Latest / Simply Bitcoin / Michael Saylor was FORCED To Respond, and things got heated... | EP 1437

Transcript

Michael Saylor was FORCED To Respond, and things got heated... | EP 1437 · Simply Bitcoin

• 0:01
  As Bitcoin has crashed by nearly 50% from its highs, a lot of
• 0:06
  people have been wondering, will Strategy be forced to sell their
• 0:10
  Bitcoin? And really, what would that mean
• 0:13
  for the price of Bitcoin, considering Strategy holds over
• 0:17
  3% of the total supply? While Michael Saylor made an
• 0:21
  interesting appearance on CNBC this morning, let's take a
• 0:25
  listen. The concern, as you know, about
• 0:29
  strategy itself, to the extent that there are are worries
• 0:32
  within the the Bitcoin community, is that, you know, if
• 0:35
  Bitcoin continues to fall, and I know you've made the argument
• 0:38
  that you have enough cash on hand to to handle this for the
• 0:42
  next two years, that there could be a a moment at which you have
• 0:45
  to sell, not buy. Yeah, that's an unfounded
• 0:49
  concern. The truth is our net leverage
• 0:52
  ratio is half the typical investment grade company.
• 0:56
  We've got 50 years worth of dividends and Bitcoin.
• 0:59
  We've got 2 1/2 years worth of dividends just in cash on our
• 1:03
  balance sheet. So we're not going to be
• 1:06
  selling, We're going to be buying Bitcoin.
• 1:09
  I expect we'll be buying Bitcoin every quarter forever, just so
• 1:14
  we all understand what is the price at which this story gets
• 1:20
  much more complicated for you and therefore the rest of the
• 1:23
  Bitcoin community. I think there's a a sense that
• 1:26
  given how large a player you are, if if the price of Bitcoin
• 1:30
  were to fall to a place and and and continue to stay there for 2
• 1:34
  1/2 years from now and and you were forced into a selling
• 1:37
  position that that unto itself could create a cascading
• 1:41
  problem. Andrew, if if Bitcoin falls 90%
• 1:44
  for the next 4 years, we'll refinance the debt.
• 1:49
  Refinance where, Michael? We'll just roll it forward.
• 1:53
  I mean again. But you, you, you think banks
• 1:55
  would lend to you at that point? Yeah, because because the
• 2:00
  volatility of Bitcoin is such that it's always going to be
• 2:03
  value. Look, you're at 68,000 right
• 2:05
  now, literally has to fall to 8000.
• 2:08
  Then we just refinance the debt. If you think it's going to 0,
• 2:11
  then we'll deal with that. But I don't think it's going to
• 2:13
  0 and I don't think it's going to 8000 either.
• 2:16
  But the credit risk is de minimis at this point.
• 2:20
  Yo, you got to love it. We did hear last week the CEO
• 2:25
  strategy Fong Lee, I believe his name is he he was making the
• 2:29
  rounds. Actually, Nico was even saying
• 2:30
  this yesterday like why did sailors say that?
• 2:33
  We could you know, we, we won't get liquidated until AK.
• 2:36
  That means they're going to dump the market to AK.
• 2:38
  Now Sailor comes out this morning he's like, dude, we are
• 2:41
  literally never going to get liquidated.
• 2:43
  We're going to be buying Bitcoin forever and, and it, it is very
• 2:47
  interesting. But the first point I want to
• 2:49
  make is it's super interesting that first of all, it does seem
• 2:54
  like Tradfi really doesn't. Well, you could say either they
• 2:57
  don't understand Bitcoin or they willfully are ignorant to what
• 3:01
  Bitcoin is. And then further, you can see
• 3:04
  that a lot of people have a hard time understanding what it is
• 3:07
  Sailor's actually doing. Everyone just thinks he's buying
• 3:10
  a bunch of Bitcoin. All he wants to do is buy
• 3:12
  Bitcoin. If you watch this whole clip, it
• 3:14
  was 7 minutes. I wish I could put the whole 7
• 3:16
  minute clip on there for you guys.
• 3:18
  He basically goes on to say the STRC product is the most
• 3:22
  interesting product. That's the revolutionary
• 3:24
  product. And now everyone is trying to
• 3:26
  really wrap their brain around what Sailor is doing, or rather
• 3:30
  what strategy he's trying to do. And, and it was funny when when
• 3:34
  they're like, so who's going to, who's going to refinance your
• 3:38
  loans? He's like, dude, we got this.
• 3:40
  Like, yeah, they're going to refinance this.
• 3:42
  Everyone's trying to get into Bitcoin.
• 3:44
  So now it sounds like they have doubled down.
• 3:47
  They're like, we're never going to get liquidated.
• 3:49
  We're never going to sell Bitcoin.
• 3:50
  And obviously, as I was telling you guys, the last time we
• 3:53
  covered a similar story, everyone was DM ING me or, and,
• 3:56
  or tagging me on Twitter like, yo, is Sailor getting
• 3:58
  liquidated? Obviously as the price came
• 4:00
  down, everyone's like, oh, Sailor's going to get liquidated
• 4:03
  because of his average price is right around here.
• 4:06
  Now we all know, dude, if you don't understand what Sailor's
• 4:11
  doing, of course people are going to say like one, he's
• 4:16
  running a Ponzi. Oh, he's going to get
• 4:18
  liquidated. It sounds like they structured
• 4:21
  their product, their debt in such a way that there's no
• 4:24
  possible way of them getting liquidated.
• 4:25
  But also it does feel like some peak bear market things.
• 4:29
  The FUD rolls out thick when it when the price of Bitcoin goes
• 4:34
  down South, sailor quelling all the fears, yeah, they're not
• 4:39
  going to sell. I mean.
• 4:41
  I, I, I, I did call it when he mentioned when the CEO and, and,
• 4:46
  and again, he said it out of he, he did say it out of good
• 4:49
  intention, right? But like, that's the way the
• 4:51
  media work. It's like the, the Streisand
• 4:54
  effect, right? Like you're, you're giving
• 4:56
  ammunition for people that work in media, traditional finance to
• 5:02
  basically jump on that number, right?
• 5:05
  Taylor came out swinging. He came out confident.
• 5:09
  He came out knowledgeable. Seems like he's in complete
• 5:13
  control of the situation. He is a human being after all.
• 5:18
  Though Michael Strategies overall purchases are
• 5:22
  underwater. Their average purchase price is
• 5:24
  $76,000 per coin. We're at $69,800.
• 5:31
  So, but like the rest of us, you know, I, I think he's gonna, he,
• 5:37
  he's gonna come out looking like a genius.
• 5:39
  And, and I think the guy is a genius.
• 5:41
  He's gonna come out looking like a genius in the next cycle.
• 5:46
  That's, that's really what's gonna happen now.
• 5:48
  I hope that the next cycle, you know, the next having I think is
• 5:52
  in 28, I believe. I hope we don't make an all time
• 5:54
  high before then because you know, that's what happened this
• 5:59
  cycle. And then we kind of had like
• 6:00
  this cycle where most of the performances happened in the
• 6:03
  early years and we never had this kind of euphoric blow off
• 6:06
  top. And I think that had to do with
• 6:09
  the fact that you had the introduction of the Bitcoin ETF
• 6:12
  and then, you know, kind of like the trad 5 financialization of
• 6:17
  Bitcoin. But sailors coming out there
• 6:21
  like an absolute Chad, and he's basically saying like, look like
• 6:25
  we're very strongly positioned. We have a very strong cash
• 6:29
  position. If worst comes to worst, if
• 6:32
  Bitcoin's price does dump, you know, we, you know, we're just
• 6:37
  going to refinance. Banks are going to go for it
• 6:39
  because it's attractive. Bitcoin's an attractive
• 6:42
  investment. And if it goes to 0, we're going
• 6:45
  to have to reassess. But I mean, that applies to the
• 6:47
  entire Bitcoin industry. If Bitcoin goes to zero, we are
• 6:51
  all going to have to reassess. So you know, he is placing his
• 6:55
  bet like the rest of us on the future price appreciation of
• 7:00
  Bitcoin in the performance of Bitcoin.
• 7:02
  And you know, you guys have heard the theories throughout
• 7:04
  the years, the bullish case for Bitcoin, you know, but all the,
• 7:08
  all the amazing, the Bitcoin standard, all the amazing books
• 7:12
  and material that that has been written over the years, you guys
• 7:17
  have, you guys have seen it, you guys have read it.
• 7:20
  You know, the, the case is there, the thesis is there, but
• 7:24
  one thing is the case there and one thing the, the, the thesis
• 7:27
  being there and then the other, the other thing is it actually
• 7:31
  playing? Is it, is it actually going to
• 7:33
  play out the way that we think it's going to play out?
• 7:35
  And I truly believe it does. I, I truly believe it will.
• 7:40
  I think Bitcoin's the best money the world has ever seen.
• 7:43
  I think it's the it's the best, the most pristine collateral the
• 7:45
  world has ever seen. As has the best characteristics.
• 7:49
  It has absolute scarcity. I think we're on the verge of
• 7:52
  the United States government announcing that they have been
• 7:55
  accumulating Bitcoin for their strategic reserve.
• 7:58
  We covered that on yesterday's episode.
• 8:01
  I think right now we're in a place of uncertainty.
• 8:04
  And this might be unpopular with the audience, but I've been
• 8:08
  telling you guys my opinion since October.
• 8:11
  I think you and Walker owe me an apology TBH.
• 8:14
  And then over till it's over. But I think we're gonna head
• 8:18
  into more uncertainty. I think we're gonna head into
• 8:20
  more pain. That's A to be perfectly frank
• 8:23
  with you, I think we're gonna hit the 200 day moving average,
• 8:26
  which is around 5855 K. It's weak bro.
• 8:29
  Yeah, we say Dead 200 Week 2. 100 week thank you it Bitcoin
• 8:33
  has historically always on this in bear markets.
• 8:37
  I think this bear market is no different.
• 8:39
  I think we're gonna Wick to those levels.
• 8:42
  Of course there's an opinion, not trading advice, not
• 8:44
  financial advice. And then Bitcoin's gonna pick up
• 8:47
  like it always does and the cycle's gonna restart.
• 8:50
  And you know, we did have this amazing, to be frank.
• 8:55
  It was an amazing performance by Bitcoin over this three-year
• 8:58
  time period where it went from $16,000 to $126,000.
• 9:05
  Like that return is absolutely incredible on a three-year,
• 9:09
  three-year time scale. And now we're kind of having a
• 9:12
  little bit of a hangover year. And I don't, I don't think that
• 9:14
  hangover year is, is, is over. So I think sailors going to feel
• 9:18
  more pressure. I think the smaller treasury
• 9:22
  companies that, you know, took out bad debt, perhaps, you know,
• 9:28
  I, I think some of them are going to capitulate.
