Latest / Simply Bitcoin / BREAKING: Middle Eastern GIANT EXPOSED For Secretly Buying Bitcoin?! | EP 1318

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BREAKING: Middle Eastern GIANT EXPOSED For Secretly Buying Bitcoin?! | EP 1318 · Simply Bitcoin

• 0:00
  So we have a brand new report that confirms the $530 billion
• 0:06
  giant, the UAE, has been secretly mining Bitcoin.
• 0:11
  Now, this report that we're going to be sharing with you
• 0:14
  guys today is going to surprise you guys for a lot of reasons.
• 0:19
  A lot of people have speculated that these Middle Eastern giants
• 0:23
  are sitting on hundreds of thousands of Bitcoin.
• 0:26
  You can even see the subheading of this article right right here
• 0:30
  says the UAE holdings were previously speculated to be as
• 0:36
  much as 420,000 Bitcoin. And this again, hypothetical
• 0:43
  speculation would have made them the biggest government holder of
• 0:50
  Bitcoin. But the report we're going to be
• 0:51
  diving into today makes some interesting claims.
• 0:55
  It shares some on chain data and I think it gives us the first
• 1:00
  accurate prediction or estimate of just how much Bitcoin the UAE
• 1:06
  publicly holds. Of course, Opti and I are
• 1:09
  probably going to dive into maybe how much Bitcoin they hold
• 1:11
  privately at the end of today's stream, but let's dive straight
• 1:15
  into this new report we've got. Opti, what did you think when
• 1:18
  you first saw this headline this morning?
• 1:20
  Well, when I saw this, obviously my first thought was like, this
• 1:24
  is huge. We've been speculating on this
• 1:27
  happening for a while. We've seen a lot of kind of, you
• 1:30
  know, trickling of this idea that the Middle East is getting
• 1:33
  a lot more interested in Bitcoin.
• 1:35
  It's actually kind of been like a running rumor, slash
• 1:38
  speculation for probably over a year now.
• 1:40
  And slowly but surely we did get more kind of Intel coming out
• 1:45
  from the Middle East of what exactly is going on.
• 1:47
  Of course, we have sovereign wealth funds that are embracing
• 1:50
  Bitcoin, other Bitcoin exposure. And then we do know as, as this
• 1:54
  report will kind of show us, we do know that they have built out
• 1:59
  the mining infrastructure out there in the Middle East.
• 2:01
  We all know they got a lot of cheap energy, which is a match
• 2:03
  made in heaven. And like we've been saying, I
• 2:07
  mean, we speculated last week on how much potentially is being
• 2:11
  held in the Middle East. And I think it might be more
• 2:13
  than this report is claiming. But obviously we have nothing
• 2:17
  really set in stone here. What we do know is exactly what
• 2:21
  this report is saying. They do have some Bitcoin and
• 2:25
  they're doing it in a way that is a lot different than every
• 2:28
  other nation states. There's really, you know, maybe
• 2:30
  two or three nations that I would say are and, and this is
• 2:33
  of course my opinion on on it are acquiring Bitcoin ethically
• 2:38
  to to put it lightly here. And yeah, yeah, I'm, I like it
• 2:43
  was one of those things where it confirms exactly what we've been
• 2:45
  thinking. And I think this is probably
• 2:49
  just the beginning. Now, I do want, before I ramble
• 2:51
  more, I think we should break this down and then we can
• 2:54
  speculate on exactly what's going on because the numbers do
• 2:58
  seem low here, at least compared to what we've heard they should
• 3:01
  have. And then also some private
• 3:04
  conversations of what we believe is happening.
• 3:06
  So Luke, I'll pass it back to you.
• 3:08
  Let's read this report real quick so the people know exactly
• 3:11
  what we're talking about. Yeah, so this here, this is a
• 3:14
  tweet coming out from Arkham Intelligence.
• 3:17
  Again, this is the on chain analytics firm that exposes all
• 3:22
  of the big holders of Bitcoin. They were the first ones
• 3:24
  reporting on the ground when Germany was selling the 55,000
• 3:28
  Bitcoin they held and they dumped at the bottom way back in
• 3:32
  2024. These guys are tracking what all
• 3:35
  of the governments are doing with their Bitcoin wallets.
• 3:37
  They have shown time and time again to be incredibly accurate.
• 3:41
  And what I think's really interesting about this new
• 3:43
  report on the UAE is it's kind of similar to what Arkham found
• 3:49
  with the Kingdom of Bhutan. So this is via Arkham
• 3:52
  Intelligence found photos and video footage of the Kingdom of
• 3:56
  Bhutan secret Bitcoin mining hotspots, so to say, buried away
• 4:01
  in the country. And it looks as if they found a
• 4:04
  similar receipt here on the UAE. So have a look at this, They
• 4:08
  have photos and they've geolocated the mining hotspot in
• 4:13
  the UAE. So we can see in conjunction
• 4:15
  with Phoenix Group, this is a public UAE mining company, and
• 4:19
  the UAE government owned IHC Citadel has built an 80,000
• 4:26
  square meter Bitcoin mining facility on an island in Abu
• 4:32
  Dhabi. OK, so that's kind of insane.
• 4:34
  And we have here photos of the 80,000 square meter mining
• 4:40
  facility. It's huge, massive.
• 4:43
  So what we can see is that publicly, publicly, the UAE is
• 4:48
  supposed to be holding somewhere around the headline numbers at
• 4:53
  the top here, $700 million in mined Bitcoin.
• 4:57
  So this is how much they're saying has been publicly mined.
• 5:01
  If we have a look at how much Bitcoin that is, that would be
• 5:04
  around 6300 Bitcoin. So if we to if we were to
• 5:09
  compare this to other countries, again, this would put them at #5
• 5:15
  on this list ahead of El Salvador because of course,
• 5:17
  Germany does not hold the 50,000 Bitcoin that this little graphic
• 5:21
  show. So again, I think a lot of
• 5:23
  people were expecting the UAE to be sitting on a lot more Opti.
• 5:28
  What are your thoughts on this 6300 Bitcoin number?
• 5:32
  Well, I mean, in the context of nation states, it might be a
• 5:36
  humble stack here, but in the context of everyone here, it's
• 5:40
  probably more Bitcoin than all of us have combined together.
• 5:43
  So, you know, it's, it's hard to really be mad at what their
• 5:47
  holdings are. But as you're saying, or rather
• 5:50
  as we've all been speculating and I and I don't know if we put
• 5:53
  that number up here, but you know, as everyone was really
• 5:56
  speculating on how much they hold the, the number was what,
• 6:00
  420,000 bitcoins. So it seemed for a while there,
• 6:03
  at least as the rumors were flying and the speculation was
• 6:06
  going on, it seemed that the UAE could have potentially doubled
• 6:11
  what the US, you know, quote, UN quote holds here.
• 6:14
  Now, I do have a few different views on this.
• 6:17
  The first one is of course we don't have any hard data besides
• 6:21
  what Arkham is kind of showed and and even going further, you
• 6:24
  know, this isn't them claiming they own 6300 Bitcoin.
• 6:28
  This is Arkham doing kind of doing their due diligence and
• 6:31
  and kind of doing some sort of investigative journalism here
• 6:35
  with satellites and you know on chain data connecting that they
• 6:41
  as of now claim or rather we claim as the community or rather
• 6:45
  Arkham intelligence that they hold 6300 Bitcoin.
• 6:49
  Now it is a pretty good start. I would say, you know, very
• 6:53
  quickly jumped up that leaderboard here in the nation
• 6:55
  state race and it really just shows like if someone comes in
• 7:01
  two Bitcoin stacks quietly and you know, does it with
• 7:05
  conviction, they can climb this leaderboard, you know, very
• 7:09
  quickly. And so you know, 6300 Bitcoin
• 7:13
  obviously in comparison to like 200 K Bitcoin looks like a small
• 7:17
  holding here. It it doesn't, you could argue
• 7:20
  it's not that significant per se, but it's still in the
• 7:24
  leaderboard just like a huge jump from zero to 6300 Bitcoin
• 7:28
  or zero to 700 million Bitcoin. Now the real speculation is do
• 7:34
  they hold more? And that's where the
• 7:36
  conversation gets interesting because we've only really been
• 7:39
  able, and I'm saying we as like the Bitcoin community here or
• 7:42
  Bitcoin intelligence on chain analytics, we've only really
• 7:46
  been able to pinpoint just potentially one wallet here.
• 7:49
  So 6300 maybe looks like a small holding compared to 200K, but
• 7:56
  they probably, and I would argue they, they're most likely
• 8:00
  holding more coin than that. And of course, if we've been
• 8:03
  speculating for a long time and and there's various kind of
• 8:06
  routes where the speculation came from 420,000 coins, if they
• 8:12
  come out and they say, yeah, actually we do hold a lot more
• 8:16
  or we're rather we're able to connect some other wallets that
• 8:19
  aren't holding their whole bag. That would be huge.
• 8:22
  That would fundamentally change the nation state race on Bitcoin
• 8:26
  and very clearly and with a huge lead, jump them to number one
• 8:31
  spot. Now is that what's going on?
• 8:34
  Who knows, But we have been having these conversations for a
• 8:37
  long time, I'm sure. I think we've been covering this
• 8:39
  on the show, Luke, for like over a year now that the Middle East
• 8:42
  has been stacking Bitcoin. Now that's where like the the
• 8:45
  last point comes in is what I kind of teased at earlier.
• 8:49
  There's only three countries now for sure that we know are
• 8:53
  acquiring Bitcoin quote, UN quote ethically without this
• 8:56
  kind of asterisk of we are confiscating your Bitcoin.
• 9:00
  Most other Bitcoin accumulations from nation states are all
• 9:04
  confiscated Bitcoin. We have El Salvador that's been
• 9:08
  stacking, like actually stacking, you know, buying
• 9:10
  Bitcoin with their money. We have the Kingdom of Bhutan,
• 9:13
  which also did a very similar play to the UAE of mining
• 9:17
  Bitcoin and then holding it on their national balance sheet.
• 9:21
  And now we have the UAE who is doing exactly that, you know,
• 9:25
  ethically getting their Bitcoin like everyone else, either
• 9:28
  buying or mining Bitcoin. That's the only two ethical ways
• 9:31
  you can get your Bitcoin is by acquiring Bitcoin with your own
• 9:34
  capital. And I love to see that these
• 9:36
  nation states are, you know, doing this.
• 9:39
  And I, I hate to put my own judgement calls on this, but
• 9:43
  that's kind of what I do, doing this the right way, you know,
• 9:47
  acquiring Bitcoin mining and, or just putting their money where
• 9:50
  their mouth is versus, you know, a pseudo 61-O2 and confiscating
• 9:54
  it from, from their citizens. And of course, it's not a six
• 9:57
  one O 2 like a lot of the Bitcoin that the US has claimed
• 10:01
  it was from criminal activity and they have a right to asset
• 10:04
  seizures, etcetera, etcetera. And maybe maybe it's a little
• 10:08
  more nefarious coming out of China.
• 10:09
  Again, I don't want to put judgement calls on China here,
• 10:12
  but I'm guessing they're all all the countries are are have
• 10:16
  essentially acquired a stack by taking it from their citizens,
• 10:18
  whether you know, through criminal activity or maybe some
• 10:22
  dubious claims here, but AKA like the, you know, some some
• 10:26
  Mount G Ox bit Fenix stuff type stuff.
• 10:28
  Yes, the the exchanges were hacks, etcetera, but it's really
• 10:32
  interesting to see that this is heating up.
• 10:35
  No longer is it speculation that the Middle East is acquiring
• 10:38
  Bitcoin and saving it, which is the big kind of tell here.
• 10:41
  But they are they, you know, they kind of got caught with
• 10:44
  their down whether they wanted to expose their holdings or not,
• 10:47
  the totally different conversation.
• 10:49
  But this is something we have been saying for a long time that
• 10:52
  there could potentially be countries out there stacking
• 10:55
  Bitcoin. And if they don't want to tell
• 10:56
  us, then we'll never know until they're willing to tell us or
• 11:00
  again until they get kind of caught on chain.
