Latest / Simply Bitcoin / $7.32T Asset Manager Predicts $1M Bitcoin IF This Happens! | EP 1134

Transcript

$7.32T Asset Manager Predicts $1M Bitcoin IF This Happens! | EP 1134 · Simply Bitcoin

• 0:00
  Yo, the third largest asset manager in the world with a lazy
• 0:05
  $7 trillion of assets under management has just made an
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  incredibly bullish Bitcoin prediction that confirms a lot
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  of things that I've been saying that this cycle could be
• 0:16
  different. And before we get into all that,
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  let's just play the clip for you guys.
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  Let's let's hear it from the horse's mouth.
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  What? Where does it go?
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  What's your What's your price target for Bitcoin?
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  So I think in the short term, we're going to see one of two
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  cases. The first case is we're going to
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  have some sideways action between 110 and downwards to 80
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  and we'll see some chop. The second scenario, and that
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  will come either in the short term or in the medium term is
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  once we have the Bitcoin Act, which is currently under
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  consideration past where the US government will be buying
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  Bitcoin into its reserves as well as other countries and
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  other corporates for their treasury assets as well.
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  We could see a 500K Bitcoin or $1,000,000 Bitcoin.
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  Sky is really the limit here. And why?
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  What would drive it there? So Bitcoin is inherently a
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  scarce asset. You only have 21 million
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  bitcoins and the Bitcoin Act for example proposes buying 200,000
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  bitcoins a year, which would significantly drive up the price
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  as there's a finance supply. And what about use cases?
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  I was talking about this with a guest on a previous show on
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  Trading 360. Just in terms of, you know,
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  President Trump, President-elect Trump has talked about, you
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  know, the one rule of Bitcoin is you don't sell your Bitcoin, but
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  do you expect more people to actually start using it in terms
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  of an actual currency? For sure.
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  So I don't think that Bitcoin is inherently the type of currency
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  that you buy a cup of coffee with.
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  There are places where people do that.
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  So for example, El Salvador, which I've written about
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  extensively, they use the Lightning Network for those
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  types of smaller transactions, but you don't necessarily need
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  it for that. That's not the prime use case.
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  The prime use case of Bitcoin is a worth value.
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  So when we think about money, there's usually 3
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  characteristics that people ascribe to money, the economists
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  ascribe to money, and that is method of exchange, unit of
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  account, and store value. So there's thousands of methods
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  of exchange around the world. Every currency around the world
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  is a method of exchange, unit of account.
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  However, there's only a handful. There's the dollar, there's the
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  euro, there's the yen, and now there's Bitcoin.
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  But when you talk about store value, none of those things are
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  considered stores of value because of their inflationary
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  property. So if you're a high net worth
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  individual living in the US, you're not storing your value in
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  a case of cash. You're storing your value in
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  buildings and businesses and sports teams and gold and now in
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  Bitcoin. So Bitcoin is that similar type
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  of property. It's just digital, which makes
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  it that much easier to move, to sell, to trade, to transfer it
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  across borders. So it's basically digital.
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  It's property but improved. And and how much of A portfolio
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  do you think should be allocated to cryptocurrency at this point?
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  And has that changed now that we have a very pro crypto president
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  coming into office? Absolutely.
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  I think if you don't have at least 10% of your investment
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  account in Bitcoin or Bitcoin related assets, you're going to
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  fall. Let's go.
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  As someone just said in the chat, how can we handle all of
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  this? Bullish news, guys, it's getting
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  incredible. It's going to be an incredible
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  2025. But of course, I'm not here
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  alone. I'm here with fellow content
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  creator Luke Mikich. Love to have you on, bro.
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  So if you guys know Luke, you know that today is going to be
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  maybe overly bullish, but it's Friday, so we'll send the
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  weekend off good. Anyways, there's a few things
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  that I want to hit on Luke before I pass you the mic.
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  First one is I think a lot of us even in Bitcoin and actually
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  I've been hearing a lot of like, you know, skeptics on Bitcoin.
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  We, we got some pretty big people talking bad about the
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  Bitcoin strategic stockpile in the US, But I think a lot of us,
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  even Bitcoiners are underestimating the impact that
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  the US would have on stockpiling Bitcoin.
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  Remember, if that this Bitcoin act does get pushed through,
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  they do kind of do and push forward the Bitcoin Strategic
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  Reserve Act, they're going to be buying 200,000 Bitcoin a year
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  for at least the next four years.
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  And obviously, if it does well, that could continue on into the
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  future. And we've been seeing and a lot
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  of speculation around the world that, you know, ever since the
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  US kind of announced this, every other nation in the world is at
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  least at the very least thinking about following suit.
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  Now again, the next thing that I thought was very interesting was
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  her kind of saying that Bitcoin is not a currency, it's just a
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  store of value. Obviously she's talking about
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  the three properties of money, unit of account, mean of
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  exchange, store of value. Now, I think she might be right
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  in, in the short term, this is kind of what Bitcoin's been
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  doing the last couple of years, the last 15 years, kind of
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  bootstrapping itself as just a store of value.
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  So I don't necessarily think that that is a bad narrative to
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  be talking about. But as us Bitcoiners kind of
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  believe moving forward, we all know, at least us, like really
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  hardened Bitcoiners believe that Bitcoin is the superior money in
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  the world. And it does have all of these
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  three various properties of money and it's just kind of
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  bootstrapping itself in the moment.
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  And that's why it's kind of been acting like a store of value.
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  And there's even skeptics that talk about it not even being a
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  store of value, which I kind of find hilarious considering it's
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  the best performing asset, the best the last 15 years.
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  It's the best thing to be holding.
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  Now. The next thing I think it's very
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  interesting is not only that, you know, she's being superbly
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  bullish, literally giving 500K to $1,000,000 prediction for
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  2025, but a, a insignificant increase in her, you know,
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  recommendation of 10% allocation.
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  Remember the beginning of the year, everyone was kind of
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  saying, oh, you know, Larry Fink came out here create an ETF like
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  what is the, the perfect allocation that I should have
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  the Bitcoin. And everyone was kind of saying
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  like 1%, maybe 5%. Well, slowly inching up to 10%.
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  And I think when this news first came out, me being stupidly
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  bullish, I'm like, you need to go all in.
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  It needs to be your whole portfolio.
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  Well, now you're seeing that it's slowly inching forward.
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  And remember there was the report from BlackRock and I
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  think their allocation preference was somewhere around
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  20 percent, 25% if I remember correctly.
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  So we're getting, we're getting very bullish out here.
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  And the last thing that I want to mention, guys, it's just that
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  it's no longer just Bitcoiners talking stupidly bullish about
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  Bitcoin. You're starting to see it
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  hitting, you know, Tradfi networks here.
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  And remember, what those networks are designed to do is
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  to inform investors their client base out there.
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  And so the signal is spreading, which is something I've been
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  saying to you guys all year, that now it's not just
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  Bitcoiners being bullish out there, and it's not just
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  Bitcoiners talking to Bitcoiners, but it's Tradfi
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  talking to, you know, Main Street.
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  It's Tradfi talking to, for lack of better terms, the normies out
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  there trying to educate them. But the point remains the same.
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  I think a lot of people are going to be blindsided by how
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  big of an impact Bitcoin is going to have in 2025.
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  With that being said, I think a lot of people are going to be
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  blindsided with how high Bitcoin can run.
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  I'm starting to get really bullish by the end of this year.
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  2025 is starting to feel crazy. I know a lot of bitcoiners have
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  been just saying oh it's going to go to 150 maybe 200 K.
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  I'm starting to feel like maybe these 500 KA $1,000,000
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  predictions of Bitcoin aren't that ridiculous and it might be
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  happening a lot quicker than we've ever thought.
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  With that being said, you know, stay humble, stack sad, don't
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  over leverage yourself because if we learned anything from the
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  last bull market, or rather bear market, it could take a lot
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  longer than and we ever thought it could to break 100K, break
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  these milestone marks. So just make sure you're
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  stacking stats, make sure the cash flows coming in, make sure
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  you're saving in Bitcoin living below your means.
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  And this is the, you know, the predictable path to succeed in
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  Bitcoin. Anyways, Luke, think I've ranted
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  enough. What's your thoughts on hearing,
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  you know this lady on Charles Schwab Network talking about 500
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  to $1,000,000 predictions? I mean, she's basically taking
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  your job bro. She's taking all of our jobs,
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  bro. We have a nine or $7 trillion
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  asset manager right now talking about the fact that, yeah, not
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  only is Bitcoin going to go to 500,000 or $1,000,000 per coin,
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  but if you don't have a 10% allocation, you are going to get
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  left behind. I mean, how crazy is it that
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  we've come this far? Only two years ago the world was
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  attacking Bitcoin. Two years ago, Bitcoin was a
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  Ponzi scheme. Two years ago, FTX was blowing
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  up, China was banning Bitcoin mining because Bitcoin mining
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  was boiling the oceans and Bitcoin wasn't this green asset.
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  Two years ago, the World Economic Forum and BlackRock
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  were openly attacking Bitcoin, saying it's not ESG friendly.
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  Everybody was talking about, you know, proof of stake and
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  stakeholder capitalism. Everybody was saying proof of
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  work is bad, Bitcoin is bad. And now two years later, every
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  single asset manager worth his salt is now openly bull posting
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  about Bitcoin. Like, not only is it Charles
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  Schwab, a $7 trillion asset manager, the third largest asset
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  manager in the entire world, but we have Larry Fink going on CNBC
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  bull posting about Bitcoin. Michael Saylor got given the mic
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  for like what, 6 minutes yesterday on CNBC and he was
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  just waltzing around like they gave him the, they gave him a
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  whole big, grand, big TV for him to show all of his slides and
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  all of his charts on and they let Michael just control the D
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  floor. So to say.
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  That's what we say in Australia. Michael just got up there and
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  just started absolutely spitting fire.
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  So I think it's incredible how far we've come in only two
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  years. Opti, are you kind of sensing
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  that maybe just maybe things are a little bit different this
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  cycle? Because I've got the tingles.
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  I really do like last cycle, I was very loud and open about the
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  fact that I think there's a 30% probability we could kind of
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  break these cycles of diminishing returns and all of
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  this stuff. And I was big on the whole super
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  cycle train. I said, look, I think there's a
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  30% that we're not going to stop at 100 or 200.
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  We're actually going to go much higher.
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  Now, again, everything's nothing's a certainty.
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  Everything's a probability. That's why I like to assign
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  probabilities to everything. But I've been pretty loud here
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  for at least 6 to 12 months here saying, look, I think this
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  cycle, instead of a 30% chance, we see some pretty crazy
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  numbers. I'm more in the 5060% chance.
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  It's down my base case that I expect to see a 500,600
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  thousand, even $700,000 Bitcoin in the next 12 months.
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  How about you Opti? Are you, how are you feeling
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  about everything happening this cycle?
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  Well, I mean, I hate being the Bitcoiner because I, I, I, you
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  know, I hate being that the cliche Bitcoiner this time is
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  different. But I think fundamentally we've
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  seen throughout this year that this next cycle will be
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  different. Like it is different.
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  Do we know that the cycles are going to be different?
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  Do we know that the, you know, cycle theory is is going to
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  break this cycle? I think we might be jumping the
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  gun a little bit on that. You know, I'm a little hesitant
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  to say it's super cycle. This cycle.
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  Maybe, you know, maybe that's four years, you know, six years
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  from now. But this time is fundamentally
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  different. Remember, in the past, we've
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  always talked about the fact that institutional capital is
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  here. Well, now we know for a fact
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  they are here. And next is the nation state
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  FOMO is playing out. And that is the crazy aspect of
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  this game theory. And a lot of the skeptics out
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  there talking about, you know, oh, you know, the wait, it was
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  Peter Schiff himself. Like the, it's what would he
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  say? He did a tweet yesterday
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  something on like the lines of like, it's super ironic that the
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  only way Bitcoin made it past 100K was because of, you know,
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  state backing and President Trump coming out here talking
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  and being pro Bitcoin when in reality a lot of his Bitcoiners
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  are like, this was this was inevitable.
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  It's going to happen anyways. But yes, you know, having up
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  some favorable tailwinds does help us out.
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  Like we get super bullish when when really big name start
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  talking about Bitcoin because it spreads the Bitcoin signal
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  outside of our echo chamber. So I don't have prediction odds
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  here for you, Luke. I don't know what the
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  predictions are, but you know, my gut is telling me that 250.
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  It just I, I, you know, like I'm feeling that the pent up demand
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  from 20/21, I think we're going to see an incredible blow off
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  top next year. And that's the only metrics I
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  really can give you guys is just like a gut instinct here.
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  But Luke, you said something interesting and I always like to
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  talk about this because Nico's very big on diminishing returns.
