Latest / Simply Bitcoin / BLACKROCK'S GAME CHANGING BITCOIN REPORT Creates $900T of FOMO? | EP 1195

Transcript

BLACKROCK'S GAME CHANGING BITCOIN REPORT Creates $900T of FOMO? | EP 1195 · Simply Bitcoin

• 0:00
  Yeah, the world's largest asset manager has potentially forced
• 0:04
  the world's $900 trillion worth of wealth to buy some Bitcoin
• 0:09
  with their new portfolio recommendations.
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  I'm not kidding. This is absolutely massive, but
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  not surprising whatsoever. So who am I talking about?
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  BlackRock is now officially recommending buying Bitcoin in
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  their model portfolio. You heard that right, which
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  millions of investors look to as an easy to use guide for asset
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  allocation. But there's a there's a little
• 0:34
  more to this recommendation that meets the eye.
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  BlackRock analysts dropped a report saying that saying what
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  we've all known for quite some time.
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  In fact, maybe they read my tweets if.
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  Every. Millionaire wanted to buy just
• 0:47
  one Bitcoin. They literally physically could
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  not. There's 60 million millionaires
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  all around the world. There's only 21 million Bitcoin
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  if you subtract the three to four that are lost, I mean, you
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  know, number goes up. That's what happens.
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  Anyways, guys, no more delay. Let's jump straight into the
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  into the report. But before we do that, I want to
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  bring up my legendary cohost, cohost who's always optimistic,
• 1:09
  the one and only optimist fields.
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  Let's pull up the Bloomberg article, shall we?
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  And then we'll jump into the report itself from Bloomberg,
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  BlackRock adds it's Bitcoin ETF to Motto portfolio for first
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  time. So a couple thoughts here before
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  we get into the article. We always talk about aligned
• 1:29
  incentives, right? And that's very unique to
• 1:32
  Bitcoin. It's what makes Bitcoin
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  different than everything else, makes it different than Fiat.
• 1:37
  This is why you hear Max Kaiser saying that Sailor is the
• 1:40
  Bitcoin employee of the year or Larry Fink is the Bitcoin
• 1:42
  employee of the year. By them pumping their own bags.
• 1:46
  If you're holding Bitcoin too, your bag is being pumped as
• 1:50
  well, right? And that's the whole Bitcoin
• 1:52
  network, the whole Bitcoin protocol.
• 1:54
  The miners aren't mining Bitcoin out of the goodness of their
• 1:56
  heart. They're mining Bitcoin out of
• 1:58
  the pursuit of profit. People who run nodes, they're
• 2:00
  not doing it out of the goodness of their heart.
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  They're doing it because I don't trust other people's nodes.
• 2:03
  They want to run their own node, right?
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  So it's all about aligned incentives, right?
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  And This is why Bitcoin fundamentally I believe is going
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  to win because the Fiat system is a system based on coercion.
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  It's not based on incentives. BlackRock adds it's Bitcoin ETF
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  to model portfolio for first time The world's biggest asset
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  manager is finally allowing Bitcoin into it's $150 billion
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  model portfolio universe. BlackRock Inc is adding one to
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  2% allocation to the $48 billion Bitcoin ETF and it's target
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  allocation portfolios that allow for alternatives, according to
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  an investment outlook viewed by Bloomberg.
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  While that's a small subset of Blackrock's entire model
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  portfolio business, the addition opens up a potential Ave. of new
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  demand for Ibid at a time when cryptocurrency sentiment is
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  soaring. Model portfolios, when packaged
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  together funds into ready made strategies to sell to financial
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  advisors, have boomed in recent years.
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  Tweaks to their holdings can result in massive flows in
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  either direction. Out of this entire article right
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  there, that line is the signal because essentially, like if
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  you're an if you're a financial advisor and let's say you're not
• 3:19
  offering like a custom asset allocation, you're relying on
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  what BlackRock is doing, right? And BlackRock is basically
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  saying, you know what, Bitcoin is now part of the model
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  portfolio. And if you're a financial
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  advisor, you say, you know what Bitcoin is part of the model
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  portfolio. It is what it is.
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  Now, is BlackRock doing this out of the goodness of their heart?
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  No, of course not. They're doing this to pump their
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  pump their ETF, right And again, the ETF isn't ideal, right.
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  You obviously want spot Bitcoin in self custody, but still I
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  mean Bitcoin exposure is Bitcoin exposure at the end of the day,
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  this is very positive for number go up.
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  This is this is like the biggest breaking news of the week and
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  we've had pretty big breaking news this week.
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  It goes on to say, quote, we believe Bitcoin has long term
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  investment merit and can potentially provide unique and
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  additive sources of diversification to portfolios.
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  It goes on to say Michael Gates, lead portfolio manager for Black
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  Rocks Target Allocation ETF Mono Portfolio Suite, wrote an
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  investment commentary dated February 27th.
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  It goes on to say the move by BlackRock comes as Bitcoin
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  prices crater alongside stocks with a toxic groove, economic
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  concerns, and trade tensions weighing on risk appetite.
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  The cryptocurrency is currently trading around 83,000.
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  Now it's currently at 90,000. The volatility has been
• 4:39
  absolutely wild in the last couple months to say the least.
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  And it goes on to say, of course, you know, we, we know
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  this, the Bitcoin ETFs have been, have been literally the
• 4:49
  most successful ETF launches in history.
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  Despite the dragging of the feet by Gary Genzer and the SEC, all
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  the terrible behavior, the Bitcoin ETF still absolutely
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  crushed it. So moving on to the actual kind
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  of presentation itself from BlackRock, from the BlackRock
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  website, it's titled Why Bitcoin?
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  A perspective from model portfolio builders.
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  I'm going to put the link in the live chat so you guys can check
• 5:18
  it out if you want. The key takeaways are as multi
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  asset portfolio constructor constructors.
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  We believe Bitcoin has long term investment merit for certain
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  investors and could potentially provide unique and additive
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  sources of diversification to portfolios.
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  And in the era of increased geopolitical instability,
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  ballooning sovereign deficits and excessive government
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  spending, we expect the store of value narrative will continue to
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  resonate with more investors and potentially supercharged by
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  boomer to millennial demographic tailwinds.
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  A more Bitcoin friendly administration could ease
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  regulatory bottlenecks, potentially unlocking a wave of
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  pent up innovation and infrastructural development.
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  So it goes on to say why now a. The launching of the Bitcoin
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  ETFs in 2024 marked A Seminole event in financial markets
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  history. We've been telling you guys that
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  for a long time. The ability to seek directional
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  exposure to physical Bitcoin inside the ETF wrapper eases a
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  variety of crypto asset operational frictions and
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  unlocks a broader eligible pool of potential investors.
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  The dramatic inflows into Bitcoin ETF seem to validate the
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  the idea that the next wave of interest in Bitcoin has begun.
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  So this is something that I mean, we showed you guys this is
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  ridiculous, you know, and it's showing you guys like from
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  January 2024 to December of 2024.
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  It's basically like a straight line up.
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  It also what's really interesting too.
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  And depending on the way that you look at it, it also kind of
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  correlated with the Bitcoin price as well, right?
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  Which depending on you look at it, right?
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  Like I'm class of 2016, I'm before this whole institutional
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  stuff. Now you can make an argument
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  that Bitcoin is, you know, it's, it's growing up, it's, it's gone
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  into its next phases of its history.
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  It's got into the institutional era, it's got into the nation
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  state adoption era. It's definitely different.
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  It's not the Bitcoin. You know that it was when it was
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  at a much smaller market cap, right?
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  It goes on to say wider investor base, historically lower
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  volatility. Many investment professionals
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  have cited the high volatility in the price of Bitcoin over the
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  years as a indictment of its status as an asset class that
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  merits consideration for investments.
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  But a general maximum financial markets is increased levels of
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  investor participation could lead to improvements in price
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  discovery and liquidity and as a consequence grace create more
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  price stability. We have seen similar
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  developments in the past when previously isolated assets
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  became unlocked and available to a broader, more
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  institutionalized investor base. Should we reasonably expect
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  Bitcoin to follow a similar pattern of price behavior and it
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  just continues to talk about its price swings?
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  I mean bitcoins still volatile as hell.
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  Like we were at 108 Ki. Think we topped out the day of
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  the inauguration. We went down to 78 K.
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  Now we're back at 90K. You know, Bitcoin, perhaps it's
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  not like 2021 era or 20/16/2017 era where you have these 3040%
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  draw downs, but the volatility swings are there, right?
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  Like they're there that that hasn't left.
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  And remember what Michael Saylor always says, volatility is life.
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  You want volatility because without volatility, forget about
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  getting a a two or three or 4X or potentially a 5X return in
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  one year. Without volatility to downside,
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  you won't get utility to the upside.
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  So I see it as a pro, not a con, a feature, not a bug.
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  And I don't think that's going to last forever, by the way,
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  because I think that once Bitcoin reaches, you know,
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  enormous market caps when one, when the price of Bitcoin is at
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  $1,000,000 per coin, I, I don't think you're going to see, you
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  know, I, I, I don't think you're going to see the type of
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  potential upside that you see with it now.
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  I mean, and we saw that too, like with when Bitcoin hit 100
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  Ki, Remember Me and Opti were having an episode and I was
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  telling you guys like, like, you know, 11, A 1% move at 100K is
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  1000 is, is $1000 A when Bitcoin was at 10,000, A 1000% move was
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  10%, right? So like, you can just kind of
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  see like the bigger it gets, right?
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  The the numbers will you know the number that the, the
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  movement is the same, but the percentage isn't right.
