Latest / Simply Bitcoin / Trumps NEW Executive Order Allows TRILLIONS To FLOW into Bitcoin | EP 1305

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Trumps NEW Executive Order Allows TRILLIONS To FLOW into Bitcoin | EP 1305 · Simply Bitcoin

0:00
Trump's new executive order that is about to be signed, Well,
0:04
it's supposed to be signed right now.
0:05
I didn't see anything about this, but it might have just
0:08
changed the $12.5 trillion retirement system forever.
0:14
The majority of you watching probably have the sense that
0:17
retiring is becoming harder and harder to do each year, and it
0:21
seems like the Trump administration is hitting that
0:24
exact point as we speak. And on a broader sense, Bitcoin
0:30
as a vehicle for retirement has just went mainstream.
0:34
So let's get into it. What are we talking about?
0:36
And of course, I'm here with the wonderful Internet.
0:38
Sophie Niko has to catch a flight, literally, like, as we
0:41
speak. Actually, Soph's going to leave
0:43
as the show goes on. Oh.
0:45
Oh, she's not leaving. OK Niko's leaving to go to Rega
0:48
anyways. No one cares about that.
0:49
Here we go. Here is the headline for today.
0:53
This came out last night, but apparently there was a leak
0:58
coming out that Trump is going to sign an executive order
1:02
today. It was supposed to happen at
1:04
noon today, Eastern Time. I haven't seen anything come out
1:07
of it. But as you can see from the
1:09
headline, he's going to sign an order to allow crypto currencies
1:12
into four O 1K. So when you dive into it, it's
1:14
not just quote UN quote crypto currencies.
1:17
It is a little more. And then the phrasing they use
1:20
is pretty interesting. So I'm gonna break down this
1:22
CNBC article. I got a couple different quotes
1:24
and then we'll kind of break this down and the bigger picture
1:27
of what's going on. So here is CNBC and it goes The
1:30
crypto markets jump Thursday on excitement that Bitcoin and
1:33
other digital assets could soon be being added to four O 1K
1:38
retirement plans. President Trump is set to sign
1:41
an executive order that would allow four O 1K accounts to
1:44
invest in, quote, alternative assets, including private
1:47
equity, real estate and digital assets.
1:50
And of course, today people are arguing that This is why the
1:53
Bitcoin price jumped back up to 116 K You could probably, you
1:59
know, argue that it's a lot of other stuff.
2:01
But widespread inclusion of Bitcoin in Americans retirement
2:04
accounts has long been viewed as a Holy Grail for crypto
2:07
adoption. Conceivably, it would make the
2:09
cryptocurrency a mainstay of U.S. financial infrastructure,
2:13
expand X access and encourage long term investing in the
2:17
asset. The retirement market is
2:19
currently where it's $43 trillion, which is absolutely
2:22
huge. 41 KS. I, I saw some different numbers.
2:25
It said somewhere between like 8 trillion and 12 1/2 trillion.
2:29
So this is a lot of capital. This is this is a whole new
2:32
market that's being opened up and with the trend we've
2:35
basically seen in the last couple of weeks really being
2:38
spearheaded by Michael Saylor is a Bitcoin is tapping into these
2:43
incredibly huge markets. For a long time, Bitcoin wasn't
2:47
able to be accessed through these various different markets.
2:51
And now in a short span, literally in weeks, we've seen
2:55
Bitcoin, or rather different Bitcoin related products being
3:00
able to tap into these various different huge trillion dollar
3:04
capital pools, which is a huge move, a a huge kind of turn of
3:09
the page that we've seen around Bitcoin in the past couple of
3:12
years. Considering that we were getting
3:14
attacked for so long here as bitcoiners as an industry.
3:18
And of course, the public view of Bitcoin for forever has been
3:22
stay away from that Internet nerd money.
3:24
It's speculation, it's got no value, you know, there's no
3:28
intrinsic value to this thing. And now literally in a couple of
3:32
weeks, in a few months, it's gone from just simply Bitcoin
3:35
and everyone else on YouTube talking about Bitcoin for
3:38
retirement to now the biggest, biggest institutions, biggest
3:43
capital pools acknowledging Bitcoin as a vehicle for
3:47
retirement. So almost 9 trillion of that is
3:50
held in four O 1K. So 9 trillion of the 43
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trillion. Again, I, I got different
3:55
metrics. It's like 8 trillion, 12 1/2
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trillion. CNBC is kind of referencing 9
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trillion of that $43 trillion retirement market will go into
4:06
four O 1K plans. And of course, we all know the
4:08
Bitcoin market cap is around 2 1/2 trillion today.
4:13
And there's a good tweet, tweet, good tweet, good tweet of Mike
4:17
Novogratz. There was actually a clip of him
4:20
on CNBC this morning talking about this, but he he started
4:23
talking about Bitcoin treasury companies and that's out of the
4:25
scope of this video today. And he goes, quote, there's a
4:28
monster pool of capital. And what we're seeing is the
4:31
aperture of being able to buy crypto being widen and widen and
4:35
more avenues bringing people into the tent.
4:38
When it becomes commonplace, when you can do it at the place
4:40
you've already been doing business with like Fidelity or T
4:44
Rowe Price or whoever it is, you just pull more people into this
4:48
ecosystem. Now even last week we were
4:51
talking about in kind redemptions.
4:52
That's a whole new capital opening up into buying Bitcoin.
4:55
Bless you. And now it seems like the
4:59
retirement market 4 O1 KS literally the most conservative
5:04
kind of investment vehicles are starting to tap into Bitcoin,
5:08
which I think is one of these kind of turning the page.
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This is one of those big movements.
5:13
So I do have some other quotes here.
5:14
I can't pull them up because of, you know, guidelines over here,
5:17
but quote. The order directs the SEC to
5:20
facilitate access to alternative assets for participants directed
5:24
defined contribution retirement savings plans by revising
5:28
applicable regulation and guidance.
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And this is quoting an anonymous White House source.
5:33
And this is on Reuters. And it goes on to say many
5:36
private equity firms are hungry for the new source of cash that
5:38
retail investors could offer after three years in which high
5:41
interest rates shook their time honored model of buying
5:44
companies and selling them at a profit.
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Whatever changes may come from Trump's order likely will not
5:50
happen overnight. Again, these things take some
5:52
time private equity. But Plankton's lawyers are
5:56
already preparing for lawsuits that could be filled by
5:58
investors who do do not understand the complexity of the
6:01
new forms of the investment. So you can see there is some
6:05
kind of pushback here. There's still this view that
6:08
Bitcoin is too risky for retirement.
6:10
Obviously, for us as Bitcoiners on Simply Bitcoin, you guys in
6:13
the chat, we look at it the other way.
6:15
It's too risky to hold anything but Bitcoin for retirement.
6:18
This is the only thing that's going to last for the test of
6:21
time. It's going to go up in value.
6:22
Everything else is going to get the base.
6:25
And again quoting Bloomberg here we have the order will direct
6:30
the Labor Department to re evaluate guidance around
6:33
alternative asset investment in retirement plan subject to the
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Employee Retirement Income Security Act of 1974.
6:40
And the department will also be tasked with clarifying the
6:43
government's position on the fiduciary responsibilities
6:46
associated with offering asset allocation funds that include
6:50
alternate holdings. And then one more quote here,
6:53
opening 4O1K to private market products would offer savers more
6:56
investment options and proponents argue, greater
6:59
potential upside. But with that comes, of course,
7:02
greater risk and higher fees that might leave retirement plan
7:05
administrators vulnerable to lawsuits.
7:08
So you can see a lot of the moves we're seeing right now is
7:11
not just for kind of giving a tacit approval of Bitcoin.
