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Because Network Effect has forced traditional financiers to change their tune on the digital currency. And this is black rocks, c i o, o of fixed income, he told c. N. N. B. B. C. Last friday. His name is rick reader, he said, big queen is here to stay while conceding, that he is not a big bowl reader, said the flagship currency will quote, take the place of gold to a large extent because it is so more functional than passing a bar of gold around, right . This is a remarkable statement because weve heard the argument that big coin is goal to point out that its a prayer to gold, but that has come from the internet from social media, from heterodox thinkers like ourselves. Its not come from a 7 trillion dollar managed fund like blackrock and were hearing it from other folks like Paul Tudor Jones stent arthur miller. And although theres 100. 00 trillion dollars out there looki ....
A large extent because it is so more functional than passing a bar of gold around, but this is a remarkable statement because weve heard the argument that big calling his goal to point out that its a prayer to gold. But that has come from the internet from social media, from heterodox thinkers like ourselves. Its not come from a 7 trillion dollar managed fund like blackrock and were hearing it from other folks like Paul Tudor Jones stent arthur miller. And although theres 100. 00 trillion dollars out there looking for a home as part of a managed money environment, they are 7 percent of that 100 trillion dollars of only one or 2 or 3 percent of that money goes into bitcoin. That means the price triples overnight. So im going to ask you a question because i want to try to elicit an answer that you gave to me on the magical crypto conference in our special this weekend about black rock. I asked you about the fact that black rock is ....
I think that is a good question because you know, more and more billionaires around the world are getting into big queen and massive sort of Asset Management. Companies like black rock are getting into big so max keiser this week, you tweeted a serious bequests. Shortage is developing a supply on exchange, dries up prices will start gapping higher looking for sellers. What do you mean by this . Max guys are but a member of the peak oil or peak gold arguments that were running out of oil or are running out of gold. That of course, is not true, but in the case of bitcoin because it is absolutely scarce and because the demand is approaching infinity, we are potentially hitting peak bitcoin, where it will become increasingly impossible for the average mom and pop to acquire bitcoin. Because all the 900. 00 coins per day that are generated through mining will be sucked up by the institutions and will never hit the market. And of cour ....
Climaxed kaiser, this is the kaiser report. Have we hit peak bitcoin . That is a good question because you know more and more billionaires around the world are getting into big coin and massive sort of Asset ManagementCompanies Like black rock are getting into big quine. So max keiser this week, you tweeted a serious big question is developing a supply on exchange, dries up prices will start gapping higher looking for sellers. What do you mean by this max kaiser . Well remember the old peak oil or peak gold arguments that were running out of oil or running out of gold. That of course, is not true, but in the case of bitcoin, because it is absolutely scarce then because the demand is approaching infinity, we are potentially hitting peak bitcoin, where it will become increasingly impossible for the average mom and pop to acquire bitcoin. Because all the 900. 00 coins per day ....
Before we get into todays before we get into todays match, a word about today. Today is world pancreatic cancer day. And if you or anyone you know has developed some of the symptoms that i have talked about in the past, then by all means get to a doctor, get yourself tested. I want you to be safe. This is a terrible, terrible disease. What a moment. Thursdays episode of jeopardy featured a warning from alex trebek about the dangers of the disease that took his life. Of course, we know that alex trebek passed away just a few weeks ago. So that message right there, which marked world pancreatic cancer day, was even more poignant, more important than ever. As you see there and heard his words, he didnt make it out himself. He talked about others and what you need to do to look for the symptoms. That right there is just just incredible. It really is. Early detection is so important. Yeah. Moving on, a football coaching legend has just tested positive for covid19. 83yearold lou holtz is cur ....