Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Thursday, December 5th, and today we have reached the milestone

of milestones, Bitcoin at $100,000. Before we get into that, however, if you are enjoying the

breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive

deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod.

Hello, friends. Throughout Bitcoin's history, there have been a couple numbers that really

capture our attention and serve as narrative anchors for some reason or another. In the context of cycles,

it's usually some point that we're swirling around for some extended period of time,

but when it comes to the really memorable ones, there are fixations for the future,

either the reclaiming of a number that was once briefly breached and then lost,

or something that seems at once so far out and yet so inevitable that it serves to anchor the energy

of the community. For a very long time, that number was 20,000. 20,000 was, of course, hit very,

very briefly in late 2017, and then throughout the entire next cycle was the marker and

determinant of whether Bitcoin was back. Of course, we blew through 20,000,

eventually 3xing that during the cycle. But interestingly, it wasn't really reclaiming 60 or 70,000

that was the narrative benchmark during the bear market, but instead it was always 100K.

You may remember the origin of the laser eyes meme, where everyone changed their profile picture

on what was then Twitter to have laser eyes, was laser eyes to 100K. In the last few weeks,

in the wake of the Trump election, that 100K number has felt more inevitable than ever before.

However, Bitcoin being Bitcoin, it gave us its own fair bit of drama and anticipation on the way.

And yet, today is finally the day. After weeks of waiting, Bitcoin finally crossed the $100,000 mark

...