Latest / Simply Bitcoin / You Wont believe what JP Morgan Says WILL Drive Bitcoins NEXT MOVE! | EP 1500

Transcript

You Wont believe what JP Morgan Says WILL Drive Bitcoins NEXT MOVE! | EP 1500 · Simply Bitcoin

• 0:02
  JP Morgan just made an interesting announcement.
• 0:06
  Well, it's really more of kind of like a report and analysis
• 0:08
  about Bitcoin, gold and MicroStrategy.
• 0:11
  They highlighted that MSTR or strategy is on track to buy $30
• 0:16
  billion of Bitcoin this year, more than they bought in each of
• 0:21
  the past two years. But what's really interesting is
• 0:25
  that they highlight that the money pouring out of the gold
• 0:28
  ETF is the signal to explain this structural shift.
• 0:32
  This really begs the question, what is JP Morgan seeing behind
• 0:36
  closed doors? And for all of us here, how much
• 0:40
  of gold's 33? Well, it's like 30, two, 8.
• 0:44
  So $33 trillion market cap will flow into Bitcoin.
• 0:50
  We have been hearing for AI don't know years at this point
• 0:55
  that we will one day see the great rotation, the great gold
• 0:59
  revaluation, money flowing from gold into Bitcoin.
• 1:02
  And we have noticed that in times of Bitcoin and gold moving
• 1:08
  that they kind of move in inverse.
• 1:10
  Gold will pump, Bitcoin might be a little sluggish, and then once
• 1:15
  gold has its blow off top, that money rotates into Bitcoin.
• 1:20
  Well, for the last couple of weeks and months, we've all been
• 1:23
  wondering, obviously, as I keep mentioning, what we saw in 2025
• 1:28
  in regards to gold and how much capital actually flowed into
• 1:30
  gold was very interesting. In my opinion, does poke a lot
• 1:34
  of holes in the idea that, oh, Bitcoin's such a big market cap
• 1:37
  now, it's not going to be able to move as high and as far as we
• 1:41
  all believe. Well, it seems as if we are
• 1:46
  starting to see that investors are potentially not as
• 1:51
  interested in gold as they are in Bitcoin.
• 1:54
  And if that ramps up, what are the implications of this?
• 1:57
  Right? So let me break down this
• 1:59
  report. So it was recorded or rather
• 2:01
  reported by the block here. There's actually two stories
• 2:05
  from the block coming from the same analysis, but I want to
• 2:09
  start with the big story here, which is this idea of basically
• 2:14
  JP Morgan saying, and here's the headline, Bitcoin is gaining
• 2:17
  over gold as the basement trade after Iran conflict, which is
• 2:22
  what we've been telling you guys.
• 2:23
  Literally, Bitcoin has been the best performing thing in
• 2:28
  everyone's portfolio since the start of the war in February or
• 2:32
  the end of February. Now when this initially
• 2:36
  happened. I've been mentioning this on the
• 2:38
  show of how interesting it was to me to watch Bitcoin react
• 2:44
  very positively in the face of this operation, epic fury or war
• 2:49
  or mission, whatever they're calling it these days.
• 2:53
  And the fact that Bitcoin didn't crash when we started another
• 2:56
  war, a war of choice in the Middle East.
• 3:00
  I thought that was huge signal. And you guys in the chat were
• 3:04
  like making fun of me. They're like, you know,
• 3:06
  Bitcoin's acting resilient right now.
• 3:08
  It's still at 60 K. You know, it can't break 70.
• 3:11
  I'm like, yeah, but the point is it didn't drop.
• 3:15
  And remember, I've said it a couple of weeks ago, I forget on
• 3:19
  what show exactly. And on the side note, dude, 1500
• 3:23
  episodes today, our 1500 show. It's crazy to me.
• 3:26
  But anyway, anyway, I, I got side, I got sidetracked.
• 3:32
  We brought up the idea on the show that what what if the
• 3:38
  theory or our expectation of what Bitcoin decoupling from
• 3:43
  other markets was wrong? What if we didn't fully realize
• 3:48
  what that would look like? What if what we're seeing right
• 3:51
  now is Bitcoin decoupling from other markets?
• 3:54
  While everything seems to be going down well at recently, the
• 3:59
  stock market's absolutely going huge.
• 4:01
  It's breaking all time highs, basically.
• 4:04
  But Bitcoin should, in theory, either drop 1st and then recover
• 4:10
  harder and faster. Wait, pause.
• 4:14
  But what if Bitcoin decoupling is the idea that Bitcoin doesn't
• 4:20
  drop as hard as everything? Again, pause.
• 4:24
  Are we seeing this happen right now?
• 4:25
  Are we really seeing investors, I wouldn't say lose faith in
• 4:29
  gold, but start to look at Bitcoin as something that they
• 4:35
  actually need to add to their portfolio?
• 4:37
  Again, I've been bringing you guys a different reports from
• 4:40
  the institutions essentially saying like if you just add 3%
• 4:43
  of Bitcoin into your portfolio, it's going to outperform the
• 4:48
  standard 6040 portfolio. It's going to really the ROI of
• 4:53
  just adding a little bit of Bitcoin fundamentally shifts how
• 4:57
  your portfolio is going to act. Now if more people start waking
• 5:01
  up to the idea that I need to add more Bitcoin versus gold,
• 5:04
  stocks, treasuries, then the fundamental thesis, the
• 5:10
  fundamental calculation starts to shift in investors minds.
• 5:14
  That's what I've been telling you guys on the show.
• 5:16
  Well, it seems like JP Morgan, the analyst over at JP Morgan,
• 5:21
  are starting to say something very similar.
• 5:24
  So let's break down this report real quick for you guys 'cause
• 5:27
  there is some interesting stuff here.
• 5:29
  And here's the quick takeaways. Bitcoin ETFs have seen inflows
• 5:33
  for a third straight month, while gold ETFs are still
• 5:36
  struggling to recover outflows after the Iran conflict.
• 5:40
  This and other market indicators suggest investors are
• 5:43
  increasingly choosing Bitcoin over gold as a debasement trade.
• 5:49
  I repeat, it suggests that investors are increasingly
• 5:53
  choosing Bitcoin over gold in the debasement trade.
• 5:58
  We are currently every single one of us in a debasement trade.
• 6:02
  If you have capital, if you're looking at markets right now, if
• 6:06
  you're looking to preserve your wealth, then you are currently
• 6:10
  in the debasement trade. We're all watching what's going
• 6:13
  on it with Fiat currencies, with the geopolitical mess in the
• 6:17
  Middle East, and everyone is looking at how do I position
• 6:22
  myself so I don't lose my wealth?
• 6:26
  It's a fundamental shift. You know, I know a lot of us bit
• 6:28
  corners have, you know, this put all our eggs in one basket view
• 6:33
  where we we're just trying to accumulate wealth.
• 6:35
  But once you get to the wealth accumulation, once you have a
• 6:38
  little nest egg, the calculations change.
• 6:41
  And you're looking at this like, OK, how do I preserve my wealth?
• 6:44
  What is the fastest race in the horse?
• 6:47
  It looks like outside of just the Bitcoin space.
• 6:50
  Wait, what did I say? Fastest race, fastest horse in
• 6:53
  the race? I do that constantly.
• 6:57
  Well, it looks like investors are starting to at the very
• 7:00
  least wake up to the Bitcoin thesis that we've been saying
• 7:05
  for a long time. So again, sorry for the
• 7:07
  rambling. Let me let me break this down a
• 7:09
  little more. So again, Bitcoin is gaining
• 7:11
  over gold as a debasement trade after the Iran conflict as
• 7:15
  Bitcoin ETFs continue to attract inflows while gold ETFs struggle
• 7:20
  to recover outflows. Bitcoin ETFs again have seen
• 7:24
  inflows for three straight months.
• 7:26
  And the JP Morgan analysts, again for, forgive Me, Nicholas
• 7:31
  or Nicholas I can't even say his first name, sent in a report
• 7:35
  that gold ETFs, meanwhile, are struggling to recover the
• 7:38
  outflows they saw in March when the Iran conflict erupted.
• 7:42
  This is the key take away. This suggests retail investors
• 7:46
  are choosing Bitcoin over gold as a debasement trade since the
• 7:49
  start of the conflict. Which quote?
• 7:53
  The debasement trade rotates from gold to Bitcoin.
• 7:56
  The debasement trade refers to investors, of course, buying
• 7:59
  assets like gold or Bitcoin to protect against weakening Fiat
• 8:02
  currencies, especially during geopolitical tensions or
• 8:05
  inflation concerns. Is this not the Bitcoin thesis
• 8:11
  that we as Bitcoiners have been saying for over a decade that at
• 8:16
  a certain point the average investor is going to wake up to
• 8:20
  the fact that Bitcoin is the best hard money trade in the
• 8:24
  game and further best performing asset since its since its
• 8:27
  inception. It outside you know the outsize
• 8:32
  returns of adding Bitcoin to your portfolio cannot be ignored
• 8:36
  after a certain point, once everyone wakes up to the fact
• 8:39
  that Fiat dollars are melting ice cubes in your hand, you
• 8:43
  might want to get some Bitcoin. Things will start to accelerate.
• 8:47
  Well, it looks like we are seeing the beginning of that
• 8:49
  because of gold ETF flows. They're struggling right now.
• 8:54
  Bitcoin ETF flows are going extremely hard and that does add
• 8:58
  to the same idea that I'm pretty sure I brought it up yesterday,
• 9:01
  at least maybe in passing. Even though we've been in a
• 9:05
  quote crypto winter the last couple of months, The
• 9:09
  institutional ETF holder is not being scared away.
