It's all going to zero against Bitcoin.
It's going up forever. You're against Bitcoin.
You're against freedom. Yeah.
Welcome to another episode of Simply Bitcoin Live.
We're your number one source for the peaceful Bitcoin revolution.
Curler. Breaking news culture.
Magic, warfare. We will be your guide through
the separation of money and state.
Crazy news. Michael Saylor.
Now, I mean, micro strategy to be specific, but we all know
it's Michael. Say Michael Saylor, behind that
strategy, owns 190, 1000 Bitcoin.
He's definitely going for that 1%.
I know in his head he wants 210,000 Bitcoin.
That would make it so that he owns one, that 1% of all
Bitcoin, which is absolutely crazy.
He's he's gone nuts. He's obviously using his company
to. He's leveraging his company to
stack more Bitcoin every single month.
There's another announcement that he's making these huge
purchases, and as we'll show today, because everyone was
waiting for his investor report, it seemed like it was the
winning strategy. MicroStrategy has outperformed
everything, including Bitcoin, I might add, since they adopted
the Bitcoin strategy in 2020. That press conference yesterday
was a big deal. Also breaking news.
We're not going to cover this today, but it seems like
Fidelity has added a 1% Bitcoin allocation to its conservative
ETF. Right?
Which is nuts how fast this is accelerating.
The Bitcoin price did shoot up because of this news it was
sitting at. I think it was like 40.
Forty 2900 shot up to 43,250. This is this is nuts.
The institutions are here. This is one of the big
narratives in 20/17/2018. One of the coping narratives
was, Oh my God, the institutions are coming.
The institutions are coming as the price of Bitcoin collapsed
in 2018. Well, ladies and gentlemen, the
institutions are here. Make no mistake, You have Larry
Fink on TV, you know, saying, you know, basically saying all
the Bitcoin talking points. You have the legacy finance
corporate media saying all the Bitcoin talking points, right.
They all want to get a piece of the pie.
They cannot resist bitcoins incentives.
Bitcoin is winning. Michael Saylor has been clearly
vindicated and you know, this is going to be a crazy, crazy
cycle. I'm beyond excited.
One of the theories also too was the theory of diminishing
returns, right? If bitcoins, you know, follows
this diminishing returns theory, you know it's barely going to
break all time highs. I think we're going to break
that this cycle in my opinion, with all this institutional
interest, you know, there's only the fact that there's only 21
million, there's a cap supply. I think everyone's going to want
to try to get their hands on this thing, especially now that
Fidelity put it on the conservative ETF like a part of
a, you know, a bunch of assets and Bitcoin represents 1% of
that. I mean, that is an absolute game
changer. And I think that's going to show
to the world that having Bitcoin on your portfolio, whatever your
portfolio is, wherever you come from, is not an option.
It's a necessity because you're gonna get left behind by the
institutions, by the countries that do have Bitcoin on their
balance sheet. Now from the institutional
aspect, from the number go up aspect, all of that is very
bullish. But remember guys, we're your
number one source of the peaceful Bitcoin revolution.
I just got to remind everyone guys, if it's not your keys,
it's not your cheese, right? If it's you don't have your
Bitcoin in self custody, it's not really yours.
So all this news about the ETF and all this news about Michael
Saylor, all this news about Naimbu Kelly, it could be really
exciting. But if you want to benefit this,
benefit from this, you know, 5-10, twenty, 30 years from now,
you want to put pass it on to the next generations.
You definitely want to have that sweet, sweet Bitcoin into self
custody. Also, during the numbers, we're
going to literally show you a video of the president of the
Federal Reserve Bank of Minneapolis.
You know, explain basically how he's skeptical of Bitcoin as a
currency. It's just it, I find it kind of
weird, you know? And we have this video of
yelling as well. We're gonna play it for you guys
tomorrow. You know, she's calling for
regulation and whatnot. But you know, I I find it weird
that the the dinosaurs, so to speak.
And I don't mean that in a derogatory fashion, but, you
know, it's it's, you know, this is the old system and they're
criticizing the new system. But who are they to lecture us?
Who are they to lecture us? They can't, you know, they can't
not spend money they don't have, they can't not stop printing
money, you know. So they might wear the suits.
They might hide behind the coattails of this, you know,
legitimized seal that you know has been around for more than
100 years. But the reality is that central
banks, you know, are stealing the stealing your purchasing
power. They're stealing the future from
your children of your grandchildren.
That's the reality that, that's the reality that people have to
come to terms with. Like every time a central bank
prints money, it's a wealth redistribution mechanisms from
the lower and middle classes back to the very wealthy that do
have the means to save an assets and back to the government.
That is the reality. That is the reality that the
world has to wake up to. And I think that's happening.
I think the Internet has disintermediated information.
Yesterday, Tucker Carlson made quite a big splash making an
announcement that he's going to be interviewing the president of
Russia, Putin, right. This is someone that you know,
the Western media complex has used to say it lightly as a
justification to print all this money and send all this money to
to the Ukraine. Whether you agree with the war
or not, that is not money that we can afford to be sending over
there. That's the reality.
You know, look at the debt clock, look at the deficit
spending every single year. Like these things are not free.
They're coming out of your dollars.
They're coming If you have dollars in the bank account,
that is literally where it's being siphoned from.
And Bitcoin is a silent protest. That's why we all at the
peaceful Bitcoin revolution and saying enough is enough without
direct confrontation. You're not saying listen no we
got to change the dollar and go through the political way.
It's basically saying like look you guys could have that I'm
just going to opt out of the system entirely by earning,
buying, mining Bitcoin and taking that said Bitcoin into
self custody. Anyways no more.
I do want to bring up my legendary Co host also caught
him in a non smile. Of course I'm talking about
Optimus Fields. There's a smile.
What's up dude? Dude, nothing much.
Nothing much. It's almost like the Bitcoin
thesis is correct and it is happening in real time.
I think that Fidelity news is probably way bigger story than
Michael Saylor, but we'll cover that tomorrow.
Sailors just taking all the sats.
Guys, I hope you guys are still stacking because man, I really
wish, Nico, we could do the same playbook with simply Bitcoin.
That would be pretty lit, you know, We'd be stacking a lot of
sats, but hey, we can all be as. What is the same playbook?
What are you talking? About, you know sell some shares
and yeah, I. Mean, dude.
It's really clever. I mean, but you could.
OK, technically you could do this if you own an asset, right?
And if you own a large portion of it, whether it's a house or a
bunch of stocks, technically you can take a loan against it.
I don't recommend it. That's called leverage by the
way for anyone who doesn't know. But you know, you could do that.
Technically you could do that. You know, there may be some high
net worth individuals are watching.
You know, you do have the opportunity to do that.
Anyways, I do want to bring up our for today, we got Sally in
the house. Unfortunately, he has, he does
not have any chickens on. No chickens today, which is
quite disappointing. But how you doing, Sally?
I'm good. How you guys doing?
Good, dude. Welcome to the show.
What are we gonna talk about during the Culture, Opti?
