Latest / Simply Bitcoin / Strategy is FORCING ALL The Bitcoin Out Of Circulation FOREVER! | EP 1476

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Strategy is FORCING ALL The Bitcoin Out Of Circulation FOREVER! | EP 1476 · Simply Bitcoin

• 0:02
  Bitcoin popped back above 70 K this morning, only hours after
• 0:07
  Michael Saylor took to Twitter and declared that we might have
• 0:11
  just seen the last Bitcoin crash ever, and that something
• 0:16
  fundamentally different is now driving Bitcoin's price.
• 0:21
  I think he's just talking about himself though, because he has
• 0:23
  bought over 45,000 Bitcoin in the past month.
• 0:27
  At today's price of 70K, that's about 1500 Bitcoin a day every
• 0:32
  day gone forever, or around $100 million.
• 0:36
  I don't think we understand what an unlimited bid means for
• 0:39
  Bitcoin, and it seems like Saylor himself has engineered
• 0:44
  this unlimited bid. And that's just one person, not
• 0:47
  even accounting for everyone else.
• 0:49
  And we got to remember the amount of newly mined Bitcoin is
• 0:52
  around 415 Bitcoin a day. To the real question, I've been
• 0:57
  saying this the last couple of weeks with this launch of
• 1:00
  Stretch STRC from Strategy. Has Michael Saylor fundamentally
• 1:05
  changed Bitcoin forever? It's truly, truly, I think I'm
• 1:10
  precedent to what we're seeing. And I know we've been talking
• 1:13
  about this the last couple of weeks and we're trying to wrap
• 1:16
  her head around exactly what this means for Bitcoin.
• 1:20
  But if this demand stays or even increases, I don't think we can
• 1:27
  fully understand what this means just from one company and one
• 1:31
  man alone. It it's truly incredible what
• 1:33
  we're seeing right now. But anyways, let me get into the
• 1:37
  story where I think it starts. And here's Sailor.
• 1:42
  He tweeted this, which he did get a little bit of Flack on
• 1:46
  this and I may not necessarily agree with the first sentence
• 1:50
  per SE. I think Bitcoin is winning and
• 1:53
  it will win. But to declare it has one, I
• 1:56
  think is is a big stretch even for sailor.
• 1:58
  But anyways, here's the tweet. He goes quote Bitcoin has one.
• 2:02
  Global consensus is that Bitcoin is digital capital.
• 2:05
  The four year cycle is dead. Prices now driven by capital
• 2:09
  flows bank and digital credit will determine bitcoin's growth
• 2:12
  trajectory. The biggest risk is bad ideas
• 2:15
  driving IO tragenic protocol law changes.
• 2:18
  I don't even know what that word means, but apparently it's like
• 2:20
  harmful changes to the Bitcoin protocol.
• 2:24
  So I had to learn a new world, a new word.
• 2:26
  I had to, you know, get the thesaurus out and find out what
• 2:31
  iotrogenic even means. But anyways, let's unpack this
• 2:35
  tweet a little bit. Again, as I said, I don't know
• 2:39
  if I would go that far out on a limb and say Bitcoin has already
• 2:44
  won. I think it will win.
• 2:47
  I think saying it has already won it kind of at least in my
• 2:51
  opinion, it makes us a little complacent.
• 2:54
  I think there's still a lot of work to go.
• 2:55
  So that's probably just my my pushback and on on that first
• 3:00
  part. Now, I think Saylor obviously
• 3:03
  having a little more insight than me being just a YouTube,
• 3:06
  just an average person watching the news just like you.
• 3:10
  It is interesting hearing it coming from Michael Saylor.
• 3:13
  Now, I know a lot of people aren't the biggest fans of
• 3:15
  Michael Saylor, but I think he's fundamentally changed the game
• 3:19
  with stretch and I can't I haven't even fully been able to
• 3:22
  wrap my head around what stretch actually means, but I'm going to
• 3:27
  give you guys all the numbers. The next part is, you know,
• 3:29
  global consensus on Bitcoin as digital capital.
• 3:33
  I think that one's pretty, you know, pretty self-serving.
• 3:37
  I, I think that one is pretty easy.
• 3:40
  I, I think everyone is starting to wrap their head around the
• 3:43
  idea that the world is going digital.
• 3:46
  Now. I would probably go further and
• 3:48
  just say it's the perfect money, digital money for the digital
• 3:50
  world. But digital capital.
• 3:52
  I think this is one of those framings, one of those
• 3:55
  rhetorical tools to it's almost like the digital gold meme.
• 3:59
  Remember we used to say digital gold for a long time and then it
• 4:03
  didn't really hold up so well throughout the years.
• 4:06
  It's still an idea, it's still kind of a meme so people can
• 4:10
  understand what Bitcoin is. I think he's using the same
• 4:14
  thing with digital capital so that the institution's
• 4:17
  institutional investor, they start to understand what Bitcoin
• 4:22
  is in a different context now. I think the big maybe splash
• 4:27
  here is him saying that the four year cycle was dead.
• 4:30
  If Nico was on the show today, he would be like he would.
• 4:33
  He would have already cut me off and be like, dude, the four year
• 4:35
  cycle's intact. What's he always say?
• 4:38
  The four year cycle's intact until it isn't Mike bro, that
• 4:42
  doesn't even make sense. Whatever I think him saying that
• 4:47
  the four year cycle is dead is it's pretty big.
• 4:49
  I think as of now, I, I think it's very clear you guys have
• 4:56
  seen me on the show. I was, I was in denial about the
• 4:59
  four year cycle. We've we've played out a four
• 5:03
  year cycle so far. But I think in the context of
• 5:07
  where we are, it is extremely interesting to have him say the
• 5:11
  four year cycle is dead because look, is this the last four year
• 5:14
  cycle? What did we are we starting to
• 5:18
  see the very end of the four year cycle, especially with
• 5:20
  what's going on with the Bitcoin price this morning?
• 5:23
  I don't know if you guys caught what Trump is tweeting and, and
• 5:27
  I don't mean to go into a tangent here, but I, I think
• 5:30
  it's a good, a good kind of moment to really dive into the
• 5:34
  macro contacts right now. Again, it was a holiday weekend
• 5:40
  and Trump keeps pushing back this deadline on Iran.
• 5:44
  Basically. I don't know if you saw the
• 5:45
  tweet, but he said something on the lines of he even was cussing
• 5:49
  on true social. You know, open the effing Strait
• 5:52
  of Hormuz or else we're going to bomb you into the stone ages.
• 5:55
  Bomb you. He literally said bomb you back
• 5:57
  to hell. And then he said like, praise
• 6:00
  Allah at the end. And that was at the absolute
• 6:03
  bottom of the Bitcoin price this weekend.
• 6:05
  And then we pumped the 70K. Now, the only reason I'm
• 6:08
  bringing this up is because we've been talking about Bitcoin
• 6:12
  in the context for a lot of many years now that when we finally
• 6:17
  see a decoupling moment where everything is crashing and
• 6:21
  Bitcoin pumps, that's when you start to take notice.
• 6:24
  Now, when the market's open or you know, they're, they're not,
• 6:28
  I think they're not fully open until tomorrow, if I'm correct.
• 6:32
  Let me let me double check that for you guys.
• 6:36
  No, sorry. I'm thinking of the, the Trump
• 6:40
  threat on Iran that that's ending tonight.
• 6:47
  You're seeing that Bitcoin, he's acting very strange right now.
• 6:51
  And I was actually having this conversation with a friend who's
• 6:54
  kind of in Bitcoin. He start, he's kind of new and I
• 6:57
  was kind of explaining to him, it's like, look, we don't know
• 7:00
  what's going on in the global macro economy right now.
• 7:05
  We wake up, we see a Trump true social post and there's a
• 7:11
  ceasefire. And then later on in the day,
• 7:14
  once the markets close, it's like we're going super hard on
• 7:17
  you. We saw something similar
• 7:18
  happened this morning. They're saying at least the
• 7:21
  official Trump administration is saying that there's a ceasefire
• 7:24
  on the horizon. Iran responded like there's no
• 7:27
  ceasefire. And so you're seeing this carrot
• 7:30
  and stick event going on where Trump says, hey, we're going to
• 7:34
  have a ceasefire. But then he's also saying that,
• 7:37
  like, at 8:00 PM tonight, if there is no potential
• 7:40
  breakthrough, then we're going to go in and bomb them very
• 7:44
  heavy. So you're seeing this dichotomy
• 7:46
  of like, hey, you know, take a deal or we're bombing you.
• 7:50
  So tonight's going to be very interesting to see what actually
• 7:53
  happens. I know a lot of people really
• 7:56
  like the Taco meme. You know, Trump always chickens
• 7:59
  out. So we might get a an extension
• 8:02
  on the ceasefire, this attack, or we might see tonight that we
• 8:08
  start bombing them. And that is where everyone is
• 8:12
  really sitting on their hands right now because we don't
• 8:15
  really know what's going on. There has been a general trend
• 8:20
  right now that if this war continues, and I'm not going to
• 8:23
  say forever war here, but if it just continues for another 2-3
• 8:28
  months, the potential effects that we're going to see in
• 8:31
  energy and oil prices are are going to be catastrophic.
• 8:35
  I saw Jamie Dimon this weekend basically say, hey, if this
• 8:38
  continues to go on, we might be in a global recession soon.
• 8:42
  So everyone sitting on the sidelines right now wondering
• 8:45
  what to do with the capital. It's like, are we going to enter
• 8:49
  a global recession if this war continues or is it over?
• 8:52
  No one really knows. But what we do know is that in
• 8:55
  the face of all this macro uncertainty, Bitcoin is inching
• 9:01
  up towards 70K. It hit 70K this morning.
• 9:03
  I think it was roughly around 698OR699 right before I started
• 9:07
  the show. So it's just where everyone's
• 9:10
  just watching what's going on. But I think if you're watching
• 9:13
  the Bitcoin price right now, and I know a lot of you say, hey,
• 9:15
  the Bitcoin price, like you guys always talk about the price,
• 9:18
  it's the most boring aspect of Bitcoin.
• 9:20
  I think in, you know, in the market that we're in, in a
• 9:23
  totally free market, price is signal and what we're seeing in
• 9:27
  Bitcoin right now, I think it's very interesting.
