Latest / Simply Bitcoin / FORGET JANE ST: We Found What's Suppressing Bitcoin's Price... | EP 1452

Transcript

FORGET JANE ST: We Found What's Suppressing Bitcoin's Price... | EP 1452 · Simply Bitcoin

0:01
The second largest Bitcoin treasury company just quietly
0:05
changed their strategy, allowing them to sell some Bitcoin, and
0:09
they hold over 50,000 Bitcoin. But the shocking thing about
0:13
this story is they're not the only huge company selling their
0:17
Bitcoin, and until now we've all blamed James Street or Wall
0:22
Street for suppressing Bitcoin's price.
0:24
But what if there's a simpler explanation for Bitcoin's price
0:27
decline? And what is going to happen now
0:30
that Jane St's been exposed? Guys, let's let's just look at
0:34
the facts here. Since the Jane Street court case
0:39
and everyone blamed Jane St. the 10 AM dump has been off the
0:42
table. Very surprising yesterday
0:45
considering what happened over the weekend, a war in Iran.
0:49
Everyone was expecting Bitcoin to dump.
0:52
In fact, if you're looking at the markets today, trillions of
0:56
dollars have been wiped out of stocks literally in the first
0:59
hour. Gold is retracing.
1:00
Silver's retracing. Yes, Bitcoin had a pullback, but
1:04
it's it's holding up very strong, surprisingly holding up
1:08
very strong. Anyways, anyways, that's just a
1:10
little context for everything going on in the global markets
1:13
right now. Let's jump into this story.
1:15
So the first story, and I think this made a lot of waves for a
1:19
lot of people because as we've been talking about on this shelf
1:22
for a while, it does almost seem like the hype cycle in the
1:28
Bitcoin treasury companies is starting to die down.
1:31
And there is some worrying data points coming out of the Bitcoin
1:36
treasury companies. A lot of these Bitcoin treasury
1:39
companies have been saying, hey, we're never going to sell any
1:42
Bitcoin. Turns out we are seeing some
1:45
selling. Now, this isn't Mara selling
1:49
Bitcoin, but this change of them saying, hey, we will potentially
1:53
sell some Bitcoin. It's not the it's it probably
1:57
isn't the best narrative for the Bitcoin treasury companies,
2:00
especially since Mara is literally the second biggest
2:04
Bitcoin treasury company in the world.
2:06
Now here's coming from the block.
2:08
I do have a clarification from Mara themselves, but let's start
2:11
with the initial news story. So headline from block, Mara
2:14
opens door to selling stockpiled Bitcoin in new policy shift,
2:18
which is a huge move away from what they've done in the past.
2:21
They have been very big. You know, Mara, one of the
2:23
biggest Bitcoin mining companies, they've been saying,
2:27
hey, we're going to huddle all of our Bitcoin.
2:29
They might sell some of their mine Bitcoin, but their Bitcoin
2:32
balance sheet up until yesterday, or rather up until we
2:36
found out yesterday, they said we're never going to sell any of
2:39
that Bitcoin. Now they are changing the
2:42
verbiage on this. They are kind of changing their
2:44
tune a little bit. And I think a lot of Bitcoiners
2:46
are like, oh man, here we go. They're going to start dumping
2:49
on us. I think there there is a little
2:51
nuance in in what they wrote and I will cover that after this
2:55
block article. So just quick take.
2:57
Mara said it's revised its digital asset management
2:59
strategy for 2026 to permit sales of Bitcoin held on its
3:03
balance sheet again, the Bitcoin treasury, they said they they're
3:07
potentially, you know, got some plans to at least allow us to
3:10
sell some Bitcoin expanding beyond the 2025 policy that only
3:14
allowed sales from mining production, of course.
3:17
The company holds 53,822 Bitcoin worth 4.7 billion as of December
3:23
31st 2025, including a 9377 Bitcoin loan and 5938 Bitcoin
3:30
pledged against $350 million in outstanding credit facilities.
3:34
Now I think the reason this this is making people a little uneasy
3:39
is the thought of them dumping $4.7 billion or $4 billion on
3:44
the market in one go. Now they're not saying that that
3:48
is going to happen, but that is what the rumor mill, that's what
3:51
the engagement bait is saying on Twitter.
3:53
It's this idea of like if they had to sell their 53,000 Bitcoin
3:58
in one chunk because again, it's usually if there's, if there's
4:02
worrying signs, you know the saying if there's smoke, there
4:04
might be fire. Now I am, I'm personally, I'm
4:06
not in that camp thinking that that is what's going on.
4:10
I think this this might be a good financial decision for them
4:14
to have a little more financial flexibility.
4:16
But let's go into this. So of course they did a 10K
4:19
filing with the SEC and this was the biggest kind of news that
4:24
came out of this is obviously their policy revision and a
4:28
departure, as this article says, from the company's historical
4:31
approach of holding mine Bitcoin as long term investment.
4:34
And of course this does although 2025 where the price didn't
4:38
really do as much as we thought it was going to do.
4:41
And therefore as we are have been seeing in the Bitcoin
4:45
mining space, the the margins are getting tight right now for
4:49
public Bitcoin miners. Now I will kind of, you know,
4:53
give give my take on this after I cover this, but it is getting
4:57
a little tough right now for Bitcoin miners.
4:59
Obviously the hash rate has been going up.
5:02
The Bitcoin price has been going down.
5:04
Yes, we saw the storm last year have a lot of hash rate go off
5:08
the network, but now it's recently came back on.
5:11
So the competition is is back in force and especially if the
5:15
price stays where it is for a while or even goes way lower, we
5:19
could potentially see some of these big corporate treasures or
5:23
Bitcoin mining balance sheets having to sell a lot of Bitcoin.
5:27
And in fact, we have saw that happen.
5:29
So let me cover this quote here and then I'll show you where all
5:32
the selling has come from. And the big idea here it's, it's
5:37
a very simple idea and our boy Check Matey has been saying it.
5:42
It's not that there's necessarily price suppression
5:44
happening, it's just there's a lot of Bitcoin being sold.
5:47
We've been covering this all of last year.
5:49
Obviously, as new narratives and new news stories and headlines
5:52
come out, everyone always pinpoints or tries to blame a
5:56
certain boogeyman. But in reality, it's probably
5:59
just simple supply demand dynamics.
6:03
There's just a lot of Bitcoin being sold currently and that's
6:06
probably what is depressing the Bitcoin price headed with all
6:10
the macro and geopolitical uncertainty and chaos that we're
6:14
seeing. It it it is a simpler case here
6:17
and obviously first principles, heuristics, we always try to at
6:22
the very least get to the simplest explanation.
6:25
I think what is Occam's razor? You know, the simplest
6:27
explanation's probably the best here and it seems like we are
6:31
just continuously seeing a lot of Bitcoin being sold.
6:33
But this quote here is pretty interesting.
6:36
It goes quote, in the second-half of 2025, we changed
6:39
our our digital asset management strategy to permit sales of
6:42
Bitcoin generated from operations and in 2026 we
6:45
expanded the strategy to allow for sales of Bitcoin held on our
6:48
balance sheet. Accordingly, we may hold Bitcoin
6:51
for long term investment purposes and may also buy or
6:54
sell Bitcoin from time to time subject to market conditions and
6:58
our capital allocation priorities.