7:16
It's not so much them just bending the knee to the
7:18
ideological backings of Bitcoin. It's really what we say all the
7:23
time. Look, for better or worse, the
7:25
gains of Bitcoin bring people into the space.
7:28
And if you look at what bitcoins done the last 16 years, maybe
7:33
you could argue just the last 15 years or even further, just the
7:37
last five years, it's been the best performing thing period.
7:40
And now with Trump essentially saying we're going to be as
7:45
America, we're going to be the Bitcoin superpower of the world,
7:47
the floodgates are opening up. We're starting to see the
7:50
regulatory environment start to be a little more favorable.
7:53
We're seeing a lot of change happen at the SEC.
7:57
We're seeing institutions tentatively dip their toes into
8:00
Bitcoin, at the very least kind of acknowledging, hey, we need
8:04
to have some clear rules of the road here.
8:06
We need to understand if we can actually move capital into this
8:09
market. And now all of those basically
8:12
red flags, all of the red tape has been cleared around Bitcoin
8:17
and it really starts to make you think that this price can't be
8:21
at 115 K for very long. Now I did kind of break this
8:25
down a little bit, you know, just kind of thinking through
8:28
what this all means. Essentially, the short of it is
8:32
Trump is opening up the floodgates.
8:34
And I have a good tweet from stack Hodler here that I'm that
8:38
I'm after I lay out kind of the the significance of this that I
8:41
think is really going to kind of paint the picture of what is
8:44
actually going on. And before I do that, I have
8:47
been calling it the billionaire flood playbook.
8:49
Well, we have a kind of maybe a new play the billionaire pack
8:53
their pack their bags playbook. This is where we are.
8:56
So anyways, you can think of this as Bitcoin going
8:59
institutional. Now, I know we've been saying
9:01
this in Bitcoin for a long time. Institutions are coming.
9:03
The institutions are coming. And recently a lot of Bitcoiners
9:06
are maybe feeling a little queasy here because Wall Street
9:10
entering our ecosystem, you know, institutions are embracing
9:15
Bitcoin. You're starting to see Bitcoin
9:17
treasuries come into into the space, acquire a bunch of
9:21
Bitcoin. And a lot of people have been
9:23
kind of arguing that Bitcoin is losing its cypherpunk roots that
9:27
hey, man, why is every these why are all Bitcoiners cheering on
9:31
the institutions? I thought this was the
9:32
separation of money and state. Guys.
9:35
I think this was how Bitcoin was gonna take over the world
9:39
eventually, yes, we've had the idea that it was going to happen
9:42
on a grassroots level, just individual stacking Bitcoin.
9:44
But if Bitcoin isn't able to tap into these huge capital markets,
9:49
then it was always going to be relegated to the fringe.
9:51
Now we have the vehicles for Bitcoin to tap into these
9:54
markets accelerate, yeah, hyper acceleration.
9:58
And then of course, like I said earlier, this is a a stamp of
10:01
approval as Bitcoin being a legitimate retirement asset.
10:05
We've been talking about this for a long time on our show.
10:08
You guys used to troll us because we did the how much
10:10
Bitcoin to retire show basically every other day on this show for
10:13
a little bit. But this is also kind of in a,
10:19
in a roundabout way, the way of the federal government or these
10:23
institutions in Wall Street, everyone that has some capital
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essentially saying, you know, Bitcoin is a long, long term
10:30
store of value. You can put your capital into
10:33
into Bitcoin. You can put your life savings
10:35
into Bitcoin and it's going to be here for a while.
10:37
It's no longer just a speculative play.
10:40
And we've been seeing this kind of change in real time around
10:43
here at simply Bitcoin, considering that we cover the
10:46
news constantly. And now Bitcoin very clearly is
10:49
competing with stocks, bonds and real estate inside, inside of
10:53
the most conservative and the biggest pools of capital and
10:56
retirement plans. It's it's a, it's a huge move
10:59
here. And then of course, the whole
11:01
regulatory take around this of we, we just got out of an
11:04
administration, at least here in the US that was actively hostile
11:08
against Bitcoin. And now we have one that is, you
11:12
know, for lack of better terms, very much shilling Bitcoin.
11:15
They are going full force behind Bitcoin.
11:18
And then the last thing is really this is institutions
11:22
having to adapt. They have to bend the knee now.
11:24
No longer can they get away with like what the Vanguard CEO said
11:27
when the ETF launched a year ago.
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Oh, you know, we don't want anything to do with this.
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It's very clear they have to adapt or get left behind.
11:35
From everything we're seeing here, you know, whether it's the
11:39
institutions embracing Bitcoin, whether it's corporate
11:42
treasuries buying billion dollars of Bitcoin, whether it's
11:45
the US and nation state game theory playing out.
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This is a bullish signal now that retirement funds and then
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that might sound scary to a lot of people like oh you're going
11:56
to put my retirements into a a speculative vehicle here.
11:59
Well, guys, that's what your bank does anyways.
12:01
This is this is what they do anyways and from our
12:04
perspective, this is the safest thing to be holding long term,
12:08
but this is a bullish another bullish signal coming through
12:12
from the pipeline showing us hey, Bitcoin is here to stay.
12:16
It's going to very quickly take over the world.
12:19
If you aren't adapting to this new paradigm, you are going to
12:23
be left behind. And if you're a young guy, you
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know, I, I don't have a four O 1K.
12:27
So I don't really even know how 4 O1 KS work.
12:30
I just know they're for retirement.
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Bitcoin is my retirement here and now all that capital can go
12:35
in. And actually, before we go on
12:37
even further, Sophie, let's let's tell tell the people the
12:41
story of your dad talking about this, which is what we were
12:44
talking about earlier. It's like the boomers are
12:47
getting the signal. Yeah, so my dad sent me a
12:50
picture of the TV today. CNBC President Trump expected to
12:57
sign executive order today, includes private equity,
13:00
cryptocurrencies and real estate.
13:02
And he's so excited. I told him to tune into the show
13:05
today as well as my mom. Shout out mommy and Poppy.
13:09
And that's that's when you know, like when when this starts to
13:12
become legitimized in the eyes of boomers, who are the people
13:17
who are holding the majority of our wealth, you're going to see
13:20
a major wealth transfer from these assets to Bitcoin because
13:26
they're going to start realizing that the returns on these rental
13:29
properties, the returns on these bonds are just like they're not
13:33
giving. They're really not like doing
13:35
anything for them. And these people want big, big
13:39
bags, OK? Like they're used to living
13:41
large. They're used to the 80s where
13:43
bigger was bigger. And they are anxious.
13:47
They're they're wondering, they're like, wow, like why
13:50
isn't the thing that I was doing for the last 30 years working
13:55
anymore? And it's because we have this
13:57
new asset, this new form of technology.
14:00
And let's be real, boomers and Gen.
14:03
X not the best with technology, but when they have the
14:08
incentive, when they have something that is 23410 Xing,
14:13
they are going to learn very quickly.
14:16
And I'm just excited that, you know, the lead boomer President
14:20
Trump is just like spearheading this movement.
14:24
The executive order honestly feels like a gun for a beautiful
14:29
quarter four. I think that all of the stars
14:33
are aligning for us to have an extremely bullish end of the
14:38
cycle. And you know, the bearishness is
14:40
kind of wearing off. Like I'm waking up from
14:42
hibernation now and I'm suddenly becoming a farmer because hello,
14:46
I'm becoming a bull. They're going to be printing
14:48
more money. They're going to be, they're
14:51
going to be buying all of like all of the Bitcoin, these paper
14:54
Bitcoin institutions, they're going to have to figure out a
14:57
way to buy Bitcoin. Coinbase is buying more Bitcoin
15:01
because they're realizing, Dang, the supply is really, really
15:04
low. And at some point all these
15:06
people are going to want to cash in at the end of this cycle.