• 9:30
  So yeah, there are other interesting factors around
• 9:33
  Bitcoin, but I think the fact that Bitcoin has been this
• 9:37
  resilient in the face of general macro uncertainty in war, I
• 9:41
  think that is a lot of signal. Now I know a lot of people like
• 9:44
  to fight me on that, but I'm, I'm going to oh wow, look, my
• 9:48
  hair is crazy. I'm I'm going to hold to that.
• 9:50
  I, I think what we're seeing right now is super interesting.
• 9:53
  If Bitcoin starts ripping right now and we have general chaos in
• 9:57
  the world, geopolitical tensions, macroeconomic
• 10:00
  uncertainty and Bitcoin starts ripping, I think that's all the
• 10:05
  signal we really need. Obviously, now going further,
• 10:08
  this is interesting. Prices now driven by capital
• 10:11
  flows, bank and digital credit will determine Bitcoins growth
• 10:15
  trajectory. And I think this is where Saylor
• 10:20
  is almost patting himself on the back here with stretch.
• 10:25
  What we're seeing with stretch is truly a game changer.
• 10:29
  I believe the amount of capital it's attracting and I've been,
• 10:32
  I've been covering this for the last two weeks.
• 10:34
  Once we started to see how much capital is going into stretch or
• 10:38
  rather how much capital is interested in this stretch
• 10:43
  product. Again, the 11 1/2 percent
• 10:45
  return, it's unheard of and it seems like we're at the
• 10:50
  beginning of it really catching on.
• 10:52
  And I think with the amount of capital we've seen so far, if
• 10:57
  you multiply that, if there's, you know, more capital that gets
• 11:01
  attracted to this, if more investors start to understand
• 11:04
  what stretch is, this could really blow things wide open.
• 11:09
  I, I've been saying it and I know I'm maybe a broken record
• 11:14
  right now, but it really does feel like Michael Saylor again.
• 11:18
  Love him or hate him, it really does feel like he is single
• 11:22
  handedly ending this bear market by himself.
• 11:26
  Like he is putting the entire team on his back right now and
• 11:30
  it might have fundamentally shifted what we expect in a bear
• 11:35
  market, how long we should be in a bear market again, the general
• 11:39
  consensus is we'll probably be in a bear market for another six
• 11:42
  months. Towards the end of the year is
• 11:44
  when we'll start to see the either a complete bottom, a
• 11:48
  capitulation event and then the price kind of returning back up
• 11:51
  towards 100K. But again, and I don't want to
• 11:58
  do this because I've done it so many times in the last year and
• 12:01
  I've been wrong, but it really does feel like this time's a
• 12:05
  little different now with with this strategy stretch product.
• 12:09
  So and then the last part is, I think finally Sailor putting his
• 12:16
  hat in the rink with all of the consensus arguments, whether
• 12:22
  it's Knox versus Core, whether it's Quantum.
• 12:25
  I I think he's very clearly saying what a lot of Bitcoin
• 12:28
  developers are saying. It's like, yeah, there are
• 12:31
  threats on the horizon, but we don't want to rush anything
• 12:35
  here. So a pretty strong tweet just in
• 12:39
  and of itself from Sailor this weekend.
• 12:42
  I don't think we've seen him do a tweet like this probably ever.
• 12:47
  Now, you guys may, you know, Fact Check me.
• 12:49
  He's he's done very strong opinionated tweets in the past,
• 12:53
  but I think this one is a big one and I think he's starting to
• 12:57
  see what Stretch is doing and it's it again, the only way I
• 13:03
  can say it is like it really does feel like he's
• 13:06
  fundamentally changed the game now updating that we're not just
• 13:09
  going to be talking about a sailor tweet here.
• 13:11
  He actually did buy more Bitcoin.
• 13:14
  Here is him announcing it this morning.
• 13:17
  Strategy acquired 4871 Bitcoin for roughly $329 million at a 67
• 13:25
  point $7000 per Bitcoin as a 4-5 as of yesterday, the strategy
• 13:33
  now holds 766,970 Bitcoin acquired for roughly $58 billion
• 13:40
  at 75.6 K per Bitcoin. He's inching up towards that
• 13:47
  million that that million coins in by just by himself.
• 13:51
  Now this is another interesting little angle here.
• 13:54
  Sailor only needs 15,000 or 15.5000 more Bitcoin to surpass
• 13:59
  I bit that's not that much depending on what we see with
• 14:05
  the ETF. There has been some outflows
• 14:08
  with the ETF, which was kind of AI would say maybe a concern
• 14:14
  because the institution's getting a little scared they're
• 14:17
  selling. But we did see that this week,
• 14:20
  or at least, you know, as of this morning, the ETFs have
• 14:23
  stopped selling Bitcoin. So ETF outflows slowed to a halt
• 14:27
  last week and you know they're going to Kathy, what's ETF about
• 14:32
  to save the market because Arc is buying a lot of the Bitcoin
• 14:36
  ETF in one week, but I really want to go back to sailors buy
• 14:41
  here. That's just the general kind of
• 14:43
  institutional trends that we're seeing right now is that
• 14:47
  strategy, whether it's MSTR as you guys were telling me on the
• 14:51
  show last week, the common stock or stretch, Because when you
• 14:54
  look at these numbers from what I saw, about 70% of this 4871
• 15:00
  Bitcoin was just via the stretch product.
• 15:03
  That's why it's getting very interesting.
• 15:06
  It's like the amount of interest going to this stretch product,
• 15:09
  this fixed income product 11 1/2 percent returns.
• 15:13
  It's it's unprecedented. We've never seen anything like
• 15:16
  this before. Now here is Zynx.
• 15:18
  I really like his account. He's been doing very good work
• 15:20
  on Twitter shouts out the Zynx BTC and he goes very significant
• 15:25
  this one in the two week period strategy raised 329.9 million
• 15:29
  from stretch with funded the 4871 Bitcoin purchase.
• 15:33
  Another 144 million was raised from the common stock which was
• 15:37
  used for dividends and other costs.
• 15:38
  Yeah, Sailors sending Bitcoin to $1,000,000 again, that might be
• 15:44
  a stretch right now because a million, everyone I know, all of
• 15:47
  us were just like, can we just get back to 150 K, you know, win
• 15:51
  150K, Can we get back to 100K or sorry, we haven't even got to
• 15:55
  150 K, just can we get back to 100 at this point?
• 15:58
  Like how much longer are we going to have to go sideways in
• 16:01
  this bear market? I know right now the sentiment
• 16:05
  isn't frothy. It's it's not that fun.
• 16:08
  Or maybe it's a it's a faux pas to start talking about Bitcoin
• 16:13
  going to $1,000,000. Which is why I don't say
• 16:16
  currently that Sailor himself is going to send us to $1,000,000.
• 16:21
  That's why I keep saying it seems like Sailor might single
• 16:25
  handedly and the bear market before we all expect it.
• 16:29
  And I think that's a safer bet here.
• 16:32
  But of course we all know the general idea in Bitcoin is, you
• 16:36
  know, there's no single person that really affects Bitcoin in
• 16:40
  the grand scheme of things. But I don't think we understand
• 16:47
  what 100 million plus an infinite bid on Bitcoin really
• 16:53
  means. We've been talking about this
• 16:56
  idea of a silent infinite bid for over a year now, actually
• 17:02
  maybe over 2 years now. Ever since El Salvador, the
• 17:07
  First Nation state to go all in on Bitcoin, we've been kind of
• 17:11
  hinting at the this idea or rather maybe it's more we've all
• 17:14
  been speculating, we've all been hearing rumors that their
• 17:17
  sovereign nation states infinite bid going on and we haven't
• 17:22
  really been able to pinpoint it. We have been able to pinpoint
• 17:28
  that there is I wouldn't say it's an infinite bid coming from
• 17:31
  the ETFs, but there's been a constant buy pressure coming
• 17:34
  from the ETF. Now you could argue that maybe
• 17:37
  the ETFs aren't actually buying the Bitcoin that's that's been a
• 17:41
  popular idea. I think at this point we have
• 17:46
  figured out at least depending if you fully trust on chain
• 17:49
  metrics at the ETFs are actually acquiring all that Bitcoin.
• 17:52
  Now there is the other idea that was exposed last week that most
• 17:57
  of them are being held on Coinbase and from what we heard
• 18:02
  with GameStop and Coinbase, they are allowing Coinbase to
• 18:07
  rehypothecate their Bitcoin. So we don't know if that is the
• 18:12
  general trend for everyone custoding their Bitcoin with
• 18:15
  Coinbase, but I'm pretty sure we we can speculate that at least
• 18:23
  some of them are being re hypothecated.
• 18:25
  And I remember I brought this up last week.
• 18:29
  I remember who it was that said it was on April Fool's Day.
• 18:34
  It was on April 1st. So I wasn't really sure if this
• 18:37
  was an April First joke, you know, April Fool's Day joke, but
• 18:41
  it was Eric Weiss, Michael Saylor's best friend, literally
• 18:45
  the guy that orange pilled Michael Saylor, He tweeted it
• 18:49
  didn't seem like an April Fool's joke.
• 18:51
  He literally tweeted if it wasn't for all the
• 18:52
  rehypothecation in the system currently, we'd be at 250K.
• 18:56
  And the only indicator that I have that he wasn't just doing
• 19:00
  an April Fool's joke is people were commenting on it and he was
• 19:05
  responding in in full seriousness, like, yeah, there's
• 19:08
  a lot of rehypothecation going on.
• 19:09
  So I don't know what he knows. I don't know what, you know,
• 19:14
  backroom conversations He's having to fully 100% with 100%
• 19:21
  confident confidence say there is re hypothecation happening.
• 19:26
  But what we do know is that Saylor has said in the past that
• 19:31
  exchanges and banks have come to him and talk to him about, hey,
• 19:36
  let's use your Bitcoin to re hypothecate it.
• 19:38
  And he's like, no, he basically said, look, I I've been getting
• 19:42
  offered deals to get insane returns, but the the hinging
• 19:48
  property of that is they're going to re hypothecate my
• 19:52
  Bitcoin. So these are two data points.
• 19:54
  Yes, they're, you know, friends, they're similar, but I think
• 19:57
  since they move in a different Bitcoin circle than I do, I
• 20:01
  think they're probably actually having these conversations.
