Latest / Simply Bitcoin / Donald Trump JUST Sent A HUGE BITCOIN WARNING at China!! | EP 1369

Transcript

Donald Trump JUST Sent A HUGE BITCOIN WARNING at China!! | EP 1369 · Simply Bitcoin

• 0:00
  Yo, Donald Trump just went on 60 minutes and sent a massive
• 0:04
  warning to the world about the China and the Americas silent
• 0:08
  Bitcoin battle. Let's get straight into the clip
• 0:11
  and of course, me and Opti, we'll talk about it.
• 0:14
  Now China's getting into it very big right now.
• 0:18
  If you want to go after people, you're going to kill that
• 0:20
  industry and it'll be very bad. Tremendous number of jobs.
• 0:26
  I campaigned positively on crypto very openly.
• 0:29
  I campaigned, Biden campaigned against it.
• 0:32
  When Biden found out that I was getting like 100% of the crypto
• 0:35
  vote, which was a lot, he switched totally and he went in
• 0:39
  favor of crypto. They went totally in favor.
• 0:42
  They had many people under indictment.
• 0:44
  They let them all go. They let them all go.
• 0:47
  You know that many people were under indictment.
• 0:49
  Biden was a corrupt president. Biden went all in on crypto at
• 0:54
  the very end because he thought he could get some votes.
• 0:56
  It didn't work. They voted for me.
• 0:58
  I want to make crypto great for America.
• 1:01
  That's the only thing. I don't want to have somebody
• 1:03
  else have crypto and have China be #1 in the world in crypto,
• 1:08
  because in crypto it's a kind of an industry where basically
• 1:11
  you're going to have #1 and you're not going to have a
• 1:14
  number 2. And right now we're number one
• 1:16
  by a long shot. I want to keep it that way.
• 1:18
  The same way we're number one with AI, we're number one with
• 1:21
  crypto. I don't want to keep it that
• 1:23
  way. Alright, everybody, so you heard
• 1:26
  it again from President Donald J Trump talking about it.
• 1:30
  This is exactly the reasons as to why, you know, he promised us
• 1:33
  what he promised us at the Bitcoin conference in Nashville.
• 1:37
  He said, listen, if we don't get on the Bitcoin train, China
• 1:41
  will. the United States and China, right?
• 1:44
  China's number 2, the United States is number 1.
• 1:46
  And of course, China wants to be competitive with the United
• 1:48
  States. And again, he's saying it, look,
• 1:50
  if we don't get ahead of the curve in terms of, you know,
• 1:53
  having favorable crypto, to use his words, crypto policy, you
• 1:58
  know, another country's just going to eat our lunch.
• 2:00
  And the same thing applies to AI.
• 2:02
  So again, this is a battle of incentives.
• 2:04
  This is what Max Keiser coined the global hash war.
• 2:08
  We're seeing it play out in real time Now.
• 2:10
  What's really interesting about this as well is that Anthony
• 2:13
  Scaramucci actually said that China's officially going to
• 2:17
  change their stance on Bitcoin, which I found very interesting
• 2:21
  that that clip dropped very closely to when Trump did that
• 2:25
  60 Minutes interview. That 60 Minutes interview
• 2:28
  actually happened yesterday night.
• 2:30
  So does Donald Trump and Anthony Scaramucci know something we
• 2:34
  don't about the intention of China?
• 2:37
  We know that after the China mining ban, the majority of the
• 2:40
  hash rate migrated to United States of America, specifically
• 2:44
  the state of Texas. So imagine how you're feeling as
• 2:48
  the Chinese government, right? You're seeing one of the the
• 2:53
  upcoming industries, right, that's attracting all of this
• 2:56
  capital like a black hole, right?
• 2:59
  All these public, the best performing public companies,
• 3:02
  right? You know, you have MicroStrategy
• 3:04
  26 X like went from like a billion dollar market cap to 100
• 3:08
  billion, I think at the peak, right?
• 3:10
  And of course, you have Bitcoin treasury companies popping up
• 3:14
  all over the world, right? You have it, you have it being
• 3:17
  embraced by the administration, right?
• 3:20
  You have these public, publicly traded Bitcoin mining companies
• 3:23
  that are all around the world deploying their fleets, right?
• 3:27
  You know, tapping into stranded energy.
• 3:29
  Imagine looking at it from the Chinese government's
• 3:31
  perspective. We had the majority of the hash
• 3:34
  rate within our borders and we kicked it out.
• 3:38
  And now the United States of America is actually, you know,
• 3:41
  has an advantage. Are we going to allow that to
• 3:43
  happen? And of course, who benefits from
• 3:45
  all of this? When countries compete, you
• 3:48
  know, to get the hash rate. When countries compete to
• 3:51
  accumulate as much Bitcoin as possible, who wins?
• 3:55
  The Bitcoin holder. So I know as the price is
• 3:57
  dropping right now, we went from 110K to 100 and 108 K.
• 4:01
  Think about this, right? This is absolutely bananas.
• 4:03
  So I'm going to play you guys a clip of Anthony Scaramucci
• 4:06
  talking about China potentially getting back into Bitcoin.
• 4:09
  And I find it interesting because Donald Trump saying the
• 4:12
  same thing. What do they know that we do
• 4:14
  not? And now that the United States
• 4:18
  is open to this idea, I think it would be impossible to suggest
• 4:22
  that other countries are not going to do the same thing.
• 4:25
  And, and I'm sitting here today, in December of 2024, I'll make a
• 4:31
  prediction here that by this time next year, the Chinese will
• 4:35
  be back in the Bitcoin game. They're, they're, they're
• 4:39
  probably going to add it to their reserve assets and they're
• 4:42
  going to probably allow for people to mine it legally.
• 4:45
  I mean, it's ironic. 10% of the mining is still happening in
• 4:49
  China despite the fact that the Chinese Communist Party has
• 4:53
  disallowed it. But you're going to see this
• 4:56
  opening. It's almost like a match sailing
• 4:58
  race. You're not going to be in a
• 5:01
  position in the world in developing economies where the
• 5:05
  US is moving towards Bitcoin and you're not moving towards
• 5:09
  Bitcoin. So I mean find it very
• 5:12
  interesting man, right? And I want to talk about the
• 5:15
  dates, Opti, you know, he's dropping the dates basically
• 5:18
  saying, like, look, this is going to happen.
• 5:21
  You know, he was, he was, he was talking, he was referencing from
• 5:25
  2024 when that was recorded, right?
• 5:27
  And now you have the president of the United States going on 60
• 5:30
  Minutes. Again, I'm not a 60 Minutes fan.
• 5:32
  I don't like how they editorialize things and how they
• 5:35
  like clip out certain things. But you know, coming from legacy
• 5:38
  media does have a tremendous reputation.
• 5:41
  Like if you've been on legacy media, you know, 30 years ago,
• 5:44
  that was the equivalent of making it on the Joe Rogan
• 5:46
  podcast. And he's going there and he's
• 5:49
  basically saying like, look, if we don't do it, China's get on,
• 5:52
  China's going to get on this thing, right?
• 5:54
  So, you know, that's just incentives.
• 5:56
  And I think that's just showing that, you know, the Bitcoin
• 5:58
  incentives are doing what the man.
• 6:03
  I don't know what's going on with with Restream dude, what
• 6:06
  they got? AI totally fixed it on Friday
• 6:09
  and it's still acting. Restream got to get their act
• 6:11
  together. But anyways, yeah man, I wanna
• 6:14
  get your thoughts, Opti. Like is is China officially
• 6:17
  heading back into Bitcoin? I totally think so.
• 6:20
  So I also saw this morning a headline basically saying that
• 6:25
  Hong Kong is now allowing their citizens on exchanges to
• 6:31
  participate in global liquidity pools.
• 6:33
  And so Hong Kong just opened themselves up to global Bitcoin
• 6:37
  markets no longer kind of clamping down on it.
• 6:41
  They're essentially allowing everyone to go.
• 6:43
  And now I know a lot of people are going to say, well, Hong
• 6:45
  Kong doesn't necessarily mean China.
• 6:47
  But one thing that we have been covering for a long time and
• 6:50
  Nico's more kind of well versed in this idea is, is the is the
• 6:54
  meme of, you know, two countries, one policy.
• 6:56
  And we have been covering for the last couple of months.
• 6:59
  Actually, I think it's been over a year where we've kind of been
• 7:03
  speculating on this idea that China's slowly moving towards
• 7:08
  Bitcoin, but they're using Hong Kong to do that move.
• 7:12
  We saw them launching ETF shortly after Larry Fink and now
• 7:15
  we're just saw literally this morning.
• 7:17
  So the timing is probably the most interesting aspect about
• 7:21
  this. We saw Trump go on 60 minutes.
• 7:23
  That was what Friday or was it was it last night?
• 7:26
  I'm, I don't know exactly the timing of this, but couple of
• 7:29
  days after we hear news coming out of Hong Kong saying, hey,
• 7:32
  we're going to allow our exchanges to participate in
• 7:35
  global markets here, which is kind of connecting these dots.
• 7:39
  And now, you know, maybe you're not not the biggest fan of Trump
• 7:41
  or whatever, but he is definitely sending a warning to
• 7:44
  the world right now. We want to be the best.
• 7:46
  We want to be #1 and we can't lose this race.
• 7:49
  And so it really goes back to a lot of the conversations we've
• 7:52
  been having on the show for a while, whether the Trump
• 7:56
  administration is serious about Bitcoin, about passing an SBR,
• 8:00
  about passing pro Bitcoin regulations.
• 8:02
  We know they want to go all in on stable coins.
• 8:05
  And I think that might be kind of why he said crypto per SE.
• 8:09
  Obviously you guys understand, understand if you've been
• 8:11
  watching the show for a while, you understand why stablecoins
• 8:14
  are so important to the US. Even Senator Lemons has been
• 8:17
  saying they think that they can maintain dollar hegemony,
• 8:21
  hegemony with stablecoins. Essentially, stablecoins are the
• 8:24
  biggest treasury buyers. They need to find new treasury
• 8:27
  buyers because people aren't looking to buy treasuries.
• 8:29
  The returns aren't there. Obviously, they just cut
• 8:32
  interest rates. The national debt is getting
• 8:34
  crazy. We know what they're going to
• 8:36
  do. They're going to print their way
• 8:37
  out of this. They, they have to print their
• 8:39
  way out of this, which is why they think that stablecoin is
• 8:43
  going to fill that demand right now.
• 8:45
  This is why they're pushing for stablecoins.
• 8:47
  I think This is why Trump said crypto.
• 8:49
  Maybe, you know, you could argue he's older.
• 8:51
  He, he isn't separating Bitcoin from crypto.
• 8:54
  But remember when he was at the Bitcoin conference, he very
• 8:56
  specifically said Bitcoin. Maybe that was just 'cause he
• 8:58
  had good PR and you know, David Bailey was telling him like say
• 9:02
  Bitcoin specifically and their, their script writers added that
• 9:06
  to the script. But here you can see he is very
• 9:09
  actively saying like there is a new trade war going on and it's
• 9:14
  not the trade war that you think it is.
• 9:16
  It is being, you know, fought over Bitcoin and who's going to
• 9:20
  be the Bitcoin dominant superpower right now?
• 9:23
  As we've all been covering and as Bitcoiners have been saying
• 9:26
  for a long time, the new battleground is are you going to
• 9:32
  adopt new technologies, whether that's AI or Bitcoin?
• 9:36
  Those are, you know, all the hype the last couple of years is
• 9:38
  AI and Bitcoin. And obviously they have to
• 9:41
  position themselves to be, you know, number one in those those
• 9:45
  industries or those sectors if they want to maintain kind of
• 9:47
  their dominance here. Now, of course there's a lot of
• 9:50
  wars and trade war conversation and more traditional kind of
• 9:53
  trade war behavior. But it is interesting that he
• 9:57
  went out on 60 minutes like maybe we don't watch 60 minutes.
• 10:00
  I, I, I can't remember the last time I watched the full 60
• 10:02
  minutes, but this is sending a signal to all of the older
• 10:06
  generation like this is where our new fight is heading.
• 10:10
  So I think this is very interesting that he came out
• 10:13
  and, and very specifically in very strong words was like, this
• 10:16
  is where the, where the battle is headed.
