Latest / Simply Bitcoin / IT'S OFFICIAL: US STRATEGIC BITCOIN RESERVE - $500k Bitcoin Confirmed? | EP 1198

Transcript

IT'S OFFICIAL: US STRATEGIC BITCOIN RESERVE - $500k Bitcoin Confirmed? | EP 1198 · Simply Bitcoin

• 0:00
  It's official. Donald Trump last night just
• 0:04
  signed an executive order creating EU s s Bitcoin
• 0:07
  Strategic Reserve. But what is happening in exactly
• 0:10
  60 minutes could be even bigger. The first ever White House
• 0:14
  Crypto Summit is happening at 1:30 PM Eastern Time.
• 0:17
  And we're going to try to cover that live for you guys in the
• 0:19
  culture. So make sure you stick around
• 0:21
  for that because we have a very special show prepared for you
• 0:24
  today. But before we get into all that,
• 0:27
  we need to cover what Donald Trump did yesterday, today,
• 0:30
  because this new executive order could be the thing to trigger
• 0:34
  500K Bitcoin this year in 2025. The magnitude of this move is
• 0:40
  hard to overstate. The issuer of the world reserve
• 0:44
  currency just validated Bitcoin as a credible and neutral global
• 0:49
  reserve asset. What a time to be alive, guys.
• 0:52
  Let's get into it. And of course, I am not alone.
• 0:55
  We actually have a very special panel for you guys today.
• 0:58
  We have Chris Alemo, everyone's favorite neighborhood friendly
• 1:01
  Bitcoiner, and then we have Nico and Sophie coming on for today's
• 1:07
  show. So we have a great, great jam
• 1:10
  packed show for you guys. We have the whole simply Bitcoin
• 1:12
  team for you. Anyways, I I'm going to have to
• 1:15
  rant. There's a lot of things to
• 1:16
  cover. Of course, Nico, pop in whenever
• 1:17
  you want to. Let's just start with the first
• 1:20
  clip. Here we have the actual clip of
• 1:22
  Donald Trump signing the strategic Bitcoin reserve.
• 1:27
  Establishing a strategic Bitcoin reserve and digital asset
• 1:29
  stockpile. This is a promise that you made
• 1:31
  throughout the campaign, and today we're keeping that
• 1:33
  promise. The reserve will be capitalized
• 1:35
  with Bitcoin that the federal government already owns so it
• 1:38
  won't cost taxpayers a dime. This is like a digital Fort Knox
• 1:41
  for digital gold. And premature sales of Bitcoin
• 1:46
  over the past years cost American taxpayers over $17
• 1:49
  billion in lost value because we didn't have a long term
• 1:52
  strategy. Now we do so.
• 1:55
  And this is something you. Believe in 100% Yeah.
• 1:58
  And the ultimate. And you made the promise, right?
• 2:07
  Absolutely. He didn't sound interesting.
• 2:09
  Yeah, he didn't seem down there at all.
• 2:11
  He's like, he's like, you believe in this, right?
• 2:14
  We. I.
• 2:14
  I made the promise right? There you go, it's official.
• 2:18
  It's official. It's officially signed in to law
• 2:22
  with an executive order. Now, of course, let's break into
• 2:25
  some of the tweets covering what the executive order actually
• 2:28
  does. And of course, we're going to
• 2:30
  start with David Sachs because this was the first news to hit
• 2:33
  the Internet. And so this is where we're going
• 2:35
  to start. Of course, David Sachs on
• 2:36
  Twitter goes just a few minutes ago, President Trump signed an
• 2:39
  executive order to establish a strategic Bitcoin reserve.
• 2:42
  Now this, this statement right here, this paragraph here is the
• 2:45
  one that I think a lot of Bitcoiners kind of got onto,
• 2:47
  made a lot of noise, a lot of cynicism coming out of this.
• 2:50
  The reserve will be capitalized with Bitcoin owned by the
• 2:53
  federal government that was forfeited as part of criminal or
• 2:56
  civil asset forfeiture proceedings.
• 2:58
  This mean this means it will not cost taxpayers a dime.
• 3:01
  It is estimated the US government owns about 200,000
• 3:04
  Bitcoin and will break down some of those numbers later.
• 3:06
  However, there has never been a complete audit.
• 3:09
  The executive order directs a full counting of the federal
• 3:11
  government's digital asset holdings.
• 3:13
  The US will not sell any Bitcoin deposited into the reserve.
• 3:17
  It will be kept as a store of value.
• 3:19
  The reserve is like a digital Fort, not for the cryptocurrency
• 3:22
  often called, quote digital gold.
• 3:24
  Premature sales of Bitcoin, as you heard, have already cost US
• 3:27
  taxpayers over $17 billion in lost value.
• 3:31
  Now the federal government will have a strategy to maximize the
• 3:34
  value of its holding. The Secretaries of Treasury and
• 3:37
  E-commerce are authorized to develop budget neutral
• 3:39
  strategies for acquiring additional Bitcoin, provided
• 3:42
  that those strategies have no incremental cost on American
• 3:46
  taxpayers. In addition, and this is
• 3:48
  probably the part that a lot of Bitcoiners were, you know,
• 3:51
  celebrating as in a sigh of relief that things have changed.
• 3:54
  In addition, the executive Order establishes AUS digital assets
• 3:58
  stockpile consisting of digital assets other than Bitcoin
• 4:01
  forfeited in criminal or civil proceedings.
• 4:03
  The government will not acquire additional assets for the
• 4:05
  stockpile beyond those obtained through forfeiture proceedings,
• 4:10
  and the purpose of the stockpile is responsible stewardship of
• 4:12
  the government's digital assets under the Treasury Department.
• 4:15
  Promises made promises. OK, let's jump into the actual
• 4:19
  executive order from the White House.
• 4:22
  And as you can say see, there is a distinction here between the
• 4:25
  strategic Bitcoin reserve and the digital asset stockpile.
• 4:31
  So quote from the EO, the establishment of the Strategic
• 4:35
  Bitcoin reserve and United States digital asset stockpile
• 4:38
  by the authority vested in me by as a president by the
• 4:41
  Constitution laws of the United States of America.
• 4:43
  I hereby order and this paragraph right here guys is
• 4:47
  like you can't underestimate how huge is this paragraph is here
• 4:52
  the US government Trump they are fully acknowledging Bitcoin.
• 4:56
  This is sort of surreal seeing this come out of the White House
• 5:00
  press release Section 1 background Bitcoin is the
• 5:02
  original cryptocurrency. The Bitcoin protocol permanently
• 5:05
  caps the total supply of Bitcoin at 21 million coins and has
• 5:08
  never been hacked as a result of its scarcity and security.
• 5:12
  Bitcoin is often referred to as quote digital gold, but there is
• 5:15
  a fixed supply of Bitcoin and there's a strategic advantage to
• 5:18
  being among the First Nations to create a strategic Bitcoin
• 5:22
  reserve. the United States government currently holds a
• 5:24
  significant amount of Bitcoin but has not implemented a policy
• 5:28
  to maximize BTC strategic position as a unique store of
• 5:32
  value in the global financial system.
• 5:34
  Just as it is in our country's interest to thoughtfully manage
• 5:37
  national ownership and control of any other resource, our
• 5:40
  nation's must harness, not limit, the power of digital
• 5:43
  assets for our prosperity. Now here we go.
• 5:46
  It is a policy of United States to establish a strategic Bitcoin
• 5:49
  reserve. It is further the policy of the
• 5:51
  United States to establish a United States digital asset
• 5:53
  stockpile that can serve as a secure account for orderly and
• 5:57
  strategic management of the United States other digital
• 6:00
  asset holdings. So again, there will be a
• 6:02
  strategic Bitcoin reserve where they will essentially port over
• 6:06
  the Bitcoin that they already own, and they will also create a
• 6:10
  digital asset stockpile, which I'm guessing they will port over
• 6:13
  all the other coins that aren't Bitcoin that have confiscated
• 6:16
  and most likely sell that for Bitcoin.
• 6:18
  So here we go. The Secretary of the Treasury
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  shall establish an office to administer and maintain control
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  of custodial accounts collectively.
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  Known as Strategic Bitcoin Reserve, capitalized with all
• 6:29
  BTC held by the Department of the Treasury that was finally
• 6:32
  forfeited as part of criminal or civil asset forfeiture
• 6:34
  proceedings or in satisfaction of any civil money penalty
• 6:38
  imposed by an executive department or agency.
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  The Secretary of the Treasury shall establish an office to
• 6:44
  administer and maintain control of custodial accounts,
• 6:46
  collectively known as the United States Digital Asset Stockpile,
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  capitalized with all the digital assets owned by the Department
• 6:53
  of Treasury, other than Bitcoin, that were finally forfeited as
• 6:56
  part of criminal or civil asset forfeiture.
• 6:59
  And of course, within 30 days of the date of this order, each
• 7:01
  agency shall review its authorities to transfer any
• 7:04
  stockpile assets held by the US Digital Asset Stockpile and
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  submit some reports. So as you can see, you know,
• 7:12
  big, big, big things going on. Now let's kind of get down some
• 7:15
  of the breakdown, some key points here from some big
• 7:18
  Bitcoiners and we will talk about the significance of the
• 7:21
  executive order. And you know, I was going to do
• 7:23
  this without Nico, but he's here anyway.
• 7:24
  So we got Vijay Boyapati, if you guys don't know, he's a a great
• 7:28
  bitcoiner, great Bitcoin author. Optin, could you put in Chris?
• 7:32
  Oh, oh, my bad. My bad.
• 7:34
  OK, here we go. Here's Vijay and it goes.
• 7:37
  I encourage you to read the announcement of the strategic
• 7:40
  Bitcoin reserve key points. Bitcoin in reserve won't be sold
• 7:44
  shit coins in digital assets. Stockpile can be sold and
• 7:48
  treasury can suggest budget neutral ways of increasing
• 7:50
  Bitcoin in reserve, AKA sell shit coins and gold.
• 7:54
  Now of course, Jack Muller is here.
• 7:56
  The big take away from the strategic Bitcoin Reserve.
• 7:59
  The US, the issuer of the world's reserve currency, just
• 8:02
  validated Bitcoin as a credible neutral and of course global
• 8:05
  reserve assets. And the magnitude is hard to
• 8:07
  overstate. A global reserve asset shouldn't
• 8:10
  be worth the same as Amazon and soon it won't be.
• 8:13
  Hence why I think Nico for a while has been saying 500K
• 8:16
  Bitcoin. I know when we started saying
• 8:18
  that everyone was like you guys are smoking the opium and like,
• 8:21
  I don't know now it almost seems confirmed now here we got Nico.
• 8:25
  I was just going to reference Nico, but we have him here.
• 8:27
  So we'll have you elaborate a little bit on this Nico Nico's
• 8:30
  tweet. Trump implementing the strategic
• 8:32
  Bitcoin reserve through an executive order is not without
• 8:35
  historical precedent. The infamous six one O 2 by FDR,
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  which made it illegal for Americans to own gold was also
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  issued via an executive order in 1933 and it was not until 1934
• 8:46
  that Congress reinforced the policy through the Gold Reserve
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  Act. So Nico, break this down for all
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  the layman's out there, we just got the EO.
• 8:55
  What does this actually mean in political context?
• 8:59
  Absolutely. So, you know, happy to be here
• 9:01
  with my wife. Shout out, Sophie.
• 9:04
  Hey there. But yeah, so I think this is the
• 9:07
  first show we like actually done together, which is pretty cool,
• 9:09
  but OK. OK.
• 9:12
  OK. So look, I'm getting flustered
• 9:13
  and everything. So you guys have to just break
• 9:16
  down, like what the significance of this is and like, essentially
• 9:19
  break it down like politically. So essentially, if you do
• 9:23
  something via executive order, the problem is that the next
• 9:27
  administration, they can reverse it, right?
