Yo. Bitcoin's down 50% since its
peak in October of 2025. Many people are beginning to
blame quantum computing, As crazy as that sounds.
Bitcoin OG Willy Wu has officially sold all of his
Bitcoin. The question is why?
Well, he sent out a viral thread yesterday showing that Bitcoin
has officially lost its 12 year trend against gold.
And his explanation? He blames quantum computing for
this breakdown. Let's do a deep dive into the
thread itself and let's get to the bottom of it.
No pun intended. All right everybody, So what is
Willy Wu talking about? S 1st off.
He starts off the thread with a 12 year trend broken.
BTC should be a. Valued a lot higher relative to
gold. By the way, he's not the only
one saying this. We also have the one and only
legendary Lynn Alden saying this as well.
We'll play you guys a clip in just a little bit.
But he says. It should, it should be, but
it's not. The valuation trend broke down
once quantum came into awareness.
Don't read this post if you want to stay high on opium instead of
seeing things as they are now. What's quite interesting as
well, ladies and gentlemen, is that around this time Michael
Saylor, specifically, I believe in his last earnings report
Opti, he said that he was going to focus some of strategies
resources into the whole quantum thing.
So a lot of a lot of people are looking into the quantum threats
or the yeah, I mean, you, you, you should call it a threat.
That's what it is, a quantum threat to Bitcoin as a problem,
as a real problem. And potentially it's giving some
investors cold feet, specifically traditional
financial investors. Now what I what I will say about
this as well is from the research, and again, I'm a media
guy. I'm not really a, a tech guy to,
you know, talk, you know, at an expert level about quantum
computing. But I, I have done a lot of
research on the topic and from my understanding is that any
type of quantum related threat is still at least a decade away,
perhaps even longer than that. So we're 10 years out.
Think about how long 10 years is like think about where you were
in life 10 years ago. Think about where Bitcoin was 10
years ago. That's not to say it's not
important to get ahead of it, but I do believe that the
threats are a little bit overblown.
And the reason I'm saying that is because quantum computing
threatens all traditional encryption, not just Bitcoin.
So your banks, your banking account, your favorite messaging
app, anything that is sensitive, that relies on encryption,
quantum threatens all of that. It's not just Bitcoin in and of
itself. So again, you know, obviously
cryptographers have to get ahead of this as a whole and there is
already kind of proposed solutions for all of this.
So anyways, Willy Woo gets into the thick of it and he has a, a,
a chart Bitcoin verse gold, Quantum Bitcoin summit.
He's, you know, he's, he's pointing the arrow and then
first mention of Quantum on core dev mailing list.
And he again, he's making the case that this is the reason as
to why Bitcoin is not appreciating higher than gold.
And it's actually broken that trend line that it's held really
since 2013. That trend, that trend line has
officially broken down. And I mean, if you compare this
to what happened last year with Bitcoin and gold, Bitcoin and
gold had an amazing year where it actually outperformed Bitcoin
and ended the year with 60% up. Gold ended the year, I mean,
Bitcoin ended the year with like 8% down and silver did well
also. But a key question here, ladies
and gentlemen, is that the gold does not solve the problem that
Bitcoin solves. In fact, we've tried this whole
gold thing already. We've tried it.
And the problem with gold is its physical characteristics.
You can't really transport gold anywhere around the world for
pennies on the dollar. That leads to the centralization
of the custody of gold because it's very heavy.
You want heavy security around it.
It's not absolutely scarce. So if you compare Bitcoin with
gold in terms of characteristics, Bitcoin you
know, beats gold in every single sense.
However, it seems like the market is not interpreting that.
Some people are saying that Bitcoin is just playing catch
up. So anyways, but this is I think
a really good point from Willy Woo, basically pointing out that
the trend has been broken. He goes on to say likely BTC
will be patched with quantum resistant signatures.
This doesn't fix the issue of 4 million lost coins coming back
into circulation. I'd say it's 75% chance that
lost coins will not be frozen by a protocol hard fork.
So the risk adjusted sale 4 million coins needs to be priced
in. To put this in perspective,
since strategy started accumulating BTC in 2020,
setting a trend, only a total of 2.8 million BTC have been
accumulated by all companies and spot it and spot ETFs. 4 million
lost coins equals 8 years of enterprise accumulation.
The market has already started pricing in the return of those
lost coins ahead of time. This process completes once the
Q day risk is off the table. Until then, BTCUSD will price in
this risk. QDQ day is 5 to 15 years away.
That's a long time training with the cloud over its head.
Unfortunately, the next 10 years is when Bitcoin is most needed.
It's the end of the long term debt cycle.
It's where macro investors and sovereigns run into hard assets
like gold to shelter from global debt deleveraging.
Hence Gold Moons without BTC. Adam Back describes a path where
vulnerable signatures such as Satoshi era, PTPK, and the
latest Taproot addresses can be frozen via soft fork.
Effectively, this implementation, if chosen, would
be the path to freeze lost coins.
Here is Adam Back responding to a a tread, you know thing going
back and forth. Adam back responds and then
insecure signature algorithm is. How do you say that up to you
depreciable? I'm not even going to try that.
I wasn't even going to get that without your help.
Via soft fork. No hard fork required.
Bitplates responds with. Isn't quantum computing
irrelevant if the public key is never revealed?
Never been spent from a Bitcoin address so your coins are safe
for maybe 25 plus years until short range attacks are
possible. Doesn't mean the market won't
price in the risk of Satoshi's coins being hacked or dumped.
Early signatures and latest Tapper signatures have their
public keys in the open. Adam Back says don't think it's
realistic. Insecure signature algorithms,
whether due to classical crypto analysis, attacks on discrete
log or cryptographically relevant quantum computers,
would get deprecated, same as other crypto schemes going back
decades in Internet protocols. So it's not only Willy Wu saying
this as well. And again, this goes back to
20202025. He says, all good, I sold all of
mine. And again, this is making the
announcement that he sold all his Bitcoin.
I think Fred Krueger actually asks a very important question
to do what, which we'll get to that in just a second.
But it's not only Willy Wu, you know, mentioning the quantum
stuff, it's also Lynn Alden. Here is Lynn Alden, one of the
latest episodes of Bank Lists. And into the other question, I
have been, you know, Bitcoin has underperformed my expectations
in this particular cycle. You know, I started out with
conservative expectations, which was the I thought the 2021
cycle, I thought we'd get to a trillion market cap.
We did. Once we got there, I was like,
yeah, I could see us hitting 100K this cycle.
We did. And we only got to like 69 K.
So my, my kind of revised bullish take wasn't quite met.
Even my first one was let me go into the bear market.
