Latest / Simply Bitcoin / Worlds LARGEST Sovereign Wealth Fund Secretly Buying Bitcoin!! | EP 1308

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Worlds LARGEST Sovereign Wealth Fund Secretly Buying Bitcoin!! | EP 1308 · Simply Bitcoin

• 0:00
  The world's largest sovereign wealth fund with $1.9 trillion
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  of assets just got exposed for quietly buying more Bitcoin this
• 0:09
  week. But remember, they're not the
• 0:10
  only massive wealth fund buying Bitcoin.
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  The UAE bought over $400 million worth of Bitcoin earlier in the
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  year. The real question is how long
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  will it take before the entire $13 trillion sovereign wealth
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  fund market is buying Bitcoin or rather getting exposure to
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  Bitcoin There. There is a a little bit of a
• 0:30
  nuance here. And then of course I'm here with
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  the wonderful, the smart, the new superstar here of simply
• 0:37
  Bitcoin Internet Sophie, AKA the better half of Nico.
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  Anyways, let's get into this news story.
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  So I am going to go through a little saga here to start off
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  with. So you can see here is a
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  headline. This is on Yahoo news.
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  It got it just dropped this morning, but it's really coming
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  through from Bloomberg and I, I think this headline is a tad bit
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  misleading. It does sound really good.
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  If you are, you know, maybe, maybe you're from Norway and
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  you're like, yes, this is great. So Norway's $1.9 trillion fund
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  has best quarter since 2023. Just kind of reading it.
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  Norway's sovereign wealth fund enjoyed its best quarter since
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  last 2023, returning 6.4% in the second quarter, propelled by
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  stock market gains. Equities drove the results, with
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  unlisted infrastructure investments generating 8.1%.
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  I'm going to butcher this guys, sorry.
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  Norge's Bank Investment Management said in a report on
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  Tuesday fixed income and unlisted real estate had a small
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  positive contribution. The world's largest wealth fund
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  owns about 1.5% of listed stocks globally.
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  More than 2/3 of the fund is in equities, all outside of Norway.
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  And then you can see some of its top holdings are NVIDIA, Apple,
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  Taiwan Semiconductor, Tesla, Berkshire Hathaway, and of
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  course others. They, they have a they have a
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  lot of holdings here. And then over the same period,
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  the fund reduce its ownership in Microsoft Alphabet, Meta and
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  Broadcom Inc. Now, of course, this isn't why
• 2:02
  we're, we're we're really talking about this is because
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  they just been exposed for having indirect again, it's
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  indirect exposure to Bitcoin, but it does kind of send a
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  signal to the market out there. I think what we've been saying
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  on the show for the last couple of weeks, we've been kind of
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  going through the paces here rather maybe wrapping our our
• 2:23
  heads around this idea of is big Bitcoin going mainstream.
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  It really does feel on a gut level that Bitcoin is entering
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  the mainstream. Of course, we've been covering
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  them on the show for the last couple of weeks like retail is
• 2:36
  nowhere to be seen. Institutions are eating retail's
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  lunch right now. They're going head first into
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  Bitcoin. They're doing front flips into
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  Bitcoin right now, whether it's corporate treasury exposure,
• 2:47
  Bitcoin ETFs, or buying Bitcoin themselves.
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  And it seems like either retail can just be kind of, you know,
• 2:55
  cornered into the ETF markets or, you know, Main Street is not
• 2:59
  here. Maybe the fabled 100K number
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  that we thought was going to get people to dive into Bitcoin
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  wasn't the number at all. Maybe we need to get to like
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  203100K before people start carrying and we start seeing,
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  you know, the shoeshine boy on the street talking about buying
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  Bitcoin. But I'm over here on the Coin
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  Telegraph and this is where it gets pretty interesting.
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  And the headline is world's largest sovereign wealth fund
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  grows indirect Bitcoin exposure by 153%.
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  Now, I think if this was just a story itself, just indirect
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  quote, indirect Bitcoin exposure, it it would probably
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  be a nothing burger. The real interesting part about
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  this is that 153% gain or increase in their holdings here.
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  So Norway's sovereign wealth fund managed by again, Norwich's
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  bank investment management has positioned in MicroStrategy,
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  Square, Tesla, Merrill Holdings, Riot Platforms and Coinbase.
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  That's, you know, that's a bouquet of Bitcoin companies
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  here and here. Actually, let me just go over
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  here to this tweet right here, 'cause this is where the the
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  news really dropped. So we have, again, I'm going to
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  butcher that your name, I apologize.
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  Velte Lund, who's head of research at K 33 Research, which
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  is this Norwegian sovereign wealth fund.
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  It's actually the digital asset swing of it.
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  And, and I'll kind of breakdown what, what exactly is going on
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  with this quote, world's largest sovereign wealth fund 'cause
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  when I looked into that, I was like this K 33 is not the
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  world's largest sovereign wealth fund, but the Norgis, sorry, let
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  me, let me look this Norgis Bank investment management is and
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  there's some interesting kind of leads there, some interesting
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  rabbit holes that we are going to go down in a minute.
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  So here we go. Velti Loon goes NBIM again,
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  Norgis Bank investment Management, they have indirect
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  Bitcoin exposure as it hits a new all time highs of 7161
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  Bitcoin and he goes, this is my favorite chart to update
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  Whenever the world's largest sovereign wealth fund discloses
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  holdings, it efficiently shows that Bitcoin is finding its way
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  into any well diversified portfolio, deliberate or not.
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  Again, that is the key right now what we've been seeing the last
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  couple of weeks is this trend here where we saw people kind of
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  talk about hey, you know, you don't want to touch Bitcoin to
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  actually, you know, we'll let you guys buy Bitcoin ETFs and
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  then oh wait, actually corporate Bitcoin treasuries are all of
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  the rage now or you know, actually we don't really like
• 5:25
  Bitcoin, but we'll buy a huge position in strategy, which is
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  basically just Michael Saylor buying a bunch of Bitcoin.
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  So whether they're directly, you know, handling Bitcoin
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  themselves, which I know you guys in the chat are like this
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  isn't good enough. They need to be holding spot
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  Bitcoin. This is how we really get the
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  revolution going. This is why there's we're
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  calling this paper Bitcoin summer is because they're not
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  actually buying Bitcoin. Now I will kind of break that
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  down in a minute, but this point remains the same.
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  We're seeing people recommend larger and larger portfolio
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  allocations to Bitcoin. It used to be don't touch it,
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  then 1 to 2%, then 15. Now we're seeing crazy numbers
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  like 40 to 80% Soon I'm sure everyone is going to figure out
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  the Michael Saylor strategy and do the what's a triple maxi 150%
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  portfolio allocation, which is just like unheard of, but we're
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  seeing it happen anyways. He goes on and goes increase
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  weights in core treasury vehicles such as strategy and
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  Mara and the overall strong Bitcoin accumulation from
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  treasury companies has fueled the H1 growth of 3340 Bitcoin
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  top five contributors to NBIMS increase Bitcoin exposure is a
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  core strategy Mara block Coinbase and metaplanet.
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  It's sounds like a a bitcoiners portfolio here, but here you can
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  see this chart. I'll zoom in here.
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  You can see from June 30th 2024, they had indirect Bitcoin
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  exposure of 2446. Now as of June 30th 2025, they
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  have 7161 again. Actually this says 192% growth
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  here. So looks like Coin Telegraph is
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  off a little bit and I'm going to take a loon's take here,
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  which is very interesting here. So again, going into this kind
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  of a little bit and breaking down exactly what the the
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  connection is with K-33 and Norges Bank investment
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  management. It is a branch of the Norges
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  Bank responsible for managing the government pension fund
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  global, often referred to as the Norwegian oil fund.
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  Its main goal is to ensure the long term management of Norway's
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  oil and gas revenues so that the wealth benefits both current and
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  future generations of Norwegians.
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  And again here we go from the website about the fund.
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  The government pension fund global was established after
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  Norway discovered oil in the North Sea.
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  The fund was set up to shield the economy from ups and downs
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  in oil revenue. It also serves a financial
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  reserve and has a long term savings plan so that both
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  current and future generations of Norway get to benefit from
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  our oil wealth. You know in 69 it says one of
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  the they found one of the world's largest offshore oil
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  fields was discovered in Norway and then slowly but surely
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  around the 90's, the Norwegian region Parliament passed
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  legislation to support creating the quote government pension
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  fund global and now they are diversifying in K-33, which is
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  like the digital asset wing under the Nords bank investment
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  management is is getting a lot of Bitcoin exposure here.
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  Now I know what you guys are saying here you're like whatever
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  they they're not actually buying Bitcoin.
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  It doesn't really matter man. This is paper Bitcoin.
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  Why you guys covering this is because the point remains the
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  same guys as as of now at the point of the story that we are
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  currently in, you're starting to see a very interesting trend
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  that a lot of these institutions aren't actually maybe
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  comfortable with fully just buying Bitcoin in bulk.
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  Yes, they'll get maybe some Bitcoin ET FS.
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  Like we just covered, we have Ivy League's buying Bitcoin ET
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  FS. We have sovereign wealth funds
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  around the world buying the Bitcoin ET FS.
