Latest / Simply Bitcoin / $4.2T Bank Makes A Bitcoin Backflip! | EP 1114

Transcript

$4.2T Bank Makes A Bitcoin Backflip! | EP 1114 · Simply Bitcoin

0:00
Yo, a $4.2 trillion bank that has publicly attacked Bitcoin
0:06
looks to be making a massive Bitcoin backflip.
0:10
This bank is now claiming that both gold and Bitcoin could
0:13
benefit from a Trump election. But gold has lost $340 billion
0:19
in market cap since the election, while Bitcoin has
0:21
pumped by 13%. And This is why I believe
0:26
Bitcoin is on the path to flipping gold's market cap and
0:28
becoming a $700,000 per coin asset.
0:33
We are winning boys and girls. And today we're going to explain
0:36
why that day could be coming a lot faster than you think.
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Of course we're always bullish here, but let me bring up our
0:42
fearless leader in the Co host seat, Nico.
0:46
And of course our guest for today we got Alan Hoddle on
0:49
Twitter, AKA Alan Helm, director at Bitcoin magazine.
0:53
Let's get into this new story guys.
0:55
So first, of course, I got to give you guys the context here.
0:58
If if you guys aren't in the Bitcoin space, you haven't been
1:01
following the Bitcoin space for a long time.
1:02
Maybe this stuff has been, you know, flying past to radar.
1:06
But historically, what bank are we talking about?
1:08
Of course, JP Morgan Chase and the CEO Jamie Dimon has hasn't
1:14
been shy about his hatred towards Bitcoin.
1:17
Historically, he's he doesn't like Bitcoin.
1:20
I have a few headlines here just to give you some context on how
1:23
much he doesn't like Bitcoin. This one is by far the funniest
1:27
headline that I heard come out of Jamie Dimon where he
1:30
literally said that he would fire in a second anyone caught
1:34
trading Bitcoin at JP Morgan and that's when Bitcoin was at
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$4000. Like incredible.
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Just just love to see the bankers really not like Bitcoin.
1:44
And then of course, this year, I'm sure actually if you've been
1:47
watching the show, you know, we've been covering this and
1:49
Jamie Dimon for a long time. This year was basically like,
1:52
I'm tired of getting asked about Bitcoin.
1:55
This is the last time I'm going to talk about Bitcoin.
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And yet he continues to talk about Bitcoin.
2:00
And now we're seeing that coming from JP Morgan.
2:04
They're starting to change their tune.
2:06
So we got this article here from The Block headline Bitcoin to
2:10
benefit from Trump presidency and a micro strategies plan.
2:15
You heard that correctly and this is coming from JP Morgan
2:17
analyst. So of course we've been covering
2:20
this a long time on the show that yes, Bitcoin doesn't need a
2:23
presidential candidate, Bitcoin doesn't need politicians, but a
2:26
lot of money's been sitting on the sidelines waiting for the
2:29
election to happen again. Elections mean uncertainty in
2:33
the economy and now that we have some certainty, it looks like
2:36
the capital flowing back into Bitcoin.
2:38
So quick take from this article. Of course, the Trump victory is
2:42
expected to benefit both gold and Bitcoin, JP Morgan and
2:45
Lissen. And of course, Bitcoin is
2:48
predicted to get a further boost because Michael Saylor, the giga
2:51
chat out there is just scooping up so much Bitcoin.
2:54
He plans to buy what I forget what the number was, but $42
2:57
billion of Bitcoin, which was I think 40 million per day of
3:01
buying pressure in Bitcoin for the next foreseeable couple of
3:04
years. The Bitcoin price floor is being
3:07
set in real time. But I think the big take away
3:10
from this article is something that we've been saying on simply
3:13
Bitcoin for a while. We've been talking about this on
3:16
Bitcoin Twitter for a long time. And it is the uncertainty of the
3:20
status of the US dollar. You know, we've seen BRICS
3:24
Nation start to leave the the US Treasury market.
3:27
We're seeing talks about people trying to create new settlement
3:31
markets. The the signals the same people
3:34
are looking at U.S. debt and they're like, I don't know if I
3:37
want this because it's not getting the returns it wants to.
3:40
And here we have a JP Morgan analyst essentially saying the
3:42
same thing. And if you read closely, they're
3:46
talking about the micro strategy strategy here.
3:48
So here we go reading this article.
3:49
With Donald Trump now having won the US presidency, both gold and
3:53
Bitcoin are expected to perform well, according to JP Morgan
3:56
analyst who highlighted the quote debasement trade.
4:00
Again, the debasement trade, and this is coming from AJP Morgan
4:04
analyst, these guys are as as deeply Fiat as you can be.
4:08
And even they are talking about the quote UN quote, debasement
4:11
trade. So, getting into the the the
4:14
technicalities of the debasement trade, this refers to an
4:17
investment strategy that benefits from the devaluation or
4:22
weakening of a currency, typically due to inflationary or
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expansionary fiscal policy. In this trade, investors buy
4:29
assets like gold and Bitcoin, which are seen as stores of
4:31
value that can maintain their worth even as a currency's
4:35
purchasing power decreases. The debasement trade is likely
4:39
to be reinforced by terrorists and geopolitical tensions, as
4:42
well as an expansionary fiscal policy.
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JP Morgan analysts said on Wednesday, quote, we do not see
4:49
the initial negative market reaction by gold as a rejection
4:52
of the debasement trade under Trump win.
4:54
After all, Bitcoin, the other component of the debasement
4:57
trade, rallied after the Trump win.
5:00
Again, guys, we've been telling you this has been happening for
5:03
a while now. We're getting it from JP Morgan,
5:05
literally the 5th largest bank in the world and their analysts
5:08
saying the same thing. The dollar is being debased.
5:11
It will continue to be debased and they're starting to get
5:15
bullish and look towards alternatives to saving in U.S.
5:19
Treasuries and in the dollar. And here we go.
5:22
Last quote here before we kind of talk about this.
5:25
When asked if JP Morgan has a 2025 price target for Bitcoin,
5:29
the JP Morgan analyst, I'm not going to try to pronounce your
5:32
name. Apologies, quote.
5:33
We are positive on Bitcoin into 2025, but declined to provide
5:38
provide a specific price target. You heard that correctly, boys
5:42
and girls, not only are they talking about essentially doing
5:46
exactly what Michael Saylor is doing, this quote UN quote
5:49
debasement trade where you take out Fiat loans, you know, you
5:52
take out debt, but instead of buying U.S.
5:54
Treasuries, you buy Bitcoin. Yes, a lot of the gold bugs and
5:58
I, I would argue the dinosaurs in Tradfly are still looking as
6:02
at gold as the, you know, the asset that you need to get into.
6:06
We argue that the best, best thing to be holding is Bitcoin.
6:09
And if you can take out Fiat loans out here, you're not
6:13
taking Fiat loans to buy gold, you're taking it to buy Bitcoin.
6:17
And we're seeing that even at JP Morgan, which again,
6:20
historically has fought Bitcoin, they literally don't like to
6:24
talk about Bitcoin. Now they're changing their tune
6:26
and they're like, yeah, I think 2025 is going to be bullish for
6:31
Bitcoin. I think I'm going to be taking
6:33
out some loans and trying to buy some Bitcoin.
6:35
So they've, we've been actively fighting Bitcoin, but you can
6:38
see that the trend is changing now.
6:40
Yes, capital flowing into the markets and yes, everyone has to
6:44
have a Bitcoin strategy now. And if JP Morgan's telling you,
6:48
on the one hand, I can hear Bitcoiners saying like, look,
6:51
now we're now we're taking, you know, market signals from JP
6:54
Morgan. Like what's going on here?
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It's like, no, the writing is on the wall.
6:58
People are dropping U.S. Treasuries, BRICS nations are
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dropping U.S. Treasuries.
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U.S. Treasuries are getting, you
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know, minimal turns. You can't get ahead by saving in
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the quote UN quote riskless assets anymore.
7:12
You need to start buying some Bitcoin.
7:14
And the fact JP Morgan is talking literally in the same
7:17
terms as Michael Saylor. I don't know, guys.
7:20
It's just starting to make me feel real bullish on where we're
7:22
heading 2025. And hey, look, we take signals
7:26
from everyone here, whether it's the bankers out there, whether
7:29
it's some skeptics, whether it's gold bugs, whether it's Fiat
7:32
Maxis, they're all telling us the same thing.
7:35
The dollar is being debased and you need to hold something that
7:38
cannot be debased. Of course, 21 million hard cap
7:41
in Bitcoin. This is the way as everyone
7:44
makes fun of me on the show, I I always butcher the meme here,
7:47
but Bitcoin is the fastest race in the horse and you might want
7:50
to get some just in case it's catching on.
7:54
OK, All right, let's let's take it to Allen here, because I know
8:00
you are working with Bitcoin for corporations.
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And yes, you know, JP Morgan technically is is a bank, it's a
8:06
corporation. But we're seeing that the signal
8:08
is catching on that institutional managers, you
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know, Bitcoin is being taken seriously now.
8:13
And I think people are underestimating what that impact
8:16
is not only on the price, but for the adoption levels of
8:20
Bitcoin. So Alan, what is your thoughts
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when you hear stuff like this where people coming from Jamie
8:25
Dimon's firm talking about, wait, maybe we want to buy some
8:28
Bitcoin. Maybe we need to get there's
8:29
some Bitcoin here. It's it's going to perform
8:31
really well in 2025. Yeah, man.
8:34
Well, First off, I appreciate you guys having me on the show.
8:36
It's awesome to be here. But yeah, you know, as it
8:39
pertains to Jamie Dimon and JP Morgan, you know, I, I always
8:43
wanted to give Jamie Dimon the benefit of the doubt, right?
8:46
Because it's in his best interest to downplay Bitcoin.
8:49
And if if he's secretly accumulating on the side, right?
8:53
That was the opinion I used to have have of him until I caught
8:57
him. You know, I think it was at
8:59
Davos last year or a year ago and he called Bitcoin a pet
9:02
rock. And his explanation of just like
9:05
Bitcoin, like the block chain of a whole is like so rudimentary.
9:07
I was like, holy crap, like this guy actually has no idea like at
9:11
all what he's talking about Bitcoin.
9:14
And then you have, you know, the Bitcoin ETFs come out right?
9:17
And you have Larry Fink, who actually comes off very well
9:19
educated and like speaking on the matter.
9:23
You can kind of see where there's like starting to be some
9:25
panic, especially when you have guys like Bannack too.
9:27
Matthew Siegel, the other the other day was, was on CNBC, you
9:32
know, chatting up their predictions over at Bannack.
9:34
And you know, like predicting like 300, three, 100K Bitcoin
9:37
towards the end of the year. It's, you know, it's one of
9:41
these things where it's like it's, it's in a corporate in a
9:44
corporate sense. It's not taboo to talk about
9:47
Bitcoin. And it's not even that it's not
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taboo, right? It's, it's, it's almost fiscally
9:53
irresponsible to not be considering how you're going to
9:57
integrate Bitcoin into your treasury strategy.