7:01
Now, they did follow this up and essentially said, hey, this is
7:06
fake news. Here's Robert Samuels, vice
7:09
president of investor relations at Mara.
7:11
And he goes, this assertion that Mara has changed its strategy to
7:14
sell the majority of our Bitcoin holdings.
7:16
Is it factually incorrect? Again, that's what people were
7:19
saying on Twitter. It's like, oh man, the second
7:21
biggest Bitcoin treasury company is going to dump 50,000 plus
7:25
coins on the market around $4 billion.
7:28
What's that going to do to the Bitcoin price?
7:31
You know it, it wouldn't be, it wouldn't be a good sight, just
7:34
to say the least. Anyways, our 202610K clearly
7:37
states we expanded our strategy to allow for sales of Bitcoin
7:41
held on our balance sheet, meaning we may buy or sell from
7:43
time to time, again subject to market conditions and our
7:46
capital allocation priorities. But in bold, it does not mean we
7:50
intend to liquidate the majority of our reserves.
7:54
Allowing for sales for strategic purposes is entirely different
7:57
from a policy of selling down a majority of our Bitcoin
8:00
treasury. Please conflate the two.
8:02
And then further there was another tweet where he said and
8:07
that is right here he goes. As stated on Mara's earning
8:10
calls in 2026, we expect to continue to monetize Bitcoin
8:14
opportunistically to enhance our financial flexibility, including
8:18
to provide liquidity or to fund capital projects and other
8:21
initiatives that we believe enhance long term shareholder
8:24
value subject to market conditions in our capital
8:28
allocation priorities. Expanded optionality in
8:31
apparently adds value. So there is this idea.
8:35
Second biggest Bitcoin treasury company is going to liquidate
8:38
their 53,000 Bitcoin. That's going to be the final
8:41
capitulation to get to you know as Nico has been saying the 40K
8:45
range. If we did see that, that would
8:48
totally get us down to that range, most likely not
8:52
necessarily because of the 4 billion in liquidity, but
8:55
because of the panic that ensues afterwards.
8:57
And you know, cascading liquidations and just the drop
9:00
it, it'll just compound on each other.
9:02
But you're probably asking, OK, well, where did all the Bitcoin
9:06
get sold from? And that's where it does get a
9:08
little interesting. Here is an article from Coinbase
9:12
or sorry, coin desk and it goes end of Bitcoin huddle.
9:16
Public miners going all in on AI signaling more Bitcoin selling.
9:21
Public Bitcoin miner balance sheets are shifting its capital
9:24
rotates from Bitcoin treasuries to AI infrastructure.
9:29
So the short of it is we've seen many of the top ten public
9:34
Bitcoin miners sell over 15,000 Bitcoin to shift into AI
9:39
infrastructure. 15,000 Bitcoin is a pretty penny.
9:44
It's about a billion dollars at at today's price point.
9:46
And you know, a roughly around a billion dollars have been sold.
9:50
And with Bitcoin nearly down 50% off all time high, they're
9:54
shifting from, you know, Bitcoin public mining to AI.
9:59
As we've seen in the last couple of weeks, there has been a huge
10:03
drop in price since the end of 2025.
10:06
And everyone's trying to pinpoint and figure out who's
10:09
the big boogeyman, who, who to, who's to blame right now.
10:12
It always just goes back to the simple supply demand dynamics.
10:15
There's just a lot of selling, there's a lot of coins being
10:18
sold. And This is why the price is
10:20
dumping currently. Of course, this isn't a new
10:23
trend. We have heard for months with
10:26
this idea of a lot of public Bitcoin mining's miners, sorry,
10:30
needing to, you know, add shareholder value.
10:34
And since the margins in Bitcoin mining are getting tougher, we
10:39
are seeing a lot of public Bitcoin miners shift into the AI
10:42
space. Could be a little too little too
10:45
late for a lot of these, but you're seeing that the Bitcoin
10:48
mining is one of the most competitive spaces, one of the
10:51
most competitive industries period.
10:53
The margins aren't that big, so you can't really blame these
10:56
companies, but the fact we're seeing this much selling for AI,
11:00
especially when bitcoins dropping, this is most likely
11:04
where the quote UN quote price suppression is coming from.
11:07
It's really just simple. There's more Bitcoin being sold
11:10
than bought currently and our boy check matey, he's been
11:14
saying this for a while. Look, we get caught up in the
11:16
hot headlines. We all want to point out a big
11:19
bad boogeyman though the fact that ever since Jane St. did get
11:24
that court case or did get sued for market manipulation, it is
11:27
very interesting that we haven't seen any yet.
11:30
And again, we're seeing the war in Iran start and bitcoins been
11:34
positive since the start of the war.
11:37
It's actually outperforming gold right now.
11:39
Gold's around like 16%. But Bitcoin in the face of all
11:43
the geopolitical macro uncertainties right now,
11:45
Bitcoins holding up extremely well.
11:48
I I was very surprised yesterday to see Bitcoin not tank on the
11:53
news of the Iran war on the markets opening up and today
11:58
everyone thought yesterday was going to be a bloody Monday, but
12:00
today, bloody Tuesday, today we're seeing trillions of
12:03
dollars wiped out of stocks of gold, silver.
12:07
It's a it's a pretty bloody day out there and Bitcoin, you know,
12:10
it's it's not really that crazy this morning.
12:14
But anyways, before I pass it over to Nico and we chat about
12:16
this, here's check matey. This was the end of February and
12:19
he goes James St. didn't suppress Bitcoin's price folks.
12:22
Hodler's did. It's just not that hard.
12:25
Stop summoning your inner salty gold bug.
12:28
But by blaming manipulators, people sold a F ton of spot
12:33
Bitcoin. And.
12:36
Here's a chart. You're seeing revised supply
12:38
breakdown by age. We've seen a lot of Bitcoin sold
12:42
since the October 10th dump. This is still a lot of Bitcoin
12:47
even for, you know, bear market terms like this is a lot of
12:51
Bitcoin that's been sold on the market.
12:53
And in the face of all of this, Bitcoin is still holding up
12:57
pretty good. I know yesterday you guys were
13:00
kind of right. I'll give you that.
13:02
The chat said that this was the suckers rally.
13:05
I don't necessarily think it's over per SE, but Bitcoin I think
13:09
is, is very resilient right now in the face of everything going
13:13
on. I, I'm actually very surprised
13:16
by how Bitcoin has reacted with all of the different news, with
13:20
the amount of selling we've seen, the fact we're still in
13:23
this 60K range, I believe it's around 67 K right now.
13:27
Bitcoins holding up incredibly well.
13:30
And, and you could argue maybe the different narratives of the,
13:33
you know what, what was it in the past, gold repricing or gold
13:36
rebalancing into Bitcoin? I don't know if that's exactly
13:39
what's going on, but we are seeing gold retrace.
13:43
Gold's not looking very good right now.
13:44
It's looking a little toppy. Silver had a huge dump this
13:48
morning and Bitcoin just, you know, had like a very normal
13:52
correction this morning. It it, it, it does look like
13:56
maybe the narrative of Bitcoin being that neutral, sovereign
14:01
money that no one controls. I'm not saying it.
14:04
It's playing out exactly as we all believe it will.
