Latest / Simply Bitcoin / How Trump's Bitcoin Plan TERRIFIED The EU & BROKE The Markets! | EP 1200

Transcript

How Trump's Bitcoin Plan TERRIFIED The EU & BROKE The Markets! | EP 1200 · Simply Bitcoin

• 0:00
  Today we're going to be exposing how Trump's battle with Davos is
• 0:04
  crashing the markets and how Bitcoin is an integral part of
• 0:08
  this plan. We know how crazy that sounds,
• 0:11
  but a new article just dropped on Reuters titled EU worries US
• 0:16
  Embrace of crypto assets could impact Europe's financial
• 0:20
  stability. You heard that correctly.
• 0:23
  And just when you thought that was getting interesting,
• 0:25
  Christine Lagarde just held a press conference the other day
• 0:28
  announcing that a CBD C is close and it's even closer than you
• 0:33
  might think. As our fearless leader Nico
• 0:36
  always says on the show, it is Bitcoin or slavery.
• 0:39
  Will America embrace Bitcoin and leave the EU behind with their
• 0:44
  dystopian CBDC project? There's a fork in the road.
• 0:48
  And Who Will Win this face off? Let's dive into it, guys.
• 0:52
  So I'm not alone here. I got our boy Luke Mitchik.
• 0:55
  You guys know Luke might be the most bullish person ever
• 0:59
  anyways, we'll talk with Luke a little later we're going to get
• 1:02
  super bullish towards the end of the show, so you definitely want
• 1:04
  to stick around. I'm going to start this saga
• 1:06
  with a video you've probably seen if you watch this show
• 1:10
  constantly, and this is Christine Lagarde's stance on
• 1:14
  Bitcoin. She has been a huge hater of
• 1:16
  Bitcoin. She doesn't like Bitcoin.
• 1:19
  It's because, as we always say, she understands the game just
• 1:23
  like we do so I'm going to start there.
• 1:24
  If you're new here, you may have never seen this video.
• 1:27
  And then we're going to go through this saga and then we'll
• 1:30
  read this Reuters article. So here we go.
• 1:32
  It's a matter that needs to be agreed at a global level because
• 1:35
  you know, if there is an escape, that escape will be used.
• 1:39
  So I think it needs to be to be if, if anything, it shows that
• 1:44
  global cooperation, multilateral action is absolutely needed,
• 1:47
  whether it's initiated by the G7, moved into the G20 and then
• 1:51
  enlarged. But it's something that needs to
• 1:52
  be to be addressed and and Fat AF is clearly an organization
• 1:57
  that has expanded in that respect.
• 1:59
  Christine Lagarde, why would we need to escape something if it
• 2:02
  was working exactly as designed? If it was good for us, why
• 2:05
  wouldn't we need to escape? Hence why we are Bitcoiners now
• 2:09
  moving forward a little bit, there was an interesting clip we
• 2:12
  covered on the show a couple maybe about a month ago when we
• 2:16
  were talking about that, the Czech National Bank, the head of
• 2:19
  the Czech National Bank, he came out and said, hey, we're going
• 2:22
  to look into Bitcoin. And then slowly but surely
• 2:24
  followed that with a lot of bullish Bitcoin tweets.
• 2:27
  And I'm not going to play this clip because you guys heard on
• 2:29
  the show again, but Christine Lagarde was, quote, very
• 2:33
  confident that Bitcoin will not end up in EU central bank
• 2:37
  reserves. So it's been a long saga of
• 2:40
  Christine Lagarde going out there, parading herself and
• 2:43
  essentially saying, like, I don't like Bitcoin, You should
• 2:46
  stay away from Bitcoin. Obviously, she's afraid of what
• 2:50
  Bitcoin does to her power at the ECB.
• 2:52
  Now, the interesting part, reeling this back into today's
• 2:56
  title. As you probably know, Trump has
• 2:59
  officially signed an executive order for a strategic Bitcoin
• 3:02
  reserve in the United States. And this has been making waves
• 3:06
  all around the world. We've been seeing a lot of new
• 3:08
  conversations happen ever since, you know, Trump got elected and
• 3:11
  was talking about a strategic Bitcoin reserve.
• 3:14
  And now it's official and we get this headline coming from
• 3:17
  Reuters. As I said, the EU worries that
• 3:20
  the US embrace of crypto assets could impact Europe's financial
• 3:24
  stability. Very interesting take it.
• 3:26
  It kind of reminds me of a lot of FUD we've heard in the past
• 3:29
  where hey, if Bitcoin does get proliferated, people do adopt
• 3:32
  Bitcoin, then somehow, some way that's going to make our own
• 3:37
  system less stable. And us bitcoiners are like, what
• 3:42
  does this have to do with us? We're we're literally a parallel
• 3:45
  system to your traditional financial system.
• 3:47
  And yet we're the problem. Nice projection here.
• 3:49
  Anyways, we got into this article Brussels, March 10th
• 3:53
  from Reuters. Eurozone finance ministers are
• 3:56
  worried that the change of policy under the new US
• 3:58
  administration to embrace crypto currencies could affect Eurozone
• 4:02
  monetary sovereignty and financial stability, top
• 4:05
  official said on Monday night. Again, very interesting how we
• 4:09
  are looking for our own sovereignty and yet this is
• 4:12
  going to somehow affect the EU sovereignty.
• 4:15
  Very interesting take here. Anyways, of course, last week,
• 4:19
  Donald Trump vowed to be the crypto president in his
• 4:22
  campaign, signed an executive order to establish a strategic
• 4:25
  reserve by using tokens already owned by the government in a
• 4:29
  policy pivot from the previous administration.
• 4:32
  Now here's where the interesting quotes kind of come in.
• 4:35
  Quote, policy developments in other jurisdictions can have
• 4:38
  important consequences for us here in Europe, The chairman of
• 4:41
  the ministers, Pascal Donahoe, told a news conference after the
• 4:45
  ministers discussed US cryptocurrency developments.
• 4:48
  Again, quote, these discussions are fundamentally linked to our
• 4:51
  own autonomy and to the resilience of our currency, He
• 4:54
  said, adding the creation of a digital euro by the European
• 4:58
  Central Bank was now critical to staying ahead of the curve.
• 5:01
  The ECB has been working on, of course, a digital euro since
• 5:04
  2020. And then it kind of goes into
• 5:07
  ever since the announcement of Facebook's Libra.
• 5:10
  They kind of go into the Libra a little bit.
• 5:12
  But here, another interesting quote is the discussion
• 5:16
  highlighted, what is at stake here is also European
• 5:20
  sovereignty. I'm still, I'm still yet to
• 5:23
  understand how this will affect European sovereignty, but we'll
• 5:26
  discuss this a little bit. Quote, the US administration
• 5:29
  stance on this compared to the past has changed. the US
• 5:32
  administration is favorable towards cryptocurrencies and
• 5:35
  especially dollar denominated stable coins.
• 5:37
  And I think that is the key here, which may raise certain
• 5:40
  concerns in Europe that it could reignite foreign and US tech
• 5:43
  giants plan to launch mass payment solutions based on
• 5:46
  dollar denominated stable coins. Again, very interesting that
• 5:49
  whenever the ECB talks about a digital currency, they only
• 5:53
  always talk about it in this framing of it's for solving the
• 5:57
  problem forms of payments in the modern world when that is not
• 6:01
  what is going on here. But anyways, quote, if this were
• 6:04
  to be successful, it could affect the EUR, the euro eras,
• 6:07
  monetary sovereignty and financial stability.
• 6:10
  Now you know it, it seems like a lot of projection here.
• 6:13
  I, I would say it's a lot of projection, but it does remind
• 6:16
  me of, of the there will be blood quote here.
• 6:19
  You know, if you have a milkshake and I have a milkshake
• 6:22
  and my straw is big enough, it will drink your milkshake.
• 6:25
  Well, it seems like this is what we are, what we're hearing.
• 6:29
  They are afraid of Bitcoin being proliferated because if people
• 6:32
  start to move from the euro to Bitcoin, then obviously their
• 6:36
  financial system will crumble. But it's not about any faults of
• 6:39
  ours. But hey, let's discuss this a
• 6:42
  little later with Luke because we do have the very interesting
• 6:45
  clip of Christine Lagarde's press conference talking about a
• 6:49
  CBC. So let's play that for you guys
• 6:52
  and then Luke and I will discuss this.
• 6:55
  On your second point, I tend to share your views.
• 7:01
  Nature doesn't like vacuum and we started working on on the
• 7:06
  digital Euro way back actually when I started my term 5 1/2
• 7:13
  years ago. And I'm not claiming, you know,
• 7:16
  parental parentality on the digital euro because my
• 7:20
  colleague Benoit Corey had already committed a speech on
• 7:24
  this matter before I arrived. But I certainly carried on with
• 7:29
  that project. And subsequently, Fabio Panetta
• 7:33
  on the board and then Piero Chipolone, who has replaced
• 7:37
  Fabio, have, you know, taken the lead together with a very, very
• 7:42
  good team which is focused on accelerating the pace and
• 7:49
  hopefully campaigning enough with all the stakeholders,
• 7:55
  meaning European Parliament, meaning European Council,
• 8:00
  meaning European Commission, so that we can eventually, you
• 8:05
  know, not put to bed but put to reality this digital euro.
• 8:10
  The deadline for us is going to be October of 25 and we are
• 8:16
  getting ready for that deadline. But we will not be able to move
• 8:20
  unless the other parties, the stakeholders as I call them,
• 8:25
  Commission, Council and Parliament, actually complete
• 8:29
  the legislative process, without which we will not be able to
• 8:32
  move. And I think it is critically
• 8:34
  important and it seems to the agnostic or the sceptics, it
• 8:40
  seems to be more relevant and more of an imperative now than
• 8:45
  ever before, both on the wholesale and on the retail
• 8:49
  level both. You heard that correctly, guys.
• 8:56
  So on the one side, we have the US and say what you want about
• 9:00
  Trump and his crypto stance, but we have the US embracing
• 9:05
  Bitcoin. On the other side, we have the
• 9:07
  EU doubling down on their CBDC and seemingly on the path to
• 9:12
  roll this out by October of this year.
• 9:15
  So what's that about six months give or take.
• 9:19
  And there seems to be a very clear fork in the road as we've
• 9:23
  been talking about and considering look, I, I brought
• 9:26
  up the heat map for you guys. We talked about this yesterday,
• 9:29
  but you can tell markets are struggling right now as we were
• 9:32
  covering yesterday when in response to the strategic
• 9:35
  Bitcoin reserve, everyone in the chat, most everyone on Twitter
• 9:38
  that hasn't really been around, maybe doesn't follow the macro
• 9:41
  landscape too much is wondering, hey, we just got into this
• 9:44
  historic announcement in regards to Bitcoin and yet Bitcoin is
• 9:47
  down. What is going on?
• 9:48
  Well, there's a lot of uncertainty in the markets.
• 9:51
  Like we've been saying, it's around tariffs, the the
• 9:53
  uncertain about Trump's moves moving forward in the economic
• 9:57
  landscape of the US and then of course, announcing the strategic
• 10:01
  Bitcoin reserve. And on the flip side, the EU is
• 10:04
  getting wrecked right now. And so, you know, Trump's been
• 10:07
  hammering this idea that he wants to lower interest rates.
• 10:10
  He's kind of trying to force Powell to lower interest rates
• 10:13
  and, and at the behest of the markets, you know, he's kind of
• 10:16
  tanking them. He's like, hey, it is what it
• 10:18
  is. We're going to tank the markets.
• 10:19
  We're going to implement tariffs.
• 10:21
  I want lower interest rates. And the markets are hurting
• 10:24
  right now. And also on the flip side, we've
• 10:26
  seen this battle between Jay Powell and Christine Lagarde or
• 10:30
  the US Fed and the ECB and, and the European Union.
• 10:34
  The ECB, or as we are kind of framing it as most people know,
• 10:38
  the Davos crowd, they are getting hurt right now.
• 10:41
  They are on the verge of going bankrupt.
• 10:44
  That might be a little hyperbolic, but there is an
• 10:46
  economic war going on right now. And it does have to do with
• 10:51
  dollar hegemony, with the euro, you know, the strength of the
• 10:55
  euro. And of course, now we have a new
• 10:57
  wrinkle, which is implementing Bitcoin to back the US dollar,
• 11:02
  or rather to back stable coins and proliferate stable coins
• 11:05
  around the world. So it is getting very
• 11:07
  interesting out there because for a lot of us, we understand
• 11:11
  Bitcoin, we're super in tune with Bitcoin.
• 11:13
  And yet Bitcoin is a tiny, tiny fraction of global wealth.
• 11:17
  But now it's starting to become very clear that Bitcoin is
• 11:20
  becoming a, a very prominent focal point around the world.
• 11:24
  And if you're not embracing Bitcoin, then you're they're
• 11:26
  going to be left in the dust. And it looks like the EU is
• 11:29
  doubling down on the, the CBDC. They seem to be very anti
• 11:34
  Bitcoin. And I think this is going to
• 11:36
  have detrimental effects for, of course, not only the citizens of
• 11:40
  the EU, but for the people in power.
• 11:42
  And this power struggle will continue to go on.
• 11:45
  And it is very interesting that say what the year 2025, Bitcoin
• 11:49
  has become an integral part of global weaponization or global
• 11:53
  financialization. It's getting crazy out there.
• 11:56
  It's very interesting to see that along.
• 11:59
  You know, a couple years ago Bitcoin was insignificant
• 12:02
  Internet nerd money and now it's becoming the the cornerstone of
• 12:07
  just dominance in the world. And and of course, you guys know
• 12:10
  my stance on stablecoins. I'm not the biggest fan.
• 12:13
  I'm not here for dollar hegemony.
• 12:14
  I want Bitcoin to take over. But there is a very sneaky plan
• 12:18
  of using dollar back stablecoins to get dollars all around the
• 12:22
  world. And it looks like Christine
• 12:24
  Lagarde and the EU is, is catching on to this plan.
