Latest / Simply Bitcoin / NEW LAW CONFIRMS Paper Bitcoin ATTACK is OVER?! | EP 1299

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NEW LAW CONFIRMS Paper Bitcoin ATTACK is OVER?! | EP 1299 · Simply Bitcoin

• 0:00
  What just happened might confirm that the paper Bitcoin attack is
• 0:04
  finally over. The entire space has been
• 0:08
  speculating for a long time that the Bitcoin ETS were creating
• 0:11
  paper Bitcoin because they were settling transactions in cash.
• 0:15
  But what just happened literally hours ago changes everything.
• 0:20
  So what am I talking about? Actually, before I move on, of
• 0:23
  course I'm here with the wonderful, the great speaking
• 0:27
  and beautiful Internet Sophie AKA Niko's wife.
• 0:32
  So what? Again, what am I talking about?
• 0:34
  So yesterday we got some huge news coming out of the SECI Know
• 0:38
  everyone in the chat doesn't like the SEC, but hey, they do
• 0:43
  essentially write the rules of the road here.
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  And for the audio listeners, this is the press release coming
• 0:49
  from the sec.gov and it is headline SEC permits in kind
• 0:53
  creations and redemption for crypto ET PS.
• 0:57
  And so before I move on, for people that don't know what in
• 0:59
  kind redemptions are, it basically means that this fun
• 1:03
  like the I bid or the Fidelity one or the Arc shares can redeem
• 1:08
  their shares and receive actual Bitcoin instead of cash.
• 1:12
  And of course, this differs from where it is right now, which are
• 1:14
  purely cash redemption where the fund would essentially need to
• 1:18
  sell their Bitcoin on the open market to give the investor
• 1:21
  Fiat. So TLDR here, you know, the
• 1:24
  short of it is it seems like they've fundamentally changed
• 1:28
  the rules of the ETF to be real Bitcoin going in and then of
• 1:33
  course real Bitcoin being sold out and we'll go into the
• 1:37
  implications and stuff afterwards.
• 1:39
  I want to read the press release.
• 1:40
  There is some interesting stuff in this press release.
• 1:42
  It is, it is pretty, you know, like corporate speak a lot of
• 1:45
  it. So it will be a little boring.
• 1:46
  But anyways, the SEC today voted to approve orders to permit in
• 1:50
  kind creations and redemptions by authorized part participants
• 1:54
  for crypto asset exchange traded products, AKAETP shares or as
• 1:58
  more commonly called ETS. And to to be remembered or
• 2:02
  reminded here, one of the huge authorized participants of the
• 2:06
  BlackRock ETF is JP Morgan and they have been making a lot of
• 2:10
  moves into Bitcoin. So this is very interesting
• 2:13
  stuff even though. This press release is pretty.
• 2:16
  Cold and boring the orders approved today reflect A
• 2:20
  departure like I said from recently approved spot Bitcoin
• 2:22
  and shit coin Etps which were limited to creations and
• 2:26
  redemptions on an in cash basis basis.
• 2:29
  With today's approval orders Bitcoin consistent with other
• 2:32
  commodity based etps approved by the Commission will be permitted
• 2:36
  to create and redeem shares on an in kind basis.
• 2:39
  Again, real Bitcoin going in real Bitcoin going out quote,
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  it's a new day at the SEC and a key priority of my chairmanship
• 2:46
  is developing a fit for purpose regulatory framework for crypto
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  asset market, said SEC Chairman Paul asked Atkins.
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  I am pleased the Commission approved these orders permitting
• 2:55
  in kind creations and redemption for a host of crypto asset.
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  ETP investors will benefit from these approvals as they will
• 3:02
  make these products, quote, less costly and more efficient.
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  Again, extra quote. Today's approvals continue to
• 3:09
  build a rational regulatory framework for crypto, leading to
• 3:12
  a deeper, more dynamic market, which will benefit all American
• 3:16
  investors. This decisions align with the
• 3:18
  standard practices for similar Etps.
• 3:21
  What the referencing here is in Europe, they already basically
• 3:24
  have income redemptions here. So it does seem like there's
• 3:27
  some standard standardization happening across all
• 3:29
  institutions globally. On the one hand, I think this is
• 3:32
  really good. Now the paper Bitcoin, I guess I
• 3:35
  would say FUD of are these ETFs actually buying Bitcoin if
• 3:39
  they're just settling in cash? I think now it's completely
• 3:43
  being cleared away. That FUD seems to be going away
• 3:46
  now. It's going to be interesting
• 3:47
  what happened on the I mean, I don't know if you guys looked at
• 3:50
  the price this morning, but it is reacting I would say a little
• 3:53
  unfavorably. I don't know if it's about this
• 3:55
  news or really there is some speculation of what's going to
• 3:58
  come out of the White House crypto report.
• 4:00
  I will kind of cover that later in the show.
• 4:02
  Again, nothing definitive there, but it seems like people are
• 4:05
  very bearish on what's coming out of the report.
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  I think the high as I said yesterday is a buy the rumors
• 4:11
  sell the news types of that yesterday.
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  Anyways, Jamie Selway, director of the Division of Trading and
• 4:16
  Markets said, and here is this the one.
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  No, OK, sorry. The next paragraph is where some
• 4:22
  interesting stuff comes out, which could kind of open up, I
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  think an even bigger paper attack.
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  So let me hold off for a little bit.
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  Quote the Commission's decision today is an important
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  development for the growing marketplace for crypto based
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  Etps in kind creation and redemption provide flexibility
• 4:37
  and cost savings to ETP issuers, authorized participants and
• 4:41
  investors, resulting in a quote more efficient market.
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  And I'll break down kind of what they mean by this more efficient
• 4:48
  market. It's I don't think it's
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  necessarily for the ETF issuers. I think it's really more for the
• 4:53
  Bitcoin market in general. But there is I believe it's in
• 4:56
  this paragraph that there is some yes, it's this paragraph.
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  There's some interesting stuff here when we were going over
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  this. On the one hand it does seem
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  like the quote paper Bitcoin attack from the ETFs is over,
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  but from the other other attack. Here, let me let me just read
• 5:16
  this for you. So the Commission also voted to
• 5:18
  approve other orders that advance a merit neutral approach
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  to crypto based products, including exchange application
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  seeking to list and trade an ETP that would hold mix spot Bitcoin
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  options on certain spot Bitcoin Etps, flexible exchange options
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  on shares of certain BTC based Etps, and an increase of
• 5:36
  position limits up to the generic limits for options up to
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  250,000 contracts for listed options on certain BTCETPS or
• 5:44
  ETS. Additionally, the Commission
• 5:46
  issued 2 scheduling orders soliciting comments, etcetera,
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  etcetera, etcetera. Anyways, why it does this
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  paragraph in particular make it seem like they might be
• 5:55
  expanding the quote paper Bitcoin attack is because this
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  emphasis on options. Now the kind of framework that
• 6:03
  most people have been using is this is very good for the
• 6:06
  market. Again, real Bitcoin going in,
• 6:08
  real Bitcoin going out and let's just talk about how much Bitcoin
• 6:12
  the ETFs or Etps actually have. Again, guys, they have a 1.298
• 6:18
  million, 268 Bitcoin allegedly in these ETFs.
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  So for a while it was cash redemptions.
• 6:26
  Now it seems like if they have to do any kind of financial
• 6:30
  maneuvering, engineering to get all of that Bitcoin, hey, maybe
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  they're going to have to, you know, buy this all on the spot
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  market if they actually don't have all of that Bitcoin.
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  So on the one hand, I would say it's definitely bullish.
• 6:45
  On the other, it's going to definitely show to us who is
• 6:50
  swimming naked, AKA. Anyways, Eric Balkun is, of
• 6:54
  course a senior ETF analyzer. Analysis analysts.
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  Wow, it's early, analysts at Bloomberg says.
• 7:01
  Opti hasn't had enough coffee. Today I literally have not had
• 7:04
  enough caffeine. Today he's he tweets.
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  That's my fault. Yeah, totally.
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  Yeah. I I'm not going to say Eric
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  Balkunis tweets an issuer just wrote me quote.
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  This is huge and will create explosion of option based
• 7:18
  Bitcoin ETFs again. Sounds like more paper Bitcoin
• 7:24
  again. The the headline story is the
• 7:28
  paper Bitcoin attack is over because now they actually have
• 7:31
  to buy the Bitcoin again. Real Bitcoin going in, real
• 7:34
  Bitcoin going out. It's basically how the gold ETFs
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  have been handled historically. So it's on the one hand it's
• 7:42
  super game changing for what's going on.
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  This is one of the big caveats. Yeah, literally, Buck 50 says
• 7:49
  it. I'm pretty sure no one has any
• 7:51
  idea what's going to happen by the end of the year.
• 7:53
  So the main take from most Bitcoiners is this is good, you
• 7:57
  know, more clarity. Now they're actually having to
• 7:59
  buy this Bitcoin. They don't have to do this
• 8:01
  financial engineering of cash redemptions.
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  But let's kind of break this down.
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  The more bullish take on in kind redemptions is that they don't
• 8:12
  have to or they're not required anymore to sell that Bitcoin on
• 8:15
  the market. And this is key.
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  So before they basically got to sell that Bitcoin and then they
• 8:20
  pay out their investors in cash. Now they basically just buy the
• 8:24
  Bitcoin. They don't have to actually have
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  a sell transaction on to the market, which is super bullish,
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  kind of minimizes the sell pressure here.
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  And then further, if these ETFs still maintain the attention
• 8:37
  that they they have currently again, they scooped up 1.2,
• 8:40
  almost 1.3 million Bitcoin, then that just proves that the market
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  has confidence in Bitcoin. That shows the demand for actual
• 8:48
  Bitcoin is strong, which is obviously a super bullish signal
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  coming from Tradfy here. Now the more con view of this,
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  again you can kind of view this two sides of the same coin is a
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  cash redemption. And if a fund has to sell this
• 9:03
  Bitcoin for Fiat to refill their redemption, then of course that
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  would increase the cell pressure.
