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Literally hours ago, 
MicroStrategy, or formerly 

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MicroStrategy, now Strategy, is 
officially qualified for 

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inclusion into the S&P 500. 
This is not only massive for 

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Trad 5, but this could change 
everything for Bitcoin. 

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Could MSTR inclusion finally 
help to explain Michael Saylor's

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fascinating theory about the 
next Bitcoin bear market? 

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Let's take a listen to it. 
How do you expect the asset to 

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continue a price increase at 
these levels that we've seen? 

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I mean, can it keep that up over
the next five years, over the 

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next 10 years? 
And at what point do we see, you

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know, winter coming again, 
because that's been a a 

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permanent fixture of of this 
asset class, right? 

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It's gone from 0 or 1000 to 20 
and then back down to three or 

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four and then up to 50 and then 
back down to 15 and now up to 

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110. 
Like when does it drop again? 

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Winners not coming back, we're 
past that. 

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We're past that phase. 
If bitcoins not going to 0, it's

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going to $1,000,000 and you have
all the evidence you need to 

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determine that, right? 
The president of the United 

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States has determined he 
supports Bitcoin. 

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The cabinet supports Bitcoin. 
Scott Peasant supports Bitcoin. 

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Paul Atkins has shown himself to
be an enthusiastic believer of 

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Bitcoin and digital assets. 
Ken Tez at CFTC feels the same. 

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Ray, the the banks are going to 
custody Bitcoin. 

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Bitcoin is has gotten through 
its riskiest period. 

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The accounting has been 
corrected. 

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There's now only 450 Bitcoin a 
day available for Sale by 

28
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natural sellers. 
That's the miners. 

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At this level, that works out to
about $50 million of Bitcoin 

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available for sale every day. 
If that $50 million is bought, 

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then the price has got to move 
up to find any natural, any, any

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seller that's price sensitive. 
Now, if you do the math, you'll 

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actually see the Bitcoin 
treasury companies by themselves

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are buying the entire natural 
supply. 

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Yeah, BlackRock and the ETFs are
buying another measure of that. 

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And we've got nation state 
actors coming into the space. 

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So I think when Bitcoin rallies,
if it surges to 500,000 or 

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$1,000,000, then maybe we could 
talk about it crashing down by a

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$200,000 a coin. 
But at the current price levels,

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it only takes $50,000,000 to 
turn the entire drive shaft of 

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the crypto economy. 
One turn and you've got the 

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Trump Media Organization 
announcing 2 1/2 billion. 

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You've got GameStop announcing 
500 million. 

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You've got my company that's 
raising billions and billions of

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dollars. 
So the writing is on the wall. 

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Bitcoins moving higher. 
Let's go wow. 

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Before we go in and break down 
this article, I do want to 

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acknowledge the fact that this 
clip was like, I don't know, 2-3

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months ago and the price ticker 
was exactly the price that we're

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at today, Nico. 
So I did the poll in the chat. 

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Is winter coming? 
Who knows who knows exactly, but

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I mean, his point remained the 
same. 

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We, we've been saying this on 
the show for a while. 

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What is going on right now makes
absolutely no sense. 

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Like the math around this makes 
absolutely no sense. 

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If this amount of capital is 
coming into Bitcoin, the amount 

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of Bitcoin that is being 
released daily, which 

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historically has been kind of 
what needs to get eaten up 

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before the price starts running.
It just, it makes absolutely no 

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sense. 
Though you do have to bring in 

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that extra factor of all the 
coins that are hitting 

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exchanges. 
I don't know if you guys saw 

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over the weekend, but we saw 
another huge OG tranche hit the 

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exchanges. 
I think it was another 20, 4000 

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coins. 
I think they broke off like 3K 

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and they're continuing selling. 
So there's a lot of coins 

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hitting the exchanges right now.
So this clip right here, you 

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know, that math that Sailor laid
out for us, it really does 

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explain kind of like the the 
macro dynamics playing out. 

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It's not really factoring a lot 
of people that are currently 

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selling right now. 
But I don't know, Nico, before 

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we break this down, what's your 
I know we've talked about this 

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clip before the you know, winter
isn't coming. 

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And I was literally saying it 
this morning while I was in the 

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gym. 
It's like, man, you know, right 

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00:04:25,520 --> 00:04:29,080
now, it really feels like one of
those times where you have to 

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like out trade your emotions 
because emotionally we're all 

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drained. 
We're all like, man, is this 

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00:04:33,480 --> 00:04:36,200
dump coming? 
Are we, are we double topping 

80
00:04:36,200 --> 00:04:37,440
here? 
What is going on? 

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00:04:37,440 --> 00:04:40,560
Because the price should be 
going up, but it's always 

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dumpiest before it's pumpiest. 
And so when you feel like you 

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should be selling your Bitcoin, 
that's probably when you should 

84
00:04:46,600 --> 00:04:48,560
be acquiring it. 
And if you're being honest with 

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yourself, I think we're all I 
know we're we're we're stupidly 

86
00:04:51,360 --> 00:04:54,400
bullish here every single day. 
But if you're looking at the 

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00:04:54,400 --> 00:04:58,080
price right now and you all are 
following the price and what's 

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00:04:58,080 --> 00:05:00,080
going on, you can see the market
sentiment. 

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00:05:00,440 --> 00:05:03,880
It does make you almost want to 
puke, but you're like, that's 

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00:05:03,880 --> 00:05:05,600
why I I know it's going to start
ripping. 

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00:05:05,600 --> 00:05:08,920
So before we get into the big 
announcement, Nico, let's just 

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00:05:08,920 --> 00:05:11,800
let's just double back on what 
Saylor was saying. 

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Is the winter coming? 
Nico, you've been having a lot 

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00:05:15,040 --> 00:05:17,520
more conversations with other 
bitcoiners. 

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00:05:17,520 --> 00:05:23,000
So are you still bearish? 
Oh, oh, am I losing you? 

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00:05:23,120 --> 00:05:28,440
Oh, there you are. 
You're back. 

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00:05:28,440 --> 00:05:29,240
You're back. 
You're back. 

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00:05:29,280 --> 00:05:32,080
I've been having these, I've 
been having these existential 

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00:05:32,080 --> 00:05:35,680
thoughts, right? 
And I think that's the key thing

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00:05:35,680 --> 00:05:45,760
to phrase here. 
Or you're not, dude, you're 

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00:05:45,760 --> 00:05:47,040
Internet. 
It's wack. 

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Refresh. 
Refresh. 

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00:05:49,320 --> 00:05:51,040
And I'll break down this story. 
Refresh. 

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Yeah, Refresh. 
All right, Nico. 

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00:05:53,560 --> 00:05:55,720
Has a really bad Internet again 
today. 

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00:05:55,960 --> 00:05:59,240
I thought we fixed that. 
Anyways, here is the headline 

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00:05:59,240 --> 00:06:01,240
for you guys, so let me see if 
it pops up. 

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00:06:01,240 --> 00:06:04,160
Yes, it does. 
This one's on Yahoo Finance. 

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00:06:04,160 --> 00:06:06,960
They are using Coindesk. 
The original kind of news break 

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did come out of Bloomberg, I 
believe, but I don't have the 

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00:06:09,880 --> 00:06:13,680
Bloomberg Terminal anymore, so 
we're going to use Yahoo Finance

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00:06:13,680 --> 00:06:16,160
here anyway. 
The headline is strategy 

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qualifies for S&P 500 inclusion 
decision could come on Friday. 

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So by Friday, we won't know if 
strategy is included into the 

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00:06:25,800 --> 00:06:27,480
S&P 500 now. 
The. 

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00:06:27,480 --> 00:06:32,040
Really big game changer of this 
is so many people have the S&P 

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00:06:32,040 --> 00:06:35,080
500 in their portfolios. 
It's basically passive income 

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00:06:35,080 --> 00:06:38,520
coming into, you know the S&P 
500. 

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00:06:38,520 --> 00:06:42,400
And so if this is playing out 
and of course sailor stock 

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00:06:42,400 --> 00:06:46,760
continues to rise well this ATM 
basically him getting loans, 

121
00:06:46,880 --> 00:06:50,000
acquiring more Bitcoin. 
The flywheel, as it's been 

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00:06:50,000 --> 00:06:53,600
known, is going to accelerate 
and go into OverDrive. 

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00:06:53,600 --> 00:06:57,320
And now I, I forget what the 
numbers is, but 10s of millions 

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00:06:57,520 --> 00:07:05,320
of people are now going to be 
passively, tactically investing 

125
00:07:05,320 --> 00:07:07,480
in Bitcoin. 
Are you back? 

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00:07:07,480 --> 00:07:08,320
Yeah, it seems like you're. 
Back. 

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00:07:08,840 --> 00:07:11,800
I am, I am back, I am back. 
Sorry guys, I don't know what 

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00:07:11,800 --> 00:07:16,080
I've been trying to fix this for
the last week or so and I don't 

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00:07:16,080 --> 00:07:18,360
know, there's just, I don't know
hotel Wi-Fi. 

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00:07:18,560 --> 00:07:22,480
But the point that I wanted to 
make is this point, and I think 

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00:07:22,480 --> 00:07:26,200
it's very, very fitting for Opti
what you were talking about in 

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00:07:26,200 --> 00:07:30,840
the beginning of show. 
And this is a post by Vijay 

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00:07:30,840 --> 00:07:35,360
Boyapati, right? 
And it kind of goes along the 

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00:07:35,360 --> 00:07:41,240
theme that you're talking about 
Opti where it's like, OK, like 

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00:07:41,840 --> 00:07:44,840
like what is, is winter coming 
back, right? 

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00:07:45,000 --> 00:07:48,120
It is, is the is winter even a 
thing? 

137
00:07:48,120 --> 00:07:50,000
Is it even a possibility 
anymore? 

138
00:07:50,560 --> 00:07:54,880
And this is something that I 
think a lot of Bitcoiners, 

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00:07:54,880 --> 00:07:58,000
especially if you're like me and
Opti that are like these 

140
00:07:58,000 --> 00:08:04,640
dopamine addicts from class of 
20/16/2017, you know, we're used

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00:08:04,640 --> 00:08:06,680
to that parabola. 
We're used to that like 

142
00:08:06,680 --> 00:08:11,640
parabolic run. 
Now we don't know if that is 

143
00:08:11,640 --> 00:08:14,000
over. 
We might still be getting that 

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00:08:14,000 --> 00:08:17,800
at the end at the Q4, we're in 
Q4 right now, so after. 

145
00:08:17,840 --> 00:08:21,000
September Q3Q3Q3 starts in what,
like a week or two? 

146
00:08:21,360 --> 00:08:24,840
No, dude, this is Q4. 
This is Q4, bro. 

147
00:08:24,840 --> 00:08:26,640
Yeah, this is the last four 
months of the year. 

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00:08:26,640 --> 00:08:28,640
Literally today is the first 
year. 

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00:08:28,640 --> 00:08:30,600
Well, it's the last three 
months, Bro 4. 

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00:08:30,840 --> 00:08:32,559
Four quarters, three months 
come. 

151
00:08:32,600 --> 00:08:34,080
On, you're right, you're right, 
you're right, you're absolutely 

152
00:08:34,080 --> 00:08:37,880
right. 
But the point is, is that Q4 of 

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00:08:37,880 --> 00:08:41,880
the year after the halving tends
to be explosive, right? 

154
00:08:42,240 --> 00:08:44,640
And we're a month away from 
that. 

155
00:08:45,200 --> 00:08:48,680
But one of the things that I 
posted this morning was I said, 

156
00:08:48,800 --> 00:08:53,040
hey guys, at the beginning of 
the year, our live stream, me 

157
00:08:53,040 --> 00:08:56,680
and Opti would spin up a live 
stream and it would have 1000 

158
00:08:56,680 --> 00:09:00,240
live viewer, like 1500 live 
years just on YouTube alone, 

159
00:09:00,640 --> 00:09:01,960
right? 
Not even counting the other 

160
00:09:01,960 --> 00:09:06,400
platforms and everyone was hyped
out of their minds. 

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00:09:06,400 --> 00:09:09,680
I never forgot that that it felt
like yesterday that was 

162
00:09:09,680 --> 00:09:12,000
happening. 
And the reason that that was 

163
00:09:12,000 --> 00:09:17,120
happening was because of the new
administration coming in and the

164
00:09:17,120 --> 00:09:20,520
day Trump was inaugurated. 
You know what the Bitcoin price 

165
00:09:20,520 --> 00:09:29,480
was 109,009 months later, Nine 
months a baby. 

166
00:09:29,480 --> 00:09:32,440
It gets developed and birthed in
nine months. 

167
00:09:32,440 --> 00:09:34,720
It takes nine months for that 
process to happen. 

168
00:09:34,920 --> 00:09:38,120
It's a long time. 
Think about it, a year of your 

169
00:09:38,120 --> 00:09:42,160
life, almost a year of your life
has passed and the price of 

170
00:09:42,160 --> 00:09:49,120
Bitcoin is at $108,745. 
And what has happened in between

171
00:09:49,480 --> 00:09:54,600
was the price went down to 76. 
This is the year after the 

172
00:09:54,600 --> 00:09:59,320
having like, this is what is 
going on right now where this 

173
00:09:59,320 --> 00:10:01,840
is, this is weird. 
This is not what we're used to. 

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00:10:01,840 --> 00:10:05,160
And I know you get a lot of, and
I, and I have so much respect 

175
00:10:05,160 --> 00:10:07,440
for these guys. 
And I and I admire their work 

176
00:10:07,720 --> 00:10:11,280
and admire the, you know, the, 
the stuff that they're doing and

177
00:10:11,280 --> 00:10:13,760
the articles they're putting 
together and, and, and the 

178
00:10:13,760 --> 00:10:16,000
analytics. 
And I agree with a lot of them. 

179
00:10:16,520 --> 00:10:19,040
But look, guys, the reality is 
this. 

180
00:10:19,040 --> 00:10:23,600
It's a very simple reality. 
If the price hasn't moved in 

181
00:10:23,600 --> 00:10:26,240
nine months, we're not in a bull
market. 

182
00:10:26,520 --> 00:10:28,840
It's not by definition, it's not
a bull market. 

183
00:10:28,840 --> 00:10:33,040
Someone in the chat saying BTC 
stablecoin, Yeah, of course 

184
00:10:33,240 --> 00:10:35,240
that's what it feels like. 
And this is what I've been 

185
00:10:35,240 --> 00:10:37,160
joking about. 
And a lot of people are making 

186
00:10:37,160 --> 00:10:40,840
fun of me, you know, and they 
say, but Nico, it's been going 

187
00:10:40,840 --> 00:10:42,840
good. 
And I know I'm nitpicking the 

188
00:10:42,840 --> 00:10:45,800
the time, OK? 
Because to be fair, you know, 

189
00:10:46,040 --> 00:10:50,760
bitcoins performed fantastically
over the last three years. 

190
00:10:50,760 --> 00:10:56,160
It's it's performed incredibly. 
So it's done super, super well, 

191
00:10:56,360 --> 00:10:59,640
don't get me wrong. 
But this is the year after the 

192
00:10:59,640 --> 00:11:02,480
halving. 
Historically, this is when price

193
00:11:02,480 --> 00:11:06,040
number goes up. 
Now we can still get that in Q4,

194
00:11:06,440 --> 00:11:09,080
right? 
Everyone knows October is very 

195
00:11:09,080 --> 00:11:11,440
famous for that. 
But what if October doesn't 

196
00:11:11,440 --> 00:11:14,280
happen? 
What if we don't get an October?

197
00:11:14,600 --> 00:11:19,040
What if moving forward and Vijay
Boyapati said this and I know 

198
00:11:19,040 --> 00:11:20,960
someone else said this who's 
really smart? 

199
00:11:21,400 --> 00:11:25,760
He said the path of maximum pain
is perhaps the path of maximum 

200
00:11:25,760 --> 00:11:30,240
boredom. 
Slow grind up followed by 

201
00:11:30,240 --> 00:11:36,560
periodic but fairly shallow 
resets with no blow off top and 

202
00:11:36,560 --> 00:11:41,200
no gut turning. 
Corrections bro. 

203
00:11:41,840 --> 00:11:43,880
Oh Opti, how do you feel about 
that? 

204
00:11:44,280 --> 00:11:48,160
That was posted the last day of 
August, so yesterday. 

205
00:11:48,400 --> 00:11:52,520
How do you feel about that post?
Honestly, the more, the longer 

206
00:11:52,520 --> 00:11:56,120
we are going in this year, the 
more I am starting to really 

207
00:11:56,120 --> 00:11:58,960
lean into we're going to be 
bored to death to a million. 

208
00:11:58,960 --> 00:12:01,360
Like we've been joking for a 
while. 

209
00:12:01,360 --> 00:12:05,560
You know, you pump crab or pump,
dump crab, repeat. 

210
00:12:05,920 --> 00:12:08,040
And that's like the cycle we're 
at. 

211
00:12:08,720 --> 00:12:11,880
With that being said, though, I,
I'm still waiting for the 

212
00:12:11,880 --> 00:12:14,000
parabolic run here. 
And, and this is just like a 

213
00:12:14,000 --> 00:12:17,200
vibe check, you know, like I'm, 
I'm in your walking vibe check 

214
00:12:17,200 --> 00:12:19,480
here, 'cause you, you guys see 
me go through the emotions every

215
00:12:19,480 --> 00:12:22,840
single day. 
And as much as I really, I was 

216
00:12:22,840 --> 00:12:25,280
literally complaining about this
morning with Nico, like I'm 

217
00:12:25,280 --> 00:12:27,240
like, man, can we get a pump, 
man? 

218
00:12:27,240 --> 00:12:29,920
Like can we get a pump? 
And then we went down like, you 

219
00:12:29,920 --> 00:12:32,960
know, the whale numbers right 
now of, of how much coin they're

220
00:12:32,960 --> 00:12:34,640
dropping. 
And like, man, we're so broke 

221
00:12:34,640 --> 00:12:36,920
compared to these whales. 
Like this sucks. 

222
00:12:38,320 --> 00:12:42,160
As much as I really would love 
and I, I'm basically at this 

223
00:12:42,160 --> 00:12:44,920
point need a pump just to like 
feel something again. 

224
00:12:44,920 --> 00:12:47,560
I'm just like dead inside here. 
I would. 

225
00:12:47,560 --> 00:12:49,480
I would, honestly. 
Prefer. 

226
00:12:49,480 --> 00:12:53,040
This playing out and having less
of a the bear market, like if we

227
00:12:53,040 --> 00:12:55,160
have no more bear market ever 
again. 

228
00:12:55,400 --> 00:12:58,640
I am so with that because I 
think I'm more traumatized of 

229
00:12:58,640 --> 00:13:02,080
the last bear market than I am 
of the 2021 double top. 

230
00:13:02,560 --> 00:13:05,080
The last bear market was brutal 
for us. 

