Latest / Simply Bitcoin / Coinbase EXPOSES The US Plan To Buy 103,000 Bitcoin: BUY 0.1 NOW! | EP 1236

Transcript

Coinbase EXPOSES The US Plan To Buy 103,000 Bitcoin: BUY 0.1 NOW! | EP 1236 · Simply Bitcoin

• 0:00
  An insider from one of the world's largest exchanges just
• 0:04
  exposed America's plan to buy $100 billion worth of Bitcoin.
• 0:10
  The only bad news is, is there's only $250 billion of Bitcoin
• 0:14
  left on exchanges and Sailor just announced a new game
• 0:19
  changing $84 billion raise to buy more Bitcoin.
• 0:24
  And also today I got one of the most bullish content creators in
• 0:27
  the game who has been getting a lot of heat lately for why he
• 0:29
  thinks he can retire on .1 Bitcoin.
• 0:32
  So we'll be chatting about that throughout the episode.
• 0:34
  But Luke, let me bring him in. But Luke, before we go too far,
• 0:39
  can you just sum up the controversy before I play the
• 0:42
  coin, the Coinbase leak. So you have been getting a lot
• 0:45
  of leak or a lot of heat around this idea.
• 0:49
  Sum this up real quick and then we'll chat about this Coinbase
• 0:52
  clip. Yes, I've even got a lot of heat
• 0:55
  for saying and running the numbers for why I think 0.01
• 1:00
  Bitcoin. Oh wow, think of a Bitcoin could
• 1:03
  be enough to retire. And I think that's all just
• 1:05
  because a lot of people haven't run the numbers.
• 1:08
  So again, I've copped a lot of heat this week.
• 1:09
  So I've gone back to the drawing board.
• 1:11
  I've looked at the numbers, I've crunched some equations, and I'm
• 1:14
  going to be sharing with you guys three different simulations
• 1:18
  and assumptions and hypothetical thought experiments for why I do
• 1:23
  still truly believe that 0.01 Bitcoin is enough to retire.
• 1:27
  And I think it actually does relate to the most recent news
• 1:30
  we're going to be talking about today with this Coinbase Insider
• 1:35
  dropping a little bit of a bombshell in the Bitcoin space.
• 1:38
  Yeah, well, I guess I undersold it.
• 1:40
  I thought it was .1 Bitcoin, but he said again, clearly a million
• 1:45
  sads, absolutely crazy. So we're gonna be chatting about
• 1:48
  that all day. We'll leak it with the beginning
• 1:49
  of this this clip right here. And then we'll we'll kind of
• 1:52
  expand it a little more during the culture.
• 1:54
  But here we go. Here's the clip you're waiting
• 1:55
  for. Let's run it.
• 1:57
  So today based because of law, the US government still values
• 2:01
  gold it that it holds in Fort Knox at $42.00 and change right
• 2:07
  now if they were to just mark that to market.
• 2:11
  So it's worth probably an incremental 900 to and I heard a
• 2:16
  billion to a trillion dollars right now.
• 2:19
  If you look in the public press on Twitter, most people suspect
• 2:23
  it will revalue it and then sell some gold to maybe go, maybe go
• 2:29
  buy some Bitcoin. We don't think that that's the
• 2:32
  most likely case. We believe it's most likely that
• 2:35
  at some point, it could be this year, they will go and change it
• 2:39
  such that they will revalue gold to current market prices.
• 2:44
  That would create a mark to market gain of $900 billion,
• 2:48
  right. And if you look at, I think the
• 2:50
  Senator Lummus bill was calling for buying, I think it's a
• 2:54
  million Bitcoin over five years. Well, that's that's $100 billion
• 3:00
  if you have the math right. So our, our back of the envelope
• 3:03
  is that when the create, when the revaluation occurs that
• 3:08
  creates a $900 billion couldn't tell you is market price mark to
• 3:13
  market gain, which then is money that the Treasury could then
• 3:19
  take. And then the Treasury would be
• 3:22
  able to use that money in the sovereign wealth fund in a
• 3:25
  budget neutral manner to go and buy a variety of things we think
• 3:30
  probably including Bitcoin. And just for just to think about
• 3:33
  the math, $100 billion of of 900 billion is not, doesn't sound
• 3:37
  like that much, but the asset is about $1.8 trillion asset.
• 3:42
  And if we go from no longer selling right, which we just
• 3:47
  did, to here's a way by which we can actually take on a
• 3:50
  meaningful position, it's hard to see a situation where other
• 3:55
  governments don't feel compelled in some way to to measure up.
• 3:59
  And then you have this arms race, as it were I.
• 4:03
  Don't know if it's an arms race but it it it.
• 4:08
  Absolutely. Interesting.
• 4:09
  I have not heard that take yet. And I I thought it obviously
• 4:14
  $100 billion buy from the US government would be huge.
• 4:17
  And as you can hear towards the end, it would be setting off
• 4:21
  this nation state game theory. Now I do want to talk about the
• 4:25
  multiplier effect in a minute Luke, because he was basically
• 4:28
  referencing that without actually saying it.
• 4:30
  But I do want to cover this Sailor story real quick.
• 4:33
  So yesterday, MicroStrategy AKA or Strategy AKA MicroStrategy,
• 4:38
  they had their quarterly earnings call and some huge,
• 4:42
  huge numbers came out of it. So Strategy announces a BTC
• 4:47
  yield of 13.7% and Bitcoin dollar gain of $5.8 billion year
• 4:52
  to date. And this is the crazy part and
• 4:55
  double S capital plan to $42 billion of equity and $42
• 4:59
  billion of fixed income to purchase Bitcoin and increases
• 5:03
  BTC yield target from 15% to 25% and Bitcoin dollar gain target
• 5:08
  from $10 billion to $15 billion. So Luke and I were kind of going
• 5:12
  back and forth earlier. It was like, does this mean $84
• 5:16
  billion buy of Bitcoin as Luke? It's been, you know, very, I
• 5:21
  would say infamous for saying lately, he's also in probably
• 5:25
  the next biggest, you know, controversy on Twitter right
• 5:28
  now, which is the whole Bitcoin on exchange.
• 5:31
  It's meme that is, you know, playing out right now.
• 5:34
  So before we chat about this, I didn't see this good tweet here.
• 5:38
  This guy's actually been kind of killing it.
• 5:39
  I it came out of nowhere personally, but he he's been
• 5:43
  doing some really good tweets on Twitter.
• 5:45
  Adam Livingston and he goes Michael Saylor declares $84
• 5:49
  billion monetary conquest. He goes strategy isn't playing
• 5:53
  our your quarterly EPS clown game.
• 5:55
  Sailor is reprogramming the monetary operating system of
• 5:59
  Earth using a $42 billion equity plus $42 billion fixed income
• 6:03
  rail gun to vaporize Fiat and funnel it directly into Bitcoin.
• 6:08
  This is a geopolitical time weapon.
• 6:12
  Now I, I think I just like this framing here.
• 6:15
  You know, it's it's very poetic, but as we've been talking about,
• 6:19
  you know, we're seeing that Jack Mahler just came out with 21
• 6:22
  Capital. We're seeing that Michael Saylor
• 6:26
  is like frantically trying to buy more and more Bitcoin.
• 6:30
  And now we're getting, you know, I would say some credible
• 6:33
  rumors. Remember, Coinbase is basically
• 6:35
  the custody for every one of these ETFs and all the big
• 6:37
  holders. So some credible leaks are
• 6:40
  insider rumors that this is most likely the avenue and route that
• 6:46
  the US government would used to buy Bitcoin.
• 6:48
  And I actually have a a new clip this morning coming out of
• 6:51
  Senator Lummis that I'll play in the numbers soon.
• 6:54
  The TLDR is out. At what point does the price
• 6:58
  start ripping? Because there's not that much
• 7:00
  Bitcoin period. We, we did the, we did the, the,
• 7:03
  the numbers yesterday we ran the numbers.
• 7:05
  There's about, you know what, what was it like 1.2 million
• 7:09
  Bitcoin left for the next, you know, 100 years plus.
• 7:12
  And it does look like it's the Bitcoin on exchanges is going
• 7:16
  down. Now, I'm not the biggest
• 7:18
  proponent of Bitcoin on exchange mean because I I think there
• 7:21
  will always be a seller of Bitcoin at any price.
• 7:23
  But we are seeing that the exchanges are getting depleted
• 7:26
  and it begs the question and who is buying this Bitcoin, or
• 7:29
  rather what is where this is this Bitcoin going?
• 7:32
  Is it getting funneled into, you know, corporate treasuries is
• 7:35
  getting funneled into ETFs? Where is the Bitcoin going
• 7:38
  currently? Where is the capital sloshing
• 7:41
  around to? But the point remains the same
• 7:44
  when you get a fixed supply monetary asset like Bitcoin and
• 7:50
  it meets incredible demand, at some point it has to RIP even if
• 7:54
  there is quote UN quote paper Bitcoin in the arena.
• 7:57
  So things are getting interesting And and we're also,
• 8:00
  you know, the price. The price is responding pretty
• 8:02
  good today. We we got up to like 97.
• 8:05
  It seems like, as we've been saying for a minute, Bitcoin is
• 8:08
  about to explode. So we're starting to get frothy
• 8:11
  here. We're starting to get excited.
• 8:12
  I know everyone says the price doesn't matter.
• 8:14
  Guys, we we all love the. Price.
• 8:16
  Let's just be honest here, you everyone loves the price.
• 8:19
  This is how we get more people. Into Bitcoin anyways.
• 8:21
  I've been. I've been.
• 8:21
  Rambling a little a. Little too much.
• 8:23
  So Luke, let's go with let's talk about the multiplier effect
• 8:29
  Bitcoin on exchanges and then if you want to do a short RIP on,
• 8:33
  you know, retire on Bitcoin or how much Bitcoin is actually
• 8:36
  going to be, let's go there. So your, your, the arena's yours
• 8:42
  now, your podium. Yeah.
• 8:43
  So we're going to get to, let's actually talk about how much
• 8:46
  Bitcoin I truly think you need to retire maybe a little bit
• 8:50
  later on in the show because people are probably going to
• 8:52
  think I'm nuts when I reveal those numbers.
• 8:54
  Yeah. Yeah, the numbers you told me
• 8:55
  this morning, I'm like you're tripping and.
• 8:58
  These numbers will make more sense when we play hypothetical
• 9:01
  thought experiments like we're going to play today.
• 9:04
  So again, what is the multiplier effect?
• 9:06
  Well, the multiplier effect just shows that for every $1.00 that
• 9:10
  wants to flow into Bitcoin, it actually pushes the market cap
• 9:13
  of Bitcoin point up by a multiple OK, $1.00 in does not
• 9:17
  equal $1.00 of market cap increase.
• 9:19
  And that's because Bitcoin is very rare.
• 9:22
  Bitcoin is very scarce and not all 21 million Bitcoin are
• 9:25
  available for sale. So today there's about 2.5
• 9:29
  million Bitcoin on exchanges and the liquid and highly liquid
• 9:33
  supply of Bitcoin is somewhere around 3 1/2 to 4 million
• 9:36
  Bitcoin. These are the coins that have
• 9:38
  moved in the past six months through all of bitcoins
• 9:41
  volatility and these are the Bitcoin actually available for
• 9:44
  sale. So it's really about 15 to 20%
• 9:47
  of bitcoins entire 21 million supply is actually available for
• 9:52
  sale. And This is why we have a
• 9:53
  multiplier effect. And today that is at an all time
• 9:56
  high that's at about 5.8 X never been higher in bitcoins life.
• 10:01
  So for every $1.00 that wants to flow into Bitcoin, this pushes
• 10:05
  the multiplier effect up. Today it's at 6X, so for every
• 10:09
  $1.00 in Bitcoin sees a 6X increase in its market cap.
• 10:13
  So that's what the multiplier effect is.
• 10:16
  And it's a pretty basic premise. The less Bitcoin there is
• 10:20
  available for sale and the less Bitcoin there is available on
• 10:24
  exchanges, the higher this multiplier effect is going to
• 10:27
  rise. And this isn't just theory.