• 10:19
  Again, if you just listen to what Trump says, I know a lot of
• 10:22
  people in the chat and, and in general are like, Trump's a
• 10:26
  liar. He doesn't, you know, he doesn't
• 10:27
  know what he's talking about. He, he, you know, he just says
• 10:30
  things. You could take that angle, but
• 10:32
  you could also take the angle that what we've been saying for
• 10:35
  a while, or rather what I've been saying for a while, I think
• 10:38
  he's been very clearly telegraphing and projecting
• 10:40
  where they're going. He says something and then he
• 10:43
  has his administration, like Scott Besson be kind of his, you
• 10:47
  know, his, his muscle in the background to do what he wants
• 10:50
  to do. And I think this this year has
• 10:53
  been one of those years that it, it, it has felt kind of slow.
• 10:57
  There's been a lot of misdirection.
• 10:58
  You really don't know what's going on with the Trump
• 11:00
  administration. There's been some positive
• 11:02
  moves, then there's been, it's been like a 2 steps forward, one
• 11:06
  step back. But it does seem like they are
• 11:08
  fundamentally trying to reorder the monetary system, fix the
• 11:12
  plumbing as it's put. And I think if, if what he's
• 11:16
  saying, if you can take it from just surface level what he's
• 11:20
  saying, I think this is very interesting to be like, OK, so
• 11:23
  the new trade war is going to be around Bitcoin.
• 11:25
  Obviously that includes stablecoins.
• 11:28
  Now, I don't, I don't think it really includes all the other
• 11:31
  shit coins, but it doesn't really matter to him.
• 11:33
  Like we we all saw what happened with Melania and Trumpcoin.
• 11:36
  They're like 99.8%. They're they're just wrecked.
• 11:39
  But you also have to remember World Liberty Finance is very
• 11:42
  huge in stablecoins. They launched their own
• 11:44
  stablecoins. So even though they're doing
• 11:46
  this stable coin push, that just means that bitcoin's going to
• 11:49
  get through the door. They, they can't essentially
• 11:51
  just push stable coins and not push Bitcoin through the door.
• 11:54
  So I, I think this is the war. It's not so much just about
• 11:58
  Bitcoin, but Bitcoin is a Trojan horse here.
• 12:00
  It's about kind of proliferating stable coins and dollar strength
• 12:04
  around the world. And, and we've seen the opposite
• 12:06
  happen on the BRICS nations. They have been pushing very hard
• 12:10
  to move away from the dollar. There's been a lot of posturing
• 12:12
  to move away from the dollar. There's been a lot of posturing
• 12:15
  from the US to make sure that they stay on the dollar.
• 12:18
  And now we're seeing they're using this narrative here of
• 12:21
  we're going to be the number one in crypto.
• 12:23
  Obviously bitcoins going to get through the door on that.
• 12:26
  Yeah, exactly #1 in Bitcoin, Bitcoin's going to get through
• 12:29
  through the door with that. But it's really a huge push for
• 12:32
  stablecoins to kind of secure dollar hegemony via people
• 12:36
  buying treasuries. So the China's been very, very
• 12:40
  upfront about they, they, they're on the ball.
• 12:42
  They understand what's going on with stable.
• 12:44
  Remember what, what Putin said a while or no, it wasn't Putin.
• 12:47
  It was one of his ministers and by economic advisers.
• 12:50
  He's like, the US is going to push stablecoins so that they
• 12:52
  can devalue their debt. So like, it's not that the
• 12:55
  playbook isn't known. So when you hear things like
• 12:58
  this, it really does show you like, oh, they are actually
• 13:01
  having a trade war now, a new trade war that most people are
• 13:04
  missing. And it is revolving around
• 13:06
  Bitcoin and stable coins. And so as a Bitcoiner, I'm like,
• 13:10
  okay, look, I I won't hold stable coins.
• 13:12
  I want Bitcoin to win, but it does seem like we are seeing
• 13:16
  kind of a changing of the guard right now from old economic
• 13:20
  paradigms to a new economic paradigm.
• 13:22
  And of course, I, I know we're going to talk about it later
• 13:25
  about maybe potentially what's happening with the price right
• 13:28
  now, but it is all kind of aligning to this perfect storm.
• 13:32
  It's like, OK, maybe 2025 wasn't the year we thought it was going
• 13:37
  to be. But as I've been saying on the
• 13:39
  show for the last couple of weeks, it's probably going to be
• 13:41
  looked back on as the year that fundamentally set Bitcoin being
• 13:46
  from a speculative kind of, you know, ugly, redheaded stepchild
• 13:50
  in the corner to a fundamental economic monetary asset.
• 13:55
  And it sounds like President Trump's all over on board on
• 13:57
  that. 1A. 100 percent, 100% agree with you also too.
• 14:00
  And Scott Besson, the Treasury Secretary.
• 14:03
  Scott Besson actually posted this on on Friday.
• 14:07
  I believe we actually we were talking about it.
• 14:10
  Now we we this happened after the show, but yeah, this is.
• 14:13
  Crazy. So this kind of goes along with
• 14:15
  what Opti, the points that Opti was making and how this
• 14:18
  administration feels about Bitcoin.
• 14:20
  And again, this is night and day compared to the previous
• 14:25
  administration. The previous administration used
• 14:27
  Operation Choke .2 point O to attack Bitcoin in 50 different I
• 14:33
  call it death by 1000 regulatory cuts, right?
• 14:36
  They went after the mining industry.
• 14:38
  They went after developers. You know, they arrested some of
• 14:41
  the biggest, you know, Bitcoin. I wouldn't, I wouldn't say
• 14:45
  Bitcoin. I'd say crypto entrepreneurs
• 14:47
  like CZ, Arthur Hayes, both of which have gotten pardons by
• 14:51
  now. By the way, the big one was CZ
• 14:53
  recently, which by the way, that was actually a point of, of, of
• 14:57
  contention. That was something that was
• 14:58
  asked during the 60 minutes interview.
• 15:01
  So you could see how this, how Bitcoin is playing like this,
• 15:04
  this, this central role in one of the, the policies from, from
• 15:10
  this administration. And again, I think it it, it'll,
• 15:12
  it's all about align this the 6th largest Bitcoin treasury
• 15:20
  company was did we drop off? We're back.
• 15:24
  We're back on my end. Let me see, are we?
• 15:29
  Yeah, yeah, I sorry guys, I don't know what's going on over
• 15:32
  here. It's.
• 15:32
  Frozen on my end. No, you're you're good.
• 15:34
  You're live. OK, so, yeah, so Scott Bessent
• 15:37
  again, Treasury Secretary Scott Bessent, right, is going out
• 15:41
  there and he's literally preaching Satoshi's gospel,
• 15:45
  which is which is nuts. This is gnarly.
• 15:47
  He he literally posted this October 31st.
• 15:51
  It was after the show, you know, again, 17 years after the white
• 15:56
  paper, the Bitcoin network is still operational and more
• 15:59
  resilient than ever. Bitcoin never shuts down, you
• 16:03
  know, and of course he makes he makes it political, talking
• 16:05
  about the government shutdown and and all that stuff.
• 16:07
  But again, you know, it's very clear that this administration
• 16:11
  feels that Bitcoin is a key component of their policy and
• 16:17
  how they can maintain American supremacy, you know, for the
• 16:22
  next century or or so. Like Bitcoin is a key component
• 16:25
  of that. And again, this aligns this
• 16:27
  alignment of incentives with bitcoiners.
• 16:30
  Bitcoiners have been saying this for a long time.
• 16:32
  I didn't think we were going to get into the nation state game,
• 16:34
  right? I didn't think we were going to
• 16:35
  be rooting, you know, for the Fed to lower rates.
• 16:38
  I didn't think we were going to be rooting, you know, money
• 16:40
  printer go Burr. We've so been used to being
• 16:43
  attacked. We've so been used to being the
• 16:45
  underdog that I think it caught us a lot of us by surprise.
• 16:49
  Like I remember January, the feelings that I was having when
• 16:53
  when Trump was inaugurated, when the first executive order was
• 16:56
  released, the fact that, you know, Bitcoin was mentioned in
• 16:59
  an executive order and it wasn't mentioned in this hostile
• 17:02
  manner, how how it has been by the previous administration.
• 17:06
  Again, it was hostile. And as Trump said during that
• 17:09
  interview, you know, it it I can make a very solid argument that
• 17:13
  one of the main reasons as to why Kamala lost the last
• 17:17
  election was her stance on crypto.
• 17:21
  Now they try to backpedal towards the end.
• 17:25
  They tried to like, you know, take it back.
• 17:27
  But if you guys have been tuning into the show, we took a very
• 17:31
  simple stance. We said we want to see it
• 17:34
  officially in the Democratic Party official documents, what
• 17:38
  their actual stance is on crypto.
• 17:40
  We don't want this, you know, cheap talk.
• 17:43
  We don't want a little subtle tweet right now.
• 17:45
  We actually want to see the policy because our lived
• 17:48
  experience for the last four years was that they used the
• 17:51
  full might of the federal government and all the
• 17:54
  regulatory agencies to go after our industry.
• 17:58
  They went after specific banks that were pro crypto, pro
• 18:02
  Bitcoin, right? So what did we say?
• 18:04
  I, I remember I posted this, I had it saved to draft, but the
• 18:08
  Overton window didn't shift enough for, for, for it to be
• 18:12
  for the post to come out in public.
• 18:15
  But I basically said, look, listen, guys, I think it's
• 18:18
  probably a good idea. You know, that Biden doesn't win
• 18:22
  another term, right? And the post went viral because
• 18:25
  everyone else was thinking it as well.
• 18:27
  But again, Bitcoiners went through this very uncomfortable,
• 18:30
  you know, transformation, this this change of mindset where,
• 18:34
  you know, we were never in DC, We were never part of the
• 18:37
  political conversation. We were never in the room.
• 18:39
  If you're not in the room, you're not in the deal.
• 18:41
  And then all of a sudden, right, we were forced into a corner
• 18:45
  because of the previous administration's policy and the
• 18:48
  regulations towards the entire industry.
• 18:50
  And we threw a political hat in the ring and shout out to David
• 18:53
  Bailey and the Winklevine twins because they really, you know,
• 18:56
  move this forward. And of course, we have David
• 18:58
  Sachs in the in the White House, we have Howard Lutnick, right,
• 19:01
  all very pro Bitcoin. They they own Bitcoin, they have
• 19:04
  huge bags. They all played a very big
• 19:08
  piece. And I'm sure there's a lot of
• 19:09
  other people, of course, Senator Lummus, the Bitcoin sender.
• 19:13
  So yes, I mean, we went from having a hostile administration
• 19:18
  that you can make an argument that cost them the election, the
• 19:21
  fact that they were so hostile towards Bitcoin and crypto to a
• 19:25
  pro Bitcoin administration to the point that it's even being
• 19:29
  brought up on on the staple of staples of legacy media
• 19:34
  interviews, which is 60 minutes. I'm not a big fan of 'cause they
• 19:37
  editorialize it. They take a, it's an hour and a
• 19:39
  half interview and they only air 20 minutes.
• 19:41
  So they get to pick and choose what clips they want to play,
• 19:44
  right? I'm not a big fan of that.
• 19:46
  We should do that. I'm not a big fan of that.
• 19:48
  But that's how legacy media works.
• 19:50
  But yeah, I mean, this is a huge deal.
• 19:52
  And again, talk about incentives, going back to what
• 19:54
  Max Keiser was talking about the global hash war, yes, of course
• 19:59
  that's going to force, you know, one of America's biggest
• 20:02
  competitors, largest competitors, they see America
• 20:05
  and they say, I, I want to get there.
• 20:07
  Of course it's going to force their hand.
• 20:09
  That's why Anthony Scaramucci said what he said.
• 20:11
  And again, we're not Privy to a lot of the information that
• 20:15
  Donald Trump is Privy to. He has access to classified
• 20:18
  information. Of course the president of the
• 20:19
  United States does so. And of course, he's looking at
• 20:22
  this, he's seeing the writing on the wall and he says, hey, guys,
• 20:25
  if we don't get our act together, they're.
• 20:28
  Going to eat our lunch and I love how he talked about that
• 20:30
  optic he's like, look, this is winner takes all, right.
• 20:33
  This is winner takes all. There isn't going to be a
• 20:35
  competition. There's going to be a winner and
• 20:37
  there's going to be a loser. Now, do you want to be on the
• 20:39
  side of the winners or do you want to be on the side of losers
• 20:41
  now? It's weird as a bitcoiner,
• 20:44
  right? Talking about we got booted
• 20:47
  again dude. No, no, I'm here.