• 11:02
  So interesting, interesting to see this happening now whether
• 11:07
  they kind of did this on purpose to kind of show that, yes, we
• 11:10
  are in the game and they're not trying to expose their whole
• 11:14
  holdings. That would be another
• 11:15
  interesting conversation. But there is one more point.
• 11:19
  But I do want to pass it to you, Luke, what's your thoughts on
• 11:22
  this? Do you also think they have
• 11:24
  more, more Bitcoin like I would say they do.
• 11:27
  I think it's very clearly they would.
• 11:29
  They definitely have more Bitcoin.
• 11:31
  Sue, there's a lot of interesting rabbit holes you
• 11:33
  just brought up. Let's touch on the first one.
• 11:35
  So again, there's been some rumours and speculations here
• 11:38
  for some time surrounding these Middle Eastern giants.
• 11:42
  Again, this is just speculation, but some people were saying
• 11:45
  Saudi Arabia and Qatar were rumoured to be wanting to buy
• 11:49
  1,000,000 coins, which would be insane.
• 11:53
  And again, we don't know how much Bitcoin all of these
• 11:58
  governments hold because the Kingdom of Bhutan showed us
• 12:03
  exactly how a government could buy and mine a ton of Bitcoin.
• 12:08
  So we can see by this headline, remote mountain Kingdom of
• 12:12
  Bhutan is operating secret state owned Bitcoin mining facilities.
• 12:18
  So again, we were very lucky and fortunate to find out about the
• 12:22
  Kingdom of Bhutan. And when all of the details
• 12:26
  surrounding the block fire and Celsius bankruptcy filings came
• 12:30
  out and some very keen observer noticed hang on a minute struck.
• 12:35
  Isn't that the Kingdom of Bhutan's very own sovereign
• 12:38
  wealth fund? They're a creditor for Celsius
• 12:41
  and Blockfire. What are they doing mining or
• 12:44
  what are they doing getting loans against their Bitcoin?
• 12:47
  And then obviously the Kingdom of Bhutan came out and said, OK,
• 12:49
  you called us. Yes, our sovereign wealth fund
• 12:52
  will use was using blockfire in Celsius, but we've actually also
• 12:56
  been mining Bitcoin since 2019 since it was under 5 KA coin.
• 13:00
  So again, we were very lucky to find this out.
• 13:02
  But the Kingdom of Bhutan showed us the playbook.
• 13:05
  They showed us, I think what a nation state could do if they
• 13:09
  wanted to buy Bitcoin. And what's strange about the
• 13:12
  Kingdom of Bhutan is before that 2023, you know, disaster
• 13:18
  happened with block 5 in Celsius.
• 13:21
  There was not a peep or a rumor or a mention that the country,
• 13:25
  the government, or the sovereign wealth under the Kingdom of
• 13:27
  Bhutan was interested in Bitcoin.
• 13:29
  They never said anything about it.
• 13:31
  And it came out that, hey, they're hardcore Maxis who've
• 13:33
  been mining for six years. So again, this is really where
• 13:37
  the speculation comes into things.
• 13:39
  I, I think it's incredibly unlikely that there are not
• 13:42
  multiple other nation states who are secretly doing exactly what
• 13:47
  the Kingdom of Bhutan did, and that is mine thousands of coins.
• 13:51
  So again, just speculation. I think they probably do own a
• 13:54
  ton of Bitcoin. Again, let's not forget the
• 13:57
  facts and some more recent news that came out earlier in the
• 14:01
  year. Granted, the Abu Dhabi sovereign
• 14:05
  wealth fund bought about half a billion dollars of BlackRock,
• 14:10
  BlackRock Bitcoin ETF. I bit and a lot of us were like,
• 14:13
  hey, you know, we think it's pretty likely that also mining
• 14:17
  Bitcoin and buying the real thing.
• 14:19
  And sure enough, the news that came out today from Arkham kind
• 14:22
  of confirms that. Hang on a minute, these guys are
• 14:26
  not just buying shit coins in the form of ETFs, they're
• 14:29
  actually buying the real thing. And you can see Arkham
• 14:32
  Intelligence did all of the digging.
• 14:34
  They found all of the addresses associated to the UAE's official
• 14:39
  Bitcoin holdings. And by the looks of things,
• 14:43
  they've been mining Bitcoin for a couple of years here.
• 14:45
  So you can, they've been able to find their wallet details going
• 14:49
  all the way back to early 2023 by the looks of things, based on
• 14:53
  this new Arkham Intelligence Report.
• 14:56
  So to answer your question of the yes, I think these Middle
• 14:58
  Eastern giants are balls deep in Bitcoin.
• 15:00
  I think they've been buying, I think they've been mining, I
• 15:03
  think they're all over Bitcoin. But I'd love your thoughts on
• 15:05
  this. What do you think?
• 15:07
  Yeah. And I think that's the tell
• 15:09
  here. Look, we were kind of saying in
• 15:12
  regards to the US when it came to our strategic Bitcoin
• 15:15
  reserve, that it was, you know, on the one hand, a very
• 15:19
  interesting strategy of saying, hey, we're going to accumulate a
• 15:21
  million Bitcoin and signaling to the rest of the world that we
• 15:25
  are jumping head first into the Bitcoin space or crypto space,
• 15:29
  however you want to frame it. Because this is the strategy
• 15:33
  that I as an individual, if I was heading a nation state,
• 15:37
  would follow. You don't want to tell the rest
• 15:40
  of the world what your holdings are like.
• 15:42
  That's the one O 1 Bitcoin stuff.
• 15:43
  The last thing you want to do is tell people how much Bitcoin you
• 15:47
  hold. And if I was a nation state and
• 15:50
  or rather, if I was the head of a nation state, I would most
• 15:53
  likely follow the Bhutan or the UAE strategy.
• 15:56
  I would just deploy the infrastructure or deploy the
• 15:59
  capital, accumulate Bitcoin, get Bitcoin exposure however I
• 16:02
  possibly could at whatever, whatever route I needed to to
• 16:05
  get our capital into the Bitcoin space.
• 16:08
  And then I wouldn't be telling anyone.
• 16:10
  And so as we've seen, the only two times that we've had
• 16:14
  countries basically be exposed for their Bitcoin holdings were
• 16:18
  the exactly that because of, you know, things outside of their
• 16:21
  control. So that leads you to kind of the
• 16:24
  conclusion that there's probably other nation states out there,
• 16:28
  other sovereigns that are acquiring Bitcoin silently.
• 16:32
  So if we're seeing this come out, you know, we've seen a
• 16:34
  small country, the Kingdom of Bhutan, we're seeing the UAE
• 16:37
  come out and say, yeah, we hold a lot of Bitcoin and we're going
• 16:40
  to continue to hold Bitcoin. It's it's I think it's a very
• 16:43
  easy argument to say there is multiple countries doing this
• 16:48
  right now that we don't know. And if you're not acquiring
• 16:51
  Bitcoin right now, while sovereigns, institutions and the
• 16:55
  ETS are gobbling up all of the Bitcoin, you're really, really
• 16:59
  behind in the race right now. And this is kind of the trend
• 17:02
  that we've been hearing a lot the last couple of weeks.
• 17:04
  Remember yesterday I was playing, or rather I showed you
• 17:08
  guys a David Bailey tweet and I did kind of like a price
• 17:11
  analysis on this idea that right now the price does feel like it
• 17:16
  is shaking out the weak hands as these sovereigns, as these
• 17:19
  nation states, as these institutions are acquiring
• 17:24
  Bitcoin. And this leads everyone to
• 17:26
  believe like maybe we don't get another bear market.
• 17:28
  Maybe this is the beginning of hyper bitcoinization.
• 17:31
  When you have these basically countries or really wealthy
• 17:35
  people with, you know, for lack of better terms, like unlimited
• 17:38
  money getting into Bitcoin. We might not be seeing the
• 17:42
  whales might be able to quote UN quote manipulate the price like
• 17:45
  they used to. And if that is the case, if you
• 17:48
  have insiders telling us, yeah, there there's a lot of interest
• 17:51
  in Bitcoin right now, right now is not the time to take your
• 17:55
  foot off the gas or, you know, buy that house or that yacht or
• 17:59
  that supercar or whatever you think you need right now.
• 18:02
  Right now is not the time because the price is going to
• 18:04
  increase and it's probably going to increase like levels we
• 18:08
  haven't seen for, you know, a decade or years at that at that
• 18:12
  point. And it really reminds me, Luke,
• 18:14
  of the clip that we played last week of Eric Trump where he was
• 18:19
  saying exactly this. He, like we were arguing, we
• 18:23
  were speculating on the show that it was probably the UAE.
• 18:26
  Now, if these numbers are their own holdings and that means
• 18:29
  there's another secret whale out there with 200,000 Bitcoin
• 18:33
  because the UAE is doing exactly what Eric Trump just said.
• 18:36
  Remember what he said, Recall what he said.
• 18:39
  It's like I've been talking in private conversations to leaders
• 18:42
  around the world that want Bitcoin and they're, they're
• 18:46
  going to, once the summer passes, allocate their, their
• 18:50
  city's energy infrastructure to mine Bitcoin.
• 18:54
  The UAE just did that. They literally, you know, built,
• 18:57
  built a mining site, a facility, and they're already mining
• 19:01
  Bitcoin. They've been doing this for a
• 19:03
  while. So if the UAE is not the one
• 19:06
  with 200 K coins that Eric Trump was saying he had these
• 19:09
  conversations with people about, then what other giant is out
• 19:13
  there going to come in and just jump the leaderboard here and be
• 19:17
  #1 potentially, we don't know what's going on with the US.
• 19:20
  We, we probably won't know what's going on with China.
• 19:23
  And obviously, Trump, Eric Trump, the president's son is
• 19:26
  not talking with China about their Bitcoin holdings.
• 19:28
  That would be a national strategic blunder on China's
• 19:31
  part. If they somehow leak that to us
• 19:34
  like that, that, that just doesn't make sense.
• 19:36
  So it, it's probably what we were speculating.
• 19:39
  It's some other Middle Eastern country out there with a
• 19:42
  significant Bitcoin holding and we won't know until they want us
• 19:46
  to know. And so for anyone out there that
• 19:49
  things like, oh, no one's buying this Bitcoin thing, guys,
• 19:52
  there's more and more data showing they are buying this
• 19:56
  stuff. They want this Bitcoin thing.
• 19:58
  But once you fully embrace Bitcoin, there's no putting the
• 20:01
  cat in the bag. So for now, they have the, you
• 20:04
  know, the anonymity, They have the benefit of the doubt here
• 20:06
  that, Oh yeah, we, we don't like this Bitcoin thing and then
• 20:08
  they're secretly acquiring. That's the that's the playbook.
• 20:11
  You want to do as a sovereign. You don't want to tell everyone?
• 20:15
  Yeah, we're we're. Buying Bitcoin in bulk right
• 20:18
  now, because then what does that do that makes it your
• 20:21
  competitors, AKA every other country in the world realize,
• 20:25
  hey, we got to put this Bitcoin accumulation strategy in
• 20:27
  OverDrive like we got to do this yesterday, especially when
• 20:31
  you're playing catch up here. So very interesting if this is
• 20:34
  the UA ES total holdings of 6300 coins, then guys, there's a,
• 20:40
  there's AI don't know what's like a, there's a megalodon out
• 20:43
  there circulating, acquiring Bitcoin like it's not a whale.
• 20:46
  Like this is a, this is an apex predator in the darkness, in the
• 20:50
  shadows with a huge holding, potentially more than the US who
• 20:54
  is the leader right now. And if they are doing this
• 20:58
  again, in a way that I would argue is the ethical way to get
• 21:01
  Bitcoin, again, not putting judgments on how people get it,
• 21:05
  but I'm going to put judgments on it.
• 21:07
  They come out strong. Yeah, we bought a whole bunch.
• 21:10
  We didn't confiscate it. Yes, we have our mining
• 21:13
  infrastructure being or energy infrastructure being allocated
• 21:16
  to mining. That's a fundamental shift in
• 21:19
  the game theory going on right now in Bitcoin.
