Latest / Simply Bitcoin / Fidelity to Allocate 1% to Bitcoin in All-in-One ETF | EP 922

Transcript

Fidelity to Allocate 1% to Bitcoin in All-in-One ETF | EP 922 · Simply Bitcoin

• 0:03
  It's all. Going to zero against Bitcoin.
• 0:07
  It's going up forever. You're against Bitcoin.
• 0:17
  You're against freedom, yo. Welcome to Simply Bitcoin Live.
• 0:23
  We're number one source for the peaceful Bitcoin revolution of
• 0:26
  color, breaking news culture, Matic Warfare.
• 0:28
  We will be your guide through the separation of money and
• 0:30
  state. Ladies and gentlemen, another
• 0:34
  historic moment. There is never a quiet week in
• 0:37
  Bitcoin. Fidelity Canada announced that
• 0:41
  they're going to be allocating 1% of their all in They're
• 0:51
  allocating 1% up to 3% into Bitcoin.
• 0:56
  This is insane. This is a total game changer,
• 0:59
  especially for the number go up narrative.
• 1:02
  We're going to break down just the numbers.
• 1:05
  British Huddle did a great job at breaking down and how scarce
• 1:08
  this is. And if all these asset managers
• 1:12
  just wanted to allocate those percentage terms, there's just
• 1:17
  not enough Bitcoin to go around. Like, that's just, that's just
• 1:20
  the fact, Ladies and gentlemen. What we're witnessing right now
• 1:24
  is the world learning about they're really going to get a
• 1:28
  lesson on absolute scarcity. Nothing in human history has
• 1:34
  ever provided something like this.
• 1:36
  The only other thing that you could say had some type of
• 1:39
  scarcity as well, which is gold. But the thing about gold is that
• 1:44
  you don't know how much gold is in the ground.
• 1:46
  You don't know how much gold is floating in outer space.
• 1:48
  I know for a fact that there's 21 million Bitcoin.
• 1:51
  I could audit that myself. I run my own node.
• 1:54
  You know, I know that there's 21 million Bitcoin.
• 1:57
  I know what the supply is right now.
• 1:59
  That's gonna be the Max supply. There's still a couple million
• 2:02
  left to be mined. This is crazy.
• 2:04
  So you know, get yourself like if if you don't have exposure to
• 2:08
  Bitcoin at this point, I don't know what you're doing.
• 2:11
  And what I predict is gonna happen in the next couple of
• 2:14
  years is that public companies, nation states, whatever,
• 2:20
  whatever you think about, it's not going to be an option to not
• 2:26
  have Bitcoin in some type of, some not have some type of
• 2:32
  Bitcoin exposure. I think you're doing yourself a
• 2:35
  disservice. I think you would actually be
• 2:37
  hurting yourself or your clients if you're a money manager
• 2:43
  because it's becoming incredibly obvious what is happening right
• 2:47
  now. And of course, why is this
• 2:49
  happening? Well, it's because of Bitcoin's
• 2:51
  incentives, Michael said. We played you guys the video.
• 2:54
  It was like a 10 minute video in yesterday's episode of Michael
• 2:58
  Saylor flexing to Wall Street. Literally him.
• 3:03
  And then next to him, how Micro Strategy has performed since
• 3:07
  they've adopted the Bitcoin strategy.
• 3:09
  And clearly it's the winning strategy and obviously the world
• 3:13
  is waking up to that. Larry Fink doesn't go on legacy
• 3:17
  finance media and you know, say all these wonderful things about
• 3:21
  Bitcoin compared to what he was saying, you know, in 2017, how
• 3:25
  it was quote UN quote, an index for money laundering.
• 3:28
  You don't have him advocating for Bitcoin saying that Bitcoin
• 3:31
  is a flight to quality. If the incentives weren't there,
• 3:36
  right, if the market need wasn't there, if people weren't asking
• 3:40
  for this, they clearly see the writing on the wall.
• 3:44
  And the question is, you know, how much are you going to be
• 3:47
  able to accumulate, you know, before the music stops, right?
• 3:50
  Before you know, truly the world starts to wake up to this.
• 3:54
  And here's the other thing, guys, right?
• 3:56
  Do you have that famous adoption curve, right?
• 3:59
  The innovators in the very beginning, then the early
• 4:01
  adopters, you know, then the early majority.
• 4:04
  I really think we're jumping the chasm.
• 4:06
  I think we're going from, you know, the early adopters into
• 4:11
  the early majority stage. I think that's what you're gonna
• 4:14
  see either this cycle or the cycle coming up.
• 4:17
  I really think that Bitcoin is starting to head into the
• 4:20
  mainstream. So really exciting stuff.
• 4:23
  In other news, what we're gonna cover during the numbers is
• 4:27
  this. It's a pretty old clip, but I
• 4:30
  think it is also an indication of of an example of what the
• 4:37
  geopolitical implications of a Bitcoin standard are like what
• 4:43
  how the relationship between the individual and state are going
• 4:48
  to fundamentally change. This has been predicted by
• 4:52
  bitcoiners and by this book called The Sovereign Individual
• 4:56
  that we literally reference, you know, at least every other
• 4:59
  episode about how information technologies were going to
• 5:04
  enable freedoms the likes of which humanity has never seen
• 5:08
  before. And we're seeing that.
• 5:10
  We're seeing that not only with individuals allowing to, you
• 5:15
  know, choose basically choose their own money, right?
• 5:18
  What money works for, what money works for them, but also from
• 5:22
  the information side. It was a historic like, you
• 5:26
  know, however, which way you feel about, however, which way
• 5:30
  you feel about these certain divisive figures, right?
• 5:33
  Whether it's Tucker or Alex Jones or you know, or or these
• 5:39
  people that you might not necessarily agree with.
• 5:41
  The fact that they're getting a voice, the fact that they're
• 5:44
  platformed, you know, I, I think is a testament to how things are
• 5:49
  going to be working in the information age.
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  You can't silence every anybody, right?
• 5:55
  And I think that governments have been used to operating in a
• 5:57
  way where they've been used to controlling the information
• 6:02
  flows, Right. There is only a handful of
• 6:05
  legacy media outlets that have been used in the past to, you
• 6:09
  know, tell the population a certain narrative, right.
• 6:13
  Back in 2001, that was, you know, the whole weapons of mass
• 6:16
  destruction. The New York Times was used in
• 6:17
  that case. And not too long ago, the Wall
• 6:20
  Street Journal was used to try to convince people that, you
• 6:26
  know, Bitcoin was used to enable money laundering by terrorists,
• 6:30
  right? So now that the Internet is
• 6:33
  propagating, it allows individuals like you and I to
• 6:36
  literally buy a camera, buy a microphone, and now we can
• 6:40
  communicate directly, peer-to-peer, right?
• 6:42
  So the world is being disintermediating,
• 6:45
  disintermediating in information and in money.
• 6:49
  It's all happening at once, and it's causing a little bit of
• 6:51
  chaos. But if you're a bitcoiner and
• 6:54
  you have your Bitcoin in self custody, you're just watching on
• 6:56
  the sidelines eating popcorn. Because this is quite
• 6:59
  entertaining and it also gives me and Opti something to talk
• 7:03
  about. Speaking of Opti, Opti up on
• 7:05
  stage. How you doing my friend?
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  I'm doing wonderful. Another day in paradise.
• 7:11
  Life is good, man. But actually before we move on
• 7:14
  Nico, I I think it's fitting someone in the chat asked what
• 7:18
  was the question. Sorry guys, it said something on
• 7:21
  price is up. Why very simply guys is because
• 7:24
  demand is exceeding supply and I think this news story today
• 7:27
  we'll. We'll we'll get we'll get to it.
• 7:29
  Like the reason the price pumped, ladies and gentlemen,
• 7:32
  was because of the Fidelity news.
• 7:34
  That is a big deal. It's a very, very big deal.
• 7:38
  And it also tells you where this is going.
• 7:41
  Now, to be fair, because I it was reported a certain way on
• 7:45
  Bitcoin Twitter, which was It was reported in the sense that
• 7:49
  Fidelity is allocating. No, it's fidelity, Canada.
• 7:53
  But here's the thing, Here's the thing about Bitcoin's
• 7:55
  incentives. Once it succeeds in Fidelity
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  Canada, where do you think it's going after, right?
• 8:01
  It's inevitably coming to the States, right?
• 8:03
  It's inevitably spreading everywhere.
• 8:05
  The Bitcoin freedom virus is spreading.
• 8:07
  There's nothing anyone could do about it.
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  The incentives are going to win. My money is on incentives versus
• 8:13
  coercion. Anything that the governments
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  and these powerful NGOs and international organizations, all
• 8:18
  they have is coercion, right? All they have is, you know,
• 8:21
  misrepresentations. They try to spin things a
• 8:24
  certain way. We have the truth on our side.
• 8:26
  We have incentives on our side. Who do you think is going to win
• 8:28
  that race in the long term? You know, where my money is at
• 8:31
  literally anyways, Opti, what are you going to talk about
• 8:34
  during the culture? I mean, there was a very
• 8:36
  powerful clip you and I were talking about.