10:00
And so in working, you know, closely with Michael Saylor,
10:05
Sharish Joda and the rest of the MicroStrategy team on this
10:07
Bitcoin for Corporations initiative that we launched
10:10
earlier this year in July at Bitcoin 2024.
10:14
I wish I could like talk about some of the bigger companies we
10:17
are having conversations with, but there are tons and tons and
10:21
tons of other medium to small cap publicly traded companies,
10:23
not just in the US, but around the globe.
10:26
When I can talk about Jet King, right?
10:28
One of the one of the largest traded companies in India, you
10:31
know, reached out and it's the it's the same initial ask when
10:36
people, you know, talk to us, it's like, hey, I've I've see
10:40
the MicroStrategy playbook. I see what metaplanet did to
10:43
replicate the MicroStrategy playbook.
10:45
I want to be the MicroStrategy of India.
10:48
I want to be the MicroStrategy of Korea.
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I want to be the MicroStrategy of lat Am right.
10:54
So you have all these CFOSCEOS who are literally watching, you
10:58
know, just MicroStrategy stock here in the US pump crazy.
11:03
You know, not that I'm advocating that you should, you
11:05
know, buy, buy stocks over Bitcoin, but from a corporate
11:09
treasury's perspective, right? Seeing what these, these what
11:12
micro strategy has been able to do for their shareholder value
11:15
and not only their shareholder value, but in return, you know,
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draw renewed interest into some of their actual products that
11:21
they have that they can sell. I think, you know, in their
11:23
quarterly report, I think they said they had like a 93% gain
11:26
subscription, which is just insane, right?
11:30
I, I think we're just at this point, right?
11:32
Like I said earlier, that like from a fiscal standpoint, if
11:34
you're a CFOACEO and you're managing treasury and value,
11:38
like you cannot ignore the importance of placing Bitcoin on
11:42
the balance sheet, especially as we're approaching this new
11:44
administration as well with Trump and you know, they're
11:49
coming in to institute of Bitcoin strategic reserve.
11:52
I really think we're at like this suddenly moment where like
11:55
there's gonna be this not arms race, but accumulation race, not
12:00
just at the corporate level, but at the nation state level and
12:03
we're going to see just everyone do anything they can to
12:06
accumulate more Bitcoin. It's hard not to be bullish.
12:10
Yeah, once the money printer turns on to accumulate Bitcoin,
12:14
Oh my God, it's it's going to be get out of control.
12:17
Absolutely out of control. Anyways, Nico, we've been
12:20
covering Jamie Dimon on this show for a while.
12:23
We we, you know, as much as we don't like the big banks, we
12:26
always talk about them. So what's your thoughts on AJP
12:29
Morgan analyst coming out and being bullish on Bitcoin?
12:32
Doing a literal massive Bitcoin black flip.
12:35
Just doing tricks on the thing out here now.
12:38
And they're like, yeah, we're bullish on Bitcoin.
12:40
So first of all I I want to give a shout out to Opti and the host
12:43
seat. Absolutely crushing it these
12:45
last couple of days while I take a mental break.
12:48
Surprisingly, guys, it's pretty hard to, like, run a company and
12:52
host the show at the same time. Juggling that is, like, kind of
12:55
difficult. So shout out to Opti for being
12:57
an absolute legend. But yeah, I mean, look, everyone
13:00
eventually bows down to the king.
13:03
Jamie Dimon is no different. I mean, you could take the Peter
13:05
Schiff approach, but you're going to have fun staying poor
13:08
and you're going to make yourself look like an idiot in
13:10
the long run. You know, because number go up
13:12
does what number go up does best.
13:13
And it doesn't surprise me. I think eventually everyone is
13:17
is is is there. You're not going to have a
13:20
choice but to have big have some type of exposure to Bitcoin
13:25
because if you don't, you're at a competitive disadvantage to
13:28
people, to companies or countries that do.
13:32
We saw this in a Microsoft kind of like press release where
13:36
they're basically making the case, and I'm, I'm paraphrasing
13:39
here, but they were like, look, MicroStrategy is a tech company.
13:43
We're a tech company, but MicroStrategy stock has
13:46
outperformed Microsoft stock by three, 100%.
13:51
Why? Well, it's because they're
13:52
holding Bitcoin on their balance sheet.
13:54
I know I've adopted a Bitcoin a a standard.
13:57
I know Opti has adopted a Bitcoin standard, simply is on a
14:00
Bitcoin standard. I'm pretty sure Alan is on a
14:02
Bitcoin standard as well. And I'm telling you, it is a
14:05
freaking cheat code. It is a cheat code to life.
14:09
Everything gets progressively cheaper.
14:11
Like it's insane, right? And most of the world hasn't
14:14
waken up to this reality. So I echo what Alan is saying.
14:17
I completely agree. I think we're on the cusp of
14:20
something we've never witnessed before in Bitcoin's history in
14:26
terms of adoption, in terms of number go up, in terms of
14:30
corporate adoption, in terms of, of nation state adoption.
14:34
You're, you're seeing it, you're seeing the little rumblings you
14:37
had Russia look, Russia like, you know, Putin isn't exactly,
14:42
you know, this like, OK, I'm going to allow and legalize
14:46
Bitcoin mining out of the kindness of my heart.
14:49
He's doing it because he sees the the writing on the wall and
14:51
he's like, wait a second, like we can't get left behind.
14:55
If the US is, you know, has this giant Bitcoin mining industry
14:59
like, you know, and we have all this excess energy in Russia, we
15:03
have to jump on the bandwagon. You know, there's rumblings
15:06
coming out of the Middle East. I'm sure there's going to be
15:08
some announcements, the upcoming Bitcoin conference that is being
15:12
hosted in Abu Dhabi by our friends over a Bitcoin magazine.
15:15
Like you know guys that we are on the verge of I think one of
15:20
the most historical bull markets we've ever witnessed.
15:23
I think we all have a little bit of PTSD from 2020 and 2021 where
15:28
the bull market was a little bit, you know, it was a little
15:31
bit let a little let some of us down, right.
15:36
You can make the argument that it was the China ban.
15:38
You can make the argument that it was the rehypothecation
15:41
because of FTX, whatever it is. And I think a lot of us are just
15:46
like, you know, we have PTSD. We're like, we remember those
15:49
days. So we forgot what a 2017 Bitcoin
15:53
bull run feels like. But it seems like if you're not,
15:57
if you're paying attention to all the things that are
15:59
happening on the sidelines, like it would be hard not to be
16:02
bullish. And I mean, look, Trump wins the
16:04
election. We know he was the pro Bitcoin
16:06
candidate and bada Bing, bada boom, Bitcoin makes an all time
16:09
high. Like, you know, it's, it's
16:11
crazy. It's crazy.
16:12
I'm really, really excited for, you know, the, the, the, the
16:16
upcoming months, the upcoming year 2025.
16:20
And most importantly, baby Ross is going to be freed in January
16:24
and I'm really excited for that. Let's go.
16:26
Couldn't agree more. Yeah, jump in, Alan.
16:29
We talk about free and Ross day one.
16:31
I mean, you guys were on the vanguard of this.
16:32
You guys were the ones pushing this.
16:34
And hey, look, the Bitcoin community, you did get a lot of
16:38
pushback from the Bitcoin community when Bitcoin mag came
16:40
out and being so pro Trump, you guys did catch a lot of Flack.
16:44
And I think your guys's strategy has vindicated at this point.
16:48
I think yeah, I I mean, Bitcoin mag catching flak is like, you
16:53
know, as it's, it's it's as tried and true as number go up
16:59
right. Like I, you know, David, David's
17:00
a very outspoken person when he when he sees when he sees
17:05
something that makes sense, you know, he he's vocal about it and
17:08
he's he's not caring, you know, what the masses are going to
17:10
think as a whole. He's just like, hey, this is the
17:12
best for hyper bitcoinization as a whole.
17:15
And so, yeah, I mean, you know, Bitcoin doesn't need
17:19
politicians, but, you know, I think what David understands is
17:21
that politician needs Bitcoin and the United States as a whole
17:25
in its current state, you know, having its position as a like a
17:29
global financial, as the global leader in finance and democracy,
17:35
right, is being challenged. And so, you know, this whole
17:40
relationship started with Trump really back in, I want to say it
17:44
was like April, May or April of this year.
17:48
And the kind of lack of a better analogy, the coming out party
17:52
was really the the the Mar a Lago roundtable with that Amanda
17:56
Fabiano and a lot of the miners came too.
17:59
And it was there where they started formulating.
18:02
I think it was the 10 points that Trump Trump came out with
18:05
on the campaign that he's going to do to support Bitcoin.
18:07
And the number one and most important thing, right, was
18:09
freeing Ross Ulbricht, right, who's been, you know, a was made
18:15
a political example of for trying to create, you know, a
18:17
free and open marketplace that leveraged obviously Bitcoin.
18:21
But it's been, you know, I think it's just crazy to get here.
18:25
I mean, we've been championing the, the freedom, the freedom
18:27
and partying of Ross for a number of years now.
18:30
I mean, you can go all the way back to our first event in San
18:35
Francisco in 2017, right? And we, we had Ross's mother up
18:39
there on stage vocalizing that, Hey, it's, it's not it.
18:43
First off, you know, Ross should not be in prison for like 3 life
18:46
sentences when you know, there are far other actual real
18:52
criminals that you know, have far less sentences and are able
18:55
to walk and that sort of thing. And so to see, you know, Trump
18:59
recognize, you know, the faults at his first administration of
19:02
not pardoning Ross and making it a priority to pardoning him on
19:06
day one, you know, I think is really bullish that and it'll be
19:10
a telltale sign if, you know, as to whether or not the Trump
19:14
administration is going to hold up their bargain on everything
19:16
else that they promised for Bitcoin.
19:19
Yeah, totally, totally. Agree with you.
19:21
I, I, I think, I think they are going to keep the bargain.
19:23
Of course, you know, at the end of the day, we should be
19:25
skeptical. But you know, you guys did such
19:28
an incredible job, like getting him at the Bitcoin conference.
19:32
I remember like him kind of walking into it because it was
19:35
shout out to Vivek, by the way, because Vivek was the one who
19:38
implanted the idea in Trump's mind about the CBDC's.
19:41
But it was so funny watching him go through this because he did
19:45
it in speeches. Like it wasn't like, you know,
19:47
like usually privately you kind of go in your head, OK, this
19:50
Bitcoin thing. But he did it in speeches and he
19:52
was like, yeah, and if if I'm elected president, I'll be
19:55
against CBDC's and the crowd when he's like, whoa, you guys
19:58
really like that. If I'm elected president, I'll
20:01
be against CBDC's. And then I remember tweeting, I
20:04
was like, this is going to inevitably lead to him
20:07
supporting Bitcoin. And then it was like a month
20:09
later when he's like, you know, I'll protect the right to self
20:12
custody and like, blah, blah, blah.