231
00:13:05,280 --> 00:13:08,680
You know we we fully committed 
to simply Bitcoin during the 

232
00:13:08,680 --> 00:13:11,800
bear. 
It was rough man you know being 

233
00:13:11,800 --> 00:13:15,000
all in on Bitcoin in every 
aspect of your life is rough 

234
00:13:15,000 --> 00:13:17,320
during a bear market. 
So I would love to eliminate 

235
00:13:17,320 --> 00:13:19,600
bear markets. 
I'm totally with that That 

236
00:13:19,600 --> 00:13:22,240
sounds way nicer to me. 
Hey, if that means we're a 

237
00:13:22,240 --> 00:13:25,840
stablecoin now I will take the 
stability of Bitcoin and not 

238
00:13:25,840 --> 00:13:30,040
have 80% drawdowns again. 
No, I really want another pump 

239
00:13:30,040 --> 00:13:33,520
Nico I I need I need some games.
I I not not only for the Fiat 

240
00:13:33,520 --> 00:13:36,360
price, it's really for the 
dopamine kick like waking up 

241
00:13:36,360 --> 00:13:38,480
every morning and seeing the 
price just start ripping. 

242
00:13:38,480 --> 00:13:41,680
It's just so much more fun. 
You know, I, I, I like, I love 

243
00:13:41,680 --> 00:13:44,680
bear markets, but I love just 
how stupid everyone gets on 

244
00:13:44,680 --> 00:13:47,080
Twitter during the bull runs. 
They're just so much fun. 

245
00:13:47,080 --> 00:13:50,040
Everyone's losing their minds. 
That's the fun I want. 

246
00:13:50,040 --> 00:13:52,080
That's the fun I'm looking for 
for Q4. 

247
00:13:52,080 --> 00:13:55,880
So who knows, man? 
We are addicts. 

248
00:13:55,880 --> 00:13:59,520
We legitimately are addicts. 
I'm not even going to lie about 

249
00:13:59,520 --> 00:14:01,280
you. 
I'm an addict for the price. 

250
00:14:02,120 --> 00:14:04,640
Anyways, Niko, keep going. 
Yeah, keep going. 

251
00:14:05,680 --> 00:14:07,640
No, you absolutely hit the nail 
on the head, man. 

252
00:14:07,640 --> 00:14:10,960
I think you know, I I think 
especially if you're from the 

253
00:14:10,960 --> 00:14:16,080
earlier classes, you know this, 
this is uneventful. 

254
00:14:16,080 --> 00:14:19,680
I don't care what anyone says. 
I just do not care. 

255
00:14:20,000 --> 00:14:24,200
I don't care. 
I know, I understand that what 

256
00:14:24,200 --> 00:14:26,760
you're saying, the argument that
what you're saying. 

257
00:14:26,760 --> 00:14:29,120
I don't want to name any names 
there because these guys are my 

258
00:14:29,120 --> 00:14:33,080
friends, right? 
But like, I get what you're 

259
00:14:33,080 --> 00:14:36,440
saying in terms of like, OK, 
Nico, but like, All in all, 

260
00:14:36,600 --> 00:14:39,440
we're up. 
Like, we're doing really, really

261
00:14:39,440 --> 00:14:44,400
well. 
We're up 16% year, year to date,

262
00:14:44,520 --> 00:14:48,000
Nico, it's so great. 
Man, I get that argument. 

263
00:14:48,080 --> 00:14:50,480
I get that argument, and it's a 
true argument. 

264
00:14:50,480 --> 00:14:53,400
Like if you look at the last 
three years in Bitcoin 

265
00:14:53,760 --> 00:14:57,920
percentage terms, yeah, 
fantastic, fantastic return. 

266
00:14:58,040 --> 00:15:02,280
You cannot deny that, right? 
The bottom was 16,000 and we're 

267
00:15:02,280 --> 00:15:05,520
at 108,000. 
It's a fantastic return. 

268
00:15:05,520 --> 00:15:07,320
Where else are you going to get 
those types of return? 

269
00:15:07,320 --> 00:15:11,360
They don't exist unless you take
you take a huge risk and Bitcoin

270
00:15:11,360 --> 00:15:14,480
like I, I, I've seen Bitcoin as 
a sure thing for a long time 

271
00:15:14,480 --> 00:15:17,400
now, right. 
So, you know, that's the 

272
00:15:17,400 --> 00:15:20,400
conversation. 
I think that that post by VJ 

273
00:15:20,480 --> 00:15:26,320
kind of summarizes it like what 
if the era of parabolas is over?

274
00:15:26,560 --> 00:15:32,440
What if we are now entering 
bitcoins, a maturing asset. 

275
00:15:32,440 --> 00:15:37,360
The market cap is so big that 
you know what it's going to go 

276
00:15:37,360 --> 00:15:40,680
up. 
It's just the, the, the years 

277
00:15:40,680 --> 00:15:45,320
that it goes up 100 or 200 or 
300%, those years are gone. 

278
00:15:45,720 --> 00:15:47,960
You know, those years are gone, 
those years are gone. 

279
00:15:47,960 --> 00:15:51,040
Those years don't exist anymore,
but a Goodyear could still be 

280
00:15:51,040 --> 00:15:52,920
50%. 
Now, let me tell you guys 

281
00:15:52,920 --> 00:15:56,960
something. 
If you guys get a 50% return on 

282
00:15:57,320 --> 00:16:02,160
on your investment in a year, 
you're crushing the game. 

283
00:16:02,160 --> 00:16:06,440
You're doing really well, right?
So and now if you compound that,

284
00:16:06,520 --> 00:16:10,880
because that's the beauty of 
Bitcoin, it's not just 50% one 

285
00:16:10,880 --> 00:16:14,880
year and then it goes down, it's
50% compounding. 

286
00:16:15,160 --> 00:16:18,760
Now, if you take a look at 
Sailor's theory, right, he 

287
00:16:18,760 --> 00:16:22,480
believes it's going to go from 
40 down to 30 and then 

288
00:16:22,480 --> 00:16:26,960
eventually down to 20 over the 
next 20 over the next 20 years. 

289
00:16:27,440 --> 00:16:32,680
If you compound those types of 
returns year over year for 20 

290
00:16:32,680 --> 00:16:36,040
years, that's how you get to $13
million per coin. 

291
00:16:36,040 --> 00:16:39,920
I think he actually even updated
his his price prediction to like

292
00:16:39,920 --> 00:16:41,920
something like 2024 million, 
right? 

293
00:16:42,440 --> 00:16:46,400
So, yeah, I mean, that's effing 
fantastic. 

294
00:16:46,400 --> 00:16:50,240
Like that's a that's an 
incredible, incredible, 

295
00:16:50,240 --> 00:16:56,280
incredible, incredible return. 
But again, as Bitcoiners, we are

296
00:16:56,280 --> 00:16:59,880
spoiled children. 
We're spoiled children, Opti 

297
00:16:59,880 --> 00:17:02,920
like, let's just admit it. 
Let's admit we have a problem. 

298
00:17:02,920 --> 00:17:05,720
Let's admit that we are spoiled,
right? 

299
00:17:05,720 --> 00:17:08,960
Let let's just. 
Admit I I just admitted I'm an 

300
00:17:08,960 --> 00:17:11,599
addict. 
I all right, guys, first step is

301
00:17:11,599 --> 00:17:13,480
admitting I'm an addict. 
OK? 

302
00:17:13,560 --> 00:17:15,880
We we are admitting we are price
addict. 

303
00:17:16,560 --> 00:17:19,520
Yeah, I'm a price addict here. 
But hey, Nico, actually you said

304
00:17:19,520 --> 00:17:21,680
something and it reminded me of 
a different story. 

305
00:17:21,920 --> 00:17:25,640
And, and I'm, I'm don't I, I'm 
going to cover this S&P 500 news

306
00:17:25,640 --> 00:17:28,960
for you, but this was also on 
Yahoo this morning. 

307
00:17:28,960 --> 00:17:32,640
And it's literally, you know, 
and, and we're not here to like 

308
00:17:32,640 --> 00:17:36,240
confirm our bias via Yahoo news,
but they're saying exactly this.

309
00:17:36,240 --> 00:17:37,600
You know, Bitcoin is getting 
boring. 

310
00:17:37,600 --> 00:17:40,360
That could open more doors for 
the crypto asset on Wall Street.

311
00:17:40,680 --> 00:17:43,600
And essentially the first 
paragraph is like the wild price

312
00:17:43,600 --> 00:17:47,160
swings has come down this year. 
Key reason JP Morgan analysts 

313
00:17:47,160 --> 00:17:50,080
are saying that companies 
rapidly stockpiling the asset is

314
00:17:50,080 --> 00:17:52,880
probably the reason. 
And then going further down 

315
00:17:52,880 --> 00:17:58,480
here, where is this? 
There's a quote here. 

316
00:17:58,480 --> 00:18:02,680
So it goes the by lowering 
Bitcoin volatility, these new 

317
00:18:02,680 --> 00:18:05,720
buyers can make Bitcoin quote 
more attractive from a valuation

318
00:18:05,720 --> 00:18:08,720
point of view, adding that as 
its volatility drops, Bitcoin 

319
00:18:08,720 --> 00:18:12,800
could become more a more 
competitive alternative to gold.

320
00:18:12,800 --> 00:18:15,200
And while volatility doesn't 
equal outright investment risk, 

321
00:18:15,200 --> 00:18:19,400
it represents a key component. 
So, you know as much as we, as 

322
00:18:19,400 --> 00:18:22,520
you know, Bitcoin price junkies 
want to. 

323
00:18:22,520 --> 00:18:24,640
See it RIP. 
Again, there's a whole new 

324
00:18:24,640 --> 00:18:27,240
investor in the space and this 
does lead into. 

325
00:18:27,400 --> 00:18:31,800
If MicroStrategy does get added 
to the S&P 500, that they're 

326
00:18:31,800 --> 00:18:34,320
obviously looking at Bitcoin, 
yes, they want returns. 

327
00:18:34,320 --> 00:18:37,680
And like Nigo keeps saying, you 
know what, fifteen 3050% 

328
00:18:37,680 --> 00:18:39,840
returns, like those are good 
returns. 

329
00:18:39,840 --> 00:18:42,520
If you are looking at from the 
Wall Street perspective, from 

330
00:18:42,520 --> 00:18:45,800
our perspective, it's like, man,
we don't even get up out of bed 

331
00:18:45,800 --> 00:18:49,680
for a 15% return here, you know,
but the last three years we're 

332
00:18:49,680 --> 00:18:52,200
up like 650% or something like 
that. 

333
00:18:52,360 --> 00:18:55,040
So let's break this down a 
little bit because this is 

334
00:18:55,040 --> 00:18:57,320
probably what is fundamentally 
shifting. 

335
00:18:57,400 --> 00:18:59,560
And I don't know if you guys 
have been seeing I, I've been 

336
00:18:59,560 --> 00:19:01,600
mentioning Mitchell Harto on 
here a lot. 

337
00:19:01,920 --> 00:19:05,480
We're seeing more people kind of
catch on to this trend that the 

338
00:19:05,480 --> 00:19:08,040
market is changing. 
It's always different because 

339
00:19:08,040 --> 00:19:10,240
you know, as the Zencoe and 
goes, you never step into the 

340
00:19:10,240 --> 00:19:13,040
same river twice. 
But things are fundamentally 

341
00:19:13,040 --> 00:19:15,160
changing because there is a 
whole new investor. 

342
00:19:15,160 --> 00:19:18,320
And as I've been kind of 
covering lately, this idea that 

343
00:19:18,320 --> 00:19:22,280
institutional capital is here 
and retail is getting freaking 

344
00:19:22,280 --> 00:19:24,440
swept up by institutions right 
now. 

345
00:19:24,440 --> 00:19:27,080
They're acquiring all of the 
Bitcoin that's being released. 

346
00:19:27,400 --> 00:19:28,880
There's no retail interest right
now. 

347
00:19:28,880 --> 00:19:32,880
The volume is dead. 
And this new investor is looking

348
00:19:32,880 --> 00:19:36,400
at Bitcoin a little differently.
They do want to see it less 

349
00:19:36,400 --> 00:19:39,040
volatile. 
Now, does this mean the ETFs and

350
00:19:39,040 --> 00:19:41,600
all that has neutered all the 
fun here in Bitcoin? 

351
00:19:41,600 --> 00:19:43,600
And I know there's probably 
people in the chat like I 

352
00:19:43,600 --> 00:19:45,600
remember when you guys wouldn't 
talk about the price, bro. 

353
00:19:45,600 --> 00:19:47,480
Like you guys are talking about 
that constantly. 

354
00:19:47,480 --> 00:19:49,560
And it's like this is where we 
are right now. 

355
00:19:49,560 --> 00:19:51,720
This is the news. 
This is what's fundamentally 

356
00:19:51,720 --> 00:19:53,400
changing here. 
Yes, there's still the 

357
00:19:53,400 --> 00:19:56,200
separation of money and state. 
Yes, there's still a lot of 

358
00:19:56,200 --> 00:20:00,360
freedom minded, you know, tech 
dystopia news that we can be 

359
00:20:00,360 --> 00:20:02,440
covering. 
But the main question on 

360
00:20:02,440 --> 00:20:05,680
everyone's head right now is 
what is going on right now? 

361
00:20:05,680 --> 00:20:08,160
This is supposed to be the 
parabolic run and we haven't 

362
00:20:08,160 --> 00:20:11,600
seen it, as we've said, you 
know, since what, nine months? 

363
00:20:11,600 --> 00:20:15,760
We're basically a stable coin. 
It's been 109 K Bitcoin for over

364
00:20:15,760 --> 00:20:19,160
9 months at this point. 
But as we're seeing new 

365
00:20:19,160 --> 00:20:22,280
investors come into the space, 
as we're seeing a whole new risk

366
00:20:22,280 --> 00:20:26,280
tolerance come into the space, 
it is going for a moment to kind

367
00:20:26,280 --> 00:20:29,280
of shift markets. 
Structure and if you're coming 

368
00:20:29,280 --> 00:20:34,640
in from you know, say JP Morgan 
BlackRock, you don't want to see

369
00:20:34,640 --> 00:20:38,760
crazy downside, you know price 
movement. 

370
00:20:38,760 --> 00:20:43,360
So this volatility is probably a
sign of good things for other 

371
00:20:43,360 --> 00:20:47,280
people for us bitcoiners were 
like, man, this is this is not 

372
00:20:47,280 --> 00:20:50,280
what we signed up for here but 
anyways, let's let's break this 

373
00:20:50,280 --> 00:20:51,880
down a little bit and then we'll
chat about it. 

374
00:20:51,880 --> 00:20:55,480
So strategy qualifies for S&P 
500 inclusion decision and it 

375
00:20:55,480 --> 00:20:58,800
could come on Friday. 
Micro strategy now officially 

376
00:20:58,800 --> 00:21:01,880
strategy has officially 
qualified for potential 

377
00:21:01,880 --> 00:21:06,120
inclusion into the S&P 500 after
posting one of the strongest 

378
00:21:06,120 --> 00:21:09,480
quarters in its history in the 
second quarter of 2025, the 

379
00:21:09,480 --> 00:21:15,040
company reported $14 billion in 
operating income and $10 billion

380
00:21:15,040 --> 00:21:20,080
in net income, equal to 32.6 
dollars in diluted earnings per 

381
00:21:20,080 --> 00:21:22,120
share. 
Quarterly revenue came in at 

382
00:21:22,120 --> 00:21:26,200
114.5 million, a modest 2.7% 
increase. 

383
00:21:26,200 --> 00:21:29,360
Year over year with with. 
Subscription services rising 

384
00:21:29,360 --> 00:21:32,400
nearly 70%. 
The results mark a dramatic turn

385
00:21:32,400 --> 00:21:34,840
around from prior years when 
impairment charges tied to 

386
00:21:34,840 --> 00:21:36,960
Bitcoin depressed reported 
earnings. 

387
00:21:36,960 --> 00:21:40,680
Of course, the fair value 
accounting is now in play here. 

388
00:21:40,680 --> 00:21:42,360
They were the first ones to 
adopt this. 

389
00:21:42,600 --> 00:21:45,720
And so Strategy can now 
recognize its unrealized gains. 

390
00:21:45,960 --> 00:21:50,160
And of course, with it around 
100K, the company booked massive

391
00:21:50,160 --> 00:21:52,920
quote paper gains that 
transformed its balance sheet. 

392
00:21:53,200 --> 00:21:56,520
Now as of June 30th, Strategy 
held 597,000. 

393
00:21:56,520 --> 00:21:59,560
I think it's higher than this. 
I think they're in the 600K and 

394
00:21:59,560 --> 00:22:03,680
the firm highlighted a Bitcoin 
yield of 19.7 year today, a key 

395
00:22:03,680 --> 00:22:06,080
performance indicator. 
Now they raised their 

396
00:22:06,080 --> 00:22:07,960
guidelines. 
Of course, everyone kind of saw 

397
00:22:07,960 --> 00:22:10,760
this the other day and they kind
of moved some of the things 

398
00:22:10,760 --> 00:22:12,120
around. 
They are taking a little more 

399
00:22:12,120 --> 00:22:16,080
risk right now and people 
started to completely freak out 

400
00:22:16,080 --> 00:22:19,680
on the Internet. 
And so here's the here's the key

401
00:22:19,680 --> 00:22:21,320
here. 
The next potential window for 

402
00:22:21,320 --> 00:22:25,320
inclusion is September 2025 
rebalance, with announcements 

403
00:22:25,320 --> 00:22:29,160
expected September 5th and 
changes taking effect September 

404
00:22:29,160 --> 00:22:32,040
19th. 
While the S&P Dow Jones Indices 

405
00:22:32,040 --> 00:22:34,760
Committee retains discretion 
strategies, qualification 

406
00:22:34,760 --> 00:22:38,400
underscores the growing role of 
Bitcoin in mainstream financial 

407
00:22:38,400 --> 00:22:41,320
markets. 
That is probably the big key 

408
00:22:41,320 --> 00:22:44,080
here. 
Again, with their new 

409
00:22:44,080 --> 00:22:46,920
qualification, under score 
underscores the growing role of 

410
00:22:46,920 --> 00:22:48,720
Bitcoin in mainstream financial 
markets. 

411
00:22:48,720 --> 00:22:53,760
If 2025 doesn't have a great 
price here, what we are seeing 

412
00:22:53,760 --> 00:22:57,080
is Bitcoin is, for lack of 
better terms being accepted 

413
00:22:57,080 --> 00:22:59,240
here. 
They are looking at Bitcoin now.

414
00:22:59,240 --> 00:23:01,760
Like holy shit, we actually have
to hold this thing. 

415
00:23:01,760 --> 00:23:03,880
This is no longer anything we 
can ignore. 

416
00:23:04,040 --> 00:23:07,600
The biggest players in the world
are looking into Bitcoin and it 

417
00:23:07,600 --> 00:23:10,120
would be the first of course, 
Bitcoin treasury company need to

418
00:23:10,240 --> 00:23:13,520
enter the benchmark index 
symbolizing a landmark moment. 

