Latest / Simply Bitcoin / $867B GIANT Sends A HUGE Bitcoin WARNING (YOU HAVE 9 MONTHS) | EP 1468

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$867B GIANT Sends A HUGE Bitcoin WARNING (YOU HAVE 9 MONTHS) | EP 1468 · Simply Bitcoin

• 0:02
  When an $867 billion firm drops a new report on Bitcoin, I pay
• 0:09
  attention and you probably should too.
• 0:12
  Look, there's going to be a lot of interesting angles that we
• 0:15
  will dive into today. But one of them and the main one
• 0:18
  for today's show is suggesting that we might be see we might be
• 0:23
  seeing Bitcoin bottom out already, or rather it might be
• 0:27
  currently bottoming and we could have seen the worst behind us,
• 0:31
  which is what I've been kind of saying.
• 0:33
  Obviously I could be wrong here, but the reason for this
• 0:37
  prediction, the reason for this report, this analysis is really
• 0:42
  based on Bitcoin treasuries like Michael Saylor basically buying
• 0:46
  all of the Bitcoin. Now, the craziest part about
• 0:50
  this report is they didn't even factor in the fact that Michael
• 0:56
  Saylor just made a huge announcement that he's going to
• 0:59
  buy $44 billion of Bitcoin, or I think it's really closer to $42
• 1:03
  billion of Bitcoin. So this is just their overview
• 1:07
  of Bitcoin treasuries as they were before yesterday.
• 1:11
  And of course, we covered that on yesterday's show.
• 1:13
  Well, Bernstein, the firm I'm talking about isn't the only
• 1:17
  firm getting bullish. We also have another research
• 1:20
  firm, K-33 saying the same thing.
• 1:23
  So the question for you, the question for me today is really,
• 1:28
  does Wall Street know something about Bitcoin that we don't?
• 1:34
  Do they have some inside baseball?
• 1:36
  Do they have some Intel that isn't Privy to the public
• 1:40
  consciousness yet? That's been the conversation
• 1:43
  we've been having for a while, whether it's Sailor, whether
• 1:46
  it's the politicians, whether it's these Wall Street firms.
• 1:50
  And there is a bit of a paper trail to back up what
• 1:54
  potentially is coming down the pipeline.
• 1:56
  So enough of that, enough of me, you know, grandstanding here.
• 2:01
  Let's get into this. This is and and I, I did find
• 2:05
  the original report, but it's all behind a paywall.
• 2:08
  And I, and I can't actually show you that because the only way I
• 2:11
  could get it, it's through archive and I can't do that on
• 2:15
  YouTube. OK, so we're going to have to
• 2:18
  take Bitcoin magazine's word for this.
• 2:20
  But it, it's the same I, I did verify this anyways, the
• 2:23
  headline is Bernstein, Bernstein Alliance again, $867 billion
• 2:27
  firm. It is a Wall Street firm.
• 2:30
  It's predicting that Bitcoin already bought them and and they
• 2:34
  are maintaining their 150K target by end of year.
• 2:37
  So for my boy in the chat, Senor Gringo, I believe it's you that
• 2:40
  always asks when 150 Ki think end of year at at minimum.
• 2:46
  OK, we're going to lock it in. And they're really emphasizing
• 2:51
  micro strategy because of how much Bitcoin they hold.
• 2:55
  And again, like I said, they didn't factor in the fact that
• 2:58
  as we heard yesterday, Sailor is going to raise 42, sorry, $42
• 3:04
  billion, potentially buying another 605 hundred, 400,000,
• 3:12
  essentially getting to 1.3 million or at the very minimum
• 3:15
  1,000,000 coins by the end of the year, potentially within the
• 3:19
  next three months, which is just going to be absolutely insane.
• 3:22
  So Bernstein, a Wall Street broker, believes Bitcoin has
• 3:27
  probably reached its bottom and maintains 150K target for the
• 3:31
  end of the year. Not going to read the whole
• 3:33
  thing. I'm just going to kind of give
• 3:34
  you, you know, the play by play here again, of course,
• 3:37
  reaffirming 150K by end of year. Obviously the main indicator
• 3:42
  here is strong ETF inflows and then growing corporate treasury
• 3:47
  demand support a rebound. If you're looking at the chart,
• 3:51
  it is, it is looking a little healthy.
• 3:53
  I, I know, I know the four year cycle theory still in play.
• 3:58
  We're all waiting for a final capitulation moment, but I'm not
• 4:02
  the only one saying this. We have multiple people,
• 4:04
  multiple analysts, I would say smarter than me saying, hey,
• 4:09
  we're seeing a lot of things that usually historically, not
• 4:12
  just in Bitcoin but in traditional markets is lining up
• 4:17
  with a bottom forming. So analysts led by Guadem
• 4:21
  Chugani, forgive me, highlighted that strategy.
• 4:24
  A high beta proxy for Bitcoin remains resilient, now holding
• 4:27
  roughly 3.6% of total Bitcoin supply valued at around $53.5
• 4:32
  billion, which of course, when they raise this money, they can
• 4:38
  get close to 7% of total supply and roughly $100 billion of
• 4:45
  Bitcoin on their corporate balance sheet.
• 4:48
  So they're using the standard what Sailor and strategy has
• 4:53
  done to this day and not really factoring in the fact that he
• 4:58
  might double those holdings. So this could be an
• 5:03
  underestimation of where we're going, but hey, I don't want to
• 5:06
  get too ahead of myself. I, I, I actually saw a good
• 5:09
  comment in the chat and you guys probably don't care, but someone
• 5:11
  said something on the lines of I need Opti's optimism and I need
• 5:15
  Nico's grounding. So I'm here giving you the bull
• 5:19
  sauce. Nico is next to me.
• 5:20
  I'm sure he's going to bring me back down to reality.
• 5:24
  But anyways, it goes on. The firm has continued adding to
• 5:27
  its holdings. Obviously they, they're using
• 5:30
  old numbers here, 7.3 billion. This is what has happened coming
• 5:35
  down the pipeline very soon it's going to be as high as 42.
• 5:38
  Actually, if you add this, it's as high as 50 billion.
• 5:40
  Literally the amount of Bitcoin that they hold they're about to
• 5:44
  buy within the next couple of months.
• 5:45
  It's it's just it's nuts. Anyways, they also noted, of
• 5:48
  course, rising interest in strategy stretch, which we've
• 5:52
  been covering. It's really I think that iPhone
• 5:55
  moment meme has really caught on with the idea of stretch, but
• 5:59
  not necessarily for Bitcoin at large, but just for micro
• 6:03
  strategy. Sailor has had his iPhone moment
• 6:06
  was stretched it the interest the capital that is coming into
• 6:09
  this product it it's almost unbeatable at this point and
• 6:13
  there's there's companies trying to beat it.
• 6:16
  I don't know if you guys saw but open AI is doing their own kind
• 6:19
  of it's not digital credit, but it's like a private credit where
• 6:23
  they're guaranteeing 17 1/2 returns.
• 6:27
  What? What's Nico got here all?
• 6:29
  Right, all right, all right. I.
• 6:30
  Didn't even get I didn't even get to the rest of it.
• 6:32
  We're already getting bearish. We're not getting.
• 6:35
  Bearish, bro, let me let me get this out before you rain on our
• 6:38
  parade, OK? All right.
• 6:40
  OK. So it ends with.
• 6:44
  Despite bitcoin's pull back from late 2024-2025 highs, the broker
• 6:48
  characterized the correction as a temporary reset in sentiment
• 6:53
  rather than a breakdown in fundamentals, with institutional
• 6:56
  flows and ETF demand pointing to further upside.
• 7:00
  But I like bullish sauce has probably more than anyone.
• 7:06
  And again, I have been mentioning the TA meme.
• 7:10
  You know, Nico Nico's watching the antelope documentary.
• 7:13
  I'm watching the lion documentary here.
• 7:15
  So Nico's got the bearish perspective.
• 7:17
  What you're going to hear soon, or or rather we'll do balanced
• 7:19
  perspective. I'll give you the opium.
• 7:22
  Nico will give us the balanced perspective.
• 7:24
  Anyways, going further, again, like I said in the beginning, it
• 7:27
  wasn't the only firm saying this.
• 7:28
  This is, this is not the, if this was 1 analyst saying this,
• 7:33
  then it probably would be, you know, some slop it it'd be, it'd
• 7:37
  be some noise. But we have multiple people
• 7:40
  saying this multiple firm, multiple analysts that I would
• 7:42
  presume are not sharing the same information with each other so
• 7:47
  that they get the same reports to come out.
• 7:49
  I'm guessing that these both happen, you know, objectively in
• 7:54
  parallel, not working together. That's my guess.
• 7:56
  I don't really know, but that's what I would probably just, you
• 8:00
  know, logically think is happening to different firms
• 8:03
  coming to the same conclusion. Personally, when I hear multiple
• 8:06
  people coming to similar conclusions as I doing their own
• 8:10
  analysis, I'm like, OK, hey, you confirmed my bias.
• 8:12
  I'm totally on board with this. So anyways, we saw this morning
• 8:16
  Bitcoin Mag tweeted K-33 research reports that Bitcoin
• 8:19
  may have found a market bottom and now is attractively priced
• 8:23
  for long term investors. So you know, you know what you
• 8:27
  got to do on Twitter. I went to find this report.
• 8:30
  I had to Fact Check this. You got to Fact Check stuff
• 8:34
  because of how Twitter is right now.
• 8:36
  There is a lot of engagement farming.
• 8:38
  So you see a lot of click bait tweets.
• 8:41
  You got to verify them. So I went and verified them.
• 8:44
  I went to K-33 and the closest I found was a recent report that
• 8:49
  came out about a week ago or two weeks ago now and it's titled 20
• 8:53
  million Bitcoins. So this is a tad old but it is
• 8:58
  saying basically the exact same thing.
• 9:00
  Bitcoin hold near holds near 70K after a strong week despite the
• 9:04
  war in Iran. Bearish positioning,
• 9:06
  persistently negative funding, and low CME engagement point to
• 9:10
  defensive sentiment but also an attractive risk reward set up
• 9:14
  for Bitcoin. Which is what we've been saying,
• 9:16
  this is the least risky time to be, to be buying Bitcoin.
• 9:20
  Whatever you think is going to happen this year or within the
• 9:24
  next couple of months. Bitcoin, in our opinion as
• 9:27
  people that have been in Bitcoin for a long time, I think it's
• 9:31
  almost, I wouldn't say completely de risk, but the risk
• 9:35
  analysis that we used to have on Bitcoin, at least from an
• 9:38
  institutional perspective, I think it's totally out the
• 9:41
  window. Things are shifting very fast.
• 9:43
  The, the, I wouldn't say Bitcoin is going to be completely de
• 9:47
  risk, but we're starting to see that the riskiness, quote UN
• 9:51
  quote from Main St. institutional sentiment is
• 9:56
  starting to go away because of what we're seeing come out of
• 9:59
  Washington, DC and the Trump administration and of course,
• 10:02
  the big news, the SEC and the CFTC.
