Latest / Simply Bitcoin / $5.7T Bank CONFIRMS Bitcoin Is Going Global!! | EP 1252

Transcript

$5.7T Bank CONFIRMS Bitcoin Is Going Global!! | EP 1252 · Simply Bitcoin

0:00
This weekend, a huge $5.7 trillion bank just confirmed
0:05
that they are getting flooded with Bitcoin interest.
0:08
But they're not the only bank being forced to change their
0:11
Bitcoin positions. Literally last week, another
0:14
trillion, actually $2 trillion banks are going All in all
0:18
Bitcoin. We have Goldman Sachs quietly
0:20
disclosing that they have bought a whole lot more Bitcoin through
0:24
the ibit ETF. And of course, JP Morgan
0:27
announced that they are allowing their customers to buy Bitcoin.
0:31
We are seeing a shift in the narrative, but really the
0:34
question is why are these banks finally getting into Bitcoin
0:38
today at all time highs? Before we answer this, let's
0:43
play you the clip. Here we go.
0:48
That call has worked out quite well, I would say.
0:50
Yeah. And I got to ask you, right,
0:52
because everybody's talking about it.
0:53
We had Bitcoin BTC hitting a new record high just overnight,
0:57
north of $109,000 a coin. Are clients asking about that
1:03
kind of exposure too or or not? Well, generally I think across
1:09
the board you've had more interest in, in, in crypto.
1:14
We don't engage or or provide investments around crypto.
1:18
This is not a space. We're active in this is not or
1:22
not yet. As of today, we're not active in
1:25
this space. OK, All right, Fair enough.
1:27
Another. So interesting.
1:32
Interesting take there. First of all, Nico, let's chat
1:35
about that. You're hearing him say, yeah,
1:38
we're getting a lot of interest, but we're not there yet, which
1:41
is very interesting. Again, these guys are basically
1:43
$6 trillion, one of the biggest banks in the world.
1:45
And you can tell they are getting bombarded with this
1:48
Bitcoin message, but they're still not there yet.
1:51
And it does remind me of Vanguard.
1:53
Remember what happened with Vanguard when the ETF launched?
1:55
They're like, yeah, we're not touching this.
1:57
And then, you know, surprisingly, the CEO had to
1:59
step down like a week later and everyone was saying, yeah, it's
2:02
because they didn't get into Bitcoin.
2:05
So that's the first little tidbit.
2:06
I know you might be watching this and like this, some click
2:08
bait stuff. But you can tell that he is
2:11
being a little cautious here. He doesn't want to go into
2:14
Bitcoin, or rather, their bank isn't officially getting into
2:17
Bitcoin. And he's holding his words
2:18
tight. He's sitting here like, you
2:20
know, we're not there yet, not today.
2:22
But I think that just goes to show even though we're seeing a
2:25
lot of institutional interest in Bitcoin right now, they haven't
2:28
fully turned on the burners here.
2:31
They're not fully in Bitcoin yet, but you know that they're
2:33
having these conversations. It's on the horizon.
2:36
And and then I'll, you know, I'll give you guys the context
2:38
of some other big news going on. But Nico, what's your take on
2:40
this vid? Yeah, first of all, smash the
2:42
like button if you guys are enjoying the live stream, Opti
2:44
and I are in Vegas for Bitcoin 2025.
2:46
We're going to be trying to live stream from the floor tomorrow,
2:50
Wednesday and Thursday. It's going to be a whole lot of
2:52
fun. So you guys definitely want to
2:53
tune in. But my 2 stats here is like,
2:55
look, no one's better than their incentives.
2:57
Fundamentally. He was sounded a little bit
3:00
aggressive in that answer, in that response.
3:03
He was, you know, he was a little bit like, what are you
3:05
talking about? We don't offer that type of
3:07
stuff. But if you connect that with the
3:09
news from Jamie Dimon, you know, Jamie Dimon, big breaking news.
3:13
I think we covered this last week essentially, you know,
3:16
largest bank in the world. Jamie Dimon's not a big fan of
3:19
Bitcoin. You saw him say so many things
3:21
about Bitcoin throughout the years and he conceded.
3:23
He says, you know what, like we're gonna we're gonna have to
3:27
sell this, you know, we're gonna have to sell this for our
3:29
clients. And you know, these are market
3:31
forces at work, right? Clearly there's a lot of
3:34
interest over there at UBS. You know, they deal with high
3:36
net worth individuals. These people don't necessarily
3:39
want to go to, you know, a Bitcoin on ramp and, you know,
3:45
stack some stats and put in self custody.
3:47
They're they're, they're, you know, they're, they're used to
3:49
that, you know, custodian and investment bank does everything
3:53
for you kind of hold your hand and you know, they're calling
3:57
and they're basically saying, hey, guys, do you have Bitcoin,
4:00
right? And a lot of these banks like
4:03
imagine they don't, they don't offer it.
4:05
This is why Jamie Dimon did a 180.
4:08
He did a 180 because he realized that he was going to lose market
4:11
share, he was going to lose clients if he didn't offer what
4:15
the clients wanted. Despite his feelings, he had the
4:18
emotional intelligence to see that clearly.
4:22
You know, this gentleman at UBS seems like a very smart fellow,
4:26
doesn't see the writing on the wall, doesn't see, you know, the
4:29
the fact that. I think he does see the writing
4:31
on the wall. Yeah, but I mean, dude, the
4:32
vitriol in his voice when he was answering that question, like he
4:35
was mad, man. He was mad.
4:38
He was upset. He, he was, he's like, Nah, we
4:40
don't offer it. You know, like he wanted to
4:42
like, kind of rub it in your face a little bit.
4:45
You want to pull up that article?
4:46
Yeah, yeah, So here I got for the audio listeners, of course
4:50
we covered this last week, but even the Time article or Time
4:53
magazine is writing about, and here's the headline, the
4:55
significance of Jamie Diamond's reluctant Bitcoin surrender.