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  But again, the new rage right now is the corporate Bitcoin
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  strategy. And I think the tacit approval
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  of of buying a huge position in strategy, which is of course,
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  Michael Saylors company that all he does is buy Bitcoin and makes
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  all these different products to tap into different markets
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  around the world, different different markets that basically
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  have, you know, trapped capital. I think this is the tacit
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  approval that we're seeing. I think this is kind of the the
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  trend that we're going to see for a little bit that they're
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  not going to fully go all in on Bitcoin, but they will buy
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  quote, UN quote Bitcoin exposure companies.
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  And I think this is huge. Again, we've seen sovereign
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  wealth funds dive into this. We've heard the conversations
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  come out of the United States saying that, hey, we're going to
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  literally create a sovereign wealth fund just to buy Bitcoin.
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  We've heard talks about strategic Bitcoin reserves.
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  Well, now we have the world's largest sovereign wealth fund.
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  Of course, a subsidiary of that or maybe it's it's maybe
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  subsidiary is not the right word here, but a portion of that
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  sovereign wealth fund doing a deep dive into Bitcoin exposure
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  into indirect Bitcoin exposure. And I and I think if you kind of
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  break down the mathematics, this is their, you know, the shares
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  that they hold at strategy and of course, sailors been very big
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  on Bitcoin per shares and so they have a bulk size here.
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  This is a big position in strategy.
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  I think this is, you know, the trend that we're going to see.
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  Now. The interesting part to me
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  though, is this idea that they this sovereign wealth fund for
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  Norway was created out of the oil and gas industry.
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  And this is one of the conversations that I've been
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  having on the show for years now.
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  My boy Nolan count BTC over at the great awakening has been
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  talking about for a while. When Bitcoin crosses that
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  Rubicon and is the real price for energy, that's when this
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  quote hyper bitcoinization happens.
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  And now I think, I think seeing a wealth fund that is literally
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  built on oil and gas embracing Bitcoin mining companies,
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  Bitcoin accumulation companies, soon enough we'll probably be
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  acquiring Bitcoin. I, I actually they already do
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  have a little bit of Bitcoin. Here, let me, let me, let me get
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  you this 'cause I did see this this morning while I was looking
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  for a different news story this morning on Bitcoin treasuries.
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  Let me find this for you here, guys.
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  They have, I believe it was 138 or 128 Here, Let me let me see.
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  Yeah, here we go. K-33 with 126, so they hold
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  15,000,000 right now in Bitcoin currently.
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  I'm sure we will see them go in force here later.
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  Of course, I think when we go back to this headline here,
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  they've had their best quarter since 2023.
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  Is that a coincidence that this is also when they're expanding
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  their position in strategy? We've seen what Michael Saylor
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  has done to Wall Street. It's been the best performing
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  stock period. And now the headline is, oh,
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  Norway's, you know, $1.9 trillion fund has its best
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  quarter since 2023. And then when you really look
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  into it, it's like, Oh yeah, it's because they are getting,
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  quote, indirect Bitcoin exposure.
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  So I think this trend is going, oh, oh, sorry guys, I didn't
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  show you. All right, let me, let me show
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  you. So you guys don't think of that.
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  I'm that I'm lying lying here. You can see here Bitcoin
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  treasuries K 33126 Bitcoin here. So you know, it's not a Michael
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  Saylor 600 plus position in Bitcoin, but they do hold spot
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  Bitcoin. They are all in on strategy and
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  they hold some of the top Bitcoin mining companies.
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  They hold square and of course Coinbase.
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  So look, this may not be perfect news for you guys in the chat
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  because you want to see a bulk buy of Bitcoin again, because we
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  want to see the price come up. We're just like, can you guys
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  buy Bitcoin on the open market here?
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  But I think this is just kind of the trend we're going to see
• 12:52
  right now. A lot of stealth buying or this
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  quote indirect Bitcoin exposure. I think this is this is one of
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  these moments again, I said it yesterday, 2025 is going to be
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  the year that Bitcoin does enter the mainstream.
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  And now we're just getting more and more data points to I think
• 13:07
  confirm that that view here now, will we get a great Bitcoin bull
• 13:12
  run is still up for debate. As Nico keeps saying on the
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  show, we've had the most bullish news cycle period.
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  And yet the Bitcoin price, I think we started the year like
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  109 and we're at like what, 118 right now?
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  We're doing great. Yeah, OK.
• 13:28
  We're doing I can't complain and to be honest, I feel like all of
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  these, you know, huge this is a public fund, right?
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  This is Norway state fund, pension fund, right?
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  I think honestly, this is my take.
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  They just indirectly orange peeled the entire population of
• 13:47
  Norway. If they see that, you know,
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  their pension fund is going up and that you know this long term
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  preference strategy is going to benefit them in the future, then
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  they might be thinking, well, if the state is doing it, then
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  maybe I should do it. And it just starts the process
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  of dipping your toes into the rabbit hole and finding out
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  like, what is this thing that I'm actually investing in?
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  And you know, that might lead to actual self custody down the
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  line. Who knows?
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  But the point is that at the end of the day, these sovereign
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  wealth funds, these big institutions, the government,
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  AKA the man, these are the people that have the money
• 14:30
  printer to buy to make these bulk purchases.
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  Sorry, I went blank there. My kid is distracting me.
• 14:40
  She's like, please come get me. But anyway, they're the ones
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  that have the money printer and the power to kind of make these
• 14:46
  bulk purchases. And so eventually we are going
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  to see that reflected in the price.
• 14:51
  In my opinion, we just have to kind of be patient.
• 14:55
  I I just think that it's great that we're moving in the right
• 14:57
  direction and it's better than, you know, one of these states
• 15:01
  saying, hmm, actually like we think this is all garbage and
• 15:05
  we're not going to buy any of it at all.
• 15:08
  It's not ideal for the typical Bitcoin maxi.
• 15:11
  Obviously we would like people to have their own Bitcoin in
• 15:14
  self custody, but if government start to do it, it might get
• 15:18
  people comfortable with the idea of starting to accumulate some
• 15:22
  for themselves. And that's all I can ask for.
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  Like yes, we want the price to go to 500K right now.
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  Yes, we want the United States to go all in on Bitcoin and we
• 15:33
  want the rest of the world to follow.
• 15:34
  But these things take time. You know, Rome wasn't built in a
• 15:38
  day as they say. So I'm I'm OK with being
• 15:42
  patient. I think Bitcoin has tempered me
• 15:45
  to having a long time preference mentality and this is just part
• 15:50
  of it. Yeah, no, 100%.
• 15:52
  And and Sophie, I think you said something, there's actually one
• 15:55
  point you said, but I think it, it makes 2 really important
• 15:58
  points here. One, we've been waiting here at
• 16:01
  simply Bitcoin and I know everyone in the chat we've we've
• 16:04
  all been waiting to see the nation state race kind of break
• 16:08
  like go into hyper speed here. And I think we're we really are
• 16:12
  starting to see this. Look, love or hate orange man,
• 16:15
  love or hate President Trump, but ever since he came out and
• 16:19
  said we're going to not only acquire a Bitcoin strategic
• 16:23
  reserve, but we're gonna create a sovereign wealth fund just to
• 16:27
  acquire digital assets, we've starting to see the dominoes
• 16:30
  fall. We've seen it happen in the
• 16:32
  Middle East. Now we're seeing this play out
• 16:34
  in Norway. And the second part.
• 16:36
  So if you said maybe Norway will orange pill all of you know, the
• 16:40
  whole country of Norway. I think going a little deeper,
• 16:44
  sailor's been doing like the Lord's work here, like just by
• 16:48
  his company becoming one of the most profitable companies in the
• 16:51
  world. Everyone on Wall Street, every
• 16:54
  institution around the world, every place that trades
• 16:58
  financially has to look at this and, and begin to wonder and ask
• 17:02
  themselves what is what is going on here?
• 17:05
  How can you just acquire Bitcoin and, and become, you know, gain
• 17:09
  what was it like 70 billion? I think actually, I think it was
• 17:11
  $60 billion in profit. What's a, what's a couple
• 17:15
  billion between friends? And so this is, I think what
• 17:19
  we're seeing right now. Look, of course our, our job
• 17:23
  here is to get as as stupidly bullish as possible, but really
• 17:26
  try to be as as honest and truthful as we can.
• 17:30
  And of course, you guys yell at me all the time.
• 17:31
  It's like Opti, you said this like 3 months ago.
• 17:34
  I'm like, we're getting new information, OK, I'm updating as
• 17:36
  we go. They I'm, I'm a, I'm a human
• 17:38
  too. And the new information is just
• 17:41
  an accumulation of more nation states, more institutions, more
• 17:44
  individuals, powerful rich individuals buying Bitcoin.
• 17:48
  So it really is all bullish here.
• 17:51
  Yeah, 100% and actually we got AI think we got an insider over
• 17:54
  there in Norway and he goes no one in Norway talks about
• 17:56
  Bitcoin. Everyone is just comfortably
• 17:58
  numb at this point. Roof wreck absolutely wrecked.
• 18:02
  Well, at least you know the people that are handling your
• 18:04
  sovereign wealth fund know what what time it is.
• 18:06
  So hopefully more people will get orange peeled like Sophie
• 18:10
  was saying, if you're looking at this and you, you know, you're
• 18:14
  also a sovereign wealth fund or you are maybe a more savvy
• 18:18
  Norwegian, you're looking at your for your country sovereign
• 18:22
  wealth fund and you're, you dive into and you're like, how did
• 18:25
  they have their best performing quarter in two years?
