Latest / Simply Bitcoin / Michael Saylor: Bitcoin to $5 Million is Inevitable | EP 824

Transcript

Michael Saylor: Bitcoin to $5 Million is Inevitable | EP 824 · Simply Bitcoin

0:05
It's. All going to zero against
0:07
Bitcoin. It's going up forever.
0:18
You're against Bitcoin. You're against freedom.
0:25
Yeah. Welcome to some of the Bitcoin
0:27
Live. We're number one source for the
0:28
peaceful Bitcoin revolution. Cover breaking news called
0:30
Dramatic Warfare. We'll be our guide through the
0:31
separation of money in state. Today is September 14th, 2023.
0:37
Another day in Bitcoin. Another day on the Bitcoin
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roller coaster. They don't call the Bitcoin
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roller coaster for no reason. There's ups and downs.
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We hit 25 K we're back to 26,697.
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But if you zoom out. If you zoom out, in the grand
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scheme of things, if you believe in the meme, 21,000,000 divided
0:56
by Infinity or Infinity divided by 21 million, I think it is.
1:01
We all know where early but there's something I want to talk
1:03
about today specifically there was a very famous spaces that
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Michael Saylor did and I think he did it with some some legacy
1:12
media people was a huge spaces and there was three things that
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he said needed to happen in order for Bitcoin to 10X and
1:21
then during that spaces he even said if these thing if these
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three things happen Bitcoin will inevitably hit $5 million per
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coin. Now what were those three
1:33
things? First thing was the changing of
1:37
the Fazbe rules, right, with the accounting, the fair value
1:40
accounting rules and that happened not too long ago.
1:43
We broke the news. I wasn't there.
1:46
I had some swan duties that day, but Opti and I think it was Russ
1:49
and we're holding it down. So we covered that.
1:52
And then number two was large banks, right?
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I'm not talking about like small banks or you know these, these
1:58
Bitcoin crypto focus banks. I'm talking about large banks
2:02
offering institutional custody of of Bitcoin of digital assets
2:09
for their clients. Check that off that's happening.
2:12
You have banks all around the world whether it's Banco
2:15
Santander. The news that came out today,
2:17
which is I wanted to cover this is Deutsche Bank is applying for
2:21
a license to custody digital assets for their customers And
2:27
then and the third thing which has been like the big news of
2:30
this year is the BlackRock spot. Bitcoin ETFI would even, I
2:36
wouldn't even call it the BlackRock, just a Bitcoin spot
2:39
ETF. Those are the three things that
2:41
Michael Saylor said needed to happen in order for Bitcoin to
2:46
just go parabolic into this 5 million, you know, etcetera,
2:51
etcetera. And those things are basically
2:54
already happening like the FASBE check that off, right.
2:57
That was a huge that was a massive deal.
2:59
So check that off the list. That doesn't start, that doesn't
3:03
start going into action until the year 2025 then you have.
3:09
So that's the FASBE ruling then you have banks, large banks,
3:12
custodying Bitcoin. Check that off the list as well.
3:16
Really the only thing out of those three things is the
3:19
BlackRock spot ETF, or sorry, the spot.
3:21
I keep saying BlackRock. Maybe it's a Freudian slip, The
3:24
spot Bitcoin ETF. How long will Gary Genzer be
3:29
able to delay this? He got absolutely hammered in in
3:33
Congress. There was a hearing this week.
3:36
So yeah, I mean, this is pretty crazy.
3:40
And it's really interesting if you've been here for a while,
3:42
you know, Opti and I are class of, I'm class of 2016, Opti is
3:45
class of 2017. But it's the same epoch really.
3:49
You know, one of the narratives that existed when Bitcoin was
3:53
falling, you know, it fell from 20K back down to 3K.
3:57
And one of the coping narratives all the way down was the
4:00
institutions are coming, the institutions are coming, the
4:01
institutions are coming. I think you could say without a
4:04
doubt that the institutions are here.
4:08
You can't deny that. Now The thing is, do the
4:12
institutions have the necessary infrastructure to on board onto
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Bitcoin And I think that's an open question.
4:19
But you can't deny that the institutions want exposure to
4:23
Bitcoin. That's undeniable, right?
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We broke the news the other day that BlackRock had a lot of
4:28
micro strategy, had a lot of exposure to public to publicly
4:32
traded Bitcoin mining companies as well, right.
4:35
So it's some very interesting stuff.
4:37
Now here's the thing though, right?
4:39
So yes, his number go up. Whoopty Doo.
4:42
But remember the revolution is individuals taking back
4:46
financial sovereignty by taking Bitcoin into self custody.
4:50
So just because you're buying a Bitcoin spot ETF or black Rocks
4:55
Bitcoin spot ETF through Charles Schwab or Robin Hood or whatnot,
5:00
that that isn't real Bitcoin. That's paper Bitcoin.
5:03
That's an IOU. The only way that you get true
5:06
real Bitcoin is by, you know, buying Bitcoin, earning Bitcoin,
5:10
mining Bitcoin, and taking that said Bitcoin into cold storage,
5:14
right? And then preferably, the step
5:17
after that is stop trusting someone else's copy of the
5:21
blockchain. Run your own Bitcoin.
5:23
Softer, Run your own node. The one I recommend personally
5:26
because it's the one I use, is Start 9.
5:29
They're freaking awesome so definitely check them out if
5:32
you're interested in in running a Bitcoin node.
5:34
But yeah, it's a very interesting times that we're
5:38
living in but you know I don't think I've ever been so bullish.
5:41
How you doing Opti? And we're in the the simply
5:44
Bitcoin merch today bro you're you're modeling.
5:46
I love it. Yeah, yeah, it's it's raining
5:48
right now. It's it's officially hoodie
5:50
season. So you're raining, but you're
5:52
inside. Yeah, whatever.
5:53
I feel like wearing a hoodie today.
5:54
If it's nice, it's comfy. I'm wearing this all the time.
5:58
Get yourself one at simplybitcoin.com.
6:01
Yeah, man, it's hey. Let let your boy live for once.
6:07
Yeah, Crazy. You're not in uniform, bro.
6:09
You. You went from collared shirts to
6:12
hoodies. What happened?
6:13
You're regressing. Well, suits coming soon.
6:17
I had a conversation with Chris yesterday.
6:19
Are we are we wearing suits? I I need to get.
6:23
I missed that episode, man. I love Chris.
6:25
Shout out Bitcoin. Shout out our boys over a
6:27
Bitcoin mag. But yeah, crazy, crazy
6:31
developments. And and we really talked about
6:33
it yesterday as well, pretty pretty extensively on the show
6:36
of how it is undeniable that the institutions want your Bitcoin.
6:40
There is so much institutional investment and there's just so
6:43
much capital waiting on the sidelines for everyone for to to
6:48
get assured into Bitcoin. You know, like.
6:51
All the biggest asset managers, well, not all of them, but many
6:54
of the big asset managers of the world are looking to get
6:58
exposure to Bitcoin. We're seeing huge banks do the
7:02
same thing. And it just goes to show you
7:04
that you guys are early and we are on the precipice of an
7:08
amazing bull run as far as I'm concerned and now is the time to
7:12
be stacking sats. It's still what, 26 K so like.
7:16
We got the best opportunity ever and I know everyone is losing
7:19
their mind because this bear market's been so long but this
7:22
is where legends are made anyways on today's culture.
7:27
I saw this a couple tweets from Tom Luongo and and if you guys
7:32
aren't familiar with him, he's a great I guess you call him like
7:36
geopolitical analyst. He he is kind of Loki a gold bug
7:39
and I know he's kind of maybe loosely.
7:42
Understands Bitcoin. But he created this meme and and
7:45
I really wanted to touch on it today because it kind of changed
7:49
my views on what we've been talking about.
7:51
We're always talking about, you know, the normies out there or
7:54
in the not so nice way, you know, the sheeple out there.
7:57
And he coined this new phrase about like the masses are are.
8:03
Are comfortable wolves and I I really want to cover this
8:06
because I think it does change the framing and it's a little
8:10
more positive view on what's going on in the world.
8:12
And we talk about it constantly that people need to feel pain
8:15
and once they feel that pain and they wake up man shit's going to
8:17
get really crazy and it really does feel like this is where we
8:20
are right now. So you know just prepare
8:23
yourself it's it's you know are we on the precipice of a global
8:26
recession? Who knows?
8:28
Are we? You know, Are we currently in a
8:30
depression? I don't know the official
8:32
numbers are lying to us, but we know that the inflation is
8:35
higher than they want and your purchasing power is going down
8:38
the drain. And I have these conversations
8:40
with a bunch of my Bitcoin friends and we're all feeling
8:42
the same thing. It's like, man, dude, things are
8:44
getting more expensive and it's only a matter of time until
8:46
people start to ask what the hell is going on right now.
8:50
And This is why we keep planting the seeds here on the show, you
8:54
know, in personal conversations with people in real life.
8:57
And it's like we have built. A foundation for people to
9:01
protect themselves, to get on the exit boat, Get on the safety
9:04
net, which is Bitcoin. So get on the Bitcoin standard
9:06
guys. Get on the Bitcoin standard.
9:08
That's right. Just get on the Bitcoin
9:09
standard. Get on the life raft.
9:11
And you know you'd be watching the world around you doing its
9:15
thing. But you know that your future,
9:18
your family's future, your wealth, your time, your energy,
9:20
your work is protected by the largest decentralized computing
9:25
network in the. Sorry, I'm laughing at the chat.