• 20:04
  I think it's very safe to say. There is rehypothecation
• 20:08
  happening in system. There is rehypothecation, well,
• 20:11
  obviously in the system, in the grand system, in the Tradfi
• 20:13
  system. We know this is for a fact, but
• 20:16
  I think we can all admit, maybe begrudgingly, that there is
• 20:22
  rehypothecation happening with Bitcoin.
• 20:25
  And they're not the only person. I, if I remember correctly, I
• 20:28
  think Caitlin Long said it and maybe even Kathy Wood said it,
• 20:31
  but it's all a blur at this point.
• 20:35
  So we don't know necessarily what's going on with all the
• 20:39
  Bitcoin held in Coinbase, but what we do know is that on chain
• 20:44
  metrics are saying that the ETFs are actually buying Bitcoin.
• 20:49
  This is definitely a, you know, trust but verify moment.
• 20:55
  So from all we can tell is they are acquiring that million plus
• 20:59
  Bitcoin into the ETFs. There is an actual interest from
• 21:03
  institutional investors to acquire the Bitcoin ETF.
• 21:07
  But on top of that, what we're seeing from strategy, it really
• 21:12
  does seem like Stretch has found the perfect market fit.
• 21:19
  If this continues every single day and goes even higher.
• 21:27
  What does $100 million infinite bid a day mean?
• 21:32
  What does a 1500 Bitcoin buy from one entity mean?
• 21:39
  When we're starting to see that most sellers are exhausted,
• 21:43
  we're we're not really seeing that much selling happen
• 21:46
  anymore. Yes, there is instances of
• 21:49
  selling happening, especially coming from a lot of the Bitcoin
• 21:53
  treasury companies. So it it is an interesting kind
• 21:56
  of dichotomy of what we're seeing right now that some of
• 21:59
  the smaller Bitcoin treasury companies, a lot of the Bitcoin
• 22:03
  miners, the public Bitcoin miners are selling a lot of
• 22:06
  Bitcoin. And then we have strategy
• 22:10
  Metaplanet. And we also saw this morning
• 22:12
  that Strive, another Bitcoin treasury company, they just
• 22:16
  started to buy Bitcoin again. Now obviously it's not as big as
• 22:19
  sailor, I think sailors attracting the most amount of
• 22:22
  capital, but we did see a sort of significant buy come from
• 22:26
  Strive and I think they will probably increase this.
• 22:30
  So here's Matt Cole again. This isn't, you know, 5000 coins
• 22:34
  being bought up, but that's why I think putting what Sailor is
• 22:39
  doing with MSTR, the common stock and stretch in context of
• 22:44
  what's going on, it's really, it's just incredible.
• 22:50
  So here's Strive, they acquired 113 Bitcoin for, you know, a
• 22:54
  measly $7.7 million. Obviously for any one of us as
• 23:01
  individuals, that's a significant buy.
• 23:03
  Like, yeah, in the context comparing what Strive just did
• 23:08
  with what strategy is doing, it seems small.
• 23:12
  It's it, you know, it pales. Is it, is it pales in
• 23:15
  comparison. I don't know.
• 23:16
  You guys know. I, I can't do, I don't even
• 23:19
  know. I can't even think of the word
• 23:20
  right now. I didn't get much sleep last
• 23:22
  night. I, I, dude, I couldn't sleep
• 23:24
  last night for some reason, so my brain's hardly working.
• 23:27
  But again, last week, what did we see?
• 23:30
  We saw Metaplanet do a big buy. We're seeing strategy, just
• 23:36
  buying thousands of Bitcoin a day.
• 23:39
  He's literally bought 45,000 Bitcoin in the last month.
• 23:44
  Now obviously that doesn't necessarily mean this is going
• 23:46
  to continue every month, but the idea is if it does and it
• 23:51
  increases more, what does that mean for this bear market that
• 23:55
  we're currently in? I think now we can all agree
• 23:58
  that we are actually in a bear market.
• 24:00
  I I think we've all gotten to the point, yeah, we're in a bear
• 24:02
  market. OK.
• 24:04
  Now the real question is how long is this bear market?
• 24:07
  Now I've been proposing different theories here on the
• 24:10
  show. We have the kind of the Nikko
• 24:15
  traditional four year cycle view that we got to survive for the
• 24:19
  next 6 months, that Bitcoin will probably bottom sometime before
• 24:23
  October and then the price will start to rebound after October,
• 24:27
  at least again, historically, based on a time constraint or a
• 24:31
  time context, that's what a traditional four year cycle will
• 24:35
  look like. The other little wrinkle I put
• 24:38
  in is if you're pricing Bitcoin and gold, we've already been in
• 24:43
  a, in a bear market for a long time and usually Bitcoin priced
• 24:47
  in gold bear markets around 14 months.
• 24:51
  Well, we're, we're, we're past that.
• 24:54
  I was looking at the Bitcoin gold chart this morning and we
• 24:58
  got a pretty strong rebound. It almost, you know, I'm not not
• 25:03
  going to sign it, but it almost looks like a bottom has been
• 25:07
  formed on the Bitcoin priced in gold chart.
• 25:11
  Now, if you look at the just Bitcoin and dollars chart,
• 25:16
  depending on where you're what you're looking at, you could
• 25:21
  argue that maybe the bear market is going to be more of a
• 25:25
  traditional bear market. Maybe it's not going to be until
• 25:29
  October until it bottoms. It could just be a three or four
• 25:32
  months bear market like a more traditional macro assets bear
• 25:36
  market usually is. And the only thing that really
• 25:41
  gives you an idea or an inkling of that maybe being the case is
• 25:45
  because of the institutional capital that is interested in
• 25:48
  Bitcoin. I've been saying this.
• 25:50
  I think we've all kind of acknowledged this actually.
• 25:52
  Someone in the chat, I forget who it was last week, it was
• 25:56
  Thursday or Friday. They, they were kind of trolling
• 26:00
  us. They're like, dude, they're not
• 26:03
  even buying Bitcoin. And I respond, I'm like, I just
• 26:06
  don't think that any of our buys, whether it's me, whether
• 26:10
  it's the whole simply Bitcoin crew, whether it's you guys that
• 26:13
  watch Simply Bitcoin and hang out with us in the chat or
• 26:17
  whether it's the Bitcoin plebs out there that just the hardcore
• 26:21
  Bitcoiners that are DCA ING. I don't think the amount of
• 26:25
  capital that we can collectively attribute to buying Bitcoin has
• 26:31
  any effect on the price at all anymore.
• 26:34
  And that's basically what Sailor said in this tweet to refresh
• 26:38
  you. He said price is now driven by
• 26:40
  capital flows. That would be ETFs, that would
• 26:46
  be MSTR common stock. That would be stretch, that
• 26:51
  could be some silent nation state acquiring Bitcoin.
• 26:56
  That could be sovereign wealth fund.
• 26:58
  Again, when you think of the context of how big those capital
• 27:03
  markets are, how big those investors are, how big these
• 27:06
  institutions are, our Dcas mean nothing.
• 27:11
  Where, you know, we're pimples on the butt of of this
• 27:16
  rhinoceros. Is it rhinoceros?
• 27:18
  I can't even say it rhinoceros, there's rhino.
• 27:23
  What we put into Bitcoin right now I don't think has any effect
• 27:27
  on where the price is going. That's why I think what Saylor
• 27:32
  has done is doing with the Stretch product.
• 27:35
  This 1500 Bitcoin buys a day at least at 70K.
• 27:41
  You know, I'm just rounding up here or $100 million a day.
• 27:49
  And if that increases, if it literally gets to a billion
• 27:52
  dollars a day of capital being attracted to stretch, what does
• 27:58
  that mean? I think it's like very simply,
• 28:04
  this is not, this is not the same bear markets that we've
• 28:06
  seen in the past. Now, obviously 2020, you know,
• 28:11
  hindsight and all that good stuff.
• 28:12
  We won't know until we are looking back in, in, in time and
• 28:17
  being like, Oh yeah, this was the fundamental moment that
• 28:20
  changed everything, or at least changed what we know a four year
• 28:24
  cycle to be what we know the Bitcoin price movements to move
• 28:29
  like, but it does seem like 1. There's not that many Bitcoiners
• 28:37
  here in the sense of the only bit corners that are here
• 28:40
  currently are people that have been in Bitcoin.
• 28:43
  We don't, we haven't seen retail FOMA.
• 28:45
  I think retail is completely cooked.
• 28:47
  I, I'm, I actually, I'm, I'm going to, I'm going to, to jump
• 28:51
  off a little bit of what British huddle said on Twitter.
• 28:53
  I wanted to cover it last week, but you know, things get kind of
• 28:57
  crazy and it really does seem like retail is done, like retail
• 29:02
  no longer is going to have the effect on the Bitcoin price as
• 29:07
  we've seen in the past. And further, I'll I'll make my
• 29:10
  case as to why I think retail is just completely zoned out.
• 29:15
  They just completely don't care. I'll do that later, but one
• 29:18
  thing's for sure, with this new era, you know, we could say that
• 29:23
  maybe we're getting out of the early adopters or the early
• 29:27
  adopting phase era is coming to an end and we're starting to see
• 29:31
  the early majority phase. What does that mean in the
• 29:34
  context of what we're seeing right now with the amount of
• 29:37
  capital coming into Bitcoin that the early majority is going to
• 29:40
  be from these institutions, whether we love them or hate
• 29:42
  them. Whether you're against the big
• 29:45
  banks or you're against Wall Street, you're against nation
• 29:50
  states buying Bitcoin, you're against holding a Bitcoin stock.
• 29:56
  The capital that they are attracting is dwarfing what our
• 30:01
  measly spot Bitcoin buys combine could ever do right now.
• 30:08
  I don't think retail is moving, pushing Bitcoin's price, which
• 30:12
  as we've seen in the last couple of months, there's been this big
• 30:17
  conversation, at least I've seen it in the chat where it's like,
• 30:19
  look, you're seeing all of these buys.
• 30:23
  Like how come the price isn't going up when sailors buying
• 30:26
  this much Bitcoin? Well, once we saw the data, we
• 30:29
  find out there's been a lot of selling, whether it was last
• 30:32
  year from OG selling at 100K to liquidation events on Binance or
• 30:38
  glitches on Binance, to the amount of Bitcoin that is being
• 30:44
  sold from public Bitcoin treasuries, specifically from
• 30:47
  the Bitcoin miners transitioning from a pure Bitcoin mining play
• 30:51
  to a more AI play. Sailor, even though he's buying
• 30:56
  all of the Bitcoin, like literally by himself, if you're
• 31:00
  selling Bitcoin, you're selling it to Sailor at this point.
