1 00:00:02,040 --> 00:00:06,080 Michael Saylor has been buying thousands of Bitcoin per day. 2 00:00:06,360 --> 00:00:09,840 And yesterday, on stage at the biggest Bitcoin conference in 3 00:00:09,840 --> 00:00:14,680 the world, he told us what the long-awaited supply shock will 4 00:00:14,680 --> 00:00:18,880 look like in 2026. And if Michael Saylor's even 5 00:00:18,880 --> 00:00:23,080 directionally correct, I don't think anybody is prepared for 6 00:00:23,080 --> 00:00:27,680 the rally we're going to see towards the year end of 2026. 7 00:00:27,680 --> 00:00:31,360 We have a ton of news coming out of the conference that I will 8 00:00:31,360 --> 00:00:34,920 break down for you today. But before we get to that, let's 9 00:00:34,920 --> 00:00:37,520 start with the first Michael Saylor clip. 10 00:00:37,720 --> 00:00:41,680 Here we go. Just curious in terms of what 11 00:00:41,680 --> 00:00:44,920 your thoughts are, what's next? What should we be excited about 12 00:00:45,840 --> 00:00:51,320 closing out this year of 2026? Well, I think bitcoins going to 13 00:00:51,320 --> 00:00:53,880 rally. I, I, I think there's a lot of 14 00:00:53,880 --> 00:00:57,680 capital flowing into Bitcoin right now. 15 00:00:57,680 --> 00:01:02,080 And at the rate that digital credit is forming and at the 16 00:01:02,080 --> 00:01:05,480 rate you saw our buy this morning, we bought the entire 17 00:01:05,480 --> 00:01:08,920 supply last week. Then Strive announced a massive 18 00:01:08,920 --> 00:01:11,360 buy. Then there's a massive bank 19 00:01:11,360 --> 00:01:15,400 credit coming online. All the big banks, JP Morgan 20 00:01:15,400 --> 00:01:19,680 City, Schwab, Morgan Stanley, Barclays, they're all coming 21 00:01:19,680 --> 00:01:22,200 online. So I think the formation of 22 00:01:22,320 --> 00:01:29,040 you're talking about between 20 and $100 billion worth of credit 23 00:01:29,040 --> 00:01:33,520 formation in the next 12 months. And there's only $10 billion of 24 00:01:33,520 --> 00:01:35,720 Bitcoin naturally available for sale. 25 00:01:35,960 --> 00:01:40,080 So I think that we're setting up a massive supply shock. 26 00:01:40,920 --> 00:01:45,640 There ought to be a rally in in BTCI, think that'll catalyse a 27 00:01:45,640 --> 00:01:48,840 rally and all the Bitcoin treasury companies, I think it 28 00:01:48,840 --> 00:01:51,280 will cause a rally and demand for digital credit. 29 00:01:51,760 --> 00:01:54,080 I think there'll be a rally in bank credit. 30 00:01:54,640 --> 00:02:00,280 I think, I think the Clarity Act will go through and there'll be 31 00:02:00,280 --> 00:02:04,600 a lot of very constructive guidance from the CFTC, Treasury 32 00:02:05,000 --> 00:02:09,840 and and the SECI think that that will accelerate digital assets 33 00:02:09,840 --> 00:02:15,320 innovation. Guys, I, I obviously you know 34 00:02:15,320 --> 00:02:19,360 me, I, I guess don't have the best memory, but if I'm not 35 00:02:19,360 --> 00:02:23,320 mistaken, this feels like the first time sailors said supply 36 00:02:23,320 --> 00:02:27,040 shock, or at the very least he's only said it a couple of times. 37 00:02:27,240 --> 00:02:29,520 And I know a lot of us Bitcoiners have been saying 38 00:02:29,520 --> 00:02:33,960 this, but I think This is why this clip hit so hard because 39 00:02:33,960 --> 00:02:37,360 it's not just me and our boy Luke saying supply shock every 40 00:02:37,360 --> 00:02:39,680 week. It's Sailor with his vantage 41 00:02:39,680 --> 00:02:41,920 point, which is one of the things I've been telling you 42 00:02:41,920 --> 00:02:46,080 guys in regards to the amount of capital going into stretch or 43 00:02:46,080 --> 00:02:49,880 the amount of capital that Sailor is being able to attract 44 00:02:50,080 --> 00:02:53,640 with his new Bitcoin products. Now, one of the interesting 45 00:02:53,640 --> 00:02:58,840 numbers in there that I I actually had to think about a 46 00:02:58,840 --> 00:03:03,240 little bit is what he said about there's only 10 billion of 47 00:03:03,240 --> 00:03:07,000 naturally, you know, natural supply of Bitcoin. 48 00:03:07,400 --> 00:03:10,320 And at first I was thinking maybe he's talking about the 49 00:03:10,320 --> 00:03:14,400 Bitcoin on exchanges, but I think what he's talking about is 50 00:03:14,480 --> 00:03:16,680 what he mentioned in the beginning of the clip that 51 00:03:16,680 --> 00:03:21,160 they're buying up all the mine, you know, the Bitcoin left to 52 00:03:21,160 --> 00:03:27,320 mine supply, which would roughly be around 12 billion a year, at 53 00:03:27,320 --> 00:03:31,480 least at current prices. So I think what he's saying is, 54 00:03:31,480 --> 00:03:34,880 hey, look, me myself with Stretch, with the amount of 55 00:03:34,880 --> 00:03:38,000 interest going into stretch, we're buying up literally all of 56 00:03:38,040 --> 00:03:42,720 the newly supply, newly mined supply of Bitcoin. 57 00:03:43,080 --> 00:03:45,760 And that doesn't even account for everything else that we're 58 00:03:45,760 --> 00:03:47,800 seeing. Obviously, I covered it for you 59 00:03:47,800 --> 00:03:51,400 guys yesterday Strive announced a he, he called it significant 60 00:03:51,400 --> 00:03:54,960 by maybe in comparison to what we saw from Sailor, it was 61 00:03:55,000 --> 00:03:58,360 didn't feel that significant. But again, there's multiple 62 00:03:58,360 --> 00:04:00,640 players, multiple factors playing out right now that 63 00:04:00,640 --> 00:04:03,240 wanted to acquire a lot of Bitcoin And that doesn't even 64 00:04:03,240 --> 00:04:05,960 account for what we're seeing from the institutional interest, 65 00:04:05,960 --> 00:04:09,840 which as Sailor laid out seems to be accelerating. 66 00:04:10,040 --> 00:04:16,519 So all of this is playing out with almost like little to no, 67 00:04:17,680 --> 00:04:20,600 how do I say it, like attention coming into Bitcoin right now, 68 00:04:20,839 --> 00:04:23,240 the majority of people are still sleeping on Bitcoin. 69 00:04:23,920 --> 00:04:27,200 I will be covering later on in the show what levels people are 70 00:04:27,200 --> 00:04:30,240 probably watching right now, at least from an institutional 71 00:04:30,240 --> 00:04:34,240 perspective, what we're all kind of watching to wrap our heads 72 00:04:34,240 --> 00:04:37,080 around whether we are making it out of a bear market, where 73 00:04:37,080 --> 00:04:39,640 we're whether we're at the end of a bear market, where, where 74 00:04:39,680 --> 00:04:43,640 do we currently stand right now? But as you can hear, Sailor is 75 00:04:43,640 --> 00:04:46,880 extremely bullish. Now obviously you guys joke all 76 00:04:46,880 --> 00:04:48,720 the time. We are simply Sailor here at 77 00:04:48,720 --> 00:04:53,840 this show because he's been the biggest proponent for Bitcoin 78 00:04:53,840 --> 00:04:59,160 for the last couple of years. And in I think a further clip or 79 00:04:59,160 --> 00:05:01,400 maybe actually it was in in the beginning of this clip and I and 80 00:05:01,400 --> 00:05:03,760 I cut it out. He basically said that in the 81 00:05:03,760 --> 00:05:07,440 last 12 months or the last six months I believe it was, he's 82 00:05:07,440 --> 00:05:10,440 seen more innovation than in the first five years that he's been 83 00:05:10,440 --> 00:05:13,920 in Bitcoin. As you can see, there's a lot of 84 00:05:13,920 --> 00:05:17,440 factors accelerating right now that are making everyone feel 85 00:05:17,440 --> 00:05:19,800 extremely bullish. Obviously we've had a lot of 86 00:05:19,800 --> 00:05:24,760 really good news stories. We have a generally positive 87 00:05:24,760 --> 00:05:27,440 administration around Bitcoin and I will cover some of the 88 00:05:27,440 --> 00:05:30,640 stuff you know that we heard out of the Bitcoin conference which 89 00:05:30,640 --> 00:05:34,920 were a little more contentious. But we are starting to see that 90 00:05:34,920 --> 00:05:38,200 everything is kind of building in our direction right now. 91 00:05:38,720 --> 00:05:42,760 And if we continue to see the amount of interest going into 92 00:05:42,760 --> 00:05:46,080 stretch like I've been covering, they've been able to acquire 93 00:05:46,080 --> 00:05:48,560 about a billion dollars a week. And I will update that for you 94 00:05:48,560 --> 00:05:52,520 guys in a minute. Things are heating up. 95 00:05:52,520 --> 00:05:56,600 And I saw you guys in the beginning of the show being or 96 00:05:56,600 --> 00:06:00,720 rather saying something on the lines of I've been hearing about 97 00:06:00,720 --> 00:06:03,760 the supply shock forever. I think we've all been hearing 98 00:06:03,760 --> 00:06:07,760 about it. And maybe in true Bitcoin or 99 00:06:07,760 --> 00:06:12,640 fashion, we've all been a little bit early on whether this is 100 00:06:12,640 --> 00:06:14,480 happening. Now, I did see some people say 101 00:06:14,480 --> 00:06:16,240 like it's not going to happen this cycle is going to happen 102 00:06:16,240 --> 00:06:20,400 next cycle. But it does feel as if the 103 00:06:20,400 --> 00:06:23,840 institutional interest coming into Bitcoin, the institutional 104 00:06:23,840 --> 00:06:28,000 products, the amount of, I don't want to say regulatory clarity, 105 00:06:28,000 --> 00:06:33,000 but the amount of factors playing into the Bitcoin bull 106 00:06:33,000 --> 00:06:35,600 run that is probably ahead of us in 2027. 107 00:06:38,320 --> 00:06:44,880 It does seem as though we are all probably a little little 108 00:06:44,880 --> 00:06:47,120 bearish on what we think the next cycle is. 109 00:06:47,120 --> 00:06:48,960 A lot of people have this impression. 110 00:06:48,960 --> 00:06:50,760 I think I was covering it yesterday or maybe it was the 111 00:06:50,760 --> 00:06:53,560 end of the last week. We all have this impression that 112 00:06:53,560 --> 00:06:57,360 since Bitcoin is a 1 1/2 trillion dollar asset, the 113 00:06:57,360 --> 00:07:00,960 higher it goes, the harder it is for it to go even higher. 114 00:07:01,960 --> 00:07:06,400 But that's if you really account for a steady influx of capital 115 00:07:06,400 --> 00:07:09,360 coming into Bitcoin. What we're seeing is that the 116 00:07:09,360 --> 00:07:11,320 influx of capital is accelerating. 117 00:07:11,320 --> 00:07:14,040 It is going higher because of what Sailor did. 118 00:07:14,240 --> 00:07:18,160 Now, obviously Sailor himself isn't going to be the sole 119 00:07:18,160 --> 00:07:20,520 person to drive the Bitcoin price up. 120 00:07:22,400 --> 00:07:25,080 But once it starts turning around, once people start 121 00:07:25,080 --> 00:07:26,960 feeling a little comfortable, whether it's the macro 122 00:07:26,960 --> 00:07:30,560 landscape, whether it's the price of Bitcoin going up and 123 00:07:30,560 --> 00:07:34,360 people start to FOMO into it, all of these factors are really 124 00:07:34,360 --> 00:07:40,360 going to magnify and crash into a hard cap, limited supply. 125 00:07:41,040 --> 00:07:44,800 Again, thinking about that $10 billion number, he said anywhere 126 00:07:44,800 --> 00:07:49,360 between 20 and $100 billion of capital is going to be fighting 127 00:07:49,360 --> 00:07:51,760 for about $10 billion of Bitcoin. 128 00:07:52,880 --> 00:07:57,520 So A2 to 10X influx of capital fighting for the daily mind 129 00:07:57,520 --> 00:08:00,840 supply of Bitcoin. Obviously, there is this 130 00:08:00,840 --> 00:08:05,720 contention or this idea of what two and a half million Bitcoin 131 00:08:05,720 --> 00:08:08,840 on exchanges. You know what, how do we really 132 00:08:08,840 --> 00:08:11,360 factor this in because a lot of people will just bring more 133 00:08:11,360 --> 00:08:14,440 Bitcoin when they want to sell and there's even a kind of 134 00:08:14,440 --> 00:08:16,680 concern about that two and a half million. 135 00:08:16,680 --> 00:08:20,520 Is it really off the exchange? Are they factoring in the 136 00:08:20,800 --> 00:08:23,600 strategy holdings? Can we really trust that 137 00:08:23,600 --> 00:08:26,680 Coinbase isn't rehypothecating etcetera, etcetera, etcetera. 138 00:08:28,040 --> 00:08:35,520 But what we are seeing is that we as an industry, as a 139 00:08:35,520 --> 00:08:40,679 phenomenon have grown way bigger than we ever have in every other 140 00:08:40,679 --> 00:08:43,360 cycle. And maybe we are waiting for a 141 00:08:43,360 --> 00:08:45,600 fabled supply shock. But again, I don't think I've 142 00:08:45,600 --> 00:08:50,080 ever heard sailors say supply shock in any clip sound by 143 00:08:50,080 --> 00:08:53,200 interview. You guys can correct me and I 144 00:08:53,200 --> 00:08:55,800 and I could be wrong on this, but I think this is the first 145 00:08:55,800 --> 00:08:58,920 time he said this. Maybe he's been listening to a 146 00:08:58,920 --> 00:09:03,720 little bit of Samson Mao here. But this does seem to be a hot 147 00:09:03,720 --> 00:09:06,400 take because we've all been saying supply shock. 