Latest / Simply Bitcoin / Does Strategy even move Bitcoins price? (Saylor's Explanation might surprise you) | EP 1504

Transcript

Does Strategy even move Bitcoins price? (Saylor's Explanation might surprise you) | EP 1504 · Simply Bitcoin

• 0:01
  MicroStrategy has bought over 818,000 Bitcoin over the past
• 0:07
  six years, but Michael Saylor just said that they have like
• 0:11
  little to no impact on the price at all.
• 0:14
  How can this be true? They've nearly bought 4% of the
• 0:18
  total supply and currently seem to be the only big buyer left in
• 0:22
  the market. And while everyone's been hyper
• 0:25
  focused on Saylor talking about selling some Bitcoin, he might
• 0:29
  have just revealed how little impact strategy actually has on
• 0:34
  the price of Bitcoin. So Nikko played the first
• 0:37
  portion of this clip yesterday from Coindesk, and I'm glad he
• 0:40
  didn't hit the the actual meat of the video here.
• 0:43
  So I have a video today. So here's a clip.
• 0:47
  It's a short clip and it's going to give us a lot to talk about
• 0:50
  here. So again, coming from a Coindesk
• 0:52
  interview, I think there's a lot of signal in here.
• 0:55
  Again, very short though. The whole reason we're confident
• 0:59
  about Bitcoin is because it's a global market.
• 1:01
  We've we have announced we're going to buy 42 billion of
• 1:06
  Bitcoin. The market goes nowhere.
• 1:08
  We have literally bought 200 million an hour.
• 1:11
  The market does not, the price does not move up.
• 1:14
  We have stopped buying. We have bought 200 million an
• 1:17
  hour for four hours and turn it off and the price trades up, you
• 1:23
  know, and, and so the truth is the market has its own dynamic
• 1:27
  and we are a part of it, but we're definitely not driving the
• 1:32
  price. It's really more driven by
• 1:34
  macroeconomics, I think. It's we've been hearing that a
• 1:38
  lot from everyone. We've been hearing that a lot
• 1:41
  from everyone and you, you, I, I've seen the clip.
• 1:44
  So let's get your initial reaction and then I'll go in
• 1:46
  through going kind of the more generic or not generic, but the
• 1:50
  more prevailing narrative here that I saw on Twitter.
• 1:54
  And then I have an interesting chart to kind of explain exactly
• 1:57
  what Sailor was saying. So Nico, let's get your off the
• 1:59
  RIP 'cause I know you just saw this.
• 2:02
  So I just had a meeting this morning.
• 2:04
  I can't be specific on who I had the meeting with, but I'll just
• 2:09
  say that Tradfi is here, ladies and gentlemen.
• 2:13
  And Michael Saylor just dropped a golden nugget in that
• 2:18
  interview. And shout out to Coindesk again
• 2:21
  for for organizing it. He said the quiet part out loud,
• 2:26
  bro. He said that as soon as we stop
• 2:29
  and they're testing this, as soon as we stop buying the the
• 2:32
  $200 million worth of Bitcoin, what happens?
• 2:36
  The price starts going up. So what does that tell me?
• 2:39
  That tells me that I think Wall Street is I, I I, Like I said, I
• 2:45
  came back from a meeting. I came back from a Tradfi
• 2:50
  meeting. Boom.
• 2:52
  Damn dude, the suit confirmed. And what what I'm, what I'm what
• 2:57
  I'm getting at is it seems like Wall Street is counter trading
• 3:02
  sailor. And the other part about the
• 3:05
  macroeconomics aspect of it, I had an interview with Arthur
• 3:08
  Hayes. It went out last night.
• 3:10
  If you guys checked it out, he said that basically the price of
• 3:14
  Bitcoin is literally the only thing that matters to number go
• 3:19
  up is money go up. So the more they print is
• 3:23
  literally the only factor that Arthur Hayes believes is
• 3:28
  actually the thing that is driving the price.
• 3:32
  So it's interesting to see Saylor and Arthur Hayes, 2
• 3:36
  billionaires, very successful entrepreneurs, business builders
• 3:41
  come to that same conclusion. But again, there's a part of me
• 3:44
  that's a little bit like that's interesting where they they're
• 3:48
  testing this because I'm sure MicroStrategy was asking the
• 3:51
  same question that us at simply were was asking, which is like,
• 3:55
  wait a second, if they're buying all of this supply, why is the
• 3:59
  price not going up? And again, that's the data point
• 4:03
  here is as soon as they stop buying, the price starts going
• 4:08
  up. So that tells me that again, I
• 4:11
  think there is some very sophisticated players.
• 4:14
  Well, it doesn't have to even be that sophisticated.
• 4:16
  He's been telegraphing all of these buys, basically.
• 4:19
  Well I mean it is sophisticated in the sense that dude like they
• 4:22
  have to have some type of trading algorithms that are
• 4:25
  counter trading sailor buying the price.
• 4:27
  And a lot of capital. And a lot of capital.
• 4:30
  So this tells me that Wall Street is here.
• 4:34
  And it also tells me Arthur Hay's thesis is, listen, at at
• 4:38
  this point, you know, when we first got into Bitcoin, like,
• 4:41
  things like breaking news would make the price go up.
• 4:44
  Like, that was the big deal, right?
• 4:47
  I think right now we're at a point in Bitcoin's history where
• 4:51
  I think the only piece of breaking news that would like
• 4:54
  move the needle would be if Trump manages to, you know,
• 5:00
  really announce the strategic Bitcoin Reserve, which we
• 5:02
  haven't really heard a lot of. Or again, the Clarity Act
• 5:07
  passing into law, right? We had the executive chairman of
• 5:10
  Hive Digital Technologies, Frank Holmes, AKA Bulldog Holmes on
• 5:14
  Twitter and he was saying, listen, if the Clarity Act
• 5:17
  passes, like we're going to see $250,000 Bitcoin.
• 5:20
  And I think that comes because of, again, the regulatory
• 5:23
  clarity that this bill is going to provide to traditional
• 5:28
  financial institutions in the United States.
• 5:31
  And if you guys know anything about where most of the lion's
• 5:36
  share of the world's wealth is, it's in the US financial
• 5:40
  markets, right? Wall Street is here, they're
• 5:43
  counter trading sailor. Eventually though, I like to
• 5:47
  bring up the beach ball analogy, which is you could put that
• 5:51
  beach ball, you can lower it down as long as you want, but
• 5:54
  eventually when you let that go, what happens to the beach ball?
• 5:58
  It explodes up. And I think what they're doing
• 6:01
  really is that they're just again, putting that beach ball
• 6:04
  lower and lower and lower and they're holding it down.
• 6:07
  They're holding it down, they're holding it down.
• 6:09
  And I really think Opti, it's so that they can pack their own
• 6:13
  bags. That's really, that's really my
• 6:15
  thesis. It's like Wall Street knows that
• 6:17
  it was late. Wall Street knows that it was
• 6:20
  late, but Wall Street is playing Wall Street games in order to
• 6:22
  make sure that they have sizable positions so that when the next
• 6:27
  run up happens, they start to benefit from it as well.
• 6:30
  Again, that's my thesis so far. For the last two weeks, I've
• 6:34
  been more right than I've been wrong to the point that like
• 6:37
  literally the day that I say something, the day that I say
• 6:42
  something on the live show, the next day something happens that
• 6:45
  confirms my thesis, right? So my base case thesis is this.
• 6:50
  The main driver of Bitcoin's price going up is money printing
• 6:54
  at this point at the size of the asset.
• 6:56
  That's base case one. Base case 2 is Sailor saying the
• 7:00
  quiet part out loud, Like look, we we turned off the switch.
• 7:03
  We kind of wanted to find out what was happening and then the
• 7:06
  price would run up. It doesn't make sense.
• 7:08
  It does make sense. Wall Street is counter trading
• 7:11
  Sailor. Wall Street is here.
• 7:13
  I think they want to get their bags filled before the
• 7:16
  inevitable Bitcoin price starts to run up again and here's the
• 7:19
  other thing about Bitcoin guys that I think you guys should
• 7:22
  know at this point, which is the success in the the the the rise
• 7:27
  of bitcoin's price is it it's it's binary right?
• 7:30
  Either Bitcoin goes to 0 or it continues to go up right and
• 7:34
  it's the Knuts van Holm's famous meme, right?
• 7:36
  It's Infinity divided by 21 million.
• 7:39
  All right, I'll I'll all buttoned up the.
• 7:43
  Shirt No, dude, you gotta you gotta take buttons down.
• 7:46
  That's how you do that. I was trying to get comfortable
• 7:48
  before the show. You gotta do what I do and do
• 7:51
  three buttons off. I don't know.
• 7:52
  If I could do that, man, I. Gotta I gotta do it I.
• 7:54
  Gotta hit the gym anyway, I gotta grow some chest hair or
• 7:57
  something, you know? Anyways, anyways, 1st I'm going
• 8:02
  to maybe add a little, you know, data point to what Nico is
• 8:06
  saying, even though personally I, I think I heard something
• 8:10
  different, but to add a data point to you, what you're
• 8:12
  saying, it is very interesting. Remember a couple of weeks ago
• 8:16
  we've all been talking about, oh, it looks like James St. was
• 8:19
  shorting Bitcoin. It looks like they're
• 8:21
  manipulating the Bitcoin price, trying to suppress the Bitcoin
• 8:23
  price. At least that's what we all
• 8:26
  attributed, right? That that was kind of the
• 8:28
  direction that all the data was pointing towards.
• 8:30
  And then they got sued for, I, I forget in what market, but they
• 8:35
  got sued for manipulating markets.
• 8:38
  And then shortly thereafter Bitcoin wasn't getting the 10 AM
• 8:42
  slam every morning. And ever since that news came
• 8:45
  out that James St. was getting sued for suppressing markets, it
• 8:48
  seems like Bitcoin has had some life into it.
