Latest / Simply Bitcoin / Fed BOMBSHELL CONFIRMS $10M Bitcoin ENDGAME! | EP 1258

Transcript

Fed BOMBSHELL CONFIRMS $10M Bitcoin ENDGAME! | EP 1258 · Simply Bitcoin

• 0:01
  In my 8 years in Bitcoin, I never thought I would hear a
• 0:04
  central banker admit what Jerome Powell just said about the
• 0:08
  global monetary system. And we want you guys to pay
• 0:12
  close attention to what Jay Powell says in this clip because
• 0:16
  this speech not only confirms what the Trump's literally said
• 0:19
  this morning, but it also I think gives us insight into
• 0:23
  where Bitcoin is going into the future and also prepare you
• 0:28
  guys. It is a little dry and we'll
• 0:30
  we'll break it down on the flip side.
• 0:32
  Ted emerged from World War 2 as a global economic superpower.
• 0:37
  The Bretton Woods Agreement placed the US and the Fed in a
• 0:40
  central position in the global economy.
• 0:43
  Our mission then, as it is now, was to serve the American.
• 0:46
  People. But it was clear at that moment
• 0:49
  that the Fed needed to have better knowledge of global
• 0:52
  global developments to achieve our dual mandate goals.
• 0:57
  A 1948 memo proposing to create the division stated, quoting
• 1:02
  Problems of international economics and finance have
• 1:04
  become increasingly large, complex and significant in
• 1:08
  recent years, and our foreign economic relations will
• 1:11
  undoubtedly continue to give rise to issues of the first
• 1:15
  magnitude. That rare economic forecast that
• 1:18
  has turned out to be spot on 75 years later.
• 1:22
  It remains critical that the Fed understand the policies and
• 1:25
  practices of other governments and central banks and their
• 1:28
  implications for the US economy and for financial markets.
• 1:33
  Exchange rate policy, of course, is now firmly in the hands of
• 1:36
  the US Treasury. However, the end of the Bretton
• 1:39
  Woods era in the 1970s fundamentally changed the
• 1:43
  conduct of monetary policy, as policy makers had to understand
• 1:47
  the effects of potentially more volatile movements of the US
• 1:50
  dollar on American families and businesses.
• 1:54
  Understanding global trade and capital movements has only grown
• 1:57
  in importance since 1950. All right, guys.
• 2:03
  Did you catch that? Did you catch what he just said?
• 2:08
  Remember one of our favorite websites?
• 2:10
  WTF happened in 1971? Big corners have been talking
• 2:14
  about this for a long, long time.
• 2:17
  And now we have Jay Powell, who was supposedly going to resign
• 2:21
  yesterday. You know, everyone's wondering
• 2:23
  whether he's going to raise rates, cut rates, What are they
• 2:26
  doing over at the Fed? Well, he came out with this
• 2:29
  speech yesterday, didn't talk anything about cutting rates or
• 2:32
  raising rates or any of that. He literally dropped a WTF
• 2:38
  happened in 1971. Now, kind of breaking this all
• 2:41
  down, very interesting things we've been seeing from not only
• 2:45
  Jay Powell but Donald Trump. Remember a couple weeks ago we
• 2:48
  talked about Donald Trump mentioning the year 1913 with
• 2:52
  his funny and and kind of hilarious take of no one knows
• 2:56
  what happened in 1913, but it changed everything.
• 3:00
  Well, us bitcoiners know what happened, of course, the
• 3:02
  creation of the Federal Reserve. And now we have the chairman of
• 3:06
  the Federal Reserve mentioning 1970.
• 3:10
  Wow, you did it. And what is the importance of
• 3:14
  this? Of course, if you're a
• 3:16
  bitcoiner, if you understand monetary history, you know the
• 3:18
  importance of 1971. That's when Nixon took us off
• 3:21
  the Gold Center. That's when we fully dove
• 3:24
  straight into a totally Fiat paper system.
• 3:27
  And now we have the chairman of the Federal Reserve essentially
• 3:30
  saying, well, you know, guys, in 1970s something fundamentally
• 3:35
  changed in the system and he didn't go all into it, but us
• 3:39
  Bitcoiners know what's going on here.
• 3:41
  He is mentioning the fact that we completely detached ourselves
• 3:45
  from reality and started to get on a paper money system.
• 3:49
  Now, the interesting part about this, of course, as a Bitcoiner,
• 3:53
  we understand where this is going.
• 3:55
  And, and what Jay Powell is saying, if you read between the
• 3:59
  lines, he's essentially and his job here in these speeches is to
• 4:02
  project where the Federal Reserve is going.
• 4:05
  They, you know, they speak in code here and they're
• 4:08
  essentially telling the markets, hey, look, we are acknowledging
• 4:12
  that there is a problem here. We're acknowledging that things
• 4:14
  are changing, that there might be a new monetary regime on the
• 4:17
  horizon. Of course, as bitcoiners were
• 4:20
  like, that's going to be Bitcoin.
• 4:22
  Bitcoin will become the world reserve currency.
• 4:24
  Now we even have Jay Powell kind of admitting, hey, things are
• 4:27
  going to have to change. Now, if you're a pure Fiat maxi,
• 4:31
  if you're a pure, you know, not a Bitcoiner here, you're
• 4:34
  probably hearing that and you're just thinking like, oh, maybe
• 4:37
  the Fed's going to just change intro.
• 4:39
  Maybe their, their target's no longer going to be 2%.
• 4:42
  Maybe it'll be 4%. Maybe the new interest rate, you
• 4:45
  know, default won't just be, you know, a low and Drake, maybe
• 4:50
  we're going to have to move this up and we're going to all have
• 4:52
  to adapt to this. But from a Bitcoiners
• 4:54
  perspective, what I'm hearing here is essentially him
• 4:58
  acknowledging what we've been saying on the show for a long
• 5:00
  time. Things are going to have to
• 5:02
  change. There is a new monetary regime
• 5:05
  on the horizon. And if you're not adapting to
• 5:08
  the game being played, and of course, Jay Powell is projecting
• 5:11
  what's to come, and if you aren't reading the room, you
• 5:14
  aren't looking at the horizon, then you might get caught with
• 5:17
  your pants down metaphorically here.
• 5:19
  And I think Jay Powell is being forced into a corner.
• 5:22
  Obviously, we've been hearing him, you know, go back and forth
• 5:25
  with Trump. He's still kind of trying to
• 5:28
  position himself in this power position.
• 5:31
  And as Bitcoiners are sitting over here on the sidelines,
• 5:34
  essentially like, hey, we know bitcoins taking over here.
• 5:37
  So I think it's very historic to hear Jay Powell talk about 1970.
• 5:43
  Obviously, 1971 is the big year here.
• 5:46
  And now we have the central banks acknowledging that that
• 5:49
  very specific date, because we all know this change when Nixon
• 5:54
  got off the gold standard, basically when the US defaulted
• 5:57
  on their gold redemption. Things fundamentally change
• 6:02
  during the Bretton Woods agreement up until 1970,
• 6:05
  essentially the world was pegged to a dollar, which was pegged to
• 6:08
  gold. Now we're completely detached
• 6:10
  from reality and we're seeing the downstream effects of this.
• 6:13
  Now, Nico, before we get into what Eric Trump said this
• 6:17
  morning, which is in a very similar vein, what's your
• 6:21
  thoughts on Jay Powell essentially saying WTFWTF
• 6:25
  happened in 1971? Yeah, I mean, dude, it's, it's
• 6:29
  pretty crazy because Jay Powell has been talking about
• 6:33
  essentially how EU, the the US government is on an
• 6:36
  unsustainable fiscal monetary policy.
• 6:40
  He's even admitted to this, right.
• 6:42
  So it's interesting that around the same time he's bringing that
• 6:46
  up, he's also talking about it, basically making the case that
• 6:50
  look like the kind of Bretton Woods agreement that has been,
• 6:54
  you know, put in place since World War 2.
• 6:57
  It's kind of coming to an end. I mean, the writing is on the
• 7:00
  wall. They they can't really hide this
• 7:02
  anymore. Lynn Alden had an amazing
• 7:05
  presentation. I highly suggest you guys watch
• 7:07
  it. It's about 15 minutes that she
• 7:09
  did at Bitcoin 2025 and she made the case that nothing stops this
• 7:16
  train. We had the smartest guy in the
• 7:19
  world, the world's richest man, the man that invented self
• 7:24
  landing rockets, self driving cars, go into government and try
• 7:30
  to cut the deficit. He wanted to cut it by 1
• 7:34
  trillion. Then he moved it up to 2
• 7:36
  trillion. He was only able to cut it by
• 7:40
  150 billion. And the reason he left and the
• 7:44
  reason he got so you know, this like he just, he just lost all
• 7:49
  motivation because his, because he realized that the system is
• 7:53
  so inherently corrupt, so inherently broken.
• 7:57
  They just he pulled back. He says, look, I I can't do
• 7:59
  this, I can't do this, I can't do this anymore.
• 8:02
  And the own party that he got elected, right?
• 8:05
  He put his money on the line. I believe he contributed like
• 8:08
  $100 million. He.
• 8:10
  Bingo's closer to 200. $200 million.
• 8:13
  He needed congressional approval for these cuts to happen.
• 8:17
  The Republicans have the majority and the Republicans
• 8:20
  themselves didn't accept it. So if the world's richest man,
• 8:25
  arguably the world's smartest man goes into government with
• 8:31
  Harvard, you know, computer scientists, super geniuses going
• 8:36
  in there, plugging their systems into all forms of government,
• 8:41
  finding all of these inefficiencies in Social
• 8:43
  Security and, you know, not to mention USAID and all he was
• 8:49
  able to manage was 150 billion. It should tell you that the
• 8:55
  system within the system cannot be fixed.
• 8:59
  And everyone is starting to notice.
• 9:01
  And This is why Lynn Alden said nothing stops his train us
• 9:05
  Bitcoiners. We were calling this me and opt
• 9:08
  to give me and Opti credit, you know, tomorrow's Bitcoin use.