148 00:09:06,600 --> 00:09:09,520 I've seen you guys yell at me in the chat being like, oh, here we 149 00:09:09,520 --> 00:09:10,440 go. Supply shock. 150 00:09:10,440 --> 00:09:12,000 Is the supply shock in the room with us? 151 00:09:13,200 --> 00:09:18,640 Not yet, but it seems like all the factors are leading into the 152 00:09:18,640 --> 00:09:23,000 fable, the mythical supply shock actually playing out in 2026. 153 00:09:23,000 --> 00:09:26,280 So it's going to be interesting to see this happen. 154 00:09:26,280 --> 00:09:30,560 Now there is another clip that I want to add here and it is the 155 00:09:30,560 --> 00:09:34,800 same speech, but it's Saylor talking about the quote digital 156 00:09:34,800 --> 00:09:38,640 credit. Now, obviously we are hardcore 157 00:09:38,640 --> 00:09:42,520 self custody maxies, but it does seem like the digital credit 158 00:09:42,520 --> 00:09:44,840 quote UN quote meme is catching on. 159 00:09:44,840 --> 00:09:48,880 It does seem like there is a real interest in digital credit, 160 00:09:48,880 --> 00:09:52,760 which is being led by Saylor and the Stretch or STRC product. 161 00:09:53,400 --> 00:09:57,360 And that does seem to be bringing in a whole new audience 162 00:09:57,360 --> 00:09:59,760 or a whole new demand from a totally different market that 163 00:09:59,760 --> 00:10:05,120 Bitcoin wasn't able to attract. So this clip, just in addition 164 00:10:05,120 --> 00:10:08,600 to what he just said, is really playing out through the idea 165 00:10:08,600 --> 00:10:13,400 that maybe the supply shock is starting to enter the room. 166 00:10:13,400 --> 00:10:17,280 Let's let's watch this clip. So I, I don't think there's any 167 00:10:17,280 --> 00:10:19,240 question digital credits going to work. 168 00:10:19,240 --> 00:10:23,160 There's 3/3 and 1/2 trillion dollars in private credit right 169 00:10:23,160 --> 00:10:28,720 now and that 3 1/2 trillion is getting 8 1/2 percent, 9% yields 170 00:10:28,720 --> 00:10:34,120 is totally a liquid. And if even 1 or 2% of it flows 171 00:10:34,120 --> 00:10:36,960 into digital credit, this will be an explosion. 172 00:10:37,320 --> 00:10:41,760 I don't know why you wouldn't have 10% of it, $370 billion 173 00:10:42,000 --> 00:10:44,800 just coming out of private credit flowing into digital 174 00:10:44,800 --> 00:10:49,520 credit. It's all illiquid, opaque under 175 00:10:49,520 --> 00:10:57,120 collateralized unrated stuff. So digital credit, if it if it 176 00:10:57,120 --> 00:11:00,640 got even 1 or 2% of the junk bond market, the private credit 177 00:11:00,640 --> 00:11:06,080 market, you know, or, or other sorts of exotic credit, it would 178 00:11:06,080 --> 00:11:11,440 be exploding. In fact, if you look right now 179 00:11:11,440 --> 00:11:16,440 at STRCSTRC is the largest preferred equity in the world 180 00:11:17,800 --> 00:11:20,600 and it is the most liquid preferred equity in the world 181 00:11:21,480 --> 00:11:25,280 and the fastest growing, maybe one of the fastest growing, you 182 00:11:25,280 --> 00:11:27,960 know, financial products in the world all in the first eight 183 00:11:27,960 --> 00:11:30,920 months. And that's without any of this 184 00:11:30,920 --> 00:11:34,360 happening. So I think that the digital 185 00:11:34,360 --> 00:11:40,000 credit train has left the station stretch is working even 186 00:11:40,000 --> 00:11:45,560 today as SATA, you know it's like what $99.99 hitting par 187 00:11:45,560 --> 00:11:48,840 right now. So, so you can see that that 188 00:11:48,840 --> 00:11:51,600 asset class is working. Both those instruments are 189 00:11:51,600 --> 00:11:54,760 working right now. I think that all of the 190 00:11:54,760 --> 00:11:57,200 uncertainty is really just opportunity. 191 00:11:58,960 --> 00:12:02,080 I love that ending. All the uncertainty is really 192 00:12:02,520 --> 00:12:04,480 just opportunity. You love to hear it. 193 00:12:04,480 --> 00:12:07,280 OK, guys, to put this in the context because he didn't 194 00:12:07,280 --> 00:12:11,120 actually put the numbers, but from my understanding and from 195 00:12:11,200 --> 00:12:14,560 my memory here, the credit market's about like what, $300 196 00:12:14,560 --> 00:12:21,040 trillion? So 1 to 2%, about what, 3 to $6 197 00:12:21,040 --> 00:12:23,560 trillion of demand coming into Bitcoin. 198 00:12:24,840 --> 00:12:30,320 If my math is correct, that's a multiple of, you know, two to 199 00:12:30,320 --> 00:12:32,080 three times the Bitcoin market cap. 200 00:12:32,800 --> 00:12:36,120 The only reason I'm bringing these numbers up because as 201 00:12:36,120 --> 00:12:39,720 Taylor said and as we've been watching, it does seem like the 202 00:12:39,720 --> 00:12:43,280 digital credit idea has left the station. 203 00:12:43,280 --> 00:12:45,680 It does seem like there's an incredible demand going into 204 00:12:45,680 --> 00:12:48,400 digital credit. Now obviously from our 205 00:12:48,400 --> 00:12:52,600 perspective, we're always like just buy spot Bitcoin. 206 00:12:54,640 --> 00:12:59,120 But again, from the credit market participant perspective, 207 00:13:00,560 --> 00:13:03,560 either they don't want to buy spot Bitcoin or further, they're 208 00:13:03,560 --> 00:13:05,600 not even allowed to buy spot Bitcoin. 209 00:13:05,880 --> 00:13:09,200 And now they have something that they can get into with 210 00:13:09,200 --> 00:13:14,120 incredible upside. Again, what we've been talking 211 00:13:14,120 --> 00:13:17,080 about, rather what I've been talking about and I've been 212 00:13:17,080 --> 00:13:21,040 trying to put this into context or rather into a framing model 213 00:13:21,400 --> 00:13:24,440 that obviously makes you extremely bullish. 214 00:13:24,440 --> 00:13:27,480 That's, that's my job here. Full disclosure, I am a Bitcoin 215 00:13:27,480 --> 00:13:30,160 propagandist. I am a, you know, I'm not biased 216 00:13:30,160 --> 00:13:33,440 Bitcoiner. I think this is going to 217 00:13:33,440 --> 00:13:35,800 explode. But as you see, the numbers 218 00:13:35,800 --> 00:13:39,160 aren't even that crazy. Just a little bit of capital 219 00:13:39,160 --> 00:13:43,120 finding its way into Bitcoin and and obviously relative little 220 00:13:43,120 --> 00:13:45,280 bit of capital. It would be huge. 221 00:13:45,280 --> 00:13:48,800 Bitcoin's market cap's at 1 1/2 trillion right now if $3 222 00:13:48,800 --> 00:13:51,640 trillion found its way into digital credit. 223 00:13:51,880 --> 00:13:57,680 STRC or the what is it Strata, the Stride product or I think 224 00:13:57,680 --> 00:14:02,800 it's Strata. This is an incredible demand 225 00:14:02,800 --> 00:14:05,440 coming into Bitcoin, something that we've never seen before. 226 00:14:07,400 --> 00:14:11,040 And I think This is why Saylor is finally going into the supply 227 00:14:11,040 --> 00:14:13,920 shock meme. He's finally saying what we 228 00:14:13,960 --> 00:14:17,560 look, he's basically saying Bitcoin simply Bitcoin headlines 229 00:14:17,560 --> 00:14:19,160 here. Bitcoins going to explode. 230 00:14:19,560 --> 00:14:22,480 You guys yell at me all the time for for the titles. 231 00:14:23,360 --> 00:14:26,560 He's saying it now he's starting to get bullish. 232 00:14:26,560 --> 00:14:31,160 Remember last week, he basically said that he believes that the 233 00:14:32,400 --> 00:14:37,120 crypto winter is over. And I think this is because 234 00:14:37,120 --> 00:14:40,640 we've seen, I literally said that on Friday that I think the 235 00:14:40,640 --> 00:14:43,800 reason he's saying that is because of the amount of demand 236 00:14:43,800 --> 00:14:47,440 that he's seeing going into this, quote, digital credit 237 00:14:47,440 --> 00:14:49,720 product that he's created. And further, the other people 238 00:14:49,720 --> 00:14:53,680 follow along. And that really leans into the 239 00:14:53,680 --> 00:14:57,520 idea that I've been saying it's not that much or sorry. 240 00:14:57,520 --> 00:15:01,680 It's not too crazy to think that the diminishing returns meme 241 00:15:01,960 --> 00:15:05,240 could fundamentally break here in the next year or so. 242 00:15:06,280 --> 00:15:10,520 I know everyone is still locked in on the four year cycle 243 00:15:10,520 --> 00:15:13,440 diminishing returned. Bigger number means it's harder 244 00:15:13,440 --> 00:15:17,080 to get bigger number and we got to attract a lot more capital. 245 00:15:18,760 --> 00:15:25,200 But it seems like the quote digital credit idea is the very 246 00:15:25,200 --> 00:15:27,520 thing that is going to attract a lot of capital. 247 00:15:27,520 --> 00:15:30,760 Now to give you an update because I have been doing this 248 00:15:30,760 --> 00:15:34,360 lately, here is the current numbers. 249 00:15:35,320 --> 00:15:40,400 Oh wow, it literally jumped 25,000,000 since I started the 250 00:15:40,400 --> 00:15:42,800 show. That's crazy. 251 00:15:43,120 --> 00:15:45,560 OK, so you saw yesterday, I think yesterday when I brought 252 00:15:45,560 --> 00:15:47,520 this up on the show, it was around 80 million. 253 00:15:47,920 --> 00:15:51,040 It finally ended at 200 million yesterday. 254 00:15:51,640 --> 00:15:57,600 When I got this website up this morning, it was 70 million and 255 00:15:57,600 --> 00:16:01,520 now it's at 94,000,000. So in about an hour, obviously 256 00:16:01,520 --> 00:16:04,720 it doesn't mean that in an hour it's attracted 2425 million. 257 00:16:05,360 --> 00:16:09,320 They probably just updated this, but you can see how crazy this 258 00:16:09,320 --> 00:16:10,880 is. There's still a lot of time 259 00:16:10,880 --> 00:16:13,320 left. So if he gets another $200 260 00:16:13,320 --> 00:16:20,480 million a day, I think they're going to have another billion 261 00:16:20,480 --> 00:16:25,720 dollar week into stretch. And if this happens, this is 262 00:16:25,720 --> 00:16:29,720 where we are starting to see the trend of exactly what Saylor 263 00:16:29,720 --> 00:16:32,800 just said. The digital credit has left the 264 00:16:32,800 --> 00:16:35,560 station. This is the hottest product 265 00:16:35,560 --> 00:16:38,400 right now. It's performing incredibly. 266 00:16:39,200 --> 00:16:42,280 It's getting a lot of attention because it's attracting so much 267 00:16:42,280 --> 00:16:44,560 capital. And a sailor likes to say that 268 00:16:44,560 --> 00:16:50,000 is that flywheel where you track more interest, you create more 269 00:16:50,000 --> 00:16:55,040 demand, they buy more Bitcoin. And this just keeps repeating 270 00:16:55,040 --> 00:17:00,600 and repeating and repeating. If Sailor is capable of doing 271 00:17:00,600 --> 00:17:04,560 another billion dollar week, and I really had my doubts yesterday 272 00:17:04,720 --> 00:17:06,839 when I was looking at the numbers, I'm like, oh, he's, 273 00:17:07,000 --> 00:17:08,960 he's going to, you know, slow down a little bit. 274 00:17:09,319 --> 00:17:12,119 But here you can see last week, 1.2 billion. 275 00:17:12,680 --> 00:17:15,000 I'm guessing today they're probably going to attract in the 276 00:17:15,359 --> 00:17:17,680 100 million. So it might end up at 200 277 00:17:17,680 --> 00:17:21,960 million, you know, 5 * 2. I think they might have a 278 00:17:21,960 --> 00:17:24,720 billion dollar week. Again, that's four weeks in a 279 00:17:24,720 --> 00:17:29,400 row. I think it is becoming very 280 00:17:29,400 --> 00:17:34,440 clear that what Saylor is saying is backed by much more than just 281 00:17:34,440 --> 00:17:40,080 me shilling hopium on the show. He's seeing stuff behind the 282 00:17:40,080 --> 00:17:44,680 scenes that is really making him be or rather making him go out 283 00:17:44,680 --> 00:17:47,280 there and say at the Bitcoin conference, obviously he needs 284 00:17:47,280 --> 00:17:49,320 some sound bites. Like I'll give that to you, he 285 00:17:49,320 --> 00:17:53,200 needs some sound bites, but he's going out there now and saying 286 00:17:53,200 --> 00:17:58,640 supply shock rally into the end of 2026. 287 00:18:00,040 --> 00:18:03,760 He's already put his head on the on the chopping block and said 288 00:18:03,760 --> 00:18:08,160 the crypto winter is over. Though again, I do have another 289 00:18:08,160 --> 00:18:12,560 little update from Andre for Bitwise kind of talking about 290 00:18:12,560 --> 00:18:14,280 where we currently stand in the market. 