Latest / Simply Bitcoin / 2nd LARGEST Bank Quietly Becomes BIGGEST BlackRock ETF Holder | EP 1242

Transcript

2nd LARGEST Bank Quietly Becomes BIGGEST BlackRock ETF Holder | EP 1242 · Simply Bitcoin

• 0:00
  Yo, the second largest bank in the world has been exposed for
• 0:04
  quietly buying more Bitcoin. The $3.14 trillion giant Goldman
• 0:10
  Sachs is now the second biggest holder of blackrock's Bitcoin
• 0:15
  ETF after their most recent SEC filing.
• 0:19
  In my 9 years in Bitcoin, I've never seen such a perfect storm
• 0:23
  for a Bitcoin bull run setup because at the same time we have
• 0:27
  the biggest bank in the world. They're.
• 0:29
  All. Quietly positioning themselves
• 0:31
  for Bitcoin. Also, the new MicroStrategy
• 0:34
  copycats going public and of course US publicly traded
• 0:39
  Bitcoin mining companies mining all the Bitcoin.
• 0:42
  All of this is happening at the same time and I think the price
• 0:46
  is starting to reflect that just a little bit.
• 0:49
  Before we get to exploring the geopolitical Bitcoin race and
• 0:53
  how the most recent trade deals play into it, let's break down
• 0:57
  the most recent news. And of course, we have an
• 1:00
  incredibly special guest joining us today.
• 1:03
  We have the Executive Chairman of Hive Digital Technologies,
• 1:08
  Mr. Frank Holmes, in the House joining us on Simply Bitcoin
• 1:12
  today. Frank, thank you so much for
• 1:14
  joining us. And of course, we're all repping
• 1:16
  our Hive gear. Got the Hive Hive Vest opt.
• 1:20
  He's got the Hive hat. Anyways, no more, no more delay.
• 1:24
  Let's jump straight into today's article.
• 1:27
  And I have my buddy. So when the bear market was
• 1:29
  happening in the correction, that's what I held on to stay
• 1:32
  long. Always stay along in Bitcoin.
• 1:35
  This this is wisdom. Anyways, here is the article.
• 1:38
  Goldman Sachs Raises BlackRock Bitcoin Trust Stake to 1.4
• 1:43
  Billion Amid JP Morgan MicroStrategy And it goes on to
• 1:47
  say Goldman Sachs has increased its stake in Blackrock's Bitcoin
• 1:51
  ETF by 28%, now holding 30.8 million shares valued at
• 1:57
  approximately $1.4 billion, alongside an additional 250
• 2:03
  million and FBTCFBTC shares. According to SEC filings,
• 2:09
  BlackRock currently holds $67 billion worth of crypto assets
• 2:14
  and its portfolio and has stated that Bitcoin will soon be too
• 2:18
  risky not to own. And that's the first question to
• 2:21
  you, Frank. Is Bitcoin too risky not to own
• 2:26
  at this part at this point in the movie, specifically now that
• 2:30
  the regulatory environment has cleared up?
• 2:33
  No, I, I think it's trades much higher for a host of reasons,
• 2:38
  monetary, global monetary policies and global fiscal
• 2:42
  policies, because I believe that as a money manager, the
• 2:45
  government policies are precursor to change.
• 2:48
  And we're witnessing tectonic plate shifts happening in fiscal
• 2:52
  policies and a ramp up in M2. When we look at Chindia,
• 2:57
  effectively known as China and India, which is 40% of the
• 3:00
  world's population, has their M2 growing at close to 10%, that's
• 3:05
  very bullish. Absolutely.
• 3:08
  And then Frank, what's your take on the, the whole trading the
• 3:13
  the trade deals that are happening worldwide?
• 3:16
  It seems like that had a huge effect on markets.
• 3:19
  A lot of it caused a lot of uncertainty.
• 3:21
  I mean, you can make the case that we just we just went
• 3:24
  through a three to four month kind of weird bear market
• 3:29
  sideways action. You know, how did HIVE plan to
• 3:33
  capitalize on that moment? Just stay focused, that's all.
• 3:37
  Stay focused on building out and scaling our operations in
• 3:41
  Paraguay. And then the windfall
• 3:44
  opportunity happened when bit farms wanted to lower the risk
• 3:48
  there with buying an asset in the US That became a game
• 3:52
  changer for us to really truly accelerate a 4X in our growth in
• 3:56
  in Exahash. So one of the things that I
• 3:59
  love, Frank, that when we when we talked that mining disrupt is
• 4:03
  the way that you guys describe yourselves.
• 4:05
  You guys described yourselves as lean and mean, the Navy Seals of
• 4:09
  Bitcoin mining, you never sleep on performance.
• 4:15
  That is a big claim. What do you mean by that?
• 4:19
  Well, it means that our model is very much like what they call a
• 4:22
  gold royalty business or in technology a SAS model.
• 4:27
  And and so you need to have a small elite group of people that
• 4:31
  can multitask in their duties and responsibilities and that's
• 4:35
  what Hive had. So Hive is doing more than 6
• 4:38
  million in revenue per employee and will quickly climb here to
• 4:41
  over 10 million in revenue per employee.
• 4:43
  And you compare that to companies like NVIDIA, which is
• 4:46
  3 and a half million or Apple, which is 2 and a half million
• 4:49
  and Goldman Sachs is like a million and a half.
• 4:52
  So we are very focused on that revenue per employee and we've
• 4:57
  been able to manage all these downdrafts.
• 5:00
  We've had these incredible vicious bear market cycles.
• 5:04
  We always had operating income because we do not have a huge
• 5:08
  number of direct employees. How did you manage to build such
• 5:12
  a large company with only, I believe it's only 25 employees.
• 5:16
  Is that correct, Frank? That's correct.
• 5:18
  And it's it's about those that are resilient and like Navy
• 5:22
  Seal's training are able to go and do two things.
• 5:26
  One is deal with stakeholders. You have a host of different
• 5:30
  stakeholders and interests. When you go to mining, just
• 5:34
  disrupt. They're a complete different
• 5:36
  audience of where you're buying equipment from to dealing with
• 5:39
  shareholders, institutional versus retail.
• 5:42
  At the same time, your electrical engineer, your
• 5:44
  computer science major, and you have to do the coding for the
• 5:47
  growth. So all the team players have to
• 5:50
  be able to multitask. So states like Arizona and New
• 5:54
  Hampshire, and this was last year, last week actually just
• 5:58
  passed essentially they they announced that they are, they're
• 6:02
  releasing A strategic Bitcoin reserves.
• 6:04
  They're codifying that into law. It was signed by the governor.
• 6:09
  How do you see this trend influencing federal policy and
• 6:12
  how might it impact Hives operations?
• 6:16
  Well, I think that hives operations in the future Will is
• 6:19
  looking for opportunities in America where it's a safe
• 6:22
  jurisdiction. Now they'll be regulatory rules
• 6:25
  coming with it. But we're again, we're here
• 6:28
  looking in America in addition to a building out for, but first
• 6:32
  and foremost is to get to that 25 X hash in Paraguay over the
• 6:37
  next six to seven months because these these trade tariff wars
• 6:41
  and battles, they do disrupt the the supply of equipment and the
• 6:46
  movement of trade and equipment. And so we want to make sure we
• 6:50
  just stay focused on building out delivering for the
• 6:53
  shareholders what we said we would deliver.
• 6:55
  And it's on track. Every two weeks, we'll be
• 6:59
  increasing an extra hash here. So we're very excited about this
• 7:02
  growth, this path, this journey from six XA hash to 25 XA hash.
• 7:08
  We're at 7 1/2 and growing. On the weekend.
• 7:11
  We grew. So you you mentioned that the
• 7:14
  that AUS Bitcoin reserve could trigger global adoption shift.
• 7:19
  What steps should be taken to realize this vision?
• 7:23
  I just think you just you know be long and and by the dips even
• 7:29
  if you have to buy at $1000 is going to give you almost
• 7:34
  1,000,000 Satoshi's at Robin Hood.
• 7:36
  So you go buy and you go buy Hodel Venex ETF and, and I think
• 7:43
  that HODL is one of those products that it doesn't cost
• 7:47
  you much to get a play on owning every if every week you spend
• 7:51
  $1000 or every month you spend $1000, you can accumulate a
• 7:55
  beautiful position that over time and you can't say you can't
• 7:59
  afford a Bitcoin today, but you can start around and start
• 8:02
  buying Satoshi's. Yeah, absolutely.
• 8:05
  One 100%. Opti, do you want to do you have
• 8:07
  any questions for Frank? No, not really.
• 8:11
  I I do kind of want to talk about the Goldman Sachs story.
• 8:15
  So if if you want to ask some more questions then I can chime
• 8:17
  in ask. Todd, make your point about
• 8:20
  Goldman Sachs and then I'll get back to Frank.
• 8:22
  OK, All right, cool. Yeah.
• 8:23
  So I find this Goldman Sachs story super interesting and.
• 8:27
  And someone in the chat said it and I I have been saying
• 8:29
  something somewhere. Let me see if I can find it.
• 8:31
  It's basically like the idea of, you know, the here we go,
• 8:35
  Goldman Sachs, the BTC fudders. It was always true.
