Michael Saylor has been buying thousands of Bitcoin per day.
And yesterday, on stage at the biggest Bitcoin conference in
the world, he told us what the long-awaited supply shock will
look like in 2026. And if Michael Saylor's even
directionally correct, I don't think anybody is prepared for
the rally we're going to see towards the year end of 2026.
We have a ton of news coming out of the conference that I will
break down for you today. But before we get to that, let's
start with the first Michael Saylor clip.
Here we go. Just curious in terms of what
your thoughts are, what's next? What should we be excited about
closing out this year of 2026? Well, I think bitcoins going to
rally. I, I, I think there's a lot of
capital flowing into Bitcoin right now.
And at the rate that digital credit is forming and at the
rate you saw our buy this morning, we bought the entire
supply last week. Then Strive announced a massive
buy. Then there's a massive bank
credit coming online. All the big banks, JP Morgan
City, Schwab, Morgan Stanley, Barclays, they're all coming
online. So I think the formation of
you're talking about between 20 and $100 billion worth of credit
formation in the next 12 months. And there's only $10 billion of
Bitcoin naturally available for sale.
So I think that we're setting up a massive supply shock.
There ought to be a rally in in BTCI, think that'll catalyse a
rally and all the Bitcoin treasury companies, I think it
will cause a rally and demand for digital credit.
I think there'll be a rally in bank credit.
I think, I think the Clarity Act will go through and there'll be
a lot of very constructive guidance from the CFTC, Treasury
and and the SECI think that that will accelerate digital assets
innovation. Guys, I, I obviously you know
me, I, I guess don't have the best memory, but if I'm not
mistaken, this feels like the first time sailors said supply
shock, or at the very least he's only said it a couple of times.
And I know a lot of us Bitcoiners have been saying
this, but I think This is why this clip hit so hard because
it's not just me and our boy Luke saying supply shock every
week. It's Sailor with his vantage
point, which is one of the things I've been telling you
guys in regards to the amount of capital going into stretch or
the amount of capital that Sailor is being able to attract
with his new Bitcoin products. Now, one of the interesting
numbers in there that I I actually had to think about a
little bit is what he said about there's only 10 billion of
naturally, you know, natural supply of Bitcoin.
And at first I was thinking maybe he's talking about the
Bitcoin on exchanges, but I think what he's talking about is
what he mentioned in the beginning of the clip that
they're buying up all the mine, you know, the Bitcoin left to
mine supply, which would roughly be around 12 billion a year, at
least at current prices. So I think what he's saying is,
hey, look, me myself with Stretch, with the amount of
interest going into stretch, we're buying up literally all of
the newly supply, newly mined supply of Bitcoin.
And that doesn't even account for everything else that we're
seeing. Obviously, I covered it for you
guys yesterday Strive announced a he, he called it significant
by maybe in comparison to what we saw from Sailor, it was
didn't feel that significant. But again, there's multiple
players, multiple factors playing out right now that
wanted to acquire a lot of Bitcoin And that doesn't even
account for what we're seeing from the institutional interest,
which as Sailor laid out seems to be accelerating.
So all of this is playing out with almost like little to no,
how do I say it, like attention coming into Bitcoin right now,
the majority of people are still sleeping on Bitcoin.
I will be covering later on in the show what levels people are
probably watching right now, at least from an institutional
perspective, what we're all kind of watching to wrap our heads
around whether we are making it out of a bear market, where
we're whether we're at the end of a bear market, where, where
do we currently stand right now? But as you can hear, Sailor is
extremely bullish. Now obviously you guys joke all
the time. We are simply Sailor here at
this show because he's been the biggest proponent for Bitcoin
for the last couple of years. And in I think a further clip or
maybe actually it was in in the beginning of this clip and I and
I cut it out. He basically said that in the
last 12 months or the last six months I believe it was, he's
seen more innovation than in the first five years that he's been
in Bitcoin. As you can see, there's a lot of
factors accelerating right now that are making everyone feel
extremely bullish. Obviously we've had a lot of
really good news stories. We have a generally positive
administration around Bitcoin and I will cover some of the
stuff you know that we heard out of the Bitcoin conference which
were a little more contentious. But we are starting to see that
everything is kind of building in our direction right now.
And if we continue to see the amount of interest going into
stretch like I've been covering, they've been able to acquire
about a billion dollars a week. And I will update that for you
guys in a minute. Things are heating up.
And I saw you guys in the beginning of the show being or
rather saying something on the lines of I've been hearing about
the supply shock forever. I think we've all been hearing
about it. And maybe in true Bitcoin or
fashion, we've all been a little bit early on whether this is
happening. Now, I did see some people say
like it's not going to happen this cycle is going to happen
next cycle. But it does feel as if the
institutional interest coming into Bitcoin, the institutional
products, the amount of, I don't want to say regulatory clarity,
but the amount of factors playing into the Bitcoin bull
run that is probably ahead of us in 2027.
It does seem as though we are all probably a little little
bearish on what we think the next cycle is.
A lot of people have this impression.
I think I was covering it yesterday or maybe it was the
end of the last week. We all have this impression that
since Bitcoin is a 1 1/2 trillion dollar asset, the
higher it goes, the harder it is for it to go even higher.
But that's if you really account for a steady influx of capital
coming into Bitcoin. What we're seeing is that the
influx of capital is accelerating.
It is going higher because of what Sailor did.
Now, obviously Sailor himself isn't going to be the sole
person to drive the Bitcoin price up.
But once it starts turning around, once people start
feeling a little comfortable, whether it's the macro
landscape, whether it's the price of Bitcoin going up and
people start to FOMO into it, all of these factors are really
going to magnify and crash into a hard cap, limited supply.
Again, thinking about that $10 billion number, he said anywhere
between 20 and $100 billion of capital is going to be fighting
for about $10 billion of Bitcoin.
So A2 to 10X influx of capital fighting for the daily mind
supply of Bitcoin. Obviously, there is this
contention or this idea of what two and a half million Bitcoin
on exchanges. You know what, how do we really
factor this in because a lot of people will just bring more
Bitcoin when they want to sell and there's even a kind of
concern about that two and a half million.
Is it really off the exchange? Are they factoring in the
strategy holdings? Can we really trust that
Coinbase isn't rehypothecating etcetera, etcetera, etcetera.
But what we are seeing is that we as an industry, as a
phenomenon have grown way bigger than we ever have in every other
cycle. And maybe we are waiting for a
fabled supply shock. But again, I don't think I've
ever heard sailors say supply shock in any clip sound by
interview. You guys can correct me and I
and I could be wrong on this, but I think this is the first
time he said this. Maybe he's been listening to a
little bit of Samson Mao here. But this does seem to be a hot
take because we've all been saying supply shock.
