1 00:00:00,120 --> 00:00:04,080 Legendary short investor Jim Chanos is calling Michael Saylor 2 00:00:04,080 --> 00:00:07,120 a salesman and initiating a short trade against micro 3 00:00:07,120 --> 00:00:08,400 strategy. Michael Saylor. 4 00:00:08,400 --> 00:00:10,680 Is is a wonderful salesman, but that's. 5 00:00:10,680 --> 00:00:13,520 What he is, he's a. Salesman and what he's selling 6 00:00:13,520 --> 00:00:15,600 investors is the concept that you. 7 00:00:15,600 --> 00:00:17,680 Give me your money. And I'm just going to go. 8 00:00:17,680 --> 00:00:21,000 Buy Bitcoin and hopefully the value of my stock trades at a. 9 00:00:21,000 --> 00:00:22,880 Premium to the. Value of that. 10 00:00:22,880 --> 00:00:25,200 Bitcoin and so as long as I can keep. 11 00:00:25,200 --> 00:00:30,080 Doing that I generate value. Jim, here's my question, and 12 00:00:30,080 --> 00:00:32,520 this is true for any other major investor right now. 13 00:00:32,840 --> 00:00:36,040 Where else would you invest your money or other people's money 14 00:00:36,040 --> 00:00:37,960 right now? The dollar is on track for its 15 00:00:37,960 --> 00:00:41,160 worst performance in three decades. the United States 16 00:00:41,160 --> 00:00:45,080 public debt to GDP looks like a developing nation, and the stock 17 00:00:45,080 --> 00:00:48,440 market is at its highest valuation measured against GDP 18 00:00:48,600 --> 00:00:50,680 of all time. You remember that movie 19 00:00:50,680 --> 00:00:52,880 Everything Everywhere All at Once? 20 00:00:52,960 --> 00:00:56,840 Well, Everything, Everyone, Everywhere all at Once is 21 00:00:56,840 --> 00:00:58,520 beginning to converge onto Bitcoin. 22 00:00:58,720 --> 00:01:00,920 There are no value trades left out there. 23 00:01:01,040 --> 00:01:04,040 It's the universal value investment for corporations, 24 00:01:04,200 --> 00:01:07,200 billionaires and regular people like you and me. 25 00:01:07,360 --> 00:01:10,480 Oh, and even crypto Bros like Charles Hoskinson. 26 00:01:10,640 --> 00:01:13,120 There's some data showing that the dollar is collapsing. 27 00:01:13,120 --> 00:01:14,440 What do you want to own right now? 28 00:01:15,160 --> 00:01:17,720 This is Dante Cook with Bitcoin. Simply, let's go. 29 00:01:24,730 --> 00:01:27,210 I run into crypto people that have been the business for a 30 00:01:27,210 --> 00:01:30,450 decade and they have very complicated ideas that don't 31 00:01:30,450 --> 00:01:31,770 work. Yes. 32 00:01:32,360 --> 00:01:35,160 And and Ioffer them a simple idea. 33 00:01:35,160 --> 00:01:38,600 I'm like, here's an idea. You're a public company, sell 34 00:01:38,600 --> 00:01:41,440 your equity, buy the Bitcoin. They're like, no, that'll never 35 00:01:41,440 --> 00:01:43,560 work. OK, well, I guess it might work. 36 00:01:43,800 --> 00:01:45,400 Well, what if the Bitcoin goes down? 37 00:01:45,600 --> 00:01:48,160 Well, blah, blah, blah. OK, I guess it worked, you know, 38 00:01:48,200 --> 00:01:50,400 and you know what the latest pushback is, Jeff? 39 00:01:51,040 --> 00:01:56,120 The latest pushback is, well, it worked for you and it worked so 40 00:01:56,120 --> 00:01:59,160 well that you're the winner. And there's no room for another 41 00:01:59,160 --> 00:02:02,920 company to do it in the market. So we literally went from I 42 00:02:02,920 --> 00:02:06,920 don't think it'll work at all to it might to it did. 43 00:02:06,920 --> 00:02:10,039 Oh, it worked too well. That's my excuse for why I'm not 44 00:02:10,039 --> 00:02:13,000 going to do it. And people just come up with 45 00:02:13,000 --> 00:02:16,360 these giga brain excuses for why they won't. 46 00:02:16,360 --> 00:02:18,600 Don't want to do the simplest thing in the world? 