• 10:05
  So again, this is behind a paywall, but we'll get a little,
• 10:08
  we'll we'll get a little nugget in here and I'll make my case of
• 10:12
  what they're saying and how the data is backing it up.
• 10:15
  So we got market indicators still point to cautious
• 10:19
  positioning. Funding rates remain negative.
• 10:21
  Options data shows continued demand for downside hedging,
• 10:25
  which is what we've been kind of talking about on the show.
• 10:28
  And CME participants suggest institutional investors remain
• 10:31
  defensive. These conditions, though often
• 10:34
  seen near broader market bottoms, indicate under
• 10:38
  allocation and bearish sentiment, which could support
• 10:41
  further upside for Bitcoin from current levels 60K70K.
• 10:47
  We're starting to see the institutional demand come in.
• 10:50
  We're starting to see Sailor FOMO into this at levels we
• 10:53
  haven't seen in a while, literally doubling his whole
• 10:56
  holdings. We're starting to see ETF
• 10:58
  inflows go crazy. Glass node followed this up this
• 11:01
  morning, or rather this was last night or yesterday, sorry.
• 11:05
  And they're doing their analysis on chain analysis of what is
• 11:08
  happening in the market. And they go awaiting liquidity.
• 11:12
  Bitcoin is stabilized around 70K with ETF floating and sell side
• 11:16
  pressure easing, which is also what we've been kind of
• 11:19
  wondering like who is selling Bitcoin right now?
• 11:21
  Who even has Bitcoin to sell right now?
• 11:23
  After the 1010 crash and the other crash in November?
• 11:28
  It doesn't seem like anyone has Bitcoin to sell.
• 11:30
  It seems like the buying is starting to pick up.
• 11:32
  Most of the uncertainty that we're seeing is because of all
• 11:35
  the chaos in the Middle East. Add to that, we are seeing a
• 11:39
  liquidity crisis in traditional financial markets, which is
• 11:43
  starting to show. Maybe people are trying to go a
• 11:47
  little further on the risk curve, though I did see a chart
• 11:51
  and I haven't brought it up on the show.
• 11:53
  But retail sentiment right now is essentially they're, they're
• 11:58
  in the least risky positions that they think and they imagine
• 12:02
  to be, which is of course they're going into cash.
• 12:04
  So retail capital is sitting on the sidelines right now trying
• 12:09
  to make sense of the fog of war that we are currently in.
• 12:13
  So once all that capital does find its position or rather
• 12:16
  seems like there is some signals where they can deploy capital.
• 12:21
  It's as last note said, we are awaiting liquidity.
• 12:24
  So however, muted spot volume and overhead supply suggests
• 12:27
  stronger demand is still needed to turn this into a recovery.
• 12:30
  So you take all these together, they are kind of all saying the
• 12:33
  same thing really. No one's selling.
• 12:36
  We're kind of just waiting for some new demand to come in.
• 12:39
  Maybe it's a new retail FOMO wave, maybe it's the regulatory
• 12:43
  clarity, maybe it's the Clarity Act.
• 12:45
  And we are hearing some rumors that we might get some clarity
• 12:49
  on the Clarity Act today. Seems like the stablecoin yield
• 12:53
  compromise might have happened, though there still is some split
• 12:57
  and I think some debate to have. But as you can tell, a lot of
• 13:01
  liquidity, a lot of a lot of capital.
• 13:03
  You know, someone asked me yesterday, what, what do you
• 13:04
  mean by capital? We, we just mean money or wealth
• 13:07
  sitting on the sidelines or, or in people's portfolios.
• 13:10
  Just capital in general. It's sitting on the sidelines
• 13:13
  waiting to position themselves because, look, let's all be
• 13:16
  honest, if you're watching Trump's tweets and what's
• 13:20
  happening in the Middle East, I don't think any of us can really
• 13:23
  say we know exactly what's happening.
• 13:26
  There is, you know, A2 contending views right now.
• 13:30
  One is essentially Trump's bluffing and lying, and
• 13:34
  nothing's been resolved in the Middle East.
• 13:37
  And then you have kind of the more, I don't know, tinfoil hat
• 13:40
  view where it's like, oh, no, there's backroom deals.
• 13:43
  There's compromises happening in real time.
• 13:45
  Just give it a week or two and everything will be a lot
• 13:48
  clearer. I think if you just kind of hold
• 13:51
  these two opinions somewhere in the middle, it's probably more
• 13:53
  of the truth. But anyways, I told you I got
• 13:56
  some more data. We're going to show you some of
• 13:58
  the data here. And I'm going to start with a
• 14:01
  clip that was on Bloomberg from Eric Balkunis, of course, the
• 14:06
  senior ETF analyst, and he did a crazy post yesterday just
• 14:10
  showing the inflows, the amount of interest in Bitcoin from
• 14:13
  institutions going into to ETF. You could call it paper Bitcoin
• 14:17
  if you want, but it is a new ball game.
• 14:20
  It's not. We're not in the same market we
• 14:24
  were last year where gold was absolutely ripping and Bitcoin
• 14:27
  didn't do anything. It's almost like the roles have
• 14:31
  reversed. So this is a short clip and then
• 14:33
  I got a couple of tweets for you.
• 14:35
  This is interesting. Both of the big gold ETF seeing
• 14:38
  outflows, you know, a lot of people were kind of dumping on
• 14:41
  Bitcoin for not being the safe haven store of value about two
• 14:44
  or three months ago. And gold was, well, the roles
• 14:48
  have been reversed. I think you shouldn't really
• 14:50
  judge these assets over a couple weeks or months anyway.
• 14:53
  So I think both are store of values.
• 14:55
  One's just a little more sturdy, one's a little younger, but you
• 14:58
  know, they work in different ways.
• 15:00
  They're more like 0 correlated, not inverse.
• 15:03
  Interesting, interesting change. Usually we've heard, hey, gold
• 15:07
  and Bitcoin have this inverse correlation.
• 15:09
  Currently they're kind of acting in whatever way they both want
• 15:14
  to act. They're kind of autonomous.
• 15:15
  Maybe Bitcoin, being 17 now, is growing up and he's like in his
• 15:19
  rebellious teen stage and he's like, I don't care what my big
• 15:22
  uncle Gold's doing. Like F him, I'm going to do my
• 15:25
  own thing right now. That's kind of, you know, if you
• 15:28
  want to put a what, what, what's it when you when you put human
• 15:31
  attributes on, on something that isn't live, whatever, you know
• 15:35
  what I'm saying? Personification.
• 15:38
  Is it personification? I think it's another word.
• 15:40
  But anyway, you get the point. Whatever, who cares?
• 15:43
  Anyways, to back up that claim, Eric Balcounis tweeted this
• 15:47
  about how strong the ETF inflows are right now for Bitcoin
• 15:51
  compared to the broader market, and it is painting a pretty
• 15:54
  interesting picture to say the least.
• 15:56
  Now, I know some of you guys in the chat and even us here on
• 15:59
  this side of the camera, we're not the biggest Bitcoin ETF
• 16:02
  fans, but again, this is a new interest in Bitcoin that we
• 16:07
  haven't had before. And Eric Balkunis goes, so here
• 16:11
  we see at the bottom US spot Bitcoin ETF has strong inflows.
• 16:14
  Yesterday, obviously strategy said they're going to buy $42
• 16:19
  billion of Bitcoin. We have a new Morgan Stanley
• 16:23
  Bitcoin ETF coming soon and we're under, you know, 100K
• 16:28
  right now. It it's like it just but so much
• 16:31
  good news and yet Bitcoin isn't doing anything.
• 16:35
  We it's really a different time in Bitcoin in the past, Nico,
• 16:38
  remember any amount of literally no, like the slightest amount of
• 16:43
  good news. So the price pump.
• 16:45
  But hold on. Let me let me get this tweet and
• 16:46
  then and then I'll I'll let you RIP Nick.
• 16:49
  Nico. No.
• 16:56
  No. No, I I meant to say Niko, that
• 16:58
  was totally not what I meant to do.
• 17:00
  Anyways, it goes yeah, Bitcoin ETFs are now 2 1/2 billion
• 17:06
  dollars for for a month and one good day away from completely
• 17:10
  digging out of their year to date flow hole.
• 17:13
  I bet it's already there and then some and it's in the top 2%
• 17:17
  among all ETFs and year to date flows.
• 17:20
  Again, incredible fortitude in the face of a 40% six months
• 17:24
  price drop and widespread media pile on.
• 17:27
  For context, when gold fell 40% in short term frame about 10
• 17:32
  years ago, it saw a third of its investors bail.
• 17:35
  Not that that's a bad either, that's normal, but Bitcoin is
• 17:39
  just abnormal. And I think this really does
• 17:43
  lead into obviously we don't know what's happening.
• 17:47
  We could have another capitulation.
• 17:49
  I know a lot of us Bitcoiners, including Nico, are waiting for
• 17:52
  a final capitulation events, you know, a huge dump.
• 17:57
  But I think that last point really does go into the idea of
• 18:02
  what we're seeing happen in gold right now and what we're seeing
• 18:07
  happen in Bitcoin based on the theory we all had of how gold
• 18:12
  acts in the system and what Bitcoin is.
• 18:16
  It is abnormal, which is what I've been saying the last couple
• 18:19
  weeks. And I know my my time frame is
• 18:22
  short. It's it's only been the last
• 18:24
  three weeks I'm zooming in. I guess now we're on the 4th
• 18:27
  week, I am zooming in for the last month.
• 18:29
  That just kind of makes sense of where we currently are.
• 18:33
  But the price action, the strength of Bitcoin in the face
• 18:37
  of all the uncertainty is totally abnormal.
• 18:40
  So look, I know Nikko's going to be bearish on us and, you know,
• 18:43
  hold your tomatoes. But what if they're right?
• 18:49
  What if Sailor buying another $42 billion of Bitcoin or the
• 18:54
  Bitcoin treasury companies as well, just fundamentally almost
• 18:58
  single handedly take us out of what we expect this bear market
• 19:03
  to be, which is a final capitulation drop.
• 19:06
  That's my bullish case. That's the optimism for today.
• 19:10
  Now let's now let's get a little rain on our parade.
• 19:13
  So Nico, what's your thoughts on this?
• 19:15
  Actually, I think we know what where you're going to stand, but
• 19:17
  I didn't mean to cut you off. So your turn, Nico.
• 19:20
  Go. Look, I, I, I think it comes
• 19:23
  down to this and I, and I said this yesterday.
• 19:28
  So look, we are in a four year cycle until that's broken right
• 19:35
  now, that hasn't been broken yet.
• 19:37
  That's the reality of of bitcoins recent price action.
• 19:42
  It is literally history repeating itself like it has
• 19:46
  done every other cycle. I know that Opti kind of took
• 19:52
  the other side of this argument in October.
• 19:57
  I, I, I remember I was telling you guys and I got so much heat
• 20:00
  from you guys when I was, when I was, when I called it out and I
• 20:03
  said, I think we topped. I think that was the cycle top.
• 20:07
  Because I remember it was like this, this gut feeling of like,
• 20:11
  oh, I, I remember this feeling. I know this feeling.