419
00:23:13,520 --> 00:23:17,840
So if this does happen, this 
would be one of those defining, 

420
00:23:17,840 --> 00:23:21,120
defining moments here in 
Bitcoin's history. 

421
00:23:21,120 --> 00:23:25,200
And I, I've been saying 2025, I 
think is one of those years 

422
00:23:25,200 --> 00:23:28,200
where maybe we don't see the 
purchasing power increase that, 

423
00:23:28,200 --> 00:23:31,040
that we've seen in the past. 
But it will be one of those 

424
00:23:31,040 --> 00:23:34,680
years where we look back in 2025
was like that defining year 

425
00:23:34,680 --> 00:23:38,400
where everything was laid out 
and then Bitcoin can really make

426
00:23:38,400 --> 00:23:41,200
its run. 
So if the market does change 

427
00:23:41,200 --> 00:23:45,600
here, I think that is going to 
set up what Sailor is saying of 

428
00:23:45,600 --> 00:23:49,600
no winter ever again because 
there does seem to be an 

429
00:23:49,600 --> 00:23:52,600
infinite bid building up right 
now under Bitcoin. 

430
00:23:53,600 --> 00:23:56,200
And hey, that just means all of 
our savings. 

431
00:23:56,200 --> 00:23:59,280
That means our perfect money. 
Our money is just going to 

432
00:23:59,280 --> 00:24:02,760
increase in value and we can, 
you know, feel a little better 

433
00:24:02,760 --> 00:24:05,800
about it. 
But why isn't the price going 

434
00:24:05,800 --> 00:24:07,680
up? 
I think that's the the the 

435
00:24:07,680 --> 00:24:10,640
$1,000,000, the million satoshi 
question. 

436
00:24:10,720 --> 00:24:13,000
Someone someone says. 
So basically, it's over. 

437
00:24:15,320 --> 00:24:20,040
Back it up, it's done. 
I saw someone in the chat talk 

438
00:24:20,040 --> 00:24:23,200
about the S curve, right? 
And this is kind of like a 

439
00:24:23,240 --> 00:24:26,240
theory behind a lot of 
Bitcoiners, right? 

440
00:24:26,760 --> 00:24:30,120
A lot of bitcoiners have this 
theory, which is the S curve 

441
00:24:30,120 --> 00:24:33,920
adoption, right? 
So you have, you know, the 

442
00:24:33,960 --> 00:24:37,560
innovators, early adopters, 
early majority. 

443
00:24:37,960 --> 00:24:42,360
My personal opinion is we're 
like in the early majority 

444
00:24:42,360 --> 00:24:44,760
phase, in the beginning of the 
early majority phase. 

445
00:24:45,160 --> 00:24:48,320
We're no longer in the early 
adopter phase. 

446
00:24:48,320 --> 00:24:52,600
No, no, no, no, we're way past 
that, way past the innovator 

447
00:24:52,600 --> 00:24:54,320
phase. 
We're definitely in the early 

448
00:24:54,320 --> 00:24:57,000
majority phase going up this 
curve. 

449
00:24:57,000 --> 00:25:01,840
Now the question is, and this is
like the key difference between 

450
00:25:01,840 --> 00:25:05,120
people's opinions, right? 
By the way, AUS fantastic show 

451
00:25:05,120 --> 00:25:09,120
today, 754 people watching live 
on YouTube. 

452
00:25:09,360 --> 00:25:12,800
Shout out to the rumble audience
coming in strong and then on X 

453
00:25:12,800 --> 00:25:14,800
coming in strong as well. 
So if you guys are enjoying the 

454
00:25:14,800 --> 00:25:18,600
show, make sure to smash that 
like button really, really helps

455
00:25:18,600 --> 00:25:20,680
with the algo. 
So smash the like button share 

456
00:25:20,680 --> 00:25:21,920
the video. 
If you guys are enjoying the 

457
00:25:21,920 --> 00:25:24,840
content. 
This is simply Bitcoin live. 

458
00:25:25,000 --> 00:25:28,520
So let's talk about this right? 
So have we crossed the chasm? 

459
00:25:28,640 --> 00:25:30,840
Opti? 
Have we crossed the chasm? 

460
00:25:31,520 --> 00:25:34,200
I think we're crossing it. 
I think we're crossing it right 

461
00:25:34,200 --> 00:25:36,200
now. 
I think this is what the chasm 

462
00:25:36,200 --> 00:25:40,240
is like. 
We're seeing new interest from 

463
00:25:40,240 --> 00:25:43,000
new investors in Bitcoin. 
We're seeing Bitcoin talked 

464
00:25:43,000 --> 00:25:46,000
about at the highest levels. 
We're seeing nation states start

465
00:25:46,000 --> 00:25:48,320
to kind of dip their toes into 
Bitcoin. 

466
00:25:48,640 --> 00:25:52,920
We're seeing, you know, the ETF 
for Bitcoin just being launched.

467
00:25:52,920 --> 00:25:56,120
So it's what, a year old now? 
It's like almost two years old 

468
00:25:56,120 --> 00:25:58,120
now, a year, nine months or 
something like that. 

469
00:25:58,640 --> 00:26:02,120
And it is the best performing 
ETF ever. 

470
00:26:02,280 --> 00:26:06,120
Like we're seeing Sailor just 
finally being able to tap into 

471
00:26:06,120 --> 00:26:08,720
these capital markets. 
It's like, I think this is the 

472
00:26:08,720 --> 00:26:11,680
chasm being crossed right now, 
like we are crossing the Rubicon

473
00:26:11,680 --> 00:26:15,440
as we speak, and this is 
probably why we are seeing, you 

474
00:26:15,440 --> 00:26:18,040
know, just a bunch of funky 
movements in the market. 

475
00:26:18,040 --> 00:26:21,120
We're seeing things like not 
really play out how it's it 

476
00:26:21,120 --> 00:26:24,840
happened in the past. 
It does seem like the, you know,

477
00:26:24,840 --> 00:26:27,280
four year cycle might be 
changing here. 

478
00:26:27,280 --> 00:26:31,040
It looks like we're in the 
longest bear cycle ever. 

479
00:26:31,040 --> 00:26:33,640
It's like things are finally 
changing here. 

480
00:26:33,640 --> 00:26:36,920
So I I'm, I'm leaning on we are 
at the chasm right now, like 

481
00:26:36,920 --> 00:26:39,680
we're in the beginning of it. 
Maybe 2025 is the year. 

482
00:26:39,680 --> 00:26:43,680
The chasm. 
It's a chasm, chasm, chasm. 

483
00:26:44,600 --> 00:26:47,480
I think you're right. 
And then we have let me 

484
00:26:47,480 --> 00:26:50,480
pronounce that name correctly. 
We have sat wise Jinx in the 

485
00:26:50,480 --> 00:26:54,800
chat and here's the the big 
difference between I think what 

486
00:26:54,800 --> 00:26:59,000
Bitcoiners are talking about. 
So like are we on this type of 

487
00:26:59,000 --> 00:27:02,360
bell curve adoption or are we on
this type of bell curve 

488
00:27:02,360 --> 00:27:05,480
adoption? 
S curve, S curve, right. 

489
00:27:05,480 --> 00:27:08,520
So the bell curve and then the S
curve, right. 

490
00:27:08,800 --> 00:27:12,400
And if we are in the S curve, 
where where is the S where is 

491
00:27:12,400 --> 00:27:14,880
the curve? 
Right dude, Chasm. 

492
00:27:14,880 --> 00:27:16,440
Right here, bro. 
Chasm. 

493
00:27:17,480 --> 00:27:20,560
You think it's the chasm. 
So the chasm is the sideways, 

494
00:27:21,120 --> 00:27:23,160
the sideways sideways. 
Sideways. 

495
00:27:23,440 --> 00:27:24,960
Honestly, is that not what 
we're? 

496
00:27:26,120 --> 00:27:28,920
Not what? 
We're doing right now sad, flat 

497
00:27:28,920 --> 00:27:31,320
and sideways. 
I want to know what the audience

498
00:27:31,320 --> 00:27:32,880
thinks. 
We're about to break out 800 

499
00:27:32,880 --> 00:27:35,040
live viewers. 
Guys, where do you think we are 

500
00:27:35,440 --> 00:27:40,800
in the Bitcoin price adoption? 
Wait Nico, so you go go, go 

501
00:27:40,800 --> 00:27:43,440
down. 
Does this have a time on the on 

502
00:27:43,440 --> 00:27:45,240
the X axis? 
Is this is there time? 

503
00:27:45,240 --> 00:27:47,680
No. 
There's RND effort which I don't

504
00:27:47,680 --> 00:27:50,000
think it applies. 
To this so wait. 

505
00:27:50,000 --> 00:27:51,760
Let me, let me let me do a 
finger. 

506
00:27:52,920 --> 00:27:55,320
Yeah, yeah. 
So the next five years bro, is 

507
00:27:55,320 --> 00:27:58,600
when we. 
Is when we get the real run up 

508
00:27:58,600 --> 00:28:02,080
past the mill. 
That's just gonna blow up. 

509
00:28:02,080 --> 00:28:04,200
Could you imagine that that 
would that would take everyone 

510
00:28:04,200 --> 00:28:06,360
by storm. 
Well, let's I I really. 

511
00:28:06,360 --> 00:28:07,720
Want to know what that's my 
thesis? 

512
00:28:07,800 --> 00:28:11,120
Yeah, let let we'll we'll chat 
you guys talk about in the chat,

513
00:28:11,120 --> 00:28:13,160
but that's literally the thesis 
here. 

514
00:28:13,160 --> 00:28:18,120
It's like, look, guys, you 
understand Bitcoin and even 

515
00:28:18,120 --> 00:28:21,360
within our quote UN quote 
industry, there's still a lot of

516
00:28:21,360 --> 00:28:23,360
people that are shit corners 
that don't really understand 

517
00:28:23,360 --> 00:28:27,360
what game is being played here. 
There's still people on Wall 

518
00:28:27,360 --> 00:28:30,120
Street that probably haven't 
even taken the time to 

519
00:28:30,720 --> 00:28:33,120
understand what Bitcoin is. 
They're just maybe here, you 

520
00:28:33,120 --> 00:28:35,160
know, throwing, throwing a 
little bit of chump change at it

521
00:28:35,160 --> 00:28:36,960
and being like, whatever, like 
give me the games. 

522
00:28:38,120 --> 00:28:42,040
If you kind of take that 
conversation further and you 

523
00:28:42,040 --> 00:28:44,840
talk to people that aren't 
Bitcoiners, that aren't on 

524
00:28:44,840 --> 00:28:47,440
Twitter, like your friends and 
your family, most of them 

525
00:28:47,440 --> 00:28:49,160
probably still think we're 
crazy. 

526
00:28:49,160 --> 00:28:51,280
They still, they don't 
understand the fundamental 

527
00:28:51,280 --> 00:28:54,320
problem. 
And and that just leads me to 

528
00:28:54,320 --> 00:28:56,680
believe it's like someone said 
in the chat earlier, we're like 

529
00:28:56,680 --> 00:29:00,200
not even 1% of the bond markets 
right now and everyone thinks 

530
00:29:00,200 --> 00:29:01,720
it's over. 
It's like, I think it's just 

531
00:29:01,720 --> 00:29:05,040
starting to begin. 
There's not that much capital in

532
00:29:05,040 --> 00:29:07,200
Bitcoin. 
There's not that many people 

533
00:29:07,200 --> 00:29:10,320
that are that fervent about what
Bitcoin is and trying to 

534
00:29:10,320 --> 00:29:12,680
accumulate Bitcoin. 
And so if you think the gains 

535
00:29:12,680 --> 00:29:14,560
are over, you think it's 
diminishing returns. 

536
00:29:14,560 --> 00:29:19,240
It's like we're not even at like
1% of the total population, like

537
00:29:19,240 --> 00:29:21,600
wait till we get to, you know, 5
or 10%. 

538
00:29:21,600 --> 00:29:23,440
And that's when the real fun's 
happening. 

539
00:29:23,840 --> 00:29:27,880
But you know, I guess, I guess 
This is why we can't have nice 

540
00:29:27,880 --> 00:29:30,880
things, Nico is because. 
Everyone's asleep at the wheel. 

541
00:29:33,080 --> 00:29:35,880
Oh my God. 
So guys, let us know. 

542
00:29:35,880 --> 00:29:37,080
I want to go. 
I want to go. 

543
00:29:37,080 --> 00:29:38,840
I want to see what everyone's 
thinking. 

544
00:29:39,240 --> 00:29:41,400
Yeah, this is the best thing to 
cater right here, Nico. 

545
00:29:41,600 --> 00:29:43,800
Only 700. 
People watching this globally 

546
00:29:43,800 --> 00:29:46,000
were early. 
Yeah, yeah. 

547
00:29:46,640 --> 00:29:49,880
I mean for being the number one 
watch live show, right, that, 

548
00:29:49,880 --> 00:29:54,040
that definitely says we're early
for sure still in innovators, 

549
00:29:54,040 --> 00:29:58,800
someone says Sublime says we're 
in the it's over section. 

550
00:29:59,760 --> 00:30:08,720
Yes, Curve, let me see early, 
early majority, early majority S

551
00:30:08,720 --> 00:30:10,320
curve, I would, I would agree 
with that. 

552
00:30:10,320 --> 00:30:11,920
But I think, I think Opti's 
right. 

553
00:30:11,920 --> 00:30:14,640
We're in the cash. 
Now this one's the best. 1 John,

554
00:30:14,640 --> 00:30:16,480
we're in the cash. 
John Tinkler. 

555
00:30:16,760 --> 00:30:19,720
Junior look at the adoption. 
Percentages at the bottom of the

556
00:30:19,720 --> 00:30:21,120
chart. 
We are in the first phase. 

557
00:30:21,160 --> 00:30:23,400
Honestly, I kind of agree with 
that. 

558
00:30:24,480 --> 00:30:27,760
You think so dude? 
Well, that's it bro. 

559
00:30:28,240 --> 00:30:32,800
We are literally less than I, I 
think the numbers are inflated. 

560
00:30:32,800 --> 00:30:36,760
I don't think we're at 3% of 
global adoption of Bitcoin yet. 

561
00:30:36,760 --> 00:30:39,400
Like maybe that's the official 
number, but it I don't think 

562
00:30:39,400 --> 00:30:42,840
we're at 3% yet. 
I don't know, I don't know. 

563
00:30:43,120 --> 00:30:45,920
If you guys are enjoying today's
show, make sure to smash that 

564
00:30:45,920 --> 00:30:47,800
like button. 
We still have a ton of content 

565
00:30:47,800 --> 00:30:52,320
leftover for you guys. 
We got Jeff Booth, he went on 

566
00:30:52,320 --> 00:30:55,720
Kitco News. 
He was dropping some hot fire. 

567
00:30:55,840 --> 00:30:57,160
We're going to be talking about 
that. 

568
00:30:57,160 --> 00:31:01,800
And then also some interesting 
news coming out of Metaplanet. 

569
00:31:01,800 --> 00:31:05,480
So for anyone who doesn't know a
lot of these treasury companies,

570
00:31:05,960 --> 00:31:11,800
in percentage terms, their 
stocks are down like 5060%, but 

571
00:31:12,160 --> 00:31:15,040
what are they doing? 
They're still trying to raise 

572
00:31:15,040 --> 00:31:19,440
money to buy more Bitcoin. 
How does that work, right? 

573
00:31:19,440 --> 00:31:24,480
Think about that for a second. 
So like, if your stock is down 

574
00:31:24,480 --> 00:31:30,520
50 or 60%, how is the market 
convinced to give you more money

575
00:31:30,520 --> 00:31:32,600
to buy more Bitcoin? 
Like, what does that work? 

576
00:31:32,600 --> 00:31:34,160
And again, that's never happened
before. 

577
00:31:34,160 --> 00:31:38,560
We're in completely uncharted 
territory for the Bitcoin 

578
00:31:38,560 --> 00:31:41,240
treasury companies. 
And there is a phenomenal 

579
00:31:41,240 --> 00:31:44,600
article written by Bloomberg 
talking about just that. 

580
00:31:44,800 --> 00:31:47,280
And of course, Opti's got 
something special for you guys 

581
00:31:47,280 --> 00:31:51,120
during the culture like always. 
But before we get into all of 

582
00:31:51,120 --> 00:31:54,120
that, I do want to give a very 
special shout out to Simply 

583
00:31:54,120 --> 00:32:00,480
Bitcoins lead sponsor by far the
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584
00:32:00,480 --> 00:32:05,200
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585
00:32:05,360 --> 00:32:08,200
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bitcoinwell.com here at Simply 

586
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Well, it's automatic self 

587
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What does that mean? 

588
00:32:11,560 --> 00:32:14,560
That means that when you buy 
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589
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590
00:32:18,160 --> 00:32:21,880
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They don't even give you the 

591
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592
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To get started, go to 
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593
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594
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595
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597
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598
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599
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Go to bitcoinwell.com/simply 
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600
00:32:56,920 --> 00:33:01,160
tuned until the end of the show 
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601
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602
00:33:05,960 --> 00:33:08,600
All right everybody, no more 
delay, let's start the show. 

603
00:33:08,720 --> 00:33:12,200
We have tons to talk about. 
Hit the smash button, we'll be 

604
00:33:12,240 --> 00:33:21,240
right back. 
I want to give a shout out to 

605
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616
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617
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618
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625
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630
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At the time of recording, the 
Bitcoin price is $108,600. 

631
00:35:00,360 --> 00:35:06,440
Block height 912,000 $729 or 29 
not dollars. 

632
00:35:06,920 --> 00:35:12,840
Sats per dollar 921 Sats per 
dollar Market cap 2.16 trillion 

633
00:35:14,680 --> 00:35:19,560
Bitcoin versus gold market cap 
8.76% decline from all time 

634
00:35:19,560 --> 00:35:20,680
high. 
If you're buying Bitcoin right 

635
00:35:20,680 --> 00:35:23,680
now, you're getting it at a 
almost 13% discount. 

636
00:35:23,960 --> 00:35:29,040
Realize monetary inflation 
sitting at .84%. 

637
00:35:29,240 --> 00:35:32,680
In the grand scheme of things, 
we are just getting the party 

638
00:35:32,680 --> 00:35:37,080
started anyways. 
The one the only the legendary 

639
00:35:37,080 --> 00:35:41,760
Jeff Booth went on Kik Go and 
he's talking about something 

640
00:35:41,760 --> 00:35:44,360
really interesting. 
When you really understand it 

641
00:35:44,760 --> 00:35:48,920
and you're constantly a buyer. 
There's never a price that's too

642
00:35:48,920 --> 00:35:51,480
high. 
I completely agree with that 

643
00:35:51,480 --> 00:35:54,560
statement, but I can't explain 
it like Jeff Booth explains it. 

