Latest / Simply Bitcoin / BREAKING: Trump ENDS Bankers ATTACK on YOUR SAVINGS! | EP 1303

Transcript

BREAKING: Trump ENDS Bankers ATTACK on YOUR SAVINGS! | EP 1303 · Simply Bitcoin

• 0:00
  Donald Trump is about to sign an executive order that might
• 0:04
  finally end the global attack on our savings accounts.
• 0:09
  This article is literally blowing up in the Wall Street
• 0:13
  Journal this week because it looks as if America might be
• 0:18
  going down a different path to the rest of the West.
• 0:22
  Of course, we're talking about the UK.
• 0:24
  They just passed the law earlier in the week.
• 0:27
  That might end free speech for for the first time in 140 years
• 0:32
  in the UK. This is why we're seeing the
• 0:35
  search trends for VPN explode in the Great British Empire.
• 0:41
  And then of course, this came out this week.
• 0:43
  Mexico is out there launching biometric IDs, while Trump is
• 0:49
  threatening new tariffs. And let's also not forget what
• 0:53
  the EU is doing right now. They're supposed to be launching
• 0:57
  a central bank digital currency in about 50 days time.
• 1:02
  And Ursula von der Leyen is openly talking about the need
• 1:07
  for a digital ID. All of this has happened in the
• 1:09
  past week. We have a lot to dive into,
• 1:12
  Nico. I think the first place to start
• 1:15
  things with is probably breaking down what is going on with this
• 1:20
  new executive order that Donald Trump might be signing.
• 1:24
  I think there's a lot to talk about with this and I think we
• 1:27
  got a lot to dive into. Absolutely, man.
• 1:30
  And first of all, shout out to the go Luke Makich hosting the
• 1:34
  show today. Off with the hook, but I do want
• 1:36
  to cover. This because this is something I
• 1:39
  believe that a lot of people have experienced over the last,
• 1:44
  I would say 5 to 10 years all over the West.
• 1:47
  We all know the Canadian truckers protest here in the
• 1:50
  United States. Again, I don't want to get into
• 1:52
  specific politics and political parties, but certain political
• 1:57
  groups were unbanked because of their political beliefs,
• 2:02
  including President Trump. Eric Trump actually talked a lot
• 2:07
  about that, how he saw his father get unbanked left and
• 2:11
  right. And again, this is a political,
• 2:14
  this was someone who was running for president.
• 2:17
  So essentially the financial system was getting weaponized
• 2:20
  towards people that have certain political beliefs.
• 2:23
  It seems like the Trump administration, as he promised
• 2:27
  during the Nashville conference is finally ending that.
• 2:30
  So it's a 2 pronged attack, right?
• 2:33
  You have Senator Cynthia Lummis basically calling out the Fed
• 2:36
  saying hey, Operation choke .2 point O, what are you guys
• 2:40
  doing? It's a black hole.
• 2:42
  We can't get answers from you. And then from the executive
• 2:45
  branch, Donald Trump coming in and saying, listen, it's over.
• 2:49
  The discrimination against certain political groups has to
• 2:52
  come to an end. And that's it.
• 2:55
  Seems like that's what's happening.
• 2:56
  So check out this Wall Street Journal article for the audio
• 2:59
  listeners. White House preps order to
• 3:02
  punish banks that discriminate against conservatives The White
• 3:07
  House is preparing to step up pressure against big banks over
• 3:10
  perceived discrimination against conservatives.
• 3:13
  Here's the key. Here's the key part.
• 3:15
  And crypto companies with an executive order that threatens
• 3:19
  to find find lenders that drop customers for political reasons.
• 3:25
  A draft of the executive order, which was viewed by The Wall
• 3:28
  Street Journal, directs bank regulators to investigate
• 3:32
  whether any financial institutions might have violated
• 3:35
  the Equal Credit Opportunity Act, antitrust laws or Consumer
• 3:41
  Financial Protection laws. Violators could be subject to
• 3:44
  monetary penalties, consent decrees or other disciplinary
• 3:49
  measures, according to the draft.
• 3:51
  The order could be signed as soon as this week, according to
• 3:55
  people familiar with the matter. It is possible the order could
• 3:59
  get delayed or that the administration's plans will
• 4:01
  change. The draft order doesn't name any
• 4:04
  specific banks, but appears to refer to an instant where Bank
• 4:08
  of America was accused of shutting down the accounts of a
• 4:11
  Christian organization operating in Uganda based on the
• 4:15
  organization's religious beliefs.
• 4:17
  The bank has said it closed the accounts because it doesn't
• 4:20
  serve small businesses operating outside the US.
• 4:24
  The draft also criticizes the role that some banks played in
• 4:29
  an investigation into what happened during the riots at the
• 4:33
  Capitol. And it continues to say when
• 4:36
  asked about the Journal's report on the draft order.
• 4:39
  In a CNBC article at CNBC interview Tuesday, President
• 4:43
  Trump recount recounted his own experiences being dropped as a
• 4:47
  bank customer, including at JP Morgan Chase.
• 4:51
  The banks discriminated against me very badly and I was very
• 4:54
  good to the banks. AJP Morgan spokeswoman said that
• 4:58
  the bank doesn't close accounts for political reasons and that
• 5:01
  it agreed with Trump that regulatory change is needed.
• 5:04
  I mean, that's like kind of saying, hey, we don't take fault
• 5:08
  in this. But yeah, I think the
• 5:11
  regulations are necessary. And I'll just kind of RIP off
• 5:14
  the veil here. They acted so politically.
• 5:17
  I mean, we had Caitlin Long on the show a couple of weeks ago.
• 5:21
  She said, and I quote the the order to deny her bank, the
• 5:25
  custodia bank, the federal banking charter, which would
• 5:29
  make her competitive with other big banks, came directly from
• 5:33
  the White House of the Biden administration.
• 5:36
  So I mean, is it too much of A stretch to believe and to see?
• 5:41
  I remember multiple and I worked at some of these companies, they
• 5:45
  were straight up debanked because they were Bitcoin on
• 5:48
  ramps, right? So yes, this is complete
• 5:51
  discrimination based on your political beliefs, based on your
• 5:55
  beliefs in general, based on your beliefs in money.
• 5:58
  And it seems like it's finally coming to an end.
• 6:02
  But I think the part that rubs me the wrong way a little bit
• 6:04
  here is the fact that they're not not taking full
• 6:08
  responsibility. They're saying, oh, no, we
• 6:11
  didn't do it for those reasons, but regulation is necessary.
• 6:15
  So it's like, we did it. We're not going to take
• 6:18
  responsibility for it, but we're going to try to fix it.
• 6:20
  I don't like that at all. And it goes on to say banks have
• 6:23
  been on the edge about potential action about by the Trump
• 6:26
  administration. The Journal reported in June
• 6:28
  that the administration was considering an executive order.
• 6:32
  Conservatives for years have accused banks of denying them
• 6:35
  services on political or religious grounds, and
• 6:38
  cryptocurrency companies have said they were shut out of
• 6:41
  banking services under the Biden administration.
• 6:44
  Banks, for their part, have said their decisions are driven by
• 6:47
  legal, regulatory or financial risks, including those stemming
• 6:52
  from the US anti money laundering laws.
• 6:54
  Which we've talked about a lot on Simply Bitcoin, how those AML
• 6:58
  laws get weaponized to go after certain political opponents.
• 7:02
  Remember what happened during the Canadian truckers protest,
• 7:06
  right? A lot of people's accounts just
• 7:09
  got frozen, right? They literally just got frozen.
• 7:11
  Those people were peacefully protesting and Bitcoiners were
• 7:15
  included in this as well because a lot of people, since the
• 7:18
  accounts are frozen, they started using Bitcoin as a way
• 7:21
  to raise funds and then those people were persecuted as well.
• 7:25
  So again, I don't believe we should live in a world where you
• 7:28
  should get persecuted. Your bank should be shut down
• 7:32
  based on your political beliefs, your religious beliefs, and your
• 7:36
  beliefs about money. I don't think we should live in
• 7:38
  that world. These are the same politicians,
• 7:40
  the same banks that are also asking for central bank digital
• 7:44
  currencies. With the central bank digital
• 7:47
  currency, they wouldn't even have to ask.
• 7:49
  They would just ban it out, right?
• 7:51
  They would just freeze it out, right?
• 7:52
  There is no bank to call, right? And that is absolutely dystopic.
• 7:56
  That is absolutely terrifying. So I'm really, really glad this
• 7:59
  administration is doing something about it.
• 8:01
  Elections have consequences, like we've been saying for the
• 8:03
  past year or so, Luke. Yeah, I've got a couple of
• 8:07
  things I want to share. So you mentioned it, Nico.
• 8:10
  You mentioned the Canadian truckers and them having their
• 8:14
  bank accounts frozen. I think that's absolutely
• 8:17
  horrifying. But I want to show the guys an
• 8:19
  article of what's actually happening in China.
• 8:23
  So again, most people know that the Canadian Freedom Truckers,
• 8:28
  they had bank accounts frozen. I just found this right now.
• 8:31
  It's kind of interesting. One woman's bank account was
• 8:34
  frozen for buying a Freedom Convoy T-shirt.
• 8:38
  Imagine that. You can't even buy a T-shirt
• 8:40
  online without your bureaucrats freezing your bank accounts.
• 8:44
  And again, what I think is really interesting is we tweeted
• 8:47
  this out from the Simply Bitcoin Twitter account.
• 8:50
  Christine Lagarde in a recent interview was openly praising
• 8:55
  China's central bank digital currency.
• 8:57
  She was saying it's a success for everyone and it's not just
• 9:01
  for the elites, it's for everyone.
• 9:03
  It's doing great. So they're kind of trying to
• 9:06
  paint this picture. Of.
• 9:08
  A CBDC being an innovation, OK, they're saying, look, yes,
• 9:12
  traditional bank accounts, they're slow.