• 20:15
  It's kind of like when they turn the lights on at a party where
• 20:17
  you're having a good time. Like you kind of know, like it's
• 20:20
  over, right? And I remember having that
• 20:23
  feeling in October. Now I think the reason it caught
• 20:25
  a little, a lot of people off guard was because the party
• 20:30
  really never got good. Like, you know, it was building
• 20:33
  and building and building and building.
• 20:35
  But you know that great DJ either cancelled, he never came
• 20:38
  like you know, or. He was drunk and was asked or.
• 20:43
  It just got shut down early, right?
• 20:45
  Like you know, or, or, you know, it just got shut down early.
• 20:47
  You, you were thinking that you're going to stay there till
• 20:49
  like 2:00 AM and you know, they turned the lights on at like
• 20:52
  not. And the fire marshals came in.
• 20:56
  Exactly and you know, they turn the lights on like 9:00 PM.
• 20:59
  So it caught a lot of people off guard because we never had this
• 21:01
  euphoric phase in, in this Bitcoin bull cycle.
• 21:04
  We we we topped on apathy. We topped on people just not
• 21:07
  caring anymore. They got tired.
• 21:10
  But again, if you look at the four year cycle theory, we
• 21:14
  topped exactly where went when we were supposed to top, which
• 21:19
  was October, which was like which is October, which is
• 21:24
  exactly where we were supposed to top.
• 21:26
  And right now the price action is behaving like a typical bear
• 21:32
  market year, right. So you know, despite all of
• 21:36
  these things happening, right, like Bernstein and Michael
• 21:40
  Saylor and strategy, we were talking about it on yesterday's
• 21:42
  show. The amount of Bitcoin that
• 21:44
  strategy is actively buying on a daily basis with with just their
• 21:49
  stretch product alone is buying more Bitcoin daily than is is
• 21:53
  actively being mined on a weekly basis, right.
• 21:58
  But all of that being said, right, this previous cycle, we
• 22:03
  kind of had a little bit of pie on our face because we said the
• 22:07
  meme Opti said the meme in November and December.
• 22:10
  This time is different. I'm sorry, guess what, ladies
• 22:14
  and gentlemen, this time ain't no, it wasn't different.
• 22:17
  The four year cycle played out exactly the same like it has in
• 22:22
  every other Bitcoin cycle. So I think the question on
• 22:27
  everybody's mind and what we're going to be observing this year,
• 22:30
  it's going to be a learning experience.
• 22:32
  You guys know where I stand, you guys know where Opti stands.
• 22:35
  Regardless, I think you know, time in the market beats timing
• 22:40
  the market. Ultimately, fundamentally you
• 22:42
  shouldn't be you shouldn't be trading this thing whatsoever.
• 22:46
  But what I will tell you is guys, on a fundamental level,
• 22:52
  like on a, on a very basic one O 1 level is, is the cycle theory
• 22:59
  going to break? Is the cycle theory going to
• 23:01
  break? Because right now that is the
• 23:04
  only theory that has remained intact.
• 23:07
  All the indicators that normally indicate that we have topped all
• 23:14
  of those broke last cycle and it caught everyone off guard.
• 23:18
  The only thing that has remained intact is the four year cycle
• 23:23
  theory. So until that four year cycle
• 23:27
  theory theory breaks unless we end the year.
• 23:30
  You know, I I'm seeing these posts at like 150K200K does the
• 23:36
  four year cycle theory is intact?
• 23:39
  And what is the four year cycle theory saying?
• 23:42
  The four year cycle theory is saying that for the rest of the
• 23:44
  year we might go lower. That's what it's saying.
• 23:48
  Despite all of this Bitcoin accumulation, which really kind
• 23:52
  of has you scratching your head a little bit.
• 23:54
  Yeah, Who's selling, right? Like who the F is selling?
• 23:57
  And why is the four year cycle theory so powerful, right?
• 24:01
  Is it like is it like a self fulfilling prophecy where like
• 24:05
  the Ogs are just so convinced they.
• 24:08
  Just dump on our heads because. At the end of the day, guys like
• 24:11
  fundamentally the the vast majority of the Bitcoin supply
• 24:15
  is held by individuals. Alex Leishman did post
• 24:19
  something, it was like a couple weeks ago or so where he did
• 24:23
  indicate and he did show that this cycle it actually did
• 24:27
  change. Where like the vast majority of
• 24:29
  accumulation is happening by institutions and businesses, but
• 24:33
  still the vast majority of Bitcoin till this day, right now
• 24:38
  is still held by individuals. And I actually have something
• 24:43
  for you guys during the numbers where Willy Wu actually explains
• 24:48
  why we didn't have a kind of euphoric blow off top this
• 24:53
  cycle. And he kind of does a deep dive
• 24:55
  into it. So my base case again is the
• 25:00
  four year cycle. I've been saying it since
• 25:02
  October. I have not changed my stance.
• 25:04
  The four year cycle is intact until it breaks.
• 25:09
  What would it, what would it take for it to break?
• 25:12
  What would it take? I think that's the question,
• 25:14
  right? I think we would need to see
• 25:17
  Bitcoin sustainably above $100,000 Midsummer or October of
• 25:24
  this year for me to be convinced that the four year cycles is
• 25:28
  over. Until that, until that point,
• 25:31
  I'm still convinced. Now, what could be different,
• 25:35
  and that's yet to be determined, is are we just going to chop
• 25:39
  solidate instead of the usual capitulation in the usual market
• 25:43
  dump because of how much Bitcoin is being acquired, right?
• 25:49
  Are we going to do that? And another thing that Opti
• 25:52
  brought up, which I thought was, was, was on point is guys, back
• 25:56
  in 2017, you guys don't know if you guys weren't around, right?
• 26:01
  The what we call the good old day, we didn't realize how good
• 26:04
  the good old days were. Bitcoin would pump on a rumor,
• 26:09
  right? Literally so.
• 26:10
  Like literally, if it was and it was like bullshit articles, it
• 26:13
  was like fake articles that would come out and it was like
• 26:16
  BlackRock interested in Bitcoin. Totally.
• 26:18
  They totally probably weren't. I mean, it was.
• 26:19
  Just it was like 6 years earlier, it was like 4-5 years
• 26:23
  before they even happened. Whatever, if that type of
• 26:26
  article would hit the market, Bitcoin that day would pump 25%,
• 26:31
  right? So it's, it's reached an asset
• 26:35
  class. It's, it's reached such a size
• 26:37
  as an asset that at this point, that type of breaking news isn't
• 26:44
  really going to move the needle. I think the only thing that's
• 26:47
  going to move the needle right now is 2 pieces of legislation,
• 26:51
  sorry, two pieces of news breaking.
• 26:53
  Number one is the United States Strategic Bitcoin Reserve.
• 26:57
  I don't think that's going to happen.
• 27:00
  The Republicans are more than likely going to lose the House
• 27:03
  in November. Trump is going to get impeached.
• 27:07
  I hope the Clarity Act gets passed.
• 27:09
  Now going back to the Clarity Act, right, we had Frank Holmes,
• 27:13
  the executive chairman of Hive Digital Technologies, which is a
• 27:16
  publicly traded Bitcoin miner and HBC company.
• 27:21
  And he said that if the Clarity Act gets passed, we're going to
• 27:26
  see $250,000 Bitcoin. And I've heard that from other
• 27:32
  very intelligent people in the industry as well.
• 27:35
  I think that if the Clarity Act gets passed, I think that is the
• 27:39
  type of thing that will push the price of Bitcoin up 100%.
• 27:44
  But those are the only two pieces of news, right?
• 27:47
  We had it so easy back then. Wait, what was the other one you
• 27:50
  said clarity act and what so? The Clarity Act passing.
• 27:53
  Yeah, yeah, I got that right now.
• 27:54
  Sorry, I was, I was in the chat. So what was the other one?
• 27:57
  The Clarity Act passing and then a the strategic Bitcoin reserve.
• 28:03
  Yeah, OK, Yeah, sorry. Yeah, I was, I was agree with.
• 28:06
  Yeah, yeah. That's not gonna.
• 28:07
  Happen So Strategic Bitcoin Reserve or the Clarity Act.
• 28:09
  Now I do want to take a look at what the odds are for the
• 28:12
  Clarity Act. The Clarity Act right now is at
• 28:15
  64% that it passes, right. So it is actually above what you
• 28:25
  know it is above 50%, which I think is a is a very good sign
• 28:30
  for sure. But I would say those are the
• 28:36
  only two pieces of news that that would move the needle.
• 28:39
  Opti I would say those are the only two pieces of news that.
• 28:41
  We need and. Then let's talk a little bit
• 28:44
  about before we move on to the next segment, a little bit about
• 28:46
  what we were talking about yesterday regarding Stetsky and
• 28:51
  all of that stuff. So I think, and I also talked
• 28:56
  about this on Roxim as well, Bitcoin right now is entering a
• 29:00
  new phase of its life. What do I mean by that?
• 29:04
  The era of early adopters is over.
• 29:08
  We're entering the era of the early majority, right?
• 29:13
  The early majority. That's where we are in kind of
• 29:16
  the adoption curve, which is really exciting.
• 29:21
  But also, you know, you kind of have this, like you kind of have
• 29:26
  this, this feeling of, of, you know, of, of nostalgia of the
• 29:32
  early days, right? The, the early days of, of the
• 29:37
  Wild West, of the, of the crazy volatility of, of, of all that
• 29:41
  stuff. I still think we have
• 29:44
  volatility. I still think we have massive
• 29:47
  upside in Bitcoin. You know what, it's only just
• 29:51
  extended over a period of time. That's the only difference
• 29:55
  between Bitcoin, Bitcoin back in 2017 and Bitcoin today is that
• 30:04
  these volatile movements do happen, but they happen over
• 30:09
  longer periods of time, right? That's the only difference.
• 30:13
  But the volatility is there, ladies and gentlemen, you know,
• 30:16
  less than six months ago, we're down 45%.
• 30:19
  If that's not a volatile asset, I don't know what is, right?
• 30:23
  And volatility is life like if there's volatility like that to
• 30:27
  the downside, there's volatility like that to the upside, right?
• 30:31
  So yes, very bullish news with Bernstein and with Michael
• 30:36
  Saylor accumulating all of the supply and all of that stuff.
• 30:39
  But you know what? From my perspective, the four
• 30:43
  year cycle is intact. It's real.
• 30:46
  Until I see otherwise, until I see evidence that the four year
• 30:51
  cycle is broken, I'm believing in the four year cycle because
• 30:55
  that's the only thing that has held up.
• 30:57
  Dude, it timed it to the T. It timed the top to the T.
• 31:01
  If you would have just followed the four year cycle theory, you
• 31:04
  would have sold a little bit at the top.
• 31:06
  Don't recommend trading Bitcoin, by the way.
• 31:08
  Should have totally done. That, but my friend told me to
• 31:10
  sold a little bit at the top and then you would have been able to
• 31:13
  buy a little bit more at the bottom or, or, or or at a 45%
• 31:18
  discount. So yeah.
• 31:19
  I would have been. I would have buy twice as much.
