Latest / Simply Bitcoin / The $4.1T BANKER LIE Continues! (We NEED To Talk About This) | EP 1301

Transcript

The $4.1T BANKER LIE Continues! (We NEED To Talk About This) | EP 1301 · Simply Bitcoin

0:00
Yo, we're about to play you a clip of ACEO from a $4.1
0:04
trillion bank who quietly holds $300 million worth of
0:10
MicroStrategy on their portfolio.
0:12
They also just partnered with one of the world's largest
0:15
exchanges earlier in the week, but their CEO went on national
0:19
news yesterday and openly lied about Bitcoin.
0:23
Who am I talking about? Well, let's check out the clip
0:25
and then we shall talk about it. Merging, we've seen lately a
0:30
merging of kind of crypto and JP Morgan and traditional finance
0:34
in recent months, whether it's the Coinbase partnership that
0:36
you announced yesterday where Chase customers can use credit
0:39
cards to fund Coinbase accounts or investor.
0:41
Day where you said clients can can buy Bitcoin although you've
0:44
cautioned against it or the stablecoin like token JPMD.
0:48
How how prevalent do you see crypto in traditional finance
0:52
and do you foresee risks? As these two worlds do become
0:55
more intertwined. Yeah.
0:56
Well, first of all, there's never been a new financial
0:58
product that didn't tell risk. So that obvious isn't me risk.
1:01
And they haven't written all the laws yet.
1:03
Like, you know, think of the guard.
1:04
Think of the rules around it like, you know, AML and BSA and
1:07
KYC and disclosures. And you know, when they say
1:10
stablecoin, which we're going to have, I'm not against stable
1:12
coins like a mutual fund, you know, but mutual funds have
1:14
rules where the rules gonna be around stable coins and the
1:17
youth. I think there are really.
1:18
So I'm a believer in stablecoin, a believer in blockchain, not
1:21
personally a believer in Bitcoin itself.
1:24
But you're the customer, you know, I don't like to tell
1:26
customers what they can and can't do with their money that.
1:29
That is a whole. Different issue for us.
1:31
And so we're going to accommodate those things.
1:33
You mentioned that we did a deal with Coinbase, so you can now
1:35
move money from Chase to Coinbase.
1:37
We're going to make it easier for people.
1:39
They've agreed how to use our APIs, which we think is a good
1:42
thing. So we know we'll.
1:44
We'll be in it and we'll see it. It's a little bit of a solution
1:48
looking for a problem. Because if I'm going to send
1:51
you, we already have the JP Morn coin.
1:52
We already moved money 24/7. We moved $10 trillion a day
1:56
quite effectively, efficiently, safely with all the cyber
1:59
protection and stuff like that. But if I'm going to send you a
2:01
stablecoin, you're going to say to me one point, well, I don't
2:04
want your mutual fund, just send me cash and then I'll invest the
2:06
way I want. And but there are things that
2:08
stablecoin maybe can do that, you know, traditional cash
2:11
can't, like is programmable. I might be able to send you a
2:14
stable coin, then you can send it to 10 different vendors you
2:16
want to pay on a regular basis or something like that.
2:18
So we'll be in it and we'll use it.
2:20
And again, if the customers want to use it and how they use it
2:24
and it's used properly, we'll be doing it.
2:26
It's what the customer wants. It's not what JP Morgan
2:28
personally wants. Sounds like that's the case with
2:30
both private credit and and crypto.
2:33
So what happens if customers don't want JP Morgan coin,
2:36
right? You know, again, ladies and
2:39
gentlemen, this is what this is what you call victory.
2:42
This is what you call victory. You know, Jamie Dimon has been
2:45
attacking Bitcoin for about half a decade now, calling it
2:49
basically an index of money laundering, saying everything he
2:53
can say negatively about Bitcoin.
2:57
But when push comes to shove, what I've been telling you guys,
3:01
market forces do and market forces do best.
3:04
And they essentially nudge Jamie a little bit to basically say,
3:08
listen, if Chase doesn't jump on this bandwagon, if our customers
3:12
are asking us, hey, we want access to Bitcoin, you know
3:19
that's what happens, right? So, you know, this is what these
3:24
are market incentives. And this is essentially one of
3:28
the most powerful men on the face of the planet, the CEO of
3:30
one of the world's largest bank, if not the largest bank, at
3:33
least in the. They're largest by market cap in
3:36
the world. I think they're 5th largest by
3:38
total assets. So it's it's one of the biggest
3:41
in the. US it's a it's a massive bank
3:43
and basically you're seeing the CEO bend the knee and say,
3:50
listen, I don't like it 'cause it would be kind of weird if he
3:53
did a 180, but he said, if our customers want it, we're going
3:57
to give it to our customers. Simultaneously, what I thought
4:01
was hilarious is 2017 called and they want their excuses back.
4:05
He's saying I'm a big fan of blockchain, like, OK, bro.
4:09
And then the other thing he said, which I found interesting
4:12
as well, which was him promoting his own stablecoin.
4:18
And I find that interesting because again, it's like, you
4:21
know, don't buy Bitcoin. Here's my shiitake coin, right.
4:28
So I found that hilarious, right.
4:30
And you know all these banks and credit card companies like they
4:34
they see the stable coins and they're like, look, I need to
4:36
get a piece of the action on this.
4:38
So simultaneously he's telling you like, yes, Chase, you know,
4:44
we'll we're going to come up we're going to give the
4:46
customers what they want. But simultaneously, if you guys
4:49
caught on to that, he was promoting his own company.
4:53
He was promoting his bank, right and basically giving all the
4:57
thousands of reasons as to, you know, you don't really need a
5:02
peer-to-peer money. We handle all these trillions of
5:06
dollars. Of transactions on a daily
5:08
basis. You don't need Bitcoin right in
5:12
fact. You don't need Bitcoin.
5:13
I don't like Bitcoin. We'll sell it to you, but we
5:14
don't need it. And then even though I don't
5:17
like Bitcoin, we decided to partner up with one of the
5:20
largest, you know, altcoin exchanges that sells Bitcoin on
5:25
the place on the planet, on, you know, on planet Earth, right.
5:28
So again, kind of hypocrisy, a little bit of contradictions.
5:34
He's saying, OK, I'm market driven, but you know, I'm I'm
5:37
just going to share the screen because Opti was kind enough to
5:40
share some of these things with Earth.
5:42
We want on air these. There's some of the comments
5:46
that he made, just just. Zoom in on the on the the.
5:49
Yeah, I'm gonna. Have it just playing in the
5:50
background but says JP Morgan CEO we shouldn't be stockpiling
5:55
Bitcoin. We should be stockpiling bullets
5:58
right? So like what changed from May
5:59
30th 2025 to now right? What changed?
6:04
I don't know and I think there was a giant miss a dip in May
6:07
as. Well, and do the other one I
6:08
sent you, do the other one I sent you.
6:10
So, and then if you take a look at this one, this one I think is
6:12
a little bit older, he says Jamie Dimon on Bitcoin.
6:16
My personal advice is don't get involved.
6:19
This was from a year ago. So if you would have bought
6:22
Bitcoin January 17th, 2024, you're way up right now.
6:26
You're, you're doing fantastic. You're doing fabulous, right?
6:31
So, you know, now he's changed his mind, you know, he's like,
6:34
ah, you know what, we kind of like Coinbase.
6:39
We kind, you know, we'll sell it to our client.
6:41
I might not like it, I might not like it, but we, we'll sell it
6:44
to our clients though. And then while we were telling
6:48
you guys while we were covering this and we, we called, we
6:52
played this on simply when it happened, we said like, look
6:55
like they're projecting. They're projecting.
6:58
Because essentially, if you would have taken his advice, you
7:01
would have lost a massive opportunity.