644
00:35:54,840 --> 00:35:57,680
So let's let's check out the 
clip and then me and Opti will 

645
00:35:57,680 --> 00:36:03,120
talk about it any. 
Volatile any, any legitimacy to 

646
00:36:03,120 --> 00:36:06,520
those concerns on volatility 
when it comes to, hey, you know,

647
00:36:06,520 --> 00:36:08,040
we're looking at these stock 
charts every day. 

648
00:36:08,040 --> 00:36:09,720
I mean, sovereign funds aren't 
there to trade. 

649
00:36:10,320 --> 00:36:12,960
So if you're not there to trade,
then you should be in this. 

650
00:36:13,240 --> 00:36:16,160
If you're in the to trade, if 
you're trying to that, then you 

651
00:36:16,160 --> 00:36:18,560
shouldn't be in this. 
So if you're, if you're levering

652
00:36:18,560 --> 00:36:21,800
into to something that's 
changing the world, a new 

653
00:36:21,800 --> 00:36:24,880
structure for the world that 
can't be cheated, that is 

654
00:36:24,880 --> 00:36:29,400
repricing everything and you're 
trading that, then then you 

655
00:36:29,400 --> 00:36:32,840
could get wiped out because and 
that's just that's just an 

656
00:36:32,840 --> 00:36:36,080
early, that's an early evolution
of an understanding of this, 

657
00:36:36,640 --> 00:36:40,160
that fear and greed on both 
sides are trying to trade this 

658
00:36:40,160 --> 00:36:42,040
asset. 
But when you really understand 

659
00:36:42,040 --> 00:36:46,920
it, you're constantly a buyer. 
You there's never a price that's

660
00:36:46,920 --> 00:36:48,840
too high. 
I buy in a low. 

661
00:36:48,840 --> 00:36:51,600
I buy in the high that 
constantly like because I don't 

662
00:36:51,600 --> 00:36:54,920
think about the piece of paper 
that's being manipulated pricing

663
00:36:54,920 --> 00:36:57,160
the world. 
OK, so let's talk about what 

664
00:36:57,160 --> 00:37:00,160
Jeff Booth says, right? 
This is something that Michael 

665
00:37:00,160 --> 00:37:05,000
Saylor has said as well, right? 
What is it that you are buying? 

666
00:37:05,440 --> 00:37:13,680
It's a very important question 
because right now like any 

667
00:37:13,680 --> 00:37:19,000
disposable income I have that 
I'm not using to, you know, pay 

668
00:37:19,000 --> 00:37:24,800
for a living expenses that I 
have for me and my family, why 

669
00:37:24,800 --> 00:37:28,120
would I put that in? 
Why would I leave that in cash? 

670
00:37:28,840 --> 00:37:31,840
Like why? 
It makes no sense. 

671
00:37:32,320 --> 00:37:36,480
There's zero sense to it. 
If I know that cash is going to 

672
00:37:36,480 --> 00:37:41,800
buy me less goods next year, why
would I leave that cat? 

673
00:37:41,800 --> 00:37:43,960
Why would I leave that extra 
money in? 

674
00:37:43,960 --> 00:37:49,640
Cash makes no sense now, I don't
think, and I know this might be 

675
00:37:49,640 --> 00:37:54,280
unpopular with some bitcoiners, 
but right now we're still not in

676
00:37:54,280 --> 00:37:58,080
a world where you can live 
completely off your Bitcoin. 

677
00:37:58,760 --> 00:38:01,640
I think you still need Fiat. 
Like if you run, specifically if

678
00:38:01,640 --> 00:38:06,440
you run a business, not all 
landlords, not all mortgage 

679
00:38:06,440 --> 00:38:10,120
providers, not all your bills 
could be paid in Bitcoin. 

680
00:38:10,120 --> 00:38:12,680
Like I know that there's 
companies that facilitate that, 

681
00:38:12,840 --> 00:38:16,360
that make that easier, that make
that easy, but you can't do it 

682
00:38:16,360 --> 00:38:18,520
directly with your stack. 
It's not like at the end of the 

683
00:38:18,520 --> 00:38:20,800
month you go and you take your 
hardware wallet and you're like,

684
00:38:20,800 --> 00:38:23,280
OK, dot dot dot dot, let me just
pay off these bills. 

685
00:38:23,520 --> 00:38:26,960
There's a process that you need 
to go through in order to, you 

686
00:38:26,960 --> 00:38:28,760
know, to do that. 
And I know that there's Bitcoin 

687
00:38:28,760 --> 00:38:32,760
companies that that facilitate 
that and they're awesome and we 

688
00:38:32,760 --> 00:38:34,480
love here. 
We love them at simply Bitcoin. 

689
00:38:34,640 --> 00:38:38,680
But let's just say Fiat is still
somehow involved, right? 

690
00:38:39,200 --> 00:38:44,120
So if you have that, that pot of
Fiat that you're going to tap 

691
00:38:44,120 --> 00:38:46,720
into to live off of every month,
right? 

692
00:38:47,760 --> 00:38:50,600
What about that extra? 
So like, let's say you have, you

693
00:38:50,600 --> 00:38:52,920
know, 10 or 20%, you know, 
you're getting to the end of the

694
00:38:52,920 --> 00:38:55,480
month, you know that you have 
income coming in the next month 

695
00:38:55,760 --> 00:38:57,760
and you're like, what am I going
to do with this extra money that

696
00:38:57,760 --> 00:38:59,880
I have? 
Are you just going to leave it 

697
00:38:59,880 --> 00:39:02,680
in the account? 
Maybe you want to spend it, you 

698
00:39:02,680 --> 00:39:04,040
maybe you want to enjoy 
yourself. 

699
00:39:04,040 --> 00:39:06,000
Maybe you want to go out and 
have a nice dinner. 

700
00:39:06,000 --> 00:39:07,520
Maybe you want to go on 
vacation, whatever. 

701
00:39:07,800 --> 00:39:10,240
But let's say it's just a 
regular month and you're not 

702
00:39:10,240 --> 00:39:12,880
doing any of those things. 
Very what are you going to do? 

703
00:39:13,120 --> 00:39:14,320
Are you going to leave it in 
cash? 

704
00:39:14,880 --> 00:39:18,480
No, you're going to buy Bitcoin.
Now, Does it matter if Bitcoin 

705
00:39:18,480 --> 00:39:21,640
is at all time highs? 
No, you're going to, you're 

706
00:39:21,640 --> 00:39:25,680
going to buy Bitcoin because you
know that it doesn't matter 

707
00:39:25,680 --> 00:39:29,360
whether the price of Bitcoin is 
at 108,000 today. 

708
00:39:29,960 --> 00:39:36,360
There's a pretty reasonably high
probability that the purchasing 

709
00:39:36,360 --> 00:39:40,600
power of that said Bitcoin the 
next year is going to be higher 

710
00:39:40,720 --> 00:39:44,520
than it is this year. 
Then why in the hell would I 

711
00:39:44,520 --> 00:39:47,360
leave my money in Fiat? 
And that's what Jeff Booth is 

712
00:39:47,360 --> 00:39:49,960
talking about. 
And now one of the other pieces 

713
00:39:49,960 --> 00:39:55,400
of wisdom that I'll drop for you
guys is don't denominate your 

714
00:39:55,400 --> 00:40:01,360
wealth in dollars or EUR or 
whatever local currency you 

715
00:40:01,360 --> 00:40:04,600
have. 
Denominate your wealth in 

716
00:40:04,600 --> 00:40:07,280
Bitcoin. 
Your life will completely 

717
00:40:07,280 --> 00:40:10,920
change. 
It will completely change if you

718
00:40:10,920 --> 00:40:15,520
denominate your wealth in Fiat. 
It's like a you're on a you're 

719
00:40:15,520 --> 00:40:21,400
on a rat wheel like it it you're
that goal is going to $1,000,000

720
00:40:21,400 --> 00:40:25,560
today isn't what $1,000,000 was 
10 years ago, $1,000,000 today 

721
00:40:25,560 --> 00:40:28,520
isn't what $1,000,000 was 20 
years ago. 

722
00:40:28,520 --> 00:40:33,720
It's not the same. 
One Bitcoin today is not the 

723
00:40:33,720 --> 00:40:37,040
same that what what one Bitcoin 
was 10 years ago. 

724
00:40:37,160 --> 00:40:40,680
It's that it's the exact 
opposite of what Fiat goes 

725
00:40:40,680 --> 00:40:44,400
through. 
So Fiat buys you less, Bitcoin 

726
00:40:44,400 --> 00:40:48,680
buys you more, right? 
So with that logic, this is what

727
00:40:48,680 --> 00:40:54,360
Jeff Booth is talking about. 
Even at Bitcoin at $1,000,000 if

728
00:40:54,400 --> 00:41:01,040
I have extra income or $10 
million if I have extra income, 

729
00:41:01,360 --> 00:41:06,320
I'm not going to leave it in 
something that is devaluing over

730
00:41:06,320 --> 00:41:08,960
time. 
That makes absolutely no sense 

731
00:41:08,960 --> 00:41:12,440
for me. 
I'm going to put it in Bitcoin 

732
00:41:12,840 --> 00:41:16,720
or I'm going to put it in 
something that I think is going 

733
00:41:16,720 --> 00:41:21,440
to outperform Bitcoin, which is 
very, very few things. 

734
00:41:21,440 --> 00:41:25,280
I might add very few things. 
I'm going to repeat that. 

735
00:41:25,560 --> 00:41:30,120
Very few things are going to 
outperform Bitcoin. 

736
00:41:30,600 --> 00:41:36,240
Very few things, very few 
stocks, very few real estate 

737
00:41:36,240 --> 00:41:40,080
investments, very few things are
going to outperform Bitcoin. 

738
00:41:40,480 --> 00:41:43,680
So if you don't think you're 
going to outperform Bitcoin, 

739
00:41:43,960 --> 00:41:46,040
then why not just buy more 
Bitcoin? 

740
00:41:46,760 --> 00:41:48,840
That's what Jeff Booth is 
talking about. 

741
00:41:49,120 --> 00:41:52,520
If you have savings, if you have
some extra money on the side, 

742
00:41:52,760 --> 00:41:53,880
what are you going to do with 
it? 

743
00:41:53,880 --> 00:41:56,680
You're going to buy Bitcoin. 
That's what he meant. 

744
00:41:57,320 --> 00:41:59,560
So it doesn't matter where what 
the price is. 

745
00:41:59,560 --> 00:42:01,920
The price could be a $10 million
per coin. 

746
00:42:02,520 --> 00:42:04,720
You're still going to buy 
Bitcoin because you don't want 

747
00:42:04,720 --> 00:42:08,520
to hold on to Fiat because Fiat 
is devaluing that. 

748
00:42:08,520 --> 00:42:11,880
That's the simple truth. 
Now, are you going to get those 

749
00:42:11,960 --> 00:42:17,040
100X or 200X gains and, you 
know, in a short period of time?

750
00:42:17,040 --> 00:42:19,520
I mean, we, we, the whole 
beginning of the show, we were 

751
00:42:19,520 --> 00:42:22,000
just discussing about it. 
Me and Opti were throwing a pity

752
00:42:22,000 --> 00:42:23,880
party for ourselves, really 
thinking about it. 

753
00:42:23,880 --> 00:42:27,560
Like, Oh my God, bro, the 2017 
glory days are over. 

754
00:42:27,560 --> 00:42:29,600
It's done. 
It's, it's over. 

755
00:42:29,600 --> 00:42:32,480
Wrap it up, bro. 
You know, like now we're a 

756
00:42:32,480 --> 00:42:35,840
stonks channel, I guess. 
And like, just like we're going 

757
00:42:35,840 --> 00:42:39,080
to be happy with 2030% a year, 
OK, so be it. 

758
00:42:39,280 --> 00:42:48,040
But still a 20 to 30% year over 
year growth in Bitcoin terms is 

759
00:42:48,600 --> 00:42:51,880
effing gnarly. 
It's crazy. 

760
00:42:52,040 --> 00:42:55,480
It's crazy, right? 
So Opti, I want to take your, I 

761
00:42:55,480 --> 00:42:59,000
want to get your take on that, 
bro, because like, it's not 

762
00:42:59,000 --> 00:43:01,880
buying Bitcoin like I, I, I 
would say that's a wrong. 

763
00:43:01,880 --> 00:43:04,160
You're, you're, you're phrasing 
it wrong. 

764
00:43:04,160 --> 00:43:07,280
You're saying it wrong if you 
say it that way, because if you 

765
00:43:07,280 --> 00:43:10,440
say it that way, it almost as if
it sounds like, OK, I'm 

766
00:43:10,440 --> 00:43:12,200
investing it. 
No, you're not it. 

767
00:43:12,200 --> 00:43:15,360
It's like I'm thinking about it 
and like, look, if I have 

768
00:43:15,360 --> 00:43:18,640
disposable income, if I have 
savings that I know I'm not 

769
00:43:18,640 --> 00:43:22,680
going to spend, am I going to 
just leave it in my bank 

770
00:43:22,680 --> 00:43:25,240
account? 
Why would I do that? 

771
00:43:25,440 --> 00:43:27,920
That's stupid. 
No, I'm going to buy Bitcoin 

772
00:43:27,920 --> 00:43:31,880
with it, but it that like let 
me, I'm going to exchange my 

773
00:43:31,880 --> 00:43:36,320
dollars for Bitcoin because 
dollars are inferior to Bitcoin.

774
00:43:37,440 --> 00:43:39,520
That's how I would say it 
exactly. 

775
00:43:39,520 --> 00:43:42,040
Someone said in the chat 
exchange slash buy. 

776
00:43:42,280 --> 00:43:44,280
I wouldn't call it buy, you're 
not buying. 

777
00:43:44,280 --> 00:43:47,280
I would say exchange. 
Nico, this is exchange overbuy. 

778
00:43:48,160 --> 00:43:50,600
Yeah, exactly. 
So I would say the word is 

779
00:43:50,600 --> 00:43:57,040
exchange Bitcoin at 100 million 
in 50 years with 17% a year. 

780
00:43:57,720 --> 00:44:03,040
Nico in the chat. 
Dude, we're going to get bored 

781
00:44:03,040 --> 00:44:04,360
to. 
Death for a. 100 me and opti 

782
00:44:04,360 --> 00:44:07,360
you're going to be like 80 bro 
in like 50 years. 

783
00:44:09,280 --> 00:44:11,080
Bearish. 
Super bearish. 

784
00:44:11,560 --> 00:44:14,240
Anyways, Opti, what do you think
about what Jeff Booth the. 

785
00:44:14,240 --> 00:44:15,840
Jeff was. 
Dropping the fire. 

786
00:44:16,920 --> 00:44:22,200
I love this because I, this is, 
I think the like final frontier 

787
00:44:22,200 --> 00:44:26,200
of your Bitcoin journey is 
you're, you first get into 

788
00:44:26,200 --> 00:44:30,240
Bitcoin and you, you know, it's 
just, you have to use kind of 

789
00:44:30,240 --> 00:44:33,880
examples of things that you're 
familiar with to kind of wrap 

790
00:44:33,880 --> 00:44:35,640
your head around what is going 
on here. 

791
00:44:36,080 --> 00:44:38,480
And of course, all these 
examples really fall short. 

792
00:44:38,920 --> 00:44:41,640
But once you get to that point, 
like I always joke with friends 

793
00:44:41,640 --> 00:44:42,920
and they don't even know what 
I'm saying. 

794
00:44:42,920 --> 00:44:45,200
I'm like, yeah, if I have 
dollars, I just like capitulate 

795
00:44:45,200 --> 00:44:47,440
my dollars as fast as I can for 
Bitcoin. 

796
00:44:47,440 --> 00:44:49,840
It's like I I sell my dollars 
for. 

797
00:44:49,840 --> 00:44:52,200
Bitcoin and they're like. 
What are you even talking about?

798
00:44:52,200 --> 00:44:55,080
Like you need to, you need to, 
you know, stop smoking that. 

799
00:44:55,400 --> 00:44:57,280
I'm like, you speak in English 
to me. 

800
00:44:57,720 --> 00:44:59,720
But I think this is the final 
frontier. 

801
00:44:59,720 --> 00:45:02,600
And we get trolled in here all 
the time because we we say. 

802
00:45:03,360 --> 00:45:06,600
We, we always say like you know,
you said. 

803
00:45:07,400 --> 00:45:09,840
You measure your wealth in 
Bitcoin and then we literally 

804
00:45:09,840 --> 00:45:12,840
bring up the Bitcoin price on 
the show every single day and 

805
00:45:12,840 --> 00:45:14,800
it's like, guys, what? 
What else do we measure? 

806
00:45:14,800 --> 00:45:17,280
Our wealth with like this, we're
Americans. 

807
00:45:17,280 --> 00:45:19,040
This is how you measure your 
wealth. 

808
00:45:20,080 --> 00:45:23,560
You know, for the time being, 
this is this is what what we 

809
00:45:23,560 --> 00:45:26,080
we're dealing with. 
Yes, it's imperfect, an 

810
00:45:26,320 --> 00:45:29,880
imperfect metric here, but 
that's what everyone kind of 

811
00:45:29,880 --> 00:45:33,280
understands as what your wealth 
is, is basically pricing it in 

812
00:45:33,280 --> 00:45:36,480
dollars. 
Now, when you get to that final 

813
00:45:36,480 --> 00:45:39,880
frontier of like I always joke, 
we're playing Pac-Man, we're 

814
00:45:39,880 --> 00:45:43,160
playing Hungry Hippo here, it's 
not about dollars. 

815
00:45:43,160 --> 00:45:45,360
It's it's about trying to 
acquire as much Bitcoin as 

816
00:45:45,360 --> 00:45:46,840
possible. 
And yes, of course, you know, 

817
00:45:46,840 --> 00:45:49,480
we're still human, we're still 
flawed, and we. 

818
00:45:49,480 --> 00:45:52,720
Do like to? 
You know, basically measure 

819
00:45:52,720 --> 00:45:54,760
ourselves up to, compared to 
where we were. 

820
00:45:54,760 --> 00:45:57,280
And we used dollars to do that. 
Like that's what we used to 

821
00:45:57,280 --> 00:45:59,760
survive. 
And I, you know, I can, I can 

822
00:45:59,760 --> 00:46:02,880
throw down economic concepts, 
but that usually makes people's 

823
00:46:02,880 --> 00:46:05,600
eyes kind of glaze over. 
But it's really just Gresham's 

824
00:46:05,600 --> 00:46:08,760
law playing out in real time. 
It's like, I don't want this bad

825
00:46:08,760 --> 00:46:12,200
money, I want better money. 
And so therefore, if if I'm 

826
00:46:12,200 --> 00:46:14,720
holding on to bad money, what do
I want to do? 

827
00:46:14,720 --> 00:46:17,720
I want to get that bad money 
into good money as quickly as 

828
00:46:17,720 --> 00:46:20,000
possible. 
That's what we're doing here. 