Then I, I basically said I'm not really going to try to make a
price target this cycle, but I went pushed.
I would say anything under 150K is kind of disappointing and we
only got to 126. So I would say it's, it is kind
of a second, you know, kind of a lackluster cycle.
I think treasury companies took some of the euphoria out of it.
So some of the money that might otherwise have gone into say
just cold storage Bitcoin goes into, you know, leveraged shares
of these treasury companies that are trading at X times, you
know, MNAV, which takes some of the price action out.
So I think maybe without those you could have gotten a little
higher, but then also they they were also partially fueling the
buying of it to some degree, especially micro strategy.
So yeah, I think the overall this was a, a somewhat
disappointing cycle. It doesn't change my long term
thesis about it. And that basically a, a
decentralized Ledger is still very valuable.
It's the only way to do, you know, that we know of to do
permissionless payments and portable secure savings.
And then the second part of the thesis is, well, that these
things have network effects. So you pick one that you view as
decentralized secure and is likely to win the basically the
liquidity war, the network effect war.
Obviously we have, we have disagreements around say Bitcoin
versus Ethereum and others. I've been in the, the Bitcoin
camp, which is OK. So decentralized Ledger is
valuable. That's the largest, most liquid
one. It, it's kind of the one that's
kind of geared towards simplicity and, and kind of, you
know, maximal decentralization. And so the thesis is that would,
would continue holding up and also has bullish on stable coins
along the way as well, even though they run on largely other
rails. And I would say in this cycle,
you know, big Bitcoin is still, you know, dominant
cryptocurrency. So 17 years in, I think that
part of thesis continues to hold up.
Well, you know, people have their their views on quantum and
other factors that contribute over the next 5-10 fifteen
years. But so far, I say that part of
thesis is on track and the part that's going slower than
expected is just the demand for any decentralized Ledger, which
is I still think it's valuable, but I do think the world's kind
of maybe a little slower to recognize its use.
So back to, you know, some other people's opinions on this as
well, right? Whether you guys like it or not,
the quantum fear is a big one in the eyes of investors and could
be playing a role as to why gold has been outperforming Bitcoin
for the last year or so now. Here's some more takes on the
quantum related side of things. Here is Tama Bees has a lot of
quantum FUD. By the way, the quantum FUD has
been around for a long time. Ever since I've been in this
industry, you've been hearing about the quantum FUD.
So really, I remember since 20/17/2018 you were hearing
about the quantum FUD and it's been what, almost a decade later
and you're still hearing about the quantum FUD.
I think the only difference between that era and time and
now is there's a lot more money on the line.
There are publicly traded companies, there are sovereign
wealth funds. Back then we were just a, we
were with bunch of plebs, you know, dollar cost averaging $100
a day, right? If you are sovereign wealth fund
or if you're a nation state, you obviously don't want to put your
cover your your country's wealth into something that could
potentially be compromised by quantum computing, which is why
I believe it holds this quantum narrative holds a lot more
weight now than it did back then when we were just a bunch of D
Jens in the trenches of Bitcoin slash crypto Twitter.
Any who So it goes on to say what if 4 million lost coins say
75% recoverable? Whoever breaks it knows dumping
crash crashes price. So they sell OTC to the US
government at a discount. 50% price doesn't move or even goes
up. Is that a feasibility?
Wicked, who's been pretty well known in the space, He's been
around here a long time. He says it won't be 4 million
coins. Most exposed coins will be moved
as soon as the threat emerges. And they'll be lucky if they get
2 million tone tone vase responds.
Also I don't understand why everyone is expecting all these
keys to be broken on the same day.
Say quantum computing. Did quantum computer did crack 1
of Satoshi's old keys? It would probably have taken 5
plus years of attacking one wallet for 50 BTC.
The worst case scenario is another few years before 50 more
coins get cracked. Maybe by 2050 we will be at one
wallet per day possibility parentheses.
And even that is probably a crazy 10X overestimate of
quantum risk. So I personally, my own
perception of this based on research is I think that these
threats are overblown. Here are Global's takes on this.
And he says in approximately 18 months we will discover how
quantum computers actually require Bitcoin mining's massive
hash rate as entropy to entangle atoms, Much like how the carbon
emissions FUD ended up with mining as a technique to reduce
global CO2. This will mean no one will dare
attack Bitcoin and effectively destroy their QC.
The most entertaining outcome is the most likely.
I really like that take, but I don't know who knows.
Anyways, here is kind of like the Twitter news AG.
I think an AI does a summary of this and it says Bitcoin plunges
to decade low against gold amid quantum fears on chain analyst
Willie Wu shares a chart showing Bitcoin trading at historic lows
against gold around 14 to 18 oz per BTC as gold surges on safe
haven demand. While Bitcoin lags, fears center
around, Herbetter said on quantum computers potentially
unlocking 4 million dormant BTC from pre 2011 wallets, though
experts say such machines are years away.
Post 2030, voices like Ray Dalio push gold amid global tension
and U.S. debt woes, while Bitcoin advocates like Michael
Saylor counter that it offers no true no counterparty safety,
highlighting A deepening divide on what counts as the real store
of value. And I do want to refer to Ray
Dalio's thread on this 'cause he recently just dropped it and
it's actually pretty good article or thread or whatever.
It's an article really. And he he makes a claim.
It's official. The world order has broken down
and it's funny you see sailor here in the comments responding
basically that hey, if you believe the world older is
breaking down own the asset with no counterparty Bitcoin of you
got Simon Dixon in here and this is basically the theory of Ray
Dalio. The theory of Ray Dalio.
If you guys have seen his YouTube videos or read his book
is that empires last in kind of two 250 year cycles and
basically the last in 250 years. We've seen the rise of the
United States, which he makes the case is on the decline
before that the British Empire, before that the Dutch.
And he's making the case, Ray Dalio makes the case that it's
actually China that that is taking the place of the United
States. And in between these, you know,
overlapping, you know, empirical cycles, so to speak, there's
actually tension and actually the global order breaks down.
And this is kind of where we are in the movie.
This is the whole basis of his book.
This is whole the whole basis of his theory.
And this is the explanation as to why gold is going up now from
a Bitcoiners perspective, going back to Willy Wu's case.
Listen guys, at the end of the day, if you put ideal ideologies
aside, I'm a free market maxi. I, I, I truly believe in the
free market. I think the market is the
ultimate source of truth. I think you can have opinions,
you can have ideas, but ultimately the, the market is
going to get to determine what is the truth, what is valuable
at at a much higher degree of accuracy than any one person or
anyone opinion those that's the power of markets.
That's how I feel about markets. And ultimately the market is
speaking the the, the market is making its voice heard.
