Latest / Simply Bitcoin / BREAKING: $25T Can Now OFFICIALLY HIT Bitcoin! | EP 1395

Transcript

BREAKING: $25T Can Now OFFICIALLY HIT Bitcoin! | EP 1395 · Simply Bitcoin

• 0:01
  After years of speculation, it's official every bank in America
• 0:07
  has gotten the green light to sell Bitcoin to their clients.
• 0:11
  This is obviously not just massive because these banks have
• 0:15
  a combined 25 trillion, well really $24.5 trillion, but it
• 0:21
  sends a massive warning to the rest of the world.
• 0:24
  Essentially bend the knee to Bitcoin or get left behind.
• 0:29
  Now there is a little bit of nuance here, I would say, but
• 0:32
  before I dive into all the nuance, let me breakdown what
• 0:37
  I'm talking about. So here we go.
• 0:39
  First and foremost, what happened yesterday is the Office
• 0:43
  of the Comptroller of the Currency, basically under the US
• 0:46
  Treasury Secretary did this letter and essentially said
• 0:51
  every bank in America can now hold Bitcoin.
• 0:54
  Now this letter is only 8 pages. It is full of a bunch of, you
• 0:58
  know, I, I would say, you know, legalisms it, it's, it's got a
• 1:04
  lot of buzzwords in it. So I'm not going to cover the
• 1:06
  letter word by word. I think there's a good breakdown
• 1:09
  by Bitcoin Magazine that that's really going to give you kind of
• 1:11
  an idea of what actually happened.
• 1:14
  I will kind of show you what Reuters thinks about this.
• 1:18
  They're saying kind of the same thing.
• 1:19
  You know, the, the mainstream media is obviously always has
• 1:23
  their bias. But before I do that, let's just
• 1:25
  go over here to Bitcoin Magazine again, I think they did a great
• 1:29
  breakdown of this. So the OCC, the Office of
• 1:31
  Comptroller of Currency confirms that banks can act as
• 1:35
  intermediaries in crypto transactions.
• 1:38
  The OCC clarified today that national banks may conduct
• 1:42
  crypto related quote riskless transactions.
• 1:46
  Now this is where you can kind of break down the nuance here.
• 1:50
  I think there is some parallels into very big cases that
• 1:54
  happened in the US recently, specifically with Samurai, but
• 1:56
  I'll get into that in a minute. Anyways, just breaking this
• 1:59
  down, they clarified that national banks again may engage
• 2:03
  in quote riskless principal transactions involving crypto
• 2:07
  assets. It's a new interpreted letter.
• 2:09
  Excuse me, hold on. Wow, choking on my saliva.
• 2:14
  In it's new interpretive letter 1188, the OCC explained that
• 2:19
  such transactions allow a bank to act as a principal between 2
• 2:22
  customers, buying crypto from one while simultaneously selling
• 2:27
  it to another. The bank does not hold the
• 2:29
  assets in inventory, effectively serving as a broker acting on
• 2:33
  behalf of the clients. This guidance follows a broader
• 2:37
  regulatory trend to ease restrictions on crypto
• 2:39
  activities within the traditional banking sector.
• 2:43
  Of course, in March, the OCC removed prior requirements for
• 2:46
  banks to seek advance approval before engaging in certain
• 2:49
  crypto operations, signaling growing acceptance of digital
• 2:53
  assets in mainstream finance. In other words, U.S. banks can
• 2:57
  now offer crypto services in a manner similar to traditional
• 3:01
  brokerage activities. Of course, I've been telling you
• 3:04
  guys this for the last week, what we've been seeing from the
• 3:08
  banking system in the last recent weeks, basically since JP
• 3:12
  Morgan announced that they're doing a strategy copycat is like
• 3:16
  the official green light. Yes, this year in terms of price
• 3:20
  has kind of been a nothing burger.
• 3:22
  We did for a little bit last night bump above 94 ish K.
• 3:29
  So we we were we were in the green for the year for about,
• 3:32
  you know, a couple of hours. Now we're back under that green
• 3:36
  year, so overall we're still in the negative.
• 3:38
  I think it's like 1.5% down this year, but it does make you think
• 3:42
  that we are seeing a transition from what was in Bitcoin to
• 3:48
  where we are going in the future.
• 3:50
  Now again, I've been saying this for a while on the show.
• 3:55
  This does look like Wall Street has finally bend the knee.
• 3:58
  If you take these headlines on the surface, it's very much like
• 4:02
  this idea. Oh, Wall Street finally
• 4:04
  capitulates the Bitcoin. I've been going a little more
• 4:08
  tinfoil hat. I'm I'm a little more
• 4:09
  speculative on this. To me, this seems more on the
• 4:13
  lines of Wall Street is trying to come into Bitcoin,
• 4:16
  essentially position themselves as a middleman into Bitcoin and
• 4:20
  be, hey, trust us bro, we're going to do good here.
• 4:24
  You know, I think this is Wall Street trying to Co-op Bitcoin,
• 4:27
  not in the sense that they can actually stop transactions on
• 4:30
  the base layer, but try to funnel all of the attention into
• 4:35
  these Wall Street products. Now, personally, I wouldn't be
• 4:38
  buying my Bitcoin from a quote UN quote trusted bank.
• 4:41
  To me that that is asinine, but you can see that they're finally
• 4:45
  positioned. They're finally coming out here
• 4:48
  and being like, look, we got to adopt or we will literally fade
• 4:52
  away way. That's the initial kind of take
• 4:55
  here. Obviously, I think this is
• 4:57
  bullish overall. You know, the banks have now
• 5:00
  officially capitulated and the regulations, of course, we've
• 5:03
  heard Donald Trump come out and say we're going to make America
• 5:06
  the Bitcoin superpower of the world.
• 5:08
  So on that front, it does seem to be slightly bullish.
• 5:11
  This idea that, hey now, finally after 2025, all the banks can
• 5:16
  get into Bitcoin in whatever manner they, they please.
• 5:20
  Every almost every big Wall Street bank, hedge fund asset
• 5:24
  manager, they have ETFs, they have Bitcoin products.
• 5:28
  Now every National Bank can officially sell Bitcoin to their
• 5:33
  clients. So that's like the overall take.
• 5:36
  But I do want to kind of breakdown what this kind of
• 5:39
  framing is. Again, they frame this as a
• 5:43
  riskless principal transaction. So going further down here, this
• 5:48
  is where you kind of start to understand again, that letter
• 5:51
  had a lot of jargon. It, it's not really meant for
• 5:54
  the layman. It's really meant more for the
• 5:55
  banks. They, they understand what this
• 5:57
  is. So in essence, the letter
• 5:59
  basically confirmed that national banks may engage again
• 6:02
  in this idea of riskless principal transactions and
• 6:04
  crypto assets. Per the letter, a riskless
• 6:07
  principal transaction occurs when a bank buys an asset from
• 6:11
  one counterparty while simultaneously agrees to sell it
• 6:15
  immediately to another without holding the asset in inventory,
• 6:19
  except in rare cases like settlement failures.
• 6:22
  In this role, the bank function similar to a broker, taking on
• 6:25
  limited settlement market and credit rest credit risk.
• 6:28
  The letter made a distinction between crypto assets that are
• 6:31
  securities and those that are not.
• 6:33
  Obviously Bitcoin and everything else.
• 6:35
  Riskless principal transactions and crypto assets classified as
• 6:38
  securities are already permissible under existing law
• 6:41
  as the bank acts without recourse, meaning it does not
• 6:44
  assume customer risk. The OCC extends this reasoning
• 6:48
  to crypto assets that are not securities, obviously Bitcoin,
• 6:52
  framing the activity as part of a broader quote business of
• 6:56
  banking. Under U.S. law, the business of
• 6:58
  banking is not narrowly defined, allowing banks to engage in new
• 7:01
  activities that logically extend their traditional functions.
• 7:05
  The OCC analyzed the activity using four factors.
• 7:08
  It's similarly to recognize banking activities, it's
• 7:11
  benefits to banking customers, the natures of the risk involved
• 7:14
  and whether state chartered banks are authorized to perform
• 7:17
  it. Risk principal crypto asset
• 7:19
  transactions aligned with traditional brokerage and
• 7:22
  custody services benefit customers by providing regulated
• 7:26
  access to crypto assets and carry risks familiar to banks
• 7:29
  such as settlement risk. Though state regulatory
• 7:32
  frameworks do not prohibit similar activity supporting the
• 7:35
  federal federal permissibility. So again, this is one of those
• 7:39
  moments in my opinion, you know, what do I really know?
• 7:43
  But this is one of those moments, in my opinion, where
• 7:46
  we're finally getting to the point where the banks have to
• 7:50
  acknowledge that Bitcoin. I, I know they didn't
• 7:53
  specifically say this, but that Bitcoin is money, that this
• 7:56
  isn't some alien thing that they're not used to, you know,
• 7:59
  interacting with. Yes, it's a new technology, yes,
• 8:02
  it's a new form of money, but you see how they're trying to
• 8:06
  frame Bitcoin and put it in a box that they're used to.
• 8:09
  And this is something that I think Bitcoin is having been
• 8:12
  saying for a while is look, you don't really have to do too much
• 8:15
  difference in accepting Bitcoin. Yes, there is a, a custodial
• 8:20
  barrier. Yes, there is like a, a
• 8:22
  technical upgrade that you have to do.
• 8:24
  But essentially they've been doing this forever.
• 8:27
  Hence why I've said on the show multiple times that I don't
• 8:29
  think banks are going away. I know a lot of Bitcoiners for
• 8:32
  years have been saying like, oh, Bitcoin obsoletes the banks.
• 8:36
  I don't think that that's what's going to happen.
• 8:38
  I think we are going to see a lot of quote Bitcoin banks in
• 8:41
  the future. Strategy has been doing this are
• 8:43
  actually positioning themselves as strategy bank.
• 8:46
  We've seen wow, like I I think I drink too much coffee.
• 8:50
  I got Cottonmouth right now. Guys, hold on.
• 8:54
  We've seen Caitlin Long essentially say custodia fully,
• 8:58
  fully backed bank, they shot that down.
• 9:01
  Now we're seeing that they're finally accepting this, though
• 9:05
  of course they're framing this in a way that hey, you know,
• 9:08
  this is a new thing. We're upgrading it.
• 9:10
  We're we're here to protect our customers, our clients.
• 9:14
  It's all regulatory, regulatory backed.
• 9:17
  I don't even think that's a word.
• 9:19
  But you see, hey, they finally did on on some level admit that
• 9:25
  they have to adapt to Bitcoin. And this has been a greater
• 9:29
  trend that we've seen all year rather since November of last
• 9:32
  year when Trump came out and said, hey, we are going to be
• 9:36
  the Bitcoin superpower of the world.