7:03
I think Bitcoin, look Bitcoin was at $42,000 per coin when he
7:08
was saying that. Look, I I have here here, let
7:11
me. Put it more than two charcoal
7:13
real quick. If you did the opposite of what
7:18
he said and he actually will go to just today, you'd be up 175%.
7:25
That's fantastic. So like, yeah, I mean, it like
7:29
could just, let's just be honest here.
7:30
Like it, it wasn't good advice, you know, it just wasn't good
7:33
advice, right? You know?
7:35
But again, market forces do what market forces do best and
7:39
they're forced. They're creating an incentive
7:41
structure. And this is what's happening
7:44
anyways. Also breaking news as well.
7:47
His bank, JP Morgan Chase and Coinbase strike deal to link
7:51
bank accounts and crypto wallets.
7:54
It goes on to say JP Morgan Chase and Coinbase Global Inc
7:57
signed an agreement to directly link customers bank accounts to
8:00
their wallets. As banks and fintechs clash over
8:04
who has access to customer data at what cost.
8:06
I'm just calling it out there. I think this is a terrible idea.
8:10
I think you should just buy Bitcoin, right?
8:14
Our lead sponsor Bitcoin well, is fantastic because it's
8:17
automatic self custody. There shouldn't be a link
8:19
between your bank account and your wallet, right?
8:23
Should it be 1? Shouldn't be, it shouldn't
8:25
exist. The connections between Chase
8:27
Bank accounts and Coinbase wallets are expected to go live
8:30
next year, according to a statement Wednesday.
8:33
But he was saying like how Bitcoin is a like a, a, a, a
8:38
solution searching for a problem.
8:40
This is a little literal definition of a solution
8:43
searching for a problem. It goes on to say Coinbase plans
8:47
to maintain all its existing relationships with data
8:49
aggregators with with direct connections to Chase accounts.
8:54
In addition to those, a Coinbase spokes in person said JP Morgan,
8:58
the largest U.S. bank, recently began informing fintechs that it
9:01
would change charge them each time a customer's information
9:05
was accessed. The move sparked an outcry among
9:09
executives at fintech and cryptocurrency companies,
9:12
including crypto billionaire Tyler Winklewey.
9:15
Winklewey then accused JP Morgan of pausing the onboarding of his
9:19
crypto exchange Gemini as a customer because of his
9:22
criticism of the bank. While one one time time UPS
9:26
could could cut costs, it's unclear whether it's feasible
9:29
for all companies, regardless of size, to negotiate deals to
9:33
forgo relationships with DAGA aggregators altogether.
9:37
In a written statement, AJP Morgan spokesman spokesperson
9:41
said the bank is open to establishing direct connections
9:44
and has, quote, A-Team actively working to do that.
9:49
So I'm just going to leave it there.
9:51
I'm going to pass it on to Opti. I mean, I feel I, I, what I hear
9:56
from Mr. Diamond's voice is fear.
10:01
What I hear from his voice is he's worried a little bit.
10:05
He's worried about the disruptive properties of
10:09
Bitcoin. And that's why he's basically
10:12
saying simultaneously, I don't like it.
10:16
We'll still offer it to our clients.
10:19
You could see that their relationship with one of the
10:22
largest altcoin exchanges on the planet is kind of rocky, a lot
10:26
like, you know, the Winklevi don't like it.
10:28
Gemini's one of the largest exchanges in the world too.
10:31
They, they're not a big fan of it either.
10:35
What what are your thoughts on this Opti?
10:36
Cause from my perspective, my humble perspective, I mean, I
10:42
think he's a little bit. I think he's he's a little bit,
10:47
I don't know if fearful's the right word, but I definitely
10:50
think he sees what we see. And, you know, all the fear
10:55
mongering, you know, for the last decade didn't work.
10:59
It fell on deaf ears, you know? So, yeah.
11:02
But this is what bending the knee looks like, Ladies and
11:05
gentlemen, when you have the CEO of the world's largest bank by
11:09
market cap basically saying I don't like Bitcoin, but I'll let
11:12
my clients access Bitcoin, that should tell you everything you
11:16
need to know about where we're heading.
11:18
Yeah, 100% and actually this comment right here by Sidious
11:22
Gemini is perfect. It goes literally Mr. Robot
11:25
series playing out. You can keep your E coin, Mr.
11:28
Diamond and I'll keep keep the Bitcoin.
11:30
If you guys don't know the series, Mr. Robot, highly
11:34
recommend you go watch it. This literally played out
11:36
exactly like it and the banker in it was, you know, kind of
11:39
look like Jamie Dimon. Now you'll probably watch that
11:42
series with like a whole new view of it.
11:44
But my take on Jamie Dimon is kind of twofold.
11:49
The first one is just like my general take on him.
11:52
I remember again, you guys know, I love Nolan.
11:55
I, I, I love watching it. The show he been has been saying
11:59
for a while that he used to work, I think it was at coin
12:03
desk and at coin desk, they were basically in the same building
12:06
as JP Morgan Chase and a lot of the people right under Jamie
12:10
Dimon that would report to him. And I think this was like 2013,
12:13
2014 era, they were asking really good questions about
12:16
Bitcoin and his take away from it was they know what's going
12:20
on. They know what game is being
12:22
played here. And so that leads into my second
12:25
portion of this is what I've been saying on the show for a
12:27
long time is I don't think a lot of bitcoiners really understand,
12:31
or rather they they are a tad bit naive and they think that
12:35
these bankers and institutions don't actually know what they're
12:38
talking about, or rather that they're stupid.
12:40
I think it's way it's a lot more like a poker face.
12:43
Like I think they the people in card, whether it's like Janet
12:45
Yellen, Christine Lagarde, Jamie Dimon, Larry Fink, like I think
12:51
they know exactly what is at stakes.
12:54
And when you see him come out publicly, you kind of get to see
12:58
why they do this. If you understand that
13:01
privately, they fully understand what is going on here.
13:04
So privately, you know, and and Nolan was saying it's arguably,
13:09
or rather you could make the case that he's probably already
13:12
owning Bitcoin privately, He probably holds some Bitcoin.
13:15
So, but publicly it's his job to kind of keep people away from
13:19
Bitcoin. As you can see from all of the
13:21
headlines, he says, you know, I like stable coins.
13:24
I like a blockchain, not Bitcoin and but like, I'm not going to
13:27
stop you from buying Bitcoin if my customers want it, which I
13:30
think might have been the big signal here.
13:32
He's like, if you guys want this from JP Morgan Chase, we will
13:36
sell it to you, which is one of, you know, just like you could
13:39
say banker greed. Other is he's a capitalist.
13:42
He's listening to what his customers want.
13:45
So that was like the, you know, the silver lining throughout
13:47
that whole thing. But the big part to me that
13:50
sticks out was exactly what Nico said.
13:53
He said, you know, it's a, it's a solution looking for a
13:56
problem. And if you listen to what he
13:58
said throughout that whole thing, obviously 1, he talked
14:01
about stable coins, the pro, the programmability of payments
14:05
here. And then the second one was his
14:07
own JP Morgan coin and essentially was also again
14:11
framed in payment. So if you look at Bitcoin
14:13
through the lens of payments, then obviously it's a solution
14:17
looking for a problem. We've heard Christine Lagarde
14:20
say this a long time. It's like, hey, payments or we
14:22
need to update our payments infrastructure here at the
14:25
European Union, at the ECB, like we need to get into the 21st
14:29
century. And that's not what this is all
14:32
about. This isn't just about better
14:34
payments. This is not about more
14:36
efficiency in payments. And I was actually going to put
14:38
this pull this chart up later in the show during the culture, but
14:42
I think it's fitting to pop up here is this chart here.
14:46
This is what this is all about. This is a true flation US
14:49
aggregate inflation index and from 2020, January 2020 to
14:54
today, you've basically lost 30% of your purchasing power.
14:58
So this is this isn't about better payments.
