DaVinci Jeremie bought bitcoin for less than $1, which is why he thinks it's a hedge against government overreach

DaVinci Jeremie bought bitcoin for less than $1, which is why he thinks it’s a hedge against government overreach


In March 2011 DaVinci Jeremy, host Davinsig 15 On YouTube, he bought bitcoin for 67 cents. Now, more than a decade later, with bitcoin trading at around $16,500, Jeremy said he still holds onto his bitcoin, because it is “a monetary system that governments can’t stop.”

“[With Bitcoin]-You can transfer wealth to anyone around the world instantly without a third party. “This is mind-boggling technology.”

These qualities of bitcoin will become especially evident when governments begin rolling out central bank digital currencies, according to Jeremy.

I think governments will create their own digital currencies and make it impossible for people to do so [transact] By forbidding what they buy, as well as telling them what they can and cannot buy.

He suggested that people then turn to Bitcoin to get around government bypass, and use it for everyday transactions.

Jeremy spoke with David Lin, Anchor and Producer at Kitco News.

Central serfdom banking

Part of Jeremy’s enthusiasm for bitcoin is based on his avowed disdain for the current banking system, which he claims has led to “total slavery.”

“Central banks are the worst kind of slavery that has affected all of humanity,” he said. “If I can print money, and you have to work for it, that makes you a slave.”

He pointed out that the ability of central banks to provide funds leads to the redistribution of wealth among the elites.

“Being able to print money is evil… because it sucks the wealth out of everyone else,” he said. “Criminals just… want to be able to steal wealth from everyone. The best way to do that is to become a banker.”

Jeremy also said that our current financial system causes inflation to erode people’s wealth.

“You can’t save money and claim it will save you until retirement,” he said, “because inflation could get out of control and kill you.” “We need a monetary system that allows you to save X amount of money…and you know you’re going to be able to survive.”

Bitcoin price manipulation

Jeremy said that the price of bitcoin is being manipulated by derivatives markets and ETFs, who also claimed that gold and silver are being manipulated.

“Bitcoin is the only commodity on the commodity exchange where you can’t get delivery,” he said. “However, it is the easiest commodity to hand… If the Bitcoin contract expires, all you get is cash.”

Jeremy suggested that buy and sell orders could be placed on the exchange to move the price of bitcoin during day trading.

“The other way [they manipulate price] With ETFs.” “People can buy what they feel is Bitcoin, on an ETF, but that’s not Bitcoin… You only have exposure to the price with an ETF.”

Bitcoin price drop

Jeremy suggested a $12,000 limit and said that Bitcoin would eventually recover to $100,000.

“I think we’ll probably see $12,000 [for Bitcoin],” he said. “It will take until 2024 for [Crypto] The winter will really start to calm down because the Bitcoin halving will pass.”

For Jeremy’s outlook on the Bitcoin price, watch the video above

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Disclaimer: The opinions expressed in this article are those of the author and may not reflect the opinions of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; However, Kitco Metals Inc. cannot. Nor does the author guarantee this accuracy. This article is for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. does not accept The author of this article will not be held liable for losses and/or damages arising from the use of this publication.

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