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British Hodl | One Bitcoin is Enough | Simply Bitcoin IRL · Simply Bitcoin

0:00
Yeah. Welcome to another episode of
0:01
simply Bitcoin IRL. Today we have a very special
0:05
show for you guys. We have British huddle.
0:08
He's absolutely crushing the game on Bitcoin Twitter and also
0:12
Bitcoin YouTube as well and really been looking forward to
0:15
this episode. I love the message of try do
0:18
whatever you can to try to get to 1 Bitcoin.
0:21
So we're going to explore those topics today.
0:23
I've been looking forward to this conversation all day.
0:26
But before we get started, I do want to give a very special
0:29
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To get started, go to Bitcoin well com today all right
1:01
everybody no more delay. Let me bring up British huddle
1:04
on stage. How you doing man?
1:05
How's life I'm doing? Listen, life is great.
1:08
I'm doing well. Thank you for having me.
1:10
Firstly, I think you guys have one of, if not the best Bitcoin,
1:14
you know, channel on on YouTube. And I'm glad we survived the
1:17
assassination attempt. You got clipped in the air, but
1:20
we're back and we're we're fighting, so that's good.
1:24
Yeah, man, it was it was it was a quite, a quite a busy weekend
1:28
it was. I did not stop either on Twitter
1:31
or on the phone texting and just kind of figuring out what the
1:34
situation is, but super grateful for for the entire Bitcoin
1:38
community that had our back and of course, team YouTube that,
1:42
you know, fixed the issue pretty quickly.
1:45
Anyways, Otto, I think you've like made the phrase famous,
1:49
right? Get to one Bitcoin.
1:51
It's obviously clearly resonated with a lot of people.
1:54
So I want to start off the conversation with that.
1:57
Why is it so important for people to get to 1 Bitcoin?
2:03
Look, we're dealing with an asset that finally in in the
2:09
entirety of human history, we finally have an asset where
2:14
there is actually a limited supply.
2:16
This is the first time in human history that we've ever seen
2:19
anything like this. And what that tells you is, is
2:21
that you can't just get to this whenever you want to.
2:26
You can't just find Bitcoin whenever you're ready for it and
2:30
hope that you know the future generations will be able to get
2:33
enough of it because there is only 21 million of it.
2:36
So there is a race on and if you're not at one Bitcoin yet,
2:40
in my opinion, you're losing the race and you're going to be
2:43
irrelevant in a future Bitcoin world.
2:45
You have to get to 1 Bitcoin. And I and I think the supply,
2:49
the, the, the, the limited supply of Bitcoin dictates that
2:53
you must have at least one Bitcoin.
2:55
And right now you have a chance of getting that anywhere in the
2:58
West. And after we go on this next
3:00
little run up, I think that's going to be completely priced
3:03
away from a lot of people. Absolutely.
3:07
I mean, I, I feel like it already is in a way like
3:09
$59,204.00. Like what is that?
3:13
I think that's a little bit low, a little bit less than the
3:15
average salary for an American, and definitely a lot higher than
3:19
the average salary of most countries worldwide.
3:22
So, yeah. And I remember in the early days
3:25
I did whatever, not in the early days of Bitcoin, but my early
3:28
days in Bitcoin around 2016, I did whatever it took.
3:31
I think like I took 80% of my salary of what I was making at
3:34
the time and I just dumped it into Bitcoin.
3:38
I, I had no idea about where Bitcoin was going in the future.
3:41
I think I did it out of desperation because I didn't
3:43
like my current life situation. But looking, looking past, I
3:46
think that was one of the best decisions I've made in my life.
3:49
And I know what a lot of people are thinking because at that
3:53
time back in 2017, I thought, holy cow, you know, I think my
3:59
first Bitcoin price was around $600.00.
4:02
I was like, this is this is insane.
4:04
Like this is very expensive. Just hearing the stories of
4:07
people getting sub $100 Bitcoin and I'm like, I'm buying this at
4:11
$600.00, I'm buying this at 1000, I'm buying this at 3500.
4:15
I'm buying this at 10K. I've missed the boat completely.
4:18
Looking back, I'm like, why didn't I do more to accumulate
4:22
more Bitcoin at those prices? I think the same thing is going
4:26
to happen 510 years from now. People are going to be looking
4:30
at the days where you can get sub 100K Bitcoin and being like,
4:34
what was I? What like, why was I?
4:36
Why was I not doing enough? What would you think of that
4:39
British huddle? Yeah, I mean, right now
4:41
everyone's sitting around doing what they're doing, thinking,
4:44
you know, they've got enough Bitcoin for the future.
4:46
They've got enough Bitcoin for their children.
4:47
They've got enough Bitcoin for their progeny that for whoever
4:50
comes after them to carry their last name.
4:52
And they're going to one day realize that instead of fucking
4:54
around on on Twitter or whatever else that they're doing, what
4:58
they should have been doing is accumulating Bitcoin to get to
5:01
that minimum of one Bitcoin, if not more.
5:03
I'm not saying stop at one Bitcoin, but I'm saying you've
5:05
got to get to that one Bitcoin. Whatever.
5:08
If you're not at one Bitcoin, whatever you're doing today, you
5:11
are going to regret in five years.
5:13
I don't care what it is. I don't care how happy it makes
5:15
you feel. I don't care how much of A happy
5:17
hippie you are. I don't care how many hugs you
5:19
got, how many people told you you're a wonderful person, if
5:22
you don't have one Bitcoin in five years, you're going to
5:24
regret it. 100% Now let's talk about the potential of one
5:30
Bitcoin right. I think a lot of people are
5:32
saying what do you mean like $59,000, you know, worth of
5:37
purchasing powers is enough. Like what are you talking about?
5:40
And I remember the the price estimations that Sailor gave in
5:46
his most recent talk from from Bitcoin 2024.
5:50
The bull case was 49 million in 21 years.
5:54
The base case was, I believe, 13 million and the bear case was 3
6:00
million. Is that what you're
6:03
anticipating? Like when you say 1 Bitcoin, is
6:06
this one Bitcoin for someone that lives in the West?
6:08
Is this one Bitcoin for someone that lives in the developing
6:12
world where you know, $59,000 is going to take you a very, very
6:17
long way if you're in Argentina or if you're in Venezuela or in
6:21
Southeast Asia. But you know, $59,000 isn't
6:24
going to exactly take you a very long way if you're, you know, in
6:27
the United States, Europe, etcetera, etcetera.
6:30
So what do you mean that what, what are your expectations and
6:33
what is the time frame here? British huddle, Because I think
6:36
a lot of people, you know, they, they, they want to escape the
6:40
rat race now, right? So what do you have to say about
6:43
that? Yeah, Look, at the end of the
6:45
day, a lot of people want, you know, and I'm really, I don't
6:47
know if you know my history about price predictions, but
6:50
they're absolutely amazing. I thought I said we were going
6:52
to get to $100,000 by May 7th and one of these May sevenths we
6:56
will get to $100,000 by May 7th, right.
6:59
So my, my short term price predictions are absolute total
7:02
garbage, but I find them entertaining and that's why I
7:05
keep putting them out there. The main point is this, I come
7:09
from the United Kingdom. Anyone in the United Kingdom or
7:12
the US or AG7 nation should have their sights set on a minimum of
7:17
one Bitcoin. Completely understand if someone
7:20
you know in the rural heartlands of Indonesia can't get to one
7:24
Bitcoin because that's just not how it works.
7:26
And there's probably some adjustment of get to X amount of
7:29
Bitcoin that that person needs to do, but I don't talk to that
7:32
person. That person manages to benefit
7:34
from the things that I say and that's fine.
7:36
But I'm trying to create the North Star for the most amount
7:39
of people that I speak to, right?
7:43
And I think that is one Bitcoin, you know, and and of course,
7:46
there's different conversations being had in Bitcoin.