9:27
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9:30
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At the time of recording the Bitcoin price is 26,640 sats per
11:00
dollar 3754 block height 808 hundred and 7650 blocks to
11:08
having 32,350 having estimate April 22nd, 2024 Total lightning
11:14
network capacity 4776 Bitcoin capacity value 127 million U.S.
11:22
dollars. Realize monetary inflation
11:25
1.75%. The market capitalization of
11:29
Bitcoin $519 billion with a B Bitcoin versus gold market cap
11:37
4.07%. Very very very nice.
11:41
All right. Good numbers overall.
11:42
You know, I love my favorites. That I always tell you guys,
11:45
this is the realized monetary inflation of Bitcoin 1.75%.
11:50
That number is going to continue to go down forever.
11:54
So it continues to take Fiat currencies to absolute school.
11:58
Even if they get it to their targeted Holy Grail 2%
12:01
inflation, you know it's not even going to come close.
12:05
Anyways, I do have some. My favorite number is Block High
12:08
cuz that number is going up forever.
12:09
Laura, that that that number just it just makes an all time
12:13
high every 10 minutes, no matter.
12:14
What next block? It's almost like pre coined next
12:17
block. Anyways, here's a clip.
12:19
I have two clips for you guys. Here's a clip from SEC chair
12:22
chair Gary Genzer and he said some interesting things at the
12:26
hearing. We're going to play you some
12:28
clips of this hearing as the days go by though, so let's
12:30
check out this clip and I have another one.
12:33
Then we'll talk about it and help protect Americans from the
12:35
crypto abuses that cost consumers billions.
12:40
If they were to live up to the investor protection built into
12:43
their current laws, it would help investors.
12:46
But right now unfortunately there's significant non
12:49
compliance and it's a field which is rife with fraud, abuse
12:54
and misconduct and help protect Americans from the.
12:58
So I I, I I want to two things right.
13:02
I agree in a way and I agree in the sense that it is full of
13:07
fraud, it is full of abuse, it is full of misconduct.
13:12
Now the initial part and help protect Americans from the
13:16
crypto abuses that cost consumers billions.
13:21
I'm going to reframes that right from the crypto abuse that cost
13:25
consumers billions. Fine.
13:27
You could say shit coins, you could say this.
13:29
What about from the governmental inflationary abuse that cost
13:35
people all around the world millions if not billions of
13:39
dollars? Why is that?
13:41
Never talked about? And that brings me to one of
13:46
Tucker's episodes that he did in Argentina.
13:49
He did an episode about a 10 minute episode covering what's
13:52
happening in Argentina. He's going to cover, he's going
13:54
to interview Javier Meli. Javier Meli is, he is.
13:59
He's a hardcore Austrian economist, libertarian.
14:03
He wants to end the central bank, you know, he wants to cut
14:06
down on the administrative state, all of that stuff, He
14:09
said some pretty crazy stuff. Not going to lie.
14:12
Tucker's going to interview him tomorrow.
14:13
But what was really interesting about Tucker's opening
14:16
monologue, which we're going to cover extensively tomorrow, is
14:22
he said, the quiet part out loud, that invade and inflation
14:25
is theft. Politicians aren't productive.
14:29
The way that they raise money is through direct taxation.
14:32
But they could only do that for so long until people revolt.
14:36
So they do that through the hidden tax of inflation.
14:39
We must continue to chip away at this right?
14:43
Like, you know, peacefully, of course, but chip, chip away at
14:47
this move the Overton window. Start, get, start getting people
14:53
to ask the question, what is money?
14:55
Why does my money lose purchasing power?
14:58
Is it necessary for my money to lose purchasing power?
15:02
That's when people are going to start asking really big
15:04
questions. And remember, they do not have a
15:07
response to this anyways. Talking about shifting the
15:10
Overton window, Here's Joe Squawk.
15:13
Five years ago you would have never have believed this.
15:17
We did have a a bitcoiner who was a writer for Forbes and he
15:21
got a bit upset when I said that the legacy corporate media
15:25
change their tune because of the BlackRock Spot ETF.
15:29
And he said no, that's not true. I was working at Forbes from
15:31
before Okay. I I take his word for it, he's a
15:33
bitcoiner, I believe him. But the legacy corporate media,
15:38
you know, mainstream news, cable news, are you trying to tell me
15:43
that the interest from BlackRock to launch a spot ETF has not
15:47
influenced their change of tune whatsoever?
15:51
I don't know about that. Anyways, here's Joe Squawk.
15:53
It's about a one minute clip and then we'll talk about it and
15:56
move on to crypto. If you'd indulge me for a
15:57
second, because we always have these crypto conversations and
16:01
there seems to be this thing happening.
16:03
I don't know if Joe, we were talking about $25,000 with
16:06
Bitcoin. Meanwhile, BlackRock and all
16:08
these folks, all the folks that we thought were never going to
16:11
do this, are now doing it. And yet it's not moving at all
16:14
well. It's moving today.
16:16
Well, I mean, sure, 26. This is 26.
16:20
It was 4 when when we started saying it wasn't going anywhere.
16:25
4000 Oh well OK, but so but the question is, is this now a risk
16:30
on a risk off thing? What do you, how do you even
16:33
correlate this to what's happening with the Fed?
16:34
Because for a long time you used to talk about crypto in regard
16:37
to the Fed. So, so I think crypto settling
16:40
as part of the ecosystem. I think people have recognized
16:43
it is not the new global currency.
16:45
People have also recognized it's not going to disappear tomorrow.
16:47
It's becoming institutionalized. And I think actually if I were a
16:52
crypto person, I think this maturation process is a good.
16:55
Thing where it moves from day-to-day is I can't really
17:00
comment on. That I still think it's
17:01
outperformed every asset in one year, five year and 10 year.
17:10
I mean, I I think, I think he's pretty jaded a little bit,
17:13
right? Like, you know it's it's going
17:15
to zero at 4000. And mind you like Pete Rosa does
17:19
a great job doing this, but like he goes back in time and finds
17:23
like original posts of people, which is why it's so important
17:26
to zoom out when in doubt of people posting a Bitcoin isn't
17:30
going anywhere. And Bitcoin was at like $100,
17:33
Bitcoin was at like $200.00 at the time, right.
17:36
So like when in doubt, zoom out. Obviously Joe's completely
17:40
converted. He's like, why have we been
17:42
talking about the short term volatility When we started, when
17:45
we started covering this, it was literally at $4000.
17:49
It's at 26,000 at the at the, you know, depths of of bear
17:53
market. He gets it.
17:55
I mean, and this is actually one of the things that has helped
17:59
me, orange pill as many people as possible.
18:03
It hasn't been me saying that bitcoins better money.
18:07
It hasn't been me saying like, oh look, you know, separate
18:11
money from state hasn't been me saying, you know, it's a
18:14
deflationary currency, blah, blah, blah, blah, blah, blah.
18:17
You know, what's been the biggest converter of people?
18:20
You plant the seed, you say Bitcoin, right?
18:23
They ignore you for like a couple of years and two, three
18:26
years later pass number goes up and all of a sudden you get that
18:30
text from that friend that you haven't talked to in a long time
18:33
and he's like, hey, about that Bitcoin thing.
18:36
NGU is the biggest converter of people.
18:39
It is the biggest orange pillar in my opinion is the most
18:43
effective way. And clearly you could see that
18:44
with Joe, right? He was like, yeah, I mean we
18:48
start covering this was at 4K. I don't know what you're talking
18:50
about. The short term volatility.
18:52
What the Hell's wrong with you anyways?
18:54
Why are you pulling that up, Opti?
18:56
Oh, it's from wine. It's from wine.
19:01
Oh man. Anyways, wine.
19:02
What's wine? Just called you wine.
19:04
What's your mouth? You know of all the disgrace
19:06
you've ever done and all the trolling, calling me wine might
19:10
be the worst. No, I'm just trolling.
19:11
Love you wine. Anyways, first and foremost.
19:14
You know, shout out the joke, Kernan.
19:16
Absolutely love to see him just constantly battle the corporate
19:20
BS FUD around Bitcoin. And and I say this all the time,
19:24
you know, like, number go up, love it or hate it.
19:27
Is the fundamental thing driving all of Bitcoin adoption.
19:30
There's that and then on the negative side, all of the crazy
19:33
stuff coming out from, you know, the bureaucrats out there, we we
19:36
covered the G20 stuff where they're trying to roll out a
19:39
digital IDCBDC, central bank, digital control mechanisms.
19:44
And these two things together are in my opinion the driving
19:48
forces for Bitcoin adoption. It's like you, we say it all the
19:51
time and and the memes been catching on me because I don't
19:54
know if you've been seeing it on Twitter, but Bitcoin or slavery?
19:57
It's starting to catch on and people are starting to notice
20:00
that it's not even hyperbolic anymore.
20:03
But anyways, starting with the first video, I totally agree
20:07
with that congressman or whatever.
20:10
Like crypto is full of fraud. Like 100% agree.