• 21:21
  And it does seem still to this point, retail's asleep at the
• 21:26
  wheel right now. Institutions want your Bitcoin,
• 21:28
  sovereign wealth funds want your Bitcoin, sovereigns and nation
• 21:32
  states want your Bitcoin. And everyone, we're sitting here
• 21:35
  like, why are we only at 110? What's going on with the ETF?
• 21:38
  The ETF want your Bitcoin like now is the time to continue to
• 21:43
  stack. Why we are having all of this
• 21:45
  disbelief of what's going on in the market.
• 21:48
  This is the best time to be stacking, especially when you
• 21:50
  know what's on the horizon. Could not agree more, dude.
• 21:53
  And you brought it up, retail is absolutely sleeping.
• 21:57
  Let's have a look at just how badly retail is asleep at the
• 22:01
  wheel. Check this out.
• 22:01
  This is Google Trends. We can see this chart goes back
• 22:05
  for five years. Let's take it all the way back
• 22:07
  because again, I've been recently accused of cherry
• 22:10
  picking charts and I'm going to get to that in a moment.
• 22:13
  But you can see very, very clearly retail is absolutely
• 22:17
  asleep at the wheel. They are not here.
• 22:19
  And again, getting to that chart I mentioned about cherry
• 22:22
  picking, I think this chart here absolutely highlights that there
• 22:27
  are some, what do you call them, Opti megalodons?
• 22:30
  Yeah, there's a. Megalodon out there bro.
• 22:33
  There's somebody out there flapping their big fins and
• 22:36
  buying a whole lot of Bitcoin because as we can see, the
• 22:39
  Bitcoin on exchanges is down by 35% over the past three years.
• 22:44
  And again, caveat, because sometimes this isn't zoomed in.
• 22:48
  This chart is scaled from 2.5 million coins at the bottom to
• 22:52
  3.4 million at the top. I don't know why anyone would
• 22:56
  ever assume that this says there's no Bitcoin on exchange
• 22:59
  today because this chart is clearly labeled.
• 23:01
  But there is the caveat. The caveat is there, and we can
• 23:04
  see that about 500,000 Bitcoin have left the exchanges in the
• 23:08
  last six months. This has happened since Donald
• 23:11
  Trump got elected and this is happening while we're seeing all
• 23:15
  of these huge announcements from sovereign wealth funds in the
• 23:18
  Middle East, sovereign wealth funds all across Europe.
• 23:21
  We've seen a lot of this nation state FOMO.
• 23:24
  You've mentioned something a couple of times in this stream
• 23:26
  of the ethically sourced Bitcoin.
• 23:28
  And then of course, we have what Scott Besant just said recently
• 23:32
  in America on the national news. Did he slip up when he said he
• 23:36
  wasn't going to buy any more Bitcoin for the strategic
• 23:39
  Bitcoin Reserve, but he would continue adding to America's
• 23:42
  strategic Bitcoin Reserve by continuing to confiscate assets?
• 23:48
  I didn't know whether that was maybe a slip up, especially
• 23:50
  considering he took to Twitter like 2 to 3 hours later and just
• 23:54
  completely backtracked. He said, all right, guys, we are
• 23:57
  going to try to find budget neutral ways to buy more Bitcoin
• 24:00
  because that has been the narrative for six months.
• 24:02
  Oh, budget neutral, budget neutral.
• 24:05
  We're going to find some more ways to buy some more Bitcoin.
• 24:08
  And then he just kind of dropped the quiet parts out loud on the
• 24:10
  national news and quickly retracted that.
• 24:12
  So I don't know what's going to happen.
• 24:15
  All I'm going to say is I think that just kind of renewed use
• 24:18
  speculation in a 6102 style event, where is America going to
• 24:23
  get those confiscated assets from?
• 24:25
  I don't know. But I think they will be forced
• 24:28
  to make what I think will be seen as a dramatic decision in
• 24:34
  the future. They're going to have to do some
• 24:35
  dramatic things to buy some Bitcoin because it will be, it
• 24:40
  will be a what is it of the a national security risk.
• 24:44
  Yeah, And to watch a Middle East country or I, we can already see
• 24:50
  the narrative. Let's say Russia's been quietly
• 24:52
  mining Bitcoin for five years. They've been openly talking
• 24:55
  about it. They come out and say, yeah,
• 24:57
  we've got 50,000 coins. And then America says, OK, we
• 25:00
  need 10X that. We need to confiscate all of the
• 25:03
  Bitcoin of Coinbase or we need to take a strategic stake in
• 25:07
  micro strategy like America just did with Intel. 10% stake.
• 25:12
  A lot of people say that's crazy.
• 25:14
  It's speculation. It's tinfoil hat conspiracy
• 25:17
  theory kind of territory. I'm not so sure.
• 25:19
  I just think it's coming. It's the reality of Bitcoin.
• 25:23
  Every nation state will need it. And I, I don't know how long
• 25:26
  until we see one of these big dramatic 61-O2 type events, but
• 25:31
  I think it's coming much quicker than most people think.
• 25:34
  Yeah, no, I mean, when that story came out, I I was, they
• 25:38
  were calling me pessimist fields in the chat because my, you
• 25:41
  know, my tinfoil hat was on and I'm like, guys, I don't look,
• 25:45
  this sounds exactly what he's saying.
• 25:46
  He's, you know, as an individual, it should terrify
• 25:49
  you if you're an American company.
• 25:51
  That should also terrify you if you're one of these Bitcoin
• 25:54
  treasury strategy companies. I would be freaking out unless
• 25:58
  you know something that we don't.
• 26:00
  Obviously, we're just taking all this stuff on the surface and
• 26:04
  trying to dig deeper within what they're saying here.
• 26:06
  But yeah, it sounds like that would be a huge dramatic pivot
• 26:11
  here. You know, that would be like the
• 26:14
  ultimate rug pool. I I would argue, you know, we,
• 26:16
  we as bitcoiners or the crypto community, hey, you know, hate
• 26:19
  using that word, but that's what happened.
• 26:21
  Embrace Donald Trump said they're going to buy Bitcoin.
• 26:24
  And then, you know, 6-8 months later, they're like, yeah, you
• 26:27
  know what, Actually, we're we're just going to take all of EU s s
• 26:30
  Bitcoin. You got to remember the most
• 26:33
  amount of Bitcoin is in the United States and who is the
• 26:37
  biggest benefitor of the Cantalon effect of the money
• 26:40
  printer? It is the US.
• 26:42
  And so I don't think it's far fetched to say that this is a a
• 26:45
  a non zero chance that this is a possibility of it happening.
• 26:47
  Now, personally, as an American, I would I would hate to see
• 26:51
  this. I think it would be a complete
• 26:52
  devastation and 180 on what America was built on.
• 26:56
  But again, the history of governments has shown that this
• 26:59
  is what they do when they're backed into a corner.
• 27:02
  Now, the ultimate capitulation would obviously be turning on
• 27:04
  the money printer to buy Bitcoin and then that would, I think,
• 27:08
  completely cement the view that the US dollar is the most
• 27:12
  stable, you know, strongest, best thing to be holding right
• 27:15
  now. So I don't think we're there
• 27:17
  yet. But and, and to your point, I
• 27:19
  don't think we're there yet necessarily on, you know, 61-O2
• 27:23
  order. But This is why we constantly
• 27:24
  talk about it. You need to be taking your
• 27:26
  Bitcoin into custody. This is the only way to survive
• 27:28
  something like this. So that you are mobile now, is
• 27:31
  that what's going on? Who knows?
• 27:34
  Obviously we're paranoid Bitcoiners here.
• 27:36
  So this is, you know, what we constantly bring up just to be
• 27:39
  aware of this is a possibility. But yeah, it's it is interesting
• 27:44
  to see that there is a fork in the road.
• 27:46
  Some people, some countries rather are saying like we're
• 27:49
  going to acquire Bitcoin like everyone else, mine it or buy
• 27:53
  it, which is again, the ethical way to buy this or acquire this
• 27:56
  Bitcoin. And then the other ones, the,
• 27:58
  the more control freaks out there.
• 28:01
  They're like, we're just going to take our citizens Bitcoin.
• 28:03
  And this is what makes me feel weird.
• 28:05
  This is what terrifies me. This is the stuff that keeps us
• 28:07
  up at night. It's like, remember all of last
• 28:10
  year? Are we going to have to leave
• 28:11
  the US? Like that would be one of those
• 28:13
  pivoting pivotal moments where like, yeah, we we got to
• 28:16
  definitely get out of here. So hopefully that's not where
• 28:19
  we're going. But you never know.
• 28:21
  You just 100% never know. And I I see you have the updated
• 28:24
  chart there. I do so we can see here in
• 28:28
  total, Arkham Intelligence is estimating that the UAE is
• 28:34
  holding 9300 Bitcoin, which would put them nearly just
• 28:40
  behind the Kingdom of Bhutan. But I think this kind of ties
• 28:43
  into what you were just saying, Opti, A lot of people are like,
• 28:46
  shoot, am I going to have to leave my European country?
• 28:49
  I mean, we've got the UK writing white papers on confiscating
• 28:53
  savings. We've got the EU pushing forward
• 28:56
  with a CBDCA. Lot of people asking the
• 28:59
  question, should I stay in America?
• 29:01
  Should I stay in Europe? Should I stay in the UK?
• 29:03
  Should I stay in Australia? No, you shouldn't.
• 29:06
  And again, a lot of people are saying where should I move?
• 29:09
  I think a really simple rule of thumb is move to a country that
• 29:12
  holds Bitcoin. I mean, if they hold Bitcoin
• 29:14
  publicly, that's a pretty good litmus test of how desperate
• 29:19
  they're going to have to be in the future.
• 29:22
  Because the reason we're seeing all of this desperation in
• 29:25
  France, Canada, Australia, for example, in Australia right now,
• 29:29
  we're now introducing a bedroom tax.
• 29:32
  So if you have a spare bedroom and if you have a four bedroom
• 29:34
  home and you only have three people registered by the
• 29:38
  government living in that house, you have to pay a bedroom tax
• 29:41
  for that spare bedroom. That's crazy.
• 29:44
  It's just insane. We've got France talking about
• 29:47
  citizenship based taxation. We've got Canada trying to
• 29:50
  change their tax laws. Australia's changing their tax
• 29:53
  laws. Spain has a wealth tax.
• 29:55
  The reason why all of these heavily indebted Western nation
• 30:00
  states are making insane laws like this is purely because they
• 30:04
  have too much debt. And economically, all of the
• 30:07
  billionaires and millionaires are leaving those countries.
• 30:10
  And it's just creating this kind of feedback loop where a
• 30:13
  government's just going to have to snatch as much wealth as
• 30:16
  possible. But of course, if you've got
• 30:18
  Bitcoin on the balance sheet, I think in the majority of cases,
• 30:22
  obvious caveats being Ukraine and North Korea and China, of
• 30:27
  course, I think having a look at an ascending country like El
• 30:31
  Salvador or maybe Dubai, the Middle East, the UAE, these
• 30:36
  could be good options to keep an eye on because taking a stake on
• 30:40
  Bitcoin early is probably an indication that the government
• 30:43
  is thinking rationally. So again, maybe you don't move
• 30:47
  to North Korea. Just my opinion.
• 30:48
  I don't think you can I. Don't think you can.
• 30:50
  Actually, So yeah, you can't check out El Salvador.
• 30:54
  I think it's cool. I mean, as I was joking with
• 30:56
  you, Luke, you know, but if, if things do hit the wall, I think,
• 31:00
  I think being a second class citizen as a foreigner in the
• 31:04
  UAE might be better than anywhere else at this point that
• 31:09
  that's a joke. Guys.
• 31:09
  If you, if you don't know, well, it's really kind of, you know,
• 31:12
  half joke. Like if you are, you know, a
• 31:15
  foreigner and you move to the UAE, you're, you really don't
• 31:17
  have like the voting rights as like a, a native person there.
• 31:21
  And that's why I'm saying it's probably better to be a second
• 31:23
  class citizen in that country when they're embracing Bitcoin
• 31:26
  than it is in a country that is attacking Bitcoin.
• 31:29
  So it is interesting, man, Like the nation state stuff is
• 31:32
  getting crazy. I was literally on the phone
• 31:35
  this morning with one of my buddies.