• 9:29
  So let's say for whatever reason, if JD Vance wins the
• 9:33
  presidential election in 2028, I doubt he's going to reverse
• 9:35
  anything that Trump does, right? It's just another mandate by the
• 9:39
  American people to keep going down the America first policies.
• 9:42
  But let's say, you know, a, a Democrat wins in 2028 and they
• 9:47
  still have the, the, the Elizabeth Warren camp is still
• 9:50
  very significant and that within the Democratic Party, they could
• 9:53
  essentially walk back Trump's executive order and all that
• 9:57
  Bitcoin that is in the strategic reserve could essentially be
• 9:59
  sold by the next administration. So if you want something to
• 10:03
  last, right, you need to do it via you need to do it via the
• 10:08
  legislative process. If you do it via the legislative
• 10:11
  process, it doesn't matter whether the next who the next
• 10:13
  president is. They can't sell the Bitcoin
• 10:15
  because it's it's in law, right? And that's where Senator Lummis
• 10:18
  Bitcoin act is so significant. But a lot of the the a lot of
• 10:23
  the pushback that I see from people is like Nico, like Trump
• 10:27
  is doing this via this executive order.
• 10:28
  He shouldn't do it that way. And I just want to remind
• 10:30
  everybody this has happened before in history.
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  In fact, the infamous six one O 2 order that, you know, holds a
• 10:37
  very special place in Bitcoiners heart, right?
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  The essentially the seizure, the theft of Americans gold, it was
• 10:46
  done via executive order. There was a bunch of lawsuits.
• 10:49
  All those got turned down like the the lawsuits lost.
• 10:52
  And then it was only until the next year that Congress was
• 10:56
  like, you know what, let's enshrine this into law.
• 10:58
  So this isn't without precedent. And I just got to say that the
• 11:02
  the Republicans got to move fast because they really have two
• 11:05
  years to really pass this law. Because from a historical
• 11:09
  context, what tends to happen is that the incumbent party loses
• 11:13
  the House. So in the midterms, which are
• 11:15
  two years from now, there's a very high probability that the
• 11:19
  Republicans lose the House and it becomes a Democrat House
• 11:22
  majority. And then I, I don't know how the
• 11:25
  Democrats, how their outlook has changed towards Bitcoin, but
• 11:28
  right now they have to seize the moment.
• 11:30
  Now, I asked Senator Lummus this question when I was in DC when I
• 11:33
  interviewed her. You guys should definitely go
• 11:35
  see that interview. But I asked her, I said very
• 11:38
  simple questions like, do you have the votes?
• 11:39
  Do you feel good about it? She, she basically just, I feel
• 11:42
  really good about it. They have to capitalize on the
• 11:45
  momentum they have now, the political momentum.
• 11:47
  The American people are on the side of Trump's policy.
• 11:52
  Trump just had a historical speech in front of Congress, had
• 11:55
  70% approval rating, right? So the vast majority of
• 11:59
  Republicans approved it. The independents, which are the
• 12:01
  ones who actually determine where elections go, were vastly
• 12:06
  on Trump's side during that speech.
• 12:08
  And actually surprisingly, a, a, a big number of Democrats were
• 12:12
  on Trump's side as well. And another thing that I'll say
• 12:15
  too, and I'm going to take a little bit of a victory lap
• 12:17
  right now, is we told you guys in November, we told you guys
• 12:22
  simply Bitcoin said, listen guys, we officially endorse
• 12:26
  Trump for president in 2024 because we were tired of the
• 12:32
  Kamala policies. We were tired of the Biden
• 12:36
  policies, which are horrible for our industry.
• 12:38
  And we said, guys, he's going to free Ross.
• 12:41
  He's going to end Operation Choke .2 Point O.
• 12:43
  This is above and beyond what we had any expectation for.
• 12:49
  This is not only a Bitcoin reserve, this is a Bitcoin only
• 12:52
  reserve. He is literally siloing the
• 12:55
  altcoins into a different reserve.
• 12:58
  And if you look at the text, the text specifically says the US
• 13:01
  government is open to acquiring more Bitcoin, but it's not open
• 13:05
  to acquiring any more altcoins. So we got literally exactly what
• 13:12
  we wanted and Trump for the art of the deal chest moved the F
• 13:17
  out of this this entire two week process.
• 13:20
  I don't think that tweet or that Truth social post where he was
• 13:24
  basically advocating for XRP or Cardano was a coincidence.
• 13:29
  He did that 100% on purpose. He was like, this will calm down
• 13:32
  the altcoin lobby and I'm going to end up doing exactly what I
• 13:36
  want at the end of the day, which is a Bitcoin only reserve.
• 13:39
  It was masterful. So you know, I hope this is like
• 13:43
  a lesson for Bitcoiners because I, I, I, we, we got this so
• 13:47
  much. You're like, guys, this is a
• 13:48
  Bitcoin channel. Why are you guys talking about
• 13:50
  politics? You guys have to understand
• 13:52
  money is inherently very political.
• 13:55
  The separation of money and state is inherently extremely
• 13:58
  political and Bitcoin has gone out of the shadows and is
• 14:02
  entering into the mainstream. So of course, inevitably we
• 14:08
  we're going to have political discussions and this is where we
• 14:10
  are today. Now our industry is about to
• 14:14
  have a summit at the White House.
• 14:17
  You have Michael Saylor there, you have Paulo, CEO of Tether
• 14:21
  there, which hardcore bitcoiners.
• 14:22
  You have the rest of the altcoin industry.
• 14:25
  But remember, don't pay attention to what they say, pay
• 14:28
  attention to what they do. There's a clear difference
• 14:30
  between the Bitcoin strategic reserve.
• 14:32
  It's going to be treated completely different and then
• 14:35
  the digital asset reserve, right?
• 14:38
  And the fact that the United States government is basically
• 14:41
  telegraphing to the entire world that, listen guys, Bitcoin is a
• 14:47
  reserve asset equivalent to gold we might be dumping right now.
• 14:53
  And I know that's what a lot of people are saying in the chat,
• 14:56
  but guys, Bitcoin is going to 500 K whether it's this year or
• 15:00
  within Trump's first term, second term, you know, in the
• 15:04
  next 4 years, this is inevitable.
• 15:06
  You guys have to understand the historical context.
• 15:08
  The most powerful influential country on the face of the
• 15:13
  planet just rubber stamp Bitcoin and said Bitcoin is not this
• 15:18
  cryptocurrency in the shadows of the Internet.
• 15:21
  It's real. It's equivalent to gold.
• 15:23
  And we have the intent. We have the intention to acquire
• 15:27
  more of it because it's actually going to benefit benefit us as a
• 15:31
  country. If you're Russia and China, what
• 15:34
  are you doing right now? Yo, we should probably buy some
• 15:37
  Bitcoin because if not, they risk the United States pulling
• 15:41
  ahead strategically. This is what Max Keiser was
• 15:44
  talking about, the global hash war.
• 15:46
  This is bitcoins incentives playing out in real time.
• 15:49
  But anyways, to weave it back into what Option was originally
• 15:54
  talking about via the executive order, this is a good first
• 15:58
  step. Cynthia Lummis commented on our
• 16:01
  post yesterday and she said next week there's going to be more
• 16:05
  surprises. So stay tuned.
• 16:07
  I, I feel very hopeful about the Bitcoin Act being passed in the
• 16:12
  Senate. In the House, the Republicans
• 16:14
  have the majority. Let's see if they could pass it
• 16:16
  through the Senate. They need at least seven
• 16:18
  Democrat senators to get past the filibuster, which requires
• 16:23
  60 votes in the Senate. Let's see what happens.
• 16:26
  The momentum is on their side. The American people are on their
• 16:29
  side. People are tired of of America
• 16:32
  being put last. It's time for America first.
• 16:35
  So they need to capitalize on this pressure, pressure,
• 16:37
  pressure, momentum, momentum, momentum.
• 16:39
  Anyways, I'm joined here with my beautiful wife SO.
• 16:42
  Wait, wait, *** Hold on, hold on.
• 16:43
  I still have a lot to cover. OK?
• 16:45
  That's why I open it up to everyone.
• 16:46
  So a perfect segue. And I don't mean to cut Chris or
• 16:48
  Sophie off, but there's still a lot more needs to cover here.
• 16:51
  I think. I think what a lot of people are
• 16:52
  wondering right now is, you know, why is the price dumping?
• 16:56
  And I think the expectation was, at least if you are not really
• 17:00
  looking into all the details, the expectation was that the US
• 17:04
  government will buy Bitcoin. And I think This is why the
• 17:07
  price is dumping right now. As Nico was saying, you know,
• 17:10
  we're all looking and wondering like, man, this is super bullish
• 17:12
  news. Why isn't the price pumping?
• 17:15
  And and it's because people are thinking, man, they're not even
• 17:18
  going to buy any more Bitcoin. And of course, I got David
• 17:20
  Bailey here and he goes read it and weep for those saying it's
• 17:23
  they're not going to buy Bitcoin.
• 17:25
  You can literally see highlighted the secretaries of
• 17:27
  Treasury and Commerce are authorized to develop budget
• 17:30
  neutral strategies for acquiring additional Bitcoin, provided
• 17:33
  that those strategies impose no incremental cost on American
• 17:35
  taxpayers. And we got more confirmation
• 17:38
  this morning where Treasury Secretary Scott Besson, I'm not
• 17:40
  going to play the clip for you guys because I want to get
• 17:42
  through this and then get open up the discussion.
• 17:44
  But the TLDR are the short of this, this morning, he was
• 17:47
  basically saying, look, we are not closed off to not buying
• 17:51
  more Bitcoin, but first what we need to do, the first step we
• 17:54
  need to do is essentially not sell the Bitcoin we have.
• 17:56
  So that's the first step as Nico was saying, baby steps is
• 17:59
  they're transferring over all the Bitcoin they hold and now
• 18:02
  it's a strategic Bitcoin reserve.
• 18:04
  They're no longer going to sell that Bitcoin.
• 18:06
  And then further, they're going to look at ways to acquire more
• 18:09
  Bitcoin, of course, in this budget neutral way.
• 18:11
  And we'll talk about that a little bit, what that means and
• 18:14
  then kind of breaking down the numbers here, shouts out to Alex
• 18:16
  Thorn, of course, he works over at Galaxy Research and he goes,
• 18:20
  we think currently the US Bitcoin balance are available
• 18:23
  for repurpose into the reserve is Max 88 K Bitcoin.
• 18:26
  So we've been throwing around that 200 K number for a while.
• 18:29
  That's kind of what the the total holdings are.
• 18:32
  But as you guys should remember, they are going to return some of
• 18:36
  that Bitcoin or most of that Bitcoin back to bit Fenix.
• 18:38
  So only 43% of the current government's holdings.
• 18:41
  That's because of the roughly 198 K Bitcoin now held by the as
• 18:45
  government 112 Bitcoin will be returned to Bitfinex market will
• 18:49
  learn the difference between seized and forfeited.
• 18:52
  OK now moving forward some deeper dives here, some some
• 18:55
  tidbits of part of this executive orders.
• 18:58
  I was saying there's a strategic Bitcoin reserve and then there's
• 19:01
  a strategic Bitcoin stockpile and shouts out to Eleanor
• 19:04
  Terrett. She's been doing really good
• 19:06
  journalism. She's I think she's more more a
• 19:08
  part of traditional media over here or corporate press.
• 19:11
  And and one of the tidbits here and David Sacks confirmed this
• 19:15
  is that the other digital asset stockpile containing all the
• 19:18
  other shit coins as announced by the president last week.
• 19:21
  The key difference between the reserve and the stockpile is
• 19:23
  that the government will not actively look for ways, as Nico
• 19:26
  was saying, to purchase more of the assets containing the
• 19:28
  stockpile. It would only explore using
• 19:30
  government funds if they can find budget neutral ways to do
• 19:33
  that on Bitcoin. And of course, going into some
• 19:36
  of these budget neutral ways, we have Eric Weiss famously 1 is
• 19:39
  Sailor's really good friends and he goes, you know, we can just
• 19:42
  sell the gold to buy Bitcoin. That's a budget neutral way we
• 19:45
  have Sailor jumping into this, I have a few budget neutral
• 19:48
  strategies for acquiring additional Bitcoin.
