Latest / Simply Bitcoin / Forget JP Morgan: This is who is really suppressing the Bitcoin price... | EP 1444

Transcript

Forget JP Morgan: This is who is really suppressing the Bitcoin price... | EP 1444 · Simply Bitcoin

0:02
The firm accused for suppressing Bitcoin for the past six months
0:06
was just revealed as being one of the biggest buyers over that
0:10
time frame, and it wasn't JP Morgan.
0:13
The truth about Wall Street's attempted Bitcoin takeover just
0:17
got even more insane. Really.
0:20
Never trust what Wall Street says.
0:22
Just watch what they do and you will get all the signal.
0:25
But before I get into this story, I do want to set the
0:28
stage with this clip from Samson Mao, which I think fully
0:32
explains where we currently are in the cycle.
0:35
Well, I've always maintained that it is inevitable that banks
0:39
and even countries will get into Bitcoin because they just want
0:43
what is valuable. They cannot dictate what is
0:46
valuable to the world. That is the the crux of the Fiat
0:50
experiment that they try to dictate that paper is valuable.
0:55
They managed to get there and the majority of the world does
0:58
believe that paper or even the virtualization of that paper in
1:02
your bank account is money. And I think that illusion is
1:05
starting to shatter. But the point I'm trying to make
1:07
is that these large centralized institutions cannot maintain
1:11
that forever. Money is dictated by everybody
1:14
in the world, right? We decide what is valuable.
1:17
But I think that's another thing people have to think about,
1:19
especially Bitcoin, is that you have to think adversarially that
1:23
everyone wants your Bitcoin. If Bitcoin is the most valuable
1:27
asset in the world, then everyone's going to want to get
1:31
it. And the only way to get it is to
1:34
play some psychological game unless they can.
1:37
Unless you're paper handed, lettuce handed, you know, and it
1:42
really eager to sell, to take a Fiat profit, you're going to
1:45
hold that asset, right? So the only way is to wage
1:48
psychological warfare. And that can be done, you know,
1:51
through public statements or through market suppression of
1:54
Bitcoin and keeping the price low to break your spirit.
1:58
So I think you have to think adversarially that everyone is
2:01
running a sigh up on you. All the big financial
2:03
institutions, they want your Bitcoin and they're going to
2:05
tell you Bitcoin is bad to your face while they buy it from you
2:09
when you sell it. Everyone is running a sigh up on
2:13
you. They all want your Bitcoin.
2:15
I've been saying this has basically been the process since
2:19
Wall Street got into Bitcoin, since the institution got in.
2:22
And it really started to make sense to me when we, you know,
2:26
started to crash from the 126 high.
2:28
I'm like, dude, you know, maybe Nico's right, maybe it was the
2:32
cycle theory playing out, but with all the good news, you just
2:36
start to wonder is like, are they are they trying to get
2:38
Bitcoin at a discount? Well, guess what guys, It has
2:42
been revealed in the 13 FSEC filings that this is exactly
2:46
what's going on. So what am I talking about here?
2:48
We have zero hedge highlighting this and they go you'll never
2:51
guess who bought the second most.
2:53
I bit the Bitcoin ETF, the BlackRock Bitcoin ETF and Q4.
2:57
So let's zoom in here. Who?
3:00
Who is the name right here? Who is the #2 ibit buyer in Q4?
3:07
It is Jane Street. Now, remember, we've been
3:11
covering this idea as you know, if you've been watching the
3:14
Bitcoin price, Bitcoin basically crashes or has been crashing
3:19
since around October. You know, it happened in
3:22
October, it happens in November. It's it's been the past couple
3:25
of months that almost like clockwork at the open of the
3:29
markets at US time around 9:10 AM in the morning, you get this
3:33
huge dump on Bitcoin. And there was, you know, some
3:36
investigative journalism going on, on, on, sorry, on Twitter,
3:40
basically showing that this is seemingly James St. coming out
3:44
here. And they're market makers, one
3:47
of the biggest market makers on Wall Street.
3:49
And like again, like clockwork, they probably have the algorithm
3:53
set. They're just dumping the Bitcoin
3:55
price at the exact same time. Even when we knew it was going
3:59
to happen, they, you know, overpower us with liquidity.
4:03
They dump it at 9:10 AM every morning, almost every morning
4:07
some days. They take days off for the most
4:09
part. If you're looking at the markets
4:11
opening, 9 AM, 10 AM, first hour of the markets, Bitcoin was
4:16
gonna tank. We've been seeing this play out.
4:18
It was a rinse and repeat process and a lot of people were
4:22
speculating that, oh, this is Wall Street just trying to
4:25
suppress the price of Bitcoin. When I came out on the show and
4:28
was talking about this, I started making the case that I
4:31
don't think it's them just wanting to quote UN quote, kill
4:34
Bitcoin here. It's not that they're trying to
4:36
get Bitcoin to zero. I think what they were trying to
4:38
do was essentially lower, you know, the price of Bitcoin so
4:41
that they can start accumulating Bitcoin.
4:43
That is the smartest move to make.
4:45
If you understand that Bitcoin is unstoppable, if you
4:48
understand that there is a paradigm shift going from the
4:51
analog world to the digital world and Bitcoin's not going
4:54
away. As the saying always goes, it's
4:56
either going to $1,000,000 or it's going to zero.
4:59
And most of us know it is not going to zero.
5:02
Well, what do they do? They're like, hey, first year,
5:04
we can actually get into this. Let's get a good discount on it.
5:08
Remember, Wall Street essentially got into Bitcoin at
5:12
100K price Mark. That is their entry point and I
5:16
think they're really enjoying this 50% discount on Bitcoin
5:20
because they are accumulating Bitcoin or paper Bitcoin through
5:23
the I bit ETF. But let's go a little further
5:26
here. You know, here's some responses
5:29
of of what are they doing and this is a pretty good one.
5:33
He goes James St. was accused of putting pressure on Bitcoin
5:36
during U.S. market openings. But being the second largest
5:38
buyer on Ibane Q4 shows how the game is really played.
5:41
They control the price and strengthen their position with a
5:44
classic sell low buy lower strategy.
5:47
Wonder what else will witness and it that's that's what's
5:51
playing out. If you feel demoralized.
5:54
I know, I know we got a little demoralized on the show.
5:56
We're like, it's going up. How long is this bear market
5:58
going to happen? I even was like, at this point,
6:01
can we just tank the price to whatever the lows is going to
6:04
be? So we know where we're going so
6:07
we can stack cheap sets and then get the game going because we
6:10
know it's not going to stay down forever.
6:12
But this kind of sitting in limbo area, you know, this
6:16
sitting in limbo psychological toll that we're dealing with
6:19
that we've been dealing with for over a year.
6:22
We're I think we're just all bored to death.
6:24
And, and obviously, as the Samson Mao video explained, that
6:28
is the point of all of this. If we were all disappointed in
6:31
2025 when we were supposed to have a parabolic run and we're
6:36
in the first two months of this year, 2026 and we're all still
6:39
feeling disappointed and demoralized.
6:42
Yes, on the one hand, obviously we get cheap sats, we get cheap
6:46
Bitcoin, we get it on discount. On the other hand, we're
6:50
basically back to 2021 highs. It's like it's been 4 years, all
6:54
games have been, you know, erased and we're like what is
6:58
going on? Something has fundamentally
7:00
changed since the institutions got in.
7:03
Well, no surprise, Wall Street is playing Wall Street games
7:07
here. They understand how valuable
7:10
this Bitcoin is. Even if they say it's not, even
7:13
if they go out there and say, hey, you know, I would stay away
7:15
from this. It's too volatile, it's too
7:17
risky. What do they used to say?
7:19
Index of money laundering, etcetera, etcetera, etcetera.
7:22
What are they actually doing? They are accumulating a larger
7:26
position in Bitcoin. Now, the intricacies of this is
7:31
where things do get a little interesting because you're
7:33
probably asking yourself, it's like, OK, you know, James St.
