It's all going to zero against Bitcoin.
It's going up forever. You're against Bitcoin.
You're against freedom. Yo, welcome to another.
Episode of Simply Bitcoin Live. We are your number one source
for the peaceful Bitcoin revolution of color, Breaking
news, culture, Matic Warfare. We will be your guide through
the separation of money and state.
Today is a historic day. Bitcoin is officially trading on
Wall Street. If you're a boomer, you can get
exposure. We're going to get into the
details in fact a lot of a lot of brokerages are are still even
though it's trading now they're still not offering it to their
clients. So we're we'll breakdown all the
details of of all that but the thing that I really wanted to
focus on today like the theme of the of today's episode is
bitcoins irresistible incentives.
The Trojan horse was just let in.
I, I, I tweeted out as like as a meme earlier this morning and I
put, you know, the the Trojan horse from the movie Troy.
I put laser eyes and it's a testament to bitcoin's
incentives and bitcoin's irresistible incentives.
We've seen this many times. We we saw this with the China
ban. I think that was like crazy.
What happened, you know, nation state attack, the hash rate
dropped by like 50%. I believe it's the reason that
the last bull market was, you know, we didn't hit 100K and
within nine months the hash rate distributed all around the world
without a central authority dictating the miners to go
everywhere. It was bitcoins incentives
alone. And once again, what you're
seeing is bitcoins, incentives, capture firms like BlackRock
that you know, with their ESG movements and all that stuff and
their association with the World Economic Forum, you think like
this is an evil institution, but they can't resist.
It's the greed and that greed was able to overcome the
government bureaucracy that did not want this to get approved
like the approval letter from Gary Gensler.
He sounded he sounded so salty. And other members that were
sitting on the on the SEC you know Commission, they were just
like I can't believe this got accepted like like Elizabeth
Warren like. And I again I made another meme.
You know, I mean another meme yesterday of you guys all know
this like the again guys we're apolitical.
We'd only left or right Republican or Democrat.
We stand for the party of orange.
You guys know the deal. But there's that very famous
video of you know, this this lady melting down at the Trump
inauguration and I put, you know, breaking Elizabeth Warren
and and the thing blew up. I can't, I can't even imagine
what Elizabeth Warren is thinking right now.
The Trojan horse just got in, just got let inside into Troy.
They don't know. They have no idea.
And Alex Gladstein really wrote this amazing article called for
Bitcoin Magazine called Bitcoin is a Trojan Horse for Freedom.
And in that article he talks about how you know, dictators,
institutions, banks, central banks.
They can't resist bitcoins, incentives.
But what they what they don't know what What they fail to
understand is that number go up. Technology and freedom enabling
technology are inextricably linked.
You cannot separate the two, right?
So this is a crazy time to be alive, but at the same time guys
have said this many times, this might be positive for the price,
even though as of now it it could have.
You could make the argument that it was a sell the news event,
but it could be positive for the price.
In fact, I do think it's going to be positive for the price
over the long term. But it's important to remember
that the revolution here is Bitcoin in self custody.
It's individuals taking custody of their wealth.
Therefore by doing that, taking back, there's financial
sovereignty rather than outsourcing it to a bank.
There's this really famous expression on Bitcoin Twitter
which is when you have a bank account really it's a two of
three multi sig of which you hold one key, the bank holds
another key and then the state holds another key, you know, so
it it's really about taking control back of your financial
future. So as you know the ETF hype, I
think it reached the pinnacle. This thing's approved, it's done
and dusted. It's important to remember that.
Another thing that I also wanted to talk talk about on today's
episode is there is a very famous space.
I think it was a couple years ago, it was like 2021 or 2020
and Michael Saylor in that space said that there was three things
that needed to happen in order for Bitcoin to reach $5,000,000
per coin. And those three things were a
spot Bitcoin ETF approval, the FASB accounting rules change.
And also the third thing was for banks, large banks to have the
ability and the regulatory approval to custody Bitcoin for
clients. All of those three things that
happened, so we are, you know, all the all the three things
that Michael Saylor said needed to happen have happened for
Bitcoin to hit $5,000,000 per coin.
It sounds so unfeasible at this moment.
You're like, Nico, that's impossible, you know that that's
a ridiculously high number. But I ask you to look back in
the past. Ten years ago, Bitcoin was
trading at $100. We're at $40,000.
So where is Bitcoin going to be 10 years from now?
Something that has absolute scarcity.
Nothing in the world has that right?
If the price of gold goes up, gold production goes up with it,
right? If the price of Bitcoin goes up,
there's a having every four years, baby, that production
stays the same. It is what it is.
And never have we ever seen that in in mankind's history.
So I'm beyond excited. It's an honor to ride this with
you guys. Looking forward to today's
episode. All right, enough with the
monologue. I do want to bring up my
legendary Co host. He's always optimistic.
He has a giant smile on his face.
His name is the Optimus Fields. How you doing buddy?
I'm doing great. Great.
It's a very historic day. And Nika, you asked a question
of what you think Elizabeth Warren is thinking right now.
Well this is better markets, an NGOI believe they call it that
is yeah non profit promoting economic security that Elizabeth
Warren rather is aligned with Elizabeth Warren and this tweet
came out yesterday. So the SEC Gov's action today
has changed. Nothing about this worthless
financial product, AKA Bitcoin and crypto still have no
legitimate use, remain the preferred product of
speculators, gamblers, predators and criminals, and continue to
be cesspools of fraud, manipulation and criminality.
So just love to see that she is digging her heels in there.
So yeah, are we surprised? Anyways, on a totally other
topic, we're seeing that of course you know the banks and
and the holdouts, the the no coin is out there.
They still feel the same way, they still feel self-righteous
about Bitcoin and it's only a matter of time until more and
more people wake up to Bitcoin actually being the economic
freedom tool that it is. I Did you see the Digit
Economist tweet? Nico the the what's his name?
Steven Deal. You got to pull these up,
brother, because. Maybe maybe I can find something
real correct. But Steven Deal if you guys
don't know who he is he's he's been quoted a lot of times on
legacy media about just he he's basically like the guy man.
No this is the wrong one. He he's the guy that's always
quoted for for all the negatives in Bitcoin.
He he his research quote UN quote has been used and and he's
basically saying the same thing. He said something on the lines
that like Bitcoin is a tool of tyranny and Fiat money is is a
real tool of progress and prosperity in the future.
So I'll, I'll try to pull that up for you guys throughout the
show. Yeah.
So we'll, we'll get to that. Also Phil C has a really
important point which is listen to this.
Some asset managers, compliance departments like Merrill Lynch
are not letting their clients buy the Bitcoin ETFs, the SEC
approved products. So we'll get to that.
There's a reason for that. Just hold your horses, we'll,
we'll, we we did the research for you guys.
That's why you guys tuned in to simply Bitcoin?
Yeah, and then and then we told you, Nico.
We'll get into. We'll get into.
We're gonna get into, I guess, a lot of ETF stuff today.
Niko is gonna cover all the ETF news for you, and then I'm going
to kind of cover more of like the framing and what you guys
can do as individuals out there. So it's an ETF pack show today.
Try to give you guys as as much sauce on today's show as
possible. So this is going to be a good
1A. 100% It's going to be a great show.
All right, guys, buckle up. Let's start the show.