4:59
And we've been talking about it all last week.
5:00
I I even had to like give Nico a, a crash course on what's
5:04
going on with the bond markets. And you're seeing that they're
5:08
being forced to adopt Bitcoin whether they want to or not.
5:10
They have to adopt something that is outside of the
5:13
traditional financial, but basically they have to upgrade
5:16
their money here. There is no longer a risk free
5:18
return on bonds because no one wants to buy it and they have to
5:22
look to alternative places, which is of course Bitcoin.
5:24
So as I said last week when I covered this, I think it was
5:27
Wednesday, if Jamie Dimon says something, whether you like him
5:30
or hate him, he owns the biggest bank in the world and him
5:33
basically conceding his point against Bitcoin.
5:35
I think this is huge news and a lot of people aren't really
5:38
noticing this. I know a lot of normies don't
5:39
really understand what's going on with this Bitcoin stuff.
5:42
They're probably not following the traditional financial world
5:45
as closely as we are. They don't really care about
5:46
what the banks are doing. They just want their banking
5:49
services to work. And here we are.
5:51
They are bending the knee. Now going forward a little bit,
5:53
you know, just covering the news for you guys going back, Goldman
5:56
Sachs reportedly is holding over $400 million in spot Bitcoin
6:00
ETFs in their new filing. And they have doubled down.
6:03
They have boosted their holdings and of course, BlackRock Bitcoin
6:06
ETF. The pair miner highlights growth
6:08
in cloud miner. That's whatever.
6:10
But anyways, here institutional confidence in Bitcoin continues
6:13
to rise as Goldman Sachs recently increased its holdings
6:16
in Blackrock's I share Bitcoin trust by 28% guys.
6:21
That's a big move 28%. They're doubling down, expanding
6:24
their Bitcoin holdings and now they hold over 30.8 million
6:28
shares valued at. I got different numbers on this.
6:31
This article says 1.4. I saw it was 1.6 billion.
6:34
I even saw people say it was around or over 2 billion.
6:37
So we're seeing that they are being forced to adopt Bitcoin at
6:42
this point, whether they want to or not.
6:43
Everyone needs some Bitcoin exposure and we've been talking
6:45
about this for a long time. The only winning move is to get
6:48
off 0 and then doubling down. We've been covering this as
6:51
well. You guys know we love when banks
6:53
get stupidly bullish on us and Standard Chartered also last
6:57
week doubled down and they're like yeah, we're going to 500 K
7:00
soon. It's going to get there.
7:02
Maybe not this cycle, even though we're starting to, I'm
7:05
starting to feel bullish like we might be getting there this
7:07
cycle, but they're like it's going to get to 500 K.
7:10
So the real question is, is how come these banks are doubling
7:15
down on Bitcoin? What is really going on on the
7:17
back end 'cause my take from this is they see what we see.
7:21
We're not here. We're not, you know, 150 IQ
7:24
financial analysts here, but if we can see the problem, then you
7:28
got to know that they can see the problem, but they can't
7:30
publicly come out and be like, hey, we're going all in on
7:33
Bitcoin. There's still some reputational,
7:35
you know, damage control that they have to do because if they
7:38
embrace Bitcoin at this point, it's it's not fully, as Niko
7:41
likes to say, you know, in the Overton window, it's still
7:45
outside the Overton window. But we're starting to see that
7:49
the banks, even though we're here to separate, you know,
7:51
money from state, we're we're not really the biggest bank
7:54
guys. They have to adapt or they will
7:58
perish. And this is what we're seeing
7:59
right now. This is very interesting times.
8:01
Of course, we're at I think we kissed 110 this morning.
8:05
You know, the price is starting to get frothy.
8:07
People are starting to I mean, I'm starting to feel the life
8:09
come back into me because of the price.
8:11
We're here in Vegas for the conference, starting to feel the
8:14
energy. But you are starting to see that
8:16
the tide is shifting and now the narratives around Bitcoin are
8:19
becoming legitimate. We are a legitimate thing here
8:22
and people have to own it whether they like it or not, as
8:25
Jamie Diamond says, what what was the quote?
8:27
I don't like smoking, but I will protect the right for you to
8:30
smoke. Says he's not a fan of Bitcoin.
8:32
And now he's like, look, I don't like Bitcoin, but if you want to
8:35
buy this thing, you can buy it. And we can make money off of you
8:38
buying it. We will sell it to you.
8:41
Another thing that I'll say too is, yeah, I mean, it is these
8:45
last two years I've been absolutely historic in in, in
8:49
Bitcoin's history. I mean, Bitcoin essentially has
8:52
been accepted by Tri Fi and it's been accepted by the world's
8:58
most powerful government, which is the United States government.
9:02
They're posting it on their X account.
9:04
They have every intention of making America, you know, the
9:07
strategic Bitcoin reserve capital of the world.
9:09
There's multiple states like the great state of New Hampshire,
9:12
great state of Texas, both passed bills that would
9:15
essentially legalize the states creating their own strategic
9:19
Bitcoin reserves. So I mean, you know, the Bitcoin
9:22
adoption is completely on fire. It's taking a new, you know, a,
9:26
a, a new leg. I mean, this is what we talked
9:29
about, You know, back in 2018-2019 era, you always hear
9:34
like one of the copes was like the institutions are coming and
9:37
blah, blah, blah, blah, blah, blah.
9:38
I mean, they're here. I mean, they dip their toes in
9:40
at least. They dip maybe.
9:42
And what I will say, yeah, a couple.
9:44
Billions just dip in their toes what I will.
9:46
Say too is like, you know, like think about how far we've come
9:49
2021 Naimbu Kelly makes his historical announcement
9:54
basically saying that, you know, Elsa bitcoins legal tender in El
9:57
Salvador and you know, four years later, look at where we
10:02
are. So like imagine four years from
10:04
now. I mean, I think we're going to
10:05
see global Bitcoin adoption. I think it's a big reminder to
10:08
everyone though. What I will say is, you know,
10:11
take self custody of your Bitcoin, not your keys, not your
10:14
cheese. That's something that very
10:17
important to keep in mind. Like regardless of cause, what
10:20
I've seen this cycle Opti is this huge effing influx of the
10:24
number go up crowd, which are great.