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  Now we've seen this play out currently where I don't know if
• 9:12
  it would increase per SE, but we've already kind of seen these
• 9:15
  mechanics play out. But if they did do large in kind
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  redemptions, then there would be immediate dumping, which is
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  maybe what we're seeing on the market today.
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  So that could that could maybe explain it.
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  No, but it would only be dumping on their own hedge fund.
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  It wouldn't be dumping on the market.
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  People would just take Bitcoin into self custody, right?
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  Am I understanding that right? Let's see.
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  If they're if they're going to be paying in kind redemption,
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  right? Like so if I buy an ETF on
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  whatever fund and then I want that I want to cash that Bitcoin
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  in, wouldn't they just have to like send it from their wallet
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  to my wallet? I don't think that's how they
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  work so. Oh, so then what?
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  Like what is that then? I don't understand anything
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  we've been talking about. It's the.
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  ETF issuers, The authorized participants actually hold that
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  Bitcoin. I don't think there's any self
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  custody quote in these ETFs. Damn I was going to say I would
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  pay anything to watch these boomers figure out how to do
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  self custody. Like could you imagine that with
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  their cold card? Just like.
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  No, this is This is why they put their their exposure in the
• 10:26
  ETFs. The when someone asked when does
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  the in kind redemption start? It's it's it just got approved.
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  So it seems like it's happening now, which could explain for the
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  price kind of movement we saw here.
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  So again, the income redemptions do protect Bitcoin from cell
• 10:42
  pressure caused by the ETF outflows.
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  And of course, they seemingly at least this is the theory, keep
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  the supply shock intact by avoiding liquidation.
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  And actually here it actually does say this and empowers
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  holders to take custody. So, you know, from our
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  perspective, a feature, not a bug, decentralizes the supply,
• 11:00
  promote some money ownership. So I guess you're right.
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  I guess you're right. And of course this this is kind
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  of their view. This is of course the, the main
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  movement, or rather the the main narrative we're hearing from the
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  Trump administration and also Gary Genzer from the SEC from
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  the past, and of course what we're seeing now that this would
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  protect investors more and create a more dynamic market.
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  So. Wouldn't this also, just like, I
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  mean, would this turn these hedge funds into kind of an
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  exchange themselves? Would they essentially like act
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  kind of like for example, Coinbase where, you know, they
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  take custody of this Bitcoin and you say, OK, I want to, I want
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  to cash it and they send it to your like account.
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  And then could you take it into self custody if you wanted to?
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  I mean, I have a lot more questions about this as a
• 11:51
  Bitcoiner than I do as an investor.
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  As an investor, I mean, really as a as a hedge fund manager,
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  like this is great because it legitimizes the hedge fund and
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  it's a win win because, well, I mean, the ones who are lying
• 12:06
  like they're going to be exposed and the ones who have been
• 12:08
  stacking Bitcoin are going to be rewarded for telling the truth.
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  But I, I just have a lot more questions as a bitcoiner because
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  like the what does this mean for self custody, which I think is
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  essentially like the most important part of all of this.
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  Like it what, what is gonna gonna separate them aside from
• 12:28
  like them holding Bitcoin and not being able to like lie about
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  their paper Bitcoin and, you know, number go up and
• 12:35
  everything that we love to talk about.
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  What what is what does that mean for self custody?
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  And what does that mean for people who are actually buying
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  this? Yeah, I think that would be the
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  ideal case. And so we haven't really seen
• 12:49
  any of these ETF issuers and I think that's where we will or
• 12:52
  the authorized participants kind of explain what their strategy
• 12:57
  would be here. But ideally that would be the
• 13:00
  case where the ETF issuer can redeem that Bitcoin directly
• 13:04
  versus just settling in cash. So now we have the approval from
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  the SEC and then I'm pretty sure it's going to be upon every one
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  of these ETF issuers to kind of pick and choose which product
• 13:16
  they want to do or how they want to handle their product.
• 13:18
  So I think this is from if you are a boomer out there and I'm
• 13:23
  I'm only kind of trolling on the boomers.
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  If you are. We love to rag on the yeah yeah
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  yeah. They deserve to be ragged on
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  just a little bit. And if you are an ETF buyer,
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  then I would pressure whoever is the person or the company that
• 13:39
  is buying those ETS for you, whichever product you're using.
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  This is exactly what I would stress that hey, I want to
• 13:46
  actually receive this Bitcoin. I really don't think that these,
• 13:49
  you know, brokerage houses have the infrastructure yet probably
• 13:52
  to actually give you or deliver that Bitcoin directly.
• 13:56
  But this is the ideal case, like you said, that people would
• 13:59
  actually take Bitcoin into custody.
• 14:01
  As of now, the law has been approved.
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  The SEC has opened up the floodgates and it would on one
• 14:08
  hand maybe explain why the price of Bitcoin is what it's doing
• 14:12
  today. Everyone, everyone in the chats,
• 14:14
  like another day in Bitcoin, another dumping day of Bitcoin.
• 14:19
  I was promised 150K. It's crazy because the people
• 14:22
  who are you, you'd expect the people who are dumping to be
• 14:26
  these day traders, but like, you know, it'd be your own people,
• 14:29
  bro. It'd be these like OG Maxis who
• 14:32
  have been holding onto Bitcoin for forever.
• 14:34
  And hey, I don't blame them. I can't blame them.
• 14:36
  I can't blame them. I do the same thing.
• 14:38
  Let's be honest here, but. All right, there's actually.
• 14:40
  Some some good questions in here.
• 14:42
  So zero to 1 says in kind would trigger a taxable event.
• 14:47
  No, it kind of depends it from what I'm reading here on the SEC
• 14:54
  press release, they're not actually selling the Bitcoin.
• 14:58
  So I think that's kind of in a Gray area, which does kind of
• 15:02
  lead us into what we're potentially going to hear coming
• 15:05
  out of the crypto report, which we'll talk about in about 20
• 15:07
  minutes. And then we had another question
• 15:09
  in here. Let's see.
• 15:14
  Paper Bitcoin is an attack on Bitcoin.
• 15:16
  Yes bro that's done. Thanks for pointing out the
• 15:18
  obvious. Someone said I can't find is
• 15:22
  this only David said? Is this for only the UTF ETFs at
• 15:25
  yes, this is from the US government.
• 15:28
  This from the US SEC, but we have seen that in Europe a lot
• 15:33
  of the ETF or ETP issuers are already kind of doing in kind
• 15:36
  redemptions. And so again, being that America
• 15:41
  is, you know, you could you guys could argue this or.
• 15:44
  Or. You can kind of this is our take
• 15:47
  here. It's like US is essentially the
• 15:49
  leader in finance and arguably in culture here.
• 15:52
  So what the US does, others will follow soon.
• 15:55
  And if the US does it, it's kind of like if you're offering a
• 15:58
  better product to the market, then everyone's gonna follow
• 16:01
  soon. So ideally we see more people,
• 16:04
  more countries, more companies follow this in kind redemptions.
• 16:08
  There are already some in kind redemptions in different.
• 16:11
  Parts of the world. But as of now, the USI think
• 16:14
  they're the biggest market of this.
• 16:15
  So this is huge. I think everyone else will
• 16:18
  follow this. Of course, we are self custody
• 16:20
  maxi since hence selfies questions of like are they
• 16:23
  actually going to custody this Bitcoin?
• 16:24
  We want people to hold actual Bitcoin, but I think this is a
• 16:28
  good first step towards that. Now we will see how this is kind
• 16:31
  of actualize how they will actually do this in practice.
• 16:36
  But now we don't have the SEC fighting us.
• 16:39
  So there's a lot of things going on here.
• 16:41
  You know, the US is on the basically within 24 hours going
• 16:45
  to announce what they're doing with either the strategic
• 16:48
  Bitcoin Reserve, what they're doing with their regulatory
• 16:51
  framework in the US. Again, this was part of the
• 16:54
  executive order from Trump about America embracing Bitcoin and
• 16:59
  they gave it 180 day delay to do the report.
• 17:03
  They got it in, I believe it was last week, the 22nd and they are
• 17:07
  going to talk about it later today at 2:30.
• 17:11
  So we don't have anything conclusive on what they're going
• 17:14
  to say. They were actually going to do a
• 17:16
  press conference about it. So.
• 17:19
  I'll kind of give you in the news kind of the the rumors, the
• 17:23
  speculations of what's going to go into it.
• 17:25
  And then tomorrow, I'm sure we'll probably break down
• 17:28
  exactly what came out of that. I'm sure we'll get some clips
• 17:31
  here. Let me see.
• 17:32
  There was one more comment in here.
• 17:34
  If I can't find it, we'll just keep it moving.
• 17:38
  Keep it moving. But yeah, OK, I can't find it.
• 17:41
  I can't. Jonathan Deala.
• 17:43
  OK, this is a new question, but why not just buy BTC directly
• 17:48
  then? Yeah, we know that's.
• 17:50
  That's the big question. And, and again, I keep saying
• 17:53
  this and I keep stressing this, but I, I guess I don't say it
• 17:56
  enough on the show. You got to remember from an
• 17:59
  individual perspective, if you just have cash on the side, then
• 18:03
  of course buy Bitcoin directly. That's like the easiest thing to
• 18:07
  be doing, But when you have a lot of capital that is locked up
• 18:11
  in traditional finance instruments, there is a lot of
• 18:14
  rules in red tape that you can't actually get your money into
• 18:18
  Bitcoin. Yes, you maybe you want you
• 18:19
  could sell it and take a penalty on whatever your investment or
• 18:23
  portfolio holds, but a lot of people don't want to do that.