• 31:36
  You guys probably know him, but I don't want to dox him this
• 31:39
  morning. But we were, we were on the
• 31:41
  phone and we were talking about just like, man, how crazy is it?
• 31:44
  I haven't kind of, I hadn't caught up with him in a couple
• 31:46
  of weeks. And obviously the conversation
• 31:49
  was we're winning. But it was also like, man,
• 31:51
  things are speeding up. Like things are getting a little
• 31:55
  little crazy, like almost way too fast if you really think
• 31:59
  about it. And if you are not prepared, you
• 32:02
  will get blindsided. This is why we constantly say,
• 32:05
  guys, the most important thing to be doing is of course,
• 32:08
  getting your capital into Bitcoin, but then getting it off
• 32:11
  the exchange. If you are not taking your
• 32:14
  Bitcoin off the exchanges, you are only halfway done on what
• 32:18
  you're supposed to be doing. What rather what you need to be
• 32:21
  doing? It's not supposed to what you
• 32:22
  need to do to protect yourself. And then further, you know,
• 32:26
  there's a lot of debates on running nodes and stuff
• 32:27
  recently. That's like the I think, I think
• 32:30
  that's the final thing you need to do is not only take your
• 32:32
  Bitcoin off the exchange, but you need to verify that what
• 32:36
  you're receiving is real Bitcoin like that.
• 32:39
  I and I know this is going to get me in hot water eventually,
• 32:42
  but like that's what it means to be a true Bitcoin.
• 32:44
  You're currently now, I think at a certain point we'll get to
• 32:47
  like this tipping point where not everyone's gonna be running
• 32:50
  a node, but I do think everyone will be taking Bitcoin into
• 32:53
  custody. I know not everyone wants to,
• 32:56
  but I think we'll get to that point where people are using
• 33:00
  Bitcoin peer-to-peer. And that's where you dude,
• 33:03
  you're getting trolled right here, Luke.
• 33:07
  That's where we need to kind of shift the Overton window for
• 33:11
  people is you want, you got to get comfortable holding Bitcoin,
• 33:13
  especially when the nation states are starting to dip their
• 33:16
  toes into Bitcoin or rather making a huge splash in Bitcoin.
• 33:20
  You know, there there is, as I was said earlier, there is,
• 33:23
  there is a, a very, very huge predator, apex predator lurking
• 33:27
  in the darkness of the waters that we're swimming in right
• 33:30
  now. But at least you have your
• 33:32
  little floaties, which is your Bitcoin in cold storage under
• 33:35
  your keys backed up on on titanium so that you can protect
• 33:39
  yourself if it shit ever hits the bag.
• 33:41
  So you have your bug out bag and everything.
• 33:43
  So crazy stuff going on right now.
• 33:46
  It it does make me feel like this year is not over guys.
• 33:50
  I know we're eight months in the year, but I don't think this
• 33:53
  year's over. I don't think we can clock 2025
• 33:56
  as a as a bad year in in terms of Bitcoin again, it's been a
• 34:00
  the most bullish year in terms of news.
• 34:02
  I think the price is going to catch up here very soon and you
• 34:05
  do not want to be on the sidelines right now.
• 34:08
  So let me see. News to cover here in a minute,
• 34:13
  Opti, but do you think that we should probably save that for
• 34:15
  later? Yeah.
• 34:16
  Are you sticking around for a minute?
• 34:18
  I know you had to run. It's been 30 minutes already.
• 34:20
  I've got to run in 7 minutes. All right, do you want it?
• 34:23
  We well, I do have a video, but no, just do you.
• 34:25
  Let's do the story you have. Let's add that more bullish news
• 34:28
  and then I'll I'll do the rest of the show.
• 34:30
  Yeah. So I just think like, I think
• 34:33
  2025 is probably going to surprise a lot of people because
• 34:37
  I think a lot of people are drawing stupid lines on chart.
• 34:40
  I think a lot of people are saying, OK, we have three data
• 34:42
  points on a line to suggest that Bitcoin is following a power
• 34:46
  law. And a lot of people are kind of
• 34:48
  setting themself up, I believe, to potentially wreck themselves.
• 34:53
  So I've kind of said from day one, I think more people are
• 34:56
  going to lose money by being too bearish than to be too bullish.
• 35:01
  Now, again, why does that make sense?
• 35:03
  I've had people tell me that Luke, by being too bullish,
• 35:06
  you're being irresponsible, you're going to get people hurt.
• 35:09
  I, I don't know how that can be true because I've never told
• 35:13
  anybody to leverage trade Bitcoin.
• 35:14
  But what I have told people to do is just don't sell Bitcoin
• 35:18
  ever. But it definitely don't sell too
• 35:20
  soon. And I think a lot of people are
• 35:22
  going to people, a lot of people are going to sell Bitcoin too
• 35:25
  soon because of this chart. Again, a lot of people are
• 35:28
  saying, oh, we're going to be two standard deviations above a
• 35:32
  power law at, you know, 200K Bitcoin.
• 35:36
  And I just think a lot of people are going to end up getting
• 35:38
  wrecked by selling Bitcoin too soon.
• 35:40
  And I think, again, I think the 2017 bull run provides a little
• 35:45
  bit of, I'm not going to say a blueprint because to Chef
• 35:49
  Tommy's point in the chat, we are not chat boys.
• 35:52
  We're never going to put lines on charts and tell you where the
• 35:56
  price of Bitcoin is going because absolutely nobody knows
• 36:00
  where the price of Bitcoin is going.
• 36:02
  Especially if a kid with this terrible haircut tells you he
• 36:05
  knows where the price of Bitcoin is going.
• 36:07
  We have no idea. But again, I just caution people
• 36:10
  to just prepare themselves for every situation and scenario.
• 36:14
  Most people in Bitcoin today weren't hearing 2017 and all I'm
• 36:18
  going to say is I just think we haven't seen a real bull run in
• 36:21
  eight years now. And I think a 2017 model where
• 36:25
  Bitcoin 20X in nine months is a lot more likely than most people
• 36:31
  think. I think again, we went from 1K
• 36:35
  to 20K in nine months. If Bitcoin did the same thing in
• 36:38
  nine months and go from 100K to 2,000,000 by what, March or
• 36:43
  April 2026? I think most people are saying
• 36:45
  that's absolutely impossible. It's never going to happen
• 36:49
  again. I'm not saying it's my most
• 36:50
  likely base case, but I am saying there's a good 20 to
• 36:54
  maybe 25% chance we see something like that really face
• 36:59
  melting Bitcoin bull run. So again, that's the kind of
• 37:02
  bullish shot I wanted to walk through there.
• 37:04
  I'd love your thoughts on this. I'm actually, I, I'm kind of sad
• 37:09
  you're not going to be on the whole show with me because I am.
• 37:11
  I'm also going to give some opium to wrap up the show.
• 37:14
  But yeah, that's, this has been my case for a while.
• 37:17
  Look, I know it's been a slow start of 2025.
• 37:21
  And I think the disbelief we're feeling right now, kind of like
• 37:25
  the, I, I don't want to say emotional trauma, but you know,
• 37:30
  the, the, the low morale that we're currently seeing around
• 37:34
  Twitter, as much as I'm feeling it like everyone else, it does
• 37:38
  make me feel that this is when things start to pump.
• 37:42
  Like when you start feeling like, man, why am I holding this
• 37:45
  thing? You know, why, why are we just
• 37:47
  trading the S&P 500? That's usually when Bitcoin
• 37:50
  starts ripping. And so I'm, I've been saying
• 37:53
  for, I don't know, over a year now, like the 253100K2 to 300K
• 37:58
  seem like an easy, easy run up. Again, I've been wrong on this
• 38:02
  in the past, but with all of this new news coming out, I
• 38:07
  think you do have a point. Like 2026 to 27 to 28.
• 38:12
  I think those are going to be some game changing years.
• 38:15
  Even though there potentially could be some draw downs like I,
• 38:18
  I'm, I'm kind of leaning into the we're going to get bored to
• 38:21
  death to $1,000,000 like metric right now.
• 38:24
  That meme is where I'm leaning towards because that's what's
• 38:28
  going on. You know, you pump you, you
• 38:30
  dump, you crab, you pump, you dump you crab.
• 38:33
  It's like that's where that's what we're dealing with right
• 38:36
  now. But I know there has been a lot
• 38:39
  of talk about no more parabolic runs.
• 38:42
  I just, I don't, I don't see that happening.
• 38:44
  Remember the numbers here, the statistics are just that, that
• 38:47
  the math isn't math in guys. The world capital that has found
• 38:51
  Bitcoin is what, .2%? We know institutions are coming
• 38:55
  in, basically 99% of their capital hasn't even found its
• 38:59
  way into Bitcoin. We're just starting to see that
• 39:02
  nation states are accumulating and you're telling me we're not
• 39:06
  going to have a parabolic run When you go outside and you talk
• 39:09
  to people and no one holds Bitcoin, just makes no sense to
• 39:13
  me. Makes no sense to me.
• 39:14
  Anyways, Luke, I know you got to run, so thanks for showing up
• 39:17
  with me. Thanks for doing this first part
• 39:19
  with me guys we'll see Luke soon and you're stuck with me the
• 39:23
  rest of the show. So you already know the deal.
• 39:26
  All right guys, I do want to remind you guys before I keep
• 39:30
  going smash the like button comment on this video.
• 39:33
  What do you guys think of this show and of course, hit the
• 39:36
  subscriber button somewhere up there and join us on this ride.
• 39:40
  You're you're going to get the best content, the most content.
• 39:43
  We are winning in this Bitcoin mimetic war that we are a part
• 39:49
  of. Anyways, on that note, I do want
• 39:50
  to give a huge shout out to our boys over at Bitcoin.
• 39:52
  Well, the best place to buy your Bitcoin because they send it to
• 39:57
  you directly when you get your money to them, it goes directly
• 40:02
  into cold storage. And This is why we love them
• 40:05
  guys. They will never rug pull your
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  Bitcoin. They can never rug pull your
• 40:07
  Bitcoin. This is the way to get your
• 40:10
  Bitcoin. Of course, scan the QR code
• 40:12
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• 40:15
  And when you scan your QR code, you have three chances to win a
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  million sets. Now if you are someone sitting
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  on the sideline, make sure you get in touch with the Bitcoin
• 40:23
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• 40:26
  glove service to buy $50,000 or more of Bitcoin at one time, but
• 40:30
  they won't just sell you the Bitcoin.
• 40:32
  They're going to make sure that you're securing this Bitcoin for
• 40:35
  generational wealth. All right guys, on that note, I
• 40:38
  got, I got some interesting stuff.
• 40:39
  We got a new clip from Larry Fink about his turn on Bitcoin
• 40:43
  and why he changed his mind. And then we got some more
• 40:46
  interesting stuff coming out of the US in regards to debacle
• 40:50
  debate, some firings at the Fed, some interesting stuff happening
• 40:54
  And then I'm going to wrap up the show with some bullish
• 40:56
  stuff. I I got to give myself some
• 40:58
  opium here on the show, guys. Maybe it's some copium on the
• 41:00
  show, but we're going to we're going to talk where we are in
• 41:03
  this cycle. Is it over or has it just begun?
• 41:07
  All right, we'll be back in one minute.
• 41:15
  I want to give a shout out to our partner Stamp Seat.
• 41:18
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  Your words are actually stamped into the titanium plate with
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  titanium seed plates. You can upload your design or
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• 42:28
  Alrighty then guys, I am back solo Dolo, it's been a minute
• 42:33
  it's been a minute since I've done a solo show I've been
• 42:36
  actually tell me in the chat. Do you think Opti can run a solo
• 42:38
  show? You you think that would be a
• 42:40
  good show? I've been I've been thinking
• 42:41
  about that experiment for a minute anyways, I'm over here on
• 42:45
  Clark pretty dashboard and wow look at the price.
• 42:49
  OK here we are the current Bitcoin price is 109,840.
• 42:54
  Actually I'm going to drop a poll right now.
• 42:56
  Let me do a poll on YouTube. If you're on Rumble, then you
• 43:00
  can just comment because they don't have a poll.
• 43:02
  But the poll question is will we see Bitcoin under 100K?