• 19:51
  And of course, Pierre Rashard, there are budget neutral
• 19:54
  strategies for acquiring Bitcoin other than stealing it.
• 19:56
  You can sell other assets to buy Bitcoin that is budget neutral.
• 19:59
  You can issue 0 interest bit bonds that is budget neutral,
• 20:02
  maybe even positive. Or you can cut wasteful spending
• 20:05
  and use the savings to buy Bitcoin that is of course budget
• 20:09
  neutral. Or, as David Bailey said, we
• 20:11
  have. 39 billion of surplus in exchange stability funds, 160
• 20:17
  billion from selling I I forgot this one.
• 20:19
  It's a special drawing rights funds from the IMF.
• 20:23
  We have $800 billion from gold certificate reevaluation, which
• 20:27
  would equal about one trillion of budget neutral Bitcoin buys.
• 20:32
  And even the shit coin lobbyers, you know, you know, we're not
• 20:35
  big fans of Brian Armstrong here, but even their
• 20:38
  understanding this is an incredible execution from the
• 20:40
  Trump administration and a historic moment for Bitcoin and
• 20:43
  of course, the shit coins. And this is the big part here.
• 20:46
  What we've been kind of saying to you guys constantly that you
• 20:49
  should expect many of the 20 G20 nations to take notice and
• 20:53
  eventually follow America's leadership.
• 20:55
  I've been saying on the show for a while, you know, whatever
• 20:58
  happens with the strategic Bitcoin reserve, the fact that
• 21:01
  the narrative is so strong in favor of the US being adopted as
• 21:06
  a global global neutral reserve asset.
• 21:08
  Now it's official. Now we have that seal of
• 21:11
  approval. Yes, I know a lot of Bitcoiners
• 21:13
  are more on the anarchist tip here, but now every country in
• 21:17
  the world has to take Bitcoin seriously.
• 21:19
  They have to take the strategic Bitcoin reserve technique
• 21:23
  seriously. This is going to cause the
• 21:25
  nation state FOMO we've been talking about for a while.
• 21:28
  And one last thing, because you guys have been yelling at me
• 21:30
  about memes recently as Pierre Rochard said, laser eye toxic
• 21:34
  Bitcoin maxi podcasters 1 again, amazing timeline and he's
• 21:39
  screenshotting some of the code from, you know, the Bitcoin
• 21:42
  adjacent people saying, oh, they're not even going to do a
• 21:44
  strategic Bitcoin reserve. Oh, you maxies are too toxic.
• 21:48
  Like they're going to add shit coins to the reserve.
• 21:50
  Well, Bitcoin maxies, right again, we have an administration
• 21:54
  of Bitcoin maxies. Trump delivered on a strategic
• 21:57
  Bitcoin reserve here and and we're going to see what happens
• 22:01
  today in roughly 30 minutes. So I'm going to as we go on, I'm
• 22:05
  going to try to find the link so I can stream this for you guys.
• 22:07
  We'll speculate a little bit of what's going to come out of this
• 22:09
  crypto summit. But on that note, I've done
• 22:12
  enough ranting. So I'm going to pass it over to
• 22:14
  Chris. Chris charmed in earlier that he
• 22:15
  had some tidbits add on this and then we'll get Sophie's take and
• 22:18
  then we got a jam packed show for you guys.
• 22:20
  So, Chris, take it from here and we will keep it rolling.
• 22:24
  I'm. Going to hijack this for one
• 22:26
  second guys, we're on the verge of breaking 1000 live viewers on
• 22:29
  YouTube. If you guys are enjoying the
• 22:30
  show so far, make sure to smash that like button.
• 22:33
  How many likes do we have? Opti we have?
• 22:36
  208 so. 108 all right, so let's let's up the target 300 likes
• 22:42
  within the 1st 30 minutes of the show.
• 22:44
  If you guys are enjoying simply Bitcoin live smash that like
• 22:47
  button we're joined here today with opti in the host seat.
• 22:50
  I'm Co hosting, Sophie's Co hosting and of course Chris
• 22:54
  Alamo is Co hosting as well. Smash the like button.
• 22:57
  Anyways, historic day Chris, what are your thoughts?
• 22:59
  Man, so much epic news dropped in the last 24 hours.
• 23:03
  Originally I was going to take this day off.
• 23:05
  I had some meetings, I had some things to take care of.
• 23:07
  Then this news broke and I said no, no, no, no no.
• 23:10
  I have to join the show, Chris. Well, my thoughts are, Nika, you
• 23:14
  need to take more days off because we got bullish news
• 23:16
  after bullish news. So that's the first thing.
• 23:19
  I'll start with two kind of concerning things and then we'll
• 23:21
  finish it with the bullish stuff.
• 23:23
  So as Nika was saying, you know there's two years till the
• 23:25
  midterm elections. Actually when you think about
• 23:27
  election cycles that we only have until November.
• 23:29
  What I mean by that is by November, a lot of people start
• 23:32
  a year long cycle of campaigning for either re election or
• 23:34
  fighting an incumbent or if the seats off because they're
• 23:37
  retiring or whatever, basically they come abroad.
• 23:39
  So basically we have 8 months until November that people are
• 23:41
  going to start looking about the midterms and more work is going
• 23:43
  to be doing on campaigning than actual policy work.
• 23:46
  So we really have from today, what is this March 7th until
• 23:49
  basically like November, beginning of November to start
• 23:52
  really planning. And hopefully that we can put
• 23:53
  through a legislative session where they post or put together
• 23:57
  legislation that it would be, there would be new legislation
• 24:03
  that goes through in order to basically cement the Bitcoin
• 24:06
  strategic reserve. Because as Nico was saying, you
• 24:08
  know, if the next administration comes in, if JD Vance is loses
• 24:12
  or the Republicans lose the House and ultimately they lose
• 24:16
  the presidency, that they can just reverse this because it's
• 24:18
  just an executive order and the new administration can come in
• 24:20
  and reverse it. So that's one of the the things
• 24:23
  that's a little concerning. So with time is not of the
• 24:25
  essence like we need to, we need to be quick with this.
• 24:27
  Second thing is it is a little concerning that there is
• 24:29
  incentive for the US government to, I guess, seize or illegally,
• 24:33
  criminally indict criminals. They can basically indict anyone
• 24:36
  that what's the saying that Biden even said like they can
• 24:38
  indict a ham sandwich. So we do not want the federal
• 24:41
  government or states or municipalities being able to
• 24:44
  incentivize criminalizing Bitcoiners in order to steal
• 24:47
  their Bitcoin. That is a very real possibility.
• 24:49
  I hope that's not the case. I hope there will be production
• 24:51
  protections and obviously things can be taken up in court, but
• 24:54
  this takes time and money and you just hope that Bitcoiners
• 24:56
  aren't getting their bitcoins stolen.
• 24:58
  Those are the bad things. The good thing is we have a
• 25:00
  Bitcoin strategic reserve. I will repeat that again.
• 25:03
  We finally have a Bitcoin strategic reserve, which is
• 25:06
  bullish. As Jack Mallers was drumming the
• 25:09
  horn the last couple months. You know, we've only had
• 25:12
  negative financial news. 1913 the establishment of the Federal
• 25:15
  Reserve, 1933 the 161661 O2 attack when they made gold
• 25:21
  illegal, 1971 when they basically took the Fiat
• 25:26
  currency, the US dollar off the gold standard.
• 25:28
  These are all bad financial policies that were enacted by
• 25:31
  previous presidents. We finally have good news.
• 25:34
  Bitcoin stockpile reserve. You know they always talk about
• 25:37
  the fourth turning in the 80 year cycles, in the 20 year
• 25:39
  cycles. We are on the beginning of a new
• 25:41
  great 80 year cycle and especially a great 20 year
• 25:44
  cycle. So I'm really bullish.
• 25:46
  I'm really excited for this news.
• 25:47
  I'm excited for the future of America and ultimately the globe
• 25:50
  because I think many other countries going to adopt this
• 25:52
  and I think this is going to be a great thing for citizens and
• 25:55
  everyday people. Absolutely.
• 25:56
  I mean, it's it's it's crazy guys, you know, the US
• 25:59
  government essentially staying in there and, you know, say it
• 26:02
  only took 16 years where they're saying like, look, you know, and
• 26:05
  think about how far we've come, right?
• 26:07
  Bitcoin isn't a currency, you know, it's shadow money.
• 26:10
  They're basically saying, no, this thing is real.
• 26:12
  Not only this is real, we should acquire this for the benefit of
• 26:15
  the country. And I love how David Sass sacks
• 26:18
  of the the White House cryptos are the AIS are he just snuck it
• 26:22
  in there. He's like, look, the US
• 26:24
  government has sold so much Bitcoin.
• 26:26
  It's cost the country 17 billion billion with AB $17 billion.
• 26:33
  Can you imagine selling something that has absolute
• 26:36
  scarcity for paper? They can just create out of thin
• 26:39
  air? Like what a bad trade.
• 26:42
  I love how Saylor was looking at it.
• 26:43
  I love how Cynthia Lummis was looking at Senator Lummis was
• 26:46
  looking at it. She's basically equating it to
• 26:48
  the per the Louisiana Purchase, the purchase of Alaska.
• 26:52
  At that time, you know, the, the territory of Louisiana was just
• 26:55
  wilderness, right? Alaska was just nothing.
• 26:58
  You look back in hindsight, you know, you're looking that you're
• 27:01
  like, yo, that was such an easy trade.
• 27:03
  Like why did Russia, like why did France sell us those
• 27:07
  territories? That was such a bad idea.
• 27:10
  You know, it's going to look like this, I promise.
• 27:12
  I don't think it's going to take 100 years or 200 years.
• 27:15
  I think within 1015 years, it's going to become very apparent
• 27:19
  that this historic moment in American history was, you know,
• 27:23
  we're crossing the Rubicon. Like essentially U.S. government
• 27:26
  just legitimized this alternative asset, you know, and
• 27:30
  they're about a year behind BlackRock and Larry Fink, right?
• 27:34
  So, you know, this is a new era for Bitcoin.
• 27:36
  It's extremely exciting. I know a lot of people are like
• 27:38
  but Nico the price bro, like I don't understand.
• 27:41
  Listen when Bitcoin was at 109 K, when we peaked at all time
• 27:45
  high, Bitcoin was not a strategic reserve.
• 27:47
  You have a 20% discount at the moment.
• 27:50
  Bros and gals, Sophie, what are your thoughts?
• 27:52
  So I just have to bring in the emotional side because I'm just
• 27:57
  a girl. And I have to say it's
• 28:01
  incredible to see for the first time in my lifetime have a
• 28:05
  president that has actually come through on his promises.
• 28:09
  Every single promise that President Trump has made
• 28:12
  regarding Bitcoin, he has kept, including the separation of
• 28:16
  Bitcoin and crypto. This is something that we're
• 28:21
  probably never going to see in our lifetime again.
• 28:24
  Or if we actually do pull through with legislation for
• 28:28
  Bitcoin, we will because Bitcoin fixes corruption.
• 28:31
  Bitcoin fixes these things. It undoes what the 6102 order
• 28:35
  did in 1913. So we're we're at the precipice
• 28:40
  of something absolutely world changing.
• 28:43
  And I can't wait for, I'm so proud to be an American.
• 28:46
  I'm so proud that we are the first ones to actually do this.
• 28:51
  What are your thoughts on this? I mean that that was, that
• 28:53
  wasn't emotional at all. I think you absolutely nailed
• 28:56
  it. I think she, I think she crushed
• 28:58
  it. I think, I think it is an
• 28:59
  emotional moment. I feel it too.