• 9:15
  The bank has charged you a 2 to 3% fee.
• 9:18
  Trust us at the central bank, we're going to market and go
• 9:22
  direct to consumer with these CB DCS and Nico.
• 9:27
  I find it fascinating that Christine Lagarde is openly
• 9:30
  praising Chinas CBDC and we know that China's digital yuan comes
• 9:37
  with an expiration date. So this kind of ties into this
• 9:41
  bigger theme that we're starting to see with Europe and them
• 9:45
  talking about the fact that they want to confiscate savings.
• 9:51
  Again. This is a really.
• 9:52
  Scary topic, especially with what is going on with.
• 9:58
  You know the UK right now, but again, we also talked about this
• 10:02
  last week. This is a blog post from the
• 10:05
  European. Central Bank look at the date
• 10:06
  here, 27th of June 2025, they directly said.
• 10:11
  There is now an urgent need to channel retail savings into
• 10:17
  European capital. Markets.
• 10:19
  To finance EU priorities again, you know, we've been speculating
• 10:24
  here for a little while. It's simply Bitcoin.
• 10:26
  What is the European Central Bank digital currency going to
• 10:29
  look like? Why is the ECB openly publishing
• 10:33
  articles like this on their official, on their official
• 10:37
  website saying there is an urgent need to channel retail
• 10:41
  savings into like European capital markets?
• 10:44
  I just think this central bank digital currency is probably
• 10:47
  going to come with an expiration date like what we saw in China
• 10:51
  and potentially a whole lot more.
• 10:53
  But Nico, I want your thoughts on this topic.
• 10:55
  What do you think? Am I just being a little bit of
• 10:56
  a tinfoil hat conspiracy theorist?
• 10:58
  Theory or not at all and I and I will say, you know, you know,
• 11:02
  like for the last four years or so, a lot of the so-called
• 11:06
  conspiracy theorists have happened to be proven more
• 11:11
  correct and more right than. And a lot of these, you know,
• 11:14
  legacy media, authoritative voices, right?
• 11:17
  So I don't think this is a conspiracy theory at all.
• 11:20
  And what I will say is we've heard Christine Lagarde talk
• 11:24
  about Bitcoin. We've heard her say that Bitcoin
• 11:27
  is an escape valve. We've heard this, the European
• 11:30
  Central Bank say if we don't establish central bank digital
• 11:33
  currencies, we are going to lose control, right?
• 11:37
  We've heard her say that, right? What worries me the most is the
• 11:43
  West should not be trying to emulate the CCP and China,
• 11:50
  right? That is a dictatorship, that is
• 11:53
  a country that does not have the same ideals, the same freedoms
• 11:58
  that the West has. We should not be trying to
• 12:01
  emulate that as a society, right?
• 12:03
  So which is which is brings me to the, the, the thing that I
• 12:06
  always make the case for, which is we really have two futures
• 12:10
  ahead of us. We have the future of Bitcoin
• 12:13
  and then we have the future of central bank digital currencies.
• 12:17
  There is no in between because the continuation of Fiat are
• 12:21
  central bank digital currencies, and what central bank digital
• 12:24
  currencies are going to enable the state and the government to
• 12:28
  to do is completely dystopian. You're talking about tying your
• 12:34
  money to your ID, tying your money to a social credit system.
• 12:40
  If you talk against the government, if you say something
• 12:44
  negatively towards the government, they freeze your
• 12:47
  account. This has already happened
• 12:48
  before. This is not just us speculating.
• 12:51
  They freeze your account. They bar your ability to to buy
• 12:56
  tickets to travel. They take away your ability to
• 13:00
  perhaps put your kid in a, a, a, a better school or, or to get
• 13:05
  access to better healthcare. Like that is the system of which
• 13:10
  Europe wants. Europe wants to go down that
• 13:12
  path. And they're signalling that by
• 13:16
  their hostility towards Bitcoin with the Mika laws and Mika
• 13:20
  regulations. And they're really like trying
• 13:23
  to close the door on people's ability to take self custody.
• 13:27
  That's how I'm perceiving it as a Bitcoiner here in the US and
• 13:30
  also their continued push for these central bank digital
• 13:35
  currencies. And another, another thing that
• 13:37
  I'll add as well is Luke, you, you pronounced it so
• 13:41
  beautifully. So I'm going to ask you to
• 13:43
  pronounce her name. But you know, the head of the
• 13:47
  European Union, she is not elected, right?
• 13:51
  She's not elected, misses Ursula, she's not elected,
• 13:54
  right. And she holds a tremendous
• 13:57
  amount of power. So again, you know, we always,
• 14:01
  we always hear about, you know, the importance of democracy and
• 14:05
  we get lectured about it and, and I and I'm a big fan, but
• 14:08
  simultaneously, you know, it's, it's, it's from how I perceive
• 14:14
  it. It's democracy as long as it
• 14:16
  goes in a certain direction that that's, that's how I'm, that's
• 14:19
  how I'm, I'm perceiving this whole situation.
• 14:21
  Yeah, you and me both. And this is the lady, Ursula von
• 14:26
  der Leyen. I think she's caused a little
• 14:28
  bit of controversy recently because she's out there openly
• 14:33
  tweeting about the need to mobilize private capital and
• 14:38
  convert this into European priorities.
• 14:42
  We can see. We also need to mobilize private
• 14:45
  capital. I mean, I might just be reading
• 14:49
  in between the lines here, Nico, but that screen's like, we need
• 14:53
  to use a CBDC to confiscate your savings, and we're going to use
• 14:58
  it to do what we want. I mean, this is, you know, maybe
• 15:01
  I'm paraphrasing incorrectly here, but they're openly writing
• 15:05
  blog articles saying there is an urgent need to channel retail
• 15:10
  savings. That's yours and that's my
• 15:13
  saving account into European priorities.
• 15:17
  I mean, I, I just think they're saying the quiet parts out loud.
• 15:19
  And it's not just Christine Lagarde, it's not just Ursuline,
• 15:24
  Ursula von der Leyen, it's everyone in the Europe zone, OK.
• 15:29
  There's so many people in Europe playing the same kind of game
• 15:33
  again. We've got France implementing
• 15:36
  citizenship based taxation. They're openly trying to push
• 15:39
  this through parliament right now.
• 15:42
  We've got Spain talking about wealth tax and it just really
• 15:46
  looks as if the war, you know, the eurozone.
• 15:49
  I want to be careful with what I say, but maybe they're just
• 15:52
  being infected with a little bit of collectivist ideology and it
• 15:57
  looks as if Trump is kind of maybe swinging.
• 16:00
  Back the other way with this new executive order, which is why I
• 16:03
  think we're both so bullish on American ego.
• 16:07
  Yeah, I, I, I completely agree. And I mean, the, the European
• 16:10
  Union news is straight up dystopian.
• 16:13
  Like, I mean, the wording that they're saying is, you know, it
• 16:18
  is, is absolutely crazy. Like they're basically saying
• 16:21
  like, we want to have your, we want to have the ability to tap
• 16:24
  into your savings. So think about that for a
• 16:27
  second. Like you work your butt off, you
• 16:31
  pay your taxes, you're a good citizen.
• 16:34
  And essentially bureaucrats in Brussels are basically saying
• 16:40
  that's not enough. We also need to have the ability
• 16:43
  to tap in to your private savings.
• 16:46
  To get those private savings to work like that is utterly
• 16:50
  insane. Like.
• 16:51
  Why are you getting to to to determine what I can and cannot
• 16:56
  do with my savings? That's insane.
• 16:58
  On top of inflation, on top of the tax, on top of property tax,
• 17:02
  on top of sales tax, on top of the VAT.
• 17:05
  Now you want to control my savings as well?
• 17:08
  Like, that is gnarly. That is crazy, right?
• 17:12
  And This is why I love the move from Trump.
• 17:14
  Trump's basically saying, like, look like, you know, we're done
• 17:18
  with this persecution of a specific political group.
• 17:22
  It's over. It's done.
• 17:24
  We're putting pressure on banks. Those banks are it's interesting
• 17:27
  how they phrased it. It's like we take no
• 17:29
  responsibility, but change is necessary.
• 17:32
  So they're basically indicating, yes, we're willing to change,
• 17:36
  but we're also not going to take blame, right?
• 17:39
  So however, I'll, I'll, I'll leave, I'll leave it with this.
• 17:43
  Bitcoin fixes this because here's the thing, it's swinging
• 17:49
  towards conservatives this time. But if you look back like 50-60,
• 17:53
  seventy years ago in the United States, it was swinging towards
• 17:58
  the left. The left was the one being
• 18:00
  persecuted, right? So what Bitcoiners are making
• 18:03
  the case for is no one should be able to control the money and no
• 18:07
  one should be able to print money, right?
• 18:09
  It should be a neutral system, rules without rulers.
• 18:13
  And that's how the system should operate, right?
• 18:16
  And that's the case that Bitcoiners are making for that's
• 18:19
  the, the world that I want to live in.
• 18:21
  The people that don't want you to live in the world they, they
• 18:24
  don't want you to live in that type of world.
• 18:26
  They're the people that are advocating for central bank
• 18:28
  digital currencies. And, and it's a dystopia and,
• 18:31
  and history has shown it. History has shown what happens
• 18:34
  when governments accumulate too much power.
• 18:37
  They weaponize that towards the people.
• 18:39
  And that's something that we've experienced during Operation
• 18:42
  Choke point 2.0. Bitcoiners didn't give a flying
• 18:46
  F about politics. We didn't care.
• 18:48
  We were not interested. It was just like, it was just
• 18:51
  like, oh, like, you know, like it doesn't matter.
• 18:53
  We're building. But it wasn't until the last
• 18:56
  administration with Operation Choke point 2.0 that it
• 18:59
  galvanized our industry. It literally forced our industry
• 19:03
  into a corner to throw our political hat in the ring so
• 19:06
  that we would our industry wouldn't disappear off the face
• 19:09
  of the earth because that's what they were trying to do.