• 9:15
  That was one of the theories that a lot of Bitcoiners had.
• 9:17
  It's like, OK, hey, the institutions are coming.
• 9:20
  The institutions are here, but they're not going to be diamond
• 9:23
  handed hodlers of last resort. Well, the data is showing us
• 9:28
  something different that the investor or you know, you guys
• 9:33
  know, I always, I always kind of make fun of the boomers out
• 9:36
  there, not the Bitcoin boomers, but you know, I, I, I do have
• 9:39
  the millennial Rage Against the boomers and I and I'm trying to
• 9:42
  work on that. But what we've seen from the ETF
• 9:45
  investor in Bitcoin is the shake out here has not scared them.
• 9:51
  In fact, they have been adding to their portfolio positions.
• 9:56
  Maybe this idea is catching on, maybe this is the beginning of
• 10:00
  it. And of course, as this
• 10:03
  compounds, as this accelerates, they're going to continue to buy
• 10:07
  and not only continue to buy, but they're going to expand
• 10:10
  their portfolio allocations to Bitcoin anyways.
• 10:12
  Moving further, I did mention strategy was added in here.
• 10:16
  So we go Bitcoin buying has not been limited to retail investors
• 10:20
  through ETS. JP Morgan's positioning proxies
• 10:23
  based on CME Bitcoin futures and offshore perpetual futures have
• 10:27
  also been making new highs, suggesting institutional
• 10:31
  investors have increased exposure as well.
• 10:35
  So it's not just me looking at the data and making this up.
• 10:38
  We have some of the best market analysts out there saying the
• 10:42
  same thing, looking at the same stuff and being like, this is
• 10:45
  what it's suggesting. So, you know, maybe I, maybe I,
• 10:49
  maybe just a YouTube, but at least our analysis is
• 10:53
  directionally correct. And further, not even just
• 10:55
  directionally correct. It's on the mark anyways.
• 10:58
  The analysts also said momentum signals for Bitcoin and gold,
• 11:01
  used as proxies for positioning by momentum traders such as
• 11:04
  commodity trading advisors, have rebounded for Bitcoin since the
• 11:08
  start of the Iran conflict. And this is where it does get
• 11:11
  very interesting because investors Bitcoin buying is also
• 11:15
  happening indirectly through Michael Saylor Strategy, whose
• 11:19
  ownership is almost equally split between retail and
• 11:22
  institutional. Investor strategy remains the
• 11:25
  largest corporate holder of Bitcoin globally and has been
• 11:28
  accumulating Bitcoin at a faster pace this year.
• 11:32
  And this is where you get the news that they are projecting
• 11:35
  that sailor or strategy or the retail institutional investors
• 11:40
  in strategy might accumulate more Bitcoin through strategy
• 11:45
  than they have in the past two years.
• 11:47
  So let me pop over to that article where they break it
• 11:50
  down. This one's titled JP Morgan says
• 11:52
  Strategy's Bitcoin buying could reach 30 billion this year at
• 11:55
  current price. The big caveat is obviously at
• 11:58
  current price. So here's the chart that they're
• 12:01
  showing. You can see micro strategies,
• 12:04
  bitcoins purchases each year. You can see 2024 around around
• 12:11
  22 billion. Again in 2025 roughly around 22
• 12:16
  billion as well. And in the first quarter bought
• 12:21
  about what 7 billion Q2 obviously not over.
• 12:25
  They're estimating it'll get up to maybe 10 billion.
• 12:28
  And then they're going to see that this huge, you know
• 12:32
  estimate of what's going to happen towards the year end is
• 12:35
  going to blow out every year of strategies buying.
• 12:38
  It's essentially saying that strategies accumulation is going
• 12:43
  to accelerate. And have I not been saying that
• 12:47
  for a minute that look, what is super interesting, what is
• 12:51
  actually a phenomenon happening right now is that one single
• 12:57
  buyer in the market is not only basically buying up all the
• 13:01
  daily mind Bitcoin for weeks in advance, but that demand is also
• 13:07
  accelerating into that product, which is fundamentally different
• 13:13
  than we've seen in the past. Saylor himself is buying, well,
• 13:18
  obviously it's not himself. His company 1 Entity Strategy is
• 13:22
  buying more Bitcoin than everyone out there and further
• 13:27
  accelerating the amount of Bitcoin buying that he's done in
• 13:30
  the past two years. And you don't think that that's
• 13:33
  going to fundamentally change what's going on when all the
• 13:36
  dynamics around Bitcoin based on the institutions in Wall
• 13:40
  Street's coming in, based on the institutional investor and maybe
• 13:44
  the more savvy retail investor is starting to look at Bitcoin
• 13:48
  as the tool to mitigate the debasement trade effects.
• 13:54
  As I've been saying for a long time, all it really takes,
• 13:57
  actually, I'm not the only one, everyone's been saying this.
• 13:59
  All it really takes is 1 investor with very high
• 14:03
  conviction to fundamentally shift what the Bitcoin price is
• 14:08
  going to do, where we are going this year, next year, the next
• 14:12
  few years. And it seems like that one
• 14:15
  investor obviously has been Sailor for a while now.
• 14:18
  If it's accelerating even more, it could get very interesting
• 14:23
  here. I've been saying for the last
• 14:25
  couple of days, well, actually maybe weeks, speculating that it
• 14:29
  seems like Sailor may have single handedly saved us from
• 14:32
  the 40K gulags. And now even JP Morgan analysts
• 14:37
  are out there is like, look, he might not only be saving us, but
• 14:40
  he's also opening up these products and broadening the
• 14:45
  market of capital that's going to flow into Bitcoin.
• 14:49
  It's very, very interesting just to watch Sailor alone.
• 14:52
  And and obviously in the face of this week, you know, Sailor has
• 14:57
  been getting a lot of heat because of the the kind of
• 15:00
  narrative shift from never sell your Bitcoin to, you know, buy
• 15:04
  more Bitcoin than you sell doesn't sound as good.
• 15:08
  But in the context of how much Bitcoin he's going to buy, you
• 15:12
  know, taking a little bit off the top really doesn't affect
• 15:15
  the bottom line here. But again, the main idea here is
• 15:20
  that Bitcoin is picking up in the debasement trade perspective
• 15:25
  conversation. If we see more capital flow out
• 15:29
  of gold, if the gold ETFs continue to struggle and that
• 15:34
  capital flows into Bitcoin, then the great revaluation, the great
• 15:40
  rotation that Bitcoiners have been talking about, obviously it
• 15:44
  doesn't happen all at once. It builds a compound on itself.
• 15:48
  But it seems like the Wall Street analysts are starting to
• 15:52
  catch on to this idea. They're starting to say, hey,
• 15:54
  look, the data is showing us people are losing faith in gold
• 15:58
  and they want an alternative. And that alternative might be
• 16:00
  Bitcoin. Now, before I did the show and
• 16:03
  before I pass it over to you, Nico, I was having this thought
• 16:06
  experiment. I was talking with Luke for a
• 16:07
  little bit. And I'm like, you know, in, in
• 16:11
  context of this article, just to do a thought experiment, what
• 16:19
  would a world look like if Bitcoin overtook gold's market
• 16:25
  cap 30, We'll go $30 trillion. And then gold basically revalued
• 16:31
  down towards just the utility use of gold.
• 16:36
  And I was using the market cap of, of silver, which is roughly
• 16:39
  again rounding up around $5 trillion.
• 16:43
  That would be maybe gold is, I don't know, lower and maybe 7
• 16:48
  trillion, maybe higher and 10 trillion.
• 16:51
  I don't know what the utility market cap of gold would be.
• 16:56
  But if gold lost 20 trillion because people aren't using it
• 17:00
  anymore as a monetary monetary value.
• 17:04
  I think. That's a I'm just saying that's
• 17:06
  a crazy world to to imagine. Look.
• 17:09
  The first of all, great takes on everything.
• 17:12
  Second of all, look, if and when Bitcoin reaches the current
• 17:19
  market cap of gold, that'd be $1.7 million per coin.
• 17:23
  That's the base thesis of Bitcoin, right?
• 17:27
  I think we got disconnected for a little bit.
• 17:29
  There we go. I think we're back.
• 17:30
  That's yeah, yeah, we're having it's, it's acting up on me
• 17:33
  today. That's the base case of Bitcoin.
• 17:36
  The base case of Bitcoin is, can Bitcoin overtake the market cap
• 17:42
  of gold? But that's just the base case.
• 17:45
  That's the base case. I, I, I think that if Bitcoin is
• 17:48
  below that, I, I wouldn't call Bitcoin, I wouldn't go as far as
• 17:52
  calling Bitcoin a failure, but I think it would definitely
• 17:55
  underperform to a lot of people's expectations.
• 17:58
  Now if Bitcoin reaches that market cap of gold, that would
• 18:01
  be $1.7 million per Bitcoin. Let me say that again, $1.7
• 18:09
  million per coin. Now going back to Opti's, Opti's
• 18:14
  points in the beginning, yes, this cycle looks like AII.
• 18:20
  Hate to say this time is different.
• 18:22
  Now we're new. Now we're new every.
• 18:23
  Single time that happens, you know bad things happen but.
• 18:28
  Price just crashed. But what I'm going to continue
• 18:31
  to say what I've been saying, you know, for the last couple
• 18:35
  weeks now, really since we did this recovery from 60K to the
• 18:39
  80K region, if we channel in these levels for the next three
• 18:46
  to four months, the sky is the effing limit because that tells
• 18:53
  me that we most likely bottomed out.