• 8:51
  So there is a data point to essentially back up what you're
• 8:54
  saying. It's not only just one data
• 8:55
  point. Well, I know, I know we had AI
• 8:57
  didn't kill it. The CEO of.
• 8:59
  High Yeah, the 1010 crash. Describe what caused the Bitcoin
• 9:04
  price to crash in in October of 2020 five 100%.
• 9:09
  He was literally talking about a specific hedge fund that was
• 9:13
  doing a specific play that caused the whole market to
• 9:17
  collapse. So again, this goes into my
• 9:18
  thesis listen, Wall Street makes a tremendous amount of money
• 9:23
  when the price goes sideways, right?
• 9:27
  Like that, that volatility between 79,000 and 81,000 or you
• 9:32
  know, that channeling again, there, there's so many tools
• 9:36
  that they can use to just make money off of that volatility
• 9:41
  that, that, that very condensed type of volatility.
• 9:44
  So listen, this is just part of Bitcoin growing up.
• 9:48
  Eventually, you know, number will go up.
• 9:50
  It's again, it's a, there's a, there's a, you guys have heard
• 9:53
  this 1000 times. There's a cap supply, there's
• 9:54
  only 21 million. The having insurers every four
• 9:58
  years the amount of Bitcoin mined gets cut in half.
• 10:01
  So like you know, eventually something's got to give and I
• 10:04
  think something's got to give eventually to the upside and
• 10:07
  it's giving. But this confirms what Sailor's
• 10:10
  saying Opti, maybe you disagree. This just confirms to me Aiden's
• 10:15
  case about October 10th. This confirms the James St.
• 10:19
  theory, right? I think that there is some very
• 10:22
  big players that have a tremendous amount of capital.
• 10:24
  Who else has this type of capital?
• 10:27
  It's Wall Street that again, they're getting exposure to
• 10:30
  Bitcoin, they're benefiting from Bitcoin, they're benefiting from
• 10:34
  this channeling. And right now guys, you are not
• 10:37
  trading against human beings. The the, the era of retail
• 10:40
  trading with Bitcoin, which was I would say the happier era
• 10:43
  where you got that traditional blowout off top, the euphoria
• 10:46
  phase, whatever. I think that I think that air is
• 10:49
  gone, man. I think now what you're going.
• 10:51
  To start to see you get bearish, you get bearish that's.
• 10:54
  Crazy. I'm not saying that, bro.
• 10:56
  Remember when Mauricio, remember when Mauricio came on the show
• 10:58
  and he described it? He described it perfectly.
• 11:01
  He's like, now what we're going to start to see is you're going
• 11:03
  to start to see kind of like this ladder up rather than that
• 11:06
  traditional euphoric, boring run up, right?
• 11:10
  So yeah, I mean, this is uncharted territory.
• 11:13
  And then simultaneously, while all of this is happening, ladies
• 11:16
  and gentlemen, there's a war going on in the Senate right
• 11:19
  now. I'm saying that metaphorically
• 11:22
  right now, there's a hearing going on on digital assets.
• 11:25
  There's 426,000 people watching it live.
• 11:31
  And Mike Germano describes it perfectly, says there are 400.
• 11:35
  There are 426,000 people from all over the world watching live
• 11:40
  as a full as a room full of 65 year olds debate Bitcoin, open
• 11:45
  source code and defy. There is breaking news too.
• 11:49
  But not not going to lie, this is the most this is exciting and
• 11:53
  the most beautifully nerdy way possible.
• 11:56
  God, we're such nerds. Anyways, there there there is
• 11:58
  breaking news coming out of that.
• 11:59
  But I do want to finish this story real quick and and I think
• 12:03
  I don't necessarily disagree with you.
• 12:04
  I think it's a this and that is happening from my big take away
• 12:09
  of what Sailor said is like, you know, Bitcoin is a macro asset.
• 12:13
  As we all know, Bitcoin is a global phenomenon.
• 12:16
  And even though we are Americans and we are very American focused
• 12:20
  and we consider Bitcoin in the context of how US embraces
• 12:24
  Bitcoin. Obviously since Trump went into
• 12:26
  power and we got this whole US push for regulatory clarity in
• 12:31
  Bitcoin, we have been very US focused.
• 12:34
  But if you've been in Bitcoin for a long time, you know, this
• 12:36
  is a neutral global money. Everyone in the world can
• 12:40
  participate in Bitcoin. So it is a macro asset.
• 12:43
  And one of the things that I have been saying that has been
• 12:46
  kind of thinking my or changing my thinking around where we
• 12:49
  currently are is the fact that, yes, the institutions are here
• 12:53
  and what do they look at? They're looking at macro factors
• 12:55
  as they trade Bitcoin. They still consider Bitcoin a,
• 12:59
  you know, risk on asset. So if risky uncertain things
• 13:03
  happen or rather if uncertainty happens in the global markets,
• 13:06
  usually they sell Bitcoin. So as I've been trying to say in
• 13:10
  various ways on the show, so we are no longer in a retail driven
• 13:15
  cycle as Nico and I 100% agree on.
• 13:18
  But what we are starting to see is Bitcoin mature into this
• 13:22
  macro asset. And in that grander broader
• 13:26
  macroeconomic landscape, Bitcoin does obviously not get affected
• 13:32
  by one single entity. And that's the beauty of it.
• 13:34
  That's one of the best parts about Bitcoin is, you know, if
• 13:37
  you've been around for a while, you know that Bitcoin can pump
• 13:40
  during the US market opens. And then usually when we go to
• 13:43
  sleep, there's the kind of meme of the Kimchi premium where it's
• 13:47
  like the Koreans used to always take in and they would pump the
• 13:50
  price or the Asian markets wake up and then the price would do
• 13:54
  what it what whatever they think is going to happen at that
• 13:56
  moment. We see that happen as well with
• 13:58
  European time. So you can, you can literally
• 14:00
  chart the Bitcoin price based on the various markets around the
• 14:04
  world. And it's kind of like a, you
• 14:09
  know, the, the Western Bitcoiners will take the baton
• 14:12
  and then we'll pass it over to our brothers on the other side
• 14:15
  of the, of the, the pond. And then they'll pass it off to,
• 14:19
  you know, the Eastern world, eastern part of the globe.
• 14:22
  And then it just cycles around. So we all know if you've been in
• 14:25
  Bitcoin for a long time, yes, Bitcoin isn't just dominated by
• 14:28
  one U.S. company. Bitcoin isn't just dominated by
• 14:31
  the US markets. But as we will cover in a
• 14:34
  minute, there is a huge impact of what happens in the US
• 14:38
  because we are the financial capital of the world.
• 14:40
  We do have the majority of the wealth and that does ripple into
• 14:43
  every other markets. Now the other thing going back
• 14:47
  here 'cause I do want to flush this out a little bit, even
• 14:49
  though there is some pressing breaking news currently
• 14:51
  happening. I see everyone in the chat, huge
• 14:53
  breaking news. We will cover that right right
• 14:55
  after the commercial break. One of the big prevailing things
• 14:59
  and I saw it mainly from trolls. It was I saw a funny tweet and I
• 15:04
  and I didn't I didn't like it, but it, but it really stuck with
• 15:06
  me. It was something like sailors
• 15:08
  buying all the Bitcoin and Coinbase is just selling them
• 15:11
  Bitcoin. So I think the prevailing view
• 15:13
  from a lot of cynics is like, oh, sailors not actually buying
• 15:16
  Bitcoin, then Coinbase is just selling them Bitcoin.
• 15:19
  This 818,869 Bitcoin is like it's all paper Bitcoin.
• 15:25
  They're not actually buying Bitcoin.
• 15:26
  Now, obviously, I, I personally don't think that's the case.
• 15:29
  I think we can pretty clearly see on the on chain metrics that
• 15:33
  the ETFs and the public corporations are actually
• 15:36
  scooping up that much Bitcoin, though.
• 15:38
  This chart here from James Van Stratton, who is of course also
• 15:43
  at Coindesk, I think really sheds light on exactly the
• 15:47
  phenomenon that we're seeing. And he tweets and he goes MSTR
• 15:50
  purple, which let me zoom in here is this little sliver.
• 15:53
  Actually, Nico, maybe you can Fact Check me.
• 15:56
  Is this. Purple this little.
• 15:58
  Sliver here, I'm pretty sure that's purple and then it goes
• 16:01
  and the ETFs which is green, which you can barely see here, I
• 16:05
  believe is the ETFs are rounding errors compared to the blue long
• 16:10
  term holders spending or selling which can swing 50 billion to
• 16:14
  $100 billion, which is exactly what Sailor said.
• 16:17
  There's about $50 billion of liquidity per day.
• 16:20
  You know, Sailor in total holds about 50 billion.
• 16:24
  I think it's closer to like 60, 6065 billion currently,
• 16:29
  depending on how much stretch is buying today.
• 16:33
  And so in that context, what Sailor does, even though he's
• 16:37
  been one of the biggest buyers, he's been the headline news for
• 16:40
  years at this point. And it does seem, and I maybe I
• 16:43
  have to eat a little, you know, get a little cake on my face
• 16:46
  here because it does seem at least from an intuitive level
• 16:48
  that sailors basically the only one buying Bitcoin currently.
• 16:52
  I've been saying for a while it seems like Sailor may have with
• 16:55
  the Stretch product saved us from a prolonged brutal bear
• 16:59
  market. But anyways, it it does seem
• 17:02
  like that. To be determined.
• 17:04
  I yeah, yeah, yeah, yeah. To be determined.
• 17:06
  Anyways, he's quote tweeting here and everyone's obviously
• 17:09
  been asking for a while. It's like, look, Sailor's been
• 17:11
  buying a a it as this says a glob shit ton of globs of
• 17:17
  Bitcoin and yet the price isn't moving and we got James here
• 17:21
  going like the gobs of Blick blobs.