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  So anyways, one of the things that I wanted to highlight here
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  and Opti was talking about this earlier, is to illustrate how
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  few available bitcoins there are if every millionaire in the US,
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  just in the US, by the way, I don't know what the number of
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  millionaires in the USI know worldwide it's like 60 million,
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  but I don't know what the exact number of millionaires are in
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  the US, But I know obviously it has the world's lion share of,
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  of the wealth. The United States, a very
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  wealthy country, but anyways, it goes on to say to illustrate how
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  few available bitcoins there are, if every millionaire in the
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  US asked their financial advisor to get them one Bitcoin, there
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  wouldn't be enough that that, that is insanity.
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  That is insanity. That's why like when when
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  British huddle or like American huddle, because I know American
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  huddle changed his target. It used to be 6.16 point 15, Now
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  it's like 1. But you know, when, when these
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  guys are telling you just to reach one Bitcoin, like I think
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  people underestimate how out of reach that is going to be for
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  the vast majority of people. We had Rajat on the show
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  yesterday. Highly recommend the episode.
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  At the end, we just focus on how much Bitcoin you need to retire.
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  And it was crazy because in some of the countries he was
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  basically making the argument that like, look, in 10 years
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  you'll need like .06 or like .1. Like, it's, it's such like a
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  ridiculously low amount. This is what people have to
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  understand. There has never been an asset in
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  the history of the world that has had absolute scarcity has
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  never existed, right? Gold is scarce.
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  But if the price of gold goes up, the production of gold will
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  go up with it. If the price of Bitcoin goes up,
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  the production of Bitcoin, not only does it stay the same, it
• 11:29
  gets cut in half every four years no matter what, right?
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  So you have a perfect storm. This is why this thing's going
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  up forever. This is why it's a black hole.
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  This is why Michael Saylor, No Shame goes on legacy media and
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  says it's going up forever, Laura, right?
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  Like This is why, right? But what's really crazy is it's
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  not just Bitcoiners or Michael Saylor saying this like you have
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  the world's largest asset manager coming to this
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  conclusion themselves, right? And remember, we all start at
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  the same place. Let me just dip my toes in.
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  Let me just get a little bit of Bitcoin.
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  And then before you know it, within six months, you're like
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  100% allocated, right? Because you realize like, no,
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  it's 'cause. The price goes up, Nico.
• 12:12
  No, no. No, the price goes up too.
• 12:14
  But like, I mean, the, the episode with Rajat was very eye
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  opening because like it was like he, this is someone who came
• 12:20
  from like, you know, a traditional background and he's
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  like straight up told us on yesterday's episode.
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  He's like Nico, like, you know, like it it.
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  I'm 100% allocated a Bitcoin like real estate is, is an
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  altcoin. Stocks are an altcoin.
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  Like everything is an altcoin. People don't understand like,
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  you know, it's obvious. It's it's obvious.
• 12:43
  Once you understand, you understand.
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  So the conclusion of you know, this report says credits critics
• 12:50
  go to refrain go to refrain is Bitcoin has no intrinsic value
• 12:55
  to the contrary, in our view, the disgust embedded
• 12:58
  characteristics represent fundamentally real and
• 13:01
  attractive sources of intrinsic value, which we expect will be
• 13:05
  recognized by more people and more places over time,
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  particularly in a debt ribbon debt laden digital 1st and
• 13:14
  increasingly AI entrenched world.
• 13:17
  And that last paragraph was written by BlackRock that was
• 13:22
  not written by simply Bitcoin. So yeah, numbers definitely
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  going to go up. Despite all the volatility of
• 13:28
  2025, despite, you know, us being at 89 K right now, 90 Ki
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  still think that 2025 is going to be explosive.
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  I think it's going to be an amazing year.
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  I think I'm so looking forward to the Friday, Friday White
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  House Crypto summit that's going to be hosted by the President
• 13:51
  Donald Trump. Michael Saylor said he got
• 13:54
  invited. And there is a piece of news
• 13:58
  that was dropped today, which we're going to cover during the
• 14:01
  news segment of the Secretary of Commerce, Howard Lupnik, who is
• 14:06
  the CEO and chairman of Counter Fitzgerald.
• 14:08
  Counter Fitzgerald manages all the money for Tether and he
• 14:12
  basically said that Bitcoin was going to have a special place in
• 14:16
  the reserve that was going to differentiate it from the alt
• 14:19
  coins. Maybe that came from all the
• 14:21
  push back from the community. I mean, you had the CEO of
• 14:24
  Gemini, the you know, the the Winklevi twins.
• 14:28
  You had the CEO of Coinbase even say like guys like the strategic
• 14:33
  reserve should probably be only Bitcoin, like putting anything
• 14:37
  other than Bitcoin in this is probably a bad idea.
• 14:39
  So I think, you know, obviously there is a tremendous amount of
• 14:42
  push back, you know, when Cardano and XRP were announced,
• 14:46
  right, that they're going to be in this strategic reserve, which
• 14:49
  was quite interesting. So yeah, like despite the price
• 14:53
  action, guys, I think it's important to zoom out and I
• 14:56
  think it's important to keep a perspective.
• 14:59
  And I also think it's important to have low time preference,
• 15:02
  focus on Fiat mining, focus on your work for focus on building
• 15:06
  your income. So you could put that income
• 15:08
  into Bitcoin and then use Bitcoin as a savings technology
• 15:12
  because the future looks bright. Like when they're dropping these
• 15:15
  types of reports, guys, like when, when BlackRock, right, is
• 15:19
  putting so much, putting such a large bet behind Bitcoin as an
• 15:24
  asset class. Like we're going places when the
• 15:27
  president of the United States is hosting, you know, a summit
• 15:30
  at the White House regarding the the asset class, we're going
• 15:34
  places. So it's just a matter of time.
• 15:37
  I personally believe 2025 is going to be absolutely
• 15:39
  explosive. So really, really looking
• 15:41
  forward to that. So that's what we're going to
• 15:43
  talk about in the beginning of the show.
• 15:44
  I'm going to before I get off these comments, I do want to
• 15:46
  thank everyone in the audience. We're about to break 2000 live
• 15:48
  viewers across all platforms. If you guys are enjoying the
• 15:50
  show, make sure to smash that like button.
• 15:53
  Help us break 200 likes within the 1st 30 minutes of the show.
• 15:57
  And we have a jam packed show for you guys because we're going
• 16:00
  to be talking about Howard Lepnick's statement regarding
• 16:03
  the the strategic, the strategic reserve.
• 16:07
  And also we have an update for you guys regarding El Salvador.
• 16:11
  Now, I, I don't know why I was able to, to see this, but what
• 16:16
  Naimbu Kelly did yesterday was so incredibly bold and brave and
• 16:21
  I applaud him. He stood up to the IMF and he
• 16:25
  said, no, El Salvador is going to continue buying Bitcoin
• 16:31
  despite the IMF explicitly forbading it.
• 16:36
  We're watching politics play out in real time on social media.
• 16:41
  No one knows what happens next. This is completely uncharted
• 16:46
  territory. But you have a country, a small
• 16:50
  country in Central America claiming their sovereignty,
• 16:54
  saying you don't push us around. And there's it's a David birth
• 16:57
  Goliath. They're they're standing up to
• 16:59
  the IMF and they're saying, no, you don't get to tell me what to
• 17:02
  do. So is that going to compromise
• 17:06
  the loan deal? I don't know.
• 17:08
  We'll see. But between the initial
• 17:11
  announcement of Naimbu Kelly posting the memes about stacking
• 17:14
  the dip and the announcement that the El Salvador was going
• 17:18
  to continue buying Bitcoin, there was a 15 hour, no
• 17:23
  communication Dead Space. So Stacy Herbert from the
• 17:29
  Bitcoin office, she didn't say anything.
• 17:31
  Naimbu Kelly didn't say anything.
• 17:33
  Clearly, they talked a lot about it in the background.
• 17:37
  And El Salvador, I told you guys this on yesterday's show, which
• 17:39
  was about this topic. I said El Salvador right now is
• 17:42
  at a fork in the road and they're going to have to decide
• 17:45
  whether they value their country's sovereignty.
• 17:48
  And Naimbu Kelly had the moral courage to stand up and do what
• 17:53
  was right. So kudos to him.
• 17:55
  Simply, Bitcoin backs El Salvador.
• 17:57
  I am Boo Kelly 100%. We're in uncharted territory.
• 18:02
  Let's see how this plays out and we'll definitely cover it the
• 18:05
  more news comes out. Make no mistake, ladies and
• 18:07
  gentlemen, the IMF will respond. I don't know what that response
• 18:11
  will be, but we'll be here to cover it anyways, Opti.
• 18:15
  I mean, this is pretty crazy, bro.
• 18:17
  BlackRock is saying Bitcoin should be part of the model
• 18:21
  portfolio, basically saying if you don't have Bitcoin, you're
• 18:24
  going to have fun staying poor. That is Larry Fink's way of
• 18:27
  saying that. Opti, what's your take?
• 18:29
  Yeah, 100%. And I think that's kind of the
• 18:31
  big signal here. You know, as the saying always
• 18:33
  goes, don't listen to what they say, watch what they do.
• 18:37
  Even though they did drop like, guys, I highly recommend you go
• 18:39
  read this whole article here. It's not going to tell you
• 18:43
  anything that you don't already know if you're a Bitcoiner, but
• 18:46
  it really does sound like a Bitcoin Maxi wrote this.
• 18:49
  And I think I find that kind of incredible.
