Part 7/15:
Using a conservative approach, he estimates that Bitcoin could account for up to 25% of the world’s total asset value—roughly $225 trillion—translating into a per-coin value of $10 million. He emphasizes that this is a full-societal adoption scenario, spanning decades, during which Bitcoin replaces or complements traditional money and store-of-value assets.
The Role of Market Cycles
Jesse draws parallels to historical Bitcoin cycles—bull and bear markets—arguing that bubbles serve as correction mechanisms that prevent overextension. Each cycle builds incrementally on the last, leading to higher "lower lows" and establishing a steady upward progress as fundamentals solidify.