291 00:18:15,680 --> 00:18:21,000 We're not out of the woods yet. And and further, we did see 292 00:18:21,000 --> 00:18:24,600 that. The Bitcoin conference dump the 293 00:18:24,760 --> 00:18:29,320 the classic Bitcoin conference dump every single year. 294 00:18:29,320 --> 00:18:31,160 It did go a little lower. It's a it. 295 00:18:31,960 --> 00:18:34,720 From the high of yesterday, we're about 5% down. 296 00:18:35,080 --> 00:18:36,800 Obviously it's not crazy. It's a dump. 297 00:18:36,800 --> 00:18:39,280 For ants it I wouldn't really be concerned about it. 298 00:18:39,280 --> 00:18:42,480 It's not something to really panic, but it's playing out 299 00:18:42,480 --> 00:18:46,120 exactly as we all knew it was going to happen, which is just 300 00:18:46,520 --> 00:18:50,320 always hilarious to me that the biggest event in Bitcoin, the 301 00:18:50,320 --> 00:18:54,080 Bitcoin conference, the price always dumps. 302 00:18:54,800 --> 00:18:59,720 But anyway, sailors out here first day of the conference to I 303 00:18:59,720 --> 00:19:02,760 think what the numbers were is about 8000 people that were in 304 00:19:02,760 --> 00:19:05,000 attendance yesterday. I think today is going to be a 305 00:19:05,000 --> 00:19:07,760 little more. He's out there saying, look, 306 00:19:07,840 --> 00:19:11,240 this year is going to blow everyone's socks off. 307 00:19:11,240 --> 00:19:17,000 I think we're all going to look back and be a little mad that we 308 00:19:17,000 --> 00:19:21,480 weren't as bullish as we say we are, that we weren't stacking as 309 00:19:21,480 --> 00:19:26,440 hard as we like to say we do in the chat all the time. 310 00:19:28,000 --> 00:19:30,440 But all these factors are playing out, which we've been 311 00:19:30,440 --> 00:19:32,280 covering on this show for a long time. 312 00:19:32,560 --> 00:19:36,760 And I know a lot of us, I mean included, and you guys in the 313 00:19:36,760 --> 00:19:42,240 chat are not the happiest of or not the happiest about the 314 00:19:42,240 --> 00:19:44,040 institutional interest in Bitcoin. 315 00:19:44,040 --> 00:19:46,720 I have been saying that it seems like the biggest attack on 316 00:19:46,720 --> 00:19:50,160 Bitcoin is not, you know, what node you're running, It's that 317 00:19:50,160 --> 00:19:55,760 Wall Street wants your Bitcoin. They are delivering products to 318 00:19:55,760 --> 00:19:59,080 incentivize you to give up custody of your Bitcoin. 319 00:20:00,520 --> 00:20:02,960 So what are you going to do? You're going to acquire, 320 00:20:02,960 --> 00:20:05,680 accumulate more Bitcoin and make sure you take that into self 321 00:20:05,680 --> 00:20:07,680 custody. Because if you're giving up your 322 00:20:07,680 --> 00:20:09,960 Bitcoin right now and we're on the verge of an incredible 323 00:20:09,960 --> 00:20:14,320 rally, who knows what happens and who knows who's going to 324 00:20:14,320 --> 00:20:17,640 blow up? You probably won't know until we 325 00:20:17,640 --> 00:20:22,520 see some kind of drawdown again. But I would not risk it if what 326 00:20:22,520 --> 00:20:26,920 we think is going to happen and Bitcoin's going to have an 327 00:20:26,920 --> 00:20:33,280 incredible rally 2020 end of 202620272028 like the four year 328 00:20:33,280 --> 00:20:37,840 cycle kind of basically says the safest and best place for you to 329 00:20:37,840 --> 00:20:43,920 have your Bitcoin is under your control, Not your keys, not your 330 00:20:43,920 --> 00:20:46,440 cheese. We all know the memes. 331 00:20:46,440 --> 00:20:48,360 We can't forget our fundamentals here. 332 00:20:51,520 --> 00:20:53,840 But I'm going to side with Sailor on this one. 333 00:20:54,600 --> 00:21:01,200 I too also believe that we are probably seeing a supply shock 334 00:21:01,200 --> 00:21:03,520 building out right now in real time. 335 00:21:04,280 --> 00:21:07,240 I, I said it a couple of times. It feels like the foundational 336 00:21:07,240 --> 00:21:11,560 steps are being built out right now and it, it is kind of like 337 00:21:11,560 --> 00:21:13,600 the matrix meme, you know, like not like this. 338 00:21:13,920 --> 00:21:16,720 You guys know that one where the they unplug her and she's like 339 00:21:16,720 --> 00:21:20,600 crying, not like this. It isn't happening, happening 340 00:21:20,600 --> 00:21:27,040 exactly as maybe the cypherpunk perspective thought it would, 341 00:21:28,440 --> 00:21:32,760 but it's happening exactly as it was always going to happen, 342 00:21:32,760 --> 00:21:35,640 which is literally the theme of today's show. 343 00:21:35,800 --> 00:21:38,840 This is like the theme of today's show is Bitcoin is for 344 00:21:38,840 --> 00:21:45,160 enemies. Yes, there is literal, you know, 345 00:21:46,240 --> 00:21:51,240 ABC men at the conference speaking to us, trying to 346 00:21:51,240 --> 00:21:53,400 persuade us that they are on our side. 347 00:21:53,400 --> 00:21:56,640 And I will break some of this stuff down later on in the show, 348 00:21:57,520 --> 00:22:01,960 but we are seeing that look, it's almost a repeat of what we 349 00:22:01,960 --> 00:22:06,320 saw in November of 2024. And, and this is really where I 350 00:22:06,320 --> 00:22:12,120 start to probably become cynical fields here is because it is a 351 00:22:12,200 --> 00:22:16,920 lot of rhetoric and we have yet to see that much action. 352 00:22:17,160 --> 00:22:20,000 Though we did get like an announcement of an announcement. 353 00:22:20,000 --> 00:22:22,360 And I, and I didn't bring it up on today's show, but we did get 354 00:22:22,360 --> 00:22:24,360 an announcement of an announcement by, I believe it 355 00:22:24,360 --> 00:22:26,760 was Tom Willis, I believe, or Tom Wills. 356 00:22:27,320 --> 00:22:32,680 He said that we will get a very big strategic Bitcoin reserve 357 00:22:32,680 --> 00:22:34,680 announcement soon, in a few weeks. 358 00:22:34,680 --> 00:22:37,200 So he, he's literally doing an announcement of an announcement 359 00:22:37,200 --> 00:22:39,360 on stage. But I, I, I'm not playing that 360 00:22:39,360 --> 00:22:44,240 clip for you guys, but it does seem like maybe they are 361 00:22:44,240 --> 00:22:49,720 starting to realize that they need to get some action, like 362 00:22:49,720 --> 00:22:54,160 they need to do something concrete here, especially if the 363 00:22:54,160 --> 00:22:59,200 midterms are about to heat up, especially now that it seems as 364 00:22:59,200 --> 00:23:03,360 if the Clarity Act, it's still in limbo now it's been pushed 365 00:23:03,360 --> 00:23:05,440 back. Shouts out to Senator Lummis. 366 00:23:05,440 --> 00:23:09,680 I saw her, her, you know, her blurb yesterday, a little sound 367 00:23:09,680 --> 00:23:11,840 bite. Now they're saying mid-May, 368 00:23:12,040 --> 00:23:14,240 mid-May is when the Clarity Act is going to happen. 369 00:23:14,240 --> 00:23:16,920 I did see some people say that by June, it's going to happen, 370 00:23:17,320 --> 00:23:20,640 keeps getting delayed, right? But I think they're starting to 371 00:23:20,640 --> 00:23:26,080 realize like, OK, it's time. Everyone's got this feeling that 372 00:23:26,080 --> 00:23:28,880 it is time now for some action to happen. 373 00:23:30,360 --> 00:23:35,680 And if we do see the action, then maybe in hindsight, we'll 374 00:23:35,680 --> 00:23:39,760 look at the rhetoric that we're hearing today and we won't be so 375 00:23:39,760 --> 00:23:43,120 cynical about it. I will be a little cynical about 376 00:23:43,120 --> 00:23:44,400 it on today's show, I'm not going to lie. 377 00:23:44,400 --> 00:23:51,640 But hey, how about in the chat? Do you believe in the supply 378 00:23:51,640 --> 00:23:53,480 shock? I want to believe in the supply 379 00:23:53,480 --> 00:23:55,600 shock. Is it ever going to happen? 380 00:23:55,600 --> 00:23:58,040 Are we going to see this start to play out? 381 00:23:58,040 --> 00:24:06,400 Right now it really feels like with the amount of education 382 00:24:06,520 --> 00:24:09,840 reports, analysis from the institutions with the 383 00:24:09,840 --> 00:24:15,400 recommendations of anywhere between 1:00 to 20% of their 384 00:24:15,400 --> 00:24:17,520 clients portfolio should be in Bitcoin. 385 00:24:19,680 --> 00:24:23,080 With the supposed Clarity Act going through and whether that's 386 00:24:23,080 --> 00:24:26,400 going to be beneficial or not, the unlock of capital could be 387 00:24:26,400 --> 00:24:34,160 very, very swift and we could see an increased demand that 388 00:24:34,160 --> 00:24:37,280 we've never seen before. That's obviously the bull case. 389 00:24:37,280 --> 00:24:40,320 That's what I've been saying for a long time in regards to. 390 00:24:40,320 --> 00:24:42,720 The only thing I was bullish about the institutions coming 391 00:24:42,720 --> 00:24:44,360 was that they were supposed to pump our bags. 392 00:24:44,360 --> 00:24:47,240 And yet it seems like they've been shorting us and they've 393 00:24:47,240 --> 00:24:50,560 been making money on basically making us all poor again. 394 00:24:51,520 --> 00:24:53,000 So we'll see. We'll see. 395 00:24:53,800 --> 00:24:56,920 But Saylor starting to get a little more bullish than we've 396 00:24:56,920 --> 00:24:58,920 seen him in the last couple of weeks. 397 00:25:00,080 --> 00:25:04,280 Crypto winter is over, supply shot coming soon, Stretch is the 398 00:25:04,280 --> 00:25:10,400 best product ever, and bitcoins going to rise. 399 00:25:10,400 --> 00:25:15,680 And all of this is going to be a nice little story that we tell 400 00:25:15,680 --> 00:25:17,560 people in the past. So it's like, remember when we 401 00:25:17,560 --> 00:25:21,600 were buying Bitcoin AT70K and we were all mad, We were all 402 00:25:21,600 --> 00:25:25,360 disillusioned because we had the first Bitcoin president quote 403 00:25:25,360 --> 00:25:27,960 Bitcoin president and nothing happened. 404 00:25:27,960 --> 00:25:32,320 And we went sideways for a year. And then the end of 2026 and 405 00:25:32,320 --> 00:25:36,560 2025, we saw an incredible bull run the likes we've never seen 406 00:25:36,560 --> 00:25:38,120 before. I'm, I'm here for it. 407 00:25:38,800 --> 00:25:42,920 I, I really, I'm, I'm really going to agree with a couple of 408 00:25:42,920 --> 00:25:49,240 my friends when they say that the 2021 and the 2025 bull runs 409 00:25:49,640 --> 00:25:54,560 weren't real bull runs. And now we will see an 410 00:25:54,560 --> 00:25:59,040 incredible bull run. Hopefully it'll bring us back to 411 00:25:59,040 --> 00:26:02,760 the glory days of like 2017. It's what we all want. 412 00:26:02,760 --> 00:26:06,400 That's what we're all here for. We're like junkies waiting for 413 00:26:06,400 --> 00:26:09,440 the price to do what he did in the pack, what it did what, 10 414 00:26:09,440 --> 00:26:11,800 years ago? What a long. 415 00:26:11,800 --> 00:26:15,760 Ride and yet we are still obsessed with Bitcoin. 416 00:26:15,760 --> 00:26:19,040 We are still buying Bitcoin accumulating Bitcoin taking into 417 00:26:19,040 --> 00:26:23,120 self custody doing the Bitcoin first principles because we know 418 00:26:23,120 --> 00:26:25,800 the game and you know shouts out to Simon Dixon. 419 00:26:25,800 --> 00:26:31,040 He's been very strong on this message that if you don't like 420 00:26:31,040 --> 00:26:34,080 these people coming to Bitcoin if you don't like the people 421 00:26:34,080 --> 00:26:38,120 speaking at the Bitcoin conference then literally the 422 00:26:38,120 --> 00:26:41,880 only move you can do is acquire more Bitcoin and take that 423 00:26:41,880 --> 00:26:45,920 Bitcoin into self custody. I know it sounds almost naively. 424 00:26:45,920 --> 00:26:49,600 Easy, but that, that is the game here. 425 00:26:49,880 --> 00:26:51,920 Why they try to financialize Bitcoin? 426 00:26:53,560 --> 00:26:56,800 You just buy spot Bitcoin and take it into self custody. 427 00:26:56,800 --> 00:26:59,800 Or you know, like a lot of the stuff Jack Dorsey was talking 428 00:26:59,800 --> 00:27:02,720 about yesterday. You just use Bitcoin as money. 429 00:27:02,720 --> 00:27:07,080 You work for Bitcoin and you store it in cold storage. 