Yeah, it's a good question. Sorry, I'm just trying to think about how I want to answer this one. A short answer, yeah, 100%. I mean, it'd be really difficult to onboard an AI to Chase bank. It'd be very difficult to KYC an autonomous agent, a superintelligence. You know, by the way, hey, watch that AI word. I think that's illegal in the United States. Kidding, but kind of. Anyway, yeah, I mean listen, of course, agents are going to want natively digital money. Bitcoin is the only digital scarcity, digital bearer instrument, and when we say bearer, for the kids at home, that means physical. So, it's as if it's physical cash or physical gold. The data itself acts as a physical instrument. And that is the innovation of Satoshi Nakamoto. Satoshi created a monetary ledger which we call the blockchain. And you know, that same blockchain, that same data acts as a bearer token, a physical token. And of course, digital intelligence is going to want digital money.
Now, let me caveat that because I'm not as, you know, hypey salesman AI Bitcoin maybe as you'll find on the internet today. I think that human beings are generally overoptimistic in the short term about what technology can do and they underappreciate what technology can do in the long term. And I think that's not a Bitcoin or AI or SI specific insight. I think that's just a broad insight in regards to technology and innovation is that we get incredibly excited, optimistic, and probably a little ahead of our skis immediately. And we overestimate what we can accomplish in the near term.
And we underestimate and it's really hard for us to be extremely forward-looking and encapsulate what true disruption and true innovation can do in changing society and changing the world for the better in the long term. And I give you that insight in that context. I've seen this by the way with Bitcoin. Like I've seen Bitcoiners get dismayed. Oh, Bitcoin's over. It's not going to disrupt Visa. It's not going to change the world. And I've seen Bitcoiners quit over my 14 years in the industry. And here we are, $2 trillion asset well on its way to changing the world. And all you got to do is just be patient. And you know, markets can remain irrational far, far longer than you can remain solvent. That's kind of the financial markets catch-all phrase to express this idea of change takes time. Just because a technology or an innovation is incredibly disruptive doesn't mean it's going to flip the world on its head tomorrow. And you have to be patient. You have to stay humble, right? All of the things that we talk about.
Now, I give you this context because I actually don't think that the driving adoption for Bitcoin right now or any time in the immediate future is going to be AI. I tell you this, Strike is one of the most regulated Bitcoin companies in the world. I've got every license known to man. You want a Bitcoin backed loan. You want to do payments. You want to do brokerage service. You want custody. You want anything. You want it in New York. You want it in California. You want the United States. You want it federally, state by state. You want me licensed. You want in the UK. I can do it all. I never get AI companies or SI companies or anyone asking me for Bitcoin stuff ever. Ever. Because I just don't think that's what they need right now. I think where these businesses are innovating, you know, payments are fine. They're for now. They're fine.
Now, to your point, over the long arc of human history, in the years to come, the decades to come, are autonomous agents going to prefer digital bearer money and money that's scarce, money that can't be debased, money that doesn't know borders? You guys aren't going to get me on that rant. We all know it listening to the show. We all know. Yeah, of course. But in my opinion the driving use case for Bitcoin right now has much more to do with the sovereign debt crisis we're living through that the United States is starting to... there's emergent market behavior like the United States is looking remarkably like Argentina in how the bond market is behaving, the amount of indebtedness, how the currency is trading, just the fiscal dominance that we're starting to see as the Fed struggles with, well, do I fight inflation or do I save the bond market? And that to me is going to be what drives Bitcoin in the immediate term.
And I think people get drunk on narratives, right? Everyone's looking to pump the price. Everyone's looking to justify their startup. Everyone's looking to raise venture capital money. They're like, 'Oh, well, you know, all this AI hype. Well, where do I fit in that AI hype?' Well, I have a Bitcoin payment startup. Yeah, but if we're all being honest with each other, I think Bitcoin makes smashing new highs when they have to start printing orders of magnitude more money than they did during COVID because of the level of indebtedness and where the 10-year is and the fact that they cannot get inflation down to 2% before the bond market starts to crack and the fact that of all the Western nations, the United States is in such a pile of [__] and they're the best pile of [__]. Europe is about to implode.