• 10:29
  I know a lot of people say, oh these are just hypothetical
• 10:32
  thought experiments of a 28 year old loser with a really bad
• 10:34
  haircut. No, it's just look at the fact
• 10:37
  and the maths. Later we're going to show you
• 10:38
  the the chart of the multiplier effect and you can see since
• 10:42
  2020, since the year I think something fundamentally changed
• 10:46
  in Bitcoin since we saw coins begin leaving the exchanges for
• 10:51
  the first time in Bitcoins life for five straight years, the
• 10:53
  multiplier effect has hit new all time highs nearly every
• 10:57
  year. So it hit its highest level ever
• 10:59
  in the 2021 bull market of about 4.5 X and then again a couple of
• 11:04
  years later in this bull run, it's now hit a new all time high
• 11:07
  of 5.8 X. Pre 2020, it never got above 3X.
• 11:12
  So again, we are seeing right now the supply suffocation, it's
• 11:16
  been going on for five years. It is triggering the multiplier
• 11:20
  effect to hit new all time high levels that we've never seen
• 11:23
  before. And even right now I feel a
• 11:27
  little bit of a sense of urgency because right now there is what
• 11:30
  200, two $150 billion of Bitcoin on exchanges.
• 11:34
  And in the past 24 hours alone, Michael Saylor has announced
• 11:40
  another $84 billion Bitcoin buy and coin base.
• 11:45
  As we heard from that clip, they're kind of saying, hey,
• 11:47
  America could in a budget neutral way by $100 billion
• 11:52
  worth of Bitcoins. So quick maths tells me that's
• 11:54
  $180 billion worth of demand for Bitcoin and there's only $250
• 12:00
  billion worth of Bitcoin on exchanges.
• 12:03
  And what you have to remember is as this buying continues, price
• 12:07
  is going to go up. So that means, you know, there's
• 12:11
  not $250 billion of Bitcoin on exchanges.
• 12:14
  This is kind of, it's going to create a little bit of a
• 12:16
  flywheel. And I think we're going to see
• 12:18
  an acceleration in this supply suffocation.
• 12:21
  And again, something that's really interesting, when Sailor
• 12:23
  came out six months ago with his plan to buy $42 billion worth of
• 12:28
  Bitcoin, firstly, most people thought he was crazy.
• 12:31
  Most people said he's never going to do this.
• 12:33
  And when this first came out, it was supposed to be a three-year
• 12:37
  plan. Michael bought those $42 billion
• 12:40
  worth of Bitcoin in about 3 months, not three years.
• 12:43
  So now he's saying look $84 billion buy how long is this
• 12:48
  going to take? I don't know, but if I was a
• 12:50
  Betty man, it's probably three to six months.
• 12:53
  If he accumulates at the same pace over the past three to four
• 12:57
  to five months, he'll be finished this by in about six to
• 13:00
  seven months. So that'll be before the end of
• 13:02
  the year. And we also know America is not
• 13:07
  mucking around America again. They're talking about creating a
• 13:11
  sovereign wealth fund right now for the country.
• 13:14
  Everybody I saw on Twitter this morning, Trump is supposedly
• 13:18
  supporting Senator Lummus's plan.
• 13:21
  Yeah, we're going to play that clip for everyone.
• 13:23
  Oh, we got the clip. We won't reveal the clip yet,
• 13:25
  but I'm essentially feeling tinglings in all parts of my
• 13:29
  body. And I do think like there is a
• 13:31
  little bit of urgency here with what I think we're seeing play
• 13:35
  up. Pause.
• 13:39
  I was going to say it's a family friendly show.
• 13:40
  Luke, you got to chill out a little bit.
• 13:42
  But yes, I'm also feeling my oracles tell me that the price
• 13:45
  is about the pump. That one thing you did say that
• 13:48
  I think it's very interesting and we were I I forget when we
• 13:51
  were talking about it. Maybe it was sometime this week
• 13:53
  or last week, but the idea of like there's, there's always
• 13:58
  this sense of urgency when you get into Bitcoin, like right
• 14:02
  when you, right when it clicks, you're like, holy cow, I need to
• 14:08
  buy as much Bitcoin as possible. And I think Sailor, he's been in
• 14:12
  the game for what four years now?
• 14:15
  He's obviously like the biggest whale.
• 14:16
  Everyone's wondering what he's doing with that Bitcoin, but you
• 14:19
  can tell that maybe it's because of 21 capital announcement, Jack
• 14:23
  Muller's and Cantor Fitzgerald announcement that even he's
• 14:26
  feeling the sense of urgency where he's like, yo, I need to
• 14:30
  acquire as much Bitcoin as possible right now.
• 14:32
  Because, you know, as we always say, once it gets above 100K, we
• 14:36
  may not never see these prices again.
• 14:38
  And I think there's a perfect segue to get into the shell the,
• 14:42
  the take away here guys. And, and we're going to chat
• 14:44
  about all of this in the culture segment at the end of the show
• 14:47
  about, you know, Luke's ridiculous predictions.
• 14:50
  You should have a sense of sense of urgency right now.
• 14:52
  You should be wanting to acquire as much Bitcoin as possible.
• 14:55
  Because I, I'm also feeling like once it's, once it rips, it's,
• 14:59
  it's going to be an incredible, incredible RIP.
• 15:02
  So it's, it seems to be on upon us.
• 15:04
  Anyways, Luke, you want to chime in real quick?
• 15:06
  Yeah. Just quickly on that Jack
• 15:08
  Marla's news, they came out and they said, look, we want to
• 15:12
  launch with 42,000 Bitcoin. Obviously you got a few
• 15:16
  different companies putting Bitcoin in a pool and a bucket,
• 15:19
  But what I think is really interesting is they're openly
• 15:22
  saying they want to be a micro strategy competitor.
• 15:25
  They want to buy more Bitcoin than Michael Saylor.
• 15:28
  They want to buy as much Bitcoin as possible.
• 15:30
  And again, just think about the connections.
• 15:32
  We were kind of talking about the connections the other day on
• 15:35
  one of these live streams. But these are not players who
• 15:38
  laughed at. These are serious players.
• 15:40
  They're backed by Tether again, They're, what, a top 15 U.S.
• 15:44
  Treasury holder in the entire world.
• 15:47
  Teba is a part of this new Bitcoin treasury acquisition
• 15:50
  company. You got Jack Marliss, the man
• 15:53
  who was instrumental in helping with the El Salvador adoption of
• 15:56
  Bitcoin and creating Strike, one of the biggest Bitcoin companies
• 15:59
  in the world. And you've got Cantor
• 16:02
  Fitzgerald, the man in charge of creating America's sovereign
• 16:06
  wealth fund. Those three guys are coming
• 16:09
  together, these three parties, and they're creating a vehicle
• 16:13
  that is supposedly going to compete with MicroStrategy, who
• 16:16
  today nearly holds 600,000 Bitcoin.
• 16:20
  They're closing in on 3% of the total supplier.
• 16:22
  What happens if you have an? Oh, we lost Luke.
• 16:29
  All right, all right, I'll try to get him back in on that note,
• 16:34
  guys, let's let's keep it going. Let's keep, let's keep ripping.
• 16:37
  Of course, guys, before we move on.
• 16:39
  Oh, here he is. He's back.
• 16:42
  What's going on bro? I think the bullish calculations
• 16:46
  we're running today off the, they were just too bullish my
• 16:50
  Google Chrome. Browser all right all right
• 16:52
  well, let's just keep it moving and we'll we'll chat more about
• 16:55
  this in the culture guys and again, just want to remind you
• 16:57
  guys smash the like button hit the subscribe button, you know
• 17:01
  comment on the video. It really does help push us in
• 17:03
  the algo to spread the Bitcoin signal.
• 17:07
  And of course, before we move on, we want to give a huge shout
• 17:11
  out to our boys over at bitcoinwell.com.
• 17:13
  Go to bitcoinwell.com/simply BTC and sign up for Bitcoin.
• 17:19
  Well, it is the best Bitcoin only exchange possible because
• 17:23
  it is self custody by default, which literally means they can
• 17:27
  never rug pull you ever. As we've seen in the history of
• 17:30
  Bitcoin, there's been a lot of cases where exchanges claim to
• 17:34
  have the Bitcoin that you bought from them, but they did and they
• 17:39
  went under. Well, they never hold your
• 17:41
  Bitcoin. Once your payment goes through,
• 17:42
  it goes directly into your cold storage.
• 17:44
  So make sure you go to bitcoinwell.com, use the promo
• 17:48
  code simply BTC and you can win. You get three chances to talk to
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  win 1,000,000 sets. And on that note, let's go to
• 17:56
  the wishing well. When you get in there, you just
• 17:58
  come in here and your reward points pull out your lightning
• 18:01
  wallets first come, first serve. Let's see can we get a million
• 18:04
  stats live on the show? That would be crazy That would
• 18:07
  be retiring money. Retiring money.
• 18:10
  Okay, 561 stats first come first serve on that note guys we got a
• 18:14
  jam packed show. So as Luke kind of previewed, we
• 18:18
  have a clip right out of this morning, Senator Lum is talking
• 18:22
  about Trump and of course, the acquiring of Bitcoin.
• 18:25
  And then we have an interesting story coming out of BlackRock
• 18:28
  from some token 2049 conference where the Bitcoin memes are
• 18:32
  getting out there, guys, the decoupling might be upon us.
• 18:36
  It's if you beam it, it will happen.
• 18:38
  And it looks like BlackRock is literally taking Bitcoin memes
• 18:41
  now. So interesting stuff.
• 18:43
  On that note again, let's just dive into the show.
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  today. Hi guys yeah Chad's killing me
• 20:23
  today yeah guys, hey I can only take so much trolling when I'm
• 20:28
  trying to handle the handle the mothership here guys I'm getting
• 20:31
  roasted right now all right anyways, I'm over here on Clark
• 20:35
  bunny's dashboard going over the Bitcoin numbers of course the
• 20:39
  current Bitcoin price is $97,560.00.
• 20:42
  I don't know if you guys are, you know, TA boys chart trading
• 20:45
  out there, but it seems like we're, we're back to a pretty
• 20:48
  good, you know, support level. So I'm very interested to see if
• 20:52
  we can make an attempt to 103 K by the end of the month.
• 20:56
  Anyways, the SAT per dollar, AKA how much the dollar is worth in
• 20:59
  Bitcoin, AKA how much Bitcoin you can buy for a single dollar
• 21:01
  is currently at 1025 SAT. The current block height is
• 21:05
  894,919 and the market cap, we are almost back at $2 trillion.
• 21:10
  Market cap, it's currently at 1.94 trillion.
• 21:13
  And the Bitcoin versus gold market cap, again, we are
• 21:15
  inching back towards a 10% of the gold market cap currently at
• 21:18
  8.5. And the total percentage of
• 21:20
  Bitcoin that will ever be issued, I repeat, the total
• 21:22
  percentage of Bitcoin that I will that will ever be issued is
• 21:24
  currently at 94.56%. So if you were trying to Fact
• 21:28
  Check us yesterday, there's roughly what you know, 5.4
• 21:34
  something percent of total Bitcoin supply left.
• 21:38
  The current money supply or Bitcoin in circulation is around
• 21:41
  19.85 million. Bitcoin in the realized monetary
• 21:44
  inflation, taking Fiat currencies at school is
• 21:47
  currently at .84%. OK, so as I was saying, we got a
• 21:51
  new clip this morning and I actually was going to put a
• 21:54
  different clip on there. There was an interesting clip
• 21:56
  going around of CNN kind of fighting Big Wolf, kind of
• 22:00
  fighting Trump in regards to Bitcoin and the importance of
• 22:03
  Bitcoin or crypto voters in the election.
• 22:06
  And but then this dropped this morning and I thought this would
• 22:09
  be a perfect, perfect segue from the topic in the beginning.
• 22:13
  So we have Senator Lummis this morning basically saying that
• 22:17
  Donald Trump seems to be backing her plan to buy a million
• 22:21
  Bitcoin. So let's watch it.
• 22:24
  I'm particularly pleased with President Trump's support of my
• 22:28
  strategic Bitcoin Reserve initiative, which will address
• 22:32
  our national debt while securing America's position as the global
• 22:38
  leader in financial innovation. As Bitcoin comes into more
• 22:44
  usage, its use makes the whole system more secure, more robust,
• 22:50
  and more capable of serving our needs all over the world.
• 22:54
  We should be the global leader with this fantastic new Ledger
• 23:01
  based asset that is in a digital format that is going to be
• 23:06
  transformative of everyday economy and puts the everyday
• 23:10
  American, in fact the everyday worker all over the world in
• 23:14
  control of their own money. What a wonderful blessing for
• 23:20
  hard working people all over the world to have this great new
• 23:24
  technology and to have America lead the way in implementing
• 23:28
  this wonderful. Interesting.
• 23:33
  So confirmation here that this isn't just talk.