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  I'm kind of thinking on the opposite side that, hey, maybe
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  the diminishing returns isn't going to play out like it played
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  out in the past. Obviously we only have about 3
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  data points for this. So, you know, dive in a little
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  more on the diminishing return. What's your thoughts on
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  diminishing returns? Do you think we're going to kind
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  of play out the same cycle, you know, theory that we've had in
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  the past? Is it a lot of big numbers that
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  as Bitcoin gets bigger, the price can't rise as much?
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  Like what's your thinking on the the terms of diminishing?
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  So I've got a lot of thinking on diminishing returns, but I think
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  before we get to that, we actually have some breaking news
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  happening right now of the we have pumped by more than $1000
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  since we've been on this live stream and the chat is
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  absolutely blowing up about it. Not only is the chat blowing up
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  about my crazy hair, the chat is blowing up about $100,000
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  Bitcoin. It's incredibly, it's incredible
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  to see a lot of the regulars in the chat, but we are at $100,000
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  Bitcoin so. OK, OK, Well, it's kind of
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  funny. I was having a conversation with
• 13:51
  Big Sean last night and I, I, you know, I, I tweeted about it
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  as well, what I saw with the 100K, you know, touching a
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  Bitcoin and then going back to 90K.
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  It really reminded me, and I think I might have said this on
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  the show as well. It really reminded me of 2017
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  when Bitcoin finally hit 10K and then it went down to 9 K
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  literally the day after. And, and so, you know, just
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  doing some quick maths here, if kind of the same, I don't know,
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  framework like playbook is playing out in 2017.
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  Bitcoin would run, you know, a day, you know, no, sorry, 1K
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  like a day. And that was its fluctuations.
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  And now we're kind of seeing something similar, but on like a
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  10K level a day. And it kind of reminds me of
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  what American Huddle's been saying in the past, that it took
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  forever to Bitcoin for Bitcoin to break $100.
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  And then it took forever for Bitcoin to break $1000.
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  And of course, 10K and 100K. And as we go farther down the
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  movement and the price increase of Bitcoin, it starts to
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  fluctuate between, you know, 100 thousand $10,000 a day.
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  And we forget and we don't even notice it because it's just so
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  normal for us. So like $1000 a day
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  fluctuations. Like what is this return for
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  ants? Like is, is that really what
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  we're here for? But with that being said, it's
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  like, are we going to be seeing, you know, 1000 dollar $10,000 a
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  day increases? And if that is the case, like
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  how high can this run? Like literally how high can we
• 15:24
  run on this Luke? I don't know, but if you can
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  share your screen, I want to show the people the big green
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  dildo for the Bitcoin candle that's actually started while
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  we've been on a live stream. This is the 30 minute chart
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  Bitcoins pumped by. We're about to touch $101,000
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  per coin, which is crazy. I reckon there's some
• 15:43
  psychopaths in the chat right now.
• 15:46
  Smash buying Bitcoin. Absolutely smash buying Bitcoin.
• 15:50
  But I want to go back to that question you asked me earlier,
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  diminishing returns, because I again, I really don't think it's
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  likely that this whole idea of diminishing returns, it plays
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  out forever. So a lot of people are saying
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  each cycle we're going to see smaller returns.
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  And that argument, at face value, it sounds logical, right?
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  They say. But as Bitcoin becomes a bigger
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  market cap each four year cycle, we need an exponentially larger
• 16:18
  amount of capital to see a 50X or A20X.
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  And that's true, right? In that 2013 cycle, we saw like
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  100 X for Bitcoin, OK. And then in the 2017 cycle, we
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  saw something smaller. It was more like a 20X.
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  And then in the, what, 2021 cycle we saw something smaller.
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  It was more like A4 or 5X. So everybody's saying we've gone
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  from 100X to 20X to 5X. That means next cycle we're
• 16:46
  going to see something smaller than a 5X.
• 16:48
  We're going to see like a 3X maybe.
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  Bitcoin tops out at $150,000 per coin and again, I just think
• 16:55
  it's really dangerous to extrapolate out the 1st 15 years
• 17:00
  of Bitcoin data into the future and say this is our model for
• 17:04
  the future because this is previously what the data showed
• 17:08
  us, OK? I think Bitcoin's fundamentally
• 17:10
  in a different era right now and I think when you really look at
• 17:13
  the total addressable market cap for Bitcoin and you actually
• 17:17
  think about OK, what could Bitcoin be worth?
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  What should Bitcoin be worth? If the world wakes up to what
• 17:24
  Bitcoin is, then when you start looking at that target in the
• 17:27
  future, you start to realize diminishing returns makes zero
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  sense. I don't think it makes any
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  sense. OK, Bitcoin's a Bitcoin's got
• 17:35
  the biggest total addressable market cap in the world, right?
• 17:38
  So it's $900 trillion. Now, again, if you understand
• 17:43
  Bitcoin, you know that Bitcoin is the superior store of value
• 17:46
  asset. I mean, there's $300 trillion in
• 17:48
  real estate, hundreds of trillions of dollars in the debt
• 17:51
  market, over $100 trillion of Fiat currency that's literally
• 17:54
  melting away at 15% per year on average for the globe.
• 17:57
  Again, why would you hold a Fiat currency losing 15% per year
• 18:02
  when bitcoin's appreciating by 100% per year?
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  That's a compounded annual growth rate.
• 18:06
  OK, again, this is just maths, but Bitcoin has a $900 trillion
• 18:09
  Tam. Even if you're ridiculously
• 18:12
  bearish, even if you wrongly believe the narrative, the
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  Bitcoin is just digital gold. And it can, you know, it can,
• 18:19
  let's say it can capture fifty $100 trillion market cap.
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  So $100 trillion. It sounds like a lot, but it's
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  only like what, 10% of the globe store value assets?
• 18:29
  OK, well $100 trillion Bitcoin is like it's it's it's a very
• 18:33
  pricey Bitcoin. It's a $5,000,000 per coin
• 18:36
  Bitcoin. Now, if you say Bitcoin has a
• 18:39
  very conservative $5,000,000 Cam, and we're not even talking
• 18:44
  about multiplier effects right now, when you're actually taking
• 18:48
  to, you know, the equation that if you want or if the world
• 18:52
  wants to put $100 trillion into Bitcoin, you actually have to
• 18:56
  factor in the multiplier effect. So if you've got $100 trillion
• 18:59
  of hypothetical demand for Bitcoin, you actually need to
• 19:02
  use what is right now a 6X multiplier effect.
• 19:06
  So that means you've actually potentially got $600 trillion of
• 19:10
  hypothetical Tam coming onto Bitcoins market cap.
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  But maybe let's stay a little bit conservative today.
• 19:16
  But when you start talking about Bitcoin should easily have a
• 19:19
  $5,000,000 Tam, for me, it doesn't make sense that we're
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  going to see these cycles of diminishing returns where
• 19:26
  Bitcoin goes to 100 and 5225 three hundred 410.
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  You know what I mean? Like when you actually math this
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  stuff out for diminishing returns to happen, that means
• 19:36
  Bitcoin might take like 100 or 200 or 300 years to get to like
• 19:41
  $5,000,000 a coin. And I just don't think that's
• 19:44
  how technologies get adopted. Technologies get adopted in
• 19:47
  exponential waves. If you actually look at the
• 19:51
  adoption of three technologies that I we like to look at the
• 19:55
  Internet, the automobile and the smartphone, I think they
• 19:59
  actually give us a pretty interesting model for what I
• 20:02
  expect Bitcoin to be adopted, OK.
• 20:06
  And that is in an exponential wave.
• 20:08
  So if you take the average of those three technologies, it
• 20:12
  took them around 12 years to go from zero to 10% adoption.
• 20:18
  But then it took all three of those technologies the same
• 20:21
  amount of time to go from 10% adoption to 90% adoption another
• 20:26
  12 years. And I think it's pretty
• 20:28
  interesting that right now Bitcoin is what it's 14 years
• 20:32
  old again, what happens in the next 14 years, I don't know.
• 20:36
  But I've been calling 2020 the inflection point, the monetary
• 20:41
  inflection point. I've been calling it error #2 of
• 20:45
  Bitcoin. I believe 2020 is kind of when
• 20:47
  things changed. And I believe that we're kind of
• 20:50
  in that second era for Bitcoin where things are beginning to
• 20:53
  change exponentially. And we're seeing it all in the
• 20:56
  fundamentals. Like we're seeing this is the
• 20:58
  first cycle ever where coins have been leaving the exchanges
• 21:01
  consistently for four years. This is the first cycle ever
• 21:05
  where in the bear market, the price of Bitcoin crashed from
• 21:08
  69K to 15K. But the hash rate has gone up 7X
• 21:13
  since the bottom of that 2022 bear market.
• 21:16
  OK, since China banned Bitcoin mining, the hash rate might
• 21:19
  actually be up 10X by now. OK, So why?
• 21:22
  Why is the hash rate diverging from the price?
• 21:25
  Because this time is different. The nation states are mining
• 21:28
  Bitcoin again. We've been speculating about
• 21:30
  this for a long time. Opti you on simply Bitcoin for
• 21:34
  years and I've been speculating about it for years as well.
• 21:37
  Like nation states have been mining Bitcoin and now publicly
• 21:41
  we can see it, the Kingdom of Bhutan saying, yeah, you know
• 21:44
  what, 30% of our GDP is now plowed into Bitcoin.
• 21:48
  We've been openly mining it since 2019.
• 21:50
  We have Oman investing a billion dollars in a Bitcoin mining, El
• 21:53
  Salvador investing a billion dollars in a Bitcoin mining,
• 21:55
  Saudi Arabia, the UAE. We have all these countries all
• 21:58
  around the world publicly investing into Bitcoin mining.
• 22:02
  So again, privately you have to be stupid if you're a nation
• 22:05
  state and you're not mining Bitcoin right now.
• 22:08
  So I think like, I think I, I mean, I could talk about this
• 22:11
  shit for hours, Opti, but I, I feel like data is on our side.
• 22:15
  I, I do think the fundamentals are shifting and I, I think
• 22:18
  things are getting incredibly bullish and I, I think the
• 22:22
  possibility for us to have a really big cycle.
• 22:26
  I think it's been underrated in the space.
• 22:29
  Again, I don't know what's going to happen for certain, but I do
• 22:32
  think too many people have too much faith in these models and
• 22:36
  they're listening to spaghetti boy who's saying sell your
• 22:39
  Bitcoin at $150,000 a coin because of because of this model
• 22:44
  based on this old data that has to be consistently refit and
• 22:49
  changed all the time to give you such a high R-squared score.
• 22:52
  So anyway, the shrimps on the Barbie as the live chat is
• 22:56
  saying. What do you think?
• 22:59
  What's Bitcoin cooking on the Barbie for 20/20?
• 23:03
  A very, very bullish bullish bear, you know, fried bear for
• 23:07
  everyone out there. But before, before I move on and
• 23:10
  we got a whole show for you got jam packed a lot of bullish
• 23:12
  news. It's very nice having a fellow
• 23:15
  bull tart on the show. You know, Niko's been a bear on
• 23:17
  the show for way too long. He's he's too conservative.
• 23:20
  You know, he becomes a dad and he's all conservative now and
• 23:24
  then, you know, he's not bullish anymore.
• 23:26
  So guys, on Monday when Niko's back, we got to roast him for
• 23:29
  being a bear. Anyways, anyways, let's pay the
• 23:32
  bills here, guys. You already know the deal go to
• 23:35
  bitcoinwell.com. They are on the mission to
• 23:38
  enabling independence. It's the only Bitcoin self
• 23:42
  custody by default platform. And as you guys know, and
• 23:45
  hopefully you guys been falling on Twitter.
• 23:47
  They also just unlocked the micro strategy strategy and are
• 23:51
  doing convertible notes. So love to see it.
• 23:54
  Love the boys over at Bitcoin. Well, and of course, if you are
• 23:58
  a guy with some deep pockets out there and you're tired of nickel
• 24:01
  and diming, make sure you get in touch with the Bitcoin Well
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• 24:07
  Bitcoin OTC desk. Of course, they have a 50K
• 24:10
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• 24:11
  chunks of Bitcoin at one time over 50K, get in touch with the
• 24:15
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• 24:19
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• 24:31
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• 24:34
  Now the free alpha out there guys, Hey, I'm blowing it for
• 24:37
  the Rumble guys. But if you're on Rumble, you
• 24:39
  already know you're probably the one winning these sets.
• 24:41
  So 500 sets, first come first serve.
• 24:44
  Let's go. Let's get into the show because
• 24:46
  we got a jam packed show for you guys.
• 24:57
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  not allowing you to huddle your Bitcoin for the long haul.
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  I mean, here is the plate that they crushed, they put in water,
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  they put a blowtorch to it and as you can see the words have
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• 26:21
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• 26:23
  here, you know the Grandpa Paul bit, but make sure you are
• 26:27
  backing up your seed phrase, guys.