• 8:39
  They just wanted cheaper prices. And I think this is a growing
• 8:42
  trend we're seeing right now where I, I was actually thinking
• 8:45
  about this this morning with all this news going on and all of
• 8:49
  these like really big names getting into Bitcoin.
• 8:51
  Obviously I'm not like the biggest cheerleader of a Goldman
• 8:54
  Sachs, but it it's more it's truer and truer than ever that I
• 8:58
  think Bitcoin has definitely gotten that legitimacy here.
• 9:02
  And the fact that they're buying, you know, billions of
• 9:04
  dollars a Bitcoin. Obviously it's in the ETF.
• 9:06
  They just want exposure, but they're doubling down 28%.
• 9:10
  You know, holdings in this. I bet they're the biggest
• 9:12
  Bitcoin ETF holder now. And I know a lot of people are
• 9:15
  like, Oh, I didn't get into Bitcoin to get for the banks to
• 9:18
  buy Bitcoin, but I think this is just further proof that if
• 9:21
  you're watching this show and you're not fully all in Bitcoin,
• 9:24
  then you really don't understand the game being played right now.
• 9:27
  The fact we're seeing Goldman Sachs go this deep and this hard
• 9:31
  into even though it's a BlackRock ETFI think is growing
• 9:35
  trend of what we're seeing right now.
• 9:36
  There has been a lot of talks, especially like Frank was
• 9:39
  explaining it talks about the trade war.
• 9:41
  There seems to be a move away from this like unipolar American
• 9:45
  dominance in the world and it seems to be going towards a
• 9:48
  multipolar direction. And I think BlackRock is leading
• 9:52
  this charge. Whether this is a good thing or
• 9:53
  a bad thing, you know, it's up for debate.
• 9:55
  But we are seeing something play out very interesting where
• 9:58
  BlackRock is the leader. You know, they got their whole
• 10:01
  marketing team out there pushing Bitcoin.
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  We have the biggest bank's biggest institutions in the
• 10:05
  world starting to embrace Bitcoin and it it really just
• 10:09
  begs the question like, what are people looking at if they're not
• 10:12
  seeing this news and being like, oh, I need to study Bitcoin.
• 10:16
  And I guess this might bring a question for Frank here.
• 10:19
  You know, you are more on the public, you know, Bitcoin
• 10:21
  company side than we are. We just cover the news.
• 10:24
  But are you starting to see a growing trend and more of an
• 10:27
  interest from people that probably historically were
• 10:29
  against Bitcoin? Because it seems like a no
• 10:32
  brainer from our perspective, but obviously we're biased here.
• 10:35
  We're like, we're fully Bitcoin. You know, all this good news
• 10:38
  just makes us even more bullish. But I, I, I want to argue, or at
• 10:42
  least it seems that the growing trend around Bitcoin is no
• 10:45
  longer this, you know, risky thing to own.
• 10:48
  It's, it's like Larry Fink said himself, it's, it's risky not to
• 10:51
  own at this point. So are you having new
• 10:53
  conversations? I know you're, you're in more
• 10:55
  like investor circles, people that aren't necessarily just
• 10:58
  Bitcoiners. So is the trend changing around
• 11:01
  Bitcoin from your perspective? Yes, I think there's much more
• 11:04
  curiosity of what's the, what are the drivers behind it.
• 11:09
  And usually I get this pushback on, well, it's gone already.
• 11:13
  I missed it, I missed it. And then try to explain to them,
• 11:15
  no, when bitcoins, 100 million satoshis and when you only spend
• 11:20
  $1000 buying a Bitcoin ETF, you're buying satoshis and
• 11:26
  you're getting a play on something that's going to give
• 11:29
  you this unique protection. And this is the more technical
• 11:33
  person. But when I talk to say the, the
• 11:36
  the wealthier retail person doesn't grasp is still
• 11:39
  skeptical. I tell them it's about liberty.
• 11:42
  It's about private property rights, digital private property
• 11:46
  rights. And when I was speaking last
• 11:48
  week at Weiss's investment group, crypto group in Florida,
• 11:54
  I said to them, you know you if you thought you missed the move,
• 11:56
  then pay attention. This all came from the gamers,
• 12:00
  the gamers and that work, young Nell coders, they were in the
• 12:04
  digital, in the digital realm. That's where you're going to get
• 12:06
  the next big play and and you have to have an open curious
• 12:10
  mind. And that was what resonate the
• 12:13
  most. Then they start asking, well
• 12:14
  then how do you go, where do you go buy?
• 12:16
  What do you buy, etcetera. But that's not my job to tell
• 12:19
  them, you know, go buy this. I just think that when I read
• 12:23
  articles like Hodel, they waived all their fees and they're very
• 12:27
  much into the crypto ecosystem that it makes.
• 12:30
  It's really the tick, the ticker.
• 12:31
  I like hold on for dear life because that's what you've had
• 12:34
  to do by being a bitcoiner. And I try to articulate the
• 12:39
  people understand that when something's new, the volatility,
• 12:43
  the DNA of volatility of a new asset class is always
• 12:47
  substantially greater. And now what's happening with
• 12:52
  covered right programs that they were able to sell calls against
• 12:55
  that Vol. A trader was telling me that the
• 12:58
  new Viagra is is volatility for the capital market calls against
• 13:05
  this. So the Bitcoin ETFBTCI basically
• 13:09
  has a 16% coupon that pays monthly because the volatility
• 13:13
  is good for selling calls against it.
• 13:15
  Like micro strategy has a single purpose ETF that sells calls
• 13:21
  against that to give you a dividend income.
• 13:23
  So it's directional of micro strategy, which is directional
• 13:27
  of Bitcoin up and down. But in that volatility, they
• 13:31
  sell calls against it. So the markets really evolved
• 13:34
  very, very quickly. I It's unprecedented to see what
• 13:38
  took 10 years to get 50 billion into GL has taken 10 months to
• 13:43
  get 50 billion into Bitcoin ETFs, which only have incredible
• 13:48
  growth. I do want to give a shout out to
• 13:50
  the live stream 1600 of you guys watching live between YouTube
• 13:55
  and XI. Do want to give a shout out to
• 13:56
  the Rumble audience. We have been being featured on
• 14:00
  the Rumble front page as of late, so shout out to the Rumble
• 14:03
  platform. We absolutely love it here at
• 14:05
  Simply Bitcoin. Guys, if you guys are enjoying
• 14:08
  the show so far, make sure to smash that like button.
• 14:11
  Help us break 200 likes By the time the show ends, Of course,
• 14:15
  you're listening to Nico and our special guest today, Frank
• 14:18
  Holmes, Executive chairman at Hive Digital Technologies.
• 14:22
  I have a question for you, Frank.
• 14:23
  And I think a lot of people are thinking this, you know, it
• 14:26
  seems like Bitcoin is on the up and up again.
• 14:29
  Once again, you know, we had like a three, four month kind of
• 14:33
  micro bear market. What is your future outlook for
• 14:37
  the the the next the the rest of the year for the next 12 months
• 14:41
  and how is high preparing to navigate it?
• 14:45
  Well, I think that Bitcoin and alternative asset classes will
• 14:50
  capture more and more of importance in everyone's
• 14:53
  diversified portfolio, especially the baby boomers like
• 14:56
  myself. What portion should be in the
• 15:00
  world of gold? It was always, you know, have a
• 15:02
  10% waiting in gold and now it's going to become Bitcoin.
• 15:06
  And what happens if it's two percent, 5% of your overall
• 15:10
  diversified portfolio that you have other investments and out
• 15:14
  of nowhere comes as BTCI and it's giving you income because
• 15:19
  one of the big rules of investing is having many sources
• 15:22
  of income, not relying on one asset class and not looking just
• 15:27
  for dividend paying stocks for for them paying dividends every
• 15:31
  year, increasing them for the past 20 years.
• 15:33
  There's special products for that.
• 15:34
  All of a sudden we have a Bitcoin income.
• 15:37
  ETFI think it's very, very special.
• 15:39
  What's going on now Hive is going to be positioned to expand
• 15:43
  its footprint and then rebuild our hotel position because we've
• 15:47
  had to use some of our Bitcoin to acquire bit farms assets and
• 15:52
  and fast track our huge scaling program.
• 15:56
  But you still Hive I believe still holds over 2000 Bitcoin if
• 16:03
  if my memory serves me correctly.
• 16:05
  Is that is that correct, Frank? We have a strong position in
• 16:08
  Bitcoin and and we have a unique structure of how we acquire bit
• 16:13
  farms operations. So we do have a strong hotel
• 16:16
  position. And so that's where we're we're
• 16:19
  very happy about. We're finishing our year end
• 16:21
  March 31st. So it's sensitive of how I talk
• 16:25
  and give great granularity on numbers because we have to wait
• 16:29
  till they're into the public domain.
• 16:31
  But what's really important is, is this growth profile that
• 16:35
  hive, it was lacked because we couldn't find big sources of
• 16:40
  green energy. But we have it now.
• 16:42
  And now we're fast tracking this explosive growth in Paraguay.
• 16:47
  Now. Coming back, you know, I want to
• 16:49
  answer your question. I think in this cycle under
• 16:51
  President Trump that we will see Bitcoin probably go through a
• 16:56
  quarter $1,000,000 to $1,000,000 and we'll see gold go through
• 17:00
  $6000 as the GG20 countries around the world start their
• 17:06
  money printing again to try to ignite their economies and
• 17:09
  rebalance with all the trade deals are going to be done in
• 17:13
  the next 90 days. So I, I think that that that
• 17:17
  reset button is going to take place.