• 23:38
  I know a lot of people been saying ever since Trump got
• 23:40
  elected, actually, we're probably at what like we just
• 23:43
  passed 100 days of, of the new Trump presidency and you know,
• 23:48
  in regards to Bitcoin or, you know, crypto, they follow
• 23:52
  through with a lot of what they're talking about.
• 23:54
  Obviously, there's still no follow through on actually
• 23:57
  acquiring Bitcoin through this SPR, but it seems like Trump is
• 24:02
  either interested in it or he's fully backing the idea now.
• 24:06
  Of course, it has to actually get passed and and that'll be
• 24:09
  another another hurdle that we have to cross.
• 24:12
  But it is interesting to see not only is Trump the man himself
• 24:16
  very bullish on Bitcoin, but we've seen the whole Trump
• 24:19
  family be extremely bullish on Bitcoin.
• 24:21
  And I don't think that that's just a passing fad.
• 24:24
  Like, I think that they are getting swept up and maybe you
• 24:27
  could say that, you know, crypto mania, but I think if any family
• 24:33
  would understand Bitcoin, it would be the Trump family,
• 24:35
  considering all of the law fair that they had to deal with
• 24:39
  getting debanked, etcetera, etcetera, etcetera.
• 24:41
  And you know, even though they do have the, the stain of the,
• 24:45
  the Trump coin here, it's, it looks like they, they, you know,
• 24:50
  came out like a bandit through it.
• 24:51
  So of course they're getting caught up in it now.
• 24:54
  I really want to see them follow through on more Bitcoin pro
• 24:58
  Bitcoin only policies. Of course, I'm I'm still kind of
• 25:02
  on the fence of them actually, you know, acquiring the Bitcoin
• 25:04
  in the SBR. But I guess as long as they're I
• 25:08
  don't know. I'm conflicted because I do like
• 25:11
  the meme. Hey, if a government sells your
• 25:12
  Bitcoin, that's the true separation of money and state.
• 25:15
  So part of me is like I. Don't know if I.
• 25:17
  Want them to buy Bitcoin because I'm I'm not here to continue the
• 25:21
  you know Fiat dominance around the world like I'm here to
• 25:24
  propagate Bitcoin, but with them coming in Bitcoin and making
• 25:30
  this huge announcement like it would be a complete game
• 25:32
  changer. If they announce what tomorrow
• 25:34
  or by end of year or something it actually has to probably
• 25:37
  happen sooner than later because the midterms are in about you
• 25:39
  know a year and a half away or a little more than a year and a
• 25:42
  half and we know then they're not going to do anything crazy
• 25:45
  because they're you know they're trying to get re elected here.
• 25:48
  But if they announce this soon, I think that would be huge for
• 25:53
  the geopolitical game theory here, like having the stamp of
• 25:56
  approval of the United States, the most powerful financial
• 25:58
  house in the world, or financial economy in the world.
• 26:01
  That is a huge signal to people of you need to buy Bitcoin, you
• 26:04
  need to get off 0, you need to acquire Bitcoin.
• 26:06
  At the very least you need to try to understand Bitcoin.
• 26:09
  And this is where we are. Yes, a lot of Bitcoin purists
• 26:12
  are like you guys keep talking about, you know, banks buying
• 26:14
  Bitcoin or the nation state buying Bitcoin, bro.
• 26:17
  Like I thought this is a separation of money and state.
• 26:20
  Guys, we can't stop this. As Lynn Alden always says, there
• 26:24
  is no stopping this train. People are incentivized to
• 26:27
  understand Bitcoin and once you get it, once you grok it, you
• 26:31
  want to buy as much Bitcoin as possible.
• 26:32
  They're just like us just on, you know, financial steroids
• 26:35
  here. So hey, this is where we are.
• 26:37
  If this follows through, as Lummus was saying and Trump
• 26:40
  really wants to back this acquiring of a million Bitcoin,
• 26:43
  obviously that's going to be way more self or buy pressure than
• 26:47
  we even have here. That won't even probably be able
• 26:50
  to get to 1,000,000 and Bitcoin, but hey, it's going to mean our,
• 26:54
  our, our bags get pumped. I don't know, are are we, are
• 26:56
  we, are we OK with being the new Nancy Pelosi's or you know
• 27:02
  what's, what's, what's going on here?
• 27:03
  I don't know. Luke, what's your thoughts on
• 27:05
  this clip from Senator Lummus? You make a good point.
• 27:08
  Will they be able to even get to the million Bitcoin?
• 27:11
  That's my big question. I think they're gonna really
• 27:14
  struggle to get to 1,000,000 Bitcoin.
• 27:16
  But again, even if there's any sort of announcement of 100,000
• 27:21
  Bitcoin buy, a 200,000 Bitcoin buy or a million Bitcoin buy,
• 27:26
  this is gonna just, it's going to really send FOMO to the next
• 27:29
  level. We've been talking about it for
• 27:30
  a long time. And when it finally happens, I
• 27:32
  think it's going to happen a lot quicker than most people think.
• 27:35
  I think a lot of people are caught off side today in 2025.
• 27:40
  I think a lot of people are being lulled into the narrative
• 27:43
  that hyper bitcoinization is going to be a 10/15/20 thirty
• 27:49
  year project. It's going to be very long.
• 27:51
  We're going to have a lot of time to prepare.
• 27:54
  I think a lot of people think they can multiply their bitcoins
• 27:57
  by trading these cycles and, you know, selling Bitcoin at 150 or
• 28:02
  200,000 and rebind at 110,000 because some physicists drew
• 28:07
  some fancy lines on a chart. And this is going to happen
• 28:09
  because maths and science and I just think a lot of people are
• 28:12
  going to get absolutely blowing out of the water.
• 28:15
  I think a lot of people are going to sell their Bitcoin way
• 28:18
  too soon, way too early. People are going to fumble the
• 28:21
  ball. They're going to let us hand
• 28:23
  their generational wealth and they're going to wish they held
• 28:26
  their Bitcoin for a lot longer than they actually did.
• 28:29
  So again, I think all of this is accelerating.
• 28:32
  I, again, it's crazy, Michael, say we're buying another $84
• 28:36
  billion worth of Bitcoin. I can't believe more people are
• 28:40
  not talking about this. I haven't dived into the nitty
• 28:43
  and the gritty of the details, but if I had to guess, it's
• 28:46
  probably going to happen much quicker than the advertised, you
• 28:49
  know, time frame that Michael is publicly putting out there.
• 28:53
  So yeah, I'm incredibly bullish and I'm really excited to see
• 28:56
  what happens next here after you.
• 28:59
  Yeah, well, you, you just reminded me of something.
• 29:01
  So I'm over here on Perplexity. I'm kind of running the numbers
• 29:05
  and you and you guys could Fact Check me here.
• 29:07
  I'm, you know, I'm using an AI browser really quick and I
• 29:09
  usually Fact Check them, but I, I'm, I got enough to kind of,
• 29:13
  you know, make this point. So I'm over here on Perplexity
• 29:16
  and I just asked how much has sailors spent buying Bitcoin?
• 29:19
  And apparently the result so far is Michael Saylor through his
• 29:23
  company strategy has spent approximately $36.47 billion
• 29:30
  buying Bitcoin and he's acquired.
• 29:31
  I, I think this isn't fully updated because he just
• 29:33
  announced another one and now he's up at like I think 555,000
• 29:37
  Bitcoin. Anyways, the point remains, and
• 29:40
  this is the point that I was going to make.
• 29:42
  If he's able to, as Luke is saying.
• 29:45
  Deploy this $84 billion of capital.
• 29:49
  Then you know, quick maths here, it looks like sailors going to
• 29:52
  have a million coins like what's that going to do the if sailors
• 29:55
  able to double his total holdings of Bitcoin at strategy
• 30:00
  in a short period of time? I don't know guys, this does
• 30:04
  seem like rocket fuel and we may see these Omega candle, God
• 30:08
  candle, Godzilla candles, whatever you want to call them.
• 30:10
  Like if this is just insane math here, if this happens quickly,
• 30:15
  he's going to like there's not that much coin.
• 30:17
  How is he going to get another 500,000 coin in a very short
• 30:20
  time? Like he's going to have as much
• 30:22
  Bitcoin in his company treasury as all of the ETFs do on Wall
• 30:27
  Street. Like this stuff is insane.
• 30:29
  It literally blows your mind once you try to understand
• 30:32
  what's going on. Like he's going to spend what 1
• 30:34
  1/2 what he's already spent on this new spend to just acquire
• 30:37
  as much Bitcoin as possible. Like if that doesn't put on the
• 30:40
  FOMO and you feel like I need to get more, I don't know what
• 30:44
  does. Like Saylor already has, I guess
• 30:47
  I would argue maybe one of the biggest what?
• 30:50
  I think he's the biggest treasurer.
• 30:51
  He owns more Bitcoin than countries at this point.
• 30:54
  And he's like, wait, I'm not, I'm not done.
• 30:56
  Like he's out here like Jordan dunking from the freaking free
• 31:00
  throw line. Like I actually need to do 1 1/2
• 31:03
  times more buying a Bitcoin. It's like, what is going on here
• 31:07
  that this can't sustain this price level the way it is.
• 31:11
  It just, it makes no sense to me.
• 31:13
  It's gonna go nuts. Yeah, it's the scarcity angle.
• 31:16
  And This is why I think a lot of people are not as bullish as I
• 31:22
  hope they are. And I hope by the end of today's
• 31:24
  show we're gonna get to the numbers showing you guys just
• 31:27
  how much Bitcoin I think you need to retire.
• 31:29
  But when you really run the numbers and you look at the
• 31:31
  scarcity side of things, that's where I think a lot of people
• 31:35
  aren't prepared for what happens next.
• 31:36
  Like you say, sailors got 550, nearly 600,000 coins right now.
• 31:41
  And he's that again, that's cool, that's great.
• 31:43
  Michael owns 3% of the supply. A lot of people be thinking, all
• 31:46
  right, who cares? There's a lot of whales in
• 31:47
  Bitcoin. But the really interesting part
• 31:49
  about this is he's openly saying he's not going to sell for 100
• 31:53
  years. That's the seed I want to plant
• 31:56
  in people's minds for the culture section of today's live
• 31:59
  stream. Because if he wants to by
• 32:02
  another $84 billion of Bitcoin, let's assume he gets to a
• 32:06
  million Bitcoin. And as our good friend of the
• 32:09
  show Satellite says in the chat, BlackRock also has a lot of
• 32:13
  Bitcoin. If these entities aren't selling
• 32:15
  their Bitcoin for a long amount of time, all of a sudden, what
• 32:19
  does that mean? Like, we know somewhere around 4
• 32:22
  to 5 million Bitcoin are lost forever.
• 32:25
  If Sailor gets to a million Bitcoin, it's not a stretch.
• 32:28
  He's not that far away right now.
• 32:30
  That's all of a sudden another million Bitcoin that if we take
• 32:33
  Sailor at his word again, hypothetical assumptions, never
• 32:37
  trust Aceo, never trust a politician.
• 32:39
  I get it. I'm very, I'm a very distrusting
• 32:41
  person. But if we trust Sailor and he's
• 32:43
  never going to sell his Bitcoin for 100 years and the ETFs
• 32:46
  continue buying Bitcoin and then we have companies like 21 trying
• 32:50
  to compete with Sailor and they're probably also not going
• 32:53
  to be selling their Bitcoin all of a sudden.
• 32:55
  You've got to really start thinking, hang on a minute, how
• 32:57
  much so that 21 million Bitcoin is actually available for sale
• 33:01
  and he's actually going to circulate on a daily basis.
• 33:05
  That's the question I just want to let people Stew on for the
• 33:07
  next 20 or 30 minutes here of the before we start really
• 33:10
  running some numbers because I just think people just aren't
• 33:14
  bullish enough. Yeah, And like, as Luke was
• 33:19
  telling me this morning, like I thought I was bullish and Luke,
• 33:23
  like, I literally was like, dude, you're crazy.
• 33:26
  Like that is not even possible. And he's like, dude, once you
• 33:28
  run the numbers, it's not that crazy.
• 33:30
  And I'm like, OK anyways. We'll, we'll get to that in the
• 33:33
  culture. It's it's going to blow your
• 33:36
  mind and, and everyone's literally I saw someone say in
• 33:38
  the the top of in the chat, it was like, I think Luke is just
• 33:42
  click bait farming at this point because it used to be, you know,
• 33:45
  10 million sets and now it's 1,000,000 sets.
