Latest / Simply Bitcoin / BREAKING: Does This CONFIRM US Strategic Bitcoin Reserve CANCELLED?! | EP 1351

Transcript

BREAKING: Does This CONFIRM US Strategic Bitcoin Reserve CANCELLED?! | EP 1351 · Simply Bitcoin

0:00
Yo, it's been 10 long months since the strategic Bitcoin
0:05
Reserve bill was passed and we still haven't seen any of the
0:10
Bitcoin. We were told that the strategic
0:12
Bitcoin Reserve was coming and they wanted to continue
0:15
accumulating Bitcoin. In fact, there was an executive
0:18
order that was released by the Trump administration that would
0:22
essentially tell everybody how much Bitcoin the US federal
0:25
government had. We still don't know the exact
0:28
figures, but what they just did begs the question, how serious
0:33
are they about buying Bitcoin? Remember, Bo Hines recently
0:38
resigned? I know he did it in good graces,
0:41
right? But he was the figurehead behind
0:43
the strategic Bitcoin reserve for the US government, and he
0:47
resigned. He joined Tether, and I remember
0:51
when that happened, Opti and I were going back and forth
0:53
saying, hey, you know what? This is probably not a good sign
0:57
for the strategic Bitcoin reserve.
0:58
Then Scott Besson went on TV and he said something that would
1:02
signal that the US was not serious about buying Bitcoin.
1:05
He got a lot of heat off X off Bitcoin Twitter and he kind of
1:12
backtracked a little bit with a post.
1:14
But again, don't pay attention to what they say.
1:16
Pay attention to what they do. And I think this is a a big
1:20
deal. So what am I talking about?
1:22
Let's jump straight into it first.
1:24
Again, we were covering this yesterday.
1:28
Matthew Schultz. Matthew Schultz is the chairman
1:31
and chief executive officer at Cleanspark.
1:33
It's a publicly traded Bitcoin mining company and he said just
1:38
finish a small dinner with with Secretary Besant and Chairman
1:42
Scott. We talked about the market
1:44
structure, Bill, we talked about the economy, we talked about the
1:47
11 finalists for the Chair of the Fed and we talked about the
1:51
strategic Bitcoin reserve. the US holds about A7 about $17
1:56
billion of Bitcoin and quote will not sell and plans to
2:00
continue to accumulate. Those things were cool.
2:03
What's cooler, being at the table, being in the room talking
2:07
about land power, sovereign AI, talking about Bitcoin.
2:10
The actual Secretary of the Treasury of the United States of
2:13
America and the chairman of the Banking Committee care enough
2:16
about what we do to sit down and talk about how they can help.
2:20
We're so early, but we're about to arrive.
2:22
No other crypto or AI folks were there.
2:25
TikTok. So I think the part that I want
2:27
to focus on in this post specifically is that it was
2:31
brought up to him and that the United States holds $17 billion
2:36
worth of Bitcoin. Now, the thing that like I'm
2:38
kind of hesitant on and I'm kind of feeling a little bit weird
2:42
about is again, this executive order was was was was signed in
2:49
the beginning of the year and in the executive order says
2:54
specifically that the government has to find out how much Bitcoin
2:58
they have. There was a piece that was
3:00
released by little elites. We've covered it.
3:03
It was published on the rage and it basically said that she
3:06
submitted a Freedom of Information Act and all she
3:09
could discover from the US Marshals is that they only hold
3:12
30,000 Bitcoin. Compared that with the 200,000
3:16
Bitcoin claim that's on, on, you know, on the, on some of these
3:21
public websites about how much Bitcoin the US government holds.
3:25
So again, it's kind of like a trust me bro situation.
3:28
It's kind of like a Fort Knox situation.
3:30
Like we hold $17 billion worth of Bitcoin.
3:34
Trust us, we're the US government that that's the kind
3:37
of situation that's the feeling that I'm getting here.
3:40
And we know because of El Salvador that they don't have to
3:43
do it that way. El Salvador has a public
3:45
treasury. Anyone could post, copy, paste
3:49
or go to El Salvador's Bitcoin treasury website and audit it.
3:53
You can, you don't have to take Naim Buchele's word for it.
3:56
You don't have to take El Salvador's word for it.
3:58
You can see their treasury, right.
4:01
So again, this is kind of like a trust me, bro situation.
4:04
Now, I said earlier on, don't pay attention to what they do.
4:07
Pay attention to what they say. And take a look at this. the US
4:12
government bought pesos before it bought Bitcoin, right?
4:16
We kept hearing how buying Bitcoin has to be done in a
4:19
budget neutral way, and they're dragging their feet and it takes
4:23
time. And you have to like, like go
4:25
through the bureaucracy and you have to check all the boxes.
4:27
Like we kept hearing that over and over and over and over and
4:31
over again. And then all of a sudden, the
4:34
peso doesn't really have a good track record.
4:36
Ladies and gentlemen. I mean, this is a currency that
4:38
was like basically hyperinflating before Javier
4:42
Malay was elected into office. And here is Treasury Treasury
4:46
Secretary Scott Besson saying the US Treasury has concluded 4
4:50
days of intense meetings with Minister Luis Captu and his in
4:55
DC. We discussed Argentina's strong
4:58
economic fundamentals, including structural changes already
5:02
underway that will generate significant dollar dominated
5:05
exports and foreign exchange reserves.
5:08
Argentina faces a moment of acute illiquidity.
5:12
The international community, including IMF, is unified behind
5:16
Argentina and his prudent fiscal strategy.
5:20
But only the United States can act swiftly and act we will to
5:24
to that end today we directly, we are directly purchased
5:28
Argentine pesos. That's right. the US government
5:32
has bought a hyperinflated currency before buying Bitcoin.
5:37
We also know we also don't know how much Bitcoin they own as
5:40
well. So again, it's not pay attention
5:43
to what they're saying they're going to do.
5:44
It's paying attention to what they're doing.
5:47
And again, you don't hear them using the language we're buying
5:50
bit we're buying pesos in a budget neutral way.
5:54
They didn't even use that language.
5:56
They just said we're just buying bit, we're just buying pesos.
5:58
So, and you're going to ask yourself, how much pesos did
6:01
they buy? They bought $20 billion of a
6:06
hyperinflated currency. Trump boosts Argentina's Malay
6:10
with a $20 billion lifeline as US buys pesos.
6:16
Now you got to ask yourself, this is really dumb like this.
6:20
Why would they do this? Like why would they buy a
6:23
currency that is weak? That makes absolutely no sense
6:27
whatsoever? What is the logic behind that?
6:30
Well, the logic behind that is at the end of the day.
6:33
They what this? Comes down to is Argentina has a
6:37
tremendous amount of natural resources and this lifeline
6:42
towards Malays currency, Malays government is an ability.
6:46
It's, it's kind of like a trade. It's basically saying, look, we
6:49
get access to your resources, not China.
6:51
And if we get access to your resources, we're going to buy
6:54
$20 billion of your S coin because that's what it is at the
6:59
end of the day. Like look, at least at least and
7:02
maybe Opti gives me a hard time because of this.
7:04
At least some of the alt coins pump initially buying the peso
7:10
is a guarantee that this thing is just going to go down
7:13
forever, right? It's just not a good trade.
7:16
And they're willing to buy the peso before they're willing to
7:20
buy Bitcoin, right? That's not a good look anyways.
7:24
So and then you got to ask yourself, maybe this is related
7:28
to the maybe this is related to the dump, right?
7:32
We've been hearing about the strategic Bitcoin reserve for
7:35
nine months, 10 months. It's quieted down a little bit
7:39
now. And beginning of the year, me
7:40
and Opti would spin up a live stream, 1000 live viewers just
7:44
on YouTube. And we were like, Oh my God, the
7:47
strategic Bitcoin Reserve is happening.
7:49
Whoop Dee Doo. This is fantastic.
