Latest / Simply Bitcoin / BLACKROCK: "Bitcoin Will Replace US Dollar If THIS Doesn't Happen...'' | EP 1212

Transcript

BLACKROCK: "Bitcoin Will Replace US Dollar If THIS Doesn't Happen...'' | EP 1212 · Simply Bitcoin

• 0:00
  Yo BlackRock CEO just released its annual 27 page letter to
• 0:04
  investors and it made a mass Bitcoin prediction.
• 0:08
  Larry Fink said that Bitcoin will take the dollar's global
• 0:11
  reserve status if the US can't get its debt under control.
• 0:16
  When Uncle Larry speaks, trillions of dollars of capital
• 0:20
  take notice. Today we're going to be
• 0:22
  explaining why the world's largest asset manager now
• 0:26
  believes Bitcoin could actually threaten the US dollar.
• 0:31
  Anyways guys, it's going to be an incredible show.
• 0:33
  Joined me with me today as my legendary Co host who's always
• 0:36
  optimistic optimist fields and of course we got D in the house
• 0:42
  from quaint kite. We're going to be talking all
• 0:44
  things point kite later on in the show.
• 0:47
  All right, ladies and gentlemen, no more delay.
• 0:48
  Let's jump straight into today's news.
• 0:51
  So what are we even talking about?
• 0:52
  I mean, even Senator Lummus, the Bitcoin senator has mentioned
• 0:57
  this report and we're going to do a deep dive into, into the
• 0:59
  report itself. So Senator Lemmon says reasons
• 1:02
  to pass the Bitcoin Act and buy baby buy.
• 1:06
  I love how she's like kind of copying the whole Trump drill,
• 1:09
  baby drill, but paying it for Bitcoin.
• 1:11
  Buy baby, buy #1 the Bitcoin Act will help America get our debt
• 1:16
  under control #2 only one nation will have the juice to own
• 1:22
  enough Bitcoin to underpin its currency as the as the world's
• 1:27
  reserve currency or dollar. Whatever.
• 1:30
  The clock and next block are ticking.
• 1:32
  Let's go. I love how she has like the
• 1:35
  Bitcoin lingo in her post. It's super, super fitting.
• 1:39
  So what is she referencing? She's referencing this BlackRock
• 1:42
  report that actually just dropped, and we're going to
• 1:46
  check it out. Here it is.
• 1:48
  The name of the report is the Democratization of Investing.
• 1:53
  And on page 20 of this report from the report itself, Opti, if
• 1:58
  you could drop it in the live chat, it'd be great.
• 2:01
  Can Bitcoin eat away at the US dollar's reserve status?
• 2:06
  The US has benefited from the dollar serving as the world's
• 2:09
  reserve currency for decades. That's not guaranteed to last
• 2:13
  forever. The national debt has grown at
• 2:16
  three times the pace of GDP since Times Square debt clock.
• 2:21
  The Times Square debt clock started ticking in 1989.
• 2:24
  This year, interest payments will surpass $952 billion,
• 2:31
  exceeding defense spending by 20-30.
• 2:34
  Mandatory government spending and debt service will consume
• 2:38
  all federal revenue, creating a permanent deficit.
• 2:43
  If the US doesn't get its debt under control, its deficits keep
• 2:47
  ballooning. America risks losing that
• 2:50
  position to digital assets like Bitcoin.
• 2:54
  That is very, very interesting. I mean, from a Bitcoiners
• 2:59
  perspective, I mean, isn't that the goal, right?
• 3:01
  Is the goal is, you know, we want Bitcoin to be the world
• 3:05
  reserve currency. We want Bitcoin to be the most
• 3:08
  used currency in the world. But at the same time, it's like,
• 3:12
  it's it's interesting, man, Like, like Bitcoiners are in the
• 3:16
  room in DC. You know, obviously we're having
• 3:20
  influence on policy and it seems like the agreement right now
• 3:25
  there is, I remember Howard Leupnik, who's now commerce
• 3:27
  secretary. He's like, look, as long as
• 3:29
  Bitcoin isn't a currency and it's a commodity, it's not a
• 3:32
  problem, right? But if it's seen as a currency,
• 3:35
  you know it it will be a problem with the politicians.
• 3:38
  That's how that's how Howard Leupnik framed it.
• 3:40
  That was on Poms podcast, You know, so right now it seems
• 3:44
  like, you know, both sides essentially could play fair if
• 3:48
  they stay in each other's lanes, right?
• 3:49
  Bitcoin, you know, remains this super commodity that also has
• 3:53
  money like features and functions and characteristics.
• 3:56
  And then the US dollar can continue being the world's like
• 4:00
  transaction currency. And they're using a lot of the
• 4:03
  whole stablecoin thing to, you know, essentially export the US
• 4:08
  dollar, the US the the use of the US dollar worldwide.
• 4:11
  So, but it's interesting that BlackRock is basically saying,
• 4:15
  look, it doesn't matter how much you export the dollar using
• 4:18
  stable coins, it doesn't matter. You know what you guys do,
• 4:24
  unless you guys get these deficits under control, you
• 4:27
  know, it's an inevitability that something will take the dollar's
• 4:31
  place. Now, if you are to believe what
• 4:35
  Larry Leopard or like Lynn Alden, you want to believe what
• 4:38
  they're saying. And CJ, we're actually going to
• 4:40
  be dropping that clip for you guys in a couple days, if you
• 4:43
  are to believe what they're saying.
• 4:45
  To use Lynn's own words, there is no stopping this train.
• 4:49
  Even with Doge going in there and cutting government spending,
• 4:54
  you can't stop. Like, the deficit is so crazy,
• 4:57
  right? So even if Elon gets his
• 5:00
  targeted cut of $1 trillion, the US is still deficit spending
• 5:05
  like 2 trillion a year, right? And just to kind of give you
• 5:08
  guys a perspective of how much money that is, the total GDP of
• 5:12
  El Salvador is $32 billion. So the US government spends 1 to
• 5:16
  2 trillion more than it collects in tax revenue every single
• 5:19
  year. And the way that it does that is
• 5:21
  by printing the difference. So anyhow, here's the Forbes
• 5:25
  article that's covering the whole thing that happened with
• 5:28
  BlackRock releasing this report and says, quote, a safer bet.
• 5:33
  BlackRock CEO issues huge $952 billion Bitcoin price warning to
• 5:40
  the US dollar. That's not a YouTube title, that
• 5:43
  is a Forbes article. Ladies and gentlemen.
• 5:46
  Bitcoin has surged over the last year, with the Bitcoin price
• 5:49
  soaring to record highs as a perfect storm of Washington DC
• 5:54
  and Wall Street collide. The Bitcoin prices drop back
• 5:57
  from its peak of $110,000 per Bitcoin reached in January ahead
• 6:02
  of U.S. President Donald Trump's return
• 6:04
  to the White House. Now is top traders bet on
• 6:06
  looming Federal Reserve flip The chief executive of the world's
• 6:10
  largest asset manager, BlackRock, has warmed Bitcoin
• 6:13
  could be eating away at the US dollar's world reserve currency
• 6:18
  status quote. The US has benefited from the
• 6:21
  dollar serving as the world's reserve currency for decades,
• 6:25
  but that's not guaranteed to last forever.
• 6:28
  By 20-30, mandatory government spending and debt service will
• 6:32
  consume all federal revenue, creating a permanent deficit if
• 6:36
  the US doesn't get its debt under control.
• 6:39
  If deficits keep looming, ballooning, America risks losing
• 6:43
  position digital assets like Bitcoin.
• 6:47
  U.S. debt has soared over recent years, topping 34 trillion at
• 6:52
  the beginning of 2024 before climbing over 35 trillion just a
• 6:57
  year later. With COVID era stimulus measures
• 7:01
  contributing to massive government spending and helping
• 7:04
  to send inflation spiraling out of control.
• 7:06
  In 2022, inflation of over 10% forced the Federal Reserve to
• 7:11
  hike interest rates at a historical clip, pushing up debt
• 7:16
  interest payments and fueling fears of a debt spiral.
• 7:19
  Quote. To be clear, I'm obviously not
• 7:22
  anti digital assets, Fink wrote, pointing to his plan to
• 7:26
  democratize access to finance and markets with crypto
• 7:29
  technology. But two things can be true at
• 7:31
  the same time. Decentralized finance is an
• 7:34
  extraordinary innovation. It makes markets faster,
• 7:38
  cheaper, and more transparent. Yet that same innovation could
• 7:42
  undermine America's economic advantage if investors begin
• 7:46
  seeing Bitcoin as a safer bet than the dollar thinks.
• 7:51
  Warnings echoes similar sentiment expressed by the likes
• 7:54
  of Tesla billionaire Elon Musk, who last month called the
• 7:58
  climbing U.S. debt clock terrifying and last year
• 8:02
  repeatedly warned of U.S. financial collapse while on the
• 8:05
  campaign trail for Trump. It goes on to say earlier this
• 8:10
  month month Fink warned Trump's trade policies will see a return
• 8:14
  of inflation, dampening expectations the Federal Reserve
• 8:17
  will cut interest rates through 2025 and invoking the specter of
• 8:21
  stagflation characterized by an economic slowdown coupled with
• 8:25
  spiraling price rises. Anyway, so I'm going to open it
• 8:28
  up to the to the panel. This is crazy.
• 8:31
  It, it, it's, it's so nuts. I mean, it's like 2 trains going
• 8:36
  at full speed. And the article like about on
• 8:40
  the verge of colliding with each other reminds me of this article
• 8:43
  by Alex Gladstein called Bitcoin is a Trojan horse for freedom.
• 8:47
  And now what's really interesting about that article
• 8:50
  is essentially Alex Gladstein was making the case back in like
• 8:54
  2021. Like it was a long time ago.
• 8:56
  It was like 2. It was like 3-4 years ago.
• 8:58
  He was making the case that essentially governments,
• 9:03
  institutions wouldn't be able to resist bitcoins number go up
• 9:07
  technology and they want to benefit from it, but at the same
• 9:11
  time they essentially want to disconnect the freedom enabling
• 9:15
  technology from the number go up technology, not realizing that
• 9:19
  both that those technologies are inextricably linked.
• 9:22
  You cannot disconnect the two. So it's just really interesting
• 9:26
  to me. BlackRock is making a fortune
• 9:28
  offering these Bitcoin spot ETFs, but simultaneously they
• 9:33
  see the writing on the wall and they see listen.
• 9:36
  With current US deficit spending, this is unsustainable
• 9:41
  and when people start losing confidence in mass.
• 9:43
  By the way, that is the definition of hyperinflation.
• 9:46
  Hyperinflation doesn't happen because they just print money
• 9:49
  into oblivion. Hyperinflation happens when
• 9:51
  there's this mass consciousness awakening of people losing
• 9:56
  confidence in the currency and they all start to try to get rid
• 9:59
  of it at the same time. That's why, you know, it starts
• 10:02
  to devalue in a, in a very epic and very rapid fashion.
• 10:06
  So I mean, I think everyone's starting to see it, not only in
• 10:09
  the corners of Bitcoin Twitter, not only in the corners of, you
• 10:15
  know, the, the, you know, the economic Twitter now it's
• 10:18
  seeping into mainstream consciousness that the US
• 10:21
  government spending is completely unsustainable.
