Latest / Simply Bitcoin / Did The New Middle Eastern Bitcoin FOMO JUST SAVE The Bull Run? | EP 1209

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Did The New Middle Eastern Bitcoin FOMO JUST SAVE The Bull Run? | EP 1209 · Simply Bitcoin

0:00
Yo, did the UA's secret closed door meeting with President
0:04
Trump and crypto czar David Sachs save the Bitcoin bull run?
0:10
Well, the Internet broke when the UAE chic and brother of the
0:13
president publicly tweeted that he was in the US to discuss AI
0:18
and digital currencies. Following this meeting, the
0:21
White House confirmed that the UAE is going to invest $1.4
0:26
trillion into America. But the real question is, is
0:31
Bitcoin or Bitcoin mining going to be part of this $1.4 trillion
0:36
investment since since this is a closed door meeting.
0:39
Since this meeting took place, the price of Bitcoin has rallied
0:44
aggressively to 90K, which makes us wonder, is the Middle East
0:49
saving the Bitcoin bull run? Before we jump into it, I do
0:53
want to bring up my legendary Co host, always optimistic optimist
0:56
Fields in the Co host chair and of course, our special guest
0:59
today, Mighty CEO CIO of Leaden in the House and good friend as
1:04
well. All right, gentlemen, let's jump
1:06
straight into today's show. I mean, this is pretty crazy.
1:10
We're not click baiting you guys.
1:12
This actually happened. Let me show you guys proceeds.
1:16
So what am I talking about? What was I talking about in the
1:18
beginning? So check this out.
1:20
I'm sorry guys, I can't pronounce this Opti.
1:23
Do you want to give it a a shot? Tahoon tahoon bin Zayed.
1:31
So he is the Highness Sheikh Tahooni, deputy Ruler of Abu
1:36
Dhabi, and he met with crypto crypto czar and AI Czar of the
1:42
White House, David Sachs. And check out this post.
1:47
I explored with David Sachs, the Special Advisor on AI and
1:51
Crypto, the transformative effects of artificial
1:54
intelligence across various sectors, the expanding role of
1:59
digital currencies and in reshaping financial systems and
2:03
the investment opportunities emerging at their convergence.
2:07
As technological advancements accelerate fostering
2:10
collaboration and adoption, forward-looking strategies
2:14
remain essential pillars for driving sustainable growth and
2:18
achieving long term impact. Now, what's really interesting
2:22
as well is you guys have to remember to zoom in, zoom out
2:26
When in doubt, they the Bitcoin conference.
2:30
Our friends over at the Bitcoin conference, Bitcoin magazine
2:33
through an amazing conference over at Abu Dhabi, and here's
2:36
David Bailey with I believe the Sheik of Abu Dhabi and David
2:41
Bailey of course, is pitching them on the UA, the UAE becoming
2:47
a Bitcoin superpower. We know that Dubai is a huge hub
2:51
for the Bitcoin and crypto industry due to the the very,
2:56
very favorable tax regulations happening over there.
3:00
And here of course is the man, the myth, the legend, President
3:04
Trump and the UA chic and of course talking about the $1.4
3:10
trillion investment. Now, if it was just this picture
3:14
alone, I think it would be a nothing burger.
3:16
But the fact that, you know, the one of the chic met with the
3:21
crypto czar, the AI czar, I think speaks volumes.
3:26
And again, we know that there was just a massive Bitcoin
3:30
conference in the United Arab elements, the United Arab
3:34
Emirates. Anyways, let's check out this
3:36
article by Coin Telegraph. Trump's crypto czar meets UAE's
3:41
National security Advisor on crypto and AI White House crypto
3:45
and AI czar David Sachs was among a number of Trump
3:48
administration officials who recently met with UAE officials
3:52
to discuss emerging technologies and UAE's potential plans to
3:57
increase its investment in the United States.
4:01
The Sheik, the Gulf nation's national security advisor and
4:04
brother of the country's president, said in a March 20th
4:08
ex post that he had spoken with Sacks about a is impact and the
4:13
expanding role of digital currencies.
4:16
U.S. President Donald Trump hosted
4:18
the Sheik for dinner at the White House on March 18th and
4:21
posted this on his Truth Social platform a day later that he and
4:25
senior U.S. officials discussed with the Sheik.
4:28
But ways for our countries to increase our partnerships, for
4:32
the for the advancing of our economic and technological
4:36
futures. I mean, it just it doesn't take
4:40
a rocket scientist the United States just posted from their ex
4:44
account the why the current administration that they have
4:48
every intention of the United States becoming quote the
4:51
Bitcoin capital of the world. So I mean, you can make a pretty
4:55
good bet. I mean, he didn't mention in the
4:57
post, but you can make a pretty good bet that Bitcoin or crypto
5:01
was definitely part of those conversations.
5:04
The exact details of the Sheikh's multiple discussions
5:08
were not made public and it was a closed door meeting.
5:11
But Bloomberg reported on March 19th that people are familiar
5:15
with his meetings with Trump said he planned to talk about
5:18
technology, energy and increasing the UAE's investment
5:22
in the US. Anyways, it just keeps on going.
5:26
But you guys get the point. I'm going to, I'm just just
5:29
leave it right here. Look at that.
5:31
They definitely brought up Bitcoin once or twice.
5:33
Anyways, I do want to open it up to the panel.
5:36
I do want to give a shout out to our boy Mauricio for joining us
5:38
on the show today. Guys, this is pretty exciting.
5:43
What I posted the other day and Mauricio and I were talking
5:46
about this before we got on air, but what I posted the other day
5:50
was I think it was like two or three days ago is in terms of
5:54
news, this cycle has been the best cycle ever.
5:59
In terms of price action, this cycle has been pretty boring.
6:04
So I mean like it is, is it, you know, is it, are we heading into
6:10
the next, are the next four years going to be absolutely
6:13
bonkers? Because if you look at the
6:14
fundamentals of Bitcoin, the strategic Bitcoin reserve, all
6:18
these other countries looking at Bitcoin, the rubber stamp of
6:22
approval by the United States government, There's an official
6:27
the the IMF finally concedes that Bitcoin can be used as a
6:33
form of money. There's news coming out of
6:35
Russia that they're looking into following in the footsteps of
6:40
the United States. Obviously, from a strategic
6:42
perspective, they have to like, I think these next four years
6:47
are going to be absolutely explosive.
6:49
But I think a lot of people are let down that this amazing news
6:53
isn't being properly reflected in the price action as of yet.
6:57
I mean, things have changed. We definitely ran up from 5082
7:01
K, 83 K, we're at $88,000. I think we hit like 88,700 this
7:07
morning. So I think things are definitely
7:09
warming up. My opinion, I don't think we're
7:11
out of the woods yet till we cross 100K Monisi, I'm going to
7:14
pass it on to you, man. Welcome to the show.
7:17
Hey guys. Hey, Opdia, Nico, I, I think I
7:21
echo a lot of what you just said.
7:23
I think my my take or my interpretation of what's what
7:27
we're seeing in the market and why you're not seeing the Quinn
7:30
rally when you get news like these or headlines like the one
7:34
you just went over is I think we're at a point in time where
7:39
the market has gotten a lot of exciting announcements of things
7:43
that are going to happen. So the digital asset or the
7:47
Bitcoin strategic reserve, you know, it's announced, it's still
7:50
up in the air around how it's actually going to materialize.
7:53
What is actual mechanics? What are the actual amounts?
7:56
Same with these types of, you know, we are going to
7:59
potentially invest up to this amount in the United States.
8:02
Like these are promises and promises.
8:07
A plethora of promises has already been made by the Trump
8:10
administration. Some of them have already been
8:11
kept like releasing Ross and these others.
8:14
There was an executive order around the, the digital asset
8:17
stockpile or the Bitcoin strategic reserve, which I think
8:20
a lot of people, you know, the, the, the reaction there was that
8:25
it was an executive order. Executive orders are can be done
8:28
by the next administration too. This wasn't something that was
8:30
passed through Congress or the Senate through the look through
8:33
the actual ringer of the law making process and got stamped.
8:36
This was something that the 11 president wrote and the next guy
8:39
could potentially write the opposite.
8:41
And so I think the market is kind of expect announcement out
8:48
like there's been too many announcements into the market
8:51
about things that might be coming, might be coming, but
8:53
there's nothing that's actually coming into the market.
8:55
Like another example would be the repeal of SAP 121.
8:58
Yes, great that was repealed. There haven't been since any
9:02
banks necessarily announcing that they're going to be coming
9:05
and doing these investments and the amounts for these
9:07
investments and the specifics around these investments.
9:10
So in general terms, I think what the market is waiting for
9:14
is the translation of these announcements into practical
9:22
realities, right? Like will any of this $1.4
9:24
trillion be deployed into any type of Bitcoin infrastructure
9:28
in the US at TBD? There's no commitments there.
9:30
There's nothing signed or guaranteed.
9:33
Similarly with, you know, some of the SAB 121, it's right like
9:36
it's been repealed. OK, how many banks are going to
9:38
come in? How big are their operations
9:40
going to be? How heavy are they?
9:42
They're going to come into the space.
9:43
So the market's really saying, OK, the announcements have been
9:46
made. Some of these changes have been,
9:48
you know, enacted. Where's the action?
9:51
Where's the money actually going to come in?
9:53
And can we can we stop making announcements and of things that
9:56
are going to happen and start making announcements of things
9:59
that they've actually gone out and done?
10:01
And so I think that's the, the, the sort of frustrating, not
10:06
frustrating, but this sort of highly anticipation.
10:08
There's a lot of anticipation in the market and we're waiting to
10:11
see these announcements turn into actual investments.
10:15
I think that's where we're at right now.