7:36
they're just selling Bitcoin, but what are they really doing?
7:39
Because then they're accumulating Bitcoin.
7:41
Obviously you get cheap Bitcoin, but when you understand the
7:44
mechanics of this, you understand that they're making a
7:46
boatload of money whether the price goes up or the price goes
7:50
down. So I have a good thread.
7:52
It's over Bros. No, it is not over, Bros.
7:56
I have a good thread kind of breaking down the mechanics
7:58
here. I don't want to really read the
8:00
whole thing, but there is, you know, there's some signal in
8:04
this. So smart money crypto, which you
8:07
know his name, it's probably an oxymoron.
8:10
You're not smart money if you're in crypto, you're smart money if
8:13
you're all in Bitcoin. But anyways, here is his
8:16
breakdown of this. And I, I think this is probably
8:19
what's going on or rather I'm, I'm like 99% sure that this is
8:22
exactly what's going on. James St. pushes the price down
8:25
or other Wall Street market makers, as we've seen, you know,
8:29
we were, we were definitely saying that JP Morgan crashed
8:32
the price because they were fighting strategy.
8:35
And then miraculously a couple of days later, once it hits the,
8:38
I believe it was the November kind of low, they announced
8:42
their own Bitcoin back loan products.
8:44
So again, they're basically getting the regulatory clarity
8:48
to get into Bitcoin or crypto, whatever you want to say.
8:51
And then they launch their Bitcoin products at the Lowe's.
8:56
They accumulate the coin. And then now we will probably
9:00
start seeing the tide shifting when they are all actually got
9:04
their bags filled, when they're all in a position that they feel
9:07
comfortable about. The market makers will flip this
9:10
from shorting it from suppressing the Bitcoin price to
9:12
letting it run and then of course pushing it up and doing
9:15
the same techniques to get the price higher.
9:18
So again, James St. pushes the price down at the same time by
9:21
millions of shares. Here's the full story.
9:23
Again, I broke this down every morning at around 10:00 AM.
9:27
Nine to 10 AM is usually when it happens.
9:29
The same exact thing happens. Bitcoin pumps during the Asia
9:33
sessions. Europe keeps pushing, everything
9:35
looks good, then the US markets open and within minutes the
9:39
price drops like someone flipped the switch, liquidating or
9:42
cascading liquidations. Retail gets flushed out and
9:46
everyone, we've basically been tracking this for months.
9:48
We've all been talking about this.
9:50
We've all been seeing this happen.
9:51
The 10 AM slam, basically when the US markets open, we get
9:55
cooked. Now when you looked at the 13 F
9:58
filings, obviously yesterday we mentioned that it's not just
10:02
Wall Street institutions that are accumulating Bitcoin.
10:04
We're seeing sovereign wealth funds accumulate Bitcoin.
10:06
We're seeing a lot of good rhetoric around Bitcoin.
10:10
We're guessing and speculating that probably the US government
10:13
is also part of the stacking Bitcoin.
10:15
It's all a little too coincidental to not put your
10:18
tinfoil hat on to not be like, yeah, they want to get the
10:21
Bitcoin price 50% off, get themselves a good position, and
10:25
then the fun will happen. So again, James St. one of the
10:28
biggest market makers on the planet, It's not a hedge fund.
10:30
They're not a speculator. They're a liquidity provider.
10:33
They stand between the buyer and the seller and make money on the
10:36
spread. So they're making money either
10:39
way. But at the same time, while they
10:41
make their money, they slam the Bitcoin price.
10:43
They're accumulating Bitcoin on the back end as well.
10:46
In India, the exchange regulator, the Sebby, has
10:49
already sanctioned them for manipulative trading and
10:51
derivatives. This is on record.
10:53
And now the numbers. Q4 of 2025, they added 7.1
10:57
million ibit shares. Their total position now is 20.3
11:00
million shares valued at around $790 million.
11:05
They're also the 4th largest IBIT holder worldwide.
11:08
And in that one single quarter, they added 54% of their
11:14
position. So the price of Bitcoin went
11:16
down about 50% and they added about 50% gained on their
11:21
position. Tell me I'm crazy.
11:24
Tell me I'm seeing things here. But it sounds a little too
11:27
coincidental for me. So the play.
11:29
But James St. doesn't operate on on chain.
11:32
They trade through ETF flows, which makes them almost
11:36
invisible to normal tracking tools.
11:37
But the mechanics are simple. When you're the market maker for
11:40
the biggest Bitcoin ETF in the world, you control the order
11:43
flow. You see where the liquidity
11:45
sits, you know where the stop losses are.
11:48
And so you drive the price there so that you can make even more
11:52
money. And when you push the price into
11:54
those those zones, you see the cascading liquidations that
11:57
we've been watching, that we've been covering for you guys on
12:00
the show. And then of course, you get
12:02
cheaper entry prices, you get a bigger bite of the pie.
12:06
This is what's happening. Now.
12:08
We know for a fact that this is what's happening.
12:10
We were speculating. We had a feeling, we had a gut
12:12
level feeling that this was happening.
12:15
And now the SEC filings, the 13 F filings show us that in fact,
12:18
this is what is happening. Of course, you rinse and repeat
12:22
until that playbook doesn't work anymore, until those tools don't
12:25
work anymore. And of course, they're not the
12:28
only ones doing this. There's other players in in in
12:30
the markets, of course, whether it's the Goldman Sachs, the JP
12:33
Morgans, the sovereign wealth funds, maybe even the US
12:37
government or other nation states around the world.
12:39
And of course there's other market makers out there.
12:41
The game is the same as what I've been telling you guys for a
12:44
while. They want your Bitcoin, They're
12:47
doing whatever they can to liquidate us, to demoralize us.
12:51
And if you kind of connect this with the river graphics that we
12:54
were showing you yesterday, about 600 + 1000 coins have left
12:59
individuals hands and have ended up in the Bitcoin treasury
13:03
companies, in the corporate balance sheets, in sovereign
13:08
wealth funds. They're dude, they're literally
13:11
cooking retail right now. Most people are getting cooked
13:15
right now. They're asleep at the wheel
13:17
like. A like a slow cook like a.
13:19
Slow. Cook like a grill.
13:20
Like a like a smoker, like a like a good brisket getting
13:24
smoked. Y'all are getting smoked right
13:27
now. All right.
13:28
So anyways, last thing for everyone else, there's one
13:31
simple rule. Oh wait, actually let me let me
13:33
do this top one. This one's better.
13:35
So my read when the world's biggest liquidity providers are
13:37
doubling their Bitcoin position while retail gets bled out every
13:40
morning, that's not a broken market.
13:42
That's a market working exactly as designed for the people who
13:45
designed it. For everyone else, there is one
13:48
simple rule. If you're trading with leverage
13:50
around the US open time, you're not the player, you're the
13:53
product. Your stop losses are the entry
13:56
prices. The positions keep growing, the
13:59
patterns keep running and retail keeps staring at red candles
14:02
every morning morning at 10 O one guys, it's playing out
14:07
exactly as this, like a four year BBQ.
14:10
Exactly. Shinko Nakamoto gets it guys.
14:14
Everything you've been feeling has now been fully confirmed.
14:18
Yes, maybe the four year cycle is still on exactly as we all
14:21
knew. Maybe it's not going to go as
14:23
low as we thought it was, but they literally, you know, leaned
14:29
into the narratives. Everyone thought there was going
14:32
to be a four year cycle. So what do they do?
14:35
They they crash the market. They make their money on the
14:38
spread. They continue to crash the
14:41
market at the US market opens, but at the same time, they're
14:44
not just trying to crash the market so that the price of
14:47
Bitcoin goes to 0. They're trying to get a better
14:50
price entry into Bitcoin. They're trying to accumulate
14:54
more Bitcoin. So this is where they think
14:56
they're going to get their power from is by accumulating or
14:58
concentrating more of the pie into the Wall Street hand, which
15:02
is what I've been telling you has been happening for months
15:04
now. It was a gut feeling.
