In this YouTube video, the general partner at VC Crucible discusses the record rally of Bitcoin, highlighting the significant inflows of money into Bitcoin ETFs. The speaker mentions that $84 billion has flowed into Bitcoin ETFs, approaching the total assets under management of gold ETFs. They also discuss MicroStrategy’s purchase of $2 billion in Bitcoin and the all-time high trading volumes. The speaker believes that Bitcoin is no longer a contrarian investment but has become consensus, leading to more inflows. They also mention the potential for the US to become a huge buyer of Bitcoin and the possibility of a special Bitcoin fund. The speaker addresses the question of whether a supply of Bitcoin will come out at $100,000, stating that the decrease in Bitcoin mining supply is reducing selling pressure. They also discuss the importance of market microstructure in facilitating different investment strategies in Bitcoin. Overall, the speaker is optimistic about the future of Bitcoin and believes that long-term holders will continue to support the cryptocurrency.
