Willy Woo Explains Why Bitcoin Is The Next Step In The Evolution of Money
Willy Woo, Bitcoin ‘OG’ on-chain analyst, explains why he believes Bitcoin is a significant advancement in the history of money.
The analyst, who earlier this week pointed out Bitcoin whale movements are signaling a bottom, maps out why he believes Bitcoin is reinventing the monetary system.
Calling Bitcoin the type of event that happens just once in 10,000 years, Woo said in a conversation with Anthony Pompliano and fellow on-chain analyst William Clemente that the flagship cryptocurrency will reshape the monetary system as much as the advent of currency did in the agrarian age.
“The monetary base of civilization is about to be reset. More than reset – reinvented. People are looking at this as… Reinventing money – money gets reinvented every, roughly, 100 years. If you look at when money was invented, it was the agrarian age, so we shifted from not trading to actually using money in agriculture…
I think this is the same thing. We’re going from this kind of industrial age to a digital age, but, you know, it’s the real first reinvention of money since the agrarian revolution. It’s a one-in-10,000-year event.”
The analyst believes that Bitcoin is the future of money, and expects BTC to reach $1 million per coin in the future.
“Dan Held is calling this a supercycle. I’m thinking this might be the last cycle. Meaning, at this point, Bitcoin doesn’t see this very strongly imprinted four-year cycle, and we do more of a random walk, and it’s highly correlated to macro, and we just random walk all the way up to a million dollars in a few years…”
Woo agrees with PlanB’s stock-to-flow (S2F) price model to predict Bitcoin’s short-term and long-term trajectories.
“The top earner is roughly one-to-one to world GDP in market cap, which, is what, a $100 trillion? I think I concur with PlanB. PlanB is $100 trillion.”
