Latest / Simply Bitcoin / Jamie Dimon's Bitcoin Pivot CONFIRMS 2025 Will MELT Faces | EP 1280

Transcript

Jamie Dimon's Bitcoin Pivot CONFIRMS 2025 Will MELT Faces | EP 1280 · Simply Bitcoin

• 0:00
  Jamie Dimon's Bitcoin pivot might have just triggered the
• 0:03
  biggest wave of FOMO into Bitcoin we've ever seen.
• 0:07
  This week we've seen banks from every continent make
• 0:10
  announcements from Italy, Belgium, Germany, Spain, Russia,
• 0:14
  and everyone's favorite $1.4 trillion giant standard Charter
• 0:19
  has once again called for 200 K Bitcoin this year.
• 0:23
  But the real question is, this is the defining question.
• 0:27
  Why are they all getting into Bitcoin?
• 0:30
  Is it because of Larry Fink coming out?
• 0:32
  Is it because Jamie Dimon is pivoted?
• 0:34
  Is it because they see the writing on the wall?
• 0:37
  We don't know, but we will speculate on that with a bunch
• 0:40
  of different news. So of course, I'm not alone
• 0:42
  here. I do have my boy Chris filling
• 0:44
  in for Nico. Chris, thank you so much for
• 0:47
  coming on. Let me get to some of these news
• 0:49
  stories because there is some huge stuff.
• 0:51
  As you guys know, I covered it earlier this week.
• 0:53
  We saw Russia is first and second largest bank in the world
• 0:57
  is starting to get some Bitcoin exposure.
• 1:00
  But I do want to start with this news story.
• 1:03
  Of course, we've heard Jamie Dimon a while ago come out and
• 1:07
  say, hey, look, you know, I may not like that you like Bitcoin,
• 1:11
  but I will defend your right to buy Bitcoin.
• 1:13
  And of course, this was in May. JP Morgan CEO Jamie Dimon says
• 1:16
  the bank will let clients buy Bitcoin.
• 1:18
  We've covered this on the show before as well as this news.
• 1:22
  You know, JP Morgan owns 300 million of MSTR, which is very
• 1:27
  interesting considering now we have some of the biggest players
• 1:31
  in Tradfi tacitly giving Bitcoin, you know, some
• 1:35
  approval. They're they're sitting here,
• 1:36
  they're like, you know what, I don't like it, but if you guys
• 1:39
  want it, my clients want it. We will let you guys buy Bitcoin
• 1:43
  of course, through the trusted institutions, but this week this
• 1:47
  is what we really want to talk about.
• 1:49
  We see Kazakhstan, the central Bank of Kazakhstan wants to
• 1:53
  establish a national crypto reserve and, as you can see in
• 1:57
  this headline set to establish a state-run crypto reserve likely
• 2:01
  funded by and this probably the worst part here seize digital
• 2:04
  assets and government link mining.
• 2:06
  The government link mining better than the first part of
• 2:09
  this. Of course, it is an official
• 2:11
  yet, but Kazakhstan has been taking moves to acquire Bitcoin
• 2:15
  their own strategic Bitcoin reserve, which is what we've
• 2:18
  been saying for a long time on the show.
• 2:20
  Whether you love or hate President Trump, ever since he
• 2:24
  came out and said we are going to be the Bitcoin superpower of
• 2:27
  the world, everyone is coming out and saying, OK, we got to
• 2:31
  take this seriously. Though it is interesting, you
• 2:34
  know, a central bank wants Bitcoin exposure.
• 2:37
  The central bank wants Bitcoin, which from a Bitcoin
• 2:41
  perspective, you're kind of like, I thought we were here to
• 2:43
  separate money from state. Well, you know, Bitcoin is for
• 2:46
  anyone. Of course, if anyone really
• 2:48
  needs Bitcoin, it's probably the central banks that have this hot
• 2:52
  fire IOU that is just melting ice cubes as Sailor always says.
• 2:56
  Now, furthermore, we have the Italian bank UniCredit Spa
• 3:01
  announces investment on Blackrock's Bitcoin ETF.
• 3:04
  I bit, so it's not just banks wanting to get Bitcoin as a
• 3:08
  strategic reserve. It's not just Jamie Dimon
• 3:12
  saying, hey, you know, we're going to sell you the Bitcoin,
• 3:14
  we'll buy some MSTR, we'll get some Bitcoin exposure here.
• 3:18
  Now we have one of the Italy's banks come out and say, hey, we
• 3:23
  are going to buy a lot of this BlackRock Bitcoin ETF.
• 3:26
  And you guys saw yesterday, I brought it up during the news
• 3:28
  segment, actually in the beginning of the show,
• 3:31
  Blackrock's ETF is now outperforming the S&P 500.
• 3:37
  They get more money from the Bitcoin ETF than they do the SP,
• 3:41
  the SP500 fund. So this the writing's on the
• 3:44
  wall. Wall Street really wants
• 3:46
  Bitcoin. They want Bitcoin exposure if
• 3:48
  you're selling your Bitcoin right now, you're selling it to
• 3:51
  the very people that I think Bitcoin was meant to let me say
• 3:54
  not so nicely destroy here. So let's let's read this a
• 3:57
  little bit. The bank offers professional
• 3:58
  clients A5 year structured product with protection against
• 4:01
  losses and exposure to Bitcoin ETF performance.
• 4:04
  Obviously it's like, hey man, just buy Bitcoin.
• 4:06
  But these banks, they got some red tape to get through.
• 4:10
  So Italy based UniCredit Spa announced today it will offer to
• 4:13
  its professional clients a structured investment product
• 4:16
  tied to Blackrock's I bit offered bring their clients full
• 4:19
  capital protection against losses quote.
• 4:21
  The bank plans to issue A5 year dollar denominated investment
• 4:24
  certificate linked to the iShares Bitcoin trust ETF, which
• 4:28
  will offer 100% capital protection at maturity and then
• 4:32
  just kind of going in here a little bit looking at the data
• 4:34
  here, the maximum return of the investment is up to 85% of the
• 4:37
  ETS performance with a minimum investment requirement of
• 4:41
  $25,000. The UNI credit certificate will
• 4:44
  only be available to the bank's professional client.
• 4:46
  So again, they may want Bitcoin exposure.
• 4:50
  Of course, they're trying to protect themselves.
• 4:52
  From our perspective, you're like, why don't you just buy
• 4:55
  Bitcoin? I mean, obviously the bank
• 4:58
  probably can't do that yet, but from a personal perspective,
• 5:02
  from an individual perspective out there, I wouldn't be buying
• 5:05
  these products. But it does go to show Bitcoin
• 5:09
  is taking over the world. They they are getting
• 5:11
  everywhere. You probably should get some
• 5:14
  because it is catching on. And then to wrap this part up or
• 5:17
  actually not. Yeah, to wrap up this first
• 5:19
  segment, KBC Bank from Belgium to offer Bitcoin and the mother
• 5:23
  of all shit coin to retail customers.
• 5:26
  Belgium's KBC Bank plans to let retail customers invest in
• 5:29
  Bitcoin and it's mother of all shit coin via it's Bolero
• 5:32
  platform pending regulatory approval later this year.
• 5:35
  So this one isn't official yet, but you can see the trend here.
• 5:38
  We have the banks from every continent now going around and
• 5:42
  of course we've covered in the past.
• 5:44
  We have Spain, we have Brazil, we have banks in the Middle
• 5:47
  East. Everyone is kind of positioning
• 5:49
  themselves in this perspective of, hey, look, we probably need
• 5:55
  some Bitcoin exposure. Whether they like it or not,
• 5:58
  they need to get into Bitcoin. If they don't adopt Bitcoin, if
• 6:02
  they don't allow their clients to get Bitcoin, then they're
• 6:05
  going to get left in the dust. Now, I think this is of, you
• 6:08
  know, a further trend of what we've been talking about here on
• 6:11
  the show for a long time. It's this idea of a, of an idea
• 6:14
  whose time has come here. People want Bitcoin.
• 6:19
  Now, you could argue that maybe this isn't how it was supposed
• 6:22
  to happen. You know, you could say, oh,
• 6:25
  this isn't what Satoshi intended for it to happen.
• 6:28
  But this is where we are in the story right now.
• 6:31
  And yes, there is concerns about centralization.
• 6:34
  Yes, even in the Bitcoin communities, there's concern
• 6:37
  about the decentralization of the network.
• 6:39
  Can Bitcoin withstand decentralization players?
• 6:42
  Can Bitcoin withstand the huge leviathan that is the Fiat
• 6:46
  system Tradfi world? This is going to be, I think,
• 6:49
  the test of our times. But I think the tacit approval
• 6:52
  here rather, you know, the the acceptance, the acknowledgement
• 6:56
  of Bitcoin of something that needs to be held, even if it's
• 6:58
  just, you know, what is it 13510 percent or what we just heard
• 7:02
  recently, 40% of your portfolio, you need to have some Bitcoin.
• 7:07
  And it really kind of lends to this idea that maybe this time
• 7:09
  is different. So Chris, I have one more story
• 7:12
  just to kind of spice things up. But what's your thoughts on all
• 7:15
  the banks coming into Bitcoin? You are a long time Bitcoiner.
• 7:18
  You're you're a purist here. You're a maxi.
• 7:22
  I guess the question is, is this a good thing?
• 7:24
  Do obviously do we need the banks?
• 7:27
  What's your thoughts hearing all this multiple news come out
• 7:29
  about banks starting to pivot into Bitcoin?
• 7:32
  I wouldn't trust them as far as I can throw them.
• 7:34
  So that's kind of how I'm going to start off the RIP here.
• 7:36
  I mean, not even six months ago, I was helping one of our very
• 7:39
  own here at Simply Bitcoin and they were having issues sending
• 7:43
  money into a Bitcoin only exchange to buy Bitcoin.
• 7:46
  And it kept saying that there was an error on the exchanges
• 7:48
  end. And when they reached out to
• 7:50
  their customer support, they got a customer service Rep.