• 18:27
  And so a lot of these various different instruments, Bitcoin
• 18:30
  exposure products on Tradfi are so people don't get, you know,
• 18:35
  have to sell their products. They can kind of just roll it
• 18:37
  over into a Bitcoin ET Yeah, again, I think the metric is 97%
• 18:41
  of capital around the world is basically locked up in these
• 18:46
  different credit instruments and they can't actually get it into
• 18:49
  Bitcoin. So there is a product market
• 18:52
  need here. But for us, it's like, bro, just
• 18:54
  buy Bitcoin. I I'm sure none of us have a
• 18:56
  four O 1K anyways. If you did, you probably cashed
• 18:59
  it out 'cause you're a true believer in Bitcoin, you know,
• 19:02
  like the rest of us. That penalty, yeah, exactly,
• 19:05
  100%. I think, yeah, the the more
• 19:10
  people are exposed to like at least feeling like they're
• 19:14
  buying Bitcoin, the closer they're going to be to even
• 19:18
  thinking about taking self custody and buying actual
• 19:21
  Bitcoin. Because once they realize that
• 19:24
  they are completely cooked by these banks and the institutions
• 19:28
  and their retirement funds, they're going to say, hey, wait
• 19:32
  a minute, that doesn't happen with Bitcoin.
• 19:34
  That doesn't happen when I take my Bitcoin into self custody.
• 19:38
  So, you know, they're getting their feet wet.
• 19:42
  And this is just another another necessary evil that has to
• 19:47
  happen for for hyper bitcoinization to get to take
• 19:51
  hold. Yo, Chad, you guys are going
• 19:54
  crazy today. But you actually reminded me of
• 19:56
  a tweet that I saw of Will Reeves, of course from Fold and
• 20:00
  he basically double s down on this idea and he goes.
• 20:04
  Bitcoin lending is coming to every person in the US through
• 20:07
  their brokerage account as a margin loan backed by Bitcoin.
• 20:12
  It's all bullish for Bitcoin at this point and where this is
• 20:14
  what winning looks like. As much as we get fought by
• 20:17
  everyone and it and as much as I have my buddy in the chat who's
• 20:20
  a doomer and a bear and you guys should throw tomatoes at him,
• 20:24
  everything is aligning perfectly for more Bitcoin adoption, for
• 20:30
  more liquidity going into Bitcoin.
• 20:32
  And we really are, it really is kind of playing out in like this
• 20:35
  step, stepwise function where like 1, you know, one step is
• 20:40
  laid and then we kind of the market adjusts to it, kind of,
• 20:44
  you know, digest it and then the next one is laid.
• 20:47
  And I think pretty soon we're going to be looking back and be
• 20:49
  like 2025. Was a super bullish year.
• 20:51
  Even though Nico's been a bear out there and he's like, it's
• 20:54
  me. Yes, it is you.
• 20:55
  It is you. I'm.
• 20:56
  I'm totally totally putting. You on the spot.
• 21:00
  I think we're going to look back at 2025 and it really is going
• 21:04
  to be that defining moment where like Bitcoin entered into the
• 21:08
  mainstream consciousness. It it almost will be like a pre
• 21:11
  2025 after a after the date of 2025 moment.
• 21:16
  I'm not going full Kaiser here. I'm not I'm not blaspheming here
• 21:18
  about Bitcoin. I'm just saying this will be one
• 21:21
  of those defining. Dates.
• 21:22
  It's like they say, gradually, then suddenly.
• 21:25
  Right now we're in the gradually stage.
• 21:27
  By the end of the year, who knows, We might suddenly be in
• 21:30
  the moon. Let's hope.
• 21:32
  Yeah, I believe, OK. I believe I have strong I.
• 21:36
  Really want to believe. I really want to believe.
• 21:38
  I'm believing I'm. No, I'm a believer.
• 21:40
  It's guys again, we've been talking about it like what do
• 21:43
  you, what do you, what else are you going to go back like as we
• 21:46
  kind of Chris and I? Already all in, yeah.
• 21:49
  As Chris and I were kind of arguing yesterday, it's like if
• 21:52
  you think Bitcoin is being Co opted, what are you going to do
• 21:56
  go back to the dollar like Bitcoin is still the best
• 21:58
  system. So we are all true believers.
• 22:00
  We have already won yes yes, this is the way all right guys,
• 22:05
  we have a jam packed show. There is a great Jack maulers
• 22:08
  clip. He actually he did a whole
• 22:10
  Bloomberg interview. I believe it was like 30 minutes
• 22:12
  and he absolutely slayed it and Bloomberg TV clipped it put it
• 22:17
  on Twitter. So we're going to watch that
• 22:18
  clip. There is some some great signal
• 22:21
  in it and then I'm going to give you kind of a.
• 22:24
  I guess a rough. Speculation or you know where we
• 22:27
  are right now of what's going on with this crypto reserve report
• 22:32
  or rather crypto report coming out of the working crypto group
• 22:35
  that is going to be dropped in about 2 1/2 hours and then so we
• 22:41
  really don't know what's going on there.
• 22:43
  There is some interesting rumors coming out of it.
• 22:46
  This might be a full chud nothing ever happens moment.
• 22:49
  So, you know, don't don't smash by your whole dry powder right
• 22:53
  now thinking it's going to pump. It could be a dumping, it could
• 22:58
  be a dumping moment. But yeah, we'll cover that.
• 23:01
  And then Kaiser really, really going further on the supply
• 23:06
  shock. And I'm sure you've heard this,
• 23:08
  but it really is starting to accelerate and it's getting kind
• 23:12
  of crazy out there. So we're going to talk.
• 23:13
  About all that today. And of course, before we go on,
• 23:17
  I do want to remind you to smash the like button, of course,
• 23:21
  comment on the show. Do you think this is a good
• 23:23
  thing? Do you think this is it's a bad
• 23:24
  thing and hit the subscribe button.
• 23:27
  We are dropping all kinds of new content every single day.
• 23:30
  We drop the best content, the most content.
• 23:32
  And actually, you know, Sophie just dropped a new show
• 23:35
  yesterday. So go check it out on YouTube.
• 23:37
  Let us know what you like and if you want to see more.
• 23:41
  The videos so that I don't get fired.
• 23:42
  Yeah, Sophie's on the Sophie's on the chopping block.
• 23:46
  That that's my own personal plug.
• 23:48
  Please share the video with your friends.
• 23:49
  It will no your wives or your. Girlfriends, your mother's and
• 23:53
  your sisters. Personally help me out.
• 23:57
  She's getting fired. Or I'm getting fired AKA my my
• 24:01
  allowance is getting cut. Yeah, exactly.
• 24:04
  Anyways guys, before we move on, I do want to give a huge.
• 24:07
  Shout out to our boys over at. Bitcoin, well go to
• 24:11
  bitcoinwell.com/simply BTC and of course if you scan the QR.
• 24:17
  Code here. Wait here over there somewhere.
• 24:20
  It's that way. I think it's.
• 24:21
  Yeah, that way. There there.
• 24:23
  You will get three chances to win a million sets.
• 24:26
  I have yet to see anyone win the million sets and I know that
• 24:29
  Adam says it's getting a little too expensive.
• 24:32
  So I would go play the game now because who knows, he might rug
• 24:36
  pull us on the wishing well here.
• 24:39
  But when you sign up, when you refer your friend, when you buy
• 24:42
  Bitcoin, you get points to play the wishing well and then you
• 24:45
  kind of just throw it in and you have a chance to win.
• 24:48
  Actually, you win three sets every single time, and the
• 24:51
  reason we really love these guys is because they have never lost
• 24:55
  Bitcoin. They will never lose your
• 24:57
  Bitcoin, and there's no possibility of them ever losing
• 25:00
  Bitcoin into the future because they do self custody by default.
• 25:04
  Literally, you send them money and they send you the Bitcoin to
• 25:07
  your cold storage. This is the way because we
• 25:10
  believe in self custody is the revolution and you need to take
• 25:14
  your Bitcoin into self custody. All right, guys, let's keep it
• 25:16
  moving. I want to tell you guys about
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  our sponsor stamp seed. Is your Bitcoin and cold storage
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  Paper sucks. You want to literally stamp your
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• 26:52
  OK guys, we're over here on. Clark.
• 26:54
  Moody's dashboard get fired. This is.
• 26:57
  This is for the. Record that I can't get fired,
• 26:59
  OK. See, This is why I.
• 27:01
  This is why I love you guys this.
• 27:02
  Is why Opti loves handling the chat because I can pull whatever
• 27:06
  I want on the show and Nico doesn't even know.
• 27:08
  Anyways, we are on Clark Moody's dashboard and the current
• 27:12
  Bitcoin price is $117,900 and actually.
• 27:17
  This reminds me. Of a tweet I saw this morning
• 27:20
  from psychedelic Bart and he's like 2.
• 27:22
  So everyone complaining about the price, guys like get over
• 27:24
  yourselves. We're at $117,000 Bitcoin right
• 27:28
  now and everyone's freaking out. We're at a decline from all time
• 27:31
  high of -4.1% and we are all getting tired here.
• 27:36
  I, I know we're, we're tired of 120 K.
• 27:39
  It's like we we were tired of 100K an hour after it happened.
• 27:43
  Now we're tired of 120 K 30. What's it three months after it
• 27:47
  happened? We've been going sideways for a
• 27:49
  while consolidating, but I feel it in my plums that it's going
• 27:53
  to RIP soon. Guys, it's got to RIP soon.
• 27:57
  It's actually it's going to do something.
• 27:59
  It's either going to RIP or you get a discount.
• 28:01
  I think it's going to RIP though.
• 28:02
  Anyways, the block height is 907,838.
• 28:05
  The current market cap and Fiat terms is $2.35 trillion and we
• 28:09
  have secured the 10% of the gold market cap.
• 28:13
  There's still 90% to go until we take over gold's 22 ish trillion
• 28:19
  dollar market cap. So a lot of room.
• 28:22
  To run. Anyways, as I was telling you,
• 28:25
  Jack Maulers did a great interview with Bloomberg.