20:13
And the crowd went wild. And he was like, whoa, yeah,
20:16
Bitcoin is good. You know, so it was funny seeing
20:18
that whole experience. Anyways guys, before we we get
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typically what you deal with Coinbase and a lot of these
21:47
exchanges is you're buying off this, you know, platform and it
21:51
kind of removes the human element to it.
21:53
The awesome part about Bitcoin, well infinite is that you'll
21:56
actually have a human being that you can talk to that you can
21:59
discuss by buying Bitcoin and taking into self custody.
22:02
All right, everybody, let's get some numbers.
22:04
We have a lot to talk about today.
22:05
Let's check it out. Here we go.
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if you use the promo code simply all right guys, you already know
23:53
this is the number some over here on Clark Moody's dashboard
23:56
and we're just going over some of the the time change stats
23:58
here. Of course, the Bitcoin price
24:00
it's ripping. We are in price discovery mode.
24:03
Love to see it. We're at a price of 76,420
24:07
dollars per Bitcoin, which means the sets per dollar, AKA how
24:11
much Bitcoin you can buy for a single dollar, AKA how much a
24:14
dollar is worth. And Bitcoin is currently at 1309
24:17
sets. The current block height, which
24:19
is my, I think this is my favorite number here because it
24:23
means Bitcoin's working exactly as designed.
24:25
TikTok next block we are currently at 869,315 and the
24:30
market cap in Fiat terms guys, we are reclaiming our status
24:34
here. We're currently at $1.51
24:36
trillion and the Bitcoin versus gold market cap, Nico, I think
24:41
this is all time high. I think we're at all time high
24:43
right now point 1%. We're almost at 10% of the gold
24:49
market cap. Remember the beginning.
24:51
I know 700K per Bitcoin sounds crazy.
24:54
What's the gold market cap right now?
24:55
I think it's like it's between 12 and $17 trillion right now.
24:59
Yes, we're having a hard time claiming that $2 trillion market
25:03
cap in Bitcoin terms, but this metric has been slowly but
25:06
surely inching up and I I think we're going to very comfortably
25:10
claim that 10% of the golden market cap very, very soon.
25:14
Love to see it. And the total percentage of
25:16
Bitcoin that will ever be issued, I repeat, the total
25:18
percentage of the Bitcoin that will ever be issued is currently
25:22
at 94.18%, which means roughly, you know, 19.7 million Bitcoin
25:28
are currently circulating. You might want to get some just
25:31
in case it catches up. All right, guys, I already see
25:33
you guys kind of talking about this in the chat and This is why
25:36
this is how I knew that this was going to be the perfect video
25:39
for today. We are in price discovery mode
25:42
and if you're a bitcoiner, this is probably I'm a broken record
25:46
at this point. You you, you you're not going to
25:48
sell your Bitcoin. We all know the meme Never sell
25:50
your Bitcoin, hollow your Bitcoin long term.
25:53
But at the new entrants enter the market, they always have the
25:57
same kind of thinking. It's like.
25:59
Oh wait, I'm pausing this. We just broke 500 live viewers
26:02
on YouTube. Let's go.
26:05
Smash the like button. Push us into the algos comment.
26:10
Bro, the bull market simply is like, it's great.
26:13
It's wonderful. It's going to be lit.
26:16
It looks like everything revolves around the Bitcoin
26:18
price. Who would have thought this
26:19
Bitcoin price? If you hear us, can you start
26:22
pumping? Okay.
26:23
Anyways, as I was saying, as new entrants enter Bitcoin, they
26:27
always have like a very, I would say naive take here.
26:31
They're like, once Bitcoin gets to X, I'm going to sell it for
26:34
more dollars. And we're always sitting here
26:36
like, sell it for what? Like you're going to sell it for
26:39
literally paper that they can print infinitely.
26:42
It has no value. Like, no, the real value, the
26:45
real money in the world is Bitcoin.
26:47
And, and we have Arthur Hayes here.
26:48
Guys, if if you've been around for a while, you know who Arthur
26:51
Hayes is. He's the founder of Bitmex
26:53
actually, you know, got arrested and forced out because of like,
26:58
legal troubles here, but he is hitting on the message
27:02
perfectly. No, hold on a second.
27:05
Hold on, hold on. No, no, no.
27:06
So he was, he was charged with the same thing that CZ was
27:10
charged with, which was the the money laundering and the AML
27:14
stuff. Call me a little bit radical
27:17
here, but I think KYC and AML is exclusionary by nature.
27:23
And you know, like how the current system works is if you
27:27
happen to be born in a certain country, which you have
27:30
absolutely no choice over, you are essentially excluded from
27:36
the traditional financial system.
27:37
That's KYC and AML for you. So what Bitmex and Arthur Hayes
27:42
was charged with was not sufficiently enforcing those
27:46
speculations. Now it is the law, yet you kind
27:48
of have to follow it. But the thing that bothers me is
27:50
the double standard. TD Bank was just charged with
27:55
one of the largest fines in history, keyword fine.
28:01
How come the CEO of TD Bank didn't go to jail for the same
28:04
thing they accused Arthur Hayes of, right?
28:07
So it's, it's kind of like a double standard injustice,
28:10
right? So hopefully the incoming
28:12
administration is going to be a lot more, you know, a lot more
28:16
friendly towards Bitcoin. But I just want to add that
28:18
caveat because again, look, if if you know, if it was the same
28:23
set of rules, if they lock the TD Bank executives in jail, I
28:29
would say, OK, you know what, fine.
28:31
But the fact that there's a double standard between banks
28:34
and our industry, that's not justice, man.
28:37
That's, that's a, that's a special form of justice.
28:41
Love it, love it, love it Nikka I think.
28:43
I think Alan wanted to jump. In Alan, I was I was going to
28:46
say, you know, it's very similar to just Ross, not to not to go
28:48
back to him right away, but it's like this, this 20 so bit Max in
28:53
2017 was like peak exchange, like the the memes that were
28:56
going on were just like the leverage that you could take out
28:58
on there, right. And as such, like, people would
28:59
use VPNs and stuff, this whole thing of violating, you know,
29:08
the Bank Secrecy Act and the thing that, you know, Arthur
29:11
Hayes ultimately got charged with.
29:12
I think that's where all that originated.
29:16
But yeah, I, I think I, I think what was going on here, right?
29:23
Was this this attempt to make Arthur Hayes, Ross, CZ, Sam
29:28
Bankman freed like all these people to be made an example of?
29:33
And I think it originally started as a way to try and
29:35
stamp out Bitcoin. And when they realized they
29:37
couldn't stamp it out, they had to get personalities out out of
29:44
the way that were either manipulating or, you know,
29:48
taking advantage of Bitcoin in a way that wasn't, you know, ideal
29:53
for retail. And they had to get rid of them
29:56
so that, you know, they could pave the way for these Bitcoin
29:59
ETFs and such to make it acceptable for retail to come
30:02
in. And now that we have, you know,
30:05
a new a now that now that we have like a pro Bitcoin cabinet
30:13
in the space, right, not only, you know, Trump making pro
30:15
Bitcoin, pro Bitcoin comments, but we have JD Vance, his VP who
30:19
owns at least, you know, $500,000 worth of Bitcoin.
30:22
He says he has 6.15 shout out, you know, class class of 2020 in
30:27
American Huddle. And then on top of that you have
30:30
Vivek Ramaswami who's out there, you know, saying that he's going
30:34
to make all of the employees at his company learn and understand
30:37
about Bitcoin. They're going to institute a
30:38
Bitcoin standard. We have Musk who personally owns
30:40
Bitcoin and Tesla also has Bitcoin on the balance sheet,
30:43
right? You know, we have RFK who came
30:47
out with a very similar strategic reserve Bitcoin policy
30:53
at Bitcoin 2024, right? It's like, you know, the Sky's
30:59
only the limit here. I, I, I just, I, I think it's,
31:02
it's crazy. It's crazy.
31:04
Yeah 100% and guys breaking breaking, breaking.
31:07
It looks like we just hit a new all time high.
31:09
So we're in price discovery mode, which is perfect for this
31:13
clip here. Guys.
31:14
What are you looking at here? Yes, you know, Bitcoin
31:18
increasing and purchasing power is great, but maybe you don't
31:22
want to go back into dollars. So let's hear Arthur Hayes take
31:24
on this and then we'll chat about it real quickly and move
31:27
on to the news. So I think this is an
31:29
intellectual thing I've started to think about is I don't want
31:32
to sell Bitcoin for Fiat, I want to sell Bitcoin for energy,
31:37
right? Because at the end of the day,
31:38
why? Why is Bitcoin a good thing?
31:40
It's because it's pure energy in monetary form.
31:43
A dollar used to be worth that when it didn't have any other
31:46
competition. Now there's competition.
31:48
Gold is very heavy. I have some of it, not as much
31:51
as Bitcoin, but again, same issue.
31:53
So if Bitcoin gets to a silly value in energy terms, then I
31:57
need to sell it and I need to own something, some sort of way
32:01
to have access to primary energy.
32:03
Is that, you know, Exxon Mobil? Is that, you know, buying a
32:07
power plant? I don't know.
32:09
I haven't really thought about it that much, but it won't be
32:12
that I sell Bitcoin for dollars. I'm going to sell Bitcoin for
32:16
some primary energy source because that's what I'm trading
32:19
in, that's what I'm training. If bitcoins worth, you know, 500
32:24
barrels of oil today and 10,000 tomorrow, well at some point
32:26
this is a little ridiculous. How much oil should a monetary
32:29
instrument be worth? Maybe I should just own the own
32:33
the actual energy itself because I've been able to get it at such
32:37
a cheap price, relatively speaking.
32:39
Love it. OK, at this point, at this
32:41
point, Nico, I do have to shout out Narwhal Tacos here because
32:45
he's been on this beat for so long on Rumble.
32:49
So let me go over here to Rumble right now because we got the
32:52
daily update of Bitcoin and oil prices right now.
32:55
So Narwhal Tacos on Rumble oil continues to depreciate on a
33:00
Bitcoin standard West TX intermediate crude settling down
33:04
to 94,281 SAT per barrel in the morning earnings trade.
33:10
And this is what we talk about here, guys.
33:12
Yes, seeing Bitcoin increase in purchasing power in Fiat terms,
33:16
it makes us feel good. You know, it's, it's the
33:18
relative unit of account. It's a relative measure in the
33:21
world. That's, that's what we interact
33:23
with. We interact with dollars.
33:24
That's how we know grocery prices are going up.
33:26
That's how we know our cost of living.
33:28
You know, it's going down, etcetera, etcetera, etcetera.
33:31
But realistically, once you change your mindset and you you
33:35
start to value your life in in Bitcoin, you start to get to
33:38
where Arthur Hayes is saying and what Narwhal talk has been
33:40
saying. It's like you don't just price
33:42
your life in Bitcoin, you know, exchange rates to dollars, you
33:46
start to price it in goods and services.