Let's hit the numbers. Let's do this the Bitcoin
numbers. Is your Bitcoin and cold storage
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At the time of recording, the Bitcoin price is 45,830 SATS per
dollar. 2182 Market cap $898 billion Declined from all time
high 33.5% days since all time high 791 days Bitcoin versus
gold market cap 6.69%. Supply of Bitcoin held in
corporate treasuries around 10% Total Lightning Network capacity
4798 Bitcoin block height 825,343.
The block height makes an all time high every single show
anyways, so we're. Gonna Niko, Niko, before you go
into this, can I found the tweet let's.
This is. I'm gonna get to that.
I'm gonna have. This.
That's part. That's part of the numbers,
brother. OK, cool.
I got you. But good.
Look, we're In Sync today, brother.
We're In Sync. We're In Sync.
So you saw the tweet, you. Saw the tweet, I just didn't
know who you're referring to. But that's literally what I'm
gonna make the numbers section about today.
So awesome. OK, we're In Sync.
Holy crap. Opti and I have been doing this
so long, we're just, you know, all of a sudden he's going to be
growing a blonde tip. OK, anyways, all right, so these
Wall Street just keeps making commercials about Bitcoin, which
is just crazy, you know? Guys I I just I just I just want
to take I want to make Opti and I you know just scream before we
get to the to the sauce. OK.
Congratulations anybody everybody.
If you have bought Bitcoin before January 11th of 2023, you
frant ran Wall Street. Frant ran.
Yes. Front run, Front run frant ran.
Frant ran. I'm creating a word.
I guess I traded it, but there you go.
So congratulations, you did it today.
I saw a lot of people talking about this on Twitter today was
Bitcoin's IPO. But there are no insiders,
right? There's no people that are just
going to dump it. And the Bitcoin that there is to
buy, I think it's like 2 million on exchanges, right?
The Hodlers are not selling that.
I don't know about you guys, bro, but when Bitcoin hits
$1,000,000 a coin, people are going to be like, you're going
to sell it. I'm like sell it to what?
Like that's the question. It's like when people ask you,
are you going to sell your Bitcoin?
What? Alright, what are you going to
sell it for like dollars? Like like is that is that what
you mean? Like no man.
OK anyways back to this. So Wall Street keeps releasing
commercials. This is the latest one.
This is from Grayscale diversifying into Bitcoin type
GBTC into your investment account today.
Or ask your financial advisor about the world's largest
Bitcoin ETF ticker. GBTC Bitcoin Investing begins
here. I think that's like the worst
one. Yeah, did.
You see the Vanek 1. Yeah, let's pull it up.
I got it. I got it right here.
Here.
I got it. Let me let me pull it up.
This one. This one's actually I I.
This one seemed much better than me.
All right, let's start this. The world holds on to old ways
until it can't. When Bitcoin was born, it broke
that endless cycle. It's not a defiance of finance.
Bitcoin may help guard against the government devaluing your
money. Finally, you can buy and hold
Bitcoin in an ETF with the Vanek Bitcoin Trust, Hodel.
Search the ticker HODL in your stock trading today.
That one's way better. Dude, that one I like that like,
'cause they they understood a lot of like.
Yeah, they're they're bitcoiners.
Like they understand a lot of the like kind of like Bitcoin
culture and all that. But also, did you see, did you
see the BlackRock 1? I did not see it.
Pull it up. I got.
You pull it up.
Pull it up. I was gonna.
OK, let's do it. Let's do it.
Yeah, you you do your bit after. Let's just play all of these.
Let's see Wall Street pumping our bags.
This one's a little longer, though, guys, but not as good as
Divanic. Digital asset adoption has
significantly accelerated over the past decade, with profound
implications for the future of finance.
Bitcoin is the original cryptocurrency to gain global
adoption and has continued to maintain its dominance despite
thousands of others coming into existence.
You might have noticed Bitcoin makes into our everyday lives.
From Bitcoin ATMs to various merchants accepting Bitcoin as
payment, further driving interest in what the future
holds for the cryptocurrency, investors have taken notice as
an institution's individual investors alike have been
adopting Bitcoin into their investment portfolios, with some
viewing it as a potential store of value and others as a
potential game changer in how money moves around the world.
But for many investors, holding Bitcoin directly can be complex.
That's why we launched Ibid, the iShares, Bitcoin Trust and ETF
that provides investors convenient exposure to Bitcoin.
Here are three things to know about Ibid access.
Ibid enables investors to access Bitcoin within a traditional
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Convenience IBIT can help remove operational burdens associated
with trading and holding Bitcoin directly, as well as potentially
high trading costs and tax reporting complexities.
Quality IBIT is built by BlackRock, a leading ETF firm
with expertise across ETFs and a history of innovation.
I can't take this out of it. You had to wait for that.
Like didn't. We like talking about it in the
internal slack. Like, bro, we make better
content than BlackRock. Oh, man.
All right, OK, so back-to-back to what we were talking about
during the numbers segment. So yeah, so Wall Street is just,
like dropping like, like these crazy commercials.
It's it's it's incredible. It's really awesome.
But I in other news, I kind of want to shift it because there's
other stuff that's happening, which is the haters are coming
out of the woodwork. First of all, I do wanna start
it off with the meme Elizabeth Warren.
This is a live view of her. Yesterday when the ETF got
approved, we know that she was colluding with Gary Genzer.
Shout out to Fox News for doing amazing reporting and
discovering that don't trust, verify, guys, Don't take my word
for it literally. It came out that Elizabeth
Warren was was sending Gary Gensler the questions before he
would testify in Congress. But this is Stefan.
He is Stefan and he says. Stefan deal.
I think he goes by like it's
like Digi economist or something.
He's quoted in pretty much all of the research that corporate
press and mainstream propaganda used to fund Bitcoin.
And you'll see something. You'll see once again, and the
ratio. And this is the power of the
Internet guys. You take agency, take action.
If you have a Twitter account. If you have a YouTube channel,
speak up. Say something.
The Internet has empowered you to circumvent the gatekeepers of
information. You now have a voice and you can
make your thoughts known. And again, like if you're not
speaking truth on the Internet, you know you're going to get
eaten alive. And that's exactly what just
happened here. So he says Bitcoin represents
serfdom, stagnation, subjugation to the tyranny of the
discredited ideas from the Middle Ages.
Fiat money represents a future of growth, sovereignty and
freedom and advanced information economy.
He has that like completely effing backwards.
I think this is a projection. I think that he truly believes
that you know, centralized control of money will be better
for humanity than you know than than Bitcoin.
And he and he really reveals something when he says
discredited ideas from the Middle Ages.
It's it's like like if money can exist of which they can't debase
of which the government just can't like print at their will
that's a nightmare for the central planners like I'll be
honest with you. So bit of projection here and
this is the, this is the last thing that I wanted to cover
during the numbers segment which is you know a lot of people said
a bunch of stuff and the European Central Bank.
Said the digital euro is public money issued directly by the
European Central Bank. Bitcoin is different.
It is a speculative asset that does not fulfill the
characteristics of money. So you can kind of connect these
two in terms of the logic on which they're thinking.
And it's basically like like, we can do your money better than
you could do it for. Like we can do money better.
Like as long as you give us total control, we know what's
best for you, you stupid peasant.
Basically. So and it goes on to say Bitcoin
is different, is a speculative asset that does not fulfill the
characteristics of money. I go on to respond, which is the
truth, right? And shout out Sophie for giving
me a like and pushing me over, pushing that over 300 and it's a
nice and I responded. I said Bitcoin is a public
Ledger that can be audited by anyone.
Anyone can get new Bitcoin by mining it.
The public cannot audit the ECB, only the ECB can create new EUR.