• 17:25
  A bit of buying narratives are just headlined, but get utterly
• 17:29
  dwarfed by the overall market. Sailor obviously in the clip
• 17:32
  that we were playing acknowledges that it's just a
• 17:34
  fraction of the global liquidity.
• 17:37
  And if you look at these charts, it's very clear that no matter
• 17:41
  what Sailor does, it's still a very small portion of the amount
• 17:44
  of Bitcoin being bought. And I know the chat for a while
• 17:48
  has been like, look, if Sailors buying billions of dollars of
• 17:51
  Bitcoin every single week or every other week or whatever,
• 17:56
  you know, whatever he announces, he announced $42 billion of
• 17:58
  Bitcoin buys and the price isn't going anywhere.
• 18:01
  For a while there we did have really good data of it just
• 18:05
  looked like a lot of OG selling. Remember the 100K kind of price
• 18:08
  point? I still think I think it's that.
• 18:10
  Well, I, I do agree. I mean, the chart is basically
• 18:13
  saying that we, we still see a lot of selling happening right
• 18:17
  now. But on the flip side, it's also
• 18:19
  look, it's just one person in the market.
• 18:21
  And that is the beauty of Bitcoin.
• 18:23
  There's not one person that can actually control Bitcoin and in
• 18:27
  the face of us entering this institutional phase, this, you
• 18:32
  know, politician phase, maybe they can be considered one in
• 18:35
  the same. It does go into the narrative
• 18:37
  of, oh, or maybe with Larry Fink's coming into Bitcoin, we
• 18:41
  all kind of had this moment where we had to ask ourselves,
• 18:45
  it's like, OK, with the amount of buying we're seeing from
• 18:47
  these institutions, can they actually control Bitcoin?
• 18:52
  And the further we go out from January 2024 to 20252026, it
• 18:59
  should become clear to a lot of newer people in the space that
• 19:02
  it doesn't matter how much Bitcoin is being bought.
• 19:06
  The majority of Bitcoin is held in individuals hands.
• 19:08
  And so this has always been a part of the process of Bitcoin
• 19:12
  going mainstream, a Bitcoin taking over the world, a Bitcoin
• 19:15
  basically Trojan horsing its way into Wall Street.
• 19:19
  Yes, they can buy a lot of Bitcoin, but in the grand scheme
• 19:23
  of things, not one single entity can actually control Bitcoin.
• 19:27
  Hence why the decentralized money thesis is still as strong
• 19:31
  today as it's ever been. But it is interesting that the
• 19:34
  headlines pick this up all the time.
• 19:36
  It's like, oh, you know, sailors the only one buying.
• 19:39
  Oh, sailors selling. One of the biggest bulls in
• 19:42
  Bitcoin is selling Bitcoin. Bitcoin must be over.
• 19:44
  And it's like, no, it's literally a tiny portion of the
• 19:49
  global activity on Bitcoin. And so as we keep progressing
• 19:53
  and as Bitcoin gets bigger and as the market cap gets even
• 19:56
  bigger, this example, what we're showing right now, well,
• 20:00
  obviously lessen it, it it's going to become a non story very
• 20:04
  quickly. But in the current moment, where
• 20:06
  we are as Bitcoin matures, as Bitcoin grows up, it is
• 20:09
  interesting how so many of us get this, I don't know, visceral
• 20:13
  fear, visceral negative reaction towards this idea of a huge
• 20:18
  convicted buyer coming into the space?
• 20:22
  When I every time I say convicted, I always think of
• 20:24
  like someone going to jail. I I don't know if I'm using that
• 20:27
  word correctly right there. Someone with huge conviction
• 20:29
  coming into the market to buy Bitcoin.
• 20:33
  It's not going to change the Bitcoin thesis.
• 20:35
  Maybe that's that's what I was going to.
• 20:37
  I said a lot of nothing to get to that point.
• 20:39
  But anyways, Nico, maybe we want to shorten this segment because
• 20:43
  we do have breaking news right now.
• 20:44
  So do you want to, you want to, you want to add more or do you,
• 20:47
  you, let's just kind of let's get the show.
• 20:48
  Guys, I think, I think we, I think we covered it thoroughly.
• 20:52
  So yeah, we do have breaking news and I'm debating should we
• 20:56
  cover that breaking news now? Yeah.
• 20:58
  Well, no, no, no, no. Just hit all.
• 21:00
  Right. We're going to be right back
• 21:02
  after the break. You guys are going to want to
• 21:04
  stay tuned again, we got huge breaking news coming out of
• 21:09
  Capitol Hill and we're going to cover that right after the
• 21:12
  break. Again, bullish new, I mean
• 21:13
  depends, depends on how you want to look at it, but definitely
• 21:16
  bullish from a regulatory perspective and a number go up
• 21:20
  perspective. So we're going to cover what is
• 21:22
  going on with the Clarity Act. Big breaking news, this just.
• 21:27
  Massive. Breaking, massive breaking.
• 21:29
  This just happens while the show has been live, so you guys are
• 21:32
  going to want to stay tuned. We're going to cover it right
• 21:34
  after the break. Stay with us.
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  se-ed.com store. All right, ladies and gentlemen,
• 23:49
  I'm going to at the time of recording the Bitcoin prices
• 23:51
  81,740 sats per dollar 1223. And again, if you're buying
• 23:56
  Bitcoin right now, you're getting it at a 35% discount.
• 23:59
  Forgive me for rushing through that, but I do have to cover the
• 24:03
  breaking news that happened while simply Bitcoin live was
• 24:06
  live is live. The Clarity Act has advanced out
• 24:11
  of the Senate Banking Committee. That's a major step, but it does
• 24:18
  not make the bill law yet. What needs to happen?
• 24:21
  The bill moves toward Senate consideration, where it is
• 24:25
  expected to need 60 votes to advance.
• 24:28
  Like I've been telling you guys over the last couple days, the
• 24:30
  Senate debates, amends, and votes on it.
• 24:33
  With August seen as a key window before recess, the congressional
• 24:37
  calendar and other priorities make the bill harder to advance.
• 24:41
  The House and Senate must agree on the same final text.
• 24:45
  The final bill goes to the president, a key step forward
• 24:49
  for digital asset market structure in the US.
• 24:53
  But the process is not over yet. Again, if you take a look at the
• 24:57
  Poly market odds against they're, they're once again up
• 25:01
  from 60%, which was yesterday and they're back up to 71%.
• 25:06
  So the betting odds where people have money on the line currently
• 25:11
  $863,000 worth of volume, a lot of people are placing a big bet
• 25:17
  on this. There's a 71% chance the the
• 25:20
  bettors believe, and again they have money at stake, that the
• 25:24
  Clarity Act is going to pass and get.
• 25:28
  Do we just need to yellow that? Poly market, we should just
• 25:31
  yellow, yes, it's going to pass. I'm not endorsing that.
• 25:35
  So specifically, it was a 15 to 9 vote to advance the Digital
• 25:42
  Asset Market Clarity Act. And again, it was warfare.
• 25:46
  They were going back and forth between the Bitcoin Senator,
• 25:50
  Senator Cynthia Lummis, and of course Senator Elizabeth Warren,
• 25:54
  which again is not a big fan of this whatsoever. 2 points here
• 25:59
  and it kind of changed my mind after I started.
• 26:01
  I kind of changed my mind a little bit after speaking with
• 26:03
  Arthur Hayes, right? Originally I was just like,
• 26:07
  listen, they don't want to pass this because, and again, I, I
• 26:10
  still think this to be true. They don't want to pass this
• 26:12
  because they want a central bank digital currency.
• 26:15
  But as Arthur Hayes opened my eyes to this, this viewpoint
• 26:19
  yesterday, we have to remember that Sam Bankman freed was the
• 26:23
  poster boy to use his words for the Democrats in passing this
• 26:28
  law specifically, right? I mean, sorry for, for the whole
• 26:32
  crypto movement as a whole. And again, it made them look bad
• 26:35
  when Sam Bankman Freed ended up being a huge scammer.
• 26:39
  So to try to save face a little bit, they kind of had to do a
• 26:42
  180 and they had to crack down hard on the regulations because
• 26:46
  again, this all happened under the Biden administration's
• 26:49
  watch. And again, one of the biggest
• 26:50
  donors was Sam Bankman Freed, which ended up being a scammer.
• 26:55
  So if you take a look at like where the where the money flows
• 26:59
  went, Sam Bankman Freed was scamming people.
• 27:02
  So he's taking people's money and then he used that money to
• 27:05
  to donate it back to the Democratic Party.
• 27:07
  It wasn't just the Democratic Party.
• 27:09
  He donated to Republicans as well.
• 27:11
  But again, they had to, of course, to save face.
• 27:13
  So that's a very, I didn't say that.
• 27:15
  So that's a very, very good point from Arthur Hayes.
• 27:19
  Anyways, I do want to show you guys some clips from the battle
• 27:23
  that was happening during this committee.
• 27:26
  Senator Lummis was going back and forth with Senator Warren.
• 27:29
  I'm going to start with Senator Warren's clip 1st and then we'll
• 27:33
  check out Senator Cynthia Lummis response.
• 27:35
  So let's check it out. While we're at war, Iran is
• 27:40
  openly gearing up to collect crypto fees from oil tankers to
• 27:45
  pass through the Strait of Hormuz.
• 27:49
  What did I tell you? I told you specifically that was
• 27:52
  going to be used as ammunition. And that's exactly what
• 27:57
  Elizabeth Warren tried to do in the Senate Banking Committee.
• 28:02
  It didn't work. It passed 15 to 9.
• 28:05
  Here is Senator Lummis response again.
• 28:08
  Shout out to the Bitcoin Senator.
• 28:12
  Regard to anti money laundering and illicit finance, it creates
• 28:16
  risk based exam standards. It expands Treasury Special
• 28:20
  Measure Authority to act swiftly against foreign money
• 28:23
  laundering. It creates studies on mixers and
• 28:26
  tumblers. It requires annual Treasury
• 28:29
  reports on foreign jurisdictions compliance with US AM LCFT
• 28:34
  standards. It requires recurring Treasury
• 28:38
  reports on offshore stable coins.