• 18:29
  And you dive deeper and it's like, oh wait, they just got
• 18:31
  Bitcoin exposure. Maybe, maybe it'd be smart if I
• 18:35
  got Bitcoin exposure. Even be that optimistic, maybe
• 18:38
  they see, OK, you know, Nvidia's doing well, the market's doing
• 18:41
  well in general. But when you look at at like the
• 18:45
  outstanding asset here it is Bitcoin.
• 18:49
  And I think that that's going to become a lot more relevant as
• 18:53
  the price goes up. You know, if we get these rate
• 18:56
  cuts and we see the price pump between September and December.
• 19:01
  Yeah, totally. Sorry, Jack distracting me.
• 19:05
  Oh, Ron, Ron P Niko saw the viewership numbers after, so we
• 19:09
  took over a spot and capitulated.
• 19:11
  No, guys, he's at, he's in Finland right now.
• 19:15
  He's at an important dinner. He's hanging out with some
• 19:18
  awesome bitcoiners right now. So, you know, we, we got to keep
• 19:21
  the show going. Guys.
• 19:23
  You, you, you already know the deal, man.
• 19:25
  Yeah, guys, I am. I'm also human, OK?
• 19:27
  I'm I'm not perfect. Actually Nico was dying to be
• 19:30
  here but. Yeah, we, he, he, he, he was
• 19:32
  dying. To be somewhere else.
• 19:33
  Yeah, he had, Yeah, an important dinner, some, some really big
• 19:36
  name Maybe, maybe I'll talk about it tomorrow.
• 19:38
  He should be here tomorrow. And then I think he's going to
• 19:40
  be off Thursday again because of another conference.
• 19:42
  And then he should be back Friday.
• 19:44
  I don't know, guys. I might, I might be doing the
• 19:46
  rest of the week here. All right?
• 19:47
  Me and Sophie might be doing the the rest of the week carrying
• 19:50
  this. Yeah, we might be.
• 19:51
  Yeah, exactly. But Luke might.
• 19:53
  Maybe I'll get Luke to fill in a day.
• 19:55
  But I I do want to before I before I move on.
• 20:00
  People are asking me, do we have any news on the Nakamoto buy?
• 20:03
  So I looked at this right before we went live and it looks like
• 20:07
  David Bailey said he's going to go dark for now.
• 20:10
  So from what I'm from what I can read into this, it seems like
• 20:15
  he's probably trying to fill that position right now and I
• 20:18
  don't know if you guys saw the price action last night.
• 20:21
  It dumped basically I I forget what the number was I I guess I
• 20:24
  could look it up. I.
• 20:25
  It dumped. We're at 119 K as.
• 20:28
  You can tell I really don't look at the price as closely as you
• 20:31
  guys might think. I do everyone always like you
• 20:34
  look at the Bitcoin price every day on the show.
• 20:36
  I'm like, yeah, that's that's usually where where I look at
• 20:39
  it. So we are it, it dumped to about
• 20:43
  118 yesterday and then it got, yeah, it got to the 118, the low
• 20:48
  1 eighteens and now we have rebounded back up to the one
• 20:52
  19120. That's not a dump.
• 20:55
  Yeah, that's not a dump. It's it's, yeah.
• 20:56
  It's a little, it's a little, it's a little like molehilled.
• 20:59
  It's a little blip, but oh, actually you guys didn't see it.
• 21:02
  Sorry. So we don't have any news right
• 21:06
  now, but kind of digging into it a little deeper as probably
• 21:10
  everyone can guess, I don't think they're gonna be buying
• 21:13
  Bitcoin on the open market, guys.
• 21:14
  They're probably gonna do some kind of OTC fill here.
• 21:17
  So it's probably not going to move the market as much as you
• 21:21
  might believe it would. Wait so are they not live
• 21:24
  streaming it? Now, well, I think they have it
• 21:25
  in like from what I saw, they're they're gonna have a team
• 21:29
  recording it. I don't know if they're gonna be
• 21:30
  live streaming the actual buy here, but if we get some news
• 21:35
  maybe, maybe during the breaks and stuff, I, I will check the
• 21:38
  Twitter accounts again, check, check the Twitter timelines and
• 21:40
  maybe we can get an update on it.
• 21:42
  But from my vantage point, it seems like they are probably
• 21:45
  currently trying to fulfill that order right now.
• 21:48
  Again, it's six $760 million. It was rounded up to a billion
• 21:52
  dollars, but they're coming out of the gate really strong again.
• 21:55
  The corporate Bitcoin treasury strategy is all the rage right
• 21:59
  now and if they are actually acquiring this much Fiat to buy
• 22:05
  a smash buy Bitcoin, it's not that they're going to buy it on
• 22:08
  the open market. They're obviously going to go to
• 22:10
  OTC desk and and try to buy in bulk.
• 22:12
  So they or maybe they do some like T Wob, which is what is it
• 22:15
  time waited? I I'm I'm blanking on what T wap
• 22:18
  is. I always forget what this is
• 22:21
  time weighted average price where they kind of, you know,
• 22:24
  buy in small increments. We've seen there has been some
• 22:27
  days where the market structure it looks a little fishy and
• 22:30
  that's because they're they're basically using algos to buy
• 22:33
  Bitcoin. So if you see some like hourly
• 22:35
  candles that are just like constantly up and to the right,
• 22:39
  just just think of it's most like an an algo buying Bitcoin
• 22:43
  right now. So they could be buying it on
• 22:45
  the open market, but in very small amounts, which is why we
• 22:48
  probably haven't heard anything. I, I think they're probably
• 22:52
  buying OTC, but again, we, we really don't have any
• 22:55
  information on what they're doing.
• 22:57
  I'm sure we'll see something later on today.
• 22:59
  Maybe they'll announce something at end of day close to like 5:00
• 23:03
  PM Central time, Eastern Central time.
• 23:06
  Oh, wait, what am I saying? 5:00 PM Eastern Time.
• 23:10
  Maybe we'll get some more news on on this once the you know,
• 23:14
  quote on quote day ends. It could be later, who knows.
• 23:17
  So we really have no update guys.
• 23:19
  There's no update on this yet. David Bailey tweeted earlier
• 23:23
  today. I think like an hour ago.
• 23:24
  I'm going dark. I will I'll come back and talk
• 23:27
  to you guys in a little bit. So that's the only update we
• 23:29
  have here guys. So on that note, I do want to
• 23:32
  remind you guys to smash the like button subscribe to simply
• 23:35
  Bitcoin. We're dropping the dopest
• 23:37
  content. Sophie's going to drop another
• 23:39
  video tonight. She actually she's been working
• 23:41
  double time today. She she recorded it right before
• 23:43
  we went live. It's not gonna be the same show.
• 23:46
  She she did some great work on that one.
• 23:48
  And then of course, guys comment on the video.
• 23:50
  Let us know what you think about the show, not just this show in
• 23:52
  particular on simply Bitcoin in general.
• 23:55
  We really appreciate all the love from you guys And hey, we,
• 23:58
  we, we even appreciate all the hate engagement.
• 24:02
  It's it's all it's all engagement to us.
• 24:03
  OK, so don't. Forget to hate with your
• 24:05
  friends. Share the video.
• 24:07
  Yeah, exactly. Share the.
• 24:08
  Video with everyone you wanna talk.
• 24:11
  Exactly and on that note guys, I do want to give a huge shout out
• 24:15
  to our partner Bitcoin. Well, the best place to buy your
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  And and I hear you guys in the chat.
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  I think we have some very interesting news coming up
• 24:39
  pretty soon. I know they're working on some
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  cool features on the back end that I think you guys are going
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  to really, really love. They they heard the feedback.
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  You guys could probably guess what that is, but of course
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  smash the wait, scan the QR code or actually guys you got to
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  watch this show on your television so you can scan and
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  the QR code with your cell phone.
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  This is the this is peak performance here.
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  Anyways, if you scan this QR code you will sign up.
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• 25:30
  So it could be you. And then again, if you are on
• 25:33
  the sidelines right now, I don't know what you're doing.
• 25:36
  Maybe maybe you just randomly stumbled into the show and
• 25:40
  you're like, you know what this sovereign wealth funds getting
• 25:43
  Bitcoin exposure. Maybe I should too.
• 25:45
  And you have $50,000 liquid on the sideline trying to smash buy
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  for generational wealth. OK guys, on that note, let's get
• 26:16
  into the show. Actually, first news story guys,
• 26:19
  it's going to kind of be a bummer, I'm not going to lie.
• 26:21
  But later on I I got some good stuff for you guys.
• 26:24
  And then I'm bringing back the real estate debate here.
• 26:27
  I know I don't have Nico here to talk about renting versus
• 26:30
  buying, but we haven't. Yeah, exactly.
• 26:33
  Maintaining a home and how annoying it is.
• 26:35
  But we have, you know, one of the legendary investors
• 26:38
  essentially saying what we've been saying here guys, we just
• 26:41
  so vindicated on simply Bitcoin. Somehow the people with 42 Iqs
• 26:46
  and dropping understand what's going on in the markets better
• 26:49
  than, you know, the people. That's job it is to do this.
• 26:52
  So I got some total vindication. We're going to take a victory
• 26:55
  lap here today. Anyways, let's get into the
• 26:56
  show. I want to give a shout out to
• 27:05
  our partner Stamp Seat. Is your Bitcoin and cold storage
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  stampseed.com store. Yeah, yeah.