• 26:28
  Yes, Bitcoin's at 100K, but you should be securing your seed
• 26:32
  phrase, you know, like it's worth 10 times what it's worth
• 26:35
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• 26:38
  now before you hit the bull run starts getting crazy, go to
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  I've heard a couple horror stories from some friends that
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  sloppily wrote their seed phrase and they're having trouble
• 26:50
  getting back into their cold storage.
• 26:52
  So make sure you are securing your backup because you never
• 26:55
  know how high the Bitcoin price can go and you want to ensure
• 26:59
  you are holding this for the long term.
• 27:00
  All right guys, let's get into the numbers.
• 27:02
  So I don't have Satoshi's chicken, but is this all time?
• 27:06
  No, it's not all time high. OK, well I'll still hit the
• 27:08
  horns anyways. The Bitcoin price is currently
• 27:11
  $100,840 per Bitcoin, which means the SAT per dollar, AKA
• 27:17
  how much Bitcoin you can buy for a single dollar, AKA what the
• 27:20
  dollar is worth in Bitcoin. It's currently at 992 sats.
• 27:25
  Actually I've been kind of trolling lately.
• 27:26
  I really like kind of renaming sats to Bitcoin to just kind of
• 27:29
  get that unit buys FOMO from the normie.
• 27:31
  So it's worth, you know, one Bitcoin.
• 27:36
  Hold on. One dollar can buy you 992
• 27:39
  Bitcoin. It's so bad but I love it.
• 27:41
  It's so atrocious, it's gross, but hey, let's think about the
• 27:44
  normies out here. No one wants to buy a bit of a
• 27:46
  Bitcoin. They want either a whole coin or
• 27:48
  any Bitcoin. So hey, I'm, I'm still work
• 27:51
  shopping it guys. I'm still work shopping it.
• 27:52
  Anyways, the current block height is 873,535 and we have
• 27:58
  reclaimed the $2 trillion market cap for Bitcoin and the Bitcoin
• 28:03
  versus gold market cap is at 10.92%.
• 28:06
  Guys, we still have you know 9X in us to be the gold market cap
• 28:11
  and you guys are bearish out there.
• 28:13
  Couldn't be me, can't relate. Anyways, the total percentage of
• 28:15
  Bitcoin that will ever be issued, I repeat, the total
• 28:18
  percentage of Bitcoin that will ever be issued is currently at
• 28:20
  94.24%. You might want to buy some and
• 28:23
  the current money supply current circulation of Bitcoin somewhere
• 28:26
  around 19.7 million Bitcoin currently circulating.
• 28:31
  All right, guys, I hate to do this to you, but but it has to
• 28:35
  be done. It's the numbers.
• 28:37
  And we're going to be talking about the ETFs for a little bit,
• 28:39
  so bear with me. But there has been a historic
• 28:42
  milestone for the ETFs. I talked about this a couple
• 28:45
  months ago about how much Bitcoin the ETFs are scooping
• 28:49
  up. So shouts out to Eric Balkunis,
• 28:51
  of course, senior ETF analyst at Bloomberg.
• 28:54
  And he is, you know, absolutely shocked right now.
• 28:59
  So what's the news? the US spot ETFs have just
• 29:03
  passed Satoshi's holding of total Bitcoin held and now
• 29:07
  they're holding more than 1.1 million Bitcoin have been
• 29:11
  swallowed up by the Bitcoin ETFs more than anyone in the world.
• 29:16
  You know, no longer I think can we have the Satoshi fund and and
• 29:21
  I'll break it down for you guys in a little bit.
• 29:23
  And it's not even a year old guys like it's literally a baby.
• 29:26
  This is Eric Bokunis words. It's just mind blowing how much
• 29:30
  Bitcoin is being scooped up by the ETFs, which is kind of what
• 29:33
  me and Luke were saying in the beginning.
• 29:35
  Like institutional demand is here, they want your Bitcoin.
• 29:38
  Remember, we've been saying all year long like don't sell your
• 29:40
  Bitcoin, you're selling it to Michael Saylor.
• 29:42
  We kind of updated it to don't sell your Bitcoin, you're
• 29:45
  selling it to Larry Fink. Now it's becoming very clear,
• 29:48
  don't sell your Bitcoin. You are selling it to Wall
• 29:51
  Street. They want your Bitcoin.
• 29:53
  So you need to huddle on to that coin.
• 29:56
  So let's look at some of the Bitcoin held, the Bitcoin
• 29:58
  holders here, biggest holders in the world.
• 30:00
  Of course. Of course, the combined US spot
• 30:03
  ETFs hold 1,104,534 and they're scooping up incredible amounts
• 30:09
  of Bitcoin a day. Obviously Satoshi holds 1.1
• 30:12
  million. And then we got a couple
• 30:14
  exchanges, you know, Binance 633,000, MicroStrategy with
• 30:18
  400,000 Bitcoin, the US government with roughly around
• 30:21
  200,000, Chinese government with a little less 194,000 and then
• 30:26
  of course, other exchanges and companies with a couple 100,000
• 30:29
  under control. Now looking into this guys like
• 30:33
  you, I already told you the total spot Bitcoin ETFs have
• 30:37
  swallowed more Bitcoin than Satoshi himself.
• 30:40
  And you can kind of break it down.
• 30:41
  Well, who's the biggest holder? It is BlackRock with 521,000
• 30:45
  Bitcoin under their spot Bitcoin ETF, followed by of course,
• 30:50
  Grayscale and Fidelity. So you can tell there has been a
• 30:53
  clear winner here of what is the best performing ETF in the
• 30:57
  market, which is of course BlackRock.
• 31:00
  Like who is really surprised here.
• 31:01
  And I'm, I'm not surprised here. We all know BlackRock basically
• 31:04
  owns like, I don't know, every company in the world, every
• 31:08
  valuable company in the world, but there is some interesting
• 31:11
  maths here and it's getting kind of crazy.
• 31:14
  So shouts out to Thomas Farr of Hey apollo.com.
• 31:17
  And this math is just crazy. This stuff is just mind blowing.
• 31:21
  So he tweeted and he goes, when BlackRock holds 1,000,000
• 31:25
  Bitcoin obviously in their ETF and they push the price to $1
• 31:28
  million per coin, Black Rock will make $2.5 billion in fees
• 31:34
  every year forever. Absolutely mind blowing.
• 31:38
  Am IA fan of this? Not at all.
• 31:40
  But this is the math guys. And This is why they are so
• 31:43
  bullish on Bitcoin. This is why they're gobbling up
• 31:45
  so much Bitcoin is because they see the writing on the wall and
• 31:49
  you know, really relating this to the original clip of the
• 31:51
  show. If you're not buying Bitcoin,
• 31:53
  you're literally just not going to be able to compete in the
• 31:56
  world that we're headed to. What's the Carlos Mato tweet?
• 31:59
  Matos tweet? You know, we no longer live in a
• 32:02
  world we once did. Guys, it is a new paradigm.
• 32:05
  And if you don't have Bitcoin, you are being left in the dust
• 32:09
  again. You know, we're saying it's
• 32:11
  moved from 1:00 to 5:00 to 10% allocation.
• 32:14
  I would argue if you're of my age, a millennial or younger,
• 32:18
  you should be at least 50% plus live in your mom's basement.
• 32:22
  Stack as much Bitcoin as possible.
• 32:24
  Obviously, I'm, I'm kind of trolling a little bit.
• 32:27
  I'm it's, you know, it's jokes, but but realistically you should
• 32:31
  try to buy as much Bitcoin as humanly possible and still be
• 32:34
  able to pay your rent, you know, buy groceries, etcetera,
• 32:37
  etcetera, have a little good time and, you know, enjoy life a
• 32:40
  little bit, but you need to be stacking Bitcoin.
• 32:42
  And I think that signal is finally spreading to everyone
• 32:45
  out there that, hey, I need to add Bitcoin to My Portfolio or
• 32:50
  else I'm being left in the dust. I've been saying it all year.
• 32:54
  Basically, you know, Bitcoin is the fastest horse in the race,
• 32:57
  or actually I've been saying saying Bitcoin is the fastest
• 33:00
  race in the horse, saying it the wrong way, but you know what I'm
• 33:04
  saying? It's becoming very clear.
• 33:06
  There is a clear winner. There is winners and losers out
• 33:10
  there. And if you aren't saving in
• 33:12
  Bitcoin, if you don't have Bitcoin in your portfolio, then
• 33:15
  you're a loser. You need to add Bitcoin to your
• 33:19
  portfolio. And I think we're going to see
• 33:22
  some of the biggest wealthiest names and companies in the world
• 33:26
  get their Bitcoin allocation in 2025.
• 33:29
  And This is why, you know, Luke and I kind of keep saying that
• 33:32
  that this time feels different. So anyways, Luke, what's your
• 33:36
  thoughts on the ETF, you know, scooping up more than Satoshi.
• 33:40
  How does this make you feel? What?
• 33:41
  What's your thinking process behind this?
• 33:44
  Yeah, so I mean, from a big picture view, I'm always being
• 33:48
  very cautious and sceptical of the Bitcoin ETFs coming in.
• 33:52
  I the literally the day after BlackRock filed their Bitcoin
• 33:57
  spot ETF document way back in mid 2023.
• 34:01
  I did a thread that got a lot of attention the day after and I
• 34:05
  said, have a look at the wording buried on like page #21 of the
• 34:09
  filing where they said BlackRock openly said in the event of a
• 34:14
  hard fork, we have no obligation to actually choose to follow the
• 34:20
  most economic chain of Bitcoin. So obviously, like, I think
• 34:24
  there's a possibility in the future that we do see, you know,
• 34:28
  a attack on Bitcoin or maybe the ETF holding so much Bitcoin, it
• 34:33
  could be a bad thing. Maybe it's going to be
• 34:35
  nationalized by the government. Maybe it's going to be the new
• 34:38
  6102 honeypot. Maybe black rocks even going to
• 34:41
  try to fork the chain and create this Glee green and clean
• 34:46
  version of Bitcoin. That's, you know, maybe even
• 34:49
  proof of stake or you know, it doesn't do proof of work because
• 34:52
  that's dirty and you know, it's not ESG.
• 34:55
  Again, I'm not saying any of this is a certainty, but I'm
• 34:58
  saying that there's I think a higher probability than most
• 35:01
  people that, you know, maybe the ETFs could be a bad thing in the
• 35:05
  future. Again, just tinfoil heading
• 35:07
  right here. You can think I'm crazy, but I I
• 35:10
  think there's two things to be cautious of with the ETF.
• 35:15
  From day one, I've always been cautious.
• 35:17
  So not your keys, not your keys. Just because Black Rock is the
• 35:21
  largest asset manager in the world doesn't mean they will not
• 35:24
  rug pull your Bitcoin in the future.
• 35:27
  Again, there are no certainties in life.
• 35:29
  You don't know what's going to happen right?
• 35:32
  But I think from a number go up price standpoint, it's
• 35:35
  incredibly bullish. How could it not be incredibly
• 35:37
  bullish? The world's largest asset
• 35:39
  manager with $10 trillion of asset under management is saying
• 35:44
  Bitcoin is going to digitize gold.
• 35:46
  Bitcoin is an international asset.
• 35:49
  Bitcoin is an asset you buy when you are fearful, like Larry Fink
• 35:53
  is saying Bitcoin's a risk off asset.
• 35:55
  Larry Fink and BlackRock are even published in reports where
• 35:59
  they are openly saying the optimal allocation for the past
• 36:03
  decade. It wasn't the 6040 portfolio, it
• 36:07
  wasn't even buying high risk tech stocks.
• 36:10
  It was actually being 84.9% allocated to Bitcoin and only
• 36:15
  put 15% of your other assets into the trash, into bonds and
• 36:19
  stocks and cash. You don't want to hold that the
• 36:22
  optimal allocation was 85% Bitcoin, right?
• 36:26
  Those are the research reports BlackRock is publishing.
• 36:30
  So obviously this is bullish. Obviously this is great for
• 36:32
  number go up. Obviously this is huge social
• 36:36
  signaling. Obviously, this DE risks Bitcoin
• 36:39
  for the masses when you have the world's largest asset manager
• 36:42
  come in and embrace and welcome Bitcoin.
• 36:44
  And obviously we're going to begin to see this competitive
• 36:47
  FOMO play out because like you were saying earlier, Opti, it
• 36:51
  starts with a, you know, 1% allocation and those guys
• 36:56
  saying, yeah, Bitcoins, OK, it's a diversification asset.
• 37:01
  But as Michael Saylor continues to say, if you have the winning
• 37:05
  trade or if you have the better thing, you don't diversify.
• 37:09
  You go all in on the better thing, OK?
• 37:13
  This is something that nobody understands, and This is why I
• 37:16
  think Bitcoin's going to be a lot more valuable than most
• 37:19
  people think, much quicker than most people think.
• 37:22
  Because when you have the winning thing, you don't do a 1%
• 37:26
  allocation, you don't do a 2% allocation.
• 37:29
  You put all your money in the better thing, OK?