• 28:41
  It requires mandatory educational materials on digital
• 28:45
  asset risks. Insider resale restrictions to
• 28:50
  prevent pump and dump schemes. It has timely disclosure
• 28:54
  requirements. Broker deal insolvency
• 28:57
  disclosures of federal regulatory floor for crypto
• 29:01
  kiosks. This is very important.
• 29:03
  This has been a problem in my state.
• 29:06
  Tokenized securities remain securities under SEC
• 29:10
  jurisdiction. FTC authority over unfair or
• 29:14
  deceptive practices. 30 million per year through 2031 for FinCEN
• 29:22
  with regard to fraud and AML provisions.
• 29:26
  Temporary holds for suspicious activities and preventing those
• 29:30
  who place the holds from having private causes of action.
• 29:36
  It applies BSA regulation to digital asset brokers, dealers
• 29:40
  and exchanges. This list goes on and on.
• 29:44
  This is a pro law enforcement bill.
• 29:49
  Again, Senator Lummits going in there prepared to counter
• 29:54
  Elizabeth Warren's points, which is like, listen, like as it
• 29:58
  stands right now, we don't even have any of these enforcement
• 30:02
  actions. We, we don't even know what's
• 30:04
  going on with, you know, with the digital asset space where we
• 30:09
  don't even have the tools to monitor this stuff.
• 30:11
  And Elizabeth Warren is saying, listen, like we can't even pass
• 30:14
  this because, you know, Iran said, hey, listen, we're going
• 30:18
  to receive money in Bitcoin. And the way that Senator Warren
• 30:21
  very intelligently so countered that was like, look, the bill is
• 30:25
  just going to help us even more to counter, you know, these
• 30:29
  potential things. But what I will address on this
• 30:32
  though, is that fundamentally the protocol still still remains
• 30:37
  rules without rulers. It's it's not going to stop the
• 30:40
  peer-to-peer aspect. Where I think that this is going
• 30:43
  to apply the most is specifically from off and on
• 30:47
  ramps. So if you're transacting, if
• 30:49
  you're switching your Bitcoin to U.S. dollars, again, there's
• 30:53
  going to be a lot more enforcement actions that the
• 30:57
  government will be able to take. And again, you know, depending
• 31:02
  on how you want to look at that, obviously from the kind of
• 31:06
  cypherpunk libertarian perspective, you're like,
• 31:09
  listen, Nico, first of all, Bitcoin doesn't need this.
• 31:11
  Even Arthur Hayes said this, Kent said this.
• 31:13
  I'm saying this. Ultimately, Bitcoin doesn't need
• 31:16
  the clarity act to for, for it to succeed.
• 31:20
  Bitcoin doesn't need the clarity act for number to go up.
• 31:23
  Arthur Hayes said it perfectly. He's like, listen, Bitcoin went
• 31:26
  up during the Obama administration.
• 31:28
  There's a very, very famous clip of Barack Obama saying, listen,
• 31:31
  not everybody can have Swiss bank accounts in their pockets.
• 31:34
  Of course, he's referring to Bitcoin in self custody and
• 31:37
  number went up regardless of whether it's Obama, Trump or
• 31:41
  Biden, right? We actually had the biggest
• 31:43
  gains under those administrations where there was
• 31:46
  no regulation in the 1st place, right?
• 31:49
  So you can't make the argument that, hey, you know, Bitcoin
• 31:51
  needs this, but you can make the argument, which is why I'm
• 31:55
  trying to to be as neutral as possible with my reporting right
• 31:58
  now, that from a entrepreneurial perspective, if you are a
• 32:04
  business in the United States, domiciled in the United States,
• 32:08
  or if you're a big institution looking to get into the Bitcoin
• 32:12
  space, this is going to provide you regulatory clarity and most
• 32:17
  importantly regulatory air cover.
• 32:20
  So if there is a change in administration, they can't do an
• 32:24
  Operation Choke .3 point O type of situation because there is
• 32:29
  legislation on the book specifically.
• 32:32
  And not only does that legislation talk about the
• 32:34
  enforcement aspects, I think Senator Lummus brought that up
• 32:37
  specifically to counter Elizabeth Warren.
• 32:40
  But most importantly, what I'm paying attention to as a
• 32:43
  Bitcoiner are the self custody protections, are the open source
• 32:50
  developer protections. That's what I care for as a
• 32:54
  Bitcoiner. All the other things as it
• 32:57
  relates to defy, as it relates to, as it relates to stable
• 33:02
  coins, as it relates to crypto as a whole, as a Bitcoiner, I
• 33:07
  don't really care. So what's the key take away here
• 33:10
  before I pass it on to Opti? The key take away here is this
• 33:14
  from a if you are a Bitcoin business in the United States is
• 33:18
  very bullish from a number go up perspective also very bullish.
• 33:23
  Does this matter for Bitcoin? Does the protocol need this?
• 33:28
  Absolutely not no. Does number go up need this?
• 33:32
  Absolutely not no. Do you as a Bitcoiner who's
• 33:35
  holding Bitcoin in spot in yourself custodial wallet, do
• 33:39
  you need this? No, absolutely not, right.
• 33:43
  So again, you have to look at it from two different perspectives
• 33:47
  because two things can be true at the same time.
• 33:51
  And this is a perfect segue to introduce our very special guest
• 33:55
  today, the founder and CEO of Bitcoin.
• 33:59
  Well, we have Adam O'Brien joining us in the house today.
• 34:03
  Adam, how you doing man? We're covering American politics
• 34:06
  today because that's every that's the only thing everyone's
• 34:09
  talking about right now, which this is the clarity act That's
• 34:12
  it currently going in the bill currently being discussed in on
• 34:17
  Capitol Hill. So Adam, welcome to the show,
• 34:19
  dude. Always a pleasure having you on.
• 34:21
  And of course, Adam's merch is so effing fly freedom Maxi
• 34:26
  showed off Adam, please. Obti's wearing it.
• 34:30
  Absolutely, bro. So Adam, how you feeling, dude?
• 34:34
  How you doing? Are you?
• 34:34
  Are you even paying attention to this stuff?
• 34:36
  Are you like Nico? Who cares, dude?
• 34:38
  Because every single Bitcoin entrepreneur like I had art, I
• 34:40
  talked talked to Arthur Hayes yesterday, Adam, right?
• 34:42
  We talked to Kent from SAS mining and every single Bitcoin
• 34:46
  entrepreneur when I talked to him about the clarity actor like
• 34:48
  Nico, like we don't care. Bitcoin doesn't need this.
• 34:52
  Like this is irrelevant. Like why are you even talking
• 34:54
  about this, right? But there's nuance there, right?
• 34:57
  Again, if you're a Bitcoin business domiciled in the US,
• 35:00
  this is good for you from a number go up perspective.
• 35:02
  You could say it's good for you, but does it matter for you as a
• 35:06
  Bitcoin or the people that are watching this show that are
• 35:08
  holding Bitcoin in self custody? Absolutely not, Doesn't matter.
• 35:11
  So Adam, welcome to the show bro.
• 35:13
  Happy to have you back on. Thank you, Sir.
• 35:15
  No. Yeah.
• 35:16
  Listen, I, I have to admit I don't pay a lot of attention to
• 35:21
  American politics, probably honestly, to my detriment to my
• 35:25
  demise. I probably should pay a little
• 35:27
  bit closer attention so I know what the heck all you crazy
• 35:29
  people are talking about. But you know, up here in Canada,
• 35:32
  we just have no freedom. We have no clarity around
• 35:36
  anything. So I, I feel a little sad when
• 35:39
  I, when I look at, you know, all you guys having, you know,
• 35:42
  clarity act and all you guys having freedom in Canada, you
• 35:46
  know, if you look at a moose the wrong way, they lock you up for
• 35:48
  a couple years. So it's, it's a challenging, you
• 35:51
  know, it's, it's, it's a challenging time, but.
• 35:53
  But, but let me, let me add a little bit, let me add of to, to
• 35:56
  borrow from Opti, let me add a little bit of optimism, right,
• 35:59
  because I have been paying attention to what's happening
• 36:01
  specifically in Alberta, right? The the freedom movement is
• 36:06
  accelerating. I believe the amount of
• 36:08
  signatures that were signed for Albertan independence, it
• 36:13
  reached the threshold. Is that correct, Adam?
• 36:15
  Yeah, it was through the roof. But here's the crazy thing.
• 36:17
  It was through the roof and it and they called it off earlier
• 36:21
  than they originally said. So we got more signatures faster
• 36:26
  than was originally allowed. However, they're pulling some
• 36:29
  kind of like Uno reverse card here saying that we didn't talk
• 36:33
  to the native people, but then you weren't allowed.
• 36:37
  But as far as I know, you're not allowed to talk to the native
• 36:40
  people until you've got approval to go ahead because the naval,
• 36:45
  the native people will just be like, well, is this even going
• 36:47
  to happen? Why are we wasting our time and
• 36:49
  money on this? And so it's like, we were like,
• 36:52
  get signatures, talk to the native people.
• 36:53
  And then it's like, OK, here's the signatures.
• 36:55
  And then it's like, well, you didn't talk to the native
• 36:56
  people. And so there's just this charade
• 36:59
  going around. The judge, some kind of judge
• 37:01
  said it wasn't good, but then the premier said that she didn't
• 37:05
  care and that she was going to put it on the ballot anyways.
• 37:07
  And so, dude, it's a mess. It's a joke.
• 37:11
  The whole thing just reminds me that I stacked sats for my last
• 37:14
  name as Minor Opty's shirts say. And yeah, you know what?
• 37:19
  And on that note, I, I tweeted this this morning, but I'm just
• 37:21
  so proud that I wanted to send it out this morning.