20:13
Hence why we're Bitcoin only. Like there's Bitcoin and there's
20:16
shit Coin and it it triggered the thought in my mind about I I
20:22
think I brought it up last week. It was the idea, I forget what
20:26
video it was, but we played something on in the numbers
20:29
about the the scene versus the unseen consequences of economics
20:33
and it's very clearly visible, the scene consequences of crypto
20:37
scams and very easily noticed and you know, it's always rolled
20:41
out as like the detriment to the whole Bitcoin industry and those
20:45
are the scene consequences. Obviously there's been a lot of
20:48
people getting rug pulled, getting, you know, losing their
20:51
their life savings because of shit coin scams.
20:53
And so it's very easily an emotional thing you can roll
20:58
out. So people are like, ah, let's
20:59
protect the little guy. But as we've going to cover, and
21:03
I and I really thought you were going to play that Tucker
21:05
Carlson video that you put on your Twitter.
21:07
I'm. I'm dude.
21:08
I mean, so I was divided. I was divided about what?
21:11
I wanted to make the show. No worries.
21:13
I was like, I was like, okay, are we going to make it about
21:15
Tucker? Are we going to make this about
21:17
the sailor? I think the sailor thing I was,
21:20
I was much more excited about the sailor thing.
21:22
Little little thing came. Around in my head, I'm like,
21:25
holy cow, the three things that Michael Saylor said needed to
21:29
happen for Bitcoin to hit 5 million.
21:32
All of those things have happened.
21:33
They've all happened, right. So I was like, we have to cover
21:36
this. We will cover Tucker.
21:38
Tomorrow is really actually made a thumbnail for Tucker and
21:41
everything. It was really good.
21:42
But I guess, I guess you know we'll put we'll put a pin on
21:46
that thought. But tomorrow, remember, we're
21:48
going to be talking about the unseen consequences of money
21:50
printing. And that always gets obfuscated,
21:53
always gets lost on people because it's not like a linear
21:56
connection, you know, like you, you gotta, you know, there's
21:59
some nuance to this and most people can't think past like 20
22:02
seconds, you know, ADHD or whatever.
22:04
Like we're all being inundated with so much dopamine from from
22:08
social media that we either tune out or it just like it doesn't
22:11
seem like it's important. And and I can see people in the
22:14
chat saying the same thing that we always hear is like once you
22:17
start talking about Bitcoin, once you say the B word, people
22:20
instantly tune out and it's only a matter of time until people
22:23
wake up to what's going on here. So you know, plant those Bitcoin
22:28
fundamentals into people's minds without using the B word usually
22:31
helps and and goes a long way. And then you find like, hey, you
22:35
know, have you heard about Bitcoin?
22:37
Here's the pill, take it. But yeah, man, it just it just
22:41
goes to show that the world is waking up and every metric that
22:45
I'm seeing is pointing towards the fact that I think in 2025
22:50
more people are going to wake up to the scam that is Fiat and of
22:55
course the safety boat that is Bitcoin.
22:57
And hey, we're here for it. So I'm, I am super excited.
23:02
And yes, yes, hold on, hold on Arthur.
23:03
You can buy our Merge with Bitcoin if you so want to.
23:09
Yeah, exactly. Go and go click scan the QR
23:12
code. It will take you directly to the
23:13
website and you could you could pay you paying Bitcoin.
23:17
I think, I think wine set up the lightning.
23:20
Yeah, yeah, yeah, we we got you we got you guys back.
23:22
We got you guys back Rep some simply Bitcoin merge.
23:25
Anyways, so yeah man, it's really really exciting stuff.
23:30
All right guys, let's jump into the news.
23:31
We got a lot to cover today before we get into news.
23:34
Actually right now we are currently sitting pretty at 70
23:39
likes. Help us maintain our streak.
23:42
Let's break 100 likes within the out first hour of.
23:47
The live stream. So if you're enjoying the show,
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make sure to smash that like button.
23:50
Smash Smash Smash smash Wait, wait, wait.
23:53
Can we do a legacy smash the like button, Nico?
23:56
What's that? Remember what we're using?
24:00
Smash the like button. Something like that.
24:02
Anyways guys, let's get to the news, the Daily News.
24:09
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Take your Bitcoin into self custody anyways.
25:26
The moment you guys have all been waiting for.
25:28
This is a Twitter space, as Michael Saylor did a while ago.
25:32
And like I said, he said three things 1233 things needed to
25:38
happen in order for Bitcoin to hit 5 million.
25:42
Ladies and gentlemen, those three things have happened.
25:45
Enough of me. Let's hear from the Chad Saylor
25:48
himself and then I'll break it down And and you think the
25:52
catalyst that 10X is, it really is.
25:55
The the moment that JP Morgan Chase or or or other big money
25:59
center banks can custody these for large corporates, that's it.
26:02
That's the sea change because there's really no reason why
26:05
they shouldn't be diversifying the assets on their balance
26:08
sheet. Is that, is that your take?
26:09
Because I know that, like Tim Cook, I don't know where it came
26:11
from earlier this week, he said. Something like, ah, I own some
26:13
Bitcoin but we have no designs on anything or I don't know if
26:17
you said Bitcoin or crypto in general is that the thing?
26:19
And then and then the I think there's.
26:22
Look, first of all it's going up by a factor of 10 whether they
26:25
fix any of the stuff, right? It's going to go a lot.
26:28
It's going to be a grind up by a factor of 10 just because gold
26:32
is broken and the coins going to replace gold.
26:35
And now everybody in the universe knows they need a non
26:39
solver and store a value in the form of a bearer instrument.
26:42
So now they're looking the the amount of stories for last year.
26:47
People said inflation may be coming.
26:49
We're not sure. Now the mainstream narrative is
26:52
flipped to inflation is here. You need inflation hedge.
26:55
So it's going to grind up to replace gold.
26:58
It'll go to $500,000 a coin regardless of why they fix these
27:01
things. But there are three things that
27:03
are massive catalysts that cause an acceleration.
27:07
And I don't think that those three things don't take us to
27:11
500,000, they take us to 5 million a coin, right?
27:15
Those three things are. A spot ETF where someone can go
27:20
ahead and buy $100 million of Bitcoin via security and ETF
27:24
security. I think that's 1/2 is your bank
27:28
is going to custody it for you and lend against it.
27:32
And three is I can mark it up or mark it down on my balance sheet
27:38
based on fair value para pursue that.
27:41
It'll be para pursuit to the way I'd handle Apple stock, or at
27:45
least that good. If it's if you have property
27:49
with fair value accounting by the way, it becomes parapasu to
27:54
the way you'd handle treasury bonds on a treasury balance
27:58
sheet. Treasuries are better than
28:00
stocks because treasury is property whereas the stock is a
28:04
security and you're capped out at 40% of your balance sheet is
28:08
security. So.
28:09
So it would be a major, major breakthrough if if you saw any
28:15
of those three things. And I'll end with this one
28:18
observation. I tweeted this last week, but I
28:20
still I think it's very powerful.
28:22
It's if the banks can hold this stuff on their balance sheet,
28:26
then a whole new class of investors are going to buy it.
28:30
People are going to put in billion and multibillion dollar
28:33
orders to buy it as a Treasury asset.
28:36
Nobody's going to sell it because because there's no
28:38
reason to sell it if you can borrow against it at Libor plus
28:42
Art Sofer plus 50 basis points. Right.
28:47
So you'll be, you'll be barring against Bitcoin.
28:49
It's so for plus 50 or so, for plus 100 basis points, no one's
28:53
ever gonna sell it. And then as I joked, you won't
28:56
be able to afford it. I mean, you will be able to
28:58
afford it. But you know, everybody gets
28:59
Bitcoin at the price they deserve.
29:02
Boom. Chad Sealer coming in strong.
29:06
I mean if that is not a better, you know, argument.
29:09
As to why, you should literally pause the show right now.
29:13
Stop what you're doing, stack some Sats.
29:15
I don't know what is. Absolutely nailed it.
29:19
The Fast B ruling was massive. So let's get into those three
29:22
things. Let's break it down one by one.
29:24
We connect the dots and simply Bitcoin.
29:26
You guys know the deal, so the Fast B ruling was absolutely
29:29
massive. Is this something that we
29:30
covered on Simply Bitcoin last week?
29:34
So fast B votes in favor of Fair value accounting for Bitcoin.
29:38
In a long anticipated anticipated move, Bloomberg Tax
29:42
reported the Financial Act Accounting Standards Boards is
29:45
set to introduce new fair value accounting rules for Bitcoin and
29:49
other cryptocurrencies. These new rules aim to provide a
29:52
more accurate reflection of the market value of digital assets
29:56
and bring greater transparency to the financial reporting of
30:00
companies that hold cryptocurrencies.
30:02
The rules, expected to be published by the end of the
30:05
year, are set to go into effect as soon as 2025, but companies
30:08
will be able to apply them earlier than that, the report
30:10
said. For years, the valuation of
30:12
cryptocurrencies like Bitcoin has been a challenging aspect of
30:15
financial reporting for companies.
30:17
The volatile nature of these digital assets have made it
30:19
difficult to accurately assess their fair market value under
30:23
the current accounting standards.
30:25
Companies often struggle to present a true picture of their
30:29
financial health. Has the value of Bitcoin and
30:32
cryptocurrencies fluctuate wildly?
30:35
The Fasby's move to introduce fair value accounting rules will
30:38
require companies to regularly assess the fair market value of
30:41
the digital assets and report any fluctuations in value in
30:45
value as part of their financial statements.
30:47
This means that if the price of Bitcoin surges or plummets,
30:50
companies will have to reflect these changes in their financial
30:52
reports, providing stakeholders with a more accurate picture of
30:57
their financial position. So that's number one.