47 00:02:18,600 --> 00:02:21,360 And one of the most shocking and insane pieces of news that I've 48 00:02:21,360 --> 00:02:23,280 seen. Crypto Bros have completely 49 00:02:23,280 --> 00:02:26,000 given up and have started waving the white flag of their 50 00:02:26,000 --> 00:02:28,200 worthless tokens and moving to Bitcoin. 51 00:02:28,280 --> 00:02:31,760 Charles Hoskinson, the founder of Cardano, says that he's going 52 00:02:31,760 --> 00:02:35,040 to sell some of his tokens in order to build a stable coin and 53 00:02:35,040 --> 00:02:38,200 Bitcoin treasury. I do believe that it will not 54 00:02:38,200 --> 00:02:41,560 materially impact Cardano by doing a conversion of five to 55 00:02:41,560 --> 00:02:45,760 10% of the treasury into stable assets and assets like Bitcoin. 56 00:02:45,760 --> 00:02:49,360 And in doing this, we can create a yield and that yield on an 57 00:02:49,360 --> 00:02:52,800 annual basis can be used to purchase ADA and overtime 58 00:02:52,800 --> 00:02:55,600 replenish the treasury. And if this program is 59 00:02:55,600 --> 00:02:58,840 successful, then we can actually continue that strategy on an 60 00:02:58,840 --> 00:03:01,520 annualized basis and over a period of five to 10 years 61 00:03:01,520 --> 00:03:05,000 potentially grow to a billion dollar plus stable coin treasury 62 00:03:05,000 --> 00:03:08,800 and Bitcoin treasury to augment and enhance the ADA value in the 63 00:03:08,800 --> 00:03:12,400 treasury that we have. This sets us up for great 64 00:03:12,400 --> 00:03:16,760 returns and for a pretty stable floor for the ecosystem as a 65 00:03:16,760 --> 00:03:19,200 whole, like you would want in any good sovereign wealth. 66 00:03:19,200 --> 00:03:21,880 Fund, the crypto founder, is realizing, like most crypto 67 00:03:21,880 --> 00:03:24,960 founders, that he is operating a zombie company, sort of like 68 00:03:24,960 --> 00:03:27,920 Michael Saylor in 2020. But if you saw that there was 69 00:03:27,920 --> 00:03:30,920 the best performing asset in the world 11 out of the last 14 70 00:03:30,920 --> 00:03:35,240 years that could also become the medium of exchange and that very 71 00:03:35,240 --> 00:03:38,320 few people own right now, wouldn't you want to buy it as 72 00:03:38,320 --> 00:03:40,160 well? This is what got Michael Saylor 73 00:03:40,160 --> 00:03:43,280 to flip from saying that Bitcoins days are numbered. 74 00:03:43,320 --> 00:03:45,960 It seems like just a matter of time before it suffers the same 75 00:03:45,960 --> 00:03:50,120 fate as online gambling. He said that back in 2013 and 12 76 00:03:50,120 --> 00:03:53,040 years later, he's replying to Adam Back, one of the people 77 00:03:53,040 --> 00:03:55,840 mentioned in the original Bitcoin white paper, saying that 78 00:03:55,960 --> 00:03:59,040 Bitcoin is the new hurdle rate. Saylor became so bullish and so 79 00:03:59,040 --> 00:04:02,120 outspoken that he was even getting calls from athletes like 80 00:04:02,120 --> 00:04:05,280 Say Kwan of My Eagles and on Brand. 81 00:04:05,480 --> 00:04:08,400 He told him not to just put his endorsement money, which he did, 82 00:04:08,400 --> 00:04:11,840 into Bitcoin in 2021. He told him to put all of his 83 00:04:11,840 --> 00:04:15,280 money into Bitcoin in 2021. For me, I felt like it was the 84 00:04:15,280 --> 00:04:20,600 right time to get involved, me and my, my manager cuz and 85 00:04:20,680 --> 00:04:23,440 having conversation with, you know, with Pomp and and Jack. 86 00:04:23,760 --> 00:04:25,840 I felt like that was a perfect time to do it. 87 00:04:25,840 --> 00:04:28,840 And I was able to get on a phone call with Michael Saylor. 