Was MicroStrategy just attacked by the $23 trillion giant NASDAQ
or is this latest announcement actually protecting MST Rs
monopoly? Everyone has been talking about
MicroStrategy, AKA strategy, potentially joining the S&P 500
later today. But what is really going on
here? Let's dive into it.
Of course, I'm not alone. I got my boy Chris here hanging
out with me today. Nikka will be gone for probably
the next week. So you're stuck with me, boys
and girls. Anyways, we did see some
interesting stuff. So this came out on Yahoo
Finance. It's really investing.com.
But NASDAQ made an announcement yesterday and depending on your
read, you could take away a few different things.
So the headline is strategy. Shares decline as NASDAQ
tightens crypto scrutiny so strategy shares declined 3.5%
after The Information reported that NASDAQ is intensifying its
scrutiny of companies attempting to boost their stock prices by
raising funds to acquire cryptocurrency or Bitcoin.
The report indicated that NASDAQ is now requiring certain
companies to obtain shareholder approval before issuing new
shares for crypto purchases, potentially slowing the recent
trend of firms transforming themselves into crypto focused
stock. This increased over site could
delay deals and introduce uncertainty into the market's
crypto boom. Going further, according to the
report, NASDAQ can now delist stocks or suspend trading if
companies fail to comply with these requirements.
Of course, this strategy is most effective during the rising
Bitcoin prices, making any regulatory delays potentially
costly for companies pursuing this approach.
And with federal securities regulators taking a step back,
NASDAQ has emerged as the primary entity monitored these
transactions through enforcement of its own listing rules.
So if you just heard me say that and you're like, what does this
actually mean? So it seems like NASDAQ
literally the day before strategy is on the verge of at
least that's what the rumors is getting added into the S&P 500.
We will learn about that later today.
I believe the time is somewhere around like 5:15 PM Eastern Time
or maybe it's we'll we'll just say roughly 5:00 today Eastern
Time. We will know if strategy got
added. Now all the rumors are saying
that yeah, they're going to get added again.
We've seen the requirements here over here on Watch Your Guru.
Here are the requirements for a company to get added into the
S&P 500. Of course, it's based in the US.
It's at least been trading for over 12 months on a major US
exchange. It has a market cap above 22.7
billion. A minimum 50% of shares should
be public monthly trading volume of more than two 150,000 shares
for six months. The latest quarter has positive
earnings. The last four quarters total
earnings are positive. Strategy qualifies for all of
that. It it's done this, it, it is at
least from our perspective, probably set to go in, though
the betting odds are saying it's maybe around 20% that is going
to happen. And the real conversation here
is, was this NASDAQ protecting MicroStrategy, which is the read
that I've been hearing. Essentially we all know
MicroStrategy has been killing it.
Right now, they're the biggest corporate treasury, Bitcoin
corporate treasury company basically period.
And so if you look at what the report is actually saying, the
announcement is actually saying, you could read it as is this
NASDAQ saying that they're going to delist MicroStrategy.
Because we all know, look, Saylor basically can do what he
wants. I'm pretty sure he still has
majority ownership of strategy. And I don't think he has to get
approval by all shareholders written before he does what he
does. All the shareholder board
members, everyone that buys the MicroStrategy stock knows
exactly what he's doing. This is why they buy that stock
in the 1st place so that he can raise money and buy more
Bitcoin. And so one read, like I said,
could be, hey, is this trying to slow down MicroStrategy?
Is this trying to slow down Sailor from acquiring Bitcoin?
Because if he doesn't get the approval from shareholders
before he makes these plays, then if you read it one way more
maybe a more cynical view then that gives NASDAQ, you know,
warrant to basically delist them from NASDAQ.
And if they drop this again suspiciously a day before
they're supposedly going to be added, does that mean
MicroStrategy is not going to get added into this S&P 500?
Even the headline says, you know, more crypto scrutiny.
While MicroStrategy stock isn't performing that well, it does
lead into a narrative of is Wall Street attacking strategy?
Is Wall Street attacking what Michael Saylor is doing.
Now there is the other flip side of the coin, which is this could
be a play to essentially protect strategy's Moat here.
So like maybe this is strategy's going to get added into the S&P
500 later today. And then any new company that's
trying to either be listed on NASDAQ or get added to the S&P
500. Now there's you know, an
obligation for NASDAQ to be like actually, you know, you guys
can't be added because you guys are doing things without your
shareholders approval. And that would essentially
create a a regulatory, well, not a regulatory Moat.
It would essentially create a Moat around micro strategy so
that they would be the superior Bitcoin treasury company.
And so we don't know exactly what's going to happen here.
It depends on how you read this. If you read this cynically, then
maybe it's, you know, another Wall Street attack on strategy
essentially trying to dampen the Bitcoin signal going worldwide
because hey, strategy's been killing it.
If they get added in the S&P 500, that's basically more
passive funds coming into MicroStrategy.
They can continue to do this flywheel.
And on the flip side, this could be extremely bullish for
MicroStrategy if they do have this seeming regulatory Moat.
It's not a regulatory Moat. This seeming announcement Moat
from NASDAQ, then MicroStrategy is going to be the clear winner
here. So this could be extremely
bullish for strategy for Michael Saylor, depending on what
happens later today. I think this is all hinge on
what happens later today. If strategy does get added into
the S&P 500, then I would personally lean towards this
does seem like some kind of Moat.
This does seem like some kind of play to protect MicroStrategy to
kind of maintain their monopoly on acquiring Bitcoin, which
literally opens up a whole new can can of worms, depending on
how conspiratorial you want to get around MicroStrategy and the
Bitcoin they hold. If they don't get added, then I
think as the headline says this, you know, quote crypto scrutiny,
Bitcoin scrutiny coming from NASDAQ.
It's not looking that good for other Bitcoin treasury companies
at large. But I'm going to stop there
because we we do have, I'm going to put my tinfoil had on a
little, little later on this and we might, we might have some,
some shit posts from strategy themselves that might be
indicating they are being added here.
But anyways, Chris, what is your read on this?
Is this NASDAQ protecting their integrity and the S&P 500 index
by basically pushing Bitcoin companies out?
Or is this protecting micro strategy as the leader in the
Bitcoin treasury company space? I think it's a little bit of
both, if I'm being honest, but I think this is, this is
officially the end of paper Bitcoin summer.
I know summer's not over till September 21st, but I do think
that this is kind of the coming to the end of it.