• 12:28
  So let's see how this plays out. But very interesting stuff.
• 12:31
  Now, Luke, I'm going to pass it over to you because I know
• 12:34
  you're a little more in tune with the Davos versus the Fed
• 12:38
  crowd here. So from your perspective, from
• 12:41
  your vantage point, what does this headline from Reuters tell
• 12:44
  you? It's massive.
• 12:46
  It's huge. I think it's really interesting.
• 12:48
  Why is Europe feeling like their monetary sovereignty is
• 12:54
  threatened by what Trump does with Bitcoin?
• 12:57
  Why does that make any sense? Why?
• 13:00
  Well, I think it's really interesting if you really zoom
• 13:01
  out and if you have a look at the world in 2020, so five years
• 13:05
  ago, I think why, like a lot of people were a little bit
• 13:08
  concerned that it looked as if the entire world was like
• 13:12
  globally coordinated. And even in 2020, there was a
• 13:15
  lot of talk of the CBDC's being really close and being rolled
• 13:20
  out. And even 2021, if you go back
• 13:22
  and have a look at the headlines, it was horrifying.
• 13:25
  It was scary living in Australia, being locked inside
• 13:27
  prison islands and the entire world looked coordinated.
• 13:31
  The entire world looked like they wanted to create this CBDC
• 13:36
  dystopian Orwellian control mechanism.
• 13:39
  This is kind of what it looked like in Australia.
• 13:41
  They were installing 5G facial recognition technology during
• 13:47
  the lockdowns. And there were lots of, you
• 13:48
  know, accelerants and developments in technology that
• 13:52
  made the world look like a very scary place.
• 13:55
  But I bring up all of that framing and all of that context
• 13:57
  because in particular, over the past two to three years, we've
• 14:00
  seen the world really bifurcate. We've seen the bricks say, yeah,
• 14:05
  you know what? We're actually not a fan of what
• 14:07
  the West is doing with, you know, this U.S. dollar control
• 14:11
  system that they weaponized. OK.
• 14:13
  I think 2020 was a big kind of highlighting factor, the event
• 14:18
  of Russia's hundreds of billions of dollars of U.S.
• 14:22
  Treasuries being frozen. The world said, whoa, hang on a
• 14:25
  minute, what are we doing holding U.S. dollars?
• 14:28
  And since then, we've just seen this continual fracturing of the
• 14:31
  global economic system and more and more countries going their
• 14:35
  own way. Countries all around the world
• 14:37
  are repatriating gold. Some countries are saying, look,
• 14:40
  we want to pursue CBDC's. Other countries are saying we're
• 14:43
  going to outlaw CBDC's. So this this is kind of like the
• 14:47
  context that needs to be considered because I'm going to
• 14:50
  probably trigger some people here in a moment, but some
• 14:53
  people assume that the entire W is in bed and in cahoots with
• 14:56
  each other. Again, we all call Europe our
• 15:00
  allies. America and the G7 nations are
• 15:03
  supposed to be this globally coordinated union.
• 15:07
  So to say that align on monetary policy, that align on
• 15:12
  regulations, that align on what Christine Lagarde said in that
• 15:16
  earlier clip closing the escape valves, they used to align on
• 15:21
  all of these things. And in that clip Opti play for
• 15:24
  you guys, Christine said we need to come to some sort of global
• 15:29
  cooperation and global agreement.
• 15:31
  OK, this is no longer on the table by the looks of things.
• 15:35
  So this kind of it gets into the hyper thought experiment macro
• 15:40
  thinkers in the space have kind of made popular.
• 15:43
  Tom Longo was the first one I heard talking about this thesis.
• 15:46
  But he said when America started aggressively raising interest
• 15:50
  rates in 2021 and 2022, the country this hurt the most was
• 15:55
  Europe and it was Davos. And again, if you just look at
• 15:58
  the chart of the US dollar against the euro since Fed, the
• 16:04
  Fed, Jerome Power started aggressively raising interest
• 16:06
  rates back in 2021 and 2022, literally days after he had a
• 16:12
  very big disagreement with Christine Lagarde at this global
• 16:17
  climate change conference. Christine Lagarde said yes, the
• 16:21
  world needs to engage in loose monetary policy.
• 16:24
  We all need to print money and we all need to devalue our
• 16:29
  currencies for climate change, for the woke agenda.
• 16:33
  This is what Christine Lagarde said and Jerome Power, the same
• 16:37
  conference, said, yeah, you know what?
• 16:39
  No, I don't believe in climate change.
• 16:41
  He didn't actually say that. I'm paraphrasing, But he said as
• 16:45
  a central bank, our role is actually only our dual mandate
• 16:49
  price stability and full employment.
• 16:53
  And Christine Lagarde and Powell had a little bit of a back and
• 16:55
  forward. Days later, Powell aggressively
• 16:58
  begins raising interest rates by manipulating the interest rates
• 17:01
  on the reverse repo windows. And this drained capital out of
• 17:05
  Europe and into the reverse repo window in America.
• 17:09
  Again, I don't want to get too technical, too granular, but I
• 17:13
  think there have been signs, especially over the past two to
• 17:15
  three years, that maybe America and Europe now, the reason why
• 17:19
  we're saying Davos is because Davos is centered in Europe, but
• 17:22
  maybe America and Davos are not as aligned as many people think
• 17:27
  they are. That's the thought experiment.
• 17:29
  And that's why the headline that we saw fly across off these
• 17:32
  desks this morning was all the more interesting because it kind
• 17:35
  of says the quiet parts out loud.
• 17:37
  Europe's monetary sovereignty is threatened by Trump embracing
• 17:43
  Bitcoin. I mean, Trump embracing Bitcoin
• 17:46
  thousands of miles away shouldn't offend Europe's
• 17:50
  monetary sovereignty unless Europe had a plan, unless
• 17:55
  Europe's plan didn't include Bitcoin, unless Europe wanted
• 18:02
  the entire world to close the escape valves and not adopt
• 18:06
  Bitcoin. I think that's why we think the
• 18:09
  the news that we saw this morning is so interesting.
• 18:10
  And this is just really the beginning of the rabbit hole
• 18:13
  because we haven't even talked about Trump, his tariffs and
• 18:18
  there's a little bit of a war that we might be seeing going on
• 18:20
  between Trump and Jerome Powell and the Federal Reserve before
• 18:25
  we get there off the. I think it's worth maybe slowing
• 18:28
  down just a little bit and just kind of talking about what
• 18:31
  exactly is happening with, you know, Trump and Christine
• 18:37
  Lagarde. I mean, that's that's a rabbit
• 18:39
  hole that I just think is absolutely fascinating.
• 18:41
  I think it's a rabbit hole that not a lot of people have really
• 18:43
  thought about. And when we see headlines like
• 18:47
  these, we like to try to connect the dots, so to say Opti and,
• 18:52
  you know, show the people what they could be missing.
• 18:54
  Yeah, 100%. It is very interesting, and I
• 18:57
  think a main point that you hit on that so few people really
• 19:01
  grasp, and I also heard it first from Tom Luongo, is this idea
• 19:05
  that, you know, a lot of people think that all the elites are in
• 19:08
  bed together. You know, they're at some cabal,
• 19:11
  you know, some secret meeting where they're planning to take
• 19:14
  over the world, etcetera. But these elites are not
• 19:18
  necessarily in bed with each other.
• 19:20
  Yes, they may be friendly, but we're starting to see very
• 19:23
  clearly that there is a war between America and the US
• 19:26
  financially right now. Yes, it's not a kinetic war, but
• 19:30
  we are seeing a battle between the Fed and the ECB.
• 19:34
  And at first, when when Biden was in office, it was Jay Powell
• 19:39
  in control, essentially trying to drain liquidity and capital
• 19:42
  from the wow, I'm blanking on it the the offshore dollar
• 19:47
  creation. What's it called again?
• 19:48
  Luke? I'm I'm blanking on a.
• 19:50
  Euro dollar market, yes. The euro dollar market.
• 19:52
  Wow, what a brain fart. And now we're seeing that since
• 19:56
  Trump got in, there's a new wrinkle here Trump is trying to
• 19:59
  force. Powell into, you know, a
• 20:03
  submissive position and yet still kind of drain capital and
• 20:07
  the euro dollar offshore system from the ECB.
• 20:10
  So things are getting very interesting and now this embrace
• 20:13
  of Bitcoin is a total new wrinkle because we're seeing,
• 20:16
  hey, if the US is going to embrace Bitcoin as we say it all
• 20:19
  the time, yes, we know it's the US government stacking Bitcoin.
• 20:22
  Not not the not the best thing. If you are a very anti
• 20:25
  government guy and you're wondering how is this a
• 20:28
  separation of money and state? And yet on the other side, on
• 20:31
  the other side of the Atlantic, they are embracing CBD CS.
• 20:35
  So I know which side I would bet my money on.
• 20:38
  Obviously the one that is betting on Bitcoin, but you're
• 20:42
  starting to see that as the US embraces Bitcoin, the EU is
• 20:46
  doubling down on a CBC, which is not looking good for people in
• 20:51
  the EU. It's it's definitely a, a huge
• 20:54
  concern that we're seeing right now on that other side of the
• 20:56
  pond. So absolutely insane things
• 20:59
  going on and, and I know, I know, I know we like to stink
• 21:03
  and say like Bitcoin's still tiny and that a lot of people
• 21:06
  are naive about Bitcoin. But I think we've gotten to a
• 21:09
  point now where it's becoming very clear that the people in
• 21:12
  power, I won't call them our elites here, but the people that
• 21:15
  have these positions of power fundamentally understand what's
• 21:19
  going on with Bitcoin, or rather fundamentally understand the
• 21:22
  implications of what Bitcoin will do when it does take over.
• 21:26
  And we see it that it's happening in real time.
• 21:28
  I know, I know we don't like to say it, but this is where we are
• 21:32
  winning. And of course, we're going to
• 21:33
  see the fight kind of fall, fall on our front doorstep.
• 21:37
  So very interesting stuff. Luke, you want to chime in a
• 21:39
  little more before we start to pivot?
• 21:42
  Absolutely. And I think kind of keep an eye
• 21:44
  on what is going on in Europe's a really interesting one because
• 21:47
  when countries try to get out of what looks to be a dystopian
• 21:52
  Orwellian plan being created by the ECB for the entire euro
• 21:56
  region, we saw what happened. We covered it for you guys on
• 21:59
  Simply Bitcoin. Recently, a central banker from
• 22:02
  the Czech Republic said, yeah, we want to buy billions of
• 22:05
  dollars of Bitcoin. We want to investigate Bitcoin
• 22:07
  as a strategic reserve asset for our country.
• 22:11
  What happened Literally days later, there's a video coming
• 22:15
  out of Christine Lagarde that went public where she said, you
• 22:18
  know what, I'm pretty certain that my colleague in the Czech
• 22:22
  Republic, they won't adopt Bitcoin.
• 22:24
  I'm pretty certain of it. She was very confident, very
• 22:28
  cocky in that interview. And essentially, you guys can
• 22:31
  see what's going on as soon as one country tries to escape this
• 22:36
  what looks to be global initiative or global plan by
• 22:40
  some, There are some people in Europe who want to control the
• 22:43
  world. Again, nobody does control the
• 22:45
  world because human action countries are going to do their
• 22:48
  own thing and go their own way. They're going to act in their
• 22:51
  own best interests. But those countries that do try
• 22:54
  to escape, you can see what happened to them.
• 22:57
  The Czech Republic, we haven't heard any news out about them
• 23:00
  since Christine Lagarde's very confident interview, saying
• 23:03
  she's very confident and her colleague in the Czech Republic
• 23:06
  central bank ranks will not be adopting Bitcoin as a reserve
• 23:10
  asset. And even more recently, we also
• 23:12
  cover the news of the IMF coming after El Salvador, the first
• 23:17
  Bitcoin country. They were attacked.
• 23:19
  I think I saw a tweet from our fearless leader Nico this week
• 23:22
  saying that there are 92 other countries with debt deals with
• 23:27
  the IMF. Everybody wonders why have we
• 23:30
  not seen more El Salvadors, more Bitcoin countries, more Bitcoin
• 23:35
  legal tender laws? Well, maybe it's because of the
• 23:37
  attacks coming from IMF. Even publicly, the attacks are
• 23:42
  pretty ferocious, pretty damaging.
• 23:45
  Again, the media smearing, it's taken to the next level.
• 23:49
  In the case of El Salvador in particular, just imagine what's
• 23:52
  going on behind closed doors. I think the attacks would be
• 23:57
  even more savage. I don't want to get into
• 24:00
  conspiracy theories here, but I, I do think that, you know, just
• 24:05
  the, the pressure that these countries do feel when they try
• 24:08
  to opt out. I think it's a lot of pressure.
• 24:11
  Yeah, without a doubt. And I think they are feeling the
• 24:13
  pressure in real time. Obviously as Bitcoiners, we're
• 24:16
  kind of on the sideline. We're like, look, we're
• 24:18
  literally like waiting, you know, at the bus stop reading a
• 24:21
  book and like when, when is the bus going to show up?
• 24:24
  When are people going to start to understand that they need to
• 24:27
  hold Bitcoin and and everyone else is like, wait, I'm
• 24:31
  literally on the sinking Titanic.
• 24:33
  I need to make a move and hey, one Rd's going Bitcoin and one
• 24:37
  Rd's going CBDC and obviously as a Bitcoiner, we know where that
• 24:41
  road leads. So we are bitcoiners.
• 24:43
  Anyways, guys, we got a jam packed show for you guys.
• 24:46
  We do have a clip of Sailor this morning at BPII.
• 24:49
  Highly suggest you watch the whole thing.
• 24:51
  But I just got a little bit of it talking about how much
• 24:54
  Bitcoin the US government needs to stack to get out of debt.