7:48
The beautiful thing about Bitcoin is, no matter who you
7:51
are, you can have the conversation that you want to
7:52
have. And for me, the conversation
7:54
that I want to have is the for the people like my parents who
7:57
have done the right thing, quote, UN quote for 40 years,
8:01
immigrated to the United Kingdom, bought property in the
8:03
UK, invested, spent time, raised two children, done the right
8:07
thing, sacrifice. And are now finding out that all
8:10
of that hard work was basically, you know, drained away because
8:14
of the amount of money printing that's happened.
8:16
And the and the value of the properties has not gone up as
8:18
much as it should have. That is who I speak to.
8:21
So if someone who's not got a pot to piss in has a problem
8:25
with me saying get to one Bitcoin, I'm not the person
8:27
you're you're looking for, you might need to go look for
8:30
someone else who can give you a more encouraging message.
8:33
For me, the people that I speak to, what they need to hear is
8:37
this is the hardest asset, most secure asset, the most limited
8:40
asset humanity has ever created. And you better, we better pivot
8:44
some of that real estate, you better pivot some of that stock
8:46
portfolio and you better get to one Bitcoin right now.
8:49
Because if you don't, you're going to be left behind just
8:51
like you always are. Because now that Blackrock's in
8:54
the game, now that Fidelity's in the game, now that all these
8:57
wire houses are coming down the pipeline, now that Morgan
9:00
Stanley's in the game, they're skipping everyone between
9:03
500,000 and $30 million net worth.
9:06
All of those majority real estate owners are getting
9:08
completely skipped over. It's the, it's the multi 100
9:11
millionaires that are being called right now to get into
9:14
Bitcoin. So my message is for the people
9:16
who've got that 500,000 to $30 million net worth and the
9:20
urgency of getting to one Bitcoin.
9:22
And if anyone else hears my message and gets the benefit of
9:24
it too, that's absolutely great. But my main point is for people
9:27
like my parents who need to wake up now.
9:31
Yeah, absolutely. And let me let's talk about that
9:34
a little bit more, right, which is just and, and, and there's
9:38
something also like huddle that you were mentioning that, you
9:41
know, again, I'm I come from a different perspective, right,
9:45
which is I, I, I believe that Bitcoin is for everyone.
9:48
But realistically, I think, you know, we're going to get to a
9:51
point where the fees on chain are going to be so expensive to
10:00
a point that I think the majority of people that use
10:04
Bitcoin in the future are actually going to be using it on
10:06
the second and third layers. But I believe right now people
10:11
do have a small window where, you know, they can get into
10:16
Bitcoin and accumulate enough Bitcoin where in the future,
10:20
even with the increase in fees, they'll be able to transact
10:25
using the using the main chain. So, but I think it is like kind
10:29
of like an exclusive message in a way, basically saying that,
10:33
you know, your messaging isn't for everyone like you, you
10:39
double down on that and you just say, you know what, like this is
10:42
just my audience who I'm talking to.
10:44
I'm talking to a relatively wealthier, older individual that
10:48
has time to, has had time to accumulate wealth.
10:52
You know, they're diversified, whether it's in equities or in
10:55
real estate, and you're advising them to transfer some of that
10:58
wealth into Bitcoin. That's your target audience.
11:01
That's what you're saying. Yeah, look, at the end of the
11:04
day, Bitcoin is for everyone. This is the first time we've got
11:07
an asset that a multi billionaire like Michael Saylor
11:10
or you know, a multi 100 millionaire or a multi deca
11:14
millionaire or a multi single digit millionaire or someone
11:18
who's worth a few, a few 100,000 or someone who's worth, you
11:21
know, a few thousand or someone who's absolutely broke can buy
11:25
the exact same asset at the same cost.
11:28
This is the first time in human history that we've ever
11:30
experienced that I'm not, you know, ignoring that absolute
11:35
magic about Bitcoin. The the fact that Michael Sayler
11:38
can buy Bitcoin at the same price that I buy Bitcoin and I
11:41
buy Bitcoin maybe 1% of a difference compared to what
11:46
Michael Sayler gets in terms of transaction fees because of the
11:48
volume of purchasing is unbelievable.
11:51
That doesn't happen in real estate.
11:52
That doesn't happen in equities. It doesn't happen in any other
11:55
market. This is the first.
11:56
It doesn't happen in gold. In gold, people who are people
12:00
who are poorer are forced to pay up to 40% premiums on their
12:04
gold. And I was in the gold industry,
12:06
right? So I know how I know how this
12:07
works. They're, they're being for if
12:09
you buy a gram of gold versus an ounce of gold, the premiums on
12:13
the gram of gold are unbelievable.
12:15
These people are paying 40. It's like handing over $100 bill
12:19
and getting back $60 worth of gold, which means that gold has
12:22
to go up $40 per gram before you break even.
12:26
That's the trap that normally poorer people are placed into,
12:30
but now you can do that with Bitcoin.
12:33
Now, saying that while I appreciate that my specific
12:37
message and the audience that I'm speaking to are the people
12:40
like my parents and that's who I choose to focus on, but that
12:42
doesn't mean Bitcoin's not for everyone.
12:45
Yeah, absolutely, absolutely. And OK, I hear you.
12:49
I hear you. All right, So let's talk about
12:51
that because you're talking about essentially how difficult
12:55
it, it would be for gold to essentially double or triple
12:58
from its current market cap, not to mention the fact that gold
13:02
has a baked in inflation, right? I think it's about roughly, I
13:05
think 2 or 3%. And bitcoins inflation rate is
13:09
destined to essentially go down to zero.
13:11
I believe right now it's at 1.42% or 1.43%.
13:16
So let's talk about that, right? Because one of the main themes
13:20
this cycle is the idea of diminishing returns.
13:23
Now I have my own perspective on this.
13:26
I think a lot of people have PTSD from the prior cycle and I
13:30
think the prior cycle was heavily affected by the China
13:33
mining ban that literally happened in the middle of the
13:37
run up last time. And you literally see the hash
13:40
rate falling off a Cliff, the price following, obviously,
13:44
because all those miners had to sell Bitcoin in order to
13:46
relocate to more favourable jurisdictions.
13:49
I don't think that's going to be the case this time as most of
13:52
Bitcoin mining is, is is located in a very more friendly
13:56
jurisdiction. Of course, I'm talking about the
13:58
state of Texas. A big portion of Bitcoin mining
14:00
is located there. And it's the, the central, the,
14:03
the hash rate is, is more decentralized that it was back
14:07
then. So my question to you is, what
14:10
would you say about people talking about this, this whole
14:13
aspects of diminishing returns, right?
14:15
So, you know, a lot of people are saying, you know, bitcoins
14:17
going to top out at 100K, you know, 120K Max this cycle.
14:22
Personally, I'm a little bit more biased, but I, I, I do see
14:26
that's the general consensus. This trend, just like last
14:30
cycle, the general trend was, oh, we're going to break 100K
14:35
guaranteed and we only peaked out at I think it was like
14:38
69,000 or something like that. So what would, what's your take?
14:41
What's your opinion on the whole diminishing returns
14:45
conversation? Yeah.
14:46
Look, there's one, you know, quote, UN quote model that has
14:50
been great gaining traction on the idea of diminishing returns.
14:53
And before I have to grab the spaghetti, one thing I will say.
14:58
Where is the spaghetti British huddle?
14:59
Where is it I? Can get, I can get the spaghetti
15:01
if you want me to, but I don't want to be insulting.
15:03
So we'll, we'll leave that for, for, for uncle, Uncle Giuseppe.
15:08
But look, the point is this. Everyone can come up with their
15:13
ideas about diminishing returns or not or or whatever else.
15:17
Just think about this logically. Forget whoever's right, forget
15:21
how many math degrees someone has.
15:23
Let's just simplify this to the bare bones.
15:26
You have an asset that has a 21 million Bitcoin cap.
15:32
That's it. The thing that's buying it, the
15:36
thing that's trying to escape energy from one thing to to into
15:40
this thing that's absolutely limited is completely unlimited.
15:44
There is an unlimited amount of Fiat money in the world, right?
15:48
Just because just right now they've they've they've, they've
15:51
multiplied the amount of money that they've created through
15:54
derivatives and everything else. There were $900 trillion U.S.