• 33:48
  Hey, I think he's just updating his numbers and now he's just
• 33:51
  even more bullish than anyone possible.
• 33:53
  And I did do a poll in the chat. I said, who's more bullish, Luke
• 33:57
  or sailor? And you weren't waiting for a
• 33:59
  little bit, but you're you're losing to sailor right now.
• 34:01
  So you know, I guess you got to amp up that bullishness by the
• 34:05
  end of the show and we'll and we'll show that.
• 34:06
  Hey, you may not have sailors money, infinite money glitch
• 34:10
  here, but Luke might be more bullish than sailors.
• 34:13
  Oh my God. Anyways, let's get into the news
• 34:17
  for today. I want to give a shout out to
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  All right let's get into this story.
• 36:35
  I honestly. I really wanted to do today's
• 36:38
  show on this one, on this story right here, because I thought it
• 36:42
  it really sums up all the conversations we had this week.
• 36:45
  But you know, we, we, me and Luke came together and I were
• 36:49
  like, we got a even more bullish, bullish video topic for
• 36:52
  today. You already know, you know,
• 36:54
  click bait. What, what, what's what's your
• 36:55
  title? My my my boy Brandon calls me
• 36:59
  the click mate scammer. Yeah, exactly.
• 37:04
  All right, anyways, let's cover this story real quick and we'll
• 37:07
  we'll chat about it. What?
• 37:09
  First of all, as I said earlier, it's very interesting now that
• 37:12
  the Bitcoin memes like our, it's our meme world.
• 37:15
  And now we're seeing that the biggest institutional asset
• 37:18
  managers in the world are literally talking like
• 37:21
  Bitcoiners or at least listening to what we're saying and
• 37:24
  stealing our memes, which is I think one in the same.
• 37:26
  Anyways, I'm over here on Dion news.
• 37:27
  I honestly, I don't really know what Dion news is, but they got
• 37:31
  AI guess an exclusive, you know, quote here from BlackRock
• 37:34
  advisors. So the headline here is
• 37:36
  BlackRock says clients are watching Bitcoin for this quote.
• 37:39
  Absolutely critical driver, which literally sounds like one
• 37:43
  of Luke's titles over here. So, you know, I don't know if
• 37:46
  Luke's working, you know, night shifts over here and also
• 37:49
  working night shifts at Ford words because Billy Bambaugh
• 37:52
  literally sounds like Luke now like the the mainstream media is
• 37:56
  literally becoming Bitcoin clickbait scammers as well.
• 37:59
  So we're we're winning guys. This is what winning looks like.
• 38:02
  Anyways, let's let's read this this article here.
• 38:04
  So the bullet point is BlackRock saw an uptick in client interest
• 38:08
  after Bitcoin's quote decoupled from tech stocks and Bitcoin's
• 38:12
  correlation to risky assets. It's key to its investment case,
• 38:15
  said the firm's crypto head. So BlackRock says Bitcoin will
• 38:19
  soon be risky not to own. Literally what US bitcoiners
• 38:23
  have been saying. I repeat, BlackRock says Bitcoin
• 38:25
  will soon be risky not to own. As we say all the time, the only
• 38:30
  winning play is to play the game and acquire Bitcoin.
• 38:33
  And if you're sitting on the sidelines or you're buying
• 38:35
  treasuries or gold, that's the real risk here.
• 38:39
  It's not about price volatility. The real risk is not owning
• 38:41
  Bitcoin anyways. That's if and a big if the price
• 38:45
  of the top cryptocurrency truly manages to break free of its
• 38:48
  tight correlation to riskier assets like US tech stocks.
• 38:51
  Quote the correlation between Bitcoin and tech stocks is going
• 38:54
  to be an absolutely critical driver.
• 38:56
  Robbie Mitch Nick is dude. It literally sounds like Luke's
• 38:59
  last name too. That's crazy, head of digital
• 39:01
  assets at BlackRock told DL News quote If Bitcoin trades more
• 39:04
  like a tech stock, it's not very interesting to institutions.
• 39:08
  But if Bitcoin trades with low or even negative correlation to
• 39:11
  what he calls left tail events or extreme bouts of downside
• 39:14
  risk, then it becomes potentially a very important
• 39:17
  portfolio asset to all manner of institutional portfolios.
• 39:21
  I repeat, guys, this isn't coming from, you know, two guys
• 39:24
  on YouTube like this isn't coming from simply Bitcoin.
• 39:27
  This is coming from BlackRock, the biggest institutional
• 39:30
  manager in the world. As the meme always goes, you
• 39:32
  know what Larry Fink wants, Larry Fink gets, he's literally
• 39:35
  saying if Bitcoin decouples, it will become a very important
• 39:39
  part of your portfolio. So for all of your uncles and
• 39:43
  you know, grandmas and grandpas and parents out there that are
• 39:46
  like, Oh no, this Bitcoin thing is insignificant now you have
• 39:50
  literally BlackRock saying it might be the most important
• 39:54
  thing you can be owning today, which is literally what
• 39:57
  Bitcoiners have been saying forever, added Mitch Nick, who
• 40:00
  wrote the comments following his appearance at the token 2049
• 40:03
  crypto conference quote. Then the conversation goes from
• 40:07
  Is this too risky for us to? Might it be risky not to own
• 40:10
  any? It's the sounding like a
• 40:13
  literally sounding like a Bitcoin shill here.
• 40:15
  Bitcoin backers are optimistic as the coin performance
• 40:17
  continues to quote decouple from equities and begins to stand on
• 40:20
  its own as a relatively low volatility asset.
• 40:23
  The disconnect is a signal to some that the cryptocurrency is
• 40:26
  starting to behave like a safe haven, like gold, and not
• 40:30
  riskier assets. Mitch Nick's comic came during
• 40:33
  Token 2049, a cryptocurrency conference in Dubai this week,
• 40:37
  where he appeared next to Bloomberg ETF analyst Eric
• 40:41
  Belkunis. And then Balkunis later spoke
• 40:43
  more about the discussion with Mitch Nick.
• 40:45
  And he said larger institutions, they're looking for digital
• 40:48
  gold. What they want is a safe haven,
• 40:50
  indestructible money, something that can hedge inflation and the
• 40:54
  market. Balkunis recounted the panel
• 40:56
  conversation and quote goes, decoupling will be, quote, long
• 41:01
  term or good long term, not just for the ETF but Bitcoin in
• 41:04
  general. Of course, you know, BlackRock
• 41:06
  is the biggest institutional manager in the world, and now
• 41:09
  they're doing the show here. But I thought this was huge.
• 41:12
  I think this is a huge, huge, you know, shot across the bow or
• 41:17
  whatever that that phrasing is here.
• 41:19
  Like, this is huge signal to me because, again, you know,
• 41:22
  Blackrock's the biggest institutional manager.
• 41:24
  They're now literally sounding like Bitcoiners.
• 41:26
  And I know there's been some back and forth on this idea of
• 41:29
  whether Bitcoin actually decoupled or not.
• 41:32
  And I know we all say, like, on a long enough time frame,
• 41:35
  Bitcoin will decouple, but it currently does kind of act like
• 41:38
  a leveraged tech stock. But we've seen that correlation
• 41:42
  breaking in the last couple of weeks when you know, everything
• 41:45
  seems to be breaking around as gold's been pumping, we're we're
• 41:48
  seeing the stock market's been struggling a little bit.
• 41:51
  Bitcoin is holding on very well now.
• 41:53
  We're seeing Bitcoin start to pump right now.
• 41:55
  And a lot of people been saying, you know, Bitcoin's going to
• 41:58
  follow global M2 supply and it seems to be doing that, but with
• 42:02
  what was it like 90 day delay and it seems to be following it
• 42:06
  really well. So again, the critical, the
• 42:09
  critical asset or the critical indicator here is can Bitcoin
• 42:13
  decouple and be treated or viewed and used as a safe haven
• 42:17
  asset? And if that happens, which is
• 42:19
  really this whole conversation we're talking about today, is
• 42:22
  this idea that if people are feeling uncertainty about the
• 42:26
  dollar, then obviously they are going to be looking at an
• 42:31
  alternative like Bitcoin. And there is actually.
• 42:35
  You know, a lot of evidence. To to this case here that people
• 42:39
  are looking for different ways to store value, not treasuries,
• 42:42
  not gold, You know, maybe they're just jumping into the
• 42:46
  new altcoins, which are all the Bitcoin stocks.
• 42:48
  But we are seeing that the move away from the dollar is starting
• 42:53
  to really make waves around the world.
• 42:56
  People are starting to wake up like the world is splitting into
• 43:00
  the Fiat standard and the Bitcoin standard.
• 43:02
  And if institutions no longer see Bitcoin as just, you know,
• 43:06
  tech beta play, it's now the hedge against U.S. dollar
• 43:10
  decline. And Bitcoin isn't a risk on
• 43:13
  asset anymore. It's like, as we always say,
• 43:16
  it's literally a fork from the old system.
• 43:18
  It's a parallel safety boat here.
• 43:21
  And it seems like people are waking up to this.
• 43:23
  So I don't know, I thought this is huge.
• 43:26
  And obviously, hey, we we know what happened with Larry Fink
• 43:29
  here. He's basically piling in all his
• 43:32
  customers to Bitcoin. I think they're making their bet
• 43:34
  on Bitcoin, you know, and, and doesn't necessarily make me feel
• 43:37
  all warm and fuzzy inside when Larry Fink is like going full
• 43:40
  Bitcoin. Maybe maybe Jim in the in the
• 43:43
  rumble chat is right. You know, maybe we are building
• 43:45
  our cashless dystopia here because Larry Fink's becoming a
• 43:50
  Bitcoiner. It it should make us pause.
• 43:52
  Anyways, I've been ranting enough.
• 43:55
  Luke, what's your thoughts on this?
• 43:56
  Is this as big of a deal? Or rather, is is this one of
• 44:00
  those things that like, just no one's paying attention to just
• 44:02
  because it's like, whatever, Larry Fink.
• 44:05
  I think it's a continuation of what I think is probably the
• 44:08
  most important adoption marker in Bitcoin.
• 44:12
  So a lot of people look at adoption and I think they look
• 44:15
  at adoption wrong. And we're going to get to
• 44:17
  adoption more in a minute. And how Larry Fink fits into
• 44:19
  this. But Larry Fink, world's largest
• 44:22
  asset manager, head of BlackRock, $10 trillion and more
• 44:26
  in assets under management, he's slowly but surely confirming
• 44:29
  that he's a bitcoiner. Every couple of months he goes
• 44:33
  on news and he says bitcoin's digitizing gold, it's a
• 44:36
  legitimate asset. Or he publishes another report.
• 44:40
  A couple of months ago, BlackRock published a report
• 44:42
  where they said you need a 2% allocation to Bitcoin.
• 44:45
  Couple of months later, BlackRock comes out and they
• 44:47
  says, yeah, we've actually included Bitcoin in one of our
• 44:50
  model portfolios that the entire world and thousands of hedge
• 44:55
  funds look at and try to copy what BlackRock is doing.
• 44:59
  Every couple of months we see something new coming out from
• 45:01
  Black Rock, and now they're saying it's risky to not own
• 45:07
  Bitcoin. I think that's telling.
• 45:09
  I think that's huge. I think this is just yet another
• 45:13
  signal of why I think adoption is going to be quicker than most
• 45:16
  people think. So everybody looks at Bitcoin
• 45:18
  adoption and they're looking at it wrong, I think.
• 45:21
  I think everybody's measuring medium of exchange adoption.
• 45:25
  I think everybody's thinking, OK, hyper bitcoinization and $10
• 45:29
  million Bitcoin. It happens when my friends in my
• 45:33
  mainstream circle are buying coffees with Bitcoin and they're
• 45:37
  thinking of Bitcoin as a medium exchange and a unit of account.
• 45:40
  And I think this is a complete wrong way to think about
• 45:42
  adoption. And I think it's dangerously
• 45:44
  setting a lot of people up with complacency because I think the
• 45:50
  real thing that sends Bitcoin to $10 million is the asset
• 45:53
  managers. It is how rapidly and what
• 45:56
  portion of the world's hedge funds, pension funds, sovereign
• 46:00
  wealth funds, nation States and billionaires are buying Bitcoin
• 46:04
  because these are the guys who are going to actually make an
• 46:07
  impact on adoption. These guys own the majority of
• 46:11
  the world's wealth. Again, this is actually going to
• 46:14
  tie into what we're going to talk about in the culture
• 46:15
  section, but wealth distribution follows A Pareto's principle.
