Latest / Simply Bitcoin / FORGET $94,000: The Truth Behind The Bitcoin CRASH!! (Is It Over?) | EP 1377

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FORGET $94,000: The Truth Behind The Bitcoin CRASH!! (Is It Over?) | EP 1377 · Simply Bitcoin

0:00
Michael Saylor was just on the national news this morning
0:03
giving a 5 minute explanation that explains a lot of questions
0:09
that people might be having right now.
0:11
Is the Bitcoin run over? Will Michael Saylor be selling
0:14
Bitcoin or buying more? Is this one you should be buying
0:18
Bitcoin? Of course, this is not financial
0:20
advice, but anyways, I saw this clip this morning and it was
0:24
fascinating. Let's check it out and then of
0:26
course, we'll talk about it. Michael Saylor is here, strategy
0:30
founder and executive Chairman. Good morning to you.
0:34
What do you think, 150 by the end of the year?
0:37
What do you think's happening here?
0:39
You know, I think we all want to go to the moon, but if you want
0:43
to ride the rocket you got to be prepared to pull the G's.
0:47
Over five years, bitcoins had like 6 brutal draw downs.
0:51
If you roll the clock back 13 months, we were sitting around
0:55
68,000. And then after the Trump
0:57
election we had this this incredible rally from 68 to
1:01
106,000 in five weeks. If you go back 14 months, we are
1:06
about 55,000. And so if you'd said we're going
1:09
to go from 55,000 and 94,000 and 14 months, that would have
1:13
exceeded any reasonable investors expectations over five
1:17
years, Bitcoins up about 50% a year on average for the five
1:21
years. Gold and S&P are studying the
1:24
cost capital to 14%. My company strategies up 71%
1:29
equivalent to NVIDIA. There's no other stock in the
1:33
S&P that's done any better. So I think the volatility comes
1:39
with the territory. If you're going to be a Bitcoin
1:42
investor, you need a four year time horizon and you need to be
1:46
prepared to handle the volatility in this market.
1:49
So when you when you look at the price right now and then I will
1:51
talk about the implications for strategy.
1:53
But when when you look at the price right now, what is the
1:56
upside at this moment look like to you?
1:59
And what is the downside in this moment look like to you?
2:02
You know, I feel like we put in a pretty strong base of support
2:06
around here. There's an incredible amount of,
2:09
of leverage coming out of the system, a lot of liquidation, a
2:12
lot of the OG holders were selling at the $100,000 level.
2:16
And and so I'm, I'm fairly comfortable at this level.
2:21
I would think that we'll build from this base and we'll rally
2:23
from here. Obviously it's hard to make a
2:27
forecast for the end of the year right now given given what's
2:31
happened over the past few weeks and especially the shift in the
2:35
macro environment. But you know, as you know, my
2:39
view is bitcoins going to outperform gold, it's going to
2:42
outperform the S&P. It is digital capital.
2:46
And so if if you're a long term investor, this is the place to
2:50
be. In in terms of the way your fund
2:53
is structured and the debt that you've taken out to effectively
2:56
buy a Bitcoin. What what are the trigger
3:00
points? Just so people understand the
3:01
full risks involved for you in terms of some of these
3:04
preferreds and other things in terms of where where Bitcoin
3:08
needs to needs to lie either on the low, on the low end.
3:12
Well, I mean it's pretty important to note that we're not
3:15
even 1.15 times levered. We're we're very fractionally
3:20
levered and our debt that we have is 4 1/2 years out.
3:25
So we don't really have any trigger points anytime soon.
3:28
And if Bitcoin were to fall 80%, we're still over collateralized
3:32
and we're fine. So, so our balance sheets pretty
3:35
stable. The company's strategy just like
3:39
an intelligent bank would be to build amplification for the
3:43
common stock using preferred equity.
3:45
So the equity number comes due, it's, it's a dividend payment
3:50
declared by the board. It's not a coupon.
3:52
We can't be in a default. There is no credit default
3:55
situation from the digital credit that we're selling at
3:58
this point. I was curious if you could
4:00
comment on something we heard from Kathy Wood last week.
4:04
She has a target, I think by 20-30.
4:06
She had it at $1.5 million a coin and and recently suggested
4:11
it might actually be closer to a 1.2, which is still pretty
4:15
remarkable unto itself. And yet, when she explained her
4:19
new rationale, it was actually that stable coins, the the sort
4:23
of emergence of stable coins in the growth of those coins being
4:26
used for transactions, she, she argued, could ultimately crowd
4:29
out some of the use case for Bitcoin.
4:33
What did you think when she said that?
4:36
I think the entire digital assets economy is, is exploding
4:41
and growing in a bunch of different dimensions right now.
4:44
The way to think of it is that half of the economy is built
4:48
around Bitcoin. It's digital capital.
4:50
Bitcoin is digital gold and the and the killer application on
4:54
top of digital capital is digital credit instruments like
4:58
stretch STRC credit instruments that pay yield and and that's a
5:03
very simple business. The other half of the economy is
5:07
digital finance and it's going to be built on the proof of
5:10
stake networks that are emerging, the Ethereum Solanas,
5:15
the B and BS. And the killer application for
5:18
that part of the digital assets economy is tokenized currencies
5:22
a la stable coins, tokenized securities, tokenized real world
5:27
assets, tokenized brands and defy in general.
5:31
Well, that's a very complicated technical development.
5:35
And and I'm sure that stable coins are going to go from
5:39
hundreds of billions to trillions of dollars, but it's
5:43
not really competing with digital capital.
5:46
No. No rich person wants to buy the
5:49
currency instead of an equity or a real estate or a capital
5:53
asset. Michael, given where Bitcoin's
5:56
trading right now, are you buying?
5:58
We are buying, we're buying quite a lot actually.
6:02
And we'll we'll actually report our next buys on Monday morning.
6:06
I think people will be pleasantly surprised.
6:09
In fact, we've been accelerating our purchases.
6:11
Are you ever not buying Michael? No, we're always buying
6:16
bitcoins. Always a good investment.
6:18
But no, that's interesting though in terms of buying today
6:22
at $95,364 versus buying two or three weeks ago, you're saying
6:26
you're buying it at both. What's if you were looking over
6:30
the last year sort of at your average, what do you, where you
6:32
and do you do you weight the buying based on on trading?
6:36
We now own nearly 3.1% of the network and we bought it on a
6:39
blended average about 74,000 a coin.
6:43
The, the point that I would make for any investor is if you have
6:47
money you don't need for four years or longer, and if you
6:50
don't trust anybody, you want no counterparties, you just want to
6:54
own a piece of the global digital economy, you buy
6:58
Bitcoin. It's the commodity.
7:00
If you're an equity investor and you want to bet on digital
7:03
credit and you want to bet on digital capital and you want
7:06
some amplification, you buy an equity like MSTR.
7:10
If you have money for less than four years and you're an
7:13
investor and your time frame is 12 weeks, you should buy the
7:17
digital credit. For example, the credit
7:20
instruments we've created have stripped the volatility off of
7:23
Bitcoin. Bitcoin's Vols like 45 on a
7:26
trailing 30 day average. We have instruments at 282115
7:30
and stretches a ball of eight. So if what you want is like a A
7:35
series yield, you want the credit, you don't want the
7:38
equity or the commodity. Mike, I want to thank you for
7:40
joining us. Alright, everybody quite a big
7:44
intro clip, but I, I felt like I needed to play the entire thing
7:48
for you guys 'cause who else then Michael Saylor to kind of
7:52
explain to kind of, you know, get a vibe check on what's going
7:56
on with the market. I think that's the appropriate
7:58
word. There's also a rumor going
8:01
around that again, sailor Arkham Sailors strategy cuts Bitcoin
8:06
holdings by 47,000 Bitcoin Michael Saylor follows up with
8:12
there is no truth to this rumor. So again, 2025 has been a very
8:19
interesting year for Bitcoin. You know what tends to happen
8:22
the year after the having is Bitcoin has this parabolic rise.