• 9:11
  Today here at Simply Bitcoin, we were calling this, we said,
• 9:15
  look, even with Elon going in, he's not fundamentally
• 9:20
  addressing the flaw in the system.
• 9:23
  The flaw in the system is the government's unique ability to
• 9:27
  create money out of thin air that everyone else has to work
• 9:31
  for and that inherently misaligns incentives.
• 9:35
  In fact, it creates government addicted to that free money.
• 9:39
  It creates people addicted to that free money.
• 9:42
  And what Jerome Powell is saying, and he's seen the
• 9:45
  writing on the wall. And to give him credit, unlike
• 9:47
  Christine Lagarde that's living in La La land, you know, she's
• 9:50
  like, CBDC's are the future. At least Jerome Powell's coming
• 9:54
  to terms with reality and saying, you know what, this is
• 9:57
  pretty much unsustainable. Like, we can't sustain this.
• 10:01
  That's why he's bringing up Bretton Woods.
• 10:03
  That's why he's basically bringing up the fact that
• 10:06
  there's going to be some type of reshuffling here, some type of
• 10:10
  reorganization. And I think it's going to happen
• 10:13
  within the next 5 to 10 years. You have very smart people like
• 10:17
  Arthur Hayes also made an amazing presentation at the
• 10:19
  Bitcoin conference. Larry Leopard had a podcast with
• 10:22
  him here in Miami Beach. He wrote a book called The Big
• 10:26
  Print. Arthur Hayes is basically
• 10:29
  saying, look, Bitcoin's going to hit $1,000,000 in the next 5
• 10:32
  years because they're going to print money.
• 10:34
  We are hearing news coming out of the Yahoo Finance article
• 10:38
  dropped a couple weeks ago, basically said that the Fed is
• 10:40
  quietly selling bonds, but there's no buyers.
• 10:45
  Who, Who do you think buys those bonds?
• 10:47
  When the Fed finds no buyers for those bonds?
• 10:49
  The Federal Reserve themselves, how are they able to afford
• 10:52
  those purchases? They print the money, right?
• 10:56
  So this is what's happening. There's a global realignment of
• 10:59
  the financial system, and you have to find yourself a
• 11:02
  lifeboat. And that lifeboat is Bitcoin.
• 11:06
  Make no mistake, the Titanic is sinking.
• 11:09
  They're running out of road to kick the can down the road.
• 11:12
  And yeah, I mean, like, it's just a matter of time, man.
• 11:16
  It's just a matter of time before they turn on the money
• 11:19
  printers to try to build themselves out.
• 11:22
  This is an inevitability. It's not a question of if they
• 11:25
  will do it, it's a question of when they will do it.
• 11:28
  I mean, pull up the M2 money supply chart, bro.
• 11:31
  Like this experiment started in 2008, coincidentally when
• 11:36
  Satoshi released Bitcoin in the genesis block.
• 11:40
  It says chancer on the brink of the second bailout for banks.
• 11:44
  Satoshi inherently knew that they were going to keep on
• 11:47
  printing. Opti's going to show the M2
• 11:49
  money, so you see that initial that.
• 11:51
  And this is just AUS, yeah? Let me make, let me make a
• 11:54
  smaller. There we go.
• 11:55
  Yeah. So you see back in 2010, 2008,
• 11:59
  that was the initial kind of splurge.
• 12:02
  Look at 2020 that was the pandemic that and then as you
• 12:07
  can see it kind of you know the we went into like kind of this
• 12:09
  like QT type of environment that's gone we're back to money
• 12:15
  printing again. Maybe it's not so you know over
• 12:18
  over the table, but they're addicted to this.
• 12:22
  You can't Lynn Alden's words are perfect.
• 12:25
  Nothing stops this train right. So Jerome Powell is basically
• 12:31
  saying the quiet part out loud and what you could do to protect
• 12:35
  yourself, right? I mean, you guys are Bitcoiners
• 12:38
  in this audience. So buy hard assets.
• 12:42
  I think the best one is obviously Bitcoin because of its
• 12:45
  absolute scarcity. But if you're sitting in assets
• 12:48
  in general, whether it's stocks, whether it's real estate,
• 12:52
  whether it's gold, it's all going to go up.
• 12:56
  And it it's value might not necessarily be going up, but
• 13:00
  because of inflation, it just balloons the asset prices.
• 13:05
  So if you're sitting in assets, when they inevitably start to
• 13:08
  print money again, your assets are going to, on paper at least,
• 13:14
  going to go up in value. Right now, of course, this is a
• 13:17
  Bitcoin show. Our favorite asset is Bitcoin
• 13:21
  because if it's physical characteristics, it's 21 million
• 13:24
  cap supply, it's your ability to custody with ease, your ability
• 13:29
  to transport it, your ability to send it without the necessity of
• 13:33
  a third party. So Bitcoin is the superior asset
• 13:37
  of all these assets that are going to benefit when they
• 13:40
  inevitably going to start to print money.
• 13:41
  But it what's really interesting is that Jerome Powell himself is
• 13:45
  basically saying, dude, we are so effed.
• 13:48
  Like that's what he's saying, that's what he's saying.
• 13:50
  Remember the the Bretton Woods agreement, this thing has been
• 13:53
  around since, you know, basically the end of World War
• 13:57
  2. The Fiat money experiment
• 14:00
  started in 1970. We're coming to an end of that
• 14:04
  said experiment. And if you are not protecting
• 14:07
  yourself, protecting yourself as an individual by storing your
• 14:11
  time, your energy and your work into hard assets, my favorite
• 14:17
  being Bitcoin, you're going to get absolutely wrecked when
• 14:21
  Lawrence Leppard's prediction, the inevitable big print, comes.
• 14:26
  And not only that, Nico, when you really listen to what Jay
• 14:30
  Powell said, and you said it very clearly, it's almost as if
• 14:34
  the system is rigged against us. It's almost as if, you know,
• 14:37
  there's been an argument whether the system is broken or, you
• 14:41
  know, Lennon says you can't stop this train.
• 14:43
  Larry Leppard frames it as the big print is coming.
• 14:47
  It's almost as if you can kind of judge the system by its
• 14:50
  fruits and you can say that maybe it was designed in this
• 14:54
  way to essentially, you know, take redistribute wealth from
• 14:58
  the masses to the upper class, or rather the wealthy elites.
• 15:02
  Well, as I said earlier, one of the Trump's went on CNBC this
• 15:07
  morning and even he is seeing what we're seeing.
• 15:11
  You have that. Clip I got it.
• 15:14
  He did these things. The reason we got into crypto
• 15:17
  and we're all in on crypto and we're doing American Bitcoin and
• 15:19
  we have World Liberty Finance and USD One was because there
• 15:23
  was a time, and probably I'd been on this show where there
• 15:26
  was, I could call any single banker in New York City, They'd
• 15:29
  pick up the phone, I'd be able to get a loan for whatever real
• 15:31
  estate project I was doing across the street.
• 15:34
  Then we got into politics and all of a sudden they wouldn't
• 15:36
  take your call. You couldn't get financing.
• 15:38
  We were debanked and what I realized and my brother realized
• 15:42
  because we were the recipients of every subpoena imaginable was
• 15:45
  that, you know what? We were actually just the top of
• 15:47
  this sort of pyramid scheme that we didn't realize we were a part
• 15:50
  of, that the financial system was totally undemocratized
• 15:53
  because we had a certain balance sheet, whatever, we could kind
• 15:56
  of do whatever we wanted. The regular guy was messed up.
• 15:58
  Now we were all of a sudden in the shoes of the regular guy
• 16:02
  that wouldn't be able to take advantage of the markets.
• 16:04
  And we said, what's the solution for that?
• 16:06
  The answer is crypto. You know, these decentralized
• 16:09
  platforms where you're not beholden to this, where you
• 16:11
  create efficiencies as a guy that did real estate, you know,
• 16:14
  why am I paying points in and out for title insurance that
• 16:16
  could be done on the blockchain? So we got into crypto not
• 16:19
  because it was like, hey, this is the next cool thing.
• 16:22
  We got into it out of necessity. We got into it because we
• 16:25
  understood just how quickly we could be turned off, even as an
• 16:28
  incredible developer from New York.
• 16:30
  I mean, I don't think anyone would argue that we didn't
• 16:33
  change the skylight of New York City, but that disappeared in an
• 16:36
  instant. I mean, we're getting sued by
• 16:39
  New York State AG half a billion dollar fees for paying back
• 16:41
  loans on time with interest. These aren't, you know, fair
• 16:46
  markets. There's no nothing egalitarian
• 16:48
  about any of that. So we actually as innovators, as
• 16:51
  people who understand these things, we went all, all in on a
• 16:54
  concept that makes total sense because we'd actually been the.
• 17:00
  OK. Now, first of all, guys, let's
• 17:03
  just ignore the whole blockchain and his overuse of the word
• 17:06
  crypto here. He's obviously talking about
• 17:08
  Bitcoin, but he said a few important things.
• 17:11
  First of all, we've been talking about, and it seems like no one
• 17:14
  cares, but the Fiat system, the traditional status quo system we
• 17:18
  are in is literally a Ponzi scheme built on, you know, this
• 17:22
  pyramid scheme of dollar debt. This is the world we live in.
• 17:26
  And the second thing that I found very interesting, it does
• 17:29
  remind me of Safdean's quote, which I am pretty sure is one of
• 17:33
  the things that got us, you know, got us in hot water over
• 17:36
  here at YouTube. So I won't say it again, but you
• 17:38
  will adopt Bitcoin because of necessity.
• 17:41
  And we're seeing that the world is waking up to the fact that
• 17:44
  they need Bitcoin. Look, we've had the Trump's go
• 17:46
  in. We know their big famous fight
• 17:49
  with Jay Powell. Now even Jay Powell is saying,
• 17:52
  hey, you know, there's something on the horizon here.
• 17:55
  There's some kind of sea change going on.
• 17:58
  And everyone out there is not acknowledging or rather asleep
• 18:02
  at the wheel that there's a tsunami ahead of them.