• 24:58
  Yes, you heard that correctly. How much Bitcoin does the US
• 25:01
  need to stack to get out of debt?
• 25:03
  And then in the news, we have a couple of interesting stories
• 25:07
  coming around. Banks, international banks
• 25:09
  starting to embrace Bitcoin again.
• 25:11
  There is no coincidence here. Ever since the US announced a
• 25:15
  strategic Bitcoin reserve, everyone has to follow suit.
• 25:18
  They're either having to get their banks to allow in custody
• 25:22
  and serve Bitcoin products or they're going to CBDC route like
• 25:26
  the EU. Interesting stuff going on.
• 25:28
  Of course, wrap it up guys. You're going to want to stay
• 25:31
  because we have literally the most bullish person ever on all
• 25:34
  Bitcoin content out there named Luke Mikic and I'm literally
• 25:39
  just going to team up. So the end of the show is going
• 25:40
  to be stupidly bullish. If you are kind of listening to
• 25:43
  this news, like man, this is kind of some doomer stuff.
• 25:46
  Make sure you stay towards the end because it's going to get
• 25:48
  incredibly bullish. But before I move on, guys, make
• 25:51
  sure you smash that like button. Get this signal out to more
• 25:55
  people. Let's get to 200 likes in the
• 25:57
  next. Let's do the next 20 minutes.
• 25:59
  Every single one of you guys smash that like button so more
• 26:02
  people can hear the signal. On that note, guys, of course,
• 26:05
  make sure you check out Bitcoin. Well, Sign up today and you get
• 26:10
  three chances to win 1,000,000 sets.
• 26:13
  We love the boys over at Bitcoin.
• 26:15
  Well, actually the reason Nico's not here.
• 26:17
  So I'm pretty sure he's hanging out with the CEO Adam today and
• 26:20
  you know, he left me to do The Dirty business.
• 26:22
  But anyway, Bitcoin Wow is the best place to buy your Bitcoin.
• 26:26
  It is self custody by default. What's that mean?
• 26:28
  It means you literally need a Bitcoin wallet to buy Bitcoin on
• 26:32
  their platform. They never hold your Bitcoin.
• 26:35
  There is never a chance of them to FTX you or rug pull you
• 26:39
  because they never hold your Bitcoin.
• 26:42
  Now, if you're on the sidelines, guys, maybe you're, you know,
• 26:45
  daddy fat stacks out there and you have Fiat on the sidelines
• 26:48
  and it's starting to click and you're like, man, the US
• 26:51
  government just going into Bitcoin.
• 26:53
  I'm saying the EU fight Bitcoin. Maybe I need to smash by a lot
• 26:57
  of Bitcoin today. Well, get in touch with the
• 27:00
  Bitcoin Well Infinite team and it's their OTC desk.
• 27:04
  You can buy $50,000 or more of Bitcoin at a single time.
• 27:08
  This is for you guys sitting on the sidelines and trying to get
• 27:11
  a very good position today. Get in touch with the Bitcoin
• 27:15
  Well Infinite team. On that note, guys, let's get
• 27:18
  into the rest of the show. I want to tell you guys about
• 27:28
  our sponsor Stamp Seed. Is your Bitcoin and cold storage
• 27:33
  really secure? Are your seed words really
• 27:36
  secure? Stamp Seeds Do it
• 27:52
  You want to literally stamp your seed into this plate of
• 27:56
  titanium. Your words are actually stamped
• 27:58
  into the metal plate with this hammer, so once your words are
• 28:02
  in, they aren't going anywhere. No risk of the plate breaking
• 28:06
  apart and your pieces falling everywhere.
• 28:09
  Titanium stamp seeds will survive nearly triple the heat
• 28:13
  produced by a house fire. They are also crush proof,
• 28:16
  waterproof, non corrosive and most importantly, because this
• 28:20
  is generational wealth time proof, all things that paper is
• 28:26
  not allowing you to huddle your Bitcoin for the long haul.
• 28:30
  I mean, here is the plate that they crushed, they put in water,
• 28:35
  they put a blowtorch to it. And as you can see, the words
• 28:39
  have survived. Stamp your seed on stamp seed
• 28:43
  and you can use promo code simply to get 15% off anything
• 28:47
  on their store. Head over to stampse-ed.com
• 28:50
  today. All right guys, of course, scan
• 28:56
  the QR code and use the promo code simply to get 15% off your
• 29:01
  stamp seed kit. Do not leave your seed phrase in
• 29:04
  a piece of paper on your sock drawer.
• 29:07
  Anyways, we are over on Cork Moody's dashboard running
• 29:09
  through the numbers, of course, the Bitcoin price currently is
• 29:12
  $81,240. Man, it's so over.
• 29:16
  It was a good run boys, right? Sats for dollar, AKA how much
• 29:19
  Bitcoin you can buy for a single dollar, AKA how much the dollar
• 29:22
  is worth in Bitcoin is currently at 1231 sats per dollar.
• 29:28
  Or you know, just to stir up some controversy since I haven't
• 29:30
  heard it in a minute. 123 bits per dollar.
• 29:34
  OK, the block height is 887,331. And the market cap, wow.
• 29:40
  The market cap currently is $1.61 trillion in Fiat terms.
• 29:45
  The Bitcoin versus gold market cap is currently at 7.94%, and
• 29:49
  the total percentage of Bitcoin that will ever be issued is
• 29:51
  currently at 94.45%, roughly 19.83 million Bitcoin in
• 29:58
  circulation. And the realized monetary
• 30:00
  inflation taking Fiat currencies of school is .94%.
• 30:04
  Literally the strongest money in the world.
• 30:07
  All right guys, so as I was telling you guys this morning,
• 30:10
  the BPI Bitcoin Policy Institute is throwing a conference
• 30:13
  currently. They're having a lot of policy
• 30:15
  politicians, a lot of bitcoiners come in, talk about Bitcoin,
• 30:18
  talk about the importance of Bitcoin for America.
• 30:21
  And there was a great speech by Michael Saylor.
• 30:24
  I highly suggest you guys go watch the whole thing.
• 30:26
  I'm sure you can find it on Twitter or on their BPI YouTube.
• 30:31
  He kind of killed it. I was like in this morning
• 30:33
  waking up and my boy Nolan was playing it and I was like, man,
• 30:38
  I haven't heard a sailor speech in a while.
• 30:40
  Where I was like, wow, he's kind of spitting bars at first.
• 30:43
  I'm like, is this an old one or is this a new one?
• 30:46
  And he announced it. It's like it's today.
• 30:49
  So anyways, he is using his Bitcoin 2045 model here to kind
• 30:58
  of explain how the US can acquire Bitcoin and using the
• 31:02
  base or the single maxi, double maxi, triple maxi strategy.
• 31:08
  And the numbers are absolutely nuts.
• 31:11
  So I'm going to just play it for you guys.
• 31:13
  We'll watch it and then we'll respond.
• 31:15
  And even though you might think it's unfeasible if the US does
• 31:19
  go full triple maxi, actually, I think they I think he added a
• 31:22
  new category here and it was like nation state superpower
• 31:26
  maxi or something like that. They can potentially almost pay
• 31:31
  off all of their unfunded liabilities by stacking Bitcoin.
• 31:34
  So it it's just it was a master class this morning.
• 31:37
  Anyways, check it out guys. US pursue a Bitcoin strategy.
• 31:41
  Well, Senator Lummus has has given us a clear guideline with
• 31:44
  the Bitcoin Act in Nashville in July and what the Bitcoin Act
• 31:48
  said, it said let's acquire a million Bitcoin over A5 year
• 31:51
  period in a programmatic disciplined fashion, transparent
• 31:55
  to all. And so let's consider the
• 31:58
  consequences of of this strategy.
• 32:01
  Well, first of all, last week the president signed the
• 32:03
  Strategic Bitcoin Reserve Act or order.
• 32:07
  If we hold that 200,000 Bitcoin for the next 20 years, even
• 32:12
  though you see a flat line on the screen, the flat line is
• 32:14
  worth $3 trillion. So that's the value of doing
• 32:17
  nothing. Sometimes people think that you
• 32:18
  have to do something to make money.
• 32:20
  Sometimes the absence of doing awful and stupid things is
• 32:23
  making money. Doing stuff is highly overrated.
• 32:26
  If the stuff is trading or selling your Bitcoin, the Lummus
• 32:31
  bill would acquire a a million Bitcoin or a 1.2 million
• 32:34
  Bitcoin. If you look at the consequences
• 32:36
  of that over the time frame, it it's worth $16 trillion to the
• 32:40
  nation. If you get a bit more aggressive
• 32:43
  and we go. To two point.
• 32:44
  Another million, $34 trillion to the nation.
• 32:49
  In this case, there's a bit of reflexivity.
• 32:51
  If the United States starts to a more aggressively stockpile
• 32:54
  Bitcoin, it's going to accelerate the growth of the
• 32:56
  network. It's going to accelerate capital
• 32:58
  flowing in the network. It's going to increase and
• 33:00
  expand the overall digital capital network.
• 33:03
  If we move to a triple Max strategy, you start to, you'll
• 33:06
  end up with 4 million Bitcoin that's worth $73 trillion to
• 33:10
  America. And of course, President Trump
• 33:13
  has laid out a guideline. We should be the superpower.
• 33:16
  If you want a superpower strategy, here's a superpower
• 33:18
  strategy. Acquire Bitcoin consistently.
• 33:21
  By the way, over what time frame?
• 33:23
  Consistently daily between now and the point 99.99 is January
• 33:27
  of the year 2035, the point at which 99% of the Bitcoin supply
• 33:32
  has been mined. The asset becomes effectively
• 33:34
  capped for all practical purposes, because the last 1%
• 33:37
  comes out over 100 years, .99 between now and then is that
• 33:41
  you've got 10 years for the digital gold rush.
• 33:44
  You should get your Bitcoin before there's no more Bitcoin
• 33:46
  for you. And you can see here in this
• 33:48
  strategy, we acquire it consistently.
• 33:50
  And then we use surpluses from the US government to continue to
• 33:54
  save in Bitcoin is worth $106 trillion to the United States.
• 33:58
  And So what does that look like? Well, the Lummus plan, which is
• 34:03
  grand, is modest in some ways. And a modest strategic Bitcoin
• 34:08
  reserve plan neutralizes the national debt.
• 34:11
  Sometimes doing modest things are actually brilliant as long
• 34:13
  as you do the thing. It's like the people that bought
• 34:16
  just a little bit of Bitcoin in 2012, It was a modest
• 34:19
  investment. It made them billionaires.
• 34:21
  A modest thing 20 years in advance is a brilliant thing if
• 34:25
  you're more aggressive. The triple Max plan negates the
• 34:29
  national debt. The superpower plan creates a
• 34:33
  global superpower. Absolutely nuts.
• 34:38
  OK, first of all, though, interesting where he's saying,
• 34:42
  you know, a modest $1 million buy.
• 34:47
  I think sailors numbers are just like since he buys so much, he's
• 34:51
  like, you know, a million, a million Bitcoin is kind of a
• 34:53
  modest buy here. It's like if the US wants to
• 34:56
  maintain superpower position, they have to buy 5.5 million
• 34:59
  Bitcoin. Like what is this chump change
• 35:01
  is buying a million Bitcoin? I I thought that was just funny
• 35:05
  that that's just kind of hilarious just because Sailor
• 35:07
  buys so much. But there is an interesting
• 35:09
  point here. First of all, for you guys out
• 35:11
  there, I really like that that message of just doing something
• 35:14
  modest consistently overtime obviously improves your life.
• 35:19
  And that's where, you know, he was talking modest buy Bitcoin
• 35:22
  in 2012. Well, you know, a lot of us
• 35:25
  weren't in Bitcoin in 2012. I, I was what, 2012 I was like
• 35:29
  out of college. I was just getting out of
• 35:31
  college. Of course, I, I didn't even
• 35:33
  think about Bitcoin. But for us, a modest, a modest
• 35:36
  accumulation of Bitcoin or ADCA plan where you just buy Bitcoin
• 35:40
  consistently every week or every two weeks or whenever you get
• 35:43
  paid. That can fundamentally change
• 35:45
  your life. And this is what I think Saylor
• 35:47
  was saying, obviously on a nation state level.
• 35:50
  And I love how he added this superpower category.
• 35:53
  Now it's not just a single maxi, double maxi, triple maxi's.
• 35:57
  Like, no, we're going to, we're going to add a superpower maxi
• 36:00
  strategy here. And what does that entail?
• 36:02
  Which would be insane. I don't think anyone has come
• 36:05
  close to this, though. We are seeing that Lummus is
• 36:09
  trying to reintroduce her strategic or sorry Bitcoin Save
• 36:13
  Act to acquire a bunch of Bitcoin.
• 36:15
  But there was one interesting point there and he called it the
• 36:19
  next 10 years as essentially the digital Bitcoin gold rush.
• 36:23
  And what he essentially laid out there that in 10 years, 99% of
• 36:28
  all the Bitcoin that will ever be created is going to be
• 36:32
  released into the world. And so you have essentially the
• 36:35
  next 10 years. Yes, you're not the US, yes,
• 36:38
  you're not Sailor with strategy MicroStrategy to acquire a bunch
• 36:42
  of Bitcoin. Yes, you might not be able to
• 36:45
  get incredible loan rates so you can stack as much Bitcoin as
• 36:49
  possible. But I think it's very important
• 36:52
  to continue to focus on this idea that this isn't, this isn't
• 36:56
  just a Sprint, this is a marathon Here you have the next
• 36:58
  10 years to build well, and the way to build wealth is obviously
• 37:03
  to acquire as much Bitcoin as possible to get your cash flows
• 37:07
  in, to save in Bitcoin. This next 10 years.