• 9:37
  So on a regulatory front, things are changing very quickly.
• 9:41
  I think 2025 is that year where yes, maybe the price didn't do
• 9:46
  as well as we all thought it was going to do.
• 9:49
  But as I said a few times on the show, it does seem like it is
• 9:53
  that foundational year where finally, for better or worse, we
• 9:58
  do get accepted into the traditional financial system.
• 10:02
  A lot of people might argue that this is Bitcoin being Co opted,
• 10:06
  though I fully believe in the idea of Bitcoin as a Trojan
• 10:09
  horse. They just let the Trojan horse
• 10:11
  in and I think slowly but surely we're going to see that they
• 10:16
  they know they're not going to be able to control Bitcoin on a
• 10:19
  transactional level. They're going to have to bend
• 10:21
  the knee. That's kind of my more positive
• 10:24
  view on this. Let's see what Reuters says
• 10:27
  about this because then you can start to kind of get an idea of
• 10:30
  the bias against Bitcoin. So I'm going to go over to
• 10:33
  Reuters real quick and here's their headline.
• 10:37
  U.S. bank regulators say banks can act as crypto
• 10:40
  intermediaries. Again, it basically shit says
• 10:43
  that hey, selling Bitcoin, buying Bitcoin from one customer
• 10:48
  and selling it to another is basically a brokerage act.
• 10:51
  It's something they already do. I'm not going to read this whole
• 10:54
  thing because you already know what it's about, though there is
• 10:58
  one specific quote in here that I find very interesting.
• 11:05
  Of course they start talking about, you know, banks
• 11:08
  effectively act as brokers. Ever since Trump kind of came
• 11:11
  out and went pro Bitcoin, he's rewriting the rules and removing
• 11:15
  guardrails while his family engages in crypto ventures.
• 11:18
  And you can start to see obviously their bias.
• 11:21
  Whether you like Trump or not, this is the media bias.
• 11:23
  But this, this sentence right here I think is the most
• 11:26
  revealing. 1 Critics say such changes have made the
• 11:29
  traditional financial sector and loosely regulated and volatile
• 11:33
  world of cryptocurrencies more interconnected, potentially
• 11:36
  creating systemic risk. They got to roll out the
• 11:40
  systemic risk thing again. As I've said on the show
• 11:42
  multiple times, if or rather when the traditional financial
• 11:48
  system does blow up again a la 2008, now they do have a good
• 11:52
  scapegoat. They're going to say, oh, it's
• 11:55
  because we, it's because we integrated Bitcoin in this.
• 11:58
  The systemic risks were so huge. Obviously we might be seeing a
• 12:03
  too big to fail moment. Hence why I am not a fan of you
• 12:08
  guys using a traditional bank to buy Bitcoin.
• 12:11
  I mean, if they if they let you take Bitcoin off the exchanges,
• 12:14
  which we haven't really got more news on that, then I guess
• 12:18
  whatever of convenience and whatever the lowest fees are for
• 12:22
  you, you know, do do what's best for you.
• 12:25
  But until you take that Bitcoin into custody under your own
• 12:28
  control, it sounds like they might be doing some form of
• 12:33
  61-O2, some form of too big to fail, some form of bail out
• 12:37
  here. And so you you start to see what
• 12:40
  might be happening here. So look, every bank in America
• 12:45
  can now officially buy and sell Bitcoin to their customers.
• 12:51
  So huge news from a banking standpoint.
• 12:54
  Obviously, I'm not the biggest fan of the banks, hence why I'm
• 12:58
  a Bitcoiner in the 1st place. But it does go to show that we
• 13:02
  are evolving in the mainstream kind of perspective of what
• 13:07
  Bitcoin is. Remember over the years, they've
• 13:09
  always said Bitcoin's a speculative asset.
• 13:12
  You know, it's a index of money launderers, it's only for
• 13:14
  criminals, etcetera, etcetera, etcetera.
• 13:17
  And literally in the span of one year, they fundamentally shifted
• 13:22
  their perspective on Bitcoin. Now it's no longer just a
• 13:25
  speculation. It's becoming, you know, a
• 13:28
  systemic risk to the traditional financial system.
• 13:31
  It's becoming a pivotable, A pivotal role in your portfolio,
• 13:35
  A pivotal macro asset, like something you have to hold now.
• 13:41
  It's really happened a lot quicker than I, I personally
• 13:44
  would have expected. But this year, even though the
• 13:47
  price hasn't ripped as much as we all hoped it would, as much
• 13:51
  as we all thought it would, the narrative around Bitcoin has
• 13:55
  fundamentally shifted. It is no longer something that
• 13:58
  people can ignore. Every bank in the US now has to
• 14:01
  embrace it. Well, they don't have to embrace
• 14:03
  it, but they they have the option to embrace it now.
• 14:07
  So it really is upon the clients of these banks, you know,
• 14:11
  everyone going out there and being like, hey, I actually want
• 14:13
  this. And really it always makes me
• 14:15
  wonder because now that every bank is getting into Bitcoin,
• 14:19
  will this make it more likely that people will start to save
• 14:22
  in Bitcoin? Cuz that's what it's really all
• 14:24
  about. Are people actually saving in
• 14:26
  Bitcoin? Because yeah, maybe they, they
• 14:29
  can offer these products, but if you don't actually buy it, you
• 14:32
  don't actually use it. And by use, I mean storing your
• 14:35
  wealth in it. Then what?
• 14:36
  What is this really all about? That's kind of my, my initial
• 14:40
  overall take of this huge news. Every bank now officially, all
• 14:45
  the red tape is gone. You can officially buy and sell
• 14:49
  Bitcoin from all of your national banks.
• 14:51
  Obviously, it's gonna take a little bit until these banks
• 14:54
  roll out products, they figure out their custody, etcetera,
• 14:57
  etcetera. But it's all completely clear
• 14:59
  now. So many of the obstacles
• 15:01
  surrounding Bitcoin, I would argue in 2025 has been
• 15:05
  completely clear out of our way. So look from a Bitcoin only, as
• 15:10
  Nico likes to say, from a single issue voter kind of view on
• 15:15
  this. What the Trump administration
• 15:18
  has done for Bitcoin in terms of allowing Bitcoin to get out of
• 15:22
  the gate, I think is extremely bullish.
• 15:25
  Now I still have the view that Wall Street is here trying to in
• 15:29
  some way control Bitcoin. I think they're in that way
• 15:34
  trying to Co opt Bitcoin, use our products.
• 15:37
  We'll be the middle man in your Bitcoin, which literally the
• 15:40
  white paper talked against. But this is this is kind of
• 15:45
  where I'm thinking it's like, OK, they're finally here.
• 15:47
  They finally admitted they finally bent the knee.
• 15:51
  But you shouldn't be using their products.
• 15:54
  Far as I'm concerned. You should be buying Bitcoin and
• 15:56
  using it directly though, you know, I, I do, I do see the, the
• 16:01
  point of in the future, you know, it's going to be
• 16:04
  completely, I, I, in my opinion, OK to use Bitcoin within the
• 16:08
  traditional financial system. I think the traditional
• 16:11
  financial system has no, no choice but to adopt Bitcoin in
• 16:15
  any way possible. So obviously I think there will
• 16:19
  be a time and a place where Bitcoiners will be able to
• 16:22
  benefit from the traditional financial system with their
• 16:25
  Bitcoin. And I think we are at the
• 16:27
  beginning point of this. Now I do want to go back a
• 16:29
  little bit. Let's go back to this article
• 16:32
  here about on on Bitcoin magazine about what a riskless
• 16:38
  principal transaction is, because I think this is where it
• 16:42
  does get a little interesting considering what just happened
• 16:45
  with Samurai wallet and the Samurai devs.
• 16:48
  When I read this and, and I could be wrong here, this this
• 16:52
  could be a completely wrong take here, but it did kind of bring
• 16:56
  up the idea of what happened with the Samurai wallet case in
• 17:01
  general. So I'm going to go back here and
• 17:04
  it goes per the letter, a riskless principal transaction
• 17:07
  occurs when a bank buys an asset from 1 counterparty with the
• 17:11
  simultaneous agreement to sell it immediately to another
• 17:15
  without holding the asset in inventory, except in rare cases
• 17:18
  like settlement failures. Again, remember what they said
• 17:22
  about the Samurai Wallet depths, which is a very interesting kind
• 17:27
  of rabbit hole right now. It really does sound like a
• 17:30
  rules for thee but not for me moment because hey, now every
• 17:35
  bank can hold Bitcoin, or rather, you know, quote UN quote
• 17:38
  hold Bitcoin. They aren't actually custodying
• 17:40
  the Bitcoin. They're just like swapping it
• 17:42
  like a brokerage from one seller to another.
• 17:44
  They're kind of doing the like, hey, this is like peer-to-peer
• 17:47
  Bitcoin payments, you know, but you're just using our platform
• 17:50
  for this. But literally the entire Samurai
• 17:54
  wallet dev, you know, case was built on this idea of custodying
• 18:01
  this Bitcoin. Does it mean if you are swapping
• 18:04
  Bitcoin from one person to another without actually ever
• 18:06
  holding this Bitcoin, that you are liable or in control of that
• 18:10
  Bitcoin? Well, that's what they hinge the
• 18:13
  entire Samurai wallet dev case on.
• 18:16
  They're like your software facilitated these trades or
• 18:19
  facilitated these coin joins. Therefore you are liable for
• 18:23
  what happens afterwards. You are in control of that
• 18:27
  Bitcoin. Now the OCC essentially said,
• 18:30
  hey, you know, like you're not really holding Bitcoin, you're
• 18:33
  not really in control of that Bitcoin if you're just swapping
• 18:35
  it from one buyer to another. And you're like, OK, so like
• 18:41
  you're, you're just making up rules for us.
• 18:43
  But when you guys do it, it's OK.
• 18:45
  That's like my initial view on this.
• 18:47
  I'm like, it sounds like they are essentially doing the same
• 18:50
  thing, though Samurai Wallet, of course, is software for for coin
• 18:54
  join or mixing, however you want to call it or however the legal
• 18:58
  framework is. And they never actually held the
• 19:01
  Bitcoin. And now every bank in the US can
• 19:05
  essentially do the same thing. But since they labeled it a
• 19:07
  brokerage, it's all good. It's, it's, it's all kosher
• 19:11
  here. It's all good by the law.
• 19:13
  And it just makes you think it's like, man, it really is a 2
• 19:18
  tiered legal justice system here.
• 19:21
  Like it is A2 tiered system. You're either in the in Group or
• 19:25
  you are not. And they can do whatever they
• 19:27
  want. And as long as they sign the
• 19:28
  piece of paper, as long as it looks legal, then you're good to
• 19:32
  go. But when it comes to the
• 19:33
  outcast, the outsiders that are doing things you don't like,
• 19:37
  then we can make up whatever rules we want.