15:58
dollar empire, right? There is an unlimited amount of
16:01
money in the world. And then when you take into
16:03
account the studies that Bank of America and all these other
16:05
people have done on the supply dynamics of Bitcoin, that when
16:09
things start getting tight, the multiplier effect, the bull
16:14
market multiplier effect, as Bank of America put out last
16:17
time, is $118 to one, which has never ever been seen on any
16:21
other asset humanity has ever seen before.
16:24
To put that into what I mean by that is for every 118, for every
16:27
dollar that goes into Bitcoin, the market cap goes up by 118
16:31
dollars because of the supply dynamics.
16:33
It's like, it's like, let's say I got this cigar lighter, right?
16:38
This cigar lighter. There's ten of these cigar
16:40
lighters, but the true market price of this cigar lighter is
16:43
not based on the full 10 because eight people are never going to
16:46
sell it. So it's based on the two.
16:48
It's based on how much money is chasing the two remaining
16:51
lighters. That's the issue with Bitcoin.
16:53
You can't just create more out of thin air like you can do with
16:56
real estate. You can't just create more
16:57
unicorns by by creating venture capital incentives.
17:01
You can't just create more gold by digging more gold out of the
17:04
ground. And now you've got people like
17:05
BlackRock. Black Rocks I think has had one
17:08
day of net outflows from their ETF since inception in January.
17:15
Every single time the market goes down, they buy.
17:17
Yesterday they bought 3 1/2 thousand coins.
17:20
The day before that they bought 4000 coins.
17:22
This is a behemoth that has come into this game and I've been
17:27
shouting about this for a year on my YouTube channel that
17:30
BlackRock is coming for everything.
17:32
They want all the coins because that's the only way in a
17:35
monetary network that you can actually control the network.
17:39
You have to control it by owning as by owning a lot of it.
17:42
That doesn't mean they can screw around with the network, but in
17:44
order to have influence, in order to have power in this new
17:46
emerging world, you want to own as much of it as possible.
17:49
It's like the first person that discovered that property could
17:52
be built on top of land. Their main goal should be to
17:55
acquire as much land as as possible because that property
17:58
is going to be built on top of it.
17:59
So not only do you have the Bank of America multiple, which is
18:03
getting tighter and tighter as people like BlackRock and
18:06
everyone else keeps buying these assets.
18:08
And another thing I've been shouting about for a year is
18:10
that there will be a rotation of owners.
18:13
And that's what's going on this year. 2024 will be known as the
18:16
year where the Bitcoin owners rotated from the lettuce hands
18:21
to the diamond hands. And the diamond hands.
18:24
We all thought we knew what diamond hands were.
18:26
The real diamond hands are the ones that are in the BlackRock
18:29
ETF, are in the Fidelity TETF, are in all these institutional
18:33
funds because they never, ever need to sell.
18:36
They already got the yacht, they already got the two houses.
18:38
The kids have already been to school.
18:40
They already got enough money to do whatever else they want to
18:43
do. They have to own this to protect
18:45
the wealth that they've already accumulated.
18:47
And now they're here. That's the real diamond hands.
18:50
Those are the BlackRock boys are the real diamond hands.
18:53
And they're going to come here to try and take as much Bitcoin
18:55
as possible. And every time the Bitcoin price
18:58
slides, they're going to buy Bitcoin and they're never, ever
19:00
going to going to let it go. And that's going to cause the
19:02
multiplier effect to tighten up. And the price is just going to
19:05
continue going up and up and up. So as far as anyone believing in
19:08
diminishing returns go, maybe. But there will be a cycle where
19:12
those diminishing returns, the idea of diminishing returns gets
19:16
completely turned on its head simply because of the supply
19:20
cap. There is a supply cap and
19:22
there's an unlimited amount of Fiat money and that will cause a
19:25
squeeze at some point. I absolutely love that man.
19:28
That's a great description. Now going back to the, the
19:32
BlackRock conversation, right? How much did that change the
19:36
game when BlackRock entered, you know, and I, I, I truly believe
19:40
they, they definitely influence. You see the way that Gary
19:43
Gensler reacted to it and current administration isn't,
19:46
isn't exactly the friendliest towards the industry, you know,
19:50
and of course, BlackRock has this tremendous amount of
19:52
influence, political influence. And you could see that they
19:56
essentially forced the acceptance of the ETF.
20:01
And what I would say is like, what is the significance of
20:04
that? Like what is the significance of
20:06
BlackRock putting essentially the stamp of approval on Bitcoin
20:11
as an asset? And you see Larry Fink going on
20:14
the legacy financial media and he's using a lot of the vocab, a
20:18
lot of the vocab that US Bitcoiners use on Bitcoin
20:21
Twitter and Bitcoin shows as well.
20:23
What was the? Significance of that huddle?
20:26
How did that change the game? Yeah.
20:28
Look, a lot of people don't realize, right?
20:30
A lot of people in retail finance don't understand how big
20:32
the institutional financial world is.
20:34
The top 500 asset managers in the world could control $150
20:38
trillion of assets. To put that into perspective,
20:41
around 20% of the volume on the US markets is retail, right?
20:45
So 80% is institutional. All of those 500 asset managers
20:49
and every single person that works in every single office of
20:52
each one of those financial of asset managers takes direction
20:57
from BlackRock. So for, for the fact that Larry
20:59
Fink is out here saying Bitcoin is a flight to quality, we're
21:03
seeing people, you know, move towards a one to 3% allocation,
21:06
etcetera, etcetera. This is this is where the world
21:09
is going. It's the the 2nd that BlackRock
21:12
filed that application. If you want to go back and look
21:14
at the history on my YouTube channel, the second they filed
21:17
that I started screaming this is happening because I think they
21:20
they had about 566 or 567. I can't remember the exact
21:26
number. But just to put this into
21:27
context, let's say they had 567 applications for an ETF.
21:33
There was only one denied and the one that was denied.
21:36
The entire industry was denied and no one ever applied for an
21:38
ETF ever again. So they've got a pretty solid
21:41
track record on things happening.
21:43
So as soon as they applied and knew it was happening, right?
21:46
And by the way, the ETF was my main, main goal when I first
21:49
understood Bitcoin because I thought it was a scam right from
21:52
the start, right? I thought this whole thing was a
21:54
scam. It doesn't make any sense.
21:55
I'm in gold, etcetera, etcetera. And then one time I was
21:59
listening to the Bitcoin standard and he mentions the
22:02
idea of stock to flow. And with my gold experience, the
22:05
moment he said stock to flow, I don't mean the price model or
22:08
anything like that, just the idea of stock to flow, it was
22:11
like the matrix just opened up for me.
22:12
I could finally understand what was going on here.
22:14
And I realized I was looking at Bitcoin like an equity when I
22:17
shouldn't have, when I should have been looking at it like a
22:20
commodity. And the moment that happened,
22:22
everything sort of made sense for me.
22:23
And I bought my first Bitcoin walking from where I heard where
22:27
I heard that, that that message to home.
22:29
I'd already owned my first Bitcoin because it was like the
22:32
light bulb just went on. But the point is this, BlackRock
22:37
is the difference maker. BlackRock is the thing that's
22:41
going to open the floodgates. BlackRock wrote a letter to all
22:44
of their companies that they invest in, by the way, they own
22:46
every single piece of every single company in the world,
22:49
pretty much. They wrote a letter to them and
22:51
they said, right, you now have to start caring about the
22:54
weather, right? And guess what?
22:57
Every company in the world started caring about the
22:59
weather. So guess what happens in the
23:01
next letter when they say you now have to start caring about
23:04
the environment and the only way you care about the environment
23:06
is to support Bitcoin mining. Every company in the world
23:10
starts caring about Bitcoin mining.
23:11
What happens when Black Rock says in order for you to care
23:14
about the environment now, you now need to own some Bitcoin on
23:17
your treasury? Every company in the world
23:19
starts owning Bitcoin on their treasury.
23:22
This is the power of BlackRock, that they understand how to move
23:25
capital to get things done in the world.