• 37:32
  It's like Michael Saylor says. Do you build a boat that's 10%
• 37:37
  wooden, 10% steel? Do you, you know, build an
• 37:41
  airplane that's 50% aluminum and 50% wood?
• 37:45
  No, you don't diversify by building something that's
• 37:48
  supposed to float or fly with wood because it is inferior.
• 37:53
  I think it's the same thing with portfolio allocations.
• 37:56
  Why have 10% of your money in a melting ice cube?
• 37:59
  Why have 50% of your money on a stock brokerage platform that
• 38:03
  could freeze your assets just because you're told that
• 38:07
  diversification is a good thing? You have to buy stocks because
• 38:09
  that's the way the world has worked for the past 50 years.
• 38:13
  But nobody thinks, why have we had to diversify for the past 50
• 38:16
  years? Why has real estate been grossly
• 38:19
  monetized for the past 50 years? Because there was no solution to
• 38:23
  us going off the gold standard. Now we have the solution and
• 38:27
  it's only a matter of time before all of these big brain
• 38:30
  Wall Street gurus come to the realization that, hang on a
• 38:33
  minute, diversification makes no sense.
• 38:36
  A 1%, five percent, 10% allocation to Bitcoin makes no
• 38:41
  sense. We need a 100% allocation
• 38:45
  because this is the solution. You don't diversify into the
• 38:48
  solution. You put all your eggs in the
• 38:51
  winning basket and Bitcoin is that winning basket.
• 38:54
  And as we showed you guys in the clip in the beginning of today's
• 38:57
  live stream, we have somebody from Charles Schwab, $7 trillion
• 39:01
  asset manager, openly sane. Yeah.
• 39:04
  If you don't have at least a 10% allocation, what did she say?
• 39:07
  Opti, you are losing. Yeah, you're not.
• 39:10
  Being competitive, you're losing and you are literally not being
• 39:15
  competitive here. But actually I do.
• 39:17
  I guess I need to get, I got fact checked in real time by
• 39:19
  Luke. I said 25% was the Black Rock
• 39:22
  report. Sorry, I wasn't bullish enough.
• 39:24
  It was 85%. So here we are on that.
• 39:27
  I'd love to hear, but there is one thing I do kind of want to
• 39:30
  talk about. We are kind of going to the long
• 39:31
  super bullish today, but you know, the classic floodline of,
• 39:35
  oh, what happens if Satoshi sells his million Bitcoin?
• 39:39
  Well, now it looks like we're kind of, you know, like that's
• 39:42
  kind of being put to bed here. It's like the US spot Bitcoin
• 39:47
  ETFs now hold more Bitcoin than Satoshi.
• 39:50
  And so I think, you know, a classic trope in Bitcoin is that
• 39:54
  all of the floodlines that constantly get recycled 1 by one
• 39:58
  usually drop like Domino's. And, you know, we just keep
• 40:01
  proving that, hey, none of this matters really.
• 40:03
  Like bitcoins being adopted in real time and people are seeing
• 40:07
  the use of Bitcoin, you know, permissionless, censorship
• 40:10
  resistant money, you know, hard cap.
• 40:12
  This is starting to become a very viable solution for
• 40:17
  everyone in the world, and now they're starting to wake up to
• 40:19
  it. So hey, if you're being bearish.
• 40:23
  I don't know what you're doing. I don't know what you're looking
• 40:24
  at, but it's time to flip the script and get bullish.
• 40:28
  Anyways. Luke, you want to chime in?
• 40:29
  I saw you kind of trying to chime in there for a second.
• 40:32
  No, no, I'm I, I talk too much, my friend.
• 40:36
  OK. All right.
• 40:38
  Well, on that note, guys, if you are enjoying the show, we're
• 40:40
  only halfway through, make sure you smash the like button, not
• 40:43
  slash smash the like button comment, let us know if you're
• 40:46
  bullish and of course subscribe if you think we're giving you
• 40:49
  guys value. But we're only halfway through
• 40:51
  guys. We still have some more bullish
• 40:53
  stuff for you on today's show. I want to give a very special
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  completely open source connected with the envoy and and it's it's
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  pretty much been the easiest hardware wallet I've used and I
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  love it man Okay, anyways, we got some updates for you guys,
• 43:13
  boys and girls. It seems like we might have a
• 43:17
  very bullish administration coming in in the US and I know
• 43:22
  you guys have yelled at us all year.
• 43:24
  Like I'm sick of the what someone say in the chat
• 43:26
  yesterday, like I'm I'm sick of the Republican propaganda on the
• 43:29
  show. Well, sorry, boys.
• 43:31
  Hey, they're they're coming out and being super bullish on
• 43:34
  Bitcoin or, you know, crypto. And this is a good thing for our
• 43:38
  industry. If we could get four years of
• 43:40
  cover, there's no way they're going to be able to put Bitcoin
• 43:43
  back in the box. It it's going to take over the
• 43:46
  world. And as an American, hey, I want
• 43:48
  that to happen. I want America to be the Bitcoin
• 43:51
  hub of the world. We already are, you know, the
• 43:54
  leader in Silicon Valley out there.
• 43:55
  And I think it's it's only fitting Bitcoin is as American
• 43:58
  as apple pie. Anyways, What am I talking
• 44:00
  about? If you aren't following the news
• 44:02
  as closely as all of us Bitcoiners, or rather us here at
• 44:04
  Simple Bitcoin yesterday, Donald J Trump, the 47th President of
• 44:09
  the United States president-elect, just announce
• 44:13
  that David Sachs will be his quote, White House AI and
• 44:17
  Cryptozar. So I'm gonna break down some
• 44:20
  I'll breakdown David Sachs for you guys in a minute, but let's
• 44:23
  read this truth post social. So in this important role of
• 44:27
  White House AI and Cryptozar, David will guide policy for the
• 44:30
  administration in AI and cryptocurrency, 2 areas critical
• 44:35
  to the future of American competitiveness.
• 44:37
  David will focus on making America the clear global leader
• 44:41
  in both areas. He will safeguard free speech
• 44:43
  online and steer us away from big tech bias and censorship.
• 44:47
  He will work on a legal framework so the crypto industry
• 44:50
  has the clarity it has been asking for and can thrive in the
• 44:54
  US. David will also lead the
• 44:57
  Presidential Council of Advisors for Science and Technology.
• 45:00
  First of all, it is a little surreal.
• 45:03
  It's kind of crazy just hearing, you know, incoming president
• 45:06
  even acknowledged the Bitcoin industry.
• 45:08
  Obviously the Bitcoin pact, the lobbying that the Bitcoin
• 45:12
  foreigners did to get him elected, remember, is $135
• 45:15
  million. So obviously we're a big part of
• 45:18
  the lobbying base here. And as Kaiser always says, he
• 45:21
  who has the bitcoins make the rule.
• 45:23
  Well, let's just look into who David Sachs is and what does he
• 45:28
  say about Bitcoin. And we got a great clip here
• 45:31
  from Anthony Pompolano with David Sachs, and let's just hear
• 45:34
  it from his own words. What are your views on Bitcoin
• 45:37
  and how do you think of that asset given kind of the macro
• 45:40
  backdrop? Well, the, the thing that's
• 45:42
  interesting about Bitcoin, I've been interested in Bitcoin since
• 45:45
  I think I first bought it in 2012 maybe.
• 45:50
  And we, we, we invested in a number of, we're not a crypto
• 45:53
  investor, but we did express a thesis back in 2017, 2018 that
• 45:59
  we thought that crypto would graduate from being into being
• 46:03
  an, a institutional asset class, from being really more of a
• 46:06
  consumer retail phenomenon. And so we ended up investing in
• 46:10
  institutional custody through a company called Bitco and we also
• 46:13
  invested in multi, we're the C investor multi point Capital,
• 46:16
  which was a crypto focused hedge fund.
• 46:19
  We basically believe that, you know that as crypto matured into
• 46:22
  an asset class, you would need specialized fund managers of
• 46:25
  which we were not really, I'm a SAS investor.
• 46:28
  So but I'm like, but let's invest in these guys because
• 46:30
  they're focused on the problem. So we expressed a number of
• 46:33
  these views and it generally has worked out very well for us
• 46:37
  about any event. So I've been interested in
• 46:38
  Bitcoin for a while and I think the transformational part of
• 46:42
  Bitcoin is this idea that we could have non Fiat money,
• 46:45
  right? We just as we're talking about
• 46:47
  with the Fed, there is a huge risk of currency debasement when
• 46:52
  the government is in control and particularly when you have the
• 46:54
  world's reserve currency. There's this such an enormous
• 46:57
  temptation to print money to finance your budget and to rack
• 47:02
  up loans that become unpayable. We're at what, like 130% of GDP
• 47:08
  now? We own, we owe, so we owe an
• 47:11
  amount of money greater than the size of our entire economy or
• 47:14
  our economic output. That sounds very hard to repay
• 47:17
  to me. So the temptation will
• 47:19
  eventually be to monetize the debt away, basically to debase
• 47:23
  the currency to pay for this debt.
• 47:25
  That's always been a risk throughout history.
• 47:27
  And now what Bitcoin offers is a different kind of currency where
• 47:34
  it's not backed by a government, it's backed by math, it's backed
• 47:37
  by encryption. And so you don't have to trust
• 47:40
  the government that there will only be 21 million Bitcoin.
• 47:44
  It's in the it's in the code. And so you just have to trust
• 47:49
  that that the that the Bitcoin effectually won't be cracked.
• 47:53
  You know, you just have to believe that the system is
• 47:56
  secure. And I think a lot of people
• 47:59
  might over time, gradually think that's a better form of money.
• 48:03
  Two other questions OK guys, I don't know about you, but I'm
• 48:08
  I'm kind of OK with this pick. Like I'm I don't really have too
• 48:12
  much bad stuff to say though we do kind of have to acknowledge,
• 48:16
  you know, he is kind of part of the PayPal mafia.
• 48:19
  That could be some concerns for people.
• 48:21
  He is on the All In podcast, you know, with Chamath and Jason who
• 48:25
  they are Bitcoiners, you know, you could argue maybe they're a
• 48:29
  little bit of shit coiners, but I think this is good signal that
• 48:33
  we're going to see at least some very favorable regulation and
• 48:37
  clarity in regards to Bitcoin. Of course, you know, David Sacks
• 48:40
  runs one of the oldest Bitcoin and crypto funds and looking
• 48:44
  into, you know, some of the portfolios of currently he's at
• 48:46
  Craft Ventures. You can see some of the
• 48:48
  companies that he's invested in. And obviously there's a lot of
• 48:52
  things that aren't Bitcoin on this list, but there is some
• 48:55
  very notable Bitcoin companies that they have, you know, gave
• 48:59
  seed capital to obviously Bitgo, you guys know Bitgo bitwise as
• 49:04
  well. He kind of mentioned that
• 49:06
  institutional management of Bitcoin and crypto as well, and
• 49:10
  he said multi coin capital as well.
• 49:12
  So and then a folds in here guys.
• 49:14
  So this guy knows what's going on in the Bitcoin space.
• 49:18
  I'm you know, he's been buying since 2013.
• 49:21
  I'm going to argue that I think this is going to be very bullish
• 49:25
  for the Bitcoin industry or even the shit coin industry at large.
• 49:28
  I think it's going to be a lot of good clarity.
• 49:30
  He's obviously obviously going to be giving Trump some some
• 49:33
  good insights on the market. Yes, we've been saying it for a
• 49:37
  while. We might be getting unleashed,
• 49:40
  you know, the shit coin tsunami on all of this regulation as
• 49:43
  well, which is something we'll we'll keep watching.
• 49:46
  But you add David Sachs as the new cryptos are, which is a new
• 49:50
  role. And you you could argue that
• 49:51
  it's like a, you know, fake role, but the we've seen these
• 49:54
  kind of roles happen for presidents in the past.
• 49:57
  But you add that with Paul Atkins as a new SEC head.
• 50:01
  And again, this is going to be super bullish for Bitcoin.
• 50:04
  And I don't know about you guys, but I'd, I'd much rather have
• 50:07
  some favorable tailwinds in regards to Bitcoin than the last
• 50:11
  four years that we've seen under the Biden administration with
• 50:13
  Operation Choke point 2.0 and them trying to stifle and stop
• 50:18
  the adoption of Bitcoin. So again, this is a very bullish
• 50:21
  show today, not only price predictions, but at least we're
• 50:24
  seeing in the US that, you know, speculatively and optimistically
• 50:29
  speaking, we should see very favorable laws and regulations
• 50:33
  around Bitcoin. Obviously, my point of view is I
• 50:36
  just want them to get out of the way, man, if they could get out
• 50:38
  of the way of, of Bitcoin and Bitcoin companies and hopefully
• 50:41
  bring back some of the Bitcoin companies and entrepreneurs that
• 50:44
  have left the last four years. This is going to be, you know, a
• 50:48
  new renaissance for Bitcoin in the US.
