Latest / Simply Bitcoin / Why Is The Price Of Bitcoin CRASHING?! (Bull Run Cancelled?) | EP 1312

Transcript

Why Is The Price Of Bitcoin CRASHING?! (Bull Run Cancelled?) | EP 1312 · Simply Bitcoin

• 0:00
  Why did the price of Bitcoin drop by 9% over the last four
• 0:05
  days to levels we haven't seen in a week?
• 0:07
  Well, there is new data showing that whales are accumulating
• 0:10
  Bitcoin alongside BlackRock and the Bitcoin ETFs.
• 0:14
  BlackRock now owns about 750,000 coins.
• 0:18
  So the real question everyone is asking is why is Bitcoin
• 0:22
  dumping? And I guess the leading question
• 0:25
  is where is Bitcoin going next? So I'm not alone.
• 0:29
  We finally got Nico back in the. Building He's back.
• 0:33
  He's back from being an influencer and influencing all
• 0:36
  of Europe, but let's get into this.
• 0:37
  So I'm just going to drop some data here for you guys.
• 0:40
  Let's go over some of these numbers.
• 0:41
  Of course, you know Bitcoin price.
• 0:43
  We had all time highs on the last week.
• 0:46
  It hit around 124 K. Currently we're down around 115
• 0:50
  K and I I have been getting friends texting me guys.
• 0:53
  If we don't pump in the next couple of days, it's bear market
• 0:56
  for a few years. And Nico and I keep saying, and
• 0:59
  I think everyone in the chat keeps saying the same thing.
• 1:01
  All of my friends that are in media are like, there's too much
• 1:04
  good news for this to be the end of the bull run.
• 1:07
  And then people that are like, bro, market dynamics, you, you
• 1:10
  don't understand the bear division on the daily and the
• 1:12
  weekly in the floor. I'm like, whatever, dude, it
• 1:14
  doesn't matter. The accumulation that we are
• 1:17
  seeing here is that unprecedented level.
• 1:20
  So I'm over here on coin glass. Just going to look.
• 1:22
  At some of the numbers here you can see total net inflows of
• 1:25
  589.26 1000 Bitcoin trading volume 536.35 million total net
• 1:31
  assets 152.18 billion. Now I really want to go here to
• 1:37
  the ETF heat map. Guys.
• 1:38
  Look at this. I bet BlackRock ETF, which is
• 1:41
  going to really lead into our news story.
• 1:44
  I'm sure you guys heard some interesting stuff coming out
• 1:47
  from Larry Fink. We're going to cover that later
• 1:48
  on in the day, but I bet the Bitcoin ETF at BlackRock has now
• 1:54
  accumulated 750,000 coins. Combine that with Sailor they
• 1:58
  hold, I think it was like 1.35 million coins.
• 2:02
  It's it's insane. The amount of accumulation going
• 2:04
  on right now is just nuts. And then of course, some of the
• 2:07
  other big competitors, FBTC, Fidelity's Bitcoin ETFs, roughly
• 2:11
  around 200 K Bitcoin, Grayscale Bitcoin ETF 180,000 and then
• 2:16
  there's some smaller, some smaller players, but you can see
• 2:19
  they are accumulating a lot of Bitcoin.
• 2:21
  This is over a million Bitcoin that they have acquired now.
• 2:24
  I know a lot of people have been saying this is paper Bitcoin
• 2:27
  summer. Are they actually buying the
• 2:29
  Bitcoin from everything we can see, especially with in kind
• 2:32
  redemptions coming to ETF soon, they are actually acquiring all
• 2:36
  of that Bitcoin and here's some other charts doesn't matter, but
• 2:39
  really looking into the numbers of the BlackRock IBIT ETF is
• 2:43
  absolutely crazy guys in the last.
• 2:45
  Week. I bit from BlackRock has
• 2:47
  acquired 7493 Bitcoin. Of course, this isn't BlackRock,
• 2:51
  this isn't Larry Fink just buying Bitcoin.
• 2:53
  This is customers at BlackRock wanting Bitcoin and you go to
• 2:57
  down to these numbers. It's absolutely crazy.
• 2:59
  The week before, 1400 coins, a week before that, 3000 coins.
• 3:03
  A week before that, 2.2000 coins.
• 3:06
  A month ago, 21,000 coins. 5 weeks ago, 15,000 coins.
• 3:10
  You you get the picture. They're acquiring 10s of
• 3:13
  thousands of coins every week, or rather in the last a couple
• 3:16
  of months, I have acquired a lot of coins here.
• 3:20
  And when you really breakdown just how much Bitcoin actually
• 3:23
  hits the network every single day, it's around 4:00 or it's
• 3:26
  actually 450 coin. You can't keep the price at this
• 3:30
  level for that long with the quote UN quote amount of Fiat
• 3:33
  coming into Bitcoin. Now of course they are doing
• 3:36
  this buying in a way so it doesn't affect the price, but it
• 3:40
  really makes you wonder when we were doing the show in the
• 3:42
  morning or rather getting the show ready for you guys.
• 3:45
  We we asked. Themselves, one simple question
• 3:48
  like at what price will all of these institutions send Bitcoin
• 3:53
  to and then where is their sell points?
• 3:55
  Are they acquiring this Bitcoin long term?
• 3:57
  Are we going to see some trading happen where they have a price
• 3:59
  point then they dump the market? Well, it looks like we are kind
• 4:02
  of in one of these positions right now. 124K is a very strong
• 4:07
  resistance level here. You can see there's a lot of
• 4:09
  selling if you look at the charts and maybe I'll pull up
• 4:11
  the charts when Nico starts talking.
• 4:13
  You can see the reaction we got from 124K was vicious.
• 4:17
  And then we got one at 117 K We're around 115 today, you
• 4:22
  know. The price is.
• 4:23
  Really not moving much in in terms of historical kind of
• 4:27
  volatility in Bitcoin. 4%, two percent, 6 percent, 9%.
• 4:32
  That's really nothing when it comes to long term Bitcoin
• 4:35
  holders to us bitcoiners, we've been here for a long time.
• 4:39
  You know what's 9% decline between friends?
• 4:41
  That's that's just another walk in the park here for us
• 4:44
  bitcoiners that have been doing this for a long time.
• 4:46
  But it's not just the Bitcoin ETFs that are scooping up
• 4:49
  Bitcoin. It's not just the corporate
• 4:51
  treasuries that are scooping up Bitcoin.
• 4:53
  We have just identified. Well it wasn't us.
• 4:55
  It was Adam back identified the bit Fenix whale is back and he's
• 5:00
  buying $600.00 per second or buying up all of the Bitcoin per
• 5:05
  day 450 Bitcoin a day from about you know, 8:30 Central Eastern
• 5:10
  Time around 150 K. So hey, if you're selling right
• 5:15
  now because you think it it's going into a bear market, you
• 5:18
  can sell it to the whales. They're scooping up the cheap
• 5:21
  sats right now. This is not the time to be
• 5:23
  selling. Which really leads me to my last
• 5:26
  point here. This is where I'm going to bring
• 5:28
  Nico in and we can have this conversation.
• 5:31
  I saw this this morning and it's very interesting.
• 5:34
  Excuse me, I don't know who this guy is, Rex Fencer, but this is
• 5:38
  a good account there. Rather this is a good tweet here
• 5:41
  and this is kind of the vibe I've been getting.
• 5:43
  Me and Luke were talking this morning and we both kind of came
• 5:46
  to the same conclusion. It feels like we are in a bear
• 5:49
  trap. Kind of territory right here.
• 5:52
  Remember the Wall Street psychological chart?
• 5:55
  You. You.
• 5:55
  We. Were in like what disbelief last
• 5:58
  week or a couple of weeks ago where like I don't think this
• 6:00
  rally's real. We did pump a little bit and
• 6:03
  then it feels like we are in this bear trap and I'm getting
• 6:07
  these DMS from my friends. I'm getting these text messages
• 6:10
  from my friends saying it's over boys.
• 6:12
  Anyways, here's the numbers 2011.
• 6:14
  The, you know, first start of the bull run was nine months.
• 6:18
  Bear trap hit in month 6/20/13 the same thing.
• 6:21
  The duration of the bull run was nine months.
• 6:23
  The bear trap hit in sick at month 6.
• 6:25
  Same thing for 2017, same thing for 20/21.
• 6:28
  And we are currently in month 6 right now of what we think is
• 6:33
  the bull run right now. So who knows if this is going to
• 6:36
  play? Out but it does feel like we.
• 6:38
  Are in bear trap territory of course.
• 6:40
  This is astrology. For men, we're just trying to
• 6:43
  make sense of what's going on with the price here.
• 6:45
  Considering we have all of this really good news coming out of
• 6:48
  Bitcoin, or rather around Bitcoin saw the institution
• 6:51
  jumping in. We're seeing nation states jump
• 6:54
  in. We're seeing unprecedented
• 6:55
  levels of buying from corporate treasuries.
• 6:58
  The ETS are scooping up 10s of thousands of basically a million
• 7:01
  coins. It's hard to see how we can stay
• 7:04
  where we are right now. And I know I've been a broken
• 7:06
  record. I've been saying the same thing
• 7:07
  for a while. Again, you do can't or rather
• 7:10
  you can break this down and very simple buy demand economics.
• 7:14
  There has been a lot of coins that are hitting the exchange
• 7:17
  right now. They there is a lot of selling
• 7:18
  right now from some Ogs, from some whales.
• 7:21
  We're not here whale watching. You can just see on the network
• 7:25
  10s of thousands, actually hundreds of thousands of coins
• 7:27
  have been sold, have been sent to exchanges.
• 7:30
  But at that same time, all of those coins are being scooped up
• 7:33
  right now. So we are speculating.
• 7:35
  We obviously don't know where the price of Bitcoin is going.
• 7:38
  We're just here to tell you guys, today is probably not the
• 7:41
  time to panic. And if you panic sold over the
• 7:44
  weekend, what are you doing? You need to be acquiring
• 7:47
  Bitcoin. I'm still convinced Q3Q4 is
• 7:50
  going to be an incredible end of the year.
• 7:52
  That's my kind of working thesis right here.
• 7:55
  And I do have one more interesting chart to really, you
• 7:57
  know, put a bow on this. But Nico, good to have you back,
• 8:01
  man, You, you let me high and dry last.
• 8:03
  Week, But what do you? Think about the price.
• 8:05
  Are we in bear trap territory? Bull run over?
• 8:08
  What do you think about all of these institutions acquiring
• 8:11
  Bitcoin? What's your vibe right now?
• 8:13
  We're just going to do a vibe check to start today's show.
• 8:16
  Dude, well, first of all, happy to be back man Holy cow.
• 8:19
  I've been on so many flights the last couple of weeks and I do
• 8:22
  want to give a shout out to Opti for holding it down.
• 8:25
  I mean Opti, I mean, I can't thank you enough bro, because
• 8:29
  you literally hold it. You held it down for an entire
• 8:32
  week straight back-to-back. And of course shout out to the
• 8:35
  rest of the Co host Sophie, which I know has become a fan
• 8:38
  favorite, Luke and of course, of course our boy Chris.
• 8:41
  But as it relates to the price, yes, you're absolutely right.
• 8:45
  If you are selling Bitcoin right now, you are selling it to an
• 8:49
  institution. And we want Bitcoin in the hands
• 8:52
  of individuals. We don't want Bitcoin in the
• 8:56
  hands of governments. We don't want Bitcoins in the
• 8:59
  hands of BlackRock. We want Bitcoin in the hands of
• 9:03
  institutions. Now what I will say.
• 9:05
  Individuals, individuals thank. You for catching me?
• 9:09
  This is exactly why I wanted you to start the show today, because
• 9:12
  I'm, I'm, I'm a little bit rusty.
• 9:13
  I mean, I've. Took a week.
• 9:15
  A week, man. I've been travelling what was in
• 9:17
  Latvia for Baltic Honey Badger and then I went I went to
• 9:21
  Helsinki for a Bitcoin conference there.
• 9:24
  Shout out Canute and Luke for hosting me and now.
• 9:27
  I'm in. I'm in.
• 9:28
  Madrid, I'll be in Madrid for the next couple weeks or so.