• 8:38
  Yeah, yeah, on air before. Definitely.
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  So on today's culture, you know, it is about the culture and not
• 8:44
  necessarily about me just propagating the culture, but
• 8:47
  also social commentary about culture at large.
• 8:51
  And this morning we saw a clip come out of Stephen A Smith,
• 8:54
  ESPN sports broadcaster, and even he is asking about money
• 8:59
  printing and what is going on. And then I'm going to compare
• 9:02
  that Nico and I will have this discussion about Janet Yellen
• 9:06
  the other day basically saying that, oh, we have to crack down
• 9:10
  on every everything that's not a security AKA Bitcoin.
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  And you can just see the the dichotomy going on where the
• 9:18
  average person is starting to wake up and realize Oh my God,
• 9:21
  that there is a problem going on.
• 9:23
  And we need new ideas. We need no more excuses, we need
• 9:26
  actual solutions. And I think everyone that is
• 9:31
  even semi awake right now that that still has a brain is
• 9:34
  looking out in the world and it's like what is going on?
• 9:36
  Why are they printing so much money for all these different
• 9:39
  causes and how does this benefit me?
• 9:41
  And again, guys, we are all self interested at the very end of
• 9:44
  the day. And then we have the the people,
• 9:47
  the powers that be, the people in power basically saying Oh
• 9:50
  yeah, we should clamp down on the only viable solution as far
• 9:53
  as we see. And and it's just it's
• 9:55
  absolutely crazy that we're seeing this.
• 9:58
  And it really just goes to show that 2024, in my opinion, and
• 10:01
  I'm not the only one that's saying this is going to be one
• 10:03
  of those years where people are looking at the Fiat world and
• 10:08
  they're like, Oh my God, we can't keep going down this path.
• 10:11
  Remember, we had Jerome. Yeah, Jerome Powell say this.
• 10:13
  We had Jay Powell say this the other day, that we're an
• 10:16
  unsustainable fiscal path. And the only thing that the Fiat
• 10:21
  world has going for them is that they need more people.
• 10:23
  And yet more people are looking at the landscape and they're
• 10:25
  like, wait, we need to escape the Fiat world?
• 10:29
  What is going on right now? And of course, we think the
• 10:32
  solution is simply Bitcoin. So we'll have a good discussion
• 10:34
  today. We'll actually have a discussion
• 10:35
  today. We're going to play some videos
• 10:36
  for you, but we'll we'll actually talk about this and and
• 10:40
  talk about what's going on in culture at large for once. 100
• 10:43
  percent, 100% guys, if you're enjoying the show, it really
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  helps with the YouTube algos. Smash that like button.
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  us and we really, truly appreciate it.
• 10:59
  All right guys, no more delay, Let's jump straight into the
• 11:01
  show. But before we do that, I want to
• 11:03
  give a shout out to our flagship sponsor, Bitcoin.
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  because guys, remember, self custody is the revolution.
• 12:00
  All right guys, let's get to the numbers.
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  Stamp your seed on stamp Seed. All right ladies and gentlemen,
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• 13:37
  Simply at the time of recording, the Bitcoin price is 45,095 SATS
• 13:44
  per dollar 2218 block height 829,546 blocks to having 10,454
• 13:55
  having estimate April 19th 2024. Total Lightning Network capacity
• 14:00
  4750 Bitcoin capacity value 214 million U.S. dollars Realized
• 14:09
  Monetary inflation 1.75%. The market capitalization of
• 14:15
  Bitcoin currently sitting at $884 billion Bitcoin versus gold
• 14:21
  market cap 6.42%. Anyways, this is the Elon.
• 14:26
  Can we get some horns for 45 K? Let's go.
• 14:28
  Are we into the next leg of the bull market?
• 14:31
  Oh man, it feels good. It does feel good.
• 14:33
  It does feel good. I want a quick word from yellow.
• 14:38
  Don't stop believing how to do that feeling.
• 14:42
  Thank you yellow. Anyways, so this video made the
• 14:46
  rounds yesterday and it's it's a pretty old video, but it's
• 14:51
  essentially, out of all people, Barack Obama promoting Bitcoin.
• 14:55
  Great, it's amazing, but it also shows something very, very it.
• 15:02
  It it signifies something as well.
• 15:05
  And essentially what it signifies is how governments
• 15:09
  really view you, right? Like how how nation states, how
• 15:14
  how the state views you, right. You can't have privacy, You
• 15:21
  can't have total encryption. That's a problem.
• 15:25
  That's an issue. So I'll play you guys the video
• 15:30
  and then we'll talk about it and I'll read you some quotes from
• 15:33
  the sovereign individual. Because ladies and gentlemen,
• 15:36
  what is happening right now is an inflection point.
• 15:40
  And whether it's politicians like Barack Obama, Hillary
• 15:44
  Clinton, literally saying the choir part out loud that you
• 15:46
  know, quote, UN quote, crypto currencies could be a potential
• 15:51
  threat to nation states, right? That's literally Hillary
• 15:53
  Clinton's words. You know, these aren't stupid
• 15:57
  people. These are highly educated
• 15:59
  people, very, very, very powerful people.
• 16:03
  And you know, they're seeing the writing on the wall.
• 16:05
  Now here's the thing, though, The return on violence and their
• 16:10
  ability to control is diminished when a system or a network is
• 16:17
  decentralized. That's why platforms like Noster
• 16:21
  are so sorry. Protocols like Noster are so
• 16:23
  important. That's why Bitcoin is so
• 16:25
  important and that's why decentralization is so
• 16:29
  important. And that's something that no
• 16:32
  other cryptocurrency except for Bitcoin has been able to
• 16:35
  achieve, right? Because if it isn't
• 16:38
  decentralized, inevitably the state will Co opt it, it will
• 16:44
  shut it down. And I'll give you, I'll give you
• 16:47
  an example, give you guys an example of kind of how difficult
• 16:52
  it is to shut down a, you know, a decentralized grassroots
• 16:57
  movement. If you take a look at the
• 17:00
  Afghanistan war or if you take a look at the Vietnam War, right,
• 17:06
  you had the United States of America, the most powerful
• 17:09
  military on the face of the planet, right, with, you know,
• 17:14
  the latest and greatest technology.
• 17:17
  And they weren't able to defeat in, you know, in in in
• 17:24
  Afghanistan, you know, well armed goat herders, right.
• 17:28
  That were very, very motivated. And in Vietnam, right.
• 17:32
  Rice farmers, right. Of course not all of them were
• 17:34
  rice farmers, but a big, a big part of the population were.
• 17:38
  Right. You know, these were farmers.
• 17:40
  These were, you know, not necessarily the wealthiest
• 17:43
  people, but they believed and they were able to defeat one of
• 17:48
  the strongest militaries on the face of the planet.
• 17:51
  Why? Because it was a decentralized
• 17:53
  movement. It was a, it was a bottom up
• 17:55
  movement, right. And again, I'm an American.
• 17:59
  I'm an American. I love the USI love, I, I love
• 18:02
  the United States of America. But just to kind of give you an
• 18:05
  idea because it's one of the talking points is you see this
• 18:09
  very, very powerful nation state as this giant monolith that
• 18:13
  can't be defeated. But the reality is that they're
• 18:16
  really, really good. And this was one of Satoshi's,
• 18:18
  like, original quotes, right? Governments are really, really
• 18:21
  good at, you know, shutting down, you know, centralized
• 18:25
  entities. But decentralized entities seem
• 18:28
  to be holding their own, right? It's kind of like a paraphrase
• 18:31
  of Satoshi's quote, but it goes something along those lines.
• 18:35
  So just something to keep in mind before I play this video.
• 18:39
  And another thing that I wanted to mention also is I think that
• 18:46
  something like Bitcoin, right and taking the power away from
• 18:50
  Washington DC My personal view is that is the most American
• 18:55
  thing that can happen. That was that was you know it
• 18:59
  it, it is called the United States of America, right.
• 19:02
  Individual states with separate laws.
• 19:05
  And this is a country that values individualism.
• 19:10
  And I think what Bitcoin is going to enable is it's going to
• 19:13
  enable the US to go back to its roots, right, which were
• 19:17
  Frankensteined in 1913 with the establishment of the Federal
• 19:23
  Reserve, right, which caused a tremendous amount of it's
• 19:27
  centralized, A tremendous amount of power in Washington, DC And
• 19:32
  also coincidentally the establishment of the federal
• 19:35
  income tax, which was also it was also adopted, it also
• 19:39
  started in 1913. So what happened in 1913?
• 19:43
  It's time to put the money back in the hands of the people and
• 19:48
  out of the hands of the politicians.
• 19:51
  The politicians had 100 years, right?
• 19:54
  Since 1913, more than 100 hundred years.
• 19:56
  And what Ron Paul has said, it's not a coincidence that.
• 20:00
  The, you know, the century of central banking was also one of
• 20:05
  the bloodiest centuries in human history.