14:08
But in the face of what is happening in the world right
14:11
now, I think Bitcoin is, it's very interesting for a lot of
14:14
people because it's not reacting how a lot of the pundits and
14:18
analysts thought it was. Bitcoin's just kind of doing its
14:21
own thing. It almost goes back to what
14:22
we've always been saying, you know, Bitcoin just does its own
14:25
thing. It doesn't matter what's really
14:27
going on in the world. The only thing that really
14:29
matters is, are people buying and selling spot Bitcoin.
14:33
And even though we're seeing a lot of Bitcoin being sold,
14:36
you're seeing a lot of Bitcoin being bought because the price
14:38
isn't moving as we all thought it would be.
14:40
You'd expect Bitcoin selling off in this macro geopolitical
14:46
uncertainty, in this war. You'd expect there'd be people
14:49
panicking selling Bitcoin first because it is so liquid.
14:53
Doesn't necessarily seem like that's the case right now
14:55
anyways, Nico, we have been talking about the Bitcoin
14:59
treasury cycle. Is this more stress in the
15:03
narrative of the Bitcoin treasury cycle or is this just a
15:06
smart move by Mara? And and of course, the
15:09
engagement bait is catching on and now everyone's just kind of
15:12
adding to the FUD. Maybe we are simply FUD right
15:15
now because we continue to cover this stuff.
15:17
And I even had a friend, one of our one of our close friends,
15:20
like bro, you got to stop this you.
15:23
Got to stop this. I mean, I'm going to, I'm, I
15:25
called it, I'm going to get myself another pat on the back.
15:28
I've been telling you guys since October that part of the
15:32
capitulation that you were going to see this cycle, you're going
15:36
to see major Bitcoin treasury companies.
15:39
I I wouldn't even really consider Mara being a Bitcoin
15:43
treasury company, Yeah. But they do have the second.
15:45
Biggest Bitcoin treasury, but they but they do function as a
15:48
Bitcoin treasury and I told you guys, I've been telling you guys
15:52
this since October and I've been getting a lot of heat in the
15:54
chat on the Rumble chat, on the YouTube chat, on the X chat.
15:57
Nico's a bear. That's that's the general thing.
16:00
Nico's true. Though Nico's a bear.
16:02
Nico does this. Nico does that.
16:04
Like that is what you guys keep telling me.
16:07
And I told you guys that last year was paper Bitcoin summer.
16:11
It was the this cycle was the cycle of Bitcoin treasury
16:15
companies, for better or for worse.
16:17
That's where all the alpha was strategy from the bottom of the
16:21
bear market was that like 15 dollars, $20?
16:24
It went all the way up to like 500.
16:27
Excuse me. The return was crazy.
16:30
And I told you guys that once the bear was starting to
16:33
commence, I told you guys that my prediction was that a lot of
16:38
these treasury companies, especially not the top tier ones
16:43
like strategy or 21 or you know, any of the of, of the big ones,
16:50
they were going to get to a point where they were going to
16:54
be, they were going to be forced to sell their Bitcoin.
16:58
Now, what's happening in the Bitcoin mining space is quite
17:02
interesting. A lot of these Bitcoin miners
17:05
with the adoption of AI are actually pivoting a lot of their
17:09
businesses, or maybe not pivoting is the correct word,
17:11
but they're expanding their businesses to service those AI
17:17
needs. So a lot of them are getting
17:18
into a IHBC, which requires A tremendous amount of energy and
17:24
it's a little bit more sophisticated than just
17:26
traditional Bitcoin mining, right?
17:28
So, you know, and again, that all comes down to profitability,
17:33
right? Like that's really what it comes
17:35
down to. Like if they, if they feel that
17:38
they can use that infrastructure that they built out to make more
17:42
money with a IHBC, that's exactly what they're going to
17:45
do, right? So, you know, it's, does it
17:49
surprise me that Mara sold 50,000 Bitcoin?
17:53
No, not only does it surprise me, not only does it not
17:56
surprise me, I've been telling you exactly this was going to
18:00
happen since October, since the beginning of the Bitcoin bear
18:04
market. I haven't seen a capitulation
18:07
yet. I haven't seen it.
18:09
I haven't seen this area where basically people lose complete
18:13
faith in Bitcoin and and you're starting to feel the the
18:18
feelings of that this cycle. You're starting to hear the
18:22
inklings of like Bitcoin is boring, I can get better return
18:25
somewhere else. You know, all the Ogs are
18:28
selling like you're you're starting to heal the hear those
18:31
narratives pop up, but you haven't really felt this full
18:35
capitulation like we we did have that big drop.
18:39
You know, we're down 50% already, but that that true
18:43
capitulation. I haven't really seen it yet.
18:46
Now, I keep hearing from friends of mine, Opti included, and
18:51
other people on the simply Bitcoin team, that hey, that
18:54
this cycle is different. You know, we're not going to see
18:57
a capitulation like we've seen in previous cycles.
19:01
And the reason for that is because the institutions are
19:05
here. Like that's the official
19:07
narrative. Well, the institutions
19:08
themselves are capitulating. Ladies and gentlemen, the
19:11
institutions themselves are are, you know, selling some of the
19:15
Bitcoin. And then again, it's not only
19:17
Mara, Mara, which is huge by the way, you had SEC ones also sell
19:22
some Bitcoin as well, right? And they're, it's not like
19:24
they're selling some Bitcoin at the top.
19:26
They're selling Bitcoin when it's 50% down from the peak,
19:31
right? That's not a good sign of
19:34
confidence. But again, this is a good thing.
19:38
This is how nature heals. This is how the market resets.
19:42
All of this is good ultimately long term for the price of
19:46
Bitcoin because eventually we will find the bottom and then
19:50
eventually the cycle will start to repeat itself.
19:53
And that's where things start to get exciting again.
19:57
I don't know when that is. I have my personal feelings.
20:00
I've been telling you guys about my personal thoughts on that
20:03
matter. But you know, this is Bitcoin.
20:06
You know, Bitcoin always recover.
20:07
This is as absolute scarcity. It's, you know, it's 21 million.
20:13
The characteristics are Bitcoin of Bitcoin are superior to
20:16
anything else than any other asset.
20:18
So it's just better. And over time, the world is
20:22
going to come to that realization.
20:25
And again, the absolute scarcity aspect of it is it's basically a
20:29
guarantee that this thing's going to go up, especially now
20:34
that Wall Street is involved. Like the fact that we heard last
20:38
week, like you guys have to connect the dots.
20:40
And this is what we do for you guys on Simply Bitcoin Live,
20:43
right? We connect the dots for you guys
20:44
so you guys could see the bigger picture and not get lost in the
20:48
noise that happens on a day by day basis, right?
20:51
So last week we had Citibank announce that they are going to
20:57
custody Bitcoin for their clients.
21:00
They did this at Michael Saylor in Bitcoin Magazine's conference
21:07
Bitcoin for Corporations Now. The the big deal.
21:12
Of that is, Michael Saylor predicted back in 2022 that
21:17
there was three things that needed to happen in order for
21:20
Bitcoin to hit. I think it was like $5,000,000
21:23
per coin or something like that. 3 million. 10 million, I forget
21:26
it's like. Millions of dollars per coin.
21:27
Let's get to 1, right? But he said, let's get the one.
21:30
50. He said there was three things
21:32
that needed to happen. First thing was it was the
21:37
change of the change in the accounting rules.
21:39
Second thing was the approval of the Spot Bitcoin ETF.
