Gerstner recounts passing on 21.co deal with Andreessen when Bitcoin was at $1,100 in 2014.
“So we're looking at a deal with, Andreessen, because I thought Balaji was one of the smartest people in the space. The company was called twenty one dot co.”
“we're like Bitcoin at two. And I'm like, god, so Bitcoin represents two out of 500 of the net worth of the world or 400, whatever. It moves a little bit. Could it be four?”
“the market cap of the world, the net worth of the world is like $45,500,000,000,000,000. Equities, I think, are like 120 or stuff. Real estate's probably another 100, 150.”
Gerstner compares Bitcoin at $2 trillion to gold at $15-20 trillion and global net worth of $500 trillion.
“And then we're like Bitcoin at two. And I'm like, god, so Bitcoin represents two out of 500 of the net worth of the world”
Gerstner compares Bitcoin down 10% to gold up 50-60%, calling one a risk asset and one not.
“Bitcoin this year is down 10%. Gold is up 50 or 60%. I hope we can dispel the myth. Right? One is a risk asset and one is not.”