I think it's can be twofold. I think they just don't want
these Bitcoin treasury companies, Opti popping up and
basically just, you know, doing this thing of like we're raising
money to buy Bitcoin, then using that to issue more shares, issue
more debt, issue more offerings to buy more Bitcoin.
I, I think they're trying kind of protect ultimately retail
investors from the collapse that, you know, we see is
eventually going to happen. You know, maybe not today, maybe
not tomorrow, maybe not next week or even next year.
But when things when we go into a bear market eventually,
because things are always cyclical like that.
Like I think that a lot of those companies are going to be caught
holding the bag in the sense that they are over leveraged for
what they can afford and what they can pay back to either like
normally the debt holders of those shares.
So you know, whether it's a bonds that they owe or just
outstanding debt that they owe on the Bitcoin collateral that
they have, you know, obviously there can be contagion that they
have to sell the Bitcoin, the Bitcoin price goes lower in
order to cover their their bets and stuff like that.
But Opti, to your point, maybe this is the NASDAQ and you know,
in conjunction with the S&P 500. I know there are two separate
entities, but I'm sure they collude and talk with because
they're, you know, the two of the largest indexes in the world
that I'm sure that they're like, hey, we're going to let you
know, regardless of what you guys do, we're putting out this
guidance, MicroStrategy gets added and then it's going to be
much harder or much higher threshold for a lot of these
other Bitcoin treasury companies to get added in.
I'll add one last point. I think that NASDAQ and S&P 500
and a lot of them, they worry about like one, it's like, OK,
so there's Bitcoin treasury companies.
Obviously there's other companies signaling that they
want to be crypto treasury companies.
I know who's the one, Tom Lee, the one Asian guy that's like,
oh, I want to do a bit Ethereum yet.
What? Bundstrat.
Fun Strat. Yeah.
So like I know that a lot of other people are trying to get
other crypto currencies in. I know the administration is
very bullish on crypto at broad. I know Opti and I are more
Bitcoin and Bitcoin only, but I do think that they're probably
trying to signal that like we don't want this to become a
strategy. And I think long term, the best
thing is to have a business that has a balance sheet and A and a
Bitcoin business, not to be a Bitcoin treasury company that
doesn't really have a business except for buying Bitcoin.
You know, if I could be in the in the business of printing
money, might as well just call me the Federal Reserve then and
just buy Bitcoin because that's what I would do.
But yeah, I I do think that that is they're trying to signal the
market that they just don't want this to be only Bitcoin treasury
companies or other crypto companies at large going into
these indexes on basically just a flywheel strategy.
Well, the way these big well, I was going to say the way these
Bitcoin treasury companies are performing, it would seem like
the S&P 500 would just be Bitcoin treasury companies, but
they've recently gotten a lot of hot water.
The stock prices aren't doing too hot on these Bitcoin
treasury plays, though it does look like MSR is kind of
rebounding right now. And maybe that's people
expecting them to get added into the S&P 500.
But I, I love, I love the, the perspective of like an and both
kind of situation, you know, that this, this could be kind of
one of these views. It's like, all right, well, we
kind of can't ignore MicroStrategy anymore, but we
want to minimize the damage going further so the other
companies aren't also just getting skyrocketed into these
positions. But it did make me think of
actually someone in the chat said something, It did make me
think of this ongoing trend that Bitcoin companies in general
have to go through a higher level of scrutiny than other
companies. And it's just because it's such
a new technology or a new sector that we are still kind of looked
at as a risky thing for for most people out there, this is still
like a risky bet. This is still something they
don't understand, you know, the unknown fears people, scares
people away from it. And so they're, they're trying
to minimize the damage here. Well, at least that's probably
what they think. They're trying to minimize the
damage here, minimize the contagion.
In our view, it's like guys, you guys are the ones with the real
problem. We're, we're just trying to fix
what you guys have created and we still get beat up for it.
We still have to go through more hurdles than anyone else because
we are Bitcoin adjacent or we're a Bitcoin company and you're but
you are starting to see that this this is changing.
But it seems like we still have a very high level of scrutiny
because it is a whole new sector, new technology.
People really don't understand what this Bitcoin thing is.
So it will be interesting to see what happens later.
I know the odds around strategy actually joining the SP500 and
like the betting odds are pretty low.
At last I saw was 2 days ago, I think it was like 20%.
So I think, I think the, even though the MicroStrategy
investors, people that are holding the stock are probably
super bullish that this is going to happen.
I'm, I wouldn't necessarily hold my breath yet.
Like yes, we are entering into the mainstream consciousness,
but I don't think we really have the respect that we should have
yet. It's it's working in that
direction, but I would be pleasantly surprised if they do
get added to the S&P 500. But it is interesting that we're
starting to get more scrutiny in our sector.
We've heard the the conversation for a while.
It's like if Bitcoin does well, it's going to be a Dang, what,
what were they saying? They said it's it's going to be
in a damn, it's going to spread out into all the other sector.
I forget how they framed it. They said that it would be a
systemic risk to the financial system.
And we're like, guys, you are the systemic risk here.
We're just trying to mitigate the problems.
But hey, we still get a black eye in the eye of most people,
so we'll see. Most, most of the treasure
companies are garbage. Yeah, it's Friday.
Everyone's everyone's going hard.
OK. I'll add one more point too.
It's funny that like you can look over the years and there's
always like a buzzword of the year.
Like in the early 20/15/2016, it was like ESG companies and
they're welcome with open arms. Then even like, you know, you
get to 2000s, it's like, you know, COVID companies or health
companies that are trying to protect against COVID or vaccine
manufacturers. Then in 2021, it's like NFTS are
the buzzword and like all these different things are like keep
happening. And then it's like now like
Bitcoin companies a legit asset. You know, it's growing assets
like oh, whoa, whoa, you said you're a Bitcoin company.
Like hold your phone there, dude.
Like relax. Like where I think a lot of
crypto companies get cover because of all the lobbying that
like a 16Z the Coinbase is like all the like Bitcoin doesn't
have a lobbying arm, you know, outside of BPI.
And I know coin coin center help with that, but they're more
crypto adjacent. But it's like we are very small
niche of a niche of a niche. And it's like we think we're the
ones that are spreading truth and knowledge and all that and
we're the only honest money that there is.
And then everywhere else it's like NFTS, no problem.
Sell those like, hey, you want to start a crypto fund?
Yeah, no, no big deal. You want to fleece retail, Go
ahead ESG. You want to you want to sell
this pipe dream? Yep, you're all good.