• 28:29
  They did a whole 30 minute interview.
• 28:32
  Highly recommend you go watch the whole thing, even Nico.
• 28:35
  Earlier was like, yeah dude, he freaking killed it.
• 28:37
  Like it's a great interview, but I got a little clip from it now.
• 28:42
  The first part they are kind of asking him about what 21
• 28:45
  Capitals goals are, but the. Second part is kind of what I've
• 28:49
  been saying on the show, excuse me, for weeks now when we have
• 28:53
  Luke on and he's talking about Bitcoin, you know, leaving from
• 28:56
  exchanges and supply shock happening.
• 28:58
  Look, I do. Believe in the mother of all
• 29:00
  supply Shock is going to happen at some point, but I'm not
• 29:03
  completely sold on the exchange metrics because of the very
• 29:07
  thing that Jack Mahler says on this clip.
• 29:10
  And it also really goes into how few people really understand
• 29:16
  what a hard capped money really means, what a hard capped asset
• 29:21
  really means. The importance of the 21,000,000
• 29:24
  total supply of Bitcoin. And in a way that only Jack
• 29:27
  Mahler's can, he could just get you even more bullish.
• 29:30
  So let's play that real quick. What's the end game for you?
• 29:33
  Is it just to buy as much Bitcoin as you can and hold it
• 29:36
  for as long as possible and never sell it?
• 29:39
  That's one of the goals, yes. But I think what makes us
• 29:42
  different than a lot of these other businesses is we plan to
• 29:45
  build Bitcoin products as well. I mean, the founding group is
• 29:48
  Tethering. Myself, I founded in lead Strike
• 29:51
  is one of the bigger Bitcoin financial services firms in the
• 29:53
  world. Tether obviously is one of the
• 29:55
  most impressive companies in the history of humanity, but
• 29:57
  specifically in building massive cash flows within the space.
• 30:00
  So Paulo and I, before we were CEO's, we were engineers, we
• 30:04
  built a lot of products. And so we plan to not only
• 30:06
  acquire as much Bitcoin as possible, raising capital and
• 30:09
  all sorts of deep capital pools, but also build products, build
• 30:12
  technology, build tools. I think when people eventually
• 30:15
  think of 21, it's are they a competitor to Coinbase, Are they
• 30:18
  competitor to strategy for us? Why not both?
• 30:20
  We think we have that potential. Do you envision a future where
• 30:24
  Bitcoin treasury companies such as Strategy, Mara and You guys
• 30:29
  end up buying so much Bitcoin that there really isn't actually
• 30:33
  much left out there on the open market for people to trade?
• 30:36
  After all, it is a fixed number of bitcoins, so no more will be
• 30:41
  created once it reaches that number.
• 30:43
  Right. You know what's fascinating
• 30:45
  about the asset, and it's not intuitive because it's so rare,
• 30:47
  is that to your point, it is definitively scarce.
• 30:51
  So if everyone in the world wanted an iPhone, Apple could
• 30:54
  make more. If everyone in the world wanted
• 30:56
  a McDonald's cheeseburger, McDonald's could make more.
• 30:59
  The fact that Bitcoin cannot increase its supply means the
• 31:03
  new supply comes from the market.
• 31:04
  If you want more Bitcoin, you don't go to the Bitcoin factory
• 31:07
  to get one. You have to go up in price.
• 31:10
  Is there enough Bitcoin for me at 120,000?
• 31:12
  No, OK130140150. So I tell you what, there's
• 31:15
  always Bitcoin available, just depends on what you're willing
• 31:18
  to pay for it. And So what I think will happen
• 31:20
  is this price will continue to discover higher because Bitcoin
• 31:24
  is the scarcest thing. It's inelastic to the amount of
• 31:27
  demand that searches for it. So the amount of buying power
• 31:30
  that we're seeing from the capital markets, from the ETFs
• 31:33
  and potentially from nation states like the United States, I
• 31:36
  think they'll find the supply they're looking for.
• 31:38
  They're just going to have to go get it at a high.
• 31:41
  And that is the signal there. That is what we constantly tell
• 31:45
  people. And that's even the debate that
• 31:46
  Luke and I have been having on the show.
• 31:48
  He's like, look, if you look at the actually here, let me pull
• 31:50
  that up. Let me see if I can find that
• 31:52
  real quick. If you look at the Bitcoin on
• 31:55
  exchanges, actually I think it's on bit bow.
• 31:59
  It does look like there is a lot of Bitcoin leaving the
• 32:04
  exchanges. Is it on here?
• 32:06
  Oh, no, I think it's on coin glass.
• 32:07
  Sorry guys, I should have had this set up but I like Jack was
• 32:14
  saying the thing that really makes me counter this.
• 32:17
  This whole narrative right now of Bitcoin on exchanges is going
• 32:22
  down. So like the mother of all supply
• 32:28
  shocks is coming. What's what Jack Mueller says?
• 32:32
  And again, maybe it's just 'cause I have such a low IQ that
• 32:35
  I simplify everything here and I and I try to make it as simple
• 32:38
  as possible. Is, is very simple.
• 32:42
  Like yes, it looks like the Bitcoin on exchanges has been
• 32:46
  constantly been dwindling. As of now, we are currently at
• 32:49
  what is this, the 2.13 million Bitcoin on exchanges and this is
• 32:55
  all the big exchanges and we had a peak of 2.81 million last
• 33:01
  year, the beginning of last year.
• 33:03
  Then it does look like Bitcoin is starting to leave the
• 33:08
  exchanges, whether that's the corporate treasuries, the ETFs,
• 33:11
  the institutions, the nation states buying Bitcoin.
• 33:15
  They would be on the open market obviously.
• 33:17
  And I, I don't know if this one has the, no, this doesn't have
• 33:20
  OTC desk, but we're seeing a very similar phenomenon happen
• 33:23
  over the counter where people are buying them, you know, not
• 33:27
  on the spot market. The point that I always say is
• 33:30
  like, there will always be Bitcoin to be bought at any
• 33:33
  price. You just have to incentivize
• 33:34
  bitcoiners to sell it. Now, if you're in the audience,
• 33:37
  you probably have your own price in your head and you're like,
• 33:40
  I'm not selling my Bitcoin for $120,000.
• 33:44
  Or maybe you're like, I'm not ever selling my Bitcoin for any
• 33:48
  price. Maybe you're on the sailor train
• 33:50
  and you're like, I'm going to, you know, get pass away with my
• 33:54
  Bitcoin because I want to donate this to the the rest of all the
• 34:00
  Bitcoin holders. I just think there will always
• 34:02
  be a price. Now, this is just how the
• 34:04
  Bitcoin market works. And you kind of see this
• 34:06
  happening with like limit orders and spoofs and like longs and
• 34:11
  liquidations. You'll see price points on the
• 34:14
  heat map where you see either people are willing to buy and
• 34:17
  then where they're going to sell a big chunk of coin.
• 34:20
  And that's where you'll see, like, more Bitcoin will hit the
• 34:23
  exchanges eventually, just at a higher price.
• 34:26
  And it's funny to see the Bloomberg TV analyst who's like
• 34:30
  a financial analyst here. You could argue he's probably a
• 34:33
  Keynesian, too. He's sitting here like, wait,
• 34:36
  does this mean there will never be any Bitcoin for anyone to
• 34:39
  buy? You're like, well, you know,
• 34:42
  that was not necessarily but. That was actually my favorite
• 34:45
  part. I was like, I love it when
• 34:47
  Mahler's explains Bitcoin to like people who just don't get
• 34:51
  it or are starting to get it, you know, that's that.
• 34:54
  Like, that just indicates how early we still are and like how
• 34:58
  we're still in the phase of like, oh, there's only 21
• 35:02
  million that are ever going to be made.
• 35:04
  And so, you know, when people realize how scarce this is, that
• 35:08
  this is more scarce than gold and, you know, all the other
• 35:11
  things that they used to value in this life, I think that's
• 35:15
  when we're really going to start to see the price pump.
• 35:18
  But who knows? I don't know.
• 35:19
  I'm not a fortune teller, but it just it kind of like goes with
• 35:23
  the logic, right? Yeah, no, 100%.
• 35:29
  Hold on. We have.
• 35:31
  Someone's going wild in the chat.
• 35:34
  Oh. Don't get us banned, chat.
• 35:37
  Hey that that's them on the chat their.
• 35:39
  Their comment won't go through because YouTube has filters
• 35:43
  there. So we we have, we have.
• 35:45
  Yeah, we have nothing to do with that.
• 35:46
  Sorry, I'm a little sidetracked. What what what?
• 35:49
  Can you sum up what you just said again?
• 35:52
  Sorry, not go up, there's like only a fixed amount and.
• 35:58
  And. Also, yeah, and also, well, in
• 36:00
  general, dude, like there's like, isn't it like 95 or 96% of
• 36:05
  the Bitcoin ever in existence has already been mined?
• 36:09
  Yeah, yeah. Let me, let me go back here.
• 36:11
  We'll look at it 94.75%. There you go.
• 36:15
  Like it's every day there is less and less Bitcoin.
• 36:18
  I went up, I didn't pull. It.
• 36:20
  Up everyday there's less and less Bitcoin and while we see
• 36:24
  that some people like the Ogs, yeah, you see them selling like
• 36:27
  an absurd amount of Bitcoin because we're watching it from
• 36:29
  our perspective, right? We're like, damn, 80,000 Bitcoin
• 36:33
  is like an insane amount of Bitcoin.
• 36:36
  But I think that eventually, you know, like people, people are
• 36:41
  going to buy that up. Like especially these huge
• 36:43
  institutions, they're going to buy it up.
• 36:46
  Yeah, sorry guys. It's I hope you're not hearing
• 36:49
  this. That rumble back end is blowing
• 36:52
  up. But yeah, I think, I think what
• 36:55
  we're going to see here very soon is this exact phenomenon
• 36:58
  playing out. Where there, I think a lot of
• 37:02
  the sellers will eventually get exhausted at this point and
• 37:05
  they're not going to want to sell their Bitcoin.