I mean, for all of those reasons, the fact that gold, the last time Bitcoin was at 80K, gold was like half the price. The fact that neutral reserve assets are being repriced in real time, the dollar has to be significantly weakened in order for any of the world we're living through to make any remote sense. Now that to me, you guys want to talk about the next 6, 12, 18, 24 months. The last thing I'll say on this rant, to me, Bitcoin has always been some combination of technology plus fiat liquidity. So, close your eyes and think of a simple equation. Close your eyes with me. Don't look at this. Don't look at this incredible facial hair. I've found a way to grow. Don't close your eyes.
Bitcoin equals technology plus fiat liquidity. And what I mean by that is, you know, at different parts of Bitcoin's journey sometimes the technology will drive its adoption curve and that will be integrating with autonomous agents or disrupting cross-border payments or competing with network businesses like Visa or, you know, the technological innovation of if there's serious, you know, hot war and countries and sovereigns and institutions need to store wealth that they can be private with or cross borders with or settle adversarial trade with. Maybe that's the technology piece that's disruptive and will drive Bitcoin adoption. And then there's the fiat liquidity piece where at the end of the day, Bitcoin is just ultimately priced on how much is the future expectation of fiat credit, fiat units floating around the world. And if there are more and more and more fiat units that are competing for a relatively or literally finite scarce supply of things in the case for Bitcoin, that's going to just drive its price up in dollar terms 100%.
So I kind of have watched Bitcoin adoption for a long time now, and it kind of ebbs and flows between technology and fiat liquidity. And the AI narrative is fun and it's cool and it's cute and it's modern and it's hip and maybe it gets us some CNBC hits or a little bit of attention, but when push comes to shove, how's this asset class go from 2 to 10 trillion, I just don't think the AI narrative and it's not real yet. What's real is there's a ton of money that needs a new home. Like the bond market is dead. It's imploding. The 60/40 portfolio is over. The Fed's balance sheet is back to expanding again. The US has to severely weaken the currency and inflate their way out or Pax Americana as we know it will cease to exist. That will send Bitcoin astronomically higher than if like OpenAI integrated like a pay for your subscription or like your agent can make micropayments. It's just being honest.
But let me bring it back and end on an optimistic note. Humans generally are overoptimistic and exaggerate what they can do in the short term with innovative and truly disruptive technology and they underestimate and they underappreciate what will be accomplished over the medium to long term. So, I think we're in this very early phase of the AI plus Bitcoin era. I think a lot of these companies aren't even profitable yet. It's unclear if they're going to be nationalized and subsidized, if all the credit that's propped them up is going to survive, how are these businesses going to be economically viable? Who are going to be the winners? What are the business models? I mean, all of that needs to be figured out first. And I think people are probably overoptimistic about what's going to happen in the next three to six to nine to 12 months and we might even be in a bit of an AI bubble that needs to get bailed out.
But over the next one to two to three to four to five years, I think there's obvious synergies and of course I think Bitcoin is going to be a money for everyone, especially digital intelligence. But that doesn't mean I'm not bullish Bitcoin. I actually think Bitcoin is going to go to hundreds of thousands or million dollars per coin in the not too distant future just because of all the filthy fiat units that have to be created out of thin air. Hopefully that answers your question. Some optimism but some realism. You know what I mean? I've just seen it before. I've been around the block. People get so excited, so optimistic. They create these narratives. These narratives catch the front pages of TechCrunch and everything. And then everyone calls Bitcoin a failure because all your OpenAI chatbots aren't using Bitcoin as all of the hypebeast influencers told you. And then everyone's like, 'Oh, well, Bitcoin didn't work.' I'm like, 'Well, like we're in a bull market and Bitcoin's at $200,000 a coin because the Federal Reserve added $5 trillion to their balance sheet.' But yeah, sure, Bitcoin isn't working. You know what I mean? So, medium to long term. Short term, it's all a fiat liquidity game in my opinion. We'll see. I'm wrong often.
Okay, next question. Renee, he's back. The voice from the heavens is back. Let's see if I can find him. Boom. Found him. Renee the macro angel. I love that. Let's hear it, brother.