• 31:21
  Very, very bullish news. Very bullish news, 100%, no, no
• 31:26
  doubt in my mind, ladies and gentlemen.
• 31:28
  However, however, the four year cycle is intact until it's not.
• 31:33
  Yeah, no, but I I think you're making a good point though.
• 31:36
  And I know the chat's going to totally miss this because
• 31:39
  they're just like Nico's a bear again.
• 31:42
  But I think the point that most people might miss, and it's
• 31:47
  popping in my head right now is like, if Nico's correct and we
• 31:54
  do see another capitulation action right now is most likely.
• 31:59
  And, you know, maybe I'll eat these words and maybe I'll look
• 32:02
  back in three months. And I was wrong about this.
• 32:05
  And this was like the absolute bottom.
• 32:07
  But it's probably not the time to smash by with your entire
• 32:13
  capital that you have right now. Right now is probably the time
• 32:15
  to continue to just like DCA it out it.
• 32:18
  Never it never. Well, I I capitulate my Fiat
• 32:20
  whenever I get it, so I'm a little different.
• 32:22
  Look, I I literally do that. That's all I do.
• 32:25
  The best strategy The best strategy, no pun intended, that
• 32:31
  has stood the test of time when it comes to growing your wealth
• 32:39
  with Bitcoin. The best strategy, it has not
• 32:42
  failed, ladies and gentlemen, it has not failed is this Buy a
• 32:48
  little bit everyday, make sure you have more Bitcoin today than
• 32:52
  the day before and go about your life.
• 32:56
  Focus on increasing your Fiat income so that you could put it
• 33:01
  into Bitcoin. But timing the tops and timing
• 33:05
  the bottoms, ladies and gentlemen, it is literally
• 33:10
  impossible. You can, you can kind of get an
• 33:13
  idea of, OK, we're near somewhat of a bottom.
• 33:16
  You can kind of definitely get that because like you know, if
• 33:19
  the assets down like 50, sixty, 70%, you're like OK, alright
• 33:23
  bro, like can't really go lower. Sometimes it does.
• 33:27
  So like maybe there you get a little bit more aggressive in
• 33:29
  terms of your dollar cost average strategy, but the time
• 33:33
  tested method is dollar cost average averaging Bitcoin.
• 33:38
  You do that over a long period of time, you're going to end up
• 33:42
  looking like a genius. It just takes patience.
• 33:45
  It just takes time, right? And the rule of thumb that I
• 33:48
  tell everybody is it takes four years in Bitcoin to realize that
• 33:53
  you made a good made you realized you made a good
• 33:56
  decision. I don't know.
• 33:57
  We're at it takes four years to just round trip.
• 34:01
  Takes four years. No, it applies to what?
• 34:04
  You're saying I'm trying, I'm trying.
• 34:06
  To no, let's bring up, let's bring up, let's bring up what
• 34:09
  Opti, let's bring up what Opti's saying.
• 34:10
  Let's bring up what Opti's saying, right.
• 34:12
  So what he's saying that is because, like, look exactly.
• 34:15
  Four years, 2021 highs. Four years ago we were at 2021
• 34:19
  highs. But here's the thing.
• 34:21
  Yeah, you'd be good for the next year.
• 34:26
  You would have bought Bitcoin AT16K.
• 34:28
  If you would have kept buying, you would have bought Bitcoin
• 34:30
  AT30K at 40K, at 50K, at 60 K, you would have averaged out your
• 34:36
  entry, right? This is why DCA ING is so
• 34:39
  important. So the rule of thumb is this.
• 34:41
  It takes four years to realize that you made a good decision in
• 34:46
  Bitcoin, and it takes eight years to realize that.
• 34:51
  It takes eight years to realize that, that no, to feel that
• 34:56
  you're relatively, you're relatively wealthier than the
• 35:01
  people around you because you've migrated to a Bitcoin standard.
• 35:04
  So it takes a takes a long amount of time.
• 35:07
  Like it's not something that happens overnight.
• 35:10
  And you know, we kind of live in and This is why people, so many
• 35:12
  people gravitate to altcoins because altcoins give that false
• 35:16
  promise of like getting rich overnight, like that lottery
• 35:19
  ticket type of feeling, right? But with Bitcoin, you don't it
• 35:23
  it's, it's not a lottery ticket, so to speak, that OK, the next
• 35:27
  day you're going to be like a multi millionaire.
• 35:30
  But it is a lottery ticket in terms of if you have the
• 35:34
  discipline and the low time preference and the patience, I
• 35:38
  guarantee you, it's guaranteed a very strong word that you're
• 35:41
  going to be in a much better place, you know, in the future
• 35:46
  than where you are now. That's a very strong thing to
• 35:49
  say. But I stick by it, you know, and
• 35:52
  this is the, the I've been living what I've been preaching
• 35:55
  for the last decade or so, right.
• 35:58
  So anyways, to, to weave back in the original argument, then
• 36:01
  we're going to bring on a guest. We got our boy Q in the wings
• 36:06
  regarding, you know, Bernstein and and sailor and buying all
• 36:09
  this Bitcoin. It's like, yeah, they're buying
• 36:11
  all this Bitcoin. Perhaps we're not seeing a
• 36:14
  capitulation because of the amount of Bitcoin that they're
• 36:16
  buying. However, from my perspective
• 36:18
  guys, the four year cycle is playing out exactly like it's
• 36:22
  played out every other time That's.
• 36:24
  Well, not exactly. That's the more.
• 36:25
  Timing. One dude.
• 36:26
  Exactly like every other time. A little timing is the only
• 36:31
  thing. I'll do yourself on queue.
• 36:33
  Hey dude, we're not bringing queue on anyways.
• 36:38
  So I gotta I gotta give a shout out to the live stream.
• 36:41
  We got thousands of we got over 1000 people watching live across
• 36:44
  X YouTube rumble. If you guys are enjoying the
• 36:46
  show so far, make sure to smash that like button.
• 36:50
  You're listening to simply Bitcoin live, the most watched
• 36:52
  Bitcoin live show on planet earth right now.
• 36:54
  It feels really good to say that.
• 36:56
  It's kind of a trip. Smash that like button.
• 36:59
  Consider subscribing. We're going to be right back
• 37:01
  after the break. We got our boy Q in the wings.
• 37:04
  We got tons to talk about. We'll be right back.
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  off. Q What's up, dude?
• 39:40
  Good to see you. How are you my friend?
• 39:42
  Nico, it's such a pleasure to get to see you man.
• 39:45
  Thank you for having me. Dude pleasures.
• 39:47
  I mean the honors. All ours man, and I haven't seen
• 39:50
  you in forever. Good to see you.
• 39:51
  Good vibes like always. Optics here in the wings.
• 39:55
  It's going to be a great show, ladies and gentlemen.
• 39:57
  Anyways, huge announcement. Q has officially joined our
• 40:01
  friends over at Bitcoin. Well.
• 40:07
  Best place to buy yourself some real Bitcoin anyways guys?
• 40:11
  At the time of recording the Bitcoin price is $71,100.
• 40:14
  That's per dollar 1406 Block height 942,180 Realized monetary
• 40:20
  inflation .834 percent .83% market cap 1.42 trillion Bitcoin
• 40:26
  versus gold market cap 4.75 percentage issued 95.27 and
• 40:32
  declined from all time high. If you're buying Bitcoin right
• 40:33
  now, you're getting it at a 43% discount.
• 40:37
  Anyways, I saw this thread by Willy Woo Willy Woo and he had
• 40:44
  some interesting things to say. So he's talking about the
• 40:48
  previous previous cycle, why we didn't have a euphoric top.
• 40:53
  He's blaming a lot of it on crypto and anyways, and then we
• 40:57
  got we we did get some notable figures in the industry
• 41:01
  commenting on this, this this this post seemed to have
• 41:04
  performed very well, Willy Woo says.
• 41:06
  I'm seeing crypto folk falling into the what is that TRO throw?
• 41:13
  Trope. Trope.
• 41:15
  I think it says trough. Trough.
• 41:17
  Into the trough of this thing. Dude.
• 41:19
  You guys can't speak English? How do I do?
• 41:22
  I didn't get here by knowing how to read.
• 41:26
  We know. Opti is the one correcting us.
• 41:29
  We're all screened. Yeah, we're cooked.
• 41:32
  Anyways, how do you say it again?
• 41:35
  Dude it's through and I can barely read that right now.
• 41:38
  Falling into the through of. Despair folk falling into the
• 41:42
  through of despair after an abysmal bull market with mainly
• 41:46
  losers and BTC outperforming their beta.
• 41:49
  Let me tell you a story that tells you why you got screwed.
• 41:52
  It starts with the end of FTX. When the bankruptcy folk came in
• 41:56
  to liquidate FTF assets, their mandate was to sell everything.
• 42:00
  This included vast quantities of locked Solana.
• 42:04
  They inadvertently invented something new, selling an asset
• 42:08
  that was locked up on chain through the magic of legal sale
• 42:11
  agreement. Pay me now, I deliver.
• 42:13
  Later the deal got passed around the ecosystem.
• 42:17
  Fund managers bought up the lock sole at more than a 60% discount
• 42:22
  to compensate for being locked up and exposed to the token
• 42:25
  price. Many hedge funds bought the
• 42:27
  deal. They knew they could hedge the
• 42:29
  token price on future markets by shorting Seoul pocketing 70 to
• 42:33
  80% yields at near 0 risk. They liked it and asked where
• 42:38
  can we get more of this? Herein lies your problem as a
• 42:41
  crypto investor in 2023 to 2025. Every crypto project has backers
• 42:48
  and a foundation who has great wads locked tokens that have
• 42:52
  been sold to hedge funds and dumped on you immediately
• 42:55
  through future markets. All your alpha went to market
• 42:58
  neutral hedge funds pocketing risk free yield.
• 43:01
  This is why crypto in 2023 and 2025 underperformed.
• 43:06
  You got dumped on prematurely. On the bright side, many of
• 43:10
  these projects, even though they have quote locked up tokens
• 43:13
  ready to dump on paper, in reality they have been sold
• 43:17
  already so they will logically perform without the expected
• 43:20
  sell pressure in the next bull market given they have been
• 43:24
  effectively sold already. Not that I recommend buying
• 43:27
  crypto. You need to be an insider to get
• 43:29
  an edge. It works like a casino.
• 43:31
  The house will take your money. The house in 2023 to 2025 where
• 43:36
  the people who understood this trade just buy BTC and get on
• 43:40
  with your life. Simon Dixon responded.
• 43:43
  The financial industrial complex love of the FTX Chapter 11.
• 43:47
  I followed every stage of it and what I saw was clear.
• 43:51
  Chapter 11 is another wealth transfer to a small club within
• 43:55
  the FIC, one that profits while lawyers drain the creditors.
• 43:59
  I spent two years inside one of these processes as a major
• 44:03
  creditor, obsessing over every detail and learning first hand
• 44:07
  just how rigged the system could be.
• 44:09
  For me, it was an education. I could afford the loss, but I
• 44:13
  met creditors who lost everything.