Like Bitcoin, whoa, slow, slow your roll there, buddy.
Like things are going to go much slower for you guys.
So I don't know. Yeah, I think we need to rebrand
from simply Bitcoin to simply crypto so we can get that cover
of hey guys, we're we're not really changing anything.
We're we're just talking about crypto.
We just want that VC money. Now I'm trolling.
Oh, now, now I'm going to get cut out.
I'm going to get clipped out of context here.
RIP yeah, that's totally going to get clipped.
I'm totally getting clipped. But anyways, a lot of people on
Twitter, this is where this is where the maybe the, the Twitter
conspiracy theories are flying or you know, the, the Twitter
schizophrenic kind of mimetic powers flying.
But there was an interesting tweet and I, I'm not reading too
deep into this, but it is kind of an interesting, interesting
view here. So this guy tweeted, I don't
know who it was and other people were tweeting this, but we have
Tesla launched a $250 tequila two weeks before S&P inclusion.
And here you got the tequila bottle 250.
I get. I'm I'm sure it might have been
good tequila, who knows. And then yesterday, micro
strategy dropped their $250 dunks with strategy on it.
Orange, orange blasted. I don't know if we can read too
much into this, but there has been a lot of people saying that
the strategy inclusion into the S&P 500 is a lock.
That's kind of more like the what the rumor mill is saying.
So I don't know if if Sailor knows something we don't.
Is this just a coincidence or is this kind of telling us that,
yeah, they're going to get added later today?
And I think the historical precedent of a Bitcoin company
just at large, like, well, rather Bitcoin treasury company
get an add to the S&P 500. It's going to be a huge
monumental moment for for the space in general.
I know a lot of Bitcoiners don't like the financialization of
Bitcoin, but this is kind of one of those, I don't know, awards,
you know, maybe maybe you could say this is one of those moments
where it's like, OK, guys, as Bitcoiners, we have entered into
the mainstream. We have entered into the big
leagues. Yes, it's through Sailor sailors
been doing, I don't know genius master for work in, in, in terms
of corporate Bitcoin adoption or getting big corporate guys to
get into Bitcoin. He was the first one to kind of
dive in all in and now it seems to be catching on.
So I think later today, again, I believe it's going to be around
5:00 PM Eastern Time, we will know what is going on.
I don't know if it's, you know, buy, buy the rumor, sell the
news scenario here. But I'm sure if it gets added
the, the, all the bitcoiners that sold their stacks to buy
MicroStrategy will be very happy 'cause I'm sure the price will
pump. So will you read into this a
lot, Chris? The $250 dunks, $250 tequila.
Is there anything here? Is this just Bitcoin Twitter
shit posting? I don't know, I, I mean, maybe
they're hinting that they are going to be included, but I know
normally markets move with information and their stock is
only up .75%. The betting markets are showing
that they're only 20% chance of getting added.
I think that they're hopeful that they do, but I think the
markets are unsure. Like normally if someone leaks
or you know, some S&P 500 staffers like, yo, we're green
light and like, you know, not saying there's insider
information that happens OPI, but you know, you see what some
of the trading records of some people in Congress, I'm just
saying they haven't loaded up or to my knowledge, Nancy Pelosi
hasn't loaded up on strategy stock yet, so.
Yeah, where's the Nancy Pelosi stock tracker?
Has she been buying MicroStrategy?
Because if she is, then we know they're getting added.
Yeah, if they, if she, dude, if she is, we should all, we should
all load up on MicroStrategy right now, so.
Just kidding, not financial advice.
Yeah, that was satire. That was satire.
I, I do not own MicroStrategy, though I probably should have in
2020, but it's a little late. It's a little late for them.
Anyways, guys, I got a jam packed show for you.
So Bitwise CIO, I believe it was the CIO was on CNBC yesterday
and he's getting kind of bullish and the numbers are, if the, if
he is correct, the numbers that are on the horizon to get into
Bitcoin are going to be staggering.
Second, we have some more news coming out of banks.
It looks like banks are all pivoting into Bitcoin.
And then third, in the culture, there was an interesting clip on
Diary of Aceo, one of the biggest podcasts right now.
I was actually looking at his podcast yesterday, just his
growth and this guy got like 10 million Subs in about like a
year or two. It's absolutely incredible.
Anyways, there's an AI researcher on it and he was even
joking about this is not financial advice, but he has an
interesting take on AI and Bitcoin and basically why you
need to buy Bitcoin. So the signal is getting out
there guys. Anyways, before I keep going,
got to remind you guys smash the like button, comment on the
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se-ed.com store. OK, guys, let's go over here to
Clark Moody's dashboard. The current Bitcoin price is
$110,800. It actually went up to 113
earlier today. And then the markets open and it
dumped back down to 110. Love to see it.
Love to see it. 9:00 AM Eastern Time, the price of Bitcoin just
dumped. So when it declined from all
time high of -11% it's not too bad I guess.
The market cap is $2.21 trillion and the current block height is
913,314. OK guys.
So as I was telling you, first of all, my I was caught by
Bitcoin archives tweet here he says $15 billion.
Bitwise tell CNBC that $5 trillion in buying pressure is
coming to Bitcoin. Send it I, I was watching this
and I didn't hear 5 trillion in the clip.
So Archie, I don't know if you missed the one on this or what,
but it is interesting. It is an interesting tell of
what's going on. It's essentially what we've been
saying for a while. It does seem like the
institutions are here. They haven't fully dived into
Bitcoin in mass yet. They're kind of still tiptoeing
into the market, you know, maybe investing 1% of their
portfolios. But even if they continue to do
that, I think it's what 3% of hedge fund managers that were
surveyed around at this was all the hedge funds surveyed around
their investments in the Bitcoin.
I think it was like 3% of them are pro Bitcoin, and they're
really only going into the market at like 1%.
So there's still a lot of capital to be found here.
And Bitwise is saying they're having these conversations and
they might be on the verge of going in bulk, though it wasn't
5 trillion. But the math does get
interesting after the fact. So let's talk about this.
Well, every day a bit wise, we talk to institutional investors.
These are Raas, hedge funds, family offices, high net worth
individuals. And the pattern continues to
emerge that more and more of these investors are starting
with a 1% allocation to Bitcoin as they build their portfolio.
And then what we've seen time and time again is those 1%
allocations ladder up to 2, three, 5%.
