What Bitcoin Did The Bitcoin Bull Market Hasn’t Started Yet | Eric Yakes
34 snips
Dec 12, 2025 Eric Yakes, an investor and Bitcoin-focused analyst, shares insights on the current state of Bitcoin. He argues that price is determined by fundamentals rather than cycles. Yakes explains the impact of marginal supply and demand, and how institutional groundwork precedes significant Bitcoin price shifts. He discusses the potential for nation-state adoption and why liquidity constraints hold back Bitcoin's growth. Additionally, he explores the looming threat of quantum computing and the importance of developing quantum-resistant technologies.
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Dubai Party With Sheiks
- Eric describes social scenes from Abu Dhabi, contrasting poverty in Africa with wealth in Dubai.
- He joked about a sheik saying they would buy $100 billion, highlighting cultural contrasts.
Price Is Fundamentals, Not Cycles
- Price equals where marginal supply meets marginal demand, and Bitcoin's marginal supply is effectively fixed.
- Therefore fundamentals and background institutional work, not cycle models, drive major price moves.
One Announcement Can Reprice Bitcoin
- Bitcoin is one major headline away from massive repricing because institutional and government conversations are already happening.
- Small sovereign or institutional allocations could drastically change marginal demand.