15:06
It was a speculative feeling. It was an intuitive feeling on
15:09
my end. It's like this is this just
15:11
makes sense to me. This is, this is just Wall
15:14
Street games playing out. Now I have the data to show you
15:17
guys that this is in fact going on, that all this, you know,
15:21
demoralization, all this boredom that we've been feeling is going
15:25
exactly to their plan. Again, I've said this in the
15:28
past, retail is no longer in control of the Bitcoin price.
15:33
For better or worse, that's just what's happening.
15:36
So you can either try to fight the tsunami coming or you do the
15:39
same thing. Maybe you don't have, or rather
15:42
we don't have the tools to be market makers to, you know, see
15:46
in the order books to know where the stop losses are, to know
15:49
where the equity is sitting. But we can still do the same
15:52
thing, which is acquire more Bitcoin, which is the whole
15:56
point of the show. This is the whole point of us
15:58
coming here every single day. Yes, some days we're a little
16:01
more negative than others. Some days I'm just full bull
16:04
tard hopium, but the game is still the same.
16:08
I've been saying this for years. It's a game of Pac-Man.
16:10
It's a game of Hungry Hippo. The name of the game is
16:13
accumulation, and Wall Street is figuring out that game
16:17
themselves, though they have a lot more tools to get it get
16:20
Bitcoin at the entry they want. It's clear as day that this is
16:24
happening. Nico and I've been talking about
16:27
it on the show. We've even had, you know,
16:29
friends tell us that are, you know, not just Youtubers
16:33
basically said this is exactly what's happening.
16:35
They're rinsing, repeating this process.
16:37
Don't get shaken out, just continue to accumulate.
16:40
It's clear as day now, guys, this is what's happening.
16:43
This is the game exposed. Wall Street is here.
16:46
They're playing Wall Street algorithm games and they are
16:50
trying to, you know, get a bigger, bigger share of the pie.
16:54
They're they're getting more shares of I bit I'm guessing
16:57
some of them are probably getting spot Bitcoin themselves.
17:00
But here's the game loud and clear.
17:02
This is what's happening. So play the game as well.
17:04
Accumulate Bitcoin, continue to buy Bitcoin, don't stop buying
17:07
Bitcoin. And and for for the love of God,
17:11
do not sell your entire stack right now because you think it's
17:14
going to go lower, because I'm sure at a certain point this is
17:18
going to they're going to flip the switch and it's going to go
17:20
in the exact opposite direction. So enough, enough of me ranting,
17:25
Nico. Did we finally, finally expose
17:28
the game out there? Are we finally vindicated it?
17:32
It only took about two months. I mean, I don't know, man.
17:37
Like things are just kind of like things have been weird.
17:41
That's that's all I got to say. Things have been weird since the
17:45
approval of the ETFs and it's a different market.
17:51
And for better for what? Wait, wait, wait, someone goes
17:54
acquire more with what? Things have been weird, bro.
18:00
It's a different market, Opti. I know you feel it.
18:03
The vibes are different, the feelings are different, the
18:05
commodity is different. What commodity?
18:09
There's no there's no lab. There's no community lab.
18:12
It's. Non existent bro.
18:13
It's it's so things have changed, you know, and that's
18:16
one of the things that worries me about this cycle.
18:19
We showed you guys a graphic from River Financial yesterday
18:22
on yesterday's show. Yeah, maybe, maybe let me let me
18:25
pull it up real quick. Basically, you had a net loss of
18:31
600,000 Bitcoin leaving from the hands of individuals into the
18:37
hands of governments, ETFs and businesses.
18:42
And I also think that they're like Bitcoin took a a giant
18:47
reputational hit as well, I would say.
18:51
And that reputational hit is basically this perception that
18:57
Bitcoin is not for. This perception that Bitcoin is
19:05
not for, you know, it, it, it's not for, like it's not living up
19:11
to the digital gold narrative. Like there, that perception is
19:15
really strong and, and you know, last year really didn't help the
19:21
case at all whatsoever. So, you know, I think things
19:25
have have changed, man. Like that's, that's my, my take
19:29
on this. But I mean, we've been harping
19:31
on this exact subject for like 6 months now.
19:33
Like things have changed. Now the question that I think is
19:38
on everybody's mind is where does this narrative go from
19:44
here? I think that's like the the
19:46
million sack question because you know, as we head into 2026
19:50
and then 2027, every single cycle there's a different
19:54
narrative, There's a different vibe, right?
19:57
You know, 2017 it was the retail vibe. 2021 it was like the layer
20:03
one shit coin vibe. And then 2025 was the was the
20:10
Bitcoin treasury company vibes and the paper Bitcoin summer
20:15
vibes. So what is the next vibe?
20:19
That's what I want to know. Like that's really the big
20:22
question. That's really what everyone has
20:25
at. That's really what everyone has
20:28
top of mind. But I will tell you something
20:31
though, guys like these, these bear markets have a way of
20:36
basically resetting the tone and like remember reminding a lot of
20:41
us as to why we are here in the first place.
20:44
And I think that this bear market's no different.
20:47
Like I think This is why we're here.
20:49
This is, we got to remember, I think that revolutionary fire
20:53
that we had in the early days of Bitcoin, you know, in the
20:56
20/17/2018 era, that's gone, it's not, doesn't exist anymore.
21:03
And you know, Bitcoin is just becoming another financial asset
21:08
in the eyes of the world. And you know, we have to
21:11
remember the fundamentals. We have to remember why we are
21:14
here. We have to remember why we came
21:17
here. What what was the purpose of us
21:19
coming here, of us buying Bitcoin, of us putting Bitcoin
21:23
into self custody? We really wanted to change the
21:26
world for the better. I remember Andreas Antonopoulos,
21:29
his epic lectures about, you know, how Bitcoin was
21:33
essentially going to challenge, you know, the global bar banking
21:37
cartel. And now it's basically like, oh
21:40
bro, I hope the global banking cartel buys our bags like that.
21:45
That's really what it's become. That's really what it's become,
21:48
you know, so I hope we go back to, you know, the the basic
21:55
principles, the basic ethos of Bitcoin because that's why we're
21:59
here. That's what's going to change
22:00
the world. And you know, I, I want to move,
22:04
I want to move back in that direction.
22:05
We won't be back until Nico Jones comes back every single
22:08
day. I mean, I, I, I, I am back.
22:12
I I went Nico Jones. Yeah, on yesterday's show, this
22:15
low energy guy is not Nico Jones.
22:18
Is is this? Is this Is this?
22:20
Is this Suitcoin Jones? I mean, you're wearing a
22:23
financial vest right now, so yeah.
22:25
I love hive, I don't know what you're talking about.
22:27
I there's nothing about Hive, it's more about the best you got
22:31
the you got the uniform on. I thought it was comfortable.
22:33
I thought it was very comfortable.
22:35
I thought it was a very comfortable.
22:36
You know, I needed a sweater today and I I need.
22:39
Nico in a hoodie ranting about you know what?
22:43
What was the Alex Jones interdimensional Aileen?
22:48
Dude, I'm getting Boomer. I'm getting Boomer.
22:51
Nico, not Nico Jones. OK.
22:54
I I got to get Nico on coffee or something because we got to get
22:57
the energy up. We got to get the.
22:59
Energy. As you can tell, Nico is totally
23:01
demoralized by the price action. So Wall Street is doing exactly
23:05
what they're what you know, their plan is working out
23:07
exactly as planned because Nico's over here demoralized.
23:11
No, no. No, OK, so let's let's do it.
23:13
Let's actually no, no, no. OK, let's talk about it.
23:16
OK, so this last cycle was a fucking scam.
23:19
All right, let's just start off with that basis.
