Latest / Simply Bitcoin / RECESSION CONFIRMED | $30B Tech Giant Says Bitcoin CRASH Incoming?! | Simply Originals

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RECESSION CONFIRMED | $30B Tech Giant Says Bitcoin CRASH Incoming?! | Simply Originals · Simply Bitcoin

• 0:00
  Well, I hope you enjoyed October because moon November might
• 0:04
  start with a meltdown. Bitcoin just had its first red
• 0:07
  October since 2018, down 3.69%, the third worst October in
• 0:13
  history. And we saw 400 million in
• 0:15
  liquidations. The Powell hangover nobody saw
• 0:18
  coming and the Treasury Secretary Scott Besson just
• 0:21
  confirmed that we might be in a recession heater deal, possibly
• 0:25
  the Antichrist. Well, he says Bitcoin is cooked.
• 0:28
  Oh yeah, of course. He's sitting with working.
• 0:30
  Well, we have breaking news. It's not Bitcoin that's cooked.
• 0:33
  It's the Fed. And the bull market hasn't even
• 0:36
  begun. That's right.
• 0:42
  This week, the Fed voted to lower interest rates.
• 0:44
  Another. Quarter of a point.
• 0:46
  To its lowest level in three years.
• 0:47
  However, the central bank's newest official, Stephen Myron
• 0:50
  is is warning that the Fed doesn't continue to lower
• 0:53
  interest rates rapidly. The US could face a recession.
• 0:57
  Do you agree that the US is at risk of?
• 0:58
  Facing a recession, I, I, I believe that we are in a
• 1:02
  transition period here as we are seeing the Trump administration
• 1:08
  has cut back on government spending.
• 1:10
  Jake, what has gone unnoticed, the shutdown, is that for the
• 1:15
  fiscal year that in September 30th, the government spent less
• 1:19
  than it did the year before. And because the GDP grew, the
• 1:23
  GDP which had been 6.4, the deficit to GDP which had been
• 1:27
  6.46 point 5% deficit, the highest when we weren't at war,
• 1:32
  weren't in a recession ever, we were able to bring it down to
• 1:35
  5.9%. So we are bringing down
• 1:39
  government spending and I would think that Fed would want to
• 1:44
  assist with that because if we go back and look, MIT just
• 1:48
  published the study that said 42% of the great inflation of
• 1:52
  2022 came from excess government spending.
• 1:55
  So if we are contracting spending, then I would think
• 1:59
  inflation will be dropping. The inflation is dropping, then
• 2:02
  the Fed should be cutting rates. But do you think that the US is
• 2:05
  at risk of a recession if the Fed.
• 2:06
  Does not continue to. Drop rates, I, I think that we
• 2:10
  are in good shape, but I think that there are sectors of the
• 2:16
  economy that are in recession and the Fed has caused a lot of
• 2:20
  distributional problems there with their policies.
• 2:24
  I wrote a 7000 word essay on that.
• 2:27
  You know, we've seen that the biggest hindrance for housing
• 2:30
  here that are mortgage rates. So, you know, if the Fed brings
• 2:36
  down mortgage rates, then they can end this housing recession.
• 2:39
  Low end consumers who have gotten killed under President
• 2:43
  Biden, they these high rates are hurting them because they have
• 2:47
  debt, not assets. So I think that there are
• 2:51
  sections of the economy that could go into recession, all
• 2:55
  right. When the Treasury Secretary
• 2:57
  admits it, you know, it's kind of official.
• 2:59
  Scott Besson says there are sectors of the economy that are
• 3:02
  in and some that could go into recession.
