Latest / Simply Bitcoin / How GME Could TRIGGER The NEXT $5B Bitcoin SHORT SQUEEZE? | EP 1181

Transcript

How GME Could TRIGGER The NEXT $5B Bitcoin SHORT SQUEEZE? | EP 1181 · Simply Bitcoin

• 0:00
  Yo, could GameStop create the next Bitcoin short squeeze?
• 0:05
  As crazy as it sounds, I want you guys to remember that GME or
• 0:08
  GameStop has about $5 billion in cash reserves and they've
• 0:13
  essentially been a zombie company since their infamous
• 0:15
  short squeeze in 2021. But let's not forget that GME or
• 0:20
  GameStop current treasury is about 10 times the size of
• 0:25
  MSTRAK. Micro strategies was when
• 0:28
  sailors started buying Bitcoin in 2020.
• 0:31
  So what happened when GameStop discovers that Bitcoin is the
• 0:34
  real short squeeze on the financial system that they were
• 0:37
  looking for? That's when things get
• 0:39
  interesting and it looks like we are not the only ones picking up
• 0:43
  onto this. So let's get to the source
• 0:44
  material. Let me bring in, of course, our
• 0:47
  fearless leader Nico and then we have our boy Dom Bay, a proof of
• 0:52
  workforce. It's going to drop a special
• 0:54
  announcement for you guys, but let's look at this article here.
• 0:56
  It's on Yahoo Finance but came from courts.
• 0:58
  And it goes game GameStop stock surges 8% because it might get
• 1:03
  into Bitcoin. And what is all this speculation
• 1:06
  based on? Well, we got a picture on
• 1:08
  Twitter from the CEO, Ryan Cohen of GameStop and Michael Saylor,
• 1:13
  and there was no caption on this when it got posted to Twitter.
• 1:16
  Literally just this picture got posted on Twitter.
• 1:18
  And so everyone's speculating, wait, is GameStop going to be
• 1:22
  the next company to go into Bitcoin?
• 1:25
  And of course, we all know what happens if you have a huge pile
• 1:29
  of cash sitting in reserves and you're technically a zombie
• 1:32
  company. All of what happened to
• 1:33
  MicroStrategy, it would be a game changer for GameStop.
• 1:36
  Well, anyways, let's get into this article a little bit.
• 1:38
  So shares of GameStop or GME jumped over 8% Monday afternoon
• 1:42
  on speculation that the brick and mortar company may invest in
• 1:45
  Bitcoin. Over the weekend, the Game
• 1:47
  Retailer CEO Ryan Cohen shared a photo of himself with Michael
• 1:50
  Saylor, Co founder of Strategy and the largest corporate holder
• 1:54
  of Bitcoin. And then, of course, is talking
• 1:56
  about the stock, the price of that $26 per share on Monday.
• 1:59
  And of course, the photo was posted with no caption.
• 2:02
  It was just, you know, posted. And it's sparking the
• 2:05
  speculation that maybe GameStop is exploring opportunities
• 2:09
  related to Bitcoin and, and they wouldn't, they wouldn't be doing
• 2:12
  this if they aren't seeing what's happening in the markets.
• 2:15
  Obviously, if you guys are on Twitter and you're seeing what's
• 2:17
  happening with Metaplanet, they followed MicroStrategy, their
• 2:20
  stock is going literally vertical.
• 2:22
  Yesterday we covered this, I think it was Monday and they
• 2:24
  were up 4800%. I think now it might be 5000%
• 2:28
  because yesterday with absolutely nuclear and then of
• 2:31
  course, as the article says, the connection between meme stocks
• 2:34
  and crypto or we'll say Bitcoin. The relationship between Bitcoin
• 2:38
  and meme stocks like GameStop is not new.
• 2:40
  The entire GameStop saga of 2021 significantly impacted the quote
• 2:44
  UN quote crypto markets. Of course, in 2021, a small
• 2:48
  retail investors teamed up to collectively take advantage of
• 2:51
  Gamestop's low share price. And of course, the infamous
• 2:54
  roaring Kitty on YouTube. And of course, there was a, you
• 2:57
  know, a movie about it and everyone probably knows the
• 3:00
  aftermath that they freaking bump the stock.
• 3:03
  There's a huge short squeeze. Remember that I just like the
• 3:06
  stock meme. And they basically blew up a
• 3:09
  hedge fund until they stop trading on Robin Hood and all
• 3:13
  the other trading apps. And of course, the reason we
• 3:16
  think that the real short squeeze on the financial system
• 3:19
  would be Bitcoin is because they can't just stop you trading your
• 3:23
  Bitcoin. There is no off button.
• 3:25
  And if you've been in Bitcoin for a while and close and close
• 3:28
  to the the shit coin markets, there is no vitalic moment where
• 3:31
  it's like, can you guys please stop trading?
• 3:33
  No, once Bitcoin starts running, there is no off button.
• 3:36
  And so I've been saying for a long time that I found it very
• 3:40
  interesting that a lot of people from the GameStop movement, the
• 3:42
  AMC movement didn't all start to flow into Bitcoin.
• 3:46
  They kind of had Stockholm syndrome as far as I'm
• 3:49
  concerned, because they just kept playing in the stock market
• 3:52
  versus if they really understood what they were doing, they would
• 3:55
  eventually port themselves over to Bitcoin.
• 3:57
  And so I think this would be a an incredible marriage here.
• 4:00
  GameStop did go 5 billion deep into Bitcoin, as you can see
• 4:04
  here. It's not exactly 5 billion, but
• 4:06
  here's the GameStop Yahoo Finance page and you can see
• 4:09
  here their, their end cash position is roughly 4.6 billion.
• 4:13
  So it's close to 5 billion and they're sitting on the sidelines
• 4:17
  in cash. I, I tried to look it up this
• 4:20
  morning. I don't know how long they've
• 4:21
  been in cash, but hey, if you rounded up five, you know, $5
• 4:24
  billion cash reserves the last couple of years, even if the
• 4:27
  inflation rate is roughly around, you know, 10%, what's
• 4:30
  that? They've lost about 500 million
• 4:33
  in purchasing power, whereas if they put that in Bitcoin, they
• 4:37
  could have doubled, tripled, 4X their their reserves here.
• 4:40
  And and again, as Max Kaiser is saying here on Twitter, the GME
• 4:45
  putting 5 billion into Bitcoin would be another major milestone
• 4:48
  in the global Bitcoin treasury revolution pioneered by Sailor.
• 4:51
  And you can see the picture here.
• 4:53
  Now the very interesting thing, like I said in the beginning in
• 4:56
  the hook of this is when Sailor started the micro strategy
• 5:00
  position, his company was about 1 billion.
• 5:02
  He had close to around 500 million in cash reserves.
• 5:06
  And now this the company's market cap is around $80
• 5:10
  billion. And of course everyone knows how
• 5:13
  much their cash reserves now are now in Bitcoin.
• 5:16
  He's he's in he's done incredible work here.
• 5:19
  And Gamestop's cash reserves are five times the size of a rather
• 5:23
  the company is five times bigger.
• 5:25
  The reserves are I think at 10 times what it it was when micro
• 5:29
  strategy started. So if GameStop makes this move
• 5:32
  and goes full in on Bitcoin, dumps all their cash reserves in
• 5:36
  Bitcoin, that would not only be incredible for the short squeeze
• 5:39
  on Bitcoin, the the price buying pressure that we'd see, but I
• 5:44
  think it would start a whole new revolution of all these people
• 5:47
  that basically mean stock GameStop to blow up a hedge
• 5:51
  fund. Now, if all those people pointed
• 5:53
  over into Bitcoin or even just did another GameStop short
• 5:55
  squeeze, I think it would really blow up the market for a lot of
• 5:59
  people, open a lot of eyes for people and realize that Bitcoin
• 6:02
  is the real short squeeze on the financial system.
• 6:05
  And once that starts catching on, man, it's really going to be
• 6:08
  some game changing stuff here. So of course we are kind of
• 6:12
  speculating here. We don't know exactly what's
• 6:14
  going on with GameStop, but I think the clue of him hanging
• 6:17
  out with Michael Saylor, you, you can just venture to guess
• 6:20
  that the whole conversation that he had with Michael Saylor was
• 6:24
  figuring out how GameStop can do a micro strategy, Bitcoin
• 6:28
  strategy or strategy, Bitcoin strategy now, however you want
• 6:31
  to name it. And so very interesting stuff.
• 6:34
  Now, of course, we don't know what's coming down the pipeline,
• 6:37
  but like I said, I've always found it interesting that the
• 6:39
  GameStop people, you know, all all the all the kids out there
• 6:43
  buying on Robin Hood that they didn't end up in Bitcoin.
• 6:46
  I know a few friends had end up in Bitcoin because of the
• 6:49
  GameStop movement. And once they realized the rug
• 6:52
  pool that they found their way in the Bitcoin movement.
• 6:55
  But I was, you know, kind of astonished in 2021 that we
• 6:58
  didn't see a lot more of those GameStop people get into
• 7:00
  Bitcoin. But maybe this is going to be
• 7:03
  the point. Maybe this is the catalyst now
• 7:05
  for them to start to understand Bitcoin is their favorite meme
• 7:08
  stock. Getting into Bitcoin, talking to
• 7:10
  Michael Saylor, looking at micro strategy and of course, seeing
• 7:14
  what Metaplanet is doing. Like all these factors are kind
• 7:17
  of culminating into a perfect storm where hey, if you don't
• 7:20
  have Bitcoin, your stock might be dead.