• 18:56
  And again, what is the thesis here?
• 18:58
  What is the case here as to why that could be the case?
• 19:01
  Well, this cycle is different in in regards to we never had a
• 19:07
  euphoric blow off top. So if you never had a euphoric
• 19:10
  blow off top, does that mean you're going to have an 80
• 19:14
  percent, 70% correction? Those 80 to 7080 to 70%
• 19:19
  corrections come from retail selling and retail panicking
• 19:26
  out. You never had that influx.
• 19:29
  You had that influx maybe in the treasury companies, but you
• 19:32
  really never had that influx in the you never had that influx in
• 19:38
  the in spot Bitcoin price. So if you never had that
• 19:42
  euphoric top, are you going to have this massacre of a Bitcoin
• 19:47
  crash? You know that that's a thought
• 19:49
  that I want to plan in your guys minds.
• 19:52
  We don't know we're going to find out over the summer, the
• 19:55
  famous meme sell in May and then go away.
• 19:58
  We're going to find out in May, June and July if Bitcoin is able
• 20:04
  to hold these levels, is Bitcoin able to hold the 80 and 60 K
• 20:08
  levels? If Bitcoin is able to do that,
• 20:11
  then again I think we hit bottom and I and if we hit bottom,
• 20:17
  where else is there to go from the bottom to what to going up
• 20:22
  so. That's where I'm I'm standing
• 20:24
  there. But yeah, looping all of this in
• 20:27
  Opti, I remember one of the things that Michael Saylor said
• 20:30
  in a very famous spaces that he recorded many years ago.
• 20:34
  I think this was back in 2022. He said that there was three
• 20:38
  things that needed to happen in order for Bitcoin to hit
• 20:40
  $5,000,000 per coin. He said it was the approval of
• 20:44
  the spot Bitcoin ETF that happened in January of 2024.
• 20:48
  Second thing was the change in the fasby accounting rules that
• 20:51
  happened as well. And the third thing that is
• 20:54
  happening this year was the ability for banks to start to
• 21:00
  custody Bitcoin. And ladies and gentlemen, that
• 21:03
  is happening as well. So this bear market, which
• 21:08
  again, bear markets are for building what you're seeing is
• 21:12
  the institutional adoption of Bitcoin in full force.
• 21:18
  And it's extremely exciting times ahead.
• 21:22
  I can't emphasize that enough. So let's see what happens in the
• 21:25
  next three months. Let's see if the bears are right
• 21:28
  or let's see if the bulls are right.
• 21:30
  I got to say I'm kind of in the middle.
• 21:32
  I'm I, I'm, I, I went from a full bear, wow fence sitting
• 21:36
  full bear type, full bear type of scenario to now I'm feeling
• 21:42
  definitely a lot more bullish than I was.
• 21:45
  It's over. I was feeling, you know, a
• 21:47
  couple weeks ago, a month ago when we were really in the
• 21:51
  gulags in that 60K region. So let's see if we can go up
• 21:55
  from here. Let's see what happens.
• 21:58
  I still think that there could be a capitulation event.
• 22:01
  There could be a bottoming out event.
• 22:03
  But let's see. The jury is out, ladies and
• 22:05
  gentlemen. Coiled Spring Coiled spring
• 22:07
  event the. Jury is out and I I kind of want
• 22:10
  to opt if you can set this up while I keep talking.
• 22:14
  Let's release a poll to ask the audience what they think.
• 22:18
  Oh, October. Let's get let's, let's get a
• 22:20
  sense of what the crowd thinks. What?
• 22:22
  What's the poll? What's the poll?
• 22:23
  Do you think Bitcoin has bottomed out yet?
• 22:27
  Also shout out to the Rumble audience coming in strong like
• 22:30
  always. Shout out to the YouTube
• 22:32
  audience. Of course, shout out to the
• 22:33
  primal audience, the nostril audience, and of course shout
• 22:36
  out to the X audience as well. If you guys are enjoying the
• 22:39
  show so far, make sure to smash that like button.
• 22:42
  We got a very special guest. We we have a very special show
• 22:45
  for you guys today. We have the one and only Frank
• 22:48
  Holmes AKA Bulldog Holmes joining us on the show later
• 22:52
  today, which is going to be fantastic.
• 22:55
  Frank Holmes is the executive chairman of Hive Digital
• 22:58
  Technologies, so really looking forward to that.
• 23:01
  And of course, we got some updates for you guys regarding
• 23:04
  the Clarity Act. Ladies and gentlemen, the Paul
• 23:08
  Paul market odds have it at a 76% chance of passing.
• 23:13
  We played you guys videos earlier on in the week of
• 23:16
  Democratic senators saying we must support the Clarity Act.
• 23:19
  And I told you guys how important that was because the
• 23:23
  Republicans only hold 53 Senate seats.
• 23:27
  The Clarity Act needs at least 60 votes in the Senate, meaning
• 23:30
  there needs to be bipartisan support of the bill.
• 23:34
  And it looks like it's making progress.
• 23:37
  It looks like this bill might get passed by Trump's deadline,
• 23:41
  which the White House set, which was July 4th, which again would
• 23:44
  be very symbolic. That would be the 250th
• 23:47
  anniversary of the United States of America.
• 23:51
  This is a country that was founded on the ideas of freedom,
• 23:55
  right? So how symbolic would that be?
• 23:58
  First pro Bitcoin president almost assassinated 3 times
• 24:02
  passing the first real, I mean, I can't just say Bitcoin, but
• 24:08
  first real pro Bitcoin slash crypto bill in the US, the
• 24:14
  legislative process. So that is incredibly exciting.
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  We'll stay on top of all of that, ladies and gentlemen.
• 24:20
  But anyways, guys, it's going to be a great show.
• 24:22
  We have tons to talk about today.
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  Like I said, let's start the show.
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  on paper. Can you imagine that
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  conversation? You know, when you're 80 years
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  old and your grandchildren are looking at you to, you know,
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  they're expecting that Bitcoin inheritance and you're like, I
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  lost it because I wrote down my seed words on paper.
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  That's bad. That's really bad.
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  At the time of recording, Bitcoin price is $79,800 sats
• 27:20
  per dollar 1253 block height 948,487 Realized monetary
• 27:26
  inflation .83% market cap 1.6 trillion Bitcoin versus gold
• 27:31
  market cap 5.32% Percentage issued 95.36%, declined from all
• 27:37
  time high -36.7%. And the grand scheme of things,
• 27:43
  we are just getting the party started.
• 27:45
  If you're buying Bitcoin right now, you're getting it at a 36%
• 27:48
  again 36% discount, which is a pretty big discount.
• 27:53
  Anyways, update on the Clarity Act, ladies and gentlemen.
• 27:57
  It's now at a 69% chance of passing into law in 2026.
• 28:05
  There's $636,000 worth of volume, ladies and gentlemen,
• 28:11
  $636,000. That's how much money is on the
• 28:16
  line. People are placing bets about
• 28:18
  whether this is going to get passed into law.
• 28:20
  It seems like there is real momentum.
• 28:22
  Again, you had a Democratic senator go on video and say,
• 28:25
  hey, listen, I like this thing. And that would be absolutely
• 28:29
  massive for the industry. So let's see if the Clarity Act
• 28:34
  gets signed into law. It seems like the betting odds
• 28:37
  markets are, you know, it was higher than yesterday.
• 28:40
  So things are moving along. I do have a post from the
• 28:44
  Bitcoin senator, Senator Cynthia Lummes.
• 28:47
  The American people have made it clear America should lead the
• 28:51
  way on digital assets. Let's secure our financial
• 28:54
  future for generations to come. Let's get clarity done now.
• 28:59
  And she again is showing a hair. I think it's a Harris poll.
• 29:04
  There is bipartisan support for Clarity Act and again support
• 29:09
  across party lines. 55% of Democrats, Democrat voters
• 29:14
  better said, support it. 58% of Republican voters support it,
• 29:19
  the rest are neutral and only 12% of Democrat voters oppose
• 29:24
  it. Only 12% of Republican voters
• 29:27
  oppose it and only 10% of independents oppose it.
• 29:32
  And the only part where the independents, again, are, are
• 29:34
  not in line with the Democrats or the GOP are only 42% of
• 29:39
  independent voters support the Clarity Act.
• 29:42
  And my commentary on this is I don't think a lot of people even
• 29:46
  know what the Clarity Act is. I don't think a lot of people
• 29:49
  know and fully appreciate what Bitcoin is and what Bitcoin can
• 29:54
  do for the United States economy, for what Bitcoin can do
• 29:57
  for the world, right. So again, you know, this the,
• 30:01
  the country was, you know, founded as a Republic.
• 30:04
  So you'd have a representative that was supposed to, you know,
• 30:06
  represent your interest in DC. They're the ones that are
• 30:09
  supposed to be, you know, taking all of this into consideration.
• 30:13
  But it seems like there is momentum on the Clarity Act
• 30:16
  passing in 2026. And again, this would be
• 30:19
  extremely bullish. I think we would have a price
• 30:21
  jump just by this pressing. We've gotten to the point where
• 30:25
  back in 20, 2016, 2017, when me and Opti started doing this, it
• 30:31
  would like any type of news would pump the price like 50%.
• 30:37
  We've got into such a big market cap that the only way the price
• 30:42
  is going to pump is if you have substantial news.
• 30:44
  And what are the, what is that type of substantial news?
• 30:47
  It would be the United States government announcing something
• 30:51
  about a strategic Bitcoin reserve.
• 30:53
  That would be AB would be something like the Clarity Act
• 30:58
  passing because again, this is going it's in the name.