• 18:51
  It sounds like a lot of the things Bitcoiners have been
• 18:53
  saying for a long time, but now it's coming from BlackRock.
• 18:56
  And I know I'm not, I'm trying not to fall into like the
• 18:59
  authority paradox here, but it does seem to have a little more
• 19:04
  weight when it comes from on black BlackRock instead of, you
• 19:07
  know, two guys in hoodies on YouTube.
• 19:09
  And if you read it, it says everything we've been saying
• 19:12
  about Bitcoin. It's written really well.
• 19:14
  But there is a few portions here that I do want to highlight.
• 19:17
  Obviously, as we're talking about this model portfolio that
• 19:21
  the BlackRock is allocating 1 to 2% to as of now, of course,
• 19:24
  their own product, the Bitcoin ETF.
• 19:26
  But I think that signal in and of itself just goes to show for
• 19:30
  everyone out there that is either managing their own
• 19:33
  portfolio or an institutional manager that at minimum you need
• 19:37
  to have one to 2% allocated to Bitcoin, preferably spot
• 19:41
  Bitcoin, but at the very least one to 2% in Bitcoin ETFs.
• 19:45
  And I think now as we're starting to kind of grow up and
• 19:48
  mature as an industry, as an asset class, as you know,
• 19:52
  monetary network, people are starting to wake up to the fact
• 19:55
  that you need to own a little bit of Bitcoin.
• 19:57
  And we've been saying this forever on the show.
• 19:59
  Like personally, I would say you need to own more than one to 2%.
• 20:02
  But I understand a lot of people that are traditionally, I guess
• 20:06
  would say maybe more conservative, more risk averse,
• 20:09
  maybe 1 to 2% is just the perfect allocation for them.
• 20:12
  And then also, one interesting aspect of the article is that
• 20:16
  Boomer to millennial. You know, convergence or
• 20:20
  transformation and tailwinds that it talked about.
• 20:23
  And that's kind of what we've been saying for a long time.
• 20:26
  I know I, I, I kind of get some shit sometimes in the chat
• 20:29
  because I'm very strong worded when it comes to boomers.
• 20:33
  And they're like, not all boomers are bad.
• 20:35
  Yeah, I get it, bro. I, I understand.
• 20:37
  But hey, it's my job to be a little bit hyperbolic.
• 20:39
  But as you're seeing the boomer classes, you know, they're
• 20:42
  getting older and now us millennials and of course Gen.
• 20:45
  Xers as well, We are the ones that are going to be, you know,
• 20:49
  taking up the bulk of the wealth coming up, whether that's you
• 20:52
  inheriting wealth or whether that's you as a millennial, you
• 20:55
  know, a middle-aged adult acquiring wealth.
• 20:59
  You're starting to see that the demographics are shifting from
• 21:02
  the boomer class down to the millennial class.
• 21:05
  And a lot of us young people are like, man, why am I going to own
• 21:08
  treasuries or stocks and bond or even real estate when I can just
• 21:13
  pile all of my net worth and all of my wealth and all of my
• 21:16
  productivity into Bitcoin? And so I I find it very
• 21:19
  interesting that BlackRock is actually acknowledging this and
• 21:22
  not just kind of relegating it is like, oh, these kids don't
• 21:25
  know what the hell they're talking about.
• 21:27
  Like they're seeing the writing on the wall and they realize the
• 21:29
  demographics, the the perspective on things are
• 21:32
  changing and they're adapting to that.
• 21:34
  So I find that very interesting. And of course, if that without 1
• 21:37
  portion at the very end that Nico was kind of highlighting
• 21:41
  that millionaire part as bit corners.
• 21:44
  We all know this. But if you read above that a
• 21:46
  little bit, you know, I think institutional managers are
• 21:50
  traditional finance, they're starting to kind of realize what
• 21:53
  true digital scarcity actually means.
• 21:56
  And once that clicks for you, that's when that Bitcoin FOMO
• 22:00
  starts to kick in and you're like, Oh my goodness, I need to
• 22:03
  acquire my piece of this digital landscape or what's a digital
• 22:06
  cyberspace or whatever sailors been saying forever.
• 22:09
  And that's what's going on now they're starting to realize,
• 22:12
  hey, look, obviously they want their I Bitcoin ETF to perform
• 22:16
  well. But I think that on the back
• 22:19
  end, they are also scrambling to try to acquire as much Bitcoin
• 22:22
  as possible. Or at the very least kind of
• 22:25
  signaling to everyone else that, hey, this is the next game on
• 22:28
  the block. You need to acquire as much
• 22:30
  Bitcoin as possible, or at the very least acquire a little bit
• 22:33
  of Bitcoin. You need a little bit of Bitcoin
• 22:34
  in your portfolio. And so I, I think this is a
• 22:37
  very, a very different dynamic that we've seen in, in the
• 22:40
  history of Bitcoin. Obviously, as a lot of people
• 22:43
  like to mention all the time, you know, I kind of hate to come
• 22:47
  on the show all the time and like root for institutions and
• 22:50
  nation states, but this is where we are right now.
• 22:52
  We know that they're trying to play hungry Hippo with Bitcoin.
• 22:55
  And with that, that means that the Bitcoin you're holding today
• 22:58
  is going to increase in purchasing power.
• 23:00
  So obviously the fundamentals of Bitcoin remain the same.
• 23:04
  Buy Bitcoin or work for Bitcoin, take it into cold storage, run a
• 23:08
  node, etcetera, etcetera, etcetera.
• 23:10
  We repeat this all the time. Now, do we think Blackrock's
• 23:13
  necessarily doing all that? Probably not.
• 23:15
  They want exposure, but more people are waking up to the
• 23:17
  fact, hey, I got to own some Bitcoin.
• 23:19
  So I'm with Nico. 2025 is going to be a great year.
• 23:23
  I was actually looking at the chart this morning.
• 23:24
  I know you guys yell at me because I I always said don't
• 23:26
  look at the Bitcoin chart, but I don't.
• 23:28
  Always look at the chart. I know.
• 23:30
  I know but I think you are Aegis Opti lol but I think you know 3
• 23:36
  green one red still in play. I think 2025 is going to be a
• 23:40
  green yearly candle and we're going to look back at this time
• 23:44
  frame in the beginning of the year and be like man that week
• 23:46
  was fun. Remember when we all thought it
• 23:48
  was over? Is 2017 vibes?
• 23:50
  I'm getting 2017 vibes. This is what 2025 reminds me of.
• 23:53
  It reminds me of early 2017. No one thought we were going to
• 23:57
  reach A20K by the end of the year.
• 23:59
  The end of the year was gnarly. It was so crazy, but the
• 24:03
  beginning of the year was quiet It was it was pretty calm right
• 24:06
  and then the price started going absolutely bananas anyways.
• 24:09
  I do want to give a shout out to the live stream almost 700 live
• 24:12
  viewers on YouTube. We're only 142 likes help us
• 24:16
  break 200 likes within the 1st 30 minutes of the show so
• 24:18
  YouTube smash that like button wow 400 live viewers on rumble
• 24:23
  everybody on rumble smash that like button and of course on X
• 24:27
  1700 live viewers. So if you guys are enjoying the
• 24:30
  show so far, make sure to smash that like button guys, We have a
• 24:35
  loaded show for you guys. We have so much to talk about.
• 24:38
  We have the update regarding Naimbu Kelly, what what's
• 24:41
  happening in El Salvador with the IMF And of course, we're
• 24:45
  going to be talking about Howard Lepnick and his comments
• 24:49
  regarding the strategic Bitcoin reserve Bitcoin.
• 24:51
  Remember, Howard Lepnick holds a lot of weight.
• 24:53
  He is the secretary of commerce. So you know what he says it's,
• 24:58
  it's not just an opinion, right. So we're going to be talking
• 25:00
  about that and also interesting news, right?
• 25:04
  Interesting news. the US Marshall service say they can't
• 25:08
  find how much crypto it holds, complicating Bitcoin reserve
• 25:12
  plan. How convenient, right?
• 25:15
  How convenient is that? Remember all that Bitcoin that
• 25:18
  was being moved around? We we were speculating.
• 25:21
  Did they sell it? Did the Biden administration
• 25:23
  sell it before the Trump administration was coming into
• 25:26
  office? I mean I don't know I don't know
• 25:29
  a lot of shitty things did happen with operation choke .2
• 25:31
  point O anyways guys, it's going to be a great show Smash that
• 25:34
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  At the time of recording the Bitcoin prices $89,580 Block
• 29:17
  height 886,443 SAT's per dollar 1116 market cap 1.78 trillion
• 29:26
  Bitcoin versus gold market cap 8.7% percentage issued 94.44%
• 29:32
  decline from all time high -17.9% realized monetary
• 29:37
  inflation continues to go down. Opti look at that .95%.
• 29:42
  Anyways, update for you guys regarding El Salvador and their
• 29:46
  fight for their sovereignty because make no mistake, this is
• 29:49
  a fight for their national sovereignty.
• 29:53
  An international organization that is not represented by the
• 29:57
  people of El Salvador is telling El Salvador what they can and
• 30:01
  what they cannot do with their money.
• 30:03
  Doesn't that sound familiar? Doesn't that sound familiar?
• 30:06
  It's almost like we've been here before.
• 30:08
  So let's take you through the timeline of events.
• 30:12
  And I think it's really important to kind of zoom out
• 30:15
  just to kind of see it. So this was March 3rd, and this
• 30:19
  was Naimbu Kelly's response 21 hours later after this post.
• 30:23
  The official time lapse between the two posts was 15 hours, so
• 30:28
  you can tell that there was a lot of discussions happening in
• 30:31
  the room. I told you guys on yesterday's
• 30:33
  episode, El Salvador was at a fork in the road.