15:08
So I would hold on real tight because we're about to go to the
15:13
moon. Yeah, And I, you said something,
15:16
I mean, that story of your dad, I, I was, I was also telling
15:19
Sophie, like, I love when my dad sends me like pictures of the
15:24
Wall Street Journal talking about Bitcoin and that they were
15:27
at first it was like once every couple of weeks and then they
15:29
kind of speed up. And what your dad said in
15:33
talking about it, it really reminds me or really kind of
15:36
just like makes it very clear that we are in the middle of a
15:40
paradigm shift. This isn't just like a trickle
15:43
of adoption or rather, you know, mainstream conversation around
15:47
Bitcoin. This is a fundamental shift of
15:50
what's happening in the space. And maybe you have, you know,
15:54
some some reservations about it, which is I think very healthy
15:57
for us to have. But this is just showing like
16:00
there is a fundamental or rather a huge shift happening, a
16:05
seismic shock that is happening around Bitcoin.
16:07
And it's hard not to get bullish around what is happening right
16:11
now. Of course, as Niko has been
16:13
saying, it might be the most bullish news cycle around
16:16
Bitcoin. But the price maybe is a little
16:19
lackluster. I don't know.
16:21
I did conversations with a check maybe last night.
16:23
And he's like, dude, just where, where are you even getting the
16:26
game? Like where are you?
16:27
What chart are you looking at? Where are you kind of looking at
16:30
that is telling you this isn't a bullish cycle?
16:32
I think we're up depending on what bottom you're talking
16:34
about. We're up like 5-6 X from the
16:38
2022 bottom. Maybe we maybe it's not a
16:42
parabolic blow off top, but I think it's still bullish.
16:45
I think that we're just, we want more, we expect more.
16:49
More. Because we see the potential.
16:52
And when you see the potential, it just like there's like this
16:55
cognitive dissonance in your mind that like begs the
16:59
question, why isn't the price higher?
17:01
If this and this and that and whatever are happening,
17:03
especially everything that's happening in the news cycle, how
17:07
is it not at $1,000,000 right now?
17:11
But whatever, I digress. I, you know, I'm not the one in
17:15
charge of the money printer or the price of Bitcoin.
17:21
And I think that, you know, at the end of the day, the price
17:24
has been good to us. Has it been as good as as
17:27
previous cycles? Probably not.
17:30
But you know what they say, you buy Bitcoin at the price that
17:32
you deserve. And you know, the the the early
17:35
adopters, the first adopters are the ones who are most reaping
17:38
the benefits. So you know it is what it is.
17:42
Hey, it is what it is, though. I think the real bombshell take
17:45
here though, is not so much that just retirements are going or
17:49
retirement accounts are going. 4 O1 KS are going to be able to
17:53
get capital into Bitcoin. It really reminds me.
17:56
And again, guys, I've been telling you, I've been going
17:58
down this like Mark Moss Mar a Lago Accord rabbit hole
18:01
recently. Tombowongo has been kind of
18:03
talking about it for a while, but Stack Halder Hodler, stack
18:08
holder, Zach Hodler, wow, I can't speak this this magnesium
18:12
L3 and eight's not working anymore.
18:14
Anyways, he he kind of pinned, I think what is going on here.
18:19
And it goes to the idea of Scott Bessent and Donald Trump and
18:24
Howard Leutnick, all people in the Trump administration.
18:28
I think we're underestimating just how high they want this
18:31
Bitcoin price to go. So I'm gonna read that tweet
18:33
here. And, you know, putting some
18:36
putting some dots together here for us.
18:39
This is like the most bullish take of this.
18:41
So Stack Hodler on Twitter goes, look, Trump, the Trump family,
18:45
of course, the Trump Media Group filled their bags with over $2
18:48
billion worth of Bitcoin. And given everything we know
18:51
about Trump, is he one to pass up the opportunity to use his
18:54
power to cement his family's financial status for
18:57
generations? POTUS is now incentivized to
19:00
send Bitcoin to $1 million per coin and beyond unleashing 4O1K
19:05
plans to stack Bitcoin is just stage 1.
19:09
And it really, it really is. I, I think it do be like that,
19:13
like from what we're seeing the Trump administration, they, they
19:20
obviously one used the Bitcoin industry or the crypto industry
19:24
at large to secure their spot. Of course, many of their
19:27
running, you know, campaign promises were surrounding
19:31
Bitcoin ending operation 2.2 point O, releasing and pardoning
19:36
Ross Ulbricht. And then of course, you know,
19:39
the digital asset working group getting, you know, Bitcoin or
19:42
America to become the Bitcoin superpower of the world.
19:45
And then the one promise that he hasn't fulfilled yet is 150K
19:49
really in his presidential run or, you know, term, which again,
19:54
we don't know what early really means, but we've been seeing
19:58
this kind of move play out for a while.
20:00
Again, I said it a minute ago, I used to call it the Billionaire
20:03
Fudd playbook. We've seen Jamie Dimon do this
20:06
constantly. You fudd Bitcoin, you say hey, I
20:09
don't like this Bitcoin thing. And then you stack your bags,
20:13
you know, you silently accumulate, you silently acquire
20:16
Bitcoin. And then once you kind of have
20:18
your position, you go out there and you say, hey, this Bitcoin
20:22
thing's not that bad. I will let my customers buy this
20:25
Bitcoin thing. I'm not a believer in this
20:26
Bitcoin thing. I like blockchain and maybe
20:28
stable coins, but it's OK if you want to buy it now.
20:32
I think we've kind of gone into a more bull tarded environment
20:37
where we have Trump projecting and telegraphing what he's going
20:41
to do. He's like, we're going to make
20:41
it. We're going to make Bitcoin the
20:43
global superpower or America the global superpower of the world
20:48
in Bitcoin. He's been talking about creating
20:51
a strategic Bitcoin reserve, talking about clear regulations
20:54
here. And then his Media Group, which
20:57
he has like the majority stake in it does that follows a a
21:00
sailor strategy copycat by $2 billion.
21:05
And now he's like, you know what, what, what's one more
21:07
thing I can do? Unleash trillions of dollars of
21:11
capital to get into Bitcoin? I'm, I'm really not even mad
21:15
about this. And I'm really kind of like, OK,
21:18
Daddy Trump, pump our bags. OK.
21:20
Hey, we're not, we're not. I'm not a maggotard here like
21:23
Nico, but pump our bags. Apparently even Janet Yellen is
21:28
like vying for Jay Powell to print that money.
21:33
And I think he's getting very close.
21:35
I think that he's kind of getting to the point where it's
21:38
like resign or print the money, so.
21:41
Well, we're seeing a a few different things.
21:44
So Janet Yellen, of course, came out yesterday, I believe it was.
21:48
And she did say the exact same thing that Trump and Lummis have
21:52
been saying that Jerome Powell needs to cut interest rates.
21:56
And then I believe there was another insider, I don't have
21:58
the source, it came out kind of anonymous that we are going to
22:02
see 3 cut starting in September and the Poly market odds on
22:06
that, which of course doesn't necessarily relate to like what
22:09
is actually happening, but they are trending really high.
22:12
So if that is the case, if we do get 3 interest rate cuts
22:17
back-to-back starting in September, the free money is
22:21
going to flow. And anytime we have low interest
22:24
rates, the liquidity expands, you know, debt goes up, people
22:28
start to take out more loans. That's always going to find a
22:31
way into Bitcoin with lower interest rates, with the dollar
22:35
weakening, that's, that's like the most bullish setup we can
22:39
have for the end of the year. So it's looking really, really
22:43
good. Now I do want to say something I
22:44
I forgot to mention earlier with these with this executive order
22:49
that Trump is talking about allowing A4 O1 KS to invest in
22:53
Bitcoin. This will have to happen on a
22:56
like per company basis. So it's not like now all of the
23:01
four O 1 KS are mandated to buy Bitcoin.