• 37:10
  I am with Sailor when he says it's going to fundamentally
• 37:13
  shift how we view the world. I think this next 10 years is
• 37:16
  going to be one of the most important era for all of us, not
• 37:19
  only personally, but on a societal level.
• 37:21
  The next 10 years I think is going to be some of the most
• 37:24
  important times for the world because we are transitioning
• 37:27
  from a dinosaur financial system into a modern age financial
• 37:32
  system built on top of Bitcoin and sailors out here literally
• 37:35
  trying to persuade politicians to try to get Trump to
• 37:39
  understand what is going on. I'm not sure who's listening to
• 37:42
  this. Maybe it's just like Trump aids
• 37:43
  out there listening to this. But this, this master class, he,
• 37:48
  he, he explained this morning, it was, it was a next level
• 37:51
  sailor speech. I, I've kind of tuned out some
• 37:53
  sailor speeches recently because it seemed like he's been kind of
• 37:56
  saying very similar things. But from what I heard this
• 37:59
  morning, I was like, wait, I haven't heard this said in this
• 38:03
  way ever. This is like a new, a new
• 38:06
  sailor. It's like Pokémon, he has
• 38:07
  evolved here. He's evolved his message to a
• 38:09
  whole new audience. And it is getting very
• 38:12
  interesting because as we covered in the beginning, we're
• 38:16
  seeing that the nation state global game theory, the nation
• 38:19
  state FOMO is kicking in. Bitcoin has fundamentally phase
• 38:23
  shift into a new era. And if you are still thinking in
• 38:27
  old paradigm terms of Bitcoin and you're not doubling down on
• 38:31
  your Bitcoin stacks right now and you're not kind of thinking
• 38:33
  about how how can I save as much Bitcoin as possible?
• 38:37
  Do not lose the opportunity of the next 10 years.
• 38:39
  This digital gold rush is upon us.
• 38:41
  I think the next 10 years is going to be super crazy for
• 38:43
  Bitcoin and of course for you guys personally, but man, Sailor
• 38:46
  really killed it this morning. And this superpower category,
• 38:49
  whole new category here, you can tell he's he's, he's really
• 38:54
  angled his pitch to Trump's ego here and being like, how do you
• 38:57
  want to go down as the best president ever?
• 39:00
  Well, follow my superpower strategy.
• 39:03
  Yeah, someone says you got to catch them all.
• 39:05
  You know, personally, on a on another level, it does make me
• 39:08
  feel a little weird. I'm not, I'm not the biggest fan
• 39:11
  of the US holding 5.5 million Bitcoin.
• 39:15
  I'm, I'm not. You know, as much as I love
• 39:16
  America and I, I want America to remain the superpower that it
• 39:21
  is, I'm also a Bitcoiner and I understand that the Fiat money
• 39:25
  system that we find ourselves in is the root cause of a lot of
• 39:29
  the problems in the world. And so there wasn't also an
• 39:33
  interesting speech followed by Saylor, which was the VAC.
• 39:36
  And he was talking about essentially, you know, monetary
• 39:39
  austerity and how with Bitcoin, governments will be put into
• 39:44
  check and they will have to have discipline with their spending.
• 39:48
  So there's a lot of things going on right now, and I think a lot
• 39:51
  of new people are being exposed to Bitcoin in ways that they've
• 39:54
  never heard before. So it's going to be very
• 39:56
  interesting to see how all of this plays out.
• 39:57
  I'm sure the rest of this year is going to be a very, very
• 40:00
  interesting time to be a Bitcoiner.
• 40:02
  Anyways, Luke, what is your thoughts on that Sailor clip?
• 40:06
  Or rather, did you see the whole clip, the whole presentation
• 40:09
  this morning, or did you just catch this clip?
• 40:15
  I haven't caught it yet, but I think it's just another big sign
• 40:20
  that the world is sleeping on Bitcoin.
• 40:22
  I love this 10 year digital gold rush framework.
• 40:26
  I really like it because I think it kind of says the quiet parts
• 40:28
  out loud. Sailors essentially saying it's
• 40:31
  all over in 10 years. In 10 years, 99% of all the
• 40:34
  bitcoins going to be mined and he's going to continue buying
• 40:39
  Bitcoin hand over fist. Right now he holds nearly half a
• 40:43
  million coins himself, which is crazy when you think about it.
• 40:47
  There is literally 2 and a half million Bitcoin sitting on
• 40:50
  exchanges. 1 billionaire holds half a million coins.
• 40:55
  There's like 3000 billionaires, there's 58,000 public companies,
• 41:00
  there's 60 million millionaires and one guy holds 20% of all of
• 41:06
  the available bitcoins sitting on exchanges.
• 41:09
  And he's telling you, he said this is the digital gold rush.
• 41:13
  Everybody is rushing to get their hands on Bitcoin.
• 41:16
  And again, I've copped a lot of Flack for many years now.
• 41:18
  I've, I've, I've been saying this since 2020.
• 41:21
  I'm dying on this hill by 20-30. I think it's all over.
• 41:24
  I think a lot of people don't understand exponential.
• 41:26
  Change wait, wait, wait wait. Wait wait wait are in these
• 41:28
  early? Stages.
• 41:30
  Roll that back by 20-30. What is over?
• 41:36
  It's finished. The Fiat money is finished.
• 41:39
  This is your take. It's done.
• 41:42
  It's I, I think by 20-30 you're looking at more than 30% of the
• 41:49
  world's wealth stored in Bitcoin.
• 41:51
  And I think the, the real way to visualize this is Bitcoin
• 41:55
  adoption is going to be very difficult to track.
• 41:58
  Yes, the masses, the retail normies, it's going to be
• 42:02
  decades before they're using Bitcoin to buy coffees at
• 42:05
  supermarkets. I think that adoption Bitcoin,
• 42:08
  the medium of exchange, S curve or adoption curve, that is going
• 42:12
  to take some time, but these people don't drive technological
• 42:16
  revolutions. Those who Dr. technological
• 42:19
  revolutions are the billionaires, the nation states,
• 42:22
  the early innovators who recognize the technology's
• 42:26
  importance. And again, there's a really cool
• 42:28
  chart. I've been screaming about this
• 42:30
  chart for four years now, and it shows the adoption rates or the
• 42:34
  S curve adoption rates of internets such as the
• 42:38
  automobile, the Internet, and the smartphone from memory.
• 42:44
  And on average, those three technologies took them 10 years
• 42:47
  to go from zero to 10% adoption. And then it took them the same
• 42:51
  amount of time, another 10 years to go from 10% adoption to 90%
• 42:56
  adoption. OK.
• 42:57
  I think the first eleven years of Bitcoin's life, it's kind of
• 43:00
  similar. The 1st 11 years of Bitcoin's
• 43:02
  life, nobody cared about Bitcoin.
• 43:04
  None of the billionaires, none of the nation states, none of
• 43:08
  the pension funds, none of the corporations, none of the
• 43:12
  millionaires. None of these guys were actually
• 43:14
  interested in buying Bitcoin. There was no nation state legal
• 43:18
  tender. There were no BlackRock and
• 43:21
  Larry Finks putting Bitcoin into their model portfolios like the
• 43:25
  largest asset manager in the world right now he's doing.
• 43:28
  We saw none of this pre 2020 and I think that was kind of there
• 43:33
  was a signal that pre 2020 Bitcoin was in a different era.
• 43:37
  99.9% of the trading volume was dominated by retail speculators.
• 43:42
  Post 2020, I think a large majority, over 90% of the
• 43:46
  trading volume is now being dominated by the 15,000 hedge
• 43:51
  funds, the $50 trillion being managed by the asset managers
• 43:55
  around the world, by nation states, OK, pension funds,
• 44:00
  corporations, billionaires, These guys are dominating the
• 44:04
  Bitcoin trading. And I just believe we've seen a
• 44:07
  fundamental shift post 2020. And I mean sailors screaming
• 44:11
  from the rooftops, 10 year digital gold rush.
• 44:14
  You've got 10 years left. He says the gold rush began in
• 44:17
  2024 and it's going to go until 2034.
• 44:20
  I think the gold rush actually began in 2020.
• 44:23
  And this aligns with my favorite chart in the entire Bitcoin
• 44:26
  space. And that is the number of
• 44:27
  Bitcoin on exchanges. For the first eleven years of
• 44:30
  Bitcoin's life, this number only grew.
• 44:32
  People didn't understand Bitcoin.
• 44:33
  They only sold Bitcoin. They sent Bitcoin to exchanges.
• 44:37
  This number peaked out at 3.1 million.
• 44:39
  And right now we've been living through five years of a
• 44:42
  continual supply suffocation. Right now, there's somewhere
• 44:47
  around 2 to 2 and a half million bitcoins sitting on exchanges.
• 44:50
  Enough Bitcoin for four or five Michael Saylors to come along
• 44:54
  and say, yeah, you know what? That Bitcoin thing, give me
• 44:58
  some, give me half a million coins.
• 45:01
  And I, I think, I think by 20-30, like that's what I mean.
• 45:04
  Optia, I think by 20-30, it's all over.
• 45:07
  I think by 20-30, the majority of I, I think all of those
• 45:11
  Bitcoin on exchanges are in the hands of entities who aren't
• 45:14
  going to be selling for 10 years.
• 45:16
  Again, I'm not being super bullish here.
• 45:18
  Sailor's not going to sell for 100 years.
• 45:21
  And I tend to believe that even nation puts Bitcoin in a
• 45:24
  strategic reserve. You really think they're going
• 45:27
  to be trading that thing cycle to cycle?
• 45:29
  Who knows, maybe. But I think it's a good
• 45:32
  probability that any Bitcoin that goes into a strategic
• 45:35
  reserve that's going to be locked up for 100 years, like
• 45:39
  Michael Saylor's Bitcoin, like the 500,000 Bitcoin sailors
• 45:44
  accumulated. So I just think by 20, thirty,
• 45:48
  98.5% of all of the Bitcoin would have been mined.
• 45:53
  And we're just in a different realm where Bitcoin's being held
• 45:55
  by actors who don't need to sell their Bitcoin and all of a
• 45:59
  sudden the price of Bitcoin's going from zero to $100,000 with
• 46:03
  1% global adoption and 95% of all of the supply being mined.
• 46:09
  What happens in Bitcoin's next 16 years when we have two to 3%
• 46:15
  of the supply to mine and the other 99% of the world?
• 46:20
  They figure out what Bitcoin is and they figure out that they
• 46:22
  need to buy and own it. These models diminishing
• 46:27
  returns, power law models, they're using faulty data and
• 46:32
  and I just don't think they can account for what comes next.
• 46:36
  I love it. Hey, anytime we can dunk on
• 46:38
  diminishing returns, I'm all for it.
• 46:40
  Love it, love it. All right, guys.
• 46:42
  So you guys just got a glimpse of how bullish Luke is going to
• 46:45
  be. But we're going to, we're going
• 46:47
  to put that after the news because there's some interesting
• 46:49
  news bits going on that we got to cover on today's show and
• 46:53
  then stay tuned for just just, I'm going to just let Luke
• 46:56
  absolutely RIP it. It's going to be 20 minutes of
• 46:58
  Luke ranting about how he's super bullish.
• 47:00
  So we'll we'll get there in about 15 minutes.
• 47:03
  Anyways, let's get into the news.
• 47:06
  I want to give a shout out to our sponsor Casa.
• 47:08
  Bitcoin security matters, but managing private keys can
• 47:11
  sometimes be complicated, especially multi sig.
• 47:14
  What if you can secure your Bitcoin without worrying about
• 47:17
  losing a seed phrase or giving up custody?
• 47:20
  With Casa, you can completely control your Bitcoin with multi
• 47:23
  key security. So even if one key is lost or
• 47:26
  stolen, your funds stay safe. No single point of failure, no
• 47:31
  stress. That's what I absolutely love
• 47:33
  about these guys. They make taking Bitcoin and
• 47:36
  into self custody incredibly easy with their best in industry
• 47:40
  user experience through their app.
• 47:42
  I've been personally recommending Casa for years now
• 47:44
  to my friends and family because they will get all the benefits
• 47:48
  of multi key self custody security without the hassle of
• 47:51
  having to learn complicated UI. And if you're thinking of one
• 47:55
  day passing on your Bitcoin to the next generation, their
• 47:58
  inheritance plan has you covered.
• 48:00
  Also, if you're a business looking to add Bitcoin to your
• 48:03
  treasury, do it the secure way with Casa.
• 48:06
  For business to get started, go to Casa dot IO today and get 5%
• 48:11
  off Casa Standard or Casa Premium with promo code simply.
• 48:23
  You need liquidity without having to sell your Bitcoin.
• 48:26
  For more than six years now, Leaden has been the trusted
• 48:30
  choice for Bitcoin backed lending with transparency,
• 48:34
  security and trust at their core.
• 48:37
  I absolutely love these guys and I personally have not only an
• 48:41
  account with them but also alone.
• 48:43
  And some of the key features that I love about Leaden is the
• 48:46
  fact that there are no monthly payments.
• 48:48
  You pay at the end of the term. You also have the ability to
• 48:53
  roll over the loan as well, and you could pay it back whenever
• 48:58
  you want. Essentially, what they do is
• 49:00
  that they help their clients unlock the liquidity of their
• 49:03
  BTC, allowing you to huddle while still accessing the wealth
• 49:07
  of your Bitcoin. They've been battle tested with
• 49:10
  their focus on transparency, security and trust, allowing
• 49:15
  them to build a proven track record of client success and
• 49:19
  security, helping 10s of thousands of clients harness the
• 49:22
  value of their digital assets with confidence and Peace of
• 49:26
  Mind. Learn more about what your BTC
• 49:30
  can do for you. Check out leaden dot IO today.
• 49:38
  All right, guys. So as I was telling you guys,
• 49:41
  and of course as this show, it's kind of the theme of today's
• 49:44
  show is that ever since we've gotten this announcement by
• 49:47
  Trump about a strategic Bitcoin reserve and obviously him
• 49:51
  doubling down and tripling down on it, that this is a priority
• 49:54
  that he wants to make this happen.