21:42
Third thing very important was the ability for banks to custody
21:47
Bitcoin that has happened yet, ladies and gentlemen right.
21:51
So you have to separate the long term trends, which is happening
21:56
right now, right, which is what you're visualizing, which is
21:59
what you're seeing and what you're experiencing when you
22:02
hear stuff like, you know, Marathon essentially
22:06
capitulating in a way, right? Yeah, they.
22:08
Didn't sell all, they didn't sell their coins, but they're
22:11
opening it up up to. So a narrative shift, you could
22:15
say capitulation, narrative shift, the same thing.
22:17
Happened with Tesla, by the way, right?
22:18
Tesla, like ultimately they're one of the big, you know, seven
22:22
tech companies that bought Bitcoin and then they
22:25
capitulated shortly after. And then ever since they haven't
22:27
capitulated because they realized, Oh my God, like, look
22:30
at how much money we would have made, right?
22:33
So this is all part of the course.
22:35
This is like, and you guys have to understand the psychology of
22:39
it. Like I'll tell you guys, right
22:43
in your first Bitcoin cycles, right when you were in and you
22:46
were down 50 sixty 70% or maybe you dabbled in some alt coins,
22:51
right? And then it reaches a point
22:54
where you freak out. You feel like you're going to
22:56
lose your money. This is like Wall Street
22:58
psychology one O 1. You feel like you're going to
23:01
lose all your money and then what do you do?
23:03
What do you do? You capitulate, you sell, you
23:07
freak out, you think you're going to lose all your money,
23:09
right? And then that tends to be where
23:14
the where the bottom forms. And then after that, Bitcoin
23:18
starts, you know, the the cycle resets, it repeats, and then off
23:23
to the race as we go, right? So this is just another
23:27
indication of the bear market Blues and the capitulation
23:32
process happening in real time. But I want you guys, that's
23:35
noise though. That's noise.
23:37
It's a short term trend. I want you guys to pay attention
23:41
to the signal. The signal is you're buying
23:43
Bitcoin right now at a 50% discount.
23:45
That's number one. And #2 the major news from last
23:49
week. I'm going to keep repeating
23:50
myself all week. This week, Citibank, third
23:55
largest bank in the United States, trillions of dollars of
23:58
assets under management, just announced, hey guys, we're going
24:03
to custody Bitcoin at a Bitcoin event at a Bitcoin conference.
24:08
That is the major breaking news. You also have Schwab, right?
24:13
One of the largest brokers that, you know, are used for older
24:16
people to buy and sell stocks and all of that stuff also
24:19
announced that they're going to have the ability for their
24:22
clients to buy bought Bitcoin. So again, this asset isn't going
24:27
anywhere. It's going through a maturing
24:30
phase. It's definitely entering a new
24:34
chapter in its life cycle 100% and but you know, I'm here for
24:40
it. I'm here for it.
24:41
I, I love this cycle in particular because of one reason
24:46
and one reason only. The uncertainty is back.
24:50
The uncertainty is back. If I tell you guys, hey, do you
24:54
think bitcoins going to hit 500 K per coin in the next 4-4
24:59
years? I guarantee you that a big
25:01
portion, a big portion of you guys don't have the utmost
25:06
confidence that it's going to do that.
25:09
You just don't know, right? And again, we have to go back to
25:12
the past, you know, to you have to learn from the past to, you
25:17
know, I don't want to say predict the future because no
25:19
one could predict the future. But you have to learn the
25:21
lessons of the past so that you don't, you know, make those same
25:25
mistakes in the future. And what can we learn about the
25:28
past? Back in 2017, the Bitcoin price
25:33
in January of twenty, 20/20/2017 was $1000.
25:40
At the end of 2017, the Bitcoin price was $20,000.
25:46
That's a 20X in 365 days, right? Do you think if I would have
25:53
told you in the beginning of 2017 that an asset is going to
25:56
20X, if I told you in January, you know what you would have
25:59
done, right? You would have laughed me out of
26:02
the room? That is uncertainty.
26:04
That is doubt, right? And the, all of that doubt and
26:08
uncertainty was created because of the horrific cycle that
26:13
Bitcoin was coming out of leading to 2017.
26:17
It was the Mount Gox explosion, right?
26:19
And that completely took away all the the confidence in the
26:23
room out of Bitcoin. People didn't believe in Bitcoin
26:26
anymore, right? And it had this grueling like
26:30
one to two year bear market where essentially did nothing,
26:34
right. And it just kind of like, you
26:35
know, it just kind of oscillated in a, in a specific price range.
26:40
Now I feel that certainty is back, that uncertainty is back.
26:46
I feel it, I feel it in the air. I feel it when I talk to people,
26:50
they don't, they don't feel as optimistic in Bitcoin and the
26:54
future price appreciation in Bitcoin as they used to.
26:58
And these are the types of moments where it is the most
27:02
opportune time to buy. And these are the types of
27:05
moments that you look back two or three years from now and
27:08
you're like, wait a second, dude.
27:10
Do you remember when we had an opportunity to buy Bitcoin at
27:13
$68,000? Like, what the hell were we
27:17
thinking, right? So anyways, oh hey Nico.
27:24
As you know, we've we've been around the block a few times,
27:26
right? You know, a couple bear markets
27:28
and you said something interesting and it makes me
27:33
wonder, you know, there's always, there's always as as we
27:37
like to joke in Bitcoin, there's always like a final sacrifice at
27:40
the bottom of a bear market. Like there's always something,
27:43
you know, something huge that happens.
27:47
Are we going to see that final sacrifice from the public
27:49
Bitcoin miners or from just the pure Bitcoin treasury plays?
27:54
Because I, I don't think it's going to come from like a Mount
27:56
Gox FTX scenario this cycle. I think maybe we learned our
28:00
lesson the, you know, hope, hopefully we learned our lesson
28:03
as as a community, as an industry.
28:05
The last bear market. Where do you think it's gonna
28:08
come from, Nico? Is it the public Bitcoin miners
28:10
or is it a Bitcoin treasury company liquidating all their
28:13
holdings? Yeah, I.
28:14
Mean I'm gonna I'm gonna keep sticking to what I've been
28:17
saying. Treasury company.
28:18
I think the essentially the the the capitulation.
28:22
What The thing is you never know.
28:23
Yeah, exactly. That's the thing you never know
28:25
that's number one that's you never know which what's gonna
28:27
blow up. But essentially what I think
28:32
essentially this cycle in particular was, well, I'm a big
28:38
fan of STRC by the way. We talked about that on
28:40
yesterday's show. But I think that this cycle,
28:46
the, it's going to be one of the Bitcoin treasury companies.
28:49
I mean, I'm not to be specific because a lot of these people
28:51
are my friends, but you know, some of these treasury companies
28:55
are like down more than 80%, bro A.
28:59
Lot more than 90%. It's wild.
29:01
Like 90%, like it's wild. Like I'm not going to be
29:04
specific on which ones, but you. Guys know what they are, but.
29:09
You know, we, we, we love the the entrepreneurs that, you
29:12
know, set those up. But you know, yeah, like that's,
29:17
that's great Bitcoin treasury company.
29:19
That's crazy. And then, and then there's
29:20
someone there, there's some of those not to be specific that
29:24
are at risk of being unlisted and stuff, Right.