• 19:12
  Now you have to ask yourself, why were they trying to do that?
• 19:15
  They were trying to do that, to use Elizabeth Warren's own
• 19:19
  words, is because they want want a central bank digital currency.
• 19:23
  And The thing is, when people have a choice between a CBDC and
• 19:29
  Bitcoin, they're going to choose Bitcoin.
• 19:31
  Why? Because Bitcoin, a CBDC, doesn't
• 19:35
  solve 2 fundamental issues that Bitcoin solves.
• 19:38
  A CBDC doesn't solve inflation. That's number one #2A CBDC
• 19:45
  doesn't solve censorship. That might not be that big of a
• 19:49
  deal for you if you live in the West, but if you live in the
• 19:53
  global S, if you live in a current in a country that lives
• 19:57
  under a dictatorship or has a relatively unstable Fiat
• 20:00
  currency so the government is more likely to roll out, cut
• 20:03
  capital controls. It's extremely important to use
• 20:08
  a money that is censorship resistant, right?
• 20:10
  So yeah, this is a crazy, crazy time that we're heading into
• 20:14
  that we're living into. But I mean, we've been talking
• 20:16
  about this, right, That we, we witnessed the disintermediation
• 20:19
  of media with the rise of social media and allows people like
• 20:23
  Luke and I to make content and talk directly to you guys.
• 20:27
  But what we're about to start living through, my prediction
• 20:31
  over the next 5 to 10 years is the disintermediation of money.
• 20:35
  And more and more people are going to start to opt out and
• 20:39
  they're going to start to pick and choose which money they want
• 20:42
  to use. And of course, I think Bitcoin
• 20:45
  is the best 1. And that's why I think.
• 20:48
  Number's going to continue to go up, Luke.
• 20:52
  I think you're muted, my friend. Muted what I was saying.
• 20:57
  Thanks for catching me there. Nico was I agree number will
• 21:00
  continue to go up and like we kind of tease in the
• 21:03
  introduction this isn't you know, this whole attack and
• 21:07
  fight that I think is going on over savings and you know
• 21:11
  whether you are allowed to save or not.
• 21:13
  This isn't just Donald Trump potentially signing an executive
• 21:17
  order on this topic this week. I also wanted to share this with
• 21:20
  you guys. We also saw that Hester Pearce,
• 21:24
  of course, at the SEC is now calling for modern financial
• 21:29
  privacy in the let's just call that the Bitcoin era.
• 21:33
  I scrolled down and I found that she was speaking this week at a
• 21:37
  conference just yesterday. So this is August 4th.
• 21:40
  And what I found really interesting was she emphasized
• 21:44
  the necessity of modernizing outdated regulatory frameworks,
• 21:49
  particularly the Bank Secrecy Act and the third party
• 21:54
  doctrine, to align with technological advancements.
• 21:58
  So maybe it's not just a Donald Trump talking point.
• 22:01
  Maybe it's not just him recognizing that.
• 22:05
  Europe. Is going after our savings.
• 22:09
  Maybe it's Hester Pierce and Donald Trump.
• 22:11
  Maybe this is something that the entire Trump administration is
• 22:15
  going to lean into. Maybe they recognize the fact
• 22:19
  that people in America want financial sovereignty.
• 22:22
  Maybe they just want to have a little bit of sovereignty over
• 22:25
  their money. Donald Trump did infamously ban
• 22:28
  or outlaw CBDC's on. Was it one of the first days he
• 22:32
  got into office, Nico? Yep, Yep.
• 22:35
  That was a specific executive order that was issued by the
• 22:40
  Trump administration that essentially was stopping the
• 22:43
  momentum that and, and this was very, this was very insidious
• 22:48
  what the previous administration was trying to do, because
• 22:52
  clearly there wasn't. A a a a general consensus
• 22:56
  approval for CBD CS, right? So what they were trying to do
• 23:01
  is that they were trying to slow down the Bitcoin industry and
• 23:05
  they were trying to basically put into put these CBDC's in
• 23:09
  through the back door. So when Trump got into office,
• 23:13
  one of his first executive orders that were also not only
• 23:17
  ending Operation Choke .2 point O, but it also specifically
• 23:21
  forbade the United States government to launch a central
• 23:27
  bank digital currency. Also on the state level,
• 23:31
  multiple states have passed laws like the state in Florida that
• 23:35
  specifically forbid the launch of central bank digital
• 23:41
  currency. So shout out to Hester Pierce
• 23:44
  again, you know, this is the fight ahead of us, Ladies and
• 23:46
  gentlemen, I think Opti pulled up a meme earlier on in the show
• 23:50
  basically showing the two roads ahead of us.
• 23:53
  We got, you know, the road that's, you know, heading into
• 23:56
  the sunlight, heading into peace and prosperity.
• 23:59
  Thank you, Luke, which is Bitcoin.
• 24:01
  And then we have the CBDC Rd., which is just Fiat on steroids,
• 24:06
  right? It's gonna empower the
• 24:07
  government even more than it is empowered now.
• 24:11
  Yeah, I think it really is as simple as that.
• 24:13
  Nico, you normally say, what is it, big slavery or?
• 24:17
  Bitcoin or slavery, bro, it's it literally comes down to that.
• 24:20
  That's really what it comes down to.
• 24:22
  Which way Western man, I think it.
• 24:25
  I do think it's interesting that Donald Trump looks to be one of
• 24:28
  the few leaders around the world actually out ban, you know,
• 24:32
  banning, straight out banning CBDC's if we actually have a.
• 24:37
  Look. At I've got a little bit of a.
• 24:39
  Tracker here that has a look at which countries around the world
• 24:43
  are implementing CBDC's. What's kind of?
• 24:46
  Horrifying is the large majority of the world's economic power is
• 24:51
  launching a. CBDC, all of these colours on
• 24:55
  the map, if they're not red, you should be horrified because the
• 24:59
  countries that are highlighted in red have cancelled a CBDC and
• 25:04
  I don't know about you guys, but I can't see in many countries I
• 25:06
  can see Ecuador has cancelled a CBDC.
• 25:10
  Nikko, I find it interesting that the government has, well, I
• 25:14
  need to be careful what I say. Let's just say that there's a
• 25:16
  lot of gangs taking over control in Ecuador right now.
• 25:22
  Maybe ask yourself why when you consider they're one of the few
• 25:25
  countries here without a CBDC, That's just a question.
• 25:29
  Kenya has also cancelled a CBDC and it looks as if the only
• 25:34
  other country is Fiji. And now we've course we've got
• 25:38
  America, we've got Donald Trump openly banning CBDC's and then
• 25:43
  it looks as if the rest of the world is openly trying to create
• 25:47
  one. This is what I find really
• 25:48
  concerning. There's another website that
• 25:50
  looks at this that actually shows that from memory it's 98%
• 25:55
  of the globe's GDP is right now investigating launching A CBDC.
• 26:02
  So this is another map. What I like about this map is it
• 26:05
  shows 137 countries representing 98% of global GDP is exploring a
• 26:13
  CBDC. So this isn't like just the
• 26:16
  China thing. This isn't just a, you know.
• 26:20
  A1 off. With Canada freezing bank
• 26:22
  accounts, this isn't just, you know, the UK recently attacking
• 26:27
  free speech with their you know, online lefty act.
• 26:32
  This is a trend. It looks as if it's
• 26:35
  accelerating. We talked about this earlier in
• 26:38
  the week. Mexico is rolling out biometric
• 26:42
  I DS. I find that a real head
• 26:45
  scratcher, especially considering they're trying to
• 26:48
  call it voluntary again. We all know how these voluntary
• 26:53
  measures begin, Nico. It starts out as voluntary and
• 26:57
  then, of course, a crisis, whether it's manufactured or
• 27:01
  not, emerges. And that voluntary measure, once
• 27:05
  it has the infrastructure put into place, is then made
• 27:09
  mandatory. And again, this kind of thing
• 27:12
  really concerns me. And it's just another one of
• 27:15
  these dominoes that has seemed to fall in the past week.
• 27:19
  So again, it's not just, you know, isolated headlines that
• 27:22
  has this kind of, you know, with the hairs on the back of our
• 27:25
  neck standing up so to say. It's the how these things are
• 27:29
  accelerating that you know. You know, has me paying very
• 27:32
  close. Attention to what these
• 27:34
  globalists are doing and saying. Yeah, absolutely.
• 27:37
  I mean, you know, it's that slow creep that people have to pay
• 27:40
  attention to because I, I, I think that's where most people
• 27:44
  because that's how these things happen, right?
• 27:46
  Like when they roll out these laws, like it going back to
• 27:49
  1913, right, with the establishment of the income tax
• 27:52
  in the US, when that was sold to the American people, they
• 27:57
  specifically said that the income.
• 27:59
  Tax wasn't going to be more than one to 3%.
• 28:03
  They specifically said that it was only going to be targeted
• 28:06
  for the rich. Fast forward, right, You know,
• 28:10
  100 years later, 50 years later, the top tax bracket went up to
• 28:15
  90%, right? And now if you're in the middle
• 28:18
  class, you're paying like, I think it's like 20 to 25 to 30%
• 28:22
  of your income. But it was sold to the American
• 28:25
  people as one to 3%. I'll give you another example.
• 28:29
  During the Bank Secrecy Act in 1970, when they essentially
• 28:34
  every $10,000 transaction or more had to be reported to the
• 28:40
  government. If you adjust for inflation,
• 28:43
  $10,000 in 1970 is the equivalent of $80,000 today.
• 28:49
  That number didn't move. And during the previous
• 28:52
  administration, there was a bill that was introduced to Congress
• 28:55
  that specifically said that we want, we want to monitor every
• 29:00
  transaction $600.00 or above that was shut down.
• 29:05
  But just to kind of give you an example of the creep that that
• 29:09
  slow regulatory creep that Luke is referring to.