• 49:56
  We've seen to see a lot of dominoes falling very quickly
• 50:00
  and we have one in the US and then a couple overseas as well.
• 50:04
  So first story here is the USSEC to move away from requiring
• 50:09
  crypto firms to register as trading systems chief says.
• 50:13
  So again, you know, I've been trolling for a while that maybe
• 50:16
  Gary Gensler was a good thing. He might have been a maxi, I
• 50:19
  don't know. Now it seems like we're seeing
• 50:21
  the opposite and they're just unleashing it all.
• 50:24
  Maybe we are going to see A at the very least a more free
• 50:27
  markets than we've ever seen before.
• 50:30
  And it seems like they are just unleashing the wave here.
• 50:33
  So breaking this down a little bit, the acting chief of the US
• 50:36
  Securities SEC, the Securities and Exchange Commission, AKA the
• 50:40
  SEC, said on Monday he has directed staff to look at ways
• 50:43
  to abandon a plan that would have widened the definition of
• 50:46
  alternative trading systems to include some cryptocurrency
• 50:49
  firms. The SEC in 2022 proposed
• 50:51
  requiring some crypto firms to reach reach register as
• 50:55
  alternative trading systems, drawing criticism from the
• 50:58
  sector in the face of potentially heightened oversight
• 51:01
  and additional rules. Acting Chairman Mark Uyeda told
• 51:05
  an audience of bankers he has instructed staff to look at ways
• 51:08
  to abandon that portion of the plan, which has yet to be
• 51:11
  finalized. It was an expansion of an
• 51:13
  earlier effort aimed at trading of Treasury's markets.
• 51:16
  You had a said in prepared remarks, quote, In my view, it
• 51:20
  was a mistake for the Commission to link together regulation of
• 51:22
  the Treasury markets with a heavy-handed attempt to tamp
• 51:25
  down the crypto market. Again, something we've been
• 51:28
  saying for a long time. You're starting to see that
• 51:30
  there is concerns with the treasury market.
• 51:33
  People are moving away from government debt, U.S. government
• 51:36
  debt and they're looking for alternatives.
• 51:38
  And obviously as Bitcoiners, we're like, why would you want
• 51:41
  to hold government debt when you can just hold, you know, Bitcoin
• 51:44
  and have pristine collateral and had something that has no issue
• 51:49
  that isn't controlled by anyone. It's it's a no brainer for us.
• 51:52
  But you can see that the acting chairman right now, you add up,
• 51:56
  the SEC is saying that, yes, they were actively fighting
• 51:59
  Bitcoin because they were trying to keep people into the treasury
• 52:04
  market. And I this might seem like a big
• 52:07
  revelation for a lot of people out there, but this is something
• 52:10
  we've been covering on the show for a long time.
• 52:12
  So he said he also has also asked SEC staff to renew
• 52:15
  discussion with the Treasury Department, the Fed and market
• 52:18
  participants to consider the original plans for regulatory
• 52:21
  changes on the government securities alternative trading
• 52:24
  systems. And then just to end this in the
• 52:28
  2022 proposal was part of a broader effort by the SEC again
• 52:31
  here under Democratic leadership to better protect investors by
• 52:35
  subjecting the crypto sector to a host of rules and
• 52:38
  requirements, something we've been talking about on the show
• 52:40
  for a long time. You know, rules for them, but
• 52:43
  different rules for us. And we've been fighting this.
• 52:45
  And of course, bitcoins going to win the last four years under
• 52:49
  the Biden administration, under Operation Choke .2 point O.
• 52:52
  It has been rough for a lot of Bitcoin businesses, but it looks
• 52:55
  like now we might have a lot more of a free Rd. out there
• 53:00
  anyways, under Republican leadership, the SEC in January
• 53:03
  launched a crypto task force to overhaul its crypto policy and
• 53:06
  has begun pause pausing and dismissing pending lawsuits
• 53:10
  against crypto firms. Now if that was its own thing,
• 53:15
  yes, it would be a good thing for the US because we're
• 53:17
  starting to see that the SEC is seemingly going to be a little
• 53:20
  more hands off on the Bitcoin industry.
• 53:23
  But now this isn't just happening in the US is this and
• 53:25
  remember on Monday, the office of the Comptroller also said
• 53:29
  that they will allow banks to custody Bitcoin.
• 53:32
  There there seems to be a, a, a much clearer Rd. for banks,
• 53:37
  traditional banks to hold Bitcoin.
• 53:39
  And now we're starting to see that those dominoes are falling
• 53:41
  worldwide. As Pete Rizzo tweeted, breaking
• 53:45
  the third largest stock market in Europe.
• 53:47
  Deutsche Borsch launches Bitcoin custody and they have one point
• 53:51
  trillion dollars in trade volume.
• 53:54
  So breaking this down a little bit, Deutsche Borsche's clear
• 53:57
  stream to offer a Bitcoin and shit coin custody services.
• 54:02
  Let's see Germany's Deutsche Borsch, which is interesting
• 54:06
  considering German, you know, a, a, a part of Germany sold all of
• 54:09
  their Bitcoin. Now they're like, man, we, we
• 54:11
  got to embrace Bitcoin. Now that Trump is embracing
• 54:13
  Bitcoin, we'll offer cryptocurrency custody and
• 54:15
  settlement services for institutional clients from next
• 54:19
  month, The company said on Tuesday, becoming the latest
• 54:22
  firm to offer custody management for Bitcoin And of course, the
• 54:25
  mother shit coin. The service aims to allow crypto
• 54:28
  trading from various trading venues to be settled and held in
• 54:31
  Clear Stream, Deutsche Borsche settlement business.
• 54:33
  It marks an expansion into crypto services from the German
• 54:36
  exchange after last year it launched its own crypto trading
• 54:40
  platform. From April, clients will be able
• 54:43
  to use Clear Stream for Bitcoin and Shit Coin and the mother
• 54:46
  shit coin Ether, the two largest cryptocurrencies.
• 54:49
  Well, there's Bitcoin and then there's everything else.
• 54:51
  And the company is considering adding additional shit coins
• 54:53
  based on demand. Deutsche Borsche subsidiary or
• 54:56
  Crypto Finance will act as a sub custodian.
• 54:58
  Quote. Offering crypto custody is the
• 55:01
  next step on Clearstream's journey to digitize financial
• 55:03
  markets, said Jens Hochmeister of Clearstream.
• 55:08
  Anyways, moving forward, this isn't just happening in Germany.
• 55:11
  Again, we're seeing is that this is a global phenomenon now that
• 55:16
  people, I think are starting to realize that they have to make
• 55:20
  offering Bitcoin a priority or else they're going to be left in
• 55:24
  the dust. And it's very interesting that
• 55:26
  we have Christine Lagarde, head of the ECB, saying, hey, you
• 55:29
  know, we're never going to allow Bitcoin.
• 55:31
  We're actually accelerating our CBDC products.
• 55:34
  And then banks, you know, commercial banks being like,
• 55:36
  actually, we want to offer Bitcoin for our customers
• 55:39
  because our customers are asking for it.
• 55:41
  Again, they're not just doing this because they, they want to,
• 55:44
  they're basically being forced because they realize Trump's
• 55:47
  doing it. And also customers must have
• 55:49
  been asking for it for a long time.
• 55:51
  And just to wrap this segment up, just to show how big of the
• 55:54
  dominoes are falling, Spain's second largest bank, the BBVA,
• 55:57
  gets approval to launch Bitcoin trading and custody services.
• 56:01
  So banks all around the world are starting to look at Bitcoin.
• 56:04
  They're starting to realize that, hey, we need to step into
• 56:08
  this arena or else we are being left in the dusk.
• 56:11
  Now, as an individual person here, as someone that always
• 56:15
  tells you that you need to stack Bitcoin personally, you don't
• 56:18
  need a middleman. Again, reread the white paper.
• 56:21
  This isn't about having a middleman custody your Bitcoin.
• 56:24
  It's about you taking the personal responsibility and the
• 56:28
  sovereignty of taking back your money and taking your Bitcoin
• 56:31
  into custody. Though the writing is on the
• 56:33
  wall, banks all around the world are starting to realize hey we
• 56:38
  need to get into this Bitcoin thing.
• 56:41
  They want to custody your Bitcoin.
• 56:43
  They want to hold your Bitcoin because of course they can make
• 56:46
  fees on top of it. They want to allow trading on
• 56:48
  their platforms now because of course they can make money off
• 56:51
  of you essentially you know losing your Bitcoin to shit
• 56:54
  coin. So you need to understand what
• 56:58
  is going on. Again, I hate to keep saying it,
• 57:01
  but there is a phase shift going on right now.
• 57:04
  Bitcoin has entered a new paradigm.
• 57:07
  Bitcoin has grown up. We've gotten to a point now
• 57:11
  where every institution in the world has to at the very least,
• 57:15
  have a Bitcoin strategy. Now, of course, as we've been
• 57:18
  saying for a long time, if you're selling your Bitcoin
• 57:21
  right now, if you're giving up the keys of your Bitcoin, it's
• 57:24
  because these institutions want your Bitcoin.
• 57:27
  That's what they want. So do not give them the
• 57:29
  opportunity of holding your Bitcoin.
• 57:31
  But you're starting to see the writing on the wall that the
• 57:34
  traditional financial system is very interested in Bitcoin, and
• 57:37
  it's only a matter of time until something breaks upward.
• 57:41
  It's only a matter of time until all of this liquidity getting
• 57:44
  into Bitcoin, all these institutional managers getting
• 57:46
  into Bitcoin, that the Bitcoin price is going to pump 21
• 57:50
  million hard cap smashing up against $900 trillion of global
• 57:54
  liquidity. It's only a matter of time until
• 57:57
  Bitcoin starts to make incredible moves.
• 57:59
  And I know we've been kind of hearing the rumors about market
• 58:02
  manipulations. Right now, I would just say they
• 58:05
  just don't want Bitcoin to run too early.
• 58:07
  They want to get their Bitcoin positioned.
• 58:09
  But you're starting to see that everyone is looking for some
• 58:13
  exposure to Bitcoin. If that's not making you
• 58:15
  bullish, then Luke will in about 5 minutes.
• 58:18
  Luke. And all the banks getting into
• 58:21
  Bitcoin custody. What's interesting about the
• 58:23
  banks you mentioned, because those banks are from Europe up
• 58:27
  there, yeah. Exactly.
• 58:28
  So the first part of the segment, we were saying at the
• 58:31
  high level, the ECB, the central bank that's supposed to control
• 58:37
  all the banks underneath them, they're saying, yeah, we don't
• 58:41
  like Bitcoin. Bitcoin's an escape valve.
• 58:43
  We want to ban Bitcoin. We want to launch a CBDC in the
• 58:46
  near future. But the private banks in Europe
• 58:50
  are saying, actually, no, we don't like central bank digital
• 58:54
  currencies. I mean, a central bank digital
• 58:55
  currency literally like undercuts a bank.
• 58:59
  If the everyday retail pleb like you and I can now have an
• 59:03
  account with the central bank, we don't need the commercial
• 59:07
  bank in the middle. It's as simple as that.
• 59:09
  So I think it's natural that the banks are beginning to wake up
• 59:12
  to Bitcoin and the fact that they need to adopt Bitcoin
• 59:17
  before the central banks undercut them and say, sorry,
• 59:19
  we're going to take your lunch from you.
• 59:21
  That's the the biggest thing I noticed about the most recent
• 59:24
  news with those two banks in Spain and Germany, Opti.
• 59:28
  But I think there's always there's always, you know, just
• 59:31
  broader signs of adoption everywhere.
• 59:33
  And I think, you know, multi trillion dollar banks, multi
• 59:36
  $100 billion banks adopted Bitcoin.
• 59:39
  These are just massive signs that our chance to stack Bitcoin
• 59:43
  under 100,100, under $100,000, he's probably disappearing
• 59:48
  pretty rapidly. I again, I would love for the
• 59:52
  price to go sideways for another four years here.
• 59:54
  I would love for Bitcoin to have already topped, but I just don't
• 59:58
  think that's the most likely scenario right now.
• 1:00:00
  What do you think, Opti? No, I just, I can't dude.
• 1:00:03
  I'm a bull tard. I it just doesn't feel like a
• 1:00:06
  top to me. I didn't get any euphoria.
• 1:00:08
  I didn't get any, you know, blow off top vibes yet.
• 1:00:11
  I, I barely got bull tarded on Twitter, you know, like I
• 1:00:14
  haven't felt the, the vibe in me where I'm just bull posting
• 1:00:19
  every day and losing my mind. I haven't felt that at all.
• 1:00:21
  You know, 100K once Trump got elected.
• 1:00:24
  Yeah, that was kind of fun for like an hour.
• 1:00:27
  I remember I jumped on a call with Nico and, and our Slack
• 1:00:29
  team and we like celebrated for like 30, 30 minutes and then
• 1:00:33
  we're like, OK, this is boring now.
• 1:00:34
  Like I'm already bored with this.
• 1:00:36
  I've expected 100K like four years ago and I'm only getting
• 1:00:40
  it now. So it was kind of exciting.
• 1:00:42
  But yeah, no, I, I don't think we've topped out.
• 1:00:44
  I think we're just seeing a lot of macroeconomic factors right
• 1:00:48
  now and it is pushing the Bitcoin spring down.
• 1:00:51
  But of course, the, the tighter the spring does spring, the
• 1:00:56
  higher it's going to go upwards. So, you know, actually we'll
• 1:00:59
  talk about it right now. Luke in the culture I'm I'm
• 1:01:02
  starting to get the feeling it's a very small feeling, but I'm
• 1:01:05
  starting to get the feeling that maybe 2026 might not be as bad
• 1:01:09
  of the bull market as we all expect it to be.