8:27
That obviously hasn't been the case.
8:30
Microstrategy's performance, Metaplanet's performance, a lot
8:33
of the Bitcoin treasury companies performance earlier on
8:36
in the cycle like 2024-2025, we're actually outperforming
8:41
Bitcoin. That's not the case anymore.
8:44
A lot of the treasury companies are underperforming Bitcoin.
8:47
And if you're a treasury company and you're underperforming
8:50
Bitcoin, then it begs the question, why should people buy
8:53
the treasury company if they could just buy Bitcoin instead
8:57
and end up with more Bitcoin, right?
8:59
So, you know, it's very kind of very interesting that all of
9:02
this is happening simultaneously.
9:05
Of course, you have the Trump administration, the first pro
9:07
Bitcoin administration coming into office and the ended
9:11
Operation Choke .2 Point O. I'm at the point where I'm
9:15
saying bring Operation Choke .2 Point O back because at least
9:19
when Operation Choke .2 Point O was happening, at least we had
9:22
volatility in general. There's been absolutely no
9:26
volatility this year. Maybe a little bit when we went
9:28
from like 100K down to like 76, then we bounced back up.
9:32
But as a whole, if you look at Bitcoin's year to date
9:36
performance, Bitcoin's up 2% year to date, not been that
9:42
great. And it actually could end the
9:44
year in the red, right? Which again, uncharted
9:47
territory. October could have been the top.
9:50
It could have been $126,000. But the reason I want to pay you
9:55
that clip from Michael Saylor is there's a lot of things that he
9:58
unpacked there. First of all, they have no
10:00
intention of selling Bitcoin. They actually want to buy more.
10:03
He still feels very bullish on the asset.
10:05
He says that there is a base. I, I would agree with him.
10:08
I think that there is a base. There's a lot of institutional
10:10
players coming in and, you know, they obviously want to, they
10:16
obviously don't want their bags to drop, you know that much.
10:20
But what's really interesting too is, you know, the
10:23
involvement of the Trump family in the whole industry, in the
10:27
whole sector. And, you know, in the beginning
10:29
of the year, I, I, I thought that was a positive thing.
10:31
Like we were doing live streams. We had like over 1000 people
10:34
watching live on YouTube. You know, we're celebrating, you
10:37
know, this, this new, you know, this, this new administration
10:41
and, and I, I think it's been quite lackluster.
10:44
And it, I'm not just talking, I'm not going to get into the
10:46
details, but I'm not just talking about, you know, the
10:50
Bitcoin industry in general. I'm talking about, you know, the
10:53
first year of the Trump presidency.
10:57
It's hasn't been that great, to be honest with you, across a lot
11:01
of fronts right now. From a policy and regulatory
11:04
perspective, I think it's been fantastic from the Genius Act
11:08
and the Clarity Act that has a high probability of passing.
11:11
But you know, all the talks of the tariffs have really spooked
11:16
the market, right? Every single time the market
11:19
started rising, you know, you have, you have President Trump
11:22
going on Truth Social posting about the tariffs.
11:25
And then you had the, you have these crazy corrections that we
11:28
had, we experienced, I think in the middle of the year.
11:31
And then the latest one was in October, you had the largest
11:34
liquidation event in Bitcoin slash crypto history, right?
11:38
Just to kind of give you a perspective.
11:40
And it all came from a Truth Social post where he was saying,
11:44
hey, I'm going to put 100 percent, 100%, 100% tariffs on
11:49
China. Now in Europe, it was it same
11:52
thing happened kind of with the European Union.
11:55
But what's really interesting about all of this is that, and
11:57
I've had conversations with people that are much smarter
11:59
than I am. Yeah.
12:00
And they're talking about it's like, look, like this is market
12:02
manipulation. Like this is Wall Street.
12:04
This is what Wall Street does best.
12:05
Like, they they want to scare you and bore you to death out of
12:09
your bags, Right. And I think that is exactly what
12:13
happened in 2025. I think with the introduction of
12:16
the ETFs in January of 2024, I think that this is a whole
12:21
different ball game. I think that's what people have
12:23
to understand. But I think the silver lining in
12:26
all of this is that now we're headed into the unknown, right?
12:31
We could be following the four year cycle, right?
12:34
You know, which is we peaked, maybe December we, we hit
12:37
another peak, who knows, right? You know, it wasn't that long
12:41
ago that Bitcoin was at all time highs, right?
12:43
It's like a month ago, right? And it's important to keep a
12:45
perspective sometimes, but at the same time, simultaneously,
12:51
you know, what happens if Bitcoin just keeps going
12:55
sideways into 2026 and you don't really have that traditional
13:00
bear market correction. And this is kind of like the
13:04
realization that I've been coming to, you know, really
13:07
towards the end of the year when October didn't actually be
13:10
October is actually the red October.
13:13
I said like this is uncharted territory.
13:16
Like we, we, you know, now we're midway through November again,
13:21
you know, the price action really isn't that exciting.
13:23
If anything, it's gone down, right?
13:26
So, yeah, I think we are in uncharted territory.
13:29
I think it definitely has to do with the involvement of Wall
13:32
Street. But I will say this, I think
13:35
that heading into next year, because it is a midterm year, I
13:39
think that the Republicans are under a tremendous amount of
13:42
pressure for them to perform an economic miracle or else they're
13:48
going to lose the House. Like I'm very, very confident in
13:52
saying that, right? So of course, that creates a a
13:55
very big incentive for the Trump administration to do something.
13:59
I think also Jerome Powell talking about potentially not
14:02
lowering rates in December didn't really help the
14:05
situation. I've been making the case that
14:08
the Fed has been acting politically all year.
14:11
It's not really helping the Trump presidency.
14:14
So I, I, but again, you know, you have a new fed chair, you
14:17
know, in the middle of next year that's going to be appointed.
14:21
And again, the, the, the, the big announcement was the end of,
14:25
of QT that is going to be happening December 1st.
14:29
So like literally 15 days from now, right?
14:32
So, you know, a couple of couple of variables coming into place,
14:36
right? But I think it's safe to say at
14:38
this point that even Michael Saylor, you see his face in that
14:43
interview, Sophie, like, you know, he's he's covering up and
14:46
he's staying positive, of course.
14:48
But, you know, those big smiles that were present I think in the
14:52
beginning of the year were absent this time.
14:56
And I think rightly so. So, yeah.
14:58
I mean, we've been living through this this entire year,
15:00
you know, kind of going through it.
15:02
And this year has been this year of expectations where the
15:05
expectations weren't met and Bitcoin's volatility is just
15:10
basically disappeared. Again, like like I said, the
15:12
year to date performance of Bitcoin right now is we're up 2%
15:17
year to date, which is not that great, is it?
15:20
Well, I wouldn't say that the volatility is gone, especially
15:24
today we're feeling a little bit.
15:27
But you know what, at least we're feeling something.
15:30
But yeah, when you zoom out and look at it from a year to date
15:33
perspective, it definitely kind of sucks that we've just gone
15:36
sideways. It definitely kind of feels like
15:40
it is the end of the cycles. And you can tell that Michael
15:46
Saylor might be feeling a little bit defeated, but hey, that's
15:50
human. Like who isn't feeling that way?
15:53
But when you look at what the man is doing, he's doubling,
15:59
tripling, quadrupling down, and he's buying more Bitcoin.
16:04
Like, who does that in traditional finance?
16:08
Only someone who is a disruptor and someone who is willing to
16:12
take the risk that Michael Saylor is taking.
16:15
So I'm actually pretty bullish. I just actually finished writing
16:21
an episode of Satoshi that is going to be coming out this
16:25
afternoon talking about the the the crash.
16:30
Are we calling it the crash? I mean, this is a crash for ants
16:33
when it comes to bitcoiners. I.