• 9:31
  So what I was saying is you want Bitcoin in the hands of
• 9:34
  individuals and what I'm seeing specifically with this market
• 9:38
  and I've been tweeting this out, I think I tweeted this out like
• 9:41
  2-2 or three days ago. I said this market, every single
• 9:46
  person that has tried to predict what has happened has got it
• 9:52
  catastrophically wrong. We are in completely uncharted
• 9:57
  territory. I mean, this could be the type
• 10:00
  of thing where the cycle might break next year.
• 10:03
  We might not have a bull market in 2026.
• 10:08
  Traditionally what happens in Bitcoin cycles is the price goes
• 10:12
  up the year of the halving, then the year after the halving
• 10:16
  having the price tends to go bear parabolic.
• 10:19
  That is 2025. However, 2025 we have not had a
• 10:24
  parabolic year. The day of Trump's inauguration,
• 10:28
  Bitcoin was sitting at 109,000. Currently, eight months later,
• 10:33
  Bitcoin is sitting at 116,000. In between we dropped to 76,000.
• 10:40
  Does that sound like a bull market to you?
• 10:42
  That doesn't sound like a bull market to me.
• 10:45
  Going from 109 K to 116 K. To be fair, we did start the
• 10:51
  year at 95 K. I'm sorry, that doesn't sound
• 10:54
  like bull mark. That doesn't sound like a bull
• 10:57
  market in Bitcoin terms. That's like a what, 15 to 25%
• 11:01
  return, which in any other category would be fantastic.
• 11:06
  But in Bitcoin it's a little bit lackluster.
• 11:09
  And I think everybody, everybody's feeling it.
• 11:12
  So why is this happening? Like could you explain it?
• 11:15
  Why is this happening? Why is this phenomenon
• 11:17
  happening? I think it has to do with very,
• 11:21
  very big players that are taking some chips off the table.
• 11:25
  These are people that bought Bitcoin under $1000.
• 11:28
  They've gotten more than 100 X return.
• 11:31
  And what I think they're doing is that they're cycling that
• 11:34
  Bitcoin into some of these Bitcoin treasury companies.
• 11:37
  So they're selling that spot Bitcoin.
• 11:40
  They're using that cash to buy exposure into these treasury
• 11:45
  companies where they think they can outperform the price of
• 11:48
  Bitcoin so that they can buy more Bitcoin.
• 11:52
  We also know that there's OG selling and I don't blame them.
• 11:55
  I mean, if you're, if you have more than 100 X return, which
• 11:59
  most people don't see in their lifetimes, that is life changing
• 12:03
  for a lot of people. So I think there's Ogs that are
• 12:07
  selling. But the good news is this,
• 12:09
  eventually there won't be any more Bitcoin to sell, right?
• 12:14
  And that's when the price tends to go up.
• 12:17
  And the good news for you guys is the more we consolidate at
• 12:22
  these levels, we have this crab solidation as I like to call it,
• 12:27
  the stronger the foundation for the eventual leg up.
• 12:31
  The analogy that I always use is imagine a beach ball.
• 12:35
  You put a beach ball underwater in a pool or in the ocean.
• 12:39
  And the deeper you push that beach ball, eventually when you
• 12:43
  let that beach ball go, it just shoots up.
• 12:47
  It shoots up out of the water, then it shoots up into the sky.
• 12:50
  The deeper you put it into the into the water, the more
• 12:54
  explosive force that goes up. So when we are consolidating at
• 12:59
  all time highs at $116,000 per coin, that is very good because
• 13:06
  again you're consolidating on a foundation, you're building that
• 13:11
  foundation one thing, but I will tell you guys.
• 13:14
  This as well. We haven't made all time highs
• 13:17
  in gold terms and if you adjust Bitcoin for inflation, we
• 13:22
  haven't made technically all time highs since 2021.
• 13:26
  If you address if you adjust Bitcoin purchasing power for
• 13:30
  inflation, we haven't made all time highs.
• 13:32
  So this is a very weird cycle. I think things changed as soon
• 13:38
  as the institutions got involved.
• 13:42
  I think it's as when the institutions got involved, you
• 13:45
  no longer had retail buying. And retail buying is simple
• 13:49
  smash buy, right? When you have institutions
• 13:52
  buying, they're buying it in a way not to mark up the price.
• 13:56
  In fact, they might want the price to go down because that
• 14:00
  means that they can buy more Bitcoin.
• 14:03
  So it's just kind of like wrap this up, like why is this
• 14:06
  happening? I think it's a combination of
• 14:09
  institutional manipulation so they can buy more Bitcoin.
• 14:13
  I think it could be potentially a little bit of some paper
• 14:16
  Bitcoin. I know that's not very popular
• 14:18
  to say these days. And then I think it's a
• 14:20
  combination of Ogs taking a little bit off the top to
• 14:24
  upgrade their their lifestyle. So it's a combination of all
• 14:27
  these factors. But as an individual tuning into
• 14:31
  simply Bitcoin, you have to ask yourself, if you're selling
• 14:34
  Bitcoin now, number one, what are you selling it for?
• 14:37
  You're selling it for dollars. So you're selling it for
• 14:40
  something that's inferior. You're selling it for something
• 14:43
  that you can print an unlimited amount of, right?
• 14:47
  So you're selling something that's absolutely scarce for
• 14:49
  something that is not scarce whatsoever.
• 14:53
  So that's a bad trait, right? And then if you're scared that
• 14:57
  we've already reached the top, what I will say is I've bought
• 15:02
  in every top and I've bought in every bottom because what I do
• 15:05
  is I just dollar cost average because I'm not seeing Bitcoin
• 15:09
  as this speculative trade. I'm seeing Bitcoin as a way to
• 15:13
  opt out and I'm seeing Bitcoin as savings.
• 15:17
  And I promise you, if you see it that way, your life will
• 15:20
  improve. Go outside, touch some grass.
• 15:24
  I mean, I think it's the end of the summer after all, but you
• 15:26
  know, it's still amazing weather.
• 15:28
  Be with your family, take low time preference and everything
• 15:32
  will be OK. Your life will get better once
• 15:36
  you switch to a Bitcoin standard.
• 15:37
  So anyways, Opti you did you were talking about.
• 15:40
  Yeah, yeah, I, yeah, I got one more, I got one more metric in
• 15:43
  here, but. Nico, do you have on hand?
• 15:46
  I've actually first of all, I can tell that you hanging out in
• 15:49
  Europe with a bunch of Bitcoiners has really, you know,
• 15:52
  adjusted your views a little bit.
• 15:54
  You you haven't said a couple of these things in a while.
• 15:56
  So this is kind of one of those moments where you're like, This
• 15:59
  is why you go talk with other Bitcoiners, because you and I
• 16:02
  are in echo chamber and you talk with more.
• 16:04
  People, you're like, yeah, you know, there's some points here,
• 16:06
  but someone asked, do you know what the all time high adjusted
• 16:10
  for inflation is? I think I saw Joe Carlisari talk
• 16:15
  about it. Let me pull up that.
• 16:17
  That's a great question. Let me pull up that.
• 16:19
  Let me pull up that post so that I can actually give you the
• 16:29
  actual. But I I know you're right there,
• 16:31
  I just don't remember what the number.
• 16:33
  Is here it is. So let me let me pull this up so
• 16:37
  that you guys could see it and I'll zoom in, of course.
• 16:40
  Excuse me, the inflation adjusted all time high for
• 16:43
  Bitcoin in 2021 in today's dollars is 79,823.
• 16:48
  The current price is 117,000. That means the annual real CAGAR
• 16:54
  since November 2021 has been 10%.
• 16:56
  So let me rephrase that. We have made all time highs if
• 17:00
  you adjusted for inflation, but the CAGAR of Bitcoin, meaning
• 17:04
  the compound growth has only been 10%.
• 17:08
  And remember what Michael Saylor is claiming.
• 17:10
  Michael Saylor is claiming that the the annual CAGR moving
• 17:14
  forward for Bitcoin is going to be, it's going to dwindle, but
• 17:17
  it's going to be from 40% and it's going to go down to 20%
• 17:22
  over the next 20 years. Over the last four years, it's
• 17:26
  been 10%. That doesn't sound very good,
• 17:28
  does it? Doesn't sound very exciting.
• 17:30
  And just to kind of give you guys an idea, in real estate or
• 17:33
  in the stock market, what you're aiming for is an 8 to 10%
• 17:39
  return, right? So that doesn't sound too
• 17:43
  exciting to me, no. Wonder I'm bored.
• 17:45
  Hey, hey Nika. We were promised 30.
• 17:47
  Percent kegger, we're only at 10%.
• 17:49
  Sounds like up. Sounds like we're going up.
• 17:52
  If you adjusted for inflation, right, we're, we've only had
• 17:55
  that now to be fair, right, we did go from $16,000 to 124, I
• 18:04
  believe was the, the last all time high in a matter of two
• 18:08
  years. That's a fantastic return.
• 18:10
  But that's taking into account if you bought the bottom,
• 18:16
  because if you bought the last top, I mean a 6969 K to 120 K,
• 18:23
  it's still a great return, but it's not, you know, fantastic.
• 18:27
  I think a lot of people had expectations that Bitcoin was
• 18:29
  going to reach 150K or 200K or 250K or half a half, $1,000,000.
• 18:36
  I think I still think it can and I still think that this year.
• 18:40
  I agree with you, Opta, you were saying it earlier.
• 18:42
  I agree. I think that this year is going
• 18:45
  to be fantastic. And if it's not fantastic, we
• 18:49
  are in completely uncharted territory.
• 18:53
  Bitcoin has never done this before.
• 18:57
  It has never not gone up in a parabolic fashion.
• 19:02
  The end of the year after the halving, so Q4 of the year after
• 19:09
  the having. It has always gone parabolic
• 19:12
  since its inception. So what does that mean?
• 19:16
  That means November, October, December, right now.
• 19:20
  Does that mean it's going to do it again?
• 19:22
  No one knows, but that's what I expect.
• 19:26
  But as a good friend told me when he came on, simply Bitcoin
• 19:34
  IRL. Bitcoin has a way of taking your
• 19:38
  expectations and just absolutely destroying them, right so.
• 19:42
  The good news is. That number eventually goes up,
• 19:45
  and the reason that number goes up is because they're going to
• 19:47
  print more dollars and it's Infinity divided by 21 million.
• 19:51
  But again, where is this parabola opti?
• 19:53
  We've been scratching ourselves waiting for that dopamine hit
• 19:58
  since 2021, bro. Where is it?
• 20:01
  We haven't. We've gotten a little.
• 20:02
  Teases of it. We've got a little teases of it
• 20:05
  like November of last year, like oh Mike, I feel alive again.
• 20:08
  And then within two weeks, right.
• 20:11
  And then it's like, Oh my God, we hit an all time high.
• 20:14
  We hit 20, you know, 124,000. But it's like.
• 20:18
  So we went from 122 to 124 that were like whoop Dee Doo.
• 20:21
  Like what? What does this matter, right?
• 20:23
  So yeah, if you've been in Bitcoin for a while, right, you
• 20:28
  know, this is different. This is the Bitcoin is maturing.
• 20:32
  It still had incredible returns over the last two years.
• 20:36
  I still think it's going to have incredible returns the next five
• 20:39
  years or so. But the big million SAT question
• 20:44
  is or million Bitcoin question is, is Bitcoin going to out?
• 20:50
  Is Bitcoin going to go into a parabola at the end of this
• 20:54
  year? Well, I would say.
• 20:57
  And is the Bitcoin bull market going to extend into 2026?
• 21:01
  Yeah, No, I'm and I like how you pick that million Bitcoin
• 21:05
  question because that is, you know, what these institutions
• 21:07
  are accumulating at this point of this year.
• 21:10
  And I would say the 1,000,000 Bitcoin question here, or maybe
• 21:14
  it's even more, maybe it's like 2.5 million Bitcoin.
• 21:17
  Question is, is, has Wall Street been able to tame Bitcoin?
• 21:20
  I've been saying for a while, it seems like we're trading the S&P
• 21:22
  500 and we're bored. Like we're just bored to death
• 21:25
  here. It's like, man, Bitcoin's
• 21:26
  boring. Now this, this sucks.