Yeah, yeah. So Sally hit me up the other
day. He is working on a bunch of cool
projects. So today we're going to be
talking about Stack Chain Mag, the sister company or brother
company Proof of Ink. And then I think, I think I'm
going to touch on Sally kind of hinted at something that he's
working on. I think we're going to touch on,
you know, working in Bitcoin. So that's probably the theme of
today, working with Bitcoiners doing cool stuff and, you know,
working in Bitcoin and figuring out how you can get paid to work
for Bitcoin. Absolutely, 100% guys, If you
are enjoying the show, it really helps with the algos, really
help us push the peaceful Bitcoin revolution.
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Smash that, like button, smash it, smash it.
Smash it takes literally 2 seconds, but really, really
helps with the algos. And of course, we really, really
appreciate it. Anyways, guys, no more delay.
Let's jump straight into the show.
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All right everybody, let's get to the numbers.
We got a lot to talk about. Let's check it out.
The Bitcoin numbers. Is your Bitcoin in cold storage
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Anyways, at the time of recording the Bitcoin price is
43,480 SATS per dollar 2300 block height 829,398 blocks to
having 10,602 having estimate April 19, 2024.
Total Lightning Network capacity 4942.
Bitcoin Capacity Value 214 million Realized monetary
inflation 1.75% The market capitalization of Bitcoin 853
billion U.S. dollars. Bitcoin versus gold market cap
6.19% In the grand scheme of things, Bitcoin is still a baby.
Anyways, I do want to give you guys a quick ETF update.
We're going to be doing this on a daily basis to see how much
Bitcoin these ETFs have gobbled up.
So the iShares Bitcoin trust. Yesterday it had 75,000 Bitcoin.
It's up to 76,750. That's how much Bitcoin
BlackRock is currently holding for their customers.
That represents .365% of the total Bitcoin supply.
The Fidelity Wise Origin Bitcoin ETF is currently holding 63,662.
That's an uptick of 1000 from the day before.
Yesterday was at 62,000 and that represents .3% of the total
supply. So these ETFs are obviously
gobbling all this up. The halving is around the
corner. There's not enough Bitcoin to go
around. That's to be blunt.
And take a look at MicroStrategy.
With 190,000 Bitcoin, they're getting close to that 1%.
They're sitting at .93 point 9% and they've already 1.39 X their
initial investment, Michael Saylor being an absolute Chad.
Anyways, what I do want to talk about today is this video coming
out of the president of the Federal Reserve Bank of
Minneapolis, Neil Kashaki. Kashak Curry explains why he is
skeptical of Bitcoin as a currency.
So I'm going to play it for you guys.
Maybe you agree with him, maybe you don't.
Let's check out the video and then we'll talk about it skeptic
about cryptocurrencies like Bitcoin.
Can you explain your concern? Yeah.
So I travel around and I do talks like this.
I do a lot in universities and inevitably in the university
context, there are a number of students who want to ask me
about Bitcoin. And I always ask them, has
anybody in this room ever bought something with Bitcoin?
Not bought Bitcoin, bought something using Bitcoin as a
currency. I mean, a sandwich, a computer,
a book, anything. Anybody ever bought anything
using Bitcoin as a currency? No, I've never met somebody
who's bought something using Bitcoin as a currency.
So I always ask, what problem is this trying to solve?
Well, first I heard, well, it's an inflation hedge.
Well then when we had this big inflation spike, I said darn it,
we're going to make these Bitcoin guys feel like they were
right. But then it turned out
inflation, or Bitcoin was a terrible inflation hedge.
When we raised interest rates, Bitcoin got crushed.
It's just another risky asset. So if you want to spend your
money buying Beanie Babies or Pez dispensers or Bitcoin, knock
yourself out, OK? But it's now been 10 plus years
and nobody has been able to articulate any actual utility in
the real world other than an article of speculation.
I'm not opposed to Beanie Babies.
I'm not opposed to Pez dispensers.
I am opposed to Americans taking their hard earned money and
being duped into investing in something and not realizing
they're buying a Beanie Baby thinking they're buying
something else. I'll give you 1 little example.
I've used this before. I said my wife is from the
Philippines. One time we went to visit her
family in the Philippines, we landed at customs at LAX.
I was going through customs. I was tired.
The customs officer said what do you do for a living?
And I said I work at the Federal Reserve.
And he said, oh, do you know about Bitcoin?
And I said, I know something. And he said, my good buddy just
took out a home equity loan to buy Bitcoin.
Should I do that? And I said, you know, I'm not
supposed to give investment advice, but do not do that
unless you want to risk losing your home.
So that's where that's why I'm concerned about it.
So I mean a lot to unpack there, first of all, first thing he
said, which was, have you ever met someone?
Yes, I actually bought something.
I'm not going to tell you guys what it is, but I actually
bought something with Bitcoin this morning.
No, it wasn't drugs. It wasn't anything legal, Opti,
But no, I actually bought something with Bitcoin this
morning. I've purchased many things with
Bitcoin. Now to be frank and to be blunt
with you guys, it's not as easy as using Apple Pay.
Just not Lightning is not quite there yet.
Wallet of Satoshi was a great attempt, even though it's
custodial. I hear hear that a million
times, but holy cow, was that thing convenient.
You know, obviously they pulled out of the US for the regulatory
environment. So you know, lining is, is is
getting built. Hopefully it gets to that point.
You know, liquid is great, right?
But I've used, you know, on chain Bitcoin to make purchases
before. Is it convenient?
I would say in some situations it's actually a lot more
convenient than using dollars. Now here's the thing, though.
When I spend dollars, it doesn't hurt.
When I spend Bitcoin, it hurts. Because I know that.
And this actually is a perfect segue to the second point that
he was trying to make, which was a sign, an inflation hedge.
Well, like, it depends on the timeline.
So like if you're actually like looking out like he lied like
that, that was a that was just a lie.
What he just said compared to the dollar like this, this is
just I'll read you the one year term, the three-year term and
the five year term. We referenced this website so
many times if you've been saving in Bitcoin, right.
This is why we don't advocate for trading the dollars actually
got in 92% cheaper, oil has got an 86% cheaper, gold, 84%
cheaper, S&P 585% cheaper. That that part I want you guys
to remember the S&P 500. You want to know why the spot
Bitcoin ETFs got into the top 10 out of 30 out of 3100 ETFs in
the United States. You want to know the reason
because of that. People are starting to realize
that, and there's no amount of suit and hubris and elitism that
is going to cover the mere fact that this thing is just a
superior asset. If you hold Bitcoin, it's a
better way to save money, especially if you take self
custody. That's just that's just the
fact. That's just the truth.
A house 78% cheaper in in Miami housing has increased by over
100% when they started printing all that money due to due to the
pandemic. If and I have been saving
Bitcoin, things have gotten cheaper and they will continue
to get cheaper over time. Now that's where the government
and government officials and Fed officials and central bank
officials, they nitpick, right? They nitpick.
They're like, oh, the volatility.