• 37:06
  Now everyone out here is probably not one to sell their
• 37:09
  Bitcoin. I'm sure.
• 37:10
  Look, as much as we don't like to talk about Fiat prices, and
• 37:14
  we get a lot of blowback because we measure Bitcoin in Fiat, it's
• 37:17
  like, what else? Are we going to measure it and.
• 37:19
  Do it like jars of mayonnaise or something, Like what are we
• 37:22
  talking about here? I think everyone kind of has a
• 37:25
  price point in their head where. They will feel.
• 37:27
  Comfortable in regards to their Bitcoin holdings and you could
• 37:31
  think of that as like that's the price that you're willing to
• 37:33
  sell that Bitcoin. Now, whether you will sell it,
• 37:35
  whether you're going to be able to just exchange your Bitcoin
• 37:38
  for goods at that point, it's probably a totally different
• 37:41
  conversation if this is going to be 5-10 years down the line, but
• 37:45
  there will always be Bitcoin at any price.
• 37:47
  It would always hit the exchanges.
• 37:49
  There's, you know, like we said, there's O GS, that body, that
• 37:51
  freaking pennies, there's O GS that hold it, held it without it
• 37:54
  even being a price and now they're like look 120K per coin.
• 37:58
  That sounds reasonable to me. And if you watch Simply Bitcoin
• 38:01
  and you know how much Bitcoin to retire with, you'll realize that
• 38:04
  you won't have to sell it all. You can sell a little bit of it
• 38:07
  and then, you know, keep the rest of it so that you can
• 38:10
  actually have some generational wealth.
• 38:13
  Yeah, 100%. I I really don't believe that
• 38:16
  anyone that is a true Bitcoin believer will sell their whole
• 38:20
  bags. Oh hell no.
• 38:21
  That would be the dumbest thing ever.
• 38:23
  That's the thing. Like the further down the rabbit
• 38:25
  hole you go, the more you understand that selling your
• 38:29
  Bitcoin for what? Like, what are you going to buy
• 38:31
  it? What?
• 38:32
  What are you going to buy in exchange for it?
• 38:33
  You're going to buy real estate. I mean, maybe if.
• 38:36
  You want a house? Well, yeah, fine if you want a
• 38:38
  house that's perfectly normal, but you don't have to do what
• 38:41
  these boomers do, which is say like, uh, I'm a put my entire
• 38:45
  bag into five different rental properties and they're going to
• 38:48
  generate me income of it. Like, no dude, like now you
• 38:51
  literally don't have to do anything.
• 38:52
  You are the bank in the future. Like people who actually get
• 38:56
  into this and realize the power of Bitcoin and this scarcity
• 39:01
  model that we're talking about right now are going to realize
• 39:04
  like, hey, wait a minute, If there's not going to be enough
• 39:08
  Bitcoin for even, you know, huge institutions and governments to
• 39:12
  hang on to, that means that my Bitcoin in self custody is
• 39:17
  actually worth way more than what I think it's worth because
• 39:21
  they're going to want my Bitcoin to borrow money from like that.
• 39:26
  I think that's what the future of Bitcoin is going to
• 39:28
  ultimately lead to. Like you are going to become the
• 39:31
  the lenders. You are going to become the
• 39:33
  banks, not just for yourself, not just for your family, but
• 39:36
  also for the world at large, because there's not that many
• 39:40
  people who have Bitcoin in self custody.
• 39:42
  And that's just the truth. It's too complicated for some
• 39:45
  people, it's too inconvenient. But you know those that is going
• 39:49
  to be a reward that we see 10, maybe 20 years down the line
• 39:53
  when people start to realize is the impact that Bitcoin actually
• 39:59
  has on global markets and on the value of assets at large.
• 40:05
  Yeah, 100% and actually guys we got a, we got a new update here.
• 40:08
  So one Bitcoin I hope you did the math here is equal to 35,000
• 40:13
  jars of Mayo. So.
• 40:14
  I want to know how much that is in Boar's Head Chipotle Mayo,
• 40:18
  because that's my if you don't. Don't don't give them all the
• 40:23
  sauce here that just go get some but we did get a a good breaking
• 40:28
  update here. Shout out to Mark Hanna on
• 40:31
  Twitter and he goes Fidelity digital is offering ability to
• 40:34
  send real Bitcoin to your account or withdraw to your own
• 40:37
  cold storage free of charge starting over the next two
• 40:40
  months. So again, Fidelity is killing
• 40:43
  it. This is.
• 40:44
  Great, this is exactly what I was talking.
• 40:46
  And actually shout out to Fidelity for being ahead of the
• 40:49
  curve. Like, weren't they one of the
• 40:51
  first banks that actually started buying Bitcoin?
• 40:54
  Yeah, they've been in the Bitcoin space for a long time.
• 40:56
  Fidelity it again. If you are buying an ETF,
• 41:00
  Fidelity is the one that's the one you want to be buying.
• 41:02
  We will not endorse the Black Rock ETF here on the show by the
• 41:07
  Fidelity one. They're actually in #2 I think
• 41:09
  the number two position right now, if I remember correctly.
• 41:12
  I just looked at the chart yesterday.
• 41:15
  I I forget what I did yesterday every single day.
• 41:18
  So I'm pretty sure that's correct.
• 41:20
  You guys can Fact Check me. Anyways, let's let's move on and
• 41:24
  we will cover kind of the rumors of what we're hearing will come
• 41:27
  out of the crypto research report.
• 41:30
  That is been all the hype in the last couple of weeks.
• 41:33
  Here we go. I want to give a shout out to
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  Yes, Bitcoin bowl, I agree. I'm not going to bring that out,
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  but I totally agree with what you said in the chat anyways.
• 45:10
  Anyway. Anyways, sorry, I thought, I
• 45:12
  thought I had this up here. All right, so we've been talking
• 45:15
  about this. This has been the huge kind of
• 45:17
  speculation of what's going on. Is this going to be good?
• 45:21
  Actually, most people are like, will this pump the price?
• 45:23
  You know, Trump promised US150K early in his presidency.
• 45:27
  He hasn't delivered on that promise yet, but he's, I guess,
• 45:32
  I guess we don't know what early in his presidency means yet.
• 45:35
  I, we were, well, I thought he meant like 3 months, six months,
• 45:38
  but maybe he means a year or two.
• 45:40
  So I don't know. I don't know.
• 45:42
  Anyways, we have Eleanor Terrett again.
• 45:44
  She is a former Fox Business analyst or journalist.
• 45:49
  Now she is working in the Bitcoin space for her own
• 45:53
  company, Crypto America. And she tweets out new White
• 45:58
  House set to unveil digital assets reports today.
• 46:01
  And then in her report, there is a lot of other stuff going on
• 46:04
  that I think we will cover tomorrow.
• 46:07
  But I definitely want to kind of lay the ground where I think
• 46:11
  maybe set expectations of what we're going on here.
• 46:13
  A lot of people there, there was actually a lot of kind of rumors
• 46:16
  going around this morning. Some people were saying that the
• 46:20
  crypto asset digital report doesn't even mention Bitcoin at
• 46:24
  all. I don't, I wasn't able to verify
• 46:27
  this. I saw some kind of shit coin
• 46:28
  screenshots of Donald Trump tweeting about that.
• 46:31
  It's not even a Bitcoin reserve anymore.
• 46:33
  I think there's a lot of noise going on and we really won't
• 46:35
  know until later today, but there is some concrete stuff
• 46:39
  that we do know will be coming out later.
• 46:42
  First of all is literally this is going to be a press release
• 46:47
  in an hour pretty much right when the show wraps up.
• 46:50
  They're going to do a press conference about it.
• 46:52
  And I'm sure they haven't actually released.
• 46:54
  Maybe they released the report as we were live, but they have
• 46:57
  yet to release the report. Maybe it's going to be in
• 46:59
  parallel with the conference that they're doing.
• 47:02
  Anyways, what you'll read the White House crypto report lands.
• 47:07
  Alright. Anyways, one of the most
• 47:08
  anticipated pieces of crypto policy is set to drop later
• 47:11
  today when the White House releases it's long-awaited 180
• 47:15
  day report on digital assets. Senior administration officials
• 47:18
  are expected to attend a press event at the White House at 2:30
• 47:21
  PM Eastern Time, again an hour from now, where they will
• 47:24
  discuss the recommendations outlined in the report.
• 47:27
  And the report stems from the January executive order by Trump
• 47:31
  directing the president's working group on digital asset
• 47:33
  markets to, quote, strengthen US leadership in digital financial
• 47:36
  technology. What's being released this
• 47:39
  afternoon is the product of 6 months of work by the group led
• 47:42
  by White House crypto and AI czar David Sacks, Executive
• 47:45
  Director Bo Hinds and senior officials from Treasury
• 47:48
  Commerce, the SEC, the CF, FTC and other agencies and their
• 47:53
  mandate is to develop regulatory and legislative proposals that
• 47:58
  advance the Trump administration pro crypto agenda.
• 48:01
  Now This is why everyone's kind of saying this should be
• 48:03
  bullish, should be a bullish press conference, hopefully in
• 48:07
  regards to bullish in price terms, but it could just be
• 48:11
  bullish in terms of the long term effects for the Bitcoin
• 48:15
  industry. Now, despite widespread industry
• 48:17
  speculation about what the report might contain, there have
• 48:20
  perhaps surprisingly been no leaks from any of the
• 48:23
  participating departments or the White House offering clues as to
• 48:27
  what's inside. While the details remain tightly
• 48:31
  held, the group's original mandate including develop
• 48:33
  developing a federal framework for digital assets, particularly
• 48:37
  stable coins and effort. Congress has already completed
• 48:39
  with the passage of the Genius Act and exploring the
• 48:42
  feasibility of a national digital asset stockpile, which
• 48:46
  Trump formally established with his EO in March.