• 21:27
  You know, 10% kegger is boring. What's going on?
• 21:30
  This, this is not what I signed up for.
• 21:32
  I signed up for dopamine rush parabolic runs.
• 21:36
  No, I'm just, I'm just kind of trolling.
• 21:37
  It's Monday. Guys, but I do have.
• 21:39
  One more number here, Nico, and I don't know if you saw this on
• 21:41
  Twitter, but added with everything we're seeing, the
• 21:44
  amount of capital coming into Bitcoin right now is, I would, I
• 21:48
  would say probably bigger than we've ever seen before in the
• 21:51
  history of Bitcoin. Obviously the market cap of
• 21:53
  Bitcoin is bigger. We're not really seeing the
• 21:56
  price move as much as it used to on maybe a daily, monthly,
• 22:00
  yearly level. But with the amount of capital
• 22:03
  coming in, it's hard to see how it isn't going to RIP.
• 22:07
  And this is where this next chart comes in.
• 22:10
  The amount of capital that has come into Bitcoin is tiny.
• 22:14
  It's tiny in comparison to what is available out there.
• 22:18
  So our boys over at TFTC are rather sorry Marty Bent dropped
• 22:22
  this on Twitter and he goes global fund managers are still
• 22:25
  woefully underway Bitcoin. A recent Bank of America survey
• 22:28
  found that just 9% of managers that responded have any exposure
• 22:32
  to Bitcoin, with a weighted average allocation of those who
• 22:36
  have being .3% of assets under management.
• 22:39
  The quote smart money is still missing the best performing
• 22:42
  asset of all time 16 years after to enter the world.
• 22:45
  When they wake up, it's going to get absolutely nuts.
• 22:49
  And we've been kind of covering this.
• 22:51
  We've been seeing the beginning like trickling of capital come
• 22:54
  in. Last week was kind of a huge
• 22:56
  week. I would say though, it was all
• 22:58
  going into the Black Rock ETF, which I will probably bring up
• 23:02
  some speculations later in the show, but the amount of capital
• 23:06
  that is coming into the space, even though these numbers are
• 23:09
  huge, you know they're buying billions of dollars, 10s of
• 23:12
  billions of dollars combined. It's still a tiny amount of the
• 23:16
  capital that can flow in. Again, only 9% of wealth
• 23:19
  managers that responded to this Bank of America survey are in
• 23:23
  Bitcoin and only .3% of their assets under management.
• 23:27
  Again, 30 what's it .3 is that 30% of 1% has entered Bitcoin
• 23:33
  and and we're all like yeah that, you know bear market's
• 23:36
  over bro. My TA is telling me this market
• 23:38
  sentiment is saying that we're going to dump guys.
• 23:40
  Bear market is here three years of sideways action and I'm just
• 23:45
  like there's dude, the capital just hasn't even jumped into the
• 23:49
  space. They literally just like put
• 23:50
  their toe on on you know the raft here and it's already
• 23:54
  making the Bitcoin price move how it is.
• 23:56
  So when you look at it from a more optimistic view here, I
• 24:02
  just don't. It just makes no sense to me.
• 24:04
  Of course, there's a lot of sellers, but the capital hasn't
• 24:07
  even flowed into Bitcoin as it should.
• 24:10
  We are just seeing the beginning of this, guys.
• 24:12
  This is just the beginning. This is just the second domino
• 24:14
  to fall. First one was probably Sailor.
• 24:16
  Second one is all these pension funds getting into ETF or maybe
• 24:19
  we're the third domino, you know, Sailor ETF and now
• 24:23
  everyone allocating from pensions funds to institutions
• 24:26
  to sovereign wealth funds to the whole wave of corporate
• 24:29
  treasuries following Bitcoin. The capital hasn't even arrived
• 24:33
  yet. And I think when everyone comes
• 24:35
  back from summer, we all know, you know, selling may go away
• 24:38
  for the summer times once everyone comes back from Monaco
• 24:41
  or whatever, wherever they are on their yachts.
• 24:43
  Well, what type of friends do you have bro?
• 24:45
  That's not me. That's the bankers, bro.
• 24:47
  They're they're going to come back into the office and be
• 24:50
  like, you know what, we need to start buying this Bitcoin thing.
• 24:55
  So I'm still convinced Q3Q4, it's going up.
• 24:59
  We are going up. OPT is used to those Monaco
• 25:02
  summers when he was. You're the one in Europe bro.
• 25:06
  And when? He when he was with Christine
• 25:08
  Lagarde, you know, that's. That's what they would go.
• 25:10
  French, you know, You know, Nico, I'm not.
• 25:12
  I'm not feening for a, you know, a parabolic dopamine rush.
• 25:15
  I'm feening for wearing those silk scarves again.
• 25:20
  Oh, man. But yeah, no, I, I, I think the
• 25:23
  the point that you brought up with Marty Bent in regards to
• 25:26
  that data, this is the the most perplexing thing to us, right.
• 25:32
  And you know, Opti and I. Have have the.
• 25:34
  Privilege to be able to cover the Bitcoin news for you guys
• 25:37
  every single day or every single weekday and we this has been in
• 25:44
  simply Bitcoin's history, by far the most bullish year that you
• 25:50
  could ever have imagined. This is the type of stuff we
• 25:54
  were salivating about in 2018 like we were like like the the I
• 26:00
  remember it was like the institutions are coming.
• 26:02
  No, they were not. Coming.
• 26:04
  They were not. They were not.
• 26:05
  Even close to coming, the institutions are here.
• 26:08
  The President of the United States has the 6th largest
• 26:12
  Bitcoin treasury company. The White House X account is
• 26:17
  literally posting that they want to make a Bitcoin the they want
• 26:21
  to make the United States the Bitcoin capital of the world.
• 26:24
  We're going to play a clip for you guys during the numbers.
• 26:26
  The new SEC head saying the same thing and the price hasn't done
• 26:33
  anything like what is going on like this is this is the
• 26:37
  question like this is what this is what everyone's thinking
• 26:40
  about, But you know what it it I was taking a look at Opti and
• 26:45
  maybe if you can pull this up while we talk about it.
• 26:47
  And I'm like scrunch. I'm like scrunch back in my
• 26:50
  chair. Let me sit up.
• 26:52
  If you could pull up the chart Opti like the Bitcoin chart of
• 26:55
  just like since its inception because there was a time.
• 26:58
  Wait, which chart? Could you just pull up the
• 27:02
  Bitcoin USD chart since like the I, I just want to show like the
• 27:07
  different cycles because there was something like kind of very
• 27:12
  similar when Mount Gox blew up, I think it was like 2013, right
• 27:17
  Opti? Yeah, well.
• 27:20
  That comeback in terms of of Bitcoin took like it took like 4
• 27:27
  years, right? So like, yeah, yeah.
• 27:29
  So could you zoom in a little bit?
• 27:31
  To back here. Yeah.
• 27:32
  So like zoom in like just yeah. So like go so like there.
• 27:37
  So like from 2013 to 2017, right?
• 27:40
  And you zoom in OK, so you see that like it it was going up,
• 27:47
  right? Like so from could you put up
• 27:49
  the where like the bot where the bottom was Opti.
• 27:52
  So like July of 2015 I think so like July, yeah.
• 27:57
  So like July of 2015. OK, So from July of 2015 to
• 28:03
  2017, the parabola only started at the end, bro, at the end,
• 28:11
  like it only started picking up. Look at that.
• 28:13
  So it was going up, the price of Bitcoin was going up, but it
• 28:17
  wasn't exploding. It was going up, but it wasn't
• 28:21
  exploding. Now, could you go to the present
• 28:24
  like where we are right now, right.
• 28:29
  What does that look like to you? My chart mine.
• 28:32
  What does that look like to you? Compare, like if you compare and
• 28:35
  contrast, right? Look at that, that slow crawl
• 28:39
  up, right? That slow crawl up.
• 28:42
  Now look at, look at the slow crawl up.
• 28:44
  Now what does that look like? OK, OK, what does that look
• 28:51
  like? Right?
• 28:52
  And now you have to ask yourself, why did it take so
• 28:56
  long to recover? Well because remember guys, the
• 29:00
  catalyst of the 2013 crash which was epic, or the 2014 crash was
• 29:07
  the Mount Gox hack which was where the majority of the
• 29:11
  Bitcoin trading was happening. It took the market like 3 or 4
• 29:17
  years to digest that and it was only until 2017 that there was a
• 29:23
  mania. You only get the parabolic rises
• 29:27
  with the mania. Now Opti, could you pull up the
• 29:30
  Bitcoin Google Trends please? Yeah, one second.
• 29:39
  So the point that I'm trying to make is we in 2021 essentially
• 29:49
  got my theory of the case. And I know that a lot of some
• 29:53
  people disagree with me on this, but I'm sticking to my guns here
• 29:57
  is that I think 2021 was cut short.
• 30:00
  And the reason it was cut short is because of the China mining
• 30:04
  ban. If you take a look at the
• 30:06
  Bitcoin price and the Bitcoin hash rate, there's a direct
• 30:11
  correlation between the hash rate dropping 50% and the
• 30:17
  initial correction in 2021. Because in 2021 we got a double
• 30:22
  top. We got the initial run up, we
• 30:25
  got a 50% correction and then we got, we made an all time high,
• 30:30
  but it was barely an all time high.
• 30:32
  But that initial top correlates with the hash rate dropping 50%.
• 30:39
  Now what it a lot of people were underwhelmed with Bitcoin's
• 30:46
  price performance. People back in 2021 were
• 30:50
  expecting 100 Ki think we would have hit 100K if it wasn't for
• 30:55
  the China mining ban. So what I think is happening is
• 30:59
  there's a lot of disillusionment, right?
• 31:02
  You can't explain what is going on right now.
• 31:05
  I tweet, I posted this the other day, I think it was like 2 days
• 31:08
  ago. I, I forget exactly what I said,
• 31:11
  but I was, I said something along the lines of and it, and
• 31:14
  it resonated with people 'cause it got a lot of likes.
• 31:16
  And I said, don't worry. Nobody has any idea what is
• 31:21
  going on with the price action either, right?
• 31:24
  And Opti has the the Google Trends pulled up and you see
• 31:29
  that huge spike that was 2017. So retail hasn't had interest in
• 31:38
  Bitcoin since 2017. Now the last time, the second
• 31:45
  most interested time for retail was back in 2021.
• 31:50
  Even with all time highs, we have not had the level of
• 31:55
  interest on Google Trends since 2021.
• 32:01
  So what does that say? That says that retail is not
• 32:06
  here. Retail doesn't even know Bitcoin
• 32:09
  exists. Now there could be explanations
• 32:12
  for that. What is the explanation?
• 32:14
  People use ChatGPT these days, They don't use Google as much,
• 32:18
  right? Or grok or.
• 32:21
  You know, Opti calls them demons or whatever AI, you know,
• 32:27
  whatever AI engine you choose to use, the Gab 1 is pretty good
• 32:31
  too, and people use that instead of Google these days.
• 32:37
  That could be an explanation. Another explanation could be the
• 32:41
  fact that people aren't buying Bitcoin because they're buying
• 32:46
  ETFs and they're buying the Bitcoin treasuries, right?
• 32:49
  So, you know, we don't know. But the good news is we're about
• 32:54
  to find out, regardless of whatever we are about to find
• 32:59
  out the quarter, 3Q3 and Q4 of this year, whether Bitcoin is in
• 33:06
  uncharted territory or this is a cycle like every other cycle,
• 33:11
  we're about to find out. So buckle up.
• 33:14
  Anyways, guys, it's been a it's, it's a fantastic show. 586 of
• 33:19
  you guys tuned in on YouTube alone. 71 of you guys tuned in
• 33:23
  on Rumble and X coming in hot with 1300 live viewers told
• 33:28
  viewers. I think 2500.
• 33:30
  You guys are enjoying the show so far.
• 33:32
  Make sure to smash it. I'm so smash the like button.
• 33:36
  I'm so happy to be back on the show and really, really miss you
• 33:41
  guys. And during the culture segment
• 33:44
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  last night while I was sleeping. Ladies and gentlemen, Simply
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  All right, everybody, we are. Back smash that like button.