• 30:37
  What were they going to do? Naeem Bukele responded boldly
• 30:43
  and with courage. He says, quote, this all stops
• 30:47
  in April. This all stops in June, This all
• 30:50
  stops in December. No, it's not stopping.
• 30:53
  If it didn't stop when the world ostracized us and most
• 30:57
  Bitcoiners abandoned us, it won't stop now and it won't stop
• 31:02
  into the future. Proof of work over proof of
• 31:06
  whining here is Saifuddin. He says El Salvador continues to
• 31:10
  formulate a comprehensive strategy for reducing risks
• 31:13
  associated with exposure to the dollar.
• 31:16
  Michael Saylor responded to Naimbukele, and he said Bitcoin
• 31:20
  adoption is unstoppable. Peter McCormack responds nothing
• 31:24
  stops this train. Paolo, the CEO of Tether, says
• 31:29
  some bitcoiners simply act like armchair heads of state.
• 31:32
  What El Salvador has achieved thanks to President Buchele is
• 31:36
  truly incredible and will be narrated in the history books.
• 31:41
  I had a very similar sentiment when I saw this absolutely
• 31:45
  historic news. We are watching politics play
• 31:49
  out on the world stage right in front of your eyes because of
• 31:53
  the Internet, because of social media.
• 31:55
  Do you guys remember the conversation between Trump and
• 31:59
  President Zelensky? Normally those types of
• 32:01
  conversation would have happened behind closed doors, but because
• 32:04
  of the Internet, everyone gets to see it.
• 32:07
  And what you're seeing here, ladies and gentlemen, make no
• 32:10
  mistake, it's no coincidence. This is the and, and I like a
• 32:15
  lot of the responses that Naimbu Kelly got in his in his post was
• 32:18
  like President Mukelly, like, with all due respect, like,
• 32:21
  could you please describe, you know how you're going to do
• 32:24
  that? Because in the deal with the
• 32:26
  IMF, it specifically says that El Salvador has forbade from
• 32:30
  buying Bitcoin. This is the art of the deal.
• 32:33
  They're they're, this is negotiation.
• 32:35
  This is politics, right? The IMF is going to respond,
• 32:38
  make no mistake, because El Salvador basically just stood up
• 32:42
  to the, to the Goliath that is the IMF and said, you know,
• 32:45
  we're, we're not going along with your games, right?
• 32:48
  So, you know, obviously it's a, it's a David versus Goliath
• 32:52
  story. You know, Salvador is a very
• 32:54
  small country. It's a developing country.
• 32:56
  The IMF is an extremely powerful organization.
• 33:00
  I don't know how it's going to end.
• 33:02
  This is just happening in real time.
• 33:04
  But I will say like this is uncharted territory.
• 33:07
  This has never happened before. And I'm 100, I'm 1,000,000%
• 33:13
  behind President Buchele and El Salvador and the people of El
• 33:17
  Salvador. What what he's doing is
• 33:19
  extremely brave. Guys.
• 33:21
  You just look at look at there's this very famous book called
• 33:26
  Confessions of the economic of of an economic hitman, right?
• 33:29
  The IMF is not this like, you know, it.
• 33:32
  It's not just an like a like this bank that, you know,
• 33:36
  doesn't do anything. They've done some very shady
• 33:39
  things in the past in order to retain power and control over
• 33:44
  countries, right? And Naimbu Kele basically said,
• 33:47
  no, not on my watch. That's what he said.
• 33:49
  And he said it's for on for the world to see.
• 33:52
  So we are. This is uncharted territory.
• 33:56
  The president has made his position extremely clear.
• 34:01
  There is nothing left to interpretation now.
• 34:04
  We're just waiting to see what the IMF is going to respond.
• 34:07
  It's as simple as that. And they will respond.
• 34:09
  Make no mistake, he would not say that if he didn't mean it.
• 34:15
  El Salvador has every, you know, that has every intention to
• 34:20
  continue to buy Bitcoin. And again, what I told you guys
• 34:23
  yesterday and I'll tell you guys today, the signal here and what
• 34:28
  should tell you how fearful they are of Bitcoin and how much
• 34:32
  Bitcoin is winning is the fact that that the IMF is willing to
• 34:37
  risk it's reputation and willing to expose themselves to
• 34:43
  basically attempt to block a country from buying Bitcoin.
• 34:49
  That should tell you everything that you need to know.
• 34:54
  We are winning. Make no mistake.
• 34:57
  We should stand by El Salvador back El Salvador.
• 35:01
  Let's see what happens. Opti, what's your take?
• 35:06
  Yeah. So obviously, I love this
• 35:09
  response. Yesterday when we kind of cover
• 35:12
  this news, we didn't get any, you know, any PR coming from the
• 35:17
  El Salvador camp. So we were just responding to
• 35:19
  the news coming out of that 111 page report coming out from the
• 35:22
  IMF and it was looking kind of bleak.
• 35:25
  Now this response is just absolute Chad Alpha response
• 35:28
  from Boo Kelly. Very interesting in that tweet
• 35:31
  where he says, you know, we didn't stop in the past.
• 35:33
  We're not going to stop in June. We're not going to stop in in
• 35:36
  December. We're going to keep buying.
• 35:37
  And if you read that report that some of the like specific dates
• 35:41
  that the IMF was saying that they need to stop buying
• 35:44
  Bitcoin, they got to roll, roll down some of their Bitcoin
• 35:46
  funds. I'm pretty sure the June date
• 35:49
  was they got to end their Fidelity Bitcoin or feeded
• 35:52
  Bitcoin fund, I forget what it's called.
• 35:54
  And I'm pretty sure by December they were supposed to stop all
• 35:58
  Bitcoin buys by the country. And this response by Buckele is
• 36:02
  obviously, as Nico was saying, very Admiral response.
• 36:06
  Of course, as we've been talking about for a while, they're still
• 36:09
  Bitcoin country. It did seem like yesterday was
• 36:11
  completely over. The one thing that is kind of
• 36:14
  interesting though is going to be what the IMF response will
• 36:18
  be. Does this mean that El Salvador
• 36:21
  you know, like it's just kind of interesting when you think about
• 36:23
  like the contract, if those were the contract terms, does that
• 36:27
  mean that this $1.4 billion IMF loan to El Salvador is not going
• 36:31
  to go through is El Naive, but Kelly and El Salvador basically
• 36:35
  like taking the money and running like how we don't know
• 36:38
  how this is going to play out, but of course we do love this
• 36:42
  response here. And I guess from now it's only,
• 36:45
  you know, only time will tell to see what the IMF response will
• 36:48
  be, what El Salvador's response will be.
• 36:50
  And then these deadlines or rather these markers in time,
• 36:54
  June and December, it's going to be very interesting to see that
• 36:57
  they continue to stack Bitcoin. And also, as we've been saying
• 37:00
  for a while, we're actually really been covering on the show
• 37:03
  that every time we got a, and new IMF news, we also saw a new
• 37:08
  smash buy by El Salvador. I think yesterday they bought
• 37:10
  like 5 Bitcoin and added it to, you know, their public holdings.
• 37:14
  So obviously a super Chad move by Naibu Kelly.
• 37:18
  Love to see. And I really do like Paolo's.
• 37:21
  I know, shocking. I'm, I'm agreeing with Paolo and
• 37:23
  he's, you know, the creator of tether.
• 37:25
  I I, I kind of agree with that because like, I, I feel like I
• 37:28
  was, I, I feel attacked on the tweet because we were kind of
• 37:31
  talking about it. No, actually Nico, pull up.
• 37:34
  I think Stacy did a pretty good response and she said something
• 37:37
  kind of similar. Maybe we pull that out.
• 37:39
  But it is interesting that we get this report and then, you
• 37:45
  know, they probably had to do some PR here and then they came
• 37:48
  out and they're like, no, fuck it.
• 37:49
  Like we're going to keep buying Bitcoin.
• 37:51
  We're not stopping. This is great.
• 37:53
  So there we go. There we go.
• 37:54
  That top one, that top one, Nico, she pinned it.
• 37:57
  Some Bitcoiners trust the words of the IMF over the stacking
• 38:00
  actions of El Salvador recorded for eternity on the Bitcoin
• 38:04
  blockchain. So yeah, hey, as we've been
• 38:07
  saying for a long time, you know, words mean nothing and
• 38:09
  actions mean everything. And if they're going to continue
• 38:12
  to double down on Bitcoin, it is going to be very interesting to
• 38:15
  see what happens with this loan, what the responses will be, you
• 38:20
  know, what the what the attacks might come from whoever you
• 38:25
  know. So it's going to be very
• 38:26
  interesting to see. But this is obviously a great, a
• 38:29
  great response. This is a very like Bitcoin
• 38:31
  response here. So, you know, shouts out to
• 38:33
  Naibo Calais and shouts out to El Salvador like this is a Chad
• 38:37
  move, especially when you consider just how tiny El
• 38:39
  Salvador is. And and like you said, David,
• 38:41
  Ruth, Goliath, this is a tidy country standing up to one of
• 38:44
  the biggest institutions, or rather, you know, literally,
• 38:48
  literally the economic mafia out here.
• 38:50
  So shouts out to El Salvador, Naivu Kelly.
• 38:53
  And you know, stay safe. May God protect you. 100%, this
• 38:58
  was a very, very bold move by the Bitcoin president.
• 39:03
  Make no mistake, ladies and gentlemen, you're watching
• 39:05
  diplomacy happening in real time on social media.