7:52
Let's all celebrate. And for ten months we kept
7:56
hearing it. We heard it from, I don't want
7:58
to name any specific name. We kept hearing it from
8:01
officials in the administration, officials part of government
8:06
that this was happening. And 10 months later, they bought
8:10
the Argentine peso instead in a non budget neutral way, right?
8:16
And then this begs the question, like Bo Hines resigned, right?
8:20
And he was the most bullish in the administration, but he
8:23
resigned. And we, we said when he
8:26
resigned, like this is not good, right?
8:29
This is not good for the US government buying Bitcoin.
8:32
And right now, from where I'm standing, yes, like he's telling
8:36
the CEO of of Cleanspark that the US government holds $17
8:40
billion worth of Bitcoin. And they want to accumulate.
8:42
And they plan to continue to accumulate and they will not
8:46
sell, quote, they will not sell. But they bought the pesos first.
8:53
They bought $20 billion worth of pesos.
8:55
So if it's so easy to just buy $20 billion worth of of pesos,
9:00
why can't they just say, hey, we bought $20 billion worth of
9:02
Bitcoin? I don't understand.
9:04
And especially since bitcoiners are are such a large part of
9:08
their donor base, I don't get why, you know, I don't get why
9:14
they're not doing that. It doesn't make sense to me.
9:16
Wait, wait, Nico, before we go here, we, we do have some
9:20
updates because there is some interesting stuff going on, not
9:23
necessarily related to this that I, I do think are going to reel
9:26
in. But I do want to mention here
9:28
again, the number $20 billion, that's like over 200,000
9:33
bitcoins. So they could have literally
9:34
doubled their stack with this. And like the conversation we've
9:38
been talking about, obviously they've been claiming budget
9:41
neutral ways. I think I I still believe that
9:45
they want to acquire Bitcoin. They're they're not going to
9:47
sell their Bitcoin, but it is very interesting that there is
9:52
that many that this, these so many like obstacles in the way
9:57
of them embracing Bitcoin. And maybe that's just kind of a
10:01
a factor of where we are in the story right now that right, you,
10:04
you, you can kind of embrace Bitcoin, but the US government
10:08
fully going out and buying Bitcoin, it still doesn't kind
10:11
of have the ring that it does in our circles.
10:14
Of course, for us is something that Nico just said.
10:16
We've we've been kind of waiting all year.
10:18
We were super hyped that this was going to happen.
10:20
I mean, there's a lot of people that that don't want this to
10:22
happen, but it would legitimize is what we're doing here a lot.
10:25
And this $20 billion buy of pesos is just like they could
10:30
have bought a bunch of Bitcoin. If you're looking at it from an
10:32
opportunity cost that US bitcoiners always do.
10:36
It's I think very obviously from our perspective a drop ball.
10:40
If they bought the Bitcoin, they probably could have bought all
10:43
of Argentina soon enough. And then on the natural
10:47
resources, and this is where we'll pull up the next tweet,
10:49
which I think is going to explain to everyone why we well,
10:52
personally why I think the price is going down right now.
10:55
The resources that I heard that's the most specific that
10:58
the US wants to maintain control over, or rather not lose control
11:02
over is Argentinian's lithium market.
11:04
And I think that's what it is, though there is kind of the
11:08
further conversation of like, why didn't they just kind of
11:10
invest in their lithium markets in general?
11:13
And it does go into, you know, there's, there's a lot of stuff
11:16
going on over in Argentina that some Bitcoiners aren't that
11:19
happy with. I don't know if you guys been
11:20
seeing safety and he's been going really hard on Malay, but
11:23
recently basically like calling him a Lara and all this stuff.
11:27
So it is very interesting what's going on.
11:29
Of course, the big conversation for us is like, OK, you put all
11:33
these red tape around acquiring Bitcoin.
11:35
It's been 10 months. And then you just, you know,
11:38
give Argentina a lifeline with 20.
11:40
You buy $20 billion of their shit coin, which is just like
11:44
insane to us as Bitcoiners. This just the opportunity cost
11:48
of that is just nuts Here, Nico pull up the next tweet and and
11:51
I'll kind of rundown what what I think's going on.
11:54
Obviously, you guys, this is my opinion.
11:56
I don't I don't know exactly if this is what's going on with the
11:59
price. Go go to the the the last tweet
12:02
that I pulled up here. So if you're asking yourself
12:06
what like you know, why is the market dumping today?
12:08
What is going on? Well it looks like we might be
12:12
back into a trade war with China and here full screen this or
12:17
pull it in I'm I'm not going to read the whole thing, but you
12:20
guys can kind of look at this and what's going on and I find
12:24
the connection here is very interesting with what we saw
12:27
with this news of the can I read it no we.
12:30
Don't. Need to read the whole thing we.
12:32
I just, I want to kind of do it in the Trump's voice.
12:34
No, we don't need to do that. We don't need some.
12:36
Very strange. Things are happening, happening
12:39
in China. They're that's enough.
12:41
They're being very hostile and sending letters to countries
12:44
throughout the world that they want to impose export controls
12:48
on each and every element of production having to do with
12:52
rare earth minerals and virtually anything else they can
12:56
think of, even if it's not manufactured in China.
12:59
Nobody. That's it, That's it.
13:01
That's all. That's all you need to know from
13:02
this. Donald J Trump, President of the
13:05
United States of. America, I think I, I think, I
13:09
think, yeah, I, I think that's the big signal, like the the
13:14
coincidence here. The timing of this is the most
13:17
interesting aspect of what we saw.
13:19
So yesterday we heard the US is giving Argentina a $20 billion
13:24
lifeline. We buy their vessels.
13:26
Everyone's kind of saying it seems to be revolving around
13:29
their rare earth minerals. And then today we get China, or
13:34
maybe it was last night. I, I don't know the timing of
13:36
this, but we get this tweet from Trump essentially saying, hey,
13:39
China is now making a play for rare earth minerals right now.
13:43
And. They're trolling, dude.
13:45
They're totally trolling. And I don't know if you guys
13:48
watched the markets this morning, but they're, they're
13:51
they're kind of in a panic. And I think everyone is, is
13:54
viewing this is like, oh, I thought the trade war was over.
13:56
I thought we this was behind us and everyone's kind of getting
14:00
blindsided in the markets. Remember when the trade war
14:02
happened, there was a lot of volatility in the markets.
14:05
Everything kind of corrected and we were like, oh man, the bull
14:08
run is completely over. Like, man, we we got naked here.
14:12
It seems like the market is anticipating a trade war with
14:16
China and again, it is all revolving around rare earth
14:19
minerals here. So I think that I know a lot of
14:23
people aren't necessarily saying this I've that's just kind of
14:25
what I heard from people on Twitter saying that this is all
14:28
revolving around Argentinia's lithium and this is what this
14:31
move is. But when you look at it from
14:33
the, the Bitcoin perspective of why would you buy $20 billion of
14:37
a, you know, hyper inflating Fiat currency when you could
14:41
basically double your stack in Bitcoin?
14:44
And I, I was, I actually had to tone down the hook a little bit
14:47
for Nico because he does love Trump and that what they're
14:52
doing. And so I, I was a little lenient
14:55
on it. I was going to go like a lot
14:56
harder on it if, if it was just me alone on this, because it
15:00
does beg the question, how serious are they about acquiring
15:03
Bitcoin? We keep hearing the rhetoric
15:05
that they're going to acquire Bitcoin.
15:07
It's keeps seeming like they're pushing that can down the road.
15:10
And who knows when this is going to happen again.
15:12
There is a deadline here. I think, you know, next year, if
15:16
this doesn't happen quickly heading into the midterms, this
15:19
is going to be completely non existent.
15:22
This is not going to be part of the conversation.
15:23
So it is starting to bring the question of are they actually
15:28
going to be buying Bitcoin or was all this a campaign promise
15:31
that just isn't going to fully be fulfilled?
15:33
That's like where I was going to kind of take it, but I I didn't
15:36
want to kind of put Nico in that position.