• 50:50
  And I'm I'm tentatively excited for what what's going to happen
• 50:53
  in 2025 with these roles around Bitcoin.
• 50:56
  You can argue there's a lot, a lot of other problems, but hey,
• 51:00
  at least in regards to Bitcoin, it looks like we are going to
• 51:04
  have a bullish and clear Rd. for 2025.
• 51:08
  Anyways. Luke, what's your thoughts on
• 51:09
  David Sacks becoming the new AI and Cryptozar for President
• 51:14
  Donald J Trump? My thoughts more broadly are
• 51:17
  pretty much summarized by Rex owner's 72 hour as comment in
• 51:22
  the chat. We are no longer just seeing
• 51:24
  tailwinds for Bitcoin. We are seeing tail hurricanes,
• 51:28
  baby. I'm shocked that all of the
• 51:30
  bullish things that are happening are happening.
• 51:33
  I'm shocked that we're getting somebody like David Sachs
• 51:37
  appointed by Donald Trump. Yes, he's not a Bitcoin maxi.
• 51:41
  Yes, I wish he was more bullish on that podcast, the All In
• 51:45
  podcast. Maybe he was like able to rein
• 51:47
  in some of his shit coining friends and some of the trash
• 51:50
  that they do say on that very popular podcast.
• 51:54
  But I, I think overall, he's certainly better than a lot of
• 51:57
  the other selections that were, let's just say, in previous
• 52:01
  governments in the USI don't even want to name names.
• 52:03
  I mean, you guys know the kind of people that we are electing
• 52:07
  as leaders in America. If you or the Western world in
• 52:11
  general, if you have a look at the health ministers all around
• 52:13
  the world, they certainly don't look healthy.
• 52:16
  And if you look at the let's, I'm going to be really careful
• 52:19
  what I say here, but let's just say some of the health
• 52:21
  officials, they were not healthy people and some of the things
• 52:24
  they were saying we're not healthy.
• 52:26
  So I think that we're beginning to see people elected into the
• 52:30
  Trump government that actually understand not only economic
• 52:34
  reality, but just reality as it stands in the world, in other
• 52:40
  industries. We have RFK being elected.
• 52:43
  And again, he is talking about certain things to do with
• 52:47
  health. But if you just look at the guy,
• 52:49
  I'm more likely to listen to something he says because you
• 52:53
  look at him at age 60, he's in better shape than me.
• 52:56
  The dude's absolutely jacked, OK?
• 52:59
  He clearly looks after his health.
• 53:01
  And now we have business leaders and people who have actually
• 53:04
  built companies and understand the fact that U.S. debt is
• 53:08
  unsustainable. They're now being elected and
• 53:11
  put into positions of power. We have as much as it's a little
• 53:15
  bit of a mean, but we have doged the Department of Government
• 53:19
  efficiency. Nobody has asked the government
• 53:21
  to be efficient. Nobody in power has even
• 53:24
  mentioned the fact that maybe the government should stop
• 53:27
  spending money and be more efficient for 100 years.
• 53:30
  OK, nobody's given a shit about it.
• 53:32
  So yes, he's not the best candidate for that position, but
• 53:36
  I think he's better than what we've had.
• 53:39
  What do you think of? Yeah, yeah.
• 53:42
  I mean, I'm a bit conflicted because I think everyone knows
• 53:46
  me and I don't trust politicians at all.
• 53:49
  Very clear, very obviously I think at this point.
• 53:52
  But again, just hearing them talking.
• 53:54
  Actually, someone said a great comment in here, something on
• 53:58
  the line. Let me see if I can find it real
• 53:59
  quick before I just give you guys some blank, blank air here
• 54:06
  all right shout out the keys. He goes all I heard was quote a
• 54:09
  better form of money and you can't unthink that stuff and I
• 54:13
  think that is kind of the signal here that we're seeing you know
• 54:17
  yes, he is AVC capitalist yes, he kind of has endorsed some
• 54:20
  shit coins out there, but I mean in that clip with pomp.
• 54:24
  I I think he sounds like a bitcoiner.
• 54:26
  I think anyone that understands Bitcoin and understands Fiat is
• 54:30
  understanding the same. Problem is they are printing way
• 54:32
  too much money. And what does that do for you
• 54:34
  guys out there? It is debasing your your
• 54:36
  holdings. It's making you poorer.
• 54:38
  And the more money they print, the poorer we all get.
• 54:42
  And yes, some government efficiency would be great.
• 54:45
  Who wouldn't like to see some efficiency coming out of the
• 54:47
  government? But as the classic trope goes,
• 54:51
  you know, the scariest couple of words you can hear is I'm from
• 54:53
  the government and I'm here to help you.
• 54:55
  I don't think anyone trusts the government to be efficient at
• 54:57
  all, But hopefully we do see some sort of efficiency coming
• 55:02
  out of this. Again, my my baseline here is
• 55:04
  just can you guys get out of the way of bitcoins potential and
• 55:09
  Bitcoin entrepreneurs. You know, the free market and
• 55:12
  entrepreneurs are the one that really Dr. innovation forward
• 55:15
  and what we've seen the last, you know, 15 years, but
• 55:18
  specifically the last four years, them standing in our way
• 55:22
  and literally hurting the population out there, not only
• 55:25
  in the US but globally. Because of course, I say it all
• 55:28
  the time, the US kind of exports two things.
• 55:30
  It's our debt, AKA our currency and our culture.
• 55:33
  So whatever the US does, everyone starts to follow suit.
• 55:37
  And we've seen this play out very clearly in regards to Trump
• 55:40
  announcing a strategic stockpile or reserve for Bitcoin.
• 55:44
  Now everyone has to take these conversations seriously.
• 55:46
  So the game theory is playing out.
• 55:49
  I'm pretty excited to see what happens in 2025.
• 55:52
  Obviously, we'll be here. You know, me, I, I, I only pull
• 55:56
  my punches to not get this banned on YouTube, but you know,
• 55:59
  I'm very skeptical. So we'll be covering this
• 56:01
  throughout the year and hopefully we do see some very
• 56:04
  favorable stuff come down the pipeline.
• 56:06
  And it just means, you know, number go up and bitcoin's going
• 56:10
  to be proliferated around the world.
• 56:12
  And that's what we're here for. We want the as many people as
• 56:16
  possible holding Bitcoin in self custody.
• 56:19
  So if we see anything that does the opposite, no, we will be
• 56:23
  vocal about it. So man, I'm I'm tentatively
• 56:26
  bullish. I'm tentatively optimistic about
• 56:28
  this and it's looking like in regards to Bitcoin, the Trump
• 56:33
  administration might be following through on its
• 56:35
  promises. So we'll see what happens.
• 56:37
  Day one. We'll see if you know, Ross is
• 56:39
  free Day one, we'll see how far they can push the strategic
• 56:43
  Bitcoin stockpile and we'll see the aftermath of that.
• 56:46
  But man, I'm I'm starting to get the tingle, Luke.
• 56:49
  I'm starting to get a tingle. But let's get into the culture
• 56:52
  because I told Luke, I'm just going to give you time to be
• 56:55
  stupidly bullish. Everyone knows Luke is a bull
• 56:58
  tard every single time. So if you thought the beginning
• 57:02
  was bullish, I think the rest of the show is going to be even
• 57:05
  more bullish. Let's go.
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  All right, boys and girls, of course, sorry we got to pay the
• 58:00
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• 58:03
  to bit block Boom on April 3rd through the 6th 2025 in Dallas.
• 58:09
  It's a small conference. You could literally hang out
• 58:11
  with all the cool bitcoiners. Usually this is where Lobbycon
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  was created at. You just just show up, man.
• 58:18
  Just show up, buy a ticket, hang out, hang out in the pool with
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• 58:35
  So Luke, thanks for coming on. He's off.
• 58:39
  He's off air for a moment. But man, Luke, we've had yeah,
• 58:44
  got to get the monster in. I don't know how we can top the
• 58:47
  bullishness on this, but I'm sure you will find a way.
• 58:51
  And you know, I, I actually, I actually learned this the other
• 58:53
  day when we had Brandon from Green Candle Investments on.
• 58:56
  So I think I want to start with this question, which is I, I
• 59:00
  asked Brandon the same one. It's what is the big idea that
• 59:03
  you think everyone is missing right now?
• 59:05
  And I think we've covered a lot on the show.
• 59:07
  So if you want to rehash some things, that's fine.
• 59:09
  But what in your opinion is the big idea that is going to take
• 59:13
  the world by storm And you can't just say Bitcoin We, you got to
• 59:16
  give them some alpha here. So what's the big idea you want
• 59:19
  to share with everyone today, Luke?
• 59:21
  The big idea is nobody is paying attention to the underlying
• 59:26
  fundamentals and nobody understands how technologies get
• 59:29
  adopted in exponential waves. And Bitcoin's going to be
• 59:33
  adopted exponentially, and it's going to shock people and the
• 59:36
  numbers we're going to see aren't going to make any sense.
• 59:38
  And I just really think the Bitcoin scarcity, it's going to
• 59:42
  lead to some pretty crazy things, OK?
• 59:44
  Like Bitcoin, like we said earlier, it has a $900 trillion
• 59:47
  Tam. I genuinely think it's going to
• 59:49
  be capturing half of the world's store value assets.
• 59:52
  And I think it's going to happen much quicker than most people
• 59:54
  think. And when you really start to run
• 59:56
  the numbers and you're talking about $500 trillion of
• 59:59
  hypothetical demand for Bitcoin with a 6X multiplier effect
• 1:00:03
  where it is today and that multiplier effects will become
• 1:00:07
  more. Become higher as Bitcoin is
• 1:00:11
  gobbled up and accumulated and hoarded by people like Michael
• 1:00:15
  Saylor who are going to hold it for 100 years.
• 1:00:17
  That multiplier effect is going to rise and shit's just going to
• 1:00:20
  get wild. Numbers aren't going to make
• 1:00:22
  sense. We're not talking about 5-10,
• 1:00:24
  twenty, $100 million per Bitcoin.
• 1:00:27
  We're talking about numbers much higher, OK.
• 1:00:29
  And again, all of the numbers that I like to talk about, I
• 1:00:32
  like to kind of say, look, this is today's purchasing power.
• 1:00:36
  When I say Bitcoin will easily be worth $100 million a coin
• 1:00:39
  much quicker than you think, I'm saying it's going to buy you 10
• 1:00:44
  Malibu beach houses on the coast front in California.
• 1:00:47
  OK, That's the purchasing power I expect one of those puppies in
• 1:00:52
  California goes for about 10 million.
• 1:00:53
  This is like prime real estate, some of the best real estate you
• 1:00:56
  can get in the world. And I won't be partying with a
• 1:00:59
  significant amount of my Bitcoin until I can, you know, buy ten
• 1:01:02
  of those with a Bitcoin. OK.
• 1:01:04
  That's I believe the end game for where Bitcoin is.
• 1:01:07
  And I think people just aren't paying attention.
• 1:01:09
  Not only I think firstly they don't understand money is a
• 1:01:12
  winner taker goal game. So just this idea of Bitcoin
• 1:01:17
  being just another asset and it just stopping at 50 or $100
• 1:01:20
  trillion per coin. Just stupid idea.
• 1:01:24
  CK snarks says it the best. It's actually the least likely
• 1:01:27
  outcome that Bitcoin is just digital gold and it's just that
• 1:01:31
  500 KA $1,000,000 it's $2,000,000 and it's just this
• 1:01:35
  thing that's a one percent 2% allocation.
• 1:01:38
  CK has been screaming about this for years and I have as well.
• 1:01:41
  Like it is the least likely outcome.
• 1:01:43
  Bitcoin either captures the large majority of that $900
• 1:01:48
  trillion of assets in the world, or it goes to 0 and it dies.
• 1:01:52
  Bitcoin's a binary bet, OK? And it being at 500K or a
• 1:01:56
  million or 2 million, all of a sudden that unlocks a completely
• 1:02:01
  new realm of capital that can now allocate to Bitcoin in size.
• 1:02:06
  OK, Two years ago, Microsoft couldn't even consider the
• 1:02:09
  possibility of putting some of their $100 billion of cash into
• 1:02:13
  Bitcoin when it was like a 200, three, $100 billion asset.
• 1:02:17
  They would have moved the market too much.
• 1:02:19
  But now the bitcoin's a $2 trillion asset and on the way to
• 1:02:22
  being a 5-10 trillion dollar asset in the next 12 months, we
• 1:02:26
  see these new pools of capital unlocked.
• 1:02:28
  So I think that's the big idea. Bitcoin is a binary bet and
• 1:02:32
  technologies get adopted in exponential waves.
• 1:02:35
  Now a related note is I believe everybody's measuring Bitcoin
• 1:02:41
  adoption wrong. So this most when most people
• 1:02:45
  say, OK, Luke, but you say we're in this like second error of
• 1:02:47
  Bitcoin. You say that things are starting
• 1:02:49
  to go exponential, but on an S curve, things don't start going
• 1:02:53
  exponential until you hit that 10% adoption rate.