• 43:11
  Let me know in the poll on YouTube or in the chat on
• 43:15
  Rumble. Or if you're on Twitter, just
• 43:17
  comment. OK, so we are dropping currently
• 43:21
  AT109800 per Bitcoin. The block height IS911811911811
• 43:29
  and the market cap is 2.19 trillion.
• 43:32
  We man, we're bleeding right now.
• 43:33
  Remember when we had the $2.4 trillion market cap like a week
• 43:37
  ago? Yeah, it's been fun.
• 43:39
  Anyways, the decline from all time high was or is currently
• 43:43
  -11.7%. It is on an 11% discount.
• 43:47
  So if you like Bitcoin at all time high, you should love
• 43:50
  Bitcoin at an 11% discount. Absolutely.
• 43:57
  Fun times. Super fun times.
• 43:58
  All right, guys, as I was telling you so this hit our
• 44:01
  radar when kind of, you know, semi viral on Twitter.
• 44:05
  Larry Fink did a new interview. It was actually kind of slept
• 44:08
  under the radar. This was posted a week ago on
• 44:12
  this Legends Live, a Citibank interview, I believe it was, and
• 44:16
  I saw this clip, but this clip was only one minute.
• 44:20
  And so I went to the full video. I, you know, I, I browsed
• 44:24
  through the video and I finally found the portion of the where
• 44:28
  they talk about this. So it is like a 2 1/2 minute
• 44:30
  clip, but I do think there's some interesting stuff.
• 44:33
  I did clip the beginning of it and basically what the
• 44:36
  interviewer was saying is like, hey, you brought up stablecoins
• 44:39
  like what, what was your pivot into digital assets?
• 44:42
  And then this is where the clip happened.
• 44:44
  And then we'll we'll chat about it and I'll point out a few
• 44:46
  different things. One of my most quotes that are
• 44:51
  repeated the most. I was on a panel in Washington
• 44:54
  with Jamie Dimon and he was pissing all over Bitcoin and I
• 44:59
  piled on and said Bitcoin is the currency for money launderers
• 45:03
  and thieves. So I did say that in 2017 and
• 45:09
  but during COVID, when I had more free time to think about, I
• 45:16
  actually went on a journey and I talked to a lot of people who
• 45:21
  who were true believers. I met this woman from
• 45:27
  Afghanistan who uses Bitcoin to pay women workers in
• 45:36
  Afghanistan. And the Taliban, you know,
• 45:38
  forbids, forbids women to work. And the banking system was
• 45:42
  controlled by the Taliban. But she was using Bitcoin to
• 45:45
  reward women. And I was just learning all the
• 45:48
  different applications, and I came to the view that there's a
• 45:52
  lot of legitimacy with Bitcoin. Certainly the technology around
• 45:57
  the blockchain around Bitcoin was pretty unrivalled and it
• 46:01
  still is. And I became a believer in, in
• 46:07
  a, you know, not like it's going to be a currency, but I believe
• 46:10
  that there's a role for it like like digital gold.
• 46:15
  And since most of Blackrock's business is based on long
• 46:19
  termism, and I always raise the question, why would anybody
• 46:23
  invest in a 20 or 30 year outcome unless you're, you
• 46:26
  believe the 20 or 30 year outcome is going to be good.
• 46:30
  Because if you didn't believe in the over a 2030 year horizon
• 46:33
  that you're going to that those long term investments would be
• 46:35
  better, you would keep all your money in a bank account or in a
• 46:38
  mattress. And so, you know, all our
• 46:41
  business is based on hope. And I said, you know what?
• 46:44
  Bitcoin is a currency of fear. You own Bitcoin because you're
• 46:48
  frightened of your security in your country.
• 46:50
  You own Bitcoin because you're frightened of the debasement of
• 46:53
  your currency and, and, and you know what?
• 46:56
  Interesting. Despite that it's illegal for
• 46:59
  Chinese to own Bitcoin, 20% of all Bitcoin ownership is
• 47:03
  Chinese. Exactly, but you want to make
• 47:05
  sure no one hacks your wallet. Yeah, I guess so.
• 47:08
  But but so it's an evolution and I'm proud of being admitting
• 47:13
  that. OK, I was wrong and now I'm.
• 47:15
  Yeah. To me, this is the experience.
• 47:17
  You grow and learn and you make mistakes and.
• 47:21
  Interesting. All right, so look, he does
• 47:24
  sound sincere, but I do want to ask the chat.
• 47:27
  Do you think he's being sincere here?
• 47:30
  That's probably the real question here or is he kind of
• 47:33
  talking his bag, which I would argue he probably is.
• 47:36
  But anyways, there are some interesting points in this.
• 47:39
  The first one is you know, he said as actually someone in the
• 47:42
  chat said it the best main point, you need free time to
• 47:47
  learn Bitcoin. Honestly, hit the nail on the
• 47:50
  head here. They're like, once you're going
• 47:53
  through the rat race, you do have to have some downtime or
• 47:55
  rather maybe some conviction or maybe some problem in your life
• 47:58
  and you look into Bitcoin and then you understand, oh, wait,
• 48:01
  this thing can improve my life. So maybe, you know, giving him
• 48:05
  the benefit of the doubt here, which maybe I shouldn't, He did
• 48:07
  say, you know, I talked to some true believers here and they
• 48:10
  fundamentally shifted my point of view here.
• 48:12
  Though it is funny of him talking about with Jamie Dimon,
• 48:15
  him piling on calling it what the it's money laundering for
• 48:20
  thieves and whatever over all the bad things he said about
• 48:23
  Bitcoin. Now he's finally seen the light.
• 48:25
  Now as much as I want to be cynical, we have seen a lot of
• 48:29
  people make that pivot, most famously it probably Michael
• 48:31
  Saylor. So I am open to the idea that
• 48:35
  this is sincere and this is actually what he believes.
• 48:37
  Though kind of knowing Larry Fink and his track record, it
• 48:43
  does seem like a a good public kind of bending of the knee.
• 48:47
  We all know now he is at the Co interim of the World Economic
• 48:51
  Forum, which you know, for for us Bitcoiners really makes us
• 48:56
  feel uncomfortable. But anyways, that's just kind of
• 48:58
  the overall view of what he said.
• 49:00
  The part that I found the interest most interesting of
• 49:03
  this was when he started talking about Bitcoin as a currency.
• 49:07
  I don't know if you guys caught that, but he said like, I don't
• 49:10
  think Bitcoins going to be a currency.
• 49:12
  It's more like digital gold. And then literally less than one
• 49:15
  minute later he started calling it a currency of fear, a
• 49:19
  currency of, you know, basically saying it's freedom.
• 49:22
  So he does kind of wrap his head around what Bitcoin is like.
• 49:26
  If you are afraid of your country stealing your assets,
• 49:30
  stealing your money, then yes, you should buy.
• 49:32
  But Bitcoin, if you like everyone on planet earth,
• 49:36
  realize that your country is going to debase your currency,
• 49:39
  debase your money, then you should probably buy Bitcoin.
• 49:42
  But it is interesting. Within 30 seconds he's like,
• 49:44
  look, Bitcoin's not a currency, but actually, you know, it's
• 49:47
  it's a currency of fear. It's it's a currency of
• 49:50
  protection here. It's a currency of freedom.
• 49:52
  So even if he is sincere here, it doesn't seem like he's being
• 49:57
  totally consistent here. It's much Bitcoin is much more
• 50:00
  than just digital gold, as we like to say.
• 50:02
  It's the best money in the world.
• 50:03
  There's no better money than Bitcoin.
• 50:05
  Yes, you could say it's digital money.
• 50:07
  I can't hold it. How's it real money, whatever.
• 50:09
  Like that's besides the point. Your, your dollars are already
• 50:12
  digital. Your Fiat currencies are already
• 50:14
  digital. You just don't understand the
• 50:15
  piping, the plumbing of the traditional financial system.
• 50:18
  So I found that very interesting that within 20 seconds or
• 50:22
  something like that, like that, he completely kind of neutered
• 50:25
  his his own statements there. It's like it's not a currency,
• 50:29
  but it's a currency of fear. It's a currency of debasement
• 50:32
  protection. It sounds like he is kind of
• 50:36
  rolling out the kind of the foundation for fully embracing
• 50:40
  Bitcoin. But also we all know the
• 50:43
  BlackRock I bid ETF is the best performing ETF ever.
• 50:48
  It's one of the best performing products, if not the best
• 50:51
  performing products for BlackRock.
• 50:52
  So it is interesting that once he's able to profit off of this,
• 50:57
  he's embracing it. You know, I, I'm seeing a little
• 51:01
  bit of the hypocrisy here, but you know, again, he does sound
• 51:04
  sincere here. I I'll give him the benefit of
• 51:06
  the, of the doubt in this in this regard.
• 51:09
  I know, I I know. I troll Bitcoiners.
• 51:12
  Larry is one of us. I, I know, I know.
• 51:16
  I told a lot of Bitcoiners of being bad at orange peeling.
• 51:20
  But maybe, maybe we finally got one.
• 51:22
  We got Elaine. He's not sincere.
• 51:23
  He's playing those who are weak. This guy lived on the ruined
• 51:26
  sorrow and death walk. Look, I, I tend to agree with
• 51:30
  you, but the point that he was saying about hope, remember
• 51:34
  hope.com by Sailor is Bitcoin. And as an investor, again, as we
• 51:39
  always say, invest incentives do drive kind of a lot of people's
• 51:43
  morality. If you are one of the biggest
• 51:46
  asset holders in the world and you're looking for 20 to 30 year
• 51:50
  investments, it's hard not to look at Bitcoin and be like,
• 51:53
  yeah, this is this is the best investment for the long term.
• 51:56
  Whether they just think of it as an investment or like us, we
• 51:59
  think it's the best money. It's going to be the future of
• 52:01
  money. I think, you know, these the
• 52:04
  incentives are aligning. He is looking towards the future
• 52:06
  and realize, yeah, Spios systems probably not in a good place.
• 52:11
  And as I've been saying for a long time, even our worst
• 52:14
  enemies, the the very people that Bitcoin was designed to
• 52:17
  disintermediate, if they understand what is going on, if
• 52:20
  they see the world as we do, then they need a money just as
• 52:25
  much as we do, if not more. They have a lot more to protect.
• 52:28
  So I could see the incentives aligning.
• 52:30
  Here again, I'm being, I'm being less cynical than I usually am,
• 52:34
  but it I don't know it, it does. On the one hand, if you're yeah,
• 52:39
  if you're afraid of 0 of if you're not, if you're afraid
• 52:42
  that Fiat is going to 0, then buy Bitcoin.
• 52:45
  He's not wrong, dude. Look, he's, he's talking our
• 52:50
  bags here. He's he look, I don't think
• 52:53
  Larry Fink is a bitcoiner per SE like we are, but he's saying all
• 52:57
  the right things. Skin marketing.
• 53:00
  I don't know, guys. Let me, let me see if Rumble.
• 53:03
  Let's see, Fiat Maxis just can't come to terms with the fact that
• 53:06
  everything they've always believed about their money is
• 53:08
  wrong. I mean, he it's almost like he
• 53:11
  said that he realized he was wrong.
• 53:13
  I don't know, maybe, maybe I need to be a little more cynical
• 53:16
  for you guys. But yeah, guys, hope.com, it's
• 53:21
  it's a Bitcoin thing. So Bitcoin does have the ability
• 53:24
  to change a lot of people's minds.
• 53:25
  As a meme goes, you don't change Bitcoin.
• 53:26
  Bitcoin changes you even if you have a, you know, a rotten heart
• 53:32
  might bring your art back to life.
• 53:35
  I'm trolling. I'm trolling.
• 53:36
  All right, guys, I do want to move into the news.
• 53:38
  We have an interesting saga coming out of the Federal
• 53:41
  Reserve. And before we cover this, I did
• 53:43
  see some people saying like, I never thought I'd get to the
• 53:46
  date where I see Bitcoiners cheerleading the Fed.
• 53:49
  This is not what's going on. We are just covering the news as
• 53:52
  it affects economics and finances.