• 7:23
  And remember, zombie companies are are everywhere on NASDAQ
• 7:28
  right now. And all they really need is some
• 7:29
  turbo jet fuel by adding Bitcoin to their balance sheet.
• 7:33
  So I found this very interesting yesterday when we kind of saw
• 7:36
  this new, new news. But the real interesting part is
• 7:38
  that mainstream or corporate press is kind of picking up on
• 7:41
  this. They're kind of connecting the
• 7:42
  dots. Like, oh wait, GameStop stock,
• 7:45
  you know, surged 8%, an incredible 8% because of just a
• 7:49
  picture of sailor with the CEO. Up incredible stuff happening
• 7:54
  and it's going to be very interesting if he does finally
• 7:56
  pull the trigger on this one. So exciting, exciting times.
• 8:00
  How about I I know, I know Dom's been sitting here trying to
• 8:04
  chime in here. Dom, what's your take on the
• 8:08
  GameStop CEO and sailor hanging out?
• 8:11
  Yeah, so you can get a similar pop from just being, you know,
• 8:15
  seen in a photo with Nico. That will also boost because if
• 8:19
  you're talking to my guy Nico, you're also considering some
• 8:22
  Bitcoin stuff. But Sailor obviously elevates
• 8:24
  that. So that's crazy that you can
• 8:26
  just take a photo with Sailor and have an effect that just
• 8:29
  lets you know how heavy Sailor is in the game right now.
• 8:34
  That'd be pretty cool if it goes down.
• 8:36
  They say that you are the company you keep.
• 8:39
  And I mean, that also involves the the assets that you keep on
• 8:43
  your balance book. So companies that hold Bitcoin,
• 8:47
  they keep good company and good things happen and we see a lot
• 8:50
  of benefits. You mentioned Metaplanet, what's
• 8:52
  that thing up like 4000%? So this is the way Bitcoin is
• 8:57
  the future and companies have to start holding something of value
• 9:02
  and they have to do it quickly. Yeah, absolutely 100% man and
• 9:07
  and yeah, like you said Opti, the the biggest tell I think is
• 9:11
  the GameStop CEO in that picture with right next to sailor.
• 9:16
  What do you think they're talking about?
• 9:18
  Do you think they're talking about, you know, the?
• 9:20
  New York Times. Journalistic Integrity.
• 9:23
  Super Bowl? Yeah, they're talking about time
• 9:26
  like sailor, sailor. Like, you know, he, he wrote,
• 9:30
  he, he did that three minute presentation for Microsoft where
• 9:33
  like he literally told Microsoft they're going to have fun
• 9:36
  staying poor if they didn't buy Bitcoin and GameStop.
• 9:39
  Like, you know, now the games are, are like digital now, now
• 9:43
  these days, like what else is that company going to do?
• 9:47
  And it kind of reminds me of Metaplanet, Like Metaplanet was
• 9:50
  essentially a zombie hotel chain.
• 9:54
  Like they almost went out of business due to the due to the
• 9:59
  pandemic and then they implemented a Bitcoin strategy,
• 10:04
  Dylan Leclair, like join the company and since then they're
• 10:08
  up 4800% of 48 X, right? And you know, they, they didn't
• 10:15
  really, they didn't really have an underlying company.
• 10:17
  They just became a Bitcoin holding company.
• 10:20
  So if GameStop and it it already has a lot of good faith too with
• 10:23
  like what you're saying Opti with like a lot of these
• 10:26
  zoomers, you know, they're trying to rebel against the the
• 10:29
  the the system like the whole Wall Street bets movement,
• 10:33
  everyone just buying GameStop to buy GameStop roaring Kitty like
• 10:38
  you know, so it has a lot of memetic power and we know that
• 10:41
  on the Internet memetic power goes a very long way.
• 10:44
  So if the news broke that GameStop was going to start
• 10:50
  buying Bitcoin, like, you know what?
• 10:54
  I miss MicroStrategy. I miss Metaplanet, but that will
• 11:00
  be very attractive to me to buy some GameStop because I think
• 11:05
  that stock will go through the roof.
• 11:07
  It will go through the roof. Like could you imagine like the
• 11:11
  and, and all those company, all those hedge funds that try to
• 11:13
  kill GameStop with all the short squeezes and all the, all the
• 11:16
  things that they try, they essentially were betting against
• 11:20
  GameStop dying. It was like the community, it
• 11:22
  was just like a bunch of millennials that were just
• 11:24
  basically like, no, like we're not going to let it die on our
• 11:28
  watch. We're going to keep this this
• 11:29
  thing alive. And they did just that, right?
• 11:33
  So, yeah, man, I mean, let's see what happens.
• 11:36
  I think it would be explosive for the stock there for the
• 11:39
  company. I think it'd be a great
• 11:41
  opportunity for anyone who's like looking at the GameStop,
• 11:45
  the the GameStop stock, because if it follows in the foot, even
• 11:50
  if it does half or you know, 25 or 30 or 40% of of you know,
• 11:56
  what Metaplanet did or what MicroStrategy did, I mean,
• 12:00
  that's a hell of a return in a very short amount of time.
• 12:03
  So I mean, I think it's going to happen.
• 12:05
  I think it's an obvious move. What else are they going to do?
• 12:09
  Like what else are they going to do?
• 12:10
  How are they going to pivot? All the games are digital now.
• 12:13
  Like people don't go to the store.
• 12:16
  Like are they going to let themselves become Blockbuster or
• 12:21
  are they going to pivot into a Bitcoin strategy?
• 12:24
  Like if Bitcoin were around when Blockbuster was going out of
• 12:29
  business, I don't think Blockbuster would have gone out
• 12:32
  of business. They would have.
• 12:33
  They would have. They would have been mining
• 12:35
  blocks and they would have been a different kind of blockbuster.
• 12:37
  They would have been busting blocks all day, you know what I
• 12:41
  mean? They would have figured.
• 12:42
  They don't even need to change the fucking name.
• 12:44
  Dom is spot on. They don't even need to change
• 12:46
  the name. They could have just kept it.
• 12:48
  Bitcoin could have saved Blockbuster straight up.
• 12:52
  So yeah, I mean, I think we're going to see this specifically
• 12:55
  with companies that they don't see a way out.
• 12:58
  They feel like they're trapped. You know, we heard this story
• 13:01
  from Michael Saylor, like essentially he's like, look, I
• 13:03
  was looking to retire. I couldn't compete with
• 13:05
  Microsoft. I couldn't compete with Oracle.
• 13:08
  And then he he found an edge and that edge is Bitcoin.
• 13:11
  And now he's the best performing stock.
• 13:13
  And Japan, you know, first Japanese company do it.
• 13:16
  They're the best performing stock in the Japanese stock
• 13:18
  market. That trend ain't going to stop.
• 13:21
  They just found the cheat code. They found the financial cheat
• 13:24
  code. And that financial cheat code is
• 13:26
  Bitcoin, of course. For sure.
• 13:29
  And then look, we know, we know to your point, Nico, the race is
• 13:33
  just getting faster and it's accelerating and we know the
• 13:36
  money supply is leading that pace.
• 13:39
  And so again, what seems not like an emergency.
• 13:42
  Now the reason why we advocate so much to learn about Bitcoin
• 13:46
  is the time to do it is not when the the race is full Sprint
• 13:50
  ahead and it's time to catch up. For a company like GameStop, the
• 13:53
  time is now. You only have a limited time
• 13:56
  where you can get in a good position, not just in Bitcoin,
• 13:59
  just getting your whole company in a good position.
• 14:01
  And eventually, suddenly, you know, gradually, then suddenly
• 14:05
  the race will become too much and, and companies will start
• 14:08
  falling off. It's just, it's just
• 14:09
  unfortunate. 100%, it's a snowball.
• 14:12
  I think it's, I think it's inevitable Every, every
• 14:15
  company's going to adopt Bitcoin at one point or the other.
• 14:18
  The only question is how long is it going to take, right?
• 14:22
  And the longer it takes, the less Bitcoin you're going to be
• 14:25
  able to acquire because it's going to be a lot more
• 14:26
  expensive. Anyways, I want to give a shout
• 14:27
  out to everybody, everybody watching the show.
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  today. All right everybody, at the time
• 18:19
  of recording, the Bitcoin price is $97,480.
• 18:25
  Block height 883,456 sats per dollar 1026 market cap 1.93
• 18:33
  trillion Bitcoin versus gold market cap 9.44% Percentage
• 18:37
  issued 94.39% decline from all time high -10.6%.
• 18:44
  Realize monetary inflation 1%. And the grand scheme of things,
• 18:48
  we are just getting started. Anyways, here's Kathy Wood
• 18:53
  talking about $1.5 million prediction.
• 18:57
  Again, this is her bull case for the year 2030.
• 19:02
  Her base case is actually 700K per Bitcoin by 20-30.
• 19:07
  So five years from now, solid 7X.
• 19:10
  That's an incredible performance.
• 19:12
  And if it reaches 1.5 million, that's a solid 15X in five
• 19:17
  years, which is like an incredible, incredible return.
• 19:21
  So I'm going to play you guys a clip and then Dom Opti and I are
• 19:25
  going to talk about it. Let's check it out.