• 1:02:56
  And people will correctly say adoption, the enormous world is
• 1:03:01
  like 1%, right? But this is because people are
• 1:03:04
  measuring adoption wrong. People are looking at Bitcoin
• 1:03:07
  being used as a medium exchange as adoption.
• 1:03:10
  They're saying how many of my friends and family members go
• 1:03:14
  down to their local store and buy a coffee or a monster with
• 1:03:17
  Bitcoin? And that is one form of
• 1:03:20
  adoption. And that is a very low form of
• 1:03:23
  adoption. Again, that's probably less than
• 1:03:25
  1% globally, right? Even in El Salvador, maybe 10 or
• 1:03:29
  20% of the shops in Bitcoin country accepting Bitcoin as a
• 1:03:34
  medium exchange. But that's the wrong way to
• 1:03:37
  measure adoption, I believe. I believe there's two adoption
• 1:03:41
  curves that you need to be paying attention to in Bitcoin.
• 1:03:44
  The 1st is obviously medium exchange, how many people are
• 1:03:46
  buying coffee with Bitcoin? But then there's the second one
• 1:03:49
  that I think is more impactful for price, OK, and that is how
• 1:03:54
  many people are storing their value in Bitcoin.
• 1:03:58
  But more importantly, this is the monetization adoption curve
• 1:04:02
  of Bitcoin. What percentage of the people
• 1:04:05
  who control the majority of that $900 trillion of money in the
• 1:04:09
  world are adopting Bitcoin? This is the far more important
• 1:04:13
  one because this is Bitcoins, Tam store value asset.
• 1:04:18
  OK, Now what percentage of those people are buying Bitcoin?
• 1:04:22
  Let me tell you, it's higher than 1%.
• 1:04:24
  And these are the people who matter, the people who control
• 1:04:27
  the $900 trillion. They're the people you should be
• 1:04:30
  paying attention to. And this is the big idea.
• 1:04:33
  Nobody's watching the adoption rates that we see across nation
• 1:04:38
  states, sovereign wealth funds, asset managers, corporations.
• 1:04:43
  They are the people who matter. They are the people who in
• 1:04:47
  Michael Saylor's case, own 2% of the Bitcoin supply.
• 1:04:51
  There's 2 1/2 thousand billionaires and one billionaire
• 1:04:55
  already owns 2% of the Bitcoin supply.
• 1:04:58
  There's 58,000 public companies. One public company is squatting
• 1:05:02
  on 2% of the supply. OK, just look at the world's
• 1:05:06
  largest asset managers. BlackRock, the beginning of
• 1:05:08
  today's show, we're talking about Charles Schwab, Fidelity,
• 1:05:12
  Goldman Sachs. If you look at the top ten
• 1:05:14
  largest asset managers around the world, like 8 of them are
• 1:05:18
  like bullish on Bitcoin in a really big way.
• 1:05:22
  OK, so what's that 80% adoption? You, you, we are seeing 80%
• 1:05:26
  adoption in the, in the industry that matters, in the realm that
• 1:05:31
  matters, the world's largest asset managers.
• 1:05:33
  What about sovereign wealth funds?
• 1:05:35
  5 out of the 10 largest sovereign wealth funds are also
• 1:05:38
  buying Bitcoin. Qatar, you know, the UAE has two
• 1:05:44
  really big sovereign wealth funds.
• 1:05:46
  There's five of them out of 10. What about pension funds?
• 1:05:51
  Some of the world's largest pension funds are buying
• 1:05:53
  Bitcoin. Japan, the world's largest
• 1:05:55
  pension fund with a $1.7 trillion pension fund.
• 1:05:59
  They came out a couple of months ago and they said, yeah, you
• 1:06:01
  know what? We are investigating Bitcoin for
• 1:06:04
  diversification strategies to hedge against the risk of the
• 1:06:07
  Japanese. Yeah, this is coming from the
• 1:06:09
  world's largest pension fund in Japan, saying we don't want to
• 1:06:13
  hold our own currency. It's a shit coin.
• 1:06:15
  We're looking at Bitcoin and gold as diversifications.
• 1:06:19
  So again, I think if you, I believe the big idea is
• 1:06:23
  everybody's paying too much attention to medium exchange
• 1:06:27
  adoption and they're not paying attention to the hedge funds
• 1:06:30
  that control $5 trillion worth of assets.
• 1:06:34
  OK, of the 25 largest hedge funds around the world, 60% of
• 1:06:40
  them own Bitcoin. 16 of the top 25 largest hedge funds in the
• 1:06:45
  world own Bitcoin. And 47% of all of the hedge
• 1:06:49
  funds, again, there's 15,000 hedge funds own Bitcoin.
• 1:06:53
  OK, these are the guys who matter.
• 1:06:55
  The hedge fund is a $5 trillion industry.
• 1:06:58
  Pay attention to that. Sovereign wealth funds control
• 1:07:01
  $50 trillion of capital. 50% of the largest sovereign wealth
• 1:07:05
  funds own Bitcoin. 50% of the option.
• 1:07:07
  What about the world's largest asset managers?
• 1:07:10
  10s of trillions of dollars. Pay attention to these guys, not
• 1:07:15
  your mom or your dad or Auntie Jane or Bob, your uncle who has
• 1:07:19
  $100 net worth and they're not using Bitcoin because they're
• 1:07:24
  too smart. OK.
• 1:07:26
  Technologies are never adopted or driven by the masses.
• 1:07:30
  The masses do not matter. It's the visionaries, Henry Ford
• 1:07:34
  said in the early 1900s. If I had of asked the everyday
• 1:07:38
  person what they wanted, they would have said faster horses.
• 1:07:43
  They can't think outside of the current paradigm and think maybe
• 1:07:46
  I'm going to invent an automobile or even when they see
• 1:07:48
  the automobile, they think odds boiling the oceans, it's dirty,
• 1:07:52
  it's odd it's so dangerous right again.
• 1:07:55
  So the big idea is people are paying attention to the wrong
• 1:08:00
  data and right now we talked about it earlier in the show the
• 1:08:03
  Bitcoin ETFs own 1,000,000 coins in a year.
• 1:08:07
  Public companies hold 500,000 Bitcoin and a lot of that buying
• 1:08:11
  has been in the past 12 to 18 months.
• 1:08:14
  If you simply extrapolate those trends out with not a lot of
• 1:08:19
  Bitcoin on exchanges in four years time, baby, I actually
• 1:08:22
  think the exchange is going to be drained in four years time.
• 1:08:25
  We've seen over a million Bitcoin leave the exchanges
• 1:08:29
  since 2020. Again, 20/20/2020 was that
• 1:08:32
  inflection point where the first time in Bitcoin's life coins
• 1:08:35
  started actually leaving the exchanges again.
• 1:08:38
  Think about how significant that is.
• 1:08:39
  The 12 years between 2008 and 2020, the coins or the number of
• 1:08:43
  Bitcoin on exchanges only grew. That's because people didn't
• 1:08:46
  understand Bitcoin. That's because the big boys
• 1:08:49
  weren't saying, hang on a minute, Bitcoin's an asset.
• 1:08:51
  You buy, you take off the exchanges and you never sell for
• 1:08:54
  100 years, like Michael Saylor says.
• 1:08:57
  But for the past four, nearly five years now, we've seen that
• 1:09:00
  trend change. We've seen 35% of all the
• 1:09:02
  available Bitcoin disappear off the exchanges and they're just
• 1:09:06
  moving to the wallets of people who I'm not selling their
• 1:09:10
  Bitcoin. Long term holders.
• 1:09:11
  The amount of Bitcoin held by long term holders is at all time
• 1:09:14
  high. That was a long rant.
• 1:09:16
  I do this a. Lot, a lot to unpack there.
• 1:09:18
  I don't, I don't know where to go from there, man, but I
• 1:09:21
  absolutely hold on. Absolutely love it.
• 1:09:25
  That was a, the great, great summer summation of what the big
• 1:09:29
  idea is. And man, I really like that
• 1:09:31
  metric because I did this meme a while ago.
• 1:09:34
  I, I can't find it on my Twitter, but I, I tried to, you
• 1:09:38
  know, 65 IQ explain the adoption curve and what is going on with
• 1:09:43
  Bitcoin. And I like transpose the Bitcoin
• 1:09:46
  price over like an X&Y chart. And it really was like, you
• 1:09:52
  know, the X line was adoption of, you know, everyday people,
• 1:09:58
  how many people are holding Bitcoin and the why was just the
• 1:10:02
  conviction levels of these high net worth individuals.
• 1:10:05
  And if you put, you know, you transpose the Bitcoin price
• 1:10:08
  above it. And I think that really starts
• 1:10:10
  to make sense to people of like what is actually going on.
• 1:10:13
  Obviously, we know as Bitcoin grows and old seller or old
• 1:10:17
  buyers become new sellers, new people start to enter the market
• 1:10:21
  and that's the distribution level of Bitcoin.
• 1:10:23
  But the thing and that really takes the Bitcoin price up is
• 1:10:26
  these really rich people with high conviction.
• 1:10:28
  And I think you, yeah, I think you did a very great, great
• 1:10:32
  little, you know, summary of what's going on here, Luke.
• 1:10:35
  But I do want to maybe nitpick a little here cuz you did say
• 1:10:40
  there's not going to be any Bitcoin on exchanges in four
• 1:10:43
  years. But we all know that, hey, they
• 1:10:46
  just got to give us a good price to, you know, sell this Bitcoin.
• 1:10:49
  So Bitcoin will kind of, you know, get back to and you know,
• 1:10:54
  on the exchanges because hey, old, old buyers are going to
• 1:10:57
  want to lock in some profits. But there was a number that you
• 1:11:00
  kind of triggered in my mind you considering how much Bitcoin the
• 1:11:04
  spot Bitcoin ETFs are are are scooping up right now.
• 1:11:08
  I saw a number and it said something on the lines of if the
• 1:11:11
  Bitcoin price doesn't double or triple or quadruple within the
• 1:11:15
  next couple of years, then Larry think in the spot Bitcoin ETF.
• 1:11:19
  You know, company and all the people out there like the the
• 1:11:23
  ilk of Street, they can buy another million Bitcoin in about
• 1:11:26
  a year or so. So I don't know about you guys,
• 1:11:29
  but it seems like the Bitcoin price has to start pumping.
• 1:11:33
  It seems like it has to go up just to kind of maintain the
• 1:11:37
  economics that we've seen in Bitcoin play out for a little
• 1:11:40
  while. So I don't know man, Luke, I'm
• 1:11:43
  starting to feel a little bullish, more bullish than usual
• 1:11:46
  today. So I don't know you want to add
• 1:11:48
  a little more on that because I do have some other topics here
• 1:11:51
  that I know you wanted to talk about.
• 1:11:53
  Yeah, I mean just quickly on that one.
• 1:11:54
  The big idea is the supply suffocation is going to happen,
• 1:11:59
  you know, gradually then suddenly.
• 1:12:01
  And I think like a lot of people had the wrong idea of the supply
• 1:12:05
  suffocation. I don't think coins leaving the
• 1:12:07
  exchanges over the next two months means price has to go up
• 1:12:11
  for me. I've always said that's the
• 1:12:13
  reason why I'm so focus on watching the number of Bitcoin
• 1:12:17
  on exchanges is because when that hits zero, that is when we
• 1:12:20
  find out who is swimming naked. And that is when we find out
• 1:12:24
  which exchanges have been selling paper Bitcoin.
• 1:12:26
  Because when there is 0 Bitcoin on exchanges publicly, everybody
• 1:12:29
  can see that on Twitter and they're posting the charts and
• 1:12:32
  they're trying to withdraw Bitcoin off Coinbase.
• 1:12:34
  And Coinbase is saying, yeah, you know what might take a week
• 1:12:37
  or two weeks or a month? We know that they're pissing on
• 1:12:40
  our shoulders and telling us it's raining, OK?
• 1:12:43
  We know that they're lying to us and that's when the real price
• 1:12:47
  of Bitcoin, it's not 200,300 thousand, it's much, much
• 1:12:51
  higher. So that's why I'm so interested
• 1:12:53
  in the exchanges and yeah, I got no, I that's the big the big
• 1:12:57
  idea is people aren't thinking about what does it look like if
• 1:13:00
  there are no Bitcoin on exchanges.
• 1:13:02
  And that's kind of where we start rapidly approaching.
• 1:13:06
  Bitcoins tan much quicker than most people think.
• 1:13:08
  Yeah, Tam, it's total addressable market guys for you
• 1:13:11
  guys not in the know. Anyways, Luke, you know, all I
• 1:13:14
  heard was all your models are destroyed and you did throw a
• 1:13:20
  little jab earlier on the show. So, and I know you wanted to
• 1:13:26
  talk about it and this is all the rage right now is the power
• 1:13:30
  law. So I don't know, I know you
• 1:13:32
  wanted to hit this. You What's your thoughts on the
• 1:13:34
  power law? Yeah, the power law is gonna
• 1:13:37
  break. Go.