• 31:01
  This would create a lot of regulatory clarity for a lot of
• 31:06
  businesses, especially big businesses in the United States
• 31:10
  regarding digital assets. It would this, this is what
• 31:14
  would take it across the finish line, right?
• 31:17
  So again, I think this would definitely be very bullish from
• 31:21
  a price action perspective. I think the media, the second
• 31:24
  this gets passed, we're going to get a price pump.
• 31:26
  So yeah, I mean, I, I'm, I'm, I'm very excited for, you know,
• 31:31
  the next three months, I think it's going to be really
• 31:33
  revealing. Is the four year cycle finally
• 31:36
  over? Does news even bump up the price
• 31:39
  anymore? I remember when Michael Saylor
• 31:42
  first started announcing his smash buys Opti and I would be
• 31:46
  able to craft entire shows off of that.
• 31:48
  The price would move just off of that.
• 31:51
  Now at this point, Michael Saylor buying, you know, 10s of
• 31:55
  millions, hundreds of millions of dollars of.
• 31:57
  The news. Cycle doesn't care about that
• 31:59
  anymore the the price. Doesn't even move.
• 32:02
  Right. You could say the price at least
• 32:04
  doesn't go down when that happens and even sometimes it
• 32:07
  still goes down. But I think that this type of
• 32:10
  news would be big enough where it would give confidence in the
• 32:15
  markets that Bitcoin is here to stay.
• 32:18
  This would stop a potential operation choke .3 point O from
• 32:23
  happening in 20-30, right? This, this is the type of thing
• 32:28
  that would kind of stop that because again, Trump's executive
• 32:31
  orders are only so good as long as he's in office.
• 32:35
  If you want something to stick around from a regulatory
• 32:38
  perspective, it has to go through and pass the legislative
• 32:43
  process. So again, Clarity Act, ladies
• 32:46
  and gentlemen, 769% of it passing Opti, I want to get your
• 32:51
  thoughts, man, because you've been feeling very bearish on the
• 32:54
  Clarity Act. I was as well because they kept
• 32:56
  delaying it, guys. They kept delaying it over and
• 32:59
  over and over and over again. But it seems like it's picked up
• 33:03
  some momentum again. Yeah, a lot of momentum and I
• 33:06
  have been very bearish about this actually passing because
• 33:10
  like Nico said, it just constantly kept being delayed.
• 33:13
  But it does seem at at least based on all the information we
• 33:18
  have now, that actually yesterday they were saying we
• 33:22
  might get the markup in today. Now it's saying maybe the
• 33:27
  earliest that the markup will come in was Monday, which was
• 33:30
  the initial kind of timeline that we covered last week.
• 33:34
  And I, I do have to kind of make a joke though here, Nico.
• 33:37
  I, I swear, when the Clarity Act passes, we're all expecting it
• 33:40
  to pump. I'm not going to be surprised if
• 33:43
  we see it dump on that day that, you know, that's just my gut
• 33:47
  feeling here. But you guys want to know
• 33:48
  something that is actually making me feel bullish about the
• 33:51
  clarity Act has nothing to do with any of the timelines.
• 33:54
  This is this is more, you know, live ship posting here.
• 33:57
  This is what does have me bullish on the Clarity Act.
• 34:01
  It is this poster right here by Elizabeth Warren.
• 34:05
  You guys know I'm a huge fan of Elizabeth Warren here.
• 34:08
  Well, did you guys catch what she tweeted yesterday?
• 34:11
  So she is quote tweeting a headline from Bloomberg and it
• 34:15
  goes Trump family crypto project quietly sold as holders got
• 34:18
  stuck. We've we've all been seeing the,
• 34:21
  you know, presidential rug pools here.
• 34:23
  We've been talking about it since Trump coin.
• 34:25
  But this is what makes me bullish about the clarity act is
• 34:28
  that Elizabeth Warren is fighting it now.
• 34:31
  And you guys know she's been on hell bent on this anti crypto
• 34:35
  March here. Here's the tweet we saw last
• 34:37
  night. She goes the Trump family crypto
• 34:39
  project quietly cashed in while regular investors got stuck
• 34:42
  holding the bag. Elizabeth Warren always out
• 34:44
  there for the little man. Gotta love it.
• 34:47
  And then it goes. Any crypto legislation that
• 34:51
  doesn't shut down this presidential corruption and
• 34:54
  protect investors isn't worth the paper it's written on, man.
• 34:59
  You know, she's got a way with words and actually shouts out to
• 35:03
  some of my friends on Twitter. They're like, you know, I miss
• 35:06
  BK Opti. That was more anti regulation.
• 35:08
  And I'm like, you're missing the joke.
• 35:09
  Like you're you're completely missing the joke here.
• 35:12
  The fact that Elizabeth Warren is now throwing her hat in the
• 35:15
  ring against the Clarity Act getting pushed through that
• 35:19
  actually like makes me bullish about what is in there.
• 35:22
  Because of course, you guys know or should know, she's a part of
• 35:25
  the Senate Banking Committee. So she supposedly is here to
• 35:30
  regulate the banks. And we were always wondering
• 35:33
  like, well, you had a very stark contrast from your early Occupy
• 35:38
  Wall Street days to now basically shilling for the big
• 35:41
  banks. And as we've been covering
• 35:43
  throughout the Clarity Act poll saga, the big banks have
• 35:48
  actively been fighting it. And now Elizabeth Warren is out
• 35:52
  there on Twitter basically saying like this, this, this
• 35:55
  Act's going to be absolutely garbage because I don't know, it
• 35:58
  doesn't protect the banks enough.
• 36:01
  It makes makes me bullish. One of the things that I love
• 36:03
  about Bitcoin is that it exposes incentives. 100.
• 36:07
  Percent exposes incentives, you know, So anyways, I do want to,
• 36:12
  I'll, I'll just have this kind of playing in the background.
• 36:14
  This. We're not the only ones to come
• 36:16
  up with this thesis and their Q12026 update.
• 36:21
  Brian Armstrong, they had the CEO and Co founder of Coinbase,
• 36:25
  the chief financial officer, the president, COO, the chief legal
• 36:30
  officer. They're all in the call and this
• 36:32
  is what they said quote hundreds of large companies will
• 36:35
  integrate it will be the new Internet Coinbase just said
• 36:39
  clarity is about to quote unlock a flood of institutional capital
• 36:44
  for Bitcoin and crypto. So again, this is the this is
• 36:48
  the theory. This is the thesis because
• 36:50
  again, if you're these large institutions and you're looking
• 36:53
  at it from a risk perspective and you remember what operation
• 36:56
  choke .2 point O brought about like you kind of have this
• 37:01
  massive like you're like listen, like I, I, I'm sold on the
• 37:06
  Bitcoin thing. I, I, I do believe it's here to
• 37:08
  stay. But from a regulatory
• 37:11
  perspective, we don't really have a lot of clarity, no pun
• 37:14
  intended, right? What happens if there's a change
• 37:17
  in administration? What happened?
• 37:18
  If there's a change in the political headwinds, like what
• 37:21
  are we going to do, right? Legislation comes out and get.
• 37:25
  Exactly what the you know, clarity Act is all about, right.
• 37:29
  So again, you're hearing it from Brian Armstrong, his team at
• 37:34
  Coinbase. They're saying it simply is not
• 37:37
  saying it quote unlock a flood of institutional capital for
• 37:41
  Bitcoin and crypto. Hundreds of large companies will
• 37:45
  integrate it will be quote the new Internet.
• 37:48
  Here we go. So again, you heard it from
• 37:52
  them, you heard it from us. That was the theory.
• 37:55
  And I I I I do a lot. And, and Coinbase has been in
• 37:58
  those rooms, so it's got a lot more weight.
• 38:01
  Coinbase has been moving this completely forward.
• 38:04
  So I completely agree with that 100%.
• 38:09
  Anyways, guys, we do have, again, Frank Holmes, Executive
• 38:12
  Chairman of Hive Digital Technologies, He's going to be
• 38:15
  joining us in a little bit. We still have a lot to cover,
• 38:18
  but I want to continue this conversation regarding the
• 38:20
  Clarity Act Opti before we move on to next segment.
• 38:24
  What's your take, brother? I just, I don't think anyone
• 38:27
  even knows what's in it. So I am a bit skeptical about
• 38:30
  what you know it's going to do. And then I'm also on a very just
• 38:36
  like fundamental mimetic view of this is like the government
• 38:42
  usually any bill they pass usually does the opposite.
• 38:45
  So I am kind of pessimistic about it.
• 38:48
  I, I feel like it's going to give us less clarity.
• 38:50
  I. Think I, I, but I think there's
• 38:52
  we'll see. We'll see.
• 38:53
  There's two ways to look at it. There's you look at it.
• 38:55
  And again, Bitcoin has evolved guys like Bitcoin is now, you
• 39:01
  know, essentially in the process of being integrated into Wall
• 39:04
  Street, right? That's traditional finance is
• 39:07
  here and it's here to stay, right?
• 39:10
  This type of legislation is extremely bullish for them,
• 39:15
  right? From the retail perspective, you
• 39:18
  can see the hesitation because from the retail perspective, you
• 39:21
  know, when we started the show for us, it's very simple.
• 39:23
  You buy Bitcoin, you earn Bitcoin.
• 39:25
  You mine Bitcoin. You put that Bitcoin into self
• 39:26
  custody. Number go up.
• 39:28
  You denominate your net worth in Bitcoin.
• 39:30
  Life goes on. Do we need a law to do that?
• 39:34
  No, but. That's why I was.