• 19:28
  We'll jog over to another part of the big ideas that I know
• 19:33
  many people enjoy and that is about crypto assets or digital
• 19:39
  assets and you'll see how we get to our base case for the Bitcoin
• 19:46
  price and our bull case. Many people know us for our bull
• 19:50
  case, $1.5 million and we actually think the odds have
• 19:55
  gone up that our bull case will be the right number because of
• 20:01
  what is becoming the institutionalization of this new
• 20:06
  asset class. So many institutional investors
• 20:10
  are now looking at Bitcoin and thinking that they need to add
• 20:16
  it to their asset allocation because it's return profile
• 20:22
  looks so much different and it's risk profile looks so much
• 20:26
  different from all of the. So I mean, yeah, I think she's
• 20:33
  absolutely right. I think also, I don't know if
• 20:35
  she mentioned this or not, but essentially, you know, the
• 20:38
  potential of a strategic Bitcoin reserve, right?
• 20:41
  It's not only Wall Street adopting this, but it's also,
• 20:46
  it's also, you know, nation States and it's also potentially
• 20:51
  there's many states we're going to talk about this during the
• 20:53
  new segment. There's many states that are
• 20:55
  looking that, that are actively trying to pass legislation to
• 21:01
  enact strategic Bitcoin reserves.
• 21:02
  And Dom with proof of workforce, I mean, he's doing incredible
• 21:06
  work with pension funds and with people all around, all, all
• 21:11
  around the country. So the adoption is real and it's
• 21:14
  happening on every level, whether it's the institutional
• 21:18
  level, whether it's the nation state level, whether it's the
• 21:21
  pension level. So Dom, I don't know if you want
• 21:23
  to talk a little bit about this. Do you think that Kathy Wood is
• 21:26
  being overly bullish, bearish, or do you agree with her
• 21:29
  prediction for 2030? Well, my first observation is
• 21:34
  that she's not using the Shure SM7 microphone that we all love
• 21:39
  so much. So I want to make sure we can
• 21:41
  get that message to her 'cause that's an ideal that that's
• 21:43
  really good for the reverb. She All right, so, so price
• 21:48
  prediction, you guys know, I, I try to stay away from price
• 21:51
  prediction because it's just filled with, you know, broken
• 21:55
  dreams, let downs, but sometimes it exceeds in the other
• 21:58
  direction. But I think Kathy, you know, is
• 22:02
  taking calculations and looking at the total addressable market.
• 22:06
  She's looking at adoption. She's not just throwing these
• 22:09
  numbers out without any kind of analysis.
• 22:12
  She obviously sells a Bitcoin product, so it's in her interest
• 22:15
  to do so. But these numbers all have, you
• 22:19
  know, real potential behind them.
• 22:21
  And as you mentioned, Nico, we are seeing only the beginnings
• 22:25
  of the institutional cycle. It feels like a lifetime ago,
• 22:29
  but it was only one year ago last January that the the the
• 22:32
  Bitcoin ETF came to exist, which opened the door for
• 22:36
  institutions. It's only been one year.
• 22:39
  These things, we know that pension funds take time.
• 22:42
  There's a lot of internal things that have to happen.
• 22:45
  We saw Wisconsin get out of the gate early.
• 22:47
  We were happy to play a small role in that and working with
• 22:50
  their board of trustees. We saw a Michigan pension fund
• 22:54
  take a very small step. We're seeing, you know,
• 22:57
  strategic bills at the state level.
• 22:59
  These are the beginnings. And I think Kathy looking out
• 23:02
  five years is seeing the the March to adoption and saying,
• 23:05
  look, this is inevitable in some form.
• 23:07
  There may be states that don't adopt or pensions that stay on
• 23:11
  the sidelines, but the trend is leading towards adoption.
• 23:15
  And if that happens, this is what the price of Bitcoin would
• 23:18
  be. So, you know, she gives a wide
• 23:20
  throw of what it might be, but I think those are realistic
• 23:23
  numbers depending on how things play out.
• 23:26
  Absolutely. And just a breaking news for
• 23:28
  everybody who's listening to simply Bitcoin.
• 23:30
  Dom just predicted $1 million Bitcoin in 2025.
• 23:37
  TLDR, that's what I got from from what he said.
• 23:39
  No, I'm just kidding. No, absolutely agree with you,
• 23:42
  Dom. And, and, and it's what's really
• 23:45
  interesting Dom too, is what you guys do at proof of workforce.
• 23:49
  It's so unique. You guys are essentially on the
• 23:53
  ground, boots on the ground, really, really trying to help
• 23:59
  middle class workers, blue collar workers start to feel the
• 24:03
  benefits of adopting Bitcoin, whether you know, it's, it's
• 24:07
  putting it aside for retirement for their pensions.
• 24:12
  So can you talk a little bit about that?
• 24:14
  Because I think, you know, one of the one of my favorite things
• 24:16
  about Bitcoin is the aligned incentive structure.
• 24:19
  So by more people adopting Bitcoin, the price goes up.
• 24:24
  If you're holding Bitcoin, you're obviously going to
• 24:26
  benefit from number go up technology.
• 24:28
  And that's in stark contrast with how the Fiat system works,
• 24:31
  right, where there's winners and losers.
• 24:32
  So, Dom, can you talk a little bit about that?
• 24:35
  Yeah, You know, like many of us, right, when learning about
• 24:38
  Bitcoin, Chancellor, on the brink of second bailout for
• 24:44
  banks. Why was that in the genesis
• 24:46
  block? Well, it was such a pivotal
• 24:48
  time. And we saw in the financial
• 24:50
  crisis that a very select few people got to pick winners and
• 24:54
  losers. And some of the biggest losers
• 24:57
  of the financial crisis were your everyday workers and wage
• 25:01
  earners. So in the ethos of Bitcoin in
• 25:04
  itself, the actual genesis block, it's making a statement
• 25:07
  saying, hey, this thing is for workers and wage earners to have
• 25:12
  a tool to protect their wealth, their time, their energy.
• 25:17
  So when you talk about incentive alignment, it can't be more
• 25:20
  clear than that. And so our mission to proof of
• 25:23
  workforce, as you mentioned, we are going to make sure that
• 25:26
  workers and wage earners are along for the ride in Bitcoin.
• 25:30
  And that in 10 years when this potential outcome, like Kathy
• 25:34
  Wood is mentioning occurs that workers and wage earners are not
• 25:38
  left behind, that they will have found Bitcoin and found a way to
• 25:41
  protect their time, their energy.
• 25:44
  We just saw higher than expected inflation numbers, right?
• 25:48
  So now I always, I have this new saying 2% raise is the new pay
• 25:52
  cut. That used to be the industry
• 25:54
  standard for like a pay raise adjustment to keep up with
• 25:56
  inflation. But now the 2% raise is the new
• 25:59
  pay cut and we're helping workers find Bitcoin.
• 26:03
  Unions exist. They're kind of forget about the
• 26:07
  bigger unions because I know a lot of people only see these
• 26:09
  national unions that are very large.
• 26:11
  But I want you to think more about the smaller unions at the
• 26:14
  local and state level. They're just groups of like
• 26:18
  organized workers that take care of each other.
• 26:20
  They have organizations that, you know, help them get good
• 26:23
  contracts, keep up with inflation, etcetera.
• 26:26
  These are the folks that are coming onto Bitcoin.
• 26:28
  So the news which was huge, huge today, I don't like to use huge,
• 26:33
  huge breaking because you know, you know, got to be careful.
• 26:36
  So I'll, I'll roll back to single huge breaking.
• 26:39
  But the first law enforcement association in the United States
• 26:45
  just approved putting Bitcoin on the balance sheet since that has
• 26:50
  occurred. Prior to that, it was all
• 26:53
  firefighter unions that were doing so.
• 26:55
  So we now have breached outside of a single sector of workers
• 27:02
  and wage earners to another sector.
• 27:04
  We're still in public safety, but we now have law enforcement.
• 27:07
  This is going to obviously wake up a lot of other law
• 27:10
  enforcement agencies. There's 1.2 million officers in
• 27:15
  the United States and we have things going on with other
• 27:18
  sectors on the private side. So this is a huge development
• 27:24
  because the first step is the hardest.
• 27:26
  And we saw within the firefighters that the first
• 27:29
  union to get off led to another 4 following and another two
• 27:32
  globally following. So this is going to probably
• 27:36
  take a similar course. So again, this we will not stop
• 27:40
  working. The proof of work is is
• 27:42
  relentless and we are going to make sure that workers and wage
• 27:45
  earners find this thing called Bitcoin.
• 27:47
  How Yeah, I mean, Bitcoin is the money for the middle class, like
• 27:52
  Bitcoin is the money for the middle class.
• 27:54
  So it doesn't surprise me that, you know, 1 union starts to feel
• 27:59
  the benefits of Bitcoin and then they look at another union and
• 28:02
  they say, hey, you know what guys?
• 28:04
  This is probably a good idea. And then I think it it will
• 28:07
  reach a critical mass, like it'll start to snowball.
• 28:09
  So yeah, what you guys are doing over there, Dom, is absolutely
• 28:13
  incredible. Guys, go check out proof of
• 28:16
  workforce.org. They recently launched a YouTube
• 28:20
  channel. We're going to be talking about
• 28:21
  that during the culture. So you guys got to subscribe to
• 28:24
  that for the latest news about what Dom is doing.