23:04
It's gonna be up to the people that are issuing the four O 1 KS
23:08
or you know, like it's so it's not it's but.
23:11
But this means that now like those company, yeah, it not
23:14
only, not only they can, they have to compete with with each
23:18
other like, and what are what are these companies going to
23:20
naturally want to do when they see companies that are giving
23:26
their their pensioners a higher return?
23:30
They're going to say, damn, like we should probably like get on
23:33
that Bitcoin standard. It's probably actually a good
23:37
thing. And we can also benefit from
23:40
this. And also I should probably buy
23:42
my family some Bitcoin and put it into self custody.
23:44
What what, what's happening? And then all of a sudden you
23:49
become a believer because we are greedy human beings and we are
23:53
led by our incentives. And once people see the results,
23:57
the proof is in the pudding and people make moves.
24:01
That's just like the nature of the economy, right?
24:04
Like the the invisible hand or whatever that this is like the
24:08
orange hand and it's slapping you across the face telling you
24:12
buy some more Bitcoin, put it into self custody.
24:15
Damn the coffee this morning was good bro.
24:17
Yo there there's a lot of things.
24:19
I I could make some some, some jokes on their selfie, but we're
24:23
going to keep it. What keep it appropriate we.
24:27
Got to keep it appropriate. That was that was like.
24:29
We're going to get kicked off of it.
24:31
There was a lot of crazy a yo moments in that last two
24:34
sentences there. But anyways, we're we're not
24:36
going to talk about that. We do have a great show for you
24:40
guys. So we have some other
24:41
interesting news coming out of the Federal Reserve, which is
24:45
really kind of going down what Senator Lummus has been saying
24:48
around the strategic Bitcoin reserve.
24:50
And then Matt Hogan, a bitwise just doubling down on the global
24:55
game theory, the nation state game theory going on right now.
24:59
And in the in the end of the show, we're we're going to get a
25:01
little more a little bullish hash rate is going nuclear.
25:03
And if you know, you know. And so I'll leave it at that.
25:08
On that note, guys, I do want to remind you to of course, smash
25:11
the like button comment on the show.
25:15
Well, actually, so maybe we drop a poll.
25:18
Are we going to hit 250K this year?
25:20
And then of course, hit subscribe, subscribe button.
25:22
If you love Sophie and you want to see her create more content
25:25
and not be, you know, dragged down by someone with a 42 IQ
25:30
like myself, hit the subscribe button to simply Bitcoin.
25:33
We have the best content creators in the game and we drop
25:37
the most content. Dante Rustin Selfie Oceans And
25:41
then you're stuck with us here, me and Nico on the live show.
25:46
The mediocre. The mediocre content content.
25:50
You guys carry this whole entire channel on your backs and we, we
25:54
love you. We get no respect out here.
25:56
We get no respect out. All right, guys, let's keep it
25:59
moving. On that note, I do want to give
26:01
a huge shout out to our boys over at Bitcoin.
26:05
Well, go to bitcoinwell.com/simplyBTC, make
26:10
sure you're buying real Bitcoin, and make sure you use an
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And what do I mean by that? They are self custody by
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That does mean you need a Bitcoin wallet to sign up with
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them. And of course when you sign up,
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scan the QR code here or here and you get 3 chances in the
26:48
Bitcoin wishing well to win a million sets, which I think
26:52
that's what like $1100 right now.
26:54
That's so crazy. And of course, if you are by
26:57
chance, you know someone with some some deep bags still
27:01
sitting on the sideline and you're like, OK, you know this,
27:04
this really low IQ guy and this pretty girl are really making
27:08
some sense and maybe I need to get more of my money into
27:11
Bitcoin. Go get in touch with the Bitcoin
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today. All right guys, we're over here
29:12
on a Clark Moodys dashboard and of course the current Bitcoin
29:16
price is 116,240, which is a measly decline of a -5.5% from
29:25
all time high. We are currently at block height
29:28
of 909,000 and 48 again 909048 and the market cap and Fiat
29:34
terms is $2.31 trillion. There's still a lot lot, a lot
29:40
of room to run guys. Anyways, let's keep it moving.
29:42
Oh my, my computer is reacting here.
29:45
Anyways, we got this clip here from Matt Hogan.
29:48
He is the CIO of Bitwise, of course, A Bitcoin fun that he's
29:54
been doing some great work recently.
29:55
I think in the last since Trump kind of came out pro Bitcoin, he
29:59
has been just gone super bullet hard and I absolutely love it.
30:03
I love when you know, very eloquent older gentlemen are
30:09
able to shield Bitcoin. It makes us look good.
30:12
It makes us look less low intelligent over here on on
30:16
simply Bitcoin because we say the same thing.
30:18
We just don't say it nice and wearing a suit.
30:20
But let's hear what he's saying here and we'll chat about it.
30:25
I I think it's the same growth curve, just at different phases.
30:28
It's a it's an exponential growth curve.
30:30
It's just that the, the, the sort of bank wirehouse
30:36
institutional curve is so far down that now the doubling is
30:40
very visible, right? Like we've, we've seen a steady
30:43
acceleration. We're past the hockey stick
30:44
point. I think nation states are moving
30:48
in that direction, right? It's not just El Salvador now we
30:52
had Pakistan a little while ago. We have Bitwise, it's multiple
30:57
sovereigns. We had Abu Dhabi, we've had a
30:58
few others. I think it's moving in the right
31:01
direction. We're just earlier in the
31:03
doubling phase. But you know, look, I, I think
31:07
if the US actually buys Bitcoin, I can't imagine what that does
31:11
to the price or to the game theory of other companies,
31:16
countries moving into the space. I, I think it would be, I think,
31:20
I don't think that's priced into the market at all.
31:23
This is what is happening in real time.
31:26
Yes, we are still kind of in the dark in regards to why the US
31:32
either hasn't told us how much Bitcoin they have or whether
31:35
they are still accumulating. It seems like they are kind of
31:39
laying out the the regulations, the the clarity that is needed
31:43
for them to be able to stack Bitcoin in a quote budget
31:47
neutral way. But just the very impact of them
31:51
telegraphing they're going to buy Bitcoin is obviously making
31:54
waves and I think doubled that to what we just heard about four
31:58
O 1 KS ETF in kind redemptions going live or actually being
32:02
possible. You're starting to see around
32:05
the world that countries can no longer really have the effect
32:08
that they used to have. I mean, everyone saw over the
32:10
weekend there was the the fake news story of China banning
32:14
Bitcoin again and the market was just like, yeah, whatever dude,
32:17
like the US is embracing it. If you don't like it anymore,
32:20
that's cool. Back then it when it, when they
32:22
banned Bitcoin, it actually made an impact on the market.
32:26
And now it's like, OK, look, China is banning it.
32:29
That's cool. America's embracing it.
32:31
And now as Matt Hogan said, he's literally said verbatim, we are
32:34
in bless you. We are in conversations with
32:37
multiple nation states talking about acquiring Bitcoin.
32:41
And of course, it, this is no longer the the flavor of the
32:44
month here, but for a couple of months, it was always a new
32:47
announcement of a country either talking about doing a strategic
32:51
Bitcoin reserve or passing a bill or introducing a bill to do
32:56
a strategic Bitcoin reserve. Now I think the conversations
32:59
are becoming a little more serious.
33:00
You're starting to see it's no longer really just a, should we
33:04
do this? It's like, how can we actually
33:06
do this? And how can we make this happen
33:08
without us basically ruining our reputation?