430 00:27:07,680 --> 00:27:11,760 Anyways, I rambled enough. I rambled enough on the supply 431 00:27:11,760 --> 00:27:13,840 shock. I know I'm I'm not checking out 432 00:27:13,840 --> 00:27:17,400 the chat but. Someone does not want Sailor to 433 00:27:17,400 --> 00:27:23,120 be the richest man. Yeah, I agree with that. 434 00:27:23,600 --> 00:27:27,400 Supply shock is already here one Bitcoin is expensive for plebs 435 00:27:27,400 --> 00:27:29,520 already. Honestly, I was saying that this 436 00:27:29,520 --> 00:27:32,760 morning and and side tangent. I, I, I will keep the show 437 00:27:32,760 --> 00:27:38,360 going, but I I literally said the same thing this morning to 438 00:27:38,360 --> 00:27:41,560 Luke. I was like, dude, you know, it 439 00:27:41,560 --> 00:27:46,720 really does feel like us Bitcoiners right now. 440 00:27:46,960 --> 00:27:50,840 And maybe This is why a lot of people are tuning out of 441 00:27:50,840 --> 00:27:53,520 Bitcoin, why they're not as obsessed with Bitcoin, why they 442 00:27:53,520 --> 00:27:57,640 why they don't think it's still the exit that we think it is. 443 00:27:57,920 --> 00:28:00,880 It's because we literally got in the door like right before it 444 00:28:00,880 --> 00:28:03,800 closed. We got in at like 11:30 right 445 00:28:03,800 --> 00:28:05,680 before the clock strikes midnight. 446 00:28:06,360 --> 00:28:09,360 And now we're just kind of waiting and everyone else is 447 00:28:09,360 --> 00:28:11,520 outside the door. And they're like, I don't even 448 00:28:11,520 --> 00:28:13,360 know if I want to buy this. Why would I buy this? 449 00:28:13,360 --> 00:28:17,080 If the institutions are going to control it, centralized, it's, 450 00:28:17,080 --> 00:28:20,320 you know, what are what are all the things they've been saying? 451 00:28:20,520 --> 00:28:24,440 It's been captured. It's not the freedom tool we 452 00:28:24,440 --> 00:28:26,640 thought it was. You know, the government's 453 00:28:26,640 --> 00:28:29,040 embracing it. I thought this was for freedom 454 00:28:29,040 --> 00:28:31,080 and separation of money and state. 455 00:28:32,280 --> 00:28:35,680 But yeah, it does sort of feel like the price has gotten to a 456 00:28:35,680 --> 00:28:37,520 point. Or you might believe in the 457 00:28:37,520 --> 00:28:40,400 Veblen good idea that the higher the price, the more people want 458 00:28:40,400 --> 00:28:42,560 it. But it does feel like a lot of 459 00:28:42,560 --> 00:28:47,240 people have been priced out and now they're looking at Bitcoin 460 00:28:47,240 --> 00:28:49,200 and they're wondering whether they should get in. 461 00:28:49,200 --> 00:28:52,920 But we'll see once the price starts ripping, if we get 462 00:28:52,920 --> 00:28:56,160 another FOMO round like we've seen before. 463 00:28:56,560 --> 00:28:59,040 It's not clothes. People's ego is keeping them 464 00:28:59,040 --> 00:29:01,600 from buying. Yeah, let's say it's an 465 00:29:01,600 --> 00:29:04,280 optimistic take. Optimistic take. 466 00:29:04,280 --> 00:29:08,280 It's simple, but I'm so true. Yeah, agree. 467 00:29:08,280 --> 00:29:10,560 You guys, it's really this simple, but people want to 468 00:29:10,560 --> 00:29:13,120 complicate things. Anyways, let's keep the show 469 00:29:13,120 --> 00:29:15,880 moving. Again, we got an interesting 470 00:29:15,880 --> 00:29:22,720 clip from US Senator Nick Begich and he's reintroducing a bill. 471 00:29:22,720 --> 00:29:26,120 But it's not really so much about the bill that I find most 472 00:29:26,120 --> 00:29:29,440 interesting. It's about not only the rebrand 473 00:29:29,440 --> 00:29:36,120 of they bill. Uh oh, did it knock me off? 474 00:29:38,760 --> 00:29:43,480 No, I think I'm good. But he is starting to emphasize 475 00:29:43,480 --> 00:29:46,640 and we we are seeing this a little bit the, the reemphasis 476 00:29:46,640 --> 00:29:49,840 of self custody and the importance of self custody and 477 00:29:49,840 --> 00:29:52,360 how it's truly an American value. 478 00:29:52,360 --> 00:29:57,000 And then to in the news, I'm going to be covering probably 479 00:29:57,000 --> 00:30:00,880 the most contentious talk that we saw yesterday, which was 480 00:30:00,880 --> 00:30:04,400 Attorney General Todd Blanche and of course, FBI Director Kash 481 00:30:04,400 --> 00:30:06,760 Patel. There's an interesting clip 482 00:30:06,760 --> 00:30:10,680 coming out of it. A lot of people were celebrating 483 00:30:10,680 --> 00:30:18,760 it and then you then there's some probably less favorable 484 00:30:18,760 --> 00:30:21,080 coverage that I want to highlight. 485 00:30:22,200 --> 00:30:24,560 And then to wrap up the show, I'm I'm going to continue the 486 00:30:24,560 --> 00:30:28,000 coverage of where are we currently in the cycle 487 00:30:28,320 --> 00:30:30,600 considering on chain metrics. So that's today's show. 488 00:30:30,720 --> 00:30:32,240 I'll be right back after the commercial break. 489 00:30:34,520 --> 00:30:37,840 Today's episode is brought to you by Bitcoin Well Infinite. 490 00:30:37,960 --> 00:30:40,760 If you're a serious Bitcoin buyer, you've probably hit the 491 00:30:40,760 --> 00:30:43,320 same wall. 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No risk of the plate breaking 516 00:32:05,680 --> 00:32:07,960 apart and pieces falling everywhere. 517 00:32:08,120 --> 00:32:11,600 Titanium stamp seeds will survive nearly triple the heat 518 00:32:11,600 --> 00:32:14,320 produced by a house fire. They're also crush proof, 519 00:32:14,480 --> 00:32:17,360 waterproof, non corrosive. And time proof. 520 00:32:17,560 --> 00:32:21,440 And now you can customize your titanium seed plates. 521 00:32:21,600 --> 00:32:26,080 You can upload your design or logo and they will laser engrave 522 00:32:26,080 --> 00:32:29,520 it on the back of your seed plate, the opposite side of 523 00:32:29,520 --> 00:32:33,160 where the words are. Stamp your seed on stamps and 524 00:32:33,160 --> 00:32:37,960 use promo code simply to get 15% off anything on the 525 00:32:37,960 --> 00:32:47,000 stampseed.com store. You guys are cracking me up in 526 00:32:47,000 --> 00:32:49,720 the chat. I I. 527 00:32:49,720 --> 00:32:52,600 Hopefully I'm back. I I did notice that it did. 528 00:32:52,920 --> 00:32:55,640 I got kicked off for a second low bandwidth, but I should, I 529 00:32:55,640 --> 00:32:58,000 should be back at least it looks like it's back to me. 530 00:32:58,000 --> 00:33:04,320 So anyways, you know, I do the show every single day, guys, and 531 00:33:05,040 --> 00:33:09,400 there's still issues and, and it's not me, OK, It's not me. 532 00:33:10,080 --> 00:33:12,840 Whatever, whatever, you guys don't care. 533 00:33:12,960 --> 00:33:16,520 You guys don't care about me, but it's not it's not my fault, 534 00:33:16,920 --> 00:33:18,120 alright? Anyways, the current Bitcoin 535 00:33:18,120 --> 00:33:23,680 price is 76,000 and $40. I repeat 76040, which is a 536 00:33:23,760 --> 00:33:26,680 discount of 39.7% from all time high. 537 00:33:27,120 --> 00:33:31,440 We have definitely at least up to this point secured that 1 1/2 538 00:33:31,440 --> 00:33:35,240 trillion dollar market cap and the current block height TikTok 539 00:33:35,240 --> 00:33:45,560 next block 947 and 48 I repeat 947048 OK, so as. 540 00:33:46,760 --> 00:33:49,360 This is not a wig, guys. OK, this is not a wig. 541 00:33:52,800 --> 00:33:54,880 Enough about my hair, guys. So you're making me 542 00:33:54,880 --> 00:33:59,120 self-conscious. Anyways, there's a clip of this 543 00:33:59,120 --> 00:34:03,600 was actually if you guys were watching yesterday's show after 544 00:34:03,600 --> 00:34:06,920 the first break, I was like, oh, we got a we got a breaking news 545 00:34:06,920 --> 00:34:09,960 story coming out, but obviously I couldn't package it. 546 00:34:09,960 --> 00:34:11,960 I couldn't couldn't get it uploaded for you guys. 547 00:34:12,159 --> 00:34:13,560 But this is what I was talking about. 548 00:34:13,560 --> 00:34:16,639 It was this clip here of US Congressman Nick Begich. 549 00:34:17,719 --> 00:34:24,159 He's reintroducing his bill, but he's going hard on the 550 00:34:24,199 --> 00:34:28,639 protection of self custody. Your Bitcoin, which personally, 551 00:34:29,000 --> 00:34:33,760 from a hardcore Bitcoin perspective, I'm like, like, 552 00:34:34,080 --> 00:34:37,360 yeah, I know Nico says all the time we need to what do you 553 00:34:37,360 --> 00:34:41,960 always say codify the protection of self custody? 554 00:34:43,719 --> 00:34:49,199 I'm like, bro, I don't need to ask your permission to do what I 555 00:34:49,199 --> 00:34:52,280 can do already. That just seems as backwards to 556 00:34:52,280 --> 00:34:55,960 me, Okay. But I do find it interesting 557 00:34:55,960 --> 00:34:59,040 that we are hearing US Congressman, obviously he's been 558 00:34:59,040 --> 00:35:01,000 orange paled. He's been talking with the 559 00:35:01,000 --> 00:35:03,160 Bitcoin community for a long time now at this point. 560 00:35:03,960 --> 00:35:06,360 And it's just interesting to hear you as congressman. 561 00:35:06,360 --> 00:35:08,800 And again, this could be rhetoric, it could be hot air. 562 00:35:09,120 --> 00:35:13,360 Obviously, I think they know who they're talking to and they want 563 00:35:13,600 --> 00:35:18,800 us to support them. So that I keep that in mind. 564 00:35:19,720 --> 00:35:25,440 But it's still interesting to me to hear, you know, politicians 565 00:35:26,520 --> 00:35:29,640 say stuff, sort of what would be what we've been saying. 566 00:35:29,640 --> 00:35:32,120 I've said on the show a lot of times, you know, Bitcoin is as 567 00:35:32,120 --> 00:35:35,000 American as apple pie. And then everyone's like, well, 568 00:35:35,000 --> 00:35:37,080 isn't apple pie French? I'm like, yeah, whatever. 569 00:35:37,080 --> 00:35:41,600 You know, the meme. I think Bitcoin is truly 570 00:35:43,080 --> 00:35:45,720 exporting the American ideals to the rest of the world. 571 00:35:45,720 --> 00:35:48,360 And maybe that's just because an American and you guys are like 572 00:35:48,360 --> 00:35:49,920 this silly American. Look at it. 573 00:35:50,320 --> 00:35:52,960 Look how he sounds. He thinks America is the 574 00:35:52,960 --> 00:35:55,400 greatest and you know, the Constitution. 575 00:35:55,400 --> 00:35:58,120 So good. Yeah, whatever. 576 00:35:58,160 --> 00:36:01,120 I'm an American. OK, We have our politicians 577 00:36:01,120 --> 00:36:04,320 saying this while on the other side of the pond. 578 00:36:04,320 --> 00:36:05,920 What are your politicians saying? 579 00:36:07,280 --> 00:36:10,240 We want to. We want to have CBD CS. 580 00:36:10,480 --> 00:36:14,200 You can't save your money. Look, I'll take this over that 581 00:36:14,200 --> 00:36:18,480 any single day of the week. So let's watch the clip and we 582 00:36:18,520 --> 00:36:21,480 talked about individuals self custodying, their corporations 583 00:36:21,480 --> 00:36:24,440 self custodying, governments potentially self custodying. 584 00:36:25,240 --> 00:36:28,000 Can you maybe hit on some of those latter points? 585 00:36:29,560 --> 00:36:31,760 Should exchanges and corporations, should they be 586 00:36:31,760 --> 00:36:33,480 self custodying? Is it easier to just give it to 587 00:36:33,480 --> 00:36:35,680 a qualified custodian? Where do you kind of land on 588 00:36:35,680 --> 00:36:37,560 that point? Well, I'll tell you, you know, 589 00:36:38,520 --> 00:36:42,680 history can be quite instructive when looking at the importance 590 00:36:42,920 --> 00:36:47,520 of self custody. If you go back to 1933 and you 591 00:36:47,520 --> 00:36:51,560 had an executive order from the president at that time to 592 00:36:51,600 --> 00:36:57,880 confiscate privately held gold and it was effective. 593 00:36:58,040 --> 00:37:01,040 It was effective because gold at that time was viewed as the 594 00:37:01,080 --> 00:37:03,920 money supply. The government was short of 595 00:37:03,920 --> 00:37:06,880 money supply, wanted to increase its money supply and went out 596 00:37:07,360 --> 00:37:13,680 acquired in my view, illegally this these, these gold assets 597 00:37:13,680 --> 00:37:19,000 from individuals and and then revalued and devalued the dollar 598 00:37:19,000 --> 00:37:22,360 a year later. And it it really impacted people 599 00:37:22,360 --> 00:37:26,280 who had been savers of actual money of hard money at that 600 00:37:26,280 --> 00:37:29,640 time. And I think when we Fast forward 601 00:37:29,640 --> 00:37:32,880 to today, we need to make sure that that doesn't happen again. 602 00:37:33,520 --> 00:37:37,120 And I think it's in the best interest actually of exchanges 603 00:37:37,360 --> 00:37:41,640 to support self custody because it's a lot harder for a 604 00:37:41,640 --> 00:37:46,360 government under pressure to to confiscate millions or maybe 10s 605 00:37:46,360 --> 00:37:50,560 of millions of privately held wallets than it is to go to one 606 00:37:50,560 --> 00:37:55,400 of a dozen, a few dozen places and confiscate a critical asset 607 00:37:55,400 --> 00:37:57,560 like Bitcoin. So I think it's important. 