• 29:12
  So what, what really worries me a little bit right now is you're
• 29:16
  starting to see social media platforms and platforms in
• 29:19
  general, like Spotify and other platforms that are basically
• 29:23
  making the case that, hey, you need to identify yourself before
• 29:29
  you use the platform. Their justification is to check
• 29:33
  your age, but we all know how that's going to end up.
• 29:37
  It's going to be with age 1st and then it's going to be a
• 29:40
  general requirement. Now you have to ask yourself why
• 29:43
  is this phenomenon happening? It's happening because less and
• 29:47
  less people are consuming their media from the legacy media.
• 29:51
  In fact, they don't really believe in the legacy media
• 29:54
  anymore. So they're starting to consume
• 29:56
  their media on alternative platforms, and that makes it a
• 30:00
  lot more difficult for the state governments in general to
• 30:05
  control the narrative, right? And This is why they want people
• 30:10
  to identify themselves. Because if people identify
• 30:13
  themselves to these platforms, what's going to happen is what
• 30:17
  happened in China. People decide to self censor
• 30:21
  because they fear that Oh my God, I can get my money shut
• 30:24
  off. I I might not be able to take my
• 30:27
  kid to a certain school. I might not be able to travel.
• 30:30
  So what do people do? They censor themselves.
• 30:34
  You can't have freedom without privacy.
• 30:37
  I would say anonymity. There's a reason Satoshi
• 30:41
  disappeared. There's a reason he left.
• 30:45
  He there's a reason no one knows his identity, right?
• 30:49
  So you can't have freedom without privacy.
• 30:52
  And what's happening right now is privacy is becoming
• 30:55
  villainized, and they're trying to convince the world that the
• 30:59
  world is not safe unless everyone knows everyone's
• 31:02
  identity. And of course, that creates a
• 31:04
  honeypot. There's been countless examples
• 31:07
  of those honeypots being breached.
• 31:10
  And all your data just gets online, right?
• 31:13
  Whether it's the Equifax leak, whether it's it's like, it's
• 31:16
  like leak after leak after leak. Coinbase had a leak.
• 31:19
  I think Ledger had a leak, right?
• 31:20
  Then you had all your information online and then you
• 31:23
  were getting all these spam calls and the people knew your
• 31:25
  name. Like, like, no, you don't.
• 31:27
  The the world used to work right?
• 31:30
  Where people used to be able to transact privately and
• 31:34
  everything ran just fine, Right, right.
• 31:36
  So this is just a, a, a quintessential example of a
• 31:40
  power grab using the boogeyman, using, you know, Oh my God, like
• 31:44
  the world's going to come combust if you don't comply.
• 31:49
  That that's really what's happening right now.
• 31:53
  You mentioned the slippery slope, Nico.
• 31:56
  I think that's really interesting, especially as an
• 32:00
  Australian watching what's unfolding right now in my home
• 32:05
  country. Right now Australia is trying to
• 32:08
  pass this 30% unrealized capital gains, sorry, unrealized gains
• 32:16
  on retirement accounts. So that's three million
• 32:19
  Australian dollars and that. Works out to be like 1 .6
• 32:23
  million U.S. dollars. So it's really not a tonne of
• 32:27
  money, but the way that this is getting framed is, oh, look,
• 32:30
  this is just going to impact less than 1% of families in
• 32:35
  Australia. Even the mainstream media is
• 32:37
  saying look. Just the billionaires are
• 32:40
  slamming this new $3,000,000 superannuation tax change and it
• 32:46
  is true that it is only going to be affecting 80,000 households
• 32:51
  right now. But again, like you.
• 32:53
  Said Nico with the US federal income tax.
• 32:56
  It might only affect 80,000 people right now, but with
• 33:01
  inflation doing what inflation is doing, especially in
• 33:04
  Australia, this is all of a sudden going to be impacting a
• 33:08
  lot more than just 80,000 people.
• 33:12
  This is eventually probably going to be affecting 50% of
• 33:16
  people again. Aussie homes have gone from I
• 33:18
  think. It's something like $200,000.
• 33:22
  In 1973 to 2.1 million in 2025. Just extrapolate that trend out
• 33:29
  another 10 or 15 years and the large majority of people, so not
• 33:34
  80,000 but probably millions of people are going to be forced to
• 33:39
  comply with this idiotic 30% unrealized capital gains taxes
• 33:46
  on their superannuation accounts.
• 33:48
  And what I think they're creating here, Nico, is.
• 33:51
  The Perpetual hamster wheel. Even if you buy the right things
• 33:56
  in your retirement account, they're not going to let you
• 33:59
  retire because they're going to cap your upside like a 30% gain
• 34:04
  is. It's a lot.
• 34:05
  It's a lot to be stealing when you're already paying 40% income
• 34:10
  tax, you're already paying property taxes, you're already
• 34:14
  paying land taxes, all these other levies that you pay to the
• 34:17
  government in Australia, and now they want a 30% take of what's?
• 34:23
  Actually, in your retirement account, that's what scares me
• 34:25
  the most. People.
• 34:26
  Work so hard. To avoid, not avoid the people
• 34:31
  work so hard to actually put money in their savings or in
• 34:34
  their retirement accounts because they have to dodge all
• 34:37
  of those first taxes, the land taxes, the property taxes, and
• 34:40
  the 50% income taxes. And now, even if you avoid that
• 34:44
  jugular so to say, you've still got to pay a 30% tax on your.
• 34:48
  Retirement accounts, this is insane.
• 34:50
  This is a slippery slope and again, I think This is why we
• 34:53
  obviously think Bitcoin is a solution to all this.
• 34:56
  Yeah, absolutely. I mean, Bitcoin is the solution.
• 34:58
  Bitcoin is, is a solution to kind of opt out of of this
• 35:01
  madness because that's really how I'm I'm interpreting it.
• 35:05
  And I never forget the conversation that I had with
• 35:07
  Jeff Booth and the way that he frames it is like Nico, like the
• 35:11
  Fiat system has to be based on coercion because the base layer
• 35:16
  of it is fundamentally based on theft.
• 35:19
  And what do I mean by that? Like it might sound like an
• 35:21
  exaggeration what I just said, but if you just break it down
• 35:24
  right, so. There's a social contract for
• 35:28
  for taxes. There's a social contract for
• 35:30
  property tax. We've all agreed on those
• 35:33
  things, you know, as a collective society, right, for
• 35:37
  better or for worse. But we've agreed to them.
• 35:39
  They're laws, right? You have to.
• 35:41
  Follow it you. Don't want to break the law, but
• 35:43
  what people have not agreed to is the the money tax, the
• 35:48
  inflation tax, the debasement tax.
• 35:51
  We've never agreed to that. No one has ever agreed to that.
• 35:54
  And how politicians treat it is like, it's like as if it's a,
• 35:57
  it's a part of nature. It's like as if you know, for
• 36:01
  some reason, you know, money has to lose purchasing power in
• 36:04
  order to function. And that's the thing, it doesn't
• 36:09
  need to lose purchasing power in order for it to function.
• 36:12
  That's what Bitcoin proves. So how do you get people to go
• 36:16
  along with a system that debases your savings or steals from you?
• 36:23
  You have to coerce people into that said system.
• 36:28
  And the more the the the, the more the system breaks, the more
• 36:32
  the system causes more and more wealth inequality, The more the
• 36:37
  system takes the opportunity away from the younger
• 36:40
  generations, the more people will seek an alternative.
• 36:44
  And that's what's happening with Bitcoin.
• 36:47
  And that's why, to use Christine Lagarde's own words, that's why
• 36:52
  people are seeking the escape valve.
• 36:54
  If Fiat was so fantastic, if the legacy system was working
• 36:59
  perfectly, Bitcoin wouldn't exist.
• 37:02
  Bitcoin was a direct response to what Satoshi knew the central
• 37:08
  bankers were going to do in the genesis block.
• 37:11
  It literally says, and I'm paraphrasing here, Chancellor on
• 37:15
  the brink of the second bailout for banks, Bitcoin was a direct
• 37:20
  response to monetary debasement. That's what Bitcoin was for.
• 37:26
  So again, as governments continue to move forward with
• 37:31
  this coercive system, they, they don't have a choice but to force
• 37:35
  people in because if for if people had a choice between the
• 37:38
  two systems, they're obviously going to choose Bitcoin.
• 37:41
  I'll give you guys an example, like an actual case study that
• 37:44
  happened. I believe it was Nigeria, right,
• 37:47
  that launched the one of the first CBD CS.
• 37:49
  It was called the E Naira. It was a complete and total
• 37:54
  catastrophe. It was a fail.
• 37:55
  No one wanted to adopt it. Why?
• 37:58
  Because it didn't. It didn't solve the inflation
• 38:01
  problem and it didn't solve the censorship problem.
• 38:05
  You know what they did? They arrested a Binance
• 38:08
  executive in Nigeria. Was Binance causing people not
• 38:14
  to adopt the Enira or the local Fiat currency?
• 38:18
  No, what the only thing Binance was doing was Binance was
• 38:22
  providing an off ramp so that people could get out of the
• 38:26
  Enira into something like Bitcoin.
• 38:30
  So instead of governments reacting with like, OK, guys, we
• 38:33
  got to be like responsible with the money because if not like
• 38:37
  people are just going to opt out.
• 38:39
  This is why you're seeing such mass scale adoption of stable
• 38:42
  coins in the global S because people are like, you know what,
• 38:45
  like I don't feel like dealing with Ebola.
• 38:47
  I don't feel like dealing with the peso.
• 38:49
  I want something that's more stable.
• 38:51
  So what do they say? OK, like these stable coins look
• 38:53
  great. You know what the what the next
• 38:54
  step is after stablecoin adoption, It's Bitcoin adoption
• 38:58
  because they're going to come to a realization that, hey, you
• 39:01
  know what, like these stable coins aren't so stable, right?