• 9:30
  Some of them have, are going to sell Bitcoin.
• 9:32
  We've already seen this from some of the Bitcoin treasury
• 9:35
  companies. And you know, the nature heals
• 9:39
  itself, right? The inefficient miners are going
• 9:41
  to go out of business. The efficient miners are going
• 9:44
  to stay in business. The inefficient companies are
• 9:46
  going to go out of business. The efficient companies are
• 9:48
  going to stay in business. And then the Bitcoin cycle
• 9:51
  repeats itself. It's it's just history going all
• 9:54
  over again. And Sailor is being the
• 9:56
  figurehead of this movement, specifically with Wall Street
• 10:01
  and traditional finance. He's getting, you know, he's
• 10:05
  getting the majority of the Flack for it.
• 10:08
  Luckily for us, you know, he's extremely well spoken, you know,
• 10:13
  and he makes very solid arguments and he's not even
• 10:16
  allowing them to frame the questions in certain lights.
• 10:19
  Like you've seen this in multiple interviews.
• 10:21
  Like shout out to Danny Knowles and the What Bitcoin Did
• 10:25
  podcast. Like Danny had some balls to ask
• 10:27
  him some really hard questions on that interview that he did
• 10:31
  with him and Saylor. What he did was he didn't allow
• 10:35
  the framing of the question to be asked, right?
• 10:38
  I, I personally would not have done that myself, but Danny was
• 10:42
  a, an incredible interviewer and he did his job.
• 10:45
  I really recommend watching that interview.
• 10:47
  And then also legacy media, right?
• 10:51
  So legacy media, they're experts of these these are
• 10:54
  professionally trained journalists that work in the
• 10:56
  traditional financial, you know, markets and they cover the
• 10:59
  traditional financial markets. So they're like trained to ask
• 11:02
  these really hard hitting questions that are meant to
• 11:05
  catch you on your back foot, right?
• 11:08
  And it's very easy to like, you know, pile on Michael Saylor and
• 11:12
  pile on strategy when you know the the the price of bitcoins
• 11:16
  going down. Like he explained it himself.
• 11:19
  And for anyone who doesn't know what strategy is, strategy is
• 11:23
  basically like a levered play on Bitcoin.
• 11:25
  So if the price of Bitcoin goes down is going to probably go
• 11:29
  down two or three times as much. If the price of Bitcoin goes up,
• 11:33
  the the price of Bitcoin is going to go up two to three
• 11:38
  times as much, right? That's basically how the
• 11:42
  treasury companies are going to function, specifically the
• 11:45
  bigger ones like 21, which is of course has, you know, CE OS Jack
• 11:48
  Maulers and then the backing of Tether and SoftBank, huge
• 11:52
  backers. And then of course the big
• 11:55
  daddy, which is strategy, you know, the OG, the first one,
• 11:59
  which has an an ungodly amount of Bitcoin.
• 12:03
  So of course they're going to get him on TV and they're
• 12:06
  basically going to try to get to get him to admit that.
• 12:10
  Hey, listen, are you are you going to be forced to sell your
• 12:14
  Bitcoin? Number one reason that makes
• 12:17
  good TV, right? Because imagine if he said yeah,
• 12:19
  we might be for like that is breaking news all around the
• 12:23
  world. But sailor held his ground and
• 12:26
  most importantly, he didn't allow himself to be framed
• 12:29
  right. He's like look like that's
• 12:31
  that's a that's a ridiculous notion.
• 12:34
  You know, we're we're very well capitalized.
• 12:36
  We can continue paying these dividends for many, many, many
• 12:39
  years. Bitcoin would apps would
• 12:41
  basically have to go to 0 for us to be in any type of financial
• 12:47
  trouble. And here's the thing, I think
• 12:49
  anybody watching the show, anyone who has a a business in
• 12:53
  the space, you're probably betting that Bitcoin doesn't go
• 12:57
  to zero. I would be extremely surprised.
• 13:00
  I think it's that I don't even want to, I don't want to say
• 13:03
  that. I don't want to say that the
• 13:05
  OG's that are watching the show. I did not say that I think it's
• 13:10
  highly unlikely for Bitcoin to go to $8000, that that price is
• 13:15
  just way too low. I, I, I think that we can see
• 13:18
  high 30s, mid 40s, fifties for sure.
• 13:24
  But anything below that, there would have to be some type of
• 13:28
  Black Swan event, 25K, the lowest of the low and it will
• 13:32
  only Wick there for a very short amount of time.
• 13:35
  Again, I could be totally wrong here.
• 13:37
  I just, it, it doesn't line up with previous cycles.
• 13:40
  You always have to account for that 80% drawdown.
• 13:44
  And it's that 80% drawdown puts you roughly AT25K, right?
• 13:49
  So I, I, I just don't see it going below those prices, but
• 13:53
  that's when things are going to be tested.
• 13:55
  I think strategy shouldn't be the one that should be being
• 13:58
  called into question out of all of them, right?
• 14:01
  Strategy is, is, is the best positioned, it's the strongest,
• 14:06
  right? It's really these smaller
• 14:09
  treasury companies that are going to be the ones that are
• 14:11
  going to go bottoms up way before, way before strategy 21,
• 14:16
  like way before that, like the backers of 21, like it's, it's
• 14:19
  like, come on now strategy again, like that's so much
• 14:23
  Bitcoin, like they're not going anywhere.
• 14:25
  But these smaller treasury companies, on the other hand, I
• 14:27
  mean, you've already kind of seen some of them already
• 14:29
  announced that they're selling Bitcoin, right?
• 14:33
  So yeah, I could see them going going under.
• 14:36
  And it's and it's it's really interesting.
• 14:37
  This article came out. We'll we'll show your bit after
• 14:41
  this opt to after my take, but just leave it on screen.
• 14:45
  I think it looks pretty cool with the numbers on the side.
• 14:48
  But strategy came out. I mean, Bitcoin Magazine, our
• 14:51
  friends over Bitcoin magazine released this article right
• 14:54
  after the squawk box interview. And I love the headline for all
• 14:57
  the audio listeners. We're not selling strategy's
• 15:01
  Michael Saylor double s down on Bitcoin buys and I'm going to
• 15:05
  read you some of the quotes here.
• 15:07
  We're not going to be selling. We're going to be buying
• 15:09
  Bitcoin. I expect we'll be buying Bitcoin
• 15:11
  every quarter forever. Then of course, what I was
• 15:14
  saying earlier, that's just an unfounded concern.
• 15:17
  Again, that's just Saylor reacting to a lot of the the the
• 15:20
  criticism and the better said the framing of the questions and
• 15:25
  then it and continues to say, if you got a time horizon less than
• 15:28
  four years, you're not really a capital investor.
• 15:33
  I agree with that. I think if you buy Bitcoin at
• 15:34
  this point, you got to have at least a four year mindset
• 15:38
  minimum unless you buy the absolute bottom and most people
• 15:43
  don't buy the bottom. Most people buy near the top
• 15:45
  when they get into Bitcoin. So anyways, I'm going to pass it
• 15:48
  on to you, Opti. I'm going to stop sharing my
• 15:50
  screen. That's my take on all this dude.
• 15:53
  I think Sailor handled it perfectly.
• 15:55
  And he just put, you know, his, I can't say this, we're a
• 15:59
  professional show now. You know, he, he showed up, he
• 16:04
  showed up, they don't call him Chad Sailor for no reason.
• 16:07
  He showed up. He put him in his place.
• 16:09
  He removed any type of uncertainty, any type of
• 16:12
  insecurity and he basically said, look, we're in a strong
• 16:15
  position. We have no intention of selling.
• 16:18
  In fact, we're going to buy more.
• 16:19
  And you guys are just giving me shit because the price of
• 16:22
  bitcoins going down. But this is all part of it.
• 16:25
  Volatility, what the sailor always say volatility is a gift
• 16:30
  towards the faithful, you know, so if you're an investor in
• 16:33
  Bitcoin right now, historically speaking, it's one of the best
• 16:36
  times to buy. Also, if you want kind of a
• 16:40
  little bit of a of a more levered play, we're spot Bitcoin
• 16:43
  people here at simply Bitcoin. But if you want more of a
• 16:45
  levered play on, on on on Bitcoin in general, again, this
• 16:50
  could potentially be a great time to buy MicroStrategy.
• 16:54
  I think strategy under $100, I think strategy under $100 is
• 16:59
  like a no brainer in my opinion. Like $50 strategy, I'm looking
• 17:02
  at that and I'm like that looks nice if I were buy stocks and
• 17:08
  not Bitcoin. Yeah, yeah.
• 17:12
  If big, if big if OK, Yeah. So I was just pulling up the
• 17:17
  strategy dashboard here. And as you heard in the clip,
• 17:20
  Sailor said, hey, look, we don't have to sell any Bitcoin.
• 17:24
  We don't even have to raise any money right now.
• 17:26
  And we could still last for 2 1/2 years.
• 17:28
  And you can see very clearly on the dashboard, they have $2.25
• 17:32
  billion in reserves and they only need to pay annual
• 17:37
  dividends of $887,000,000. So I find it very interesting
• 17:42
  that yes, the price is, you know, where we've, we've
• 17:46
  corrected a little bit, the price is going down and the FUD
• 17:49
  comes out. And like Nico said, since Sailor
• 17:52
  is basically the face of the Bitcoin treasury play, he has
• 17:56
  been the, for lack of better terms, kind of like the
• 17:59
  corporate spokesperson for Bitcoin.
• 18:02
  He's been talking to all the banks, all the asset managers,
• 18:04
  the sovereign wealth fund holders, even the nation state
• 18:08
  level Bitcoin treasure or sorry, strategic Bitcoin reserve.
• 18:13
  And I think that's why he's getting a lot of a lot of the
• 18:16
  fog right now. They're placing it at his feet
• 18:19
  because he has been such an outspoken spokesperson for
• 18:23
  Bitcoin and obviously, you know, he's a billionaire.
• 18:25
  So that that's the type of people they put up on squawk
• 18:28
  box. But it is interesting that it
• 18:32
  almost feels like the meme is playing out in real time.
• 18:36
  We're just early to it. And, and the meme I'm talking
• 18:38
  about is, you know, Bitcoin goes to $1,000,000, it crashes to
• 18:41
  $750,000 and everyone says it's over.
• 18:45
  Bitcoin basically did that exact same thing.