• 31:02
  Basically, he hasn't been able to alone buy more than all the
• 31:13
  Bitcoin that's been sold. But what we're seeing right now,
• 31:16
  which is the most interesting aspect of this, is it does seem
• 31:19
  like the selling is getting to a point where it, it's starting to
• 31:24
  almost die down. Like I think all the sellers
• 31:27
  that will have wanted to sell have probably sold most if not
• 31:31
  all of their Bitcoin. Especially when you put into
• 31:35
  context the idea that remember the suit coiner meme?
• 31:41
  We, we were all talking about this last year that we've all
• 31:43
  became suit coiners. You guys used to troll us.
• 31:45
  You know that Opti and Niko need to wear suits on the show.
• 31:48
  Wear suit coiners now the institutions are here.
• 31:51
  We got to clean up our act. We got to be more professional.
• 31:53
  We got to wear suits now, bro. Well, what happens when a quote
• 31:58
  suit coiner buys Bitcoin? They're more traditional.
• 32:03
  They look at more of the macro factors and that's why I think
• 32:07
  there's been a very strong correlation with Bitcoin and
• 32:10
  macro geopolitical tensions is because the suit coiners are
• 32:14
  here. That much we know.
• 32:17
  And the SU coiners are totally listening to what Jerome Powell
• 32:21
  from the Fed is saying. They're totally watching whether
• 32:23
  there's going to be rate cuts. They're totally watching whether
• 32:26
  we're going to be in a prolonged war in the Middle East.
• 32:29
  They're totally watching what's happening with oil prices, that
• 32:32
  general uncertainty, that general fear and doubt of what
• 32:36
  is going on in the macro landscape, the geopolitical
• 32:39
  landscape. If they're holding Bitcoin,
• 32:43
  well, they probably view Bitcoin as a risk on asset.
• 32:49
  So that's why they sell it. When they see all this stuff
• 32:52
  that freaks them out. Because currently from all the
• 32:55
  data I'm seeing, most people are sitting in cash right now
• 32:58
  because they just don't know where to deploy their capital.
• 33:01
  But at a certain point you will start seeing that people will
• 33:05
  have an increased appetite for risk on assets.
• 33:08
  And even though I disagree with this idea that Bitcoin is a risk
• 33:12
  on asset, I fundamentally view it as a risk off asset.
• 33:15
  If it's not connected to the traditional financial system, to
• 33:18
  me, it's a parallel system. That means it's risk off.
• 33:21
  It's yes, currently it does interact.
• 33:25
  There is some correlation with macro signals.
• 33:27
  And what Bitcoin is doing is because it's maturing, it's
• 33:29
  tiny. It's, I don't even know what the
• 33:31
  market cap is today. It's like 1.
• 33:33
  You know what, maybe we're back to 1.4 trillion.
• 33:35
  It's that's that's literally nothing.
• 33:39
  There's Wall Street institutions that hold, you know, 10 times
• 33:42
  more capital than Bitcoins entire market cap.
• 33:45
  From my opinion, I think Bitcoin is bigger than any single entity
• 33:51
  on Wall Street and it's still smaller in terms of market cap.
• 33:55
  If what we're seeing from sailor and stretch continue and not
• 34:00
  only continue like in a neutral sense, but increase.
• 34:05
  I don't I don't know what this really means for the for the
• 34:07
  bear market. I don't know what it means for
• 34:10
  the price, but I can fundamentally tell you that it's
• 34:15
  it's going to be a game changer. I don't know.
• 34:18
  I'll I'll check your comments in the chat.
• 34:21
  I just realized I've been ranting for 35 minutes.
• 34:24
  All right, wow, that's crazy. All right, all right, guys, So
• 34:27
  I'm going to keep it moving. I saw a a awesome clip from Lynn
• 34:31
  Alden on Peter Mccormick's podcast.
• 34:33
  It's a short clip. It really makes me think of the
• 34:36
  conversation that Nico and I have had on the show the last
• 34:40
  couple of weeks. You know, Nico says, like,
• 34:42
  finally there's uncertainty in the system.
• 34:44
  And so that that's when I play this clip.
• 34:46
  That's the context. I'm going to be talking about
• 34:49
  it. And then we have an update on
• 34:51
  the Clarity Act. I know guys, I'm just as tired
• 34:54
  about talking about the war in the Middle East and the Clarity
• 34:56
  Act. But we do have a new update over
• 34:59
  the weekend tentatively, maybe something good soon.
• 35:05
  We'll talk about that. And then like I said, I saw an
• 35:08
  interesting British huddle tweet and I generally agree with with
• 35:15
  the with the tweet. So that's going to be today's
• 35:17
  show. I'll be right back after first
• 35:19
  commercial break and I'll, I'll check in the chat and see what
• 35:22
  you guys are saying. Quick break.
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  stampseed.com store. Wow guys, I'm I'm surprised you
• 37:39
  you guys were agreeing with me a lot in the chat.
• 37:43
  I'm sorry, sorry my phone was blowing up.
• 37:46
  What a day it's a Monday. It's a Monday and you guys
• 37:49
  aren't yelling at me. It's this is a good Monday.
• 37:51
  I'm I'm feeling OK and also guys, forgive me, we need to
• 37:56
  figure out the AC in the studio. I am dying in here.
• 37:59
  It is unfathomably hot in here. Anyways, the current Bitcoin
• 38:05
  price is 69,420. Wow, 69420.
• 38:10
  Let's go. All right, meme, meme magic is
• 38:13
  real. And the discount from all time
• 38:17
  high is 45% currently. OK, we're not at 1.4 trillion
• 38:20
  yet. We're at 1.39, but close enough.
• 38:24
  We're close enough. And the current block height is
• 38:26
  943,939. So as I was saying, I saw this
• 38:35
  clip Easter Monday. We're still on good behavior.
• 38:39
  For real. It's early.
• 38:43
  OK, I spoke to you soon. Sorry.
• 38:45
  I was feeling I was feeling myself.
• 38:47
  I saw this clip from Lynn Alden on Peter McCormick and the
• 38:53
  question is basically can Bitcoin fix the system?
• 39:02
  And I think from a hardcore Bitcoin, you know, Bitcoin only
• 39:06
  Bitcoin maxi perspective, I think we all are like, yeah,
• 39:09
  it's going to. But one, I don't really think
• 39:14
  there's new people watching the show right now.
• 39:16
  I think it's all us Bitcoiners like it.
• 39:18
  You, the people that have been hanging out with us, you guys
• 39:21
  are in the chat. It's you guys know it's the same
• 39:23
  people basically every single day.
• 39:24
  And I think the only people watching Bitcoin content are the
• 39:26
  same people. So I, I do want to talk about
• 39:29
  this a little bit with the hope that there might be new people
• 39:32
  out there because I literally had this conversation yesterday
• 39:35
  with someone that is, I would say relatively a new bitcoiner.
• 39:40
  He was asking me like what's going on?
• 39:42
  You know what, what do I think is going to happen, etcetera,
• 39:44
  etcetera. And usually the, the main
• 39:47
  question for most people is this idea of them not truly believing
• 39:51
  in Bitcoin. I think we all truly believe
• 39:54
  Bitcoin will fundamentally change the world, change the
• 39:56
  system. It's just going to take time.
• 39:59
  But Peter McCormick was asking Lynn Alden this question and it
• 40:02
  made me think of a conversation that Nico and I had on the show.
• 40:05
  So let me play the clip and then I'll give you guys the context.
• 40:10
  Current system is broken. If the money is broken, could
• 40:13
  Bitcoin? Be a system that replaces it.
• 40:16
  I think it has the properties where it could, it would have to
• 40:20
  be much, much larger than it is now and that would dampen the
• 40:23
  volatility. But really there's nothing that
• 40:26
  would prevent it from working other than people.
• 40:32
  I mean, it's, if you look at, I mean the, the way it scales,
• 40:36
  Bitcoin can do about as many transactions per year as
• 40:40
  Fedwire. So as the US centralized system,
• 40:43
  it does about as many transactions per year ironically
• 40:45
  as Bitcoin and it yet it settles and it sounds like a fake
• 40:49
  number, but a quadrillion dollars a year and settles on
• 40:52
  the Fedwire system. And of course on top of that you
• 40:56
  have all the, the bank system and things like that.
• 40:59
  And so Bitcoin has the capability to scale through
• 41:01
  layers. Those, those layers have already
• 41:03
  been developed. You know, there's, there's
• 41:05
  always kind of more research being done, but there is a
• 41:08
  layered stack that works. And it would I don't think
• 41:14
  people would turn to it until the existing systems fail, or at
• 41:17
  least like an ET mass. I mean, obviously early adopters
• 41:20
  do, but yeah, it's a it's a functional system that that can
• 41:24
  work instead of a centralized Ledger.
• 41:27
  At least at least 17 years of history shows us this.
• 41:30
  Think we need more time to prove it, but so far it's working.
• 41:34
  I can agree more and the only reason I I played this clip
• 41:40
  because I'm sure for you guys, especially since it really feels
• 41:45
  like I've, I know every single person that's hanging out in the
• 41:47
  chat with us and has been hanging out with us constantly
• 41:50
  and as I say all the time, truly appreciate every single one of
• 41:54
  you guys. You guys are the real MVPS out
• 41:56
  there that hang out with me every day that told me that, you
• 41:59
  know, applaud, you know that that'd say nice things every
• 42:02
  once in a while. So this might not be a new
• 42:07
  message. You probably already heard this.
• 42:09
  We, we all know when you come into Bitcoin, if you start to
• 42:12
  look into the technicals, you hear the same thing.
• 42:13
  It's like, oh, Bitcoin does what, three to seven
• 42:16
  transactions a minute or you know, an hour?
• 42:19
  I, I forget what the meme is. I'm so far down the rabbit hole
• 42:21
  at this point that I forget what they even say 'cause I just
• 42:24
  ignore them really. But when you compare apples to
• 42:27
  apples, we're not talking about Bitcoin on chain transaction
• 42:32
  layer one transactions compared to Visa and MasterCard
• 42:36
  transactions. It's really final settlement
• 42:38
  like Lynn Alden was explaining with Fedwire.
• 42:40
  Now, that's not the conversation I want to have.