33:11
And so he said, personally, I've had these conversations and
33:15
they're taking it very seriously.
33:17
And now if the US does come out, I don't know, end of year, maybe
33:21
the beginning of next year and say, yeah, you know, hey, we are
33:25
acquiring Bitcoin. I think that is when all our
33:28
models are broken and things are going to get absolutely crazy.
33:31
Anyway, Self, you're the nation state expert over here.
33:34
So what's your thoughts on this? I mean, as evidenced by last
33:39
cycle, who cares what China's going to do?
33:42
Like we're, we're the USA baby. Like, we don't care what China's
33:47
going to do. In fact, they're going to do
33:49
everything in their power to compete with us.
33:51
We start buying Bitcoin, they're going to start buying Bitcoin.
33:55
Russia's going to start buying Bitcoin.
33:57
Everyone's going to start buying Bitcoin around the world.
33:59
Because the reality is that everybody else's currency
34:03
depends on the US dollar. And whatever the US does
34:07
financially, they're just going to follow in lockstep.
34:10
And and that's kind of that's, that's it.
34:13
It used to matter because, you know, the US wasn't even in the
34:17
conversation, but America has entered the chat guys.
34:21
And there's just like nobody, nobody.
34:25
Like at this point, we're just waiting.
34:27
We're waiting very patiently for the money printer to RIP and for
34:31
Trump to be like, I am going to buy some Bitcoin because it is
34:36
the right thing to do for our economy.
34:38
And that is what I promised when I said I would make America
34:41
great again. And, you know, South Park's
34:45
going to talk about it. And we're going to be a great
34:47
nation that is united because of it.
34:51
Bars. I love this.
34:53
Totally off topic here guys, but I love that Sophie speaks even
34:57
more zoomer than I do on the show.
35:00
Like I thought I spoke in memes, Sophie just speaks in just
35:04
straight. It's really coming out today.
35:06
It's just, it's really coming out today.
35:08
I spent a considerable amount of time on Twitter this morning and
35:14
yeah. Yeah, no, I mean, well, one on
35:17
that note before we kind of go back to the real conversation,
35:20
you know, as I've been telling you stuff, you got to get the
35:22
cringe out first and then the real personality comes out and
35:25
you're seeing Sophie's getting more comfortable on Cam guys.
35:28
So she's she's the superstar in the making the what's up?
35:31
I just, I just don't care anymore.
35:33
The Lady Gaga A star is born. A star is born.
35:36
I just don't care anymore because a number is going to go
35:38
up. I mean, everything is lining up.
35:40
Everything is lining up. There is no way that like do you
35:44
understand in the previous cycles, we 10X and we weren't
35:48
even talking about four O 1. Like if you would have told me
35:53
this the previous cycle, I would have never believed it.
35:57
I like we were prehistorically early and we're still early.
36:01
Like that's the thing. We're still early, but like
36:04
before we were prehistorically early like we were the dinosaurs
36:09
all right. And like now they're like
36:10
starting to find the fossils and being like, oh, maybe these
36:14
people were right. Maybe we should buy some
36:16
Bitcoin. And you know, now we're here.
36:19
Maybe we're like in Jesus times right now, in like year zero of
36:22
Bitcoin when people are actually starting to legitimately take it
36:26
seriously. But we still have such a long
36:29
way to go because until the US actually starts buying Bitcoin,
36:35
it's like this guy said that's not even priced in yet.
36:39
What happens when Apple starts accepting Bitcoin or Amazon
36:43
starts accepting Bitcoin or your landlord or local water supply
36:48
and you know municipals, you can start paying your bills in
36:51
Bitcoin commercial like institutions are going to start
36:57
accepting Bitcoin. That's when like your local mom
36:59
and pop shop start opting out of the Fiat monetary system.
37:05
And when that starts happening, well, the IRS is in big trouble.
37:11
OK, all right, I forgot I need to reel in Sophie sometimes.
37:15
But Sophie, you made a great point and the Chad's loving you.
37:19
They're they're literally saying sophs are a farming like a champ
37:21
on the show today. But Mr. B made a this is like
37:25
the main point here, guys, like they are projecting what they're
37:28
going to do if you are selling your Bitcoin right now, like
37:31
what are you even watching? Mr. BS goes, they're telling us
37:33
plebs to pack our bags before government pumps our bags.
37:36
How many more signs do you need? This is like the clearest thing
37:39
going on right now. And and I know our audience
37:42
isn't entirely just Americans. And so there there are people in
37:46
the chat that's like America isn't that great?
37:48
Like, hey, we're Americans here. We're you know, we're proud of
37:51
where we come from. We love, we love our country.
37:53
Look. Yes, we are.
37:56
We are that great. Actually.
37:58
Actually, we are. We're that girl.
38:00
America's that girl. Oh, man, so you're great.
38:04
But America is, you know, there there's debate whether it's
38:09
China or America, but America leads the world financially.
38:12
And So what we do here financially is going to, you
38:16
know, for lack of a better term, set the precedent around the
38:18
world. And when we make make a move,
38:21
everyone has to take it seriously.
38:24
They have to look at it and be like, all right, well, they just
38:27
did it. We should probably do it.
38:29
And this is like what we're seeing.
38:31
It's a very clear signal right now of what's going on.
38:34
They're telling you, hey, you should probably buy some
38:36
Bitcoin. We're gonna pump this.
38:38
And yet there's still people out there that are like, no, I
38:41
don't. I don't want that.
38:42
I don't, I don't want that. Best performing asset in the
38:44
last 15 years. That's dumb.
38:46
I, I don't want to speculate on stuff.
38:47
You're like, what are you guys looking at?
38:49
Everything's a speculation if you are in Fiat land.
38:51
And here we are just chilling with our stable coin that is
38:55
Bitcoin at 115 K Really mad because our dopamine's fried and
38:59
we're not getting a pump anymore.
39:02
They're going to pump it. It's got a pump.
39:03
It's going to happen sooner than later anyways.
39:06
Or maybe maybe they stall the price until they, you know,
39:10
print enough liquidity to buy the Bitcoin.
39:14
I mean that that might be why we're going sideways.
39:18
There might be some sort of like government manipulation here on
39:23
the price. We don't know.
39:24
We don't know what the government does.
39:26
We're actually like finding out every single day that we've been
39:29
lied to every single day. So we don't know.
39:33
We and, and, and my, my prediction is that they, they
39:40
know what's going on. They know that this is the only
39:44
way to break out of debt and stay in power.
39:47
They know that this is the most scarce asset in the face of the
39:52
planet Earth. And they know that if they don't
39:55
front run other countries in purchasing Bitcoin, they're
39:59
going to get left behind. Empires come and go.
40:03
And there's been a lot of speculation, you know,
40:05
comparisons to the Roman Empire here and the decline of the
40:09
Roman Empire in the United States.
40:11
I don't think that, you know, the smartest people in
40:13
government are aren't aware of that.
40:16
I think that they know and they're they're doing everything
40:20
that they can. And maybe some of them are aware
40:23
to the fact that Bitcoin is their only way out of this
40:27
decline. And you know, one can only hope.
40:30
And if they don't realize it, you've realized it, you've
40:34
bought Bitcoin, you've put it into self custody.
40:37
And that's, that's kind of like the only the best way that you
40:42
can, you know, save yourself from all of this.
40:44
So even if the US doesn't adopt it, even if which they will, but
40:49
even if they didn't, you know, we're, we're still good.
40:52
So it is what it is. Yeah, 100%.
40:55
And if you are watching only, even if you're if you're
41:01
watching right after you take a nap, the the writing's on the
41:05
wall. They're they're telling you the
41:06
quiet part out loud. They you should probably be
41:08
buying Bitcoin and it is super interesting just how much people
41:13
fight that idea when it's like this is here to benefit you.