31:01
That is number one. That's that's number one that
31:03
Michael Sailor said, let's move on to #2.
31:06
Actually, I think number number number one was the spot Bitcoin
31:10
ETF. But whatever, we're changing the
31:11
order, it's Okay #2A, spot Bitcoin ETF.
31:16
The one that I am the most optimistic about is the
31:20
BlackRock spot ETF. BlackRock is the largest asset
31:23
manager in the world. They have trillions upon
31:26
trillions of dollars assets under management.
31:29
They have a tremendous amount of political influence.
31:32
So out of all the spot Bitcoin ETF's, I think that this one is
31:37
the one that I'm most optimistic about.
31:39
And remember, guys, it isn't just the spot Bitcoin ETF news
31:43
that broke You have to connect the dots with the grayscale
31:47
lawsuit that the government lost against grayscale, right.
31:51
All kind of headed in the in in in the right direction for this
31:56
inevitably to be approved. We know there's a spot Bitcoin
31:59
ETF approved in Canada. It's already up and running.
32:01
One got approved in Europe. How long until you know it gets
32:06
approved in the United States? Now this is something that I
32:08
asked Parker Lewis when he came on Simply Bitcoin IRL.
32:11
Definitely check out that episode if you believed it was
32:13
politically motivated. And if my memory serves me
32:17
correctly. He said yes, I would agree to
32:19
that statement as well. We know about Operation Choke
32:22
Point 2.0. Caitlin Long came on the show to
32:26
talk about, you know, Custodia Bank and how it was unfairly
32:29
treated and it didn't receive the federal banking Charter.
32:34
She said it not. This is not coming from my
32:36
mouth. It came from Caitlin Long's
32:38
mouth herself, she said. That she believes that it came
32:41
directly from the White House to deny her a federal banking
32:45
charter. And what's really interesting is
32:47
that when she got denied a couple months later, the
32:50
American version of a central bank digital currency, the Fed,
32:53
now, was launched. Right.
32:55
So a lot of coincidences. Anyways, so how a Bitcoin ETF
33:00
$30 trillion in new capital will impact the Bitcoin price.
33:05
So this article does a great job at kind of breaking it down,
33:08
what it could mean. But without a doubt, I think
33:10
Michael Saylor is right. I think that once you make it
33:13
easy to, you know, get exposure to Bitcoin without, you know,
33:17
going through the process of, you know, which is so crazy to
33:20
me about the fact that I'm about to say this, but whatever.
33:25
It's still crazy to me that like you can't just buy Bitcoin,
33:28
These companies just can't buy Bitcoin and take it into self
33:30
custody. But I get them, I I get it
33:32
right? Like you know, there's a lot of
33:34
do they have the infrastructure to do that.
33:37
You know, you obviously have to use multi cig, whatever.
33:39
A lot of people just feel comfortable outsourcing that.
33:42
Obviously we can't recommend that.
33:44
We actually recommend you to strictly take self custody of
33:47
your Bitcoin, whatever which way you decide to acquire it.
33:51
Obviously we recommend SWAN, you know, take that said Bitcoin
33:54
into self custody. But still, I think the BlackRock
33:57
ETF could, you know, meaningfully impact the price.
34:02
Now 2 two schools of thought on this, Greg Foss and James
34:07
Lavish, which we had on the IRL, they said, yes, this is going to
34:10
be very, very beneficial for the price because it's a spot ETF.
34:14
They're not going to be able to rehypothecate it.
34:16
Now on the other side of the argument, Lawrence Lapard and
34:19
Caitlin Long said. Rehypothecation,
34:21
rehypothecation, rehypothecation.
34:23
Right. So I think a spot Bitcoin ETF is
34:26
a double edged sword, definitely.
34:27
I I could definitely foresee it, you know, causing some type of
34:31
downward pressure if there is rehypothecation.
34:34
I mean they did the same thing with gold.
34:37
What makes you think that they wouldn't try to do the same
34:39
thing with Bitcoin? That's my take on that.
34:41
And then last but not least is banks, right?
34:45
Banks having the ability to take custody of you know of of
34:49
digital assets for their clients.
34:52
This is another massive bank that that Deutsche Bank to hold
34:58
one of the largest banks in the world.
35:00
This just dropped from Reuters an article today Deutsche Bank
35:03
to hold crypto for institutional clients.
35:06
Deutsche Bank has partnered with Swiss crypto firm Tara's to
35:09
provide custody services for institutional clients, crypto
35:12
currencies and tokenized assets, Tara said in a statement on
35:16
Thursday. The partnership means Deutsche
35:18
Bank will for the first time be able to hold a limited number of
35:22
crypto currencies for its clients, as well as tokenized
35:25
versions of traditional financial assets.
35:28
A Deutsche Bank spokesperson said.
35:31
But it isn't. Also, it isn't only Deutsche
35:33
Bank, there's a lot of other banks that did this as well.
35:35
I'm just going to mention this one because there's a large bank
35:39
in the United States and this actually was announced October
35:43
11th of last year. Beyond BNY Mellon today
35:46
announced that it's digital asset custody platform.
35:50
Is live in the US with select clients now able to hold and
35:54
transfer Bitcoin and ether. This milestone reinforces Beyond
35:59
B and Wise Melon commitment to support client demand for a
36:03
trusted provider of both traditional and digital asset
36:07
servicing. So the three things that Michael
36:10
Saylor said needed to happen for Bitcoin to hit $5,000,000, all
36:14
of those things. Check them off.
36:16
The only thing you could not say.
36:18
Has not happened yet. Is the spot Bitcoin ETF.
36:22
But how long will Gary Genzer be able to hold that?
36:25
Damn right. How, like how long will he be
36:27
able to delay it? There's a lot of pressure.
36:30
There's lawsuits going. He got absolutely massacred
36:33
grilled in in Congress about this.
36:36
So you know, do I can't say for a for certain that it's
36:41
politically motivated? I cannot say that for certain,
36:45
but. I'll just say this lots of
36:48
coincidences. It has me suspicious.
36:51
And you know what I said in the very beginning of the show?
36:55
The biggest converter. The converter to make people
37:00
bitcoiners, to make people believe in Bitcoin.
37:02
It's not. It's not the memes, it's not the
37:06
content. It's not and not to bash on the
37:09
content. You know, the the all the
37:10
articles and books that all these awesome, amazing
37:13
bitcoiners have written, all the video console, the digital
37:16
content that have made, right? It's not to say that it doesn't
37:20
move the needle, but what really, really moves the needle
37:23
is NGU number go up. And here's the thing.
37:28
As soon as the spot Bitcoin ETF gets approved in the United
37:32
States, you can make a pretty sure bet.
37:35
That number go up is gonna do what number go up does.
37:39
And I'm gonna kind of connect this with.
37:41
And of course, anyone who's not a fan of Bitcoin, and there's a
37:45
lot of people that are not a fan of Bitcoin in the current
37:47
administration, look at the wording that came out of the
37:50
presidential economic report they bashed on.
37:54
On a non states money they they made the case as to why central
37:58
banking was necessary and they made the case for the necessity
38:03
of central bank digital currencies.
38:04
The US Treasury released a paper late last year called The Future
38:09
of Money and Pay Payments in that entire paper, literally
38:12
called The Future of Money. They did not mention Bitcoin as
38:17
the future of money. They mentioned payment
38:19
platforms, they mentioned stable coins, and they mentioned
38:22
central bank digital currencies. So is it too much?
38:26
It's too, is it too much to say? Is it is it a stretch too far to
38:30
say that perhaps the delay by the SEC to approve a spot
38:36
Bitcoin ETF is not politically motivated?
38:39
I don't know. I don't know.
38:41
I can't say it but from from our angle maybe we maybe it's
38:45
because we cover this every single day.
38:48
Could be. So one last thing one last
38:50
thought I want to leave with you guys Last Bitcoin bull market
38:55
2020-2021 it was it was going nuts.
39:00
I I I truly believe you were going to hit 100K.
39:02
In fact, I think we should have hit 100K Bitcoin but in the
39:06
middle of that bull market. You know what happened?
39:09
There was a state attack. You know what the state attack
39:12
was on? I believe it was an attack on
39:15
the price. What happened?
39:17
The CCP, the Chinese Communist Party, bans Bitcoin miners
39:22
within China. The hash rate plummeted.
39:26
The plummeted. It plummeted the Bitcoin hash
39:28
rate as miners went offline. And you know what also plummeted
39:33
with the hash rate? The price of Bitcoin.
39:35
Why? Because a lot of those miners
39:37
needed to sell Bitcoin in order to relocate to a more favorable
39:43
jurisdiction. I truly believe that was the
39:46
main reason. And I know it's very I know a
39:49
lot of people disagree with me, but I'm literally, I'm telling
39:52
you, don't take my word for it. Look at actually Opti.
39:55
Why don't you pull it up while while I continue talking about
39:57
it, if you look at the Bitcoin hash rate.
40:01
And the price of Bitcoin, when that went down, there's a direct
40:05
correlation between the hash rate plummeting and the price of
40:09
Bitcoin. And I really believe that cut
40:13
the last bull market short. It took the momentum out of the
40:17
bull market. It was still able to make it
40:20
kind of creep up to all time highs.