I've seen you guys yell at me in the chat being like, oh, here we
go. Supply shock.
Is the supply shock in the room with us?
Not yet, but it seems like all the factors are leading into the
fable, the mythical supply shock actually playing out in 2026.
So it's going to be interesting to see this happen.
Now there is another clip that I want to add here and it is the
same speech, but it's Saylor talking about the quote digital
credit. Now, obviously we are hardcore
self custody maxies, but it does seem like the digital credit
quote UN quote meme is catching on.
It does seem like there is a real interest in digital credit,
which is being led by Saylor and the Stretch or STRC product.
And that does seem to be bringing in a whole new audience
or a whole new demand from a totally different market that
Bitcoin wasn't able to attract. So this clip, just in addition
to what he just said, is really playing out through the idea
that maybe the supply shock is starting to enter the room.
Let's let's watch this clip. So I, I don't think there's any
question digital credits going to work.
There's 3/3 and 1/2 trillion dollars in private credit right
now and that 3 1/2 trillion is getting 8 1/2 percent, 9% yields
is totally a liquid. And if even 1 or 2% of it flows
into digital credit, this will be an explosion.
I don't know why you wouldn't have 10% of it, $370 billion
just coming out of private credit flowing into digital
credit. It's all illiquid, opaque under
collateralized unrated stuff. So digital credit, if it if it
got even 1 or 2% of the junk bond market, the private credit
market, you know, or, or other sorts of exotic credit, it would
be exploding. In fact, if you look right now
at STRCSTRC is the largest preferred equity in the world
and it is the most liquid preferred equity in the world
and the fastest growing, maybe one of the fastest growing, you
know, financial products in the world all in the first eight
months. And that's without any of this
happening. So I think that the digital
credit train has left the station stretch is working even
today as SATA, you know it's like what $99.99 hitting par
right now. So, so you can see that that
asset class is working. Both those instruments are
working right now. I think that all of the
uncertainty is really just opportunity.
I love that ending. All the uncertainty is really
just opportunity. You love to hear it.
OK, guys, to put this in the context because he didn't
actually put the numbers, but from my understanding and from
my memory here, the credit market's about like what, $300
trillion? So 1 to 2%, about what, 3 to $6
trillion of demand coming into Bitcoin.
If my math is correct, that's a multiple of, you know, two to
three times the Bitcoin market cap.
The only reason I'm bringing these numbers up because as
Taylor said and as we've been watching, it does seem like the
digital credit idea has left the station.
It does seem like there's an incredible demand going into
digital credit. Now obviously from our
perspective, we're always like just buy spot Bitcoin.
But again, from the credit market participant perspective,
either they don't want to buy spot Bitcoin or further, they're
not even allowed to buy spot Bitcoin.
And now they have something that they can get into with
incredible upside. Again, what we've been talking
about, rather what I've been talking about and I've been
trying to put this into context or rather into a framing model
that obviously makes you extremely bullish.
That's, that's my job here. Full disclosure, I am a Bitcoin
propagandist. I am a, you know, I'm not biased
Bitcoiner. I think this is going to
explode. But as you see, the numbers
aren't even that crazy. Just a little bit of capital
finding its way into Bitcoin and and obviously relative little
bit of capital. It would be huge.
Bitcoin's market cap's at 1 1/2 trillion right now if $3
trillion found its way into digital credit.
STRC or the what is it Strata, the Stride product or I think
it's Strata. This is an incredible demand
coming into Bitcoin, something that we've never seen before.
And I think This is why Saylor is finally going into the supply
shock meme. He's finally saying what we
look, he's basically saying Bitcoin simply Bitcoin headlines
here. Bitcoins going to explode.
You guys yell at me all the time for for the titles.
He's saying it now he's starting to get bullish.
Remember last week, he basically said that he believes that the
crypto winter is over. And I think this is because
we've seen, I literally said that on Friday that I think the
reason he's saying that is because of the amount of demand
that he's seeing going into this, quote, digital credit
product that he's created. And further, the other people
follow along. And that really leans into the
idea that I've been saying it's not that much or sorry.
It's not too crazy to think that the diminishing returns meme
could fundamentally break here in the next year or so.
I know everyone is still locked in on the four year cycle
diminishing returned. Bigger number means it's harder
to get bigger number and we got to attract a lot more capital.
But it seems like the quote digital credit idea is the very
thing that is going to attract a lot of capital.
Now to give you an update because I have been doing this
lately, here is the current numbers.
Oh wow, it literally jumped 25,000,000 since I started the
show. That's crazy.
OK, so you saw yesterday, I think yesterday when I brought
this up on the show, it was around 80 million.
It finally ended at 200 million yesterday.
When I got this website up this morning, it was 70 million and
now it's at 94,000,000. So in about an hour, obviously
it doesn't mean that in an hour it's attracted 2425 million.
They probably just updated this, but you can see how crazy this
is. There's still a lot of time
left. So if he gets another $200
million a day, I think they're going to have another billion
dollar week into stretch. And if this happens, this is
where we are starting to see the trend of exactly what Saylor
just said. The digital credit has left the
station. This is the hottest product
right now. It's performing incredibly.
It's getting a lot of attention because it's attracting so much
capital. And a sailor likes to say that
is that flywheel where you track more interest, you create more
demand, they buy more Bitcoin. And this just keeps repeating
and repeating and repeating. If Sailor is capable of doing
another billion dollar week, and I really had my doubts yesterday
when I was looking at the numbers, I'm like, oh, he's,
he's going to, you know, slow down a little bit.
But here you can see last week, 1.2 billion.
I'm guessing today they're probably going to attract in the
100 million. So it might end up at 200
million, you know, 5 * 2. I think they might have a
billion dollar week. Again, that's four weeks in a
row. I think it is becoming very
clear that what Saylor is saying is backed by much more than just
me shilling hopium on the show. He's seeing stuff behind the
scenes that is really making him be or rather making him go out
there and say at the Bitcoin conference, obviously he needs
some sound bites. Like I'll give that to you, he
needs some sound bites, but he's going out there now and saying
supply shock rally into the end of 2026.
He's already put his head on the on the chopping block and said
the crypto winter is over. Though again, I do have another
little update from Andre for Bitwise kind of talking about
where we currently stand in the market.
We're not out of the woods yet. And and further, we did see
that. The Bitcoin conference dump the
the classic Bitcoin conference dump every single year.
It did go a little lower. It's a it.
From the high of yesterday, we're about 5% down.
Obviously it's not crazy. It's a dump.
For ants it I wouldn't really be concerned about it.
It's not something to really panic, but it's playing out
exactly as we all knew it was going to happen, which is just
always hilarious to me that the biggest event in Bitcoin, the
Bitcoin conference, the price always dumps.
