Latest / Simply Bitcoin / Strategy DESTROYS Blackrocks Plan to CONTROL Bitcoin! (WE HAVE THE PROOF) | EP 1486

Transcript

Strategy DESTROYS Blackrocks Plan to CONTROL Bitcoin! (WE HAVE THE PROOF) | EP 1486 · Simply Bitcoin

• 0:01
  Everybody's talking about strategy overtaking BlackRock
• 0:04
  and Bitcoin Holdings today, but that's not the most interesting
• 0:08
  part of this story. Yes, MicroStrategy bought
• 0:11
  another 30,000 plus coins, but there is something far more
• 0:15
  interesting happening today. In April 2026, we have a new
• 0:21
  article detailing how MSTR MicroStrategy may have single
• 0:25
  handedly ended the paper Bitcoin games that emerged in 2024 when
• 0:30
  BlackRock and Wall Street entered the space.
• 0:33
  Here we go guys. It's obviously huge news
• 0:37
  strategy now. Literally the biggest Bitcoin
• 0:39
  holder in the world. And he yeah, yeah.
• 0:42
  Here we go, hitting the horn and.
• 0:44
  You know, passing BlackRock, which is a huge feat, a lot of
• 0:46
  us didn't think it was going to be possible and sailors just
• 0:49
  accelerated the buys. But I'm not alone.
• 0:51
  I do have Nico and Kent with me today.
• 0:54
  So we got a packed house. So I'm going to I'm going to try
• 0:57
  to RIP through the source material as quickly as possible
• 0:59
  breakdown what what I think is very interesting.
• 1:02
  So here we go the the Twitter post initial post happening this
• 1:06
  morning. Strategy acquired another 34,164
• 1:11
  Bitcoin for roughly 2.54 billion dollars at a, you know, rough
• 1:17
  estimate of 74,000 per coin. They've achieved a Bitcoin yield
• 1:21
  of 9.5% year to date, and as of yesterday, they now hold 815,000
• 1:29
  and 61 Bitcoin acquired for roughly $61 billion at a average
• 1:36
  price of 75 K. It's absolutely insane.
• 1:39
  We've been covering just the stretch product alone in the
• 1:43
  last couple of days on the show. It's it's really just incredible
• 1:48
  how much capital is being acquired through that product
• 1:51
  alone. Obviously the common stock is
• 1:53
  not finish acquiring more Bitcoin.
• 1:55
  Sailor, I think is at this point kind of having that FOMO
• 2:00
  feeling. It's like, yo, I need to get as
• 2:01
  much Bitcoin as possible right now because he said it a while
• 2:05
  ago. You know, we're not going to be
• 2:07
  in a quote, crypto winter as we've seen in the past.
• 2:11
  And it is starting to feel that way.
• 2:13
  Now. Here is where it does get a
• 2:16
  little interesting, though. I actually, I'm going to start
• 2:18
  with this because this isn't the article I want to break down.
• 2:21
  Yeah, I'm just going to read the headline this from the block
• 2:24
  Sailor tweeted over the weekend on Sunday, like he always does,
• 2:27
  to think even bigger. So I want you guys to keep that
• 2:30
  in mind. Sailor is saying, you know,
• 2:32
  leaving us some hints on Twitter of maybe what he's thinking.
• 2:37
  And the tweet was simple. Think even bigger.
• 2:39
  Of course, they're also headlining the fact that he
• 2:42
  bought another 34,000 Bitcoin. It's now the largest Bitcoin
• 2:46
  holder in the world currently and really accelerating that
• 2:50
  path to a million Bitcoin. It's going to be insane.
• 2:53
  It's it's like I think 95% chance is going to happen like
• 2:57
  very soon. Obviously, I think by the end of
• 3:00
  the year, if I don't know if they have a polymarket bet on
• 3:03
  that, I I would probably take that bet right now.
• 3:06
  He's going to get a million by the end of this year.
• 3:07
  I think without a doubt, unless the Bitcoin price starts ripping
• 3:11
  and that is the other conversation.
• 3:13
  But here we go. This is where I think it gets
• 3:16
  very interesting and shout out to DL news because I didn't see
• 3:20
  a lot of people. I actually saw a few tweets
• 3:21
  about this basic mechanism playing out, but this article
• 3:26
  does a really good job of breaking it down so someone with
• 3:29
  a 42 IQ like myself can really understand what's going on.
• 3:32
  And keep in mind we've all been asking one question.
• 3:37
  If you're on the show, we constantly reiterate the same
• 3:39
  question. If we are seeing the amount of
• 3:42
  buying pressure that we're seeing billions of dollars, 10s
• 3:46
  of thousands, if not 100,000 coins going out of the market
• 3:50
  being bought up by these corporations, why isn't the
• 3:53
  price going up? The main kind of explanation
• 3:57
  more on the Check Matey sign is we've also seen a lot of selling
• 4:01
  from O GS and Wales and obviously just a very simple
• 4:05
  supply demand dynamic. There's more selling than
• 4:09
  buyers. That's why the price is going
• 4:11
  down. But there is a more interesting
• 4:15
  angle playing out on the trad fight lane and we have covered
• 4:20
  some of this in the back, particularly when we were
• 4:22
  talking about James St. you know, price manipulation, paper
• 4:25
  Bitcoin games. We have memes and rhetoric to
• 4:28
  explain this mechanism, but this article explained, I think
• 4:33
  exactly what's going on in a very simple way.
• 4:35
  So this article is titled basis trades are done dragging down
• 4:39
  Bitcoin price says investment advisor.
• 4:42
  The Bitcoin CME open interest near a 14 month low as basis
• 4:46
  trade unwinds and we will explain what that is.
• 4:48
  That's why I'm I'm reading you this one two prime Alex Bloom
• 4:51
  says 1 dominant buyer has changed the market structure,
• 4:56
  which is something I've said literally on Friday that Sailor
• 5:00
  may have single handedly change the trajectory of this bear
• 5:04
  market. And if one person can do this,
• 5:08
  which I've been saying for a long time, look, all it takes
• 5:11
  for the price of Bitcoin to really fundamentally change is
• 5:15
  someone with a very high conviction level wanting to buy
• 5:18
  a lot of Bitcoin. Obviously we've seen Sailor do
• 5:21
  this, but that's usually the wild card that I always say.
• 5:25
  It's like, look, OK, we have the Bitcoin on exchange metric, but
• 5:29
  something about it never really SAT well with me.
• 5:32
  It wasn't an airtight explanation for the Bitcoin
• 5:35
  price going up because I always said all it takes is someone
• 5:38
  with a very high conviction to want to buy Bitcoin and all of
• 5:42
  this goes out the window. Or the opposite.
• 5:43
  All it takes someone that's spooked selling a lot of Bitcoin
• 5:47
  literally going from cold storage to the exchange and all
• 5:50
  these numbers really mean nothing and now we're starting
• 5:53
  to see the explanation for this so here we go we're just going
• 5:57
  to explain it. The so-called basis traders are
• 5:58
  done dragging down the Bitcoin market just as one dominant
• 6:01
  buyer is accelerating its purchases.
• 6:03
  The sharp drop in futures positioning shows that what's
• 6:07
  known as the basis trade which weighed on the market for months
• 6:10
  is largely finished. Meanwhile, strategies literally
• 6:14
  buying like there's no tomorrow quote when directional capital
• 6:17
  makes a decision, it moves the price.
• 6:20
  The combination of one large directional you know, buyers
• 6:23
  systematically accumulating while hedge yield farmers exit
• 6:27
  is an unusual market structure. Bloom's assessment lands amid A
• 6:31
  striking divergent between the cryptocurrency industry at large
• 6:35
  and other global markets. Now here is where the
• 6:39
  explanation of the basis trade plays out and it goes what
• 6:41
  exactly has changed for the For much of the past year,
• 6:45
  sophisticated institutions ran what is known as the basis
• 6:48
  trade. The trade involves investors
• 6:50
  buying spot Bitcoin or the ETF or ETF shares and short futures
• 6:55
  contracts to earn the difference in pricing, which we've been
• 6:59
  talking to you guys for a long time that the institutions,
• 7:02
  they're not just taking a one way bet on Bitcoin, they make
• 7:05
  money either way. So they are as we usually say in
• 7:08
  layman turds, like hedging their bet.
• 7:10
  Yes, they'll buy spot or the ETF, but they're also making
• 7:15
  yield quote by you know, shorting futures contracts or
• 7:19
  having futures shorts in simple terms, like I said, it's a yield
• 7:22
  play, not a bet that bitcoins price will skyrocket anytime
• 7:26
  soon, but the trade unwinding is one of the key drags on the
• 7:30
  cryptocurrency market. What we've been watching is a
• 7:32
  basis unwind masquerading as a bear market.
• 7:36
  Open interest in CME futures, Bitcoin futures is falling under
• 7:40
  $10 billion, levels last seen in 2024.
• 7:44
  A base. This unwind means those hedge
• 7:46
  positions are being closed. Investors are exiting the future
• 7:50
  short and reducing the parrot spot exposure.
• 7:53
  That mechanical selling can weigh on price even if sentiment
• 7:57
  is not collapsing. And we've been watching this on
• 8:00
  the show. We're all sitting here like,
• 8:01
  yeah, we're all kind of demoralized.
• 8:03
  It's like, OK, the bear market, how low we're going to go.
• 8:05
  But the news that we've been covering on the show, it's
• 8:08
  probably been the most bullish bear market period.
• 8:12
  And there has been a mismatch here where we're like, ma'am,
• 8:14
  we're getting the best news possible around Bitcoin and yet
• 8:18
  the price isn't doing anything. What exactly is going on?
• 8:21
  I think this is literally pinpointing exactly what's going
• 8:25
  on. And it does have to do with
• 8:26
  Sailor buying a bunch, which we've been covering, and the
• 8:30
  quote paper Bitcoin games being played by Trad 5.
• 8:33
  Anyways, going further, a little more it goes.
• 8:34
  Bloom argues that phase is largely complete.
• 8:38
  Futures open, interest is down sharply.
• 8:40
  Perpetual funding rates, payments between traders and
• 8:42
  leveraged crypto contracts have hovered slightly negative.
• 8:45
  That suggests many traders are leaning short and paying to hold
• 8:50
  bearish bets. At the same time, though,
• 8:52
  strategy is buying like there's no tomorrow.
• 8:56
  Blue is calling this a structural bid at scale.
• 8:58
  In other words, one large buyer is accumulating tokens
• 9:02
  consistently while hedge funds step back.
• 9:06
  It has real implications for how the next leg of price discovery
• 9:09
  develops. I don't know, guys, it's a
• 9:13
  Monday morning. We can't get too bullish here.
• 9:16
  But we are seeing some interesting stuff on the back
• 9:19
  end. As you know, maybe I'm taking a
• 9:20
  stretch here as Wall Street starts to figure out what it
• 9:24
  means to hold the scarcest acid in the market yet for a short
• 9:29
  period. You can do this trade stuff and,
• 9:31
  you know, you can be a trader. But we might be seeing the fork
• 9:35
  in the road where the institution start to catch on
• 9:37
  what, on what sailors actually doing and realizing, wait,
• 9:40
  actually, maybe the yield play we're doing to just, you know,
• 9:45
  get a little money on top of it. Maybe that's not the smartest
• 9:48
  move if this is exactly what we think it is, which is the most
• 9:52
  scarce money in the world. So when true scarcity meets the
• 9:54
  trading game, true scarcity is going to win.
• 9:58
  Now to add on this, and I actually, I might need cat to
• 10:00
  explain this 'cause I, I know what the words are saying, but
• 10:03
  I, I literally couldn't wrap my head and I, I DM Luke this
• 10:05
  morning. I'm like, what is what does this
• 10:07
  even mean? He's like, I truly don't even
• 10:09
  understand. But anyway, Fong Lee tweeted
• 10:11
  this morning and he goes in one week strategy increased Bitcoin
• 10:14
  gain by 82% to $4.97 billion for this year.
• 10:19
  This reflects the reflexive power of combining appreciating
• 10:23
  Bitcoin or digital capital capital with accretive financing
• 10:27
  digital credit. I again, I I don't know, this is
• 10:30
  this is above my pay grade. This is using Wall Street terms.
• 10:34
  I'm like, hey, it makes sense sort of.
• 10:36
  I know what the words mean, but I can't really explain what this
• 10:39
  sentence is. All right, on that note, let's
• 10:41
  just look at the numbers here and then I'll pass it on so we
• 10:45
  can see Bitcoin treasuries.net. This is the updated numbers.
