A new Ian King presentation has been doing the rounds lately about “Next Gen Coin,” which he claims is “expected to be 20X bigger than bitcoin.”
This isn’t the first time I’ve heard the “bigger than bitcoin” narrative. In fact, I’ve heard it so often it’s starting to get old. But I was curious to know what he was spruiking.
So I did my homework. And while Ian King didn’t reveal his pick in the presentation, I researched his clues to figure out what coin he was talking about.
And in this post, I’ll show you what I think it is.
What Is “Next Gen Coin?”
The presentation we’ll be looking at was released by Banyan Hill Publishing and features investment guru Ian King, who’s known for recommending tech and crypto plays.
Ian King began by saying that the number of bitcoin millionaires has gone from 1,000 to 100,000 in the last five years. And that we’ll “never have a chance to make those kinds of gains again” with bitcoin.
From there, he started talking about “Next Gen Coin” and how he believes it could be 20x bigger than bitcoin in the future.
Why? The main reason Ian King shared as to why he’s bullish on the “Next Gen Coin” in the presentation centered around his belief that it will “blindside traditional finance.”
And according to the presentation, the reason he thinks it has so much potential has to do with the “Next Gen Effect.” In other words, he suggests bitcoin is “1.0” and his recommended coin is “2.0,” or the next generation of bitcoin.
“It’s because of what I call the Next Gen Effect. What this means is that 2.0 is always bigger and better than 1.0.”
“Exactly. Bitcoin was the early mover. It is the 1.0 version of crypto. And while it may still have some room to go up, make no doubt … the better bet is the 2.0 version. This Next Gen Crypto is about to dominate.”
What coin is Ian King teasing?
Well, first and foremost, Ian King does not appear to be referring to an actual crypto token called Next Gen Coin. Instead, my research suggests he’s pitching Ethereum.
How do I know?
Ian King didn’t share many clues in the presentation, but he did share several quotes from what others have said about “Next Gen Coin,” which were each referencing Ethereum.
He also said that Elon Musk owns it. And as far as I can tell, the only three coins Elon Musk has publicly said that he owns are bitcoin, Dogecoin, and Ethereum.
And considering Ian King said that Next Gen Coin is “better than bitcoin and the 10,000 other coins out there such as Dogecoin and Ripple,” his pick must be Ethereum.
However, he also said that you “can start with as little as $20 if you want.”
And since Ethereum trades much higher than that as of writing, my guess is he’s talking about the Grayscale Ethereum Trust (ETHE).
In short, this is an alternative way to gain exposure to Ethereum’s price without buying the token directly. And it was trading at around $20 per share when the presentation launched in March 2022. So, I believe Ethereum is Ian King’s “Next Gen Coin” pick, and the Grayscale Ethereum Trust might explain why he said you can “start with as little as $20.”
Why is he bullish on Next Gen Coin (AKA Ethereum)?
One of the main things Ian King talked about in the presentation had to do with transaction speed. In short, he says Next Gen Coin can process more transactions per second and that, after an “upgrade,” it will have the ability to process 100,000 transactions per second.
“Right. For example, right now, bitcoin can process about five transactions per second. The Next Gen Coin, currently, can process about 30 per second.”
“Visa, for example, handles 1,700 transactions a second. So, right now, the Next Gen Coin is handicapped.”
“But, after this upgrade date, after this upgrade, everything will start to change. It’ll have the ability to do 30 transactions, then 300, then 3,000, then 30,000 … and then, a full 100,000 transactions per second.”
“That’s right. 100,000. 50 times the speed of visa. And, this is key, at a fraction … a tiny fraction … of the cost.”
What upgrade is Ian King referring to?
Ian King mentioned that Next Gen Coin will be getting an “upgrade” numerous times throughout the presentation, so this appears to be a big part of his overall thesis. And my research suggests that he’s almost certainly talking about Ethereum 2.0.
Ethereum 2.0 is an update designed to move Ethereum to a Proof of Stake (PoS) model to increase the speed, efficiency, and scalability of the network.
This has been in the pipeline for a long time, and there have been numerous delays, but the latest expectation is that the full Ethereum 2.0 release will happen sometime in 2023.
And regardless of the date, there’s been no shortage of crypto “experts” claiming that, if/when this does happen, it could end bitcoin’s dominance.
But I personally think that’s BS.
Next Gen Coin: 20X Bigger Than Bitcoin?
I’ve seen this “bigger than bitcoin” narrative spruiked a LOT within the investment newsletter space, and I’ve shared my thoughts on why I disagree with it several times before.
But rather than go off on a tangent, I’ll focus on Ian King’s main argument as to why he suggests Next Gen Coin (Ethereum) could be 20X bigger than bitcoin: transaction speed.
As mentioned, Ian King said that Next Gen Coin can process 30 transactions per second and is aiming to scale to 100,000 per second (which, as a side note, is another clue that matches Ethereum). And he compared this to bitcoin, which can only process about five transactions per second, more or less suggesting it’s old and slow.
But is that the real story?
Technically, what Ian King said is true, but there’s also a lot he didn’t say about the innovations taking place on the bitcoin network.