• 17:19
  And, and when we take a look at the new guard versus the old
• 17:22
  guard, there's going to be a lot of money printing.
• 17:26
  And there's also be a lot of money spent on armaments to
• 17:29
  protect against what China has been doing on, on the 1 road, 1
• 17:33
  belt around the world is really one belt of communism is the
• 17:37
  great concern. Well, that means there's much
• 17:39
  more money being spent on cyber security protection, the use of
• 17:43
  AI. So that means there's money
• 17:45
  printing. Well, that's very, very good for
• 17:48
  for Bitcoin and for people that that are central bankers out of
• 17:52
  my age, they feel more comfortable owning gold.
• 17:56
  So I see both, but I see much more upside in Bitcoin and and I
• 18:01
  see that it's just important. If you don't own some in a
• 18:04
  portfolio, I think that you're at risk.
• 18:06
  You're foolish not to own it and and learn that it's has ADNA and
• 18:10
  volatility buying the down days. I do want to give a shout out
• 18:15
  once again to the live stream on the verge of breaking 2000 live
• 18:18
  viewers, 500 live viewers on YouTube alone.
• 18:22
  Of course Rumble is absolutely popping off.
• 18:24
  If you guys are enjoying the show so far, smash that like
• 18:28
  button again. We're joined with Frank Holmes,
• 18:30
  Executive Chairman of Hive Digital Technologies and so much
• 18:35
  to unpack and what you just said.
• 18:37
  Frank and I, I want to talk about this current
• 18:40
  administration and you're essentially making the case that
• 18:43
  it is extremely only positive for the price of Bitcoin.
• 18:47
  This current administration, it is going to take Bitcoin to new
• 18:50
  heights. You're saying a quarter
• 18:52
  $1,000,000 Bitcoin, potentially half $1,000,000 Bitcoin by the
• 18:56
  time of Trump's end of term. Is that correct?
• 19:00
  Correct. And and it can happen faster if
• 19:04
  other sort of tectonic plate shifts happen where there's an
• 19:06
  imbalance between monetary and fiscal policies of the of the
• 19:10
  G20 countries. So it's really recognized that.
• 19:13
  But here's a great line. Warren Buffett, this is like
• 19:17
  Bitcoin doesn't understand it with all respect, but doesn't
• 19:20
  matter. He's a phenomenal investor.
• 19:22
  He just retired at the age of 94 and how did he build his wealth?
• 19:27
  He said Hodel buy the dip, so he goes into this before this sell
• 19:33
  off in stocks. This year he has $345 billion in
• 19:37
  cash. What's he looking for?
• 19:39
  Buy great America. He's made his wealth by buying
• 19:42
  into the greatest nation in the world.
• 19:44
  Well, the greatest capitalist nation in the world, America, is
• 19:50
  now long. Bitcoin is now supporting
• 19:52
  Bitcoin. So it makes it just even more
• 19:55
  bullish that you buy the dip and you hold on to these
• 19:59
  corrections. Absolutely buy the dip.
• 20:02
  Huddle. Huddle for dear life.
• 20:05
  Opti. Have any thoughts?
• 20:06
  Any questions for Frank? No, I just want to kind of echo
• 20:10
  what Frank was saying, especially considering the, you
• 20:14
  know, potential of this new regulatory environment.
• 20:17
  They seem to be kind of pushing towards this light touch
• 20:20
  approach here. It's hard not to be bullish
• 20:23
  right now. And I know we are kind of
• 20:24
  watching the price right now. We're almost at all time high
• 20:26
  again. You know, we're back above 100K.
• 20:28
  Everyone's wondering what's going on with the price.
• 20:31
  I'm like it's testing the support level.
• 20:32
  This is super healthy, but it's hard not to be really bullish on
• 20:36
  just Bitcoin going crazy right now.
• 20:38
  It really feels like it's about to explode.
• 20:40
  But I think Frank's wisdom there is what we all kind of
• 20:43
  experience. It's like don't really focus on
• 20:45
  the price. Yes, we love to watch the price.
• 20:48
  You know, it makes us feel good. We get the dopamine flowing, but
• 20:51
  you just want to acquire as much Bitcoin as possible as everyone
• 20:55
  in the chat knows. I say, you know, we're playing
• 20:57
  hungry Hippo here. You just want to acquire as much
• 20:59
  as you can, however you can, and in time you will be feeling
• 21:03
  really good about it. It does feel like a lot of the
• 21:07
  conservative price predictions that people were giving this
• 21:09
  year are going to get blown out of the water.
• 21:11
  So I really like Frank's. You know what?
• 21:13
  A quarter million half $1,000,000 Bitcoin predictions
• 21:17
  that sound great to me. Absolutely.
• 21:19
  Before we move on to the numbers segment, one last thing I want
• 21:23
  to bring up other than the Paraguay announcement, which was
• 21:26
  absolutely massive, we're going to be covering during the
• 21:28
  culture segment, another huge thing that Hive did this year is
• 21:32
  that you guys announced that you're moving your headquarters
• 21:36
  to the great state of Texas. Could you talk a little bit
• 21:39
  about that, Frank? Yes, well one of the part is is
• 21:43
  now America's sole pro Bitcoin and is usher in regulations for
• 21:48
  it. It's just a much safer
• 21:50
  jurisdiction. And so we feel very comfortable
• 21:54
  and high functions and has been functioning over nine time zones
• 21:59
  every day, 5 languages. So we we feel now it's so
• 22:04
  important to be in America. So we moved it here.
• 22:07
  But the, the intellectual capital, a lot of us in Canada
• 22:10
  will stay there. But the head office being here
• 22:13
  and looking to expand our operations in America, it's full
• 22:17
  throttle. 100% and and I and I love that some people people are
• 22:22
  commenting in the chat. I have the same hive hat.
• 22:26
  The people love the hive merch, Frank, it's it's going off the
• 22:30
  shelves. People love the hive merch.
• 22:32
  The the black hive hat, the white hive hat.
• 22:35
  I saw my dad wearing it the other day there he he was
• 22:38
  wearing the blue one there comes in all different colors.
• 22:41
  Anyways, guys, it's going to be a jam packed show.
• 22:43
  We have tons to talk about, lots to get to in the culture
• 22:47
  segment. We're going to be talking about
• 22:49
  an interesting, interesting trend.
• 22:52
  It seems like there is a huge drawdown in the kind of the big
• 22:56
  seven tech stocks and it seems like Bitcoin was able to
• 23:01
  shoulder that a little bit better than everything else.
• 23:03
  And also an interesting post by TFTC.
• 23:08
  Only 4% of Americans think Bitcoin is the best long term
• 23:12
  investment. So we still have a long way to
• 23:16
  go. It seems like real estate seems
• 23:18
  like most people still think real estate is is a better idea.
• 23:22
  Gold also people still think it's a better idea.
• 23:25
  So we're going to make a contrary case as to why I think
• 23:28
  Bitcoin is is the best long term investment and then during the
• 23:33
  culture segment, we're going to be talking about all things hive
• 23:37
  new updates coming from Hive digital technology.
• 23:40
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  971 sats per dollar. Under 1000 sats per dollar.
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  It's amazing. Market cap 2.52 point 05
• 27:12
  trillion Bitcoin verse gold market cap almost at 10%,
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  sitting at 9% currently. Percentage issued 94.58% decline
• 27:21
  from all time high -5.7%. If you buy Bitcoin right now,
• 27:25
  you're getting it at a close to a 6% discount and the realized
• 27:30
  monetary inflation .85%. Anyways, the thing that I wanted
• 27:34
  to talk about today, I found an interesting subject and let's
• 27:38
  breakdown the data. Only 4% of Americans think
• 27:42
  Bitcoin is the best long term investment.
• 27:46
  Real estate leads at 37%, followed by gold at 23%
• 27:52
  according to a new Gallup poll. The rest of the country hasn't
• 27:56
  woken up yet. I think that's an opportunity in
• 28:00
  my humble opinion. Frank, what do you think?
• 28:03
  Do you believe that Bitcoin is a better long term investment than
• 28:09
  real estate and gold? And if you do, why?
• 28:14
  Well, as a money manager, I have to talk about about being
• 28:17
  diversified. So I really think that people
• 28:20
  have to include Bitcoin and part of the diversification and if
• 28:24
  they own gold then they should be long Bitcoin.
• 28:27
  That's very simple. But what's interesting to me in
• 28:30
  this data point that's come out is that in fact the GLD is
• 28:34
  greatly underweighted as a percentage of overall ETF
• 28:39
  assets. And so that would be interesting
• 28:43
  when you look at where where that world is going towards coal
• 28:46
  as an asset class in the digital realm, BIM coins, we look at
• 28:53
  anything just in addition to Bitcoin is to think of the web
• 28:57
  three environment. When I was in Paris Blockchain
• 29:00
  Week, there's 9000 people, 9000. You can't get 9000 people for an
• 29:06
  ETF conference that includes institutional to retail
• 29:10
  investors. It's not happening.