Bitcoin is public money for the people.
The euro is government money for the government.
So when you see comments like this and when you see comments
like this from the European Central Bank, they're status and
status believe that the state can do it better, right?
Bitcoin is the public money, and that's one of their talking
points. And remember, like if you are
not educated on the matter, if you are not informed, you will
fall for that. Don't allow them to capture that
argument in that narrative that Bitcoin somehow is private
money. I broke it down.
You can't make more EUR without going to jail.
You can't audit the European Central Bank.
You can't audit any central bank.
They'll laugh at you. You can run a node right now.
We recommend by the way Start 9. They have a deal right now.
You can check the details in the video description and you can
run a node. You can buy one pre built.
I have the Start 9 server pure. It's badass.
Highly recommend it. It's a workhorse or you can
build one yourself. You could download the Start 9
software on an old computer or something and run a node and you
can audit the Bitcoin. You know, the Bitcoin
blockchain, the Bitcoin network, whenever you want.
You can find out the total supply whenever you want.
You're not trusting anyone else. It is.
You're running your own version of the Bitcoin software, and so
that's one component. The other component is like, OK,
guess what they're saying it's public money.
You can't create more EUR, You can't create Fiat money.
Only the government has that privilege to do that.
If you invest in mining infrastructure, you can
literally start mining and making more brand new minted
money and and then check this out.
There's no special privileges. So if you are a government, a
king, an emperor, you have to get in line like everybody else
and invest in mining infrastructure.
If you want to mine more Bitcoin, you don't have the
privilege of being able to create money for free that
everyone else has to work for. So like, no Fiat money is the
private money. Fiat money is the special
privileged money. Bitcoin is the money for the
people, by the people. That is the reality, central
bankers. So don't allow them to take this
narrative and don't allow them to, you know, stand on their
high horses and try to dictate you and tell you.
Because whether it's Stefan or whether it's the European
Central Bank, you have to understand why they're saying
the things they're saying. And they fundamentally believe
that they know what's best for you.
That's what they're telling you. Not directly maybe, but if you
read in between the lines and you really understand what it is
they're saying, that's what they're saying.
And I don't know about you guys, but I think millions upon
millions of of of individuals making their own decisions about
their lives, about what information they want to
consume, about what money they want to use, rather than a group
of elitist central planners. My money is upon millions of
individuals making individual decisions, right?
That's literally the basis of capitalism, right?
So this is the death of central planning.
And I think these central planners are absolutely
terrified. And I think that's why they're
saying shit like this. Opti, what are your thoughts
brother? Yeah, I mean you know we say all
the time, we know our bias. Of course we think Bitcoin is
going up. We, we believe in the 21 million
hard cap, not only believe, we run the nodes and we verify and
confirm that there will never be more than 21 million Bitcoin.
And if you don't understand the mechanisms of Fiat money, if you
don't know how Fiat money is created, literally create
printing money out of thin air based on debt.
And you don't understand the Cantalon effect.
Like you can see how easily someone can gaslight you into
not understanding the mechanisms of our current Keynesian
economy. And if you're like an average
person that just looks at things on a very surface level, you
probably would believe what like Stefan Deal's saying or
Elizabeth Warren is saying, or we saw one of the one of the
SECI forget what what her name was.
It's like Caroline Crenshaw or what her position is.
She came out super hard against Bitcoin and was saying that, you
know, the complete opposite of what Gary Ginzer's trying to do.
Like again, the same things. Like it's for criminals, money,
we're. Going to get to that.
We have all the receipts. We have all the receipts.
In the new segment and and you could just see like and and you
call them statist and it just it's it's so obvious once you
understand what's going on like all these people and and the
majority of people would probably fall into the trap of
believing that the the sole person to create money should be
the government. When if you study any basics
amount of Austrian economics, you realize that hey, a money
not controlled by a specific government would benefit the
most people and it's just it's very hilarious in my opinion.
It's above that, dude. Listen, OK, let's.
Because we have to be fair, let's give them the benefit of
the doubt. OK?
Let's give them the benefit of the doubt.
Government. You.
It's it's true. You know, a government and
democracy is a true representation of the people.
Therefore, they have the sole right and the privilege to be
able, the ones to control monetary policy, right?
That's the theory, right? How has that worked out?
It's a been of excuse my language.
I'm sorry guys. It's been an absolute fucking
disaster. Endless wars.
If you are a millennial and I'll put, I'll, I'll say this if
you're under the age of 35, you cannot afford anything.
You're out priced out of the housing market.
Thank God for Bitcoin. Like if it wasn't for Bitcoin,
like, I I don't think I would have hope for the future.
So it it it like, you have to understand like and and here's
the thing, the Conciling Air conference is already releasing
the propaganda to like, make you OK with that.
They're literally telling you you'll own nothing and be happy.
Fuck that. I want to own something and be
happy. So yeah, like, I'm sorry they
shot the bed. What was the what was the quote
by Ron Paul? You know, it's not a coincidence
that the century of central banking is also the bloodiest
century in human history. I completely, fundamentally
agree. So yeah, governments, you had
it. You had an opportunity and you
shat the bed multiple times, over and over and over again.
What is? Javier Miley of Argentina says
no, I Plata. There is no money, right?
So yeah, no, it's time to try something new.
Of course, you know, the people that benefit from that money
printer, the status, the central planners, of course, you know,
they're going to be upset with this.
So anyways, I do want to give a. Shout out one more thing I want
to say, because it's on this point.
You know there is only one permissionless money in the
world. There is there is only one money
that you don't need the favor of the Emperor to to and be
involved with it. Like you, you don't need to ask
anyone. You don't need a middleman.
You you you can't print more of it.
Like there's only one money in the world that is immune to the
debasement of the currency of the money by governments and
that is Bitcoin. And I don't know about you, but
I much prefer using a money that is not controlled by a
government, that's not controlled by a specific
organization. That's why Bitcoin is freedom
Money is because there's no one that you have to go to and ask
permission to use it. Or you know, you can't create
more of it. Like there's only one freedom
money in the world in this Bitcoin anyways.
Go on, Nico. 100% No, I think you said it beautifully.
Anyways guys, if you are watching the show, it really
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So we appreciate you guys and we wouldn't be here without you.
So anyways, no more delay. Let's jump straight into the
news. We have a lot to talk about
today. Let's check it out the Daily
News. I want to give a shout out to
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self custody incredibly easy. OK, so I do want to address the
topic of today's video. So the ETF has been approved but
you guys are not bullish enough. I'm I'm going to take that quote
from from from CK here is a very famous Twitter spaces that
Michael Saylor participated in. Mind you this was back.
This was two years ago. This was in 2021 November 10th,
2021. Holy cow long time ago and let's
check out. He says there's three things
that needed to happen in order for Bitcoin to hit $5,000,000
per coin. Let's check it out.
We. Want to do that?
Then you can get in ahead of everybody else, and if you
won't, you wait and you buy in when it's 10X more.
And and you think the catalyst that 10X is, it really is the
moment that JP Morgan Chase or or other big money center banks
can custody these for large corporates.
That's it. That's the sea change.
Because there's really no reason why they shouldn't be
diversifying the assets on the balance sheet.
Is that is that your take? Because I know that like Tim
Cook, I don't know where it came from.
Earlier this week he said something like I own some
Bitcoin, but we have no designs on anything or I don't know if
he said Bitcoin or crypto in general.
Is that the thing? And then and then and then
there's three. Look first of all it's going up
by a factor of 10 whether they fix any of the stuff right.