10:18
Yeah, 100%. And I think everyone, I think
10:20
everyone feels that right. Like everyone's like, OK, you
10:24
know, show me the goods, right? Show me the goods, you know,
10:27
strategic Bitcoin reserve. You know, you, you're hearing
10:31
the talk from Bo Hines. We're going to play you guys a
10:33
clip during the numbers basically saying that look like
10:36
we're looking into potentially selling, you know, some of the
10:40
gold to buy Bitcoin. You know, the Bitcoin act was
10:43
reintroduced by Senator Lummus, but it's kind of like show me
10:46
the goods, show me the goods. And then also not to mention the
10:50
current monetary environment, right?
10:52
The rates, you know, they're still a little bit high, right?
10:56
People are anticipating that by the end of the year, you know,
10:59
they're going to be lowered. We're still in a QT environment.
11:02
I know it's slowed down. You know, that was that was
11:06
Powell mentioned that last week, but you know, that's the
11:09
reality, right? Are we ever going back into a QE
11:13
environment? Are they going to turn on the
11:14
money printers again? That'd be absolutely awesome.
11:17
But but that's the reality of the situation.
11:19
I think a lot of people are frustrated, especially because
11:22
of, you know, the the their previous experiences in the last
11:25
cycles. I mean, if if you you can't deny
11:28
this, right? If you compare this cycle to the
11:30
previous cycles, Bitcoin would be a lot higher right now.
11:33
Like if you put the 2021 cycle on top of the 2025 cycle, 2021
11:42
already made it all, it already peaked, the first peak already
11:45
happened, right? So that is, that's not.
11:50
Another consideration on that is that back in 2017 or 2021,
11:55
Bitcoin was half the price, right?
11:58
Like it today. It takes hundreds of billions of
12:02
dollars to move the price of Bitcoin.
12:05
And as in 10 more people coming in or you know, on the margin,
12:09
another, you know, another million people coming in, it
12:11
becomes harder and harder and harder to move the price of an
12:15
asset as the asset becomes bigger.
12:17
And so as these cycles grow and mature, everyone's expecting, I
12:21
think the sort of textbook view of this is that volatility
12:26
compresses over time and the and and sort of the peaks of the
12:29
trouts are less and less extreme until this thing starts trading
12:32
a lot more like gold. So it's just another thing to
12:34
consider is that I don't think that the in order for the
12:39
quantum rally size of each cycle to continue, there's got to be a
12:46
relative size of new money vis a vis the existing pie coming in.
12:51
So you know, if it's a trillion dollars, we're going to need a
12:54
half a trillion dollars to move it.
12:55
If it's 2 trillion, we're going to need one full trillion to
12:57
move it. So on, so forth.
12:58
And so that that's additional demand on the margin will not
13:04
necessarily maintain the pace that it takes for every cycle to
13:08
be exactly the same regardless of the base size of the pool of
13:12
the asset itself. So I think it's something to
13:14
consider, which is, you know, $100 million coming into the
13:18
market in 2017 had a very different impact that $100
13:22
million coming into the market today.
13:23
Like if Microstrategy's order of 584,000,000 market buy over the
13:27
weekend had come in, in 2017, this thing would have broken the
13:31
charts. So it's, it's today, it's just a
13:34
drop in the bucket. So I think it's just important
13:36
to consider how big this thing continues to get as we look look
13:41
at potential further more aggressive price appreciation.
13:45
Absolutely. I think that's a really, really
13:47
good perspective, right? The market cap is absolutely
13:49
massive. It's what 1.811 point seven,
13:52
$1.8 trillion, it's absolutely enormous.
13:56
It was a lot easier when it was, you know at $100 billion, two
13:59
$100 billion market cap, you're 100% correct on that.
14:03
Now my question to you before I pass it on to Opti, my legendary
14:06
Co host Maunicio, is is is you know, is Bitcoin becoming
14:10
boring? Is the opportunity gone?
14:12
Like, you know, like are, are we just looking at, are we just
14:15
looking at the SNP? You know, like, Oh my God, 3%
14:19
movement today. OK, You know, Maunicio, what's
14:21
your take? So So what what I, I think it's
14:24
funny because sometimes people tell me that the Bitcoin
14:29
mimicking the S&P 500 is is boring.
14:34
Do you I, I don't think people fully appreciate that 90% of the
14:38
free world doesn't have access to US equities.
14:41
And the best thing they can do with their money often times is
14:45
turn it into cash and put it under their mattress because
14:48
even keeping gold safe is very difficult in most of these
14:51
markets. So if I told a person that is
14:54
keeping dollars under their mattress that they can go out
14:57
and buy an unseasonable, unsensible, unstoppable asset
15:00
that mimics the returns of the greatest equity market in the
15:03
world, that would be the most exciting proposition you've made
15:08
this person probably since they found their first job where they
15:11
understood what money was. So for me, the S&P, Bitcoin,
15:15
mimicking the S&P or just mimicking the world's money
15:18
supply, A is not boring. It's an incredibly effective
15:22
shield for someone's wealth no matter where they are.
15:25
And for someone who thinks that having access to the S&P 500 is
15:29
boring, I can I can understand that coming from a North
15:32
American sort of OECD point of view.
15:34
But for most of the world, having access to the S&P 500 or
15:37
quasi S&P 500 ish instrument is one of the most liberating
15:43
things that you can propose to them.
15:47
Yeah, 100% no. And again, they they have
15:49
access. It's part of what you guys do as
15:51
well. Like what?
15:52
What I love what you guys do is that you guys offer loans to
15:57
anyone worldwide because of the with the power of Bitcoin, that
16:00
was not possible before. You'd have to, you know, run a
16:03
credit check or it'd be too high risk.
16:06
But you know, it doesn't matter where you are.
16:08
You offer Bitcoin as collateral. You guys don't put yourself at
16:12
risk and they have access to capital, which is insane.
16:16
That's absolutely revolutionary. So I'm really, really glad that
16:19
you brought that up. Now I, I do want to pass it on
16:22
top to you, But one more question Mauricio, is it, is the
16:25
opportunity in Bitcoin gone? No, no, absolutely not.
16:30
The the opportunity of of of Bitcoin is going to go away when
16:34
Fiat starts acting that would should act and government stop
16:37
being irresponsible. I think this is not at all, you
16:42
know, a a question mark around bitcoins value prop.
16:47
I think just like everything else, it'll go in cycles, right?
16:50
There will be times where Fiat currencies are managed more
16:54
responsibly than others, right? Like in the twenty 20s, we we
16:57
printed what, 20-30 to 40% of the money supply globally.
17:00
So yes, Bitcoin ripped over the next four years.
17:03
Like can we is there a case for the money supply supply to be
17:06
managed slightly more responsibly over the next four
17:09
years after a drunken episode of 40% of the money supply
17:12
printing? Yes, I think that's what we're
17:15
going through right now. I think everybody's hungover
17:17
from all the printing. Everybody's saying, OK, was that
17:19
really necessary? What can we do to not make the
17:22
pain be so dramatic? And that gets reflected and and
17:26
you know, it's funny safer. Dean says this like the what is
17:29
the biggest risk to Bitcoin? Well, the biggest risk for
17:31
Bitcoin is that central bank stop running deficit.
17:34
And, and it's funny because right now we're going into an
17:38
era where deficits are being questioned.
17:40
They are being called out. Governments are being put, you
17:43
know, in the hot seat for overspending.
17:46
And you're going to have a little bit of reversion of the
17:48
mean. And and that may mean that some
17:50
of the risk assets have, you know, are there's not enough,
17:53
there's not as much fuel getting thrown into the fire.
17:55
Therefore, risk assets aren't going to be going at the sort of
17:57
supersonic speed that they had gone.
17:59
But what what life has showed me is that these are cycles and
18:03
that eventually they will find the next excuse to print 30% of
18:07
the money supply and the next excuse to print X percent of the
18:10
money because it's the easy way out.
18:11
And so for us, we just need to, you know, keep our heads down,
18:15
continue to build the assets, going to do what the asset does.
18:19
And when, when they're when they're when the drunken sailors
18:22
come out again, Bitcoin will do its thing again, as it always
18:25
does. Amen beautiful beautiful put
18:29
Opti in the house before I put before I pass it on to opti, I
18:32
do want to give a shout out to the live stream absolutely
18:34
kicking ass this Monday. This Monday 1611 of you guys
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watching live between YouTube and X and about 100 of you guys
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watching live on rumble. If you guys are enjoying this
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show so far, make sure to smash that like button.
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Help us break 150 likes within the 1st, let's say 30 minutes of
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the show. So smash that like button if you
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guys are enjoying the content so far anyways, Opti 20 minutes
19:02
before you've had your chance to speak.
19:04
I was just so, so interested I. Was saying first thing first W
19:08
drunken sailors. We want them drunken sailors
19:11
back in the market. Please pump the bags.
19:14
Obviously, you know, we are kind of trolling.
19:15
But one thing you did say, Nico, is like, is Bitcoin boring?
19:18
Is Bitcoin basically the S&P 500?
19:20
If I remember correctly, the S&P 500's like roughly $50 trillion.
19:24
So I don't know, it sounds like we still have a lot of room to
19:27
run considering Bitcoin's less than two trillion right now.
19:29
So if that's boring to get to that number, like, I don't know,
19:33
I think we're super jaded here in, in terms of Bitcoin price
19:36
appreciation. But it is very interesting.
19:38
I think Mauricio makes a really good point because if you would
19:41
have told us years ago, like when I got in Bitcoin 20, 17,
19:44
all the news we're hearing, would the Bitcoin price pop?
19:47
You'd be like, yes, of course, like this is outside of probably
19:50
the realm of what a lot of us thought would happen this
19:53
quickly, But we haven't factored in that the market is a lot
19:56
bigger now. And yes, there is a lot of
19:58
players that are talking about getting into Bitcoin.
20:00
Like the rhetoric around Bitcoin has fundamentally changed, but
20:04
we haven't seen that much actual capital flow into Bitcoin.
20:08
Yes, we got the best ETF launch ever.