• 37:00
  If you guys are enjoying today's show, we still have tons to
• 37:03
  cover and talk about. We're going to be talking about
• 37:07
  some interesting developments. Ladies and gentlemen, Larry Fink
• 37:13
  is appointed as the chairman to the World Economic Forum.
• 37:19
  That is interesting. We're going to be talking about
• 37:22
  the Bank of International Settlements releasing basically
• 37:26
  a report talking about the different compliance levels.
• 37:32
  Of Bitcoin and I'm going to be making an analysis on where I
• 37:36
  think this is heading because it's I think very obvious where
• 37:39
  this is heading but before we do that I do want to.
• 37:45
  Let you guys know where the prices at the time of recording.
• 37:48
  It's 116,000 three $320 block height 910,631 sats per dollar
• 37:56
  860 sats per dollar Market cap 2.32 three 2.32 trillion Bitcoin
• 38:04
  versus gold market cap 9.8%. Still ways to go decline from
• 38:08
  all time high it seemed. It doesn't even seem that bad
• 38:11
  when you look at it percentage wise bro.
• 38:13
  Decline from all time high -6.5% and then the realized monetary
• 38:17
  inflation .84%. All right, I want to talk about
• 38:21
  this gentleman right here. His name is Gary Gensler, and
• 38:25
  you guys all know, right? It was weird because he went
• 38:28
  from being a super fan of Bitcoin to essentially, you
• 38:33
  know, attacking the industry with the previous
• 38:36
  administration. It was like super, super
• 38:38
  strange, man. It was like.
• 38:42
  You know, like he was an expert on it and he talked very
• 38:47
  positively about Bitcoin. But when push comes to shove,
• 38:52
  look, the reality is that the previous administration was very
• 38:56
  hostile towards us. Like that is the truth.
• 38:59
  That is the reality like that. That's actually what happened.
• 39:03
  Right. So, you know, like.
• 39:06
  It is what it is. Now this brings me to the next
• 39:09
  point, which I know is potentially unpopular with some
• 39:12
  of you guys. I always tell you this.
• 39:14
  I said elections have consequences.
• 39:17
  So what does that mean? It's self-explanatory, right?
• 39:21
  Because I know Bitcoiners don't like politics in general.
• 39:25
  They think the system is fundamentally broken, which it
• 39:28
  is. But that doesn't mean that Fiat
• 39:31
  politics don't have relevance. That doesn't mean that Fiat
• 39:35
  politics are not important. In fact, I would say they are
• 39:39
  important. Why are they important?
• 39:42
  Because before you had Gary Gensler, who is the head of the
• 39:45
  SEC, who was part of the most hostile SEC towards Bitcoin in
• 39:53
  history. Even when the ETF was approved,
• 39:57
  he was dragging his feet. He didn't want it to happen
• 40:02
  despite him being an expert on it, right?
• 40:04
  And I think, I think that the pressure came from the previous
• 40:07
  administration. I mean.
• 40:09
  The the the. Executive branch the White
• 40:11
  House. But what I mean by elections
• 40:14
  have consequences. Take a look at what the new SEC
• 40:21
  chair is saying about Bitcoin. It's complete night and day.
• 40:27
  Which again makes my point, elections have consequences.
• 40:31
  So yes, buying Bitcoin and voting with your wallet, putting
• 40:35
  that Bitcoin into self custody is by far the most important
• 40:39
  vote you can make. But as we head into the midterms
• 40:44
  next year in the United States, Opti and I will be talking about
• 40:50
  pro Bitcoin candidates because you want pro Bitcoin candidates
• 40:56
  in office in your jurisdiction. If you don't want to move, if
• 41:01
  you don't want to be this dyspora that's this, constantly
• 41:05
  moving to different places. If you actually want to be able
• 41:09
  to stay in the same location. Yeah, you, you, you got to vote
• 41:15
  for pro Bitcoin candidates. It's as simple as that.
• 41:17
  So take a look at this latest video again on legacy media with
• 41:23
  the new head or the newly appointed chair of the SEC, Paul
• 41:29
  Atkins and what he had to say about Bitcoin.
• 41:34
  So a couple of weeks ago, the the administration issued the
• 41:39
  President's Working Groups report on digital assets in the
• 41:43
  United States. And there are clear directions
• 41:46
  to the SEC. We're part of the PWG that
• 41:49
  presents working group and clear recommendations for us to go
• 41:53
  forward and help make what the president has announced that his
• 41:58
  intention to make America the crypto capital of the world and
• 42:01
  have the world run on American technology.
• 42:03
  So we're mobilizing at the SEC, all our different divisions and
• 42:07
  offices to focus on making that, that announcement become
• 42:14
  reality. So that's with our corporation
• 42:16
  finance division, investment management and, and others.
• 42:20
  We're focusing on what we can do to, to make the regulations of
• 42:25
  the SEC encompass the crypto assets and, and, and also make
• 42:31
  it so that people can have some clarity going forward.
• 42:35
  We're, we're working with Congress.
• 42:37
  Obviously the, the Genius Act was enacted here a few weeks ago
• 42:43
  with a big announcement at the White House by the president
• 42:45
  himself and as he signed it. So that I thought was a very
• 42:49
  good step forward. And now there are other bills in
• 42:53
  Congress that are being considered.
• 42:55
  And when they return from their their recess, you know, I look
• 43:00
  forward to much more forward progress.
• 43:03
  So again, a complete night and day contrast compared to the
• 43:09
  previous administration that was openly hostile.
• 43:13
  Now you're talking about basically someone saying quote
• 43:17
  the S, not someone the head of the SEC.
• 43:20
  We're mobilizing to make America the quote UN quote crypto
• 43:25
  capital of the world. And this again, to kind of wrap
• 43:28
  it up to weave it back in, this is what I mean.
• 43:32
  Elections have consequences. Previous election.
• 43:37
  Our industry was pushed into a corner.
• 43:40
  We were got, we were forced to act.
• 43:43
  And in DC, if you're not in the room, you're not in the deal.
• 43:46
  Now we're in the room in DC. Now Bitcoiners are part of the
• 43:50
  donor class, right? So I'm going to end it with
• 43:54
  that. I'm going to pass it on to.
• 43:55
  Opti, because Opti, we did get a whole lot of heat, man, when we
• 43:59
  first brought this up, you know, there's the infamous Opti gate
• 44:04
  that was happening when we tried to remain neutral for so long
• 44:08
  when we were kind of trying to thread the needle.
• 44:11
  But then eventually when the when the samurai guys got
• 44:17
  arrested, you know which is. We we had to speak up as an
• 44:21
  industry. We had to free Ross.
• 44:23
  We had to listen, guys. If.
• 44:26
  If Trump didn't win the last election, Ross would still be in
• 44:30
  prison right now, right? So yes, as much as as Bitcoiners
• 44:34
  believe in the world from the sovereign individual, which I
• 44:38
  think that world is an eventuality, it's going to
• 44:41
  happen right now during the transition period.
• 44:45
  Unfortunately, it is what it is. Fiat politics still matter, and
• 44:50
  I think that interview. Is a a great representation of
• 44:54
  that compared to the previous SEC head which just was terrible
• 44:59
  towards our industry. Just so many attacks.
• 45:02
  Attacks on pro Bitcoin banks, attack on the mining industry,
• 45:07
  attack on self custody, arresting industry leaders.
• 45:12
  Left and right, Yeah. Opti, what's your take bro?
• 45:16
  Yeah, Well, on the surface, I've been saying this for a little
• 45:20
  bit. I really do like the rhetoric
• 45:21
  coming out of the administration, whether it's the
• 45:24
  Trump administration, whether it's the SEC or CFTC.
• 45:27
  We've seen a lot of really good rhetoric coming out from the
• 45:31
  administration. And I do like it.
• 45:33
  But that's why I'm using the word rhetoric right now is
• 45:35
  because it does it does sound really good.
• 45:38
  And we are seemingly on the verge of a lot of things coming
• 45:44
  down the pipeline, which does make me hopeful here, especially
• 45:47
  as an American Bitcoiner. But really on a worldwide level,
• 45:51
  whatever happens in the States, whether you like the United
• 45:53
  States or not, is going to have an impact on the rest of the
• 45:56
  world. And so having an SEC friendly
• 45:58
  administration or sorry, SEC friendly, yeah, administration
• 46:03
  towards Bitcoin, it really does make me kind of hopeful about
• 46:07
  what's going to come. I'm still kind of on the fence
• 46:10
  of it. I, I am a little paranoid about
• 46:13
  kind of over regulation in our industry because you know, this
• 46:17
  is kind of what they do. It could be set with good
• 46:19
  intentions and I'm just hoping that there isn't kind of some
• 46:22
  secondary second order effects that really kind of impact our
• 46:27
  industry in a way that no one saw coming.
• 46:29
  Well, I mean, maybe Bitcoiners saw them, but if just like
• 46:32
  comparing it to what Gary Ginzer was, I think it is night and
• 46:36
  day. Like you said, Nico, it it is
• 46:38
  very hopeful that things are happening in the right
• 46:41
  direction. With that being said, as we
• 46:45
  always say, the most important thing is people using Bitcoin,
• 46:47
  people holding Bitcoin, people putting Bitcoin in the cold
• 46:50
  storage, running nodes, etcetera, etcetera, etcetera.
• 46:52
  And like we said in the beginning, as much as there is a
• 46:56
  lot of interest coming from institutions, it's really
• 46:59
  wanting the individuals to start holding Bitcoin.
• 47:01
  Now, I know for a long time, US Bitcoiners kind of we're hoping
• 47:05
  that we would see this like grassroots movement, that it
• 47:09
  would be a, you know, bottom up movement.
• 47:11
  But kind of what we're seeing the thing now is like it's a top
• 47:14
  and bottom movement happening at the same time.
• 47:17
  And it's the people in the middle that are really going to
• 47:19
  get blindsided when Bitcoin does what it does.
• 47:22
  And so I, I really hope more people kind of, you know, take
• 47:26
  the orange pill, people really wake up to what's going on.
• 47:29
  And if you look at the world right now and like, there's a
• 47:30
  lot of a lot of crazy stuff going on in the financial world
• 47:34
  right now that I think a lot of people are are really blindsided
• 47:37
  to it. Like they, they are really blind
• 47:39
  to what is going on. And it, it is kind of sad.
• 47:42
  Like it really is kind of terrifying how many people
• 47:45
  really are sleepwalking and don't know what's going to
• 47:47
  happen. And This is why we try to do
• 47:49
  what we do. This is why the 100K number to
• 47:51
  us is so important on YouTube is because we believe you meet them
• 47:56
  where they are. The majority of traffics is on
• 47:58
  YouTube. We want more people to
• 47:59
  understand what's going on with Bitcoin.
• 48:00
  But a lot of people still fight Bitcoin.
• 48:03
  They still fight this, this idea of Bitcoin being successful
• 48:07
  because it's completely contrary to what they're used to.
• 48:11
  And people learning that is going to be the biggest battle
• 48:14
  that we're facing. And again, maybe I've been
• 48:16
  saying it for a while and maybe this is just, you know, a simple
• 48:19
  truism is just we are, I would say I'm going to do we the
• 48:24
  collective, we the collective Bitcoiner here are bad at orange
• 48:27
  Pilling just the average person because we want to kind of show
• 48:30
  Bitcoin in a way that made sense and resonated with us.
• 48:34
  But a lot of people have different price points.
• 48:35
  And one of the things that I think is right now happening is
• 48:38
  people just don't have money. Like people don't understand
• 48:40
  what's going on. If you have some in capital,
• 48:43
  you're probably already set. You're you're comfortable.