40:22
But you'll see that momentum like it's it's almost like it
40:26
was chopped at the knees and and you could almost say, right,
40:28
it's another big coincidence. It's another big coincidence
40:32
because who benefits? Who benefits from Bitcoin not
40:37
reaching 100K120K. You know who benefits?
40:40
The people that are pushing central bank digital currencies.
40:45
So just my two cents there. Let's pull up this.
40:48
Thank you Opti. I appreciate it.
40:52
So if we pull this up, Opti, could you zoom in a little bit,
40:55
this drag and drop between the. Yeah, there we go, awesome.
41:00
Yeah, perfect. All right, so if you take a
41:03
look, guys, the one is the hash rate.
41:07
And I believe the hash rate is the darker blue and the price is
41:10
the lighter blue. If you take a look at literally
41:13
the price falling off the Cliff, take a look at what the hash
41:16
rate was doing. Around the same time take a look
41:21
at what the hash rate was doing, what the price was doing.
41:24
That was downward pressure from minors.
41:27
Remember at the time mine China had the vast majority of Bitcoin
41:31
miners. That is downward pressure for
41:32
minors trying to relocate overseas in a more favorable
41:37
jurisdiction. Now Bitcoin won that battle.
41:41
It won that battle with flying colors.
41:43
Got an A. But you know, I I I truly
41:46
believe, man don't. And I and I posted a I posted a
41:51
a clip with Lawrence Lapard this morning.
41:54
Do not underestimate how far you know certain people, The party
41:59
of Green, to put it nicely, will go to maintain their privilege
42:05
of being able to create money for free that everyone else has
42:08
to work for that is a godlike privilege.
42:11
Being able to counterfeit money, being able to create money out
42:14
of thin air. What bitcoiners are advocating
42:17
for is an equal system where no matter who you are, whether
42:22
you're the president's emperor, king, God, king, whatever, if
42:25
you want to make more Bitcoin, you have to spend on
42:29
infrastructure to mindset Bitcoin.
42:32
You have to buy it or you have to earn it.
42:34
There is no easy way around it. There's no easy.
42:37
You can't just create more of it.
42:39
And that I think that itself, that fundamental idea will will
42:44
fix the world. And that's how we get back to A
42:47
to a sound money standard. Anyways, Opti, what's your take
42:50
on all this, bro? Do you agree with Michael Saylor
42:53
and his take that those are the three things that are going to
42:56
take Bitcoin to 5 million US? I mean, I don't have the
42:59
insights that Sailor does. So, you know, I I'm just an
43:03
average bitcoiner that wants to stack Bitcoin and opt out of the
43:06
madness. But it really goes to show.
43:10
And it's something we've been talking about this bear market.
43:12
I I think even yellow was quote tweeting me as saying this is
43:15
the most bullish bear market yet.
43:17
And it just, it's that one quote.
43:20
What's the quote like? Sometimes decades happen in
43:23
weeks and sometimes, you know, nothing happens in decades or
43:27
whatever, you guys know the meme.
43:28
Anyways, it just goes to show how quickly things are moving.
43:31
You know when we covered the news about the Fazbee ruling
43:34
last week? We, you know, we knew that there
43:37
were some banks that were interested in custody Bitcoin
43:41
and now we are seeing the dominoes start to fall very
43:44
quickly and I think people underestimate how strong the
43:48
incentive structures of Bitcoin are and we have to remember that
43:52
if you are an asset manager right now, if you're holding.
43:55
Anything in the traditional financial system and you're
43:58
looking at the landscape, you are looking for a safety boat.
44:02
You're looking for something that you can hold that is either
44:05
going to make you profit or alternatively like Bitcoin
44:09
outside of the traditional financial world so that you
44:11
don't get absolutely wrecked. And so, you know, there is smart
44:15
people out there. You can't just.
44:17
Discount everyone and say that, oh, they're stupid because
44:20
they're part of the financial, the traditional financial world.
44:22
Like, they know what they're doing, they know what they're
44:24
holding, and they're just hoping that they can basically play
44:27
musical chairs long enough. And so if you are looking at the
44:30
landscape, you are starting to understand the same thing that
44:34
we talked about constantly, like oh wait, Bitcoin isn't going
44:37
away. Oh wait, Bitcoin isn't dying.
44:40
You know, as much as the corporate BS can come out and
44:42
say, like, write a new Bitcoin obituary.
44:45
TikTok Next Blog Bitcoins never been stronger.
44:48
There's never been as much mind share in regards to Bitcoin and
44:51
so people are starting to look for the alternatives because
44:54
hey, I don't know if you've noticed, but your purchasing
44:57
power isn't going far enough. Like the inflation is hitting
45:00
everyone, even if you are one of the Canteon insiders.
45:04
So like as a bitcoiner. You know, does this really mean
45:08
much to me personally Because I always advocate, look if you're
45:12
an average person of average means, then you should just be
45:14
buying spot Bitcoin directly. Like just buy Bitcoin however
45:18
you can or work for it, save for it, whatever.
45:21
Whatever way of acquiring Bitcoin for you, I really don't
45:24
care. Just all we need is more people
45:26
holding Bitcoin and taking that Bitcoin into self custody.
45:30
But with all that being said. To allow all of the liquidity
45:36
and capital in the traditional financial world that is looking
45:39
for somewhere to store their value, then all this stuff needs
45:42
to play out and it's playing out in real time and the dominoes
45:45
are getting stacked up real quickly.
45:46
So like they understand that they need a safety valve.
45:50
Like they need, they need a pressure relief valve here and
45:54
that is what Bitcoin is and eliminating the obstacles that
45:57
are you know spot Bitcoin ETF the FAS be ruling.
46:00
And you know, unfortunately for us hardened bitcoiners like
46:04
banks custoding your Bitcoin, which we always advocate like,
46:07
don't give them your Bitcoin, guys.
46:09
You know, make it through the hottle buyout zone.
46:10
Do not even use any of this Mecca nations that are a part of
46:15
the traditional financial world, whether that's the paper
46:17
Bitcoin, you know, ETF's that we are always talking about,
46:20
whether that's giving them custody of your Bitcoin.
46:22
They're going to have to find ways to incentivize you to give
46:25
up your Bitcoin and give them back control.
46:28
Of you know, the same mechanisms that got us into this place in
46:31
the 1st place And so they need to find escape valves.
46:35
And and as another sailor meme was, was like everyone is
46:38
holding melting ice cubes in their hands.
46:40
You know everyone that holds Fiat understands that they are
46:44
losing purchasing power and This is why everyone has been turned
46:46
into a speculator because you need to keep you know what's
46:51
what did they say? The Keynesians like you need to
46:53
keep the velocity of money up so that the money you know spins
46:56
around and people forget that. They're not making any fucking
46:59
value. And so of course you need to
47:02
eliminate all these obstacles so that the capital can flow into
47:05
Bitcoin legally or, you know, legally as they try to figure
47:10
out fiduciary responsibilities and all this stuff.
47:12
And so hey, if these this is what Saylor says, you know, he,
47:16
he owns, he's a billionaire. He owns a huge corporation.
47:19
So I think he has a better insight into what is necessary
47:23
for a bunch of capital to go into Bitcoin.
47:25
And so, as just a bitcoiner, that's.
47:28
It's like watching all this happen.
47:29
It's like, yeah, of course these corporations need a way to get
47:34
capital into Bitcoin because we we knew that Bitcoin was going
47:37
to get financialized eventually. And we know that the
47:39
institutions have been here. I've been having so many
47:42
conversations with friends that like, I I think you guys forget
47:46
that bitcoiners are everywhere. They work in corporations that,
47:49
you know, they work in every corner of the world and they
47:53
have friends that are high net worth individuals.
47:56
And they're having these conversations and of course it's
47:58
a little anecdotal, but people are interested in Bitcoin.
48:03
They have to be. And again, it's kind of what I'm
48:05
going to be talking about on the culture.
48:06
It's like people are feeling the pain and they need to find a
48:09
solution. Because again, if you are smart
48:11
and you're holding any amount of wealth that you created
48:15
yourself, you're looking at the landscape and you're like, holy
48:17
shit, there is a problem and I need to figure out the solution
48:20
or else I am going to get poor. And so people are looking for
48:23
solutions. And obviously eliminating all
48:26
these obstacles so that capital can flow into Bitcoin, it's
48:29
gonna make number go up and number go up is the reason why
48:32
people care say what you want about number go up or the number
48:36
go up, Maxis, but we all basically.
48:40
Got greedy, saw the Bitcoin price go up and realize like,
48:44
holy shit I can make some profits here.
48:46
I I can not get poorer by holding Bitcoin.
48:49
And this is all anyone's trying to do, is just figure out ways
48:52
to store value so that they can stop getting poorer.
48:55
So if all these obstacles get eliminated, the number is going
49:00
to go up dramatically. And it's upon us to make sure
49:04
that people take Bitcoin into self custody, that they buy spot
49:07
Bitcoin. It is a digital bearer
49:09
instrument. Like you want to hold this
49:11
directly. Do not give the middleman
49:13
control of your money again. Or else we're going to end up in
49:17
the same place that God is here in the 1st place, which is them
49:20
rehypothecating your money, which is them, you know, doing
49:23
all kinds of crazy things and speculating with your work, with
49:25
your wealth and hey. You know, maybe I'm just a ADIQ
49:29
bitcorner, but I'm feel very comfortable having my wealth,
49:33
you know, metaphorically under my mattress in self custody.
