Latest / Simply Bitcoin / Did Trump Just TRIPLE America’s Bitcoin Reserve?! | Simply Originals

Transcript

Did Trump Just TRIPLE America’s Bitcoin Reserve?! | Simply Originals · Simply Bitcoin

0:00
This is insane. Did Trump just accumulate
0:04
652,174 BTC from capturing Maduro?
0:09
Buckle up because it may be even more bullish than that my
0:12
friends. Despite stocks and shiny rocks
0:15
being at all time highs, Bitcoin being down 30% from its high.
0:19
You better not get too excited bears because despite the draw
0:23
down the diamond handed Bitcoin ETF boomers cumulative flows are
0:28
down less than 10 percent from their October top and sovereigns
0:34
they bought the debt. From we're seeing more and more
0:36
legitimate long only investors investing in it.
0:39
There was an article about a foundation that endowment just
0:43
bought a lot of I bit, but I can tell you there are a number of
0:46
sovereign funds that are standing by.
0:50
They're adding incrementally that 120 and 1100 they brought.
0:54
I know they bought more in the 80s.
0:57
That's fine. And they're they're establishing
0:59
a longer position and then you own it over years.
1:02
This is not a trade. You own it for a purpose.
1:05
OK, so here we go. Was Donald Trump's capture of
1:08
Maduro really a play to almost triple the size of America's
1:13
Bitcoin Reserve? And is Trump creating a
1:15
mechanism for America to constantly stack and add to said
1:20
reserve? We have an absolutely massive
1:22
show to get to. That's right.
1:29
Yeah. I.
1:30
I think like I I think. The future currency.
1:33
Will essentially just be wattage.
1:35
Yeah, I was thinking, is it? Is it is the ability of a person
1:39
to control energy and compute? Or just energy?
1:44
I mean the two are the two translate.
1:47
Just like. Harness energy.
1:48
Yeah, like so. Or like.
1:50
Basically, how much power is being?
1:52
Turned into work. Of some kind, right intelligence
1:57
or matter manipulation? Spoiler alert, the future It
2:04
isn't decided in elections, it's decided by who controls the
2:08
most. Bitcoin money talks louder than
2:11
politicians. It actually forces the
2:14
politicians into compliance. And yes, the politicians are
2:18
learning this. Listen to Venezuela's opposition
2:20
leader here speaking on building on what Elon said in creating a
2:25
bit of an energy and currency flywheel.
2:28
Check it out to have other people understand, you know, the
2:32
the huge potential Venezuela has not only for for Bitcoin,
2:36
because this is something we didn't have the chance to speak
2:38
today. Probably not another
2:39
opportunity, but we have, I mean, Venezuela could be the
2:42
biggest energy hub of, of our, of the hemisphere and, and, and
2:48
imagine a country with this potential.
2:53
What can could do in terms of getting Bitcoin to be a trade
2:59
and, and, and, and reserve currency because of, of, of
3:04
transactions with a commodity such as oil and gas and, and,
3:09
and other energy energy. So look, we need to raise our
3:16
voices, and sometimes I feel like, you know, the world
3:20
doesn't understand or doesn't care for what's going on here.
3:25
And today, more than ever, we need your support.
3:29
Oh easy Ruston. Are you sure that Trump is
3:32
running Venezuela now? I don't know if you asked me,
3:35
it's pretty obvious now. We all saw the news, the crazy
3:39
Black Ops mission, but Trump announced that the government
3:41
will subsidized the big oil companies to drill in Venezuela.
3:45
This means tax pairs will pay for the companies to make
3:50
profits. It's a tale as old as the state.
3:53
Socialize the costs, privatize the profits.
3:56
The greatest of all time. Ron Paul calls it out for what
3:59
it is. Check it out.
4:01
The seizing of this oil and then how, how ecstatic the, the
4:07
business people are. I think so much of, of
4:11
corporatism. That's a soft term, but what,
4:14
what about, you know, the early stages of, of fascism?