33:48
And or like Arthur Hayes is saying, it's energy.
33:51
Bitcoin is backed by energy. It's proof of work.
33:54
It connects us to reality. And so I like spreading this
33:57
message a little more often on the show.
33:59
It's like it's not about Bitcoin exchange rate to dollars.
34:02
It's about bitcoins price to energy.
34:04
And once Bitcoin, you know, once Bitcoin knocks off the Petro
34:08
dollar and we get, get the petrosat, that's when we'll see
34:12
hyper bitcoinization happen. And it's never going back.
34:15
It's still not going back. But the powers that be, once
34:18
they start pricing energy in, in Bitcoin, I, I think that's when
34:22
we're going to see the fundamental shift in how people
34:24
view the world globally right now.
34:26
So crazy times right now, but Alan, I see you shaking your
34:30
head. So I'm I'm sure you have
34:31
thoughts on pricing Bitcoin and energy.
34:34
Dude, yeah, we were talking about this earlier before the
34:38
show started just in the chat. And and like I was mentioning
34:41
like I was like, I don't, I don't think, I don't even think
34:44
Bitcoiners are ready for the whiplash that's about to occur
34:48
come January on some of these policy changes that are going to
34:51
be instituted. Like every everyone's talking
34:53
about like the Bitcoin strategic reserve, right?
34:55
But another thing like Trump has talked about massively is the
34:57
importance of, you know, increasing our energy output,
35:02
right? Drill, drill, baby, drill is
35:04
what he says. And when you have guys like
35:07
Brian Morgenstein, who has been, you know, you know, who helps
35:12
serve in the previous Trump administration.
35:15
He's back there now at riot and Trump like, you know, out here
35:19
saying he wants Bitcoin made in America and like all all all
35:22
these sats, you know, remaining sats to be, you know, hopefully
35:25
mined here. I think that future of having
35:30
the Petro sat. I like that by the way, I think
35:34
it's closer than people think. I just, you know, I think we're
35:38
like I said, we're going to be in this accumulation phase.
35:40
It's not just going to be buying Bitcoin, right, You know, either
35:43
at a corporate or sovereign level, but like we're going to
35:45
see places like in the UAE, right where they, they've
35:48
already stood up, you know, mining centers.
35:51
I think the one with the I think it's 02 and Mar, I think they
35:56
already account for like 1% of the total hash rate, which is
35:59
only good for Bitcoin in the long run, right?
36:01
Like the more people you have allocating miners and energy to
36:03
the network, the more secure the network is.
36:07
And from like a, a not just a financial standpoint, from like
36:11
a self sovereignty and like national protection standpoint,
36:16
right? It's like you're, you're not
36:17
inclined to want to expend energy that is, you know, net
36:20
destructive, right, Whether that be war or, you know, like
36:25
financial sabotage and that sort of thing, right?
36:28
You're going to be like, no, it's any excess energy that I
36:31
have that isn't, you know, necessarily needed to allocate
36:34
towards like living or production of goods.
36:36
Like I'm going to use it to mine sats because I need, I want more
36:39
sats, right? It's hard not to be bullish, so
36:42
hard not to be bullish. Totally, totally.
36:45
Hey Nico, Utxo on Rumble just reminded me of something and he
36:51
just commented a free hashtag. Free Satoshi.
36:54
Oh my God. Oh my God, it's been so.
36:59
Long. We forgot about Satoshi the
37:01
chicken. Dude, that's right.
37:02
Anyways, if you guys are new to the simply Bitcoin channel,
37:04
first smash the like button. If you guys are enjoying the
37:06
show, we're almost at 600 live viewers on YouTube.
37:09
That's absolutely awesome. This is Satoshi the Bitcoin
37:11
chicken. He's a simply Bitcoin OG.
37:14
I started the show in 2020 so that was right before the run
37:19
up. And essentially every time
37:20
Bitcoin makes an all time high Satoshi the Bitcoin chicken.
37:24
Wow, it's been so long he hasn't made an appear.
37:27
So, so long. Anyways, talking about energy
37:29
and Bitcoin, I think it's a match made in heaven.
37:32
Bitcoin monetizes otherwise stranded and wasted energy.
37:37
Nothing else does that. So if you have a energy source
37:42
or energy pockets all around the world that would otherwise be
37:45
too isolated to be used, Bitcoin goes in there and it gives it
37:50
value, right? It's beautiful.
37:51
Nothing else does that. And it's going to fundamentally
37:54
change the energy markets. It's going to fundamentally,
37:57
it's going to bring tremendous amount of innovation to energy
38:01
production as well. It actually makes renewables and
38:04
renewable energies viable without the need of government
38:08
subsidy. Who would have thought?
38:10
And yeah, I, I think it's, it's, you know, it, it's it, it kind
38:14
of makes sense, right? Like, obviously, you know,
38:17
pricing Bitcoin and oil in hindsight makes sense, but I do
38:21
want to also give a shout out to Narwhal Tacos because he has
38:24
been bringing this up in our rumble chat for the last couple
38:27
of months. And I completely discredited.
38:29
I was like, I don't know what that means.
38:31
I don't know what that means. What does that mean?
38:33
But apparently he was right and I was completely wrong.
38:35
So shout out to you, Narwhal. And one thing that Alan brought
38:39
up, I got to, I got to weave it back in, is.
38:42
Trump. 'S the weave, right?
38:44
Trump's energy policy, Yeah. You know, he's super pro energy.
38:48
He's saying drill, baby, drill and one of the things, right,
38:53
Drill, baby, drill. And one of the things.
38:54
It's so funny when he's talking about RFK, right?
38:56
He's like, yeah, he can do whatever he wants when it comes
39:00
to health, but when it comes to oil, no, no, you got to leave
39:03
that alone. So I'm really, really bullish.
39:06
I think think oil prices are are gonna go down drive a Tesla
39:10
these days, but oil prices are gonna go down.
39:13
And that's important. Let's boot em.
39:14
That's important. And dude, it is like it.
39:16
You're never gonna get another car.
39:18
And I remember once you go Tesla, you know, you don't go
39:21
back like Elon's a fucking goat anyways.
39:23
So yeah, I just. Ordered a Tesla so no shame.
39:26
There you go. There you go.
39:29
So but no, yes, and and energy going down is good for Bitcoin
39:33
is good for Bitcoin miners. It's good for the economy in
39:35
general, right, like, you know, one last bit and again, it's
39:39
past election season. So welcome to simply Bitcoin
39:43
where we don't talk about politics.
39:44
We are kind of forced to our hands were forced, especially
39:47
when the samurai guys were jailed in the attack on self
39:50
custody. But I'll just say it like this,
39:53
and I'll be saying in a very inclusive manner, why wouldn't
39:57
you want cheaper energy prices? Why wouldn't you want that?
40:01
Like everyone wants that. That makes life cheaper, you
40:04
know, makes travelling cheaper. Like, it just makes everything
40:07
better. Have you guys seen the chart on
40:09
that goes by on Twitter? And it's like a line of like the
40:12
most prosperous countries. Exactly.
40:15
You can't have like an energy, energy rich country or what?
40:19
Yeah, yeah, yeah. I've seen the chart.
40:21
You've seen it, right? So it's like you can't have a
40:24
rich country without energy and like to think otherwise is like
40:29
a little bit defeatist in my unhuman.
40:33
I don't know how it's. Literally unhuman.
40:35
It's literally anti human energy is good use more energy.
40:40
What's that? What do we have the tag still
40:41
here? Unplug Denmark.
40:43
Is it still in here? I don't think it's still in
40:46
here. Do I have it?
40:47
That was Greg Foss that originally said that, sorry.
40:50
We updated unplugged Norway OK. OK.
40:57
We need more energy. We use more energy anyway.
41:00
Anyways, we've lost the plot today.
41:02
I guess we. Got to weave it back in, bro.
41:04
We got to weave it back in. We got to weave it back in
41:06
anyways. Opti, is it time for the news?
41:08
Yeah, let's get to the. Let's hit the news.
41:10
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get a discount. Man Nico, I am already I already
43:41
warned you guys this a while ago that once the price starts
43:43
running, I'm probably going to start losing the plot on this
43:45
show. Now I can already feel it
43:47
happening. We.
43:48
Already feel it, but we've I. Can already I am I am I am I can
43:51
already just I'm just warning you.
43:52
This is the warning. All right, guys, this is the
43:54
news. And you know, any chance I get
43:57
to show you guys that I have vindicated and I'm not just a 65
44:00
IQ person on this show and I'm not here just for laughs.
44:03
I'm going to, you know, rub it in everyone's face.
44:06
So this is one of those moments I've been telling you guys for a
44:09
while, you know, Nico and I did get political on the show.
44:11
It it, it is what it is. Politics landed on our front
44:14
door, so we had to cover it. Well, one of the things I was
44:17
telling you guys, and we kind of covered it yesterday, we've been
44:20
covering it for months now, is that, and I actually said it
44:23
earlier today, is that what the elections cause is uncertainty.
44:27
And we saw that literally happen in real time.
44:31
And yesterday we've seen massive amounts of capital flow into all
44:35
markets. So I'm starting off here with
44:37
just markets in general. And we have radar hits here and
44:40
it goes, U.S. stocks surge $1.3 trillion after the Trump win.
44:44
So you can see that capital is starting to leave, you know, the
44:47
safety of just in, in, you know, in stacks of Fiat or in their
44:52
Charles Schwab accounts and starting to enter the markets
44:55
again, just all across the board.
44:57
Now, what's very interesting is that we saw also an incredible
45:02
amount of record volume flow into the Bitcoin ETFs.
45:06
And so I'm only going to read a little bit of this article.
45:08
I'm using Bloomberg, but I have it on archive because we're
45:11
we're not paying for Bloomberg anymore.
45:14
So here's the story. There's a headline over here on
45:17
Bloomberg headline, of course, record I shares Bitcoin ETF.
45:21
The Black Rock ETF volume adds to crypto's historic run.
45:26
Now going down here a little bit and I am going to add some more
45:28
stats from Eric Balkunis, of course, a Bloomberg analyst, the
45:31
ETF analyst. You can see that the I shares
45:34
Bitcoin ETF posted a peak trading volume.
45:37
It's literally at all time highs ever since it came out with if
45:41
you know, I think it's around just in the BlackRock ETF, $4.1
45:46
billion in trading volume yesterday.
45:49
It's so capital is flowing. Yes, they did have some, some
45:52
outflows, but there's been an incredible amount of inflows.
45:55
You can see that the group of all the 12 US Bitcoin ETFs
45:58
overall achieved $622 million of daily net inflows, the highest
46:04
since the product was launched in January.
46:06
So you can see that capital that has been uncertain.
46:10
They're not knowing where it's going to they go and maybe
46:12
they're waiting for lower prices.
46:14
It's starting to flow back into the market.