• 10:25
  And by 20-30, just the interest payments alone like that is
• 10:29
  absolutely nuts. So I agree with Lynn, you know,
• 10:32
  nothing stops this train. But as Senator Lummus pointed
• 10:36
  out, I think she has a really, really good point.
• 10:39
  I think that, you know, the Bitcoin Act could potentially be
• 10:43
  a way to get America's debt under control if the US
• 10:48
  government starts using its money printer to buy something
• 10:51
  that has absolute scarcity. Michael Saylor, when he made his
• 10:56
  presentation for the BPI Summit, he was making space.
• 11:00
  Look, if the US government, you know, buys 5 percent, 10% of the
• 11:04
  Bitcoin supply by 2040, it's going to be able to pay off its
• 11:07
  debt and then some, right? So anyhow, I'm going to open it
• 11:11
  up. Opti, what do you think?
• 11:12
  What are you thinking? Man?
• 11:13
  This is pretty crazy. This is pretty nuts.
• 11:15
  Larry Fink is basically saying, look, if the US keeps going the
• 11:18
  way it's going, Bitcoin is going to become the global reserve
• 11:21
  currency. I mean, he's admitting to it.
• 11:24
  Well, I find it hilarious, you know, for a while that we were
• 11:26
  all talking about like, does Larry Fink actually believe in
• 11:29
  Bitcoin? And now he's bull posting to all
• 11:31
  his shareholders right now. It's like, hey, look, I am not,
• 11:34
  you know, he's basically saying like, I'm not endorsing this
• 11:36
  idea, but this is where it is going.
• 11:38
  And it is kind of incredible that we're seeing Larry Fink say
• 11:41
  basically what all of us bit corners have been saying for a
• 11:43
  long time, that the US debt is getting out of control.
• 11:46
  And part of that is you know that the, the interest payments
• 11:50
  on this debt are about to surpass the money we spend on
• 11:53
  from the military industrial complex.
• 11:55
  Like if you don't understand what that means, that's insane.
• 11:57
  We, we are going to be paying more money on just the interest
• 12:02
  to our debt payments. Then all of the war machine
• 12:05
  that, that we pay, which is still the biggest one in the
• 12:08
  world. Like if you don't understand
• 12:10
  that this is not financially sustainable, I, it's really hard
• 12:13
  for, for me to understand what you're seeing and not seeing
• 12:17
  because look, he's saying what we've been saying for a long,
• 12:19
  long time. the US has a spending problem.
• 12:22
  We have way too much debt, yeah. And there's no way to get out of
• 12:25
  this debt except for either one transitioning to a new system,
• 12:29
  AKA Bitcoin or some kind of debt jubilee and, you know,
• 12:34
  refinancing of this debt hyperinflationary scenario.
• 12:37
  Like one of those is the only way that seems, you know, better
• 12:41
  for US average everyday people. And the other one is probably
• 12:45
  going to be very catastrophic here.
• 12:48
  And I'd much rather see all that wealth going to Bitcoin.
• 12:51
  But you're starting to see that, hey, if Larry Fink is out here
• 12:54
  bull posting or rather doom posting about the debt payments,
• 12:58
  it's probably something you should take notice of.
• 13:00
  And I'm guessing that not only all the BlackRock shareholders,
• 13:04
  but every institutional capital manager right now is looking at
• 13:07
  this report and being like, OK, I need to have as sailors as a
• 13:11
  Bitcoin strategy. Or at the very least, I can't
• 13:14
  just be saying that, oh, this Bitcoin thing isn't going to
• 13:17
  catch on because it's very clearly catching on.
• 13:19
  Though there is something that I do want to talk about that
• 13:22
  wasn't so bullish in my opinion. Larry Fink in this report also
• 13:26
  went down the tokenization of all things in there.
• 13:28
  And that's why he's super bullish on, you know, Bitcoin,
• 13:31
  crypto, block chains, etcetera. You know, just just something to
• 13:34
  keep an eye on. I mean to to give him a get out
• 13:37
  of jail free card, right? Like you know, he is an older
• 13:39
  gentleman and I think most people that get into Bitcoin
• 13:43
  start altcoin in first, right? You know, like all roads
• 13:49
  eventually lead to to Bitcoin. Anyways.
• 13:52
  We do have D in the house. D is from Coin Kite.
• 13:55
  We just recently partnered up with them.
• 13:57
  They make the hardware wallets in the industry.
• 14:00
  I'm holding the Q in my hand, the cold card Q.
• 14:03
  It's absolutely awesome. It's my daily driver, incredibly
• 14:06
  easy to use, has the whole A-Z cube keyboard and stuff.
• 14:10
  It's dope, but it has all the benefits of cold storage.
• 14:13
  Anyways, Dee, thank you so much for joining us today.
• 14:17
  A world are we living in, bro. What the F is going on right?
• 14:21
  6. Ago we thought we were all going
• 14:23
  to prison. Now the president of the United
• 14:26
  States is talking about a strategic Bitcoin reserve.
• 14:28
  Larry Fink is saying, listen, it's inevitable Bitcoin becomes
• 14:32
  the global reserve currency. Like, what world is this?
• 14:36
  I mean, this is all happening. We all knew this was going to
• 14:39
  happen as Bitcoiners, but we had no no idea it was going to
• 14:42
  happen this quickly. D What are your?
• 14:44
  Thoughts. Yeah, yeah, it's ramping up a
• 14:46
  lot quicker than I think a lot of people are anticipating and a
• 14:49
  lot of people are changing their minds about it, right.
• 14:51
  And Bitcoin's definitely that Trojan horse that is going to
• 14:55
  take over the legacy system. They can, they can try and pay
• 14:59
  down the debt with it. I mean, you know, good luck to
• 15:01
  them. But I think in the end, it's not
• 15:04
  going to work. All Fiat currencies die
• 15:07
  eventually and there's only one deflationary currency and that's
• 15:10
  Bitcoin. You know, that's, that's the
• 15:13
  most important part about it. And I, I think, I think people
• 15:16
  really are waking up to that. And even even the big guys,
• 15:19
  right? Obviously, one thing that that I
• 15:22
  really advocate for compared to Larry is self custody.
• 15:26
  And I think it's really important to own your own money
• 15:28
  so that you don't have to ask permission from anyone.
• 15:31
  And, and a lot of people are buying these ETFs, They're
• 15:34
  buying stocks. They're still kind of stuck in
• 15:36
  that Fiat legacy system. It's a, it's, it's a trail like
• 15:40
  it's, you know, they're, they're starting their journey.
• 15:42
  I don't, I don't, I don't, I think it's a good thing that
• 15:46
  they're at least buying or having some exposure to Bitcoin.
• 15:49
  But you know, nothing beats real spot Bitcoin in your own
• 15:53
  custody. And I think people are slowly
• 15:56
  going to realize that either via trial by trial by fire, where
• 16:00
  they get burned and and they say, please give me my Bitcoin
• 16:03
  back and they don't or, or they just figure it on their own
• 16:08
  before that happens. But yeah, Bitcoin's a huge black
• 16:11
  hole. And again, you know, there'll be
• 16:13
  a time when there's no, there's no, there's no Fiat legacy
• 16:19
  system to, to, to value your Bitcoin in.
• 16:21
  It will just be, it will just be Bitcoin.
• 16:24
  It won't be, oh, Bitcoin's worth $956 billion.
• 16:29
  It'll just be, you know, this is how much sats something will
• 16:33
  cost, right? So, yeah, that's kind of my
• 16:35
  initial thoughts there. And I think everyone is waking
• 16:38
  up and it's just, it's just happening a lot faster than I
• 16:41
  think a lot of people anticipate.
• 16:43
  Yeah, 100%. I I also want to focus on
• 16:45
  something you you buried the lead D there, what you were
• 16:48
  saying, which is people, people still not people still have not
• 16:54
  woken up to the power of self custody and the importance of
• 16:57
  self custody. And what I think I've been
• 17:00
  seeing really like these last couple of these last couple like
• 17:05
  6-7 months, and I don't want to name any names, but there's been
• 17:08
  very predominant Bitcoiners that have essentially been like, hey,
• 17:12
  you know what, I'm actually just going to buy the ETF, right?
• 17:17
  And if you talk about the essentially the centralization
• 17:22
  of the custody of all this Bitcoin, it's absurd, right?
• 17:25
  Like if you add up Michael Saylor's stash versus all the
• 17:30
  ETF stash, I think it's only 1 ETFI think it's only Fidelity
• 17:35
  that is actually taking custody. The rest of them have it with
• 17:39
  Coinbase, right? So that is a lot.
• 17:41
  That's a big ass honeypot. That's a very, very big
• 17:46
  honeypot. It's asking for people and it
• 17:48
  creates a lot of other, a lot of other potential problems as
• 17:52
  well. What are they?
• 17:54
  Rehypothecation selling paper Bitcoin, the potential for an
• 17:59
  upcoming 61O2. I mean it's it doesn't take like
• 18:03
  it's just common sense. Like if Larry Fink is basically
• 18:07
  saying, look, the US might default and its current
• 18:11
  trajectory and Bitcoin might take its place. the US
• 18:15
  government has found itself in a very similar position back in
• 18:20
  the 1930s. Like people forget the six one O
• 18:23
  2 order was kind of justified in the eyes of the state because of
• 18:28
  the Great Depression, right? Like a lot of people were
• 18:30
  hurting. So what do you think is going to
• 18:33
  happen if in by 20-30 the US potentially defaults, brings the
• 18:40
  economy down with it and they have a giant honeypot and they
• 18:45
  have a monopoly on violence, They have the power of the
• 18:47
  state. What do you think is going to
• 18:49
  happen to all that Bitcoin, right?
• 18:51
  Like, I mean, there, there is a historical precedent for this.
• 18:54
  Like this isn't just us speculating, us talking about
• 18:57
  it. So I think it's never been as
• 19:00
  important than it is today to really become a sovereign
• 19:04
  individual and learn how to take self custody.
• 19:08
  In the process of learning to take self custody, you, you,
• 19:11
  you, you reclaim your financial sovereignty.
• 19:13
  And unlike gold, that limits what you can do with it because
• 19:17
  of its physical characteristics. Bitcoins physical
• 19:21
  characteristics essentially allow you to theoretically, if
• 19:25
  you're in a pickle, store 1,000,000 billions and trillions
• 19:29
  of dollars in your mind by memorizing 12 words.
• 19:32
  I don't recommend that. Get one of these instead.
• 19:34
  But if you're in a pickle, you know it could it could get you
• 19:38
  out of a pickle, right? It can get you out of a pickle
• 19:40
  opt. And, and I, I do want to add
• 19:42
  something because I did bring up the tokenization of all things.
• 19:44
  And if you don't think that we're just paranoid bitcoiners,
• 19:47
  Larry Fink even said it it himself in this report that part
• 19:51
  of this tokenization of all things, one thing they have to
• 19:53
  figure out is digital identities.
• 19:55
  So you know, the, the, it's coming down the pipeline guys,
• 19:59
  you want to custody your Bitcoin?