• 44:15
  The retirement, their homes, even their countries.
• 44:18
  What does that say? Countries.
• 44:23
  Oh, man, that says countries. Yeah.
• 44:27
  Dude, dude was buchele on FTX. I I, I can't read.
• 44:31
  I can't, I, I can't read. I can't read countries.
• 44:35
  I'm just like, holy shit, there's a creditor who lost
• 44:38
  their country. How do you lose a country?
• 44:40
  And what country is that? I don't know.
• 44:42
  I don't know, Like, what country is that?
• 44:45
  No, bro, Bhutan's thriving. They're the happiest country on
• 44:47
  earth. That's the only country that I
• 44:49
  know was caught up in. I don't know what not.
• 44:52
  Though though the Celsius debacle, Yeah, you're talking.
• 44:54
  About it's the same debacle. Some didn't make it through.
• 44:57
  Oh my God, I can't say that on YouTube.
• 44:59
  That's when it became clear how Chapter 11 is treated as
• 45:03
  opportunities to scoop scoop up assets from the most vulnerable.
• 45:07
  Don't put humans or corporate rappers between you and your
• 45:10
  Bitcoin in self custody. Just buy BTC and get on with
• 45:14
  your life. Then someone responded.
• 45:16
  I don't know why everyone's laughing.
• 45:18
  'Cause you can't read bro. The chat is kind of roasting you
• 45:23
  right now. It's all good.
• 45:24
  They roast me every time, right? They come for my takes, not for
• 45:27
  my ability to read. I guess anyway.
• 45:30
  I mean, it's kind of kind of the same thing, but keep going.
• 45:34
  BTCOGS dumped billions is another person commenting.
• 45:38
  BTCOGS dumped billions if not 10s of billions on our heads in
• 45:42
  2025 too. Willie Wu responded yes, and we
• 45:45
  know that because it was visible, not done.
• 45:47
  Insider deals away from public scrutiny.
• 45:50
  It still outperformed crypto. Someone else said why didn't you
• 45:54
  post this while it was happening back then?
• 45:56
  Willie Wu responded, I've posted for years while crypto's a
• 45:59
  casino. I mainly post on BTC as that's
• 46:01
  my focus. I'm not here to warn crypto
• 46:04
  investors anymore. Nobody listens to ABTC maxi on
• 46:07
  crypto. You guys know the game you play.
• 46:10
  Mike Alfred responds everything is fine.
• 46:13
  The four year bear market is ending now, so are you on the?
• 46:17
  Side of Mike Alfred. Are you on the side of Mike
• 46:20
  Alfred? So anyways, I kind of want to
• 46:22
  open it up for conversation. Willy Woo has some, definitely
• 46:26
  has some good takes. Q.
• 46:28
  What do you think about this bro?
• 46:30
  I mean, I never thought the four year cycle was dead.
• 46:33
  I'm going to take my victory lap right now.
• 46:35
  I was on plenty of podcasts for people like it's over. 4 year
• 46:38
  cycle is dead. Yeah, Opti, I see you.
• 46:40
  No Opti I see you. Oh my God, we got an all time
• 46:43
  high before the happening. This is crazy.
• 46:46
  It's broken off. No, no, everything is still well
• 46:50
  within the boundary constraints of what a four year cycle looks
• 46:53
  like. The truth is as like the tea
• 46:55
  leaf reader guy here who loves TA and all that shit.
• 47:00
  The truth is though, everything that has happened to cause the
• 47:02
  market downturn right now or even 4 years ago or even 8 years
• 47:06
  ago, there was something externally that was happening
• 47:10
  that drove market prices lower. And while we want to try to find
• 47:14
  an explanation on, oh, we, we reached resistance AT125K and we
• 47:20
  rejected it and we went lower. It's like, sure, yeah.
• 47:22
  And then we also started dropping bombs on the Middle
• 47:24
  East. And we're also getting reports
• 47:26
  that people were options trading the, all the Bitcoin ETFs that
• 47:30
  was driving demand lower. All of a sudden you're seeing
• 47:33
  the net effect of outside impact that dictates and determines
• 47:37
  what actually happens within the context to price action, which
• 47:40
  is textbook If anyone is not familiar with how stocks trade
• 47:45
  and how traders report previously.
• 47:48
  Oh, we reach resistance, which coincides with the moment where
• 47:51
  they announced their drug didn't get approval and then the stock
• 47:54
  cratered down. That is what happens with price
• 47:57
  action in the stock market. That is what's happening in the
• 47:59
  price action here in the Bitcoin market as well.
• 48:01
  And it's it has been happening for the last 13 years and it's
• 48:04
  going to keep happening in that way for the foreseeable future
• 48:07
  until we finally decouple and have real education for those
• 48:12
  who move markets, IE the big money out of New York and
• 48:15
  elsewhere. Until they really understand
• 48:17
  what Bitcoin can be, we're just going to be at the mercy of
• 48:22
  whatever happens news wise. It's a tough pill to swallow,
• 48:25
  but that's just my take. Amen.
• 48:27
  I think it's a great take. It's a great take.
• 48:29
  Me too. Appreciate the 21 sats on on
• 48:32
  Noster. Great take from QC Opti.
• 48:36
  We got 2 four year cycle believers.
• 48:39
  You guys could beat on me. I'll, I'll, I'll take the
• 48:40
  meetings today. It's all right.
• 48:41
  It's all right. You.
• 48:42
  Know OK, Opti Opti, hear me out on this 'cause I, I think Willie
• 48:46
  has some truth to what he's saying, but I think there's
• 48:48
  something that I want it, says Arthur Hayes.
• 48:53
  I need Arthur Hayes to like be put on a hot mic Underoath and
• 48:57
  talk to us about this because I have a theory that we can't
• 49:00
  there's no way to really confirm this unless Bitmex actually
• 49:04
  publicly comes out and says, hey, this is the case and this
• 49:08
  is what happened. I firmly believe that all of
• 49:12
  these sort of leveraged long positions that we saw especially
• 49:16
  in the bull run last cycle, they were in a situation where oh, I
• 49:21
  have 100X or 10X leveraged position.
• 49:24
  Well, if Bitcoin reach anywhere from like 75 K to 85 K, the
• 49:29
  payout for those positions would have resulted in more than 21
• 49:34
  million Bitcoin having to be paid out.
• 49:37
  There's no way to pay that out. And so Bitmex is taking the
• 49:40
  opposite side of the trade. That's why you have people like
• 49:42
  Dylan Leclair going on and saying, look, you are literally
• 49:45
  getting paid money to take the short position on Bitcoin at
• 49:49
  some of these institutions because they needed you to take
• 49:52
  that position to essentially create cell pressure.
• 49:56
  So I think that the 69 K peak from last cycle was artificially
• 50:01
  suppressed. Let's say it was supposed to
• 50:03
  reach 100K last cycle. Let's say it was supposed to
• 50:06
  reach 90K last cycle. By those levels of highs from
• 50:10
  the last cycle, we didn't make a new all time high before the
• 50:12
  happening. Everything still operates as it
• 50:15
  should under the eyes of your four year cycle.
• 50:19
  No, yeah, I, I that's, that's a good, pretty good take there.
• 50:23
  I I. Mean, bro, look, what did I tell
• 50:25
  you about there being more? They're being more Bitcoin.
• 50:30
  Yeah, OK. Sorry, wrong one.
• 50:32
  Yeah, there's 42,000,000 Bitcoin guys.
• 50:33
  There's 42,000,000 Bitcoin, but the moment that's.
• 50:37
  Just simply Litecoin. The moment, the moment the
• 50:41
  market sniffs that out, I think we're going to see the greatest
• 50:45
  bank run or exchange run. I don't even know what the term
• 50:49
  is here. I think you know the industry
• 50:51
  has ever seen who needs sailor. We got Nico.
• 50:56
  No other asset has a limited so the the the chat's going wild
• 50:59
  today, isn't it? Anyways, guys, it's going to be
• 51:01
  a fantastic show. We got Q from Bitcoin.
• 51:04
  Well, joining us today, we're going to be talking about all
• 51:06
  things Bitcoin. Well, we're going to be giving
• 51:07
  away some sats towards the end of the show.
• 51:11
  So you guys are going to want to stay tuned in for that.
• 51:13
  Before we do that, we do want to get into the news segment for
• 51:17
  all the the Tether truthers. Tether is getting a huge,
• 51:24
  massive audit from notable, very reputable accounting firms, but
• 51:30
  there's entire people that have billed massive followings, you
• 51:35
  know, trying to expose Tether in this conspiracy.
• 51:39
  And they just got a lot of pie on their face yesterday.
• 51:42
  And they must be seething right now because major, major
• 51:46
  announcement that that the the Tether team made yesterday.
• 51:50
  Congratulations to them. So I'm going to break that news
• 51:53
  during the news segment. Also some news coming out of the
• 51:55
  Fed, which I found quite interesting.
• 51:57
  We'll see if we can get to that. And then again, we're going to
• 52:00
  be talking about all things Bitcoin.
• 52:01
  Well, again, the only self custody by default Bitcoin point
• 52:04
  on ramp in the United States of America, it is self custody by
• 52:09
  default. And of course we got our boy Q
• 52:11
  here to talk about that. So anyways, guys, we're going to
• 52:13
  be right back just after the break.
• 52:17
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  simply so this specifically for the tether truthers talk about
• 55:40
  wrecked tether signs engagement with four with a BIG4 firm for
• 55:47
  its four Humpty. I can't do this if you're just
• 55:51
  laughing. I'm.
• 55:52
  Sorry dude, I was laughing at the chat but you know, be
• 55:55
  self-conscious over there. Don't mess with myself on board,
• 56:00
  that's rude. Tether signs engagement with a
• 56:02
  BIG4 firm for its full first full, full.
• 56:07
  Bro, how can I not laugh at you? And you can't even read normal
• 56:10
  words. These are these are literally
• 56:14
  bro. These are these are single
• 56:17
  syllable words. Let's try For the third time,
• 56:19
  Tether signs engagement with a BIG4 firm for its first full
• 56:24
  audit. We got it right that time and oh
• 56:31
  man, you guys are so proud of you Nico.
• 56:33
  Thank you guys, I appreciate it. Anyways, here's yellow making a
• 56:37
  joke of it says them they have no assets users.
• 56:41
  They've been redeeming my USDT for USD with no problem for
• 56:44
  years. Them they haven't been audited
• 56:47
  users they've they handled the biggest run during the pandemic
• 56:51
  crash with no problem Them yeah but why don't they audit tether
• 56:55
  here and audit from the BIG4 them and trigger absolutely
• 57:00
  hilarious Jack Mahler's comments the GOAT Samson Mao historic
• 57:06
  another reason why it's so huge why it's so huge is that tether
• 57:10
  operates on such a massive scale.
• 57:12
  I was sure one of the smaller stablecoins would try to get it
• 57:15
  first, but I guess their priorities are elsewhere.
• 57:18
  Well done, tethered team. Eric Yates says audited Tether
• 57:21
  is final form evolution. Mauricio from Lenin says
• 57:25
  congratulations, Baolo and team. So yeah, I mean, there's a like
• 57:32
  there. There's like literally an
• 57:33
  account that has me blocked. It's called what is it?