15:38
I was like I, I will talk about. This, so this is how I, this is
15:42
how I'll, I'll, I'll approach it, right?
15:44
I think right now Bitcoin is a politically sensitive topic,
15:50
right? That's the, that's the way that
15:53
I'm seeing it. That's the way that I'm
15:54
interpreting it. And I think that if the Trump
15:59
administration bought Bitcoin and Bitcoin had a correction or
16:05
something like that, meaning Trump's investment, you have to
16:09
understand, I had a podcast with George Bodeen yesterday, and
16:15
it's going to drop soon. And basically he was making the
16:18
argument that, like, look, Nico, I've lost relationships because
16:23
of my stance on Bitcoin. Bitcoin is extremely, extremely
16:29
divisive. If you have a certain worldview,
16:33
that's what you guys have to understand.
16:35
We were talking about this slightly yesterday on, on, on
16:41
when Spetsky was on. And that's what you guys have to
16:44
like understand is that some people just, they don't like it.
16:50
And that's a big portion of the voting population.
16:55
They're ideologically opposed to the ideas of Bitcoin and what
16:59
Bitcoin will do for individuals and how Bitcoin will allow
17:03
individuals to do their thing. That's how they view it.
17:07
That's how they view this technology.
17:09
That's how they view Bitcoin, right.
17:11
So that's, that's, I think what is stopping the Trump
17:15
administration in my in, in, in my view that it's politically
17:19
unpopular and that the headlines are just going to go crazy that
17:24
the US government bought $20 billion worth of Bitcoin.
17:26
Now that's my first take, the benefit of the doubt.
17:30
My second tape going more towards Opti and his philosophy,
17:37
which is you saw how fast they passed the Genius Act.
17:43
It was both parties came together and passed a bill for
17:47
stablecoins. Why?
17:50
Well, because the propagation of stablecoins worldwide is
17:55
actually extremely beneficial for the dollar.
17:59
You see how long it's taken to pass the Bitcoin Act and the
18:03
Clarity Act and I forgot the other one.
18:07
You see how long they've taken to pass those.
18:10
They're not really incentivized. So at the end of the day, I
18:13
think lot lot posted it this this morning.
18:16
I don't know if it's his post or original thought or not, but he
18:19
basically said something along the lines of show me the
18:23
incentives and I'll show you the outcomes, right.
18:26
And at the end of the day, bro, like, yes, holding Bitcoin for
18:32
the US government is going to be more beneficial, But you know
18:35
what's going to be, it's going to be beneficial for the US
18:37
government, but you know what's going to be even more beneficial
18:39
for the US government? The propagation of the, of the
18:44
United States dollar. And at the end of the day,
18:47
Bitcoin, you know, whether you people are saying it can
18:51
coexist. I, I, I say I, I think it can,
18:54
but I think Bitcoin's better money.
18:56
It's just better money than dollars.
18:58
And I think eventually if, if, if bitcoin's allowed to
19:02
propagate, if Bitcoin is be is is allowed to get treated as
19:05
money from a regulatory perspective, I think more and
19:09
more people are going to choose Bitcoin over the dollar.
19:12
So at the end of the day, you know, the people in power are
19:17
not stupid, bro. So you know, that's the benefit.
19:21
That's kind of the the worst case.
19:24
The best case is, like I said, it's politically unpopular.
19:28
And he know he knows that it might hurt his chances during
19:31
the midterms. Another red, another red herring
19:34
also too, is Bo Hines resigned. And Bo Hines was the one who is
19:38
driving that initiative forward. So, you know, again, don't pay
19:43
attention to what they do. Pay attention to what they
19:45
don't. Pay attention to what they say.
19:47
Pay attention to what they do. And what have they done?
19:49
Well, they bought pesos, $20 billion worth of pesos before
19:55
they bought Bitcoin. And I got to say, that's pretty
19:57
disappointing. I understand it from a
19:59
geopolitical standpoint. They want to get ahead of China.
20:02
It's funny. It doesn't matter if it's a,
20:04
it's a if it's, if it's not a budget neutral way if, if it
20:08
means that they can get ahead of they, that money comes out real
20:11
quick. Where'd that money come from?
20:14
Where'd that money come from? Thin air, bro.
20:16
So like this. I don't, I'm not buying this
20:18
budget neutral stuff, man. It's taking too long.
20:21
It's not. It's been 9 or 10 months now
20:23
since they've promised this. This was part of the campaign
20:26
promise and I haven't seen it. Also in Nashville, I want to
20:30
talk about this too. We can kind of pivot this a
20:32
little bit. Opti in Nashville, candidate
20:37
Trump, which is now President Trump promised us that Bitcoin
20:40
was going to the moon. Bitcoin has not gone to the
20:42
moon. In fact, we touched an all time
20:44
high and we're back at 118 K. That doesn't feel really good.
20:48
Is the bull market over Opti? Is it done?
20:51
I don't think so. I don't think so.
20:52
Sorry. I'm, I'm, I accidentally blocked
20:55
someone in the chat. I'm trying to find you.
20:56
I apologize, Avi. Didn't mean to do that.
20:58
I'm trying to. I'm trying to fix that right
21:00
now. So short of it, I don't think
21:03
it's over. Nico.
21:04
Why it's just not over my I am the source.
21:10
My gut is telling me it's not OK guys that this is financial
21:12
advice. No, I'm trolling.
21:14
I just I'm looking at the chart and it's still kind of bullish.
21:16
The weekly charts looking still pretty bullish to me.
21:19
We're retesting the support and I think it's going to RIP.
21:25
But yeah, I'm, I'm sorry dude, I didn't mean to block you.
21:30
I'm I'm trying to find you also. Want to give a shout out to all
21:33
the streams? Shout out YouTube, shout out
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Rumble, shout out Primal. We're streaming to Noster via
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primal, shout out to the Primal team over there and shout out to
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XX always coming in strong. So if you guys are enjoying the
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live stream so far, simply Bitcoin Live on Friday, make
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sure to smash that like button. We got some surprises for you
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guys over the next couple weeks, which should be a whole lot of
21:58
fun. I think you guys are going to
21:59
enjoy it. You guys are going to like it.
22:00
But anyways, it's going to be a great show.
22:02
I do want to go back into that conversation, Opti, about
22:05
whether the bull market is over or done.
22:08
I do want to talk about that. More dude, are you?
22:10
Do you want me to chart boy? I do want you to chart boy, man.
22:13
I want the. Culture to be opti chart boy.
22:16
OK, I'll chart boy later. Let me let me try to fix my
22:18
mistake. Opti Opti's chart boy for the
22:21
culture anyways guys be a fantastic show already 689 live
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So again, if you guys are enjoying the show, smash that
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22:42
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25:30
gold market cap 8.33% Decline from all time high -6.2%.
25:34
Realized monetary inflation .84%.
25:37
In the grand scheme of things, we are just getting the party
25:40
started. Anyways, here is Keir Starmer.
25:44
I don't know if I said that correctly.
25:46
He is the Prime Minister of the United Kingdom, and he said the
25:51
quiet part out loud. It's almost as if we were right
25:55
about this Opti. Almost.
25:56
It's almost as if we called it. It's almost as.
25:58
If we said you could predict if. It's almost as if we said this
26:01
was an inevitability because they kept saying that this
26:04
wasn't going to happen. They kept saying that no, this
26:06
is impossible and etc, etc. He said the quiet part out loud,
26:12
which is exactly what we said was going to happen.
26:14
Because again, it's not rocket science.
26:16
I have digital ID. It's been taken up on a
26:19
voluntary basis in huge numbers, not least because it means that
26:25
you can access your own money, make payments so much more
26:28
easily than is available with others.
26:30
So I think now we need to go out and make that case huge numbers,
26:35
not least because it means that you can access your own money,
26:39
make payments. So that's great.
26:43
Like I don't even know. I don't even know if he has a
26:45
cell phone where is also, I do want to give a shout out.