• 20:01
  This is the only way, or else we might be in some digital
• 20:04
  dystopia that we really don't. I don't want to be in so
• 20:06
  custody. Your own Bitcoin.
• 20:08
  Take it off the exchanges, hold it yourself in cold storage.
• 20:11
  This is the only way a. 100% Go ahead, Dee.
• 20:14
  No, I was going to say something to add to that too, is some
• 20:17
  people think it's a little complicated to self custody and
• 20:20
  it's new. It's, it's, it's like learning,
• 20:23
  maybe not learning a new language, but it's like learning
• 20:25
  how to drive, right? You don't just jump on the
• 20:28
  freeway immediately after you hit you get in the car.
• 20:31
  No, you go in some back roads with your parents and you help
• 20:34
  people or you, you get someone to help you and teach you or you
• 20:38
  go to YouTube and you go to BTC sessions and he can help you,
• 20:41
  right? You can, you can use $5 worth of
• 20:44
  Bitcoin and just learn how to send and receive your Bitcoin
• 20:48
  before, before putting hundreds, thousands, millions of dollars
• 20:52
  on these devices, right? It's, it seems complicated at
• 20:55
  1st and it's scary just like a lot of things.
• 20:58
  But it's, you know, Bitcoin is like a responsibility go up
• 21:01
  technology, I like to say. And you really got to learn and
• 21:05
  take the time to, to, to understand what you're doing,
• 21:08
  right. Obviously, if you, like I said,
• 21:11
  you just get in a car and you hop on the freeway, yeah, you,
• 21:13
  maybe you get in an accident, right?
• 21:15
  But if you, you go on some back roads or you, you go in a
• 21:18
  private, private driveway, you know, like, like you, you, you
• 21:22
  take it one step at a time. You, you don't put all your
• 21:25
  funds in at once. And, and you learn, right?
• 21:28
  You, you learn how to use these devices and learn how to take
• 21:31
  self sovereignty seriously. So you know, it, it's just one
• 21:34
  step at a time. And I think people just miss
• 21:37
  that and then they get overwhelmed and then they're
• 21:40
  like, no, I'm just going to buy the ETF instead because I don't
• 21:43
  know how to do this right. So I think everyone can do it.
• 21:46
  Everyone can learn and it just takes time, you know, do an
• 21:50
  hour's worth of research, take, take another hour, whatever it
• 21:53
  takes. It's, it's, it's it just learn
• 21:56
  at your own pace and, and, and you'll get there, right?
• 21:59
  We were all, we were all noobs. We were all there at one point
• 22:03
  and and now we're here. We've learned and we've now
• 22:06
  we're here helping other people, right?
• 22:07
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  But before we get into all that, and we have a jam packed show
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  for you guys as well, Sailor continues to try to buy all the
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  corn stocked, bought 22,000, Bitcoin 22,000 and he spent like
• 22:40
  $2 billion or something like that.
• 22:41
  Absolutely crazy. Elon Musk said the quiet part
• 22:45
  out loud talking about shifting the Overton window.
• 22:48
  Elon has said and the in bed words are his, not mine.
• 22:52
  So we have the clip of that for you guys.
• 22:54
  We're going to be discussing it and then we're going to be
• 22:55
  talking about this current cycle.
• 22:58
  I think what's on everybody's mind, if you compare 20/21/2017
• 23:03
  2013 right now, we should be at $200,000 per coin or we should
• 23:08
  be at $150,000 per coin. I don't know what's going on.
• 23:11
  I don't know what's happening. So we're going to be talking
• 23:13
  about all of those things guys, it's going to be a jam packed
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• 23:17
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  today all right everybody, we are back.
• 26:52
  I do want to give a shout out to the live stream 1000 live
• 26:55
  viewers across all platforms almost 5 and I think we already
• 26:58
  broke 500 live viewers on YouTube alone and of course,
• 27:01
  shout out to the most hardcore audience in the world, the
• 27:04
  rumble chat absolutely crapping on me and Opti every single
• 27:08
  episode. You guys are enjoying the show
• 27:10
  so far. Make sure to smash that like
• 27:13
  button. I believe on YouTube we already
• 27:14
  broke 100 likes. Yes, we're at 120 likes on
• 27:16
  YouTube. Help us break 200 likes by the
• 27:21
  end of today's show 250 likes so smash that like button The 500
• 27:25
  you guys that are watching live on YouTube really really helps
• 27:28
  with the algos and pushing this message forward At the time of
• 27:31
  recording the Bitcoin price is 83,000 optic.
• 27:33
  Can you put up my volume $83,300 block height 890,280 sats per
• 27:40
  dollar 1200 market cap 1.65 trillion Bitcoin versus gold
• 27:44
  market cap 7.52% percentage issued 94.49% decline from all
• 27:50
  all time high -23.7%. If you're buying Bitcoin right
• 27:54
  now, you're getting a 23% discount.
• 27:58
  When Bitcoin reached all time highs in January, the SPR wasn't
• 28:02
  true. It wasn't happening right.
• 28:04
  We peaked at 109,000 and the SPR was just a rumor It was a
• 28:09
  speculation, but it wasn't real realized monetary inflation
• 28:13
  .89%. I remember when me and Opti
• 28:16
  started covering that number. It wasn't like the two or three.
• 28:18
  It's crazy, right? And it's going to go down
• 28:21
  forever. Anyhow.
• 28:23
  There is a video of Elon Musk. I believe he is, he's he's
• 28:27
  campaigning right now. There's a very important
• 28:30
  election that's happening in Wisconsin to determine which
• 28:34
  judge is it going to be a conservative judge or liberal
• 28:37
  judge that's going to be on the Supreme Court in Wisconsin.
• 28:41
  And Elon is essentially campaigning over there.
• 28:44
  He's like offering people like $1,000,000 if they just vote and
• 28:47
  etcetera. But someone in the crowd asked
• 28:51
  him something, which was really interesting.
• 28:54
  And we've been making the case for you guys for a long time now
• 28:57
  about the importance of the Overton window and how all roads
• 29:01
  lead to Bitcoin, all roads lead to the Federal Reserve.
• 29:04
  Like if if you were to just start asking questions like, why
• 29:08
  is this happening in society? Why are things getting more
• 29:11
  expensive? Why is why is the why is the
• 29:13
  moral of moral decay of society happening?
• 29:16
  If you look for the root cause of all that it is broken money,
• 29:21
  it is inflation. And if and if you want to see
• 29:24
  what is the cause? Where is this coming from?
• 29:26
  It's coming from the central banks.
• 29:27
  It's coming from the Federal Reserve.
• 29:29
  What the F happened in 1971? What happened in 1913?
• 29:33
  Why was the income tax established the same year that
• 29:36
  the central bank established? Why was all are the all these
• 29:39
  things coincidences? People are awakening, people are
• 29:42
  coming to that realization and that Overton window is shifting.
• 29:45
  That's why you see them talking about Fort Knox.
• 29:48
  That's why you see them talking about the Federal Reserve.
• 29:51
  This is great because 10 years from now, right, that political
• 29:55
  momentum that I've, I've told you guys this quote multiple
• 29:59
  times, right, That politics is downstream from culture.
• 30:02
  It will be mainstream. Like the the whole idea of
• 30:05
  questioning the Federal Reserve, it won't be on the hinges.
• 30:08
  They will be in the mainstream. People will be like, you know,
• 30:11
  there's something wrong here. I'm hurting.
• 30:13
  How come I'm not wealthier than my parents?
• 30:15
  Society as a whole has gotten wealthier.
• 30:17
  But why? Why can't I get ahead?
• 30:19
  What's going on here? Anyhow, I have a clip for you
• 30:21
  guys. Let's play it and then we'll
• 30:22
  talk about it. Half of America for the idiots
• 30:26
  you have to deal with for what you're doing for us to improve
• 30:28
  our country. Second of all, my question is
• 30:31
  what is your opinion on the Federal Reserve and do you have
• 30:35
  any intentions of doing anything with them and the Fed?
• 30:44
  Yeah, I don't know. I always wanted to say that, you
• 30:47
  know, but, but I mean, I think that's like 20,000 people that
• 30:51
  work at the Fed seems pretty high.
• 30:53
  In fact, there's a lot of people who work with the Fed on us
• 30:55
  things like why do we have so many people at this at the Fed
• 30:58
  and what do they do? And you know, sometimes I wonder
• 31:03
  which one would win, you know, the federal for interest rates,
• 31:07
  the, the federal, the board of the Federal Reserve or a Magic 8
• 31:11
  ball. And I'm like, I think the Magic
• 31:14
  8 ball might win, you know, So then I'm like, well, Magic 8
• 31:19
  ball is a lot cheaper. So, you know, it's like you
• 31:24
  shake it, it says check back again later.
• 31:26
  I'm like, OK, same thing. But, but I think we, we, we, we,
• 31:35
  we, what really matters is that the government spending is, is
• 31:43
  not far in excess of government revenue.
• 31:46
  That's a fundamental issue that we have where the, we have a, a
• 31:50
  deficit of $2 trillion and we have interest payments that now
• 31:54
  exceed the entire budget of the military.
• 31:58
  In fact, that that was a big wake up call for me was when
• 32:01
  the, the amount of money that we're paying national debt
• 32:04
  interest exceeded the Defense Department budget.
• 32:07
  I'm like, Defense Department budget is very big and interest
• 32:10
  is higher than that and, and, and climbing.
• 32:14
  That's a disaster, you know, So the, the very simple,
• 32:18
  straightforward goal of, of the doge team is to get rid of waste
• 32:23
  and forward it's, it's mostly waste.
• 32:24
  It's it's or depending on how you know, I'd say it's probably
• 32:27
  80% waste 20%. So again, what you're seeing is
• 32:34
  the Overton window shifting, right?
• 32:36
  The acceptable window of discourse.
• 32:37
  It's shifting. People are asking the question.
• 32:40
  It's interesting too, because Elon, he didn't say it directly,
• 32:44
  right? But he somehow connected,
• 32:48
  someone asked him what are you going to do about the Federal
• 32:50
  Reserve? And somehow that ended up being
• 32:52
  a pitch towards doge and the wasteful spending, right?
• 32:57
  So why is the government able to essentially deficit spend in the
• 33:02
  1st place? Because it's able to print
• 33:04
  money, right? That that's the root cause.
• 33:08
  And essentially, even if Elon does what he aims to do and cuts
• 33:14
  the deficit, we're just one popularity contest away from all
• 33:18
  of that being reversed. The root problem here is not the
• 33:24
  irresponsibility of government. The root problem is the
• 33:29
  government's ability to create money out of thin air that the
• 33:32
  rest of us have to work for. That's the root problem.
• 33:35
  No one should have that power. And we didn't sign up for that.
• 33:38
  We didn't agree to that, so we have to end that.
• 33:43
  And by the way, this has not been around for a very long
• 33:47
  time. This has only been around the
• 33:49
  United States since 1971. That's when the Fiat money
• 33:52
  experiment started. But this problem has been
• 33:56
  happening since like the Roman times.
• 33:58
  In the Roman era is essentially in the beginning of the the
• 34:02
  Roman Republic before it transitioned to an empire.