16:34
Don't think it's a crash. I think, you know, I think this
16:38
is just the normal course of business.
16:41
You know, I think volatility is good, but I think the year to
16:45
date performance I think is is, you know, I think that is, you
16:51
know, I think that is what caught a lot of people off guard
16:54
in my opinion. Right.
16:55
And when you're looking at it from the short term, that's
16:58
definitely an area of concern for most investors.
17:01
But again, if you zoom out, nothing, first of all, nothing
17:06
about Bitcoin fundamentally has changed, right?
17:09
This is all macro speculation, you know, big finance,
17:14
traditional finance going in and inputting, you know, their their
17:21
stuff right there. But.
17:24
I I think the keyword there is strategy.
17:26
I actually wrote it was V for V for Vendetta on X1 of the
17:33
founders of of Bitcoin way. He had a really, he had a really
17:40
good tweet that I really wanted to get to.
17:44
But basically the long story I, I don't know if I can find it on
17:47
time, but basically the Long story short is this Wall Street
17:52
is playing Wall Street games. And it, it was, he wasn't the
17:56
only one who is telling me that it was actually also, it was
18:01
actually also British Huddle. And what's really interesting
18:04
about British Hoddle, other than I'm a big fan of his content.
18:07
I know a lot of people don't like him, but I'm a, I'm a big
18:09
fan of British Hoddle's content. But what's really interesting
18:11
about British Hoddle is he comes from the traditional financial
18:17
world. And I remember I did a podcast
18:20
with him recently and he was just basically saying, like
18:22
Nico, like you don't understand, like they're trying to bore you
18:26
to death. They're trying to shake you out
18:27
of your bags. I'm extremely bullish for 2026
18:31
and it's going to catch everyone by surprise.
18:34
And I think that's what a lot of bitcoiners are not taking into
18:37
account because they're buying into, you know, the four year
18:42
cycle theory. That is the general consensus
18:44
right now. And it could be true, right?
18:48
Like the four year cycle is a thing until it's broken.
18:51
So it is a thing right now, but this is what makes things
18:55
actually exciting. Like despite the price action,
18:58
I'm actually excited for the first time in a long time in
19:01
Bitcoin. And the reason for that, ladies
19:03
and gentlemen, is like, for the first time, I don't actually
19:07
have any idea or expectation of what is going to happen.
19:13
And most people are on that boat right now, right?
19:16
But if you look at kind of like the macro indications, right,
19:20
the pressure that the Trump administration is going to have
19:23
next year to perform in order to hold the house, If you take a
19:27
look at the language that is coming from Treasury Secretary
19:30
Scott Besson, basically saying, like, look, 2026 is going to be
19:34
a year that Main Street wins, right?
19:37
Not just Wall Street, but Main Street wins.
19:40
And that's the only feasible way that, again, the Republicans
19:44
hold the House, right? And then, of course, Trump's own
19:48
interest in a lot of the sector now, he could be benefiting
19:52
tremendously from having insider knowledge.
19:55
But at the end of the day, you know, his sons himself, like he
20:00
has ownership stake in a lot of this.
20:02
They're eventually going to want number to go up, right?
20:05
So I think Wall Street is playing games, but I think it's
20:09
an inevitability that people come to this realization that
20:14
Bitcoin is absolutely scarce. And I think that Wall Street
20:18
institutions, just retail has come to this conclusion, but I
20:22
don't think the institutions have understood, fully
20:26
understood and embraced the idea that Bitcoin is absolutely
20:29
scarce, unlike gold. And this whole talk of like,
20:32
Nico, the parabolas are impossible because the market
20:35
cap is too big. I'm calling BS on that.
20:37
SOF, like gold, had a parabola this year, right?
20:41
Yeah. It's like a. $20 trillion market
20:44
cap and it had a parabola, right?
20:46
Like people were lining up outside of wherever it is you
20:49
buy gold to buy gold, right? You know, I know, I know it took
20:54
10 years for that to actually for, for gold to come back to
20:57
life. But, you know, it had a parabola
21:00
and a really interesting statistic also as well.
21:02
Ladies and gentlemen, we've barely made all time highs in
21:07
gold terms since 2021. And I think that is the signal.
21:12
Like, yeah, we've made all time high in dollar terms, but you
21:15
have to take into account the purchasing power loss of the
21:19
dollar since 2021. That's not being talked about in
21:22
the conversation. So like, yeah, I'll, I'll, I'll
21:25
be honest with you. As a bitcoiner, I've been in
21:27
this industry for for quite a bit of time now.
21:31
You know, this year has been lackluster.
21:33
It's been quite disappointing. I know that there's a lot of
21:36
them are my friends, so I'm not going to name any names, but a
21:38
lot of people are like, no, it's been fantastic.
21:40
It's been great. I will say that 2023 and 2024
21:44
were really good for Bitcoin. And This is why I keep making
21:49
the joke like, you know, bring operation choke .2 point O back,
21:52
because at least the price was pumping back then, right.
21:57
You know, but during the Trump presidency, the reality is that,
22:02
you know, Bitcoin hasn't, you know, done all that well, that
22:06
that's the that's the reality, right.
22:08
So anyhow, I want to get your take.
22:11
So if like, you know, just about the Trump president presidency
22:15
in general and yeah. I mean, yeah, the Trump
22:21
presidency has been kind of a disaster.
22:24
I'm not going to lie. I think a lot of people are
22:26
disappointed. Obviously there is a faction
22:29
within MAGA that, you know, has completely drifted away because
22:34
everything that And this week has been one of the worst weeks
22:38
for Trump, politically speaking. Let me say like between his H1B
22:43
visas, Americans aren't talented enough Comments, you know, to
22:48
the 50 year mortgages, to the $2000 stimulus checks.
22:52
And ironically enough, it all has to do with the economy,
22:56
which is the reason that so many Americans were voting for Trump
23:00
in the 1st place. So while he's saying that, you
23:04
know, or his son is saying rather that Bitcoin can still go
23:08
to a million, that, you know, there's still a chance,
23:10
whatever. I think that this is kind of
23:13
like a Hail Mary pass for them almost.
23:16
In trying to in what? In what regard?
23:21
In in the sense that they know that traditional finance in the
23:27
economy is probably not going to save the Trump administration.
23:31
Maybe they're looking at Bitcoin as the one asset that actually
23:36
saves them and takes them into the midterms and over a win.
23:44
Yeah, I mean, could be, could be, I don't know.
23:47
It's it's it's interesting. It's interesting.
23:50
It's it, this is uncharted territory, which again makes me
23:53
makes me excited, makes me excited again.
23:56
You have a pro Bitcoin administration.
23:59
But the reality is that I think 2025 has been lackluster in
24:02
general. But I'll take the wins.
24:05
I'll take the regulatory wins. I mean, at the end of the day,
24:08
Bitcoin hasn't dumped that hard, right?
24:13
So far. So far, right, so far.
24:16
I think that's the keyword is. So far it hasn't.
24:19
Right. But you know the way, I don't
24:23
know, I think, I think that that I'm on your page, I'm just as
24:28
bullish as you are. And because we have no idea
24:31
what's going on, I think that uncertainty is brewing a storm
24:37
for possibly for possibly a really, really, really strong
24:44
bull market and it's just been delayed, right?
24:47
We all had expectations and I think that's what's killing us,
24:50
right? Like we all thought that Bitcoin
24:52
was going to have its year in 2025 and we were wrong.
24:57
And maybe that just means that it's going to happen a little
25:00
bit later because the stage is set.
25:02
I mean, at some point the Fed is going to have to print money.
25:07
And I think that that was actually a big reason for why we
25:11
dipped to below 95 K levels. Apparently now the confidence in
25:17
the fact that the the Fed is going to print more money in
25:21
December has gone down. And this the first thing that
25:25
people that a lot of like traditional finance people are
25:29
going to sell are assets that they view as risky, such as
25:33
Bitcoin. You know, even though Bitcoin is
25:36
not, in my opinion, as risky as the majority of the S&P 500,
25:42
but. I, I would say this and I'm, I'm
25:45
seeing some of the, I'm seeing some of the comments here,
25:48
right? Some people are saying that we
25:50
don't have a capitalist market. I completely agree.