• 37:23
  Our kids have this habit where in the morning they come in to
• 37:26
  bed and we have our cuddles and our, we talk about our dreams
• 37:28
  and the day and whatever. And so my daughter comes in,
• 37:30
  she's usually 1st and she comes in and, and we're, you know,
• 37:33
  chatting, whatever. And she's like, oh, dad, what's
• 37:36
  your favorite day? And I was like, I don't know, I
• 37:39
  think Sunday's a nice day. Like we usually have like some
• 37:41
  good steaks, you know, it's pretty chill.
• 37:43
  Go to church, whatever. She's like, Nope, Saturday,
• 37:46
  Saturday. I was like, nice, that is my
• 37:51
  last name stack and SAT just like her little grin her like
• 37:55
  the delivery of the joke was perfect.
• 37:57
  It was out of nowhere to it was a great way to wake up.
• 38:00
  And so, yeah, that's, I don't know how I got there, but here
• 38:04
  we are. That's amazing, first of all,
• 38:07
  and it's, and I want to dive deeper into that topic, right?
• 38:10
  Like guys, we are like the first generation, right?
• 38:14
  We were born into a world where Bitcoin didn't exist, right?
• 38:18
  But the next generation and, and Adam, I'm, I'm far behind you,
• 38:21
  but I'm, I'm joining you on this parenthood experience and it's
• 38:24
  been crazy. I'll give you guys a little bit
• 38:26
  of a Side Story, right? We, we went to visit Adam in,
• 38:29
  in, in Canada and 1st it was like, listen, it's a great idea.
• 38:33
  Let's travel with our toddler, right?
• 38:35
  My wife and I don't do that anymore, right?
• 38:37
  But we didn't know we're new parents and we go visit Adam in
• 38:41
  Canada and we have this amazing time and Adam was an amazing
• 38:45
  host. And my daughter gets a fever.
• 38:47
  My wife, my, my wife's freaking out.
• 38:50
  Adam goes into full parent mode. He's like, I know exactly how
• 38:53
  she feels. All right, Sophie, we're going
• 38:55
  to take care of this. We're going to do this, we're
• 38:56
  going to do that. So the reason I'm bringing all
• 38:59
  this up is the next generation are going to be the people that
• 39:04
  grow up in a Bitcoin native world, right?
• 39:07
  And that story, Adam, gives me so much hope and optimism for
• 39:11
  the future because you know for sure that when your daughter
• 39:16
  gets older and my daughter's as well, they're going to be like,
• 39:19
  hey, listen, Bitcoin or slavery, Bitcoin slavery.
• 39:22
  We're we're not like we're not, we're not talking about any of
• 39:25
  that. OK, you can.
• 39:27
  You can keep though that that paper if you want, but I'm going
• 39:30
  to keep. My Bitcoin, it's probably going
• 39:33
  to be way more obvious that it is Bitcoin or slavery when our
• 39:38
  kids are our age. I was, I was on, I was on this
• 39:43
  podcast yesterday with a group of people.
• 39:46
  They're a media company that works solely with, not for
• 39:49
  profits. And so they do like creative
• 39:50
  work for these not for profits. And they were just asking me
• 39:53
  like, why does a not-for-profit need Bitcoin?
• 39:56
  And I, I gave them all the reasons, you know, sound money
• 39:59
  aligned incentives. Like there's actually a whole
• 40:01
  host of reasons why even if they don't accept Bitcoin and
• 40:04
  not-for-profit should be very excited about the Bitcoin
• 40:06
  standard, because I think under the Bitcoin standard, humans are
• 40:09
  most likely to donate money to causes they believe in.
• 40:13
  But I said at this point in time, you know, a not-for-profit
• 40:17
  especially. Their margin is 100% right.
• 40:19
  They are stewards of the money. They're not like trying to build
• 40:23
  a product and earn revenue and stuff.
• 40:24
  They are literally pitching a vision and then taking money
• 40:28
  from people promising that vision to fruition.
• 40:30
  And I said at this point in time, you better have a really
• 40:34
  good answer as to why you are not adopting Bitcoin because
• 40:38
  you're going to have to look your donors in the eye and say,
• 40:40
  Nah, we traded this for melting ice cubes.
• 40:42
  We traded this for some, for some, you know, fly flash in the
• 40:46
  pan. Government bond on a government
• 40:48
  system that was obviously failing.
• 40:49
  You know, we ignored this generational asset that
• 40:54
  governments were, you know, jumping into that Wall Street
• 40:57
  has jumped into that countries like, like actual small
• 41:01
  countries are just adopting as currency.
• 41:04
  We ignored that. And I was like, you should have
• 41:06
  a really good reason to ignore that so you can look your donors
• 41:10
  in the face and tell them why your balance sheet sucks in 10
• 41:13
  years. And I think that was a good that
• 41:15
  hit home. Yeah, absolutely.
• 41:17
  I didn't even and think about that.
• 41:19
  That's so true, Adam, right, because these non for profits
• 41:22
  are are receiving the big ones, right?
• 41:24
  They're 10s of millions of dollars on a yearly basis.
• 41:28
  And again, they're for purposes, right?
• 41:30
  They're they're for specific reasons, like Charlie Kirk's
• 41:33
  organization, for example, that was a non for profit or it is it
• 41:36
  is a non for profit, right. And that's a really good point.
• 41:39
  Like these hundreds of millions, which I'm, I'm assuming a lot of
• 41:42
  it is just sitting there in a bank, right?
• 41:45
  Like it is a melting ice cube, right?
• 41:47
  So it gets to a point where like if you're a donor, you're like,
• 41:50
  specifically. And I think this is going to
• 41:51
  change, right? As as a bigger percentage of the
• 41:54
  high net worth population ends up being bitcoiners.
• 41:57
  Like I think that the questions are going to be like, listen,
• 42:01
  yeah, I'll donate to you. Sure.
• 42:02
  You know, I'll give you, you know, you know what?
• 42:05
  I'll give you $100. I'll give you, you know, $1000.
• 42:09
  What is it going to be in Bitcoin?
• 42:11
  Are you going to keep it in Bitcoin?
• 42:12
  Right. So, and, and that's how we
• 42:14
  change the culture. That's really, really how we
• 42:16
  move the needle. So anyways, ladies and
• 42:18
  gentlemen, we got Adam O'Brien on the show today.
• 42:21
  It's going to be a great show. I want to talk to Adam
• 42:24
  specifically as the CEO of a publicly traded company, how he
• 42:28
  feels about essentially Wall Street really getting
• 42:31
  traditional finance, really getting into Bitcoin.
• 42:34
  Has it changed market dynamics? Adam's essentially an OG.
• 42:38
  Adam, you've been at this since 2013.
• 42:41
  You've been at this for a long, long time.
• 42:43
  And you've built, you've built a amazing company in the process,
• 42:46
  right? So I really want to get your
• 42:48
  perspective on this. We're going to be right back
• 42:51
  just after the break. Ladies and gentlemen, stay tuned
• 42:53
  in. I want to give a shout out to
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  Bitcoin because it's not your Bitcoin if you don't.
• 45:08
  Adam O'Brien. Let's talk about traditional,
• 45:10
  the traditional markets. Listen, man, it's kind of been a
• 45:13
  little bit of a sea change, right?
• 45:15
  And you are the CEO of a publicly traded company.
• 45:19
  Like what are the dynamics here, right?
• 45:21
  Like we, we played a clip in the beginning that really kind of
• 45:24
  caught me off guard. By the way, I'm I'm literally
• 45:27
  wearing this right now because I had a Triad 5 meeting in the
• 45:30
  morning, so. You're looking kind of nice.
• 45:33
  Your hair is looking like. I might have taken a shower
• 45:37
  today too. And.
• 45:39
  I didn't, I didn't want to be I literally did not want to be
• 45:42
  escorted out of the building, right.
• 45:43
  So I was like, okay Sophie, like what should I wear?
• 45:47
  But anyhow, so Adam like, and, and going back to the Sailor
• 45:52
  clip, Sailor said something really interesting, which again,
• 45:55
  like Opti and I have been going back and forth.
• 45:57
  We we kind of disagree a little bit.
• 46:00
  Sailor basically said like, listen, like our buys aren't
• 46:02
  really moving the price very much.
• 46:05
  But what we found was we started tinkering a little bit and as
• 46:09
  soon as we stopped buying to was it 200 million a day?
• 46:12
  Is that what he said? He said 200 million an hour. 200
• 46:15
  million an hour. That's wow.
• 46:17
  OK, 200 million an hour, right? We're we're Oh my God.
• 46:21
  Anyhow, 200 million an hour. He's like, as soon we just, we
• 46:24
  just stopped. We just flicked the switch and
• 46:26
  we stopped doing that. The price started to go up.
• 46:29
  And then that leads me to a conclusion like Wall Street must
• 46:32
  be playing some games right now. Adam, what do you think?
• 46:35
  Like what's going on? Like has Bitcoin been captured
• 46:38
  by Wall Street? Adam O'Brien.
• 46:40
  Yeah, yeah. I mean you.
• 46:42
  Know the. Protocol, I, I think the
• 46:44
  protocol's fine. I think Bitcoin, the promise,
• 46:47
  the, the philosophy, the theology of Bitcoin,
• 46:50
  everything's sound. But I think at this moment in
• 46:53
  time, we're going to look back on it and think, oh wow, that
• 46:57
  was centralization. That was manipulation.
• 46:59
  That was a bunch of people who are known for manipulating and
• 47:02
  moving markets for their own benefits, manipulating and
• 47:05
  moving markets for their own benefits.
• 47:06
  I don't think it should be a surprise that, you know, we let
• 47:09
  the wolf into the chicken coop and we're wondering why there's
• 47:12
  feathers everywhere. This is kind of just how it
• 47:15
  works when Wall Street, when the people who are literally in
• 47:19
  charge of the financial market, they will have this illusion
• 47:21
  that the financial markets is some kind of free open market
• 47:26
  that we all level, you know, level playing field that we all
• 47:29
  just participate in in order to save our money.