Yeah, maybe on a one year time scale, but you can't have these
crazy gains. You can't go from Bitcoin in the
beginning of 2017 to being, you know, $1000 January 2017 to, you
know, a couple years later, seven years later, where we're
sitting pretty at 43,485. The all time high was 69,000.
You can't have those types of movements without volatility.
It comes with the territory. But that's why we always
advocate for Bitcoin is savings. So I think he's wrong on 2/2
points. I think I've used many, many
times. I've used Bitcoin to purchase
things. I'm sure Opti has used things to
purchase things. I'm sure Sally has used Bitcoin
to purchase things. Now does that mean that current
Bitcoin, you know, apps and technology is as it depends
really where you are in the world, right?
But is it as convenient as using Apple Pay?
Is it as convenient as using Zelle and PayPal and all that
stuff? I I don't.
I personally, I don't think it's as convenient as Apple Pay.
I just don't that that that haptic feedback, like that shit
feels good. Like, I'm not going to lie,
yeah, it makes you feel good for paying for stuff.
So yeah, until Bitcoin gets to that level of convenience and
this is just the way that human beings work, right, I think we
have an uphill battle. But this is where, you know,
there this creates a great opportunity for Bitcoin
entrepreneurs, we know a lot of them, to try to solve this
problem. Like that's you know, that's the
problem that needs to be solved. Because I don't care about the
ideological reasons like yeah, I love Bitcoin as savings.
I do and I and I save in Bitcoin.
But as until Bitcoin becomes as convenient to use you know
specifically in in in countries that have relatively Fiat
current a relatively stable Fiat currencies, I don't think you're
going to see a lot of people opting into that.
I think right now it's in the in the store of value phase and
it's proving itself. And I think over time what we're
going to see is it's going to transition to a means of
payment. I don't think we're we're there
yet. I think that there's a lot of
work to be done on Lightning, there's a lot of work to be done
on you know second layer solutions and that's the
reality. But I have used it as a means of
payment. I've used it multiple times as a
means of payment. So that's BS and the whole thing
where it's not an inflation edge, maybe not on a, you know,
on a short term, one year time scale, but if you zoom out three
years, four years, it absolutely crushes the dollar.
It's saving. It saves your purchasing power
like no other. And you know what?
Actions speak louder than words. This isn't just me saying this
anymore. You had Larry Fink, the CEO of
the largest asset manager in the world, go on the legacy
financial media and literally say that Bitcoin is a flight to
quality, right. So it's not me saying this
anymore. It's not just a crazy bunch of
bitcoiners on the Internet. You know, you have some very,
very powerful people saying that Opti's patrolling me saying
Nico's a Fiat maxi. You know what dude?
Like, I'm not going to lie, like, hey, this is a call to
action. I hope there's a Bitcoin
entrepreneur out there that makes paying in Bitcoin feel as
good and as convenient as Apple Pay.
Because until we get there, you know we're behind, right?
There's great companies that are trying to tackle the like.
The strike product is great. Full just made an announcement
yesterday about converting your Bitcoin to dollars to make it
easier to live on a on a Bitcoin standard with with with a debit
card. So there's this is clearly a
problem that needs to be solved. Like, I'm not saying it any
other way. So, yeah, I mean, look, I think
that's that's cope from that, you know that president, you
know, I think he's on team Fiat and obviously he's gonna, you
know, be cheerleading for Team Fiat.
That's my opinion. Anyways, Opti, what's your take
on all this? Yeah, I mean, his name is
literally Neel Kashkari. Like, of course he's going to be
against Bitcoin and and let's not forget and let and let's not
forget that this guy was on 60 minutes.
I forget when it was like a year ago, two years ago.
Coincidence. By the way, that his name is
Neel, yeah? Whatever.
Whatever you heard a. Joke about it.
That's fine, yeah. Whatever you you know, hey I
like words and and they they they're signaling them Anyway
this remember this guy was on 60 minutes.
I I think it was like 2 years ago now.
I forget when it was. It was around 2020 ish.
And remember what he said guys you guys can go find the clip.
He was literally sitting there saying, Oh yeah, we can print an
infinite amount of dollars to solve any problem out there and
and this guy is what head of the Minneapolis Fed like this guy is
a Fiat maxi confirm. Like, I I really don't know why
we even listen to people like this.
I mean, like I've been saying for a while, if if people
haven't directly experienced Bitcoin, if they haven't used
Bitcoin, then like, why are we even listening to anything
they're saying? Like if they haven't experienced
the benefits of Bitcoin, then in my opinion, like if they haven't
even sent a transaction, in my opinion, their opinion is
worthless anyways. Like the fact that this guy Neel
Kashkari, the guy who said he can print infinite amount of
dollars to basically secure the financial system is telling us
that oh Bitcoin is worthless. Like this is the very reason why
we Bitcoin in the 1st place, a hard cap supply, digital
scarcity. This is why we Bitcoin is
because they can print infinite amounts of dollars.
So again, like, why are we listening to this guy?
And then on the point of like, oh, no one's using Bitcoin as a
means of exchange. Like, man, first it's got to be
a store of value. It's shown that it's a store of
value. And you see in real time that it
is starting to proliferate as a means of exchange.
Like, of course I've bought things with Bitcoin.
I buy things with Bitcoin all the time.
I find using Bitcoin way easier than using the Fiat payment
rails. Like even the very fact of just
like scanning a QR code and sending Bitcoin to me is much
simpler than having to type in all my, you know, information,
my card or whatever, even Apple Pay.
I love Apple Pay and hence why I used them with my boys over at
the Bitcoin company. But Bitcoin in my opinion is a
way superior payment rail than traditional financial payment
rails. And nothing they say coming out
of the Fed is going to stop me from using Bitcoin.
Nothing, Neel Kashkari says, is going to stop me from saving in
Bitcoin. Obviously this guy is a Fiat
maxi and he's thinking about his position and his job at the Fed.
He realizes that the the private market, the private sector is
going to outperform him and they are.
And yes, you know, even though I'm trolling Nico about the fact
that he's he's starting to sound very, very, I don't know, I'm.
Jaded I'm jaded, bro. I'm jaded the.
Coin Fiat apologist over here. Last day was Friday.
Now he's saying this on Wednesday.
Nico, you're going down the moment the.
The moment that the sorry not cash up.
The moment that Wallet of Satoshi, you know, discontinued,
and I still have it downloaded on my phone, But the fact that
you can't just download and start using it, you know, I'm
not going to lie, that was very discouraging.
Like, I'll be honest with you, it's extremely discouraging that
that happened. So yeah, man, I mean, look, it
is what it is. That's my take.
Sally. What's What's your What's your
take on this, bro? Were were you a fan of Waldo of
Satoshi Sally? Are you there?
Oh sorry, I my connection was going in and out already.
I actually was a a fan of Malo Satoshi.
It was one of the easiest ones I've used.
It still works for me as long as I will use AVPN.