23:27
In addition to that, Larry Fink has a very, very long history of
23:31
taking assets that were like Bitcoin were just properties,
23:35
securitizing them and building debt markets on top of them like
23:38
you did with mortgage-backed securities in the 70s.
23:41
So this is all coming. The game plan is very clear.
23:43
In fact, when they said that, I said we're three months away
23:46
from a major publication saying that Bitcoin is now good for the
23:50
environment. Three weeks after they did that,
23:53
KPMG put out the report saying Bitcoin may be good for the
23:56
environment because this is how the game works.
23:59
They knew they were going to do this.
24:00
They knew it in 20, 2018. They knew it in 2021 and of
24:04
course when they filed, they knew exactly they were ready to
24:06
go. So that's who you're competing
24:08
with at this point. You're no longer competing with
24:10
the morons on Twitter, right? You're no longer competing with
24:13
the people like me and Nico shouting at you to get Bitcoin.
24:16
You're competing with the people that are going to ring their
24:18
multi billion dollar clients up and say, hey, Larry wants you to
24:21
get a one to 3% allocation in Bitcoin and they're going to
24:24
say, OK, that's the end of the conversation.
24:27
That's who we're competing with. And that's how important and
24:31
revolutionary and and impactful Black Rock has been to Bitcoin.
24:35
Yeah, absolutely. I just want to emphasize YouTube
24:37
when he says more on, of course he's he's referring.
24:40
He's he's saying it metaphorically, I'm talking.
24:42
About. Myself too, so but OK, so yes, I
24:46
completely agree. I don't think it's a coincidence
24:49
that when the when the they just dropped the whole ESG thing,
24:55
which is just hilarious. No, Bitcoin is.
24:58
Bitcoin is ESG 2.0. I guarantee you that Bitcoin is
25:02
ESG 2.0. Mark my words.
25:04
Within the next half a decade to a decade, Bitcoin will become
25:08
ESG 2.0 guaranteed. So and I, I kind of want to
25:12
focus on an aspect, right? It was just you.
25:15
Your focus was on BlackRock. BlackRock entering the game.
25:18
I completely agree with you. It was extremely influential,
25:21
especially from the institutional aspect, right?
25:23
You had Goldman Sachs that came out recently that they have
25:27
exposure to Bitcoin via the ETF multiple banks, I believe it is
25:32
Wells Fargo. You have the Wisconsin pension
25:34
fund, the second largest bank in in Europe, PNB Perabias.
25:39
Forgive me for the there you go. Forgive me for the
25:42
pronunciation. So you have and and that's just
25:45
the name of fuse. So you definitely have major
25:46
exposure from these traditional financial institutions and
25:51
they're all going through BlackRock.
25:53
Now, from a Bitcoiners perspective, and I understand
25:56
British Huddle, you, you, you don't take this angle, but we do
25:59
here at simply Bitcoin because we're we're focusing on Bitcoin
26:03
more so from the revolutionary aspect, the separation of money
26:05
and state. What would be your opinion on
26:08
the centralization of this amount of Bitcoin in custody?
26:13
So not only is coin, not only is BlackRock using Coinbase as a
26:19
custodian, but actually eight out of the 9 ETFs that were
26:23
approved are using Coinbase as well.
26:26
I think the only one that isn't is Fidelity.
26:29
So and and of course, you know, if you take a look at American
26:32
history back in the late 1920s, early 1930s, you have the
26:36
infamous six one O 2 order that of course, you know, all
26:40
Bitcoiners know this. And you had essentially the
26:43
seizure of gold, you know, by the US government basically
26:47
making it illegal for Americans to hold gold.
26:49
And then Americans were given, you know, paper instead.
26:51
Fort Knox was built for this for for this entire region, for this
26:55
entire purpose. What would be your response to
26:58
that? Like in the way that I'm seeing
27:00
it from a Bitcoiners perspective is like this is a giant honeypot
27:04
potentially for future governments to potentially
27:07
seize, especially if they find themselves in a pickle.
27:11
Yeah. The good news about America is
27:13
that it's all, it's not run by the government, right?
27:15
Anyone thinks America's run by the president should have
27:17
learned by now in the last six months that it that it clearly
27:21
isn't. So America is run by its
27:25
financial markets. And the one thing that you don't
27:28
see happen in America is asset seizures.
27:32
The gold thing, Yes, it happened.
27:34
However, what you've got to realize is only 12, only about
27:37
12% of the gold was actually handed over to the government,
27:40
right? So am I worried about that?
27:42
No, I think it would be. I think it would.
27:46
You would have to get to literally the end of the world
27:49
before America decided to seize Bitcoin or seize any assets from
27:55
an exchange traded fund. That is, that is the foundation
28:00
of America. America is its capital markets
28:02
And so I don't think that happens.
28:04
However, I will say if you're very, very comfortable with self
28:07
custody, that's the first route that you should take.
28:09
I think that everyone should have an element of a mixture,
28:13
right? I, that's, that's my, that's my
28:15
standard, standard thinking. I think everyone should have a
28:17
mixture. Everyone should have a certain
28:19
percentage in self custody that you completely control.
28:22
And then maybe a certain percentage or in a retirement
28:25
account or whatever else in an ETF.
28:27
And as far as the ETF's all using Coinbase, that is A cause
28:30
of concern. And So what I do is I have my
28:33
GB, I split up my GBTC position into the IBIT fund, which is
28:37
BlackRock and FBTC, which is Fidelity.
28:40
I would split up your ownership of the ETF based on the
28:44
custodian, not on the company that's promoting the ETF.
28:47
And so that's what I decided to do.
28:48
My GBTC positions got evenly split between IBIT and FBTC and
28:54
of course myself. Custody Bitcoin is secured by
28:57
multi sig in three different jurisdictions.
29:00
Yeah. And I, I think that's the way to
29:01
do it. I, I, I completely agree.
29:02
As a Bitcoiner, you have to leverage multi sig.
29:05
And yes, if you do geographically separate your
29:09
seeds, you put yourself in a you essentially become a sovereign,
29:13
sovereign individual. Really.
29:15
So, yeah. So let me kind of go back to
29:19
this, this idea of mixture, which I would say is is
29:22
unpopular with certain Bitcoiners, but I would say is
29:27
more popular with the older generation, specifically high
29:31
net worth individuals that are kind of like in the boomer,
29:35
boomer Gen. X generation.
29:37
I would say if you're younger, I younger people in general go
29:42
down the full self custody aspect like myself because we
29:46
see it from a different perspective.
29:48
I think the older generation sees it more from an investing
29:51
perspective rather than the younger generation where they
29:54
kind of see it a little bit more from a revolutionary
29:56
perspective. So I kind of want to talk about
29:58
that a little bit. And I know that this is
30:00
something that perhaps you don't cover a lot about on your show.
30:03
What do you think about the idea of the separation of money and
30:06
state? Because I think a lot of the
30:09
hurt that people are going through, specifically the
30:12
younger generations, is literally caused by the
30:17
government's ability to just create money out of thin air.
30:20
And as you know, British Huddle, anyone who owns assets gets
30:24
wealthier on paper, not actually wealthier purchasing power
30:28
terms. And anyone who doesn't own
30:30
assets, they save and earn in Fiat.
30:32
Like they just get absolutely demolished.
30:36
And this is one of the reasons that Bitcoin was created.
30:38
It's in the genesis block, right?
30:40
Chancellor on the brink of the 2nd bailout for banks.
30:43
So what do you think about the peaceful revolution, the
30:46
separation of money and state? British Huddle.
30:49
I think it's absolutely essential.
30:50
I think that you have to have the perspective that, yeah, I
30:55
can't trust the system 100%. I think it's absolutely.
30:58
That's why I said I have a percentage of my Bitcoin in self
31:01
custody in three different jurisdictions and then I have
31:04
some in the system. Now, why do I have it in the
31:07
system? Because there's going to be
31:08
things that show up that are advantageous to have Bitcoin in
31:12
the system. For example, if you want to go
31:14
and take a loan against your Bitcoin and you've got, you
31:17
know, self custody Bitcoin, you're going to have to pay an
31:20
interest rate that's orders of magnitudes above what you can
31:23
borrow, borrow against on an ETF.
