Latest / Simply Bitcoin / Mark Cuban Declares Bitcoin Trade OVER | $39 Trillion Says He's WRONG | Bitcoin Simply

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Mark Cuban Declares Bitcoin Trade OVER | $39 Trillion Says He's WRONG | Bitcoin Simply · Simply Bitcoin

• 0:00
  This might get some people upset.
• 0:01
  I think Bitcoin has lost the plot I.
• 0:03
  Think Bitcoin is so played out, there's no incremental buyers of
• 0:10
  Bitcoin and I think people have essentially ended the game of
• 0:15
  Bitcoin. Two billionaires separately said
• 0:17
  the same thing this week. The Bitcoin trade is over.
• 0:21
  Mark Cuban and Jason Calacanis aren't just billionaires,
• 0:24
  they're two of the most connected guys in tech and
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  finance. Are they right?
• 0:28
  Every year on May 22nd we celebrate Bitcoin Pizza Day and
• 0:31
  a guy named Laszlo who bought 2 pizzas for 10,000 Bitcoin which
• 0:35
  would now be worth $775,000,000. But is that day over?
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  Maybe Bitcoin is no longer the asset that will retire your
• 0:43
  entire bloodline. Maybe there are no Laszlo's in
• 0:46
  the future some people might disagree with.
• 0:49
  Do you realize there might not be a single more important thing
• 0:52
  in the history of mankind? We're changing the entire
• 0:54
  financial system. So who's right, the billionaires
• 0:57
  or the Bitcoiners? Was the Bitcoin dream just for
• 0:59
  people who were lucky and crazy enough to invest in it early, or
• 1:03
  is there actually still a supply squeeze coming?
• 1:05
  With a congressman introducing a bill to make Bitcoin a strategic
• 1:09
  reserve asset and allowing the United States government to buy
• 1:11
  5% of all Bitcoin, will our $39 trillion debt problem ever come
• 1:15
  back to really bite us? Or is that just a scare tactic
• 1:19
  made by people who want us to buy Bitcoin and pump their bags?
• 1:22
  If you're not sure about whether you should be a buyer or a
• 1:24
  seller of Bitcoin, this episode is for you.
• 1:27
  We got a lot to cover. This is Dante Coke with Bitcoin.
• 1:30
  Simply, let's go. There's a post on X right now
• 1:37
  for my friend Neil Jacob that absolutely blew up with 2
• 1:40
  million views. It's a clip from Mark Cuban, the
• 1:43
  billionaire, the former owner of the Mavs, saying what a lot of
• 1:46
  people have been thinking about Bitcoin, except he just said it
• 1:49
  out loud and the dude has a lot of money.
• 1:50
  This might get some people upset.
• 1:52
  I think Bitcoin has lost the plot.
• 1:55
  And when I started buying Bitcoin, and I've sold all of
• 1:58
  it, except not all of it, most of it, it was because when all
• 2:03
  the shit hit the fan with the Iran war and, you know, Bitcoin
• 2:08
  was always the best alternative to Fiat currency losing its
• 2:12
  value. And I always thought it was a
• 2:14
  better version of gold than gold.
• 2:16
  Well, gold just blew up and went, you know, the $5000
• 2:20
  Bitcoin dropped. And every time the dollar
• 2:23
  dropped, Bitcoin should have gone up, you know, because if
• 2:25
  it's priced in dollars, it was cheaper so anybody from around
• 2:28
  the world could go pay and all. And it just didn't do that.
• 2:31
  Not such a hedge. No, it's not, not the hedge that
• 2:33
  I expect it to be. And that was really
• 2:35
  disappointing. And so I'd, I'd say I'm more
• 2:38
  disappointed in Bitcoin, not as disappointed in Ethereum and the
• 2:43
  rest, you know, the, the token stuff, the meme coins, the
• 2:48
  disappointment has been real. It's always true in bear
• 2:51
  markets, but even more true in this bear market.