• 46:20
  So typically, Pareto's principle says 20% of the things will give
• 46:25
  you 80% of the results. Now, wealth typically follows
• 46:28
  something similar. Typically about 20% of the
• 46:31
  people own 80% of the stuff. Because we've been living in
• 46:35
  this Fiat standard for so long, it's even more skewed than that.
• 46:38
  So really it's like the top 1% own 50% of the world's wealth.
• 46:42
  And Bitcoin, I believe, is going to have two adoption curves.
• 46:46
  The first is going to be the store value or the monetization
• 46:49
  adoption curve. So how many of the people who
• 46:53
  control the majority of the world's wealth, the $900
• 46:57
  trillion of assets, what percentage of these guys are
• 47:00
  adopting Bitcoin? OK.
• 47:01
  And I think these guys are adopting Bitcoin much quicker
• 47:05
  than the everyday joke, the everyday Jane, the guys who I
• 47:09
  think are going to be the last to adopt Bitcoin.
• 47:11
  And I think I my base case right now is that we actually see
• 47:16
  Bitcoin priced at $10 million per coin with global adoption
• 47:20
  less than 5%. And I get it.
• 47:23
  Hold the tomatoes. I don't want this to happen.
• 47:26
  But if the trend over the past five years continues, I think
• 47:30
  we're going to see that world before 20-30.
• 47:32
  I know how crazy that sounds. I know everybody's saying, oh,
• 47:36
  but my power law, my power law tells me, you know, in 2033,
• 47:39
  Bitcoin's going to be $1,000,000 a coin.
• 47:41
  I just don't think that's going to be how Bitcoin gets adopted.
• 47:45
  I think typically the markets in general take the course of most
• 47:50
  pain. Max Payne, OK.
• 47:52
  And I think Max Payne is bitcoins adopted by 5% of the
• 47:56
  globe and it's at $10 million a coin.
• 47:59
  So I, I genuinely think that is what's going to happen if the
• 48:03
  past five years of data is continues to happen over the
• 48:06
  next five years. And I just think Larry Fink
• 48:09
  coming out and saying what he's saying about Bitcoin is only
• 48:12
  going to accelerate this trend. And I think it's a massive
• 48:14
  signal that, yes, we kind of have data of who's been buying
• 48:20
  the Bitcoin because Larry Fink wouldn't be pumping Bitcoin so
• 48:23
  aggressively if him and his small, you know, circle of
• 48:27
  insider buddies weren't absolutely loaded to the tilts
• 48:32
  with Bitcoin. If they hadn't loaded up their
• 48:34
  bags, I didn't think you would see so much public embracement
• 48:38
  and pumping of Bitcoin like we're seeing from all of these
• 48:41
  largest banks, the largest asset managers.
• 48:44
  I think they've finally got their stash after they attacked
• 48:48
  Bitcoin and crashed and suppressed the Bitcoin price
• 48:52
  through 2021-2022 and 2023. I think all of the attacks you
• 48:58
  saw in that time frame, I believe strongly that's it's all
• 49:03
  a ploy by the big boys to load up their bags.
• 49:06
  Because I think pre 2020 these guys didn't know anything about
• 49:09
  Bitcoin. They thought Bitcoin was a joke.
• 49:11
  And then I think 2020 kind of changed everything.
• 49:14
  And then I think for the first time, we saw Bitcoin RIP in 2020
• 49:17
  from like 10K to 65K in what, what, three months at the tail
• 49:22
  end of 2020 going into early 2021.
• 49:25
  And I think a lot of these big guys are like, oh, hang on a
• 49:27
  minute, The world's richest man, Elon Musk, is buying Bitcoin,
• 49:30
  putting on his balance sheet. We have a billionaire like
• 49:32
  Michael Saylor buying Bitcoin and putting it on the balance
• 49:35
  sheet of a public corporation. And we have little countries in
• 49:37
  El Salvador right now buying Bitcoin and creating a what a
• 49:42
  Bitcoin legal tender law. This is scary.
• 49:45
  Maybe we need to own some of this stuff.
• 49:48
  And again, I've been screaming about this from the rooftops for
• 49:50
  years. I, I think they've been actively
• 49:53
  attacking the price. I think somebody tapped China on
• 49:56
  the shoulder in early 2021 to do what they did.
• 49:59
  I think somebody tapped Larry Fink on the shoulder in early
• 50:02
  2021 and said, hey, create this ESG narrative.
• 50:06
  We need to attack proof of work mining.
• 50:08
  We need to make Bitcoin mining sound dirty and make it sound
• 50:12
  like it's boiling the oceans. We need to create a lot of fun.
• 50:15
  We need to get states like the New York to propose 30% taxes on
• 50:19
  Bitcoin miners. We need to spread this narrative
• 50:22
  far and wide. Attack the price of Bitcoin for
• 50:25
  the next few years saying it's not ESG friendly and we need to
• 50:28
  buy as much of it as we can. Just some crazy hypothetical
• 50:31
  speculation. But again, I just think, I think
• 50:35
  the big boys have loaded up and I think they're probably ready
• 50:38
  to let it RIP. So I, I just think the next two,
• 50:42
  3-4 years in Bitcoin are going to be really consequential.
• 50:45
  I think they're going to be the most important years of
• 50:47
  Bitcoin's life. I think that was a perfect way
• 50:52
  to tee up just literally what I'm I'm going to, I'm going.
• 50:56
  To frame it this way probably the most.
• 50:57
  Insane bullish stuff I've heard in a long time and and it's our
• 51:02
  job here at simply Bitcoin to be as bullish as possible,
• 51:04
  obviously, but I I can't even I like I don't even hold you know
• 51:09
  Luke's coat on this is. He's all right.
• 51:11
  We're we're going to go into, you know, the retire on what
• 51:15
  1,000,000 SAT's controversy, this literally ridiculous price
• 51:20
  prediction that he was telling me this morning.
• 51:22
  And then what we'll kind of, you know, chat about that.
• 51:24
  So I don't know if you if wait, let me look at the poll real
• 51:27
  quick. All right, you're losing the
• 51:29
  sailor, bro, So you better, you better up the bullishness.
• 51:32
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• 53:36
  All right, Luke, I think, I think we're going to start with
• 53:39
  this comment here from James Smith in the chat and he goes
• 53:43
  nothing better than Friday. Help him.
• 53:46
  So maybe, maybe this is a new theme.
• 53:48
  You know how people do like Casual Friday?
• 53:51
  Well, maybe we're going to have to double down on Friday Hopium
• 53:53
  going into the weekend. Actually, that's all we do.
• 53:55
  It shouts out to I. I think his name's like RB.
• 53:57
  He trolls us every day. He's like, they just do hopium
• 54:00
  every single day. Yes, we are your hopium.
• 54:02
  Dealers and we are OK with this. This is why you come to simply
• 54:05
  Bitcoin is so you can escape the Fiat.
• 54:08
  Brain rot and you know hope for some optimistic futures here you
• 54:13
  know it's optimist fields for a reason anyways anyways, I'm you
• 54:16
  know no no no more of me on my pedestal here anyway Luke where
• 54:21
  do you want to start with actually I know how we're going
• 54:23
  to do this start with the ridiculous price prediction you
• 54:27
  gave me this morning and if you'd.
• 54:29
  Forget you were. Mentioning Peter Dunworth as
• 54:32
  well so start there and then we can go into the controversy on
• 54:37
  Twitter every even people in the chat today were like man I am so
• 54:40
  tired of retire on .1 Bitcoin meme but Luke.
• 54:45
  Seems to be lowering it. Retire on .01 Bitcoin.
• 54:49
  So start with this ridiculous price prediction.
• 54:52
  Run through some of the math you know.
• 54:54
  Explain yourself as best you can why you are so bullish.
• 54:59
  Yes, I wanted to be very clear. The crazy thought experiment put
• 55:04
  out there by Peter Dunworth, my Australian buddy who I think is
• 55:09
  actually the most bullish Australian and Bitcoiner in the
• 55:12
  whole world, that is not needed or that is not what I'm basing
• 55:19
  my 0.01 Bitcoin retirement plan on.
• 55:23
  The 2 are completely separate and if Pete is even
• 55:26
  directionally correct with the crazy numbers that he puts out
• 55:29
  there, you're going to need far less than 1% of a Bitcoin to
• 55:33
  retire. Far, far, far less.
• 55:35
  OK, so 2 separate things. So again, we don't need a
• 55:39
  billion dollar Bitcoin to be able to retire with 0.01 Bitcoin
• 55:42
  caveated. So Peter, for a long time, well
• 55:46
  over a year ago, I interviewed Peter maybe two years ago and he
• 55:50
  walked me through a hypothetical thought experiment and he got me
• 55:53
  thinking. Peter essentially said, look,
• 55:56
  when you really run the numbers and you think about this thought
• 56:00
  experiment of where does this supply suffocation go?
• 56:05
  What is the fair price of Bitcoin?
• 56:07
  And he walked me through it, right?
• 56:08
  And the thought experiment is an interesting 1.
• 56:11
  He assumes, OK, what if there's only a million Bitcoin or even
• 56:15
  100,000 Bitcoin available to buy?
• 56:18
  Like he's essentially saying, look, I think there's going to
• 56:21
  be entities like Michael Saylor who hold 500,000 Bitcoin.
• 56:25
  And there's only really just going to be like the majority of
• 56:29
  the 21 million Bitcoin. It's going to be locked up by
• 56:31
  entities like Michael Saylor who want to hold it for 100 years,
• 56:35
  or there's going to be millions of Bitcoin backing U.S.
• 56:38
  Treasury notes, or there's going to be sovereign nations all
• 56:40
  around the world with a few 100,000 Bitcoin in their
• 56:44
  treasuries and they're just simply not going to sell it.
• 56:46
  I mean, if you're a Michael Saylor, a public company or a
• 56:50
  nation state, you're not going to sell your Bitcoin.
• 56:52
  You're going to understand the value of Bitcoin.
• 56:54
  And like real estate in Manhattan 2 or 300 years ago,
• 56:58
  you never sell it. You always lend against it.
• 57:02
  So Peter's hypothesis just essentially says, look
• 57:05
  hypothetically, what happens if all the Bitcoin was locked up?
• 57:08
  What happens if we're on a Bitcoin standard?
• 57:11
  Well, when you run those numbers, things get really
• 57:13
  interesting because each day today in 2025, there's 450
• 57:18
  Bitcoin mined a day. And depending upon how you
• 57:22
  measure it, there's trillions of dollars of economic activity
• 57:26
  that happens everyday. China's buying oil from the
• 57:28
  Middle East, America's buying widgets from China.
• 57:32
  This happens all day everyday. And if you were to really crunch
• 57:34
  the numbers and have a look at, OK, let's assume we're on a
• 57:38
  Bitcoin standard, 450 Bitcoin a mine a day.
• 57:40
  The rest are locked up. We have trillions of dollars of
• 57:43
  economic activity that has to be facilitated by 450 Bitcoin.
• 57:48
  When you run those numbers, you're literally looking at a
• 57:50
  Bitcoin price tag of somewhere between 1:00 to $7 billion per
• 57:55
  Bitcoin. And again, this isn't
• 57:56
  hyperinflation. This is today's value of Bitcoin
• 57:59
  with the money and the economic activity available today.
• 58:03
  So that's the crazy price projection.
• 58:06
  That's the crazy hypothetical thought experiments.
• 58:09
  But let's be more conservative. So when I tell people I think
• 58:13
  you only need a million SAT's to retire, I'm more conservative.
• 58:17
  I'm saying, OK, there's 21 million Bitcoin.
• 58:19
  We understand that 4 million Bitcoin are lost forever.
• 58:21
  Let's assume one day that we get into a world where Michael
• 58:24
  Saylor holds 1 million or 2 million Bitcoin and he's not
• 58:26
  going to sell it for 100 years. I genuinely believe
• 58:29
  conservatively, I don't think there's going to be any more
• 58:32
  than 4 million Bitcoin that circulates and is available to
• 58:36
  buy on a daily basis. I don't think there's going to
• 58:38
  be any more than that. I just feel like the logical end
• 58:41
  game of Bitcoin is the majority of that supply is going to be in
• 58:44
  the treasuries of public companies like micro strategy or
• 58:48
  it's going to be in the treasuries of nation states like
• 58:50
  America. So when you run the numbers and
• 58:53
  you assume there's 4 million out of the 21 million available to
• 58:57
  buy, and again, remember there will be more and more Bitcoin
• 58:59
  lost in the future. Today there's 4 million.