• 7:52
  They're like, hey, it's not an issue on our end.
• 7:54
  The bank and the bank is Chase was literally blocking them from
• 7:57
  sending money to this exchange in order to buy Bitcoin.
• 8:01
  So I think that's very funny that Chase is like, you know,
• 8:03
  Jamie Dimon's been not keen on Bitcoin for all this time.
• 8:07
  You know, I know he was shit talking it.
• 8:08
  Obviously they were buying I bid or they wanted to get into the
• 8:11
  ETF game. You know, they're buying
• 8:13
  MicroStrategy as you show there, like I wouldn't trust them as
• 8:16
  far as I can throw them. So they're talking shit on it
• 8:18
  and then they're pumping their bags.
• 8:19
  And it's the same way when like people are pumping their bags,
• 8:22
  they're saying this is so great while they're selling on the
• 8:24
  back end. I just think that this is like
• 8:25
  Fiat games play Fiat games basically.
• 8:28
  So, you know, when, when someone like if Jim Cramer says he loves
• 8:32
  the stock, he's probably selling it and he says he hates the
• 8:34
  stock, he's probably buying it. So just I, I wouldn't take
• 8:37
  advice from them. I wouldn't use them if you could
• 8:39
  avoid it. Yeah.
• 8:40
  So I, I would like, like I said, I don't trust them as far as I
• 8:43
  can throw them. Also, you know, obviously the
• 8:46
  previous administration at choke point 2.0, they're very hostile
• 8:49
  to Bitcoin and other cryptocurrencies.
• 8:51
  We saw developers being jailed. We saw DOJ pressing cases even
• 8:55
  when Fin Cen was saying, we don't think you have a case
• 8:57
  here. So like a lot of things are just
• 8:58
  up in the air And obviously Bitcoin is, is good for
• 9:01
  everyone. Like even your enemies or people
• 9:03
  you don't like are going to use Bitcoin, they're going to buy
• 9:05
  Bitcoin, they're going to transact in Bitcoin.
• 9:07
  Like this is kind of what Hal Finney prophesized.
• 9:09
  This is kind of what we've all been saying for years now.
• 9:11
  But like with the at the same time, like I, I think it's
• 9:15
  disingenuous or you can get yourself in a lot of trouble
• 9:17
  with going into a lot of the Bitcoin treasury companies or
• 9:19
  going into the ETFs. Like obviously I understand
• 9:22
  there's reasons why people do it.
• 9:24
  You have an ET, you have an IRA or you have a four O 1K or you
• 9:28
  have a money account that you can't buy Bitcoin itself.
• 9:30
  I understand that. Like there's obviously a time
• 9:32
  and a place for that, but I definitely think the highest
• 9:35
  order of what you should strive to do is take, you know, your
• 9:38
  salary or your or money for your business or if you have just
• 9:41
  money set aside in cash. I think that you should really
• 9:44
  try and put that that into Bitcoin and take it in self
• 9:46
  custody yourself. Don't trust banks, don't trust
• 9:49
  third party custodians. Like I think that you're in your
• 9:53
  own best interest for you and your family to self custody
• 9:55
  Bitcoin, buy Bitcoin yourself, take it into self custody.
• 9:57
  I think that's ultimately what you want to get to.
• 10:00
  But like, like I was saying, going back to tying this into
• 10:02
  all the banks and stuff, like obviously they were blocking one
• 10:05
  of our Co workers from buying Bitcoin on exchange not even six
• 10:08
  months ago. I think this was in, yeah, in
• 10:09
  like February, basically January, February and then not
• 10:13
  even a year ago. So there was this new account
• 10:16
  called Minet where it's basically like a minute to
• 10:18
  connect. I know it was something that's
• 10:20
  spun up by Patrick Bette David. And I saw a lot of people on
• 10:23
  there that were like, hey, like you're an expert and like you
• 10:26
  can message me or call me in order to get advice.
• 10:28
  Well, I saw a lot of bad advice on this platform.
• 10:31
  There was people like there was crypto experts and I was like,
• 10:34
  oh, like I was just kind of reading, like there was like a
• 10:36
  message board of reading people giving advice and it was like,
• 10:38
  oh, this is really shitty advice.
• 10:39
  So like, I'm going to try and be a Bitcoin only guy and go on on
• 10:42
  this platform and try and, you know, disparage myths or like
• 10:46
  give people actually sound advice.
• 10:47
  I wasn't even about for the money.
• 10:49
  I set my limits at the lowest limits that you could that and
• 10:52
  all that. Not even 24 hours later, my
• 10:54
  account was banned. So I had a stripe account at
• 10:57
  STRIPE. So Stripe and not even 24 hours
• 11:01
  later, it says my account's being banned.
• 11:03
  The and like, it was very vague in the messaging.
• 11:06
  So I reached out to customer service.
• 11:07
  I'm like, hey, why is this? And they're like, Oh, well, we
• 11:09
  have you're not allowed to interact or talk about or
• 11:13
  transact with Bitcoin and crypto.
• 11:15
  I was like, bro, on your own app that you're a banking partner
• 11:18
  for one of the drop down options are I'm an expert in accounting,
• 11:23
  finance, real estate, crypto, Bitcoin.
• 11:25
  Like it was literally like an option.
• 11:27
  I'm like, it's in the like the app that you are a banking
• 11:30
  partner for. Did you guys like not even look
• 11:32
  at the app? Did you guys just like say we're
• 11:34
  banking being a banking partner with this?
• 11:36
  So it's just very funny that the banks are coming in like, you
• 11:38
  know, rules for thee but not for me.
• 11:40
  So like they're like shit talking Bitcoin and crypto.
• 11:42
  They make it very difficult to use their services at the very
• 11:45
  same time they're loading up their bags.
• 11:48
  You know, they're, they're dealing with like they're
• 11:49
  obviously like Jamie Dimon's not having issues using Chase to buy
• 11:52
  Bitcoin personally if he wants it, or even on their own bank
• 11:55
  balance sheet. But like, if you're an everyday
• 11:56
  real, like retail pleb, like fuck you.
• 12:00
  Like we're going to ban your account, we're going to shut you
• 12:01
  down like you have. No, I had no recourse.
• 12:03
  I was like, hey, can I open up a new account?
• 12:05
  But like, no, if you do that, like there's a 30 day ban on
• 12:08
  your name and your account, your Social Security.
• 12:09
  Like basically it was just all more of a headache than it was
• 12:11
  worth. So I'm like, fuck this.
• 12:12
  Like I'm done with the banks. I'm glad I'm in Bitcoin.
• 12:14
  I'm glad. Like it wasn't, it wasn't like a
• 12:16
  big deal, but I just think, you know, be care, be careful, like
• 12:19
  who you trust. I wouldn't trust them as far as
• 12:21
  I could throw them. So I'll just leave it at that.
• 12:23
  Yeah, that's an interesting story because we are seeing, you
• 12:26
  know, now the regulatory approvals around banks are
• 12:30
  basically saying, hey, you can custody Bitcoin.
• 12:32
  But I think we still see, are seeing this like remnant of them
• 12:36
  fighting Bitcoin. And again, I know a lot of
• 12:38
  Bitcoiners are maybe this is just my echo Chamber of friends,
• 12:41
  a lot of Bitcoiners that that maybe I came up in Bitcoin with.
• 12:45
  They they they have this idea that all these banks don't know
• 12:48
  what's going to hit them. You know, they're going to get
• 12:50
  blindsided. They don't understand Bitcoin
• 12:52
  because they say the buzzwords and I've always like, maybe when
• 12:56
  I first got in Bitcoin, I, I thought very similar being kind
• 12:59
  of naive. But thinking about it now with
• 13:01
  everything we've learned in the last couple of years, it's I
• 13:04
  think it's the opposite. I think they fully understand
• 13:06
  what is at stakes and This is why they actively fight the
• 13:09
  industry so much. If Chuck point 2.0 was any
• 13:11
  example of what's going on here, they know exactly what's at
• 13:15
  stake here. This is why there's the classic,
• 13:18
  you know, quote from Christine Lagarde essentially saying like,
• 13:20
  if there's an exit route, people will use it.
• 13:23
  They don't just come up with these ideas out of nowhere.
• 13:25
  They, they know exactly what the stakes are.
• 13:27
  And so I, I find that really interesting that you got banned
• 13:30
  as just being a pure bitcoiner versus selling all of this hot
• 13:34
  garbage shit coins to people. But it is interesting because I
• 13:38
  do 100% agree with you on the fact is like, hey, I, I wouldn't
• 13:42
  trust these banks, but we, I, you know, we're, we're probably
• 13:47
  really far down the Internet rabbit holes here and the
• 13:50
  majority of people still trust their banks.
• 13:52
  They, you know, for, for whatever reason it is, they
• 13:54
  still trust their banks. So I think the, you know, the
• 13:58
  acknowledgement of Bitcoin from these banks, I think probably
• 14:03
  does carry some weight around to people that they're like, oh,
• 14:06
  hey, you know what, Jamie Dimon will finally sell me Bitcoin.
• 14:08
  This must mean Bitcoin might be a good thing.
• 14:11
  On the on the other side, though, I do remember how
• 14:14
  Finney's one of his earliest quotes, like there will be
• 14:16
  Bitcoin banks in the future. Now, will these Trat 5 banks be
• 14:19
  those Bitcoin banks? I don't think so.
• 14:22
  It's probably going to be sailor as like the new central Bank of
• 14:26
  Bitcoin because he has all of this Bitcoin.
• 14:29
  So you know, a lot of good points.
• 14:31
  Now let's, you know, Yeah, go on, Chris.
• 14:34
  I'll add one more point. So I, I definitely think it's
• 14:36
  like I said, like rules for thee and not for me.
• 14:39
  Like it's very funny that they're making it really
• 14:41
  difficult for many people that I know, but like it's no issue for
• 14:45
  anyone that works there themselves.