• 19:39
  We can throw you in whatever cage we want.
• 19:41
  So the president's been set on the privacy front.
• 19:45
  It seems to be literally the same rule in my opinion.
• 19:48
  You guys can tell me in the chat, am, am I crazy here?
• 19:51
  Am I seeing things that that is completely off base 'cause it
• 19:55
  sounds like they're saying the same thing, but they're making
• 19:58
  two different rules about this. Now, obviously the OCC is not
• 20:01
  the DOJ, so they're not the prosecuting wing.
• 20:04
  They're just making rules for the banks, etcetera.
• 20:06
  But. It sounds to me like when it
• 20:09
  comes from the OCC, when it comes to banks, as long as you
• 20:12
  don't actually custody that Bitcoin, then you're free in the
• 20:15
  clear. But when it comes to privacy
• 20:17
  software, if you facilitate coin joint, if you facilitate
• 20:23
  transactions and you don't custody it, you're still liable
• 20:27
  for it. Like you, you see, you see where
• 20:30
  the hypocrisy is coming. So that's kind of my like, I
• 20:33
  guess maybe you could say more nuanced take on this is like,
• 20:36
  yeah, OK, on the one hand, very cool, sounds very awesome.
• 20:41
  You know, bullish adoption of Bitcoin.
• 20:43
  We're going to the moon. Every bank in the US can now buy
• 20:46
  Bitcoin or rather sell Bitcoin or swap Bitcoin.
• 20:51
  You know, everyone now with their national regional bank,
• 20:54
  National Bank is going to get Bitcoin marketed to them.
• 20:57
  They're going to see it in their normal bank accounts.
• 21:00
  And maybe not tomorrow, but soon enough.
• 21:03
  Like, all right, awesome, totally cool.
• 21:06
  Hopefully more people actually buy Bitcoin.
• 21:08
  But when you kind of look at the hypocrisy of the laws here,
• 21:11
  you're like, OK, so if you guys never actually custody that
• 21:16
  Bitcoin, you're free and clear. But when a software that doesn't
• 21:20
  custody the Bitcoin has people using Bitcoin in a way that you
• 21:24
  don't like, now they go to jail for five years.
• 21:29
  It it's just like it. This is a crazy world we're
• 21:32
  living in. And it really goes into a
• 21:35
  greater theme I've had on the show, which is it does seem like
• 21:40
  on the one hand, Wall Street and of course nation banks and
• 21:44
  governments are adopting Bitcoin.
• 21:46
  They're bending the need to Bitcoin, but it really is
• 21:49
  setting up to have this like 2 tiered Bitcoin system.
• 21:54
  It's either Wall Street Bitcoin or as I like to call it recently
• 21:57
  captured Bitcoin or it's Bitcoin in self custody.
• 22:02
  That is, I think the battle going on right now.
• 22:04
  You are either self custodying your Bitcoin, you're either
• 22:06
  actually, you know, having control over your own Bitcoin or
• 22:11
  you're giving it up for these Wall Street products.
• 22:14
  And it, it's starting to get very interesting to see this
• 22:17
  play out. I think this is like the real
• 22:19
  attack going on where Wall Street is embracing Bitcoin.
• 22:24
  They're coming out here saying, hey, we're launching all these
• 22:26
  Bitcoin products. It's going to go to 150170K next
• 22:30
  year as long as you use it with us.
• 22:34
  To me, it's starting to show the game really.
• 22:38
  It's captured Bitcoin versus self custody Bitcoin, or rather
• 22:41
  maybe captured Bitcoin and self custody Bitcoin.
• 22:44
  Taking control of your Bitcoin is the real powerful Bitcoin
• 22:49
  Yes, you can get some benefits from Wall Street and you know
• 22:52
  like more kudos to you, but you need to have some Bitcoin under
• 22:56
  your control outside of the system because you're starting
• 23:00
  to see where this is probably going to head this.
• 23:03
  You're starting to see where the end goal is going Yes, on the
• 23:07
  one hand, on the federal level, they do seem to be embracing
• 23:10
  Bitcoin. On the Wall Street level, they
• 23:12
  seem to be embracing Bitcoin. But when it comes to prosecuting
• 23:17
  Bitcoiners, because maybe we're a little more hardcore, we're a
• 23:21
  little kind of outside of the box, they're going to do
• 23:24
  whatever they want to you. Again, it's starting to seem
• 23:28
  like there's a 2 tiered Bitcoin system, A2 tiered Bitcoin fork
• 23:32
  happening right now, captured Bitcoin and Bitcoin that you
• 23:35
  control in self custody. Hence why I always tell you
• 23:39
  guys, taking your Bitcoin into custody is the most important
• 23:43
  thing to be doing. Yes, you can, you know, get some
• 23:46
  Bitcoin exposure, you can get some gains, etcetera, etcetera,
• 23:50
  but the real power in all of this is taking Bitcoin under
• 23:55
  your control. I, I don't even really like the
• 23:57
  idea of self custody anymore. It, it seems too complicated.
• 24:00
  Like you tell people self custody, they're like, what the
• 24:02
  hell does that even mean? It's just like you need to
• 24:04
  control your Bitcoin. You need to be able to send that
• 24:08
  Bitcoin wherever you want, whenever you want and no one
• 24:11
  telling you what you can do with that Bitcoin.
• 24:13
  That's why I kind of like the idea of the main question going
• 24:17
  on right now in my head, in my opinion, from what I see is who
• 24:22
  actually controls Bitcoin? Not necessarily like the core
• 24:26
  knots debate that's been going on of like, you know, the core
• 24:29
  devs are controlling Bitcoin and you know, whatever, see Sam on
• 24:34
  the blockchain and you know, the legal implications of that.
• 24:37
  It's like, no, who has control over your Bitcoin?
• 24:42
  That is the battle going on. As we've seen throughout the
• 24:46
  history of humanity, it always comes down to who controls the
• 24:51
  money and by what mechanisms can they control it.
• 24:55
  Now we're seeing it start to kind of play out where yes, they
• 24:59
  are embracing Bitcoin, but they're only embracing it if
• 25:03
  they can control the Bitcoin. So look, buy Bitcoin wherever
• 25:06
  you want, in my opinion. I, I'm not going to, I'm not
• 25:09
  going to disparage you. If you buy Bitcoin from, you
• 25:12
  know, a shit coin exchange to me, whatever.
• 25:14
  As long as you actually buy the Bitcoin and take that Bitcoin
• 25:17
  into custody, that's all that really matters.
• 25:20
  You need to control the Bitcoin. The war that I've seen going on
• 25:24
  is who actually controls the private keys?
• 25:27
  Who actually controls that Bitcoin?
• 25:29
  Who signs off on sending the Bitcoin from point A to point B?
• 25:33
  If you got to ask someone to sign off on this, if you need a
• 25:37
  regulator's kind of approval to transact on Bitcoin, then
• 25:42
  you're, you're, you're kind of setting yourself up for failure.
• 25:45
  So big news, like, you know, the point remains the same.
• 25:50
  This is huge news. Every bank in America can now
• 25:55
  sell or buy and sell Bitcoin to their customers.
• 25:59
  Obviously, I think the implications worldwide are are
• 26:02
  going to start to manifest very soon.
• 26:05
  Again, whether you like the US or you don't, America does lead
• 26:10
  the world and not only just culture, but finance.
• 26:13
  And so when we do something here in the US, it will have ripple
• 26:17
  effects around the world. This is game theory in action.
• 26:20
  This is playing out in real time.
• 26:22
  Yes, they're embracing it. Yes, other nations will most
• 26:26
  likely embrace it, but the real, real war in my opinion is who is
• 26:31
  actually controlling that Bitcoin?
• 26:33
  Do you control that Bitcoin? Can you send that Bitcoin
• 26:35
  wherever you want? Can you send that Bitcoin
• 26:37
  outside of business working hours, outside of nine to five?
• 26:41
  If that is not the case with the Bitcoin you have, then you
• 26:44
  really got to make some moves and you really got to figure
• 26:46
  out, OK, I need to learn self custody.
• 26:49
  I need to be able to take my money out of the system.
• 26:53
  I need to be able to transact when and where I want with this
• 26:57
  Bitcoin. I think this is the war we've
• 26:59
  been seeing. I've been seeing this happen all
• 27:02
  year long. At first you do kind of get, you
• 27:05
  know, you, you get enthusiastics like, all right, the
• 27:07
  institutions are here, they're going to finally pump our bags.
• 27:10
  But since they never pumped our bags here, you're you start to
• 27:13
  wonder, you're like, OK, like what?
• 27:15
  Where are the attacks coming from?
• 27:17
  And I think Wall Street is trying to Co-op Bitcoin in the,
• 27:20
  in that sense, they want to get in the middle of you and your
• 27:23
  money, you and your Bitcoin. Again, one of the big narratives
• 27:27
  that that we've been we've been seeing forever is this idea of
• 27:30
  like, Hey, we are the banks. We've held onto your money for
• 27:34
  hundreds of years. We're the ones that you need to
• 27:36
  trust. We're the ones you can trust
• 27:38
  with your money. Don't trust yourself with your
• 27:40
  money. Like what kind of idiot is that?
• 27:43
  Trust us with our federally insured bank accounts, federally
• 27:48
  insured Bitcoin accounts here. And if, if any, if you ever hurt
• 27:52
  yourself, you know, we got your back man.
• 27:54
  And I think that that is, I think that's what's going on
• 27:59
  currently. So I don't want to keep
• 28:01
  repeating myself, but the banks are here, U.S. banks here, every
• 28:05
  U.S. bank here is now officially in Bitcoin, which is exactly
• 28:09
  what Sailor said yesterday at Bitcoin MENA.
• 28:12
  It's like I've had conversations with all the biggest sovereign
• 28:15
  wealth funds, hundreds of hedge fund owners, all the big banks,
• 28:20
  and they're all trying to find ways to get into Bitcoin.
• 28:23
  Now the red tape is completely been slashed.
• 28:26
  So I wouldn't, I wouldn't be surprised if we see even more
• 28:29
  news coming out of banks. And we've been seeing this
• 28:31
  happen the last couple of weeks. It seems like every other day
• 28:33
  there's a new bank, There's something going on with the
• 28:35
  banks and Bitcoin. And now it's officially out.
• 28:39
  And it does remind me of one of the things Sailor said back in
• 28:42
  the day, back in the day by 2020, he's like once, once we
• 28:48
  get, you know, the law is favorable and all the banks
• 28:51
  being able to custody Bitcoin, that's when we start ripping to
• 28:54
  like 5 mil. I forget what the numbers were,
• 28:57
  but we're at that point. It's official, 100% official.
• 29:00
  They can get into Bitcoin. We'll see what happens.