• 28:19
  Sorry, sorry guys. Listen the disrespect today.
• 28:25
  Sorry guys, we're laughing at the Rumble.
• 28:27
  Comment this. Yeah, you guys are.
• 28:30
  You guys are hilarious Yeah, go on Rumble.
• 28:33
  See Sweet. You're killing me right now.
• 28:35
  That sorry guys, that was unprofessional.
• 28:37
  I I I should I should anyway. Anyways, let's keep it moving.
• 28:41
  But we do. We got we got some funny
• 28:43
  comments, guys. Mikado lost stumble in the
• 28:47
  profits with simply Bitcoin. This is the way All right, guys.
• 28:50
  Anyways, jeez, you C-Suite, you're killing me right now.
• 28:53
  Anyways, I'm over here on Clark Moody's dashboard,
• 28:56
  bitcoin.clarkmoody.com, where you can look at, you know, all
• 29:01
  the different numbers on, on Bitcoin's time chain.
• 29:03
  If, if you want to kind of look into what's going on with the
• 29:06
  network, you want to do a little little refresher.
• 29:09
  Maybe you're unfamiliar with a lot of this stuff.
• 29:12
  You know, Bitcoin is, it's open for everyone to see.
• 29:15
  You can, you can evaluate what's going on the network, You can
• 29:17
  audit the network. Oh, well, you need a node to
• 29:20
  actually audit the network. But you can see what's going on
• 29:22
  with the numbers. Anyways, current Bitcoin price
• 29:23
  is $119,680, which is a decline of 2.70%.
• 29:31
  So we are down -2.7% from all time highs.
• 29:36
  Everyone was thinking, you know, you guys are getting super
• 29:38
  bullish in the chat yesterday, like we're going to hit all time
• 29:41
  high today. We didn't do that.
• 29:43
  So remember we, we said all time high by end of week, maybe maybe
• 29:47
  Soph should drop the pole, drop the pole right now.
• 29:49
  So will we break all time high by end of week?
• 29:52
  And I'll continue on these numbers.
• 29:53
  We're currently at block height of 900 to 9716 and the market
• 29:58
  cap is $2.38 trillion. Bitcoin versus gold market cap,
• 30:03
  we're at 10% of gold market cap. Actually I I wasn't going to
• 30:07
  bring this up on today's show cuz cuz we kind of covered this
• 30:11
  in the past, but Bitcoin market cap has officially passed
• 30:19
  Amazon. We are now officially the 6th
• 30:23
  largest asset by market cap, as you can see here.
• 30:27
  Let me see if these numbers are, yeah, 2.381.
• 30:31
  It's Yep, 2.381. So I, someone can maybe do some
• 30:36
  quick mass here, but at a, we'll say $2.48 trillion market cap,
• 30:41
  Bitcoin will pass Google or Alphabet and we'll be securely
• 30:46
  in the number 5 position. And then it's gonna be a little
• 30:49
  while till we get past Apple and Microsoft and NVIDIA.
• 30:52
  And then it's, it's gonna be, it's gonna be a generational run
• 30:55
  until we get to Gold's market cap.
• 30:57
  But who knows, who knows, maybe it's just gonna be another cycle
• 31:00
  here. But again, since I just covered
• 31:02
  the market cap, we, we are securely in the number six
• 31:05
  position right now. So any moves from here we'll
• 31:09
  probably be jumping Google here all right well there that was
• 31:13
  some bullishness for you now I have a lot less bullish takes
• 31:18
  here guys. I think we might have just got
• 31:21
  hit by another inverse Kramer and you guys know what that did
• 31:24
  last week. This one might be more fatal.
• 31:28
  I'm not Let me just play and then we'll chat about it like
• 31:30
  you know me. I'm as bullish as they come, but
• 31:32
  I'm. Also.
• 31:33
  Superstitious. So superstitious.
• 31:36
  So here we go. Jim, Bitcoin's on the move
• 31:39
  today. A lot of the crypto stocks as
• 31:41
  well. We're not quite back to 123 K
• 31:44
  it. Just continues to be anytime you
• 31:47
  ever hear about what size the the deficit is or David, you
• 31:51
  know that the trillions of dollars in the interest has made
• 31:54
  a lot of younger people feel, you know this and Ethereum are a
• 31:57
  better place to be. I'm a huge believer in this by
• 32:00
  the way, because I have very little faith that we're going to
• 32:02
  be able to grow our way out of. I cannot think about what's how
• 32:05
  we're going to grow our way out of our situation yet.
• 32:07
  Maybe you mean our, our debt, our debt to GDP.
• 32:10
  I've not I've not been able to figure out a way.
• 32:12
  So it's a great hedge against the, IT conceivably is if there
• 32:17
  is, but if there's financial Armageddon.
• 32:21
  They can't believe that it makes sense.
• 32:23
  Guys, they just said Bitcoin is a hedge against financial
• 32:27
  Armageddon. Like if I if I wasn't so yeah,
• 32:32
  exactly. If I wasn't so superstitious
• 32:35
  around the inverse Kramer, I would say this is a bullish
• 32:38
  clip. Like, yes, we got, you know,
• 32:41
  CNBC saying what we've been saying for a long time now.
• 32:45
  I'm like, guys, we might have a zero, we might find a zero day
• 32:50
  flaw. No, no, I'm trolling that that
• 32:52
  that was too much. I'm trolling here, but.
• 32:54
  Listen, I'm a. Catholic.
• 32:56
  I believe in forgiveness and redemption.
• 33:00
  Maybe Bitcoin is the thing that heals the Kramer.
• 33:04
  The inverse Kramer curse. Could it be?
• 33:08
  I don't know. Everyone is saying Dang, damn
• 33:11
  you Kramer. No, not the Kramer effect.
• 33:14
  Guys, hold on. Yeah, Opti's def superstitious.
• 33:19
  Opti's self has witch instincts. Also, Opti AI is a demon.
• 33:23
  All true, All true. Point at the lie.
• 33:26
  You know, because I I've been saying that on the show for a
• 33:30
  minute. Yes, you know, I that's how you
• 33:33
  know I have a 42 IQ. I'm very superstitious.
• 33:36
  Listen, I think that Bitcoin's gonna heal Kramer.
• 33:38
  I think his grandpids are probably like.
• 33:41
  Here we go. Even broken clocks get it right
• 33:43
  sometimes. Twice, actually.
• 33:46
  Yeah, so, but I mean look to be to be a little less cynical and
• 33:51
  and less trolley about it. I do actually agree with him,
• 33:55
  which is probably the worst part here.
• 33:57
  Like he said some interesting stuff and and maybe Sophie's
• 34:00
  right. Maybe there is some redemption
• 34:02
  here. I do believe in redemption as
• 34:04
  well. Maybe maybe he got the call.
• 34:07
  Maybe he's getting the tap on the shoulder here and he's like,
• 34:09
  all right, unleash, unleash the normies onto Bitcoin.
• 34:13
  He starts embracing Bitcoin again.
• 34:15
  I've told you guys this story before.
• 34:17
  I hate. That normies actually listen.
• 34:18
  To well, I was just going to tell you this story.
• 34:20
  All right, guys. Not going to.
• 34:22
  Make it guys. I I've told this story before,
• 34:25
  but it's very fitting because this is exactly what Sophie was
• 34:28
  saying. So before I got into Bitcoin,
• 34:29
  this was around 2016, I did what every kind of normie, probably
• 34:35
  millennials, someone that's trying to build some wealth does
• 34:37
  and you go talk to someone that basically invest in stocks.
• 34:41
  So I went and called one of my buddies, long time friend, we
• 34:44
  grew up together. His dad kind of taught him how
• 34:47
  to trade stocks and he basically gave me two advice.
• 34:52
  He said, one, just go to Charles Schwab and open up an account
• 34:55
  and two, go watch Fast Money with Jim Cramer.
• 34:57
  And to this day, it's like the funniest thing I've ever I can
• 35:01
  remember about that whole conversation because of the
• 35:03
  inverse Kramer effect and how, like real it is.
• 35:06
  But yeah, there are people out there that do actually.
• 35:09
  And he wasn't being ironic. Like he wasn't trolling me.
• 35:12
  He was like, yeah, go listen to my boy Jim Cramer.
• 35:15
  This is like real. Yeah, exactly.
• 35:18
  Like, and I, I should actually hit him up.
• 35:20
  He's he's at you. Other fun story I'll have to
• 35:23
  tell. I'll have to tell Sophie about
• 35:25
  this one later. I don't want to dox him because
• 35:26
  I might dox myself during that, but he he he's done very well
• 35:31
  for himself. But yeah, he really does believe
• 35:34
  in Jim Cramer. So with all that being said,
• 35:38
  maybe Jim Cramer is doing, you know, the reverse billionaire
• 35:42
  Fudd playbook here. Maybe it's time to unleash the
• 35:45
  masses into Bitcoin. Maybe that is the signal now.
• 35:48
  Maybe we've gotten to the point where they filled their bags
• 35:51
  enough where they can just kind of let the rocket boosters go
• 35:54
  and start letting Bitcoin fly because, you know, everyone's
• 35:58
  saying there's price manipulation.
• 35:59
  Well, there's obviously we all manipulate the price of Bitcoin
• 36:03
  when you buy it, when you sell it, that is by definition price
• 36:06
  manipulation. Yes, maybe we don't have the
• 36:07
  capital to actually keep the price low, but maybe, maybe they
• 36:12
  are giving the signal now to buy Bitcoin.