46:16
And of course the institutional capital is, is going into the
46:19
ETFs and you're, you're just starting to see that capital is
46:22
starting to be released. It's hitting the markets again.
46:26
You just love to see it. You just love to see it.
46:27
OK. And this next one here is just a
46:30
more update by Eric Balkunis. Actually, we'll start up here.
46:33
So again, covering this biggest volume day ever with $4.1
46:38
billion traded in just a BlackRock ETF alone.
46:42
I think overall for all the ETFs, it was around $6 billion
46:45
traded yesterday in the Bitcoin ETF.
46:48
But this is incredible context here from Eric Balkunis, and he
46:50
goes for context. 4.1 billion in just the BlackRock ETF is more
46:55
volume than stock like Berkshire, Netflix or Visa saw
46:58
in the very same day. It was up 10%.
47:01
It's second best day since launching and of course, you
47:05
know looking forward, the group of Bitcoin ETFs in total had 6
47:10
billion craziest day, the capital starting to flow back
47:13
into the market and you can see the Bitcoin price today is
47:16
reacting to it. We're in all time high price
47:18
discovery mode right now. And I think everyone that's been
47:22
watching the ETF markets, institutional markets, I think
47:25
we're all getting the same sense that this is just the beginning
47:28
of capital flowing into Bitcoin. It's taken them a long time to
47:31
kind of reverse their course to kind of backtrack.
47:34
Of course, now we're seeing JP Morgan backtrack on Bitcoin and
47:37
their takes on Bitcoin. We saw Larry Fink, you know,
47:39
Uncle Larry at the beginning of the year backtrack.
47:42
So now every maybe soon we'll see Berkshire Hathaway, you
47:45
know, backtrack on their Bitcoin again.
47:47
I think Allen said in the beginning, before this year,
47:51
before the ETS were launched, and I think we'll we'll see more
47:54
of this trend. It was career suicide to embrace
47:57
Bitcoin and now it's it's, you know, their fiduciary
48:00
responsibility to embrace Bitcoin because it's the one
48:03
thing that's winning out here. Now kind of pivoting that talk a
48:07
little bit before I pass it over to Nico and Allen.
48:10
We saw another interesting number.
48:12
Of course, we've been wondering when the bull run started.
48:15
And I think we can, we can very, very easily claim that this is
48:19
here, it's been here, we've been going sideways for what, like
48:22
nine months now. And, and it's not just
48:24
institutional capital. And so this is a heuristic that
48:27
we've covered. And if you've been in the
48:29
Bitcoin market for a long time, you notice that this is a trend
48:33
when retail starts to come into Bitcoin.
48:35
And as much as you know, we, this is the company that we
48:39
don't like to name, we're seeing that Coinbase app downloads are
48:43
going up. So literally 3 days ago, it was
48:46
at 450th in the place of all the financial apps or app ranking in
48:50
the world. It was at 4:50.
48:52
Today it's at 1:14. Now if you go into this, you
48:55
know, what is the previous bull cycles looking like?
48:58
How is this working out? In March of what was this 2021,
49:03
it hit a high of like 44. So you're starting to see that
49:07
not only is the institutional capital flowing into Bitcoin,
49:10
but it is also retail is starting to wake up.
49:13
So guys, buckle up and things are going to get crazy.
49:18
Not only is institutional capital flowing into Bitcoin,
49:21
but it looks like retail is starting to wake up as Bitcoin
49:24
gets into price discovery mode. This is all good for you guys
49:28
out there. This means keep stacking, keep
49:31
taking Bitcoin into cold storage.
49:33
Who knows how high the price is going to go in this blow off top
49:36
that we're all expecting. I'm kind of expecting we might
49:39
see a double tsunami, you know, double wave stack up here.
49:43
But things are starting to heat up.
49:44
Things are getting very interesting.
49:46
You know, we're at 76 K right now.
49:49
I think they're going to get really crazy.
49:51
Retail's waking up, institutional capital's waking
49:54
up. And of course, it's all after
49:56
the elections. Like we've been saying for a
49:58
long time that yes, hey, Bitcoin, having Trump be more
50:03
pro Bitcoin is great, But now the capital is waking up.
50:06
It's starting to flow into the hardest, best assets in the
50:09
world and we think all roads lead to Bitcoin.
50:11
So hey, buckle up boys and girls.
50:14
It's about to get crazy. But I'm going to pass it over to
50:16
Alan because you know, you're doing the Bitcoin for
50:18
corporations here. So you know, what's your
50:21
thoughts on the ETF? Maybe you can not even roll back
50:23
the initial thoughts on the ETF roll out and maybe capital
50:27
flowing into the ETFs now. Yeah.
50:30
So I mean, first and foremost, like, you know, just buy
50:33
Bitcoin, hold Bitcoin, put it in cold storage.
50:36
You know, that is the way to go. It's the kosher way to go.
50:38
It's the best way to go to secure your own personal wealth.
50:41
With that being said, I know a lot of people like to turn a
50:45
blind eye and they don't like discussing, you know, corporate
50:48
Bitcoin adoption. They don't like discussing
50:50
governments adopting Bitcoin because it kind of is like and
50:53
typical to the whole ethos of Bitcoin, right?
50:56
But I, you know, I, I encourage people to like reframe their
50:58
thinking around. And it's not that, you know,
51:00
Bitcoiners are capitulating to working with, you know,
51:02
corporations and governments, but it's governments and
51:04
corporations that are capitulating to working for
51:07
Bitcoin because that really is what's happening, right?
51:11
Like if you believe in like all the values that you know, like,
51:13
you know, Bitcoin's decentralized, there's only a
51:15
finite amount, you know, it, it's, it's, you know, the, the
51:21
path towards a, you know, Austrian economic world.
51:25
Like you shouldn't be too overly concerned about, you know, some
51:28
of these big players coming coming into the space.
51:30
I'll be, you know, it's good to keep them in check.
51:31
You want toxic Maxis calling out BS whenever they see it, because
51:35
that's how you call out the like Sam Bakeman Fritz of the world.
51:38
But with that being said, right on the corporate side of stuff,
51:41
to answer your question, Opti Opti, like, you know, bitcoins
51:45
approaching new all time high. I actually think 76 K was the
51:48
magic number when adjusted for inflation of the.
51:51
Previous, I think it's 78, 78, yeah.
51:54
So we're almost at adjusted inflation, all time high.
51:57
So like, you know, we're getting close there.
52:00
You know, the S&P 500 I think is approaching close to 6000.
52:04
So all time high there as well. I mean, all this is obviously
52:07
reaction to, to Trump being elected.
52:11
I think it was almost taboo for anybody siding with the
52:14
Democrats to signal support for for Bitcoin because that was
52:17
almost like a a roundabout way of signaling support for Trump.
52:22
And the reason I bring that up, right, is like immediately after
52:26
Trump, you know, was announced as the incumbent president, you
52:30
know, I had a number of my colleagues who were working on
52:32
the conference side have people reach out and confirm that like,
52:35
hey, you know, at the nation state level, we are
52:37
implementing, you know, Bitcoin strategic reserve.
52:39
Hey, I'm so and so at CEO of company like I am going to like,
52:43
you know, institute a corporate yeah, Bitcoin treasury strategy,
52:46
right. And so you're I I just don't
52:50
think anybody is bullish enough to see where we go this cycle in
52:53
terms of all time highs. And so like the natural, you
52:57
know, question that comes up and I propose this to DB this
53:00
morning I was chatting with him. I was like, what about the
53:03
little guy? Like what about the entirety of
53:05
retail that still hasn't woken up to Bitcoin?
53:07
Like it's great to see like people, you know, increase
53:10
downloads at Coinbase and stuff and like, hopefully you know,
53:13
they, they go further down the rabbit hole and, you know,
53:16
understand the values of self custody and not storing your
53:18
Bitcoin on exchanges. But you have to wonder about
53:22
like, you know, the the laggards and people who aren't going to
53:25
be, you know, might still have questions about Bitcoin or be
53:28
late to the party. Last of the party.
53:31
The question I proposed to DB is like, what about them?
53:33
Right, Like, you know, you want everybody to come up with you,
53:35
but obviously in the game of winners and losers, there's
53:37
always going to be losers. And one thing he mentioned to me
53:40
that I thought was pretty interesting that I had to really
53:42
put too much thought or consideration into is the fact
53:46
that like you have so many boomers and, you know,
53:50
millennials and Gen. Xers who do still have like 4 O1
53:53
KS, right? And as a by product of like
53:56
these Bitcoin ETFs coming online, right?
53:59
Like the, the idea here with a Bitcoin strategic reserve and
54:02
the tariffs that Trump's going to impose.
54:04
And, you know, the, the, the moves that they're going to try
54:06
to make to increase energy output and bring manufacturing
54:09
back is that we're going to have, you know, new wealth
54:12
generation. And as a by product for anybody
54:16
who doesn't just, you know, finally wisen up and buy Bitcoin
54:19
at a minimum, right, even though it's not kosher Bitcoin, not
54:22
actual Bitcoin, these these ETFs that are in the market, like
54:27
everyone's going to have some level of indirect exposure to
54:30
Bitcoin. You know, and you can make the
54:33
argument it's like, well, it's still not like Bitcoin, but at
54:35
the end of the day, right, They have that exposure and
54:38
inevitably, right. It's it's actions like these
54:40
that are continuing to show Bitcoin in a positive light and
54:43
a must have right. That I think is just like I
54:47
said, I don't think you're bullish enough.
54:49
I don't think anybody, I don't think anybody who's predicting
54:52
the you know, the price of Bitcoin, even sailors crazy
54:53
predictions, I think are still like incredibly like low
54:56
balling. Where where are bitcoins going
54:58
to go? Like I don't know how else to
55:01
put it. Dude, yeah.
55:03
I mean, that's, that's crazy. You're not bullish enough.
55:07
I mean not. Bullish enough.
55:08
I don't know how to top that bro like that.
55:12
That's crazy. I mean, it, it's just, it's,
55:14
it's hard to see like when you're kind of going in the,
55:18
when you're like in the thick of things.
55:20
And then also like, I think like going back to weaving, right,
55:25
going back to the thing that I was saying in the beginning of
55:27
the show, you know, like technically we've been, you
55:35
know, not anymore, but we've been around this region for the
55:38
last like three years or so, right?
55:40
So like, you know, but now I know we've gone down, we've gone
55:43
down to 60K16 K and what not. But you know, what was the all
55:48
time high in, in in 2021? I think it was, it was like it
55:53
was 60 or 68 or something, right?
55:55
And then, you know, three years later, all the you know and,
56:00
and, and Bitcoin time, three years is like 50 years in prison
56:04
like. Dude, I have.
56:05
I have aged. I've aged at least like 20 years
56:08
in the course of the last three years.
56:09
It's been so stressful. Yeah, no.
56:11
Basically a boomer. Now and then working in this
56:14
industry like it's, it's nuts, you know, and it's awesome,
56:18
right? But it's, it's, it's crazy.