But anyway, sailors out here first day of the conference to I
think what the numbers were is about 8000 people that were in
attendance yesterday. I think today is going to be a
little more. He's out there saying, look,
this year is going to blow everyone's socks off.
I think we're all going to look back and be a little mad that we
weren't as bullish as we say we are, that we weren't stacking as
hard as we like to say we do in the chat all the time.
But all these factors are playing out, which we've been
covering on this show for a long time.
And I know a lot of us, I mean included, and you guys in the
chat are not the happiest of or not the happiest about the
institutional interest in Bitcoin.
I have been saying that it seems like the biggest attack on
Bitcoin is not, you know, what node you're running, It's that
Wall Street wants your Bitcoin. They are delivering products to
incentivize you to give up custody of your Bitcoin.
So what are you going to do? You're going to acquire,
accumulate more Bitcoin and make sure you take that into self
custody. Because if you're giving up your
Bitcoin right now and we're on the verge of an incredible
rally, who knows what happens and who knows who's going to
blow up? You probably won't know until we
see some kind of drawdown again. But I would not risk it if what
we think is going to happen and Bitcoin's going to have an
incredible rally 2020 end of 202620272028 like the four year
cycle kind of basically says the safest and best place for you to
have your Bitcoin is under your control, Not your keys, not your
cheese. We all know the memes.
We can't forget our fundamentals here.
But I'm going to side with Sailor on this one.
I too also believe that we are probably seeing a supply shock
building out right now in real time.
I, I said it a couple of times. It feels like the foundational
steps are being built out right now and it, it is kind of like
the matrix meme, you know, like not like this.
You guys know that one where the they unplug her and she's like
crying, not like this. It isn't happening, happening
exactly as maybe the cypherpunk perspective thought it would,
but it's happening exactly as it was always going to happen,
which is literally the theme of today's show.
This is like the theme of today's show is Bitcoin is for
enemies. Yes, there is literal, you know,
ABC men at the conference speaking to us, trying to
persuade us that they are on our side.
And I will break some of this stuff down later on in the show,
but we are seeing that look, it's almost a repeat of what we
saw in November of 2024. And, and this is really where I
start to probably become cynical fields here is because it is a
lot of rhetoric and we have yet to see that much action.
Though we did get like an announcement of an announcement.
And I, and I didn't bring it up on today's show, but we did get
an announcement of an announcement by, I believe it
was Tom Willis, I believe, or Tom Wills.
He said that we will get a very big strategic Bitcoin reserve
announcement soon, in a few weeks.
So he, he's literally doing an announcement of an announcement
on stage. But I, I, I'm not playing that
clip for you guys, but it does seem like maybe they are
starting to realize that they need to get some action, like
they need to do something concrete here, especially if the
midterms are about to heat up, especially now that it seems as
if the Clarity Act, it's still in limbo now it's been pushed
back. Shouts out to Senator Lummis.
I saw her, her, you know, her blurb yesterday, a little sound
bite. Now they're saying mid-May,
mid-May is when the Clarity Act is going to happen.
I did see some people say that by June, it's going to happen,
keeps getting delayed, right? But I think they're starting to
realize like, OK, it's time. Everyone's got this feeling that
it is time now for some action to happen.
And if we do see the action, then maybe in hindsight, we'll
look at the rhetoric that we're hearing today and we won't be so
cynical about it. I will be a little cynical about
it on today's show, I'm not going to lie.
But hey, how about in the chat? Do you believe in the supply
shock? I want to believe in the supply
shock. Is it ever going to happen?
Are we going to see this start to play out?
Right now it really feels like with the amount of education
reports, analysis from the institutions with the
recommendations of anywhere between 1:00 to 20% of their
clients portfolio should be in Bitcoin.
With the supposed Clarity Act going through and whether that's
going to be beneficial or not, the unlock of capital could be
very, very swift and we could see an increased demand that
we've never seen before. That's obviously the bull case.
That's what I've been saying for a long time in regards to.
The only thing I was bullish about the institutions coming
was that they were supposed to pump our bags.
And yet it seems like they've been shorting us and they've
been making money on basically making us all poor again.
So we'll see. We'll see.
But Saylor starting to get a little more bullish than we've
seen him in the last couple of weeks.
Crypto winter is over, supply shot coming soon, Stretch is the
best product ever, and bitcoins going to rise.
And all of this is going to be a nice little story that we tell
people in the past. So it's like, remember when we
were buying Bitcoin AT70K and we were all mad, We were all
disillusioned because we had the first Bitcoin president quote
Bitcoin president and nothing happened.
And we went sideways for a year. And then the end of 2026 and
2025, we saw an incredible bull run the likes we've never seen
before. I'm, I'm here for it.
I, I really, I'm, I'm really going to agree with a couple of
my friends when they say that the 2021 and the 2025 bull runs
weren't real bull runs. And now we will see an
incredible bull run. Hopefully it'll bring us back to
the glory days of like 2017. It's what we all want.
That's what we're all here for. We're like junkies waiting for
the price to do what he did in the pack, what it did what, 10
years ago? What a long.
Ride and yet we are still obsessed with Bitcoin.
We are still buying Bitcoin accumulating Bitcoin taking into
self custody doing the Bitcoin first principles because we know
the game and you know shouts out to Simon Dixon.
He's been very strong on this message that if you don't like
these people coming to Bitcoin if you don't like the people
speaking at the Bitcoin conference then literally the
only move you can do is acquire more Bitcoin and take that
Bitcoin into self custody. I know it sounds almost naively.
Easy, but that, that is the game here.
Why they try to financialize Bitcoin?
You just buy spot Bitcoin and take it into self custody.
Or you know, like a lot of the stuff Jack Dorsey was talking
about yesterday. You just use Bitcoin as money.
You work for Bitcoin and you store it in cold storage.
Anyways, I rambled enough. I rambled enough on the supply
shock. I know I'm I'm not checking out
the chat but. Someone does not want Sailor to
be the richest man. Yeah, I agree with that.
Supply shock is already here one Bitcoin is expensive for plebs
already. Honestly, I was saying that this
morning and and side tangent. I, I, I will keep the show
going, but I I literally said the same thing this morning to
Luke. I was like, dude, you know, it
really does feel like us Bitcoiners right now.
And maybe This is why a lot of people are tuning out of
Bitcoin, why they're not as obsessed with Bitcoin, why they
why they don't think it's still the exit that we think it is.
It's because we literally got in the door like right before it
closed. We got in at like 11:30 right
before the clock strikes midnight.
And now we're just kind of waiting and everyone else is
outside the door. And they're like, I don't even
know if I want to buy this. Why would I buy this?
If the institutions are going to control it, centralized, it's,
you know, what are what are all the things they've been saying?