• 20:07
  That is not a coincidence. Ladies and gentlemen, it's time
• 20:11
  to try something new. Anyways, let's let's check out
• 20:15
  the clip. The question we now have to ask
• 20:18
  is if technologically it is possible to make an impenetrable
• 20:26
  device or system where the encryption is so strong that
• 20:31
  there's no key, there's no door at all, What mechanisms do we
• 20:36
  have available to even do simple things like tax enforcement?
• 20:42
  Because if in fact you can't crack that at all, government
• 20:46
  can't get in, then everybody's walking around with a Swiss bank
• 20:53
  account in their pocket. Precisely.
• 20:56
  The question we now have to ask is if technologically it is
• 21:00
  possible, Precisely, precisely. Like, yes, that's that's the
• 21:06
  whole point. That is the whole point, right?
• 21:10
  And again, this was shout out to this book, you haven't read it
• 21:14
  yet. I highly, highly recommend it.
• 21:15
  Let me read this passage 1st and we'll go from there.
• 21:22
  Taxing capacity in the leading nation states will fall away by
• 21:25
  50 to 70%, while it will prove far more difficult to reduce
• 21:30
  spending in an orderly way. And that's the issue here,
• 21:34
  right? And he said it.
• 21:35
  He's like tax enforcement. And ladies and gentlemen, I'm
• 21:38
  not talking about federal income tax, right?
• 21:41
  That's a whole other debate, right?
• 21:43
  You know, obviously you don't pay your taxes, you know you're
• 21:46
  in trouble. But with the current spending,
• 21:50
  tax revenue alone is not enough. the US spends between 1 trillion
• 21:55
  to 2 trillion every single year more than it collects in tax
• 22:00
  revenue, even though it collects more tax revenue year after
• 22:06
  year, right. So the government doesn't have a
• 22:09
  tax collecting problem, It has a spending problem, which we are
• 22:15
  going to cover during the culture segment because every
• 22:19
  day influential people are starting to realize what
• 22:24
  Bitcoiners have been screaming from the rooftops for very long
• 22:27
  now, right? So anyways, I'm going to read
• 22:30
  you these passages from the sovereign individual because it
• 22:32
  will kind of give you an idea and I want you guys to connect
• 22:35
  the dots with what former President Obama just said,
• 22:38
  right? Anyways, it goes on to say
• 22:41
  Genius will be unleashed. Freed from both the oppression
• 22:44
  of government and the drags of racial and ethnic prejudice in
• 22:48
  the Information Society, no one who is truly able will be able
• 22:53
  will be detained by the ill formed opinions of others.
• 22:56
  It will not matter what most of the people on earth might think
• 22:59
  of your race, your looks, your age, your sexual proclivities,
• 23:03
  or the other way the the way you wear your hair in the cyber
• 23:07
  economy, they will never see you.
• 23:09
  The ugly, the fat, the old, the disabled will vile with the the
• 23:13
  young and beautiful and equal terms in an utterly colour blind
• 23:17
  anonymity. On the new frontiers of
• 23:19
  cyberspace. New technologies will allow the
• 23:23
  holders of wealth to bypass the national monopolies that have
• 23:26
  issued and regulated money in the modern period.
• 23:29
  Their importance for controlling the world's wealth will be
• 23:32
  transcended by mathematical algorithms that have no physical
• 23:36
  existence. In the new Millennium, cyber
• 23:39
  money controlled by private markets will supersede Fiat
• 23:42
  money issued by governments. It goes on to say.
• 23:46
  Lacking their accustomed scope to tax and inflate, governments,
• 23:49
  even in traditionally civil countries, will turn nasty.
• 23:53
  As income tax becomes uncollectible.
• 23:55
  Older and more arbitrary methods of extraction will resurface.
• 23:59
  The ultimate form of withholding tax, a de facto or even overt
• 24:03
  hostage taking, will be introduced by governments
• 24:06
  desperate to prevent wealth from escaping beyond their reach.
• 24:10
  Unluckily, unlucky individuals will find themselves singled out
• 24:13
  and held to ransom in an almost medieval fashion.
• 24:17
  Businesses that offer the offer, services that facilitate the
• 24:20
  realization of autonomy by individuals will be subject to
• 24:23
  infiltration, sabotage, and disruption.
• 24:27
  Arbitrary forfeiture of property, already commonplace in
• 24:29
  the United States where it occurs 5000 times a week, will
• 24:33
  become even more pervasive. Governments will violate human
• 24:37
  rights and censor the free flow of information, sabotage useful
• 24:41
  technologies, and worse. This is where we are, ladies and
• 24:46
  gentlemen. We're transitioning from this
• 24:49
  old era into this new era. And it's really fundamentally
• 24:54
  it's been enabled by the Internet.
• 24:57
  The Internet has enabled this new type of freedom either via
• 25:04
  information and Bitcoin, right? And you have to ask yourself
• 25:10
  where do you want to? You know, where do you want to
• 25:13
  find yourself in this transition, right?
• 25:16
  Do you want to get caught left behind?
• 25:19
  Do you still want to be consuming?
• 25:21
  And I have nothing against the legacy media, but do you still
• 25:25
  want to be taking everything that the legacy media says at
• 25:28
  face value? Or perhaps do you want to start
• 25:31
  doing your own research? Do you want to start consuming
• 25:34
  media from multiple sources and make your own opinion rather
• 25:39
  than taking what you know, a government or the media says
• 25:43
  directly at face value, right. This is a new world we're
• 25:47
  heading into. And you know, of course
• 25:50
  governments, you know, established media sources would
• 25:53
  like you to believe that you know everything they say is 100%
• 25:57
  certain, but. But these are the same.
• 25:59
  And of course, to keep it Bitcoin centric, these are the
• 26:02
  same, you know, officials that were telling us that there was
• 26:04
  going to be no inflation. These are the same officials
• 26:07
  that are telling you that, you know, the price of Thanksgiving
• 26:11
  is actually cheaper than the year before, right?
• 26:14
  These are the same people that are telling you the economy is
• 26:17
  improving even though you go to the supermarket and you know the
• 26:23
  sticker, the sticker shock is, is the sticker shock.
• 26:26
  The prices don't lie, right? So you know, I don't think they
• 26:30
  have any legs to stand on to lecture us on what we know is
• 26:34
  true and what we know is isn't true.
• 26:36
  I think the Internet is an inconvenience.
• 26:39
  I think when very powerful politicians get community noted
• 26:42
  by the people right on social media platforms, it's an
• 26:46
  inconvenience to them because they've been used to operating
• 26:50
  in a system where they've had a total control on the flows of
• 26:54
  information. Those days are slowly coming to
• 26:58
  an end, like the book the sovereign individuals just
• 27:01
  completely described. And now going back to what
• 27:04
  former President Barack Obama was saying, like, yeah, that's
• 27:07
  the whole point of Bitcoin, right?
• 27:10
  And essentially what that book also predicted is that
• 27:13
  essentially because of this newfound power, the relationship
• 27:17
  will change and it will become and instead of it being like
• 27:21
  this, you're the citizen of a country and essentially, you
• 27:25
  know, you pay these taxes. You know, this is the way it is.
• 27:28
  It starts to become a more business like relationship where
• 27:33
  the Better flag theory comes into play, where you'll see
• 27:37
  bitcoiners and other sovereign individuals start to pick and
• 27:41
  choose what jurisdictions they live in based on the laws of
• 27:46
  that specific jurisdiction. And remember, because of the
• 27:49
  Internet, now you can work from anywhere around the world,
• 27:52
  right? So you got to arm yourself with
• 27:55
  this information. You got to arm yourself with the
• 27:58
  ability to properly secure your Bitcoin, your Bitcoin, right.
• 28:03
  And we literally all of our sponsors are literally tailored
• 28:07
  to, to help you through this process, right.
• 28:11
  So Bitcoin was self custody by default, right?
• 28:13
  Foundation, Passport, hardware wallet, stamp, seed, like
• 28:17
  literally they will walk you through this process of taking
• 28:20
  back your sovereignty with Bitcoin and then using the tools
• 28:25
  that you using the different tools that you can you can use
• 28:29
  to enable that. Anyways dude like I'm I'm just
• 28:34
  doesn't surprise me. But you know I I think they're
• 28:38
  saying the quiet part out loud. I think they're, you know,
• 28:40
  they're seeing the writing on the wall and they're like, holy
• 28:42
  crap, like you know this is, this is some crazy stuff but you
• 28:47
  kind of see like some some totalitarianism like slip out of
• 28:53
  the cracks there Like, yeah, like we as a government we need
• 28:57
  to be able to access you know everyone's information and
• 29:00
  everyone's account you know how to flick of a switch.
• 29:04
  And again, like it's very difficult to like.
• 29:07
  It's very in in in. In a perfect world where you
• 29:12
  know these powers weren't abused, you can make the
• 29:16
  argument that OK, maybe that would be a better system.
• 29:19
  But as a bitcoiner who does the show with BTC sessions, I never
• 29:26
  forget the Canadian truckers protest.
• 29:29
  My friend Ben was persecuted for being a bitcoiner, right?