Now many investors that we're speaking to have a much larger
allocation than that. But we believe that investors
will allocate somewhere between 1 to 5% of their portfolios to
Bitcoin. If you just take a step back and
think about how Bitcoin has a 21 million supply or how Bitcoin
has a 21 million fixed supply, if you think about what a 1 to
5% allocation would be for the 100 trillion institutional
investment space, that's 1.5 trillion of additional buying
pressure for Bitcoin over the next 10 years.
And that's why we think there will be a continued sustained
supply and demand imbalance that will drive the price higher.
Hey, I would love to see that come in.
You know, 1.5 trillion sounds good to me, though he did say
one thing at the end. And then I I do kind of want to
touch on the 1.5 trillion number.
It's kind of what I've been saying the last couple of days.
I think we're all kind of underestimating the unlimited
bid that we are, that we're on the verge of seeing.
Yes, it's been trickling into Bitcoin, but we're starting to
see that these institutions, sovereign wealth funds, nation
states want to acquire a position in Bitcoin.
And if they do that and they have this long term horizon
about it, we might be seeing an unlimited bid in the sense that
we will always get a buyer, a constant buyer of Bitcoin.
And of course, what does that mean?
It means the price is going to go up, Maybe it'll be slower
than a parabolic run. But if we get a constant bid, it
means two things, prices going up and probably less of a bear
market. So I'm all for that now.
This morning when I was covering this clip, I was chatting with
Luke about it and he reminded me of we, we were using the five
trillion number and we were like, man, this is a juicy story
when it comes to $5 trillion of capital coming into Bitcoin.
Cause everyone usually thinks that it's like a 1 to 1 addition
to the market cap. Oh, if 5 trillion or 1.5
trillion comes into Bitcoin, then that means we're gonna add
1.5 trillion to the market cap. But again, a lot of us kind of
forget about the multiplier effect basically because Bitcoin
is so, it is liquid, but it's so illiquid in, in the sense like
there's not that much Bitcoin that is being traded.
It's the multiplier effect exactly exactly.
And so the multiplier effect is where things get very
interesting because you you can use different numbers, a
conservative and I think we heard multiplier effect is about
3 times. On a more like extreme level,
we've heard 21. If you use the average, I think
it was around 8 times. So essentially I'm going to use
the conservative numbers here. So for every dollar that comes
in, essentially the price will move up $3.00.
So if you want to look at 1.5 trillion coming into Bitcoin,
it's not 1.5 trillion simply being added to the market cap.
That would lead it to what, a three-point 75 trillion or $3.71
trillion market cap? That sounds nice, but if you do
a multiplier fract on this, it's what, about 4 trillion coming
in? So that would mean Bitcoin's at
like a $6 trillion market cap. That sounds fun.
I'm I'd be here for this. And that's a price move to about
the 300,000 range, like 280 to like 3350 ish, 300,000 per
Bitcoin opti. I guess the one thing I'll note
is I think the one to 5% in the 5 trillion is what they're
saying is you're taking 3 buckets and the three buckets
are bonds, equities and cash. So bonds globally 300 trillion,
equities about 115 trillion and money, call it 120 trillion.
So adding those three together, $135 trillion, but let's just
say 500 for round even numbers, 1% allocation of those buckets,
that's excluding gold, collectibles, real estate,
natural resources, like other things.
But just in those three buckets of equities, bonds and cash,
it's saying 1% of 500 trillion. Moving that into the allocation
of Bitcoin is 5 trillion. So I think that's kind of where
the loose number of where they're getting it, like global
assets about 900 trillion, but that's excluding real estate,
natural resources, gold are excluding Bitcoin as well, cars
and collectibles and such. But yeah, I think they're just
kind of looking at those 3 buckets of cash, equities and
bonds. Well, all right.
We'll, we'll do, we'll do the $5 trillion capital coming in,
because this is where the math was, was very interesting.
It depends on what multiplier effect you're using.
But if 5 trillion does find its way into Bitcoin and say we're
doing a multiplier effect of eight, that's what $40 trillion
added to the market cap. That's where Bitcoin goes from
where we are today, 100K to about $2,000,000.
Hey, look, I'm here for that. Let's do this.
I, I'm all for this. So multiplier effects, very
interesting. We kind of broke him down on the
show before, but man, Chris wouldn't wouldn't we love to see
40 trillion come into the market overnight?
Well, maybe in a in a couple of months that that would be, that
would be incredible. Well, I'll add to.
That point I know Jeff Booth and Greg Voss and a lot of other
people in the bond markets have talked about this like obviously
we think Bitcoin is a better version of gold.
So that's 20 trillion right there.
I mean, let's just assume, you know, we're going to get to that
point of we're at 2 trillion that 20 trillion, but then that
that even excludes 26 trillion of negative yielding bonds.
Like Opie, I will literally give you this trade and this is not a
fake thing. I know this sounds ridiculous.
This is what the US government does literally every day.
And I know that there's, you know, the threat of, I hate they
say monopoly on violence or threat of coercion or something
like that. But basically it's like, hey
Appi, I will give you a bond yielding like what's it 4% right
now? And I guarantee that I will give
you back, you know, on nominal terms, $104.00 worth of that
bond. You're like, oh, that's OK.
Again, a 4% return. But that excludes the amount of
money printing that I'm doing that the purchasing power of
that $104.00 is only going to buy you about $97.95 dollars,
you know, maybe $90.00 worth of, of goods and services.
That's obviously whatever you're assuming your inflation rate is.
Obviously the Federal Reserve cooks the books and uses CPI
numbers excluding housing or energy or all these different
things. And they say it's around 2 now
it's at 3% because we had COVID and all this money printing.
But if you want to use other things like the Chapwood index
or shadow stats, that's much higher at seven, 1015% per year.
And obviously, we're seeing assets inflate the S&P 500 or,
you know, stocks, bonds, real estate, whatever it is like
those, those assets are going up in conjunction with inflation.
And obviously what they do in the CPI index is they replace
instead of, you know, 1 LB of steak, we're going to replace it
1 LB of chicken. Oh, chicken's getting too
expensive now. Oh, it's 1 LB of pork, Then it's
going to be 1 LB of meat equivalents.
Then it's going to be 1 LB of Impossible burger meat.
Like, you know, fake, chemically made stuff.
So like they're always changing the basket of goods in order to
fit their narrative, to fit and look like the numbers aren't as
bad as they say they are. So it's just the the corruption
of money leads to the corruption and the manipulation of
everything. There's a great quote by Jeff
Booth and all. I'll leave it on this.
If there is scarcity in money, there's abundance in everything
else. But if there's abundance in
money Fiat, then there's scarcity in everything else.