And in particular, there are two points I think are worth mentioning:
- First, increasing the transaction speed of a base later protocol (like Bitcoin or Ethereum) comes with trade-offs. And sacrificing decentralization is probably the biggest. In short, the bitcoin blockchain is the most decentralized, secure, and time-tested network of all, in my opinion. And those features come at the cost of transaction speed by design.
- Second, what many people don’t (yet) realize is that there are many innovations taking place in the bitcoin space, and one of the most notable is the Lightning Network. This is a layer two protocol that sits on top of bitcoin, and (right now) it’s capable of processing up to 1 million transactions per second.
Let that second point sink in for a moment…
Ethereum is aiming to eventually process up to 100,000 transactions per second after Ethereum 2.0, which may or may not occur until sometime in 2023.
Meanwhile, bitcoin is already capable of processing up to 1,000,000 transactions per second using the Lightning Network – without sacrificing the secure, decentralized base layer. What’s more, the fees associated with lightning transactions are almost non-existent.
This is game-changing. Especially considering bitcoin also wins the store of value argument because the base layer is sound and bitcoin’s supply is hard-capped at 21 million.
Here’s a YouTube video featuring Jack Mallers, the guy at the forefront of bitcoin’s Lightning Network, that breaks down how bitcoin and lightning are disrupting the entire legacy payment system right now. I set the video to play at the most relevant part, but the whole thing is worth a watch as it gives you insight into what’s happening in the space:
There are many other great entrepreneurs working on bitcoin itself and second-layer protocols like Lightning too. It’s very exciting when you start digging into it.
That said, I obviously can’t predict future. So anything is possible in terms of bitcoin’s price, especially in the short-to-medium term. I hold some bitcoin too, so it’s best to assume I’m biased when I compare bitcoin with different assets. And of course, I’m not recommending you make any investment decisions on the basis of what I’ve said.
In any case, Ethererum, I mean “Next Gen Coin,” wasn’t the only investment Ian King teased in the presentation. He also talked about some “100X Coins” and a “Banking 2.0” stock.
What else is Ian King teasing?
Ian King didn’t provide many clues about the 100X Coins, other than suggesting these are smaller altcoins that he believes could see significant upside.
But he did share the following clue about the “Banking 2.0” stock:
“Yes. I have a lot of confidence in this company. Mark Andreesen, who sits on the board, does too. He’s the same guy who serves on the board of Facebook, and so many other tech companies.”
He also shared some hints about who’s investing in the company and a quote from Goldman Sachs that matched what is stated in this fortune.com article about Coinbase.
So, based on Ian King’s clues, I think the company he’s teasing is Coinbase.
How do you find out for sure?
If you want to find out what Ian King is teasing (for sure) and get all the details on why, the best option would be to join his advisory service, Strategic Fortunes.
Recommended: Go here to see my #1 rated stock advisory of 2024
What Is Strategic Fortunes?
Strategic Fortunes is an investment research service run by Ian King of Banyan Hill Publishing that’s focused on technology-related investments, including crypto.
Ian King’s background is in investment banking, and according to the presentation, he’s been investing “in and out of bitcoin since 2013” when it was trading for about $100.
He’s also known for recommending tech stocks and altcoins across different services, including New Era Fortunes and Next Wave Crypto Fortunes.
His flagship service is Strategic Fortunes, though.
This service costs either $79 for one year or $299 for a lifetime subscription if you join through the presentation we’ve discussed in this post.
And as a subscriber, the main thing you get is the monthly newsletters that give you a breakdown of Ian King’s latest investment idea and research.
You also get access to the model portfolio so you can see everything he’s currently recommending to Strategic Fortunes subscribers, updates on each recommendation, video training, and some bonus research reports.
These reports include The Next Gen Coin, 100X Coins, and Banking 2.0 reports I mentioned earlier, but also other reports Ian King has created that show you what he’s bullish on.
Is the service worth it?
As mentioned, Ian King mostly focuses on tech investments. In particular, the service focuses on mid-cap tech stocks that Ian King believes have potential.
There’s no guarantee his picks will help you make money, which is true for any service, but if you’re looking for an entry-level advisory focused on tech and altcoins, it might suit you.
Either way, Strategic Fortunes isn’t a scam. And the Banyan Hill Publishing website states that there’s a refund policy in place.
To recap, the “Next Gen Coin” Ian King is teasing appears to be Ethereum. And the “Banking 2.0” stock he hinted at is most likely Coinbase. And if you want to find out for sure, the best thing to do would be to check out Strategic Fortunes.
Regardless of what he’s teasing, if you’ve read this far, you’ll know that I don’t agree with Ian King’s take that bitcoin is the “1.0 version of crypto.” Instead, I think it’s one of the most profound innovations the world has ever seen, and it’s only just getting started.
That said, I’m not a stock-picking (or crypto) guru, so it’s best to do your own research on this topic so that you can draw your own conclusions.
I also want to point out that I am not making any recommendations about what you should or shouldn’t do; I’m simply sharing my opinion.
In any case, whatever you decide, I hope you found this post helpful. And if you’d like to share your thoughts on any of this, drop a comment below.