- Base Layer
- Posts
- 👀 A billionaire's (new) prediction
GM everyone. This is 2036. We scroll for gems all day so you don’t have to.
Here’s what we’re serving up today 🍲: Dan Morehead is an OG crypto billionaire. His bitcoin fund is up over +40,000% since inception. And he just released his latest bitcoin prediction.
Let’s dig in.
On July 5, 2013, Dan Morehead sent this email to his business partners:
TLDR:
When bitcoin lost half its value - Dan didn’t panic. He saw bitcoin on discount i.e ‘on May 28th, $20M would buy 156,000 bitcoins. Now it will buy 308,000’
Just in case his business partners said NO - Dan bought 30,000 bitcoin with his own money.
The rest is history. Dan and his partners created the first-ever bitcoin fund, and Dan’s 30,000 personal bitcoins are now worth ∼$1.1 BILLION.
In crypto, Dan is a legend. When he speaks, the rest of us listen.
He recently released his latest prediction to the world. Here’s what it says…
1/ The Bitcoin ETF is NOT a ‘sell the news event’
The two previous crypto tops were marked by:
CME futures going live on December 18, 2017
Coinbase going public on April 14, 2021
… both of which were immediately followed by huge declines in bitcoin’s price:
But Dan expects that will not happen with the Bitcoin ETF. The Bitcoin ETF will enable new investors to participate in crypto.
“Buy the rumors, buy the news”
2/ The current rally will last until November 1, 2025…
… if past performance was a predictor of the future.
That’s because every 4-year bitcoin cycle looks surprisingly similar.
The rallies all last ∼1,076 days, give or take 23 days 📈
The bear markets all last ∼382, give or take 24 days 📉
Dan expects the current rally (yes - the bull market has started) to last until November 2025.
This means we still have some time ahead of us.
Our job here at 2036 will be to accompany you on the journey.
To help you turn $ into $$$$.
If you’re wondering what we’re paying attention to right now, check out yesterday’s email.
You can also read Dan’s full essay here.
And keep your eyes on your inbox for more opportunities soon… 👀