41:16
This is here to help your life. And yet, you know, it could
41:19
stare you straight in the face and people don't want to touch
41:22
it. It's it's absolutely insane.
41:24
Buy some Bitcoin, put it in cold storage and chill.
41:28
OK, on that note, let's get into this interesting news coming out
41:32
of the Fed. I want to give a shout out to
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Nico's over here leaving. I was watching World War Z last
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night or two nights ago and I was watching it and I don't know
43:37
if you guys seen World War Three or World War Z in a while, but
43:40
they were literally using an Iridium SAT 123 phone.
43:44
And I text Nico, I'm like, bro, they're they're using a Iridium
43:48
phone. It's like the the fundamental,
43:50
like hinge of the movie is the satellite.
43:54
So if you think we're going into a zombie apocalypse, World War Z
43:58
told you that you need to get a SAT 123 phone.
44:02
And you're also going to need this to, you know, protect all
44:07
of your electronics, AKA your cold wallet from the apocalypse.
44:11
So make sure to get all the things apocalypse if this could
44:18
make it through the aliens. No, it's zombies.
44:21
Zombies. They're zombies.
44:22
I. Haven't seen.
44:23
All right, you're off, you're cut.
44:25
She's officially fired. Okay, let's get to this guys.
44:29
This is absolutely crazy. So there was a Fed note that was
44:34
dropped. This is, of course,
44:35
federalreserve.gov. And as you can see here on the
44:39
video and for the audio listeners, the headline is
44:42
official reserve Revaluations, the International Experience.
44:47
Very interesting that they're talking about reevaluating the
44:51
gold. So I highlighted a few portions
44:53
here and then there's a very interesting note here.
44:57
Interesting footnote to this official Fed note.
45:01
Anyways, it goes with public debt at high levels.
45:04
Some governments have begun to explore financing additional
45:07
expenditures with raising taxes while also not increasing public
45:11
debt outstanding. One possibility is using
45:14
proceeds from valuation gains on gold reserves, as had been
45:18
floated in the US and Belgium recently.
45:21
For the US, this would involve reevaluating the government's
45:24
261.5 million Troy ounces in gold reserves, the largest gold
45:29
reserves globally, from a statutory price of 42.22 per
45:35
Troy oz. You heard that right there.
45:37
EU S S gold reserves are priced at $42.00 per oz to current
45:43
market price prices, which stand around $3300 per Troy oz.
45:49
This note reviews the rare cases when countries used proceeds
45:53
from valuation gains on gold and foreign exchange reserves.
45:57
Central banks have used revaluation proceeds to offset
46:00
operating losses and maintain net profits or minimize reported
46:04
net losses. Central governments have drawn
46:07
on reevaluation proceeds to retire existing debt, often in
46:10
exceptional fiscal circumstances.
46:13
While reducing the debt stock using revaluation proceeds
46:16
improves the physical situation at the margin, drawing on
46:20
revaluation proceeds may not address larger structural
46:24
challenges. So bit corners have been saying
46:27
this for a long, long time that hey, if the Fed, you know, wants
46:31
to do some budget neutral ways to accumulate Bitcoin, maybe
46:34
they just reevaluate the gold prices to market prices of today
46:39
instead of what it's been stuck for the last, you know, I don't
46:42
know, 50-60 years here. It's actually probably longer
46:46
than that. That's an easy way for them to
46:49
quote UN quote, have a budget neutral way to stack Bitcoin.
46:52
Now official Fed note coming out about doing it, which is very
46:56
interesting because look at what they what this footnote is here
47:00
and this the rest of this is kind of examples around the
47:03
world of central banks that have done this and their impact and
47:06
what they've done and whether it was a good thing or a bad thing
47:10
for them long term. But again, looking at the
47:13
footnotes here, look at this one funny little footnote.
47:17
Here we have footnote one. In the US, The ideas come up in
47:22
the context of helping to establish a strategic Bitcoin
47:25
reserve or a sovereign wealth fund, and user evaluation
47:29
proceeds was proposed in recent legislation by Senator Lummis in
47:34
Belgium. The press reporting the
47:36
governing coalition was considering financing additional
47:39
spending partly through monetization of some of the
47:41
National Bank of Belgium's gold reserves, with the National Bank
47:45
of Belgium commenting on the idea in a recent press release.
47:48
So they are literally quoting Senator Lummus, the Bitcoin
47:52
senator, about reevaluating the gold and buying Bitcoin as
47:57
something that's been proposed. And here's a screenshot.
48:00
The Secretary shall issue new gold certificates to the Federal
48:03
Reserve Bank that reflect the fair market value price of the
48:07
gold held against such certificates by the Treasury.
48:10
And upon issue by the Secretary, each Federal Reserve Bank that
48:13
receives a new gold certificate, yadda yadda, yadda, will deposit
48:16
the funds. And of course, this is the the
48:21
Bitcoin Act where they would use that money to buy Bitcoin in the
48:26
strategic Bitcoin Reserve. So guys, again, I think we said
48:30
this yesterday, if you meme it, it will happen.
48:34
We have literally meme this into the Federal Reserve.
48:37
They are, well, I was going to say they're going to reevaluate
48:41
their gold holdings and buy Bitcoin with it.
48:44
I think Pierre Rochard was like the first one I saw that talked
48:46
about this. Now they're literally talking
48:49
about this from their own website, the official government
48:52
website. They are adding Senator Lummus
48:54
in the footnotes here about talking about this, proposing
48:58
this. I don't know, guys, from every
49:00
angle I'm seeing, it looks like every institution is bending the
49:04
knee. They're, they're all like maybe
49:06
this big, maybe we shouldn't fight this Bitcoin thing.
49:09
And that's like the real signal here.
49:11
They they they are begrudgingly bending the knee to Bitcoin.
49:16
Can I be a party pooper? Be a party pooper.
49:20
What if they're doing this because they're terrified of
49:23
Fort Knox getting audited? Literally what someone said.
49:26
Fort Knox is definitely empty, yeah.
49:28
No facts like big facts. They're like, look, if we just
49:32
re evaluate the gold then nobody will ask any questions.
49:36
At the end of the day, I just, I don't trust the government's
49:39
incentives. I think they're just going to
49:42
print the money and use that. Like why would they have to re
49:46
evaluate, do all that? That's a lot of work.
49:48
Like that's a lot of like paperwork and, and accounting
49:52
and just like it's messy and they like the government doesn't
49:56
have time to like do all of that stuff, especially not well
49:59
because they don't do anything. Well, I think that they are
50:02
literally just going to print money and like, say, oh, we have
50:05
it in gold, but like, in reality, they don't have any of
50:08
the gold. Fort Knox is super like that
50:12
shit's a tomb. Sorry, I know we're not supposed
50:15
to curse, but yeah, I, I, it's great.
50:20
Like, it's a great narrative. It's a great loophole.
50:22
I love that this is the story that they're going to sell to
50:25
the press. I think it's definitely going to
50:28
be a way to keep all of the non believers and anti bitcoiners at
50:32
Bay. But ultimately, like, let's be
50:37
so for real. Like they're just going to print
50:38
money and buy Bitcoin. And that's when it's game over.
50:42
That's totally when it's game. Over I mean, I'm cool with it.
50:44
I'm cool with it because like, that's what we do anyway.
50:47
So let's like, let's actually print money for the right
50:51
reasons, right? Well, preferably we don't print
50:53
money, but hey, if you're gonna print money, if we're, if we're.
50:58
Going to no, here's the thing if we're going to print money for
51:01
the purposes of buying Bitcoin, I'm cool with that.