31:25
You'll be able to borrow against an ETF at 50 basis points higher
31:28
than Fed rates, whereas you're going to have to probably pay,
31:32
you know, 10% above Fed rates just to get a loan against your
31:37
Bitcoin. So it depends what you want to
31:38
do with that, right? The other advantage is once you
31:41
have the ETF, experienced investors will understand a
31:44
simple covered call strategy, which means that now every
31:47
Bitcoin that you own through an ETF turns into an income
31:49
generating asset. And then every four years that
31:52
income compounds because the price goes up, but the
31:55
percentages stay the same. So now let's say you got
31:57
$1,000,000 a Bitcoin, you're making 1% a month.
32:00
You're now known, you know, in four years you're, you're,
32:03
you're $10,000 a month goes up to $40,000 a month.
32:06
And that's going to be very attractive to a certain type of
32:09
investor, not saying to everyone, but to a certain type
32:12
of investor. So all these things are coming
32:14
down the line for Bitcoin. And I think that the smartest
32:16
thing to do is have exposure to everything so that you can take
32:19
advantage of everything. I don't.
32:20
And if, if what you feel comfortable with is pure self
32:23
custody and selling off a little bit of your Bitcoin every month
32:26
to live on, if you don't have a job or you plan to retire or
32:29
whatever else, that's your prerogative.
32:31
But for me, I think with the skills that I have, with the 18
32:34
years of, of investing experience that I have and, and
32:37
the work that I've done and the people that I've worked with and
32:39
the lessons that I've learned and everything else, I think for
32:42
me, it's advantageous to have a vehicle that allows me to
32:46
generate a cash flow on a monthly basis, allows me to take
32:49
loans, you know, very, very cheaply.
32:52
Because if I can take a loan at 3% and you're taking a loan at
32:55
15%, I'm five times ahead of you.
32:57
And that's just the bottom line, right?
32:59
Everything comes down to your competitiveness at the end of
33:02
the day. So, you know, I think there's
33:03
going to be this transitionary period.
33:05
And in that transitionary period, people that have
33:07
exposure to a little bit of the Bitcoin quote, UN quote in the
33:11
system are going to do much better off.
33:14
And so that's what I choose to take advantage of.
33:17
Yeah. And I want to talk a bit a
33:18
little bit about that, right, which is, and this is actually
33:21
something that I've heard sailors say in the past, which
33:25
is this idea that in the future you won't have to sell your
33:30
Bitcoin. You'll you can borrow against
33:32
it. Now I'm going to say this with a
33:33
giant caveat to everybody. Be careful when you take loans
33:39
and you use Bitcoin as collateral because Bitcoin is
33:42
extremely volatile and you will get margin called at one point.
33:47
So I think if you, if you approach it with a tremendous
33:51
amount of responsibility and a very small percentage of your
33:55
stack potentially could be beneficial.
33:57
But I think that there's going to be more offerings in the
34:00
future huddle in terms of people leveraging their Bitcoin without
34:06
really having, having to sell it and being able to get cash out
34:10
of it in the process. I love the products that are
34:14
currently offered. The interest rates are quite
34:17
high, but I I think that has to do more so with with with the
34:20
Fed I. Think, I think it's to do with
34:24
insurance, right? I don't know how you insure.
34:26
I don't know how you insure a self custody product to the
34:29
point where you can get, you know, interest rates at 50 basis
34:32
points plus fed plus 50 basis points.
34:35
I just it doesn't the maths doesn't work out in order for
34:38
you to do that. It will always be more expensive
34:41
if it's a self custody product right?
34:43
It's the same thing your insurance premiums are always
34:46
higher on. Things well, but but hold on,
34:48
it's not exactly full self custody.
34:51
The way that Unchained and Lend I believe do it is they'll do a
34:56
collaborative custody where the client has one key, Unchained,
35:01
Lend has one key and then. Anyway, I agree with you.
35:06
But they. That's my it's not even self
35:09
custody anyway, right? So then why don't you take
35:11
advantage? Experienced investors are going
35:13
to look at that and go, well, I don't even have custody of my
35:16
asset anyway, so I might as well use the best interest rate
35:19
product. Why do you think all these
35:20
companies are struggling? I said this a year.
35:22
No, no, no. But wait, wait, wait, wait.
35:24
Hold on. The downside of that is the
35:25
rehypothecation risk though, right?
35:28
Like that's why people are willing to pay the premium.
35:30
Well, what with with an ETF, what's the what's the
35:32
rehypothecation risk? OK.
35:34
So could you so explain that right?
35:37
So in with an ETF, how would you leverage your position in having
35:41
exposure to a Bitcoin ETF to can you borrow against your
35:46
position? Yeah.
35:47
So you borrow against your ETF shares, right?
35:50
But the actual ETF has to own the underlying asset.
35:54
So a lot of people have this delusion around how an ETF
35:56
works. And what they're really getting
35:57
confused with is futures. Futures are completely different
36:01
to an ETF. An ETF is one of the best
36:03
products out there for a quote UN quote synthetic ownership or
36:06
synthetic control of an asset in that in essence, as soon as the
36:10
ETF turns into, you know, an in kind product, which it will at
36:15
some point, you'll be able to call BlackRock up and say I want
36:18
my Bitcoin and they'll be able to deliver it to you.
36:21
So the rehypothecation risk is so overblown when it comes to
36:25
ETFs. A lot of people talk about that
36:26
with the gold ETF and this that and the other and, and, and it's
36:29
really not that much. It's not a problem.
36:32
The the issue comes with the futures.
36:34
The futures is where all the manipulation happens.
36:36
The futures is where all these people start causing issues with
36:39
price action and movement and this, that and the other.
36:42
So an ETF is a is a revolution on, on investing.
36:45
It is a revolutionary product when it comes to investing for
36:49
trad 5 markets. That doesn't mean, you know, you
36:51
shouldn't be skeptical of of trying to find markets.
36:54
I'm not saying that. But to lie about what an ETF is
36:58
and how it works and the rehypothecation risks and all
37:00
this other stuff that that's, that's a bit, you know, a little
37:05
bit hyperbolic, let's say. OK.
37:07
So let's talk a little bit about the the ETF, right, because
37:10
obviously you're a fan of it, you know, you have figured out
37:13
ways to leverage the ETF to your advantage.
37:17
Question for you. So I've had Caitlin Long and Ley
37:22
Lappard on my show in the past and it's funny because I had two
37:27
episodes, one with James Lavish and Greg Foss.
37:31
By the way, we miss you Fosse, please come back.
37:35
And I had another episode with Caitlin Long and Ley Lappard.
37:39
And it's funny because both both parties had different takes on
37:44
this. Larry Leppard and Caitlin Long
37:47
came from the came from the camp of the potential re
37:51
hypothecation risks with the introduction of an ETF and the
37:56
potential downward sell pressure because of the sale of paper
38:02
Bitcoin. And a lot of people and you have
38:05
experience in the gold markets British huddle.
38:07
So a lot of people speculate that in gold, this is how they
38:11
suppress the price of gold, right?
38:12
This idea of re hypothecation, do you not believe that that
38:17
could be, you know that could potentially be a risk in in
38:20
Bitcoin? I think that, you know, there's
38:22
always going to be shorting in the markets, right?
38:24
And the, and the issue is, is that futures have always been
38:27
around. You've always been able to short
38:29
Bitcoin by the futures markets. And so you know, is that a risk?
38:34
Sure. Is that more of a risk?
38:36
Hold on. I just, I just want to like
38:39
clarify for the audience, what does futures have to do with
38:42
rehypothecation? Well.
38:43
The point I'm trying to make is that a lot of people can try and
38:46
confuse and convolute these two things, but they're two separate
38:49
products, right? Re hypothecation can happen on
38:52
both sides of the market, but a futures product and an ETF
38:55
product are completely different, you know?