88 00:04:29,360 --> 00:04:33,280 And, you know, back then he told me that I should take all my 89 00:04:33,320 --> 00:04:37,200 money and put it in. I think he's doing pretty well. 90 00:04:37,200 --> 00:04:39,880 I probably should listen to him. MicroStrategy has gone from a 91 00:04:39,880 --> 00:04:44,640 $500 million company to $105 billion company, yet people 92 00:04:44,640 --> 00:04:46,600 still think that Bitcoin is going to crash. 93 00:04:46,760 --> 00:04:48,720 People still think that it's a bad strategy. 94 00:04:48,720 --> 00:04:51,440 But Michael Saylor believes that it's just the opposite, that the 95 00:04:51,440 --> 00:04:54,560 bear markets are over and right now is the best risk adjusted 96 00:04:54,560 --> 00:04:57,240 time to buy Bitcoin that you possibly can. 97 00:04:57,320 --> 00:05:02,800 How do you expect the asset to continue a price increase at 98 00:05:02,800 --> 00:05:06,000 these levels that we've seen? I mean, can it keep that up over 99 00:05:06,000 --> 00:05:08,720 the next five years, over the next 10 years? 100 00:05:08,960 --> 00:05:12,800 And at what point do we see, you know, winter coming again, 101 00:05:12,800 --> 00:05:18,680 because that's been a a permanent fixture of of this 102 00:05:18,920 --> 00:05:23,960 asset class, right? It's gone from 0 or 1000 to 20 103 00:05:23,960 --> 00:05:27,760 and then back down to three or four and then up to 50 and then 104 00:05:27,760 --> 00:05:29,920 back down to 15 and now up to 110. 105 00:05:29,920 --> 00:05:35,400 Like when does it drop again? Winners not coming back, we're 106 00:05:35,400 --> 00:05:37,600 past that. We're past that phase. 107 00:05:37,600 --> 00:05:41,920 If bitcoins not going to 0, it's going to $1,000,000 and you have 108 00:05:41,920 --> 00:05:44,440 all the evidence you need to determine that, right? 109 00:05:44,440 --> 00:05:46,840 The president of the United States has determined he 110 00:05:46,840 --> 00:05:49,800 supports Bitcoin. The cabinet supports Bitcoin. 111 00:05:49,920 --> 00:05:54,480 Scott Pesson supports Bitcoin. Paul Atkins has shown himself to 112 00:05:54,480 --> 00:05:57,880 be an enthusiastic believer of Bitcoin and digital assets. 113 00:05:58,640 --> 00:06:03,920 Kentaaz at CFTC feels the same. Ray, the the banks are going to 114 00:06:03,920 --> 00:06:08,200 custody Bitcoin. Bitcoin is has gotten through 115 00:06:08,200 --> 00:06:11,040 its riskiest period. The accounting has been 116 00:06:11,040 --> 00:06:14,200 corrected. There's now only 450 Bitcoin a 117 00:06:14,200 --> 00:06:16,720 day available for Sale by natural sellers. 118 00:06:16,720 --> 00:06:19,840 That's the miners. At this level, that works out to 119 00:06:19,840 --> 00:06:23,720 about $50 million of Bitcoin available for sale every day. 120 00:06:23,720 --> 00:06:27,600 If that $50 million is bought, then the price has got to move 121 00:06:27,600 --> 00:06:31,720 up to find any natural, any any seller that's price sensitive. 122 00:06:32,200 --> 00:06:35,200 Now, if you do the math, you'll actually see the Bitcoin 123 00:06:35,200 --> 00:06:38,760 treasury companies by themselves are buying the entire natural 124 00:06:38,760 --> 00:06:41,680 supply. BlackRock and the ETFs are 125 00:06:41,680 --> 00:06:46,800 buying another measure of that. And we've got nation state 126 00:06:46,800 --> 00:06:52,160 actors coming into the space. So I think when Bitcoin rallies, 127 00:06:52,160 --> 00:06:56,480 if it surges to 500,000 or $1,000,000, then maybe we could 128 00:06:56,480 --> 00:07:00,360 talk about it crashing down by a $200,000 a coin. 129 00:07:00,640 --> 00:07:04,720 But at the current price levels, it only takes $50,000,000 to 130 00:07:04,720 --> 00:07:07,920 turn the entire drive shaft of the crypto economy. 