Bitcoins Supercycle | Dan Held, Kraken

If the world realized Bitcoin's value, Bitcoin should be a $10-100 trillion market cap.

So, Bitcoin, to me, represents that it's found product-market fit in terms of traction, in terms of usability. Bitcoin, as a store-of-value asset, fits all those parameters without any tweeking necessary on layer one. Bitcoin doesn't need to do any improvements; it doesn't need to do an upgrade. A lot of people find that boring; I find it thrilling. It means that Bitcoin has found traction and product-market fit and that, even if we all walked away and there was no development on it, it would still survive.

When the US Infrastructure Bill news came out, it was very negative. This was not good news. Bitcoin didn't care .. That, to me, reads bull run ... In a bull run, negative press is disregarded and positive news buoys the price. In a bear market, we see the opposite—positive news has no impact, and negative news continually punishes it lower.

[Bitcoin has] taught me a lot about investing, in general. If you just have a 5-10 year horizon on any asset... just thinking that far ahead and HODLing, you're ahead of the curve by 20-fold.

Bitcoin is succeeding, and that's ultimately what this is about. Bitcoin has succeeded, is succeeding, and banks coming in is a validation that is true.

Bitcoin exposes so much of the raw human nature of fear and greed ... Nothing changed about Bitcoin; the price just changed. But because of that, people have these mental models of what's expensive or cheap, and so, it totally flips the idea of ... how do people value things on top of its head. It's really interesting to see.

Robinhood just reported... 41% of their revenue comes from crypto, and over 60% of that 40% is Doge.

You've got Solana coming up ... I think Solana very much much challenges Ethereum. Solana is becoming very popular.