26:47
My sister Megan is in in the house.
26:51
If you want to give Megan a shout out, play me.
26:54
Please make sure to to comment Megan in the chat again.
26:57
It's spelled Megan with 10 ES. That's how you spell it.
27:02
And you have to say it like a sheep because if if not, you say
27:06
the name wrong. But anyway, so say Megan and
27:09
when you see her, that's how you have to call her.
27:11
Anyways, if you want. I'm just joking.
27:13
She's my little sister. I like, I like, I'm getting
27:17
older. Dad jokes are terrible.
27:19
Boomer jokes, Boomer dad jokes. Anyways, back to the digital ID
27:23
stuff. So this is what we were warning
27:27
about. This is what they were warning
27:28
about. And this is what they were
27:29
denying, right? This is what we were warning
27:31
about. This is where they were denying.
27:32
And I was saying like, and again, there was, I think it was
27:36
like 2 or 3,000,000 British citizens signed a petition
27:41
against the government complaining for the, about the
27:44
digital IDs. And then we got some megans in
27:47
the chat. That's fantastic.
27:49
Oh, we got 2 megans in the chat, Megan.
27:51
OK, Anyhow, so he's saying the quieter part out loud.
27:55
He's like, hey, look, it's going to connect to your money and
27:58
it's going to make payments easier, but it's also going to
28:00
give us complete control and get to decide what we can and do for
28:03
your money. But you got to trust us because
28:05
we're the government like man anyhow.
28:08
So here's Steve Stephen Barrett Barrett and he says digital ID
28:16
is telling us what it is where you visited get our own little
28:19
personal online. I can't say that word.
28:23
Let's say government officer to to look into US, judge us and
28:32
control every aspect of our lives.
28:34
We must resist. Like take a look at that app,
28:36
right? So your digital IDs control to
28:38
your house, your appointments, your vehicle, your voting.
28:42
Imagine getting into your vehicle.
28:43
It's like you said something naughty online. 5 miles only
28:47
five mile limit. This is why I don't want a Tesla
28:50
all. Right.
28:50
Only five mile limit. You said naughty online.
28:54
You said something naughty online.
28:56
You, you, you can no longer vote.
28:59
Dude, I can no longer. Drive that is so that is, that
29:02
is very dystopian. That's very dystopian.
29:04
I, I, I just don't like this look, I, I think we should
29:08
again, this is a, this is something that this is a
29:11
they're, they're seeking to solve a problem that doesn't
29:14
exist. And in my opinion, I think
29:18
they're seeking to solve this problem because they see
29:22
Bitcoin, they see the writing on the wall and I think it freaks
29:25
them out. That's my honest opinion.
29:27
I think it freaks them out. So anyhow, here's David Davis
29:31
and he says government ID photos of around 70,000 discord users
29:35
worldwide have been stolen after hackers breached the security of
29:39
an age verification company. If these tech companies can't
29:43
keep our data safe, what hopes does Whitehall have of keeping
29:48
digital IDs safe? Here's the next post.
29:51
Here's the actual article. Hack of age verification for may
29:55
have exposed 70,000 Discord users ID photos Government ID
29:59
photos of 70,000 global users of Discord, a popular messaging and
30:03
chat platform among video gamers, may have been exposed
30:06
after hackers compromise a company contracted to carry out
30:10
age verification. So again, you're creating a
30:14
honeypot. You're creating a problem that,
30:17
in my opinion, doesn't exist. You can use a passport, you can
30:22
use a physical ID, and it works just fine.
30:27
It works fine. It gets the job done.
30:30
Why are they mandating that everyone gets digital IDs all of
30:34
a sudden? You see this all over Europe,
30:36
right? It's a digital ID, digital ID.
30:38
And they try to like, you know, put roses on it and make it
30:41
sound reasonable and logical. And then at the simultaneously,
30:45
they're telling you, like, Christine Lagarde can't even
30:48
help herself. And she says, I, I actually
30:50
don't like democracy. Democracy is getting in the way
30:53
of me being able to launch a central bank digital currency
30:56
now after everything we've lived through over the past decade.
31:00
I'm going to pass it on to you guys.
31:02
Do you think that it's mere happenstance or coincidence that
31:07
they're hell bent on rolling out digital IDs while simultaneously
31:13
trying to roll out central bank digital currencies while at the
31:17
same time the Prime Minister of the UK just said that hey, you
31:23
know what, it's going to be easier to access your money.
31:27
That wasn't even part of the bargain.
31:30
That was, that was a Freudian slip, right?
31:33
Like this is crazy. And then again, it goes back to
31:35
like the very fundamental core question that I've been telling
31:39
you guys for over 2 weeks now. Like, is this really the role of
31:43
government? Like I think personally, what I
31:47
think is that they're salvating at the mouth, looking at what
31:51
the Chinese government is able to do and how they're able to
31:55
control their populace. And they're saying, hey, why
31:58
can't we have that? That's what I think is
32:00
happening, man. So again, you got to ask
32:03
yourself, because this is really a tired situation.
32:06
I actually forgot to pull up the post.
32:08
Oh my God, I can't even forgot. I I can't even I can't even
32:11
can't believe I forgot to do that.
32:14
The Telegram CEO. Oh yeah, that was great.
32:18
He he posted a warning about this so you guys don't think
32:22
it's only just me like losing my mind.
32:25
He posted early on today Opti can you share that here?
32:28
I got it right here. Perfect.
32:30
The Telegram CEO said this was I think this morning he said I'm
32:34
turning 41. But I it was yesterday, it was
32:36
yesterday, so I'm turning 41. This is Paul Pavel Duroff.
32:41
He's the founder of Telegram. He's an absolute genius.
32:44
They call him the Mark Zuckerberg of Russia and he says
32:47
I'm turning 41. But I don't feel like
32:49
celebrating. Our generation is running out of
32:52
time to save the free Internet built for built for us by our
32:57
fathers. What was once the promise of the
33:00
free exchange of information is being turned into the ultimate
33:04
tool of control. Once free.
33:06
Countries are introducing dystopian measures such as
33:09
digital IDs, online, online age checks and mass scanning of
33:15
private messages. Germany is persecuting anyone
33:18
who dares to criticize officials on the Internet.
33:21
The UK is imprisoning thousands for their tweets.
33:25
France is criminally investigating tech leaders who
33:28
defend freedom and privacy. A dark dystopian world is
33:32
approaching fast. While we're asleep, our
33:35
generation risk going down in history as the last one that has
33:39
had freedoms and allowed them to be taken away.
33:42
We've been fed a lie. We've been made to believe that
33:45
the greatest fight of our generation is to destroy
33:47
everything our forefathers left us.
33:50
Tradition, privacy, sovereignty, the free market and free speech.
33:55
By betraying the legacy of our ancestors, we've set ourselves
33:58
on a path towards self destruction, moral,
34:01
intellectual, economic and ultimately biological.
34:04
So no, I'm not going to celebrate today.
34:07
I'm running out of time. We are running out of time.
34:10
That's a very, very strong and well written message and it's
34:14
telling you guys the blunt truth and it's telling you guys what
34:18
we've been saying here at Simply Bitcoin.
34:20
And I think we just, we just, we bring it down to the most
34:24
fundamental basic layer. If you control money, you
34:28
control society. What Bitcoiners are proposing is
34:32
a money that cannot be controlled by anyone but has a
34:36
set of rules. So it's rules without rulers or
34:40
rules money with rulers, I guess is the opposite of that.
34:44
I don't know. I'm I'm coming up with all of
34:46
this. I'm coming up with all of this
34:48
off the cuff. Money with the rulers.
34:51
Dude, that's crazy. That's crazy.
34:53
They're saying the quiet part out loud, man.
34:55
And it happened here in the US. Remember the the document that
34:59
Senator Lummus discovered from the Fed that was not supposed to
35:02
be released? This memo, right?
35:04
You don't remember that. You don't remember the memo.