It's been captured. It's not the freedom tool we
thought it was. You know, the government's
embracing it. I thought this was for freedom
and separation of money and state.
But yeah, it does sort of feel like the price has gotten to a
point. Or you might believe in the
Veblen good idea that the higher the price, the more people want
it. But it does feel like a lot of
people have been priced out and now they're looking at Bitcoin
and they're wondering whether they should get in.
But we'll see once the price starts ripping, if we get
another FOMO round like we've seen before.
It's not clothes. People's ego is keeping them
from buying. Yeah, let's say it's an
optimistic take. Optimistic take.
It's simple, but I'm so true. Yeah, agree.
You guys, it's really this simple, but people want to
complicate things. Anyways, let's keep the show
moving. Again, we got an interesting
clip from US Senator Nick Begich and he's reintroducing a bill.
But it's not really so much about the bill that I find most
interesting. It's about not only the rebrand
of they bill. Uh oh, did it knock me off?
No, I think I'm good. But he is starting to emphasize
and we we are seeing this a little bit the, the reemphasis
of self custody and the importance of self custody and
how it's truly an American value.
And then to in the news, I'm going to be covering probably
the most contentious talk that we saw yesterday, which was
Attorney General Todd Blanche and of course, FBI Director Kash
Patel. There's an interesting clip
coming out of it. A lot of people were celebrating
it and then you then there's some probably less favorable
coverage that I want to highlight.
And then to wrap up the show, I'm I'm going to continue the
coverage of where are we currently in the cycle
considering on chain metrics. So that's today's show.
I'll be right back after the commercial break.
Today's episode is brought to you by Bitcoin Well Infinite.
If you're a serious Bitcoin buyer, you've probably hit the
same wall. Most platforms make you give up
custody just to play by the rules.
Bitcoin Well Infinite fixes that.
They're North America's only publicly traded, non custodial
OTC desk listed on the TSX Venture Exchange, which means
transparent operations and 0 counterparty risk.
You buy Bitcoin, you take immediate control period for
trades over $50,000, you get a dedicated executive Bitcoin
advisor, competitive spread starting at 1%, and immediate
delivery straight to your own wallet.
No custody risk, no withdrawal fees, just institutional grade
execution with full asset control.
If you want to buy Bitcoin the right way, book a free
consultation at bitcoinwell.com/OTC or e-mail
infinite@bitcoinwell.com. I want to give a shout out to
our partner stamp seed. Is your Bitcoin and cold storage
really secure? Are your seed phrases really
secure? Stamp seeds do it yourself kit
has everything you'll need for you to hammer your seed words
into commercial grade titanium plates instead of just writing
them down on paper. Paper is fragile.
Titanium plates are strong. Your words are actually stamped
into the titanium plate with this hammer and these letter
stamping tools. Once the words are in, they
aren't going anywhere. No risk of the plate breaking
apart and pieces falling everywhere.
Titanium stamp seeds will survive nearly triple the heat
produced by a house fire. They're also crush proof,
waterproof, non corrosive. And time proof.
And now you can customize your titanium seed plates.
You can upload your design or logo and they will laser engrave
it on the back of your seed plate, the opposite side of
where the words are. Stamp your seed on stamps and
use promo code simply to get 15% off anything on the
stampseed.com store. You guys are cracking me up in
the chat. I I.
Hopefully I'm back. I I did notice that it did.
I got kicked off for a second low bandwidth, but I should, I
should be back at least it looks like it's back to me.
So anyways, you know, I do the show every single day, guys, and
there's still issues and, and it's not me, OK, It's not me.
Whatever, whatever, you guys don't care.
You guys don't care about me, but it's not it's not my fault,
alright? Anyways, the current Bitcoin
price is 76,000 and $40. I repeat 76040, which is a
discount of 39.7% from all time high.
We have definitely at least up to this point secured that 1 1/2
trillion dollar market cap and the current block height TikTok
next block 947 and 48 I repeat 947048 OK, so as.
This is not a wig, guys. OK, this is not a wig.
Enough about my hair, guys. So you're making me
self-conscious. Anyways, there's a clip of this
was actually if you guys were watching yesterday's show after
the first break, I was like, oh, we got a we got a breaking news
story coming out, but obviously I couldn't package it.
I couldn't couldn't get it uploaded for you guys.
But this is what I was talking about.
It was this clip here of US Congressman Nick Begich.
He's reintroducing his bill, but he's going hard on the
protection of self custody. Your Bitcoin, which personally,
from a hardcore Bitcoin perspective, I'm like, like,
yeah, I know Nico says all the time we need to what do you
always say codify the protection of self custody?
I'm like, bro, I don't need to ask your permission to do what I
can do already. That just seems as backwards to
me, Okay. But I do find it interesting
that we are hearing US Congressman, obviously he's been
orange paled. He's been talking with the
Bitcoin community for a long time now at this point.
And it's just interesting to hear you as congressman.
And again, this could be rhetoric, it could be hot air.
Obviously, I think they know who they're talking to and they want
us to support them. So that I keep that in mind.
But it's still interesting to me to hear, you know, politicians
say stuff, sort of what would be what we've been saying.
I've said on the show a lot of times, you know, Bitcoin is as
American as apple pie. And then everyone's like, well,
isn't apple pie French? I'm like, yeah, whatever.
You know, the meme. I think Bitcoin is truly
exporting the American ideals to the rest of the world.
And maybe that's just because an American and you guys are like
this silly American. Look at it.
Look how he sounds. He thinks America is the
greatest and you know, the Constitution.
So good. Yeah, whatever.
I'm an American. OK, We have our politicians
saying this while on the other side of the pond.
What are your politicians saying?
We want to. We want to have CBD CS.
You can't save your money. Look, I'll take this over that
any single day of the week. So let's watch the clip and we
talked about individuals self custodying, their corporations
self custodying, governments potentially self custodying.
Can you maybe hit on some of those latter points?
Should exchanges and corporations, should they be
self custodying? Is it easier to just give it to
a qualified custodian? Where do you kind of land on
that point? Well, I'll tell you, you know,
history can be quite instructive when looking at the importance
of self custody. If you go back to 1933 and you
had an executive order from the president at that time to
confiscate privately held gold and it was effective.
It was effective because gold at that time was viewed as the
money supply. The government was short of
money supply, wanted to increase its money supply and went out
acquired in my view, illegally this these, these gold assets
from individuals and and then revalued and devalued the dollar
a year later. And it it really impacted people
who had been savers of actual money of hard money at that
time. And I think when we Fast forward
to today, we need to make sure that that doesn't happen again.
And I think it's in the best interest actually of exchanges
to support self custody because it's a lot harder for a
government under pressure to to confiscate millions or maybe 10s
of millions of privately held wallets than it is to go to one
of a dozen, a few dozen places and confiscate a critical asset
like Bitcoin. So I think it's important.