So it hasn't. Been that big of a deal yet, but
I am shopping around for a new wallet to start using. 100%
What's your take on the video, Sally?
It's that's what it always is. There's always going to be
somebody that calls it rat poison or or this or that.
So you know, he'll be, he'll be eating his words here soon after
the cycle 100%. Yep.
Neil. What?
How do you say his name? Optimi.
Neil Kashkari. Neil Kashkari is going to have
fun staying poor for sure, 100%. Anyways, guys, we have a lot to
talk about. Let's get to the news.
We got a lot of dig. We got a lot to dig into.
We got a pretty long video for you guys from Sailor.
It's absolutely, incredibly bullish.
So let's check it out. Here we go.
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foundation. Anyways, we were all waiting for
micro strategies Microstrategy's financial results, so it finally
came out and when it came out once again it was revealed that
the Chad Sailor, of course he bought himself more Bitcoin, so
it's kind of a big deal. There is also kind of like this
like video conference type of thing.
I'll show you guys that in a second.
It's a pretty long video, I might add, but Michael Sailor
was just flexing the entire time.
So the announcement for audio listeners is MicroStrategy
announces fourth quarter 2023 financial results now holds
190,000 Bitcoin. Here are some of the bullet
points, 31,755 bitcoins acquired since the end of of Q3 for 1.25
billion or 39,411 per Bitcoin. 190,000 Bitcoin holdings at a
total cost of 5.93 billion or 31,224 per 31,224 thousand per
coin as of February 5th, 2024. Total revenues 124.5 million,
down 6% year over year. Subscription service revenues
21.5 million up 23% year over year.
Anyways, here is the official Chad Saylor tweets with the
giant laser eyes coming out of his face In January,
MicroStrategy acquired an additional 850 Bitcoin for 37.2
million U.S. dollars. Now holds 190,000 Bitcoin.
And then he goes on to say please join us at 5:00 PM as we
discuss our Q 4/20/23 financial results.
So we'll get into the details of that.
But before we do that, before I play you guys the video, I want
to, I do want to show you this take and this is of course
reacting. Adam Back was watching the
presentation and this is one of the comments, this is one of the
slides from that, from that what Michael Saylor was referencing
and I think there's a lot of signal here, right.
So if MicroStrategy conservatively borrowed 1
billion pre halving and bought 20,020 thousand Bitcoin and
bought 20,000 Bitcoin, they get 210K Bitcoin, 1% of all Bitcoin
and wait for the bull market would be a nice move.
MicroStrategy earnings call yesterday talking about their
advantage in obtaining, managing leverage, illustrating upside,
right? And here they just pointed out
right spot Bitcoin, you know it goes on the 4343 thousand 69,100
thousand 250,000 MicroStrategy current leverage 85,180 thousand
600 and 66160% hypothetical scenarios in which Bitcoin price
increases illustrative. So I mean it's just kind of
showing all the different scenarios now.
I think the signal really comes in, Michael Saylor kind of
breaking down a lot of the presentation.
And obviously if you guys take a look at the soft flex, I mean is
this a soft flex? This is something that we've
been showing for, you know, at least many, many, many months
now. But it's just comparing
Microstrategy's performance compared to everything else.
So enterprise software and of course this is stock performance
since August 10th, 2020 And you guys have to understand, right.
So Michael Saylor is the CEO or he is not the CEO, but he's the
Chairman of MicroStrategy. He's responsible for it.
You know, his, you know, it's his neck is on the line, you
know, because this is a public company.
He has, you know, he has shareholders to please, like
that's just how it works, right. And what he's demonstrating,
it's not like bitcoiners where you know, your mom or you know,
your your father, your grandfather, like, yo, you're
crazy. And then you're like, OK, watch
me, you know, watch me, Mr. Federal Reserve President, watch
me prove you wrong as number go up.
Michael Saylor is doing this on a public company level.
And the consequence of that, like the significance of that is
that other public companies are not going to be able to ignore
that for, you know, for significant amount of time,
especially with these types of results.
So you know the SAP only went up 11%.
CRM went up 45%. IBM went up 53%.
Oracle, which did incredible, went up 111%, Amazon only 9%,
Netflix 17%, Apple 65%, meta 81%, Google 92%, Microsoft 97%.
Bonds, you'd be down 19%. Silver, you'd be down 18%.
Gold only up 1%. The NASDAQ 42%, S&P 548%,
Bitcoin 260%, MicroStrategy 305%.
So he's clearly showing to all the public companies that this
way is the way to go. And by the way, This is why the
news of today was so significant.
We're going to talk about it on Thursday's episode where
Fidelity made the announcement that they are going to be
allocating at 1% and they're all in one conservative ETF to
Bitcoin. That's a big effing deal.
And why is that happening? Well, This is why it's happening
for audio listeners. I just read out all the all the
numbers. The numbers don't lie, the
incentives don't lie. You could throw away, throw out
all the ideological stances, all the talking points, all the
propaganda, all the attempted coercion, all the attempted
bands either by the CCP, all these hostile anti Bitcoin
bureaucrats and politicians. Throw all that out the window.
This speaks volumes. Clearly using Bitcoin as savings
works right on the public company level.
We love to show you this this website priced in Bitcoin 21.
It clearly shows that if you save in Bitcoin, life gets
cheaper over time. It's crazy what happens.
There's only 21 million. It's the scarcest asset the
world has ever seen. And Wall Street this cycle is
starting to wake up to that reality.
OK, no more talking for me. I'm going to play you guys this
video. It's at 1.5 times the speed.
I listened to it and I tried to cut it, but I thought the whole
thing was so full of signal. So it's about, it's about a
10/10. It's going to be like a 10-9
minute video, but it's Michael Saylor dropping bombs the entire
times. The entire time.
And then, you know, Opti and I and Opti and Sally will kind of
break it down. We'll discuss it.
So let's check out what Michael Saylor has to say.
August. 10th or August 11th when we adopted our Bitcoin strategy,
our stock has outperformed Bitcoin as well as every major
asset class along with every major big tech stock as well as
every major enterprise software stock.
We're very proud of this and and you know for those of you who
followed us on this journey, you know it's been a number of steps
every single quarter that got us here.
But I think that this is a very useful chart to illustrate and
discuss some some key elements in our strategy and in our
business outlook. First of all with regard to
Bitcoin, 2024 is the year of birth of Bitcoin as an
institutional grade asset class. Bitcoin is is being increasingly
referred to as a new, as an asset class and as a new asset
class. And in fact it's the first new
asset class of the modern era. It's difficult to really name
another asset class. Gold when it was converted to
ETF wasn't a new asset. Commodities were never a new
asset. 30 years ago the S&P index was converted to an ETF,
the Spider. That wasn't the new asset then,
but it was certainly a revolution in finance.
And so Bitcoin represents many things, but one thing it
represents is the first institutional grade digital
asset. And so we've now completed the
1st 15 years of of the Bitcoin life life cycle and in that
first 15 years it was largely unregulated retail asset
misunderstood. The next 15 years I would expect
will be a regulated institutional high growth period
of Bitcoin, very, very different in many ways from the last 15
years. Bitcoin itself is is performing
well for a number of reasons, but one reason is because it
represents the digital transformation of capital.