38:57
And by the way, if you look at the biggest, baddest lawsuit
39:01
that happened against JP Morgan for the gold and silver markets,
39:07
what you find is that really the only manipulation that they were
39:10
doing was quote UN quote spoofing.
39:12
Now what that is spoofing is let's say the gold price is
39:15
$1500 and they put a bunch of sell orders in there at 1400
39:19
dollars and as the price comes down from 1500 to 1400, they
39:23
withdraw their orders from the market.
39:25
That's called spoofing the market.
39:27
That was it. They have never found an immense
39:31
amount of manipulation like the gold salespeople want to tell
39:33
you. It's never happened.
39:34
I was in the gold space and I like this is this has been my
39:38
this has been my world for a number of years.
39:40
So the, and I'm again, I will, I will reiterate what I'm saying
39:46
does not mean that you have to trust the trade fry markets and
39:50
the self custody is the primary option for most people.
39:53
However, you have to be careful about what you believe and what
39:57
you see versus what has been proven.
40:00
And so that's that's my perspective on it.
40:01
I'm not that concerned by it. I'm not that I'm not concerned
40:04
that BlackRock, the biggest asset manager in the entire
40:07
world, is going to blow up one of their products because
40:09
they've got a reputation to protect.
40:11
I'm more comfortable with BlackRock than I am with block
40:14
fry, Celsius or any other quote UN quote, Bitcoin or crypto
40:18
company. OK.
40:21
All right. So what about what's your take
40:23
on the so right now? And I think I saw a graphic from
40:28
River Financial where they really kind of laid it out.
40:31
And one of the unique things about Bitcoin, I think you were
40:34
mentioning this earlier, is the fact that the vast majority of
40:38
supply, and this is due to Bitcoins essentially Immaculate
40:41
Conception and it really being a grassroots movement,
40:44
specifically in the beginning, the vast majority of its supply,
40:48
about 11,000,000 Bitcoin are still held by individuals.
40:51
So now we're starting to see institutions come in.
40:54
Of course. I think BlackRock holds about
40:55
350,000 plus or so, give or take.
41:00
Michael Saylor holds about 200 and 200 and 2200 and 10,000,
41:06
give or take. Haven't seen the latest numbers,
41:10
but what would your perspective be?
41:12
Because I I think that it's a good thing that the vast
41:15
majority of the supply is held by individuals and is not held
41:19
by government. It's not held by large
41:22
institutions like BlackRock. It's not held by public
41:25
companies. Me too.
41:27
I I completely agree with you. I think that's that's the way
41:29
that it should be and I hope that that's the way that it
41:31
stays. And I would warn that these
41:33
companies are going to create incentives to inspire people to
41:36
put their Bitcoin into their products.
41:39
I guarantee you that MicroStrategy is being spoken to
41:42
by BlackRock to create incentives for MicroStrategy to
41:45
put their Bitcoin into the BlackRock product as soon as it
41:49
becomes an in kind product. I guarantee that's happening.
41:52
But I agree with you, I think it's much better if real people
41:55
hold their actual Bitcoin versus putting it into putting it all
41:59
into institutional hands. But that won't stop them trying
42:02
to create incentives to to pull the Bitcoin into the funds.
42:06
So it just is what it is, right? That's what's going to happen.
42:09
Do I think that's what should happen or it doesn't matter?
42:12
What I think doesn't matter. This is what is going to happen
42:15
based on how this game is played.
42:16
Either you can accept that that's how the game is played
42:19
and try and fight it, or you're just going to sit there, shout
42:22
at the wind and you know it's going to come back and hit you
42:25
in the face. Like it just, it just is what it
42:27
is. That's how the game is played.
42:29
Yeah, of course. And YouTube when he says hit you
42:31
in the face, it's metaphorical of course.
42:34
But I, I, I do want to, I do want to talk about the, some of
42:40
the ideas that we were talking about earlier, which is this
42:43
idea of one Bitcoin. It has become your tagline.
42:46
It's like me, I say Bitcoin or slavery.
42:48
British huddle says get to one Bitcoin.
42:50
What's the rest of the thing that you say?
42:51
It's hilarious. Listen, there's only three rules
42:54
to Bitcoin. There we go.
42:56
Yes, you. Want me to go through that?
42:58
Yes, of course. Hit it, man.
42:59
So. Look, there's only three rules
43:01
to Bitcoin. Tame, Tame it.
43:02
Tame it a little bit. Tame it a little bit.
43:05
Step number one, you buy Bitcoin, step #2 shut the hell
43:08
up and step #3 you get fabulously wealthy.
43:11
It doesn't sound so good when you say shut the hell up instead
43:13
of what it's meant to be, right? Yeah, no, of course it doesn't
43:18
sound that the other one has more punch for sure.
43:22
So, OK, so let's talk about that, right.
43:24
So I think a lot of the a lot of people right now, I think you
43:31
know, kind of a little bit bored, the markets going
43:33
sideways, we're chopping. I've been saying on the show for
43:36
a long time now, if you're selling right now, you're
43:38
selling to either a nation state or BlackRock.
43:41
Don't do that. Definitely, you know, don't sell
43:44
your sats. Hold on to them for as long as
43:46
you can. But I think a lot of people are
43:49
anticipating a crazy 2025 S for someone who has reached that one
43:55
goal that that goal of, of of of whole coiner status.
43:59
Or perhaps they're, you know, they've reached the goal of of
44:02
half a coin status. What are what should they be
44:06
expecting in 2025? And without naming any names, I
44:11
think some people are even advocating for potentially
44:14
selling when they believe that we reach a top in 2025.
44:20
What would you say to that? I'll go grab my spaghetti right
44:24
now. I know without mentioning any
44:26
names, everyone know who the hell we're talking about right
44:28
So look, I think 2024 I think we're sideways until the
44:35
election. I think that that's the.
44:38
Why? Why are we sideways till the
44:40
election? Every every look, every country
44:44
has a circus, right? And now we have the biggest,
44:47
baddest circus in town, and that's the American politics.
44:50
We had the British politics, French politics, and now we've
44:53
got the American politics, which is the biggest circus that you
44:56
can find, right? And it's in town.
44:58
And what that means is everyone's emotions are going to
45:00
get drummed up. Right now.
45:02
The based on the historical 30 year average of how much cash is
45:06
on the sidelines, we're double that right now.
45:09
There's double the amount of cash on the sidelines than the
45:12
30 year average in markets. And So what that means is that
45:16
everyone just doesn't know what the hell to do because nobody
45:18
knows what's going to happen. And that's the job of the
45:20
politicians. The politicians are designed,
45:24
they're their whole demeanor is to scare you, is to be there, to
45:28
cause fear, to drive you to the polls, etcetera, etcetera.
45:32
And when that's going on, nobody wants to invest because you
45:35
don't know which way the market is going to go is, are we going
45:37
to get a right leaning person? Are we going to get a
45:39
left-leaning person? What's the policy is going to be
45:41
for the markets, etcetera, etcetera.
45:43
So after the election certainty comes back and certainty drives
45:47
investment. So that's what that's what I'm
45:49
waiting for. I think that's the safest mind
45:51
state to be in sideways until November.
45:55
Saying that what is happening right now in the underbelly of
45:58
the market is that there is a rotation happening of owners.
46:01
And I've been shouting about this for a year.
46:03
As soon as these ETFs come out, the owners that think they're
46:06
trading, that think they're holding, that think they were
46:08
diamond hands, that think they want to take some money off the
46:10
table, they're going to give up their Bitcoin and it's going to
46:13
get sucked up by people that are the real diamond hands that
46:16
never ever need to sell their assets.
46:18
And that's what's going on right now.
46:20
That's 2024-2025. I think we're going to, it's
46:23
going to get weird right in 2025.
46:25
You're going to start seeing Morgan Stanley is obviously, you
46:28
know, their advisors are now selling.
46:31
I think it's like 15,000 advisors are calling people
46:34
actively to sell Bitcoin. I think by the end of the year
46:37
that goes up to 50,000 people and there's 330,000 financial
46:41
advisors in the USA alone. So 2025 is going to be
46:46
institutional bowls to the wall selling of Bitcoin going on.