• 3:05
  Well, no kidding, because 88% of Americans already live in states
• 3:09
  that are in economic decline. That has never happened outside
• 3:14
  of a technical recession, ever. the US housing market frozen
• 3:18
  solid. Only 2.8% of homes changed hands
• 3:21
  this year. That's the lowest in three
• 3:24
  decades, people. They're locked into 3%
• 3:26
  mortgages, nobody selling, buyers can't afford it, and the
• 3:29
  market's just dead. Banks sitting on 395 billion in
• 3:35
  unrealized losses. Vehicle repossessions, highest
• 3:39
  since 2009. the Fed didn't land the plane, they landed a
• 3:42
  dumpster fire. But while the bureaucrats cry
• 3:45
  recession, the real game is shifting because the orange man,
• 3:49
  Donald Trump just said something that flipped the entire bearish
• 3:52
  narratives on their heads. Well, at least when it comes to
• 3:55
  Bitcoin, here we go. I only care about one thing.
• 3:59
  Will crypto be, will we be #1 in crypto, crypto has turned out
• 4:03
  and in that sense, I've been right.
• 4:05
  Cryptos turned out to be a massive industry, if you want to
• 4:08
  call it that. And I'm very proud to say that
• 4:11
  we are far and away ahead of China and everybody else.
• 4:13
  Now. China's getting into it very big
• 4:16
  right now. If you want to go after people,
• 4:19
  you're going to kill that industry and it'll be very bad.
• 4:22
  Tremendous number of jobs. I campaigned positively on
• 4:27
  crypto very openly. I campaigned, Biden campaigned
• 4:30
  against it. When Biden found out that I was
• 4:33
  getting like 100% of the crypto vote, which was a lot, he
• 4:36
  switched totally and he went in favor of crypto.
• 4:39
  They went totally in favor. They had many people under
• 4:43
  indictment. They let them all go.
• 4:45
  They let them all go. You know that many people were
• 4:47
  under indictment. Biden was a corrupt president.
• 4:51
  Biden went all in on crypto at the very end because he thought
• 4:55
  he could get some votes. It didn't work.
• 4:56
  They voted for me. I want to make crypto great for
• 5:00
  America. That's the only thing.
• 5:01
  I don't want to have somebody else have crypto and have China
• 5:06
  be #1 in the world in crypto. Because in crypto, it's a kind
• 5:09
  of an industry where basically you're going to have #1 and
• 5:12
  you're not going to have a number 2.
• 5:14
  And right now we're number one by a long shot.
• 5:16
  I want to keep it that way. The same way we're number one
• 5:19
  with AI, we're number one with crypto.
• 5:21
  I don't want to keep it that way.
• 5:22
  Bitcoin, not crypto, but Trump's not talking means he's talking
• 5:26
  monetary power. China's getting big into
• 5:28
  Bitcoin, and Trump just said it out loud.
• 5:30
  We have to keep America #1 translation.
• 5:33
  The world's two biggest economies are racing to
• 5:36
  accumulate the hardest money ever invented.
• 5:38
  This isn't just about price. It's national security game
• 5:42
  theory playing out real time. The dollar system just lit a
• 5:45
  giant red warning light on Halloween.
• 5:47
  The Fed's overnight repo facility exploded 29.4 billion
• 5:52
  in emergency loans overnight, the biggest spike since the 2020
• 5:56
  crisis. And the standing repo facility
• 5:59
  quietly tapped for a record 50.3 billion.
• 6:02
  That's roughly an $80 billion cry for help from inside the
• 6:06
  plumbing of the dollar system. Here's a breakdown of what's
• 6:09
  going on under the hood in the repo market.
• 6:11
  People miss this when the government shutdown started.
• 6:15
  Right now what we're seeing happening is basically the
• 6:19
  government's or the Treasuries Treasury general account, this
• 6:23
  is their checking account where they pay bills out, has now
• 6:27
  risen to over $1 trillion. That's unusual.
• 6:30
  Why is that unusual? Well, think of it this way.
• 6:33
  When we pay taxes or sales taxes come into the federal
• 6:37
  government, they go into this TGA account.