15:01
This is not about efficiency of payments.
15:03
This is not about cheaper fees here.
15:05
This is about maintaining your purchasing power.
15:07
And so when you hear Jamie Dimon talk about this again, if you
15:11
take the lens of they know what the game is, they know they they
15:15
know what it like what time it is right now.
15:18
This is why they're always framing this in this idea of,
15:22
oh, it's for payment. We need to update our payments
15:24
infrastructure. We need to get into the 21st
15:26
century. It's like, no, this isn't about
15:28
better payments, guys. Like, yes, you know, you do want
15:30
the ease of use of like an Apple Pay or something like that, a
15:33
Venmo, a Zell. But this isn't about just better
15:37
payments here. This isn't the problem.
15:39
This is why they say it's a solution searching for a
15:42
problem. The problem is that we are
15:44
getting destroyed. Our purchasing power is getting
15:46
debased. We can't save in money anymore.
15:49
Like you can't save in anything if you are saving and the
15:52
dollar, you're getting left behind.
15:54
And so it is very telling when he goes on national news and he
15:57
starts talking about better payments.
15:59
You know, I like blockchain and stablecoins, not Bitcoin.
16:02
And I think are you going to play the Sailor Clip on
16:05
stablecoins? Later I'm going to totally play
16:06
the Sailor clip but but but what I wanted to wanted to add.
16:09
To so remember that bit and then and then we're going to talk
16:11
about it later. But what I wanted to add to what
16:14
you're saying, because you're dropping fire was, you know,
16:18
stable coins don't fix what you just described.
16:20
That's exactly the point. They don't fix that, right?
16:24
They don't fix inflation. They don't fix like we saw this
16:27
experiment, I forget what the name of the country was, but it
16:30
was this country in Africa. And they rolled out a CBDC and
16:34
no one adopted the CBDC and they actually arrested the Binance
16:39
executive and they were essentially accusing Binance of
16:43
causing like monetary instability.
16:46
But, and that's not what Binance was doing.
16:49
Binance was just providing an off ramp, right?
16:52
That's a keyword. And this is essentially what's
16:55
happening here is that Bitcoin provides an off ramp to that
17:01
system. Like like a stable coin is only
17:05
good if the to use it's own words.
17:08
I don't know if this is called a pun or something.
17:11
If the money is stable, right? And again, if you come from
17:14
Venezuela and you're dealing with double digit inflation, OK,
17:17
you're like, you know, this money ain't effing stable, bro.
17:22
But if you live in the US, as Opti has shown, you know, you're
17:27
getting destroyed in terms of how much purchasing power your
17:31
is, is being lost to you, right? So anyways, before we move on, I
17:35
did want to cover the kind of breaking news regarding the
17:41
announcement coming out of MicroStrategy, so I think.
17:45
It was Nigeria. I think he's right.
17:46
Here it was Nigeria. I appreciate it, appreciate yes
17:49
Sir in the labeling that, but essentially so this is a big
17:55
deal this week. So Michael Saylor strategy, they
17:59
had an earnings call and it's weird, dude, we dumped they're
18:03
they killed it. They had like $10 billion in
18:06
profit and unrealized like I think it was higher.
18:09
It was like it was 70. It was like a, a ridiculous
18:11
amount. And then right after that the
18:14
price of Bitcoin just fell off a Cliff, right?
18:18
So Michael Saylor's, you know, killed it with MSTR, and then he
18:25
released SSSTRK and then he released STRC.
18:32
And I'm going to kind of do a little bit of a breakdown.
18:33
I'll play you guys a clip after. But MSTR is what he calls
18:38
amplified Bitcoin. This is strategy.
18:40
They've turned their company into a Bitcoin vault on
18:43
steroids. When Bitcoin goes up, MSTR often
18:47
moves even more. It's like Bitcoin with leverage.
18:51
STRK structured Bitcoin. This is about strike.
18:55
They're building financial rails that use Bitcoin behind the
18:58
scenes. Payments, remittances, banking
19:00
solutions, turning BTC into actual global infrastructure,
19:05
STRC, treasury Bitcoin. Think of it as Bitcoin as a
19:10
corporate reserve asset. Companies are putting BTC on
19:13
their balance sheets like digital gold, making it part of
19:15
their long term financial strategy.
19:17
In short, MSMSTR amplifies Bitcoin Again, there comes risk
19:21
by you not having that Bitcoin in custody, Then there comes
19:25
risk of management. Obviously, I don't think it's
19:28
going to be an issue with Sailors company, but anyways,
19:31
STRK structures it for real world use and STRC looks in it
19:36
as a treasury reserve. Three different plays, one core,
19:39
one asset at the core, Bitcoin. So yeah, I mean, he's building
19:43
out an entire ecosystem to use Mark Moss's words to tap into
19:50
all these pools of capital that are all over the world.
19:53
And one of the things that that Mark Moss said when he came on
19:56
the show was basically like, Nico, like you have to
19:59
understand that 97% of the world's capital can't get
20:04
exposure to Bitcoin. And that's what Michael Saylor
20:07
is doing by building these specific products to tap into
20:11
different pools of capital. So I'm going to play you guys a
20:14
portion of the clip and then Opti and I will talk about it.
20:17
Is there ever? Too much Bitcoin for you to own,
20:19
Like if you could own all of it. I don't think we'll get all of
20:23
it. I, I don't think in the range of
20:26
three to five or three to 7% is too much BlackRock is I, I just
20:30
wonder, I was thinking about the, the mental exercise of if
20:33
you could actually own all of it, like if you would even bless
20:36
you if you would want it. Well, you know, we started and
20:39
we had. Very little and.
20:40
Bitcoin was 10,000 and now bitcoins more than 100,000 and
20:45
97% of the Bitcoin is worth 10 times as much and somebody else
20:49
not us has it. So it's a practical matter.
20:53
What we're doing is, is we're monetizing and powering up this.
20:59
I totally get it. I just mean, if you owned all of
21:00
it, would that change the entire?
21:02
We don't, yeah. We wouldn't want to own all of
21:04
it. We want everybody else to have
21:07
their peace. The nice thing there is there's
21:09
160 companies that are capitalizing on Bitcoin in the
21:12
public market, up from about 60 last year.
21:15
So the Bitcoin Treasury movement's exploding and
21:19
companies like Metaplanet in Japan and Capital B in France
21:23
and Smarter Web in the UK. And then there's a raft of them
21:26
in the US. Anthony Pompliano's company, you
21:29
know, and 21, they're all capitalizing.
21:33
The big idea is I take digital capital, I issue digital credit
21:39
and a digital credit instrument can either be longer duration or
21:43
it can be higher performance. We're offering 9% dividend yield
21:47
with stretch the average money markets 4.2% dividend yield.
21:51
No one would ever want to give a 9% perpetual yield in a in a
21:56
bond that's backed by real estate or backed by gold or
21:59
backed by any conventional Fiat asset.
22:02
But we're investing in Bitcoin and and my 20 year forecast for
22:05
Bitcoin is 30% a year ARR. So it's easy for us.
22:11
So I mean, yeah, this is he's basically, it's like he's
22:17
essentially going to the capital markets coming up with all this,
22:21
for better or for worse. People have different takes on
22:25
this, right? This is, this is the Oh my God,
22:29
this is, I feel like the the thing this cycle is the Bitcoin
22:35
treasury place. That's what The thing is.
22:38
Every cycle, there's a thing this this cycle is the Bitcoin
22:43
treasury place. That's the cycle, right?
22:45
That's what everyone is focusing on.
22:47
Now, what makes it fundamentally different compared to all the
22:50
other cycles is like the ice. The Icos of 2017 weren't backed
22:57
by anything. The layer one alts of 2021.
23:05
I would make an argument as a Bitcoin aren't backed by
23:08
anything. Or you know, you could change
23:11
the rules to the benefit, the foundation or what not.