10:26
Like, I love you guys. You mean you but?
10:29
No, I I take self custody of my coins.
10:32
I'm multi sig. You know, I go through that
10:34
whole thing. I don't even have coins.
10:37
I have 0 Bitcoin. But he owns MicroStrategy now.
10:41
No, I don't, I don't own, I don't own anything.
10:43
I, I, I don't own zero. I don't have any Bitcoin.
10:46
I don't have any MicroStrategy. I just, I'm a just a proponent.
10:51
But no, like, yeah, there's a huge like number go up crowd
10:54
that are buying, you know, MicroStrategy or, or the spot
10:58
Bitcoin ETFs and they're just concerned about number go up.
11:02
But I think it's important to remember why we're all here and
11:07
you know, the sovereignty that Bitcoin grants us, but only if
11:11
you take that Bitcoin in self custody, so.
11:13
Hey, Nico, we had a this is I was literally the good great
11:16
leading comment here by Winsome hacks on YouTube because I was
11:20
going to basically pose the same question.
11:22
And Winsome goes, we are already seeing global adoption.
11:24
It's just a matter of quote what for.
11:27
And I know that now as Bitcoiners, you know, we are
11:30
seeing the banks, we are seeing the nation states kind of get
11:32
into Bitcoin and there is a big push back within like, you know,
11:36
you know, like the OG more ideological Bitcoiners.
11:39
And I think the question or rather begging the question,
11:42
like, is this a good thing that banks are getting into Bitcoin?
11:45
We know you guys love this topic on YouTube because it's every
11:48
time we talk about banks, people are just like clicking on the
11:51
video, watching the video. And on the one hand, I, you
11:54
know, like I fundamentally am not the biggest fan of the
11:57
banks. Remember the 2008 crisis and
11:59
what all that happened, financial crisis.
12:01
We know they never got, you know, no one went to jail, they
12:04
got bailed out. We basically paid the bill and
12:06
now they're coming into Bitcoin and there is a lot of pushback
12:09
from people and kind of asking or rather maybe lamenting and
12:13
saying like this is not what I was here for.
12:15
You know, I wasn't here for the banks to get into Bitcoin.
12:18
But then there's the other camp that's especially saying this is
12:21
how hyper bitcoinization happens is by these institutions and
12:25
these banks realizing that Bitcoin is superior money.
12:28
We're at the it's a superior asset stage.
12:30
But until the whole world is on boarded onto Bitcoin and whether
12:34
you want to argue about technicalities, whether that's
12:36
even possible, this is how we get to the crazy numbers that we
12:41
all talk about that we all you know, like to speculate and chip
12:44
post about is this is how you get Bitcoin to millions of
12:47
dollars per coin. You know, this is how we get to
12:50
$400 trillion market caps, etcetera.
12:52
Remember the sailor meme of the three things that needed for
12:55
Bitcoin to go to 5 million? It is banks custody Bitcoin, the
12:59
fasby accounting rules and the ETFs.
13:01
Well, all of this seems to be shifting now and there it
13:05
shifted, it happened. But I mean, I rather, I guess
13:08
the way I was going to say the narratives around it are
13:10
shifting. Hey, Sue, Nika, Nika, lower your
13:13
time preference. But, but I think it begs the
13:15
question here, 'cause there is a lot of people that I guess are
13:19
feeling maybe disappointed or let down of the direction of
13:22
Bitcoin. And I'm just like, guys, this is
13:25
how it was going to happen inevitably.
13:27
I think I'm, you know, from AI mean we had tone bays on the
13:31
show. I think it was like last week or
13:33
so and tones tones and OG he's been in the space for a long
13:37
time and he was talking essentially about the
13:40
underperformance of Bitcoin this cycle and I and I agree with
13:42
him, you know so yeah, I mean, look, we're we hit all time
13:48
highs. We kissed 112 K.
13:51
The previous all time high was 109.
13:54
I mean, if this is like the way Bitcoin's gonna go from here,
13:57
bro, like we're in for, we're in for a long while.
14:01
I mean, if it takes longer, it's it's still a number go up.
14:04
I mean, that's fine. But I think a lot of us are
14:07
spoiled by previous cycles and those crazy, crazy kind of blow
14:10
off tops. We get one this cycle.
14:13
I think we got a mini one in November or December of this
14:17
year. We got like a mini kind of
14:18
euphoria phase. And then, you know, I think
14:21
Trump, it peaked when Trump was inaugurated and now all of a
14:25
sudden, you know, life is coming back to the market slowly but
14:28
surely. Anyways, before we move on to
14:30
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All right everybody, at the time of recording the Bitcoin price
17:39
is $109,440 block height 898,478 SAT per dollar 914 Satoshi's
17:48
under 1000. Absolutely love that market cap
17:51
2.182.17 trillion Bitcoin price versus gold market cap 9.23%
17:59
Percentage issued 94.62%. Declined from all time high
18:03
-2.3% Realized monetary inflation rate of Bitcoin
18:07
currently sitting at .84%. Grand scheme of things, we're
18:11
just getting started. Anyway, so we have a video clip
18:15
of Treasury Secretary Scott Besant Opti.
18:19
What is the clip about? Yeah, so he he came out and he's
18:24
he's kind of doubling down on just being super bullish on
18:27
Bitcoin. And we actually covered this a
18:28
little bit last week. We did get kind of a a news
18:31
story talking about the regulatory environment around
18:34
Bitcoin and it's going to be very favorable.
18:36
Well, it looks like it's going to get pushed in very quickly.