• 18:04
  And so look, This is why we try to do the show here.
• 18:07
  We want to get into, you know, where you guys are hanging out
• 18:09
  on YouTube on Rumble, people outside of just a Bitcoin space
• 18:13
  and basically tell you guys, the necessity is now you need to
• 18:17
  start stacking Bitcoin. You need to start saving in
• 18:20
  Bitcoin because who knows how long this can go on.
• 18:23
  They can kick the can down the road for a long time.
• 18:25
  But the necessity is now you need to get into a money that
• 18:29
  cannot be the base, that is censorship resistant, that is
• 18:33
  literally peer-to-peer and global because we're seeing a
• 18:36
  shake up in real time in the standard status quo monetary
• 18:42
  regime and everyone is telegraphing this exact same
• 18:45
  thing. Things are changing.
• 18:47
  And if you're stuck in the old system, you are stuck in the
• 18:50
  past and you need to upgrade your money today.
• 18:53
  A. 100% man, you need to upgrade your money.
• 18:56
  You need to upgrade your unit of account.
• 18:58
  You shouldn't be judging your net worth.
• 19:04
  You shouldn't be accounting your net worth or using dollars as
• 19:09
  your unit of account to see what your net worth is.
• 19:12
  You should be using Bitcoin as your unit of account to see what
• 19:16
  your net worth is. Your life will get better.
• 19:19
  Your life just gets better on a sound money standard.
• 19:24
  Everything gets progressively cheaper over time.
• 19:28
  Life gets less expensive. And this is the case.
• 19:31
  We're going to be dropping a, a, a, a simply Bitcoin IRL this
• 19:34
  Saturday with Jeff Booth. I hope you guys enjoy it, but
• 19:37
  this is the case that Jeff Booth has been making for many, many.
• 19:42
  What was that? It's a chat.
• 19:45
  It's a chat. This is the case that Jeff Booth
• 19:48
  has been making for like essentially like many, many
• 19:52
  years now that the world isn't, and this is what I want you guys
• 19:55
  to wrap your head around. You guys have to arm yourself
• 19:59
  with the truth, right? The world is inherently
• 20:02
  deflationary by default. So what do I mean by that?
• 20:06
  Productivity has increased, Technology has increased.
• 20:09
  The world has gotten wealthier. However, I think this is a good
• 20:13
  opportunity to put up pull up the website What the F happened
• 20:16
  in 1971. However, as a as a whole, as a
• 20:21
  society, we have not gotten collectively wealthier.
• 20:25
  So if you could pull that up Opti to show you guys, so like
• 20:31
  the case that Jeff Booth makes right, is that essentially if
• 20:39
  you are on a sound money standard, things should get
• 20:42
  progressively cheaper over time. That's the way that the world
• 20:47
  naturally should be functioning. That's the world that the that's
• 20:51
  the that's the way that the world should naturally work.
• 20:54
  But because of Fiat money, governments have been able to
• 20:58
  essentially manipulate the money to their advantage at the
• 21:03
  expense of their citizens, specifically the middle and
• 21:07
  lower classes. So here's a great example, like
• 21:09
  starting off with the first, the first chart, Opti, if you can go
• 21:12
  up, that's 1971, right? So as you could see, the
• 21:17
  productivity, which is what I was talking about, has increased
• 21:20
  by 246%, but compensation only went from 90% to 115%.
• 21:27
  If you keep going lower, we'll find other examples of that,
• 21:30
  right? It's the same thing, right?
• 21:33
  So real medium weekly earnings of full time workers has
• 21:37
  basically gone sideways and the real GDP per capita has gone
• 21:41
  through the roof. So keep going down.
• 21:44
  Again, income gains widely shared in early post war
• 21:48
  decades, but not since then. So again, the 95 percentile, the
• 21:52
  very wealthy that do have the means to save in assets continue
• 21:56
  to get wealthier, but everybody else, the middle and lower
• 22:00
  classes remain the same. So how in the hell since the
• 22:05
  1970s, Remember back in 1971, a computer wasn't a thing, an
• 22:11
  iPhone wasn't a thing, AI wasn't a thing.
• 22:14
  Look at all the productivity increases that we've had as a
• 22:17
  society and you're telling me that somehow you were able to
• 22:22
  afford a home back in the 1970s and you were able to actually
• 22:26
  make a living back in the 1970s and you were actually able to
• 22:30
  have single parent households where one parent stays at home
• 22:34
  and then the other one goes to work.
• 22:35
  And that today is inconceivable after all the technological
• 22:41
  increases. It, it's insane.
• 22:44
  What I'm making the case for is if you don't believe that
• 22:47
  theory, switch over to a Bitcoin standard.
• 22:51
  You'll start living that deflationary lifestyle today.
• 22:57
  Things will get progressively cheaper for you over time if you
• 23:01
  switch over to a Bitcoin standard.
• 23:04
  And again, this is not only a monetary switch that you have to
• 23:08
  make. This is a spiritual switch.
• 23:11
  This is an economic shift. This is a time shift.
• 23:14
  You're, you're essentially changing your operating system
• 23:17
  in your brain from a Fiat brain to a Bitcoin brain.
• 23:22
  And I, I'm telling you, it comes with a whole lot of hope, a
• 23:26
  whole lot of optimism about the future because now all of a
• 23:29
  sudden you're like, wow, I can't afford that apartment that I
• 23:33
  want to buy for my family and my kids in the future generation.
• 23:37
  I can't afford that car. I can't afford that vacation
• 23:40
  that I wanted to go on. But under a Fiat standard,
• 23:43
  listen, if you're not making more than 7, if you didn't get a
• 23:48
  7% increase in salary compared to the year before, you are
• 23:53
  making less. And this is what they don't take
• 23:56
  into account, right? Like let's be real here.
• 23:59
  This is what they don't take into account.
• 24:01
  However, if you've been saving in Bitcoin, The thing is
• 24:06
  everything is getting cheaper over time, everything.
• 24:11
  So in a five year time scale, whether it's the S&P, whether
• 24:14
  it's a house, whether could you pull up an image of like
• 24:17
  comparing like how housing prices have gone down.
• 24:23
  So like anything you could think of, if you've been saving in
• 24:28
  Bitcoin, that house has been getting cheaper in Bitcoin
• 24:33
  terms, eggs have been getting cheaper on Bitcoin terms.
• 24:37
  And that's the way that's a perfect image and that's the
• 24:40
  way, yeah, that's perfect. And that's the way that that's
• 24:44
  the way that that the world should work.
• 24:47
  This is the, this is the case that Jeff Booth has been making,
• 24:51
  right? This is the way that the world
• 24:53
  should work. The only reason that Bitcoin is
• 24:55
  able to pull this off is because of its decentralization is
• 25:00
  because of its immutability. It's because of its cap supply.
• 25:04
  So it doesn't allow the money to get manipulated and debased.
• 25:09
  Therefore, it actually allows you to save the function of
• 25:13
  money itself. We live in a world where you're
• 25:16
  forced to become a part time investor just to live, just to
• 25:22
  maintain your purchasing power. That is absurd.
• 25:25
  Look at that, look at that. So in 2017, it would cost you
• 25:28
  125 BTC to buy a house In 2020, what was this 20/22 at 2022?
• 25:36
  So it's even less now. 2022 cost you 20 Bitcoin.
• 25:40
  Now change that for dollars. Between 2017 and 2022, housing
• 25:46
  prices have doubled. So despite housing prices
• 25:49
  doubling in Fiat in Bitcoin terms, housing prices have
• 25:54
  literally been cut in by like a factor of 4, right?
• 25:59
  So switch your life to a Bitcoin standard.
• 26:01
  Life gets better, life gets cheaper, life gets easier to
• 26:05
  navigate like that's the reality of it.
• 26:08
  Anyways, guys smash the like button.
• 26:10
  We're at 139 likes right now on YouTube.
• 26:13
  If you guys are enjoying the show, help us break 200 likes.
• 26:16
  Also want to give a shout out to the Rumble live stream as well
• 26:19
  going in hard and of course the X live stream always going in
• 26:23
  hard as well. Guys, smash the like button
• 26:25
  really, really helps with the algos to push what we've been
• 26:29
  telling you. This message forward.
• 26:32
  Jerome Powell is admitting that we are entering the end stage of
• 26:37
  the Bretton Woods era, the end stage of Fiat.
• 26:40
  He himself is saying that the US monetary policy is
• 26:44
  unsustainable. Lynn Alden's making a
• 26:47
  presentation. Larry Laparde's writing books
• 26:49
  about it. Arthur Hayes is making
• 26:52
  presentations about it. I mean, some of the brightest
• 26:54
  minds, some of the smartest people are telling you the quiet
• 26:58
  part out loud. You have to choose as an
• 27:01
  individual whether you're going to take agency and action on
• 27:05
  that information from some of the brightest minds in the
• 27:08
  industry. Nothing stops this train
• 27:12
  anyways, before we move on to the next segment, I do want to
• 27:16
  give a very special shout out of course, to our lead sponsor.
• 27:20
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• 28:07
  simplybitcoin.com, get yourself some simply Bitcoin merch and
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  which we're going to be doing live for you guys right now.
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  Toss a coin into the wishing well, first person to scan it
• 28:19
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• 28:24
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• 28:30
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• 28:34
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  and every single toss you have an opportunity to win up to
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  That's a generous, it's a win win for everybody.
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  What are you waiting for? Go to bitcoinwell.com/simply
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  today. Anyways, guys, we have a hell of
• 28:58
  a show lined up for you guys. Me and Opti are going to be
• 29:01
  doing the shows in person in the flesh, and we got some special
• 29:05
  supply surprises for you guys in the next coming weeks.
• 29:08
  We're going to be talking about many, many things upcoming.
• 29:11
  We're going to be talking about. It's interesting.
• 29:14
  Again, another article, you know, again, these Bitcoin
• 29:18
  conferences are different. They've changed up these days.
• 29:21
  They're entering in the political sphere.