• 39:10
  This was a very well thought out response.
• 39:13
  It was a response of strength. It came from a position of
• 39:17
  strength. Naimbu Kayle was basically
• 39:19
  saying, guys, you know what? El Salvador is a sovereign
• 39:23
  country. We are not stopping.
• 39:25
  You guys are doubting me. Of course he has has to frame it
• 39:28
  that way. He has to structure the
• 39:30
  statement that way. But that statement wasn't for
• 39:33
  the Bitcoin community. That statement was for the
• 39:35
  world. That statement was saying,
• 39:37
  listen, El Salvador gets to determine what they want to do
• 39:41
  with their finances, not the IMF.
• 39:44
  Let's see how the IMF responds, but kudos to El Salvador.
• 39:48
  I told you guys yesterday that they were at a fork in the road.
• 39:51
  This was an extremely bold move by the Bitcoin president and you
• 39:57
  can clearly tell that he put a lot of thought into it before
• 40:00
  responding back. So we're in a completely
• 40:03
  uncharted territory. We'll give you guys an update as
• 40:06
  soon as we have one, but this is extremely exciting.
• 40:09
  I mean, this is the separation of money and state, baby.
• 40:11
  What else did you expect? Anyways, guys, it's been an
• 40:14
  amazing show. We have so much to cover.
• 40:15
  Today we have an update regarding the.
• 40:20
  The strategic Bitcoin reserve. Apparently, US Marshals have
• 40:24
  lost Bitcoin. They don't know where it is.
• 40:26
  And Opti has something very interesting to cover during the
• 40:29
  culture segment. Why don't you hint it, yeah?
• 40:32
  So there's been a lot of talk about eggs recently, and we're
• 40:36
  not really going to go into the egg prices so much in Fiat
• 40:39
  terms, but I'm going to pull out one of my handy dandy favorite
• 40:42
  charts coming out of the Fed. And you know, it might surprise
• 40:46
  you if you don't understand how Bitcoin works, but hey, life is
• 40:49
  cheaper on on Bitcoin. You, you just love to see it.
• 40:52
  So yeah, I, I got some cool headlines.
• 40:55
  I got to get charred. You know, we're, we're going to
• 40:57
  be just talk about how your life gets cheaper on Bitcoin even
• 41:00
  with eggs, even though the the media is freaking out about
• 41:03
  eggs, their life still gets cheaper on the Bitcoin standard.
• 41:07
  Absolutely. Also I want to give a shout out
• 41:09
  to the live stream 2889 of you guys watching between X and
• 41:14
  YouTube. 656 live viewers on YouTube 2252 live viewers on X
• 41:21
  and holy cow 582 live viewers on the rumble audience.
• 41:28
  You guys are enjoying the show so far make sure to smash that
• 41:31
  like button Also want to share you guys limited merch drop at
• 41:36
  simply Bitcoin. We just dropped it.
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  in the description and we'll also put it's on YouTube.
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  It's on. YouTube, I think it's literally
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  right under us now. I think yeah, it's.
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  Right under us. I'm going to put it in the live
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  chat on Rumble and on YouTube, so you guys can check it out if
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  you're on Twitter, if you're watching us on X, you can go to
• 42:22
  simplybitcoin.com go to collections, and you guys could
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  check it out anyways guys, we still have a loaded show for you
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  guys. Let's check out the news.
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  Check out leaden dot IO today all right everybody, we are back
• 45:06
  guys. I want to tell you guys about
• 45:08
  this big news. We have the crypto summit
• 45:12
  happening at the White House on Friday hosted by the president
• 45:16
  Donald J Trump and let's check out this article by the block.
• 45:21
  Bitcoin to be treated differently from altcoins in US
• 45:25
  crypto reserve, says commerce secretary Howard Lupnik.
• 45:29
  It goes on to say more details about the potential US crypto
• 45:33
  reserve are to come out of the White House inaugural crypto
• 45:37
  summit on Friday. According to independent
• 45:40
  political news outlet the Pavlok Today quote, the president
• 45:44
  definitely thinks that there's a Bitcoin strategic reserve.
• 45:47
  Commerce Secretary Lepnick reportedly told the outlet
• 45:50
  quote, Now there will be the question of how do we handle the
• 45:54
  other crypto currencies? And I think the model is going
• 45:57
  to be announced on Friday when we do that.
• 46:00
  Lepnick suggested to the Pavlok Today that Bitcoin would receive
• 46:04
  a unique status under Trump's plans.
• 46:07
  A Bitcoin strategic reserve is something the president is
• 46:11
  interested in. He spoke about it all during the
• 46:14
  campaign trail. And I think you're going to see
• 46:16
  it executed on Friday. So Bitcoin is one thing and the
• 46:20
  other currencies, the other tokens, I think will be treated
• 46:23
  differently, positively, but differently.
• 46:26
  The White House Crypto Summit will be chaired by Trump's
• 46:29
  crypto czar David Sachs and Presidential Working Group on
• 46:33
  Crypto Executive director Beau Hines, strategy cofounder
• 46:37
  Michael Saylor, Coin Bay CEO Brian Armstrong, Crack Kraken
• 46:41
  CEO Arjun City and Chain Link cofounder Sergey Nasroth are
• 46:47
  expected to be among the crypto industry leaders in attendance.
• 46:51
  President Trump announced on Sunday that following his
• 46:55
  January executive order, he had directed a working group to move
• 46:58
  forward on AUS crypto strategic reserve, including ETH, XRP,
• 47:04
  Solana and Cardano, with those assets initially rising
• 47:09
  10/15/20, 5:30 and 70% from last week's lows, respectively.
• 47:15
  Bitcoin subsequently dropped over 10% and ether punched more
• 47:19
  than 15% after Trump's announcement.
• 47:21
  Announcement of new tariffs on imports from Canada, Mexico and
• 47:26
  China fueled risk off sediment sentiment, easing the crypto
• 47:30
  reserve news gains on Monday. Despite the recent announcement,
• 47:35
  questions remain over how any reserve would be funded and how
• 47:39
  likely it is to be enacted, with Federal Reserve and Treasury
• 47:43
  Department options both likely to require new legislation to be
• 47:47
  passed by Congress. And that's something that I want
• 47:50
  to talk about before I move on to the next article.
• 47:53
  So, OK, the president could do a lot with executive order.
• 47:57
  The problem is that if Trump does an A strategic reserve via
• 48:02
  executive order, it's all fine and dandy until the next
• 48:06
  administration. If it's done via the executive
• 48:10
  order, the next president. And if it's not JD Vance, it
• 48:14
  could either be AOC or Kamala. You don't know, right?
• 48:17
  I don't know. Or Gavin Newsom, but I I haven't
• 48:22
  seen a change in stance by the Democratic Party towards the
• 48:26
  industry yet. It's not monolithic.
• 48:28
  There are Democrats like Ro Khanna, Senator Gillibrand of
• 48:32
  New York that feel very positive towards the industry.
• 48:34
  It's not a monolithic stance but let's just say the the Elizabeth
• 48:39
  the Elizabeth Warren camp and Elizabeth Warren is the at the
• 48:44
  seat of for the Democratic Party on the Senate Banking Committee.
• 48:48
  She holds a lot of weight in what she says, right?
• 48:51
  And we, we know what she wants. She wants a central bank digital
• 48:53
  currency, right? So the risk of Trump doing this
• 48:58
  via executive order is that if the Republicans lose the
• 49:01
  presidency in 2028, they can just go in there and sell that
• 49:05
  entire strategic reserve, right? That that's what could happen.
• 49:08
  If you do it via legislation like the Bitcoin Act, what
• 49:12
  Senator Lummus has introduced in the Senate, then it could stand
• 49:16
  the test of time. It doesn't matter what president
• 49:18
  goes into office. It it, you can't you, you, you
• 49:23
  can't repeal it unless you pass future legislation.
• 49:26
  So now the question is, do the Republicans have the votes?
• 49:29
  They do not. They have a slim majority in the
• 49:32
  House, but they don't have a filibuster proof vote in the
• 49:36
  Senate. They only hold 53 seats.
• 49:40
  To be filibuster proof, you need 60 votes, right?
• 49:43
  So the question is, are there 7 Democratic senators that are
• 49:47
  willing to get behind the Bitcoin Act?
• 49:49
  I asked this question to Senator Lummus in Washington.
• 49:52
  DCI went over and I interviewed her at the Capitol.
• 49:56
  It was quite awesome. It was great experience.
• 49:58
  You guys could go check out that interview.
• 49:59
  It's on the Simply Bitcoin channel and on the podcast.
• 50:03
  And she said she's very hopeful about it, but we don't know with
• 50:07
  that. That's the that's the that's the
• 50:09
  honest truth. Now, the good news is on the
• 50:12
  short term, Trump can do a lot via executive order.
• 50:15
  And I think he's planning to do a lot via executive order.
• 50:18
  So we'll see what happens. And a quick reminder as well.
• 50:22
  The six one O 2 order by FDR was an executive order at first.
• 50:28
  It only become it only became legislation after the fact.
• 50:32
  So FDR essentially making it illegal for citizens to own
• 50:36
  gold. That was done via executive
• 50:39
  order at first and then it is when he did it via the
• 50:45
  legislative process. Anyways, this this took a little
• 50:47
  bit longer than than I thought. So we'll cover the US Marshall
• 50:50
  thing tomorrow. Opti, what are your thoughts,
• 50:52
  man? What's going on here?