So just think about that. I know it's a great quote, but
yeah, it's just scarcity and abundance of money versus raw
materials or goods and services that you want.
So I think it's a great quote by him and I think it really
highlights the Fiat dilemma that we find ourselves in.
Yeah, I was going to say we. Don't really have to think about
it too much. We're kind of living through it
currently as we speak. There is an abundance of money
and they're, they're talking about, you know, creating even
more money and there is a lot of scarcity in things currently
playing out. So hey, I know it sounds utopian
for a lot of people what Bitcoin future might be like, but I
don't think it's utopian, man. It's just it's pure maths here.
We're going to go back to Bitcoin is math.
It's very simple. Yeah, I I got it.
All right, guys. I got to keep it moving.
The storm's going there. It's like stormy here.
And I think I got to go on the hard line.
So we're going to keep it moving here because I might, I might
get shut off real quick. Give me one second I want to
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15% off anything on the store. All right, guys, we're back.
FYI, Chris, if I get shut off, it's storming right now, OK?
It's like lightning's hitting me as we speak.
OK, Anyways, back to the show, back to the news.
So I think an interesting trend we are seeing in here, I'm going
to full screen me, give some context here.
This news in and of itself is probably not that interesting,
but it is showing that because we are seeing more regulatory
clarity, or rather more talk of regulatory clarity, you're
starting to see that the institutions are feeling a
little more comfortable around Bitcoin and now they are
starting to make their moves. And so this really leads to what
is coming down the pipeline and and that's where we'll probably
take this conversation. So U.S. bank reserves resumes
Bitcoin, cryptocurrency custody services for institutional
investment managers. So the US Bank announced today
is this today Yes Oh no, this was actually a day ago U.S. bank
announced today that it has resumed offering cryptocurrency
custody services originally announced in 2021 as an early
access program to global fund services client, the services
are intended for institutional investment managers with
registered or private funds who seek a secure safekeeping
solution for Bitcoin. NYDIG, a Bitcoin company
basically backed by Bitcoiners and bridging the gap at in Wall
Street and institutions, A vertically integrated Bitcoin
financial service and power infrastructure firm, will act as
the Bitcoin sub custodian. Quote.
We're proud that we were one of the first banks to offer
cryptocurrency custody for fun and institutional custody
clients back in 2021, and we're excited to resume the service
this year. Following greater regulatory
clarity, we've expanded our offering to include Bitcoin
ETFs, which allow us to provide full service solutions for
managers seeking custody and administration administration
services. Nate Nidig is honored to partner
with U.S. bank as its primary provider for Bitcoin custody
services. Together, we can bridge the gap
between traditional finance and the modern economy by
facilitating access for global funding services clients to
Bitcoin as sound money delivered with the safety and security
expected by regulated financial institutions.
And you know, U.S. bank 68 six, $686 billion in assets.
NYDIG is basically a Bitcoin company that just kind of got
launched a few years ago on a Wall Street.
It's backed by. Hi Chris.
You probably remember who I'm I'm.
Is it? I'm blanking on his name.
NYDIG is it Ross, Ross Stevens? I believe Ross Stevens.
Yeah, Ross Stevens, He's he's. A OG Bitcoiner, he's been around
for a while. And then I think the big take
away here is this one quote here.
Obviously we're not the biggest fans of ETFs, but hey, Wall
Street loves ETFs. We're seeing the impact that the
Black Rock ETF has made. We're seeing the impact of ETFs
in general. Again, I have this whole theory
that I think since ETFs got launched, it's fundamentally
shifted the market structure of Bitcoin and we are in a new
paradigm ever since they launched the ETFs.
But it's basically this quote right here.
Following greater regulatory clarity, we expanded our brings
to include ETFs which allow us to provide full service
solutions. Now, of course, I wouldn't be
trusting banks with my custody solutions.
Obviously, I'm not an institutional manager here.
I, I don't have a license, I, I don't run a firm or anything
like that. And of course, there are more
stringent regulations for people that do run firms, But I think
the point remains the same as we're seeing in this last year,
rather, since Trump started running for, for office and, and
coming back in as president and embracing Bitcoin, we are seeing
a shift in the regulatory landscape around Bitcoin.
And this, this seems to be a good thing.
And I, I hate to use the term net positive here, but it does
seem like since we are on the verge of seeing a, you know,
more regulatory clarity, we're, we're about to get, you know,
clear rules of the road here. All the banks are trying to get
into Bitcoin, whether that's trying to get micro strategy
exposure or whether that's trying to essentially get their
foot in the door and become a quote, crypto adjacent company
with custody or offering these services to their clients.
Of course, they want their fees, they want to make money.
But it does seem like we we are entering an era where we're no
longer going to get fought here, that since they are embracing
our industry, all the biggest players are embracing this
industry as well. Whether they want to or not is
besides the point. I think Jamie Dimon is like the
best example of this. He's like, look, I don't like
this thing, but if my customers want to buy this, I guess I will
offer it to you guys. So this could be a bending of
the knee moment where, look, they're realizing there's
something on the horizon. If we do get a sense of
regulatory clarity here, if the rules of the road are laid out
so that they can feel that they can come into Bitcoin in bulk.
I think we're we're slowly but surely just taking over the
world ever since Trump announced we are going to become the
Bitcoin superpower of the world. He is following through in terms
of whether banks can come in SEC flipping 180% on their view of
Bitcoin. And now it seems like other
banks are following suit. So again, I'm not all four banks
custodying your Bitcoin, but it just shows that they want your
Bitcoin. They want, they want a little
piece of this action. And if you've been sitting on
the sidelines and waiting for signals of maybe, you know,
now's not the right time to get into Bitcoin, We have, I think
all the signals you need to relieve you of this stress.
We have institutional managers pushing their portfolios from 1%
to 5% to Ray Dalio saying like 40% to now the banks coming into
the space and saying, yeah, we're going to custody this
stuff. We, we want to offer Bitcoin
ETFs. It seems like the big money's
here, guys. It's, it's no more, no longer
just speculation that they're here.
I think they are starting to really pivot and force into the
Bitcoin industry for better or worse.
But they, they want a little piece of the action.
So I think this is more tacit approval that Bitcoin is slowly
but surely eating away at the traditional financial system.
Anyways, Chris, from a slightly higher IQ vantage point, what's
your view on this? I think the banks want.
A piece of the action, but they want a piece of the action with
the, the institutional investors.