• 29:22
  These Bitcoin conferences used to have cypherpunks, used to
• 29:26
  have people that were just, you know, kind of like total anti
• 29:29
  state, like Eric Case on. And now we have, you know, a
• 29:32
  Fortune 500 CE OS. We have politicians from the top
• 29:36
  echelons of power. So it's a little bit different.
• 29:40
  Bitcoin is maturing. The Wells Fargo report that we
• 29:42
  read you guys yesterday, Bitcoin is becoming institutionalized.
• 29:46
  And also there was an article by the Las Vegas Sun which I
• 29:51
  thought was absolutely hilarious and it quoted Eric Kasson, it
• 29:54
  quoted CJ, it quoted myself. We're going to go through all of
• 29:57
  that and we're going to just kind of have like a recap of
• 29:59
  like where are we in Bitcoins history?
• 30:01
  Where is Bitcoin going to be 5 years from now?
• 30:04
  I think you guys are going to really enjoy that conversation.
• 30:06
  And then during the numbers segment, I have a very special
• 30:10
  video of you guys of Hester Pierce, the SEC commissioner,
• 30:15
  again basically saying, like, look, banks have the ability to
• 30:19
  custody Bitcoin baby. There's three things that
• 30:22
  Michael Saylor said needed to happen in order for Bitcoin to
• 30:25
  hit $5,000,000 per coin. He said the first thing is a
• 30:29
  change in the FASPI accounting rules.
• 30:31
  Second thing he says the approval of the spot Bitcoin
• 30:34
  ETFs. The third thing that he said was
• 30:36
  the ability for banks to custody Bitcoin.
• 30:39
  Under the previous administration, the Biden
• 30:41
  administration, they actively tried to sabotage the Bitcoin
• 30:45
  industry left and right. They tried to stop it, but with
• 30:49
  this current administration, he's opening up the door.
• 30:52
  He's saying, listen, we're going to leave you Bitcoiners alone.
• 30:54
  I mean, we had a sitting vice president make a speech at a
• 30:59
  Bitcoin conference. We are winning.
• 31:01
  We got Ross Ulbricht freed. We are winning.
• 31:05
  This is what winning feels like and we're just starting to win.
• 31:10
  This winning is non-stop. We got beat by 2 by 4
• 31:14
  metaphorically for the past 15 years.
• 31:17
  That's over now. We're in the driver's seat.
• 31:19
  If you're not in the room, you're not in the deal.
• 31:21
  We are in the room. This is what winning feels like.
• 31:24
  So act like winners, act victorious, but you got to stay
• 31:28
  on guard because the mission isn't accomplished yet.
• 31:32
  The final goal, the final goal of Bitcoiners is to get a
• 31:35
  president in the White House that wants to end the Fed.
• 31:38
  Anyways, ladies and gentlemen, we will be right back in just a
• 31:40
  second. We're going to hit the numbers.
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• 33:12
  today. All right, everybody, we are
• 33:18
  back and we're going to cover the numbers, ladies and
• 33:22
  gentlemen, and let's get to it. At the time of recording, the
• 33:26
  Bitcoin price is 106,808, a $106,020.00 block height 899,672
• 33:35
  sats per dollar 943 market cap 2.11 trillion Bitcoin versus
• 33:40
  gold market cap 8.89% percentage issued 94.63% decline from all
• 33:46
  time high -5.3% Realized monetary inflation .85%.
• 33:52
  Again, taking Fiat currencies to absolute school.
• 33:57
  I do want to play you guys this video of Hester Pierce.
• 34:00
  Hester Pierce is the SEC Commissioner.
• 34:03
  Let's check it out. What we're trying to do with
• 34:07
  eliminating SAB 121 is to say if you have experience in custody,
• 34:11
  you can come into this space. It's not to say that entities
• 34:17
  that are crypto native and want to provide custody that they
• 34:20
  can't do it, but it's really to say we want to have as broad a
• 34:22
  pool as possible of potential custodians.
• 34:25
  That's what's best for. So let's break down essentially
• 34:33
  the difference between SAB 121 and SAB 122 and the significance
• 34:40
  of it from the ability for institutions to custody Bitcoin.
• 34:44
  So last year and I was talking to Eric Weiss about this on a
• 34:48
  simply Bitcoin IRL and he actually believed that one of
• 34:50
  the big reasons that the Biden administration lost or better
• 34:55
  said, let me phrase that better. One of the big reasons as to why
• 35:00
  the Biden administration kind of fell out of favor with the
• 35:03
  Bitcoin and crypto industry was because the SAB 121 repeal
• 35:10
  passed the House and it passed the Senate.
• 35:13
  President Biden vetoed it. Maybe his auto pen did, but he
• 35:18
  vetoed it, right? So it passed the Senate, passed
• 35:22
  the House, and Biden was like, no, one of the first things that
• 35:26
  Trump did when he got in office was he repealed SAB 121.
• 35:32
  So what is SAB 121? SAB 121 essentially required
• 35:36
  entities holding crypto assets for others to report these
• 35:40
  holdings as balance sheet liabilities.
• 35:44
  Could you imagine that? So you're holding Bitcoin on
• 35:48
  behalf of an entity and if Bitcoin drops 3040%, you have to
• 35:56
  write on your balance sheet to reflect that drop, even though
• 36:02
  those aren't your assets, you're holding it on behalf of someone.
• 36:07
  And by the way, I can't confirm this for sure, but after
• 36:11
  experiencing Operation Choke .2 point O over the last three
• 36:14
  years and the essentially death by 1000 regulatory cuts type of
• 36:22
  strategy, I think this was on purpose, right?
• 36:26
  I think this is the type of regulation that is set up in a
• 36:29
  way where it wants you to fail or essentially makes it so
• 36:34
  difficult for you to navigate that environment.
• 36:38
  It deincentivizes institutions from adopting Bitcoin or a
• 36:43
  holding Bitcoin on behalf of their clients, right?
• 36:46
  So This is why this law was so important to be repealed.
• 36:49
  This is why Michael Saylor said this is one of the three things
• 36:52
  that essentially needed to happen in order for Bitcoin to
• 36:54
  reach $5,000,000 per coin. So it goes on to say this
• 36:57
  created significant financial constraints and hindered
• 37:00
  traditional financial institutions from entering the
• 37:03
  crypto custody space. So here is SAB 1122.
• 37:09
  So SAB 122, this bulletin issued in January of 2025 here in OPTI
• 37:17
  wants me to share the screen when I'm showing.
• 37:19
  So I will do that for OPTI now. I lost it.
• 37:23
  OK, here it is. So SAB 122, this bulletin issued
• 37:28
  in January 2025, of course the first month Trump you know, was
• 37:32
  inaugurated January 9th I think was the date rescind.
• 37:36
  SAB 121 provides new guidance for accounting obligations to
• 37:40
  safeguard crypto assets. It aligns crypto asset
• 37:43
  accounting with contingency principles, allowing entities to
• 37:47
  assess liabilities based on the probability and estimate ability
• 37:52
  of potential losses. Right, so the impact.
• 37:56
  The repeal of SAB 121 removes a married major barrier for
• 38:01
  traditional financial institutions to offer crypto
• 38:04
  custody services. It allows them to evaluate their
• 38:06
  risks using established accounting standards,
• 38:09
  potentially leading to greater integration of digital assets
• 38:13
  into the traditional financial system.
• 38:15
  Now, this is exactly what Elizabeth Warren didn't want to
• 38:18
  happen. Remember when Fidelity announced
• 38:22
  that they were essentially going to allow Bitcoin?
• 38:24
  They're going to allow their clients to buy Bitcoin for their
• 38:27
  401 KS? She personally hand wrote a note
• 38:32
  to Fidelity basically saying stop, I don't want you to do
• 38:35
  that. Now you have to think about what
• 38:37
  are the motivations behind this? I think the motivations behind
• 38:41
  this is they just don't want Bitcoin or digital assets as a
• 38:44
  whole, whether it's stable coins or altcoins, to be a part of the
• 38:49
  traditional financial system because they want a monopoly
• 38:52
  over money. I think it's, it's as simple, as
• 38:54
  as simple as that. I can't, I can't come up with
• 38:58
  another explanation. Now.
• 38:59
  Their explanation is consumer protection, right?
• 39:03
  My counter to that is basically saying what about consumer
• 39:07
  protection from inflation, right?
• 39:09
  I showed you guys at the beginning where what the F
• 39:13
  happened in 1971. I showed you guys the data.
• 39:16
  It's there. It's clear, right?
• 39:18
  If you are in the middle class or if you're in the lower class
• 39:22
  and if you want to get by you physic, you have not earned more
• 39:26
  money since the 1970s, even though productivity has
• 39:30
  increased by a factor of 2 and the very wealthy have gotten
• 39:35
  significantly wealthier. This is the concilionary effect.
• 39:39
  This is Fiat for you. What about consumer protection
• 39:42
  from inflation? What about consumer protection
• 39:44
  from Fiat? So when you are against Bitcoin
• 39:49
  being integrated into the traditional financial system,
• 39:52
  what you are telling me who is well versed in all of this and
• 39:58
  Opti's well versed in all of this, I think all Bitcoiners are
• 40:00
  well versed in all of this is you don't want people, you don't
• 40:05
  want people to have the ability to save.
• 40:10
  And I'm telling you, that is evil.
• 40:13
  That is evil. You're taking away their hope.
• 40:15
  You're taking away their dignity.
• 40:17
  You're taking away their humanity.
• 40:21
  Really. So, yeah, man, like I, I, I'm
• 40:24
  really glad that this is happening.
• 40:26
  We got a huge victory in Poland with the pro Bitcoin president,
• 40:30
  which was awesome. We're getting pro.
• 40:33
  We got Nigel Farage that spoke at the Bitcoin conference.
• 40:38
  So yes, I mean winning across the board, but I want you guys
• 40:42
  to stay focused. I want you guys to pay attention
• 40:45
  and realize where we are in the movie.