• 28:27
  So Opti, I don't know if you want to chime in, is Kathy Wood
• 28:31
  bullish or bearish with her $1.5 million prediction?
• 28:36
  Well it's also 1.5 male by 20 or 2030 right?
• 28:40
  That's that's her bowl case, I mean.
• 28:45
  It's hard to say she's. Not like, you know, bull tarted
• 28:48
  on this, but yeah, I I even 1.5 mil by 20-30 and I think I'm as
• 28:53
  bullish as anyone else in five years.
• 28:55
  That seems still kind of like out there.
• 28:58
  I think the one $1 million meme right now is the new 100K meme
• 29:02
  that we all dealt with in 2021. So it that it feels the same
• 29:06
  thing to me. So I think it is a little
• 29:08
  bullish, but I, I don't want the, the chat to throw tomatoes
• 29:10
  at me and call me a bear here because that's usually Nico's
• 29:13
  job. But I love, I love, oh, you know
• 29:16
  how she said it because she has been kind of doubling down on,
• 29:20
  on this idea and, and her, her analysis on $1.5 million to
• 29:25
  2030. And like she said, you know,
• 29:27
  everyone kind of latched on to 1.5 mil by 20-30.
• 29:31
  And that's kind of the meme that gets passed around on the
• 29:34
  Internet. But as she was saying in that
• 29:36
  clip, from all of the data points that she's seeing her,
• 29:40
  her, you know, her percentage of that actually happening is
• 29:44
  starting to increase. And obviously, none of us have a
• 29:46
  crystal ball. But considering all the
• 29:49
  different things that are playing out right now, it does
• 29:51
  seem like that is a likely thing that will play out.
• 29:54
  Is it going to be a similar cycle of the past?
• 29:57
  Obviously, we don't know. It seems like the Bitcoin price
• 29:59
  is doing this like stair stepping now where it, you know,
• 30:02
  it pumps and it goes sideways and then it pumps and goes
• 30:04
  sideways. So is this the new format for
• 30:07
  the Bitcoin price to continue to appreciate or are we going to
• 30:11
  see a crazy end of 2025 again? I think all of these answers
• 30:14
  will be will be or all of these questions will be answered by
• 30:17
  the end of this year and we'll kind of have a better idea of
• 30:20
  what's going on. But it is very interesting that
• 30:22
  we're no longer really in the 2017 cycle where it's being
• 30:26
  where the Bitcoin price is being driven by retail.
• 30:28
  It seems like we're entering a new a new realm like Kathy Woods
• 30:31
  was saying, where it's institutional capital or
• 30:33
  institutional interest or nation states that seem to be driving
• 30:37
  the Bitcoin price. Because there is a lot of
• 30:39
  correlation between other macro assets and Bitcoin right now.
• 30:43
  Like even even yesterday or this morning, you know, the inflation
• 30:46
  numbers came in a little hotter than people thought and the
• 30:49
  Bitcoin price dump when it should have been, you know,
• 30:51
  either holding steady or going up.
• 30:53
  So there is this correlation right now, even though that
• 30:56
  Bitcoin is the quote on UN quote risk off asset that we believe
• 30:59
  it is in the meantime, it still seems to have some correlation
• 31:04
  with traditional markets, but we'll see what happens by the
• 31:06
  end of this year. So you know I.
• 31:08
  Do love A1? Point $5,000,000 Bitcoin
• 31:10
  prediction in five years. That sounds great to me, but I
• 31:13
  love the fact that she's saying, hey, it looks like my percentage
• 31:16
  of this happening is starting to increase with all the data.
• 31:19
  Again, we don't have crystal balls, but it is very
• 31:21
  interesting to see more of us become bullish in the face of
• 31:24
  everyone still kind of having PTSD.
• 31:27
  Jump in, jump in Dom. Well, we got to remember too
• 31:30
  that $1.5 million in five years is not going to be $1.5 million
• 31:35
  on your hard stop, right? So if you take a conservative 5%
• 31:39
  inflation rate for five years at 25%, in five years $1.5 million
• 31:44
  is actually going to be $1.125 million.
• 31:48
  So Kathy Wood probably is also factoring that into her, you
• 31:53
  know, price call in that again, 1.5 is not going to be 1.5.
• 31:57
  So we may be sitting there being like 1.5 like it's crazy.
• 32:01
  I'm going to go get 2 Tacoma trucks, you know, and you're
• 32:03
  like, all right, like so we got to factor that in two because,
• 32:08
  you know, often times we miss that when we're factoring in
• 32:10
  price, that dollars aren't going to be anywhere close to the same
• 32:14
  value. Well, it's also dumb.
• 32:16
  I mean, to your point, though, most of the predictions are
• 32:19
  well, actually I, I'm not going to put words in, in their mouth,
• 32:22
  but I think, I think what she does is 1.5 million prediction.
• 32:25
  Yes, we're talking about $1.5 million per Bitcoin, but I think
• 32:29
  we're, we're all kind of the given is or, or is this idea
• 32:33
  that it's going to be 1.5 million of purchasing power.
• 32:36
  So hey, does that mean it's hyperinflating or does that mean
• 32:38
  that Bitcoin can still buy you $1.5 million of goods?
• 32:42
  I guess we you won't know until it happens.
• 32:45
  Yeah, for sure. No, it's, it's, it's going to be
• 32:47
  interesting. Not, not regardless of what
• 32:49
  happens. Better to be on the Bitcoin ride
• 32:52
  with Bitcoin than without That's.
• 32:54
  It absolutely, absolutely 100%. I think the you know, the world
• 32:58
  is wake slowly waking up to that reality that you know it.
• 33:02
  Bitcoin is not a choice like you either you either have Bitcoin
• 33:06
  or, you know, you get left behind.
• 33:07
  Whether that's an individual, a pension fund, a union, nation,
• 33:13
  state business, doesn't matter. Like you need Bitcoin.
• 33:18
  It's, it's like basically the equivalent would say.
• 33:20
  It would be like saying like the years 2025 and I don't use the
• 33:24
  Internet like I, I, I, I, I just don't use the Internet.
• 33:27
  Can't you know, it's the Internet's not for me, etcetera,
• 33:32
  etcetera. Anyhow, guys, we're going to get
• 33:34
  to the news. We have tons to talk about
• 33:36
  today. We have a loaded show for you
• 33:38
  guys. Elon was referred to by the
• 33:44
  legacy media, referred to Elon by his new handle, Harry.
• 33:47
  Yeah. So that was hilarious.
• 33:50
  Also. Also the Financial Times.
• 33:53
  It's not just pension funds. It's not just unions.
• 33:56
  It's not just nation states, it's not just businesses.
• 34:00
  Now US endowments join the party and they're looking into
• 34:05
  Bitcoin. And of course we have an update
• 34:08
  for you guys on the state level. 20 states now have a reserve
• 34:14
  bills. You know there's different
• 34:16
  progress for all of them. So we're going to do an update
• 34:18
  for you guys on that front and then during the culture segment,
• 34:22
  we're going to talk more about proof of workforce.
• 34:24
  They just launched a YouTube channel.
• 34:26
  You guys have to subscribe to it.
• 34:28
  So guys we still have a load of content for you guys stay tuned.
• 34:32
  If you guys are enjoying the show so far, make sure to smash
• 34:34
  that like button. We're on the verge of breaking
• 34:37
  150 likes. Help us break 200 likes by the
• 34:41
  end of the show. So guys, smash the like button.
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  and a total of 2000 of you guys watching live between YouTube
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• 34:55
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• 34:57
  Back for every 100 likes we will drop an impersonation.
• 35:00
  I will drop one for you guys. So it's got every block of 100
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  will drop an impersonation. Christopher Walken will be right
• 35:06
  back and we'll see you guys in a bit.
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  All right, everybody, let's jump into today's news, the Financial
• 38:04
  Times, AKA the Fiat times. Check out this this headline
• 38:08
  article. US endorsements, endowments US
• 38:11
  endowments join crypto rush by building Bitcoin portfolios US
• 38:17
  foundations and university endowments are ramping up their
• 38:20
  exposure to cryptocurrencies to join the digital assets rush,
• 38:24
  prompted by President Donald Trump's promise to make the
• 38:27
  nation the world's Bitcoin superpower.
• 38:29
  Crypto has far outperformed other asset classes over the
• 38:33
  past five years despite its high volatility, with many who have
• 38:38
  stood on the sidelines now jumping in for fear of missing
• 38:41
  out on the runaway price jumps. The one year old university of
• 38:46
  the one year old World University of Austin is raising
• 38:48
  a $5,000,000 Bitcoin fund. Excuse me, the first of its kind
• 38:54
  among the country's endowments and foundations for its $200
• 38:58
  million endowment. In October, Emory University in
• 39:02
  Georgia became the first college endowment to disclose holdings
• 39:06
  of Bitcoin ETFs. The 4.8.
• 39:10
  The $4.8 billion. Rockefeller Foundation is
• 39:13
  considering increasing exposure to crypto currencies if their
• 39:17
  user base becomes more diversified after investing in
• 39:20
  crypto venture funds two years ago, according to its chief
• 39:24
  investment officer. Quote.
• 39:26
  We don't have a crystal ball on how crypto currencies will
• 39:29
  become in 10 years, said the foundations chief investment
• 39:32
  officer. We don't want to be left behind.
• 39:35
  That's the keyword there, and I think we said it in the last
• 39:38
  segment. We don't want to be left behind
• 39:40
  when their potential materials materializes dramatically.