• 29:04
  I guess that's the T the TLDR to all of this.
• 29:08
  Let's Opti go chart boy. No, no, no chart boy today.
• 29:11
  Well, yeah, no, no, no chart boy.
• 29:13
  I don't have any chart boy for you guys.
• 29:16
  All right, guys. Yes.
• 29:17
  As you can tell, I am doing the show solo today.
• 29:20
  Niko. Niko's being lazy on me, guys.
• 29:23
  He's he's dude. I'm, I'm, I'm about to fire him.
• 29:25
  He's fired. He's fired from the show.
• 29:27
  This is the Opti show. Simply Opti show now no, no, he
• 29:31
  he had a meeting he had a meeting anyways, before I move
• 29:34
  on, I do want to tell you remind you guys smash the like button
• 29:38
  comment on the show. Let me know what you guys think
• 29:40
  about it and of course hit the subscribe button guys.
• 29:42
  We drop the best content, the most content and you know you
• 29:46
  you got to know when I go live every day, especially when I'm
• 29:49
  jacked up on five cups of coffee in the morning and I'm sweating
• 29:52
  in the studio 'cause it's getting crazy over here.
• 29:55
  This this year's been brutal. Anyways, before I move on, big
• 29:59
  shout out to our boys over at Bitcoin.
• 30:02
  Well, go to bitcoinwell.com/simply Bitcoin
• 30:07
  and make sure you are buying Bitcoin the best way possible,
• 30:11
  which is self custody by default.
• 30:13
  They have never lost Bitcoin. They will never lose Bitcoin
• 30:15
  because they never hold your Bitcoin.
• 30:18
  So exactly what the banks are just trying to do.
• 30:21
  It's like, hey guys, we, we don't actually hold this
• 30:23
  Bitcoin. So now we can actually do it.
• 30:27
  They don't do that. Once your money goes through, it
• 30:30
  goes directly into your cold storage, which yes, you need to
• 30:33
  have a Bitcoin wallet when you sign up because they, they don't
• 30:38
  want to. They basically want to deliver
• 30:40
  every Bitcoin, every SAT that's ever been bought on Bitcoin.
• 30:44
  Well, to their customers. This is why we love them.
• 30:47
  This is why they're our boys. This is why we partnered with
• 30:51
  them because they will never lose a SAT because they never
• 30:55
  hold that Bitcoin. It goes directly to you.
• 30:57
  So scan the QR code here and when you sign up, you do get
• 31:00
  three chances to win a million sets when you go partake in the
• 31:03
  Bitcoin wishing well. I don't think anyone has won the
• 31:06
  million sets yet. So you know they they got a
• 31:09
  dude, they got a rig that in my favor.
• 31:11
  What's going on Adam, Give me give me the million sets.
• 31:13
  All right guys, anyways, I'll be right back after this commercial
• 31:16
  interesting news coming out of Coinbase.
• 31:19
  I forget what this guy, I think he's one of the head Coinbase
• 31:23
  advisors. I, I forget, maybe I'll look it
• 31:26
  up on the break. But he said some interesting
• 31:28
  stuff about what's going on in Europe, which really does kind
• 31:30
  of lean into my, my theme here that what America does is
• 31:34
  starting to make waves around the world.
• 31:36
  And even though you're up, the EU in particular has been
• 31:39
  fighting Bitcoin trying to launch their CBDC.
• 31:44
  There might be some more bending the knee.
• 31:45
  And then we got an update on sailor strategy war with the
• 31:50
  MSCI. They dropped a letter about it.
• 31:52
  And to wrap up the show today, we are going to get potentially
• 31:58
  fed rate cuts so that I don't think I'm I might be on the show
• 32:02
  long enough to announce that we'll see we'll see if I can I
• 32:05
  can ramble for another hour and what what we might do it live.
• 32:10
  All right, be back in one second.
• 32:19
  I want to give a shout out to our partner Stamp seed.
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• 33:32
  Oh sorry guys, you guys are cracking me up in the chat.
• 33:34
  All right. The current Bitcoin price is
• 33:37
  $92,360.00 per Bitcoin, which is a -26.8% decline from all time
• 33:44
  high. Or flipped another way, a 26%
• 33:48
  discount on Bitcoin. The current market cap is 1.84
• 33:51
  trillion. Still struggling to get above 2
• 33:54
  trillion and the only time that matters Bitcoin block height
• 33:57
  927,299 TikTok next block. Okay so I saw this interesting
• 34:04
  clip here chat with the Bitcoin magazine for posting it and
• 34:07
  Coinbase is John d'agostino. Damn, I, I can't speak today.
• 34:16
  De Gostino. De Gostino, I think it's de
• 34:18
  Gostino. He's actually head of strategy
• 34:20
  for Coinbase intern institutional.
• 34:23
  So he says more Eurozone countries will follow the Czech
• 34:26
  Republic and buy Bitcoin. Remember what the Czech Republic
• 34:30
  did? They announced a Bitcoin buy.
• 34:32
  They also limited capital gains tax on Bitcoin if you hold it
• 34:36
  for I believe it was over three years.
• 34:38
  This is what he said yesterday. It is pretty interesting.
• 34:42
  Again, I did make the case last week, I believe, believe it was
• 34:47
  last week that we are starting to see an interesting trend in
• 34:52
  Europe. And that is that as as much as
• 34:55
  the ECB and the EU are trying to really force everyone into the
• 35:01
  Mika laws, which really aren't that beneficial for the, the,
• 35:05
  the users of Bitcoin, it's actually kind of more of a
• 35:08
  detriment. We are starting to see this
• 35:11
  trend. And maybe I'm seeing into
• 35:12
  things, but this is kind of the vibe that I'm getting this kind
• 35:16
  of what I'm seeing come down the pipeline is it does look like we
• 35:20
  are starting to see a break from the ECB Mika law standard.
• 35:26
  It looks like countries are looking at this and they're
• 35:29
  essentially, they haven't officially said this, but it,
• 35:32
  it's essentially them saying like, yo, if we want to maintain
• 35:36
  even being close in the race to what the US is doing, these Mika
• 35:41
  laws are really a, a hindrance on our countries.
• 35:45
  Obviously, it's not particularly Christine Lagarde going out
• 35:50
  there and being like, all right, we completely scrapped this, but
• 35:53
  a lot of countries are kind of moving away from these Mika laws
• 35:56
  and starting to announce that, hey, we actually do like
• 35:58
  Bitcoin. And remember, one of the big
• 36:00
  things that happened around when the Czech Republic came out and
• 36:04
  was so pro Bitcoin, Christine Lagarde was like, no, I've
• 36:07
  talked to all the Eurozone members.
• 36:10
  I talked to everyone in the EU, and I can very confidently tell
• 36:13
  you that no one is going to buy Bitcoin.
• 36:17
  Well, maybe Christine Lagarde's chokehold is not as strong as
• 36:22
  she likes to kind of propagandize because it seems
• 36:26
  like we might be getting something else down the
• 36:28
  pipeline. So let's listen to this clip
• 36:30
  real quick and then I will speculate a little bit.
• 36:34
  Czech National Bank starting to test starting, I don't know.
• 36:41
  So I, I don't know what I'm allowed to say, but but the
• 36:43
  Czech National Bank chose very well in their service providers.
• 36:47
  I will, I will give them, I will give them kudos for who they
• 36:49
  chose for their service providers.
• 36:51
  And the fact that an Eurozone central bank is taking on, you
• 36:58
  know, it's a small amount, it's $1,000,000 of Bitcoin, but
• 37:00
  they're putting Bitcoin on their National Treasury and they are
• 37:04
  experimenting with and learning in real time using Bitcoin for
• 37:08
  payments. That, that is big.
• 37:12
  That I mean, no, no disrespect to El Salvador, no disrespect to
• 37:16
  some of the other countries that have chosen to do it.
• 37:19
  This wasn't AI want to shake up my economy.
• 37:22
  And, and because I'm heading in the wrong direction and I want
• 37:24
  to, I want to pivot using, using Bitcoin as a, to some degree
• 37:28
  speculative tool that, that I admire that decision on behalf
• 37:31
  of El Salvador. But this is, we are a stable
• 37:34
  Eurozone country. We, we don't have to do this.
• 37:37
  We have access to the EU window. We, we have access to EU borrow.
• 37:41
  But we are going to go through all the bells and whistles, do
• 37:45
  do the RFP, choose the vendors and we are going to make it
• 37:48
  national policy to begin to experiment with this asset.
• 37:53
  That type of thing is contagious and I can see more Eurozone
• 37:57
  companies following suit very, very shortly.
• 38:01
  Well, I think he kind of misspoke at the end.
• 38:02
  That's, that's my take. He started off with Eurozone
• 38:05
  countries and then he said Eurozone companies.
• 38:08
  Maybe he didn't miss misspeak there.
• 38:11
  But as, as you kind of heard in the beginning, he's like, look,
• 38:16
  I can't really say too much, which really makes you wonder
• 38:20
  that this is probably already happening.
• 38:22
  You know, maybe they haven't fully announced their Bitcoin
• 38:25
  buys, but they are preparing to do these quote test programs
• 38:29
  here. So it sounds like we're going to
• 38:32
  see more European countries start to kind of fall away from
• 38:37
  the ECBS pro CBDC movement, start to embrace Bitcoin, which
• 38:43
  really makes you wonder. And it kind of goes back to the
• 38:46
  initial theme of how can they Co-op Bitcoin?
• 38:50
  And that's who controls the keys of Bitcoin again, the ECB.
• 38:55
  They've been saying they're going to drop a CBDC for years
• 38:58
  now. They say, hey, it's around.
• 39:00
  It's right around the corner. The last time they said that was
• 39:03
  October. It's going to it's ready in
• 39:05
  October. And then in October, they
• 39:07
  announced, yeah, it might be ready by 2027.
• 39:10
  It does seem to be a little too little too late on that front.
• 39:14
  And maybe this is what countries in the eurozone are seeing.
• 39:19
  They're like, OK, look, I know the ECBI know Christine Lagarde
• 39:22
  has been very adamant about a CBDCA, European CBDC to unite
• 39:26
  the eurozone. And, you know, we all have one
• 39:29
  language here, but I'm starting to see that there might be some
• 39:34
  dissent here. There might be people realizing
• 39:36
  like, if we do not adopt this thing, if we do not figure out
• 39:40
  how to use this thing, we are going to get cooked.
• 39:44
  And what, what is interesting about that clip is when he's
• 39:48
  talking about the El Salvador stuff.
• 39:49
  And I, I really enjoyed that because look, if we're being
• 39:52
  honest here, I love El Salvador. I love what Naive Buckele did.
• 39:56
  I think El Salvador will fundamentally throughout the
• 40:00
  history of Bitcoin, be the First Nation to adopt Bitcoin.