• 6:40
  Well, money then is, you know, checks are written, people are
• 6:44
  paid all that and that money flows out to the system and pays
• 6:51
  bills. Well, they're not paying bills
• 6:53
  right now. So that account balance is
• 6:55
  skyrocketing. It's going higher, over a
• 6:58
  trillion dollars. Now, it's usually not that high,
• 7:01
  but what that means is that money is being pulled out of
• 7:04
  bank accounts and the banking system, creating a tightening or
• 7:09
  a squeeze on the financial system.
• 7:12
  This is the underlying plumbing that we're that makes money
• 7:17
  movement and liquidity move around.
• 7:19
  So as long as this government shutdown continues, expect banks
• 7:25
  to be going to the overnight the repo window every night and
• 7:30
  collecting borrowing money. They they pledge treasuries or
• 7:34
  CMOS clarize mortgage obligations in exchange for
• 7:37
  cash. Well, as this cash liquidity
• 7:41
  shrinks or the, the liquidity tightens, expect that it's going
• 7:46
  to get straining. Basically the banking system.
• 7:50
  This is, this is a big deal. This isn't headlines.
• 7:54
  You know, the stock market isn't going to be driven by headline
• 7:56
  news. It's driven by liquidity.
• 7:59
  And this is an example of when liquidity gets interrupted in
• 8:03
  the overall economy, the US economy or or global economy
• 8:07
  markets contract. And this is where going into
• 8:10
  next week, I'm concerned as long as this government shutdown
• 8:14
  continues, as long as 670,000 U.S. government workers don't
• 8:20
  get a paycheck. And if it were to continue to,
• 8:24
  what, December 1st, that's a, what, 21 billion or so dollar
• 8:30
  plus amount of money that's not going into the system.
• 8:34
  That means credit cards aren't being paid.
• 8:36
  That means mortgages aren't getting paid.
• 8:38
  That means loans aren't getting paid, car loans are getting
• 8:41
  paid. And it always starts in
• 8:43
  subprime. And we're already seeing that
• 8:45
  effect. So as long as this government
• 8:48
  shutdown, along with just the tightening of spending
• 8:52
  continues, chances are we're going to see this liquidity
• 8:56
  squeeze get tighter and tighter. And banks are going to be
• 8:59
  borrowing more money or pledging more securities, treasuries,
• 9:02
  CMOS to the Fed overnight window so they can meet their
• 9:06
  obligations at some point. There's a breaking point in
• 9:10
  everything. And that is my concern as we go
• 9:13
  into this week and the following weeks, that the equity market,
• 9:18
  the liquidity in the equity market gets squeezed.
• 9:21
  And if it gets squeezed more and more, chances are this market is
• 9:25
  going to come down a substantial amount, maybe just 10 or 15%.
• 9:31
  But this is something you have to keep an eye on.
• 9:36
  And that's why you need to check out Best of US Investors.
• 9:40
  Check out our 14 day free trial where we talked about this
• 9:43
  stuff. We've been talking about this
• 9:45
  since the whole shutdown started in about the liquidity squeeze
• 9:49
  that is starting to happen. Be an informed and aware
• 9:53
  investor. CNBC will lead you down a very
• 9:57
  scary path, so be careful. Whatever you do today, enjoy
• 10:01
  your day as I am trying to do and always, always live loud.
• 10:06
  Peace. Exactly, collateral stress.
• 10:09
  Banks are starving for liquidity.
• 10:11
  Every time repo and SRF light up together, it means one thing.
• 10:15
  The feds quietly bailing out the system.
• 10:17
  It's stealth QE and Bitcoins held above 100K for 176 straight
• 10:22
  days. ETF's absorbed 3.7 X this year's
• 10:26
  new supply. Exchange reserves still hovering
• 10:30
  near 7 year lows. The float that fuels panic
• 10:33
  crashes is gone. You're watching the same
• 10:35
  liquidity that broke the system now feed the next Bitcoin rally.