• 42:43
  I think I think we've all heard that before.
• 42:46
  But while I was watching this clip, it reminded me of
• 42:49
  something that Nico said on the show.
• 42:52
  And I, I know you guys have been giving Nico some shit recently.
• 42:55
  You know, I'm, I'm, I'm aware. And I, and I give him shit too,
• 42:58
  OK. And, and then, then he'll see
• 43:00
  the chat and he'll every once in a while be like, oh, everyone
• 43:03
  doesn't hate me. OK.
• 43:06
  But anyways, the only reason I'm bringing that up is because Nico
• 43:09
  said something. He's actually said it a few
• 43:11
  times. He said something on the lines
• 43:14
  of, you know, he's excited right now with where we currently are
• 43:19
  in Bitcoin because the uncertainty is back.
• 43:24
  And I usually let him go a little bit.
• 43:27
  But you know, like you guys always joke and Nikka needs to
• 43:30
  cut or Opti needs to cut off Nikko because Nikko cuts off
• 43:32
  Opti. But you know, I that's just not
• 43:36
  how I roll. I let people say what they want
• 43:37
  to say and then eventually I'll probably circle back and we'll
• 43:41
  talk about that. But anyways, the reason I saw
• 43:45
  that clip and it reminded me of what Nikko said with why he's
• 43:50
  so, so excited right now, because there is so much
• 43:53
  uncertainty in the system right now.
• 43:55
  It really made me think on this idea of like, I am personally
• 44:02
  not uncertain at all about Bitcoin, the network.
• 44:07
  Like I think Bitcoin is working. It has been working.
• 44:12
  It's been working as designed for the last 17 years now.
• 44:16
  I know there has been this whole idea of, you know, spam of core
• 44:21
  versus knots of recently in the last week they are recycling the
• 44:26
  quantum computing FUD. And so you're starting to see
• 44:29
  that there is this idea of planting uncertainty in your
• 44:33
  head of why maybe Bitcoin doesn't work how we thought it
• 44:36
  was. But personally, I don't, I don't
• 44:40
  think that. And I think for a lot of us in
• 44:42
  the chat that hang out, a lot of us bit corners that have been
• 44:44
  doing this for a long time, like we don't have an uncertainty
• 44:47
  about Bitcoin the network working as designed.
• 44:52
  I think when Nico says that the idea is more of like we, I think
• 44:57
  we might be more uncertain than ever about where the price is
• 45:00
  going, but a general uncertainty about Bitcoin, the network.
• 45:04
  I, I don't think that that's the case and I think Lynn Alden
• 45:07
  explained it very well. Like the network's been working
• 45:11
  as designed for 17 years now. The one thing that I guess could
• 45:18
  break Bitcoin is people. And when I heard that, it's
• 45:23
  always this idea of like the only doubt I really have guys in
• 45:27
  regards to Bitcoin is not the network itself.
• 45:31
  It's about just maybe there's just a general uncaring for what
• 45:38
  Bitcoin is. I've said this on the show.
• 45:41
  Maybe I know personally I overestimated how little the
• 45:48
  average person cares about the things that we care about.
• 45:51
  About freedom, about sovereignty, about our
• 45:54
  purchasing power, about not getting debased, about
• 45:59
  censorship resistant transactions.
• 46:02
  I, I think we all overestimated just how little the average
• 46:06
  person cares about that. All they care about is
• 46:07
  convenience. All they care about is like, you
• 46:10
  know, the shiny new thing, the current thing.
• 46:16
  But I don't think that as a bitcoiner, once you understand
• 46:22
  it, you have a general uncertainty about the network.
• 46:26
  I do have that fear, that doubt that maybe people just won't
• 46:30
  care. Maybe people just don't care.
• 46:33
  It's not won't. Maybe they just don't care, and
• 46:35
  what would be the reason for them to care?
• 46:38
  Leon says. Maybe we need to just see the
• 46:40
  system completely collapse, maybe on in a more positive
• 46:44
  sign, you know, positive spin. Maybe it's just the iPhone
• 46:47
  moment. Maybe people just need to use it
• 46:50
  Bitcoin in a way that they don't even know they're using Bitcoin.
• 46:52
  They just know it's benefiting their lives.
• 46:55
  And I've been, I think I've been on this beat this idea for years
• 46:59
  at this point. I'm like, look, if we're honest
• 47:03
  and if we are in this moment where we're going from the early
• 47:07
  adopters into the early majority, well, maybe the
• 47:11
  Bitcoin narratives or the Bitcoin orange pill that created
• 47:17
  you as a Bitcoin isn't going to work the same on other people.
• 47:20
  And maybe part of this whole process now in the bear market
• 47:23
  and from here on into, I don't know, the next 10 years or so,
• 47:28
  is US understanding that maybe the things that got us
• 47:32
  interested in Bitcoin isn't going to get the next million,
• 47:35
  ten million, 100 million people into Bitcoin.
• 47:38
  And I think that's all right. I don't think that that
• 47:40
  necessarily means that Bitcoin loses all the things that we
• 47:44
  love. I know there's been a general
• 47:46
  idea that Bitcoin is losing its cypherpunk roots as it grows up,
• 47:50
  but I don't think that that's the case.
• 47:53
  I don't think there's a fundamental uncertainty about
• 47:55
  the network at all. I think we're more uncertain
• 47:58
  about where the price is going. I mean me and Nick are on the
• 48:01
  show every day and we're arguing whether four year cycle's
• 48:04
  intact, whether we're going to go down to 40K, whether we're
• 48:08
  going to go side with whether sailors fundamentally changing
• 48:10
  the price of Bitcoin, fundamentally changing the how
• 48:14
  Bitcoin moves the growth trajectory.
• 48:19
  And I think actually on another side note and touch people don't
• 48:26
  care. Yeah, that's true.
• 48:27
  That's that is actually very true, though, bro, I don't know.
• 48:32
  I mean, I I agree with you, though, a total different
• 48:37
  tangent. You guys know our our friend
• 48:40
  Luke Mikic YouTube stupidly bullish, has a funny accent, has
• 48:44
  funny hair, super good guy. If you guys watch him on
• 48:48
  Twitter, he's got like this very huge disdain for the power law.
• 48:56
  And the general idea is that Bitcoin growth, its trajectory,
• 49:04
  its price movements are going to move in this systemic growth
• 49:11
  rate that, oh, in 20-30, you know, only 5% more people are
• 49:16
  going to adopt Bitcoin. And I, this is the only like,
• 49:20
  I'd like the power law, sort of, I'm not the biggest power law
• 49:23
  guy, but kind of like it, you know, the, the, the only thing I
• 49:26
  troll is just how big the range is.
• 49:28
  It's like, well, you know, if Bitcoin could be anywhere
• 49:31
  between what, 35K and 400K. So it, the, the, the model's
• 49:38
  never going to fail. It's just like that range is
• 49:40
  just to me, that's where it, it gets a little ridiculous.
• 49:45
  But I do believe Bitcoin in terms of like an S curve
• 49:49
  technology adoption thing. Like I think there will be a
• 49:55
  critical moment where everyone adopts Bitcoin and I I think
• 50:02
  that will break the power law. Like I believe sort of sort of
• 50:07
  in the power law, but I think it's going to break to the
• 50:09
  upside and then it's broken and all our models are broken.
• 50:19
  Down under Blues, I've been saying this exact thing.
• 50:22
  The next group of bitcoiners will come in when Bitcoin is
• 50:24
  achieving new all time highs, retail chases winners when they
• 50:28
  are up. We're we're going to talk about
• 50:29
  that. We're going to talk about that.
• 50:30
  So let let let me keep this moving.
• 50:32
  I'm going to give you a quick update on the clarity act and
• 50:36
  then I'm I'm going to we're going to literally talk about
• 50:38
  that down under Blues. So let's we'll have that
• 50:40
  discussion in a minute. One more commercial, another
• 50:45
  commercial break. I know, I know, I know.
• 50:46
  And we're going to talk about the Clarida.
• 50:48
  I'll be right back. I want to give a shout out to
• 50:51
  our partner Hive Digital Technologies.
• 50:53
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  mining footprint and channels that same scale into high
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  performance compute where their AI cloud is now ranked number
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  one in the world for network performance.
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  At Hive, you've got dual engines, Bitcoin and AI,
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  humming, roaring ACCE in unison. They're lean and mean, they're
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  green and clean, and they're rewriting the playbook on
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  sustainable digital infrastructure.
• 51:22
  You can catch the latest buzz at Hive Digital Tech or at Hive
• 51:26
  Digital Tech dot. Com I did the wrong one.
• 51:34
  All right, whatever, whatever, we'll keep it moving.
• 51:37
  We'll keep it moving. OK, Here is the Clarity Act
• 51:41
  update. And again, I do want to give a
• 51:44
  huge shout out to Eleanor Ortera.
• 51:46
  She's been on the ball on this. I I think she's probably the
• 51:50
  best source of what is actually going on with the Clarity Act.
• 51:54
  And I've seen a lot of ridiculous engagement bait on
• 51:59
  Twitter regarding the Clarity Act.
• 52:02
  So I I'm trusting Eleanor. All right, We're trusting
• 52:05
  Eleanor on where we currently are with the Clarity Act.
• 52:09
  And here is her Monday morning report on where we currently
• 52:12
  are. And to be honest, I don't even
• 52:14
  know what this title means. Stakeholders mum on yield
• 52:17
  details as late April markup expectations build.
• 52:23
  Is that British? Is mum British or something?
• 52:29
  All right Anyways, the sub headline is crypto and banking
• 52:32
  leaders who reviewed the the latest compromise on stablecoin
• 52:36
  yield and rewards are staying tight lipped but remain hopeful
• 52:40
  a solution has been reached. Interesting.
• 52:44
  I I did mention this last week that rumors are that there seems
• 52:48
  to be a solution that has been reached, a compromise from both
• 52:53
  sides. And as we heard specifically
• 52:56
  from Senator Lummis, we were supposed to have this compromise
• 53:02
  completely reached by yesterday on Easter.
• 53:06
  Timeline's been pushed back a little bit, but it seems like
• 53:10
  maybe they have come to a conclusion and we just haven't
• 53:16
  fully heard what what that is. Anyways, I'm going to read a
• 53:19
  little bit of this. So senators have one more week
• 53:22
  of calm before returning to a storm of spring activity,
• 53:24
  confirming Federal Reserve Chair nominee Kevin Walsh, advancing A
• 53:28
  reconciliation package and most important to the crypto
• 53:30
  industry, passing the Clarity Act.