• 40:05
  You can never take that away from them.
• 40:07
  But I think the point that he said which which I might
• 40:11
  actually differ a little bit, but where he said look a a big
• 40:15
  European country. Adopting Bitcoin has way more of
• 40:19
  an impact than El Salvador doing it and just looking at the
• 40:22
  numbers, don't freak out at me. I know there's a lot of El
• 40:25
  Salvador Bitcoin lovers. I love El Salvador.
• 40:28
  I I love what the project Apple Kelly is doing.
• 40:30
  But we got to remember El Salvador's GDP is $32 billion.
• 40:34
  I repeat, $32 billion. It's not that big.
• 40:37
  It's not a big country. Yes, it put it on the map, but
• 40:41
  once we see a a big first world country in Europe like Czech
• 40:46
  Republic is is no, no small feat.
• 40:48
  But again, you know, they did just like a $1 million Bitcoin
• 40:51
  buy. But once we see one of the heavy
• 40:53
  hitters, in my opinion, come out and be like, yeah, we're we're
• 40:56
  going to go full pro Bitcoin. I think they chokehold that
• 40:59
  Christine Lagarde the ECB has is really going to start to crumble
• 41:03
  and you're really going to see the dominoes fall very quickly.
• 41:06
  So if we see something happen and it could be a 2026, most
• 41:10
  likely in 2026, we'll get we'll get another big announcement.
• 41:13
  It's going to be interesting if it happens very early in 2026 or
• 41:17
  late in 2026. I think the game's being
• 41:21
  fundamentally shifted right now, which goes back to the things I
• 41:24
  said in the beginning show segment of the show.
• 41:27
  What the US does, even though Europe fights big or sorry, even
• 41:31
  though Europe is is so against whatever Trump and America does,
• 41:38
  they are being forced to adopt Bitcoin.
• 41:40
  It's really like the idea that Bitcoin will be adopted like
• 41:43
  gunpowder. It's a Mexican standoff.
• 41:45
  If you do not adopt Bitcoin, you are literally hurting yourself,
• 41:50
  your country. You have to adopt it.
• 41:52
  You have to you have to be a quick mover on this.
• 41:56
  If someone beats you to the punch, they can potentially take
• 42:00
  all of the marbles here. And I think this is what we're
• 42:03
  seeing right now. I think the game theory on the
• 42:05
  nation state level, even on a central bank level is starting
• 42:09
  to really play out. They cannot keep doing what
• 42:12
  they've been doing. Yes quote UN quote Operation
• 42:16
  Choke .2 point O has ended. So it was OK.
• 42:20
  It was very kosher for everyone to fight Bitcoin.
• 42:23
  Now, if you fight Bitcoin, you will lose not only will you lose
• 42:27
  your your seat, your position, but you're going to lose your
• 42:31
  position in the world Now I know that's a bit hyperbolic.
• 42:34
  I know it's a little early to be saying that, but I think it's
• 42:37
  starting to become very true yes, we are in the early stages
• 42:42
  of Bitcoin going, you know hyper Bitcoin, but you cannot stand on
• 42:49
  the sidelines anymore. You have to make a move.
• 42:51
  The only winning move is you have to participate.
• 42:55
  If you don't, you're going to get left behind.
• 42:57
  That's my take. I'm holding to it.
• 43:00
  That's all I got to say here. Let me delusional perma bulls.
• 43:04
  Yes, literally 100%. Dude caught with caught with red
• 43:12
  hand. Yes, 100%.
• 43:16
  Oh my God, you guys are funny. You guys are funny.
• 43:18
  OK, let's see. I actually suddenly predicted
• 43:22
  that a major year. Yeah, yeah, 100%.
• 43:27
  Look, I'm not the biggest on legal tender status personally,
• 43:32
  but it is happening a lot quicker than I also imagined.
• 43:36
  I thought it was going to take a couple of years.
• 43:38
  It literally, guys, I think this is one of the things that we
• 43:42
  really fundamentally kind of underestimate or really maybe,
• 43:47
  you know, don't talk about too much, but in one literal year,
• 43:51
  one year actually, what, 11 month and some days actually, I
• 43:55
  guess you could say it's been more than a year.
• 43:58
  No, no, no, no. We'll say less than a year.
• 44:02
  How quickly has the narrative around Bitcoin shifted?
• 44:08
  It's it's shifted on a dime. And remember what I've been
• 44:11
  telling you guys for a while, it's like these big
• 44:13
  institutions, they move like the Titanic.
• 44:15
  They moved a lot quicker than you.
• 44:17
  Then you kind of expect them to move you.
• 44:20
  You thought they would sit on their hands.
• 44:21
  You think they would kind of, you know, delay these things.
• 44:24
  But it really does kind of exaggerate, maybe not
• 44:30
  exaggerates, right, where it really kind of does exemplify
• 44:35
  how powerful the game theory is, which really goes into what I've
• 44:39
  been telling you guys or what is kind of my idea here is you
• 44:43
  cannot underestimate the people in power.
• 44:45
  They're not as dumb as we all make them out to be.
• 44:48
  They have a lot to lose here. And they're making moves very
• 44:52
  quickly to position themselves so that they can maintain
• 44:55
  control, so they can maintain their wealth.
• 44:58
  I've been kind of, I don't know if I've said this on the show,
• 45:01
  maybe it's a hot take. It really isn't, but I've been,
• 45:04
  I've been off air kind of joking and I no, I've said on the show
• 45:09
  that I think the people that need Bitcoin the most currently
• 45:14
  are the very people that we are trying to disintermediate.
• 45:18
  If you are in the position of being close to the money
• 45:21
  printer, close to the Cantalon effect, if you are seeing what's
• 45:24
  going on in the system and if we're seeing it correctly, which
• 45:28
  is I'm not going full doomer. But if there are cracks in the
• 45:31
  system and you start to realize that, wow, you know, so my
• 45:35
  influence, my power, my control, my status is at jeopardy here.
• 45:40
  If this thing blows up, they need an asset just like this.
• 45:45
  They need Bitcoin just as much, if not more than anyone else.
• 45:48
  It's like, yeah, you know, I know Nico makes fun of me
• 45:51
  because I said something similar to like, I didn't actually say
• 45:54
  this. OK, so don't quote me on this,
• 45:56
  but he was joking and saying that I said something on the
• 45:59
  lines of like Opti's, like against the middle class or
• 46:01
  something. I'm like, no, that's not what
• 46:03
  I'm saying. All I'm saying is if you have a
• 46:06
  lot of wealth in the traditional financial system, in the Fiat
• 46:10
  system, and you are seeing what we're seeing and we're seeing
• 46:13
  this with sober eyes, then you have a lot more to protect.
• 46:17
  If you have nothing, if you have 0 money, you, you could probably
• 46:22
  keep doing what you're doing. But if you have a lot of wealth
• 46:24
  and you're trying to protect it, to me it seems like there's only
• 46:28
  one way to protect that. Now this isn't me, you know,
• 46:31
  hating on, on, you know, lower middle class people lower, you
• 46:35
  know, lower income people. I'm just saying if you have a
• 46:38
  lot of wealth and, and if what we're seeing is correct, then
• 46:42
  you have a lot more to protect and you have more of an
• 46:45
  incentive to figure out whether this Bitcoin thing is actually
• 46:48
  what we all say it is. It's all I've been saying, guys.
• 46:51
  So, you know, true. You need a hard asset of some
• 46:56
  sort. Yes, 100%.
• 46:59
  OK, guys, I'll be right back. We're going to cover Sailor's
• 47:03
  response to MSCI. I want to give a shout out to
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• 49:40
  We are back. You know off topic.
• 49:43
  I should have probably taken a six coffee because crashing now
• 49:47
  anyways, anyway, so maybe actually maybe I need to do a
• 49:53
  little context. Remember, if you're kind of new
• 49:56
  to show you're not that obsessed with Bitcoin news, you're not
• 50:01
  hanging out on Twitter as much as we are.
• 50:05
  There was a saga a couple of weeks ago.
• 50:06
  It's actually still been kind of ongoing where JP Morgan took a
• 50:11
  40 day old report. They funded strategy, which they
• 50:15
  essentially use this old report to put doubts on strategies
• 50:21
  business model. You know what's going on.
• 50:24
  They they said, hey, look at these MSCI rule changes.
• 50:27
  It's going to potentially hurt strategy.
• 50:31
  It's not a good look for strategies.
• 50:32
  Basically JP Morgan, you know, Jamie Downs, like, hey, you know
• 50:34
  what do I know? This isn't a good look for
• 50:36
  strategy. And then literally like the day
• 50:38
  after, I believe maybe it was, maybe it was the following week.
• 50:42
  I forget. I'm I'm losing track of time
• 50:44
  over here. I'm I'm going crazy over here,
• 50:46
  guys, I'm literally going crazy. Don't remember days anymore, but
• 50:50
  they basically said, hey, strategy might be in trouble.
• 50:53
  Look at these rule changes not looking good for for strategy,
• 50:57
  not looking good for Bitcoin. And then shortly after they
• 51:01
  launch basically a strategy copycat note structure.
• 51:06
  Essentially they're like, look, the strategy thing is bad.
• 51:10
  I wouldn't touch it with a 10 foot pole, but hey, maybe, maybe
• 51:14
  this Jamie JP Morgan version is something you'll like.
• 51:18
  And then the price kind of dumped and literally on
• 51:21
  essentially a local bottom at ADK, JPMorgan announces his
• 51:25
  strategy copycat and they're like, but look, the strategy
• 51:28
  one's bad, but maybe this JP Morgan ones good.
• 51:32
  And then it all came out that or JP Morgan had a huge short on
• 51:36
  strategy. They announced a Bitcoin product
• 51:39
  that essentially the the last bought local bottom.
• 51:43
  This report was 40 days old and you're like, what, what in the
• 51:47
  what in the world of manipulation are we seeing
• 51:51
  playing out right now? You know, Sailor came out and
• 51:53
  said, like, doesn't bother me. We're unaffected, doesn't
• 51:58
  matter. He did kind of, you know, a
• 52:00
  little bit of Twitter PR basically saying this doesn't
• 52:04
  affect us, yadda, yadda, yadda. And now they did like a full
• 52:08
  press release on it. So here is the first like kind
• 52:11
  of the initial kind of takeaways.
• 52:13
  I might read a little bit of the of the article or sorry, the
• 52:17
  press release, but this is basically the overall here.
• 52:20
  So strategy's response to MSC is proposed digital asset treasury
• 52:25
  exclusion. So MSCI proposes to exclude
• 52:28
  digital asset treasuries or Dats like strategy from MSCI global
• 52:33
  investable market indexes. We strongly disagree with MSCI
• 52:37
  proposal for the following reasons.