23:22
I think we can all agree on that, right?
23:25
We never got the euphoric glue off top that Bitcoin normally
23:29
gives. And that obviously leaves a lot,
23:33
you know, to it. It it it took a lot of people's
23:37
expectations and it crushed it into tiny atoms, right?
23:41
So right now, Bitcoin is kind of in this uncharted territory,
23:48
which I've been saying for the last couple days, which I think
23:51
is a good thing and not a bad thing, and I'll get to that in a
23:53
second. But we have been living off this
23:57
high for the last three years, and this high was basically
24:01
Bitcoin's going to win no matter what.
24:04
It's 100% with 100% certainty. That was the general consensus
24:10
in the Bitcoin community that really that's what it was since
24:14
the bottom of the last bear market, which Michael Saylor
24:17
admitted yesterday. We're in a bear market.
24:19
Finally. The first time he admitted to
24:21
it. Dude Waters.
24:22
Wet, he said. He said crypto winter, right?
24:26
But look, the the matter of a fact is, is that we have not
24:31
experienced this since 2022, right?
24:36
So it's been like 3 to 4 years since we've been in a bear
24:40
market. We don't know what this, this
24:43
feels like anymore. We have forgotten what this
24:46
feels like. Now add to the pain is the fact
24:50
that we never got a euphoric top.
24:53
So we waited from 2021 to 2025 to basically get a taste of
25:01
kissing the dragon and. It was horrible.
25:06
It was, it was. It was a tease.
25:08
It was like we had a euphoric feeling.
25:11
The price action really didn't really match that and now we're
25:15
heading into, you know, Bitcoins kind of corrective measure and
25:19
stuff like that, which Bitcoin always does.
25:21
A lot of things that people are not talking about as well is
25:24
that a lot of these treasury companies took a lot of the
25:27
alpha away. So instead of of people buying
25:30
spot Bitcoin and putting that into self custody and then a lot
25:35
of that going into the price going parabolic, a lot of that
25:39
alpha went into the Bitcoin treasury company.
25:42
So you did have a parabola if you you bought strategy, you did
25:45
have a parabola if you bought Metaplanet.
25:48
And I think a lot of that got redirected from spot Bitcoin to
25:54
a lot of the Bitcoin treasury companies.
25:55
So if you're a spot Bitcoin holder or advocate as we are on
25:59
Simply Bitcoin, I think that this previous cycle, you know,
26:04
really put the pulled the rug out of you, pulled the rug under
26:07
you out of out of you. I don't know what the saying is,
26:10
but the point. Is pulled the rug from under
26:12
you. There you go.
26:13
Thank you, Opti, but but I got some good news.
26:15
I got some good news. And the good news is this the
26:18
Bitcoin treasury game, it's over, it's done right.
26:23
Like the fact is. It you think so 100% none of
26:26
these strategy will come back. Strategy's the only one that
26:30
will come back because it has a core underlying business
26:35
underneath it. If you're a core, if you're a
26:38
just a treasury company, there's no core business underneath you
26:44
that's generating revenue for your business to justify its
26:49
value in the markets. I mean, I totally get that, but
26:52
what does strategy do? Strategy.
26:55
No, I know. I'm trolling.
26:57
I'm trolling. I'm trolling.
26:57
It's it's a business analytics company.
26:59
It's software company, but it's software.
27:01
I I'm I'm trolling. It's a software company.
27:03
So so it's a software company. So bit strategy does have a core
27:10
underlying business. They have thousands of
27:11
employees, right? You know, I think that if you're
27:17
a pure treasury company, I I, I just like, what is it that you
27:22
do? What is it that you make?
27:24
What is it that you, what cash flow do you have?
27:27
So you're just you like your whole, your sole purpose is just
27:31
to accumulate Bitcoin. That's it.
27:35
I guess so I just that's my sole purpose.
27:38
No, that's fine, but you're not a publicly traded company.
27:41
I could be. It's also like you're.
27:42
Solety on the stock. Sole Your sole purpose is to
27:46
accumulate Bitcoin, take on debt.
27:49
Here we go. You're Ultradiff.
27:51
Got it. You raise capital, but it's just
27:53
you raise capital to buy Bitcoin and then and then it's just and
27:56
then hopefully number goes up. Wait, wait.
27:58
It's like wait, hold on, you write, wait.
28:00
It's one raise capital two buy Bitcoin, three question mark and
28:03
dilute your for. Profit.
28:05
Dilute your shareholders in the process.
28:08
Like is that the whole purpose? Like that's not a company.
28:10
Apple makes something, Microsoft makes something, right?
28:14
I understand the ETFs. The ETFs make perfect sense.
28:18
Like I I I personally wouldn't buy it because they they charge
28:21
you a a yearly management fee and all that stuff.
28:24
But simultaneously you're buying the ETFs to get exposure to spot
28:28
Bitcoin. That's why you're buying the
28:30
ETFs. What's the purpose of buying a
28:32
treasury company? It's basically like a pseudo
28:34
ETF. It's like a leverage play on
28:36
Bitcoin. It's like if you're not allowed
28:37
to buy the ETF because of regulatory reasons, you buy
28:41
strategy. So you get exposure to Bitcoin
28:43
that way. But it's really like a levered,
28:45
A levered play on Bitcoin. That's really what it is.
28:51
Someone says it's time for an energy drink sponsorship all.
28:56
Right now, we're gonna take a second to give a shout out.
28:59
Hey yo, white monster, that'd be lit.
29:01
White monsters are delicious now.
29:02
We're gonna take a second to give a shout out to Red Bull to
29:07
we'd have to do some crazy shit like Opti would.
29:10
Have to dude, we do this show every day.
29:12
That is some crazy shit. Opti would have to like jump off
29:14
a plane, you know? Do 3 not.
29:17
Going to happen that that would be crazy.
29:19
Content. I can't do that.
29:20
I can't. That would be crazy content.
29:22
No, it's not going to happen. That would be some crazy.
29:24
Content. Not going to happen.
29:25
Why not? First of all, I can't do
29:28
backflips. Second of all, I don't want to
29:30
jump out of planes. Yeah.
29:30
Yeah, but you're going to do it with a, you're going to do it
29:32
like Red Bull style, like with the parachute after doing some
29:36
somersaults. No, no, no.
29:38
You're. Going to be smashed.
29:40
By I'm not the big fan of of heights you're.
29:42
Going to go on bitcoinwell.com from your phone while you're
29:46
jumping off a plane in a parachute and you're going to be
29:48
smashed by Bitcoin. Lame content.
29:53
L content. I thought I think it'd be dope.
29:56
Yeah, but you're also a boomer now with dad jokes.
30:01
Alright, let's give alright everybody.
30:03
It's going to be a great show. We got some really good clips
30:06
for you guys from yesterday. So yesterday was the World
30:10
Liberty Forum where the Trump family got together.
30:13
We have pictures of CZ there. We had some comments from the
30:17
Trump family. They're calling for $1,000,000
30:19
Bitcoin. CZ was talking to the CFTC
30:23
chair. The probability that the Clarity
30:26
Act will pass went all the way up to 90% yesterday, just based
30:33
off this conference, just based off this forum alone.
30:36
So that's some pretty good stuff.
30:38
That's some pretty good news. So we have some clips, we have
30:42
some things where we're going to talk about.
30:44
We're going to break it down. Apparently, this was the place
30:47
to be. And again, you're once again
30:50
seeing a pattern that I keep pointing out to you guys and you
30:54
guys keep ignoring me on which is guys, ladies and gentlemen,
31:01
ladies and gentlemen, YCZ and the Trump family and Sailor all
31:10
together all buying Bitcoin. If they didn't think that daddy
31:15
Trump was going to make the announcement eventually.
31:19
I do you think he'll make it before the midterms or after the
31:22
midterms? That's.
31:24
The it's they have to do it before the midterms because
31:27
after the midterms are cooked. They might impeach him if.