• 39:04
  So yeah, listen, every, all roads lead to Bitcoin.
• 39:07
  Governments have no choice but to become more and more and more
• 39:13
  dystopian and more and more tyrannical because that's the
• 39:17
  only way people are going to willingly use their system.
• 39:21
  And what Bitcoiners are advocating for is a is a system
• 39:24
  based on incentives. Bitcoin doesn't have ACEO.
• 39:28
  Bitcoin doesn't have a state that's backing it.
• 39:31
  It literally has an incentive structure so that people adopt
• 39:36
  it because they want to adopt it because it's better money.
• 39:39
  And I'll give you a great example of perhaps not Bitcoin
• 39:43
  being adopted, but the incentive structure that Bitcoin creates.
• 39:48
  So when the CCP banned Bitcoin mining within their, when within
• 39:52
  their borders, 50% of the Bitcoin hash rate disappeared
• 39:57
  overnight. Within nine months without any
• 40:01
  central party or Co or authority, the hash rate
• 40:06
  recovered. And now the hash rate is making
• 40:08
  all time highs. So the hash rate decentralized
• 40:11
  in the process without any central authority telling miners
• 40:16
  to plug in those miners. The Bitcoin network created an
• 40:20
  incentive structure. The difficulty dropped.
• 40:23
  That incentivized entrepreneurs to say, hey, guess what guys,
• 40:27
  there's literally 50% more rewards on the table, let's go
• 40:31
  set up mining operations. That's an incentive based model.
• 40:37
  The Fiat system is a coercive based model.
• 40:40
  My money is on incentives versus coercion, Luke.
• 40:46
  You're muted, my friend. I could not agree more.
• 40:49
  I think I've got a couple of interesting charts that show
• 40:53
  that even the incredibly powerful Chinese collective
• 40:58
  estates couldn't even ban Bitcoin mining.
• 41:01
  They obviously tried in 2021 with this little chart.
• 41:06
  Here you can see mysteriously six months after the China
• 41:12
  Bitcoin mining ban in March 2021, hash rate started popping
• 41:16
  back up online and I saw this recently come out in early 2025.
• 41:21
  It looks as if Chinese pools are still dominating.
• 41:25
  This chart shows as of July 2024, Chinese pools still
• 41:31
  represent 55% of the hash rate. Again, differentiations needs to
• 41:36
  be made. A pool is not necessarily
• 41:38
  indicative of hash power. But I think like this
• 41:42
  conversation here. The big battle that is being
• 41:46
  fought is over our money. If we can't speak freely over
• 41:51
  the Internet, what makes you think they're going to let you
• 41:53
  transact freely over the Internet?
• 41:55
  Or what makes you think they're even going to allow you to save
• 41:59
  and store money? This isn't the best child, but
• 42:02
  it shows all of the authoritarian regimes around the
• 42:04
  world. Again, there's 4 billion people
• 42:07
  around the world living under an authoritarian regime.
• 42:11
  And again, countries not counted in the 4 billion people living
• 42:15
  under totalitarian, you know, control countries like Canada.
• 42:21
  Canada was voted, what, the fifth most democratic country
• 42:24
  around the world. But you still can't participate
• 42:28
  in a freedom convoy without having your bank account closed
• 42:31
  in the great democratic country of Canada.
• 42:34
  So I think this really goes to show, look, globally, there is a
• 42:37
  war over whether you can actually earn your own money and
• 42:41
  speak freely on the Internet. Nico, I've got so much more to
• 42:44
  cover, but I might hold back some of the stuff for the next
• 42:48
  segment of the show. And maybe we talk a little bit
• 42:51
  more about where this goes after the jump.
• 42:54
  Absolutely guys, we have so much to cover.
• 42:56
  It's going to be a fantastic show.
• 42:58
  If you guys are enjoying it so far, make sure to smash that
• 43:02
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• 43:04
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• 43:06
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• 44:01
  All right everybody, let's get to the numbers.
• 44:02
  We have tons to talk about. We're going to be right back in
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  All right everybody, at the time of recording the Bitcoin price
• 45:43
  is $113,440. You have an opportunity to buy
• 45:47
  Bitcoin at a discount right now. You got to stack that dip.
• 45:52
  The block height is 908,755 sats per dollar. 882 market cap, 2.26
• 45:59
  trillion Bitcoin versus gold market cap 9.46% decline from
• 46:03
  all time high. Right now if you're buying
• 46:04
  Bitcoin, you're getting at at a 8% discount.
• 46:07
  Realize monetary inflation. Is .84%, Ladies and gentlemen,
• 46:11
  we've been talking about how the Fed has been acting politically
• 46:16
  over the last couple of months. We've been saying, listen,
• 46:20
  Powell's not lowering rates. Operation Choke .2 Point O was a
• 46:25
  disaster. Senator Lummus on the Senate
• 46:27
  floor yesterday was basically saying that the the Fed is a
• 46:31
  black hole. We cannot get information out of
• 46:33
  them. And even with Freedom of
• 46:36
  Information Act requests, the Fed is not answering response.
• 46:41
  We know that there was a there, there was claims and I asked
• 46:45
  Senator Lummus this, Senator Lummus this when I interviewed
• 46:47
  her in DC, there were claims that Fed officials or or better
• 46:52
  said that officials within the government were destroying
• 46:55
  documents as it relates to Operation Choke Point 2.0.
• 46:59
  Simultaneously, we get accused or Bitcoin gets accused that
• 47:04
  it's so-called private money that we are these shadowy
• 47:08
  supercoders. I don't know about you guys, but
• 47:11
  if you can't audit the Fed, if the Fed is not responding to
• 47:14
  requests by the people, if the Fed is not responding to
• 47:18
  requests by United States Senator, that sounds super
• 47:23
  shadowy and super sketchy. And if you compare that to
• 47:27
  Bitcoin, Bitcoin's an open Ledger.
• 47:30
  You can download the Ledger at any time.
• 47:33
  Anyone could make more Bitcoin by mining it.
• 47:35
  You can't just make more dollars.
• 47:37
  Only the Fed has that privilege. So I don't know what sounds more
• 47:40
  shadowy and sketchy to you between the two systems.
• 47:44
  And I think this is a classic case of central banker
• 47:48
  projection. They're projecting onto US what
• 47:50
  it is they are guilty of themselves themselves.
• 47:52
  And I think right now, they're not acting in an independent
• 47:56
  manner. They're acting in a manner that
• 47:58
  clearly shows that they're politically compromised.
• 48:02
  So let's check out this clip from the All In podcast.
• 48:06
  What's your take on this? The GDP boomed in, you know, 3%,
• 48:10
  which is pretty great. The problem, you know, the
• 48:14
  problem that Jerome Powell has is that he's trying to smooth it
• 48:17
  because it allows him to justify his political decision.
• 48:23
  But the reason why you have to segregate Q1 and Q2Q1 was before
• 48:28
  tariffs and Q2 was after tariffs.
• 48:30
  So I think you have to segregate these two things.
• 48:32
  And if you look at the run rate from Q2, what you're probably
• 48:35
  going to see in Q3 and beyond is more similar to Q2, which is to
• 48:40
  say a large surplus, good GDP expansion, and moderating
• 48:46
  inflation. So why does the Fed not cut?
• 48:51
  Because at this point, not cutting is the only thing that
• 48:54
  you can do to slow the Trump administration down going into
• 48:57
  the midterms if you wanted to politicize the job.
• 49:03
  If however, on the other hand, you just take the data as is and
• 49:06
  you ignore Q1 because it was pre tariff and you start to look at
• 49:09
  Q2 and you project forward. If you inject 100 basis point
• 49:13
  cut into the economy, this thing is going to go gangbusters and
• 49:16
  Trump is going to look like an economic genius going into 2026.
• 49:19
  So I. Mean there you have Shamat and
• 49:22
  he's good friends with David Sachs, who's the AI cryptos are
• 49:28
  and they actually do that podcast together and he's
• 49:31
  saying. What simply Bitcoin has been
• 49:33
  saying for months now that the Fed has been acting politically
• 49:38
  and I don't think they want to give Trump this win heading into
• 49:41
  the midterms. The midterms are less than a
• 49:44
  year and a half away. If they lower rates and markets
• 49:48
  start to RIP, remember the prediction was that the tariffs
• 49:51
  were going to destroy the market, they were going to sink
• 49:54
  everything. The exact opposite happened.
• 49:57
  There is no reason where inflation is right now and the
• 50:01
  job numbers are right now and the increase in GDP.
• 50:04
  There is no reason as to why Powell shouldn't have lower
• 50:08
  rates by now. The only reason that I can think
• 50:12
  of is they don't want to make Trump look good because if Trump
• 50:15
  looks good heading into the midterms, that means guess what,
• 50:19
  the pro Bitcoin party remains in power and for the for the
• 50:25
  supporters of a central bank digital currency, which.
• 50:29
  Could be a central bank, you know.
• 50:32
  How's you thinking? Like how's you thinking man?
• 50:36
  Anyways Luke, what's your take on all this bro?
• 50:37
  I think is a great summary by Shamont.
• 50:40
  Yeah, I mean it, certainly. Has me thinking a lot what is
• 50:44
  actually happening in America? Why won't power cut rates?
• 50:48
  I just get a giggle each week looking at the feud between
• 50:51
  Trump and Power. I think we showed you guys
• 50:54
  earlier in the week what is it? Trump went down to 1 of drone
• 50:57
  powers buildings, obviously highlighting the gross
• 51:02
  misallocation of capital that not just the Federal Reserve but
• 51:06
  also the government is, you know, being forced to put.