• 34:06
  If you see the amount of silver per coin, it was called the Lake
• 34:10
  Dinaris or something. It was like a very high
• 34:12
  percentage. At the end of the Roman Empire,
• 34:16
  the percentage was like .00000 something.
• 34:19
  You can make a very strong case that one of the reasons as to
• 34:24
  why the Roman Empire fell and degraded the way it did was that
• 34:28
  they inflated the money supply, just like is happening here in
• 34:32
  the United States. The only fundamental difference
• 34:35
  I think is that now we have the ability to pivot as a society,
• 34:41
  as an individual. It's mostly as an individual.
• 34:43
  We have the ability to pivot as individuals to sound money that
• 34:48
  nobody can debase. You cannot change the monetary
• 34:51
  policy of Bitcoin. It protects you and I would say
• 34:54
  it protects you from the collective was very strong, but
• 34:57
  I'm going to say it. So, yeah, I mean, it's very
• 35:00
  interesting. And then just connect what Elon
• 35:02
  was saying with what we were talking about during the intro
• 35:06
  about what Larry Fink was admitting about the United
• 35:08
  States, like unsustainable fiscal trajectory.
• 35:12
  Elon was just talking about it just now about like just the
• 35:16
  interest alone that we're paying on a yearly basis, the United
• 35:20
  States is paying on a yearly basis is actually outpacing the
• 35:24
  amount of money that's spent on the military, right?
• 35:27
  So just connect the dots. All the dots are there for you
• 35:30
  to be connected. I guess we're connecting the
• 35:32
  dots for everybody. I don't know, Opti, what do you
• 35:34
  think? This is nuts, bro.
• 35:36
  This is crazy. He's saying and the Fed and when
• 35:38
  he when he was asked about the Fed, it was a pitch on
• 35:43
  unsustainable spending and it was a pitch on doge.
• 35:45
  Do you think Elon knows? Do you think Elon knows?
• 35:50
  He definitely knows and and like going further, like he
• 35:53
  definitely knows how or what the solution to all this is.
• 35:57
  We all know Tesla still holds Bitcoin like I think he is.
• 36:00
  He's he's playing very coy right now.
• 36:02
  I think with as as everyone in the chat is trolling us, say
• 36:06
  Overton window one more time, Nico.
• 36:08
  He's playing very coy with the what?
• 36:10
  You should put me on the like a sound board over to the window.
• 36:14
  Well, it's interesting and like guys, you, you know, I've been
• 36:18
  pretty critical of MUSS for the last couple of weeks, but there
• 36:21
  is a lot of things that I do like MUSS doing right now.
• 36:24
  Obviously eliminating weights with Doge is great if Doge
• 36:28
  somehow is capable. I don't, I don't know the
• 36:30
  technicalities of politics here, but if Doge is somehow able to
• 36:33
  end the Fed, Yeah. So.
• 36:37
  They're going to need Congress, man, and there, there's no way
• 36:40
  there's that. Yep, it's an amendment, I
• 36:42
  believe, and I might be wrong here, but like it's incredibly
• 36:45
  difficult to to just reverse that man.
• 36:49
  They're going to have a difficult time.
• 36:50
  It's going to be a hard cookie. Well, as long as Musk continues
• 36:54
  to shift the Overton window here and talk about ending the Fed
• 36:59
  and it's kind of getting out of our echo chambers of just being,
• 37:02
  you know, like a Ron Paul libertarian thing.
• 37:04
  And now we're seeing it's kind of coming out from, you know,
• 37:07
  some people might argue that Musk is the shadow president
• 37:10
  here. So now it's officially coming
• 37:11
  out of the Trump administration that they want to end the Fed.
• 37:15
  I'm kind of OK with this. I I kind of like this kind of
• 37:17
  rhetoric here. Yeah.
• 37:20
  Anyhow, I'm going to pass it on to Dee.
• 37:22
  Dee Dee's a bitcoiner, so Dee knows these things.
• 37:25
  He's thought about these things. Dee, what are your thoughts on
• 37:28
  this man? It, it, it does.
• 37:30
  My question to you is, does Elon know?
• 37:33
  Does Elon? Because it's interesting that
• 37:35
  what are you going to do about the Fed?
• 37:37
  And then he ends up talking about irresponsible, you know,
• 37:41
  deficit spending and he ends up pitching doge.
• 37:43
  So like in his mind, there must have been some type of
• 37:46
  connection to end up there when you're asked the question about
• 37:51
  the Fed. Dee, what are your thoughts?
• 37:53
  Yeah, Yeah, I think Elon is secretly in the know, right, As
• 37:57
  a lot of people are and nation States and, and, and people that
• 38:00
  want to accumulate for cheap. He loves to meme, he loves to
• 38:05
  divert or, you know, deflect in a way.
• 38:09
  Doge is even named after that that shit coin, right.
• 38:12
  So I think he knows, right? I think, I think he's aware and,
• 38:17
  and he's accumulating either personally or, or whatever.
• 38:21
  And, and that's what they want, right?
• 38:22
  They want you not to know so that they can accumulate more
• 38:25
  for themselves. That's kind of the the
• 38:28
  interesting thing about Bitcoin and these big, these big
• 38:32
  billionaires, because they want, they know what, what the future
• 38:36
  looks like. And they know that if they start
• 38:38
  tweeting about it or talking about it frequently, more people
• 38:42
  are gonna think about it, talk about it, buy it and, you know,
• 38:46
  number go up, right. So it's, it's kind of like
• 38:49
  they're trying to delay it potentially where they want to
• 38:52
  accumulate a lot. They want to take that time.
• 38:54
  They want a few years to, to get their coffers full and then
• 38:58
  they'll talk about it. And then they'll start going on
• 39:01
  campaigns about Bitcoin and, and sound money and then the Fed
• 39:04
  and, and, and what the solutions are, right?
• 39:07
  That's kind of my, my stance there.
• 39:09
  I mean, obviously, I don't know for certain, right?
• 39:11
  It's just a hunch, but I think a lot of people are and, and a lot
• 39:15
  of influential people are accumulating.
• 39:18
  They just don't want to talk about it because they want more
• 39:20
  a. 100% I I 100% agree with that take.
• 39:24
  Anyways, I do like what Opti did on the Friday show with the
• 39:27
  change up. I I I like the whole culture
• 39:30
  news bit. What do you think, Opti?
• 39:33
  I don't know. Our numbers are doing pretty
• 39:35
  good right now. I wanna, I wanna, I wanna, I
• 39:37
  wanna do that. Let, let's let we're going to
• 39:38
  change it up a little bit. We're going to be talking about
• 39:41
  the cold card self custody. And then towards the end of the
• 39:45
  show, we're going to be talking, we're going to be comparing the
• 39:47
  different cycles, like kind of just having a discussion on
• 39:51
  that. What Bitcoin's four year CAGAR
• 39:55
  is at historic lows, which I find interesting and quick
• 39:58
  updates. Eric Trump, this, the President
• 40:02
  Trump's president has joined it. They're part, they're going to
• 40:06
  partner with HUD 8. I believe HUD 8 is a publicly
• 40:08
  traded Bitcoin miner, which I find interesting.
• 40:12
  A MicroStrategy continues to prove that you know they're
• 40:15
  essentially beating everyone because of their Bitcoin
• 40:17
  strategy so we're going to be talking it's going to be an
• 40:20
  interesting discussion during the news segment but first we're
• 40:23
  going to be talking about all things coin kite, all things
• 40:26
  cold card, the importance of self custody during the culture
• 40:29
  segment. So I'm going to change it up
• 40:31
  because Opti changed it up on Friday and I liked how that was.
• 40:33
  There's a little bit of a change up.
• 40:34
  We're going to be doing this from now on.
• 40:36
  We're going to be doing news culture, just add more dynamism
• 40:40
  to today's show. So lots of content, lots of
• 40:43
  stuff to get to. But before we jump into it, I
• 40:46
  want to give a shout out to the live stream.
• 40:48
  Shout out to the more than 1000 of you guys watching live
• 40:52
  between YouTube and X, and shout out to the almost 100 of you
• 40:55
  guys watching live on Rumble. If you guys are enjoying the
• 40:57
  show so far, make sure to smash that like button on YouTube.
• 41:01
  There's 165 likes, help us break 200 likes and then 250 likes.
• 41:05
  So guys smash that like button. We will be right back.
• 41:09
  We're going to hit the culture segment.
• 41:12
  I want to give a shout out to our partner Hive Digital
• 41:15
  Technologies. As the first ever public miner,
• 41:18
  Hive's position to quadruple their global footprint in 2025
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  and as the first with an AI strategy, Hive continues to make
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  moves in sustainable high performance computing.
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  They consistently topped the industry in Bitcoin mine, per
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  Exahash, and now they're headquartered in the USA.
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  They're lean and mean, they're green and clean, and they're
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  changing the game. You can catch the latest buzz by
• 41:47
  following them at Hive Digital Tech or check out their website
• 41:51
  at Hive digitaltech.com. I want to give a shout out to
• 42:05
  our partner coin kite. If you take your Bitcoin
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  security seriously, you'll need the best Bitcoin hardware wallet
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• 42:57
  Bitcoiners. Secure your Bitcoin the right
• 43:00
  way with the Cold Card queue and the MK4.
• 43:03
  Head over to coldcard.com today and use promo code simply to get
• 43:08
  5% off anything on the store. All right, everybody in my hand,
• 43:14
  I'm holding the cold card queue. Like I said, incredibly easy to
• 43:18
  use, but it doesn't sacrifice security in the process.
• 43:21
  Completely open source has secure elements.
• 43:25
  We're going to be asking the all these questions in about a
• 43:27
  second or so. Scan the QR code on your screen.
• 43:30
  Right now you get 5% off anything on the Coin Kite store.
• 43:35
  Head over to coinkite.com today, use our link in the video
• 43:38
  description scan the QR code. Anyways, I do want to bring up D
• 43:42
  back on stage. So D mean super excited to
• 43:46
  partner up with you guys been a big fan of a coinkite for a
• 43:49
  while now. You guys have two main hardware
• 43:52
  wallets. Big big fan of both.
• 43:54
  You have the MK4 and the the cold card queue right?
• 43:58
  The cold card queue again. Hey, don't forget the open
• 44:02
  Dimes. The open Dimes are dope.
• 44:04
  The block clock is dope. I have AI, have AI have a block
• 44:07
  clock. But yeah, go, go to the block
• 44:10
  clock because the block clock is super cool.
• 44:12
  Yeah. So yes, a lot of products, but I
• 44:15
  I think everyone should have a block clock in their homes.
• 44:19
  I think it's like a rite of passage as a bitcoiner at this
• 44:21
  point. And essentially what it is, it's
• 44:23
  just it's a physical device, right?
• 44:25
  Look, it's pretty it's like this size and essentially it changes
• 44:30
  with if the if the block you could set it, it's customizable,
• 44:35
  right? So if you know the price of
• 44:38
  Bitcoin goes up, you know, show you the latest price of Bitcoin
• 44:41
  should just show you the latest, you know, SAT's per dollar or
• 44:43
  Moscow time, the market cap block high, anything you want,
• 44:48
  you could put it there. It's customizable.