• 10:48
  Strategy, again currently holds 815,000 and 61 Bitcoin, the
• 10:54
  clear lead in the Bitcoin treasury game.
• 10:57
  But as I was saying on Friday, the real interesting play is
• 11:01
  going to be 1 Strategy surpasses BlackRock.
• 11:05
  BlackRock came in, they're obviously one of the biggest
• 11:08
  hedge funds in the world, asset managers in the world, and they
• 11:11
  came out strong and acquired a lot of Bitcoin.
• 11:15
  And I know when we were talking about this, excuse me,
• 11:17
  initially, we're like, oh man, Wall Street's coming in,
• 11:19
  controlling the price of Bitcoin.
• 11:21
  They're trying to corner the market.
• 11:23
  Like are we really that happy that institutions came in number
• 11:27
  isn't going up, they're playing paper Bitcoin games like maybe
• 11:31
  be careful what you wish for. Well, now it looks like a
• 11:34
  bitcoiner, a true Bitcoiner now holds more Bitcoin than
• 11:38
  BlackRock because we all obviously don't really trust
• 11:41
  BlackRock. But here's Blackrock's Bitcoin
• 11:43
  trust and they currently hold 802,823 bitcoins.
• 11:48
  So I think what in Fiat terms Sailor holds about 15 billion
• 11:54
  more. Let me let me double check this
• 11:55
  Sailor has about I think it's 75 billion in Bitcoin holdings and
• 12:02
  oh sorry, maybe it's 5 billion. All right, where is this 60
• 12:07
  billion, 72 billion? OK, anyways, Sailor leaving
• 12:12
  BlackRock now do we feel a little better now than a
• 12:15
  Bitcoiner? And hey, maybe you guys don't
• 12:16
  think Sailor's a real Bitcoiner, but he's a Bitcoiner.
• 12:19
  Now we have a real Bitcoiner in Wall Street doing better than
• 12:25
  the biggest asset manager, which I think they've been playing a
• 12:28
  lot of paper Bitcoin games since they entered the market.
• 12:30
  Now it seems like maybe we are starting to see what Sailor said
• 12:36
  last week. There's a delay between when we
• 12:38
  buy Bitcoin and when the price goes up.
• 12:41
  We might be coming to that end point and it might mean the bear
• 12:45
  market isn't going to last as long as we thought it was going
• 12:47
  to be, which this is probably where I start dunking on my boy
• 12:50
  over here. You know Nico keeps saying
• 12:52
  October is when the bear market officially ends it might happen
• 12:56
  a little sooner got all I'm saying is I'm starting to feel a
• 12:59
  little bullish here I don't know man the signs are looking well
• 13:03
  the the TA astrology is looking pretty good too Nico so.
• 13:07
  Yeah, I mean, look, like, first of all, Sailor has had his
• 13:13
  sights on this since BlackRock entered the game.
• 13:17
  And I remember vividly, and it was like this like competition.
• 13:22
  And I was like, and I was telling Opti, and it was a
• 13:24
  couple years ago and Opti, I'm sure you remember, I was like,
• 13:27
  Black Rock's going for that top slot.
• 13:29
  Black Rock's going for that top slot.
• 13:31
  And it's crazy. A couple years later, I know
• 13:34
  it's different because Black Rock again they're holding
• 13:37
  Bitcoin on behalf of their clients versus strategy has a
• 13:41
  different strategy, no pun intended.
• 13:43
  But I think Saylor in his mind, he wants to be the the top dog
• 13:50
  champion of Bitcoin holdings and today he achieved that.
• 13:55
  So what this means for the upcoming bull market, once the
• 13:59
  price action starts to pick up again and I know we're on an up
• 14:03
  on an uptrend right now, this means that I think strategy for
• 14:09
  the next bull run is going to RIP like crazy.
• 14:12
  Because if you look at strategy stock price when it had the all
• 14:17
  time high, I think it was like a for the four hundred $500
• 14:21
  region. I'll double check, I forget the
• 14:22
  day. But the four $500 region, it had
• 14:26
  significantly less Bitcoin, Yeah, and it also didn't have
• 14:31
  this stretch product that has been.
• 14:33
  NN24. That has been basically success
• 14:40
  is putting it lightly. I'll put it I'll I'll put it
• 14:43
  like that, like the stretch product is truly and I I'm I'm
• 14:47
  saying this over and over again. We were we were one of the first
• 14:50
  to say this. It could be the iPhone moment
• 14:54
  for the financial markets powered by Bitcoin, right?
• 14:59
  Like it is an all it is a game changer for the fixed income
• 15:04
  markets because we've all seen the chart of bitcoins total
• 15:08
  addressable market. We've all seen it the 400
• 15:11
  trillion and then there's this little, you know, blip of of
• 15:14
  which Bitcoin is and you're like, wow, you know, Bitcoin's
• 15:17
  just getting started. What Sailor figured out is that
• 15:22
  that $400 trillion total addressable market, you need to
• 15:27
  create different products to tap into those different pools of
• 15:31
  capital. You're not going to be able to
• 15:34
  tap into the fixed income pool of capital unless you release a
• 15:39
  product specifically for that market.
• 15:42
  And that's exactly what Sailor has done with Stretch.
• 15:46
  And then of course, if you want to take a more risky approach,
• 15:50
  if you want the volatility, if you're not interested in just
• 15:54
  the fixed, you know that that fixed return, which of course
• 15:58
  isn't guaranteed, you go with the strategy stock, right, which
• 16:02
  again has more risk, but it also has more upside.
• 16:06
  So Sailor right now is positioning himself and his
• 16:11
  company to be one of the most the powerhouses of the next
• 16:16
  decade. It's undisputed.
• 16:18
  And there's a little bit of a hint of that, right?
• 16:21
  Sailor posted the other day. He says you have a car that
• 16:25
  drives you. What was the other thing?
• 16:27
  You have a car that drives you. I I forget I'll find it.
• 16:29
  I know what tweet you're talking.
• 16:30
  About so he's like, you have a car that drive that drives you
• 16:33
  and this is an acid that pays you and you have a car that
• 16:37
  drives you, which of course he's referencing Tesla, right?
• 16:40
  And the Tesla's undisputed advantage that it has, if you've
• 16:44
  ever been in a Tesla, you've turned on full self driving.
• 16:48
  The car literally drives itself. And now that they're getting
• 16:50
  into robotics, right? And then he actually, that's the
• 16:53
  other thing he mentioned. He mentioned the robotics part.
• 16:55
  Absolutely. Got it.
• 16:56
  Read it. You pulled it up.
• 16:58
  Yeah, yeah. So this is the tip.
• 17:00
  He says the three perfect products, the first two, he's
• 17:04
  referencing Elon. Now.
• 17:05
  This is a quite an interesting reference.
• 17:07
  And I'll give you guys a little bit of inside baseball.
• 17:10
  I remember when I was able to go to Sailor's house and we were
• 17:15
  like kind of a conversation. Elon got brought up in that
• 17:18
  conversation. I remember he, he, he was
• 17:20
  talking about it and this is like a perfect reference to
• 17:24
  this. So he says there's three perfect
• 17:26
  products. There's three perfect products.
• 17:28
  A car that drives you, a robot that serves you right.
• 17:34
  Again, that's alluding to Tesla's pivot where they
• 17:37
  discontinued the Model X and the Model S to open that factory
• 17:42
  bandwidth to make robots, right? Autonomous robots.
• 17:45
  Again, this is going to replace a lot of the workforce, or at
• 17:49
  least that's the theory, right? And again, no pun intended, the
• 17:53
  name of the robot is called Optimus.
• 17:55
  It'll never be me though. Actually it might be better than
• 17:58
  me another way. Which is, which is hilarious.
• 18:01
  And then the last part, of course, he's referencing himself
• 18:05
  and he's referencing his product and his company.
• 18:08
  So it's a car that drives you, a robot that serves you.
• 18:11
  Those first two are Tesla and #3 an asset that pays you.
• 18:16
  Now, I did mention Tesla for two reasons.
• 18:19
  First of all, of course, Saylor explaining the perfect products.
• 18:23
  But guys, out of the MAG 7, you know one of the only companies
• 18:27
  in the Mag Seven that owns Bitcoin, it's Tesla, right?
• 18:31
  They hold about 10,000. And they haven't sold any too
• 18:34
  and. They haven't.
• 18:34
  No, they they did they, they. Had one, they did that one.
• 18:37
  Initially but then when they got comfortable with it they are
• 18:40
  huddling. This and also there's rumors
• 18:42
  that Elon has a personal stack of Bitcoin as well and his kids.
• 18:47
  Have huge stack too. Elon was in the room when the
• 18:51
  Bitcoin, the strategic Bitcoin Reserve executive order was
• 18:55
  signed by Trump. Howard Lopnik was to Trump's
• 18:59
  right and Elon was to Trump's left.
• 19:02
  So again, just connect the dots here.
• 19:04
  We, we, we lay out the information, we lay out the
• 19:06
  source material. We try to connect the dots for
• 19:09
  you guys this next cycle. It is looking for it.
• 19:13
  It, it looks like it's we're ready for blast off.
• 19:16
  And before we went on air, Kent and I were talking, we were, we
• 19:20
  were talking on air before we, we, we sent the show live.
• 19:24
  And Kent, you were essentially talking, you were making the
• 19:26
  case that the last two cycles we saw like kind of like this, like
• 19:31
  muted price action, right? So could you elaborate a little
• 19:34
  bit about what you meant by that?
• 19:37
  Oh yeah, I I also am glad you brought up that tweet.
• 19:40
  I'm going to elaborate in just one second, but that tweet, it,
• 19:43
  it, it, it sort of is validating for a thesis I've had, which is
• 19:47
  basically sailor and is competing with Elon for God,
• 19:50
  King of planet Earth. At least that's how we see them
• 19:53
  both going and it's great. I mean, we love competition.
• 19:57
  But what I was alluding to was that, you know, from my vantage
• 20:01
  point since the ETFs launch and even before then is
• 20:03
  institutional capital started to sniff around.
• 20:06
  We needed to go through a time period where Bitcoin digested
• 20:10
  Wall Street. And I think a lot of Wall Street
• 20:12
  confused that the other way around and thought that they
• 20:14
  were digesting Bitcoin. But here's here's what you can
• 20:18
  now see playing out, which gets me.
• 20:21
  Rabidly bullish. I'm, I'm not drooling, but I,
• 20:24
  I'm quite bullish after seeing this news today, which is that
• 20:29
  just as like the pleb journey, the retail buyers, they set the
• 20:33
  bid at the bottom of the market every single cycle and they're
• 20:36
  just constant buying cause the price to grind through all the
• 20:39
  shorts out there. Basically sailor is the the
• 20:43
  buyer we needed but didn't deserve it looks now and I I'm
• 20:48
  not going to paint him as some some hero, but he was an actual
• 20:51
  bitcoiner that understood the scarcity and played with big boy
• 20:54
  capital in the markets and he's continuing to buy now now
• 21:00
  appears to be chewing through the Wall Street games and that's
• 21:05
  incredible for us because we have one of us in the chair with
• 21:09
  big boy capital able to do that and buy with conviction.
• 21:13
  So to me, the fact that you now see like basically, like there's
• 21:16
  been this massive lid through all these financialization
• 21:19
  products that have been sitting on top of Bitcoin's price with
• 21:22
  the UTF. And you can see as they're
• 21:24
  unwinding because they can't handle the risk with absolute
• 21:28
  scarcity that Bitcoin brings to the market because he's sitting
• 21:31
  there gobbling up this Bitcoin and taking it off and storing it
• 21:34
  for his own. And that is how you defeat the
• 21:37
  financialization games that could be played with other
• 21:40
  products, including gold, right? Because you couldn't actually
• 21:43
  say all the gold to make sure that all the gold is where it's
• 21:46
  said to have been with Bitcoin, when it's pulled out of the the
• 21:51
  game, it's out of the game. You can no longer buy Bitcoin to
• 21:54
  short Bitcoin. You know, you can't play these
• 21:56
  financial games. And so Bitcoin or Sailor, excuse
• 21:59
  me, has been playing the game, playing Wall Street against
• 22:03
  itself is what I see. So, I mean, the man's going to
• 22:06
  come out looking like a genius when it's all said and done.
• 22:08
  As long as he doesn't get too far out over his fees and puke
• 22:12
  out all his Bitcoin again because he got too levered up,
• 22:14
  which I still have some concern about.