49:38
Like it it's so simple. I I really don't get how people
49:42
think that it's okay to give someone your life savings and
49:46
then expect them to, you know, like don't do crazy shit with
49:50
it. Like it just it makes no sense
49:52
to me. But hey, you know, people have
49:54
been lulled to sleep and here we are and hey.
49:57
The obstacles are getting removed and the capital is going
49:59
to flow into Bitcoin. So it's going to be lit.
50:01
Boom. Bars, bars.
50:03
All right everybody, let's get no.
50:05
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51:24
Let's go, guys. All right, so give you guys some
51:26
context on this tweet. First and foremost, if you guys
51:30
aren't familiar with Tom Luongo, I highly suggest you go watch
51:34
some of his YouTube videos and and his podcast appearances.
51:37
He hosts a podcast. It's like gun gold.
51:41
And goats or something like that.
51:43
Sorry for birching that Tom, but anyways, he's been kind of going
51:46
very hard on the idea of like Davos, man, you guys know World
51:50
Economic Forum is held in Davos every year and we understand
51:55
here at least that's simply Bitcoin.
51:57
What the World Economic Forum wants to do, what they're trying
52:00
to do and even we cover it constantly on the show.
52:02
What they've been saying directly, you know, TLDR you
52:05
will own nothing and be happy. They want you in 15 minutes
52:07
cities. They want you literally, as I
52:09
always say, deaf, dumb and blind.
52:11
And they're constantly rolling stuff out to gaslight the
52:14
population into following their very evil and nefarious stuff
52:18
that Dr. Evil. I mean, Claus Schwab tries to
52:20
roll out. Anyways, he's quote tweeting
52:23
this video that came out of Robert F Kennedy Jr.
52:27
Basically saying that there won't be any sense of fairness
52:32
in the democratic elections or nominations coming up.
52:35
And I'm not going to play the video.
52:37
You guys can find this on on Twitter if you really want the
52:40
whole sauce about what he's quote tweeting.
52:43
And that's not really what I'm going to talk about.
52:44
But here's the thread and he quote tweets and he goes OK, I
52:48
was wrong. This is Pete Davos.
52:50
And you guys know me. I've been saying on the show
52:51
constantly about the idea of have we hit Pete Clown World?
52:55
Well, every other day we find something new that's like this
52:59
is Pete Clown World. So this is, I think, Tom
53:01
Malongo's way of saying the same thing.
53:03
Like this is Pete Davos. Anyways, the reason I wanted to
53:05
bring this up is because I've been constantly saying the same
53:08
thing on the show for the last couple of weeks is that people
53:10
need to feel pain like people need to.
53:15
Search for solutions to a very personal problem and we are in a
53:18
situation right now where the zeitgeist is.
53:21
People are understanding that they're getting poorer, that
53:23
there is a problem and they don't know what the solution is,
53:26
And many even on that same, a lot of people can't even explain
53:29
what the problem is. They just.
53:31
They just feel that there's something wrong.
53:33
And we've seen this. You know the what's the Richmond
53:35
North of Richmond song that went viral?
53:38
We're seeing the TikTok videos on social media about people
53:41
feeling like they're getting poorer.
53:43
You know, we're seeing all the crazy numbers coming out of the
53:46
White House where they're faking and fibbing all this stuff to
53:49
make you feel like you aren't as poor as you are and.
53:53
That's like the zeitgeist right now.
53:55
It's the unspoken feeling that we're all feeling right now.
53:57
It's like, are we in a recession?
53:59
Are we in a Great Depression? You know, like, where are we
54:02
right now? I know most people in their
54:05
daily lives are just starting to feel the squeeze.
54:08
They're starting to feel that their money isn't going far
54:10
enough. So.
54:11
Getting to this point, and it's what I've been saying, people
54:13
need to feel the pain before they wake up.
54:15
And I really like this framing that Tom Luongo just created the
54:19
other day. And I and I think it's a very
54:20
powerful framing. So let's get into this.
54:22
He goes, he quotes, tweets, this RFK video about the chicanery
54:26
that is going to go on. And then in the elections next
54:28
year and he goes, OK, I was wrong, this is Pete Davos.
54:31
And then people responded and go, we can't vote our way out of
54:34
this mess. Maybe he's starting to realize
54:35
that and that's something we say all the time.
54:37
There is no political solution to this.
54:39
But this is where I think the framing.
54:42
Is very strong and Tom Luongo has been saying stuff like this
54:46
for a while and I really think he gets what's going on.
54:48
Even though he's kind of a gold bug and he's, I don't think he's
54:50
very big on Bitcoin, then we can work on them.
54:54
Even though I know Phil Gibson's has been talking to Tom Luongo,
54:58
he's still not fully a Bitcoin anyways.
54:59
That's besides the point Tom Luongo responds with.
55:02
It's not about boating our way out of this mess, it's about
55:04
forcing them to expose the hypocrisy to those who still
55:07
believe that we can. There are millions of normies
55:10
out there that still need to believe.
55:11
The system isn't terminally corrupt and we constantly talk
55:14
about this on the show. Like it blows my mind that
55:15
people still have faith in the system when it's so obvious to
55:18
us, like when it's so thoroughly been exposed that there is
55:22
fraud, that there is blatant theft coming from the powers
55:27
that be. And yet people still believe
55:29
that, you know, the people in suits on the TV are are working
55:32
for their best intentions and it it just blows my mind.
55:35
I constantly go back to the Dave Chappelle meme of him being a
55:39
politician, and that's all I ever see when I.
55:41
To see politicians talk. And so I I fully agree that,
55:44
look, a lot of times planting the message of Bitcoin isn't
55:48
necessarily hitting them with the facts and the figures.
55:50
It's about, as we say, winning the hearts and minds of the
55:52
masses. And 1st you got to incept the
55:54
idea that there is a problem, that people are lying to them,
55:57
that the whole thing is fake and fraud and there is no fixing the
56:00
system because people still believe they can vote their way
56:03
out. But it's not so much about
56:05
telling people that we can vote our way out.
56:07
It's more about showing people the hypocrisy that there is
56:11
something wrong and so someone responds you can't train sheep
56:15
to think and 90% of the human race or sheep and I have also
56:18
fallen into this framing. You know you get very black
56:21
pilled at times and you're like man, like are people really this
56:24
dumb? And I hate saying that because I
56:27
am team human and I and I am very hopeful and and I like to
56:30
think the best in people and I I found myself getting very black
56:33
pills like man. You know, maybe people are just
56:37
not that smart and they don't want hard money and they much
56:41
rather have, what's the meme like comfortable slavery than
56:44
dangerous freedom. And I think Tom Longo just blew
56:48
that out of my mind. And I and I was kind of having
56:50
these conversations of like point of view, like trying to be
56:52
a little more optimistic. I know Opti be more optimistic
56:55
and look at the world clearly and maybe even naively
56:58
optimistic, as I always say. And I really like this tweet and
57:02
this framing from Tom Long and he goes, bullshit.
57:04
Most people are not sheep. They are just comfortable
57:07
wolves. Take enough comfort away and
57:08
you'll see the wolf come out fast.
57:11
And I think this is such a good framing because we constantly
57:15
say in the same vein like people need to feel the pain and once
57:18
they feel the pain, like they become savages.
57:21
Like they wake up very pissed off, very angry, and you
57:25
constantly see it, you know, even coming from more
57:28
progressive people like. They wake up, they get pissed
57:31
off and they start protesting and they start burning cities
57:34
down like people are just comfortable wolves right now.
57:37
If they feel enough pain, they will wake up and want to change
57:40
something. And you know, maybe you and
57:44
you're seeing that, you're seeing that too.
57:45
You're seeing that in Argentina, right?
57:46
Like you're seeing that, like thirst.
57:49
And that's the point that I wanted to kind of double down
57:51
on. Guys is like, don't be so black
57:54
pilled. And I was very black pilled as
57:55
well, where it's like, man, people maybe are she, But I
57:58
think people are just so comfortable, they're lolled to
58:00
sleep. You know, you weren't taught
58:01
about this stuff. It took you a long time to
58:03
become a bitcoiner. And then you woke up with a
58:06
vengeance and you stacked your ass off.
58:09
You went so hard. You've had these very
58:11
headtohead, you know, argument with your family and you stood
58:14
your ground. And I think more people are
58:16
waking up to the fact that there is a problem.
58:18
And once they finally wake up, like things are going to get
58:21
kicked into OverDrive. And so, just to finish this rant
58:23
off, I want to end on Tom Longos.
58:26
He did it even longer. Response, so I'm going to read
58:28
it here because I think it's great framing, guys.
58:30
So Tom Longo responds. He goes in response to those
58:33
triggered by me having the temerity to have a little faith
58:35
in people by calling them comfortable wolves.
58:37
Here's my sermon from my digital mount for today.
58:40
The whole people are sheep. Idea is itself a psyop to keep
58:43
leaders from emerging from the dissident class, both left and
58:46
right, if you believe the task is too.
58:48
Big Will you do it? Will you do the cost benefit
58:50
analysis and say fuck it, Who wants π?
58:52
Divide and conquer takes many forms.
