All right, y'all, we're officially in the most
depressing time of the year. There's 73 days to the NFL
returns, 106 days to the NHL returns and 120 for the NBA.
There's just absolutely nothing going on.
But that's not true for the markets.
It's getting wild out there. Just when you thought we might
have some peace in the Middle East, conflict is brewing again.
And the president had some choice words for Israel and
Iran. That have been fighting so long
and so hard. That they don't.
Know what the they're doing. Do you understand that?
As a parent, I can relate hearing the kids fighting
downstairs. Donald Trump came out the Oval
Office like me coming down the steps in the morning.
And there's not just the fight going on in the Middle East.
There's a fight happening at the Federal Reserve.
Fed Chair Broman is urging Jerome Powell to cut rates,
saying that inflation is well below the Feds inflation target.
And while things are looking bleak out there in trad fine
markets, things are all looking pretty bullish for Bitcoin.
Bitcoin bounced back from the threat of war like nothing
happened. Bitcoin Treasury companies are
taking flight and we have more like Pro Cap Financial raising a
billion dollars to buy Bitcoin despite everything going on out
there in the news. I'll walk you through why you
should be bullish on Bitcoin right now.
This is Dante Cook with Bitcoin. Simply, let's go.
I think it's a great question. I think all these geopolitical
issues highlight a theme we've been talking about for a decade,
the separation of money and state.
Back in the day, money was separate from the state.
It was hard assets like gold. We've had this era where
governments print money, They're printing a lot of it now.
And I think we are going back to people trying to store their
wealth in hard assets. Gold's great, gold's doing very
well, but digital gold, Bitcoin is also relevant for people's
portfolios and it it can't be undermined by policies, tariffs,
wars, it's you can't print more of it.
It has all those attributes of gold head.
With conflict rising in the Middle East, there seems to be
some part of the market that's starting to recognize that
Bitcoin is a safe haven. Like Dan Morehead said, we might
be finally seeing the separation between money and state.
So much so that the CME Group chairman was shocked to see the
resilience of Bitcoin in spite of all of the things going on in
the normal markets. The.
Rest of the people on Saturday were following the crypto market
also because that's a 20 47 market and the cash side, as you
just alluded to, Liz. So I was following it as well.
So watching it go from one O 3, one O 4 down to 9898 1/2
overnight and then coming bouncing back up today, it's
pretty resilient market and it's pretty wild the way the market.
Has traded. But in Tri fi markets things are
looking so good. The cracks are starting to show.
Literally it's so hot that the cracks are starting to form.
And this isn't sci-fi. We actually have flying cars.
No, but seriously, the dollar has less support than Isaiah
Hartenstein son's neck during the postgame interview. 43% of
central banks expect gold reserves to increase next year
and 73% expect their dollar reserves to go down, meaning
they don't trust the dollar. And this lack of confidence,
this lack of buyers for the dollar or for debt is causing
the Fed to become uneasy. And that's why Governor Bowman
thinks that we should cut rates as soon as July.
And the markets are signaling this too, as the odds for a rate
cut in the September FOMC meeting rose by 79%.
People inside the Fed aren't the only ones calling for rate cuts,
saying that Powell is sitting on his heels for too long.
Analysts from Wells Fargo and our very own Tom Lee are saying
the same thing whole. Belief that we're going to see
this inflation shock. I don't think it's really well
founded if you're looking at the data, if you look at what
companies. Are doing right?
Here right now and what you expect them to do inflation?
Is not going to be a. Problem.
I think, Tom, you agree with that, don't you?
I do, you know, one of the things that I think helps us if
you go to the May CPI report, core inflation was .13% month
over month. The goods component was in
deflation, which is affected by tariffs.
And then if you look at core, the two biggest contributors
were housing and auto insurance that was .14.
So outside of housing and auto insurance, we had deflation in
the May CPI report. I don't think tariffs are going
to cause housing prices to go up, nor is it going to cause
auto insurance. So to me, the Fed is, I think
shifting to looking at expected tariffs but not realizing the
real driver of inflation. 75% of inflation since 20/19 was
housing and auto insurance. Those are both actually starting
to cool. And for those of you out there
who don't know what the Fed is, this show is called Bitcoin
simply for a reason. Let me give you a good primer on
who the Fed is and what they actually do.
What about the? Federal Reserve.
What is it? And is it?
Can us the Federal Reserve is the central bank.
It's technically not even a part of the government.
It is it's the worst of the government and and the worst of
not the government right. So it was created by an act of
Congress in 1913. OK.
It's the treasurer. The head of the Federal Reserve
is appointed by the president. So it's in that sense, very much
a part of the government. However, it gets to maintain its
status as a private, independent company.
They print the money and then lend it to us.
So they charge us for using dollars.
Now they lend it out to what are called their member banks,
meaning all the big banks, so Schwab, Chase, Bank of America,
all these Fargo, Yes. So they lend it out to them.
And then those banks lend money to the rest of us at a much
higher interest rate than they got it for.
So all of the banks now are in the business essentially of
getting free money. They just get the money at low
interest and lend it out to us at higher interest.
It's a huge scheme. It's privately owned.
We don't even have real information on it.
There's never been a full audit of the Federal Reserve.
There was. Ron Paul was the only one in
Congress who was really pushing for an audit.
I think Thomas Massie also was but never got it done.