25:53
That's true. I, I completely agree.
25:55
I think as long as there's the Federal Reserve, you, you don't
25:58
have a capitalist market looking at some other things, I don't
26:04
think you can control BTC price forever.
26:08
Maybe for yes, 100%. I think it's a really good
26:10
comment, right? I think that like a beach ball
26:13
that you put underwater, I think that you can hold it there for
26:17
so long, but as soon as you let go, that thing's going to spring
26:19
up. And then another thing that I'll
26:21
add before we transition to the next segment, ladies and
26:24
gentlemen, is this Bitcoin is, is Bitcoin either goes up where
26:32
it goes to 0 it it, it, there is no in between for Bitcoin,
26:35
right? The halvings kind of ensure
26:38
that, right? Every four years, the amount of
26:42
of rewards that the miners earn gets cut in half.
26:46
So you kind of need that price to go up for a lot of these
26:51
large mining operations to remain economically viable.
26:55
Now, of course, you know, there's the difficulty
26:58
adjustments, you know, a lot of the inefficient miners are just
27:02
going to go offline. So, but I mean, you know, Max
27:07
Keiser is the one that says this, right?
27:09
He says that hash rate, you know, price is a lagging into
27:15
price follows the hash rate. It's Max Keiser's words, not
27:19
mine. And if you take a look at the
27:21
hash rate, it's reaching all time highs like the it's
27:24
literally a hockey stick up. And what that tells me is that
27:29
people feel very confident deploying capital into very
27:33
expensive mining build outs and mining infrastructure and they
27:41
feel very confident in that. And if you didn't feel confident
27:44
in the future Bitcoin price appreciation, you would not take
27:50
those. You would you wouldn't do that,
27:52
you wouldn't do that. It it just wouldn't be
27:54
economically it it just wouldn't be sound.
27:56
So I think the price, the way that it's behaving, all the
27:59
rumors that are going around, we've heard multiple times that
28:03
sovereign wealth funds, I, I saw recently too, the the Czech
28:08
central bank, I think we reported that yesterday has
28:11
announced that they're buying some Bitcoin.
28:14
You have large banks, you have pension funds in the United
28:16
States. Of course, a lot of these aren't
28:19
buying Bitcoin through, you know, spot Bitcoin, but they are
28:24
buying Bitcoin nonetheless. So I think overall, you know,
28:28
I'm, I'm feeling very bullish, but again, I think the lesson
28:32
learned of 2025 I, I things could change in December, but
28:36
all things being said right now we have a month and a half left
28:39
of the year. I think the lesson learned of of
28:42
2025 is don't have expectations in this industry.
28:46
Don't have expectations in Bitcoin.
28:48
Stay humble stock sats. I think the long term view is
28:51
extremely bullish, but I think I think that's why I what caught a
28:57
lot of people off guard. You know, this year the the
29:01
silver lining is we're heading into unknown territory and I
29:05
think that's fantastic. I'm really excited about that.
29:08
Like I'm really excited about the fact that no TA person, no
29:13
nobody's price prediction this year was right.
29:16
Everyone got it completely effing wrong.
29:19
And that's how markets work. Last cycle, the price prediction
29:23
was actually too high to the upside.
29:25
Everyone and their mother thought we were going to hit
29:27
100K. We only hit 69 K this cycle.
29:31
Something very similar happened. Everyone thought we were going
29:33
to have a parabolic run. We didn't.
29:36
We went sideways for the entire year.
29:38
What does everyone thinks going to happen in 2026?
29:41
We're going to have this massive correction.
29:42
Like that's the general consensus.
29:44
Could that still be the case? Possibly.
29:47
But again, you know, if if Bitcoin has shown something is
29:51
that it just goes against what most people are thinking
29:54
anyways, guys, it's going to be incredible show.
29:56
We still have a ton of of information lined up for you
30:00
guys of content lined up for you guys.
30:02
They discontinued the penny. So we're going to be talking
30:05
about the loss of purchasing power of the dollar.
30:09
What this means from a symbolic perspective and, and then during
30:15
the news segment, we're going to be exploring again more about
30:19
this topic, about 20, about 2026 potentially about what everyone
30:23
is thinking again, this rumor that Sailor sold the stock, that
30:27
rumor is not true. You heard it on Squawk Box this
30:30
morning. He in fact, is buying more, but
30:34
there there does seem to be some predominant Bitcoin X accounts
30:38
or X accounts in general that are buying into this 2026 bull
30:42
market thesis. So we're going to be looking
30:45
into all of that data and we're going to be having a
30:47
conversation about it. And then during the culture
30:50
segment, I think Sophie and I are just going to go down memory
30:52
lane of 2025, you know, and just, you know, navigating this,
30:57
this this Bitcoin world, the Bitcoin roller coaster, which I
31:00
think will be really good guys, you guys ever want to stay
31:03
tuned. You know, it's going to be an
31:04
incredible show. If you guys are enjoying it so
31:07
far, make sure to smash that like button.
31:09
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today. All right, everybody, let's get
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the show started. We have tons to talk about
32:05
today. We're going to be right back
32:07
just a bit. I want to give a shout out to
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All right everybody, we are back at the time of recording the
33:30
Bitcoin price is $96,240 Block height Ninety 923,626 market cap
33:38
1.92 trillion Bitcoin versus gold market cap 6.65% and
33:44
decline from all time high. If you're buying Bitcoin right
33:46
now, you're getting it at a 23%, almost 24% discount from the all
33:52
time high. So smash that like button.
33:54
Anyways, I do want to show this video.
33:57
I think it's very symbolic, kind of representing Sophie if you do
34:02
wide shot representing no wide shot of us and Sophie's, by the
34:10
way, shout out to my beautiful wife that I love extremely.
34:13
I, I love so much she is, she's, she's controlling the mothership
34:17
right now and she's doing such a good job.
34:20
I'm struggling so this is really hard.
34:23
Shout out to Opti who does this everyday.
34:26
Shout out to Sophie because she's crushing it right now.
34:28
Like I don't think you guys understand how many buttons
34:30
she's pressing so. So many buttons.
34:34
No pun intended, but anyhow. So I do want to show this.
34:39
This is a, a, a video of Jameson Lop.
34:42
No, it's not a video of Jameson Lopp.
34:43
It's a video that Jameson Lopp posted.
34:45
But it's a, it's a recording of the final penny being produced
34:50
by the US Mint. And Jameson Lopp's comment is so
34:54
on point. They're celebrating the
34:57
devaluation of the dollar. So let's check out the video.
35:01
Everybody, this is the last one. Any final?
35:06
Words from the penny. God Bless America, God Bless
35:11
America and we're going to save the tax.
35:13
Forty $56 million area, which is good.
35:15
We're going to do a countdown on this and this is the last 1321.
35:28
So like this is like clown world essentially.
35:33
Like this is crazy. And then like if you compare and
35:37
contrast, like look guys, Bitcoin miners, if they don't
35:42
mine Bitcoin cheaper than the actual spot Bitcoin price, they
35:47
go out of business, right? The government, right?
35:51
This is how much it cost them. This is why they stopped with
35:55
the pennies. By the way, it cost the new the
35:58
US Mint nearly $0.04 to produce a single penny.
36:03
Think about that for a second. Yikes.
36:06
Internalize that for a second. So for one penny, it cost them 4
36:12
pennies to make one. In what world does that make
36:16
sense? That doesn't make any sense
36:19
whatsoever, right? And then you would say, but
36:22
Nico, it's just a penny. It's so cheap.
36:24
It's so this, and they're going to save so much money doing
36:27
this. But again, it's just a, it's a
36:29
show. It's a facade.