29:28
Yeah. 100% totally because historically it it kind of does
29:33
come from the Bitcoin miners having to sell at the very
29:36
bottom. But it is interesting now that
29:39
we saw the hype cycle coming from the Bitcoin treasury
29:41
companies. So now it's like the final
29:44
capitulation, the final sacrifice to move up into the
29:47
bear market I want. To go on record might.
29:49
Be from the treasury company I want to go on.
29:51
Record too, like I think some of these just like based on their M
29:55
NAV and stuff like if you are, you know, if you had, do you
30:00
have a taste for a little bit more risk and and are fully
30:05
aware that you are buying like a leverage play on Bitcoin, you
30:10
know, yoloing into a stock that's 80% down heading into a
30:15
bull market. I mean, you might hit a home
30:18
run. I'm, I'm not even joking, like
30:20
like I, I'm telling you like like if MicroStrategy goes to
30:24
$50 is not guaranteed like that to me, I mean. $50 MSTR.
30:29
I was like a no brainer. I'm not.
30:31
A stock guy, but I don't think it's.
30:32
Going to 50, but it's a no brainer.
30:34
Yeah, and and. No one thought Bitcoin was going
30:36
to go to 16 last time and no one thought it was going to go to
30:38
3500 like it it. I always hear the same shit
30:42
every single bear market, every single time.
30:44
I can't go lower. I can't go lower I've.
30:47
Been saying it can get lower. But that's but you just been
30:50
shaking your head I. Just MSTR at $50 is like crazy
30:54
to me. I I think it's going to hold on
30:56
that like hundred 120 range where it's at I.
30:59
Make me very sad. Because you can't buy an M50.
31:05
All right, everybody, it's going to be a great show.
31:07
We have a guest joining us later today.
31:10
We have Gary Leland from Bitlock Boom.
31:12
That's going to be great. I have some clips for you guys
31:15
which I want to share. Ray Dalio is not a fan of
31:19
Bitcoin. He was on the, I think it was
31:23
the All In podcast, I believe, and he had some comments about
31:27
it. So we're going to be talking
31:28
about that. And then I don't know if I'm
31:30
going to be on the show by then, but Fed to inject $16 billion
31:36
into U.S. economy money printer. So let's see if we can get
31:42
through all this before I have to bounce.
31:44
But all right, everybody, let's start the show.
31:47
It's going to be a great show. Make sure to smash that like
31:49
button. We still got a ton of content
31:51
for you guys lined up and stay tuned.
31:55
We're going to be right back in just a bit.
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take you to the website. Let's get into today's numbers,
34:41
shall we? At the time of recording, the
34:43
Bitcoin price is $68,380. SAT's per dollar 1462 block
34:51
height 939,164 Realized monetary inflation .83% Market cap 1.37
34:59
trillion Bitcoin versus gold market cap 4.57% Percentage
35:03
issued 95.22% decline from all time high.
35:08
Currently sitting pretty at not sitting pretty.
35:10
I mean it depends on how you look at it.
35:12
If you have cash and then it's definitely sitting pretty.
35:16
We're currently down 45% from the all time high.
35:22
You guys wanted volatility. Careful what you asked for.
35:25
Anyways, here is Ray Dalio. I believe he was lately on.
35:33
He was lately on This is the All In podcast.
35:35
I want to give credit to the content creator.
35:37
This was the looks like. The all in on the bottom corner.
35:40
Yeah, it. Looks like the All In podcast
35:41
OK. So.
35:43
And he made some comments about Bitcoin.
35:45
Now it's quite interesting. Ray Dalio's like, you know,
35:50
Bitcoin story arc curve. He went from being like
35:54
completely against this. This is one of the most
35:56
successful hedge fund managers in the water in the world, in
35:59
the world he runs. I think it's Bridgewater
36:02
Associates. Very, very famous, very, very
36:06
successful. He wrote a very good book.
36:09
It's very popular. It's like about the changing
36:11
world of order. Also something about rules for
36:15
life or something like that. Anyways, I digress.
36:21
Let's check out this clip. Let's see what he has to say
36:23
about Bitcoin and it seems like he has gone a little bit full
36:28
circle, but not completely full circle on Bitcoin.
36:31
So let's check out what he has to say.
36:35
It's quite interesting. And then of course me and Opti
36:38
will have a conversation about it.
36:41
OK, so Bitcoin does not have privacy.
36:45
Any transactions can be monitored and then indirectly
36:51
perhaps controlled. Central banks are not going to
36:54
want to buy Bitcoin and being able to hold it.
36:57
So it's not just individuals, it's institutions and so on, but
37:01
most, you know, and central banks.
37:04
So that there are attributes of that.
37:06
There is been some question or thoughts of the development of,
37:12
you know, new technologies like quantum computing and so on.
37:15
Can there be issues regarding that?
37:18
And then there's, you know, who owns it and what are the other
37:22
exposures that they have in their portfolio.
37:25
It tends to have a pretty high correlation with the tech
37:30
stocks. So from an ownership, you know,
37:34
just the supply demand is affected by somebody gets
37:38
squeezed in one thing, they sell something that what whatever
37:42
else they have. So there are those dynamics.
37:45
It's a long way and it's and it's a relatively small market
37:49
that's a relatively controllable market.
37:52
I think a lot of attention has been given to Bitcoin, but as a
37:55
money, you know, it's it's it's it's small in relationship to
38:01
gold. And so, you know, those are the
38:03
dynamics. There is only one gold.
38:06
What about? Silver.
38:09
So I mean like, oh, was I sharing that?
38:14
I'm sorry. So I mean, like my my assessment
38:19
is, you know, in all seriousness, like, you know,
38:25
like he's just like nitpicking like a variety of different
38:28
things. You know, you take it back five
38:31
years ago and it was different arguments whether the
38:36
government, you know, governments were going to buy it
38:39
is only use it for money laundering.
38:41
You know, it uses too much energy.
38:43
Like, he just laid out a bunch of new different FUD talking
38:47
points, basically. And most importantly, I don't
38:53
know if this was a Freudian slip or I just don't.
38:55
I maybe he just truly believes in the system.
38:58
He said central banks won't buy it because there's no privacy.
39:05
Like, isn't that ironic? Right.
39:07
And then the other part, which is like, we.
39:09
Yeah, yeah. What?
39:09
Do they need privacy for? Like, like, like, isn't that the
39:14
whole point of of like because they always call Bitcoin private
39:18
money, right? Like why does public money need
39:21
privacy? Like why?
39:22
Why does it need? Why do central banks need to be
39:25
opaque in their dealings if they're supposedly working on
39:29
behalf of their citizens? Peso doesn't make sense.
39:40
Look, I know you guys yell at me constantly because I, I, you
39:44
know, I'm not the nicest to a lot of boomers.
39:46
Like we're going to have a cool Bitcoin boomer on the show
39:49
today, later, Gary Leland. But honestly, this was just like
39:53
pure boomer energy here. Like Ray Dalio has come a long
39:57
way in the Bitcoin in his Bitcoin understanding and
40:00
Bitcoin narrative. For a long time.
40:02
It was kind of like just ignore that.
40:04
Now he's kind of. Kind of like, yeah, maybe
40:06
there's a maybe there's a place for Bitcoin and and I really
40:11
think the blind side for Ray Dalio is like, he's so spot on
40:16
when it comes to currency decline historically.
40:20
You know, the whole 250 year cycle meme, I'm sure you've seen
40:24
it, you've heard it been talked about.