35:07
Say it again. It was basically along the lines
35:09
of like I was basically along the lines of I was basically
35:15
along the lines of like it went through all of the Fed's short
35:21
term goals and at the very bottom of the list it said
35:23
central bank digital currency, while simultaneously you have
35:27
Jerome Powell testifying in front of Congress that they're
35:30
not going to launch central bank digital currencies.
35:32
I think that's the scary part in my opinion.
35:36
So anyways. What do you think of?
35:37
I mean, is this anything new? We know they don't want want us
35:42
to have freedom, money. But I do want to talk about the
35:45
narrative around this, that how do you say his name?
35:49
Keir Starmer said. The Prime Minister.
35:52
The Prime Minister? Yes, you have to say you.
35:54
Have to say it. Right, I I can't do an English
35:56
accent, I I can do a valley girl accent, that's all I.
35:58
Got do it in Valley. Girl, that's how I speak.
36:03
I. Can't do any other accent.
36:06
I do, I do want to comment on, obviously I don't want to rehash
36:11
what Nika said because I, I fully agree on his takes on
36:14
this. I do want to mention the idea
36:17
around the narrative. We've seen the narrative shift
36:20
around digital ID and CBD CS it, it's constantly morphing.
36:24
And like that tweet said, it's obviously the quiet part out
36:28
loud though, I would do, I would kind of flip it.
36:31
What do you say? You know digital ID and CBDC
36:34
will make make it easier for you to use your money again.
36:38
We've been talking about this for a while.
36:39
They always frame CBD CS as like a convenience payments factor.
36:45
And now they're doing the same thing with digital ID.
36:47
And in reality, for probably most of us here, it would be a
36:52
lot harder for us to use our money.
36:54
This is why we use Bitcoin because we don't need their
36:57
permission to use to use our money.
36:59
I don't think you should have or need someone's permission to use
37:03
money. That, in my opinion, is why we
37:05
are bitcoiners. They're permissionless system
37:07
where as long as you opt into it, I don't have to ask someone
37:10
whether I can, you know, buy freaking Twinkies at the grocery
37:13
store, like what is going on here?
37:15
So I find it interesting. Obviously, we are in the
37:18
business of narratives and, and as I like to call it,
37:21
propaganda. And you can see that their
37:24
narrative is constantly shifting because the first things that
37:27
they kind of give for give to the public about around what
37:31
they want to do, it doesn't hold any water.
37:33
And they're getting a lot of pushback on this.
37:35
And so they're constantly trying to morph this narrative to
37:38
appease people. And as I've been saying for a
37:40
while, they they always rely on one kind of rhetorical tool and
37:45
it's convenient. And so it's funny that they're
37:47
going this point or this angle. It's like, oh, the digital idea
37:51
in CBDC, it's it's going to be easier for you to use your
37:53
money. And you're like, yeah, that's
37:56
probably not the case. And so again, I've been saying
38:00
for a while, I've I've been a little flippant about it.
38:02
I'm like, the UK is cooked. It doesn't look good for parts
38:05
of Europe right now. And hopefully in the US we can
38:09
skirt past this. But more more to the people out
38:12
there that do watch us over there on the other side of the
38:15
pond is like, this is the stuff that everyone should be kind of
38:20
freaking out about. This is what everyone should be
38:25
pushing back against. This is this is like the
38:28
dystopian corner slavery meme that we always talk about.
38:31
This is not the future I want to live in.
38:33
I do not want to see this implemented in any parts of the
38:36
Western or in any parts of the world, to be honest.
38:39
But from an American perspective, if this happens in
38:42
Europe and people just kind of go along with it, then it's it's
38:46
a safe bet to to say that it's going to happen here, or at
38:48
least they're going to try to do it here.
38:50
Hopefully there's a lot more pushback from, you know, Main
38:53
Street or retail or just individuals.
38:55
But I don't know from anything we've seen in the last couple
38:59
years, it, I feel like a lot of people are just going to fall
39:02
into this trap, which is horrible.
39:04
Yeah, 100%. I 100% agree with that.
39:07
Anyways, guys, we have a hell of a show lined up for you guys.
39:11
Big breaking news, CNNBC article.
39:15
We're going to be talking about this, but a major bank, it drops
39:19
restrictions on which wealth clients could own a crypto
39:23
funds. Again, Bitcoin's taking over
39:26
Wall Street and this is in stark contrast to what EU KS biggest
39:33
investment platform has, you know, a warning for their
39:37
investors. So you can kind of see the game
39:39
theory of how different countries are looking at
39:42
Bitcoin, but fundamentally, you know, when different countries
39:45
are competing because that's what it is.
39:47
Like if you take an anti Bitcoin stance, you're planting a flag
39:50
in the ground and you're saying, you know what, we feel a certain
39:53
way about Bitcoin. And if the another country
39:56
saying, hey, look, we actually like Bitcoin, the country that
39:59
likes Bitcoin is going to fundamentally be at an advantage
40:02
and what's going to happen over the long term?
40:04
And we see this with all the expats moving to Dubai.
40:07
Like, you know, and you kind of saw this a little bit in the
40:10
states, a little bit during the pandemic when California and New
40:13
York were extremely hostile towards businesses.
40:16
You saw a lot of people get up and move to Texas and Florida.
40:19
There was this mass exodus. So people more and more are
40:23
going to start voting with their feet.
40:25
And now that you have a whole like class of people that make
40:28
their money online, they, they, they work remotely, you know it,
40:34
obviously, you know, those people are going to, you know,
40:40
they're, they're going to, they're going to vote with their
40:42
feet, right? It's, it's inevitable in my
40:44
opinion. Anyways, I do want to give a
40:46
shout out to the live stream. 731 live viewers just on YouTube
40:53
alone, almost 100 live viewers on Rumble and shout out to the
40:57
Primal audience. We got 4700 zaps.
41:00
Appreciate it. Thank you.
41:01
Thank you Primal. Thank you, Noster.
41:04
And we're at 17 live viewers on Primal.
41:10
Of course, the X audience coming in strong guys, we're going to
41:13
be right back in just a bit. We're going to hit the new
41:16
segment. We have tons to talk about.
41:17
We'll be right back. I want to give a shout out to
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All right everybody, let's get on to today's story.
44:32
What am I talking about? Morgan Stanley massive bank,
44:36
huge bank, ginormous bank drops restrictions on which wealth
44:42
clients can own crypto funds. So let's go through some of the
44:47
key points. Morgan Stanley on Friday told
44:50
its financial advisors that the firm was broadening access to
44:53
crypto investments to all clients and allowing such
44:57
investments in any type of account, including retirement
45:01
accounts, CNBC learned. Starting October 15th, advisors
45:06
will be able to pitch crypto funds to any client.
45:09
Previously, the option was limited to those with an
45:12
aggressive risk tolerance and at least $1.5 million in assets.
45:18
Morgan Stanley will rely on on an automated monitoring process
45:22
to make sure that clients aren't overly concentrated in the
45:25
volatile asset class. So that last part sounded a
45:30
little bit. AI is going to make sure you
45:33
don't have you don't have 100% of Bitcoin.
45:35
No. But how I'm interpreting that is
45:37
like, like, OK, 'cause like think about, OK, you guys don't
45:39
understand, the whole wealth management business relies on
45:45
experts basically trying for you to get a return on your money.
45:52
And they take a fee for that, right?
45:55
And usually that's around 10 to 12% return a year.
45:59
If you're overly aggressive, you can go for 15, but it's really
46:02
that 8 to 12% sweet spot. And then some funds return more
46:07
than that. But the point is, is that if
46:09
Michael Saylor is right and Bitcoin is destined to a 30%
46:15
Taggar for the next 30 years, it beats every single one of these
46:19
wealth management companies and you don't have to pay a fee.
46:23
Right. So that last paragraph is very
46:26
suspicious to me, bro, 'cause it's kind of like, oh dude,
46:29
it's, it's, it's performing too well.