• 18:47
  Just, you know, what's a magnitude of 10 smaller goes to
• 18:51
  100 something K, it drops down to 6070 K and everyone's like
• 18:55
  the world's ending. So while Nikka was going, it
• 18:59
  kind of made me think that if you haven't been around in
• 19:03
  Bitcoin for a long time, then all of the FUD and all of the
• 19:08
  headlines, they, they might catch you, you know, off guard,
• 19:11
  they might catch you, you might get blindsided by them because
• 19:14
  you, you, you're not used to this playing out.
• 19:17
  I've been in Bitcoin for I, I don't even know how long since
• 19:21
  2017. So been here for three dumps and
• 19:23
  every single time this happens. Now, last year was very
• 19:27
  interesting because it was a bear year.
• 19:29
  It was a negative year and we got no Bitcoin, No.
• 19:32
  And it feels like the year has just started.
• 19:36
  And since Bitcoin corrected at the beginning of the year,
• 19:39
  you're getting a lot of the FUD come out very quickly like, oh,
• 19:42
  let's jump on this. This is a headline story.
• 19:45
  This is a financial story that we need to cover.
• 19:47
  Anyways, I say all that to say that it does feel like on a
• 19:53
  proportional level, we're not really seeing that much fun.
• 19:57
  But since the price has gone so high, you are seeing maybe, you
• 20:02
  know, more headlines come out and saying, oh, it's over this
• 20:05
  time. So it does seem like it's
• 20:07
  becoming louder than ever. But I really, I think on a like
• 20:12
  a percentage basis, it's probably less than we've seen in
• 20:16
  the past. It's just it, it seems like a
• 20:18
  lot right now because like there's really not that much
• 20:21
  going on. You know, we're in a bear
• 20:23
  market, the price doesn't feel that good.
• 20:25
  So any. Every time you see these
• 20:26
  headlines, like Niko said, it's like it's good television.
• 20:29
  It's like, OK, bitcoins dumping, let's talk about the crash.
• 20:32
  What is a good fudge story? Oh, maybe sailors going to have
• 20:35
  to sell that Bitcoin and then it's going to crater the price
• 20:39
  even more. That's really what I feel is
• 20:42
  going on. And also I noticed if you watch
• 20:44
  the whole clip, Joe Kernan wasn't in that whole bit there.
• 20:48
  And we all know Joe Kernan is the best Bitcoin podcaster out
• 20:51
  there. And I, I thought the lady was, I
• 20:54
  forget what her name is, but I thought she was starting to come
• 20:57
  towards the Bitcoin kind of side here.
• 20:59
  We all know, you know, Sorkin, he's he's a huge Bitcoin hater.
• 21:03
  He, I mean, we, we could go into his connections and backgrounds,
• 21:08
  but he's a he's a Fiat Maxi by by all intents and purposes, But
• 21:13
  Joe Kernan was nowhere to be found in that because they I'm
• 21:16
  guessing again, tinfoil hat, I'm guessing maybe they're like we
• 21:20
  we're not even going to put Joe Curtin on here because we want
• 21:23
  to try to stick it to sailor here and sailors like, yeah,
• 21:27
  we're we'll just refinance our debt like they're the dude.
• 21:30
  Yeah, of course we're going to be able to roll it over.
• 21:32
  He. Didn't even accept the framing.
• 21:34
  Like he was like very matter of fact, like, you know, this is
• 21:37
  how things are going to work out.
• 21:39
  This is how things are going to play.
• 21:41
  And I, I think it's a good thing, man.
• 21:44
  Because whether people like it or not, you know, Sailor going
• 21:47
  out there and his words on TV will have a material impact on
• 21:53
  the price of Bitcoin. Like if Sailor butchered that
• 21:56
  interview, Bitcoin would have dumped, right?
• 22:00
  Like people are you guys have to understand that like Sailor is
• 22:05
  the representation of Bitcoin in Wall Street.
• 22:09
  That's how he positioned his company and Wall Street Bitcoin
• 22:14
  right now at as we read from that Jack Mahler's thread
• 22:17
  yesterday, it was very interesting.
• 22:19
  Bitcoin right now, as things stand, is behaving like a tech
• 22:24
  stock, like that's how investors on Wall Street are, are treating
• 22:28
  it. Even though it's not, even
• 22:29
  though we know it's, it's neutral money.
• 22:33
  I would say it's more of a commodity.
• 22:34
  It's a it's a money and a commodity.
• 22:37
  And it's like, you know, it's, it's Bitcoin, but the market is
• 22:40
  treating it like a risk on tech, tech stock.
• 22:43
  That's how the market is treating Bitcoin right now.
• 22:47
  So, you know, until that changes, you know, but I think
• 22:53
  we're going to continue to see those types of interviews and
• 22:57
  Sailor's going to be point painted out as a villain.
• 23:00
  But there was one thing that was really interesting when he was
• 23:02
  talking, bro, and he pointed it out like, dude, we were at all
• 23:07
  time highs four months ago, like four months ago.
• 23:12
  Feels like a lifetime ago it. Is a lifetime ago in Bitcoin
• 23:15
  Like four months in Bitcoin is like a long ass time like you
• 23:18
  age like you if if four months is like the equivalent of like
• 23:23
  2-2 years in non Bitcoin world. It's like Interstellar.
• 23:27
  Yeah, it's. Right, relative.
• 23:30
  It's like closer you are to the Bitcoin black hole, you know,
• 23:35
  time just slows down on and then in Fiat world it's accelerating.
• 23:39
  Maybe it's the opposite, but anywho, wait.
• 23:41
  Wait, wait, I want to add one last thing because I'm sure a
• 23:47
  lot of people out there, you know, maybe you're a newer
• 23:50
  bitcoiner if you've been in Bitcoin for a long time.
• 23:54
  Like I know some of you guys in the chat, you guys have been
• 23:57
  around as long as I've been or even longer.
• 23:59
  And so this is like nothing new to us.
• 24:01
  We're just like, yeah, whatever, dude, you know, hey, again, you
• 24:04
  know, you guys were shitting on me last week.
• 24:06
  Couple people pop in, like look at these idiots.
• 24:09
  They, they called the top and you know, or they, they thought
• 24:12
  they were going to get more bullish and like, yeah, I was
• 24:14
  wrong on, on where I where the price is going this year or last
• 24:17
  year, Sorry. And it's just like, it is what
• 24:20
  it is, you know, Bitcoins down. Cool, it's on discount, but for
• 24:25
  newer people, I think the real signal here if you really want
• 24:30
  to kind of get a take away besides just like the
• 24:33
  entertainment FUD, you know, cortisol spikes, dopamine
• 24:37
  receptors firing from that clip. The real take away I think from
• 24:41
  this is not just battling the FUD with your friends and
• 24:45
  family. We're all going to be dealing
• 24:47
  with that. You know, I was getting texts
• 24:49
  from my dad when it crashed to like 60 K and he's doing the
• 24:52
  like, you'll be OK. You know, the the price will
• 24:56
  come back and and in my head, I, I don't even know if I responded
• 25:00
  to it. I I like literally, I think I
• 25:02
  just kind of ignored the text. But because I've been here for
• 25:07
  so many times, I, I understand this process.
• 25:09
  You know, I understand the psychology of being in Bitcoin
• 25:12
  and what it does to you. But the real take away here for
• 25:15
  the newer people that haven't been around for a dump like this
• 25:18
  and thought it was going to go to the moon is like, OK, hey, we
• 25:21
  were wrong. Let's adapt to reality.
• 25:24
  Where are we currently? Yes, you can have these
• 25:26
  arguments with with your friends and family if you want to.
• 25:28
  Personally I avoid them as much as possible.
• 25:31
  I just double down and get even more bull tarded than ever.
• 25:34
  I'm like just buy it now it's going to go up anyways.
• 25:37
  I say all that to say, it's like what is Saylor actually doing
• 25:40
  right now? He is continuing to buy Bitcoin.
• 25:44
  He's basically, you know, lowering his cost average on
• 25:48
  Bitcoin and that's what everyone should be doing right now.
• 25:52
  If you did buy the top, if you got it in 2025 at about above
• 25:56
  100K, then you don't just sit here and deal with the FUD and
• 26:01
  you go on Twitter and you start rage baiting people or you start
• 26:04
  crashing out. The real strategy here is, and
• 26:07
  no pun intended, is basically just continue to accumulate,
• 26:11
  emulate Bitcoin. Your average cost, you know,
• 26:15
  price of the Bitcoin that you acquire will go down.
• 26:18
  When it recovers like we all know it will, you're going to be
• 26:21
  in a good place. You know, Sailor is just
• 26:24
  constantly doing this. I'm I'm sure he's trying to
• 26:26
  accelerate this. I really do believe that Sailor
• 26:29
  probably has some info behind the scenes that none of us have,
• 26:32
  and that's why he's been so frantically buying Bitcoin.
• 26:36
  So that is the take away here. That's what you should be doing.
• 26:39
  You should be continuing to buy Bitcoin.
• 26:41
  Ignore the FUD. The Fud's coming out.
• 26:44
  It's a bear market. That's just kind of how it
• 26:46
  works, but you just double down on it.
• 26:48
  Keep buying, keep accumulating, let your family say whatever you
• 26:52
  want. As the other classic Bitcoin
• 26:55
  meme is, is you're basically look like you're looked at like
• 26:58
  an idiot for about 3 years and then only in one year do you, or
• 27:02
  it's really only in a couple of months do you get looked at like
• 27:05
  a genius from your family. This is when your stripes are
• 27:09
  earned. We've all done it.
• 27:11
  You you'll do it. The new people will most likely
• 27:14
  do it that come into Bitcoin the next cycle or all time high
• 27:17
  happens and then we got a correction.
• 27:19
  This is just the process. This is what it means to be a
• 27:22
  bitcoiner as as I always like to say, you know, the hot O meme is
• 27:25
  easy, like it's simple to say rather sorry.
• 27:29
  The hot O meme is simple to say, but it's not easy because it
• 27:33
  really does mess with you. You got to continue to buy
• 27:35
  Bitcoin. Do not necessarily just listen
• 27:38
  to what Saylor says. Do as he does.
• 27:41
  Continue to acquire Bitcoin and everything will be good anyways.
• 27:44
  Enough motivational objects. No, I mean 100%.
• 27:47
  I mean, but like, it's, it's, it's interesting dude, because
• 27:51
  it's like he's having those conversations, like the same
• 27:55
  conversations that you and I had in our living rooms with like
• 27:59
  our parents and like our family friends and like perhaps our
• 28:02
  loved ones. Like he's having those that
• 28:05
  those conversations with Wall Street, like he's having those
• 28:08
  conversations with like. Super.