58:54
This idea is one of them. Bleeding off the energy of those
58:57
who see the corruption earliest extends the lifespan of the
59:00
tyrannical system. The very personality types who
59:03
should emerge as leaders against the psychotic alphas are the
59:06
ones handed a platform like Twitter to vent their nihilism
59:09
and hatred of humanity. It's not just the shit lives who
59:12
are gas lit, MPC folks. So stop being gas lit by moron.
59:15
Stop turning out, chuckling and collapsing.
59:18
Arianism and work a little harder.
59:20
There are people out there who aren't leaders, but also aren't
59:22
doormats either. They are like you, without hope.
59:25
They are looking for someone to provide the direction, the
59:27
activation energy to see some hope.
59:29
Calling them sheep is to say they are irredeemable.
59:32
We've all been abused by these psychotic alphas.
59:34
Having empathy, not derision, for that abuse is the first step
59:37
towards making things better. But if this makes me naive or a
59:41
hopeless romantic in your eyes, I would tell you.
59:43
Maybe that mirror you're holding up to me should be turned
59:45
around. Ask yourself where the impulse
59:47
to. Raid potential allies we really
59:49
come from because that whole idea of people loving their
59:52
misery because it's comfortable takes many, many forms.
59:54
All of them are toxic. All of them.
59:56
So yes, I'm not just standing up for my idea of people being
59:59
comfortable wools, I'm doubling down.
1:00:01
This is your call to action. Embrace it or remain in the
1:00:04
service of those you profess to hate.
1:00:07
Bars. Bars.
1:00:08
And I want to say I want to, I want to like, interject.
1:00:11
Like right. Quick, right, like it.
1:00:12
That doesn't apply to any type of political philosophy, right?
1:00:17
It's not, it's not a left or right thing, right?
1:00:20
You know, I know he framed it in that way, like, you know, where
1:00:22
he made the comment about the, you know, the the the certain
1:00:26
political ideology. But it just it just applies
1:00:29
like, do you want to live a life of proof of work or do you want
1:00:32
to live a life where you depend on another person?
1:00:36
That's really, really the big question, right?
1:00:38
And look, there's going to be a fundamental conflict between,
1:00:43
you know, there's going to be a clash, right?
1:00:44
There's going to be a clash between these two types of
1:00:47
philosophies. Because at the end of the day,
1:00:50
look, if we do migrate to, you know, a Bitcoin standard, you
1:00:55
know, the ability to print money to pay for things is going to be
1:01:00
gone, right? So a lot of the things that have
1:01:02
been given out, a lot of the things that have been promised
1:01:05
to people, but nobody truly could afford those things, go
1:01:10
away under a Bitcoin standard. So I think that we're heading
1:01:13
into an era where if you take personal responsibility over
1:01:16
your life, you will never, I don't think we've ever lived in
1:01:20
an era with with that much opportunity, that much ability
1:01:24
to prosper. But it does take personal
1:01:27
responsibility, whether that's the personal responsibility of
1:01:29
the storage of your wealth or the personal responsibility of
1:01:33
seeking how seeking your own information sources rather than
1:01:36
relying on a few legacy media corporate channels.
1:01:40
See a personal responsibility of your health over over what you
1:01:43
eat. It applies to all of these
1:01:45
things, right? So don't get stuck in the left
1:01:49
right dichotomy, which I truly believe is there on purpose to
1:01:52
divide and conquer the populace has nothing to do with that.
1:01:56
It's truly the party of green. The party of nihilism, poverty,
1:01:59
despair, central bank, digital currencies, slavery or beauty of
1:02:03
beauty, onset it. Death versus the party of
1:02:06
Bitcoin. The party of peace, prosperity,
1:02:08
opportunity, Optimism. There's a reason that Opti's
1:02:12
name is Optimist Fields, right? So you have to decide as an
1:02:17
individual, don't get stuck in the left and right bullshit.
1:02:20
It is literally distraction. It's party of Green versus Party
1:02:23
of Orange. I just want to say that that
1:02:25
was. Great context because it I
1:02:26
really just wanted to kind of spread that idea of the signal
1:02:31
of like comfortable wolves. I think it's such good framing
1:02:34
that you know people are lulled to sleep right now.
1:02:38
Whether it doesn't matter where it's from, it's like there has
1:02:41
been a a direct attack on the human.
1:02:46
For for too long. And now we are getting to a
1:02:49
point where it's like sink or swim, where you have no choice
1:02:53
in the matter. It's like, well, you do have a
1:02:55
choice actually, but like we know where it's headed.
1:02:58
It's heading towards a dystopian, tyrannical future,
1:03:01
you know, controlled by the same psychopaths that got us into
1:03:03
this position and or a world of people like you that are
1:03:08
individuals that want to just live, live a good life, provide
1:03:11
for their family, provide value, do something good and leave a
1:03:14
better plan. In it.
1:03:15
And to me, This is why we have dedicated our whole lives to
1:03:18
this, because it really is Bitcoin or slavery.
1:03:21
Bitcoin or death. Like Bitcoin is hope.
1:03:23
Bitcoin's giving me a New Hope. And I really do think that more
1:03:26
people are waking up to this. Like there are a bunch of
1:03:29
comfortable wolves out there. They are just, they.
1:03:32
They just need a little more comfort to take away, be taken
1:03:35
away. And it's being taken away in
1:03:37
real time. And so hey, you woke up before
1:03:39
them. So be a Good Shepherd.
1:03:41
Be a positive voice in your community.
1:03:43
Be a positive voice on Twitter. Because there's more people that
1:03:46
want hope, that need hope and that are looking for a better
1:03:49
alternative. But we're we're all getting
1:03:51
caught up in this black pill. Like, ah, the the future is
1:03:54
going to be worse than it is today.
1:03:55
Like there's no hope. And I remember when I was
1:03:58
hopeless and then I found Bitcoin and now I wake up every
1:04:01
single day and just like, all right, we're winning.
1:04:03
We're constantly winning. So just spread that signal guys.
1:04:06
There's more people like you out there and they're waking up
1:04:09
every single day. It is not left first, right.
1:04:11
It is orange verse green. And we are, absolutely.
1:04:15
Winning guys, so just just just keep it going, man.
1:04:18
I don't know. I don't know what else to add to
1:04:20
this. Yeah man, it's it's truly that.
1:04:24
But just stay. Stay on the mission.
1:04:27
We were going to win this thing. It's inevitable.
1:04:29
The incentives are on the on our side and the only thing they
1:04:32
truly have left is coercion. Anyways, guys, it's the moment
1:04:36
you've been waiting for. It's the best part of the show.
1:04:38
Time to review some memes. The Daily Meme Review brought to
1:04:45
you by Kaboom Racks. I get this question all the
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Kaboom racks. All right, guys, this is the
1:05:12
Beam review. This is the lighthearted end of
1:05:13
all the crazy stuff we talked about today.
1:05:17
Tag us on Twitter. Simply Bitcoin, people.
1:05:21
OK, get it out. Get it out, get it out.
1:05:26
Oh, you're waiting till I talk. All right, guys.
1:05:29
Tag me on Twitter at Simply Bitcoin TV.
1:05:32
If I don't. If I don't, get it on maybe to
1:05:34
tag my personal account Optimist fields Are our Twitter accounts
1:05:37
getting pretty crazy out there? But don't just tag your own
1:05:40
memes. You can tag your own meme, but
1:05:42
tag your favorite memes as well and I'll bring them on the show,
1:05:45
You know. Wait, wait, wait.
1:05:46
Hold on a second. No, no, let's.
1:05:48
We haven't done this in a while and our boy Darth is holding it
1:05:51
down. Join our every single day bro.
1:05:55
No, no. But join her to stop what you're
1:05:57
doing right now and join simply Bitcoin Cellgram Group.
1:06:00
We're almost at 1000 people. We're at 960 something or 970
1:06:05
maybe. You gotta go to T dot me slash
1:06:08
simply Bitcoin TV. Join it.
1:06:09
It's absolutely free. And drop your memes in there.
1:06:12
And I search it every single morning and drop your memes in
1:06:15
there and tag opti. Just tag opti drop your memes.
1:06:18
But you can't. Don't blow up my telegram.
1:06:21
All right, guys. Anyways, Tweets are the bullets.
1:06:24
Memes are the artillery. As you can tell, we are in an
1:06:26
information war. And it's never been clear that
1:06:30
we have the truth on our side. So just continue to plant the
1:06:33
flag, spread the signal and get more people to ask a very simple
1:06:37
question, what is money and what the hell is going on in the
1:06:40
world right now? And why is the money printer the
1:06:43
root of all the problems? Anyways, first name is by our
1:06:46
boy, the BTC therapist. BTC therapist, sorry.
1:06:49
And he goes describe your life in one photo here, I'll start
1:06:52
hashtag BTC and it goes normal. People investing in bonds and
1:06:55
real estate and stocks and it's different colored buttons.
1:06:57
And then. And me, Just a bunch of Bitcoin
1:07:00
buttons and we just keep stacking and pressing the
1:07:03
Bitcoin buttons. This is the way.
1:07:05
It's not financial advice, but go on Bitcoin.
1:07:07
All right. Anyways, Max me is by Maxy's
1:07:10
Club 518 Grandpa, and we got a future bitcoiner here.
1:07:15
You know your future progeny here, and it's a mother.
1:07:19
Maybe it'll be your daughter. Your daughter's children, your
1:07:24
grandchildren. So there's a grandchildren
1:07:26
talking to their mother. And it goes, son, you can't
1:07:29
spend all day talking about Bitcoin.