• 53:55
  And there's a very interesting shake up going on in the Fed,
• 53:58
  which if it goes in in Donald Trump's favor, which I think it
• 54:02
  is, rate cuts coming, boys and girls, AKA money printer is
• 54:07
  coming, AKA easy money, which means the eminent bull run is on
• 54:13
  the horizon. So I'm I'm here for the bull
• 54:15
  runs, guys. I'm all for the bull runs.
• 54:16
  Anyways, let's get into the news.
• 54:20
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  15% off anything on the store. Oh, sorry, guys.
• 56:12
  I got distracted. Good, good comment by Soshi
• 56:14
  Satoshi. I want to live in the kumbaya
• 56:16
  world. All right, all right, all right,
• 56:20
  I'm getting roasted. OK All right.
• 56:22
  Anyways, today saga is involving the Fed.
• 56:25
  So if you were on Twitter last night, you probably saw this.
• 56:29
  I I don't know if this hit mainstream media yet, but it is
• 56:32
  hitting the rounds on Twitter. So zero hedge tweeted Trump
• 56:36
  fires fed Governor Lisa Cook and here is the post that is going
• 56:41
  around Doctor Lisa D Cook, member of the Board of Governors
• 56:44
  United States Federal Reserve System.
• 56:46
  Dear Governor Cook pursuant to my on this coming from Donald
• 56:49
  Trump pursuant to my and there's maybe some speculation of this
• 56:53
  being like one of those auto stamps, but that's that's for a
• 56:57
  totally different conversation. So pursuant to my authority
• 56:59
  under Article 2 of the Constitution of the United
• 57:01
  States and the Federal Reserve Act of 1913 as amended, you are
• 57:06
  hereby removed from your position on the Board of
• 57:08
  Governors of the Federal Reserve effective immediately.
• 57:11
  You heard that right. Trump just fired a Fed board
• 57:14
  member, Fed Governor, the Federal Reserve Act provides
• 57:18
  that you may be removed at my discretion for, for 'cause
• 57:21
  that's the big, that's the big asterisk here for cause.
• 57:24
  And I have determined that there's sufficient cause to
• 57:27
  remove you from your position. And here is kind of the case as
• 57:30
  set forth in the criminal referral dated August 15th,
• 57:33
  2025, from Mr. William J Poole, Director of the Federal Housing
• 57:37
  Finance Agency, to Miss Pam Bondi, Attorney General of the
• 57:41
  US. There is sufficient reason to
• 57:43
  believe you have made false statements on one or more
• 57:45
  mortgage agreements. For example, as detailed in the
• 57:48
  criminal referral, you sign one document attesting that a
• 57:51
  property in Michigan would be your primary residence for the
• 57:54
  next year. 2 weeks later, you sign another document for a
• 57:56
  property in Georgia stating that it would be your primary
• 57:59
  residence for the next year. It is inconceivable that you are
• 58:02
  not aware of your first commitment when making the
• 58:04
  second. It is impossible that you
• 58:06
  intended to honor both. the Fed Reserve has tremendous
• 58:09
  responsibility for setting interest rates and regulating
• 58:13
  Reserve and member banks. The American people must be able
• 58:17
  to have full confidence in the honesty of the members entrusted
• 58:20
  with settling policy and overseeing the Federal Reserve.
• 58:24
  So a few interesting things here.
• 58:26
  One the for 'cause it looks like she did, you know, some form of
• 58:30
  mortgage fraud and it is going to case here.
• 58:34
  Now, I think the more interesting aspect of this is
• 58:38
  that last sentence I read. The Federal Reserve has
• 58:41
  tremendous responsibility for setting interest rates, which
• 58:45
  is, of course, one of the biggest things that Trump has
• 58:47
  been nagging Jay Powell about. He's been talking about this for
• 58:51
  a while. We all know publicly, they keep
• 58:55
  saying we want a strong dollar, we want U.S. dollar dominance.
• 58:58
  But in their actions, they are doing a few things.
• 59:02
  Of course, they want to weaken the dollar and lowest interest
• 59:05
  rates so that free money, or rather easy money can flow so
• 59:08
  that people will invest. And of course, while more people
• 59:11
  take out loans, they can expand the money supplied and try to
• 59:15
  inflate their way out of this. Now, before I go into the saga a
• 59:18
  little more, this part is very interesting to me.
• 59:21
  The American people must be able to have full confidence in the
• 59:25
  honesty of the members and trusting with setting policy and
• 59:28
  overseeing the Federal Reserve. If you've been a simply Bitcoin
• 59:33
  viewer, if you've been one of the fam that hangs out with us
• 59:35
  every single day, you know, I've been staying on this show for a
• 59:38
  long time. What is going on is a lot of,
• 59:43
  you know, the erosion of trust in these institutions.
• 59:47
  And this, you can argue, is just kind of a narrative trench
• 59:52
  warfare scenario where they realize they're they're losing
• 59:55
  trust in these institutions, not just in the Federal Reserve, but
• 59:58
  all institutions at large. And they have to try to reassure
• 1:00:02
  the the trust in these institutions and remember Fiat
• 1:00:05
  money. By definition is money by
• 1:00:07
  decree, which means you have to trust that the government is
• 1:00:11
  going to control the money in a way that benefits you.
• 1:00:14
  If they are losing that trust, if people stop trusting the
• 1:00:18
  Federal Reserve and people opt out of their money, that's when
• 1:00:21
  the scam is exposed. Hence, I find it interesting
• 1:00:25
  that they specifically said the American people must have trust
• 1:00:29
  in you guys. And This Is Us trying to
• 1:00:31
  reassure, reassure that trust. You know, maybe it's a, a small
• 1:00:36
  little tidbit here, but I think that's a huge tell of what's
• 1:00:39
  going on. Now going further, we have Joe
• 1:00:42
  Consorti. And just like that, the
• 1:00:45
  president has fired a voting Fed member for the first time in
• 1:00:48
  history. The White House has never been
• 1:00:50
  this adamant about exerting influence over the US central
• 1:00:53
  bank. Fiscal dominance accelerates.
• 1:00:56
  Weimar beckons. So getting into a little more of
• 1:01:00
  the details here we have Mario Narwhal.
• 1:01:03
  Narwhal right here is where it gets more interesting.
• 1:01:09
  The 1913 Federal Reserve Act permits removal only for cause,
• 1:01:13
  which it seems he has historically, meaning serious
• 1:01:16
  misconduct and not policy disputes.
• 1:01:18
  Yet Trump has raged against the Fed refusal to slash interest
• 1:01:21
  rates. If this is successful, Trump
• 1:01:23
  gains A43 board majority, fundamentally reshaping monetary
• 1:01:29
  policy. So it seems like she's fired,
• 1:01:33
  though she is contesting this. She says the president has no
• 1:01:37
  authority to fire her and she will continue to carry out her
• 1:01:40
  duties. It does sound like he has for
• 1:01:42
  cause, which is under the Federal Reserve Act of 1913
• 1:01:47
  'cause to fire her, he can actually fire her whether she
• 1:01:50
  thinks he can or not. It seems like he has cause and
• 1:01:54
  can fire her. Now, if this is the case and she
• 1:01:57
  is completely out, of course, this happened last night.
• 1:01:59
  I'm sure it does seem like she's fired.
• 1:02:01
  It looks, it seems like she's out.
• 1:02:03
  I'm sure the next person Trump will point will obviously be a,
• 1:02:07
  a Trump acolyte here, you know, whatever you want to call them,
• 1:02:11
  someone that is in favor of what Trump is trying to do, someone
• 1:02:14
  that he can tap on and vote in his direction.
• 1:02:17
  It seems like the inevitable rate cuts are on the horizon and
• 1:02:23
  the more they cut interest rates.
• 1:02:24
  Of course, the last time they did this, Bitcoin pumped 70%
• 1:02:27
  free money, or rather I, I keep saying free money, but that
• 1:02:30
  keeps reminding me of the money printer.
• 1:02:32
  Easy money is back on the table, which means more liquidity,
• 1:02:36
  which means that assets are going to go absolutely
• 1:02:41
  skyrocketing. So now is the time to be buying
• 1:02:44
  assets and of course we as Bitcoiners believe that the best
• 1:02:48
  asset to buy is Bitcoin Now very interesting other development or
• 1:02:53
  other kind of Ripple Rick wrinkle in this conversation is
• 1:02:58
  this idea of the Fed being independent now.
• 1:03:02
  It seems like for better or worse, and I do have another
• 1:03:05
  Supreme Court case that that does kind of lead credence to
• 1:03:09
  the idea that Trump is in control now whether you like him
• 1:03:13
  or not. And the whole, as Nika would
• 1:03:15
  say, administrative state is being neutered in real time.
• 1:03:20
  There is this interesting quote that I saw last night that
• 1:03:24
  presidents have known for a long time that the Fed isn't actually
• 1:03:28
  independent. And that's the myth.
• 1:03:30
  And here's Geiger Capital has a screenshot of a conversation
• 1:03:35
  with Richard Nixon. Remember when Nixon took us off
• 1:03:38
  the gold standard 1971? WTF happened in 1971?
• 1:03:43
  This is I wouldn't say where all our problems started, but this
• 1:03:46
  is when we completely got detached from the world anyways.
• 1:03:48
  President Nixon, the Fed Chair, Arthur Barnes, he goes Bill
• 1:03:53
  Martin there he was always six months too late doing anything
• 1:03:56
  again, sounds very familiar to what Trump is saying about Jay
• 1:04:00
  Powell today. Yes, Mr. President, I don't like
• 1:04:03
  to be late talking about Federal Reserve Chairman Bill Martin and
• 1:04:07
  he goes, the Fed and the money supply are more important than
• 1:04:09
  anything the Bureau of the budget does.
• 1:04:12
  Arthur, I want you to come over and see me privately anytime,
• 1:04:15
  thank you, Mr. President. And then Nixon goes, I know
• 1:04:18
  there's the myth of the autonomous Fed.
• 1:04:21
  And when you go up for confirmation, some senator may
• 1:04:24
  ask you about your friendship with the president.
• 1:04:26
  Appearances are going to be important.
• 1:04:28
  So you can call Earl Earl Lichtman, Earl Lichtman to get
• 1:04:33
  messages to me and he'll call you again.
• 1:04:35
  The myth of an autonomous Fed, an independent Fed.
• 1:04:39
  It's not the case. We know that they are totally
• 1:04:42
  intertwined. And now it is becoming even more
• 1:04:45
  clear that the US, or rather the Trump administration wants to
• 1:04:51
  essentially wholly gain control of the Fed, which you could
• 1:04:54
  argue is a bad thing. You know, there's, there's a a
• 1:04:58
  new trend of like collectivism that's being thrown around
• 1:05:01
  currently, but the argument of whether Trump is even able to do
• 1:05:06
  this is very interesting. When I also saw this earlier in
• 1:05:10
  the day yesterday, You guys know, I'm a fan of Tom Luongo.
• 1:05:14
  I really enjoy his work. I I do like his contrarian takes
• 1:05:18
  and a lot of the things he says does sound logical.
• 1:05:21
  And he tweeted this yesterday. And again, this was before we
• 1:05:24
  got the news of of Trump firing a fed governor.
• 1:05:28
  And he goes and so it begins and he's quote tweeting this tweet
• 1:05:31
  here. Again, I'm not the most
• 1:05:33
  political. I I don't know how all of
• 1:05:35
  politics works. But if this is the case and you
• 1:05:39
  guys can Fact Check me, I do believe this is the case.
• 1:05:42
  We have Paul white gold ego eagle doing a tweet here and it
• 1:05:47
  goes breaking SCOTUS hands Trump total power executive purge
• 1:05:51
  begins now. The Supreme Court just
• 1:05:53
  obliterated the deep state's final line of defense granting
• 1:05:56
  President Trump full authority to fire the heads of quote,
• 1:05:59
  independent federal agencies. No more delays, no more red
• 1:06:02
  tape, no more protection for unelected traders.
• 1:06:05
  The court declared Trump is the executive branch, period.
• 1:06:09
  This is not a quote legal clarification.
• 1:06:11
  This is an all out constitutional reset.
• 1:06:15
  Trump is no longer fighting with one hand tied.
• 1:06:18
  So this happened earlier in the day and then later in the day we
• 1:06:23
  have Trump firing the Fed governor.