I think that the banks are kind of, I mean, I, I hate the, the
rules for institutional money. It's like, I think you need a
net worth of $2,000,000 or you need to have made 200,000 over
the last three years or I forgot the rules, something like that,
which is a very high bar or for most people, especially compared
to the average in the United States.
But the thing that's funny, it's like, hey, we want to help you,
but only if you're high net worth.
If you're a pleb, go fuck yourself basically.
So I do think that like they're going to roll it out for them
and their friends 1st and then when they're like, oh like now
we're going to offer you something at much higher
interest rates or much worse offerings.
So I think the best bet is to stay humble stack sacks.
We are trying to become the D banked or the unbanked.
We don't want to work with banks personally.
I mean, yeah, if they want to learn about Bitcoin, yeah, sure,
we can show you how to set up a hardware wallet and do that on
Sparrow and stuff. But if you want to learn like
like you don't have to fit into the mold of the old system.
We're trying to build a parallel, much better, much
robust system. So I definitely think the reward
will be the people that stay humble stack sacks take the
Bitcoin into cold storage and they're able to use utilize it
themselves. I want the banks come to me
being like, yo, can can we have your Bitcoin for some?
Like they're asking a loan for us bitcoiners to give us their
Bitcoin. And when I say, let me think
about that, no. And when they're like, no,
pretty please, it's like either it's going to be a very, very
small part of my stack or the interest rate that I'm going to
charge them is going to be laughable.
And when they're like, bro, what the hell, I don't want to pay.
This is like, well then you're not getting my freaking Bitcoin.
So I definitely think that's the long term play.
I'm with that. Yes, I will provide you some
Bitcoin liquidity if I'm able to charge you an arm and a leg like
you've been doing to us forever. Oh, what's credit card rates?
29%, add 20% on that and then. We'll talk 100% though You, you
did, you did say something that that I did find interesting in
regards to Yeah. They're going to do it to their
high net worth friends first and then eventually it'll get to,
you know, the average person. But why you said that?
I was just thinking, you know, if it's good enough for rich
people, it's probably good enough for me.
So I should probably be buying some Bitcoin more, you know, I
should probably be doing these things as that's kind of, that's
kind of my view of the I, I, I think it's kind of a, an
elitist, maybe an elitist perspective here.
Like, well, hey, you know, if it's good enough for rich
people, it's probably good enough for me.
So maybe I should be doing this thing too.
If the elites are the really rich, high net worth individuals
want to get into this, that signal to me that, yeah, I
should probably keep doubling down on this, tripling down on
this. It seems like we are correct on
what's going on. OK guys, let's keep it moving
'cause I, I think this end of today's show, it's Friday.
I, I kind of like this conversation a lot in regards to
what AI and Bitcoin will do and what this all means for us here.
So let's keep it moving to the end and we will wrap up today's
show. I want to give a shout out.
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freedom. All right guys, so shouts out to
rhino Bitcoin app. They clipped this and the real
significance is of course, this is a culture and it seems like
the Bitcoin signal is starting to get into bigger and bigger.
You know it actually the bugle team it has been on this.
You know Bitcoin podcasting is going to take over the world.
So if you guys don't know who this guy is, the Diary of ACEO,
he's got one of the biggest up and coming podcasts right now.
He's got 12.1 million Subs. This guy gets 53 million views a
month, which is insane. This video in itself got 1.7
million views. Obviously.
I think it's because here, if you see this, you know, AI will
trigger global collapse by 2027. You know, a hot take there a hot
take. But there was a portion in this
where this AI researcher basically is like, look, if you
want to survive this AI whatever apocalypse that people are
talking about, the only way to really do this is if you are
buying in Bitcoin. And I think the fact that
they're having this conversation on such a large platform really
just goes to show that, one, you know, a lot of people saw this
clip and now are thinking about buying Bitcoin.
And two, Bitcoin really is the solution for all the crazy stuff
that we find ourselves in. So it's a short clip.
I'm going to play it for you, and then Chris and I will chat
about it. I think.
Chris, are you a little more AI? Are you more AI savvy than me?
I'm kind of a Luddite when it comes to AI.
No, we're both Luddites. OK, AI Luddite takes on this.
Niko loves AII troll him about it all the time.
But let's watch this clip and then we'll chat about it.
Free labor. What's money?
Is it now Bitcoin? Do you invest in that?
Is there something else which becomes the only resource we
cannot fake? So those things are very
important research topics. So you're investing in Bitcoin,
aren't? You.
Yeah, because it's a. It's the only scarce resource.
Nothing else has scarcity. Everything else, if price goes
up, we'll make more. I can make as much gold as you
want given a proper price point. You cannot make more Bitcoin,
some people say. Bitcoin is just this thing on a
computer that we all agreed was valuable.
We are a thing on a computer. Remember.
OK, so I. Mean not investment advice, but
investment advice. It's hilarious how that's one of
those. Things where they tell you it's
not but you know it is immediately there is a your call
is important to us. That means your call is of 0
importance and investment is like that.
Yeah, yeah. When they say no.
Investment advice. It's definitely investment
advice, but it's not investment advice.
OK, so you're bullish on Bitcoin because it's it can't be messed
with. It is the only thing.
Which we know how much there is in the universe.
So gold. There could be an asteroid made
out of pure gold heading towards us, devoluing it.
Well, also killing all of us. But Bitcoin.
I know exactly the numbers. And even the 21 million is an
upper limit. How many are lost?
Passwords forgotten? I don't know what Satoshi is
doing with his million. It's getting scarce every day
while more and more people are trying to accumulate it.
Some people worry that it could. Be hacked with a supercomputer?
A quantum computer. Can break that algorithm.
There is strategies for switching to quantum resistant
cryptography for that. And quantum computers are still
kind of weak, do you think? There's any changes?
To my life that I should make following this conversation.
Is there anything that I should do differently the minute I walk
out of this door? I assume you already invest in.
Bitcoin heavily Yes, I'm an investor in.
Bitcoin. This is financial advice.
I love that, Ed, what should you do right when you leave this
room, go balls deep into Bitcoin?
Like, did you not hear what I just said to you?
Literally did a whole video about how AI is going to, you
know, change the fundamental nature of our world.
And he's like, the only thing that you can really do is buy
Bitcoin. So what should I do after this?
Buy more Bitcoin? Like what?
What are you talking about? Of course.
Did you not just listen to what I just said?