• 28:09
  Publicly, right, like it, it's like public for the world to
• 28:12
  see. But in essence, like if you
• 28:15
  break it down to the core of what he's doing, it's
• 28:18
  essentially the same exact thing that we were all doing, just on
• 28:21
  a much smaller scale, which is which is obviously but, but but
• 28:26
  which is essentially being evangelist of Bitcoin, right,
• 28:30
  Standing up for Bitcoin, saying I believe in Bitcoin for the
• 28:32
  future, basically being called an idiot, right, basically being
• 28:36
  questioned, right. And then it's no different
• 28:40
  fundamentally, the only difference guys that I would say
• 28:43
  is that it's on a it it's it's much more public, right?
• 28:47
  It's much more public. It's on live TV.
• 28:50
  If you haven't been on live TV, if you haven't done live things,
• 28:54
  it's it's very easy to mess up as you guys are probably see
• 28:57
  every single day. Me and Opti just.
• 28:59
  What? No, I don't mess up.
• 29:01
  Yeah, we're pretty good. We're pretty good.
• 29:03
  But you said the. Early I mess up.
• 29:04
  Every day we're pretty good, but the lot the IT, it, it's, it's
• 29:07
  a, it's a lot harder when you're live and you're put on the spot
• 29:11
  to answer some difficult questions.
• 29:12
  The only way you're able to do that like really, really well or
• 29:17
  like very successfully is if you fundamentally know your shit and
• 29:22
  fundamentally believe in your shit.
• 29:24
  Those two things. If you don't believe in what
• 29:27
  you're talking about, and if you don't know exactly, exactly what
• 29:30
  you're talking about and you're pressed up against a wall and
• 29:33
  you're doing it live, you will, You will run out of things to
• 29:38
  say like you, you just won't do a good job.
• 29:40
  So obviously Sailor knows his shit and obviously Sailor 100%
• 29:46
  believes and the future price appreciation of Bitcoin as of
• 29:50
  course we do here at simply Bitcoin.
• 29:52
  And I, I could never have imagined me saying this because
• 29:55
  I'm a spot Bitcoin guy. I'm a self custody guy.
• 30:00
  I will continue to be a self custody guy.
• 30:03
  At the end of the day, the mission here is, you know, the
• 30:06
  separation of money and state. The way that we do that is
• 30:09
  1,000,000 upon millions of individuals taking self custody
• 30:11
  of their Bitcoin. However, however it is going to
• 30:15
  be very, very tempting not to smash by $50 MicroStrategy,
• 30:22
  right? Like seeing $50 MicroStrategy is
• 30:24
  like damn bro like that looks nice, right?
• 30:29
  Of course not. Not like a a tiny percentage of
• 30:32
  the stock, but any who. Dude, you just go all in and you
• 30:37
  buy the bottom and you sell the top, right?
• 30:38
  No, no. I'm trying like I'm trying, but
• 30:41
  I mean like, bro, just $50 strategy would be so tempting.
• 30:45
  It'd just be so. Fun dude.
• 30:46
  One share generational world. I don't know about that, but it
• 30:50
  would be so tempting. I'm just saying any who guys,
• 30:54
  it's going to be a great show. We we got a lot of got a lot of
• 30:58
  stuff lined up for you guys. Over 500 live viewers on YouTube
• 31:01
  alone. Shout out to the Rumble audience
• 31:02
  coming in strong. Shout out to the X audience.
• 31:04
  If you guys are enjoying today, today's show simply Bitcoin
• 31:07
  live, the most watched Bitcoin live show on planet earth.
• 31:11
  Make sure to smash that like button.
• 31:14
  It's going to be a great show. Like I said, we got so many
• 31:17
  things lined up for you guys, so much news.
• 31:19
  We got a clip of Scott Besson and then during the news, we're
• 31:22
  going to change it up a little bit today because the news cycle
• 31:24
  was a little bit slow today. I have a clip of the one the
• 31:28
  only the legendary Andre Santanopoulos who you know.
• 31:33
  We wouldn't be here without. Yeah, we wouldn't be here
• 31:35
  without Andreas. Like for me as a content
• 31:38
  creator, Andreas was basically the inspo, like his lectures, he
• 31:42
  would do him off the Dome, right?
• 31:44
  Like he would go in front of parliament, he would go in front
• 31:48
  of, you know, just in like a stage in front of it, like 2 or
• 31:52
  3000 people watching him live. And he would just pace and just
• 31:57
  talk about Bitcoin. And in that moment in time in
• 32:00
  Bitcoin's history, there was no Bitcoin contents.
• 32:03
  Part of the reason I started simply in 2020, there was no
• 32:08
  Bitcoin content. Like it did not exist.
• 32:11
  So, you know, it's, it's pretty, it's pretty crazy, you know,
• 32:16
  looking back to these old Andrea's clips and seeing how
• 32:20
  much of this turned out to be true.
• 32:21
  So we're going to be talking about that during the news.
• 32:24
  And then the culture segment. Opti's got a, you know, some
• 32:27
  tricks up his sleeve, which I'm really excited to talk about as
• 32:30
  well. So we're going to be right back
• 32:31
  in just a little bit and then we'll get to the numbers.
• 32:34
  Let's check it out everybody. Today's episode is brought to
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• 34:47
  everybody, we are back at the time of recording, the Bitcoin
• 34:50
  price is 69,100. I like I kind of like this one
• 34:54
  better, Abdi. Now which one's the one?
• 34:58
  This one I like this one. This one looks nice.
• 35:02
  At the time of recording the Bitcoin price is 69,360 sats per
• 35:07
  dollar. 1442 Lockheight 935,936 Realized Monetary Inflation .83%
• 35:15
  Market cap one point 39 trillion Bitcoin versus gold market cap
• 35:20
  4.63% percentage issued is 95.17% And the grand scheme of
• 35:27
  things are just getting started. If Bitcoin reaches the market
• 35:29
  cap of gold, that's $1.7 million per coin.
• 35:33
  That's that's a lot. That's a lot.
• 35:35
  That's that's a good amount. Anyways, I have a clip of Scott
• 35:39
  Besant. You know, man, this is one of my
• 35:44
  favorite Treasury secretaries. Like we went from Janet Yellen,
• 35:46
  1 of Opti's exes to Scott Besson and, you know, major upgrade in
• 35:55
  all the different ways. And you know, again, he's just,
• 36:00
  he's just a huge advocate of, of Bitcoin, you know, critical of,
• 36:05
  of just government, like irresponsible government
• 36:07
  spending. And again, once again, he comes
• 36:10
  out to talk about the Clarity Act.
• 36:12
  So we played you guys a clip last week where Senator Cynthia
• 36:16
  Lummis, the Bitcoin senator, was asking Scott Besson, Treasury
• 36:21
  Secretary Scott Besson about the Clarity Act, how important it is
• 36:24
  for it. And again, you know, Scott
• 36:28
  Besson is part of the executive branch.
• 36:30
  So he he represents the Trump administration.
• 36:33
  And again, this is a great indication that the Trump
• 36:36
  administration is still 100% behind, you know, the the
• 36:41
  Bitcoin and crypto ecosystem and industry as a whole.
• 36:45
  And they still have every intention of passing the Clarity
• 36:48
  Act. Now the only question is, and
• 36:51
  this is what I was kind of like a little bit, I don't know what
• 36:55
  the correct word is for this. A little bit hesitant is I don't
• 37:00
  know if they have enough votes Like I don't know if they have
• 37:02
  enough of of, you know, I don't know if they have those 60 votes
• 37:08
  in the Senate to get this thing passed.
• 37:10
  So anyways, I'm going to stop talking.
• 37:11
  I'm going to play you guys a clip, then we'll talk about it.
• 37:13
  Let's check it out. Quick on, on, on this crypto
• 37:16
  legislation that seems to be hung up in the Senate as
• 37:19
  Secretary, do you expect that the Clarity Act will in fact
• 37:23
  come back for a markup and, and why are we having a debate about
• 37:26
  bank margins? Where do you stand on this?
• 37:29
  Do you think crypto platforms should be able to pay rewards,
• 37:31
  pay customers for moving stable coin or, or or money out of
• 37:35
  traditional bank deposit accounts and, and keep them in
• 37:37
  crypto platforms? Where are you on that issue?
• 37:41
  Again, Maria, I, I, I think what we're seeing in, in the crypto
• 37:44
  market over the past few months means more than ever that the
• 37:49
  US, we, we need market structure, we need clarity and
• 37:53
  we need to get this across the line.
• 37:55
  This spring we got a. We got a.
• 37:56
  Few. Recalcitrant actors who said,
• 37:59
  well, it'd be better to have no legislation than the legislation
• 38:03
  we don't want. And I, I think both on the
• 38:06
  banks, the other crypto firms are united against them.
• 38:09
  So we need to get this across the line.
• 38:11
  The US President Under President Trump's leadership, the US is
• 38:15
  becoming the crypto capital of the world with our best
• 38:18
  practices, best regulation, and for crypto to remain a viable
• 38:24
  digital asset and move forward, we need to get this Clarity Act
• 38:28
  done. So you think it will be?
• 38:30
  It'll it'll come back fairly soon.
• 38:32
  Then I'm optimistic and there's there's bipartisan support here.
• 38:37
  OK, so keyword that he said there in terms of the bipartisan
• 38:42
  support that is necessary, that is 100% necessary.
• 38:45
  They need 60 votes in the Senate to overcome the filibuster.
• 38:51
  The Genius Act had bipartisan support.
• 38:53
  I think it ended up with 67 votes total.
• 38:56
  But again, because of the bipartisan nature of it, there
• 38:59
  needs to be some type of compromises where I think Scott
• 39:02
  Besson a little bit kind of downplayed those compromises is
• 39:06
  what are those compromises? Another thing also too is the
• 39:09
  banking industry came out as if their life depended on it.
• 39:14
  And basically, are they really, really don't want people taking
• 39:22
  out their deposits and putting it with alternatives.
• 39:27
  We're kind of in this revolutionary era right now in
• 39:31
  finance. And it's not just because of
• 39:33
  Bitcoin. We have to be, we have to be
• 39:35
  open here. It's because of the stable coin
• 39:38
  revolution, right? Stable coins have been adopted
• 39:41
  on a worldwide scale. It's some countries they're,
• 39:45
  they're essentially being used like as, as money on a, on a
• 39:51
  regular basis. And the reality is, is that
• 39:54
  banks in the United States are absolutely terrified that people
• 40:00
  take their money out of the banking system and they start to
• 40:05
  go and. Use alternatives.