20:11
Yes, we're seeing talks of nation, state, FOMO.
20:14
And that's all very exciting, but the actual, you know, the,
20:17
the real, real movements in action hasn't actually happened
20:21
right now. But we are starting to see that,
20:23
hey, no matter what's going on, Bitcoin is still holding pretty
20:26
solid around 8090K right now. And now we're looking like we're
20:30
going to start making that move towards 90K.
20:32
So I would say everything is super bullish around Bitcoin.
20:36
I think it's going to pop at a certain time, but we do have to
20:39
factor in that there is a lot of economic certainty going on in
20:42
the world right now, especially with all the things Trump doing.
20:45
I mean uncertainty. What I say, yeah, economic
20:47
uncertainty, especially with all the stuff that Trump's doing so
20:50
like people aren't sure what to do with their money.
20:53
And for the vast majority of people, they still look at
20:55
Bitcoin as a risk off assets. So they're obviously are a risk
20:58
on assets. Sorry, we're the ones that think
21:00
it's a risk off asset. They think it's a risk on asset.
21:03
So they're not going to dump a lot of money into Bitcoin right
21:06
now when they're just like not sure what is going on in the
21:08
markets. So there's a lot of things
21:10
playing out, but I think as Bitcoin does start to make its
21:13
move and I, you know, obviously it's a good speculation whether
21:17
it's coming from the UAE or the Middle East is is saving this
21:20
bull market. We did hear for a while the
21:22
rumors about them waiting till Trump denounces SPR strategic
21:26
Bitcoin reserve to start to announce their move.
21:29
So this could be part of that kind of slow rollout.
21:32
Maybe they don't want to really expose their hand so much yet,
21:35
but part of this economic framework and this is coming out
21:38
of the hill is essentially saying that the UAE will
21:41
increase its existing investment and U.S. economy and AI
21:44
infrastructure, semiconductors, energy and American
21:48
manufacturing. So it doesn't necessarily say
21:49
Bitcoin, but there is a lot of stuff that does kind of announce
21:53
Bitcoin. But once the framework like kind
21:58
of came out afterwards, you know, that discussion was like
22:00
we're discussing digital currencies and then the 1.4
22:04
trillion investments didn't actually say Bitcoin or digital
22:07
currencies yet. But I think it's loosely
22:09
essentially saying like, hey, we're going to invest in energy
22:12
and everyone knows that Bitcoin coin is backed by energy.
22:15
And it's like if they're going to do smart stuff with AE or AI
22:19
infrastructure, we know that Bitcoin mining and AI
22:23
infrastructure is basically one in the same thing at this point.
22:26
So I think there is a lot of bullish information kind of
22:29
building up and we're not going to see anything kind of probably
22:33
until like, you know, next month, I think once Q1 ends,
22:37
we'll start to hear some of these big announcements of
22:39
people buying Bitcoin. But it's all leaning towards
22:41
bullish. And I mean, I, I think we're, I
22:44
think we're all a little jaded right now.
22:45
It's like, why isn't the price pumping?
22:48
You know, I, I was promised 150 K first 100 days and we're what,
22:52
like 90 days in and we haven't got it yet, but maybe the next
22:55
20 days is going to be super lit.
22:58
Yeah, absolutely. I do want to give a shout out to
23:00
the live stream 1800 of you guys watching live between YouTube
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and X and almost 100 of you guys watching live on Rumble 500 live
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viewers on YouTube alone. Anyways, smash that like button
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if you guys are enjoying the content.
23:15
You guys are listening to Simply Bitcoin Live.
23:17
We have a loaded show for you guys.
23:19
We're going to be talking about Trump's advisor.
23:22
According to this article, US may sell gold to buy Bitcoin.
23:28
I just want to echo what Mauricio is saying, right?
23:30
We have all this news, but I, we want to see action.
23:34
We want to see action right Where that's where we are in the
23:37
movie anyways. Also, Mauricio is an absolute
23:40
legend and he wrote an article for Forbes and the article is
23:45
called Breaking Down Strategies, recent preferred stock offering.
23:50
So we're going to be talking about that and we're going to be
23:52
talking about the highlights of the week and the highlights of
23:55
the previous week. So it's going to be interesting
23:57
during the news segment and of course during the culture
24:00
segment we're going to be talking about all things LED in.
24:03
So guys, it's going to be a jam packed show.
24:05
Like I said, if you guys are enjoying it, smash that like
24:08
button help us break. I'm going to raise the target
24:11
200 likes by the end of the show. 200 likes 250 likes smash
24:17
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24:19
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We have tons to talk about. We will be right back.
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1136 market cap 1.75 trillion Bitcoin versus gold market cap
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28:03
-19.4% Realized monetary inflation .91%.
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Continuing to take Fiat currencies to absolute school.
28:15
Anyways, this is what I wanted to talk about.
28:17
This is crazy. So according to this article
28:21
from Forex live.com, this is the headline for the audio
28:25
listeners. Trump advisor said US may sell
28:29
gold to buy Bitcoin Robert Bo Hines, executive director of the
28:34
President's Council of Advisors on Digital Assets, spoke with
28:39
media on Friday. If the move to sell some of the
28:43
gold and Fort Knox to buy Bitcoin remain budget neutral,
28:47
it could be considered. This is of interest because in
28:50
Trump's announcement of a Bitcoin reserve earlier this
28:53
month, he said that the government will acquire Bitcoin
28:56
in the future through budget neutral ways.
28:59
The reason that they keep having to say budget neutral ways, by
29:03
the way, is there's only so much Trump could do via executive
29:08
order. What really needs to happen?
29:11
And for this, for this strategic Bitcoin reserve to have
29:13
longevity, right, it needs to be, it needs to go through the
29:17
legislative process. The Bitcoin Act needs to be
29:20
passed in the Senate. Do they have the votes?
29:23
I asked Senator Lummis this question in DC Actually,
29:27
Mauricio was there. He came on the show that day
29:30
that I had the interview and I was in a full suit and I asked
29:33
Senator Lummis this. I said, do you have the votes?
29:36
She felt really good about it. But I think that, you know,
29:38
that's the question, do they have the votes to pass this?
29:41
But anyways, more details here. Later in Heinz interview, he
29:45
referred to Senator Lummus's Bitcoin bill as an example of a
29:49
budget neutral way to buy Bitcoin.
29:51
The Lummus legislation and brief to create a Bitcoin strategic
29:54
reserve would direct the government to purchase 1,000,000
29:57
bitcoins over five years. Funds for the Bitcoin purchases
30:01
would come from diversifying existing funds in the Federal
30:04
Reserve System. That mean, does that mean
30:06
selling gold? Who knows, Is the gold even at
30:08
Fort Knox Anyways? I have I have a clip of Bo Hines
30:14
on a recent interview. Let's check it out and then
30:16
we'll all talk about it. The US has already acquired
30:22
about 200,000 BTC. That's worth about $17 billion.
30:27
Strategy CEO Michael Saylor is suggesting that the US acquire
30:30
up to 25% of the Bitcoin supply by 2035.
30:36
What would be the target amount for the United States in your
30:40
view? Well, you know, I, I get asked
30:42
this question a lot and I, I think the answer to that, like I
30:45
said at the summit yesterday is as much as we can possibly get
30:48
so long as it's in budget neutral ways that don't cost the
30:51
taxpayer a dime. I think we have a lot of high IQ
30:53
people in the building. They're working on this and
30:55
folks over at the Treasury office and folks over at
30:58
Commerce working with the internal working group that was
31:01
set up in the first digital asset CEO.
31:03
We'll be able to come up with with ways to accumulate more
31:06
really over the course of the next few years.
31:07
And beyond that, I mean, look, we view Bitcoin as being digital
31:10
gold. That's why we set up the
31:12
strategic Bitcoin reserve in the way that we did, right?
31:14
Bitcoin is a commodity. It's not a security as our AI
31:17
and crypto, as our David Sacks like this likes to say, it has
31:20
the Immaculate Conception, meaning that there's no issuer
31:22
that has intrinsic stored value that's traditionally accepted.
31:26
And we feel like it's in the best interest of Americans to
31:28
hold on to this asset long term and accumulate as much as we can
31:31
get. You know, that's why we have a
31:33
canvas to digital gold and talked about building the
31:35
digital Fort Knox for the United States.
31:37
And you know, you mentioned the Bitcoin that we have possession
31:40
of. We've actually been in
31:40
possession of nearly 400, 100,000 Bitcoin and we sold
31:44
roughly half of that prematurely at about, I think it was close
31:47
to, you know, $370 million is what we sold it for.
31:49
If we would have held on to that, it would have been worth
31:51
$17 billion today. I mean, it just goes to show you
31:55
how important this asset is and, and what we can do with it to
31:57
benefit the American people. You know, one thing that I've
32:00
said repeatedly throughout the media circuit is that I think
32:03
it's really nice that we have a president that's actually
32:05
looking to accumulate assets for Americans rather than take it
32:07
away, unlike the last regime that we had here at the White
32:10
House. But we feel very confident about
32:13
our plan. We feel confident about the
32:14
internal working group that was set up in that first EO and and.
32:22
All right, everybody. So I mean, I'm going to, I'm
32:24
going to pass it on to Marisa. Marisa, what's your analysis
32:27
here? I mean, this is crazy.
32:30
You know, if we were talking about this, you know, back in
32:33
the day, man, the 2017 era, one of the copes that we had in
32:38
20/17/2018, when the bear market hit in 2018, we all kept saying
32:43
the institutions are coming. The institutions are coming.
32:46
They were never coming. They weren't even close to
32:48
coming. The institutions are here
32:50
without a shadow of a doubt, not only the institutions, the most
32:53
powerful and influential government on the face of the
32:55
planet, you know, the US. But again, proof is in the
33:00
pudding, man. It's what you said like in the
33:01
beginning. I think what you the point that
33:03
you made was excellent, right? Like, you know, a lot of talk.