608 00:37:57,560 --> 00:37:58,960 I think it's good for the ecosystem. 609 00:37:58,960 --> 00:38:01,640 I think it's good for everybody to make sure that we have laws 610 00:38:01,880 --> 00:38:05,640 that enshrine the ability to self custody. 611 00:38:05,640 --> 00:38:11,120 And if you don't mind, I did bring from my bill the Bitcoin 612 00:38:11,120 --> 00:38:15,040 Act, which I carry with Senator Lummus in the House, the 613 00:38:15,040 --> 00:38:17,160 language as it relates. To. 614 00:38:17,680 --> 00:38:21,520 Self custody. Affirmation of Rights This act 615 00:38:21,520 --> 00:38:24,560 affirms and protects the rights of persons to maintain full 616 00:38:24,560 --> 00:38:27,880 lawful control over the Bitcoin and other digital assets of 617 00:38:27,880 --> 00:38:31,920 those individuals, recognizing that the ability to maintain 618 00:38:31,920 --> 00:38:36,360 self custody of private keys is fundamental to the principles of 619 00:38:36,360 --> 00:38:40,280 financial sovereignty, privacy and personal liberty in the 620 00:38:40,280 --> 00:38:52,440 digital age. Hey, hey, guys, come on. 621 00:38:54,440 --> 00:38:57,200 Is that not some good rhetoric? Look, I'll, I'll be a little 622 00:38:57,200 --> 00:38:59,880 cynical. Is that not some good rhetoric 623 00:38:59,880 --> 00:39:02,200 there? Man, you got to love that. 624 00:39:02,200 --> 00:39:07,360 I mean, a sitting US Congressman talking about Executive Order 61 625 00:39:07,360 --> 00:39:12,720 O2 1933 when we confiscated the gold from asset holders, 626 00:39:12,720 --> 00:39:15,920 basically saying, hey, it's a lot harder for the government to 627 00:39:15,920 --> 00:39:19,240 take millions of people self custodying their Bitcoin then if 628 00:39:19,240 --> 00:39:22,600 it's all the Bitcoin is basically legally forced to stay 629 00:39:22,600 --> 00:39:28,600 on the exchanges. Like this is the stuff that we 630 00:39:28,600 --> 00:39:31,160 want to be said. Like this is the stuff we want 631 00:39:31,160 --> 00:39:34,680 more people to hear. Say what you want about him 632 00:39:34,680 --> 00:39:39,840 being a politician, but have we not said the same thing on this 633 00:39:39,840 --> 00:39:44,400 show multiple times? That's some signal right there. 634 00:39:44,400 --> 00:39:48,040 OK, Obviously, again, he's at the Bitcoin conference. 635 00:39:48,440 --> 00:39:51,080 He wants to get his bill pushed through. 636 00:39:51,440 --> 00:39:54,280 At this point, a lot of the Bitcoin bills that we've seen 637 00:39:55,320 --> 00:40:00,200 are usually DOA. But you, you got to love to hear 638 00:40:00,200 --> 00:40:02,280 that. I don't know about you guys, but 639 00:40:02,600 --> 00:40:04,280 you know what I was thinking during that clip. 640 00:40:05,160 --> 00:40:08,000 It was Dang, I'm blanking on that cartoon. 641 00:40:08,120 --> 00:40:10,960 The the puppet movie. Yeah, it actually it's just like 642 00:40:10,960 --> 00:40:12,240 America. Fuck yeah. 643 00:40:12,280 --> 00:40:14,040 Like let's go. That's. 644 00:40:14,040 --> 00:40:17,320 What I was thinking throughout the whole clip, Yeah. 645 00:40:17,320 --> 00:40:24,520 Are you not entertained? Like for reals guys, that was 646 00:40:24,520 --> 00:40:25,280 some good. Stuff. 647 00:40:25,280 --> 00:40:31,400 OK, that is the type of rhetoric that I want to hear politicians 648 00:40:31,400 --> 00:40:34,480 saying. Imagine if everyone, all the 649 00:40:34,480 --> 00:40:41,160 congressmen were as orange, pailed and based as this guy, US 650 00:40:41,160 --> 00:40:45,200 Congressman Nick Begich. We'd be in a totally different 651 00:40:45,200 --> 00:40:47,480 world. And that does lead to a kind of 652 00:40:47,480 --> 00:40:50,080 a broader conversation that I brought up on the show multiple 653 00:40:50,080 --> 00:40:56,040 times where I know a lot of us bitcoiners don't like politics. 654 00:40:56,320 --> 00:41:03,680 We've been, how do I put it, pushed out of politics. 655 00:41:03,960 --> 00:41:06,160 You know, people ask me all the time, like, you know, what side 656 00:41:06,160 --> 00:41:07,840 of the aisle are you? What will you know? 657 00:41:08,080 --> 00:41:10,360 Who do you support? And I'm usually, I steal the 658 00:41:10,360 --> 00:41:11,960 line from Eric Case. I'm like, I'm politically 659 00:41:11,960 --> 00:41:15,760 homeless. I see some things maybe from 660 00:41:15,760 --> 00:41:19,840 both sides that are like, OK, I understand it, but none of it 661 00:41:19,840 --> 00:41:23,560 really encapsulates what I believe as a Bitcoiner. 662 00:41:25,560 --> 00:41:28,760 But hearing someone like this say what I believe, it's a 663 00:41:28,760 --> 00:41:33,240 bitcoiner, it's hard for me to not fall for again, being a 664 00:41:33,240 --> 00:41:34,880 little cynical here for the propaganda. 665 00:41:36,040 --> 00:41:39,040 You got to love it, man. Like this is the stuff you want 666 00:41:39,040 --> 00:41:41,400 to see politicians all around the world saying. 667 00:41:42,520 --> 00:41:46,720 This is good stuff here. OK, I'm cynical here. 668 00:41:46,720 --> 00:41:48,600 Yeah, yeah, me too, bro. I know. 669 00:41:48,600 --> 00:41:51,200 I know politicians lie. I know politicians say what they 670 00:41:51,200 --> 00:41:54,160 want the audience to hear. Obviously I know all that. 671 00:41:54,760 --> 00:42:00,160 I'm as cynical and sarcastic as anyone else, but man, that was 672 00:42:00,160 --> 00:42:02,400 some good stuff. OK, It was projection. 673 00:42:02,800 --> 00:42:09,200 You probably probably, man, it was still good, OK. 674 00:42:11,040 --> 00:42:16,120 I guess you have no clue then. OK, all right, I get it. 675 00:42:16,120 --> 00:42:21,360 You guys don't like politics? I have AI, have a very real 676 00:42:21,360 --> 00:42:27,920 distrust for politicians myself. Yeah, yeah, yeah. 677 00:42:28,320 --> 00:42:31,560 Wig party, guys, This is my real hair, OK? 678 00:42:31,600 --> 00:42:35,400 This is my natural hair, OK? I have some luscious locks, all 679 00:42:35,400 --> 00:42:38,960 right. All right, love of my hair. 680 00:42:39,360 --> 00:42:42,120 All right. Now, now we're going to get into 681 00:42:42,240 --> 00:42:45,240 the real meat of the conference. Yesterday. 682 00:42:46,160 --> 00:42:51,640 This was probably the most anticipated speech, at least 683 00:42:51,640 --> 00:42:54,440 from a social media perspective. But actually, this was probably 684 00:42:54,440 --> 00:42:59,200 the most contentious speech that happened yesterday, and I do 685 00:42:59,200 --> 00:43:02,280 have a sound bite for it. I will, you know, breakdown what 686 00:43:02,280 --> 00:43:10,040 he said and I will give you kind of the, I guess the real full 687 00:43:10,040 --> 00:43:13,600 breakdown of of what was said yesterday by Attorney General 688 00:43:13,600 --> 00:43:19,840 Todd Blanche in regards to the speech titled like code is 689 00:43:19,840 --> 00:43:21,480 speech. I think it was I think that was 690 00:43:21,480 --> 00:43:23,840 the title of these this conversation. 691 00:43:24,160 --> 00:43:26,480 And everyone was freaking out heading into this. 692 00:43:26,480 --> 00:43:30,520 Like how do you have the attorney general and the FBI 693 00:43:30,520 --> 00:43:38,600 director talking at the Bitcoin conference and their keynote is 694 00:43:38,600 --> 00:43:45,880 titled CODIS speech when we have open source developers in jail 695 00:43:45,880 --> 00:43:51,120 for this very thing. This, you know, actually it 696 00:43:51,120 --> 00:43:54,120 probably wasn't the most popular speech because I saw some I, I, 697 00:43:54,120 --> 00:43:57,280 I didn't pull them up for you guys, but I did see some more 698 00:43:57,280 --> 00:44:00,360 behind the scenes and, and the. The audience was like completely 699 00:44:00,360 --> 00:44:02,880 empty, so bitcoiners obviously didn't really care. 700 00:44:03,840 --> 00:44:07,160 But this was the most contentious conversation that 701 00:44:07,160 --> 00:44:10,400 was had yesterday, so let's get into it. 702 00:44:12,320 --> 00:44:14,440 I want to give a shout out to our partner, Leadin. 703 00:44:14,480 --> 00:44:17,120 Here's something most Bitcoin holders never figure out until 704 00:44:17,120 --> 00:44:18,800 it's too late. You're sitting on wealth you 705 00:44:18,800 --> 00:44:21,440 can't touch without selling. Leadin fixes that. 706 00:44:21,480 --> 00:44:24,680 Bitcoin back loans. You keep your stack, you get 707 00:44:24,680 --> 00:44:26,960 cash. And they just introduced their 708 00:44:26,960 --> 00:44:30,400 lowest rates ever. 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Get both at Leaden. 722 00:45:14,200 --> 00:45:16,080 I'm going to give a shout out to our partner Bit key. 723 00:45:16,120 --> 00:45:18,600 If you already self custody your Bitcoin, you already know the 724 00:45:18,600 --> 00:45:19,840 deal with hardware wallets by now. 725 00:45:19,880 --> 00:45:22,920 Complex setups, clumsy interfaces and a seed phrase 726 00:45:22,920 --> 00:45:25,240 that can be lost, stolen or forgotten. 727 00:45:25,560 --> 00:45:28,320 Bit key fixes that. Bit key is a multi sig hardware 728 00:45:28,320 --> 00:45:30,920 wallet built by the team behind square and cash app. 729 00:45:31,040 --> 00:45:34,280 It packs a cryptographic recovery system and built in 730 00:45:34,280 --> 00:45:37,760 inheritance feature into intuitive, easy to use wallet 731 00:45:37,760 --> 00:45:39,520 with no seed phrase to sweat over. 732 00:45:39,720 --> 00:45:44,040 It's simple secure self custody without the stress time named 733 00:45:44,400 --> 00:45:48,760 one of the best inventions of 2024, get 20% off at bitkey dot 734 00:45:48,760 --> 00:45:53,320 world. That's BITKEY dot world with the 735 00:45:53,320 --> 00:46:01,160 code simply. OK, guys. 736 00:46:01,360 --> 00:46:04,600 So I'm. Yeah, yeah, yeah. 737 00:46:04,600 --> 00:46:06,760 Johnny go. We have a booth over there, man. 738 00:46:06,840 --> 00:46:12,080 Or actually, I'll, I'll, I'll, I'll I'll update you on, on what 739 00:46:12,080 --> 00:46:13,400 I where I think Miko is right now. 740 00:46:13,400 --> 00:46:17,480 But anyways, as I was saying, probably the most contentious 741 00:46:17,480 --> 00:46:25,080 speech yesterday was the keynote by the US Attorney General, Todd 742 00:46:25,080 --> 00:46:27,680 Blanche and the FBI Director Kash Patel. 743 00:46:29,160 --> 00:46:32,960 And there was an interesting sound bite coming out of this, 744 00:46:34,560 --> 00:46:37,880 and it does seem bullish on the surface. 745 00:46:38,800 --> 00:46:40,680 It did seem like a good sound bite. 746 00:46:41,280 --> 00:46:47,160 Now, obviously, maybe it's because us Bitcoiners are very 747 00:46:47,160 --> 00:46:49,880 cynical, untrustworthy, not what? 748 00:46:49,960 --> 00:46:52,880 We're not untrustworthy. We don't trust the politicians. 749 00:46:54,400 --> 00:47:00,080 A lot of people just out of this is hot air that they're just 750 00:47:00,080 --> 00:47:02,600 saying what they want us to believe or what they want us to 751 00:47:02,600 --> 00:47:05,680 hear. And they're not actually going 752 00:47:05,680 --> 00:47:07,880 to do what they said in this clip. 753 00:47:07,880 --> 00:47:10,920 But let me just play the clip for you guys and then we can 754 00:47:10,960 --> 00:47:14,480 we'll we'll have a little back and forth in the chat as I, you 755 00:47:14,480 --> 00:47:17,120 know, kind of give you my initial reaction to it. 756 00:47:17,120 --> 00:47:21,000 And then from what I saw, a lot of people kind of breaking down 757 00:47:21,160 --> 00:47:24,720 in detail what was said. So here is Attorney General Todd 758 00:47:24,720 --> 00:47:29,400 Blanch in regards to the clip that was going around of they 759 00:47:29,400 --> 00:47:32,880 will no longer prosecute Bitcoin developers. 760 00:47:34,400 --> 00:47:39,680 And with the FBI as well, the basic principle is that if you 761 00:47:39,680 --> 00:47:43,160 are developing software, if you are a coder, if you are part of 762 00:47:43,160 --> 00:47:47,240 that process and you are not the third party user and you are not 763 00:47:47,240 --> 00:47:50,760 helping and knowing the third party is using what you 764 00:47:50,760 --> 00:47:54,880 developed to commit crimes, you are not going to be investigated 765 00:47:54,880 --> 00:47:58,160 and not going to be charged. And obviously facts matter 766 00:47:58,160 --> 00:48:01,440 because if, if, if you're laundering money or violating 767 00:48:01,440 --> 00:48:04,880 sanctions, the mere fact that you happen to be a coder doesn't 768 00:48:04,880 --> 00:48:06,480 excuse you from criminal liability. 