• 40:08
  So they leave their money on, on, on, on platforms, on on
• 40:12
  ramps, or they leave their money on stable coin or they just
• 40:16
  leave their money in stable coins, right?
• 40:18
  Like I know I'm not going to dox anybody, but I know people that
• 40:21
  literally just use cash app as their bank account, as their
• 40:24
  banking, as their banking system, because they don't even
• 40:26
  want to open a traditional bank, a bank account, right?
• 40:30
  And again, these banks make money by holding their money.
• 40:33
  They take your money, they lend out your money.
• 40:36
  Back in the day, they used to pay you interest for that.
• 40:39
  They still technically pay you interest for that, but the
• 40:42
  interest is miniscule. So they're absolutely terrified
• 40:47
  of Coinbase or of some of these stable coins offering you
• 40:51
  interest. Because if they offered you
• 40:53
  interest, all of a sudden you're not really incentivized to leave
• 40:57
  your money in Ajpmorgan, Chase, or a Bank of America.
• 41:03
  Because not only do they not pay you the interest, they we
• 41:07
  actually charge you a monthly maintenance fee if your balance
• 41:10
  is below a certain amount. So check this out.
• 41:13
  Not only do you give them your money, they make money off of
• 41:17
  your money. They charge you so that you have
• 41:21
  the privilege of being able of them being able to hold your
• 41:25
  money. That doesn't make sense.
• 41:28
  And instead of the banks competing, which is how the free
• 41:31
  market is supposed to work, what they're doing is that they're
• 41:34
  putting pressure on government to basically say, no, we don't
• 41:38
  want this competition, right? So essentially, you know, if the
• 41:43
  the clarity Act has has basically been that that is the
• 41:46
  the main point of contention in the clarity Act right now.
• 41:50
  As as I understand, and another thing that I'll say as well is
• 41:55
  from a Bitcoiners perspective, really what I care about, as if
• 41:59
  the clarity Act is going to protect the right to self
• 42:01
  custody. If we get that into legislation,
• 42:04
  I think that is a massive victory for our industry.
• 42:08
  As a Bitcoiner, as someone who is, you know, spot Bitcoin Max,
• 42:13
  I don't own any Bitcoin, but you know, spot Bitcoin Maxie and
• 42:18
  self custody Maxie. Of course, I don't hold any
• 42:21
  Bitcoin in self custody, but if I did, that's how I would do it.
• 42:25
  You know, again, that is the piece of legislation that I'm
• 42:29
  looking for because even if the political pendulum Swifts back
• 42:34
  swings back, they can't really retract that.
• 42:38
  They can't really walk that back once that's in law, right?
• 42:42
  So that's really what I'm looking for in the Clarity Act.
• 42:45
  Of course, it's going to give a lot of confidence to Bitcoin
• 42:48
  businesses in the United States. It's going to provide, it's in
• 42:51
  the name clarity, regulatory clarity for a lot of Bitcoin
• 42:56
  businesses to, you know, do what they need to do.
• 42:59
  Because right now it's kind of been this patchwork of every
• 43:03
  state has different regulations and then some states don't
• 43:06
  regulate this way and then another state regulates that
• 43:09
  way. But there's no really like, you
• 43:12
  know, rules of the road, you know, standard set in place.
• 43:17
  It's kind of like this piece meal patchwork system that's
• 43:21
  kind of been put together and that creates situations like,
• 43:26
  you know, the whole prime trust situation where essentially, you
• 43:29
  know, this trust that is supposed to offer, you know, all
• 43:32
  these types of protections to consumers.
• 43:35
  Basically, you know, comes out and says, oh, we actually lost
• 43:40
  all that Bitcoin in self custody.
• 43:42
  It creates situations where, you know, one of the people that
• 43:45
  they hired to custody all that Bitcoin on behalf of the US
• 43:49
  Marshall service, their son goes on discord and is like actually,
• 43:52
  you know what, I have dad's Bitcoin in myself custody wallet
• 43:56
  on my Ledger, you know, and that of course, that's Bitcoin that's
• 43:59
  supposed to belong to the American people.
• 44:01
  So again, I could I think that clarity act is really important.
• 44:04
  And then it goes back to Trump's agenda.
• 44:07
  Trump's agenda, as he said many, many times, is make the United
• 44:11
  States the Bitcoin capital of the world, the AI capital of the
• 44:15
  world. And the reason he wants to do
• 44:17
  that is because he believes that if the United States doesn't
• 44:20
  take a leadership role in that, other countries will step in and
• 44:25
  take that leadership role. So he's looking over his
• 44:28
  shoulder, looking at Russia, looking at China.
• 44:31
  And he wants the United States to be the undisputed, you know,
• 44:34
  leader in, you know, in this type of innovation.
• 44:38
  So let's see if the Clarity Act gets passed.
• 44:40
  Opti's like cracking up and I want to know why.
• 44:44
  Yeah, the chats. Oh man, the sorry guys, sorry
• 44:53
  the the the chats losing it over you saying that you don't hold
• 44:57
  any Bitcoin. I don't yeah, yeah, we don't
• 44:59
  hold any Bitcoin. We.
• 45:00
  Lost it. Why?
• 45:01
  Why would anyone think that I hold?
• 45:02
  Bitcoin, yeah, we just like to talk about it anyways anyways,
• 45:05
  you know? I'm serious, I don't know why.
• 45:07
  Like that's kind of fucked up. Like why would you think I hold
• 45:10
  Bitcoin? He yelled people.
• 45:13
  Oh man. All right.
• 45:14
  Anyways, anyways, do you hold Bitcoin?
• 45:16
  No, not at all. I just talk about it.
• 45:20
  There is an update though here. So we will get at least AI
• 45:24
  don't, I don't want to say an update, but we will be getting,
• 45:29
  I guess, you know, the conversation will go further
• 45:32
  later today. So there will be a meeting later
• 45:35
  today. Hold on, let me let me swap
• 45:36
  this. So Eleanor Terrett again, doing
• 45:38
  really good journalism. She goes, the White House will
• 45:40
  host representatives from the banking and crypto industry this
• 45:43
  afternoon at 2:30 PM. So basically right when the show
• 45:46
  ends, they'll be holding a meeting for the second iteration
• 45:49
  of the stable coin yield negotiations.
• 45:52
  Again, that as we've all heard is basically the one thing
• 45:56
  that's been holding up this clarity Act is about stable coin
• 46:00
  yield or at least that's what the the narrative is anyways.
• 46:04
  One thing I did see is that they're just going to be have
• 46:08
  like representatives there. And so the bank set to attend
• 46:13
  include will be Goldman Sachs, JP Morgan, Bank of America,
• 46:16
  Wells Fargo, Citi, PNC Bank and U.S.
• 46:19
  Bank along with trade group to bank policy, ABA bankers and
• 46:22
  ICBA, which is independent community banks.
• 46:27
  Some of the crypto attendees include I am Paul Greywell of
• 46:31
  Coinbase, Miles Jenning of A16Z and Summer Mersinger of
• 46:37
  Blockchain Association. Wow, that's not the best, not
• 46:42
  the best representation for the Bitcoin industry here.
• 46:45
  But anyways, according to the two sources familiar with the
• 46:47
  matter, attendees received an e-mail from the White House
• 46:49
  yesterday emphasizing the need to come prepared for today's
• 46:52
  discussions with serious proposals and a willingness to
• 46:56
  compromise. So later today or maybe tomorrow
• 47:00
  morning, we will probably get some news coming out of this.
• 47:04
  I guess we'll get some form of resolution or at least we'll see
• 47:07
  whether the the negotiations are stalled or whether there's a
• 47:12
  compromise. And usually by compromise it
• 47:16
  means both sides are probably not going to be that happy
• 47:18
  coming out of this. So we'll see what happens.
• 47:21
  There is a meeting later today on the books.
• 47:25
  I don't know at this point I'm, I'm not really holding my breath
• 47:29
  and I might kind of disagree with Scott Besson This Scott
• 47:32
  Besson on the the only thing holding up the, the Bitcoin or
• 47:36
  the only thing pushing down the Bitcoin price is that we haven't
• 47:39
  pushed clarity act in. I I just think, you know, market
• 47:43
  sentiment's bad and people thought the four year cycle was
• 47:46
  happening so they sold out and now they're waiting for a bear
• 47:49
  market before they get back in. That's probably my one
• 47:52
  contention against Scott Besson. But again, we'll see.
• 47:56
  Hopefully something comes out of this.
• 47:58
  Hopefully some good news will come out of this tonight.
• 48:01
  We'll see what happens anyways that that's the last update.
• 48:05
  Yeah, so anyways, guys, give me a great show.
• 48:08
  Like I said earlier, we're going to post.
• 48:09
  We're going to be playing a clip of Andreas Antonopoulos.
• 48:14
  What? All these years and don't hold
• 48:16
  Bitcoin, I'm happy. Yeah, you guys didn't know me
• 48:19
  and Opti don't hold Bitcoin, Yo, why is that surprising?
• 48:24
  Wow. We've always, we've always,
• 48:25
  we've been very. Oh man.
• 48:26
  We've been very steadfast. Oh man, oh man, oh man, of
• 48:29
  course we don't. Hold hold Bitcoin.
• 48:36
  Why would we hold Bitcoin? Dude we're fans of.
• 48:40
  Bitcoin bro, just keep it moving.
• 48:47
  So anyways, guys, we're going to be right back in just a SEC.
• 48:52
  We're going to check out some clips from the one, the only
• 48:55
  Andres Antonopoulos. Stay tuned.
• 48:57
  And then we got the culture segment coming up.
• 49:01
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• 51:37
  today, get yourself a Bitkey hardware wallet is that promo.
• 51:41
  I think we got to update that promo Opti.
• 51:44
  No, I think that's the new one. Simply 99.
• 51:46
  Simply 99. Yeah, yeah, yeah.
• 51:48
  That's a new one. How much does it get off What
• 51:50
  percentage? I don't know.
• 51:53
  Instead of 150, it's $99. So instead of 100.
• 51:56
  And $50. It's $99 if you use promo code
• 51:59
  Simply 99, right? So that's 33% off.
• 52:04
  Your math's better than mine. So you get roughly 33% off,
• 52:09
  yeah, like 30 something percent off.
• 52:11
  That's a That's a big distance. You get 50 bucks off, 50 bucks
• 52:13
  off instead of 20%. $50 you get a third off.
• 52:17
  Yes, yes, that is math. So you get. 1/3 off if you use
• 52:21
  promo code simply 99. This is literally the easiest
• 52:26
  hardware wallet to use on the market without sacrificing
• 52:29
  security. It has multi sig built in and
• 52:31
  has inheritance built in. And breaking news, if you use
• 52:34
  promo code simply 99 you get a 1/3 off the that's funny.