• 1:06:27
  Interesting stuff going on here, just to say the least.
• 1:06:30
  Now, I know Jay Powell is essentially out next year, but,
• 1:06:36
  and I doubt that Trump has a four 'cause, you know, clause
• 1:06:41
  here to fire Jay Powell because they're just really fighting
• 1:06:44
  over the interest rate. So as you remember earlier, you
• 1:06:47
  can fire him for cause, but you can't fire him over policy
• 1:06:51
  disputes. Seems like what Jay Powell is
• 1:06:53
  doing with Trump is policy disputes here, but they were
• 1:06:56
  able to fire, what's this girl's name, Lisa Cook here.
• 1:07:00
  And so now it does look like Trump, or rather people in favor
• 1:07:05
  at the Fed to cut interest rates are going to be in positions of
• 1:07:10
  power at the Fed under Jay Powell.
• 1:07:12
  And he's out in, you know, early 2026.
• 1:07:16
  So all that is to say, it seems like Fed cuts, interest rate
• 1:07:21
  cuts are imminent. When they cut the rates, guys,
• 1:07:26
  liquidity goes into OverDrive. Your assets are going to go up.
• 1:07:30
  You want to be stacking Bitcoin. It looks guys, guys, I hate to
• 1:07:34
  say it, hate to say it, but it looks like the Fed might have
• 1:07:37
  just saved the Bitcoin bull run. Maybe Trump saved the bull run
• 1:07:40
  here. Maybe we are getting 150K early
• 1:07:43
  in Trump's presidency. Who knows?
• 1:07:46
  A boy can hope, a boy can wish. So that's, that's the, you know,
• 1:07:52
  the short and the thick of what's going on at the Fed.
• 1:07:56
  Looks like someone got fired. The speculation or rather you
• 1:08:00
  know the very easy kind of take away from this is we are going
• 1:08:04
  to get a new Fed governor, a board member that is in favor of
• 1:08:08
  cutting interest rates. Jay Powell is going to be out
• 1:08:11
  early 2026. Putting all that together, it
• 1:08:14
  looks like we're probably going to get Fed ruts in our Fed rate
• 1:08:18
  cuts in September. And further, if they continue
• 1:08:22
  down this loose monetary policy or rather easing of the
• 1:08:27
  quantitative tightening and increasing the liquidity here,
• 1:08:33
  maybe we don't see a 2026 bear market, guys, I don't know.
• 1:08:36
  I don't know. Yeah, Corolla was right.
• 1:08:38
  Same thing last bull run. A boy can hope.
• 1:08:42
  A boy can hope. 400K till end of year.
• 1:08:46
  Still a play. Yeah, look, let's be
• 1:08:48
  conservative here. Let's just get to like 200,
• 1:08:52
  maybe 300 and then we can talk about 4:44 and everything.
• 1:08:55
  So interesting stuff happening guys.
• 1:08:57
  Very interesting stuff. And, and like I said before this
• 1:09:00
  bit, I'm not here cheerleading the Fed.
• 1:09:02
  As you know, I want to end the Fed.
• 1:09:04
  I, I don't want to replace a, you know, a cancerous tumor with
• 1:09:08
  another cancerous tumor. I don't believe that any group
• 1:09:11
  of people should have control over the money.
• 1:09:13
  This is why I'm a bitcoiner. But again, the reason I've kind
• 1:09:17
  of gotten into macro and seeing what's going on with the Fed is
• 1:09:21
  because we are becoming more intertwined.
• 1:09:24
  And what they do there does affect our market, our industry
• 1:09:28
  here because we're still, we're, we're a pimp people on, on the,
• 1:09:32
  you know, the butt of traditional capital markets.
• 1:09:35
  And so if those markets sneeze, we're going to puke.
• 1:09:40
  If those markets start to get bullish and start pumping,
• 1:09:44
  Bitcoin is also going to pump. I would argue Bitcoin would pump
• 1:09:47
  harder. So as much as we try to not care
• 1:09:51
  about what, you know, 12 people think about the money supply,
• 1:09:55
  what they do does impact every other market and of course our,
• 1:09:59
  our industry, our markets here. So it is a very interesting
• 1:10:02
  stuff coming out of the Fed. I don't know, man.
• 1:10:05
  Yeah, I was promoted. I was also promised $1 million
• 1:10:09
  Bitcoin. Anyways, on that note, I'm, I'm
• 1:10:14
  gonna, I'm gonna wrap up today's show with some some, you know,
• 1:10:16
  some might argue opium, some might argue copium, but I don't
• 1:10:22
  know, man. The more I'm in disbelief of
• 1:10:24
  what's going on right now, the more I'm starting to feel like
• 1:10:27
  we're going to nuke it. Makes me feel like the bull Run
• 1:10:32
  hasn't even started. All right, guys, let's get into
• 1:10:34
  it. I want to give a shout out to
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  our partner Hive Digital Technology.
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• 1:12:37
  Hey guys, thank you. I I can't pull it up.
• 1:12:40
  I I missed it, but thank you to Ben Rizzo, Overton window drink
• 1:12:46
  $5 super chat. Appreciate it.
• 1:12:49
  And yeah, Chef told me I do have a feeling and it's starting to
• 1:12:52
  feel good, even though I'm I've been feeling bad.
• 1:12:55
  That's why I think it's starting to feel good.
• 1:12:58
  And it's really based off of this idea from this tweet here.
• 1:13:02
  And I know you guys were yelling at me yesterday for reading
• 1:13:04
  tweets, but hey, there's a lot of the smarter people than I am
• 1:13:08
  here. You remember, guys, I have a 42
• 1:13:09
  IQI can barely leave my house without hurting myself here.
• 1:13:12
  So I gotta, I gotta lean on other people's shoulders.
• 1:13:15
  I stand on the shoulders of giants and this guy again, guys,
• 1:13:19
  I don't know where he came from, to be honest.
• 1:13:21
  He he really came on my my, my radar a couple of months ago,
• 1:13:26
  but he's been dropping some fire tweets here.
• 1:13:28
  This guy Sightbringer, AKA the under score, the under score
• 1:13:33
  profit under double under score. I really like his insides right
• 1:13:37
  now. And when I read this tweet, it
• 1:13:41
  really made me think like, this is probably what's going on.
• 1:13:44
  And again, some context here is this idea of we've all been kind
• 1:13:49
  of wondering and I, I'm not going to pull up the charts
• 1:13:52
  here, but like my boy Mitchell Hoddle has been saying, ever
• 1:13:54
  since the ETFs were launched, the fundamental structure of the
• 1:13:58
  Bitcoin price has changed. We are in a new era that we are
• 1:14:02
  in a new paradigm. Like again, not this time is
• 1:14:05
  different per SE because we we will always eat those words here
• 1:14:09
  as Bitcoin. But hey, you know, you don't
• 1:14:11
  step into the river twice as the the metaphor or I don't know,
• 1:14:16
  analogy goes, you are never stepping into the same river
• 1:14:19
  twice. I believe that was Sun Zu here.
• 1:14:20
  I am pulling out philosophy on you guys.
• 1:14:22
  But with all that in mind that the ETFs have fundamentally
• 1:14:27
  changed what we are doing here, for better or for worse,
• 1:14:30
  depending on what side you take, things are feeling a little
• 1:14:34
  different. And even though we're having a
• 1:14:36
  extremely bullish news cycle around Bitcoin, it seems like
• 1:14:40
  every single day, something, something that we would hope
• 1:14:43
  would happen years ago are happening and the price isn't
• 1:14:47
  moving much. It really, this tweet really
• 1:14:50
  kind of stuck in my brain for the last couple of days and
• 1:14:56
  well, rather the last couple of hours it's I've been thinking
• 1:14:58
  about this tweet on repeat. I, I've literally been repeating
• 1:15:01
  it to friends, like in six different conversations.
• 1:15:03
  Anyway, sight bringer goes. A lot of people are whining that
• 1:15:06
  Bitcoin hasn't gone anywhere in nine months.
• 1:15:08
  ETFs buying billions, sovereigns accumulating and yet prices
• 1:15:11
  barely move. They see stagnation.
• 1:15:14
  What they're missing is execution price hasn't run
• 1:15:17
  vertical because ETFs, corporates and sovereigns are
• 1:15:20
  absorbing every bid while Wales weaponizing that bid to flush
• 1:15:24
  leverage and reload lower. That's not weakness, that's
• 1:15:27
  control. Retail wants instant plus 50%
• 1:15:30
  candles. That's me.
• 1:15:31
  Smartmoney knows if the bid is infinite, you farm weak hands
• 1:15:34
  first. That $6 billion flush wasn't
• 1:15:37
  random, it was surgical downside to reload.
• 1:15:40
  Nine months of quote flat under Max demand is compression.
• 1:15:44
  Price refusing to breakdown despite constant selling is the
• 1:15:47
  tell. Reflexive coils don't look
• 1:15:49
  bullish until they ignite, then they go exponential.
• 1:15:53
  This isn't stagnation, it's a full transfer of ownership from
• 1:15:56
  speculative holders to ETFs, sovereigns, and corporates.
• 1:16:00
  That process looks flat until the disbelief phase ends.
• 1:16:04
  Disbelief phase ends. Then it's 112K or 110K to 250K
• 1:16:10
  while the whiners get left behind.
• 1:16:13
  Flat price, while the strongest this hands on earth accumulate
• 1:16:16
  is not bearish. It's ignition.
• 1:16:18
  The disbelief you feel right now is the signal.
• 1:16:21
  And that's what really was a tell for me because you guys
• 1:16:24
  have seen me on the show the last couple of weeks as as you
• 1:16:27
  know, I'm super bullish. But in the last week or so, you
• 1:16:32
  know, I can feel the doubt, the disbelief kind of creeping in.
• 1:16:35
  I've been saying, you know, I think this is a bear trap
• 1:16:37
  because I feel it in myself of like, it feels like we're going
• 1:16:40
  to drop. Like it feel like I'm still
• 1:16:43
  waiting for this double top to happen.
• 1:16:44
  And every little, you know, drop on the price chart feels like
• 1:16:48
  the roller coaster where my stomach starts lifting.
• 1:16:50
  And I absolutely hate that feeling.
• 1:16:52
  I don't like that falling feeling in my stomach.
• 1:16:54
  And I'm feeling this psychologically.
• 1:16:56
  So that last point, the disbelief you feel right now is
• 1:16:59
  the signal. And if we're honest with
• 1:17:01
  yourself there, you're honest with yourself because I'm, I've
• 1:17:02
  been very honest with myself. I'm feeling that right now.
• 1:17:06
  The more I think it's going to pump, the more I'm worried that
• 1:17:10
  it's going to dump. And that disbelief is, I think
• 1:17:13
  the big signal here. If you've been in the space for
• 1:17:16
  a long time, you really have. And and not that we're traders
• 1:17:20
  here, but if you've been in Bitcoin and you've done cycles,
• 1:17:23
  you've been inside, you've done cycles pause, you've been in the
• 1:17:26
  Bitcoin cycle for a while, you do kind of have to countertrade
• 1:17:31
  your, your feelings and emotions.
• 1:17:33
  Not that you're trading, but like when it's the scariest to
• 1:17:35
  buy Bitcoin, that's probably when you should be buying.
• 1:17:38
  When you are euphoric buying Bitcoin, that's probably when
• 1:17:42
  you should step off the gas a little bit.
• 1:17:44
  You should probably shouldn't be doing that HELOC and buying
• 1:17:46
  that, you know, supercar, etcetera.
• 1:17:48
  Like your emotions are tells of what's going on in the market.
• 1:17:52
  And right now I am feeling disbelief, like I am feeling
• 1:17:55
  like, man, this could almost drop at any any second here.
• 1:17:59
  But I really, I think this is this is on the point like on the
• 1:18:02
  nose, like I think this is the signal here.
• 1:18:05
  As we've been seeing, there's more and more evidence that
• 1:18:08
  sovereigns are buying, nation states are buying, the
• 1:18:10
  corporations are scooping this up.