769 00:48:06,480 --> 00:48:09,440 So there's a distinction there. And that's why the facts of a 770 00:48:09,440 --> 00:48:11,400 particular case are very important. 771 00:48:11,640 --> 00:48:14,440 But I really need coders to understand, I really need the 772 00:48:14,440 --> 00:48:17,600 industry to understand that we have fundamentally changed the 773 00:48:17,600 --> 00:48:19,520 game when it comes to our investigations. 774 00:48:19,720 --> 00:48:22,200 And if you, if, if you're a coder out there and you're, 775 00:48:22,200 --> 00:48:25,640 you're listening to me speak and you are under investigation or 776 00:48:25,640 --> 00:48:29,480 you have to hire a lawyer to, to respond to subpoenas, you, your 777 00:48:29,480 --> 00:48:32,320 lawyer should feel very comfortable communicating with 778 00:48:32,320 --> 00:48:35,600 the FBI, communicating with the prosecutor on the case and 779 00:48:35,600 --> 00:48:38,640 making sure that they are not violating them, violating my 780 00:48:38,640 --> 00:48:41,120 memo. Because if they are, that can be 781 00:48:41,120 --> 00:48:44,040 elevated all the way to me, but certainly elevated within the 782 00:48:44,040 --> 00:48:46,640 department because we are not doing that anymore. 783 00:48:46,640 --> 00:48:49,760 And, and I know that there's some lingering cases that, that 784 00:48:49,760 --> 00:48:53,840 are very fact specific and, and very procedurally complicated. 785 00:48:53,840 --> 00:48:55,440 And I'm not saying that as an excuse. 786 00:48:55,440 --> 00:48:57,400 It's just, it's a fact. It's the way it is. 787 00:48:57,680 --> 00:49:00,880 But, but those, those cases are, are, are something that that 788 00:49:00,880 --> 00:49:04,160 we're continuing to deal with. But, but make, make, let me make 789 00:49:04,160 --> 00:49:07,280 myself crystal clear that that's, I want to put my money 790 00:49:07,280 --> 00:49:09,720 where my mouth is. And, and I expect director Patel 791 00:49:09,720 --> 00:49:12,080 does as well. And, and when we say that we're 792 00:49:12,080 --> 00:49:15,040 not, we're not conducting those type of prosecutions anymore, 793 00:49:15,440 --> 00:49:18,040 we, we mean it. And and I and I want to make 794 00:49:18,040 --> 00:49:20,360 sure that that that is felt throughout the industry. 795 00:49:22,200 --> 00:49:26,000 OK. So Chad let's, I don't know, 796 00:49:26,000 --> 00:49:29,120 what do we do? One, if you believe him, 2 if 797 00:49:29,120 --> 00:49:31,360 you don't, and and then we'll talk about it. 798 00:49:31,880 --> 00:49:35,520 But as you can see from the beginning of the clip, the main 799 00:49:35,520 --> 00:49:40,960 contention is this idea of you can create open source software, 800 00:49:41,920 --> 00:49:50,640 you can create the software and you won't be legally liable for 801 00:49:50,640 --> 00:49:54,120 anything people do on that. If you don't know, I obviously 802 00:49:54,120 --> 00:49:56,480 I'm butchering that, but that's basically what he said. 803 00:49:56,480 --> 00:50:00,920 As long as you are not aware of what is going on and you're not 804 00:50:00,920 --> 00:50:06,280 actively pushing for money laundering, criminal activity, 805 00:50:06,280 --> 00:50:10,560 avoiding sanctions, then you will not get prosecuted again, 806 00:50:10,840 --> 00:50:13,640 rewind it. You can hear him, but that's, I 807 00:50:13,640 --> 00:50:16,720 guess my layman terms of saying what he said. 808 00:50:18,160 --> 00:50:21,720 And then further, and he did say that they're no longer going to 809 00:50:21,720 --> 00:50:26,080 be prosecuting such cases. But there are some lingering 810 00:50:26,080 --> 00:50:29,800 cases, which as you guys know, we all know basically what those 811 00:50:29,800 --> 00:50:31,360 are. It's the Roman Storm, Tornado 812 00:50:31,360 --> 00:50:34,880 Cash case and of course the Samurai wallet deaths. 813 00:50:35,480 --> 00:50:38,560 And these are the big precedents that we've been covering for a 814 00:50:38,560 --> 00:50:43,360 long time here on the show. And I did see a couple of 815 00:50:43,360 --> 00:50:48,200 updates here. First one I want to cover is by 816 00:50:48,200 --> 00:50:50,400 Eleanor Terrett. Of course, you guys know I'm a 817 00:50:50,400 --> 00:50:53,680 huge fan of her work. She's been doing extremely good 818 00:50:53,680 --> 00:51:03,200 work covering Bitcoin or crypto in America and the Washington, 819 00:51:03,200 --> 00:51:07,200 DC politician's view on Bitcoin and how this is all interacting. 820 00:51:07,440 --> 00:51:09,440 She's been very good coverage on the Clarity Act. 821 00:51:09,880 --> 00:51:12,040 Now, she dropped this tweet yesterday. 822 00:51:12,960 --> 00:51:15,760 So Eleanor goes new. I asked Roman Storm's defense 823 00:51:15,760 --> 00:51:21,600 team if the Attorney General Todd Blanche's comments at the 824 00:51:21,840 --> 00:51:23,800 Bitcoin conference today gave them any hope. 825 00:51:24,480 --> 00:51:30,320 Storm's lawyer, Carrie Curtis Axel, said no, quote, DOJ cannot 826 00:51:30,320 --> 00:51:33,520 credibly claim it has, quote, changed the game while still 827 00:51:33,520 --> 00:51:37,760 persecuting Roman Storm. The president SDNY is trying to 828 00:51:37,760 --> 00:51:41,080 set is wholly at odds with Blanche's memo and the 829 00:51:41,080 --> 00:51:44,240 president's policy. Axel also pushed back on 830 00:51:44,240 --> 00:51:47,480 Blanche's claim that cases can be elevated all the way to the 831 00:51:47,480 --> 00:51:49,680 top. More on that to come. 832 00:51:51,240 --> 00:51:55,640 So this is from one of the big cases that he basically talked 833 00:51:55,640 --> 00:52:01,440 about saying some lingering cases. 834 00:52:01,440 --> 00:52:03,440 And this is what the official response. 835 00:52:03,440 --> 00:52:06,040 Well, I wouldn't say official response, but what a response 836 00:52:06,040 --> 00:52:11,840 from one of the lawyers said. So they're not taking this as 837 00:52:11,840 --> 00:52:14,600 bullish as maybe a lot of people on Twitter were saying. 838 00:52:15,160 --> 00:52:18,000 If you saw this circulating, a lot of people were saying, oh, 839 00:52:18,000 --> 00:52:20,880 Samurai wallet devs are going to be free now because of what he 840 00:52:20,880 --> 00:52:25,840 said. I'm still a tad bit skeptical 841 00:52:25,840 --> 00:52:29,040 here. And going further, there is, you 842 00:52:29,040 --> 00:52:34,880 know, maybe a less faithful reading of this because he did 843 00:52:34,880 --> 00:52:37,840 basically said like, you won't be arrested for coding Bitcoin 844 00:52:37,840 --> 00:52:41,480 privacy tech as long as you don't use it yourself, as long 845 00:52:41,480 --> 00:52:45,960 as not only you don't use it yourself, but as long as you 846 00:52:45,960 --> 00:52:49,600 know that a third party user isn't using it in criminal 847 00:52:49,600 --> 00:52:52,400 activities. And this is where I think the 848 00:52:52,400 --> 00:52:55,040 big contention happened on Twitter. 849 00:52:55,560 --> 00:52:59,280 It is shouts out to low elites from the rage. 850 00:53:00,320 --> 00:53:03,960 I I will. She does get a little spicy 851 00:53:03,960 --> 00:53:06,760 here. I will read this. 852 00:53:06,760 --> 00:53:12,320 With a APG reading here and Lola goes, have you been celebrating 853 00:53:12,320 --> 00:53:14,720 Todd Blanche's comments on developer protection from 854 00:53:14,720 --> 00:53:16,360 yesterday's Bitcoin conference panel? 855 00:53:16,360 --> 00:53:21,400 Congratulations, you are regarded what what Blanche 856 00:53:21,760 --> 00:53:25,120 really announced yesterday that the DOJ continues to seek and 857 00:53:25,120 --> 00:53:28,120 intentionally create the legal circumstances to continue to 858 00:53:28,120 --> 00:53:30,240 prosecute non custodial developers. 859 00:53:30,520 --> 00:53:32,640 How? By making a single important 860 00:53:32,640 --> 00:53:35,640 distinction. Knowingly transmitting a legal 861 00:53:35,640 --> 00:53:38,080 fund will continue to be a crime in the US whether you have 862 00:53:38,080 --> 00:53:41,880 custody of funds or not. This means that anyone sending a 863 00:53:41,880 --> 00:53:45,760 non custodial developer an e-mail message or XDM on 864 00:53:45,760 --> 00:53:48,920 knowledge of illicit use could send you to prison for decades 865 00:53:48,920 --> 00:53:51,680 to come. Worse, even Googling a hack 866 00:53:51,800 --> 00:53:54,080 could be used to construe criminal liability. 867 00:53:54,400 --> 00:53:57,160 How do we know this? Because this is exactly what 868 00:53:57,160 --> 00:53:58,960 they are doing in the Roman Storm case. 869 00:54:00,200 --> 00:54:03,200 Roman storm case. Non custodial developers 870 00:54:03,200 --> 00:54:05,920 transmit funds and thereby knowing of the transmission of 871 00:54:05,920 --> 00:54:09,240 illicit proceeds creates criminal liability for sanctions 872 00:54:09,240 --> 00:54:11,800 evasion, for money laundering, and for money transmissions laws 873 00:54:11,800 --> 00:54:14,120 carrying a total of up to 45 years in prison. 874 00:54:15,120 --> 00:54:18,160 If I were developing non custodial software in the USI 875 00:54:18,160 --> 00:54:21,160 would get out as fast as I can. If I wasn't in the USI would 876 00:54:21,160 --> 00:54:24,360 make sure to not make my software available to US users 877 00:54:24,720 --> 00:54:29,880 and ensure to not do anything at all to give these politicians 878 00:54:29,880 --> 00:54:33,120 jurisdiction. The US is not a safe place for 879 00:54:33,120 --> 00:54:37,320 Bitcoin. So that's the rages read on 880 00:54:37,320 --> 00:54:40,600 this. And first of all, I am a huge 881 00:54:40,600 --> 00:54:44,080 fan of Lola Elites. I usually do defer to a lot of 882 00:54:44,080 --> 00:54:48,400 the things she says because she reads the stuff and she does 883 00:54:48,400 --> 00:54:54,520 have a very hyper focused on the protections of not only privacy, 884 00:54:54,520 --> 00:55:00,640 but of open source developers. So I think this read is probably 885 00:55:01,080 --> 00:55:03,000 what was said. If you are being a little more 886 00:55:03,000 --> 00:55:06,000 cynical on what that sound bite was saying. 887 00:55:06,320 --> 00:55:10,400 Obviously a lot of people are trying to take this as a win and 888 00:55:10,400 --> 00:55:14,760 I I would love for it to be an actual win if we do see here. 889 00:55:15,040 --> 00:55:17,880 I mean, he did say, I want to put my, you know, my money where 890 00:55:17,880 --> 00:55:21,120 my mouth is. So maybe it's not going to be a 891 00:55:21,120 --> 00:55:23,960 lot of hot air. Maybe this isn't just them 892 00:55:24,000 --> 00:55:26,240 trying to appease the crowd, though. 893 00:55:26,240 --> 00:55:28,760 I know that that is the cynical view here. 894 00:55:30,520 --> 00:55:34,400 But as we've seen, I mean, he very clearly basically said as 895 00:55:34,400 --> 00:55:40,120 long as you don't knowingly know that your software is being used 896 00:55:40,120 --> 00:55:49,240 criminally, you won't be liable. So there's still this push for 897 00:55:49,240 --> 00:55:52,000 Bitcoin to be the crypto capital world. 898 00:55:52,000 --> 00:55:55,840 And there's a lot of headlines on this idea that we are in fact 899 00:55:55,880 --> 00:55:57,440 the Bitcoin capital of the world. 900 00:55:57,440 --> 00:55:59,800 And I'm honestly like, I want to believe it. 901 00:56:00,920 --> 00:56:04,840 But as we've covered on this show, when we saw the privacy 902 00:56:04,840 --> 00:56:12,600 wars really coming up coming tough, I think that is when Nico 903 00:56:12,600 --> 00:56:14,600 started crashing out. That's when he got a little more 904 00:56:14,600 --> 00:56:16,480 cynical. I think I've been pretty cynical 905 00:56:16,480 --> 00:56:18,400 in the whole political process since the jump. 906 00:56:19,480 --> 00:56:23,880 So I would like to believe that this is as bullish as everyone's 907 00:56:23,880 --> 00:56:27,840 making it out to be. I do like to have opposing ideas 908 00:56:27,840 --> 00:56:31,080 here. This is why I usually give you 909 00:56:31,080 --> 00:56:33,360 like a bullish take and then I'll give you the cynical take 910 00:56:33,360 --> 00:56:37,600 so that we can, I would argue, have a more balanced nuance take 911 00:56:37,640 --> 00:56:41,440 of what is being said instead of just always completely bullish 912 00:56:41,440 --> 00:56:43,320 about it. But let me see. 913 00:56:43,320 --> 00:56:49,720 Let me see is there? Let me see, did did you guys 914 00:56:49,720 --> 00:56:57,160 throw any ones in there 21.5 cap 21.5. 915 00:57:00,040 --> 00:57:02,160 Dan B. That is the big contention. 