40:27
It's just he I think has a blind spot because he is so kind of
40:33
like China happy. Like he he's very pro China and
40:39
a lot of his his economic macro breakdown and speculation of the
40:44
future that is his. Do you?
40:46
Not support the Chinese Communist Party.
40:49
Not at all trolling. I just don't think that the next
40:56
World reserve currency is going to be the Chinese you want.
40:59
That's I think where we break here.
41:01
And I think all of his rationalizations are him trying
41:05
to rationalize his theory, trying to make the data fit his
41:09
theory that he thinks the Chinese yuan is going to be the
41:12
next World reserve currency. You've seen the Bitcoiner chart
41:15
on this where we do, you know, the decline of world reserve
41:18
currency, the US dollar is seemingly on the decline.
41:22
We are around that 250 year mark and we think that Bitcoin is
41:27
going to fill that role. Now, it could take a while, it
41:30
could be a while before Bitcoin fully cement itself as the world
41:34
reserve currency. But in Ray Dalio's models, it's
41:37
not Bitcoin that's rising. He thinks it's the Chinese yuan.
41:41
And I think a lot of the stuff that he says around Bitcoin is,
41:45
is because he has that soft spot for, you know, the Chinese yuan,
41:49
the Chinese economy. And now he's just kind of back
41:52
rationalizing all this stuff like he what he thought like no
41:55
privacy, central banks are going to adopt it.
41:57
Quantum FUD. It's just like it's low level
42:00
FUD. And and Ray Dalio is someone
42:03
that is respected, you know, but there has been a lot of young
42:07
people maybe from our generation that's like, look, it was easy
42:12
for him to be Ray Dalio. He basically, I'm not saying he
42:15
got lucky because I don't think he it's pure luck, But if you
42:19
were investing money when he started investing money, you
42:23
don't have to be a complete genius to to make a lot of
42:26
money. That's all I'm kind of saying, I
42:28
think. Ray Dalio is extremely smart, I
42:30
agree. But also.
42:32
He's. Missing he's missing Bitcoin.
42:34
He's. Done was is incredible.
42:36
I do agree with you in the sense that it, it was a lot easier for
42:41
the older generations to accumulate wealth than the
42:46
current generations. And like, this is like a this is
42:49
a non debatable. This is yeah, this is, this
42:52
isn't an opinion. Like this is, I'm not, I'm not.
42:54
This is a non debatable fact. You know, the, the, the Gen.
42:59
Z ers, the millennials, like we're the first generations that
43:02
are, that are poorer than our parents, even though the country
43:06
in the world has gotten wealthier as a whole.
43:09
So clearly there's a reason for that.
43:12
I mean, you know, like I, I went on rants that a lot of you guys
43:17
didn't like yesterday, you know, because we got into to politics
43:21
because of the events that happened last week.
43:24
But you know, one of the one of the key points that I made last
43:29
week was basically like, look, imagine if they spent all of
43:33
that money that they're essentially spending overseas
43:38
for, you know, for foreign policy decisions and what not.
43:42
Imagine if they spent all that, all of that money And did they,
43:46
if they directed it towards the United States, like how much
43:50
more prosperous the United States would be today than if it
43:55
wasn't? And then who was responsible for
43:58
making those types of decisions? So yeah, anyways, we got the one
44:05
and only Gary Leland joining us, and we're going to bring him
44:11
back up. We're going to bring him up on
44:13
the show right after the break. We're going to be right back.
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Anyways, I do want to welcome our guests.
47:10
We got Gary Leland in the house. Gary, thank you so much for
47:13
joining us. How you doing, man?
47:15
Good. Good.
47:16
Long time no see. Not that long, no.
47:18
Oh, been a long time. No see.
47:20
Has been, has been a long time. Gary.
47:22
Gary, I do want to go over some of the trending new topic,
47:27
trending news topics that we have today.
47:30
Want to get your opinions on them?
47:32
First, let's start off with the Forbes headline article, which I
47:38
found quite interesting. We're covering it on yesterday's
47:40
shows. Quite unpopular this topic, and
47:44
I'm going to connect it with some breaking news that just was
47:47
released this morning at 8:48 AM. the Fed to inject $16
47:53
billion in U.S. economy, according to Kalisha.
47:57
I think there's one of the betting platforms, right, Opti.
48:01
And this goes line in line with what Arthur Hayes was saying
48:06
yesterday when we were reading his famous Substack article.
48:10
He was making the case that, historically speaking, every
48:14
time the United States has entered a conflict in the United
48:18
States, the Federal Reserve steps in to act as a backstop to
48:23
make sure that the economy isn't affected by the conflict.
48:28
Already gas prices have gone up, Of course.
48:32
I mean, that region is very energy, you know, heavy.
48:35
It produces a lot of energy. So it makes total sense in that
48:38
regard. And then check out this article
48:41
by Forbes. It's almost as if they were
48:43
reading Arthur Hayes Substack article.
48:46
The Forbes article says number goes up Iran conflict has
48:50
Bitcoin bulls eyeing 500,000, which sounds absolutely terrible
48:55
in a way. And in fact, they did.
48:57
Read the Arthur Hayes Substack post Arthur Hayes, the Co
49:03
founder of Bitmex and one of the most followed macro traders in
49:07
crypto, laid out a provocative Bitcoin price prediction in a
49:11
March 1st post. His argument?
49:13
Every U.S. military engagement in the Middle East since the
49:16
Gulf War has eventually been funded by money printing.
49:20
Iran will be no different. The longer Trump lingers in
49:24
Iran, the higher the likelihood of the Fed printing money to
49:28
support the PAC Americana war machine, his Bitcoin price
49:32
target. You know.
49:34
Take a seat. Sounds a little bit hopium to
49:37
me, but I'll take it. 500 to $750,000 contingent on the
49:43
Federal Reserve shifting back to quantitative easing.
49:47
That remains a long term call rather than a near term
49:50
forecast, though his earlier prediction of 200,200 thousand
49:54
dollar Bitcoin by March 2026 has not materialized.
49:58
Now the reason I brought up that Kalishi post is shortly.
50:03
After oh, thank. You, bro, I don't.
50:05
I don't know, man. Kalishi Kalishi.
50:07
I don't know how. To say sound it out, sound it
50:09
out. I don't know bro, I didn't get
50:12
here 'cause I know how to read, bro.
50:13
OK, so I think you. Did a fine job, I understood.
50:18
Thank you, Gary. I appreciate the support and
50:21
Opti. Mind your own damn business over
50:23
there. You're talking to me all.
50:24
Right. All right.
50:27
What'd you say? Koushi.
50:28
It's koushi, bro. OK What did I say?
50:30
Khalishi. Khalishi.
50:31
There's no. E in it, I have to agree, yeah.
50:35
It's Game of Thrones bro. I'm thinking of Khalisi Khalisi.
50:39
Anyways, so this go, this go, I'm going to mute you.
50:45
This goes hand in hand with the theory of Arthur Hayes in
50:49
regards to the Fed Would step in and essentially prop up the US
50:55
economy while the US engaged in another major war in the Middle
51:01
East and breaking just in from Khaleesi Fed to inject $16
51:09
billion in U.S. economy. So this could just be the very
51:14
beginning of this. We also have news that gas
51:17
prices have been going up due to the conflict.
51:21
It seems like the stock market hasn't been affected yet.