23:14
But you know, again, if you want to buy an buy an altcoin, that's
23:18
your choice. We obviously recommend Bitcoin
23:20
only here at simply Bitcoin, but what I'm seeing this cycle is
23:24
the treasury place. Now what's really interesting
23:26
about how Sailor is approaching it is again, it's a three fold
23:32
strategy offering different products for different people,
23:36
right? 9% dividend, 9% return is
23:42
absurd. I can't, I can't, I can't like I
23:46
can't break this down enough. Like a 10 to 12% return on a
23:51
yearly basis is considered good. A 9% return is insanity, right?
23:58
And again, this is like guaranteed, kind of, you know,
24:02
guarantee if Bitcoin continues to grow, of course, but like,
24:05
and it stays decentralized and secure, but it's like, it's kind
24:07
of like, look, we'll give you a 9% return now you're like, dude,
24:10
that's insane. How's MicroStrategy going to be
24:12
able to afford that? It's because their sailors
24:16
prediction is for the next 20 years, bitcoins going to grow on
24:19
average 30% year over year. So he's like, look, this is a
24:24
this is a super, super safe bet, right?
24:27
So, yeah, I mean, this is the financialization of Bitcoin as
24:31
bitcoiners, I would say keep your eye on the prize and that's
24:35
Bitcoin in self custody. And I know that might be the
24:39
unpopular thing to say these days because again, the treasury
24:44
companies are the ones that are getting all the attention, all
24:46
the hype. But yeah, I mean, fundamentally
24:50
it comes down to individuals taking Bitcoin into self
24:52
custody. But from a price action
24:54
perspective, that's crazy. Opti like I was I'm reading
24:58
these headlines like strategy beats Q2Q2 earnings estimates
25:04
Bitcoin stockpile valued at $73 billion, another 10X it's
25:12
trillion dollars worth of Bitcoin and you know what the
25:15
price did? It dumped it dumped bro and then
25:21
I by the way, yesterday too sign coincidence.
25:24
I was on the same day the US government wink winked at
25:28
basically saying, hey, we might be buying some Bitcoin under the
25:31
table and the price dumped, bro. It dumped.
25:36
What's going on, dude? What's going on bro?
25:39
Chat nailed it. It's the Cramer effect, dude.
25:41
Jim Cramer called it. When he went on.
25:46
Dude, who knows what's going on with the price is undefeated.
25:49
Yeah, chats undefeated right now.
25:51
I literally, look, you guys know, I'm stupidly bullish and
25:56
we were talking about like, I don't know if the price I I
25:58
don't like, I don't know, Nico, if you were watching the price
26:01
and you saw that it dumped right after the earnings call and I
26:04
did see some people basically talking about it on Twitter.
26:06
It's like they're doing everything they can to kind of
26:08
try to liquidate Sailor and MSTR.
26:11
And then in the earning call you basically said like the price
26:14
can go down 80% and we're still going to be freaking perfect.
26:17
And even if it goes down further, they, they got like, I
26:21
don't know, some tools or mechanisms to make sure that
26:23
they're the stockholders are, are safe.
26:26
So who knows exactly what's going on with the price right
26:29
now. But it does look like someone is
26:30
trying to dump the market, especially right now in the face
26:33
of what we saw. You know, we had three big
26:35
things play out on the same day. Like we just played in the
26:38
beginning of the show. We had Jamie Dimon come out do
26:40
the blockchain, not Bitcoin. I like stable coins.
26:43
We had the report, you know, 166 page report come out from the
26:47
working digital asset working group, AKA like the US
26:50
government. And then of course, what is
26:52
seemingly a super bullish earnings call where I don't know
26:55
if you saw this Nico, but Saylor basically said during that call,
26:58
I didn't catch the whole thing. I just kind of caught some
27:01
highlights of it. He's like the stretch product,
27:03
the stretch preferred stock is our iPhone moment.
27:06
And I think, I think this is kind of the, I don't know, I am
27:10
going to take kind of a little contrarian view from what Nico
27:12
said when we first started this whole like corporate Bitcoin
27:16
treasury hype cycle. I was fully on board with the
27:20
idea that like the Bitcoin corporate treasury strategy or
27:23
or stocks is the new shit coin of this cycle.
27:26
Now what I'm seeing from what Sailor is doing, like I don't
27:29
know if you guys are following his buys.
27:31
Dude, he what this this week alone, he did a $2.4 billion buy
27:35
and then literally last night he announced a $4.2 billion buy.
27:39
And I believe these are all for the stretch product, what it's
27:43
really showing and is what Nico said a minute ago, the returns
27:48
that Sailor has, however you want to put it, you know,
27:51
engineered here with these products, it is driving Wall
27:55
Street and institutions and all this capital that is locked up
27:59
crazy. They're looking at these
28:01
products and they're like, yo, what do I, what do I want to do?
28:04
Do I go into kind of the traditional vehicle when I get 4
28:09
to 5% returns maybe? Or do I just play into this new
28:14
instrument that sailors doing and I get net 9% like
28:18
guaranteed. And I think what we're seeing
28:21
right now is there's an insatiable demand from all of
28:24
this locked up liquidity that literally is it's got red tape
28:28
around and sailor has just plugged into it.
28:30
And I keep thinking of the milkshake.
28:32
You know, I'm drinking your milkshake meme here.
28:34
Like I, I think This is why I, I find it funny that the price is
28:39
dumping right now because now Bitcoin is plugged into the
28:43
biggest capital pools in the world and we are still kind of
28:48
reacting almost like a bear market right now.
28:51
You know, are we double topping is really the big kind of
28:54
question right now. And when when I look at all the
28:58
news and all the products and all of the positioning around
29:02
Bitcoin right now, it just makes no sense to me that we are
29:06
double topping right now. Like yes, you know, I still have
29:09
my buddy Dming me. That's what happens every cycle.
29:12
Though I know. There's a denial.
29:13
Phase exactly only. Realized that three months ago.
29:16
Like, oh, it's over. Exactly like I'm still getting
29:18
DMS from my friend like dude I told you it was going to dump
29:22
it's going to 115 it might even go down to 75 K or something.
29:26
It's like bearish division on the daily or whatever.
29:29
Like monthly looks strong, the daily candles look horrible.
29:33
And I'm I'm like, dude, like your chart bowling means nothing
29:37
when you are tapped into the biggest liquidity pools period.
29:41
So you know, we're getting trolled in the chat right now.
29:42
Like we're we're liars if it doesn't get to 500 K.
29:46
I'm looking at what what I'm looking at is like this is just
29:50
the beginning of capital flowing into Bitcoin.
29:53
We've had the crazy, you know, 6 month start of the year, a lot
29:57
of conversations around Bitcoin, Trump coming in with a huge
30:00
splash. We're seeing basically every
30:03
huge bank in the world right now capitulate on Bitcoin.
30:06
We're seeing a lot of country jurisdictions around the world
30:10
that were famously and historically against Bitcoin
30:12
start to capitulate and bend the knee.
30:16
It just, it makes no sense to me that we're not going to go
30:20
higher. And again, I just keep thinking
30:22
of the Titanic meme, you know, like it takes it takes the.
30:25
Big. Capital like it takes a lot of
30:28
moment, like it takes them a while to turn around the ship.
30:31
And I think this is where we are right now.
30:33
The ship is is starting to, you know, pivot and move around.
30:37
And until we get something, maybe it's going to be, you
30:40
know, maybe all the bankers and all the institutions are on
30:43
summer break right now and, you know, Saint Barts or something.
30:46
And when they come, when they come back to work, is when the
30:49
capital really starts getting injected.
30:51
I mean the summers tend to be always a little bit quiet.