• 39:44
  Cryptocurrency venture funds are reporting an influx of capital
• 39:48
  from endowments and foundations that until a few years ago were
• 39:52
  on the sidelines. Pantera Capital, a leading
• 39:55
  venture fund focus on digital assets in California, has since
• 39:59
  2018 seen an 8 fold increase in the number of endowment and
• 40:04
  foundation clients. Leading US endowments and
• 40:07
  foundations were among the first institutional investors to
• 40:10
  embrace cryptocurrencies. Yale University's endowment
• 40:13
  invested in two cryptocurrency venture funds in 2018, when
• 40:18
  Bitcoin prices were less than 1/10 of today's level.
• 40:23
  So I mean, this is crazy. We're seeing Bitcoin adoption.
• 40:26
  I know it's not spot Bitcoin. I know it's not in self custody.
• 40:29
  We have to be precise when we say that.
• 40:31
  But again, you're seeing endowments, you're seeing
• 40:34
  pension funds, you're seeing unions, you're seeing companies,
• 40:38
  you're seeing nation states, you're seeing states.
• 40:41
  They're all looking at Bitcoin and adopting Bitcoin.
• 40:45
  And then that that leads me to the news of today, an update on
• 40:50
  the Bitcoin laws. All these states that you guys
• 40:53
  see on the video right now, I'll go through them.
• 40:56
  The state of Florida, State of Texas, State of I think that's
• 41:01
  Oklahoma, state of New Mexico, state of Arizona, state of Utah,
• 41:05
  state of Wyoming, state of Montana, North Dakota, South
• 41:09
  Dakota, Iowa, Missouri, Illinois, Kentucky.
• 41:15
  I think that's Ohio, Pennsylvania.
• 41:17
  You guys get the point. North Carolina, New Hampshire, a
• 41:20
  lot of states are all looking to add strategic Bitcoin reserves.
• 41:27
  I think the states are actually going to beat the federal
• 41:31
  initiative and I think it's actually going to incentivize
• 41:35
  the federal initiative to move faster.
• 41:37
  And this has an update on all of them.
• 41:39
  So on. In some states, it's been
• 41:41
  totally just stopped. Like North Dakota didn't work
• 41:44
  out, Pennsylvania didn't work out, Wyoming didn't work out.
• 41:47
  But it seems like the state of Utah, it's already moved on to
• 41:52
  the second committee, then it's going to move on to the chamber,
• 41:57
  and then it gets enacted into law.
• 41:59
  So it seems like the state of Utah is leading the race for
• 42:02
  state level strategic Bitcoin reserve initiatives.
• 42:06
  Absolutely crazy. And here's another ex post that
• 42:09
  I thought I think you guys will find valuable.
• 42:12
  This is from Matthew Siegel. And he says we analyzed 20 state
• 42:16
  level Bitcoin reserve bills. If enacted, they could drive $23
• 42:21
  billion in buying or over 247,000 Bitcoin.
• 42:26
  The sum is independent of any pension fund allocations likely
• 42:30
  to rise if legislators move forward.
• 42:33
  So I mean, extremely exciting stuff.
• 42:36
  We're seeing Bitcoin adopted on every level, state level,
• 42:40
  company level. I mean, I've, I've said every,
• 42:43
  it's just every level. It's happening everywhere.
• 42:45
  I mean, it's, it's happening all at once.
• 42:47
  I mean, this is something that we were, we dreamed of, we
• 42:50
  speculated. I think a lot of us assumed this
• 42:53
  was going to happen because we fundamentally understood the
• 42:56
  game theory. But one thing is understanding a
• 42:59
  game theory and one thing is actually seeing it happen in
• 43:03
  reality. And it's crazy.
• 43:05
  I, I didn't think it was going to happen this quickly.
• 43:07
  I was anticipating that Bitcoin was going to be introduced into
• 43:12
  the mainstream political discourse by 2028 and before the
• 43:16
  El Salvador law. We are predicting that it was
• 43:19
  going to happen like in 2023 or 2024 that a nation state was
• 43:23
  going to make Bitcoin legal tender and it happened a lot
• 43:26
  sooner. So I think Bitcoin adoption on a
• 43:31
  nation state level, on an individual level, I think we're
• 43:34
  on the verge of the S curve going parabolic.
• 43:39
  The all the signs are there and you know, a lot of people, I
• 43:44
  don't hear a lot of people talking about this because I
• 43:46
  think a lot of people were demotivated or I think they were
• 43:50
  expecting the strategic Bitcoin reserve to be implemented
• 43:57
  essentially on day one of Trump's, you know, Trump's
• 44:02
  presidency, second, second term, but it didn't happen.
• 44:07
  And the executive order that he did release, I think let a lot
• 44:12
  of people down, right, because he didn't mention Bitcoin by
• 44:15
  name. He said digital assets.
• 44:17
  Now, David Sachs did clarify that in a press conference where
• 44:22
  a reporter asked him about an update on the Bitcoin strategic
• 44:25
  Reserve. And he said that they are
• 44:27
  looking into it. I think there's still a very
• 44:29
  high probability that strategic Bitcoin reserve happens in 2025.
• 44:34
  And if that happens, I would not, I know that Dom doesn't
• 44:37
  like price predictions, but I would not be surprised if we saw
• 44:42
  half $1,000,000 Bitcoin by the end of the year.
• 44:44
  Because essentially what that mean, that would that would mean
• 44:46
  is like a rubber stamp of approval by the most powerful
• 44:51
  government country militarily and economically on the face of
• 44:57
  the earth. And they're basically saying,
• 44:59
  you know what, we have to own Bitcoin And the domino effect
• 45:03
  that that's going to cause like Russia, Brazil, China, like all
• 45:09
  the European countries that don't like Bitcoin, all of a
• 45:11
  sudden they're, they're going to have, they're going to be forced
• 45:13
  to like Bitcoin because if not, they get left behind.
• 45:16
  And that's exactly the words that this article was just
• 45:20
  using. That was the reasoning that
• 45:22
  these endowments are looking at Bitcoin.
• 45:24
  They feel they, they fear like they might get left behind if
• 45:29
  they don't get on the train, right.
• 45:31
  So very, very bullish news happening worldwide.
• 45:34
  Endowments are getting in, pension funds, unions.
• 45:37
  I'm so glad that Doms on the show today because he's an
• 45:40
  expert on all that stuff. So yeah, man, Dom, what's your
• 45:43
  thoughts on this, bro? Endowments are now throwing
• 45:46
  their hat in the ring. Yeah, a lot of great news there
• 45:49
  between the endowments and the state bills.
• 45:52
  Look, this is a testament to what's an aspect or phenomenon
• 45:57
  called brand resilience and ID. And we know for the people that
• 46:02
  have been in Bitcoin for quite some time, despite all the
• 46:05
  declared dead, all the bad media press, that the brand resilience
• 46:10
  of Bitcoin has been unrivalled. It's unparalleled.
• 46:14
  Well, the rest of the world is finding this out and no one is
• 46:17
  immune, immune from the damage that is caused by rampant
• 46:21
  inflation. So endowment funds, charity
• 46:24
  funds, they work, they work hard.
• 46:27
  Maybe endowment funds not as hard.
• 46:28
  They got some good alumni at certain schools that, you know,
• 46:31
  give some give some money. But certainly charity funds,
• 46:34
  they work hard to raise funds and have money available for
• 46:37
  whatever their organization and mission is.
• 46:39
  Well, when those funds are depleting, they're not being
• 46:42
  successful. That's a failure, right?
• 46:44
  It's so hard to raise money if you're a charitable fund and
• 46:47
  you're holding a bunch of cash and over a couple years, that's
• 46:50
  15% less than you're able to help 15% less people.
• 46:55
  And so they're learning, wait a minute, Bitcoin has this brand
• 46:59
  resilience where if we can hold it for the long term and not be
• 47:01
  in a position where we have to sell it, it can buoy our whole
• 47:04
  funds so that we can survive that that fall in value of our
• 47:09
  cash. So everyone's figuring it out
• 47:12
  and you just covered a lot of different sectors, Nico, but
• 47:16
  endowment funds, the states are figuring it out.
• 47:18
  Hey, we have to work three times as hard.
• 47:21
  If we're earning revenue for our state and then that revenue is
• 47:24
  is losing value faster than we can make the revenue, we have to
• 47:28
  figure something else. Well, what is that something
• 47:30
  else other than having an insider track to certain stocks
• 47:35
  or things like that? It's Bitcoin.
• 47:37
  It's proven itself since its inception to keep pace and
• 47:41
  outperform this. So all these groups are figuring
• 47:44
  it out. All of it is fair game.
• 47:46
  And the nation state thing, you know, Nico, you mentioned we
• 47:50
  didn't expect this to happen at this time.
• 47:52
  These things play off of each other.
• 47:54
  So now you have the scarcity aspect.
• 47:56
  And if nation states start stacking Bitcoin, there's not
• 48:00
  going to be you got a problem on your hands because nation states
• 48:03
  can accumulate vast amounts of Bitcoin both through using their
• 48:07
  currencies, using treasury and funds and resources.
• 48:11
  And don't forget, they can mine Bitcoin with vast energy
• 48:14
  resources. So now states have to figure out
• 48:17
  too shoot, we have to go get our scarcity piece and then
• 48:20
  endowment funds. This is why we're working so
• 48:23
  hard to get workers and wage earners to learn about Bitcoin
• 48:26
  because these things can happen very quickly.
