1 00:00:01,080 --> 00:00:06,720 Bitcoin has exploded to $73,000 and I think we're all just 2 00:00:06,720 --> 00:00:10,840 wondering why we saw Donald Trump attack the banks over the 3 00:00:10,840 --> 00:00:14,880 Clarity Act while in the beginning of a war in Iran. 4 00:00:15,280 --> 00:00:19,240 A Bitcoin exchange just gave me an account with the Fed, but 5 00:00:19,240 --> 00:00:22,000 it's not the one everyone thought it was going to be. 6 00:00:22,320 --> 00:00:26,280 And Morgan Stanley partners with BNY Mellon to launch a Bitcoin 7 00:00:26,280 --> 00:00:29,080 ETF. There's a lot of headwinds, or 8 00:00:29,080 --> 00:00:31,720 rather sorry, a lot of tailwinds to discuss today. 9 00:00:32,119 --> 00:00:37,280 But first, let's watch Jamie Dimon's recent clip in regards 10 00:00:37,280 --> 00:00:41,400 to the war happening with the Clarity Act to really set the 11 00:00:41,400 --> 00:00:43,480 context of what we're talking about today. 12 00:00:45,520 --> 00:00:48,000 You and your peers have reportedly clashed with 13 00:00:48,000 --> 00:00:51,080 Coinbase's Brian Armstrong over the Clarity Act and specifically 14 00:00:51,080 --> 00:00:54,520 this idea of crypto exchanges offering rewards for stable 15 00:00:54,520 --> 00:00:56,600 coins. And Armstrong was on CNBC with 16 00:00:56,600 --> 00:00:59,240 Sara Eisen a few weeks ago from Mar a Lago, and he said there's 17 00:00:59,240 --> 00:01:00,440 a path forward for the market structure. 18 00:01:00,440 --> 00:01:02,680 Bill, That's a quote, win, win outcome for everyone. 19 00:01:03,000 --> 00:01:04,280 How are you feeling about it right now? 20 00:01:04,640 --> 00:01:07,760 The banks feel strongly that there should be rewards of the 21 00:01:07,760 --> 00:01:11,120 same as interest and that you know, a compromise would be that 22 00:01:11,120 --> 00:01:13,800 you could pay rewards on transactions, not balances. 23 00:01:14,120 --> 00:01:16,480 If you are going to be holding balances and paying interest, 24 00:01:16,480 --> 00:01:17,720 that's the bank. You should be regulated by a 25 00:01:17,720 --> 00:01:19,960 bank. So we've been firm one thing 26 00:01:19,960 --> 00:01:22,240 over here, yes, but if you want to be a bank, become a bank, 27 00:01:22,520 --> 00:01:24,160 then you can do whatever you want under bank law. 28 00:01:24,200 --> 00:01:27,880 So I remind people, your viewers may not know banks have 29 00:01:28,080 --> 00:01:31,520 restrictions and requires FDIC insurance, AML, BSA. 30 00:01:31,520 --> 00:01:34,080 We have Community Responsibility Act, which means we have to open 31 00:01:34,080 --> 00:01:36,320 25% of our brands, LMI neighbors with social requirements. 32 00:01:36,320 --> 00:01:38,160 We have liquidity requirements, capital requirements, 33 00:01:38,160 --> 00:01:40,040 transparency requirements, report requirements, 34 00:01:40,040 --> 00:01:41,480 requirements, government requirements. 35 00:01:41,480 --> 00:01:42,640 If they want to be a bank, so be it. 36 00:01:42,760 --> 00:01:45,120 So what we based is level playing field by product. 37 00:01:45,680 --> 00:01:48,000 It can't be you have these people doing one thing, you 38 00:01:48,000 --> 00:01:49,760 know, without any regulation like that, and these people do 39 00:01:49,760 --> 00:01:51,320 another. And if you do do that, the 40 00:01:51,320 --> 00:01:53,080 public will pay it will it will get bad. 41 00:01:53,080 --> 00:01:55,440 So I just people should take a deep breath and what did you 42 00:01:55,440 --> 00:01:57,400 want to? And we want competition. 