4:20
Oh, you couldn't possibly use those words.
4:22
It it's that advancement to accepting government and big
4:28
business as close partnership that I think I see clearly as a
4:33
big, they've gotten a big boost on this.
4:36
You know, that's a great point that you're making because one
4:38
of the one of the complaints about Venezuela is that, well,
4:41
they have state, they have state-run enterprises, they have
4:44
their oils, their oil system is state-run.
4:48
Well, ours is sort of de facto state-run, isn't it?
4:50
Because these companies, they went into Venezuela, you know,
4:54
many decades ago, they took risks.
4:56
There are always risk when you and when you, when you invest in
5:00
anything. They took the risks in
5:02
Venezuela. They made some profits.
5:05
Several decades ago, the oil companies were nationalized and
5:10
they went to court. They took Venezuela to court,
5:13
etcetera, etcetera. All these things happen, but now
5:16
it's all of a sudden our oil again in our government has to
5:19
use its own military to get back our oil, but it's to the benefit
5:23
of oil companies. These are acting like state
5:25
owned enterprises. But you know, there's a lot of
5:28
fuzziness in in between here. So when our companies get in
5:31
there around as an example, that is the way different places,
5:35
big, big oil and big companies go in and make their
5:38
investments, then things go wrong.
5:41
And then they expect the American taxpayer who made no
5:45
money during this time, they're supposed to March down there and
5:48
take care of them. I think that principle is.
5:51
Greatest statesman. But hey, hey, what if there's a
5:54
lot more to this than just meets the eye just in the US to
5:57
potentially seize Venezuela's Bitcoin reserves?
6:01
And also the TV is reporting on this.
6:04
So there is a second order crypto effect here where since
6:07
for going back a decade now my reporting was back in 2017
6:10
because of Spiral early inflation of the Bolivar, a lot
6:13
of people had turned to cryptocurrencies mining Ethereum
6:16
and Bitcoin in their homes in order to just have a a stable
6:20
source of of cash. But the the other side of this
6:23
is the fact that the there are multiple reports that the
6:26
government itself has been looking to evade sanctions by
6:29
doing sales of oil in tether, which they then move into
6:32
Bitcoin and so much of this market moves on sentiment.
6:35
So even the promise that perhaps the US government when they came
6:38
in might seize these assets, hold on to it.
6:41
That's a bull case for Bitcoin if you have a stockpile such as
6:45
that that isn't being liquidated all.
6:47
Right. Very interesting stuff.
6:48
Very quickly as we got to go, is it a, is it a tailwind for just
6:51
Bitcoin or also Ethereum Salon and some of these other coins?
6:53
It's a rising tide lifts all ships.
6:55
In fact, XRP has had outsized performance and when you see one
6:58
all coin do particularly well, it really is one of these signs
7:01
of a risk on environment all. Right, McKenna Sagalos, great to
7:04
see you as always. Thank you very much.
7:05
All right, before I let you go, one more look at the futures,
7:07
right. Oh.
7:08
Man, I feel like I've been saying this for years.
7:11
Sell the oil, stack the Bitcoin in your reserve.
7:14
That's the flywheel. And just then, Trump says
7:17
Venezuela will be turning over 30 and 50 million barrels of
7:21
high quality sanctioned oil to the United States of America
7:24
sold at market price with the money controlled by Trump.
7:29
Let's go ahead and think on this.
7:31
Do a little 10th grade math, shall we?
7:33
So new tankers scored a combined 80 million barrels.
7:37
Let's say each barrel is about $60.00.
7:40
And at a Bitcoin price of let's do 92,000, that's about 4.8
7:44
billion. That would bring the Bitcoin
7:46
yield of just those two seas tankers to about 52,174 BTC.
7:52
And that's on top of the 600,000 seas, bringing the total 652,174
8:00
BTC that triples the size of America's Bitcoin Reserve.