I think it's good for the ecosystem.
I think it's good for everybody to make sure that we have laws
that enshrine the ability to self custody.
And if you don't mind, I did bring from my bill the Bitcoin
Act, which I carry with Senator Lummus in the House, the
language as it relates. To.
Self custody. Affirmation of Rights This act
affirms and protects the rights of persons to maintain full
lawful control over the Bitcoin and other digital assets of
those individuals, recognizing that the ability to maintain
self custody of private keys is fundamental to the principles of
financial sovereignty, privacy and personal liberty in the
digital age. Hey, hey, guys, come on.
Is that not some good rhetoric? Look, I'll, I'll be a little
cynical. Is that not some good rhetoric
there? Man, you got to love that.
I mean, a sitting US Congressman talking about Executive Order 61
O2 1933 when we confiscated the gold from asset holders,
basically saying, hey, it's a lot harder for the government to
take millions of people self custodying their Bitcoin then if
it's all the Bitcoin is basically legally forced to stay
on the exchanges. Like this is the stuff that we
want to be said. Like this is the stuff we want
more people to hear. Say what you want about him
being a politician, but have we not said the same thing on this
show multiple times? That's some signal right there.
OK, Obviously, again, he's at the Bitcoin conference.
He wants to get his bill pushed through.
At this point, a lot of the Bitcoin bills that we've seen
are usually DOA. But you, you got to love to hear
that. I don't know about you guys, but
you know what I was thinking during that clip.
It was Dang, I'm blanking on that cartoon.
The the puppet movie. Yeah, it actually it's just like
America. Fuck yeah.
Like let's go. That's.
What I was thinking throughout the whole clip, Yeah.
Are you not entertained? Like for reals guys, that was
some good. Stuff.
OK, that is the type of rhetoric that I want to hear politicians
saying. Imagine if everyone, all the
congressmen were as orange, pailed and based as this guy, US
Congressman Nick Begich. We'd be in a totally different
world. And that does lead to a kind of
a broader conversation that I brought up on the show multiple
times where I know a lot of us bitcoiners don't like politics.
We've been, how do I put it, pushed out of politics.
You know, people ask me all the time, like, you know, what side
of the aisle are you? What will you know?
Who do you support? And I'm usually, I steal the
line from Eric Case. I'm like, I'm politically
homeless. I see some things maybe from
both sides that are like, OK, I understand it, but none of it
really encapsulates what I believe as a Bitcoiner.
But hearing someone like this say what I believe, it's a
bitcoiner, it's hard for me to not fall for again, being a
little cynical here for the propaganda.
You got to love it, man. Like this is the stuff you want
to see politicians all around the world saying.
This is good stuff here. OK, I'm cynical here.
Yeah, yeah, me too, bro. I know.
I know politicians lie. I know politicians say what they
want the audience to hear. Obviously I know all that.
I'm as cynical and sarcastic as anyone else, but man, that was
some good stuff. OK, It was projection.
You probably probably, man, it was still good, OK.
I guess you have no clue then. OK, all right, I get it.
You guys don't like politics? I have AI, have a very real
distrust for politicians myself. Yeah, yeah, yeah.
Wig party, guys, This is my real hair, OK?
This is my natural hair, OK? I have some luscious locks, all
right. All right, love of my hair.
All right. Now, now we're going to get into
the real meat of the conference. Yesterday.
This was probably the most anticipated speech, at least
from a social media perspective. But actually, this was probably
the most contentious speech that happened yesterday, and I do
have a sound bite for it. I will, you know, breakdown what
he said and I will give you kind of the, I guess the real full
breakdown of of what was said yesterday by Attorney General
Todd Blanche in regards to the speech titled like code is
speech. I think it was I think that was
the title of these this conversation.
And everyone was freaking out heading into this.
Like how do you have the attorney general and the FBI
director talking at the Bitcoin conference and their keynote is
titled CODIS speech when we have open source developers in jail
for this very thing. This, you know, actually it
probably wasn't the most popular speech because I saw some I, I,
I didn't pull them up for you guys, but I did see some more
behind the scenes and, and the. The audience was like completely
empty, so bitcoiners obviously didn't really care.
But this was the most contentious conversation that
was had yesterday, so let's get into it.
I want to give a shout out to our partner, Leadin.
Here's something most Bitcoin holders never figure out until
it's too late. You're sitting on wealth you
can't touch without selling. Leadin fixes that.
Bitcoin back loans. You keep your stack, you get
cash. And they just introduced their
lowest rates ever. No complexity, no fine print.
The larger the loan, the lower the rate.
These new rates apply to all new loans, refinances and renewals.
You'll see all the rates upfront before you apply.
The new lower rates come with Leaden's gold standard
protection. Your Bitcoin remains custody and
is never lent out for interest. Perfect eight-year track record
of keeping clients assets safe. Auto top UPS, LTV alerts and
partial repayments to keep you in control.
Repay whenever you want with 0 penalties or monthly payments.
Leaden's perfect $10 billion track record through every
market cycle in the last eight years speaks for itself.
Don't choose between a great rate and the safety of your
Bitcoin. Get both at Leaden.
I'm going to give a shout out to our partner Bit key.
If you already self custody your Bitcoin, you already know the
deal with hardware wallets by now.
Complex setups, clumsy interfaces and a seed phrase
that can be lost, stolen or forgotten.
Bit key fixes that. Bit key is a multi sig hardware
wallet built by the team behind square and cash app.
It packs a cryptographic recovery system and built in
inheritance feature into intuitive, easy to use wallet
with no seed phrase to sweat over.
It's simple secure self custody without the stress time named
one of the best inventions of 2024, get 20% off at bitkey dot
world. That's BITKEY dot world with the
code simply. OK, guys.
So I'm. Yeah, yeah, yeah.
Johnny go. We have a booth over there, man.
Or actually, I'll, I'll, I'll, I'll I'll update you on, on what
I where I think Miko is right now.
But anyways, as I was saying, probably the most contentious
speech yesterday was the keynote by the US Attorney General, Todd
Blanche and the FBI Director Kash Patel.
And there was an interesting sound bite coming out of this,
and it does seem bullish on the surface.
It did seem like a good sound bite.
Now, obviously, maybe it's because us Bitcoiners are very
cynical, untrustworthy, not what?
We're not untrustworthy. We don't trust the politicians.
A lot of people just out of this is hot air that they're just
saying what they want us to believe or what they want us to
hear. And they're not actually going
to do what they said in this clip.
But let me just play the clip for you guys and then we can
we'll we'll have a little back and forth in the chat as I, you
know, kind of give you my initial reaction to it.