18:39
And it's something that they are actively kind of vying for,
18:43
which is kind of part of this trend we've been talking about
18:45
here. You know, Nico loves the saying
18:47
elections have consequences. We're seeing the Trump
18:49
administration kind of go full in Bitcoin.
18:52
We're seeing the Trump family themselves go fully into
18:54
Bitcoin, Bitcoin, and now it seems like, and also we're
18:58
seeing the SEC now has some favorable news and kind of
19:01
favorable views around Bitcoin. Well, it looks like the Trump
19:04
administration is confirming that they're going to push
19:07
better Bitcoin regulations. Of course, they're going to say
19:09
crypto, but better regulations, which of course would mean
19:13
creating America as the Bitcoin superpower.
19:15
And as an American, I'd just love to see this.
19:17
So let's play this clip. We are going big on digital
19:21
assets. So Trump administration has made
19:26
digital assets for priority. Past administration starved and
19:31
Olin's made extinct a lot of these companies and pushed it
19:34
offshore. So what we want to do is apply
19:37
the highest US regulatory and AML standards to digital assets,
19:46
especially stable coins. And I've seen estimates that
19:50
just over the short term stable coins could the create 2
19:54
trillion of demand for U.S. Treasuries and Treasury bills.
19:59
To put that in context, the numbers probably.
20:05
Dude, I mean. Well, first of all, let's let's
20:08
talk about they he's, they keep saying digital assets.
20:10
And I think that is, I think we've moved away from member for
20:14
a long time. When we got in there, you know,
20:16
2017 ish, it was Bitcoin, not crypto.
20:20
I think now we got to do the the new meme of Bitcoin, not digital
20:23
assets. But hey, you know, we'll take
20:26
the win where we can. And and Nico, actually I want
20:28
you to cover this because he didn't mention stable coins.
20:30
You went really hard on the genius hack last week.
20:33
How that's going to, you know, indirectly help Bitcoin.
20:36
And I think we're seeing this play out again, the the
20:39
narrative around this new regulation.
20:40
Of course, you said KYC, AM L, etcetera, is that it's going to
20:45
get pushed through in August. So if that is the case and they
20:48
are kind of, you know, speed lining this, we might be seeing
20:52
some crazy stuff happen in the US and it might be aligning
20:55
perfectly with a bull run kind of run up next leg up.
20:58
So interesting stuff here. But Nico, what's your thoughts
21:02
here? You know the the push for stable
21:03
coins is very interesting. Yeah.
21:05
I mean, look, so I think Bitcoiners originally had this
21:09
theory that specifically in developing countries, what
21:12
you're going to see is like mass adoption of Bitcoin because
21:16
their Fiat currencies were so unstable.
21:19
But I think what Bitcoiners forgot, I mean, there's no
21:22
forgetting, but what the market has shown is mass adoption of of
21:27
stablecoins specifically in the global South.
21:30
And the reason for that I think is most people on planet Earth
21:34
live paycheck to paycheck. Most people don't have the
21:36
privilege of being able to save. So you want something from their
21:41
perspective that is somewhat stable and hence the name for
21:46
them to essentially transact with and, you know, and all that
21:49
stuff, right? And also there's the illusion of
21:52
the dollar, right? Like if you live in a country
21:54
that has, you know, 15%, twenty percent, 50% inflation, you look
21:59
at the dollar and you're like, wow, like this is the ultimate
22:01
currency. So there's an educational
22:03
component to it as well. But the reason that I'm a fan,
22:06
number one is number #1 is Tether, which is, you know, by
22:12
far the largest stable coin issuer.
22:18
You know, they're bitcoiners through and through, right?
22:21
That's number one. Number two, they've invested in
22:24
a lot of, you know, pro kind of freedom content like the Rumble
22:28
platform. It invested a lot of money in
22:30
Rumble, you know, alternative video platforms.
22:34
So again, you know, the Tether guys aren't altcoiners.
22:38
They're Bitcoiners through and through.
22:41
But I think bitcoiners have to understand too that market
22:44
forces are market forces, right? And market forces are saying,
22:47
hey, you know what? There's demand for dollars in
22:51
the developing world. Now, the reason I don't think
22:53
that this is a long term issue for the adoption of Bitcoin, the
22:58
reason that I see it as a as a positive is because it just
23:01
functions as a Trojan horse. I guess all these people used to
23:05
using digital wallets and they can hold dollars and send
23:10
dollars and receive dollars using digital wallets and that
23:15
allows them to transact, right? So like, it's kind of 1 stepping
23:22
stone away from Bitcoin because I think specifically if you live
23:27
in the US, like you've already woken up, like, you know, the
23:32
dollar's a scam. But if you live again in the
23:35
country with, you know, Argentina or like Venezuela,
23:39
like the dollar is significantly better than your local Fiat.
23:42
But again, you don't know about Bitcoin or perhaps Bitcoin's
23:45
volatility might scare you. So it's a stepping stone for
23:49
most of the world. And I think, you know, I think
23:52
it's just accelerating hyper bitcoinization if anything.
23:56
Now, Opti, you were mentioning essentially the Genius Act and
24:02
the significance of that. Again, this was specifically
24:05
stable coin regulation that's basically going to be signed
24:08
into law at this point. It it went over the 60 vote
24:12
threshold in the Senate that it needed.
24:14
Now it just goes back to the House and then, you know, it
24:17
should pass. But essentially the reason that
24:20
that was bullish, even though it didn't directly relate to
24:23
Bitcoin, once again, it creates regulatory certainty and clarity
24:27
for institutions and banks that, hey, you know, the US government
24:32
isn't just going to turn around and try to attack the industry
24:35
like they did under the previous administration, which I can make
24:39
a very strong case for. A part of the reason they lost
24:42
the previous election was because they went against
24:45
digital assets. So yeah, man, I mean, overall
24:49
kind of bullish news in general. We have a bitcoiner in the
24:52
treasury. We have a bitcoiner in the as
24:55
president. We have a bitcoiner as vice
24:57
president. I I was going to pull that up
24:59
during the news segment. OK, All right, let's cover it
25:01
later. Let's cover it later.