• 1:13:40
  Power law is gonna be completely destroyed.
• 1:13:44
  Again, no disrespect to Giovanni.
• 1:13:46
  I love the fact that he's trying to contribute to the Bitcoin
• 1:13:48
  space doing work, You know, I mean, I love anybody who has
• 1:13:53
  contributions. So I don't want to make it sound
• 1:13:55
  like I'm attacking the person. I'm just attacking the idea.
• 1:13:58
  And I think the idea of extrapolating the 1st 15 years
• 1:14:02
  of Bitcoin data into the future, where for the 1st 12 years of
• 1:14:05
  Bitcoin's life, 99.9% of the people who mattered weren't
• 1:14:10
  buying Bitcoin. OK, 99.9% of people who are
• 1:14:15
  buying Bitcoin pre 2020 were retail.
• 1:14:18
  This was like and how much money does retail control in the
• 1:14:21
  world? How much money out of that 900
• 1:14:23
  trillion total addressable market cap does retail control?
• 1:14:28
  2 trillion, three trillion, 10 trillion Max 20 trillion.
• 1:14:32
  Retail doesn't matter. The masses don't matter.
• 1:14:36
  And these cycles and these models that we saw play out when
• 1:14:42
  retail was dominating the market, yes, all humans are the
• 1:14:46
  same, but what retail does is different to what smart money
• 1:14:51
  does. OK?
• 1:14:52
  Smart money isn't going to disappear from Bitcoin for two
• 1:14:56
  years when the price goes down 20%.
• 1:14:59
  That's why I believe we had two year long bear markets.
• 1:15:02
  And that's because why 99.9% of the people buying Bitcoin pre
• 1:15:08
  2020, they were retail money. OK, so everybody's taking what I
• 1:15:13
  believe is faulty data free 2020, and they're saying this is
• 1:15:17
  exactly how BlackRock and Michael Saylor are going to
• 1:15:21
  behave. Michael Saylor is going to
• 1:15:23
  behave the same way that retail did.
• 1:15:25
  And they're also assuming that they have the same amount of
• 1:15:28
  capital. They're also saying that retail
• 1:15:31
  has the same ability to move the market that Michael Saylor does,
• 1:15:34
  and that's not true. In the past two weeks, Michael
• 1:15:37
  Saylor has bought 130,000 Bitcoin.
• 1:15:40
  That's 300 days of new supply being bought by one person.
• 1:15:46
  So I think as Richard Jones in the chat says, Godzilla is
• 1:15:50
  coming, all of your models will be destroyed, completely
• 1:15:53
  devastated. Bitcoin goes to the moon.
• 1:15:56
  And it's all because of this billionaire FOMO we have.
• 1:15:59
  This is another big idea I've got.
• 1:16:01
  This show might go a little bit long.
• 1:16:03
  But another let the boy cook. Let the boy cook.
• 1:16:07
  Let's cook baby. Big idea is the billionaires are
• 1:16:11
  greedy, right? Everybody's greedy.
• 1:16:14
  It's human nature. And what happens when Michael
• 1:16:18
  Saylor's just walking around with that big swing?
• 1:16:20
  And let's be careful with what we say.
• 1:16:22
  But right now, Michael Saylor's company's going from $1 billion
• 1:16:26
  market cap to $90 billion market cap, and all of a sudden he's
• 1:16:30
  overtaking all of these guys who think they're so rich, so
• 1:16:32
  brilliant, so intelligent, And what happens when he continues
• 1:16:36
  to climb that world's richest man leaderboard?
• 1:16:39
  I believe we see competitive FOMO.
• 1:16:41
  I believe people, some billionaires, I don't want to
• 1:16:44
  name names, but some of the billionaires like Elon Musk,
• 1:16:46
  Bill Gates, all these guys, they look at their net worth compared
• 1:16:50
  to others and it's like a race. It's a competition.
• 1:16:53
  I'm the second richest, I'm the third richest.
• 1:16:55
  I want to be #1 big swing and Chad, you know what I mean?
• 1:16:58
  I believe it is a competition. And pretty soon, really soon, in
• 1:17:03
  the next 12 months, we are beginning to find out that the
• 1:17:06
  only way to be that number one top dog and to have the world's
• 1:17:10
  most profitable company and to be the world's richest man is to
• 1:17:14
  be significantly long Bitcoin. And eventually people are going
• 1:17:18
  to have to come to the realization that the only way
• 1:17:20
  you stay richer than MicroStrategy or Michael Saylor
• 1:17:24
  is you buy more Bitcoin than MicroStrategy and Michael
• 1:17:28
  Saylor. Right now that's nearly feasibly
• 1:17:31
  impossible because Michael Saylor has 400,000 Bitcoin and
• 1:17:36
  he owns 2% of the supply. So that means out of the two and
• 1:17:40
  a half thousand billionaires who the majority of them want to be
• 1:17:43
  richer than Michael Saylor, their only option and way to be
• 1:17:48
  richer than Michael Saylor is to buy more Bitcoin than Michael
• 1:17:51
  Saylor. But again, there's only two
• 1:17:54
  million Bitcoin on exchanges. So that means if you need more
• 1:17:57
  than 400,000 bitcoins to be richer than Michael Saylor,
• 1:18:01
  there's only enough Bitcoin for what, five of the two and a half
• 1:18:06
  thousand billionaires to be richer than Michael Saylor.
• 1:18:10
  So this is just another big idea.
• 1:18:11
  We're going to see billionaire FOMO, we're going to see public
• 1:18:14
  corporation FOMO, we're going to see hedge fund FOMO.
• 1:18:17
  And it's going to be a race for the scarcest asset.
• 1:18:20
  And they're all going to want to hold bit, not not all, but a lot
• 1:18:24
  of these entities who are buying Bitcoin, yes, some of them will
• 1:18:27
  trade, but a lot of these entities will just be buying
• 1:18:29
  Bitcoin for 100 years, like Michael Saylor.
• 1:18:32
  And I believe these guys who like the hedge funds control $5
• 1:18:37
  trillion or like the asset managers control 50 trillion.
• 1:18:41
  These guys taking a 1%, two percent, 10% allocation to
• 1:18:44
  Bitcoin, then buying at $500,000 a coin, They are going to matter
• 1:18:50
  a lot more than the retail plebs like us who are selling 10% of
• 1:18:54
  our stack to upgrade our lifestyle.
• 1:18:56
  So yes, you're always going to see Bitcoin sold to exchanges
• 1:18:59
  when Bitcoin hits 1,000,000. Sure, I'll, I'll peel off a
• 1:19:01
  little bit and sell a 1%, two percent, 5% of my Bitcoin
• 1:19:05
  position that I've huddled since 2017, right.
• 1:19:09
  But me selling a little piece of my position, the BlackRock, we
• 1:19:13
  don't matter. Like we're the fucking math
• 1:19:15
  group, the people who matter, the people who are going to be
• 1:19:20
  on the other side of that trade and they're, they're
• 1:19:22
  indiscriminately allocating to Bitcoin for 10 or 20 years.
• 1:19:27
  So I think that's the big idea. The the billionaire FOMO is
• 1:19:30
  coming and I I just don't think people are ready for what
• 1:19:35
  happens. Yeah, this comment that people's
• 1:19:38
  1% stack is more than my 100%, like 1000% stack.
• 1:19:43
  Oh man, that's so funny. That is hilarious.
• 1:19:45
  Yeah, I love it, Luke. Actually, I do kind of want to.
• 1:19:48
  We are kind of running a little long today, but I want to let
• 1:19:51
  Luke cook a little more. I kind of have a very similar
• 1:19:55
  thinking because I, I think I said it, it might have been this
• 1:19:57
  week, I forget where I said it, but I'm also getting the same
• 1:20:01
  kind of trend and, and vibe that you're getting in.
• 1:20:05
  I've, I've been kind of flipping the diminishing returns meme on
• 1:20:07
  its head where I'm kind of feeling like we're going to get
• 1:20:11
  not necessarily diminishing returns, but like diminishing
• 1:20:14
  volatility on the downside because of what you said.
• 1:20:17
  We're like, you know, the quote UN quote, smart money's coming
• 1:20:19
  in. They're not going to FOMO or
• 1:20:21
  panic into the market. And when I hear all that and
• 1:20:25
  like knowing the psychology of of these asset managers, it
• 1:20:29
  makes me think like they're going to be holding that Bitcoin
• 1:20:32
  and not selling it and not necessarily trying to trade it.
• 1:20:35
  Obviously some people will trade that Bitcoin, but all of that is
• 1:20:39
  just making me feel like maybe we aren't going to see, you
• 1:20:43
  know, 90 percent, 70% corrections.
• 1:20:46
  Maybe, you know, it's going to be a 50 or 30% correction, which
• 1:20:49
  is still going to hurt if you're a Bitcoiner that's all in on
• 1:20:51
  Bitcoin. But I would, I'd love to see
• 1:20:53
  dampen volatility on the downside.
• 1:20:56
  And that would like, you know, very provably and with data show
• 1:21:01
  me that oh, people are starting to catch on to this Bitcoin
• 1:21:05
  thing. And as I say it all the time,
• 1:21:07
  well, actually I got corrected. But you know, I was saying for a
• 1:21:10
  while that the Bitcoin price is a real time metric of the
• 1:21:13
  world's understanding of Bitcoin.
• 1:21:15
  I think it was Matthew J in the chat that corrected me and he
• 1:21:17
  was like, no, it's the bottom of the bear market.
• 1:21:20
  That is the real time metric of people's understanding of of
• 1:21:23
  Bitcoin. So I think you kind of touched
• 1:21:25
  on that leak where you're kind of seeing the same thing where
• 1:21:27
  you're like these hedge fund managers, like they're not going
• 1:21:30
  to sell out of their positions at a bear market.
• 1:21:33
  They're going to understand by the dip like they're greedy,
• 1:21:35
  they want more Bitcoin. So I'm hoping that we see
• 1:21:38
  something similar. Obviously everyone's kind of
• 1:21:41
  looking at 2026 for the bear market to, you know, rear its
• 1:21:45
  head again, but I would love to see what you said that, you
• 1:21:48
  know, the quote UN quote, smart money out there is going to kind
• 1:21:52
  of dampen the volatility on the downside and I I'm that'd be
• 1:21:55
  great. I'd love that.
• 1:21:57
  Yeah, so I, I'm, I don't have the the, the hubris to say I
• 1:22:02
  know exactly what's going to happen in the future because
• 1:22:05
  math and science and my model says this is 100% going to
• 1:22:08
  happen. Definitely don't have the
• 1:22:10
  hubris. But I do have the feeling that
• 1:22:13
  we are potentially going to see something different.
• 1:22:15
  And that's just because the data has changed.
• 1:22:18
  OK, That's just because Michael Saylor literally did just buy
• 1:22:21
  300 days of new Bitcoin supply in two weeks.
• 1:22:25
  Like that's the facts. And he's not selling it again.
• 1:22:28
  Again, some people have questioned Sayla.
• 1:22:30
  Oh, he says he's not going to sell it for 100 years, but can
• 1:22:33
  we trust him? Well, I mean, he's been buying
• 1:22:34
  Bitcoin for nearly five years in a row now, and he hasn't sold
• 1:22:37
  any. OK, so maybe you have to start
• 1:22:40
  believing him. Maybe you have to start
• 1:22:42
  believing Buchely and El Salvador who right now is
• 1:22:45
  sitting on half a billion dollars of profit because of
• 1:22:48
  their Bitcoin strategy. They've huddled that through a
• 1:22:51
  bear market for the best part of three years now.
• 1:22:53
  OK, So I believe that yes, we have the potential to see
• 1:22:58
  smaller bear markets And again, I don't think we've actually
• 1:23:02
  seen a Bitcoin bear market with the institutions and the big
• 1:23:05
  boys involved. So I don't know what it's going
• 1:23:07
  to look like, but I do think saying every time we have an 80%
• 1:23:12
  bear market and it has to last for two years because that's
• 1:23:15
  what happened in 20/14/2018 and 2022, because it happened then
• 1:23:21
  when retail money dominated the space.
• 1:23:23
  It has to happen in the future. And I just think that's stupid.
• 1:23:26
  I think that's idiotic thinking. I don't think it's math and
• 1:23:29
  science based at all. Just because the price right now
• 1:23:33
  is following what you think is a model.
• 1:23:35
  I think the underlying fundamentals are going to break
• 1:23:37
  all of our models. So I'm personally prepared for
• 1:23:40
  anything though like again, my models, my, my conviction will
• 1:23:45
  not shake or waver in Bitcoin if we're at $10,000 tomorrow or $10
• 1:23:50
  million tomorrow. I've thought about both
• 1:23:53
  situations and under either circumstance, it doesn't change
• 1:23:57
  much for for me about Bitcoin. Like I expect Bitcoin to be
• 1:24:01
  worth $100 million a coin, $200 million a coin, $500 million a
• 1:24:06
  coin. I don't know.