30:54
By the way guys, if you guys are enjoying the show so far smash
30:56
that like button help us break 150 likes within the 1st 45
31:01
minutes of the show. So if you guys are enjoying the
31:03
live stream on YouTube X Rumble smash that like button really,
31:08
really helps the algos to push this message forward.
31:12
Anyways, guys, before we continue to the next segment, I
31:16
want to do a little bit of a breakdown on what we're going to
31:18
cover today. Awesome Bitcoin media being
31:22
dropped. Fantastic.
31:24
So we have we're going to be doing a coverage of that.
31:27
And then also as well, we're going to be talking about how
31:32
it's, I don't know if you've noticed this Opti, but a lot of
31:34
these platforms are basically starting.
31:37
They're going to be starting to ask for I DS.
31:40
That is terrifying. And then of course, they're kind
31:45
of using it. They're kind of using the excuse
31:47
of like if cuz it, this is how it always starts.
31:51
That's what you guys have to understand.
31:52
Like you get your foot in the door a little bit.
31:55
It's extremely difficult to roll these things back.
31:58
And I think what they want to do is they want to tie your ID to a
32:02
platform so that if you say anything on that platform, what
32:07
happens? They could tie it to your ID,
32:09
right? They don't want anonymity on the
32:11
Internet. And then that what that does is
32:15
what happens in in what happens in, in China, like people self
32:18
censor, right? You get, you get penalized a
32:21
little bit. Like in the UK, this is already
32:23
happening. Like if you post a certain
32:27
Facebook post and again, it's, you know, in America, like we're
32:33
protected by apparently we're protected.
32:35
I don't know if that's the case, but you know, in America,
32:37
they're, we're supposed to be protected by the 1st Amendment.
32:41
Other countries don't have that, right.
32:43
So in the UK, if you post certain types of speech, you
32:47
know, you can literally they can show up at your house and put
32:51
you in a box, right? So they don't want anonymity on
32:54
the Internet. And as Bitcoiners, we approach
32:56
it as anonymity. You, you can't, you can't be
33:02
free without privacy. You can't be free.
33:06
And this idea that you have this, that you, you, you have to
33:09
reveal your identity to be able to communicate on the Internet,
33:12
I think is absurd. And this idea that, you know,
33:16
you have to be Id'd in order to transact, that's how you go from
33:20
a permission list system to a permissioned system, right?
33:26
So that's what I wanted to. That's like the kind of the core
33:28
theme I wanted to cover on today's news and then Opti's
33:30
going to end it strong with the culture segment.
33:33
We're going to. Go bullish is bullish Friday, so
33:36
guys it's going to be. And then I'm dunking on my
33:38
friend. It's going to be an incredible
33:39
show, but before we jump into it, I do want to give a shout
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Simply you can scan the QR code or check the link in the video
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podcast description. All right, everybody, let's
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start the show. We will be right back.
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All right, everybody, At the time of recording, the Bitcoin
37:49
price is $114,560 block height 908,127 SAT's per dollar 873
37:59
SAT's per dollar Market cap 2.28 trillion Bitcoin versus gold
38:04
market cap 9.66% Decline from all time high -7% Realized
38:11
monetary inflation .84% again, continuing to take Fiat currency
38:17
to absolute school. I thought I, I found this piece
38:20
of Bitcoin media. I thought it was absolutely
38:23
fascinating. Let's check it out.
38:28
We ain't got no troubles, no reason to complain because here
38:31
in Great Old Britain, we just love it when it rains morning.
38:35
We're cozy here at home. Even though it's not our
40:28
I mean, other than the, I'm not a musical type of guy, but that
40:34
is a a very expensive commercial.
40:38
And yeah, I mean, it is genius. I mean, it's kind of describing,
40:43
you know, what we're all feeling.
40:45
And yeah, it's the broken money. And again, one of the most
40:49
powerful ways of telling the story of broken money is by
40:52
making media. So yeah, I mean, yeah.
40:56
And musicals are not my thing. But that was a very expensive,
41:02
that was a very expensive piece of of of commercial bro.
41:07
That was very expensive. Yeah, that also.
41:10
Too Like what I find? Sorry to interrupt you, but what
41:12
I find, what I find hilarious, Opti is like you go to Coinbase
41:17
and it doesn't fix anything because it's all just all all
41:19
coins. And and the platform goes down
41:23
when it's when the price is pumping.
41:26
That was an AI. That was an AII.
41:29
Don't think it was. I don't know.
41:30
No, that was like real. That was a real production.
41:32
That was that was an AI dude. Who knows that that's not my
41:37
take away. My take away is the first part.
41:39
I'm not a musicals guy at all. I'm not going to lie, guys, I
41:43
saw this on Twitter last night and I watched the first minute
41:46
and I'm like, OK, like I, I, I didn't even finish the video, so
41:50
I didn't see the second-half. Everything is.
41:52
Just fine. Everything is just fine.
41:55
But it did remind me of the the dog and then the burning house
41:59
meme. And though I do like the fact
42:02
that we're dunking on, you know, the UK.
42:04
You guys know me. I, I love dunking on the UK.
42:08
I love all you guys. But hey, you know.
42:11
We, we love you. It it might, it might just be, I
42:15
don't know, the Americanism in me.
42:18
I love, I love the dunk Coinbase.
42:20
I love the dunk, Brian, but if, if you really kind of like read,
42:27
well, actually listen to the lyrics there and, and read into
42:30
what they're saying. It's what I've been saying on
42:33
the show for a long time. If you are in the EU, if you're
42:36
in Britain right now and UK, etcetera, and you think
42:39
everything is going just fine, you know, maybe you're being
42:42
sidetracked and distracted by other cultural phenomenons going
42:46
on right now or social media or whatever.
42:49
The real problem is that the money is absolutely broken right
42:53
now. And so as Nico was saying that I
42:57
don't know how the production was made, but my guess is that's
43:01
what like $1,000,000 AD right there.
43:03
And in that context, I guess some musical probably fits if
43:07
it's going on television or something like that.
43:10
But I'm not much of A musical guy.
43:11
I literally, I flipped it off. But it is high production.
43:15
By definition, that means it was a badass.
43:17
Well, I'm I'm not the target audience here, you know, I'm not
43:21
the target audience. Who is the target audience?
43:23
That's what that's my question. Where is this landing?
43:25
Where is this going? Where did it first premiere?
43:29
I'm doing it. Was great.
43:29
It was good production. It was great production, but you
43:33
know, I'm not much of A musical guy.
43:34
I I turned it off. I mean, I've seen some musicals.
43:39
They're good. I've seen.
43:41
Some I know too. I could appreciate the art in
43:43
musicals. Tommy and Jesus Christ Superstar
43:47
are the best musicals ever. I could.
43:48
Appreciate the art in some in some musicals.
43:52
I got to see Hamilton. That was pretty cool in New
43:55
York. Shout out the Hive team.
43:59
But yeah, anyways, we need more of this because there are people
44:04
that do connect with musicals, unlike me and you, Opti.
44:07
Dude, I have AI have a Grinch heart here guys, I'm broken.
44:10
It didn't grow 3 sizes on that ad, but you know, kudos to them
44:15
for trying. You know, again, we're not the
44:17
target audience, but maybe what is it?
44:20
Downey St., Downing, Downing, Downing St., Maybe Downing
44:24
Street is. It's not I.
44:27
See someone in the chat saying the commercials.
44:31
They. Do make commercials.
44:33
They do make commercials. Anyways, guys, it's going to be
44:36
an incredible show. We still have tons to talk
44:38
about. We're going to be talking about
44:40
linking the IDs to social media. It's a the very, very slippery
44:44
slope. And then I do have a different
44:46
take from Lola Litz basically talking about how, you know,
44:51
some people are hoping that Trump will pardon the samurai
44:54
wallet developers and he's just laying out some of some of these
44:59
things that were included in the clarity act.
45:03
And again, it doesn't sound all that great.