43 00:01:57,400 --> 00:01:59,240 You know, we're actually one of the biggest users of blockchain 44 00:01:59,400 --> 00:02:02,440 and you know, and you know, we created AJP Morgan deposit coin. 45 00:02:02,600 --> 00:02:04,160 We've moved money, real time payments. 46 00:02:04,360 --> 00:02:06,440 You know, we're moving a lot of data now using blockchain. 47 00:02:06,600 --> 00:02:09,199 So we're in favor of competition, but it's got to be 48 00:02:09,199 --> 00:02:10,759 fair and balanced level playing field. 49 00:02:11,080 --> 00:02:12,520 It's not. It can't be completely skewed. 50 00:02:13,960 --> 00:02:16,680 Yeah, The Gas Lobby by Jamie Dimon's kind of crazy. 51 00:02:17,040 --> 00:02:19,440 I saw a lot of people talking about this on Twitter and, and 52 00:02:19,440 --> 00:02:20,920 I'm going to get into all the different news. 53 00:02:20,920 --> 00:02:25,000 But as we've been covering for the last couple of weeks, really 54 00:02:25,480 --> 00:02:29,680 there is this war happening right now with the Clarity Act. 55 00:02:30,040 --> 00:02:33,160 And we see on one side, it's the banks. 56 00:02:33,200 --> 00:02:35,840 That's why we have Jamie Dimon. It's kind of the figurehead. 57 00:02:35,840 --> 00:02:40,600 And now he's on CNBC talking about this war, though he is 58 00:02:40,600 --> 00:02:43,480 saying, hey, we love competition. 59 00:02:43,720 --> 00:02:46,600 And then he follows that up with we need a level playing field. 60 00:02:47,480 --> 00:02:50,000 They're they're literally they got the regulatory Moat here. 61 00:02:50,000 --> 00:02:54,480 They got, you know, $4 trillion bank saying, hey, Lee, look, 62 00:02:54,480 --> 00:02:57,440 these, these crypto companies are not on a level playing 63 00:02:57,440 --> 00:02:59,560 field. We got to make sure it's a level 64 00:02:59,560 --> 00:03:02,000 competition. And you're just like, wow, the, 65 00:03:02,200 --> 00:03:06,840 the insane gaslighting here by Jamie Dimon to really paint this 66 00:03:06,840 --> 00:03:10,480 as, Hey, the banks are here to protect you, the city, the 67 00:03:10,480 --> 00:03:12,840 citizen. And, and let's not, let's not 68 00:03:12,840 --> 00:03:15,920 like gloss over the fact that he, he broke the 5th wall here. 69 00:03:15,920 --> 00:03:18,240 He's like, let, let's talk to the, the viewers back home 70 00:03:18,240 --> 00:03:20,000 watching this. I'm here to protect you. 71 00:03:21,000 --> 00:03:24,520 There is a war right now and it is the banks and it's, it's 72 00:03:24,520 --> 00:03:27,040 becoming very clear. It was speculation for a little 73 00:03:27,040 --> 00:03:30,400 bit, but the more news coming out of the White House, it is 74 00:03:30,400 --> 00:03:33,440 the banks that are actively fighting the Clarity Act right 75 00:03:33,440 --> 00:03:35,200 now. And it is over the stable coin 76 00:03:35,200 --> 00:03:38,400 yield. Now we can argue over the 77 00:03:38,400 --> 00:03:41,720 specifics of whether the Clarity Act is actually going to be 78 00:03:41,720 --> 00:03:46,320 beneficial for Bitcoin that I think that's still yet to be 79 00:03:46,320 --> 00:03:49,080 resolved, but at least that's the framing. 