• 48:45
  You don't really, you know, kind of like dissect what's going on
• 48:50
  in the financial system. You're just kind of, hey, I'll
• 48:53
  buy real estate. I'll, I'll, I'll buy the S&P
• 48:55
  500. Like my returns are good enough.
• 48:58
  And then on the other side, it's just like you don't have any
• 49:00
  money to buy Bitcoin. And then everyone in the middle,
• 49:02
  you're either on the Bitcoin train, which is very few amount
• 49:07
  of people, or you're kind of just like going on and trying to
• 49:11
  figure out how to survive. So I really do hope that in an
• 49:14
  administration like the SEC, like the Trump administration
• 49:18
  kind of jumping into Bitcoin, I really hope that this does open
• 49:23
  people's eyes to, hey, this is something you actually have to
• 49:26
  own. Like this is something that will
• 49:27
  save you. If you save in Bitcoin, you will
• 49:30
  get on the safety boat. Here.
• 49:33
  And let's just hope that more of this regulation does kind of
• 49:36
  open Bitcoin into a totally different paradigm.
• 49:40
  And I, I think that's what's happening.
• 49:41
  I think what we're seeing slowly and of course we are also seeing
• 49:44
  kind of, I would, I believe, and I don't have the statistics on
• 49:47
  me, but again, more of a vibe check.
• 49:49
  I do believe we are entering the 4th turning and it does feel
• 49:53
  like trust in institutions are at the lowest levels ever.
• 49:57
  People, you know, either they trust the science too much or
• 50:00
  they completely disregard all the science, quote UN quote.
• 50:03
  And so people just don't trust what's coming from the
• 50:06
  institutions. And maybe this is something
• 50:08
  that's gonna backfire here. Like I know a lot of people will
• 50:11
  probably not like Bitcoin because of the Trump
• 50:13
  administration embracing it. And that's really only hurting
• 50:16
  them. And so hopefully more people
• 50:18
  come into the space, hopefully once we see this price come, I
• 50:21
  think Q3Q4, we'll start to see the price running and you know,
• 50:25
  maybe the greed. Bug comes back in Nico and
• 50:27
  people want to buy some Bitcoin savings from Bitcoin.
• 50:30
  It sounds fun. I, I, I don't know, man.
• 50:33
  I haven't, I haven't that dopamine, bro, since 2021, dude.
• 50:37
  It's been a long time. It's been a long, long time,
• 50:41
  man. I don't even, I forget what that
• 50:43
  feels like. I've gotten little glimpses of
• 50:45
  it here and there, man. But you know, will Bitcoin ever
• 50:49
  have a parabola again? I think that's a great question
• 50:52
  actually, to ask the chat. Opti, let me make that poll.
• 50:56
  Could you hold it down while I make the poll?
• 50:59
  Yeah, sure. I I don't know what you're
• 51:02
  saying. I was in the chat.
• 51:04
  No, no, Nico. Just just hit the ad hit that
• 51:06
  let's. Let's keep it moving to the
• 51:07
  next. Segment.
• 51:08
  I'm gonna, I'm gonna, I'm gonna set up the.
• 51:09
  Poll while I have it, guys, make sure to drop your questions in
• 51:13
  the chat, Opti that we're going to talk about during the culture
• 51:16
  and also I'm going to drop a poll on the YouTube chat
• 51:19
  basically asking you guys, will Bitcoin ever have a parabola
• 51:22
  again? We'll be right back in just a
• 51:25
  second. We're going to hit the news
• 51:26
  segment. We're going to be talking about
• 51:28
  some very, very interesting things, some things that you
• 51:30
  want to pay attention to because this is what is happening.
• 51:36
  All right, everybody, we'll be back in just a couple seconds.
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  15% off anything on the store. All right, everybody, we are
• 53:32
  back. Ladies and gentlemen, We got to
• 53:37
  talk about, you know who we're fans of here at Simply Bitcoin,
• 53:42
  of course. Mr. Mr. Larry Fink, which Max
• 53:47
  Keiser has coined the Bitcoin employee of of the month many,
• 53:53
  many times. And yeah, I mean.
• 54:00
  I'll just dive straight into it and then we'll add commentary
• 54:03
  so. The World Economic Forum clears
• 54:07
  Mr. Schwab Klaus of wrongdoing, appoints interim Co chairs And
• 54:13
  who are those Co chairs? The World Economic Forum closed
• 54:17
  an investigation on its founder Klaus Schwab on Friday, clearing
• 54:20
  him of any wrongdoing. Appointed BlackRock CEO Larry
• 54:25
  Fink and Rush Holdings Vice Chairman Andre Hoffman as
• 54:31
  interim Co chairs of its board. So, so they are in term, right?
• 54:39
  So that that infers that they're not going to be chairs until an
• 54:45
  official chair is appointed, but.
• 54:48
  What a weird world do we live in, right?
• 54:53
  You know, we're not big fans of, of the World Economic Forum.
• 54:56
  You'll own nothing and be happy of, of this.
• 54:59
  Basically all these elites in in Davos and Switzerland basically
• 55:05
  making rules for the entire world and a lot of the energy
• 55:10
  policies that they expect people to go along with.
• 55:16
  They're flying their private jets into Davos, right?
• 55:20
  It like you know, again, it's rules for thee, not for for me.
• 55:24
  You'll own nothing and be happy. OK, so then who will own
• 55:27
  everything? You know that's conveniently
• 55:29
  left out right? So we're.
• 55:31
  Not really big fans of the world at Economic Forum, and they're
• 55:33
  not really big fans of Bitcoin either, right?
• 55:37
  And what's really strange is now one of Bitcoin's leading
• 55:41
  proponents in the traditional financial markets, Larry Fink
• 55:46
  was just appointed Co chair of the World Economic Forum.
• 55:51
  Now you could see this in many different ways.
• 55:55
  You could see it as, dude, we are literally winning.
• 55:58
  We have literally made it inside the World Economic Forum.
• 56:04
  A pro Bitcoiner has made it. Klaus has been Klaus is out and
• 56:11
  now we have a bitcoiner or someone who's pro Bitcoin inside
• 56:15
  the organization. You can see that as winning,
• 56:18
  right? You can see that as winning.
• 56:20
  I mean, he's smiling. I'm kind of smiling.
• 56:23
  I'm I'm cautious about this, right?
• 56:27
  I I'm not a big fan of this organization, But now that Klaus
• 56:32
  is gone for alleged misconduct, not a big surprise there.
• 56:38
  And again, I love how it's like he's been cleared of any
• 56:40
  wrongdoing. So you guys, you guys
• 56:43
  investigated yourselves, right? That's like when when the Fed
• 56:46
  investigates, it's just the one any.
• 56:48
  Organization investigates itself like oh wow you didn't do
• 56:51
  anything wrong look at that what a surprise but again, the the
• 56:58
  CEO of the world's largest asset manager, which also has the.
• 57:03
  Leading. And most popular Bitcoin ETF,
• 57:07
  the I bit ETF is now the Co chair of the World Economic
• 57:13
  Forum. Like dude, reality is stranger
• 57:17
  than fiction. If I would have told you this
• 57:19
  two years ago you would have been no if I would have told you
• 57:22
  five years ago. Check this out.
• 57:24
  If I would have told you five years ago.
• 57:27
  Klaus Schwab has been kicked out for alleged wrongdoing.
• 57:34
  Larry Fink changed his tune from saying that Bitcoin is an index
• 57:39
  of money laundering to preaching Satoshi's gospel on CNNBC and
• 57:46
  taking. Klaus Schwab as chairman, seat
• 57:50
  at the World Economic Forum. You would not have believed.
• 57:53
  Me. OK, So I think we're winning.
• 57:56
  I think I'm, I'm cautiously, I'm cautious about this.
• 58:00
  I'm cautious about this now, Topty, I want to get your
• 58:04
  thoughts on this before I move on to the actual meat and
• 58:07
  potatoes of this, but I thought I would mention it because, you
• 58:11
  know, yeah. Yeah, I'm not.
• 58:16
  I'm not as optimistic as you are.
• 58:18
  I'm taking the other, the other side of the coin here.
• 58:23
  My take when I heard this news is guys do not be buying the
• 58:26
  BlackRock. I bit ETF right now this this
• 58:30
  has me feeling weird all up and down my spine.
• 58:33
  This is not what I want to see though.
• 58:35
  Am I surprised? Not at all.
• 58:37
  Larry Fink was one of the top ESG proponents.
• 58:41
  Obviously the World Economic Forum has been one of the, the,
• 58:43
  the basically was their mandate. And only recently did we see
• 58:48
  kind of BlackRock drop a lot of these ESG mandates when it
• 58:52
  really became super unpopular. And then they pretty much
• 58:56
  scrapped it. And remember a lot of a lot of
• 58:59
  the narratives coming out of the World Economic Forum was this
• 59:01
  idea like, we will force this behavior to happen.
• 59:04
  Well, that kind of backfired on them and they realized, you
• 59:08
  know, go well, go broke. And so they had to drop all of
• 59:11
  this stuff. And now we're seeing a totally
• 59:14
  different game being played. And I'm not the only one to say
• 59:17
  this, but there is kind of this trend going on right now where,
• 59:21
  you know, free markets are kind of the new trend.
• 59:24
  They're they're the new hype right now.
• 59:27
  And this idea of like controlling the free market is I
• 59:30
  think the next generation of the World Economic Forum forcing
• 59:34
  behaviors is where, you know, free markets maybe being more
• 59:38
  conservative is kind of the hype.
• 59:40
  It's it's the new zeitgeist going on right now.
• 59:43
  And so they frame this idea like, hey, guys, you know, the,
• 59:45
  the skateboarding, like we're hit, man, like we're super hit.
• 59:48
  We see where the conversations going.
• 59:50
  We see where the population is going, like we see where the
• 59:53
  culture is going. And therefore, you know, they
• 59:56
  kind of angle in this direction that hey, you know, we're hip
• 59:59
  guys, we know what's going on in the world, you should probably
• 1:00:02
  buying Bitcoin, you know, freedom of speech, etcetera.
• 1:00:05
  When I hear things like this, it really gets my Spidey senses
• 1:00:08
  tingling and it makes me think that a lot of the stuff that
• 1:00:11
  we're doing here is bitcoiners that we're doing maybe more
• 1:00:15
  freedom of speech, freedom Maxie's this narrative is being
• 1:00:18
  Co opted and they're going to try to essentially neuter the
• 1:00:23
  the movement going on because they see that this is the
• 1:00:25
  movement right now and. So seeing Larry think like, am I
• 1:00:28
  surprised? Obviously not Blackrock's one of
• 1:00:31
  the what? BlackRock is probably the
• 1:00:33
  biggest corporation in the world.
• 1:00:34
  They were one of the biggest ESG proponents.
• 1:00:37
  Yes, they have the best performing Bitcoin ETF and you
• 1:00:39
  could argue that, hey, you know, a Bitcoiner now or someone that
• 1:00:42
  is pro Bitcoin or at least less anti Bitcoin is Co interim chief
• 1:00:48
  of the World Economic Forum. That's not the take that I'd I
• 1:00:52
  would view this at my take would be, guys, we know where this is
• 1:00:55
  going And and I think you're going to bring up the rest of
• 1:00:58
  this and I I was kind of covering it last week.
• 1:01:01
  We know what they want to do is they don't want you holding
• 1:01:05
  Bitcoin, so they're going to kind of corral you into these
• 1:01:08
  vehicles that you can't actually hold Bitcoin and I'll stop there
• 1:01:11
  and you go, 'cause I think you're going there, right?
• 1:01:14
  Yes. And this is my next.
• 1:01:17
  But read this Nico. Read the statement a little bit
• 1:01:20
  because it is short and I think there is some telling stuff in
• 1:01:23
  here. OK, so this is an official.
• 1:01:26
  Press release from the WEF and they say we are honored to take
• 1:01:32
  on this leadership role on an interim basis at a pivotal time
• 1:01:37
  for the WEF. As the organization moves into a
• 1:01:40
  new chapter, we look ahead with clarity, purpose, and confidence
• 1:01:45
  in the forms enduring mission. OK anyways the world is more
• 1:01:51
  frag like. Who?
• 1:01:54
  Who the fuck? Excuse me?
• 1:01:56
  Who the? F for you.
• 1:01:57
  Guys, I. Didn't vote for you guys.
• 1:01:59
  I didn't like what it's like they talk with this hubris of
• 1:02:04
  like the world's would not exist.
• 1:02:08
  The world would not function if it wasn't for us.
• 1:02:12
  You know us benevolence all seeing.