• 47:32
  That's kind of how it's pitched to us, right?
• 47:34
  You have your investment advisor, he has a little bit of
• 47:36
  an edge because of some special information that he has.
• 47:40
  Or he's got a cousin and an uncle that have been doing this
• 47:43
  for a long time. And they have the crystal ball
• 47:45
  that's going to make sure that you and your family stay
• 47:48
  wealthy. But the reality is the financial
• 47:51
  market is a completely captured economy with very few people in
• 47:56
  charge of gatekeeping the good information.
• 48:00
  And those people have caught on to the fact that Bitcoin is a
• 48:06
  real asset that is worth manipulating, which is a good
• 48:10
  thing. I think that for the short term,
• 48:14
  that means crazy volatility as we've been been seeing, but also
• 48:18
  it means that there's going to be a select few people getting
• 48:22
  unfathomably rich because of that movement.
• 48:26
  Bitcoin is in this weird spot right now where it's like, it's
• 48:28
  a big asset, right? It's a 1.51 point $6 trillion
• 48:32
  asset. That's like 98 trillion Canadian
• 48:36
  or something crazy like that. So it's a it's, it's, it's, it's
• 48:38
  pretty wild. I'm being facetious, obviously,
• 48:41
  but we've got this massive asset that exists that is completely
• 48:46
  in its infancy. And we used to see these ten
• 48:51
  2030% movements in a day in Bitcoin.
• 48:55
  And I think that's honestly what Wall Street, Wall Street's
• 49:01
  coming in on the tails of that because they're able to make
• 49:04
  their gains without, you know, moving the market and having it
• 49:08
  be obviously manipulated. And so for a moment in time
• 49:11
  here, the next couple of years, as Bitcoin continues to grow, it
• 49:16
  will continue to be manipulated. And we have to do 2 things.
• 49:19
  We have to, one, stay grounded in the fact that the
• 49:22
  fundamentals of Bitcoin hasn't changed.
• 49:24
  Physics don't change. Markets will be manipulated, but
• 49:28
  the fundamental physics will always reign true over a long
• 49:32
  time period. So Bitcoin, I believe still,
• 49:35
  even amidst the manipulation #1 asset to own, sell your house
• 49:40
  and buy Bitcoin, sell your, you know, sell your, sell anything
• 49:44
  that you think cannot outperform Bitcoin from a freedom or from
• 49:51
  a, from a financially financial preservation perspective.
• 49:57
  But then the other thing that I think we should be looking at is
• 50:00
  how, how does Wall Street act right now?
• 50:04
  You know, looking at Sailor, for example, Sailor and I think
• 50:08
  today Seda, I forget what that company's called drive, Drive
• 50:14
  13% yeah, 'cause they 'cause they pay their dividends out
• 50:19
  daily. And so they're effectively, and
• 50:21
  then they, and then that compound and so they're, they're
• 50:23
  effectively paying 13% only to buy Bitcoin.
• 50:27
  Think about this. We have a company willing to
• 50:31
  pay. I don't know what the rates are
• 50:32
  like in US, but in Canada they're like 2% on like a high
• 50:37
  interest savings account. So we have a company willing to
• 50:39
  pay 600% more for. Your.
• 50:43
  Dollars, right? They are literally dangling all
• 50:47
  of the cookies in front of you being like, give us your dollars
• 50:51
  and you're like, this is a great deal.
• 50:52
  My dollars suck. Of course I'll give them to you.
• 50:55
  What are you gonna doing? You must have some crazy
• 50:58
  research team. You must be putting this money
• 50:59
  into some crazy, you know, spaceship exploration that I
• 51:04
  couldn't possibly do. You must have some elite farm of
• 51:09
  scientists researching the next ground breaking thing.
• 51:12
  Why would you possibly pay me this premium on my dollars?
• 51:16
  You know, what is this great opportunity that you have that I
• 51:18
  don't have? And like, we're buying Bitcoin.
• 51:23
  What? But but I can buy Bitcoin,
• 51:25
  right? Like, yeah, yeah, you can buy
• 51:26
  Bitcoin. And they're like, so, so you're
• 51:28
  going to pay me 600% more than anybody else in the whole world,
• 51:33
  and you're going to buy Bitcoin. It's like, why wouldn't you just
• 51:36
  go buy Bitcoin? You know, look at what the
• 51:39
  market is telling you. It is so obvious.
• 51:42
  We have people who have unlimited access to money paying
• 51:47
  you an unholy rate of return to buy Bitcoin.
• 51:53
  Just buy Bitcoin yourself, ladies and gentlemen, just do
• 51:56
  the right thing. Buy Bitcoin, stack stats, self
• 51:59
  custody, like these are all the things that the rich, wealthy
• 52:02
  manipulators are doing. And for the first time in
• 52:05
  history, you can do it too. Absolutely 100 level.
• 52:10
  Oh yeah, I got the air horn. This is so.
• 52:12
  Good A level levels the playing field 100%.
• 52:15
  And, and what's interesting, Adam, is that the, the reason
• 52:17
  that they're able to get away with that is because of the
• 52:20
  information asymmetry. Because if the market actually
• 52:23
  knew, right, what we all know as Bitcoiners, right, then no one
• 52:28
  would be lending the money in the 1st place, right?
• 52:32
  People would be like, yeah, I'm just, I'm just going to buy spot
• 52:35
  myself. Like, why do I need this, right?
• 52:37
  But again, from their perspective, they're like, Oh
• 52:39
  no, we're removing the risk from you.
• 52:41
  We're removing the yeah, they're removing the risk, but they're
• 52:44
  also removing the upside for you as well, right?
• 52:47
  So it's very important to talk about that.
• 52:50
  Is there upside? No, I'm drilling.
• 52:54
  I'm drilling, but the the risk of the upside I would argue like
• 52:57
  they say CPI is 3% or 4, whatever they say, but that's
• 53:02
  like ours. Just came in at 3.8.
• 53:04
  Bro yeah, like it's not 3 point. Show me, show me any price from
• 53:09
  March or what may from May 2025 and show me like and like of the
• 53:15
  things that you are right, TV's are down.
• 53:17
  It's like you idiot, like that's technology.
• 53:19
  Like show me an Apple, show me an egg, show me gas, show me
• 53:23
  something that is 3.8% higher. It's it doesn't exist.
• 53:28
  It's it's closer to 10 or 11. I, I would argue with like any
• 53:32
  ounce of logic. I think you're seeing that and
• 53:34
  so. I think it's been, Madam, not to
• 53:36
  cut you off, keep going, but I think it's been average at least
• 53:38
  in the US, it's about like 8% a year is kind of like.
• 53:42
  It's like real inflation. That's like the real inflation,
• 53:44
  yeah. So that so that checks out to
• 53:46
  me. So like this 11% all of a sudden
• 53:48
  is not that great. It's just helping you stay, keep
• 53:51
  your head slightly above, above water.
• 53:55
  And and hey, you know what, 3% preservation, a 3% bonus on
• 53:59
  preserving your wealth is pretty good.
• 54:01
  But I would again, when you consider the factors like, you
• 54:06
  know, financial capture, freedom, even changing rules in
• 54:11
  the future, is that 3% benefit worth that stuff when when you
• 54:19
  when you like, worth the risk of that stuff happening when you
• 54:22
  compare it to again, just Bitcoin, just do the thing that
• 54:26
  they're doing. These guys are programmed.
• 54:29
  They've programmed the game to win.
• 54:32
  And for the first time in history, you can do the same
• 54:34
  things they do. It's like, what are we even
• 54:37
  talking about here? Yeah, it the the information
• 54:41
  asymmetry is crazy, man. And Adam, I think we still have
• 54:44
  a ton of work to do from an educational standpoint to get
• 54:48
  the message out. And I think it's what what I've
• 54:51
  come to realize is like this isn't just, you know, more
• 54:55
  media, more podcasts, like more this.
• 54:57
  It's like literally it, it literally has to be a cultural
• 55:02
  shift, right? And that requires music, that
• 55:05
  requires movies, that requires TV shows, that requires podcast,
• 55:09
  that requires, you know, it's a, it requires everything, right
• 55:13
  for people to really actually have that mind shift.
• 55:16
  But you know, and, and kind of weaving back in what we were
• 55:19
  talking about earlier, you know, what's actually going to move
• 55:22
  the needle the most? It's going to be the next
• 55:24
  generation. It's going to be the next
• 55:26
  generation of kids that were raised by Bitcoiners because
• 55:30
  they're already going to know right from the gate.
• 55:32
  They because there's an element of if you grew up in the
• 55:36
  traditional financial system, and I've seen this time and time
• 55:39
  again, you have to unlearn a lot of things before you get to a
• 55:44
  point where you have the humility to truly appreciate
• 55:47
  what Bitcoin is versus the blank slate, right?
• 55:51
  Versus the example that Adam gave earlier on with his
• 55:55
  daughter coming in and saying, Hey, you know what my favorite
• 55:57
  day is Saturday, right? Like, you know that she's going
• 56:01
  to be hard because you know she's going to be a maxi, right?
• 56:04
  So that I think that's really what's what's going to what's
• 56:08
  going to move the needle. It's it's the all the efforts
• 56:10
  that we're doing on everybody who's making media, everyone
• 56:13
  who's making music, everyone who's making, again, moving the
• 56:16
  cultural needle for Bitcoin. It's going to be that, but it's
• 56:20
  also going to be the next generation of bitcoiners that
• 56:23
  are, again, right from the RIP. They're already going to know
• 56:26
  the money's fake. That's I think too, why it's so
• 56:28
  important for us as Bitcoiners who are now at the age having
• 56:32
  like when I found Bitcoin, I was 20 years old, right?
