Bitcoin analyst Willy Woo is outlining why he believes BTC is a significant advancement in the history of money.
Woo, who earlier this week said Bitcoin whale movements are signaling a bottom, believes BTC is reinventing the monetary system.
Woo calls Bitcoin an event that happens once in 10,000 years and says it will reshape the monetary system as much as the advent of currency did in the agrarian age.
“The monetary base of civilization is about to be reset. More than reset – reinvented. People are looking at this as… Reinventing money – money gets reinvented every, roughly, 100 years. And I’m like going, well, if you look at when money was invented, it was the agrarian age, you know, so we shifted from not trading to actually using money in agriculture…
I think this is the same thing. We’re going from this kind of industrial age to a digital age, but, you know, it’s the real first reinvention of money since the agrarian revolution. It’s a one-in-10,000-year event.”
Believing that Bitcoin is the future of money, Woo expects BTC to reach $1 million per coin in the future.
“Dan Held is calling this a super-cycle. I’m thinking this might be the last cycle. Meaning, at this point, Bitcoin doesn’t see this very strongly imprinted four-year cycle, and we do more of a random walk, and it’s highly correlated to macro, and we just random walk all the way up to a million dollars in a few years…
The top earner is roughly one to one to world GDP in market cap, which, is what, a $100 trillion? I think I concur with PlanB. PlanB is $100 trillion.”
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