If we look at some of these other great performers on the
chart, like Microsoft and Google and Meta and Apple, they're all
digital transformation plays. They represent the digital
transformation of devices and the digital transformation of
relationships and the digital transformation of information
and books and libraries and entertainment and education and
the digital transformation of corporate processes, say
Microsoft. Well, bitcoin's a very profound
idea. It's what if we actually
transformed capital from its analog form, capital in the form
of land or buildings or capital in the form of shares in an
actual physical company or bushels of corn or diamonds or
bars of gold or capital in the form of Fiat currency or bonds.
And what if we could actually make that into a digital asset
that's that's created in order to address all of the historic
perceived shortcomings of analog assets?
What if we had had all the benefits of gold, but none of
the liabilities of gold? What if we had the benefits of a
share of stock, but none of the liabilities of a share of stock?
What if we had the benefits of a building, but not the
liabilities of the building, a synthetic digital asset.
And so increasingly, investors are recognizing this.
That's why Bitcoin is up 260% since we embarked on our Bitcoin
strategy. That's why it's outperforming
the S&P and the NASDAQ. That's why it's outperforming
gold, silver and bonds. Bitcoin isn't a company, and
it's kind of it's profoundly important to understand that
it's not a company. It's an asset class, and as
such, based on a commodity. It has spawned an entire
universe of companies products and services built on that asset
class. So part of the the the driver of
bitcoin's performance is not just it's it's protocol and
superior fundamental characteristics but another
driver is that is the industry of Bitcoin miners that secure
the network and and Bitcoin custodians and a set of Bitcoin
exchanges. So we see, we see lots of public
companies that are Bitcoin miners.
Now we see many, many companies that are entering into Bitcoin
custody like Anchorage, like bit code, like Fidelity, like
Coinbase. We see Bitcoin exchanges like
Block acting as an exchange, like Fidelity, like Coinbase,
like Gemini, etcetera. We're going to see more
exchanges. We see an explosion of Bitcoin
wallets, different software, software applications for mobile
phones or or devices in order to move Bitcoin around.
We've got Bitcoin devices themselves for signing and
securing the network. There's a whole host of
companies in the Lightning ecosystem, Bitcoin and other
Bitcoin L2's that are scaling the network.
And now of course this year we have Bitcoin ET PS, spot ET PS,
and and even even derivatives of those ET PS.
Companies that are going to trade the volatility of the
underlying spot ET PS are starting to pop up in
application form. And of course these ET PS aren't
just local or aren't just United States based, but they're
global. And that's significant because
every single company everywhere in the world is meeting a
different set of compliance requirements.
You know, a Bitcoin ETP in Hong Kong will serve a different
need, meet different compliance requirements and meet the needs
of different types of investors from a Bitcoin ETP in Canada or
in in France or in the UK or in the United States.
And so all of these various actors are scaling the Bitcoin
network with increasing enthusiasm.
Micro strategy as as we've noted, is unique as of now as
the first Bitcoin development company, but hopefully not for
long. We published our playbook and
we're showing other companies how to do it.
And there's a lot of real estate development companies in the
world, companies that issue securities and develop real
estate. There are a lot of oil or
petroleum exploration and development companies in the
world. There are natural gas
development companies in the world.
There are software development companies in the world.
So we believe that as an as awareness builds of Bitcoin as a
commodity, as a global commodity, as a unique asset
class, I think we're going to see more entrepreneurs enter the
space and and start to work in in these various areas to add
value to the ecosystem. It's it's worthwhile to note
people are in the early days they under, they thought of
Bitcoin as currency and a medium exchange and it creates a lot of
misunderstandings and a lot of and a lot of inappropriate or
irrelevant criticisms. With the advent of these new ET
PS from BlackRock and from Fidelity awareness of Bitcoin,
can you please go back. Yeah.
Let's say on the slide awareness of Bitcoin as a store of value
asset is growing and people are starting to see Bitcoin not as
digital currency but as digital property or digital gold, a
digital store of value. You could think of it as gold or
you could think of it as property or think of it as
another kind of digital store of value.
But in that regard you kind of have to compare it against other
liquid stores of value that people are using.
So for right now, the most common alternative to Bitcoin
for a tech enthusiast would be to invest in big tech with the
Magnificent 7, the Microsoft, the Google, the Metis.
But as you can see, when the market cap of a big tech company
double S, you have a company doing a lot of work generating a
lot of cash flow to support the market cap and the work that
they have to do Double S And if they want to double their market
cap, their value again, they have to keep generating, they
have to keep doing more work, generating more cash because
traditional finance technique is I dividend out my cash flows or
I buy the stock back. Two very famous examples of this
traditional approach are Apple and Meta who are both engaging
in monstrous capital return programs.
So a stock is returning its capital and its value or store
of value promise is based upon being able to grow its cash
flows faster than the rate of inflation.
So they're working increasingly hard.
If you want to make it 10 times more valuable, eventually you've
got to come up with a way to get 10 times more cash flows.
And that's very different than the Bitcoin because Bitcoin is
the asset. So whereas big tech is asset,
poor cash flow rich Bitcoin is asset rich.
And the strategy with Bitcoin becomes asset rich.
Now we're moving into a macroeconomic environment where
we're going to see increasing monetary inflation to pay off
the debt. That's well understood.
That was even acknowledged by Jerome Powell in a 60 Minutes
interview this weekend where he expressed concern.
And so as as the monetary supply expands, if your strategy is is
to generate more cash flows, you're going to have to grow
your cash flows faster than the rate of monetary inflation.
And that means that a big tech strategy becomes increasingly
difficult. And so you can almost say, you
know a big tech company becomes becomes more difficult, it's
harder, right, as the value increases.
But Bitcoin gets more compelling as the value of Bitcoin
increases because the liquidity increases and and the network of
holders increases. So, So we're in the first year
of Bitcoin being viewed seriously as a possible
institutional great store of value.
And I believe that over time it's it's going to appeal to
technology investors as they understand it as digital capital
and the digital transformation of capital.
And there's a reason that we believe we can outperform other
strategies and why we believe a commodity like Bitcoin is a
better long term store of value than just buying a portfolio of
stocks. OK, ladies and gentlemen, ladies
and gentlemen. So Michael Saylor dropping all
this hot fire, all this sauce. But look at the symbolism.
Symbolism is very important. Symbolism is, is it literally it
it it's he's saying all these things but at the same time and
he mentioned because someone tried to click off the slide,
no, go back to that slide, right.
So this isn't just the theory. Back in 2020 this was a theory.
I saw this man at Pacific Bitcoin 2022 front stage.
Bitcoin was sitting at 16,000. His average price to acquire
Bitcoin was at 29 or 30,000. The man was down 5050%.
Billions of dollars straight face He's paying his price of
tuition like all of us bitcoiners most likely have to
because you most likely got in during a bull market and this is
the vindication this is showing you.
