Speaking to Scott Melker on his podcast, James Lavish and Dave Weisberger revealed a new catalyst that could send Bitcoin soaring. According to experts, the fear could attract much more capital to Bitcoin than the much talked about and anticipated spot ETF.
The topic came up while Melker was showing data on Brazilian investors who prefer the stablecoin Tether (USDT) over Bitcoin, according to Federal Revenue Service data.
“There is a demand for dollars and currencies that can be transported. You can’t cross the border with gold, it’s confiscated, it’s difficult to carry, it’s difficult to transport, it’s difficult to obtain [ouro] in busy areas”said hedge fund manager James Lavish. “Gold appreciates regionally, physical gold rises to levels that don’t make sense.”
“So because we can use stablecoins and Bitcoin, this is definitely the best learning ground.”
Then Lavish notes that he spoke to an investor known as the Sultan of Venezuela and that he and his family managed to leave the country because of Bitcoin. “They were able to move the vast majority of their assets into the US via Bitcoin”Lavish said.
In Brazil, YouTuber Bruno Monteiro Aiub, better known as Monark, recently reported the same experience when he left for the US.
“It’s not a misconception, or a fantasy, or a story. This is real, it has and will continue to happen.”Lavish continued. “If you are a Jew anywhere in the world, you land in Russia and they storm the airport to find you… it is terrible and terrifying… you need a safe haven so that you can transport your life to a safe place.”
There could be trillions of dollars coming into the market, says Dave Weisberger
Adding to his colleague’s comments, Dave Weisberger added that “there are trillions of dollars out there that are scared.” By comparison, the co-CEO of CoinRoutes emphasizes that Bitcoin has a market value of just half a trillion dollars.
“Ask yourself: ‘Which asset has the greatest potential for explosive growth?’”
“Literally trillions of dollars are spent reading the news, reading scary things and thinking ‘maybe I should invest a little in something that I can take with me when I have to go somewhere else’”Weisberger continued. “And you don’t have to imagine large numbers. We’re talking about the Bitcoin ETF, which could raise $40 billion in two years and jump Bitcoin from $35,000 to $100,000.”
“What happens if $300 or $400 billion, which would be less than 5% of the amount I’m talking about, decides they need Bitcoin?”
Weisberger then notes that it is these situations that create big green candles on Bitcoin charts, also called ‘God candles’, and those who come up short end up collecting coins for a steamroller. “The market is so small that you don’t need that much geopolitical uncertainty for it to rise”the director added.
Finally, Bitcoin has gradually shown its greatest qualities. Another example: many view the increase in value in early 2023 as protection against the American banking crisis, which, in addition to bankruptcies, also caused citizens to worry about their savings.
The full conversation, in which the trio also discussed other topics in the presence of Mike McGlone, can be viewed in full below.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