• 29:12
  And how big will Vegas be 20,000 And so there's something else
• 29:17
  that's happening. And I think that we hear a fake
• 29:21
  talking from BlackRock keeps talking about tokenizing all the
• 29:24
  real estate, tokenizing all securities, because this market
• 29:29
  of Bitcoin trades 24/7. It happens all around the world
• 29:33
  and but stocks don't. And so if you start to tokenize
• 29:37
  and you've brought regulations to trade 24/7, that would be the
• 29:40
  big game changer of seeing people all of a sudden wake up
• 29:44
  to say Bitcoin is a significant important asset class that I
• 29:48
  have to own. Yeah, absolutely.
• 29:51
  And what do you think? What do you think, Frank?
• 29:54
  We, we heard this, we've heard this from BlackRock.
• 29:58
  It was coming out that BlackRock was essentially making the case
• 30:02
  that the I 'cause you're talking about as an asset manager, you
• 30:07
  know, it's all about diversifying.
• 30:09
  It's all about asset allocation. What do you think about
• 30:12
  Blackrock's recommendation? 2% allocation to Bitcoin?
• 30:17
  Is that too little? Is that too much?
• 30:19
  What's your opinion? I think that's just a perfect
• 30:21
  start for someone that's skeptical about anything new.
• 30:24
  But I think it's it's also wise to be at 5% or 10%.
• 30:30
  It depends on that vision you have.
• 30:32
  But I was doing some research on the weekend and was really
• 30:34
  interesting about cannabis and and the adoption of cannabis
• 30:39
  over alcohol, expensive wines versus buying cannabis and how
• 30:44
  it shifted with generations. So when we look at demographics
• 30:48
  and we look at people under the age of 40, there is a big move
• 30:52
  to not drink at all, to be healthier or if you want to go
• 30:58
  and chill out to go to cannabis. So as we go to people in their
• 31:01
  20s, there is a higher percentage of the adoption of
• 31:05
  cannabis than alcohol. Also the adoption of Web 3 to
• 31:10
  stocks. That, that, so that, so there's
• 31:14
  a shift, there's a generational shift that's happening.
• 31:18
  And you and I, I'm, I'm trying to connect the dots here.
• 31:21
  Do you believe that's gonna apply to essentially how
• 31:24
  different generations see different asset classes?
• 31:28
  Yes, absolutely. We saw this.
• 31:30
  If you look back and dot and connect the dots with mutual
• 31:33
  funds, mutual funds really took off in the 80s because they
• 31:38
  could pay you a money market rate of 20% on your treasury
• 31:42
  bills, whereas the banks weren't able or they weren't.
• 31:45
  And so all billions of dollars are flowing into mutual funds
• 31:48
  and it became mainstay and then along came ETFs which allowed to
• 31:53
  be able to trade around a basket of holdings.
• 31:56
  So you see these things take place and, and, and, and you do
• 31:59
  have age, but the demographic thing is quite significant
• 32:03
  because the transfer of wealth from from baby boomers, my
• 32:08
  vintage over to your vintage is trillions of dollars and your
• 32:14
  age and your savings and your speculation is much more
• 32:18
  accepting of the digital realm than my age.
• 32:22
  And but we're going to be transferring wealth to you.
• 32:25
  So I think it's just a huge, huge super cycle that we have.
• 32:30
  Like they talk about data centers and AI and use of energy
• 32:34
  and AI is a super cycle and technology.
• 32:37
  So is Web 3 all on the backbone and the success of Bitcoin with
• 32:43
  21,000 nodes around the world validating, supporting the
• 32:47
  ecosystem, Bitcoin miners validating, supporting the
• 32:51
  ecosystem all over the world and now America basically saying we
• 32:56
  want to be the leaders from Bitcoin mining, we want to be
• 33:00
  the leaders with the innovation and all the collateral that goes
• 33:03
  along. The success of the Bitcoin
• 33:05
  blockchain ecosystem is extremely bullish.
• 33:09
  So Speaking of leaders in innovation, I know Hive Digital
• 33:13
  Technologies was the first publicly traded Bitcoin miner.
• 33:17
  How did you see that? How did you see the opportunity?
• 33:21
  What year was this, Frank? It was 2017 and and the idea of
• 33:27
  creating a Bitcoin ETF but I realized quickly it wasn't going
• 33:31
  to happen back then. Do the regulatory concerns and
• 33:34
  AKYC and anti money laundering laws.
• 33:37
  So when you're mining guess what you create the virgin coin, you
• 33:42
  do not have this AML or KYC problem and you are creating the
• 33:46
  coins and you start to stack them on your balance sheet.
• 33:49
  So I said OK well let's launch Hive and we put up the 1st
• 33:53
  $5,000,000 institutionally. I said I would go on the board
• 33:56
  as the chairman and away we were.
• 33:59
  And we had the great support of Fidelity who were very early in
• 34:04
  that whole process and they've invested in our and when we went
• 34:07
  to public in September of 2017, it's only a year ago that the
• 34:12
  Bitcoin ETF came out. So I'm thank God I wasn't
• 34:15
  holding my breath in the launching of it.
• 34:17
  And then we went down this journey of, of being green only
• 34:20
  and, and being first to balance the grid, 1st, to buy our own
• 34:24
  real estate and develop the data centers and 1st to really go out
• 34:27
  into the AI business and that's starting to really expand
• 34:32
  rapidly. The AI is absolutely exploding,
• 34:36
  but I I do want to go back to the early days because I do
• 34:39
  remember the 2017 era. It was like the Wild West.
• 34:43
  But before we do that, I do want to give a shout out to the live
• 34:46
  stream 2700 of you guys watching live between YouTube and X And
• 34:52
  of course, shout out to the Rumble audience.
• 34:54
  Absolutely love rumble featuring simply Bitcoin on the front page
• 34:58
  more these days. Appreciate the platform where I
• 35:01
  think we're going to be doing. I don't know if I could say this
• 35:03
  out loud, but let's just say, you know, simply and rumble at
• 35:07
  at the Bitcoin conference should be a lot of fun.
• 35:09
  Anyways, Frank, back to you. So I want to talk about the
• 35:13
  early days 2017. I remember those days were
• 35:16
  absolutely crazy. That was the Wild West of of
• 35:21
  Bitcoin back then. It was not like it is today.
• 35:24
  It wasn't BlackRock saying, hey, we're getting into this,
• 35:28
  Goldman, we're getting into this.
• 35:30
  It was the Wild West era, Frank. Yes.
• 35:33
  And Bitcoin was 3000 and Ethereum was 300, Very, very
• 35:38
  different overall scope of what's going on.
• 35:41
  And I and I remember going in 2017 to consensus and seeing the
• 35:46
  keynote speaker being Abigail Johnson.
• 35:48
  It was a technology analyst when she first started, but she's a
• 35:51
  CEO of Fidelity. This is why she doesn't speak at
• 35:56
  a normal ETF investment conference, but she's speaking
• 36:00
  at a blockchain crypto of that. That was a big wake up call and
• 36:04
  saying that she'd been mining in Quebec.
• 36:06
  So that was part of that whole my journey of saying something
• 36:10
  big is happening. And she was very early and
• 36:13
  Fidelity is very early to show the significance of the
• 36:16
  blockchain and the vision that she had that all stock
• 36:19
  transactions will be done on the blockchain.
• 36:22
  So that would stop illegal shorting, that would stop failed
• 36:25
  sale settlements, everything would be seamless.
• 36:28
  So I think she's a real thought leader.
• 36:32
  Absolutely, guys. We're going to hit the culture
• 36:34
  segment. We're going to have updates for
• 36:36
  you guys on Hive. We'll be right back.
• 36:40
  Can I, can I say something real quick about this?
• 36:43
  This just goes to show that we are still early.
• 36:46
  And obviously you guys know, I've been kind of trolling.
• 36:48
  I love any data that confirms my bias here.
• 36:51
  And I, I'm not sure who, you know, the demographic is on this
• 36:56
  survey, but I think it really paints a picture of what Frank
• 37:00
  said. Like the younger generations,
• 37:02
  I'm sure they're not doing this Gallup poll here.
• 37:05
  And we all know that if you're, you know, under 35 or whatever,
• 37:08
  it's probably a greater, you know, percentage of the
• 37:12
  demographic that is all in on Bitcoin or, you know, cryptos or
• 37:15
  whatever you want to call it. We're we're much more open to
• 37:17
  this. But the older generation, they
• 37:19
  still have a learning curve. And this is what I always say
• 37:22
  when you go out and talk to normal people, it really does
• 37:25
  feel like only 4% of the population even has a, you know,
• 37:28
  a semblance of an understanding of what's going on with Bitcoin.
• 37:32
  So I love seeing this data because it does confirm my bias.
• 37:35
  You know, I go talk to people, you bring up Bitcoin and they're
• 37:37
  like, yeah, that's cool. Like, did you watch the game or
• 37:40
  whatever? So it just goes to show we are
• 37:42
  still early here. And I'm sure those numbers will
• 37:45
  rise very dramatically coming in the next couple of years.
• 37:48
  But it it, it really paints a picture that like it's going
• 37:52
  much higher. There's not that many people in
• 37:53
  Bitcoin and not and even in the people that are kind of exposed
• 37:57
  to it, they probably don't understand the full monetary
• 38:01
  revolution going on. So keep stacking.