• 22:17
  But as long as he can play the game the way it's currently
• 22:19
  going, like, yeah, it looks like he's got the lever to really
• 22:23
  move the markets here. 100% and there's a couple things that you
• 22:26
  touched on, right, which is this concept and and there's Max
• 22:30
  Keiser who originally coined the term, right, which is you don't
• 22:33
  change Bitcoin, Bitcoin changes you.
• 22:35
  And I think Wall Street had this, you know, again, going in
• 22:39
  there playing the Wall Street games, which they could with
• 22:42
  gold, right? And the reason they could with
• 22:44
  gold is because gold is scarce. But ultimately, if you see the
• 22:50
  price of gold, the inflation rate of gold is relatively
• 22:53
  stable. And the reason for that is if
• 22:55
  the price of gold goes up, then the economic incentive to again,
• 23:00
  roll out more gold mines, right? It, it, it, it, it just, it
• 23:05
  creates that economic incentive. So more people start mining
• 23:08
  gold. So it has a relatively stable
• 23:11
  inflation rate. Also, it's very hard to verify
• 23:15
  how much gold there actively exists in the market in the
• 23:19
  world. It's very hard to verify that
• 23:21
  with Bitcoin. Bitcoin's in stark contrast, we
• 23:24
  know that there's 21 million. So you could only play these
• 23:27
  paper games so far. We actually played a clip by
• 23:30
  Larry Leopard last week touching on this point exactly.
• 23:34
  These paper games, they kind of function as A2 edged sword,
• 23:38
  right? It's like you could play them
• 23:40
  until people realize, wait a second, why is there 25,000,000
• 23:45
  Bitcoin? And then that's when you see
• 23:47
  this crazy explosion to the upside.
• 23:50
  So I think Sailor essentially Trojan horsed Wall Street and
• 23:54
  then Wall Street came in there couldn't resist Bitcoins
• 23:57
  incentives, which again, Alex Gladstein predicted many years
• 24:01
  ago in this very famous article called Bitcoin is a Trojan horse
• 24:05
  for freedom where he was making the case that institution, this
• 24:08
  is by the way, this is before the ETF.
• 24:10
  This was before Sailor, this is before all nations, States and
• 24:14
  any of that. He was making the case that
• 24:16
  Bitcoin is going to be so irresistible to institutions, to
• 24:21
  companies, to nation states that they inevitably were going to
• 24:25
  let the Trojan horse in. But what they didn't realize is
• 24:29
  that number go up, technology and freedom go up.
• 24:32
  Technology are inextricably linked, right?
• 24:35
  And I think this is the big reason as to why the Elizabeth
• 24:39
  Warren camp, which fundamentally believe that the future of money
• 24:42
  are central bank digital currencies, were so starchly
• 24:46
  against the Genius Act or the Clarity Act.
• 24:51
  Because they know that once Bitcoin is integrated into the
• 24:55
  traditional financial system with the incentives that Bitcoin
• 24:58
  provides, it's going to be very difficult for banks.
• 25:03
  By the way, last week we've been making this announcement.
• 25:06
  The Morgan Stanley head of digital assets, who's going to
• 25:09
  be making an appearance at the Bitcoin conference, went on
• 25:13
  legacy financial TV and said this has been the most
• 25:16
  successful ETF launch in Morgan Stanleys history.
• 25:20
  Simultaneously, Citibank is making the announcement.
• 25:23
  Hey guys, we are going to be custodying Bitcoin on behalf of
• 25:28
  her clients simultaneously, Schwab, Schwab, right, the
• 25:33
  brokerage that initially denied Opti because he didn't have a
• 25:37
  certain amount of money to open an account released an
• 25:40
  educational video on Bitcoin this morning because they're
• 25:46
  getting prepared for launching their spot Bitcoin trading on
• 25:51
  the Schwab platform, right? So if you connect all these
• 25:54
  pieces together, ladies and gentlemen, Wall Street isn't
• 25:58
  just here. They're actively making products
• 26:02
  on top of Bitcoin. But what I don't think they
• 26:05
  realize, and ultimately I don't think they're going to care is
• 26:09
  that they're let they're, they're, they're changing the
• 26:12
  system from within because of the incentives provided by
• 26:16
  Bitcoin. But unlike the Fiat system that
• 26:19
  has a misaligned incentive structure, it's going to be very
• 26:24
  different. And I think it's going to be
• 26:26
  very, it's going to be very surprising for people once they
• 26:30
  come to this realization. And again, Max Keiser has also
• 26:33
  talked about this, that Wall Street can win, strategy can win
• 26:39
  strategy, can accumulate a million Bitcoin.
• 26:42
  But ultimately, if you're a holder of spot Bitcoin, you're
• 26:47
  benefiting from all of this just like these, the rest of these
• 26:51
  institutions from a percentage basis.
• 26:55
  And that is in stark contrast with everything else Wall Street
• 26:58
  has done in the past. And I don't, I don't necessarily
• 27:01
  believe that it's this grand conspiracy that Wall Street is
• 27:05
  doing this on purpose that, you know, the rich are getting
• 27:07
  richer and the poor are getting poorer.
• 27:09
  It's just the very architecture of the system itself.
• 27:12
  It's the Fiat system, it's the debt based system that results
• 27:16
  in that outcome. So Bitcoin is again integrating
• 27:21
  itself into Wall Street. It's changing Wall Street from
• 27:25
  within. Wall Street thinks it could
• 27:27
  change Bitcoin, but ultimately it's going to be Bitcoin that
• 27:30
  changes Wall Street. And it's and all the people that
• 27:33
  are spot bitcoiners, cypherpunks and they're like, Nico, why are
• 27:35
  we talking about what Bitcoin? Why are we, I mean, why are we
• 27:38
  talking about Wall Street? Why are we talking about
• 27:39
  strategy? I think a lot of people are
• 27:41
  going to be pleasantly surprised when they realize, wait a second
• 27:46
  and we've already seen little, we've already seen evidence of
• 27:49
  this when Larry Fink is at Davos literally talking about at the
• 27:54
  Davos desk with the snow in the back on CNNBC.
• 27:56
  And he's literally talking about, you know, how Bitcoin is
• 28:00
  a quote non sovereign alternative that those are Black
• 28:03
  Rock's words. Those aren't my words.
• 28:05
  Those aren't simply bitcoins words, right?
• 28:07
  And why is Larry Fink doing this?
• 28:09
  Why is Morgan Stanley doing this?
• 28:10
  Why is Citibank doing this? Because they all think that
• 28:14
  they're going to benefit from number go up simultaneously.
• 28:17
  The the holders, the plebs, the people that got in earlier, the
• 28:21
  people that got to the people that don't have as much capital,
• 28:23
  the people that got into Bitcoin because they saw it and as as an
• 28:26
  escape valve, right? They're going to benefit equally
• 28:30
  from from a percentage basis as these large institutions as
• 28:35
  number go up does its thing. And that's the revolution.
• 28:39
  That is the revolution, ladies and gentlemen, you're seeing it
• 28:42
  play out in real time. And going back to Trump, because
• 28:45
  we were giving a lot of heat to Trump, you know, over the last
• 28:49
  couple of weeks, there's a lot of decisions that he's made that
• 28:52
  we might not necessarily agree with.
• 28:54
  Ultimately, this previous election had a huge consequence.
• 28:59
  It had a massive, massive, massive consequence, and that
• 29:02
  consequence was that Bitcoin went from being an enemy of the
• 29:07
  previous administration to now being integrated to the current
• 29:12
  administration. You have Howard Lopnik, who's a
• 29:15
  bitcoiner. You have Trump's family.
• 29:17
  The president's son is going to be making an appearance at the
• 29:20
  Bitcoin conference. Despite even if the Democrats
• 29:24
  win the presidency in 2028. I think it's impossible to
• 29:30
  reverse all of this because that's at least another two
• 29:33
  years of Bitcoin benefiting Wall Street.
• 29:37
  And ladies and gentlemen, if you know anything about American
• 29:39
  politics, it's really Wall Street that makes the rules.
• 29:42
  Remember, guys, the BlackRock Bitcoin ETF.
• 29:46
  Despite Gary Gensler dragging his feet, despite the protests
• 29:51
  of Elizabeth Warren, despite Biden being in office, the
• 29:56
  Bitcoin ETF was launched during Operation choke .2 point O.
• 30:02
  That tells you how much influence BlackRock has.
• 30:06
  So despite all the ideological reasons, despite or whatever
• 30:09
  they cannot resist number go up technology.
• 30:14
  So this is a revolution. This is a transformation of the
• 30:17
  United States financial system and Bitcoin is the foundational
• 30:22
  base layer of all of these things and I completely agree
• 30:26
  with Kent and I also agree with Opti.
• 30:28
  I think that these paper games are going to blow up to the
• 30:34
  other direction because again, there's only 21 million Bitcoin.
• 30:38
  Eventually people are going to realize, hey, wait a second, why
• 30:41
  is there 25, right? And I think that is going to be
• 30:44
  the major catalyst for an explosion to the upside.
• 30:47
  Last thing I'll say because I've been rambling and I want to hear
• 30:50
  more of Ken's thoughts, is I don't think the markets have
• 30:54
  realized bitcoins absolute scarcity.
• 30:58
  I don't think they've come to that understanding yet.
• 31:01
  I think the moment markets sniff and they come to the realization
• 31:06
  that wait a second, this is the only asset in the entire planet
• 31:10
  that no matter what they can't make more of.
• 31:14
  And not only that, because of the halving cycles, the amount
• 31:19
  of the amount mined per having actually decreases.
• 31:24
  I think you're going to see fireworks the likes of which
• 31:27
  we've never seen before the the infamous, and I call it infamous
• 31:30
  because it was called too early Omega candle of 100 Ki.
• 31:35
  Think we're going to see that sooner rather than later.
• 31:38
  Now, does that mean it's going to happen this year or the year
• 31:42
  after? No, but I wouldn't be surprised
• 31:45
  if we saw it within a decade, right?
• 31:47
  Within this decade, I would not be surprised if we saw $100,000
• 31:51
  price movement in a day, right? It's that type of setup that is
• 31:57
  forming right now, that type of foundation, right?
• 32:00
  Anyways, Kent, I want to get your thoughts.
• 32:01
  Am IA crazy, man? Am I seeing things that are not
• 32:04
  there? You're a minor man.
• 32:05
  So I talked, I talked to like touched a little bit on the
• 32:08
  halving and how that plays into the scarcity aspect of Bitcoin.
• 32:12
  What are your thoughts, Kent? No, I'm, I'm on your train man.
• 32:15
  I'm I'm riding the ride with you bro.
• 32:17
  The the setup here is really crazy when I look at it I mean
• 32:21
  today right 450 Bitcoin are mined per day that is protocol
• 32:25
  limited can't change it. It is what it is every 1010
• 32:29
  minutes a new block is mined 3.125 Bitcoin plus transaction
• 32:33
  fees are the reward. So if you look at it, 450
• 32:36
  Bitcoin per day and what was the last purchase like almost 10,000
• 32:40
  Bitcoin that Sailor did and that was the week after this, you
• 32:44
  know, 20,000. I mean, it's insane how much
• 32:47
  supply is being gobbled up. Much more than can be produced.
• 32:50
  And guess what 2028 is when the having happens.
• 32:54
  And when that happens, 225 Bitcoin per day are going to be
• 32:57
  produced. So the rates and the numbers
• 32:59
  just don't match up. And Wall Street has never dealt
• 33:02
  with anything that is absolutely purely scarce.
• 33:06
  Humanity has never dealt with anything is absolutely scarce.
• 33:09
  Everything that is out on our planet that can be produced and
• 33:14
  used as a monetary good, as the price goes up, you can go out
• 33:18
  there and figure out how to get more of it, right?
• 33:20
  Like this is the first time in human history that we've ever
• 33:22
  had to wrestle with digital absolute scarcity.
• 33:25
  And so as a result, I don't think the markets could price
• 33:27
  this in. I think we're on a price
• 33:29
  discovery journey with it. And I think that if you look at
• 33:32
  the last two cycles as basically institutions coming in, starting
• 33:35
  to play derivative games with Bitcoin re hypothecation, I
• 33:40
  think that we've been digesting Wall Street sentiment.
• 33:42
  And I do agree with you. And I think it's sooner than
• 33:45
  later, not in the next year, a year and a half.