1:07:31
And he goes, what would your grandpa say?
1:07:33
And here's like a little little thought bubble of your grandpa.
1:07:36
And he goes, don't let them take your freedom through a CBDC.
1:07:39
So we'd constantly be talking about Bitcoin.
1:07:42
Go forth and spread the Bitcoin signal.
1:07:44
OK, and this next one, actually the next series of memes?
1:07:47
Is all about the the alien from the Mexico Congress.
1:07:51
It was going wild, bro. That's just weird as fuck.
1:07:54
That was so weird. It would look like a little.
1:07:58
There's so many, there's so many memes, like a little lizard.
1:08:02
There's something memes on Twitter.
1:08:03
So we're going hard on the alien meme from Mexico.
1:08:07
I did one yesterday but I all I can see this morning was a bunch
1:08:11
of these. So here we go.
1:08:13
You know me. I I don't miss a chance on
1:08:15
dunking on Ethereum. And we got.
1:08:17
A picture here of of Vitalik and then the alien, and it goes
1:08:22
corporate needs you to find the difference between this picture
1:08:24
and this picture. There's the same picture I'm
1:08:26
mummified Aliens. Oh my goodness, that's a.
1:08:32
Good job. OK, this next one I'm doubling
1:08:35
down actually. These are both Tony Hollow
1:08:37
shouts out to you bro. I didn't notice that AKA at
1:08:39
stacking under score sats under score on Twitter.
1:08:41
We got a picture of Peter Schiff here and it goes gold $1700,
1:08:45
Bitcoin $1.00 and then we got a picture.
1:08:48
Peter Schiff getting older and the Gray haired now and he goes
1:08:51
gold $1700, Bitcoin $10,000 And then we got the last picture
1:08:56
which is Peter Schiff's head on the the mummified alien.
1:09:00
It goes gold $1700 Bitcoin $10 million.
1:09:04
He's going to still be waiting for the day when Bitcoin
1:09:08
explodes. Great meme.
1:09:09
All right, this next one is Greg Zaj one and he goes how I sleep,
1:09:12
knowing I self custody, all the Bitcoin I probably lost in a
1:09:15
boating accident. And it's a picture of the
1:09:17
mummified alien. OK, all right, all right.
1:09:19
Next one is by line. He gives and he goes them.
1:09:21
When are you planning on spending your Bitcoin?
1:09:23
To me, it's the mummified alien. Never.
1:09:26
OK, And the last one is by Ding Dong 3001, he goes me after
1:09:29
hoddling another thousand years, It's the mummified alien.
1:09:33
Fuck you and stack Sats. Let's go.
1:09:36
OK, All right, all right. I'll probably not bring anymore
1:09:40
aliens on because I thoroughly destroyed so so hold on a
1:09:44
second. So.
1:09:48
Oh man, that was a that was a solid meme review.
1:09:52
You're gonna have to explain yourself to Rustin.
1:09:54
OK, hey, you're gonna have to. This is the meme.
1:09:57
OK, Rustin. All right.
1:09:59
If we can really gonna explain this.
1:10:01
Rustin did a a breaking post on our timeline about like, aliens
1:10:05
and Bitcoin this is you're gonna have to you're gonna have to
1:10:08
explain yourself to Rust. Timeline is semi serious.
1:10:11
Like it, We try to give you guys news and signal.
1:10:15
The meme review is just joking on popular culture and what
1:10:18
popular? OK, hold on, hold on.
1:10:25
Do I have? All right, all right.
1:10:32
Dropping me on the side of this, all right?
1:10:35
All right, my, me. Maybe you scored.
1:10:36
Nico, this is a this is a simply Bitcoin first.
1:10:38
All right. I got a Paul Stemmits host
1:10:41
Defense Lions Maine Powder. If you know you know, definitely
1:10:44
get this in your supplement stack.
1:10:47
I absolutely love Lions Maine. This is how I get going in the
1:10:50
morning. OK, I'm gonna give it a simple
1:10:58
which wine we should definitely sell on the website.
1:11:00
Definitely get those and and run node run.
1:11:04
Node run node. I read it wrong.
1:11:10
OK, all right. Run, run node, get yourself a
1:11:14
start all. All right.
1:11:15
Well, let's see, Let's see, let's see.
1:11:18
There is some scores in here, Nico.
1:11:20
All right. Wait, wait.
1:11:21
Do we Wait, Wait, wait, wait. I know you see this fresh.
1:11:26
Buddy on OK, are we are we dropping it?
1:11:28
We're making to make wine happy. Beginning.
1:11:31
We're plugging it at the end. Yeah, wines would be super happy
1:11:35
with us. Yeah.
1:11:36
Scan the key R code on your screen right now.
1:11:38
Take you directly to the Simply Bitcoin website.
1:11:40
You can get yourself some simply Bitcoin merch, literally.
1:11:43
It we pay attention to that. We pay attention to the details.
1:11:46
It literally says Bitcoin or slavery in the stitching.
1:11:49
It's dope. Yourself, a hoodie or a shirt?
1:11:52
And we're gonna be dropping some new merch coming very, very
1:11:55
soon. All right, Opti, let's get to
1:11:56
some scores. First score by Hammer saw I give
1:12:01
the memes a globe of the wealth painted orange with a Bitcoin.
1:12:06
What did I say? All right, whatever.
1:12:10
Globe of the world painted orange with a Bitcoin logo.
1:12:14
Next one by Canida Cygnus X. The Orange theme 1994 TikTok.
1:12:20
Next block. I like that.
1:12:22
I like that. Elaine.
1:12:24
After Tucker's post Fiat inflation truth becomes
1:12:27
mainstream. The rest will become Bitcoin
1:12:30
history. Elaine, you have.
1:12:32
I love your scores Always. Always fire.
1:12:34
World of rusty. OK, here.
1:12:37
Hold on. Let me get Let me get this
1:12:39
yellow fur ball. Here we go.
1:12:42
Here we go. I give those the 8 plushies that
1:12:45
Becca lost in Germany. Did she really?
1:12:47
That's funny. Wow, Becca.
1:12:50
One job guys. Get yourself.
1:12:53
Get yourself this at A World of rusty.com.
1:12:55
You can get yourself a yellow plushy.
1:12:57
Thanks for sending it over, Rusty.
1:12:59
All right, next one by Anton. I give the memes Alien Bitcoin
1:13:04
Supercycle. They came to stack Sats.
1:13:07
Very, very nice. Andrew Williams the The Mummy
1:13:12
alien wearing Opti's orange. It looked like a ET phone home.
1:13:16
And it's not a red hoodie. It's an orange hoodie.
1:13:19
Could you say it? Could you say ET Vt?
1:13:21
Phone home, you got to say. Employees Steve Vong, I don't
1:13:24
know. I don't remember the ones.
1:13:28
Steve Vong. It's something like that.
1:13:31
Mama Opti, this guy every day you got.
1:13:35
To do the whole thing, do the whole name.
1:13:36
That's Covernicus, right? It's not Coverni.
1:13:40
Dude, you're in trouble, bro. This is say you're in trouble.
1:13:43
Read the whole name, though. Read the whole name.
1:13:47
Opti told me what you did, bro. No Bueno.
1:13:49
OK, Viccoil. Made my son poor and kind of
1:13:53
happy. Score.
1:13:58
Watch the show to support your son.
1:13:59
Finds out he has he has a publicly known guilt fedish.
1:14:03
Oh my God. OK, next one.
1:14:11
UTXOI give the memes the Venus of.
1:14:16
I can't help you on that one. Dhoni Vestanis.
1:14:19
Vestanis. I don't know.
1:14:21
I don't know. I give the memes the Venus of
1:14:23
don't see vistanis. Something like that, I guess.
1:14:26
I guess you deserve real money. I give the memes simply by
1:14:30
Bitcoin Vista. Rich.
1:14:33
Yeah, no. But wine says that.
1:14:35
I say simply by Bitcoin. Yeah, yeah, hoodies.
1:14:40
Yeah, a humble stack hoodies. I mean, if you do want to
1:14:44
support the show, definitely stack those hoodies and shirts.
1:14:47
We do appreciate it. Anyways, sat wise Jenks, I give
1:14:51
the memes a Max Kaiser freaking on Peter Schiff on stage many
1:14:55
years back. We got to find that clip now.
1:14:59
And sorry, wrong friend. We are out of time.
1:15:09
Guys, I hope you enjoyed Simply Bitcoin Live.
1:15:11
If you enjoyed the show, you know what to do.
1:15:13
Smash that like button. Consider subscribing if you feel
1:15:15
like we provided you value. But the number one thing you
1:15:17
could do to help push the peaceful Bitcoin revolution
1:15:20
forward is share this content. And in fact, share all Bitcoin
1:15:23
content. Don't be exclusive.
1:15:25
Be inclusive. Share all Bitcoin content.
1:15:27
Don't share. Share shitcoin content.
1:15:28
That's counterproductive. I'm your host.
1:15:30
Niko is my legendary cohost Opti.
1:15:33
And thank you guys so much for tuning in.
1:15:35
We'll see you tomorrow for the Friday special of Simply Bitcoin
1:15:39
Live. We're going to break down Tucker
1:15:42
bringing hot fire on. And he has the Javier Mali
1:15:45
interview tonight too, So hopefully you'll get some spicy
1:15:49
clips. All right, everybody, peace out.