• 38:04
  We're still early. Bitcoin is extremely
• 38:06
  underpriced. We're we're very early, you're
• 38:09
  absolutely right. And those surveys are like
• 38:11
  political surveys biased about who's going to win the
• 38:14
  elections. We saw that and and we're seeing
• 38:17
  this that that is predominantly maybe boomers that surveys been
• 38:21
  done with. So I I totally concur with what
• 38:24
  you're saying. Guys, it's going to be a great
• 38:28
  show. I, I can't believe I, I'm so
• 38:30
  excited for this. I'm so excited for this, this
• 38:34
  transfer that Frank is talking about.
• 38:36
  It's going to be interesting. It's going to be a totally
• 38:38
  different world. I think the, the younger
• 38:41
  generations as Frank and Opti are talking about, I think
• 38:44
  they're just going to be interested in completely
• 38:46
  different assets. I think that's just a
• 38:48
  generational thing and it's to be very, very exciting times.
• 38:52
  You know, these next 1020 years or so.
• 38:55
  Anyways, guys, stay tuned. We're going to hit the culture
• 38:57
  segment. We're going to be talking all
• 38:58
  things Hive. We'll be we'll be back in just a
• 39:01
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• 39:23
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• 41:04
  All right everybody, we are back and we're going to talk about
• 41:07
  all things Hive. And of course, joining us today
• 41:10
  is Frank Holmes, Executive Chairman of Hive Digital
• 41:14
  Technologies. We're about to break 3000 live
• 41:17
  viewers on the live show. Smash that like button if you
• 41:21
  guys are enjoying the content. We are literally about to break
• 41:25
  our goal of 200 likes. So I'm going to up it to 250
• 41:28
  likes by the time the show ends. So smash that like button if you
• 41:32
  guys are enjoying the content 500 live viewers on YouTube
• 41:36
  alone anyways Frank Frank's got the I I've never seen that hat
• 41:40
  before he's got the this. Is this is the Harvard hat?
• 41:44
  But it was the most popular swag at at Paris Blockchain Week.
• 41:49
  I don't. I don't have that one.
• 41:51
  Everyone's wearing this one in the Louvre and touring around,
• 41:55
  so it was. The color was beautiful.
• 42:01
  That that one's my favorite 1. I don't have that one.
• 42:03
  I have the white one. I have the black one.
• 42:04
  I have the I have the I have the the blue one, but I don't have
• 42:07
  the burgundy one. That one looks really, really
• 42:09
  cool. Anyways guys all updates on all
• 42:12
  things hive. So First off, congratulations
• 42:15
  Frank. Hive smashes 7 XA hashes in hash
• 42:20
  rate after commencing operations in Paraguay.
• 42:24
  Hive hit 7.3 XA hashes up 10% month over month, with plans to
• 42:31
  reach 11.5 EXA hashes by June and 18 EXA hashes by the end of
• 42:39
  the summer, adding one EXA hash every few weeks.
• 42:44
  You want to talk a little bit about that, Frank?
• 42:46
  Yeah, we're so excited about this rapid expansion and and we
• 42:51
  should be through every two weeks coming out.
• 42:53
  Wait, wait, hold on, Hold on, Frank.
• 42:54
  That's an understandment. Understatement.
• 42:57
  Rapid expansion, rapid rapid undersells.
• 43:00
  This is like super expense. This is like ultra level super
• 43:04
  speed expansion. Well, our goal is to get back up
• 43:08
  to three 3% of the world Bitcoin network on a daily production.
• 43:13
  So we're on that path and I think the strategic acquisition
• 43:17
  of Bit Farms Paraguayan assets supports this rapid scaling
• 43:21
  using hydropower. So it's it's working.
• 43:24
  We had some big cost savings. We had extra machines that that
• 43:29
  were that we had called buzz miners.
• 43:31
  That was the unique deal we did with Intel where we create our
• 43:35
  own ASIC chip with them. So we had a surplus of those.
• 43:39
  And so we were able to quickly repurpose those, send them down
• 43:42
  to Paraguay and start plugging them in.
• 43:45
  And so every two weeks, in addition to the cannons that are
• 43:49
  coming in, the bit mains that are coming in, we were able to
• 43:53
  redeploy something that adds up to almost $30 million of CapEx
• 43:58
  spending we didn't have to worry about to fast track the growth.
• 44:02
  Yeah. And then that's something that
• 44:03
  we were talking about before right at how you were able to
• 44:06
  save, I think it was 20, seven, $30 million worth of equipment
• 44:11
  by essentially just redeploying existing miners.
• 44:15
  And one of the things, one of the things also too that that
• 44:18
  was really interesting to me, Frank, you're talking about it
• 44:21
  earlier, is that even miners that perhaps would essentially
• 44:26
  be, you know, with today's mining difficulty would
• 44:30
  essentially be worthless. Some of those are still useful
• 44:34
  if the electricity price is low enough.
• 44:36
  Is that correct? Absolutely.
• 44:38
  It's the key driver. When you look at the cost of
• 44:42
  everything, it really is the cost of electricity.
• 44:46
  And there's a simple matrix you can get for every type of
• 44:48
  machine, ASIC machine. And what price do they break
• 44:52
  even? And you can see that the the
• 44:55
  magic number is like $0.02. But it's hard to get anything at
• 44:58
  two cents on scale. So some small operations,
• 45:03
  they're able to take old machines and reuse them.
• 45:07
  So we said let's not waste anything, let's get them sent
• 45:10
  down right away to Paraguay. Incredible, incredible.
• 45:14
  So another thing that I wanted to talk about as well is that
• 45:18
  Hive produced 102 Bitcoin in April 44400 and four year today
• 45:26
  targeting 6 Bitcoin a day by end of June as new miners come
• 45:32
  online. That's a lot of Bitcoin.
• 45:34
  Frank, it is and and what we're happy with is it our production
• 45:38
  did go up, but we remember the global hash rate also went up.
• 45:43
  So that means less Bitcoin for everyone competing.
• 45:47
  So it's much more competitive looking for that Bitcoin.
• 45:50
  So you have to be like running and training for a marathon.
• 45:53
  You have to be able to continuously increase your
• 45:56
  production profile to stay ahead.
• 45:59
  And so that's what we've been able to do and we're happy about
• 46:02
  it and we see is full path over the next 6 to 9 months of rapid
• 46:07
  growth. So, Frank, I know I asked you
• 46:09
  this question, but I'm still having trouble wrapping my head
• 46:12
  around this. How are you able to do this
• 46:14
  with? I think the Simply Bitcoin team
• 46:17
  is like, we're like 10 people we're.
• 46:19
  Like half of that. Yeah, like, how are you able to
• 46:22
  do all of this, this rapid Navy SEAL, you know, ultra fast
• 46:27
  expansion with only 22 or 25 employees?
• 46:32
  Well, it's we've been able to do it because we've been able to
• 46:36
  see other people in the in the gold industry do it with the
• 46:41
  gold royalty model. And so that's what we're happy
• 46:44
  to be able to, we're executing on it and we've demonstrated
• 46:48
  that over and over every quarter, every year.
• 46:52
  We've lived through two halvings we've demonstrated for the
• 46:55
  shareholders of showing a positive operating income,
• 46:59
  whereas a lot of other people took big hits.
• 47:01
  We haven't done any of these convertible Deb's because it
• 47:04
  creates a short position on your stock it just to buy Bitcoin and
• 47:09
  have a huge note debt on your balance sheet.
• 47:12
  We've used our ATM, we've looked at it when we when we're using
• 47:16
  it to have we focused on driving the highest cash flow return on
• 47:21
  invested capital. So when you have a portfolio, a
• 47:24
  suite of different ASIC chips and you have different costs of
• 47:27
  energy and you're dealing with five different languages over
• 47:31
  nine time zones, you're always fine tuning your, your, your
• 47:35
  suite of, of assets. And that, that thought process
• 47:39
  that we huddle every day, every morning, we know all the
• 47:44
  machines where the gaps have to be zapped anywhere in the
• 47:47
  country. We all help with that.
• 47:49
  And in the afternoon, we all huddle again to see if there's
• 47:53
  anything that's really significant, maybe there's a
• 47:55
  delayed delivery. What can we do to to move
• 47:58
  equipment around because we're so focused on the cash flow
• 48:01
  return on invested capital? Yeah.
• 48:03
  And, and it's absolutely incredible.
• 48:05
  And one, one of the things that I'll say to Frank as well is
• 48:09
  again the ability for you guys. So could you break down in terms
• 48:15
  of how are you able to acquire the bit farms operation in
• 48:21
  Paraguay? What were the details behind
• 48:23
  that? Well, they wanted to, they
• 48:26
  bought Strongholds, they want to refocus on America, new CEO,
• 48:31
  Ben's a great guy, great young guy.
• 48:34
  And so that was his position. That became our opportunity
• 48:37
  because we want to expand and Paraguay and we recall we're
• 48:43
  kept increasing our whole position, whole position for the
• 48:46
  past couple years. We go back two years ago and
• 48:49
  Bitcoin was under 30,000. Last year averaged 62,000.
• 48:53
  So we were able to all of a sudden use some of our Bitcoin
• 48:57
  at at 98 thousand $97,000 to to acquire the operations and still
• 49:04
  maintain our growth. And last year we made an
• 49:08
  announcement that we did go and buy for 100 MW transaction a
• 49:12
  year ago for a high before the Bit Farms acquisition.