It's it's something about the. Slavic languages or he's
Latvian, but like that Slavic, Russian, Ukrainian accent that
just makes everything they say seem more serious and like, more
like dire, like you should like, go after this and buy more big.
Yeah. And also guys, legally.
Speaking this whole show, everything on this channel is
not financial advice. I am not your macro.
Not lawyers. Not lawyers.
Exactly, I am not your. Financial advisor, I am not your
macro advisor. I am, I am your financial
entertainment here. This is not financial advice.
But yeah, no, I mean, look, I have heard a lot of people and
again, Full disclosure, I'm not the biggest AI person, you know,
I'll use ChatGPT here like last night.
Look, I was I use ChatGPT like a a glorified Google search.
That's kind of how I look at it. I kind of compare them against
each other. I use perplexity as my search
browser. I'll use ChatGPT and I'll use
Google. And I kind of, you know, I look
for the answers and then I kind of compare what they all say.
And that leads me to the bottom. I'm not one of these people that
uses AI as like their best friend or, you know, their,
their personal therapist or something like that.
I, I'm a little more cynical. I, I have the, the Elon Musk
kind of view here where like AI is a demon and you're, you're,
you're congregating with demons, You know, hey, I'm, I'm a
superstitious 42 IQ person here, but I have seen a lot of people
hit on those two ideas. AI is, you know, they're AI is
going to take our jobs. We're all going to be out of
work or the quantum computer FUD.
And I'd just love to see someone that's in AI essentially be
like, no, dude, like, do you understand this Bitcoin thing at
all? It's the only thing we know in
the universe that we know there's what the amount is 21
million hard cap. And actually, Chris, it really
does kind of lead back to that, that quote you were saying the
what is it Jeff Booth quote that you said the abundance in?
Money means there's scarcity in resources.
If there's a scarcity in resources, there's an abundance
of money. Exactly.
And if, if we do have the access to all knowledge through AI and
everything does, you know, basically, I guess maybe I, I
don't know the whole AI Armageddon view.
Like we, we're basically worthless and we don't ever have
to do anything because AI does everything for us.
And what's the point of living? The point of living is to
acquire more Bitcoin, guys. Cuz hey, if AI is gonna give us
everything, there's only one thing that we know is truly
scarce. It's Bitcoin, 21 million hard
cap. This is the beauty of it.
This is why Bitcoin will win. So I just, I love that we are
starting to see these conversations go into, or rather
break out of our echo chambers because guys, you already know,
the only people buying Bitcoin right now are bitcoiners.
The only people talking about Bitcoin are Bitcoiners.
We're we're basically talking in a giant echo chamber, but it's
starting to break out. And once more people,
intelligent people, like you said, someone with a with a
seemingly smart sounding accent here, it does hit a little
harder. And I, I think, I think we're on
the verge of it, guys. I think we're on the verge of
the price going going hard, guys.
I, I keep getting trolled. You guys keep saying I'm a moon
boy. I am a mood boy.
I'm a moon boy and a freedom maxi.
This is who I am. I, I'm unashamed about who I am.
This is this is what I do. This is my life's work.
Moon boy, freedom maxi. That's my new title here.
Anyways, Chris, are you concerned about AI?
I kind. Of I kind of take the take that
you take Opti. I'm more of skeptical of AII
think we know there's literally movies like Terminator movies
that are literally about this with like Skynet and like it
taking over the world. I with that being said, I do
think the AIS nowadays are basically just like large Google
search engines that like are predictive and analysts like
like, so it's like the next iteration of Google search.
To your point, I think that you should be very sparing with AI.
And I know personally, I'm not smarter than a computer or a
supercomputer or anything like that, but I catch mistakes on AI
all the time. So it's like a lot of times I'm
like asking something that I vaguely know about, like, you
know, hey, like, who's this? And then they'll give me the
wrong answer. I'm like, wait, I know this is
wrong. So like, I think using AI
sparingly don't get like, don't use it as a therapist, don't use
it as a love coach. Don't use it as like a lot of
different things. But if you want to use it as a
Google search as a way to assist you, I think that's a great way.
I've also seen if you want AI to like you're like, hey, AI, write
me a paper about this. Like insert a random topic.
A lot of times it like it like starts repeating itself.
Like it's like almost like the paragraphs are the same thing,
just the words are jumbled, but saying the exact same thing over
and over again. So you can kind of tell it's
like not even really good at like writing like long form
things or stuff like that. So like if you want to use it
for selective answers and not revealing things about your
private life, I think that's the best way to do it.
I want to add two more things. So the thing about quantum
computers. So I think quantum computers and
then breaking Bitcoin is actually one of the lowest
things in terms of doing it. So imagine you're this, you're
this evil genius, you make this great quantum computer and you
can break basically encryption for anything.
That's ultimately what quantum computers can do.
So if you get the great idea, you'd be like just smart in half
by 1/2 in the sense that like if you were to start breaking
encryption and stealing Bitcoin, let's just say you wanted to
steal Satoshi's a million Bitcoin at that point.
You run the risk of well. So if you steal Satoshi's a
million Bitcoin and then you start spending him and all that,
and then you start stealing Bitcoin from other people, it's
like sand. Like Bitcoin would become
worthless overnight in the sense that until we upgrade to a
quantum resistant algorithm that people would be like, hey, like
you're stealing Bitcoin, you're breaking this.
And basically the value of it keeps dropping faster than
probably you can spend it. So it's like you're basically
hurting yourselves. You'd be much better off, and I
know that this is like the evil genius tinfoil cap on, but you'd
be much better off like basically ransoming people and
using Bitcoin as payment or for basically for like, oh, like you
broke the encryption of hydro dam, you broke the encryption of
nuclear launch codes. You broke the encryption of a
banking system and you can seal Fiat currency way easier without
them even realizing it. Like there's so much other
things that you'd probably want to do with a quantum computer
before you said let's break Bitcoin, unless I guess you're a
state actor and you don't like the competition.
So then I guess maybe that is the, the, the like the angle
there that they might break it just for the sake of breaking
it. But that being said, I do think
like there is going to become more quantum resistant
algorithms and over time, Bitcoin developers will see this
this issue. I don't think it's an issue
today, but ultimately they'll see this issue and we'll start
migrating to a new hashing algorithm that protects Bitcoin
without too much fanfare of keeping the Ledger the same,
just changing the algorithm. With that being said, AI and
Fiat currencies, I know this is a great topic that's brought up.