• 29:35
  And you know, however, which way you believe about, you know, the
• 29:38
  truckers protest. Aren't these Western
• 29:40
  democracies? Isn't freedom of speech
• 29:42
  protected? Aren't you allowed to protest,
• 29:47
  you know, against your government in a peaceful manner?
• 29:50
  And it seems like they cut off people's bank accounts because
• 29:53
  of their political beliefs. And that didn't only just happen
• 29:56
  in Canada. That also happened in the US.
• 29:58
  And this is common. All this is common all over the
• 30:03
  world where they do this stuff. So I'm sorry if a politician is
• 30:08
  lecturing me about how, yeah, it's a bad thing that people
• 30:13
  have a Swiss bank account in their pocket.
• 30:15
  I believe that the world would be a much better place if people
• 30:19
  had a Swiss bank account in their pocket, AKA Bitcoin,
• 30:23
  because it would actually be a check on power on the
• 30:26
  politicians that have abused that power against the people.
• 30:30
  That's my belief. Anyways, Opti, what's your take
• 30:34
  on all this? Yeah, well, remember Nico, free
• 30:37
  speech is dangerous to our democracy.
• 30:39
  You know, you can't make up your mind for yourself because you're
• 30:41
  not smart enough for whatever they think about us.
• 30:44
  Of course I'm being sarcastic guys, before I'm taken out of
• 30:46
  context, but I I I think, you know, if you're watching this
• 30:49
  show like you guys are smart, you see the writing on the wall.
• 30:53
  And I I'm glad that this video makes its round every other
• 30:56
  couple of years because it goes to something I've been saying
• 30:59
  for a while. You know it it it's very easy to
• 31:02
  think that the people in power don't know what's going on or
• 31:05
  they're not that smart. But I am very convinced,
• 31:08
  especially after covering all the stuff we covered last year,
• 31:11
  that at least at a very high level, the people in power know
• 31:15
  exactly what Bitcoin does and they're absolutely terrifying.
• 31:19
  They're shaking in their boots. And personally, I I think it's
• 31:23
  absolutely hilarious that Obama said the statement as as it's
• 31:28
  like a seemingly bad thing that all of us have Swift's bank
• 31:30
  accounts in our pockets when like now an average person can
• 31:35
  have a Swiss bank account. You don't have to be some
• 31:37
  ridiculously wealthy person to have a Swiss bank account.
• 31:39
  Like this is good for all of us, you know, impenetrable money,
• 31:43
  censorship resistant money, debasement proof money,
• 31:45
  permissionless money. Like all this sound very good to
• 31:48
  me as just an average citizen that looks at the incredible
• 31:52
  amount of money printing and the dystopian path that we are going
• 31:57
  as a civilization as a whole. This is the stuff that should be
• 32:01
  terrifying you that oh wait, they want us to be corralled in
• 32:05
  a money that they can completely control.
• 32:07
  Like the government not being able to get to my money is a
• 32:11
  good thing. This is a feature, not a bug.
• 32:14
  The separation of money and state most of our problems are
• 32:16
  because. And then just and just to be
• 32:18
  clear, like, because you know it it like, like it's not like
• 32:22
  anarchy, right? Like of course, like if you
• 32:25
  commit a crime, right the old fashioned way is, you know, like
• 32:29
  you knock on the door. But they're that's not what
• 32:31
  they're advocating for. They're advocating for mass
• 32:35
  surveillance and they're advocating for essentially a God
• 32:39
  switch to essentially shut down the money of whoever they see
• 32:44
  fit. And then they're like trust us,
• 32:47
  we won't use these central bank digital currencies against you,
• 32:51
  even though history has shown that when governments have that
• 32:55
  much power, they have time and time and time again, especially
• 32:59
  if they get pushed into a corner, have used that power
• 33:02
  against their citizens, right. So essentially what Bitcoin is,
• 33:06
  is a check on that power. And someone actually put in a
• 33:08
  really good comment because I did remember this on Andreas
• 33:12
  Antonopoulos quote, which is Andreas says it's a bank in your
• 33:15
  pocket, not a bank account. That's completely correct.
• 33:18
  Bitcoin if you have Bitcoin in self custody and you're running
• 33:22
  your own node recommend the start 9.
• 33:24
  By the way there's a link in the description super awesome.
• 33:28
  It's like it's a powerhouse you are running your own bank.
• 33:33
  It's essentially right and I think you know more people all
• 33:36
  around the world empowering themselves with Bitcoin I think
• 33:39
  would make the world a much better place.
• 33:42
  And I'll say this guys, because I think a lot of the, a lot of
• 33:46
  the, you know, the angling and how they convince you is
• 33:49
  essentially like look like if this, if this happened, it would
• 33:52
  be chaos like we need to control the monetary policy.
• 33:56
  I'm going to go out on a limb and I'm going to say that I
• 34:00
  truly believe that if you fix the inflationary issue, which is
• 34:04
  going to fish a lot, fix a lot of the economic woes that people
• 34:09
  are experiencing all over the world, I think a lot of the
• 34:13
  tensions, a lot of the violence would go away because the same.
• 34:17
  Maybe I'm naive to say this, but I mean look at El Salvador.
• 34:21
  Like I think a lot of the tensions would go away because
• 34:26
  it would actually allow people to to put food on the table with
• 34:30
  their families. It like it would actually allow
• 34:33
  people to think about the future to earn in a money that isn't
• 34:35
  being debased right. I don't think it's a coincidence
• 34:39
  that the first country that made Bitcoin legal tender has re
• 34:44
  elected the most popular president in the Americas.
• 34:47
  He won the vote by 87%. I think if you fix the base
• 34:52
  layer of society, you fix the incentive structure and actually
• 34:55
  caught politicians are incentivized to do good by their
• 34:59
  to do good by their constituents.
• 35:01
  I think that's the reality of that.
• 35:03
  Maybe I'm wrong, maybe I'm being naive, but I mean, look at El
• 35:06
  Salvador. Like, is that a coincidence?
• 35:09
  Like what happens if the next country that makes Bitcoin legal
• 35:12
  tender, all of a sudden life starts to improve In the same
• 35:16
  way? I think people underestimate how
• 35:19
  big of a role money plays in society.
• 35:22
  It's a big, like, it's a big thing.
• 35:24
  It's half of every transaction. And could you imagine if that
• 35:27
  base layer of society was fundamentally rot into the core?
• 35:31
  That's what Fiat money is, and I think it truly brings out the
• 35:35
  worst of humanity. It like it makes humans act like
• 35:39
  total savages because in the Fiat system, a bureaucratic
• 35:44
  elite, a powerful elite, benefit from it while everyone else gets
• 35:48
  poorer. Bitcoin is a silent protest.
• 35:51
  It's a peaceful revolution against that Fiat debasement and
• 35:55
  theft. That's, you know, To put it
• 35:56
  bluntly, that's what it's all about, hey.
• 35:59
  Wait hey wait, Nico, before we go on, I I see we're we're
• 36:02
  running pretty long on the numbers.
• 36:04
  I'm going to double down on what you said.
• 36:06
  Essentially what Obama is saying is like, hey, let us steal from
• 36:10
  you, just let us do it easily. And you can either use the money
• 36:15
  that steals from you, AKA dollars, or you can sell those
• 36:17
  dollars and use a money that can't steal from you.
• 36:20
  Like it's it's a very simple choice and and actually you
• 36:23
  asked the rhetorical question. I don't have to imagine that
• 36:26
  world, Nico. We are living that world.
• 36:29
  Money is broken and it's corrupt and it is rotten.
• 36:33
  This is the world we live in. This is the status quo. 100%
• 36:36
  This is the status quo and it's time for a change.
• 36:38
  It's time to try something new. We don't need politics in order
• 36:42
  to achieve this. All you got to do is opt out by
• 36:44
  buying Bitcoin, earning Bitcoin, mining Bitcoin, and taking that
• 36:48
  Bitcoin into self custody. All right everybody, let's get
• 36:50
  some news. We have a lot to talk about.
• 36:53
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• 39:10
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• 39:17
  All right, quick ETF treasury update, let's check it out.
• 39:21
  The BlackRock. Let's refresh this.
• 39:26
  Maybe it's changed the Black Rock, Yes, it has changed.
• 39:31
  That's what I thought. It's up from 76,000 to 78,000
• 39:36
  Bitcoin. The fidelity it seems to have
• 39:39
  been, I think it's about the same, which is 66,000 Bitcoin.
• 39:42
  So clearly the inflows are coming in.
• 39:44
  There's more inflows than there are outflows.
• 39:46
  So man, institutional interest continues to rise.
• 39:50
  And remember guys, there's not enough to go around.
• 39:52
  But I do want to cover this topic today because it is the
• 39:55
  big topic of the day. Fidelity is now allocating spot
• 39:59
  Bitcoin to their all in one conservative ETF.
• 40:03
  Ladies and gentlemen, this is a big effing deal.
• 40:08
  This is a big, big deal because it is putting Bitcoin on equal
• 40:15
  footing, right? To a lot of these other, you
• 40:19
  know, a lot of these other investments.