It's going to go it's going to be a grind up by a factor of 10
just because gold is broken and bitcoin's going to replace gold
and now everybody in the universe knows they need a non
solver and store of value in the form of a bearer instrument.
So now they're looking the the amount of stories for last year
people said inflation may be coming we're not sure.
Now the mainstream narrative is flipped to inflation is here you
need inflation edge so it's going to grind up to replace
gold. It look at $500,000 a coin
regardless of why they fix these things but there are three
things that are massive catalyst that cause an acceleration and I
don't think that those three things don't take us to 500,000
they take us to 5 million a coin right.
Those three things are a spot ETF where someone can go ahead
and buy $100 million of Bitcoin via security.
An ETF security I think that's 1/2 is your bank is going to
custody it for you and lend against it.
And three is I can mark it up, I'll mark it down on my balance
sheet based on fair value para pursue, it'll be para pursue to
the way I handle apple stock or at least that good if it's if
you have property with fair value accounting by the way it
becomes para pursue to the way you handle treasury bonds on a
treasury balance sheet. Treasuries are better than
stocks because treasury is property whereas a stock is a
security and you're capped out at 40% of your balance sheet of
security. So.
So it would be a major, major breakthrough if if you saw any
of those three things. And I'll end with this one
observation. I tweeted this last week but I
still I think it's very powerful.
It's if the banks can hold this stuff on their balance sheet,
then a whole new class of investors are going to buy it.
People are going to put in billion in multi billion dollar
orders to buy it as a treasury asset.
Nobody's going to sell it because because there's no
reason to sell it if you can borrow against it at Libor plus
art silver plus 50 basis points, right.
So you'll be you'll be barring as Bitcoin.
So for plus 50 or so for plus 100 basis points no one's ever
going to sell it. And then as I joked you won't be
able to afford it. I mean you will be able to
afford it. But you know, everybody gets
Bitcoin at the price they deserve when the banks normalize
it and you can draw $100 million credit line at 100 basis points
from an FDIC insured bank at that point, right.
We're going to blow through the market cap of gold by a factor
of 10. So I, you know, I think the best
thing is those three things are highly likely to happen.
I don't know if they happen in 36 months or 24 months or 12
months, but I would be shocked if it's more than 36 months.
And I hope, guys, I hope it doesn't happen in 12 months,
because my view is the longer it takes, the the more progressive
the grind, the more time I have to buy more of it.
And he was absolutely right, ladies and gentlemen, Michael
Saylor being prophetic, November 10th, 2021.
Those things have. Happened so less than 36 months.
So you know a spot Bitcoin ETF was approved.
The the FASB ruling was also approved.
I saw a comment in the comment section talking about what is
para pursue, para pursue mean. It's a Latin phrase and the
English translation means on equal footing, right.
So if stock and Bitcoin were treated on equal footing on any
on an accounting level, it would, it would, it would be, it
would be good for companies to hold it without the accounting
nightmare. And this changed by the way it
was announced, actually in December 13th, 2023.
We we covered it on Simply Bitcoin Live when it happened.
So this is crazy historic moment.
Now, the third thing that Michael Saylor said that needed
to happen was banks having the ability to custody Bitcoin for
their clients. Opti, I'm letting you right now.
The new segment is gonna run a little bit long today 'cause I
have a lot to. Cover.
That's cool. That's.
Cool. So but this is crazy historic
moment. Now let's go through it.
Franklin Templeton. Literally their their thing on
Twitter, it's Benjamin Franken with with laser eyes.
Like, could you have ever have imagined this?
This is absolutely nuts. Guys.
I I mean, Opti, you've been here a minute, right?
We've been here a minute. You know it's my eighth year.
It's your 7th year. Like dude, could you ever have
imagined that Bitcoin legal tender happening, public
companies holding Bitcoin on their balance sheet, This now.
It's literally the Bitcoin IPO today.
Like this is crazy. This is nuts.
I can't believe how far we've come here.
Is Max Keiser really? And I I agree with this by the
way, Lop, who's the CTO of Casa, said today is the end of the
beginning for Bitcoin. The middle will mark the biggest
explosion and mark cap with huge gains for Bitcoin.
Again, and I completely agree, this is the beginning of the
end. This is the end of the
beginning. We're no longer in the innovator
or the early adopter phase. Wall Street is here, right?
They're not quite here. We'll get into the details of
that in a second, but this is extremely, extremely exciting.
Here's Adam Back's takes on what has been happening with the spot
Bitcoin ETF. He goes on to say.
So Tradfi let the Bitcoin Apex Predator into their China shop.
Doors open in 24 hours. Supply squeeze volatility 24/7,
High leverage with the ETF. Market makers and APS have
enough liquidity or or will things get crazy.
Everything hits spot in a supply squeeze and spot is thing.
A spot is thin and he you know he goes on to GIF with the with
the a Tyrannosaurus Rex and he Adam back says Bitcoin apex
predator on the trading floor. Let's go.
I completely agree this is a really, really useful graphic.
This was when the Spot gold ETF was approved in November of
2004. Take a look at what happened to
the price shortly after. Right now, we'll get into the
details and we'll compare because I think it's the best
comparison how long it, how long it took for these institutions
to start 'cause it was approved. But that doesn't mean that like
for example, Merrill Lynch or Vanguard are are offering it to
their clients yet. That takes a while.
That takes some time, right. So we'll get into the details of
that. The ramp up just isn't
overnight. So here is here's another
example. BlackRock actually tweeted this
out out and it BlackRock is recommending this Bitcoin
performance compared to major assets like come on now
cumulative 300 and 315,000% analyzed 124%.
So BlackRock is even telling you like look, Bitcoin is the thing.
Like Bitcoin is where it's at. Absolutely crazy.
Now before I get into the saltiness of the approval from
Elizabeth, sorry, from Gary Gensler and some of the SEC
commissioners as well as other SEC commissioners that were
actually pretty hyped that I got approved, I do want to cover
this because I believe it is important.
So some news came out and I did a little bit of research and
I'll read you guys something that I found out, which is it
seems like other financial institutions are not yet
offering this. So here's Neil Jacobs.
He says I have a retirement account with Vanguard.
I called them and they said they will not be offering any of the
Bitcoin ETFs. I'm working on transferring
assets out of there and then I will close my Vanguard account.
Terrible business decision by Vanguard.
Here is Steven Lupka. Steven Lupka is the head of Swan
Private also a great guy. Worked with him at when I worked
with him a lot when while I was at Swan.
He goes on to say Vanguard City, Merrill, Edward Jones, UBS are
all being reported to not allow clients to trade the ETF.
Now I did a little bit of research of why that is, why
that is happening, and I'll read you guys what I discovered.
So I believe that this is from. This is a report from Bitwise.
Yes, it is a report from Bitwise and it goes on to say everyone,
I everyone wants to know how much money will flow into
Bitcoin ETF. That's hard to say.
I've seen long term flow estimates of 30 billion to 200
billion. But one thing we do know is that
the flows won't won't come all at once.
In fact, it's more likely that they will build over time.
It goes on to say in here are so the inflows for gold.
So it was approved. The Gold Spot Bitcoin ETF was
approved in 2004, 2004. The first year was 1.5 billion.
The second year in 2005 it was 3.3 billion. 2006 4.8 2007 5.6
2008 11.2 billion 2009 19 billion You guys get the point
right? So it wasn't this like all at
once flood. It started to trickle in.