• 40:48
  Fiat politics still matter. Voting in the traditional sense
• 40:51
  still matters. Of course, the most important
• 40:53
  vote you can make is buying Bitcoin, earning Bitcoin, mining
• 40:55
  Bitcoin, and putting that Bitcoin into self custody.
• 40:58
  But keep your eye on the ball. 2026.
• 41:01
  We got midterms coming on and I don't care if it's a Republican
• 41:05
  or Democrat, but we want pro Bitcoin politicians in office
• 41:11
  and we want this worldwide. We want this is a grassroots
• 41:16
  movement. Remember, I've said this, I've
• 41:18
  tweeted this many times. Governments think they can
• 41:21
  regulate Bitcoin or governments think they can Co-op Bitcoin.
• 41:25
  But in reality it's going to be Bitcoin that co-ops governments.
• 41:27
  It's going to be Bitcoin that regulates governments.
• 41:29
  It's going to be Bitcoin that provides a check.
• 41:33
  It it, it gives power to the people by giving the people the
• 41:37
  ability to save without the fear of their currency, of their
• 41:42
  energy, of their value, of their time being debased.
• 41:46
  Opti. Yeah, well, good rant.
• 41:49
  Good, good Nico Jones rant to start off a Tuesday.
• 41:53
  But Hester Pierce, I forget what people were calling her.
• 41:56
  They call her like like the godmother or grandmother of
• 42:01
  crypto or, or they have like a name for her.
• 42:03
  I forget what they call her. It's something like grandmother
• 42:08
  or crypto or or something like that.
• 42:10
  I don't know. I I I forget what it is but you
• 42:12
  could look it up. I think Hester Pierce is the
• 42:14
  goat. Yeah, yeah, that's basically
• 42:15
  what I was going to say. And Hester Pierce, I think is
• 42:19
  she's obviously, if you guys don't know, she is, she's been a
• 42:21
  long time Bitcoin slash crypto advocate.
• 42:24
  She's in a very powerful position and she seems very
• 42:27
  friendly to the industry and, and actually has a favorable
• 42:31
  view around Bitcoin, which I think is a, you know, a breath
• 42:35
  of fresh air here. And I saw a tweet this morning
• 42:37
  of Frank Korba. If you guys don't know Frank
• 42:39
  Korba is he is over at Bitcoin magazine.
• 42:42
  He's literally has a pass to sit in the White House now as a
• 42:44
  journalist or correspondent. And I guess there was a pub key
• 42:48
  event either last night or, you know, over the weekend or
• 42:52
  something like that. And Hester Pierce was there and
• 42:54
  she had a talk and she was talking to Bit corners.
• 42:56
  And basically Frank Korva went up to her and was just like, you
• 42:59
  know, I talked to Hester Pierce and I was telling her that one
• 43:02
  of the most important things she could do was basically allowing
• 43:06
  in kind of redemptions of ETF. And there's some back and forth
• 43:09
  there, but by the end of the conversation, she was like, you
• 43:12
  know what, like I'll take this into consideration and I will
• 43:15
  think about it. It.
• 43:16
  It's obviously a vague response, but I think it's a totally
• 43:19
  different view from what we've heard from other
• 43:21
  administrations. You know, whether it's Gary
• 43:23
  Genzer, who we thought was a Bitcoin maxi, even though I
• 43:26
  truly call him a a Bitcoin maxi, what we see from the Biden
• 43:28
  administration, what we've seen from Elizabeth Warrens antique
• 43:31
  crypto army, they don't listen to what we're saying.
• 43:34
  And now that we're in the room now, they are starting to listen
• 43:38
  to us. So whether this is just
• 43:40
  politicians pandering or, you know, people in institutional
• 43:43
  powers pandering to Bitcoin, I think we are starting to turn a
• 43:47
  new leaf here where they have to acknowledge what we're doing.
• 43:50
  We're no longer, you know, a tiny asset here.
• 43:53
  It is. It is a significant player on
• 43:55
  the macro stage. And so the fact that we have bit
• 43:58
  corners in a position where they will listen to what we're
• 44:01
  saying, they will listen to, you know, the quote, industry
• 44:04
  experts. I think this is a good thing and
• 44:06
  something that we've never seen before because for a long time,
• 44:10
  they were just basically like, yeah, yeah.
• 44:12
  Like, shut up, kid. Like, you don't know what's
• 44:13
  going on. You don't understand the game
• 44:15
  being played. And now we basic.
• 44:17
  Whoa, oh, man, I don't know if you guys heard that.
• 44:22
  Mika's blowing me up over here. I lost my train of thought.
• 44:26
  And now And now we've gotten to a point where they're listening
• 44:29
  to us. And I think this is going to
• 44:31
  fundamentally change and alter the the trajectory of Bitcoin
• 44:34
  around the world because what America does, every other
• 44:38
  country will follow. The ripples are starting.
• 44:40
  And I think, you know, whether this plays out sooner than later
• 44:43
  or later than sooner, things are changing in real time and you
• 44:47
  just love to see it. Yeah, 100%, man.
• 44:50
  And and again guys, we are winning.
• 44:53
  Let's keep on the pressure. We got momentum, right.
• 44:56
  Let's, let's, let's, let's not forget, let's not, let's not
• 45:00
  take our eye off the ball. We're winning.
• 45:03
  We got to keep the pressure. This is how we're going to win
• 45:06
  anyways, guys, we still have a hell of a show lined up for you
• 45:09
  guys. During the news segment, we're
• 45:11
  going to be talking about a lot of the things that you guys are
• 45:13
  talking about. Oh yeah, there it is, Crypto
• 45:15
  Mom. Thank you, Kudus.
• 45:16
  In the, in the comments, basically saying like, look like
• 45:20
  like Bitcoin has become MAGA, you know, like it, it's
• 45:23
  basically lost its cypher, cypherpunk roots.
• 45:26
  And I think it's a great topic to talk about.
• 45:29
  So we're going to be talking about that during the news
• 45:31
  segment, So stay tuned. And then during the culture
• 45:34
  segment, Opti's got something special lined up for you guys.
• 45:37
  So we're going to be right back in just a second.
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• 48:49
  Anyways, guys, let's get into today's news segment, starting
• 48:53
  off with this Wall Street Journal article.
• 48:56
  It's behind a play wall, but I think the the headline is just
• 48:59
  enough. It's it's it's good enough to
• 49:01
  kind of just set the tone. The Wall Street Journal Bitcoin
• 49:05
  goes all in on MAGA shedding its anti government slant.
• 49:10
  Despite wins under Trump, some crypto factions are wary of
• 49:15
  politicizing industry Las Vegas extravaganza check this out
• 49:20
  becomes a right wing rally. Interesting interesting.
• 49:26
  So moving on to this next article is kind of does a little
• 49:30
  bit of a deep dive from the Las Vegas Suns Bitcoin Bros mistrust
• 49:35
  of government lingers even after GOP's embrace.
• 49:40
  It goes on to say make America great again hats and crypto
• 49:44
  themed variations of the slogan were everywhere among the 30,000
• 49:48
  attendees at last week's Bitcoin conference in Vegas 1 booth
• 49:53
  featured a life-size cut out of President Donald Trump bloodied
• 49:57
  from an assassination attempt. But instead of raising his first
• 50:01
  in defiance, he gripped a physical Bitcoin.
• 50:04
  And each time Vice President JD Vance discussed a new Trump
• 50:07
  administration's policy during his keynote address, the
• 50:11
  audience erupted and barely contained excitement.
• 50:14
  The scene suggested Trump and the Republican Party have
• 50:17
  successfully courted the cryptocurrency community, whose
• 50:21
  advocates poured over $200 million into the 2024
• 50:24
  presidential campaign and are already witnessing returns on
• 50:28
  their political investment. Gary Gensler, the former SEC
• 50:32
  chair who garnered widespread animosity from the
• 50:34
  cryptocurrency community for the agency's increase enforcement,
• 50:38
  stepped down in January. And to end regulatory regulation
• 50:42
  by prosecution, the Department of Justice shut down its
• 50:45
  cryptocurrency enforcement team in April.
• 50:48
  But not everyone walking the halls of the Venetian Convention
• 50:51
  and Expo Center last week was pleased to see so many
• 50:54
  Republican politicians like US Senator Jim Justice of West
• 50:58
  Virginia and and Cynthia Lummis of Wyoming taking center stage
• 51:03
  at the conference. Bitcoin's anti establishment
• 51:06
  origins clash with the reality that the crypto, that the
• 51:09
  cryptocurrency had become part of the very system it once
• 51:12
  opposed. So I like, let's talk about
• 51:16
  that, right? So here I'm gonna highlight it
• 51:20
  for you guys. So you guys could it's a very
• 51:22
  interesting conversation. I'm glad we're talking about
• 51:24
  this. When Opti and I initially
• 51:28
  brought this up during the previous election, we got a lot
• 51:32
  of crap for it. Like we were basically saying
• 51:38
  like people were basically saying like, look like you guys
• 51:41
  are sell outs. Like, you know, why are you
• 51:44
  talking about politics? Why are you talking about Trump?
• 51:47
  Like why are you talking about this?
• 51:48
  Like what are you guys doing? This is a Bitcoin show and the
• 51:52
  case that we are making for you guys is if we want Ross free,
• 51:58
  you have to throw your political, you have to throw
• 52:00
  your hat in the ring. If you don't want to get
• 52:06
  persecuted, regulate from a regulatory perspective, you have
• 52:11
  to be in the room while the deal is being made.
• 52:14
  So you have two choices. You either choose to pull an
• 52:18
  ostrich and pull put your head in the sand metaphorically and
• 52:23
  just pretend nothing's there, or you continue bouncing from
• 52:26
  jurisdiction to jurisdiction, or you plant a flag and you have
• 52:30
  pro Bitcoin politicians in office that are representing
• 52:37
  your interests. That's the whole point of a
• 52:39
  representative democracy, which is the United States and most
• 52:42
  countries around the world are democracies at this point.
• 52:46
  So unfortunately, you really have a choice between two.