• 33:47
  But I would not be surprised if like what we're talking about
• 33:50
  here is like phase shift Monday where we're going to see a shift
• 33:55
  at some point where people are just going to breakthrough and
• 33:57
  start buying. Like, let me give you guys some
• 33:59
  numbers that I, I talked about in one of my presentations,
• 34:01
  right? Global M2 right now is $110
• 34:04
  trillion. Global M2 is liquid capital,
• 34:08
  liquid capital, right? This isn't stuff that's stored
• 34:10
  away in assets. This is just the money that's on
• 34:13
  the market. And when they quote that number,
• 34:14
  guess what? They also don't call count
• 34:17
  smaller developing nations when they talk about global M2.
• 34:20
  It's, it's the major economies, $110 trillion.
• 34:23
  If you look at Bitcoin right now on exchange and you multiply out
• 34:27
  that there's about 2.2 million on exchange and you multiply
• 34:30
  that by 75,000 about the price of today.
• 34:33
  Guess what, it's not even a fraction of global M2.
• 34:37
  And that's like stage 1 of global adoption.
• 34:41
  So it is quite likely in my opinion that and it's part of
• 34:44
  what I'm building for here at SAS Mining is that there will
• 34:48
  come a point where you can't go to an exchange and buy Bitcoin.
• 34:51
  You're going to have to figure out way to earn Bitcoin and
• 34:53
  that's going to be a radical different reality because
• 34:56
  absolute scarcity is going to kick in at that point and people
• 34:58
  are going to price their goods and services to be able to
• 35:01
  extract the Bitcoin from the people that have it.
• 35:05
  And, and then medium of exchange comes after that.
• 35:07
  But we've got so much free floating Fiat capital that's out
• 35:12
  there that is going to eventually wake up and realize
• 35:15
  it wants Bitcoin that I don't see how anything can happen
• 35:19
  other than a dramatic step change in the price when it
• 35:22
  does. Supply and demand are just not
• 35:25
  going to meet at all in that moment and price is going to
• 35:27
  radically adjust. And does that make it the Omega
• 35:29
  $100,000 candle? Probably.
• 35:32
  I mean, I don't even know what reality looks like.
• 35:34
  But I, I will say, for all of our sake, we want this to go
• 35:37
  more gradual than slowly because our financial markets need to,
• 35:40
  to adapt for all of our health and, and benefit, right?
• 35:43
  If there's a sharp break, I guess it's going to be chaotic
• 35:46
  in a way that I don't think any of us are really going to be
• 35:48
  happy about. And frankly, most of us
• 35:50
  Bitcoiners are going to want to duck and cover a little bit to
• 35:52
  stay out of the limelight when that happens.
• 35:54
  So let's hope that doesn't happen, and let's hope we have a
• 35:57
  a nice slow, gradual gift from a Fiat to Bitcoin.
• 36:03
  Absolutely 100% agree with you Opti.
• 36:06
  Thoughts. Yeah, no, I mean, I, I
• 36:09
  completely agree. And I really like the phase
• 36:12
  shift Monday. The we might, we might be a
• 36:13
  little too early to call it phase shift Monday today, but
• 36:16
  we'll, we'll, we'll try to keep that going.
• 36:18
  It does seem though like it, it's happened a lot slower than
• 36:22
  we probably imagined it was going to.
• 36:25
  And that's kind of how it always works with those bit corners
• 36:27
  like we're living in the future and we think things are
• 36:29
  happening very fast because we're watching all of the news
• 36:32
  play out. But in the day-to-day it, it
• 36:35
  seems like it takes forever. But I think what we are seeing
• 36:40
  and it will take a little more time is I, I think Sailor is
• 36:43
  literally put putting on a master class right now.
• 36:46
  And I know a lot of people have turned a little negative on
• 36:50
  Sailor recently because he's talking to a more corporate Wall
• 36:54
  Street kind of audience at this point.
• 36:56
  He's doing the orange pill in terms that they understand and
• 37:01
  he might have just pulled off the biggest Trojan horse on them
• 37:03
  where they think they're like Ken said, they think they're
• 37:05
  coming in here and they're going to control Bitcoin.
• 37:08
  In reality, it seems like maybe sailor sigh up them into bump
• 37:12
  pumping his bags and he is going for the God king role right now.
• 37:16
  So very interesting time to say the least.
• 37:18
  Obviously, it could be just because the price is feeling a
• 37:21
  little frothy that even Nico's starting to feel a little
• 37:23
  bullish. But man, it is a very
• 37:26
  interesting time right now if you're watching not just the
• 37:29
  Bitcoin price, the global markets, the amount of interest
• 37:32
  coming into Bitcoin, the amount of news that is playing out
• 37:35
  around Bitcoin. It's it's going, I think it's
• 37:38
  going to end up being a very interesting year.
• 37:40
  And we're probably all going to be a lot happier by 2027.
• 37:44
  We're like, OK, we're back guys. And I'm with Kent.
• 37:47
  I would love to see this cycle blow every other cycle out of
• 37:51
  the water because the last two cycles have been very
• 37:54
  disappointing. And I know a lot of people are
• 37:55
  like, man, I missed all the gains in Bitcoin.
• 37:58
  Why would I want to buy Bitcoin if it's only going to go up 20?
• 38:01
  You know what, I forget what the last cycle.
• 38:03
  It's all if it's only going to go up about a 6X, what's the
• 38:06
  point in this? It might, this might be a crazy,
• 38:09
  crazy bull run. It really feels like it's the
• 38:12
  gradually then suddenly mean playing out.
• 38:14
  And that gradual could play out longer than we expect.
• 38:18
  But when that suddenly comes, we're all going to be very happy
• 38:21
  that we were huddling and holding Bitcoin and and, you
• 38:23
  know, feeling like idiots for at this point, what, five years?
• 38:28
  But hey, it's still coming, guys.
• 38:30
  Absolutely, I I 100% agree guys, it's going to be a fantastic
• 38:34
  show. We have tons to cover.
• 38:36
  We have updates 0600 live viewers on YouTube alone.
• 38:39
  That's air horns. So anyone who's watching the
• 38:47
  show smash that like button, consider subscribing to some of
• 38:49
  the Bitcoin and stay tuned because we still have a hell of
• 38:52
  a show for you guys. We're going to be talking about
• 38:55
  wild sats later. We're going to be talking about
• 38:57
  the Clarity Act. We have a Roman Storm update on
• 39:01
  mixers, so regulatory update. And also Matt Hogan, he's
• 39:06
  dropping the price predictions again.
• 39:08
  He's calling for 1,000,000 price predictions back on the table,
• 39:11
  $1 million Bitcoin and he's and he describes what the catalyst
• 39:15
  is going to be. So all that again extremely
• 39:18
  interesting. You guys are going to want to
• 39:20
  stay tuned. We're going to be right back in
• 39:22
  just a SEC. Today's episode is brought to
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  Hi everybody, we are back At the time of recording, the Bitcoin
• 41:39
  price is $75,780 sats per dollar 1320 block height 945,949
• 41:48
  Realized monetary inflation .83% market cap 1.5 trillion Bitcoin
• 41:53
  versus gold market cap 5.05% percentage issued 95.32% decline
• 42:00
  from all time high. If you're buying Bitcoin right
• 42:01
  now, you're getting it at a 39% discount, so it's probably a
• 42:06
  good idea to smash that like button.
• 42:09
  Anyways, I don't want to delay it anymore.
• 42:11
  Here's Matt Hogan talking about $1,000,000 Bitcoin.
• 42:17
  Once again, Matt Hogan is the CIO of Bitwise Asset Management.
• 42:22
  Let's check out the clip. Put it that way, you mentioned a
• 42:26
  $1 million Bitcoin. Talk to me a little bit about
• 42:29
  timeline there or what needs to happen for us to get to a $1
• 42:32
  million Bitcoin? Floor.
• 42:34
  Yeah. I mean, you know what we talked
• 42:35
  about in our long term capital market assumptions is that all
• 42:38
  you need to get to $1,000,000 Bitcoin is for the store value
• 42:42
  market to continue to grow the way it's been growing for the
• 42:46
  last 20 years. That market has grown at a 12%
• 42:48
  CAGR for the last 20 years. If that continues for the next
• 42:52
  10 years and Bitcoin ends up with like 1517% of the market,
• 42:57
  it's at 6% today, you're talking about $1,000,000 Bitcoin.
• 43:00
  So you don't need much to get there over a 10 year period.
• 43:04
  In terms of what could accelerate that time frame,
• 43:07
  things like what happened recently where Bitcoin as a
• 43:10
  currency find space in the world could significantly accelerate
• 43:15
  that progress on the regulatory front.
• 43:17
  If we do get good news on the Clarity Act, that would
• 43:20
  significantly accelerate that. But I don't think that much has
• 43:24
  to happen in order for us to get to that billion dollar price
• 43:27
  target within 10 years. Again, just the market continues
• 43:31
  to need to go in the direction it's been going for the last 10
• 43:34
  years. You extrapolate that trend, I
• 43:36
  think we'll get there. I mean, what do you think Opti?
• 43:43
  I think 1,000,000 in 10 years is bearish.
• 43:47
  No, no, no, I'm, I'm kind of trolling, but I think this
• 43:52
  framing, well, first of all, you know, I think I think it is a
• 43:56
  little, a little early and maybe that's just like a, a general
• 44:01
  summary of where we are in the markets.
• 44:03
  Like we, we are starting to feel a little better about the price.
• 44:05
  Now, obviously that is this week, this is this Monday, this
• 44:09
  is on phase shift Monday, but who knows, next week maybe Trump
• 44:13
  tweets something and the markets get naked again.
• 44:15
  So in the, in the current moment, with that in context, I
• 44:19
  really like this framing in, in terms of it's really not that
• 44:23
  insane when you think about it. Like obviously in the early
• 44:28
  days, I remember when I got into Bitcoin in 2017, 100K was like,
• 44:33
  it might get to 100K one day. It's going to get there, but all
• 44:36
  of these things need to play out for it to get there.
• 44:39
  And then we hit 100K. We all knew it was going to get
• 44:41
  there, but it was still a big like if, like if, if this
• 44:45
  catches on, we're going to go there.
• 44:47
  Now. If you really read the context
• 44:49
  here, kind of like between the lines, I don't think any of us
• 44:53
  here in Bitcoin, if you understand what's going on
• 44:55
  currently. Like if you're taking the
• 44:57
  initial news story, if you're taking all of the big news that
• 45:00
  we've been covering in the last few weeks that literally every
• 45:02
  bank, hedge fund asset manager, even states or, you know, sorry,
• 45:07
  nation States and countries in the world, they're no longer
• 45:11
  looking at Bitcoin like it's this dumb thing that's going to
• 45:14
  go away. They're they're starting to
• 45:16
  actively research Bitcoin in a way that it's never been treated
• 45:19
  before, in a way where it's like, I have to own this thing.
• 45:23
  So with that in mind, the, this idea now it's like, look, not
• 45:26
  that much has to happen for Bitcoin to 10X here.
• 45:30
  Well, all right, I'm, I'm using the 100K line.
• 45:32
  Basically, you know, 10X from 100K is 1,000,000.
• 45:36
  It's like, not it, It's not as crazy as it sounds.
• 45:40
  Unless you're someone that's kind of still new to Bitcoin,
• 45:42
  you're like, oh, this thing could never go that high.
• 45:44
  They, they just really don't understand how Bitcoin moves.
• 45:47
  Maybe they have this idea that, oh, you know, the bigger the
• 45:51
  market cap, the harder it is for the, for Bitcoin to move up at
• 45:55
  these crazy exponentials. But when you put in the context,
• 45:58
  especially if you consider what's going on with stretch
• 46:01
  here, it's not that much capital from the in the context of the
• 46:06
  global liquidity pools in, in the context of all of the
• 46:09
  capital in the world, all of the money in the world, just to put
• 46:12
  it nicely, it's not that much for Bitcoin to make crazy moves,
• 46:17
  especially if your time frame is what, 6-6 years, the whole year,
• 46:22
  But. It but it's not only that,
• 46:24
  right? It's like if you take a look at
• 46:27
  how much stretches buying weekly.
• 46:30
  They're. Buying more of the weekly mine
• 46:34
  supply and that's just stretch. That's not talking about
• 46:38
  BlackRock, that's not talking about the sovereign wealth
• 46:40
  funds, that's not talking about anyone.
• 46:42
  That's just one product, right. So this goes back to what I was
• 46:47
  talking about earlier. I don't believe Wall Street has
• 46:50
  woken up to the realization that Bitcoin is truly absolutely
• 46:57
  scarce. And I think once that
• 46:59
  realization snaps, once it clicks, I think that's where
• 47:04
  you're going to see those price movements.