• 1:02:16
  Elite with this wisdom to rule the world.
• 1:02:20
  Like bro no the world I think would be much better if the WEF
• 1:02:24
  wasn't around. In my humble that's just my
• 1:02:27
  opinion but like I mean you'll own nothing and be happy.
• 1:02:33
  That's a terrible effing idea anyways.
• 1:02:36
  The world is more fragmented and complex than ever, but the need
• 1:02:40
  for a platform that brings together business, government
• 1:02:43
  and civil society has never been greater.
• 1:02:46
  We believe the forum could serve as a unique catalyst for
• 1:02:50
  cooperation, one that fosters trust.
• 1:02:53
  You guys have absolutely not done that whatsoever at all.
• 1:03:00
  For. Anybody that is not in the elite
• 1:03:03
  class identify shared goals. Again, completely failed at
• 1:03:10
  that. Unless you're talking about the
• 1:03:12
  elite class and turns dialogue into action, we remain
• 1:03:17
  optimistic. They're mentioning.
• 1:03:18
  They're literally mentioning Opti in the in the in the press
• 1:03:25
  release, which is fantastic. Anyways, this could be a jab by
• 1:03:30
  by Chrissy towards Opti, who knows?
• 1:03:32
  The forum has an opportunity to help drive international
• 1:03:36
  collaboration in a way that not only generates prosperity for
• 1:03:41
  who? But distributes it distributes
• 1:03:44
  it more broadly, No, you want to distribute prosperity more
• 1:03:49
  broadly. It's very simple, my friends.
• 1:03:54
  It's. Very simple, buy Bitcoin, earn
• 1:03:58
  Bitcoin, my Bitcoin. Put that Bitcoin into self
• 1:04:01
  custody. You will get wealthier over
• 1:04:04
  time. That's how it goes.
• 1:04:06
  You don't. Need a forum?
• 1:04:09
  Or a government or a politician's help for you to
• 1:04:14
  start doing that today. That's number one.
• 1:04:16
  Number two in general, if you. Want to end wealth inequality,
• 1:04:22
  which I do believe is a problem by the way, because if you have
• 1:04:26
  too much wealth inequality in a society, the society literally.
• 1:04:31
  Revolts like. You, you want to know why the
• 1:04:34
  French Revolution happened? This is literally why it
• 1:04:37
  happened. There was a massive gap between
• 1:04:40
  the wealthy and everybody else. And then enough people said
• 1:04:45
  enough is enough. I can't handle it anymore.
• 1:04:48
  The same thing is happening, by the way, with the younger
• 1:04:53
  generations. You probably if you're a
• 1:04:57
  millennial or a Gen. ZR unless you're in the top 1%,
• 1:05:02
  even if you're in the top 1% of the income bracket for that age
• 1:05:05
  group, you probably are having a hard time affording a home or
• 1:05:10
  renting something without the help of your parents.
• 1:05:14
  That isn't normal and the single reason for as to why that is
• 1:05:19
  happening is literally central banking.
• 1:05:23
  So if Nikko could just tell you this on a live stream, we don't
• 1:05:28
  need this, we don't need this. I would say this makes it worse,
• 1:05:33
  right? This makes it worse.
• 1:05:34
  How do you fix the wealth inequality?
• 1:05:36
  You end central banking and you adopt Bitcoin.
• 1:05:39
  That's it. You don't have to.
• 1:05:41
  You don't have to wait for central banking to end, by the
• 1:05:43
  way. You could just adopt A Bitcoin
• 1:05:46
  right now as an individual and your life will get better.
• 1:05:49
  Why? Because it's the only currency
• 1:05:53
  on planet Earth. And shout out to Jeff.
• 1:05:55
  Booth, which I just. Got the pleasure to hang around,
• 1:05:59
  hang around with in in in Helsinki and shout out to him.
• 1:06:05
  This is where I'm getting it from.
• 1:06:07
  Bitcoin is the only money that is actually going to reflect or
• 1:06:14
  better said value your work in the natural state of the free
• 1:06:21
  market, which is naturally deflationary.
• 1:06:25
  So what that means is you should be getting wealthier as time
• 1:06:32
  goes by. Why?
• 1:06:34
  Because of the productivity increases due to technology.
• 1:06:40
  I mean, look at your iPhone, look at your computer, look at
• 1:06:44
  your Android phone, look at like we're literally taking metal
• 1:06:47
  tubes and transporting across the world.
• 1:06:51
  We're literally live streaming Opti's thousands of miles away
• 1:06:55
  from me right now and we're streaming simultaneously to you
• 1:06:59
  guys all around the world. Like the technology has been
• 1:07:03
  fantastic, but somehow the are the younger generations are
• 1:07:08
  poorer. Well, yeah, it's central
• 1:07:11
  banking. And what is the mechanism?
• 1:07:13
  Like why does that happen? What happens?
• 1:07:15
  Because every time they print money, the wealthier get richer
• 1:07:21
  because they have their wealth and assets and the lower middle
• 1:07:25
  class that are earning and living paycheck to paycheck,
• 1:07:30
  they don't have the means to save in assets.
• 1:07:33
  Their earnings are getting the base when the when the central
• 1:07:37
  bank prints that is. Literally the cause.
• 1:07:42
  And of course, we have a solution as Bitcoiners.
• 1:07:44
  Now this leads me to my next bit, which is where I think this
• 1:07:47
  is going, right? I think there's going to be two
• 1:07:51
  classes of Bitcoin moving forward if we're not vigilant.
• 1:07:57
  Last week Opti covered this a little bit when he was talking
• 1:08:00
  about or highlighted the fact that the Google Store,
• 1:08:04
  essentially due to laws in Europe, the Mika laws, was
• 1:08:09
  essentially going to take away self custodial wallets off the
• 1:08:14
  store. Now I think my two cents here,
• 1:08:20
  my opinion, I think that would have remained.
• 1:08:24
  So I think that policy would have remained in place if it
• 1:08:30
  wasn't for the community speaking up and saying something
• 1:08:35
  about it. Now why am I saying this?
• 1:08:39
  Like, why? Why am I speculating about this?
• 1:08:42
  Because this is speculation. The reason I'm saying it is
• 1:08:46
  because the signs are all there, right?
• 1:08:49
  The signs are all there. This is a one of the one of the
• 1:08:53
  latest insights or reports by the Bank of International
• 1:08:58
  Settlements. The Bank of International
• 1:09:02
  Settlements with the Financial Action Task Force basically is
• 1:09:10
  pushing for this regulation on the Bitcoin and crypto industry.
• 1:09:17
  And it had a lot of influence towards the Mika regulations.
• 1:09:22
  And essentially what's happening is the current system functions
• 1:09:28
  with intermediaries. I'm going to just break it down
• 1:09:31
  to like first principles in the basics, right?
• 1:09:35
  If I send Opti $100 on Cash App, it goes from my bank account to
• 1:09:45
  Cash app to Opti's Cash App. And then if Opti wants to
• 1:09:50
  withdraw it to his bank account, he could do that.
• 1:09:53
  If I send a Zelle, it's the same thing.
• 1:09:57
  If I send a wire transfer, it's the same thing.
• 1:10:01
  There's always an intermediary in place.
• 1:10:05
  What makes Bitcoin different is that there is no intermediary.
• 1:10:11
  And what has happened over the last 100 years or so, 50 years,
• 1:10:18
  is that the intermediaries have become enforcement arms.
• 1:10:24
  That was never their real purpose, but that's what they've
• 1:10:28
  become. So it's a lot easier to get a
• 1:10:34
  handful of banks, a dozen or so banks to enforce something than
• 1:10:41
  it is to get millions and millions and millions of people
• 1:10:46
  to go along with an enforcement, especially if they don't see
• 1:10:51
  that enforcement as just. So if you're talk, you can start
• 1:10:56
  talking about capital controls. You can start talking about if
• 1:11:00
  you live in a certain country, right?
• 1:11:02
  You can't send money to, let's say a family member overseas
• 1:11:08
  just because you live in that certain country.
• 1:11:11
  Bitcoin comes in and says, hey, all of a sudden you can transact
• 1:11:18
  peer-to-peer without asking anybody for permission.
• 1:11:24
  Now, I've always said Bitcoin exposes incentives.
• 1:11:28
  What it exposed is essentially you don't need an intermediary
• 1:11:34
  in order for money to function. You can even go out on a limb
• 1:11:38
  and say you don't need government in order for money to
• 1:11:42
  function. You don't need a bank in order
• 1:11:46
  for money to function. So what happens to those
• 1:11:51
  institutions when this disrupting technology comes into
• 1:11:57
  place? They've tried everything the
• 1:12:02
  last 10 years to try to shut this down.
• 1:12:08
  We've reached the phase where they've realized we cannot shut
• 1:12:13
  this down. But they can't directly come out
• 1:12:17
  and tell you and say, hey, guys, we don't want you using Bitcoin
• 1:12:24
  because it takes power away from us.
• 1:12:26
  They can't say that. Because if they said that,
• 1:12:29
  people would be like. Did you deserve?
• 1:12:32
  That power in the first place. Or we bestowed you this trust.
• 1:12:38
  We bestowed government the trust of money, and you've inflated it
• 1:12:43
  away, right? You've debased the hell out of
• 1:12:45
  it. Bitcoin comes in and says, hey,
• 1:12:50
  there's an alternative, and that alternative is better.
• 1:12:53
  And guess what? No one controls it.
• 1:12:55
  It's rules. It's just just rules without
• 1:12:58
  rulers, right? So what do they have to do?
• 1:13:02
  They have to come out with very sly ways and terminologies to
• 1:13:09
  try to convince people that, hey, without these regulations,
• 1:13:15
  without these checks, things become dangerous.
• 1:13:20
  So what does that mean? I'm going to weave it back in.
• 1:13:23
  It means that what they want is that they want people using
• 1:13:29
  custody Bitcoin. They don't want people using non
• 1:13:34
  custody to Bitcoin. And take a look at that, that
• 1:13:36
  phrasing and that wording there, right, Non custody Bitcoin, that
• 1:13:42
  term does not exist. That was an that was an invented
• 1:13:45
  term, just like the term unhosted wallet.
• 1:13:49
  That term doesn't exist. What does unhosted mean?
• 1:13:53
  It means unhosted to the intermediary because they can
• 1:13:57
  control the intermediary. But what about self custodial
• 1:14:02
  wallet? What about a self custodial
• 1:14:04
  wallet? A self custodial wallet?
• 1:14:07
  You are the intermediary, you are the boss, you are the one
• 1:14:11
  that makes the rules. So got all of that out in the
• 1:14:17
  open to give you guys the context to this.
• 1:14:20
  So the BIS is releasing proposes grading wallets for
• 1:14:25
  permissionless blockchain AML. So it goes from strong and it
• 1:14:31
  goes to weak. And I told you that there was
• 1:14:33
  going to be two types of Bitcoin.
• 1:14:35
  I believe heading into the future.
• 1:14:38
  There's going to be the so-called, to use their terms, a
• 1:14:42
  tainted Bitcoin and there's going to be a clean Bitcoin,
• 1:14:47
  right? And I think what I think is
• 1:14:50
  going to happen next and I think Mika, the Mika regulations are
• 1:14:53
  like, kind of like a, like a, like a prelude to this is
• 1:15:01
  they're basically going to say, listen, you can't take self
• 1:15:05
  custody because we can't verify the AML and the KYC.
• 1:15:11
  If you send that self custody Bitcoin to someone else, the
• 1:15:15
  only way we can verify it is if you send that self custody
• 1:15:21
  Bitcoin from or or sorry, that custody Bitcoin from this
• 1:15:26
  exchange to this other exchange and then you don't have Bitcoin,
• 1:15:31
  then you have a continuation of the current system.
• 1:15:36
  That is what I think is going to happen.
• 1:15:38
  That is the direction of which where I think we're heading and
• 1:15:42
  I think that's the next battle to come.
• 1:15:44
  But here's the good news and I'll end it with this because
• 1:15:46
  I've been on on a little bit of a soapbox rant.