• 50:55
  Like it? Like what are your thoughts
• 50:57
  dude? Yeah, well, very surprising to
• 51:01
  say the least when I saw this kind of pop up on Twitter
• 51:04
  yesterday. I think this is a great
• 51:06
  development. I'm I remember when we had the
• 51:10
  initial announcement of, I'm forgetting what the working
• 51:13
  group remember. It was basically just going to
• 51:15
  be industry leaders. And then they talked about more
• 51:17
  of like a working group summit. And I, I think this is part of
• 51:21
  the development that we've been here.
• 51:22
  And actually the part about the working group summit, remember
• 51:25
  the reason that they did that was because of quote, tribalism
• 51:28
  in the crypto space. Obviously it's the Bitcoiners
• 51:30
  being like, get that shit coin stuff out of here.
• 51:33
  This has nothing to do with us. It's not the same thing.
• 51:36
  There needs to be a completely differentiation here.
• 51:39
  And if you combine them all together, that's not only going
• 51:42
  to be a bad look for you guys. And you know, taxpayers are
• 51:44
  basically getting dumped on by VC funding.
• 51:47
  And now it seems like either, on the one hand, they are either
• 51:51
  doing like a real time crash course and learning about what
• 51:54
  all this stuff is. Obviously can't really expect
• 51:56
  politicians to know all the intricacies about the Bitcoin
• 51:59
  and slash crypto industry, but it does seem like maybe they are
• 52:03
  learning or at the very least they are listening to everyone
• 52:07
  yelling at them. So all of us tweeting about
• 52:10
  this, all of us making a fuss about it, I think it might
• 52:13
  actually be working. I think we're starting to see
• 52:16
  that, hey, they are listening to what the people want.
• 52:20
  And if people in the industry are kind of saying like, look,
• 52:24
  even even like member Brian Armstrong saying like maybe it
• 52:26
  should only be Bitcoin. If even the leaders or quote UN
• 52:29
  quote thought leaders in the space, the people that are
• 52:31
  making the business, the people that are kind of the, you know,
• 52:33
  the, the talking heads in the facing publicly facing figures
• 52:36
  are saying maybe it should be Bitcoin only.
• 52:39
  I think we are starting to see some headwinds here and we're
• 52:41
  starting to see or wait, no, sorry, tailwinds here.
• 52:44
  And we're starting to see the the Bitcoin signal breakthrough
• 52:48
  here because as we've been saying, as I was trolling, it's
• 52:50
  like, okay, if 30% of the strategic Bitcoin reserve is
• 52:54
  going to be in Bitcoin, then that means the other 70% is
• 52:57
  going to go to 0. So they're either listening to
• 52:59
  us or they are learning in real time.
• 53:02
  Now, I do find it interesting though, that, you know, a very
• 53:06
  big name wasn't announced that was going to be a part of the
• 53:10
  people at that summit on Friday. And that is of course, Brad
• 53:14
  Garlinghouse, which is of course, the XRP guy.
• 53:17
  And that name wasn't a part of this.
• 53:19
  So hopefully they are learning that, hey, maybe, maybe we don't
• 53:24
  want to give special favors to this XRPCEO and we are kind of
• 53:29
  moving away. So maybe they swapped out Sailor
• 53:31
  for Brad Garlickhouse here and maybe we will see some good
• 53:35
  stuff come out of this on Friday.
• 53:37
  Obviously, you know, we probably shouldn't be holding our breath
• 53:41
  here because it's we'll probably be disappointed, but it seems
• 53:45
  like it's moving in the right direction.
• 53:47
  So I am really excited and I'm sure we'll cover this either on
• 53:51
  our Twitter by Friday or if it, I don't know when the time is.
• 53:55
  I think it's later in the day. So we'll probably be covering
• 53:57
  the stuff that comes out of it on Monday next week.
• 53:59
  But it is very interesting to see that they do seem to be
• 54:02
  changing. They're tuned.
• 54:04
  And as we've been saying for a long time, obviously there's
• 54:07
  Bitcoin and then there's everything else.
• 54:09
  So look, as much as we aren't for Bitcoin being treated
• 54:13
  differently or getting, you know, favors from the government
• 54:16
  here, everyone knows that there is Bitcoin and then there's
• 54:19
  everything else and they aren't on the same caliber, the same
• 54:23
  playing field. Like there's Bitcoin and
• 54:25
  everything just follows Bitcoin. So it seems like you know Howard
• 54:29
  Leutnik, the Bitcoiner that he is, you know he he holds a lot
• 54:32
  of the Tesseractics. We know he's trying to buy
• 54:34
  hundreds of millions of dollars of Bitcoin.
• 54:36
  It seems like the Bitcoin message, the Bitcoin maxi
• 54:39
  message is finally getting through.
• 54:41
  So hey it we. Made it up.
• 54:43
  We made enough noise. We made enough noise to.
• 54:45
  Make the noise because it it does.
• 54:47
  At least from this news, this development, it does seem like
• 54:50
  it's working. So.
• 54:52
  Absolutely, absolutely. All right, guys.
• 54:54
  So I do, I think we have enough time to cover this.
• 54:56
  So we're going to we're definitely because I want to
• 54:58
  connect the dots between the two.
• 54:59
  I don't think this article is OK.
• 55:02
  So Biden definitely knew that Trump had a plan to, you know,
• 55:09
  in like, you know, basically roll out a strategic Bitcoin
• 55:13
  reserve. Elizabeth Warren wants a central
• 55:18
  bank digital currency. There was a bill, there was a
• 55:21
  bill that that was passed in the House last year, essentially.
• 55:24
  And it was essentially divided across party lines where the
• 55:27
  vast majority of Republicans voted against essentially
• 55:31
  against the federal that would ban the federal government from
• 55:35
  rolling out a central bank digital currency.
• 55:37
  And the vast majority of Democrats voted for the bill
• 55:41
  that would allow the government to pass a central bank digital
• 55:45
  currency to, to, to roll out a central bank digital currency.
• 55:47
  So it's pretty divided. It's not monolithic, like I've
• 55:51
  said a million times, but that's where it stands right now.
• 55:55
  Now, the reason I'm bringing all this up is check this out.
• 56:00
  And according to David Bailey, none of this is a coincidence.
• 56:03
  But this is a headline. US Marshall Service can't say
• 56:07
  how much crypto it holds, complicating Bitcoin Reserve
• 56:11
  plans. That goes on to say the US
• 56:14
  Marshall Service is tasked with managing assets seized by law
• 56:17
  enforcement in the course of criminal investigations.
• 56:21
  It it is also supposed to be handling crypto currencies, for
• 56:25
  example, the billions of dollars worth of Bitcoin seized by the
• 56:28
  Federal Bureau, the FBI from darknet marketplace Silk Road.
• 56:32
  However, the USMS doesn't seem to know how much crypto it
• 56:37
  currently has. In fact, the agency is
• 56:40
  struggling to come up with the rough estimate of even its
• 56:43
  Bitcoin holdings, a source familiar with the matter told
• 56:46
  Coin Desk That could be a problem in light of White House
• 56:50
  cryptozar David Sachs announcement earlier this month
• 56:54
  that the US government is actively studying the
• 56:56
  possibility of constituting a national crypto reserve, meaning
• 57:00
  that the government might stop liquidating seized crypto
• 57:03
  currencies. Quote When you start talking
• 57:05
  about reserves, you need to be familiar with the unique
• 57:08
  properties of the asset like forks astrops.
• 57:11
  I mean that that applies to all coins, not really Bitcoin.
• 57:14
  Anyways, you guys get the general gist of this and like,
• 57:18
  you know, with everything that happened with with Dodge and
• 57:20
  Elon and you know, all the things of the, the, the law fair
• 57:24
  against the, you know, the previous president who's now
• 57:27
  president Operation choke .2 point O like, forgive me, I'm a
• 57:31
  little bit jaded. I'm a little bit jaded.
• 57:33
  Opti could have told you. I I was like, no man, they just
• 57:37
  don't know any better. That's that was Nico January of
• 57:40
  2024. By the end of 2024, I was like
• 57:42
  Trump 2024. They're going after our keys.
• 57:45
  They're going after the mining industry like holy cow.
• 57:48
  But I gave him the benefit of doubt for over a year and then
• 57:51
  it became very apparent that, you know, the Elizabeth Warren
• 57:55
  camp was very hostile towards the industry just became super,
• 57:59
  super, super apparent. So I think the the question I'm
• 58:03
  going to be dropping off to you guys because we don't know for
• 58:05
  sure is how do you lose track of hundreds of thousands of
• 58:11
  Bitcoins? Like it's like, oh, we lost it.
• 58:15
  Did you lose it or did you sell it?
• 58:17
  Did you lose it or was it sold? Right?
• 58:19
  Like that's the question that I have for you guys and I'll let
• 58:23
  let us know in the chat what you think.
• 58:25
  If you think they if you think that the US government still has
• 58:29
  that Bitcoin drop A1 in the chat.
• 58:32
  If you think they don't drop A2 in the chat, do you think the US
• 58:35
  government still has the goal that Fort Knox drop A2 in the
• 58:38
  chat? If you think they do have that
• 58:41
  goal, you guys get the point. Opti, what are your thoughts on
• 58:45
  this, bro? Because there's so many
• 58:49
  coincidences, man. There's so many coincidences and
• 58:52
  all this. And I'm a little bit jaded
• 58:55
  because there's a point last year that I thought we were
• 58:59
  going to have to move to El Salvador, bro, because, you
• 59:01
  know, it was getting kind of spicy.
• 59:03
  They're attacking our industry. Self custody was under attack.
• 59:06
  The mining industry was under attack.
• 59:09
  You know, people were getting debanked.