• 57:37
  What's the account is it? Bitfinex.
• 57:39
  Bitfinex or something? I think it's Bitfinex.
• 57:42
  But it's like spelled interesting.
• 57:44
  Yeah, I think that's the one. I think that's the the tethered
• 57:47
  truth. So so he.
• 57:48
  Built basically this entire audience right?
• 57:52
  Basically on trying to expose Tether.
• 57:54
  He spent at least a decade of his life by now trying to do
• 57:58
  this. And here you go, I mean.
• 58:02
  I found. It.
• 58:04
  Yeah, yeah, that's the one, Bitfinex.
• 58:06
  With the D, So yeah, I mean, it not a good day to be a tether
• 58:11
  truther pie on your face, you know?
• 58:14
  And yeah, again, big fan of tether for me personally.
• 58:18
  And obviously it's because, you know, again, if you're from the
• 58:21
  Global South, it's giving you access to digital dollars, which
• 58:25
  is fantastic, right? And it gives you the ability to,
• 58:29
  you know, interact with the global economy, which is great.
• 58:31
  And I also see it as a Trojan horse or as a stepping stone
• 58:36
  towards Bitcoin. So bad day to be a tethered
• 58:39
  truther. Anyways, also some news breaking
• 58:43
  by our friends over at Bitcoin Magazine.
• 58:45
  The headline is five ways the Fed's Basil 3 pivot unlocks
• 58:50
  institutional Bitcoin custody. Here's some of the the bullet
• 58:55
  points. So the Fed is moving to remove
• 58:58
  major barriers for banks to offer Bitcoin services.
• 59:01
  What were the three things that Michael said Michael Saylor said
• 59:04
  that Bitcoin needed to do for it to hit $5,000,000 per coin?
• 59:08
  Number one was the the approval of the spot Bitcoin ETF.
• 59:11
  Number 2 was a change of the fasby accounting rules and #3
• 59:15
  was the ability for banks to custody Bitcoin.
• 59:18
  So you had Kraken finally approved, it has a Fed banking
• 59:25
  charter, so it's allowed to operate with the rest of the of,
• 59:30
  of, you know, the Fed system. So Kraken obviously is a bit is,
• 59:33
  is a crypto on ramp, so to speak.
• 59:36
  So that that's a major win. I don't think that would have
• 59:38
  happened with the Democrat administration.
• 59:41
  And then obviously Citibank making that major announcement
• 59:44
  at the Bitcoin for corporations where they're, they basically
• 59:48
  went on stage, Citibank went on stage and said, hey, listen,
• 59:50
  we're going to allow, we're going to give our, our clients
• 59:53
  the ability to custody Bitcoin the next the next bit is Bitcoin
• 59:57
  no longer treated as a toxic asset on bank balance sheets.
• 1:00:02
  Older rules force banks to hold 100% capital against Bitcoin
• 1:00:07
  exposure. New framework replaces that with
• 1:00:10
  standard risk based treatment. Massive win for Bitcoin custody.
• 1:00:14
  Big banks can now offer custody without excess capital
• 1:00:17
  penalties. Likely leads to cheaper
• 1:00:20
  institutional grade Bitcoin custody.
• 1:00:23
  Banks getting 4.8% capital relief.
• 1:00:26
  Frees up balance sheets to expand into Bitcoin and digital
• 1:00:29
  asset services. More banks entering equals more
• 1:00:32
  competition plus lower fees. Standardized rules across the
• 1:00:36
  system. Remo removes inconsistent
• 1:00:38
  treatment between banks. Makes it easier for corporations
• 1:00:42
  to allocate to Bitcoin. the Fed is signaling a shift.
• 1:00:45
  Bring Bitcoin activity back into regulated banks.
• 1:00:48
  Reverse this is the trend of activity of activity moving to
• 1:00:52
  non bank players. Bottom line is this this unlocks
• 1:00:56
  Wall Street access to Bitcoin infrastructure quiet but a major
• 1:01:00
  step forward for full institutional adoption.
• 1:01:04
  So this is a big piece of news that broke that I saw absolutely
• 1:01:08
  no Bitcoin content creator talk about, but it's massive.
• 1:01:13
  And again, it's massive in regards to Bitcoin being
• 1:01:17
  integrated with the traditional financial system, which was one
• 1:01:20
  of Elizabeth Warren's worst nightmares because that camp
• 1:01:25
  wants central bank digital currencies.
• 1:01:27
  I think if you have a choice between a CBDC and something
• 1:01:31
  like Bitcoin, I think you're naturally going to choose
• 1:01:34
  Bitcoin. However, I said all of this, but
• 1:01:37
  I do want to say a word of caution.
• 1:01:40
  The word of caution is this the revolution is individuals taking
• 1:01:45
  Bitcoin into self custody. It's not banks custodying
• 1:01:48
  Bitcoin. So this might be positive for
• 1:01:51
  number go up, but you have to remember why we're here, right?
• 1:01:55
  You have to we can only fix the money, fix the world if
• 1:01:58
  individuals are taking custody of their keys, right?
• 1:02:02
  That's the only way to really change the the system of
• 1:02:05
  individuals reclaiming back their financial sovereignty by
• 1:02:08
  taking self custody of their Bitcoin.
• 1:02:10
  So big breaking news, Tether truthers absolutely wrecked and
• 1:02:16
  the Fed big, you know, kind of changing their stance on Bitcoin
• 1:02:20
  a little bit, which I think is a good thing.
• 1:02:22
  And again, all of this, you know, elections do have
• 1:02:26
  consequences. You know, I'll, I'll leave it at
• 1:02:28
  that. Anyways.
• 1:02:29
  Q. What's your take on all this, my
• 1:02:30
  friend? I think these two stories are
• 1:02:33
  actually more related than we realize.
• 1:02:36
  One of the big things that happened over the course of the
• 1:02:38
  last 12 months is we saw the Genius Act and other forms of
• 1:02:42
  crypto legislation coming out of this administration with like
• 1:02:46
  the quiet part being said out loud that I have been surprised
• 1:02:49
  that no one really globbed onto this.
• 1:02:51
  But it's like a core memory for me now listening to David Sachs
• 1:02:56
  essentially admit and say that the small banking institutions
• 1:03:00
  tried to block the Genius Act simply because they were afraid
• 1:03:04
  that stable coin assures would be able to outcompete them in
• 1:03:07
  the marketplace, offering higher, higher interest rates,
• 1:03:11
  higher returns on deposits versus what these smaller local
• 1:03:15
  banks can offer. So they sort of put a memorandum
• 1:03:18
  and a cap on if you're going to be a stablecoin issuer and come
• 1:03:22
  to the United States, you cannot offer interest payments to any
• 1:03:26
  deposits being put into your platform to allow these banking
• 1:03:30
  institutions to have time to catch up.
• 1:03:32
  So that is what this Fed, that is a part of what we're seeing
• 1:03:37
  Tether do is they're trying to sort of button up, get
• 1:03:39
  everything in order so that they can launch Tether US and become
• 1:03:43
  the largest stable coin issuer here stateside as fast as
• 1:03:46
  possible. At the same time, we're seeing
• 1:03:48
  the Fed try to do everything possible to make banks have an
• 1:03:52
  easier time onboarding Bitcoin, stablecoins, whatever they think
• 1:03:56
  they need to do to stay competitive in a rapidly
• 1:04:00
  changing environment. And in an industry that,
• 1:04:02
  honestly, the last time it was changed, it was forced to change
• 1:04:05
  after the 2008 financial crisis. Before that, it wasn't changing
• 1:04:09
  for anything or anyone. Not since Nixon took us off the
• 1:04:11
  gold standard in 71. I mean, I, I, I love Qi, love Q
• 1:04:17
  God damn. It's almost as if he hosted a
• 1:04:20
  show before. Yeah, it's almost like he had a
• 1:04:21
  show before. It's almost as if he has
• 1:04:23
  experience doing this. OBTI your take?
• 1:04:27
  No, I mean, I, I think Q absolutely nailed it.
• 1:04:31
  It's totally, totally related. Maybe you you don't see that
• 1:04:35
  because it's like, you know, Tether and then the Fed.
• 1:04:38
  But what did what was interesting about this Bayes
• 1:04:41
  Oval three proposal is that they didn't actually change anything
• 1:04:46
  after they did this meeting. But it's kind of what Nico
• 1:04:50
  always says, you know, the Overton window and the fact that
• 1:04:53
  they're having these conversations and the fact that
• 1:04:55
  they're even considering treating Bitcoin less like a
• 1:04:59
  toxic asset just shows that they are maybe very slowly, but
• 1:05:04
  realizing no matter what they do, they're going to have to
• 1:05:07
  compete with where we currently are in the world.
• 1:05:10
  And to the Tether truthers out there, I mean, Nico, you, you've
• 1:05:13
  gotten some heat in the past for being such a big fan of Tether.
• 1:05:18
  Let me, let me, let me, let me but hold on.
• 1:05:22
  But dude, Tether tethers are boys, dude.
• 1:05:26
  Like they're they're Bitcoiners, they're in the industry, they're
• 1:05:30
  doing really good stuff for Bitcoin in every corner of
• 1:05:33
  Bitcoin. And like the bit Fenix guys used
• 1:05:36
  to say or guy and all the other Tether truthers, like if there
• 1:05:39
  really was a problem with Tether, like that would be
• 1:05:42
  really bad for all of us. So I am super happy to hear this
• 1:05:45
  news. Shouts out to the audit.
• 1:05:47
  Yeah, shout out to the side of the team.
• 1:05:49
  I think they've crushed it. And again, I think they, I, I
• 1:05:53
  had the, the, the honor of being able to interview Balo and I,
• 1:05:56
  and I remember asking the first question that I asked him was
• 1:05:58
  like, dude, like, how did you build the most profitable
• 1:06:01
  company on the face of the planet?
• 1:06:02
  And he was like, he was so humble about it.
• 1:06:04
  He was like, by pure luck, right?
• 1:06:06
  So like essentially they created something that the world needed
• 1:06:11
  that it didn't know it needed. Because I think the original
• 1:06:13
  thesis and the theory behind Bitcoin was like in countries
• 1:06:18
  that had double digit inflation, you would have massive Bitcoin
• 1:06:22
  adoption. You had some Bitcoin adoption.
• 1:06:25
  But what people fail to realize is that most people don't have
• 1:06:28
  disposable income and they're living paycheck to paycheck.
• 1:06:31
  And Bitcoin with its volatility actually isn't all that great
• 1:06:36
  with, you know, it's volatility, right?
• 1:06:39
  So this is where, you know, digital dollars, AKA Tether
• 1:06:42
  comes in and it serves the market, right?
• 1:06:45
  It, it, it fulfills the market. And again, as a Venezuelan, you
• 1:06:49
  just hear how much Tether is being used in Venezuela as
• 1:06:53
  people seek an alternative to the local Bolivar, which which
• 1:06:57
  again, the, the inflation rate is not that great, right?