Hey, this is my theories. This is why I believe this is
going to happen. Been sticking to my guns and
telling you exactly what I've what I think is going to happen,
what I think is the best move, why I believe Bitcoin is the
superior play, especially with you know the the traditional
system completely out of hand. He mentioned the 60 Minutes
interview which we played for you guys yesterday with your own
pal basically saying it's an unsustainable path for the US to
continue to print all this money and accumulate all this debt.
He is literally flexing. This is symbolic.
Him on the right and the results, the proof of work on
the left. And you want to know why.
The legacy media, that all the financial media is clearly on
our side now. But you want to know why you
still have some of the holdouts, Why Elizabeth Warren, you know,
is going nuts. She's short circuiting a little
bit. It's because of that You can't
stop that. No central banker or politician
could spin that in a negative way.
It is undeniable that Bitcoin is the superior asset.
Bitcoin is the black hole that's going to suck up everything.
And that, when Michael Saylor did during that earnings call,
was just flex. And here's the thing.
Here's the thing. We ain't even in the bull market
yet, ladies and gentlemen. The party hasn't even started.
You know the, the, the if we're in a race, like if you want to
use the race analogy, the cars right now, they're revving their
engines, they're going but they haven't, they haven't launched
yet, right. And these are the results so
far. Mark my words, it is going to be
irresistible for public companies and for nation states
not to adopt Bitcoin because if they don't, they'll look
irresponsible compared to the parties that have adopted
Bitcoin. And that is what Michael
Saylor's trying to do. He is leading, he's leading this
effort. He's the vanguard for this
movement on the public company level, and he said there was
three things that needed to happen in order for Bitcoin to
hit $5,000,000 per coin. Those three things were #1 banks
needed needed to have the ability to custody Bitcoin for
their clients. Multiple banks is all over all
around the world, including in the United States and in Europe
have applied for those licenses #2 He said that there needs to
be a change in the FASB accounting rules.
Those rules were changed. That's done and dusted, making
it easier accounting wise for Bitcoin for companies, public
companies specifically, to hold Bitcoin on their balance sheet
so that they can properly account for the losses in the
gains. The FASBE accounting rules
before prior weren't really necessarily favorable.
It made it kind of complicated. It de incentivized it a bit.
And the third thing he said needed to happen was the spot
Bitcoin ETF. And do you guys remember how
much they resisted that? Do you remember the cluster F
that was that release Maybe you guys forgot Gary Gensler.
You know the SEC account telling us how, oh you know you need two
of a on your account and you need a.
You can only trust words coming out of the SEC.
The SEC gets hacked. Because.
They don't have two of a on basically announcing that the
spot Bitcoin ETF was approved. They said no, it was a hack.
It wasn't real. Then the next day they say yeah,
it actually was approved. But then you know he's he's like
grinning his, like he's like, you know like like he he can't
contain himself. He's so angry about it basically
saying like, no, this is unacceptable etcetera, etcetera.
The DOJ press conference when the whole Binance debacle
happened, you guys remember that?
That was an absolute disaster, too.
They tried to associate, you know, terrorism with Bitcoin,
right? The the Wall Street Journal
article, the Fin CEN proposal, right?
All of that is an attempt to slow down the inevitable.
But you cannot cover up the facts.
You cannot cover up the proof of work.
You cannot cover up the numbers. And Michael Saylor just showed
them. You just showed them to the
world and to Kelly on a nation state level.
And again, this might be a coincidence and I'm
acknowledging that, but do you guys believe it's a coincidence?
I'll I'll make it an open-ended question.
You guys could answer maybe in the chat or in the comment if
you guys missed the live stream or on Twitter or on rumble.
Do you guys believe that it's a coincidence that the first
country that made Bitcoin legal tender also has the world the
most popular president? Democratically, I might add,
because they always like to use that word democratically.
Elected president in the Americas that just won his
election by 87%. Do you think that's a
coincidence? I don't think that's a
coincidence. I think that if you fix the base
layer of society and you align the incentives, all of a sudden
politicians are incentivized to actually do good by their
constituents rather than trying to get as close as humanly as
possible to the money spigot. So yeah, fix the money.
Fix the world. Huge, huge win from Michael
Saylor. Look at the symbolism.
Of course, My sailors dropping this, The hot fire, the sauce.
That's why we played you guys the video.
But look at the symbolism of what he was doing.
It was him saying what he usually says on all the
podcasts, right? But to his left were the numbers
were the proof of work. Like, yes, I won here and I'm
right and I know I'm right. And companies are not going to
be able to resist that incentive, especially the public
ones. There's going to be shareholder,
there's going to be shareholder pressure and eventually you're
going to start to see these big public companies start putting
small allocations, you know, on their balance sheet.
And what we're going to cover tomorrow is Fidelity.
Very, very big news on a conservative ETF. 1% is now
allocated to Bitcoin. Adam back posted the meme from
Lord of the Rings. You know, when the Urakai were
like trying to like, you know, seize the Fort and like the king
of Rohan at the time, like he was like here they come.
You know, like, yes, the herd is coming, But for anyone that got
in before the ETF, ladies and gentlemen, you frant ran Wall
Street. Anyways, Opti, what's your take
on all this, bro? Michael Saylor has me feeling
extremely, extremely bullish, bro.
Him dropping, hot fire flexing, just like, flexing like that.
Like, yeah, I told you so and I thought that was pretty badass.
Of course he did it in a very tactful way, in a very corporate
way, you know, like talking the talk, walking the walk, right?
But dude, it was still a flex, man.
It was still a flex, so. Yeah I mean I think, you know I
think we've been covering this for a long time and sailor's
just been putting on the Giga. Chad Sailor has just been
putting on a master class for the whole world to watch and and
you know just going balls deep in Bitcoin absolute legend.
And you know the way Sailor talks all the time you you can
tell that not only is he like Polish but he's talking to a
specific class of people and the way he is able to communicate
the Bitcoin signal the Bitcoin message.
Like anyone out there that that knows anything about anything
has to hear Sailor and be like man I definitely need to get
some Bitcoin because his you know like the the proof is in
the pudding. The results I think have spoken
for themselves and we haven't even gone into a bull market
yet. Like the the the bull market
profits that sailor's going to get is going to blow people's
minds out and I'm sure there's going to be even more people
that are like complaining and yelling and oh this isn't fair
but man he definitely risked it for the biscuit.
He put his own reputation on the line and now we're starting to
see it wasn't. More It was more than
reputation, bro. It was.
It was, yeah, his whole company. His company.
He's like, he just, he was like full.
I mean we all have done this. Like I went all in.
So did I know Opti. I'm 99% you went all in too.
The only big, the only difference is that Opti and I
don't have Fortune 500. Yeah, like.
Imagine imagine us buying 890 Bitcoin.
What? Like every quarter?
Just buying, you know, just 4000 Bitcoin every quarter 50.