51:23
That's what you were saying, no? No, it it tanked.
51:26
This morning it's bloody Tuesday, so I think maybe there
51:29
was a delay for the markets to react to the war, but today
51:34
things are repricing so. You know, and historically
51:38
speaking, and this sounds terrible by the way, we were
51:40
talking about this yesterday, Gary, like the fact that like a
51:43
war needs to happen in order for the Fed to start printing and
51:47
then that's gonna lead to number go up or the Bitcoin price to
51:51
go. That all sounds horrific and bad
51:53
and and terrible. But you know, what are your
51:58
thoughts, Gary? First of.
52:00
All if they're printing that much money, you know, printer go
52:04
Burr. I mean, we're gonna have to see
52:05
a pricing some some something happened with Bitcoin with that
52:09
much money printing. But that's interesting Arthur
52:12
statement, which I think makes a lot of sense.
52:14
I was telling Kathy when we I woke up and saw the war started
52:18
or when I first saw it, I said, wow, I wonder how many people I
52:21
ran are buying Bitcoin. I mean, that was one of my first
52:25
thoughts. I mean, you know that their
52:27
dollar what I don't know what their dollar is.
52:29
I can't think of the name of it right now.
52:30
It's in the toilet already. So now with this going on, it
52:34
must be super in the toilet. So I would think that that would
52:38
be the first thing everybody there will be doing is buying
52:40
Bitcoin. I didn't even think about the
52:42
fact that we're going to print a lot of money to help support the
52:46
effort, the war effort. I mean, you know, But yeah, that
52:49
all makes perfect sense to me. And maybe it's one of those
52:51
things people don't like to talk about how we're going to benefit
52:52
from war, but we are. I mean, I think it's pretty cut
52:55
and dried. So I mean, hold on.
52:58
Hold on, Nico, I don't mean to cut you off and I and I want
53:00
this to continue, but Gary did mention people buying and or
53:05
rather taking and self custody Bitcoin.
53:08
I did see this on Bitcoin magazine tweeted this morning,
53:12
which is just in Iranians are buying Bitcoin and math with
53:15
mass withdrawing it into self custody amid the war.
53:19
Bitcoin is the flight to safety. And you can see there was a
53:21
blackout here in January where it went, you know, basically
53:25
went sideways. But in the last couple of days,
53:28
and I guess even preceding this war, there has been a lot of
53:32
Bitcoin being bought and taken off exchanges.
53:35
So it's not just theories that, you know, Bitcoin is a slight
53:39
flight to safety. It's happening.
53:41
I'm glad I. Got something right for?
53:43
Yeah, that that's wow. That's it it it's it's
53:46
definitely a silver lining and it and it proves the the Bitcoin
53:49
thesis of of it being sovereign money.
53:52
I think I. Think it's proves something else
53:54
that people don't consider in times like this, you know, in
53:57
times of war like this or when there's an embargo on your
54:02
country, you know, that we put on your country, where are you
54:05
going to buy? The kind of person going to buy
54:07
things to put their money into? They're not going to be able to
54:09
get gold or silver. I mean, it's not coming into the
54:11
country. This is the only form of safety
54:15
you can get for your reserve in a country like Iran right now is
54:18
Bitcoin. That's it.
54:20
Yeah, yeah. I, I, I it's.
54:22
No, it's 100% sure it's a flight to safety.
54:25
You know it's a flight to safety.
54:26
People feel insecure. The the I think the currency is
54:29
hyperinflating bro it. Crashed to basically zero
54:33
against the dollar, so. Like so it had.
54:35
Already crashed before the war. I mean just by embargoing it,
54:38
it's. Been pretty bad.
54:39
I think the math I saw yesterday was like 1000 Rios is like .007
54:46
cents. So what like 2/3 of a penny.
54:50
So it's, it's definitely crashed, right?
54:52
Yeah, I think. I saw this morning something
54:53
like these numbers are probably wrong, but it was extreme like
54:56
this. Like when the embargo started,
54:59
it went through 30,000 riyads to the dollar and now it's like
55:03
hundreds of thousands to the dollar.
55:06
Yeah. Makes sense?
55:08
Yeah, but anyways, that's the the news coming from news coming
55:14
from the Middle East. It's it's so terrible.
55:16
It's so terrible to say that because it's like we had like
55:19
such an anti. By the way, Gary, yesterday.
55:23
Sorry, I don't know. What the hell.
55:24
What the heck? I got to shave my mustache.
55:26
Thanks for sharing. That with us, I got to.
55:28
Share I got to shave my mustache.
55:29
I don't know, I got a piece of hair in my mouth or something.
55:32
But anyways, but the like the, the, the thing that I got from
55:39
yesterday's show, Gary, it was very strange.
55:41
And I'll tell you why I was very strange.
55:43
So like we took a clear anti war stance.
55:48
Like we're, we're, we're like listen, like we don't like this
55:52
anti war. This is bad.
55:55
And to our surprise, it was not received.
55:58
Like it was like, I would say 60 to 70% of people agreed with us
56:03
watching the show, but 30 to 40% actually agreed with the
56:08
conflict, which has me feeling a certain way about that.
56:13
And then the second part is the fact that as Bitcoiners, we
56:19
actually benefit from the conflict because of the Fed
56:25
having to potentially step in, which they already, they already
56:29
have. They're like, according to
56:31
Khaleesi, they already stepped in.
56:33
They already announced that they're, they're, they're
56:35
stepping in and they're, they're injecting money into the US
56:37
economy as Arthur Hayes predicted.
56:40
But it has me a little bit conflicted, Gary, like I, I
56:43
don't know what. I don't think you.
56:44
Should be so conflicted about that you're not doing anything
56:47
to go to war and you're not celebrating going to war, you
56:50
know, and whether your politics are you want to go to war or
56:53
not, that's not the issue to me. The issue to me is that because
56:59
of Bitcoin, whether we profit or not because of Bitcoin, people
57:03
there have a flight to safety that they wouldn't have at all.
57:06
So whenever this is settled and done, those people are going to
57:09
be way better off because of Bitcoin.
57:12
And if and if by a sideline I profit, nothing I can do about
57:15
that. I'm not going to sell my
57:16
Bitcoin, so I don't profit. So that's just a sideline I
57:19
can't do anything about. Do I?
57:21
Do I mind if my stack goes up? No, I don't.
57:24
Do I want a war? No, I don't.
57:26
You know, But you know, I don't have any controls over either
57:30
one of those things. And I don't get, I don't worry
57:32
about things I can't control. I I like that that's some that's
57:36
some some Gary, Gary Leland wisdom right there.
57:40
Anyways, before we get into the culture to talk about the
57:43
longest running Bitcoin conference bit block boom, I do
57:46
want to give a shout out to our partners and then we'll be right
57:51
back in just a little bit. I want to give a shout out to
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So ladies and gentlemen, there's two major conferences happening
58:40
in April. I do got to have I have to give
58:42
a shout out to our paid partner bit Bitcoin 2026.
58:46
It's happening April 27th through the 29th.
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You want to get your tickets quickly before the prices go up.
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Use promo code simply again, promo code simply to get your
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tickets to Bitcoin 20261 of the largest Bitcoin conferences in
59:01
the world. You're not going to want to miss
59:03
it. I said there's two Bitcoin
59:05
conferences happening in April and of course you guys don't
59:09
want to miss the Bitcoin conference that's happening in
59:11
Las Vegas, NV at the Venetian Hotel.