• 52:39
  One, digital asset treasuries are operating companies, not
• 52:42
  investment funds. 2, The proposals digital asset specific
• 52:46
  50% threshold is arbitrary, discriminatory and unworkable. 3
• 52:52
  The proposal improperly injects policy considerations into
• 52:55
  indexing and for the proposal conflicts with U.S. policy and
• 52:59
  would stifle innovation. We ask MSCI to revoke its
• 53:03
  proposal. Please voice your support by
• 53:05
  registering below and sharing our letter on Twitter and
• 53:09
  LinkedIn. So that's the basic overview.
• 53:12
  I will read a little bit of this just I guess because why not?
• 53:17
  Anyways, they wrote in response to MSCI invitation for feedback
• 53:20
  on his proposed eligibility test for their global investable
• 53:24
  market indexes, which would exclude all companies whose
• 53:26
  digital asset holdings represent 50% or more of total assets.
• 53:31
  Strategy believes it's combination of operational
• 53:34
  excellence, strategic Bitcoin reserve and focus on
• 53:37
  technological innovation positions the company as a
• 53:40
  leader in both the digital assets and enterprise analytics
• 53:44
  sectors, offering a unique opportunity for long term value
• 53:48
  creation. Strategy understands and
• 53:50
  supports MSCI efforts to implement consistent eligibility
• 53:54
  standards across it's indices. But MSCI proposal to exclude
• 53:57
  companies whose balance sheets consist of more than 50% digital
• 54:00
  assets is misguided and would have profoundly harmful
• 54:04
  consequences, as explained below and here you know where they
• 54:09
  they do try to differentiate themselves, but that's or.
• 54:14
  Digital asset treasuries are operating companies, not
• 54:16
  investment funds. Most fundamentally, the proposal
• 54:20
  rests on a mischaracterization of the business models of
• 54:23
  digital asset treasuries. Like Strategy.
• 54:25
  Strategy is not an investment fund and does not passively hold
• 54:29
  Bitcoin. Strategy is an operating
• 54:32
  business that actively uses the Bitcoin it holds to create
• 54:35
  returns for shareholders. Today, Strategy provides novel
• 54:39
  Bitcoin back digital credit instruments analogous to those
• 54:42
  historically offered by banks and insurance companies.
• 54:45
  And strategy, unlike an investment fund, retains the
• 54:48
  operational flexibility to adapt its value creation strategies.
• 54:52
  As the revolutionary technology underlying Bitcoin evolves, the
• 54:57
  operational that operational flexibility is what strategies
• 55:00
  investors value and is what distinguishes strategy from
• 55:04
  digital asset investment funds. That strategy and other digital
• 55:07
  asset treasuries invest in a single asset class makes them no
• 55:11
  different from REITs or Reit's or oil companies.
• 55:15
  MSCI does not classify those businesses as an investment
• 55:19
  funds and that should be treated no differently.
• 55:23
  I think that's the big kind of take away here, but I'll read a
• 55:26
  little more. The proposal digital asset
• 55:27
  specific 50% threshold is discriminatory, arbitrary and
• 55:31
  unworkable. The proposal 50% rule
• 55:33
  arbitrarily singles at digital asset businesses for uniquely
• 55:36
  unfavorable treatment while leaving untouched businesses and
• 55:40
  other industries such as oil, timber, gold, media and
• 55:43
  entertainment and real estate that have similarly concentrated
• 55:46
  holdings in a single asset type. And there's no way to implement
• 55:50
  the proposed 50% rule consistently or fairly.
• 55:53
  Asset price swings, changes in the application of accounting
• 55:55
  principles, and other factors relevant to balance sheet
• 55:58
  accounting would lead to index instability.
• 56:01
  As Digital Asset Treasuries whipsaw on and off MSC IS
• 56:04
  indices MC, I would need to develop novel metrics and
• 56:07
  methods for measuring balance sheet concentration and
• 56:11
  monitoring circumvention. So again, TLDRMSCI should not
• 56:16
  implement a role that will lead it to be consistently auditing
• 56:19
  companies under arbitrary, inconsistent and evolving
• 56:23
  standards. And then this obviously leads to
• 56:25
  it improperly inject policy considerations into indexing.
• 56:29
  Now, I am no legalese expert, you know, I'm no Wall Street
• 56:36
  Tradfi expert, but this does sound like a, you know,
• 56:41
  metaphorical kill shot here. I think it's really showing that
• 56:46
  the whole kind of move from MSCI to potentially pull, you know,
• 56:53
  disregarding strategy because they have this concentration of
• 56:55
  50% of Bitcoin. I, I really do think it, it
• 57:00
  exposes this as not just a political move, but an
• 57:04
  ideological move against Bitcoin.
• 57:07
  I think it's one of those like they're scared moments.
• 57:09
  And obviously the fact that JP Morgan rolled this out about a
• 57:13
  month and 1/2 after it was actually proposed as it's really
• 57:17
  bad thing just kind of shows you the manipulation tactics, if you
• 57:22
  will, coming from Wall Street. They are playing for all the
• 57:26
  marbles. They, you know, they're, they're
• 57:28
  not playing fair, quote UN quote.
• 57:29
  And I don't even like the idea of playing fair because we are
• 57:33
  talking about Wall Street. We are talking about Wall Street
• 57:35
  greed. We are talking about, for lack
• 57:37
  of better terms, you know, capitalism as its finest.
• 57:40
  Though I, I would venture to argue that it's we're really not
• 57:44
  in a capitalist system, but that that's whatever.
• 57:46
  That's a total other conversation.
• 57:48
  And I'm not here to like nitpick around it.
• 57:50
  But it does show you that the only reason they are even
• 57:55
  talking about this is because of Bitcoin.
• 57:58
  They don't do this for any other commodities company, whether
• 58:01
  that's oil, lumber, you know, anything as as it was stated
• 58:05
  here. What what did it say here?
• 58:07
  It said you don't do this in other industries as oil, timber,
• 58:10
  gold, media, entertainment, nor real estate.
• 58:13
  But since it's Bitcoin, since they really don't want people to
• 58:17
  either adopt Bitcoin, use Bitcoin, they don't want this to
• 58:21
  get out of the gate. They're making this as like some
• 58:24
  kind of big red, you know, target on any of these digital
• 58:30
  asset treasury companies. Now I am not sorry, I am not the
• 58:37
  biggest digital asset treasury or Bitcoin treasury.
• 58:40
  I don't even like the word digital asset.
• 58:42
  I'm not the biggest Bitcoin treasury guy.
• 58:45
  I'm, you know, I, I jokingly said that I should have bought
• 58:47
  it when it was going like 15X and now I feel OK about not
• 58:51
  buying it. But dude, if MicroStrategy is
• 58:55
  bottoming out now, I need to figure it out again.
• 58:57
  So anyway, it was totally different conversation, but it
• 59:02
  does look like they are singling out the Bitcoin industry because
• 59:05
  one, as I said earlier, they want to be the ones that can
• 59:10
  profit off of Bitcoin. They want their Wall Street
• 59:12
  products to be the only ones in the market, but they're way too
• 59:18
  late to this. I don't think any company can
• 59:20
  really catch up to what Michael Saylor did.
• 59:23
  He had a five year head start. He's damn near about to get a
• 59:26
  million Bitcoin under his company treasury.
• 59:30
  I think this is one of those moves where JP Morgan came in
• 59:33
  and they tried to handicap strategy and sailors ability to
• 59:37
  stack more Bitcoin because they were launching a product.
• 59:40
  And I think it's becoming very obvious that they're, you know,
• 59:42
  JP Morgan is using their minions or Wall Street is using their
• 59:45
  minions to kind of scare people away from buying Bitcoin
• 59:49
  treasury companies, which and personally, I probably wouldn't
• 59:52
  do unless you have money in Tradfi and it's hard for you to
• 59:55
  get out of Bitcoin, then that's a great alternative.
• 59:58
  But it really is, as they said, a political and ideological move
• 1:00:02
  here. They wanted to handicap Bitcoin
• 1:00:04
  treasury companies because I think they know that what Sailor
• 1:00:09
  is doing right now, it really does throw a wrench into their
• 1:00:14
  traditional business models. And as Sailor said, and I
• 1:00:18
  actually, I didn't even think about this, but.
• 1:00:21
  I forget who it was someone was trolling me in the chat the
• 1:00:24
  other day and they're like, yo, you know, saying that strategy
• 1:00:29
  is doing the same thing as like the Bank of England is really
• 1:00:32
  not a good analogy here. Opti like, you know, one of the
• 1:00:36
  one of the worst banks ever like you, you probably shouldn't say
• 1:00:40
  that. Yeah, whatever.
• 1:00:41
  But you know, strategy said it themselves.
• 1:00:44
  So you know 42 IQ for the win here.
• 1:00:46
  Today's strategy provides novel Bitcoin back digital credit
• 1:00:49
  instruments analogous to those historically offered by banks
• 1:00:52
  and insurance companies. Guys, I literally, I literally
• 1:00:56
  said the same thing. What strategy is doing is no
• 1:00:59
  different than what normal banks are doing right now that this is
• 1:01:03
  all they do. They, you know, get an asset
• 1:01:07
  depending on what the asset is, take out some debt, try to buy
• 1:01:12
  more of that asset. That's what they do.
• 1:01:16
  This is, this is probably one of the reasons why they are so
• 1:01:19
  scared. They're like, damn, our business
• 1:01:22
  model just got exposed and he's doing it with this thing that
• 1:01:26
  potentially goes up, you know, 30% kegger every year going up
• 1:01:30
  forever, probably going to go to a million plus.
• 1:01:33
  There's only 21 million of this thing.
• 1:01:36
  I, I think they are really scared right now.
• 1:01:38
  This is like the they're scared meme right now.
• 1:01:41
  Like, aw, how cute. They're scared right now.
• 1:01:44
  I think the game's being totally exposed.
• 1:01:46
  They're they're, maybe it's 'cause I'm biased.
• 1:01:48
  Maybe it's 'cause I'm a Bitcoiner.
• 1:01:50
  Obviously I have a bias against these companies, these banks,
• 1:01:54
  these institutions, because I am a Bitcoiner.
• 1:01:57
  But I think it really does expose the game being played
• 1:02:00
  right now. They are terrified of Bitcoin
• 1:02:02
  getting out there. They don't want people using
• 1:02:04
  Bitcoin directly. They don't want to see Bitcoin
• 1:02:07
  products built that will essentially, you know, take away
• 1:02:11
  from their business products like this is how competition
• 1:02:15
  plays out. This is that then they fight you
• 1:02:17
  stage and they're pulling out every dirty trick they can.
• 1:02:20
  Whether you think it's dirty or just, you know, what all is fair
• 1:02:23
  and, and love and war, War here is business.