• 49:16
  So we already had equipment coming online.
• 49:19
  And so I think from that end we've had to sell some Bitcoin.
• 49:23
  We've said that, but we feel really good about it because
• 49:26
  we'll be able to replace it all once we get our operations up to
• 49:29
  re hold and get our inventory position build up on our balance
• 49:33
  sheet again. Incredible, Frank.
• 49:35
  One of the things that we were talking about in mining Disrupt
• 49:38
  in Fort Lauderdale is AI and HPC integration.
• 49:42
  Hive is investing in AI and high performance computing services.
• 49:46
  How do these ventures complement your Bitcoin mining operations?
• 49:52
  But AI is going to just retrive when you're thinking about
• 49:55
  building a data center and, and how you're moving things and
• 49:57
  what you're doing and reconfigurations, you can get
• 50:00
  micro right into the Bitcoin ecosystem and then you can see
• 50:04
  the huge boom in need. Some of the real important parts
• 50:08
  have taken place of what they call sovereign.
• 50:10
  That is, you want the data center.
• 50:12
  TX government does not want their data center in Louisiana.
• 50:16
  They want it in Texas, Nebraska wants it in Nebraska, and you're
• 50:20
  getting states, 52 states are all thinking about the data
• 50:23
  Center for the, for the state government to be in their state.
• 50:28
  We have countries now, so focus on sovereign data centers and
• 50:32
  you can see the value, value change is is significant on
• 50:37
  where your source of electricity are.
• 50:39
  You're seeing activist shareholders come in to go after
• 50:45
  Bitcoin miners and tell that they have to repurpose for the
• 50:48
  HBC world because they see a long term more sustainable
• 50:52
  growth. So we are seeing those dynamics,
• 50:54
  but Hive has already been going down that path and building out.
• 50:57
  We hired a new president to expand that Craig Guevara's who
• 51:02
  is involved with building Apple's data centers in Canada.
• 51:06
  He's got great experience over the decades in the space from
• 51:10
  telecom to data center business directly also sourcing
• 51:15
  electricity. And so that only lend itself
• 51:18
  that we could at the beginning mine Ethereum before they went
• 51:22
  down the dark hall of going into from proof of work to proof of
• 51:25
  stake and really hurt their relative valuation to Bitcoin,
• 51:29
  which we warned about. And that's why we sold our
• 51:31
  Etherium and and we've refocused.
• 51:35
  So we knew that when you're mining Etherium, you need GPU
• 51:39
  chips. So we develop an expertise in
• 51:42
  using a data Center for GPU and that made the stepping stone
• 51:47
  going into HPC, high performance computing and AI much easier.
• 51:53
  So we're happy our cash flow is is is through $1,000,000 a
• 51:57
  month. That's what's really important
• 52:00
  to us. We had a vision of a quarter
• 52:03
  $1,000,000 a year, a quarter $1,000,000 a quarter, a quarter
• 52:07
  $1,000,000 a month and a quarter $1,000,000 a week.
• 52:10
  So now we're at a through a quarter $1,000,000 a week, the
• 52:12
  week and the next big hurdle will be getting up to that
• 52:15
  milestone of a quarter $1,000,000 a day in just the
• 52:19
  HPC. We believe that we're in the
• 52:21
  right traction to go there and we see other people going down
• 52:25
  the path, but we look through the numbers that and they're not
• 52:28
  as profitable as what we've been able to do so far.
• 52:31
  So Touchwood. So another thing also that
• 52:35
  perhaps people in the audience don't, are not aware of Hive is
• 52:39
  actually in the top 20 in, in terms of publicly traded
• 52:44
  companies of Bitcoin holdings. You guys hold 2200 Bitcoin and
• 52:51
  you were saying earlier you, you guys had more, but you used some
• 52:55
  of those holdings that you acquired at a much cheaper price
• 52:58
  around the 30K level to acquire the bit farms operation in, in
• 53:05
  Paraguay. Now it was a.
• 53:06
  Good trade, you know we. It was an amazing, it's a great
• 53:09
  trade and. We sell at 90,000, they turn
• 53:12
  around and buy a bunch of machines and and electricity and
• 53:17
  and campus of a beautiful campus.
• 53:21
  So we said we can rebuild it because we've done it many times
• 53:24
  since Hive has gone public. We have used the balance sheet
• 53:28
  to sell some, then buy back and replace. 100% agree and IA 100%
• 53:36
  agree it was a great trade. You guys are mining 6 Bitcoin or
• 53:39
  you guys are are are going to get to 6 Bitcoin a day.
• 53:42
  Absolutely incredible. Now Frank, final question for
• 53:45
  you and I really appreciate you joining us today.
• 53:48
  How much profit are you making per employee?
• 53:53
  Well, the revenue is last year we should be running around
• 53:55
  6,000,000 and I believe it will grow here to over 10 million in
• 54:02
  in per per employee. If you look at operating EBITDA,
• 54:08
  it's about 60 million a year last year and and they call a
• 54:14
  run rate of what we've announced.
• 54:16
  So that means that it's a very robust cash flow basis when you
• 54:21
  look at per employee and it's very much like a gold royalty
• 54:25
  company. Incredible.
• 54:27
  And, and let me ask you something for Frank, because
• 54:30
  you, you keep bringing up the, I'm assuming you have experience
• 54:35
  in the gold industry because you, you keep referencing, you
• 54:38
  keep referencing gold here and there and you using the same
• 54:43
  strategies from the gold industry to the Bitcoin mining
• 54:46
  industry. Well, the the whole idea of
• 54:48
  mining Bitcoin comes from gold mining and both need electricity
• 54:55
  to have a final product that to manifest something that is a
• 54:59
  final virtual asset or it's a tangible asset, you need
• 55:03
  electricity and it's recognizing that both are decentralized
• 55:08
  assets. The big difference is 1 is much
• 55:10
  easier, more portable to deliver, 1 is more pretty to
• 55:14
  wear and and you can use it like jewelry.
• 55:19
  What a lot of people realize that that that they are both
• 55:23
  decentralized private wealth assets and I think that's what's
• 55:27
  important. And there is a big part of the
• 55:29
  population that likes something tangible, the concept of
• 55:34
  virtual, something that can be transportable that is only about
• 55:37
  half of the world. They all want to have the cash
• 55:41
  in their pocket. They don't want it in in the
• 55:43
  bank. They want the cash, they want
• 55:45
  the gold. And, and so I just think that
• 55:47
  both of them are. It was easy for me to grasp
• 55:52
  Bitcoin from gold markets. Then, if you didn't understand
• 55:56
  the gold markets, it was much more challenging to grasp
• 55:59
  Bitcoin's significance and importance for your own personal
• 56:06
  wealth, for your ability to to share that wealth and send it
• 56:09
  around the world. That only came because I
• 56:13
  understood the world of gold. I wrote books on it and as a
• 56:16
  money manager, I'm known for the world of gold.
• 56:20
  And it was, it was easier, it was easy to make the that is so
• 56:24
  fascinating to me anyways, Frank.
• 56:26
  It was an honour. 3500 people. 3545 people.
• 56:31
  Watching. Live now.
• 56:33
  Frank, thank you so much for joining us on Simply Bitcoin
• 56:36
  Live Today. Really appreciate it.
• 56:38
  Someone is asking for the hive burgundy hat in the chip.
• 56:45
  Someone who's Nico? No, no, Nathan.
• 56:51
  Nathan I. He's not slow, he'll get him to
• 56:54
  you fast. Nathan, I apologize beforehand.
• 56:59
  For. Blasting your e-mail in the
• 57:01
  chat. We'll put it in the chat.
• 57:02
  You guys could e-mail Nathan and he'll send you some amazing Hive
• 57:06
  merch. Frank Holmes, executive chairman
• 57:09
  of Hive digital Technologies. Hi, Frank.
• 57:11
  Thank you so much for joining us on today's show.
• 57:13
  Thank you, all of you and look up.
• 57:14
  That's how Hive Bitcoins going. Here we go.
• 57:19
  Appreciate it All right, guys, it's still going to be an
• 57:21
  amazing show. We still have tons to cover.
• 57:23
  Frank, thank you so much for joining us.
• 57:25
  Really appreciate it guys. We're going to talk about we're
• 57:28
  going to talk to the news segment and Opti and I are going
• 57:31
  to have a conversation. I mean, I feel like bitcoins
• 57:34
  back, man, the life in Bitcoin is back.
• 57:36
  The price is pumping. I think we reached.
• 57:38
  Chico's not. Bearish anymore?
• 57:40
  We reached 105 K. We went through some really,
• 57:44
  really dark times. But now really dude, it felt, it
• 57:49
  felt like 5 years to be perfectly frank.
• 57:53
  But anyways, guys, if you guys are enjoying today's show, smash
• 57:55
  that like button. We already broke our 200 like
• 57:58
  goal. Help us break 250 likes by the
• 58:01
  time the show ends. And guys, we still have tons to
• 58:05
  cover during the news segment. We will be right back in just a
• 58:09
  second. I want to give a shout out to
• 58:12
  our sponsor Casa. Casa makes self custody easy and
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• 1:00:59
  Anyways, this is what I wanted to cover today.