131 00:07:07,920 --> 00:07:11,480 One turn and you've got the Trump Media Organization 132 00:07:11,480 --> 00:07:14,840 announcing 2 1/2 billion. You've got GameStop announcing 133 00:07:14,840 --> 00:07:17,520 500 million. You've got my company that's 134 00:07:17,520 --> 00:07:20,120 raising billions and billions of dollars. 135 00:07:20,120 --> 00:07:22,480 So the writing is on the wall. Bitcoin's moving. 136 00:07:22,480 --> 00:07:24,080 Higher. As I mentioned before, the 137 00:07:24,080 --> 00:07:27,360 dollar's on track for its worst performance in 30 years. the US 138 00:07:27,360 --> 00:07:29,960 dollar is showing signs of collapse following its typical 139 00:07:29,960 --> 00:07:33,760 10 year historical cycles. And our stocks and our debt as 140 00:07:33,760 --> 00:07:37,440 measured in GDP well, the charts don't look good right now. 141 00:07:37,520 --> 00:07:41,000 Tavi Costa is showing us that equity values are rising much 142 00:07:41,000 --> 00:07:44,080 faster than our actual growth. And what's interesting to see is 143 00:07:44,080 --> 00:07:46,360 that the dollar is collapsing while the 10 year yields are 144 00:07:46,360 --> 00:07:48,440 also rising. The decoupling. 145 00:07:48,680 --> 00:07:51,320 And This is why legendary investors like Paul Tudor Jones 146 00:07:51,360 --> 00:07:54,400 pulled the siren this week, saying that policy makers are in 147 00:07:54,400 --> 00:07:57,800 between a rock and a hard place and that the typical portfolio 148 00:07:57,800 --> 00:08:01,120 that you should own should have stocks, gold and Bitcoin in 149 00:08:01,120 --> 00:08:03,280 order to outpace the high inflation that we're going to 150 00:08:03,280 --> 00:08:05,640 see. Like the 1950s, investors are 151 00:08:05,640 --> 00:08:09,360 waking up to the reality that Bitcoin is not just going to be 152 00:08:09,360 --> 00:08:12,640 the best performing store of value, but it can also be a 153 00:08:12,640 --> 00:08:15,040 medium of exchange and more moving forward. 154 00:08:15,320 --> 00:08:18,880 And so if you think about today, the average finance user, they 155 00:08:18,880 --> 00:08:21,720 have a savings account, they have a checking account and they 156 00:08:21,720 --> 00:08:23,640 have a brokerage account. That's what we're basically 157 00:08:23,640 --> 00:08:25,000 seeing recreate in the digital world. 158 00:08:25,000 --> 00:08:27,720 You're saving in Bitcoin, you're spending in stable coins and 159 00:08:27,720 --> 00:08:30,240 then you are going and you're speculating on whatever assets 160 00:08:30,240 --> 00:08:32,880 you want your portfolio. What I think the big question 161 00:08:32,880 --> 00:08:34,760 becomes, and I don't have the answer, I don't think anyone 162 00:08:34,760 --> 00:08:38,039 does yet, is as we continue to see the destruction of the 163 00:08:38,039 --> 00:08:41,000 purchasing power of the US dollar, are we going to see 164 00:08:41,000 --> 00:08:42,720 people start who price things in Bitcoin? 165 00:08:42,720 --> 00:08:44,520 Now, I don't think that's something that's going to happen 166 00:08:44,520 --> 00:08:47,520 in 1-3, maybe even five years. But I do think that there is a 167 00:08:47,520 --> 00:08:51,240 growing group of people who say, look, this thing called Bitcoin 168 00:08:51,240 --> 00:08:54,760 is ultimately going to be a store value as it already is, 169 00:08:54,920 --> 00:08:56,880 but it will become a medium of exchange as well. 170 00:08:56,960 --> 00:08:59,440 It just needs to get to a point where the world all agrees on 171 00:08:59,440 --> 00:09:02,640 what is it worth. And if you think in 2018 the 172 00:09:02,640 --> 00:09:05,480 world thought it was worth $3000 a coin, Today the world thinks 173 00:09:05,480 --> 00:09:09,200 it's worth $105,000 a coin, it's going to continue to go higher 174 00:09:09,200 --> 00:09:11,520 and at some point it will reach some market equilibrium. 