• 59:11
  Bitcoin exchanges were being debanked.
• 59:13
  It was quite a scary time in history.
• 59:16
  Now it complete 180 right? But what are your thoughts,
• 59:21
  Opti, before we move on to the culture my.
• 59:22
  Thoughts are I'm not leaving. No, I mean, when we covered this
• 59:27
  story, like when it first came out, I think it's interesting to
• 59:31
  kind of bring this up today considering what we're going to
• 59:33
  potentially hear on Friday is, you know, we haven't really
• 59:37
  heard much from this. And like you said, like did they
• 59:40
  really fumble the bag here? You know, did they lose the
• 59:43
  keys? Did someone within the
• 59:45
  administration sell that Bitcoin?
• 59:47
  Did it get stolen? I think all of these questions
• 59:50
  are really big questions that need to be answered when you are
• 59:54
  talking about what is going to happen with the strategic
• 59:57
  Bitcoin reserve, considering that we're seeing that it's
• 59:59
  becoming a like a very top list of a priority for the Trump
• 1:00:03
  administration to do a strategic Bitcoin reserve.
• 1:00:06
  Remember, all the Bitcoiners basically only voted for Trump
• 1:00:09
  because he. Announced that he was going to
• 1:00:11
  do a strategic Bitcoin reserve and now as the saying's been
• 1:00:14
  saying, you know, promises made, promises kept.
• 1:00:16
  So it seems like he's either going to answer these questions
• 1:00:20
  over the weekend or, you know, maybe we won't get more clarity
• 1:00:24
  here. But you know, as David Bailey's
• 1:00:26
  been saying, he's been saying for a while that he thinks, and
• 1:00:30
  I don't know if he has sources here or if this is just him
• 1:00:33
  speculating, but he thinks that the, you know, DOJ in the
• 1:00:36
  Marshall's office has essentially been liquidating
• 1:00:39
  those Bitcoin holdings, which could account for the fact that
• 1:00:41
  the Bitcoin price has been dumping.
• 1:00:43
  If they're dumping Bitcoin on the market, then, you know,
• 1:00:46
  there's a lot of Bitcoin being sold.
• 1:00:47
  So it is very interesting to bring up in the light of what
• 1:00:50
  we're going to hear on Friday. Do they even have all this
• 1:00:52
  Bitcoin? Or rather what are the mechanics
• 1:00:55
  or the technicals for how they're going to do the
• 1:00:57
  strategic Bitcoin reserve? Like we know a lot of rumors
• 1:01:00
  have been saying that they were essentially just going to take
• 1:01:02
  the Bitcoin they hold and essentially just put that into
• 1:01:06
  the strategic Bitcoin reserve. Well, it's going to be
• 1:01:08
  interesting. If they don't have the Bitcoin,
• 1:01:10
  you know, they're going to have to buy the Bitcoin on the open
• 1:01:12
  market. Like I don't know, it all
• 1:01:15
  sounds, I think it's all a win win.
• 1:01:16
  I mean, mine is, you know, the US government profiting off seas
• 1:01:21
  Bitcoin. But hey, you know what, that's
• 1:01:23
  kind of what they do here. But if they end up not having
• 1:01:26
  this Bitcoin and they buy Bitcoin on the market, open
• 1:01:29
  market, it looks like we are going to get number going up
• 1:01:35
  exponentially. Hardcore, hardcore.
• 1:01:39
  Who knows what, who knows? Like at this point, who knows
• 1:01:42
  what's going on with that Bitcoin?
• 1:01:43
  We haven't heard anything back about this for a couple of a
• 1:01:46
  couple of weeks now or yeah, yeah, about a month.
• 1:01:49
  No, it's been like two to three weeks.
• 1:01:50
  But hey, how do you lose 10s of thousands of Bitcoin?
• 1:01:53
  Like how do you lose is? That a rhetorical question
• 1:01:55
  because we just know how inefficient and incompetent
• 1:01:58
  governments are, so are we surprised that they lost the
• 1:02:00
  keys? Was it lost or was it sold?
• 1:02:03
  Like I feel like it was sold dude.
• 1:02:05
  If you did. You wait, wait, wait.
• 1:02:07
  Hold on, hold on. Did you see that?
• 1:02:09
  Did you see the the the Trump speech yesterday where there's
• 1:02:12
  someone who's been collecting Social Security and they're 360
• 1:02:16
  years old? Did you see that shit?
• 1:02:18
  That was gnarly, dude. Holy cow.
• 1:02:22
  But yeah. Yeah, no, like I was going to
• 1:02:23
  say, because when you look at the the like the that story and
• 1:02:27
  you really break it down, they were essentially sending like,
• 1:02:30
  you know, seed phrases over just e-mail.
• 1:02:33
  Like are we surprised by the fact that the government is in
• 1:02:37
  common? Like what's the government ever
• 1:02:39
  done? They're they're usually more
• 1:02:41
  incompetent in the than the privates I have.
• 1:02:43
  The vast majority of people in the chat are saying it's they
• 1:02:47
  lost it. Yeah, it's lost.
• 1:02:51
  It's lost. Anyways, guys, if you guys are
• 1:02:54
  enjoying the show so far, we're on the verge of breaking 300
• 1:02:56
  likes on YouTube. Smash that like button.
• 1:02:58
  Shout out to the YouTube audience.
• 1:03:00
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• 1:03:04
  live viewers on on Rumble alone. And of course, the X audience
• 1:03:08
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  If you guys are enjoying the show, smash the like button,
• 1:03:14
  consider following or subscribing to simply Bitcoin.
• 1:03:17
  And we still have the culture segment.
• 1:03:19
  We're going to be talking about the price of eggs.
• 1:03:21
  That's a narrative that we keep hearing.
• 1:03:23
  The price of eggs, the price of eggs.
• 1:03:25
  The government isn't doing enough to bring down the price
• 1:03:27
  of eggs. Well, I mean, you don't have to
• 1:03:29
  rely on the government to bring down the price of eggs.
• 1:03:31
  You're just using the wrong currency.
• 1:03:33
  You should be using Bitcoin. So we're going to be talking
• 1:03:35
  about that during the culture segment.
• 1:03:36
  We'll be right. Give a shout out to our partner
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  at Hive digitaltech.com. I want to give a very special
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  OK, all right, Boys and girls. Mainly boys, but some girls.
• 1:05:28
  Here's the culture. As you know, the culture is not
• 1:05:31
  just bringing on Bitcoiners to expose you to what we call the
• 1:05:34
  Bitcoin culture, but also doing some social commentary on the
• 1:05:37
  the Fiat culture at large. And as a bitcoiner, as an
• 1:05:42
  amateur Austrian economist over here, someone that's understood
• 1:05:46
  Bitcoin, you just see so many flaws in in the corporate
• 1:05:49
  presses coverage of economics. And it's very easy.
• 1:05:53
  One, you know, they try to gaslight you because they know
• 1:05:56
  that you probably don't understand economics.
• 1:05:58
  And two, they for the most part are Keynesians.
• 1:06:00
  Now, I'm not going, you know, full left or right here.
• 1:06:04
  I'm not, I'm not sticking up for any camp here.
• 1:06:06
  I'm just kind of exposing the ridiculousness of the economics
• 1:06:10
  here. And of course that your life
• 1:06:12
  just gets cheaper on Bitcoin. So I'm going to cycle through a
• 1:06:15
  couple of headlines here. You know, the dates don't really
• 1:06:17
  matter. These been in the last couple of
• 1:06:19
  days, the last couple of weeks, it's all about the egg prices.
• 1:06:22
  We've all probably heard all of the, you know, the noise about
• 1:06:27
  egg prices. So here I'm just, you know,
• 1:06:29
  going through some of the big corporate presses and some
• 1:06:31
  headlines. And the first one we have from
• 1:06:33
  CBS News and it goes Trump calls egg prices a quote disaster.
• 1:06:37
  Is a federal rule helping to keep egg prices high or the next
• 1:06:41
  one, this one's from the Guardian, $5 a dozen major egg
• 1:06:45
  companies may be using avian flu to hike US prices.
• 1:06:48
  New report finds. Guys, it's a report.
• 1:06:51
  The report is saying that that producers of eggs are hiking the
• 1:06:57
  prices or this next one, this one's coming from Fox News.
• 1:07:01
  Trump admin scrutinizing kill all the chicken policy as bird
• 1:07:04
  flu ravages egg prices. Or.
• 1:07:07
  The next one, this one's from Politico.
• 1:07:09
  This dropped yesterday. Trump says little on egg prices
• 1:07:13
  the president should offer or the president offers no solution
• 1:07:16
  for rising prices. And this next one, Trump
• 1:07:20
  promised to lower egg cost. Everything just got more
• 1:07:24
  expensive. So what is going on with the
• 1:07:26
  eggs, guys? Oh, my goodness.
• 1:07:28
  The eggs are going exponential. And like I said, you know, I'm
• 1:07:33
  using some charts here. If you guys know
• 1:07:36
  fred.saintlouisfed.org, they give you some of the best charts
• 1:07:40
  here. And they actually have, you
• 1:07:42
  know, a chart on the average prices of eggs.
• 1:07:44
  And as you can see, it's been going up since forever.
• 1:07:47
  This is 1981, just increasing in price.
• 1:07:51
  You know, maybe it's following something more than just very
• 1:07:54
  selfish egg producers. But even if you zoom in here, in
• 1:07:57
  the last five years since 2020, it's still going up.
• 1:08:00
  It's almost parabolic. And in the last year, the price
• 1:08:03
  in eggs is increasing. So what is going on?