• 2:53
  The narrative was supposed to be that Bitcoin was some hedge
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  against inflation after seeing what it did during COVID with
• 2:58
  the money printer. It's supposed to zig when
• 3:00
  everything else zags. It's supposed to be the absorber
• 3:03
  of global liquidity. Well, after five years, it's
• 3:05
  grown about 20% a year. Nothing crazy, not like what
• 3:09
  people are hyping up. Our debt is still out of
• 3:12
  control. We have $39 trillion worth of
• 3:14
  debt in the M2 money supply, which is supposed to be a
• 3:16
  barometer of Bitcoin, and its price going up has risen from
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  about 100 trillion to 141 trillion over the last five
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  years. But what has that done to the
• 3:25
  price of Bitcoin? Almost nothing.
• 3:27
  And to throw salt in the wound, this is pizza day, a day where
• 3:31
  we're here by the guy who bought 2 pizzas worth $775 million.
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  Just posted on the forum, I said, you know, if anybody's
• 3:38
  interested, I'm offering 10,000 bitcoins in exchange for some
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  pizza. And somebody there said, hey,
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  I'll, you know, I'll take you up on that offer.
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  So I sent him the 10,000 Bitcoin and I said, OK, here it is.
• 3:50
  You know, I'm waiting for my pizza.
• 3:52
  And you know, he phoned it in, he paid with his credit card and
• 3:55
  the pizza showed up at my door. There's this logic out there
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  that there's no more buyers of Bitcoin, and Bitcoin is old
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  news. This is exactly what Jason
• 4:02
  Calacanis believes, and he's a guy that spots trends early.
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  The billionaire is one of the first guys in Robin Hood and
• 4:08
  Uber and Wealthfront, and he thinks that Bitcoin is old
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  technology. It's old news, It's played out,
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  it's going to get passed up for other better financial products.
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  I. Think Bitcoin is so played out,
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  I think everybody has like some exposure to it.
• 4:24
  Who would have wanted exposure by now that there's no
• 4:27
  incremental buyers of Bitcoin? And I think people have
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  essentially ended the game of Bitcoin now that it feels like
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  there are so many other alternatives.
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  And on a functionality basis, there are tons of legal stable
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  coins that make it easier to move money around at a lower
• 4:46
  cost. On the other side, if you're
• 4:48
  looking for something interesting bit Sensor and Tau
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  and Solana feel much more interesting in terms of where
• 4:55
  the entrepreneurs are placing their bets and building things
• 4:59
  around it and Bitcoin feels stale and I, you know, I said
• 5:02
  Bitcoin zero was, you know, a distinct possibility and I said
• 5:06
  that when Bitcoin was at 10:50 K everything in between why?
• 5:11
  Well, all technology eventually deprecates, with very few
• 5:15
  exceptions we've seen in our lifetime.
• 5:17
  Like yeah, sure there are. There are still people running
• 5:20
  systems on Fortran or something. There are still people running
• 5:23
  on mini computers here and there, but.
• 5:26
  Here's a CNBC article from Wednesday, January 24th, 2018
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  says Quote there's a 33% chance that Bitcoin goes to 0.
• 5:35
  VC So I, I, I do think that that's still something people
• 5:40
  should keep in mind. Now, I know it sounds crazy, but
• 5:44
  if there is a better system or a new game, if you're a speculator
• 5:48
  and you feel the game of Tau or you know, the game of Salon is a
• 5:52
  more interesting game, more interesting energy there, why
• 5:54
  wouldn't you move half your Bitcoin over or a third of your
• 5:57
  Bitcoin over? That creates downward pressure.
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  Bitcoin is stale, Bitcoin is old news, Bitcoin is played out.
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  I wholeheartedly disagree. This is a short term viewing
• 6:05
  perspective. We're moving to a digital world,
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  a world that's borderless, a world with more geopolitical
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  conflict and that we're moving to a multi polar world from a
• 6:13
  uni polar world. The financial world that we
• 6:15
  lived in is going away. There is no more cash.
• 6:19
  There will be no more ATMs. A new system must be built and
• 6:22
  Bitcoin will be the foundation of that.
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  My views are very similar to Jordy Visser's.
• 6:27
  Listen to what he had to say on a recent podcast.
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  Because the the reality is it's the new technology to deal with
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  the world we're going to be in plain and simple tokens to me.