• 40:21
  So investment grade debt, 59% US equities, you know, roughly 20%
• 40:26
  international equities, roughly 10% Canadian equities, roughly
• 40:29
  10% crypto currencies. Of course it's the Bitcoin, the
• 40:33
  fidelity advantage, Bitcoin ETF, 1% global equities, 1% money
• 40:38
  market cash, other assets, barely nothing or negative
• 40:42
  whatever. The point is though, is here's
• 40:45
  what's going to happen, right? And Michael Saylor said this
• 40:49
  yesterday, and I love this website because you know, it's
• 40:55
  priced in Bitcoin. We always advocate for saving in
• 40:57
  Bitcoin, ladies and gentlemen. Bitcoin has outperformed
• 41:01
  everything. Everything has gotten cheaper.
• 41:04
  If you're saving in Bitcoin, right?
• 41:07
  You know U.S. dollar, oil, gold, S&P 500.
• 41:10
  You know United States, you know the medium housing price, it's
• 41:14
  anywhere between the low 90% to 80% that that's how 8.
• 41:20
  Literally things have gotten 90 to 80% cheaper if you've been
• 41:23
  saving in Bitcoin. And this is with everything
• 41:26
  commodities, equity markets, bond markets, Bitcoin is just
• 41:31
  taking this to absolute school housing your wages, right.
• 41:37
  If you're saving in Bitcoin, you put a percentage of your wages
• 41:39
  in Bitcoin. Yes, you've gotten wealthier.
• 41:44
  So what's going to happen with this allocation is it's going to
• 41:49
  start outperforming these other allocations.
• 41:54
  And one, what happens when that 1% allocation starts
• 41:58
  outperforming those other allocations?
• 42:00
  Well, ladies and gentlemen, guess what?
• 42:02
  You start to increase that allocation, it starts to get
• 42:05
  bigger, right? And this is one of the theories
• 42:07
  by Kathy Wood, Ark Invest in her Bitcoin prediction for 2030.
• 42:14
  She had two she had three predictions.
• 42:15
  She had the base case, which is 258,000.
• 42:18
  She had the sorry the the the bear case 258,000, the bull
• 42:23
  case, 648,000, and the bull case 1.5 million.
• 42:28
  And one of the cases that she was making was that these asset
• 42:33
  managers would put a percentage or two or three into Bitcoin by
• 42:39
  2030. Ladies and gentlemen, it's 2024.
• 42:41
  It just turned 2024. This is already happening in
• 42:44
  Canada. And when this succeeds in
• 42:45
  Canada, ladies and gentlemen, this is going to come to the US,
• 42:48
  right? So you want to know why
• 42:50
  Elizabeth Warren was freaking the F out?
• 42:53
  And she was, like, writing letters to fidelity, like, about
• 42:56
  the ETF. You want to know why Gary Genzer
• 42:58
  was, like, grinding his teeth? Like, yeah, I mean, we accepted
• 43:01
  it, but, like, this is a bad idea.
• 43:03
  This is why I think this is going to make bonds look
• 43:07
  horrible. And if people aren't buying
• 43:09
  bonds, it's the governments are in in in in a problem.
• 43:13
  And now connect that with what I was talking about with Barack
• 43:16
  Obama and the sovereign individual and you kind of get
• 43:19
  where I'm going with this, right?
• 43:22
  Anyways, it goes on to say this, according to this article by
• 43:25
  ccn.com, Fidelity all in And I also want to say it's
• 43:39
  institutional Bitcoin investing normalized.
• 43:42
  It goes on to say, Fidelity Investments Canada has
• 43:44
  incorporated A1 to 3% Bitcoin allocation into its all in The
• 43:52
  development represents a low cost solution that adheres to an
• 43:55
  integrated strategic asset allocation model and consistent
• 43:59
  portfolio rebalancing underscores Fidelity's
• 44:02
  innovative approach to investment in Canada.
• 44:04
  Goes on to say Fidelity adds Bitcoin to balance.
• 44:08
  ETF sparks sparks bullish rally. And that's exactly what happened
• 44:12
  when people saw this. Ladies and gentlemen, this is a
• 44:15
  big deal. We shot up from the high 42,942
• 44:21
  thousand 900 to the low 4043 thousand and we shot up in 24
• 44:27
  hours to 45,000. This is why this is a big deal.
• 44:33
  It's a very, very big deal. And I'll get into the numbers of
• 44:37
  why this is such a big deal. Here's, of course, Adam Back,
• 44:40
  who was, you know, cited in the Satoshi, the original Bitcoin
• 44:44
  white paper. And of course he has the Lord of
• 44:47
  the Rings. You know the the Urakai scene
• 44:50
  the you know the The Two Towers the second Lord of the Rings
• 44:53
  movie. You know where they have where
• 44:55
  the Urakai are trying to you know seize the Fort anyways
• 45:00
  legendary movie. But you know there is a there is
• 45:03
  a scene in that movie where you know the battle begins and of
• 45:06
  course the king of Rohan is likes and so it begins and very
• 45:10
  very fitting right And Adam back goes on to say and so it begins
• 45:14
  fidelity putting respectively 1% conservative.
• 45:17
  You put in parentheses conservative, 2.5% balanced and
• 45:21
  3.1% aggressive Bitcoin via their Bitcoin ETF in general,
• 45:26
  managed fund, all in one ETF. Yes, Adam Back is 100% a spot
• 45:32
  on. And so it begins.
• 45:34
  Yes, it begins because this is going to prove.
• 45:38
  This is going to prove without a shadow of a doubt that having
• 45:42
  Bitcoin in your portfolio, whoever you are, a business, a
• 45:46
  large institution, A publicly traded company, is not an
• 45:50
  option. It's a necessity.
• 45:53
  Because if you don't do it, you'll be left behind by people
• 45:57
  that do do it. Now let's talk about Fidelity a
• 45:59
  little bit. Of course this is Fidelity
• 46:00
  Canada, but I'm sure that if it when it works in Fidelity
• 46:04
  Canada, it will come to the United States.
• 46:08
  So take a look at how big Fidelity is.
• 46:11
  Let's run the numbers. This is from their official
• 46:14
  website. Nearly 50 million individual
• 46:17
  investors, $12.6 trillion assets under management, 4.9 trillion
• 46:24
  total discretionary assets. Now, British huddle had some
• 46:30
  good takes, but before I get to that, here's Bitcoin Magazine.
• 46:34
  Fidelity Digital Assets says they're bullish on the short,
• 46:37
  mid and long term for Bitcoin and it has the outlook.
• 46:40
  So the short term outlook for Bitcoin according to Fidelity,
• 46:43
  is positive. The midterm one to five years is
• 46:46
  positive and the long term is positive.
• 46:49
  I would put extremely positive right there to be honest with
• 46:51
  you, but you guys get the point. Now here's the British Huddle
• 46:54
  tweets and I think it really kind of breaks down and gets
• 46:57
  into the details of this and why it's so significant.
• 47:00
  Before I read this, guys, remember, remember there are 60
• 47:04
  to 70 million millionaires all around the world.
• 47:08
  There's only 21 million Bitcoin. Meaning if every single
• 47:12
  millionaire around the world wanted to get just one Bitcoin,
• 47:15
  they physically could not do it. There's not enough Bitcoin to
• 47:19
  get to go around and I wanted to say that just to describe
• 47:24
  bitcoins, absolute scarcity. This is unique to Bitcoin.
• 47:29
  There's nothing in the world like it.
• 47:31
  And here, British Huddle, I think hits the nail on the head
• 47:34
  with this tweet. He goes on to say forget
• 47:36
  existing assets under management.
• 47:38
  That's already insane to think about if we're building a future
• 47:41
  where 1% of every new dollar that BlackRock, Fidelity and
• 47:45
  their counterparts take in every year will be finding its way
• 47:48
  into Bitcoin within three to five years, in my opinion.
• 47:51
  To put it into perspective, BlackRock bought an extra 900
• 47:55
  billion under management from 2021 to 2 from 2021 to 2022.
• 48:01
  This allocation would represent a $9 billion yearly inflow just
• 48:05
  from new capital from just black rocks.
• 48:07
  New inflow Bank of America multiple says 9 billion = 1
• 48:12
  trillion added per year to market cap.
• 48:15
  And then he goes on to describe this situation.
• 48:19
  So based on my estimates, in 2024 there will be 218,000
• 48:25
  Bitcoin mine. In 2025, there will be 164,000
• 48:31
  Bitcoin. Mine a total of 382,000 Bitcoin
• 48:35
  over 2024 and 2025. For BlackRock and Fidelity to
• 48:39
  allocate 1% of their assets to Bitcoin over the next next two
• 48:42
  years at a price of 45,000, they will need to buy 3.2 million
• 48:50
  Bitcoin. Ladies and gentlemen, there is
• 48:52
  not enough Bitcoin for them to buy with the existing amount of
• 48:59
  Bitcoin being mined. And mind you, that is only
• 49:02
  Fidelity and BlackRock. That's not taking to account
• 49:06
  someone following in another billionaire following in Michael
• 49:10
  Saylor's footsteps. That is not taking into account
• 49:13
  another public publicly traded company following
• 49:17
  Microstrategy's strategy, right? Just to kind of give you an idea
• 49:22
  of the potential supply shock coming, you saw that at that
• 49:26
  meme by Adam Back. Very, very fitting.