56:20
And you know, like three years at at this price point, right.
56:24
So three years is a pretty long time.
56:27
And so like from a psychological perspective, it's, it's, it's
56:31
very difficult. I mean, I've been tweeting like
56:33
kind of like jokingly, like the last couple days, like when we
56:36
hit the all time high, I said like, I feel nothing just
56:39
because, you know, there is a, there is a, there is like an
56:43
emotional price that you pay for huddling.
56:46
Huddling in theory is extremely easy because it's like you buy
56:51
Bitcoin, earn Bitcoin, mine Bitcoin, you put that Bitcoin in
56:53
cold storage. I see you're OK.
56:57
But you kind of go through this like spiritual, emotional,
57:04
personal journey, holding Bitcoin for extended periods of
57:09
time. And I'm weaving it back in.
57:13
So, you know, I'm very excited for this next leg up and let's
57:18
see where it takes us. I, I, I, you know, Bitcoin tends
57:21
to do the exact opposite of what everyone expects it to do.
57:25
So, you know, people are calling for like 100 KA 150K tops this
57:28
time around. So I, I, I echo what Alan's
57:32
saying. I would not be surprised if, you
57:35
know, we hit half $1,000,000 Bitcoin relatively soon 'cause
57:38
everyone would be surprised, right?
57:40
Like that's markets do the opposite of what, what the
57:42
masses think. So that's that's my take.
57:46
You heard you heard it here first.
57:47
A trillion dollars per SAT incoming.
57:50
It's. Coming.
57:51
No, I'm trying. I'm trying like.
57:53
I'm no, no. Well, I mean what you have to
57:55
think about though, like OK, so gold's at what 12 trillion and
58:00
Bitcoin sitting at like 1.21 point, $5 trillion market cap,
58:05
right? So that's at least a 10X from
58:07
here. So that's like right, right
58:09
there. That's that's 7076700 and
58:14
$60,000 Bitcoin, which is just insane to think about, right?
58:18
That's like almost at that price point of 1,000,000.
58:20
And that's just reaching a parody with gold, right?
58:23
And gold hasn't even been like the dollar hasn't even backed by
58:27
gold since 1971, right? And so if we're entering this
58:31
age, we're we're we're foregoing, you know, Petro
58:37
backed dollars not and that's probably not even like right to
58:41
say, right, Because you know, the saying is the dollar's
58:43
backed by the faith of the government in full-fledged
58:46
force. And really it's just, you know,
58:47
aircraft carriers going over to the Middle East, but you just
58:52
have to think, right, it's like you have this technology that
58:56
anybody can access and use at any time and spend it like
59:00
there's nothing stopping, you know, North Korea from just like
59:04
trying to spin up a bunch of miners and like using the hydro
59:06
dams they've built there, right? Like they could take advantage
59:11
of it, right? And so it's like, like I said,
59:13
it's this this accumulation race that is about to occur.
59:19
And nobody's going to want to be last the party.
59:21
Nobody's going to want to be last the party.
59:23
I think the biggest, I think the biggest thing that like, I think
59:26
people haven't considered right, in terms of this, like, you
59:28
know, like global, like like nation state, like adoption
59:34
theory, right, is like El Salvador has been really the
59:38
only country who's actually implemented, right?
59:40
Like I know the US is talking about doing it, but there's so
59:43
many meta questions that have to be answered, right?
59:45
It's like, how do you custody the Bitcoin?
59:48
Who's in charge of that? Like in a, in a democratic
59:50
system of power, right? Like how do you hand off, you
59:55
know, these control mechanisms not only ensure that the
59:57
bitcoins free and secure, but that like nobody can come in and
1:00:00
steal your Bitcoin, right? Like.
1:00:03
But imagine North Korea hacking the entire strategic reserve of
1:00:08
Bitcoin. It granted, if it's in cold
1:00:09
storage, you know, things should be fine, right?
1:00:11
But it's like, it's just like all these attack factors that
1:00:13
you have to think about in it. And the reason I bring it up,
1:00:17
right, is like, those are things that are going to, you know,
1:00:20
delay implementation on a nation state level that I just don't
1:00:25
think people have like thought about, are given enough thought
1:00:29
and like into right. Like it's like, OK, Trump's
1:00:31
coming into the White House and his administration's coming into
1:00:33
the White House. Anybody who wasn't serious and
1:00:36
thinking that he could win hasn't put thought into it.
1:00:38
And now they're like, oh shit, we we have to figure out this
1:00:42
whole Bitcoin thing. And that's going to take time.
1:00:44
It's like, who do you talk to? Right?
1:00:45
I mean, we know, talk to us. But those are things you got to
1:00:50
think about. Yeah, man, I'm I'm starting to
1:00:54
feel bullish, you know, Nikka, Nikka joked about it on Twitter.
1:00:57
He's like, I'm dead inside till 100 and dead.
1:00:59
It's starting to be fun. I'm starting to have fun.
1:01:01
I'm starting to have fun. I.
1:01:02
I'm I'm dead inside, man. It's my, it's my eighth year,
1:01:06
second cycle. All a lot of impressive bullshit
1:01:10
on the way like. We got to shake the rust off.
1:01:15
Shake the rust off, I think. I think I, I think 100K you'll
1:01:20
start to see like color in my face again.
1:01:22
You know, it'll be like, wow, it's, it's we're back.
1:01:25
Well, we forgot how good it feels.
1:01:27
Anyways, let's get into the culture.
1:01:28
Absolutely. We still got a lot, a lot to
1:01:30
talk about. Let's do it.
1:01:31
Let's. Double clicked adopt all right
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Anyways, I do want to open up the conversation.
1:02:40
I want to take advantage of Alan coming on the show today.
1:02:44
And I just got to say, man, I went to two Bitcoin magazine
1:02:48
conferences this year. And without a shadow of a doubt
1:02:51
in my mind, you guys throwed like the best conferences in the
1:02:55
industry. And I've gone to like I did.
1:02:58
I, I did the counting the other day.
1:03:00
I went to 14 conferences this year, you know, and it's very
1:03:06
tiring and sometimes Opti and I have to go and, you know, do the
1:03:10
production and it's like, you know, it's, it's crazy.
1:03:13
But the Bitcoin conference in Nashville was a historical
1:03:18
event. It kind of reminded me of
1:03:21
Bitcoin 2021 with the 9 Buchelli legal tender announcement.
1:03:25
And you know, Jack Mahler's having that like epic emotional
1:03:28
speech on stage and Max Keiser and, and Saylor, that whole
1:03:32
interview and that was my first foray into conferences to shout
1:03:36
out Nick Hoffman put me on the mainstage.
1:03:38
That was great. And you know, on in a historical
1:03:43
perspective, I equate the Bitcoin 2024 conference to that
1:03:47
conference because you you guys somehow managed to get not only
1:03:54
one, but two kind of mainstream political candidates, RFK
1:03:58
Junior, which just went hard in the paint.
1:04:02
And then, you know, of course, Donald Trump kind of mainstage,
1:04:06
you know, have fun with your bitcoins.
1:04:08
And then of course, you know, to end the year, we find out that
1:04:11
this guy, you guys had the president of the United States
1:04:14
speak at the Bitcoin conference, literally making the case that,
1:04:19
you know, he's going to protect the right to to self custody,
1:04:22
He's going to protect the right to mine, you know, the strategic
1:04:26
reserve getting Cynthia Lummis right after that with the bill
1:04:30
in her hand. It was so epic in so many
1:04:33
different fashions. So kind of want to tee that up
1:04:35
to you guys have Bitcoin Medina. Did I pronounce that correctly?
1:04:40
Mina. Mina, sorry, Bitcoin Mina coming
1:04:43
up in Abu Dhabi at the end of the year, I ran into McShane at
1:04:48
Bitcoin Amsterdam, which was absolutely phenomenal too.
1:04:51
And we were just having a conversation and I felt so bad
1:04:53
because he's like, Nico, do you want to come?
1:04:55
And like instinctively, because I'm went to so many conferences,
1:04:59
I was like, no, because I'm so burnt out after the fact.
1:05:04
I was like, I should have said yes, that looks absolutely
1:05:06
awesome. But you guys have this amazing
1:05:10
conference coming up into Abu Dhabi.
1:05:12
McShane dropped so much sauce talking about it.
1:05:16
You know, you guys have an amazing line up lined up.
1:05:18
So could you talk a little bit about that because I believe
1:05:21
this is the first Bitcoin only conference in the Middle East?
1:05:25
Yeah, so first Bitcoin only conference in the MENA region.
1:05:29
For those who aren't familiar with just like the MENA acronym,
1:05:31
it just stands for Middle East, North Africa, one of the one of
1:05:36
the top regions overall for just financial and you know, shit
1:05:39
coin conferences, But it's a market that's important, right?
1:05:44
And I think, you know, I think the running joke when it comes
1:05:46
to like, you know, Bitcoin conferences as a whole.
1:05:48
It's like, why should I attend? Why should I depart with my
1:05:51
Bitcoin for these like, you know, overpriced tickets and
1:05:54
things? And like, you know, to, to that
1:05:56
I say like, you know, it's totally fair.
1:05:59
Like if you are convicted in Bitcoin and like, you know,
1:06:02
you'd, you, you'd like, don't really care for like the
1:06:04
community play or want to see, you know, like where, where
1:06:08
culture is moving as a whole in terms of adoption, that's
1:06:12
totally fine. Like nobody's like obligating
1:06:14
for you to go, right. But I think where the value
1:06:16
comes on our end that we, you know, we try to give people
1:06:19
right, is, you know, Bitcoin at the end of the day is a
1:06:23
community play and there's tons of great meetups, you know, in
1:06:26
cities like all across the world.
1:06:29
And so starting, you know, in, in starting in 2018-2019 with
1:06:35
doing the original Bitcoin conference in, in San Diego.
1:06:38
And I think we only had like 1000 people show up.
1:06:40
CK tells me this story all the time where like, he literally
1:06:44
was like out on the streets giving away tickets because
1:06:46
nobody wanted to come to 2024 where we have multiple
1:06:52
presidential candidates in attendance.
1:06:54
Now the president, former president, now president-elect
1:06:57
Trump, they're giving a keynote alongside a lot of his future
1:07:01
cabinet members. Like really, you know, says a
1:07:03
lot about how quickly you know, the whole entire gradually, then
1:07:06
suddenly thesis is like played out.
1:07:11
And so like, you know, I, I think it's great in terms of
1:07:14
bringing in new thought leaders and new ideas and continuing to
1:07:17
push the boundaries of what bitcoins capable of doing
1:07:20
because that's, you know, ultimately at the end of the
1:07:22
day, like, I mean, you're challenging the entire global
1:07:24
financial order, right? Like it's, it's, it's, you know,
1:07:30
I think people, I think, I think the, the idea of globalism has,
1:07:35
you know, really bad taste in your mouth.
1:07:36
You know, guys like Alex Jones or like, you know, the
1:07:38
globalist, they're going to take over.