• 47:05
  Now going back to this, because again, we have been kind of like
• 47:10
  in this five month kind of bear trend and the price action
• 47:13
  hasn't been all that great, etcetera, etcetera.
• 47:16
  Like guys, when Bitcoin in the early days, I remember like 10
• 47:20
  years ago, I remember when Bitcoin was at like 6-7 hundred
• 47:24
  dollars, it was unimaginable that it could even get to
• 47:30
  10,000, right? Like it was like it was
• 47:33
  inconceivable. It was like, this is impossible,
• 47:36
  right? And I felt late.
• 47:38
  I was like, no, this is impossible.
• 47:40
  Like this can't happen. Like, you know, that's, that's,
• 47:42
  that's more than a tech 10X move.
• 47:44
  Look at how big its market cap is now.
• 47:46
  I mean, like that's almost impossible.
• 47:49
  And Bitcoin did that right? That move from 700 to 125,000
• 47:56
  right is absolute insanity, right?
• 47:59
  So are, are you trying to like convince me that?
• 48:03
  And again, it's not a it's not 100 X move.
• 48:05
  Are you trying to convince me that in the next decade we're
• 48:08
  not going to at least see potentially A10X move,
• 48:12
  especially with all the things we've been talking about
• 48:15
  specifically in the beginning of the show?
• 48:17
  Like I and someone I saw in the chat was like like 1,000,000
• 48:20
  would be a disappointment. We.
• 48:22
  We, we should we we we should be.
• 48:24
  Going a lot higher, and I tend to agree with that.
• 48:27
  But again, this is someone who is associated with the publicly
• 48:30
  traded company. He can't go full.
• 48:33
  Boltart can't go full. Opti on him.
• 48:35
  He can't go full Boltart, so yeah.
• 48:37
  Anyways, I want to get your thoughts.
• 48:40
  Kent wait. Wait, before we go, remember,
• 48:42
  remember we were saying 1,000,000 by 2030 and we're
• 48:45
  like, that's totally going to happen now.
• 48:47
  It's like a million in 10 years. I think that's bearish and.
• 48:51
  And again, I, I, I want to get your thoughts on this Kent,
• 48:54
  because again, you, you are a Bitcoin entrepreneur, a
• 48:56
  successful 1, you run a successful Bitcoin company.
• 48:59
  You're the CEO of a, of a company in the space.
• 49:03
  And anybody that has a company in the space, it's completely
• 49:06
  tied to number go up, right? Every single company in the
• 49:10
  Bitcoin ecosystem is dependent on number go up.
• 49:14
  If number doesn't go up, things start to break in the Bitcoin
• 49:19
  industry, right. So I want to get what your take
• 49:22
  is. How are you planning, you know,
• 49:24
  for your you know, for your personal future, your you know
• 49:27
  your personal finances. What are you planning for your
• 49:30
  company's finances? What are your expectations at
• 49:33
  least by 20-30? And guys, 2030 is not that far
• 49:36
  away. It's three and a.
• 49:38
  Half years away. Well, he didn't say 10 years.
• 49:39
  Though I know, I know, but I want, I want to talk.
• 49:41
  About 20-30. So I want to get your thoughts
• 49:43
  on this Kent. Like what are your thoughts,
• 49:45
  man? What do you thinking by 20-30?
• 49:47
  Like what? What is the base case for?
• 49:49
  You think you're muted, my friend?
• 49:56
  Can't. Can't.
• 49:56
  You're muted. You're muted.
• 49:59
  My bad. I, I, I was all excited there.
• 50:03
  But we're all in 20-30 right? Is $1,000,000 We, we, we can get
• 50:07
  rid of the 10 year garbage, right?
• 50:10
  Because that just seems ridiculous to me.
• 50:12
  I mean, so the, I, I go back to something quite similar as you
• 50:16
  were talking about Nico, right? Like I got in, I think similar
• 50:19
  time late 2015. And the prices from then to 100K
• 50:24
  just seem absurd. And so for me to now look at
• 50:27
  100K to a million, that seems highly probable now.
• 50:30
  And maybe it's just a journey that I've been on and when I
• 50:33
  adopted Bitcoin, but it just doesn't seem absurd now the
• 50:36
  amount of dollars that have to flow in is quite large, the
• 50:40
  trillions, right, that have to increase the market cap to that
• 50:43
  level. However, it's like the journey
• 50:46
  that we've been on so far. I, I mean, let me, let me go
• 50:48
  back and just use an analogous situation.
• 50:50
  This is 1/3 business that I've been a part of scaling, right?
• 50:54
  Help this business go from two people to now we've got 15 staff
• 50:58
  at SaaS Mining and two other companies in the rooftop solar
• 51:01
  space. I was like employee 16 and
• 51:03
  helped to scale it to 250. And then I was in another
• 51:05
  company like employee 55 and helped to scale it to 350.
• 51:09
  And I will tell you the 1st 15 people here at SaaS Mining have
• 51:13
  been so much harder than it was to go from 16 to 250 people.
• 51:17
  And that's because the start is always the hardest part to get
• 51:21
  product market fit to get, get the marketing message, right.
• 51:24
  And why would it be indifferent for Bitcoin, right?
• 51:28
  And we've just gone through what year 17 of a product that is
• 51:33
  meant to disrupt what we have defined as money for 5000 plus
• 51:37
  years. Why would we think that that
• 51:38
  would go super quick? I mean, I was, I'm guilty of it
• 51:41
  myself. I, I thought we'd be $1,000,000
• 51:44
  sooner given the last couple cycles.
• 51:47
  I thought 2017 cycle was a harbinger for what's going to
• 51:50
  come, right? I thought all the next cycles
• 51:52
  would be that way. And as we've already talked
• 51:53
  about, they haven't. So OK, it's going to take a
• 51:57
  little bit longer, but to go from 100,000 to 1,000,000, a
• 52:01
  simple 10X, that doesn't seem absurd to me to happen in the
• 52:04
  next 4 years, especially with halvings coming up in 2028 where
• 52:08
  we go for 450 Bitcoin a day to 225 and the Michael Saylor's
• 52:12
  buying thousands upon thousands on an almost daily basis now.
• 52:16
  I mean, it's crazy. It just seems like a supply
• 52:18
  demand mismatch. And so come back to the very
• 52:20
  beginning of what we've already talked about.
• 52:22
  Like at some point kaboom happens and we go, we go, we go
• 52:26
  really up from there. And I will just mention like
• 52:28
  the, the simple 10X, right? Like if you just look at the,
• 52:31
  the bottom of the last cycle was like 15.8 K, something like that
• 52:36
  point 15.6 K, we went to 126 K So the idea of a 10X is not that
• 52:43
  not that extreme over a four year time period because it was
• 52:46
  pretty close to that for what we did just this last cycle.
• 52:50
  Absolutely 100%. And as you said in the beginning
• 52:53
  of the show, I I believe these, these previous two cycles were
• 52:58
  muted, right? Like this previous cycle, yes,
• 53:02
  1516 thousand to 125 that's a huge like percentage return.
• 53:07
  That's fantastic. But we never had a euphoric
• 53:12
  phase. I believe a lot of that euphoria
• 53:14
  was it. We did have a euphoric phase,
• 53:16
  but it was in the treasury companies.
• 53:19
  And then the cycle before that, I believe that cycle was cut
• 53:23
  short because of the China mining ban, right?
• 53:25
  Because you see, there's a direct correlation between the
• 53:28
  first peak China man's the China bans, the CCP bans Bitcoin
• 53:34
  mining hash rate drops 50%. Of course, those miners have to
• 53:38
  sell Bitcoin to relocate to other more favorable
• 53:42
  jurisdictions. So the, the, the cycle 2 cycles
• 53:47
  ago cycle was cut short because of the China mining ban.
• 53:49
  I think we were destined to reach 100K that cycle.
• 53:52
  That's my opinion. We only reached 69 and we had
• 53:54
  this like weird double top. And then this previous cycle, we
• 53:58
  never had a euphoric, euphoric phase whatsoever.
• 54:02
  I think it was a cycle that tapped on like it, it topped on
• 54:05
  apathy, right? And again, you had most of the
• 54:09
  alpha in the treasury companies. So I think that this next cycle,
• 54:13
  we are destined, my, this is my belief, we're destined to have
• 54:17
  that traditional run up, which again, breaks that narrative of
• 54:22
  the diminishing returns, right? So anyways, only the future
• 54:27
  will, you know, will show this, right?
• 54:28
  We're, we're, we're speculating here.
• 54:30
  We're, we're, we're trying to connect the dots.
• 54:32
  We're we're reaching assumptions based on the information that we
• 54:36
  have. Everything seems extremely
• 54:38
  bullish, but at the end of the daytime will tell, right?
• 54:42
  And as I've said a couple weeks ago on the show, I said, you
• 54:45
  know, Bitcoin needs to prove itself, right?
• 54:48
  Because just like it proved itself when it went from $100 to
• 54:52
  1000, just like it proved itself when it went from $100 to
• 54:55
  10,000, just how it proved itself that it went from 10,000
• 54:59
  to 100,000, even though we all believe that was going to
• 55:03
  happen, despite those hardcore beliefs that we had.
• 55:08
  You can have those beliefs, but unless it actually plays out in
• 55:12
  reality, it's not real yet, right?
• 55:15
  So. It it's kind of like you, you
• 55:17
  have you, you, you have the game theory, you have everything set
• 55:20
  up, you have all the stars and planets lined up for that
• 55:23
  trajectory. But it's still, you know, it
• 55:27
  reminds me of like that very famous video, which I think I
• 55:31
  forget what company, they made an ad about this where they got
• 55:33
  the same guy that was, it's like, Oh my God, Bitcoin's
• 55:36
  breaking 100. Dollars don't buy Bitcoin.
• 55:38
  It's gonna crash again, Yeah. And no, but there's this other
• 55:40
  one where he's like pointing out an old TV and he's like, Bitcoin
• 55:43
  just broke $100 or something like that.
• 55:45
  Like it, it, it's the type of thing where like you need to
• 55:49
  live through to actually believe, right?
• 55:53
  That's it's, it's like you can have, you can read all the books
• 55:57
  you want, but unless you live through it, you know that's
• 56:00
  where it's at. So I think the next stress test
• 56:03
  for Bitcoin, where Bitcoin needs to prove itself is can Bitcoin
• 56:06
  get to that half $1,000,000 million dollar region?
• 56:10
  And I think there's a very, very high probability that it does.
• 56:13
  Can can I? Can I have a different angle on
• 56:15
  this? It's it's not just can Bitcoin
• 56:17
  make it to a million? It's really like, can Bitcoin
• 56:20
  survive Wall Street? And I think that's like the
• 56:24
  that's the big question. I.
• 56:25
  Don't think Bitcoin. I don't think Bitcoin is
• 56:27
  surviving Wall Street. I think Bitcoin is Co opting.
• 56:30
  Well, I know, but that I think because we all had that idea,
• 56:33
  like, all right, you know, we've actually gotten a lot of
• 56:36
  flackers like, oh, here's simply Bitcoin cheering on the
• 56:38
  institution. It's like, well, yeah, we
• 56:39
  thought they were going to pump our bags and now we're realizing
• 56:42
  like they're not going to Co opt this thing, they're going to get
• 56:47
  Co opted. And that's, I think, the big
• 56:49
  test, but only time will tell. Anyways, I see a a comment which
• 56:54
  is a perfect segue for the next segment.
• 56:56
  We're going to be talking about Clarity somewhat down under.
• 56:59
  Blues says maybe Clarity needs to pass to help get new
• 57:02
  investors. We had Frank Holmes, executive
• 57:05
  chairman of Hive Digital Technologies, the first publicly
• 57:09
  traded Bitcoin miner. He came on the show and we were
• 57:11
  talking about Clarity and he and he and he and someone else from
• 57:17
  Hive came on the show and Frank said, quote, if Clarity passes,
• 57:22
  we're going to, we're going to see at least quarter $1,000,000
• 57:24
  Bitcoin because it is, it's in the name, it's going to provide
• 57:27
  clarity. So we're going to have, we have
• 57:29
  an update for you guys on that topic specifically.
• 57:32
  We'll be right back in just a bit.
• 57:36
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• 59:23
  All right, everybody. So I have an update for you guys
• 59:26
  from legacy media. Again, this is front row and
• 59:30
  center, right. You have Treasury Secretary
• 59:32
  Scott Besson advocating for it. You have the White House
• 59:34
  advocating for it. And again, this is being talked
• 59:37
  about on legacy media, right? This is front and center.