• 44:50
  It's about this size. And I was so curious too, Dee,
• 44:54
  what would happen to the block clock when we went over 100K And
• 44:58
  essentially, yeah, I think you guys just got rid of the dollar
• 45:01
  and it was just like, it was like 100.
• 45:02
  That's right. What are you guys gonna do when
• 45:04
  it goes to like a million? You gotta buy a new one.
• 45:07
  You gotta buy a new one. You guys gotta make.
• 45:09
  An extended block clock. Well, something that you can
• 45:11
  also look into is, you know, we have other currencies besides
• 45:15
  the dollar on there, right? So check it out in in Japanese
• 45:19
  yen or, or or something like that that have a higher
• 45:22
  denomination and and you'll find out, right.
• 45:24
  So OK, that's right. Yeah, it's not just U.S. dollar.
• 45:27
  So, yeah, I think those are really cool.
• 45:30
  Obviously those aren't our our security cold storage device.
• 45:35
  It's more of a fun Bitcoin product that you can display all
• 45:40
  your all your units of whatever you want to want to display on
• 45:43
  there. All the currencies or yes, the
• 45:45
  Bitcoin price, whatever currency you want, block height, things
• 45:50
  like that, we also offer. Yeah, go ahead.
• 45:52
  So let's talk about, let's talk about the two hardware wallets
• 45:55
  that you guys offer, right? It was the Q and the MK4.
• 45:59
  What are the difference between the two?
• 46:02
  Yeah, for sure. So they both have the same
• 46:04
  security, meaning that they both have two secure elements that
• 46:07
  basically keep everyone out. You basically they're basically
• 46:11
  impenetrable. These two secure elements are
• 46:14
  from two different manufacturers as well as our MCU board.
• 46:18
  That's what you'd have to breakthrough basically 3 layers
• 46:20
  to even try and crack the pin to get into the device.
• 46:24
  And the the differences are the Q is kind of an upgraded version
• 46:27
  where it has that, that that full QWERTY keyboard, it has AQR
• 46:32
  code scanner, it has, you know, upgraded NFC, things like that.
• 46:37
  So both devices are fantastic and highly recommend both.
• 46:41
  You know, I sometimes like the MK4 because it's a little
• 46:43
  slimmer. It can fit in your pocket.
• 46:45
  It's not as bulky, right? The queue has that QR function
• 46:49
  where you can scan nunchuck or or Sparrow to assign a
• 46:52
  transaction and then you can show it to your show it to your
• 46:57
  screen. And then basically import that
• 46:59
  PSBT, which is a partially signed Bitcoin transaction and
• 47:02
  broadcast that if you want. There's just plenty of options
• 47:05
  and just more of an upgraded MK4 same security.
• 47:09
  So nothing like that where Oh no, I I need to upgrade because
• 47:13
  I I want better security. Still same security, still a
• 47:17
  rock solid castle to to store your Bitcoin.
• 47:20
  So let's talk about the so OK, so you mention a lot of things
• 47:25
  there, right. So let's try to pack them.
• 47:29
  So can you talk, can you talk to us a little bit about what, what
• 47:32
  do you mean about the secure element?
• 47:34
  So you have two different manufacturers.
• 47:36
  What does that mean? Yeah.
• 47:38
  And then why? Why should?
• 47:39
  Why should someone like what, what is the purpose of buying
• 47:42
  this? Right, right.
• 47:43
  Like like you, let's say you have Bitcoin, let's say you have
• 47:46
  it on exchange, like why should you buy?
• 47:49
  You know, why should you spend a couple $100 on, you know, on MQ
• 47:54
  or an MK4? Of course, yes.
• 47:56
  So basically a hardware wallet or a cold card Q or MK4 is like
• 48:00
  a Swiss bank account in your pocket.
• 48:02
  It has military grade security where basically you cannot get
• 48:07
  into this device, you know, like it, it the, the, the, the reason
• 48:12
  why you want something that someone can't get into is so
• 48:15
  that you, you can't be hacked or you can't have your funds
• 48:18
  stolen, obviously. So having the, the top, top of
• 48:22
  the line secure elements helps you do that.
• 48:24
  Think of it like a, a black box or like a labyrinth where
• 48:28
  there's a a billion paths and you have to figure out how to
• 48:31
  get through that labyrinth to, to infiltrate that device.
• 48:34
  These, these, these secure elements help you do that.
• 48:37
  And the fact that there's two from two different manufacturers
• 48:41
  aids in that, where instead of just one, you need to
• 48:44
  breakthrough 2 plus the MCU. So basically just stacking
• 48:49
  security on top of each other, making sure that your Bitcoin is
• 48:52
  is as secure as possible. Gotcha.
• 48:54
  And then let me ask you something else too, right?
• 48:56
  So, OK, so there's a bunch of different ways to sign a
• 49:01
  transaction with these, right? There's the the SD card, there's
• 49:07
  the QR signer, which I think is some one of the easiest in my
• 49:12
  opinion. Then there's NFC which is
• 49:14
  essentially tap. If you guys have ever gone to
• 49:16
  like proof of stale proof. If you ever like a 711, you're
• 49:21
  trying to pay for something and you want your iPhone, Apple,
• 49:24
  that's NFC. And then there's the USBC.
• 49:29
  If I sign a transaction using USBC, is that insecure?
• 49:34
  So I would say it's still very secure, but it is less secure,
• 49:37
  right. So think of it like the USB
• 49:39
  stack has more vulnerabilities to it.
• 49:42
  If you, if you sign something via USB, it's not the end of the
• 49:45
  world. But it is less secure than
• 49:48
  scanning AQR code, right? You, you wanna be able to read
• 49:51
  what you're signing and by by scanning AQR code or, or, or
• 49:56
  importing it via SD card, you know exactly what you're
• 49:59
  signing. And even on the queue screen and
• 50:02
  even on the MK4 screen before you sign anything, it says where
• 50:06
  is where are you sending this Bitcoin to?
• 50:08
  Here's the address. How much are you sending and
• 50:11
  what's the fee rate and the change address and all those
• 50:14
  things. So that shows up on a screen and
• 50:17
  on the cold card screen so that you're, so that you're ensuring
• 50:21
  that you're signing what you want to sign, right.
• 50:24
  If it says, hey, I'm signing all your Bitcoin away to this random
• 50:27
  address that I don't know, then hey, maybe I'm not going to sign
• 50:31
  that message, right? So it's really.
• 50:33
  Important to have that. What are the vulnerabilities
• 50:35
  with like USBC signing? Because I feel like that is like
• 50:39
  the, the majority of people are using a hardware wallet, right?
• 50:43
  They're not using SD cards, they're not using NFC, they're
• 50:46
  not using, they're using USB, like USB whatever to plug in
• 50:50
  their hardware wallet. Like what are the
• 50:52
  vulnerabilities there? Is it a vulnerability on the
• 50:55
  device itself? If you plug in the device into a
• 50:59
  computer, is that potential like the computer?
• 51:01
  Is it uploading malware into device?
• 51:03
  What are the actual vulnerabilities there?
• 51:06
  Yeah, it's more like, say your computer was compromised and you
• 51:09
  now have a direct, Direct Line between you and your offline
• 51:14
  device, right? We have a we have a, a, a saying
• 51:17
  or a phrase called air gaps in, in in Bitcoin where you do not
• 51:24
  want a Direct Line like that connecting your device to your
• 51:27
  computer. It's not like the device will
• 51:29
  actually ever give up any important information.
• 51:33
  There's no been no evidence of that ever.
• 51:35
  But in the future that could possibly be a thing, right?
• 51:39
  Security is a moving goal post and there are consistent
• 51:42
  upgrades and malicious things that people do to computers and
• 51:47
  devices to grab what they want, which is your Bitcoin.
• 51:51
  So having having that layer or that defense of of air gaps
• 51:55
  where you don't have a direct connection into your computer is
• 51:59
  extremely important just to kind of future, future proof
• 52:02
  yourself, right? It's not that you will get
• 52:05
  hacked or that will happen, but just just being prepared is is
• 52:09
  always better than than not right?
• 52:11
  Gotcha. And what differentiates yourself
• 52:14
  compared to other hardware wallet manufacturers?
• 52:18
  Like why should people trust you guys?
• 52:20
  Like why? Why should people get a cold
• 52:22
  card compared to, you know, all the other manufacturers that are
• 52:26
  out there? Yeah, we, we have a saying that
• 52:30
  don't trust verify. So you don't need to trust us,
• 52:32
  right. We, we give you the device with
• 52:35
  an upgrade or two out of date so that you yourself can verify
• 52:39
  your the firmware yourself before flashing it to the latest
• 52:42
  upgrade. There's also the, the, the
• 52:45
  secure elements and the hardware is all online on GitHub for you
• 52:51
  to view fully auditable for the end customer so that you can
• 52:55
  make sure that what you're running on your device is is
• 52:58
  actually what we say is running on it, right?
• 53:01
  And again, you can upgrade it yourself.
• 53:03
  We don't push any upgrades by ourselves.
• 53:06
  You are the one that will do that because we don't we don't
• 53:10
  want to push a malicious upgrade on you.
• 53:12
  There's been evidence of other companies that have done that
• 53:15
  and it's not good, right? We also have a lot of feature
• 53:19
  rich things on a device like trick pins, like those anti
• 53:23
  phishing words. So when you when you sign into
• 53:25
  your device, it will say 2 anti phishing words and if those
• 53:29
  those words are incorrect, you know that your device has been
• 53:32
  tampered with and that you do not, you should not log into
• 53:34
  that device. You know, we have our two secure
• 53:37
  elements rather than one. Things like that.
• 53:40
  Those are what's really important.
• 53:41
  Even our device itself is fully transparent, right?
• 53:44
  You can see exactly on the device, what's what's, what
• 53:47
  components it's made out of. There's no, there's no chip out
• 53:51
  of place. There's no, there's nothing like
• 53:52
  that. And if there was, you'd know.
• 53:55
  So that's kind of really important.
• 53:56
  And yeah, full of advanced features like brick me pins.
• 54:01
  A brick me pin is basically like if, if you have some, if you, if
• 54:03
  a guy has a gun to your head and you don't want to, to let them
• 54:06
  in, you can put in a different pin and completely brick the
• 54:09
  device and render it useless. You know that that's a, that's a
• 54:13
  advanced feature of our device. And we recommend, you know,
• 54:16
  leaning into that slowly. But those are just some of the
• 54:20
  the many things that we offer. Yeah, And then also I I want to
• 54:23
  talk about this too, right. You mentioned that that it was
• 54:26
  transparent. I'm gonna make myself full
• 54:27
  screen. So this is a back on the back.
• 54:31
  It has a little thing that says shoot here.
• 54:34
  What is that D? Yeah, yeah, that.
• 54:37
  So that shoot here is those are the two secure elements.
• 54:40
  So if you ever want to dispose of a device of a device
• 54:44
  properly, you can either shoot them with a gun or you can hold
• 54:47
  on. Hold on, we're on YouTube for
• 54:50
  sure. Metaphorically.
• 54:51
  Metaphorically Metaphorically Metaphorically metaphorically.