• 10:40
  All right, so here's where it gets biblical.
• 10:42
  Peter Thiel, billionaire investor, PayPal founder.
• 10:45
  Palantir Overlord says Bitcoin has no upside left.
• 10:49
  He claims BlackRock and the state have Co opted Bitcoin,
• 10:52
  that it's been captured, neutered and defamed.
• 10:55
  Because another investment that you've made and been very public
• 10:57
  about is Bitcoin and you have remained a very big ball.
• 11:03
  You have come out publicly and you said that enemy number one
• 11:07
  to Bitcoin is the sociopathic grandpa from Omaha that you
• 11:11
  described as Warren Buffett. Can you tell me what you were
• 11:15
  thinking when you said that it? Got a lot of laughs.
• 11:19
  So somehow people it probably had some kind of a some kind of
• 11:24
  a nerve, but it it was it the the, you know, the in in it was
• 11:34
  in a 2022 Bitcoin convention talk I gave and and the I had
• 11:41
  there were there were three separate enemies.
• 11:43
  There was a Jamie Dimon, Larry, Larry.
• 11:45
  Fink, who's no longer an enemy, by the way.
• 11:47
  Yeah, he sort of he sort of shifted with maybe that maybe I
• 11:49
  but anyway, let's I can save the man to Larry Fink things too.
• 11:52
  But and then there was and then there was Warren Buffett and the
• 11:57
  the the rough context was, you know, my my my sort of political
• 12:02
  sociological analysis was the crypto currencies were it was a
• 12:06
  revolutionary youth movement. But for them to really take
• 12:09
  over, you needed, you needed it couldn't just be a student
• 12:13
  uprising like 1968. You needed to get the rest of
• 12:17
  the society on board. And, and as long as the old
• 12:20
  people were going to sit on their hands, that was the big
• 12:24
  blocker for for crypto currencies to to go to the next
• 12:28
  level and are. You still convinced?
• 12:31
  I, I think it's gotten partially unlocked with the, the, the,
• 12:36
  the, the Bitcoin ETF on, on. But then there, you know,
• 12:42
  probably the, the, the part where I'm less less convinced of
• 12:46
  is this, this question of the, the sort of ideological founding
• 12:51
  vision of Bitcoin or these cryptocurrencies as sort of a,
• 12:55
  you know, cypherpunk crypto anarchist, libertarian, anti
• 13:01
  centralized government thing. You know this is always.
• 13:04
  You know the line. What got you interested?
• 13:05
  In that's why that's what I, that's what I, that's what I
• 13:09
  thought was terrific about it. And, and then, you know, the
• 13:12
  question is, does it really work that way Or, you know, has that
• 13:15
  thread somehow gotten lost? And so when people in the FBI
• 13:18
  tell me that they'd much rather have criminals use Bitcoin than
• 13:22
  $100 bills, it suggests that maybe, you know, maybe it's not
• 13:26
  quite not quite working the way it was supposed to.
• 13:28
  Have you sold any of your Bitcoin?
• 13:30
  I, I still hold some. I, yeah, I, you know, there are
• 13:35
  all these ways I, I, I didn't buy as much as I should have.
• 13:39
  And I, I, I'm, I'm, I'm, I'm not sure it's going to go up that
• 13:46
  dramatically from here. From here.
• 13:47
  Yeah, I think we got the, we got the ETF edition and I don't know
• 13:51
  who else, who else buys it quickly from here?
• 13:55
  Some interesting investment advice that that that actually
• 13:59
  surprised me because I, I don't think I've heard you.
• 14:01
  I thought you were still all in it.
• 14:03
  It I still have a small position it it probably still can go up
• 14:08
  some, but it's going to be a volatile bumpy ride.
• 14:11
  And and I am I'm I, I was, I had a dual dual reason 1 was the
• 14:17
  sort of, you know, ideological decentralized future of
• 14:20
  computing world that I I really do believe in, really believe
• 14:24
  would be would be better. And it seemed like the perfect
• 14:27
  vehicle for that for for such a long time.