• 14:46
  Like, you know, and I definitely think it's going to be like kind
• 14:48
  of the carrot in the stick. So meaning that they're like,
• 14:51
  hey, we'll give you better interest rates if you custody
• 14:53
  your Bitcoin here, but like, yo, you're not allowed to pull it
• 14:56
  out. Like we can do that, but we're
• 14:57
  not going to do that. But like you can do that, but
• 14:59
  like we're not going to allow it.
• 15:00
  So it's like definitely like they're, you know, show me the
• 15:03
  incentives, I'll show you the outcome.
• 15:04
  Like it is in their own best interest at Bitcoin on their
• 15:06
  balance sheet and whether they're holding it or cussing it
• 15:09
  for you and not letting you withdraw it.
• 15:10
  That's definitely, I think in the future in the cards.
• 15:12
  But it like he's like you were saying, it'd be funny if Michael
• 15:15
  Saylor is like, you know, the new Federal Reserve of like
• 15:18
  Bitcoin. It's like Sailor, the economy is
• 15:20
  crashing. Like what do we invest?
• 15:22
  We need to take some of your money to borrow it and get you
• 15:24
  Bitcoin back on it. It would be pretty funny in the
• 15:26
  future instead of Jerome Powell. It really, it really does seem
• 15:30
  like that's where he's positioning himself to be like
• 15:33
  the central bank, for lack of better terms of the new economy
• 15:38
  as the huge and biggest Bitcoin bank out there.
• 15:41
  But who knows what his final plans are.
• 15:43
  Who knows what his actual end game is.
• 15:45
  But I see my boys back in the chat and he's been trolling me
• 15:49
  and I was actually Dming him this morning about that.
• 15:52
  You know, we have a bull flag set up and you know, I'm chart
• 15:55
  bullying him this morning. So you know, we have some of the
• 15:59
  biggest banks now saying what I've been saying and I, you
• 16:02
  know, I love to confirm my bias here.
• 16:04
  We brought this up before on the show.
• 16:07
  They're doubling down South Standard Chartered has doubled
• 16:10
  down on their Bitcoin prediction for end of year.
• 16:14
  They're actually expecting Bitcoin to hit new highs OF135K
• 16:17
  in Q3, which is again dunking on my buddy in the chat here
• 16:22
  because he thinks it's over if we don't break 115K in like 12
• 16:26
  days now or something. But let's look at what their
• 16:29
  reasoning is, and I think this kind of all ties together when
• 16:33
  you hear their reasoning. So the Bitcoin having cycle is
• 16:36
  unlikely to hurt the Bitcoin price in the second-half of 2025
• 16:39
  due to strong ETF and corporate buying, says Standard Charter
• 16:43
  Global bank is still bullish or Standard Chartered is still
• 16:46
  bullish on Bitcoin for the rest of the year, again citing the
• 16:49
  increase in corporate treasury buying, which as Chris and I and
• 16:52
  even Nico and everyone that's in Bitcoin is saying, you know,
• 16:55
  that there should be some caution here and of towards
• 16:57
  strong ETF inflows. They expect Bitcoin to print new
• 17:01
  highs of 135 K by the end of the third quarter, so three months
• 17:06
  and then break 200K by the end of the year.
• 17:08
  The bank's digital asset research head Jeff Kendrick said
• 17:11
  on Wednesday. Quote, thanks to increased
• 17:14
  investor flows, we believe Bitcoin has moved beyond the
• 17:18
  previous dynamic whereby prices fell 18 months after a halving
• 17:22
  cycle. Did he just say super cycle?
• 17:25
  Did he just say super cycle? Chris, I think that's what they
• 17:28
  said here again, doubling down, the halving cycle was dead.
• 17:32
  Now I don't know, I don't know about all of that.
• 17:36
  But quote, we expect prices to resume their uptrend supported
• 17:39
  by continued strong ETF and Bitcoin treasury buying at the
• 17:43
  same time. They don't they, they don't rule
• 17:46
  out that it might be a little choppy towards the end of the
• 17:48
  year. On that note though, I did see
• 17:52
  David Bailey, maybe I can pull it up Chris while we go live.
• 17:56
  He is essentially saying, actually I saw two different
• 18:00
  data points. So David Bailey said on Twitter,
• 18:03
  you don't have to pull up. I'll pull it up and then you can
• 18:05
  go. David Bailey's like I think
• 18:07
  we're going to see two more years of pumping which would
• 18:10
  fundamentally break the halving cycle.
• 18:12
  And then check Matey did a pod on TFTC and looking at on chain
• 18:16
  data, he is saying something similar that we are going to see
• 18:20
  the stair step, which I've kind of been talking about on the
• 18:23
  show to $1,000,000 forever here on out.
• 18:28
  So there's a lot of data. Obviously we have no clue what's
• 18:31
  going to happen here, but we are starting to lean towards this
• 18:36
  idea that we might not be in the halving cycle.
• 18:41
  Yeah, here we go. Thank you, Chris.
• 18:44
  Let me pull that up and then I'll I'll pass it to you and
• 18:46
  we'll speculate a bit a little bit here, but David Bailey says
• 18:50
  Bitcoin treasury companies are Bitcoin beta.
• 18:52
  As long as management executes and the Bitcoin prices rising,
• 18:55
  they're going to perform in a bear market.
• 18:57
  The strategies shift, but in my opinion, we have two years left
• 19:00
  in this bull. So focus on vacuuming up as many
• 19:03
  Bitcoin as possible ASAP. That's I don't know man.
• 19:10
  I don't want to say the having cycles over, you know, super
• 19:14
  cycle 'cause I already get called a bull tarred every
• 19:16
  single day, but it is starting to feel like things have
• 19:21
  fundamentally shifted under our feet here.
• 19:23
  So, Chris, you don't have to go and do the price predictions
• 19:27
  here. 135K in three months sounds cool. 200K by end of
• 19:31
  year. Yeah, I've been saying that for
• 19:32
  a while, but you haven't been on the show for a while.
• 19:36
  Do you think the halving cycle is dead?
• 19:40
  I, I, I'm still believe in the having cycle.
• 19:42
  In my opinion, I think it's like until it's dead.
• 19:45
  Like, I mean, maybe it can be elongated or like the cycle can
• 19:48
  be a little bit longer, but I think there's going to be cycles
• 19:51
  till there's not any cycles. And I don't think it's ending
• 19:53
  anytime soon. I say that because it seems like
• 19:57
  we're getting that point in the cycle.
• 19:58
  And Opti, you've been in a long enough that, you know, like
• 20:01
  people are like, oh, this is a top.
• 20:03
  This is a top. And then we keep going up or,
• 20:05
  you know, people are like, oh, like Bitcoin feels like it's
• 20:07
  underperformed, which is like normally what means right before
• 20:10
  it rips. And, you know, and a lot of
• 20:13
  people are, I feel like distracted, like, oh, you know,
• 20:15
  and this is no shade at anyone in their business, but it's
• 20:18
  like, OK, so we have Nakamoto from David Bailey.
• 20:20
  We have sailors at MSTR and all his different offerings we have.
• 20:24
  Jack Mallers along with Tether, with 21 or XXI, there's a lot of
• 20:30
  different companies that are like doing a Bitcoin treasury
• 20:32
  company. And I think that it's gonna come
• 20:35
  to a point where all these people are trying to do it and
• 20:38
  people are gonna eventually have to sell their Bitcoin.
• 20:40
  And then it's kind of like a cascading cycle that kind of
• 20:43
  shakes out this rotten around. Obviously, I think probably
• 20:46
  MicroStrategy is probably the best position to not sell their
• 20:48
  Bitcoin. I can't say the same for all the
• 20:50
  other companies. And it's like it's easy to say
• 20:52
  you're bullish and things are good in the bear, in the bull
• 20:55
  markets. It's very difficult to say
• 20:57
  things and everything's going to be all right in the bear
• 20:59
  markets. So I don't know.
• 21:00
  I, I still think we're going to have a cycle.
• 21:02
  I think things can maybe be a little delayed because we
• 21:04
  haven't seen the high highs of Bitcoin, but we also haven't
• 21:07
  seen the low lows. We've seen a few drops,
• 21:09
  obviously. But yeah, maybe it's an
• 21:11
  elongated cycle, but I, I still think we're going to have like
• 21:14
  this four to five year cycles there thereabouts basically.
• 21:17
  Yeah. Well, I mean, what actually
• 21:20
  invalidates the HAVING cycle? You know, obviously it's it
• 21:24
  might still be a four year cycle, but could that mean a
• 21:28
  shorter kind of a longer bull run, but a shorter bear market
• 21:33
  could still fit into a four year cycle, right.
• 21:36
  So maybe it is getting elongated, maybe it will pump
• 21:40
  for you know 2 1/2 years drop for 2027 and then kind of
• 21:46
  continue to do that U Cup that we're so familiar with.
• 21:49
  So who really knows. The only thing that really
• 21:51
  matters guys is like yes, we're seeing all this interest come
• 21:56
  in. A lot of people are wondering
• 21:58
  what's going on with the Bitcoin.
• 21:59
  Don't listen to my buddy that's literally telling me to sell my
• 22:02
  Bitcoin because we're double topping bro.
• 22:05
  Trust me bro, it's over. Just keep buying Bitcoin.
• 22:09
  Keep storing the Bitcoin. If anything is evident from all
• 22:13
  the different news stories we are seeing right now is that
• 22:16
  Bitcoin is only from here going to become more entrenched into
• 22:20
  the system. Everyone around in the world
• 22:23
  will eventually come to that conclusion that they need some
• 22:26
  Bitcoin. And actually, Chris sent me a
• 22:28
  clip here and it was from the Pat McAfee show.
• 22:31
  I'm going to play it in the culture because I, I found it
• 22:33
  kind of interesting. We're starting to see Bitcoin or
• 22:36
  even, you know, Bitcoin media, Bitcoin exposure start to
• 22:39
  saturate the culture. And I think soon enough it's
• 22:43
  going to become like ubiquitous with the culture and it's going
• 22:46
  to be a silent kind of underlying thing.