175 00:09:11,520 --> 00:09:14,280 And then when you see that switch over into, OK, now things 176 00:09:14,280 --> 00:09:16,200 are priced in Bitcoin, I think that's kind of the hyper 177 00:09:16,200 --> 00:09:18,160 bitcoinization that the bitcoiners are waiting for. 178 00:09:18,520 --> 00:09:20,560 But there is a long path to get there. 179 00:09:20,560 --> 00:09:23,360 And the sequence right now is why would I want to spend my 180 00:09:23,360 --> 00:09:26,000 Bitcoin if it's going to be worth more in the future, right? 181 00:09:26,000 --> 00:09:27,880 I want to spend the dollars that are going to be worth less in 182 00:09:27,880 --> 00:09:29,680 the future. And This is why micro strategy 183 00:09:29,680 --> 00:09:32,720 isn't just going to be 1 of 79 companies that hold Bitcoin on 184 00:09:32,720 --> 00:09:35,800 its balance sheet, but there's going to be thousands at some 185 00:09:35,800 --> 00:09:37,560 point. And this is a mega trend that's 186 00:09:37,560 --> 00:09:42,000 just beginning that as of March 30. 1st of this year. 79 public 187 00:09:42,000 --> 00:09:44,720 companies. Hold a collective. 57 billion. 188 00:09:44,720 --> 00:09:46,600 Dollars in Bitcoin on their balance sheets. 189 00:09:47,040 --> 00:09:50,120 That's a nearly 160% rise over the past year. 190 00:09:50,440 --> 00:09:52,760 What do you attribute that bump to? 191 00:09:52,800 --> 00:09:55,240 And generally. Speaking, Why do you think 192 00:09:55,240 --> 00:09:57,520 public companies are betting? Big on Bitcoin? 193 00:09:58,040 --> 00:09:59,640 Yeah, I think there are a few reasons for that. 194 00:09:59,640 --> 00:10:01,960 We think this is a mega trend, by the way, that's going to 195 00:10:01,960 --> 00:10:05,840 accelerate into the future. One, of course, is increased 196 00:10:05,840 --> 00:10:08,760 worries about the dollar. Corporations globally are 197 00:10:08,760 --> 00:10:11,080 sitting on records amount of cash and what they've 198 00:10:11,080 --> 00:10:14,080 historically done is park it in short term U.S. 199 00:10:14,080 --> 00:10:16,600 Treasuries or in fact in cash accounts. 200 00:10:17,000 --> 00:10:20,320 With the huge money printing and growing deficits, that no longer 201 00:10:20,320 --> 00:10:23,840 seems like a valid approach. They need another way to protect 202 00:10:23,840 --> 00:10:26,880 their wealth from degradation, and they're turning to the best 203 00:10:26,880 --> 00:10:29,280 horse in that race, which is Bitcoin. 204 00:10:29,520 --> 00:10:33,320 Beyond that, the investing audience has just recognized 205 00:10:33,320 --> 00:10:36,000 that this is a positive strategy, and so companies are 206 00:10:36,000 --> 00:10:39,600 being rewarded for taking this bold step of putting Bitcoin on 207 00:10:39,600 --> 00:10:41,640 their balance sheet. We think there will ultimately 208 00:10:41,640 --> 00:10:43,720 be thousands of companies that do this. 209 00:10:43,720 --> 00:10:48,120 We think we're in inning one or two of this megatrend period, 210 00:10:48,360 --> 00:10:50,840 but you're seeing it accelerate over time. 211 00:10:50,840 --> 00:10:53,120 It's very exciting. One of the things that these big 212 00:10:53,120 --> 00:10:55,360 companies do that you now have the ability to do as an 213 00:10:55,360 --> 00:10:59,080 individual is not to sell your Bitcoin, but to borrow against 214 00:10:59,080 --> 00:11:02,520 your Bitcoin, borrow against the assets on your personal balance 215 00:11:02,520 --> 00:11:04,120 sheet. And you can do that with letting 216 00:11:04,280 --> 00:11:07,520 the leader in Bitcoin back loan. Since 2018, they've issued over 217 00:11:07,520 --> 00:11:10,800 $9 billion worth of loans to 10s of thousands of customers and 218 00:11:10,800 --> 00:11:13,560 have done so in a fast, transparent and smooth manner, 219 00:11:13,720 --> 00:11:16,840 which is why they have over 1005 star customer reviews. 