• 1:15:51
  This is the last Test. And by the way, I think we are
• 1:15:55
  failing this test on epic, epic proportions because ever since
• 1:16:04
  the introductions of the ETFs and the Bitcoin treasury
• 1:16:07
  companies, the amount of people that are taking self custody for
• 1:16:12
  the first time in Bitcoin's history has actually decreased.
• 1:16:19
  If we actually want the world to change, we want a better world.
• 1:16:25
  We need to empower individuals, and the way that individuals are
• 1:16:32
  empowered is by reclaiming back their financial sovereignty via
• 1:16:39
  taking Bitcoin into self custody.
• 1:16:44
  If individuals do not do that, if there's not a critical mass
• 1:16:49
  of individuals that do that, the Bitcoin experiment will have
• 1:16:54
  failed, full stop. That is their next trick in the
• 1:16:58
  book. It's incredibly obvious.
• 1:17:01
  And we have a pretty good darn track record of predicting
• 1:17:07
  Bitcoin of tomorrow's Bitcoin news today.
• 1:17:11
  So anyways, Opti, I'm going to hand it off to you.
• 1:17:13
  I know I went a little bit long, but I want to get your thoughts
• 1:17:17
  on this. I know you talked a little bit
• 1:17:19
  about this last week with the with the Google Play store.
• 1:17:25
  I know they reversed it. But I, I kind of see the writing
• 1:17:29
  on the wall with when it comes to this specific subject, like,
• 1:17:32
  listen guys, the line in the sand is self custody.
• 1:17:36
  That's it. It's a, it's a non negotiable
• 1:17:39
  situation. And don't let them convince you
• 1:17:43
  that somehow writing down 24 words and holding on to your own
• 1:17:49
  money is somehow dangerous to society.
• 1:17:53
  Like that is. That is an absurd argument.
• 1:17:57
  Because that's literally what the argument is in my opinion.
• 1:18:02
  So anyways, Opti, I want to get your thoughts.
• 1:18:04
  I know we've gone, we've gone a little bit long and then we're
• 1:18:07
  going to hit the culture segment and we're going to talk a lot
• 1:18:11
  about a lot of other things. And also guys stay.
• 1:18:13
  Tuned because at the end of the show we will be giving away some
• 1:18:17
  Satoshi's. Yeah, so I did cover the biz
• 1:18:21
  stuff and the Google Wallet stuff.
• 1:18:23
  But I do find it interesting that we got all three of these
• 1:18:26
  news stories in the same wink. And you guys know me.
• 1:18:29
  I I didn't bring my tinfoil hat on today on the show today.
• 1:18:32
  I actually haven't built 1 yet, but I've been thinking about
• 1:18:36
  building 1. You sure would be hilarious.
• 1:18:39
  But I mean, when we heard the Google Wallet Play Store story,
• 1:18:44
  of course, I did a tweet and it was like Bitcoin passes Google's
• 1:18:48
  market market cap as the 5th largest ass in the world.
• 1:18:52
  The very same day we found out Google wanted to ban self
• 1:18:54
  custody, like poetic. Then literally the following day
• 1:18:57
  we got this Bank of International Settlement, which
• 1:19:00
  if you don't know, is the central Bank of all central
• 1:19:02
  banks out there dropping this report, basically saying, hey,
• 1:19:06
  you know, we're, we're going to tag and bag everything.
• 1:19:10
  We're going to, we're going to add something like Ordinals on
• 1:19:12
  top of this Bitcoin network so that we can, you know, keep you
• 1:19:15
  guys safe and we, and we can minimize the money laundering.
• 1:19:18
  And, and then at the very end of the week, we have Larry Fink
• 1:19:22
  becoming the interim of the World Economic Forum.
• 1:19:25
  And this is where I was going a minute ago, where you, you're
• 1:19:28
  starting to see and, and Nico's been spot on on this for a
• 1:19:30
  while. You're starting to see what the
• 1:19:32
  playbook is. And of course, maybe, you know,
• 1:19:34
  we're, we're reading into this a little too much.
• 1:19:36
  But again, only the paranoid survive here.
• 1:19:39
  And this when we when the 1st 2 news stories dropped last week,
• 1:19:42
  the Google Play story and the Bank of International Settlement
• 1:19:46
  report. What I was saying is
• 1:19:48
  essentially, look guys, the only way to really protect yourself
• 1:19:50
  from this is self custody. You need to be taking this
• 1:19:53
  Bitcoin into your control. Even if they're saying, you
• 1:19:57
  know, unhosted wallets are bad and it's for criminals or
• 1:19:59
  whatever. This is the only way to fight
• 1:20:01
  against this. Now you add the second wrinkle
• 1:20:04
  of Larry Fink, literally the head of the biggest Bitcoin ETF
• 1:20:09
  in the world right now, and you are starting to see where this
• 1:20:12
  is going. They are going to essentially
• 1:20:15
  incentivize you or find ways to incentivize you to not.
• 1:20:19
  Hold your Bitcoin, whether that's calling you a criminal,
• 1:20:21
  whether that's blocking you from downloading wallets onto your
• 1:20:23
  phone, or whether it's trying to get your gains in the ETF.
• 1:20:27
  And so you don't actually hold that Bitcoin.
• 1:20:29
  It's all going the same direction.
• 1:20:31
  If they can't control the layer one Bitcoin network, which is
• 1:20:36
  what we're all interacting with currently, if they can't control
• 1:20:39
  the network, then they're going to find ways to essentially put
• 1:20:42
  you in, you know, some kind of playpen here where like, yeah,
• 1:20:45
  you get Bitcoin games. Yeah, you're going to get
• 1:20:48
  whatever your 5X returns in Fiat or Bitcoin exposure in Fiat
• 1:20:52
  terms the next 10 years or something like that.
• 1:20:54
  But you can't actually interact with Bitcoin.
• 1:20:57
  You are seeing where this is going.
• 1:20:59
  And I think you know, what's the saying, Nico, There is no
• 1:21:02
  coincidences, but there's no I, I forget.
• 1:21:05
  I forget what the meme. Is a side note.
• 1:21:07
  This is hilarious. Zelinsky is wearing a suit while
• 1:21:09
  meeting with Trump. Of course, of course.
• 1:21:12
  It it seems like he needs a a new a new bill.
• 1:21:15
  It seems like he's going to ask for some money.
• 1:21:17
  But you are seeing the direction here.
• 1:21:19
  They want to stop self custody. They can't actually do that.
• 1:21:23
  So they're you know, they're trialing certain things here.
• 1:21:26
  And I really just got a double echo what I said a minute ago,
• 1:21:30
  you should not be buying the BlackRock ETF.
• 1:21:33
  Personally, I would say you shouldn't be buying ETFs at all.
• 1:21:36
  You should be buying spot Bitcoin, taking that into
• 1:21:38
  custody. The more people that interact
• 1:21:41
  with Bitcoin directly using their own keys, using their own
• 1:21:44
  nodes. This is how we can fight against
• 1:21:46
  this. Yes.
• 1:21:47
  You know, we don't have the capital that these institutions
• 1:21:50
  have, but if you own your own money, that is the goal here.
• 1:21:55
  Even if it's freaking what, 32 SAT generational wealth here.
• 1:21:59
  Even if it's the 32 SAT here, at least you know that you can send
• 1:22:03
  that money wherever you want without anyone stopping you.
• 1:22:05
  And that's the goal here. More people interacting with
• 1:22:08
  Bitcoin, actually using Bitcoin so that you can send money where
• 1:22:13
  you are. And if you really can do that,
• 1:22:15
  or rather get as many people doing that, then we
• 1:22:17
  disintermediate the middleman. And then they are completely
• 1:22:21
  irrelevant with what's going on in in finance, in money.
• 1:22:25
  And we know that their power comes from their control of
• 1:22:27
  money. This is, of course, something
• 1:22:29
  that's been seen coming down the pipeline for a long time.
• 1:22:32
  When they start losing control of the money, they're going to
• 1:22:36
  do whatever they can to scramble for more control, whether these
• 1:22:40
  were trial runs or not, whether these are just, you know,
• 1:22:43
  thesises proposals, it they're telegraphing what they want you
• 1:22:47
  to do, they don't want you holding Bitcoin.
• 1:22:49
  So what are we going to do guys? We're going to hold more
• 1:22:51
  Bitcoin. In our own keys.
• 1:22:54
  Absolutely, guys. If it's not, if it's if it's not
• 1:22:57
  your keys, it's not your cheese. Anyways, guys, we're going to be
• 1:23:00
  giving away some sats. We're going to hit the culture
• 1:23:03
  segment again, very historic milestone for simply Bitcoin and
• 1:23:06
  celebration. Appreciate you guys and of
• 1:23:09
  course we have the results from the poll that we dropped.
• 1:23:12
  So we're going to be right back in just.
• 1:23:14
  One second, here we go. I want to give a shout out to
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  our partner Hive Digital Technology.
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  Digital. Tech or at Hive?
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  Digital. Tech.com I want to give a shout
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  IO. Join today where Bitcoin meets
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  freedom. All right, everybody, we are
• 1:25:26
  back Opti. Before, before, before we pass.
• 1:25:30
  It on to you. I do want to end the poll.
• 1:25:33
  Will Bitcoin ever have a parabola again?
• 1:25:36
  75% of you guys voted yes with 225 votes. 24% of you guys voted
• 1:25:43
  no. And yes.
• 1:25:45
  You, you see if you, if you're listening.
• 1:25:48
  If you're tuning in on audio, ladies and gentlemen, Simply
• 1:25:54
  Bitcoin broke 100,000 subscribers last night.
• 1:26:01
  Or early morning depending on where you are in the world.
• 1:26:05
  This has been a crazy, crazy journey.
• 1:26:12
  You know when I started this in 2020?
• 1:26:17
  There was no Bitcoin content. There was no Bitcoin only
• 1:26:20
  content. There was Andreas, there was Max
• 1:26:23
  and Stacy. There was a lot of crypto
• 1:26:26
  content, but there was no Bitcoin only content.
• 1:26:29
  And I had a dream and I was lucky enough to meet someone who
• 1:26:37
  I consider my brother at this point.
• 1:26:40
  Opti 2 years ago and. Dude it's like 3 now.
• 1:26:43
  I think we're. Three years ago.
• 1:26:46
  And ever since Opti joined, the channel basically took off and
• 1:26:52
  of course we had Rustin. And.
• 1:26:57
  Rustin, join us. Jacob, join us.
• 1:27:00
  I see a lot of people asking in the chat.
• 1:27:02
  Dante. Listen, guys, Dante needed a
• 1:27:05
  break, OK? He's going to be back.
• 1:27:06
  He's going to be back this week, don't worry, OK?
• 1:27:10
  And we had Dante join us, and now, now Sophie, my wife, who's
• 1:27:16
  making content for us. And of course, all the people
• 1:27:20
  behind the scenes that make simply possible.
• 1:27:23
  Bryson, Morpheus, Jacob Wine. And who am I missing?
• 1:27:32
  Opti, the new content creator. All are editors.
• 1:27:37
  All are, of course, are editors who make this possible.
• 1:27:45
  Love you guys Achmed, Parnika, Suraj, you know not be possible
• 1:27:53
  without all you guys and we're so grateful to be here and of
• 1:27:58
  course our partners, the partners that support us today
• 1:28:02
  and the. Partners, Oceans, there's too
• 1:28:04
  many people here. Oceans, of course, Ashton and
• 1:28:10
  all our partners that, that, that, you know, fund the show.
• 1:28:14
  We would not be on like we got to pay for the bills guys.
• 1:28:17
  So you know, we wouldn't be here without our partners, our
• 1:28:21
  current, our current partners and our previous partners.
• 1:28:23
  So we're so grateful for for all of you guys and all the viewers
• 1:28:29
  and, and our partners, just we wouldn't be here without you
• 1:28:32
  guys. And this has been a dream of
• 1:28:34
  mine for half a decade. And, you know, it became a dream
• 1:28:39
  of opties, too, when he joined me three years ago.
• 1:28:43
  And it's I, I, I'm lost. I'm at a loss for words.
• 1:28:47
  This is surreal. This is, this is, this is what
• 1:28:49
  you dream of? Megan.