46:31
It it. Reminds me of the Big Short,
46:35
where it's like you got to keep them on the roller coaster and
46:37
it's all Fugazi, you guys. That's the Big Short.
46:39
That's Wall Street. Yeah.
46:41
Yeah. Well, it's all.
46:42
Fugazi. It's all Fugazi, keep them on
46:44
the roller coaster. Exactly exactly do you want to
46:47
give a shout out to live stream 725 people watching live just on
46:51
YouTube alone shout out to the other platforms as well.
46:53
If you guys are enjoying simply Bitcoin live, make sure to smash
46:57
that like button Anyways, let's continue on so so on the other
47:02
side of the pond, it seems like there's a different type of
47:05
reaction to it. Bitcoin is an investment class U
47:09
KS biggest investment platform has a.
47:11
Star is not. Is not.
47:13
That's a key difference. Thank you Opti for catching me
47:16
there. Yo, you really need hooked on.
47:18
Hey Sophie, Christmas is coming up.
47:20
Let's get them hooked on. They've tried they I've tried
47:23
everything, I've tried everything for my reading skills
47:26
and it's not worked 30 plus years later.
47:30
So anyways, on the other side of the pond, Opti appreciate the
47:33
correction. Bitcoin is not an investment
47:36
class, according to the CNNBC article.
47:39
It's asset class. What did I say?
47:44
OK, Bitcoin is who let this guy in?
47:47
Oh. Man, I'm seeing things.
47:49
It's Friday. It's been a long week.
47:51
OK, I'm sorry, this is the right version.
47:55
Bitcoin is not an an asset class.
47:59
Bitcoin is not an asset class. We got it right.
48:01
You got it right the third time. All right, the third time's the
48:05
charm. U KS biggest investment platform
48:08
has a stark warning for investors.
48:11
EU KS biggest retail investment platform.
48:16
Hargreaves land zone. What Opti said has urged traders
48:21
to exercise caution on cryptocurrencies.
48:24
The HL investment investment view is that Bitcoin is not an
48:29
asset class and we do not think cryptocurrency has
48:32
characteristics that mean it should be included in portfolios
48:35
for growth or income. The long standing UK ban on
48:38
retail investors being able to access crypto exchange traded
48:42
notes was lifted on October 8th. Now, what's really, really
48:46
interesting about this and guys, you have to connect the dots
48:48
because these headlines by themselves don't mean anything.
48:51
You can just tell that they don't like this thing.
48:56
And I and I have a feeling and I know why I it's the reason I
49:00
laid out, right? It's literally the reason I laid
49:02
out. If you're a wealth management
49:05
firm and you're charging a fee and all of a sudden there's an
49:08
asset that you don't that you can take self custody of and
49:12
it's giving better returns, why would you pay that fee for
49:16
someone else to hold your money? It's literally as simple as
49:21
that. Why would you do that?
49:23
It makes no sense. So when I'm seeing banks kind of
49:26
saying like, you know, this and this and that, and when I'm
49:29
seeing, you know, the UK, the biggest investment platform in
49:32
the UK saying, look, it's not an asset class.
49:34
Here's the thing, guys like that tells me that they don't even
49:37
believe in free markets. Like you don't get like it's
49:40
like when Christine Lagarde was was saying like Bitcoin isn't an
49:44
asset class and then everyone started giving early.
49:47
It had no intrinsic. It had no intrinsic.
49:49
Value, it's like, dude, that's your opinion, but the market,
49:52
that's the market is saying it's worth $118,000 and it's the best
49:57
performing asset of the last 15 years.
49:59
So like you could ignore, you could ignore reality for
50:05
ideological reasons and you could say it's not an asset
50:08
class, but the free market is saying the exact opposite of
50:13
what you're saying, right? And again, I think it comes from
50:17
a place of fear. I think it comes from a place of
50:20
you're you're, you're you're worried that that's what I think
50:23
it that's what it boils down to in my humble opinion, right?
50:27
So you can kind of see the stark contrast.
50:29
Now the good news is, and I'll kind of end it with this and
50:32
then pass it on to Opti is that you can only do that for so
50:35
long. Why?
50:36
Because eventually you get a competitor that says, actually,
50:40
you know what, Bitcoin is a fantastic asset class.
50:44
And we're going to offer that on our platform.
50:46
And then all the people that are denied for buying Bitcoin on
50:51
that platform for ideological reasons are going to open an
50:54
account with a competitor and go there.
50:56
And then the game theory comes on and I'm calling it right now,
50:59
eventually they're going to bend the knee, right?
51:03
Just we saw the same thing happened here in the United
51:06
States. Originally Larry Fink was
51:09
Bitcoin's not Bitcoin is speculative, Bitcoin's not an
51:12
asset, you know, it's used for money laundering, etcetera,
51:15
etcetera. And then five or six years
51:18
later, Bitcoin becomes the Bitcoin ETF, literally becomes
51:22
the most profitable ETF for BlackRock and it becomes the the
51:26
fastest growing ETF in history for BlackRock and just in
51:32
history in general, right? And then Vanguard initially
51:36
said, hey, we're not going to do that because Bitcoin is not an
51:40
asset and Bitcoin is risky. And then what, six months later,
51:44
what did Vanguard do? They turned around and they
51:47
said, actually we're going to allow our clients to buy third
51:52
party ETFs. Why did they do that?
51:55
Because they were probably losing clients to BlackRock,
52:00
right? So free market is going to do
52:02
what the free market does best. And at the at the end of the
52:05
day, you know, people make it ideological, but I don't think
52:10
it is ideological. If you take an ideological
52:13
stance on Bitcoin and you say, hey, you know what this thing
52:18
is, you know, this thing is not an asset class, it's not money,
52:25
I'm going to use who's who came up with the line.
52:27
Have fun staying poor. I think it was Michael Saylor.
52:31
Maybe, yeah. I think it was Michael Saylor.
52:33
It wasn't Michael Saylor. You're, you're literally making
52:37
a decision not to benefit from Bitcoin.
52:40
And at the end of the day, as time goes by, there's a
52:44
financial cost to that. Like you could believe that the
52:47
sky is purple, right? You could believe that.
52:49
You could say Bitcoin is not money.
52:50
Bitcoin is not an asset. Bitcoin is not this.
52:53
I'm a central banker. I get to determine what things
52:55
are and this and this and that. As long as number keeps going up
52:59
and it has been going up, you're wrong, right?
53:01
You're just wrong. You can feel whatever way, but
53:04
you're wrong. So anyhow, not financial advice,
53:08
just an opinion. Just talking.
53:11
It's Friday shows a 754 live. Yearly financial advice.
53:15
Despite me not being able to read very simple English
53:19
headlines. And or the hook.
53:21
And or the hook smash the like button.
53:23
If you guys are enjoying the show, Opti, what's your opinion?
53:26
And then we're going to get to Chart Boy.
53:28
I guess we're going to chart boy.
53:30
And the Friday chart. Boy, I'm excited.
53:32
People want the chart Boy, I I think you hit the nail on the
53:37
head. I was going to say the same
53:38
exact thing. This really reminds me of the
53:41
Vanguard CEO who also when BlackRock launcher ETF was like,
53:46
we're not going to let our customers hold this, you know,
53:49
we're not even going to allow these products on our platform.
53:52
And then, you know, six months later he got replaced by that
53:55
literal guy who launched the BlackRock ETF.
53:58
So I don't know who this Hargraves institution is, but
54:03
someone in the chat says I was just about to open an account no
54:06
more. It sounds exactly the same
54:08
thing. And again, the the timing of it
54:11
is, is really like obvious what they're doing.
54:15
The UK just lifted their ban on the ETFs the following day.
54:19
One of the biggest and oldest institutions, like, yeah, this
54:22
is not an asset class. Do not invest in this thing.
54:25
And again, it's just go watch The Wolf of Wall Street.
54:29
That one clip. It's, you know, the Matthew
54:30
McConaughey clip. It's like Wall Street isn't
54:33
real. Keep them on the roller coaster.