• 36:16
  I, I like that. I like that I just talked myself
• 36:19
  into being a little more bullish instead of being superstitious
• 36:22
  about it. But yes, Jim Cramer just came
• 36:24
  out and said, but he is bullish on Bitcoin.
• 36:28
  He is bearish on inflation. He's trying to find a hedge.
• 36:32
  And the other guy there, I don't know what his name is, said
• 36:36
  Bitcoin is a hedge against Armageddon.
• 36:38
  So ultimately, it's also process of elimination.
• 36:41
  If gold isn't going to do it, if real estate isn't going to do
• 36:45
  it, if bonds are definitely not going to do it, what's the only
• 36:50
  thing that's left? I kind of feel like, you know,
• 36:54
  the institutions and legacy media and all these people are
• 36:57
  in this position where they kind of have no choice at this point
• 37:01
  but to talk about Bitcoin because the proof is in the
• 37:04
  pudding. And they can no longer say that
• 37:08
  this is, you know, money for degenerates.
• 37:11
  This is stuff that our own government is buying and
• 37:14
  governments around the world are buying.
• 37:16
  And guess what? If governments around the world
• 37:19
  buy it first and they adopt Bitcoin 1st and they win and
• 37:24
  they're winning more than the US because of it, it's going to be
• 37:28
  embarrassing. So they, this is a hedge even
• 37:31
  for themselves and their credibility because imagine if
• 37:35
  they just, you know, imagine if they lost.
• 37:37
  Imagine if we didn't buy Bitcoin.
• 37:39
  Imagine if we were in an alternate reality where the
• 37:42
  Trump presidency didn't happen and you know, we were still
• 37:46
  fighting all of these obstacles against you and had choke .3
• 37:50
  point O at this point. And you know it, they have no
• 37:54
  choice. They have no choice but to bet
• 37:56
  on Bitcoin at this point. Yo, now there's an inverse OPTI,
• 38:00
  OK. So we're going, we're going
• 38:02
  high. Whenever I'm bullish the price
• 38:05
  dumps. Whenever I start getting
• 38:06
  bearish, the price pumps where let's time stamp.
• 38:09
  This there, there was a mini little according to them dump
• 38:12
  yesterday. We're like, we're going all time
• 38:14
  high. Inverse opti I'll take.
• 38:16
  It which by the way, our poll hold on, let me end the poll 54%
• 38:24
  saying no. I think that would how do I do
• 38:28
  this? Oh, end poll.
• 38:29
  Dude, rookie. Yeah, I'm new guys.
• 38:33
  Still new anyway. 53 percent 53 of you are bearish all right 50.
• 38:38
  3% of you are Nico fans. But actually one more thing
• 38:46
  before we move on. Skip on down the road increasing
• 38:50
  number of top singles signals. No dude, don't say it.
• 38:54
  Double top. Are we double topping?
• 38:55
  What is that? I don't want to know what that.
• 38:58
  Means yeah. OK, let's let's not explain it
• 39:00
  more. It's going to be great.
• 39:02
  We're going to pump in September.
• 39:03
  Everything is going according to plan.
• 39:06
  Everyone just remain calm, we're fine.
• 39:10
  Keep calm and stack on stack SAT and chill.
• 39:14
  All right guys, let's get in the news because there's a story
• 39:16
  that we missed the other week coming out of BlackRock that I
• 39:20
  find very, very interesting. We covered the BlackRock report
• 39:23
  that was dropped, I believe basically on the same day.
• 39:27
  But we didn't get this. And I, I think this is probably,
• 39:31
  if I, if I had this at the time that I think this would be just
• 39:36
  explosive. But maybe, maybe I'm drinking
• 39:38
  the, the kool-aid a little too much.
• 39:39
  So let's get into it. I want to give a shout out to
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  Go to sat123.com/simply today and use promo code simply to get
• 41:20
  15% off anything on the store. Alrighty then guys, let's let's
• 41:35
  dive into this. So you guys probably remember
• 41:37
  this chart here, there was a Black Rock report that just
• 41:40
  dropped about I think it was like 3 weeks ago.
• 41:44
  And they did, you know, they was like 19 pages and they had this,
• 41:48
  they had a lot of really nice graphics and they did this one
• 41:51
  that kind of was snuck in there and it goes D dollaration is
• 41:54
  shifting central bank reserve to other assets.
• 41:57
  Global central banks are diversifying beyond the dollar,
• 41:59
  leading to a rise in other currency reserves, gold holdings
• 42:03
  and consideration for emerging assets like Bitcoin.
• 42:06
  Now that is obviously super interesting in and of itself,
• 42:11
  but then we got this and and we completely missed this on the
• 42:14
  show. But BlackRock CEO, of course,
• 42:17
  Larry Fink warns dollars could lose reserve status to Bitcoin.
• 42:20
  So in their 2025 annual chairman's letters to investors
• 42:25
  titled the democratization of investing, expanding prosperity
• 42:29
  in more places for more people, we got this, you know, again,
• 42:33
  embedded here on page 20. Let me Scroll down here, which
• 42:38
  is even more kind of a doubling down of what's going on.
• 42:43
  So again, we've been hearing this conversation.
• 42:47
  I mean, even Jim Cramer was saying it.
• 42:49
  If you look at how much debt we have and the interest payments
• 42:53
  on these debts, it's almost there's, there's basically no
• 42:58
  way we're going to be able to pay back.
• 42:59
  Like we're, we're basically cook guys.
• 43:01
  Like there, there is no stopping this train, as Lynn Alden says.
• 43:06
  And we've seen they have increased the spending budgets
• 43:09
  here, They've raised the debt ceilings.
• 43:11
  So we're pretty much trapped in one position and it's that they
• 43:15
  have to inflate their debt away. It's the only way they can get
• 43:19
  this. The the only thing way they can
• 43:20
  get this under control is to ensure that you guys out there,
• 43:23
  or rather not you guys here at Simply Bitcoin, because you guys
• 43:27
  are much more aware of what's going on financially around the
• 43:30
  world. And I would say even
• 43:31
  geopolitically at times, but for the average person out there
• 43:36
  that is struggling right now wondering how my 2 jobs aren't
• 43:41
  able to pay for rent. I'm not even able to buy
• 43:43
  groceries. I don't know if you guys seen on
• 43:45
  Twitter recently but a lot of people are posting screenshots
• 43:48
  of stuff they bought last year compared to this year and the
• 43:52
  CPI numbers just dropped and I think it was 2.7% today.
• 43:56
  So that, you know, the official narrative is things are getting
• 44:00
  back under control. You know, we're entering the
• 44:02
  golden age things things are gonna work out, guys.
• 44:05
  We're getting this under control.
• 44:07
  And then there's this little, you know, just one little
• 44:11
  paragraph here in this investors Larry Fink annual chairman's
• 44:15
  letter. And it goes Can Bitcoin eat away
• 44:17
  at the US dollar's reserve status?
• 44:20
  the US has benefited from the dollar serving as the world
• 44:22
  reserve currency for decades, but that's not guaranteed to
• 44:25
  last forever. The national debt has grown at
• 44:27
  three times the pace of GDP since Times Square's debt clock
• 44:31
  started ticking in 1989. This year, interest payments
• 44:34
  will surpass 952 billion, exceeding defense spending.
• 44:39
  And I I think, I think it got up to a trillion already.
• 44:42
  And by 20-30, mandatory government spending and debt
• 44:45
  service will consume all federal revenue, creating a permanent
• 44:49
  deficit if the US doesn't get its debt under control.
• 44:52
  If deficits keep ballooning, America risks losing that
• 44:56
  position to digital assets like Bitcoin.
• 44:58
  It should really say America risks losing that position to
• 45:01
  Bitcoin. Again, Look, I'm not the biggest
• 45:06
  Uncle Larry fan. I do kind of troll that I'm I'm
• 45:09
  a huge fan of Uncle Larry 'cause I want him to put my bags.
• 45:11
  But in reality, I'm not the biggest fan of BlackRock here.
• 45:14
  They're they've done a lot of shady stuff in the past.
• 45:17
  I'm not, I'm not really big into this mega corporation that's
• 45:21
  like an octopus that has control of basically all of the world's
• 45:25
  companies. That's that's not what I'm here
• 45:27
  to do. But from this vantage point,
• 45:30
  from this position, from from his altar here, Larry Fink is
• 45:33
  basically telling everyone what we all know to be true here at
• 45:37
  simply Bitcoin is the debt is getting out of control. the US
• 45:41
  debt in particular is getting out of control, but global debt
• 45:44
  worldwide is getting out of control.
• 45:46
  And you got to remember the dominoes that play out here.
• 45:51
  Yes, there's a lot of currencies, Fiat monies around
• 45:54
  the world, but most of them are pegged to the dollar.
• 45:57
  Now we look at the dollar as a shit coin.
• 46:00
  Us Bitcoiners are like, yeah, that might be the shiniest turd
• 46:03
  in in the, you know, in the store here, but it's still a
• 46:07
  turd and you don't want to be holding it.
• 46:09
  You can't save in dollars. But every other currency is down
• 46:13
  the way from that. And most of the big currencies
• 46:15
  are pegged to the dollar. Remember the Brett Woods
• 46:18
  agreement like this is how the fundamental structure of the
• 46:21
  world is built. Everything is pegged around the
• 46:24
  dollar except for two things that are we would say are
• 46:26
  uncorrelated and that's basically gold and Bitcoin.