829
00:46:20,000 --> 00:46:23,200
And so I've been saying for a 
long time that, yeah, you know, 

830
00:46:23,200 --> 00:46:25,720
when I'm talking to people, I 
might use just kind of, you 

831
00:46:25,720 --> 00:46:28,320
know, like normal nomenclature 
here, like I might just use 

832
00:46:28,320 --> 00:46:31,720
terms that people are used to. 
But when I think of this is like

833
00:46:31,720 --> 00:46:35,960
I am exchanging my dollars for 
Bitcoin the same way someone 

834
00:46:35,960 --> 00:46:38,280
might exchange their pesos for a
dollar. 

835
00:46:38,520 --> 00:46:42,520
Like to me, this is this is this
is how I think of it. 

836
00:46:42,840 --> 00:46:46,640
Because once you kind of get to 
the point of this isn't just an 

837
00:46:46,640 --> 00:46:49,920
investment, this isn't this 
isn't just something, you know, 

838
00:46:49,920 --> 00:46:52,920
I want to sell for more dollars.
Yes, I price some in dollars 

839
00:46:52,920 --> 00:46:56,240
right now, but I use Bitcoin as 
money. 

840
00:46:56,240 --> 00:46:59,280
I view it as the best money. 
And once you get to that point 

841
00:46:59,280 --> 00:47:02,320
that Bitcoin is the best money, 
you you're, you're basically 

842
00:47:02,320 --> 00:47:03,680
Jeff Booth. 
Here is like why? 

843
00:47:03,680 --> 00:47:05,360
Why would you? 
Why? 

844
00:47:05,360 --> 00:47:07,520
Why am I? 
Why would I trade this thing? 

845
00:47:07,520 --> 00:47:09,600
This is the best thing to be 
holding on to. 

846
00:47:09,600 --> 00:47:11,440
There's nothing else to be 
holding on to. 

847
00:47:11,840 --> 00:47:14,440
It's literally like you got to 
go back to being like a 10 year 

848
00:47:14,440 --> 00:47:16,360
old kid. 
It's like, remember when you 

849
00:47:16,360 --> 00:47:19,720
used to, you know, store gold 
coins or pennies and you know, 

850
00:47:20,120 --> 00:47:24,160
copper Indian Head coins under 
your, under your, your bed or in

851
00:47:24,160 --> 00:47:26,320
your Piggy Bank because you 
thought these were more 

852
00:47:26,320 --> 00:47:29,920
expensive or have more value 
than the other ones or you even 

853
00:47:29,920 --> 00:47:32,200
had a Piggy Bank. 
You're just trying to store your

854
00:47:32,200 --> 00:47:34,640
whatever money's coming in 
because it's better than 

855
00:47:34,960 --> 00:47:38,080
whatever bubble gum or whatever,
you know, you did as a kid. 

856
00:47:38,080 --> 00:47:39,560
And that's like the game being 
played. 

857
00:47:39,560 --> 00:47:43,480
It's like you want to hold on to
this Bitcoin thing, you don't 

858
00:47:43,480 --> 00:47:45,480
want to trade it. 
I think what we're seeing right 

859
00:47:45,480 --> 00:47:50,480
now is the the dying last breath
of people being able to actually

860
00:47:50,480 --> 00:47:53,480
trade this thing before it goes 
absolutely nuclear. 

861
00:47:53,840 --> 00:47:58,560
And so if you are like me and I 
loved Jeff boost saying that 

862
00:47:58,560 --> 00:48:01,800
because it reminded me of my 
early days in Bitcoin, you know,

863
00:48:01,800 --> 00:48:05,400
I, I did all of the, you know, I
lived all of the memes. 

864
00:48:05,680 --> 00:48:08,480
I literally I got in Bitcoin. 
You could literally throw a dart

865
00:48:08,480 --> 00:48:11,800
at any shit coin and it was 
going to go up in 2017. 

866
00:48:12,080 --> 00:48:14,360
And then the market gets pulled 
out from under you. 

867
00:48:14,560 --> 00:48:17,000
And the one saving grace I had 
was. 

868
00:48:17,000 --> 00:48:20,480
Hey, I should probably. 
Learn about this Bitcoin thing 

869
00:48:20,720 --> 00:48:23,120
and then once you understand 
this Bitcoin thing, there's like

870
00:48:23,120 --> 00:48:25,800
a there's like a maybe a time, a
delay here where you're like, 

871
00:48:25,800 --> 00:48:28,080
maybe I can trade this Bitcoin 
thing and I can get more 

872
00:48:28,080 --> 00:48:31,160
bitcoins. 
And then the bull run happens 

873
00:48:31,160 --> 00:48:34,360
and you're like, you get caught 
up in the euphoria and you're 

874
00:48:34,360 --> 00:48:37,560
just you're just an idiot. 
Or rather you are self aware 

875
00:48:37,560 --> 00:48:40,840
enough to be like, I can't out 
trade these algorithms here. 

876
00:48:40,840 --> 00:48:43,680
So what am I going to do? 
I'm just going to keep buying it

877
00:48:43,680 --> 00:48:46,080
no matter what, Like I'm just 
going to buy it. 

878
00:48:46,080 --> 00:48:47,960
I'm going to hold it, I'm going 
to store it. 

879
00:48:48,320 --> 00:48:51,480
And soon enough you're going to 
be like, yeah, it was a way 

880
00:48:51,480 --> 00:48:55,040
better decision than trying to 
top the, you know, time to top 

881
00:48:55,160 --> 00:48:56,800
or looking at, at freaking 
chart. 

882
00:48:56,880 --> 00:49:00,320
It's hard day and you have like 
4 computers so you can out trade

883
00:49:00,320 --> 00:49:02,680
the algorithms. 
I'm like, no, I don't want to do

884
00:49:02,680 --> 00:49:03,960
that. 
Like I don't, I don't want to 

885
00:49:03,960 --> 00:49:05,960
sit on the computer longer than 
I have to. 

886
00:49:06,280 --> 00:49:07,480
I just want to Bitcoin and 
chill. 

887
00:49:07,480 --> 00:49:10,600
I just want to, you know, live 
my life, store, store my value, 

888
00:49:10,600 --> 00:49:14,200
my excess profits in Bitcoin, go
enjoy my life. 

889
00:49:14,200 --> 00:49:18,560
And as long as I'm not selling 
all the coins that are under my 

890
00:49:18,560 --> 00:49:21,280
control, your life is better. 
It's like you don't need to 

891
00:49:21,280 --> 00:49:23,480
trade this thing. 
You're literally you're just 

892
00:49:23,480 --> 00:49:26,040
saving in the best money ever. 
It's just like you're storing 

893
00:49:26,040 --> 00:49:28,680
the best money. 
It's not that difficult. 

894
00:49:28,680 --> 00:49:30,680
I really don't get why it's that
difficult. 

895
00:49:30,680 --> 00:49:32,880
We, it's like someone said in 
chats, like, are we speaking 

896
00:49:32,880 --> 00:49:34,400
English? 
How does this not make sense to 

897
00:49:34,400 --> 00:49:36,200
anyone? 
And I think it's really all the 

898
00:49:36,200 --> 00:49:39,840
FUD that that's been, you know, 
thrown at Bitcoin that a lot of 

899
00:49:39,840 --> 00:49:42,520
people still think the best 
money, the real money is this 

900
00:49:42,520 --> 00:49:46,000
paper money that is, you know, 
thrust on us by government. 

901
00:49:46,000 --> 00:49:47,720
It's like, no, we have a better 
money. 

902
00:49:48,160 --> 00:49:50,560
It's just taking a long time for
people to wake up to the fact 

903
00:49:50,560 --> 00:49:54,480
that we have a better money. 
Absolutely. 

904
00:49:54,480 --> 00:49:56,120
I absolutely agree with you 
guys. 

905
00:49:56,120 --> 00:49:58,280
It's going to be a fantastic 
show. 

906
00:49:58,480 --> 00:50:02,360
We have some interesting news 
that you guys are probably going

907
00:50:02,360 --> 00:50:05,240
to want to hear about. 
So what happens to these 

908
00:50:05,240 --> 00:50:09,080
treasury companies when their 
stocks go down, but they want to

909
00:50:09,080 --> 00:50:12,360
continue to raise more Bitcoin? 
Well, it seems like Bloomberg 

910
00:50:12,400 --> 00:50:15,880
asked that article today about 
specifically about Metaplanet. 

911
00:50:15,880 --> 00:50:18,200
Metaplanet just recently 
announced that they have the 

912
00:50:18,200 --> 00:50:20,160
intention of buying 1000 more 
Bitcoin. 

913
00:50:20,160 --> 00:50:23,400
That would put them at 20,000 
Bitcoin, making them the 6th 

914
00:50:23,400 --> 00:50:28,360
largest Bitcoin treasury company
in the world, but their stock 

915
00:50:28,520 --> 00:50:31,360
has dropped dramatically. 
So how are they doing this? 

916
00:50:31,360 --> 00:50:33,720
We're going to have an update 
for you guys during the new 

917
00:50:33,720 --> 00:50:35,560
segment. 
We're going to be right back in 

918
00:50:35,560 --> 00:50:38,320
just. 
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919
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920
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921
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958
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So let's talk about this. 
The headline for the audio 

959
00:53:11,400 --> 00:53:16,920
listeners is Bitcoin proxies. 
Chief seeks funding fix as 

960
00:53:16,920 --> 00:53:20,400
flywheel falters. 
What does that mean? 

961
00:53:21,000 --> 00:53:25,080
So the article goes into a bunch
of details, but here's kind of 

962
00:53:25,080 --> 00:53:29,400
like the key analysis of this 
and why what's going on? 

963
00:53:29,640 --> 00:53:33,280
But essentially it's it's pretty
simple and I'll walk you guys 

964
00:53:33,280 --> 00:53:35,440
through it. 
Metaplanet is essentially trying

965
00:53:35,440 --> 00:53:38,520
to copy Michael Saylor's 
playbook in Japan, turn a 

966
00:53:38,520 --> 00:53:42,760
regular company into a Bitcoin 
accumulation vehicle. 

967
00:53:43,680 --> 00:53:47,080
Under their CEO. 
They've already piled up 19,000 

968
00:53:47,080 --> 00:53:50,800
Bitcoin, and they're planning to
buy 20,000 Bitcoin, but the 

969
00:53:50,800 --> 00:53:55,320
strategy depends on keeping 
their stock price high relative 

970
00:53:55,320 --> 00:53:59,000
to their Bitcoin holdings, the 
so-called Bitcoin Premium. 

971
00:53:59,600 --> 00:54:03,760
That premium allows them to 
issue equity at favorable terms,

972
00:54:04,000 --> 00:54:08,000
recycle the proceeds into 
Bitcoin, and repeat, AKA the 

973
00:54:08,000 --> 00:54:10,960
flywheel. 
The problem is their stock has 

974
00:54:10,960 --> 00:54:15,440
dropped over 50% since June, 
while Bitcoin itself has written

975
00:54:15,840 --> 00:54:18,400
risen. 
That collapse in premium has 

976
00:54:18,400 --> 00:54:23,160
weakened the financial loop with
EVO Fund because warrants aren't

977
00:54:23,160 --> 00:54:26,080
as attractive to exercise when 
the stock is falling. 

978
00:54:26,320 --> 00:54:29,600
Without fresh equity capital, 
their ability to keep buying 

979
00:54:29,600 --> 00:54:33,440
Bitcoin stalls. 
That's why their CEO is racing 

980
00:54:33,440 --> 00:54:37,920
to pivot to preferred shares, a 
more defense funding mechanism 

981
00:54:37,920 --> 00:54:42,040
that can raise billions without 
diluting common shareholders as 

982
00:54:42,040 --> 00:54:44,160
heavily. 
They're trying to secure 

983
00:54:44,160 --> 00:54:49,520
authorization for up to 555 
billion or 3.8 billion in 

984
00:54:49,520 --> 00:54:52,920
prefers, which by the way, 
breaking news, they got that 

985
00:54:52,920 --> 00:54:57,480
approval that just broke. 
I saw it on the simply Bitcoin X

986
00:54:57,480 --> 00:54:59,200
account, which you should 
definitely follow one of the 

987
00:54:59,200 --> 00:55:02,600
best Bitcoin news AGS in the 
business, which could give them 

988
00:55:02,600 --> 00:55:06,520
the ammo to quadruple their 
Bitcoin stash by the end of the 

989
00:55:06,520 --> 00:55:09,720
year. 
The importance here is twofold 

990
00:55:09,800 --> 00:55:13,720
First, it shows the global 
spread of the quote Bitcoin 

991
00:55:13,720 --> 00:55:18,040
treasury model public companies 
transforming into vehicles to 

992
00:55:18,040 --> 00:55:22,520
front run central banks and 
institutions in hoarding BTC. 

993
00:55:22,720 --> 00:55:28,040
There are now over 100, 170 
entities with $111 billion worth

994
00:55:28,040 --> 00:55:31,120
of Bitcoin, and Metaplanet is in
the top ten. 

995
00:55:31,280 --> 00:55:34,760
Second, it reveals the fragility
of these strategies. 

996
00:55:35,000 --> 00:55:39,800
They depend on investor faith in
the stocks, Bitcoin premium, If 

997
00:55:39,800 --> 00:55:43,800
that erodes, the flywheel seizes
up for bitcoiners. 

998
00:55:43,800 --> 00:55:47,000
It's significant because 
Metaplanet is trying to push the

999
00:55:47,000 --> 00:55:50,240
model into Japan, a 
traditionally conservative 

1000
00:55:50,240 --> 00:55:54,080
financial market, and they're 
bringing in Trump World figures 

1001
00:55:54,400 --> 00:55:59,120
like Eric Trump to align it with
the broader pro Bitcoin policy 

1002
00:55:59,120 --> 00:56:01,240
shift under the new 
administration. 

1003
00:56:01,760 --> 00:56:05,800
In short, Meta Planet story 
underscores both the momentum 

1004
00:56:05,800 --> 00:56:09,840
and the risks of Bitcoin 
corporate adoption if they 

1005
00:56:09,840 --> 00:56:13,040
succeed in raising billions 
through preferred shares again, 

1006
00:56:13,040 --> 00:56:14,800
this has been officially 
approved. 

1007
00:56:15,080 --> 00:56:18,960
It could cement Japan as a major
front in the Bitcoin 

1008
00:56:18,960 --> 00:56:22,320
accumulation race. 
If they fail, it highlights that

1009
00:56:22,320 --> 00:56:26,480
another that only companies with
strong equity momentum like 

1010
00:56:26,480 --> 00:56:30,400
sailor strategy can truly 
sustain the game at scale. 

1011
00:56:30,400 --> 00:56:33,880
Now, what I will say is this, 
and I've been saying this for a 

1012
00:56:33,880 --> 00:56:39,840
couple months now, do I think 
Metaplanet Nakamoto 21 or 

1013
00:56:39,840 --> 00:56:46,320
strategy or any of the big 
players are in trouble And we 

1014
00:56:46,320 --> 00:56:49,040
were, we asked this question. 
In fact, I think it's still live

1015
00:56:49,040 --> 00:56:52,520
in the chat. 
We asked you guys, almost 700 

1016
00:56:52,520 --> 00:56:56,320
people have voted in this poll. 
We said is winter coming? 

1017
00:56:56,320 --> 00:56:59,280
Meaning are there going to be 
any more bear markets? 

1018
00:56:59,440 --> 00:57:04,160
72% Opti the the vast majority, 
that's not a good sign. 

1019
00:57:04,440 --> 00:57:09,480
The vast majority of people have
said that there will be no bear 

1020
00:57:09,480 --> 00:57:12,560
markets anymore, right? 
Bear market confirmed. 

1021
00:57:13,600 --> 00:57:17,960
Yeah, I know, right. 
So 72% have, have basically. 

1022
00:57:18,080 --> 00:57:21,840
So almost 700 people have voted 
that there will be no bear 

1023
00:57:21,840 --> 00:57:25,120
markets anymore. 
But here's the thing. 

1024
00:57:25,440 --> 00:57:30,120
Like I, I, I, I vividly remember
this, I don't know if you guys 

1025
00:57:30,120 --> 00:57:34,600
were around for this, but 
strategy Sailor first announced 

1026
00:57:34,600 --> 00:57:39,960
the Bitcoin strategy in the last
bull market heading into 2021. 

1027
00:57:40,040 --> 00:57:44,920
And then he had to endure the 
bear market of 2022. 

1028
00:57:45,480 --> 00:57:49,640
And boy, that was brutal. 
Like Sailor was down billions of

1029
00:57:49,640 --> 00:57:53,520
dollars in his investment now 
because he huddled and he was 

1030
00:57:53,520 --> 00:57:57,000
actually able to buy more than 
his stock recovered. 

1031
00:57:57,040 --> 00:57:59,560
And the guy looked like a 
genius, like we all look like a 

1032
00:57:59,560 --> 00:58:02,080
genius when we do that. 
By the way, it's called paying 

1033
00:58:02,080 --> 00:58:04,480
your price of tuition. 
It's something extremely 

1034
00:58:04,480 --> 00:58:07,000
familiar here in Bitcoin 
circles. 

1035
00:58:07,480 --> 00:58:14,040
So yes, I mean, to kind of 
summarize the point, Opti, what 

1036
00:58:14,040 --> 00:58:17,760
happens, bro? 
What happens when we do get a 

1037
00:58:17,760 --> 00:58:19,680
downturn? 
Because thinking that we're not 

1038
00:58:19,680 --> 00:58:21,840
going to get a downturn is 
ridiculous. 

1039
00:58:21,840 --> 00:58:24,400
Now, are we going to get 80% 
downturns? 

1040
00:58:24,720 --> 00:58:27,160
Maybe. 
You never know in Bitcoin, 

1041
00:58:27,200 --> 00:58:29,040
right? 
But maybe those days are over. 

1042
00:58:29,040 --> 00:58:31,040
Remember you say, Nico, those 
days are over. 

1043
00:58:31,040 --> 00:58:33,640
Now that Black Rock's here, 
institutions are here, 

1044
00:58:33,640 --> 00:58:37,360
governments are buying Bitcoin, 
The days of 80% drawdowns are 

1045
00:58:37,360 --> 00:58:39,800
long gone. 
They don't exist anymore. 

1046
00:58:39,880 --> 00:58:45,400
OK, but what if they come back? 
How are those companies going to

1047
00:58:45,400 --> 00:58:49,560
raise money to buy Bitcoin? 
And I think that's the question,

1048
00:58:50,480 --> 00:58:54,800
because I remember Sailor 
changed some of the parameters 

1049
00:58:55,520 --> 00:59:00,440
regarding his stock because of 
the downturn, because of the 

1050
00:59:00,600 --> 00:59:04,120
like again, if you take a look 
at some of these treasury 

1051
00:59:04,120 --> 00:59:07,000
companies, they're not 
completely correlated with the 

1052
00:59:07,000 --> 00:59:10,200
price of Bitcoin. 
So and then this goes back to 

1053
00:59:10,200 --> 00:59:12,520
something that I was saying 
during the news, during the 

1054
00:59:12,520 --> 00:59:17,520
numbers segment. 
If you denominate your wealth in

1055
00:59:17,520 --> 00:59:22,800
Bitcoin, other investments don't
make sense, right? 