• 6:38
  And what's happening in crypto, I guess when I say the financial
• 6:44
  guardrails are changing, everyone in crypto is kind of
• 6:48
  like, yeah, yeah, yeah, I know, I know.
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  And I'm like, all right, Do you realize there might not be a
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  single more important thing in the history of mankind?
• 6:55
  We're changing the entire financial system, which has has
• 6:58
  been set up this way honestly for thousands of years.
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  We're talking about doing everything digitally.
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  Everything. We're talking about instant
• 7:06
  settlement, cross borders. It has implications for getting
• 7:09
  rid of the borders. This country thing, it doesn't
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  exist in the world that I see in 20 years between stable coins,
• 7:19
  all of the financial guardrails being you can't have currencies,
• 7:22
  you can't. So it is this merging.
• 7:25
  Governments will try and fight it, the capitalist system will
• 7:28
  try and fight, but that's not the way it's going to work.
• 7:31
  The banks are losing, the governments are losing, the
• 7:33
  people are winning and they want something where things can
• 7:36
  exchange. The new world is digital.
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  It's borderless. It's permissionless countries
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  will not be taken out by someone else who controls the financial
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  systems. New rails will be built, built
• 7:47
  upon stable coins and Bitcoin. And Bitcoin will never go away.
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  Not just because it is the best settlement network in the world
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  that operates 24/7 without a central party or actor, but it's
• 7:57
  because it's more than that. It's a belief system and beliefs
• 8:01
  never dies to. What I said at the beginning,
• 8:04
  Bitcoin is a narrative that will always be a narrative.
• 8:06
  It's something that the world believes in.
• 8:08
  It has been chosen. It has a Moat because belief is
• 8:10
  harder than fundamentals. Fundamentals come and go.
• 8:14
  Belief systems don't come and go.
• 8:16
  It has survived many, many bear markets.
• 8:19
  So it is in the stage of a long term acceptance.
• 8:24
  The problem is it needs money. And like I said, if you've got
• 8:28
  the opportunity to invest in things that have 5 baggers and
• 8:31
  10 baggers and there's dollars flowing behind them and
• 8:34
  fundamentals behind them. And then you think about all of
• 8:37
  the money managed in the world. It's by human beings still at
• 8:41
  this point that are in the traditional finance world, and
• 8:45
  it's doing well. So I think the one thing people
• 8:48
  should take out is that every single thing you mention,
• 8:51
  whether it's energy, commodities, SanDisk, I
• 8:54
  mentioned Micron, I mentioned Intel, they have one very common
• 9:00
  thread to Bitcoin, which is those are all scarce assets.
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  All of them right now have shortages, they have
• 9:06
  bottlenecks. Bitcoin is a scarce asset.
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  It's also an abundant asset, meaning it's built on.
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  Code. It's open source.
• 9:14
  It cannot be stopped. It's built on the beliefs and
• 9:17
  it's built on code. A code with a fixed digital
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  supply that continues to be bought up by people every single
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  day. And what happens when that
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  belief in that code gets written into law by the United States
• 9:29
  government, when the United States government deems Bitcoin
• 9:31
  as strategically important? That's what Nick Begich from
• 9:34
  Alaska is proposing with the American Reserve Modernization
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  Act, where we allow other assets, digital assets,
• 9:41
  sovereign assets like Bitcoin to be bought by the United States
• 9:44
  government. And how much?
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  5% of the entire supply? In order to maintain the
• 9:50
  sovereignty of the US dollar and the strength of the US dollar,
• 9:53
  you've got to have a strong reserve policy.
• 9:55
  That's why central banks around the world for so many years,
• 10:00
  thousands of years in fact, have held reserves on their balance
• 10:04
  sheet. We need to recognize that
• 10:06
  digital assets are the 21st century equivalent of those
• 10:09
  historical gold reserves. So Begich wants the government
• 10:13
  to stockpile 5% of all Bitcoin, which is equivalent to how much
• 10:17
  of the world's gold the US stores and reserves.
• 10:19
  And he already found a way to fund it without taxpayers.
• 10:22
  The Treasury is currently sucking up crypto assets tied to
• 10:25
  Iran through Operation Economic Fury.
