Michael Saylor just did what nobody thought was possible,
break the barrier and get Wall Street's blessing for Bitcoin.
For the first time ever, a major credit rating agency just rated
a Bitcoin treasury company in strategy.
In doing so, it unlocks a monsoon of capital from pension
sovereigns, countries who can now buy Bitcoin through
traditional means and capital flows.
And on the same day we see Larry Fink talking about Bitcoin in
roundtables with the wealthiest people in the world, important
political figures like Eric Trump are also backing it.
And this came from the efforts of one man telling people to
sell their livers and kidneys to buy Bitcoin.
We were staying. At the patio in Mar a Lago,
Michael and I and we were kind of geeking outgoing down this
this rabbit hole. And he goes, Eric, you know, you
need to take this property and Mar a Lago has no debt on it.
You need to take this property, you need to mortgage it right
now and you need to go out and buy Bitcoin.
By the way, he was dead serious, right?
He's the guy that goes out and says, you know, you know, sell
your liver and kidney and buy Bitcoin.
And by the way, he's probably also.
Because of the work of people like Michael Saylor, Bitcoin is
no longer in outsider asset. It's an asset for the insiders.
It's becoming the foundation of global credit.
This is the beginning of the financial flipping.
In 20 years, we won't recognize the system that we are living in
today. Bitcoin is going to become the
monetary standard of the world over the next two decades, and
my grandkids will transact in SAT's, not dollars.
The dollar will be gone. Bitcoin is the Somali pirate of
the financial system. Look at me.
Sure. Look at me, sure.
I'm the captain now. Bitcoin is the captain now, and
Wall Street is finally realizing what's going on.
It is becoming the collateral for the next monetary system.
We've got a lot to cover today. This is Dante Cook with Bitcoin.
Simply, let's go SP Global assigned MicroStrategy.
My bad strategy AB minus credit rating marking the first time in
history that a Bitcoin treasury company is rated by a Wall
Street agency. Sounds boring, but it's not.
It's the equivalent of discovering financial fire.
This now makes Bitcoin a mainstream asset in the eyes of
not just people like BlackRock and institutions, but creditors
all across the globe. The most interesting remarks
from the credit analysts when reading the report of the credit
rating, the B minus credit rating that they gave to
strategy, is that when they're actually looking at its credit
rating, they're deducting the value of their Bitcoin assets.
They're saying the company has negative total adjusted capital,
which makes no sense considering they have over $70 billion worth
of Bitcoin on their balance sheet with over a 50% profit.
Nonetheless, this is a massive milestone.
And why is this such a big deal? Well, we can hear about it from
MicroStrategy CEO Fong Lee himself in a conversation that
he had with Natalie Brunel a few months ago.
Are these instruments going to get rated by the credit rating
agencies and is that important? It is important because there
are, there are large pools of institutional capital, insurance
funds, pension funds, etcetera, who are required to invest in
their, their bigger pools of capital into rated securities,
right? And so they, they, they can take
a small pool capital like 5% and put it into underrated security
and accounts against them in some ways their balance sheet,
but they're big pool is capital required rating.
They for the most part, would love to have the types of
returns that are fixed income securities provide, but to do
so, they need to investment rated security, some cases
investment grade, some cases junk, some cases in between,
right. And so we're working through a
process with with a big agencies to get rated.
I think the agencies are interested in it.
You know, they move a little slow, they move a little slow
and they don't know what to compare it to, but they're doing
their work. They're smart folks at these
agencies who are going through the process and doing the work.
And and I think you know, step one is to get a rating and Step
2 at some future point in time is to improve that rating by
proving one, how Bitcoin can be very good collateral and two,
showing our instruments over time performing and paying out
right. And so we're like what we did in
2020 would Bitcoin on a balance sheet of a public company.
We're doing that now really this year, a Bitcoin and preferred
instruments and getting them rated.
Step one, check they got a credit rating.
Step 2, prove that Bitcoin is pristine collateral and Step 3,
now MicroStrategy has to step up and perform.
They have to make do and pay out on their preferred credit
instruments that they put on into the market over the past
several months. They're paving the way for a
whole new path for institutions to adopt Bitcoin just like they
did in 2020. And because of that, ripple
effects have gone across the globe.