• 20:48
  You're still here. It's weird as a bitcoiner
• 20:51
  talking about this like nation state, you know, this nation
• 20:55
  state dynamic between 1:00 and the other and how, you know,
• 21:01
  we're rooting for our government, right, to basically
• 21:05
  win the race, right? That's very strange.
• 21:08
  But again, I think it's a different ball game, right?
• 21:11
  It's a different ball game. For most of this channel's
• 21:13
  history, we've always been talking about the individual and
• 21:17
  I think it still is a revolution of individuals.
• 21:19
  Like the revolution here is 1,000,000 upon millions of
• 21:23
  individuals taking Bitcoin and putting it to self custody.
• 21:26
  That's the revolution. That's what's actually going to
• 21:28
  change the world. But at the same time, to think
• 21:32
  that Fiat politics is just going to go by the wayside if to think
• 21:37
  that you're going to have your Bitcoin in self custody and all
• 21:40
  of a sudden you don't have to care about, you know, the person
• 21:43
  who's in power. To think that is somehow, you
• 21:46
  know, a good idea, I think is completely naive.
• 21:50
  And I think this last election showed that we came together as
• 21:54
  an industry, as a movement. And because of the person we put
• 21:58
  in the White House, we got Ross Ulbricht free.
• 22:03
  That is a huge like, if that is not a better representation of
• 22:08
  the importance of, of, of politics, I don't know what is.
• 22:13
  Because if we didn't do that, Ross would still be in prison.
• 22:17
  And it was an unjustified sentencing, right?
• 22:20
  So again, you have a pro Bitcoin administration that's going to
• 22:24
  allow Bitcoin entrepreneurs to thrive in the United States.
• 22:27
  You have, again, administration that's going to leave Bitcoiners
• 22:31
  alone. And again, you have an
• 22:33
  administration that potentially could actually announce A
• 22:38
  strategic Bitcoin reserve and make number go up.
• 22:40
  Now that's my only problem that I have with President Trump at
• 22:45
  the at the moment so far he's completed all I'm getting not
• 22:49
  getting into other policy or political matters.
• 22:51
  This is not that type of show, but specifically sticking to
• 22:54
  Bitcoin. He's kept all his promises
• 22:57
  operation choke .2 point O is over right.
• 23:00
  This attack towards our industry is done this pro Bitcoin
• 23:04
  administration. It's there.
• 23:05
  You have the Treasury Secretary wishing Bitcoin happy birthday.
• 23:09
  I mean yes, this is absolutely fantastic.
• 23:12
  You have Ross free of of course, so this all you have a bunch of
• 23:15
  pardons for some of the biggest entrepreneurs in the industry.
• 23:18
  So he's kept his promise. The only promises he hasn't kept
• 23:21
  his number go up. Now I have a theory behind that
• 23:24
  Opti and we were talking about it the other day.
• 23:26
  My theory is that I think he's packing his bags and I don't
• 23:31
  think he wants number to go up until his bags are packed.
• 23:33
  I could be completely wrong there, but also we had this
• 23:36
  amazing article which we're going to cover during the news
• 23:39
  that you guys are really going to enjoy.
• 23:41
  But it's basically reasoning, explaining why Bitcoin didn't
• 23:47
  moon in 2025. And it's actually making the
• 23:51
  case that we actually might see an extended cycle.
• 23:56
  And I have a clip for you guys of the author actually going on
• 23:59
  Anthony Pompliano's podcast talking about this specific
• 24:02
  subject. And he wrote a sub stacked
• 24:05
  article about it, which I'm really, really excited to get
• 24:08
  to. But before we move on to that,
• 24:09
  I'm going to pass it back on to Opti.
• 24:11
  I mean, Opti, President Trump. I remember 2024, we were at the
• 24:15
  conference, we were on the news desk.
• 24:16
  We were talking about the significance of this, the
• 24:19
  historical like this has never happened in history.
• 24:22
  We were always attacked, right? You had RFK Junior, which went
• 24:25
  hard in the paint, right? He's like, look, if you elect me
• 24:28
  for president, the United States of America is going to buy 5
• 24:31
  million Bitcoin, right? But then you had, you know,
• 24:34
  again, the the Republican front runner, so a mainstream party
• 24:37
  going on there saying the same thing, saying, listen, we're
• 24:40
  going to end the battle against crypto that was happening with
• 24:44
  the previous administration. And he kept all those promises.
• 24:47
  And then right after you had Senator Lummus, of course, go
• 24:50
  out on stage and talk about Bitcoin Act 2.0, you had Brian
• 24:54
  Armstrong. I saw a clip of him on X the
• 24:57
  other day basically making the close from passing the clarity
• 25:02
  act Am I off? I got you.
• 25:03
  I got you dude. We are this close from passing
• 25:06
  the clarity Act, right? So again, like this is all
• 25:10
  extremely promising, like this is all a very, very good
• 25:14
  developments. I think the only thing that
• 25:16
  caught a lot of us completely off guard is the fact that you
• 25:20
  had the most bullish year in bitcoins history.
• 25:24
  From a historical perspective, from a news perspective, this
• 25:28
  has been incredible. These are the things we dreamed
• 25:31
  about. These are the things we talked
• 25:33
  about for years, but it just never came to fruition.
• 25:37
  Now they're here, now they're here.
• 25:40
  The things are actually happening right now.
• 25:42
  The only thing that hasn't reflected that, of course, has
• 25:45
  been the price, but I think that's going to catch up.
• 25:49
  And we have a fantastic article explaining why the price has not
• 25:54
  performed the way it has. And the logic on it is very,
• 25:57
  very sound, right? So I think we're in uncharted
• 26:00
  territory. This is the first October, the
• 26:02
  last October that just happened. We're in November now.
• 26:05
  This is the first October, the year after the halving, that
• 26:08
  Bitcoin hasn't gone up. We had a red October.
• 26:11
  That's never happened before, so we're already in uncharted
• 26:14
  territory. One of the things that made me
• 26:17
  uncomfortable in the beginning of the year was the fact that
• 26:19
  everybody and their mother thought that Bitcoin was going
• 26:24
  to RIP, that everyone thought that that was the general
• 26:28
  consensus. But if you know about markets,
• 26:31
  what do markets tell you? Markets do the exact opposite of
• 26:35
  what everybody thinks. So what did Bitcoin do?
• 26:39
  It did the exact opposite of what everybody thinks.
• 26:41
  Now, what is the general consensus now?
• 26:44
  The general consensus now is that hey Nico, Bitcoin topped
• 26:49
  everyone's feeling fear, right? You don't feel fear at the top
• 26:53
  of a bull market. That's not the way it works.
• 26:55
  You feel euphoria, right? You feel like a genius, right?
• 26:59
  Everyone thinks, Oh my God, look at the cycles going to end in a
• 27:02
  month or two. It's over, pack it up.
• 27:05
  No one is thinking that potentially Bitcoin is in
• 27:09
  uncharted territory and this thing might keep keep ripping
• 27:13
  into 2026. Even saying that feels taboo.
• 27:16
  Even saying that feels uncomfortable.
• 27:18
  Could you imagine March of next year and Bitcoin is at 150 K and
• 27:23
  it's still ripping higher. It's unconceivable.
• 27:26
  We could not have even imagined that because we're so used to
• 27:30
  this four year cycle that we've only had three data points on
• 27:34
  There's only been three data points on the four year cycle.
• 27:37
  And I would I would leave out 2013, 2014 because the really
• 27:41
  the big two ones were 2017 and 2021.
• 27:45
  So, I mean, again, it's not that many data points for you to like
• 27:49
  seriously say that, hey, Bitcoin has to stick to the cycle and
• 27:53
  things have changed, right? Like the halvings don't play
• 27:57
  such a big role anymore. Though remember we got a all
• 28:00
  time high before the halving this.
• 28:01
  Time as well, it was different. The ETFs are in the game.
• 28:04
  Governments are accumulating Bitcoin like the Kingdom of
• 28:07
  Bhutan in the Himalayas. 1/3 of their GDP is in Bitcoin.
• 28:11
  They're using all of that excess energy from that from you know,
• 28:15
  from hydro, those rivers that are coming down from the
• 28:17
  Himalayas, those glaciers and they're turning that into
• 28:20
  Bitcoin like it's insane right. So you're saying that all of
• 28:23
  these things are happening, right all of these things, all
• 28:25
  these things I just painted the picture for you, right a pro
• 28:28
  Bitcoin administration. You have nation states
• 28:31
  accumulating Bitcoin. You have nation states mining
• 28:34
  Bitcoin right You have you know, Michael Saylor's company, the
• 28:38
  best performing, you know, company in the NASDAQ about to
• 28:41
  be added into the Fortune 500 right You have Coinbase that was
• 28:44
  added into into the Fortune 500. So again, you have all the stars
• 28:51
  and planets aligning. And when Trump was inaugurated,
• 28:55
  the first pro Bitcoin president, the price was at 109 K 11 months
• 29:01
  later, the price is at 107 K. And you're telling me you're
• 29:05
  bearish? You're telling me you're
• 29:07
  bearish. Like, use logic for a second.
• 29:09
  If you use logic, it doesn't make sense.
• 29:12
  It doesn't make sense. Now, again, we're going to go do
• 29:15
  a deep dive into why the price down.
• 29:20
  We're going to do a deep dive into that.
• 29:22
  And I think the art, the, the article that was laid out was
• 29:25
  fantastic. And then we're going to be
• 29:27
  talking about 2026. And of course, during the
• 29:30
  culture segment, we're going to be talking about the vibes
• 29:33
  because we got to talk about the vibes, bro, because October, I
• 29:36
  think was a very, you know, a, a, a, a year of a month better
• 29:42
  said, because it's not a year, it's a month, a month of, of
• 29:46
  looking within, of finding yourself as a bitcoiner.
• 29:49
  I think that's what October represented, man.
• 29:51
  You know, October was this month that everyone was expecting
• 29:55
  euphoria and happiness. And that's not what happened.
• 29:58
  What happened was pain. But The thing is, when you feel
• 30:01
  pain, you learn something. It forces you to look within.
• 30:05
  It forces you to really look at your decisions and say, did I
• 30:09
  make the right decision? Did I make the right call?
• 30:12
  Right? So anyways, I've never felt so
• 30:14
  bullish as I feel today, and I think we needed to go through
• 30:19
  what we went through in October to learn from it, right?
• 30:22
  To remember that having expectations in Bitcoin is a
• 30:26
  horrible idea and to remember that staying humble, stacking
• 30:30
  stats and staying solvent, it is always the best idea.
• 30:34
  Anyways, guys, we're going to have a fantastic show lined up
• 30:36
  for you guys. It's going to be incredible.
• 30:38
  If you guys are enjoying today's show so far, make sure to smash
• 30:42
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• 30:44
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• 30:48
  Smash the like button really, really helps push this message
• 30:51
  forward. And of course, shout out to the
• 30:52
  Rumble audience as well. Coming in strong.
• 30:55
  We absolutely love the Rumble platform here at simply Bitcoin.
• 30:58
  And of course, shout out to the X audience.
• 31:00
  And if you're listening to us on on your favorite podcasting
• 31:04
  platform, make sure to like the show, leave a comment, share The
• 31:08
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• 31:10
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• 31:15
  Help us break 170 like 75 likes within the 1st 45 minutes of the
• 31:21
  show. All you gotta do is smash that
• 31:22
  like button. Anyways guys, stay tuned.
• 31:24
  We still have tons to cover. But before we do that, I do want
• 31:27
  to give a incredibly special shout out of course to our lead
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• 32:42
  start the show. We have tons to get to today.
• 32:44
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  time. All right everybody, let's get
• 34:35
  to today's numbers. At the time of recording,
• 34:37
  Bitcoin price is $107,380. Block Height 922,070 7 Market
• 34:44
  cap 2.14 trillion Bitcoin versus Gold Market cap 7.57% Decline
• 34:50
  from all time high Bitcoins down 15% from the top 15% Hurts a
• 34:57
  little bit hurts a little bit stings.
• 34:58
  Just a little bit. Stings a little bit.
• 35:00
  A little bit. Anyways, I do want to pull up
• 35:03
  these tweets because again, I keep seeing them.