• 29:01
  It's very historic, definitely. And yeah, I think I think in
• 29:05
  regards to Trump, you know, one of the things that I was saying
• 29:08
  during the election season was I don't think it's a coincidence
• 29:11
  that the first pro Bitcoin president was almost
• 29:13
  assassinated twice. I don't think that's a
• 29:15
  coincidence at the simultaneously, you know, Elon
• 29:19
  Musk is calling Keynes, you know, a great evil and Trump is
• 29:23
  talking about auditing Fort Knox, like too many
• 29:26
  coincidences, right? So yes, this is like, you know,
• 29:29
  people call it the 4th turning. This is a historic moment in
• 29:32
  American history. And obviously it's a very, very
• 29:35
  exciting moment for Bitcoiners. And I think the price is gonna,
• 29:38
  I think the price is gonna skyrocket sooner rather than
• 29:41
  later. No one knows.
• 29:42
  I think there's definitely a lot of, you know, manipulation, a
• 29:45
  lot of cell pressure. But I think that can only last
• 29:48
  for so long. Like, think about it like, like
• 29:50
  trying to put a beach, a beach ball underwater, right?
• 29:53
  You can only do that for so long.
• 29:55
  And the deeper you go, the higher that beach ball
• 29:57
  eventually goes up when you let go, right Sophie?
• 30:00
  And another thing to keep in mind, there were a lot of
• 30:03
  Bitcoiners who were doubting this moment.
• 30:05
  And I hope that this proof of work that has been given to us
• 30:10
  allows for Bitcoiners to actually unite and stay
• 30:14
  together. Because I know that Bitcoin is a
• 30:16
  very individualistic self sovereign technology and it
• 30:20
  enables us to be independent. But that doesn't mean that we
• 30:24
  have to fight each other. Right now is the moment where we
• 30:28
  have to stick together and we have to pull forward because if
• 30:31
  not, they're going to tear us apart in the midterms, They're
• 30:34
  going to tear us apart in legislation.
• 30:36
  We have to stick together as Bitcoiners.
• 30:39
  Well, I think, Sophie, the only thing Bitcoiners are good at is
• 30:42
  fighting each other. So that might be the biggest
• 30:44
  pipe dream here. But there was one interesting
• 30:47
  thing Nico said. I actually want to open up a
• 30:49
  little more before because we are trying to see if we can get
• 30:52
  this White House summit live for you guys on the show.
• 30:55
  We're going to stream it if I can get the link for you guys on
• 30:57
  the show. But the one thing that you
• 30:58
  mentioned, you mentioned Elon Musk.
• 31:00
  Elon Musk was literally in right on the other side of Trump when
• 31:04
  they signed that executive order.
• 31:05
  So there's been a lot of talk about does Elon Musk, you know,
• 31:08
  what's this whole doge thing trolling.
• 31:10
  Of course, they still hold Bitcoin on the Tesla balance
• 31:13
  sheet. And he was literally right in
• 31:15
  front of Trump when he signed that.
• 31:16
  So that's kind of interesting to just, you know, interesting
• 31:19
  tidbit. Now, Nico, I am going to pose
• 31:21
  you this question because the chat is been saying this and of
• 31:24
  course, we've been dealing with this critique since we kind of
• 31:27
  came out more pro Trump is bit corners for the longest time
• 31:32
  have been, you know, fighting the US government's involvement
• 31:34
  of Bitcoin. And now we're at this point
• 31:36
  where bit corners are cheering on the government getting into
• 31:38
  Bitcoin. What is your response?
• 31:40
  And we'll kind of go around the table for a minute or two and
• 31:42
  then and then we'll jump into the rest of the show.
• 31:44
  Yeah, I mean, so I, I put a lot of thought into it.
• 31:47
  Like, think about it like this, right?
• 31:48
  So, you know, as the price of Bitcoin goes up, bitcoiners get
• 31:53
  wealthier, Bitcoiners get wealthier, they get more
• 31:55
  influential, right, guys, inevitably.
• 32:00
  Like, think about it this way. Like what is government?
• 32:03
  The government is supposed to be a representation of the people,
• 32:06
  right? Do you want a a Bitcoiner in the
• 32:09
  White House or do you want a pro CBDC present in the White House?
• 32:12
  There is no in between, right? Though that's the future of
• 32:15
  money. That's why I always say Bitcoin
• 32:16
  or slavery. Like do you want the future to
• 32:19
  be Fiat or do you want the future to be Bitcoin?
• 32:22
  There's no middle ground, right? You kind of have to choose a
• 32:25
  side. You inevitably have to choose a
• 32:26
  side. If you don't choose, if you
• 32:28
  don't choose a side, you're choosing a side, right?
• 32:31
  So you know it, It's not about Bitcoiners getting political or
• 32:34
  cheering the US government. This is an inevitability of
• 32:38
  Bitcoin growing as an asset. One of Jeff Booth's fate, one of
• 32:42
  Jeff, one of my favorite quotes by Jeff Booth is like, you know,
• 32:45
  one of the things about Bitcoin is that you have to be OK with
• 32:47
  even your worst enemy using it, right?
• 32:50
  So, you know, of course governments are going to try to
• 32:53
  benefit from Bitcoin, like corporations are going to try to
• 32:55
  benefit from Bitcoin, like individuals are going to try to
• 32:57
  benefit from Bitcoin. But one of the awesome parts is
• 33:01
  Bitcoin spread from the bottom up.
• 33:04
  So the vast majority of Bitcoin is still held by individuals.
• 33:08
  The last time I checked, I believe it's like 11,000,000 out
• 33:10
  of the 21 million is still held by individual wallets.
• 33:14
  So if you're selling Bitcoin right now, you're probably
• 33:18
  selling it to BlackRock, and soon you're going to be selling
• 33:21
  it to a government. Right.
• 33:22
  So like, don't sell your Bitcoin, right?
• 33:24
  Keep your Bitcoin. You know, power to the people.
• 33:27
  That's what Satoshi did when he created this amazing technology.
• 33:30
  So I think instead of people being like hating on politics
• 33:33
  and saying like, look, like, you know, I don't want to do this,
• 33:36
  like this sucks. Like whatever, Like it, it was
• 33:38
  inevitable. This was always going to happen.
• 33:40
  Now the question is what side are you going to stand on right?
• 33:44
  Are you gonna stand on the side of CBDC?
• 33:46
  Are you gonna side? Are you gonna stand on the side
• 33:48
  of Bitcoin right? Appreciate the Super chat from
• 33:50
  Zhong. Thank you man appreciate it.
• 33:52
  Also, more than 1000 live viewers, 1080 live viewers on
• 33:57
  YouTube. If you guys are enjoying the
• 33:58
  show so far, make sure to smash that like button.
• 34:01
  How many likes are we at Opti? We are currently at 380-2384, so
• 34:06
  we're going to 505 hundred likes by the end of the show. 500
• 34:09
  likes by the end of the show. Anyways, Opti, let's jump into
• 34:13
  the numbers. We went on a little bit of a of
• 34:15
  a tangent right now, but it's very exciting with the breaking
• 34:18
  news. Yeah, it's a it's a special
• 34:20
  show. Anyway, of course, boys and
• 34:23
  girls, if you want to support the show, just support our
• 34:25
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• 34:28
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  sitting on the sideline and this strategic Bitcoin reserve bill
• 35:01
  is finally hitting you in the head and you realize the
• 35:03
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• 35:24
  If you still have Fiat on the sideline, make sure you get in
• 35:26
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• 35:29
  All right guys, we have a jam packed show for you guys.
• 35:31
  So as I told you earlier, we have Scott Bessent.
• 35:35
  Of course, he went on Squawk Box this morning and we got an
• 35:40
  interesting tidbit, not in regards to the strategic Bitcoin
• 35:43
  Reserve, but about the economy at large.
• 35:45
  And of course, as you guys saw yesterday, we are going to
• 35:48
  update you guys on the strategic Bitcoin Reserve bill coming out
• 35:51
  of Texas and the race between the States and the federal level
• 35:56
  to acquire Bitcoin. So we have a jam packed show and
• 35:58
  of course I'm going to try to get it behind the scenes for the
• 36:00
  culture. Hopefully we can get the live
• 36:02
  stream of the White House Crypto Summit for you guys.
• 36:04
  So today's show might be longer than usual.
• 36:07
  If not, we'll just speculate on what we'll get coming out of
• 36:09
  that. Also also wanna give a shout out
• 36:11
  to the Super chat so we can do so.
• 36:13
  Let's go, let's go. We got another super super chat
• 36:15
  from Rock Rock VTM. Appreciate the $20 bro.
• 36:20
  He says Bitcoin is gonna be banned, died and buried today.
• 36:23
  Absolutely. 100% we. Always talk about aligned
• 36:27
  incentives. That is 100% happening and
• 36:30
  Bitcoin stays winning because it has better incentives.
• 36:33
  Anyways, Opti, let's hit the numbers.
• 36:35
  We have tons to talk about today.
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  OP, the all you all. Right.
• 38:56
  Wait, hold up. The best part of that bit today
• 38:59
  was Sophie cringing at your dad jokes live on the stream?
• 39:03
  Yeah, you've rewind that, guys. I don't.
• 39:04
  Know if you guys saw Sophie cringe?
• 39:06
  She. She loves me though.
• 39:08
  She loves you. I don't know what you're talking
• 39:09
  about, I. Wasn't cringing at that.
• 39:12
  I was like damn that would suck if you lost your generational
• 39:15
  wealth like I would. I would cringe at that.
• 39:18
  Oh man. OK guys, of course if you're new
• 39:20
  here we go over the Bitcoin numbers on Clark Moody's
• 39:24
  dashboard. So of course Bitcoin price
• 39:25
  today, currently $88,110 per Bitcoin.
• 39:30
  The stats per dollar AKA how much the dollar is worth in
• 39:32
  Bitcoin, AKA how much Bitcoin you can buy for a single dollar.
• 39:35
  It's currently at 1135 SAT's per dollar.
• 39:38
  The block height is 886,756. TikTok next block.
• 39:44
  Bitcoin is running exactly as designed.
• 39:46
  Market cap and Fiat terms is $1.75 trillion.
• 39:49
  The Bitcoin versus gold market cap is 8.54%.
• 39:52
  Still a lot of room to run in the hard money game.
• 39:55
  And of course the total percentage of Bitcoin that will
• 39:57
  ever be issued. I repeat, the total percentage
• 39:59
  of Bitcoin that will ever be issued is currently at 94.44%,
• 40:03
  roughly 19.83 million Bitcoin in circulation.
• 40:06
  And the realized monetary inflation taking Fiat currencies
• 40:09
  of school is currently at .95%. When Nico and I started covering
• 40:13
  that number, it was at like 3 something.
• 40:16
  And here we are. The strongest money in the world
• 40:18
  is Bitcoin. Anyways, as I was telling you
• 40:21
  guys, we got a good clip this. This morning, Scott Besson this
• 40:26
  morning went on Squawk Box. Of course, he was asked about
• 40:29
  the strategic Bitcoin reserve, the technicalities of how it's
• 40:32
  going to be used, how they're going to, you know, acquire more
• 40:34
  Bitcoin, what is the purpose of it?
• 40:36
  And he basically said we're going to stop selling Bitcoin.
• 40:38
  That's the first step. But there was an interesting
• 40:41
  tidbit that came out of this exact interview and it's him
• 40:44
  explaining what is going on in the global economy, what is
• 40:48
  going on to the psychology of people.
• 40:50
  And and it is all being pushed, as we like to call it, by the
• 40:54
  fact that they're printing obscene amount of money.
• 40:56
  And as he put it, people are addicted to it.
• 40:59
  So I want to play this because it really ties into everything
• 41:02
  we talked about on simply Bitcoin.
• 41:04
  Obviously it ties in the importance of a strategic
• 41:06
  Bitcoin reserve, but we're taking a little a slightly
• 41:09
  different take from it. So let's hear this.