• 1:01:02
  The news broke earlier today. David Bailey and Bitcoin native
• 1:01:07
  holding company Nakamoto announced merger with Kinley MD
• 1:01:12
  to establish a Bitcoin treasury company.
• 1:01:16
  So now we have 3. We have the original micro
• 1:01:20
  strategy with half a million Bitcoin.
• 1:01:23
  We have Jack Mall Company 21 partnering with Tether and
• 1:01:29
  SoftBank and now we have David Baileys company, which is called
• 1:01:36
  Nakamoto, the third Bitcoin holding company going into the
• 1:01:42
  game. As you can see.
• 1:01:45
  Here is the scoreboard sailor leading the pack with half a
• 1:01:49
  million Bitcoin. You have Jack Mahler's company
• 1:01:53
  or not? It's not he, he's the CEO and he
• 1:01:55
  owes equity in that company with 31,000 Bitcoin and David
• 1:02:00
  Bailey's company coming in hot as well.
• 1:02:04
  Extremely exciting stuff, these holding companies.
• 1:02:08
  I will say this though, ladies and gentlemen, this is what I'll
• 1:02:13
  say. You have a lot of these now.
• 1:02:19
  You have a lot of these companies now.
• 1:02:21
  The kind of edge is, is not there anymore.
• 1:02:25
  I think that the reason as to why MicroStrategy was so
• 1:02:28
  successful in the beginning was for a couple of reasons.
• 1:02:32
  Reason number one is it was obviously I had first mover
• 1:02:37
  advantage, which is huge. That's why they were able to
• 1:02:40
  acquire as much Bitcoin as they did.
• 1:02:43
  Reason #2 is there was no other Bitcoin holding company.
• 1:02:48
  So if you were in, you know, a a publicly traded company and you
• 1:02:52
  were essentially barred from owning exposure to Bitcoin or
• 1:02:57
  spot Bitcoin, you essentially used MicroStrategy as a vehicle.
• 1:03:03
  You used MicroStrategy as a way to get exposure to Bitcoin
• 1:03:07
  without breaking, you know, your company's policies or rules or
• 1:03:11
  regulations or blah, blah, blah, blah, blah, blah.
• 1:03:13
  So, you know, now that there's multiple options, the alpha in a
• 1:03:21
  lot of these, I think it's a race to the bottom.
• 1:03:24
  That's my professional that no, I was going to say professional
• 1:03:27
  opinion. That's my humble opinion.
• 1:03:32
  I think it's a race to the bottom.
• 1:03:34
  And in my opinion, I mean, like, you know, like when you have a
• 1:03:40
  bunch of companies competing, right?
• 1:03:43
  Like, you know, it's a little bit different than when there is
• 1:03:45
  just a monopoly or when there was just one big one, which was
• 1:03:49
  MicroStrategy right? Now, of course, this is good for
• 1:03:52
  Bitcoin. It allows institutional
• 1:03:54
  investors to get adoption or exposure to Bitcoin.
• 1:03:58
  Great for David Bailey, congratulations.
• 1:04:02
  David Bailey, congratulations for our friends over at BTC Inc,
• 1:04:05
  Bitcoin Magazine, the Bitcoin conference, This is amazing news
• 1:04:09
  for them. Congratulations, but again,
• 1:04:13
  like, you know, you, you can't have this strategy forever.
• 1:04:17
  Like eventually you know, the alpha's not going to be there.
• 1:04:21
  Like it's just not in my opinion, right?
• 1:04:24
  Maybe I'm completely wrong, but I feel like this is like, you
• 1:04:27
  know, this is the current thing these days, right?
• 1:04:29
  Like Michael Saylor proved the concept absolutely crushed it
• 1:04:34
  from a holdings like from a from a performance perspective.
• 1:04:38
  Jack Mahler's comes in hot with our friends over at Tether and
• 1:04:43
  you know, SoftBank as well. And then you know, David Bailey,
• 1:04:48
  another great brilliant Bitcoin entrepreneur essentially, you
• 1:04:52
  know, copying the model. So you have essentially 2
• 1:04:55
  MicroStrategy, you know, the companies that have followed in
• 1:04:59
  the footsteps of MicroStrategy. I mean, if it were that easy,
• 1:05:02
  everyone's just going to end up doing the same thing.
• 1:05:04
  That's just not how it works, right?
• 1:05:06
  I think, you know, MicroStrategy, the reason it
• 1:05:09
  performed the way it did is it had first mover advantage.
• 1:05:12
  They weren't competing against everyone, anybody, anybody else.
• 1:05:15
  Now that there's two companies essentially doing the exact same
• 1:05:18
  thing, right? I, I, I, I think they're taking
• 1:05:21
  advantage of a window. And it was not only me saying
• 1:05:24
  this, by the way, we have Mauricio Bartolomeo the the the
• 1:05:29
  Co founder of Leaden, one of our partners.
• 1:05:32
  And he was basically saying the same thing like this is a short
• 1:05:35
  window, an opportunity where essentially people are coming in
• 1:05:39
  and you know, they're they're launching these Bitcoin holding
• 1:05:41
  companies. And the reason they're so
• 1:05:43
  successful is because people are using it as a vehicle to get
• 1:05:47
  exposure to Bitcoin, where normally they wouldn't be able
• 1:05:51
  to get exposure to Bitcoin either through these through
• 1:05:54
  direct spot Bitcoin ETFSI mean, sorry, direct spot Bitcoin
• 1:05:59
  exposure or through exposure through the ETFs.
• 1:06:02
  You know, this also functions kind of as a leverage play on
• 1:06:06
  Bitcoin, right? Like if Bitcoin goes up 20%,
• 1:06:09
  MicroStrategy will probably outperform it, but also to the
• 1:06:12
  downside as well. Anyways, but you know, all
• 1:06:17
  things aside, congratulations David Bailey, congratulations,
• 1:06:21
  Jack Mahlers, you know, and following in the footsteps of of
• 1:06:24
  the Chad himself, Michael Saylor.
• 1:06:26
  So let's get into some of the details and then me and Opti
• 1:06:29
  will talk about it and we'll wrap today's show.
• 1:06:31
  So anyways, David Bailey and Bitcoin native holding company
• 1:06:34
  Nakamoto announced merger with Kindly MD to establish a Bitcoin
• 1:06:38
  treasury. Kindly MD, a Utah based
• 1:06:42
  healthcare services provider, has entered into a merger
• 1:06:45
  agreement with Nakamoto Holdings, a Bitcoin native
• 1:06:48
  holding company. The transaction, announced May
• 1:06:51
  12th, 2025, included $710 million in financing through a
• 1:06:56
  combination of private placement and convertible notes.
• 1:06:59
  The merger will create a publicly traded company focused
• 1:07:02
  on establishing a Bitcoin treasury strategy, with 510
• 1:07:05
  million raised through private placement and private equity at
• 1:07:09
  $1.00 per $1.00 twelve $1.12 per share and $200 million in senior
• 1:07:16
  secured convertible notes maturing in 2028.
• 1:07:19
  David Bailey, founder of BTC Inc and Nakamoto Holdings, will
• 1:07:23
  serve as CEO of the combined entity.
• 1:07:26
  Tim Pickett will continue managing kindly these healthcare
• 1:07:30
  operations, which include four clinics across Utah providing
• 1:07:34
  integrated medical services, pain management and mental
• 1:07:38
  healthcare. David Bailey, founder and CEO of
• 1:07:41
  Nakamoto, said Nakamoto vision is to bring Bitcoin to the
• 1:07:45
  center of. Global capital markets.
• 1:07:47
  Packaging it into equity, debt and preferred shares and new
• 1:07:51
  hybrid structures that every investor can understand and own.
• 1:07:55
  Our mission is simple. List these instruments on every
• 1:07:58
  major exchange in the world, he continued.
• 1:08:01
  Nakamoto is building the first publicly traded conglomerate
• 1:08:04
  designed to accelerate that future.
• 1:08:06
  The financial institutions who define their chapter in history
• 1:08:09
  have all carried the names of their founders, the Medici, the
• 1:08:13
  Rothschilds, the Morgan, the Goldman.
• 1:08:16
  Today we state that legacy see on nakamoto, the pipe financing
• 1:08:20
  attracted 200 investors globally, including
• 1:08:23
  institutional investors such as attack.
• 1:08:26
  I'm sorry guys, I can't pronounce this.
• 1:08:29
  Akati venture, Thai Ventures, RR Arrington Capital, BSQ Capital
• 1:08:36
  Partners, Kingsway off the chain Capital Parafi, RRK Capital, Van
• 1:08:42
  Eck, Yorkville advisors alongside individuals including
• 1:08:47
  Adam Back, Balaji and a bunch of other well known people as well.
• 1:08:52
  Bellaji, bro Bellaji, thank you. You guys got the point.
• 1:08:56
  Another Bitcoin holding company, bullish for Bitcoin overall.
• 1:09:00
  I love that stance in terms of, you know, these are the
• 1:09:04
  institutions of the past. Goldman, Rothschild, Morgan,
• 1:09:09
  these are the institutions of the future.
• 1:09:11
  Satoshi or Nakamoto, I think that was absolutely badass.
