Part 2/14:
Ryan begins by emphasizing that Bitcoin is fundamentally a bitcoiner at heart, even though he operates a business in the crypto space. He draws a distinction between Bitcoin and gold, comparing Bitcoin's rise to how young people's tech preferences evolve—just like the transition from early Mac users to more widespread adoption.
Ryan argues that gold's role as a jewelry and industrial material is just a part of its market; the true "investment" market cap of gold is closer to $6 trillion, not $11 trillion as often cited. When considering Bitcoin’s potential, he estimates that a Bitcoin price of around $250,000 could reach parity with gold as a store of value, based on the investment market size rather than jewelry or industrial use.