• 41:11
  Top 10% of Americans are 40 or 50% of consumption, and that is
• 41:16
  an unstable equilibrium, the bottom 50% of working Americans.
• 41:21
  Have gotten killed. We are trying to address that.
• 41:24
  We're trying to get rates down. And, you know, could we be
• 41:28
  seeing that the, this economy that we inherited starting to
• 41:34
  roll a bit? Sure.
• 41:36
  And look, there's going to be a natural adjustment as we move
• 41:41
  away from public spending to private spending.
• 41:44
  The the market and the economy have just become hooked and
• 41:48
  we've become addicted to this government spending.
• 41:51
  There's going to be a detox period.
• 41:53
  Top 10. Percent.
• 41:54
  OK, I don't know if you guys heard that, but what I heard is
• 42:00
  a lot of people might be in pain coming up because we all know
• 42:03
  the fundamental problem. The government has printed so
• 42:06
  much money that our economies all around the world, this isn't
• 42:09
  just a problem in the US. They literally need to continue
• 42:13
  to print money. This is what bitcoiners have
• 42:15
  been saying forever. The government has to create
• 42:17
  more debt to continue to perpetuate the system as we know
• 42:21
  it. And now we have Scott Besson,
• 42:23
  which is what's his title is, a secretary of Treasury, right?
• 42:26
  And now he's out here and he's like, look, we know what the
• 42:29
  problem is. We have to get off government
• 42:32
  debt. There will be a detox period,
• 42:34
  which if I'm hearing this correctly, guys, it sounds like
• 42:37
  the economy might, you know, get a little bumpy here going on.
• 42:41
  And of course, what we always say is you cannot save your
• 42:45
  wealth in dollars. And as we've been covering on
• 42:47
  the show for a long time, assets, traditional risk off
• 42:51
  assets are also potentially might be in hot water.
• 42:55
  As a lot of analysts were saying on Twitter is like the base of
• 42:58
  the Trump voter bloc. They're not really in assets.
• 43:02
  So does this mean, you know, we might see the stock market get
• 43:06
  tanked? Is real estate about to get
• 43:08
  repriced? As a bitcoiner, I'm like, yeah,
• 43:11
  all that liquidity is going to come in Bitcoin.
• 43:13
  This is why we tell you guys to protect yourself in Bitcoin.
• 43:16
  You don't need a top down administration to tell you how
• 43:20
  to protect your yourself. This is a bottom up movement you
• 43:23
  need to start to save in Bitcoin and all the signals in the
• 43:27
  writing on the wall are saying the exact things we say on the
• 43:30
  show constantly. They need to keep printing money
• 43:34
  to keep the economy going, to keep the life that you are so
• 43:37
  used to going. We are all addicted to
• 43:39
  government debt and this is the basis of our economy right now.
• 43:43
  And if you don't know that very simple fact.
• 43:45
  For yourself, up to you. What?
• 43:46
  What I what I said. We're all addicted to government
• 43:49
  debt. We are I'm a I'm a bitcoiner.
• 43:53
  I don't have any government debt personally, but hey, the people
• 43:57
  in power are totally addicted to government debt.
• 43:59
  And this is the problem we've been we've been exposing
• 44:02
  covering, you know, trying to find new angles to explain it to
• 44:06
  people, but it's becoming very clear, guys, you need to own
• 44:09
  Bitcoin. If you aren't owning Bitcoin
• 44:11
  today, what are you doing? You have to start saving in
• 44:15
  Bitcoin. There's no choice but to print.
• 44:17
  This is what we've been covering on the show.
• 44:19
  The big print is when. Do you think, when do you think
• 44:22
  that they'll figure out that they can just print money and
• 44:25
  buy Bitcoin with that printed money?
• 44:28
  I mean, soon did. You mute her.
• 44:31
  I did it by accident. I did it by accident, right?
• 44:33
  Next to each other so we can't talk at the same time.
• 44:37
  Yeah, I mean, I think soon. I think it's inevitable.
• 44:40
  I think one of the thing, remember Sailor's going to be at
• 44:42
  the White House summit today. And you know, one of the things
• 44:46
  he's he's said on podcast before is like, look, the first country
• 44:50
  that uses their money printer to buy Bitcoin is going to win.
• 44:54
  And I think it's an inevitability.
• 44:55
  Now, again, I have to be, I have to be precise here.
• 45:00
  Trump cannot do that via executive order.
• 45:02
  He could only do that via the legislative process.
• 45:06
  But, but as long as things are quote, UN quote budget neutral,
• 45:12
  let's see how much he can get away with.
• 45:14
  But technically you can reallocate, you know, funds from
• 45:19
  over there and put it in Bitcoin and technically it's still
• 45:23
  budget neutral. So they're they're being very
• 45:25
  careful with the language. Michael Saylor has already been
• 45:28
  reaching out basically saying, hey guys, listen, we could
• 45:31
  definitely do some some budget neutral things in order to
• 45:34
  increase the the government stack.
• 45:37
  Chris pulled something up. Opti, can you pull up that that
• 45:40
  post please? Maybe all that USAID money they
• 45:45
  found can just go straight to the Bitcoin stockpile.
• 45:49
  Bro, you and you and Opti are dangerous.
• 45:52
  I didn't say that. I hope you said that.
• 45:57
  Oh man. Yes, the meme, If you don't know
• 45:59
  the meme, here is the meme. Trust, always trust the guy with
• 46:02
  crazy eyes, for sure. And the meme is, of course,
• 46:05
  there's an infinite amount of cash at the Federal Reserve.
• 46:08
  They can print it to Infinity. What's the meme?
• 46:10
  That's why Bitcoin has no top, because Fiat has no bottom.
• 46:14
  This is what we keep talking about.
• 46:16
  It's very simple. It's very simple.
• 46:17
  But I don't know, Sophie, did we cut you off?
• 46:19
  And Nikos being a rude misogynist on today's show.
• 46:22
  Hey, hey, hey, relax. No, no, I I'm just pointing out
• 46:26
  that we should use that USAID money to buy more Bitcoin.
• 46:34
  I didn't. I didn't say that.
• 46:36
  I didn't say that Simply Bitcoin does not approve of that
• 46:39
  message. OK, OK.
• 46:40
  That's an opinion of our guest. Yeah.
• 46:42
  Chris, what is your thoughts on Scott Besant this morning
• 46:47
  talking about the addiction to government debt?
• 46:50
  I yeah, I think the vast majority of people are addicted
• 46:52
  to it, but just stay humble and stack sats and we're going to
• 46:56
  see it go to the moon. Bars, bars.
• 47:00
  That sound advice always. I do want to give a shout out to
• 47:03
  the live stream 1128 live viewers on YouTube, shout out to
• 47:09
  the X audience I can't see you from my side, and shout out to
• 47:12
  the rumble audio. Oh yeah, so X audience shouts
• 47:15
  out to you guys over 3100 live viewers right now we have over
• 47:20
  1100 on YouTube and the Rumble shouts out to the 109 people on
• 47:26
  Rumble. We love you guys.
• 47:27
  Smash the like button. Of course, we got the rest of
• 47:31
  the show Opti. Before before we do that, we got
• 47:34
  a special announcement regarding the Simply Bitcoin Store.
• 47:36
  Let me, let me pull that up. Let me pull that up.
• 47:38
  Actually, you you do that with Sophie next to you while I'll
• 47:41
  pull this up once. Yeah, absolutely.
• 47:42
  So Sophie model it. Can you do that for a second?
• 47:46
  Sophie's going to show off the new merch.
• 47:49
  There we go. That's the new it's, it's, it's
• 47:52
  out of focus. There you go.
• 47:54
  There's the there's the new Simply Bitcoin merch.
• 47:57
  You can get it at the Simply Bitcoin store and you guys could
• 48:03
  use yeah, just get it while supplies last.
• 48:05
  This is flying off the shelves. It's incredibly comfortable.
• 48:10
  You know, if we pay attention, it is very comfortable.
• 48:12
  We pay attention to detail. I think it says Bitcoin or
• 48:14
  slavery in the back. And it's it's tag list.
• 48:17
  There's no tag. And also breaking news, Winekiss
• 48:22
  has finally figured out we are accepting Bitcoin on the Simply
• 48:27
  Bitcoin store. So now you can pay in Bitcoin if
• 48:31
  you want Simply Bitcoin merch, right?
• 48:34
  So get it while, get it while supplies last.
• 48:38
  Anyways, Opti, let's hit the news.
• 48:39
  We have tons to talk about. I want to give a shout out to
• 48:43
  our partner. I think I played the wrong.
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• 51:20
  All righty then guys. So as you guys probably saw
• 51:23
  yesterday if you were hanging out with us, we actually covered
• 51:26
  this breaking as it came out. But today we're going to give
• 51:29
  you guys a little more information on what's going on
• 51:32
  with the strategic Bitcoin reserves on the state level.
• 51:35
  So of course we have Pierre Rochard, very famous Texan out
• 51:38
  here celebrating the win Texas Strategic Bitcoin Reserve bill
• 51:42
  passed by the Senate. And and we have here office of
• 51:46
  the Lieutenant Governor Dan Patrick.
• 51:47
  He did a statement on the bipartisan passage of Senate
• 51:51
  Bill 21 establishing the Texas Bitcoin Reserve.
• 51:54
  So zooming in here, we got Lieutenant government or
• 51:57
  Governor Dan Patrick issued this statement today following the
• 52:00
  bipartisan passage of Senate Bill 21 establishing the Texas
• 52:03
  Bitcoin Reserve bill by Senator Charles Schwertner, a Republican
• 52:08
  of Georgetown. A representative of Georgetown,
• 52:09
  He goes. President Trump has stated
• 52:11
  unequivocally that he intends to make the United States the
• 52:14
  cryptocurrency capital of the world.
• 52:15
  His visionary leadership on Bitcoin and digital assets has
• 52:18
  paved the way for rapid American innovation, and Texas is leading
• 52:22
  the way. I promise to make a Texas
• 52:25
  Bitcoin Reserve a priority to solidify Texas leadership in the
• 52:28
  digital aid. Today, the Texas Senate
• 52:31
  delivered on that promise by passing SB21 with both
• 52:34
  Republican and Democrat votes to create the Texas Bitcoin
• 52:38
  Reserve. Some have called Bitcoin digital
• 52:40
  gold. Again, the digital gold means
• 52:41
  catching on, you know, kind of a kind of a dislike it, but hey,
• 52:46
  it's catching on. And I believe it's limited
• 52:48
  supply and decentralized nature make it a critical asset for
• 52:51
  Texas's future. Creating the Texas Bitcoin
• 52:53
  Reserve is a bold step for other states to follow.
• 52:56
  I stand with President Trump and hope to make Texas the epicenter
• 52:59
  of America's digital future. I fully back that even though
• 53:03
  Nika does it. Senate Bill 21 establishes the
• 53:06
  Texas Bitcoin Reserve, administered by the Texas
• 53:09
  Comptroller. The fund will contain Bitcoin
• 53:11
  and other cryptocurrencies with a market cap of at least $500
• 53:15
  billion. You heard that right, $500
• 53:18
  billion for the Bitcoin Strategic Reserve in Texas.
• 53:21
  SB 21 also authorizes appropriations into the newly
• 53:24
  created fund and can be funded through the budget.
• 53:28
  SB 21 also creates a Strategic Bitcoin Reserve Advisory
• 53:31
  Committee to provide guidance and recommendations for
• 53:34
  administrating the reserve. Additionally, a biannual report
• 53:37
  will be required to detail the reserves holding.
• 53:41
  Again, doubling down here we have Charles Schwertner who
• 53:44
  passed it, and he goes, The Texas Senate took a historic
• 53:46
  step towards securing our state financial future by passing SB
• 53:50
  21 to establish the Texas Strategic Bitcoin Reserve.
• 53:53
  And I'm honored that Lieutenant Governor Patrick designated my
• 53:56
  bill as a Senate priority. And I'm deeply grateful for this
• 53:59
  support as well as the support of my fellow senators.