If AI gets to the Super intelligence and they're not
going to want to use Fiat currencies because governments
or banks or things like that can stop it or reverse transactions,
They're not going to want to use other cryptocurrencies that have
backdoors or that can be broken or that can be the rules can be
changed like Etherium. When the Dow hack and they like
literally change it and fork the code.
They're going to want to use something like Bitcoin where
they know it is a finite supply, it can't be hacked and that like
it's a use as payment that they can use without being reversed
or stopped or stolen from them. So I do think in the long run,
AIS are going to want Bitcoin as a way to pay and do things and
it even kind of works together synonymously.
Like they're like, hey, AI, like I want to buy something on
Amazon. Like you have a balance that I
gave you like a hot wallet. Basically like your AI hot
wallet, you give them a million sets, buy these items from
Amazon, go ahead and do it. And basically they're going to
be using the Bitcoin wallet in order to fund payments to Amazon
and buy the gifts or whatever it is.
But I think that's just a simple example.
But I do think that AI are going to want Bitcoin in the long term
because they realize it can't be stopped, it can't be reversed
and its final settlement and payment.
So AIS are going to want want to get your Bitcoin.
I guess the flip side of that is they might try and trick you to
steal your Bitcoin. So always be cautious and don't
get social engineer intact. But yeah, I think that's my low
IQ take on AIS. And like you said, Opti, I'm not
very big. I use chat TVT sparingly.
I don't use any of the other ones really.
And I basically use it as a Google search for here and
there. Yeah, I use it as a.
Google search Google's trash now guys Google is horrible like the
whatever whatever they did to Google where you have to search
sort of like 6 pages to get to the right results.
It's like it's horrible. I just ChatGPT it, perplexity it
and even their. AI like they're like AI
generated answer and like you'll see the AI generated answer is
like this paragraph and you're like, you literally see the next
article below. It is like different from what
they're telling you. You're like, this is dumb.
Like why you're like you can even see in the first 3 links
you showed me. This is not what you I wrote the
paragraph here, so yeah, yeah, but.
You know the meme AI is going to take all our jobs.
You were saying I'm going to throw myself here.
You were saying that all AI does is repeat itself in different
words. I'm like, damn, it's really
going to take my job. Shit, it's.
Over for me, man. It's over for me.
It's over for us. We're we're not going.
To do this episode, they have enough of our voice that they're
just going to make AI generated images of us talking and just
saying the same things over all right, like the the show's.
Over the the we're we're done for today.
It's Friday. But I did just see an AI
computer, AI video processor and it was able like you, it could
take a picture of you. And I think you kind of you
recorded a little bit and it it basically looked like this
recording. It's it was one of my friends.
He's making some content and I was watching it.
I'm like, wait, this isn't you recording.
He's like, no, that whole thing is AII was like, holy shit.
Like this is crazy. And I know you guys have seen
the AI videos on Twitter and all the commercials and you've seen
our AI videos and stuff, but this literally it looked like
they they can basically do what we're doing here and someone
just types in what it's doing and they will be an AI Opti and
AI Chris. It it was, it was insane.
I mean there was last. Year or like probably a year, a
year and a half ago there was an AI that was really good with
voice. I forget which one it was or
whatever, but basically they made a song with like Drake and
Jay-Z like 2 separate songs and you would like, I don't listen
to music that much, but like I showed it to my wife.
I was like yo check out this new Drake song and she like likes
Drake. And she was like wow, that's
like pretty good. I'm like this is all AI.
She's like no fucking way. I'm like, yeah, it's literally
like fake you. Wasn't that BBL?
Jersey Hey, look, I love, I love, Yay, yay.
Yay's using all kinds of AI on his stuff.
People hate it, but I really don't see a difference or shouts
out to the bugle dude, the bugle's music that that stuff's
super cool. That's all AI.
He like, doesn't know how to play an instrument, but he can
make some bangers. Yeah, He's like the top of.
Wavelength on like everything. He's like 7 of the top ten.
The bugle boys shouts out to the bugle.
Anyways guys, it is Friday. Oh wait actually one last thing.
I almost forgot again one last thing I got you guys I I didn't
forget. I didn't forget.
Let me log in here I am giving away some free Bitcoin right now
Make sure you guys pull out your lightning wallets.
Let me just log in. Hopefully this this doesn't
freeze out on me. Actually it is Friday, so I'm
going to give you guys we're going to do 1 spin here.
So you sign in once you you know, if you scan our QR code
earlier here, actually I'll do it again and you scan this QR
code, you got three chances to win a million SAT.
When you buy Bitcoin, you get more wishing well points.
When you refer people, you get more points and more chances to
win a million SAT Twitch is what about $1000 right now in
Bitcoin. That's a it's a good little nest
egg to start. So here we go we're going to
play and the drum roll, please drum roll in your head as we
wait for it to go first one to scan with the lightning wallets
get 608 SAT. So give it some free Bitcoin.
And someone did say earlier, how many unclaimed sats do we have?
I don't know if they were talking about us, but it's
Friday. So let's see if there's
unclaimed sats in here and we'll do essentially a second one.
So unclaimed sats, this takes a little bit.
This takes a moment. Anyways, guys, we appreciate
you. We love you guys.
We wouldn't be here without you. There we go, 446.
So it's the same person got these sats.
It's 1000 sats on today's show. Don't say I didn't do nothing
for you guys. No, I'm trolling.
I'm trolling. I love you guys appreciate you
guys. It's Friday, go outside, touch
some grass, get some sun guys. I'm I'm really big on the jet
cruise sun stuff. I'm sun maxing.
So right when you wake up in the morning, 1015 minutes of sun,
your life will get better. Though I think I'm drinking too
much caffeine because I'm still not sleeping like I, my, my
circadian rhythms aren't aligned yet.
I'm still not going to bed until about after midnight because I
drink like I did the math yesterday.
I drink like 700 milligrams of caffeine on average a day.
It's insane. My, my heart's going to explode
on me. Anyways, call your loved ones,
eat a good eat, eat some good food, guys.
I'm going to cook a steak this week anyways, Chris, good to see
you, man. Always good to see you man.
And I will see you soon. And yes, guys, don't date your
AI. Last final message, do not do
not date Elon's AIE girl. But super.
Cycle Steve OB says AI girlfriends don't nag you.
Also true SO. All right, guys.
We love you actually. Actually, next week, guys, I'm
going to be holding down the Fort.
Nico is on a trip to Paraguay. We have some things cooking for
you, but you stuck with me all week guys, so I'll see you on
the flip side. Have a good weekend.
See you on Monday. Peace out.
Today's.
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