And this kind of reminds me of the early days of of stable
coins. The original thesis was that
Bitcoin was going to be the currency in developing markets.
Because developing markets had relatively unstable Fiat
currencies. And because they had relatively
unstable Fiat currencies, they would need a non sovereign
decentralized alternative that their local governments couldn't
shut down. Now here's the thing.
That theory ended up playing out, but it wasn't Bitcoin.
That was the currency that is being used the most in
developing markets. It ended up becoming tethered.
It ended up becoming stablecoin. So people did want an
alternative to local currencies, but it wasn't Bitcoin.
It was actually Tether that took that spot.
And the reason for that is because Bitcoin was too volatile
and most people don't have disposable income.
Bitcoin I think is the best saving things the world has ever
seen. But if you're living paycheck to
paycheck and bitcoins volatility purchasing power, most people
that are living paycheck to paycheck are not interested in
that. What they're interested in is
being able to put food on the table.
I think this is where stablecoins solve that problem,
that the reason I'm bringing up that example is because that's
an example of the free market speaking.
That's an example of the free market getting to decide.
Listen, like, yeah, your Bitcoin thesis was great.
It was fine. However, that's not actually
what the market wanted. The market actually wanted
something more stable, more stable.
It actually wanted AUS dollar alternative or U.S. dollar
equivalent that people can transact with in these
countries. And the market has shown that.
Now. The market is showing right now,
whether people like it or not, that.
That they value gold for whatever fucking reason, Excuse
my language, like it for me, for my perspective, I do like
physical gold, but there's a limitation to physical gold.
And that that limitation is its fair.
It is its very physical characteristics.
Also, if you have like $1,000,000 worth of gold and you
go try to sell that, go try to sell that.
You're going to get like 20-30 percent below spot price.
If you try to sell that all in one go, you can't transport it
effectively. Let's say you have to flee your
jurisdiction because of a a government persecution.
Good luck crossing the border with that gold.
This is this is where Bitcoin solves the problem.
This is why Michael Saylor is talking about no, no
counterparty risk it it does solve that problem.
Like whether you like it, it that's just the reality of it.
So you know there is a solution to this, this quantum perceived
threat. I don't, I don't I, I, I don't
see quantum computing being an issue for the foreseeable
future. But I think Willy Woo does have
a point here in terms of this could actually be something that
the markets are perceiving as a potential, you know, a potential
threat to Bitcoin, Not necessarily the Bitcoin protocol
as a whole, not necessarily the value proposition of Bitcoin.
But the market is basically saying, look like these 4
million coins might be dumped on the market it in the next 10
years or so, 10/15/20 years. That could be a thing.
And if you're, you know, if you're trading or if you're
trying to put, you know, value into Bitcoin, you're essentially
pricing that in. And that's the case that he's
making. Simultaneously, though, we have
to be honest and we have to be true about incentives because
incentives ultimately rule the world.
I think it was the the, the late Charlie Munger that said a very
famous quote. He said, if you want to see the
outcome, show me the incentives. Ultimately, Willy Wu sold all
his Bitcoin. So what is Willy Wu?
Incentivize What? What would what would make Willy
Wu's day if the price of Bitcoin went down?
Why? Because he could buy more
Bitcoin. So you know, it, we could just
be writing a situation where gold outperformed.
There's, I don't think anyone could have told you in January,
January of 2025 that gold would have outperformed Bitcoin.
But you could be making a case that this is an opportunist
post, right? It's kind of like hindsight
2020. It's like you're looking back
and you're like, oh, it was obvious this was this was going
to happen. And let me craft my post based
on the current market sentiment, right?
That could, you could make a very good argument against that.
I mean, for that, right. My again, my personal take on
this is I don't think quantum computing is a threat to your
Bitcoin or to Bitcoin in general for at least a decade.
I think even more than that, to be honest.
I think theoretically that it theoretically it could be a
threat, but I don't think for the foreseeable future.
But that's not to say that investors are not spooked.
Simultaneously, me and Opti did get a very interesting text
message late last night. I think we'll talk about it
tomorrow. OK, we'll talk about it
tomorrow. But basically the TLDR is this.
Some very powerful, influential, politically connected people are
continuing to buy massive amounts of Bitcoin.
So if, you know, they perceived quantum computing to be the
threat that it was, then they wouldn't be doing this.
It's also not those people that we're not going to talk about
today, but it's also the country of El Salvador.
The country of El Salvador continues to buy a Bitcoin a day
and that hasn't stopped. So yeah, I mean, that's kind of
the TLDR right now. I think that this is just an
excuse as to why Bitcoin isn't going up.
I think this is kind of like a justification.
I think this is like Monday, Monday morning quarterbacking.
I think this is just like not diagnosing the problem.
Like people just kind of confused if I were to and and so
far I've been right about this. If I were to look at the
previous cycle, I do agree with Lynn.
I do agree with a lot of other, you know, notable people in the
space that it was a disappointing cycle for without
a shadow of a doubt. I think expectations are running
high. But I do remember that in the
beginning of 2025 when we were in the euphoria Phase, I do
remember when Bitcoin was making all time highs versus gold.
I do remember telling Opti something and I said, you know,
what worries me about this year is that everyone is treating
this as a sure bet that Bitcoin is going to make all time highs
at the end of the year. And markets don't behave that
way. Like if everyone thinks that
Bitcoin is going to make all time highs, that that's not the
way markets work. Bitcoin isn't going to make all
time highs, right? Markets do the exact opposite of
what the consensus believes and thinks.
So, yeah, I mean, quite, quite interesting theory here on Willy
Wu. Optia.
I do want to get your take on all this, man, because the
quantum computing argument or FUD or whatever threat, dude,
this has been around since you and I have both got into this
industry. This is not something old or or
new, but most importantly, man, like I think that this is just a
justification or or or or or trying to like a like a coping
mechanism as to why Bitcoin didn't perform the way that it
did in the previous year. That that that's, that's what I
that's what I see in my honest opinion.
I'd love to hear your thoughts. Yeah.
No, I, I'm totally on board with what you said.
I, I personally think that this is cope.
We've seen the reason we're really talking about it is
because we are seeing, it's not just Willy Woo.
We're, we're seeing a lot of people talk about the quantum
concerns here. And obviously as a Bitcoiner you
do, it does kind of perk your attention at first you're like,
oh, wow, you know, maybe I should pay attention to this.
Is there some advancements in quantum computing that I wasn't
aware of in the last couple of days?
Because we do know technology is moving very fast, but it it does
seem like hope. Now the chart that Willie Wu
posted, it is somewhat convincing.