• 52:40
  You get one third off the purchase price.
• 52:42
  So instead of it being $150 at retail, you get you can buy it
• 52:46
  for 99 dollars. That's a that's a heck of a
• 52:49
  discount. So anywho, let's play this clip
• 52:53
  of the one the only Andreas Antonopoulos again, kind of
• 52:58
  foreshadowing, predicting some things that would happen.
• 53:04
  Let's check out the clip. The problem is we are going to a
• 53:09
  digital currency society where cash will be gradually
• 53:12
  eradicated either through non use or a lot of countries and a
• 53:16
  lot of governments are trying to actively ban it.
• 53:19
  So they're putting limits on how much you can use cash.
• 53:22
  Say you know, $1000 and if it's more than $1000, using cash is
• 53:26
  illegal. When we go to the society, we
• 53:29
  have to really think about the implications.
• 53:30
  Do we want a society in which our digital money is under
• 53:34
  complete surveillance and complete control?
• 53:36
  Where if you go to the wrong protest, or if you support the
• 53:39
  wrong political campaign, or if you make a payment to the wrong
• 53:43
  person or receive money from the wrong person, suddenly your
• 53:45
  money disappears. It's no longer yours anymore.
• 53:47
  It's frozen, it's seized, it's gone.
• 53:51
  And someone has control of that. Corporations, banks,
• 53:54
  governments. And in most cases, there is no
• 53:56
  difference between Corporation, Bank and government, right?
• 53:59
  And so that's one scenario. And the other scenario is 1, in
• 54:03
  which individuals control their money.
• 54:05
  And it is digital money, but it's digital cash, like Bitcoin,
• 54:07
  where you can pay an individual from one person to another, just
• 54:10
  like I can with cash today without any other party getting
• 54:13
  involved. What really strikes me as
• 54:15
  amazing is that we've gotten used to this idea so quickly,
• 54:19
  which is that we no longer pay people.
• 54:23
  We no longer pay people directly.
• 54:25
  The less we use cash, the more we pay people through a
• 54:28
  corporation, right? So from tipping your valet to
• 54:33
  tipping your taxi driver to tipping wherever, tipping is
• 54:36
  pretty much the last remaining part of our society where cash
• 54:40
  is used to pay from one person who is not an incorporated
• 54:43
  entity to another person who is not an incorporated entity.
• 54:47
  Everything else you have to pay for a corporation, whether it's
• 54:49
  a bank, right, whether it's Venmo, whether it's PayPal,
• 54:53
  whether it's any of those things.
• 54:54
  And we've gradually gotten used to this environment where we
• 54:57
  can't pay another person unless there's a corporation involved.
• 55:00
  And that's astonishing to me. And as cash disappears, that
• 55:03
  then becomes a final fact that every single payment in your
• 55:07
  life will be from you to a corporation.
• 55:09
  And that corporation takes a piece of that, every single
• 55:11
  thing. And not just that, it doesn't
• 55:13
  just take a piece, it also controls and surveils and
• 55:16
  monitors your juice. And if you violate the terms and
• 55:18
  conditions, you are destitute. Wow.
• 55:21
  So our so the issue is not what we have today versus the digital
• 55:26
  currency of the future or Bitcoin or whatever.
• 55:29
  It's both. Futures are digital currency and
• 55:31
  in both futures cash will no longer exist.
• 55:34
  That is inevitable. We are going down that road and
• 55:37
  now we have to choose. Do we go to the digital cashless
• 55:40
  Society of corporate control over money with the complete and
• 55:44
  total merging of corporate and state money, where instead of
• 55:49
  having separation of state and money, have the merging of state
• 55:51
  and money and corporation and money?
• 55:53
  Where your money is branded money.
• 55:55
  You have Chase dollars, you have Goldman Sachs dollars, you have
• 56:01
  Coca-Cola dollars, right? You have money that is
• 56:03
  controlled by a corporation. Or do we go down the other
• 56:06
  future where we have money that is basically an Internet
• 56:08
  Protocol that is completely global, that any person can pay
• 56:11
  any person they meet in the streets without any corporations
• 56:13
  getting involved? Just for me to you digital cash
• 56:17
  and and that's really the it's a less optimistic view because I'm
• 56:20
  fully aware of what the other future is and it's already
• 56:22
  playing out and it is a very, in my opinion, a very dangerous
• 56:25
  future. So I mean, what's really crazy
• 56:30
  about this is like you're hearing this now and you're like
• 56:32
  Nico, duh. Like like what is this?
• 56:36
  This is not, this is not breaking news.
• 56:38
  This was the this was before the effing pandemic.
• 56:42
  This was before the Canadian truckers protest.
• 56:45
  This is when Joe Rogan, this was before Joe Rogan was tapped on
• 56:50
  the shoulder and not asked to bring bitcoiners on his show,
• 56:54
  right? This was back in 2016,
• 56:56
  allegedly. Why hasn't he brought on Sailor?
• 57:00
  Why hasn't he brought on he? Doesn't want to talk to him.
• 57:03
  Why? Hasn't he brought on Safedine?
• 57:04
  He. Doesn't want to talk to him.
• 57:07
  Oh, and he just wanted to talk to Andreas about the same
• 57:09
  things. Yeah.
• 57:10
  What? What has changed?
• 57:12
  What has changed from then and and now?
• 57:16
  He wants to talk about, I don't know, DMT or something else.
• 57:20
  I don't know man, I. I think, I think it's awfully
• 57:23
  suspicious, my friend. So a lot of these predictions,
• 57:27
  these prophecies that Andreas said essentially came true.
• 57:32
  Canadian truckers protest. They are trying to get rid of
• 57:35
  cash. You CBD CS, you are destitute,
• 57:38
  you are a slave. And that's exactly what the
• 57:41
  European Union's trying to do right now with with the digital
• 57:43
  euro, right? They're moving full steam ahead
• 57:46
  on all this stuff. And there's political factions
• 57:48
  in the United States that want to do this as well.
• 57:51
  Mind you, this was 2016. This was a decade ago, 10 years
• 57:55
  ago, and he told you exactly what's going to happen.
• 57:58
  And then you have Larry Fink on TV talking about tokenizing the
• 58:02
  world and tokenizing property and tokenizing this and
• 58:05
  tokenizing that. That If they are tokenizing
• 58:10
  stocks and all these things, that means they can freeze them,
• 58:13
  right? So man, I want to get your takes
• 58:21
  on this Opti. I feel like you're going to go
• 58:22
  harder in the paint than I am. I'm a little bit more.
• 58:25
  I like, I like this comment. Go on the show and tell them you
• 58:28
  want to talk about aliens, but then rug pull and talk about
• 58:31
  Bitcoin. That's the way.
• 58:35
  Oh, sorry, I went wrong one. Yeah.
• 58:37
  So someone in the in the chat asked what year was this Nico, I
• 58:42
  don't know if you know for sure. Was this a 2016 episode 'cause
• 58:45
  he's been on a few times. First one 2013 that was episode
• 58:50
  466. I'm I'm looking at perplexity
• 58:52
  right now. IAI this, you know, I I Google
• 58:56
  searched this or web searched it basically.
• 59:01
  And then episode 490 is 2014. Episode 581 was also 2014.
• 59:07
  And then the last one was episode 844, 2016.
• 59:11
  So I don't know exactly what what episode this was guys, but
• 59:16
  safe to say this was over a decade ago, if not 13 years ago.
• 59:20
  So, you know, yeah, Big Corner hasn't been on Joe Rogan for a
• 59:24
  long time now. What is interesting and I think,
• 59:29
  you know, I don't want to use Nico as a Barry delete here, but
• 59:32
  what is interesting is when Andre said this and we were all
• 59:36
  getting into Bitcoin and we were all watching Bitcoin content,
• 59:39
  there wasn't that much Bitcoin content at the time.
• 59:42
  When Andre said this, like Nico just said a minute ago, it was
• 59:45
  like one of those aha moments for us.
• 59:48
  Now, a decade later, it's so obvious.
• 59:51
  We're like, oh, yeah, of course. Like, yeah, that's exactly how
• 59:54
  things work, at least if you're a bitcoiner.
• 59:57
  If you talk to an average everyday person, they don't
• 1:00:00
  understand that, you know, all of the world's money basically
• 1:00:03
  goes to corporations. No money is peer-to-peer.
• 1:00:05
  They don't even know what peer-to-peer is.
• 1:00:07
  Unless you explain it like, yeah, if you hand cash to
• 1:00:10
  someone. Now, I do have someone on
• 1:00:13
  Rumble. Bless his heart, JJ, you know
• 1:00:16
  who you are. I wonder if he's in there today.
• 1:00:17
  I don't think he's in there today, but the Rumble chat knows
• 1:00:20
  him. He's one of the the reigning
• 1:00:24
  Fiat Maxis on Rumble. But he watches simply Bitcoin
• 1:00:27
  every single day and he always says the same thing.
• 1:00:30
  It's like they're trying to yeah, we have a guy, he's a Fiat
• 1:00:35
  maxi on Rumble. Yeah, he's a cash maxi.
• 1:00:39
  But he hangs out on Rumble with us every single day basically.
• 1:00:43
  And we always get me the Rumble chat versus JJ, it's like 20
• 1:00:49
  verse one basically. And he's always saying, you
• 1:00:51
  know, cash, like they want to take away cash.
• 1:00:54
  Bitcoin is just digital currency like every other thing.
• 1:00:57
  And every one of us in the chat always says something on the
• 1:01:00
  lines of our money already is digital bro.
• 1:01:04
  Like, OK cool, you can physically hand off cash.
• 1:01:07
  Yes, you know, physically handing cash is more private
• 1:01:10
  than say a public blockchain, a public Ledger that everyone can
• 1:01:15
  see. But with that comes the fact
• 1:01:17
  that you are losing purchasing power, like very quickly.
• 1:01:21
  You know, we lost 10% in the last year in dollars.
• 1:01:25
  So yeah, if you're storing cash, maybe it's more private, but you
• 1:01:30
  you can't save your way out of it.
• 1:01:32
  Like you're you're losing purchasing power.
• 1:01:34
  And we always say one of two things, like I just said, our
• 1:01:37
  money's already digital. And then the other one's usually
• 1:01:39
  like, we live in a digital world.
• 1:01:41
  Money is headed into the digital realm.
• 1:01:45
  And Andres was saying this 1013 years ago, essentially outlining
• 1:01:51
  where we are. So in hindsight, looking back,
• 1:01:53
  it is a bit prophetic. Yes, Andreas is kind of, you
• 1:01:57
  know, pulled back from the limelight.