31:31
He doesn't. He's not even.
31:32
Yeah, he's got to not do anything after the midterms.
31:35
He's going to get impeached for for buying Bitcoin after the
31:38
midterms anyways. All right, everybody, it's going
31:40
to be a great show. We're going to be right back in
31:42
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Again, promo code simply at the time of recording, the Bitcoin
34:26
price is $66,570. Sats per dollar 1502 Block
34:33
height 937,937 thousand 436 Realized monetary inflation .83%
34:42
Market cap 1.33 trillion Bitcoin versus gold Market cap 4.45%
34:48
Percentage issued 95.19% I don't know how else to cut it for you
34:52
guys. Like Bitcoin's in the shitter
34:55
right now. It's in the shitter, all right.
34:57
It's on discount. It's, it's, it's not doing so
35:00
hot, right? You're getting it at a, at a
35:02
massive discount. If you're buying Bitcoin right
35:05
now, it's declined from all time highs at 47.2%.
35:10
So if you're buying Bitcoin right now, you're getting it at
35:13
a 40, almost a 50% discount. It could be going lower, we
35:18
don't know, but. It's a buy one get half off
35:22
special. I'll put it to you this way,
35:26
Bitcoin is lower than its 2021 peak.
35:30
That doesn't feel too good to say.
35:32
Anyways, moving on. So let's talk about our boy CZ.
35:41
Our boy CZ, Opti and him are good friends.
35:44
Opti and him were at 11 here in Miami on October.
35:49
On. October 10th, I don't know what
35:52
they were doing but they nuke the fucking price bro.
35:57
Spent a lot of sense. Totally worth it.
36:04
Opti Opti's totally responsible for the current bear market.
36:09
Anyways, Yeah, all seriousness, what is the signal?
36:13
What's the news here? So the Liberty Phi, the the
36:18
World Liberty Forum happened yesterday.
36:23
And of course, you had the Trump kids there and you also had CZ
36:28
listening to CFTC chairman talk at World Liberty Forum in Mar A
36:34
Lago learned a lot. So CZ confirmed to be, you know,
36:40
at the summer, I think they call it the winter White House.
36:43
It's the winter White House. And yeah, so again, I'm sticking
36:48
to, I'm sticking to my guns. We've been right more often than
36:53
we've been wrong. I truly believe Trump's going to
36:57
make the announcement that the United States has been buying
36:59
Bitcoin. I, I think, I think that
37:01
announcements going to be made. Anyways, here's some of the
37:06
interviews from the conference yesterday.
37:10
Here's one that Michael Saylor reposted.
37:14
Again, Michael Saylor's sending messages.
37:17
These are these are the, these are these are the president's
37:20
kids. OK, here's Michael Saylor
37:24
yesterday on February 18th, 2026, quoting Eric Trump and
37:31
Eric Trump's throwing some crazy numbers out.
37:34
I'm going to play it and then we'll talk about it.
37:37
Let's check out the clip. Well too, you know, and I and I
37:40
know stablecoin is different than Bitcoin, but you, I mean,
37:42
you've been big proponents and bullish on Bitcoin as well.
37:45
We still are. I'm a huge proponent of Bitcoin.
37:47
I do think it hits $1,000,000. I think it's one of the greatest
37:50
performing asset classes. I mean, go back two years,
37:53
Bitcoin was that what, 16,000, you know, where is it at right
37:56
now? 70, right?
37:57
I mean, if you look at the the last 10 years, Bitcoin has gone
38:00
up 70% a year on average year over year for the last decade.
38:04
Name an asset class that has performed better than Bitcoin.
38:06
And now obviously you have lots of volatility.
38:07
If you don't want volatility, you know, go invest in some
38:10
muni, you know, go, go have a great time, go invest in some
38:13
treasury. You're going to have volatility
38:14
with something that has tremendous upside.
38:16
But I've never been more bullish on Bitcoin in my life.
38:19
I've never been more bullish on a cryptocurrency in my life.
38:21
You look at what every one of the big financial institutions
38:24
in the country is doing, whether it be Fidelity, whether it be
38:26
Charles Schwab, whether it be JP Morgan, whether it be BlackRock,
38:29
right. Goldman's here.
38:31
Yeah. I mean, go, go down the list.
38:33
Every single one of them are adopting cryptocurrencies.
38:36
They're willing to treasury cryptocurrencies.
38:39
They're putting their private wealth clients into
38:41
cryptocurrencies. Before, they were telling them
38:43
puts exactly 0 into cryptocurrency.
38:44
Then it was 2%. Now all of a sudden it's five,
38:46
6%. And that number keeps on
38:48
climbing. It is the asset class of this
38:51
generation. It's it's what every person
38:53
under the age of 50 is into and and loves and and we're just
38:58
getting started. We're on the 1 yard line I.
39:01
Do I mean you think you'd think you'd be saying that if he
39:06
didn't know Daddy was going to make a certain announcement?
39:13
Why? Why is CZ hanging out at Mar A
39:16
Lago? Because he got pardon and now
39:19
that's. Part of the deal?
39:20
Why? Why no?
39:22
He already got pardon. Why?
39:23
Yeah. So part part of the deal was now
39:25
do our bidding. No, no.
39:27
Why say? But what?
39:29
How? What benefit is that to them?
39:33
Nuke the price of Bitcoin so we could stack so we agree.
39:36
But that's what I'm saying. OK, OK, so now we're on the same
39:40
page. I I want to know what you guys
39:43
think in the chat. Like are me and Opti just like
39:46
literally retarded? And we're just like not seeing
39:48
oh, drop the R word. Let's go.
39:53
Like are are we like, are we just not seeing things?
39:56
We might have to cut that out. Right, you're cutting it.
40:00
Are we just like, are we like, are, are we just like, are we,
40:04
are we seeing things that are not there, you know?
40:11
I mean, yeah, potentially we're seeing ghost, but I, I agree
40:15
with you. Look, I, I think the, the Trump
40:21
children, we've been making the case that I don't think they're
40:25
just stacking Bitcoin from a private, you know, angle.
40:28
Like it's not just a private companies that are, that are
40:31
buying Bitcoin. I think they are totally trying
40:35
to acquire Bitcoin on the cheap. And he did say something very
40:40
interesting in that clip. Eric Trump said something very
40:42
interesting, which I've said on this show in the past, that what
40:46
we have to remember is it's not so much that Larry Fink is now,
40:52
you know, a bitcoiner per SE. It's not so much that he has
40:57
been to need a Bitcoin, launched a Bitcoin product.
40:59
That isn't necessarily the signal here.
41:03
The signal here is that Larry Fink, as one of the largest
41:06
asset managers in the world, is signaling to all of his clients,
41:09
you need to own this thing because they see the future that
41:13
we see. They see where this is going.
41:16
And So what he's probably doing behind the scenes, obviously
41:19
publicly, he's a little more reserved.
41:22
He's just like, hey, this Bitcoin thing's not going away,
41:25
You know, tokenize all the things type stuff, Wall Street
41:28
shit, coining era. This is where we are.
41:31
But privately, I think the conversations are going more on
41:35
the lines of, hey, this Fiat thing is unsustainable, the debt
41:38
is getting crazy. Who knows how much longer this
41:42
game is going to go on. Who knows how much longer the
41:44
music is going to continue to play in this, you know, monetary
41:49
musical chairs. So you as a high net worth
41:53
individual, if you want to maintain your wealth, you should
41:56
probably own some of this Bitcoin.
41:58
He is literally packing the escape boats for his wealthy
42:02
clients. I think that is the signal going
42:04
on. Eric Trump said this exact same
42:06
thing. This isn't just Larry Fink or
42:09
BlackRock saying this. Now all the banks are saying
42:11
this, which I see people in the chat usually it's like, oh,
42:14
they're already rich. Why do they need Bitcoin?