80 00:03:49,080 --> 00:03:52,320 And actually to start off, I was going to start off somewhere 81 00:03:52,320 --> 00:03:56,440 else because there is some very big news coming out of a Bitcoin 82 00:03:56,440 --> 00:04:00,600 exchange or you could say crypto exchange to the point that Jamie 83 00:04:00,640 --> 00:04:02,640 Dimon said. But I'm going to start here with 84 00:04:03,000 --> 00:04:08,000 literally last night, Donald Trump tweeted about the Clarity 85 00:04:08,000 --> 00:04:11,480 Act or Truth Social post, whatever you call it, about the 86 00:04:11,480 --> 00:04:14,480 Clarity Act. And and there was rumors that 87 00:04:14,480 --> 00:04:19,000 were confirmed later that this tweet happened right after he 88 00:04:19,000 --> 00:04:22,400 had a closed door meeting with Brian Armstrong, CEO, Coinbase. 89 00:04:23,320 --> 00:04:27,080 I thought it very interesting that Trump is even true tweeting 90 00:04:27,080 --> 00:04:29,760 about the Clarity Act right now, considering, you know, what's 91 00:04:29,760 --> 00:04:32,360 happening in the Middle East. Like, I personally, I think 92 00:04:32,360 --> 00:04:35,520 there might be a bigger issues right now than the clarity act 93 00:04:35,520 --> 00:04:39,160 passing, but that didn't stop Donald Trump from posting 94 00:04:39,160 --> 00:04:42,520 something and and it was very favorable for the Clarity act. 95 00:04:42,520 --> 00:04:46,920 So we might be seeing a war happen right now from the banks 96 00:04:46,920 --> 00:04:49,920 versus the crypto industry. And it does seem like Trump has 97 00:04:49,920 --> 00:04:52,840 thrown his hat into the ring. And here we go. 98 00:04:52,840 --> 00:04:55,000 Here's the tweet. This was last night. 99 00:04:55,000 --> 00:04:56,960 I can't confirm this is a real tweet. 100 00:04:56,960 --> 00:04:59,920 This is not a fake news tweet. Here's Donald Trump, he goes, 101 00:05:00,160 --> 00:05:02,760 the genius act is being threatened, undermined by the 102 00:05:02,760 --> 00:05:07,960 banks and that is unacceptable. Again, the kind of crypto White 103 00:05:07,960 --> 00:05:12,840 House press secretaries or you know, the crypto White House 104 00:05:12,840 --> 00:05:16,000 journalists have been saying this, that the reason the 105 00:05:16,000 --> 00:05:18,960 Clarity Act has been stalling is because of the banks. 106 00:05:19,240 --> 00:05:21,920 Now we have Donald Trump, of course, the president of the 107 00:05:21,920 --> 00:05:25,520 United States saying the exact same thing and goes further, 108 00:05:25,520 --> 00:05:29,160 goes we are not going to allow it. the US needs to get market 109 00:05:29,160 --> 00:05:32,720 structure done ASAP. Americans should earn more money 110 00:05:32,720 --> 00:05:35,880 on their money. It's kind of an interesting take 111 00:05:35,880 --> 00:05:36,800 here. I'm not going to lie. 112 00:05:37,000 --> 00:05:39,760 The banks are hitting record profits and we are not going to 113 00:05:39,760 --> 00:05:42,840 allow them to undermine our powerful crypto agenda that will 114 00:05:42,840 --> 00:05:45,840 end up going to China and other countries if we don't get the 115 00:05:45,840 --> 00:05:49,720 Clarity Act taken care of. The Genius Act was EU s s first 116 00:05:49,720 --> 00:05:52,320 big step to make the United States the crypto capital of the 117 00:05:52,320 --> 00:05:55,720 world and getting the Clarity Act done is the next step to 118 00:05:55,720 --> 00:05:59,160 finish the job and most importantly keep this big and 119 00:05:59,160 --> 00:06:01,320 powerful industry in our country. 