• 1:01:59
  Maybe it's because the Bitcoin content has gotten so good.
• 1:02:02
  Maybe it's because, you know, the whole shit coin rabbit hole
• 1:02:06
  that he went down and the mastering Etherium book or
• 1:02:09
  whatever. But suffice to say, without
• 1:02:12
  Andreas, we wouldn't be here. I remember when I got into
• 1:02:16
  Bitcoin 2017, he was the guy that I watched.
• 1:02:19
  That orange peeled me. You know I heard about Bitcoin
• 1:02:22
  before and then just when I was ready to get into Bitcoin.
• 1:02:26
  I, I literally watched one Andreas clip and sat there for
• 1:02:30
  like an hour afterwards just re watching every other video.
• 1:02:34
  And that was like the very early days for me is just watching
• 1:02:38
  Andreas Antonopoulos videos on YouTube to try to understand
• 1:02:43
  what this Bitcoin thing was at the time.
• 1:02:46
  Again, it was a perspective that I never really thought about.
• 1:02:51
  Now we've gotten to a point where everything is it, it's so
• 1:02:54
  obvious what is going on. It's so obvious that everything
• 1:02:57
  is digitally tracked. It's so obvious that you know,
• 1:03:00
  everything is surveilled. The social media you know, is,
• 1:03:04
  is potentially heading into a social credit score.
• 1:03:07
  It's so obvious now that the money or rather the powers that
• 1:03:12
  be want to launch ACBBC. They're actively talking about
• 1:03:15
  it themselves. And so now you, you sit here.
• 1:03:20
  And if that binary choice is true, what Andreas is saying
• 1:03:24
  that look, we're heading digital.
• 1:03:27
  The money is digital already. It's going to go digital.
• 1:03:30
  Now. The only choice you really have
• 1:03:32
  is do you want to use, you know, JP Morgan corporate coin or, you
• 1:03:37
  know, European Central Bank coin, or do you want to use the
• 1:03:41
  money that they can't control, AKA Bitcoin?
• 1:03:43
  Those are pretty much the choices.
• 1:03:45
  Or even further, if you're a shit coiner, if you're out there
• 1:03:48
  and you're a crypto casino guy, it's like, do you want to use a
• 1:03:51
  coin that is run by a corporation that is its own
• 1:03:55
  digital creation that they printed their own money out of
• 1:03:57
  thin air? Or do you want to use something
• 1:04:00
  that no one controls, that there is no corporation behind?
• 1:04:03
  Those are literally the only two choices.
• 1:04:05
  And it is interesting that Andreas did end up kind of going
• 1:04:09
  into the the shit coin kind of route a little bit.
• 1:04:12
  You could argue that he was just covering, you know, cool
• 1:04:15
  technology, you know, in it for the tech, all that stuff.
• 1:04:18
  But that choice is still the same choice.
• 1:04:21
  It's either a corporate coin or it is Bitcoin, or it's an
• 1:04:25
  institution state coin, or it is Bitcoin.
• 1:04:29
  Those are literally the only two choices you have right now.
• 1:04:33
  So yes, if you are a cash maxi and you're trying to use cash
• 1:04:37
  'cause it's more private, you know, hey, there's a time and a
• 1:04:40
  place for that, I think. I don't think Cash is going away
• 1:04:42
  for a while. Did did you say that entire bit
• 1:04:46
  just for the dude on Rumble? No, no, no, that was just to I.
• 1:04:49
  I argue with him every single day.
• 1:04:51
  JJ knows what? We're home.
• 1:04:52
  Where is this dude on Rumble? He's not.
• 1:04:54
  He's not on here yet. But yeah, FC shout out to judge
• 1:04:58
  yet. Where?
• 1:04:58
  Is he? Where is he?
• 1:05:00
  Where? Is he's not on here today.
• 1:05:01
  He's not. He's not in here today.
• 1:05:03
  You missed. You missed the You missed the
• 1:05:04
  show where Opti's. I'm shouting him out dude.
• 1:05:07
  He's famous today. Even, oh even the Rumble people
• 1:05:11
  know who you're talking about. Dude, of course they hang out
• 1:05:14
  with him every single day. They're literally battling him
• 1:05:16
  every single day. He's a reigning cash maxi.
• 1:05:22
  Anyways, if you guys are enjoying the show so far, we got
• 1:05:24
  some zaps over on Noster. I appreciate the Rumble audience
• 1:05:30
  and and let's get to the culture segment.
• 1:05:36
  We're going to be right back in just a bit.
• 1:05:37
  Before we do that, I do want to give a shout out guys to the
• 1:05:41
  largest Bitcoin conference on planet Earth.
• 1:05:44
  Simply Bitcoin will be making an appearance and it's going to be
• 1:05:49
  awesome. We went, we went pretty hard
• 1:05:52
  last year. We're going to go pretty hard
• 1:05:55
  this year. You guys are definitely not
• 1:05:57
  going to want to miss it. And of course, what are we
• 1:06:00
  talking about? We are talking about Bitcoin
• 1:06:03
  2026 in Las Vegas, NV, the biggest Bitcoin conference of
• 1:06:09
  the year. I consider it Bitcoin Super Bowl
• 1:06:12
  week. It's April 27th through the 29th
• 1:06:15
  at the Venetian Hotel. You want to get your tickets
• 1:06:19
  quickly because the prices do go up.
• 1:06:22
  If you use promo code simply, you got 10% off your tickets
• 1:06:26
  again April 27th through the 20 29th of 2026 at the Venetian
• 1:06:32
  hotel in Las Vegas NV. Confirmed speakers so far
• 1:06:36
  include Michael Saylor, David Bailey, Arthur Hayes, Mike
• 1:06:41
  belshie, Peter McCormack, Brent Johnson and many many more.
• 1:06:45
  You guys don't want to miss the biggest Bitcoin celebration of
• 1:06:49
  the year, the Bitcoin Super Bowl week, as I call it Bitcoin 2026
• 1:06:56
  Las Vegas NV again, use promo code simply promo code simply to
• 1:07:01
  get 10% off your tickets to Bitcoin 2026.
• 1:07:05
  These simply Bitcoin team will be there.
• 1:07:07
  We hope to see you guys on the conference floor.
• 1:07:10
  See you guys at Bitcoin 2026. All right everybody, let's get
• 1:07:14
  to the culture. We have tons to cover.
• 1:07:16
  We're going to be right back in just a bit.
• 1:07:19
  I want to give a shout out to our partner Hive Digital
• 1:07:22
  Technologies. Fueled by clean energy, Hive has
• 1:07:25
  quadrupled its global Bitcoin mining footprint and channels
• 1:07:29
  that same scale into high performance compute, where their
• 1:07:33
  AI cloud is now ranked number one in the world for network
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  performance. At Hive, you've got dual
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  engines, Bitcoin and AI humming, roaring, accelerating and
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  unison. They're lean and mean.
• 1:07:46
  They're green and clean, and they're rewriting the playbook
• 1:07:49
  on sustainable digital infrastructure.
• 1:07:51
  You can catch the latest buzz at Hive Digital Tech or at Hive
• 1:07:55
  digitaltech.com. All right, everybody, we are
• 1:08:03
  back. Oh, wow, that was that was such
• 1:08:07
  AI wasn't ready for that. That was short.
• 1:08:09
  OK, OK, OK. Look, I was talking about this
• 1:08:13
  earlier in the show, the idea that the FUD, it's starting,
• 1:08:17
  it's starting to to grow. You know, the chorus of FUD is
• 1:08:20
  starting to grow. And recently there is some
• 1:08:23
  evolution to the FUD you like right now we've had the quantum,
• 1:08:30
  you know, quantum computing cracking Bitcoin FUD, which is
• 1:08:35
  like all the rage right now. We have that's the standard
• 1:08:39
  bitcoins of Ponzi, you know, Tulip mania stuff.
• 1:08:43
  We have bitcoins crashing to 0 type stuff.
• 1:08:48
  We have the the new, you know, files released, thus the
• 1:08:54
  creators of Bitcoin FUD going on.
• 1:08:57
  So you're seeing all the FUD happen and in the early days,
• 1:09:03
  literally where simply Bitcoin was like birthed out of we used
• 1:09:08
  to counter all of the shit coin FUD.
• 1:09:10
  That's like where we earned our stripes.
• 1:09:12
  That's that's where we, you know, we sharpened our, our
• 1:09:15
  metaphorical blades here. That's that's what we came out
• 1:09:18
  of that was our culture. But we are starting to see new
• 1:09:22
  rounds of FUD being created. And I think it's only going to
• 1:09:25
  increase if the Bitcoin price does drop more, if we have a
• 1:09:30
  prolonged bear market, the, the Horus of FUD of haters is going
• 1:09:34
  to continue to go up. Well, we got to, I wouldn't say
• 1:09:36
  it's a new FUD line, but I think we have a good example of what
• 1:09:40
  usually happens, or rather, who are the people that are
• 1:09:44
  spreading the FUD. And This is why now, maybe it's
• 1:09:47
  because I'm getting older, maybe I'm slightly maturing a little
• 1:09:50
  bit, but I, I, I fundamentally just ignore all the FUD at this
• 1:09:55
  point. It's like you see it, it is what
• 1:09:58
  it is like whatever, let's look at more productive things.
• 1:10:01
  Let's try to figure out what's going to be a good show for you
• 1:10:03
  guys. Let's try to understand what's
• 1:10:05
  going on in the macro market, what's going on with Bitcoin.
• 1:10:08
  That's what I try to do. Now, in the past, it used to
• 1:10:11
  wholly consume me. I used to battle it.
• 1:10:13
  I used to, you know, do massive tweet threads that counter the
• 1:10:17
  FUD. Now we're getting to a point
• 1:10:19
  where I really don't even think that that's beneficial to
• 1:10:23
  Streisand affect the FUD. But I'm going to do a little bit
• 1:10:26
  of that on today's show because this, this is a pretty good
• 1:10:28
  example of, of really looking at who the source is to this FUD.
• 1:10:33
  And then you can really make your, your own opinion about it.
• 1:10:36
  But most people don't really have the time.
• 1:10:38
  They'll just see a headline and like, that's the end of the
• 1:10:40
  story. Like I even had my brother text
• 1:10:42
  me and my cousin text me like, yo, what's this?
• 1:10:46
  What's this headline about? You know, this guy being the,
• 1:10:51
  the real creator of Bitcoin. I'm like, bro, like, All right.
