CS8: Michael Terpin on Bitcoin Cycles, Halvings, and the Road to the Next All-Time High

So you were like, basically like open to new, to new technologies, and then you recognized Bitcoin, and you said, "This is something cool I wanna get into"?

Yeah.

So, um, I, I like to say I have the blessing and the curse of, uh, finding out about new tech early.

I got into the internet in, uh, like '92.

Got into, uh, social media in like 2001, and, uh, got into, uh, Bitcoin in 2012.

What's the curse? [laughs]

And, uh, well, the curse is like, um, you know, you think you're gonna run with stuff and it's still everybody's like, "What the hell are you talking about? I don't even know what this is." So...

And I thought each time that I was too late.

I thought I was too late when I got into the internet 'cause it was already...

Well, in the internet I thought I was still pretty early.

But, uh, with social media I thought I was kinda late, and, uh, certainly I thought I was late with Bitcoin 'cause it had already gone to like, you know, $100 by the early 2013 from...

I knew people who had got in at pennies.

And, uh, obviously, uh, you know, it's gone over 100,000 now, so-

[laughs]

...

it wasn't, uh, wasn't that late.

But it takes time to like realize that I guess, like as these markets and as these technologies mature.

Well, and the other thing also was, um, I made a point of really getting to know everyone in the industry, 'cause, uh, when I got into the internet I learned the...

I, I, I met the marketing directors.

I really didn't meet the CEOs, and I made a point of really while the industry was still young meeting all the CEOs of, uh, of all the great projects.

And, and then I first met Brian Armstrong, uh, at that show, uh, at the first Bitcoin conference in, uh, early 2013.

He was standing in front of a, uh, 10-by-10 booth for Coinbase han- handing out T-shirts.

I still have the T-shirt.

Wow.

And, uh, he had his er- intern there, um, O- O- uh, Olaf Carlson-Wee, who now runs one of the biggest venture funds.