42:17
You know, they're not trying to get more rich.
42:19
You're not looking at this correctly.
42:21
If you're one of us, an average person, you usually look at
42:25
Bitcoin as, hey, number go up is going to increase my wealth.
42:29
If you are completely intertwined with the Fiat
42:32
system, it's not about necessarily gaining more wealth.
42:35
Obviously that's what the billionaires and and that's what
42:38
the elites want to do. You know, once you get caught up
42:41
in in that addiction of making more wealth, you always want to
42:43
make more wealth, but you also have to preserve your wealth,
42:47
which is kind of the the classic chicken or egg problem that we
42:50
always talk about. Or rather, it's one of the
42:52
biggest critiques of Bitcoiners from people that aren't
42:55
Bitcoiners, like, oh, you can't put all your eggs in one basket,
42:58
bro. You need to diversify your
43:01
portfolio, bro. And I forget who it was.
43:03
It's like Warren Buffet fitter or Charlie Munger.
43:05
One one of them said something on the lines of you concentrate
43:09
your wealth into one basket to gain wealth, to make wealth.
43:14
But once you are already rich and you already have a lot of
43:18
wealth, then you diversify to preserve your wealth.
43:22
So the elites, the the JP Morgan's, the Goldman Sachs, the
43:26
black rocks of the world, they're not necessarily here
43:29
just trying to get games. They're in the preservation of
43:31
wealth game. And if you see if if we can
43:35
understand what's going on in the Fiat system and say, hey,
43:38
look, I don't know how long this is going to go on, but there's a
43:41
problem here and everyone knows there's a problem, then they're
43:45
in the preservation of wealth game.
43:47
That's why they're buying Bitcoin.
43:49
That's why Larry Fink is out here saying, hey, you should
43:51
probably put 5% of your portfolio into Bitcoin publicly.
43:55
Privately, it's probably higher than that.
43:57
But that's the game here. For us.
43:59
It's like, you know, I'm trying to increase my wealth For them,
44:03
it's preservation of wealth. Eric Trump is saying this exact
44:06
same thing. Now.
44:07
You know, my more cynical take here is like, hey, bro, look, I
44:11
love the $1 million Bitcoin calls, but like, tell your dad
44:15
to pump our bags, dog. Like, don't talk to me about it.
44:18
Like tell your dad. I think he is, dude.
44:20
I think he is. I'm asking.
44:22
By the way, I just released a poll in the chat, 43 votes so
44:26
far, I said, is the Bitcoin bottom in it's 5050.
44:29
It's probably not a good sign. No, it's a great sign.
44:32
What do you mean? 'Cause if it's 8021 way, then
44:35
what you got to do the opposite? 5050 means uncertainty.
44:38
No one has any clue. I like that.
44:41
The hope needs to be taken out of the room completely.
44:44
That's when I know that. Dude the chat is fighting each
44:46
other I. Think the hope is gone.
44:48
No, no, no, no. We need we need less hope.
44:51
We need less hope. Dude, there's too much hope
44:54
that's not for someone says 45 K will be the bottom.
44:58
Any who guys cap it's going to be a great show if you guys are
45:04
enjoying it so far make sure to smash that like button we did
45:06
hit 500 live viewers on YouTube so let's.
45:10
Go dude, we're back. So shout out to that, shout out
45:13
to the 50 live viewers on Rumble, and of course, shout out
45:16
to the X audience coming in strong.
45:18
And then shout out to all the zaps we're getting on on Primal.
45:21
Appreciate y'all. Thank you guys so much.
45:24
We really appreciate it. Heart for you guys on Noster.
45:32
Keep going, keep going, just keep it going.
45:35
All right, everybody, we'll be right back.
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48:55
you guys. I want to talk about it.
48:57
Let's check it out. It's Brian Armstrong talking
48:59
about the Clarity Act, which I told you guys, I showed you guys
49:04
yesterday. The probability that the Clarity
49:07
Act will pass went from 72% and it hit an all time high of 90%
49:15
probability that the Clarity Act will pass.
49:19
So I do want to talk about that. I do want to show that.
49:23
Where is it? Here we go.
49:25
Let's check out the clip Brian Armstrong, CEO of Coinbase.
49:29
We're here meeting with crypto companies, bank representatives
49:32
and senators as well to see if we can get to a solution on
49:34
market structure. And one of the big issues that
49:37
did come up in the past was this idea of stable coins on rewards.
49:41
I wouldn't say we blocked it. In fact, nobody, I think in the
49:43
crypto space has been working harder on this over the last few
49:45
years to try to get some legislation.
49:47
What we did say was. The current draft, we had some
49:49
issues with it. I think that caused everyone to
49:51
come back to the table and there's now a path forward where
49:53
we can get a win, win, win outcome here.
49:55
Win for the crypto industry, a win for the banks, and a win for
49:57
the American consumer to get President Trump's crypto agenda
50:02
through to the finish line so we can make America the crypto
50:04
capital of the world. All right, everybody, so I told
50:07
you guys the main hurdle was that rewards situation, right?
50:12
And I told you guys that was the main hurdle is because that
50:15
essentially is competition towards the banks.
50:18
The banks don't offer interest on your deposits if you have a
50:22
checking account, which is atrocious.
50:25
You know, they, they do technically offer you interest,
50:28
but it's like comical. It's like .03 something percent.
50:31
It's like, it's like ridiculous. And then they charge you a
50:33
maintenance fee. So you end up paying more just
50:35
to have your money in a checking account rather than the bank
50:39
actually paying you for having your money in the account.
50:43
Now the reason that banks feel so threatened about these like
50:47
neo banks and these exchanges like Coinbase is basically what
50:52
they start doing instead of offering interest directly.
50:54
They can't really call interest. They're they're starting to
50:56
offer rewards, right? So you can have your Bitcoin or
51:01
your whatever altcoin and Coinbase or whatever and they'll
51:04
reward you for it, which it, it in, in its mechanism.
51:09
It's functioning a lot like interest, right?
51:11
Like if you boil it down and, and you, you break it down to,
51:15
you know, the, the basics of it, that's essentially what it's
51:18
doing. Now, all of that being said, a
51:24
couple things he said in that video as well that I want to
51:27
talk about. He did mention about the
51:29
importance of passing Presidents Trump a crypto agenda.
51:35
That's incredibly important. I think it's a positive thing.
51:40
Again, I, I, I don't know the nuances of the bill, but I would
51:43
say it's more of a pro than a con.
51:46
And I'll tell you why. There's an more than 80%
51:52
probability that Trump, deservingly so, unfortunately,
51:59
like, 'cause I love Trump and I, I love the party that, you know,
52:03
we elected into office and I was so bullish on it.
52:06
I was part of one of the inauguration Bitcoin live
52:10
streams. Like we were all about this
52:12
stuff. Like we were all over it.
52:13
We were really hyped. We were very excited.
52:16
But I'll be honest with you, it was a little bit of a let down.
52:19
It's just a little bit of a let down.
52:21
Like it wasn't exactly what we had in mind.
52:26
Yeah, I, I think it was focusing a lot on, on foreign policy
52:32
rather than the problems at home.
52:34
And, you know, here we are almost two years later.
52:39
And, you know, if you look at the Poly market odds and the the
52:43
the elections that have happened so far, it looks like the
52:47
Republicans are going to get smoked minimum.
52:50
They lose the House, they might lose the Senate now, which is
52:53
crazy, right. So the reason I'm saying all of
52:56
this is because the only chance that they have at passing this
53:04
is right now, and I'm really happy to say that the Poly
53:09
market odds had it and it has quite a bit of volume.
53:12
It has more than $90,000 worth of volume.
53:16
On February 18th at 3:50 PM, it went all the way up to 90%.
53:22
Currently it's at 82% chance that the Clarity Act does get
53:28
signed into law. From my understanding, the
53:31
Clarity Act does have the protection of self custody.