1:07:40
They're making the frogs gay or whatever, you know, but it's
1:07:44
under this guise of like globalism in like a tyrannical
1:07:48
manner. And I don't think a lot of
1:07:49
people have put thought into consideration at what Bitcoin
1:07:52
does for globalism as a whole. And on the free side, right,
1:07:55
Like if, if the 90 if the late 1900s.
1:08:00
So like from 1950, you know, push post World War 2 up to like
1:08:03
today was like, you know, dominated between democracy and
1:08:08
communism. I think where we're at right now
1:08:10
in this point of history is, you know, government held money, you
1:08:15
know, the separation of money and state.
1:08:16
Does the government control money and the and and the global
1:08:19
economy, or is there decentralized level of
1:08:22
governance where like anybody can opt in this thing called
1:08:25
Bitcoin, right and use that money?
1:08:27
And I think when it comes to like, you know, doing the weave,
1:08:30
we're doing the weave here, right?
1:08:32
When it comes to conferences as a whole, right, like I think
1:08:35
that narrative is obviously extremely well established here
1:08:37
in North America. Heck, we just, you know, helped
1:08:40
usher in the first pro Bitcoin U.S.
1:08:42
President in the office, which like 3 years ago would have been
1:08:46
batshit crazy to even think, right.
1:08:48
I mean, three years ago we had it was Bukele on stage and
1:08:51
nation state adopting Bitcoin, which three years prior to say
1:08:54
that would also have been batshit crazy to state, right.
1:08:56
So it's like these cycles are just happening faster and faster
1:09:00
and faster, But that's like the North American, that's like the
1:09:04
North American narrative, right? And So what we started to do was
1:09:06
branch out to other areas of the of, of, you know, the world,
1:09:10
right, to try and continue spreading this message of hyper
1:09:13
bitcoinization and this Bitcoin only narrative, right?
1:09:17
And what we've come to find out. And I think something that was
1:09:18
really apparent to me, like first one, first one we did was
1:09:20
in Europe, you know, Europe, North America, you know,
1:09:24
there's, there's a shared language here, English that
1:09:26
people know and understand the narrative's there.
1:09:29
People get the value prop. Things aren't too different, but
1:09:32
when we went over to Hong Kong earlier this May, it was kind of
1:09:36
like a Bitcoin culture shock for me in the sense that like this
1:09:40
idea of like Bitcoin only and that like it should, you know,
1:09:45
it's got like all this, you know, Austrian economic props of
1:09:48
being, you know, long term way to like hold value, you know,
1:09:53
did not resonate over there in Asia.
1:09:55
And I think part of that had to do with like the Chinese, the
1:09:57
Chinese mining ban, like you, it felt like, it felt like I
1:10:01
stepped into a time capsule and went back to 20/16/2017.
1:10:04
Like the, the dominating conversations that were
1:10:07
occurring there were like, oh, the blockchain and we need to
1:10:11
tokenize this and tokenize that. And it occurred to me, it was
1:10:15
like, holy shit. Like we've been so focused on
1:10:17
just like the Western side of the world that we've totally
1:10:20
neglected this entire other cohort of individuals and people
1:10:25
that could benefit from Bitcoin, right?
1:10:29
And I think Hong Kong's more of an extreme example, but that's
1:10:32
also kind of been the case. And you know, North, North
1:10:38
Africa and the Middle East as like a whole as well, right?
1:10:42
Like this concept of like freedom, money is a little bit
1:10:45
foreign, but ultimately, you know, like a lot of the world
1:10:49
leaders there and you and you have to remember, like most of
1:10:51
this world's dominated by like monarchies, right?
1:10:54
I think they're recognizing that like, hey, we have immense
1:10:56
amounts of wealth and oil and energy.
1:10:58
We get the energy production side.
1:11:01
And so like the logical next step here would be to adopt
1:11:05
Bitcoin. But it's it's taking that
1:11:07
narrative and distilling it down for like a retail base to also
1:11:10
understand that. So to bring new ideas and new
1:11:13
thought leaders into the space, I think is what really brings a
1:11:16
lot of value to the table. And I think we're at a point
1:11:18
now, I'm not even kidding this, like I said this, this is me
1:11:21
trying to be bullish enough, but not being bullish enough is that
1:11:24
I think we're close to a point where we really will be
1:11:26
competing with the Davos's of the world and and challenging,
1:11:31
you know, a lot of, you know, traditional, you know, global
1:11:37
leaders who, you know, want to see us eat the bugs and, you
1:11:40
know, continue forcing down socialist, communist governance
1:11:44
type structures and money. There's an alternative now
1:11:47
that's like almost gone mainstream, essentially gone
1:11:49
mainstream, right? And I think that's there and
1:11:52
where the value lies, right. And if you're retail and want to
1:11:54
come to the conference and event, you know, come to it, but
1:11:57
you know, if you don't feel like you have enough Bitcoin and
1:11:59
ultimately no one ever feels like they have enough Bitcoin,
1:12:01
stack the sats. We live stream it.
1:12:02
You can watch all the stuff on there too.
1:12:05
Absolutely and. No, and it's a great weave and
1:12:08
it's the way that I've, I'm really glad that you brought up
1:12:11
the, the Davos aspect because the way that I've I've talked
1:12:14
about in the past is like if the World Economic Forum is the
1:12:18
contillionary conference, the Bitcoin conference is the
1:12:23
Freedom Conference. And it's like 2 totally
1:12:27
different outlooks on the future of society.
1:12:30
And like really the World Economic Forum is should be
1:12:34
renamed the Fiat conference because the future of that that
1:12:41
like worldview requires coercive means, it requires a top down
1:12:46
kind of control system. It really requires a central
1:12:49
bank digital currency. And I think that the future of
1:12:52
freedom requires something that can't be Co opted, requires
1:12:56
something that isn't decentralized.
1:12:58
Now you guys do and I and I, I told McShane this very
1:13:02
passionately that you guys are going to Vegas and I would love
1:13:05
to be a part of it. And let's talk about that
1:13:09
because we have the upcoming Bitcoin 2025.
1:13:14
You guys threw it in Nashville last year.
1:13:17
Now it's going to be in a Las Vegas, NV at the Venetian Great
1:13:20
Hotel by the way, May 27th through the 29th.
1:13:26
And right now, ladies and gentlemen, if you use the promo
1:13:29
code Trump PUMP, you get 21% off.
1:13:33
And that offer goes until November 10th.
1:13:36
So yeah, man, wait. And I asked McShane this and he
1:13:39
didn't want to. He didn't want to reveal too
1:13:41
much. He gave us a little bit of some
1:13:43
Nuggets. What do you guys have in store?
1:13:46
What do you guys have planned? Because I feel like you guys
1:13:48
like, move the bar so high last year.
1:13:53
You know what, What? What do you guys have up your
1:13:56
sleeves? I mean, I could already think of
1:13:58
something which you know. Yeah, that's where my question
1:14:03
was going. But you know.
1:14:05
I could already think of something.
1:14:06
I mean, should we opt in? Yes.
1:14:08
Is Ross. Going to be.
1:14:09
There, Yeah. When Ross is free, will he be at
1:14:13
the Vegas conference next year? So I think that's that's up to
1:14:16
Ross and Lynn ultimately. But you know, if I were betting
1:14:20
man, I'd I'd bet yes on it. I think I think another way to
1:14:24
look at like what 2025 is going to bring as a whole, right is
1:14:28
like Trump made a a bunch of promises on stage in Nashville.
1:14:36
And like, you know, Trump is now in office.
1:14:38
May, the end of May will mark, I think roughly, you know what,
1:14:42
120 days taking over. And, and granted, like I said,
1:14:46
you know, like people aren't ready for the whiplash that's
1:14:47
about to occur, but I think, you know, having some very capable
1:14:52
people in the cabinet, there's going to be a lot of changes
1:14:55
that have occurred just in that short amount of time.
1:14:57
And so it's like I, I hesitate to say, you know, like holding,
1:15:00
you know, their feet to the fire to making sure that some of
1:15:02
these, you know, changes occur, but we're going to get in real
1:15:05
time a ton of updates on just how is Bitcoin policy playing
1:15:09
out as a whole. It's going to be after MENA,
1:15:11
right? I think there's going to be some
1:15:12
really big announcements that come out of MENA that aren't US
1:15:16
focused, but similar to, you know, the strategic reserve.
1:15:19
I think other countries are going to come out and announce
1:15:21
that they're implementing similar strategies.
1:15:24
And so like there's going to be a ton of updates on all those
1:15:28
things at, at Bitcoin 2025. Nico, you, you mentioned that
1:15:31
2024 was kind of like a, a repeat of a 2021 moment in terms
1:15:35
of scale and the things that were announced.
1:15:38
And if we're tracking on that trend, right, you know, 2021 had
1:15:42
like 10,000 people, 2022 had 35,000 people, 2024 also had
1:15:50
30,000 people. And if we're, you know, just
1:15:52
doing the same, they know exponential increase, we're
1:15:55
looking at like at least like a 6070 thousand person event,
1:16:00
especially with Bitcoin cruising.
1:16:01
Bitcoin will be cruising at like all time highs at that point,
1:16:04
which is really really crazy to think about.
1:16:07
Gnarly. Absolutely.
1:16:09
Bitcoin's going to be at. Six figures though?
1:16:11
Absolutely. Gnarly.
1:16:12
And it's going to be in Vegas too.
1:16:14
Like I mean what? Like you know when when Opti
1:16:19
goes to specific cities. Yeah, I might not be able to
1:16:21
make it to that one. I might have a little too much
1:16:23
fun at six figure Bitcoin. I got concerned.
1:16:27
So Vegas is one of those cities where, you know, I'll wake up
1:16:31
and the first thing I'll do is, you know, I'll text, I'll be
1:16:34
like, are you alive? You know, And then I'll text the
1:16:37
the people that he was last with.
1:16:40
But true. Story.
1:16:41
True story. And, and, and like my, my, what
1:16:45
I thought would happen actually happened.
1:16:48
So, but that's a story for another day.
1:16:50
But anyways, you guys also announced earlier this year, and
1:16:54
I kind of want to talk about that.
1:16:55
You guys announced Bitcoin for corporations, a partnership with
1:17:00
Michael Saylor And, and the whole goal of it was to drive,
1:17:04
you know, corporate adoption of Bitcoin.
1:17:06
And I know Bailey has been talking about this very
1:17:09
passionately on, on, on X, and, you know, I think you guys have
1:17:14
done an incredible job in that regard as well.
1:17:17
So can you talk a little bit about Bitcoin for corporations,
1:17:19
Alan? Yeah, for sure.
1:17:21
So, you know, Bitcoin for corporations, you know,
1:17:26
originally arose out of a conversation that a couple of us
1:17:31
had with Sailor at the same event.