45:06
So very important updates and then opt he's going to fill it,
45:10
finish it strong for you guys with a bullish, bullish, bullish
45:16
ending. So let's check it out and we
45:18
will be right back in just one second.
45:21
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sat123.com/simply today. Alright everybody, so I do want
47:40
to talk about this. So this is Zach, goes by the
47:44
name of Zach Professional neckbeard is how he calls
47:47
himself. He says real ideas in Apple.
47:50
That's Osman Gold. He's one of the biggest
47:51
streamers, like video streamers. I'm seeing by his.
47:56
I get it, but Osman Gold is a huge streamer.
47:58
He's a, he's a professional neckbeard as well.
48:00
I get that. But he's like one of the biggest
48:03
live streamers, like video. He's I think he transitioned
48:05
from live video game streaming. So he's huge.
48:08
This guy's huge. OK so he's talking about
48:10
Internet so he has a lot of influence.
48:12
So he says Internet ID is inevitable, especially for
48:15
social media. Denying this is might.
48:18
Denying this is might feel good, but it is a lie and you know it.
48:22
What isn't inevitable is private companies having access to our
48:26
public record. The best solution is a
48:30
government authentication token that only verifies info, Elon
48:36
Musk responded. Government is much worse than
48:39
any corporation. Or you don't understand
48:41
government. Government is simply the most
48:42
powerful corporation and with a monopoly on violence as Zach
48:47
goes on, I'd be fine with a third party authentication token
48:50
as well. I just don't see how you
48:52
reconcile the growing demand for online accountability and in any
48:56
other more constructive way. the US isn't even bad compared to
49:00
other places, especially in regards to speech regulation.
49:04
Right? And I might be a little bit
49:05
biased here, but I don't think speech should be regulated at
49:08
all, right? I think you should be allowed to
49:11
say what you want to say as long as it, you know, doesn't call
49:14
for violence or, you know, anything like that.
49:17
But if you have an opinion regarding a policy that your
49:21
government has, I think you should be able to talk about it.
49:24
So I think we're heading rapidly heading into a world where you
49:29
hear this from Spotify, from from YouTube.
49:31
And the way they're kind of like justifying it to, to roll it out
49:34
is basically saying like, we just want to verify your age,
49:38
right? But then you could see how one
49:40
thing leads to another, right? And then again, like, like, you
49:47
know, one of the things that makes X great and what makes
49:51
primal great is the fact that there are anonymous accounts.
49:56
Like Satoshi was anonymous for a reason, right?
50:01
So again, you know, interesting. And I I just don't think the
50:05
government should have any business.
50:08
Oh, that's a great video. Thanks, Opti.
50:10
I don't think the government should have any business at all
50:13
at all. Basically requiring people's ID
50:19
to use social media. That is utterly insanity.
50:23
That is insane, right? And then to kind of connect it
50:27
with Jeff Booth in the way that he makes the case for all this
50:31
is he makes the case that look like Nico in a coercive system,
50:35
like Fiat, the coercion is going to continue to get worse and
50:40
worse and worse and worse in order to continue enabling that
50:45
said system. But you know, in a Bitcoin
50:52
system, it's not coercion isn't required, incentives are
50:57
required, right? So yeah, I mean, it's
51:01
unfortunate. Last bit I want to hit is Lola
51:04
Lee's piece, kind of a follow up to the news that we were
51:07
covering yesterday. So she goes on to say, by the
51:11
way, for anyone who doesn't know who's just tuning into the show,
51:14
the samurai wallet developers pled guilty to one of the
51:17
charges. A lot of people are speculating
51:19
or reasoning that it's because they struck a deal with the
51:24
government to get a lesser sentence.
51:28
But she's making the case that a lot of people seem to have have
51:31
the hope that Trump will pardon the Samurai wallet developers.
51:35
While waiting for the Storm verdict, I took some time to
51:38
read through the White House Digital Asset Report to see what
51:42
this administration thinks of financial privacy.
51:45
And my guys, if you still believe that the Trump White
51:48
House is in any capacity friendly to these undertakings,
51:52
you are in for a very rude awakening.
51:56
Effectively, the White House urges Vincent to deem all
52:00
privacy measures and digital assets a quote primary money
52:04
laundering concern under the Patriot Act.
52:07
This includes single use addresses, wallets and accounts,
52:12
swapping between networks and chains, mixers, obviously
52:17
pulling or aggregating cryptocurrencies for multiple
52:20
wallets. May many will say now, many will
52:23
now say, oh, but there's so much good language in the report as
52:27
well, like the protection of self custody.
52:29
That's true, but the protection of self custody is contingent on
52:33
the lawful exchange of assets between users.
52:36
That's why the White House additionally urges to extend
52:41
the. I just don't want to say that
52:43
again. But yeah, I mean, Lola Elites
52:49
has been so accurate on this bro, that like I don't really
52:52
have anything to say, but like you kind of connect this with
52:55
the whole digital ID stuff and Bitcoin is slavery.
53:01
That's my, that's my take on this.
53:05
You want to play the. You want to play the.
53:06
Video, it's up, it's up all right.
53:07
So at the same time that we're covering this and you know,
53:12
talking about Bitcoin, privacy, digital IDs and stuff, we had
53:16
Ursula van der Leyen say this I believe yesterday.
53:20
This is actually a video of Nigel Farage talking about it.
53:24
So, but it it fits in the in the context perfectly.
53:28
The European Commission president, Ursula von der Land,
53:30
perhaps the most prominent advocate of that dreaded COVID
53:34
passport, was out there advocating that we all have to
53:37
have digital IDs because the future will be digital.
53:40
You shouldn't have privacy, apparently.
53:42
Yeah, that's what she believes. She claims that the IDs can be a
53:45
real booster to emerging economies.
53:48
The trick is to build public digital infrastructure, she
53:51
said, that is interoperable, open to all and trusted.
53:56
Joining me now to explain just how dangerous this is, Nigel
53:59
Farage, former Brexit Party leader.
54:01
Nigel, this is about global government control and a way to
54:06
what? Redistribute the wealth away
54:08
from the so-called wealthy nations to everybody else?
54:12
Well, it's about control, isn't it?
54:13
I mean, this is the most glaring example we've ever seen from a
54:17
prominent world leader. Von der Leyen is the president
54:21
of the European Commission, 450 million people living within
54:24
that union. Owen, by the way, she's
54:27
unelected. She's appointed.
54:29
And here she is brazenly saying we need a digital ID card or app
54:35
on our phones. Now bear in mind France and
54:38
Germany are trying this already. The European Union, she wants
54:43
this to be enforced by the early twenty 30s.
54:46
And may I add? Backed up by a central bank,
54:50
Digital. Currency living in a cashless
54:53
society and now she wants the whole thing to go global.
54:57
Can you imagine on this ID card will be not just your date of
55:03
birth, your gender, your eye colour, your height, your
55:08
approximate weight, there will be your vaccine status, your
55:13
financial status and goodness knows what else will be on that
55:18
card. Can you imagine this data
55:21
falling into the hands of bad actors?
55:24
And if you think about it, and I speak to somebody, I speak to
55:28
somebody who's recently been debanked as a result of his
55:31
political opinions. And this is happening in America
55:34
too, as you well know to lots of people.
55:37
If we're not careful, we head towards a Chinese style social
55:41
credit system where unless you go along with the views of the
55:44
day, you become a non person. I cannot think of a more
55:48
dangerous initiative than this. The problem we've got is we have
55:52
to ask a question whether our leaders actually believe in our
55:56
nation because they're prepared to surrender sovereignty to the
55:59
World Health Organization, the United Nations, the EU.
56:03
And goodness knows what comes after that.
56:05
And the truth of it is, the world will be a better that.
56:09
That's terrifying and I don't know if you guys saw the
56:12
commercial on like the the right hand side, which is like, you
56:15
know, they had like a younger person.