• 53:33
  As it stands, the key issue holding up the bill is this
• 53:36
  debate between banks and crypto over how companies can offer
• 53:39
  rewards on customer stable coins holding without triggering
• 53:42
  deposit flight. We, we've been covering this for
• 53:44
  I feels like months at this point.
• 53:47
  Appearing to be an inflection point after a second round of
• 53:50
  meetings with Senate staffers late last week, according to two
• 53:54
  industry sources who spoke with Crypto in America on condition
• 53:57
  of anonymity because they were not authorized to comment.
• 54:00
  One from crypto and one from banking.
• 54:03
  Stakeholders reviewed the latest compromise language Thursday,
• 54:06
  with banks brief Friday. Neither would discuss details,
• 54:09
  but said they were hopeful A workable solution has been
• 54:12
  reached this time. So it looks like they
• 54:17
  compromise. I don't know.
• 54:19
  The revised deal follows 2 months of tense negotiations
• 54:22
  that ended in industry dissatisfaction with a late
• 54:25
  March draft from Senator Tom Tillis, Angela also Brooks and
• 54:29
  the White House, which some stakeholders including Coin Base
• 54:32
  and Stripe, balked at. A strike spokesperson declined
• 54:35
  to comment. A Coinbase spokesperson did not
• 54:38
  respond to requests for comment, though it's Chief Legal Officer
• 54:41
  Paul Gruel sparked excitement by saying on TV last Wednesday that
• 54:44
  he believed their resolution on the Clarity Act could be reached
• 54:47
  within 48 hours. Since that 48 hours has been
• 54:51
  passed so far, there's only been silence, and it remains unclear
• 54:54
  whether the Senate Banking Committee plans to release the
• 54:56
  deal text publicly ahead of a markup many expect Chair Tim
• 55:00
  Scott to schedule in the final two weeks of April.
• 55:09
  Really nothing, dude. Hey dudes.
• 55:15
  Hey Bros, there's really nothing but OK just to just to tally.
• 55:21
  Oh, I didn't even pull it up. My bad guys, I apologize.
• 55:26
  So just to tally, it seems again, no, no details have been
• 55:35
  discussed, but they are hopeful A workable solution has been
• 55:40
  reached this time again, as the speculation and rumors we're
• 55:46
  circulating it from Wednesday, they said 48 hours it should be,
• 55:51
  you know, in there should be a compromise.
• 55:53
  It seems like they're finally all at the table agreeing on
• 55:56
  this again, from what we heard, it was supposed to be in by
• 56:00
  yesterday on Easter. Now we are hearing that the
• 56:08
  markup should happen the final two weeks of April.
• 56:13
  So at least a week, I'm guessing, before we hear
• 56:19
  anything at all intra batum is happening this week.
• 56:28
  No, you're trolling, dude. You're trolling.
• 56:31
  You are trolling, dude. Yeah.
• 56:36
  So look, I'm going to maintain what I've been saying.
• 56:44
  If we don't see this by the April quote UN quote, you know,
• 56:50
  pseudo deadline, I'm sure they'll push it back and be like
• 56:54
  it's going to happen by May and then it's not going to happen.
• 56:59
  And remember, if it doesn't happen by June, that's when they
• 57:05
  go on vacation for a little bit. And I don't think they come back
• 57:08
  till about October. If my timelines are correct.
• 57:14
  I keep forgetting them. So I'm, I'm going to, I'm going
• 57:19
  to stand by if this doesn't happen by the end of April, this
• 57:23
  now they're saying the final two weeks of April.
• 57:26
  If this doesn't happen by the end of April, I don't think
• 57:30
  we're going to get the clarity act through.
• 57:34
  Now, again, there's been a lot of conversations whether it
• 57:36
  should even get through in the 1st place.
• 57:38
  I mean, let's, you know, tally up the score here.
• 57:43
  I thought the genius Act was about stable coins and now the
• 57:45
  clarity act is being held up because the stable coins like
• 57:49
  what the hell is going on? Oh, actually one one other
• 57:51
  thing. Since I brought up the genius
• 57:54
  Act, I was going to cover this last week we did see some
• 58:00
  movement on the genius act. I wouldn't necessarily say it is
• 58:11
  anything substantial per SE, but the US Treasury did announce
• 58:17
  this. This was on April Fool's Day,
• 58:19
  which a lot of crazy stuff happening on April Fool's Day.
• 58:23
  Huh. The press release from the US
• 58:25
  Treasury. The Treasury is seeking public
• 58:26
  comment on Genius Act notice of proposed rulemaking concerning
• 58:29
  state level regulatory regimes. Today, the US Department of the
• 58:33
  Treasury issued a notice of proposed rulemaking seeking
• 58:37
  public comment related to Treasury's implementation of the
• 58:40
  Guiding and Establishing National Innovation for US
• 58:42
  stable Coins, AKA the GENIUS Act.
• 58:44
  The MPRM is the first regulation Treasury has proposed to
• 58:48
  implement the GENIUS Act, so Treasury welcomes comments on
• 58:54
  the proposal from all interest stakeholders.
• 58:57
  Proposal builds on the advance notice of proposed rulemaking
• 59:00
  the Treasury issued last September, seeking public
• 59:02
  comment on a wide range of matters relating to the
• 59:05
  implementation of the Genius Act.
• 59:06
  So the reason I'm bringing this up, Oh I God, dude, I really do
• 59:12
  need my own opti here dude. I, I keep blowing it for you
• 59:16
  guys. Here you go U.S.
• 59:18
  Treasury. So you know, I'm not fake news
• 59:20
  in you. But anyways, the reason I'm
• 59:24
  bringing this up in this context is when did the Genius Act get
• 59:28
  passed? And now we're finally getting
• 59:34
  the first proposed rulemaking implementing the Genius Act and
• 59:40
  it's not even really done. They're going to open up
• 59:43
  comments on this. So as we've covered for you
• 59:46
  guys, the machine that is in Washington, it moves very
• 59:54
  slowly. So just not that bullish on the
• 59:59
  clarity act passing. And I'm I'm really not even that
• 1:00:01
  bullish on the clarity act on what the clarity Act is.
• 1:00:04
  But let's let's let's fact, let me let me give you the actual
• 1:00:08
  timeline. Genius act passed.
• 1:00:12
  So genius act. Signed into law July 18th, 2025.
• 1:00:22
  This came out April 1st, 2026. So what's that?
• 1:00:28
  10 months, 10 months to get? Not even the first
• 1:00:36
  implementation of the Genius Act, but the first proposed rule
• 1:00:41
  change from the Genius Act. So these are the timelines we're
• 1:00:45
  working on, guys. Now in the contents of the
• 1:00:48
  Clarity Act, they're saying the last two weeks of April.
• 1:00:54
  If it doesn't pass by April, guys, I don't think it's going
• 1:01:00
  to get through. The real deadline in my mind is
• 1:01:03
  June. But if it doesn't get in by
• 1:01:08
  then, the midterms are going to be here, and this is all going
• 1:01:12
  to be on the back burner. What are they talking about,
• 1:01:18
  Chef Tommy, What are we talking about?
• 1:01:21
  I guess. I guess, Elaine, I guess it
• 1:01:26
  takes a genius to figure out how no genius the ACT is.
• 1:01:29
  Yeah. Yeah.
• 1:01:33
  No, Dude, guys, I don't know how my job is to speak.
• 1:01:36
  OK, All right? I I have a Valley girl accent.
• 1:01:41
  I can barely speak words and you guys still like to listen to me.
• 1:01:50
  It's more of a you problem than a mew problem actually.
• 1:01:53
  Before I move on, shouts out to Joey 1286, thank you for the $5
• 1:01:59
  super chat. And it says 39 trillion Fiat
• 1:02:02
  bucks in national debt and counting while Bitcoin is still
• 1:02:05
  21 million gas lighting gusts won't work anymore.
• 1:02:08
  This is the way. Agreed, agreed.
• 1:02:11
  It's almost like the national debt, completely unsustainable.
• 1:02:16
  And actually I, I didn't Fact Check this, so, you know, don't
• 1:02:20
  hold me to it, but remember I was talking about the defense
• 1:02:26
  spending increase of one from $1 trillion to $1.5 trillion.
• 1:02:34
  I did a little bit of follow up and it's not going to be
• 1:02:39
  completely cause per SE from just creating money.
• 1:02:43
  It seems like it's going to be cutting from a lot of other
• 1:02:45
  things. It's literally they're literally
• 1:02:47
  going to take everything from us so that we could spend more
• 1:02:49
  money for the war in 2026. But I saw it, I believe it was
• 1:02:54
  Forbes, Zet or maybe it was Reuters.
• 1:02:57
  They were saying that the new defense budget is going to cost
• 1:03:00
  us $7 trillion. So I think everyone's already
• 1:03:07
  pricing in a $46 trillion national debt.
• 1:03:15
  My dudes, my friends, boys and girls, we're cooked.
• 1:03:25
  Yo, if you do not have Bitcoin, it's over.
• 1:03:29
  It's absolutely over. No, no, no, it's Monday.
• 1:03:31
  We're not black Pilling. We are not black Pilling.
• 1:03:34
  Maybe that's just a clear pill. Clear pill.
• 1:03:39
  You'll give me clear pill anyways, We're going to.
• 1:03:42
  We're going to do a little culture.
• 1:03:44
  I'm going to do a little cultural analysis of where
• 1:03:47
  Bitcoin currently is. I'll be right back.
• 1:03:52
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  Sorry guys, I'm I'm going delusional here.
• 1:06:35
  You know, I was thinking on Brexit.
• 1:06:36
  That's completely off topic, but I'm I'm like dying.
• 1:06:40
  I'm dying in here today. I dude, the AC is burnt and I'm
• 1:06:44
  like how many? I wonder how many calories I'm
• 1:06:46
  burning here just doing this show.
• 1:06:48
  I'm like I'm sweating like a pig right now.
• 1:06:51
  It's I don't know, 80° in Miami, 70% humidity.
• 1:06:57
  It feels like 90° in this room. I'm trying to keep it cordial
• 1:07:02
  here and not sweat profusely on this show.