220 00:11:17,080 --> 00:11:20,520 They've never lost a single sat or cent of customer money and 221 00:11:20,520 --> 00:11:23,160 they were the one of the first digital lenders to do a digital 222 00:11:23,160 --> 00:11:25,920 proof of reserves so that you know that they have the assets 223 00:11:25,920 --> 00:11:29,280 that they claim to loan started this 12 point four and you can 224 00:11:29,280 --> 00:11:32,920 get 25 off your first loan by going to learn leaden AO. 225 00:11:33,040 --> 00:11:36,080 Simply one of the things that the most wealthy people do is 226 00:11:36,080 --> 00:11:38,800 they don't sell their assets. They continue to pass them down 227 00:11:38,800 --> 00:11:41,680 to future generations and one of the things that they do is they 228 00:11:41,680 --> 00:11:43,560 put them into trust. They have them as part of their 229 00:11:43,560 --> 00:11:45,680 estates and they protect them. Well. 230 00:11:45,800 --> 00:11:49,280 One of the ways you can protect your assets from forfeiture or 231 00:11:49,440 --> 00:11:52,360 being stolen or plain just not being given to you from an 232 00:11:52,360 --> 00:11:54,960 exchange like Coinbase is by removing your keys from the 233 00:11:54,960 --> 00:11:56,800 exchange. Work with a consultant and a 234 00:11:56,800 --> 00:11:58,720 partner to teach you how to do it the right way. 235 00:11:58,760 --> 00:12:01,080 And that's the Bitcoin way. Schedule a free 30 minute 236 00:12:01,080 --> 00:12:04,600 consultation with their team to remove your keys from exchanges 237 00:12:04,600 --> 00:12:07,160 the right way, confidently, safely and securely. 238 00:12:07,520 --> 00:12:10,120 Schedule a free 30 minute meeting at the bitcoinway.com 239 00:12:10,320 --> 00:12:12,240 Simply Bitcoin. There's not just a wave of 240 00:12:12,240 --> 00:12:16,280 publicly traded companies like MicroStrategy and others, even 241 00:12:16,280 --> 00:12:18,680 crypto tokens like Cardano. Now I can't believe that I'm 242 00:12:18,680 --> 00:12:21,720 saying that that are moving to buy Bitcoin as part of their 243 00:12:21,720 --> 00:12:22,960 balance sheet in their treasuries. 244 00:12:23,200 --> 00:12:26,240 But it's also real estate investors, investors like Donald 245 00:12:26,240 --> 00:12:29,320 Trump Junior and the Trump family, who realized that the 246 00:12:29,320 --> 00:12:32,920 scheme that they were once a part of and benefiting from is 247 00:12:32,920 --> 00:12:37,560 in fact a Ponzi scheme. A pyramid scheme in that on a 248 00:12:37,560 --> 00:12:40,920 flip of a switch or a blink of an eye, they can be just like 249 00:12:40,920 --> 00:12:43,280 the rest of us on the outside looking in. 250 00:12:43,480 --> 00:12:46,320 Because he did these things. The reason we got into crypto 251 00:12:46,320 --> 00:12:48,880 and we're all in on crypto and we're doing American Bitcoin and 252 00:12:48,880 --> 00:12:52,360 we have World Liberty Finance and USD One was because there 253 00:12:52,360 --> 00:12:55,880 was a time and probably I'd been on this show where there was AI 254 00:12:55,880 --> 00:12:58,080 could call any single banker in New York City. 255 00:12:58,200 --> 00:13:00,480 They'd pick up the phone. I'd be able to get a loan for 256 00:13:00,480 --> 00:13:02,880 whatever real estate project I was doing across the street. 257 00:13:03,160 --> 00:13:05,720 Then we got into politics and all of a sudden they wouldn't 258 00:13:05,720 --> 00:13:07,640 take your call. You couldn't get financing. 