• 51:10
  Up. With OK, I think it's, it's an
• 51:12
  interesting angle to consider that maybe the Fed is actually
• 51:17
  acting politically and not based on economics, again, I think, I
• 51:22
  think. Over the next six months, 12
• 51:25
  months. I think that battle is really
• 51:27
  going to escalate. Before we jumped on this call
• 51:30
  today, we were talking about the odds of a Fed rate cut in
• 51:34
  September. That's now at something like
• 51:37
  90%. So if we do finally see rate
• 51:41
  cuts come out of the Fed, and they do, and they're forced to
• 51:45
  bend the knee to the economic data that Chamath was talking
• 51:49
  about on that All In podcast, just imagine what Bitcoin's
• 51:53
  going to do. We haven't even seen the
• 51:56
  liquidity cycle really kick into full gear yet.
• 52:00
  Again, we might show some charts in a moment that have a look at
• 52:03
  how global liquidity moves in these four year waves.
• 52:06
  And it's always when the money supply is expanding the most in
• 52:11
  these four year waves. That's when we see Bitcoins bull
• 52:15
  runs typically happen. I think in 2013, global money
• 52:18
  supply increased by something like 22%.
• 52:21
  Bitcoin had that massive parabolic run to $1300 in 2017.
• 52:26
  Four years later, I think we saw 26% increase increases in global
• 52:30
  money supply. What did Bitcoin do?
• 52:32
  It ran from 1K to 20K in nine months.
• 52:35
  Obviously, 2020, everybody remembers what happened in 2020
• 52:38
  and 2021. Global money supply up by 50%.
• 52:42
  Bitcoin rallied from 10K to 65K. Really.
• 52:46
  Aggressively before that bull run was cut short and now I
• 52:50
  think we're just kind of waiting for the global money supply to
• 52:53
  really increase. It's only moved up the last time
• 52:57
  I checked it by about 5%. So those keeping count at home
• 53:01
  will know, hang on a minute, this liquidity cycle hasn't even
• 53:04
  really started yet and we're already at 120 K.
• 53:08
  What happens when the global money supply hits that 20
• 53:11
  percent, 26% or even maybe 50% expansion that we're used to
• 53:16
  seeing? I don't think we're talking
• 53:18
  about $150,000 Bitcoin. I don't even think we're talking
• 53:22
  about $250,000 Bitcoin. I don't know where.
• 53:25
  The price is going in the short or medium term, but I think
• 53:28
  most. People.
• 53:29
  Are not ready for what comes when this big Prince that Larry
• 53:34
  Leppard is talking about finally arrives.
• 53:37
  And I just think eventually Powell be forced to pivot and
• 53:42
  cut rates. Well, like there's a lot of
• 53:45
  interesting things happening right now with the Dixie index
• 53:48
  absolutely slumping. So like multi year lows.
• 53:51
  So again, I'm really interested in what's happening here with
• 53:54
  the Fed and central bank. Who knows?
• 53:57
  Nikka, are you smelling a little bit of a money printing wave
• 54:01
  coming? And you know, what do you think
• 54:04
  this is going to do to Bitcoin? Yeah, absolutely.
• 54:06
  I mean, I, I, I just believe in Larry Laparde's thesis on this.
• 54:10
  Like the big print, it's coming. It's coming hard.
• 54:13
  And, you know, nothing stops this train, to quote Lynn Alden,
• 54:18
  right? They're going to have to print.
• 54:20
  They can only resist this for so long.
• 54:24
  Eventually, you know, again, they, they don't collect enough
• 54:27
  tax revenue to fund, you know, the, either the, the bill
• 54:33
  initiatives that, that Trump has in the big beautiful bill, or
• 54:37
  just the overall expenditures on a yearly basis that the US
• 54:42
  government has. I mean, if you do the math, the
• 54:45
  US government spends $2 trillion more every single year than it
• 54:49
  collects in tax revenue. To put that into perspective,
• 54:52
  that's larger than the GDP of most countries, right?
• 54:55
  So they have to. Print that difference.
• 54:58
  They don't have a choice, right? So, you know, again, they're
• 55:01
  going to print if they print or sorry, when they print,
• 55:06
  obviously that's really, really good or scarce assets.
• 55:10
  And the scarcest asset is Bitcoin.
• 55:12
  And again, this was baked into the theory.
• 55:15
  This was baked into the genesis block.
• 55:17
  Satoshi knew this was inevitably going to happen.
• 55:21
  Bitcoin would not exist. If governments were actually
• 55:24
  responsible with money, but I I don't think they can help
• 55:27
  themselves, but I don't think that there was.
• 55:30
  And to quote Hayek right, that that very famous video.
• 55:33
  I don't think that they ever thought that there was going to
• 55:36
  be this sly, roundabout way that was going to pop out, that was
• 55:40
  going to pop up out of nowhere, this magic Internet money that
• 55:44
  was going to be able to compete with their money and also
• 55:48
  simultaneously not be able to be shut down, right?
• 55:52
  I don't think that they were aware of that.
• 55:54
  I think that hit him, you know, out of left field.
• 55:57
  And this is where we're at right now anyways, guys, it's going to
• 56:01
  be incredible show. We still got the news to cover.
• 56:03
  And then, of course, we got Luke Mikich joining us on today's
• 56:07
  show. And we're going to be talking
• 56:09
  about the power law, diminishing returns, where's the bull market
• 56:13
  and what's going to be happening at the end of 2025?
• 56:15
  What's Luke's perspective on all that?
• 56:17
  So all of that is yet to come, guys.
• 56:19
  Stay tuned. We're going to be right back.
• 56:21
  We're going to hit the new segment.
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• 58:47
  Anyways. So I love how they get like a
• 58:50
  like a cow from Switzerland. Anyways, the the the headline is
• 58:53
  crypto treasuries expand as public companies make bold
• 58:57
  Monday moves. It goes on to say Monday kicked
• 59:00
  off with a flurry of treasury announcements as major digital
• 59:03
  asset firms expand their crypto reserves, underlying the growing
• 59:08
  institutional embrace of blockchain native assets.
• 59:11
  Bit mine a bit, bit. Yeah, bit.
• 59:14
  Mine Emerging Technologies now holds the world's largest shit
• 59:18
  coin treasury at $833,000 worth of ETH, or $2.9 billion.
• 59:24
  Launched just 35 days ago, Bit Minds aggressive ETH acquisition
• 59:29
  Strategy positions it as the largest overall crypto treasury
• 59:33
  behind Strategy and Mara Holdings, according to the press
• 59:37
  release now. What's really interesting about
• 59:39
  this? Is that they're equating, you
• 59:42
  know, altcoins? To Bitcoin, which I find
• 59:45
  interesting, I don't think they equate.
• 59:47
  And also it's basically measuring up saying like, look
• 59:50
  that this company is on par with all these other Bitcoin, with
• 59:54
  all these other treasury companies.
• 59:56
  I fundamentally disagree with that.
• 59:58
  If you look at the value of Etherium versus Bitcoin, not in
• 1:00:02
  dollar terms, I don't think it has made all time highs in
• 1:00:04
  dollar term. But if you just put Bitcoin to
• 1:00:07
  Etherium, Etherium has just lost value as it compares to Bitcoin.
• 1:00:11
  So I think in the in the long run, I think it's going to be
• 1:00:15
  very short sighted. From that company bit my bit
• 1:00:19
  mine. Immersion technologies, anyhow.
• 1:00:22
  So a quick update on the Bitcoin treasury companies.
• 1:00:25
  Michael Saylor continues to lead the pack by far with 628,000
• 1:00:32
  Bitcoin. Mera is in second place with
• 1:00:35
  50,000 Bitcoin. I think Jack Mahler's SoftBank
• 1:00:39
  and Tethers Company 21 holds 43,000 Bitcoin.
• 1:00:44
  And then I think this is David Bailey's I don't know Bitcoin
• 1:00:47
  standard treasury company goes in with 30,000 Bitcoin.
• 1:00:51
  Now again, something to pay attention to is that the
• 1:00:55
  President Trump is number six on hit on this list.
• 1:00:59
  The president of the United States has the 6th largest
• 1:01:03
  Bitcoin treasury company. What do you think he's going to
• 1:01:06
  do? He's going to pump the F out of
• 1:01:08
  Bitcoin. He's going to pump his bags,
• 1:01:10
  which is going to pump your bags.
• 1:01:12
  It's fantastic. I mean, you could have never
• 1:01:14
  have imagined this in a million years.
• 1:01:17
  Last year, we thought we were going to get like we, we thought
• 1:01:20
  this whole industry was going to get banned.
• 1:01:22
  Now the president of the United States has the 6th largest
• 1:01:26
  Bitcoin treasury company in the world.
• 1:01:29
  Trump owns 50% of this company, by the way, and it has his name,
• 1:01:33
  Trump Media and Technology Group Corp.
• 1:01:35
  So it's very, very interesting. Last thing I want to touch on, I
• 1:01:38
  want to get Luke's thoughts is this Bloomberg article.
• 1:01:41
  Michael Sayler's Strategy makes its third largest Bitcoin
• 1:01:45
  purchase ever Michael Sayler's Bitcoin juggernaut is at it
• 1:01:48
  again, buying near the highs with the kind of capital markets
• 1:01:52
  firepower no other crypto firm can match.
• 1:01:56
  Strategy formerly loan as MicroStrategy disclosed Monday
• 1:02:00
  that it bought $2.46 billion of Bitcoin in the past week, its
• 1:02:06
  third largest purchase by dollar value since it began
• 1:02:09
  accumulating the cryptocurrency five years ago.
• 1:02:12
  The company acquired 21,000 Bitcoin between July 28th and
• 1:02:18
  August 3rd purchase, pushing its total holdings to 628,000
• 1:02:24
  Bitcoin, according to a filing with the SEC.
• 1:02:26
  See this takes the value of the companies Bitcoin holdings to
• 1:02:30
  more than 71 billion at current prices.
• 1:02:34
  If Bitcoin 10X is I don't think it's an if, I think it's a
• 1:02:38
  matter of when. When Bitcoin 10X is, that's 710
• 1:02:43
  billion dollars in Bitcoin, dude, that is absolutely wild.
• 1:02:49
  Michael Saylor has first mover advantage.
