Investor Dan Tapiero says AI agents won't wire money through JPMorgan

Core Viewpoint - Bitcoin's recent decline from $125,000 to around $60,000 has surprised investors, who anticipated a smaller correction of 20%-30% [1][2] Market Analysis - The current price of Bitcoin is approximately $65,000, with a significant long-term value identified in the $50,000-$60,000 range [2] - A major resistance point for Bitcoin is projected at $100,000, which has been a consistent target for investors [2][3] Institutional Adoption - Bitcoin has evolved into a fully institutional asset class, with spot exchange-traded funds (ETFs) attracting significant inflows [5] - An estimated 5%-10% of the total supply of major digital assets is now held in institutional formats, indicating a substantial shift in market dynamics [5] Capital Migration - There is a noted "fracturing" of speculative capital across various markets, with significant losses observed in early-stage crypto projects [4] - Speculative capital is shifting towards sectors such as artificial intelligence, robotics, and precious metals, reflecting a broader trend in investment behavior [6] Critique of the Crypto Market - The proliferation of low-quality crypto projects has been criticized for diluting investor focus and capital, leading to a negative impact on the overall market [7]