• 1:18:11
  ETFs own millions plus Bitcoin. And these people, as Larry Fink
• 1:18:16
  said himself in the clip earlier in the video, they are thinking
• 1:18:20
  in 20 to 30 year timeline. So if you're thinking of buying
• 1:18:23
  Bitcoin for a year or six months or five years, if you're not
• 1:18:27
  thinking in 10 year time frames right now, you're really playing
• 1:18:32
  a losing strategy. Hence why everyone in the chat
• 1:18:34
  is always like, I'm not selling this, I'm holding this for the
• 1:18:37
  long term. And so I, I think there's AI
• 1:18:39
  think there's a lot to this. We are seeing this fundamental
• 1:18:42
  shift right now. And I think the flush we saw
• 1:18:45
  from one, what was it like 116 to 112 is one of these dying
• 1:18:51
  moments here of the old guard trying to kind of manipulate the
• 1:18:55
  market for, you know, last few final times here so that they
• 1:18:59
  can stack up knowing that there is this unlimited sovereign bid
• 1:19:04
  from sovereign wealth funds, nation states, corporations.
• 1:19:07
  They are here and they want your Bitcoin.
• 1:19:10
  And so the game I think is it is shifting as we speak.
• 1:19:15
  Now with that all being said, I, I did tell you I was going to
• 1:19:18
  end this with some opium here. OK, so another great Twitter
• 1:19:23
  account, this guy tech dev, I brought him up on the show for a
• 1:19:25
  minute. Now he's got this chart.
• 1:19:28
  Again, I don't know what this chart is holding because he, he
• 1:19:32
  kind of, you know, has his own metrics here, but he says the
• 1:19:35
  business cycle. So if you're wondering where we
• 1:19:38
  are in the cycle, it seems like this bull run hasn't even
• 1:19:43
  started. He says, all I see is this cycle
• 1:19:45
  is so different. EFT, this cycle or cycle's
• 1:19:48
  almost over. What's actually different that
• 1:19:50
  the green has been longer, this, you know, build up has been
• 1:19:54
  longer and thus the ramp has been longer and that's all red
• 1:19:58
  hasn't even started, AKA up price movement hasn't even
• 1:20:01
  started. Doesn't seem like most will be
• 1:20:04
  here when it does. And here for everyone, you know,
• 1:20:06
  here's a business cycle. As you can see when it is green,
• 1:20:09
  I believe this is green. Is kind of like the bear market,
• 1:20:12
  not necessarily just bear market, but like accumulation,
• 1:20:14
  the build up. And then we're in the red
• 1:20:16
  market, red candles. Here is where it starts getting
• 1:20:19
  frothy and we start going towards the parabolic bull run.
• 1:20:23
  You can see the green market, you know, the build up has was
• 1:20:26
  generally short. These three do look very similar
• 1:20:29
  in length. And then the bull run, which
• 1:20:32
  basically all look pretty similar in length.
• 1:20:34
  And what we're seeing, again, I'm pretty sure the ETFs are
• 1:20:37
  like, what right around here. So like that we are in an
• 1:20:43
  elongated bear market, ish, you know, accumulation market
• 1:20:48
  structure here. And so again, I don't know if
• 1:20:51
  this is necessarily what you should be trading against, but
• 1:20:55
  it does kind of give me the feeling that, yeah, this this
• 1:21:00
  all is kind of working together. All these data points are
• 1:21:03
  showing me, yes, I am feeling disbelief, but I do.
• 1:21:06
  And I know you guys called us chart boys earlier.
• 1:21:09
  I'm not really a chart boy. I do look at charts per SE just
• 1:21:12
  to kind of get my bearings of where we are in the market right
• 1:21:16
  now. You I don't trade against the
• 1:21:18
  charts 'cause I just buy and hold, that's all I do.
• 1:21:20
  But it is good to kind of use these different data points to,
• 1:21:24
  to understand where we are in the cycle.
• 1:21:27
  So you can kind of, you know, temper your expectations here.
• 1:21:32
  And if this is correct, this business cycle, which we've kind
• 1:21:35
  of been talking, there's a lot of new kind of memes here.
• 1:21:37
  It's the M2 money liquidity supply, or rather global
• 1:21:41
  liquidity supply. And then the business cycle and
• 1:21:46
  this business cycle meme here, I'm going to call it a meme.
• 1:21:50
  Let's just hope it plays out is all I'm saying.
• 1:21:52
  I, I would love to see this play out.
• 1:21:54
  OK, We've been in a long accumulations scenario here and
• 1:22:00
  then the bull run is going to go and one last, you know opium
• 1:22:04
  chart here, Bitcoin crab crawl path he goes.
• 1:22:09
  Let's analyze this crab market so far defined by end of 2022 to
• 1:22:12
  now it's the longest one in Bitcoin 16 year history.
• 1:22:15
  Again, different data points kind of showing us the same
• 1:22:19
  thing we have been in the longest bear market or crab
• 1:22:23
  market in history in Bitcoin's history, which does show maybe
• 1:22:27
  things are fundamentally changing.
• 1:22:29
  Again, if we have an elongated bear market accumulation to kind
• 1:22:32
  of get back up, it's probably gonna mean an elongated bull
• 1:22:35
  market, which could be we're going to be pumping into 2026
• 1:22:40
  and it turns out to be an exponential growth curve.
• 1:22:42
  Again, he's using kind of power laws here.
• 1:22:44
  I don't. I don't know if I necessarily
• 1:22:45
  believe the power laws here, but if it continues on its current
• 1:22:48
  path, it should hit 200K per coin.
• 1:22:51
  He goes as late as May 23rd, 2026, but during this crab crawl
• 1:22:55
  it has no problem hitting or hugging the +2 Sigma line.
• 1:22:59
  I don't know what that means per SE.
• 1:23:00
  Which could easily mean 200K as early as November 23rd this
• 1:23:04
  year. What's that two months from now?
• 1:23:07
  200 K two months sounds great to me and he goes.
• 1:23:10
  None of this accounts for a steeper super exponential
• 1:23:13
  euphoric phase leading to the top which would be more typical
• 1:23:17
  of past cycles. In either case we go higher and
• 1:23:19
  200K or more looks very doable this year guys, so take that
• 1:23:24
  with a grain of salt. I like it.
• 1:23:27
  I told you I'd give you some opium here.
• 1:23:29
  I'm like as someone was joking yesterday, we know Opti is
• 1:23:35
  trolling. What am I trolling about?
• 1:23:39
  Simply Bitcoin is your daily dose of copium and hopium
• 1:23:43
  wrapped up in one. So I took that in mind, guys.
• 1:23:46
  I I think that was Toby in the chat yesterday.
• 1:23:48
  So I figured I'd, I'd end today's show with a little bit
• 1:23:51
  of copium and hopium. I'm totally coping here and I'm
• 1:23:54
  totally feeding myself opium here, guys.
• 1:23:56
  OK, all right, so there. Yes, there is only green from
• 1:24:00
  now on. That's the take away.
• 1:24:02
  That is the take away. Let me see, isn't that the same
• 1:24:05
  as vinyl? But yeah, pretty much.
• 1:24:09
  Well, minus the Yeah. Hold for profit.
• 1:24:11
  Yeah, 100% yes. This is the strategy.
• 1:24:15
  Buy Bitcoin, hold Bitcoin, chill, live your life, come
• 1:24:20
  back, question mark. Profit.
• 1:24:23
  Let's go, let's go. All right, guys, this is the end
• 1:24:27
  of the show. And I was reminded that we have
• 1:24:31
  missed the Bitcoin well wishing well.
• 1:24:35
  So get out your lightning wallets right now.
• 1:24:37
  Again, our boys at Bitcoin well going to give out some free sets
• 1:24:42
  and I actually I have AI have AI have a a secondary giveaway for
• 1:24:47
  you guys here. So first of all, let me pull
• 1:24:49
  this up. Of course, every time you sign
• 1:24:52
  up or rather new sign ups to Bitcoin well, you get 3 tosses
• 1:24:56
  into the wishing well and you get a chance to win a million
• 1:24:58
  sets. If you buy Bitcoin, you get more
• 1:25:01
  points to win sets. If you refer your friends, you
• 1:25:03
  get more points to win sets and once you have those points here
• 1:25:07
  you go into your reward and you hit the wishing well.
• 1:25:09
  So first one to scan this gets free sets.
• 1:25:14
  So here we go. Whoever wins this will get 600
• 1:25:20
  sets all right. I will leave this here for a
• 1:25:23
  second guys. I I wouldn't I wouldn't I
• 1:25:27
  wouldn't sign off yet. I wouldn't I wouldn't leave the
• 1:25:28
  show yet 'cause I do have Opti doesn't believe in power laws.
• 1:25:33
  What's next? Is he going to tell us the plan?
• 1:25:36
  Dude, I believe in power laws. I just don't know if I believe
• 1:25:39
  in the Bitcoin power law. OK, jeez, OK, let's see all
• 1:25:48
  right, all right, don't leave yet guys.
• 1:25:50
  I do have a special This is going to be the big kahuna.
• 1:25:54
  So if you're in here in the Bitcoin wishing well and you hit
• 1:25:58
  the unclaimed sets, if you guys haven't been scanning the
• 1:26:02
  Bitcoin wishing well, now is the time to scan the unclaimed sats
• 1:26:07
  and it should go up. It it did it earlier.
• 1:26:09
  It took a moment. There you go first one just to
• 1:26:14
  scan this get to 1188 of unclaimed sats.
• 1:26:17
  You guys aren't claiming these sats guys.
• 1:26:19
  You guys aren't pulling out your Bitcoin.
• 1:26:21
  You guys yell at me for the free sats here and you guys aren't
• 1:26:24
  even scanning them. What is going on?
• 1:26:28
  You guys are crazy. Did this crazy talk, crazy talk
• 1:26:31
  out here. OK, guys, there you go.
• 1:26:35
  Hopefully someone took those sets and they aren't there
• 1:26:38
  tomorrow. All right, guys, I'll be back
• 1:26:40
  tomorrow. And and for everyone yelling, I
• 1:26:42
  mean, guys like the unofficial official start time of the show
• 1:26:48
  is 1230. OK, I know we put the YouTube up
• 1:26:51
  at 12:15. There's a method to the madness.
• 1:26:53
  Come at 12:30. I know today we were a little
• 1:26:55
  late. That the blame Luke.
• 1:26:57
  I'm gonna I'm gonna throw him into the bus.
• 1:26:59
  We were setting up his gear. But the official start time is
• 1:27:03
  going is 1230. OK, So in your mind, I know it
• 1:27:06
  says on YouTube 1215. I know it says 12/20 on Rumble,
• 1:27:11
  so that's so you guys can hang out in the chat and too hard
• 1:27:14
  Hoddle out there. I have some things in the works.
• 1:27:17
  Just you got to be patient with me.
• 1:27:18
  I'm going to make it a little more fun for you guys to hang
• 1:27:21
  out in the the studio or the rather the chat before the show.
• 1:27:25
  But the official start time here, the unofficial official
• 1:27:27
  start time is 1230 guys, we might be able, you know, a
• 1:27:30
  minute or two late today. We were late, I'll give you
• 1:27:32
  that. OK, I was late.
• 1:27:34
  We were late today. Luke had to do some stuff.
• 1:27:36
  I mean, we try to make sure the show's good for you guys.
• 1:27:38
  Anyways, enough apologizing. I'm not apologizing, I'm just
• 1:27:41
  telling you, OK, 1230 is when we start.
• 1:27:45
  We love you guys. We appreciate you guys.
• 1:27:47
  Smash the like button, comment on the show and of course hit
• 1:27:50
  the subscriber button. I will see you tomorrow at 12:30
• 1:27:55
  PM Eastern Time, OK, Monday through Friday.
• 1:27:58
  And of course watch all the other content.
• 1:28:00
  We have the best content dropping.
• 1:28:01
  Usually it's around six ish 7:00 PM Eastern Time tonight where we
• 1:28:05
  drop Rustin, Dante, Sophie, and Oceans.
• 1:28:09
  We love you guys. I'll see you tomorrow on another
• 1:28:11
  episode of Simply Bitcoin Peace. Out today's episode was brought
• 1:28:15
  to you by bitcoinwell.com, a Bitcoin only platform on a
• 1:28:18
  mission to enable financial independence.