• 39:35
  That's why. That's why you and I argued over
• 39:37
  the. Does that change like the
• 39:39
  fundamental protocol of Bitcoin? No, right.
• 39:43
  So if you look at it from that angle, you know, yes, it's kind
• 39:50
  of like OK, this doesn't matter. But if you have to look at it
• 39:53
  and Opti, we are maturing, we are getting bigger.
• 39:56
  Am I maturing? We do have to cover, we do, we
• 39:59
  do have to cover Bitcoin from, you know, the traditional
• 40:02
  finance perspective and from the traditional finance perspective,
• 40:05
  again, it is very bullish. Guys.
• 40:07
  We're going to be right back just after the break.
• 40:09
  We have a special guest joining us today.
• 40:12
  We have the executive chairman of Hive Digital Technologies,
• 40:15
  Frank Holmes AKA Bulldog Homes. We're going to be right back.
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  Technologies, President and CEO of Hive Digital Technologies,
• 43:54
  Idan Killick. He's going to be joining us on
• 43:56
  the show momentarily. But before we do that Opti,
• 44:00
  let's continue the. Discussion.
• 44:02
  I, I actually, I'm, I'm kind of glad we got this little.
• 44:05
  There he is. Wait, hold on.
• 44:08
  The man, the myth. Yep, the legend.
• 44:10
  OK, here we are. We have Aiden joining us.
• 44:13
  Aiden, how you doing? Hey, guys.
• 44:15
  Sorry I'm I'm biohacking right now.
• 44:17
  I'm at a I'm at a clinic getting some IDs and always hustling
• 44:22
  baby. I love it.
• 44:24
  I love. It here's all my my supplements,
• 44:27
  my neurotropics. I've got a bunch of a bunch of,
• 44:33
  you know, coenzyme Q10, zinc, phosphodyl choline, and
• 44:39
  acetylcysteine. Anyways, I'll happen, baby.
• 44:45
  I love it. I love it.
• 44:46
  I didn't huge announcement coming out of HIVE.
• 44:49
  I do want to talk about that today.
• 44:51
  Press release got released a little bit earlier today.
• 44:55
  Hive's Buzz starts building a digital superhighway for Eastern
• 45:00
  Canada's first sovereign AI factory.
• 45:05
  I didn't, if my memory serves me correctly.
• 45:07
  I think we talked a little bit about this at the Bitcoin
• 45:09
  conference. Yeah.
• 45:11
  So this is just really part of our growth strategy in HPC this
• 45:16
  year. So we've really got 2 drivers in
• 45:19
  that HPC. So first of all, broadly, we've
• 45:22
  got the dual engine strategy. Of course, can't forget Bitcoin,
• 45:25
  and we'll talk a little bit about that.
• 45:26
  And of course, on our HPCAI business, we've got the GPU
• 45:30
  cloud and then we're going to be bringing online Tier 3 capacity
• 45:36
  vis A vis through New Brunswick and that's going to be where we
• 45:39
  can entertain Co location with enterprises and hyperscalers.
• 45:44
  So we'd love to get you out to New Brunswick one day, Nico to
• 45:48
  check it out. It's a beautiful facility, 70
• 45:51
  MW, what I would describe as a military grade Bitcoin mine.
• 45:56
  You know, when I joined HIVE in 2021, it was actually to fly to
• 46:00
  New Brunswick to help Frank with diligence and I did it on
• 46:04
  advisory mandate and I spent, it was peak pandemic COVID and the
• 46:09
  site was like 10 megawatts built out and we acquired it and
• 46:14
  completed the full 70. And, and the team that had built
• 46:17
  that joined Hive. And so we've been one big happy
• 46:22
  family ever since. But we've got our own
• 46:24
  substations, we've got our own dedicated transmission line and
• 46:27
  we bought an additional 32 acres of land recently and we
• 46:31
  announced that late last year. Until the next catalyst, you
• 46:35
  need land, power and connectivity.
• 46:37
  So the big catalyst here and the big excitement is that, you
• 46:40
  know, we've been partnered with Bell Canada to advance our AI
• 46:44
  cloud and they also are going to build the fibre to the New
• 46:49
  Brunswick site. So that's really exciting and
• 46:52
  we're just going to have a lot of cool excitement, cool updates
• 46:57
  as we advance construction design and development has been
• 47:01
  well under way. So it's it's going good.
• 47:05
  We're we're really excited and it's it's going to be I think on
• 47:12
  the East Coast, especially in the Maritimes, the largest, the
• 47:15
  largest site I'm I'm aware of and certainly for AI.
• 47:19
  So this is going to be like I I mean it's it's this is the
• 47:24
  largest single site operating Bitcoin mine, I think in Canada
• 47:28
  today, Huddy back and they had the the drumheller sites.
• 47:31
  I think they shut those down and so, but when I'm talking about
• 47:36
  like proper data center in the Maritimes, I think this might be
• 47:40
  the largest. So that's really exciting.
• 47:43
  Yeah, that's, that's amazing. And this also, this news comes
• 47:47
  after the news of, of you guys being able to raise $100 million
• 47:54
  on a 0% convertible notes, which again, we haven't released this
• 48:00
  interview, but I love the interview I did with Idan at the
• 48:03
  Bitcoin conference. I got to spend some time with
• 48:06
  him as well. And yeah, this, this is, you
• 48:10
  know, that breaking news and then this breaking news are, are
• 48:15
  the 2 news connected? Is this part of the 100 million
• 48:18
  that you guys raised? I think really the the 100
• 48:23
  million, when we were raising that capital, that was the
• 48:27
  catalyst to fund 2 very large GPU cluster deals that are each
• 48:32
  going to add upwards of 60 million ARR to our GPU cloud
• 48:38
  revenues who are 35 million ARR contracted today.
• 48:42
  When we get one of these deals signing announce, it'll bring us
• 48:44
  to 100 million ARR and then we get the second deal announced,
• 48:48
  it'll bring us to over 150 million ARR.
• 48:51
  And so you know, we, we signed the Mous and, and you know,
• 48:54
  we're at the five yard line to get these formalized.
• 48:58
  And so big part of it, the catalyst that capital was to
• 49:02
  have the financing in place to put down payments on the GPU
• 49:06
  clusters 'cause we're working with blue chip lenders, we're
• 49:09
  finding the sweet spot. You know, they're, they're
• 49:10
  wanting a bit of a down payment. So if you're going to buy $170
• 49:14
  million GPU cluster, you're going to want to put 2030
• 49:18
  million bucks down cash. And so now that we have that.
• 49:22
  So if you put $20 million down on each cluster, that's 40
• 49:26
  million bucks. And so now we have that capital
• 49:30
  at 0 coupon interest with a conversion premium and the
• 49:34
  capped call 125%. So if the stock rallies, which I
• 49:39
  really think we'll have a, we'll have a RE rating once we hit 100
• 49:44
  million error, I think the stock will RE rate about 5 bucks.
• 49:49
  And I think once we exceed 150 million ARR, the stock is really
• 49:53
  consolidating a very strong bit about 5 bucks.
• 49:56
  And maybe we can do an early conversion on that capped call
• 50:00
  at a premium. And that would actually net as
• 50:02
  proceeds of 100 million cash if we were able to negotiate an
• 50:06
  early convert on that capped call because the the share price
• 50:10
  would be $4.92. And so the proceeds up to that
• 50:14
  amount from the original conversion price, I think was
• 50:17
  $2.18. Those proceeds go to us.
• 50:20
  And so we're really excited about that.
• 50:22
  But we did talk about, we did talk about some of the proceeds
• 50:27
  going towards long lead hardware for our two sites.
• 50:32
  So there's the New Brunswick site and the site by the Toronto
• 50:36
  airport that we're going to be building up as well.
• 50:40
  And so that'll be a beautiful edge site.
• 50:41
  It's about 7 megawatts, really strong demand just because of
• 50:45
  its its proximity. So, yeah, it's a oh, nice vest.
• 50:51
  Yeah. So.
• 50:52
  I love it this Apparently this is special edition.
• 50:55
  Apparently it's hard to get these so I'm very proud of my of
• 50:57
  my hive vest. Yeah, yeah, of course you.
• 50:59
  You should be, because only the executives have those.
• 51:02
  So, your extended family, Nico? I love it.
• 51:07
  I love it so I I didn't. This is incredibly bullish.
• 51:11
  How many sites does HIVE have in total?
• 51:15
  I mean if we talk about Bitcoin mining sites or if we talk about
• 51:19
  more specifically, I think what you're asking is sites that are
• 51:23
  currently active that can be converted to Tier 3.
• 51:26
  So we have the Toronto Airport site for seven megawatts.
• 51:29
  We have New Brunswick which is 70 megawatts that sites 1010
• 51:32
  times bigger. We also have both of our sites
• 51:35
  in Sweden, what we call big Bone is 32 megawatts of little Bone
• 51:39
  is 7 megawatts and we're seeing a lot of demand for those sites
• 51:43
  as well. We've actually start gone
• 51:44
  through the process of decommissioning the little boat
• 51:48
  and site, little boat and seven megawatts.
• 51:49
  But we, we've had a design build firm go through all the drawings
• 51:56
  and and permitting through late last year.
• 51:58
  And so that process is under way.
• 52:01
  And so that's in in Canada, you have New Brunswick which is 70
• 52:06
  megawatts. You have little, sorry, the
• 52:08
  Toronto airport site which is 7 megawatts.
• 52:10
  And then in Boden in Sweden, both our sites, big boat and
• 52:13
  little boat and 32 megawatts and seven megawatts.