• 14:29
  And I'm, I am just much less convinced of that.
• 14:31
  And so I so maybe, so maybe, maybe maybe Larry Fink with the
• 14:36
  BlackRock ETF surrendered to the forces, the anti ESG forces.
• 14:41
  Or maybe it's it's more like bitcoins been Co opted by by
• 14:46
  them. And I, I, I worry it was more
• 14:47
  than. OK, let's translate that.
• 14:50
  The man who literally funds the surveillance state is mad that
• 14:53
  he doesn't control Bitcoin. If the Antichrist is bearish on
• 14:57
  Bitcoin, that's bullish baby. Teal says the FBI loves Bitcoin,
• 15:01
  that it's not cypherpunk anymore.
• 15:03
  Well yeah, it's actually because it won.
• 15:05
  The revolution doesn't stay underground forever.
• 15:08
  It becomes the new foundation. ETFs, banks, sovereigns.
• 15:13
  They're not Co opting Bitcoin, they're bowing to it.
• 15:16
  The decentralized protocol call absorbed Wall Street, not the
• 15:20
  other way around. And that, my friends, is how
• 15:23
  freedom wins. And while teals crying about
• 15:26
  decentralization being dead, Wall Street veteran Jordy Visser
• 15:30
  just explained what's really happening with bitcoins price.
• 15:33
  What's your read on Bitcoin and? Are you?
• 15:35
  Giving up are. You walking away.
• 15:37
  So a couple of things. There's.
• 15:40
  Freeze frame Geordie's. Reaction right there.
• 15:44
  Number one, every possible thing to everyone listening that you
• 15:49
  would want for Bitcoin is happening right now, meaning the
• 15:53
  government is supporting things. The financial guardrails are
• 15:57
  shifting. We've got news after news every
• 16:00
  single day about the financial guardrails becoming more digital
• 16:03
  economy. It's things that are necessary
• 16:05
  for the network effects to kick in.
• 16:07
  All of that has happened. We still see inflows from
• 16:10
  retail. We still see the banks now
• 16:11
  opening it up for people to go through.
• 16:14
  But there's clearly a bunch of whatever it is, OGS, Bitcoin
• 16:17
  miners out of China, whoever it is, large amounts.
• 16:21
  Mike Novogratz publicly said it. If you go back to July, there
• 16:24
  have been billions and billions of dollars of let's say original
• 16:29
  investors supporting Bitcoin regardless of how you want to
• 16:32
  term it. So I'm writing a, a sub stack.
• 16:35
  I think what people should think about is we don't have an IPO
• 16:38
  for Bitcoin. But this last four months to me
• 16:41
  feels like sourcing the pricing of the IPO where the where the
• 16:46
  original investors are getting out of large chunks.
• 16:49
  Now, why is there ever an IPO for monetization?
• 16:53
  If someone has 9 billion in Bitcoin?
• 16:57
  I I mean, I think they should diversify a little bit.
• 17:00
  If it was related to China, guess what China has now that
• 17:03
  they haven't had since 2014? Fifteen, a bull market in
• 17:08
  stocks. Guess what else people have,
• 17:11
  well, they have the chance to invest in AIAI is A10 bagger.
• 17:16
  In many cases, you've been able to do it in the public markets.
• 17:19
  So I think at some point Bitcoin becomes a boring asset to people
• 17:22
  who are looking for three baggers, 4 baggers, 5 baggers.
• 17:24
  It becomes a diversification. So I think this is just a
• 17:27
  distribution of a few massive holders and the weaknesses I
• 17:32
  have heard about Bitcoin as I've gotten into it from
• 17:35
  institutions, it's too volatile, not too volatile anymore.
• 17:38
  We've taken the implied volatility and the actual
• 17:41
  realized volatility down to 30 and below in some cases.