• 1:07:00
  And you don't have to deal with the capital controls.
• 1:07:02
  You don't have to deal with the censorship, the political
• 1:07:05
  situation. You don't have to deal with any
• 1:07:06
  of that, right. You have access to digital
• 1:07:09
  dollars, which I think is a net positive.
• 1:07:11
  And again, I think all roads lead to Bitcoin.
• 1:07:14
  I think this gets it gets people exposed to a it gets people
• 1:07:20
  exposed to digital assets, a wallet.
• 1:07:25
  And then eventually again, they're going to come to the
• 1:07:28
  realization that the all of us have the all Bitcoiners have
• 1:07:30
  come to, which is again, you know, it still has inflation,
• 1:07:36
  right? And this is the only Bitcoin's
• 1:07:38
  really the only thing that fixes this, right?
• 1:07:40
  So anyways, wait, wait, wait. Can I add another little wrinkle
• 1:07:42
  in here on this news about the full Tether audit?
• 1:07:48
  The the morning this happened, we saw Circle USDC, which is
• 1:07:52
  Coinbase's stablecoin drop like 18 or 20%.
• 1:07:56
  So on another note, not only is Tether fully backed and audited,
• 1:08:02
  but I think they're I think they're kind of hurting
• 1:08:04
  Coinbase. So it's kind of a double whammy
• 1:08:06
  here when we know that the clarity Act is being presumably
• 1:08:10
  held up. It I, and I don't even know if
• 1:08:11
  it's necessarily good, but was being held up over the stable
• 1:08:15
  coin yield because it did look like Brian Armstrong was trying
• 1:08:17
  to protect his Moat with circle and it looks like Tether's just
• 1:08:21
  eating his lunch. So, you know, Tether team just
• 1:08:23
  doing two things. Here I mean.
• 1:08:25
  I, you know, stepping on Coinbase's toes, I'm, I'm kind
• 1:08:28
  of happy this happened. Yeah, winning all around.
• 1:08:30
  Winning all around. Anyways, guys, we're going to
• 1:08:33
  get to the culture and we're going to talk to Hugh about
• 1:08:35
  Bitcoin. Well, the best place to build
• 1:08:37
  your automatic self custody Bitcoin stock.
• 1:08:39
  We're going to be right back after the break.
• 1:08:41
  Ladies and gentlemen, I want to give a shout out to our partner
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  Hive Digital Technologies. Fueled by clean energy, Hive has
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• 1:09:01
  performance. At Hive, you've got dual
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  on sustainable digital infrastructure.
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  You can catch the latest buzz at Hive Digital Tech or at Hive
• 1:09:20
  digitaltech.com. All right, everybody, we got Q
• 1:09:27
  from Bitcoin. Well, we're going to be giving
• 1:09:29
  away some sats in a little bit with the Bitcoin Wishing Well
• 1:09:32
  contest. Q Welcome to the show, my
• 1:09:35
  friends. And bro, I haven't haven't had a
• 1:09:39
  chance to like, I think we talked on the phone, but we
• 1:09:41
  haven't had a chance to, you know, just just bick around,
• 1:09:44
  chat, be on a show together. I think it's been years at this
• 1:09:48
  point. So you've been, you've been
• 1:09:50
  greatly missed, man. No, it's it's been far too long
• 1:09:53
  and puts a smile on my face getting to see your pretty face.
• 1:09:57
  Yeah, yeah, Qi dude, Not yours, not.
• 1:09:58
  Yours. I know I, I wasn't going to talk
• 1:10:00
  about my face. It wasn't about my face.
• 1:10:02
  It was more, more on the side of we've been missing funny people
• 1:10:07
  in Bitcoin for a while. And I've been trying to hold it
• 1:10:09
  down. And you know, I, I have to, I
• 1:10:12
  have to keep a leash on over here because Nikos thinks I say
• 1:10:15
  too much crazy stuff. And you instantly come on and
• 1:10:17
  we're just like, people are like, what the hell am I
• 1:10:19
  watching? Like, but they're just literally
• 1:10:21
  shooting the shit, just having fun.
• 1:10:22
  So it's good to have you back bro.
• 1:10:25
  Dude, that's what it's meant to be.
• 1:10:26
  We're just three Bros hanging out.
• 1:10:29
  And everyone forgets row #1. If you're not having fun, why
• 1:10:32
  are you doing this? Exactly.
• 1:10:33
  Particularly this guy, actually. Man, we we all know you could
• 1:10:40
  stand to have a little bit less fun.
• 1:10:42
  That's true. That is true.
• 1:10:47
  Oh man, thank you Qi. Appreciate it.
• 1:10:50
  I appreciate all these. Turnings rushing me.
• 1:10:53
  All right, we're roasting him. So while we.
• 1:10:56
  So while we were prepping the show this morning, you know,
• 1:11:00
  which usually starts around like 10 AM, 1030.
• 1:11:02
  AM dude, don't put me on blast like this.
• 1:11:05
  I got a call. This is why I was a little late.
• 1:11:09
  We were a little late. 5 minutes before we start our usual show,
• 1:11:12
  20 minutes, OK, whatever. And I'm like, why is Opti not at
• 1:11:18
  the studio? What the hell is going on?
• 1:11:20
  And I got a call. He's like, yo Nico, I, I locked
• 1:11:23
  my keys inside my car, I'm going to be running late.
• 1:11:27
  And I'm like, wait bro, what do you mean?
• 1:11:29
  He's like, no, no, don't worry, I'm calling a mechanic.
• 1:11:31
  No, dude, I was in the meeting, all right?
• 1:11:35
  I was just on my phone. I wasn't in the studio.
• 1:11:37
  But true story, I did lock myself out of my car this
• 1:11:40
  morning. I went to the gym.
• 1:11:41
  I went and grabbed a snack out of my backpack, little protein
• 1:11:45
  snack. And I closed the door.
• 1:11:46
  And as I close it, I'm like no. My keys.
• 1:11:49
  So why you guys are like, oh man, like Opti has to deal with
• 1:11:52
  Nico. I have.
• 1:11:54
  To yeah, maybe if you. Had to deal with me and then and
• 1:11:57
  then also too which opti's opti making flights right?
• 1:12:03
  So all right, let's dude, don't put all my dirty laundry out
• 1:12:06
  here. Opti's missed four flights and
• 1:12:09
  cool and at this. Point well, well, I think it's
• 1:12:13
  2:00 to 3:00. At at this. .1 was my fault, the
• 1:12:18
  other one wasn't. Actually, the other two weren't.
• 1:12:21
  At this point what I do is when I know Opti has a flight, I text
• 1:12:25
  him two hours before the flight. A day before the flight true and
• 1:12:29
  I text him to confirm. And and he has to book my
• 1:12:32
  flights. And I text him to confirm that
• 1:12:35
  he is on the airplane. This is true.
• 1:12:38
  That's a good friend. That's I agree.
• 1:12:40
  I agree. I agree because it's not.
• 1:12:42
  He will miss the flight anyways, we're going to give away some
• 1:12:46
  Bitcoin. Ladies and gentlemen.
• 1:12:47
  This is the Bitcoin wishing well portal.
• 1:12:50
  By the way, the way that you earn these points is you buy
• 1:12:53
  Bitcoin on Bitcoin well and then you earn Bitcoin well points.
• 1:12:57
  And with those Bitcoin well points, you can get a stamp seed
• 1:12:59
  plate with the with the well on the back.
• 1:13:02
  You can get a leather mint wallet.
• 1:13:04
  You can get a Bitcoin nutrition hoodie.
• 1:13:07
  You can get a bid ax solo miner. And then if you earn 69,000,000
• 1:13:12
  points, Adam O'Brien will personally deliver to you an
• 1:13:17
  orange wrapped cyber truck, which I think is super, super
• 1:13:20
  bad ass. So anyways, you could also use
• 1:13:23
  those points towards the Bitcoin wishing Well contest.
• 1:13:26
  It breaks down the odds right here.
• 1:13:28
  So you win every single time and you have a 1 and 10,000 chance
• 1:13:35
  of winning up to 1. So cap 1,000,000 sacks.
• 1:13:38
  We've done, we've done 9000 spins on this show.
• 1:13:42
  Not yet, no. No, we've probably done like a.
• 1:13:44
  Thousand well opti, I can confirm that someone won it a
• 1:13:47
  few weeks. Ago.
• 1:13:47
  Really. Damn.
• 1:13:49
  We specifically, we like see when your account does it and
• 1:13:53
  it's like a skip. It's just like automatically in
• 1:13:58
  the 1920s. So we're gonna we're gonna toss
• 1:14:02
  a coin into the wishing. Well, watch it happen right now
• 1:14:04
  when my Lightning wallet's on out. 210 SAT's first person to
• 1:14:09
  scan the QR code. I'm gonna leave it up until
• 1:14:10
  someone scans it. Do the unclaimed sats 'cause
• 1:14:14
  sometimes they don't scan them? So scan it with your lighting
• 1:14:18
  wallet. I'm going to do it if you could
• 1:14:22
  pull another. Wallet free sats are on the
• 1:14:24
  screen if anyone's watching this and not.
• 1:14:25
  Scan it. Yeah.
• 1:14:26
  Seriously. All right, I'll do it.
• 1:14:27
  I'll do. It wait, someone says you had
• 1:14:29
  9000 rolls scheduled there. We go.
• 1:14:32
  Hold on. Boom.
• 1:14:35
  All right, I'll tell. You, Nico, stole the SAT.
• 1:14:38
  Are you kidding me? That's crazy.
• 1:14:40
  All right, do it again. And guys, get your Lightning
• 1:14:42
  wallets out now before Nico steals the SAT all.
• 1:14:46
  Right now, we're going to do it again.
• 1:14:47
  Asleep at the wheel right now. For the reels, we're.
• 1:14:50
  Locked out. We're doing, we're doing it
• 1:14:52
  again. We're doing it all right.
• 1:14:53
  Dude I guess I guess what the chat just doesn't have.
• 1:14:55
  Lightning wallets. Bunch of scrubs.
• 1:14:58
  We're doing it again, tossing a coin into the wishing well.
• 1:15:03
  And Nico pulls out his wallet right now. 210 sats so.
• 1:15:08
  Let her ride, Let her ride. This is this button.
• 1:15:10
  Is all right, all right, maybe maybe we should be asking Q some
• 1:15:15
  questions about Bitcoin. Well, why you do the wishing
• 1:15:17
  well? No, I wanna.
• 1:15:21
  I wanna, I wanna ask you about Bitcoin.
• 1:15:25
  Well, Infinite, which is a very, very white glove service.
• 1:15:30
  It's designed for people that you know, have have higher net
• 1:15:34
  worth, family offices, etcetera, etcetera.
• 1:15:40
  Family offices, high net worth, individuals, trust
• 1:15:43
  organizations, but essentially it's a white glove service.
• 1:15:46
  You're going to have a dedicated Rep like you that you can call,
• 1:15:51
  you can text, you can bother and essentially they'll be your your
• 1:15:56
  dedicated advisor to help you on your Bitcoin journey on on on
• 1:16:00
  purchasing Bitcoin. So.