53:36
It provides framework for the entire industry.
53:39
This isn't just the stablecoin bill that was passed the Genius
53:42
Act. This is a broader Bitcoin slash
53:45
crypto bill, which would be good.
53:49
It would provide clarity, regulatory clarity for a lot of
53:52
institutions. I think this is the type of
53:54
thing that if it does get signed and into law, I think we might
53:56
actually see positive price action, right?
54:00
Because it is it is kind of a big deal.
54:02
But again, the window is closing.
54:05
They really only have until November to pass this.
54:08
If they wait for after that, then there's a high likelihood
54:11
it doesn't get passed. So this is awesome.
54:14
Like this is good that it's happening.
54:17
So I want to get your thoughts on this Opti, you know, you know
54:20
how negative I felt about it. I wasn't feeling too bullish
54:23
about this at all. I want to get your thoughts.
54:27
Yeah, well, the Poly market odds are are very interesting.
54:32
It is I, I think the timing is very interesting.
54:35
And like everyone's saying, you know what does someone know?
54:38
Someone's got to know something going on maybe again, maybe this
54:42
is insider trading on the Poly market odds and something came
54:45
out of the World Liberty. What's it for?
54:48
World Liberty Finance Forum that made someone extremely bullish
54:52
and you know they they put some money behind it.
54:55
So you know, seeing the the Poly odds markets or the the what do
55:00
you call them again, the betting odds go up.
55:04
It is very interesting usually, you know, with, with a lot of
55:07
liquidity, they, they do seemingly, you know, have the
55:11
right idea because again, as the saying goes, you know, put your
55:14
money where the mouth where your mouth is or wait, Yeah, that's
55:17
the one. And so it is interesting to see
55:19
the, the, the betting odds go up like this.
55:22
I'm still, I, I don't know, I, I'm still kind of like hesitant
55:27
about it. But it is interesting that we
55:31
saw Brian Armstrong talk about this.
55:34
Of course, CFTC was at the World Liberty Finance forum yesterday.
55:38
I'm guessing they talked about this behind the scenes.
55:41
I didn't really see anything come out of it really on the
55:43
mainstage. So hey, look, I think what I've
55:49
just what, what my vibe has been is just the, the clock is
55:53
ticking. And when we see these kind of
55:57
rhetorical, you know, statements, these PR presses
56:00
come out here and they're like, you know, we're working on it.
56:04
We're coming back to the table. It's going to happen soon.
56:08
It's like we've seen this before.
56:09
They, they've been saying that since the end of last year.
56:13
And now it's like maybe in a month or two we'll have it
56:17
again. Like we're saying, I, I, I think
56:20
if this doesn't get passed before summer, I don't think
56:24
it's going to get past because they're going to pivot the
56:27
machine from actually doing things to now we are, you know,
56:32
getting caught up in the midterm circus.
56:34
So if it's going to happen, hopefully these betting odds
56:38
are, are a, you know, precursor of them happening soon.
56:42
But if it doesn't happen soon, then it's probably not going to
56:45
happen. It's kind of my my view of this
56:47
so. I agree.
56:50
I agree, but I mean the betting, the betting odds have been quite
56:53
accurate so far. So I am, I am, I am optimistic.
56:58
I am optimistic. Damn bro, the chat's going wild
57:03
and out. Wild and out.
57:07
Opti, you got a request bro? No, I don't even know what it
57:12
is. You can scroll up and read it.
57:16
All right, everybody, we're going to be right back just a
57:17
bit. We're going to we're going to
57:19
take a look at the culture. I actually, all right, look, I
57:22
actually added one more button. He's going to do something.
57:25
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Digitaltech.com. Whoa.
58:12
What's going on here? All right guys, I really like
58:15
this thread and I'm I'm going to follow it up with some
58:18
interesting numbers that I saw on Twitter.
58:21
This is oh what what happened? Whoa, wrong one.
58:26
Sorry, Zen. I really like this guy, Zen
58:30
Zinx, Zinx, BTC and I, and I think this sums up a lot of the
58:35
stuff that I've been saying. I think it's a little more
58:37
eloquent than me just rambling on the show, but I I've
58:40
literally said this multiple times on the show.
58:43
So just to kind of, you know, set the frame here he goes.
58:48
I think it's safe to say that Bitcoin still struggles in
58:50
periods of macro uncertainty, which is obviously we've been
58:53
seeing that we we've actually been covering it for months at
58:56
this point. There has been a lot of macro
58:59
uncertainty And further, we are now currently in in some more
59:03
macro uncertainty with potential war happening in the Middle
59:06
East. Like we, we're in the midst of
59:08
all kinds of uncertainty on a macro geopolitical level.
59:11
And obviously Bitcoin being, you know, 24/7, the most saleable,
59:16
most liquid asset and still perceived as a risk on asset,
59:22
that's what usually sells first. Bitcoin has this tendency of
59:26
smelling out, you know, geopolitical macro kind of
59:30
scenarios and people sell it off first.
59:32
Now this is kind of what I've been saying Again, I like how he
59:36
put it in in this tweet. And because it's 2 nation for it
59:38
to function as a universal flight to safety asset, only
59:42
high conviction holders treated that way today, which is what I
59:44
tell you guys all the time. This is what we always talk
59:47
about here, that to us, Bitcoin is the risk off asset, you know,
59:51
neutral, neutral money with no CEO, no one, no one controlling
59:56
it. You know, from like a top down
59:58
level, there's no CEO. Again, you know, the devs don't
1:00:01
have as much control as everyone likes to say they're they do.
1:00:04
Like, yes, maybe the miners have some semblance of control, but
1:00:07
it's really controlled by the users of Bitcoin.
1:00:10
We all make up what Bitcoin is when we run our nodes, when we
1:00:13
transact on Bitcoin. And for most people, especially
1:00:16
now that Wall Street's coming into it.
1:00:19
They're not looking at Bitcoin like we look at it.
1:00:20
They're not looking at it, you know, reserve truly neutral
1:00:24
money that no one is in in control of.
1:00:26
They they still believe in the in the lie of Fiat money.
1:00:29
That money has to be controlled by governments.
1:00:31
So we are still in the minority here.
1:00:34
No one outside of our echo chamber thinks of Bitcoin like
1:00:37
we do anyways. For most capital, the default
1:00:40
obviously still remains gold, hence why we saw it rise last
1:00:43
year. In the face of all this macro
1:00:45
uncertainty and defensive equities, you know, Dow's at
1:00:49
50,000. Do I need to say more?
1:00:52
Anyway, until Bitcoin is widely recognized as neutral, scarce
1:00:55
money, it will remain volatile in times of uncertainty.
1:00:58
This is where we are guys. This is this is just a
1:01:01
pragmatic, you know, reality of the situation.
1:01:04
This is where we are. Yes, we have some ideologies
1:01:07
where we think Bitcoin is going what we think Bitcoin is, but
1:01:11
the reality is it's still too small and no one recognizes
1:01:15
Bitcoin as a neutral scarce money yet.
1:01:17
But of course, you know the take away, the bullish take away.
1:01:20
It's not to worry though. We stay the course, continue
1:01:22
stacking. Ultimately volatility is the
1:01:24
price of asymmetric returns. That's kind of like the where
1:01:29
I'm I'm at right now. This is what this is what I'm
1:01:31
seeing now to, you know, put this into the context of where
1:01:37
we currently are and just how asleep people are at the wheel.
1:01:41
Check out this tweet by Kobayashi letter.
1:01:44
They go breaking. The 60 plus day delinquency rate
1:01:48
on US subprime auto loans is up to a record 6.9%.
1:01:52
Serious delinquency rates have more than doubled since 2021.
1:01:57
Hence, I've been telling you guys like, look the official
1:02:00
economic numbers, or at least the official rhetoric, the
1:02:03
official party line for the Trump administration as the
1:02:05
economy is doing better than ever.