• 35:06
  I keep seeing this, this. This could be the coat, this
• 35:09
  could be the cope. Just you know, this is not
• 35:12
  financial. Advice.
• 35:12
  We're totally coping. This is not financial advice.
• 35:14
  This could be the cope. But anyways, here's here's plan
• 35:18
  C. This is the three very important
• 35:21
  years for Bitcoin 2024, the year of the ETF. 2025, Bitcoin's
• 35:28
  quasi IPO parentheses. Oh geez, take profits.
• 35:33
  We're going to get to that. We're going to do a deep dive
• 35:35
  during the news segment on that specific topic.
• 35:38
  And 2026, the year of the four year cycle narrative breaking,
• 35:44
  so the end of the four year cycle.
• 35:46
  Now, the reason I'm highlighting this, ladies and gentlemen, is
• 35:49
  it's against consensus. It's against consensus.
• 35:54
  Talk about four year cycle. And even if you think about it
• 35:57
  for a second, you're watching the show right now.
• 36:00
  And I'm talking about no, dude, it's different this time, this,
• 36:04
  this time's different, you know, like it.
• 36:07
  And I'm telling you, dude, picture 150K in March and not
• 36:11
  financial advice. What, what do you what, what is
• 36:13
  your, what is your innate reaction?
• 36:16
  Your innate reaction is probably like what Opti just did.
• 36:20
  That's impossible. No way.
• 36:23
  This is a cycle, bro. We topped 12676K.
• 36:28
  It's over. It's done right.
• 36:30
  That's like your innate reaction, that's your gut
• 36:32
  reaction to this, especially if you've been, I love the comment
• 36:37
  Nicopium, love it. But if you've been in this
• 36:40
  industry for a while, I think it's Nicopium.
• 36:43
  Nicopium. If if you've been in this
• 36:45
  industry for a while, it doesn't sound too crazy like it.
• 36:49
  What what I'm saying like is just like, no, you, you, you
• 36:52
  understand, like this is a four year cycle.
• 36:54
  The year after the halvings or whatever, it's a parabola blows
• 36:57
  off top. The thing resets, then three
• 37:00
  years of bear and then it the cycle repeats.
• 37:02
  The thing is that never happened.
• 37:05
  That never came to fruition. And again, if you look at the
• 37:08
  fundamentals, if you look at the success of the guys, the Bitcoin
• 37:14
  BlackRock ETF is the most successful ETF in history.
• 37:19
  It's one of the most no, I think it is Blackrock's most
• 37:22
  profitable. It is.
• 37:24
  Yeah. So, yeah, I mean, if you look at
• 37:26
  the fundamentals, they're telling you a story.
• 37:28
  Now, what's really interesting is I actually saw, I don't know
• 37:31
  if I have the clip. I do have the clip.
• 37:32
  I have a clip of Peter Thiel and he was talking about this and
• 37:37
  he's actually saying, hey, look, you know, the Black Rock, Black
• 37:41
  Rock getting involved in Bitcoin isn't actually a positive thing
• 37:46
  and actually the upside is limited, right?
• 37:49
  So he did say that I'm going to pay you guys a clip.
• 37:51
  At the same time, he did admit that he wish he bought more.
• 37:55
  So he's been wrong about this in the past, but I want to play you
• 37:59
  guys this clip 'cause I think it's very interesting and the
• 38:01
  mean and opt you're going to talk about it.
• 38:03
  'Cause another investment that you've made and been very public
• 38:05
  about is Bitcoin, and you have remained a very big ball.
• 38:11
  You have come out publicly and you said that enemy number one
• 38:15
  to Bitcoin is the sociopathic grandpa from Omaha that you
• 38:20
  described as Warren Buffett. Can you tell me what you were
• 38:24
  thinking when you said that? It got a lot of laughs.
• 38:28
  So somehow people, it probably had some kind of a some kind of
• 38:32
  a nerve, but it it was it the the, you know, the in in it was
• 38:42
  in in a 2022 Bitcoin convention talk I gave and and the I had
• 38:49
  there were there were three separate enemies.
• 38:51
  There was a Jamie Dimon. Larry Larry Fink, who's no
• 38:54
  longer an enemy, by the way. Yeah, he sort of he sort of
• 38:56
  shifted with maybe that maybe I maybe let's I can save the man
• 39:00
  to Larry Fink things too. But and then there was, and then
• 39:03
  there was Warren Buffett and the, the, the rough context was,
• 39:08
  you know, I, my, my, my sort of political, sociological analysis
• 39:12
  was the crypto currencies were, it was a revolutionary youth
• 39:15
  movement. But for them to really take
• 39:17
  over, you needed, you needed, it couldn't just be a student
• 39:22
  uprising like 1968. You needed to get the rest of
• 39:25
  the society on board and and as long as the old people were
• 39:30
  going to sit on their hands, that was the big blocker for for
• 39:34
  cryptocurrencies to to go to the next level and are.
• 39:38
  You still convinced? I, I think it's gotten partially
• 39:41
  unlocked with the, the, the, the, the Bitcoin ETF.
• 39:49
  But then there, you know, probably the, the part where I'm
• 39:53
  less less convinced of is this, this question of the sort of
• 39:58
  ideological founding vision of Bitcoin or these crypto
• 40:02
  currencies as sort of a, you know, a cypherpunk crypto
• 40:07
  anarchist, libertarian, anti centralised.
• 40:11
  Government thing, you know, this is always, you know the.
• 40:12
  Line. What got you interested?
• 40:14
  In that's what, that's what I, that's what I, that's what I
• 40:17
  thought was terrific about it. And, and then, you know, the
• 40:20
  question is, does it really work that way or, you know, has that
• 40:23
  thread somehow gotten lost? And so when people in the FBI
• 40:26
  tell me that they'd much rather have criminals use Bitcoin than
• 40:30
  $100 bills, it suggests that maybe, you know, maybe it's not
• 40:34
  quite not quite working the way it was supposed.
• 40:36
  To have you sold any of your Bitcoin?
• 40:38
  I, I still hold some. I, yeah, I, I, you know, there
• 40:43
  are all these ways. I, I, I didn't buy as much as I
• 40:45
  should have. And I, I, I'm, I'm, I'm, I'm not
• 40:52
  sure it's going to go up that dramatically from here.
• 40:55
  From here. Yeah, I think we got the, we got
• 40:57
  the ETF edition and I don't know who else, who else buys it
• 41:01
  quickly from here? Some interesting investment
• 41:04
  advice that that that actually surprised me because I, I don't
• 41:08
  think I've heard you. I thought you were still all in
• 41:11
  it. It I still have a small position
• 41:15
  it it probably still can go up some, but it's going to be a
• 41:18
  volatile bumpy ride And and I am I'm I I was I had a dual dual
• 41:24
  reason 1 was the sort of, you know, ideological decentralized
• 41:28
  future of computing world that I I really do believe in, really
• 41:32
  believe would be would be better.
• 41:33
  And it seemed like the perfect vehicle for that for for such a
• 41:37
  long time. And I'm I am just much less
• 41:39
  convinced of that. And so I so maybe so maybe maybe
• 41:42
  maybe Larry Fink with the BlackRock ETF surrendered to the
• 41:47
  forces, the anti ESG forces or maybe it's it's more like
• 41:52
  bitcoins been Co opted by by them and I I worry it was more
• 41:56
  the. Oh oh shot across the bow bro.
• 42:02
  What do you think? What do you think?
• 42:03
  He said a couple things to unpack there.
• 42:06
  He loved the cypherpunk revolution initially and he sees
• 42:13
  that cypherpunk revolution dwindling.
• 42:17
  I agree with them there. And then he claimed he's like
• 42:21
  might have been Co opted by the fellas over at Black Rock.
• 42:27
  And he did name drop Larry Fink a couple times.
• 42:31
  You know, so I don't know Opti. What do you think?
• 42:34
  You know, the reason I'm saying it this way and with this tone
• 42:37
  is it's almost as if Peter Thiel was watching you.
• 42:40
  Talk about is was watch. Yeah, well, first of all, how
• 42:54
  hard can I go? I'm Peter Thiel here cuz.
• 42:56
  I mean, we just, we gotta remember that.
• 42:58
  Yeah, I know. I'm on YouTube, I mean.
• 42:59
  Specific platforms. All right, so I mean, my my take
• 43:03
  on my initial take is like bro, like today junior.
• 43:08
  I mean, I don't know if that's if that's mean to say, but I I'm
• 43:12
  not the biggest fan of Peter Thiel.
• 43:14
  One, it's like an extremely hard to listen to him, you know,
• 43:18
  stutter through everything. I know he's like super smart and
• 43:21
  everyone says he's super smart, but he doesn't sound that smart
• 43:24
  personally from my my perspective.
• 43:26
  I think he's a genius. I just think that he's.
• 43:28
  Not a very good orator I don't know about.
• 43:31
  All I think he's a really smart. Guy maybe potentially, but my
• 43:34
  second take on this is, is it is a little more cynical and more
• 43:39
  like a troll. If Peter Thiel doesn't like
• 43:41
  Bitcoin anymore, I'm kind of OK with that.
• 43:43
  Like I'm totally, I'm like, all right, cool.
• 43:46
  Like we're doing exactly what we're supposed to do.
• 43:48
  Like I have a little position, but I don't think it's going to
• 43:50
  do anything, you know, so he's not investing that much in.
• 43:54
  I'm like, I am totally OK with all that.
• 43:56
  Like I am fine with, you know, the PayPal friend group not
• 44:02
  being that big into Bitcoin. I'm like, I'm totally OK with
• 44:07
  this. I'm, I'm 100% fine.
• 44:09
  This doesn't scare me at all. I think he does kind of have a
• 44:11
  point there with this whole idea.
• 44:13
  Since the Wall Street got into Bitcoin or you know Wall Street
• 44:16
  institutions got into Bitcoin, there is a lot to be said about
• 44:20
  maybe they are taming Bitcoin in in terms of price.
• 44:24
  I don't. I don't think that's what he
• 44:25
  meant. No, I know, I know.
• 44:26
  That's what I'm saying. I think he, I think he meant.
• 44:29
  I know we've actually brought this up.
• 44:31
  Yeah, I know. I, I, I, that's what I'm saying.
• 44:34
  Like I know what he's saying. What I'm saying is I think there
• 44:39
  is something to the idea that they are taming Bitcoin in terms
• 44:44
  of price because these asset managers, they want stability.
• 44:47
  And we're, and we're going to talk about this in a minute
• 44:49
  after we read this, you know, IPO article that really went
• 44:52
  fire on Friday. And so I, I think there is a, a
• 44:57
  point to what he's saying. And I've been saying it on the
• 45:01
  show, guys. I also kind of agree with this
• 45:04
  whole idea of like is Larry Fink, at least I've, I've been
• 45:07
  speculating on it. I, I've, you know, reflected on
• 45:10
  it. I have, you know, been doubting
• 45:12
  what are we doing, what we are doing?
• 45:14
  Is this actually what we thought it was like?
• 45:16
  I think all of us have had these doubts this year, but it is
• 45:21
  becoming very clear that there is kind of like A2 tier Bitcoin
• 45:26
  system that's being kind of proliferated right now.
• 45:28
  It's like if you have Bitcoin in Wall Street, I love how Adam
• 45:31
  O'Brien calls it captured Bitcoin.
• 45:33
  To me, I think that's the best framing is, is if your Bitcoin
• 45:37
  is in Wall Street products and you are giving up your keys for
• 45:39
  that Bitcoin, then I would kind of agree that Bitcoin is Co
• 45:43
  opted. But when you look at the
• 45:45
  numbers, the majority of Bitcoin is still held in self custody.
• 45:49
  And that's what makes me think, OK, yeah, they, they are
• 45:52
  incentivizing a lot of people to swap their Bitcoin for Wall
• 45:56
  Street products. And I don't know if you guys saw
• 45:57
  the number, but the month of October, we saw about 400,000
• 46:01
  coins hit the exchange from OGS. Like that's a ton of coin that
• 46:05
  hit the exchanges and the price is still above 100K.