• 52:15
  And The thing is, is I do want to clarify how this HPC Co
• 52:20
  location game works is you're effectively selling, you know, a
• 52:25
  powered shell and you are the host and you're you're hosting
• 52:29
  not for a miner. Like remember hosting was very
• 52:31
  prevalent in crypto mining, but you're hosting for an enterprise
• 52:35
  Oregon, a hyper scaler that wants to put stand up their
• 52:38
  compute and you're selling them Rackspace.
• 52:39
  So the number is behind that. It's it's dollars per kilowatt
• 52:43
  per month. So for example, and you know
• 52:45
  when you look at a cipher dealer terrible deal like all the Wall
• 52:48
  Street guys are underwriting what what is the term like is it
• 52:51
  a 15 year or ten year? And what is a dollar per
• 52:54
  kilowatt per month? And so I'll walk you through
• 52:56
  what that means. So for example, if you have a 70
• 53:00
  MW site like New Brunswick, this might be helpful for your
• 53:02
  viewers to wrap their head around the economics of HPC code
• 53:06
  and then we can talk about the GP cloud a little bit.
• 53:09
  But I do want to spend a little bit of time being in an
• 53:11
  interview just to kind of bit bitcoins having a moment.
• 53:14
  You know, we cracked ADK. So I just, you know, I think
• 53:17
  it's good to remind people of the value of Bitcoin as world's
• 53:20
  decentralized energy back currency.
• 53:22
  But let's get back to these economics really quick and I
• 53:25
  hope this is helpful for the viewers.
• 53:27
  So $150.00 a kilowatt a month is indicative for our site in
• 53:33
  Boden, Sweden, for example. And so if you have a site that
• 53:37
  is 3030 megawatts, for example, or in our case 32 megawatts, you
• 53:44
  in in when you're doing two or three data centers, you got to
• 53:47
  apply the PUE power usage effectiveness ratio.
• 53:50
  What that means is not all the power at the site can be used
• 53:53
  for compute in crypto mining, your PU ES almost one because
• 53:58
  you don't really have air conditioners or other periphery
• 54:02
  consumption of power. You just cram as many miners as
• 54:05
  possible, maybe have fans or maybe it's passively cool, just
• 54:08
  uses a the fans of the miners themself.
• 54:12
  But you have to account for, you know, all the chillers and and
• 54:15
  all of the climate control in a two or three days.
• 54:19
  And so nominally use APUV of 1.3.
• 54:22
  So for example, you know what, we can even use New Brunswick,
• 54:27
  70 megawatts divided by 1.3 is like 53 megawatts.
• 54:31
  So you could just use a round Number, say 50 megawatts.
• 54:34
  Well, 50 megawatts is 50,000 kilowatts, right?
• 54:37
  That's so New Brunswick is a secondary market.
• 54:40
  So it'd be $130.00 a kilowatt a month.
• 54:43
  So all you do is you just go, OK, well that would be 50,000 *
• 54:50
  130. You get 6 and a half million a
• 54:53
  month times 12. Well, that'd be 78,000,000 a
• 54:57
  year. It'd be a bit more than that
• 54:59
  because it's, it's, it's, it's more than 50 megawatts.
• 55:02
  I think we get closer to 55. And then if you signed a 15 year
• 55:06
  contract, that's worth 1.1 billion, right?
• 55:12
  So that that's the, that's, that's the play.
• 55:19
  That was amazing, yeah. Yeah, that math really quickly
• 55:23
  that. That was amazing on the fly.
• 55:26
  Wild biohacking. Wild biohacking I love.
• 55:31
  It getting some NAD plus glutathione, phosphatel, choline
• 55:36
  and I think I had sodium phenolbutyrate.
• 55:40
  The NAD I'm familiar with, but doesn't it give you the pressure
• 55:43
  like the chest pressure a little?
• 55:45
  Bit no, you know, shout out to Nick Hanson at Luxor.
• 55:48
  Actually, he got me onto function health, so it's 116
• 55:53
  biomarkers and I just got my test results back.
• 55:56
  My biological age is 31.8 years. Oh wow, yeah, so I did.
• 56:01
  I did a function health test recently.
• 56:03
  You're you're younger than me, 'cause mine came out to 32.
• 56:07
  Really broke, I'm 45. And I'm 34.
• 56:13
  All right now. Now I have ammo to make fun of
• 56:15
  Niko. I gotta, I gotta get, I gotta
• 56:17
  get out there, man. I gotta I gotta start listening
• 56:20
  to Opti. Yeah, yeah, you're a cook now,
• 56:22
  bro. Yeah, that's.
• 56:23
  That's why I don't drink at the conferences anymore.
• 56:25
  You always see me. I'm just like, you know, maybe
• 56:28
  if it was like the very last night was good in Vegas.
• 56:30
  But yeah, I know. Coming back on the economics of
• 56:33
  the game, then you look at the AI cloud and so with the GPUs
• 56:38
  and so GPUs is how many GPUs are you renting?
• 56:42
  So for example, I'm going to give you like very nominal
• 56:45
  figures, like say the new like Grace Blackwells that are out
• 56:48
  there, GP3 hundreds, it's more than 350, but it's like $3.50 an
• 56:53
  hour. And if you've got a cluster of
• 56:55
  like 2000 GPUs, you're doing $7000 an hour, but there's 24
• 57:02
  hours in a day. So you're 168 grand a day.
• 57:07
  That's like 61 million a year, right?
• 57:10
  So remember I said how there's large GPU cluster deals we're
• 57:13
  working on. Each one can add 60 million ARR.
• 57:17
  That's it right there. I just walked you through it.
• 57:19
  You see what I'm saying? And then but but get this, that
• 57:24
  is five megawatts, that's that's what you're getting out of five
• 57:27
  megawatts, right. So there's two different things
• 57:30
  we're contemplating. We're contemplating on one hand
• 57:35
  standing up the GPUs ourself, putting them on our cloud and
• 57:38
  and getting that very high profit density.
• 57:41
  But when you do a GPU cloud contract, you're maybe renting
• 57:44
  it for three years. So if you did a three-year
• 57:46
  contract, that'll be worth 180 million or if you did, or if you
• 57:51
  did say A5 year contract, that'd be worth 300 million.
• 57:55
  You know, so that's kind of how the GPU cloud game is, is
• 58:00
  evaluated. But for me, because Hive, you
• 58:05
  know, has expertise in building and operating engagement, but
• 58:09
  also orchestrating compute. And so The thing is, is when you
• 58:14
  look at mining in theory mining Bitcoin, we again, we're the
• 58:19
  first, I think the first public crypto miner to actually do GPU
• 58:22
  cloud going back three years ago.
• 58:25
  And we started putting our NVIDIA a 40s on the aggregators
• 58:30
  on the, on the platforms. How do you, how do you evaluate
• 58:35
  the different revenue streams? Dollar per kWh?
• 58:38
  That's the answer, right? So, you know, Bitcoin mining
• 58:41
  economics could be $0.12 a kWh, 8 cents a kWh, depending on the
• 58:46
  efficiency of the machine. It's all physics, right?
• 58:48
  So Joule per Tera hash in Bitcoin mining is energy related
• 58:53
  to compute. And then dollar per kWh is
• 58:58
  dollar per unit of energy. So you you see all ties back to
• 59:02
  energy, right? Joule per hash, dollar per kWh.
• 59:07
  So you you can bridge it all. And so the fundamental is doing
• 59:12
  a dollar per kWh analysis. And so for example, the HPC Co
• 59:18
  low, you know, it, it depends. Like it's really easy actually.
• 59:21
  I mean, if you're, if you're renting for $150.00 a kilowatt a
• 59:24
  month, well, guess what? They're 730 hours a month.
• 59:28
  So that's $0.20 a kWh. And you, you know what I'm
• 59:33
  saying? So or, or if you're, if you did
• 59:36
  like I think I think Cypher did a deal at $101.00 a kilowatt a
• 59:40
  month. And there's two things that are
• 59:42
  blowing my mind right now. OK, first of all, it's the
• 59:44
  numbers, which are very impressive.
• 59:46
  The second part is the fact that you're doing this on the fly off
• 59:49
  the top of your head, which is really, really fascinating to
• 59:54
  see. Yeah, I mean, I'm, I'm an
• 59:55
  electrical engineer. Like I I like math and I was,
• 59:58
  the nurses keep coming here too. Like what's this guy doing?
• 1:00:02
  But he's he's just on a show with thousands of people
• 1:00:05
  watching, that's all. And so at $101.00 a kilowatt, he
• 1:00:10
  used to divide by 730 hours. So that'd be thirteen cents a
• 1:00:15
  kWh. So you're not far off from
• 1:00:17
  Bitcoin mining revenues when you're doing Kolo, when you're
• 1:00:20
  doing Kolo, you know, but here's why Wall Street loves Kolo
• 1:00:24
  because it's stable, because now you're, you're signing a
• 1:00:27
  contract where it's that number, it's that $0.14 a kWh for 15
• 1:00:32
  years, you know, and, and what's the build out of that?
• 1:00:35
  OK, it's 88 million a MW, 10 million a MW.
• 1:00:38
  Different CE OS will tell you different things.
• 1:00:40
  It doesn't matter. Every project's unique is a
• 1:00:42
  Greenfield, it's battlefield, you know, how quickly you get
• 1:00:45
  into market, etcetera. There's going to be different
• 1:00:48
  factors. It's like building a skyscraper.
• 1:00:50
  The cost will vary, but say it's in that range, 8 to 10 million a
• 1:00:54
  MW, your ROI is going to be about 6 to 8 years.