• 52:50
  Do you want a pro Bitcoin person in the position of power or do
• 52:55
  you not want to pro Bitcoin person in the position of power?
• 52:57
  And to say otherwise, to say that it doesn't matter is
• 53:03
  completely naive. An example of that is El
• 53:08
  Salvador. I mean, you had a country where
• 53:11
  essentially it was, you know, one of the most dangerous
• 53:15
  countries on the face of the planet and they got a pro
• 53:18
  Bitcoin president in the in you know that in the presidency,
• 53:24
  they made Bitcoin legal tender and it became one of the safest
• 53:26
  countries on the face of the planet.
• 53:29
  So like we always talk about the separation of money and say we
• 53:33
  always talk about that. We always talk about how we want
• 53:37
  to give back power back to the people in the way that you do.
• 53:40
  That is by the people opting out into a money that can't be
• 53:43
  debased. We always talk about that
• 53:45
  subject. The way that you do that is by
• 53:51
  increments, right? It's by moving the Overton
• 53:54
  window. Four years ago, if I told you
• 53:56
  there was going to be a pro Bitcoin president in the White
• 53:59
  House, you would have laughed me out of the room.
• 54:00
  You just said that's not going to happen, that's impossible,
• 54:02
  That's not true. It happened and now you have a
• 54:07
  pro Bitcoin president whose family is buying Bitcoin.
• 54:12
  He's indicating that he has the intention to create a strategic
• 54:16
  Bitcoin reserve and accumulate more Bitcoin in a budget neutral
• 54:19
  fashion. Is that better or worse for
• 54:23
  Bitcoin? It's better from a number go up
• 54:26
  perspective. It's better from a regulatory
• 54:28
  perspective. Is it better from a
• 54:30
  revolutionary perspective? No, because the revolution is
• 54:33
  people, individuals taking Bitcoin into self custody.
• 54:36
  That's how actually things change.
• 54:38
  But it's not black and white, it's Gray, and there's full of
• 54:43
  nuance. And just to kind of take this
• 54:45
  attitude where like, the system is so broken, I just don't feel
• 54:48
  like participating. If we all took that attitude,
• 54:52
  Ross would still be in prison right now.
• 54:55
  So just something to keep in mind.
• 54:56
  Operation Choke .2 Point O would still keep going.
• 54:59
  So anyways, it goes on to say Eric Kasson took a hit of his
• 55:04
  vape on the conference secondary stage.
• 55:06
  Hours after Vance finished speaking, the panel's moderator
• 55:10
  asked him what he thought of the state.
• 55:13
  And he goes on to say all of this is true.
• 55:15
  Bitcoin works without the state, he said to the around 100
• 55:18
  attendees attend inherently listening quote.
• 55:21
  You can own Bitcoin today and exit from this establishment
• 55:25
  that that's designed to steal from you and redistribute that
• 55:28
  money towards war and horror. That is not a hyperbolic
• 55:33
  statement. When they print money, that's a
• 55:36
  that's a wealth redistribution mechanism.
• 55:39
  Why do you think there's endless wars?
• 55:42
  In the Middle Ages, when the king ran out of gold, the war
• 55:45
  would end. When you have a money printer,
• 55:48
  you can continuously fund that war till the end of time, right?
• 55:53
  That wasn't a unique opinion amongst his fellow panelists.
• 55:57
  An OG Bitcoiner on the community's podcast circuit who
• 56:00
  goes by American Huddle said that there's a real risk that
• 56:03
  Bitcoin could lose its status as freedom money the more it cozies
• 56:07
  up to the government. And Bruce Fenton, a New
• 56:10
  Hampshire Bitcoin investor with 125,000 followers on X, said
• 56:14
  politicians need us more than we need them.
• 56:17
  I think that's something else to keep in mind.
• 56:19
  Remember, do you think Trump did this out of the kindness of his
• 56:24
  heart? Do you think these countries are
• 56:26
  changing their stance on Bitcoin out of the kindness of their
• 56:28
  heart? The fact that Bitcoin that that
• 56:32
  Trump campaign towards Bitcoiners is a testament to the
• 56:39
  power of our movement. He needed the votes and we gave
• 56:43
  him the votes because he came through.
• 56:45
  That's the whole point. That's how a representative
• 56:47
  democracy works, right? It goes on to say we live in a
• 56:51
  state worshipping society and you hear people even at events
• 56:54
  like this. Oh boy, the Under Secretary of
• 56:57
  this, the elected official here, who cares?
• 56:59
  Fence and ask the crowd we should refuse meetings with
• 57:02
  them. We do not need these people.
• 57:04
  I disagree with that, by the way.
• 57:05
  I think there's nuance. There's Gray areas, right?
• 57:09
  There's there's, there's President Trump, JD Vance, the
• 57:13
  Bitcoin senator, Senator Cynthia Lummis.
• 57:16
  I think they've done amazing things for the industry and for
• 57:20
  Bitcoin as a whole from a regulatory perspective.
• 57:23
  So I disagree with that statement anyways.
• 57:25
  It goes on to say here, the community's distrust of the
• 57:32
  government goes back to how the technology behind Bitcoin works,
• 57:36
  said Nico Moran, host of the daily YouTube show Simply
• 57:39
  Bitcoin. The original white paper for
• 57:41
  Bitcoin set out to create a transaction transaction system
• 57:44
  between two people that didn't need a trusted third party, and
• 57:48
  Moran said one of the selling points is being able to use
• 57:50
  money the government can't access.
• 57:52
  Moran added that historically the community has been less
• 57:55
  interested in politics, though that changed under President Joe
• 57:59
  Biden. Bitcoiners were forced at the
• 58:01
  throw their hat into the ring due to aggressive enforcement
• 58:04
  under Biden's tenure and despite Trump delivering on his pro
• 58:08
  crypto promises, Moran said most of the community does not like
• 58:12
  the industry cozying up to government officials.
• 58:15
  Even still, sometimes you have to play the game, which is what
• 58:18
  I've been telling you guys for months now.
• 58:19
  If you're not in the room, you're not in the deal.
• 58:22
  And we're not, we were not in the room in the sea for a very
• 58:24
  long time. We're in the room now.
• 58:27
  I think Bitcoin score is incorruptible, and I think it's
• 58:30
  always going to have this leave me alone type of mentality.
• 58:34
  But the proudly counterculture Bitcoiners walking around the
• 58:37
  Venetian have baggage of their own that may limit their ability
• 58:40
  to go mainstream. I disagree with that part, but
• 58:43
  you guys get the general gist of it.
• 58:45
  Yes, we're going mainstream without a shadow of a doubt.
• 58:49
  Yes, the institutions are here without a doubt.
• 58:52
  Without a shadow of a doubt. Yes, politicians are getting
• 58:57
  involved. Regulations are being talked
• 59:00
  about. Bitcoin Act, the approval of two
• 59:03
  strategic Bitcoin reserves in Texas and New Hampshire.
• 59:07
  These things are all happening. But Jeff, Jeff Booth's quote
• 59:10
  comes to mind. With Bitcoin, you have to get OK
• 59:14
  with even your worst enemies using the technology.
• 59:20
  That's how it works. That's how it is.
• 59:23
  Bitcoin is for anyone, and you have to get used to it.
• 59:27
  That's the reality, right? So look, we have two choices.
• 59:31
  We either choose to get sit on the sideline and just pretend
• 59:35
  politics don't matter. Or we choose to get involved and
• 59:40
  we choose to get our interests pushed forward and protected.
• 59:46
  As Bitcoiners, we have the influence, we continue to get
• 59:49
  wealthier. We have a voting, we have a
• 59:52
  voting demographic block. Why not use that to our
• 59:57
  advantage? I think we all want to move to
• 1:00:00
  the world of the sovereign individual, where politics don't
• 1:00:02
  matter because the state no longer has the ability to create
• 1:00:06
  money out of thin air. I think we all want that future.
• 1:00:09
  We want a future without central banking.
• 1:00:11
  I think we all want that. But there's steps and there's a
• 1:00:15
  process and you have to play the game in order to get there, and
• 1:00:20
  I think that's the tough pill that Bitcoiners are going to
• 1:00:23
  have to swallow. Opti.
• 1:00:26
  Yeah, well, I think you guys know me by now.
• 1:00:29
  I I do. I do fall more on the lines of
• 1:00:31
  the Eric case on fuck the state kind of vibes here.
• 1:00:35
  But as the saying goes, you know, you may not be interested
• 1:00:38
  in politics, but politics is interested in you.
• 1:00:41
  And if you're even semi awake at this point, you understand
• 1:00:46
  politics does affect our lives. And so I don't, I'm, I'm not
• 1:00:49
  against Bitcoin Co opting both sides of the aisles to get our,
• 1:00:53
  you know, what we want done. I want to, I want to say this Co
• 1:00:57
  opting both sides of the aisle democratically right through the
• 1:01:00
  voting. Yeah, yeah, yeah, by incentives.
• 1:01:01
  By incentives, basically. Like I, I'm okay with using any
• 1:01:05
  part of the aisle to further facilitate what we want to
• 1:01:08
  happen, obviously in a legally democratic, you know, Republic,
• 1:01:13
  constitutional Republic kind of way.
• 1:01:16
  I really do believe in the incentives of Bitcoin and that
• 1:01:19
  once you align yourself to the incentives of Bitcoin, then it
• 1:01:22
  really does fundamentally rewire your brain and rewire your point
• 1:01:25
  of view. And I think this is going to
• 1:01:27
  also happen on the political layer as well.
• 1:01:30
  Like, look, love or hate the Trump's, look, it's what
• 1:01:33
  happened to the kids, if anyone there.
• 1:01:36
  And they even said it themselves, you know, like
• 1:01:38
  they're not just here for a fad. They understood the necessity of
• 1:01:42
  Bitcoin. And now they're fundamentally
• 1:01:44
  trying to grok what's going on here and of course, be an
• 1:01:47
  advocate for this because one, of course they're incentivized
• 1:01:50
  to do that. And two, they see the need.