259 00:13:07,760 --> 00:13:10,920 We were debanked. And what I realized and my 260 00:13:10,920 --> 00:13:13,560 brother realized because we were the recipients of every subpoena 261 00:13:13,560 --> 00:13:15,320 imaginable, was that you know what? 262 00:13:15,320 --> 00:13:17,880 We were actually just the top of this sort of pyramid scheme that 263 00:13:17,880 --> 00:13:20,480 we didn't realize we were a part of, that the financial system 264 00:13:20,480 --> 00:13:24,120 was totally undemocratized because we had a certain balance 265 00:13:24,120 --> 00:13:26,080 sheet and whatever, we could kind of do whatever we wanted. 266 00:13:26,240 --> 00:13:29,760 The regular guy was messed up. Now we were all of a sudden in 267 00:13:29,760 --> 00:13:32,560 the shoes of the regular guy that wouldn't be able to take 268 00:13:32,560 --> 00:13:35,040 advantage of the markets. And we said, what's the solution 269 00:13:35,040 --> 00:13:36,840 for that? The answer is crypto. 270 00:13:37,400 --> 00:13:39,720 You know, these decentralized platforms where you're not 271 00:13:39,720 --> 00:13:42,120 beholden to this, where you create efficiencies as a guy 272 00:13:42,120 --> 00:13:44,280 that did real estate, you know, why am I paying points in and 273 00:13:44,280 --> 00:13:46,440 out for title insurance that could be done on the blockchain? 274 00:13:46,840 --> 00:13:50,280 So we got into crypto not because it was like, hey, this 275 00:13:50,280 --> 00:13:53,320 is the next cool thing. We got into it out of necessity. 276 00:13:53,520 --> 00:13:55,920 We got into it because we understood just how quickly we 277 00:13:55,920 --> 00:13:58,920 could be turned off, even as an incredible developer from New 278 00:13:58,920 --> 00:14:00,520 York. I mean, I don't think anyone 279 00:14:00,520 --> 00:14:03,600 would argue that we didn't change the skylight of New York 280 00:14:03,600 --> 00:14:05,760 City. But that disappeared in an 281 00:14:05,760 --> 00:14:08,120 instant. I mean, we're getting sued by 282 00:14:08,120 --> 00:14:10,720 the New York State AG, half a billion dollar fees for paying 283 00:14:10,720 --> 00:14:12,400 back loans on time with interest. 284 00:14:13,160 --> 00:14:15,600 These aren't, you know, fair markets. 285 00:14:15,600 --> 00:14:17,800 There's no nothing egalitarian about any of that. 286 00:14:18,080 --> 00:14:21,680 So we actually, as innovators, as people who understand these 287 00:14:21,680 --> 00:14:25,240 things, we went on all, all in on a concept that makes total 288 00:14:25,240 --> 00:14:27,120 sense because we'd actually been the recipient. 289 00:14:27,680 --> 00:14:28,960 Well, how quickly that can be shut off. 290 00:14:28,960 --> 00:14:31,640 And here's the big thesis. The next technological 291 00:14:31,640 --> 00:14:35,600 revolution isn't in some other form of technology. 292 00:14:35,880 --> 00:14:38,120 It's in money. And Bitcoin is the bedrock of 293 00:14:38,120 --> 00:14:40,560 it, whether we're talking about Bitcoin and whether we're 294 00:14:40,560 --> 00:14:43,480 talking about layer twos like lightning and stable coins that 295 00:14:43,480 --> 00:14:45,960 are being built on top of Bitcoin, according to people who 296 00:14:45,960 --> 00:14:48,880 live, breathe and eat this stuff, like Jack Mahler's, we're 297 00:14:48,880 --> 00:14:51,760 just at the beginning. And $2 trillion is scratching 298 00:14:51,760 --> 00:14:54,800 the surface for the hundreds of trillions of dollars that are 299 00:14:54,800 --> 00:14:56,760 out there for Bitcoin to consume in the future. 