• 17:44
  So the Vols come down. OK, what's the next thing?
• 17:47
  Well, it's too concentrated in ownership.
• 17:50
  I mean, I've gone through the numbers.
• 17:51
  When you add Satoshi's wallet, you add the other whales you're
• 17:53
  talking about. About 1/3 of it has been owned
• 17:55
  by not many people. I think like 10,000 is the
• 17:58
  number I heard. Regardless of what the right
• 18:00
  answer is, every every month the Bitcoin I did outstanding shares
• 18:05
  goes up. It's up again this month even
• 18:06
  though the price is down South. I think everyone that's
• 18:08
  depressed has actually become entitled.
• 18:11
  I think they they think it's a risk asset.
• 18:13
  Oh, there's another one. This is just a risk asset.
• 18:15
  OK, well, it's not going up with the NASDAQ, so that's good.
• 18:18
  Lower correlation. Well, it's just digital gold.
• 18:20
  Well, it's not going up with gold.
• 18:22
  So guess what? In portfolio theory, for
• 18:24
  everyone who hasn't bought any yet, I think with your stocks,
• 18:27
  with your gold, with your bonds, now there's every argument to
• 18:30
  make. It's lower volatility now, lower
• 18:32
  correlation with the other traditional asset class,
• 18:34
  diversification from gold. I think this thing is going to
• 18:38
  move higher. I was wrong about where I
• 18:40
  thought we'd be at this point. It's still up for the year.
• 18:43
  I think once this consolidation is done and we're through the
• 18:45
  IPO process and the fundamentals take over next year, once we get
• 18:49
  through Clarity and the beginning of tokenization and
• 18:52
  the stories of Zell and everything along those lines, I
• 18:55
  think we're going to have an acceleration.
• 18:56
  Go Bitcoins not broken. It's maturing.
• 18:59
  OG's are cashing out, institutions are quietly buying.
• 19:02
  It's a silent IPO. Remember when Galaxy Digital
• 19:06
  sold 9 billion of Bitcoin for one client and Bitcoin didn't
• 19:09
  even drop 5%? That's not weakness, that's
• 19:12
  unreal strength. The market absorbed billions in
• 19:15
  cell pressure without breaking 100K.
• 19:17
  That's the tell. We're not in a distribution,
• 19:20
  we're in a transition. Bitcoins moving from the pirates
• 19:22
  to the pensions, from chaos to collateral.
• 19:25
  And while the shift unfolds, the feds losing control of its own
• 19:29
  narrative, things are about to get insanely bullish.
• 19:31
  It's it's time to bring it home. But before we do, look at our
• 19:35
  likes. 3-4 times maybe? I pump those numbers.
• 19:38
  Up those are rookie numbers in this racket.
• 19:40
  Let's take a quick second for our sponsors who keep this show
• 19:43
  on the air over at the Bitcoin way.
• 19:44
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• 19:47
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• 20:01
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  today using that link in the show notes.
• 20:06
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• 20:26
  get. 25 basis points off your first loan. the Fed just quietly
• 20:30
  admitted what we've been saying for years.
• 20:32
  There's no way out. They ended quantitative
• 20:34
  tightening not with a bang, but with a whimper.
• 20:36
  Bernanke once said that QE was temporary. 14 years later, that
• 20:41
  temporary emergency policy became the permanent operating
• 20:45
  system of the global economy. The Feds, trapped, raise rates,
• 20:48
  they blow up their balance sheet, cut rates, inflation
• 20:51
  explodes. They are the market now.
• 20:53
  They can't sell the trillions in mortgage-backed garbage without
• 20:57
  detonating housing. The central bank that once said
• 21:00
  it could normalize now can't even afford to tell the truth.
• 21:03
  There is no exit ramp left, just printing.
• 21:06
  And when the system is addicted to liquidity, there's only one
• 21:11
  sober asset left, Bitcoin. Because Bitcoin doesn't need
• 21:14
  Jerome Powell's permission to function.