• 1:01:52
  They've realized that, hey, look, if I don't want what
• 1:01:55
  happens to me and my family, I need to adopt Bitcoin and then
• 1:01:59
  further show that to more people.
• 1:02:01
  And so, well, again, Nico's more of a one issue voter on this.
• 1:02:04
  I, you know, you guys know my takes on, on voting and stuff,
• 1:02:07
  but I think if any one of the aisle is for pro Bitcoin stuff
• 1:02:12
  and they, they're actively and obviously verify that they
• 1:02:16
  really are Bitcoiners, then I think we should be able to use
• 1:02:19
  the political means as much as possible to get Bitcoin through
• 1:02:22
  the door. And as we've seen, this has had
• 1:02:24
  very clear and immediate consequences in regards to this
• 1:02:28
  election. So yeah, the Wall Street Journal
• 1:02:30
  is taking a, you know, a slanted bias take on what's going on
• 1:02:35
  here because, you know, David Bailey and his, what was it SPAC
• 1:02:40
  or C PAC? They invested a lot of money
• 1:02:44
  into the Trump administration as we saw, you know, Trump came out
• 1:02:48
  pro Bitcoin, the Harris campaign were obviously more pro CBDCS.
• 1:02:53
  And it's actively and again, very quickly made an effect on
• 1:02:58
  what's going on here. And that's not just for the US.
• 1:03:01
  This is this is international at this point, like we talked about
• 1:03:04
  it yesterday, Napoleon just elected a pro Bitcoin president.
• 1:03:08
  We're seeing China change its tune around Bitcoin.
• 1:03:10
  We're seeing they're using Taiwan as a proxy.
• 1:03:12
  We're seeing Russia go into bit bonds and yesterday or rather
• 1:03:16
  maybe this morning we saw Korea elect a president that is also
• 1:03:20
  pro Bitcoin. This is the wave and this is the
• 1:03:23
  trend. I think we've said it on the
• 1:03:25
  show for a long time that if you're not pro Bitcoin at this
• 1:03:28
  point, or maybe this is just the beginning of it, but if in the
• 1:03:31
  future you want to run for politics, I don't know why you
• 1:03:34
  would want to. But if if you do have that
• 1:03:37
  ambition, you're going to have to be pro Bitcoin.
• 1:03:40
  And we're seeing this play out in real time.
• 1:03:42
  Like we can say Bitcoin is apolitical, but the most
• 1:03:45
  political movement in the world is obviously an apolitical
• 1:03:49
  money. And so I don't think it's above
• 1:03:51
  what Bitcoiners want to do is to essentially use the system, use
• 1:03:56
  the beast as it is and have Bitcoin be a Trojan horse and
• 1:04:00
  get what we all want to see in the future.
• 1:04:02
  It's not going to be perfect. I know a lot of ideological
• 1:04:05
  Bitcoiners don't like how it's happening because it's, it's not
• 1:04:08
  happening exactly as they, you know, foresaw it happen.
• 1:04:12
  But I think it's happening as it should be.
• 1:04:14
  And in the future, I'm pretty sure the Bitcoin future, the
• 1:04:17
  orange future that we're talking about is going to happen with or
• 1:04:21
  without these politicians. But if we have them on our side,
• 1:04:23
  I think it'll be a lot easier. And of course, if they get off
• 1:04:26
  our backs, it's going to be a lot easier for us individually.
• 1:04:28
  So in the end, all roads lead to Bitcoin.
• 1:04:30
  We're going to win. I I'm OK with it.
• 1:04:33
  Absolutely all roads lead to Bitcoin.
• 1:04:36
  Alright everybody, we're going to hit the culture segment.
• 1:04:38
  We have tons to cover. We will be right back in just
• 1:04:42
  one second. I want to give a shout out to
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  All right, everybody, we are back and Opti is launching a
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  paid. Group you can't see this.
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  I'm totally not you. Can.
• 1:06:57
  Go to actually here is my free paid group advice that if you
• 1:07:02
  want to pay me, you know what? I don't know what the paid group
• 1:07:04
  prices are $1000 a month for. It's literally just smashed by
• 1:07:08
  Bitcoin. Every time you have Fiat there
• 1:07:10
  is your paid group advice. No, this is kind of a meme.
• 1:07:14
  And I see everyone in the chat and I actually saw a comment
• 1:07:17
  earlier and someone's like, with all this good news, why isn't
• 1:07:19
  the price going up? And this is probably the
• 1:07:21
  question everyone's asking right now.
• 1:07:23
  It's like we're getting literally the most bullish news
• 1:07:26
  cycle ever and supposedly some of the biggest buys in Bitcoin,
• 1:07:31
  but the price is still kind of going sideways.
• 1:07:34
  What's going on? And Jason Williams, AKA going
• 1:07:38
  parabolic on Twitter, he did this funny tweet, this one, he
• 1:07:40
  goes, Bitcoin is the only market in history where buyers come in,
• 1:07:43
  buy 1 billion, $10 worth of the asset and the price goes down.
• 1:07:47
  That's how markets work, right, Right, guys, isn't this what's
• 1:07:51
  going on? And, and essentially the, the
• 1:07:53
  joke here is with all the amount of buys that we're hearing from
• 1:07:57
  Metaplanet, MicroStrategy, 21 Capital, you know, potentially
• 1:08:02
  nation states buying, we're having hundreds of Bitcoin
• 1:08:06
  treasury companies pop up everywhere.
• 1:08:08
  They're scooping up and BlackRock, you know, they're
• 1:08:11
  scooping up literally more Bitcoin than a year supply of
• 1:08:15
  Bitcoin that will be mined throughout the year.
• 1:08:18
  Like what is going on? The, the ETF is the most
• 1:08:20
  successful ETF launch ever. They're holding, I don't know,
• 1:08:24
  hundreds of thousands. I think it might even actually
• 1:08:26
  it's millions of Bitcoin at this point.
• 1:08:28
  We know MicroStrategy themselves hold half a million Bitcoin and
• 1:08:32
  there's new entrance every single day.
• 1:08:34
  And you think with all of this buy pressure, something would
• 1:08:37
  happen and the price of Bitcoin would go up?
• 1:08:40
  Well, yes and no. I think when you just think of
• 1:08:44
  simple supply demand economics, there's probably a lot of OG
• 1:08:49
  holders that are selling their Bitcoin or rather nation states
• 1:08:53
  dumping their Bitcoin holdings. We still have not heard back
• 1:08:56
  with what is going on with the US Bitcoin.
• 1:08:59
  Show me them coins bro. Where is the audit is the big
• 1:09:03
  question. Anyways, I say all that to kind
• 1:09:06
  of breakdown for everyone, this great article from Coin
• 1:09:10
  Telegraph. Now we all know Coin Telegraph,
• 1:09:12
  it's a little shit corner, but they did do a good article on
• 1:09:15
  what moves the Bitcoin price. And I'm not going to read the
• 1:09:18
  whole thing. I'm just going to kind of break
• 1:09:19
  it down, but I'll read the conclusion, which I think is the
• 1:09:22
  whole signal here for every one of us.
• 1:09:24
  So the title is who really controls Bitcoin price in 2025?
• 1:09:28
  Whales, devs or governments? Explain.
• 1:09:31
  And then it goes into how do the whales influence Bitcoin, you
• 1:09:34
  know, market makers, etcetera. It's talking about the number of
• 1:09:37
  wallets holding 1000 plus coins, whether they're Ogs or whether
• 1:09:41
  they're exchanges and and hedge funds.
• 1:09:44
  But there is an interesting number here.
• 1:09:47
  And of course, as I mentioned, BlackRock and strategy alone
• 1:09:51
  hold a shit ton of Bitcoin. Forgive me, I know this a family
• 1:09:55
  friendly show, but together the two firms control an estimated
• 1:10:00
  6% of the total Bitcoin supply, a staggering figure in an
• 1:10:03
  ecosystem with fixed issuance and increasingly thin exchange
• 1:10:07
  liquidity. Now, the point that I think a
• 1:10:10
  lot of Bitcoiners, or rather even us who've been here for a
• 1:10:13
  long time, we always hear about the whales, you know, oh, it's
• 1:10:16
  the whales suppressing the price.
• 1:10:17
  Oh, it's the whales pumping the price.
• 1:10:19
  Well, from their data points, it's starting to show that
• 1:10:22
  there's essentially two different whales being played
• 1:10:25
  out. We have the OG Bitcoin whales
• 1:10:27
  that one to accumulate Bitcoin for the long term and we
• 1:10:29
  seemingly have the new institutional interest here from
• 1:10:32
  the hedge funds that are looking for more short term capital and
• 1:10:36
  it goes. Whales aren't necessarily
• 1:10:38
  hodlers either. They buy at scale, take profits
• 1:10:41
  on strength and often offload right when retail piles in.
• 1:10:44
  Since the start of 2025, several major corrections have followed
• 1:10:48
  large inflows to exchanges from whale wallets, a pattern on
• 1:10:52
  chain analysts flagged as early as February.
• 1:10:54
  On the flip side, stretches of dormancy and whale wallets have
• 1:10:57
  coincided with upward price momentum, including bitcoins
• 1:11:01
  climb past 110,000. That said, not all whales are
• 1:11:04
  short term traders. Data from Crypto Quaint shows
• 1:11:07
  that long standing whale addresses have realized just 675
• 1:11:12
  or $79 million in profits since April, while new or large
• 1:11:15
  holders, largely likely hedge funds or high net worth
• 1:11:19
  individuals, have taken over $3.2 billion off the table in
• 1:11:23
  the same period. This suggests A bifurcation
• 1:11:26
  early wears whales here to be consolidating for the long haul
• 1:11:29
  while new entrants are quicker to cash out.
• 1:11:32
  And I think we've been seeing this in the data ever since the
• 1:11:35
  institutions have coming the, you know, high frequency
• 1:11:37
  traders. We have seen some interesting
• 1:11:39
  stuff on the chart where it's kind of breaking from old
• 1:11:42
  patterns, which I I think again is going into this idea of like
• 1:11:46
  maybe this time is different. Maybe we're going to get a
• 1:11:48
  longer bull, bull, bull cycle and a bull cycle.