33:07
We we got to see action here. So what's your take, Mauricio,
33:11
on this recent clip from Bo Hines?
33:14
I think, I mean, I mean, first, when I, when I look at a clip, I
33:19
like to sort of dissect who's, who's speaking, what's their
33:22
audience, what's their agenda? What are the, you know, what,
33:24
what is their mandate to try to get out of the interview?
33:26
And obviously as as an advisor for the economic, as an economic
33:31
advisor for digital assets, obviously you're you're, you're
33:36
what you want to convey is that there is this plan to go and
33:40
acquire Bitcoin. Now.
33:42
I think why this is, you know, meeting some resistance as far
33:47
as public opinion and and markets really translating this
33:51
from an announcement into an actual price change is because I
33:56
think what people are rightfully recognizing is that the United
34:02
States is a government, right? Like they have a mandate to the
34:06
entire country. They don't just have a mandate
34:09
to Bitcoiners, right? And so, although we would love
34:12
for people to sell gold out of the reserves and buy Bitcoin
34:15
with it, you have to you, you have to understand that that is
34:19
going to be a big political debate.
34:21
Like there, there's going to be groups and constituents
34:23
everywhere that are going to be vouching or, or basically
34:27
putting their hand up to get some of that money.
34:28
Like I'll give you an example. What if you sold part of gold
34:32
and reinvested that into the equity of other US businesses
34:35
that could grow faster and then employ more people, build more
34:38
things in the United States? I think that's going to be a a
34:41
big tension, right? Like it's one thing to say the
34:44
US won't sell the Bitcoin it seizes that I don't think anyone
34:48
has an issue with because they're not necessarily going
34:50
out and spending money that could be spent elsewhere to get
34:53
it. They're just taking something
34:54
that they seized. They're not selling it.
34:56
They'll put it into the reserves and then they'll you know, it'll
34:58
do its thing. But when you're actually getting
35:01
rid of something else, IE your gold, and you're going to use
35:04
that money to replace it with something else, how you do that
35:08
is going to be subject of political debate and
35:11
conversation. And it's not going to be a fast
35:14
process. It's not going to be quick.
35:16
I think, you know, again, I'm, I wouldn't call myself a, a, a
35:22
political expert per SE, but just from my experience, I can
35:27
tell you that any process to get rid of any part of any, you
35:31
know, country's reserves and to turn them into something else is
35:35
going to be subject to very heated political debate, not
35:38
something you can get done through an executive order.
35:41
And so this is where I think you're, you're seeing some
35:45
resistance. It's like a lot of promises,
35:46
yes, but where's the bipartisan commitment to turn those
35:49
promises into a reality? Until we have bipartisan
35:52
commitment to make this a long term thing, it's going to be
35:55
perceived by markets and investors as a one party issue,
35:58
IE if they don't win the next election, this goes away.
36:02
So I'm investing on a four year horizon, right?
36:05
When I get bipartisan support, the horizon goes away.
36:08
This thing is, it has longevity. I can go in and I don't have to
36:11
worry about what the next administration is going to do.
36:13
So I think until we start seeing some bipartisan actions that
36:18
help Bitcoin go forward and that can be perceived as sustainable
36:22
beyond this administration, that's when you're going to
36:24
start seeing it translate into price.
36:26
Until then, it's just going to be the ideas of one party that
36:31
may or may not get to support it needs to become, you know, a
36:33
sustainable alternative. I think that's an excellent
36:36
point. And that's actually a question
36:39
that I asked Senator Lummus as well, because there was a, there
36:43
was a bill that was introduced into the House last year.
36:48
And essentially the bill would forbade the US government from
36:53
launching a central bank digital currency.
36:56
And it was literally along party lines.
37:00
It was all the Republicans voted for the bill that would
37:04
essentially forbade the US government for launching ACBDC.
37:08
And I would say 90% of Democrats voted against the bill.
37:15
And if you take a look at the previous administration and how
37:18
they treated the industry, it wasn't that great.
37:22
Now, to be fair there, it's not monolithic, right?
37:27
There's ROH Khanna, a congressman from congressman
37:31
from California, and he's very pro industry.
37:35
But the Elizabeth Warren camp, I mean, Elizabeth Warren is the
37:39
head head of she's the head of the head of the Senate Banking
37:45
Committee for the Democratic Party.
37:48
And we all know how Elizabeth Warren feels about the industry,
37:51
right? So I completely agree with with
37:55
Mauricio. And also another thing too,
37:57
guys, for you guys to understand about American politics in the
38:00
House, you just need a simple majority.
38:03
In the Senate, if you want something to be filibuster
38:06
proof, you need 60 votes. Republicans have 53 votes right
38:10
now and not all of them vote, you know, with their party,
38:16
right? So really it's like 51 votes.
38:18
You're still missing 9 votes, meaning you need 9 votes from
38:21
the other side of the aisle to support that bill, right?
38:24
And that's the reality now to be totally transparent and clear
38:29
with you guys, Bitcoin is a non, it's a nonpartisan technology
38:33
and neutral technology. It's for everyone.
38:35
It empowers everyone. But as, as long as it's still
38:39
not seen that way, you know, I, I agree with Modista, right?
38:43
It's, it's just, you know, that there's a lot of elements from
38:46
certain parties that would want to get rid of the income tax.
38:50
But of course, there's just not enough political support for it.
38:53
This is what I've been saying this for, for many months now.
38:55
And I'm really glad that you, you, you, you know, you, you
38:58
broke it down the way that you did Juanitio.
39:00
Anyways, I'm going to pass it on to Opti.
39:02
Opti does have to catch a flight in about 20 minutes or so.
39:06
I think after this segment I'm popping off Nika just to be
39:08
safe. He's going to be joining me down
39:11
here in Fort Lauderdale. We're going to be live streaming
39:15
the Mining Disrupt conference, the largest Bitcoin mining
39:20
conference in the world. Simply Bitcoin will be live
39:23
streaming the entire conference. That's going to be happening on
39:25
Wednesday and Thursday, so of course, the whole Simply Bitcoin
39:29
crew is coming down for it. But we'll have a show for you
39:32
guys today, tomorrow, and of course, for the rest of the week
39:36
as well. Anyways, Opti, what's your take
39:38
on this my friend? Before you got to catch a
39:40
flight? Yeah, I mean, look, I am as
39:42
bullish as anyone on Bitcoin, but I think Mauricio is right.
39:46
Like, I don't think it's politically viable for them to
39:48
sell their Bitcoin or sorry, sell their gold to stack
39:50
Bitcoin. Like not only is that not
39:53
politically viable in just America in the terms of left and
39:57
right paradigm, but I think globally we are just not there
40:00
yet. Though I do like this idea that
40:02
they are just, you know, spitballing ideas publicly.
40:05
Maybe this is some, you know, misdirection stuff or as Nika
40:09
likes to say, moving the Overton window.
40:11
So the fact they are even talking about like, hey, you
40:13
know, potentially maybe we'll sell the golden buy Bitcoin.
40:16
Us bitcoiners are like, yo, like as bullish as I am on Bitcoin, I
40:20
don't think that's going to happen.
40:21
But the fact they're just like. Kind of throwing it out there
40:23
like, yeah, that might be a budget neutral way to make this
40:25
happen. We're just like, what world are
40:26
we living in right now where we are just completely going away
40:30
from this idea that will ever go back to a gold standard?
40:33
We're like, Yep, you know, that's the past.
40:34
We're just going to sell it all and buy Bitcoin.
40:37
Obviously, I don't think we're there.
40:38
And like Mauricio was saying, you know, in America itself,
40:41
there is pushback from the other side.
40:43
It does seem like this is just a conservative Republican idea to
40:46
go. Oh, I think we got we dropped
40:52
Opti. Now and so we don't even have
40:54
Opti. You're in the matrix.
40:56
You're in the. Matrix Alright, well anyways
40:58
I'll pop off. Love you guys, I'll see you.
40:59
Tomorrow. Thanks, Optic.
41:03
I'll see you soon, brother. But yeah, no, I agree.
41:06
I think right now it's, it's, it's, it's definitely more in
41:09
the Republican camp and it's not monolithic, but I would love to
41:14
see more Democrats join. And that's really how bills get
41:18
passed. And, and, and not only is that
41:21
bills, is that how bills get passed, but in terms of policy
41:26
longevity, it, it needs to be bipartisan.
41:29
I, I completely agree. Anyways, guys, we still have a
41:31
loaded show for you guys. We have 2160 live viewers
41:36
between YouTube and X500 of you guys watching on, on YouTube
41:41
alone. And of course, shout out to the
41:43
rumble audience. The Rumble audience is the most
41:45
hardcore in the chat. They're absolutely savage and
41:49
we're on the verge of breaking 200 likes on the live stream on
41:52
YouTube. Guys, help us break 250 likes.
41:56
By the time the show ends, we'll be right back.
41:58
We're going to hit the news segment and we're going to be
42:00
talking about Mauricio's latest article on Forbes.
42:04
The name of the article is breaking down strategies, recent
42:08
preferred stock offerings and we're going to be doing a quick
42:11
recap on what is ahead this week for Bitcoin and what happened
42:16
last week for Bitcoin. Anyways, ladies and gentlemen,
42:19
we will be right back. I want to give.
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44:53
Right, everybody, we are back. Felicia is famous.
44:56
He is a published author on Forbes, and this is one of his.
45:02
I think he was famous before that before that, but now he's
45:04
extra famous. Let's check out this recent
45:08
article. I mean, first of all, before we
45:09
jump into it, because I think a lot of people and Mauricio, one
45:12
of the times that you came on simply Bitcoin, I actually even
45:15
asked you, I said, dude, like, how does this infinite money
45:18
glitch happened? And you did such a great job.
45:20
Like how does it work? It like it feels fake.