• 49:28
  So it begins. This is what's special about
• 49:32
  Bitcoin. Remember, gold is not like this.
• 49:35
  When the price of gold goes up, what happens?
• 49:38
  More gold is mined out of the ground right When the price of
• 49:43
  Bitcoin goes up, you can't mine more Bitcoin.
• 49:47
  And every four years, that supply gets cut in half.
• 49:51
  No matter. No matter what, it's just the
• 49:53
  law. You can't change it just to kind
• 49:56
  of give you an idea. And you want to know why Michael
• 49:59
  Saylor is saying it's going up forever, Laura.
• 50:01
  This is why even if the demand goes higher, supply stays the
• 50:06
  same, actually doesn't stay the same, gets cut in half, right?
• 50:10
  So this is absolutely bullish news.
• 50:12
  This is crazy. And you know, if you haven't got
• 50:16
  yourself Bitcoin yet, or if you haven't helped your friends,
• 50:19
  your family, your brothers, your sisters, your mother's, your
• 50:21
  aunts, your uncles, you know they're going to get left
• 50:24
  behind. Unfortunately, they could be
• 50:26
  left get left behind because when the party gets started,
• 50:29
  when the music stops, yeah, you're going to wish you bought
• 50:33
  some Bitcoin anyways. Opti, what's your take on all
• 50:35
  this, brother? Yeah, so First off, 1% fidelity,
• 50:40
  come on, those are rookie numbers.
• 50:42
  We need to pump those numbers up.
• 50:44
  Now obviously you know if if other institutional asset
• 50:49
  managers also followed the same playbook of of essentially you
• 50:53
  know the conservative 1% allocation in their conservative
• 50:57
  fund of Bitcoin, like we're going to see an insane amounts
• 51:00
  of demand coming to Bitcoin and wait what like the dates we were
• 51:04
  saying I I forget who it was you were just quoting Nico was
• 51:07
  saying what like 20-30 or whatever like we're so ahead in
• 51:11
  the Bitcoin playbook that it it's happening so fast.
• 51:14
  I think few people understand what is actually happening
• 51:17
  because you can get caught up in all the noise all the time and I
• 51:21
  think this will also be the norm for everyone out there in their
• 51:24
  conservative funds is just to have a tiny allocation of
• 51:27
  Bitcoin. We've been saying this for a
• 51:28
  long time on not only simply Bitcoin but on Bitcoin Twitter
• 51:32
  at large that like look you don't always have to be a mega
• 51:36
  bull like us bitcoiners, like I would say you should be.
• 51:39
  But just having a tiny allocation, A conservative
• 51:43
  allocation of Bitcoin into any portfolio whether that's like
• 51:47
  one 510%, I think everyone out there will eventually end up at
• 51:52
  that same point. I would you know, say that you
• 51:54
  should probably have more Bitcoin.
• 51:56
  I'd say you should probably only have Bitcoin but hey you know
• 51:58
  I'm a I'm a toxic bitcoiners. So to me Bitcoin is the most
• 52:02
  conservative investment period. Like Bitcoin is the stable coin.
• 52:06
  Bitcoin is the conservative thing that you should be holding
• 52:08
  right now considering if you understand anything going on in
• 52:12
  the Fiat traditional financial world, like you do not want to
• 52:15
  be holding dollars long term. Hence why all of us bitcoiners
• 52:18
  are always saying, you know, go all in hold as much Bitcoin as
• 52:21
  humanly possible because you never know what is actually
• 52:23
  going to happen in the traditional financial world.
• 52:26
  You know they, the Fed, and every central banks around the
• 52:29
  world seem to have engineered a soft landing, but at the same
• 52:33
  time they have completely decimated your savings.
• 52:37
  They've debased the currency and you cannot save in dollars
• 52:41
  anymore. Anyone that is aware of anything
• 52:43
  knows that you do not save in dollars.
• 52:45
  But that just means that that Main Street, the average person
• 52:49
  out there is getting absolutely decimated because they don't
• 52:52
  have capital to invest in real estate or you know assets or
• 52:55
  treasury bonds or maybe they don't even want to Like I'm I'm
• 52:58
  AI would used to be a very adamant just like put my dollars
• 53:01
  under the mattress kind of guy until I realized that all I had
• 53:04
  to do is save in Bitcoin. And so as we see Fidelity do a
• 53:08
  conservative investment of 1% for their fun and now we'll see
• 53:13
  it succeed. I know for a fact we'll see it
• 53:15
  succeed. It's going to unleash a domino
• 53:18
  effect into every other asset manager in the world.
• 53:21
  And they will all have to have a quote, UN quote conservative.
• 53:24
  They won't have a choice. Yeah, exactly.
• 53:27
  Yeah. But at.
• 53:27
  Least 1%. They won't have a choice, 'cause
• 53:29
  they're gonna be embarrassed. They're gonna be taken to
• 53:32
  school, like. And This is why, ladies and
• 53:34
  gentlemen, when we showed you that video of the Chad sailor
• 53:38
  yesterday, like him talking, like making all his theories and
• 53:43
  talking about all his theories about how Bitcoin's a superior
• 53:45
  asset, he purposely put the results, the proof of work,
• 53:51
  right next to him. And it clearly showed that micro
• 53:55
  strategy, strategy, strategy of accumulating Bitcoin and putting
• 54:00
  Bitcoin on their balance sheet was the right effing move,
• 54:04
  right. So it doesn't matter how much
• 54:07
  propaganda, how much spin, how much, whatever you throw at
• 54:10
  this, whatever politicians are going to be able to throw at
• 54:13
  this, it doesn't matter. The numbers speak for
• 54:15
  themselves. You cannot resist bitcoins
• 54:17
  incentives. That's why you have people like
• 54:20
  Larry Fink going from Bitcoin is all.
• 54:23
  It's an index of money laundering, to use his words to
• 54:26
  Fast forward five years later, Bitcoin is actually a flight to
• 54:29
  quality. Like, that's why you have that.
• 54:32
  That's bitcoins, irresistible incentives, and it's an effing
• 54:35
  black hole. It's just going to suck
• 54:37
  everything up. And that's why it's going up
• 54:39
  forever, Laura. Anyways, before we move on to
• 54:42
  the culture, I do want to give a very special shout out to our
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  Anyways, everybody, let's get to the culture.
• 55:27
  We have a lot to talk about the daily culture.
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  All right, guys, so. Usually in the culture, I try to
• 56:26
  propagate the best Bitcoin culture today, we're going to
• 56:29
  kind of have a social commentary on culture at large, popular
• 56:33
  culture. And before I go into this video,
• 56:36
  guys, let's put the politics aside because he's hitting the
• 56:39
  nail on the head. It is the money printer going
• 56:41
  out of control that is hurting every single one of us.
• 56:45
  And I have this video here that's made the rounds this
• 56:47
  morning. It might have aired last night,
• 56:49
  might have hit Twitter last night.
• 56:50
  But this is Stephen A Smith. And if you don't know Stephen A
• 56:52
  Smith is, he's an ESPN Sport sports broadcaster, sports ball
• 56:56
  broadcaster and if he is even seeing the problem guys, I think
• 57:00
  this is just more signs of what we will be seeing happening in
• 57:04
  culture at large. People are starting to feel the
• 57:07
  pain and people are wondering what is going on.
• 57:09
  And as we see it is almost time that we try new ideas.
• 57:14
  It's almost like we start talking, stop talking about all
• 57:18
  the problems and we and we start advocating for solutions.
• 57:21
  And of course here we think the solution is simply Bitcoin.
• 57:25
  Opting out of the Fiat, Madden is selling your dollars for a
• 57:28
  better money, one that cannot be the base, one that they can't
• 57:31
  print more of. So anyways, before we go into
• 57:33
  this, I will compare this to what we heard from Janet Yellen
• 57:37
  this week as well. But let's play this video.
• 57:39
  It is a little long, it's at 1.25, so if I might, I might cut
• 57:44
  it a little short. But here, let's just go to.
• 57:45
  It Wait, wait, wait. Hold on, Opti.
• 57:48
  Why don't you just pull up the clip on my Twitter?
• 57:50
  It's a minute. OK.
• 57:52
  OK. OK.
• 57:53
  Let me do that real quick. All right, guys.
• 57:57
  Sorry I I had the whole long one here for you guys.
• 58:01
  He goes into a lot of different problems going on in the World
• 58:03
  I. Got it.
• 58:04
  You have it. I got it.
• 58:05
  Yeah. All right.
• 58:09
  OK, let's check it out, guys. Here we go.
• 58:19
  How the hell do you print money for foreign countries, but you
• 58:26
  don't print that money to help eradicate folks that are
• 58:31
  starving right here in the streets of America who were born
• 58:34
  and raised here? This is what I'm talking about.