• 1:11:52
  Hold on, I'm choking over here guys.
• 1:11:55
  Whale behavior may be nuanced, but the impact remains blunt.
• 1:11:58
  Whether they're accumulating or distributing, these entities
• 1:12:00
  continue to play an outside's role in setting the tone and
• 1:12:03
  direction of bitcoins price action.
• 1:12:05
  Obviously if you're familiar with markets, you know, the
• 1:12:08
  market makers are really in control or if you're more, you
• 1:12:12
  know, tinfoil have bitcoiners, you're probably thinking the
• 1:12:14
  exchanges are trading against you and those are probably the
• 1:12:17
  whales. This is why we don't recommend
• 1:12:19
  you guys trade. Next is this idea of can the
• 1:12:21
  developers influence the Bitcoin price now indirectly they can
• 1:12:26
  essentially by, you know, implementing new upgrades.
• 1:12:29
  We haven't seen many in in the past few years.
• 1:12:32
  There's a lot of talk of some new upgrades.
• 1:12:34
  There's even been talks about hard forks, which I think
• 1:12:36
  probably is off the table. But TLDR, the debs don't really
• 1:12:41
  influence the Bitcoin price. Yes, there is some hype and
• 1:12:43
  there is some correlation with new upgrades to Bitcoin and the
• 1:12:46
  price going up. But essentially, you know, they
• 1:12:49
  they can make it look better, but they're not the ones really
• 1:12:51
  driving the price. If anything, it's the whales.
• 1:12:53
  Now moving forward, the second or third one is how governments
• 1:12:57
  don't control Bitcoin but still move the market.
• 1:13:00
  Now this may change because we do have a lot of rumors or a lot
• 1:13:04
  of talk about nation states buying Bitcoin.
• 1:13:06
  And if they do go into buying millions of Bitcoin, then that's
• 1:13:10
  obviously going to move the price or rather maybe the price
• 1:13:12
  floor of Bitcoin. But from their take, they don't
• 1:13:15
  necessarily move the price, but they can hamper the price with
• 1:13:18
  regulations or the China ban, etcetera.
• 1:13:20
  There is ways that governments can essentially stifle the
• 1:13:25
  Bitcoin price runs as we saw in 2021 when China had the mining
• 1:13:29
  ban. But essentially the regulations
• 1:13:32
  are, you know, some red tape to basically scare away investors
• 1:13:35
  from Bitcoin. And this is where it all kind of
• 1:13:38
  comes together. What drives Bitcoins price?
• 1:13:41
  Who really controls Bitcoin's price?
• 1:13:43
  It's not the whales alone. It's not the core devs.
• 1:13:45
  It's not the SEC, the Fed, or the Chinese Politburo.
• 1:13:48
  It's all of them, and none of them tangled in a decentralized
• 1:13:52
  tug of war where power is shared, situational, and
• 1:13:55
  constantly shifting. One.
• 1:13:56
  Whales still move volume, especially in illiquid moments.
• 1:14:00
  Developers shape the protocol, laying the rails for future use
• 1:14:03
  cases. Government add pressure or
• 1:14:05
  permission through regulation, taxation and enforcement and
• 1:14:08
  macro forces, interest rates, inflation and dollar strength
• 1:14:11
  set the broader risk appetite. But those are just the headline
• 1:14:16
  players sentiment to hold the real way.
• 1:14:19
  Retail euphoria can create parabolic runs.
• 1:14:22
  Institutional caution can trigger sharp retreats.
• 1:14:24
  Even social narratives from AI hype to global instability now
• 1:14:28
  influence how Bitcoin is positioned in portfolio and
• 1:14:32
  2025. You seen this interplay in
• 1:14:34
  action spot ETF approvals brought record inflows but not
• 1:14:37
  always sustained rallies. Regulatory crackdowns in one
• 1:14:40
  region where we're met with growth in another.
• 1:14:42
  Whale movements triggered less panic in calmer markets.
• 1:14:45
  And sometimes the biggest surges came from narrative momentum
• 1:14:48
  alone, not fundamentals. That's the paradox of Bitcoin.
• 1:14:51
  It's decentralized but not immune to influence.
• 1:14:54
  It reflects belief, behavior and a constant negotiation between
• 1:14:58
  users, builders, institutions and regulators.
• 1:15:01
  The price is less a verdict than a pulse tracking confidence,
• 1:15:05
  uncertainty and conviction in real time.
• 1:15:08
  And as we've been covering on the show, we have yet to see
• 1:15:11
  retail come in. And now you could arguably say
• 1:15:15
  that maybe retail won't have the impact that it's had in the past
• 1:15:18
  'cause now we really have the institutional deep pockets come
• 1:15:21
  in. We have the nation states coming
• 1:15:22
  in. But we are seeing something go
• 1:15:26
  on that I've always called, you know, the billionaire Fudd
• 1:15:28
  playbook. We literally saw Jamie Dimon
• 1:15:30
  last week basically concede to the idea that his customers want
• 1:15:34
  Bitcoin. So I would just argue, guys, as
• 1:15:37
  we always say, chill out, zoom out stacks ads.
• 1:15:41
  The price is going to run. Now what is going to be the last
• 1:15:45
  straw that breaks the camel back for it to really start pumping?
• 1:15:49
  We don't know what that catalyst is going to be, but it's
• 1:15:52
  starting to play out in a way where I'm I'm starting to feel
• 1:15:57
  feel it, Nico. I'm starting to feel it in my
• 1:15:59
  oracles here. It's going to start moving.
• 1:16:02
  It is moving. I can feel it in my plums, Nico.
• 1:16:05
  It's gonna it's gonna start ripping.
• 1:16:06
  I think everyone watching Bitcoin and you can almost see
• 1:16:09
  the sentiment as well, not only just like in the chat, but on
• 1:16:12
  Twitter. This is why everyone's arguing
• 1:16:14
  about stuff is like when the price goes sideways or it goes
• 1:16:17
  down. This is when Bitcoin corners
• 1:16:19
  attack each other and when it goes up, that's when we get
• 1:16:22
  euphoric. And I, I think we're saying
• 1:16:24
  seeing this dynamic play out in real time, but something's going
• 1:16:28
  to break Nico and. It's going to.
• 1:16:30
  Break upwards. Upwards 100% I mean, look, I
• 1:16:33
  we've been saying this for quite a while now.
• 1:16:35
  I think this is the most bullish cycle from a news perspective,
• 1:16:39
  from a price action perspective, this has been one of the worst
• 1:16:41
  cycles to be honest with you. I think it's just a matter of
• 1:16:44
  time before the price action catches up with all of the
• 1:16:49
  insane news that is happening. And just to kind of show you
• 1:16:53
  guys Google trends, right? You know, we had like kind of
• 1:16:59
  like a mini blow off top in November and December where
• 1:17:03
  people were searching Bitcoin back in 2021.
• 1:17:07
  There was interest, but we haven't we haven't reached the
• 1:17:11
  euphoria of 2017. We haven't gotten back to that.
• 1:17:16
  You know, we have not even got him back to the euphoria we.
• 1:17:21
  Haven't add him back yet. To the to the euphoria of of
• 1:17:25
  Bitcoin being surged since 2017, right.
• 1:17:29
  So I think those days are going to come back.
• 1:17:32
  I think 2021 was artificially cut short because of the China
• 1:17:35
  mining ban. I think with everything that's
• 1:17:38
  happening, the general consensus that I feel this cycle is
• 1:17:41
  everyone is like kind of bearish in a way.
• 1:17:43
  Like it's like, look like, you know, Bitcoin's gonna hit
• 1:17:47
  150K200K. You know, this is it.
• 1:17:50
  And, and, and I'll tell you this guys, normally when everyone is
• 1:17:54
  predicting a price, that's not how it works.
• 1:17:57
  Like no one knew in 2017 when Bitcoin was at $1000 that it was
• 1:18:04
  going to end AT20K. No one in their right mind knew.
• 1:18:08
  It just became this like mania phase.
• 1:18:11
  And I think there's a probability of that happening
• 1:18:13
  again. Like there's a, there's a zero
• 1:18:15
  chance, you know, probability that, that that happens again.
• 1:18:19
  And I'm all for it. But again, you got to stay
• 1:18:22
  humble, stack sats and hold on for dear life.
• 1:18:27
  Like that's really how Bitcoin works.
• 1:18:29
  You know, Nico, everyone actually this one's kind of the
• 1:18:32
  consensus that I, that I heard from a lot of people at the
• 1:18:35
  Bitcoin conference, you know, just jokingly and, and kind of
• 1:18:39
  trolling a little bit. You, you always ask people like,
• 1:18:40
  what is your Bitcoin price prediction?
• 1:18:42
  And so many people said like, oh, I think 150, 160 and like,
• 1:18:48
  me and like Ruston are looking at each other and we're like,
• 1:18:51
  yeah, look at all these bears like that.
• 1:18:53
  That's so bearish. And then I don't know if you
• 1:18:55
  guys caught the interview I did with CJ.
• 1:18:58
  It was absolutely a banger. And I think he was the only
• 1:19:01
  person that with a straight and sober face said, yeah, we're
• 1:19:05
  going to like 321 easily by, you know, data points.
• 1:19:11
  And I was he's like, yes, this is my kind of dude.
• 1:19:14
  Like this is the kind of Bitcoin that I like all these vanilla
• 1:19:18
  150K. I'm like, bro, get out of here.
• 1:19:21
  What are you even doing here? Like 150 K.
• 1:19:24
  This is what are these numbers for ants?
• 1:19:26
  And then and then CJ is like 321 K period.
• 1:19:29
  Go check out the interview. He'll he'll break down all the
• 1:19:31
  masks for you. It's on our channel already.
• 1:19:33
  He he killed it. Love, CJ.
• 1:19:35
  Absolutely. All right everybody that was
• 1:19:38
  today's show. If you guys enjoyed the show,
• 1:19:39
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