• 59:41
  This is how important it is. And it is again, a a a big part
• 59:45
  of the Trump administration's agenda and they have until
• 59:49
  November to pass it. Clarity is so important.
• 59:52
  Let's check out one of the latest clips.
• 59:55
  I can understand the banks being upset with Coinbase and other
• 59:59
  companies because they, they, they were forced to accept this.
• 1:00:02
  I think, I mean, initially, you know, many of the banks are
• 1:00:04
  saying, well, no, you know, we're going to get there, but
• 1:00:06
  we're not there yet. Yeah, look, that mean it really
• 1:00:09
  interestingly, we have actually partnership with some of the
• 1:00:11
  biggest banks around the world, including the biggest U.S. banks
• 1:00:14
  because they understand the future is tokenization and
• 1:00:17
  stable coins. They're looking for a partner to
• 1:00:19
  build with. We're excited to be the partner
• 1:00:22
  of the biggest banks. But the Beltway is a funny
• 1:00:24
  place, Maria. As you know, there's a kind of
• 1:00:26
  an ecosystem of, of people who spend all their time fighting
• 1:00:30
  over things in Congress. I wonder there's a, there's a
• 1:00:33
  bit of a disconnect with what we see in DC and what we see with
• 1:00:35
  their business folks. I think we'll be able to resolve
• 1:00:38
  that. The banks are critical as a part
• 1:00:40
  of this future on chain future. I think there's a lot of
• 1:00:43
  opportunities for them. We want to help them get there
• 1:00:45
  and I think we we're excited about.
• 1:00:46
  So right now you can pay. It's the, the legislation as you
• 1:00:51
  know it will be that yeah, you can pay rewards if you're part
• 1:00:54
  of a membership program. Real quick, explain where you're
• 1:00:57
  expecting clarity to land. So the law of the land is if a
• 1:01:01
  customer has a balance on our account, we can pay them a
• 1:01:03
  reward. The banks have got really
• 1:01:05
  concerned about this. They said no, no, there has to
• 1:01:07
  be some activity before you qualify for the reward.
• 1:01:10
  We've we've conceded that point. It's just a matter of how you,
• 1:01:14
  what the fine print looks like. And I think we'll get there.
• 1:01:16
  So the reason that this is such a big hang up is and, and, and
• 1:01:20
  I've explained this a couple times, right?
• 1:01:23
  The reason that the banks see clarity act as, as, as such a
• 1:01:27
  threat. And the way that it's, it's
• 1:01:29
  currently structured is that banks don't currently most
• 1:01:32
  retail banks, not only do they, they pay very, very little
• 1:01:37
  interest on deposits, right? Because fundamentally, like a
• 1:01:40
  bank is making money off of your money, right?
• 1:01:43
  So technically you should be getting paid for that.
• 1:01:45
  Back in the day, you used to be able to get interest on deposits
• 1:01:49
  in a bank, right? And the banks are freaking out
• 1:01:52
  because Coinbase is going in there.
• 1:01:54
  And I already have friends, by the way, that like don't even
• 1:01:57
  have a bank account. They just use some of the new
• 1:01:59
  apps like Cash App and stuff like that.
• 1:02:01
  And the banks are freaking out because they're basically coming
• 1:02:03
  to the realization that like, wait a second, like what if
• 1:02:07
  people just don't have dollars in accounts period, because they
• 1:02:12
  can just leave it on Coinbase and they're going to get a three
• 1:02:16
  4% interest paid in Bitcoin. What's going to happen to our
• 1:02:21
  deposits? Like why would people leave
• 1:02:23
  money in the bank? And by the way, not only do they
• 1:02:25
  not pay you interest, they charge you a monthly maintenance
• 1:02:29
  maintenance fee if you have below a certain balance, right?
• 1:02:32
  So it's a 1-2 punch. And then Coinbase is going in
• 1:02:35
  there as an innovator and saying, listen, and, and I love
• 1:02:39
  the word he's using, right? And they're being political,
• 1:02:41
  right? It's just like, we'll pay you a
• 1:02:43
  reward. Again, it's just interest.
• 1:02:45
  It's a form of interest, right? That reward is, is directly
• 1:02:48
  correlated to the amount of, you know, USDC or whatever, you
• 1:02:51
  know, whatever token that you have on the platform.
• 1:02:55
  So, and that's really the big hold up.
• 1:02:56
  That's really what's holding clarity act up.
• 1:02:58
  But it seems like it's coming to a resolution.
• 1:03:01
  Tim Scott was talking about Scott.
• 1:03:02
  Tim Scott is the head of the Senate Banking Committee for the
• 1:03:05
  Republicans again, really championing this bill forward.
• 1:03:08
  And of course, you have the Bitcoin senator, Senator Cynthia
• 1:03:11
  Lummis. And again, she's been pushing
• 1:03:12
  for this as well. You have pressure from the White
• 1:03:14
  House. So again, unfortunately, this is
• 1:03:18
  the way that US legislation works where like part of the
• 1:03:23
  legislation groups in that are not things that are Bitcoin
• 1:03:26
  related. What I'm personally excited
• 1:03:29
  about with clarity is not only again, providing regulatory
• 1:03:34
  certainty for companies and institutions, but it actually
• 1:03:37
  protects the right to self custody.
• 1:03:39
  It enshrines that into law, which I think is incredibly
• 1:03:42
  important. As a bitcoiner, of course, you
• 1:03:45
  would want just a bill to get past just enshrining that, but
• 1:03:49
  that's not the way that legislation works.
• 1:03:51
  Unfortunately, all of these things need to be grouped into
• 1:03:54
  one bill, but that's just the way it is, right?
• 1:03:57
  So I have to check the latest Poly market odds, but that's the
• 1:04:01
  latest update on the Clarity Act.
• 1:04:03
  I think that if it gets signed into a law, currently it's at a
• 1:04:07
  48% chance, down 17% OPTI. But if it gets passed into law,
• 1:04:13
  Frank Holmes, Frank Holmes quotes we'll see 250,000 dollar
• 1:04:18
  Bitcoin if it doesn't get passed.
• 1:04:20
  I don't think this type of this type of legislation is going to
• 1:04:23
  get passed in a while because it looks like the Dems are going to
• 1:04:28
  take the House in in November. They might take the Senate and
• 1:04:33
  they might take the presidency in 2028.
• 1:04:35
  So, you know, the, the talk, the, the, the, the clock is
• 1:04:39
  ticking for this type of, of, of law to get passed.
• 1:04:43
  So it's already passed the House, but the House only needs
• 1:04:45
  a simple majority in the Senate. They need a filler, A filler
• 1:04:49
  Buster proof vote, which is at least 60 votes.
• 1:04:53
  They need that 60 vote threshold when meet, which means it needs
• 1:04:57
  to be bipartisan. It can't just be advocated for
• 1:05:02
  by the Republicans. So anyways, that's the latest on
• 1:05:05
  the Clarity Act. We'll keep you guys updated as
• 1:05:08
  this develops. But again, this is a major
• 1:05:10
  talking point on legacy media on, you know, on Capitol Hill.
• 1:05:14
  And yeah, let's see what happens.
• 1:05:16
  Anyways, Opti, I wanna get your thoughts.
• 1:05:17
  We've been covering this for a while, man.
• 1:05:20
  You know, we, we've it, it was April.
• 1:05:23
  Now it's almost the end of April, right?
• 1:05:26
  And and now I'm saying they're saying like maybe May.
• 1:05:28
  Right. So yeah, this, this, this needs
• 1:05:31
  to get passed. This needs to get spat and it's
• 1:05:33
  not helping. Also, This is why we talked
• 1:05:36
  about this. It's not helping the the, the
• 1:05:39
  conflicts in the Middle East. I feel like it's taking away a
• 1:05:42
  lot of the focus from things like this, from the from the
• 1:05:47
  national agenda. Right.
• 1:05:49
  So, OK, here's my take. Here's my take.
• 1:05:52
  I, I might be a little less bullish on the Clarity Act as
• 1:05:56
  you. The only thing that I think is
• 1:05:58
  bullish of this is like there are people waiting on the
• 1:06:00
  sidelines for the Clarity Act to pass.
• 1:06:03
  So that's probably like the, in my opinion, the only good thing
• 1:06:07
  that'll come from this, but from not just the Betty market odds,
• 1:06:11
  but really from a lot of the updates we've been hearing.
• 1:06:14
  Though last week we did get probably the most significant
• 1:06:17
  update that it seems like this stable coin reward thing has
• 1:06:20
  been resolved. The list of basically things
• 1:06:25
  they disagreed on from both sides of the aisle from and also
• 1:06:28
  from the Bitcoin crypto industry and the banks.
• 1:06:31
  It's gone from like 12 disagreements down to like two
• 1:06:34
  or three now. I guess that's improvement.
• 1:06:37
  But again, I keep saying the same thing.
• 1:06:40
  We've we've been seeing this get kicked down or delayed time
• 1:06:45
  after time after time. We were supposed to have it end
• 1:06:47
  of last year and then January, February, March, April.
• 1:06:51
  Now we're starting to hear like maybe May.
• 1:06:54
  So look in terms of it passing like quickly might not happen.
• 1:07:00
  In terms of it actually passing, obviously those odds are going
• 1:07:04
  down. I think if it doesn't happen, I
• 1:07:07
  guess in the latest self-imposed deadline in May, it's like it's
• 1:07:11
  probably not a good luck because the midterms will start to ramp
• 1:07:14
  up and take all the attention. Though my biggest part with this
• 1:07:19
  wasn't so much it passing per SE, but from the, I think it was
• 1:07:26
  chief investment offer, chief policy officer at Coinbase.
• 1:07:29
  I don't know guys, it kind of sounded like a lot of shit
• 1:07:32
  coinery there. It's kind of what I've been
• 1:07:33
  saying for a while. You know, Wall Street shit coin
• 1:07:36
  phase is going to be crazy because he, he verbatim said
• 1:07:40
  Wall Street is very excited about tokenization and stable
• 1:07:44
  coins being the future. And in that statement itself,
• 1:07:48
  I'm like, no, like it's Bitcoin all right.
• 1:07:50
  Wall Street shit coin phase is going to be insane.
• 1:07:53
  This tokenization, all the things, you know, everything on
• 1:07:56
  the blockchain, it's probably going to be a huge disaster.
• 1:07:59
  And then that's probably why this Clarity Act has been held
• 1:08:02
  up for so long. Because what we are seeing, what
• 1:08:05
  hasn't really been talked about much is that there is a huge
• 1:08:09
  lobbying effort to end the Clarity Act at large.
• 1:08:12
  So like we are seeing a lobbying war play out currently in
• 1:08:16
  regards to the banking industry and the Bitcoin quote crypto
• 1:08:21
  industry. And as we've been covering, we
• 1:08:25
  really don't have the pool yet in in DC like we yeah, we're a
• 1:08:28
  growing industry. Our influence is growing.
• 1:08:32
  We obviously had AI would say significant effect on the last
• 1:08:36
  election. But as of now we are still a
• 1:08:40
  very young industry in terms of like the banking lobbying, just
• 1:08:46
  size. And so we really don't have the
• 1:08:48
  pool yet. But look, I know it's a
• 1:08:50
  politician's job to be extremely bullish about, you know, what
• 1:08:53
  they're doing and and that's kind of their job.
• 1:08:55
  So hey, we'll see what happens if it passes and it actually is
• 1:08:59
  a benefit to our industry and it does what Frank Holmes says once
• 1:09:02
  it passes where it freaking getting pumped.
• 1:09:04
  Like I'm all for that, obviously, like I I just want
• 1:09:08
  them to pump our bags at this point.
• 1:09:10
  But in terms of it actually playing out, there is a ticking
• 1:09:14
  clock right now. And if it doesn't happen sooner
• 1:09:16
  than, as Senator Lumm has said, it's probably not going to
• 1:09:19
  happen for a few years. So they really do want to get
• 1:09:22
  this pushed through. Like it basically has to happen
• 1:09:25
  now. So we'll see what happens.
• 1:09:27
  Ken, quick thoughts before we move on to next segment.
• 1:09:32
  I don't think it matters. That's my quick thought.
• 1:09:34
  I don't think it matters in the scheme of things because
• 1:09:36
  Bitcoin's going to win. And and the reason why it
• 1:09:39
  doesn't matter in the scheme of things is because Bitcoin's
• 1:09:44
  adoption is going to take the path it takes regardless of how
• 1:09:48
  politicians influence the market, right?