300 00:14:56,800 --> 00:15:00,800 You're talking about humans have created and are looking to store 301 00:15:00,800 --> 00:15:04,560 and later exchange anywhere between 300 to $500 trillion 302 00:15:04,560 --> 00:15:08,320 worth of purchasing power today. And for me, that's the 303 00:15:08,320 --> 00:15:12,280 opportunity Bitcoin is going after, is that people forget 304 00:15:12,280 --> 00:15:16,640 money is a technology just like any other technology we've 305 00:15:16,640 --> 00:15:19,520 invented. We invented it to scale society 306 00:15:19,520 --> 00:15:23,400 and solve for barter. And so the technology performs a 307 00:15:23,400 --> 00:15:26,560 very, very specific use case in the marketplace. 308 00:15:26,560 --> 00:15:31,080 And that use case is an ability to store and later exchange 309 00:15:31,080 --> 00:15:34,160 value within the market. Money is the one market good 310 00:15:34,440 --> 00:15:38,200 that you do not consume. You know, your Coca-Cola, your 311 00:15:38,200 --> 00:15:40,480 cheeseburger, your airplane, your car. 312 00:15:40,480 --> 00:15:43,240 You consume those things. You consume the car to to move 313 00:15:43,240 --> 00:15:44,960 you around. You consume the airplane to fly 314 00:15:44,960 --> 00:15:46,640 you around. You consume the cheeseburger and 315 00:15:46,640 --> 00:15:50,440 the coke as food and calories. Money is the one you don't 316 00:15:50,440 --> 00:15:53,040 consume. You acquire it to save it, not 317 00:15:53,040 --> 00:15:55,760 consume it until later, exchange it for the things you need. 318 00:15:56,120 --> 00:16:00,040 And so under all of that logic, I personally believe in today's 319 00:16:00,040 --> 00:16:03,720 purchasing power terms, Bitcoin is competing over 300 to $500 320 00:16:03,720 --> 00:16:06,480 trillion worth of value and right now it's at 2. 321 00:16:07,320 --> 00:16:14,040 So in purchasing power terms, I think it's got no one to no 2300 322 00:16:14,040 --> 00:16:17,520 X left in it and that's not in dollar terms because obviously 323 00:16:17,520 --> 00:16:20,520 as the dollar gets debased, it's distorting your understanding of 324 00:16:20,520 --> 00:16:22,960 purchasing power. You have to be able to see it 325 00:16:22,960 --> 00:16:25,760 and be patient because these things will take much longer 326 00:16:25,760 --> 00:16:28,560 than you think, and you can get mad or upset or hate on people 327 00:16:28,560 --> 00:16:30,640 like Michael Saylor for seeing what's obvious. 328 00:16:30,800 --> 00:16:34,080 The dollar is losing its value, and there's not a lot of good 329 00:16:34,080 --> 00:16:36,160 places for you to invest your capital right now. 330 00:16:36,280 --> 00:16:39,480 They're turning to Bitcoin and they're not investing into 10 331 00:16:39,480 --> 00:16:41,240 things. They're investing into one thing 332 00:16:41,480 --> 00:16:43,720 and focusing on that egg in the basket. 333 00:16:43,880 --> 00:16:47,080 With all of their focus and attention, it might be wise for 334 00:16:47,080 --> 00:16:49,200 you and me to do the same. One of the ways that they're 335 00:16:49,200 --> 00:16:51,840 focusing all of their attention on this one asset class is by 336 00:16:51,840 --> 00:16:53,680 learning everything that they can about it. 337 00:16:53,840 --> 00:16:56,400 You can learn about all the makers, manufacturers, and 338 00:16:56,400 --> 00:16:59,800 builders in the space by coming down to Dallas, TX from November 339 00:16:59,800 --> 00:17:02,880 11th through November 13th at the Bitcoin Mining Disrupt 340 00:17:02,880 --> 00:17:06,240 Conference, the largest mining Expo conference in the world. 341 00:17:06,240 --> 00:17:09,440 Get 20% off your ticket by using the promo code Simply Bitcoin. 342 00:17:09,520 --> 00:17:12,000 If you got value from this episode like always, please 343 00:17:12,000 --> 00:17:15,200 like, do and share. And as always, happy stacking.