25:02
Financial Times, I have a Financial Times article, but
25:04
this is what you guys have to understand.
25:05
Aligned incentives and the Trump family, right?
25:08
They're going to be speaking at Bitcoin 2025 over these next
25:11
three days in Las Vegas. You know, the vice president is
25:15
going to be speaking like you, like everyone wants to pump
25:19
their bags, right? Like, you know, like everyone's
25:21
kind of human, right? So like the president isn't
25:24
going to act against his bag, right?
25:26
I know he's not a pure maxi, whatever this and that, but, you
25:30
know, I think it's positive overall.
25:32
Anyways, guys, we're going to hit the new segment.
25:33
We have tons to talk about. We will be right back in just a
25:35
SEC. I want to give a shout out to
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All right, everybody, let's talk about today's news source, news
27:49
story, a pretty big Financial Times article.
27:52
Not usually a big fan of Financial Times, the Fiat Times
27:56
as I like to call it, but I do want to give a shout out.
27:58
So the people in the live stream 2300 of you guys watching live
28:02
between YouTube and X, of course, shout out to the rumble
28:05
audience. It's always going strong.
28:07
You guys are enjoying today's show.
28:08
Make sure that you smash that like button really, really helps
28:12
with with the algos. Anyways, let's get to it.
28:16
The headline for the audio listeners is Trump Media Group
28:20
plans to raise $3 billion to spend on cryptocurrencies, it
28:25
goes on to say the Trump Media and Technology Group, which is
28:28
behind the Truth Social app and controlled by the president's
28:32
family, aims to raise $2 billion in fresh equity and another 1
28:37
billion via a convertible bond, according to six people briefed.
28:43
Yeah, I'll keep going. Keep going.
28:45
I'll, I'll, I'll, I'll say it later.
28:46
According to six people briefed on the matter, TMT GS capital
28:50
raising could be announced ahead of a big meeting of crypto
28:53
investors and advocates in Las Vegas this week.
28:57
So again, they're referencing the Bitcoin conference, which
28:59
we're in town for, where Vice President JD Vance, Trump's sons
29:03
Donald Junior and Eric, and Trump's Cryptozar David Sachs
29:06
are expected to speak the terms. The timing, the size of TMT, GS
29:11
capital raising could still change.
29:14
Two people familiar with the matter with the plans told the
29:16
Financial Times that the offering had been increased in
29:19
size in recent weeks due to strong demand.
29:22
TMTG said in a statement that apparently the Financial Times
29:26
says dumb writers listening to even Dumber sources, but did not
29:30
comment further. Representatives for Donald Trump
29:33
Junior did not respond for comment.
29:36
A White House spokesperson declined to comment.
29:38
The plan is the latest example of the Trump's family's push
29:42
into cryptocurrency, which has sparked concerns about conflicts
29:45
of interest. The president has vowed to make
29:48
the US the crypto capital of the world.
29:50
His interest in crypto has spurred a wave of deal making
29:54
aimed at seizing on revival in cryptocurrencies.
29:57
The price of Bitcoin rose to a record high of 109,000 last
30:00
week. TMT G's approach is similar to
30:03
that used by strategy previously called MicroStrategy, a former
30:07
software company whose market value has surged to more than
30:09
$100 billion after using debt and equity offerings to buy 10s
30:14
of billions of dollars in Bitcoin.
30:16
The secondary share offering will be carried out on at the
30:20
market terms, meaning shares are expected to be sold near their
30:23
price at the closing of trading on Friday.
30:26
TMTG shares closed Friday at $25.72.
30:31
The Trump's family involvement in crypto has included an NFT
30:35
trading card, 2 meme tokens, 2 meme coins and stakes in crypto
30:40
mining venture American Bitcoin and stablecoin backer World
30:44
Liberty Financial. TMTG also plans to launch an
30:47
executive an an ETF fund focus on cryptocurrency.
30:52
Last week, Trump hosted a private gala dinner for the top
30:56
investors in his meme coin at his resort outside Washington.
31:01
So lots to unpack here, but I Why are you laughing?
31:07
I'm I'm just laughing at the meme coin dinner but the only
31:10
utility for shit coins. So I'm just going to pull up,
31:15
pull up the man himself. Yeah, this is pretty crazy.
31:19
It's pretty crazy. You know, we have a essentially
31:21
a pro Bitcoin present in the White House.
31:24
Obviously, it's incredibly bullish for the price.
31:26
But I don't know, man. Like I'm a little bit jaded
31:29
because we were promised that Bitcoin was going to go to the
31:31
moon and it hasn't hasn't gone to the moon yet, so.
31:36
I mean 100K is used to be the man where.
31:39
Where is the promises? Where I want promises kept, you
31:43
know, to give credit, right? Ross is free and that's good.
31:47
I'm happy about that. You know, we have a pro
31:50
regulatory environment. That's cool.
31:53
You know, you have pro Bitcoin, you know, regulation being
31:57
passed. What's going on?
32:01
He goes a perma bear bro laughing my ass off.
32:05
So I mean overall just bullish stuff, but you know, where's the
32:09
moon bro? I want to go to the moon.
32:12
You guys will see when I'm bullish I when I start getting
32:15
euphoric that's probably. When you should.
32:22
Well, all right, all right, Well, the the first time I
32:25
laughed was because of the convertible bond.
32:28
I don't know about you guys, but I find it hilarious that we
32:30
have, you know, Trump Media Group or the Trump family,
32:33
literally the sitting president right now.
32:35
He's just like, hey, sailor, I see what you're doing and I'm
32:38
going to figure out how to do that myself because we are going
32:42
all in on Bitcoin. You love to see it.
32:45
It just it just goes to show that the Michael Saylor
32:47
strategy, Bitcoin strategy. I have an unpopular opinion.