120 00:06:01,680 --> 00:06:05,000 The bank should not be trying to undercut the Genius Act, hold 121 00:06:05,000 --> 00:06:07,840 the Clarity Act hostage. They need to make a good deal 122 00:06:07,840 --> 00:06:10,440 with the crypto industry because that's what's in the best 123 00:06:10,440 --> 00:06:14,040 interest of the American people. This industry cannot be taken 124 00:06:14,040 --> 00:06:17,480 from the people of America when it is so close to becoming truly 125 00:06:17,480 --> 00:06:19,680 successful. Thank you for your attention to 126 00:06:19,680 --> 00:06:21,840 this matter, President Donald J Trump. 127 00:06:22,080 --> 00:06:26,000 So again, there has been a lot of speculation. 128 00:06:26,160 --> 00:06:30,080 I mean, even for me, I've, I've been very skeptical from the 129 00:06:30,080 --> 00:06:34,440 jump of how serious the Trump administration is taking this 130 00:06:34,440 --> 00:06:37,320 quote, you know, crypto capital of the world or Bitcoin capital 131 00:06:37,320 --> 00:06:40,200 of the world. And slowly but surely we, we are 132 00:06:40,200 --> 00:06:45,600 getting headlines and, you know, snippets and voice captures and 133 00:06:45,600 --> 00:06:48,160 just different headlines coming out of the White House that they 134 00:06:48,160 --> 00:06:52,120 are in fact very serious about the quote crypto capital of the 135 00:06:52,120 --> 00:06:54,040 world. Now, in the last few weeks, I 136 00:06:54,040 --> 00:06:57,160 have become very skeptical that the Clarity Act will even pass 137 00:06:57,360 --> 00:06:59,400 because we are getting a lot of opposition. 138 00:06:59,400 --> 00:07:03,040 But further, as Brian Armstrong said, and I know it was, it was 139 00:07:03,040 --> 00:07:06,000 a big surprise to me when I said I, I tend to agree with Brian 140 00:07:06,000 --> 00:07:07,240 Armstrong. I'm not the biggest fan of 141 00:07:07,240 --> 00:07:11,720 Coinbase, but I do agree with him on this idea that probably 142 00:07:11,720 --> 00:07:13,720 no bill is better than a bad bill. 143 00:07:13,760 --> 00:07:17,320 And from all the amendments that we're seeing added to the 144 00:07:17,320 --> 00:07:20,800 Clarity Act, it started to look like this was becoming a 145 00:07:20,800 --> 00:07:23,600 monstrosity. It's, it's really probably going 146 00:07:23,600 --> 00:07:27,680 to do more damage than good. Well, now we have President 147 00:07:27,680 --> 00:07:31,280 Donald Trump saying, hey, we, we got to get this pass and we got 148 00:07:31,280 --> 00:07:34,640 to do it correctly too. Of course, as he said, make sure 149 00:07:34,640 --> 00:07:37,800 that Americans can get more money from their money. 150 00:07:38,120 --> 00:07:41,440 And two, that it is in the best interest of the American people 151 00:07:41,440 --> 00:07:44,440 for this to pass, which is something I have been saying. 152 00:07:44,440 --> 00:07:49,800 Look, with all of Donald Trump's faults, the Bitcoin idea in and 153 00:07:49,800 --> 00:07:54,400 of itself is a very good idea. Yes, I know we are the separate 154 00:07:54,400 --> 00:08:00,800 money from state show here, but from my perspective, Bitcoin is 155 00:08:00,800 --> 00:08:04,800 as American as apple pie. America embracing Bitcoin, 156 00:08:05,000 --> 00:08:09,080 embracing the 21st century of money, embracing digital money 157 00:08:09,280 --> 00:08:13,480 and not from a CBDC completely corralled and controlled network 158 00:08:13,480 --> 00:08:17,920 dynamic is a good thing. I think Americans should be 159 00:08:17,920 --> 00:08:22,560 allowed to use Bitcoin to transact in Bitcoin and and we 160 00:08:22,560 --> 00:08:24,680 will be able to outperform the dollar. 