• 1:09:51
  Because the market's going to wake up the absolute scarcity,
• 1:09:53
  right? If we look back two weeks ago, I
• 1:09:56
  ran accepting tolls for oil tankers passing through the
• 1:10:01
  streets of Hormuz. Who is?
• 1:10:03
  How was that on anybody's adoption path?
• 1:10:06
  Right, But was there ever any better marketing on a global
• 1:10:09
  scale than Iran taking Bitcoin and proving to the world that it
• 1:10:13
  was unsensible and the strongest military in the world couldn't
• 1:10:18
  stop them? No, that that's best marketing
• 1:10:21
  ever. People are going to adopt this
• 1:10:22
  regardless. So I see if the US politicians
• 1:10:25
  fail to push through the Clarity Act, which I do think is a
• 1:10:28
  positive for Bitcoins price action, it's going to lead to
• 1:10:31
  other people in other parts of the planet adopting Bitcoin and
• 1:10:35
  saying, hey, the US isn't going to pick up the ball and run with
• 1:10:37
  it. Then we're going to run with it
• 1:10:39
  over here. And so some other place is going
• 1:10:41
  to have mass adoption and we'll take the benefit themselves.
• 1:10:44
  I mean, we are dealing with a decentralized protocol that does
• 1:10:47
  not have a lock on the US market, right?
• 1:10:50
  It's it is going to break down the exclusivity of the US
• 1:10:54
  market, in my opinion. So whether this happens in the
• 1:10:57
  US, it would be to the advantage of the US and American citizens
• 1:11:00
  and myself and you guys on the call.
• 1:11:02
  But if it doesn't happen in the US, it's going to help them
• 1:11:05
  someplace else because that is how Bitcoin adoption occurs.
• 1:11:08
  It doesn't care. It's the honey badger and it's
• 1:11:11
  going to be adopted because it's absolutely scarce.
• 1:11:13
  So, you know, at the end of the day, I'd love it to pass to pump
• 1:11:16
  the market sooner. Great number go up, but it
• 1:11:19
  doesn't matter. The number is going to go up.
• 1:11:21
  And frankly, what we've been just talking about most of the
• 1:11:24
  show, which is Michael Saylor and his strategy.
• 1:11:27
  Does the clarity Act act actually impact his his strategy
• 1:11:30
  in a negative way if it doesn't go through?
• 1:11:32
  I mean, look at what he's done without it.
• 1:11:35
  I don't see how that doesn't continue.
• 1:11:36
  So I, I think it's great for the market, but I just don't think
• 1:11:40
  it matters. Yeah, listen, that's cool.
• 1:11:43
  Motherfucking butt So. Yeah, I love that song.
• 1:11:50
  So 100% agree. And and this is what Trump's
• 1:11:54
  case for, he's like, listen, like the reason his argument is
• 1:11:59
  basically look like if we don't do it, another country will.
• 1:12:02
  And I'm really glad that you brought up the example of the
• 1:12:05
  Strait of Hormuz because that's exactly what we saw, right?
• 1:12:09
  We literally saw a country that again, has been sanctioned.
• 1:12:12
  They don't even trust their own currency.
• 1:12:13
  And they're like, ah, pay some Bitcoin.
• 1:12:15
  We know it won't be censored, right?
• 1:12:16
  So this Bitcoin adoption is going to happen, you know, by
• 1:12:20
  nation states around the world and it's really up to the United
• 1:12:24
  States. Like I went to a conference in
• 1:12:26
  El Salvador in the beginning of the year and I saw a talk by
• 1:12:31
  actually got to introduce him because I was emceeing the stage
• 1:12:34
  and I saw a talk by the head of the regulatory body for digital
• 1:12:39
  assets in El Salvador. And the guy was wearing a
• 1:12:43
  Bitcoin tie, right? And they're so far ahead with
• 1:12:47
  their legislation than the United States, which again, the
• 1:12:50
  United States is supposed to be like, you know, the pinnacle of
• 1:12:54
  world capitalism. And you have El Salvador that is
• 1:12:58
  leading, right? This is all it's Bitcoin
• 1:13:01
  country, right? So yeah, IIA 100% agree with
• 1:13:05
  with your take cat. Not only does it not matter, the
• 1:13:07
  United States is playing with fire, the regulators are playing
• 1:13:10
  with fire because again, if you create a, a, a hostile
• 1:13:13
  regulatory environment, the United States people are just
• 1:13:16
  going to go somewhere else, right?
• 1:13:17
  And then those countries are going to benefit and, and their
• 1:13:20
  governments are going to benefit from the additional tax revenue,
• 1:13:23
  right? So the game theory starts to
• 1:13:24
  come into, into play here, right?
• 1:13:27
  So I think the Trump administration realizes that and
• 1:13:30
  apparently the rest of the, the rest of the legislation doesn't
• 1:13:33
  believe that. And I think the, the rest of the
• 1:13:34
  legislation like they're hell bent on this idea that the
• 1:13:37
  future of money is central bank digital currencies.
• 1:13:39
  I think part of the big motivation as to why these pass
• 1:13:43
  and why this pieces of legislation haven't been pushed
• 1:13:45
  forward is because I think fundamentally there's a big part
• 1:13:49
  of the American government that believe that the future of money
• 1:13:52
  is CBD CS. And I think that it, it's, it's
• 1:13:56
  a, it's going to be a, it's going to be a hard pill for them
• 1:13:58
  to swallow for them to realize that look, I think if people are
• 1:14:02
  gonna have a, listen, you can't make Bitcoin go away.
• 1:14:06
  And I think if people have a choice between something that is
• 1:14:09
  censorship resistant and absolutely scarce versus
• 1:14:11
  something that can be debased and can be censored, I think
• 1:14:14
  inevitably over time, people are going to choose the better
• 1:14:17
  money, right? So anyways.
• 1:14:19
  Guys, you have a lot of faith in people.
• 1:14:21
  We're gonna be talking. We're gonna.
• 1:14:24
  Be talking about wild SAS, SAS mining and we got the CEO Kent
• 1:14:29
  in the house. We're going to be right back
• 1:14:31
  after the break. I want to give a shout out to
• 1:14:34
  our partner Hive digital technologies.
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  sustainable digital infrastructure.
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• 1:16:13
  We. Are back and we got Kent.
• 1:16:15
  Kent welcome SAS mining, Bitcoin mining as a service.
• 1:16:19
  How you doing Kent? How are you feeling today?
• 1:16:22
  I'm feeling, I'm feeling. How are you, Nico?
• 1:16:25
  I love it. I love it, man.
• 1:16:27
  So we I've been. Wait, wait, can I put contacts
• 1:16:29
  here? Kent's been with me and Nico's
• 1:16:32
  been ditching Kent and we brought Kent on because Nico
• 1:16:35
  felt bad. Why do you?
• 1:16:38
  Say that. Why do you say I've been
• 1:16:38
  ditching Kent like it's like it that that makes it seem like
• 1:16:42
  I'm. Doing this on purpose.
• 1:16:43
  I know we've been just trolling you, me and me and him behind
• 1:16:46
  the scenes have been trolling you.
• 1:16:47
  It's like, hey, dude, I'm sorry Kent, you're stuck with me
• 1:16:49
  today. Nico's got some plants and we're
• 1:16:51
  just like, dude, it's like he doesn't like you anymore, Kent,
• 1:16:54
  what's going on here? And then Nico, literally like,
• 1:16:57
  all right, Kent, I'm going to get you on.
• 1:16:58
  I'm going to be on the show. I think, and one of the best
• 1:17:01
  shows we've had in a while. It's true.
• 1:17:03
  It's true. And I, I, I, I think, I think
• 1:17:07
  Kent smells incredible. I'm going to pause, OK, That
• 1:17:11
  it's an inside joke. It's an inside.
• 1:17:14
  Joke, you should have kept that one to yourself.
• 1:17:15
  But anyway, anyways keep it going.
• 1:17:17
  Are you not entertained? I I mean, maybe some people are.
• 1:17:23
  Anyways Ken how you doing bro? I'm doing good man.
• 1:17:28
  Let's talk about. Good, I'm doing good.
• 1:17:30
  I had I did have fun trolling trolling you with Opti, though.
• 1:17:33
  And I, I, I just just to bring the audience in.
• 1:17:37
  I accused, accused Nico of, of thinking I smelled bad is why he
• 1:17:41
  hasn't been on with me four times in a row.
• 1:17:44
  I should admit Opti and I Opti and I have really bonded, you
• 1:17:48
  know, so we're, we're we're doing well on Nico.
• 1:17:50
  I'm I'm glad that the, the the guilt to another, another,
• 1:17:53
  another, you know, showing here, But you know, it's, it's good to
• 1:17:57
  have you here, bro. I'm I'm kind of jealous.
• 1:17:59
  I'm kind of jealous man, that you guys bonding on air without
• 1:18:02
  me, OK? Pause.
• 1:18:03
  All right. What is happening?
• 1:18:05
  What is happening anyways? Let's talk about SAS, ladies and
• 1:18:08
  gentlemen, Mine Bitcoin. Own your rigs.
• 1:18:11
  Ditch the exchanges. That's right, ladies and
• 1:18:14
  gentlemen, there's other ways to acquire Bitcoin than just buying
• 1:18:19
  it. You know what the other way is?
• 1:18:20
  You know what? The original way of buying of of
• 1:18:23
  acquiring Bitcoin was the only way was to mine it, right?
• 1:18:29
  And I think a lot of people have have forgot the roots.
• 1:18:32
  So Kent, you built this amazing platform that makes it
• 1:18:36
  incredibly easy for anyone who's not, you know, technical to
• 1:18:40
  essentially start mining today, right?
• 1:18:43
  You buy, buy the rigs, there's no additional fees.
• 1:18:48
  And within, you know, a 24 hours, 48 hours, those those
• 1:18:52
  rigs are up and running. You have this amazing dashboard.
• 1:18:55
  You can see how much Bitcoin is actively being mined.
• 1:18:59
  Kent, talk to me, man, because I think people initially they
• 1:19:04
  they, they see mining as this daunting task, as this thing
• 1:19:07
  that's very, very complicated. You guys have made this
• 1:19:11
  incredibly easy through this fantastic.
• 1:19:14
  You got UI that you guys built. I remember the way that you
• 1:19:17
  described it to me the other days as you guys were
• 1:19:20
  essentially were a technology company.
• 1:19:22
  It was a technology company and then you know, you integrated
• 1:19:27
  the the Bitcoin mining as a service.
• 1:19:30
  So talk to us man, the floor is yours.
• 1:19:34
  Well, here's the thing I want to go back to what we talked about
• 1:19:36
  earlier, right? The, the, the alpha and Omega
• 1:19:39
  candle, the 100K candle, there is going to come a point in time
• 1:19:42
  and I hope it goes slow, right? I, I don't want it to be all at
• 1:19:46
  once, but there's going to come a point in time where you can't
• 1:19:48
  buy your Bitcoin. You're going to have to earn it.
• 1:19:50
  Guess what, There needs to be a way for people to earn their
• 1:19:53
  Bitcoin. And the way that Satoshi
• 1:19:55
  designed the network was to mine the Bitcoin.
• 1:19:58
  And if you go back to early Bitcoin history, the 2009 to
• 1:20:01
  2013 era, everybody that acquired their Bitcoin then was
• 1:20:06
  mining it. There really wasn't.
• 1:20:07
  It really wasn't until Coinbase opened their doors, which
• 1:20:10
  happened to be the same year that the Bitcoin 8 mining ASIC
• 1:20:13
  came out, that people shifted from mining to buying their
• 1:20:16
  Bitcoins. So it's not in our DNA from the
• 1:20:20
  very beginning to buy, but to mine.
• 1:20:23
  And there's going to come a point in time where you can't
• 1:20:25
  buy, you're going to have to earn.
• 1:20:27
  So guess what? This this period.
• 1:20:29
  That we're in right now I think this is the Goldilocks period
• 1:20:32
  that we're living through right where our our grandkids are
• 1:20:35
  going to come up to us and be like, hey grandpa, like you
• 1:20:38
  could buy Bitcoin like how crazy is that?
• 1:20:40
  And here we are as as mining we're just like no, this that
• 1:20:43
  phase is going to end. We're building the on ramp for
• 1:20:46
  the earned phase of the Bitcoin adoption process.
• 1:20:49
  And So what we've done as a tech company has built that platform
• 1:20:54
  couple clicks by mining rig. You know, we've got some mining
• 1:20:57
  rigs deploying in two days in Paraguay.