• 1:00:59
  But that's OK because Wall Street's OK with that.
• 1:01:01
  They like that you got long term stable revenues.
• 1:01:05
  Here's the thing, crypto mining, you know, we always underwrite
• 1:01:09
  one year ROI, 1 to 1 1/2 year ROI after a 5 cent off X.
• 1:01:14
  And and you know, we've we've realized that, you know, we've,
• 1:01:17
  we've hit 1 1/2 year ROYS, even one year ROYS on some of the
• 1:01:22
  batches of ASICS that we hit. But Bitcoin mining top line is
• 1:01:25
  volatile. And so Wall Street doesn't
• 1:01:27
  really on a comparative basis. Don't get me wrong, in a bull
• 1:01:30
  market, they love it. Like everyone just forgets
• 1:01:32
  everything and they're like, yeah, to the moon.
• 1:01:35
  But when Bitcoin pulls back and people are like, oh, why don't
• 1:01:39
  we just, you know, invest in these businesses that can stack
• 1:01:43
  up these long term stable cash flows for 10-15 years doing this
• 1:01:47
  Colorado business. And that's why you're seeing
• 1:01:49
  some of our peers really double down, Wolf, Seifer, Hutch,
• 1:01:53
  really double down on the Colorado.
• 1:01:56
  And, and I think the idea Morgan Stanley put out this report last
• 1:02:00
  September where they're like, hey, you know, the Bitcoin
• 1:02:03
  miners, they should just do a bunch of HPC Colorado.
• 1:02:06
  And then when you sign all because convert all your data
• 1:02:08
  centres, each data centre is a contract.
• 1:02:11
  So if you've got you signed a billion dollar contract there
• 1:02:14
  and over 15 years and a $5 billion contract there, what you
• 1:02:18
  end up doing, what's your annual net operating income?
• 1:02:21
  You can add that up across all your different sites.
• 1:02:23
  Now it looks like a REIT, a real estate investment trust.
• 1:02:26
  And those get crazy multiples like digital Realty.
• 1:02:29
  So that's that thesis. But then the other thesis is
• 1:02:34
  what we are doing as well, right?
• 1:02:35
  We got 5500 GPS on our cloud now doubling to 11,000 GPS at the
• 1:02:40
  end of this year, which by the way will take us to 200 million
• 1:02:43
  ARR. We, we are the largest in Canada
• 1:02:46
  right now and I think we'll continue to grow along that
• 1:02:48
  line. We also see iron they they've
• 1:02:50
  really doubled down on the GP cloud as well.
• 1:02:54
  And people like, yeah, but you're getting better revenues
• 1:02:56
  or betting better multiples doing the Colo.
• 1:02:59
  But then you can really zoom out and say, well, like, OK, but
• 1:03:02
  then what about core weave and Nebius and Lambda?
• 1:03:05
  Like, you know, if you kind of get venerated and you're at that
• 1:03:09
  scale as AGPU cloud, neo, AGPU neo cloud, then I think the
• 1:03:14
  multiples are also super attractive.
• 1:03:15
  So I think it's just being whatever you do, you got to be
• 1:03:18
  like really good at it, right? Like you, you can chase whatever
• 1:03:24
  emerging sector is there and chase this idea of trying to get
• 1:03:28
  good multiples. But for us, it's about
• 1:03:30
  execution. It's demonstrating value to
• 1:03:31
  shareholders. Always ROIC, always ROIC.
• 1:03:35
  That's why we're always hustling.
• 1:03:36
  That's why we're always, you know, no days off, right?
• 1:03:39
  But I. No days off.
• 1:03:42
  Literally biohacking here on the show.
• 1:03:45
  Doing math. And.
• 1:03:47
  So I actually brought my mom out here.
• 1:03:48
  That's the real reason I'm out here.
• 1:03:50
  I got here out here for three weeks.
• 1:03:52
  And so the little Mother's Day gift and, and I, I'm spending a
• 1:03:56
  week out here, but you know, I think I, so, so that's, that's
• 1:04:00
  on that front. But I, I think it would be kind
• 1:04:03
  of good to take a moment just to like reflect on, you know,
• 1:04:07
  Bitcoin is, it's, it's finding its way, You know, 10-10 really
• 1:04:10
  took the wind at a lot of people's sales, but you know,
• 1:04:14
  Bitcoins starting to rally again.
• 1:04:16
  And I think, you know, I was talking with Frank earlier,
• 1:04:20
  Frank Holmes, of course, Co founder, executive chairman of
• 1:04:22
  five who I think, you know, you, you would just done a a great
• 1:04:26
  interview with him in Vegas. There's so many countries that
• 1:04:31
  have debanked people or frozen currency.
• 1:04:37
  You know, like there was like in 2013, like, and and Frank comes
• 1:04:42
  up with all this amazing research, like Cyprus in 2013.
• 1:04:48
  You know, there was there was a bunch of deposits that were
• 1:04:53
  confiscated. Zimbabwe, you know, screw, screw
• 1:04:59
  the country through hyperinflation.
• 1:05:01
  Obviously we all know about like Argentina, Venezuela, I'm half
• 1:05:04
  Turkish, but even even Turkey, you know, has had massive
• 1:05:08
  inflation. And so I think really like and
• 1:05:12
  look, even Trump, you know, prior to him becoming president
• 1:05:16
  in, in the, the prior administration, he was
• 1:05:19
  effectively D banked too. So I think that's what made him
• 1:05:23
  pro crypto. So I, I just think it's good to
• 1:05:26
  remind people how and look, even in Canada, when we had when it
• 1:05:32
  was COVID and there was the freedom rally, whichever side of
• 1:05:35
  that debate you're on, all you could do is you could look back
• 1:05:39
  at the fact pattern. And the Canadian government did
• 1:05:41
  try to go freeze bank account to people that were supporting that
• 1:05:45
  movement. And what happened to freedom of
• 1:05:48
  speech then? So you, you can't go protest
• 1:05:52
  unless it's, you know, like a bunch of lefty nonsense.
• 1:05:55
  I'm, you know, I'm more conservative, so whatever.
• 1:05:58
  But yeah, like I think that it really just shows how even a
• 1:06:02
  country like Canada, you know, can, can freeze bank accounts.
• 1:06:06
  So I do, I just really think that ultimately as as the
• 1:06:12
  world's decentralized energy back currency, Bitcoin will
• 1:06:16
  continue stand the test of time. I mean, 10/10 was was, you know,
• 1:06:20
  brutal. And I think, but that's not
• 1:06:21
  Bitcoin's fault. That's finance and that's hedge
• 1:06:24
  funds and, and you know, people manipulating, actually they were
• 1:06:28
  manipulating a stable coin, they were manipulating BSE and that
• 1:06:31
  caused all that. Can we can we do a, a deep dive
• 1:06:35
  into that item? Because it seems like you have
• 1:06:37
  more information like what? And, and Frank actually came on
• 1:06:40
  the show and he talked about it as well.
• 1:06:42
  What happened on October 10th to, to see this, this epic
• 1:06:46
  meltdown. Like what information do you
• 1:06:48
  have for the audience? So on Binance, what happened was
• 1:06:54
  there's a stable coin called BSE and and it was only traded on
• 1:06:58
  Binance. And So what this hedge fund did
• 1:07:00
  was they like very quietly accumulated a bunch of it.
• 1:07:03
  It was a stable coin and you know, people like leverage bets
• 1:07:07
  on crypto are huge. You can, you can trade futures
• 1:07:10
  on finance. You can do 3 to 1 leverage, 5 to
• 1:07:12
  1 leverage. And when finance was available
• 1:07:14
  in Canada, just, you know, war story.
• 1:07:17
  I, I, I would, this was quite a few years ago.
• 1:07:21
  I think it was like 4 years ago, maybe five.
• 1:07:25
  I was just like, oh, this you're basically just playing the
• 1:07:27
  volatility right. And and so you set up these
• 1:07:30
  short term trades over a few hours or days and if and you
• 1:07:34
  know, if it hits, if it hits the line, you win.
• 1:07:37
  But if it drops below your margin call number, then you
• 1:07:41
  know, you get wiped out. And So what happened was you
• 1:07:46
  have all these people playing these levered bets on Binance
• 1:07:49
  and what's the collateral? Well, you got to have collateral
• 1:07:53
  on Binance. And so if you're using that a
• 1:07:56
  coin like Bitcoin, and that's, you know, say Bitcoin drops,
• 1:08:02
  that's one thing. But if you're using another
• 1:08:05
  token, A stablecoin as collateral, well, what happens
• 1:08:11
  if the value of that stablecoin drops?
• 1:08:14
  And so this BSc dropped like $0.65 from a dollar because this
• 1:08:20
  hedge fund dumped it. So everyone's collateral fell
• 1:08:24
  suddenly to 65% of its face value.
• 1:08:28
  That's gonna screw up everybody's open level.
• 1:08:31
  Competitions. And so that's what caused all
• 1:08:34
  this auto deleveraging. And then to, you know, add fuel
• 1:08:37
  to the fire. There was a like the, the, the
• 1:08:42
  APIs were going down. So the market makers and, and,
• 1:08:45
  and Binance like it was, you know, there was, there was that
• 1:08:48
  issue too, really exacerbated things.
• 1:08:50
  And so the punchline is $19 billion of value got wiped out.
• 1:08:55
  That's crazy. That's the.
• 1:08:57
  Worst, like there's been, there's been few crashes.
• 1:09:00
  You know, there's a flash crash in the one like when I had a
• 1:09:05
  finance account way back when and I I lost like 15 grand going
• 1:09:09
  out to dinner. I was just like, I set a trade
• 1:09:10
  up and Bitcoin was at 60,000 and it flash crashed at 49,800.