• 54:02
  So going further, Nico, again, our reigning politician guy
• 54:07
  here, what is the significance of it passing Senate and how
• 54:11
  much further do we have to go? And then I will pull up Bitcoin
• 54:13
  laws and we can kind of, you know, get an update on what's
• 54:16
  going on in all the other states.
• 54:18
  Yeah, I mean, it's absolutely massive.
• 54:21
  And I love Senator Cynthia Lummus's take on this, right,
• 54:24
  Which is like, yes, Dennis, we approve what you've been doing.
• 54:29
  You've done an incredible job. Personally big fan of what
• 54:31
  Satoshi Action Fund has been doing.
• 54:34
  But you know, orange man beat him to the punch, like as simple
• 54:40
  as that, right? The the, the federal government
• 54:42
  seems like Trump, you know, beat the states again, I don't think
• 54:46
  any of this is a coincidence. Very famous quote by very
• 54:53
  favorite content creator of mine, which is there is no
• 54:55
  conspiracies, but there's also no coincidences.
• 54:58
  And you know, Cynthia Lummis, Senator Lummis believes it as
• 55:01
  well. It's just you're running a great
• 55:03
  race, Dennis, one that will benefit Americans and be
• 55:06
  important to buoy the 10th Amendment years down the line.
• 55:10
  But no one beats President Trump to AW for America.
• 55:13
  So again, I don't think this is a coincidence that Trump signed
• 55:18
  it the way the way the when he signed it, he wanted to be a
• 55:21
  head of the states. And just so you guys know where
• 55:25
  the state of Texas is right now, it passed the Senate in Texas.
• 55:29
  And now I think it needs to be signed by the governor and then
• 55:32
  it goes into law. And then not only is the federal
• 55:34
  government going to have a strategic Bitcoin reserve, now a
• 55:37
  state is going to have a strategic Bitcoin reserve.
• 55:39
  And now all the other states are going to look at taxes and say,
• 55:42
  Oh my God, we need a strategic Bitcoin reserve too.
• 55:44
  That's kind of like the game theory of Bitcoin playing out,
• 55:46
  right? So this is a crazy, crazy week
• 55:51
  in Bitcoin's history. And I know what everyone's
• 55:53
  thinking. Why has number not gone up?
• 55:56
  Take advantage of it. Because number will inevitably
• 55:59
  go up, you know, in the coming months and coming years.
• 56:03
  And I'm sticking by what I've been saying all year and people
• 56:06
  have been giving me so much, you know, crap for it.
• 56:10
  I would not be surprised with all this news happening if we
• 56:15
  saw half $1,000,000 Bitcoin by the end of the year.
• 56:19
  You guys have to understand, the most powerful country on the
• 56:22
  face of the planet on the federal level and on the state
• 56:25
  level is essentially signalling to the entire world that Bitcoin
• 56:30
  is a legit alternative asset and they're willing to acquire it.
• 56:35
  They, they want some, right? So, I mean, what do you think's
• 56:38
  going to happen? There's only 21 million.
• 56:40
  There's absolute scarcity. Unlike gold, when the price of
• 56:44
  Bitcoin goes up, the production of Bitcoin, not only does it
• 56:47
  stay the same, actually gets cut in half every four years with
• 56:50
  the halving. I mean, it, it's not rocket
• 56:53
  science. This is why Sailor says it's
• 56:55
  going up forever, Laura, right. So, yeah, I mean, really, really
• 56:58
  exciting stuff. And again, you guys have to
• 57:00
  check out the interview that I did with not only Senator
• 57:03
  Lummis, but also Dennis Porter in Washington, DC, in the
• 57:08
  capital. It was really, really exciting.
• 57:10
  Really, I love that interview. You guys have to check it out.
• 57:12
  Simply Bitcoin IRL. I don't know, Sophie, what do
• 57:15
  you think? I mean, you didn't come with me
• 57:17
  in the DC, but you saw me that entire weekend.
• 57:19
  It was actually, it was pretty crazy.
• 57:21
  Lot of traveling. Appreciate the support.
• 57:23
  What are your thoughts? I mean, it's just exciting like
• 57:27
  honestly, at this point, everything that's happening with
• 57:30
  the adoption of Bitcoin both on a federal level and on a state
• 57:34
  level makes me care less about the price and actually just
• 57:37
  makes me care more about acquiring more Bitcoin.
• 57:40
  The more Bitcoin that we acquire.
• 57:42
  This is the bottom line. The more Bitcoin that you
• 57:44
  acquire, the more set up you will be for your future and for
• 57:49
  the future of your families. So watching you go and interview
• 57:52
  a senator and, you know, do it with the support of simply that
• 57:58
  is a company you started literally from your mom's garage
• 58:02
  and now we're at these levels. It just it reflects the
• 58:06
  trajectory of Bitcoin itself. Bitcoin used to be this thing
• 58:10
  that people used on the dark web to, you know, do sketchy things.
• 58:15
  And now it's reached the levels of the president of the United
• 58:18
  States desks signing an executive order to take this
• 58:24
  asset and get and become the biggest holder of it.
• 58:28
  I mean, what this, if you would have told me this five years
• 58:31
  ago, I straight up wouldn't have believed you.
• 58:34
  People used to equivalent Bitcoin with shit coins and call
• 58:39
  it like a casino, a gamble. And now we're looking at this as
• 58:42
  one of the hardest assets on the face of the planet Earth.
• 58:45
  And it's not just us saying it on an individual level, it's the
• 58:49
  government saying it too. So now we have the future to
• 58:53
  look look for. The states are going to adopt it
• 58:55
  next. We're going to get it passed in
• 58:57
  federal legislation. Other countries are going to
• 59:00
  adopt it. And eventually we're all going
• 59:03
  to benefit from the scarce asset, which is going to
• 59:06
  eradicate corruption, eradicate forms of government that will,
• 59:11
  you know, just destroy humanity. And we're and this is just the
• 59:16
  beginning of it. Absolutely 100%.
• 59:19
  I saw, I saw in the chat someone asked like how do you get a
• 59:23
  Bitcoin wife? You make one the same Bitcoin,
• 59:26
  so like. You Nara Smith it, you make it
• 59:29
  from scratch. So like what does that?
• 59:31
  So like, what does that mean? That means that like for the
• 59:33
  first four years that like more than likely.
• 59:36
  Nah, come on, two years. OK, So like for the first two
• 59:39
  years, you're gonna be like Bitcoin, Bitcoin, Bitcoin.
• 59:41
  They're gonna be like, yeah, I don't really care, it doesn't
• 59:44
  matter. But The thing is, number go up
• 59:47
  is really, really nice, right? And then, you know, all of a
• 59:50
  sudden before you know it, you know, your partner, you know,
• 59:54
  starts to become a bitcoiner with you because they see number
• 59:56
  go up, right? Number go up is like, like, it's
• 59:59
  undeniable. Like the only person who's
• 1:00:01
  denied on number go up is Peter Schiff.
• 1:00:03
  I just, I love it when you're right.
• 1:00:08
  OK. All right.
• 1:00:09
  Before we move on and I get Chris's take, let's just do an
• 1:00:12
  update here guys. We are on Bitcoin laws dot IO,
• 1:00:15
  of course keeping track of all the different state strategic
• 1:00:19
  Bitcoin reserves and bills. So total measures, there's 73
• 1:00:23
  total measures in 33 states. We have 32 SBRS introduced in 24
• 1:00:28
  States and 26 alive SBRS in 19 states, which is pretty
• 1:00:33
  interesting. Now you know the reserve race.
• 1:00:36
  I don't know if this is updated Nico cause wouldn't Texas be
• 1:00:42
  farther along than Utah I. Saw I saw, I saw it on Twitter.
• 1:00:46
  There is an updated version. I don't know, let me see if.
• 1:00:49
  I can find that real quick. I, I saw a screenshot of the
• 1:00:51
  updated version on of of Texas. But yeah, I mean, it did, it did
• 1:00:56
  pass the Senate. I know Dennis has been covering
• 1:00:59
  this a lot, but I did see an updated version of this
• 1:01:02
  specifically on X Yeah. So.
• 1:01:07
  All right. Well, I can't seem to find it,
• 1:01:10
  but if Nico, if you find that before we wrap up this bit, it
• 1:01:15
  does look like, you know, Texas is leading so far with this new
• 1:01:18
  news. I don't think the site is
• 1:01:19
  updated yet. And then of course, Utah,
• 1:01:21
  Arizona says Texas, North Carolina, those are it's
• 1:01:26
  basically head to head race right now between Utah and
• 1:01:30
  Texas. And like we were saying, hey,
• 1:01:33
  Cynthia Lamas is right again. You know, Dennis Porter, you had
• 1:01:35
  a good run, not going to lie, but not going to beat Trump to
• 1:01:40
  AW when it comes to anything related.
• 1:01:42
  Bitcoin, Trump announces it yesterday.
• 1:01:45
  So huge win here. It happened first on the federal
• 1:01:48
  level, which I think is very surprising.
• 1:01:49
  We kind of for a while we're thinking, oh, it's probably
• 1:01:52
  going to happen first on the state, state level, but it looks
• 1:01:55
  like, you know, Trump just kind of kind of threw it down on the
• 1:01:59
  table here. So anyways, Chris, what's your
• 1:02:02
  thoughts on the Texas Strategic Bitcoin Reserve and then maybe
• 1:02:06
  maybe you know, Trump kind of winning the the race between
• 1:02:09
  Dennis Porter and Texas? No, I think Nikko's point, Trump
• 1:02:15
  was wanted to be the first. He doesn't like to be second in
• 1:02:17
  anything and he's not going to let the states beat him.
• 1:02:20
  If this is any other administration, I really believe
• 1:02:22
  that the states would win and it would be kind of like Nikko is
• 1:02:24
  saying it's more a bottom up, but I think Trump kind of
• 1:02:27
  skipped a step. He kind of beat out cities.
• 1:02:29
  He beat out states, he beat out, you know, other municipalities.
• 1:02:33
  He's like, Nope, this is the right way.
• 1:02:34
  This is what we're doing. We're going forward.
• 1:02:36
  I will want caveat. One thing that Nico was saying
• 1:02:38
  though, Peter Schiff is crying about the Bitcoin strategic
• 1:02:41
  reserve. I don't know Schiff's a
• 1:02:42
  bitcoiner. I'm claiming this.
• 1:02:43
  He's always been a Bitcoiner. He's just a closeted Bitcoin
• 1:02:45
  hater. But even he I sent a tweet out
• 1:02:48
  that he said I'm. Trying to pull it up right now,
• 1:02:51
  let's see. Let's see, Peter Schiff was
• 1:02:54
  saying, and I can evaluate it or I can say it, basically, Peter
• 1:02:59
  Schiff was saying, I don't know, I don't agree with it, but I get
• 1:03:02
  it. We have a gold reserve.
• 1:03:03
  Bitcoin is digital gold, which is better than an analog gold.
• 1:03:06
  So he even admits it. So let's create a Bitcoin
• 1:03:08
  reserve too. What's the rationale for a shit
• 1:03:10
  coin reserve? What the hell we need that for?
• 1:03:12
  So I mean, like I said, we're winning so hard.
• 1:03:15
  Even our biggest critics are coming to our side.
• 1:03:17
  That's how you know you're winning.
• 1:03:19
  Absolutely 100% by the way, to everyone in the in the live
• 1:03:24
  stream 1100 live viewers on YouTube, we're almost at 600
• 1:03:29
  likes. Help us break 700 likes before
• 1:03:32
  the end of the show. Smash that like button if you
• 1:03:34
  guys are enjoying today, simply Bitcoin live historic news on
• 1:03:38
  today. The strategic Bitcoin Reserve is
• 1:03:41
  official by executive order signed into law last night by
• 1:03:45
  President Donald J Trump. We are awaiting the press
• 1:03:49
  conference, which is supposedly going to start at 3:00 PM
• 1:03:53
  Eastern. So I don't know if we're going
• 1:03:54
  to be able to cover it on today's show.