• 22:49
  And and I'll talk about that later in the show.
• 22:51
  But I do have a clip here of pomp.
• 22:54
  He is talking about a Bitcoin treasury.
• 22:56
  But there's an interesting thing that I really want to talk about
• 22:59
  that he says at the end of the clip.
• 23:00
  And then Senator Lummus announced something else this
• 23:03
  morning that we will break down for you guys.
• 23:06
  But of course, before we move on, guys, smash the like button
• 23:09
  comment on the show. Are we double topping?
• 23:13
  Is 150 K the top? I want to know your guys's
• 23:15
  response in the chat and of course, hit the subscribe button
• 23:18
  guys. We drop the best content in
• 23:20
  Bitcoin daily for you guys. On that note, I do want to give
• 23:24
  a huge shout out to the boys over at Bitcoin Well.
• 23:28
  Make sure you Sign up today because you can win three
• 23:31
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• 23:34
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• 23:37
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• 23:40
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• 23:44
  They will never lose a SAT because when you send money,
• 23:47
  they send the Bitcoin directly to your cold storage.
• 23:50
  Self custody is the revolution. Self custody by default is the
• 23:55
  best way to do this. OK, on that note, let's get into
• 23:59
  the numbers. I want to tell you guys about
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• 25:09
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• 25:35
  Yeah, I'm getting trolled in Rumble.
• 25:37
  OK, All right, guys, Rumble. Rumble Savage.
• 25:42
  All right, we're over here on Clark When's Dashboard and the
• 25:44
  current Bitcoin price is 109,340.
• 25:49
  You know, if you're a chart borer out there, it's looking
• 25:51
  kind of bullish. It's looking like we just got
• 25:53
  that breakout. So testing all time high soon
• 25:56
  and we are at a -2.4% decline from all time high.
• 26:00
  And guess what guys, it's over. It's it's we had a good run.
• 26:04
  We're we're never gonna break all time high.
• 26:05
  It's gonna be a two year bear market.
• 26:07
  No, I'm trolling. I'm trolling the block height,
• 26:10
  AKA probably the most important number here, 903,857, the market
• 26:15
  cap in Fiat terms is 2.17 trillion and we are at 9.24% of
• 26:20
  the gold market cap. Still 90% to run guys, we're
• 26:23
  we're taking over. We are taking over the gold
• 26:26
  market cap, which is again, I think like 20 trillion ish.
• 26:29
  Maybe it's 22. So yeah, a cool 10 or 11X from
• 26:32
  here. All right, guys, as I said, as
• 26:35
  Chris was mentioning, Bitcoin treasuries are like all the rage
• 26:38
  right now. That's all the hype.
• 26:39
  It's what's getting getting, you know, clicks on the media and
• 26:44
  pomp did just announce this. We cover this on the show.
• 26:46
  I think it was what a week ago or something like that.
• 26:49
  So I do want to give some context to this.
• 26:51
  At first this in this clip he kind of talks about like his his
• 26:57
  Bitcoin treasury company, but that's not what I want you guys
• 26:59
  to focus on. I think there's a strong message
• 27:02
  at the end of this that Chris and I will chat about that.
• 27:05
  I think this might be a message that either we need to stress
• 27:10
  more and not just us here, but on our personal level.
• 27:13
  And then I think this is the message that is starting to make
• 27:16
  its rounds on Wall Street and all financial institutions.
• 27:19
  So again, listen closely to the second part of this clip.
• 27:23
  I think it's very important. First mover advantage to the
• 27:27
  core. Your pro Cap BTC is pursuing a
• 27:29
  Bitcoin treasury, a strategy that Michael Saylor kind of
• 27:32
  invented over a strategy you plan to accumulate up to $1
• 27:36
  billion of Bitcoin on your balance sheet.
• 27:38
  What kind of timeline are you looking at to achieve that?
• 27:40
  Well, we are starting with the first billion or so.
• 27:43
  We obviously raised $750 million in equity and convert.
• 27:46
  We're merging into a spec that is $250 million.
• 27:48
  So that'd be the billion dollars to buy with Bitcoin.
• 27:51
  We've already purchased over 4900 Bitcoin that we've publicly
• 27:54
  announced and we'd like to buy as much as we possibly can.
• 27:58
  So I think that part of this is really trying to figure out a
• 28:01
  creative ways to raise capital, go put it into Bitcoin.
• 28:04
  But the thought process of Bitcoin in particular is Bitcoin
• 28:07
  is the new hurdle rate for an entire generation, right?
• 28:09
  I think, you know, our grandparents, our parents, they
• 28:11
  grew up with the S&P as the hurdle rate.
• 28:13
  That's not the hurdle rate anymore because I have an asset
• 28:16
  that is again, my benchmark, which is Bitcoin.
• 28:18
  If I can't beat the benchmark, I have to buy it.
• 28:21
  And I think that's really what Bitcoin has become is if Bitcoin
• 28:23
  is that hurdle rate, what a ton of investors are realizing is
• 28:26
  they can't beat it for the last five years or so.
• 28:28
  So the compounding growth rate is 60% destroyed stocks.
• 28:31
  And so now that is I think the big message here, Bitcoin is the
• 28:38
  new hurdle rate. We've been hearing this
• 28:39
  recently, but obviously you don't have to put it in
• 28:42
  financial terms when you're talking to your friends and
• 28:44
  family, but the idea of like, look, if you can't outperform
• 28:49
  Bitcoin, why are you putting your money in it?
• 28:50
  I think that should be kind of like a very, very strong message
• 28:55
  that we should stress to our friends and family.
• 28:56
  It's like, like if you're not beating at minimum 30% returns
• 29:00
  per year, why are you investing at it?
• 29:03
  If you can't beat 60% returns over the, you know, compounding
• 29:07
  annual growth over the last five years, why are you investing in
• 29:10
  it? Everything that everyone thinks
• 29:12
  is a good investment right now is, is freaking doing nothing
• 29:16
  compared to Bitcoin. And like Pomp was saying, you
• 29:18
  know, the S&P 500 was the hurdle rate for our grandparents real
• 29:23
  estate returns, which, you know, they can be outsized.
• 29:26
  Like that's a hurdle rate for a lot of people.
• 29:27
  But literally sitting back and doing nothing, doing your normal
• 29:31
  job, saving in Bitcoin gives you what, 60% returns, 50% returns
• 29:36
  year over year at minimum 30% returns.
• 29:40
  I don't know, it's kind of hard to outperform Bitcoin at this
• 29:43
  point. But I really like that framing.
• 29:46
  Bitcoin is a new hurdle, right? Obviously you can make it like a
• 29:49
  little more layman friendly. Like if you can't outperform
• 29:51
  Bitcoin, why are you investing it?
• 29:53
  And I know there's probably some Keynesians out there.
• 29:56
  They're like, oh, the velocity of money, bro.
• 29:57
  Like if everyone's just saving in Bitcoin, like no one's going
• 30:01
  to be productive and the economy is not going to grow and no
• 30:04
  one's going to buy anything. And it's like, yeah, cool story,
• 30:08
  bro. Like you save your money, your
• 30:11
  purchasing power goes up. You know, you start to feel
• 30:14
  rich. You want to buy things, you want
• 30:15
  to increase your life, like your money's here to essentially live
• 30:20
  and provide a better life. Like there, people will buy
• 30:22
  things forever. But if you're doing an
• 30:24
  investment right now. And I actually had a
• 30:26
  conversation with one of my friends, He was a huge Bitcoin
• 30:28
  skeptic for years. I've been trying to orange peel
• 30:30
  him for like 7 or 8 years. And he finally called me this
• 30:33
  week and he get, he did the like, man, everything's more
• 30:37
  expensive. People are getting laid off, you
• 30:40
  know, like I have some, I have, you know, a couple $1000 in
• 30:44
  stocks at that. Like his brother is managing
• 30:48
  because he works at Morgan Chase.
• 30:50
  And he's like, and the returns aren't good.
• 30:52
  And I'm like, dude, like, come here.
• 30:55
  Like, come on, you're ready. You're almost ready for Bitcoin.
• 30:58
  And he's like, yeah, I might, I might have to actually do it.
• 31:01
  So we're getting to the point where people are starting to
• 31:03
  feel the pain. And I think it's just one last
• 31:06
  push. It's like, hey, if you can't
• 31:07
  beat 60% returns this year, 50 percent, 30% returns this year,
• 31:13
  what are you doing? Just sit back, chill, buy
• 31:15
  Bitcoin, live your life. It's like the easiest, it's
• 31:18
  easiest pitch ever. So Chris, what's your thoughts
• 31:23
  on the idea of Bitcoin as a hurdle rate and why you probably
• 31:27
  shouldn't invest in whatever else you're thinking about
• 31:30
  investing? I mean, if you're comparing it
• 31:33
  to the best performing asset of all time, everything else is
• 31:36
  underperforming. You want to pull up the one
• 31:39
  website I I forget it's priced in bitcoin.com.
• 31:42
  I don't know if it works. Let me let me see.
• 31:44
  Last time I checked it, it's like price in Bitcoin 20.
• 31:47
  The last time I checked it wasn't it, it was down.
• 31:50
  So let me see if I can pull it up.
• 31:52
  But yeah. I remember we pulled it up
• 31:53
  before in the. Past it it like it acts up.
• 31:56
  Sometimes it works, sometimes it doesn't.
• 31:58
  So. Price in Bitcoin 21 Here it is.
• 32:01
  Is is yours working? Mine's not working.
• 32:05
  It's not working. It's not working anyway.
• 32:08
  Trust us, bro. Hold on, hold on.
• 32:10
  Trust us bro. Well, it used to be a great
• 32:14
  website price in Bitcoin basically showing the comparison
• 32:17
  of oil, housing, food, energy, you name it.