So much so that people like Larry Fink are now talking about
Bitcoin in the roundtables of the wealthiest people in the
world here. If you, if you believe that
countries are going to continue to debase their currency, If you
believe that there's going to be global rise of insecurity,
owning crypto assets or gold are assets of fear.
You own these assets because you're frightened of the
debasement of your, your assets. You're, you're worried about
your financial security, you're worried about your physical
security. And, and, and between crypto
assets and gold they're put in, they believe, you know, there's
a strong belief that is a good hedge against optimism.
The same man who called Bitcoin a scam is not pitching it to
heads of state. When Fink blesses Bitcoin and
crypto at large, it's regulation ready.
And just like Larry Fink, Wall Street went from mocking Bitcoin
to monetizing it. First they laugh at you, then
they copy you. But here's the interesting thing
that he said. If you believe that countries
will continue to debase their currency, then gold and crypto
are a good investment. They're a hedge against
optimism. We're clearly central banks
across the globe are betting that countries will continue to
debase their dollar, so much so that gold holdings from central
bankers are about to cross their dollar reserve holdings.
SP Global said that Bitcoin is a material weakness on strategies
balance sheet, but that's actually dollars.
Dollars are the weakness and the wealthiest people in the world
understand this. And Eric Trump gives us a
preview into exactly what they're thinking and how the
tide is shifted from Bitcoin being a risk asset to an asset
that the insiders just buy. Insiders like sovereign wealth
funds and nations. Why should government be buying
Bitcoin? Because it's the single greatest
performing asset over the last decade, increasing in value 70%
a year, year over year, every year, like Germany a couple
years ago. There's a great article, you'd
probably, you might know the exact numbers, but Germany had
like 30,000 Bitcoin or something along those lines.
And they, they sold it right away.
They monetized it into, you know, their currency and, and it
was like the worst investment ever made by a government.
And, and by the way, that's a pretty damn low bar, as you
know, right? The government should definitely
have have certain crypto assets on their, on their balance
sheet, mainly, mainly Bitcoin and actually the United States
government does, right. You have a lot of forfeitures
and, and, and they've taken a, a great stance saying that we're
not selling any of it. You have a lot of countries
around the world that are actively buying.
If you go to, you know, the UAE, if you, if you go to a lot of
countries, they are actively putting that in their
treasuries. And you look at the Fortune 500
companies, they are actively hoarding Bitcoin.
The biggest families, the biggest companies, you know,
countries, sovereign wealth funds and individuals are all
hoarding Bitcoin, right? It's, it's why it's been as
explosive as it is. And it's funny, people are like,
oh, well, Bitcoins down by 3% now.
It's like this time last year Bitcoin was at like 55,000 or
60,000 roughly. It's had unbelievable explosive
growth. Germany selling Bitcoin was a
single worst decision that a country's probably ever made.
Their position of 50,000 Bitcoin that they sold around 60K per
Bitcoin, well, it's cost them about 3 1/2 billion dollars.
And like the German government, people that continue to play old
games, well, they get old prizes.
The strategies of the world are going to be the new leaders.
Listen to Andrew Hahn speak about the fact that the SP 500
is going to look completely different in 20-30 years than it
does today, and it's going to to be led by the companies that
adopted Bitcoin strategy now. I think that we're going to see
a big rotation in terms of the the, the household names of
corporate finance over the course of the next probably 15
to 30 years. And the only companies in the
S&P 500 that will stay in the S&P 530 years from now are going
to be those companies which over the course of the next 5 to 10
years add Bitcoin to their balance sheet and embrace
digital capital. The ones that fail to make this
transition are going to fall out of the echelon where they've
become very accustomed. The ones that do make the
transition will be able to take advantage of all of their market
position, their manufacturing facilities, their product
offerings, their research and development and grow them
stronger. And many new companies will
enter into those ranks, and they'll become tomorrow's
household names. More capital, more companies,
more countries are flowing into Bitcoin, which is de risking the
asset at large. And it's also assigning a
premium to the companies in countries and people that have
gotten in first and have started to accumulate major positions.
And that's going to make it pristine collateral, an asset
that's held by more and more people when the volatility
decreases and it's not sold as often.
Russell Okung has a great perspective on this.
He tweeted the other day there's never been a better time to be a
banker because when they write loans against Bitcoin or against
Bitcoin as the collateral, you can write longer loans and watch
the risk shrink. You don't need a central bank to
set the rates of what you will apply to the loan itself.