59:14
But you also don't want to miss the bit block boom conference
59:18
that is happening in the beginning of April.
59:21
And as I said before, we did the the the commercial break.
59:26
This is the longest running Bitcoin conference ever.
59:31
Isn't that right, Gary? Yeah, anywhere.
59:33
It's 9th, 9th year there. There are some that were before
59:35
us, but they aren't running anymore, you know, so this is
59:38
our 9th year. So that's a long time Bitcoin
59:42
world. And, and I, and I love the, the
59:45
you guys have to experience, you know, I consider this a, a, a
59:49
rite of passage for, for all Bitcoiners, right?
59:53
Because the experience that you'll get at bit block boom is
59:57
different than the experience that you get at, at the Bitcoin
1:00:00
conference. And it's just different vibes,
1:00:03
like different feelings. But I I'll tell you my personal
1:00:06
experience. My personal experience, the
1:00:08
first Bitcoin conference I ever went to was Gary's Bitcoin
1:00:13
Conference, and it was the Bit Block boom conference that me
1:00:16
and Opti went through. Where there is the fame, the
1:00:18
infamous or the famous, depending on the way that you
1:00:21
look at it. Lobbycon, where it was, it was
1:00:23
happening during the era of the pandemic and essentially people
1:00:28
weren't allowed to group together.
1:00:30
So everyone just ended up grouping together at in the
1:00:34
lobby, right? So it was a celebration.
1:00:36
It was actually the first time me and Opti met each other in
1:00:40
person. So it was this conference holds
1:00:43
a very special place in my heart.
1:00:45
Opti, could you Scroll down a little bit, please?
1:00:48
So this conference go up, go up. So this conference is happening
1:00:53
April 9th through the 12th, 2026.
1:00:56
And it's happening in Dallas. Yeah, it's Fort Worth.
1:01:00
Dallas, Fort Worth. Fort Worth, this is.
1:01:02
This is going to be way different.
1:01:04
Not the same. It's not going to be the.
1:01:05
Same as anything you've been to on SO.
1:01:07
It it's so like Fort Lauderdale, Miami, right?
1:01:10
It's like, it's like the same. Yeah, yeah, yeah, yeah.
1:01:13
Yeah, You know, when people come from up North Europe, Australia,
1:01:19
they're coming to Dallas and they're expecting to see what
1:01:21
Jimmy Song looks like there in that picture.
1:01:24
They're expecting to see people walking down the street,
1:01:26
tumbleweeds, things like that. You aren't going to see me
1:01:29
tumbleweeds in Fort Worth, but you're going to see the cowboy
1:01:31
experience. You're going to see people
1:01:32
wearing cowboy boots and hats and big belts and, and it's not
1:01:36
going to be like they're dressed up for something.
1:01:38
That's how they dress everyday. It's in cow town.
1:01:40
There'll be a cattle drive that comes by with Longhorn steer.
1:01:44
We're doing a Thursday night event at a rodeo.
1:01:47
You know, we have VIP section and this is going to be unlike,
1:01:50
I think in the past eight years, every time someone came, they
1:01:53
go. I could be in Philadelphia or
1:01:55
Austin or Denver. It's the same.
1:01:57
It's just big buildings. This time they're going to get
1:02:00
the Texas experience and and they're really going to enjoy
1:02:03
it. I'm I'm curious to see right
1:02:06
outside the door, the next shop is a cowboy hat shop.
1:02:09
I'm curious to see how many cowboy hats we see people buying
1:02:11
and wearing. The Texas, the Texas, the Texas
1:02:15
experience, Russ and I, Russ and I are going to be there as well.
1:02:18
It's going to be great. We're.
1:02:21
Going to be, yeah. Russians going to be emceeing.
1:02:23
We're going to be live streaming the event, which is going to be
1:02:25
fantastic. It's going to be great.
1:02:28
And we got some high profile speakers on here.
1:02:31
We got Caitlin Long, Adam O'Brien, we got Bo, we got Kent,
1:02:36
we got Pierre Richard, Bob Burnett, Larry Leopard.
1:02:39
Always a great speaker guy Swan, Anders, Matt Hill, we got some
1:02:47
heavy hitters here. So really looking forward to,
1:02:50
you know, bit Block boom 2026. It's the same.
1:02:54
It's the same month as the Bitcoin conference. 2 totally
1:02:57
different vibes, 2 totally different experiences.
1:03:01
Totally want to make them to both.
1:03:02
I'm going to both of them and what what Gary has put together
1:03:07
in Texas is very, very special. That's very, very special.
1:03:11
You said a minute ago you and Anders met at bitblock.
1:03:14
Boom. If you know.
1:03:15
Meenopti. Meenopti.
1:03:16
I'm sorry. If you knew how many times I'm
1:03:19
at an event, whether it's in Vegas or wherever, and someone
1:03:23
will inevitably many people will come up to me and tell me I
1:03:27
found my dream job because of Bitblock Boom.
1:03:30
You know, I was there, I met so and so or I talked to so and so
1:03:33
and they put someone in touch with me.
1:03:35
You know, with our cat being, we try to cap it at around 500.
1:03:38
You can really talk to everybody.
1:03:40
And it's not like people come in and out the back door.
1:03:43
You know, at a bigger conference, you're bringing
1:03:44
people. You can't bring them to the
1:03:45
front door. You have to bring them up to the
1:03:47
stage from the back door and then they go out the back door.
1:03:50
And you may never get one-on-one time with them Where at our
1:03:52
conference, they usually come from out of the crowd.
1:03:54
They're watching the event, They go up on the stage and speak and
1:03:57
they go back in the crowd and then they go to the social
1:04:00
events at night, so you have plenty of time.
1:04:03
Yeah, absolutely. It's it's very special.
1:04:05
It's very special. It's very unique.
1:04:07
A lot of and it's Bitcoin. Only and allowing shit coins.
1:04:11
We'll kick you out for talking about shit coins, yeah?
1:04:13
It's a Bitcoin, it's a Bitcoin only conference and so it's very
1:04:17
unique, it's very special and Gary does a great job organizing
1:04:22
it. So hope to see you guys in hope
1:04:25
to see you guys in in, in Fort Worth, the the the Fort
1:04:28
Lauderdale of Dallas. I guess it's just.
1:04:32
Fort Worth. It's just Fort Worth.
1:04:33
Yeah, there's not another one. And project someplace.
1:04:36
In Montana or Wyoming like that? And and if.
1:04:41
Anyone does go to sign off, let me say that they use the code
1:04:46
Gary. I think that gets them pretty
1:04:48
sizable discount. Awesome.
1:04:50
Yeah. So you use the use the pro use
1:04:52
promo code, Gary, you get a discount and we'll see you guys
1:04:56
a bit block boom. It's going to be fantastic.
1:04:58
I want to thank Gary for joining us on the show today.
1:05:00
Gary, thank you so much. Appreciate it, guys.
1:05:03
Thank you so much for tuning in. Great show. 500 live viewers on
1:05:06
YouTube alone. I like that.
1:05:07
I like that. Anyways guys, you're good man.
1:05:10
If. You guys enjoyed the show you
1:05:11
not to do smash the like button consider subscribing and we'll
1:05:14
see you on the next episode of simply Bitcoin live take care
1:05:17
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