1056
00:59:22,800 --> 00:59:26,400
Like, why would I buy Apple 
stock if I can buy Bitcoin? 

1057
00:59:26,400 --> 00:59:29,000
And Bitcoin's going to 
outperform Apple stock? 

1058
00:59:30,000 --> 00:59:31,920
Oh, and not only that, I could 
take self custody of that 

1059
00:59:31,920 --> 00:59:33,960
Bitcoin, why would I buy Apple 
stock? 

1060
00:59:33,960 --> 00:59:38,800
Makes no sense, right? 
So again, the only reason. 

1061
00:59:38,960 --> 00:59:41,200
As to why you're? 
Buying one of these treasury 

1062
00:59:41,200 --> 00:59:44,920
companies is because you believe
it's going to outperform 

1063
00:59:44,920 --> 00:59:47,880
Bitcoin. 
If it doesn't outperform 

1064
00:59:47,880 --> 00:59:51,000
Bitcoin, there is no reason as 
to why you should buy a treasury

1065
00:59:51,000 --> 00:59:53,240
company. 
They're like, you're literally 

1066
00:59:53,240 --> 00:59:55,440
setting money, you're setting 
Bitcoin on fire. 

1067
00:59:56,360 --> 00:59:59,120
So the only reason you should be
buying a treasury company is 

1068
00:59:59,120 --> 01:00:01,560
because you think it's going to 
outperform Bitcoin. 

1069
01:00:01,640 --> 01:00:06,000
That's the only reason, right? 
So but what happens when they 

1070
01:00:06,000 --> 01:00:10,760
start underperforming Bitcoin? 
What happens to their ability to

1071
01:00:10,760 --> 01:00:14,120
raise more money to buy Bitcoin?
Because that's the value 

1072
01:00:14,120 --> 01:00:16,680
proposition. 
The value proposition is that a 

1073
01:00:16,680 --> 01:00:20,200
lot of these treasury companies 
have access to the capital 

1074
01:00:20,200 --> 01:00:25,880
markets, and they're able to 
access cheap debt in order to 

1075
01:00:25,880 --> 01:00:29,360
buy more Bitcoin and increase 
the amount of Bitcoin per share.

1076
01:00:30,440 --> 01:00:34,440
But what happens, to use the 
Bloomberg article's own words, 

1077
01:00:34,440 --> 01:00:36,880
when that flywheel starts to 
slow down? 

1078
01:00:37,680 --> 01:00:41,080
It's going to affect the smaller
Bitcoin treasury companies 1st, 

1079
01:00:41,720 --> 01:00:44,720
and then it's going to affect 
the larger ones. 

1080
01:00:45,000 --> 01:00:50,360
Now, again, I think Sailor has 
positioned himself at such it it

1081
01:00:50,360 --> 01:00:55,400
at such a powerful and like 
position that I don't think I 

1082
01:00:55,400 --> 01:00:58,520
think MicroStrategy is going to 
be the biggest bank in the world

1083
01:00:58,840 --> 01:01:01,160
in the next decade. 
Like, I think it's, I think 

1084
01:01:01,160 --> 01:01:03,720
Sailor like reasonably has a 
shot of being one of the 

1085
01:01:03,720 --> 01:01:07,320
wealthiest people in the world 
in the next 10 to 20 years 

1086
01:01:07,880 --> 01:01:12,440
because again, he positioned 
himself so well with such a big 

1087
01:01:12,440 --> 01:01:15,800
head start. 
But what about #10 on that list?

1088
01:01:16,240 --> 01:01:19,400
What about #15 on that list, 
right? 

1089
01:01:19,840 --> 01:01:25,040
Like, why would you buy #15 if 
you can buy #1 and you know, 

1090
01:01:25,040 --> 01:01:26,440
number one's already going to 
win. 

1091
01:01:26,600 --> 01:01:30,800
Well, you're going to buy 15 
because you think that 15 is out

1092
01:01:30,880 --> 01:01:33,880
is going to outperform #1 
because it's market cap is that 

1093
01:01:33,880 --> 01:01:37,360
much smaller and it has that 
much more room to grow. 

1094
01:01:37,840 --> 01:01:42,480
But what if #15 isn't able to 
raise money anymore because it's

1095
01:01:42,480 --> 01:01:46,480
stock isn't going up? 
And now all of a sudden, the 

1096
01:01:46,480 --> 01:01:51,680
amount, the, the actual value, 
the the market cap of that 

1097
01:01:51,680 --> 01:01:55,040
company of that share is 
actually lower than the amount 

1098
01:01:55,040 --> 01:01:59,040
of Bitcoin that they hold. 
So then why didn't you just buy 

1099
01:01:59,040 --> 01:02:01,480
Bitcoin instead? 
You would have outperformed that

1100
01:02:01,480 --> 01:02:04,640
company and you could have still
had self custody, right? 

1101
01:02:04,880 --> 01:02:07,800
Doesn't make sense, does it? 
Anyways, I'm done. 

1102
01:02:07,840 --> 01:02:10,480
That's my tangent. 
Opti, I want to get your take on

1103
01:02:10,480 --> 01:02:15,800
this because we've had to become
these like treasury company semi

1104
01:02:15,800 --> 01:02:18,520
experts very quick. 
I know you're the macro expert 

1105
01:02:18,520 --> 01:02:22,600
in the house Opti very quick. 
I'm not a Bitcoin treasury, I'm 

1106
01:02:22,600 --> 01:02:26,800
not a Bitcoin treasury expert, 
though I still maybe maybe it's 

1107
01:02:26,800 --> 01:02:31,360
like what you said, maybe it's 
just like the ideological divide

1108
01:02:31,360 --> 01:02:35,480
here that made me not fully 
understand what these treasury 

1109
01:02:35,480 --> 01:02:37,320
companies are. 
But but Nico seen me. 

1110
01:02:37,320 --> 01:02:39,920
I've been listening to, you 
know, sailors shareholder 

1111
01:02:39,920 --> 01:02:42,320
meetings, trying to understand 
what these new products are 

1112
01:02:42,320 --> 01:02:44,760
doing. 
And the one big take away, at 

1113
01:02:44,760 --> 01:02:48,240
least from sailors perspective, 
is a lot of these products are 

1114
01:02:48,560 --> 01:02:52,080
kind of tapped and created for 
certain capital specific 

1115
01:02:52,080 --> 01:02:54,200
markets. 
And so he's tapping into these 

1116
01:02:54,200 --> 01:02:57,640
markets that otherwise wouldn't 
be able to get into Bitcoin. 

1117
01:02:57,640 --> 01:03:00,440
But that's kind of a totally 
different conversation than just

1118
01:03:00,800 --> 01:03:02,800
the idea of the Bitcoin treasury
companies. 

1119
01:03:02,800 --> 01:03:07,840
And so like what Nico is saying,
just kind of breaking it down in

1120
01:03:07,840 --> 01:03:12,320
in simple terms is like by 
definition, what these treasury 

1121
01:03:12,320 --> 01:03:16,280
companies are doing is as 
investor, you know, capital 

1122
01:03:16,280 --> 01:03:20,920
allocators is they are taking on
more risk to achieve a higher 

1123
01:03:20,920 --> 01:03:22,640
return. 
That's by definition, that's 

1124
01:03:22,640 --> 01:03:25,000
what investing is. 
And so that's why they get 

1125
01:03:25,000 --> 01:03:29,080
these, you know, maybe outsize 
returns here is because, and 

1126
01:03:29,080 --> 01:03:32,160
maybe Sailor could be argued 
that is, is a little different 

1127
01:03:32,160 --> 01:03:35,000
because I'm sure from his 
perspective, it's not so much a 

1128
01:03:35,040 --> 01:03:36,840
risk per SE. 
He's just like, look, I'm 

1129
01:03:36,840 --> 01:03:39,680
creating these products and I'm 
tapping into these markets so 

1130
01:03:39,680 --> 01:03:43,000
that very few products or 
Bitcoin products can actually 

1131
01:03:43,000 --> 01:03:45,560
get into. 
And he's done the due diligence 

1132
01:03:45,560 --> 01:03:47,960
for all of this. 
But by definition, as an 

1133
01:03:47,960 --> 01:03:50,840
investor, you do take risk. 
And a lot of these Bitcoin 

1134
01:03:50,840 --> 01:03:54,360
treasury companies, like Nico's 
been saying for weeks now, maybe

1135
01:03:54,360 --> 01:03:58,120
not 1-2 or three, maybe not the 
top 3 here, which would be what 

1136
01:03:58,120 --> 01:04:02,160
Sailor Metaplanet or strategy 
metaplanet and maybe like 

1137
01:04:02,160 --> 01:04:06,640
Nakamoto or 21 capital, like 
those top four probably are the 

1138
01:04:06,640 --> 01:04:09,760
ones that will be able to 
withstand any storm here. 

1139
01:04:10,080 --> 01:04:13,360
But by definition, as you go 
farther down the list, they 

1140
01:04:13,360 --> 01:04:15,160
these companies are going to 
have to take more and more 

1141
01:04:15,160 --> 01:04:18,320
risks. 
And personally, as someone that 

1142
01:04:18,320 --> 01:04:21,320
doesn't have, you know, money 
wrapped up in, in the 

1143
01:04:21,320 --> 01:04:23,880
traditional capital markets of, 
well, you know, had no money 

1144
01:04:23,880 --> 01:04:26,600
when I started this, still have 
no money considering we're 

1145
01:04:26,600 --> 01:04:31,360
brokies. 
I, I don't, I don't think the 

1146
01:04:31,360 --> 01:04:35,320
risk is justified here. 
And yes, the gains and the 

1147
01:04:35,320 --> 01:04:39,360
returns are an incentive and, 
and, you know, you have to kind 

1148
01:04:39,360 --> 01:04:42,400
of fight your own personal greed
here, but you never know. 

1149
01:04:42,400 --> 01:04:44,320
Some of these could, you know, 
blow up. 

1150
01:04:44,320 --> 01:04:46,880
And personally, I think it's 
just a lot safer. 

1151
01:04:46,880 --> 01:04:48,680
It's like what we were saying in
the beginning of the show, like 

1152
01:04:48,680 --> 01:04:50,320
to me, this is the best money in
the world. 

1153
01:04:51,040 --> 01:04:53,280
I want to hold on to the best 
money in the world for as long 

1154
01:04:53,280 --> 01:04:55,760
as humanly possible, personally 
hold on to this money. 

1155
01:04:55,760 --> 01:04:58,480
So I'm not going to give, you 
know, an investor this money 

1156
01:04:58,480 --> 01:05:03,720
when Bitcoin is being adopted 
and Bitcoin is in the process of

1157
01:05:03,720 --> 01:05:05,960
being monetized. 
Maybe when, you know, we're 80 

1158
01:05:05,960 --> 01:05:07,840
years old, like they're saying 
in the chat, you know, when 

1159
01:05:07,840 --> 01:05:11,160
we're 80 years old and bitcoins,
whatever, hundreds of millions 

1160
01:05:11,160 --> 01:05:15,200
of dollars per coin, then maybe 
that's when we'll and we don't 

1161
01:05:15,200 --> 01:05:17,920
get these crazy returns because 
there's been a lot of adopters 

1162
01:05:17,920 --> 01:05:19,480
of Bitcoin and it's like, you 
know. 

1163
01:05:19,880 --> 01:05:22,360
As ubiquitous as. 
The Internet is and everyone's 

1164
01:05:22,360 --> 01:05:25,000
using it, and we're no longer 
simply Bitcoin because no one 

1165
01:05:25,000 --> 01:05:27,280
really cares about Bitcoin like 
they used to. 

1166
01:05:27,280 --> 01:05:28,800
And it's like saying simply 
Internet. 

1167
01:05:29,080 --> 01:05:32,000
Maybe that's the time in our 
lifetime when we're like, yeah, 

1168
01:05:32,000 --> 01:05:36,080
you know, we're going to 
allocate our capital for returns

1169
01:05:36,080 --> 01:05:39,000
in various different investments
that we think are going to 

1170
01:05:39,040 --> 01:05:42,440
either improve the world or, you
know, give me an outsize return.

1171
01:05:42,760 --> 01:05:45,920
But in the moment, personally, 
the risk that I see in all this 

1172
01:05:45,920 --> 01:05:49,000
stuff and hey, look, shouts out 
to all my friends out there that

1173
01:05:49,000 --> 01:05:53,160
that did understand this and got
filthy rich off of this. 

1174
01:05:53,720 --> 01:05:56,680
I just know myself well enough. 
I'm like look, I don't 

1175
01:05:56,680 --> 01:05:58,760
understand what this I'm. 
Literally the like. 

1176
01:05:58,920 --> 01:06:00,800
If you don't understand it, 
don't invest money in it. 

1177
01:06:00,800 --> 01:06:03,160
I'm like, I didn't, I didn't 
understand what they were doing 

1178
01:06:03,160 --> 01:06:06,120
for a while and now I I. 
Literally feel like. 

1179
01:06:06,120 --> 01:06:09,080
A normie when it comes to the 
Bitcoin treasury companies in 

1180
01:06:09,080 --> 01:06:12,080
the sense is like I missed the 
boat and everyone's like dude, 

1181
01:06:12,320 --> 01:06:14,720
strategy is going to I don't 
even know what the numbers are 

1182
01:06:14,720 --> 01:06:17,560
$10,000 per share or something 
like that, you know like 

1183
01:06:17,560 --> 01:06:20,560
something crazy. 
And and I look at some of my 

1184
01:06:20,560 --> 01:06:23,360
friends when they say that the 
same way my normie friends look 

1185
01:06:23,360 --> 01:06:25,800
at me when I talk about Bitcoin.
I'm like, Nah, dude, I missed 

1186
01:06:25,800 --> 01:06:29,560
the boat like I'm going to just 
sit in my Bitcoin yeah, you're 

1187
01:06:29,560 --> 01:06:32,880
going to get stupid rich but I 
just I don't know I don't know 

1188
01:06:32,880 --> 01:06:35,480
what's going on with these 
things I I'm not going to take 

1189
01:06:35,480 --> 01:06:38,640
that risk here like the last 
thing you want to be doing right

1190
01:06:38,640 --> 01:06:43,520
now as Bitcoin becomes monetized
is taking excess risk to your 

1191
01:06:43,520 --> 01:06:45,160
holdings. 
That's like, the worst thing you

1192
01:06:45,280 --> 01:06:47,720
can be doing. 
Yeah, maybe if you want to, you 

1193
01:06:47,720 --> 01:06:50,600
know, shave off a little bit and
you, you know, mess around in 

1194
01:06:50,600 --> 01:06:54,640
the casinos or take a little bit
and be like, yeah, OK, hey, you 

1195
01:06:54,640 --> 01:06:57,960
know, this little bit of my 
stack isn't going to really 

1196
01:06:57,960 --> 01:07:01,040
affect my life either way. 
If I can get a good return on 

1197
01:07:01,040 --> 01:07:04,040
it, so be it. 
But I mean, we were talking this

1198
01:07:04,040 --> 01:07:07,320
morning, Nico, and I'm not going
to dox our boy here, but he was 

1199
01:07:07,320 --> 01:07:09,760
trolling about like, dude, 
should I sell my whole stack for

1200
01:07:09,760 --> 01:07:12,960
some metaplanet right now? 
We're like, no dude, do not. 

1201
01:07:12,960 --> 01:07:16,160
Do that at all that that is the.
Dumbest thing you can be doing 

1202
01:07:16,160 --> 01:07:19,240
right now and it all goes back 
to the same idea. 

1203
01:07:19,320 --> 01:07:22,320
Like if we are in this S curve 
adoption. 

1204
01:07:22,920 --> 01:07:28,600
If we are on, you know, the tip 
of a tsunami, A monumental wave 

1205
01:07:28,600 --> 01:07:32,400
coming into Bitcoin, the last 
thing you should be doing is 

1206
01:07:32,400 --> 01:07:35,080
adding more risk into your 
portfolio. 

1207
01:07:35,240 --> 01:07:38,760
Bitcoin, as as the average 
person looks at, is already 

1208
01:07:38,760 --> 01:07:41,720
risky enough. 
If you don't understand what 

1209
01:07:41,720 --> 01:07:44,440
these Bitcoin treasury companies
are doing, if you can't read the

1210
01:07:44,440 --> 01:07:47,840
prospectus and understand 
exactly what they're doing, you 

1211
01:07:47,840 --> 01:07:49,520
probably shouldn't be giving 
them your money. 

1212
01:07:49,520 --> 01:07:54,600
Yes, I have friends that, you 
know, do the like MSTYMSTU plays

1213
01:07:54,600 --> 01:07:56,040
and like man, it's passive 
income, bro. 

1214
01:07:56,040 --> 01:07:58,840
I don't have to ever sell my I'm
like, man, that sounds really 

1215
01:07:58,840 --> 01:08:00,600
nice. 
I just don't understand what the

1216
01:08:00,600 --> 01:08:02,440
hell it's doing. 
So I'm not going to throw my 

1217
01:08:02,440 --> 01:08:04,320
coins at it. 
You know, I'm not going to throw

1218
01:08:04,320 --> 01:08:07,320
my, my, what's it, 10 million 
stats, my generational wealth. 

1219
01:08:07,320 --> 01:08:09,560
At it, because I don't get what 
they're doing here. 

1220
01:08:09,960 --> 01:08:14,680
But for better or worse, we will
see probably a Bitcoin treasury 

1221
01:08:14,680 --> 01:08:16,640
company, whether it's the big 
ones or not, blow up. 

1222
01:08:17,720 --> 01:08:20,120
I think it's a totally different
conversation, but I think it's 

1223
01:08:20,120 --> 01:08:22,720
going to happen now. 
I don't think it's gonna be 

1224
01:08:22,720 --> 01:08:24,960
sailor. 
I think sailor is probably, you 

1225
01:08:24,960 --> 01:08:28,279
know, the smartest one doing it.
Or do I think it's metaplan it 

1226
01:08:28,279 --> 01:08:32,040
like these are for different 
markets as as one of my favorite

1227
01:08:32,040 --> 01:08:35,279
theories is here is, you know, 
the reason Satoshi Nakamoto 

1228
01:08:35,279 --> 01:08:38,359
picked the the pseudonym Satoshi
Nakamoto is because he was 

1229
01:08:38,359 --> 01:08:41,399
saying like, look at the 
Japanese markets right now. 