• 1:02:27
  In my opinion, I always like to think of business kind of as
• 1:02:30
  war. It's it's a proxy for not going
• 1:02:33
  to war. I think this is what's happening
• 1:02:36
  and it, I think it's becoming very clear that this is what's
• 1:02:38
  happening, which really just makes me think as much as, as
• 1:02:42
  much as they want to say Bitcoin is, you know, metaphorically
• 1:02:45
  dead, like this time's for real. I, I think, I think it really
• 1:02:50
  says the opposite. Like Bitcoin is for real.
• 1:02:53
  Bitcoin is the thing that terrifies them.
• 1:02:56
  I'm not one of these guys that's a Bitcoiner that says, oh, these
• 1:03:00
  people are dumb. They don't understand Bitcoin.
• 1:03:02
  This is why they always talk bad about Bitcoin.
• 1:03:04
  They, they, they haven't done the 40 hours a week of podcasts
• 1:03:07
  and they haven't read the 10 books about Bitcoin.
• 1:03:11
  I don't think that's the case at all.
• 1:03:12
  I think they know exactly what Bitcoin is, what it does, and
• 1:03:16
  they're trying to do whatever they can so that more people
• 1:03:18
  don't use it. That's my view on this.
• 1:03:21
  I, I think it's, you know, I've laid it out all year long.
• 1:03:25
  I think as more information comes out, it's becoming very
• 1:03:27
  obvious. They know exactly what Bitcoin
• 1:03:29
  is and they know exactly what it will do, but very publicly they
• 1:03:33
  have to go out and kind of play dumb not and and basically not
• 1:03:37
  give any cent to retail out there that they should probably
• 1:03:41
  own this thing. They're going to fight this till
• 1:03:43
  the death. Yes, they're kind of embracing
• 1:03:45
  it. They really don't want to see
• 1:03:46
  Bitcoin win. That's, that's my, that's my
• 1:03:49
  take on this. OK, 11 minutes to rate cut.
• 1:03:53
  All right, I might, I, I think I'll stay, I'll stay on, I'll
• 1:03:59
  stay on for 11 minutes. I'll, I'll stay on.
• 1:04:01
  So one more commercial break and then I'll kind of chat about the
• 1:04:04
  odds and then we'll kind of bullshit a little bit.
• 1:04:06
  And I, I should, I should be on for another 11 minutes.
• 1:04:09
  So what, what we'll, we'll cover it live.
• 1:04:12
  And hey guys, actually, maybe it was wrong.
• 1:04:15
  Maybe we will get a one minute chart on today.
• 1:04:17
  So all right, I'll be right back.
• 1:04:22
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  freedom. All right, guys, before I go on,
• 1:06:21
  I do like this comment here from Chef Tommy goes to me strategy
• 1:06:26
  is showing the world how much debt that Triadfi uses to keep
• 1:06:29
  control. I think that I think that's a
• 1:06:32
  pretty good take because he's literally doing the same thing,
• 1:06:34
  but he's doing it with quote digital credit.
• 1:06:36
  And they're they're terrified. They're like, shit, the game's
• 1:06:40
  exposed. Just don't look at what sailor's
• 1:06:43
  doing. Don't look at what strategy's
• 1:06:44
  doing. You know, it's, it's really a
• 1:06:46
  distraction kind of game being played on right now.
• 1:06:49
  Remember attention, we are in the attention economy.
• 1:06:54
  And if they can distract you from what is actually happening,
• 1:06:57
  then you go on and you live in this Fiat world and you live in
• 1:07:02
  this kind of, I don't know, unreality of like this is how
• 1:07:05
  things work. And then once you really latch
• 1:07:07
  onto the signal, you realize, oh, shit, like everything is
• 1:07:11
  fake. Everything is a Truman Show.
• 1:07:14
  Anyways, yeah, last bit on that. OK, So what do I got here?
• 1:07:20
  I got a CNBC article here. I I did, guys.
• 1:07:23
  I did pull up the one minute chart.
• 1:07:26
  I know you guys love the one minute chart.
• 1:07:29
  PSA contacts don't trade the one minute chart, but I do like
• 1:07:32
  watching the one minute chart. Anyways, here's CNBC.
• 1:07:35
  And it goes. the Fed meeting is likely to feature a rate cut and
• 1:07:38
  a lot more. Here's what to expect.
• 1:07:40
  This came out yesterday, but you know, whatever it goes, Federal
• 1:07:43
  Reserve is poised to deliver its third straight interest rate cut
• 1:07:46
  Wednesday today, while simultaneously simultaneously
• 1:07:50
  firing a warning shot about what's ahead.
• 1:07:53
  The rate setting FOMC is split between members who favored cuts
• 1:07:57
  to head off further weakness in the labor market and those who
• 1:08:00
  think easing has gone far enough and threatens to aggravate
• 1:08:03
  inflation. In addition to the rate decision
• 1:08:06
  and the statement, investors will be watching an update to
• 1:08:08
  the quote dot plot of individual officials, rate expectation and
• 1:08:12
  economic projections. And remember the last time we
• 1:08:15
  got this, I was telling you guys like the Fed is just as confused
• 1:08:20
  as the market is. It was basically split down the
• 1:08:23
  middle, some saying we need more rate cuts, some saying we've cut
• 1:08:27
  enough, some saying it's going to destroy everything.
• 1:08:30
  They're just as confused as the market is, which really always
• 1:08:33
  makes you wonder like if you're waiting for the Fed's decisions,
• 1:08:37
  if you're waiting on people that are confused about what's going
• 1:08:40
  on. Like they're, they're touted as
• 1:08:41
  being like, you know, that economic pH DS are here, bro.
• 1:08:47
  Like trust me, bro, I have a PhD in in economics.
• 1:08:50
  So I can tell you the signals that you need to trade off of.
• 1:08:54
  And if they're all split and just as confused as the retail
• 1:08:58
  is, why are we listening to them?
• 1:09:00
  Anyways, a couple minutes from now?
• 1:09:02
  So I did pull up, you know, before the show what a what we
• 1:09:07
  might be expecting. Again, we do like to use the
• 1:09:09
  prediction markets, not necessarily because they are
• 1:09:12
  facts, because I think it does tell you about sentiment.
• 1:09:15
  People have to really put money on the line here to kind of, you
• 1:09:20
  know, again put their money where their mouth is.
• 1:09:22
  And so here we have it. Let's see.
• 1:09:24
  So the market might be pricing in a 25 bit cut.
• 1:09:30
  It's almost run away. This is 9 currently 97% chance
• 1:09:36
  that we're going to see a 25 bit cut.
• 1:09:39
  There's a 3% chance on this one. And here, well, there's
• 1:09:42
  $376,000,000 in volume here, guys, so no change. 3%.
• 1:09:47
  Fifty bits cut, less than 1% and less than 1%, just 25 bit
• 1:09:53
  increase. OK, let's see.
• 1:09:56
  I saw another one, this one's a little smaller, 15K, but are we
• 1:10:02
  going to see a 25 bit cut odds on December 10th?
• 1:10:06
  You know, it looks this one doesn't have much volume, so
• 1:10:10
  we'll go back to this one. Looks like everyone is pricing
• 1:10:15
  in 25 bit cut. Now one of the things that I do
• 1:10:19
  want to hit on since we got a couple of minutes here and maybe
• 1:10:24
  maybe I'll pull up Twitter as well.
• 1:10:27
  One of the things that I do want to hit on is usually bit corners
• 1:10:34
  like to say that you know, rate cuts are bullish like easier
• 1:10:39
  money, more liquidity, low interest rates, which means more
• 1:10:42
  people are going to want to borrow, which means the money
• 1:10:45
  supply is going to expand. What we have noticed the last
• 1:10:49
  couple rate cuts is the Bitcoin price has kind of tanked on
• 1:10:52
  them. So I wouldn't be surprised if we
• 1:10:55
  did already price in rate cuts and then we see a some
• 1:10:58
  volatility to the downside in a couple of minutes.
• 1:11:00
  Usually you kind of get an initial spike and then, you
• 1:11:04
  know, Jay Powell will talk and then you might see a lot of
• 1:11:09
  volatility while he's talking and then you'll really kind of
• 1:11:12
  understand what's going on. So I wouldn't be surprised if we
• 1:11:15
  see a lot of volatility. I wouldn't be surprised if we
• 1:11:19
  see a dump. But long term, I would argue
• 1:11:22
  this is going to be super bullish.
• 1:11:24
  But we haven't really seen the, oh, rate cuts happen.
• 1:11:28
  Bitcoin price rips. And look at that one minute
• 1:11:33
  chart here. We are kind of dumping a little
• 1:11:36
  bit. So what what is this?
• 1:11:38
  What's 1840? Is that 6:40 in the morning?
• 1:11:43
  No, what's 1840? Military times are all right.
• 1:11:52
  So we're dumping. My buddy's probably right.
• 1:11:54
  The rate cuts were priced in and we're going to dump.
• 1:11:58
  OK Oh wait, I didn't show you guys.
• 1:12:01
  OK, one minute chart is tanking. Yes, yes, yeah.
• 1:12:05
  And for those that aren't familiar, rate cut announcement
• 1:12:09
  in 3 minutes and then Powell will speak at 2:30.
• 1:12:13
  I watched the last one, but I was also watching the one minute
• 1:12:16
  chart as it was happening and man dude, it was just whip
• 1:12:20
  sawing. Yeah, sorry dude, it's here,
• 1:12:22
  it's here. It's a little dumpy, not gonna
• 1:12:24
  lie. It's a little dumpy here guys.
• 1:12:27
  So what what'd this get down to 92?
• 1:12:33
  OK, all right, Oh, oh, oh, are we going to get a little fed
• 1:12:38
  rate pre pump and then a real massive, real massive dump.
• 1:12:44
  All right, all right, I'm I'm refreshing Twitter.
• 1:12:46
  So 2 minute announcement. I'm sure we will get it in real
• 1:12:53
  time and we'll watch the one minute chart as the announcement
• 1:12:56
  happens. One minute equals manipulation
• 1:12:59
  scare. Yes, yes, let's see.
• 1:13:03
  Doesn't matter what Powell says, he's out and a massive rate cuts
• 1:13:07
  are coming. Anyone who trades off Powell is
• 1:13:09
  a moron. I mean, I totally agree on this.
• 1:13:11
  I'm totally, 100% in agreement on this, but we'll see.
• 1:13:17
  We'll see. Yo chat, chill, yo chat.
• 1:13:24
  Hey, yo-yo chat, chill. All right?
• 1:13:27
  We got a little, we got a little action.
• 1:13:28
  We got a little action. All right.
• 1:13:31
  What? Less than less about a minute.
• 1:13:34
  One minute breaking. One minute, one minute.
• 1:13:36
  1,000,000. Dude, don't be scared.