56:16
It's like it makes your life easier, like you owe nothing in
56:19
behalf. Like it's like, you know, it is
56:22
such a terrible idea. It is such a terrible, terrible,
56:28
terrible, terrible, terrible. I'm going to keep saying this.
56:32
Terrible, terrible, terrible, terrible.
56:34
And again, for what reason? What reason?
56:38
And the reason is so simple. They don't want to be
56:43
accountable. This is what it comes down to
56:47
when they can control you, when they can get you to self censor
56:50
your speech, you're no longer you no longer speak up, right?
56:56
Could you imagine if your wallet was tied to your ID and then you
57:00
said something on social media criticizing the current policy
57:04
like, you know, and then all of a sudden your wallet gets frozen
57:07
like that. That is in essence with CBD, CS
57:10
and digital IDs are going to enable.
57:12
And this isn't just me speculating.
57:14
This is exactly what they have in China.
57:16
The free world shouldn't be looking at what the Chinese
57:21
Communist Party is doing and saying we want to copy that.
57:25
That's terrible. That's a horrible idea.
57:29
Horrible in so many different ways.
57:31
Like we all know how this is going to end.
57:34
So we really have, you know, it's really there's a fork in
57:38
the road. We either go the side of
57:42
permission lists, protocols like Bitcoin, This is why taking self
57:46
custody is so important, permissionless protocols like
57:50
Noster, or we can continue to head down this route because
57:53
this is where it's going to end, right?
57:56
And and I'm super happy with with with the platforms that are
58:00
putting up a good fight like Rumble and like X, right?
58:05
But look at how much pressure they have from governments to
58:09
censor to basically stample out any type of dissent.
58:14
And it's only because they have incredible leaders that they can
58:18
resist that. But all the other platforms in a
58:20
way, you know, they kind of have to fall in line, right?
58:24
So, yeah, it, it, I, it would, it's a terrible idea, bro.
58:28
It's my two sides Opti. Yeah, it's absolutely insane
58:34
what we're seeing come out of the mouths of either the
58:37
European Central Bank and the European Commission that it it
58:42
what is correct. What is really crazy to me,
58:44
though, is the timing of all of this stuff.
58:46
So literally on the same day that Trump, or rather the
58:50
Digital Asset Working Group gets released.
58:52
And yes, it's not perfect, which is kind of what I've been saying
58:55
for a while. And yes, there's some things
58:57
that make me feel uncomfortable, like what Lola Leads was talking
59:02
about. I kind of mentioned it
59:03
yesterday. I'm glad we brought Lola Leads
59:05
back up today. It is interesting the dichotomy
59:08
we're seeing right now that for better or worse, whether the
59:11
regulations are perfect or not or the regulatory framework, the
59:15
kind of recommendations are perfect or not coming out of the
59:18
US. You are seeing that they are
59:20
trying to at the very least embrace Bitcoin though They are
59:24
kind of trying to put out what is it a square in a, in a round
59:28
peg or a round peg in a square peg around whatever you guys
59:31
know that mean. At the very same time we see
59:35
this this huge push coming out of the EU for digital IDs and
59:39
CBDCS. And the opposite is our
59:43
administration base saying we will never create ACBDC, though
59:47
they are saying, you know, private stable coins so.
59:51
I wouldn't consider them CBDCS. The the audience might argue
59:56
different I I have different they're not.
59:58
Issued by the. Government, I get that.
1:00:00
I get that. I totally.
1:00:01
Get that, yes, you can still freeze funds, but again, like
1:00:05
the the whole concept of the CBDC is basically like your bank
1:00:08
account is with the government completely.
1:00:11
Connected everything else, yes exactly they're.
1:00:13
Stable coins, like they're like they, they act totally
1:00:16
different. So I, I agree and I would say
1:00:18
stable coins are a Trojan horse for Bitcoin.
1:00:20
That's that's my, that's my prediction.
1:00:23
Yeah, no, they just the crazy comparison here and it really
1:00:27
does look like the EU whatever they're doing and we see we saw
1:00:30
kind of candidate do the same thing.
1:00:32
They're they'll literally do the exact opposite of what the Trump
1:00:35
administration is doing just to you know, quote UN quote spite
1:00:39
Trump. But in reality they're they're
1:00:41
what's it you know, cutting off their nose or whatever what you
1:00:44
got. I'm I literally can't think
1:00:45
today to spite their own face. I think is is the same, but it
1:00:50
just it's not looking good. And the last thing though, Nico,
1:00:55
that I find interesting is we're constantly hearing this date
1:00:58
20302030. This will be out by 20-30.
1:01:00
Everything will be out by 20-30. And on the flip side, all of us
1:01:04
Bitcoiners are like by 20-30. It's probably going to be game
1:01:08
over either Bitcoins going to be in the seven figures plus by
1:01:12
then and everyone starts to use Bitcoin and trust in the
1:01:15
institutions are at the lowest levels they've ever been or or
1:01:18
in a fully digital IDCBBC future.
1:01:21
This is why we constantly say it is Bitcoin or slavery because
1:01:25
the writing is on the wall. And if you're not fully tapped
1:01:28
in, if you're not internetting too hard and you're not on
1:01:31
Twitter like all the rest of us, you might be walking into a
1:01:35
trap. And you can see the trap being
1:01:37
laid down perfectly very clearly right now.
1:01:40
And this is all to spite Bitcoin.
1:01:42
This is all kind of their ways to to combat what's going on
1:01:46
over here in the space that we're all a part of.
1:01:49
It's like we'd we are slowly but surely eating the world's
1:01:53
capital onto a more decentralized, permissionless,
1:01:56
censorship resistant monetary system.
1:01:58
And at the same time, what do the people that don't want to
1:02:02
see that happen, they double down on the broken system that
1:02:05
that hasn't worked, or rather maybe has worked really good by
1:02:08
the design that it was initially created with.
1:02:11
It's just very interesting to compare the two, Yeah.
1:02:13
Absolutely. I completely agree with you
1:02:15
guys. If you guys are enjoying today's
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1:02:24
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freedom All right everybody, we are back Opti has something all.
1:04:34
Right, All right, I got Diamond. Yeah, yeah, I got some bull
1:04:37
sauce. I've actually been repeated to
1:04:40
huddle because he's the only one I've seen really hit on this and
1:04:43
I and I'm starting to lean into what he's saying.
1:04:45
And also I, as I told you earlier, I got the text from my
1:04:48
buddies saying 100 what, 23 K is tops.
1:04:52
And like I laid out the case earlier, that just makes no
1:04:55
sense to me when you are looking at all the interest, the new
1:04:58
investors, the supposed capital that's going to get injected
1:05:02
into Bitcoin, the new framework in the US and of course, the
1:05:06
best performing ETF to ever hit the market, AKA the Bitcoin.
1:05:11
I bit ETFI believe it was just that one.
1:05:13
But anyways, Mitchell has been beating the drum on this and
1:05:16
shouts out to our Zoomer buddies out there.
1:05:18
Hold on, well, I'm choking, I got a hair in my throat or
1:05:22
something. Mitchell goes.
1:05:23
I don't understand how someone can look objectively objectively
1:05:26
at the chart of Bitcoin slash USD and not recognize the
1:05:29
drastic shift in price action after the creations of the ETF.
1:05:33
Again, I brought this up before he is going hyperbolic here,
1:05:36
which is going to be a good good argument here.
1:05:39
A good conversation quote. The cycles are over.
1:05:42
Future bear markets will be roughly 30% drawdown and we'd
1:05:46
hardly call that a bear market by Bitcoin standards.
1:05:48
And with institutional capital comes institutional instruments
1:05:51
and institutional behavior, which is what we kind of covered
1:05:55
the other day make a nice gain on Bitcoin.
1:05:57
Historically, the only way to quote, hedge or take profits was
1:06:01
to sell catalyzing bear markets which were exasperated by panic.