• 48:50
  Now there's speculation of what the report will recommend.
• 48:54
  Ways of fun? The SBR, again, the budget
• 48:57
  neutral mean we've been hearing around and we really don't know.
• 49:02
  I think a lot of people are hopeful about it and then going
• 49:05
  over the block, they kind of did another take on this.
• 49:08
  There was actually an interesting screenshot that I
• 49:10
  saw from coined desk this morning, But I, I didn't have
• 49:14
  the, the paywall and I and I, I, you know, I was able to get
• 49:18
  around it, but I can't put it on YouTube.
• 49:20
  So I have a screenshot for you guys, but I'll read the block
• 49:23
  first real quick. Crypto industry braces for
• 49:25
  incoming White House quote regulatory Bible on rules,
• 49:29
  Bitcoin reserve and taxes. So again, they are about to
• 49:34
  release this report in about an hour and then quote.
• 49:36
  I do think it's a big deal because this will dictate every
• 49:38
  rulemaking or guidance document that comes out over the next 3
• 49:42
  1/2 years. And this is kind of the big, big
• 49:45
  idea here is whether this pumps the price today or not, what
• 49:49
  does come out of this. We will see whether this is
• 49:52
  laying the groundwork for very bullish stuff going into the
• 49:55
  future. This is kind of the initial will
• 49:58
  we actually be the Bitcoin superpower of the world?
• 50:00
  Will we get some very favorable regulations coming out or will
• 50:05
  it be kind of a nothing burger and probably do more damage than
• 50:09
  good? I'm kind of being a cynic here
• 50:11
  are. We going to print more money to
• 50:13
  buy Bitcoin. That's the only thing I.
• 50:15
  Well, it's, they're not going to print money.
• 50:17
  They're going to embrace stable coins to expand the money supply
• 50:21
  and pump bitcoins. It's a, it's a, it's a
• 50:23
  technicality here. So it will totally print more
• 50:27
  money. And then, of course, one more
• 50:29
  quote here. I'm hoping that this drives a
• 50:31
  lot of legislative efforts going forward and fills in those gaps
• 50:34
  in the near term just to give the industry the clarity of
• 50:36
  where they can and cannot act or operate.
• 50:38
  Now, if you're a Bitcoiner, this probably means like nothing to
• 50:42
  you. But from what we've heard since
• 50:45
  like 2017 from a lot of these shit coin promoters, a Coinbase
• 50:48
  in particular, is this idea like, hey, man, we don't have
• 50:52
  any regulatory clarity. There's no clear.
• 50:54
  Rules of the road. Here, you know, the SEC was very
• 50:58
  famously or infamously with under under Gary Gensler just
• 51:03
  doing like rules by enforcement. They basically just like get
• 51:08
  someone in trouble and be like, OK, these are the rules now and
• 51:11
  you're like, wait, what's going? On because with rules means
• 51:14
  definitions. They weren't.
• 51:17
  So good. This they aren't.
• 51:19
  No, they they weren't good. Oh well, no, they weren't
• 51:22
  anything at all 'cause there weren't any.
• 51:24
  Like we just had no idea, like you just said.
• 51:26
  It was the Wild West. But with these quote UN quote
• 51:30
  clarifications come definitions and that means, you know that I
• 51:35
  think that brings us essentially one step closer TLDR to saying
• 51:38
  that Bitcoin is currency and what happens when the US
• 51:44
  recognizes Bitcoin as currency? Yeah.
• 51:49
  Well. Good.
• 51:51
  All right, good. Segue so, so again, one more
• 51:54
  quote here from the block article.
• 51:57
  The, you know, again, nothing's been set in stone in regards to
• 52:00
  what is going to come out or what they are doing.
• 52:03
  I think today will be that defining moment.
• 52:06
  But there has been a lot of speculation going around right
• 52:09
  now to one of the main things that, as Soph just said, I think
• 52:13
  a lot of us are really interested in and it's that tax
• 52:16
  clarity is kind of the number one priority amongst all of us.
• 52:20
  Just to be clear, I don't think that's happening today.
• 52:22
  I I kind of agree. I.
• 52:23
  Giving it a definition will make it one step closer because you
• 52:27
  can change definitions. Definitions change, as we've as
• 52:30
  we've realized in this new modern world.
• 52:33
  Yeah, yeah. What's a doublespeak in real
• 52:36
  time anyways? Quote, I really think that needs
• 52:38
  to be tax clarity needs to be one of the most foundational
• 52:41
  portions of this report and where Washington leads in now I
• 52:45
  we don't know if we will see that, but pulling up this
• 52:49
  headline here. Actually, it was a screenshot
• 52:52
  from the Coindesk article. It was behind a paywall.
• 52:57
  Again, there's there's rules here on YouTube that I can't
• 53:00
  actually share this with you from my own browser, but we did
• 53:04
  get a screenshot coming out of Bitcoin news, which I think is
• 53:08
  the most interesting part about this.
• 53:10
  Like Sophie said, I don't think this is gonna happen today, but
• 53:13
  this is what Coindesk is reporting.
• 53:15
  Again, Eleanor was saying there hasn't been any leaks.
• 53:18
  So there's been a lot of speculation of what is going on.
• 53:21
  Again, people were saying, oh, Bitcoin wasn't even said in this
• 53:25
  whole digital report at all. Again, no leaks.
• 53:28
  We really have no clue. But Coindesk reported this this
• 53:31
  morning when it comes to taxation of crypto, the working
• 53:34
  group recommends that treasury and the IRS review previously
• 53:37
  issued guidance on the tax treatment of activities like
• 53:40
  mining and staking. And there's also a call for
• 53:42
  guidance on corporate alternative minimum tax, CAMT
• 53:46
  and de minimis receipts of digital assets, which would make
• 53:49
  it much easier to use crypto for payments.
• 53:51
  Now, of course, we have seen. Translation.
• 53:55
  Translation what? It basically means that you can
• 53:58
  use up to a certain limit to buy and sell without getting hit
• 54:03
  with a capital gains tax. So Senator Lummus has been kind
• 54:07
  of pushing in recent weeks this idea of like AI think, I think
• 54:11
  it got all moved all the way down to like 200 dollars, $200
• 54:14
  de minimis tax. So you can basically buy
• 54:16
  anything under $200.00 but with a $5000 limit for the whole
• 54:20
  year. So you really can't buy much.
• 54:23
  They would they also. Buy house with.
• 54:25
  That, yeah, you can't even buy rent.
• 54:26
  Can't. Pay rent with that.
• 54:27
  They, they or you can't even use that for rent I.
• 54:31
  Think that covers like most people's grocery?
• 54:33
  No, it's literally she literally said so you can doing with.
• 54:36
  That she said. So you can buy.
• 54:37
  Coffee so maybe it's a jab at you know the B cashiers out
• 54:41
  there but whatever we we want to see something better than that
• 54:44
  personally. But we'll see if this comes out
• 54:47
  later again in one hour. But there was an interesting
• 54:51
  take here from Caitlin long that I I got to bring it up.
• 54:54
  You guys yell at me about memes all the time, but you know,
• 54:57
  Caitlin Long dunking here. So quote, tweeting this tweet by
• 55:01
  Eleanor. Caitlin long goes hilarious.
• 55:03
  Trump scheduled this pro crypto announcement at the White House
• 55:07
  at the exact same time as Jay Powell's post FOMC press
• 55:11
  conference trolling Powell. Gee, I wonder what the
• 55:14
  president's working groups report will say about the Fed's
• 55:16
  role in all the hashtag D banking.
• 55:20
  So hey, some key fabs going on here, you know, some
• 55:26
  entertainment factor going on. I'm kind of leaning on the
• 55:31
  nothing ever happened side here. I'm, I don't know, maybe I'm
• 55:36
  just so burnt out from politics and not trusting the politicians
• 55:41
  that I just, I'm, I'm starting to think this is all going to be
• 55:44
  worse for us than better. I do like the narratives around
• 55:48
  it. It does.
• 55:49
  I just like that people are starting to care about Bitcoin
• 55:52
  like that at least we're at least they are talking about it.
• 55:55
  Whereas the cycle before, you know, they they still thought
• 55:59
  that this was like pirate money. Yeah, Jet Ski should be the
• 56:03
  threat. They should.
• 56:03
  Totally be the threat like yo they should make it like
• 56:09
  $100,000 minimum that would be like a decent.
• 56:14
  Well, it that would have historical context.
• 56:17
  Remember when they did the $10,000 Fiat kind of cash limit
• 56:21
  at the time I think it was like $700,000 or something like that.
• 56:26
  So like there is historical precedent here.
• 56:29
  If we are going to do inflation adjusted numbers, like if they
• 56:33
  did that, that's cool. Like that's that's golden
• 56:37
  ticket. We are off to the races.
• 56:39
  Bitcoin is literally never looking back.
• 56:41
  We just literally won landlords. Would start accepting Bitcoin.
• 56:46
  Yeah, literally, like we'd be able to live on our Bitcoin and
• 56:50
  that would I that, in my opinion, that's what would make
• 56:53
  the US the Bitcoin superpower of the world.
• 56:55
  Now, we have seen this play out in various jurisdictions, a
• 56:59
  couple jurisdictions around the world.
• 57:01
  So there's still hope. Maybe it's a non zero chance and
• 57:04
  it's a slim chance of hope here, but you know, maybe we'll get
• 57:07
  there. We'll get there.
• 57:08
  Forward we are all crawling towards.
• 57:11
  Centimeter. Forward Great American Bitcoin
• 57:14
  dreams. Centimeters.
• 57:16
  Forward and we're a little bit closer than we were before.
• 57:19
  By the way, shout out to the 2932 viewers.
• 57:24
  Smash the like button if you're enjoying the show and also our
• 57:30
  560 viewers. Live viewers, guys.