36:31
It's BS. Like this is the representation
36:34
of what is wrong with the Fiat system.
36:36
They're celebrating this, right? This is an embarrassment.
36:41
And guys, you really is. You'd say, Oh my God, this is a
36:44
this is a penny. Like, who cared?
36:45
Look, in 1900, a penny could buy a few eggs.
36:51
A newspaper, a quart of beer, a cup of coffee.
36:55
Bitcoiners love talking about a cup of coffee.
36:57
Buying Bitcoin with a cup of coffee.
36:59
A small candy bar. It was also enough to send a
37:03
postcard or travel a mile by rail.
37:07
Yeah, a penny used to mean something.
37:09
And not even that long ago. I remember when a penny used to
37:12
mean something back in like the early 2000s, like a couple of
37:16
cents could actually get you something, anything.
37:20
Like, I mean, back when, you know, before cell phones, it
37:23
could get you a phone call. It could get you a a bag of
37:27
chips. I remember when chips were like
37:29
$0.50 or $0.25 in in the vending machines.
37:33
And now we're just like eliminating it because it's that
37:38
obsolete. That's how much our currency has
37:41
been devalued. It's very sad.
37:44
And a lot of people will look at it, especially, you know, Gen.
37:48
Z millennials like, oh, who cares about the penny?
37:50
Like they might they, they don't even look at the cent value of
37:55
something anymore. They just look at, you know, the
37:58
dollar value and they round it to the nearest dollar.
38:01
So it's, it's unbelievable. We haven't just changed the
38:07
economic value of the penny, but we've changed the way that
38:10
everybody sees the value of money altogether.
38:14
Yeah, 100% agree with that. 100% agree with that.
38:17
And last thing, I'll end it with this before we move on to the
38:20
next segment. This is Andrew Torba.
38:23
Andrew Torba is the founder of Gab, which is like kind of like
38:27
this. It's like this like alternative
38:30
social media platform. It's more kind of oh, I.
38:34
Remember gab but it. Kind of leans like like heavy
38:37
hardcore to the right, but I'm not a really big fan of the Gab
38:41
platform. I I don't think it has like it
38:45
just doesn't have enough users and then also like what type of
38:47
content is on there? Not a big fan, but I am a big
38:50
fan of Gab AI. And the reason I'm a big fan of
38:53
Gab AI is like unlike the main, not to name any specific ones,
38:56
but unlike the mainstream AI, you know, the LLMS Gab AI is
39:04
unfiltered, right? So you can ask it some pretty
39:07
good questions and you know it, it gives you some, some, some
39:12
some pretty good answers that in the normal platforms you can
39:15
get. It's actually surprising, like
39:17
with the AIS, like you can actually get them to admit the
39:21
truth, but their their default setting is to give you the to
39:29
give you an answer based on what they perceive is the mainstream.
39:36
It's called a lie. What they perceive is the
39:39
mainstream institutional consensus, so they'll use legacy
39:42
media as a source. But The thing is, I think what
39:45
we've all learned about legacy media these last couple years is
39:49
that, dude, legacy media leans a certain direction #1 and legacy
39:54
media hasn't been all that accurate and reporting certain
39:59
things. On purpose.
40:01
Sometimes if the AI is using legacy media as a source, but
40:07
the source is flawed or the source is a form of propaganda,
40:11
then you're not going to get the best information.
40:14
But it's interesting because if you use logic, eventually you
40:18
can get the truth out of the mainstream LLMS. But and the
40:23
thing that I love about Gab AI is that it doesn't do that.
40:26
It just gives you, you know, the thing.
40:29
But again, you have to verify the information every single
40:31
time, right? Like even with ChatGPT like
40:35
sometimes it just spits out. Garbage nonsense.
40:39
Oh my God. It just spits out lies, right,
40:42
straight up lies. So you do have to do a little
40:44
bit of, of critical thinking and verifying on your end.
40:47
But I, I, I guys go check out Gab AI.
40:50
It's pretty cool. Uncensored AI is pretty cool
40:52
too. I, I love using all of them, you
40:55
know, for like different things and, and, and stuff.
40:58
But he had he had a, a very good comment.
41:02
And it goes along the lines of they stopped minting one of the
41:06
physical forms of currency and also rolled out the first wave
41:11
of digital ID this week. Probably nothing.
41:14
And then this goes back to what I was saying the other day,
41:18
actually on yesterday's show when we had Bitcoin been on the
41:20
show when we were live streaming.
41:22
Dude, I was in Dallas yesterday. I'm somehow in Miami today.
41:26
Wow. It's been a long 24 hours, but.
41:28
Lanes. Lots of, lots of metal tubes,
41:32
radiated metal tubes, but we are live streaming from the floor of
41:37
the mining disrupt summit in Irving, TX.
41:40
And we had Bitcoin bent on the show.
41:42
And, and one of the things that I, I, I, I noticed was OK, so
41:47
they're discontinuing the penny. They're rolling out digital IDs
41:52
in Europe, in the United States, Apple is introducing a digital
41:57
ID that you'll have in your Apple wallet.
42:01
Who's asking for this, right? Literally nobody.
42:05
And then excited. Nobody's asking.
42:07
For this you have Christy Lagarde like getting all excited
42:10
about the roll out of the European CBDC like.
42:16
Look, oh, and don't forget the UK.
42:19
The UK is saying that you now need a digital ID in order to
42:22
work. And they're using the excuse of,
42:27
you know, mitigating illegal immigration, which they suddenly
42:31
care about. And, and, but it's, it's an
42:34
excuse. I'm saying it's an excuse,
42:36
whether for better or for worse if they're doing that or not.
42:38
I'm not going to be 1 to say, but they're saying that you need
42:43
a digital ID to work. Yeah, and, and I think the, the,
42:48
the, you know the point that you brought up, right, about
42:51
migration, right? You know, it's interesting that
42:53
they're using that as an excuse. I'll leave it at that.
42:55
I'll let you guys connect the dots on your own.
42:57
But I before we move on to the next segment, just look at
43:00
Sophie's face. It it it speaks for itself in
43:05
terms of yeah anyways, if you guys want to support the show
43:09
guys, of course, you know, buy Bitcoin first, that's number
43:12
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Anyways, guys, let's move on to the next segment.
44:21
We're going to be talking about 2026.
44:23
What could possibly happen in 2026?
44:26
I think it's a really interesting subject.
44:27
We're going to be right back in just a bit.
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this is the literally I'm not going to say it because it's not
47:51
it's not going to sound as pleasurable as the way that
47:54
Sophie said it. I can't do, I don't really have
47:56
a good ASMR voice, but anyhow. That you you're more of the the
48:01
enthusiastic speaking type. The yelling people love the
48:05
yelling I'll. Take it, I'll take it.
48:07
Yeah. They don't call me Nico Jones
48:08
for no reason, right? But anyways, I do want to get to
48:12
today's news bit. So here's tech dev.
48:16
This tweet went viral and essentially he says the record
48:21
long pre parabolic phase may finally be nearing its end.
48:28
And it's really interesting what he did.
48:30
So he took the Bitcoin price and then he took the business cycle
48:37
signal. And this is kind of one of the
48:39
theories behind why some people believe that Bitcoin will run
48:45
into 2026, because they're saying that Bitcoin actually
48:48
never had a four year cycle. Bitcoin actually was connected
48:53
to the business cycle. It was connected to the business
48:55
cycle the entire time. So, oh, Jeremy, I just got your
49:00
order, bro. I got you, dude.
49:02
But yeah, remind me, I have to sign a hat.
49:07
So anyways, so and let's look at some of the the the comments.
49:12
So plan C said record amount of people shaken out during the pre
49:17
parabolic phase of the cycle. This is Plan C Plan C has been,
49:23
you know, he's been one of the advocates for the Bitcoin
49:27
quantile model that I would say has been one of the most
49:31
accurate models so far this cycle.