• 1:03:57
  Opti, you have any opinions before we move forward?
• 1:04:00
  No, it just got it just got pushed back on us.
• 1:04:03
  We'll we'll speculate a little bit on what we're going to hear.
• 1:04:05
  What's the significance of this crypto summit?
• 1:04:08
  I'll pull up the list of big names there.
• 1:04:10
  So let's just get into it and we'll we'll kind of chat about
• 1:04:12
  it. I actually do have some
• 1:04:13
  headlines here from, you know, the corporate press, their takes
• 1:04:16
  on it. So it's going to be a good kind
• 1:04:19
  of, you know, gauging of the societal view of what's going on
• 1:04:24
  on this crypto summit. So let's get into it.
• 1:04:27
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• 1:06:12
  All right guys, so today we had planned to live stream you guys
• 1:06:17
  the crypto summit because the times we heard this morning was
• 1:06:21
  that it was going to go live at 1:30.
• 1:06:22
  So we would have, we would have hit the show perfectly if they
• 1:06:26
  didn't push it back. But anyways, apparently it's not
• 1:06:29
  going to go live until 3:00 PM Eastern Time, so a couple hours
• 1:06:32
  from now, but here we go. PBS News Watch live Trump
• 1:06:35
  delivers White House digital asset summit remarks at
• 1:06:39
  cryptocurrency struggle President President Donald Trump
• 1:06:43
  starting executive order Thursday establishing a
• 1:06:45
  government reserve of Bitcoin, a key marker in the cryptocurrency
• 1:06:49
  journey toward possible mainstream acceptance.
• 1:06:51
  And of course, they pushed it back this morning.
• 1:06:54
  They were saying 1:30. I think he just did a press
• 1:06:56
  release. So they they pushed it back to
• 1:06:58
  3:00 PM Eastern Time. But we'll cover all the stuff
• 1:07:01
  coming out of it on Monday. And of course, you know, they're
• 1:07:04
  talking about the strategic reserve.
• 1:07:07
  I think the most interesting thing here is everyone wondering
• 1:07:10
  what is going to come out of this meeting?
• 1:07:13
  What is the big news coming out of this?
• 1:07:15
  But I did get this headline this morning, which I find very
• 1:07:18
  interesting coming from CNN. Crypto executives descend on
• 1:07:22
  these see for a victory lap and to give Trump a round of
• 1:07:26
  applause. So CNN seemingly not that
• 1:07:30
  favorable and what's going on in the Bitcoin world.
• 1:07:33
  They're it seems they're kind of dunking on what's going to
• 1:07:35
  happen here at the the what do they call White House crypto
• 1:07:39
  summit. So pretty interesting.
• 1:07:41
  We did get this story again, this is some speculation.
• 1:07:45
  So I, I don't want to, you know, make this seem like it's cement
• 1:07:49
  and this is what's happening. But this is what we're seeing
• 1:07:53
  kind of the rumor mill going on and what we might expect coming
• 1:07:56
  out of this. It might just be kind of, you
• 1:07:58
  know, a round of applause, smack yourself on the back for the
• 1:08:01
  strategic Bitcoin reserve bill being passed.
• 1:08:03
  But we're getting from Kobe Aussie letter and other people
• 1:08:06
  saying that maybe there's going to be some talks about capital
• 1:08:09
  gains tax exemptions expected to be announced or talked about
• 1:08:13
  during the White House crypto summit.
• 1:08:14
  I think that should be something we might see at maybe it's not
• 1:08:18
  no capital gains, but at least maybe we'll start to get the
• 1:08:21
  conversation going on how Bitcoin will be treated in
• 1:08:24
  regards to gains and I. Move the Overton window bro.
• 1:08:27
  Yeah, exactly. And I I literally said that this
• 1:08:29
  morning, you know, just treat Bitcoin price like Fiat exchange
• 1:08:32
  rate next and best president ever.
• 1:08:34
  So I was planning on playing this for you guys right now, but
• 1:08:38
  they just moved it back. So I guess we'll just kind of
• 1:08:41
  talk about what we should expect and then I'm going to pull up
• 1:08:44
  the names of people that we are expected to see there, Nico.
• 1:08:48
  So Nico, take it and then I'll pull up the names and we can
• 1:08:50
  chat about it a little bit and we'll wrap up today's show
• 1:08:52
  early. So you guys could eat some lunch
• 1:08:53
  before the White House Crypto Summit.
• 1:08:55
  Absolutely. I do want to give a shout out to
• 1:08:57
  the live stream today absolutely incredible still 1000 live
• 1:09:00
  viewers on YouTube alone. If you guys are enjoying today's
• 1:09:03
  show, make sure to smash that like button.
• 1:09:05
  Of course shout out to the X audience and rumble audience as
• 1:09:08
  well. Appreciate your guys support.
• 1:09:10
  If you guys want to support simply Bitcoin live, of course,
• 1:09:12
  check out our merch or check out our partners.
• 1:09:15
  We're very, very picky on who we choose to partner with anyway
• 1:09:20
  anyhow, so let's break it down a little bit.
• 1:09:25
  Absolutely historic summit that's going to be happening at
• 1:09:28
  the White House. We got very lucky.
• 1:09:31
  We were going to originally just just make today's show extra
• 1:09:35
  long. So we are just going to play it
• 1:09:36
  live for you guys. We're going to end the culture,
• 1:09:38
  but essentially the the summit got pushed back an hour and a
• 1:09:41
  half. So let's just kind of do an
• 1:09:42
  analysis the significance of what the summit is all about.
• 1:09:45
  And also a lot of people were expecting the removal of capital
• 1:09:49
  gains. Now the reason I talk about the
• 1:09:51
  Overton window so much, we have to define what the Overton
• 1:09:55
  window is. It's essentially the acceptable
• 1:09:57
  window of discourse right now. Essentially, we are moving that
• 1:10:05
  window of discourse into the idea that, you know, taxation
• 1:10:11
  shouldn't be what taxation is. And you hear that with Trump
• 1:10:17
  dropping the ideas of eliminating the income tax.
• 1:10:21
  Trump has been quoted in the past that it's unfair that
• 1:10:25
  Bitcoin has a capital gain because it's money.
• 1:10:29
  You don't pay a capital gain if you use EUR instead of dollars
• 1:10:34
  or if you're changing dollars for EUR, you don't pay a capital
• 1:10:38
  gain on that. Why should you pay a capital
• 1:10:40
  gain if you're choosing to use Bitcoin over dollars?
• 1:10:44
  Like, why are we being penalized because we're choosing to use
• 1:10:48
  better money? Like, that's a really important
• 1:10:50
  question. You want to know what motivated
• 1:10:53
  the IMF to go after El Salvador and essentially try to block
• 1:10:57
  them unsuccessfully in order for them to stop buying Bitcoin, in
• 1:11:02
  order for them to reverse their Bitcoin legal tender law?
• 1:11:04
  It's because Fiat cannot be equal to Bitcoin.
• 1:11:10
  That's a very big problem for the powers that be.
• 1:11:15
  Why is it a big problem? Because it opens up a rabbit
• 1:11:18
  hole. What is the rabbit hole?
• 1:11:20
  Money can exist without inflation.
• 1:11:23
  Inflation right now is treated like, like a natural law, like a
• 1:11:28
  fact of life. Like it's like there just has to
• 1:11:31
  be inflated. The price of eggs is going
• 1:11:33
  higher. Oh my God, the price of eggs has
• 1:11:35
  not been going higher for me. I, I, I've been using Bitcoin.
• 1:11:39
  In fact, the price of eggs has been trending to 0 for the last
• 1:11:43
  you know, I don't know how long, right?
• 1:11:46
  That's just how it works, right, Opti?
• 1:11:48
  I don't know if that's regarding.
• 1:11:50
  Now this was earlier and someone said Trump was using sailors tie
• 1:11:52
  day. I'm colorblind, but that looks
• 1:11:54
  gold to me. That looks yellow.
• 1:11:56
  That's. Not one fake news in the chat
• 1:11:58
  so. Yeah.
• 1:11:59
  I mean, that's what I gotta say. Like that's essentially, that's
• 1:12:03
  the, like, that's the predicament.
• 1:12:05
  The predicament is like, look like the moment you start saying
• 1:12:09
  and, and Parker Lewis Opti actually did a great job reading
• 1:12:12
  his article and finding his article, because I think a lot
• 1:12:14
  of people are forgetting that Bitcoin fundamentally is money,
• 1:12:18
  right? Like Bitcoin is being treated as
• 1:12:19
  a commodity. The government is seeing as a
• 1:12:21
  commodity. There's a lot of big proponents
• 1:12:24
  that are saying like, push it as a commodity, because if you push
• 1:12:27
  it as a commodity, it's you're not going to have a a problem
• 1:12:30
  from a regulatory perspective because the governments won't
• 1:12:33
  see it. The the issue is that like, look
• 1:12:35
  like it's more than a commodity. It can be used as money.
• 1:12:38
  I've used Bitcoin as money. You know, I've used it to
• 1:12:40
  transact. When El Salvador had his legal
• 1:12:43
  tender, I used it to pay the immigration fee.
• 1:12:45
  Lightning has come a a very, very long way.
• 1:12:49
  So yeah, I mean, it's more than a commodity.
• 1:12:52
  It can be used as money. Gold is limited, right?
• 1:12:54
  Like gold is a commodity, but like, because of its physical
• 1:12:57
  characteristics, like, what are you going to do to pay with gold
• 1:12:59
  coins? Like, like that kind of limits
• 1:13:02
  your ability. What you can do with it.
• 1:13:03
  What are you going to do? Pay with barrels of oil?
• 1:13:05
  Like, you know, not everyone can do that, right?
• 1:13:08
  But you can definitely pay with Bitcoin.
• 1:13:10
  Like, it's pretty effing easy. Now.
• 1:13:12
  Is it as seamless as Apple Pay? Not yet, but you know, like it
• 1:13:18
  totally can. It's just a matter of like, it's
• 1:13:20
  just a matter of time in my opinion.
• 1:13:21
  But the point I'm trying to make is like look like essentially to
• 1:13:26
  weave it back in, Bitcoin is money and Bitcoin is better
• 1:13:31
  money. And because Bitcoin is better
• 1:13:33
  money, essentially like, you know, it, it calls into question
• 1:13:38
  Fiat. Like what is the point of Fiat
• 1:13:40
  if now there's a better solution?
• 1:13:42
  And The thing is, you guys have to understand that governments
• 1:13:45
  get a tremendous amount of power because that's really the
• 1:13:48
  correct word for it. From being able to just create
• 1:13:52
  money out of thin air, it's a tremendous amount of power,
• 1:13:55
  right? Imagine being able to create
• 1:13:57
  money for free that everyone else has to work for, right?
• 1:14:00
  So essentially, like, do you think they're just going to walk
• 1:14:03
  it back because now there's a better technology?
• 1:14:06
  No, of course not. They're going to try to justify
• 1:14:08
  their existence. And you're not seeing this so
• 1:14:11
  much over here. But in Europe, you know, when
• 1:14:14
  you see the central bankers go on TV or write the journals and
• 1:14:17
  basically say, like, look, guys, like let's be honest here.
• 1:14:22
  We need a central bank digital currency for the sovereignty of
• 1:14:24
  Europe. Like what do you mean?
• 1:14:28
  No, no, no, no. You need a central bank digital
• 1:14:30
  currency for the sovereignty of politicians in Europe.
• 1:14:32
  That's what you mean. That's what you actually mean.
• 1:14:34
  Like, let's be real, right? So look, we always say it.
• 1:14:39
  We believe, you know, we might be wrong, but we believe that
• 1:14:42
  Bitcoin is going to enable the separation of money and state.
• 1:14:45
  This is something that has been predicted for many years now.