8:04
Like Thanos snapping his fingers, this is nuts.
8:07
Now, why all of this? To get some Bitcoin you might be
8:11
asking? Well, just like V for BT CS post
8:14
at the beginning, whoever holds the most Bitcoin wins.
8:17
And it's because Bitcoin is playing for all the marbles and
8:21
it's upside is unlimited. Ladies and gentlemen, Saifudina
8:25
Moose. Most people think a Bitcoin
8:29
rises and takes over when Fiat dies and Bitcoin has to kill
8:33
Fiat, and that Fiat has to die if Bitcoin is going to rise.
8:37
But it's entirely plausible in my mind that we just continue
8:42
with the same trend that we've had over the last 50 years with
8:44
Fiat and over the last 15 years with gold, sorry, with Bitcoin,
8:47
and that Bitcoin continues to appreciate Fiat continues to
8:50
depreciate. The Fiat economy becomes smaller
8:53
over time because inflation is destroying value and because
8:57
people move from Fiat to Bitcoin and the Bitcoin economy gets
9:00
larger over time. Extrapolate that over another
9:02
1020 years, 30 years, eventually the Bitcoin economy becomes
9:06
bigger and we have a Bitcoin economy that dominates the world
9:10
and Fiat continues to become a less and less significant part
9:13
of the world economy. In a sense, this is what's been
9:15
going on over the last 10 years. You know, we're repricing
9:19
everything in SAT's and we're redenominating the entire world
9:22
in Satoshi's. So, you know, they just need to,
9:28
everything else needs to drop another 90% and in Satoshi terms
9:32
and the Bitcoin economy grows another 100X or so and then the
9:38
world is effectively on a Bitcoin standard.
9:41
So I've stopped waiting for Fiat to die and I'm just enjoying
9:46
Bitcoin growth. You're enjoying Bitcoin winning.
9:48
It's so this reminds me, we were doing a panel yesterday at the
9:51
conference and you said the Bitcoin price is the only thing
9:55
that matters, and I guess This is why.
9:56
Is that right? Yeah, absolutely.
9:58
It's the scoreboard. I mean, it's a lot of people
10:00
have this kind of it's, it's, it's, it's the anti capitalist
10:04
mentality, as Mises calls it, where people think that, you
10:08
know, wanting to be financially secure is morally dubious, that
10:13
you're a bad person. If you care about securing your
10:16
kids, if you don't want your kids to be dead slaves, then
10:19
you're a selfish, evil, sociopathic person.
10:22
You know, just like people who want to keep the value of their
10:24
money. These things are pathologized in
10:26
modern Fiat society because that's government propaganda.
10:30
They need your money and they need you to be a slave and they
10:33
need your kids to be slaves, to pay taxes and to suffer from
10:37
inflation. So if you try and find a way
10:38
around this, you get a lot of social disapproval, you get a
10:43
lot of hate. So I think ultimately it's just
10:52
I, I, I think the propaganda is what continues that.
10:54
But I think in the real world, people are just going to
10:55
continue to behave in a way that benefits them.
10:58
And the real measure of how Bitcoin succeeds or fails is
11:04
just how big the market capitalization of Bitcoin is.
11:07
It's, you know, if if you're thinking about the market for
11:11
shoes, there's total addressable market, 16 billion feet on earth
11:17
that you have to cover with shoes roughly.
11:19
And if you have a chunk of that market, somebody else doesn't,
11:22
and it's how much of that shoes can you take in that market?
11:27
And then Bitcoin is in the market for money, and money is
11:30
the biggest market of all. People don't think of it that
11:32
way, in the same way that fish don't understand what water is.
11:35
But money is a market itself. We don't think of it that way
11:40
because government generally wants us to think of money as
11:44
just being the neutral layer of a market.
11:47
Market is something that is happening.
11:49
It's. Built on top.