• 58:41
  And so when you have something like that, what's the one way to
• 58:43
  eradicate it? Yes, you got to have a force of
• 58:46
  an economy. Yes, you can't have inflation.
• 58:49
  Yes, you can't be on the verge of the recession.
• 58:51
  Milk don't need to cost $7.00. Bread don't need to cost $5.
• 58:55
  Don't get me started with how much sugar cost.
• 58:58
  You can talk about employment all you want to.
• 59:00
  You can talk about the labor participation rate.
• 59:02
  But guess what? If you ain't making no damn
• 59:05
  money, and you got to get two jobs to pay the same prices, or
• 59:10
  to buy the same amount of stuff that you used to buy, and the
• 59:13
  price is higher than it used to be because of inflation, then
• 59:16
  guess what? What do you really accomplish?
• 59:18
  How the hell do you print money? There we go.
• 59:20
  I mean, dude, wait before we before we fully discuss it,
• 59:23
  though he is a little misguided about like, let's print money
• 59:27
  for average American citizens. I would say that that would also
• 59:30
  accelerate the problem. But he does hit on what we talk
• 59:34
  about here all the time and Nico framed it always as you cannot
• 59:37
  hide the shock of the sticker price at the grocery store and
• 59:41
  everyone is feeling this and everyone is waking up to the
• 59:44
  same thing. And now you're seeing that this
• 59:46
  Bitcoin signal the the things we've been talking about
• 59:49
  constantly is starting to bubble over into popular culture where
• 59:53
  even a sports broadcaster is hitting on the actual problem
• 59:57
  they're printing up scenes amount to money Anyways Nico,
• 1:00:00
  jump in and then let's contrast this to what we saw from Janet
• 1:00:04
  Yellen that that she's trying to stop the solution.
• 1:00:06
  Yeah, so. Like, OK, so it's a step in the
• 1:00:10
  right direction. And the the thing that he
• 1:00:13
  pointed out about how, like how the hell are these?
• 1:00:19
  I call them the bureaucratic elite.
• 1:00:21
  They're using the power of the money printer not to help
• 1:00:27
  everyone else. They're using the power of the
• 1:00:29
  money printer to enrich themselves.
• 1:00:32
  And what bitcoiners have come to terms with is no one deserves
• 1:00:37
  the God like power of being able to create money for free that
• 1:00:43
  another human being, another human being has to work for has
• 1:00:46
  to put time and energy for right.
• 1:00:49
  So the issue isn't necessarily we're print like why aren't they
• 1:00:53
  allocating this money? They're not incentivized to.
• 1:00:56
  Why would they be? They're incentivized to enrich
• 1:01:00
  themselves. They're not incentivized to, oh,
• 1:01:02
  let's put that in this place. If you had the power of the
• 1:01:06
  money printer, what would you do?
• 1:01:08
  I mean, of course you have morals, you have ethics, but do
• 1:01:12
  you believe the people that get to the top of the food, the
• 1:01:15
  political food chain, right, where you, you can even make the
• 1:01:19
  argument that, like moral. Could you make the argument that
• 1:01:23
  some of those people are moral? Right.
• 1:01:25
  I'll ask you guys that question. Right.
• 1:01:28
  And he's identifying that. He's identifying that The thing
• 1:01:32
  is broken inflation. He is one step closer to the
• 1:01:37
  inevitable answer and the inevitable answer to this
• 1:01:41
  problem. All the things that he laid out
• 1:01:43
  his Bitcoin. And he just, he just took
• 1:01:46
  another step closer to finding that answer.
• 1:01:49
  Because what he fundamentally asked, maybe it wasn't a direct
• 1:01:54
  question, but he asked the same question, which is what is
• 1:01:58
  money? That's what he asked.
• 1:02:00
  Like like what is going on here? Why is this?
• 1:02:04
  And he's talking, why is the price of milk?
• 1:02:06
  Hey Mr. Smith, that price is not going back down.
• 1:02:13
  Even if they get, even if they make inflation slow down that
• 1:02:17
  you're never going to get that $3.69 gallon of milk anymore.
• 1:02:23
  That's gone. That's done and dusted.
• 1:02:26
  And essentially what happened is they stole time and energy and
• 1:02:30
  work and effort. That's what they did.
• 1:02:35
  Because essentially what this is this is doing is that this is
• 1:02:38
  delaying your ability to eventually buy that house.
• 1:02:43
  This is making you work twice as hard just to buy the same goods.
• 1:02:49
  But like we've shown you with the very useful websites priced
• 1:02:53
  in Bitcoin is that if you save in Bitcoin, even if they do
• 1:02:59
  this, it does not matter. That gallon of milk for you
• 1:03:03
  actually gets it actually gets cheaper.
• 1:03:06
  So it's just a matter of time before influential figures like
• 1:03:11
  that person start to figure out that, holy cow, this isn't about
• 1:03:17
  fixing the government or electing the right person into
• 1:03:20
  office. This is about choosing the right
• 1:03:24
  money, not the right candidate. Anyways, so all of this is
• 1:03:29
  happening. Yeah, wait, wait, Nico, before
• 1:03:32
  we do that, there is a good question here and and we
• 1:03:34
  definitely just touched on it and he goes, what's a comment?
• 1:03:36
  I had listened to you guys for Bitcoin, not for politics and we
• 1:03:38
  say it all the time guys, it's not left versus right, it is
• 1:03:41
  orange versus green. And we're hitting on the
• 1:03:44
  fundamental issue here going on in the world.
• 1:03:46
  It's the insane and obscene amount of money printing that
• 1:03:50
  they are using or creating out of thin air the cantalon effects
• 1:03:53
  happening in real, real time. This is what it all boils down
• 1:03:56
  to. It's the money guys.
• 1:03:58
  It doesn't matter what side of the aisle you are on, we are all
• 1:04:01
  getting poorer because they're printing insane amounts of
• 1:04:04
  money. All right.
• 1:04:05
  Now, 100% and before, before we play and because we're going to
• 1:04:08
  do a compare and contrast, right, Which is before we play
• 1:04:10
  this, the Yes, you're right, this is not, this is a Bitcoin
• 1:04:14
  show. It's not a political show.
• 1:04:16
  Bitcoin itself is apolitical. It's the money of enemies.
• 1:04:19
  It's money for everyone. But what what it will enable is
• 1:04:24
  extremely political and you can shy away from that.
• 1:04:28
  You can say, hey, you know, that's wrong.
• 1:04:31
  No, it's not. This is the separation of money
• 1:04:33
  and state. And just like the separation of
• 1:04:37
  church and state, of course the incumbent is not going to be OK
• 1:04:42
  with that. That's why we played you that
• 1:04:44
  video of Barack Obama. This is why we're going to play
• 1:04:47
  this video of Janet Yellen in a second, right?
• 1:04:50
  So if you're not aware of what the other team is doing, it's
• 1:04:54
  not left versus right. It's not a blue versus red.
• 1:04:57
  It's it's green versus orange. The party of nihilism, slavery,
• 1:05:03
  poverty control, which is Fiat money versus the party of
• 1:05:07
  orange. The party of peace, prosperity,
• 1:05:10
  decentralization. The optimism.
• 1:05:13
  That's really the battle at hand, right?
• 1:05:15
  Nolan did a great job kind of summarizing this.
• 1:05:18
  Anyways, I'm gonna get off my soapbox.
• 1:05:20
  Yeah, yeah. Let's hear, let's hear what
• 1:05:22
  Janet Yellen has to say. You know, obviously you hear,
• 1:05:25
  you know, Stephen A Smith being a little bit frustrated with all
• 1:05:28
  the money printing. Let's see what the elites in
• 1:05:32
  power the, you know, the the the I forget what they're called the
• 1:05:37
  the leadership class. Let's see what they're thinking
• 1:05:39
  about. Council is focused on digital
• 1:05:42
  assets and related risks such as runs such as from runs on crypto
• 1:05:48
  asset platforms and stable coins, Potential vulnerabilities
• 1:05:54
  from crypto asset price volatility and the proliferation
• 1:05:59
  of platforms acting outside of or out of compliance with
• 1:06:04
  applicable laws and regulations. Applicable rules and regulation
• 1:06:10
  should be enforced and Congress should pass legislation to
• 1:06:15
  provide for the regulation of staple coins and of the spot
• 1:06:19
  market for crypto assets that are not securities.
• 1:06:23
  We look forward to continuing to engage with Congress on this.
• 1:06:29
  With this overview, I look forward to taking your questions
• 1:06:33
  on these and counselors. So I'm like, look, look, look
• 1:06:36
  like, hold on a second, hold on a second.
• 1:06:37
  Can you pull this down? So like, like, I'm like, 'cause
• 1:06:41
  the only difference is, like, like, the only difference is
• 1:06:44
  like she's like standing. And like, you know, maybe I
• 1:06:46
  should have wore a jacket or something.
• 1:06:48
  Dude, we need suits. It's like hold on with the paper
• 1:06:52
  and like the stuff like Congress should stop printing fucking
• 1:06:57
  money they don't have and making everyone poorer.