1:17:33
You know, they have they, they hold MicroStrategy World and one
1:17:35
of the days that's out of there is called Bitcoin for
1:17:37
Corporations and it's geared, it's geared towards, you know,
1:17:43
corporations that are looking to institute like a, you know,
1:17:45
corporate Bitcoin adoption. So you have a lot of C-Suite CF
1:17:48
OS types that are there. And the conversation that we had
1:17:52
was essentially like, hey, like, how do we do a better job
1:17:55
advocating for this strategy? And so, you know, originally,
1:18:01
you know, there was some thoughts, you know, our
1:18:03
conference has industry day. You know, it's a day focused on,
1:18:06
you know, people, you know, who are working in the industry, you
1:18:08
know, B to B focused products and that sort of thing, all, you
1:18:10
know, super fun stuff, right? But, you know, we, we talked
1:18:15
about, you know, merging events, you know, that sort of thing.
1:18:17
And it was like, no, like Taylor kept being like, we need to do
1:18:20
something bigger. David kept on being like, we
1:18:21
need to do something bigger. And so ultimately, you know, we
1:18:26
decided to like spin up, you know, I don't even know what I
1:18:30
don't even know if like trade organizations, like the right
1:18:32
thing to call it. But essentially we're like in an
1:18:34
advocacy group now. And we're taking, you know, the
1:18:38
best of what MicroStrategy has to offer, right?
1:18:42
This like open source playbook and their expertise alongside,
1:18:48
you know, our very own Dylan Leclair.
1:18:50
And you know, that what he's done over at Metaplanet.
1:18:54
And we're taking the learnings and essentially distilling that
1:18:57
down into a master class certification program that
1:19:02
C-Suite individuals can come in and, you know, learn the basics
1:19:05
about Bitcoin, but understand all the regulatory implications.
1:19:07
And you know, some of the like, you know, debt leveraging
1:19:11
strategies they can use to accumulate more Bitcoin.
1:19:14
And in tandem to that, right, it's like, you can do this thing
1:19:17
and have like all all this knowledge and education and this
1:19:19
nice little certification that says you're certified to talk
1:19:23
about Bitcoin. But the real value add there,
1:19:25
right, is like we're arming them with the knowledge.
1:19:27
And with that, we are building what I like to say The Avengers
1:19:32
or fantasy football dream team of Bitcoin companies that can go
1:19:38
in and help, you know, the Microsoft's, the The Dells, you
1:19:42
know, the Nvidia's of the world execute that playbook, right?
1:19:45
In a trust, you know, trusted manner, right?
1:19:49
Like, I mean, there's so many, so many things you have to
1:19:52
consider in terms of custody, right?
1:19:54
It's not like, it's not like Michael Saylor holds the keys,
1:19:57
you know, to a cold card that holds all of Microstrategy's
1:20:00
Bitcoin. They have it spread out with
1:20:02
different institutional custodians.
1:20:06
And I think that's, you know, the institutional custodian,
1:20:09
custodian side has been one of the barriers to entry, right?
1:20:11
When you see things like FTX, Block Fi and Celsius, you know,
1:20:15
blowing up. And so, you know, being able to
1:20:20
show the proof of work is like, hey, these are like trusted
1:20:23
companies that we have vetted. You know, we know everybody
1:20:25
who's worked there either through the Bitcoin conference
1:20:28
or, you know, Michael Saylor working with them directly.
1:20:32
It's like, hey, these are the companies we want to work with.
1:20:34
And I think you put all that together, right, the corporate
1:20:37
side, nation state, sovereign side, and then most importantly,
1:20:41
you know, the people, the big, the bitcoiners, the Bitcoin
1:20:44
Maxis. Like I said, you're not bullish
1:20:46
enough. You're going to see just Bitcoin
1:20:48
just RIP so fast past 100K600K, you know, $1 million Bitcoin.
1:20:54
I don't think anybody's ready. I don't think anybody's ready.
1:20:57
And that's going to be the driving narrative this cycle.
1:21:00
Like you're going to see, we already saw it with Microsoft,
1:21:04
right? Their CFO being like, holy shit,
1:21:07
we got to do this MicroStrategy thing.
1:21:09
It's just a matter of time before all the dominoes fall.
1:21:11
The entire S&P 500 is going to be dominated by companies who
1:21:16
hold Bitcoin on the Treasury balance sheet, and that is
1:21:20
bullish for Bitcoin A. 100% I mean, the way that CK said it
1:21:23
was like, you ain't bullish enough, right?
1:21:26
So yeah, 100% agree with you, Alan.
1:21:29
The future is bright, and I'm so glad that you guys are really
1:21:33
pushing this forward because there is an educational
1:21:35
component, right? That is very important.
1:21:37
You know, these are, if you tend to reach those heights of
1:21:41
success, you're an older individual, you've been used to
1:21:44
operating in the Fiat system. All of a sudden this Bitcoin
1:21:47
thing comes around and you're like, what is that?
1:21:49
Like, you know, so it's it's, it's incredibly important that
1:21:52
you guys are doing that from an educational perspective and of
1:21:55
course, the conference from adoptional perspective.
1:21:58
But also like, as you know, as a media guy myself, you guys have
1:22:02
an incredible media production team as well.
1:22:06
You know, the production that you guys have done for Bitcoin
1:22:10
2024 and I just see the improvements every time because
1:22:13
I go to every single conference. So I see the production, you
1:22:17
know, and and and I've I've been part of producing some
1:22:20
conferences myself and I know how difficult it is, but just
1:22:23
every single time you guys are just leveling up, you know, with
1:22:26
the famous news desk that you guys have.
1:22:30
And the one in Amsterdam was incredible.
1:22:32
There was a light shows gnarly, all the different kind kind of
1:22:36
camera angles. And then you guys drew these
1:22:38
like kind of special events that I was also very fortunate to be
1:22:42
a part of the the having live stream that you guys did, which
1:22:44
is so much fun, so cool. And then the recent one, the
1:22:50
election night coverage, which was awesome.
1:22:52
So want to talk a little bit about that if you can.
1:22:56
Yeah. So I think, you know, I think a
1:22:59
lot of people don't realize internally that like, you know,
1:23:02
there's two teams here. There's the Bitcoin Magazine
1:23:04
team and then the Bitcoin Conference team.
1:23:07
And you know, I think the the the strategy we've kind of run
1:23:12
into is like the company is really dominated by like this
1:23:15
four event cycle, Like that's like the Super Bowl that
1:23:18
everybody targets. But you know, I think one of the
1:23:22
things that, you know, Bitcoin magazine has figured out in the
1:23:26
last year is how do we carry on live streams to other facets of
1:23:29
culture, right? So like Nico, you mentioned, we
1:23:32
did the halving live stream in May.
1:23:33
We just did the election live stream two nights ago out of
1:23:36
Vegas. I think a perfect world would
1:23:39
be, you know, getting into a cycle and in a groove.
1:23:43
And obviously we want it to be value additive right at the end
1:23:46
of the day. But having, you know, 4 events
1:23:49
in a year and then, you know, 8 live streams to supplement that
1:23:55
so that, you know, one thing a month.
1:23:57
I think it's kind of like the end, end goal.
1:24:01
But it takes, dude, it takes like the IT, it, it takes a ton
1:24:05
of passionate people at the org to pull off these things right.
1:24:08
And finding the right partners and people that really, really
1:24:11
care about Bitcoin. Like it's crazy.
1:24:13
It's like the passion I see behind the people at Inc is like
1:24:18
unrivalled at like any other company that I've ever worked
1:24:21
at. I mean, people show up and it's
1:24:24
like, it doesn't feel like work. It's just a bunch of Bitcoin
1:24:27
psychos that are just trying to champion forward hyper
1:24:30
bitcoinization as a whole. As for like what's next on live
1:24:34
streams, you know, I'm all ears honestly for ideas.
1:24:38
It's something that we've been trying to like ideate and come
1:24:40
up on. I know Pete Rizzo mentioned
1:24:44
potentially live streaming the upcoming WEF event, giving a
1:24:51
counter take to everything that they're doing.
1:24:54
But like, yeah, things like that, you know, just trying to
1:24:57
like continue to show up case, you know, the counterculture,
1:24:59
the Bitcoin culture, those are things I'm like super excited
1:25:03
about. Awesome.
1:25:05
Yeah. And and I I, I can't emphasize
1:25:07
enough guys like the Opti and you know, we put, we put a lot
1:25:11
of love into this, but it's a little bit Gunzo compared to the
1:25:14
operation that you guys have. Guys.
1:25:17
It's like a full on set, you know, with production crew,
1:25:21
multiple cameras, professionally done sets.
1:25:24
It's it's really, really impressive to just kind of see
1:25:27
how much, you know, how much, how much resources and effort
1:25:32
you guys put into it. And I think, you know, it
1:25:34
reflects in in the work that that comes out of it.
1:25:37
So anyways, dude, it's been an honor to have you on simply
1:25:40
Bitcoin. Love to have you back on again.
1:25:43
I don't know why you haven't come on sooner.
1:25:46
It's been in the dungeon, you know, stacking SAT pushing hyper
1:25:50
bitcoinization. You know, I appreciate the the
1:25:52
invite on. It's been a ton of fun.
1:25:54
Do you have any last words for the roughly 15116 hundred people
1:25:58
watching live right now? Stay humble Stacks ATS you're
1:26:01
not bullish enough and subscribe to Simply Bitcoin.
1:26:05
Appreciate it. Nico and Opti are like, you
1:26:07
know, the goats Love having them come on the desk, love having
1:26:10
them come on our live stream events.
1:26:12
Maybe one day we'll weave the two together.
1:26:15
Maybe. Maybe.
1:26:17
A weave. We got to feel the weave meme on
1:26:19
here. We we too many times.
1:26:22
Anyways, everyone, ladies and gentlemen, this was your
1:26:24
assembly Bitcoin live for November 7th, 2024.
1:26:28
I'm your Co host today, my legendary my my brother from
1:26:32
another mother and the host in today is Optimus Fields and of
1:26:36
course our guest Alan Helm. Go give him a follow on X.
1:26:40
It's officially X now. I've made the conversion in my
1:26:42
head. If you guys enjoyed the show,
1:26:44
you know what to do smash the like button.
1:26:45
Consider subscribing. Guys, go check out Bitcoin
1:26:48
magazine. They have amazing content.
1:26:50
They throw the best conferences, you know, and Bitcoin for
1:26:53
corporations are really, really moving the needle in terms of
1:26:56
global Bitcoin adoption. Of course, you know, we, we, we
1:26:59
love those guys over there. And Alan, thank you so much for
1:27:01
coming on the show. All right, everybody, we'll see
1:27:03
you tomorrow, Opti again, we'll be in the host seat.
1:27:06
My brain needs a wake, a break, but I will be back in the host
1:27:10
seat next week. But until then, guys, stay
1:27:13
tuned. I think Dante's dropping an
1:27:14
episode later today. Peace out, everybody.
1:27:17
Cheers All code was brought to you by bitcoinwell.com, a
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1:27:24
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