• 46:08
  So you, you can argue that people are selling out maybe
• 46:12
  because of that whole, you know, they're they're done with the
• 46:14
  libertarian ethos. They think it's been Co opted or
• 46:17
  it just does go to show what we're about to cover in a minute
• 46:20
  is, you know, the the ones that took the risk are now being able
• 46:24
  to upgrade their lives and you can't really be that mad about
• 46:26
  it. So I, I, I see what he's saying
• 46:30
  that yeah, it potentially it does look like Bitcoin is being
• 46:34
  Co opted. But I think this is what it
• 46:36
  looks like when something becomes mature, when people look
• 46:39
  at Bitcoin, it's no longer just this wild child, the speculative
• 46:43
  asset, like don't touch it. We can take the market, we can
• 46:47
  pump the markets. Now Bitcoin is holding very
• 46:50
  strongly above $2 trillion of a market cap.
• 46:53
  So people with literally these institutions don't even look at
• 46:57
  an asset if it's not $2 trillion.
• 46:59
  Now we've been holding up about $2 trillion for over a year.
• 47:02
  They're finally looking at it. They, they can, they finally
• 47:05
  feel comfortable investing in Bitcoin.
• 47:08
  So I, I think it's just like a transitory time right now where
• 47:13
  there is this transition and it's hard to really see what is
• 47:19
  a signal from the noise. But again, I just kind of go
• 47:21
  back to if, if Peter Thiel's no longer liking Bitcoin, I'm, I'm,
• 47:25
  I, I think we're doing it right that.
• 47:27
  That's your, that's your, that's your indicator, right?
• 47:29
  That's my indicator. Look, Peter Thiel's feeling
• 47:32
  bearish, limited. I'm bullish.
• 47:36
  Yeah, so 100%. So does that mean you're on the
• 47:38
  side of of Larry then? Yeah, Uncle Larry, pop my bags.
• 47:44
  So we're, we're Larry fans, dude.
• 47:46
  We're not Peter. We're not Peter fans.
• 47:49
  I mean, dude, Larry is literally the real president of the US.
• 47:52
  So yes, I am a Larry fan and I, I don't want to see Peter Thiel
• 47:56
  become the president of the US. OK, I, I see what he's doing
• 47:59
  with Palantir. I'm not that comfortable with
• 48:02
  it. So I'd rather have Larry.
• 48:03
  At least we know the old boss and what he's about versus the
• 48:07
  new boss that's going to really walk us into a digital pinout,
• 48:11
  alright? We're going to pivot the
• 48:12
  conversation, guys. I ran into this fantastic
• 48:16
  article that if you were on Bitcoin Twitter or Bitcoin X,
• 48:19
  however you want to call it, you're going to find it
• 48:22
  fascinating. And it breaks down precisely the
• 48:25
  reason as to why we didn't get an explosive 2025 that we were
• 48:31
  all expecting for. So basically, they're making the
• 48:34
  case that Bitcoin had its IPO moment, right?
• 48:38
  So we have the clip from the Anthony Pompliano podcast and we
• 48:41
  have the Subsect article to go along with it.
• 48:43
  We're going to have a deep dive into it.
• 48:45
  I think it's fascinating. I think it's a great explanation
• 48:49
  as to why this last year things have been acting strange and
• 48:54
  different in terms of price. So anyways, we're going to play
• 48:57
  it once we get back from the break, we're going to be right
• 48:59
  back in just a bit. I want to give a shout out to
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  Scan the QR code on your screen or check the link in the video
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  slash podcast description. All right, everybody, let's jump
• 52:28
  straight into what I'm talking about it.
• 52:30
  I mean, what I'm what I'm going to talk about today during the
• 52:32
  news, but first I'm just going to play you guys the clip from
• 52:36
  the Anthony Pompliano podcast and then we'll get into the
• 52:38
  article. Every possible thing to everyone
• 52:43
  listening that you would want for Bitcoin is happening right
• 52:47
  now, meaning the government is supporting things.
• 52:51
  The financial guardrails are shifting.
• 52:53
  We've got news after news every single day about the financial
• 52:57
  guardrails becoming more digital economy, things that are
• 53:00
  necessary for the network effects to kick in.
• 53:03
  All of that has happened. We still see inflows from
• 53:05
  retail. We still see the banks now
• 53:07
  opening it up for people to go through, but there's clearly a
• 53:11
  bunch of whatever it is, OGS, Bitcoin miners out of China,
• 53:14
  whoever it is, large amounts. Mike Novogratz publicly said it.
• 53:18
  If you go back to July, there have been billions and billions
• 53:21
  of dollars of let's say original investors supporting Bitcoin
• 53:26
  regardless of how you want to term it.
• 53:28
  So I'm writing a a sub stack. I think what people should think
• 53:31
  about is we don't have an IPO for Bitcoin, but this last four
• 53:36
  months to me feels like sourcing the pricing of the IPO where
• 53:41
  the, where the original investors are getting out of
• 53:44
  large chunks. Now, why is there ever an IPO
• 53:47
  for monetization? If someone has 9 billion in
• 53:51
  Bitcoin, I, I mean, I think they should diversify a little bit.
• 53:56
  If it was related to China, guess what China has now that
• 53:59
  they haven't had since 2014. Fifteen, a bull market in
• 54:04
  stocks. Guess what else people have,
• 54:07
  well, they have the chance to invest in AIAI is A10 bagger.
• 54:11
  In many cases, you've been able to do it in the public markets.
• 54:14
  So I think at some point Bitcoin becomes a boring asset to people
• 54:17
  who are looking for three baggers, 4 baggers, 5 baggers.
• 54:20
  It becomes a diversification. So I think this is just a, a, a
• 54:24
  distribution of a few massive holders.
• 54:27
  And the weaknesses I have heard about Bitcoin as I've gotten
• 54:31
  into it from institutions, it's too volatile, not too volatile
• 54:35
  anymore. We've taken the implied
• 54:36
  volatility and the actual realized volatility down to 30
• 54:40
  and below in some cases. So the Vols come down.
• 54:43
  OK, what's the next thing? Well, it's too concentrated in
• 54:46
  ownership. I mean, I've gone through the
• 54:47
  numbers. When you add Satoshi's wallet,
• 54:49
  you add the other whales you're talking about.
• 54:50
  About 1/3 of it has been owned by not many people.
• 54:53
  I think like 10,000 is the number I heard.
• 54:55
  Regardless of what the right answer is, every every month the
• 54:59
  Bitcoin I did outstanding shares goes up.
• 55:02
  It's up again this month even though the price is down.
• 55:04
  So I think everyone that's depressed has actually become
• 55:07
  entitled. I think they they think it's a
• 55:09
  risk asset. Oh, there's another one.
• 55:11
  This is just a risk asset. OK, well, it's not going up with
• 55:13
  the NASDAQ, so that's good. Lower correlation.
• 55:16
  Well, it's just digital gold. Well, it's not going up with
• 55:18
  gold. So guess what?
• 55:20
  In portfolio theory, for everyone who hasn't bought any
• 55:22
  yet, I think with your stocks, with your gold, with your bonds,
• 55:25
  now there's every argument to make.
• 55:27
  It's lower volatility now, lower correlation with the other
• 55:30
  traditional asset class, diversification from gold.
• 55:33
  I think this thing is going to move higher.
• 55:35
  I was wrong about where I thought we'd be at this point.
• 55:38
  It's still up for the year. I think once this consolidation
• 55:41
  is done and we're through the IPO process and the fundamentals
• 55:44
  take over next year, once we get through Clarity and the
• 55:47
  beginning of tokenization and the stories of Zell and
• 55:50
  everything along those lines, I think we're going to have an
• 55:52
  acceleration. So interesting thesis, right?
• 55:56
  And I just, I want to pull this up.
• 55:57
  It's a comment from someone that says Rivers Research.
• 56:00
  Could you do a wide shot? Up to you.
• 56:02
  Rivers Research estimates that of as of August 25th, 2025,
• 56:07
  individuals hold about 65.9% of BTC or 13.83 million points.
• 56:16
  It's never happened before. And again, the part where, you
• 56:21
  know, we saw this with Mike Novogratz, how he publicly
• 56:24
  talked about how there was someone that came to him that
• 56:27
  sold about $80,000 worth of Bitcoin, you're seeing.
• 56:31
  Basically the no, it was like 9 billion, nine billion.
• 56:33
  It was like 80,000 coins. And you're seeing here basically
• 56:37
  this this, you know this this individual, you know Kefi boy
• 56:41
  talking about Rivers research estimates out of August 25th,
• 56:44
  individuals hold the majority of it before and we're going to get
• 56:49
  to it says this it talks about the store in the article, but
• 56:51
  before there was no liquidity, right?
• 56:55
  So if you were an OG and you had billions of dollars worth of
• 56:58
  Bitcoin and 2021 if unloading that you would have tanked the
• 57:03
  market, right? There was no one buying.
• 57:06
  There were no mechanisms, there were no ETF inflow.
• 57:10
  You couldn't do it if you wanted to.
• 57:12
  Right now it's different. You have Larry Fink that Opti's
• 57:18
  a fan of, you know, buying it instead, right?
• 57:21
  You had the ETFs basically coming in and even now, right?
• 57:25
  We've gone from 126 K, We're currently sitting at 107 K.
• 57:30
  Maybe the bull market is over. Maybe we've peaked, right?
• 57:34
  I don't think so. I don't think that's the case,
• 57:36
  but I could be wrong, right? Could be wrong.
• 57:37
  We're all expecting October. I think we're just taking a day,
• 57:40
  one day at a time. But I thought this article was
• 57:43
  fascinating and it was written by this individual and he.
• 57:48
  Geordie Vizner, Pfizer. And he is basically describing,
• 57:52
  you know, what happened, right? So we're going to check it out.
• 57:56
  So you guys could, you know, you guys could check it out
• 57:58
  yourself. I'm going to put it in the
• 57:59
  Rumble and YouTube chats. I'm putting it in the chats
• 58:03
  right now. I really suggest you guys read
• 58:06
  the article and put it in the Noster chat as well.
• 58:09
  And Opti, if you could put it in the Twitter chat, I'd
• 58:12
  appreciate. I don't know why it's not
• 58:13
  sending for me on Noster. So if you want to put it on
• 58:15
  there. But anyways, I really recommend
• 58:17
  reading this article. I thought it was fascinating,
• 58:20
  really, really well written, but let's check it out.
• 58:23
  So it's called bitcoins silent. Could you make it wide shout out
• 58:26
  to because it's weird when I'm just looking down on my
• 58:28
  computer. Bitcoins silent IPO why this
• 58:32
  consolidation isn't what you think the quiet liquidity event
• 58:37
  reshaping bitcoins ownership base and its future stability.
• 58:42
  So the Twitter community is filled with this very anxious
• 58:45
  question. Why isn't BTC pumping with
• 58:49
  everything else? We have Bitcoin ETFs that launch
• 58:53
  successfully and see inflows every month.
• 58:56
  Institutional adoption is accelerating.
• 58:59
  The Genius Act pass. The Clarity Act is coming soon.
• 59:03
  There's no regulatory crackdown, no major hack, no fundamental
• 59:08
  narrative breakdown. Everything that was supposed to
• 59:11
  matter happened. Yet here we are watching every
• 59:16
  other asset rally while Bitcoin treads water.
• 59:20
  What if every everyone is looking at this wrong?
• 59:23
  What if Bitcoin isn't broken? What if it's finally having its
• 59:27
  stratified version of an IPO? Moving on?
• 59:34
  On a recent Galaxy Digital earnings call, Mike Novogratz
• 59:38
  announced Galaxy has sold $9 billion worth of Bitcoin for one
• 59:43
  customer, $9 billion. Think about that number for a
• 59:47
  moment. That isn't retail panic.
• 59:50
  That isn't some trader getting shaken out.
• 59:52
  This is one of the OG players in the space methodically exiting a
• 59:58
  massive position. But they're taking profits.
• 1:00:01
  They're realizing gains. They're doing exactly what early
• 1:00:05
  stage investors are supposed to do when an asset matures and
• 1:00:09
  liquid and liquid. And liquidity finally exists to
• 1:00:14
  support large exits. For the first time ever, you can
• 1:00:19
  actually exit your position without doing it.
• 1:00:26
  I got you. They're doing it during a risk
• 1:00:29
  on environment specifically because that's when buyers have
• 1:00:33
  capital selling into strength elsewhere.
• 1:00:37
  That's just smart business. This is what the OG whales have
• 1:00:40
  been waiting for. Not price, price.
• 1:00:43
  They've already had liquidity, market depth, and the ability to
• 1:00:48
  actually exit. The mission is accomplished.