You know, you look at it, it's like, OK, we had a 12 year
downtrend or rather gold had a 12 year downtrend against
Bitcoin. And you you know, you pick some,
you cherry points, some some data points here.
Yeah, you you know, you go just full screen this chart and and
you know you, you look at that chart and or just click, click,
click the picture so they could see it better.
And yeah, it is, you know, Bitcoin did lose this 12 years
downtrend, or rather the 12 year downtrend of gold price in
Bitcoin. It did break out.
Now it, these data points do make it seem like, oh, wow, you
know, the first time and also the framing, the first time
Quantum's been mentioned in the, you know, Bitcoin Core developer
mailing list. And then we have the Quantum
Bitcoin Summit. To me, it, it really I think is
a lot of cope. And and it's like we said, you
know, if you look at Willy Woo right now, he's been in Bitcoin
for a long time. He is a Bitcoiner, but he did
sell his Bitcoin. What was that July of last year?
And that was before Bitcoin even hit an all time high.
And when he sold his Bitcoin, what he officially said wasn't
like I'm concerned about quantum.
Now he's kind of saying I'm concerned about Quantum and I'm
so right and vindicated for selling my Bitcoin.
But we all know he was basically saying, Hey, I think I can make
better gains if I, if I put my Bitcoin in some kind of, you
know, either digital asset treasury company or Bitcoin
startup. So his original reasoning for
selling his Bitcoin wasn't necessarily quantum FUD.
Now we're seeing, because the quantum FUD is becoming kind of
one of the hot button topics right now.
We are seeing rumors that apparently, you know, some Wall
Street investors aren't, aren't buying Bitcoin or they're
selling the Bitcoin because of the quantum FUD.
I I think this is this is all cope because when you look at
the people that are really parading this quantum FUD idea,
most of them have quantum computing investments that in
their portfolio. So again, you got to look at the
incentives. Now, the reason we probably are
talking about this, maybe it is the bottom signal like the chat
is saying, but there are a lot of people talking about this,
whether it's on the corporate press.
I have gotten some text messages from friends about like, what
about the quantum computing? And I'm like, bro, that's like
not really a concern. It's not it's obviously a
concern, but it's not just a Bitcoin concern.
One, it's not going to happen tomorrow.
It's not going to happen next year.
And two, if quantum shooting does get to this level where it
is actually a fear, we have way bigger problems than people
cracking Bitcoin wallets. It's like all of the modern
world is cut. And so you're looking at all the
FUD and it does make you feel, or rather it does make it seem
like these are just bottom signals and people coping for
what is the new reason for the Bitcoin price dropping.
You know, I'm, I may not totally agree with Nico, but I think we
know what happened with the price.
The four year cycle was kind of intact.
Still, you know, so I think the fact that people are are
parading this idea out like, oh, look at looking backwards in
hindsight. It's so easy to say, hey, the
quantum FUD is the reason for Bitcoin dropping.
I, I think it's complete cope. I, I don't think this is the
issue for why Bitcoin fell. Yes, it is starting to come up
in the conversation, but it's not a new conversation.
I think what it is is kind of one of those things that we've
been talking about for a long time.
It's this eternal September moment where new people are
coming into the space. It's the I, I just found
Bitcoin. I'm here to fix it.
You know, I'm new to Bitcoin. I'm here to fix it.
And now this is becoming the the cope, the FUD that everyone
wants to talk about. I don't think this is the reason
for Bitcoin dropping. I don't think this is even
really a concern for Bitcoin just generally for itself, or
rather specifically for itself. It is generally a concern across
the board for everything. And as we've seen the, you know,
the Bitcoiners have been or not necessarily as, because they're
not developers, but Bitcoin developers have been talking
about quantum computing for a long time before it was really a
trendy conversation. So this isn't, it's not going to
be one of these things where Bitcoiners get blindsided
because of quantum computing. I think, as a lot of people kind
of mentioned, I think Bitcoiners are going to probably be more
prepared for this when it is an actual threat.
And it's, it's something that's coming down the, the, you know,
the pipeline a few years from now, But there are people now
now currently making the case that if we don't figure this out
now, it's over. And I think this is part of what
Nika said a minute ago. I don't think the quantum FUD is
the specific reason for Bitcoin to crash, but I do think that
people parading this FUD in this narrative that, oh, This is why
Bitcoin crashed. I think it is starting to build
on, on the sentiment or the negative bearish sentiment on
Bitcoin. And we're just seeing as as I
mentioned a couple of days ago, we're seeing all of the bud get
paraded out right now as Bitcoin is in the 60 K range or you
know, 60 to 70 K range. And it does make you it make it
seem like these are really good classic bottom signals.
When all the FUD gets paraded, that's usually when people are
taking their victory laps and saying, Oh, Bitcoin's over.
I told you it was over. Like we just saw the Atlantic
did a hit piece on Bitcoin. It's called like crypto success
is its failure or something like that.
And so you're seeing all the fun happen.
I don't think this is really the concern that most people think
it is. I I think Bitcoin fell just
because of liquidity and macro factors and people thinking of
the four year cycle. And then on top of that, add the
different fun narratives. But again, always focus on
incentives. And if you're on Twitter like we
are, most of the people that are parading this FUD around have
basically quantum computing bags.
They're like, we're going to solve this, we're going to FUD
it. So it makes it like it's a big
issue. And hey, guess what?
My Portfolio is? It's totally aligned with
quantum computing benefiting Bitcoin or you know, me
benefiting of quantum computing being solved.
So I, I don't think this is a concern.
I, I think it really is bottom signals.
Like we're seeing a lot of people parade the FUD from every
corner and that is, that's just kind of stuff you see at the
bottom of bear market. So hopefully this is a classic
bear market signal. I mean, dude, look, if you've
been in the space for a while now, yeah, I noticed that too.
I think we just got to change the frame.
If you've been in this, if you, yeah, just change the frame.
If you've been in this space for long enough, you've heard the
quantum FUD or the quantum, you know, narrative for you've heard
it 1000 times. It's, it's not something new to
you. You, you, you hear it every
single year. In fact, not only do you hear it
every single year, you hear it at the bottom of every single
bear market. This quantum, this quantum FUD
or this quantum talk has continuously been brought up for
the last 10 years that I've been in this space.
It it never fails. It's always there.
It's always being talked about. So you know, again, it does this
surprise me at all whatsoever? No, it, it doesn't surprise me.
It doesn't surprise me that it's it's being brought up.
This is this is kind of bottom signals.
This is what I'm, I'm feeling. This is bottom signals is this
is like this is cope. This is like, Oh my God.
The reason the reason all of this is happening is because of
the quantum fears and the quantum FUD.