51:05
If we're going to print money for the purposes of fighting
51:09
wars that have absolutely nothing to do with us, then I'm
51:14
not cool with that. You know, like, for, for all the
51:16
reasons that we've been printing money, like, no, that's, that's
51:18
a terrible reason to print money.
51:20
But if you're going to do it, at least do it to buy the hardest
51:25
asset the world has ever seen, you know, and, and actually
51:28
like, perhaps maybe do something good for our country instead of,
51:33
you know, the rest of the world for once.
51:37
Yeah, yeah. Maybe lower the deficit.
51:43
Maybe. They won't ever do that.
51:45
It would be nice. It would be nice.
51:48
It would be nice it. Would be nice, but yeah, I you
51:51
know, it does make you wonder what's right.
51:55
Wait guys, whatever happened to the Fort Knox audit in the 1st
51:58
place? Now they're like, let's just
51:59
revalue the golds. They were never going to do
52:02
that. Oh my God, Whoever believed that
52:05
they were going to do that probably still believes that
52:07
they're releasing certain documents.
52:11
Certain documents. Sophie is based, she's almost
52:14
too based to be on YouTube, but we're working through it guys,
52:17
we. Are working really.
52:18
I'm censoring myself OK? Like I'm being very well
52:22
behaved. Hello.
52:23
Now you're talking crazy, Sophie.
52:27
OK, yeah. What's going on with that gold?
52:35
Who knows? Let's keep Peter Schiff.
52:40
Is like the the ultimate, like crypt keeper of all of the gold
52:43
and that's why he defends it with his life.
52:47
Yeah, I mean, dude, dude, can we find, let me, can we find Peter
52:51
Schiff's Real time response to this?
52:55
Let me see if I can. Has anyone checked on Peter
52:57
Schiff? Is he OK?
52:58
Is he OK? Let's see if he responded
53:00
anything to this and then and then I'll move on and we'll wrap
53:03
up the show with with some some bullish stuff, some bullish
53:07
stuff here. No, see, he's only talked about.
53:10
Apple. Yeah, he's not talking a bunch.
53:12
Of nonsense. Interesting.
53:15
Peter Schiff, you need to start watching Simply Bitcoin, Man.
53:18
Let's see. Get in the chat.
53:19
Let's see, it doesn't seem like he has talked about this.
53:23
It's very interesting how, you know, selective conversations go
53:28
on with Peter Schiff here, talk about revaluing the gold, which
53:31
he he probably would be OK with. I'm pretty sure he's talked
53:35
about that in the past. But it doesn't look like, oh, he
53:41
did say this. So a Bitcoin strategic reserve
53:44
would be the ultimate taxpayer boondoggle.
53:47
Boondagle boondoggle. Damn.
53:49
That's a boomer. Ass worse than the 2008 bank
53:52
bailouts Leaving the American public as involuntary bag
53:55
holders in the Bitcoin pyramid scheme would be a new low in
53:58
American politics that confirms our founding fathers worst food.
54:02
Love it. You know at least he's
54:04
consistent. At least he's totally
54:06
consistent. I I'm I.
54:08
Just want to know what he's going to say about reevaluating
54:11
gold. Yeah, he, he didn't.
54:13
He's. Going to say it's a great thing
54:14
selling it though. I don't know about that.
54:17
I'm calling it right now. He didn't say anything about it.
54:20
So selective conversations here. Gotta love it, gotta love it.
54:25
All right, guys, let's let's end the show with some bullish
54:28
stuff, some bullish takes. I want to give a shout out to
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All right, I'm still kind of shook.
56:35
I don't even know what boondoggle is to be honest.
56:37
Shout out to the chat, we are on fire today.
56:40
If you guys like the show Smash Like button, share this video
56:43
with your friends and subscribe if you're not subscribed yet.
56:48
Let's go. She's a professional.
56:50
She. You can tell she's Nico's wife
56:52
here. Professional Schiller, anyways.
56:56
Listen. It's all good.
57:00
It's all good. All right, guys, so we are, we
57:02
haven't really brought up hash rate for a while and shouts out
57:04
to our boy Matthew J. He's he's been telling us he's
57:07
been working and stuff, so hasn't been in the chat with you
57:09
guys constantly, but he was screaming at the rooftops all of
57:13
last year. Or maybe it was the beginning of
57:15
this year. I, I forget time's a blur here.
57:17
But he kept saying we're going to one XA hash, bro, like or no,
57:20
sorry, one Zeta hash and he's like, it's gonna happen this
57:24
year. One Zeta hash which is 1000 Tera
57:27
hashes here and you can see we haven't technically gotten to
57:32
the one Zeta hash point here, but we are at all time highs and
57:37
it says 900 and the seven day moving average of the hash rate
57:42
is 958 Terra hashes. So we are, you know, seemingly
57:49
knocking on the door of one Zeta hash all time high.
57:54
You're talking Chinese. What is all of this mean?
57:56
I know this is this is the energy backing the Bitcoin
57:59
network. This is the amount of Bitcoin
58:02
miners that are getting pushed on the network.
58:04
Now I'm not I'm not really going to talk about the hash rate
58:06
here. So so you know, you could Google
58:09
what the hash rate is 0. No, no, no, I know what it is,
58:11
but like what? I like this is my next point.
58:14
This is this. What is happening?
58:15
This is the next point. This is the next, next point.
58:18
Why am I bringing this up? That's the real question.
58:21
It's not just that hash rates going to all time high.
58:24
It's not just that you know, more huge mining companies are
58:28
coming into the space. It's not that just that the
58:31
Trump's are embracing mining. It's not that the global game
58:35
theory around Bitcoin mining is going absolutely nuclear right
58:40
now. There has been a lot of rumors
58:42
of even like Russia kind of embracing even more so around
58:46
Bitcoin mining. We're seeing there's
58:48
conversations around the world of more government sanction
58:53
mining operations. That's not what we're talking
58:55
about here. This is purely just about hash
58:57
rate going to all time highs. And it reminded me of Max
59:02
Kaiser, what he always says that price tells you very little and
59:06
hash rate tells you everything. And it really goes into the
59:09
conversation of, you know, does hash follow price or does price
59:14
follow hash rate? And as Kaiser keeps saying
59:17
forever, it is price that follows hash rate.
59:21
So hash rates going to all time high, which just means that
59:26
Bitcoin is going to continue to go to all time high.
59:31
That is my take. That's my official take here.
59:34
We will go back here. Just look at this guys.
59:36
It's going parabolic. It it must be really hard out
59:40
there for the pleb miners, the you know, everyday miner right
59:43
now, unless you have very cheap electricity, probably hard to
59:47
compete. But what do the miners know is
59:50
the real question. If we are seeing more and more
59:52
hashrate join the network, that obviously means that the Bitcoin
59:56
price has to start ripping and let me let me look at something
1:00:01
over here. Oh, wrong one.
1:00:03
I have a chart here. Shouts out to my boy Capriole
1:00:05
Investment. Actually, he's not really my
1:00:07
boy, but I really like his work. He has this chart here, which is
1:00:14
Bitcoin production cost, the cost of production of Bitcoin.
1:00:17
And you can see we are very clearly going over these clouds.
1:00:21
So the cost production of a Bitcoin right now is I believe
1:00:25
$74,000 per Bitcoin and with hash rate keep going up, I think
1:00:31
that is going to continue to go up anyways.
1:00:33
All that's to say. So if is, the price is going to
1:00:36
RIP. Do you think that this means
1:00:37
that more like regular people are going to start mining
1:00:41
because as the price of Bitcoin goes up, maybe people feel that
1:00:45
they can't afford Bitcoin or whatever.
1:00:48
You know, there's like this huge miss in misinterpretation that
1:00:53
you have to buy a whole entire Bitcoin.