• 46:30
  And we all know Bitcoin is superior to gold here.
• 46:32
  So even though that the dollar might be the shiniest herd in in
• 46:37
  the room here, like if the dollar goes haywire, if the if
• 46:42
  the bond interest bond yields don't get under control, if this
• 46:47
  tariff stuff happens to increase inflation and things get even
• 46:51
  crazier than they are now, the dollar does have a very real
• 46:55
  chance of like imploding in real time.
• 46:58
  Now, I don't think that's going to happen.
• 46:59
  I'm not much of A Fiat dumer. I think the dollar will continue
• 47:02
  for a lot longer, especially when you kind of connect this
• 47:06
  with what's going on with stable coins and and kind of what the
• 47:09
  positioning is for stable coins quote.
• 47:11
  Again, they want to maintain U.S. dollar dominance here.
• 47:15
  It is interesting to see that we are seeing this conversation
• 47:20
  come from Larry Fink. I think the fact that it's even
• 47:22
  just a little blurb here, it's like what, basically one
• 47:25
  paragraph? That's making the alarm bells in
• 47:28
  my head. Go haywire.
• 47:31
  I'm. Saying just from just from the
• 47:32
  title, the democratization of investing, like what do you mean
• 47:40
  the democratization of investing?
• 47:42
  Bitcoin is investing being democratized like in the truest
• 47:48
  sense because it relies on a network of decentralized
• 47:54
  computers to all agree on transactions and and carry the
• 47:58
  network on. So what what is he like putting
• 48:03
  his foot in here about? Actually, it kind of makes me
• 48:07
  think that Black Rock is positioning themselves to become
• 48:13
  some sort of treasury leg like like kind of like maybe the new
• 48:19
  Fed, but for Bitcoin and the making the government rely
• 48:26
  maybe. Oh well.
• 48:28
  Yeah. Maybe they're competing with
• 48:30
  Sailor. I mean, maybe they want to
• 48:32
  compete with. Sailors.
• 48:33
  I don't know, but there was another quote that I saw and.
• 48:36
  We all know sailors not going to sell their Bitcoin.
• 48:38
  Blackrock's in it for the money, Sailor is in it for.
• 48:42
  We're all in it for the, I'm in it for the tech, you know, with
• 48:44
  my gold. Chain.
• 48:45
  Well, I think. He's in it for the tech.
• 48:46
  He's in it for more. I'm in it for the tech I got.
• 48:49
  I got the gold chain meme classic if you don't know that
• 48:52
  one. But I did see another Larry Fink
• 48:54
  quote come out today and I think it's new, but he basically said
• 49:00
  what what I mean, it might be the opposite of what Sophie just
• 49:02
  said. Like he basically said like I'm
• 49:04
  a true believer in this Bitcoin thing.
• 49:06
  I don't know about that. Like I will, I will look this
• 49:08
  up. I don't I don't know where it's
• 49:09
  attributed, but I did see it in on Twitter and I think it was a
• 49:13
  Bitcoin archive that posted it. It could be an old comment.
• 49:17
  I'd so you know someone could you guys can Fact Check me?
• 49:20
  Oh wow, look at this update update update breaking news,
• 49:23
  breaking news Powell in June, no rate cuts expecting inflation
• 49:26
  spike from tariffs July CPI below expectations again.
• 49:30
  OK, so you know people are still oh you guys didn't see that I
• 49:36
  got it right here. I'm dude, I'm I literally I got
• 49:43
  like 3 hours of sleep last night.
• 49:44
  I could not. Sleep.
• 49:45
  What if, what if he's? I mean, he's obviously signaling
• 49:49
  to the government, hey, if you don't get your debt under
• 49:51
  control, you're going to have to rely on Bitcoin, so you might as
• 49:54
  well start buying now. I'm OK with that.
• 49:58
  I mean, I'm, I'm OK with that. But you know, who are you going
• 50:01
  to buy from? U.S. government?
• 50:03
  Who are you going to buy from? Not for me.
• 50:06
  Oh. No, it's not going to.
• 50:07
  Be here we go. It's going to be like, I don't
• 50:11
  know, I don't know when this was attributed, but shouts out the
• 50:15
  Bitcoin archive and he goes, my opinion five years ago was
• 50:18
  wrong. I believe Bitcoin is legitimate.
• 50:21
  He posted that today. I don't know if this is an old
• 50:24
  quote, but from what I'm seeing, I, I think I, I kind of do
• 50:30
  believe this. I, I've been saying it for a
• 50:32
  while, like the very people that probably need Bitcoin just as
• 50:38
  much as we do are the very people that are inside the trad
• 50:41
  FI system. If they are as smart as they
• 50:45
  claim to be. And, and I know you guys are
• 50:47
  very kind of cynical and you think they're not that smart,
• 50:50
  they're naive and maybe there was some nepotism.
• 50:52
  Here, they're totally smart. They're totally smart.
• 50:55
  They're also evil and that's that's why I have such a I don't
• 50:59
  know. This, like eerie womanly
• 51:00
  instinct, is telling. Me the witch, the witch instinct
• 51:04
  is coming out but. Going no.
• 51:06
  Yeah, but if you are in the heart of the Beast, and we've
• 51:10
  seen I, I've been speculating on this, Jamie Dimon as well and
• 51:14
  Larry Fink for a while. If you are in the heart of the
• 51:17
  Beast and you are soberly looking at what's going on, or
• 51:22
  like Jerome Powell in particular, or Christine
• 51:25
  Lagarde, and I'm sure they're having these conversations in
• 51:28
  private. But if you're looking at where
• 51:30
  we are right now and you're not actually drinking your own
• 51:32
  kool-aid, you'd probably look at Bitcoin and be like, yeah, I
• 51:35
  should probably get some of this.
• 51:36
  Like what if they are right? What if there's a 1%?
• 51:38
  What if there's a point 1.01% chance that the Bitcoiners are
• 51:41
  right? I should probably own this.
• 51:43
  And it goes into the Bitcoiners for enemy.
• 51:45
  So I think he, I think he believes it.
• 51:47
  Just looking at it like even more pragmatically, they've seen
• 51:50
  the returns, they've seen the returns over five years, over 15
• 51:54
  years or whatever. Like they, they've seen the
• 51:56
  numbers. They speak for themselves.
• 51:57
  So it's more of a question of like, can they put their ego
• 52:01
  aside and purchase this or you know.
• 52:06
  They said magic the magician. Retail's fumbling the bag to
• 52:09
  Larry, and then he goes. Retail is getting Larry pause.
• 52:12
  I'm dead. Retail's got to get there.
• 52:16
  Yo, I showed you guys. A chart, I think it was last
• 52:19
  week, there's a chart that came out of Bitwise and it's
• 52:23
  basically saying like institutions are eating retail's
• 52:25
  lunch right now. So like, if you think these
• 52:27
  institutions don't understand what time it is, you are not
• 52:30
  looking at the same data. Retail has been dumping coins.
• 52:34
  Institutions have been scooping this up and not just the ETFs,
• 52:37
  but corporate treasuries like we're, we're kind of getting our
• 52:41
  lunch ate right now. Yes, we all got in earlier than
• 52:44
  they did, but they're coming in in size and right now they,
• 52:48
  they're winning the tug of war. So hey, I don't think these guys
• 52:52
  don't know what's going on. I, I think they maybe publicly
• 52:56
  say some things, but privately they're, they're, they're
• 53:00
  winning right now, guys. I think, I think everything they
• 53:02
  say in the public. Is for a purpose, and that
• 53:06
  purpose serves their own incentives.
• 53:09
  And so there has to be something here like, I don't know, that I
• 53:13
  maybe I'm just cynical, but there has to be an angle here
• 53:17
  that we're not seeing with Larry Fink.
• 53:21
  And I like what Mccaudle said. Don't get Laried.
• 53:25
  Yeah, for reals. Guys, don't sell all your
• 53:30
  Bitcoin to Saylor and Larry Fink and Donald Trump.
• 53:35
  Come on guys, you know Hoddle your Bitcoin here all right,
• 53:40
  this is not the time to be selling anyways, let's keep it
• 53:43
  moving. I am going to bring up one of
• 53:45
  the most spicier conversations we had on the show in the last
• 53:49
  probably month with which really kind of blindsided us.
• 53:52
  It was a conversation on whether you should rent a house or you
• 53:56
  should buy a house. And we got Ray Dalio vindicating
• 54:01
  us again. Guys, get your wives.
• 54:03
  Guys, get your wives sit. Them down, totally vindicated.
• 54:06
  Yes, yes, this. Is yeah, get your girlfriends
• 54:09
  and your wives that want you to dump your Bitcoin and sit them
• 54:13
  down right now, because we have one of the legendary investors
• 54:16
  essentially saying you don't want to buy a house.
• 54:21
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  All right, guys, all right before, before before I get into
• 56:27
  this like I am going to do some context here because you guys
• 56:31
  are already fighting in the chat.
• 56:33
  Dude, who knew that this was going to be like the most
• 56:35
  contentious topic we've done on simply Bitcoin in a while?