• 57:36
  Nico's not gonna fire me. On a rumble dude.
• 57:39
  Also definitely Nico's wife. Look at this she she's already
• 57:43
  plugging the numbers. Yeah, obviously we love the nut
• 57:46
  way. We love views on.
• 57:48
  This we do. We love you guys.
• 57:49
  No, we do love you guys. We love you guys.
• 57:51
  It means the world to us. Anyways, let's get into the
• 57:55
  culture because I think if you connect the ETF in kind,
• 57:59
  redemption news, which is potentially bullish for buying
• 58:04
  real Bitcoin. With this take from Max Keiser,
• 58:07
  who's been literally screaming this from the rooftops for a
• 58:10
  while, maybe we are setting up for the mother of all supply
• 58:16
  shocks. Here we go.
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  freedom. OK, first of all, thank you so
• 1:00:23
  much super chat. Sophie is a great singer.
• 1:00:27
  Can confirm. But hold on, he followed this up
• 1:00:30
  Sophie and I was going to say Ron P single handedly funding my
• 1:00:34
  coffee addiction, but he is single handedly funding Sophie's
• 1:00:39
  boar's Head Chipotle Mayo addiction.
• 1:00:42
  It's delicious. Highly recommended.
• 1:00:44
  I don't know, It's probably not seed oil free, but like, you
• 1:00:47
  know, live a little, live a little it's.
• 1:00:49
  Really not seed oil free but I'm not going to get.
• 1:00:53
  Started. It's so good, guys.
• 1:00:55
  Honestly so good we put it on everything.
• 1:00:57
  Like literally, you know, we, we do our best to give you guys the
• 1:01:01
  whole culture is going to be about boar's head Chipotle Mayo.
• 1:01:04
  No, I'm trolling. Please sponsor us, dude.
• 1:01:06
  That'd be great that. 'D.
• 1:01:08
  Be sick. We, you know, we do our best to
• 1:01:10
  give you guys. Yeah, wow.
• 1:01:12
  We do our best to ensure that we are promoting healthy topics
• 1:01:16
  here. You know, the some good signal
• 1:01:19
  and information. But you know, if you want to
• 1:01:22
  live a little bit, get yourself some boys head mail.
• 1:01:25
  Anyways, that's not what we're going to be talking about.
• 1:01:26
  OK, That we just went on a 2 minute tangent about Mayo,
• 1:01:30
  Chipotle, Mayo again. Actually, I'm not going to plug
• 1:01:33
  them. Nico's going to get mad because
• 1:01:34
  they don't sponsor us anyways. There's also Sir Kensington.
• 1:01:39
  Just so chill, stop plugging stuff for free.
• 1:01:43
  I'm pitting them against each other.
• 1:01:44
  They need to fight to the death to sponsor.
• 1:01:47
  OK, OK, enough Chipotle mail. So you guys have probably been
• 1:01:52
  seeing or maybe you have it, maybe you're not on Twitter,
• 1:01:55
  maybe you're not chronically online like Sophie and I are.
• 1:01:58
  Yeah, we, we joke about that all the time Anyways, but Sailor
• 1:02:01
  came out again yesterday and he did a huge, another huge buy in
• 1:02:07
  Bitcoin. So they bought 21,000 Bitcoin
• 1:02:10
  for $2.4 billion. Rizza saying the greatest of all
• 1:02:14
  time. We're going higher now.
• 1:02:18
  Again, why am I talking about this?
• 1:02:19
  I'm not really just trying to update you on the Sailor, you
• 1:02:22
  know, buying tracker chart because we've been doing that
• 1:02:28
  for a while now. I think we're all we're like,
• 1:02:30
  yeah, OK, you know, Sailor gets free money, basically free money
• 1:02:35
  to buy Bitcoin. I wish I had that.
• 1:02:37
  I think we're just getting jealous at this point of like,
• 1:02:39
  you know, leave. Leave some for the rest of us,
• 1:02:41
  bro. But Kaiser's been on this tip
• 1:02:44
  for a minute. I know Ruston's been on this tip
• 1:02:47
  for a minute. He's been talking about this on
• 1:02:49
  his show for a while now. We've loosely touched about it
• 1:02:53
  on this show. And then Max Kaiser just double
• 1:02:56
  s down on it. He's been going bananas on this,
• 1:02:59
  this idea of a forced halving, and I absolutely love it.
• 1:03:02
  So Sailors scooping up all the Bitcoin on exchanges and forcing
• 1:03:06
  a move higher as part of his plan to fabricate a halving
• 1:03:09
  ahead of schedule, effectively eliminating a down cycle.
• 1:03:13
  The other Bitcoin treasury companies will find it very
• 1:03:15
  difficult to source Bitcoin. In fact, Sailor may have just
• 1:03:19
  set the stage for $100,000 God Candle strategies M NAV will hit
• 1:03:25
  a new all time high. Now I do want to go back here
• 1:03:29
  because one point actually, you know, Kaiser's making two I
• 1:03:33
  think important points here. And one point is again, remember
• 1:03:38
  how much Bitcoin Sailor just bought 21,000 how much Bitcoin
• 1:03:42
  he's bought this year? And remember how much Bitcoin is
• 1:03:46
  on the exchanges? Roughly 2.1 million.
• 1:03:49
  He, you know, Sailor has doesn't have 2.1 million under his
• 1:03:53
  control yet, but he is buying a lot of Bitcoin.
• 1:03:58
  Now the interesting thing is this idea of a force halving and
• 1:04:03
  everyone knows or you're if you're here, you probably know
• 1:04:05
  about the halving every four years the Bitcoin supply gets
• 1:04:07
  cut in half. What Kaiser has been saying is
• 1:04:11
  with all the these new corporate treasuries coming into the space
• 1:04:14
  again, they haven't deployed all the capital that they have
• 1:04:18
  potentially raised yet to buy the Bitcoin.
• 1:04:21
  But if you do add up all of the Bitcoin, they supposedly bought
• 1:04:26
  again, 3.64 million Bitcoin, a lot of these buys I don't think
• 1:04:32
  have fully been actualized yet, but we're starting to see that
• 1:04:36
  increase. I don't think they have closed
• 1:04:38
  their funding. They haven't been able to deploy
• 1:04:40
  all of this capital, but we are. Starting to see.
• 1:04:44
  That there is this supply shock on the horizon.
• 1:04:48
  Now whether you think we're being hyperbolic that there will
• 1:04:50
  be a supply shock, who knows what's going on really and who
• 1:04:54
  knows you know what price people are going to sell their Bitcoin,
• 1:04:58
  buy the Bitcoin, etcetera, etcetera.
• 1:05:00
  But with the amount of pressure we are seeing this idea of a
• 1:05:04
  synthetic halving which is so much capital coming into the
• 1:05:08
  space. And remember not that much
• 1:05:10
  Bitcoin is released every day and every year now.
• 1:05:13
  And of course, that's going to get cut in half again in about
• 1:05:17
  what is it. Two years, I believe.
• 1:05:19
  Let me. I don't know if I have it over
• 1:05:21
  here. I don't think I have it on hand.
• 1:05:23
  I haven't checked it in a while, but you know, the Halving's on
• 1:05:26
  the horizon. Let me see.
• 1:05:28
  Can I find it? No, not quickly.
• 1:05:33
  I'm stalling, totally stalling right now.
• 1:05:39
  Yeah, totally stalling. I can't find it.
• 1:05:42
  I don't know where it. Is anyways you get the picture
• 1:05:46
  with less Bitcoin being deployed into the market, more capital
• 1:05:50
  coming in. This is kind of going towards
• 1:05:53
  the idea and maybe I'm just making the case for myself
• 1:05:57
  recently that this time is different.
• 1:05:59
  You know, people are yelling at me that that I make stuff up and
• 1:06:02
  I'm a liar because I update my points of view with new
• 1:06:07
  information coming into the market like a normal human
• 1:06:09
  being. What a concept.
• 1:06:11
  Yeah, what a concept here, you know, holding me to stuff.
• 1:06:14
  I said like a year ago when there is more information out
• 1:06:18
  there to update your point of view and your mentality, It's
• 1:06:21
  it's a crazy outlandish concept here.
• 1:06:26
  It is feeling like the amount of capital coming into Bitcoin, it
• 1:06:32
  might be fundamentally changing the course of how Bitcoin moves.
• 1:06:36
  And obviously I want to see this because I want to see like I'm
• 1:06:40
  dopamine fried guys like I. I'm.
• 1:06:42
  Trying to go back to 2017. Can we get some pumping action
• 1:06:46
  here? I am dead inside.
• 1:06:48
  I need some Bitcoin pumping to feel something again.
• 1:06:51
  This up a little bit and then sideways forever I need.
• 1:06:54
  To touch some grass, bro. Dude, I really do.
• 1:06:57
  I didn't see Optic ink on that list.
• 1:06:59
  Dude, I'm broke. I I, I get a dollar and I buy
• 1:07:02
  Bitcoin. That's dude, my dollar is not
• 1:07:04
  holding up anymore. I can't hold up the market on a
• 1:07:07
  dollar a day anymore. OK, I'm doing my best.
• 1:07:10
  Well, here we go. Thank you so much, Mr. Thomas.
• 1:07:13
  Yeah, having in two years and 257 days.
• 1:07:16
  So that means the Bitcoin supply that we are currently seeing a
• 1:07:20
  day and a year will get cut in half.
• 1:07:22
  And with the amount of capital coming in and also the interest
• 1:07:25
  that is potentially on the horizon, the the, you know,
• 1:07:29
  tectonic shift that is happening around the narratives of
• 1:07:32
  Bitcoin, it's hard to see how the market structure will kind
• 1:07:37
  of maintain the way it has. We have what three data points
• 1:07:41
  on the Bitcoin chart, 33 bull cycles, and we're all thinking
• 1:07:45
  it's going to play out like it has.