• 59:01
  I didn't think it's crazy to say there could be 6 million or 7 or
• 59:04
  8 million Bitcoin lost in the future.
• 59:06
  When you run these numbers, you assume this formula in Bitcoin
• 59:09
  that will circulate, and then you assume the same thing that
• 59:12
  we assumed earlier. Wealth distribution always
• 59:15
  follows A Pareto's principle distribution.
• 59:19
  Things get really interesting because when you run those
• 59:21
  numbers, all of a sudden you actually only need 0.015
• 59:28
  Bitcoin. That's 1.5% of a Bitcoin to be
• 59:31
  in the new class of millionaires.
• 59:34
  So again, I've got AI did a whole video a couple of weeks
• 59:36
  ago breaking down this whole table of Pareidos princi, of
• 59:40
  Pareidos principle distribution on a Bitcoin standard.
• 59:45
  And you can see there's 80 million people who'll be able to
• 59:47
  own 0.015 Bitcoin. That's 1.5% of a Bitcoin if you
• 59:52
  assume we're on a Bitcoin standard and 4 million Bitcoin
• 59:55
  are available for sale. I don't think they're crazy
• 59:57
  assumptions or crazy hypothetical thought
• 1:00:00
  experiments. And it's really like it's very
• 1:00:03
  attainable for a lot of people today to buy 0.015 Bitcoin.
• 1:00:08
  It's what's that about $1500 worth today.
• 1:00:12
  So I genuinely believe buying $1500 of Bitcoin today and self
• 1:00:16
  custody in the Bitcoin today, that's the biggest hiccup.
• 1:00:21
  Again, a lot of the Bitcoin I think is going to be lost in the
• 1:00:23
  future from people not custodying their Bitcoin
• 1:00:26
  correctly or people trusting exchanges with their Bitcoin.
• 1:00:30
  I think so many people are going to think, OK, I'm I've got my
• 1:00:33
  generational wealth and they will make a pivotal mistake in
• 1:00:37
  between now and five or ten years into the future.
• 1:00:40
  So again, the assumption, buy 1.5% of a Bitcoin today, $1500
• 1:00:45
  worth of a Bitcoin today, get it off exchanges, self custody it
• 1:00:49
  and learn what you own, hold it and no to green Firefly, you're
• 1:00:54
  not going to need 100 years. I think all of this happens in
• 1:00:56
  the next 15. I think things are going to
• 1:00:58
  happen much quicker than most people think.
• 1:01:00
  And that's just because the supply suffocation.
• 1:01:02
  I mean, we've seen what, 900,000 Bitcoin leave exchanges in the
• 1:01:06
  past two years. There's only 2.5 million Bitcoin
• 1:01:10
  on exchanges today. So if you extrapolate the past
• 1:01:13
  two years of data, Fords, which is I think in I, I think that's
• 1:01:16
  actually the real data. We should be looking at what
• 1:01:18
  happened post 2020. Bitcoin's kind of been in this
• 1:01:21
  different environment post 2020. If you extrapolate the past two
• 1:01:25
  years of data, Ford, there's no Bitcoin exchanges by like
• 1:01:27
  20/28/2029. So yeah, I didn't think we're
• 1:01:30
  gonna have to wait 100 years to start seeing signs and hints of
• 1:01:35
  what is the true purchasing power of Bitcoin.
• 1:01:39
  OK, hold on, let's. Bro.
• 1:01:45
  Literally with a straight face. Came on the show today and said
• 1:01:49
  $7 billion per Bitcoin is reasonable.
• 1:01:52
  Couldn't make this up. That.
• 1:01:56
  Is crazy all right all right let's so you explained the case
• 1:01:59
  here I I do kind of want to talk about like the controversy
• 1:02:03
  around you know this retire on Bitcoin with you know 10 million
• 1:02:08
  sets 1,000,000 sets or .1 Bitcoin point O1 Bitcoin.
• 1:02:12
  Why, why do you think, why do you think it's playing out?
• 1:02:14
  Like obviously there's some some edge Lord contrarians on
• 1:02:17
  Twitter, but as you and I know, making content, this does seem
• 1:02:21
  to be people, You know what it does seem what people are
• 1:02:25
  searching on these video platforms like they love this,
• 1:02:29
  this idea. And then you have the flip side
• 1:02:31
  of like a lot of bitcoiners, maybe purist bitcoiners are
• 1:02:34
  like, bro, like, can you stop doing this click bait stuff like
• 1:02:37
  be a little more realistic. So what's your take on Just Like
• 1:02:40
  That, the actual controversy and not so much like the mass or you
• 1:02:45
  know, how we get there? The controversy, I think the
• 1:02:49
  only stem of controversy just comes from people who honest,
• 1:02:54
  honestly, with all due respect, they just haven't run the
• 1:02:56
  numbers. Like I, I think a lot of people
• 1:02:59
  just don't understand Bitcoin and they just think Bitcoin's
• 1:03:02
  going to be digital gold and they think the end game for
• 1:03:05
  Bitcoin is $500,000 a coin. Obviously when you run the maths
• 1:03:09
  0.01 Bitcoin, it's not going to be able to retire you if
• 1:03:13
  Bitcoin's just $500,000 a coin and it's just digital gold.
• 1:03:17
  Again, there's a lot of people who think that is Bitcoin's end
• 1:03:20
  game. So they're, they're looking at
• 1:03:22
  how they're looking at a title on YouTube that says retire with
• 1:03:25
  0.1 Bitcoin and they're saying that's $50,000, you can't retire
• 1:03:29
  with that. You're an idiot.
• 1:03:30
  But they don't actually, they don't entertain the argument
• 1:03:33
  from the other person's perspective.
• 1:03:35
  And again, I again, I can see their perspective.
• 1:03:38
  They think Bitcoin's just 500K, just $1,000,000 a coin.
• 1:03:42
  They think the power law is some gospel.
• 1:03:45
  I think it's some scientific prophecy.
• 1:03:47
  And I again, I've been very clear from day one, I just don't
• 1:03:50
  believe in any of that stuff. I, I think it's really difficult
• 1:03:53
  to be able to model how Bitcoin's going to be adopted.
• 1:03:56
  I have no idea how Bitcoin's going to be adopted.
• 1:03:59
  But what I think is what I think more people need to be paying
• 1:04:01
  attention to what is the Max Payne what, what is the outcome
• 1:04:07
  that the least amount of people are prepared for because this is
• 1:04:10
  always where financial markets go.
• 1:04:13
  They always go the way to punish the most amount of people.
• 1:04:17
  So Haley. Hold on your camera.
• 1:04:19
  Your camera died on you. It's doing the people a service
• 1:04:22
  they don't want to see. They don't want to see your
• 1:04:25
  hair, bro. Yeah.
• 1:04:28
  And I just think, oh, hello, hello.
• 1:04:30
  We're on the computer camera. This is a little bit intimate.
• 1:04:32
  I like this. I just think the only
• 1:04:35
  controversy really comes from people just being bearish on
• 1:04:38
  Bitcoin. That's where I think the
• 1:04:40
  controversy comes from. People just think Bitcoin is
• 1:04:43
  going to be 500 K or $1,000,000 a coin.
• 1:04:45
  And again, like CK Snarks from the Human Rights Foundation says
• 1:04:49
  that's the most unlikely outcome.
• 1:04:52
  I think there's, I agree with him.
• 1:04:53
  There's three outcomes. Bitcoin fails and it goes to 0.
• 1:04:57
  There's a bug in the code or it gets wiped out or the NSA
• 1:05:00
  created Bitcoin and they pull the rug.
• 1:05:02
  Again, that's Bitcoin's open source code.
• 1:05:04
  There's no bugs or back doors in Bitcoin, so I think that's
• 1:05:07
  incredibly unlikely. That's the first outcome.
• 1:05:09
  Bitcoin fails and goes to 0 second outcome.
• 1:05:12
  Bitcoin is just another asset. So it's digital gold.
• 1:05:16
  It's 500,000 a coin, it's a million a coin.
• 1:05:18
  It's maybe $2,000,000 a coin, and it's just some digital gold.
• 1:05:22
  It's 20-30 trillion dollars a market cap.
• 1:05:25
  I genuinely think that's the most unlikely outcome.
• 1:05:28
  And then there's scenario #3 and it's all or nothing.
• 1:05:32
  Bitcoin becomes the next money below I and I just believe a lot
• 1:05:36
  of Bitcoiners believe that scenario #2 is where Bitcoin's
• 1:05:41
  going to end up. And it's these bitcoiners who I
• 1:05:44
  think are the ones who have the problem with the 0.1 Bitcoin
• 1:05:49
  retirement mean and the, you know, all of these projections
• 1:05:53
  about Bitcoin. I just, I just pure, I just
• 1:05:55
  think they don't understand how technologies get adopted and the
• 1:05:58
  history of money, because I think the history of technology
• 1:06:01
  and money shows us very clearly when a superior technology comes
• 1:06:05
  along, it completely obsoletes the prior technology.
• 1:06:08
  And it's the exact same thing with money.
• 1:06:10
  Every single time a superior money comes along, it completely
• 1:06:13
  obsoletes the prior money. And I just, I don't even, I
• 1:06:18
  don't even have to entertain the thought of Bitcoin taking all of
• 1:06:23
  the $900 trillion of wealth to, you know, get to get to some
• 1:06:28
  really crazy bullish numbers. If Bitcoin just captures 30 to
• 1:06:32
  40% of it, you're looking at a Bitcoin price tag of over $100
• 1:06:36
  million per coin. And again, this is just like I,
• 1:06:39
  I believe this is conservative. Bitcoin just captures 30% of the
• 1:06:43
  world's $900 trillion of wealth. Bitcoin's over $100 million a
• 1:06:46
  coin. And all of a sudden, what's 10%
• 1:06:50
  of a Bitcoin? Then it's $10 million.
• 1:06:52
  You can retire on that. Even 1% of a Bitcoin, that's
• 1:06:55
  $1,000,000. You can retire in a lot of
• 1:06:57
  places around the world with $1,000,000 with Bitcoin and $100
• 1:07:01
  million a coin. And again, that's today's
• 1:07:04
  dollars, not hyperinflation. That's with the assets in the
• 1:07:07
  world today currently. And I just think most people,
• 1:07:11
  and again, I would love your thoughts on this, Opti.
• 1:07:13
  I think that's the first reason I think people are just bearish
• 1:07:16
  on Bitcoin. And the second is maybe there's
• 1:07:19
  a lot of Ogs in this space who spent a lot of time trying to
• 1:07:22
  buy as many Bitcoin as possible. You know, they built up A10
• 1:07:25
  Bitcoin stack, a 20 Bitcoin stack, A50 Bitcoin stack.
• 1:07:29
  And they're like, OK, I've got my generational wealth.
• 1:07:31
  And maybe they just don't like the idea of someone also getting
• 1:07:34
  generational wealth with such a small amount of Bitcoin and
• 1:07:37
  getting to Bitcoin later than them.
• 1:07:39
  I don't know my second maybe hypothetical thought experiment.
• 1:07:43
  But obviously I'd love your thoughts on this topic because
• 1:07:45
  there is a lot of people who you know, don't like the retire on
• 1:07:49
  Bitcoin ideas. They think they're just hoping.
• 1:07:52
  Again, I've laid out my reasoning, my maths and my
• 1:07:55
  thought experiments and my assumptions for why I am so
• 1:07:58
  bullish on on Bitcoin. I'd love your thoughts though.
• 1:08:02
  Yeah, Well, first of all, I do kind of want to comment on your
• 1:08:05
  Max Payne scenario. I, I think I like you and I go
• 1:08:09
  back and forth a lot and I've actually never heard, I think
• 1:08:12
  you said it a little differently before.
• 1:08:15
  But I do love that like flipping of this idea of Max Payne
• 1:08:19
  because when we as Bitcoiners kind of talk about this, we we
• 1:08:22
  think, you know, Max Payne is just like basically, you know,
• 1:08:25
  Bitcoin has a stable coin essentially What Nico's feeling
• 1:08:27
  right now. Everyone's trolling Nico because
• 1:08:28
  he's been bearish on the show. The last couple of weeks calling
• 1:08:32
  Bitcoin. For the stable coin, like for us
• 1:08:34
  Bitcoiners for, for, you know, the small minority of people
• 1:08:36
  that are in Bitcoin, like a stable coin, you know, basically
• 1:08:39
  Bitcoin going sideways in Fiat terms, like that is Max Payne
• 1:08:43
  for us or even like a prolonged bear market for the, the Bitcoin
• 1:08:46
  holders. That would be the Max Payne
• 1:08:49
  scenario. But I do like how you flip that
• 1:08:50
  on the head and you're like, no, the Max Payne scenario is
• 1:08:53
  literally all the people that aren't in Bitcoin not seeing
• 1:08:57
  Bitcoin RIP and not getting that appreciation.