It's all good, yeah. Only 32,000,000 like would love
to see that. But there's one thing that
Sailor said there that I that I think is very interesting and
it's something we've been covering a lot and and that Nico
and I personally feel is the idea of of entrepreneurs being
attracted to Bitcoin. Like if you're an entrepreneur
right now, yes there is some some hurdles and some obstacles
you have to overcome to be on the Bitcoin standard.
But we are starting to see and we've been seeing for the last
two to three years the brain drain that is being attracted
towards Bitcoin in away from the Fiat world and sailors hitting
on it. And and he even mentioned some
some personal anecdotes that he's seeing.
Seeing people whether in real estate whether on the corporate
level that they're all starting to get interested in Bitcoin.
And like we're going to cover tomorrow the the fidelity, you
know the conservative 1% allocation to Bitcoin in that
general ETF. You're seeing that not only is
this happening on the corporate level, the nation state level,
and yeah, and you know, we're talking about institution
adoption of Bitcoin, but what this is really doing is exposing
all of retail to the understanding that, oh wait, I
might need to hold a little bit of Bitcoin because this is the
only way to make it through what is going on.
And that's the stuff that gets me super excited is because like
men, everyone that has a brain left, anyone that still has
critical thinking has to be looking at Bitcoin and will be
looking at Bitcoin as this bull run enters that oh wow, I really
do need to get some exposure to Bitcoin in any capacity.
And it's not just this, you know, Internet nerd money.
It's like the the biggest and most high-powered institutional
managers, asset managers in the world and billionaires and some
of the the the most successful businessmen in the world are
starting to get Bitcoin allocation.
I might want to get some. As much as I try to avoid the
authority fallacy, people still look to successful people to you
know make decisions and I think Sailor is going to just show the
world that yeah, you need some Bitcoin.
So it's it's absolutely crazy that this is where we are
anyway. Sally, what's your thoughts over
there? Are you still with us, I hope?
So he he, yeah, Team seems like Sally.
Sally seems like Sally. It seems like you're having some
collect connection issues, my friend.
Try, try, try, try getting try using Google Chrome.
Exiting and coming back in, my friend.
Yeah. Anyways, dude, so absolutely
crazy. Absolutely crazy.
Michael Saylor dropping the hot fireman and really flexing on
Wall Street and absolutely embarrassing.
So hopefully Sally comes back for the culture.
But Opti, I think it'd be a good idea to talk about self custody.
What do you think? Yeah, if Sally doesn't pop in,
of course we could always do that.
Absolutely. All right, ladies and gentlemen,
no more delay. Let's jump into the culture.
But before we do that, I do want to give a very, very special
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All right, everybody, let's get to the culture.
We have a lot to talk about. Let's check it out.
The Daily Culture. Everybody.
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Check out kaboom racks today. All right, everybody, let's,
let's let's talk Somebody's is Sally here is Sally he.
Was just here. Yeah.
Let's see. Let's try this.
All right.
Sally, are you here? Sally, can you can you hear us,
Sally? Going once, going twice, going
to a Yep. No, it seems like his connection
isn't working out. All right, all right, all right.
Well, let's talk self custody. Look, I did a poll in the chat.
You know, I was thinking like, why?
Why do you guys Bitcoin? Why?
Why do we Bitcoin in the 1st place?
And the chat overwhelming overwhelmingly says freedom.
And part of that freedom is you have to self custody your
Bitcoin. As we all say in Bitcoin, if it
if you don't own the keys, then it is not your Bitcoin, not your
keys, not your Bitcoin. And so I do this all the time
and I I, I continue to try to get you guys up to date and make
sure that you guys are taking your Bitcoin into self custody.
There is in my opinion it's super simple.
What really is the hard part is, is the mental obstacles that you
have to do in the beginning. I think like once you understand
why you huddle Bitcoin and how to take self custody, it becomes
second nature. But the first step like you
know, acquiring or sourcing Bitcoin Coin can be its own
hurdle in general. And then the next step is taking
that Bitcoin either off in exchange or maybe you are one of
the lucky few that can do peer-to-peer transactions the
first time you ever touch and interact with Bitcoin.
And so usually that means that you have to download a wallet.
And I think personally, maybe this is not the best, the best
advice for long term storage, but usually the best way to do
this is by just downloading a mobile wallet.
And I have a bunch of wallets. I've been trying new wallets on
my phone, You know, I'm an I'm an Apple Maxi, so you know,
whatever. And let me just get some.
So I love Blue Wallet. Blue Wallet to me, has been my
daily driver for On Chain for a long time.
There's also Green Wallet, Green Wallet's, a great wallet.
And then I've been trying some new wallets recently just 'cause
I try to keep up to date with wallets and I'm I'm trying to
find something that I can start to use that is as as easy to use
as Wallet of Satoshi. We haven't fully got there yet,
but if you are trying to pay to use Bitcoin on Lightning,
there's Breeze Wallet, there's Phoenix Wallet, there's Zeus if
you have your own Lightning node.
And then the the newest latest runners is of course Aqua that's
using Liquid and Lightning as payment rails.
And I just downloaded Bitkit wallet this morning.
I was trying it out, it seems super cool.
I haven't uploaded it yet. I even was trying the Noster
application Primal which I guess has a lightning wallet attached
to it. So I haven't fully worked on
that one, but that seems pretty cool.
I haven't. I haven't totally used it but it
it seems like an an awesome new iteration on lightning Wallace.
And then of course you know we have our sponsor.
If you really want to update get yourself a hardware wallet.
I love the the foundation passport by foundation and then
of course the other other ones here you know the Jade for the
price point absolutely great. I got the translucent one you
can see it's it's getting a a green screen of course cold card
wallet. You guys know that and if you
want to buy or rather build yourself one off the shelf
parts, there's a seed signer and in my or there's desktop guys,
you know the desktop. If if you don't want to go buy a
hardware wallet you can also download like Electrum, Bitcoin
Core, Sparrow, Spectre on your laptop or your desktop.
These are all great choices in my opinion.
I'm sure there's some other ones that that you guys might
recommend, but these are the ones that I use and it's very
simple guys, What you want to do and and this is probably the
best practice, what you really want to do is say you bought
some Bitcoin on an exchange using Bitcoin.
Well or whatever your favorite exchange of choices don't send
all your Bitcoin at once. What you need to do is send a
test transaction, maybe go check out manpool dot space so you
don't. Actually it doesn't really
matter coming out of exchanges, they'll usually pay the fees,
but send a test transaction, don't send it too small of one
send, I don't know 5-10 dollars and then you'll probably have to
consolidate those UTXOS. But send a test transaction to a
wallet that you control. Make sure you have written down
your seed. You can use paper for now, but
eventually you want to. Where is my eventually you want
to get it to titanium or something that is
indestructible. Stamp, seed, stamp, Seed.
Exactly. And then promo code stamping.
Yeah, and then erase the wallet. Literally nuke the wallet and
you're like, Oh my God, I just sent money to it.