Now he goes on to say, and I think here's the sauce, here's
the signal and all this there's there's a reason for the slow
build up. For instance, although ETFs make
it easy for many people to invest in an asset, they aren't
automatically approved on all platforms.
It takes time for instances, for conservative wirehouse
brokerages like Morgan Stanley and Merrill Lynch to approve new
ETFs. Now, I know what a lot of you
guys are thinking like, OK, but they're not going to improve it.
Well, This is why the Neil Jacobs tweet is so important, my
ladies and gentlemen. That is market forces doing what
market forces do best, right? That is literally market forces
saying, oh, you're not going to improve it.
I'm going to take my business somewhere else.
So they can only grandstand and do this for so long until they
continue to lose customers, right.
So that's something to keep in mind.
And now the also the other thing.
Opti, do you have any comments on this before I move on to the
next section? No, I mean, I I think this is
par for the courts. Like you'd have to be asleep or
not thinking critically if you think that the banks aren't
going to fully embrace Bitcoin. And it's just a matter of time
until everyone out there realizes that they need some
Bitcoin ETF exposure. It it wasn't gonna happen
overnight. But continue, continue. 100% OK,
so let's talk about how the SEC reacted to this.
Now. What's absolutely crazy, guys,
is that Larry beat Gary. Larry kicked Gary's metaphorical
ass, right? Clearly the Biden
administration, clearly the SEC did not want to approve this.
But they were under so much pressure from these institutions
that they literally, they they couldn't, they couldn't stop it.
They literally could not stop it.
They lost on the court level. They lot like the the
administrative state, the government forces that were
against the approval of the spot Bitcoin ETF, they could not stop
it. That doesn't mean that they
weren't salty approving this thing.
And that tells me and that actually gives me a little bit
of hope that yeah, governments are going to have a hard time.
Like they're going to have a hard time.
Like, unless you're in like communist China where it's like
a total dictatorship. If you live in a country that
has somewhat of a democracy, as much as the government does not
want to approve it, they're gonna have a really hard time
because the market forces are gonna want it so bad.
So let's take a look at Gary Genzer wrote this entire
response essentially you know what his comments were on the
here it is. Sorry about that.
He wrote entire response on what his comments were on you know
the approval of this it they they they they handled it
terribly like the day before they tweeted out it from the SEC
account. The SEC account was hacked in
the past. They were like, don't trust any
information unless it comes from the SCC.
Their account gets hacked. Then they blame Twitter.
Then it was discovered that that it's because they didn't have
their two FA on like. And then they were telling
people to turn on their two FA. Like, they don't take
responsibility. It's like rules for thee but not
for me. Like, I don't know, it's just
crazy. So he did write like his, you
know, a statement. He was very, very critical.
Salty. Here's Nick Carter.
You know, I think this is like the best part of this, and I
love Nick Carter's comments. I used to flip the board over
when I lost risk or Monopoly, even if I wasn't this sore of a
loser. And here's what Gary Lenzer had
to say. Though we're merit neutral, I'd
note that the underlying assets in the metal ET PS have consumer
and industrial uses, while in contrast, Bitcoin is primarily
primarily a speculative, volatile asset that's also used
for illicit activity including ransomware, money laundering,
sanction evasion, and terrorist financing.
While we approve the listing and trading of certain spot Bitcoin
Etps shares today, we did not approve or endorse Bitcoin.
Investors should remain cautious about the myriad of risk
associated with Bitcoin products whose values tied to crypto like
like Bro like and again like ransomware, Money laundering,
sanction evasion, terrorist financing.
Ladies and gentlemen, 99% of illicit finance is is done
through the traditional financial system.
So like what is he doing? Like it is And this is like a
totally Elizabeth Warren, just like, OK, we have to say
something you know like it it. I have to go back to this OPTI,
this is Elizabeth Warren, this is right now terrorist financing
warrants and Warren, this is financial guidelines.
It's approved like it's so ridiculous.
Anyways, and here's the legendary beauty ion, founder of
Azteco. Great, no KYC way of acquiring
some stats. Before I read what he has to
say, I do wanna read some comments from SEC Commissioner
Crenshaw and it goes on to say I am deeply concerned.
And of course this is commenting on, you know, on the ETF
approval. I am deeply concerned about
today's actions. I am concerned that these
products will flood the markets and land squarely in the
retirement accounts of US households who can at least
afford to lose their savings to the fraud and manipulation that
appears prevalent in the spot Bitcoin markets and will impact
the ETFs. I'm concerned that today's
actions will create the in aim premature of Commission approval
and oversight of the underlying spot markets, when really no
such oversight exists. I am concerned that they will be
confusion about what exactly these products are.
They are not ETFs registered under the Investment Company Act
of 1940, the ubiquitous products that today are used by millions,
savings for retirement, and that investors may infer protections
that do not in fact exist. I'm concerned about what comes
next. What new, potentially more
speculative products bearing greater risk of investor harm
seek to list. We will hear a chorus of well
heeled voices saying that the SE CS hands are tied by the new
standards that we have set. I fear that today we are setting
ourselves up for tomorrow's failure and it will be the
investors that we have a duty to protect who will ultimately pay
the price. OK.
I want to focus on the last part.
I fear that today we are setting ourselves up for tomorrow's
failure and it will be the investors that we have a duty to
protect who will ultimately pay the price.
The first spot Bitcoin ETF was introduced was introduced 10
years ago. You know what the price of
Bitcoin was 10 years ago, $100. Are you protecting the people
that you say you're protecting? Are you protecting them from the
ravages of inflation? Are you protecting them from
that? I don't think it has anything to
do with that. I think it has to do with the
fact that once people get a whiff of the power of saving in
Bitcoin, not trading Bitcoin, the power of using Bitcoin as a
savings mechanism, it reveals the scam of Fiat money.
And I think that's what this is about.
I think that's why the the current administration fought so
hard. I think that's why Elizabeth
Warren fought so hard. I think that's why Gary Gensler,
that we know was working with Elizabeth Warren colluded with
Elizabeth Warren, fought so hard against that.
That's what this is about. This whole message was literally
about trying to protect the government's privilege of being
able to create money for free that everyone else has to work
for. And you can connect it with this
and you can connect it with this.
It's the same wording. That's what it's about.
Because if you actually look at the numbers, what is actually
happened over the last 10 years, this would have done wonders for
investors. It would not have hurt
investors. So again, bull.
I'm calling bullshit here. OK, moving on.
Nick Carter points out something really well.
He says it was the judicial system that did this despite the
best efforts of the executive branch.
The courts are our friends, right?
Because it makes sense. Like they they it didn't make
sense why they weren't approving this.
Here is Tom Emmer. Tom Emmer is the GOP Majority
whip, and he says here to stay. This is a result of an emerging
industry fighting for the future of this country, for for the
future of this country, against tremendous odds and prevailing
over the tyrannical bureaucratic roadblocks 100%.
Now here is really, you know, the cherry on top and I think
the best saying, and this is from an SEC commissioner.
Now, what's really interesting, guys, and I'm going to point
this out, OK, And once again, guys, you guys know that we are
apolitical on simply Bitcoin. I want to emphasize this enough.
I can't emphasize that enough. But those comments from Gary
Genser and from the other commissioner, they're both
Democrats. The comment from Hester Pierce,
she's a Republican and Senator Warren's bill that's in Congress
right now, that would be a de facto ban on self custody and
the mining industry. Even though it's a bipartisan
bill, the vast majority of those 20 senators, I think it's like
two or three Republicans. The vast majority of them are
Democrats. So it's not black and white
clearly. And you guys know that we don't
believe in the traditional, you know, party system.