• 54:55
  Yes, Metaphorically self-defense.
• 54:58
  That's right. That's right, because you're.
• 55:00
  One of the danger metaphors, Yes.
• 55:02
  Apologies. You can use, you can use a
• 55:06
  drill, right? You can use a drill and drill
• 55:08
  into those secure elements so that your seed and everything
• 55:12
  that is important is, is totally lost.
• 55:15
  There's no way to recover that. And hopefully you have a backup
• 55:19
  in a totally different location, you know, really far away,
• 55:23
  right? So, so it's really important
• 55:25
  that we, we put that there and, and so that people know how to
• 55:28
  dispose of these devices properly.
• 55:30
  Yeah, 'cause you could toss out your, your hardware wallet and
• 55:33
  three years later you're like, what happened?
• 55:35
  Like, how did I, how did I lose money?
• 55:38
  And it's, it's because someone may have picked that up in the
• 55:40
  trash and maybe it didn't have a secure element on it or it had a
• 55:44
  weak one. And, and they got into, into
• 55:47
  your device and, and took your seed seed phrase, right.
• 55:49
  Your seed phrase is the most important thing and you really
• 55:54
  need to keep care of that and and this is one way to do it, by
• 55:57
  drilling into those secure elements so that the seed phrase
• 55:59
  is completely white from the device.
• 56:01
  Absolutely, Absolutely. Hey, Nico, I got one.
• 56:04
  This might be the the way to end this and go back into some
• 56:07
  bullish news here. But we have a great comment in
• 56:10
  the chat and I think this is one of the things we see constantly
• 56:13
  with people. So I don't want to put you on
• 56:15
  blast because it looks like it's your full name, but someone in
• 56:18
  the chat said I still need to do myself custody.
• 56:21
  I have my Bitcoin on multiple changes so I think we need to
• 56:24
  just go back to basics. Why do people need to have a
• 56:28
  hardware device or basically get their Bitcoin off exchanges into
• 56:32
  self custody? Absolutely, Yeah.
• 56:34
  I mean, the first sentence of the Bitcoin white paper is a
• 56:37
  peer-to-peer electronic cash without financial institutions,
• 56:42
  right? So if you're holding your, your
• 56:45
  Bitcoin with a financial institution, you are still kind
• 56:49
  of stuck in the legacy system where you have to ask everyone
• 56:53
  or them permission to, to move your money.
• 56:56
  If you go to a bank and ask to move it or, or to withdraw, you
• 57:01
  know, $20,000, they're going to say, what the heck?
• 57:03
  What do you need that for? Why?
• 57:05
  And they're going to, they're going to KYC you up the ass and
• 57:07
  it's going to suck. So if you don't want to ask
• 57:11
  permission and you want to take custody of your own money and
• 57:15
  move it yourself and never have to ask permission, it's it's
• 57:18
  really important for you to self custody and and cold card can
• 57:22
  help you do that. Amazing, love that, love that
• 57:25
  guys. Go to check the link in the
• 57:27
  video description or scan the QR code on your screen.
• 57:31
  Remember, not your keys, not your cheese.
• 57:32
  Get yourself a cold card queue or the MK4.
• 57:36
  Big fan of both love these hardware wallets.
• 57:39
  Use them personally. Yeah, go check them out, guys.
• 57:42
  And of course, get yourself a block clock.
• 57:46
  I think every every bitcoiners should have one at least you'll
• 57:49
  start to notice that. Not at home right now.
• 57:51
  We're in Dallas for a bit. Block boom.
• 57:53
  We're going to be here for the rest of the week, but one more
• 57:56
  in the back. Go ahead.
• 57:58
  One more thing someone asked, you know how, how do you know
• 58:00
  that my private key isn't or my seed words aren't like pre
• 58:03
  generated, right? And you can actually go on on
• 58:06
  our devices and we offer this thing called dice rolls where
• 58:10
  you can roll dice and you can enter in all the all the inputs.
• 58:14
  You know, you roll it 99 times to get 256 bits of entropy.
• 58:18
  I know big words, but that's what you need to create a 12 or
• 58:21
  24 word seed. And you can do that on both
• 58:25
  devices, right? If you had two devices side by
• 58:27
  side and you entered in the exact same inputs from those
• 58:31
  dice, you would get the exact same seed words.
• 58:34
  And that's really important because if you didn't, then
• 58:37
  you'd have a pre generated seed. So I think that's a really cool
• 58:41
  way for people at home that may may not be super technical and
• 58:45
  they can't really audit the entire firmware for themselves
• 58:47
  and, and, and, and they have to quote UN quote, trust a little
• 58:51
  bit more. They can do that seed or they
• 58:54
  can do the dice roll function on two devices and see, oh wow, I
• 58:57
  get the same seeds on both devices.
• 59:00
  I think that's a really cool, cool way to verify.
• 59:03
  Absolutely. And then also to you guys like
• 59:05
  you can like what what I personally do to generate a
• 59:08
  because I'm a paranoid mother effer because I've been in
• 59:11
  Bitcoin for a long time. I literally have all 2000
• 59:14
  something words and I literally put like scramble them, put them
• 59:18
  in a pot and mix them manually and just pick out one word by
• 59:23
  one and then put it back in, scramble it manually and put it
• 59:27
  back in. And then those are my 23 words.
• 59:30
  And I believe like the cold card or something generates the last
• 59:33
  the I don't know what the checksum, the checksum, right.
• 59:36
  So I'll, I'll pick me manually the 1st 23 and then I think the
• 59:41
  checksum will give you a bunch of options of what?
• 59:42
  Yeah. There's probably like four
• 59:43
  options to choose from with the 24 word, yeah.
• 59:45
  Correct. And then that's what I
• 59:47
  personally do because I'm a paranoid mother at her and I'm
• 59:50
  like, you know what? I don't want to do any.
• 59:51
  I want to do this completely offline.
• 59:53
  But you can essentially import that seed into the cold card and
• 59:59
  then, you know, that will be your seed.
• 1:00:00
  So there's many, there's different.
• 1:00:02
  You could use the random number generator on the device.
• 1:00:04
  You could use the dice roll method as what Dee was referring
• 1:00:08
  to. So there's a bunch of other,
• 1:00:10
  some people are already fans of it.
• 1:00:11
  We have Andrew in the chat. Dice rolls are awesome.
• 1:00:13
  That was so much fun, right? So, yeah, there's a bunch of,
• 1:00:16
  it's all up to you. That's the whole point.
• 1:00:18
  It gives you a bunch of variety on how to protect your Bitcoin
• 1:00:22
  on, you know, different, different.
• 1:00:26
  If you're in different types of situations, right, where you
• 1:00:29
  just want to break your device, you know, you a decoy, whatever
• 1:00:33
  it gives you all those things, right?
• 1:00:34
  It's a, it's a, it's a big rabbit hole.
• 1:00:36
  So go check out cold card use promo code simply again, you get
• 1:00:40
  5% off anything on the store. We recently just partnered with
• 1:00:43
  them and happy to have Dee on the show today.
• 1:00:45
  Guys, we still have a ton of content for you guys.
• 1:00:48
  We have a bunch of news that we want to get to.
• 1:00:51
  Michael Saylor continues to want to buy all the Bitcoin for
• 1:00:54
  better or for worse. And I I I think we already
• 1:00:58
  covered the Eric Trump news and then we're going to be talking
• 1:01:00
  about this recent cycle, which I think a lot has a lot of people
• 1:01:04
  concerned. I would say is, you know, gives
• 1:01:07
  you a longer opportunity to check the to stack cheaper SAT.
• 1:01:12
  So anyways, guys, we're going to hit the new segment.
• 1:01:14
  We will be right back. I want to give a shout out to
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  Check out leaden dot IO today. All right, everybody, we are
• 1:03:49
  back. Let's get into today's news.
• 1:03:53
  All right, so I'm going to start off with this just because I
• 1:03:56
  know this is on a lot of people's minds just based on
• 1:03:59
  just the general feeling on on it's so it's so weird saying
• 1:04:05
  Bitcoin X it's not Bitcoin Twitter anymore.
• 1:04:08
  It's Bitcoin X. It'll always be Twitter in my
• 1:04:10
  heart. It'll be Twitter, yeah.
• 1:04:14
  Well, this is the general consensus on Bitcoin X or
• 1:04:17
  Bitcoin Twitter Bitcoin, and this is a Gordon Altcoin.
• 1:04:21
  Gordon says Bitcoin and Ethereum are closing Q1 with the worst
• 1:04:26
  returns in seven years. Can you?
• 1:04:30
  Zoom in more online I can't. Bitcoin and who who cares about
• 1:04:34
  the Ethereum one? Let's just focus on this one.
• 1:04:37
  Bitcoin quarterly returns again, the worst return in seven years.
• 1:04:43
  This is what we're all feeling right now.
• 1:04:45
  This is why you're like, wait a second price should be way
• 1:04:47
  higher. What's going on?
• 1:04:50
  This is what's going on now. If you actually compare the like
• 1:04:55
  different eras, right? The red line is the current era,
• 1:05:01
  the orange line is the 2017 cycle, the green line is the
• 1:05:06
  2021 cycle, and then the blue is the 2013.
• 1:05:09
  If it was like the green, we already made Bitcoin already
• 1:05:13
  peaked. We already peaked.
• 1:05:15
  Right now we're right now we're in the process of the denial
• 1:05:18
  phase, right? We're like scratching like Nah,
• 1:05:21
  it's going to go back up. It's going to go back up, but
• 1:05:28
  one O 9, that was the peak, right?
• 1:05:31
  That was the peak. Mika's officially a bear, guys.
• 1:05:34
  Let's get him off the show. To be fair, to be fair, the
• 1:05:38
  macro conditions have never been like this on all of bitcoins
• 1:05:43
  previous peaks, right? And for better or for worse,
• 1:05:49
  Bitcoin right now has become a macro asset.
• 1:05:52
  Its market cap is huge. You have BlackRock involved.
• 1:05:55
  You have the US government that wants to get involved.
• 1:05:58
  So it's very correlated to how the NASDAQ is performing, how
• 1:06:05
  the S&P is performing. And both the NASDAQ, I mean,
• 1:06:08
  Tesla's stock has dropped like it dropped like 50%.
• 1:06:11
  It was something wild since Trump's inauguration.
• 1:06:15
  So Bitcoin currently is being treated like a risk on asset,
• 1:06:21
  even though we all know it's a risk off asset, but it's being
• 1:06:23
  treated as a risk on asset and it's reacting to the macro
• 1:06:28
  environment. When Bitcoin was much smaller,
• 1:06:31
  that wasn't the case. Right when when the market cap
• 1:06:35
  was a lot smaller, that wasn't the case.
• 1:06:36
  When Wall Street wasn't involved, it wasn't the case.
• 1:06:39
  But now that Bitcoin's this big and it's maturing, it totally is
• 1:06:44
  the case, at least from a price perspective.
• 1:06:47
  Now from the good news is as soon as the macro environment
• 1:06:54
  starts to become more optimistic about the future, Bitcoin is
• 1:07:02
  going to be the thing that's going to be outpacing everything
• 1:07:05
  else in, in terms of performance.