46:51
And I and I think that's going to get extremely weird.
46:53
You've seen, you know, in little time periods, little snapshots
46:57
like the ETF couple days ago when we saw the big price run
47:00
up. You know, obviously today we're
47:02
seeing a price rundown. But a few days ago, price run up
47:05
that was caused by around about 250 to $400 million worth of
47:09
purchasing and it added $77 billion to the market cap of
47:13
Bitcoin. That is a 300 to one approximate
47:17
multiplier on the price. Now, what happens once the
47:19
rotation is done and these people stop selling, right?
47:23
What happens once all the selling just turns into holding?
47:26
What happens when the miners don't need to to go to the to go
47:30
to sell their Bitcoin to generate, you know, to generate
47:35
revenues and money to to for their expenses?
47:37
What happens when they don't need to sell?
47:39
So there's a lot that's going to change here.
47:41
And I think 2025 is going to get very, very weird.
47:43
If I was anyone in the year that we went from a year, even I
47:48
right, looking at it going Blackrock's going to come in and
47:50
change the game. Even I didn't think that in the
47:53
space of one year we would go from Bitcoin is for drug dealers
47:57
to a Bitcoin house, a Bitcoin Senate, Bitcoin president, a
48:00
Bitcoin vice president, everyone in the United States going bulls
48:03
to the wall on Bitcoin. Even I didn't expect that.
48:06
I didn't expect the the president of, you know,
48:09
potential president of the most powerful capital markets in the
48:11
world to say that we're going to launch a national strategic
48:14
reserve of Bitcoin, right? So what happens if you decide
48:18
and you listen to these morons? You know these shame.
48:21
Metaphorically. Yeah, yeah.
48:23
They listen to these shame moles that are basically saying, OK,
48:25
you got to, it's got to hit some proverbial line and then I'm
48:29
going to dump my bitcoins so we can multiply our bitcoins, which
48:33
was the tweet that retweeted, right.
48:36
And then suddenly the America starts, you know, its mission of
48:39
buying a million, 2,000,000, three million Bitcoin.
48:42
You're completely finished. So I personally don't think that
48:46
anyone should take that risk. I certainly won't be taking that
48:49
risk. Does that make sense?
48:52
That's. My opinion, it makes absolute
48:54
sense. Do you think the cycle theory is
48:56
still alive and well? We're going to see, I don't
49:00
know, I'm having less and less faith in the cycle theory based
49:04
on America, not anyone else. America's.
49:07
I didn't really think El Salvador was that significant,
49:10
right? I said that a few years ago,
49:12
based on America coming in and starting to try and build a
49:15
strategic reserve. We got the lowest amount of
49:17
Bitcoin on exchanges right now. The other day Binance had to
49:20
send 30,000 Bitcoin from their own personal stash just to
49:24
maintain liquidity levels, right, Based on America coming
49:27
in and saying we're going to buy 123 whatever million Bitcoin for
49:31
America. I don't know.
49:33
I don't know. I'm losing let I'm losing faith
49:36
on cycle theories. I'm losing faith and all that.
49:38
The only thing that seems to make sense is the S curve and as
49:42
a theory, not even as a price model.
49:44
So I don't know what's going to happen.
49:46
All I know is it's going to get weird and you better have
49:48
strapped in by then. Yeah, 100%.
49:51
I, I, I, I agree. And yeah, it's definitely going
49:55
to be not only an interesting Q4, right, which we're about to
50:00
enter in a couple of days, but it's definitely going to be an
50:03
interesting 2025. What's your take on the upcoming
50:09
FOMC meeting? I think we, I think, you know,
50:12
Jerome Powell has basically pivoted the conversation at
50:14
Jackson Hole. I think we've now been on a rate
50:17
hiking cycle for a couple years and now it's time for a rate
50:22
lowering cycle. The way I like to look at the
50:24
Federal Reserve, the analogy that I use is it's like there's
50:28
a plane in the sky and it's flying.
50:30
It has no real destination and a new pilot gets dropped in every
50:34
few years and his job is just basically to keep the thing in
50:36
the air, right? That is what the Federal
50:39
Reserve's doing. And so sometimes it veers
50:41
slightly to the left and then it needs to veer slightly to the
50:43
right. And that's what's going on right
50:45
now. If anyone wants to understand
50:46
what's going to go, what's going to happen with the Federal
50:48
Reserve, all you got to do is watch the US two year chart,
50:51
zoom out to a 40 years, see the trend line and understand that
50:55
that's the that's the trend line that we're following.
50:57
So I think we're going to accelerate over the next, I
51:00
would say 18 months, maybe two years, we're going to accelerate
51:03
down to two to 2.5, two .75%. And then a few years after that,
51:08
we're going to go back down to the trend line of 0.5%.
51:11
Got you. Interesting.
51:13
Interesting. What do you think about the
51:15
current debt situation? James Lash, James Lavish calls
51:18
it the debt spiral. What's what's your opinion on
51:22
that and how could people protect themselves?
51:24
The obvious answer is Bitcoin, but what's your take?
51:28
Yeah, listen, look, there's this one book that I think everyone
51:30
should read and it's called Lords of Easy Money.
51:33
And I think that you should maybe even get Christopher
51:35
Leonard, who wrote the book on the channel to explain what's
51:39
happened. That book summarizes well.
51:41
So I went, I completely screwed up 2008, right?
51:44
I completely didn't understand how the market was going to
51:46
work. It was my first ever quote UN
51:48
quote recession, which was a good training ground for that
51:51
being in right. I completely and utterly messed
51:54
that up in terms of opportunity. It took me 12 years of business
51:57
and preparation and cash flow and everything else to get ready
52:00
for 2020. Soon as 2020 hit 12X my net
52:04
worth based on what I knew was going to happen based on 2008
52:07
and then discovered Bitcoin. So the, the that book summarizes
52:13
everything I learned self analyzing over that 12 year
52:17
period about what happened in 2008 and then what's going to
52:20
happen in the future to put a summary on it.
52:23
They're going to print the shit out of the US dollar, simple as
52:26
that. So if you want to protect
52:28
yourself from that, you need to own hard assets.
52:31
The main way to protect yourself is to own assets that go up in
52:36
price by as much as the inflation that happens to the
52:41
underlying base currency. I had people in 2020 telling me
52:45
that their Morgan Stanley advisors have done a great job
52:47
that year because their portfolios were up 30%.
52:50
And that's a congratulations because they printed 40% of all
52:54
the US dollars in existence. You're actually down.
52:56
You're actually -10% and they couldn't believe what I was
52:59
saying. But that's the reality of it.
53:01
And the only way to do that, the stock market isn't doing that.
53:04
Well, you know, the stock market's not doing that when the
53:06
ultra wealthy are doing private equity.
53:08
The the stock market is exit liquidity for, for, for the
53:12
ultra wealthy. So Bitcoin is the only thing
53:16
that will protect against that because of its supply cap.
53:19
And that's the one thing that you should have some exposure
53:21
to. I'm not here to tell you what
53:23
your exposure should be, but you need to understand this, you
53:26
need to learn this, and you've got a very, very short period of
53:29
time to do this while we're range bound for the next few
53:31
months. So when you talk about and, and
53:34
again, kind of circling it back to just the general, your
53:38
general motto, your catch phrase that, you know, it's basically
53:42
gone viral at this point, the window of opportunity is
53:46
closing. So what do you mean by that
53:49
exactly? And what's at stake if someone
53:52
misses that window? Look, let's say Bitcoin goes to
53:56
$100,000. Let's not, let's not even
53:58
imagine the three, four, $500,000 price point, just
54:01
$100,000. You know how many people have
54:04
just a random $100,000 sitting around to buy, to buy something
54:09
that they don't even understand? It ain't that many people,
54:12
right? They've got property that
54:14
majority of those people are going to be in the 500,000 to
54:17
$30 million net worth range. Those people are primarily in
54:21
real estate. So now to generate $100,000,
54:24
yeah, somebody with a $30 million portfolio might be able
54:27
to do that, but somebody with a $5,000,000 portfolio probably
54:31
needs to sell a house in order to generate that liquidity.