And quantum's going to crack all of Satoshi's, you know, private
keys and all that Bitcoin just going to be sold onto the
market. And you know, this is not like
I've, I've heard this so many times before.
I just think that this cycle is a little bit different and I
think it's a little bit different because of the players
who are involved. And I also think that for the
first time in a long time, really since like 2018, I feel
uncertainty back in the market again.
We haven't had this much uncertainty in Bitcoin in a very
long time. Opti before like people can't as
time progresses, more and more people are basically losing hope
that Bitcoin can reach all time highs.
Like people are basically losing hope that Bitcoin can reach 200
K 300 K400 K500K. And that uncertainty is what
creates the perfect conditions for the next move up when it
inevitably comes because the core thesis behind Bitcoin
hasn't changed. The characteristics of Bitcoin
hasn't changed. If you take a look at the hash
rate, it continues to make all time highs.
So again, are you a believer or do you have conviction in your
holdings? If the answer is yes, then hold
on DCA dollar cost average, take advantage of these of these low
prices and accumulate your stack and we could go lower.
Take advantage of the prices going lower if and when they go
lower, right? But I love the fact that
uncertainty is back because we had a three-year high of
complete certainty that Bitcoin was going to go to the moon and
beyond, and now reality is coming back.
It's smacking everybody in the face.
It's saying wake the fuck up, sunshine.
And I think that's a good thing. And I think that's not a bad
thing. I think it humbles the F out of
you as a Bitcoiner. It makes you feel the pain, it
makes you feel why you're here, and it reminds you why we're
here. And I think a lot of people have
forgotten, you know, the reason as to why we're in Bitcoin and
the reason we are in Bitcoin is again to escape this, this rat
race to escape the traditional financial system.
It's to escape, you know, the, the, this Fiat nihilistic
mindset. This is what Bitcoin is all
about. It's about individuals
reclaiming back their financial sovereignty by buy Bitcoin or
any Bitcoin mining Bitcoin and and taking that Bitcoin into
self custody. That's why we're here.
This previous cycle. What concerned me Opti is the
fact that people forgot the core reason, the core logic as to why
we became bitcoiners in the 1st place.
It was this over financialized cycle.
It was the treasury companies. It was it was, you know, as as
much of A of a fan as I am of sailor.
It was strategy, this strategy, that treasury company, this
treasury company that, that was the main thesis of this cycle.
It wasn't all coins as it was in 2021.
This cycle was the cycle of of treasury companies, right?
And I think a lot of the the potential and Lynn Alden said it
in her in her bit. I think a lot of the potential
parabola that would have happened happened normally.
I think a lot of that cash went into treasury companies and I
think it was actually Mauricio, the Co founder of Leaden that
pointed this out to us. We did have a parabola, it just
didn't happen in spot Bitcoin. But if you look at strategy,
strategy had a textbook parabola.
It went from like what, 1015? No, I went from like $1520 a
share to $500 a share. It, it, it went crazy.
It went it went bananas. We had a parabola in strategy.
We just didn't have a parabola in spot Bitcoin.
And I think that is what has caught a lot of people by
surprise. But this is what markets do.
And I think a lot of people have forgotten that, right?
So again, we're heading into the unknown.
It's like Christopher Columbus again, you know, the whole point
of him originally sailing, I saw some SNL skits on this is
hilarious, like with Bad Bunny and stuff.
But the whole reason of him like, you know, originally
sailing was, you know, he wanted to get to China, Like Spain
thought that they would be able to get to China in a more
efficient manner. And they ran into the Americas
in the in the process, right? But there was an age of
discovery. There is an age of uncertainty.
And this is where we are in Bitcoin right now is we are in
uncertain territory. We're in kind of this discovery
territory. And I think that's a positive
for Bitcoin. I think it's gonna, it's going
to create more conviction, it's going to shake your beliefs and
it's going to ask you why you're here.
You know, do do you still believe in Bitcoin?
Do you still believe in the future appeal of Bitcoin?
Do you, do you still believe in the future performance of
Bitcoin? And when that gets exhausted,
when the Taurus leave, when the Taurus, you know, say, listen,
I've had enough of this. Bitcoin's time to shine is over.
The Ponzi truly is over. It's done.
It's, you know, pack it up, go home.
I'm going to be able to find quote UN quote more alpha in
different things. Only then is when we'll hit
bottom and only then is when Bitcoin will start to pick up
again. And only then is when we'll
start making all time highs when most people have lost the faith
because that's usually how the bear markets play out.
We have just forgotten that because again, we've been riding
a high for the last three years of Bitcoin's history.
And we had a generational run. We had an epic run.
We went from 16,000 to $126,000. That's an incredible return.
That's an incredible run. It's just guys, it this things
are changing, right? Things are changing.
And again, these are a lot of the coping and a lot of the
narratives that people are are using to justify as to why
Bitcoin isn't performing the way that it has.
So you know, 2026 is the year to learn fundamentals, to learn why
you're here, to learn about Bitcoin, the characteristics of
Bitcoin. And historically speaking, this
happens to be one of the best, most opportune, opportune times
to buy cheap Bitcoin. So take advantage of it.
Anyways, guys, we're going to be right back in just a bit.
We're going to have an incredible show, tons of stuff
to cover. We're going to be right back in
just a bit. Today's episode is brought to
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back. I do want to share the Clark
Moody dashboard. The time of at the time of
recording the Bitcoin price is $67,750.
Again almost 50% Drawdown from all time high Sats per dollar
1476 block height 937,115 Realized monetary inflation .83%
Market cap 1.35 trillion Bitcoin versus gold market cap 4.53%
Percentage issued 95.19%. In the grand scheme of things,
we are just getting the party started.
Alright everybody, let's move on to the next bit.
I do want to share this video. Let's talk about the Clarity
Act. So again, you guys know how I
personally feel about the Clarity Act.
I've been talking about it. It is a a big deal for the Trump
administration. We played you guys a clip of
Scott Besson on CNBC not too long ago talking about the
importance of passing the Clarity Act.
I think it was on the Friday show of last week.
And I told you guys, I said, listen, like he, they, you know,
Brian Armstrong and Coinbase don't want to pass it be a,
they, they don't want to support it because the big banks don't
want the Clarity Act. They, they're essentially
putting it in the clarity Act that exchanges aren't allowed to
give rewards for people leaving their deposits on the exchange,
which again acts like a, as a form of income.
I, I made the case that it's unfortunate that this is
happening because it's like here you have the crypto industry
kind of holding back the Bitcoin industry.
And I, and I said like, listen, like for better or for worse,
Coinbase is the largest player in the game.