• 1:07:07
  Right now, people are still skittish because of the whole
• 1:07:09
  Trump, the tariff talk coming out of Trump.
• 1:07:13
  People are are skittish just in general.
• 1:07:17
  I mean, look, look, look at the, I mean, for a company the size
• 1:07:21
  of Tesla for it to drop 50%, bro, that's not, that's not that
• 1:07:25
  great, right? So just in general, the macro
• 1:07:28
  environment isn't that great. And this isn't Bitcoin of 2017.
• 1:07:34
  Bitcoin is heavily, heavily it, it's, it's just become a much
• 1:07:37
  bigger asset and just the macro environment will affect it.
• 1:07:41
  And unfortunately it's just happening during what we
• 1:07:46
  normally would experience is the kind of euphoria phase of the
• 1:07:50
  cycle. So this is kind of unknown
• 1:07:52
  territory. Are are the cycles over?
• 1:07:55
  Are the cycles over? That's another thing.
• 1:07:57
  Are, are the Bitcoin cycles over?
• 1:07:59
  That's a question for you guys. Is it just going to be like, you
• 1:08:02
  know, it's just going to go up and to the right slowly and this
• 1:08:06
  whole, you know, boom and bust type of thing that's happened in
• 1:08:10
  Bitcoin's early history. Are, are those days behind it?
• 1:08:13
  I mean from a simply Bitcoin's perspective, that's great right
• 1:08:17
  'cause bear markets are Oh my God, it's it's just you know,
• 1:08:20
  viewership disappears like the in fact, the whole industry is
• 1:08:25
  kind of tied to the price of Bitcoin, like the miners, the
• 1:08:28
  exchanges like price of Bitcoin really, you know, effects
• 1:08:32
  everything and I'm I'm I'm positive on on the coin kite
• 1:08:36
  side with D like kind of bull market.
• 1:08:38
  I'm positive you guys make more sales, right just to just.
• 1:08:41
  They also dump on us too, right? So exactly.
• 1:08:44
  So like it just it just kind of it is the way it is.
• 1:08:46
  Our whole industry is kind of now the the Pro is the
• 1:08:50
  volatility of our businesses wouldn't be as great.
• 1:08:53
  But you know, of course you don't get those crazy, crazy,
• 1:08:56
  you know, movements. But look, I'm saying all of this
• 1:09:01
  and we still saw Bitcoin go from 16 Ki believe that was the
• 1:09:06
  bottom right 16 K to $109,000. So that's no small feat, right?
• 1:09:13
  It's a big, big jump. Someone in the chat says 30%
• 1:09:17
  correction cycles aren't broken yet.
• 1:09:19
  Still the same as always. Maybe less volatile lows as more
• 1:09:23
  buyers in market. Here's Pierre Richard and again,
• 1:09:26
  a little bit of a kind of depressing, but I know it's on
• 1:09:29
  everyone's mind, so I want to talk about it.
• 1:09:31
  Bitcoins 4 year kagar is at historic lows because the Fed
• 1:09:36
  raised interest rates. Bitcoin is still growing, it's
• 1:09:40
  just slower until USD monetary policy materially loosens.
• 1:09:45
  This is a competitive global currency market now that's the
• 1:09:49
  crazy part and it's something that I think us bitcoiners have
• 1:09:52
  been talking about lately. It's like, yo, like I remember
• 1:09:56
  when I got into it, it was like, you know, we'll be your guide
• 1:10:00
  through the separation of money and state, Bitcoin separation of
• 1:10:04
  money and state. And like here we are in 2025 and
• 1:10:07
  we're like, yo, SPR, it's happening, bro.
• 1:10:09
  The president just said he's going to buy Bitcoin like, you
• 1:10:13
  know, daddy think to the rescue baby.
• 1:10:15
  Like, you know, so it's just funny.
• 1:10:18
  But again, I think it's just, it's just the asset class has
• 1:10:22
  matured. It's become a lot bigger.
• 1:10:24
  It's become, you know, a global player.
• 1:10:27
  And this is what Pierre Richard is mentioning.
• 1:10:29
  But here's the truth, right? Bitcoin's four year CAGAR 13.3%.
• 1:10:37
  It's a great return but definitely not what we're used
• 1:10:40
  to right now, to be fair. To be fair, and someone didn't
• 1:10:43
  mention this, the burner 7461 said four year CAGAR is also
• 1:10:49
  susceptible to timing idiosyncrasies.
• 1:10:52
  March 2021 was a parabolic upswing.
• 1:10:55
  Kygar looks much more reasonable on a multi year moving average
• 1:10:59
  or other smooth curve. So yeah, to be fair, right?
• 1:11:02
  Cuz again, like it looks like this now, but what if, you know,
• 1:11:05
  at the by year's end we're at 250K Bitcoin.
• 1:11:08
  This number is going to completely change, right?
• 1:11:11
  And again, it's something to pay attention to again, is the, the,
• 1:11:15
  the raised interest rates of the Fed.
• 1:11:17
  A lot of people are speculating that Trump is talking about all
• 1:11:21
  these tariffs to essentially dump the economy, to force the
• 1:11:26
  hand of the Fed to lower interest rates, and to make
• 1:11:29
  money printer go Burr again. Or at least that's the theory.
• 1:11:34
  So it's just, it's just interesting though, that like
• 1:11:36
  we're as Bitcoiners, we're essentially cheering for we're
• 1:11:40
  we're like the rest of the market, like waiting to see what
• 1:11:43
  the Fed is going to do like that.
• 1:11:44
  That that to me is, is interesting.
• 1:11:47
  Anyhow, other news as well. Wait, wait, wait, Nico, can can
• 1:11:50
  I chime in here? Can you go back to that first
• 1:11:52
  chart that that the altcoin Gordon one 'cause I think there
• 1:11:57
  is an interesting, interesting note here.
• 1:11:59
  So the headline sounds really bad, You know, Bitcoin's worst
• 1:12:03
  performing Q1 in seven years. But if you look at the
• 1:12:07
  difference there, the 2018 one is the one they're talking
• 1:12:10
  about. It was -49% right.
• 1:12:12
  We obviously didn't get that in this Q1.
• 1:12:14
  But if you look at the closest Q1 worst performance, it would
• 1:12:17
  be 2020, which is the 10 negative 10.83%.
• 1:12:21
  Now look at what it did the rest of the year.
• 1:12:22
  Obviously, we all know the 2021 top was going into a bull
• 1:12:26
  market. So if you kind of, you know, get
• 1:12:29
  some parallel, here's obviously history doesn't repeat, but it
• 1:12:32
  rhymes. It looks like we might be
• 1:12:34
  getting a super bullish Q2Q3 and Q4 of the rest of the year.
• 1:12:38
  So I don't know, we're doing a 2018 type cycle here because we
• 1:12:41
  didn't get -50% we're kind of in this -10 range.
• 1:12:45
  So it looks like the rest of the year, if we're following that,
• 1:12:47
  it's going to be bullish. What if it's just red for the
• 1:12:50
  rest of the That would suck. That'd be terrible.
• 1:12:56
  Like like we peaked already Bros, just get used to it.
• 1:13:00
  Just get used to it. We peaked.
• 1:13:01
  All right, wait, hold on. How do I boot Nico from this
• 1:13:03
  camera angle? Dee, do you want to chime in
• 1:13:08
  before we move on to the next news story?
• 1:13:11
  For sure now all I was going to say is every dip is a buying
• 1:13:14
  opportunity and you know, I know obviously you know, people have
• 1:13:18
  their mask on like yeah, it's going down so I can buy more,
• 1:13:21
  but they're crying behind you know what I.
• 1:13:23
  Mean like that meme? Like.
• 1:13:24
  That meme there's. But you know, it's, it's a, it's
• 1:13:28
  a win win, right? It goes up.
• 1:13:29
  We make, you know, it's more valuable if it goes down, we buy
• 1:13:32
  more, right? Yeah.
• 1:13:33
  You know, I'm not too worried about it.
• 1:13:35
  I'm I'm here for the long haul as, as, as you guys are.
• 1:13:38
  So I know we're not really fazed by it.
• 1:13:40
  Put crying, I think it's crying Wojack or something.
• 1:13:43
  Yeah, I mean, it's, it's definitely a 23% discount.
• 1:13:47
  It it's a it like depends on how you see the glass.
• 1:13:49
  But look, guys, I'll be honest with you.
• 1:13:51
  Like it's what it is like, you know, re if you it, it, it we
• 1:13:56
  should be at 200K by now. Like I mean, and I remember I
• 1:13:58
  interviewed Samson Mao at mining disrupt.
• 1:14:01
  I dropped the clip over the weekend, but it seems like a lot
• 1:14:03
  of you guys watched it because I got a ton of views.
• 1:14:07
  You know, we should be a lot higher right now.
• 1:14:08
  And I think it's just because of the macro monetary environment
• 1:14:13
  that we're not. And that's a little bit
• 1:14:15
  bittersweet. And the reason for that is why
• 1:14:19
  does Bitcoin care about the macro monetary environment #1
• 1:14:24
  and #2 it's kind of like, wait a second.
• 1:14:26
  So like we're as Bitcoiners, we're cheering the Fed number to
• 1:14:30
  go up. Like what's going on?
• 1:14:33
  So anyhow, so yeah, that's the first bit of news.
• 1:14:35
  Wanted to give an update on that.
• 1:14:37
  I, I agree with D, you know, long term, not worried
• 1:14:40
  whatsoever. Number goes up.
• 1:14:42
  It's Infinity divided by 21 million.
• 1:14:45
  The other news is Michael Saylor Michael Saylor smash bot $1.92
• 1:14:51
  billion of additional Bitcoin business intelligence company
• 1:14:57
  strategy continued stacking sats.
• 1:14:59
  That's not stacking sats, bro. That's stacking cornfields.
• 1:15:03
  Stacking cornfields by acquiring 22,000.
• 1:15:07
  That makes me really depressed. 48 Bitcoin worth nearly $2
• 1:15:11
  billion According to a March 31st SEC filing, Strategy
• 1:15:16
  purchased the coins for 1.92 billion last week, or around
• 1:15:21
  87,000 per Bitcoin. This boosted the company's total
• 1:15:25
  Bitcoin treasury to 528,001 185 for $35.63 billion.
• 1:15:35
  At bitcoins current price of A It's so crazy.
• 1:15:39
  Elon's net worth is like 500 billion.
• 1:15:41
  That's so nuts. At bitcoins current price of
• 1:15:45
  approximately 82,000 strategies holdings are now valued at over
• 1:15:49
  43 billion. Michael Saylor continues
• 1:15:52
  aggressively accumulating Bitcoin.
• 1:15:55
  This recent buys were funded mostly through issuing 1.2
• 1:15:59
  billion of new MSTR common shares.
• 1:16:02
  By buying Bitcoin funded via equity, Strategy Converts
• 1:16:07
  converts its corporate treasury from dollars into hard assets.
• 1:16:11
  The company has pioneered using its balance sheet as a leverage
• 1:16:15
  play on bitcoins. Rise Strategy's average per
• 1:16:19
  price per Bitcoin has steadily increased to 67,458.