1:00:55
They're like, oh, I'm going to get into mining instead.
1:00:57
Does that mean that like maybe more people get into it and that
1:01:01
will increase the hash rate or something like like why is the
1:01:06
hash rate going up as the price is going?
1:01:09
Up who wouldn't This this is what chief chef Tommy just said.
1:01:12
Incentives motivate miners. Price is determined by the
1:01:16
buying. So as the price goes up, more
1:01:18
people do kind of enter the mining space because of course
1:01:21
they get Bitcoin quote UN quote cheaper.
1:01:24
Will it incentivize new people to come into the mining space
1:01:30
thinking they could get a better, better return?
1:01:33
Yes, That's usually what happens historically.
1:01:35
But I think what we're seeing right now is kind of similar to
1:01:38
what we're seeing with the Bitcoin treasury strategies.
1:01:40
Like if you're not a big guy right now, if you don't have,
1:01:44
you know, thousands or 10s of thousands of ASICS to put on and
1:01:47
deploy with like extremely low energy costs.
1:01:51
And I'm talking like sub 2 cent, you know, per kilowatt energy,
1:01:56
yeah, like basically free energy right now.
1:01:59
Like I don't think you're going to be able to compete with these
1:02:02
these big mining operations. Now, that doesn't mean that you
1:02:06
there aren't reasons to do Bitcoin mining and the main 1 is
1:02:11
probably, you know, get some KYC free Bitcoin here and and you do
1:02:15
get it at a lower price. But if you are coming into the
1:02:19
space and you think you're going to, you know, deploy 10s of
1:02:21
thousands of ASICS and you're going to get this so much
1:02:24
Bitcoin at a cheaper price like you might, you might be kind of
1:02:29
in for a rude awakening here. I had a lot of friends in 2017,
1:02:33
20/18/2020 that they did that exact thing and most of them got
1:02:39
wrecked. And so, you know, if you want to
1:02:43
buy an ASIC, add to, you know, the quote decentralization of
1:02:46
the network, then you can deploy something with like SAS mining.
1:02:49
If you want some KYC free SAS, again, you can deploy something
1:02:53
with SAS mining. Or if you just want a kind of a
1:02:56
science experiment at home and, you know, break out a a tube
1:03:00
through your house and, you know, exhaust some air and do
1:03:04
some electrical engineering. Yeah, Sophie was there when Nico
1:03:07
was doing that. Then you can do that.
1:03:09
But if you think you're going to deploy your own mining farm from
1:03:13
literally zero to 1, I I probably wouldn't recommend
1:03:17
doing that guys, just buy Bitcoin straight.
1:03:19
But what it shows is there is a lot of interest in Bitcoin as a
1:03:25
secure long term thing. And so the more the hash rate
1:03:28
goes up, the more you can kind of say like the infrastructure
1:03:31
around Bitcoin is being invested more into.
1:03:35
And with that comes that like this industry grows and the
1:03:39
price is going to start ripping. So maybe in the chat, does hash
1:03:42
rate follow price? Does price follow hash rate?
1:03:45
What's your thoughts? And then we'll wrap up today's
1:03:47
show. I know we got a little nerdy at
1:03:49
the end. Here, look, I think, I think
1:03:51
instead of graphs touching each other, we should all go touch
1:03:55
some grass. And what better way to do that
1:04:00
than getting on the Orange Blue app and connecting with all of
1:04:03
your favorite bitcoiners? If you're not on the Orange Pill
1:04:07
app today, I think you should totally download it.
1:04:10
Because who wants to be friends with normies nowadays?
1:04:13
You want to be friends with the like minded individuals, people
1:04:15
who are stacking sats. So go stack some friends like
1:04:20
you stack your sats on the Orange pill app.
1:04:22
It's just such a pro, such a pro.
1:04:26
Price follows hash rate yes, everyone knows.
1:04:29
Everyone knows it. Price follows hash rate.
1:04:31
All right, case closed. Ron P said it in the chat.
1:04:34
All righty then guys, that was the show for today.
1:04:37
It was a good RIP. Shouts out to Sophie.
1:04:40
She's absolutely killing it. Actually, actually, you guys in
1:04:45
the chat kept saying Sophie needs her own show.
1:04:47
Guys, she has her own show. While we're working on the
1:04:52
branding around her own show. She's going to be a regular
1:04:55
content creator on our channel. She's going to be doing her own
1:04:58
show soon. But today she is filling in for
1:05:01
Ruston. So there will be a Sophie video
1:05:03
dropped, I believe in a few hours, probably around like 6-7
1:05:07
PM Eastern Time. So if you love Sophie, make sure
1:05:12
you check it out on our channel. And we're working on, like Opti
1:05:16
said, my own show, we're working on the branding.
1:05:19
So just be patient with us for a little bit because you know, we
1:05:22
don't want to scare off our male audience.
1:05:25
It, it is 93.7% of you after all.
1:05:29
So don't want to make it too girly, don't want to make it a
1:05:33
little weird for you guys to, to, to watch.
1:05:36
So if you want to help me out, send my videos to your wives,
1:05:41
ask them what they think and you know, see if it resonates with
1:05:45
them. And if not, you know, I'll just,
1:05:47
I'll keep chilling to all you men, which is cool with me.
1:05:54
They say you need to go back into the closet, Sophie.
1:05:56
They love the Sophie shows in the closet.
1:05:58
No, no, we don't go back in the closet.
1:06:01
We go back to the kitchen. All right, you then I fully
1:06:07
endorse this. But that's where we got to go.
1:06:08
That's where we have to end today's show.
1:06:12
Love you guys. We will be back tomorrow.
1:06:14
So as I told you in the beginning of the show, of course
1:06:16
Sophie's here with me today. Talking about when I did the
1:06:19
closet. Yeah, yeah, the old day, The old
1:06:23
day I forgot. About that, see I was trying to
1:06:25
make like a nerdy trad wife joke but like I love the closet days.
1:06:31
Unfortunately I think the closet days might be over, but we have
1:06:33
something better in store for you guys.
1:06:36
So just wait. Just wait.
1:06:39
Definitely soon, yeah, like I was saying.
1:06:42
So of course Sophie's here today, Nico, literally right
1:06:45
when the show started, he left to get on a plane.
1:06:47
He's going to Riga. I believe that's the Honey
1:06:50
Badger conference. But he will be back tomorrow and
1:06:54
he will do the show. Normally.
1:06:56
He's going to, you know, zoom in from his hotel room in Riga.
1:07:02
But of course, the show goes on with or without me or Nico here,
1:07:07
so you know it. It is what it is.
1:07:09
It is what it is. They they allowed me to do it by
1:07:12
myself. The time that you guys were at
1:07:14
the. National and and you guys loved
1:07:15
it and it did a great, it did a great number.
1:07:17
Good. So it the show will go on, I
1:07:20
promise. The show goes on.
1:07:21
Not not exactly at 12:15, but you know, sometimes.
1:07:24
Yeah, yeah, 12:30. 1215 ish 12. Yeah, something like that.
1:07:29
Anyways, guys, we appreciate you.
1:07:31
We love you. Of course, as Sophie was saying,
1:07:33
the whole show. Smash like button, Subscribe, We
1:07:36
love you. We'll be back tomorrow.
1:07:37
And share the video with your. Friends, Seriously.
1:07:42
It's like the best thing that you can do to help us out with
1:07:45
the YouTube algorithms is sending this to everybody, you
1:07:48
know. Let's go.
1:07:50
All right, guys, We'll see you tomorrow.
1:07:53
Eat some good food, call your loved ones, go get some sun.
1:07:56
Touch some grass grounding very important for inflammation and
1:08:02
mitochondrial flush all. Right.
1:08:05
Later, guys. Bye.
1:08:06
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