916 00:57:02,160 --> 00:57:04,840 Mixers that don't hold fun to any time are protected. 917 00:57:04,840 --> 00:57:12,720 That is basically what the Roman Storm Tornado Cash case and the 918 00:57:13,240 --> 00:57:15,880 Samurai Wallet dev like. That was the big contention. 919 00:57:15,880 --> 00:57:20,640 And as we saw, it really didn't mean much because they basically 920 00:57:20,640 --> 00:57:25,840 made the case that they got some emails, you know, they got some 921 00:57:25,840 --> 00:57:29,560 DMS and some of their marketing was basically saying, hey, come 922 00:57:29,560 --> 00:57:35,000 use our product, even if you're doing stuff that skirts the line 923 00:57:35,000 --> 00:57:38,240 here. That's what made them liable. 924 00:57:38,600 --> 00:57:42,600 And that's why that clip is. So I would say interesting and 925 00:57:42,600 --> 00:57:47,360 maybe contentious because there is a little bit of Gray area 926 00:57:47,360 --> 00:57:51,440 here of what what it means. If what it means to know that 927 00:57:51,600 --> 00:57:56,720 people are using your software for criminal activities. 928 00:57:59,160 --> 00:58:02,760 Pardon those that have been, then I'll vote one yes. 929 00:58:02,760 --> 00:58:05,520 So the US should end the dollar? Because they're aware that is 930 00:58:06,400 --> 00:58:10,720 honestly, that's such a Bitcoin, such a Bitcoin. 931 00:58:10,720 --> 00:58:12,840 Take it easy. Don't communicate with the 932 00:58:12,840 --> 00:58:14,720 users. Yeah, maybe. 933 00:58:15,000 --> 00:58:18,120 Maybe be anonymous. Actually, I forgot to bring this 934 00:58:18,120 --> 00:58:21,120 one up. Let me bring up Giacomo's 935 00:58:22,520 --> 00:58:26,960 response to this, and we'll have one more editor. 936 00:58:28,200 --> 00:58:31,760 How is my Twitter acting up? Is Twitter down for you guys? 937 00:58:34,280 --> 00:58:38,840 Oh, dude, it's it is down. Am I cooked? 938 00:58:42,320 --> 00:58:43,480 Oh, here we go. OK, we're back. 939 00:58:43,520 --> 00:58:45,720 No, dude. Did I save it? 940 00:58:45,720 --> 00:58:47,080 All right, Twitter's not working for me. 941 00:58:47,080 --> 00:58:51,120 Wow, dude, what an L OK, let me see. 942 00:58:51,120 --> 00:58:58,360 Did I save this? Did I put it in my notes? 943 00:59:00,560 --> 00:59:03,960 Dude, Twitter's not working. Oh, did I get banned? 944 00:59:06,080 --> 00:59:14,680 Yo wow, am I banned dude? Am I cooked guys? 945 00:59:15,960 --> 00:59:19,840 Did I just get banned? What is going on? 946 00:59:20,360 --> 00:59:22,360 I didn't even post anything this morning. 947 00:59:25,800 --> 00:59:29,720 Yo. OK, let me. 948 00:59:29,720 --> 00:59:31,000 Let me. OK, We're back. 949 00:59:31,000 --> 00:59:35,520 We're back. Dude, I just thought I got 950 00:59:35,520 --> 00:59:39,720 banned live. What's going on here? 951 00:59:40,480 --> 00:59:41,960 All right, here we go. I found it. 952 00:59:43,440 --> 00:59:49,440 Here's Giacomo's take. You know, hardcore bitcoiner. 953 00:59:51,280 --> 00:59:55,120 And he goes quote if you are coder working on privacy and 954 00:59:55,120 --> 00:59:58,200 freedom tech and you're not sure if we are sending armed goons to 955 00:59:58,200 --> 01:00:00,760 hurt and kidnap you for your. Code, please reach out to us, 956 01:00:01,040 --> 01:00:04,480 tell us who and where you are so that we'll make sure clarifying 957 01:00:04,480 --> 01:00:07,360 whether we are. Stay anonymous, guys. 958 01:00:07,400 --> 01:00:10,320 Use disposable nymphs. If you have to fall for an 959 01:00:10,320 --> 01:00:14,680 obvious trap, at least wait for a less embarrassingly obvious 960 01:00:14,880 --> 01:00:17,320 one. I gotta love it. 961 01:00:17,480 --> 01:00:20,440 Gotta love it. OK, what's going on here? 962 01:00:21,480 --> 01:00:26,520 Let me see. OK, OK, everyone. 963 01:00:26,560 --> 01:00:30,160 OK, it's down for everyone. Too OK that was that was 964 01:00:30,160 --> 01:00:37,840 interesting OK, so let's. Damn, my Twitter's down now. 965 01:00:39,160 --> 01:00:41,960 Well, I'll, we'll, we'll shoot the shit to wrap up today's 966 01:00:41,960 --> 01:00:43,840 show. So last commercial break. 967 01:00:43,840 --> 01:00:47,040 I'll be right back. My my Twitter's down, guys kind 968 01:00:47,040 --> 01:00:49,760 of naked. I want to give a shout out to 969 01:00:49,760 --> 01:00:52,280 our partner Hive Digital Technologies. 970 01:00:52,400 --> 01:00:57,160 Fueled by clean energy, Hive has quadrupled its global Bitcoin 971 01:00:57,160 --> 01:01:01,080 mining footprint and channels that same scale into high 972 01:01:01,080 --> 01:01:05,000 performance compute, where their AI cloud is now ranked number 973 01:01:05,000 --> 01:01:07,640 one in the world for network performance. 974 01:01:07,840 --> 01:01:12,320 At Hive, you've got dual engines, Bitcoin and AI humming, 975 01:01:12,480 --> 01:01:14,600 roaring, accelerating and unison. 976 01:01:14,720 --> 01:01:17,320 They're lean and mean, They're green and clean, and they're 977 01:01:17,320 --> 01:01:20,440 rewriting a playbook on sustainable digital 978 01:01:20,480 --> 01:01:23,560 infrastructure. You can catch the latest buzz at 979 01:01:23,560 --> 01:01:26,800 Hive Digital Tech or at Hive digitaltech.com. 980 01:01:27,480 --> 01:01:30,920 I want to give a shout out to our partnersat123.com 981 01:01:31,120 --> 01:01:33,680 Sovereignty isn't just about your money, it's about your 982 01:01:33,680 --> 01:01:36,720 communications too. When the grid goes down, most 983 01:01:36,720 --> 01:01:39,120 people go dark. Cell towers fail, and 984 01:01:39,120 --> 01:01:42,280 hurricanes, cyber attacks and blackouts the satellite phones. 985 01:01:42,320 --> 01:01:44,040 They don't rely on local infrastructure. 986 01:01:44,160 --> 01:01:48,280 Iridium has 77 satellites in orbit giving you a Direct Line. 987 01:01:48,360 --> 01:01:50,640 Fine anywhere in the US, even offshore. 988 01:01:50,720 --> 01:01:53,760 If you hold your own Bitcoin keys, you should hold your own. 989 01:01:53,760 --> 01:01:58,280 commstoosat123.com also has everything you need to start 990 01:01:58,280 --> 01:02:02,440 building your Bitcoin Citadel, Starling, battery backups, Verde 991 01:02:02,440 --> 01:02:05,600 bags to protect your hardware wallets, and much much more. 992 01:02:05,680 --> 01:02:09,720 It's a one stop shop for anyone serious about resilience and off 993 01:02:09,720 --> 01:02:12,040 grid independence. Stay connected, stay 994 01:02:12,040 --> 01:02:16,960 independent, stay soft. Go to sat123.com/simply today 995 01:02:17,160 --> 01:02:19,720 and use promo codes. Simply to get 15. 996 01:02:19,760 --> 01:02:21,520 Percent off anything on the store. 997 01:02:27,000 --> 01:02:30,040 Yeah, hold on, hold on. The the rumble chat. 998 01:02:30,040 --> 01:02:33,520 Rumble chat. Who is this mind of Elijah X 999 01:02:33,520 --> 01:02:39,400 goes down show ends law. Getting banned on Twitter is a 1000 01:02:39,440 --> 01:02:41,920 rite of passage. No, well, I'm not banned. 1001 01:02:43,480 --> 01:02:46,400 I'm a I'm a good shit poster. OK, I just. 1002 01:02:46,880 --> 01:02:48,520 I don't say anything crazy, all right? 1003 01:02:48,520 --> 01:02:52,360 Anyways, someone was asking, I forgive me, I forget who it was 1004 01:02:52,360 --> 01:02:54,520 a minute ago. They're going to meet Nico. 1005 01:02:54,520 --> 01:02:58,560 Well, check out Nico. Apparently he's racing some cars 1006 01:02:58,560 --> 01:03:00,480 right now. Here I am in the dungeon, 1007 01:03:00,480 --> 01:03:05,320 sweating. I'm doing work here, and Nico 1008 01:03:05,320 --> 01:03:08,240 gets to go race freaking supercars. 1009 01:03:10,480 --> 01:03:15,840 Guys, it's not even fair anymore. 1010 01:03:18,040 --> 01:03:20,120 No, I'm trolling. I'm trolling. 1011 01:03:20,640 --> 01:03:23,120 It's all good. It's all good. 1012 01:03:23,120 --> 01:03:25,080 But yeah. Nico will be at the conference. 1013 01:03:26,000 --> 01:03:29,280 We do have a booth, bro. So there's a booth. 1014 01:03:29,280 --> 01:03:32,960 I don't know where it is. I obviously I'm not there, but 1015 01:03:32,960 --> 01:03:35,880 there's a booth there. We got the signs, you know, go 1016 01:03:35,880 --> 01:03:37,840 there. I know we have some of our team 1017 01:03:37,840 --> 01:03:41,960 there. Unfortunately, I'm not there, 1018 01:03:42,560 --> 01:03:44,600 so, you know, going to miss out on me. 1019 01:03:44,600 --> 01:03:47,960 But Nico should be back. I'm sure he'll be back at the 1020 01:03:47,960 --> 01:03:50,480 conference later on today. I don't know when he's doing his 1021 01:03:50,480 --> 01:03:53,360 keynote stuff. I think he had one yesterday. 1022 01:03:53,360 --> 01:03:58,240 I don't know if he has any more appearances today, but he'll be 1023 01:03:58,240 --> 01:03:59,240 around. They're around. 1024 01:03:59,240 --> 01:04:03,960 So, you know, go check him out. Anyways, let me see, is my 1025 01:04:03,960 --> 01:04:06,040 Twitter working? Yeah. 1026 01:04:06,040 --> 01:04:09,280 OK. This is kind of what I want to 1027 01:04:09,280 --> 01:04:11,600 talk about because I was covering this yesterday and I, 1028 01:04:11,600 --> 01:04:14,800 and I really love Andre's coverage here. 1029 01:04:14,880 --> 01:04:18,280 Obviously he works at Bitwise, he's got the data to back it up, 1030 01:04:18,760 --> 01:04:22,440 but this is kind of what we're seeing right now. 1031 01:04:22,440 --> 01:04:26,360 This is the general sentiment, I think from people that aren't 1032 01:04:26,360 --> 01:04:29,080 biased. And by the biased, I mean that 1033 01:04:29,080 --> 01:04:33,720 we're going to be seeing a prolonged bear market until 1034 01:04:33,720 --> 01:04:36,440 October or, you know, Q3 of this year. 1035 01:04:38,400 --> 01:04:43,840 Everyone's kind of watching the 82801K range right here and I 1036 01:04:43,840 --> 01:04:48,520 know you guys don't really like the Opti Tai know actually some 1037 01:04:48,520 --> 01:04:50,360 of you guys do, some of you guys do like it. 1038 01:04:50,360 --> 01:04:56,880 But I think this is this is just to give us a framework for where 1039 01:04:56,880 --> 01:05:01,040 we currently are right now. And it's really going back to 1040 01:05:01,040 --> 01:05:05,440 the idea of should you be smashed buying right now? 1041 01:05:06,000 --> 01:05:09,080 Should you be waiting for a dip? Wait for the Bitcoin conference 1042 01:05:09,080 --> 01:05:11,560 dip to. Finally end and then maybe we'll 1043 01:05:11,560 --> 01:05:13,920 get a little more price action to the upside. 1044 01:05:14,360 --> 01:05:18,080 But here is the breakdown. The real question for everyone, 1045 01:05:18,080 --> 01:05:24,640 of course, isn't whether Bitcoin is going to return into a new 1046 01:05:24,640 --> 01:05:27,760 bull market. It's at what price point does 1047 01:05:27,760 --> 01:05:31,440 that psychology flip? I don't think anyone here, at 1048 01:05:31,440 --> 01:05:35,080 least if you've been around for a while, has any doubt that 1049 01:05:35,080 --> 01:05:37,240 we're going to go into another bull market. 1050 01:05:37,320 --> 01:05:40,200 We've been around long enough. We know how this plays out. 1051 01:05:43,280 --> 01:05:46,040 Bitcoin. 'S not going to 0A bull market's 1052 01:05:46,040 --> 01:05:48,640 coming back. It's not a if, it's just when. 1053 01:05:49,360 --> 01:05:51,520 When are we going to see that psychological shift? 1054 01:05:51,520 --> 01:05:54,960 When are we going to see the FOMO start to come back, the 1055 01:05:54,960 --> 01:05:56,560 price start to get a little frothy. 1056 01:05:57,400 --> 01:06:00,840 And here's probably the best breakdown, at least maybe this 1057 01:06:00,840 --> 01:06:03,280 is the best breakdown to me 'cause it's confirming my bias. 1058 01:06:03,280 --> 01:06:06,040 And you guys know I I only trust the science when it confirms my 1059 01:06:06,040 --> 01:06:08,840 bias. So right now the market is 1060 01:06:08,840 --> 01:06:13,360 staring at a massive confluence of cost bases between 80 and 81 1061 01:06:13,360 --> 01:06:15,720 K. Our latest status shows that the 1062 01:06:15,720 --> 01:06:18,960 true market mean the short term holder cost bases and the US 1063 01:06:18,960 --> 01:06:23,400 spot ETF cost bases are all clustering at this exact level 1064 01:06:23,400 --> 01:06:27,080 of 82801K. This isn't just a random number, 1065 01:06:27,080 --> 01:06:31,720 it is the demarcation line. This 801K level is a significant 1066 01:06:31,720 --> 01:06:35,600 technical indicator in our on chain models as it could 1067 01:06:35,600 --> 01:06:38,240 represent the shift from a period of aggregate market 1068 01:06:38,240 --> 01:06:41,280 stress to one of broad based profitability. 