 If you go down to Quinn Market Cap today, don't believe the bears. If you go down to Quinn Market Cap today, don't get caught under wares. For every bear that ever was, will sage ring volumes are down, Google searches are down, and Bitcoin will never reach 10K because today is the day that Bitcoin bears have their pig neck and they're having a lovely time today, but I, Tom Lee, have some things to say. Google searches are not a leading indicator. Trading volumes are up from last year, so 10K is not a problem. Hope you're sitting comfortably. It's time for your weekly Hodler's Digest. Mike Novogratz thinks crypto mania caught regulators flat-footed last year. Regulators were worried when Bitcoin hit $19,000 in December, but were not sure what to do. An example of the mania was when CNBC walked people through buying Ripple, then the price plummeted. That is absolute bullshit and I'll tell you why. This was peak nonsense, according to Novogratz. Now that things have gone down a bit and regulators have had time to think, they want to take action. But Novogratz isn't afraid of the regulators. Going after fraud and market manipulation, he believes, would be a good thing. In terms of securities, he pointed out that Bitcoin was determined as not being a security, and while Ethereum might have been a security in the past, it is not one now. Because regulators weren't ahead of crypto, some tokens are now in a regulatory no-mans land and they have to figure out what to do. Novogratz predicts that they're going to have to single out the worst actors, go after a law firm, or a token, or even a celebrity promoter in order to make an example out of them. Just to say, dudes, play by the rules. He thinks that regulators can play a constructive role in bringing crypto to the masses. Well, Mike, we hope you're right. Many altcoins are suffering from teenager levels of insecurity, regarding securities, not Bitcoin. The SEC chairman Jay Clayton believes that Bitcoin is not a security, because it acts as a replacement for sovereign currencies. He would not comment on specific cryptocurrencies besides Bitcoin, but clarified the SEC's position on tokens. Where I give you my money, and you go off and make a venture, you have some company you want to start, or something you want, and in return for me giving you my money, you say, you know what, I'm going to give you a return, or you can get a return in the secondary market by selling your token to somebody. That is a security. Ripple and Ethereum have repeatedly and emphatically denied that they were ever securities. Ripple is facing a class-action lawsuit from an investor, claiming that the sale of XRP is the sale of an unregistered security, with a former SEC chair recently appointed to represent Ripple in court. But, according to the SEC, ICOs are undoubtedly securities. And the ICO community doesn't get any special favors. We're not going to do any violence to the traditional definition of a security, which has worked well for a long time. The global financial system also worked well for a long time, then came 2008. Besides, what's wrong with a little violence if you're fighting the good fight? Bitcoin is not going to be the panacea that people once thought it would be. Bitcoin will have a role in the future, but not one that will see it solve major problems, like becoming a global currency. Big talk from Garlinghouse there, who can't seem to solve Ripple's problem of getting on to major exchanges. Brad Garlinghouse said Bitcoin blockchain is quite slow, whereas Ripple transactions are a thousand times faster. Shots fired? Well, no. Garlinghouse doesn't think in terms of one coin versus another. He believes overall growth in the crypto space will result in many winners. However, Bitcoin's ability to affect the price of other cryptocurrencies will soon come to an end, as people realize the differences between coins. Ripple does have some troubles. A disgruntled investor has filed a class-action lawsuit that claims Ripple violated U.S. securities law. Garlinghouse calls the claims outrageous. He is not worried that the lawsuit will determine whether Ripple is a security. He is confident that Ripple is in fact not a security. From an ownership point of view, XRP doesn't give you any ownership of Ripple equity. And also, XRP has a lot of utility, so to me it's quite different from what a security looks like, and I think ultimately we'll find that conclusion. One Bitcoin is about the same value as the world's most valuable note. Issued in 2006 by Sultan Hassan al-Bulkya, the $10,000 Bruni dollar note is worth about $7,000, not quite enough to buy a whole Bitcoin depending on the day. The huge domination is not very practical for buying a coffee, but useful during wartime or for criminal activity. The currencies may be similar in value, but Bitcoin and Bruni are worlds apart. Bulkya is one of the world's richest leaders due to Bruni's plentiful oil fields. He is also one of the last absolute monarchs, pretty much as centralized as you can get. The banknote goes against global trends. Most nations are moving away from high-denomination bills. The EU got rid of theirs, citing fears that the bills could be used to money launder or finance terrorism. We at Cointelegraph always advise to hodl, but if you do sell, maybe consider converting your Bitcoin into $10,000 Bruni dollar denominations. It may not be all that divisible, but it is certainly more portable. Now time for some WTF. King of WTF, John McAfee, has announced he's running for president, preferably for his beloved Libertarian party. But if the rape and murder allegations are a bad look for that party, he'll just form his own party. When he ran in 2016, it seemed like a ridiculous idea. Then Trump happened, and now, anything can happen. Say what you like about the man personally. He is bullish on Bitcoin. Earlier this year, McAfee said Bitcoin would hit $1 million by the end of 2020. Would you vote for the first crypto president? Whatever happens, at least the memes will be cool. This week, Bitcoin died for the 300th time, according to 99Bitcoins' Bitcoin obituary list. Bitcoin severed its most recent death in a Forbes article. Forbes believes Bitcoin's Achilles heel is its huge energy consumption, adding that miners underestimate these risks. In total, Bitcoin died 62 times this year. Big names in the finance world have offered their own obituaries for crypto. Warren Buffett described Bitcoin as rat poison squared, and Bank of England Governor Mark Carney claims that Bitcoin has failed as a currency. However, amid the fudmeisters, there is Steve Woz Wozniak, and he is back again with more Bitcoin hype. Apple co-founder said at Money 2020 that Bitcoin is pure digital gold and spoke about the benefits of both Bitcoin and blockchain. He reminded everyone that he's not an investor. He sold most of his Bitcoin, but kept one along with an ether. It was just an experiment for him, but he is a believer. Might be a bubble, but it's on the right track. Click the link below to watch more from the Steve Wozniak interview. And while you're there, go check out our exclusive block show interviews with top people from the crypto world. And as always, like, subscribe, and hodl.