• 1:01:13
  Maybe a 2026 is just like a sideways action, you know, step
• 1:01:16
  function action. Anyways, we'll talk about that
• 1:01:18
  right now with Luke because I'm going to just tee Luke up and
• 1:01:21
  he's going to get super bullish here.
• 1:01:22
  So if you've been hanging out on today's show, just wait.
• 1:01:25
  I'm going to unleash Luke. And if you haven't been
• 1:01:28
  stacking, I'm sure Luke's going to get you stacking very
• 1:01:31
  quickly. So let's get into the culture
• 1:01:33
  and let's get bull tarted. I want to give a shout out to
• 1:01:37
  our partner Hive Digital Technologies.
• 1:01:41
  As the first ever public miner, Hive's position to quadruple
• 1:01:46
  their global footprint in 2025 and as the first with an AI
• 1:01:51
  strategy, Hive continues to make moves in sustainable high
• 1:01:56
  performance computing. They consistently topped the
• 1:01:59
  industry in Bitcoin mine per EXA hash and now they're
• 1:02:04
  headquartered in the USA. They're leaning me, they're
• 1:02:07
  green and clean, and they're changing the game.
• 1:02:10
  You can catch the latest buzz by following them at Hive Digital
• 1:02:14
  Tech or check out their website at hivedigitaltech.com.
• 1:02:29
  I want to give a shout out to our partner coin kite.
• 1:02:32
  If you take your Bitcoin security seriously, you'll need
• 1:02:35
  the best Bitcoin hardware wallet on the market to take self
• 1:02:39
  custody. That's where cold card comes in
• 1:02:42
  The cold card queue is the most advanced Bitcoin signing device
• 1:02:46
  ever made. It's got a full keyboard, larger
• 1:02:49
  screen and NFC support, making air gap signing easier than
• 1:02:53
  ever. It's built for power users who
• 1:02:55
  want the ultimate security without sacrificing usability.
• 1:02:59
  And if you're looking for a battle tested on compromising
• 1:03:03
  cold storage, the Cold Card MK4 is your go to.
• 1:03:07
  With PSPT signing an industrial grade secure element and USBC,
• 1:03:12
  it's the perfect blend of security and convenience.
• 1:03:15
  Both devices are of course, 100% Bitcoin only open source and
• 1:03:20
  built by Bitcoiners for Bitcoiners.
• 1:03:23
  Secure your Bitcoin the right way with the Cold Card queue and
• 1:03:27
  the MK4. Head over to coldcard.com today
• 1:03:30
  and use promo code simply to get 5% off anything on the store.
• 1:03:38
  All right, Luke, well, let's get into this.
• 1:03:40
  Actually, Luke, I have a challenge for you, a live
• 1:03:44
  challenge. Someone said in the chat 300
• 1:03:48
  likes is the goal. So Luke, I am challenging right
• 1:03:52
  now to get as bullish as possible so we can hit 300 likes
• 1:03:57
  on the stream. I think the last time you came
• 1:04:00
  on the show, I asked you what was the big idea that you think
• 1:04:03
  everyone is missing right now. And of course, we've covered a
• 1:04:06
  lot today. We've been covering a lot on the
• 1:04:08
  show. I know some people are starting
• 1:04:10
  to wonder why, what is going on with the price?
• 1:04:12
  Like Bitcoin should be at 100K right now.
• 1:04:15
  You know, in the chat, they're like, can Bitcoin go to 100K by
• 1:04:18
  May? And obviously we don't have a
• 1:04:21
  crystal ball here. We don't know what's actually
• 1:04:23
  going to happen. But we do know that Bitcoin
• 1:04:27
  over, you know, 10 years from now is going to go up and to the
• 1:04:30
  right. So Luke, what do you think is
• 1:04:32
  the bullish idea that everyone is missing?
• 1:04:36
  I'll give you 2. So first I want to comment on
• 1:04:39
  what you just said a moment ago with a caveat.
• 1:04:42
  So you said the spring is coiling.
• 1:04:44
  I typically agree use a lot of people know the reason why the
• 1:04:49
  Bitcoin price is kind of correcting right now.
• 1:04:51
  Again, we dip under $80,000 for the first time in about four
• 1:04:54
  months yesterday, and I think it's reminding me of 2020 a lot.
• 1:04:59
  So in 2020, Bitcoin crashed during the 2020 hysteria in
• 1:05:04
  early 2020. Be very careful of what I say on
• 1:05:06
  that one. But Bitcoin crashed like $3800.
• 1:05:10
  The money printers were turned on.
• 1:05:12
  Bitcoin rallied from $3800 to $65,000 in not a lot of time, in
• 1:05:19
  around a year's time. OK, So what I think is really
• 1:05:23
  interesting about this cycle is we haven't even seen the money
• 1:05:26
  printers get turned on yet and bitcoins rallied from 16,000 to
• 1:05:30
  110,000. And if you actually look at
• 1:05:33
  charts of global M2 money supply expansion, we haven't even seen
• 1:05:40
  the money supply really start moving yet.
• 1:05:42
  So from memory, I hope I don't butcher this, but from memory,
• 1:05:46
  in the 2016 cycle we saw the global M2 money supply expand by
• 1:05:53
  something like 25%. Bitcoin rallied by 20X.
• 1:05:57
  So in 2017 we rallied from 1K to 20K.
• 1:06:01
  In 2013 we saw something similar.
• 1:06:03
  Global money supply expanded by about 22%.
• 1:06:06
  Bitcoin rallied by a shit ton. Did 100X right in 2013.
• 1:06:11
  That was when we saw the big double pump.
• 1:06:13
  And then in 2020 global money supply expanded by something
• 1:06:17
  like 50%. This was post 2020 hysteria
• 1:06:20
  times. Bitcoin rallied by 6 or 700%
• 1:06:24
  right now the global money supply over the past 18 months,
• 1:06:28
  it's pretty much sideways. Have a look at it this this
• 1:06:31
  chart that often pulled up is perfect.
• 1:06:33
  Where's the increase on the right hand side of that chart?
• 1:06:35
  Show me those red bars of global money supply expanding.
• 1:06:40
  I haven't global money supplies sideways for the past 18 months.
• 1:06:44
  This upswing in global liquidity has not even started yet.
• 1:06:49
  And yesterday I saw a news headline literally yesterday
• 1:06:53
  when Germany said I think it was a central banker or a finance
• 1:06:57
  minister in Germany said we could create a trillion dollars,
• 1:07:01
  we wouldn't see inflation. Oh, I saw that, Leah.
• 1:07:04
  Let me see if I can pull that up.
• 1:07:06
  All right, keep going. True story, true news.
• 1:07:09
  It happened. I saw it.
• 1:07:10
  So the warning signs are there. China right now printing money,
• 1:07:14
  China's lowering interest rates, Trump putting pressure on the
• 1:07:19
  central bank saying we need a lower interest rates, we need to
• 1:07:21
  print money. OK.
• 1:07:23
  I think the fact that global money supply has not expanded
• 1:07:27
  yet. When it does, and again, there's
• 1:07:29
  these four year cycles of global liquidity, if the past continues
• 1:07:33
  to repeat itself, sometimes it might not.
• 1:07:36
  But if it does, and if global money supply does increase by
• 1:07:40
  like 22 or 26% like it did in 2013 and 2017, or even if it
• 1:07:46
  increases by 50% like it did in 2020 and 2021, what do you think
• 1:07:51
  Bitcoin is going to do? So this is a little bit of a
• 1:07:54
  reason to be near term bullish. We've rallied from 16 K to 110
• 1:07:59
  K. The global money supply has gone
• 1:08:01
  sideways for two years. We're up by 1%.
• 1:08:03
  OK. So this is one near term reason
• 1:08:07
  for why I think I'm incredibly bullish for the near term.
• 1:08:11
  And as we can see here, Ofti's brought it up, Germany could
• 1:08:14
  spend almost €2 trillion without harming growth.
• 1:08:20
  I mean, honestly, do these people actually just proofread
• 1:08:23
  what they're saying? It's ridiculous.
• 1:08:27
  So that's the first big thing, the first big bullish take away.
• 1:08:31
  I think a lot of people are missing, OK?
• 1:08:34
  They're not paying attention to just how bullish things could be
• 1:08:37
  in the short term. Again, everything's a
• 1:08:39
  probability in life. I don't know where the Bitcoin
• 1:08:42
  price is going to go over the next 12 to 18 months.
• 1:08:45
  I think we're in a bull run and I think these models of
• 1:08:49
  diminishing returns and parallel models, I think they're
• 1:08:51
  incredibly dangerous because like I said earlier, I think
• 1:08:54
  they've got 16 years of faulty data.
• 1:08:56
  I think they're using those first eleven years of Bitcoin's
• 1:08:59
  life when it was dominated by retail traders speculating on
• 1:09:04
  the price and sending their Bitcoin to exchanges to sell it
• 1:09:07
  for some Lambos. I think we're in a different era
• 1:09:09
  right now and again, so I don't want to get down that rabbit
• 1:09:12
  hole. But what I will say is over the
• 1:09:14
  next 12 to 18 months, I think everybody is not bullish enough,
• 1:09:19
  OK, Bitcoin can 20X very easily like it did in 2017.
• 1:09:22
  Did that in nine months. The money supply hasn't even
• 1:09:25
  started expanding yet. I don't think it's crazy for
• 1:09:27
  Bitcoin to 20X in a bull run. I just don't think it's crazy at
• 1:09:30
  all. What's that $1,000,000 Bitcoin,
• 1:09:32
  $2,000,000 Bitcoin? I think if a lot of people saw
• 1:09:34
  those prices, they'd freak out and shave their head.
• 1:09:38
  You won't catch me shave my head.
• 1:09:39
  But we're not quite prepared for Bitcoin at those prices.
• 1:09:44
  So that's my first reason for incredibly bullish short term
• 1:09:50
  and a medium term outlook. Opti, you can jump in and say
• 1:09:53
  something on that, but then I think I want to zoom out a
• 1:09:55
  little bit more and. Yeah, yeah, no, yeah, I
• 1:09:57
  definitely want to get to your second point, but I think you
• 1:10:00
  made an interesting point there because I think if we see if we
• 1:10:04
  saw a, you know, a quick move, a very aggressive move up to like
• 1:10:08
  $1,000,000. I'm not going to say this bull
• 1:10:11
  run. But if we did see a, you know,
• 1:10:13
  1020 X move by this year, which would be absolutely insane.
• 1:10:19
  I think a lot of people would look at Bitcoin and it might
• 1:10:21
  just fundamentally like trigger something in their mind where
• 1:10:24
  they're like, how could Bitcoin run this much?
• 1:10:26
  There must be a problem within the system.
• 1:10:29
  And maybe we see an even faster capitulation of Fiat going into
• 1:10:33
  Bitcoin because people are maybe hopefully, and with like efforts
• 1:10:36
  like hours realizing if Bitcoin runs that quickly, not only does
• 1:10:41
  it mean there's a lot of liquidity getting into Bitcoin,
• 1:10:43
  like a lot of liquidity getting into Bitcoin, but it it's
• 1:10:47
  probably a sign that there is an even greater problem in the
• 1:10:51
  traditional financial world than anyone even imagines.
• 1:10:54
  And I think that might just like subconsciously trigger something
• 1:10:57
  in people's minds if it happened quickly.
• 1:10:59
  Like I'm still kind of on and you guys can call me a bear all
• 1:11:02
  you want, but I'm still kind of on like a million probably by
• 1:11:06
  next cycle, which is kind of in line with that 2030 kind of
• 1:11:10
  prediction of Bitcoin $1,000,000 by 2030.
• 1:11:14
  So I'm, that's kind of what I'm thinking.
• 1:11:16
  It's a more slash gradual climb up then if we saw a 10X from
• 1:11:21
  here, which obviously I'd be, you know, I'd, I'd eat my humble
• 1:11:24
  pie if that didn't happen, I'd be all for it.
• 1:11:26
  But I think subconsciously, at the very least, we'd see people
• 1:11:30
  start to panic and they would start to capitulate their Fiat
• 1:11:32
  as quickly as possible. So that, that would be a very
• 1:11:34
  interesting thing to see. Anyways, go into your second
• 1:11:37
  second point. Yeah.
• 1:11:38
  And I don't think you're, I don't think that's crazy either.
• 1:11:41
  For Bitcoin to be at $1,000,000 by 20-30, it kind of aligns a
• 1:11:44
  little bit with the power law. And again, I'm not saying the
• 1:11:47
  power law is breaking tomorrow. I'm 100% sure of it because I
• 1:11:50
  think that's just incredibly ignorant to have that kind of
• 1:11:53
  hubris. What I am saying is I think a
• 1:11:56
  lot of people are saying there's 100% probability we're at
• 1:11:59
  $1,000,000 in 20-30 because of this beautiful maths and science
• 1:12:03
  and somebody drew some lines on a chart.
• 1:12:04
  So Bitcoin has to follow a power law, right?
• 1:12:07
  I just think that's incredibly short sighted.
• 1:12:10
  I, I think again, everything's a probability and like, like, hey,
• 1:12:13
  we, I give it a 20 to 30% chance that we're still following a
• 1:12:16
  power law by 20-30. I'm not saying it's impossible
• 1:12:19
  and it's going to break immediately.
• 1:12:21
  It will break. We just don't know when.
• 1:12:23
  OK. So that's what I encourage
• 1:12:25
  people to do. Just think outside the box.
• 1:12:27
  Don't just trust somebody because they have credentials.
• 1:12:29
  Anyway, second reason that I think is, you know what, what I
• 1:12:34
  think, what's the second thing I think people are missing?
• 1:12:36
  I think it's simply supply suffocation.