We don't lean red or blue. We lean orange verse green.
But it is troubling concern. It is a troubling concern.
So if you live in a state, right, I suggest that you look
up who your senator is and who's, who's your
representative. And if they are against Bitcoin,
they're against you holding a money that cannot be debased.
Plain and simple. So anyways, I think this is the
best saying and shout out. Zach Herbert, CEO of CEO and
founder of Foundation make awesome hardware wallets, of
which we recommend the passport. And he posted the screenshot of
Hester Pierce's comments. So first, our arbitrary and
capricious treatment of applications in this area will
continue to harm our reputation far beyond crypto.
Diminished trust from the public will inhibit our ability to
regulate the markets effectively.
Let me ask you guys something. After the debacle yesterday by
the SEC telling you oh you should multi sig your your your
devices, the other thing that they said you should, you know
you should only trust what the SEC has to say.
And then their tweet is literally a tweet that
manipulates the market. What is that but not diminishing
the trust from the public right. This saga will taint future
interactions between the industry and our staff and will
dampen the rich, informative dialogue that best protects
investors. Second, our disproportionate
action on these filings has diverted limited staff resources
away from our critical, our mission critical work.
Over 10 years, likely millions of dollars of staff time has
gone towards blocking these applications.
We've been making the case on Simply Bitcoin for a very long
time that we believed that the reason that they're blocking
this was for political reasons. If that is not a smoking gun, I
don't know what is goes on to say.
Third, our actions have muddied people's understanding of what
the SC CS role is. Congress did not authorize us to
tell people whether a particular investment is right for them.
But we have abused administrative procedures to
withhold investments that we do not like from the public.
That's executive action. That's not democracy.
And you know, you always say that's it's democracy.
It's democracy. First of all, America's not a
Republic. Democracy is a Republic.
It's a represent. It's a representative Republic.
But put that aside, Fine, that ain't democratic.
That's like a dictatorship, right?
Like the said, it's like we agree with this, We don't agree
with this. Like that's the problem 4th.
By failing to follow our normal standards and processes and
considering spot Bitcoin ET PS, we have created an artificial
frenzy among around them. Absolutely true.
Had these products come to market in the way other
comparable products typically have, we would have avoided the
circus atmosphere in which we now find ourselves 100% true 5th
We have alienated a generation of product and innovators within
our space. Our unreasonable approach to
these applications have signaled that regulatory prejudice
against these new products and services can can lead us to
sidestep the law and unreasonably delay product
launches. The industry has logged hundreds
of meetings, has filed submissions, withdrawals and
amendments, and ultimately had to resort to a costly legal
battle to get us to today. So I I got to say this, is this
truly a government by the people, for the people.
I do not believe that's possible as long as Fiat money is a
thing. What this signifies to me is
that this is a government that is more interested in protecting
their privilege. That's what I am, That's what
I'm seeing here. At least some people are aware
to that. At least at least some people in
government, some representatives in government are aware to that.
Now lastly, before I pass it on to Opti, I think beauty on said
this perfectly, Beauty on said this beautifully.
That's very fitting. So Crenshaw started with the
phrase I am deeply concerned, So beauty on did the same thing.
I'm deeply concerned. I am concerned.
I am concerned investors may
infer. I am concerned.
I fear we are setting ourselves up for failure.
No American talks like this. America could not have been
founded if the people who took risks to sail to her shores
thought like this. Even after 100 years, Crenshaw
would still be terrified of Bitcoin and of any change to
what he already barely understands.
If Crenshaw were in charge of anything, you would still be
sending telegrams sent by Morse. America is not Europe.
It is a country of explorers and risk takers.
That's why she is so great. Does Grenshaw really think that
a Bitcoin ETF crash could be bigger than the biggest crashes
that have come and gone and that everyone survive?
Survived. What sort of America does
Crenshaw really want? One that has no risk, no
innovation, no experimentation. How does Crenshaw think America
got to the moon and back from drawings on paper?
If Crenshaw is terrified of Bitcoin, he should use his fear
of it as a market signal and offer services to investors
where they're guaranteed of insulation from exposure to it.
Anyone who is fearful like him can profit from fear, while
everyone else who wants the risk can take it.
Why does Crenshaw think his fearful, ignorant and cowardly
opinion should override the thinking of every other American
in the US who made him the boss of all these markets?
Why is his personal fear the gold standard by which everyone
else must live? It isn't.
Crenshaw is a template personality for anti Bitcoin or
anti Americanism. If the American system works, he
can have his opinion, but it can't prevent anyone from
experimenting in the market. If Crenshaw wants to live in the
E in an EU style undemocratic society, he should move to the
EU, where innovation is dampened and squashed and he can feel
safe leaving America to Americans.
And he can watch Americans go to the moon with Bitcoin and then
go to Mars with Elon Musk's on laptops invented in America.
As a first generation immigrant, I was sold on that idea of
America as America being the vanguard of innovation, the
place that you come for opportunity.
I was not sold on this Frankenstein Fiat, motherfucking
version of America. I'm over it.
It's done. So I'm glad this happened.
Historic day for Bitcoin and it happened.
The ETF was approved the day that Hal Finney said he was
running Bitcoin in 2009 and the day after Bitcoin publicly IPO D
Absolutely incredible. This is insane.
This is amazing. I can't believe this.
Buckle up guys. It just keeps getting better
from here Anyways, Opti, what's your take on this?
I almost teared up man. That was that was that beauty
on, bro. That's some that's some fire
shit. Some fire shit.
I. I love the Twitter anyways,
maybe I'm going to have a little contrarian take to what you're
saying Nico, because I'm kind of OK with the spot Bitcoin ETF
taking this long because it gave us all an opportunity to stack
cheap sats and Wall Street wasn't coming into Bitcoin and
and able to Co-op Bitcoin when it was still a baby.
So. I, I, I don't want to ever agree
with the SEC basically. And I don't want to say they
actually maybe did do some sense of protecting consumers in in
like not the way that they think.
Just so that the Larry Finks of the world didn't come in and
scoop up all the Bitcoin when it was still a baby and not really
spreading throughout society. So I'm kind of OK with them
taking this long to be completely honest, but this does
mark the beginning. Opti is no longer with simply
Bitcoin anymore. Opti is a statist.
No, I'm saying the Well, I don't know.
Yeah, maybe the. I'm just kidding, bro.
No, no, no, no. They did something good.
It's good to have a contrary in it.
But what's? No, no.
But what makes you say that? What?
Makes you well. It's because Bitcoin what the
man I'm blanking on, the twins, what's their name again?
The Winklevite. The Winklevite wanted to get an
ETF approved in like 2015, right?
Bitcoin was still a baby. Like, we didn't even go through
the fork wars. We couldn't even, we fully
didn't have a public war or a public example of who actually
controls Bitcoin. You know in 20/16/2017, the
thought was that businesses you know, businesses controlled
Bitcoin and miners controlled Bitcoin.
And if we had gotten an ETF approved by then, I'm sure that
Wall Street would have put their the might of the money printer
behind whatever fork coin they wanted.
And we, we made it end up in a place where Bitcoin becomes at
dystopian tracking tool that we all want to avoid that we see
coming down the pipeline with CBD, CS.
And so I think in in in like kind of a backwards roundabout
way. The fact that it took this long
and maybe it was political. Maybe it was Elizabeth Warren
and Co you know talking to Gary and making sure that this ETF
wasn't approved on his watch or what have you.