• 48:29
  And if the United States does put any amount of Bitcoin in any
• 48:32
  kind of strategic reserve, it is going to tip off a global race.
• 48:37
  And you know, wherever you're at in that race, you just hope that
• 48:40
  you kind of did enough before that takes off.
• 48:43
  Amen, man. Beautifully, beautifully put.
• 48:45
  Opti, what's your take on this man?
• 48:48
  Endowments are now piling into Bitcoin.
• 48:51
  There's only 21 million. I think it's really important to
• 48:54
  to point out when Dom was talking about this, right nation
• 48:58
  states ability to just accumulate massive sums of
• 49:02
  Bitcoin. But remember, guys, there's only
• 49:04
  21 million there's I'll, I'll, I'll throw an an interesting
• 49:07
  stat for you guys out there. So there is roughly between 50
• 49:12
  to 60 million millionaires all around the world.
• 49:16
  There's 21 million Bitcoin. You could subtract 4, it's
• 49:19
  between 3 or 4 are speculate or are theorized to be lost.
• 49:23
  So really like 17 Bitcoin 17,000,000 Bitcoin to go around.
• 49:28
  Even if every millionaire wanted to buy just one, there literally
• 49:32
  isn't enough. Now introduce nation states into
• 49:37
  that discussion. You see where this is going.
• 49:39
  This is why Michael Saylor like literally doesn't care and says
• 49:42
  it's going up forever because. Sailor sits at home with
• 49:45
  anxiety. He's sitting there with an
• 49:46
  inhaler, like, OK, let's go. We got to smash, smash, smash,
• 49:49
  smash. You know, you know, you've been
• 49:51
  there. He keeps probably not even
• 49:52
  chilling. He's like, hey, how's it going?
• 49:54
  Nice to see you. Yeah, yeah, yeah.
• 49:55
  OK, like let's go another stack, another stack you.
• 49:59
  Know 100% opti? What's your take?
• 50:04
  Yeah. So not to kind of rehash the
• 50:06
  scarcity issue or the scarcity topic that you guys were talking
• 50:09
  about when I was kind of hearing this, It kind of goes back to
• 50:12
  the conversation we had a couple of minutes ago, this idea of
• 50:15
  Bitcoin being the least risky thing to own.
• 50:18
  And when you see pension funds or even unions or endowment
• 50:21
  start to look into Bitcoin, I'm starting to hear this idea that
• 50:25
  Bitcoin is, is becoming less risky in the eyes of people that
• 50:29
  usually want something that doesn't really involve any risk
• 50:32
  at all. And if that's not more signal
• 50:34
  for more people to kind of look at Bitcoin instead of a as a
• 50:37
  speculative asset or just an investment as something that you
• 50:40
  can hold long term. Like this is a signal, I think
• 50:43
  that most people should start to see in red flags or, you know,
• 50:47
  red lights, alarm light alarm signal should be popping off in
• 50:50
  their head. But it's like, OK, we talk about
• 50:52
  it constantly as Bitcoiners, as generational wealth, etcetera.
• 50:55
  And something that is like, we say it all the time, you know,
• 50:58
  Bitcoin is our stable coin. It's it's the only stable
• 51:01
  monetary network in the world, you know, 21 million hard cap,
• 51:04
  all that stuff. So when you see these
• 51:05
  institutions start to embrace Bitcoin, even if they're just
• 51:08
  dipping their toes into Bitcoin, I think that should be more
• 51:11
  signal for more people to kind of acknowledge the things we've
• 51:14
  been saying about Bitcoin for a long time.
• 51:16
  This is the safest investment to have or the best money to hold
• 51:21
  your purchasing power, etcetera. And now that we see these people
• 51:25
  that, you know, they're they're in the suits, they're they're
• 51:27
  the the most conservative people in the world, they're doing the
• 51:30
  most conservative investments in the world.
• 51:32
  And Bitcoin is starting to take that mind share.
• 51:35
  And so it's very interesting to see this happen.
• 51:37
  And I'm really more surprised that more people aren't catching
• 51:40
  on. Like individuals out there, I
• 51:42
  feel like are just I don't know what they're doing.
• 51:45
  I was kind of telling Dom this before the show, you know, like
• 51:48
  it seems that retail is still kind of asleep at the wheel
• 51:51
  right now, because you'd think that in the face of all the
• 51:54
  crazy stuff we've seen in the last couple years that they
• 51:57
  would start to look for an alternative to protect their
• 51:59
  purchasing power. But it doesn't seem like anyone
• 52:01
  either really cares or they just they just like the dopamine of
• 52:04
  complaining about the problems versus actually finding a
• 52:07
  solution, which of course, we would say is just, you know,
• 52:10
  start saving or DC ING in Bitcoin and hold it for the long
• 52:14
  term and secure it. And this is how you can protect
• 52:16
  yourself. So seeing the most conservative
• 52:19
  investors in the world start to embrace Bitcoin, it kind of
• 52:23
  makes our thesis like confirmed here, this is the best thing,
• 52:28
  this is the safest thing to be saving.
• 52:30
  And if you want to hold something long term, then
• 52:33
  nothing else comes close to Bitcoin.
• 52:35
  And so, hey, I, I just want to see more people start to start
• 52:39
  to save in Bitcoin, start to hold Bitcoin.
• 52:41
  And if this doesn't start to show people that this is what it
• 52:45
  is, then I, you know, it's, I hate to say it, but man, they
• 52:48
  get the Bitcoin at the price they deserve.
• 52:50
  Absolutely. That's a good point, Dom.
• 52:52
  Also, I see a lot of comments, you know, people, people are
• 52:55
  struggling and, and having a tough time keeping up with
• 52:58
  inflation, I think across multiple different, you know,
• 53:01
  industries. And I just want to give a
• 53:03
  reminder to folks that, you know, again, it's you can get
• 53:08
  lured into the price action of thinking like, how is Bitcoin
• 53:11
  going to change my life so drastically?
• 53:13
  For example, how am I going to go from someone that has 5000 in
• 53:17
  the bank account to having, you know, 20 million?
• 53:19
  And if I can't do that, I don't want to be involved in this,
• 53:22
  I'll find something else. You have to fight that because
• 53:26
  again, Bitcoin is a long term generational play.
• 53:30
  One of the things we tell the workers and the unions all the
• 53:33
  time is this isn't for you right now.
• 53:35
  This is for the next generation of workers.
• 53:38
  You know, Nico mentioned industries that are basically
• 53:41
  going extinct, whether it's Blockbuster or GameStop.
• 53:43
  Well, guess what? There's a lot of workers and the
• 53:46
  only thing they own right now is their own labor.
• 53:49
  And they are set to potentially be displaced by things like
• 53:52
  robotics, AI, automation. And so if that's the case and a
• 53:56
  worker looks at themselves as almost like a mini company, what
• 54:00
  do I have on the balance sheet? I have my labor stack a little
• 54:03
  bit of Bitcoin or learn about Bitcoin and you know, do your
• 54:07
  due diligence. But but like, don't be scared of
• 54:10
  having a little bit of that scarcity because scarcity is
• 54:13
  only going to continue. It's not going to become less
• 54:16
  scarce. It's only going to become more
• 54:18
  scarce. And the last thing, because I
• 54:19
  know I've been going, I think this next 10 year cycle is not
• 54:23
  about how much Bitcoin you can stack, it's about how much of
• 54:26
  your Bitcoin you can hold on to. The tests are going to be
• 54:29
  greater than ever. That could include selling too
• 54:32
  early, thinking that we're at the top of a bull market, but
• 54:35
  indeed we are not. It could be scare tactics from
• 54:38
  governments trying to force, you know, Bitcoin out of your hands.
• 54:43
  There is a lot of value into being able to hold on to what
• 54:46
  you can. I mean, ladies, gentlemen, you
• 54:49
  heard it. You heard it.
• 54:53
  It's it's all about how much Bitcoin you can hold on to in
• 54:59
  these next 10 years. I think that's a really, really
• 55:01
  good point. I mean, everyone thinks that
• 55:03
  they could time the bottom, they could time the top.
• 55:06
  But I've been telling you, I mean, I've been telling you
• 55:08
  guys, I've been doing this for nine years now.
• 55:11
  Nope, never happens. I've got the top, I've bought
• 55:14
  the bottom. Had no idea I was buying the
• 55:16
  top, had no idea I was buying the bottom.
• 55:18
  Best way is just dollar cost average stay humble stacks that
• 55:21
  stay solvent and that's how you get over the finish line.
• 55:25
  I want to give a shout out to the stream 2300 of you guys
• 55:29
  watching live between all platforms.
• 55:31
  Shout out to the YouTube audience.
• 55:33
  We broke 500 live viewers. I mean 530 to be specific, 210
• 55:38
  likes. So we're going to move up the
• 55:39
  like goal to 250 likes by the end of the show.
• 55:43
  So smash that like button if you guys are enjoying the live
• 55:47
  stream. Of course, shout out to the
• 55:49
  Rumble audience as well. Guys.
• 55:51
  We appreciate the Rumble audience and the X audience as
• 55:54
  well. Of course, the podcast audience
• 55:56
  that listens to us as well. You guys smash the like button.
• 55:59
  You guys are listening to Simply Bitcoin Live.
• 56:01
  We're about to hit the culture segment.