54:35
And we make a bag out of this, like, we get all the money.
54:37
Never make it real for them. Just keep them in, you know, on
54:41
the roller coaster or else it becomes real to them.
54:44
And then we lose out on the money.
54:45
This is what it's all going on. And then also, you know, the
54:47
Morgan Stanley headline did sound super bullish until you
54:50
read that that, you know, last key take away, which is the same
54:53
thing. They're all saying the same
54:55
thing. They understand what's at stake
54:57
here, which is literally their jobs.
54:59
Why do you need a financial manager to underperform Bitcoin
55:02
when all you have to do is buy Bitcoin and hold it?
55:04
It just like the math doesn't make sense if you are trying to
55:08
store your wealth. If all you want from a savings
55:11
account or a portfolio is to protect your wealth, why are you
55:16
going to give them money to basically underperform on
55:19
Bitcoin? It just, it makes no sense, but
55:21
it is interesting that this signal hasn't really gotten
55:25
around to everyone. Bitcoin is still looked at as
55:27
this risky speculative asset or this speculative investment,
55:31
this gamble. Whereas from our perspectives,
55:35
someone that's been in Bitcoin for a long time, that's like all
55:37
in on Bitcoin to us, it's risky not to be in Bitcoin.
55:42
Like it's risky to diversify your portfolio in anything but
55:45
Bitcoin, as I've been kind of showing you guys the last couple
55:48
of weeks, there is a real opportunity cost.
55:51
And if you can't outperform Bitcoin in your entrepreneur
55:55
endeavor endeavors, your other investments, why are you doing
55:58
that? You need to price everything in
56:00
Bitcoin. And if you're doing that, then a
56:02
lot of these fund managers, a lot of these portfolio managers,
56:06
they're not going to have a job here.
56:07
And, you know, I'm not, I'm not out here advocating for people
56:10
to lose their, you know, careers and their well-being.
56:13
It's more like, yo, this is the world that we're going in.
56:16
All you really need to do to protect yourself and have a good
56:18
portfolio is saving Bitcoin and take that into custody.
56:21
You don't have to pay fees on it.
56:23
It's just like it's very simple. It's almost too simple for
56:26
people. They want to overcomplicate
56:28
things. They want to outsource this to
56:29
other people. They don't want to think about
56:31
it. And here we are like, yeah,
56:33
that's exactly what I do, except for I don't outsource my
56:36
holdings to other people. I just hold Bitcoin and chill
56:39
like it. It's not that complicated.
56:41
Absolutely reach Bitcoin's end. I think that's the goal that
56:45
everyone should try to achieve in their lifetime.
56:49
Anyways, guys, we still have a fantastic show lined up for you
56:52
guys. It is Friday and Opti is going.
56:55
Dude, my charts aren't even that impressive.
56:57
Opti is going to chart boy if you guys are enjoying chart boy
57:00
opti right Chart boy opti in the chat.
57:03
Why don't want memes? Memes are chart boy.
57:07
No, I can't. Pull up memes right now.
57:08
I can't pull up memes. All right, all right, everybody,
57:10
we're going to be right back in just a bit.
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59:15
Hi everybody. We're back Opti we're.
59:17
Sorry. Sorry.
59:18
Wine's distracting me. You know, wine's distracting.
59:21
All right, guys. OK, OK.
59:23
All right. I got it.
59:24
I got it. Where's the chart?
59:25
Bowling all right, you know, by popular demand, you guys like
59:29
the chart bowling. I, you know, we've tried forever
59:31
to stay away from TA stuff, but apparently people want some
59:35
chart bowling. Here it is Hold on.
59:37
I'm pulling it out. I'm I got way too many freaking
59:40
tabs open over here. Where is my tab?
59:45
OK, here we go here we go. All right guys, this is what I'm
59:48
looking at and I actually have some indicators here.
59:51
I kind of like them actually. Let me plug him.
59:56
Actually, let me just do the char blowing.
59:57
I'll do I'll do the char blowing and then I'll plug these
59:59
indicators and and I'll kind of explain them.
1:00:02
OK, so everyone's freaking out. What?
1:00:05
Let me see on the daily we are down what like 2%?
1:00:10
Actually, that's a pretty big candle that's.
1:00:13
A pretty big candle here. Three percent, 3.21% on this
1:00:17
candle. That's pretty bad.
1:00:19
It's not that bad. But so this daily, this daily
1:00:22
doesn't look that good. This, this, I'm gonna be honest,
1:00:24
this daily is looking brutal. But we did just maybe we might
1:00:29
be entering a trade war. And as everyone knows, Bitcoin
1:00:33
is the most liquid asset in the world right now.
1:00:36
And people still look at it as a risky asset.
1:00:38
And so by that I mean that when people get scared, they sell out
1:00:43
their Bitcoin first because they want to go into things that they
1:00:46
think won't move in the market. And even though the S&P 500's
1:00:51
reacting kind of negatively negatively and the Bitcoin price
1:00:53
is acting negatively, like gold's still at 4K right now.
1:00:57
So gold's still holding on really strong.
1:00:58
And it's actually, let me let me double check this.
1:01:00
Maybe, maybe it's pumping it, it actually corrected yesterday and
1:01:06
now it's not. It's, you know, it's, it's
1:01:10
pumping a little bit, but you can tell this is completely
1:01:13
opposite of what we're seeing from from Bitcoin and S&P 500.
1:01:16
Right now, why do you think that is?
1:01:18
Because people are just feel comfortable with gold and we're
1:01:21
seeing a lot of people diversify into the oldest hard money,
1:01:24
which is of course Bitcoin. Anyway, let's go back to the the
1:01:26
Bitcoin chart. So what I'm looking at is it's
1:01:30
really on the weekly. So like the monthly is beautiful
1:01:34
and I I'm really trying to minimize all my lines on my
1:01:36
chart. I do have two here.
1:01:38
I'm trying to keep it to one. But there is this uptrend, which
1:01:40
is, you know, we're still following.
1:01:42
So I'm not really that concerned per SE.
1:01:44
The monthly is still bullish. It's still a green month so far.
1:01:47
So I think October is still in effect.
1:01:49
But I was talking to Luke this morning asking him also to like
1:01:53
confirm what, what is the kind of time frame that you're
1:01:58
looking at that you do your chart Boeing on And we, we both
1:02:01
kind of confirmed that it's the weekly here.
1:02:03
So if you're looking at the weekly, we basically, you know,
1:02:06
broke through the last high that we saw last highest weekly
1:02:10
close. That was in July.
1:02:11
We got this really good candle here.
1:02:13
It broke through that support at the time.
1:02:15
It was resistant. It's it's flipped to I like
1:02:18
blue. I usually have this blue and red
1:02:19
just cuz I'm color blind. It broke through that and then
1:02:23
now we are kind of correcting and testing that support.
1:02:26
This is on the weekly. So the weekly you know, you
1:02:29
could, I could move this here I guess.
1:02:31
And you know that looks a little better, but it's the same
1:02:34
difference and that is around what 1:18-ish.
1:02:38
So this week is going to be very interesting to see what happened
1:02:43
Sunday. So if we close under 118, then
1:02:47
guys, you know, my buddy might be right, we might have to pack
1:02:50
it up. But I don't believe that's
1:02:51
what's happening. We are correcting here.
1:02:54
And the reason I don't think that's what's happening is
1:02:57
because of stats like this, which is glass node.
1:03:01
And this is I think part of the greater trend.
1:03:03
We're all wondering right now whether the four year cycle is
1:03:06
over or not. Everyone is kind of talking
1:03:09
about four year cycle is dead because institutions are coming
1:03:12
into Bitcoin and they have fundamentally changed the the
1:03:15
market structure and the price of Bitcoin.