1:02:07
You know, everyone's richer, yadda, yadda, yadda.
1:02:10
When you look at the numbers, you know, inflation's down.
1:02:12
When you when you not just look at the numbers, but when you,
1:02:16
you know, heuristically talk to people, most people are
1:02:20
struggling right now. And now we're seeing that, you
1:02:22
know, delinquency double since, you know, four or five years
1:02:26
from now or from the past. And this exceeds the 19-6 or
1:02:30
1996 peak by .9 percentage points.
1:02:33
For context, the 2008 financial crisis was 5%.
1:02:38
Meanwhile, total auto debt is up plus three $312 billion over the
1:02:44
last five years to a record 1.67 trillion, driven by surging
1:02:47
vehicle prices. Subprime financing makes up
1:02:50
roughly 14% or 234 billion of all auto loans.
1:02:53
Americans are falling behind on their car debt at a record pace,
1:02:57
as well as the numbers we've covered on the show before that
1:03:01
credit card debt is at the highest level it's ever been.
1:03:03
You know, housing prices are at the most unaffordable level that
1:03:08
they've ever been. And so you're, you're starting
1:03:11
to see that these signs are showing that, hey, people are
1:03:14
feeling pain. And one of my thesis is always
1:03:18
the same. You know, humans are driven by
1:03:20
either the, the fear of loss or, you know, the pursuit of
1:03:24
pleasure of gaining something. And for a while we've been all
1:03:27
hopped up on the dopamine of like, hey, we can all get rich.
1:03:30
We can all go to the casino, you know, gambling, FanDuel type
1:03:34
stuff, gambling on the bread and circuses, Poly market odds.
1:03:37
You know, America's been turned into a casino at this point.
1:03:41
And people are literally losing their house right now pretty
1:03:44
much Anyways, going further, this is an interesting metric as
1:03:48
well. Kind of some more context on
1:03:50
this because 1.7 million cars were repossessed in 2009 during
1:03:54
the great financial crisis, and three million cars were
1:03:57
repossessed in 2025. The average new car is $748 a
1:04:01
month. 78% of Americans compute you commute using their cars.
1:04:05
Subprime delinquency rates are 6.9%.
1:04:07
Subprime makes up roughly 4% of all auto loans.
1:04:10
The crisis is here. Now.
1:04:12
How am I connecting the dots here?
1:04:14
Is is basically back to the zinc's tweet.
1:04:17
It's like until people realize that they need a neutral, scarce
1:04:22
money, until people realize that there might be a financial
1:04:26
crisis and we're living right through it.
1:04:28
Remember, they literally changed the definition of a recession.
1:04:32
Until people actually realize where the economy is, that we
1:04:36
might be in a recession, might be in a depression scenario.
1:04:39
You think we're in a recession? I think we've been.
1:04:42
In a recession, right? I mean, if you look what it was,
1:04:47
I think it was Sailor who said this.
1:04:49
Like if you look at any like any Fortune 500 company outside the
1:04:54
Mag 7, they're not doing so odd. Yeah, it's like the official
1:05:04
narrative, the official, you know, party line right now is
1:05:07
the economy is doing better than ever.
1:05:10
When you look at data that isn't coming out from the government,
1:05:16
it's painting a different picture.
1:05:17
It's like people people are, you know, racking up credit card
1:05:20
debt. People are defaulting on their
1:05:22
loans. I mean, the numbers are
1:05:25
literally bigger than it was during the great financial
1:05:27
crisis. And like, you're telling me that
1:05:29
we're not in a recession? It's like the numbers are
1:05:31
bigger. Obviously now inflation has
1:05:34
gotten crazy compared to 2008, 2009.
1:05:38
So that could be part of the, you know, the numbers really
1:05:41
confusing us, but it still doesn't really make you feel
1:05:46
good of like, Oh no, we're actually doing a lot better than
1:05:49
we are. And it's like people, I don't
1:05:51
think I, I think they're really sleepwalking right now and they
1:05:54
don't realize how bad of a scenario things are because as
1:05:58
we've kind of been talking about in social media right now, you
1:06:01
know, I don't know, I don't know what happened guys.
1:06:07
It's really difficult, I think for most people to find the
1:06:12
signal through the noise. And as we've been saying
1:06:14
forever, it's like, guys, the signal has always been the same
1:06:17
like you need to own Bitcoin that like opt out of the Fiat
1:06:21
system. And now when more people are
1:06:22
starting to feel the pain, obviously it's, it's a 2 sided
1:06:25
coin. If people are feeling the pain,
1:06:27
they're obviously looking for an escape or a fix.
1:06:30
But at the same time, and most people don't have money and
1:06:34
that's kind of I think where we are.
1:06:36
And then further add on top of that, most people that did have
1:06:39
work quote UN quote crypto curious, they got burnt in 2021
1:06:43
by shit coins. And now they're like, I'm
1:06:45
staying away from this. You know, the saying all these
1:06:48
names about Bitcoin, whatever they want to say.
1:06:50
And really what's the saying? You can lead a horse to a water,
1:06:55
but you can't make a drink? That's true.
1:06:57
And here we are like all the signs are showing me like, man,
1:07:00
things are really bad, but the official narrative is just like,
1:07:03
keep it going. We're good to go, dude.
1:07:05
Like this is what I've, I've said this for years now.
1:07:08
It's like the people that are responsible for regulating
1:07:11
Bitcoin and the people that are responsible for the economy and
1:07:15
like all this stuff are also the people that are in charge that
1:07:19
could that could manipulate the numbers and the data and the
1:07:22
statistics. Like like talk about like it's
1:07:25
like, oh, we don't want to look good.
1:07:26
We're just going to change the data to make ourselves look bad.
1:07:30
The the swan to look good, they don't want to look bad.
1:07:33
Yeah, yeah. So they just keep moving the
1:07:34
goal posts, you know, depending on, you know, how it makes them
1:07:38
look like. Do you remember these are like
1:07:40
the fun old days of the show? Do you remember during the.
1:07:43
You know what, Maybe there is a silver lining if the Democrats
1:07:47
take back the House because we're going to talk.
1:07:48
We're going to have a lot of shit to talk.
1:07:50
About Honestly, you want another silver lining here?
1:07:52
The silver lining is if the Dems do, you know, take back the
1:07:56
House and they get a Democrat president, they're going to
1:08:00
attack Bitcoin price is going to go up and then further people
1:08:05
are going to stop believing in politics because they don't like
1:08:07
the Democrats. And bro, now we can really get
1:08:09
some change here, guys. Now we can really do what we
1:08:12
want here because everyone's cooked and they have no faith in
1:08:15
the system. Oh man, this is this.
1:08:17
Is my thesis. This is the thesis on like Max
1:08:20
acceleration mode right now. I am, I am a, a reactionary, I'm
1:08:25
a real, I'm a pragmatic realist here.
1:08:28
And I'm like, look, we are accelerating.
1:08:31
I I'm just acknowledging the acceleration.
1:08:33
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the year. You're not going to want to miss
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it. We hope to see you guys there
1:09:32
again. Bitcoin 2026 Las Vegas NV promo
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code simply to get 10% off your tickets.
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We hope to see you guys in Las Vegas all right everybody that
1:09:44
was today's show. If you guys enjoyed today's
1:09:46
show, make sure to smash that like button Opti.
1:09:50
We should we should make it look epic.
1:09:52
You should do the slow, the slow fade into the wide shot, and
1:09:56
then we should just pretend to have a conversation.
1:09:59
OK, wait, wait, wait. Hold on the slow fade into the
1:10:03
line so we're. Talking it's like all right guys
1:10:05
we'll see you tomorrow for brand new episode of simply Bitcoin
1:10:08
and then. Today's episode was brought to
1:10:15
you. Today's episode was brought to
1:10:17
you by bitcoinwell.com, a Bitcoin only platform on a
1:10:20
mission to enable financial