• 56:03
  We're going to be talking about Proof of Workforce and they
• 56:07
  launched a YouTube channel which you guys have to subscribe to.
• 56:10
  So guys, we're going to hit the culture segment.
• 56:12
  We'll be right back. I want to give a shout out to
• 56:15
  our sponsor Hive Digital Technologies.
• 56:18
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  Again, Compass Mining dot IO and see how Compass Mining can power
• 57:48
  your success. All right, everybody, we got Dom
• 57:54
  BAE in the House. Proof of workforce just got
• 57:59
  quote tweeted by the Bitcoin senator, Senator Cynthia Lummis
• 58:04
  absolutely massive. What is the massive
• 58:07
  announcement? The the big, I'll say it Dom, so
• 58:09
  you don't have to. What is the big breaking the
• 58:12
  breaking announcement? Yeah.
• 58:14
  So for folks just turning in, tuning in and turning in, the
• 58:18
  first law enforcement association in the United States
• 58:22
  has put Bitcoin on the balance sheet.
• 58:26
  It's out of Senator Cynthia Lummis's home state of Wyoming.
• 58:30
  It's the Wyoming Highway Patrol Association.
• 58:34
  Huge development. Again, if it's anything like we
• 58:38
  saw with firefighters, this will lead to more law enforcement
• 58:41
  associations and other unions and other areas of the public
• 58:44
  sector finding and learning about a tool that was designed
• 58:49
  for them. So huge development and a huge
• 58:54
  shout out to Senator Cynthia Lummis who said there, I can
• 58:59
  read it for you guys, but that is so cool.
• 59:01
  I think she said it better than we could.
• 59:03
  The goal with this stuff is to help Americans access tools to
• 59:06
  realize and protect the full value of their effort, their
• 59:09
  blood, their sweat, and their tears.
• 59:11
  Love to see Wyoming citizens who protect us, protected by
• 59:15
  Bitcoin. That's freedom focused
• 59:18
  innovation. Very excellently put.
• 59:21
  These are individuals that try to keep us safe on the highway
• 59:25
  and at times will risk their lives for our lives.
• 59:28
  And you know, now they have a tool in the fight to maintain
• 59:33
  that precious time. Every morning, that officer
• 59:37
  kisses his wife and kids goodbye, leaves the house, gets
• 59:41
  into a patrol car. And, you know, no one knows if
• 59:44
  that will be the last time they ever see their family.
• 59:47
  They go ahead and they contribute that time, that 8 or
• 59:50
  10 or 12 hours for that day for the benefit of folks.
• 59:53
  And they're paid in a currency that loses value as soon as it
• 59:58
  hits their pocket. What is that?
• 1:00:01
  It's not that's, you know, and it's becoming more of a problem.
• 1:00:04
  And so as Fiat erodes. These folks need a tool to to
• 1:00:08
  protect that time and energy. So I'm really happy that they
• 1:00:11
  found Bitcoin and yeah, we're just happy to be a small part of
• 1:00:15
  of the effort going on here. Hell yeah man, absolutely love
• 1:00:18
  that. Yeah.
• 1:00:20
  And just, Dom, for the people that came in a little late, I
• 1:00:22
  think it's pretty awesome to mention the fact of what you
• 1:00:26
  were saying earlier that it's no longer just firefighters.
• 1:00:28
  And I don't know if you want to tell people, you know, you're
• 1:00:30
  firefighter story or we just move it forward.
• 1:00:32
  It's like most of the unions that you've been talking to were
• 1:00:35
  firefighters and now first law enforcement.
• 1:00:37
  So it seems like the signal is spreading out and more people
• 1:00:41
  are starting to wake up to this. And it's going to be interesting
• 1:00:44
  to see how quickly the dominoes fall everywhere else.
• 1:00:46
  And of course, super interesting that this is happening in
• 1:00:49
  Wyoming where Senator Lummis, the, you know, the Bitcoin
• 1:00:51
  Senator is so incredible synchronicities here.
• 1:00:55
  Yeah, firefighters, right? They gravitated to Bitcoin very
• 1:00:59
  quickly. I'm going to do a shameless plug
• 1:01:01
  here if we're talking about the culture, but we did start a
• 1:01:04
  YouTube channel for proof of workforce and we just had 4-5
• 1:01:09
  firefighters basically that represent all of the firefighter
• 1:01:13
  unions in the country that are currently holding Bitcoin as an
• 1:01:16
  organization. So all of these people that were
• 1:01:18
  on this segment were Bitcoiners that brought Bitcoin.
• 1:01:23
  It's the firefighters choose Bitcoin one right there.
• 1:01:26
  We're ripping at 62 views. Shout out to everyone who's been
• 1:01:29
  viewing that and subbing and all that stuff.
• 1:01:31
  But these are these are Bitcoiners that brought Bitcoin
• 1:01:34
  to their organization, utilize proof of workforce as a
• 1:01:37
  resources, which is why we exist and then successfully navigated
• 1:01:42
  an initiative to where their their union added Bitcoin to the
• 1:01:46
  balance sheet. And all of them utilize some
• 1:01:49
  aspect of self custody, which is huge for us for them to learn
• 1:01:53
  about self custody. So there's a picture of an SCBA
• 1:01:57
  and I compared Bitcoin to an SCBA.
• 1:01:59
  So in what's called an IDLH environment, which is
• 1:02:03
  immediately dangerous to health and life, we wear these
• 1:02:06
  self-contained breathing apparatuses which protect us
• 1:02:09
  from the unknown flashovers, fire, things like that bad air.
• 1:02:14
  Bitcoin is very similar in a very hazardous financial
• 1:02:17
  environment. When you have Bitcoin, it
• 1:02:19
  protects the holder. So it's naturally that that that
• 1:02:24
  firefighters figured this out. Law enforcement folks will
• 1:02:27
  figure this out that Bitcoin is a protective tool like Senator
• 1:02:31
  Lummis. So perfectly put and on our new
• 1:02:35
  channel, if you do check us out, we're going to have, you know,
• 1:02:39
  me and Chris Alamo run a regular series on there called Rank and
• 1:02:44
  file Bitcoin podcast. We have the proof of workforce
• 1:02:47
  segment, which is going to be talking to a lot of people that
• 1:02:50
  are doing adopting Bitcoin and initiatives like the five
• 1:02:54
  firefighters or all kinds of different people that we come
• 1:02:56
  across in our work. And then we're also going to try
• 1:02:59
  to add some content from being on the road and talking to these
• 1:03:02
  unions and workers and and wage earners on our mission.
• 1:03:06
  So we're just getting started. Of course, huge shout out to
• 1:03:11
  Chris, Alemo and Jacob behind the scenes.
• 1:03:13
  And of course, simply that's been very supportive of us in
• 1:03:17
  the launch of this channel. We couldn't have done it without
• 1:03:19
  you guys. So any support we appreciate and
• 1:03:23
  we will keep high quality, high signal content.
• 1:03:26
  We always say signal over Subs unless we get an endorsement
• 1:03:29
  from Jersey Mike's. And if we do get sponsored by
• 1:03:32
  Jersey Mike's, we will put Subs if there are Italian Subs above
• 1:03:36
  the signal slightly. But we're going to really hold
• 1:03:39
  true to that, that Bitcoin signal and try to give you guys
• 1:03:43
  really good real time adoption. Absolutely, guys.
• 1:03:47
  So head over, we put a link to Dom's channel in the live chat
• 1:03:52
  and in the YouTube, in the YouTube description as well.
• 1:03:57
  So guys, go right now, subscribe to Proof of Workforce on
• 1:04:02
  YouTube, Dom's new YouTube channel with our boy Chris Alamo
• 1:04:07
  takes 2 seconds to subscribe. And I'm sure we'll, we'll,
• 1:04:10
  we'll, we'll send some people your way, dude.
• 1:04:12
  And one last thing for those that subscribe and share, this
• 1:04:15
  is how we actually are. A lot of unions here about us.
• 1:04:19
  We're not a huge nonprofit. We don't have much funds and
• 1:04:22
  resources. In fact, I sell fund the
• 1:04:24
  nonprofit mostly myself and so we don't have marketing budget.
• 1:04:29
  So by you guys subbing and sharing, this is how folks like
• 1:04:34
  the Wyoming Highway Patrol or the Humboldt Bay firefighters
• 1:04:38
  hear about our organization and mission.
• 1:04:41
  So really your participation and just sharing our content, you
• 1:04:46
  never know what's going to happen.
• 1:04:47
  You may share it with a family member who is part of some union
• 1:04:50
  that ends up adopting Bitcoin and then their members find
• 1:04:54
  Bitcoin because remember, it's not just a union.
• 1:04:57
  There's 220 Highway Patrol officers that are now showing up
• 1:05:02
  going, what did our union do and why did they do it?
• 1:05:05
  Should I be looking into this as well?
• 1:05:07
  And so it's really going to accelerate adoption to the
• 1:05:10
  people that need it. So again, you guys, all the
• 1:05:12
  listeners are pivotal for us getting our word out to other
• 1:05:17
  workers, wage earners and unions.
• 1:05:19
  Beautiful, beautiful. Hey, Wade, Dom, I have a
• 1:05:21
  question. I don't think I've asked you
• 1:05:23
  this before, but, and maybe you don't have the numbers here, but
• 1:05:27
  just to kind of like wrap people's heads around this, like
• 1:05:30
  how much capital is in like unions, right?