• 21:16
  It just keeps running 17 years later.
• 21:19
  Bitcoin never shuts down. Even Besson gets it.
• 21:22
  I think the next big step would be if a government that has the
• 21:27
  ability to print and debase and uses a central bank to
• 21:31
  manipulate and control and influence the time, energy,
• 21:35
  effort and labor of the populace and of society.
• 21:39
  If, if a government that has that power is able to buy
• 21:44
  Bitcoin and acknowledge it, not even the legal tender part, just
• 21:47
  acknowledge it, own it and validate it, that would be huge
• 21:54
  deal. And I actually think the United
• 21:56
  States of America is probably in the best position to do that.
• 22:01
  And where I think they're the most likely candidate because
• 22:03
  they have the world reserve currency, like the US is like
• 22:08
  broke, like we just issued debt. Like we're, you know, being part
• 22:12
  being the world reserve currency implies that we run these
• 22:16
  massive deficits and we issue all of this debt, right?
• 22:18
  And so we are the most incentivized to actually start
• 22:22
  backing our future promises with something real.
• 22:26
  So I told, you know, my chief of staff is somewhere in the
• 22:30
  audience. I told him, like after El
• 22:32
  Salvador, people would ask me, you know, what's the next?
• 22:35
  Is it, you know, Guatemala, Argentina, everyone was like
• 22:38
  looking on a map, looking through Latin America.
• 22:41
  I said, you know, it might be the United States.
• 22:43
  Bitcoins very American. And the United States in theory
• 22:47
  is technology innovation, inclusion, equality.
• 22:51
  Every node on the network is treated equal.
• 22:54
  You can come and and go as you please.
• 22:56
  So maybe I'm manifesting a little bit.
• 22:59
  Maybe this is less of a prediction, more of a hope.
• 23:02
  But I think that would be a really big deal.
• 23:04
  And as big of a deal as El Salvador was.
• 23:06
  The next step would be a government that actually can
• 23:10
  print their money and debase the populace through money printing.
• 23:14
  If they were to say this Bitcoin thing's legit and we should have
• 23:17
  some, I think that'd be. Jack Maulers nails it. the US
• 23:23
  will print to buy Bitcoin, kind of because they have to.
• 23:25
  Because when you can't fix the debt, you inflate it away and
• 23:29
  pivot to the hardest collateral on earth.
• 23:31
  The feds cooked, the banks are bleeding, and the Antichrist,
• 23:34
  well, he's bearish on freedom and that is perfectly fine with
• 23:37
  us. I think Bitcoin is going to RIP
• 23:39
  the face off this market. I think bitcoins going to
• 23:42
  200,000 to 1,000,000 between that, which people are always
• 23:47
  like, that's such a wide range, you Dick.
• 23:50
  Well, you're asking me to price something in a piece of paper
• 23:53
  that these guys print all the time.
• 23:54
  It's it's less of how high do I think Bitcoin is going to go.
• 23:57
  It's how much are these guys going to print?
• 23:58
  Like I don't fucking know. They're going to they're going
• 24:01
  to stimulate 10 trillion, 5 trillion, 15 trillion.
• 24:05
  You know, if they do four times as much as they did in COVID,
• 24:09
  yeah, it could go to a a million, right?
• 24:12
  If they do the same as COVID, yeah, it goes to 400 K.
• 24:17
  They do half a COVID 250K, so somewhere in that range.
• 24:21
  But I think Bitcoin shows you how fucked this thing really is.
• 24:27
  It's what Bitcoin does every time is it's like, oh, the S&P
• 24:31
  was up 49%, gold did well, gold was up 8%.
• 24:34
  What's that thing? Whoa, 160%.
• 24:38
  And that's the free market being like, your system's piece of
• 24:43
  trash. You can't control this thing.
