Why bitcoin will hit $120k 'very quickly'

One, uh, you know, currency that's continuing to be on the move is Bitcoin. We're seeing the token trade close to those highs of around 118,000 a coin. We are up around 8% over the past five days here and Lou, I want to get your opinion here, 120,000. That seems to be the next big catalyst. Do you think we're going to get that pretty quickly or do you think we could see some choppiness before then?

No, I think we're going to get it very quickly, uh, and I'll give you some data behind the reason why we talked about it a little bit before is you're seeing a lot more of these digital asset treasury companies come to market. And, you know, just we actually, I'm on a board of a company that got approached to do this and and diversify into a digital Bitcoin strategy. There is really what seems like unlimited demand of institutional money for these strategies, which is going to drive prices higher, take more supply off the market. I I wouldn't be surprised if we're sitting here next week at the same times and we're talking about 140, right? We blown through 120,000. So, uh, I think this is just one of those trends. This is, you know, we talk about, uh, playing into the hype and the momentum. This is definitely Bitcoin right now.

And going back to that, uh, you're on that board of that biotech company about the crypto treasury. What were the conversations that led to that decision? Why have this exposure?

Yeah, I think it's a decision now, you know, without speaking out of turn that a lot of companies are having because it can be incorporated into, it's a way to facilitate owning crypto. Can we still run our operating business and not be distracted from that, but also raise additional capital and bring in another investing class? So for us, we were a very small company. Uh, we can run our operations with a medical device very cheaply for about $300,000 a month. So for us, this is a way to broaden out the reach and the potential for the company and also tap into something that's very popular in the market because it's the right vehicle. It's a more efficient vehicle. I'm not just talking about this company, but owning Bitcoin through a publicly traded vehicle is a lot less friction. Um, you're really seeing the way that these trade is a multiple of their net asset value, right? So you see a lot of institutions that want to buy these companies that are trading as close to M nav, watch the valuation go up, use that stock market volatility to then sell more shares, to buy more crypto and stock pile. So you see, you know, Anthony Pompliano for Procap just raised a billion dollars to do this. So I think it's it's a sign of the times. How long will it last? That, I think is the key question. Is this a forever trend? Uh, I'm not so sure about that, but I think for the next two, three, four years, you're going to see a lot more of it.

What about the strategy for a company like strategy for seeing that stock pop today? They hold a heck of a lot of Bitcoin on their balance sheet. A little too risky or

I think it's too risky because I don't know where their current M nav's at right now, but they're, you know, think of that like a PE ratio. You you got to be careful buying at two higher valuations. Um, I don't get the whole premium. Why? I mean, at some point you think all these companies would kind of trade in parity with each other where everyone figures out where that price is. Um, but I'll give it to him. He is, you know, Michael Saylor is a great promoter. Called a visionary. I'll use a synonym just like Elon Musk has been, uh, and that translates into stock market valuations.