• 1:00:51
  Bitcoin proves itself. Now comes the reward.
• 1:00:56
  Buyers are stepping in, just not aggressively, just not
• 1:01:00
  emotionally. They're accumulating patiently
• 1:01:03
  waiting for the distribution to complete.
• 1:01:08
  You're good, dude. This is the exact pattern you
• 1:01:11
  see after a major IPO when lock up periods expire, the stock
• 1:01:16
  doesn't crash. It consolidated.
• 1:01:18
  Let me share the screen. Sorry guys, I don't know what's
• 1:01:21
  going on with our streaming software.
• 1:01:23
  Anyways, thank you Opti. Oh, this is the exact pattern
• 1:01:28
  you see after a major IPO when lock up periods expire, the
• 1:01:33
  stock doesn't crash. It consolidate the changing of
• 1:01:39
  the guard. This transition is profound, and
• 1:01:42
  it deserves recognition. Bitcoin was born from an
• 1:01:46
  ideology. It was created by cypherpunks
• 1:01:50
  who believed in decentralization and freedom from government
• 1:01:53
  control and mathematical certainty over institutional
• 1:01:57
  trust. The early adopters were rebels,
• 1:02:01
  outcasts and visionaries who saw what others couldn't.
• 1:02:05
  Those people are being made whole.
• 1:02:07
  They're passing the torch, and the torch is being received by
• 1:02:10
  entities who care less about ideology and more about returns.
• 1:02:15
  BlackRock doesn't care about being your own bank.
• 1:02:18
  They care about portfolio diversification and risk
• 1:02:22
  adjusted returns. Is that a loss?
• 1:02:24
  In some ways, yes. Bitcoin will probably never
• 1:02:28
  again have that radical energy in it that it had in its early
• 1:02:31
  days. The days of 100 X returns in a
• 1:02:34
  single year are likely over. The volatility that created life
• 1:02:38
  changing wealth will moderate as ownership becomes more
• 1:02:42
  distributed. But it's also a victory because
• 1:02:45
  Bitcoin survived long enough to become boring.
• 1:02:48
  It succeeded so thoroughly that the original believers can
• 1:02:52
  actually cash out. It proved itself to the point
• 1:02:55
  where the most conservative financial institutions in the
• 1:02:58
  world are buying it. And more importantly, from a
• 1:03:01
  market structure perspective, this distribution is a normally
• 1:03:06
  enormously bullish long term. But as ownership distributes, as
• 1:03:11
  millions of investors hold smaller positions instead of
• 1:03:14
  thousands holding massive ones, the markets become structurally
• 1:03:18
  more stable. Think about it practically, If
• 1:03:22
  100 people own 50% of the supply and one person decides to sell,
• 1:03:27
  that's .5% of the entire supply hitting the market.
• 1:03:30
  That moves the price. But if 100 million people own
• 1:03:34
  50% of the sorry, 1,000,000 people own 50% of the supply,
• 1:03:38
  and 10,000 decide to sell, that's still only .5% of the
• 1:03:43
  supply. But it's spread across thousands
• 1:03:45
  of transactions at different prices through different venues.
• 1:03:49
  Over time, the impact is diffused.
• 1:03:52
  The stock becomes less volatile not because the company is less
• 1:03:56
  exciting, but because ownership structure is more robust.
• 1:04:01
  Each Bitcoin that transfers from concentrated hands to
• 1:04:04
  distributed hands makes the network more resilient, makes
• 1:04:08
  the price more stable, makes the asset more mature.
• 1:04:12
  Yes, the the this means the wild 10X years are probably behind
• 1:04:17
  us, but it also means the risk of a catastrophic collapse from
• 1:04:21
  concentrated selling is diminishing.
• 1:04:24
  A distributed holder base is what separates A speculative
• 1:04:28
  asset from a durable store from a durable store of value.
• 1:04:32
  It's what allows something to graduate from magic Internet
• 1:04:35
  money to global monetary asset. If this thesis is correct, and I
• 1:04:40
  believe the evidence is strong that the evidence strongly
• 1:04:44
  suggests it is, what could investors expect?
• 1:04:47
  First, patience. IPO distribution periods
• 1:04:51
  typically last 6 to 18 months. I think we are way past the six
• 1:04:56
  months in Bitcoin time for now, expect continued consolidation.
• 1:05:01
  Second, less volatility as ownership distributes.
• 1:05:05
  The violent swings that characterize previous cycles
• 1:05:08
  will moderate the draw downs. The 80% draw downs that used to
• 1:05:12
  be routine may become 50% draw downs, and the 50% draw downs
• 1:05:16
  will become 30% draw downs. The 10X rallies may become 3X
• 1:05:20
  rallies. I'll take it.
• 1:05:22
  This will disappoint degenerate gamblers and thrill risk
• 1:05:26
  managers. Third, the correlation with
• 1:05:30
  traditional risk assets will likely return, but only after
• 1:05:34
  this distribution phase completes. 4th, this is crucial.
• 1:05:39
  The sentiment will only improve after the distribution is
• 1:05:43
  substantially complete. Right now people are demoralized
• 1:05:47
  because they don't understand what phase we're in.
• 1:05:49
  We're waiting for Bitcoin to catch up to stocks.
• 1:05:52
  They're worried about the four year cycle.
• 1:05:54
  Be patient. Once the heavy selling pressure
• 1:05:57
  lifts, once the patient accumulation by institutions has
• 1:06:01
  absorbed the OG supply, the path becomes clear.
• 1:06:07
  Every revolutionary technology goes through this evolution.
• 1:06:11
  What's happening to Bitcoin right now isn't different.
• 1:06:14
  It's the same economic forces that have governed markets for
• 1:06:18
  centuries just playing out in a novel context.
• 1:06:22
  And here's the crucial insight that should give long term
• 1:06:25
  investor investors confidence. Once this distribution phase
• 1:06:28
  completes, Bitcoin will be structurally stronger than it's
• 1:06:33
  ever been. But the fundamentals are
• 1:06:36
  stronger than ever. And the structure, the
• 1:06:38
  distribution of holdings from concentrated to fragmented, is
• 1:06:43
  exactly what Bitcoin needs to graduate from a revolutionary
• 1:06:46
  experiment to a durable monetary asset.
• 1:06:50
  That's not a reason to despair, that's a reason to accumulate.
• 1:06:54
  Bitcoins. Volatility was the price of its
• 1:06:56
  birth. Its stability will be the proof
• 1:06:59
  of its adulthood. Fantastic article.
• 1:07:03
  Shout out to Jordy. Hopefully we get him on the
• 1:07:04
  podcast one day bro cuz that was that was excellent.
• 1:07:08
  Now again, this is a thesis right?
• 1:07:11
  This isn't a fact, so don't take it as a fact as a fact, but I
• 1:07:16
  will say the logic is sound because that's the thing that I
• 1:07:20
  keep hearing over and over and over again.
• 1:07:23
  When I ask people, you know, I just I, I, I had the honor of
• 1:07:27
  being able to interview Samsung and Adam and Adam back.
• 1:07:30
  These are people that have been in the industry since the since
• 1:07:33
  the beginning, right? And you know they're talking
• 1:07:37
  about it the same, same reasons like these are these are O GS
• 1:07:40
  that are selling right? And before, you couldn't sell.
• 1:07:44
  You couldn't sell without just tanking the market.
• 1:07:46
  And if you had $9 billion worth of an asset that you've been
• 1:07:49
  holding for 15 years, I mean, maybe you just sell 25% of it
• 1:07:56
  and upgrade your lifestyle, right?
• 1:07:58
  15 years. And you hear this over and over
• 1:08:00
  again. You hear about these stories
• 1:08:02
  about these coins that just been ceiling sitting silently in
• 1:08:07
  these addresses for more than a decade.
• 1:08:08
  And all of a sudden, they just become active, right?
• 1:08:11
  I want to know who those people are.
• 1:08:13
  I want to have a conversation with them, right?
• 1:08:15
  I want to be their friends. Even though we'll never know who
• 1:08:17
  they are, but you know, I think the logic is sound, man.
• 1:08:21
  I think Bitcoin potentially might be having its IPO moment.
• 1:08:26
  Potentially you have these O GS that are finally like look like
• 1:08:29
  I could sell without dropping the price 50%.
• 1:08:32
  I can become a billionaire. I can become a billionaire.
• 1:08:37
  I made myself a multi billionaire by investing 1000
• 1:08:41
  bucks or 100,000 bucks into Bitcoin in the early days.
• 1:08:46
  What a heck of an investment. Now here's the thing.
• 1:08:49
  You're hearing this and you're like, wow, Nico, like this is
• 1:08:51
  kind of depressing. You know, I I kind of like those
• 1:08:54
  10X days. I want 10X those 10X.
• 1:08:58
  Gains or those hundred X gains personally, and we've we've,
• 1:09:02
  we've shown you guys the data, right and we've shown you guys
• 1:09:06
  the the map and even with sailors projections, Bitcoin has
• 1:09:10
  more than 100 X in it. It's not financial advice, but I
• 1:09:13
  I think it's it's there. The only thing that's changed is
• 1:09:17
  the timeline, right? That's the only thing that's
• 1:09:20
  changed. Do I think it's it's going to be
• 1:09:23
  the best performing asset out of, you know, any type of
• 1:09:27
  traditional investment that you can make?
• 1:09:29
  Absolutely 100%. This is Infinity divided by 21
• 1:09:33
  million after all, right? And is any other asset going to
• 1:09:37
  give you, you know, every once in a while, you know, to use the
• 1:09:40
  articles on words a 3X in a year?
• 1:09:43
  I don't think so, right? That's unheard of.
• 1:09:45
  So yeah, man, I mean, I'm incredibly bullish.
• 1:09:49
  You know, I'm feeling bullish. This is, you know, Bitcoin is is
• 1:09:53
  still teenager, but it's about to hit adulthood, man.
• 1:09:56
  It's going to turn 18, you know, in one or two years.
• 1:09:59
  So it's, it's an adult now and we have to, we have to come to
• 1:10:02
  terms with that, I guess, right. Someone in the chat I'd be happy
• 1:10:06
  with just the gain. So yeah, man, I mean, excellent
• 1:10:11
  article, you know, great summer. It's great summary.
• 1:10:14
  Someone in the chat saying opium central but I think it's a great
• 1:10:18
  explanation. You must be new here.
• 1:10:20
  I I think it's a great explanation as to why, you know,
• 1:10:23
  what we thought was going to happen in 2025 didn't happen in
• 1:10:27
  2025, Opti. Yeah, no.
• 1:10:31
  So first of all, my boy Sal, you know, the unofficial trainer
• 1:10:35
  over here, he sent me this on, I believe it was Friday or
• 1:10:41
  Saturday or something like that. And I was like, cool, I'll add
• 1:10:43
  it to my homework. And I read this last night and
• 1:10:49
  like Nico said, it really didn't make me feel bullish, though I,
• 1:10:51
  I'm not going to lie, I, I felt my heart sink when, when, if
• 1:10:55
  this thesis is correct, no more 10X games.
• 1:10:58
  You know, me, I'm a, I'm a degenerate moon boy.
• 1:11:00
  I, I admit it. I, I was trying to hide it from
• 1:11:03
  you guys on the show, but I, I finally admit it, my dopamine's
• 1:11:06
  been cooked all year. I was hoping for some, you know,
• 1:11:09
  some, some fun back in the market, but I have been low key
• 1:11:13
  coping on the show as well where as someone that's all in, I am
• 1:11:17
  getting a little older. We do run a whole business on
• 1:11:19
  Bitcoin. The last bear market was
• 1:11:21
  absolutely brutal being completely all in.
• 1:11:24
  And if this thesis is correct, again, it is a thesis that
• 1:11:27
  we're, we're all just trying to make sense of what is going on.
• 1:11:31
  And, and to be honest, like this makes the most sense because I
• 1:11:33
  have been talking about a lot of the same similar things.
• 1:11:36
  I just didn't have the more trad FI experience to kind of frame
• 1:11:41
  this in an IPO sense. And if you guys, I highly
• 1:11:44
  recommend you read the whole article, It'll take you about
• 1:11:46
  like 10-15 minutes to read the whole article.
• 1:11:48
  We just kind of highlighted the main narrative so you guys could
• 1:11:51
  kind of get the picture of what it is.