• 56:34
  I wasn't having any kids. I was, I mean, I, I was married,
• 56:37
  but we were super young and maybe I actually got married
• 56:39
  after I found Bitcoin. So I was like, I was a teenager
• 56:41
  when I found Bitcoin, right then we grow up.
• 56:43
  We, we, we mature, we, you know, understand what the, how the
• 56:47
  world works and, and what's going on.
• 56:48
  And now we have kids and lucky for me that my time preference
• 56:53
  is, is, is lowered than it was, you know, before I found
• 56:56
  Bitcoin. And part of that could be
• 56:57
  maturing. But I, I, I know a lot of people
• 57:00
  who are older than me that are stuck in the legacy financial or
• 57:04
  the Fiat system who have a much higher time preference than than
• 57:08
  I do, or at least I perceive them to, to do so.
• 57:10
  And so when I, when I talk to my daughters, when I talk to my
• 57:13
  sons, we're talking about how do we make the world a better
• 57:16
  place? How do we actually look into the
• 57:18
  future and, and, and do that? And I think that's why it's so
• 57:22
  important that we have these conversations that the people
• 57:26
  because the next generation is cooked if they're not LED
• 57:29
  properly. And we need to be leading this
• 57:32
  generation, this group of of upcoming individuals in order to
• 57:38
  have the right things at their disposal.
• 57:40
  And I think, yeah, I mean, the Bitcoiners are doing a great job
• 57:43
  of that. I don't see a lot of other
• 57:44
  groups that are selflessly raising the next generation and
• 57:52
  that troubles me deeply. Absolutely, absolutely, man.
• 57:55
  But I think at the end I think we're going to win.
• 57:59
  I think a lot of us underestimated the hill that we
• 58:02
  had to climb on in the beginning.
• 58:04
  Maybe it was a little bit of a utopian vision, but you know, we
• 58:09
  do have to put in the work. We do have to put in the time.
• 58:11
  And again, this isn't, this doesn't just fall to a single
• 58:14
  individual. This is, this is a combined
• 58:17
  effort. A lot of us, right, Because a
• 58:20
  lot of us, some people don't, some people won't connect with
• 58:23
  us, right? Some people connect with other
• 58:25
  people, right? There's a language barrier as
• 58:27
  well, right? Not everyone in the world speaks
• 58:29
  English, right? So it's like it needs to be this
• 58:31
  collaborative effort that it happens organically because of
• 58:35
  bitcoins incentives, right? And I think eventually, as time
• 58:38
  progresses, that moves the cultural needle.
• 58:41
  And then I think what we're going to get to, you know, that
• 58:44
  that flashpoint, right, where like there's there's more
• 58:47
  Bitcoiners, right? Then there are people that
• 58:49
  believe in the Fiat system. And I think once that reaches
• 58:53
  maybe like 25 to 30% of the population, I think really
• 58:58
  that's when things are going to shake up a little bit, ladies
• 59:01
  and gentlemen. Think it is right now.
• 59:04
  Less than 1% to be like true bitcoiners.
• 59:08
  Less than 1% Maybe there's 100,000 of us worldwide.
• 59:11
  Like actual people that believe like.
• 59:14
  Wait, you said 100? 100,000 I don't think there's
• 59:18
  more than 100,000 of us that actually believe.
• 59:20
  I I think I. Believe in the philosophy, are
• 59:23
  taking self custody, are running nodes.
• 59:26
  You know, I think there's 100,000 maybe, but I don't think
• 59:30
  it's more than that. But I think again like it's,
• 59:33
  it's always very difficult in the beginning and then that
• 59:35
  number starts to accelerate. What number would you put on it,
• 59:38
  Adam? Yeah, I, I think I'm in this and
• 59:41
  less than one, like it's, it's less, less than 1%.
• 59:43
  Like we and I see this, I mean building Bitcoin.
• 59:46
  Well, like our, our greatest marketing, our greatest
• 59:53
  achievement was being able to innovate on ways that people buy
• 59:57
  Bitcoin and take self custody. We completely obliterated the
• 1:00:02
  middle man, you know, pairing order books, you know, risking
• 1:00:07
  your coins or to sell. You can literally buy Bitcoin,
• 1:00:11
  receive custody in seconds. And that is somehow.
• 1:00:18
  Our greatest barrier. It's like, you know, Apple
• 1:00:23
  spends all this time and attention, they innovate like
• 1:00:25
  crazy on this ecosystem. They've got all their special
• 1:00:28
  silicon and they talk about that.
• 1:00:30
  And people are like, oh, I want that.
• 1:00:32
  I need that. I got to have that and we put
• 1:00:35
  all this time and attention into making a platform that we think
• 1:00:39
  bitcoiners are going to love because it's self custody only.
• 1:00:42
  Not even like you can take self custody.
• 1:00:44
  That's a cop out. You can take self custody.
• 1:00:47
  It's like, well, I sold you, you know, grass fed beef and you
• 1:00:50
  just chose the Big Mac like shame on you.
• 1:00:52
  I was like, no, no, no, how about you only give me the good
• 1:00:54
  option. You're the one that I'm trusting
• 1:00:56
  here. Give me the good option and the,
• 1:00:59
  and we tell people this and they're like, do I have to get a
• 1:01:02
  wallet? Are you really, well, what if,
• 1:01:05
  what if I, what, what if I lose it?
• 1:01:08
  And it's like, well, you know, you're on a computer.
• 1:01:11
  Like you walked around. Did you poop in the street
• 1:01:14
  because you couldn't find a toilet?
• 1:01:15
  Like do you have any personal agency?
• 1:01:17
  Some people do that. OK.
• 1:01:20
  And you know what Fairpoint if you are, if you are pooping in
• 1:01:23
  the street, self class is not for you.
• 1:01:26
  Go use a different platform. That's fair.
• 1:01:28
  I don't want any St. poopers on Bitcoin.
• 1:01:30
  Well, I'll take that all own that do.
• 1:01:33
  We have to talk about. Your account or are you?
• 1:01:36
  No, it's on me. Hey, it's on me.
• 1:01:38
  But, you know, I, I've been seeing, you know, I'm on Twitter
• 1:01:42
  as well, OK. Apparently on Twitter too much.
• 1:01:45
  Anyways, guys, you're going to want you guys are going to want
• 1:01:47
  to stick around. We're going to be talking about
• 1:01:49
  all things Bitcoin. Well, their recent product
• 1:01:52
  offerings, you know, you got the portal, you got Bitcoin well,
• 1:01:54
  infinite and they're constantly rolling out updates and
• 1:01:58
  features. So really excited to have the
• 1:02:00
  founder and CEO on today's show. So Adam O'Brien, you guys are
• 1:02:03
  going to want to stick, stick around, smash the like button
• 1:02:06
  and we're going to be right back just after the break.
• 1:02:09
  I want to give a shout out to our partner Hive Digital
• 1:02:12
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• 1:02:15
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  Go to sat123.com/simply today and use promo code simply to get
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  15% off anything on the store. Hi everybody, we are back
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  welcome back smash that like button if you guys are enjoying
• 1:03:52
  the show so far Ladies and gentlemen, we got Adam O'Brien
• 1:03:55
  in the house today. We're going to be talking about
• 1:03:58
  all things Bitcoin. Well, the only automatic self
• 1:04:01
  custody Bitcoin platform in the US of A.
• 1:04:05
  What does that mean Nico? What did you just say?
• 1:04:08
  It means that when you buy Bitcoin on Bitcoin well as soon
• 1:04:11
  as you buy it, it goes straight to yourself.
• 1:04:13
  Custody Bitcoin wallet address, it's like that was the way that
• 1:04:16
  it was supposed to be, but we got a little bit sidetracked.
• 1:04:19
  Adam was talking about that for just a little bit but yeah, Adam
• 1:04:23
  welcome dude. I'm I'm super excited.
• 1:04:25
  What's the latest and greatest happening over at Bitcoin?
• 1:04:28
  Well. Dude, thought process has been
• 1:04:30
  cool lately. So bear markets are hard, right?
• 1:04:32
  Bear markets are when are when the real fruit of a company gets
• 1:04:38
  squeezed out. You know, I look back.
• 1:04:40
  If I look back through the bear markets, I'll give you guys some
• 1:04:43
  lore here. My first bear market was the
• 1:04:46
  2014, 2015 bear market. And I legit almost sold the
• 1:04:52
  company. I had a couple ATMs, couldn't
• 1:04:55
  get a bank, couldn't get funding, couldn't figure out how
• 1:04:58
  to grow. It was like a little sketchy.
• 1:05:01
  You know, driving around with all this money and Bitcoin was
• 1:05:05
  super boring. And I almost sold, had the
• 1:05:08
  meeting didn't feel right in my gut and so didn't sell.
• 1:05:11
  And you know, not two months later or sorry, not even two
• 1:05:15
  years later, but it was actually about six months after I made
• 1:05:17
  the decision not to sell. Boom, you know, the 2017 bull
• 1:05:20
  run happens. We're able to expand like crazy
• 1:05:24
  and, and everything, you know, off we go.
• 1:05:27
  And I sat there and I was like, wow, we made so much money.
• 1:05:29
  This is amazing, but we could have made more.
• 1:05:31
  We have to scale. We have to improve our offering.
• 1:05:33
  And so that then we started building out like our, our kind
• 1:05:37
  of the early version of what our online portal eventually became.
• 1:05:40
  We've got an office, we hired some people I hired like, you
• 1:05:43
  know, a team and we started building up our processes.
• 1:05:47
  That was the next bear market. This is the 2018 to 2020 kind of
• 1:05:49
  bear market. And then boom, 2021 things are
• 1:05:52
  crazy again. And we've got all kinds of good
• 1:05:55
  stuff happening in, in our office and we build, we build
• 1:05:59
  and launch the Bitcoin portal in, in, in the early stage.
• 1:06:04
  And then, you know, 2022-2023 bear market here we are.