49:36
I had to look up what a quant was the other day.
49:38
I actually had no idea. So, and I want to look at one of
49:42
the things that I'm like, I'm like doomed scrolling right now.
49:45
But anyways. But yeah, he's been making the
49:49
case that again, Bitcoin's following the power law.
49:52
You know, everything's going according to plan.
49:55
And you know, people are kind of sleeping on it a little bit,
49:58
right? So anyhow.
50:01
You know that now I hate the power law because ever since you
50:05
told me that there's a bottom, I'm like, what bottom?
50:09
No, it has. It has like, but again, like all
50:11
models are, are, are, are, are, are, you know, are right until
50:15
they're wrong, right like that's the.
50:17
Dangerous. All the models are broken.
50:18
All the all your models are broken.
50:20
So anyways, if anyone like, here's the thing, guys like
50:23
this, this, I want you guys to internalize what I'm about to
50:25
say. No one on planet Earth has any
50:30
idea where the price of Bitcoin is gonna be a year from now,
50:35
five years from now, 10 years from now, tomorrow.
50:38
No one has any idea. They don't know.
50:41
No one knows. What you can know are the
50:45
fundamentals of Bitcoin, right? It's Infinity divided by 21
50:48
million. You could look at the macro
50:50
environment, you could look at the political landscape and and
50:54
you know for a fact that governments are going to
50:56
continue to do debase their currency, right?
50:59
So what you're saying is they don't know know, but they know.
51:02
I think that you can. You can make a very strong
51:05
argument as to why Bitcoin is going to go up, but no one knows
51:11
where Bitcoin is going to be exactly from a price perspective
51:15
tomorrow. I think that is literally
51:17
impossible. You, you like you can't guess
51:20
markets. I would I would argue it's
51:21
always been impossible. And we've always had an idea and
51:26
the, you know, basis that it will continue to go up into the
51:31
right in the long term. But man, this cycle's just been
51:36
different. I mean, last cycle we also
51:39
thought we were gonna go to the moon, but.
51:41
Like at least at least last cycle we got like a like a quick
51:44
6X right? And now we're like thinking
51:47
about like I'll bring that back. Anyways, we did get a super
51:49
chat. Appreciate you lost liberty
51:52
7777. Appreciate the $5 bro or or gal
51:57
or person. Human.
51:59
Human. Exactly.
52:01
Human. Hopefully, right, but they said
52:06
did UC Telecoin became the first regulated digital asset bank in
52:10
the USA. Nebraska governor just fully
52:12
approved and signed their charter a day ago.
52:15
So here's the thing though, because Caitlin Long, which I
52:18
consider a friend of the show she's been on many times, the
52:23
thing about the banking charters is that you actually don't need
52:27
approval just from the state. You actually need the approval
52:30
from the Fed itself and the Fed has actually been dragging their
52:34
feet and approving pro Bitcoin banks like the bank like
52:40
Custodia bank from Caitlin Long and the the Kraken bank that are
52:44
actually incorporated in Wyoming.
52:46
For those banks to actually be competitive with the other
52:49
banks, they need a federal banking charter.
52:52
The only person that's able to the only institution that's able
52:56
to issue that is the Federal Reserve itself.
52:58
Which is it it? It begs the question.
53:01
The institution that is quote UN quote in charge of regulating
53:05
the banking industry also has a lot to lose if Bitcoin is
53:09
successful. So are they?
53:10
Should they actually be the ones that have the power to regulate
53:15
the industry? And I think this is part of the
53:16
reason, part of the motivation as to why the Trump
53:19
administration actually took a lot of power away from the Fed
53:23
in relation to regulating the, the, the crypto and Bitcoin
53:27
industry, right? How did they do that?
53:30
Sorry, I don't know anything about.
53:31
That in an executive order. But anyway, so here's Joe Joe
53:34
Carlisari and he says admit it to yourself.
53:37
The only reason you're scared is because someone convinced me you
53:41
that there's a mythical for your cycle.
53:43
It's complete garbage. Free your mind.
53:46
If we were 95 K and it was May or June like it was, you'd be
53:50
smiling. When we make a new all time high
53:53
sooner than you than most expect, one of the biggest myths
53:57
in Bitcoin will disappear. So.
54:00
Yeah, guys, time is a construct just.
54:04
I don't know about that. Time is circular, it's totally
54:08
abstract, and the only time that matters is the what is it, the
54:11
hash time or some? He hash rate so so here is
54:19
Checkmatey again, very well known analyst, very well
54:22
respected within the Bitcoin community.
54:24
And he says stock sats folks selling below below 100K are
54:29
crazy, right? And here is the president's son,
54:33
Eric Trump, on Legacy Financial Media.
54:36
Let's check it out. You know, if, if you can't
54:38
handle volatility, stay out of cryptocurrency and don't bother,
54:41
but you know, go into treasuries where you're going to have 0
54:43
volatility and you're going to click away at, you know, 3%
54:46
returns, you know, go have a great time doing that and I'll,
54:49
I'll, I'll see you in 10 years, right, You know.
54:52
So yeah, I mean, I don't know guys.
54:54
Let us know what you think in the comments.
54:57
Let us know if you believe, you know, the cycles are a thing.
55:01
I did release a poll on YouTube. About 330.
55:07
Wow, a lot of people are voting. 344 people voted.
55:11
They voted 56% of those 344 votes voted yes.
55:16
They believe that the Bitcoin cycle is over.
55:19
About 44% of you guys voted. Know that the Bitcoin cycle
55:23
isn't over. So it's essentially 5050, right?
55:27
Which is quite interesting. Anyways, if you guys are
55:29
enjoying the show so far, we have thousands of live viewers
55:32
across YouTube, X and Rumble. Make sure to smash that like
55:37
button. Really, really smash the like
55:39
button on on X, on YouTube, on Rumble.
55:42
Rumble's blowing up. We're getting so many
55:44
subscribers on Rumble. So shout out to the Rumble
55:46
audience. We appreciate y'all and smash
55:50
that like button and. And share the show with your
55:52
friends. Share the show with your.
55:53
Friends, when you share the show with your friends, you actually
55:56
help us reach new viewers. So send this to your parents,
56:00
send this to your siblings, send this to your friends who doubt
56:03
what you're believing in. If your friends, your friends
56:07
and family are, you know, feeling a little bit insecure
56:11
about Bitcoin, send them a simply Bitcoin.
56:14
We, we like to entertain you. Why you huddle like this is what
56:17
we do. This is what we specialize in,
56:20
right? So any of these comments are
56:22
hilarious. Is that Opti's 6th grade picture
56:25
on the desk? Actually, it's not.
56:27
Sophie, could you actually talk about who this person is?
56:29
Yes. OK, so this is Beto Carlos
56:34
Akutis and this was a 16 year old boy who was just canonized
56:41
as a St. very recently and he is the patron St. of social media.
56:47
So we have him on our desk because Niko and I are Catholic
56:51
and this is I think the youngest St. that was ever beatified.
56:57
So we wanted to have him here blessing our our studio.
57:04
Absolutely. 100%. Yeah.
57:07
So, you know, that's who that person is.
57:09
And it was a big deal. And again, I think this is one
57:12
of the first Saints that, you know, became a St. during the
57:17
social media age, right. And you just take a look at his
57:21
story. It's it's, it's it's very
57:23
heartfelt. And he, he, you know, he used
57:28
he. Used social media, he.
57:29
Did make miracles. Yes.
57:31
No, he used social media to basically spread the word of God
57:35
and talk about Catholicism. And after he passed away, people
57:41
who, you know, were sick or, you know, just not doing well
57:45
psychologically, having mental health issues, prayed to him and
57:49
they got better. And there's a lot of testimony
57:53
behind the miracles that he's performed posthumously.
57:56
And it's, yeah, that's why he was beatified.