54:34
It's not going to take you three or six months to sell that damn
54:36
thing in order to maintain generate that liquidity.
54:39
And that's for an asset that you're not you just discovered,
54:42
right? No one's going to go through the
54:44
bull lake of doing that. So that's what I'm saying.
54:47
Now is the time. You've got a limited amount of
54:50
time. We've priced out, we've priced
54:52
already priced out the poor. We've already priced out the
54:55
middle class worldwide. We're now pricing out the upper
54:58
middle class worldwide. And soon we're going to price
55:01
out the lower multi millionaire worldwide because a multi
55:05
millionaire who's got a four or $5,000,000 net worth does not
55:08
have two or $300,000 lying around in cash, right?
55:11
Most people don't understand that because they don't they've
55:13
never really touched any wealth. They don't, they don't know that
55:17
somebody who's can be worth 4 or $5,000,000 and not have a
55:20
hundred, a hundred, 150, two, $100,000 in the bank because
55:23
it's in assets. Those are the people that need
55:26
to get their head straight right now because you are walking into
55:29
a mess here. You're going to walk into an
55:31
environment where your property portfolio is not going to keep
55:34
up with the amount of money that's being printed.
55:36
Your stock portfolio is not going to keep up with the amount
55:38
of money that's being printed. The gold is definitely not going
55:42
to keep up with the amount of money that's being printed
55:44
because the supply cap is the most important thing.
55:47
And it's now is the time to understand Bitcoin.
55:50
Whether you execute at this very day or not.
55:53
That's not what I'm here to do. What I'm here to tell you is
55:55
Start learning. Get serious.
55:58
The fact that you got to be one egotistical SOB to say that
56:03
Larry Fink and BlackRock are in this asset on TV talking about
56:07
it, but I don't want to learn about it.
56:09
If that's your mindset, you deserve to be poor.
56:14
Yeah, I mean, oh, that's a very strong statement.
56:17
But let's just say that the the writing is on the wall for you.
56:22
I mean, it, this is something, you know, especially if if
56:25
you've been in Bitcoin for a little bit.
56:27
It's my eighth year at this point.
56:29
And just from personal experience, what I've seen is
56:34
I've, you know, most people I eventually convince, not the
56:39
first year, maybe not the second year, but eventually because of
56:42
NGU technology. NGU technology is beautiful like
56:45
that, right? It humbles everyone eventually
56:48
because they might not believe in the asset at first, but when
56:52
you've been telling someone to buy Bitcoin since it's been
56:55
$1000 and now it's at $59,000, they, they start to tend to
57:00
start listening to you, right? What is that like a 59 X?
57:04
And so yeah, I I I I I completely agree.
57:07
I think that it's it's the window is closing to be a whole
57:11
coiner. I think there's all it's always
57:13
going to be a good idea to buy Bitcoin.
57:15
I think Bitcoin is a superior asset.
57:17
Max Keiser says that everything trends to 0 as it relates to
57:20
Bitcoin. I completely agree with that.
57:22
It is a superior money. But I would say the opportunity,
57:26
right, the opportunity for the opportunity for you to, to
57:33
really benefit right before this thing becomes financially
57:37
mainstream. I, I do believe that window is
57:40
closing. I, I, but on record, I think
57:43
everyone could buy Bitcoin. It's a good opportunity for
57:46
everyone, but for the specific sub sect of people and, and I
57:50
know who you're talking about British huddle.
57:53
Yes, it's it's like the older people, older generation, boomer
57:57
generation, you know, they have the traditional portfolio
58:00
between real estate and equities.
58:02
I don't think they understand how much of A superior asset
58:07
Bitcoin is. And you know, it's hopefully
58:10
they, they, they, they get on the train before it leaves the
58:14
station, so to speak. Anyways, we are getting to the
58:17
top of the hour and I do want to be respectful of your time.
58:19
So I do want to give you the opportunity to leave a last
58:23
message with the audience. Well, look, firstly before I
58:27
talk to the audience, Nico team, everyone, thanks for having me.
58:30
It's been a pleasure. You know, my mom watches your
58:33
watches your channel. So hi, mom, I guess look at the
58:38
end of the day, it's now time to get serious.
58:40
All of this, all of this, you know, BS that we all do, talking
58:43
on Twitter all day, YouTube all day, Everything else is not
58:46
relevant. Your progeny, your children,
58:49
your grandchildren, whoever's carrying your last name 30 years
58:52
from now is not going to care that you were here to watch a
58:55
YouTube video. What they're going to care about
58:57
is how much Bitcoin you have because it is a monetary
59:00
network. It's not a human network.
59:02
So the amount of Bitcoin one owns is the most important
59:05
thing, not the amount of people that are into it.
59:07
So get to one Bitcoin, make that your North Star and if you are
59:11
at there, get to a certain amount that's a percentage of
59:15
your net worth and and and protected at all costs.
59:18
Of course, the primary objective is self custody, but then don't
59:21
be shy to look at these other opportunities that are coming in
59:25
to the world right now as a result of how much progress
59:28
Bitcoin has made into this world.
59:30
The main point is the sharks are now here.
59:33
Pull your head out of your backside.
59:35
If you're sitting there calm, relaxed about this, start
59:38
getting urgent. Start feeling the panic.
59:40
Understand that your time is running out and understand that
59:43
you must get to one Bitcoin. And ultimately, there are always
59:47
only three rules to Bitcoin. Step number one, you buy
59:49
Bitcoin, step #2 you shut the hell up.
59:52
And step #3 you get fabulously wealthy.
59:54
Nico team, thank you so much for having me.
59:55
It's been an honor. Well, British Arnold, thank you
59:57
so much for joining us on Simply Bitcoin IRL.
1:00:01
Really enjoyed this conversation.
1:00:02
Definitely have to get you on the live show.
1:00:04
Man, this has been great. I think that's a very solid
1:00:07
message. And yes, I think everyone should
1:00:10
strive to get to 1 Bitcoin at least.
1:00:14
We've been telling you for many years now to, you know, to, to
1:00:18
definitely stack, right? So yes, I think the window of,
1:00:21
of, of opportunity to becoming a whole coiner is definitely
1:00:25
closing. By the way, it's not only me
1:00:26
saying that, it's not only British huddle saying that.
1:00:29
I think Adam back was saying that too, right?
1:00:31
Like we're reaching the very peak of the amount of people
1:00:33
that are going to be able to afford to become whole coiners.
1:00:36
Six, $59,000 is a lot of money from a liquidity aspect like you
1:00:41
said. Anyways, guys, if you enjoyed
1:00:44
the show, there's about 2071 of you guys watching live between
1:00:47
YouTube and X and about 50 or 60 of you guys watching live on
1:00:51
Rumble. If you guys enjoyed the show,
1:00:52
make sure to smash the like button, share the video and of
1:00:57
course, TuneIn tomorrow to the live show at 12:15 PM Eastern
1:01:00
Standard Time. I'm your host, Nico.
1:01:02
Our guest for today is British Huddle.
1:01:04
British Huddle. Why don't you tell everybody
1:01:06
where they can find you on the interwebs?
1:01:08
Just go to youtube.com, type in British Huddle and you should
1:01:11
see the space pop up. Go to Twitter, type in at
1:01:14
British Huddle or X sorry, type in at British huddle.
1:01:17
You should be able to follow me on there, but follow these guys
1:01:19
as well. They've been attacked by
1:01:21
YouTube. We want to stop that.
1:01:23
YouTube needs to bend the knee to Bitcoin.
1:01:25
I think they are the first ones that they've done that too.
1:01:27
So hopefully I'm safe now too. So thank you for taking the
1:01:29
first ear clip for all of us. I appreciate you joining us,
1:01:33
man, and again, thank you, YouTube team, for reinstating
1:01:36
our channel. Appreciate it, guys.
1:01:38
And we'll see you tomorrow on the live show.
1:01:43
So it was brought to you by bitcoinwell.com on a mission to
1:01:47
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