• 1:06:59
  And they should pass regulations so that they don't print money
• 1:07:03
  and they stop spending money they don't have at the cost of,
• 1:07:08
  you know, everyday Americans, specifically the lower, you
• 1:07:11
  know, the younger generations, the millennials and the Gen.
• 1:07:14
  Z ers bashing the papers. That's what Congress should do.
• 1:07:18
  I don't think Congress is going to be able to do that.
• 1:07:21
  So I'm just going to opt out entirely.
• 1:07:23
  This is what they're focused on. They're focused on attacking the
• 1:07:28
  competition because she mentioned something she said
• 1:07:30
  crypto assets that are not securities, Bitcoin regulations
• 1:07:35
  on stable coins and spot. Why?
• 1:07:39
  Why? How about you just stop printing
• 1:07:42
  money? How about you stop sending
• 1:07:43
  billions of dollars to fund foreign wars that that money
• 1:07:48
  isn't free? That's coming out of the pockets
• 1:07:51
  of everyday Americans. And this is, by the way, this is
• 1:07:54
  of course me and Opti live in the US So we're talking about it
• 1:07:57
  from this point of view. But the reality is that this is
• 1:08:00
  happening worldwide. Any government that has a Fiat
• 1:08:03
  currency, a local Fiat currency, they're doing this.
• 1:08:07
  And the farther away you get from, you know, the developed
• 1:08:11
  world like the, the United States, Europe, the UK,
• 1:08:16
  Australia, et cetera, et cetera, that have relatively stable Fiat
• 1:08:20
  currencies that don't steal from you quite enough for you to ask
• 1:08:23
  the very fundamental question, what is money, even though that
• 1:08:26
  question is already being asked? You know, this, you know, you,
• 1:08:31
  you speak to a Venezuelan, You speak, you know, to someone in
• 1:08:34
  Turkey, They'll tell you, yeah, the, the my local currency is
• 1:08:39
  Dog S, right. So, yeah, I mean, look, we can
• 1:08:44
  both play that game. The only difference is that
• 1:08:46
  she's hiding behind, right, this seal of authority.
• 1:08:50
  But in reality, like, you guys dropped the ball.
• 1:08:53
  You screwed our generation and Bitcoin is our way out.
• 1:08:57
  And now you're trying to use Christine Lagarde's own words
• 1:09:00
  and you're trying to close the escape hatch, that escape valve.
• 1:09:03
  That's really what you're What you're trying to do has nothing
• 1:09:07
  to do with protecting the consumer.
• 1:09:10
  You didn't protect the consumer in 2008.
• 1:09:12
  You guys protected the big banks.
• 1:09:15
  So I'm sorry if I just don't believe you.
• 1:09:18
  I don't believe Janet Yellen and I don't believe Barack Obama.
• 1:09:21
  I've seen you guys freeze bank accounts for political reasons.
• 1:09:26
  I don't believe you anymore. It's time for Bitcoin.
• 1:09:29
  It's time to try something new. I'm sorry you guys burned all
• 1:09:34
  the goodwill, all the trust. You guys lied.
• 1:09:38
  And the worst part about it is that you didn't even acknowledge
• 1:09:41
  that you were lying. You'd rather just gaslight us
• 1:09:43
  instead. So I'm sorry.
• 1:09:46
  I'm sick of it. It's over.
• 1:09:47
  It's done. I'm trying Bitcoin.
• 1:09:49
  You can have fun with your paper.
• 1:09:51
  I'm going to. I'm going to stick to Bitcoin.
• 1:09:53
  That's my take. Before I go on, I'm, I'm glad
• 1:09:58
  you brought up the Chrissy Lagarde escape hatch quote
• 1:10:01
  because I was going to mention the same thing that was just a
• 1:10:03
  bunch of fancy words by Janet Yellen to essentially say the
• 1:10:07
  same thing, is that they do not want you to use something that
• 1:10:11
  they cannot control, that they cannot debase.
• 1:10:13
  And also let's not forget that she was kind of talking very
• 1:10:17
  favorably about stable coins and you know, basically
• 1:10:19
  proliferating the digital dollar.
• 1:10:21
  She's like, yeah, this is a good thing, but there's not these non
• 1:10:24
  security things we need to clamp down on that.
• 1:10:27
  And it just goes to show that the people in power who are
• 1:10:31
  vested with the authority to keep you safe, healthy and
• 1:10:35
  wealthy can't do any of these things.
• 1:10:38
  And now we we seem to be getting to a point that we saw in
• 1:10:42
  history of the Roman Empire where the political class is
• 1:10:46
  just out here trying to loot and gaslight you as quickly and
• 1:10:50
  efficiently as possible and they don't want competition out here.
• 1:10:54
  And obviously the competition for currencies, we're seeing the
• 1:10:57
  currency wars happen in real time.
• 1:10:59
  And of course we think it is Bitcoin.
• 1:11:02
  We think there are new ideas out there.
• 1:11:04
  There's a solution to this problem and and of course it is
• 1:11:07
  Bitcoin and seeing the comparison and and the dichotomy
• 1:11:13
  going on here where average everyday people like look,
• 1:11:16
  Stephen A Smith is a wealthy person, wealthy and I would say
• 1:11:19
  even influential person and even he is seeing the problems going
• 1:11:23
  on out there. Everything is getting more
• 1:11:25
  expensive. They can't control inflation and
• 1:11:28
  then we have the political class basically saying yeah you guys
• 1:11:31
  don't deserve a solution. Trust us bro.
• 1:11:33
  We have this under control when in reality if you are paying
• 1:11:37
  attention and you watch this show regularly, you know they
• 1:11:39
  have lost control and they are in full panic mode trying to
• 1:11:44
  manipulate the information so that the average person just
• 1:11:47
  basically goes down with the ship.
• 1:11:48
  And it's absolutely ridiculous. And hence why we are simply
• 1:11:52
  Bitcoin and we believe in Bitcoin, and we're seeing more
• 1:11:55
  and more signs that people are leaving the Fiat circus and they
• 1:11:59
  want to try a new idea. I'm wholly convinced that the
• 1:12:02
  pendulum is swinging the other way and people are tired of
• 1:12:05
  being lied to. They're tired of being stolen
• 1:12:08
  from. They are sick and tired of being
• 1:12:10
  sick and tired, as the meme goes.
• 1:12:13
  And there's a solution. It is Bitcoin, guys.
• 1:12:15
  It's, you know. This is why I think this year is
• 1:12:17
  going to be very important for every single one of us to not
• 1:12:20
  only Uncle Jam, our friends and family, but to continue to
• 1:12:23
  propagate the memes and continue to spread the ideas of freedom
• 1:12:28
  that start with freedom. Money as the base. 100%
• 1:12:31
  Beautifully said, Beautifully said.
• 1:12:33
  Bars for Opti Bro. Bars.
• 1:12:35
  Bars it, bro. Motherfucking pause.
• 1:12:40
  I want to give a shout out to all our live viewers.
• 1:12:42
  Between all the platforms, Rubber Rubber Rumble, Twitter
• 1:12:46
  and and YouTube, we had over 500 live viewers today.
• 1:12:50
  We wouldn't be here without you guys.
• 1:12:52
  So we really appreciate you guys.
• 1:12:54
  Thank you so much for tuning in. Appreciate you guys smashing the
• 1:12:57
  like button on all the platforms for our audio listeners on your
• 1:13:01
  favorite audio podcasting platform.
• 1:13:03
  Shout out to you guys as well. If you guys can't watch the live
• 1:13:06
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• 1:13:08
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• 1:13:10
  Spotify, Fountain, whatever it's it's your choice.
• 1:13:14
  They're all good. And of course, join our Telegram
• 1:13:16
  group. We're at 1000 people in our
• 1:13:19
  Telegram group. You can go to T dot me slash
• 1:13:21
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• 1:13:23
  People are always posting funny ass memes so you can check it
• 1:13:27
  out. And of course, if you want us to
• 1:13:28
  check out the written version of this show, go to simply Bitcoin
• 1:13:33
  dot News and that will take you directly to our sub stack and
• 1:13:37
  you can see some of our writings by Opti, by Rasmus, and shout
• 1:13:43
  out Zach. Zach is dropping hot fire every
• 1:13:45
  once in a while. So yeah, and it's absolutely
• 1:13:48
  once in a while, every week, basically every week.
• 1:13:50
  Boom. Shout out to.
• 1:13:51
  Zach So. So yeah, check us out on there
• 1:13:53
  guys. We love you all.
• 1:13:54
  Thank you so much for tuning into another episode of Simply
• 1:13:56
  Bitcoin Live. If you feel like we provided you
• 1:13:58
  value, consider subscribing. Drop us a like we love you all.
• 1:14:01
  Spread this content. Spread all Bitcoin content.
• 1:14:04
  We must take over the culture win over hearts and minds one
• 1:14:08
  person at a time. Anyways, I'm your host Nico,
• 1:14:11
  this is my legendary Co host Optimus Fields and we back
• 1:14:13
  tomorrow for another episode of Simply Bitcoin Live.