• 1:11:53
  But it does make perfect sense, like from a more traditional
• 1:11:57
  view, you know, a more traditional trad fight educated
• 1:12:01
  perspective to what is happening now.
• 1:12:05
  It makes perfect sense that what we've been seeing all year is
• 1:12:08
  this distribution from, you know, the transition from the
• 1:12:11
  old guard to a new entrant into the market.
• 1:12:14
  Remember, I've been telling you guys this for months now that
• 1:12:16
  what we have to kind of wrap our heads around this last couple of
• 1:12:20
  months and we've all been trying to figure out what is going on.
• 1:12:23
  You know, obviously we were using some old paradigm to kind
• 1:12:27
  of explain what was going going on, but we all kind of forgot
• 1:12:30
  that there is a new entrant into the market, there is a new
• 1:12:34
  investor in the market and they are kind of bringing their more
• 1:12:38
  traditional investment tools to Bitcoin.
• 1:12:42
  And with that, we have been seeing literally millions of
• 1:12:46
  coins hit the exchange right now.
• 1:12:48
  And we saw last work two weeks ago, I believe 2 maybe 3 weeks
• 1:12:52
  ago, we saw that big news story come out about about 3 billion
• 1:12:58
  dollars in Bitcoin has been transferred into like in kind
• 1:13:03
  ETF redemptions. And of course JP Morgan just
• 1:13:06
  came out and said like we will collateral your Bitcoin.
• 1:13:09
  So you are seeing that Wall Street is incentivizing some,
• 1:13:12
  some holders in bitcoins and people that have been around for
• 1:13:15
  a long time to be like, hey, look, you have new found wealth,
• 1:13:19
  come use our products so that you can stop being basically
• 1:13:21
  poor and you can use your money. That's what this is all about.
• 1:13:25
  You can use your money. Anyways.
• 1:13:26
  The, the big take away I think from this is it does it is a
• 1:13:30
  perfect framework for what's going on because we have seen a
• 1:13:33
  lot of new coin wake up, or rather old coin wake up, you
• 1:13:37
  know, 2013, 2014, even some 2011 coins wake up, hit the
• 1:13:41
  exchanges. And for a while there was the
• 1:13:43
  narrative that, oh, these libertarians are selling out.
• 1:13:46
  They they believe, you know, kind of what Peter Tee was
• 1:13:48
  saying in the beginning, like they believe Bitcoin's been Co
• 1:13:50
  opted. You know, they're not happy with
• 1:13:55
  Larry Fink getting into Bitcoin and with the more data we've
• 1:14:00
  gotten it kind of shown to be opposite.
• 1:14:03
  They they're actually pretty excited to be using Wall Street
• 1:14:07
  products so that they can actually, you know, use their
• 1:14:10
  wealth in a way that would literally secure their family
• 1:14:15
  bloodlines for a long time. Yes, it's using Wall Street
• 1:14:18
  vehicles, which they kind of said they were going to, you
• 1:14:21
  know, that this whole thing was going to destroy.
• 1:14:24
  But anyways, I think the the big take away here.
• 1:14:26
  That was before they were billionaires.
• 1:14:28
  I know. Hey, a Bill a Billy might change
• 1:14:30
  my perspective a little bit too, but I think the big take away
• 1:14:36
  was the end of this. All right, so we've been talking
• 1:14:40
  about it and I've been thinking of better ways to explain to you
• 1:14:43
  guys what I see and what what I think is going on.
• 1:14:47
  Obviously, I've been joking for a long time.
• 1:14:49
  I'm a Bitcoin propagandist. I know my bias.
• 1:14:51
  I'm a Bitcoiner and I think Bitcoin is winning and it is
• 1:14:54
  going to win and I want to see more people holding Bitcoin.
• 1:14:57
  But I really like this framework because it does a couple of
• 1:15:00
  things. One, it tells you what's
• 1:15:01
  happening and it basically says like this is what's happening,
• 1:15:05
  this is what it means, and this is what you should be doing.
• 1:15:07
  And when you look at the end of that article, it did exactly
• 1:15:11
  that. What we're seeing is Bitcoin
• 1:15:14
  grow up, it's maturing. We've been talking about this
• 1:15:16
  all year. It's no longer just a
• 1:15:18
  speculative asset that all of the world's wealth is going to
• 1:15:21
  stay away from. It is now becoming an integral
• 1:15:24
  part of the traditional financial system.
• 1:15:26
  It's an integral part of people's portfolios, whether
• 1:15:29
  it's 1%, four percent, 1020, whatever the percentage is of
• 1:15:33
  your portfolio. Bitcoin has become a very clear
• 1:15:36
  diversifier. Like if you have wealth and you,
• 1:15:40
  as Larry Fink's been saying, and you're a little concerned about
• 1:15:42
  what your government might do or whether they're going to debase
• 1:15:44
  your your wealth, you probably want some Bitcoin.
• 1:15:47
  And so this is that transition period from, you know, as they
• 1:15:52
  were saying, the, the IP, the original investors in the IPO.
• 1:15:56
  Now it's maturing, now it's going up.
• 1:15:59
  I don't think it's necessarily saying, you know, like this
• 1:16:02
  revolution is over. Obviously that part where like
• 1:16:05
  we're only going to get 33X gains.
• 1:16:07
  It's like, oh man, dude, I really hope we got some 10X
• 1:16:10
  gains back in this because I, I, I don't know if my dopamine can
• 1:16:13
  handle that. I'll.
• 1:16:14
  Be honest with you. I think we will.
• 1:16:15
  It's just what things are just going to be elongated?
• 1:16:18
  Yeah, I, I agree with that. I I that's kind of what I was
• 1:16:21
  going to say. I think we still have them, but.
• 1:16:23
  What he was trying to say is like, you know, instead of
• 1:16:25
  having a 10X gain in every four years, no, a 10X gain.
• 1:16:28
  No, no, no, no, no. I I don't think he meant that.
• 1:16:30
  I think like. No, I meant I meant instead of
• 1:16:32
  having 10X100X games every four years it's just going to get
• 1:16:37
  spread out. I think it's going to, I, I
• 1:16:39
  think it's going to get spread out.
• 1:16:40
  I mean, like, look, like if you're in your 20s and your 30s,
• 1:16:43
  right, and you're looking into your 50s, you know, or even if
• 1:16:48
  you're in your 50s, right? And you're looking into your
• 1:16:51
  70s, right, like Michael Saylor's kagar, I mean, all of
• 1:16:55
  strategy, strategy, strategy wouldn't work unless you're
• 1:17:00
  getting that 30% CAGR. It it, it just wouldn't work out
• 1:17:03
  like all the, all the products that he's offering, right?
• 1:17:08
  Like there's a reason he's, he's promising a 10% return on some
• 1:17:11
  of those products, right? And he's promising that 10%
• 1:17:14
  return because he thinks that Bitcoin is going to perform
• 1:17:18
  better than that 10%, right? So he's assuming that 30
• 1:17:21
  percent, 30% return. Now you think like 30% like
• 1:17:25
  Nico, that's not that much. It's a lot if you compound,
• 1:17:29
  right. This is how Warren Buffett made
• 1:17:31
  the lion's share of his wealth, right?
• 1:17:33
  So again, you know, could sound like opium, could sound like
• 1:17:36
  opium, whatever you ever which way you want to phrase it.
• 1:17:39
  I've been at this for a long time.
• 1:17:41
  I've been here for a while and I, I will say is like, this is
• 1:17:47
  what we were, this is what we wanted, but this is what we
• 1:17:50
  wanted. Like we envisioned this world.
• 1:17:53
  This is what we wanted this year.
• 1:17:55
  We've, we saw it came to fruition.
• 1:17:58
  And I think that, you know, it's a, it's a, it's a, it's a very
• 1:18:05
  interesting pill to swallow, right 'cause I, I don't think
• 1:18:08
  we, we anticipated what would happen when you had the
• 1:18:13
  institutions coming in. I don't think we anticipated
• 1:18:16
  what would happen when you had the government's coming in.
• 1:18:19
  I think as Bitcoiners, we have been spoiled tremendously,
• 1:18:23
  right? I mean, like, if you think about
• 1:18:27
  it like the returns were just like ridiculous.
• 1:18:31
  They were. They were insanity.
• 1:18:33
  Yeah, we've just been outperforming all of Wall Street
• 1:18:35
  for the last 15-16 years. So like, and I still think, by
• 1:18:39
  the way, like I still think the ride up to 1,000,000, you know,
• 1:18:43
  I think it's going to happen within the next five to seven
• 1:18:46
  years, right? So that's a, that's a 10 bagger,
• 1:18:49
  right? Where else are you going to get
• 1:18:50
  A10 bagger? And again, not financial advice,
• 1:18:55
  not financial advice, but I mean, like, you know, you're,
• 1:19:00
  you're I, I don't think anything gives, gives that type of return
• 1:19:05
  from a risk adjusted basis, right?
• 1:19:07
  It you just don't see it, right? So, yeah, I mean, a lot of the O
• 1:19:11
  GS are cashing out. They're upgrading their
• 1:19:13
  lifestyles, they're living that billionaire lifestyle now.
• 1:19:16
  Sheds, you know. No, no.
• 1:19:19
  What was the take away of the article for everyone in in the
• 1:19:21
  audience? Accumulate, accumulate,
• 1:19:24
  accumulate. This is not the time to take
• 1:19:26
  your foot off the gas. It's like if this is, if this
• 1:19:29
  thesis is correct and you know, there are some people selling
• 1:19:33
  out, not, not in like the, the, the, the derogatory term of
• 1:19:37
  selling out, but like securing some of their profits, Then this
• 1:19:42
  is how the network does get stronger is by every single one
• 1:19:45
  of us basically buying up all those coins and we play the
• 1:19:48
  accumulation game. And the more people holding
• 1:19:50
  Bitcoin, the stronger it gets because then as we're seeing the
• 1:19:55
  market cap of Bitcoin continue to go up, we're never gonna get
• 1:19:58
  another bear whale type scenario.
• 1:20:00
  And that's like the the. It's like the China money.
• 1:20:02
  Exactly. And this is this is how the
• 1:20:06
  network does become more resilient is more people holding
• 1:20:09
  it less concentration and holders probably means no really
• 1:20:14
  harsh bear market where we're all losing 80% of our wealth
• 1:20:17
  that the less volatility does bring people in.
• 1:20:21
  The stability bring people in. It's bullish we're.
• 1:20:24
  Already down like 15%. All right, it's over.
• 1:20:28
  I do give a shout out to our friends over at Hive Digital
• 1:20:32
  Technologies. Hive just hit 23 EXA hashes of
• 1:20:37
  Bitcoin hash rate up 283% year to date and it's expanding to
• 1:20:43
  hosting 30,000 GPUGPUS for AI workloads.
• 1:20:49
  Bitcoin miners are evolving into the data centers of the future.
• 1:20:54
  So go check out Hive on the NASDAQ today.
• 1:20:57
  It's been performing extremely well.
• 1:20:58
  Again, not not financial advice there.
• 1:21:00
  You got a 5 bagger. I think 5 bagger in like a
• 1:21:03
  couple months man. If only I bought it.
• 1:21:06
  So yeah, go check out Hive. Anyways, guys, we're going to
• 1:21:09
  talk about the culture segment. We're going to vibe it out.
• 1:21:11
  Optiaspy's like, what? What are we going to talk about?
• 1:21:13
  Yeah. What are we going to talk about
• 1:21:14
  today? And.
• 1:21:14
  I'm like, we're going to vibe it out.
• 1:21:16
  We're going to vibe it out. So anyways, we're going to be
• 1:21:18
  right back and then we'll vibe it out and then we'll wrap up
• 1:21:20
  the show. We'll be right back in just a
• 1:21:22
  bit. I want to give a shout out to
• 1:21:25
  our partner Hive Digital Technology.
• 1:21:28
  Why Hive in 2025, unstoppable growth as the first ever public
• 1:21:33
  miner. Hive's position to quadruple
• 1:21:36
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  All right, we are back Opti. Let's vibe it out bro because I
• 1:23:30
  think October was a was a very deep month.
• 1:23:33
  Disappointing month. No, it was a very deep, it was a
• 1:23:36
  very deep month for us, bro. Like we went from, you know,
• 1:23:40
  starting the month strong. First of all, the government
• 1:23:43
  shutdown, right? You know, which I don't want to
• 1:23:46
  get into that, but basically the government shutdown, Bitcoin
• 1:23:49
  pumped the first the same day, right?