57:59
Beautiful. Sorry, anyways, guys, it's gonna
58:04
be an incredible show. We're gonna hit the culture we
58:06
have that that would have been a perfect culture segment bit but
58:11
you know, next time now, now we know.
58:13
But anyways guys. Well, now you know.
58:16
Now you know exactly. Now you know who that is.
58:18
But anyways, guys, it's gonna be a great show.
58:21
Sophie and I are gonna go down memory lane talking about 2025,
58:27
you know, just how it's been as a bitcoiner, and it's gonna be
58:30
great. And then we're gonna wrap it up
58:32
for this week. Thank you guys for tuning in, by
58:34
the way, this week, it's been a little bit crazy.
58:37
Shout out to Luke, Mick it. Shout out to Chris Alamo.
58:40
Shout out to Opti, shout out to Sophie.
58:42
You know all been holding it down to make sure that you guys
58:45
get simply Bitcoin live five days a week.
58:49
Rain or shine. So anyways, and I'm gonna be in
58:52
town, by the way, I don't, I don't have any conferences until
58:55
January 31st and Plan B in El Salvador.
58:58
So we're gonna be in the studio making content for you guys like
59:01
always. So stay tuned.
59:03
We're gonna be right back in just a bit.
59:07
I want to give a shout out to our partner Hive Digital
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freedom. All right, everybody, we are
1:01:09
back. So if I want to talk about
1:01:15
during the culture segment, which I think would be very
1:01:17
useful for people watching the show, you know, what it's been
1:01:24
like as a couple during, you know, just living on a Bitcoin
1:01:30
standard, you know, these last 9-9 years or so.
1:01:36
What was it like for you in the early days?
1:01:38
And then I guess I'll I'll tell my story as well.
1:01:42
So I think in the early days it was very painful to realize the
1:01:46
truth of our existence, not just financially, but socially and as
1:01:54
a society. And you know, I think that, I
1:01:58
think that you, I think that you opened my eyes up to that
1:02:02
through orange peeling me. OK.
1:02:06
And but do you want to wow, that was very powerful.
1:02:09
Do you want to elaborate a little bit on like what what
1:02:12
what was it about orange peeling you that opened your eyes to
1:02:16
what? And then what were you?
1:02:18
What, like where was your headspace at before you were
1:02:23
orange peeled? Well, I think before I was
1:02:25
orange pilled, I didn't really have like a deep like concept of
1:02:33
what life was, right? I was living for like short term
1:02:39
pleasures and like wanting to go out with my friends and buy the
1:02:43
latest trend in fashion. And I was going to college and
1:02:49
kind of like reiterating the typical college tropes and stuff
1:02:54
like that. And I didn't really like, I was
1:02:57
just kind of living my life like a paper in the wind.
1:03:00
And that was a feeling that I had, you know, throughout my
1:03:05
entire 20s, like my early 20s before you and I started
1:03:09
talking. And once you talk to me about
1:03:13
Bitcoin, I well, first of all, had never seen the matrix.
1:03:18
And once we saw the matrix, I was like, Oh my God, that's me.
1:03:23
I'm asleep. And I started looking into not
1:03:28
only what finances were and like the what money was, but also
1:03:34
like, why am I believing in the things that I am believing in?
1:03:38
Why do I care about the things that I care about?
1:03:42
That understanding of the base layer of society led me to
1:03:47
understand all of my other incentives and, you know, not
1:03:51
just socially, but medically. What it led me to question a lot
1:03:56
of, you know, the the things that are happening in medicine.
1:03:58
It led me to question what's happening in big food
1:04:03
industries. The like, it led me to question
1:04:05
everything about my life from the moment I wake up to the
1:04:10
moment I go to sleep. And I don't think that I would
1:04:13
have ever started thinking about that stuff if it wasn't for you
1:04:17
orange peeling me. And I had a lot of questions.
1:04:20
I was a really difficult person to orange peel.
1:04:23
I think I was really, really stubborn, right?
1:04:26
And I was kind of skeptical because I just didn't want to
1:04:30
believe that my whole life was a lie.
1:04:33
I mean it what it wasn't, I would say it definitely wasn't a
1:04:36
lie. It was.
1:04:38
It was totally a lie. It was totally a manipulated
1:04:43
reality that wasn't actually real.
1:04:47
Yeah. I mean, I, I, I would say that,
1:04:50
yeah. I mean, in a way, I mean, I
1:04:51
think to kind of add to what you're saying, like I think
1:04:55
people underestimate how much of A role money plays in your life.
1:05:01
Correct. And what happens, what are the
1:05:06
unintended consequences of using a broken and corrupt money?
1:05:11
And I think that people on misunder, like they
1:05:15
underestimate what living on a Fiat standard does to you
1:05:21
psychologically, spiritually, physically.
1:05:26
And I think what we all have to understand as Bitcoiners is, you
1:05:30
know, it, it, it creates a much bigger impact on your life than
1:05:35
than people notice. And, and I'm not talking about,
1:05:38
oh, I'm getting rich or oh, the numbers going to go up and, and
1:05:42
this and this and that. I'm not talking about that.
1:05:44
Like like I'm talking about the fact that if you use Bitcoin as
1:05:50
your unit of account, your perspective and outlook on the
1:05:54
world will be totally different than someone who is still using
1:06:00
Fiat as their unit of account, right?
1:06:03
Like so true 1 you will have hope for the future and the
1:06:06
other one I would say you're nihilistic.
1:06:09
And if you're one of the very few that has been able to
1:06:12
succeed in the Fiat system, they exist, right?
1:06:17
It's still a very material and we've, we've had, we've had
1:06:19
private conversations about this.
1:06:21
It's still a very materialistic lifestyle.
1:06:24
Yes, because you end up having all of this money and power, but
1:06:31
a lot of people don't actually know what to do with it.
1:06:34
They actually like find that their day-to-day has no real
1:06:38
purpose or no real fundamentals. And again, that is one of the
1:06:44
things that Bitcoin helped me realize.
1:06:47
It's like, what do you actually care about?
1:06:49
There's no way that you can care about going out, getting drunk,
1:06:54
going shopping, having this, having that and live that way
1:06:58
for the rest of your life. There has to be more to the
1:07:01
meaning of life. And you know, for a lot of
1:07:04
people, it's, it's God. And for me, it was just like
1:07:10
rediscovering God through asking myself that question.
1:07:14
It was family and, you know, deciding for us to start a
1:07:19
family and to, you know, get off our feet and stop caring about,
1:07:24
you know, whether we were ready or not.
1:07:27
And, you know, finding those deeper purposes, I think lie at
1:07:32
the center of that lies. You know, what is your
1:07:37
conception of value? How are you storing your value?
1:07:40
How do you value yourself? And for us, I think Bitcoin
1:07:44
played a huge role because it's no longer getting devalued by
1:07:49
someone else who can create it for free.
1:07:52
Now we actually have control. And regardless of the price,
1:07:56
like I know a lot of people are panicking today.
1:07:59
You got to really zoom out and maybe this is the moment that
1:08:04
newcomers to Bitcoin because in every cycle there is a newcomer
1:08:08
there and they're paying their dues.
1:08:10
You got to zoom out of the price and actually look at what the
1:08:14
revolutionary aspect of Bitcoin is and what the personal
1:08:17
revolution inside is for. You know this what when once you
1:08:22
discover Bitcoin, so that that was kind of what it was like for
1:08:28
me. And I've realized, like through
1:08:30
the ups and downs, the bear markets, the bull markets, that
1:08:34
the most important thing that Bitcoin has given me isn't
1:08:37
necessarily anything financial, but it's more personal and
1:08:43
spiritual. Yeah, I, I, I think and also it
1:08:47
I've heard that story so many times with so many people,
1:08:50
including myself, too. You don't change Bitcoin.
1:08:53
Bitcoin changes you like that line is so powerful.