45:24
And you did such a great job, like breaking it down, you know,
45:27
and kind of explaining the, the like the nuances of it based on
45:31
your experience, right? So you you wrote this article
45:35
called Bitcoin Breaking Down Strategy's Recent Preferred
45:38
Stock Offering. So I have a question for you.
45:41
What inspired you to do and what inspired you to write this
45:44
article in the first place? Yeah, thanks, Nicole.
45:48
So typically when I write, when I write an article is is I'm I'm
45:53
often times seeking to understand the subject better
45:56
myself. And as you know, I've been
45:58
pretty interested in the, you know, instruments that micro
46:03
strategy has been putting out the way they're using their cap
46:06
table or their equity stack effectively to raise more
46:10
equity, purchase Bitcoin, make Bitcoin part of the reserves.
46:12
So I've been following their actions or their offerings
46:16
relatively closely so that I can stay attuned to what is getting
46:20
picked up by the market. And, and every time an offering
46:22
is put out, you can tell a lot about the the appetite for that
46:26
offering based on the reaction to the offering, whether it was
46:30
oversubscribed, whether it's sold at the rate that it was
46:32
planning to sell. So when I saw the the, so about
46:36
a month ago, they issued their first preferred stock which was
46:41
their STRK offering and then last month they issued that SDRF
46:47
offering. Why I became interested in these
46:50
instruments and and I wanted to write about them is because up
46:54
until up until this year, MicroStrategy had been issuing
46:58
debt at 0% coupon. So these are bonds where micro
47:03
strategy didn't have to pay interest on these bonds.
47:06
They were zero percent bonds, they just had a convertibility
47:09
factor, but that's not a net cash outlay for Micro Strategy.
47:12
So they were basically getting 0% money and no interest payment
47:17
obligations to acquire the Bitcoin V via the bond
47:20
issuances. Similarly, when they were
47:23
offering at the money equities, they were selling shares from
47:26
the treasury into the market at the price of what people are
47:29
willing to pay and then taking that money to buy Bitcoin.
47:32
Again, no requirement to pay anybody any monthly anything.
47:37
It's just a, a straight sale of equity to buy Bitcoin.
47:40
And then the and the bond, in the case of the bond, it was
47:43
just a 0% bond with no interest payments to buy Bitcoin.
47:47
So in neither of these cases, there's a cash flow strain on
47:51
the business because there's no ongoing cash flow requirements
47:55
for these ways of raising interest enter the preferred
47:59
shares. And so when SDRK was announced
48:03
earlier this month or sorry, earlier this year, I believe it
48:05
was end of January, he announced the first preferred offering
48:09
that had a dividend. So this is a 10% a year dividend
48:15
that has the options and you can read the article for the
48:17
nuances, but it starts at 10% and if it doesn't get paid, it
48:21
can basically it starts growing and it can go up to 18%.
48:26
And this was true for SDRK and I believe this is the same thing
48:29
for SDRF. What's very interesting about
48:33
these instruments is that they are the first time MicroStrategy
48:37
is putting out an offering that has a monthly cash flow
48:42
obligation. So in the case of this of these
48:45
STRF and FCRKSTRK, the two offerings actually have the same
48:49
yield. So what does this mean?
48:52
If you read through the article, you will realize that, you know,
48:56
they offered the first issuance. The the, the key thing to focus
48:59
on this conversation is this idea that these preferred shares
49:04
carry a yield or a dividend. OK.
49:06
And this is important for a few reasons.
49:08
One, it means that MicroStrategy has to in theory pay out 10% of
49:15
the money that it raised through these sales.
49:16
So to put these to put some numbers around these things, I
49:19
believe the first offering was 584.
49:22
The second offering was another, call it 584.
49:25
So let's call it, I think if they both go to to according to
49:31
plan, it'll be about $150 million worth of debt that
49:35
MicroStrategy is taking on every year.
49:39
Now, these are dividends that the board has to call.
49:42
So it micro strategy is not obligated to pay if the board
49:47
believes that it cannot pay it if they're not in the financial
49:50
shape they need to be to pay it. But there's already a commitment
49:54
out to the market that these will get paid.
49:56
So even though they have the option not to pay them, if they
49:59
don't pay them, they could greatly hurt their stock price.
50:02
So what I did is really just say, OK, how much is
50:06
MicroStrategy committing to paying in terms of these
50:10
dividends, which are, by the way, not legally binding?
50:12
They can be called off, but let's just say everything played
50:15
out the way it's supposed to play out.
50:17
MicroStrategy is then having to pay $150 million a year worth of
50:21
interest for these preferred shares.
50:24
And that number could be higher if they if they go unpaid.
50:28
Then you turn around and you say, OK, well, what is
50:30
Microstrategy's operating cash flow from its software business?
50:34
Because we know Bitcoin doesn't give him operating cash flows.
50:37
So if you look at the software business and you look at the
50:39
operating cash flows of that business based on their earnings
50:43
reports, you can basically you can get into a pretty good
50:46
estimate that the company has around 150 to $180 million worth
50:50
of free cash flows every year. What that translates to is that
50:56
if these offerings play out the way they would, they know the
50:58
way they're designed. And if there are no material
51:01
changes to the operating business of MicroStrategy, Micro
51:05
or Strategy has now committed to effectively paying almost all of
51:09
it it potentially more than the operating cash flows of its
51:12
business. Which then begs the question,
51:16
what happens if these dividends have to get paid and there's not
51:20
enough operating cash flows in the business?
51:22
What are the options? And at the end of the article,
51:25
just to summarize it, the options are either a
51:28
MicroStrategy doesn't pay it because they don't have to
51:30
legally pay it. They could just say, I'm sorry,
51:31
we, we believe the, the board believes we're not in the
51:34
financial fitness shape. We need to pay this out.
51:36
That would hurt the stock price. And then if they do then decide
51:40
to pay it out, then you have to see, are they making enough
51:43
money from their software business?
51:44
So it's a long way of saying, you know, as Microstrategy's
51:48
offerings become more and more sophisticated and they start
51:51
tacking on things like dividends and others, you really have to
51:55
dig deep to understand what are the potential outcomes from
52:00
these offerings and what are the potential risks?
52:02
Because I don't believe in infinite money machines and
52:07
I'll, I don't believe in, in 0 risk anything.
52:10
So I, I always like to try to understand what are the risks,
52:14
what could go wrong? And that was basically my my
52:17
summary of the analysis I did for strategies offering.
52:20
And that money, so that was first of all, a excellent
52:23
breakdown. And clearly you did a ton of
52:25
research and just kind of exploring into because again,
52:29
it's, it's insane financial engineering, right?
52:33
Like what? What is happening in a way like
52:37
the the he's not paying very much to borrow this money at
52:41
all, you know? What?
52:43
Well, if you look at it, that's actually because if you, if you
52:47
start reading into it, he's, he's paying more for this than
52:52
he paid for the bond because the bond he got a 0% with
52:57
convertibility. And in these, in these ones,
53:02
he's, and this is another part of the nuance of this offering,
53:06
which is important to know. These offerings are getting sold
53:08
into the market at $80.00 and then $85.
53:12
STRK was 80, STRF was 85. They have a liquidation
53:16
preference of $100 each one of them.
53:20
So he's already having to offer a higher liquidation preference
53:24
in the market he's selling it for than the market price he's
53:26
selling it for. On top of that, you're tacking
53:29
on the 10% dividend. So let in loans come out at
53:34
12.4%. Michael is not that far off now
53:38
at 10%, the borrowing to buy Bitcoin.
53:41
So what I'm trying to say is that the the cost of capital of
53:46
Bitcoin back financing if if you're looking at us in the free
53:50
market because right now, because SAB 121 and and the sort
53:53
of restraints that have been placed on the banks, the cost of
53:57
capital for this business is basically 10%, around 10%.
54:01
And Michael was getting away with just offering a convertible
54:04
option on the bonds because that would make up the 10% back then.
54:07
Today that option, you know, he has to give the preference plus
54:10
the option or plus the yield. And so it is still working, but
54:15
it's becoming more and more expensive is what I would say.
54:18
Yeah, absolutely. Let me ask you something to
54:21
Mauricio like what is the risk? Like what, where can he you
54:26
know, because of course like it and I'm comparing it right with
54:30
with let in its loan to value right.
54:32
Like, you know, you obviously you want to have enough
54:36
collateral or else, you know, you, you risk essentially
54:40
getting margin called. Is it a very, and the reason I'm
54:44
bringing that up is like, just try to make an analogy.
54:47
Does he find himself in a very similar situation?
54:50
Like is he over leveraging micro strategy?
54:55
I don't think he's over leveraging today.
54:57
I think if you look at the stack or or the of the position they
55:01
the Bitcoin positions they hold and you look at the debt plus
55:05
the press. So he, he put out about a
55:06
billion five of these press. He's he's got about 5 or 6
55:11
billion out in bonds. His Bitcoin position is
55:14
somewhere in the 40 billions. So right now he's call it 25%
55:18
loan to value is, is what I would say, but that's creeping
55:22
higher, right. And the interesting thing with
55:25
that is I, I, I, I think he still has, I think he's still
55:33
managing this responsibly, but I think you're starting to bump up
55:37
into that edge because right now the cash flows of the business
55:41
are basically matched to the servicing cost of your press.
55:44
And so anything from now onwards is going to start getting very
55:49
scrutinized by the market. And, and I don't think the
55:53
market feels too concerned because if you look at the price
55:55
action, the, the press are actually outperforming the
55:59
Commons and both the press and the Commons are outperforming
56:02
the ETF. So the market still likes this
56:07
combo, but it's getting more and more hard.
56:11
It's getting harder and harder to understand.
56:13
And as things get harder and harder to understand, you, you,
56:16
you start, you know, people start buying it without fully
56:20
grasping the whole thing. And that's where you start
56:21
getting it to risk, taking on risk you don't understand do.
56:24
You think you can get to 1,000,000 Bitcoin?
56:32
I, I, it'll be hard. It'll be very hard.