• 1:02:52
  I don't think anyone is going to be able to catch up to this.
• 1:02:55
  Every time people are going to want to buy Bitcoin or try to
• 1:02:58
  match that, the price of bitcoins going to go up.
• 1:03:01
  I mean 628,000 Bitcoin, that's more Bitcoin that's been mined
• 1:03:06
  in like last couple years, man. Like he's gobbling up all the
• 1:03:09
  supply. The question that I have for
• 1:03:11
  you, Luke, is why in the hell is the price not going up?
• 1:03:15
  Like they're buying all this Bitcoin, You know, whether it's
• 1:03:19
  governments, whether it's these companies, they're just gobbling
• 1:03:22
  up left and right. And, you know, it seems like the
• 1:03:26
  Bitcoin price has literally gone sideways for the last seven
• 1:03:30
  months, Luke. Yes, I think the big boys
• 1:03:33
  getting into the Bitcoin space today, I think they're
• 1:03:36
  accumulating Bitcoin in a far more methodical manner than the
• 1:03:41
  previous participants in a bull run would do.
• 1:03:44
  OK, think back to 2013 and 2017. The reason why we had these big
• 1:03:49
  parabolic spikes was because retail just chases the green
• 1:03:53
  days. Retail would turn a 10% day in
• 1:03:57
  Bitcoin into a 20% day tomorrow, and then the day after they're
• 1:04:01
  going to. See the the big plus 20%, you
• 1:04:04
  know, Green Day of Bitcoin and they're just going to keep
• 1:04:06
  chasing it higher and higher and higher, OK.
• 1:04:10
  The big boys who are dominating the market today, they're not
• 1:04:13
  like retail. These guys are very methodically
• 1:04:17
  buying Bitcoin, their dollar cost averaging, they're buying
• 1:04:20
  on the days when Bitcoin is low and they're averaging into their
• 1:04:23
  position and they're trying to buy as much Bitcoin at a low
• 1:04:28
  price as they possibly can. And they're just going to ride
• 1:04:31
  this thing up. They're going to continue doing
• 1:04:33
  what they're doing. They're going to continue buying
• 1:04:35
  Bitcoin on the dip, methodically DCA and into Bitcoin.
• 1:04:38
  I think it's really interesting that article you brought up,
• 1:04:41
  Michael Saylor just made his third biggest buy ever.
• 1:04:44
  Again, this guy has been buying Bitcoin for literally five years
• 1:04:47
  now. We'd actually be coming up on
• 1:04:49
  the five year anniversary very soon, August 2025, and he just
• 1:04:55
  made his third biggest buyer ever.
• 1:04:56
  I think this is huge. I think this is massive.
• 1:04:59
  Why is the price of Bitcoin not ripping?
• 1:05:02
  I think we're kind of seeing a little bit of a difference in
• 1:05:05
  what we're seeing this cycle. I think that because the
• 1:05:09
  dominant player in the market is being a lot more methodical with
• 1:05:12
  their buyers. I don't think we'll see the
• 1:05:16
  parabola happen at the same time of the cycle.
• 1:05:19
  That we used to see in it previously.
• 1:05:22
  Oh, that's interesting. It's going to be later.
• 1:05:24
  It's going to be much later because we don't have retail
• 1:05:27
  yet. That's that's my take.
• 1:05:28
  What are your thoughts on that, Nick?
• 1:05:30
  Do you think retail is even? Is either is even going to come
• 1:05:33
  back? Yeah, I think.
• 1:05:36
  Go. Ahead.
• 1:05:36
  Yeah, we, yeah, we'll. Get retail.
• 1:05:38
  I think we will get retail. I find it really interesting
• 1:05:43
  that I, I think the meta this cycle is going to be Bitcoin
• 1:05:46
  treasury companies. We're already seeing this now.
• 1:05:49
  People will start a Twitter account two weeks ago, they
• 1:05:53
  start typing away and talking about, you know, Bitcoin,
• 1:05:56
  treasury, stocks and all of this, you know, 500%.
• 1:05:59
  Yield gains by buying MSTY. And.
• 1:06:02
  They blow their Twitter account up to 50,000 followers in a.
• 1:06:04
  Week So I think the new kind of narrative and meta is this idea
• 1:06:09
  of Bitcoin treasury companies and you know the yield you can
• 1:06:13
  get by buying these treasury companies and a lot of people
• 1:06:16
  are framing these treasury companies as these penny stock
• 1:06:20
  equivalents in the Bitcoin space.
• 1:06:22
  So I think. Retail was going to chase the
• 1:06:25
  treasury company stocks. And what I find really
• 1:06:27
  interesting is when retail trade chases these stocks, stock price
• 1:06:33
  goes up and guess what this does?
• 1:06:35
  This allows the treasury company to accumulate more Bitcoin.
• 1:06:39
  And again, this is going to be, I think a feedback loop that
• 1:06:42
  feeds on itself. And I think we're going to see a
• 1:06:45
  lot of retail buy spot Bitcoin. Don't get me wrong, we're going
• 1:06:48
  to see that, but I think we're going to see a lot of retail
• 1:06:51
  that would otherwise be buying NFTS or Icos in 20, 17.
• 1:06:55
  I think these guys are probably going to be buying the Bitcoin
• 1:06:58
  treasury company stocks this year.
• 1:07:01
  And I think this will create that parabola.
• 1:07:03
  I just think it's going to happen a little bit later
• 1:07:06
  because all of this capital that's been pushed into Bitcoin
• 1:07:09
  treasury stocks, these guys like Metaplanet or MicroStrategy,
• 1:07:14
  they're not saying, OK, I raised a billion dollars, I'm buying a
• 1:07:16
  billion dollars of Bitcoin for smash buy.
• 1:07:18
  It's very different. They're taking the capital from
• 1:07:21
  retail, this frenzy capital and they're slowly and methodically
• 1:07:26
  averaging into Bitcoin to try to buy Bitcoin at the best price
• 1:07:29
  possible. So yes, we're still going to get
• 1:07:31
  the parabola, but I think this cycle is going to be a little
• 1:07:33
  bit of delayed just purely because of that mechanism.
• 1:07:36
  Yeah, I've, I've, I've heard that before the the like the
• 1:07:41
  extended cycle into into 2026. So you you believe you believe
• 1:07:48
  in that theory, Is that correct? I do and I don't believe in that
• 1:07:53
  theory because of all of these stupid models that people have.
• 1:07:57
  I saw an interesting model recently.
• 1:07:59
  It was the pie cycle top indicator.
• 1:08:02
  This thing like perfectly nailed the top in both tops in
• 1:08:06
  20/13/2017 and 20/21 I saw this. Recently it was.
• 1:08:10
  Projecting and forecasting a Bitcoin top in January of 2027.
• 1:08:16
  This kind of operates and projects based on the moving
• 1:08:19
  averages. So it it can kind of predict
• 1:08:22
  when bitcoins getting really overheated, that short term
• 1:08:24
  moving average starts spiking and it starts pulling away from
• 1:08:28
  that long term moving average. I I find it interesting that
• 1:08:31
  models like that have been. So you know.
• 1:08:34
  Predictable recently, but I think that kind of thing
• 1:08:37
  reflects bitcoins price action. We're not seeing these massive
• 1:08:41
  gaps up bitcoins methodically increasing and stair stepping in
• 1:08:45
  price and in value. And I do.
• 1:08:48
  I just think the the top for Bitcoin is, you know, it's 2026,
• 1:08:52
  it's 2027. It's not because of all these
• 1:08:55
  fancy models and lines on charts that people are drawing.
• 1:08:58
  I think it's purely because the fundamentals have completely
• 1:09:02
  shifted and we're in a bull run that we've never seen before.
• 1:09:06
  We've never seen coins on exchanges decrease, and we've
• 1:09:09
  never seen the billionaires and public companies do what they're
• 1:09:12
  doing today. Guys, if you guys are enjoying
• 1:09:17
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• 1:09:37
  Legendary code. I have to come up with the
• 1:09:39
  nickname for Luke. The best Bitcoin YouTube in the
• 1:09:42
  game. Luke, Luke Mikic in the coho
• 1:09:45
  seat. Guys, we're gonna be right back.
• 1:09:47
  We're gonna hit the culture segment.
• 1:09:48
  We're gonna be right back in just a second.
• 1:09:50
  I I just gave you just gave you Opti's nickname.
• 1:09:53
  Can't do that. You gotta you gotta get your own
• 1:09:55
  nickname, Luke. I just, I just, I just call
• 1:09:58
  myself poor man's Opti. That's my name when I get to
• 1:10:00
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• 1:10:03
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  IO. Join today where Bitcoin meets
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  freedom. All right, everybody, we are
• 1:12:07
  back and we got Luke Mikic in the house.
• 1:12:09
  There's a couple topics. So it seems like we got a super
• 1:12:12
  chat. Do want to give a shout out to
• 1:12:13
  who that person was? I'm scrolling I'm I found it
• 1:12:19
  here SEC breaking news. I appreciate the the $2.00 bit
• 1:12:24
  tunes. So anyways, we do have Luke
• 1:12:27
  Mikic in the house and Luke, there's a couple topics that you
• 1:12:34
  know that that that trigger you brother in a good way.
• 1:12:41
  And what I will say is what do you think about the power law?
• 1:12:47
  Power law, Don't even get me started on the power law.
• 1:12:50
  I've actually, I brought up a chart, It's a different chart.
• 1:12:54
  It's not the power law chart, but I kind of feel the same way
• 1:12:57
  about this chart as I do the power law.
• 1:12:59
  I just think a lot of people are really setting themselves up for
• 1:13:02
  danger, this Bitcoin bull run. A lot of people think that we
• 1:13:06
  can model what happened in 2013, 20/17/2021 and just project that
• 1:13:13
  forward into the future. I just think a lot of people are
• 1:13:17
  probably planning to sell Bitcoin far too soon, this bull
• 1:13:21
  run, purely because they're using faulty data.