• 1:09:15
  I mean, could you imagine if the Bitcoin holding companies of
• 1:09:18
  today like 21, like strategy, like like Nakamoto, replace the
• 1:09:26
  big boys, you know, the, the existing financial elite
• 1:09:31
  institutions. I mean, that would be absolutely
• 1:09:33
  crazy from a bitcoiners perspective.
• 1:09:35
  One of the things I used to say back in the day, back in the
• 1:09:38
  2016, 2017, 2018 era, I said we're not done.
• 1:09:43
  We haven't won yet. Until you know, if you go to any
• 1:09:47
  major city here in the US and probably in Europe too, Fuopti,
• 1:09:53
  probably in Europe too, what you'll notice is you'll see the
• 1:09:58
  names of banks on the top of the highest buildings.
• 1:10:01
  And what I used to say back in the day, and I'm going to say it
• 1:10:04
  right now again, is what I would like to say is I want to see
• 1:10:08
  Bitcoin on the top of those highest buildings.
• 1:10:11
  And maybe it's not Bitcoin, maybe it's Bitcoin holding
• 1:10:13
  companies, but I would much rather see strategy at the top
• 1:10:17
  of the building or Nakamoto at the top of the building than
• 1:10:21
  Wells Fargo or Bank of America. I don't know, maybe I'm a little
• 1:10:24
  bit biased here, but I think that's pretty cool.
• 1:10:27
  Anyways, Opti, what's your take? And then we'll wrap up today's
• 1:10:30
  show. Yeah, Well, I think on that
• 1:10:33
  first point you said kind of about, you know, these treasury
• 1:10:36
  companies. It, it is a window here and I
• 1:10:39
  think there's still a little juice to squeeze out of it.
• 1:10:41
  I I don't think it's kind of hit hit, you know, the wall yet.
• 1:10:45
  It it I don't think it's fully run its course, but it is
• 1:10:48
  feeling like it's getting to that point where you're seeing a
• 1:10:51
  lot of companies kind of pivot their, you know, their core
• 1:10:54
  Bitcoin or sorry, their core business model to go more
• 1:10:58
  Bitcoin. And it does seem like that might
• 1:11:00
  be running its course soon. It does seem like the new I like
• 1:11:04
  Bitcoin by my stock kind of meme that we've seen in the past,
• 1:11:07
  like I like Bitcoin by my shit coin.
• 1:11:09
  It seems like the new iteration and you know, I'm not
• 1:11:12
  necessarily out here buying these stocks and I think this
• 1:11:15
  might be a good thing in regards to probably pulling a lot of
• 1:11:18
  liquidity away from the altcoins.
• 1:11:20
  And you know, for you guys waiting for the, the fabled, you
• 1:11:22
  know, shit coin cycle again. I I don't know if that's going
• 1:11:25
  to happen because a lot of the capital is going either straight
• 1:11:27
  into Bitcoin via ETFs or into Bitcoin treasury companies.
• 1:11:32
  Now reading through that press release, it does, I think kind
• 1:11:37
  of highlight just how different the 21 capital is from Jack
• 1:11:42
  Mahler's. It's literally core built to
• 1:11:45
  just be a Bitcoin treasury company instead of, you know,
• 1:11:48
  pivoting like it's it's core business model to start to
• 1:11:51
  acquire Bitcoin. And that's basically what
• 1:11:53
  separates it from strategy and Nakamoto and or metaplanet,
• 1:11:58
  etcetera, etcetera. But there it does show and we
• 1:12:02
  did see like it's stock go crazy, which is like, you know,
• 1:12:05
  it's pretty much a zombie companies zombie stock here.
• 1:12:08
  And then they announced this and it just went parabolic.
• 1:12:11
  So, you know, shouts out to the Bitcoin mag team because they,
• 1:12:14
  you know, they, they came out with a fat bag on this one.
• 1:12:17
  But I think I think we are in a new kind of like hype cycle
• 1:12:23
  here. And that new hype cycle is the
• 1:12:25
  Bitcoin stocks. And I don't think that's
• 1:12:27
  necessarily a bad thing. Obviously I want people to get
• 1:12:30
  exposure to Bitcoin and I want people to understand that
• 1:12:33
  Bitcoin is is basically something they need to add to
• 1:12:35
  their portfolio. So this is baby steps towards
• 1:12:38
  people basically accepting Bitcoin and realizing what
• 1:12:41
  Bitcoin is and why they need Bitcoin.
• 1:12:43
  Then I think this is a good step moving forward.
• 1:12:45
  Obviously we've we've heard the trope now or the meme now that
• 1:12:49
  it's not that Wall Street is entering the Bitcoin industry,
• 1:12:53
  it's that Bitcoin is the Trojan horse going into Wall Street.
• 1:12:57
  And the, the point remains the same that you're seeing there is
• 1:13:00
  a huge hype around Bitcoin, whether it's Bitcoin ETFs or
• 1:13:03
  Bitcoin treasuries. And now everyone's trying to
• 1:13:06
  find a way to squeeze as much, as as much gain as they can out
• 1:13:11
  of Bitcoin. And you know, for better or
• 1:13:13
  worse, I think this is a good thing.
• 1:13:14
  This is the path towards hyper bitcoinization.
• 1:13:17
  So, you know, I, I think this is great for the, the greater, you
• 1:13:21
  know, narrative around Bitcoin that, hey, you know, if you add
• 1:13:25
  Bitcoin to your treasury, whether you become the next
• 1:13:28
  micro strategy or not, you're doing a few things.
• 1:13:30
  One, you're bringing attention to your company and your stock.
• 1:13:33
  2, you're preserving your purchasing power with Bitcoin.
• 1:13:35
  And three, maybe you are increasing shareholder value.
• 1:13:38
  So until that fully runs its course and we fully get
• 1:13:42
  saturation point, which who knows what that'll be.
• 1:13:45
  We'll just be looking back in hindsight and know like, OK,
• 1:13:47
  this was the point when you no longer want to buy Bitcoin
• 1:13:50
  treasuries. I think this is a pretty solid
• 1:13:52
  move for the Bitcoin mag team, or rather for David Bailey and
• 1:13:56
  the other other investors there. So it just goes to show Bitcoin
• 1:13:59
  is maturing and people want that Bitcoin exposure.
• 1:14:02
  So hey, I would just hold, you know, the asset itself.
• 1:14:06
  I would just hold Bitcoin in self custody itself.
• 1:14:08
  But you know, you can either buy their stocks or you can just do
• 1:14:12
  what they're doing and buy Bitcoin.
• 1:14:14
  The choice is yours. Obviously, there's different
• 1:14:17
  factors here. If you have like a four O 1K or
• 1:14:19
  money in the traditional system, it's probably harder to get into
• 1:14:22
  Bitcoin directly, but you can still get some price exposure.
• 1:14:25
  So I think this is a win, win. 100% guys, this was today's show
• 1:14:30
  for May 12th, 2025. Before we wrap it up, I do want
• 1:14:34
  to give an extremely special shout out to Simply Bitcoins
• 1:14:38
  official concert Bitcoin 2025. Guys look at all these speakers.
• 1:14:44
  Ross Olberg at the top, Michael Saylor, Senator Lummus, David
• 1:14:50
  Sachs, Bo Hines, Jack Mahler's, Lynn Alden, Paolo, CEO of Taylor
• 1:14:56
  Tether, Adam Back, Safedeen. I mean this is jam packed.
• 1:14:59
  They they also just announced it's not on there, but they just
• 1:15:02
  announced. Satoshi's going to be a speaker.
• 1:15:04
  Like it's going to be crazy. The Winklevi twins, man.
• 1:15:07
  You definitely don't want to miss this Bitcoin conference.
• 1:15:12
  Scan the QR code to get 10% off your tickets.
• 1:15:16
  You definitely don't want to miss this Bitcoin celebration.
• 1:15:21
  Me and Opti, of course, are going to be there.
• 1:15:23
  The entire Simply Bitcoin crew is going to be there.
• 1:15:25
  We're going to have a booth and the media segment.
• 1:15:27
  Hope to see you guys there. We're going to be bringing our
• 1:15:29
  merch. If you guys want to buy our
• 1:15:31
  merch, go check it out. Go check us out at the Bitcoin
• 1:15:34
  conference in Vegas. Scan the QR code now.
• 1:15:37
  Get your tickets before the prices go up.
• 1:15:40
  This is going to be an incredibly special conference.
• 1:15:43
  Ross Albrecht is back. Ross Albrecht is free and Ross
• 1:15:47
  Albrecht is going to be speaking at Bitcoin 2025 and also
• 1:15:52
  recently announced the vice president JD Vance will be
• 1:15:56
  speaking as well. Again, promo code simply 10%
• 1:16:00
  off. Anyways, my camera overheated
• 1:16:03
  again. I'm going to have to fix that
• 1:16:04
  for tomorrow. Guys.
• 1:16:05
  Love you all appreciate it. If you guys enjoyed today's
• 1:16:08
  show, smash the like button. Consider subscribing.
• 1:16:10
  If you enjoyed today's content, I'm your host Nicos, my
• 1:16:14
  legendary Co host Optimus Fields.
• 1:16:16
  We're simply Bitcoin live and we'll see you guys on the next
• 1:16:19
  one. Take care, everybody.
• 1:16:21
  Today's episode was brought to you by bitcoinwell.com, a
• 1:16:24
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• 1:16:27
  independence.