1230
01:08:41,560 --> 01:08:44,160
America will become Japan if 
they don't get their shit 

1231
01:08:44,160 --> 01:08:46,080
together. 
And look what's going on in 

1232
01:08:46,080 --> 01:08:48,680
Japan right now. 
They're they're not in a good 

1233
01:08:48,680 --> 01:08:51,600
place. 
And so if you think we are on 

1234
01:08:51,600 --> 01:08:54,240
the precipice, uh oh, am I 
falling off? 

1235
01:08:55,080 --> 01:08:57,359
No, you're here. 
No, it said my. 

1236
01:08:57,439 --> 01:09:00,840
I said I lost my connection. 
If you think we are on the 

1237
01:09:00,840 --> 01:09:05,200
precipice of of something huge 
and monumental of a phase shift 

1238
01:09:05,200 --> 01:09:10,319
in money right now, then taking,
you know, risk on that right now

1239
01:09:10,359 --> 01:09:14,359
just the returns do not they the
ROI on this just doesn't make 

1240
01:09:14,359 --> 01:09:16,720
sense to me. 
Like it the, you know, yeah, 

1241
01:09:16,800 --> 01:09:19,960
maybe you could double, triple, 
quadruple 10 times your stack if

1242
01:09:19,960 --> 01:09:22,160
you knew sailors strategy was 
going to work. 

1243
01:09:22,920 --> 01:09:24,920
But there was also the chance 
back then that you could lose 

1244
01:09:24,920 --> 01:09:28,120
your whole stack. 
And right now is not the time to

1245
01:09:28,160 --> 01:09:30,880
to be taking these risks. 
I think it's just like, hey, 

1246
01:09:31,000 --> 01:09:34,720
Bitcoin and chill. 
Bitcoin and chill. 

1247
01:09:34,720 --> 01:09:37,439
I absolutely love that. 
I think it's very fitting to 

1248
01:09:37,439 --> 01:09:40,040
enter the culture segment with 
that guys. 

1249
01:09:40,040 --> 01:09:42,720
We're going to be right back. 
Opti's got something loaded up 

1250
01:09:42,720 --> 01:09:44,920
for you guys and then of course,
we're going to give it. 

1251
01:09:44,920 --> 01:09:48,479
We're going to be giving away 
some sats through Bitcoin well, 

1252
01:09:48,479 --> 01:09:49,920
so you guys are going to want to
stay tuned. 

1253
01:09:50,040 --> 01:09:52,200
Smash that like button. 
If you guys are enjoying the 

1254
01:09:52,200 --> 01:09:54,920
show, we're going to be right 
back in just a bit. 

1255
01:09:56,680 --> 01:09:59,600
I want to give a shout out to 
our partner Hive Digital 

1256
01:09:59,600 --> 01:10:02,200
Technology. 
Why Hive in 2025? 

1257
01:10:02,440 --> 01:10:06,480
Unstoppable growth as the first 
ever public miner. 

1258
01:10:06,640 --> 01:10:10,560
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their global footprint, making 

1259
01:10:10,560 --> 01:10:12,040
them one of the world's. 
Fastest. 

1260
01:10:12,040 --> 01:10:16,360
Growing miners in 2025 and with 
elite operations that 

1261
01:10:16,360 --> 01:10:20,000
consistently topped the industry
in Bitcoin mine, per Exahash 

1262
01:10:20,200 --> 01:10:22,400
hives, now headquartered in the 
USA. 

1263
01:10:22,720 --> 01:10:25,760
They're lean and mean. 
They're green and clean, and 

1264
01:10:25,760 --> 01:10:29,360
they're rewriting the playbook 
on sustainable Bitcoin mining. 

1265
01:10:29,600 --> 01:10:32,520
You can catch the latest buzz. 
At Hive Digital. 

1266
01:10:32,520 --> 01:10:34,600
Tech or at Hive? 
Digital. 

1267
01:10:34,600 --> 01:10:43,960
Tech.com I want to give a shout 
out to our partner Bitcoin Ben 

1268
01:10:43,960 --> 01:10:46,920
dot IO. 
If you're into freedom, Bitcoin,

1269
01:10:46,960 --> 01:10:49,480
and building a real community, 
this is for you. 

1270
01:10:49,640 --> 01:10:54,840
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1271
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1272
01:10:59,320 --> 01:11:03,600
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meetups, live events and more. 

1273
01:11:03,760 --> 01:11:07,720
Current locations include 
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1274
01:11:07,800 --> 01:11:10,600
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1275
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Clubs launching soon in West 

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Salvador. 

1278
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There's three of them and 
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1279
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You'll also get access to the 
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1280
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1281
01:11:31,440 --> 01:11:35,520
It's called private KeyBank and 
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1282
01:11:35,520 --> 01:11:38,600
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1284
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1285
01:11:45,040 --> 01:11:47,280
If you're interested in mining, 
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1286
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Head over to Bitcoin bend dot 
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1287
01:11:50,120 --> 01:11:52,960
Join today where Bitcoin meets 
freedom. 

1288
01:11:58,320 --> 01:11:59,680
All right, everybody, we are 
back. 

1289
01:11:59,680 --> 01:12:02,760
If you guys are enjoying the 
show so far, make sure to smash 

1290
01:12:02,800 --> 01:12:07,680
that like button. 
We're currently at 291 likes. 

1291
01:12:07,880 --> 01:12:11,720
Help us break 350 likes By the 
end of the show, smash that like

1292
01:12:11,720 --> 01:12:13,680
button opt. 
He's going to dive into the 

1293
01:12:13,680 --> 01:12:15,160
culture. 
And again, you guys are going to

1294
01:12:15,160 --> 01:12:17,520
want to stay tuned to the end of
the show because we're going to 

1295
01:12:17,520 --> 01:12:21,320
be giving away some Sats. 
All right, well, guys, First 

1296
01:12:21,320 --> 01:12:24,800
off, for the culture, I did lint
my I did lint roll my hat, but 

1297
01:12:24,800 --> 01:12:27,240
apparently Nico's house is linty
here still. 

1298
01:12:27,240 --> 01:12:31,000
So yeah, anyways, shout out to 
Ron. 

1299
01:12:32,200 --> 01:12:35,480
I am linty, dude. 
I'm I'm salty and linty right 

1300
01:12:35,480 --> 01:12:37,520
now. 
Thank you, Ron P Super Chat 

1301
01:12:37,520 --> 01:12:39,880
$10.00 for the Chipotle Mayo 
fund. 

1302
01:12:40,720 --> 01:12:44,520
OK, guys, first of all. 
I feel like a. 

1303
01:12:44,520 --> 01:12:47,040
Lot of my cultures have been a 
little doomy and I and I hate 

1304
01:12:47,040 --> 01:12:50,640
being the Fiat dumer guy here, 
but a lot of the charts and 

1305
01:12:50,640 --> 01:12:54,800
metrics that I'm seeing right 
now, they should be worrisome. 

1306
01:12:54,800 --> 01:12:56,440
All right, That's that's just 
going to be my. 

1307
01:12:56,440 --> 01:12:59,760
Context here like this. 
Stuff is the stuff I'm seeing on

1308
01:12:59,760 --> 01:13:01,200
Twitter. 
I don't know who you guys follow

1309
01:13:01,200 --> 01:13:05,000
on Twitter. 
Maybe I've curated my my my 

1310
01:13:05,000 --> 01:13:09,400
Twitter account because it like 
the data I'm getting and from 

1311
01:13:09,400 --> 01:13:12,200
the people that I'm seeing. 
I'm like some of this stuff is 

1312
01:13:12,200 --> 01:13:15,680
absolutely terrifying If you you
are still holding dollars. 

1313
01:13:15,680 --> 01:13:20,040
OK, that's that's kind of like 
the PSA here now this first one 

1314
01:13:20,360 --> 01:13:24,080
is the craziest 1 I think like 
Nico, wait, do that again. 

1315
01:13:24,080 --> 01:13:32,600
So. 
That was crazy. 

1316
01:13:33,040 --> 01:13:36,360
OK. 
This first one is Kobayashi 

1317
01:13:36,360 --> 01:13:41,640
letter great follow you know you
you could argue that they they 

1318
01:13:41,680 --> 01:13:44,320
they do have a certain bent here
they they are a little more 

1319
01:13:44,320 --> 01:13:48,920
doomerish, but again, if you're 
watching the traditional news if

1320
01:13:48,920 --> 01:13:51,480
you're if. 
You're watching the traditional 

1321
01:13:52,240 --> 01:13:55,440
Wait, did you lose me? 
Oh, no, sorry. 

1322
01:13:56,360 --> 01:13:58,880
Someone says we lost off to the 
no dude, I'm bullish. 

1323
01:13:58,880 --> 01:14:01,280
I am bullish as fuck when it 
comes to Bitcoin. 

1324
01:14:01,760 --> 01:14:06,480
But the data I'm seeing coming 
out from the the trad FI system 

1325
01:14:06,920 --> 01:14:09,040
is is where is where this is 
leading. 

1326
01:14:09,040 --> 01:14:13,520
Remember the Bellagi tweet that 
I that his thread that I covered

1327
01:14:13,520 --> 01:14:16,720
the other day. 
It was kind of connecting where 

1328
01:14:16,720 --> 01:14:20,120
we are right now to the very end
of the Soviet Union. 

1329
01:14:20,440 --> 01:14:25,080
And essentially the short of it 
is as things progressed and 

1330
01:14:25,080 --> 01:14:29,240
before the wall came down, all 
of the economic data was being 

1331
01:14:29,240 --> 01:14:32,000
faked and they were trying to 
put out really good numbers. 

1332
01:14:32,000 --> 01:14:34,680
And we're seeing this narrative 
play out right now as a 

1333
01:14:34,680 --> 01:14:37,520
Bitcoiner, we all know, like 
most of the economic data that 

1334
01:14:37,520 --> 01:14:42,960
we're seeing is most likely, you
know, massage, to put it nicely.

1335
01:14:43,400 --> 01:14:48,200
And when it comes to the 
independent journalists, if you 

1336
01:14:48,200 --> 01:14:50,280
want to call them that, you 
know, the independent analysts 

1337
01:14:50,280 --> 01:14:53,240
out there, the numbers aren't 
painting a good scene. 

1338
01:14:53,240 --> 01:14:54,760
OK. 
And I've covered a bunch of 

1339
01:14:54,760 --> 01:14:57,600
different examples, but this one
really kind of struck me. 

1340
01:14:57,600 --> 01:15:01,200
So Kobayashi letter on Twitter 
and he goes, this is insane. 

1341
01:15:01,400 --> 01:15:05,400
The NASDAQ market cap relative 
to the USM 2 money supply has 

1342
01:15:05,400 --> 01:15:10,160
hit a record 176%. 
This means the market value of 

1343
01:15:10,160 --> 01:15:13,920
the NASDAQ is nearly twice as 
large as the total stock of 

1344
01:15:13,920 --> 01:15:17,360
liquid money in the economy. 
The ratio has now exceeded 

1345
01:15:17,720 --> 01:15:23,200
the2000.com bubble peaked by 
roughly 45 percentage points. 

1346
01:15:23,480 --> 01:15:26,360
Never in the history of 
financial markets has the rise 

1347
01:15:26,360 --> 01:15:30,280
in stock prices exceeded the 
growth of the money supply by 

1348
01:15:30,280 --> 01:15:33,000
this much. 
At the same time, the NASDAQ 

1349
01:15:33,000 --> 01:15:39,000
market cap relative to USGDP has
risen to a record 129%, almost 

1350
01:15:39,000 --> 01:15:43,480
doublethe.com peak. 
How much further can it go and 

1351
01:15:43,480 --> 01:15:48,720
remember the, the, the market 
cap of of NASDAQ versus the 

1352
01:15:48,720 --> 01:15:54,400
USGDP, like we, we probably 
haven't seen this scenario ever.

1353
01:15:54,440 --> 01:15:58,000
We probably seen it maybe once 
or twice in the history of the 

1354
01:15:58,040 --> 01:16:00,000
US. 
And this is where you kind of 

1355
01:16:00,000 --> 01:16:03,560
start to think in a big picture,
this isn't just the US, yes, we 

1356
01:16:03,560 --> 01:16:06,120
are US centric because we live 
in the United States. 

1357
01:16:06,120 --> 01:16:08,360
So a lot of our data comes from 
the US. 

1358
01:16:08,680 --> 01:16:11,120
And I'm sure if you look around 
in whatever country you're in, 

1359
01:16:11,120 --> 01:16:16,120
I'm sure it's worse than this. 
The the US economy is still the 

1360
01:16:16,160 --> 01:16:19,680
Chinese turd in the race, OK. 
Like it it all is kind of 

1361
01:16:19,960 --> 01:16:24,680
downstream from us. 
And look, we are in a scenario 

1362
01:16:24,680 --> 01:16:27,800
right now that might be 
worsethanthe.com bubble. 

1363
01:16:28,000 --> 01:16:30,880
Now, I know a lot of people are 
probably saying, oh, bitcoins 

1364
01:16:30,880 --> 01:16:33,520
thereal.com bubble. 
And we would look at it the 

1365
01:16:33,520 --> 01:16:38,040
opposite, like no Fiat currency 
is the real bubble and Bitcoins 

1366
01:16:38,040 --> 01:16:40,920
depend on that. 
And so as we're seeing this push

1367
01:16:40,920 --> 01:16:44,760
from the Trump administration 
for stablecoins, it's hard to 

1368
01:16:44,760 --> 01:16:48,520
see how Bitcoin doesn't RIP 
through this process. 

1369
01:16:48,520 --> 01:16:51,320
I don't know if you guys have 
watched the gold price, but gold

1370
01:16:51,320 --> 01:16:53,600
is also hitting all time highs, 
guys. 

1371
01:16:53,840 --> 01:16:56,640
And you know, sorry, you know, 
what this usually means from a 

1372
01:16:56,640 --> 01:17:00,680
hard money aspect is when people
are fleeing Treasuries and cash 

1373
01:17:01,120 --> 01:17:05,240
and they're diving into gold, a 
hedge against, you know, Fiat 

1374
01:17:05,240 --> 01:17:08,800
collapse, a hedge and against 
inflation, the basement, 

1375
01:17:08,800 --> 01:17:11,760
etcetera. 
This is usually signs that there

1376
01:17:11,760 --> 01:17:15,280
is not only fear in the market, 
fear in the investor, but 

1377
01:17:15,280 --> 01:17:19,240
probably a problem, a 
fundamental problem, a plumbing 

1378
01:17:19,240 --> 01:17:22,480
problem. 
And we're seeing gold has never 

1379
01:17:22,480 --> 01:17:25,120
been this high ever, literally 
ever. 

1380
01:17:25,400 --> 01:17:28,760
So what does that usually mean? 
As we always say here in in 

1381
01:17:28,760 --> 01:17:32,640
Bitcoin, it's not just that 
Bitcoin is going up in price is 

1382
01:17:32,640 --> 01:17:34,680
that your dollar is losing its 
value. 

1383
01:17:34,680 --> 01:17:38,080
Now we're seeing this exact 
thing play out in gold, and 

1384
01:17:38,080 --> 01:17:40,320
usually gold runs before 
Bitcoin. 

1385
01:17:40,520 --> 01:17:43,720
So if there's someone out there,
rather, if there's a collective 

1386
01:17:43,720 --> 01:17:47,120
consciousness out there of 
people seeing this data and 

1387
01:17:47,120 --> 01:17:50,760
being like, wait, there is a 
problem going on, I should 

1388
01:17:50,760 --> 01:17:53,640
probably sell my stocks, I 
should probably not buy 

1389
01:17:53,640 --> 01:17:58,000
Treasuries, and I should just go
into the Armageddon and 

1390
01:17:58,000 --> 01:18:00,360
Armageddon investment, which is 
buying gold. 

1391
01:18:01,440 --> 01:18:04,600
I'm not saying we're going into 
a Mad Max scenario this year, 

1392
01:18:04,600 --> 01:18:08,440
tomorrow, 5-10 years from now. 
All I'm saying is exactly what 

1393
01:18:08,440 --> 01:18:10,440
Kobayashi letter said here at 
the end. 

1394
01:18:10,760 --> 01:18:15,040
How much further can it go now? 
I think they can kick the can 

1395
01:18:15,040 --> 01:18:18,600
down the road farther than and 
longer than any of us could even

1396
01:18:18,600 --> 01:18:22,160
imagine. 
It's not a good thing for people

1397
01:18:22,160 --> 01:18:23,680
on mainstream. 
It's not a good thing for your 

1398
01:18:23,680 --> 01:18:26,160
friends and family if they're 
just holding stocks thinking 

1399
01:18:26,160 --> 01:18:29,720
like, oh, the S&P 500's going to
outperform inflation, I'll be 

1400
01:18:29,720 --> 01:18:31,640
good. 
Or, you know, I, I'm going to 

1401
01:18:31,640 --> 01:18:34,680
put all of my money in the 401 
KS because my employer's going 

1402
01:18:34,680 --> 01:18:36,840
to match it. 
It's like, bro, none of this 

1403
01:18:36,840 --> 01:18:39,040
would matter. 
It or none of this is going to 

1404
01:18:39,040 --> 01:18:43,320
matter if the data comes out 
proving exactly where we are, 

1405
01:18:43,320 --> 01:18:46,280
which if you've been following, 
I'm pretty sure we've been in a 

1406
01:18:46,280 --> 01:18:50,680
recession for officially, 
unofficially in a recession for 

1407
01:18:50,800 --> 01:18:56,600
probably a year or two now. 
It's seeming like if they don't 

1408
01:18:56,600 --> 01:18:59,280
get this under control, hence 
why we think rate cuts are 

1409
01:18:59,280 --> 01:19:03,160
probably coming. 
And if they, if the rate cuts 

1410
01:19:03,160 --> 01:19:06,960
don't do anything, it could 
expose this whole sham that we 

1411
01:19:06,960 --> 01:19:10,520
aren't just in a recession, we 
are probably in a depression 

1412
01:19:10,520 --> 01:19:12,880
right now. 
And if you talk to anyone out 

1413
01:19:12,880 --> 01:19:17,240
there, just like a normie, 
they're probably feeling more of

1414
01:19:17,240 --> 01:19:19,920
a depression type scenario than 
they are a recession. 

1415
01:19:19,920 --> 01:19:21,520
People are working multiple 
jobs. 

1416
01:19:21,520 --> 01:19:23,880
They can't buy groceries. 
Rent's super expensive for most 

1417
01:19:23,880 --> 01:19:27,200
people, hard to pay their bills.
People are struggling right now.