• 1:12:39
  I think it it really is like we were talking about earlier
• 1:12:42
  there's, you know, two to two and a half million Bitcoin on
• 1:12:45
  exchanges. 1 entity Michael Saylor holds 500,000 Bitcoin and
• 1:12:51
  he is now going to Donald Trump's house, the 45th and the
• 1:12:56
  47th president of America and orange peeling him telling him
• 1:13:00
  you need to buy Bitcoin. He just gave an hour long
• 1:13:03
  presentation today saying America needs 5.5 million
• 1:13:08
  Bitcoin. Where are they going to buy the
• 1:13:10
  5.5 million Bitcoin from? There's only 2 1/2 on exchanges.
• 1:13:15
  It's a simple supply suffocation.
• 1:13:17
  OK. I really think a lot of people
• 1:13:20
  are not paying attention to how rapidly things are going to
• 1:13:22
  evolve and how much. We're going to see a little bit
• 1:13:24
  of a scramble for the last remaining Bitcoin on exchanges
• 1:13:29
  as Michael Saylor continues to increase his net worth like he
• 1:13:33
  is. He's nearly up to a $10 billion
• 1:13:35
  net worth, last time I checked. What happens when he gets to $50
• 1:13:38
  billion of a net worth? What happens when he gets to
• 1:13:41
  $100 billion net worth and he climbs into that top 20 or that
• 1:13:46
  top 50 world's richest rich list?
• 1:13:50
  What happens? The other billionaires are going
• 1:13:53
  to have to be forced to try to be richer than Michael Saylor.
• 1:13:57
  This is because I, I fundamentally believe that a lot
• 1:14:00
  of billionaires, not all, but there are a lot of billionaires
• 1:14:03
  who are looking at that world's richest leaderboard rich list.
• 1:14:06
  And they're saying, I just want to be #1 I just want to be #5 I
• 1:14:08
  just want to be #10 I want to beat my competitors.
• 1:14:11
  And eventually all of these billionaires are going to
• 1:14:13
  realize the only way to be richer than Michael Saylor is to
• 1:14:16
  buy more Bitcoin than Michael Saylor.
• 1:14:19
  Because if big assumption. But if Bitcoin continues doing
• 1:14:23
  what it's doing, if it continues to be adopted by more people
• 1:14:26
  around the world because there's a better technology, the price
• 1:14:29
  of Bitcoin is going to go up and Michael Saylor is going to get
• 1:14:32
  richer. It's really as simple as that.
• 1:14:35
  And eventually the other billionaires will figure that
• 1:14:37
  out. And they're going to have to
• 1:14:39
  come to terms with the fact that they now need to buy more than
• 1:14:42
  500,000 Bitcoin to hold more Bitcoin than Michael Saylor and
• 1:14:46
  retain their spot on the leaderboard ahead of Michael
• 1:14:51
  Saylor. They're going to have to try to
• 1:14:53
  stay richer than Michael Saylor. Now, I know this sounds crazy,
• 1:14:56
  and a lot of people struggle to conceptualize such a crazy
• 1:15:00
  future. I've been saying this was going
• 1:15:02
  to happen for five years, though, since Michael Saylor
• 1:15:04
  started buying Bitcoin. And have a look at what's
• 1:15:06
  happened with Microstrategy's treasury.
• 1:15:09
  MicroStrategy was a $1 billion company in 2020 I think.
• 1:15:14
  I actually googled for a video how big they were from a market
• 1:15:18
  cap perspective and a treasury perspective before they started
• 1:15:21
  buying Bitcoin. I don't remember the exact
• 1:15:23
  numbers, but I think MicroStrategy was something like
• 1:15:26
  the four thousandth largest public company. 4 thousandth.
• 1:15:32
  There were 4000 public companies with a bigger market cap and a
• 1:15:35
  bigger treasury than MicroStrategy before they
• 1:15:37
  started buying Bitcoin. Now there's 6.
• 1:15:42
  Insane. There's six companies with a
• 1:15:45
  bigger treasury than MicroStrategy 6.
• 1:15:51
  So I, I just think we're going to see the same thing.
• 1:15:53
  And again, look at the companies who do have a bigger treasury
• 1:15:56
  than MicroStrategy. Amazon, Facebook, all of these
• 1:16:01
  big companies are being forced to investigate Bitcoin.
• 1:16:05
  Their shareholders are saying, Microsoft, we want you to
• 1:16:09
  investigate Bitcoin. Have a look at what
• 1:16:11
  Microstrategy's done. Just investigate it.
• 1:16:14
  Please don't let MicroStrategy get richer than us.
• 1:16:18
  Don't let MicroStrategy have a bigger treasury than us.
• 1:16:23
  So I think we're just going to see this global FOMO occur
• 1:16:25
  everywhere, not just in the ranks of public companies.
• 1:16:28
  We're also going to see this in the ranks of billionaires,
• 1:16:32
  millionaires, we're going to see a race to one Bitcoin.
• 1:16:35
  Every millionaires eventually going to be absolutely
• 1:16:36
  scrambling to buy one Bitcoin. We're going to see exactly what
• 1:16:41
  British hodl has been talking about for many years play out.
• 1:16:44
  Everybody's going to be scrambling for one Bitcoin.
• 1:16:46
  All the nation states are going to be scrambling to mine
• 1:16:48
  Bitcoin. All the nation states are going
• 1:16:49
  to continue secretly mining Bitcoin likes what has been
• 1:16:53
  happening for six years now in the Kingdom of Bhutan.
• 1:16:57
  And I, I think in, like I said earlier, in five years, we're
• 1:17:00
  going to wake up. It's going to be all over.
• 1:17:02
  It's as simple as that. Bitcoin's going to be 10s of
• 1:17:05
  millions of dollars a coin. Incredible.
• 1:17:08
  One point that you mentioned, and I think few people really
• 1:17:10
  understand, like how competitive these billionaires really are,
• 1:17:15
  is what you're saying. Like people simply want to climb
• 1:17:19
  that rich list. And you can say it's just
• 1:17:21
  because of ego. You can say because they're
• 1:17:23
  competitive. But we're going to get to a
• 1:17:26
  point where the richest, wealthiest, most competitive
• 1:17:30
  people in the world are, as Luke's saying, competing to get
• 1:17:34
  one Bitcoin. And we're not there yet.
• 1:17:36
  It hasn't caught and on, but I think we're probably closer than
• 1:17:39
  we've imagined it would ever be. Like, could we have a I've
• 1:17:43
  imagined, you know, I know I couldn't have.
• 1:17:45
  When I got in Bitcoin, it still seemed like a, you know, I don't
• 1:17:50
  want to say criminals money, but it was like black market money
• 1:17:53
  when I got in around 2017. And now the US government has
• 1:17:57
  officially stamped their approval on it.
• 1:17:59
  And they're like, yeah, we want to own Bitcoin as a global
• 1:18:02
  neutral reserve asset. So I think people are
• 1:18:05
  fundamentally understanding how quickly this can go.
• 1:18:08
  Now, Luke, I do want to pivot this a little bit because you
• 1:18:11
  say it all the time. And half the time I believe you.
• 1:18:16
  And the other half of the time, I'm still just some I'm a boomer
• 1:18:19
  here when it comes to my my Bitcoin models here.
• 1:18:22
  And I'm still a cycle theory maxi.
• 1:18:25
  It still seems to be in play. What?
• 1:18:27
  What's broke? You know what?
• 1:18:28
  What? What isn't broke.
• 1:18:29
  Let's not fix. So is cycle theory over?
• 1:18:33
  Oh, I think I lost them. Did I lose you?
• 1:18:35
  Luke, I can hear you. OK, You're back.
• 1:18:39
  You're here. Did you hear the question?
• 1:18:44
  Oh, we lost him to the Matrix, Luke.
• 1:18:52
  I am your father. I think I heard the question.
• 1:18:54
  Amazing. OK, you were you were frozen for
• 1:18:56
  a little bit. OK.
• 1:18:58
  Could you explain the, could you do your takes on cycle theory or
• 1:19:05
  rather all the models are broken and we may be entering into the
• 1:19:09
  S curve adoption that a lot of us have been kind of forecasting
• 1:19:13
  that would take place? Yeah.
• 1:19:18
  So I think we're there. And I think it just depends upon
• 1:19:22
  which adoption curve you're looking at.
• 1:19:25
  So like I says, with the adoption of medium of exchange
• 1:19:30
  usage of Bitcoin in the retail space, I think we're so far away
• 1:19:35
  from the exponential part of adoption.
• 1:19:37
  I think the masses are decades away, maybe not decades away,
• 1:19:40
  but they're a long way away from using Bitcoin as a medium of
• 1:19:43
  exchange and a unit of account. I agree with most people, but
• 1:19:48
  what most people don't look at is the adoption rate of those
• 1:19:52
  entities who actually control the majority of the $900
• 1:19:57
  trillion of capital. Because watching what these guys
• 1:20:01
  do with their money, that's the only thing that matters because
• 1:20:06
  they are the ones who are going to impact Bitcoin's price the
• 1:20:09
  most. So the entities I'm talking
• 1:20:12
  about are the hedge fund space. They hold $5 trillion.
• 1:20:17
  There's 15,000 hedge funds. More than 50% of them own
• 1:20:21
  Bitcoin today. Bitcoin adoption by the hedge
• 1:20:23
  fund managers, it's above 50%. What about the world's largest
• 1:20:28
  asset managers? BlackRock, Fidelity, Vanguard,
• 1:20:33
  Vanek. They control 10s of trillions of
• 1:20:36
  dollars of capital. If you look at the top ten money
• 1:20:39
  managers, more than like 8 of them have a Bitcoin product.
• 1:20:43
  What's Bitcoin adoption amongst the world's largest asset
• 1:20:45
  managers? 80%.
• 1:20:48
  And again, I just think we're seeing signs that those who
• 1:20:52
  actually matter and those who are actually going to impact and
• 1:20:55
  move the Bitcoin's price, these guys are adopting Bitcoin at a
• 1:20:59
  far more rapid rate. And This is why I'm so bullish
• 1:21:03
  on Bitcoin. OK, I wasn't as bullish on
• 1:21:05
  Bitcoin pre 2020. I found Bitcoin in 2017 and I
• 1:21:09
  was a cycle theory maximalist for about 3 to four years there.
• 1:21:13
  2017, 2018-2019, 2020 I thought I was a genius.
• 1:21:17
  I was going to continue trading these cycles of diminishing
• 1:21:21
  returns and increasing my stack of Bitcoin.
• 1:21:24
  I was a trader, bro. When I first found Bitcoin.
• 1:21:27
  I didn't understand it. And 2020 really shoved me down
• 1:21:31
  the rabbit hole a lot further, being trapped in Australia.
• 1:21:33
  And I kind of came to the realization, OK, there's a lot
• 1:21:36
  more to Bitcoin than just this economic model of it following
• 1:21:40
  these four year cycles of diminishing returns.
• 1:21:43
  And then all of a sudden, Michael Saylor became the first
• 1:21:45
  billionaire and the first public corporation to say, yeah, you
• 1:21:48
  know what? I might have $400 million
• 1:21:51
  sitting in my treasury, but I'm going to plow that into Bitcoin.
• 1:21:54
  That made me pay attention and I said, OK, this is interesting.
• 1:21:58
  This this is different. We haven't actually seen any
• 1:22:02
  news like this pre 2020. And then all of a sudden the
• 1:22:05
  next kind of six months just confirmed all of that.
• 1:22:08
  We saw the First Nation state adopting Bitcoin Buchele.
• 1:22:11
  We saw the world's richest man, Elon Musk buying a $1.5 billion
• 1:22:17
  worth of Bitcoin. We saw Mass Mutual, a 180 year
• 1:22:21
  old pension fund by over $100 million worth of Bitcoin.
• 1:22:25
  So I think I, I, I just fundamentally believe that 2020
• 1:22:28
  was the inflection point. And I, I just do think that we
• 1:22:32
  are in this different era of Bitcoin.
• 1:22:34
  And if Bitcoin just continues doing what it's doing, I think
• 1:22:38
  we're all going to be very surprised if the trend of
• 1:22:40
  Bitcoin leaving the exchanges just continues doing what it's
• 1:22:43
  doing. We just got no Bitcoin on
• 1:22:44
  exchanges by 20-30. And I just don't think we're
• 1:22:48
  going to see the real price of Bitcoin until we find out who's
• 1:22:51
  swimming naked, what exchanges might not be holding the Bitcoin
• 1:22:55
  that they claim to hold, nudge, nudge, wink, wink, Coinbase.
• 1:23:00
  And I do think we're going to see some really interesting
• 1:23:03
  things when the number of Bitcoin on exchanges gets
• 1:23:06
  underneath a million or underneath 500,000.
• 1:23:08
  Because I think the true price of Bitcoin's on the black market
• 1:23:11
  today, if you want to try to buy Bitcoin on the black market,
• 1:23:13
  it's trading at a 10 or 15% premium, which is normal.
• 1:23:17
  If you want to buy Bitcoin without identities associated
• 1:23:20
  with it, you pay a 10 to 15% premium on that.
• 1:23:23
  And I think my, my base case is that when the number of Bitcoin
• 1:23:28
  on exchanges hit zero, you're going to see the Bitcoin price
• 1:23:32
  on the black market skyrocket, like skyrocket.
• 1:23:35
  And you're going to see a massive disparity between price
• 1:23:39
  on Coinbase and then price on black market.
• 1:23:42
  And as more and more people try to withdraw their Bitcoin, then
• 1:23:45
  they think they own off Coinbase into their own private wallets.
• 1:23:48
  And Coinbase says, yeah, you know what?
• 1:23:51
  Two week delay, three-week delay, four week delay, Actually
• 1:23:55
  six week delay. That's what recently happened
• 1:23:57
  with the Bank of England and all of the big gold banks.
• 1:23:59
  People are trying to get gold out of the English banks because
• 1:24:02
  of the Trump tariffs. And now the central bank's
• 1:24:04
  saying, yes, six week, wait, sorry, you can't get to gold.
• 1:24:07
  It's because it's so big and physical and cumbersome.