32:52
Oh go on, let's get into it. I think the Bitcoin treasury
32:55
plays are like the altcoins of this cycle.
32:57
Dude, Niko's lukewarm takes here.
33:01
Yeah, duh. I've been saying that for a
33:03
while. Niko never listens to me.
33:05
I say that forever. And now he's like, I got, I got
33:07
hey, hot off the presses. I got it.
33:09
I got an inside. View here.
33:11
But that that implies that they're going to blow up.
33:14
Yeah, This is why. This is why we tell you guys to
33:17
buy Bitcoin and take it into. Custody spetskies take on this
33:20
like. Find it and then.
33:23
So as I was saying, you know, as we're seeing, there is a race to
33:27
follow what Michael Saylor's been doing and we've been
33:29
covering this for a while that everyone is looking at what
33:32
Sailor's doing and they're trying to figure out a way to
33:34
copy. This article literally said the
33:36
Trump Media Group is going to copy what Sailor's doing because
33:40
he's basically taking free money and stacking the hardest asset,
33:43
the best money in the world, 21 million hard cap and he's 100 X
33:47
his company. The next thing I want to hit on
33:49
Mika before you find that tweet is that whole kind of idea of
33:55
maybe there's a conflict of interest.
33:56
There's actually been an article that I I've been kind of meaning
33:59
to pull up on the show. And of course, you can, you can
34:02
kind of take this bias with where the source is coming from.
34:05
But this has been a growing trend that we're seeing.
34:08
And of course, for the audio listeners, I'm over here on CNN
34:10
and the headline is Trump's crypto conflicts keep piling up
34:13
and he's not even trying to hide them.
34:15
And, you know, whatever side of the aisle you're on, I'm kind of
34:19
OK with him at this point just being like, yeah, I'm in it.
34:22
I am doubling down, though. It is interesting kind of on the
34:25
back end and I know we always say, you know, everyone's it's
34:29
it's aligned incentives here. We have been seeing a new push
34:33
for the insider tradings Congress bill being pushed
34:37
through. So I, I think this does beg the
34:39
question, and I know we're biased.
34:41
We're Bitcoiners. We love to see the Bitcoin
34:43
president, or you could call him the crypto president.
34:45
Go all in Bitcoin, his family go all in Bitcoin.
34:47
It really is one of those defining stamps to show like,
34:50
hey, we're here, we're in the room, we're in DC.
34:53
You can't ignore us anymore. It is kind of Bitcoin industry
34:57
maturing, but is it the same thing Nico as insider trading
35:04
stocks? I mean dude, they're all insider
35:07
trading like I who gives? At least we get win, at least we
35:10
get to win as well. Who gives AF at this point?
35:13
They're all insider trade. I mean, like the stuff that was
35:16
uncovered by Doge and Elon. Like dude, it's all just one big
35:22
effing racket like that. I that's my opinion.
35:25
Like there's so much money that's wasted, you know, there's
35:30
so much money that's squandered. Everyone giving me heat in the
35:34
chat. Nico looks bearish.
35:36
Anyways 2600 of you guys watching live smash that like
35:40
but if you guys are enjoying today's show really really helps
35:43
with the algos. Opti and I are in Las Vegas, NV.
35:47
Wait, wait, Nico, before we move on, pull up that set.
35:50
I'm just giving. Context to where we're at right
35:53
now, it's a change in setting. We're together, we're going to
35:55
be Opti and I are going to be doing the show together moving
35:58
forward. Maybe, maybe we get the whole
36:00
crew. I'll be here for a moment in the
36:01
culture. Big breaking me and Opti.
36:04
No more dude. The remote, it's going away.
36:07
Remote is going away, guys is going away.
36:10
I am moving into Nika's closet next week.
36:13
By the wayside, but yeah, we're in Las Vegas, NV right now for
36:16
the Bitcoin conference we got. We're here at the Simply Bitcoin
36:20
Airbnb we're going to try to pull in.
36:23
Where's Ruston? Pull him in, Well I'll I'll grab
36:25
him at the break but pull up that Zetsky tweak and I couldn't
36:28
find it but what was the TLDR? The TLDR is he agrees like he's
36:33
like, look like, I think the treasury companies are the
36:35
altcoins of this cycle. And, you know, that's what it
36:39
looks like like, you know, like when you hear the phrase, when
36:48
you hear the phrase infinite money glitch, does that sound
36:52
like, you know, sustainable to you?
36:54
That sounds something that's that's real, that's legit.
36:59
No. But that I don't think that
37:01
necessarily means Bitcoin's going to blow up.
37:03
It means Fiat's going to blow. Up.
37:04
It doesn't matter. It always happens.
37:06
Every single cycle there's a catalyst for the cycle to go
37:10
crazy. The cycle.
37:12
By the way, if if this treasury strategy thing keeps working
37:15
out, like this thing's going to go to like Mars, we're not going
37:19
to the moon, we're going to Mars.
37:22
We're go, we're bringing back Pluto.
37:25
Pluto's too far away. We're going to go to Mars 1st
37:28
and then maybe Jupiter. Anyways, guys, we need a great
37:31
show. We're going to hit the culture
37:32
segment. Yeah, we'll, we'll get him in.
37:36
Hold on, I'll get him at the break.
37:37
But I I do want to talk about this Bitcoin treasury stuff and
37:40
the altcoin meme. We got Rustin.
37:43
Because I've been saying this for a minute now and you know,
37:47
it might be unpopular. Hold on, let's let's get a
37:49
minute after we'll get the whole team here.
37:51
We'll get the whole team here. I I've been saying I've been
37:54
saying that that is the case for a minute, because it does really
37:57
feel like that is the case. And you know, without, without
38:01
going into what Nika said of it potentially blowing up, because
38:04
I think if anyone's looking at this honestly and objectively,
38:07
you're like that's it's a non zero chance that some of these
38:10
might blow up. Who?