• 1:13:40
  Cheap sets, cheap sets, cheap sets on the horizon.
• 1:13:45
  Let's see one more minute. I really need the like, what's
• 1:13:51
  what's that one like? Do do do do do do I forget I'm
• 1:13:56
  forgetting for maybe he's going to raise rates.
• 1:14:02
  Maybe dude, maybe. I doubt that.
• 1:14:04
  I doubt that. No.
• 1:14:06
  I did hear speculation that a lot of people are pricing in a
• 1:14:11
  25 bit cut. Many people are saying that he
• 1:14:15
  might not cut it all and just delay it.
• 1:14:18
  So that's going to be that's going to be interesting.
• 1:14:20
  That's going to be super interesting.
• 1:14:22
  Yes. FOMC at 2:30, the meeting, the
• 1:14:25
  meeting jeopardy. Yes, switch to this thirty.
• 1:14:29
  I don't think I have the 32nd chart.
• 1:14:32
  Don't you have to buy that? Yeah.
• 1:14:36
  Yeah, you got to buy that. I don't.
• 1:14:37
  I don't have that. Oh, oh, OK, OK, we're back.
• 1:14:41
  Oh, we're pumping. What did, what did it say?
• 1:14:43
  What did it say? Let's see.
• 1:14:45
  Let's see. Breaking, breaking, breaking.
• 1:14:48
  Federal Reserve cuts interest rates by 25 BIP.
• 1:14:52
  So it is official. Another 25 BIP rate cut.
• 1:14:58
  Let's go. All right, we'll go back to the
• 1:15:01
  one minute chart, you know? Oh, let's go.
• 1:15:06
  All right. This is why I like to watch the
• 1:15:07
  one minute show. OK.
• 1:15:08
  OK. All right, boys.
• 1:15:09
  All right, Well, we'll let it ride a little bit.
• 1:15:14
  We'll let it ride a bit. Let me.
• 1:15:16
  I forget where the rate cuts are.
• 1:15:18
  I think now it's official. Dude, it's ripping.
• 1:15:21
  Let's go. Let's see.
• 1:15:23
  It's ripping. What?
• 1:15:24
  What's it ripping dude? It ripped.
• 1:15:27
  It ripped a .61%. That's why I love watching the
• 1:15:35
  that's why I tell you guys do not trade the one minute chart
• 1:15:37
  because your psychology. Oh, and then now we're dumping
• 1:15:42
  God, you got to love it. You got to love it.
• 1:15:44
  Absolutely love it. OK, I'm just getting the told
• 1:15:49
  you the told you text what? What did you tell me?
• 1:15:52
  I don't text me again. What did you tell me?
• 1:15:55
  I think the, the rate cuts or the official rates, if I
• 1:15:59
  remember, I'm, I'm gonna, I'm gonna check right now.
• 1:16:04
  I think last time it was like 3.75 to 4.
• 1:16:08
  So yeah. So now officially if we just
• 1:16:12
  cut, you know, 25 bips, it is 3.5 to 3.75% official rates.
• 1:16:19
  So there we go oh oh, I know what my my friend said he said
• 1:16:25
  rate cuts coming December 10th, which means bitcoin's going to
• 1:16:28
  RIP we'll see we'll see we will see boys and girls, we will see
• 1:16:33
  so let's see Breakout retest resumption Opti one minute chart
• 1:16:38
  goaded yes. This is a pump for ants.
• 1:16:43
  This is a pump for ants, 100%. Oh, yeah.
• 1:16:48
  And guys, sorry, I'm colorblind here.
• 1:16:50
  So for you guys watching, the green is blue and the red's
• 1:16:55
  obviously red. You know, I, I can just see the
• 1:16:57
  chart better and it helps me see everything.
• 1:17:03
  Oh, my buddy's funny. My buddy is funny.
• 1:17:06
  OK, so, you know, we pumped and it looks like we are dumping
• 1:17:12
  now. There we go.
• 1:17:13
  There it is. There it is, there it is.
• 1:17:18
  All right guys, so it's official 25 bit rate cuts if you're a
• 1:17:23
  macro nerd kind of like myself. We'll see what happens when Jay
• 1:17:28
  Powell's dude is just fully re fully repay, fully re reprised.
• 1:17:35
  Oh man, that's so funny. That's why I'm telling you do
• 1:17:38
  not trade. Do not trade.
• 1:17:43
  Look at this. Let's go.
• 1:17:45
  All right. So maybe I was right.
• 1:17:47
  I guess I was right. We are getting some cheap sats
• 1:17:52
  on the table here. I'll zoom out a little bit.
• 1:17:54
  You guys can see a little bit of my chart blank since you're
• 1:17:56
  hanging out with me here. We'll see.
• 1:17:59
  We'll see what happens here. These are just on my levels
• 1:18:01
  right now. Currently there's like 92K level
• 1:18:04
  if we break up out of that next one I'm looking is roughly
• 1:18:07
  around one O 7, one O 8 and then of course all time high.
• 1:18:10
  Though I am kind of seeing a little trend evolving here.
• 1:18:14
  So it's going to be interesting if we go back down to it.
• 1:18:17
  But you know I don't trade all right.
• 1:18:20
  I just like to chart boy a little bit, see if I can guess
• 1:18:24
  where the price is going, but we'll see we'll see what
• 1:18:28
  happens. We'll see what happens, guys.
• 1:18:30
  Anyways, that's it for today. It's all I got.
• 1:18:33
  Opti is a market maker. Not at all, dude.
• 1:18:39
  Not at all. All right, guys, I love you.
• 1:18:41
  And also, hey, what do you think about just simply Opti?
• 1:18:46
  What do? What do you think about me just
• 1:18:48
  doing the show alone forever? No, I don't.
• 1:18:50
  I don't want to do it forever. I don't want to do it forever.
• 1:18:55
  But hey, I kind of killed it today.
• 1:18:56
  We kind of killed it. Let me see the number.
• 1:18:58
  Yeah, the numbers are good. You guys like hanging out with
• 1:19:01
  me. It's a little more.
• 1:19:02
  It's a little more light when I do.
• 1:19:03
  It's a little more fun. All right, Sorry the milkshake
• 1:19:07
  machine is broken today. Yeah, totally, dude.
• 1:19:10
  All right, peace out, guys. I love you.
• 1:19:14
  It's official 25 bit rate cut. Actually, maybe, maybe one last
• 1:19:19
  thing. One last thing, as we've been
• 1:19:23
  talking about, I know they've been saying a lot of things
• 1:19:28
  about the Fed acting political, the Fed being independent.
• 1:19:34
  Obviously they are beholden to the markets.
• 1:19:37
  And what we're seeing right now is 1, depending on who you're
• 1:19:41
  listening to, Like the economy is effed, you know, no one feels
• 1:19:46
  like they're making money. No one's sure what's going on.
• 1:19:49
  No one knows what signals to trade against.
• 1:19:51
  No one is even able to really plan economically for their
• 1:19:55
  business. But what we're seeing is the
• 1:19:59
  projection and the telegraphing of what they want to do.
• 1:20:02
  They want to cut rates. They want to turn the money
• 1:20:04
  printer back on. Obviously, QT just ended.
• 1:20:07
  So it does seem like the Mar A Lago Accords are playing out in
• 1:20:11
  real time. I've done some breakdowns on
• 1:20:13
  this. If you want to really kind of
• 1:20:15
  update what this all means. I know I'm not really supposed
• 1:20:19
  to do this, but I would recommend you go to Mark Moss's
• 1:20:22
  YouTube channel and I think he's got a video called like Mar A
• 1:20:25
  Lago Accords, like 30 minutes. He'll layout exactly.
• 1:20:29
  Exactly what I also believe is going on, I think it's very
• 1:20:32
  obvious what's going on. It's about like a 30 minute
• 1:20:35
  video. I did go down like a 2 hour
• 1:20:37
  rabbit hole watching some of Mark Moss's content about a
• 1:20:39
  month ago and it just made perfect sense to me.
• 1:20:42
  So I think that's what's going on.
• 1:20:45
  Dude, they're cutting rates. The money printer's going to go
• 1:20:48
  get turned on. They're going to do QE by any
• 1:20:50
  other name. They want easy money.
• 1:20:52
  This is what the Trump administration wants.
• 1:20:55
  And further, as we move into 20, what's next here, 2026?
• 1:21:00
  They have to figure out the economy before the elections.
• 1:21:04
  And the only tools they really have is essentially blast.
• 1:21:10
  Blast the system with a bunch of liquidity, devalue the dollar so
• 1:21:14
  that people on paper feel richer.
• 1:21:18
  They're going to destroy your purchasing power.
• 1:21:20
  That's just the game. I didn't make the rules.
• 1:21:23
  I'm just relaying what the game is.
• 1:21:25
  I'm just relaying what they're telling us.
• 1:21:27
  They want to destroy the purchasing power of the dollar
• 1:21:30
  so that they have a better balance globally.
• 1:21:34
  Right now, obviously, there's, you know, problems in trade.
• 1:21:37
  Trump's all over the trade wars, Trump's all over the tariffs.
• 1:21:41
  They're trying to figure out how they can manage this.
• 1:21:46
  They basically only have two, two tools here, like raise
• 1:21:49
  interest rates, which will probably break things or destroy
• 1:21:54
  the purchasing power, which is like they're kind of get out of
• 1:21:57
  get out of jail free card. But that hurts Main Street.
• 1:22:03
  So they're obviously not going to hurt themselves.
• 1:22:07
  They're going to they're going to destroy the purchasing power.
• 1:22:11
  So they they're doing exactly what they've been saying.
• 1:22:13
  Oh, look, hold on. Before I go, before I go, we'll,
• 1:22:16
  we'll show you the one minute chart one more time.
• 1:22:18
  It rebounded. This is what I'm saying.
• 1:22:23
  Do not trade around the FOMC meeting unless you know what
• 1:22:27
  you're doing. Because look at this whipsaw
• 1:22:29
  action in the span of what, 20 minutes?
• 1:22:37
  Wouldn't do that. Wouldn't be me.
• 1:22:39
  Anyways. Love you guys.
• 1:22:42
  Yeah, this is it. This is it.
• 1:22:44
  Good job, Nate. Weaker dollar makes the markets
• 1:22:47
  look good. Exactly.
• 1:22:49
  So they need a weaker dollar. Anyways, guys, I'll see you
• 1:22:52
  tomorrow. Have a good rest of your day,
• 1:22:55
  enjoy your Wednesday, eat some good food.
• 1:22:59
  I think I'm going to be a fat boy today, dude.
• 1:23:01
  I'm going to get some. I'm going to get a burger or
• 1:23:04
  something. Anyways, peace out guys, I'll
• 1:23:06
  see you tomorrow. Today's episode was brought to
• 1:23:09
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:23:12
  mission to enable financial independence.