56:37
I think so. I mean, did, can he get to it?
56:39
Theoretically, yes, anyone can get to it theoretically, but
56:43
practically speaking, you're going to be driving up the price
56:47
quite a bit and there's going to be, you're going to have to take
56:49
some risks along the way to get there, right?
56:51
And so it's not really about can he get there?
56:55
It's how does he get there and is it sustainable?
56:59
Like I'll give you an example, if, if you look at like the, the
57:04
lending business is a great business, look at Lenin today,
57:06
because it was responsible to where it got.
57:09
We had other guys that were bigger than us theoretically had
57:11
more money that they had more equity.
57:13
They had raised a lot more. They they didn't know how to get
57:16
there responsibly, right? Like lending is five times today
57:19
where it was back in 2021, but there's a lot of guys that
57:22
didn't get there because they were very responsible along the
57:25
way. So can he get there?
57:28
Yes, but it's not necessarily like in theory, yes, you can get
57:31
there. How is where the, the nuance and
57:34
the risk is. And so the, the reason I got my,
57:39
my, my Spidey senses got perked up when I saw these offerings
57:42
because when I saw a dividend, when I saw a dividend and I know
57:45
you have no cash flow or very limited cash flow.
57:48
That to me was when I said, OK, what happens if they don't have
57:52
it? Then they have to go and sell
57:53
some Bitcoin to pay it off. And so that starts depressing
57:57
the price. And the same thing that was
57:58
virtuous on the way out becomes vicious on the way down.
58:01
And so This is why I think now that there are these obligations
58:07
for these dividends and the cash flow that the business offerings
58:09
generates is very limited. I think from now on I'm going to
58:13
be paying very close attention to a lot of these offerings.
58:16
Interesting. It's so it's becoming more and
58:19
more, more and more sophisticated, more and more
58:21
complicated in order for him to raise money in order for him to
58:26
to buy Bitcoin and more risky, right?
58:30
What you were saying, it's not he's not getting 0%, getting
58:34
closer to 10%. But again, as long as number
58:38
goes up, things are OK. But eventually number goes down.
58:44
Have you been in this industry long enough?
58:46
Number eventually goes down. I'm going to drop the article,
58:49
by the way, in the live chat for you guys.
58:51
If you guys want to go check out Mauricio's and now he's a he's
58:56
he's a top, he's in Forbes. Everybody go check out this
59:00
latest article by by Mauricio. I dropped it in the live chat.
59:05
I do want to bring up this. This was a total coincidence.
59:09
We we did not plan this, but check this out.
59:12
So simply did a weekly recap, which of course is powered by
59:16
our friends over at Leaden broke down a couple things that
59:20
happened last week. So Elon Musk exposes 14
59:23
government, 14 government magic money printers.
59:26
That video was crazy. By the way, BlackRock calls BTCA
59:29
global monetary alternative. Trump's executive director US
59:33
will acquire as much Bitcoin as possible.
59:35
Trump America will be the undisputed BTC power BTC
59:39
superpower and then our friends over at lead end.
59:43
You guys did the the opposite of we did, which is highlights for
59:46
the week ahead instead of highlights of what happened,
59:50
highlights of what's coming. So let's do a a quick breakdown.
59:53
And also Mauricio did author this as well.
59:56
That's that's correct, right Mauricio?
59:57
Yes, yes, I do that. I've been doing them for, I
1:00:00
don't know, six years now. And this is, this used to be
1:00:04
basically my homework for the week.
1:00:06
So every time a new week is starting, I look at what's
1:00:09
coming up for Bitcoin. What could move the markets?
1:00:11
So that I'm not caught off guard when they actually happen.
1:00:14
And so it this takes quite a bit of work, but I like putting it
1:00:18
out and people seem to find a lot of value for it from it.
1:00:21
So basically the what I do is I go through the week ahead, what
1:00:24
announcements are coming from either the feds, central banks,
1:00:28
SEC, etcetera, that could impact the space House hearing Senate
1:00:31
hearings. And then I put it all in this
1:00:33
quick summary that that people can read.
1:00:36
And if we look at the week, if we look at this week, I'm just
1:00:40
going to pull it up here on my screen, today is a pretty light
1:00:43
day. Only two Fed member speeches.
1:00:46
Tomorrow we have this interesting House Financial
1:00:49
Services hearing titled Beyond Silicon Valley Expanding Access
1:00:53
to Capital across America. Why I put this in here is
1:00:56
because access to capital could, you know, relate to crypto and
1:01:00
anything that can impact crypto could potentially filter back
1:01:03
into Bitcoin prices. Wednesday we get inflation out
1:01:07
of the out of the United Kingdom, not too much there in
1:01:11
terms of macro, but then Thursday and Friday is when
1:01:14
things get exciting and I'm going to spend most of my time
1:01:17
talking about Friday, which is the options expirations for
1:01:20
Bitcoin. There's about 11.6 almost $12
1:01:23
billion worth of options expiring on Friday at 4:00 AM.
1:01:28
And for those of us who've been in the trading space or in the
1:01:30
mark in the in markets, you, you paid very close attention to
1:01:35
these options expirations and what what, what does this mean?
1:01:39
What, what, what is this concept of a Max Payne price and why
1:01:42
does this have gravity in the markets?
1:01:44
Like why is 85 an important number going into Friday?
1:01:47
The reason 85 is an important number going into Friday is
1:01:50
because what Max paint price means is that on the selling
1:01:55
side of options, there's usually a sophisticated investor.
1:01:58
You either hold the shares and you're selling calls or have the
1:02:01
cash and you're selling puts. So if you're selling these
1:02:05
options, you're you're generally a sophisticated investor or a or
1:02:08
a market maker. If you're on the buying side of
1:02:11
these, you're generally a speculator.
1:02:13
So the Max paint price is basically when most of the the
1:02:16
price at which most of these options expire worthless and it
1:02:20
creates the maximum pain to the speculators who bought them and
1:02:23
the maximum benefit to the institutions that sold them.
1:02:27
And the institutions that sold them have very, very large
1:02:30
balances. Therefore, they can in many ways
1:02:34
participate in the markets such that come Friday at 4:00 AM, it
1:02:38
lands on a price that they are benefiting from.
1:02:42
So 85 K is the Max Payne price for this expiration, which is a
1:02:46
quarterly expiration. Every month you have expirations
1:02:49
at the last Friday of the month, but every quarter, the last
1:02:52
Friday of that the of the month at which the quarter ends, you
1:02:54
have the quarterly expirations. And the quarterlies are used by
1:02:58
a much a larger number of institutions and so they have
1:03:02
much, much more concentrated basic volumes expiring during
1:03:06
the quarter at least. So I would be paying close
1:03:08
attention to 85 going into Friday.
1:03:10
And to keep an eye out on these things going forward.
1:03:13
You can just check in and turn on your alerts every Sunday.
1:03:16
We post what's up for the week ahead.
1:03:17
And we'll, we'll keep posting them under your amazing summary
1:03:21
so that people can get, you know what happened and what's coming
1:03:23
all in one go. That's right, guys, if you want
1:03:26
to see what happened in the week before, check out simply and you
1:03:30
want to see what's going to be happening in the week ahead,
1:03:33
check out leaden and you guys will be able to see it in the in
1:03:36
the simply in the simply thing and also manicio very impressed,
1:03:40
man. It's it's like this is like a
1:03:43
crystal ball of what's to come. Right, this to me is one of the
1:03:47
most under appreciated assets in the entire Bitcoin space because
1:03:51
it is the homework that every institutional grade investor,
1:03:56
every sophisticated investor, we are all looking at these markers
1:04:00
whenever there is a move on a Wednesday because the Fed
1:04:03
announced the Fed rate decision, we have to we can't be surprised
1:04:06
by this. We need to be going into the
1:04:07
week knowing exactly what we believe will happen so that we
1:04:11
can then adjust and re jig. But it's basically an amazing
1:04:15
tool and when that it's free, anyone can come and use it.
1:04:18
Even if you're not a lead in client, you can come and check
1:04:20
this out every week. Absolutely.
1:04:21
Guys go to follow Leaden on X at huddle with Leaden.
1:04:26
Anyways, guys before we move on to the culture segment, which
1:04:30
we're going to talk about all things Leaden or anyone who
1:04:32
doesn't know we, I do want to give a shout out to or my CFO is
1:04:37
going to kill me. I do want to give a shout out to
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the new simply Bitcoin merch that just dropped.
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It's limited get yours while supplies last This has been
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sizes as well so check out the hoodie I'm wearing the hoodie
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right now it's extremely comfortable it literally says
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simply Bitcoin in the tags. We pay attention to detail,
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very, very high quality, so head over to simplybitcoin.com and
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buy some Bitcoin first. But if you want to support the
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show and the channel, check it out.
1:05:15
Anyways, guys, we're going to hit the culture segment.
1:05:18
We have tons to talk about. We will be right back.
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I want to give a shout out to our partner Hive Digital
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Anyhow, we got muddies too in the house today and we're going
1:08:14
to talk about all things lead end.
1:08:16
So I want to talk about my experience first with lead end
1:08:20
because I think it would Maidicio like kind of walk me,
1:08:23
walk me through it. I was like messaging him and
1:08:26
anyhow, so without naming any names, I had AI had a loan or I
1:08:31
had a loan. I had a Bitcoin back loan for a
1:08:34
while and me and Maidicio were going back and forth and I ended
1:08:40
that loan, but I obviously didn't want to sell Bitcoin.
1:08:42
So I just, I kind of rolled it over, like, you know, paid it
1:08:47
back and then I started another loan, a new loan with Leton.
1:08:51
And one of the things that surprised me the most was the
1:08:55
fact that there's no monthly payment.
1:08:57
That blew my mind. I, I remember I hit up Mauricio.
1:09:01
I was like freaking out. I was like, Oh my God, like,
1:09:03
like, dude, like, am I not making my payments?