11:49
It's built on top of money, but money itself is a market, and
11:52
that's the powerful Austrian idea.
11:54
And once you think of money as a market, you realize it has a
11:57
total addressable market, which is all of the world's cash
11:59
balances, all of the money that people hold for the sake of
12:02
money. Not as investment and not as,
12:07
you know, the wealth that people hold, not as consumer goods and
12:10
not as investments in this capital goods, as money, as
12:12
liquid wealth, things that they hold so that they can spend
12:15
later. And that's about $300 trillion
12:18
if you count physical money, checking accounts, savings
12:21
accounts and government bonds, which I would count as well.
12:24
And gold, that's about $300 trillion.
12:26
So Bitcoin is already at 2 trillion.
12:29
So it's less than 1% of the total addressable market.
12:32
But but if it's at 50%, if it's at 6070%, then it's one.
12:37
And then, you know, it doesn't matter what people think.
12:39
So if Bitcoin goes up 100 X from where it is right now, if we are
12:45
at $9 million or $5,000,000 or something like that, Bitcoin is
12:50
the biggest monetary asset in the world.
12:51
The cash balances in Bitcoin exceed everything else.
12:54
Bitcoin is the world's money. That's it.
12:55
It's game over. And that's just about the price.
12:58
So the harder we pump the price, the more Bitcoin is winning.
13:01
And you know, it's it offends people that somebody could write
13:06
a book and be so intellectual about Bitcoin and then just
13:10
sounds like a total mood boy cheating on the price.
13:12
But that's ultimately what it is.
13:14
Bitcoin is a price technology. It's, it's really all about that
13:17
number because the higher that number goes, the larger the size
13:20
of cash balances in Bitcoin, the more successful Bitcoin is as
13:23
money and the more you are able to use it as money, the more
13:27
wealth is stored in it and the less wealth is being devalued
13:31
through government inflation. So we need to move all the
13:33
world's wealth into Bitcoin in order to really kill Fiat.
13:36
That's the long, painful way of doing this.
13:39
Initially when I first got into Bitcoin, I think a lot of people
13:41
when they first get into Bitcoin, they imagine that
13:44
because, you know, figuring out Bitcoin and understanding the
13:48
process, it's so mind blowing that you imagine all right now
13:51
everybody's going to get this and everybody's going to dump
13:52
their Fiat and everybody's going to go into Bitcoin and Bitcoin
13:55
is going to moon overnight, you know, $1,000,000 of Bitcoin
13:58
tomorrow. But then over time, you realize
14:01
people are a lot stupider than you give.
14:02
Their credit for. So it's going to take a lot
14:05
longer and they're going to need to get poorer before they figure
14:09
it out and understand it. And we're going to take the
14:11
long, scenic, Ugly Rd. toward world where Bitcoin dominates
14:17
cash balances. So it's going to be a while,
14:19
unfortunately, which is sad because the world needs to get
14:22
rid of Fiat. But you know, Rome was not built
14:26
and. Breaking orange man is not
14:29
stopping at Venezuela. Greenland is next.
14:32
Oh no, apparently Denmark. You know what they did recently
14:36
to boost security in Greenland? They added one more dog sled.
14:39
They thought it was a great move.
14:42
You know what Denmark did recently?
14:44
They boost up security in Greenland.
14:47
They added one more dog sled. It's true.
14:51
They thought that was a great move.
14:54
If you ask me, it's perfect, probably a great place to mine
14:56
some corn. But now what if America sold
14:59
those 652,000 Bitcoin? That's insane Rustin.
15:03
That would violate the executive order.
15:05
While spoiler alert, they're already violating the law and we
15:09
have receipts and president to prove it.
15:11
But before we bring it home today.
15:13
Look. At our legs 3 or 4 times maybe?
15:16
I pumped those numbers. Up those are.
15:17
Rookie numbers in this. Racket.