• 10:28
  Begich's plan sees the Ayatollah's crypto and drop it
• 10:31
  straight into the US balance sheet, but he warns the GOP
• 10:35
  cannot afford to drag its feet. Conservatives have a tight 6
• 10:38
  month window to pass this bill and lock the end of law while
• 10:41
  Republicans still control both houses of Congress.
• 10:44
  So of course, as we know, the clock is ticking with the
• 10:47
  midterms coming up in November. Bitcoin is viewed as an asset
• 10:49
  that has value to nations, that has value to people, and that
• 10:53
  will have more and more value as we enter a regime that's filled
• 10:57
  with debt and geopolitical conflict.
• 10:59
  That's why you shouldn't sell your Bitcoin, and that's why you
• 11:02
  should work with someone like Ledin, who will allow you to
• 11:04
  borrow against your Bitcoin stack without selling your
• 11:06
  Bitcoin and not in getting any capital gains in the process.
• 11:10
  Ledin allows you to borrow up to 50% of the Bitcoin value you
• 11:13
  post onto their platform in less than six hours.
• 11:16
  You can pay off these loans at any time and your Bitcoin is
• 11:19
  never re hypothecated or lent out.
• 11:21
  It's held in cold storage. Rates start at 9.9 to 11.5% and
• 11:26
  the application takes just two minutes.
• 11:28
  Use the link in the description or the QR code to get started
• 11:31
  with Ledin today. Never sell it, borrow against
• 11:34
  it. Take out a second mortgage.
• 11:37
  The only use of time is how do I buy more Bitcoin?
• 11:40
  Take all your money to buy Bitcoin.
• 11:43
  Then take all your time to figure out how to borrow more
• 11:46
  money to buy more Bitcoin. Then take all your time and
• 11:49
  figure out what you can sell to buy Bitcoin.
• 11:52
  And if you absolutely love the thing that you're doing and you
• 11:54
  don't want to sell it, go mortgage your house and buy
• 11:57
  Bitcoin with it. And if you've got a business
• 11:59
  that you love because your family works for the business,
• 12:04
  it's in your family for 37 years, and you can't bear to
• 12:06
  sell it, mortgage it, finance it, and convert the proceeds
• 12:10
  into the hardest money on earth, which is Bitcoin.
• 12:14
  Buying Bitcoin with cash was not enough for you.
• 12:18
  You have to go to the next level and issue shares and depth and
• 12:22
  find every way to commit more dollars to buy more Bitcoin.
• 12:25
  And then you have to onboard the world with you.
• 12:28
  Why? If you're living in a
• 12:33
  hyperinflationary economy and the currency meltdown melts
• 12:37
  down, the bank fails, you know, happened in Germany and helping
• 12:40
  Argentina happened in Brazil. It doesn't matter how hard you
• 12:44
  work, right? People were, people were
• 12:47
  basically bringing wheelbarrows of money, $20 billion to 20
• 12:53
  billion marks to buy a barbed soap.
• 12:56
  So working hard and not thinking about monetary theory and not
• 13:02
  understanding money isn't a solution.
• 13:07
  The ruling class would like you to work hard and not think about
• 13:11
  these things, right? But but if you want to, if you
• 13:17
  want to create wealth or preserve wealth, it's not enough
• 13:22
  to just work yourself to death, you know, and I can give you
• 13:26
  lots of examples of that. Now, if you look at the wealthy,
• 13:32
  you know, a wealthy real estate investor, they would go and get
• 13:36
  a loan and they borrow money at 5 or 6% and they invest it in
• 13:40
  the building and they would generate a 10% return and they
• 13:44
  would capture the difference. And you know, if you want to
• 13:47
  make a billion dollars, you borrow a billion dollars, you
• 13:52
  you use it to build a building, you keep 80% or 100% of the
• 13:59
  equity. You put the rest 80% of the
• 14:01
  building is debt. So maybe you have $101.1 billion
• 14:06
  building and you find a way to raise 100 million of equity and
• 14:10
  you have $1 billion of debt. And then the money supply
• 14:13
  expands at 7% and the building increases at 7% a year.