• 1:14:48
  The book The Sovereign Individual talks about this,
• 1:14:51
  right? With the rise of information
• 1:14:52
  technologies, with the rise of the Internet, you're going to
• 1:14:55
  see the rise of individual sovereign individuals because
• 1:14:58
  they're going to essentially be able to like, say, get to decide
• 1:15:01
  what information they consume, but also which money they choose
• 1:15:04
  to use. And if you have a choice, like
• 1:15:07
  guess what, I think people are going to willingly choose better
• 1:15:11
  money. They, we saw an example of what
• 1:15:14
  happened when they rolled out about a central bank digital
• 1:15:16
  currency in Nigeria. It was called the E naira.
• 1:15:19
  They essentially rolled it out and it wasn't successful.
• 1:15:22
  In fact, it was it, it was so unsuccessful that they actually
• 1:15:26
  arrested a finance executive. They recently just got him
• 1:15:30
  freed, but they arrested a finance executive because the
• 1:15:33
  government was basically this thing like finance is ruining
• 1:15:35
  our money. No, no, no, no.
• 1:15:37
  The money isn't being ruined by finance or the alternatives.
• 1:15:41
  The money is being used is being is being broken because
• 1:15:45
  governments can't control themselves.
• 1:15:47
  They can't help but to not print.
• 1:15:49
  And essentially they've been able to get away with that for a
• 1:15:52
  very long time. They've been able to get away
• 1:15:54
  with the narrative that inflation is necessary in order
• 1:15:58
  for the economy to function. I've been asking this question
• 1:16:01
  to many, very many smart bitcoiners.
• 1:16:04
  Jeff Booth, Larry Lapar, that episode's going to be dropping
• 1:16:07
  soon. I've been asking them, so guys,
• 1:16:09
  is is inflation necessary in order for money to function?
• 1:16:12
  They all say no, right? And and that's the thing that
• 1:16:14
  people haven't realized. That's the thing the world has
• 1:16:16
  not woken up up to yet. The American Dream isn't dead.
• 1:16:21
  You're just using the wrong currency if you use Bitcoin, I
• 1:16:25
  promise you, if the the house you want to afford, the life you
• 1:16:29
  want to afford, it's not a question of whether you will be
• 1:16:32
  able to afford it. It's a question of how long do I
• 1:16:35
  need to save? Because everything trends to
• 1:16:38
  everything trends to zero against Bitcoin, right?
• 1:16:41
  So anyhow, this is very exciting times, very exciting day, very
• 1:16:46
  historic day, and we're winning, guys.
• 1:16:49
  Make no mistake, we are winning. Absolutely.
• 1:16:51
  Opti pulled out the guest list of the people who are going to
• 1:16:55
  be attending the White House Crypto Summit.
• 1:16:59
  And Opti, I don't know if you want to go read down the list.
• 1:17:01
  Yeah, yeah, we'll zoom in here. So of course, Donald Trump, Bo
• 1:17:04
  Hines, David Sacks of White House.
• 1:17:07
  Unfortunately, Brad Garlinghouse of Ripple, we have Michael
• 1:17:10
  Saylor, MicroStrategy, We have Paulo, Paulo Ardorno of Tether.
• 1:17:14
  We have Kyle Simani of Multi Coin Capital, Kathy Wood of Arc,
• 1:17:17
  Charles Hoskinson of Cardano Foundation.
• 1:17:20
  We have Anatoly Yakovenko of Solana Foundation.
• 1:17:23
  We have Vitalik of of course Ethereum Foundation, We have Nat
• 1:17:27
  Eliasen of Ando, Marc Andreessen of Andreessen Horowitz A16Z.
• 1:17:33
  We have Paul Atkins, SEC Chair, Brian Armstrong of Coinbase, CZ
• 1:17:37
  of finance. Oh, wrong one.
• 1:17:39
  I, I think I got, I think I got trolled there, pulled up the
• 1:17:43
  wrong one. But so guys, as I said
• 1:17:46
  yesterday, you know, it seems based on that list, we can say
• 1:17:51
  there's like 3 or for actual bit corners on the list.
• 1:17:55
  The rest of them are kind of representations of the crypto
• 1:17:58
  industry. But I think from the news we saw
• 1:18:01
  last night, it's, it's becoming very clear that Bitcoin and
• 1:18:06
  obviously what Howard Lutnick said, Bitcoin will be treated
• 1:18:08
  differently. As we saw that actually
• 1:18:10
  happened. Bitcoin is in its own strategic
• 1:18:12
  Bitcoin reserve. There's this digital asset
• 1:18:14
  stockpile. So we're not sure if they're
• 1:18:17
  just going to kind of, you know, pat themselves on the back and
• 1:18:20
  kind of rehash this strategic Bitcoin reserve executive order
• 1:18:24
  from last night. But hey, it's going to be very
• 1:18:27
  interesting to see what happens. Again, guys, we had planned to
• 1:18:30
  cover it for you guys on the show because it should have
• 1:18:32
  started right now, but it got pushed back about an hour and a
• 1:18:35
  half. So, you know, we'll cover cover
• 1:18:37
  everything on Monday for you guys.
• 1:18:39
  We'll be able to do a full breakdown.
• 1:18:40
  But anyways, on that note, Chris, what's your expectations
• 1:18:45
  of what's going to happen out of this White House Crypto Summit?
• 1:18:48
  I think he's just going to be talking about the reserve that
• 1:18:50
  he had. There's one more point that I
• 1:18:52
  wanted to add. So in the executive order, Trump
• 1:18:54
  specifically, there was one section I forget we pulled it up
• 1:18:57
  earlier, Opti, but it's basically the section talking
• 1:18:58
  about there will only ever be 21 million Bitcoin as per the
• 1:19:02
  protocol. Basically Trump solidified.
• 1:19:04
  I know it's you know, code over, you know, speech in this regard,
• 1:19:07
  but basically he solidified that anything else that does not have
• 1:19:11
  a 21 million cap. I know people have talked about
• 1:19:13
  tail emissions before they've talked about changing bitcoins
• 1:19:16
  hard cap. Well, obviously with this
• 1:19:18
  executive order, he's blocking in that Bitcoin is Bitcoin
• 1:19:20
  because of the 21 million hard cap along with other things.
• 1:19:23
  But I just want that's an important note that like, you
• 1:19:25
  know, people are always worried about financial institutions
• 1:19:28
  potentially changing the definition or the rules or
• 1:19:31
  basically trying to hard fork Bitcoin for their own cause,
• 1:19:33
  which is still something that could happen.
• 1:19:35
  But under this caveat, it means that if that were to occur, the
• 1:19:38
  United States government right now by executive order is going
• 1:19:41
  to hold Bitcoin and Bitcoin only.
• 1:19:42
  So if they hard fork it to change the total number of cap,
• 1:19:45
  they are not allowed to change it to that.
• 1:19:46
  Obviously without a different executive order, which as a
• 1:19:48
  right now, I don't think that would be the case.
• 1:19:50
  So more bullish for Bitcoin and protecting the rights and
• 1:19:53
  meaning of it. Obviously, running your own node
• 1:19:54
  is the full way to get sovereignty of yourself and your
• 1:19:57
  Bitcoin and actually have the truth on your side of what
• 1:19:59
  you're running. But yeah, I'll just end off with
• 1:20:02
  a stay humble and stacks at. Regardless of what Trump says at
• 1:20:04
  3:00 PM Eastern today, we are winning.
• 1:20:06
  This is what the beginning of the greatest decade, or if not 2
• 1:20:09
  decades that we ever see, you know, stay positive, you know,
• 1:20:13
  create families, you know, building your communities and
• 1:20:16
  yeah, stay humble and stacks at. Let's go.
• 1:20:19
  I think we can officially rebrand Trump's branding of the
• 1:20:23
  Golden age to either the Orange Age or the Bitcoin Age is upon
• 1:20:27
  us. Boys and girls, you are here
• 1:20:30
  during the greatest time to be alive, the Bitcoin Age and now
• 1:20:35
  everyone's on board. I think this is probably, I know
• 1:20:37
  for a lot of people in Bitcoin, a lot of people that don't like
• 1:20:40
  government, don't like politicians, etcetera.
• 1:20:43
  They're probably like, OK, who really cares if the US
• 1:20:45
  government is legitimizing Bitcoin?
• 1:20:47
  But as we started in the beginning of the show with the
• 1:20:49
  idea that now we have literally the world's reserve currency
• 1:20:55
  holders, issuers legitimizing Bitcoin as a global neutral
• 1:20:59
  asset, this is going to make waves.
• 1:21:01
  We've been talking about this on the show for a while, that the
• 1:21:03
  narrative around a strategic Bitcoin reserve in the US is
• 1:21:07
  probably a lot stronger than anything that will materialize.
• 1:21:10
  Well, hey, it materialized. And now I'm sure in the next
• 1:21:13
  couple of weeks we're going to see a lot of dominoes fall.
• 1:21:16
  I'm sure China's talking about it behind the scenes.
• 1:21:19
  We all know David Bailey's been saying that.
• 1:21:21
  I'm sure Russia and everyone else in the world is now taking
• 1:21:24
  very seriously the idea to rush a strategic Bitcoin reserve.
• 1:21:28
  So I think we're going to see an incredible amount of smash
• 1:21:31
  buying coming up by the end of this year.
• 1:21:33
  I think Nico, I know, I know, I was trolling you and calling you
• 1:21:36
  a bear earlier along the weeks, but 500K Bitcoin does seem to be
• 1:21:40
  in the play by 500K in play. Let's go.
• 1:21:44
  Pretty hyped about that. All right guys, before I wrap up
• 1:21:47
  the show, of course make sure you buy your CF500K by
• 1:21:51
  conference day. Which conference?
• 1:21:53
  The big block boom conference 500K by what next month?
• 1:21:57
  This is the way of course guys, get your tickets to a true
• 1:22:00
  Bitcoin conference April 3rd through the 6th in Dallas, TX.
• 1:22:05
  Ticket prices will increase And shout out to Carrie.
• 1:22:08
  We did give one away yesterday. We got in touch with her.
• 1:22:11
  We did it guys. I know it's struggling doing it
• 1:22:13
  on yesterday's show, but make sure you get yourself a ticket.
• 1:22:16
  You can do all the cart tickets if you don't want to go to the
• 1:22:18
  conference, but I suggest you, you know, that's the best part.
• 1:22:21
  You walk in the halls, you talk with all your favorite
• 1:22:23
  Bitcoiners. You can just buy tickets to any
• 1:22:25
  event at Bitlock Boom again April 3rd through the 6th and if
• 1:22:30
  you use the promo code BBB21I repeat BBB 21, you can get $100
• 1:22:37
  off. Well, on that note guys, what a
• 1:22:41
  day. Historic day here for Bitcoiners
• 1:22:44
  on Simply Bitcoin. Good thing we got Nico in here.
• 1:22:47
  He tried to take a day off, but we got him in here.
• 1:22:50
  On that note, Chris, we love you.
• 1:22:53
  Thank you for filling in on us and of course, the wonderful,
• 1:22:56
  the beautiful Internet Sophie with us super good to have.
• 1:23:00
  We had the, I think it's the first time we've had the whole
• 1:23:01
  team on the show, Nico, so we might have to do this more often
• 1:23:04
  on big days. Just get everyone on the show.
• 1:23:08
  On that note, guys, it's the weekend.
• 1:23:09
  Last show of the week. I've been your host, Opti.
• 1:23:12
  This is Friday, March 7th. Get outside, touch some some
• 1:23:16
  some grass. I was going to say glass.
• 1:23:18
  Eat some good food, guys. We're winning.
• 1:23:21
  Make sure you relish this moment.
• 1:23:23
  You were here before the US government started a strategic
• 1:23:27
  Bitcoin reserve. What an epic day.
• 1:23:29
  All right, guys, on that note, we'll see you on Monday.
• 1:23:32
  Have a good weekend. Today's episode was brought to
• 1:23:35
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:23:39
  mission to enable financial independence.