• 1:21:00
  So if you want to be deployed in two days, great, we'll get your
• 1:21:03
  wild sats flowing and then you're getting sats streamed to
• 1:21:05
  you right off the network directly into your wallet.
• 1:21:08
  We never touch your Bitcoin. And the only way we make money
• 1:21:11
  is if we produce Bitcoin for you.
• 1:21:13
  So you have to pay for the hardware, you have to pay for
• 1:21:15
  the electricity. But we don't put profit on any
• 1:21:18
  of that. What we do is instead split 15%
• 1:21:21
  of the Bitcoin off the back end and tell the mining pool, hey,
• 1:21:24
  look, you got to send that to our wallet, 85% to our client's
• 1:21:28
  wallet. All our clients do is they give
• 1:21:30
  us a Bitcoin address and the Bitcoin goes there and we
• 1:21:33
  communicate through our, our platform with our clients.
• 1:21:36
  We've got monthly town halls. I've seen a couple questions
• 1:21:39
  about that. So if you're a client and only
• 1:21:42
  if you're a client, I, I give a presentation once a month, tell
• 1:21:46
  everybody what's going on in our various data centers where we're
• 1:21:48
  in Norway, we're in the US, we're in Paraguay and give
• 1:21:53
  everybody updates, what's going on, what we're building, how our
• 1:21:56
  software's improving going to improve their experience.
• 1:21:58
  So if you're a client and on the on the the stream here, no,
• 1:22:03
  Friday is when it's coming up. And if you want to get wild
• 1:22:07
  sats, they are better sats would argue than purchasing them
• 1:22:11
  through the banking surveillance state, right, where you go buy
• 1:22:15
  them off an exchange because a you you're getting wild and hot
• 1:22:19
  just in the same way if you go forward your own food, it's
• 1:22:22
  usually better for you. Wild stats I think of are better
• 1:22:26
  for you as well because they're yours, they're outside of that
• 1:22:29
  system. And usually they are on a
• 1:22:32
  monthly basis acquired at a lower cost than what you can buy
• 1:22:35
  them for. So we call that energy cost,
• 1:22:37
  average position, the monthly energy cost versus electricity
• 1:22:43
  is lower than what you buy them for.
• 1:22:45
  So your dollar is going further in terms of how many stats
• 1:22:47
  you're stacking. That does not include the cost
• 1:22:50
  of the hardware which we typically see especially in bear
• 1:22:52
  market conditions, A1 to two year justification period for
• 1:22:56
  the hardware. So the numbers look good and
• 1:23:00
  they look good. If you believe that Bitcoins
• 1:23:03
  price is going up. If you don't believe Bitcoins
• 1:23:05
  price is going up, then by all means don't get into mining.
• 1:23:07
  But if you believe Bitcoins price is going up, you have a
• 1:23:10
  four year mindset. I'm going to, I'm going to
• 1:23:12
  acquire Bitcoin and I'm going to sit on it for at least four
• 1:23:15
  years. Bitcoin mining is a wonderful
• 1:23:17
  opportunity and nobody has made it easier.
• 1:23:19
  Go check out our Trustpilot scores and you can see how we
• 1:23:24
  are doing things different than anybody else.
• 1:23:26
  So nobody's been a tech company that's come to the mining space
• 1:23:30
  to apply that technology first approach and nobody has taken a
• 1:23:34
  hey, we're only going to make money if we produce Bitcoin for
• 1:23:37
  our customer. I, I, I, I got this very
• 1:23:40
  interesting comment. Kent, thank you for the Super
• 1:23:43
  chat. Bitcoin Capital, Thank you for
• 1:23:45
  the $2.00 SAS mining proof of hash versus rental paper hash.
• 1:23:49
  What are your thoughts on that? Oh, I yeah, I saw that question
• 1:23:54
  coming up too, so I don't. People are paying a premium for
• 1:24:02
  rented hash rate these days. It's a new, it's a new
• 1:24:05
  opportunity. I don't see how it's different
• 1:24:08
  than cloud mining, which sort of had a bad reputation a few years
• 1:24:11
  ago. Cloud mining as an idea makes
• 1:24:14
  sense, but there's trust issues with where the hash rate comes
• 1:24:18
  from. So hopefully that doesn't repeat
• 1:24:21
  here with the rental hash rate market.
• 1:24:23
  But what you're, I, what you're doing is you're basically
• 1:24:26
  saying, hey, it's somebody else's mining rig.
• 1:24:29
  You point the I want to rent the hash rate from that mining rig.
• 1:24:33
  And it's a way that the, the person that owns the mining rig
• 1:24:36
  can get a premium on the Bitcoin And it's a way for the purchaser
• 1:24:41
  on the other end to not have to deal with the messiness of
• 1:24:45
  mining, which I think largely we've solved for people.
• 1:24:48
  So I'm curious to see actually how SaaS mining competes with
• 1:24:51
  this. The main difference is that the
• 1:24:53
  time period can be much shorter. Now to your point, is this
• 1:24:57
  really mining? I don't think so, although you
• 1:25:01
  do have freedom to direct that hatch rate to signal for
• 1:25:04
  different things in ways that maybe you couldn't with us until
• 1:25:08
  we deliver features. So there is a little bit more
• 1:25:10
  freedom there that you've got, but I think largely it's going
• 1:25:14
  to be a a small blip in the overall mining movement here
• 1:25:19
  because the problem, the number one problem that an individual
• 1:25:23
  has with mining is low energy costs.
• 1:25:26
  And unless you can find low cost energy, it's just not cost
• 1:25:29
  effective to mine Bitcoin. And that's basically what we
• 1:25:32
  built our business around is going out and finding those low
• 1:25:35
  cost energy opportunities with great data center operators and
• 1:25:40
  then packaging that all up so that it's simple for an end
• 1:25:43
  consumer to be able to acquire Bitcoin through mining through
• 1:25:47
  a, a user experience and platform that we've developed.
• 1:25:50
  So yeah, I, I'm curious to see where that market goes, but I
• 1:25:53
  don't think of it as a miner. I would call that, you know, to
• 1:25:57
  use Bob Burnett's words like a hasher.
• 1:25:59
  If you're doing that, unless you're creating your own BLOB
• 1:26:01
  block templates, I don't think you're really mining.
• 1:26:05
  I think you're you're enjoying the fruits of of hash rate.
• 1:26:09
  Absolutely, 100%. And another thing that I love
• 1:26:13
  about you guys can't that really kind of differentiates yourself
• 1:26:17
  is the fact that unless those machines are actively hashing,
• 1:26:22
  you guys don't make money, right?
• 1:26:25
  And I'm a big believer in aligned incentives.
• 1:26:28
  I think that's so important. If you have an aligned incentive
• 1:26:32
  structure, then you're not going to have bad actors because
• 1:26:36
  essentially Kent's company size is incentivized to keep those
• 1:26:42
  miners up and running, because if they're not up and running,
• 1:26:46
  they're not making money, right? So again, there's different
• 1:26:50
  models, there's different formulas to how the that
• 1:26:54
  specific part of the market functions that specific
• 1:26:57
  industry. But I love the aligned
• 1:27:01
  incentives. I think it's incredibly,
• 1:27:02
  incredibly important because it creates a win, win situation
• 1:27:06
  versus a we win no matter what, you know, and you're essentially
• 1:27:12
  at the mercy of that said provider.
• 1:27:14
  So I really, really like that as well.
• 1:27:17
  We got a interesting a question I, I don't know if you can
• 1:27:21
  answer this Kent, but someone says how is the movement of the
• 1:27:25
  of the Paraguay government shift in stance affecting size mining.
• 1:27:28
  From my understand, the Paraguayan government has had a
• 1:27:31
  very, very open they've been extremely friendly towards
• 1:27:36
  minors. Yeah, there was, there was a
• 1:27:40
  recent bill that that that person may be asking about that
• 1:27:43
  asked for people that are residents of Paraguay to reveal
• 1:27:48
  their digital assets. There's a pretty invasive
• 1:27:52
  request from the local tax authority there.
• 1:27:56
  It doesn't impact us. We are not a local registered
• 1:28:02
  tax resident as a business there and so we don't have any direct
• 1:28:06
  impact and the only people impacted our local residents.
• 1:28:09
  And what I am told, and this is not advice, but what I'm told is
• 1:28:13
  the general stance given the honeypot nature of exposing that
• 1:28:17
  information to the government. Most people that do have digital
• 1:28:21
  assets plan to ignore the request because they're worried
• 1:28:25
  about their physical safety. So I don't know how that's going
• 1:28:29
  to play out. It seems to have been a fairly
• 1:28:32
  I'll thought out program that they're doing.
• 1:28:34
  What's been more interesting and exciting to see is, you know, a
• 1:28:38
  couple years ago, in the last two years, I would say Paraguay
• 1:28:43
  went through and really clamped down on illegal Bitcoin mining.
• 1:28:46
  And it was interesting because watching on Twitter, you would
• 1:28:49
  think that the the people were defending the right for people
• 1:28:53
  to steal electricity. But that's literally what was
• 1:28:56
  going on in Paraguay. And it may just not have been
• 1:28:58
  understood that they were. People can literally steal
• 1:29:00
  electricity. You know, they go out there to
• 1:29:02
  the electric lines and basically throw jumper cables on them and
• 1:29:05
  grab electricity from the lines and in an unmetered way, power
• 1:29:08
  mining rigs. But that was going on at scale
• 1:29:11
  in Paraguay. The Paraguayan government
• 1:29:13
  cracked down on it. I mean, we're talking hundreds
• 1:29:16
  of megawatts worth of this activity going on.
• 1:29:18
  And they cracked down on it. And they took a lot of the
• 1:29:21
  mining rigs from that. And now they're looking to
• 1:29:24
  deploy them into production to generate Bitcoin for the
• 1:29:27
  Paraguayan government. So to your point about aligned
• 1:29:29
  incentives, to me that's a wonderful thing for us as a
• 1:29:32
  miner in Paraguay is that now we've got the same interests
• 1:29:36
  that our, that the government does there.
• 1:29:38
  They're mining Bitcoin alongside of us, not literally, but like
• 1:29:41
  in the same country, in the same region.
• 1:29:43
  So I actually think that that brings things together and leads
• 1:29:47
  to better, better governance over the mining industry in
• 1:29:51
  Paraguay. So I'm extremely bullish on
• 1:29:53
  Paraguay. And it is one of the top regions
• 1:29:55
  with excess hydropower in the world.
• 1:29:56
  So clean excess electricity, the repatriating power.
• 1:30:00
  I mean, we have some capacity still left there, but it's I
• 1:30:04
  think a long term very viable mining district as a result.
• 1:30:08
  I love it and yeah, absolutely bullish on Paraguay.
• 1:30:12
  I had the privilege to be able to go visit Itapu dam and and so
• 1:30:16
  much excess hydroelectric power that again could be turned into
• 1:30:22
  wild SAS. So guys go to sasmining.com.
• 1:30:27
  Their service is great and also their support is great, right?
• 1:30:31
  So if you guys have, if any questions you jump into support,
• 1:30:34
  they'll be more than happy to answer any questions you might
• 1:30:37
  have, go to sasmining.com here at Simply Bitcoin.
• 1:30:41
  We highly recommend them. It's a great alternative way to
• 1:30:46
  build your Bitcoin stack without having to buy it right and
• 1:30:49
  getting getting those sweet, sweet wild stats.
• 1:30:52
  Anyways, I do want to give one final shout out to a sponsor of
• 1:30:57
  Simply Bitcoin, the Bitcoin conference that's coming up next
• 1:31:01
  week. Ladies and gentlemen, be in Las
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  Kent will be there as well. You guys don't want to miss the
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  biggest Bitcoin celebration of the year.
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  I'm going to be on stage. Kent is going to be on stage.
• 1:31:14
  It's going to be fantastic. Your favorite Bitcoiners are
• 1:31:16
  going to be there. Michael Saylor.
• 1:31:18
  We have the head of the SEC, we have the head of the CFTC.
• 1:31:21
  We have Eric Trump. We have Afroman who's going to
• 1:31:24
  be making a keynote appearance and talk.
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  So if you guys want to go to the Bitcoin conference, Bitcoin
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  It's not a hyperbolic statement. It's April 27th through the 29th
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  in Las Vegas, NV Bitcoin 2026 Scan the QR code on your screen
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  and we'll see you guys in Vegas. All right, everybody take care.
• 1:31:52
  Smash the like button, consider subscribing, and we'll see you
• 1:31:55
  on the next episode of Simply Bitcoin Live.
• 1:31:59
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• 1:32:02
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