1:09:07
And I hit up money? So I'm like, yo.
1:09:10
And he's like, no, dude, like it just it just accused and you pay
1:09:14
it back at the end of the term and then you can roll it over.
1:09:17
That to me was my favorite feature because essentially you
1:09:23
need you need like if you need cash, you don't want to sell
1:09:27
your Bitcoin. It's not a taxable event because
1:09:30
it's a loan. You know, at the end of the day,
1:09:33
you still have to make monthly payments, but you guys don't
1:09:36
have monthly payments, which was very, very, very nice.
1:09:39
So that was one of my favorite features.
1:09:41
And then, OK, so that was my first experience.
1:09:43
My second experience was the how fast you get the cash, right?
1:09:48
So think about it, you know, like you have to put yourself in
1:09:51
the mindset. Let's say you send a coin or
1:09:54
whatever, you send a coin, you know, to a platform and you're
1:09:58
like, Oh my God, what's going to happen?
1:10:02
And then I think I messaged Mauricio.
1:10:03
I was like, yo, dude, I sent the coin and within 24 hours I got
1:10:11
the cash in my account. Bing bada boom.
1:10:15
I was like making sure when he says like, did I put the right
1:10:17
account number? And now it's been a great
1:10:20
experience because it's all about, it's all about trust,
1:10:23
right? You, you kind of, you have to
1:10:25
establish trust and at the end of the day, you know you're,
1:10:30
you're, you are giving away custody of your Bitcoin, right?
1:10:32
You are doing that. So you have to do it with an
1:10:36
institution or a company that you trust.
1:10:39
And so far I've had such an amazing experience using you
1:10:43
guys personally. So it's been great to to partner
1:10:48
with you guys as well. And you know, seems like the
1:10:52
fans are the, the the audience is liking it also.
1:10:56
Now I do want to talk about, I do want to talk about the like
1:11:01
the use cases. So why would someone take alone?
1:11:05
Like why would why would someone, you know, give up
1:11:08
custody of their Bitcoin? Why would they, you know, why
1:11:11
would they give up custody of the Bitcoin?
1:11:12
Why would they take on a loan? What is the most what is the
1:11:16
most common thing you guys see on your end?
1:11:20
Yeah. So I'm thank you.
1:11:21
By the way, a couple of points before I go to answer your
1:11:24
questions. So number one, you have the best
1:11:26
partners in Bitcoin for the show.
1:11:28
Like I love Casa, I love Cold Card, obviously love Latin you,
1:11:32
you have like an amazing suite of the things that I use, which
1:11:35
is which is excellent. So the the other point that I
1:11:38
was going to mention is on this point of no monthly interest
1:11:41
payments, there is a very real economic benefit to this.
1:11:45
And I'm working on on, on I guess an essay or some content
1:11:51
to demonstrate the economic value of not having to pay
1:11:53
interest rates or not having to pay interest every month because
1:11:56
we are in fact allowing you to not come up with 1% or or
1:12:02
approximately 1% of the amount you borrowed every month.
1:12:05
So if you assume that the cost of your capital for those
1:12:07
interest payments, it's the same cost of capital for the loan
1:12:09
itself, you're actually, you know, tacking on almost one
1:12:13
extra percent if you're, if you're borrowing from a company
1:12:16
that does require monthly interest payments.
1:12:18
So there's a very real like their 12 is not hour 12, their
1:12:22
13 is not hour 13. Your your actual money out the
1:12:24
door is a lot higher when you're having to make monthly payments.
1:12:28
But to bring you to the to your question, the matter at hand,
1:12:30
which is what do people take loans for?
1:12:33
So a loan is not necessarily something a loan is AI would
1:12:39
something I'd like to define as a non discretionary use.
1:12:43
What what does that mean? People don't typically wake up
1:12:46
one morning and say, Oh my God, it's a great day for a loan
1:12:49
today. I'm going to take it.
1:12:50
And then I'm going to see, well, what what happens with my life
1:12:54
after I take out the loan. The, the way this process
1:12:56
generally comes about is you're going about your life, you get
1:13:01
hit with say an unexpected tax bill, right like you, you now
1:13:05
have to come up with a couple 100 grand or 100 grand to pay
1:13:09
the government for whatever transactions you did the year
1:13:12
before. You didn't necessarily, you
1:13:14
weren't necessarily accounting to have to put that cash all out
1:13:17
the door. And now all of a sudden you're
1:13:18
saying, OK, I have to pay 100 grand.
1:13:21
What do I do? I have 100 grand at the bank.
1:13:23
No, Can I borrow that 100 grand from my home lien on the credit?
1:13:27
No, I can only borrow this much. So you'll start going through
1:13:30
the sources of cash to pay and then eventually you will realize
1:13:34
that your Bitcoin can be used as collateral for the loan that you
1:13:37
need, that you can get the loan within 24 hours and you don't
1:13:40
lose the upside on the Bitcoin. So the two main reasons you
1:13:43
would, you would borrow from, from your Bitcoin instead of
1:13:45
selling it is #1 you don't trigger a taxable event most
1:13:49
often because borrowing from it is, again, most often not a
1:13:52
taxable event by way of selling. You're not parting ways with the
1:13:55
acid. The second one is you get to
1:13:57
keep the upside. So a, a, a, a big thing that
1:14:00
used to, you know, the bitcoins used to say is, oh, why don't
1:14:02
you just sell Bitcoin, do what you need to do, and then buy
1:14:05
back Bitcoin later on. And anyone that's tried to do
1:14:08
that will tell you, you just don't buy back the same amount
1:14:12
because Bitcoin goes up and to the right and because you have
1:14:15
to pay taxes on the initial sale.
1:14:16
And so you're just never able to get back to where you were.
1:14:19
So you lose the, the trajectory of the asset itself, and then
1:14:22
you may trigger a taxable event. The use cases that we are seeing
1:14:26
today, believe it or not, in North America, one of the most
1:14:30
common use cases is buying property.
1:14:32
So people are, are no, are holding on to the Bitcoin they
1:14:36
had for, you know, five years. It's gone from about 30 K to now
1:14:41
500K. They are married.
1:14:44
They are having their first baby or their second baby.
1:14:47
Wife wants to move to a bigger place.
1:14:50
Husband doesn't want to sell the Bitcoin.
1:14:52
What can we do? Let's find and I'm saying that
1:14:55
there's these memes out there that like of, of these cases
1:14:58
where my husband doesn't want to sell the Bitcoin like this is
1:15:00
real. We, we have dealt with these
1:15:03
people and they will come in and the compromise generally
1:15:06
becomes, well, I'm not selling the Bitcoin.
1:15:08
I'm going to use it as collateral.
1:15:10
I'm going to get the cash I need.
1:15:11
I'm going to buy the home you want love and where our kids
1:15:13
can, you know, we can buy the take, send this kids to the
1:15:15
school we want, etcetera. It's this way of porting your
1:15:20
Bitcoin wealth into your real world experience.
1:15:23
A lot of our clients have ample amounts of Bitcoin.
1:15:26
They will go to a bank to ask for the same mortgage that
1:15:29
they're coming to Lenin for. And the bank will say no because
1:15:32
the mortgage, anything the bank gives you is not really based on
1:15:35
your assets. It's based on your income backed
1:15:39
by your assets. But if you don't have the income
1:15:43
and if you're, if you're a contractor, if you're a self
1:15:46
owned business, you won't have that deductible, the tax
1:15:50
deducted income that came into your your bank every month.
1:15:54
Therefore the bank says you're no good to us.
1:15:56
And so people come to us to really basically get the
1:16:00
financial services they can't get at a bank.
1:16:03
And so the big ones we're seeing now is buying property, starting
1:16:07
businesses, divesting, even buying more Bitcoin is a common
1:16:11
one. People, people often times come
1:16:13
borrow with the Bitcoin to buy more Bitcoin.
1:16:15
But those are the use cases. You know, I like to think of us
1:16:19
as we don't really power loans. We power your life to do what
1:16:22
you want through the loan. So you're, you're not taking the
1:16:25
loan, you're buying a house, you're not taking the loan,
1:16:27
you're starting a business. I have a lot of clients that are
1:16:30
relocating to places like like El Salvador or Thailand.
1:16:33
And so they'll come to me to either build their home with
1:16:36
drop draw either monthly or quarterly to, to build the home
1:16:40
itself. They'll buy, they'll draw a
1:16:42
couple 1,000,000 bucks to buy the home outright.
1:16:45
And they'll also borrow from me to like buy their car.
1:16:48
So they'll, you know, there'll be like $1,000,000 loan to buy a
1:16:50
house. Then later on it'll be like a
1:16:52
$50,000 loan to buy a Jeep or to buy a, a, a Bronco or something
1:16:56
along those lines, right. And so it's really interesting
1:16:59
to see, but basically we're powering Bitcoiners to build
1:17:02
things, had to do things and to buy things.
1:17:05
Without selling their Bitcoin. Without selling their Bitcoin.
1:17:07
And then money. So let me ask you something.
1:17:09
So if there's no monthly payments, how do you guys as a
1:17:13
business, like how, how does that work?
1:17:15
Like how do you guys have cash flow?
1:17:18
It's a great question. So you would think, I mean, at
1:17:21
first glance, you would think that the cohort of people that
1:17:28
keeps these loans for many, many years is, is a very high number.
1:17:32
The, the reality is that because Bitcoin is so volatile, people,
1:17:39
most often people end up closing their loans after a big run up
1:17:43
right after Bitcoin hits your target.
1:17:45
And then and therefore you no longer need the loan.
1:17:47
And so you've you've either been able to repay it and then your
1:17:50
way back, Bitcoin comes back down, you'll take out another
1:17:53
loan depends on what you're using it for.
1:17:56
But typically speaking, the the average, the average duration of
1:18:00
a, let alone is somewhere in the six month range.