• 1:13:24
  And I just think the power law uses faulty data.
• 1:13:27
  I just think taking the data from 2008 to 2020 and
• 1:13:32
  extrapolating that force, I just think it's incredibly dangerous
• 1:13:35
  because I just don't think that we're going to be seeing
• 1:13:38
  diminishing returns every single Bitcoin bull run.
• 1:13:40
  And that is what the how a law is projecting.
• 1:13:43
  It's using data from that OA 2020 era where the number of
• 1:13:48
  Bitcoin on exchanges only rose and there was no demand from
• 1:13:52
  billionaires, public companies, nation states, pension funds and
• 1:13:56
  all of the big capital allocators that actually matter
• 1:13:59
  like BlackRock. And we're taking this data and
• 1:14:02
  we're projecting it. Forwards.
• 1:14:03
  It makes zero sense. It makes 0 logic.
• 1:14:07
  Based on this logic, these people are saying that it's.
• 1:14:11
  Going to take another 15 years for Bitcoin to climb to a $5
• 1:14:16
  trillion market cap asset because it's taken us 15 or 16
• 1:14:20
  years to get to 2.5 trillion where we are today.
• 1:14:23
  So based on this model and this data, that would mean that for
• 1:14:28
  diminishing returns to be correct, Bitcoin's going to take
• 1:14:31
  like, what, 45 more years to get to a $10 trillion market cap?
• 1:14:37
  That's ridiculous. That's, I think, idiotic.
• 1:14:40
  I don't think diminishing returns has any logic to it.
• 1:14:45
  I also don't think the power law has any logic to it.
• 1:14:49
  I've already disproved, actually on Twitter, the power laws
• 1:14:52
  already failed for like 3 billion people.
• 1:14:56
  What about the 200 million people in Nigeria?
• 1:14:59
  Well, the Nigerian naira, you know the Bitcoin price in
• 1:15:03
  Nigerian naira, that doesn't follow a power law.
• 1:15:06
  What about Pakistan doesn't follow a power law?
• 1:15:09
  What about the people? Living in Turkey, 85 million of
• 1:15:12
  them, we're not just talking about little small Zimbabwe with
• 1:15:15
  hyperinflated dollars 85 million people in Turkey would have
• 1:15:19
  gotten absolutely. Wrecked if they sold their
• 1:15:22
  Bitcoin based on a power law, and this is what I think is just
• 1:15:26
  really dangerous. I expect the large majority of
• 1:15:31
  Fiat currencies to continue doing what they've done over the
• 1:15:34
  past five years and that's collapse again, Argentina. 45
• 1:15:39
  million people who would have gotten wrecked.
• 1:15:42
  If they had. Listened to the power law
• 1:15:44
  because they would have sold Bitcoin because it's on stupid
• 1:15:46
  line on a chart and Bitcoin has exploded higher.
• 1:15:49
  So I just don't think the power law.
• 1:15:52
  Has any validity? I don't think it should be
• 1:15:55
  traded on. I don't think it should be
• 1:15:57
  listened to. I just think it's using faulty
• 1:16:00
  data and I just think all models are going to get broken to the
• 1:16:04
  upside and people listen listening to this data, they're
• 1:16:07
  going to get wrecked and they're going to sell their Bitcoin far
• 1:16:10
  too soon. So that's kind of what I think
• 1:16:12
  about the data and that power law, and I just think it's a
• 1:16:15
  matter of time before it fails. Now again, I'm not saying that
• 1:16:18
  it's impossible that Bitcoin doesn't top at $200,000 this
• 1:16:23
  cycle. Again, I'm I don't have the
• 1:16:25
  hubris to say I have a monopoly on the truth.
• 1:16:29
  You have to follow my data because it's backed by math and
• 1:16:32
  science and I have a PhD. I'm not saying that.
• 1:16:35
  Sure, there's a 10% chance Bitcoin's already topped.
• 1:16:38
  Maybe there's a 10% chance Bitcoin does top at 150 or 200 K
• 1:16:43
  like the power law predicts. And I have.
• 1:16:45
  To put up and listen to that. Horrendous narrative for another
• 1:16:50
  five years before being proven right.
• 1:16:53
  That's a possibility, but I just think in the long term it will
• 1:16:56
  be. Broken.
• 1:16:58
  Yeah. I, I, I I agree with that by the
• 1:17:00
  way, Just I I'm more on the kind of S curve adoption type of
• 1:17:05
  route. I don't believe in this.
• 1:17:09
  I I think eventually, you know, eventually, like, like just look
• 1:17:13
  at all the things that have fallen into place.
• 1:17:15
  Oh, we also got a super chat from Ron.
• 1:17:17
  Ron, appreciate the $10 throw pillow on Opti Nucao.
• 1:17:24
  Thank you, Ron. But yeah, so you know, the way
• 1:17:28
  that I'm looking at it, Luke, is like if you look at the
• 1:17:30
  geopolitical situation of Bitcoin, right, you have the you
• 1:17:36
  have. The.
• 1:17:38
  Basically, the embracement of Bitcoin by the Treasury
• 1:17:41
  Secretary, by President Trump. President Trump literally has
• 1:17:44
  the 6th largest Bitcoin treasury company.
• 1:17:48
  You have the overwhelmingly success, the overwhelming
• 1:17:52
  success of MicroStrategy in the US capital markets.
• 1:17:56
  You have Bitcoin treasury companies popping up left,
• 1:18:00
  right, everywhere, right. And this is just beginning.
• 1:18:04
  That does not signal to me that we are reaching near a top
• 1:18:09
  because all of it. Listen, I'll put it to you this
• 1:18:11
  way, very simple, very simple guys.
• 1:18:14
  When Trump was inaugurated, the Bitcoin price was 109,000.
• 1:18:19
  The Bitcoin price currently is at 113,000.
• 1:18:24
  Did the fundamentals of Bitcoin improve since Bitcoin was at
• 1:18:28
  109,000? The fundamentals today are
• 1:18:32
  stronger than what they were back then.
• 1:18:34
  From a hash rate perspective, from a regulatory perspective,
• 1:18:38
  from a Wall Street institutional perspective, everything is just
• 1:18:41
  stronger. So it doesn't make sense, right?
• 1:18:45
  It doesn't make sense for us to just quietly, you know, top out.
• 1:18:50
  And another thing that I'll say too, and I think it was British
• 1:18:52
  Huddle that I heard say this, right?
• 1:18:54
  We're not in a bull market. I don't think we have been in
• 1:18:57
  the bull market for the last seven months.
• 1:18:59
  How could you say we're in a bull market if we go from 109 to
• 1:19:03
  113, OK, to be fair, we went up to 120, two 123, but from 109 to
• 1:19:10
  122 in seven months, that's not bull market territory.
• 1:19:14
  So I don't think we've even started yet.
• 1:19:16
  I don't think the run up has started.
• 1:19:18
  I think we're, the more we go sideways and I think this is the
• 1:19:21
  good news, the stronger the base is when we eventually launch,
• 1:19:28
  when there's a blast off, the base is much stronger on these
• 1:19:35
  foundational levels, right. So, yeah, I mean, I think it's
• 1:19:38
  good news overall, I would say. And yeah, I agree with you 100%,
• 1:19:44
  Luke. I think we're just getting
• 1:19:45
  started. I don't think we've topped.
• 1:19:48
  It just doesn't make sense and I think the next six months are
• 1:19:52
  going to be life changing for a lot of people.
• 1:19:55
  And I would just say sit back, enjoy the ride and I think, I
• 1:19:59
  think Bitcoins going to do what it's always, always has done.
• 1:20:03
  I agree. I think for me, the the
• 1:20:06
  predictability of what Bitcoins going to do in the medium term,
• 1:20:10
  I'm getting more and more concerned and I'm getting
• 1:20:13
  personally more and more unable in my projections to have any
• 1:20:18
  idea of what's going to happen. To simplify that.
• 1:20:21
  I just don't know. Tomorrow if I wake up and
• 1:20:24
  Bitcoin's at $60,000 or $600,000, I have no idea.
• 1:20:28
  And I'm genuinely preparing myself for Eva's situation.
• 1:20:32
  And again, a lot of people will hear that and they'll think
• 1:20:34
  that's impossible. Bitcoin couldn't crash 50%
• 1:20:37
  overnight, but it's done already.
• 1:20:38
  We did that in 2020. That was just five years ago and
• 1:20:41
  Bitcoin was at the time 8 or $9000 a coin.
• 1:20:44
  And again, I just think people would say, oh, it's impossible
• 1:20:47
  that Bitcoin moons to $600,000 overnight.
• 1:20:50
  I would just challenge that idea.
• 1:20:52
  I don't think so. I think it's getting more and
• 1:20:53
  more likely by the day. And the fewer and the fewer
• 1:20:56
  Bitcoin that sits on the exchanges, I think that is only
• 1:21:00
  going to increase the probability that we see
• 1:21:03
  something like an Omega candle like I think Samsung Mao will
• 1:21:07
  eventually be correct on. I think it's a great concept.
• 1:21:10
  I think it's a great theory, and I think something like that is
• 1:21:13
  actually far more likely to happen before 20-30.
• 1:21:17
  Then the power law survives from today in 2025 to 2030.
• 1:21:22
  That's how I'm thinking about what's next.
• 1:21:24
  Amen to that Amen to that Well guys, appreciate you tuning in
• 1:21:29
  for August 5th, 2025. I'm your host Nico, my Co host
• 1:21:33
  today most bullish best Bitcoin content creator in the game Luke
• 1:21:38
  Mikich. Go give him a follow guys.
• 1:21:40
  If you guys enjoy the show, you know to do like subscribe all
• 1:21:43
  that good stuff, we're going to see you tomorrow for a brand new
• 1:21:45
  episode of Simply Bitcoin Live. Until then, peace out guys.
• 1:21:49
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• 1:21:56
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