• 1:23:53
  We ripped to 126 K, but there was some, there is a voice in
• 1:23:57
  the back of my head cause I've just been so chewed out at this
• 1:24:00
  point that I was like, yeah, like in the previous all time
• 1:24:03
  high was 124, right? So as, as soon as we hit 126,
• 1:24:08
  I'm like, all right, it's done. We're going back down because
• 1:24:12
  the all time highs have been like it's like 1K above.
• 1:24:15
  You know, yeah, it's been horrible.
• 1:24:17
  It's been like I11124 all right all time.
• 1:24:20
  High time 125 Back down Consolidate for a week 126.
• 1:24:27
  Yeah, and then then we're poor. Consolidate, consolidate for a
• 1:24:33
  month and then it's done, right? It's been like that for a minute
• 1:24:37
  now, bro. It's been like that for a
• 1:24:39
  minute. I want to get your guys the
• 1:24:42
  thoughts in the chat. Yeah.
• 1:24:44
  So look, I'm not, I'm not going to lie, like last night.
• 1:24:47
  Someone in the chat, we will see.
• 1:24:53
  Like I've been feeling, look, you guys, you guys have been
• 1:24:56
  seeing me on the chat. I literally are in in the show
• 1:24:58
  and on the chat trolling me. When Nika, the week you were
• 1:25:01
  gone, someone was saying I'm a fake maxi and I'm flooding
• 1:25:04
  Bitcoin. Because we were being realistic
• 1:25:06
  about us going sideways for 10 months and just how brutal it
• 1:25:09
  was when we all kind of expected a parabolic run.
• 1:25:14
  But the end of last week also I, I just got over like I had a,
• 1:25:17
  some kind of sickness here. And you know, I, I was, I was
• 1:25:21
  feeling really bad. I just like I was, I was feeling
• 1:25:24
  worn down the price, the psychology of the market, seeing
• 1:25:28
  all this good news and not seeing Bitcoin pump pass 1K all
• 1:25:31
  time highs. I know all time high was like a
• 1:25:33
  month ago and it's just like we're spoiled or I'm spoiled and
• 1:25:37
  entitled, I guess at this point. But after like literally reading
• 1:25:43
  that IPO article and having like a framework for what we're
• 1:25:46
  seeing and, and kind of correct, like connecting all of the data
• 1:25:50
  that I had from this year, covering all of the news and
• 1:25:54
  reading that article, I was like, oh, OK, that makes perfect
• 1:25:57
  sense to me. I, I, I see exactly what's going
• 1:26:00
  on and there is light at the end of the tunnel.
• 1:26:02
  Obviously, I still believe in the Q4, you know, action
• 1:26:07
  probably pumping into 2026. Yeah, yeah, I'm I'm still
• 1:26:11
  convinced 20Q4. I mean look we just entered
• 1:26:14
  November which is the best returns month.
• 1:26:17
  I think, I think we, I think no one has any.
• 1:26:19
  Idea. Of course.
• 1:26:20
  I literally I you think I have a clue?
• 1:26:22
  I think. We're, I think we have no, I
• 1:26:24
  think we're going to like, I think all like the, the ideas of
• 1:26:29
  what Bitcoin is and stuff like that.
• 1:26:31
  I think it's just going to be blown out of like right now.
• 1:26:35
  We're already in uncharted territory, I think.
• 1:26:37
  I think that's just going to keep happening.
• 1:26:41
  Boo, there's a bear on the chat. No, I'm serious.
• 1:26:44
  Is there a bear in the? Chat.
• 1:26:45
  Yeah, Do you? I can't take you off screen
• 1:26:50
  anymore. Yeah, yeah, like literally take
• 1:26:53
  me. I'm in control here.
• 1:26:54
  I can take me on screen. I can take you off screen.
• 1:26:58
  Yeah, I can take you off screen. You better be nice to me.
• 1:27:01
  I can take you off screen now. But no, I, I think, look, we're
• 1:27:05
  literally entering actually, let me double check this so I'm not
• 1:27:08
  misspeaking here. But yeah, let us know in the
• 1:27:11
  chat what's your vibes. Let we'll read a little bit of
• 1:27:13
  the vibe check in here as we start as we start November.
• 1:27:19
  So yeah, literally guys. Literally Nico, Literally the.
• 1:27:24
  Bull is. Over dude, he's been a he's been
• 1:27:26
  a bear all year long. He did call a couple of tops,
• 1:27:29
  which I'll I'll give him that, but he's a he's a doomer.
• 1:27:32
  I don't I don't listen to doomers.
• 1:27:34
  I don't I fundamentally don't listen to pessimists.
• 1:27:37
  This is optimist fields. All right, Nico.
• 1:27:40
  So we are entering on average November as the best performing
• 1:27:44
  month ever, ever. November is the best performing
• 1:27:48
  month period so. I would three days into
• 1:27:51
  November. Bro what's what's going on dog?
• 1:27:53
  Lower your time preference all right?
• 1:27:59
  Bull is over 200 K April 2026. Bitcoin will always regain all
• 1:28:06
  time high again. I personally believe he did.
• 1:28:11
  I'm not going to lie, I will give him that one.
• 1:28:13
  He did time it, but he's also unemployed.
• 1:28:16
  So like of course, he has to sell his coin.
• 1:28:18
  You know this one down under Blues.
• 1:28:23
  I personally believe we've been in a Bitcoin consolidation
• 1:28:25
  market the past ten months. We haven't seen the bull run
• 1:28:27
  yet. Love to see it.
• 1:28:28
  Love to see it. Sophie says we got to stop
• 1:28:33
  focusing on price and starts focusing on stacking and self
• 1:28:36
  custodying harder than Wall Street.
• 1:28:37
  Honestly, bars, dude, I, I think, I think we've trained her
• 1:28:41
  well. I think we've trained her well.
• 1:28:43
  Let's see. I am preparing to hear the
• 1:28:45
  groans at Thanksgiving dinner. Hold on.
• 1:28:50
  It's, it's not working on my end so I might get booted again.
• 1:28:54
  Anything before 1,000,000 Bitcoin is just noise.
• 1:28:57
  Just Bitcoin and huddle, obviously, obviously.
• 1:29:01
  So I think actually let's do do a one in the chat.
• 1:29:08
  Believe me, put do a one in the chat.
• 1:29:10
  If you're feeling bullish, do A2 in the chat if you're feeling
• 1:29:14
  bearish and drop a three. If you're just kind of neutral
• 1:29:17
  and you're like, I really don't care.
• 1:29:19
  And then we'll wrap up today's show.
• 1:29:21
  So I, I just want to see a couple of those and then so we,
• 1:29:24
  we can kind of get a vibe check here, 'cause I'm honestly, I, I
• 1:29:28
  think at this point I'm like almost indifferent, but I'm like
• 1:29:32
  bullish. I'm like indifferently bullish.
• 1:29:35
  Like what, how, like how much worse could it be?
• 1:29:38
  We've been flat all year. As I was trolling the couple a
• 1:29:41
  couple of days ago. It's like we're barely beating
• 1:29:43
  inflation at this point. Wait, we're underperforming the
• 1:29:47
  S&P 500, dude? Listen if gold.
• 1:29:50
  OK, hold on. We got some.
• 1:29:51
  We got some. We got some 1.
• 1:29:53
  So bullish, bearish bullish. We got a one point. 51 So he's
• 1:30:00
  kind of like bullish but bearish, bearish, indifferent
• 1:30:05
  bullish, indifferent bullish nice, nice.
• 1:30:11
  OK, so I mean it's not statistically accurate, but I
• 1:30:14
  think we're getting some bullishness but yes, buy what
• 1:30:16
  you can when you can. This is the way 1-2 and three
• 1:30:23
  I'm thinking I actually verbal verbal whooping.
• 1:30:29
  I think this is exactly what's going on.
• 1:30:32
  Bitcoins going to move when nobody is expecting it.
• 1:30:34
  And I I think that is kind of going into the four year cycle
• 1:30:38
  is dead theory, which goes into I forget who it is.
• 1:30:41
  Is it chef in the chat who's been saying it?
• 1:30:43
  He's like 2026 Q 22026. Mark my words, it's going to
• 1:30:47
  RIP. So we have to be bullish. 100K
• 1:30:50
  was a massive psychological barrier.
• 1:30:54
  I agree. I agree bullishly indifferent.
• 1:30:58
  I'm indifferently bullish I. Don't know man.
• 1:31:02
  I'm bipolar, I think 1-2 and three.
• 1:31:11
  I don't know, man. I, I think we're, I think we're
• 1:31:13
  heading into uncharted territory.
• 1:31:15
  That's that's my opinion. Wow, dude, you're fence riding
• 1:31:18
  again. I think no dude.
• 1:31:20
  I just think that no one has any dude.
• 1:31:22
  Everyone got it wrong. No, I know.
• 1:31:25
  I I the question is literally what do you think, not what
• 1:31:29
  everyone else thinks. I don't know what to think.
• 1:31:31
  I don't know what at this point. I have no idea what to think.
• 1:31:35
  I'm going to take your words bro.
• 1:31:36
  I'm taking it day by day. Let's go.
• 1:31:41
  I don't know what to think dude, if if this even.
• 1:31:44
  I I told that Nico before the show.
• 1:31:46
  I'm like, dude, like I'm taking it day by day.
• 1:31:49
  I completely forgot what a bull market feels like.
• 1:31:52
  I don't even know what that feeling is like bro.
• 1:31:55
  I don't even know what that feeling is like.
• 1:31:58
  We've been in this like, what's the thing?
• 1:32:02
  That's yeah, I I have a purgatory.
• 1:32:04
  Yeah, between heaven and hell. We are all wrong.
• 1:32:07
  We've. Been in purgatory for like a
• 1:32:09
  year bro. A year, dude.
• 1:32:11
  It's like I have this memory of this high at one time and it's
• 1:32:16
  been so long I can't remember. What if it was real or not?
• 1:32:20
  No one remembers anything Dude no one remembers anything.
• 1:32:23
  It it's, it's literally become boring.
• 1:32:27
  You know, it's become boring. But again, like the thesis.
• 1:32:29
  It will happen when you are sleeping and I think we're all
• 1:32:32
  asleep. And I think we're all is this
• 1:32:35
  what? What's the Wall Street CHEAT
• 1:32:37
  SHEET? Is this what this is?
• 1:32:39
  What capitulation? Is like no, this is not
• 1:32:44
  capitulation dude. This is bored to death.
• 1:32:48
  Boredom. Boredom.
• 1:32:49
  I mean, I don't there is no boredom.
• 1:32:51
  There is no boredom there. Somewhat the BTC stalker Nico
• 1:32:57
  son of stats. You should have been paying
• 1:32:58
  attention to equities. I'm not going to sell my stack
• 1:33:01
  to buy equities bro. Remember, he's unemployed.
• 1:33:09
  The ATC stacker you guys are so funny.
• 1:33:11
  Bitcoin is going to have a solid 2026 and 2027 and be on the
• 1:33:14
  show. Let's go.
• 1:33:17
  OK, so there's no boredom. There is no.
• 1:33:20
  Boredom. There's no boredom.
• 1:33:21
  There is no boredom. No, it's either capitulation.
• 1:33:24
  I'm getting 100% out of the market.
• 1:33:26
  I can't afford to lose more. That's probably everyone anger
• 1:33:29
  who shorted the market. Why did the government allow
• 1:33:31
  this to happen and then depression.
• 1:33:34
  My retirement money is lost. How can we pay?
• 1:33:36
  For all this new stuff. I am an idiot.
• 1:33:40
  Yeah, we might. We might be there in 6.
• 1:33:42
  I might be depression. I might be feeling depression.
• 1:33:46
  Yeah, if you guys enjoyed the show, know you know what to do,
• 1:33:48
  smash that like button. This was the the Monday vibe
• 1:33:51
  check, as you could tell Monday vibes, as you could tell we're
• 1:33:54
  bored and confused. If you guys enjoyed today's
• 1:33:57
  show, you know what to do smash that like button.
• 1:34:00
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• 1:34:04
  We appreciate you joining us here on November 3rd, 2025, and
• 1:34:07
  we'll see you tomorrow for another episode of SB Live.
• 1:34:16
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• 1:34:19
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