And then from what I saw, a lot of people kind of breaking down
in detail what was said. So here is Attorney General Todd
Blanch in regards to the clip that was going around of they
will no longer prosecute Bitcoin developers.
And with the FBI as well, the basic principle is that if you
are developing software, if you are a coder, if you are part of
that process and you are not the third party user and you are not
helping and knowing the third party is using what you
developed to commit crimes, you are not going to be investigated
and not going to be charged. And obviously facts matter
because if, if, if you're laundering money or violating
sanctions, the mere fact that you happen to be a coder doesn't
excuse you from criminal liability.
So there's a distinction there. And that's why the facts of a
particular case are very important.
But I really need coders to understand, I really need the
industry to understand that we have fundamentally changed the
game when it comes to our investigations.
And if you, if, if you're a coder out there and you're,
you're listening to me speak and you are under investigation or
you have to hire a lawyer to, to respond to subpoenas, you, your
lawyer should feel very comfortable communicating with
the FBI, communicating with the prosecutor on the case and
making sure that they are not violating them, violating my
memo. Because if they are, that can be
elevated all the way to me, but certainly elevated within the
department because we are not doing that anymore.
And, and I know that there's some lingering cases that, that
are very fact specific and, and very procedurally complicated.
And I'm not saying that as an excuse.
It's just, it's a fact. It's the way it is.
But, but those, those cases are, are, are something that that
we're continuing to deal with. But, but make, make, let me make
myself crystal clear that that's, I want to put my money
where my mouth is. And, and I expect director Patel
does as well. And, and when we say that we're
not, we're not conducting those type of prosecutions anymore,
we, we mean it. And and I and I want to make
sure that that that is felt throughout the industry.
OK. So Chad let's, I don't know,
what do we do? One, if you believe him, 2 if
you don't, and and then we'll talk about it.
But as you can see from the beginning of the clip, the main
contention is this idea of you can create open source software,
you can create the software and you won't be legally liable for
anything people do on that. If you don't know, I obviously
I'm butchering that, but that's basically what he said.
As long as you are not aware of what is going on and you're not
actively pushing for money laundering, criminal activity,
avoiding sanctions, then you will not get prosecuted again,
rewind it. You can hear him, but that's, I
guess my layman terms of saying what he said.
And then further, and he did say that they're no longer going to
be prosecuting such cases. But there are some lingering
cases, which as you guys know, we all know basically what those
are. It's the Roman Storm, Tornado
Cash case and of course the Samurai wallet deaths.
And these are the big precedents that we've been covering for a
long time here on the show. And I did see a couple of
updates here. First one I want to cover is by
Eleanor Terrett. Of course, you guys know I'm a
huge fan of her work. She's been doing extremely good
work covering Bitcoin or crypto in America and the Washington,
DC politician's view on Bitcoin and how this is all interacting.
She's been very good coverage on the Clarity Act.
Now, she dropped this tweet yesterday.
So Eleanor goes new. I asked Roman Storm's defense
team if the Attorney General Todd Blanche's comments at the
Bitcoin conference today gave them any hope.
Storm's lawyer, Carrie Curtis Axel, said no, quote, DOJ cannot
credibly claim it has, quote, changed the game while still
persecuting Roman Storm. The president SDNY is trying to
set is wholly at odds with Blanche's memo and the
president's policy. Axel also pushed back on
Blanche's claim that cases can be elevated all the way to the
top. More on that to come.
So this is from one of the big cases that he basically talked
about saying some lingering cases.
And this is what the official response.
Well, I wouldn't say official response, but what a response
from one of the lawyers said. So they're not taking this as
bullish as maybe a lot of people on Twitter were saying.
If you saw this circulating, a lot of people were saying, oh,
Samurai wallet devs are going to be free now because of what he
said. I'm still a tad bit skeptical
here. And going further, there is, you
know, maybe a less faithful reading of this because he did
basically said like, you won't be arrested for coding Bitcoin
privacy tech as long as you don't use it yourself, as long
as not only you don't use it yourself, but as long as you
know that a third party user isn't using it in criminal
activities. And this is where I think the
big contention happened on Twitter.
It is shouts out to low elites from the rage.
I I will. She does get a little spicy
here. I will read this.
With a APG reading here and Lola goes, have you been celebrating
Todd Blanche's comments on developer protection from
yesterday's Bitcoin conference panel?
Congratulations, you are regarded what what Blanche
really announced yesterday that the DOJ continues to seek and
intentionally create the legal circumstances to continue to
prosecute non custodial developers.
How? By making a single important
distinction. Knowingly transmitting a legal
fund will continue to be a crime in the US whether you have
custody of funds or not. This means that anyone sending a
non custodial developer an e-mail message or XDM on
knowledge of illicit use could send you to prison for decades
to come. Worse, even Googling a hack
could be used to construe criminal liability.
How do we know this? Because this is exactly what
they are doing in the Roman Storm case.
Roman storm case. Non custodial developers
transmit funds and thereby knowing of the transmission of
illicit proceeds creates criminal liability for sanctions
evasion, for money laundering, and for money transmissions laws
carrying a total of up to 45 years in prison.
If I were developing non custodial software in the USI
would get out as fast as I can. If I wasn't in the USI would
make sure to not make my software available to US users
and ensure to not do anything at all to give these politicians
jurisdiction. The US is not a safe place for
Bitcoin. So that's the rages read on
this. And first of all, I am a huge
fan of Lola Elites. I usually do defer to a lot of
the things she says because she reads the stuff and she does
have a very hyper focused on the protections of not only privacy,
but of open source developers. So I think this read is probably
what was said. If you are being a little more
cynical on what that sound bite was saying.
Obviously a lot of people are trying to take this as a win and
I I would love for it to be an actual win if we do see here.
I mean, he did say, I want to put my, you know, my money where
my mouth is. So maybe it's not going to be a
lot of hot air. Maybe this isn't just them
trying to appease the crowd, though.
I know that that is the cynical view here.
But as we've seen, I mean, he very clearly basically said as
long as you don't knowingly know that your software is being used
criminally, you won't be liable. So there's still this push for
Bitcoin to be the crypto capital world.
And there's a lot of headlines on this idea that we are in fact
the Bitcoin capital of the world.
And I'm honestly like, I want to believe it.
But as we've covered on this show, when we saw the privacy
wars really coming up coming tough, I think that is when Nico
started crashing out. That's when he got a little more
cynical. I think I've been pretty cynical
in the whole political process since the jump.
So I would like to believe that this is as bullish as everyone's
making it out to be. I do like to have opposing ideas
here. This is why I usually give you
like a bullish take and then I'll give you the cynical take
so that we can, I would argue, have a more balanced nuance take
of what is being said instead of just always completely bullish
about it. But let me see.
Let me see is there? Let me see, did did you guys
throw any ones in there 21.5 cap 21.5.