• 1:24:07
  But again, if I wake up tomorrow and Bitcoin's at $10,000, again,
• 1:24:11
  in the short term, markets are irrational unless something has
• 1:24:15
  fundamentally changed with Bitcoin, unless blocks aren't
• 1:24:19
  being produced every 10 minutes or unless something really
• 1:24:22
  dramatic has changed. I got $10,000.
• 1:24:24
  Bitcoin's not going to worry me tomorrow.
• 1:24:26
  So again, I'd encourage everybody to study Bitcoin.
• 1:24:30
  And when you do, you do develop this sort of conviction that any
• 1:24:34
  price doesn't really waiver you because why would you hold
• 1:24:37
  anything else? Like if Bitcoin crashed to 50K
• 1:24:40
  tomorrow, what are you going to do?
• 1:24:41
  You're going to sell Bitcoin for Fiat money that somebody
• 1:24:44
  controls the bases and can hold over your head and convert into
• 1:24:48
  a CBDC. Are you idiot?
• 1:24:50
  Why would you want slave tokens, right?
• 1:24:53
  So again, I think that it really is.
• 1:24:57
  So I, I think to answer the the question, I, I think the
• 1:25:01
  possibility of shorter bear markets for me it's my base case
• 1:25:05
  50% pull backs, but I am prepared for everything.
• 1:25:09
  Love it, Luke, Love it. Well, I usually ask our guests
• 1:25:13
  to leave our audience with one last message, so I'm gonna do
• 1:25:18
  the same for you. But I'm gonna, I'm gonna tweak
• 1:25:21
  it a little bit. I, I, I think it'd be hard for
• 1:25:23
  someone to listen to this show and not be stupidly bullish.
• 1:25:27
  But I want you to leave the audience with one more last
• 1:25:31
  bullish message and tell them why they need to buy some
• 1:25:36
  Bitcoin. Oh, I got a couple.
• 1:25:39
  So I think some people, I've had some people say, Luke, you're
• 1:25:43
  being bullish. Firstly, you don't believe it
• 1:25:45
  and two, it's dangerous. I've had people who told me it
• 1:25:48
  was dangerous to be bullish on Bitcoin and bull posting about
• 1:25:51
  it when it was a $16,000 a coin a couple of years ago.
• 1:25:54
  Firstly, I am this bullish on Bitcoin.
• 1:25:57
  Again, I haven't lived in Australia for three years
• 1:25:59
  because my base case is Bitcoin's going to monetize
• 1:26:02
  really rapidly and I don't want to be living in a authoritarian,
• 1:26:04
  tyrannical government. That's a prison, Connelly.
• 1:26:07
  It's a prison colony in an island.
• 1:26:09
  OK, when Bitcoin's at $1,000,000 or $10 million a coin, because I
• 1:26:12
  don't know how the Australian government will react.
• 1:26:15
  We saw how they reacted in 2020 and I don't want to take chances
• 1:26:18
  on that. So I, I, again, I am as I, I
• 1:26:22
  genuinely am as bullish as I sound online.
• 1:26:24
  I genuinely believe Bitcoin's going to monetize much quicker
• 1:26:27
  than most people think. And I kind of backed that up
• 1:26:30
  with how I live my life. So most people aren't bullish
• 1:26:33
  enough on Bitcoin. The other part of the question
• 1:26:38
  was I, I just think all of this is going to happen much quicker
• 1:26:42
  than we think. There are no models for how
• 1:26:45
  digital scarcity gets adopted by the world.
• 1:26:47
  And I genuinely do believe, like, yeah, we talk about price
• 1:26:50
  a lot, but Bitcoin is the most liberating technology in human
• 1:26:54
  history, and it is the most impactful technology in human
• 1:26:57
  history. And it is going to change our
• 1:26:59
  civilization and the world more than any other technology before
• 1:27:03
  in human history. And it's a big claim.
• 1:27:06
  I'm saying Bitcoin's going to be more important than fire.
• 1:27:10
  OK, Alex Fetsky, a good friend of mine, has written an
• 1:27:13
  incredible article, Fire, Bitcoin and Teleportation.
• 1:27:16
  And he says those 3 inventions are going to be, well, they,
• 1:27:19
  they have been and they will be the most impactful inventions
• 1:27:22
  for our civilization. OK, again, fire was the thing
• 1:27:26
  that actually grew our brains, OK?
• 1:27:28
  Fire was the thing that for 10s and hundreds of thousands of
• 1:27:31
  years significantly impacted our evolution because when we could
• 1:27:35
  cook food with fire, we could get more nutrients from our food
• 1:27:40
  and our brain grew. It liberated more calories for
• 1:27:45
  us. That changed our civilization a
• 1:27:47
  lot, dramatically. OK, I'm telling you, I believe
• 1:27:52
  Bitcoin could have a bigger impact on our civilization than
• 1:27:57
  FIRE, than the printing press. The printing press completely
• 1:28:01
  changed how the world operated 500 years ago.
• 1:28:04
  It separated the church from state because it democratized
• 1:28:07
  and decentralized information for everyone.
• 1:28:10
  Bitcoins are way bigger than the printing press.
• 1:28:13
  Bitcoin is going to separate money from state for the first
• 1:28:16
  time in 7000 years. For the first time in 7000
• 1:28:19
  years, we're going to have a form of money that nobody
• 1:28:21
  controls, debases, and cannot confiscate from you.
• 1:28:27
  OK, I, I, I really do believe Bitcoin's going to be the most
• 1:28:30
  liberating technology in human history.
• 1:28:32
  Yes, the price is crazy. Yes, I talk about the price a
• 1:28:35
  lot on my live streams. Yes, I talk about the ETFs a
• 1:28:38
  lot. But like, the real revolution
• 1:28:40
  here is that for the first time in human history, we're living
• 1:28:43
  through what the sovereign individual authors call is the
• 1:28:47
  information age, the first decentralized revolution in
• 1:28:51
  human history. And Bitcoin is a core component
• 1:28:55
  of that revolution, a core tool. And so are things like these
• 1:29:00
  other cool technologies we have, like the Internet, which for the
• 1:29:03
  first time in human history allows us to communicate and
• 1:29:06
  learn from anybody around the world.
• 1:29:08
  There are 8 billion people right now.
• 1:29:10
  I could listen to or communicate with anyone around the world and
• 1:29:14
  send them value instantly. 20 years ago, 100 years ago, you
• 1:29:19
  can literally only communicate and learn from somebody in your
• 1:29:23
  physical location. Like 0.000000001% of the world's
• 1:29:30
  population you had to talk to communicate with, learn from,
• 1:29:36
  marry, date somebody who was in a 30 kilometer radius from you
• 1:29:41
  because we didn't have cars. OK, I think a lot of these
• 1:29:45
  models we have from the industrial age are still being
• 1:29:49
  thought of in the digital age, in the information age and think
• 1:29:54
  people were simply not thinking about everything in life in a
• 1:29:58
  bigger picture, you know, framework.
• 1:30:01
  So again, I guilty once again of talking for a very long time,
• 1:30:05
  but I think Bitcoin is the most important technology that our
• 1:30:10
  civilization has ever discovered.
• 1:30:12
  It is the thing that could potentially save us from living
• 1:30:17
  on this planet forever, OK? I think the invention of energy
• 1:30:20
  money is essential in getting the world to cooperate more and
• 1:30:24
  getting us off this planet, OK? The smartest individuals that
• 1:30:28
  have ever walked this planet, you know, Henry Ford, Nikola
• 1:30:32
  Tesla, the light bulb creator, what's his name?
• 1:30:37
  Edison. All of these guys were
• 1:30:40
  fascinated with energy money in the late 1800s and the early
• 1:30:44
  1900s because it's the biggest thing since sliced bread.
• 1:30:49
  Satoshi Nakamoto in 2008 create created energy money.
• 1:30:54
  So I think it really is much bigger than most people think.
• 1:30:58
  I think Bitcoin is the most liberating technology.
• 1:31:02
  I mean, I could talk about Bitcoin for hours.
• 1:31:04
  There's 2 billion people that are unbanked around the world.
• 1:31:07
  What happens when you give those 2 billion people a bank account?
• 1:31:10
  20% of the world is locked out of the global economy. 20% of
• 1:31:13
  the world cannot create these revolutionary ideas and create a
• 1:31:17
  business because they can't get capital, because they don't have
• 1:31:20
  a bank account. They're locked in the industrial
• 1:31:23
  age. How many Albert Einsteins are
• 1:31:26
  amongst those 2 billion people who don't have bank accounts?
• 1:31:29
  How many incredible ideas do those people have in their
• 1:31:33
  brains? A lot of ideas.
• 1:31:36
  How many extra ideas? How many extra incredible
• 1:31:40
  businesses will be built when people have more time, when
• 1:31:44
  they're not thinking about robbing, stealing, or just
• 1:31:47
  trying to survive because they're on the rat race, because
• 1:31:50
  the cost of living is incredibly expensive?
• 1:31:53
  How many extra incredible ideas will be created by our
• 1:31:56
  civilization when the money is fixed and people can do what
• 1:31:59
  they should do, and that is work a little bit 2010 hours a week
• 1:32:04
  maybe, maybe less hours a week, buy the things that they need to
• 1:32:08
  survive. And then the rest of the time
• 1:32:09
  they can think about what makes them passionate.
• 1:32:12
  They can build a business, they can provide a good service to
• 1:32:14
  the marketplace. I, I think I could talk about
• 1:32:16
  Bitcoin for hours and why it's so important.
• 1:32:18
  But I, I do think it's the most important technology in human
• 1:32:22
  history. And nobody has grocked that idea
• 1:32:25
  yet. Bitcoin is a binary bet.
• 1:32:27
  It's all or nothing. And it is really Bitcoin.
• 1:32:30
  Or as Nico says, it's Bitcoin or slavery.
• 1:32:33
  In the digital age, if Bitcoin fails, we're living under a
• 1:32:38
  totalitarian gulak. So it's a pretty big idea.
• 1:32:42
  Well, let's go. I've been used.
• 1:32:46
  I've been used that soundboard in a minute.
• 1:32:49
  So Luke, thank you for coming on, man.
• 1:32:51
  Good way to send off everyone on the weekend guys.
• 1:32:55
  If you liked the bullish signal from Luke, make sure you follow
• 1:33:00
  him on Twitter. Luke Mikic 21 maybe for the
• 1:33:03
  audio listeners, Mikic is MIKIC of course, go follow his YouTube
• 1:33:08
  as well. Luke Mikic guy's making
• 1:33:10
  incredible content. He's out there putting the bull
• 1:33:13
  sauce in your ears. Wait, pause every single day.
• 1:33:19
  Luke, thank you for coming on. We're going to have to bring you
• 1:33:22
  back on again with with Nico here so you can you can turn
• 1:33:25
  that bear into a bull just like yourself.
• 1:33:28
  Anyways, Luke, really appreciate you, man.
• 1:33:30
  It was a great show. Thank you so much for having me
• 1:33:33
  man. Always love getting on a live
• 1:33:35
  stream with the Simply Bitcoin team and absolutely love the
• 1:33:38
  live chat. I was giggling and smiling like
• 1:33:41
  an idiot the whole time. There's so many people that so
• 1:33:43
  many familiar faces in the live chat, but I absolutely love
• 1:33:47
  these live streams. Just, it's hilarious.
• 1:33:49
  Yeah, chat, chat's goaded. Chat's goaded.
• 1:33:52
  All right, guys, Luke, hang out for a second behind the scenes,
• 1:33:55
  and I'm gonna wrap up today's show.
• 1:33:57
  Guys. We made it through another week.
• 1:34:00
  If you're not feeling bullish today, I don't know what is
• 1:34:02
  going to make you feel more bullish.
• 1:34:04
  But anyways, if you enjoyed the show, of course, like comment,
• 1:34:08
  let us know. Are you feeling this bullish or
• 1:34:11
  are we just smoking the opium here?
• 1:34:12
  And of course, subscribe to Simply Bitcoin.
• 1:34:15
  We will be back Monday with our normally scheduled program and I
• 1:34:19
  hope you guys have a good weekend.
• 1:34:20
  Make sure you get outside, touch some grass, get the sun on your
• 1:34:23
  face, eat some good food, call your mother or your family and
• 1:34:27
  your loved ones. It's very important that you
• 1:34:30
  maintain your in world connections.
• 1:34:32
  All right guys, this is your boy Opti.
• 1:34:34
  Of course, that was Luke Mikic and we'll be back on Monday.
• 1:34:38
  Peace out guys, have a good weekend.
• 1:34:42
  Today's episode was brought to you by bitcoinwell.com, a
• 1:34:45
  Bitcoin only platform on a mission to enable financial
• 1:34:48
  independence.