15:19
Let's take a moment to recognize our sponsors powering this show
15:22
over at the Bitcoin Way. At The Bitcoin Way, they'll walk
15:25
you through all things Bitcoin like it's kindergarten with
15:28
Satoshi. From setting up your first
15:30
wallet to running your first node and so much more.
15:33
No tech skills needed, The Bitcoin Way has got you covered.
15:36
You want $1,000,000 Bitcoin? Better act like it.
15:39
Self custody is not optional. That is the revolution.
15:42
Schedule a free 30 minute consultation with The Bitcoin
15:45
Way today using that link in the show notes.
15:47
Today's show is brought to you by Leaden.
15:50
If you ever need cash without selling your Bitcoin, Leaden
15:52
makes that possible. The global leader and Bitcoin
15:55
backed lending Lenin has issued over 9 billion in loans since
15:59
2018 and they have a perfect record of protecting client
16:03
assets. No credit checks, funds in less
16:06
than six hours, no monthly payments, repay whenever you
16:09
want with 0 penalties and group of reserves.
16:13
Reports verified by a top accounting firm are published
16:16
every six months. Leaden gives Bitcoin holders a
16:19
secure, transparent way to unlock liquidity without
16:22
selling. Learn more at learn dot leaden
16:24
dot IO slash. Simply that's learn dot leaden
16:28
dot IO slash simply right finish time.
16:32
New reporting suggests that the Southern District of New York
16:36
and the Department of Justice may have quietly sold Bitcoin
16:39
forfeited by the Samurai wallet developers despite President
16:43
Trump's Executive Order 14233, which explicitly requires
16:47
forfeited Bitcoin to be held in the US.
16:50
Strategic Bitcoin Reserve not liquidated.
16:53
Documents indicate roughly 57 1/2 Bitcoin, about 6.3 million
16:57
was transferred directly to Coinbase Prime and likely sold
17:01
bypassing long term government custody.
17:03
That would directly contradict the executive order which States
17:06
government Bitcoin shall not be sold.
17:10
This isn't an isolated issue. I think of the past few months
17:13
they've only released about 1% of the Epstein documents.
17:15
But the SDN why has a track record of ignoring federal
17:19
guidance? The hell is wrong with these
17:21
people continuing prosecutions of non custodial developers even
17:25
after DOJ memos ordering an end to regulation by prosecution.
17:30
Senator Cynthia Lummus, this is now demanding answers warning
17:34
the US cannot afford to dump strategic Bitcoin while other
17:37
nations are stacking. Bottom line, if this sale
17:40
happened, it wasn't required by law.
17:42
It was a choice and it raises serious questions and whether
17:45
the so-called war on crypto is actually over.
17:48
The senator is deeply concerned about this report.
17:51
Us too Senator, but that is why we shall hold their feet to the
17:54
fire and stop selling our corn to those ravenous stackers in El
17:58
Salvador. Godspeed Mr. Boo Kelly and I
18:01
mean Maduro. That's great and all, but when
18:04
this oh man, the 4th turning does not let up.
18:08
But damn it, we have to admit it's pretty entertaining and the
18:11
possibility of World War 3 is higher than ever, which is
18:15
probably a good time to visit our new sponsor set 123.
18:19
Because when cell service dies, life doesn't have to.
18:22
SAT 123 hooks you up with real satellite phones, Starlink kits
18:27
and rugged off grid Internet that works anywhere, mountains,
18:30
ocean, middle of nowhere. It doesn't matter if you care
18:33
about preparedness, freedom and staying connected when it
18:35
actually counts, go to sat123.com.
18:38
That's SAT 123.com. And don't forget to use promo
18:42
code simply for 15% off. No signal, no problem.
18:47
Hey, what do you guys make of all this?
18:48
Let us know below and I hope you enjoyed this one.
18:50
Don't forget to like subscribe and give us a pant by sharing
18:53
the sound money gospel. I love you guys.
18:55
I'll catch you tomorrow.