• 32:21
  Basically it was price in Bitcoin and it was comparing
• 32:23
  basically using the best performing asset against
• 32:26
  everything else. Obviously in the short term, you
• 32:28
  know, three months, 6 month, year, even three years,
• 32:31
  sometimes Bitcoin can underperform if you're in a bear
• 32:33
  market or a brutal bear market. But overall, like you want to
• 32:36
  perform against the best asset of all time.
• 32:39
  You had a great point. You're saying the kinesins or
• 32:42
  the? Keynesians.
• 32:44
  Keynesians, there we go. The Keynesians were basically
• 32:47
  saying that, you know, oh, like, dude, if I, if I buy something
• 32:51
  and no one's buying anything, like the economy will collapse.
• 32:54
  It's like you're only at a risk of the economy collapsing if
• 32:57
  you're levered to the tits. Like if you have a fucked ton of
• 32:59
  debt that you need to pay off, whether it's, you know, monthly
• 33:02
  or yearly or whatever it may be, the only risk that you have of
• 33:05
  like pricing going down or things getting cheaper or like
• 33:08
  the economy not growing is if you have a ton of debt, If you
• 33:10
  have no debt, you can basically be like, Hey, we're going to
• 33:13
  spend a little bit less money this year versus we need to
• 33:15
  grow. We need more money.
• 33:17
  What needs to be a larger percentage that we had last
• 33:19
  year, because we are, our debt is growing just as fast or
• 33:22
  slower. If you're the US government
• 33:23
  slower than we're bringing in money and, and tax receipts.
• 33:26
  So if you have a hard money like Bitcoin, I find it funny when
• 33:29
  those, the, the Keynesians are always like, well, if people
• 33:32
  stop spending or if they delay buying, that's going to fuck
• 33:35
  over the economy. It's like, dude, I need to buy
• 33:37
  food everyday. I need to pay for my Internet
• 33:39
  every day, I need to pay for a roof over my head.
• 33:41
  I need to pay like all these different things that like even
• 33:44
  if I like want to spend 0 money. There is just costs that are
• 33:47
  built into life that we have right now.
• 33:49
  But if you're, if people are using their things productively,
• 33:53
  like Elon, you know, it's like one of the most underrated
• 33:56
  things of Elon. And you know, not a hater or a
• 33:58
  lover of Elon, but like SpaceX is and basically the, the
• 34:02
  Starlink satellites is probably the most underrated thing that
• 34:04
  Elon does. Obviously, they talk about
• 34:06
  Tesla, they talk about, you know, the sending the Rockets in
• 34:09
  space. But like by far, Starlink might
• 34:11
  be the best thing that he's ever done in terms of getting like
• 34:13
  fast and reliable Internet anywhere in the world via
• 34:16
  satellites in the sky. But like, like I was saying,
• 34:19
  that being said, like we have a lot of things that money's being
• 34:22
  allocated in ways that the economy doesn't want or is not
• 34:26
  necessarily necessary. Like we don't need a billion
• 34:28
  more AI companies. We don't need like a billion
• 34:30
  more fake meat companies. We don't need a billion more
• 34:33
  pharmaceutical companies or a billion more like, you know,
• 34:37
  large agricultural companies. Like there's things that would
• 34:40
  progress and push our society forward.
• 34:42
  And then there's other things that are basically just because
• 34:44
  of cheap, cheap or free money, basically propping up these
• 34:47
  businesses that we didn't even be there in the 1st place.
• 34:49
  And obviously we see the ebbs and flows of the economies.
• 34:51
  I know, Oh my gosh, we're talking about the fourth turning
• 34:57
  and like, you know, the 80 year cycle, the 240 year cycle.
• 35:01
  And obviously we're kind of reaching an inflection point.
• 35:03
  I know Ray Dalio has talked about, you know, the rise and
• 35:06
  fall of empires. Obviously the US they say is
• 35:08
  coming to an end and he believes China's coming to be the new
• 35:11
  frontier. But I think if we relate more to
• 35:15
  the, Oh my God, what is I have the book on my shelf right here.
• 35:19
  What is CK's favorite book? The sovereign individual.
• 35:22
  If we like say more of the sovereign individual, if we say
• 35:24
  the US empire is falling and Ray Dalia says that China is the
• 35:28
  rising empire, I disagree. I think it's like the digital
• 35:30
  nomad or like the self sovereign individual that has Bitcoin.
• 35:34
  Like they are the rising empire. And obviously I think there's
• 35:36
  going to be many of us around the world.
• 35:38
  Obviously there's only 21 million Bitcoin in existence or
• 35:41
  that will ever be in existence. But I definitely think that
• 35:43
  that's like kind of the way that we're going.
• 35:45
  It doesn't have to be on this same cyclical Fiat cycle.
• 35:48
  I think Bitcoin is the one that's breaking that cycle.
• 35:50
  Obviously there are cycles in Bitcoin, partly because of Fiat,
• 35:53
  but I do think that overall the trend is that Bitcoin and the
• 35:57
  rise of the Bitcoin digital nomad is what's going to be the
• 35:59
  rise of the next great empire, Empower.
• 36:02
  Yeah, no, 100%. And I think you're totally
• 36:06
  right. And I think it's the writing's
• 36:07
  on the wall. It's becoming very obvious.
• 36:09
  Obviously, I have a bias. I confirm my bias every single
• 36:12
  day when I come on this show because I'm a Bitcoiner and I
• 36:14
  see the world through a Bitcoin lens.
• 36:16
  But I totally agree with you though, just kind of going back
• 36:20
  to this, what I said earlier, like if you are investing in
• 36:24
  something and it's not beating bitcoins returns per year, like
• 36:29
  why are you investing in it? And it reminded me of something
• 36:32
  I said to a friend the other day on the phone call and it's
• 36:36
  Warren Buffett's average annual compounded return.
• 36:39
  So I'm going to pull that up again.
• 36:41
  I'm using a perplexity here. And the only reason I'm bringing
• 36:44
  up Warren Buffett is because, as you know, if you aren't sleeping
• 36:49
  under a rock, you've probably heard that name.
• 36:52
  He's a legendary investor, kind of called, you know, what's it,
• 36:55
  what's the name? Like the prophet from Omaha or
• 36:57
  whatever. Like he, the Oracle.
• 36:59
  Yeah, the Oracle from Omaha. He's regarded as one of the best
• 37:03
  investors ever, basically, like, you know, one of the best
• 37:07
  investors, extremely wealthy. Now, I really want you to zone
• 37:10
  in on this metric right here. Warren Buffett through Berkshire
• 37:14
  Hathaway has received an average annual compounded return of
• 37:18
  approximately 19.9% since taking control of the company in 1965.
• 37:24
  Why am I bringing this up is because what I just told you.
• 37:27
  You know, if you can't beat bitcoins hurdle rate, why are
• 37:30
  you doing anything other than just buying Bitcoin now?
• 37:32
  Warren Buffett, the Oracle from Omaha, considered one of the
• 37:35
  best investors ever. His average yearly return or
• 37:41
  compounded return, his kegger is roughly 20% and that's
• 37:45
  considered one of the best returns you can possibly get.
• 37:48
  This is how you get to legendary status.
• 37:50
  And let's just look at the Bitcoin ones again just to
• 37:53
  compare it here. You know, here we are.
• 37:55
  Oh, this is this is out of date a little bit Bipo update your
• 37:58
  charts, but you can see here on the bottom bitcoins 10 year
• 38:02
  kegger is 82% sounds like a solid what 4X from what Warren
• 38:09
  Buffett done. And even if you cut that in
• 38:12
  half, the five year annual compounding returns, it's 63.6%.
• 38:17
  I think that's what a 3X for what Warren Buffett's done.
• 38:20
  And even in the last four years, which you could argue hasn't
• 38:24
  been the best in Bitcoin cycle history, it's 32.2%.
• 38:29
  So literally every single one of us is outperforming Warren
• 38:34
  Buffett by literally sitting on her hand buying Bitcoin, taking
• 38:38
  in the cold storage like this is the new hurdle rate.
• 38:40
  This is exactly what Pomp is saying.
• 38:42
  If you can't beat this, what are you doing?
• 38:45
  You're you're literally playing an old game that doesn't work
• 38:47
  anymore. So hey, you want to be a better
• 38:50
  investor than Warren Buffett? All you have to do is literally
• 38:53
  buy Bitcoin and store it for yourself.
• 38:56
  End of story. You don't even have to watch the
• 38:58
  charts. That's all you need to do.
• 39:00
  Yeah, and I've even got crazier news.
• 39:02
  So like went Warren Buffett started investing at like 11
• 39:05
  years old. He bought into like, you know,
• 39:06
  that was his first time buying socks at 11 with like money that
• 39:09
  he made from like running a paper route.
• 39:11
  But even at 26 years old, he started his own, you know,
• 39:15
  Buffett Associates L limited liability company.
• 39:19
  And basically he started with a total of $105,000.
• 39:22
  So he was 26 years old. And imagine starting with
• 39:24
  $105,000. Imagine.
• 39:26
  So bitcoins right now we're about 109 thousand, $110,000.
• 39:30
  I know that's a tall order and that's hard to get.
• 39:32
  Obviously with him, he raised money.
• 39:34
  So he put $100 down and then collected $104,900 from family
• 39:39
  and friends. And basically it was like, you
• 39:40
  know, starting his company with seed money from family and
• 39:42
  friends. But if you have a whole Bitcoin
• 39:45
  and you're 26 years old, you're 30 years old, you're 35 years
• 39:48
  old. The only thing there's two
• 39:49
  things that prevent you from getting as well, like as as
• 39:52
  wealthy. I think in the long run as
• 39:53
  Warren Buffett. There's two things.