• 1:08:59
  Like I, I love how you flip that.
• 1:09:01
  That is I I think personally, you know, maybe maybe you're
• 1:09:05
  starting to make me feel more bullish.
• 1:09:07
  I think that I like that Max fame scenario a lot better.
• 1:09:10
  You know, I'm, I'm going to steal that from Luke now.
• 1:09:14
  The the what, what my reasoning or why there?
• 1:09:18
  I think there is a controversy. Well, one, you know, as we hear
• 1:09:21
  all the time, it's like, hey, you know, we are on YouTube and
• 1:09:25
  we are on the social media and you know, where we are trying to
• 1:09:29
  get people to click on the video.
• 1:09:30
  So sometimes you are a little hyperbolic and I get it.
• 1:09:33
  You know, people are tired because the, I think me and Nico
• 1:09:36
  were the first ones to do the retirement meme and then Luke
• 1:09:39
  picked it up and then literally everyone started doing it.
• 1:09:42
  I think Brian Harrington did it for a little bit and now it's, I
• 1:09:45
  feel like it's everywhere that everyone is doing, you know,
• 1:09:48
  this retirement mean, but people love it.
• 1:09:50
  And this is the thing about social media.
• 1:09:52
  You know, when you, when you find something that works, you
• 1:09:54
  kind of just double down on it. And if people keep watching it,
• 1:09:57
  then of course you're going to get more of that content.
• 1:09:58
  So maybe on the one hand, it's just kind of like fatigue, topic
• 1:10:02
  fatigue. We, we kind of experienced that
• 1:10:04
  with the ETF last year. We're kind of experiencing that
• 1:10:07
  now with the SPR. There's just like topic topic
• 1:10:09
  fatigue where you, you just hear it so much and everyone always
• 1:10:12
  yells at me on the show. They're like, dude, Opti
• 1:10:15
  literally says the same thing over and over and over again.
• 1:10:17
  And I literally just repeat. Actually, I might have, I might
• 1:10:20
  have said it differently. I heard this, this tweet by
• 1:10:23
  Stetsky, or rather read this tweet and he said something on
• 1:10:26
  the lines of like, everything has already been said before and
• 1:10:30
  we're just repeating it. But the first time it was said,
• 1:10:32
  no one heard it. And I was like, damn, like,
• 1:10:34
  that's a profound, profound way of flipping this.
• 1:10:37
  And this is what we're doing here.
• 1:10:38
  Like, yes, we, we constantly get the same message out there so
• 1:10:41
  that more people can get it. Because look, if you've been
• 1:10:44
  watching the show for a long time, you you probably heard
• 1:10:47
  this message. You probably say these same
• 1:10:48
  things to your friends and family.
• 1:10:49
  And you're like, you know, can you guys, you know, dive deeper
• 1:10:52
  into the nuance here? And they're like, yeah, we can.
• 1:10:55
  But then, you know, like, first of all, I have 45 IQ here.
• 1:10:58
  So like I'm probably not the expert that you want to listen
• 1:11:01
  to. And second of all, there's new
• 1:11:04
  people that come in and watch the show.
• 1:11:06
  And so maybe that's the first one, you know, topic fatigue,
• 1:11:09
  but I do like what you said in regards to if someone's been in
• 1:11:13
  Bitcoin for so long, it's almost like they're hold on.
• 1:11:18
  Let it down on. Choking on my saliva over here.
• 1:11:22
  If, if people been in Bitcoin for what say, you know, 1512,
• 1:11:27
  ten years, you know, I've been here.
• 1:11:30
  It's just surprisingly like 8 years and it, it seems like it
• 1:11:33
  went by, you know, in a blink of an eye.
• 1:11:36
  You do think about like all the pain and sacrifice that you had
• 1:11:39
  to go through to build up your stack and how it fundamentally
• 1:11:43
  shifted your life. And I think there is part of
• 1:11:46
  this idea of like kind of pulling the ladder up behind us
• 1:11:48
  where people are like, look, you just got into Bitcoin.
• 1:11:51
  Like keep stacking. Like earn your dues, bro.
• 1:11:54
  Like you're not going to retire on one million sets.
• 1:11:56
  You're not going to retire on 10 million sets.
• 1:11:58
  And, and I love how you said it, it's just like they're, they're
• 1:12:01
  just self reporting that they're really not that bullish on
• 1:12:03
  Bitcoin because, you know, I, I, you know, and when I think of my
• 1:12:07
  like most bullish predictions, like, I think, you know, dollar
• 1:12:12
  set parity is reasonable. Like I think that's a
• 1:12:15
  conservative bet in our lifetimes.
• 1:12:17
  And if that's the case, you know, a million sets will
• 1:12:19
  basically equal a millionaire. We've been trolling on Twitter
• 1:12:22
  and meaning it for a long time that the real millionaire is
• 1:12:25
  acquiring a million sets. And at the time when we were
• 1:12:28
  doing this, it was like $100 to get a million sats.
• 1:12:31
  And we're like, yeah, like good meme guys.
• 1:12:33
  So but you guys are you guys are really smoking the opium on that
• 1:12:36
  one. But now it's it is almost
• 1:12:38
  seemingly coming to fruition. So if we do get to these crazy
• 1:12:41
  numbers, I think there will be a lot of people that are butt hurt
• 1:12:43
  this idea that like, hey, you know, you got in 10 years after
• 1:12:46
  the after I did, you only bought, you know, a million
• 1:12:49
  sats, which at the time was $1500.
• 1:12:52
  And yet you are able to live a good life.
• 1:12:54
  So I really do like those that that take.
• 1:12:57
  So when it comes to the controversy, I've, I think just
• 1:13:00
  like summing it up, I think a lot of people on social media
• 1:13:03
  and you kind of you, you see this a lot in the chat.
• 1:13:05
  People just like to complain sometimes, you know, like if you
• 1:13:08
  find something that works, you double down on it and you're not
• 1:13:11
  going to please everyone. So what's the, what's the,
• 1:13:14
  what's the meme? You know, the squeaky wheel gets
• 1:13:17
  to grease. So that's probably why we're
• 1:13:19
  seeing it. Most people love it.
• 1:13:20
  But there there has been recent pushback, which is why I'm kind
• 1:13:23
  of was telling Luke today like we're going to we're going to
• 1:13:26
  frame this whole video on one of Luke's recent controversies
• 1:13:29
  since I have you on today's show.
• 1:13:32
  But I love I love you. Like I can tell you've actually
• 1:13:34
  thought about this, not just running the numbers on how you
• 1:13:38
  can retire in a million sets, but also the controversy around
• 1:13:41
  why people are feeling a certain way.
• 1:13:43
  And it could also be bear market fatigue.
• 1:13:46
  I think people are just like we want the price to RIP, you know,
• 1:13:48
  hey, look, I get it, You know, we're not here for quote UN
• 1:13:52
  quote the Fiat games, but hey, we all want to increase our
• 1:13:54
  purchasing power and I don't. Think these these are separate
• 1:13:58
  ideas, but I think it's just. Like a bear market fatigue.
• 1:14:02
  We, we see this during every bear cycle that I've been in.
• 1:14:05
  You know, Bitcoiners are very prone to eating their own and
• 1:14:08
  we're kind of seeing this as well with this whole OP return
• 1:14:10
  controversy, which I covered on yesterday's show.
• 1:14:13
  It's like, you know, people just want something to do and the
• 1:14:17
  best thing to do is just tear other Bitcoiners apart.
• 1:14:19
  Like we no longer have to tear shit corners apart because
• 1:14:22
  they're just irrelevant here. So we just tear each other apart
• 1:14:25
  now and like call each other shit corners now.
• 1:14:27
  Like people have been calling me a shit corner on the show and
• 1:14:30
  I'm like, how like just cuz we have some, you know, some
• 1:14:33
  engaging titles here, like I'm a shit corner now.
• 1:14:35
  This is crazy. Like literally committed my
• 1:14:38
  sacrifice everything for going Bitcoin only and now I'm a shit
• 1:14:42
  corner. It's just, it's just funny man.
• 1:14:44
  What's it time is a flat circle or whatever the meme is.
• 1:14:47
  Anyways, anyways I'm rambling here.
• 1:14:49
  I'm just, I'm just kind of having a conversation with.
• 1:14:51
  Luke at this point. But hey, we got some more time.
• 1:14:55
  If you want to, If you want to get even more.
• 1:14:56
  Bullish. RIP it.
• 1:14:57
  Yeah, no, I mean, just to your point there, I think topic
• 1:15:00
  fatigue, a lot of people get bored with Bitcoin when the
• 1:15:05
  price goes sideways for so long. I think to the point about topic
• 1:15:08
  fatigue, I think there's been a lot of, you know, smaller
• 1:15:11
  channels who have seen that the retirement idea on YouTube is a
• 1:15:16
  really good idea. And I think there's a lot of
• 1:15:18
  people who do way too many podcasts and they do way too
• 1:15:22
  many shows and they just like they will interview someone, a
• 1:15:26
  sports star and they will title it like retire on Bitcoin.
• 1:15:29
  And they don't even talk about Retire on Bitcoin.
• 1:15:31
  It's just complete click bait. So I think a lot of people also
• 1:15:35
  there's like that topic fatigue. They're like, oh, I'm just
• 1:15:37
  getting click baited about this idea and they're not giving me
• 1:15:40
  something new in the video. Again, I've made a ton of videos
• 1:15:44
  looking at how you can retire on Bitcoin, but in each one I'm
• 1:15:47
  going to run different numbers. I'm going to look at different
• 1:15:49
  assumptions. I'm going to look at different
• 1:15:50
  calculations because at the end of the day, that's why I think
• 1:15:53
  it's such an interesting topic. Everybody's different.
• 1:15:55
  There's 8 billion people in the world.
• 1:15:57
  Everybody's at different age ranges.
• 1:15:58
  Everybody lives in different countries.
• 1:16:00
  You need a different amount of money or Bitcoin to retire in
• 1:16:04
  each country around the world, which is even more crazy and
• 1:16:07
  even more interesting. Now you just challenged me.
• 1:16:10
  Opti get more bullish. Well, on this topic recently I
• 1:16:14
  was again, I've lived in Peru for probably the past seven
• 1:16:18
  months continuously. I do a lot of travelling, but
• 1:16:21
  Peru is my home base. And I was, you know, I was
• 1:16:24
  orange peeling a local Peruvian and we're kind of talking about,
• 1:16:27
  I was telling them like, look, 0.1 Bitcoin, It's, it's going to
• 1:16:30
  make you incredibly rich in the future.
• 1:16:34
  And I wanted to, and then I wanted to put like some numbers
• 1:16:36
  behind it. I always like to put numbers
• 1:16:38
  behind everything. It helps people visualize and
• 1:16:40
  understand things better. And I was shocked, absolutely
• 1:16:44
  shocked at what I found from the research I found it wasn't super
• 1:16:48
  in depth, but there's only like 130 or 140 people in the
• 1:16:52
  country, Peru with more than $1,000,000 in net worth.
• 1:16:56
  So think about that for a minute.
• 1:16:57
  The country's 20 million people, There's literally like 100
• 1:17:01
  people who owing 1,000,000 bucks worth of assets.
• 1:17:05
  Think about that like if we if Bitcoin again conservatively
• 1:17:08
  gets to around $1,000,000 in the future, you can own one Bitcoin,
• 1:17:13
  you can be in the country Peru and you'd be like a one in a
• 1:17:16
  10,000 person. Think about that for a minute.
• 1:17:19
  It's mind boggling when you think about being able to retire
• 1:17:23
  on such a small amount of Bitcoin and then moving to a
• 1:17:27
  different country. I mean, yes, cost of living in
• 1:17:29
  the West is insane, but there's 100 people in the whole country
• 1:17:34
  of Peru, 20 million people here that own 1,000,000 bucks worth
• 1:17:37
  of assets. Think about that for a minute.
• 1:17:40
  Again, a lot of people, even the bearish people, they think, OK,
• 1:17:43
  maybe Bitcoin will get to 1,000,000 bucks.