1:03:18
And what that means is essentially, since Bitcoin price
1:03:22
isn't being driven by retail, you're not going to get these
1:03:25
crazy FOMO's, this crazy dump because let's be honest, retail
1:03:31
and main, you know, not necessarily us because we're,
1:03:34
we're true believers. But the average investor in
1:03:37
Bitcoin doesn't really understand all of the psychology
1:03:40
of what's going on. So they see something pumped,
1:03:42
they buy it, it gets really high, maybe they sell out, they
1:03:45
see it dumping, and then they continue to sell out into the
1:03:48
bottom. They just get wrecked.
1:03:49
Their emotions get caught up in this.
1:03:51
But what I think is happening here is this greater trend that
1:03:55
institutions are driving the price of Bitcoin.
1:03:57
And as I've been saying the last couple of weeks, actually
1:03:59
Mauricio from Leaden came on here.
1:04:01
When was that? That was like months ago.
1:04:03
And he's, he kind of planted this idea that since the
1:04:08
institutions are here, what you need to watch are the
1:04:11
institutional inflows. And yes, they're going into
1:04:14
ETFs. But as you can see from here,
1:04:16
this is glass note this morning, the ETF inflows have continued
1:04:20
despite the recent pullbacks, showing that institutional
1:04:23
demand remains steady even as derivative traders get chopped.
1:04:26
This suggests structural buying is still underpinning the
1:04:29
market, helping to absorb volatility and stabilize price
1:04:32
action. And you know, look at this.
1:04:34
This is like, we haven't seen this amount of buying since
1:04:39
April of 23, right? Is this?
1:04:42
Yeah, that's what it's saying. And so wait, why are these
1:04:48
numbers are weird? Anyway?
1:04:49
Let me go back. No, sorry, April of this year,
1:04:53
the beginning of this year. So you're starting to see the
1:04:57
institutions still have the appetite for Bitcoin.
1:05:00
And this really goes into this idea of an unlimited bid under
1:05:04
Bitcoin. And if you are these
1:05:07
institutions, and we've heard a lot of rhetoric come out from
1:05:09
these institutions that they're not necessarily just buying
1:05:12
Bitcoin for the short term, whether it's like Matt Hogan
1:05:15
from Bitwise. We're hearing even JP Morgan's
1:05:18
and the biggest banks of the world essentially tell us that
1:05:21
this debasement trade is catching on, that people are
1:05:23
looking at Bitcoin as a hedge against Fiat currencies or the,
1:05:27
you know, demise of Fiat currencies, of this idea that
1:05:30
your currencies in dollars are being debased and you need to
1:05:33
find a hedge, whether that's gold or that's Bitcoin.
1:05:36
Some people may still think that real estate is a hedge against
1:05:38
that debasement. Historically, it has been.
1:05:41
And so am I thinking that this is the top not right now on
1:05:45
Sunday or maybe on Monday I'll come back and and I'll have to
1:05:49
readjust my view on where we are right now.
1:05:51
Maybe I'll be depressed on Monday 'cause we broke down on
1:05:54
this price structure and we're under 118.
1:05:56
But from my view, I think we are still, we're still in for
1:06:01
October. Though someone did say something
1:06:02
interesting in the chat that since the four year cycle is
1:06:05
dead, then maybe October is dead also, which is super bearish,
1:06:09
but it's a total possibility here.
1:06:11
So anyways, it you know, chartball, dude, the, the line
1:06:15
I'm looking at, I'm looking at the weekly line here.
1:06:17
Oh, oh, Oh yeah, I remember. So I have been looking at these
1:06:23
indicators here and one of them is, and, and again, I'm not the
1:06:27
biggest power law guy, but these indicators are kind of based off
1:06:30
the power law. And we have Bitcoin divergent
1:06:33
for Bitcoin only. And then we have the RSA plus
1:06:36
with divergent. And the reason I like these is
1:06:40
let me zoom out a little bit and shout out to him.
1:06:43
He's just giving these out. I forget what his name.
1:06:47
It's like JJJ 88 or something like that, J186 or something one
1:06:55
I don't know. I'll have to find his, his
1:06:56
Twitter account. I, I don't have it right on
1:06:58
hand. I, I didn't really think we were
1:07:00
going to do some chartballing here, but the reason I like this
1:07:02
is 1 there's Bitcoin divergent. It's showing you in the green
1:07:06
when the price gets here or this, you know, RSI or it's a,
1:07:10
you know, indicator. When this indicator gets in the
1:07:11
green, this is a buy because they perfectly line up with
1:07:15
these dips and he's been using this for a long time.
1:07:18
He's actually the the first guy to talk about the power law on
1:07:22
the Bitcoin forums. And then again, when it gets in
1:07:24
the red, then that's when the market is oversold and you know,
1:07:27
maybe you take a little chip off the table and you wait for this
1:07:30
green. And so if you look at this, we
1:07:32
are right smack dab in the middle, which it means there's
1:07:35
nothing to be concerned about. And then RSI, you guys know,
1:07:38
RSIRSIS, you know, standard indicators here.
1:07:42
But again, when it gets up to this high part above 80%, that's
1:07:46
when it's getting frothy. When it gets below this 40%,
1:07:49
that's when it's going to bottom.
1:07:51
Again, these are right in the middle.
1:07:54
I'm not, I, these are new for me.
1:07:56
I don't really trade on indicator.
1:07:57
I don't even trade, but I like watching these indicators
1:08:00
because I think they are essentially helping you kind of
1:08:04
relax your psychology and, and look at this and be like, Hey,
1:08:07
look like, you know, they, they line up perfectly with the
1:08:10
bottom. They're I don't know, man, I I
1:08:13
like anything to help me as a crutch to kind of anchor what
1:08:18
I'm already thinking. So anyways, uptrend, we are
1:08:21
testing this weekly. We'll see what happens.
1:08:24
Well, that one's a monthly, but Sunday will be the real test.
1:08:29
But tomorrow's going to be interesting.
1:08:30
Oh, it's going to be interesting to see if this closes under this
1:08:33
tonight. But yeah, anyway, there's my
1:08:34
char boy. And guys, I'm, I'm not ATA chart
1:08:36
boy, but hopefully you got something from that.
1:08:39
Yeah. I mean, I think that's what what
1:08:40
everybody is, is thinking, right?
1:08:42
Which is, you know, I think a lot of us were thinking that
1:08:45
Bitcoin was just going to blow off to new highs.
1:08:49
That was kind of like the sentiment a couple of days ago,
1:08:53
like literally 9 days ago. And this is October, you know.
1:08:59
Dude this is wack tober. But we did not get that at all.
1:09:03
Yeah, we hit an all time high, but we didn't have that, you
1:09:06
know, parabola phase that is like very well known in the
1:09:11
Bitcoin markets, right? And I think sentiment has
1:09:14
changed because I think if you believe in the four year cycle
1:09:18
theory, then you're like, OK, well, we're kind of running out
1:09:21
of time. Right, TikTok.
1:09:24
We have, we have less than three months for this, you know, blow
1:09:29
off top. And I think we're all going to
1:09:31
kind of find out if you know if, if this cycle is going to
1:09:35
continue to play out like it normally plays out or we're
1:09:39
going to find out if, you know, this cycle truly is different.
1:09:43
And we're going to find out if, you know, the cycle breaks and
1:09:47
we have kind of like this extended cycle.
1:09:48
We're all going to find that out in the next three months or so.
1:09:53
And you know, Bitcoin always tends to do the exact opposite
1:09:57
of what everyone thinks. So we shall see.
1:09:59
Anyways, guys, if you enjoyed the last episode of the first
1:10:04
week of October, I think, I think this is the first week.
1:10:08
First full week. First full week of SB Live on
1:10:11
October 2025. If you guys enjoyed it, make
1:10:16
sure to smash that like button consider subscribing if you feel
1:10:18
like we provided you value someone in the chat says rector.
1:10:21
That's funny and I do want to give a shout out to one of our
1:10:25
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1:11:01
All right, everybody, love you all.
1:11:03
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episode of Simply Bitcoin Live. Take care everybody.
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