You guys can speculate on all of the reasons why it took this
long. I I think it's kind of a good
thing that it took this long because now Wall Street has to
scramble for what the last 1.5 million coins and then most of
Bitcoin is in cold storage. So I'm kind of OK with it taking
this long. Of course now this kind of gives
us legitimacy. Like I I was thinking when this
got approved, like what What would my dad say right now?
You know he's a boomer. I love him.
He loves gold. He even tries to shill silver on
me sometimes. With my dad it it is Bitcoin.
Come on, man. Anyways, I I like, I haven't had
an actual conversation with him, but I did kind of text him and
for people like him and not not the cool boomers that hang out
with us, that know why Bitcoin is important.
Everyone else like this gives us some legitimacy and they're like
the adults are here. That's why I was trolling and
wearing a pseudo suit because that's the game being played
like we have some sense of legitimacy.
We wear suits now, take us seriously, and Bitcoin doesn't
need that. But this is where we are and for
better or worse, people do look at authority figures for
legitimacy. And now for for better or worse
guys, we have that legitimacy now that Wall Street is getting
exposure to Bitcoin. So with all that being said, I
am also very tired of the nanny state and that, like in my
opinion, it's really insulting that that they, without saying
it, they're like, yeah, you're too stupid to know what you can
invest in. Like you need our protection so
that you know you don't wreck yourself like you stupid
peasant. Like to me, that's what I hear
every time I hear stuff like this.
And of course it's always about control.
They can say whatever they want about, oh, we're here to protect
the consumer. And Nico, that tweet you put up
yesterday about protecting the consumer with their hacked SEC
account and the market dumped, like they can't even protect
their Twitter account and they're here to protect the
markets. Like, it's it's just Keynesian
hubris, in my opinion. But hey, this is where we are.
The nanny state's going to nanny state and it's always about
control. But now we have the price
exposure from Wall Street and everyone and their mothers
scrambling to be the top dog in these ETFs.
And like, this is where we are in the story.
So hopefully we don't have to talk about an ETF.
Anymore. No, it's over now.
It's time. It's it's over dude.
Like, I mean like what is? What else is there to?
Say like we've been covering it for so long, you know, macro,
macro, macro, but macro, macro, yeah, man, like here we are.
It's going to be interesting to recap maybe in a couple of
months and see who the top three ETFs are and and the flows going
in. And anyways, we are running
long, Mika, so if we're gonna do the culture, maybe we should do
that real. Quick let's absolutely do the
culture. But first, I do want to give a
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All right everybody, let's get to the culture.
We have a lot to talk about today.
Let's check it out. The daily Culture brought to you
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Visit swanbitcoin.com today. All right guys, so I'm going to
do this quick since the news was very long.
But anyways, I said I wanted to kind of talk about the framing
here and what does bitcoiners think and this is the culture.
Anyways, so we're going to tell you what we think.
This is the point of this what what I think the best things to
be doing. So shouts out to my boy Don Bay.
He tweeted this this morning. Bitcoin is front and center
homepage for BlackRock, bitwise Vanex and Templeton and you guys
can see the screen share here. You know BlackRock, their
iShares. Everyone's pumping their ETS.
They're you know, they're all on the first page.
It's front and center. We're getting Wall Street
marketing Bitcoin on one hand, you love to see it.
On the other hand, you shouldn't be buying the spot Bitcoin ETF.
Take Bitcoin into custody. This is basically what the
rant's going to be today. But anyways, last week we saw
this come out from the Financial Times and opinion piece.
This guy said my new New Year's resolution is Bitcoin.
So we're seeing already that people just with the quote, UN
quote legitimacy of the black rocks the institutions, Wall
Street's getting into Bitcoin and wanting exposure of Bitcoin
and and of course, you know the the the regulatory attempt to
capture Bitcoin, good thing most Bitcoin is in custody and they
can't stop Bitcoin. Yes they can try to put a
wrapper on it and try to funnel as much Bitcoin as possible but
they're going to try to you know pump up the price and and sell
force you to sell your Bitcoin via incentives.
Anyways we were all kind of talking about what was going on
with the Bitcoin price. Of course I don't like to show
the charts too much here but it seemed like it was a sell the
news story or did pump to like 49 K this morning.
I think what most of us didn't realize or rather most people
out there didn't realize. It's like all the flows of of
capital aren't going to overnight go into Bitcoin like
your parent. Like I I'm seeing people in the
chat say like now my dad wants to buy some Bitcoin.
So this process is going to take a little bit where people now
are going on. I don't know BlackRock, Vanek,
all the websites now of Wall Street and they're like oh wow
OK Bitcoin ETF just got released.
Cool. Maybe I need to look into this.
This is that market signal showing that hey, Bitcoin has
some legitimacy. It's maybe not just for
criminals and money launderers and shadowy super coders and
whatever they call us, but I think what we're missing is
summed up great in this tweet shots of the Charles Edwards
because the ETF news is massive, but no one is even talking about
Bitcoins, biggest having ever on April roughly April 19th, 2024.
It's just three months away and it will be the first time that
Bitcoin becomes harder than gold, which historically has
been the best store value. So as we know we're going into
the having it's a couple months away, the ETF is cool.
It's obviously been a lot of speculation and if you're
looking at the price, it's kind of a nothing burger right now.
I I think it'll just be a slow delay of people getting their
capital in the Bitcoin. We're seeing a dump right now
because I think people are dropping from GBTC into other
ETFs and we got CPI numbers today and it seems like the
whole market's in negative. Anyways, shouts out the Marty
bank because he summed it up great and he goes trad 5 Bitcoin
ETF Influencers really don't understand Bitcoin.
The dollar's complete, the basement is inevitable and
people are going to need direct access to the next reserve
currency AKA Bitcoin to operate through the economy and and ETS
don't enable that. And as we tell you guys all the
time, This is why it is self custody or slavery.
As Nico tweeted, This is why you run the nodes.
This is why we constantly tell you and try to inform you the
best ways to take Bitcoin off exchanges, to transact
peer-to-peer. Because what really matters is
people holding self custody and before XX starts yelling me
yelling at me in the chat about billionaires and boomers not
wanting to take their assets into self custody, we totally
understand this. We totally understand that if
you have money in a 401K or whatever, you can't at least as
of now get exposure to Bitcoin. So of course some exposure to
Bitcoin is better than no exposure to Bitcoin as far as
I'm concerned. And so I think that spot Bitcoin
ETF, even though it's been hyped up and we've been talking about
it for forever now and we do have the three steps to taking
Bitcoin 25 million that Sailor was saying, which was what an
ETF, the FASB rule change banks custody and Bitcoin.
Which I personally don't like the banks custody.
But that's a totally other story.
Even how Finney was talking about the fact in the earliest
days of Bitcoin that there will be full reserve bitcoins and
there will be fractional reserve bitcoins and the market will
learn their lessons the hard way.
So hey, if it's a matter of Wall Street pumping our bags to teach
Wall Street a lesson about custody, I am all for this, I'm
here for this. But you as the individual out
there take custody of your Bitcoin.
Yes, I do think this year is going to be an important year in
because in regards to bitcoins price action, now that we do
have Wall Street money, being able to get exposure to Bitcoin,
I think we're going to see a slow grind up again.