Dan B. That is the big contention.
Mixers that don't hold fun to any time are protected.
That is basically what the Roman Storm Tornado Cash case and the
Samurai Wallet dev like. That was the big contention.
And as we saw, it really didn't mean much because they basically
made the case that they got some emails, you know, they got some
DMS and some of their marketing was basically saying, hey, come
use our product, even if you're doing stuff that skirts the line
here. That's what made them liable.
And that's why that clip is. So I would say interesting and
maybe contentious because there is a little bit of Gray area
here of what what it means. If what it means to know that
people are using your software for criminal activities.
Pardon those that have been, then I'll vote one yes.
So the US should end the dollar? Because they're aware that is
honestly, that's such a Bitcoin, such a Bitcoin.
Take it easy. Don't communicate with the
users. Yeah, maybe.
Maybe be anonymous. Actually, I forgot to bring this
one up. Let me bring up Giacomo's
response to this, and we'll have one more editor.
How is my Twitter acting up? Is Twitter down for you guys?
Oh, dude, it's it is down. Am I cooked?
Oh, here we go. OK, we're back.
No, dude. Did I save it?
All right, Twitter's not working for me.
Wow, dude, what an L OK, let me see.
Did I save this? Did I put it in my notes?
Dude, Twitter's not working. Oh, did I get banned?
Yo wow, am I banned dude? Am I cooked guys?
Did I just get banned? What is going on?
I didn't even post anything this morning.
Yo. OK, let me.
Let me. OK, We're back.
We're back. Dude, I just thought I got
banned live. What's going on here?
All right, here we go. I found it.
Here's Giacomo's take. You know, hardcore bitcoiner.
And he goes quote if you are coder working on privacy and
freedom tech and you're not sure if we are sending armed goons to
hurt and kidnap you for your. Code, please reach out to us,
tell us who and where you are so that we'll make sure clarifying
whether we are. Stay anonymous, guys.
Use disposable nymphs. If you have to fall for an
obvious trap, at least wait for a less embarrassingly obvious
one. I gotta love it.
Gotta love it. OK, what's going on here?
Let me see. OK, OK, everyone.
OK, it's down for everyone. Too OK that was that was
interesting OK, so let's. Damn, my Twitter's down now.
Well, I'll, we'll, we'll shoot the shit to wrap up today's
show. So last commercial break.
I'll be right back. My my Twitter's down, guys kind
of naked. I want to give a shout out to
our partner Hive Digital Technologies.
Fueled by clean energy, Hive has quadrupled its global Bitcoin
mining footprint and channels that same scale into high
performance compute, where their AI cloud is now ranked number
one in the world for network performance.
At Hive, you've got dual engines, Bitcoin and AI humming,
roaring, accelerating and unison.
They're lean and mean, They're green and clean, and they're
rewriting a playbook on sustainable digital
infrastructure. You can catch the latest buzz at
Hive Digital Tech or at Hive digitaltech.com.
I want to give a shout out to our partnersat123.com
Sovereignty isn't just about your money, it's about your
communications too. When the grid goes down, most
people go dark. Cell towers fail, and
hurricanes, cyber attacks and blackouts the satellite phones.
They don't rely on local infrastructure.
Iridium has 77 satellites in orbit giving you a Direct Line.
Fine anywhere in the US, even offshore.
If you hold your own Bitcoin keys, you should hold your own.
commstoosat123.com also has everything you need to start
building your Bitcoin Citadel, Starling, battery backups, Verde
bags to protect your hardware wallets, and much much more.
It's a one stop shop for anyone serious about resilience and off
grid independence. Stay connected, stay
independent, stay soft. Go to sat123.com/simply today
and use promo codes. Simply to get 15.
Percent off anything on the store.
Yeah, hold on, hold on. The the rumble chat.
Rumble chat. Who is this mind of Elijah X
goes down show ends law. Getting banned on Twitter is a
rite of passage. No, well, I'm not banned.
I'm a I'm a good shit poster. OK, I just.
I don't say anything crazy, all right?
Anyways, someone was asking, I forgive me, I forget who it was
a minute ago. They're going to meet Nico.
Well, check out Nico. Apparently he's racing some cars
right now. Here I am in the dungeon,
sweating. I'm doing work here, and Nico
gets to go race freaking supercars.
Guys, it's not even fair anymore.
No, I'm trolling. I'm trolling.
It's all good. It's all good.
But yeah. Nico will be at the conference.
We do have a booth, bro. So there's a booth.
I don't know where it is. I obviously I'm not there, but
there's a booth there. We got the signs, you know, go
there. I know we have some of our team
there. Unfortunately, I'm not there,
so, you know, going to miss out on me.
But Nico should be back. I'm sure he'll be back at the
conference later on today. I don't know when he's doing his
keynote stuff. I think he had one yesterday.
I don't know if he has any more appearances today, but he'll be
around. They're around.
So, you know, go check him out. Anyways, let me see, is my
Twitter working? Yeah.
OK. This is kind of what I want to
talk about because I was covering this yesterday and I,
and I really love Andre's coverage here.
Obviously he works at Bitwise, he's got the data to back it up,
but this is kind of what we're seeing right now.
This is the general sentiment, I think from people that aren't
biased. And by the biased, I mean that
we're going to be seeing a prolonged bear market until
October or, you know, Q3 of this year.
Everyone's kind of watching the 82801K range right here and I
know you guys don't really like the Opti Tai know actually some
of you guys do, some of you guys do like it.
But I think this is this is just to give us a framework for where
we currently are right now. And it's really going back to
the idea of should you be smashed buying right now?
Should you be waiting for a dip? Wait for the Bitcoin conference
dip to. Finally end and then maybe we'll
get a little more price action to the upside.
But here is the breakdown. The real question for everyone,
of course, isn't whether Bitcoin is going to return into a new
bull market. It's at what price point does
that psychology flip? I don't think anyone here, at
least if you've been around for a while, has any doubt that
we're going to go into another bull market.
We've been around long enough. We know how this plays out.
Bitcoin. 'S not going to 0A bull market's
coming back. It's not a if, it's just when.
When are we going to see that psychological shift?
When are we going to see the FOMO start to come back, the
price start to get a little frothy.
And here's probably the best breakdown, at least maybe this
is the best breakdown to me 'cause it's confirming my bias.
And you guys know I I only trust the science when it confirms my
bias. So right now the market is
staring at a massive confluence of cost bases between 80 and 81
K. Our latest status shows that the
true market mean the short term holder cost bases and the US
spot ETF cost bases are all clustering at this exact level
of 82801K. This isn't just a random number,
it is the demarcation line. This 801K level is a significant
technical indicator in our on chain models as it could
represent the shift from a period of aggregate market
stress to one of broad based profitability.
