John Haar

Speaker states Bitcoin is a "great fundamental story and an attractive valuation" at ~5% of gold's market cap, predicts $1M BTC between 2030-2035, and cites Morgan Stanley's ETF launch as a major bullish institutional signal. In a macro environment of perpetual inflation, deficit spending, and potential capital controls, traditional assets (real estate, gold, equities, bonds) are structurally flawed or overvalued. Bitcoin's fixed supply, portability, and growing institutional adoption as a persistent portfolio allocation make it a superior store of value. LONG due to compelling macro hedge characteristics, massive relative valuation gap to gold, and accelerating institutional adoption embedding it as a core asset. A collapse in institutional adoption narrative; severe global regulatory crackdown.