1418
01:19:27,520 --> 01:19:32,280
And this is all the stuff that 
continues to kind of paint the 

1419
01:19:32,280 --> 01:19:34,360
picture. 
This is why I think I've gotten 

1420
01:19:34,360 --> 01:19:38,440
into the macro kind of landscape
here is because, look, Bitcoin 

1421
01:19:38,440 --> 01:19:41,360
is entering those market. 
It's like Bitcoin is entering 

1422
01:19:41,360 --> 01:19:44,720
the mainstream here. 
And if there is something that 

1423
01:19:44,720 --> 01:19:49,080
you can learn from macro markets
or macro analysts is that a lot 

1424
01:19:49,080 --> 01:19:52,000
of the indicators, the 
independent analysts out there 

1425
01:19:52,200 --> 01:19:55,640
are kind of showing that the 
geopolitical macroeconomic 

1426
01:19:55,640 --> 01:19:58,640
landscape is not in a good 
position. 

1427
01:19:58,920 --> 01:20:02,040
And and the only way they can 
keep doing this is what Lynn 

1428
01:20:02,040 --> 01:20:05,120
Alden keeps saying. 
They just they have to continue 

1429
01:20:05,120 --> 01:20:08,760
to print the big print, as Larry
Leopard said, they can't stop 

1430
01:20:08,760 --> 01:20:11,840
this train as Lynn Alden's been 
kind of talking about. 

1431
01:20:12,280 --> 01:20:15,080
And so that's like the big 
doomer stuff on the flip. 

1432
01:20:15,080 --> 01:20:21,120
Side here there is a flip side. 
Is Bitcoin accumulation is 

1433
01:20:21,120 --> 01:20:23,640
rising as holders stack above 
100K. 

1434
01:20:24,040 --> 01:20:27,160
So we are starting to see, you 
know, as people could like to 

1435
01:20:27,160 --> 01:20:30,200
call the mother of all supply 
shocks building up the Bitcoin 

1436
01:20:30,200 --> 01:20:35,080
treasury companies, the, you 
know, the whales out there, you 

1437
01:20:35,080 --> 01:20:38,640
guys out there, we are starting 
to see that people are 

1438
01:20:38,640 --> 01:20:41,960
accumulating Bitcoin now are 
those holders coming from gold 

1439
01:20:41,960 --> 01:20:44,280
or those holders coming from 
dropping treasuries? 

1440
01:20:44,640 --> 01:20:47,320
Are those holders from more 
traditional assets? 

1441
01:20:47,920 --> 01:20:53,320
Yes, but also I don't think in 
size yet so this is like the 

1442
01:20:53,320 --> 01:20:56,840
Paul Revere moment here that we 
should all be on it's we need to

1443
01:20:56,840 --> 01:21:02,240
continue to get as many people 
as we can, however, we can not 

1444
01:21:02,240 --> 01:21:06,880
you know just like shilling them
like incredible price gains 

1445
01:21:06,880 --> 01:21:08,960
here. 
You just got to be like hey man,

1446
01:21:08,960 --> 01:21:10,720
you should probably just buy a 
little bit. 

1447
01:21:10,720 --> 01:21:13,440
You know, just just dip your 
toes in this Bitcoin thing, 

1448
01:21:13,440 --> 01:21:16,640
however however it makes sense 
to your friends and family, but 

1449
01:21:16,640 --> 01:21:20,800
we as bitcoiners, we as you know
simply Bitcoin here and Ruston 

1450
01:21:20,800 --> 01:21:26,120
Dante Sophie Ocean's like we are
we are I I think symbolically 

1451
01:21:26,120 --> 01:21:29,240
like the Paul Revere's out here 
on YouTube just being like guys,

1452
01:21:30,000 --> 01:21:33,360
you need to be holding Bitcoin. 
You have to this isn't this 

1453
01:21:33,360 --> 01:21:38,000
isn't an option anymore. 
This is a necessity, like you 

1454
01:21:38,000 --> 01:21:42,400
need to hold Bitcoin because who
knows how long this can go, Who 

1455
01:21:42,400 --> 01:21:44,920
knows what's going to happen. 
But what we do know is they're 

1456
01:21:44,920 --> 01:21:47,400
going to debase the currency, 
they're going to debase your 

1457
01:21:47,400 --> 01:21:49,880
holdings, and you need to hold 
something that they cannot 

1458
01:21:49,880 --> 01:21:51,800
destroy, which is, of course, 
Bitcoin. 

1459
01:21:52,280 --> 01:21:54,120
And I just want more people to 
hold. 

1460
01:21:54,120 --> 01:21:56,760
It I I like. 
Man, I'm an acceleration list in

1461
01:21:56,760 --> 01:21:59,240
the opposite view, Nico, I don't
want everything to burn. 

1462
01:21:59,240 --> 01:22:03,320
I want everyone to hold Bitcoin 
and we just get past the chasm 

1463
01:22:03,320 --> 01:22:06,640
here. 
I love that. 

1464
01:22:06,640 --> 01:22:09,880
I love that. 
No, I mean, yeah, dude, it 

1465
01:22:10,080 --> 01:22:13,160
things are on an unsustainable 
trajectory. 

1466
01:22:14,160 --> 01:22:20,000
I think this is been the case 
since 1971, really started since

1467
01:22:20,000 --> 01:22:24,880
the executive Order 61-O2. 
And you know, it's been a, it's 

1468
01:22:24,880 --> 01:22:30,640
been decades and decades and 
decades of basically stealing 

1469
01:22:30,640 --> 01:22:32,800
from the future to enrich the 
present. 

1470
01:22:33,880 --> 01:22:39,120
And I think our generation is 
finally when, when those 

1471
01:22:39,120 --> 01:22:41,760
decisions finally caught up with
themselves. 

1472
01:22:41,760 --> 01:22:48,200
I think 2008, 2009, when you 
know, me and Opti were coming of

1473
01:22:48,200 --> 01:22:53,520
age, essentially we, the 
millennial generation's the 

1474
01:22:53,520 --> 01:22:58,680
first generation where we, we 
are, we are feeling the effects 

1475
01:22:58,800 --> 01:23:04,360
of the 2008, 2009 financial 
crisis, the zoomer generation 

1476
01:23:04,360 --> 01:23:06,880
even worse, the alpha generation
even worse. 

1477
01:23:07,800 --> 01:23:10,000
You're not going to own 
anything, right? 

1478
01:23:10,000 --> 01:23:16,440
The medium age for a home buyer 
in the United States is 40 years

1479
01:23:16,560 --> 01:23:22,360
old, the highest it's ever been 
since the data was starting to 

1480
01:23:22,360 --> 01:23:24,880
get a, since the data was 
starting to get accumulated. 

1481
01:23:24,880 --> 01:23:30,320
I mean, it was 2002 and the 
medium age for a home buyer was 

1482
01:23:30,320 --> 01:23:35,520
like 30 years old. 
It's gone up 10 years, right? 

1483
01:23:36,480 --> 01:23:41,680
And then not only that, you talk
about America in the 1950s and 

1484
01:23:41,680 --> 01:23:48,920
1960s and you talked about a 
middle class family being able 

1485
01:23:48,920 --> 01:23:54,400
to support itself off of 1 
income and off of a regular job 

1486
01:23:54,760 --> 01:23:59,160
and they were able to afford a 
home, meaning they're able to 

1487
01:23:59,160 --> 01:24:03,280
live with dignity, right? 
That has been stripped away. 

1488
01:24:03,280 --> 01:24:08,000
The American dream has been 
eviscerated by the central 

1489
01:24:08,000 --> 01:24:13,400
banking system by Fiat. 
And Bitcoin restores that hope. 

1490
01:24:13,840 --> 01:24:17,400
And not only does it restore 
that hope and exports that hope 

1491
01:24:17,480 --> 01:24:22,040
globally, now everybody could 
live the American dream if they 

1492
01:24:22,040 --> 01:24:26,120
start saving and earning in 
Bitcoin, right? 

1493
01:24:26,200 --> 01:24:29,560
So this is what it's all about. 
We all see the numbers. 

1494
01:24:29,840 --> 01:24:37,800
I think with the propagation and
popularity of stable coins, I 

1495
01:24:37,800 --> 01:24:41,480
think the dollar is going to 
continue for the foreseeable 

1496
01:24:41,480 --> 01:24:44,680
future. 
So this this dream that 

1497
01:24:44,680 --> 01:24:47,800
Bitcoiners have that Bitcoin is 
going to replace the dollar. 

1498
01:24:48,000 --> 01:24:50,720
Yeah, sure. 
Maybe 30-40 years from now. 

1499
01:24:50,960 --> 01:24:53,040
I don't think it's going to. 
Happen anytime they're replacing

1500
01:24:53,040 --> 01:24:56,240
the dollar, Nico. 
It's the same thing. 

1501
01:24:56,240 --> 01:24:57,680
It's the same thing. 
It's just digital. 

1502
01:24:57,680 --> 01:25:00,760
It's just digital dollars. 
It's the same thing essentially.

1503
01:25:01,920 --> 01:25:06,240
I, I, I, I'm honestly looking 
forward to a world where you're 

1504
01:25:06,240 --> 01:25:10,400
able to use dollars as 
seamlessly as stablecoins. 

1505
01:25:10,400 --> 01:25:12,800
Like part of the reason I think 
stablecoins are so effing 

1506
01:25:12,800 --> 01:25:15,280
popular is because the banking 
says it. 

1507
01:25:15,280 --> 01:25:17,440
Like, look, I'll be honest with 
you guys. 

1508
01:25:17,440 --> 01:25:22,760
Like I I live in the US, my bank
treats me extremely well. 

1509
01:25:22,760 --> 01:25:24,800
Like I have very good 
experiences with my. 

1510
01:25:24,800 --> 01:25:27,920
Bank fake bitcoiner. 
But that's only but that's only 

1511
01:25:27,920 --> 01:25:31,600
because, right, I've been with 
my bank for many years. 

1512
01:25:31,600 --> 01:25:34,560
I have a small business. 
I've, you know, like again, I'm 

1513
01:25:34,560 --> 01:25:37,280
a great customer, so they have 
every incentive to treat me 

1514
01:25:37,280 --> 01:25:42,400
right. 
But like, you know, the reality 

1515
01:25:42,400 --> 01:25:47,440
is that most people, you know, 
like, if you're not going to 

1516
01:25:47,440 --> 01:25:50,440
have that same banking 
experience, like in most some, 

1517
01:25:50,800 --> 01:25:54,600
even if if you live in a 
specific country, you can't even

1518
01:25:54,600 --> 01:25:57,720
open a bank account. 
Not only that, not only can you 

1519
01:25:57,720 --> 01:26:02,040
not open a bank account, the 
bank, the bank itself might rug 

1520
01:26:02,040 --> 01:26:04,600
you right? 
Like that's crazy. 

1521
01:26:04,600 --> 01:26:06,200
Like, why would you want to do 
that? 

1522
01:26:06,440 --> 01:26:10,520
So like, this is what stable 
coins are for. 

1523
01:26:10,960 --> 01:26:13,760
Like This is why you're, This is
why stable coins are so popular 

1524
01:26:13,760 --> 01:26:18,360
in the global S is because not 
everyone has the ability to open

1525
01:26:18,360 --> 01:26:21,480
a bank account or has the means 
to open a bank account or more 

1526
01:26:21,480 --> 01:26:25,280
importantly, trust in the local 
banking system itself. 

1527
01:26:26,360 --> 01:26:29,680
They've lost faith in it. 
So they, they, they look at, 

1528
01:26:29,720 --> 01:26:31,960
they look at my personal 
favorite Tether and they're 

1529
01:26:31,960 --> 01:26:34,840
like, oh, this is fantastic. 
I can have access to dollars. 

1530
01:26:34,840 --> 01:26:38,200
I can use dollars globally. 
Now this is incredible. 

1531
01:26:38,480 --> 01:26:41,400
But it's a Trojan horse. 
It's a Trojan horse for Bitcoin 

1532
01:26:41,400 --> 01:26:44,360
because it gives them exposure 
to a digital wallet. 

1533
01:26:45,080 --> 01:26:48,920
And then eventually, if enough 
people in that country start 

1534
01:26:48,920 --> 01:26:52,240
adopting the stable coin, a 
stable coin doesn't fix 

1535
01:26:52,240 --> 01:26:54,600
inflation. 
It does not fix inflation. 

1536
01:26:54,800 --> 01:26:58,000
I get it. 
If you're going from a Bolivar 

1537
01:26:58,880 --> 01:27:02,480
with like double digit inflation
and you're transitioning to the 

1538
01:27:02,480 --> 01:27:06,960
dollar, the dollar is going to 
be a a significantly better 

1539
01:27:06,960 --> 01:27:11,120
experience for you. 
But eventually, if you compare 

1540
01:27:11,120 --> 01:27:15,120
and contrast dollars and 
Bitcoin, Bitcoin is going to be 

1541
01:27:15,120 --> 01:27:17,280
a significantly better 
experience for you. 

1542
01:27:17,680 --> 01:27:20,680
But again, it doesn't. 
Bitcoin doesn't have that, that 

1543
01:27:20,680 --> 01:27:24,400
marketing aspect of it doesn't 
have that educational component.

1544
01:27:24,640 --> 01:27:26,760
The dollar's been around for a 
long time. 

1545
01:27:26,760 --> 01:27:31,600
It has very strong branding, the
US economy, the US militarily, 

1546
01:27:31,800 --> 01:27:34,960
the US in general. 
It seemed like the shining city 

1547
01:27:34,960 --> 01:27:36,960
on the hill. 
That's what it seemed, it seemed

1548
01:27:36,960 --> 01:27:39,440
like for, you know, across the 
world. 

1549
01:27:39,440 --> 01:27:43,160
So of course people want access 
to dollars, right? 

1550
01:27:43,480 --> 01:27:47,880
And before stable coins, you 
couldn't get access to dollars, 

1551
01:27:47,880 --> 01:27:51,760
maybe physical dollars, but you 
couldn't get access to digital 

1552
01:27:51,960 --> 01:27:53,400
dollars. 
You need a bank account for 

1553
01:27:53,400 --> 01:27:57,920
that. 
So, yeah, man, I think, you 

1554
01:27:57,920 --> 01:28:01,760
know, to, to, to go back to what
you're saying Opti, to weave all

1555
01:28:01,760 --> 01:28:07,160
this back in like, like I, I'm, 
I don't have faith in the long 

1556
01:28:07,160 --> 01:28:11,160
term viability of this system to
borrow Lynn Alden's quote, 

1557
01:28:11,440 --> 01:28:13,280
right. 
Nothing stops this train. 

1558
01:28:13,280 --> 01:28:16,440
Larry Laparde just wrote a, a 
book called The Big Print. 

1559
01:28:16,680 --> 01:28:19,720
What do you think is going to 
happen to your savings and 

1560
01:28:19,720 --> 01:28:24,200
earnings in dollar terms, in 
purchasing power terms, when 

1561
01:28:24,200 --> 01:28:26,880
that inevitable big print 
happens? 

1562
01:28:27,440 --> 01:28:29,280
It's going to lose purchasing 
power. 

1563
01:28:29,280 --> 01:28:32,440
It's going to be debased and you
know the things that are going 

1564
01:28:32,440 --> 01:28:36,280
to benefit when they inevitably 
start printing money because 

1565
01:28:36,280 --> 01:28:42,000
they have to hard assets and the
best hard asset of them all is 

1566
01:28:42,000 --> 01:28:44,800
Bitcoin, right? 
So anyways, I hope that ties it 

1567
01:28:44,800 --> 01:28:46,640
in. 
We've had an incredible show 

1568
01:28:46,640 --> 01:28:50,520
today, 800 live viewers on 
YouTube alone. 

1569
01:28:50,520 --> 01:28:54,320
Rumble coming in strong, X 
always coming in strong as well.

1570
01:28:54,320 --> 01:28:56,760
I think we are we're on the 
verge of breaking 3000 live 

1571
01:28:56,760 --> 01:28:58,960
viewers on X. 
If you guys enjoyed today's 

1572
01:28:58,960 --> 01:29:03,040
content, make sure to like that 
smash that like button consider 

1573
01:29:03,040 --> 01:29:06,000
subscribing if you feel like we 
provided you value and before we

1574
01:29:06,000 --> 01:29:11,800
go, as I promised, we are going 
to be giving away some sats. 

1575
01:29:12,040 --> 01:29:14,120
So we're going to be playing 
live on air. 

1576
01:29:14,120 --> 01:29:16,320
We're going to be doing a live 
demonstration. 

1577
01:29:16,320 --> 01:29:22,920
If I could log in here of the 
Bitcoin wishing well contest. 

1578
01:29:22,920 --> 01:29:25,720
So what is the Bitcoin Wishing 
Well contest? 

1579
01:29:26,560 --> 01:29:30,880
Well, it's a contest that is 
that you can play at 

1580
01:29:30,880 --> 01:29:33,680
bitcoinwell.com. 
The best place to build your 

1581
01:29:33,680 --> 01:29:36,400
automatic subject back. 
The way that you get access to 

1582
01:29:36,400 --> 01:29:38,640
it is up and you make an 
account. 

1583
01:29:38,640 --> 01:29:41,880
You could do that by scanning 
the QR code on your screen. 

1584
01:29:41,880 --> 01:29:46,440
By the way, if you use the QR 
code or you go to 

1585
01:29:46,440 --> 01:29:50,160
bitcoinwell.com/simply, you get 
3 tosses into the Wishing Well. 

1586
01:29:50,160 --> 01:29:53,000
So 3 tosses you have an 
opportunity to win up to 

1587
01:29:53,000 --> 01:29:58,240
1,000,000 sats every single toss
and you can scan the QR code or 

1588
01:29:58,240 --> 01:30:01,120
you can check the link in the 
video description to start 

1589
01:30:01,120 --> 01:30:03,320
playing today. 
We're gonna be doing a live 

1590
01:30:03,320 --> 01:30:06,480
example for you guys right now 
get your lightning wallets ready

1591
01:30:06,480 --> 01:30:09,600
you the the prize today might be
a million sets. 

1592
01:30:10,320 --> 01:30:12,440
Let's see let's see what the. 
Grand prize is. 

1593
01:30:12,480 --> 01:30:15,680
Today, let's see what it is. 
Let's see what it is. 

1594
01:30:15,680 --> 01:30:17,440
Could you imagine if that would 
be crazy? 

1595
01:30:18,040 --> 01:30:23,600
Today's prize is 347 SAT's. 
Congratulations to the first 

1596
01:30:23,600 --> 01:30:26,000
person who scanned the QR code. 
Again, go to 

1597
01:30:26,000 --> 01:30:31,320
bitcoinwell.com/simple to get 
today and you get 3 tosses into 

1598
01:30:31,320 --> 01:30:33,560
the wishing well. 
Guys, thank you so much for 

1599
01:30:33,560 --> 01:30:34,480
tuning in. 
We love you all. 

1600
01:30:34,480 --> 01:30:37,320
We'll see you tomorrow for 
another episode of Simply 

1601
01:30:37,320 --> 01:30:40,120
Bitcoin Live. 
Today's episode was brought to 

1602
01:30:40,120 --> 01:30:43,680
you by bitcoinwell.com, a 
Bitcoin only platform on a 

1603
01:30:43,680 --> 01:30:46,040
mission to enable financial 
independence.