• 1:08:07
  Well, as a bitcoiner, I'd probably just go and point to
• 1:08:10
  this chart. The M2 money supply, it seems to
• 1:08:13
  be going up and to the right. The expansion of money is
• 1:08:16
  probably why inflation is happening.
• 1:08:18
  But hey, what do I know, I'm just an amateur Austrian
• 1:08:21
  economist here. And even the last five years,
• 1:08:24
  it's continued to go up since 2020.
• 1:08:26
  And even in the last year, it's still going up.
• 1:08:28
  So it's almost like the egg prices are following the M2
• 1:08:32
  money supply. What a coincidence here.
• 1:08:34
  It's not. It's not greedy producers here.
• 1:08:36
  It's not the greedy farmers hiking rates on egg prices.
• 1:08:41
  It might just be that they have increased the money supply,
• 1:08:44
  hence why inflation's going up. But that's besides the point.
• 1:08:46
  That's totally besides the point.
• 1:08:48
  That's not why we're here. We're here.
• 1:08:49
  I'm going to show you one of my favorite charts and you do have
• 1:08:52
  to do a little bit of tinkering on the Fred Saint Louis site,
• 1:08:58
  but you can do egg, average egg prices in Bitcoin terms.
• 1:09:03
  And as you can see, and this only goes to 2015, the price of
• 1:09:08
  eggs in Bitcoin is just dropping.
• 1:09:12
  It's it's never been cheaper in the last what is this 10 year,
• 1:09:17
  11 years than today to buy eggs in Bitcoin?
• 1:09:20
  But you know, you probably didn't buy Bitcoin in 2015.
• 1:09:22
  You're like, cool bro, cool story.
• 1:09:24
  Tell me about today. Well, if you bought Bitcoin in
• 1:09:27
  2020, your egg prices have dropped about 3/3 times It was,
• 1:09:34
  you know, roughly around 16,000. Now it's around 4000.
• 1:09:39
  So you know it's dropped about four times anyways in the last
• 1:09:43
  year is probably the only the only number you really care
• 1:09:45
  about. It's still going down.
• 1:09:48
  The price of eggs in Bitcoin is still cheaper even by the feds
• 1:09:53
  numbers themselves. And you know, Bitcoin has kind
• 1:09:56
  of just gone sideways like yes, it's gone up, but it's really,
• 1:10:00
  you know, gone sideways. So even in the face of looking
• 1:10:02
  at this chart of average prices of eggs going up, the average
• 1:10:06
  price of eggs in Bitcoin terms is going down.
• 1:10:10
  And this is what we try to tell you guys every single day.
• 1:10:13
  We probably bring this chart up or this website up, priced in
• 1:10:16
  bitcoin21.com all the time on the show.
• 1:10:19
  And it doesn't really matter what metric you look at, your
• 1:10:23
  life gets cheaper on Bitcoin. And this is what we try to tell
• 1:10:26
  everyone. It's not about getting quick
• 1:10:28
  rich or getting rich quickly in Bitcoin.
• 1:10:31
  It's about saving your purchasing power in Bitcoin over
• 1:10:35
  an extended time and over that extended time at least, you
• 1:10:38
  know, we like we used to like to say four years.
• 1:10:41
  If you saving Bitcoin around four years, your life's going to
• 1:10:43
  get cheaper. Now maybe we have to kind of
• 1:10:45
  extend that a little bit, you know, at least two cycles.
• 1:10:48
  So I know it's not sexy to say, hey, you know, saving Bitcoin in
• 1:10:52
  eight years, your life's going to get better.
• 1:10:54
  Well, you know, we're talking about building long term
• 1:10:57
  generational wealth here, so it doesn't happen overnight.
• 1:11:00
  I would say, I would say it still takes four years and
• 1:11:02
  you're life will get better, but it takes eight years to like be
• 1:11:06
  relatively wealthy compared to where where you started.
• 1:11:09
  And I I say I would say wealthy to compared to where you started
• 1:11:12
  takes about 8 years. Yeah, for sure.
• 1:11:14
  But your life will get better within four years if you start
• 1:11:17
  saving in Bitcoin today. It's.
• 1:11:19
  About getting rich overtime with eggs lol you guys are funny.
• 1:11:24
  Yeah guys. So look, you've seen the
• 1:11:26
  narratives on all of the corporate press sites.
• 1:11:29
  This is one of those meme topics that you're hearing both sides
• 1:11:33
  of the aisle talk about the price of eggs.
• 1:11:35
  We're so focused on the price of eggs.
• 1:11:37
  They never really get to. The actual problem here is that
• 1:11:41
  they're expanding the money supply.
• 1:11:42
  Guys, inflation is very simple to understand.
• 1:11:45
  It's not about, you know, consumer prices going up.
• 1:11:47
  That's how they sell it to you. It's about the expansion of the
• 1:11:50
  money supply. That is why things get more
• 1:11:53
  expensive. This is why in the Fiat world
• 1:11:55
  you're life is more expensive is because they constantly create
• 1:11:58
  more dollars. So more dollars are buying for
• 1:12:01
  similar products, which means you have to raise the price of
• 1:12:04
  things to either keep, keep up with the, you know, not only the
• 1:12:07
  consumption level, but also the production level.
• 1:12:10
  And, and none of these corporate, yeah, corporations,
• 1:12:14
  media corporations or even the politicians are talking about
• 1:12:17
  what is going on, What is the real problem here?
• 1:12:20
  Or rather, what is the solution? They're just talking about all
• 1:12:23
  these different, I would say conspiracy theories on the
• 1:12:25
  reasons why egg prices are so high, when in reality they're
• 1:12:30
  just creating more dollars guys. So This is why you saving
• 1:12:32
  Bitcoin. You know, you can go buy
• 1:12:34
  yourself some eggs and, and you can eat a good and you don't
• 1:12:38
  have to worry about the price of eggs, man.
• 1:12:39
  Just start saving in Bitcoin and your life gets cheaper even by
• 1:12:43
  the feds data themselves. Your life is cheaper.
• 1:12:45
  And actually, you know, I was looking at this chart.
• 1:12:48
  I haven't looked at this in a while.
• 1:12:49
  I've done this in the past and I looked at it and I I was kind of
• 1:12:52
  surprised that even the fact that Bitcoin is kind of going
• 1:12:55
  sideways, that egg prices have continued to decline.
• 1:12:59
  So Bitcoin seems to be working very well as a store of value, a
• 1:13:03
  la what BlackRock has been saying.
• 1:13:05
  So, you know, stack some Bitcoin, eat some eggs.
• 1:13:09
  Your life is good, man. Absolutely Amen to that brother.
• 1:13:13
  And what I what I will say is like This is why the IMF fought
• 1:13:17
  so hard for for to take Bitcoin off legal tender.
• 1:13:21
  Like this is what it's all about, guys, is it?
• 1:13:24
  Listen, when you, when you put Bitcoin side to side with Fiat,
• 1:13:29
  it's better money. And that's a clear and present
• 1:13:33
  danger to the entire system, the control system, because that's
• 1:13:36
  really what it is like, if we're being blunt.
• 1:13:39
  And the IMF can't have that. And they can't have that under
• 1:13:42
  no circumstances. And that's why they did what
• 1:13:45
  they did, right? And you know, look at the data
• 1:13:50
  yourself, right? Like when you start saving and
• 1:13:53
  earning a Bitcoin, everything gets cheaper over time, right?
• 1:13:57
  It and that completely puts the world upside down for for a lot
• 1:14:01
  of financial institutions that make a living off, you know,
• 1:14:04
  trying to, you know, make a return on your investment.
• 1:14:09
  It puts governments in a pickle because how do they explain
• 1:14:13
  inflation to their population, especially if there's an
• 1:14:16
  alternative that doesn't have inflation?
• 1:14:18
  Like this is a pivotal moment in human history.
• 1:14:22
  You want to know why the IMF did what they did?
• 1:14:23
  This is why. This is why like he's trying to
• 1:14:26
  meme it into existence with the whole egg thing because that's
• 1:14:29
  like the whole talking point you hear lately in the in the cycle
• 1:14:34
  from the from the Democrats. Or like Trump promised to lower
• 1:14:36
  the egg prices when he would get into office, and he hasn't
• 1:14:40
  lowered the egg prices. And then of course, Trump when
• 1:14:42
  Biden was in office was like the egg prices went up.
• 1:14:46
  Like, and this is the mind fuck, excuse my language.
• 1:14:49
  Like politicians don't have the ability to lower the price of
• 1:14:54
  eggs. If you want to lower the price
• 1:14:57
  of eggs, just use better money. Start using Bitcoin as your unit
• 1:15:01
  of of account. The price of of eggs will trend
• 1:15:04
  to 0 in Bitcoin terms. Like literally everything trends
• 1:15:09
  to 0 in Bitcoin terms. So Jose in the chat says the IMF
• 1:15:13
  wants all the eggs for themselves.
• 1:15:14
  It's absolutely hilarious. Anyways guys, I do want to give
• 1:15:17
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  Anyways guys, we love you all. That was Simply Bitcoin live for
• 1:15:56
  March 5th, 2025. If you guys enjoyed the show,
• 1:15:59
  you know what to do Smash the like button, but consider
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  subscribing to simply Bitcoin. Share the episode.
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  Get the message out there. It's not red versus blue.
• 1:16:07
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• 1:16:09
  It's it's green versus orange. It's Bitcoin versus slavery.
• 1:16:12
  Love you all. We'll see you guys on the next
• 1:16:14
  one. Today's episode was brought to
• 1:16:16
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:16:19
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