• 24:45
  So we're going to tell you exactly how fucked your system
• 24:48
  is. So I think the system's really
• 24:50
  fucked. And the best way to monetize
• 24:54
  that is to own Bitcoin. But the best way to express it,
• 24:58
  I think it puts up a big you number over the next two years.
• 25:02
  That's it. The game is over.
• 25:03
  They just don't know it yet. Bitcoin isn't some speculative
• 25:06
  trade anymore. It's the global reserve asset
• 25:09
  being priced into history. What did Giga Chad say?
• 25:12
  Oh yeah, he said Winters canceled.
• 25:14
  It's going to a million. How do you?
• 25:16
  Expect. The asset to continue a price
• 25:20
  increase at these. Levels that we've.
• 25:22
  Seen I mean. Can it keep that?
• 25:24
  Up over the next 5. Years over the next. 10 years
• 25:27
  and. At what?
• 25:28
  Point do we see? You know, winter coming again
• 25:31
  because that's been a a permanent fixture.
• 25:36
  Of of this. Asset class, right?
• 25:38
  It's gone from. 0. Or 1000 to 20 and then back down
• 25:43
  to three or four and then up to 50 and then back down to. 15 and
• 25:47
  now. Up to 110?
• 25:48
  Like when does it drop again? Winners not coming back, we're
• 25:54
  past that. We're past that phase.
• 25:56
  If bitcoins not going to 0, it's going to $1,000,000 and you have
• 26:00
  all the evidence you need to determine that, right?
• 26:03
  The president of the United States has determined he
• 26:05
  supports Bitcoin. The cabinet supports Bitcoin.
• 26:08
  Scott Peasant supports Bitcoin. Paul Atkins has shown himself to
• 26:13
  be an enthusiastic believer of Bitcoin and digital assets.
• 26:17
  Ken Tez at CFTC feels the same. Ray, the the banks are going to
• 26:22
  custody Bitcoin. Bitcoin is has gotten through
• 26:26
  its riskiest period. The accounting has been
• 26:29
  corrected. There's now only 450 Bitcoin a
• 26:32
  day available for Sale by natural sellers.
• 26:35
  That's the miners. At this level, that works out to
• 26:38
  about $50 million of Bitcoin available for sale every day.
• 26:42
  If that $50 million is bought, then the price has got to move
• 26:46
  up to find any natural, any any seller that's price sensitive.
• 26:50
  Now, if you do the math, you'll actually see the Bitcoin
• 26:53
  treasury companies by themselves are buying the entire natural
• 26:57
  supply. BlackRock and the ETFs are
• 27:00
  buying another measure of that. And we've got nation state
• 27:05
  actors coming into the space. So I think when Bitcoin rallies,
• 27:10
  if it surges to 500,000 or $1,000,000, then maybe we could
• 27:15
  talk about it crashing down by a $200,000 a coin.
• 27:19
  But at the current price levels, it only takes $50,000,000 to
• 27:23
  turn the entire drive shaft of the crypto economy.
• 27:26
  One turn and you've got the Trump Media Organization
• 27:30
  announcing 2 1/2 billion. You've got GameStop announcing
• 27:33
  500 million. You've got my company that's
• 27:36
  raising billions and billions of dollars.
• 27:38
  So the writing is on the wall. Bitcoin's moving higher.
• 27:41
  Arthur Hayes says 70% crashes are dead.
• 27:45
  And Trump, he's watching China stack sets and saying we have to
• 27:48
  keep America #1 the 4th turning is here. the Fed can't unwind,
• 27:52
  the dollar can't hide. And Bitcoin, Bitcoin never dies.
• 27:56
  Stacks at stay humble Moon Bember has begun.
• 27:59
  Maybe batten down the hatches and sundered Oh and yeah, we're
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  20% off and we'll see you there. Hope you guys enjoyed this one
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• 28:37
  you next time if you. Prefer to go down.
• 28:40
  With the ship you.