• 39:55
  It's one staying alive and two, making sure that your Bitcoin
• 39:58
  does not get stolen, but and you know, or losing it or selling it
• 40:01
  or doing anything stupid like Warren Buffett's what, 9394
• 40:05
  years old. Like if if you have the ability
• 40:07
  to have one whole Bitcoin, the only thing that's stopping you
• 40:10
  is spending the money, losing the money, getting it stolen,
• 40:12
  hacked, whatever. You know, doing something stupid
• 40:14
  and your health. Like that's literally the only
• 40:16
  like CK always talks about my old buddy, you know my old boss
• 40:19
  talks about like. Everyone has a sad amount of
• 40:22
  Bitcoin that they're going to earn over their lifetime, the
• 40:24
  Max that you'll ever earn. And the only issue is getting
• 40:27
  your Bitcoin from point A to point B.
• 40:29
  And that's hopefully from your time being alive till when you
• 40:32
  die, when I hope for everyone is a very long time from now.
• 40:35
  Or if you're very old, you live even longer than that and
• 40:37
  passing it down hopefully to your kids, to your grandkids, to
• 40:40
  your great grandkids, if that is obviously in your future.
• 40:42
  But I really think like having Bitcoin is that level of a cheat
• 40:45
  code. Because think of it, he had
• 40:47
  $105,000 and he earned just shy of 20% a year.
• 40:51
  If you have Bitcoin and you're averaging right now 60% returns
• 40:54
  year over year. Obviously, I know it's not going
• 40:56
  to stay that way for forever. You know, it's going to people
• 40:59
  talk about the compression of returns, but even 60% kagger,
• 41:02
  you know, year over year returns for the foreseeable future,
• 41:05
  you're going to become a very incredibly, incredibly,
• 41:08
  incredibly, incredibly wealthy person.
• 41:10
  You know, there there is a a quote that was attributed to
• 41:14
  it's Einstein and I don't know if it's actually his, but it's
• 41:16
  attributed to him. It's like the eighth wonder of
• 41:18
  the world is compound interest. And those who do not understand
• 41:21
  it will lose money and those that understand it will reap the
• 41:24
  benefits of it. So that I'm just going to leave
• 41:26
  that there. So I don't know.
• 41:28
  Chris, I love that you know he Warren Buffett started with
• 41:31
  literally the price of one Bitcoin today.
• 41:34
  At 26 years old, I mean, if you're 26, yeah, if you're like
• 41:37
  18/20/24, if you're younger than 26 and you have 10,000 dollars,
• 41:42
  50,000 whatever small amount $1000 into Bitcoin.
• 41:45
  Like you can see those level of returns at like extrapolated
• 41:49
  over a lifetime. Obviously.
• 41:50
  You know, The thing is like people don't want to talk about
• 41:53
  like Warren Buffett getting to his status of where he is.
• 41:55
  Like Warren Buffett wasn't like I'm blowing it on super yachts
• 41:58
  and all this. That the other thing I mean, he
• 41:59
  could have, he literally could have at the end of his life when
• 42:01
  when he was 70 plus or whatever, when he became over a billion
• 42:04
  dollars or worth over a billion dollars.
• 42:06
  But he lived in the same, you know, hunt like $50,000 house he
• 42:10
  bought back in like the 40s or whatever it is.
• 42:13
  I understand that inflation has made those things way more
• 42:15
  expensive, but it's one of those things that like you don't need
• 42:18
  to live beyond your means. It's basically do what Warren
• 42:19
  Buffett did, live below your means, Take all of your retained
• 42:22
  earnings or your excess purchase power, lump it into Bitcoin and
• 42:25
  wait. And that that's really, it
• 42:27
  sounds simple. It is incredibly difficult.
• 42:29
  I'm speaking from experience. It is incredibly difficult to
• 42:31
  sit on your hands. That's why even the IRS even has
• 42:34
  stats every year that people that like outperform the best in
• 42:37
  terms of Iras or 4 O1 KS are people that are normally that
• 42:41
  set it and forget it or die. Like those are like the two
• 42:43
  categories of people that like outperform like every.
• 42:47
  I mean, it is, but like they just say, oh, like, wow, what
• 42:49
  what happened with the money in this count?
• 42:50
  It's like, oh, they were, they've been dead for 20 years.
• 42:52
  And that's why the account's grown to this astronomical
• 42:55
  amount of money. So if you can be the person
• 42:57
  that's a don't not die, set it and forget it.
• 42:59
  And then just, you know, 500 bucks, 100 bucks a month, 50
• 43:02
  bucks a month, 10 bucks a month, whatever you can contribute and
• 43:05
  then just set it and forget it. And as you make more money over
• 43:08
  your career, hopefully you contribute a little bit more.
• 43:10
  Or if you do it on percentage basis, if you're only making
• 43:12
  $50,000, but then you get a raise up to $60,000, you
• 43:15
  contribute on a 10% basis or 5% basis, whatever it is, that
• 43:19
  money will grow as your salary goes in the long run.
• 43:21
  But yeah, I don't know. Sorry for my rant, I'm just
• 43:23
  trying to. No, it was great.
• 43:25
  It was honestly great. We're, we're in a, you know,
• 43:27
  symbiotic relationship here. But this is not financial
• 43:31
  advice, but coming straight from Chris's mouth.
• 43:33
  If you want to be, if you want to be Warren Buffett, just set
• 43:37
  it and forget it. Make sure your DCA Bitcoin is
• 43:40
  locked in and go live your life. I've been saying this forever.
• 43:44
  It's the easiest, easiest way to win.
• 43:46
  Anyways, let's, let's, let's transition into the news today
• 43:50
  because Senator Lummus is back issuing something that I think
• 43:54
  it's very interesting. I, I am going to be a little
• 43:57
  critical of it, but I think it's still an interesting
• 44:00
  development. So let's get into it.
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• 46:31
  All right, guys. So I talked about it yesterday.
• 46:36
  You know, the big beautiful bill I passed.
• 46:39
  What was it? The House, I guess it's still a
• 46:42
  deliberation they're voting on. I don't know if it fully got
• 46:45
  voted on this morning, but I know they were still kind of
• 46:48
  voting on it last night. But we had talked about it from
• 46:51
  a Bitcoin perspective. It looked like they were going
• 46:53
  to implement or trying to squeeze in some sort of
• 46:57
  elimination of capital gains tax.
• 47:00
  Well, that got cut and they basically said that that was
• 47:04
  because they ran out of time. But this morning, literally
• 47:08
  about an hour before the show started, Senator Lumm has
• 47:11
  dropped this. And it's kind of doing the same
• 47:16
  thing, though I again, I'm, I'm going to be a little critical of
• 47:18
  it personally, but Senator Lumm has tweeted the tax code
• 47:22
  shouldn't punish Americans for using new technology.
• 47:25
  My bill fixes the broken rules around Bitcoin and digital
• 47:28
  assets. So let's go to the actual press
• 47:33
  release here. So Lummis unveils digital asset
• 47:37
  tax legislation. US Senator Cynthia Lummis from
• 47:40
  Wyoming introduced comprehensive digital asset tax legislation
• 47:44
  that secures key victories for the digital asset industry and
• 47:48
  creates a level playing field for digital asset users across
• 47:52
  the country. Quote, in order to maintain our
• 47:54
  competitive edge, we must change our tax code to embrace our
• 47:58
  digital economy, not burdened digital asset users.
• 48:02
  This ground breaking legislation is fully paid for, cuts through
• 48:05
  the bureaucratic red tape, and establishes common sense rules
• 48:09
  that reflect how digital technologies function in the
• 48:11
  real world. We cannot allow our archaic tax
• 48:14
  policies to stifle American innovation, and my legislation
• 48:17
  ensures Americans can participate in the digital
• 48:20
  economy without inadvertent tax violation.
• 48:23
  So what is this? It looks like a form of
• 48:28
  elimination of capital gains tax for Bitcoin and here is kind of
• 48:32
  the meat and potatoes here. Senator Lummons legislation
• 48:36
  addresses major digital asset taxation issues including small
• 48:39
  transaction practicality, a $300 de minimis rule ending the
• 48:44
  double taxation of digital asset miners and stakers, parody with
• 48:48
  other financial assets, digital asset lending wash sales mark to
• 48:51
  market tax treatment and providing that charitable
• 48:54
  contributions do not require an appraisal.
• 48:56
  So of course the legislation is estimated by the congressional
• 48:59
  joint Committee on taxation to generate approximately $600
• 49:02
  million in net revenue during the 2025 to 2034 budget window.
• 49:07
  So here again kind of breaking some stuff down.
• 49:11
  The de minimis gain from sale or exchange of digital assets
• 49:14
  similar to foreign exchange. It creates a new section 139 J,
• 49:18
  providing a de minimis exclusion for digital asset gains or
• 49:21
  losses unless the sale or exchanges for one cash or cash
• 49:25
  equivalents include payments, stable coins, property used in
• 49:28
  active trader business, or property held for income
• 49:31
  production. Now here's where I'm probably
• 49:34
  going to be the most critical about it.
• 49:36
  The limitations. A $300 trash threshold for both
• 49:39
  transaction value and a total gain of $5000 yearly total cap
• 49:44
  aggregation rule for related transactions and inflation
• 49:48
  adjustment beginning 2026. This provision recognizes the
• 49:52
  impracticality of tracking every small digital asset transaction,
• 49:55
  such as buying coffee see with Bitcoin, which creates enormous
• 49:58
  compliance burdens for ordinary users.
• 50:01
  The $300 threshold strikes a reasonable balance between tax
• 50:04
  compliance and practical usability of digital assets as a
• 50:08
  medium of exchange. Again, you, you know, you guys
• 50:11
  could read the whole thing, but as I said the other day, it
• 50:17
  seems like every time a new proposal for elimination of
• 50:23
  capital gains around Bitcoin transactions are trying to free
• 50:27
  Bitcoin from the regulatory hurdles that it, that it
• 50:30
  currently has. It seems like the limits on
• 50:33
  those transactions and Fiat prices keep going down.