• 1:16:24
  What do you think happens? Will be dumped to 67 K bro Oh my
• 1:16:29
  God. He'll stack.
• 1:16:31
  More Oh my. He'll be underwater though.
• 1:16:35
  He'll be underwater. Dude, lower your cost bases
• 1:16:37
  sailor and stack it even more. He'll be underwater, dude.
• 1:16:40
  Oh man. OK, Well yeah guys.
• 1:16:43
  So Sailor bought $1.92 billion worth of Bitcoin, 22,000
• 1:16:51
  Bitcoin, which I find interesting to say the least.
• 1:16:55
  And I think big news here. We always talk about the
• 1:16:58
  importance of alignment of incentives.
• 1:17:01
  Hut 8 publicly traded Bitcoin miner I believe says we are
• 1:17:05
  proud to partner with Eric Trump.
• 1:17:07
  This is President Trump's son and American data centers to
• 1:17:11
  launch American BTC. American Bitcoin, a majority
• 1:17:14
  owned subsidiary of Hut 8, aims to become the world's largest,
• 1:17:18
  most efficient pureplay miner while building a robust
• 1:17:21
  strategic Bitcoin reserve. So I find that interesting.
• 1:17:24
  You have the president's son essentially partnering up with a
• 1:17:28
  Bitcoin miner. And also here Bitcoin shines, a
• 1:17:32
  beacon of orange hope illuminating a path in the sea
• 1:17:36
  of red turbulence. So nobody has been immune to,
• 1:17:40
  again, the macro environment is going to say this again, the
• 1:17:43
  overall macro environment has not been great.
• 1:17:46
  This is the reason as to why we believe Bitcoin has not gone up
• 1:17:50
  the way it historically has in the past.
• 1:17:53
  Because Bitcoin is such a large asset these days.
• 1:17:56
  The macro environment will affect Bitcoin's price because
• 1:18:01
  it's that big. I think that's a good thing.
• 1:18:04
  But obviously, you know, if you're used to those dopamine
• 1:18:06
  hits of the past, you know, you, you start to get withdrawals
• 1:18:10
  like Opti right next to me. So strategy, I love the rebrand.
• 1:18:15
  Bitcoin shines a beacon of orange hope illuminating a path
• 1:18:18
  in the sea of red turbulence. So there you go.
• 1:18:21
  I mean, Tesla down 37%, NVIDIA down 21%, Google down 18%,
• 1:18:27
  Amazon down 14%, Microsoft down 12%, Apple down 12%, QQQQ down
• 1:18:34
  9%, SPY down 6%, Meta down 2%. MicroStrategy is actually up 1%
• 1:18:41
  despite the downturn in just the, the overall market.
• 1:18:46
  I will say, I mean, Tessa down 37%.
• 1:18:49
  Holy cow. Seems like a lot of people are
• 1:18:52
  blaming Elon for what's happening with, with Trump in,
• 1:18:57
  in general. So I don't know if you guys want
• 1:18:59
  to chime in on this, but that's a that's that's in use for for
• 1:19:02
  Monday, man, Just, you know, general kind of market update
• 1:19:07
  Eric Trump on, you know, starting a, a, a Bitcoin mining
• 1:19:10
  venture MicroStrategy buying 22,000 Bitcoin.
• 1:19:14
  And despite the downward, you know, just general market
• 1:19:19
  sentiment, MicroStrategy continues to outperform because
• 1:19:23
  it has adopted a Bitcoin strategy.
• 1:19:25
  And if you are to believe a lot of the rumors that are floating
• 1:19:28
  on Bitcoin X or Bitcoin Twitter, depending on how you want to say
• 1:19:32
  it, it seems like other public companies are going to follow in
• 1:19:35
  the footsteps of MicroStrategy, especially after its performance
• 1:19:40
  over the last year. And I mean, look at the
• 1:19:41
  performance of Metaplanet. I mean, this is a essentially a
• 1:19:45
  zombie company coming out of Japan.
• 1:19:47
  It was a hotel company on the verge of bankruptcy.
• 1:19:50
  They adopted a Bitcoin strategy and they 48% their 48 X their
• 1:19:56
  stock in 365 days that is. Gnarly.
• 1:20:01
  That is absolutely crazy. So anyhow, Opti, do you want to
• 1:20:04
  chime in? Then we'll get these thoughts
• 1:20:06
  and then we'll wrap up the Monday show.
• 1:20:08
  Yeah, I think the biggest thing and guys, we're going to drop
• 1:20:11
  out. I don't know at what point, but
• 1:20:12
  we did do a great interview with CJ, our boy CJ Constantinos over
• 1:20:17
  at Mighting Disrupt and I think he laid this out really well.
• 1:20:21
  It was a long interview. I think we're going to put the
• 1:20:22
  whole thing up for you guys. We did a backstage, so he'll
• 1:20:25
  break down all of this going on, but the TLDR that I'm kind of
• 1:20:28
  taking away and him and Larry Laparte, a great speech.
• 1:20:31
  It's just a general uncertainty in the markets right now.
• 1:20:34
  This Bitcoin is. Larry said we're going to duck.
• 1:20:37
  Yeah, Larry, Larry said it's over.
• 1:20:39
  Basically, Larry's probably the most Dumor guy out here right
• 1:20:42
  now. He's like, there's no way this
• 1:20:44
  is going to get fixed. But I think what we're seeing is
• 1:20:46
  obviously Trump is trying to do some things to the economy
• 1:20:51
  essentially from most of the consensus around there.
• 1:20:53
  He's trying to force the Fed's hand to essentially, you know,
• 1:20:56
  go under Treasury right now. And, of course, that is wrecking
• 1:20:59
  European markets right now. Now.
• 1:21:00
  So it looks like, you know, Trump is trying to bankrupt the
• 1:21:04
  EU and force the Fed to get under the Treasury right now.
• 1:21:08
  And this is what the general concern is right now.
• 1:21:10
  But we're also seeing apparently, you know, Liberation
• 1:21:12
  Day or whatever the meme is, or two days from now, April 2nd,
• 1:21:16
  we'll see what happens. But this general tariff policy,
• 1:21:21
  yeah, obviously. But this general tariff
• 1:21:23
  uncertainty we're seeing, obviously the markets are very
• 1:21:26
  volatile. Bitcoin is usually one of the
• 1:21:30
  markets that acts the quickest. We all know it's a 24/7
• 1:21:33
  liquidity and therefore it reacts probably before other
• 1:21:37
  markets happen. And therefore we're seeing a
• 1:21:39
  just general uncertainty in global economics right now,
• 1:21:42
  global macro markets right now we're seeing a lot of
• 1:21:44
  uncertainty. Obviously Bitcoin, it's the most
• 1:21:47
  liquid asset, but just just peppering in some opium here.
• 1:21:50
  I do like this chart right here and I'm I'm going to show you
• 1:21:54
  this peppered in peppered in I, you know, this is some
• 1:21:58
  speculation, but I I like this and let's see let's see if this
• 1:22:02
  plays out. So we're going to go there.
• 1:22:05
  Let's see if this plays out, you know, Bitcoin basically lagging
• 1:22:09
  behind M2 global liquidity and if this continues to play out,
• 1:22:14
  it looks like maybe you know, in a couple of weeks we're going to
• 1:22:18
  see some Bitcoin pumping the more money printer goes Burr,
• 1:22:22
  the more bitcoins going to RIP. So I don't know, I, I, I, I'm
• 1:22:24
  going to just pepper in some opium for myself in the chat
• 1:22:27
  right now. So here we go.
• 1:22:30
  You know, if you're if you're an audio, it's a.
• 1:22:33
  So what Opti's showing for the audio listeners is essentially
• 1:22:36
  that it, it, it we're theorizing it's this is going around on X
• 1:22:40
  or Twitter that it seems like there's a heavy correlation
• 1:22:45
  between the M2 and the Bitcoin price.
• 1:22:49
  And it's identical for the audio listeners.
• 1:22:51
  Yeah, it's it's by a lag like 2 weeks it's.
• 1:22:53
  Very. It's, it's, it's strongly
• 1:22:55
  correlated for sure. It would be, it would be weird
• 1:23:00
  if it was a coincidence 'cause it does look very similar.
• 1:23:03
  But essentially, if the trend continues, it seems like Bitcoin
• 1:23:09
  is lagging the M2, but the M2 just had a recent very, very big
• 1:23:14
  surge. So if that were to continue, you
• 1:23:17
  know, if Bitcoin falls in its footsteps, you know, you're you,
• 1:23:20
  you might see another explosive move to the upside coming soon.
• 1:23:25
  So we shall see. Again, this is kind of
• 1:23:27
  speculation territory, but Opti does wanna end Monday.
• 1:23:32
  Hey, it's Monday, let's give some people some hope here on a.
• 1:23:34
  Hopeful note Anyways, I'm gonna give the last words to DD Thank
• 1:23:39
  you so much for joining us on Simply.
• 1:23:42
  Super happy to partner up with you guys over at Coin Kite.
• 1:23:45
  Big fans of your guys products. What are your final thoughts, my
• 1:23:49
  friend? Yeah, absolutely.
• 1:23:50
  Yeah. I mean, I'm, I'm all for hopium.
• 1:23:52
  So I'm, I'm with Opti here. I, I, I love, I love it if it
• 1:23:56
  goes up. But you know, I'll, I'll buy
• 1:23:58
  more if it, if it stays down, you know, it is what it is.
• 1:24:01
  But yeah, we're, we're very excited to be with you guys.
• 1:24:04
  And you know, I'm the customer support representative over at
• 1:24:08
  Coinkite. So if you ever need to get in
• 1:24:11
  touch with us, feel free to reach out to
• 1:24:13
  support@coinkite.com or send me Adm over Twitter X or yeah.
• 1:24:20
  So if if you need any Bitcoin only hardware wallet solutions
• 1:24:24
  or want to pick up a block clock or on any of our other cool
• 1:24:29
  products like open Dimes, tap signers, SAS cards, T-shirts and
• 1:24:35
  things like that, you know where to find us and we're super happy
• 1:24:38
  to be working with you guys. Absolutely.
• 1:24:41
  Well, Dee, thank you so much for for joining us guys.
• 1:24:44
  Go check out coinkite.com promo code simply 5% off.
• 1:24:48
  There's a tap card. Is there a SAT card?
• 1:24:52
  That's like for all the gold bugs that want that want
• 1:24:56
  physical Bitcoin. Look at that right there.
• 1:24:58
  So they have tap cards and you just tap it.
• 1:25:04
  And and then Nico I, I, I definitely need that back.
• 1:25:11
  It may or may not have some Bitcoin on it.
• 1:25:12
  May. Or may not have slots.
• 1:25:14
  On it. Oh.
• 1:25:15
  Oh, oh, Oh, no, I'm. Pulling it from the.
• 1:25:19
  Last guys, if you guys enjoyed today's show, smash the like
• 1:25:22
  button, consider subscribing and we love you all.
• 1:25:25
  We'll see you on the next one. Take care, everybody.
• 1:25:27
  Today's episode was brought to you by bitcoinwell.com, a
• 1:25:31
  Bitcoin only platform on a mission to enable financial
• 1:25:34
  independence.