• 1:07:05
  And I'm like, I just wonder I'm I'm like burning.
• 1:07:07
  I wonder how many calories I burn on this show every day
• 1:07:10
  because dude, I don't I don't know.
• 1:07:13
  We can't figure out the AC in here, guys.
• 1:07:15
  Like it's either too loud and it sounds like or I'm burning up in
• 1:07:20
  here. All right, and enough of me
• 1:07:22
  complaining. Enough of me complaining.
• 1:07:23
  I know you guys don't come to hear me complain, but man, this
• 1:07:28
  is brutal. Hold on.
• 1:07:31
  I'm like, do not. This might be a bad joke, but I
• 1:07:36
  was joking the other day. I'm like, I feel like I'm going
• 1:07:38
  through menopause, like I'm, I'm just sweating profusely for no
• 1:07:42
  reason. What is going on?
• 1:07:44
  All right, all right, anyway, sorry, guys.
• 1:07:45
  Sorry, sorry. Bad joke, bad joke, bad joke.
• 1:07:49
  I saw this. All right, shout out to British
• 1:07:51
  Huddle and you know, British Huddle.
• 1:07:56
  Some people love him, some people hate him.
• 1:07:58
  He's a very divisive figure, but I'd like directionally wholly
• 1:08:04
  agree with this tweet here. I'm I might have a little bit of
• 1:08:08
  a different disagreement with him, but for the most part, I'm
• 1:08:12
  seeing this exact same thing. Anyways, the tweet goes, Bitcoin
• 1:08:15
  content is dead. And it's not because Bitcoin is
• 1:08:18
  dead. In fact the high net worth
• 1:08:20
  individuals seem to still be buying.
• 1:08:22
  Or because the creators in the space suddenly became shit
• 1:08:26
  because some of them are really great.
• 1:08:27
  It's because as I predicted a year and a half ago and was
• 1:08:30
  hated for, we have hit peak Bitcoin education for retail and
• 1:08:34
  they just don't care anymore. Was utterly cooked, fried and
• 1:08:38
  has given up. Retail does not give a single
• 1:08:41
  damn about Bitcoin. We'll be back to take it now
• 1:08:44
  when the price gets moving and momentum builds enough.
• 1:08:47
  But remember, there's still only three-year olds the Bitcoin.
• 1:08:50
  The question is, will you pass the IQ test of market moments
• 1:08:54
  like these? Now, again, I probably, I, I
• 1:09:00
  think I agree for the most part with with this tweet, from what
• 1:09:04
  I'm seeing on this end, you know, it's our job to make
• 1:09:09
  contact and our little bit, our literal business thesis is that
• 1:09:14
  as Bitcoin grows, Bitcoin media will grow with it.
• 1:09:20
  But currently, again, it could just be bear market vibes,
• 1:09:23
  right? You know, down under blue said
• 1:09:25
  it, British huddle just said it like they'll come back when the
• 1:09:29
  price comes back. Remember last year when we hit
• 1:09:32
  100K, we're like, oh, they're coming back.
• 1:09:34
  Like this time for sure, this 100K, they're coming back for
• 1:09:38
  sure didn't come back. Now, there's a lot of theories
• 1:09:42
  as to why that's the case. I think part of it is 1.
• 1:09:47
  You know, people feel broker than ever, no matter what the
• 1:09:51
  rhetoric is, no matter what the narrative is about the economy
• 1:09:54
  being the best it's ever been. Gas is more expensive, groceries
• 1:10:00
  are more expensive, rents and most places is more expensive.
• 1:10:04
  Like people are having a hard time and we've been covering
• 1:10:06
  this for a while. Like the average person is
• 1:10:08
  having a hard time. Yes, a lot of us Bitcoiners are,
• 1:10:11
  we're feeling the pain of a bear market.
• 1:10:13
  Our networks, you know, our net worth is cut, cut in half, but
• 1:10:19
  most people have no savings. Like absolutely not that it's
• 1:10:24
  really it's just, it's absolutely insane.
• 1:10:26
  And then add on top of that, that I think the last time that
• 1:10:30
  retail was here, the average person got into Bitcoin or
• 1:10:33
  crypto. What happened either they lost
• 1:10:37
  their money on FTX and block fi in Celsius got wrecked, don't
• 1:10:42
  want to come back ever again because it got burnt.
• 1:10:45
  They bought shit coins again, same thing put their hand on the
• 1:10:48
  stove and got burnt. Don't don't care about Bitcoin.
• 1:10:54
  And now we've gotten to this point now where the whole
• 1:10:57
  world's a gambling casino with Poly market Kaushi.
• 1:11:03
  You know, with all of this, you can literally bet on the
• 1:11:06
  weather, you know, you can bet on anything.
• 1:11:08
  Now everyone's chasing the quick gain and and we've turned the
• 1:11:12
  whole world into a casino now like you could, you could
• 1:11:15
  literally bet on anything or even further.
• 1:11:20
  I don't know if you guys watch other content, but more normie,
• 1:11:24
  more normie friendly content, but it seems like all the kids
• 1:11:28
  are on stake, all the biggest influencers are on stake.
• 1:11:31
  They're literally just chilling, degenerate gambling casinos.
• 1:11:35
  So what does this tell me about where we currently are right now
• 1:11:38
  in regards to retail is that everyone has this gambling
• 1:11:44
  mentality, this it's all blowing up.
• 1:11:48
  I just need to get as rich as fast as humanly possible.
• 1:11:52
  And we've been saying for a long time shilling Bitcoin or even
• 1:11:56
  just talking about Bitcoin in the context of just DCA, you
• 1:11:59
  know, four year cycles, like a long term view saving isn't that
• 1:12:03
  sexy? And especially when Bitcoin what
• 1:12:08
  we excuse me, we, you know, excuse me, haven't gone four
• 1:12:14
  years and nothing's happened like what we're back in 2021
• 1:12:18
  prices. It's just like I, I, I generally
• 1:12:22
  agree with British huddle, like retail's cooked Bitcoin content
• 1:12:29
  is cooked right now. And it, it's, I think it's
• 1:12:33
  really just bear market vibes. It's just we're in a bear
• 1:12:35
  market. Once the price comes back, I
• 1:12:41
  think we'll, we'll start to see the, the fervor.
• 1:12:43
  We'll start to see even on this show.
• 1:12:45
  Remember Me and Nico have been talking about it.
• 1:12:47
  What was it last year? So around the Trump election in
• 1:12:52
  the beginning of 2025, when we still had, you know, little
• 1:12:57
  light in our eyes, we were starry eyed.
• 1:13:00
  We were hopeful for the year. We were hopeful for the
• 1:13:02
  parabolic run of 2025. We were getting 1000 people
• 1:13:08
  hanging out with us. Now we're like happy if we're in
• 1:13:14
  the 4 to 500 range today, we're at like 350.
• 1:13:21
  It's been a slug for everyone and and I look at everyone in
• 1:13:25
  the Bitcoin space, I look at all of their numbers, all the
• 1:13:28
  content creators and everyone is hurting right now.
• 1:13:33
  Now what? What's that telling me?
• 1:13:35
  One, we're in peak bear market. You know, people are tuning out.
• 1:13:39
  People don't care right now 2 people aren't searching for
• 1:13:43
  Bitcoin content because Bitcoin content is being pushed and
• 1:13:47
  that's just how YouTube works. Doesn't push your content, just
• 1:13:51
  gives videos for people that are searching for that content.
• 1:13:54
  That's just how it works. And then there hasn't really
• 1:14:02
  been anything crazy like the price has been stale. 2025, the
• 1:14:09
  price literally went sideways the whole year.
• 1:14:12
  And here we are at the beginning of 2026.
• 1:14:14
  And what is what's Bitcoin doing?
• 1:14:15
  Yeah, we crashed at the end of last year and we've been going
• 1:14:19
  sideways forever. It's like people tune out when
• 1:14:22
  it gets boring. When the price of Bitcoin
• 1:14:24
  doesn't do anything, people tune out.
• 1:14:28
  And I do agree with with British auto here of like it is an IQ
• 1:14:32
  test and they are going to come back when the price comes back.
• 1:14:35
  But this question right here is I think the big question for
• 1:14:44
  everyone. I mean, like I played you Peter
• 1:14:48
  McCormick shouts out to Peter McCormick.
• 1:14:50
  He literally traded the Bitcoin content game to a tee.
• 1:14:54
  He did he trade the top. Are we cooked here as Bitcoin
• 1:14:59
  creator to all of us because retail just doesn't care
• 1:15:03
  anymore? Have we hit the high watermark
• 1:15:08
  of Bitcoin education? This is like the existential
• 1:15:11
  question I keep asking myself. If we did, man, our business is
• 1:15:15
  cut, dude. I might not be here for that
• 1:15:18
  much. I might not have a job, guys.
• 1:15:22
  I know you guys are mean to me every day and some of you are
• 1:15:25
  nice, but we might need to cherish these moments.
• 1:15:31
  They might not be around for that much longer.
• 1:15:36
  Have we hit peak Bitcoin education?
• 1:15:39
  I really don't think so. I think it's just, dude, the
• 1:15:43
  price has been so boring. It's I don't even want to pull
• 1:15:46
  up the one minute chart right now.
• 1:15:47
  I don't, I don't want to black hole myself, but I'm going to
• 1:15:50
  pull up the 12 months chart. So we, yeah, we're back to 2021
• 1:15:59
  prices, guys. So it's not just that retail's
• 1:16:04
  broke. It's we've been going sideways
• 1:16:08
  for four years. We literally haven't gone
• 1:16:13
  anywhere in four years, guys. Man, these long sideways walks
• 1:16:20
  are great for me. For real though, that is the
• 1:16:23
  real that that is the real take away here.
• 1:16:26
  Don't watch Shame me bro. I'm just having fun guys it's
• 1:16:34
  Monday, I'm having a little fun all right I'm like low key
• 1:16:38
  delusional, you know, I know, I know you guys don't really care
• 1:16:40
  about my personal life, but like I didn't get to bed at 3:00 and
• 1:16:46
  I got in bed at like 10:30 dude, I, my head hurts.
• 1:16:52
  I, I slept for like 6 hours. I had to sleep in till like 9:00
• 1:16:56
  today just so I'm somewhat mentally here.
• 1:16:59
  I'm like delusional right now because I'm a boomer.
• 1:17:03
  Dude. I need sleep guys.