1:06:05
Now there's no shortage of instruments to hedge Bitcoin
1:06:08
slash USD exposure after a bull run you can sell ibit calls the
1:06:13
BlackRock ETF or buy ibit puts in kind.
1:06:16
Redemptions will make this seamless even for those who keep
1:06:19
their fashion cold storage or you rotate into Stretch or
1:06:22
Strife, which will ultimately funnel that capital back into
1:06:25
Bitcoin. Moreover, the new cohort of
1:06:28
Bitcoin investors, AKA the suits, aren't looking for 1000 X
1:06:31
returns in a year. They're used to Treasury bonds
1:06:33
and S&P returns. If they're up 50 to 100% in a
1:06:36
year on Bitcoin, they're going to heads themselves.
1:06:40
Passive inflows into corporate Bitcoin adoption, MSR inclusion
1:06:43
in NASDAQ and other indices will also provide downside support.
1:06:47
Yes, Bitcoin will remain volatile relative to traditional
1:06:50
assets. Yes, Bitcoin will outperform
1:06:52
traditional assets and, and this is the hot take here.
1:06:56
No, Bitcoin is not going up to 2000% in the year like it did in
1:06:59
2017. And that's OK.
1:07:01
The only people raging at this take are those who aren't fully
1:07:04
ported into Bitcoin. But Bitcoin putting up a 30%
1:07:08
kegger for the next 10 years will make you sufficiently
1:07:11
wealthy if you are sufficiently long.
1:07:13
And again, he's been highlighting this, this exact
1:07:16
chart for a while. The fundamental kind of change
1:07:19
in the market, you're seeing of course the first cycle, a boom
1:07:22
and bust cycle, just huge gains upwards and it crashes for a
1:07:26
prolonged bear market. Again, another huge jump up,
1:07:30
again another prolonged bear market.
1:07:32
It gets a little bubbly. And then the last cycle where we
1:07:35
kind of double topped and then we hit the bear market.
1:07:38
But the fundamental shift here is which is what we're all been
1:07:40
kind of looking at right now is the market does look different.
1:07:44
And I've been comparing it to the S&P 500.
1:07:47
If you look at the S&P 500 Bitcoin, literally it's it the
1:07:50
the structure of the Bitcoin price right now is identical to
1:07:54
what the S&P 500 looks like. And I think Mitchell has a point
1:07:58
with the new institutional investor, with the suit coiners
1:08:01
coming into Bitcoin, they are also bringing all of their
1:08:04
institutional know how their institutional instruments, their
1:08:08
trading strategies. And I think this is what we're
1:08:11
kind of seeing now. Does this mean we're going to
1:08:15
get a huge bear market again, I'm kind of on the side that
1:08:18
we're not. It's starting to look like it's
1:08:20
probably just going to be this boring kind of straight line up
1:08:24
forever up and to the right and is that is that necessarily a
1:08:28
bad thing? Probably not.
1:08:30
I think it would make our lives here as bitcoiners that are all
1:08:33
in on Bitcoin a lot, You know, less volatile bear markets won't
1:08:38
be as as rough on us. At least I'll rough on our
1:08:41
stack. But then I think we're going to
1:08:43
have to adjust our dopamine receptors and find, you know,
1:08:47
find, find real. Possible.
1:08:48
Yeah, find real dopamine in real life, you know, maybe some
1:08:52
healthier amounts of dopamine from somewhere else, which I
1:08:57
mean, maybe maybe we shouldn't be too against.
1:08:59
But I also saw this and you guys know I love Charles Edwards.
1:09:03
I think he's got great insight, great indicators.
1:09:06
Highly recommend you follow him on Twitter.
1:09:08
He's been around for a long time.
1:09:11
He is kind of beating the drum on the same idea.
1:09:14
And I've showed you the chart. I believe it was last Friday, I
1:09:18
think it was last Friday of the idea.
1:09:21
Like institutions are eating plebs lunch right now.
1:09:24
The institutions are scooping up all the Bitcoin while retail
1:09:28
Main St. Bitcoiners are selling their
1:09:30
Bitcoin right now. And it might because we're all
1:09:32
just, you know, 100% in we have we have no other money.
1:09:36
But anyways, his tweet goes, institutional net buying just
1:09:39
breached 97% of all transactions.
1:09:42
I repeat, institutional net buying, again, institutions just
1:09:48
breached 97% of all transactions.
1:09:51
The last time net buying by the pros was this high was August
1:09:54
2020. Those who know, no.
1:09:57
And then he, you know, plugs his indicators.
1:10:00
So I don't know. Let's see, let's go back here.
1:10:03
August 2020 was what maybe right here guys some I hope so.
1:10:11
If this is the case, I don't know.
1:10:13
It looks like we're going to have a lot of room to run here.
1:10:16
It looks like we're going to have an incredible end of the
1:10:19
year. So I promise some hopium.
1:10:22
This is a new direction of hopium here coming from a
1:10:25
different angle. But yeah, to my buddy that says
1:10:28
we're only going to, you know, stop at 1213150K top because of
1:10:34
the bearish dibs on the daily. Bro yo quit smoking.
1:10:38
What's the what's the antihopium?
1:10:41
I don't know man. I'm some some actual.
1:10:44
I'm just. I'm just smiling.
1:10:48
I don't know. Bullish, bullish, bullish.
1:10:50
Bullish, I would say too, like I refuse to believe this is a
1:10:54
double top. You know, like it.
1:10:55
It would just be weird. You know, if we're already
1:11:00
topping, that would mean the market top is 123, the most
1:11:03
pathetic bull market. You pull that up again, the most
1:11:06
pathetic bull market in Bitcoin history while being invested in
1:11:09
the institution in the entire. That's what I'm trying to tell
1:11:11
you, dude. Like it doesn't make listen,
1:11:13
listen, listen, Michael Saylor, Donald, like President Trump
1:11:19
government interest, you're seeing the regulatory certainty
1:11:22
and then you're telling me we're heading into a bear market after
1:11:24
that. Like it doesn't make sense.
1:11:27
Another thing is I'll say is this is paper Bitcoin summer,
1:11:30
bro. You know, So like there's I I
1:11:33
wouldn't be surprised if there's some shenanigans that were
1:11:35
happening in the back end. I also think that like Larry
1:11:39
Fink and Saylor and Trump, like they're all not going to be very
1:11:43
happy if their bags dumped 50% right?
1:11:47
I'm going to. I'm literally going to be super
1:11:49
mad if Trump's 150K promise doesn't come in like tomorrow.
1:11:54
Yeah, yeah. I like he promised us we're
1:11:57
going to get tired of winning. And I think from a regulatory
1:12:00
and like news standpoint, like he delivered, but from like a
1:12:04
number go up standpoint, it has not been delivered yet.
1:12:09
I, I I won't be, I, I, I won't be happy until half $1,000,000
1:12:12
Bitcoin. Yeah, my, my dopamine receptors
1:12:15
are fried too. Minimum totally half, $1,000,000
1:12:18
Bitcoin. And then I'll say, OK, President
1:12:21
Trump's the goat, but it has to be under his term.
1:12:23
It has to be this year though. It has.
1:12:24
Oh wow Opti's raising the bar anyways guys I hope you have a
1:12:28
fantastic weekend today is August 1st 2025 we're simply
1:12:32
Bitcoin you guys enjoyed the show you know to do smash the
1:12:35
like button and consider subscribing enjoy your weekend
1:12:38
go outside touch some grass eat some steak enjoy your.
1:12:41
Family get some. Sun, get some.
1:12:42
Sunlight and we will see you back on Monday for a brand new
1:12:46
episode of Simply Bitcoin Live. Today's episode was brought to
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you by bitcoinwell.com, a Bitcoin only platform on a
1:12:54
mission to enable financial independence.