38:11
I doubt it's Saylor, but one of them will.
38:14
Are they selling paper Bitcoin? I mean, are they even?
38:17
Are they even buying real Bitcoin?
38:18
Is the real? Question.
38:20
I think it's paper. AF.
38:23
It's totally paper. It's totally paper, but I think
38:26
the. Pro if it's paper bro that
38:28
sucks, yeah. That's so, you know, news flash,
38:31
there's 42,000,000 Bitcoin now because they're buying not real
38:36
Bitcoin. No, that's trolling.
38:38
I'm just trolling so one thing though.
38:40
Good take away of this though and I think we are seeing like.
38:45
Why don't they make the reserves public like El Salvador?
38:48
They could totally do that tomorrow, right?
38:50
Like show me the show me the corn.
38:53
Like you're saying you're buying all the you're showing you're
38:56
buying all this Bitcoin. But I'm all I'm seeing is
38:58
magazine articles and stuff. I know, I know.
39:02
Like I know it's audited and whatever but like, I don't know.
39:05
Anyways, guys, wait. Wait wait, wait, I so you keep
39:07
cutting me off. I have one one last point.
39:10
The pro of this and I've been saying this that it's probably a
39:14
semi good thing and I think we have the data to back it up that
39:17
retail is not buying shit coins now because they're buying
39:21
either the ETF or the Bitcoin treasuries.
39:23
So if you happen to watch. The same thing.
39:26
Yeah, I agree. I agree.
39:28
I agree. But if you are watching this
39:29
show and you're bag holding expecting an alt season, you
39:32
should probably dump that as quickly as you can towards
39:35
Bitcoin because they're never coming back.
39:37
If this trend that we're seeing is, you know, a leading
39:41
indicator of, of where we're going, we might be seeing and,
39:45
and I've been one to say like we're never going to see
39:47
gambling go away. And you know, all coins will be
39:49
here forever. But we might be seeing the death
39:52
of shit coins in real time because now they're going into
39:55
the treasuries and the ETFs, which you know, on from our
39:58
perspective are shit coins because it's not real Bitcoin.
40:01
But there, there might be a good thing.
40:03
It might be a good thing. We, we, we have Ruston in the
40:06
house, and he's going to be. Hate the transition.
40:08
Hate the transition? Joining it turn the.
40:10
Culture's like, we'll be right right back.
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today. All right, everybody, we are
42:14
back and we are with the crew, the Simply Bitcoin crew in the
42:17
house. You guys of course recognize
42:19
Ruston, of course you guys recognize Chris.
42:21
And this is Bryson Bryson's behind.
42:23
He's been on the show. He's been on the show.
42:24
This has. Been on the show before.
42:25
Yeah, this is our zoomer, our reigning Twitter zoomer.
42:28
We're all in the house together. But Ruston, I think before we go
42:31
they want a send it so. Oh yeah, I.
42:34
Thought I heard something about a shit coin genocide.
42:40
Yeah, we might have to nuke that that one.
42:43
We might have to nuke that one. Wait, come back here.
42:45
Come back, come back, come back. Let's show why did.
42:47
They all disappear. You scared them.
42:50
No, no, they just want, they just wanted the send it to keep
42:53
it going. So Nico, actually, which one of
42:57
us has the schedule of what we're doing here?
43:00
Yeah, you guys could see us at, at the Bitcoin conferences.
43:04
You guys, if you guys are gonna be there tomorrow, we're gonna
43:06
be in the media segment in the media lounge and we're gonna
43:10
have a little a booth. You guys could, you know, see us
43:12
and say hi and say what's up. And we have, we have merch and
43:17
stuff that you know, will have with us, which is gonna be
43:21
pretty cool. And we're gonna be selling it.
43:23
But get yours while supplies last 'cause it will sell out
43:26
like very, very quickly. And yeah, so get yours wall
43:32
supplies last. It's less than 21.
43:38
Yeah, so get yours simply Bitcoin merch wall supplies last
43:42
I see that we did break 201 like smash that like button.
43:45
Help us break 250 likes by the end of today's show anyways, I'm
43:49
going to pass it around the horn historical Bitcoin conference we
43:54
have the firt like this has never happened before.
43:57
I get it. But technically when Trump spoke
44:01
at Nashville last year, he was a candidate.
44:05
He wasn't a a president. I know he was a previous
44:08
president, but this is the first time you have a vice president
44:13
speaking at a Bitcoin conference, which I think is
44:16
that's never happened before. It's huge.
44:18
Also, you have someone that's part of the cabinet, part of
44:21
Trump's administration, who, who essentially is advising Trump on
44:27
on his policy. You have David Sachs who's going
44:30
to be making a speech as well. And then you have the
44:32
president's sons, right, Donald Trump junior and and Eric Trump
44:37
that are going to be speaking. So I mean, it's not effing
44:41
rocket science here. Like the president of the United
44:44
States wants number to go up. That's pretty effing clear to
44:47
me, Russ. And what are your thoughts bro?
44:51
This is going to be absolutely wicked, and I think unless you
44:55
don't want to be on the receiving end of something, you
44:57
better tell JD thank you whenever you see him walk back.
45:04
I'm I'm also fairly certain that the new Pope will not be on
45:08
site, but we're going to have a hell of a time.
45:13
This is going to be insane. I liked what you were talking
45:16
about earlier. What happened?
45:18
Shit coins are dying. Is it like Bitcoin treasuries
45:21
are the new shit coin? Why does that?
45:24
We got to get rusted off the line.
45:26
Buy your own Bitcoin, stop buying theirs.
45:31
Is it though, Ruston? Are we seeing that happen?
45:33
Is it's happening? It's happening.
45:34
You heard it. Bitcoin treasuries are the new
45:38
shit coins. Let's work it, Chris, Chris,
45:49
historical Bitcoin conference. We got, of course, vice
45:53
president in the in the house. This is crazy.
45:58
We got a, we got a vice president in the House and yeah.