• 1:10:54
  Anyways, anyways, I say all that to say I don't know if you guys
• 1:10:58
  saw this, but the Financial Times AKA what we've been
• 1:11:02
  calling the Fiat times for forever dropped this over the
• 1:11:06
  weekend and it goes. Good morning Asia.
• 1:11:08
  While you were sleeping, one of our most read articles was this
• 1:11:12
  opinion piece about Bitcoins worst crash since 2022.
• 1:11:16
  Ever since its creation, Bitcoin has been on a journey that will
• 1:11:19
  end splattered on the ground, writes Jemima Kelly.
• 1:11:24
  And I got a screenshot here. Opinion Bitcoin is still about
• 1:11:27
  $70,000 too hot. It's a.
• 1:11:31
  It's a. It's.
• 1:11:32
  A provocative headline. You know, maybe if you weren't a
• 1:11:35
  hardcore obsessed bitcoiner you would read this and be like, oh
• 1:11:38
  I'm so glad I didn't buy Bitcoin.
• 1:11:40
  Such a good idea that I didn't get caught up in the hype.
• 1:11:43
  It is going to, you know, as the picture shows splatter on the
• 1:11:46
  ground. Well, shouts out to our boy
• 1:11:48
  Walker. Nika looks at me crazy.
• 1:11:51
  Nika's looking at me crazy. Here is Walker and I have
• 1:11:55
  Francis, which one of the most hardcore bitcoiners.
• 1:11:58
  I love Francis. Haven't seen him in a while.
• 1:12:00
  Here's Walker's take on it. He goes the same person who just
• 1:12:03
  wrote the headline changing Financial Times Fiat Times
• 1:12:08
  article about how Bitcoin is going to zero was bear tweeting
• 1:12:10
  about Bitcoin when it was $300 after Bitcoin's recent quote UN
• 1:12:15
  quote crash. It's up 23,000% recent, recent,
• 1:12:19
  recent crash. All right, I'll do that.
• 1:12:22
  I'll drink some water. I'll drink some water.
• 1:12:24
  I'll drink some water. Making funny, making funny,
• 1:12:26
  making fun of my wow. You, you literally all right,
• 1:12:29
  tries that, tries that dunk on me.
• 1:12:31
  Can't even speak English. OK, sorry.
• 1:12:35
  I had, I had a, you know, saliva in my mouth.
• 1:12:37
  Anyways, after Bitcoin's recent crash, it's up 23,000% from $300
• 1:12:42
  to 70K. Good reminder that people who
• 1:12:45
  consistently hate on Bitcoin are often just mad that they were
• 1:12:48
  aware of Bitcoin years ago but failed to buy.
• 1:12:51
  Another good example is, of course, Peter Shipp.
• 1:12:53
  Now Francis goes a little harder and in the context of all the
• 1:12:59
  FUD you're seeing right now from all of the, you know, every
• 1:13:04
  side, Let's just let's just do every side from old quote UN
• 1:13:07
  quote bit corners to Fiat times maxies.
• 1:13:11
  I think France's super hardcore Bitcoiner really hits the nail
• 1:13:15
  on the head. So here's Francis and I might
• 1:13:19
  might need to censor a little bit, but here's Francis.
• 1:13:23
  He goes every bear market. The losers who didn't buy
• 1:13:26
  Bitcoin during the previous bear market, when Bitcoin was five
• 1:13:29
  times cheaper, crawl out of their bitterness caves to tell
• 1:13:32
  you that quote Bitcoin isn't like it used to be, and
• 1:13:35
  Bitcoiners are this or that, or even Bitcoin has failed and
• 1:13:39
  Bitcoin is dead. Instead of seizing the
• 1:13:41
  opportunity to buy Bitcoin at a low price like any rational
• 1:13:44
  person would. These are not rational
• 1:13:47
  creatures. They are highly emotional ones.
• 1:13:50
  They seize the opportunity to drag you down to their level so
• 1:13:53
  they can feel justified for having once again been wrong
• 1:13:56
  about Bitcoin. Often they've been hearing about
• 1:13:58
  it for more than 10 years. They are not looking for
• 1:14:01
  freedom, nor individual sovereignty, nor improvements of
• 1:14:04
  their condition. They are looking for emotional
• 1:14:06
  validation, comfort, the hollow and fleeting feeling of not
• 1:14:09
  being as stupid as they thought. Know that during bull markets
• 1:14:13
  their self esteem is completely crushed and they take their
• 1:14:16
  revenge when the price drops. They expose their intellectual
• 1:14:20
  and mental weakness for everyone to see.
• 1:14:23
  They cannot stand the relentless optimism of Bitcoiners.
• 1:14:25
  They are addicted to their doomer mentality and their
• 1:14:28
  cynicism. It is the pinnacle of
• 1:14:30
  mediocrity. They are inconsequential people.
• 1:14:33
  They are even more unbearable than those who finally bought
• 1:14:36
  Bitcoin at the top and regret it and make sure you know it.
• 1:14:40
  Incapable of handling risk and volatility.
• 1:14:43
  It happens to everyone. It's cyclical.
• 1:14:45
  In the end, they don't care about you, they just want to use
• 1:14:48
  you as a means to comfort themselves in their insecurity
• 1:14:51
  and to feel less pathetic. Don't let them since we are in a
• 1:14:56
  four month bear market so far and I'm sure some of the old,
• 1:15:01
  old heads in the chat, you know, if you guys are unks like me now
• 1:15:05
  you, you look at all this stuff and you're just like it.
• 1:15:08
  It simply doesn't pass through the mind filter.
• 1:15:11
  You're just like yeah, OK, on to the next thing.
• 1:15:14
  But it does seem looking at the chat again, I hang out with you
• 1:15:17
  guys in the chat everyday. Some people are still new to
• 1:15:21
  this fun game. Some people are still new to
• 1:15:23
  this propaganda and I, I don't necessarily want to be just look
• 1:15:27
  at who is writing this stuff because that's, you know, 2nd
• 1:15:30
  order thinking and a lot of people don't have that.
• 1:15:33
  But usually as a blank heuristic here, anyone that is out there
• 1:15:38
  right now hating on Bitcoin, you could pretty much put them in
• 1:15:42
  these categories. They either miss Bitcoin,
• 1:15:44
  they're bitter that they didn't buy Bitcoin, or they're
• 1:15:47
  incentivized to essentially lie about Bitcoin or the jobs are
• 1:15:50
  based on, you know, Fiat economics.
• 1:15:53
  Most of the FUD that has been circulating in the last couple
• 1:15:56
  of weeks you can plainly ignore or you know, the recent one like
• 1:16:02
  they're, they were Bitcoiners, but they forked off on B cash
• 1:16:05
  and now they're like, I told you, we were right, Bitcoins
• 1:16:08
  been hijacked when in reality they the ones that were
• 1:16:11
  basically either they didn't know were hijacking or they were
• 1:16:15
  lying to everyone. So I think at times like this,
• 1:16:18
  we don't know where the bear market's going to go.
• 1:16:20
  We don't know how long it's going to be.
• 1:16:22
  We don't know where the price is going to go, but part of the
• 1:16:26
  culture segment is obviously arming you with information to
• 1:16:29
  go out there and either disregard this information or
• 1:16:32
  you can go in the trenches and earn, you know, your stripes
• 1:16:35
  right now. But for the most part, all the
• 1:16:38
  FUD that you see is either old FUD that is being recycled.
• 1:16:43
  It's been debunked and now people just think it's a good
• 1:16:48
  time to talk about it because Bitcoin's down from all time
• 1:16:50
  high. Again, The people that usually
• 1:16:53
  hate on Bitcoin, they've just been wrong about Bitcoin and now
• 1:16:56
  is their, their, you know, moment in time where they could
• 1:16:59
  be. I told you Bitcoin was going to
• 1:17:01
  0. So Jemima Kelly really wants to
• 1:17:04
  say, you know, Bitcoin is $70,000 too high.
• 1:17:09
  It's not going to 0. All the Bitcoin haters are all
• 1:17:12
  the same. They're just mad they didn't buy
• 1:17:14
  Bitcoin. And now they have that sunk cost
• 1:17:16
  fallacy where they're like, I should have bought it a long
• 1:17:18
  time ago. I'm not going to buy it now
• 1:17:20
  because I know right when I buy it, it's going to crash.
• 1:17:23
  Hey, just earn your keep and buy some Bitcoin.
• 1:17:25
  It's it's OK, it's fine. So these people are twinks?
• 1:17:32
  Yeah. I don't know.
• 1:17:33
  Yeah, yeah, I might. I might look small on the
• 1:17:35
  camera, but. Opti Opti's an Aztec warrior.
• 1:17:40
  Yeah, yeah. But anyways, Miko, let's let's
• 1:17:42
  remin this a little bit. But actually I want you to
• 1:17:44
  reminisce a little bit. I'm fortunate this on you when
• 1:17:47
  we got in Bitcoin, you know the 2018 trenches.
• 1:17:51
  You mean when it was? Do you?
• 1:17:52
  Remember those days? You remember the 2018 trenches
• 1:17:55
  when we were battle people on Twitter?
• 1:17:57
  It was the good old days, dude. It was the good old days.
• 1:18:01
  Those were, you know, those are some of my best memories in
• 1:18:04
  Bitcoin, bro, you know, like it. Things have gotten a little bit
• 1:18:08
  quieter. Bitcoin has grown, has grown up
• 1:18:11
  and you know, even having beauty on the other day, you know, on
• 1:18:16
  the show, dude, like beauty, beauty on and us used to go hard
• 1:18:21
  in the paint and you know. You had to.
• 1:18:24
  You had to. You had to hold back a little.
• 1:18:27
  Bit and then just looking. Back on like my my rants from
• 1:18:31
  back in the day, like they were militant AF, you know?
• 1:18:37
  So it was a it was a different era.
• 1:18:38
  RIP Nico Jones. It was a different era.
• 1:18:42
  But, you know, it's just part of the course, man.
• 1:18:45
  Like, yeah, someone else I did the the youngins out there, the
• 1:18:49
  Gen. Z ers out there, they need to
• 1:18:51
  take up the baton and be militant so us, us Ox and
• 1:18:55
  boomers can can chill out. Oh man.
• 1:18:59
  Alright everybody, that's the show for today.
• 1:19:02
  If you guys enjoy the show for February 10th, 2026, make sure
• 1:19:05
  to smash that like button. Consider subscribing if you feel
• 1:19:07
  like we provided you value. And of course, we'll see you
• 1:19:09
  tomorrow for many episode of Simply Bitcoin Live.
• 1:19:13
  Today's episode was brought to you by bitcoinwell.com, a
• 1:19:16
  Bitcoin only platform on a mission to enable financial
• 1:19:19
  independence.