• 1:05:34
  A pension funds for unions. Do you have those numbers on
• 1:05:36
  hand like the OR just give people maybe a rough idea so
• 1:05:39
  people can understand like how big of a problem this actually
• 1:05:41
  is? For sure, absolutely.
• 1:05:43
  OK, So let's get pensions off the table and just understand
• 1:05:48
  that the addressable pension market market in the United
• 1:05:50
  States is like somewhere between 5:00 and $10 trillion.
• 1:05:55
  It's a wide throw because depending on what pensions you
• 1:05:57
  include in the metrics, but that's public, local and state
• 1:06:00
  pensions, right? Let's get that off the table.
• 1:06:03
  Separate now there's 17,000,000 roughly union members in the
• 1:06:08
  United States and it's actually growing because more people are
• 1:06:11
  unionizing every day. Those 17,000,000 members manage
• 1:06:16
  $29 billion of capital that's just for their organization.
• 1:06:20
  So for example, you know, the Wyoming Highway Patrol
• 1:06:24
  Association or some union, different union, they have money
• 1:06:27
  that they collect from members. They do things like take care of
• 1:06:30
  members, help out families, maybe they do events, maybe they
• 1:06:33
  have insurance, things that they help to get, whatever, whatever
• 1:06:36
  it is that they do. That capital is different from
• 1:06:39
  pension funds. So globally, which is we're also
• 1:06:44
  pushing into that, right. We got the Kenyan firefighters,
• 1:06:46
  we're the first association on the continent of of Africa,
• 1:06:51
  first fire organization, first in Kenya.
• 1:06:54
  We got the El Salvador firefighters.
• 1:06:56
  Globally there's over 200 million union members that
• 1:06:59
  manage who knows how many billions of dollars.
• 1:07:02
  So this is a lot of people out there.
• 1:07:04
  And again, these are circular economies that already exist.
• 1:07:09
  So a union collects dues from its members, it manages that
• 1:07:12
  funds, those funds stay within the union.
• 1:07:15
  No one ever gets cashed out. It's not a corporation where you
• 1:07:17
  go, you know, that stays in the organization and is
• 1:07:20
  redistributed to its members and for different things that the
• 1:07:24
  membership needs. So the circular economies are
• 1:07:26
  also already in place and this is a key thing that we're
• 1:07:29
  looking years out from now where Bitcoin can serve those groups
• 1:07:33
  as a mini circular economy. So there is a currency play as
• 1:07:38
  well here where it can be beneficial.
• 1:07:40
  We all know about BJ Dichter and the book he wrote about the
• 1:07:43
  truckers getting their their bank accounts frozen.
• 1:07:46
  But workers who may often go on strike, they need to be able to
• 1:07:50
  share value between each other. Once again, Bitcoin
• 1:07:53
  permissionless, unconfiscatable. Amazing.
• 1:07:58
  Beautiful. Yeah, man.
• 1:07:59
  You're doing Satoshi's work. And, you know, blue collar
• 1:08:03
  workers all around the world, all around the country, and
• 1:08:06
  hopefully this movement goes global are lucky to have you,
• 1:08:09
  man. And, you know, using Bitcoin as
• 1:08:12
  a tool to empower themselves and protect their work from currency
• 1:08:16
  devaluation, right? A lot of people have to
• 1:08:18
  understand is that inflation affects the lower middle classes
• 1:08:22
  the most. If you are very wealthy, you
• 1:08:25
  probably have the means to save in assets.
• 1:08:27
  If you save in assets, inflation actually pumps your bags.
• 1:08:31
  It pumps the price of assets. Technically.
• 1:08:34
  Like you can make a very solid argument that you're not getting
• 1:08:38
  wealthier, but you are getting wealthier on paper, right?
• 1:08:41
  So they don't really care. But if you are in the lower
• 1:08:44
  middle classes, right? And those tend to be the younger
• 1:08:47
  generations, also older people too.
• 1:08:49
  Like you're saving and earning in Fiat, right?
• 1:08:53
  And you know, 5% inflation, 10% inflation, 20% inflation is
• 1:08:58
  devastating to you. This is why you feel you can't
• 1:09:01
  get ahead. This is why you feel it's a rat
• 1:09:03
  race. This is why you can't afford a
• 1:09:04
  home. Like this is literally why,
• 1:09:06
  because the money is fundamentally broken.
• 1:09:09
  And I appreciate Dom for bringing awareness to this to a
• 1:09:14
  whole group of people that you know, you can make an argument
• 1:09:17
  or forgotten or better said or under appreciated for the
• 1:09:21
  extremely important work that they do.
• 1:09:23
  So guys, head over to Proof of Workforce at Proof of Workforce
• 1:09:29
  on YouTube. Subscribe to his channel.
• 1:09:32
  Check out our boy Chris Alamo. He's on there as well.
• 1:09:35
  Incredible work that these guys are doing.
• 1:09:37
  Go to proofofworkforce.org if you want to find out more.
• 1:09:41
  Dom, if you have any final words to the 2500 people currently
• 1:09:46
  watching live right now, what would they be?
• 1:09:49
  You know, Nico, it looks like they almost got to 250 likes.
• 1:09:52
  They definitely crossed 200. And you mentioned something, a
• 1:09:55
  rat race, which made me think. There's these two small mice
• 1:10:00
  swimming in a bowl of cream, and they're churning it and they're
• 1:10:03
  trying to get out until one of the mice, he dies.
• 1:10:08
  The other one continues to churn, and he turns the cream
• 1:10:12
  into butter, and then he climbs out.
• 1:10:15
  I'm that mouse. Bitcoin is that mouse.
• 1:10:18
  Come on, get on the mission. Oh man, it couldn't be an
• 1:10:25
  episode without with Dom without an impersonation.
• 1:10:29
  Absolutely great. We're about to break 250.
• 1:10:31
  We're 249 is a smash the like button.
• 1:10:33
  I'm going to move it up to 260. We're not ending the stream
• 1:10:36
  until it gets to 260 likes and I'm going to ask Dom Dom, what
• 1:10:41
  does Trump think about Bitcoin bro?
• 1:10:44
  Well, you know, it's, it's a very, it's a very special tool,
• 1:10:48
  OK. And, and you know, the
• 1:10:50
  chancellor, I knew the chancellor, I knew the
• 1:10:53
  chancellor very well. And he was on the, the brink of
• 1:10:56
  a second bailout, OK, for banks. And we're not going to take it.
• 1:10:59
  We're not going to tolerate. And your Bitcoin, it's going to
• 1:11:02
  go, it's going to do very well. It's going to do incredibly
• 1:11:05
  well. Your Bitcoin is going to, is
• 1:11:07
  going to soar like an American eagle very high.
• 1:11:10
  And you have Opti and Nico and they're going to keep working.
• 1:11:14
  They work, work very hard. They work much harder than even
• 1:11:16
  David Bailey, who works incredibly hard.
• 1:11:19
  He works very hard. So keep going, keep learning and
• 1:11:22
  and your Bitcoin is going to be a place of of refuge for you.
• 1:11:26
  You'll be good, I promise. Amazing, amazing.
• 1:11:30
  All right, we're at 257. Three more likes.
• 1:11:33
  So I'm going to ask Dom. Dom, do you have any other
• 1:11:36
  impersonations you know? I got some.
• 1:11:40
  I got some of the works. I feel like we have to save
• 1:11:42
  some. I have some wait.
• 1:11:43
  Wait, yeah you should save some. So guys, This is why you
• 1:11:46
  subscribe to proof of workforce so you can hear DOMS
• 1:11:49
  impersonations in regards to Bitcoin.
• 1:11:52
  Yeah, I got, you know, I got to, I got, I got to save some in the
• 1:11:55
  bag. So I'll keep working on some.
• 1:11:56
  I got a couple others, you know, but yeah, we, we always got to
• 1:12:01
  give the, the crowd some, some impersonations.
• 1:12:03
  Every time I come on here, I'm always packing 2 at minimum.
• 1:12:06
  And someone once said my eyes were, were look like Stallone's
• 1:12:09
  eyes. And I'll never forget that.
• 1:12:12
  Thanks. I'm going to, I'm actually going
• 1:12:14
  to go to Seoul soon to get the eyelid surgery.
• 1:12:16
  So you know, incoming, you know. Oh, man, that's hilarious.
• 1:12:21
  All right, guys, well, I want to give a shout out to our special
• 1:12:23
  guest Dom Bay from proof of workforce.
• 1:12:26
  We broke 200. We're at 264 likes.
• 1:12:28
  Appreciate the audience, guys. We love you.
• 1:12:31
  I'm your host. Nico is my legendary Co host
• 1:12:33
  Optimist Fields. Our guest for today, Dom go
• 1:12:35
  subscribe to their YouTube channel Proof of workforce.
• 1:12:39
  We're assembly Bitcoin live. This was February 12th, 2025.
• 1:12:43
  If you guys enjoyed the show, you know what to do.
• 1:12:45
  Smash the like button and consider subscribing if you feel
• 1:12:47
  like we provided you value. And we'll see you tomorrow for a
• 1:12:50
  brand new episode of Simply Bitcoin Live.
• 1:12:53
  Today's episode was brought to you by bitcoinwell.com, a
• 1:12:57
  Bitcoin only platform on a mission to enable financial
• 1:13:00
  independence. Damn y'all got beats?