46:02
And we have, you know, White House.
46:03
David. David.
46:04
White House, Crypto and ARA. R David Sacks And you have two
46:09
of two of Trump's sons that are going to be making appearance.
46:13
You know, what are your thoughts?
46:13
It's it's absolutely historical. By the way, at the end of the
46:16
show, we will have a special appearance by Wynakis.
46:20
He's going to be giving a 30 minute presentation on Nax.
46:23
It's going to be incredible. So he's going to be joining us
46:27
here in just a SEC. I know you guys are all
46:28
expecting that. So smash the like button if you
46:31
want Wynakis to make an appearance on the show and
46:35
comment. All caps Wynakis.
46:42
Chris. No, I think it's, I mean just
46:45
look at the timeline in 2023. A lot of the Bitcoin projects or
46:49
a lot of developers in the space are being attacked by the
46:52
previous administration. You know, shouts out to the
46:54
samurai developers. They've been in jail,
46:56
unfortunately over a year, at least their case is ongoing for
46:59
over a year. I think they've been released on
47:01
bail. But yeah, they're still, they're
47:03
still fighting for their lives. In the case in the PDP,
47:05
rights.org is a great way to donate for them.
47:09
Obviously there's a it's a landmark case and it's going to
47:11
be a trickle down effect of basically free and open source
47:13
developers. So if you can support them,
47:15
anything you do, anything you can do as a huge support for
47:18
them. But to Nico's point, it like
47:21
elections have consequences. That's kind of a theme that
47:23
we've been talking about for, you know, six months to a year
47:25
now. And I think that with this new
47:27
administration, we're hoping that we can reverse some of the
47:30
hostile or toxic policies that were enacted in the previous
47:33
administration. You know, I'm not hoping that,
47:36
you know, if we can get them out on good case law is actually
47:39
better because then that sets the precedent and people can't
47:42
overrule that or judges or previous or future
47:45
administrations can't just throw developers in there for no
47:47
reasoning. A pardon would be great.
47:49
But like, like I said, once again, then you have to have
47:51
future pardons in order to get out of situations like this.
47:54
So I'm hoping that our judicial system makes the right call.
47:57
They free the Samurai developers, Obviously the
48:00
Tornado Cash case, obviously the Bitcoin fog cases are three
48:03
monumental cases. So like I said before, P2P
48:06
rights.org is a great way to donate to help them.
48:09
Obviously, they're fighting for these cases.
48:10
And we hope that the the US judicial system has good, good
48:13
case law and that will affect it trickles out to Europe, that'll
48:16
trickle out to the rest of the world.
48:17
So that's what my shouts out to here.
48:20
Great point. Now we're going to get Bryson.
48:22
We're going to, we're going to have Bryson to jump in.
48:24
But before big breaking, we got a comment from Elaine mad at
48:29
wine. He betrayed our memes.
48:32
So. Yes, wine is the real reason the
48:35
meme review died. Just just to let you guys.
48:38
Know wine is responsible. Where?
48:43
Where's Bry? Get Bryson in here.
48:45
Bryson. Bryson.
48:46
Let let let the people know your thoughts, bro.
48:49
And then we'll wrap it up. I'm the king of clip bait.
48:53
Yeah, I can't take that title. Someone else in the media
48:56
industry already has it. But I'm not.
49:01
No. Yeah.
49:02
I mean this entire this. Is this your first conference?
49:06
This is my first. Conference.
49:08
So I'm hoping I don't run into too many feds.
49:14
I'm so it could. Be nice.
49:16
Fed. There's no such thing as a nice
49:18
fed. We can't let zoomers do anything
49:23
without a. Lead This is why we can't have
49:24
nice things but but this adoption is is insane by
49:28
corporations and and treasury companies.
49:30
But I mean it the the signal is getting lost and I think it's
49:33
important to remember that all these corporations need to adopt
49:36
A Bitcoin to survive. But you the individual, the
49:39
sovereign does not need to adopt AA Bitcoin treasury stock to
49:42
survive. It makes little sense for you, a
49:44
hodler, an artist like all of us who can self custody to be
49:48
buying, you know, various various stocks and funding their
49:53
Bitcoin treasury companies when you could be building your own.
49:56
So I I think that'd be just a good note to leave everybody
49:58
with and. Again, as promised, final words
50:02
by Wynakis explaining Nax Wynakis has made an appearance.
50:10
Yeah, Can we, can we zoom in on me?
50:11
Yeah. I don't know how it works.
50:13
Let's get the let's get the viewership up.
50:15
Zoom in, zoom in. I need full screen.
50:20
So is. There a correlation with our
50:22
views going up and me on the mic.
50:23
We're we're about to find. Out.
50:25
Oh no. We're about to find out.
50:27
All right, so one for Winekus. What is a knack?
50:31
A knack is the standard smallest unit of the coin.
50:35
It's 69 sats. So whenever you knock somebody I
50:39
don't know, you're sharing the love.
50:41
OK. Thank you.
50:43
It hasn't caught on yet. Thank you.
50:49
Send us buy shirts. Yeah, go to.
50:52
Give money US money. Give us money.
50:58
Bitcoin Treasury, Smash the like button.
51:00
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51:04
Come back to me. Go to simplybitcoin.com.
51:09
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51:11
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51:13
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51:36
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51:37
We're going to be attempting. We're going to see it's always
51:40
kind of chaotic on set up day, but if everything works out, we
51:44
will be live streaming simply Bitcoin live from the conference
51:48
floor tomorrow, Wednesday, Thursday.
51:51
We've never done that before, so it's going to be a lot of fun.
51:53
We're excited. We have an hour block and shout
51:57
out to our friends over at Rumble at the Rumble Blue booth.
52:00
We're going to be live streaming the show regular Showtime.
52:03
It's going to be a whole lot of fun.
52:04
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52:06
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52:07
Smash the like button, hit the subscribe if you feel like we
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