• 50:36
  I think the first one was like 2500 and then 1000 and then 800,
• 50:41
  and the most recent one that was supposed to get into the one big
• 50:44
  beautiful bill was 600. And now Senator Lummis proposes
• 50:48
  this bill and it's 300. And now on the one hand, I'm not
• 50:53
  going to be too critical here cuz I think it, it might be a
• 50:55
  good step in the right direction.
• 50:59
  Like so that you can buy normal stuff, you know, $300 you're
• 51:02
  like whatever you can buy your cold cards or you know, you can
• 51:05
  buy your coffee with it. But I don't think this de
• 51:10
  minimis tax exemption goes far enough.
• 51:13
  I am a staunch just eliminate capital gains on Bitcoin
• 51:16
  completely. You do not pay capital gains if
• 51:18
  you exchange from one currency to a weaker currency.
• 51:21
  And that's exactly what we're doing here.
• 51:24
  As I said the other day, you know, like let's, at least I, I
• 51:28
  think I saw Vijay, he said like, let's do a 10K and then keep
• 51:32
  that inflation adjusted number so that like it just keeps
• 51:34
  getting bigger and bigger. You're muted, you're muted.
• 51:38
  Oh, you're good, You're good. We we get to determine the
• 51:41
  inflation adjusted number. So the shadow stats or the
• 51:44
  Chapwood index instead of CPI? Yeah, exactly.
• 51:47
  So on the one hand, again, I do always applaud the efforts that
• 51:56
  Senator Lummus and other people on, you know, the Hill or that
• 51:59
  are in Washington, the Bitcoiners that are at least
• 52:01
  trying to kind of get some good legislation and regulations
• 52:06
  pushed through Washington, DC like in the benefit for us
• 52:09
  Bitcoiners. But I don't know, I feel like
• 52:12
  this is gonna, not only is it probably not going to pass, but
• 52:16
  it's it's kind of falling short in the actual kind of execution
• 52:21
  of it. Again, it's $300 per transaction
• 52:25
  and then it's $5000 cap for the whole year.
• 52:29
  That's like. That's like.
• 52:31
  Buying toys. Yeah.
• 52:32
  I mean, obviously rent's like more expensive than that or like
• 52:35
  whatever, but like, yeah, you go out for a meal and it's like
• 52:38
  basically you're hitting up against the 300 limit and you do
• 52:40
  that, you know, a few times a year, and you're basically over
• 52:43
  the 5000, Yeah. So as much as I want to applaud
• 52:47
  this, this move here, I, I think it is probably a defining move,
• 52:53
  but I don't know, I just I'm not that happy about it as a
• 52:57
  bitcoiner, like can we get these?
• 53:00
  Can we do like what's the, I forget what the numbers are
• 53:04
  exactly, but when the 10K Fiat limit, like tell me how much
• 53:09
  money you have, you know when you're crossing the border.
• 53:11
  When that was implemented, the $10,000 was I think equal to
• 53:15
  like 100K at the time. Yeah, it was like 75 KA 100.
• 53:18
  K so, you know, let's do that 100K inflation adjusted Bitcoin
• 53:22
  transactions, then people could actually live and survive and,
• 53:27
  you know, buy cars and rent and food and survive throughout the
• 53:30
  year. Like that's what I want to see.
• 53:32
  But again, I guess maybe it's a good baby step.
• 53:34
  Maybe I'm being too critical here.
• 53:36
  Maybe. Yeah, maybe I'm triggered.
• 53:38
  I know when Lummus and Gillibrand were doing the bill
• 53:40
  back in 22 or 23, when they were doing the joint bill, obviously
• 53:44
  a Democrat and Republican, when they were trying to pass the
• 53:46
  bill for Bitcoin. Obviously in digital assets
• 53:50
  there was the threshold I think similar to what you're saying
• 53:54
  was like either $10,000 and $600.00 limit.
• 53:57
  But when I she basically put it up on GitHub and said like it's
• 54:00
  open to public for comments and all that.
• 54:02
  And I said, why are we dealing with Fiat here?
• 54:04
  Like let's deal, like let's cut to the chase, 1,000,000 SAT's or
• 54:08
  below and your, your, your tax exempt anything.
• 54:11
  Like 100 million SAT's or below and your tax exempt whole coin
• 54:18
  tax exempt under for everyone to use Bitcoin.
• 54:21
  That would be dope. That would be tight.
• 54:23
  No, I was trying to keep it in the currency that you're talking
• 54:25
  about, because when you're adjusting inflation for a
• 54:28
  currency that's hyperinflating, like you can really get fucked
• 54:31
  with that, Yeah. Totally.
• 54:32
  So, I mean, it's kind of like a moment like it is, it is kind of
• 54:39
  news, but it's also kind of like a yeah, well, we could do
• 54:45
  better. We could do better, guys, can we
• 54:47
  do better? Can we just eliminate it
• 54:49
  completely? You know, with Adam back here,
• 54:51
  let's just get rid of it completely.
• 54:53
  You know, just let Bitcoin flow freely.
• 54:55
  This is how we win. But obviously, I guess we can't
• 54:59
  expect that much. All right, here we go.
• 55:01
  Yeah. Thank you, Skip.
• 55:02
  On down the road he goes. The SAR, SAR report by your bank
• 55:05
  for 10K transactions. Years ago, that was big money.
• 55:09
  Not today. Exactly the point here.
• 55:14
  I think that was implemented in 75 or 71.
• 55:16
  I forgot what it was. Yeah, something of that sort.
• 55:20
  The point remains the same. We like you, like you said,
• 55:23
  Chris, you know, we're going to get to a point, especially since
• 55:26
  not saying Fiat currency is hyperinflating now, but it will
• 55:29
  get to a point where, you know, we, we probably will see some
• 55:32
  kind of Weimar inflation, hyperinflation here.
• 55:35
  And it's just going to be a ridiculous number here.
• 55:37
  So it is what it is. But I don't know, Chris, you
• 55:40
  want to pull that number up? And then this, this last clip is
• 55:44
  going to be kind of fun. Oh, actually, yeah.
• 55:46
  Keep going. Because I I I didn't even
• 55:48
  actually pull it up as a clip. Actually, yeah.
• 55:50
  We'll just do it OG, and we'll respond to it live.
• 55:55
  It was in October of 1970, the Bank Secrecy Act.
• 55:58
  Interesting. I wonder what happened in 1971.
• 56:03
  Wow, it all points back to some similar dates here, right?
• 56:08
  Well, that's a funny, interesting step.
• 56:10
  All right, let's get into the culture.
• 56:11
  This is literally where we're going to be talking about the
• 56:13
  culture right now and Bitcoins involvement in it.
• 56:15
  Let's check it out. I want to give a shout out to
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• 57:54
  Head over to Casa dot IO. All right, guys.
• 58:01
  Well, this is called the culture.
• 58:03
  Usually it's about Bitcoin culture or what's going on in
• 58:06
  the Fiat culture. But now these two things are
• 58:09
  colliding in real time. And we got this clip here of Pat
• 58:15
  McAfee show. He's one of the biggest.
• 58:19
  He was independent. Now I think he's he's backed by
• 58:22
  someone, but. He he was independent, then he
• 58:25
  was with Barstool and now, now he's with ESPN.
• 58:28
  Yeah, so he's basically like the cooler version of what ESPN was,
• 58:32
  and now he's back to ESPN. He's huge guys.
• 58:36
  He's one of the most influential sports talk guys right now on
• 58:39
  the Internet. He kind of created his own lane.
• 58:42
  And as you can see, we have Sauce Garner here.
• 58:45
  Is he still at The Jets? Right.
• 58:46
  He's a yeah. I'm a die hard Jets fan for
• 58:48
  those who don't know. So he's a cornerback for The
• 58:50
  Jets? Very exactly.
• 58:51
  He got a great last year but very great player.
• 58:53
  Yeah, he's a great dude. And as you guys can see, well,
• 58:57
  rather, if you're listening, he's wearing this Satoshi
• 58:59
  Nakamoto shirt. And I just want to play the clip
• 59:02
  because I find this very interesting here.
• 59:06
  And then let's just play the clip because it there there.
• 59:08
  It's kind of funny, but also it kind of triggered a lot of
• 59:11
  Bitcoiners on Twitter. So let's just watch this shout
• 59:14
  out to Satoshi Nakamoto. Is that that's Bitcoin.
• 59:16
  That's Bitcoin on your your chest, your shirt.
• 59:21
  Oh, I don't know what this is. You know what this is my my
• 59:30
  stylist had got it for me and he said like this.
• 59:32
  This is I think it's. Satoshi so it's like a popular
• 59:37
  it's a popular brand. You know everybody really
• 59:39
  wearing it, especially in like in like the fashion.
• 59:43
  It's that dips new, it's that dips and it's really going up,
• 59:46
  going to the moon. That's awesome.
• 59:48
  I thought you see the shirt. That shirt is so sweet.
• 59:51
  Let me go ahead and put that thing on.
• 59:53
  You look awesome. It sounds like Pat McAfee is a
• 59:56
  bitcoiner here, but. It does.
• 59:58
  I mean, it sounds like we're transcending culture.
• 1:00:00
  So obviously everyone sees Jack Dorsey out with his :), like,
• 1:00:04
  looks like Nirvana, you know, shirt on there with, you know,
• 1:00:08
  Satoshi. But yeah, obviously everyone
• 1:00:11
  thinks it's kind of a brand, which I guess that kind of means
• 1:00:14
  you're transcending. It is a brand, it is a brand.
• 1:00:16
  It's the. Best brand?
• 1:00:17
  It's the best brand. Yeah, like, I can't tell you,
• 1:00:20
  Opti. Like, my phone was blowing up
• 1:00:22
  from all my friends back home. Obviously, I I, you know, your
• 1:00:25
  boy Orange peeled all of them. They're like, yo, dude, Sauce is
• 1:00:28
  one of us. I'm like, let's go.
• 1:00:30
  And I was busy yesterday. I finally watched the clip.