• 56:39
  I think before we get into this, obviously we're going to chat
• 56:44
  about this for a little bit, and I do have a clip from you for
• 56:46
  from Ray Dalio here. I think you the framing here is
• 56:51
  like if you want to buy a house to live in today, the context
• 56:54
  is. Today.
• 56:55
  Yeah, like not 20. 20 not. 2020 exactly today.
• 57:01
  Like if you don't already own a home and I see you guys like my
• 57:05
  mortgage is less than rent. I get it, dude.
• 57:07
  Like, yeah, we're happy for you. We're so happy.
• 57:10
  You know, like good for you. There's obviously different
• 57:13
  flavors for everyone. Also at that time, Bitcoin was.
• 57:17
  What, 45 K around there, Yeah, but the the.
• 57:22
  Conversation is really like if you are maybe Sophie in our age,
• 57:27
  you know, in like your late 20s, early 30s right now, there's a
• 57:31
  lot of people savings or you know, or you do.
• 57:34
  Have some savings? But you're really sitting on
• 57:35
  cash spend. Yeah, exactly like there is.
• 57:39
  You know, there is a lot of people on social media right now
• 57:42
  that are continuing to kind of talk about this idea and I I
• 57:46
  would say really stuck in old model saying that like the best
• 57:49
  way to build wealth is to buy real estate.
• 57:51
  You know, real estate investment is the best way to build wealth.
• 57:54
  All the millionaires and you know, deca millionaires there.
• 57:58
  There's one key secret. I see these threads all the
• 58:01
  time. There's one key ingredient that
• 58:03
  connects them all and it's they bought real estate.
• 58:06
  Like yes, if you had done this strategy in the past 5-10 years
• 58:11
  or maybe, you know, 20-30 years ago, or if you're like a boomer
• 58:14
  and you bought a house for like, you know, $28,000 and now it's
• 58:18
  worth 1.2 million, you know, kudos to you.
• 58:21
  But this is more tailored for people that are now looking for
• 58:25
  ways to build wealth. And you know, Nico came on here
• 58:28
  and you guys lost it when he's like, bro, you rent a house
• 58:31
  right now. Like, yes, you know, you're
• 58:34
  burning Sats, whatever, but like renting is the way and that's
• 58:38
  where this came from. You're not burning the.
• 58:41
  Opportunity cost, I'm excited that's.
• 58:42
  Basically what it is, you're not burning your opportunity.
• 58:45
  Cost in a really big way because at the end of the day paying
• 58:49
  rent is not as like if you, if you look at it as like payments
• 58:55
  over time, Bitcoin and your stack are are going to outpace
• 59:00
  that. So it doesn't make sense to take
• 59:03
  out a huge chunk of your stock and put it into a house that
• 59:09
  isn't going to beat the value of Bitcoin.
• 59:12
  Like, that's basically what it boils down to, yeah.
• 59:16
  And. Now, all right, that that wasn't
• 59:18
  that was probably too much context.
• 59:20
  I think we over explained ourselves.
• 59:22
  But check out this, this thread, that or this tweet.
• 59:26
  I'm a woman off the I always over explain.
• 59:28
  Myself here we got Ray Dally and I'm.
• 59:30
  Going to play the video, it is like a TikTok long form.
• 59:33
  So I, I don't know if if my software is acting up on me, so
• 59:36
  I'll play the video for you guys real quick.
• 59:39
  But just to like TLDR this or you know, short of this, the
• 59:42
  short and sweet of this Ray Dalio tweets.
• 59:44
  My view is that buying and holding real estate is not an
• 59:47
  effective investment strategy in our current economic environment
• 59:50
  for a few reasons. One, real estate is more
• 59:53
  interest rate sensitive than it is inflation sensitive.
• 59:56
  So given our current circumstances, it is likely to
• 59:58
  go down in real terms. 2 It is fixed asset that is easy to tax,
• 1:00:02
  which limits its impact on your ability to diversify.
• 1:00:06
  Three, real estate is nailed down, so investing in it makes
• 1:00:08
  it more difficult to move money from one place to another.
• 1:00:11
  That's my view in a nutshell. I'm curious to hear if you
• 1:00:15
  agree. So let's play the clip here and
• 1:00:18
  then we'll we'll chat about it and you and you guys let let us
• 1:00:21
  know what you think in the chat and maybe we'll we'll read a
• 1:00:23
  couple of them. Throughout history, there have
• 1:00:25
  been two things that people have always wanted as a source of
• 1:00:28
  wealth. One of us gold and then real
• 1:00:31
  estate. And what do you think about if
• 1:00:33
  you're nervous about paper currency and the valuation of
• 1:00:36
  it, Why not just buy real estate and hold on to it?
• 1:00:39
  Is that not a good idea? It's not a good idea.
• 1:00:43
  It's not a good idea because real estate is more interest
• 1:00:47
  rate sensitive than it is even inflation sensitive.
• 1:00:50
  So if you were to say if this environment happens, does it go,
• 1:00:54
  it goes down in real terms. It's also an asset that is a
• 1:00:58
  fixed asset that is the easiest asks asset to tax.
• 1:01:03
  In other words, you in any place, you're in a particular
• 1:01:06
  state, putting in real estate taxes means that they could
• 1:01:09
  always get the money and so it doesn't.
• 1:01:11
  It's not an effective diversifier that way.
• 1:01:14
  And also being able to move money from one place to another,
• 1:01:17
  the real estate is nailed down. So guys, I know we frame this
• 1:01:22
  conversation when we brought it up that in Bitcoin terms, it
• 1:01:26
  just makes no sense. Like if you gonna buy a house, I
• 1:01:28
  don't know, I think the, the average number that kind of been
• 1:01:31
  shipped around is like if you're gonna buy a house for four
• 1:01:34
  Bitcoin right now, average home, I think that would be, you know,
• 1:01:37
  roughly around $400,000. Well, in, I don't know, like 4
• 1:01:42
  years from now, five years from now, that same for Bitcoin might
• 1:01:46
  be able to buy you 4 houses. So like, why would you want to
• 1:01:49
  buy the house now when you can rent it from a boomer for less
• 1:01:53
  than what they're paying less than the cost to buy the house.
• 1:01:57
  And in that time you could save the Bitcoin and buy yourself the
• 1:02:01
  house over again. Now again, the conversation does
• 1:02:04
  kind of have a have a, a fork in the road here.
• 1:02:06
  Like if you've always dreamed about buying a house and you
• 1:02:09
  have a family do it. And yeah, and you have the
• 1:02:12
  ability and the means to do this and it's not your whole Bitcoin
• 1:02:15
  stack. Then of course, buy yourself a
• 1:02:17
  house. Like in that context totally
• 1:02:20
  makes sense. But from this perspective of
• 1:02:23
  using real estate as an investment vehicle, we've heard
• 1:02:27
  all the Bitcoiners say for a long time that this was going to
• 1:02:30
  play out. We've heard Sailor literally say
• 1:02:31
  that. Actually, there's there's a good
• 1:02:32
  Sailor comment here. Let me let me pull this up
• 1:02:35
  because every single. Justification that they give for
• 1:02:38
  investing in real estate are like kind of the same
• 1:02:40
  justification and the same problems that there are in gold.
• 1:02:45
  You know, you can't take it anywhere.
• 1:02:48
  You have to maintain it like wherever you keep it.
• 1:02:51
  In this case, you have to pay property tax.
• 1:02:54
  It's yo Chad, you're I'm getting cooked today.
• 1:02:57
  I'm totally getting cooked. It's always.
• 1:02:59
  It's basically always. Inconvenient.
• 1:03:01
  Whereas with Bitcoin you could just stack your corn, keep it in
• 1:03:05
  self custody and you know, save it for a rainy day.
• 1:03:09
  I think if you know, you Beachy gets it.
• 1:03:11
  Beachy gets it. Sorry.
• 1:03:12
  Don't don't mean to cut you off, Sophie, but she goes.
• 1:03:15
  I'm an elder woman who has owned over 100 building slash units.
• 1:03:18
  I've been selling all my real estate except for one ranch that
• 1:03:21
  overlooks the ocean that has millions in Timbers on it.
• 1:03:24
  And I'm buying Bitcoin. Let's go.
• 1:03:28
  Beachy gets it, yeah. 'Cause she wants to have.
• 1:03:31
  A better life. You think it's easy maintaining
• 1:03:35
  real estate. I love that there's like this
• 1:03:37
  narrative online. It's like landlords, they don't
• 1:03:39
  do anything. But it's really hard to manage a
• 1:03:43
  property. It's really difficult.
• 1:03:45
  You like, you literally have to deal with something every other
• 1:03:49
  day. And you know, I, I think that
• 1:03:51
  like when you have a ton of real estate, it accumulates, the
• 1:03:54
  problems get bigger, the, the maintenance and the amount of
• 1:03:59
  money that you have sunk into this investment just increases
• 1:04:03
  more and more. So at the end of the day, like,
• 1:04:07
  not only are you not going to outpace the price of Bitcoin,
• 1:04:12
  you're also going to have all these sunk costs that, you know,
• 1:04:16
  you're not even enjoying the property.
• 1:04:18
  So what's the point? Yeah.
• 1:04:21
  And shout shouts. Out to bit tunes for the $2.00
• 1:04:24
  because the great flipping ING is happening.
• 1:04:26
  Yes it is happening in real time.
• 1:04:28
  And like I said, the Sailor comet better to buy digital real
• 1:04:31
  estate guys. This is the take away I know.