• 1:24:10
  That's why we have a six week delay, not because we don't own
• 1:24:14
  the gold that we're supposed to own for you.
• 1:24:15
  I think we're going to see the same thing with Bitcoin.
• 1:24:18
  I think when that happens, things are going to get really
• 1:24:20
  interesting. I think we're going to find out
• 1:24:21
  the real price of Bitcoin super quickly because Coinbase can't
• 1:24:24
  use that same excuse when they refuse to give their customers
• 1:24:29
  their Bitcoin in 20-30. Again, these are just
• 1:24:31
  hypothetical thought experiments.
• 1:24:32
  I don't want to say I know exactly what the future looks
• 1:24:35
  like. Who knows, Coinbase might have
• 1:24:37
  done some positive things for Bitcoin.
• 1:24:38
  Not throwing shade at Coinbase, just any exchange, because
• 1:24:42
  Bitcoin's completely transparent.
• 1:24:43
  We can see the number of Bitcoin on exchanges and when it starts
• 1:24:46
  to approach zero and when we start seeing all of the posts on
• 1:24:50
  Twitter of people saying I'm trying to get my coins out of
• 1:24:53
  XYZ exchange and they're telling me two week delay.
• 1:24:56
  I've been waiting 4 weeks to get my Bitcoin out of this exchange.
• 1:25:00
  They still won't give it to me. All of a sudden, the price of
• 1:25:03
  Bitcoin in the black market's going to absolutely skyrocket.
• 1:25:05
  And then we're going to really start to find out what is the
• 1:25:07
  true price of a Bitcoin. And I don't think that is
• 1:25:11
  $1,000,000 a coin. I don't think it's $5,000,000 a
• 1:25:15
  coin. I don't think it's $10 million a
• 1:25:16
  coin. I even think $100 million per
• 1:25:19
  coin is bearish. I I really do believe that.
• 1:25:22
  And I am talking about today's purchasing power.
• 1:25:26
  OK. I do think, you know, people
• 1:25:28
  just aren't thinking about how wild things are going to get.
• 1:25:31
  I don't think people are thinking about what happens to
• 1:25:33
  the multiplier effects when there's no Bitcoin on exchanges.
• 1:25:37
  The multiplier effect right now is at an all time high.
• 1:25:39
  That's 6X. Does it hit 20X30X40X50XI?
• 1:25:47
  Think people really haven't thought about this.
• 1:25:48
  And I think, I can't remember the exact analogy, but it's like
• 1:25:52
  squeezing toothpaste out of a tube.
• 1:25:54
  You, you don't put the toothpaste back into the tube.
• 1:25:57
  And I mean, we have $900 trillion capital that's going to
• 1:26:00
  try to be squeezing into Bitcoin.
• 1:26:03
  I, I just, I, I just don't see a future where Bitcoins not worth
• 1:26:08
  hundreds of millions of dollars per coin.
• 1:26:10
  And again, my fellow Australian Peter Dunworth, who has a little
• 1:26:15
  bit less hair than me, I could give him some.
• 1:26:17
  He believes we're going to, he, he talks about the possibility.
• 1:26:21
  I don't want to put words in Peter's mouth of Bitcoin being
• 1:26:23
  worth even more than that. And I think Peter's absolutely
• 1:26:25
  over the money. He's got decades of experience
• 1:26:29
  in the economic space. So again, you don't have to
• 1:26:30
  listen to my crazy, uneducated rants about Bitcoin.
• 1:26:34
  Again, I don't exactly look like a financial advisor.
• 1:26:36
  I get that. Listen to Peter, listen to Peter
• 1:26:40
  Dunworth, my fellow Australian. Listen to Michael Saylor.
• 1:26:44
  He's got a $10 billion net worth.
• 1:26:46
  He's been a public corporation CEO.
• 1:26:49
  He's been CEO of a public company for 25 years.
• 1:26:53
  He's pretty obsessive. What is he, an aeronautical
• 1:26:56
  engineer? He's a historian, and he's a
• 1:26:59
  walking, talking encyclopedia. He's telling you his base case
• 1:27:04
  is $13 million Bitcoin in 20 years.
• 1:27:07
  His base case, he's even got a bull case that's even higher
• 1:27:10
  than that. So again, I just think
• 1:27:13
  everybody's short on Bitcoin. I think so many people are going
• 1:27:16
  to sell their Bitcoin too early. And I would just encourage
• 1:27:18
  people, don't sell your Bitcoin. Don't keep your Bitcoin on an
• 1:27:23
  exchange self custody your Bitcoin.
• 1:27:27
  And I, I genuinely like believe everything I, I just said like
• 1:27:30
  I, I think bitcoins monetization curves, it's going to be really
• 1:27:33
  volatile. It's going to be very
• 1:27:35
  unpredictable. You're going to see massive
• 1:27:37
  swings. I, I have no idea what to expect
• 1:27:40
  over the next 10 years. I just think that everybody's so
• 1:27:44
  sure that bitcoins, we're going to continue to decrease in
• 1:27:48
  volatility. We're going to see diminishing
• 1:27:50
  returns. It's going to be a very
• 1:27:52
  predictable, stable transition from a Fiat system to a Bitcoin
• 1:27:55
  system. I just think the Max Payne trade
• 1:27:58
  is up forever in a very violent, very aggressive fashion.
• 1:28:02
  And I think hypothetical thought experiments like Sansa Mao's
• 1:28:06
  $1,000,000 Omega candle, like those are going to happen.
• 1:28:09
  But then we're going to see more interesting things.
• 1:28:12
  We're going to see $10 million candles.
• 1:28:14
  We're going to see really wild things and we're going to see
• 1:28:17
  Bitcoin crash by $5,000,000 in a day.
• 1:28:19
  People are going to freak out. It's going to be crazy.
• 1:28:20
  It's going to be volatile. And I just don't think most
• 1:28:24
  people are prepared psychologically for what it
• 1:28:27
  looks like when our species, for the first time ever transitions
• 1:28:32
  from analog stores of value to digital stores of value.
• 1:28:36
  You cannot model this thing. It is impossible, OK?
• 1:28:40
  There's 21 million Bitcoin. We've never seen something with
• 1:28:44
  900 trillion units. That's the world's wealth, $900
• 1:28:48
  trillion of global wealth. Try to squeeze into 21 million
• 1:28:53
  coins or 2.5 million coins on exchanges.
• 1:28:57
  I just think everybody's short up there and I think that's just
• 1:28:59
  what everybody's missing. Wow, bars.
• 1:29:06
  Well, bars, you know, when you think about that last .900
• 1:29:13
  trillion getting squeezed into 21 million coins or even 2.1
• 1:29:18
  trillion SAT, it becomes very manageable for people to
• 1:29:23
  understand how crazy this might get when Bitcoin does start to
• 1:29:28
  get inflated and the price goes absolutely bonkers.
• 1:29:31
  And are we on the verge of seeing that this year?
• 1:29:34
  As a lot of us have been saying for a while, or rather the last
• 1:29:37
  couple of months, it does feel like this is almost playing out
• 1:29:42
  exactly like the 2017 cycle. Obviously, we won't know, and we
• 1:29:46
  won't know until we can look in hindsight what is actually
• 1:29:49
  happening. But I think all of us can agree
• 1:29:52
  that the 2020 cycle was like the Black Swan.
• 1:29:56
  That was the one cycle that we all feel was out of the norm.
• 1:30:01
  And so if Bitcoin does even a Bitcoin does play into
• 1:30:04
  diminishing returns theory, I think the 2021 cycle, 2020-2021
• 1:30:10
  cycle is still an outlier here and it should have probably gone
• 1:30:15
  higher. And so this year, I'm sure we'll
• 1:30:17
  see something very similar. We won't know until it happens.
• 1:30:20
  We won't know until the price starts running.
• 1:30:22
  But I think we can all agree that once Bitcoin actually
• 1:30:25
  breaks 100K, or rather what, 109 K and we are in price discovery
• 1:30:30
  mode, it's going to be very fun again to be a Bitcoiner and
• 1:30:33
  people are going to start freaking out.
• 1:30:35
  So super excited for that. Anyways, Luke, let's do last,
• 1:30:39
  last final thought to wrap up the put a bow tie on this final
• 1:30:42
  thoughts for today's show. And then we'll plug your YouTube
• 1:30:45
  and we'll roll out today's episode.
• 1:30:48
  So, final thoughts, Luke. Yeah, So to to your point, I ran
• 1:30:52
  the maths in a video I did for Simply Bitcoin.
• 1:30:55
  I, I, I, I did a video maybe a year ago, I got posted on simply
• 1:31:00
  and I just ran the maths. I said let's ignore the
• 1:31:02
  2020-2021 cycle. Let's actually have a look at
• 1:31:05
  what we can expect this cycle. So I just used 2013 and 2017 as
• 1:31:09
  a framework. I took the average from both of
• 1:31:11
  those cycles. The average was something like a
• 1:31:14
  65 or A70X from bottom to top. So even if we just repeat what
• 1:31:20
  we did in 2013 and 2017, you're looking at a Bitcoin price tag
• 1:31:25
  above $1,000,000 a coin. And like this is just if Bitcoin
• 1:31:28
  does what it's already done 2 times before.
• 1:31:31
  Ignoring 2020 and 2021 which I think was a stunted bull market
• 1:31:37
  for a ton of different reasons. Again, China ban Bitcoin mining.
• 1:31:40
  The world's richest man did a Bitcoin pivot weeks after China
• 1:31:44
  ban Bitcoin mining. Interesting coincidence if you
• 1:31:47
  want to really start drawing dots between where Elon spends
• 1:31:51
  his time and communicates, I won't get into that rabbit hole
• 1:31:54
  today, but we also saw black rocks spreading the ESG fund,
• 1:31:57
  the World Economic Forum attacking the ESG fund and
• 1:32:01
  Bitcoins, proof of work mining. We saw FTX naked selling 80,000
• 1:32:06
  Bitcoin. And I think we saw all of these
• 1:32:07
  factors kind of coalesce. I think that's the word in this
• 1:32:12
  2021 cycle to really dampen that bull run.
• 1:32:15
  So final thoughts, just if we repeat 20/13/2017, you're
• 1:32:20
  looking at the Bitcoin price above $1,000,000 and I just
• 1:32:22
  don't think most people are mentally prepared for that.
• 1:32:25
  They think this is like a crazy euphoric Omega candle situation.
• 1:32:29
  It's not. This is just what Bitcoin's done
• 1:32:31
  before. So final thoughts, you're not
• 1:32:35
  bullish enough. I think it's as simple as that
• 1:32:36
  of. I knew you were going to say
• 1:32:42
  that before it even came out. Anyways, Luke, plug your socials
• 1:32:45
  real quick for everyone. Guys, go watch Luke's content
• 1:32:50
  again. He is probably the most bullish
• 1:32:54
  person I know. And sometimes we we talk
• 1:32:57
  constantly and sometimes I'm like, Luke, where are you
• 1:33:00
  pulling these numbers from? And he's like, bro, just I got
• 1:33:03
  it. Let me show you the receipts
• 1:33:04
  here. And once Luke starts ranting,
• 1:33:07
  you're like, man, it doesn't even sound that crazy.
• 1:33:11
  These predictions. It's it could very much in fact
• 1:33:15
  be in the cards for this year. So Luke, plug your socials.
• 1:33:18
  Go watch his content, guys. He's killing it.
• 1:33:21
  Thanks for the kind words my man Yeah, I'm just normally pulling
• 1:33:23
  numbers out of my rear end, let's be honest.
• 1:33:26
  Yeah, I talk shit on YouTube a lot, got 2 channels.
• 1:33:30
  I have my personal YouTube channel and then I also make all
• 1:33:32
  the content for thebitcoinnews.com YouTube
• 1:33:34
  channel. So if you want to come tell me
• 1:33:36
  that I'm too bullish, I'm crazy or you even want to tell me that
• 1:33:40
  you want me to shave my lesbian haircut, come and follow those
• 1:33:43
  two YouTube channels and I'm also on Twitter.
• 1:33:45
  So thanks for having me off the always a blast with you and
• 1:33:48
  thanks to everyone tuning in. The live chat always gives me
• 1:33:51
  giggles. I absolutely I love doing live
• 1:33:53
  streams just just for the live chat.
• 1:33:55
  So shout out to everyone in the live chat.
• 1:33:58
  A lot of regulars in there and thanks for continuing to make
• 1:34:02
  our job so much easier, creating live content every day.
• 1:34:06
  It's time consuming, it can be challenging from time to time,
• 1:34:11
  but I always get a kick out of reading the the the comments
• 1:34:14
  when I'm on these live streams. So shout out to everyone in the
• 1:34:17
  live chat. All right, thank you, Luke.
• 1:34:20
  Pull up behind the scenes why I wrap up this show.
• 1:34:24
  All right, guys. Well, we did it again.
• 1:34:28
  This was actually episode 1200. Absolutely insane.
• 1:34:33
  Today's March 11th of the year 2025.
• 1:34:36
  Of course, guys, we'll be here tomorrow.
• 1:34:40
  I know you're yelling at it roughly around 12:15 PM Eastern
• 1:34:44
  Time. We did have a couple issues
• 1:34:46
  today with with Luke's, with Luke's Internet here, but hey,
• 1:34:50
  you know, the show goes on. Anyways, Nico will be back
• 1:34:52
  tomorrow and we'll be back to our regularly scheduled show.
• 1:34:56
  I have been your host, Opti, and I will see you on the flip side.
• 1:35:02
  On that note, guys, make sure you stack some Bitcoin and eat
• 1:35:05
  some good food, touch some grass, all that good stuff.
• 1:35:08
  We'll see you tomorrow. Peace out.
• 1:35:10
  Today's episode was brought to you by bitcoinwell.com, a
• 1:35:14
  Bitcoin only platform on a mission to enable financial
• 1:35:17
  independence.