You know, maybe the response in the price was lackluster, but I
I think everyone was was smoking the hopium and thinking that the
Bitcoin price was just going to go absolutely parabolic on the
release of an ETF. But hey, we saw what happened
after the SEC hack tweet and all the short all the longs got
liquidated. So here we are, this is where we
are in the story guys. So again, I did this as quickly
as possible because we are running late.
But TLDR guys, yes spot Bitcoin ETF gives us legitimacy.
Like that tweet? Oh yeah, Like, yeah, simply, We
didn't retweet. We'll retweet.
We'll retweet What I said. Yes, it gives us legitimacy, but
you guys out there should be buying spot Bitcoin, not the
ETF. Just a real.
Bitcoin. Just buy a real Bitcoin.
Be a pure coiner. Use real bitcoiner.
And like all this noise, this is all noise, This is Wall Street
trying to pump their bags and get into the game.
And like we're seeing, we're seeing that Wall Street and
government officials are trying to capture Bitcoin.
They're trying to regulate Bitcoin.
And the best way to protect yourself is running the nodes
taking Bitcoin into custody. Yes, maybe your dad never going
to hold Bitcoin directly and he just wants exposure to it.
This is, this is all good for Bitcoin.
And on that note, Nico, we have been getting some some comments
on our YouTube about you guys watching the channel.
I don't know if you guys are trolling us, but you guys, you
guys say you love the channel and you are asking us to help
you to walk you through one-on-one.
We have multiple of these. So this is just something we're
floating around. Guys like you we give you guys
the sauce every single day on the show.
You guys can learn how to do Bitcoin like for free on the
show. I do my best on the culture to
give you guys actionable advice. You know our boy BTC sessions is
doing the tutorials on how to do this correctly but we understand
that people are afraid. So I don't know.
Let us know in the chat or in the comments of YouTube if you
guys would want us to give you one-on-one.
You know hand holding here and showing you guys how to take
Bitcoin into custody. But like I I do my best to show
you guys for free on the channel and it this is what you need to
do. Guys, yes, Bitcoin ETF is cool.
Yes, we're going to have the Wall Street marketing team
market Bitcoin, and now everyone and their mother will know
Bitcoin. They'll they'll at least be
exposed to the signal. But you didn't take Bitcoin into
custody. Most Bitcoin is already in
custody, and I've been saying for a while, you're going to
have to make it through the huddle.
Buyout zone. BlackRock will have to.
Or Wall Street. Whatever you want to use,
whatever nomenclature you want to use, we'll have to
incentivize you to sell your Bitcoin.
But if you've been watching this show for a while, then you
should know why you hold Bitcoin.
And again, I I referenced the white paper like every single
time I bring this up, it was literally the first paragraph or
the second paragraph in the white paper.
The reason for the creation of Bitcoin is so you don't have to
trust middle men, You don't need trusted third parties to
interact with your money. So on that note, I would not
trust these institutions to custody your Bitcoin.
Yes, if if for whatever reason you have your 401K and you can't
get spot Bitcoin directly, you know exposure to bitcoins better
than no exposure to Bitcoin, and I would want that too.
But you don't need to trust the trusted third parties.
If you can, and most of you can, you just buy Bitcoin directly.
You either transact peer-to-peer or you use an exchange.
Or you know you just sell your goods and services for Bitcoin
but you want to set up a wallet that you own the keys because
then you can avoid the rug pools.
And the rug pools will continue until self custody improves.
So guys, we have the marketing team of Wall Street now chugging
along pumping Bitcoin. And I think this year we will
see a increase in price movement, an increase in
liquidity and volume going into Bitcoin.
And yeah, maybe, maybe the release of today of the ETFs was
lacklustre because everyone thought it was just going to go
absolutely nuclear. It's just part par for the
course, guys. Make sure you're taking custody
of your Bitcoin control. The keys transact peer-to-peer.
Hold that Bitcoin long term, it is the best store of value in
the world. Anyways, Nico, we are going long
so. We are, we are, we are going
long. We have a chat about 3038%.
It is like it is like kind of live about 35.
Thirty 40% of you guys 36 votes said that you do want us to
offer one on ones to help you take self custody.
About 60% of you guys, I'm assuming you are you guys are
already hardcore bitcoiners and you already know how to take
self custody. 60% of you guys said no.
So it looks like there is a portion of you guys that you
know could potentially want that.
We're going to discuss it internally.
It's just we've been seeing these comments and then we're
just kind of like that's interesting.
I also do want to mention BTC sessions is incredible tutorials
guys. If like if you're new to this
and you know you could check out like literally he will literally
walk you through in a video how to take self custody.
He also offers one on ones. So anyways it's something for us
to discuss internally and talk about but but yeah guys if it's
you know ETF Bitcoin is captured Bitcoin.
It's not real Bitcoin. Real Bitcoin is Bitcoin in self
custody. So learn how to do it.
Literally guys, I'm going to the sponsors and partners that we
partner with. Like literally.
Like, we literally show you the products to do this with.
Get yourself a passport hardware wallet.
I got both of. Them too, Nika.
All right, so you get a hardware wallet, a passport by
foundation, you set it up, and then you put your seed phrase on
titanium. So if your house burns down or
whatever your seed phrase is in with.
This hammer. Like literally like this.
Is pretty much all you need to do.
But I honestly, in in fairness Nico, I do remember the first
time I did my first Bitcoin transaction.
Throw tomatoes all you want. You know, I was on Coinbase back
in the day and I I think I bought like my first $100 and
then finally on Twitter, they're like take custody of your
Bitcoin and you know, you know, I'm a millennial.
I'm pretty computer savvy. I wouldn't say I'm a computer
illiterate. I I, you know, I use, I use a
phone, I use an Apple phone. So I'm, I'm kind of computer
illiterate, you know what I'm saying?
But anyways, I remember sitting there and it was late at night.
It was dark. I had no lights on.
I was watching Andres Ontonopoulos and I sent myself a
transaction. And before I really knew how it
worked, there was like a moment where I thought, wow, maybe
maybe I just lost that $100. So I really do know that there
is a mental leap. And look, hey, we all know how
easy it is to use an iPhone, but there's still like the Apple IT
team, you know, like that's that's still a thing.
People don't understand how technology works and this is
what we're all doing here guys. This is why you're the Uncle Jim
for your family and stuff is because there is a certain
learning curve to being sovereign and we want to help
everyone as much as possible. We're going to constantly give
you guys the free show, so but you know if if tutorials scare
you we'll we'll be talking about this.
But guys, you need to take custody of your Bitcoin.
It is the most important thing as far as I'm concerned. 100
percent, 100% All right, everybody.
That was our episode for Thursday.
I hope you enjoyed it. The new segment was long and you
know, we appreciate you guys for sticking it out.
If you guys enjoyed the show, you know what to do.
Smash that like button. Consider subscribing if you feel
like we provided you value. But the number one thing you
could do to spread the peaceful Bitcoin revolution is share
Bitcoin called share Bitcoin culture.
Share Bitcoin content, share Bitcoin podcast, share Bitcoin
music, the memes, everything. Breitbart said it best, right?
Politics is downstream from culture.
We take over the culture, that's how we win this.
But I think this spot Bitcoin ETF, despite all the pushback
from the executive branch, is a major, major, major win.
The Trojan Horse is inside the gates.
And anyway, look at before we go.
Before we go, Congratulations, we fret right last week.
Let's. Go give, give you guys.
Get, get, give you guys a pat. Give yourselves a pat on the
back. Anyways, guys, we love you.
We appreciate you. We'll be back tomorrow for
another episode of Simply Bitcoin Live.
Peace out, everybody.