• 1:04:34
  Like I even have one of my friends, one of my good old,
• 1:04:37
  like one of my oldest friends. He's low key loosely A
• 1:04:41
  bitcoiner. I've orange killed him over the
• 1:04:43
  years and he would fight me for a while.
• 1:04:46
  He's like, look, dude, I can take a loan out or just put 10%
• 1:04:51
  of the down payment down and then I for a year, then I'm able
• 1:04:57
  to kind of take mortgage out and I can continue to do this and
• 1:05:00
  roll this over and roll this over.
• 1:05:02
  And I'm like, yeah, that sounds like a cool story, bro.
• 1:05:04
  But like I'd just rather buy Bitcoin and not have to do any
• 1:05:08
  of that. And yes, like someone said here
• 1:05:10
  in the chat, as the mean goes, you will own nothing and be
• 1:05:16
  happy. No, see, this is this is where
• 1:05:19
  there's a caveat here. You'll own nothing but Bitcoin
• 1:05:22
  and you'll be happy because in a few years you'll be able to buy
• 1:05:25
  everything you want. Like, what are we?
• 1:05:28
  What are we talking about here? It's just a totally different
• 1:05:30
  paradigm shift, like the the saying, you know, you got to try
• 1:05:34
  new things or what's the you're crazy if you try the same thing
• 1:05:38
  over and over and over again. As you can see, we are in an
• 1:05:41
  Internet age, we are in the digital age.
• 1:05:44
  And to really kind of capitalize on this life changing moment,
• 1:05:49
  this once in a lifetime moment, like you got to do different
• 1:05:52
  things. Now, of course, I've made-up my
• 1:05:55
  mind on what I'm going to do. You know, Nico did it as well.
• 1:05:58
  He drags Sophie along with it. She's pretty happy about it.
• 1:06:01
  You guys have done it in the chat that you guys have all
• 1:06:03
  made-up your own minds here of what you believe is the best
• 1:06:06
  thing to be doing. But right now I've been saying
• 1:06:09
  it to all my friends and I'm usually trolling them.
• 1:06:12
  I'm like, bro, you got to risk it to get the biscuit.
• 1:06:15
  And you have to do kind of unconventional thinking at the
• 1:06:19
  moment right now to capitalize on what's going on.
• 1:06:22
  And I know I'm a broken record here because we talk about this
• 1:06:26
  constantly, but literally all you have to do is just pile as
• 1:06:30
  much of your money coming in into Bitcoin, hold it long term,
• 1:06:34
  store it correctly, and you will be able to buy your dream house.
• 1:06:38
  You will be able to beat inflation like you will
• 1:06:41
  outperform the best hedge funds on Wall Street literally by just
• 1:06:45
  buying Bitcoin and chilling. The hardest part about Bitcoin
• 1:06:49
  is not the buying the Bitcoin, it's the chilling with your
• 1:06:52
  Bitcoin. It's going outside and ignoring
• 1:06:55
  all the crazy stuff. I know it's our job to cover the
• 1:06:57
  crazy stuff for you guys, but literally the best, the probably
• 1:07:01
  the best trading strategy you can do with Bitcoin is buying
• 1:07:04
  Bitcoin and just going. And we're we're delighted up in
• 1:07:08
  the show, fucking off and just like enjoying your life and
• 1:07:12
  working out, eating some good food, hanging out with your
• 1:07:15
  friends, like reading a book, You know, maybe you guys aren't
• 1:07:18
  the biggest fans of Netflix, but just like watching Netflix and
• 1:07:20
  working your normal job. Exactly.
• 1:07:24
  Watching your kids grow. Up like teaching.
• 1:07:26
  Them things stop, you know? Like don't get so caught up in
• 1:07:29
  the price. I love the price.
• 1:07:31
  I'm I'm a I'm a dopamine fiend here for the price like I, I'm,
• 1:07:36
  I, I'm dead inside. I need the price to pump again
• 1:07:38
  so that I can get some good, some good content for you guys
• 1:07:41
  and really lose my lose my shit on the show.
• 1:07:44
  But really all you have to do is just buy Bitcoin and chill and
• 1:07:49
  all of your like, it's going to be corny, but then all of your
• 1:07:52
  dreams will come true. Like you just need to kind of
• 1:07:55
  commit to the process. Like you can complicate it all
• 1:07:58
  you want, but you have the best investors in the world, The
• 1:08:01
  legendary investors, the ones that basically built Wall Street
• 1:08:04
  now basically saying the same thing all of us Bitcoiners have
• 1:08:07
  been saying for a long time. You probably don't want to buy
• 1:08:10
  real estate right now. You probably want to buy
• 1:08:12
  something else. And again, Ray Dalio recently
• 1:08:15
  did just say like, yeah, you probably want, you know, I don't
• 1:08:17
  know, 15, maybe 40% of Bitcoin in your portfolio.
• 1:08:21
  Look, we're just trying to just share the information to you
• 1:08:24
  guys and you guys make up your own mind.
• 1:08:27
  But if I had, if I was new to Bitcoin and I was hearing all
• 1:08:30
  this stuff, I probably would have gone harder than I did when
• 1:08:33
  I heard it in 2017 with everything playing out right
• 1:08:36
  now. And I'm looking back like I
• 1:08:39
  could have stacked harder. And here's the thing if you do.
• 1:08:42
  Stack hard and long enough. Eventually you will own your own
• 1:08:48
  home. Eventually you will have enough
• 1:08:51
  money where those property taxes and maintenance and whatever, it
• 1:08:54
  won't matter. Eventually you might even own a
• 1:08:57
  second home that you'll actually get to enjoy with your family.
• 1:09:01
  But it won't be this stressful situation where it's like, you
• 1:09:06
  know, I have 100 condos and have to maintain them all and 50 of
• 1:09:11
  them didn't pay me rent this week.
• 1:09:13
  And now I have to pay lawyers for a lawsuit because they have
• 1:09:17
  to chase them for rent and I have to pay all these people.
• 1:09:19
  It's a gain. It's really, really, it's not as
• 1:09:23
  easy as people think. It's not, you know this, and it
• 1:09:27
  doesn't give you the gains that Bitcoin is going to give you.
• 1:09:30
  And while we're early, while, you know, these institutions
• 1:09:34
  still haven't fully caught on, although they're starting to,
• 1:09:37
  our advice to you is, you know, to keep stacking.
• 1:09:40
  Like really just keep stacking and don't worry about everything
• 1:09:45
  else. If you're watching the show,
• 1:09:47
  it's because you have a grasp on Bitcoin, you already understand
• 1:09:50
  and the ramifications both economically and culturally on
• 1:09:55
  how this is going to impact the rest of the world.
• 1:09:58
  So just stick to your convictions, keep sacking sats,
• 1:10:01
  don't get involved into something that you don't believe
• 1:10:04
  in because who believes in a house that they won't even live
• 1:10:07
  in? Who believes in that?
• 1:10:09
  Nobody. So just keep going on this path,
• 1:10:14
  have your long time preference and just be patient.
• 1:10:20
  I'm going to double down on that.
• 1:10:21
  Sophie, you want to change? The trajectory of your
• 1:10:23
  bloodline. Stack as much Bitcoin as humanly
• 1:10:27
  possible, store it long term, and they will make oil paintings
• 1:10:30
  of you over the fireplace. Okay, this is the this is the
• 1:10:33
  plan. We want every single every
• 1:10:36
  single one of you guys to be as wealthy and influential as
• 1:10:39
  possible. Get healthy, get fit.
• 1:10:42
  You know as as the running joke here on simply Bitcoin is is we
• 1:10:45
  have scammed you guys into profits.
• 1:10:47
  All you need to do is buy Bitcoin, get more and more
• 1:10:49
  bullish obviously, like pay your bills and you know, eat food, be
• 1:10:53
  smart about it, but pile as much money as you can into Bitcoin
• 1:10:58
  and chill. This is how you change your
• 1:11:00
  life. This is how you make lots of
• 1:11:02
  kids will also. Be bitcoiners I will.
• 1:11:06
  Yeah, I have to I. I have to work on that one, but
• 1:11:09
  it's OK you have time off let's. Hope so.
• 1:11:12
  Anyways, on that note, all right, so Sophie, she's dropping
• 1:11:18
  a video later. Guys, if you love Sophie, she's
• 1:11:20
  dropping a video and. I think but more.
• 1:11:24
  Importantly, share it with your friends and.
• 1:11:26
  Haters. Yeah, share it to the haters.
• 1:11:29
  Hi haters and I, I think I think Niko will be back tomorrow.
• 1:11:33
  I'm not going to hold my breath on that.
• 1:11:35
  So we might just get more bullish tomorrow.
• 1:11:38
  Maybe maybe we'll just kick off the perma bear all week and
• 1:11:41
  we'll get stupidly bullish on this week, but maybe inverse
• 1:11:44
  Opti is in full effect. Anyways, guys, we love you see
• 1:11:47
  you tomorrow. Check out our channel subscribe
• 1:11:50
  like comment. What do you think about the
• 1:11:52
  show? We will see you tomorrow and and
• 1:11:54
  we have the the next star. We got the next star.
• 1:11:57
  We got the next star. All right later all right,
• 1:11:58
  later. Today's episode was brought to
• 1:12:01
  you by. Bitcoinwell.com, a Bitcoin only
• 1:12:04
  platform on a mission to enable financial independence.