Why would I nuke the wallet? Well the point is if you have
those seeds words backed up then you can get back into that
wallet and once you get back into the wallet and you see that
your 5-10 dollars is there then send your whole stack to your
wallet. And then another thing to really
be considering about is we are starting to see, especially with
all the you know, ordinal guys and the and the on chain NFTS
and all that crazy spam. As far as I'm concerned the the
fees might get crazy and we're going to move into a bull run
and as more people jump on Bitcoin the fees might get
crazy. So make sure you're
consolidating your UTXOS and this is as simple as just
sending a transaction with all your Bitcoin to a new address
and that will consolidate your UTXOS and your Bitcoin.
You know, I I did, I just read an article by my boy Joe Rogers
at Bitcoin Magazine. You guys could go check it out.
I think the recommendation is make sure sure that if you are
consolidating your UTXOS for long term, you want to at least
have like a 10 million SAT .1 OBTCUTXO minimum.
Obviously there is some privacy concerned.
Maybe you don't want to put your whole stack into one UTXO
because when you send your Bitcoin you might be exposing
your holdings to people that you maybe don't want to do.
So you can consolidate these and and think about this
differently. You can have like your long term
a huddle storage which is like a big UTXO and then you can kind
of have your your checking account and the big UTXO could
basically be considered your savings account and then some
small UTXOS that you can maybe send to like a Lightning wallet.
I I love Phoenix. I I'm one of my buddies kind of
got mad at me because there's you know you have to send like a
big transaction to Phoenix before it really works
seamlessly. Of course there's also Mutiny.
I love my boys over at mutiny. There's also Coin OSI haven't
fully used it but it does seem to be working very good on a web
browser. But the process is very simple.
Guys acquire Bitcoin any way possible.
Usually first steps for most people is an exchange.
Go to bitcoinwell.com. I don't know if there's a slash
simply Bitcoin URL yet, but stack Bitcoin and then get
yourself a mobile wallet. Send your Bitcoin to that mobile
wallet. Again, the reason we tell you
this is because not your keys, not your Bitcoin.
We believe the revolution is self custody.
We understand that most of you guys out there are just retail.
You guys are just average everyday people like us and you
guys aren't institutions and you probably don't even have a four
O 1K like myself. And so you just want to hold an
asset that cannot be debased. And so you're stacking and
you're saving and Bitcoin. So you want to make sure that
you are holding keys for yourself.
Make sure you don't take a picture on your phone.
Make sure that C doesn't go to a cloud because you're exposing
your basically keys to the Kingdom.
And this is the most important thing to be doing guys, is
taking Bitcoin into self custody.
As more of us join the Bitcoin parallel economy, as more and
more merchants start to adopt Bitcoin, as more average
everyday citizens start to use Bitcoin, this peer-to-peer
economy will start to proliferate.
And like Neel Kashkari was saying in the beginning you'll
start to experience and run into more people using Bitcoin.
But the process is super simple guys.
Get Bitcoin on an exchange. Danger, I don't care, you know,
use Robosat or you know huddle, huddle or bisque.
There's a lot of ways to get Bitcoin.
I think that that is the that that part to.
There's a lot of debate and there's a lot of contention in
Bitcoin. To me, just get Bitcoin.
Once you're in Bitcoin, I I don't think it it really matters
at the end of the day when we win this monetary war.
But download a wallet. I like Blue Wallet.
Blue Wallets been a solid, sturdy wallet for me for years.
Now it's one of my daily drivers.
I'm starting to play with some more Lightning wallets.
Of course, if you're not in the United States, just download
wallet Satoshi. Again.
There's there's contention because it's custodial, but it
works and that's what most people want.
They want the convenience a bit working.
Amen. Amen.
Yeah. And.
Then just do the testing that I was telling you, and then make
sure that your seed's backed up. And once you know that you're in
control of that wallet, then dump your savings into Bitcoin.
Continue to stack. Go.
Check out BTC sessions if you guys still need help with
onboarding. Passport by foundation.
They offer a concierge one-on-one on boarding.
If you guys need help setting up your hardware wallet or check
out BTC Sessions. He offers one on ones as well
and it'll help you. You know it's kind of like a a
hold your hand. And of course our sponsor the
Bitcoin way and they offer a concierge service as well but
from everything by the way. So wall node setup, wallet
setup, anything that you can think of.
The Bitcoin way guys have your back, so definitely, definitely
check them out. Wait, can we can we read this
Comment? Optimist field central bank
paleontology expert says simply Bitcoin.
What is it? Simply bearish.
Only bears Consolidate. UT, XLS Why should I consolidate
if Bitcoin is Infinity dollars per SAT?
Yeah bro, you're trolling, you're trolling consolidate your
UTXOS. Good UTXO hygiene is important
guys. And and then you know you could
also eventually move towards like a multi 6 setup.
Maybe consider coin joins. All that stuff follows, but for
you guys just getting your toes wet in self custody, just
download a wallet on your phone. 100%, it's.
Very simple guys A. 100% Yeah, so and like I said, guys, check
out the Bitcoin way. If you guys need help this, it
is literally your Bitcoin IT team.
They'll help you with self. They'll help you with wallet
individuals, businesses, inheritance planning,
inheritance planning, concierge service.
So they have your back, So there's apps, there's so many
different avenues, so many different ways for you to get to
get on boarded to properly secure your Bitcoin future.
The the wealth for your for the future generation.
So you have absolutely no excuse And and Opti walked you through
every single wallet on the face of the earth.
You're a blue wallet. You're a blue wallet junkie.
I mean, blue wallet is good for the phone.
I forgot Electrum and for the phone it blew all out.
It's good. It's.
Great for the phone. I love the.
Phone For the phone it blew all it's good, but for for desktop,
spare and spare electric. Yeah, yeah.
And let's spare Electrum or dope.
Let's kind of flush this out a little bit guys like putting
some Sats on your phone in a hot wallet for like a short term,
maybe some spending Sats like that in my opinion is good.
But if you are storing your Bitcoin long term, then you
know, you consider like a Sparrow or Electrum or you know,
just going OG with Bitcoin Core or hardware wallets like this is
what they're for is to secure your Bitcoin long term.
And then, I mean, some people would even say like if you're
not going to spend Sats, just send it to cold storage and you
know Bitcoin and you'd be good 100.
Percent Anyways, before we wrap it up, I do want to give the
results of the poll, Opti asked In the beginning, Why do you
Bitcoin? 55% of you said freedom, 23% of
you said FU money, 10% of you said permission lists, and 9% of
you said number go up. 261 people participated in the.
Mellow says in the chat the true answer to the survey is yes.
Yes. Why do you buy?
Exactly. Just yes.
Anyways guys, I hope you enjoyed the show.
My name is Nico. I'm your host.
This is my legendary Co host Optimus Fields.
We're in number one source for the peaceful Bitcoin revolution.
If you guys have enjoyed the show, you know what to do.
Smash that like, but consider subscribing if you feel like we
provided you value. And we'll see you tomorrow for
the Thursday episode of Simply Bitcoin Live.