• 1:09:15
  And it's like a needle, like you have to like, zoom in to see
• 1:09:18
  that on the chart. And like, it wasn't just me.
• 1:09:21
  Like, I think $2 billion got wiped out that day.
• 1:09:24
  So, like for people, but it doesn't, it kind of makes the
• 1:09:27
  headlines. But it's kind of like, you know,
• 1:09:29
  I feel like those are like boring headlines that people
• 1:09:32
  scroll past unless you're like a trader.
• 1:09:35
  And so you know there, look up Bitcoin flash crashes.
• 1:09:38
  There was a there. I didn't.
• 1:09:39
  There was one. I saw a Kalishi.
• 1:09:41
  I could you pull it up off? There was one last night on On
• 1:09:44
  Revolution. It it literally flat, it
• 1:09:46
  glitched, it glitched, it glitched to point.
• 1:09:48
  I'll pull it up .02 cents per Bitcoin.
• 1:09:53
  Not kidding. Yes, I'm not kidding.
• 1:09:55
  I saw the headline. It's going going to your.
• 1:09:58
  I'm I'm pulling it. Up he's pulling it up right now.
• 1:10:00
  So yeah, those flash class, those flat those flash crashes
• 1:10:04
  are brutal. But like I didn't they're,
• 1:10:06
  they're manufactured right? Like they, they do this on
• 1:10:09
  purpose. Yeah, yeah, of course, like I
• 1:10:12
  think you've got you got Wales and and, you know, hedge funds
• 1:10:17
  out there that you know, are looking at like I'm not a hedge
• 1:10:21
  fund guy. I'm I'm not a trader and so I
• 1:10:24
  can't really speak to that, but look at that, look at that.
• 1:10:33
  I yeah, they're they're they're engineered.
• 1:10:34
  And so basically the sorry, I'm, I'm just sorry, just a little
• 1:10:44
  bit of an interruption. What was the what was the price?
• 1:10:48
  Look at that I did. I have it pulled up on screen on
• 1:10:50
  Revolt. The price of Bitcoin has dropped
• 1:10:53
  to two cents. Speaking of flash crashes.
• 1:10:59
  Crazy, crazy. Of course it was a it was a
• 1:11:02
  glitch, but I'm assuming anyone that had any type of trades, you
• 1:11:05
  know OP, they they got crushed. Yeah.
• 1:11:09
  So basically $19 billion of value was wiped out.
• 1:11:16
  And then Richard Tang was on stage in Hong Kong at coin at
• 1:11:21
  consensus and he was like, oh, you know, we paid back $300
• 1:11:25
  million to the people that mattered and like, OK, what is
• 1:11:29
  that like, OK, cool. So you, you're, you're taking
• 1:11:33
  account of what that tells me is they're taking accountability
• 1:11:37
  because obviously if, if they truly felt like they weren't
• 1:11:42
  accountable, then I don't think they would have paid the 300
• 1:11:44
  million. And I guess it's admirable they
• 1:11:47
  paid the 300 million, but it doesn't change the fact that 19
• 1:11:50
  billion in value is wiped. And so let's zoom out for a
• 1:11:54
  second. The point is, is that we've
• 1:11:56
  navigated that and that was when Bitcoin was like 126,000 and
• 1:12:00
  then it toppled to like 100,000. And then I think there was just
• 1:12:03
  this hangover because it was something more that like the
• 1:12:07
  market makers and exchanges were aware of than the average show,
• 1:12:11
  obviously, like Bitcoiners and people that are really in the
• 1:12:13
  industry. But I don't think retail really
• 1:12:15
  understood that the impact and effect because it's it was kind
• 1:12:18
  of like a structural flaunt system.
• 1:12:20
  Again, Bitcoin itself is secure. Like by the way, I just did
• 1:12:24
  this. I didn't wear this shirt because
• 1:12:26
  I was doing this interview like I'm in this clinic biohacking.
• 1:12:30
  I just wear this shirt because it's high, then it's Bitcoin and
• 1:12:33
  I just wrap it daily. You know, like Frank called me,
• 1:12:36
  he was like, I didn't, do you want to do this simply Bitcoin
• 1:12:37
  interview? I said I'd absolutely love to.
• 1:12:40
  And so I just this is just how I pulled up, man.
• 1:12:43
  I didn't put this shirt on like for the interview.
• 1:12:46
  So Bitcoin is is very resilient. It's energy backed deep, truly,
• 1:12:51
  you know, it's, it's, it's I, I mean, look, I took a lot of
• 1:12:53
  physics and, and math courses. That's why I love Bitcoin
• 1:12:57
  because you can understand it at such a deep level.
• 1:13:00
  And you've got probably 30 gigawatts of power globally
• 1:13:04
  securing this decentralized network of compute that's worth,
• 1:13:07
  you know, almost a couple of trillion dollars.
• 1:13:10
  And so I, I think that there will always, there always seems
• 1:13:13
  to be the exchanges and you know it, it just always seems to be
• 1:13:17
  the exchanges that are the Achilles heel of the crypto
• 1:13:21
  industry. All that mount going back to
• 1:13:22
  Mount Gox, all the exploits are on the exchanges.
• 1:13:26
  It's the on ramp, off ramp. It's kind of like, you know,
• 1:13:28
  like how often. Oh shoot guys, I got another
• 1:13:32
  meeting. That all good, All good.
• 1:13:34
  I didn't the one, the only the legendary coming in while
• 1:13:38
  biohacking, doing math on the fly.
• 1:13:42
  I didn't kill it. Ladies and gentlemen, CEO of
• 1:13:44
  Hive Digital Technologies, go check them out.
• 1:13:46
  They're traded on the NASDAQ and the Canadian exchange as well
• 1:13:49
  the TSX exchange. I believe that's how you say it.
• 1:13:52
  So go check out the HIVE ticker. Aiden, thank you so much for
• 1:13:56
  joining us, man. I really appreciate it.
• 1:13:58
  Thank you. We'll biohack next time
• 1:13:59
  together, Nico. Absolutely.
• 1:14:01
  All right, Take it easy, Aiden. Thank you.
• 1:14:04
  All right, everybody. Well, Opti, it was a great week.
• 1:14:07
  Man, that was an epic, legendary interview of Aiden Killick from
• 1:14:12
  CEO of Hive Digital Technologies calling in from the clinic.
• 1:14:17
  That was awesome. I can't wait.
• 1:14:18
  To talk, well the chat was super hyped on the pile hacking.
• 1:14:21
  That we weren't the. Conversation was going.
• 1:14:23
  We were we were talking about supplements and stuff in the
• 1:14:25
  chat. That was out.
• 1:14:26
  That was absolutely epic. So anyways, guys, before we
• 1:14:30
  close out the show, maybe we should give away some Bitcoin
• 1:14:35
  and then I do while I pull that up, Opti, could you pull up the
• 1:14:39
  Mining Disrupt website? So yeah, that's Friday.
• 1:14:45
  Let's give away some Bitcoin. Friends over at Bitcoin.
• 1:14:48
  Well, definitely don't want to miss it.
• 1:14:52
  Ladies and gentlemen, here we go.
• 1:14:57
  Waiting for the e-mail. Here it is.
• 1:15:04
  Or we got to put some sound boards or something while I'm
• 1:15:07
  doing this. Here we go.
• 1:15:10
  Dude, you're just a boomer over here, bro.
• 1:15:13
  I can't Internet. OK, bro.
• 1:15:16
  OK. All right.
• 1:15:17
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• 1:16:00
  So get your lightning wallets ready to scan it on screen.
• 1:16:05
  I'm going to just leave it up for just a little bit and here
• 1:16:08
  we go, tossing a coin into the wishing well.
• 1:16:10
  Get your lighting wallets ready ladies and gentlemen, and scan
• 1:16:14
  the QR code. First person to scan this QR
• 1:16:17
  code has won 210 SAT's. That is today's prize.
• 1:16:22
  Do another one. Do another one.
• 1:16:24
  So we haven't. Done them in a while, we haven't
• 1:16:26
  done them in a while. We we're doing it twice.
• 1:16:28
  Yeah, why not, OK. OK, OK.
• 1:16:29
  OK. OK.
• 1:16:29
  OK. OK.
• 1:16:31
  All right, let's do that. Let's do that.
• 1:16:32
  Here we go. Here we go.
• 1:16:34
  Maybe we'll get the million SAT today and I'll steal it.
• 1:16:37
  All right, get your Lightning wallets ready.
• 1:16:39
  Ladies and gentlemen, we're tossing a coin into the wishing
• 1:16:42
  well and oh, there you go, 500. There you go.
• 1:16:48
  So guys scan this QR code if you're watching it at home,
• 1:16:52
  first person to scan it is the one who's going to get the
• 1:16:56
  SAT's. Also, I do want to Opti has it
• 1:17:00
  pulled up. I do want to give a very special
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  shout out to our sponsor, Mining disrupts.
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  We hope to see you guys there. Anyways, that was the week.
• 1:17:52
  Another week, another week under the belt for Simply Bitcoin
• 1:17:57
  Live. If you guys like the show, smash
• 1:17:59
  the like button, consider subscribing, and we'll see you
• 1:18:02
  on the next episode. Take care of everybody, have an
• 1:18:04
  amazing weekend. We'll see you on Monday.
• 1:18:07
  Today's episode was brought to you by bitcoinwell.com, a
• 1:18:10
  Bitcoin only platform on a mission to enable financial
• 1:18:13
  independence.