• 1:00:32
  I was like, oh, damn. Sauce has.
• 1:00:35
  Sauce has no idea. So.
• 1:00:37
  But yeah, it sounds like Pat knows what's up.
• 1:00:39
  He knows. Pat McAfee is a Bitcoin.
• 1:00:42
  That's the biggest take away here.
• 1:00:44
  I think Pat McAfee is a Bitcoiner, though.
• 1:00:46
  Two things, as you said, and kind of what Sauce Corners is
• 1:00:52
  like, I don't know, It's a brand.
• 1:00:53
  Everyone's wearing it. Like we said, you know, Bitcoin
• 1:00:57
  is technically a brand. You know, this is the biggest
• 1:01:00
  brand if you want to consider the whole like crypto ecosystem,
• 1:01:03
  the best, the most trusted, you know, the most secure brand in
• 1:01:07
  the space is of course Bitcoin and every one of us is the
• 1:01:10
  marketing team out here. So you know, on that front,
• 1:01:12
  that's cool. The the kind of more Bitcoin or
• 1:01:15
  take that I saw that was kind of trolley was like, dude, that was
• 1:01:18
  such good opsec. He's like, I don't even I don't
• 1:01:20
  even know what it is. I just you know, I'm just
• 1:01:22
  wearing it. You know, it's like, oh, I don't
• 1:01:25
  know what this, you know, I I just thought it was a cool brand
• 1:01:28
  because I have seen this shirt around and I have been wondering
• 1:01:31
  it's like, do they even know what it is?
• 1:01:33
  It seems like it's just a trendy thing right now.
• 1:01:35
  And I put it on Twitter that like, I absolutely love this.
• 1:01:39
  Like you may not like this, but this is how the culture war is
• 1:01:42
  won. People just thinking it's cool.
• 1:01:45
  People just wearing this name without even knowing.
• 1:01:47
  People get their touch points. If you know you know type
• 1:01:50
  scenario and he's just wearing it because he just thinks it's
• 1:01:54
  cool basically. Or rather shout out to the
• 1:01:56
  legendary stylist out there. I wonder if they're actually
• 1:01:58
  bitcoiners. It kind of reminds me of the
• 1:02:01
  Fight Club, like we are everywhere.
• 1:02:03
  Though it could just be like. This is Jack Dorsey, you know.
• 1:02:05
  Yeah, exactly. Like it.
• 1:02:07
  It could just be like what he said.
• 1:02:09
  You know, it's just, it is kind of the the trendy thing right
• 1:02:12
  now. I've seen a lot of celebrities
• 1:02:15
  wearing that shirt, like, and I even looked it up.
• 1:02:18
  I don't know if I found the right one, but I saw a similar
• 1:02:21
  shirt and it was like $400.00 for like this tacky.
• 1:02:24
  Like what? What's that studded Satoshi
• 1:02:28
  Nakamoto shirt? And I was like, bro, who's
• 1:02:31
  wearing that shirt? And then I went over to the
• 1:02:33
  Bitcoin magazine to see if they still had it.
• 1:02:35
  They did. But, you know, I don't want to
• 1:02:37
  wear the Bitcoin mag part on the back of my, my, my back there.
• 1:02:41
  So I was like, oh, I can't really buy it.
• 1:02:43
  But as you can see, like Bitcoin is infiltrating the culture,
• 1:02:46
  whether they know it or not, Satoshi Nakamoto is, is a name
• 1:02:50
  now. It is signaling here that, hey,
• 1:02:53
  we are saturating the culture here.
• 1:02:56
  And soon enough to really kind of segue this into how I think
• 1:03:00
  Bitcoin will be used in the future, I think it's going to be
• 1:03:03
  something very similar. Like people aren't even going to
• 1:03:05
  know they're using Bitcoin. They're they're not going to be
• 1:03:08
  like us sitting here in 5-10 years and well, probably more
• 1:03:11
  like 1020 years and be fully endorsed in Bitcoin content.
• 1:03:16
  They're just going to be like, yeah, it's my money.
• 1:03:17
  I saving it like, So what, dude? It's, it's like, it's good
• 1:03:20
  saving. You know, it's giving me 60%
• 1:03:22
  kegger every year, bro. It's like, no, they're just
• 1:03:24
  going to be like, hey, I'm no longer broke.
• 1:03:26
  I use Bitcoin. It's easier, It's got less
• 1:03:28
  friction. You know, there's, there's,
• 1:03:30
  there's literally no one that can take it from me.
• 1:03:32
  And they might not even be using it.
• 1:03:33
  It might just be, you know, like wallet of Satoshi or something
• 1:03:36
  where they just send money to each other.
• 1:03:38
  And that's how we take over the Opti wearing a rug.
• 1:03:42
  No dude, this this is a comfy shirt.
• 1:03:44
  It's like weaved. I found the website.
• 1:03:46
  Yeah, these shirts are selling for 300 and 28150.
• 1:03:49
  Yeah. It's crazy.
• 1:03:52
  This this person's definitely they are definitely a Bitcoiner
• 1:03:55
  though with selling all this cool Satoshi stuff.
• 1:03:58
  What's the actually, you'll send me the website later, send me
• 1:04:00
  the website off the show. But yeah, I I thought this was
• 1:04:03
  kind of interesting, but actually I'm going to just look
• 1:04:07
  at it live. Why not?
• 1:04:08
  Yeah, and I'm getting trolled in the chat for being a Jets fan.
• 1:04:10
  Yeah, guys, you know, I, I have one team.
• 1:04:14
  I have one team that I always won with, and that's Bitcoin.
• 1:04:16
  So, you know, that's good enough for me.
• 1:04:18
  Ours. Ours.
• 1:04:21
  Yeah. Yeah, actually, I remember this
• 1:04:23
  one. Guns and Roses was wearing this.
• 1:04:26
  Yeah, these prices are crazy bro.
• 1:04:29
  Yeah, and like, even the T-shirts is 100% cotton.
• 1:04:31
  Like, guys, trust me, if you want to get 100% cotton shirt,
• 1:04:34
  that's a Satoshi Nakamoto. Hit your boy up.
• 1:04:36
  I'll get you a 10. Yeah, I'll get you for, you
• 1:04:38
  know, 90% cost reduction on these bad boys.
• 1:04:41
  I don't know. I kind of like.
• 1:04:42
  I'm not gonna lie. I kind of like this.
• 1:04:44
  This top one, this logo one's kind of lit.
• 1:04:47
  OK, but I'm not buying a $420.00 T-shirt.
• 1:04:50
  That's crazy talk. What?
• 1:04:53
  It's kind of tight. I'm not gonna lie.
• 1:04:55
  That's just. Hey, guys, do you want to give
• 1:04:56
  me a gift? Buy me one of these T-shirts.
• 1:04:58
  I'll rock that bro. This guy's for sure.
• 1:05:03
  I'm gonna, I'm gonna sit here and and research this.
• 1:05:06
  I wonder who this guy is? Let's see.
• 1:05:08
  Actually, let's read this. I'm gonna read this and then
• 1:05:10
  we'll, we'll, we'll wrap it up. But here is the the blurb.
• 1:05:16
  Satoshi Nakamoto. At its core, Satoshi Nakamoto is
• 1:05:19
  more than just a fashion brand. It's a bold statement on the
• 1:05:22
  involving landscape of the digital era.
• 1:05:25
  Named after the enigmatic creator of Bitcoin, the brand is
• 1:05:28
  a tribute to the profound impact of digital technology in our
• 1:05:31
  society. Thorough or through its
• 1:05:34
  innovative design, Satoshi Nakamoto invites us to reflect
• 1:05:37
  on the digital world's influence on our perceptions of value,
• 1:05:40
  identity, and community. This philosophy is woven into
• 1:05:43
  every garment, blah blah blah, challenging the conventional
• 1:05:46
  boundaries between the digital and the physical.
• 1:05:49
  By adopting this namesake, Satoshi Nakamoto positions
• 1:05:52
  himself as the vanguard of social commentary, all while
• 1:05:56
  offering a fresh perspective on contemporary appeal.
• 1:05:58
  Honestly, this guy's for sure a bitcoiner and he has tapped into
• 1:06:02
  the culture here. So I don't know who this
• 1:06:04
  designer is, but hey, more power to you.
• 1:06:07
  Keep selling these T-shirts for $420.00.
• 1:06:10
  Keep getting the celebrities to wear them.
• 1:06:13
  This guy is we we got to get him on the show.
• 1:06:16
  He's a legend. He's got it in the biggest
• 1:06:18
  circles here. Now the name is going
• 1:06:20
  mainstream. I I absolutely someone said talk
• 1:06:24
  about the grifter in chief dude. I think I think this is a a
• 1:06:29
  freaking 5D chess move here. But what do I know you know
• 1:06:32
  fashion in itself is kind of a scam, but you know what I mean
• 1:06:36
  anyways, let's wrap up the show. We could probably ramble on this
• 1:06:39
  for a while, but Chris, thank you so much for filling and I
• 1:06:42
  think you're coming tomorrow. Maybe we got a little, maybe
• 1:06:46
  we'll have a curveball. But thanks for coming on, bro.
• 1:06:48
  It's been a while. We had fun.
• 1:06:50
  I had fun. Talk to you later guys.
• 1:06:52
  Peace. All right guys, on that note,
• 1:06:54
  you already know the drill. Smash the like button comment,
• 1:06:58
  tell me if you'd buy a $420.00 satoshi shirt, and of course,
• 1:07:01
  hit the subscribe button. We will be back tomorrow, but of
• 1:07:04
  course, check out the other content on our channel.
• 1:07:07
  We have the best and the most content of anyone on YouTube.
• 1:07:11
  Good boy Opti, I'll see you tomorrow.
• 1:07:13
  Today's episode was brought to you by bitcoinwell.com, a
• 1:07:16
  Bitcoin only platform on a mission to enable financial
• 1:07:19
  independence.