• 1:06:10
  And so we're kind of like just going through this, this now.
• 1:06:13
  And I look back through that and I think, OK, learning from the
• 1:06:17
  past, this last decade, you know, the 2 bear markets that
• 1:06:20
  have kind of come about, we've launched incredible, you know,
• 1:06:24
  innovations in and amongst the, the space.
• 1:06:28
  And So what we're really focused on right now is throughout this
• 1:06:32
  bear market, finding ways to give people Bitcoin, to
• 1:06:36
  decentralize the network, so to speak, and to find ways to
• 1:06:39
  reward and give customers, users Bitcoin, well, people the the
• 1:06:45
  opportunity to get Bitcoin and ideally Bitcoin KYC free.
• 1:06:50
  And so we've been really working hard, mostly on the legal side,
• 1:06:53
  trying to find ways to incentivize people in a, I got
• 1:06:58
  to be like in a, in a. Pre Y.
• 1:07:01
  C area or with a light account, as we call them at Bitcoin well,
• 1:07:06
  if you want more information on light accounts, just Google
• 1:07:08
  light Lite account Bitcoin well and and that'll give you the
• 1:07:11
  info that you need and and and ways to give them give them
• 1:07:16
  Bitcoin in that way. And so we're pumped.
• 1:07:18
  We're going to be launching this like new tiered referral program
• 1:07:21
  where you're going to be able to basically climb this ladder to
• 1:07:24
  be earning like, you know, 20% of what we earn on a
• 1:07:29
  transaction. So like we're going to do take
• 1:07:31
  all the risk, we're going to do all the work.
• 1:07:32
  We're going to pay our team, we're going to pay find
• 1:07:34
  liquidity, we're going to, you know, pay for the platform of
• 1:07:36
  stuff and we're going to give 1/5 of that away to our
• 1:07:40
  customers that help us help us find customers.
• 1:07:42
  And we're going to do it all in a way that hopefully can enable
• 1:07:47
  some people to earn some KYC free Sats, which I think is very
• 1:07:50
  important in this day and age where financial freedom is
• 1:07:53
  feeling a lot more like a privilege and a lot less like a
• 1:07:55
  right. But I think financial freedom is
• 1:07:58
  a very important thing that we should be advocating for.
• 1:08:01
  And Bitcoin Well is trying to put the put that on the
• 1:08:04
  forefront. And then obviously, you know,
• 1:08:07
  part of the benefit to that and depending on where you live, you
• 1:08:10
  know, we're actually not allowed to do this fully KYC free.
• 1:08:13
  So I want to just like tell everyone there, but with our
• 1:08:15
  Infinite program, we are completely revamping the, the
• 1:08:19
  Infinite platform. We're going to be launching here
• 1:08:21
  right away, an actual portal for our Bitcoin, Well, Infinite
• 1:08:25
  customers, which is like the Bitcoin concierge service that
• 1:08:27
  we run. You're gonna be able to, to have
• 1:08:30
  full portal functionality within that and then also be referring
• 1:08:33
  your friends and, and there's no cap on on those referrals.
• 1:08:38
  So if you like, if you've got a rich uncle that you've been
• 1:08:40
  working on orange filling, it is all of a sudden incredibly
• 1:08:43
  profitable to send it to people as well, because we're going to
• 1:08:46
  pay you thousands of dollars after they make their their
• 1:08:50
  transaction. We've got some people, some
• 1:08:51
  plebs just like stacking millions of SAT's just because
• 1:08:56
  they refer people to us and you know, and it I love, I'm very
• 1:09:01
  proud of the team. Everyone that refers to us,
• 1:09:03
  they're like DM me on Twitter, they're like, you know, emailing
• 1:09:06
  me, whatever. And they're like, hey, I just
• 1:09:08
  sent my uncle just sent my boss just sent my nephew, whatever.
• 1:09:12
  And they had an amazing experience.
• 1:09:13
  This was the best experience they've ever had in the Bitcoin
• 1:09:17
  industry. And so I'm super proud of the
• 1:09:18
  team, the processes that we've built kind of tapping all three
• 1:09:21
  of these markets, right. We've got the Bitcoin AT Ms. up
• 1:09:24
  in Canada, but the portal for like everyday plebs is, is kind
• 1:09:28
  of our fastest growing, obviously.
• 1:09:31
  And I think people understand that they can buy Bitcoin and
• 1:09:35
  have it sent to their personal Bitcoin wallets, you know,
• 1:09:38
  immediately without having to ask for a withdrawal and without
• 1:09:41
  exposing themselves to the company's proof of reserves.
• 1:09:44
  I think that's a very important thing without creating and and
• 1:09:47
  contributing to this massive honeypot problem that we have in
• 1:09:49
  Bitcoin. The centralization, you know,
• 1:09:51
  everyone, like everyone agrees the centralization of Bitcoin is
• 1:09:53
  bad. And then we go out and buy the,
• 1:09:55
  you know, buy the ETF we like pump MSTRS bags and we buy
• 1:09:59
  Bitcoin and leave it in a Bitcoin platform.
• 1:10:01
  It's like, what do you think you're doing?
• 1:10:02
  That's just centralization of Bitcoin.
• 1:10:04
  And then I, and I think too, you know, Bitcoin will infinite.
• 1:10:06
  This is going to be the biggest year for Bitcoin will infinite
• 1:10:08
  because there is an enormous amount of people that are truly
• 1:10:14
  getting orange pills. They understand fully.
• 1:10:17
  This is not some like, oh, I'm getting into crypto because my
• 1:10:21
  NF TS went up nine billion percent because of lots of money
• 1:10:25
  laundering. This is like I understand the
• 1:10:27
  concept and the philosophy and the fundamentals of Bitcoin and
• 1:10:31
  I now need to save my wealth in Bitcoin.
• 1:10:33
  And so as you get the high net worth population understanding,
• 1:10:37
  doing their own research and then buying and taking self
• 1:10:40
  custody, yeah, I'm super bullish on what Bitcoin Infinite's going
• 1:10:43
  to be coming out with this year. And so, yeah, it's an exciting
• 1:10:46
  time over at the well, mostly for our cuts because they're
• 1:10:49
  going to be able to earn some stats.
• 1:10:51
  Dude, you keep building and I I love the love the the the point
• 1:10:55
  that you brought up during the bear market, right, Bear markets
• 1:10:57
  are for building and that's really when I think you get
• 1:11:00
  stress tested for sure as a Bitcoin company, right and out
• 1:11:06
  of it seems like you've you've. And a bitcoiner.
• 1:11:08
  And a bitcoiner. And a bitcoiner.
• 1:11:10
  Totally, man, even like even just considering with some of
• 1:11:13
  your friends, like if you sit around, if you if you guys are
• 1:11:15
  being honest with yourselves, like having some NGU would be
• 1:11:19
  pretty nice right now. I wouldn't I wouldn't mind a
• 1:11:24
  little NGU here. And I think these bear markets
• 1:11:28
  though, that's important. You know, you're going to have
• 1:11:30
  friends get bored, you're going to have friends fall off, you're
• 1:11:32
  going to have friends lose the mission.
• 1:11:34
  But it's important to remember that NGU is the prize, not the
• 1:11:38
  goal. The goal is freedom.
• 1:11:40
  The goal is generational wealth. The goal is prosperity for your
• 1:11:43
  last name. The goal is separating money
• 1:11:46
  from state, the prize is is NGU, but the goal is much deeper,
• 1:11:52
  much bigger than that, and I think it's very important that
• 1:11:54
  we remember that. Absolutely.
• 1:11:56
  That's cool. Motherfucking bun BBB.
• 1:12:03
  Hey you, you give me shit about the soundboard but.
• 1:12:06
  Yo, are we sure? Obviously poop in the streets.
• 1:12:09
  I'm just not sure I'm good on the soundboard.
• 1:12:11
  You just spam it like you poop on the streets.
• 1:12:15
  Oh, shots fired. OK.
• 1:12:18
  OK. For the record.
• 1:12:19
  Can't even take self custody. Bro, I'm going to be banned from
• 1:12:22
  Bitcoin. Well, don't say that Opti.
• 1:12:24
  Come on now. As you should be St. pooper.
• 1:12:30
  Anyways, guys, go to bitcoinwell.com today, sign up
• 1:12:35
  again, it's automatic self custody.
• 1:12:37
  I have so many good things again for the plebs, you guys are
• 1:12:39
  buying Bitcoin, check out the portal and for higher net worth
• 1:12:42
  individuals, if you guys want the concierge, I'm not French,
• 1:12:46
  so I can't say it Concierge service go check out Bitcoin
• 1:12:50
  Well infinite and Adam just made the announcement on simply
• 1:12:53
  Bitcoin, the Bitcoin Well Infinite that you guys are going
• 1:12:56
  to have a portal as well. Adam, it's always a pleasure and
• 1:12:59
  honor to have you on the show. Thank you so much for joining us
• 1:13:01
  today. Any last words for the audience?
• 1:13:04
  I think stay focused, understand why you're here.
• 1:13:08
  If you're here only for NGU, you are not going to make it.
• 1:13:12
  But if you were here for the mission, if you're here for the
• 1:13:14
  freedom, if you're here to better yourself and your family,
• 1:13:17
  then stay strong. Stack stats and of course, buy
• 1:13:21
  real Bitcoin at bitcoinworld.com.
• 1:13:24
  I love it. I love it.
• 1:13:25
  Adam, stick around for after the show.
• 1:13:27
  Anyways, guys, that was our show today.
• 1:13:29
  Smash the like button, consider subscribing and we'll see you on
• 1:13:31
  the next one. Before I close it up, I do want
• 1:13:34
  to give a shout out to our sponsor guys.
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  All right, everybody, take care. We'll see you on the next one.
• 1:14:11
  Today's episode was brought to you by bitcoinwell.com, a
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  Bitcoin only platform on a mission to enable financial
• 1:14:17
  independence.