And you know, they are the biggest and loudest lobbying
voice in DC, you know, for better or for worse.
So, you know, and unfortunately how these laws get signed into,
you know, how they get put into law is that a lot of these
things are included in one big giant package.
And, you know, things can stall because one thing in that giant
package, you know, it, it gets disagreed upon.
And that seems to be the case here.
So, you know, according to Polymarket, again, kind of a lot
of a lot of money on the line on Polymarket, the markets do
believe that it will get passed. They're giving it a 63% chance
at the moment. It's definitely gotten a lot
higher than where it was in January of 2020, January 22nd,
where the chance went all the way down to 39%.
So it seems like it's heading in the right direction.
Here is the CFTC chair and he's making the case that the market
structure bill is on the cusp of getting signed into law.
So I'm going to play you guys the clip and also he will be
speaking at the Bitcoin conference in Vegas.
You definitely want to get your your tickets today and again, if
you use promo code simply you will get a discount to Bitcoin
2026 in Vegas. So I'm going to anyways, I'm
going to play you guys this clip, then Opti and I are going
to talk about it. We're going to be right back in
just a. Bit thanks to the president's
leadership, we are on the cusp of getting clarity enacted into
law, the regulation by enforcement over the Genius Act
signed into law. And we've really turned a new
page and, and I would say the United States today is the
crypto capital of the world, but we need to make sure that it
stays that way. And, and the this Clarity Act is
really critical. The president has been clear
that we need to get something enacted into law because we want
to future proof our statutory framework for crypto.
We can't allow for Gary Gensler 2.0 to come in and tear it all
up. And so this legislation is, is
critical. It's all hands on deck and we're
making a push to get it done. There are some little wrinkles
around the point you mentioned on the yield front, which we we
thought some of this was settled with the Genius Act, but but
it's coming back to, to to the bear.
But we're going to get this thing across the line, and we're
going to make sure the United States is and remains the crypto
capital. All right, everybody.
So again, kind of political grandstanding and, and
positioning and, and obviously we know the Trump White House
wants to get it passed, but ultimately what it comes down to
is, is, is Coinbase going to be OK with the terms?
I, I think it is very uncompetitive of the big banks
to basically, you know, instead of competing, you know, with,
with the new innovators, I think it is very uncompetitive that
the big banks are, are trying to use the heavy hand of the state
in order to stifle innovation and competition for the benefit
of the consumer. So I do agree with Coinbase on
that front. But as a Bitcoiner, you know,
excuse my language, what the fuck do I care about any of
that, right? Like I care about one thing and
one thing only is if if the clarity Act includes and
protections for self custody, that's really what I care of as
a bitcoiner. And then Opti's dream is for
essentially, you know, no cap gains on Bitcoin, right?
And that's. That's not just my dream.
That's all Bitcoiners. Come on, that's.
Like really like what we fundamentally care about.
Like we don't really care about staking or defy or, you know,
interest on, you know, crypto deposits.
Like sorry guys, you're tuned into the wrong show.
If that's what you're trying to get, If that's to try to, if
that's to try to, if that's the type of news you're trying to
get out of today's show, you're tuned into the wrong show.
This is simply Bitcoin after all.
But I I care about the protections for self custody.
And there is supposed to be an exemption of some sort.
I don't think that's included in the current bill that
essentially would exempt a certain amount of Bitcoin so
that you could actually use Bitcoin as money without any tax
implications, right? You know, I know Jack Dorsey was
pushing hard for that. So eventually I would love no
cap gains at all on Bitcoin. So, but I don't think that's
included in the bill and I think we're far away from that.
But anywho, I want to get your take opti 'cause you you.
You did have some descriptions of the gentleman.
I'm not saying that and I'll, I'll say a little effeminate.
A guy's a little too effeminate for me.
I think I think he's great and I think he's he's a he's a he's a
vocal supporter of us, you know, within within, you know, within
government. And I did want to his quote is
interesting here. We want to future proof our
strategy framework for crypto. We can't allow for Gary Gensler
to come on, come in and tear it up.
We're going to get this across the line.
The thing is like what across the line?
And and another thing too is like in this is kind of like
what, sorry, Coinbase was talking about, Coinbase was
making the case basically like look like as the bill currently
stands, this is worse than the status quo, right?
So it's like, why are we going to pass a bill to pass a bill if
it's if the bill in itself and the law that gets that's in the
bill is more, is more disadvantageous to Bitcoiners
than no bill at all. So, yeah, I mean, we'll, we'll,
we'll have more coverage on this.
Ladies and gentlemen, as it, you know, as this develops again,
Polymarket currently gives it a 62% chance that it passes, a 63%
chance that it passes. So I would say that there is a
high likelihood the Trump administration again continues
to beat the battle drum on on this.
But they are, they are, you know, playing against the clock
because there's a lot, there's a extremely high likelihood that
the Republicans lose the House during the midterms.
And once they lose the House, the probability of any type of
pro Bitcoin legislation being passed is extremely low.
I think the first thing that they'll do when they win back
the House is impeach Trump. That's like the first thing that
they'll do when they when they get, when they get back power.
So I don't think they have any interest in any type of laws or
legislation that would make the Trump administration look good.
So anywho, let's move on to the next.
Wait, wait, I, I, I do want to add a little bit under this and
I'll do it quickly. I again, I've said this multiple
times, as much as I love the rhetoric, I'm not as bullish on
anything positive really being passed.
I do. I do love the sentiment.
I think making America the Bitcoin superpower of the world
is a great idea. Like I'm on board with the ideas
aspect. It's the execution that is
really lacking. And when I saw this clip,
personally, I'm like, this is cope.
I know I know they they're talking a good game and we have
seen some back and forth you know, we covered the initial
kind of debacle over the stable coin yields and then a couple of
days later Brian Armstrong came out and said, hey, you know,
we're actually having some meaningful conversation, some
compromise. Personally, it, it all just
feels like political rhetoric now.
One of the kind of interesting things that like Nico pointed
out, you know, if if as Bitcoiners we're waiting on the
clarity Act to pass to have some clear rules of the road or
regulations that are going to be beneficial for the Bitcoin
industry. It is a bit ironic that it is
all being stalled on 3% yield over stable coins when we all
know that the purchasing power of the dollar is going down 10%
a year. So like, but what, what are what
are we really talking about here?
It's like, OK, the supposed good regulation that's going to help
the industry is being stalled over 3% yield, but in reality,
we're all losing 10% of purchasing power anyway.
So even if you get the 3% yield, it's like you're still in the
hole. Like why?
Why is this the crux of the conversation?