• 1:07:48
  I don't know, man, I, I'm kind of leaning into what Kaiser's
• 1:07:51
  saying synthetic having coming thanks to Sailor and all of the
• 1:07:55
  strategy clones. I don't know what's worse.
• 1:07:59
  Copycats are clones, but. I've never, I've never actually
• 1:08:02
  thought about like seeing the halving in terms of like not
• 1:08:07
  the, the like mining side of Bitcoin, but just like the
• 1:08:12
  supply, right? That's like what what this is
• 1:08:15
  all about. I have to clarify because
• 1:08:17
  sometimes I'll talk like very confidently, but actually have
• 1:08:20
  no idea what I'm talking about and people in the chat will call
• 1:08:22
  me out and like rightfully so. So I have to clarify, what does
• 1:08:28
  that mean that like all these exchanges are just going to end
• 1:08:31
  up having to buy Bitcoin from Sailor?
• 1:08:33
  Like what? What is Sailor going to do now?
• 1:08:35
  This Bitcoin? That is the like, what?
• 1:08:38
  What's his $42 million question here is what is Sailor going to
• 1:08:44
  do in the end game? It does seem like he's trying.
• 1:08:47
  He's not going to leave his money to anybody.
• 1:08:49
  He doesn't have a wife, he doesn't have kids.
• 1:08:51
  He's just, he says he's going to die with his Bitcoin.
• 1:08:53
  So like he's. Starting a central bank He is
• 1:08:58
  the new central banker he's our. New that just went dark.
• 1:09:01
  He's our new overlord. Be nice to sailor 'cause he will
• 1:09:05
  have all the capital. He will be the richest man in
• 1:09:07
  the world very shortly. He's a very nice man.
• 1:09:11
  I've met him before and he's very sweet, has kind eyes.
• 1:09:15
  I thought you were trolling. Agreed.
• 1:09:16
  I haven't met him. I haven't met him, but it does
• 1:09:19
  seem like they actually kind of connecting this to what Jack
• 1:09:24
  Mueller said in the beginning is, you know, what Jack Mueller
• 1:09:27
  thinks is going to differentiate 21 capital from micro strategy
• 1:09:32
  is that they are trying to, you know, create Bitcoin products.
• 1:09:35
  Now you could argue that Sailor is making Bitcoin products.
• 1:09:38
  They are just tapping into traditional capital markets,
• 1:09:42
  which is obviously what I think is a very beneficial.
• 1:09:46
  I I think you guys saw me learning on the show live last
• 1:09:48
  week when he dropped the strike, no sorry stretch product.
• 1:09:54
  And I was like, wait, like, what exactly is he doing?
• 1:09:57
  I know a lot of a lot of my friends in the chat were saying
• 1:09:59
  he's just creating more paper Bitcoin.
• 1:10:01
  This is just VI games. And I'm like, no, I think he's
• 1:10:04
  creating the straws to drink the milkshake of the traditional
• 1:10:08
  financial system. So it's hard to see what his end
• 1:10:11
  game is, but his current game name is a bridge from the trad
• 1:10:15
  Phi, literally zombie capital markets and bringing that
• 1:10:18
  capital into Bitcoin. So who knows what what his final
• 1:10:22
  end game is to be honest. But he is going to have a huge,
• 1:10:28
  huge treasure chest. And maybe maybe part of that
• 1:10:31
  incentive isn't just to to hoard all of this Bitcoin because I
• 1:10:36
  think at some point he's going to realize, like, what am I
• 1:10:38
  going to do with all of this? And part of his legacy might be
• 1:10:42
  to spread some of that Bitcoin around to some of the biggest
• 1:10:45
  companies in the world and have them maintain these Bitcoin
• 1:10:50
  strategic reserves so that they're permanent part of how
• 1:10:54
  companies now operate, you know? Yeah, sorry, sorry.
• 1:10:57
  I was looking at Rumble. Let me pull it out.
• 1:10:59
  Let me pull it out. You guys, bro Geo Ridge, bro
• 1:11:06
  Sailor will be running continents in the near future.
• 1:11:09
  Totally 100%. Yeah, no, it's, it's very
• 1:11:14
  interesting. Again, I think, I think what a
• 1:11:18
  lot of us bit corners have to do is kind of our like mental.
• 1:11:23
  It's like spring cleaning mentally.
• 1:11:25
  What are you gonna do with that Bitcoin Again?
• 1:11:27
  It's the Peter Parker. What's uncle?
• 1:11:29
  Is it Uncle Ben? Yeah, Uncle Ben.
• 1:11:31
  With great power comes great responsibility.
• 1:11:34
  Yes, maybe your Bitcoin holdings right now aren't life changing
• 1:11:38
  crazy money, but again, using some sailorisms here, every
• 1:11:42
  Bitcoin you don't buy is a $13 million opportunity cost.
• 1:11:45
  So if you want to kind of start thinking about where you
• 1:11:50
  potentially could be in the future, just price whatever
• 1:11:53
  holdings you are by 13 mil and then start thinking of what you
• 1:11:57
  would like to do with that money.
• 1:11:59
  This is what we have to do as bitcoiners is not necessarily
• 1:12:02
  just hoarding Bitcoin to fulfill our greed.
• 1:12:05
  It's like, what do we want to do with that money?
• 1:12:07
  We've all committed here to try to give you guys the top news,
• 1:12:11
  educate you guys on news, learn on the job and and make sure
• 1:12:14
  that we are updating our mental frameworks as we go along so we
• 1:12:18
  can give you guys the best insight and analysis on the
• 1:12:22
  Bitcoin stuff. But we really want to, you know,
• 1:12:26
  do Bitcoin media and and further go as far as we can with the
• 1:12:29
  media stuff so we can combat all of the legacy media companies
• 1:12:34
  and give us some good stuff out there.
• 1:12:36
  I don't know what that goal is for you guys.
• 1:12:38
  You know, I know Sophie just wants to chill and have babies
• 1:12:40
  and and buy buy, you know, nice things for the house, which is
• 1:12:44
  which is good house. You know, home making is the
• 1:12:46
  best job period for actually, I can't.
• 1:12:49
  I don't know if I can even say that.
• 1:12:50
  But yes, you know, mothers are important.
• 1:12:53
  Listen, I highly recommend I, I kind of see Sailor is like the
• 1:12:58
  ultimate influencer right now. Like he's not after these like
• 1:13:02
  small brands. He's after huge companies that
• 1:13:06
  are worth like millions and sometimes billions of dollars
• 1:13:10
  and who are now looking at having a Bitcoin strategic
• 1:13:13
  reserve because of him. I would call that being the
• 1:13:16
  ultimate influencer. So for now, I think, and you
• 1:13:20
  know, on a smaller scale, like he influences a lot of people, a
• 1:13:23
  lot of plebs to buy as much Bitcoin as you can.
• 1:13:26
  Saying that every time you don't buy a Bitcoin, you're wasting a
• 1:13:30
  $13 million opportunity cost is actually like very powerful.
• 1:13:38
  So for now, I think that he is like the world's biggest
• 1:13:41
  influencer as like kind of thought he is that sounds but
• 1:13:45
  like he is. And in the future, I think that
• 1:13:48
  the way that he maintains that influence and he maintains his
• 1:13:51
  legacy is by kind of making sure that there is enough Bitcoin for
• 1:13:57
  all of these companies to maintain a strategic reserve to
• 1:14:00
  carry that on for generations to come for their kids, for, you
• 1:14:05
  know, the future generations who aren't going to be able to
• 1:14:09
  depend on a Fiat system because it's literally crumbling to the
• 1:14:13
  ground. It's making life worse.
• 1:14:15
  It's making life more expensive. It's degenerating our moral
• 1:14:19
  values. So you know, it, it goes way
• 1:14:22
  beyond, you know, the, the initial opportunity cost that he
• 1:14:26
  describes, it goes all the way to, and I talk about this in my
• 1:14:30
  video like, you know, your moral character and what we value as
• 1:14:33
  the human race at the end of the day.
• 1:14:36
  True, true. All right, guys, that is the
• 1:14:40
  wrap of the show. But we do have one last plug for
• 1:14:44
  Sophie. Dark Maven Gaming says, can we
• 1:14:48
  get a Sophie show shilling Bitcoin more often?
• 1:14:50
  Yes, this is what this is what we're doing.
• 1:14:53
  I'm gonna have another episode come out next week, so stay
• 1:14:58
  tuned for that. I really want you guys to watch
• 1:15:00
  that video. Let me know how I did.
• 1:15:02
  Be brutally honest. I love feedback.
• 1:15:06
  And I want you to tell me what it is that you want me to cover.
• 1:15:09
  Because, you know, if I start talking about what I want, I'm
• 1:15:12
  going to start talking about having babies and like the best
• 1:15:15
  makeup products and things that I'm actually into.
• 1:15:18
  But that's not what I want to talk about.
• 1:15:20
  I want to talk about what you're into and I really want to learn
• 1:15:24
  with my audiences as as I go along.
• 1:15:27
  So if you guys could do that for me, hit the like button, hit the
• 1:15:31
  subscribe button on this show as and then go check out my show
• 1:15:35
  and let me know how I did. Let's go.
• 1:15:38
  All right, guys. So coming.
• 1:15:40
  It's going on anyways, guys. We will be back tomorrow same
• 1:15:44
  time as always. Officially 12:15 PM,
• 1:15:48
  unofficially 12:30-ish. Stay in the live.
• 1:15:53
  Stay in the live shot at 12:15. It gets really fun.
• 1:15:57
  Anyways guys have a good one. What's the what would I always
• 1:15:59
  say? Touch some grass, eat some good
• 1:16:01
  food, call your loved ones, all that good stuff.
• 1:16:03
  We will see you tomorrow. Peace out.
• 1:16:05
  Today's episode was brought to you by bitcoinwell.com, a
• 1:16:08
  Bitcoin only platform on a mission to enable financial
• 1:16:11
  independence.