The prophecy has been fulfilled: Orange Man took the Orange Pill (or so it seems (I mean the president has his own shitcoin now, I think we’re in the clear)), won the 2024 election, and swept in the most pro-crypto Congress in history. This catalyzed the most significant crypto bull run in years. Now, Washington insiders are considering a strategic Bitcoin reserve. Disgraced dark elf Gary Gensler’s getting sacked (along with all his evil little friends). Infamous fraud Native American nocoin influencer Elizabeth Warren is in shambles, crying somewhere, we imagine. This week, on news we would not be plunged into a crypto dystopia, the price of Bitcoin exploded, hitting an all-time high of over $92k.

But what do the biggest names in tech and crypto see in the run? We asked the smartest Hodlers we know (1) what they think is going on with Bitcoin at the moment, (2) how long the pump will last, (3) their price prediction 12 months from now, and (4) what they think is in store for the future of crypto. Enjoy. — SOLANA

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Nic Carter, GP at Castle Island Ventures

Prior to election night, I thought Trump’s victory would usher in a steep rally to the six figure range. I was surprised that it took the market a couple days to digest the news, but I think the rally is warranted. The fundamental reality of Bitcoin in the US is forever changed. The wealthiest country on the planet and the center of global capital markets is explicitly embracing Bitcoin, strategic reserve or not. The pendulum has swung violently from maximum opposition to a complete embrace. The price action is entirely warranted in my view. There’s a very real prospect that Bitcoin comes to be seen as a strategic reserve asset for governments, and if the US looks likely to do that, other nations will try to frontrun.

I believe this run could take us within the next decade to parity with gold, which implies a price of roughly $900k per coin, when lost coins are accounted for. But it will be a windy and nonlinear path to get there.

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Martin Shkreli, investor

I think the market is reflecting the new administration’s mandate for less regulation, which crypto has a huge issue with. The market is also attracted to riskier assets with Trump’s victory, so parked money is chasing things like Bitcoin and even more speculative things like Dogecoin.

How long will the pump last? I think it will keep going if Trump embraces Bitcoin, which is very unclear. He knows a tiny bit about it, but he has to embrace it with a strategic national stockpile. And my price prediction for 12 months from now — if he does the stockpile, it may hit $1 million/BTC. If he does not I think it probably goes to $100,000 in 12 months.

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Patrick Collison, CEO of Stripe

I don’t know much about Bitcoin prices these days — we’re focused on stablecoins, [and] I expect the price of stablecoins to remain very constant...

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Brian Armstrong, co-founder and CEO of Coinbase

It’s the dawn of a new crypto era in the US. Gensler is on his way out, we have a pro-crypto majority in the House and Senate, and the full-throated support of the incoming President. We couldn't be in a better position to get clarity and start to rebuild this industry in America. People forget how close we came to this industry being killed in America, and I’m proud that we stood up for our customer’s rights and got organized as an industry.

The market is pricing in that the US will no longer be playing with one hand tied behind its back — we’re not only going to catch up with the rest of the world, we’re going to propel this industry forward faster than ever before.

As to what’s in store for the future of crypto — the crypto voter won. Being anti-crypto is now seen as a political liability in DC, no matter your party.

What we saw in the election is the crypto voter is rising up and saying the system does not work for them. They want a better financial system and more economic freedom. Unbacked currencies are stuck in a cycle of devaluation, leading to inflation that harms citizens. Bitcoin is an apolitical check and balance on irresponsible deficit spending that could extend the American experiment for another 100+ years. Every country should adopt Bitcoin as a strategic reserve currency — Coinbase is happy to partner with them to do it given our track record of supporting global institutions at scale.

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Pomp, founder & CEO of Professional Capital Management

A big thing is that bitcoin is up more than 40% over the last 3 months while the politicians have added $850 billion to the national debt. Bitcoin is calling the bluff of the out of control spenders.

Also, Trump is first pro-bitcoin President. You move what you measure and Trump measures asset price moves. So everything is going higher.

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Palmer Luckey, founder of ModRetro, Oculus, and Anduril

The price run seems to reflect the long-standing uncertainty that was just eliminated by the incoming administration. People don’t want special treatment, they just want to know that they won’t end up in prison over crypto, and Trump gives them at least that level of certainty.

I was using and mining Bitcoin before exchanges even existed, and I believe in the utility of BTC as a medium of value exchange regardless of the per-BTC price. With that said, I did predict in 2013 that Bitcoin would hit $100k within a decade and likely stabilize there for a long time. Looks like I was only off by a year!

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Chris Dixon, managing partner at a16z

This is a transformative moment for crypto.

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Balaji Srinivasan, founder of Network State

What’s happening with the price right now? All kinds of companies and countries are buying because (a) all legal barriers have been removed and (b) the US government is about to flip from crypto’s greatest enemy to its biggest friend. So it’s not just Bhutan and El Salvador, but Blackrock and (probably) large Middle Eastern sovereigns.

I don’t know how long the run will last, but I do think Bitcoin will ultimately hit $1 million and beyond. Around $800k per BTC is when digital gold flips gold — and it is clearly on that trajectory.

I also don’t know what the price will be 12 months out, but I don’t back down from any of my pre-election numbers on the perilous state of the US banking system. JD Vance and Elon both have commented on just how bad it is. Democrats have been denying how much damage they’ve caused to the banking system, but they might flip after the inauguration to blame it on Trump. In that situation, BTC can moon to unpredictable levels.

And to your question of what’s in store for the future of crypto: I think we are going to go to a completely different zone, where every government globally is now in full support [of BTC] for a period of time. That will be a big deal — maybe a 10x, maybe more.

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Cameron and Tyler Winklevoss, co-founders of Gemini

The price surge is fueled by optimism for the future. An optimism we haven’t seen in America in a very long time. This is not an illusory zero interest rate phenomenon, late stage growth hype, COVID stimulus, or anything like that. This is real.

As for how long this run will last, we think this cycle is different. We have an orange-pilled, pro tech President-elect, a red Senate, a red House, and popular vote mandate from the country to build. Factor in the prospect of a strategic bitcoin reserve, and all bets are off.

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Joey Krug, partner at Founders Fund, and Bridget Harris, associate at Founders Fund

BTC is rallying because a Trump win was only ~50% priced in pre election, and because of hope of a strategic Bitcoin reserve. We doubt the latter gets through Congress, but we do bet Trump doesn’t sell the BTC the government already holds.

10 to 12 months from now, the price per coin might be between $120k and $150k.

Post election, it’s nice to finally have a government that’s being constructive towards Bitcoin and crypto, as opposed to hating it for nonsensical, outdated reasons. And we’ve never, in crypto’s entire history, had a favorable US government response (and we’ve still done well price-action wise over the long term) — so who knows where we can go, if the government is actually on our side?

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Autism Capital, citizen journalist

Trump pump. 🇺🇸 🫡

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