And why is it stopping it? Obviously we know it's the big
banks, they're scared of losing money, but it's still like the
IT really it's like, come on, come on that and that's probably
me just being black pilled on the whole Bitcoin and politics
thing going on. Again, I do think it's a great
idea. I just it, it's the execution
that I'm not really excited about.
I'm not really bullish on anything positive coming out of
this. But again, I I am one of those
persons that thinks that most government laws that be that are
passed are usually less beneficial than than the
official rhetoric. So that's just like my given.
That's my starting point. Hence why I'm usually less
bullish on on stuff than Nico is when it comes out of politics.
But that that's my bit. All right, everybody, Well, we
still got a hell of a show lined up for you guys.
I want, I want Opti as my, as my political quant.
I I, I want to, I want to have my I don't know if you want
that. I want to I want to get signed
up to that group. That group is here.
The group is in the. Chat All right, everybody, well,
we're going to be right back in just a little bit and let's
check out the news. We got a bullish video.
We're going to end it up with some with some bull sauce.
Cause has been a little bit a little bit bleak, a little bit
bleak yeah, this show's bleak, a little bit bleak.
So we're going to end it up with some some bull sauce.
We're going to be right back in just a little a little bit.
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So I told you guys that we were going to end it with some some
some bullish sauce before we drop out today's show.
What are you laughing about? Familia Diaz of the Checkers,
Nico. Has such let his hands yeah
listen, you're. Against.
You're against. Free.
Wait, wait. Remember that, Nico?
That Nico was cool against
Bitcoin? You're against Dude, we lost
them. So today's bullish news, ladies
and gentlemen, is 270 billion two, $170 billion.
Financial advisor Rick Edelman just explain why Bitcoin is
going to half, $1,000,000 per coin.
The average investor doesn't own BTC.
There's $7.5 trillion waiting to buy.
Be prepared. So let's check out the clip.
I believe it's from Altcoin Daily.
Let's check it out. Here we go.
As a caveat, I want to remind everybody that this is not a
straight line. We're not going to go from
70,000 to 500. It's going to be very bumpy
along the way, as the past couple of months have
demonstrated. Nevertheless, I am optimistic
we'll get to 500,000 and here's why.
It's simple arithmetic. The the average investor in the
world does not yet own Bitcoin. I believe that as Bitcoin
continues to mature, as the crypto marketplace continues to
expand, both through government holdings, through sovereign
wealth funds and institutional holdings, endowments, pension
funds, hedge funds, insurance companies, banks, brokerages,
etcetera, we will continue to see greater adoption, greater
inflows into this asset class. If you look at the total value
of all the world's assets, the total value of stocks on a
global basis, all the bonds in the world, all the real estate
in the world, real estate is 3 times bigger than the stock
market. If you look at the value of
gold, look at the value of all the cash in the world, There's
$56 trillion of cash in all the different currencies all around
the world. Yeah, they're all up and it's
about 750 or about, yeah, about $750 trillion in total value of
all of this stuff. If you take the attitude,
Austin, that everybody who owns a diversified portfolio ends up
owning just 1% of their portfolio in Bitcoin, that's
inflows of seven and a half trillion dollars.
That plus the current value of Bitcoin translates to about
$500,000 per coin. It's really that simple.
So I mean, I like simple. Simple's good.
I like Big's number. What do you think about what he
said? Well, I, I, I mean, I tend to
agree. I've been saying for a while,
like, you know, I This is why I don't really believe in the
diminishing returns meme is because look, guys, we all know
this and yes, it's a heuristic. But when you go out and talk to
normal people, or if you do still talk to normal people,
even if you talk to your friends and family, the majority of the
people that we know, again, it's heuristic, it's not perfect, but
the majority of people that we know don't actually hold
Bitcoin. It almost seems rare still for
us to meet people that hold Bitcoin.
Yes, you start to see more people occasionally if you're
wearing like some Bitcoin merge, people will come up to you and
you're like, oh, look, there's more people holding Bitcoin.
We are going mainstream. Yes, the conversation around
Bitcoin has increased. We are in all of the headlines.
But in reality, most people have definitely heard about Bitcoin.
We're starting to see the media, you know, some of the on on the
street conversation. So like everyone is familiar
with the idea of what Bitcoin is now, but it's still very few
people hold Bitcoin. And when you look at total,
total wealth, you know, going a little bigger than what Rick
Edelman said, when you look at total wealth, total capital,
Bitcoin is still at like point, you know, it was .02 and we were
at 2 trillion. Now it's what, .013 or something
like that. It's like there's really not
that much capital in Bitcoin, which is always interesting when
you realize how much attention Bitcoin actually gets.
Bitcoin gets all of the attention for, you know, from
our perspective, for the right reasons and from the people that
don't like Bitcoin for what I would argue the wrong reason is,
is what we always say they're they're totally afraid of
Bitcoin because if most people use Bitcoin, then the financial
world, the traditional financial system that we're familiar with
it, it's going to fundamentally change.
And then of course, those people in power obviously going to lose
power because money is power. And so I totally agree with
this. Like we are seeing the start of
Wall Street, of the institutions of the world start to dip their
toe in Bitcoin. And yes, it hasn't been as good
as we thought it was going to be.
It hasn't even really been that much capital.
And we've seen when they when they actually buy Bitcoin in
bulk, we've seen what it does for the market.
You know, Bitcoin has basically gone sideways, but when there
was a a huge amount of of buying in what was basically a
contraction year, Bitcoin still hit all time high and it really
didn't have that much inflow. It really didn't have that much
liquidity pushing it up to where it is.
Like it really didn't have that much interest.
Like we didn't have the shoeshine boy metaphorically
talking about Bitcoin. You weren't getting the Ubers
and they're, you know, talking about Bitcoin.
I think most people got wrecked in shit coins in 2021 and
they're not back in the Bitcoin markets at all.
And so I, I totally agree that once we see a, you know, even if
it's 1%, like he was doing the math for, if we see 1% of total
capital going to Bitcoin, like we, we really don't realize how
much capital is in the world and how little capital it actually
takes to pump Bitcoin. And yes, we're starting to see
that probably the whole idea of the regulatory clarity is, is
definitely holding back a lot of these big institutional
investors or, or investors with capital.
And maybe they bought and you know, to them it, it's not that
much, but to us, you know, they're buying 10s of millions
of dollars of Bitcoin. But compared to some of these
asset managers total capital, it's like literally a rounding
error. It, it's just like that's just
throw a little bit in there just in case, you know, basically
throw our pennies in there just in case this thing catches on.