• 1:28:51
  This is and, and Megan, this, this is this wouldn't, this of
• 1:28:56
  course, and Megan and Zemo Media, of course, you know, I,
• 1:29:00
  I, I'm at a loss for words. I, this is what you, this is
• 1:29:03
  what you, you dream of when you start you, when you're a
• 1:29:06
  YouTube, this is 100K. This is what you dream of,
• 1:29:09
  right? And I was taking a look at the
• 1:29:11
  numbers the other day. Only .03% of Youtubers ever
• 1:29:17
  reach 100,000 subscribers. So we're incredibly thankful.
• 1:29:23
  Thank you guys so much from the bottom of my heart.
• 1:29:25
  It really, really means the world to us.
• 1:29:28
  And here's to the next 100 KA 100,000 subscribers and then.
• 1:29:34
  This is the next. 900,000 I'm throwing it out there, you know,
• 1:29:39
  maybe one day a million bro, which should be, you know,
• 1:29:43
  insane. So thank you guys a lot.
• 1:29:46
  We really, really appreciate. It.
• 1:29:47
  Oh yeah, Chris. Chris.
• 1:29:50
  Chris in the chat, bro and Luke, Chris and Luke.
• 1:29:53
  Luke, Chris. Luke, Sophie, of course.
• 1:29:57
  So many people to thank. Yeah, wow.
• 1:30:04
  I shot the bat on all the shout outs.
• 1:30:07
  So many incredibly important people, you know?
• 1:30:13
  So anyways, all right, that's my bit Opti.
• 1:30:16
  Yeah, man, obvious. Look, I joined simply, I think
• 1:30:20
  our YouTube was at 5K then and it's been a long journey.
• 1:30:25
  Yeah, I actually Nico, should we?
• 1:30:26
  Should we say the? The the quote we always tell
• 1:30:29
  ourselves behind the scenes of if we knew how hard it was, we
• 1:30:32
  probably. Wouldn't have done it.
• 1:30:34
  Yeah, So. And that quote comes from the
• 1:30:38
  NVIDIA CEO. And he's like, if I knew how
• 1:30:43
  painful it was going to be when I.
• 1:30:45
  Started I probably. Wouldn't have done it.
• 1:30:47
  And I think like OBTI and I, when we when we like, when we're
• 1:30:54
  doing this channel, like especially in the early days,
• 1:30:58
  all of that naivety is like what has allowed us to persevere
• 1:31:04
  because like guys, you guys see the finished product, right?
• 1:31:08
  Like you guys see the show and you guys like, you know, you
• 1:31:12
  guys see it as a viewer, but the amount of BS.
• 1:31:17
  That you have to deal with. In the background is insane,
• 1:31:22
  right, Whether it's on all I'm I'm just not going to get into
• 1:31:27
  the specifics, but on everything, right, like on
• 1:31:30
  everything that you can, anything that you can imagine
• 1:31:34
  has probably happened to us at one point or the other.
• 1:31:38
  So, you know, that's what makes reaching this milestone that you
• 1:31:46
  know, that's what makes it that that amazing.
• 1:31:49
  Right. Is that despite all the stuff
• 1:31:52
  that you encounter, you know, you still persevere and you
• 1:31:56
  still continue. And yeah, it's, it's, it's just
• 1:32:01
  been absolutely freaking wild. And yeah, I mean Opti like.
• 1:32:09
  I mean it I. Didn't we think it was?
• 1:32:12
  We thought it was going to be so easy.
• 1:32:15
  Like we thought this was going to be a layup.
• 1:32:17
  We were just like, let's just keep making videos and
• 1:32:20
  eventually things are going to work out and like everything's
• 1:32:23
  going to be fine. Like that's what you're thinking
• 1:32:25
  Like, because you think about, you're like, it can't be that
• 1:32:27
  hard, like. It is so.
• 1:32:30
  Effing hard. You have no idea.
• 1:32:32
  Yeah, no, Nico, you, you reminded me and and then I'll,
• 1:32:35
  I'll give you know my thanks to everything.
• 1:32:36
  But you reminded me when I joined, I, I joined simply
• 1:32:42
  Bitcoin. What was that?
• 1:32:44
  2022? We could barely get 1000 views
• 1:32:47
  on a video. And I, you know, I quit
• 1:32:50
  everything in my life to do this because I saw the vision back
• 1:32:53
  then and we had like 5K Subs on YouTube.
• 1:32:58
  We didn't even have a rumble then.
• 1:32:59
  We didn't, weren't even streaming to Twitter yet.
• 1:33:02
  We just had a YouTube channel, barely had a Twitter.
• 1:33:05
  And we just kept going. And again, you know, I think, I
• 1:33:10
  think our highs at the time was like 1000 views on a, on a show.
• 1:33:15
  And we were like, Yep, we're going to commit everything to
• 1:33:17
  this. Probably wouldn't do that.
• 1:33:20
  Again, if I'm being completely honest.
• 1:33:23
  But it's totally worth it today. Like I just want to give a, a
• 1:33:26
  huge shout out to literally every single person that has
• 1:33:29
  ever clicked on our videos, that ever watched our videos, that's
• 1:33:32
  watched a minute of our videos. Truly from the bottom of my
• 1:33:36
  heart, from the bottom of the simply Bitcoin team.
• 1:33:38
  We love you guys. We appreciate every single one
• 1:33:41
  of you guys and I even appreciate everyone that gives a
• 1:33:44
  shit every single day. I know you guys want us to be
• 1:33:47
  perfect, you want the show to be perfect, you want the memes
• 1:33:49
  back, etcetera, etcetera. Well trust us guys, we are
• 1:33:53
  working on the back end a lot to make this the best show possible
• 1:33:56
  for everyone. Of course, we can't make
• 1:33:58
  everyone happy. But you guys we're.
• 1:34:01
  Doing our best. You guys are going to be, you
• 1:34:03
  guys are going to be very happy. In the next month or so,
• 1:34:08
  there's. Going to be a little bit of.
• 1:34:09
  A. Little bit of a change up.
• 1:34:11
  We got some some things up our sleeve that I think you guys are
• 1:34:14
  going to be. I'm incredibly hyped about.
• 1:34:16
  I saw in the Rumble chat we are incredibly committed to Rumble.
• 1:34:21
  We're. About to, I want to say that
• 1:34:22
  too. I want to.
• 1:34:23
  We're about to break 10,000 subscribers on Rumble.
• 1:34:26
  Again to 100K on Rumble soon. It was, it was very difficult to
• 1:34:29
  just reach the first thousand. So yeah, we're super, super
• 1:34:34
  committed to Rumble. We're gonna we, we post
• 1:34:36
  everything on there that gets posted on YouTube.
• 1:34:39
  So and of course, the audio platforms as well.
• 1:34:41
  The audio platforms are going parabolic, but of course, none
• 1:34:44
  of that. It's like public information.
• 1:34:47
  But but yeah, guys, thank you so much.
• 1:34:50
  That's really the culture today. Another Bitcoin only channel
• 1:34:53
  reaches 100,000. There's only a handful of us,
• 1:34:57
  not even 10. So this is great and thank you.
• 1:35:04
  This is a privilege and an honor to, to, to, to do this for a
• 1:35:08
  living and to do this for you guys.
• 1:35:11
  So really from the bottom. Of my head, are you guys
• 1:35:13
  quitting? No, with this just we just
• 1:35:15
  started that. We just started really, we just
• 1:35:18
  became an official YouTube channel today.
• 1:35:20
  Pretty much so really, from the bottom of my heart, thank you.
• 1:35:24
  Thank you for for for making our dreams come true.
• 1:35:28
  And the best is yet to come, and we hope to not.
• 1:35:30
  Let you guys down. We're going to continue to
• 1:35:33
  strive to make the best Bitcoin content we can to entertain you
• 1:35:36
  guys. And to help you guys through
• 1:35:40
  your Bitcoin journey. So thank you, really appreciate
• 1:35:43
  it. Today is August 18th, 2025.
• 1:35:47
  I'm your host, Nico. It's my legendary code.
• 1:35:50
  Wait, wait, wait, Nico, are you going to rug pull?
• 1:35:51
  Didn't you say you're going to give people?
• 1:35:53
  Sats. We're going to give away SATS.
• 1:35:54
  Dude, I'm. Sorry I'm like getting all
• 1:35:56
  emotional and shit. Dude, this is.
• 1:35:57
  Wait wait, why do you set up Mccaudle?
• 1:35:59
  Mccaudle. This should be our new new
• 1:36:02
  channel model. Simply Bitcoin scamming plebs
• 1:36:05
  into prosperity since 2020. Well, we don't scam anyone here,
• 1:36:10
  I know. That's the point where click
• 1:36:11
  where click. Makes scammers, but if you watch
• 1:36:14
  our shows, you get rich in the process.
• 1:36:16
  Let me rephrase it. We entertain people into
• 1:36:19
  Bitcoin. But I got to write that down
• 1:36:21
  because. It's pretty good.
• 1:36:22
  That's weak dude. Andrew.
• 1:36:25
  Scamming people in the profits, no.
• 1:36:27
  We don't scam anyone. That's why it's funny, dude.
• 1:36:33
  We don't. We don't do that.
• 1:36:34
  We entertain people into Bitcoin.
• 1:36:36
  Are you? You almost you almost rug pulled
• 1:36:38
  them on the stats. So how are you going to do this
• 1:36:41
  is a real question. It's super easy, dude.
• 1:36:44
  You got to head over to bitcoinwell.com because on
• 1:36:47
  bitcoinwell.com. Let's go.
• 1:36:51
  If you go to bitcoinwell.com/simply you get 3
• 1:36:54
  tosses into the Bitcoin wishing well.
• 1:36:57
  And the Bitcoin wishing well, you have an opportunity to win
• 1:37:00
  Sats every single time. So what I'm going to do is I'm
• 1:37:04
  going to do a live demonstration for you guys on the show.
• 1:37:07
  You should. Do a couple, do a couple.
• 1:37:09
  Yeah, it's it. We'll do, we'll do.
• 1:37:11
  We'll do 3 today just to celebrate a very special
• 1:37:13
  occasion. And what you want to do is you
• 1:37:15
  want to get your Lightning wallets ready and first person
• 1:37:18
  to scan the QR code today has won 621 SAT's.
• 1:37:22
  We're going to do it again. We're going to toss another coin
• 1:37:26
  into the wishing well and first person to scan the QR code has
• 1:37:31
  won 620 sats. And we're going to do it one
• 1:37:34
  more time. Toss a coin into the wishing
• 1:37:37
  well and get your Lightning wallets ready.
• 1:37:41
  Person one, 455 sats. So I think it's like one more,
• 1:37:47
  OK, one more, one more by popular requests.
• 1:37:51
  Toss another coin into the wishing well.
• 1:37:55
  And the prize is 691 sats. Again, if you go to
• 1:38:00
  bitcoinwell.com/simply, you use that URL when you sign up.
• 1:38:06
  You get 3 tosses into the Bitcoin wishing well every
• 1:38:10
  single time. You're going to win sats, but
• 1:38:12
  you have an opportunity to win up to 1,000,000 sats.
• 1:38:16
  It's like more than $1000 these days.
• 1:38:19
  Hey Wayne, Nico, before we go, before we go, shout out to Chris
• 1:38:22
  in the chat. The official stats for Simply
• 1:38:25
  Bitcoin up to this day, 4824 videos, 28.6 million views and
• 1:38:31
  now 100K Subs. That's crazy dude.
• 1:38:35
  We almost dropped 5000 videos. That's crazy.
• 1:38:39
  Should I drop a little bit of a soft flex opti a little bit?
• 1:38:43
  I mean, I want to hear the soft flex.
• 1:38:45
  I don't know what it is. 28 million views on YouTube makes
• 1:38:49
  us the second most watched Bitcoin only YouTube channel.
• 1:38:51
  Yeah, OK. Love you all.
• 1:38:57
  We'll be back tomorrow for another episode of Simply
• 1:39:00
  Bitcoin Live. Take care.
• 1:39:02
  Today's episode was brought to you by bitcoinwell.com, a
• 1:39:06
  Bitcoin only platform on a mission to enable financial
• 1:39:09
  independence.