• 14:17
  And that means after 10 years the value of the buildings
• 14:19
  doubled. So in 10 years?
• 14:21
  Make the spread of the appreciation of the asset minus
• 14:24
  the debt and the liabilities that you have against the asset
• 14:26
  that you're borrowing. In in for That is the play that
• 14:30
  Michael Saylor's talking about, and he's saying that Bitcoin is
• 14:32
  the new real estate. It's what everyone was doing in
• 14:35
  the 90s and early 2000s that made them rich.
• 14:38
  Bitcoin is the asset that people are going to want in a
• 14:40
  hyperinflationary world. That hasn't changed.
• 14:43
  And if you haven't looked back at what happened in the 70s with
• 14:46
  inflation, it looks a whole lot like this decade that we're
• 14:49
  moving into a supposedly short war that drags out much longer
• 14:52
  than you think, potentially corrupt administration.
• 14:55
  That decade was the 70s that went into the 80s and was a
• 14:58
  decade where we saw inflation absolutely crush anyone who
• 15:01
  didn't own assets. Scarce assets.
• 15:04
  History doesn't repeat, but it rhymes, and this feels a whole
• 15:08
  lot like that. So despite what Mark Cuban has
• 15:10
  to say, despite what Jason Calcanis has to say, Bitcoin is
• 15:14
  the asset of the future. There aren't going to be other
• 15:16
  products built on top of it. Look at what's happening with
• 15:19
  Ethereum right now, with people leaving the foundation left and
• 15:21
  right. The promise of these other
• 15:23
  assets is no longer true. There was going to be other
• 15:26
  protocols and platforms other than the Internet.
• 15:28
  But look at what we use everyday.
• 15:30
  The single protocol that was deemed A Ponzi scheme that was
• 15:33
  almost outlawed by the United States government, that was
• 15:35
  adopted into law, that became the foundation of the largest
• 15:38
  tech companies in the world that are headquartered and domiciled
• 15:41
  in the United States, which is single handedly brought wealth
• 15:43
  to all of our stock portfolios into every single one of us.
• 15:47
  Today, Bitcoin is the new Internet.
• 15:49
  It is the new digital real estate.
• 15:51
  So should you sell your Bitcoin and listen to Mark Cuban?
• 15:54
  I don't know, maybe you haven't been listening for the past 15
• 15:57
  minutes and maybe you haven't subscribed to the channel.
• 16:00
  Maybe you don't understand that Bitcoin isn't just a fad, that
• 16:03
  there will be more Laszlo's in the future and then this is the
• 16:06
  opportunity where the financial system is changing.
• 16:08
  Maybe you don't get that yet, maybe you do.
• 16:11
  And if you do get that, maybe it's time that you take a little
• 16:14
  bit of precaution and start to learn how to protect and hold
• 16:17
  the asset that everyone says is going to be so valuable.
• 16:20
  It's like an umbrella. It's better to have it and not
• 16:23
  need it than need it and not have it.
• 16:24
  O Understanding how to run a node, how to maintain your
• 16:26
  privacy, how to hold your own key sovereignly is a tool that
• 16:30
  you need to understand. Don't just do it on your own.
• 16:33
  Get a coach at the bitcoinway.com member of their
• 16:35
  team will walk you through exactly what I'm talking about.
• 16:38
  Just use the QR code and someone will reach out and give you all
• 16:42
  the tools that you need to protect this asset that's going
• 16:44
  to be worth a lot more in the future.
• 16:47
  And if you haven't already done so, think about acquiring
• 16:50
  Bitcoin in as many ways as possible, working for it, buying
• 16:53
  Bitcoin through spot products and through Bitcoin mining.
• 16:57
  Except you don't want to do that on your own.
• 16:59
  Outsource it to the team at SAS Mining.
• 17:00
  You give them the money, they give you sats, they host your
• 17:03
  machines, they repair them, they keep them running, and they keep
• 17:06
  the sats flowing. Use the QR code to get started
• 17:08
  with SAS Mining today. Who's right, the billionaires or
• 17:11
  the bit corners? Tell me what you think in the
• 17:14
  comments. This is Dante Cook with Bitcoin.
• 17:16
  Simply happy stacking.