• 1:16:01
  Q Could you talk a little bit about that?
• 1:16:03
  Totally. And and I want to add 1 little
• 1:16:05
  thing. It's not just about purchasing
• 1:16:06
  Bitcoin, it's also self custody Bitcoin and that's what
• 1:16:09
  separates Bitcoin, well, Bitcoin well infinite from every other
• 1:16:13
  exchange, especially here in the United States.
• 1:16:16
  This is not an exchange where you're just going to like buy
• 1:16:18
  Bitcoin and it sits there. You literally can't.
• 1:16:20
  We won't let you do that. You have to in setting up the
• 1:16:23
  account, also have a hardware wallet and have to be prepared
• 1:16:27
  to take self custody of the Bitcoin shortly after
• 1:16:30
  purchasing. That's not how it works at
• 1:16:32
  river. That's not how it works at swan
• 1:16:33
  strike. Everywhere else is a custodial
• 1:16:36
  exchange. We are non custodial.
• 1:16:38
  I want every single hardcore bitcoiner to understand that
• 1:16:41
  because instead of having to say not your keys, not your coins,
• 1:16:44
  having to remind people get your Bitcoin off the exchange.
• 1:16:47
  That's what Bitcoin well does from the jump.
• 1:16:50
  We are the Bitcoin exchange for real Bitcoiners and their
• 1:16:54
  friends and family, and that's what myself and our team is here
• 1:16:58
  to do is to help make sense of this journey.
• 1:17:00
  I've been doing this for quite some time.
• 1:17:02
  The joke was before I started getting paid to do this role,
• 1:17:05
  that there's a job out there that I could just do what I've
• 1:17:09
  been doing in my free time for my friends and family and just
• 1:17:12
  do it as a job and get paid to do it.
• 1:17:14
  That sounds kind of surreal and ideal, quite frankly, but that's
• 1:17:19
  that's a high level of you do not have to go about this alone.
• 1:17:24
  If you are confused, if you don't understand you know what
• 1:17:28
  you're doing, how to set things up, or even just the right way
• 1:17:30
  to go about making your first Bitcoin purchase.
• 1:17:33
  It's not the same for everyone. And that's what having a
• 1:17:36
  dedicated advisor like myself helps with to better understand
• 1:17:39
  your situation, what your goals are, and ultimately the best way
• 1:17:44
  for you yourself to store and save in Bitcoin.
• 1:17:47
  I absolutely love that, man. It's, it's, it's, it's a, it's a
• 1:17:50
  personalized journey. And I think let's talk a little
• 1:17:53
  bit about the differentiation queue, because I think what a
• 1:17:57
  lot of these on ramps, not to not to name any names, but a lot
• 1:18:02
  of these on ramps, like by default, essentially when you
• 1:18:05
  buy Bitcoin on them, they don't they just let you leave the
• 1:18:10
  Bitcoin on the on ramp, right? Which again, like we've been
• 1:18:13
  talking about the mission and you know how the revolution is
• 1:18:16
  self custody this entire show. And this is really what
• 1:18:20
  differentiates Bitcoin well from a lot of the other Bitcoin only
• 1:18:26
  exchanges is again, Bitcoin well emphasizes on self custody,
• 1:18:32
  right? And that includes for people
• 1:18:33
  that are buying large amounts of Bitcoin like you still fit into
• 1:18:37
  that category, so to speak. So could you talk a little bit
• 1:18:40
  about that cue, what the philosophy is behind that,
• 1:18:43
  etcetera, etcetera? Totally.
• 1:18:45
  I mean, it's rooted in the way the company was founded.
• 1:18:47
  Adam, the CEO and founder like Bitcoin well has been around for
• 1:18:52
  coming up on 13 years. Like we are one of the oldest
• 1:18:54
  companies in the Bitcoin space. We started as an ATM, but as an
• 1:18:58
  ATM business like you had to have a wallet to send the
• 1:19:02
  Bitcoin to. So from the company's inception,
• 1:19:05
  we've whether intentionally or unintentionally always been self
• 1:19:09
  custody advocates. And then as we've transitioned
• 1:19:12
  and grown the business and turned it into now an online
• 1:19:15
  portal and, and a proper exchange here in the US as well
• 1:19:19
  as around the world, that ethos still rings true.
• 1:19:22
  From the early days of the company, we will always, always,
• 1:19:25
  always advocate and help our customers and clients to self
• 1:19:29
  custody and to better understand self custody.
• 1:19:31
  Because what works for Nico doesn't work for me and vice
• 1:19:33
  versa. What works for one of my clients
• 1:19:36
  here in Los Angeles won't work for another one of my clients up
• 1:19:38
  in Canada. Every single person is unique in
• 1:19:41
  that in their own Bitcoin journey and what their comfort
• 1:19:44
  level makes sense. No one should be going to to bet
• 1:19:49
  worried about the price of Bitcoin, nor should they be
• 1:19:53
  worried about the security and safety of their Bitcoin.
• 1:19:56
  Absolutely 100% by. Hold on.
• 1:19:58
  I, I think that's I, I just want to emphasize like.
• 1:20:02
  Not a lot of Bitcoiners talk about the fact that like there
• 1:20:06
  is no one-size-fits-all. And This is why when I would
• 1:20:09
  talk about like Bitcoin wallets to people on the show, they'd
• 1:20:12
  always be like, just give me one.
• 1:20:14
  And I'm like, well, I don't really know where you're at.
• 1:20:17
  Like, I don't know how technical you are, you know, do you want
• 1:20:20
  something that's easy and convenient, like for your
• 1:20:22
  grandma to use or like your mother and sister and brother
• 1:20:25
  who aren't hardcore Bitcoiners? Or am I talking to like a
• 1:20:29
  hardcore bitcoiner technical that just hasn't, you know,
• 1:20:32
  really, really maybe delve into different hardware wallets,
• 1:20:35
  etcetera. And it's just like, if there
• 1:20:37
  really is no one-size-fits-all and that's not a bad thing.
• 1:20:40
  And we, we really even us here, like we don't talk about that
• 1:20:43
  enough. So it, it is kind of just
• 1:20:45
  refreshing to hear QB like, like it's not just like buy this, do
• 1:20:49
  this. It's like, well, let me see
• 1:20:52
  where you are because I don't want you to wreck yourself.
• 1:20:55
  Yeah, I understand. Like the idea that like everyone
• 1:20:57
  should have a cold card is ludicrous to me.
• 1:20:59
  Absolutely ludicrous. Everyone should have a form of
• 1:21:02
  self custody. But let's be perfectly honest, I
• 1:21:04
  like, I have a cold card. I love it.
• 1:21:06
  I would never give that to my mom.
• 1:21:08
  She would be so overwhelmed. She would lose that Bitcoin
• 1:21:10
  within 30 minutes. Thirty minutes and it's gone.
• 1:21:13
  So like every single person, to Opti's point, like just because
• 1:21:17
  you're using the treasure as a Bitcoin only doesn't make you
• 1:21:19
  any less of a Bitcoiner. Because if that's what makes
• 1:21:22
  sense for you, that's what makes sense.
• 1:21:24
  And that's infinitely better than just leave your Bitcoin on
• 1:21:27
  Coinbase. Infinitely so.
• 1:21:29
  Absolutely. The other side of it too, that
• 1:21:32
  we also talk about, and this is one of the sort of bread and
• 1:21:35
  butter of what Bitcoin Infinite does is figuring out like, you
• 1:21:39
  know, what makes sense as far as how to invest into Bitcoin.
• 1:21:42
  You know, we, we hear a lot around the conversation of, oh,
• 1:21:45
  everyone should DCA or, you know, set limit orders this or
• 1:21:48
  that. It's like, again, it depends.
• 1:21:51
  It 100% depends on your situation, your financial, what
• 1:21:54
  are your goals? And the other thing that I love
• 1:21:56
  knowing about my clients is like, what, you know, are there
• 1:22:00
  moments where we need to potentially be decreasing your
• 1:22:03
  taxable income this year? The best example I can give is
• 1:22:06
  one of the first things I ask clients always is like, do you
• 1:22:09
  own property? Are you selling property this
• 1:22:11
  year? If the answer is yes, let's just
• 1:22:12
  lump sum into Bitcoin now because one of two things
• 1:22:15
  happens. Either the price of Bitcoin goes
• 1:22:17
  down. Oh, so sad.
• 1:22:18
  We're going to tax lost harvest. You're going to decrease the
• 1:22:21
  amount of taxes you're going to pay when you eventually sell
• 1:22:23
  that home later this year. Or the price of Bitcoin goes up,
• 1:22:26
  in which case everyone's celebrating either way.
• 1:22:28
  But those those are unique scenarios, like I'm not a home
• 1:22:32
  owner, that doesn't benefit me. For me it makes more sense to
• 1:22:35
  just be DCA on the red. But again, case by case.
• 1:22:40
  Absolutely. You got to meet people where
• 1:22:42
  they are. I think that's incredibly
• 1:22:43
  important. And everyone is different,
• 1:22:45
  right? 100 percent, 100% agree with
• 1:22:47
  that. Before we close it out ladies
• 1:22:50
  and gentlemen, I do want to give a shout out to our sponsor.
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  All right, everybody. Wait, wait, wait.
• 1:23:55
  Can we can we do one last thing, one last thing?
• 1:23:58
  Q If people want you to be their infinite, well, I, I, what is it
• 1:24:05
  Advisor? Can they reach out to you
• 1:24:08
  directly? How does this work?
• 1:24:09
  Shoot me a DM. My DMS are always open.
• 1:24:12
  You know, I, I went on rocks on the other day and I'll, I'll
• 1:24:15
  kind of sign off saying this like yes, hit me up in DMS if
• 1:24:18
  you ever want to have a conversation about your Bitcoin
• 1:24:21
  custody, your Bitcoin journey if you want help on that.
• 1:24:23
  But also like, I've got takes, I got spicy takes.
• 1:24:27
  I don't care what's on Twitter again.
• 1:24:29
  Q like the letter. Q under score like the letter.
• 1:24:31
  Q under score, like the letter. And if you don't like my takes,
• 1:24:34
  if you don't agree with me, DM me.
• 1:24:36
  Let's have a conversation. We've somehow lost that ability
• 1:24:39
  in our day and age, in our society, and I'm gonna bring
• 1:24:42
  that back one DM at a time. I love that, absolutely love
• 1:24:46
  that. Bars, bars.
• 1:24:47
  That's cool. Motherfucking all right,
• 1:24:52
  everybody, if you guys enjoyed the show, you know what to do
• 1:24:53
  smash that like button and consider subscribing.
• 1:24:55
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• 1:24:57
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• 1:25:00
  Shout out to our special guest today.
• 1:25:01
  Q go follow him at on X on Q under score.
• 1:25:06
  Like the letter. Love you guys.
• 1:25:08
  We'll see you on the next one. Take care, everybody.
• 1:25:11
  Today's episode was brought to you by bitcoinwell.com, a
• 1:25:14
  Bitcoin only platform on a mission to enable financial
• 1:25:17
  independence.