DaVinci Jeremie bought Bitcoin for under $1, this is why he believes it protects against government abuse
https://www.youtube.com/watch?v=/bCg968rqWOM
In March 2011 DaVinci Jeremie, host of Da Vinci 15 on YouTube, bought a Bitcoin for 67 cents. Now, more than a decade later, with Bitcoin trading around $16,500, Jeremie said he continues to hold his Bitcoin, as it’s a “money system that governments can’t stop.”
“[With Bitcoin]you can transfer wealth to anyone around the world instantly without a third party,” he said. “This is amazing technology.”
These characteristics of Bitcoin will become particularly evident when governments start rolling out central bank digital currencies, according to Jeremie.
“I think governments will create their own digital currencies and make it impossible for people to do that [transact] by blocking what they buy, as well as telling them what they can and cannot buy,” he said.
He suggested that people would then turn to Bitcoin to circumvent government overreach by using it in everyday transactions.
Jeremie spoke with David Lin, anchor and producer at Kitco News.
Central bank service
Part of Jeremie’s fervor for Bitcoin is based on his alleged disdain for the current banking system, which he claimed led to “complete slavery.”
“Central banking is 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 suggested that the ability of central banks to make money available leads to wealth being redistributed to elites.
“The ability to print money is evil … because it siphons the wealth away from everyone else,” he said. “Only criminals … want to be able to steal wealth from everyone. The best way to do that is to become a bank.”
Jeremie also said that our current financial system causes inflation to erode people’s wealth.
“You can’t save money and say it’s going to save you until retirement, because inflation can get way out of control and wipe you out,” he said. “We need a monetary system that allows you to save X amount of money … and you know you’ll be able to survive on it.”
Bitcoin price manipulation
Bitcoin’s price is manipulated through derivatives markets and ETFs, said Jeremie, who also claimed that gold and silver are manipulated.
“Bitcoin is the only commodity in the commodity exchange where you can’t get delivery,” he said. “Yet it’s the easiest commodity to deliver on … if the Bitcoin contract expires, all you get is cash.”
Jeremie suggested that buy and sell orders could be placed on the exchange to move Bitcoin’s price within intraday trading.
“The other way [they manipulate price] is with the ETFs,” he said. “People could buy what they felt was Bitcoin, on an ETF, but it’s not Bitcoin … you only have price exposure with the ETF.”
Bitcoin Price Forecast
Jeremie suggested a floor of $12,000 saying Bitcoin would eventually get to $100,000.
“I think we’ll probably see $12K [for Bitcoin],” he said. “It’s going to take until 2024 for [Crypto] Winter is really starting to wane because Bitcoin’s halving will go through.”
To find out Jeremie’s views on the Bitcoin price, watch the video above
Follow David Lin on Twitter: @davidlin_TV
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Disclaimer: The views expressed in this article are those of the author and may not reflect the views of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. It is not an invitation to exchange goods, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept responsibility for any loss and/or damage arising from the use of this publication.