Until we reclaim this level, we remain in a late stage bare
phase defined by seller exhaustion, which is what we
were covering the other day. And here.
Let me let me zoom in here on this chart Bitcoin momentum
levels, Bitcoin price true market mean I'm.
I'm color blind, so I. Can't really tell which lines
which guys, sorry but ADK. Oh, here we go, ADK.
Line, that's what we're all watching here, guys, OK?
Which? Is what I've been saying and now
I have the data, the on chain metrics and the cost basis for
what, What do you say again, cost basis for the ETF and the
short term holder and the true market mean?
80K to 801K. Obviously, we got the classic
every year Bitcoin conference dump.
It's roughly down 5%. Let's see, are we dumping more?
We've been dumping more every time I do a show now.
We are currently at 76 one. It's not that bad so.
The real number that we're probably all watching is that 80
to 80. 1K which is to say. Another way, if we breakthrough
the 81 Ki think it's pretty safe to say that we're not going to
be in a bear market until October.
I mean, who knows, maybe there's one more dip in US.
Maybe we got a, maybe you. Got one more chance to get some
cheap sets before. The game starts to have some
fun. You guys are funny.
Let's see. Let's see.
He's schmoozing Opticos. Nico's right?
No, dude. Nico's my handler, bro.
You got it mixed up. I did get rugged.
You always have Matchbox Optic. Yeah, dude, I I get Hot Wheels,
bro. Daddy.
Oh, thank you. For the Super chat to $5.
Since you got left behind. Appreciate it man.
Oh, Misfit, Thank you. Man, I appreciate.
That I don't. I don't know.
I don't know about that. I will.
Say that we do have a lot of fun here.
You know what? You know, I, I.
Was actually thinking about this.
You know why I think you guys really enjoy the.
Opti Show. The Simply Opti shows and this
is not to pat myself on the back 'cause I cause I've really been
thinking about this is if you've ever met me in person, I'm like,
I'm literally the same guy that I am on the.
Show, obviously. I, I probably have to tone it
down a little bit on the live show, but this is me like I, I
tell you exactly what I think. Obviously I got to tone it down
a little bit, but I, I think, I think.
Part of. What has connected you guys with
me on this show is there is a a sense of.
Authenticity here like I, I. This is me.
If you talk to me in person, I'm the same way on and off the
show. Again, I'm probably a little
more extreme off the show because it's like, hey, we're in
person. There's no cameras.
You know, we we can have a little fun here.
We're, we're, we're in IRL, you know, life's let's.
Let's have a little fun but. I appreciate it Misfit Droid I I
really do appreciate it. Let's see episode.
I I don't get this episode 1492 talking.
About a supply shock that will usher in a new world.
I don't know man, it's 1492. Oh wait, are you talking about
the? Year 1492.
Hey, hey, let's go. Yo, you're funny anyways guys.
I do have to. Give you 1 update here on.
The show I told you guys yesterday, tomorrow might.
Be a little weird again. They are.
Redoing the roof here on the studio, there hasn't been that
much noise. I'd I'm I'm really hoping that
the noise that I am hearing isn't picked up on the mic, but
tomorrow I might have to stream from my apartment.
I'm still unsure if it's going to be a little too chaotic in
here. The first two days have seemed
pretty chill, so tomorrow it might not be the fancy studio.
I might have to do the first stream since we got the studio
from just the home apt. I will be bringing some of the
gear home tonight. I will come into studio tomorrow
so. I'm going to attempt.
To make sure that I'm streaming from the studio tomorrow, but if
for whatever reason it's a little too loud in here or there
might be fumes in here. If I don't, you know, if I can
actually stream from here tomorrow, I will we.
Are going to have a show tomorrow.
Obviously this is the second day of the Bitcoin conference.
I will give you all the highlights that I find to be the
biggest signal coming out of the conference and we'll talk about
that tomorrow, but I'm I'm going to need you guys to.
Be a little. Lenient on me because I might
not be able to stream from the studio tomorrow.
I might have to stream from from my apartment and it's it's not
as nice as this. I don't.
I don't have. AI don't have a set.
Up for streaming in my apartment, 'cause I come here to
stream every single day. OK, so I got that head.
She goes, yeah. Yeah, yeah.
So anyways, yeah, I'm from the fumes, you know, I said the.
Same thing. And then Sophie's like.
Yeah, I don't, I don't know if they're going to be that those
type of. Fumes, bro.
It might be the type that's going to kill you, so I don't
know. I'm going to come into the
studio. Tomorrow.
We're going to have a show I just might have to stream from
my apartment because it it might.
Be a little too chaotic. Here.
So that's the only update. Maybe honestly, maybe I'll maybe
I'll be able to stream tomorrow. I'm just saying might be a
little different tomorrow, but I am so expect a later show.
Maybe. Maybe stream from the bar.
Yeah, that'd be lit. That'd be lit.
All right, anyways, I. Appreciate you guys.
I love you guys. I'll see you tomorrow same thing
we're going to give you the biggest highlights coming from
the Bitcoin conference, so you guys don't have to watch the
whole 9 hours if you don't want to and if there's any other
breaking news, I'm I'm I'm not just going to cover stuff from
the conference if there's. Some other big.
News. But it seems like all the big
news is coming out of the conference.
So we'll be getting all the sound bites, we'll be getting
the news stories, but it might not be in the studio tomorrow.
That's all. I'm saying, all right, on that
note, guys, I appreciate you guys.
I love you. Thank you for all the support.
Honestly, it means the world to us means the world.
To me. And you already know the deal.
Make sure you. Get a workout in you, eat some
good food, get some sun on your eyes in The Morning, Call your
loved ones, cut some grass. But most importantly, make sure
you are buying some Bitcoin, because if you're leaving SAT on
the table right now, Wall Street's picking.
Them up if you don't like what you're seeing with the.
Institutionalization of Bitcoin. Then you need to be stacking SAT
and taking it into self custody. On that note, Boys stream at
the. Barbershop.
Hey, hey, hey, my. Apartment isn't that.
Messy right now, OK. All right, later, guys.
I'll see you tomorrow. Have a good rest of your day.
It's been SP live. I should stream at our normal.
Time tomorrow at 12:40. And.
Actually, I do want to say one last thing before I shut up.
I know you guys yell at me about putting the show up at 12:16
every morning, but I don't just put up the stream.
And then I I sit around. For 30 minutes waiting.
I'm literally working up until I go live making sure I got
everything for you guys, got the research, got my, you know, my
rants percolating in my head, so I should be live.
Tomorrow at 12:40, but if not. I'm just, you know.
I'm working. Up to the buzzer beater.
All right, guys, peace out. Today's episode was brought to
you by bitcoinwell.com. A Bitcoin only platform on a
mission to enable financial independence.