bitcoin is history it's part of current
history history unfolds throughout the
ages in Bitcoin is one of the pages in
history it offers tremendous profit
promise but at the same time it's
subject to the same emotional impact and
the same decisions that people have been
making on all speculations investments
all different types of asset classes
it's the same thing that happens over
and over and over again throughout
history some are more than exaggerated
than others but bitcoin is history
because it's making history one of the
things if you've been watching you
should know that I've been investing in
Bitcoin since 2014 and I am a fan of
Bitcoin and the other cryptocurrencies
but one of the things that people don't
realize that you know I took some
profits recently and it sort of kicked
off a little firestorm of the comments
and a lot of the Bitcoin people thought
that that was a very negative thing that
I took a little bit of my profits of
Bitcoin and turned it into silver well
you know what Bitcoin can't exist
without silver neither can any other
cryptocurrency
modern life cannot run without silver
it's in your cell phone it's in the
internet everywhere it's in every switch
and every little chip everything
contains minut amounts of silver and
that's part of what makes it run so
silver is a necessary ingredient for
modern life and you know I was taking
something that I felt had been on a very
very long run where I had made many many
many times my initial investment in
profits and I was taking a little bit of
that and going from something that is
potentially overvalued we don't know if
bitcoin is overvalued because we don't
have the standard ways of measuring it
p/e ratios or other comparative things
throughout history Bitcoin is sort of
unique that way
and so it's very very difficult to
assess value as far as whether it's
overvalued or undervalued but I took
something that I thought might be
potentially overvalued and that went
into something that I know to be
definitely undervalued and I only took a
small part so I'm taking some profits
where I've done very very well
and putting it into the thing where I
think on one of the next waves it is
going to do very very well that's one of
the secrets to investing and that is a
chapter in my book about working these
cycles that I call a wealth cycles where
you go from an overvalued asset class to
an undervalued asset class so to give
people perspective you know I noticed a
lot of the newer investors the people
where Bitcoin is the first time that
they've really they've invested and
they've made these spectacular gains I
noticed that a lot of them don't seem to
have the perspective of monetary history
and it's very important to get a
perspective on these the psychology and
the emotions that run the market that's
the thing I'm talking about psychology
and emotion and even though my book is
titled how to invest in gold and silver
the first third of it is just about
market manias panics crashes its
monetary history bubbles and the emotion
that drives it the next third of it is
some simple economics and the current
state of the global economy if you want
to skip the part that's related to gold
go write gold and silver
go right ahead just skip it but I do
encourage you to read the last 11 pages
the last chapter in here because it sort
of wraps things up and I want to send
this to you for free
you can get an instant download on it or
we'll mail it to you
so but it'll give you that perspective
it's just one more thing to learn you
don't have to do any of you know it
doesn't actually give advice I try to
never give advice I tell people what I
doing and a lot of the things that I am
doing are encapsulated in this book so
thank you very much for watching
get some historical perspective because
in the long run you will be better off
for it and we'll see you next time