And it's because the asset itself, Bitcoin, ensures the
credit. Bitcoin is restoring honest
banking and it's restoring a free market capitalistic system
that isn't based upon trust me bro.
And that's exactly why we have backed Lenin, who's been the
leaders in this revolution in terms of Bitcoin.
Since 2018. They've issued over $9 billion
worth of loans to 10s of thousands of customers all
across the globe. And they just published their
proof of reserves. It's their 10th and it just
dropped the longest running for any digital lender.
They have over $836 million worth of loans with an you get a
42.68 loan to value and it's 100% collateralized, meaning
that your Bitcoin is where they say it is and it's actually
healthier than the 50% loan to value, which means if you want a
$1000 Fiat loan, which gets into your account in less than six
hours, well, you post $2000 of Bitcoin collateral.
There's no credit checks and the process takes just a few minutes
go to learn dot letting dot AO slash simply to get started with
the most pristine collateral that even Wall Street is
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Sometimes we don't give people their flowers until they're
gone. And although I don't own any
Bitcoin, treasury company stocks or shares, I have to give credit
for Michael Saylor for single handedly educating and blazing a
trail where no one else would go.
What he's done has been nothing short of extraordinary.
I do believe that he will go down as one of the greats in
corporate history. I mean, Michael Saylor has been
an incredible force over the course of the last five years.
And I think that his work at MicroStrategy now strategy will
be right up there with the the greats of corporate history, you
know, John Rockefeller and Du Pont and Steve Jobs.
I mean, he's going to be right up there.
When I listen to this clip from Jack, I think about the ripple
effects that the impact that people like him and Michael
Saylor are having on the world. What a single person can do to
spread the message of hope to people through their media
channels, through their influence, and help people to
understand that there is a better way for us to store our
time in our energy and a better reason and purpose for why we
should do that. Do you understand the concept of
time and energy and contributions to society Then a
fancy car isn't ever worth the Bitcoin that I've worked to
acquire. And so I only trade in exchange
my Bitcoin for experiences for people I love, to be honest.
I mean, how? How beautiful is it?
How beautiful of an idea, I guess is it that, you know, we
can make the world a better place for the people that we
care about the most? And so Bitcoin taught me that.
It really lowered my time preference and taught me the
value of things. I think it's it's really
impossible to value things if there's an infinite amount of
dollars. I like to draw this similarity
to the promise of death. This is going to get potentially
a little weird or dark, but you know, it's the promise of we
invite. That I invite that.
It's, it's the promise of death that allows us to value our
life. If I was never going to die and
I knew that then I'd go to the gym in 1000 years, I'd think to
get married in 10,000 years. I would never care to value
today. And that's very similar to the
dollar. If there's infinite amounts of
dollars and we're going to roll this debt over forever, then how
do I value my paycheck right now?
And so I think what death means to life, Bitcoin means to money
and to value. So Bitcoin gave me that finite
promise that allows me to value the time and energy that I spent
right now. And it's not worth expending A
tremendous amount of my time and energy on a yellow car that goes
really fast. In the same way that knowing
that I'm going to die, it's, it's not, it's not worth ever
wasting a day, a week, a year. We have to understand that the
reason that we want to preserve our energy is that we're all
humans, we're fragile and we could die any day at any moment.
And it's 100% guarantee that we will die.
It's a mathematical certainty like bitcoins code.
And so the message is like Michael Saylor, get up and do
something. Be productive with your life.
Go build something. Go be part of something in the
future. Make your days count.
Let's live our lives in light of a bigger mission and a bigger
purpose. And that's what I want to call
you to do today in light of this monumental announcement from
Michael Saylor and strategy becoming the first credit rated
Bitcoin treasury company. It's a testament to the impact
that a single person can have on an entire industry in the world.
Go make your mark on the world. Leave in a better place than you
found it because you will die one day.
What are you storing your time and your energy and your wealth
into? Is it going to preserve it or is
it going to waste it? Don't waste your time, your
energy or your capital. This is down to cook with
Bitcoin simply and if you haven't already bought your
tickets down to the Bitcoin mining Expo of the year
happening in Dallas, TX from November 11th through November
13th will do so and use the promo code simply Bitcoin for
20% off your tickets. This is Dante Coke with Bitcoin.
Simply happy stacking and go make today count route.