But once we start to get a fervor, once we do see the FOMO
come back, once we do see the price of Bitcoin go up again and
people are, you know, caught up in the greed and they want to
buy Bitcoin again, 'cause look, I've said it before, I'll say it
all the time. You guys hate it because, you
know, one Bitcoin equals one Bitcoin, but people chase the
price of Bitcoin. When the price goes up, that's
when people get excited. That's when people get greedy,
that's when people come back into Bitcoin.
The price of Bitcoin is the best thing for the adoption of
Bitcoin. Look, don't shoot the messenger.
That's just how it works. When the price goes up, more
people want to invest in it. A lot of bitcoiners have called
it a beblin good that the more expensive it gets, it doesn't
actually push people away from it.
It actually attracts people to it.
And so I, I totally agree with the math of this.
It's like if 1% of total capital.
Well, he used, he didn't use total capital, he used equities
around 750 million, you know, $7 trillion or sorry, 750 trillion,
1% of that $7 trillion gets in the Bitcoin.
It's like that's going to take Bitcoin to the stratosphere and
it's not going to necessarily pull back if people are with
conviction holding Bitcoin. So like I, I think the math, the
math is very simple. It is simple math.
It's just really what we are seeing.
And it really reminds me of what Lynn Alden said in the beginning
of the show, that what we've seen so far is that either one,
people don't care about a sovereign store of wealth or
two, they just don't understand what this idea is.
And This is why this is such a good opportunity for us.
And me and Nico have been talking about this for a while
is like with the institutions coming in a lot of this inflow
into the ETS, it does seem like self custody did kind of get put
into the corner and people, or rather maybe the the more
extreme scarier idea. Yeah, Yeah, exactly.
But the more scarier idea. Colombian Hitman.
Bro the the worst idea here is maybe just most people don't
care about it and that's where it really is.
Like OK, maybe if you take this to the logical conclusion
conclusion, it's not that Bitcoin fails per SE because
it's a bad idea. It fails on apathy that people
are either just so doomed like you so black pilled just don't
care about self sovereignty, don't care about freedom and
sovereignty in general. They're just like, whatever
dude, there's no escaping this, why should I even try?
It's the apathy. It seems like people just don't
care about this thing. They don't care about self
custody. They don't care about hard
capped and scarcity. And maybe it is an education
thing, maybe this is a human nature thing, who knows.
But I would argue that that's what we're seeing right now is
most people just don't care. And that's why we're seeing the
price of Bitcoin go where it is, which is in the dumps.
But I think once the price does come back, I mean, Nikka, what?
It's been four years, five years now since we've seen some price
action. So I don't really blame most
people for not getting into Bitcoin.
I know when I got in the Bitcoin, Bitcoin was rallying.
And then after the fact, as the meme goes, you know, you come
for Bitcoin for the money, but you stay for the revolution.
I didn't know anything about Bitcoin.
I didn't know anything about the sovereignty scarcity aspects of
Bitcoin until after I got into the market.
And I had to really try to understand what this Bitcoin
thing is because it did seem like a phenomenon.
It did seem like this world paradigm changing movement.
And then you're like, oh, now you know, I, I can pivot.
And it's like the, you know, the classic meme of with the gold
chains, like I'm in it for the I'm in it for the tech bro, but
in reality, you're here for the games.
And so until we see the price start running again and we see
people start following into Bitcoin again, you know, we can
cope all we want about, oh, this is the real reason for Bitcoin,
you know, sovereignty, privacy, censorship, resistance, all that
stuff that we love. But as we've seen, the masses
don't care about that. Or maybe they're just not
educated. Now, maybe we've all turned our
brains off. Maybe not Bitcoiners, but the
majority of people have turned their brains off.
And so, like, I, I, I agree with the sentiment that, yeah, once a
small portion of global capital comes into Bitcoin, the math is
simple. And Bitcoins going up.
The flip side of that coin is like, do people care?
Is it human nature for us to not really care about this stuff?
Maybe it is too complicated for most people.
Maybe we are overestimating people's intelligences here.
Maybe we are the smart ones in the room, which is really
probably the biggest black pill out of everything.
If we're the smart ones here, dude, we're cooked like it's
over for, for humanity forever. So I, I still have some hope
that I think people will wake up to this because we, you know,
maybe this is our incentive. Maybe this is my coat because
this is our business that we, we're here to try to get more
people into Bitcoin. But it, it is one of those
things where like, yeah, the math is simple.
A little bit of capital from global markets getting into
Bitcoin, at least in a percentage term, will drive
Bitcoin to crazy astronomical numbers.
But we've been doing this for so long and it hasn't happened yet.
And that makes you feel like, well, it ever happened.
So maybe it is just bear market things.
Anyway, it's bullish. Bullish in general. 100% bear
market things and but enjoy it guys.
Enjoy these moments because this is when the tourists leave.
These are the most opportune moments for you to buy.
Like look, I'll put it to you this way.
Have we reached full capitulation yet?
I don't think so, but these moments is the equipment of like
buying Bitcoin at 2022 K AT30K in the previous cycle.
It's the same vibe, same feeling.
People are exhausted, people are tired.
Last cycle was like, Oh my God, Bitcoin didn't hit 100,000, it
only hit 69,000. And that same feeling comes up
and it's when people aren't paying attention.
It's when people are doubting Bitcoin.
It's when people are saying, Oh my God, it's the FUD.
Oh my God, it hasn't outperformed like gold has.
It hasn't performed like, you know, all these other assets.
It hasn't performed like my expectations.
It's these precise moments where people leave, the tourists
leave, people don't see opportunity in Bitcoin again.
I mean, you, you heard it from from Willie Wu in the in the
very beginning of of the show. I can find alpha somewhere else,
right? These are the moments when
everyone thinks Bitcoin is out for the count, when everyone
thinks that it's it's over for Bitcoin, the best gains are
behind it. Those are the times historically
when it's the best time to dollar cost average.
Because when it rips, it rips from this, from this base.
You don't want to, you don't want to pile into Bitcoin again
2-3 years from now when the when the when the price is at two
$300,000 per coin, right? Because then when it corrects
again, it's going to go back to 100 1000.
You'd be like, Oh my God, about the top you have to buy in these
in, in these exact moments. These are the most opportune
moments to get into Bitcoin in my opinion.
And, and what do I know? I've just, you know, I've been
doing this for, you know, just a little bit.
Anyways, I do want to give a shout out to, of course, one of
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Some part of the simply Bitcoin crew is going to be there.
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guys at the Las Vegas conference.
All right, everybody, I do want to thank everybody for tuning
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It is going to be, it is, it is going to be a little bit brutal.
Yeah, someone said. We we're probably going to get,
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Let's see. Honestly, it might be true.
Let's see help us get through the bear market and again, if
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