1069 01:06:41,880 --> 01:06:45,840 Until we reclaim this level, we remain in a late stage bare 1070 01:06:45,840 --> 01:06:50,800 phase defined by seller exhaustion, which is what we 1071 01:06:50,800 --> 01:06:53,240 were covering the other day. And here. 1072 01:06:53,240 --> 01:06:56,200 Let me let me zoom in here on this chart Bitcoin momentum 1073 01:06:56,200 --> 01:07:00,240 levels, Bitcoin price true market mean I'm. 1074 01:07:00,240 --> 01:07:03,640 I'm color blind, so I. Can't really tell which lines 1075 01:07:03,760 --> 01:07:08,440 which guys, sorry but ADK. Oh, here we go, ADK. 1076 01:07:08,440 --> 01:07:12,280 Line, that's what we're all watching here, guys, OK? 1077 01:07:12,560 --> 01:07:15,880 Which? Is what I've been saying and now 1078 01:07:15,880 --> 01:07:21,200 I have the data, the on chain metrics and the cost basis for 1079 01:07:21,200 --> 01:07:25,400 what, What do you say again, cost basis for the ETF and the 1080 01:07:25,400 --> 01:07:29,800 short term holder and the true market mean? 1081 01:07:30,400 --> 01:07:35,200 80K to 801K. Obviously, we got the classic 1082 01:07:35,840 --> 01:07:37,760 every year Bitcoin conference dump. 1083 01:07:37,800 --> 01:07:41,880 It's roughly down 5%. Let's see, are we dumping more? 1084 01:07:42,480 --> 01:07:44,760 We've been dumping more every time I do a show now. 1085 01:07:46,800 --> 01:07:54,000 We are currently at 76 one. It's not that bad so. 1086 01:07:54,680 --> 01:08:01,120 The real number that we're probably all watching is that 80 1087 01:08:01,120 --> 01:08:04,960 to 80. 1K which is to say. Another way, if we breakthrough 1088 01:08:04,960 --> 01:08:10,760 the 81 Ki think it's pretty safe to say that we're not going to 1089 01:08:10,760 --> 01:08:13,160 be in a bear market until October. 1090 01:08:14,600 --> 01:08:16,640 I mean, who knows, maybe there's one more dip in US. 1091 01:08:16,760 --> 01:08:20,040 Maybe we got a, maybe you. Got one more chance to get some 1092 01:08:20,040 --> 01:08:30,800 cheap sets before. The game starts to have some 1093 01:08:30,800 --> 01:08:36,359 fun. You guys are funny. 1094 01:08:37,720 --> 01:08:39,279 Let's see. Let's see. 1095 01:08:39,279 --> 01:08:42,640 He's schmoozing Opticos. Nico's right? 1096 01:08:42,640 --> 01:08:45,359 No, dude. Nico's my handler, bro. 1097 01:08:45,359 --> 01:08:47,240 You got it mixed up. I did get rugged. 1098 01:08:48,520 --> 01:08:54,200 You always have Matchbox Optic. Yeah, dude, I I get Hot Wheels, 1099 01:08:54,200 --> 01:08:55,600 bro. Daddy. 1100 01:08:55,600 --> 01:08:58,720 Oh, thank you. For the Super chat to $5. 1101 01:08:58,720 --> 01:09:01,040 Since you got left behind. Appreciate it man. 1102 01:09:03,200 --> 01:09:05,880 Oh, Misfit, Thank you. Man, I appreciate. 1103 01:09:05,880 --> 01:09:07,640 That I don't. I don't know. 1104 01:09:07,880 --> 01:09:12,560 I don't know about that. I will. 1105 01:09:12,560 --> 01:09:15,160 Say that we do have a lot of fun here. 1106 01:09:17,319 --> 01:09:18,399 You know what? You know, I, I. 1107 01:09:18,439 --> 01:09:19,760 Was actually thinking about this. 1108 01:09:21,880 --> 01:09:26,439 You know why I think you guys really enjoy the. 1109 01:09:26,439 --> 01:09:30,120 Opti Show. The Simply Opti shows and this 1110 01:09:30,120 --> 01:09:33,680 is not to pat myself on the back 'cause I cause I've really been 1111 01:09:33,680 --> 01:09:39,359 thinking about this is if you've ever met me in person, I'm like, 1112 01:09:39,359 --> 01:09:41,080 I'm literally the same guy that I am on the. 1113 01:09:41,080 --> 01:09:43,279 Show, obviously. I, I probably have to tone it 1114 01:09:43,279 --> 01:09:49,240 down a little bit on the live show, but this is me like I, I 1115 01:09:49,240 --> 01:09:52,160 tell you exactly what I think. Obviously I got to tone it down 1116 01:09:52,160 --> 01:09:56,240 a little bit, but I, I think, I think. 1117 01:09:56,240 --> 01:09:58,880 Part of. What has connected you guys with 1118 01:09:58,880 --> 01:10:03,920 me on this show is there is a a sense of. 1119 01:10:03,920 --> 01:10:06,480 Authenticity here like I, I. This is me. 1120 01:10:06,760 --> 01:10:09,720 If you talk to me in person, I'm the same way on and off the 1121 01:10:09,720 --> 01:10:11,480 show. Again, I'm probably a little 1122 01:10:11,480 --> 01:10:13,400 more extreme off the show because it's like, hey, we're in 1123 01:10:13,400 --> 01:10:15,520 person. There's no cameras. 1124 01:10:15,760 --> 01:10:17,480 You know, we we can have a little fun here. 1125 01:10:17,480 --> 01:10:20,720 We're, we're, we're in IRL, you know, life's let's. 1126 01:10:20,720 --> 01:10:24,600 Let's have a little fun but. I appreciate it Misfit Droid I I 1127 01:10:24,600 --> 01:10:26,880 really do appreciate it. Let's see episode. 1128 01:10:32,840 --> 01:10:36,040 I I don't get this episode 1492 talking. 1129 01:10:36,040 --> 01:10:38,480 About a supply shock that will usher in a new world. 1130 01:10:42,000 --> 01:10:49,480 I don't know man, it's 1492. Oh wait, are you talking about 1131 01:10:49,480 --> 01:10:50,920 the? Year 1492. 1132 01:10:55,600 --> 01:11:02,960 Hey, hey, let's go. Yo, you're funny anyways guys. 1133 01:11:05,560 --> 01:11:08,280 I do have to. Give you 1 update here on. 1134 01:11:08,280 --> 01:11:14,840 The show I told you guys yesterday, tomorrow might. 1135 01:11:14,840 --> 01:11:16,880 Be a little weird again. They are. 1136 01:11:16,880 --> 01:11:20,520 Redoing the roof here on the studio, there hasn't been that 1137 01:11:20,520 --> 01:11:23,040 much noise. I'd I'm I'm really hoping that 1138 01:11:23,160 --> 01:11:26,800 the noise that I am hearing isn't picked up on the mic, but 1139 01:11:26,800 --> 01:11:31,000 tomorrow I might have to stream from my apartment. 1140 01:11:31,000 --> 01:11:34,240 I'm still unsure if it's going to be a little too chaotic in 1141 01:11:34,240 --> 01:11:35,800 here. The first two days have seemed 1142 01:11:35,800 --> 01:11:40,960 pretty chill, so tomorrow it might not be the fancy studio. 1143 01:11:41,440 --> 01:11:45,200 I might have to do the first stream since we got the studio 1144 01:11:45,200 --> 01:11:49,640 from just the home apt. I will be bringing some of the 1145 01:11:49,640 --> 01:11:54,280 gear home tonight. I will come into studio tomorrow 1146 01:11:54,280 --> 01:11:55,480 so. I'm going to attempt. 1147 01:11:55,600 --> 01:12:00,160 To make sure that I'm streaming from the studio tomorrow, but if 1148 01:12:00,160 --> 01:12:02,960 for whatever reason it's a little too loud in here or there 1149 01:12:02,960 --> 01:12:07,400 might be fumes in here. If I don't, you know, if I can 1150 01:12:07,400 --> 01:12:12,760 actually stream from here tomorrow, I will we. 1151 01:12:12,760 --> 01:12:14,520 Are going to have a show tomorrow. 1152 01:12:15,120 --> 01:12:18,160 Obviously this is the second day of the Bitcoin conference. 1153 01:12:18,520 --> 01:12:21,240 I will give you all the highlights that I find to be the 1154 01:12:21,240 --> 01:12:24,960 biggest signal coming out of the conference and we'll talk about 1155 01:12:24,960 --> 01:12:29,120 that tomorrow, but I'm I'm going to need you guys to. 1156 01:12:29,120 --> 01:12:32,120 Be a little. Lenient on me because I might 1157 01:12:32,120 --> 01:12:34,680 not be able to stream from the studio tomorrow. 1158 01:12:35,320 --> 01:12:40,200 I might have to stream from from my apartment and it's it's not 1159 01:12:40,200 --> 01:12:41,200 as nice as this. I don't. 1160 01:12:41,200 --> 01:12:42,880 I don't have. AI don't have a set. 1161 01:12:42,880 --> 01:12:45,840 Up for streaming in my apartment, 'cause I come here to 1162 01:12:45,840 --> 01:12:51,320 stream every single day. OK, so I got that head. 1163 01:12:51,320 --> 01:12:53,640 She goes, yeah. Yeah, yeah. 1164 01:12:53,800 --> 01:12:59,160 So anyways, yeah, I'm from the fumes, you know, I said the. 1165 01:12:59,160 --> 01:13:01,120 Same thing. And then Sophie's like. 1166 01:13:01,120 --> 01:13:03,000 Yeah, I don't, I don't know if they're going to be that those 1167 01:13:03,000 --> 01:13:03,800 type of. Fumes, bro. 1168 01:13:03,800 --> 01:13:07,240 It might be the type that's going to kill you, so I don't 1169 01:13:07,240 --> 01:13:08,440 know. I'm going to come into the 1170 01:13:08,440 --> 01:13:09,280 studio. Tomorrow. 1171 01:13:09,880 --> 01:13:15,480 We're going to have a show I just might have to stream from 1172 01:13:15,480 --> 01:13:17,360 my apartment because it it might. 1173 01:13:17,360 --> 01:13:18,440 Be a little too chaotic. Here. 1174 01:13:18,440 --> 01:13:23,400 So that's the only update. Maybe honestly, maybe I'll maybe 1175 01:13:23,400 --> 01:13:25,720 I'll be able to stream tomorrow. I'm just saying might be a 1176 01:13:25,720 --> 01:13:29,440 little different tomorrow, but I am so expect a later show. 1177 01:13:30,760 --> 01:13:34,320 Maybe. Maybe stream from the bar. 1178 01:13:34,320 --> 01:13:35,920 Yeah, that'd be lit. That'd be lit. 1179 01:13:37,920 --> 01:13:40,120 All right, anyways, I. Appreciate you guys. 1180 01:13:40,120 --> 01:13:43,320 I love you guys. I'll see you tomorrow same thing 1181 01:13:43,320 --> 01:13:45,440 we're going to give you the biggest highlights coming from 1182 01:13:45,440 --> 01:13:47,480 the Bitcoin conference, so you guys don't have to watch the 1183 01:13:47,480 --> 01:13:52,600 whole 9 hours if you don't want to and if there's any other 1184 01:13:52,600 --> 01:13:56,520 breaking news, I'm I'm I'm not just going to cover stuff from 1185 01:13:56,520 --> 01:13:58,040 the conference if there's. Some other big. 1186 01:13:58,040 --> 01:14:00,640 News. But it seems like all the big 1187 01:14:00,640 --> 01:14:01,920 news is coming out of the conference. 1188 01:14:01,920 --> 01:14:04,400 So we'll be getting all the sound bites, we'll be getting 1189 01:14:04,400 --> 01:14:08,840 the news stories, but it might not be in the studio tomorrow. 1190 01:14:08,840 --> 01:14:10,480 That's all. I'm saying, all right, on that 1191 01:14:10,480 --> 01:14:12,800 note, guys, I appreciate you guys. 1192 01:14:12,800 --> 01:14:15,800 I love you. Thank you for all the support. 1193 01:14:16,840 --> 01:14:19,240 Honestly, it means the world to us means the world. 1194 01:14:19,240 --> 01:14:21,640 To me. And you already know the deal. 1195 01:14:22,960 --> 01:14:25,000 Make sure you. Get a workout in you, eat some 1196 01:14:25,000 --> 01:14:30,040 good food, get some sun on your eyes in The Morning, Call your 1197 01:14:30,040 --> 01:14:36,440 loved ones, cut some grass. But most importantly, make sure 1198 01:14:36,680 --> 01:14:40,200 you are buying some Bitcoin, because if you're leaving SAT on 1199 01:14:40,200 --> 01:14:44,760 the table right now, Wall Street's picking. 1200 01:14:44,760 --> 01:14:48,440 Them up if you don't like what you're seeing with the. 1201 01:14:48,440 --> 01:14:53,440 Institutionalization of Bitcoin. Then you need to be stacking SAT 1202 01:14:53,440 --> 01:14:59,080 and taking it into self custody. On that note, Boys stream at 1203 01:14:59,080 --> 01:14:59,800 the. Barbershop. 1204 01:15:01,640 --> 01:15:04,280 Hey, hey, hey, my. Apartment isn't that. 1205 01:15:04,280 --> 01:15:11,160 Messy right now, OK. All right, later, guys. 1206 01:15:11,160 --> 01:15:13,200 I'll see you tomorrow. Have a good rest of your day. 1207 01:15:15,080 --> 01:15:18,240 It's been SP live. I should stream at our normal. 1208 01:15:18,240 --> 01:15:20,240 Time tomorrow at 12:40. And. 1209 01:15:20,240 --> 01:15:22,200 Actually, I do want to say one last thing before I shut up. 1210 01:15:22,560 --> 01:15:26,080 I know you guys yell at me about putting the show up at 12:16 1211 01:15:26,080 --> 01:15:30,320 every morning, but I don't just put up the stream. 1212 01:15:30,320 --> 01:15:32,880 And then I I sit around. For 30 minutes waiting. 1213 01:15:32,880 --> 01:15:37,160 I'm literally working up until I go live making sure I got 1214 01:15:37,160 --> 01:15:41,360 everything for you guys, got the research, got my, you know, my 1215 01:15:41,360 --> 01:15:47,120 rants percolating in my head, so I should be live. 1216 01:15:47,120 --> 01:15:51,040 Tomorrow at 12:40, but if not. I'm just, you know. 1217 01:15:52,200 --> 01:15:54,480 I'm working. Up to the buzzer beater. 1218 01:15:54,840 --> 01:15:58,760 All right, guys, peace out. Today's episode was brought to 1219 01:15:58,760 --> 01:16:02,320 you by bitcoinwell.com. A Bitcoin only platform on a 1220 01:16:02,320 --> 01:16:04,680 mission to enable financial independence.