1:08:56
It's so true. And again, like your life
1:09:00
changes once you you know, you start using a unit of account
1:09:04
that is sounds. It puts you on an honesty
1:09:06
standard, not just with yourself, but with others.
1:09:10
And when your moral values are founded on honesty and reality,
1:09:16
then you can really like, lead your life as a better person I
1:09:21
would say. Yes, I, I do want to bring this
1:09:23
up. I, I, the, I do want to offer a
1:09:26
correction. So apparently lost liberty 7777.
1:09:30
Appreciate the Super chat $5. Telecoin's charter is not the
1:09:33
same as custodia. That was all entirely wrong.
1:09:35
Just wanted to correct that because what you said was
1:09:38
entirely wrong. Do your own research.
1:09:39
OK, so let's pull up the article and talk about it because this
1:09:45
was not on my radar and we have a pretty good news AG system, so
1:09:50
we tend not to miss things. But let's check out the article.
1:09:55
Sometimes we do. Telecoin Digital Asset Banks
1:09:58
Nab's final charter approval Telecoin received final charter
1:10:03
approval Wednesday from the Nebraska Department of Banking
1:10:06
and Finance to launch Telecoin Telecoin digital asset bank
1:10:10
authorizing the bank to take crypto deposits, provide crypto
1:10:14
loans and connect to coveted Federal Reserve payment rails.
1:10:20
So if that's true, like that's a big deal.
1:10:23
So our charter makes history not just for Telecoin, but for the
1:10:27
entire U.S. banking system. We're proving that a bank can
1:10:31
issue on TAID, on change digital cash responsibly, and operate in
1:10:36
full alignment with US regulators.
1:10:38
EUSD brings the speed, transparency and affordability
1:10:41
of blockchain into everyday finance in a way that anyone
1:10:45
could use. So what I will say about this is
1:10:51
it sounds like they got approval for a stablecoin.
1:10:55
Just reading this article. There's no mention of Bitcoin.
1:10:59
And again, the reason I'm I'm such a big fan of Custodia is
1:11:03
like it. It provides a bank for
1:11:07
bitcoiners to kind of interact with the banking system without
1:11:12
all the cause. The way that it works now is if
1:11:16
you want to buy Bitcoin, you either do it via ACH or you do
1:11:21
it via wire transfer. And the process is a pain in the
1:11:24
ass. But you can't actually buy
1:11:25
Bitcoin within the bank and then send that Bitcoin to a self
1:11:30
custody thing. So you have to do this like send
1:11:32
a wire transfer to an exchange, send an ACH to an exchange, and
1:11:37
then that that clears and then it goes to yourself custody
1:11:41
wallet address, right? That's the process.
1:11:44
Ideally where we want to get to is you have a pro Bitcoin bank.
1:11:49
I don't trust any of the big banks with this, by the way.
1:11:51
So I think we need like a new bank.
1:11:54
That's why I trust what Caitlin is doing with Custodia and what
1:11:58
what Kraken is doing as well. And it would be awesome to just
1:12:04
have a checking account and then being able to buy Bitcoin as
1:12:08
well directly from your checking account and then send that
1:12:11
Bitcoin directly to self custody all within one platform like
1:12:13
that would be fantastic. It sounds like from the from the
1:12:17
Telecoin article, it sounds like what they're really talking
1:12:20
about is a stablecoin. I mean, I think stablecoins have
1:12:26
done amazing things for the global S They've given people
1:12:31
access to a better form of Fiat, which again, like sounds
1:12:37
terrible saying that as a bitcoiner.
1:12:39
But if you're going from like 2030% inflation or 100%
1:12:43
inflation year to date and you transition to the US dollar, you
1:12:47
know, like that's going to make your life a whole lot better.
1:12:50
It's giving people the ability to store their wealth in
1:12:53
dollars, which is a privilege that, you know, maybe you and I,
1:12:58
or Americans in general, take for granted.
1:13:02
So lost liberty said no, they're they're able to issue stable
1:13:11
coins. They have they already have
1:13:12
multiple stable coins. EUSD is their dollar stable.
1:13:15
They also have others, including an ESDR. See the The thing is
1:13:20
got like first of all, I appreciate the Super chats.
1:13:23
That's number one. That's number one.
1:13:27
Also shout out to Elda Elda Elda Elda's in the house but what I
1:13:33
will say is Ilda swaga swaga swaga dying ilda.
1:13:45
But what I will say is la hefa. But what I will say is, well, I
1:13:54
lost my train of thought. Ilda got in your head.
1:13:57
Ilda got in my head. Ilda gets in my head all the
1:13:59
time. She's a very smart lady, that.
1:14:02
Woman, she's very, she's very wise.
1:14:04
Buys the bottom every time. Every time.
1:14:07
Every time. You know she's freaking out
1:14:09
right now though, right? Ela, you should buy more.
1:14:12
You should buy more. You should buy more.
1:14:15
But yeah, so going back to this. By the way, Ela is my swaggadat
1:14:23
for anyone doesn't know. And if you don't know what a
1:14:25
swaggadat is, just. Look it up.
1:14:28
But going back to this, going back to this.
1:14:33
So yeah, I mean look like I I'm like if you're in the US, like
1:14:41
stable coins don't really do a lot in in the US like the the
1:14:46
banking system here is pretty efficient.
1:14:48
There's so many different payment platforms like PayPal,
1:14:52
someone in the chat, go, I'll go.
1:14:54
There's so many payment platforms like Zelle, like
1:14:57
PayPal, like Cash App that like Cash app just integrated Bitcoin
1:15:04
payments for for point of sale. Like there's so many of these
1:15:10
things, but you have to understand, like for the Global
1:15:12
South, the banking system's atrocious.
1:15:16
It's terrible, right? So stable coins are actually
1:15:18
like a lifeline for the Global South.
1:15:20
And I actually had the, the privilege and the honor of being
1:15:23
able to interview the Tether CEO, Paolo Paolo Arduino and
1:15:31
Lugano and he, they're Bitcoiners.
1:15:34
The Tether guys are, are, are Bitcoiners.
1:15:36
I, I love them in that, in that, in that regard.
1:15:38
Well, they're doing basically what the US government should be
1:15:42
doing, which is. I don't, I don't think, I don't
1:15:45
think Yeah, they're buying Bitcoin too the.
1:15:48
Tether the tether guy the tether.
1:15:50
Guys are hardcore bitcoiners, which I I love.
1:15:52
And one of the things that Balo said during his interview is
1:15:56
like, look like, I think that, you know, Tether is an on ramp
1:16:00
towards Bitcoin, right? And that's so powerful to hear
1:16:03
that, you know, from the CEO of, like the largest stablecoin
1:16:07
issuer on planet Earth, right? Imagine if people in the global
1:16:10
S realize that and they not only started buying Tether, but they
1:16:16
also started storing their wealth in this as a savings
1:16:20
account in Bitcoin. I think one thing leads to
1:16:22
another, I think. For sure.
1:16:24
I think one lead one, one thing leads to another, right?
1:16:28
So anyways, guys, thank you so much for tuning in.
1:16:32
We appreciate you all. This was a long week, eventful
1:16:35
week. Very long week.
1:16:37
Many, many conferences, many plane rides, but we appreciate
1:16:42
you all. Thank you guys for tuning in.
1:16:44
If you guys like the show, you know, to smash the like button,
1:16:46
consider subscribing. And of course, we'll see you on
1:16:49
Monday. And I, I want to dedicate this
1:16:51
show to Ilda. I see you're in the chat.
1:16:56
So Ilda, you should smash by but not financial advice.
1:17:01
But anyways, guys, we'll take care.
1:17:02
Have a have an amazing weekend, enjoy the family, get some sun,
1:17:05
touch some grass and we're back on Monday for a brand new
1:17:09
episode of SB Live. Today's episode was brought to
1:17:12
you by bitcoinwell.com, a Bitcoin only platform on a
1:17:16
mission to enable financial independence.