1:18:04
Because again, it moves so fast. You know, if, if you took out a
1:18:07
loan at 50K because you, you needed it for like a few months
1:18:11
or whatever, and then in those two months, Bitcoin went to
1:18:13
100K. A lot of times you don't want to
1:18:15
wait for the money to come back. You're just, I want to lock in
1:18:17
the, the, the new price of Bitcoin.
1:18:18
I'm going to settle my debt and I'm going to just let it ride.
1:18:21
And so that, that is how it's worked today.
1:18:25
You know, later on, if, if the use case evolves and the way
1:18:28
people are using these loans evolves, we may have to adapt.
1:18:30
But so far it's been working very great for our clients and
1:18:34
for us. Amazing.
1:18:35
And one of the things also too that I really appreciate what
1:18:39
what you guys, what, what you guys have done is the barrier to
1:18:44
entry. So what do I mean by that?
1:18:47
So the minimum loan you guys offer is $500 number one.
1:18:51
And #2 is this is not just a, which is which again, not to
1:18:57
name any names, but this is not an American centric product.
1:19:03
You guys focus a lot on the international because the access
1:19:09
to capital in the US we are very privileged or in Canada as well,
1:19:13
we're extremely privileged. But Aicio, as you and I both
1:19:17
know, not everyone has those types of privileges in the
1:19:20
global S, So could you talk a little bit about that?
1:19:24
100% that the reason Len has a $500 loan to start and no one
1:19:29
else does is by design. When we were starting this
1:19:33
business, we were looking at who would need this product, and I'm
1:19:37
from Venezuela. A lot of the people in our team
1:19:38
are from Latin America, and we knew how badly people in this
1:19:42
part of the world needed these services.
1:19:45
It's already scary enough to enter into Bitcoin when you're
1:19:50
in a hyperinflationary or authoritarian regime that, that
1:19:53
you're already doing something you don't understand.
1:19:55
Then we were looking around at what are the other options and
1:19:58
people other companies were, you know, their minimum loan sizes
1:20:01
were 10 grand, 5 grand. A you can buy a house with with
1:20:07
in parts of Latam with that collateral and B it's a it's an
1:20:12
It's an amazingly high number to try something you've never tried
1:20:15
and to work with someone you've never worked with.
1:20:18
And so at Lenin, we needed, we wanted to be able to offer the
1:20:22
lowest ticket size loan efficiently without losing money
1:20:25
in processing that loan, which is, by the way, you know, takes
1:20:29
a lot of coordination to put out $500 to the other side of the
1:20:32
world for, for whatever 2025 buck admin fee that we're
1:20:37
getting. But we made it, you know, we, we
1:20:38
got it. And the intention here was was
1:20:42
many fold, but the main, the main things we wanted to achieve
1:20:44
was one, whether you were wealthy or not wealthy or no
1:20:49
matter where in the world you are, you should be able to test,
1:20:51
let in with an amount that you're comfortable with and
1:20:54
$1000 to use as collateral for your loan.
1:20:57
We thought was a pretty the sort of good balance between friction
1:21:01
and what we need to make the, the, the the loan itself viable.
1:21:04
And it would give people the ability to, to live through the
1:21:08
experience of getting a loan funded, sending the collateral,
1:21:11
closing it out, getting your Bitcoin back.
1:21:13
And with 1000 bucks, 500 really, cuz you're, you're putting 1000,
1:21:17
you're getting 500 bucks, you're really putting $500.00 at risk
1:21:20
per SE to test out the service. Importantly, if you were
1:21:24
somebody in Latin America that was taking out $1000 loan to buy
1:21:28
a computer, if I asked you to send me $10 interest payments
1:21:32
every month, you're going to be paying more money going to the
1:21:34
bank and sending us the wire than the 10 bucks we were
1:21:37
getting. So we also wanted to design a
1:21:39
product that was easy to use no matter where you were.
1:21:42
And so that's the reason. And the beautiful thing about
1:21:45
the whole thing to wrap it in a bowl is that we at the
1:21:50
beginning, when we initially launched lead and we, we know
1:21:53
what Bitcoin could do or we believe the Bitcoin can help
1:21:56
people regardless of where you are, whether you're in the US,
1:21:58
whether you're in Latin, who needs it more Clearly, people in
1:22:02
places where there are access, no access to financial services.
1:22:05
That's not to say people in America won't experience the
1:22:07
basement and inflation. They'll need it too.
1:22:09
And we love our American clients as well as international
1:22:11
clients, but our platform, we were one of the first ones to do
1:22:14
it in Spanish, offer these products in Spanish.
1:22:17
And we're not just lip servicing Spanish legal agreements,
1:22:19
customer support, the whole 9 yards.
1:22:21
Same with Portuguese, same with French.
1:22:24
And so that and, and our customer support team speaks
1:22:29
these languages. You're not just, you know,
1:22:30
writing into some AI system that spits out an answer.
1:22:33
We'll get on a call with you if we have to in your language and
1:22:36
we'll help you get what you need.
1:22:38
So a lot of those things came together to make Lenin what it
1:22:42
is today. But it was always it, it always
1:22:45
came from a point of, from a place of giving people something
1:22:50
that they could test easily and giving people something that
1:22:54
they could access when they needed it.
1:22:56
And that's really the, the, the thinking behind the features you
1:22:59
mentioned. Beautiful.
1:23:00
So before we wrap it up, I, we do have some questions in the
1:23:03
chat. Bill C says what percentage of
1:23:06
loans get margin called? Margin called it depends on I
1:23:11
mean you mean liquidated or margin called margin?
1:23:14
Calls is when they ask you essentially liquidated I think
1:23:18
is what he meant. Yeah, liquidated.
1:23:19
So I'll give you I'll give you an an interesting data point and
1:23:23
I'll have to I'll have to double check my letter BI.
1:23:26
So don't, don't I need to double check.
1:23:29
But as as of Friday, this was true.
1:23:31
We haven't liquidated a single Bitcoin loan this downturn.
1:23:34
And so just to give you a sense of of, you know, the, the moves
1:23:39
versus the actual liquidation. And again, if you if you want to
1:23:43
paint the picture for yourself, when you go to the Lenin website
1:23:47
right before you apply for a loan, it shows you if I take a
1:23:51
loan here and price does this, what are my key levels?
1:23:54
You can model all of that in and the little scenario player that
1:23:58
we have in the calculator at the bottom.
1:23:59
So you can see roughly it equates to about a 29% drop in
1:24:03
spot from the time you got your Bitcoin for for you to have to
1:24:07
send more additional Bitcoin to the loan.
1:24:09
Second question from Barcenic can use let in if you have BTC
1:24:16
in an IRA with I trust. We can only take spot Bitcoin as
1:24:21
collateral today. So we will not be able to take
1:24:24
your IRA Bitcoin as collateral for the loan.
1:24:27
It would have to be spot Bitcoin that you sent to us that it
1:24:29
wouldn't. We wouldn't be able to do it
1:24:31
through a trust. Last question from I'm sorry
1:24:36
bro, I don't know how to pronounce your name but someone
1:24:38
in the chat why do you help some jurisdictions and not Nevada?
1:24:43
So we love all jurisdictions and our goal and our plan is to open
1:24:48
up as many jurisdictions, as many states as possible.
1:24:51
In the United States, lending is regulated at a state level and
1:24:55
so in some, some states have differing laws than other
1:24:59
states. And so the reasons you see, you
1:25:02
know, lens, let alone is available in some States and not
1:25:05
others is because in some states, you know, the, the, the
1:25:08
requirements are different in places like Nevada.
1:25:11
So we are working diligently to open up the states in the US
1:25:15
where our loans are today not available.
1:25:17
We, we obviously want to service them as much as they want our
1:25:21
loans. We trust me, we want to service
1:25:23
them more than that. But at Lennon, we've always had
1:25:26
a squeaky clean track record with regulators.
1:25:29
That is what enables us to interface with banks.
1:25:31
That is what enables us to get the licenses we have and we will
1:25:34
continue to do so. We will get to you, but we will
1:25:37
get to you diligently and it'll be like everything else we do.
1:25:41
We were just laying the the regulatory foundation so that we
1:25:43
can be there and and get there through the front door and and
1:25:47
stay there and grow with you. Beautiful, beautiful.
1:25:50
All right guys, if you guys want to go check out leaden, go to
1:25:53
leaden dot IO today we're going to have Mauricio on the show on
1:25:58
a semi regular basis of it seems like the fans are a big fan.
1:26:02
We had Adam on the other day, which was absolutely awesome and
1:26:07
absolutely love these guys. Personally use them as well.
1:26:09
Big fan. Before we close out the show, I
1:26:12
do want to give a shout out to simply Bitcoin sponsor bitblock.
1:26:16
Boom guys, the conference is literally next week.
1:26:20
Hope to see you guys in Dallas, TX, one of the best Bitcoin
1:26:23
conferences of the year. April 3rd through the 6th.
1:26:26
So it's literally right around the corner.
1:26:28
Hope to see you guys in Dallas. If you use promo code BBB 21,
1:26:34
you get $100 off your ticket. I'll pull up a QR code for you
1:26:39
guys right there on the screen. BBB 21, you get $100 off your
1:26:43
ticket to Bit block. Boom, it's next week, it's in
1:26:47
Dallas, TX. We hope to see you there.
1:26:50
The entire Simply Bitcoin crew is going to be there Myself,
1:26:54
Ruston, Dante Opti can be a great time.
1:26:57
You definitely don't want to miss it.
1:26:59
Anyways, I do want to give a very special special shout out
1:27:03
to our guest today. Let in no Lennon Mauricio from
1:27:07
Leaden. Today is March 24th, 2025.
1:27:12
I hope you guys enjoyed simply Bitcoin live Smash that like
1:27:15
button. We will be back tomorrow for a
1:27:18
brand new episode. Take care, everybody.
1:27:20
Today's episode was brought to you by bitcoinwell.com, a
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