• 1:17:45
  Well think about that. If, if, if you own one Bitcoin
• 1:17:49
  and you move to Peru and Bitcoin's at $1,000,000 a coin,
• 1:17:52
  you're like a one. Is it one in 100,000 person?
• 1:17:56
  Now you'd be a one in a 10, you'd be one in a 10,000 people.
• 1:18:00
  So the 10,000 people you walk past every day or every week,
• 1:18:03
  there'd only be one other person who has the same amount of
• 1:18:06
  Bitcoin or the same amount of wealth as you.
• 1:18:09
  So again, I think the big hack here is obviously Bitcoin.
• 1:18:14
  I genuinely believe it's going to solve the biggest problem in
• 1:18:16
  the world, which is the retirement problem.
• 1:18:19
  There is a retirement crisis in the world.
• 1:18:22
  Recently, I actually filmed a video looking at Australia's
• 1:18:25
  most recent proposal to tax their superannuation accounts.
• 1:18:30
  That's our retirement accounts with a 30% unrealized capital
• 1:18:36
  gains. Think about that for a minute.
• 1:18:37
  So if you have 3,000,000 Australian cutbacks, that's only
• 1:18:41
  like 1.6 or 1.7 million U.S. dollars.
• 1:18:44
  By the way, if you got 1.6 or 1.7 million U.S. dollars in your
• 1:18:48
  retirement account, those potentially are going to be
• 1:18:50
  taxed with 30% unrealized capital gains every year.
• 1:18:55
  It's pretty wild. I genuinely do believe the
• 1:18:57
  reason why people are so interested in, you know, this
• 1:19:01
  topic of retiring on Bitcoin is because it answers the biggest
• 1:19:04
  problem in the world. There's 8 billion people in the
• 1:19:06
  world who cannot retire. Bitcoin is the solution to that
• 1:19:09
  problem. So again, another little bit of
• 1:19:12
  bullishness here, Opti. Again, you can have financial
• 1:19:16
  sovereignty with Bitcoin, but I believe you can supercharge your
• 1:19:20
  sovereignty stack, so to say, by also taking advantage of the
• 1:19:24
  geographical sovereignty that is available to all 8 billion
• 1:19:28
  people on the planet today. You can really move to whatever
• 1:19:30
  country you want to move to, set yourself up legally to not pay
• 1:19:34
  taxes and you can live, you can upgrade your lifestyle by 10X
• 1:19:39
  and you can retire with 10X less Bitcoin by moving to one of
• 1:19:43
  these countries. So again, financial sovereignty
• 1:19:46
  with Bitcoin, take advantage of geographical sovereignty, become
• 1:19:49
  a digital nomad, go, if you can work from anywhere around the
• 1:19:52
  world, why not take advantage of that and go and upgrade your
• 1:19:55
  lifestyle early? Anyway, some more bullish
• 1:19:58
  thoughts for the guys here. I'll do.
• 1:20:00
  What do you think? Incredible.
• 1:20:02
  Yeah, I love it. I love it.
• 1:20:03
  I, I don't think I've heard it in that phrasing of Bitcoin
• 1:20:08
  solves one of the biggest problems in the world today, and
• 1:20:11
  that is retirement. Like I think that's a good spin
• 1:20:14
  here 'cause I mean, we've all heard fix the money, fix the
• 1:20:16
  world, but we kind of at times don't think about it in like the
• 1:20:21
  human element. Like why, why do we need to fix
• 1:20:24
  the money is so that people can live a good life.
• 1:20:26
  And you know, you can see that as the elderly population gets
• 1:20:31
  older. One of the biggest things that I
• 1:20:33
  see around, it's like I think I've said on the show, 1 of my
• 1:20:35
  biggest fears is like 1, having really bad posture as an old guy
• 1:20:39
  and then two, like having to, you know, flip burgers when I'm
• 1:20:43
  like 80 years old. If this doesn't.
• 1:20:46
  Work out your boy flipping burgers forever.
• 1:20:49
  And those things absolutely terrify me.
• 1:20:51
  And we're seeing that there is a whole, you know, a good portion
• 1:20:54
  of the older generation now that just completely got ripped off
• 1:20:59
  by the Fiat system, you know, 2008 financial crisis and just
• 1:21:02
  continue to get fleeced. And it's absolutely horrible.
• 1:21:06
  And This is why we constantly talk about it like, yo, you just
• 1:21:09
  need to buy some Bitcoin. Maybe maybe if you're 80 years
• 1:21:11
  old, buying Bitcoin today isn't going to necessarily change your
• 1:21:15
  life because who knows how much longer you have, but it will
• 1:21:19
  change your, you know, grandchildren's lives and or
• 1:21:21
  even like your kids. So I I.
• 1:21:24
  Really like that framing that Bitcoin solves.
• 1:21:26
  Obviously Bitcoin solves a lot of problems here.
• 1:21:28
  It doesn't fix everything, but it does solve and address a lot
• 1:21:31
  of problems. And one of them is retirement.
• 1:21:33
  As we've been saying on the show for a long time, like Bitcoin
• 1:21:36
  allows for the American dream to happen everywhere like it, it
• 1:21:39
  brings back the American dream of have have.
• 1:21:42
  If you're an American, you know, like the white picket fence, the
• 1:21:45
  family, you know, that, that some, some might say that
• 1:21:48
  fantasy that we live in now because our generation, you
• 1:21:51
  know, Luke and I are similar age where I, I don't know if you're,
• 1:21:54
  you're, you're, you're younger, you're mid 20s, right?
• 1:21:57
  I'm mid 30s and people in my generation, most of my friends
• 1:22:01
  have nothing, literally nothing. And I don't think many of them
• 1:22:05
  even think about like buying a house, owning a house.
• 1:22:08
  I know some friends and some friends do have houses and stuff
• 1:22:11
  and families, but the majority of my friends in my generation
• 1:22:14
  and I think the statistics follow this.
• 1:22:16
  They own literally nothing. They're still living paycheck to
• 1:22:20
  paycheck. And this is a huge, huge
• 1:22:22
  concern, growing concern as we get older.
• 1:22:25
  We are literally the poorest generation in a long time.
• 1:22:29
  And that's not like being a victim or complaining about it.
• 1:22:31
  It's just acknowledging the statistics.
• 1:22:33
  So I love that Bitcoin fixes retirement.
• 1:22:36
  I think this is I think we hit hit the nail on the head, Luke.
• 1:22:39
  I think This is why this topic works so well is people, people
• 1:22:43
  are searching for this stuff and people want to escape the Fiat
• 1:22:45
  system, escape their jobs and do something better with their
• 1:22:48
  lives. So love it.
• 1:22:50
  Love it. Anyways, Luke, last words before
• 1:22:52
  we wrap up today. Is there any?
• 1:22:53
  Is there is there? Are we scooping at the bottom of
• 1:22:55
  the jar here? Is there anything left?
• 1:22:57
  What's the final message you want to give to the audience?
• 1:23:00
  You can never scoop the bottom of the jar of my bullishness, my
• 1:23:03
  friends. I have all sorts of rabbit holes
• 1:23:05
  I could go into, but I won't for the sake of everybody listening
• 1:23:09
  in today. Yeah, I think I just genuinely
• 1:23:10
  believe that's the summation of everything.
• 1:23:13
  Like Bitcoin is the solution to the world's biggest problem, and
• 1:23:17
  it's a retirement crisis. Again, There's billions of
• 1:23:21
  people in poverty around the world.
• 1:23:23
  They're not necessarily in poverty because they don't work
• 1:23:26
  hard. A lot of people in Africa, South
• 1:23:28
  America and all across Asia, they're in poverty because they
• 1:23:32
  can't save their money in something that's actually going
• 1:23:35
  to retain value and it's going to have value when they retire.
• 1:23:38
  They're on a perpetual hamster wheel.
• 1:23:40
  And, and again, it's for a lot of these guys, it's, you know,
• 1:23:43
  it's, it's until 2008, it's been really difficult to opt out of
• 1:23:47
  that system. But now we have Bitcoin.
• 1:23:49
  This is why you have an obsession with all of these
• 1:23:52
  different online hustles, like technical analysis, trading
• 1:23:56
  courses and, you know, drop shipping and all of these other,
• 1:23:59
  you know, just strange obsessions with how to make
• 1:24:02
  money online. I think they're all kind of, you
• 1:24:05
  know, they're all kind of symptoms of the the lower
• 1:24:08
  problem. The lower problem is the base
• 1:24:10
  money's broken and Bitcoin's a solution to that.
• 1:24:12
  So, yeah, I mean, final thoughts.
• 1:24:15
  I mean most people need far less Bitcoin then they probably
• 1:24:19
  think. Buy your Bitcoin today comment.
• 1:24:22
  Or. Not that one.
• 1:24:25
  That maybe one day, maybe one day I actually, I might run the
• 1:24:31
  numbers behind Peter Dunworth hypothetical thought experiment.
• 1:24:35
  But hey, who knows, Maybe what, maybe not.
• 1:24:38
  Maybe one that's too far. Maybe in 200 years or 300.
• 1:24:42
  That is that is true click bait scammer stuff.
• 1:24:44
  There one again, guys, it's 32 sats of generation of wealth.
• 1:24:48
  So one sat, you know, maybe that's a a year of income.
• 1:24:53
  No. I'm trolling.
• 1:24:54
  Actually, there's one last comment I do want to.
• 1:24:56
  I do want to see mention it's on.
• 1:24:58
  It's on Rumble over here. Our boy Utxo, he goes here.
• 1:25:02
  I'll. Pull it up right here.
• 1:25:03
  He goes. Utxo goes.
• 1:25:05
  Opti's friends owe nothing, but are they?
• 1:25:08
  Happy. That's a good one.
• 1:25:13
  UTXO. That's a good one.
• 1:25:15
  All right, guys. Well, this was Friday.
• 1:25:17
  May 2nd episode I think 1236. Of course, this was our boy
• 1:25:22
  Luke, the most bullish Bitcoin content creator in the game.
• 1:25:27
  He's got a YouTube channel. You'll you'll be seeing him more
• 1:25:30
  often on the show. Guys.
• 1:25:31
  I don't know if it's going to be every Friday, but we're going to
• 1:25:33
  we're going to get Luke on a lot more go follow him on Twitter
• 1:25:37
  Luke Mikic MIKIC 21 and thanks for coming on man.
• 1:25:42
  That was fun. I I had a great time some Friday
• 1:25:45
  hopium for everyone. So let me pull you off screen,
• 1:25:47
  Luke, and then I will. Wrap up the show.
• 1:25:50
  Oh, wait, actually, actually. I'm not done.
• 1:25:52
  My job is not done here. I have to remind you guys, we
• 1:25:57
  are taking over Vegas and the price is increasing in 13 hours,
• 1:26:03
  so you better get your tickets, guys.
• 1:26:05
  We're trying to get Luke there, but you know, he's a digital
• 1:26:07
  nomad so he might not get there. He's having some trouble.
• 1:26:10
  But we're taking over Vegas. We will be down there.
• 1:26:12
  We're going to have a booth on the floor.
• 1:26:14
  So if you are going to Vegas, make sure you come say what's
• 1:26:18
  up. I think we're going to be doing
• 1:26:20
  so. I think we're probably going to
• 1:26:21
  do the live show from the floor if we figure out all the AB
• 1:26:24
  technicals. Anyways, it is coming up in May
• 1:26:28
  27th through the 29th in Las Vegas at the Venetian.
• 1:26:32
  We are taking over Vegas for the world's largest Bitcoin event.
• 1:26:36
  I think this year is going to be huge.
• 1:26:37
  It feels like if the price starts running, I feel like this
• 1:26:40
  is going to be a huge event. So you guys definitely want to
• 1:26:43
  be there, love what they do, they do a great job.
• 1:26:46
  Anyways, on that note, guys, it's your boy Opti.
• 1:26:50
  Niko was not here because he wasn't being lazy.
• 1:26:53
  He was actually working. He I think you guys are going to
• 1:26:56
  like this IRL that he's dropping.
• 1:26:58
  I haven't seen it yet, but apparently it's going to be
• 1:27:00
  super sexy guys. So I'll see you on Monday.
• 1:27:04
  On that note guys, peace out, have a good weekend, touch some
• 1:27:07
  grass, eat some good food, call your loved ones, get a workout
• 1:27:10
  in, all that good stuff. Peace.
• 1:27:14
  Today's episode was brought to you by bitcoinwell.com, a
• 1:27:17
  Bitcoin only platform on a mission to enable financial
• 1:27:20
  independence.