• 1:17:06
  Let's see, we're back at 2021 prices.
• 1:17:08
  How are all the other assets doing?
• 1:17:12
  Yo Yellow, what's up? Hey yo, my friend, my friend, my
• 1:17:19
  friend. It is all my fault.
• 1:17:21
  I know dude, I'm doing my best. I'm sorry.
• 1:17:24
  I'm sorry, you guys, I it's my fault.
• 1:17:26
  We're in a bear market. It's it's my fault.
• 1:17:28
  It's always my fault. It will always be my fault.
• 1:17:31
  What's up, bro? I haven't seen you in a minute.
• 1:17:33
  It's good to see you. Hey, guess there's a civil
• 1:17:36
  lining here. I got my boy in the chat.
• 1:17:40
  All right? So we're not doing that bad.
• 1:17:41
  We're not doing that bad today. When the boys come back in the
• 1:17:45
  chat, you know, it's like, all right, hey, we're doing OK.
• 1:17:48
  We're doing OK, I guess you know, I, I could wrap up, but do
• 1:17:54
  you do you actually want me to check?
• 1:17:56
  I I'll check. We'll check All right since
• 1:17:59
  2021, I guess we're going to do some chart bowling.
• 1:18:04
  I didn't want to do chart bowling guys, I don't want to do
• 1:18:06
  any chart bowling today. Hey misfit, you're the you're
• 1:18:10
  you're the real MVP. Bitcoin is boring and you're
• 1:18:13
  just here to hang out with me. I guess on a on a positive note,
• 1:18:19
  I guess I'm somewhat entertaining, huh?
• 1:18:22
  All right, so here's Bitcoin. Bitcoin.
• 1:18:25
  I I like this one crypto all right, actually it's kind of
• 1:18:28
  dirty, but you can see price. We are back.
• 1:18:32
  I guess you know, being more generous.
• 1:18:35
  We're back to 2024 prices, but really we're back to the 2021
• 1:18:39
  peak. Brutal OK, four year.
• 1:18:43
  Let's see four year in gold. We're getting cooked dude. 2021
• 1:18:50
  dude fuck we should have just bought gold guys.
• 1:18:54
  Maybe Peter Schiff was right 200% dude we're we've round
• 1:18:59
  tripped and gold's up to 100%. God this is so depressing.
• 1:19:05
  I was trying not to black pill myself.
• 1:19:08
  Here we are. This is the MSCI World ETF,
• 1:19:11
  which is basically like all of the indexes, equities rounded up
• 1:19:18
  since what what was it 2021? 35%?
• 1:19:27
  Actually, I guess I could be a little more lenient here with
• 1:19:30
  Bitcoin. I'm kind of doing the close, but
• 1:19:36
  we're up 50% from close of 2021 to where we are.
• 1:19:40
  So it's it's not as bad as I'm making out to see what else,
• 1:19:45
  what else should I do in here? I guess let's look at MAG 7.
• 1:19:49
  You know we're kind of looking like the mag 7 here.
• 1:19:51
  Oh, I can't even go back to 2021 whatever Bros.
• 1:19:56
  But actually this does bring up a tweet, another tweet just to
• 1:20:00
  wrap it up because it you guys are probably like this is a
• 1:20:02
  Bitcoin show and you're making it look like Bitcoin is ass.
• 1:20:08
  I didn't do that. OK, it's my fault it's my fault.
• 1:20:11
  Did you guys see Apparently Sailor and.
• 1:20:17
  Peter Schiff have been arguing on the timeline, and let me see,
• 1:20:21
  I could have swore I put this in my notes this morning.
• 1:20:24
  Yeah, here we go. All right, so basically what I
• 1:20:30
  just did. Here's Peter Schiff yesterday.
• 1:20:33
  Over the past five years, the price of Bitcoin is up by just
• 1:20:36
  12%. Over the same time period, the
• 1:20:38
  NASDAQ is up 57.4%, S&P 500 is up 59.4%, gold is up 163% and
• 1:20:45
  silver is up 181%. If the appeal of Bitcoin is its
• 1:20:48
  superior long term performance, why shouldn't anyone keep
• 1:20:50
  holding it? Sailor respond, time frames
• 1:20:54
  matter. Since August 2020, Bitcoin is a
• 1:20:56
  top performing major asset and it's not even close.
• 1:21:00
  Zoom out further and the gap only widens.
• 1:21:04
  So yeah, you know, cherry picking.
• 1:21:05
  I am cherry picking just because we've round trip to 2021 prices,
• 1:21:10
  but our, you know, kegger annualized returns in 2020.
• 1:21:17
  We're blowing everyone out of the water.
• 1:21:19
  All right? It's all about perspective.
• 1:21:22
  It's all about perspective. We need some Peter Schiff
• 1:21:27
  thumbnails with his mouth open. Simply Bear is the new name of
• 1:21:32
  the show. Hey, man, if you bring up the 15
• 1:21:36
  year chart, you see we are right on target to the upside.
• 1:21:39
  And then yeah, yeah, let's do that.
• 1:21:41
  All right, since you guys are calling me a bear before I wrap
• 1:21:43
  up today's show, we're going to do we're going to do the most
• 1:21:47
  bullish chart of all time. Nothing even comes close to
• 1:21:53
  this. Let's look at the all time
• 1:21:59
  monthly. Aw, man, it's so beautiful.
• 1:22:01
  Look at that look at that. Oh man, God, it's so beautiful.
• 1:22:19
  11.5 million percent gains. I really wish I bought Bitcoin
• 1:22:25
  in 2010. I really wish I wasn't a dumb
• 1:22:31
  broke college student in 2010. All right, Bros.
• 1:22:37
  All right, Bros. All right, Bros, you know we
• 1:22:46
  want monies. Yeah, Big P gets it.
• 1:22:48
  We want monies. All right, guys, I'm rambling.
• 1:22:52
  I'm having fun. I'm having fun with you guys in
• 1:22:54
  the chat. But you already know the deal.
• 1:22:56
  It's Monday, man. Start of another week.
• 1:22:59
  We are locking in. We are locking in for the week.
• 1:23:08
  We got a couple of things. You know, Huddle does the three
• 1:23:11
  rules for Bitcoin. I might be more of the, there's
• 1:23:16
  more rules for Bitcoin, but that's just 'cause I want you
• 1:23:18
  guys to be the wealthiest, healthiest, happiest person
• 1:23:25
  possible. So we got to lock in 2026 is the
• 1:23:30
  year of ascension. Got to lock in on the diet, make
• 1:23:33
  sure we're eating good. You know, put the cookies.
• 1:23:35
  I know it was Easter yesterday. And if you celebrate Easter like
• 1:23:38
  I did, dude, I had cookies and freaking pie and ice cream.
• 1:23:45
  We're putting down the sweets. I'm a I'm a big fan of sugar.
• 1:23:50
  I've I've been putting sugar in my coffee.
• 1:23:51
  But lock in on the diet, you know, calorie deficit, minimum
• 1:23:56
  high protein, locking in on the diet.
• 1:24:00
  Hit the gym the very least 10K steps in, get some sun,
• 1:24:06
  preferably 15 minutes right when you wake up, right when the sun
• 1:24:12
  rises, call your loved ones and really should be #1 make sure
• 1:24:20
  you're stacking Bitcoin. If you lock in on this five
• 1:24:23
  steps, 2027 is going to be an even better year than this year.
• 1:24:28
  All right, but we're locking in also.
• 1:24:32
  It's almost summertime guys. Now, I know all of you guys
• 1:24:34
  don't live by the beach. We got to make sure you're the
• 1:24:39
  the best person you can possibly be.
• 1:24:41
  It actually brings back something I've always been
• 1:24:43
  saying for a very long time. You got to remember you are a
• 1:24:48
  billboard for Bitcoin. You got to live the life, got to
• 1:24:54
  live a good life. What are those?
• 1:24:56
  People won't care about what you tell them.
• 1:25:00
  So, you know, look good. Wait, what's the Deion Sanders?
• 1:25:04
  You look good, you feel good, you feel good, you play good.
• 1:25:09
  It's all together. Make sure you're the total
• 1:25:11
  package here, guys. That's that is the real message
• 1:25:14
  of simply Bitcoin is I want you to be the total package.
• 1:25:17
  I will arm you with what I think is going on, but I give you guys
• 1:25:21
  the same sign off every single day.
• 1:25:24
  I want you guys as fit, as healthy, as happy and as wealthy
• 1:25:30
  as possible because when Bitcoin takes over, we take over.
• 1:25:36
  OK, All right, guys, I love you. I'll see you tomorrow.
• 1:25:41
  That's you couldn't, dude, I I don't know why I couldn't sleep.
• 1:25:44
  All right, I'm, I'm going to, I'm going to take a nap today
• 1:25:46
  and I'm probably not going to be able to sleep tomorrow or
• 1:25:49
  tonight, but oh, yeah. Oh, yeah.
• 1:25:52
  Wait, number six. Let's, let's, let's lock in on
• 1:25:57
  the sleep. Boys, girls, 8 hours, boomer
• 1:26:00
  time. We need naps.
• 1:26:03
  Don't sleep good. All right, All right, Opti.
• 1:26:07
  Workout cloud, bro. That's that's my boy Sal.
• 1:26:11
  If you know, you know we are barbell Maxis.
• 1:26:16
  The barbell doesn't lie to you. All right, I'll see you guys
• 1:26:22
  tomorrow. Have a good rest of your day,
• 1:26:23
  guys. I love you.
• 1:26:24
  Peace out. It's your boy Opti.
• 1:26:27
  Hey, cheers from England, man. Let's go Shouts out to our
• 1:26:34
  brothers and sisters across the pond.
• 1:26:39
  It's looking a little dark for you guys over there, but hey,
• 1:26:41
  man, we're locking in stack some sets.
• 1:26:48
  Get your life in order. This is the message.
• 1:26:51
  Sleep at work is bad, dude. I really wish I could sleep at
• 1:26:53
  work. All right, all right, I'm
• 1:26:55
  rambling. I'm rambling, but all right, let
• 1:26:58
  it go. Peace out.
• 1:26:59
  I'll see you tomorrow. Have a good rest of your day.
• 1:27:02
  Today's episode was brought to you by bitcoinwell.com, a
• 1:27:05
  Bitcoin only platform on a mission to enable financial
• 1:27:08
  independence.