They're non federal, unelected, unregulated, audited, and they
make their money by creating wealth out of thin air while you
and I have to work for it. And This is why people Bitcoin,
This is why people like Hal Finney said that Bitcoin was
going to be $10 million a coin in 2009.
And I take a moment, I take a moment to go back to someone
that was bullish when none of us were here, when none of us had
this information. January 10th, 2009, the network
launched technically January 3rd, but it was kind of clicking
away by January 9th. And the next day, the next day,
a certain genius estimates that Bitcoin could be $10 million a
coin. And this is so humbling.
It took the rest of us 16 years, $2 trillion in order to come to
a conclusion that, yeah, this is going to happen.
Thank you, Hal. This is why the 8th largest
economy in the world in Texas is building their Bitcoin strategic
reserve with a $10 million purchase of Bitcoin.
This is why companies like Similar Scientific are up over
40% after announcing A Bitcoiner to their executive team to run
their Bitcoin treasury. They're buying and not selling.
And This is why crypto companies like Digital Commodities are
selling their XRP to buy Bitcoin.
And This is why hardcore Bitcoiners all across the
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Bitcoin. Back to the show.
There's a reason that people like Anthony Pompliano, who's
been one of the leaders in the Bitcoin space, are launching A
publicly traded company to buy $1 billion worth of Bitcoin in a
treasury. In Pro Cap Financial, they're
raising $750 million and $250 million in a convertible note.
And as Anthony Pompliano says, if you can't beat it.
Now the Pompariano sort of empire between the SPAC which
you're working on between this effort.
Between your media. Efforts be all How is it?
How are you going to devote yourself to these different
activities? Well, today we're announcing
what is the largest initial fundraise for a publicly traded
Bitcoin treasury company in history.
We've raised over $750 million. It's a billion dollar merger
with the Columbus Circle, A SPAC.
And the idea here is we want to really be successful in the
financial services sector. And so if you think about this
pro Cap SPAC that is a dollar denominated vehicle to go and do
an acquisition. The pro Cap Financial is the
exact same thing. It's a publicly traded company
where we can go and we can acquire Bitcoin.
And so I think that that is where my entire career has set.
I sit at the intersection between the Internet and the
Bitcoiners and the institutional world.
We've been very fortunate to have a lot of institutional
investors participate in this round.
But also I think that there there is a dollar denominated
world and there's a Bitcoin denominated world.
And what I want to do is continue to sit at the
intersection of that and provide ability not only for myself and
our shareholders operating that. These businesses I.
Mean are you? Are you the effectively the CEO?
Operating them or are. You going to have teams that are
doing this for. You.
How's this? Going to work some some of the
different vehicles. Obviously we will hire entire
dedicated teams in the private market.
That's what we've done. We own a lot of businesses.
We have you know CEO's and executive teams that run those
businesses. I will be the CEO of Pro Cap
Financial, which is the business combination with Columbus Circle
and what I believe is the opportunity there is you're able
to acquire Bitcoin, but then not only just acquire Bitcoin.
Buying Bitcoin and allowing it to go up in price obviously has
been a successful strategy. But I believe that the future of
these companies is going to be how do you build revenue and
profit the financial services on top of that.
No different than if you look at the traditional financial
services firms, they have a balance sheet of dollars and
they go and they build these financial services on top that
drive revenue and profit. I think that you still have to
build a business on top of a big pile of Bitcoin.
At the end of the day, we end up growing in our phases, in our
maturity in Bitcoin until we understand what Bitcoin's
actually about. People like Max Kaiser who've
been giving away 10s of thousands of Bitcoin since
Bitcoin was $0.25, well, he understands that Bitcoin is a
tool for hope and not for fear. Bitcoin is a.
Path to love Fiat money is a path to fear.
Everyone who's against Bitcoin is a.
Fearful, full of. Fear that there.
Will be something will be taken away from.
Them. That they'll lose power.
That they're understanding of how the world works might get
crushed. I know it may be risky, but this
might be the time to dive in, to start to learn, to educate
yourself, to subscribe to channels like these and take the
risk because that's where the smart money is going.
Billionaires like Ricardo Salinas are adding more and more
to their Bitcoin stack. Mainly because, you know, the
the authors of the fraud are the people in government and
positions of power and they're the number one beneficiaries of
all this money printing. Of course, the normal people are
the ones that lose their savings through inflation and
debasement. So yeah, Bitcoin is is here to
stay. I really don't care about its
price daily. You know, as a matter of fact,
it's funny because I heard in your intro, the billionaires who
buy happens to be that we're in a buying this precise week
unrelated to this war. But yeah, we've been increased
our our Bitcoin holdings considerably just in this past
week because I'm not going to be waiting to time the perfect
moment to get in. I just know what's going to
happen down the road and I don't want to miss out on that.
And one of the bullish signals that you always see, even when
bitcoins price dips is Bitcoin corners gathering in real life.
And you can gather with hundreds of other bit corners from across
the country at the Bitcoin mining Expo happening in Dallas,
TX from November 11th through November 13th.
Get 20% off your tickets by using the promo code simply
Bitcoin. I hope you got value out of
today's show and you're able to decipher the alpha from all of
the noise happening out there in the markets.
It's pretty bullish for Bitcoin right now.
What do you think? Give me your ideas in the
comments. This is Dante Coke with Bitcoin.
Simply happy stacking.