161 00:08:24,680 --> 00:08:27,600 The dollar has, you know, constantly losing purchasing 162 00:08:27,600 --> 00:08:28,960 power. And I don't know if you guys saw 163 00:08:28,960 --> 00:08:30,680 it this morning. I actually didn't bring it up on 164 00:08:30,680 --> 00:08:33,600 the show for you guys today because I I have a lot to cover 165 00:08:33,600 --> 00:08:36,159 on on this news story, but it was in line on this. 166 00:08:36,360 --> 00:08:40,360 Senator Lummis was on Squawk Box this morning talking about the 167 00:08:40,360 --> 00:08:43,080 war in Iran, Of course, the Clarity Act. 168 00:08:43,200 --> 00:08:48,360 But they did talk about the de minimis capital gains tax or de 169 00:08:48,360 --> 00:08:52,520 minimis tax break on Bitcoin. Shout out to Joe Kernan on 170 00:08:52,520 --> 00:08:54,280 Squawk Box. He's, he's the best Bitcoin 171 00:08:54,280 --> 00:08:55,960 podcaster in the world currently. 172 00:08:56,280 --> 00:09:00,680 And he brought it up, though from what we're hearing, it's 173 00:09:00,680 --> 00:09:03,360 not really in a good place on the de minimis tax. 174 00:09:03,440 --> 00:09:06,760 Senator Lummis reiterated the fact that it was, you know, 175 00:09:06,760 --> 00:09:09,520 $600.00. It went down to 200. 176 00:09:09,520 --> 00:09:13,280 Currently they're talking about a $300 de minimis exemption from 177 00:09:13,280 --> 00:09:15,760 Bitcoin. So if you, you know, buy 178 00:09:15,760 --> 00:09:19,200 something worth $300 or less than you shouldn't get taxed on 179 00:09:19,200 --> 00:09:21,480 it. But Joe Kernan again, and the 180 00:09:21,480 --> 00:09:24,920 best Bitcoin podcaster, he he was making fun of the idea. 181 00:09:24,920 --> 00:09:28,200 It's like, look, if we are seeing capital gains tax on 182 00:09:28,200 --> 00:09:31,920 Bitcoin, then maybe we should be getting tax exemption from the 183 00:09:31,920 --> 00:09:34,720 dollar because it is literally designed to steal your 184 00:09:34,720 --> 00:09:37,120 purchasing power. Love to see the narrative 185 00:09:37,120 --> 00:09:39,440 spread. Anyways, remember what Jamie 186 00:09:39,440 --> 00:09:44,560 Dimon just said. He said if crypto exchanges or 187 00:09:44,560 --> 00:09:49,720 Bitcoin companies, Bitcoin exchanges want to basically act 188 00:09:49,720 --> 00:09:53,560 like a bank and you know, provide yield on stable coins or 189 00:09:53,560 --> 00:09:56,920 rewards as the Bitcoin crypto industry has been calling it, 190 00:09:57,200 --> 00:09:59,360 then maybe they should become a bank. 191 00:09:59,880 --> 00:10:03,280 Well, we did get some pretty historic news this morning in 192 00:10:03,280 --> 00:10:07,280 line with that idea. So maybe Jamie Dimon is asking 193 00:10:07,280 --> 00:10:09,720 for something that he really doesn't want. 194 00:10:09,720 --> 00:10:12,640 Maybe he thought this was a dunk 'cause this did happen last 195 00:10:12,640 --> 00:10:15,280 night. So he wasn't Privy to this news 196 00:10:15,280 --> 00:10:17,840 this morning. Maybe he thought it was a dunk 197 00:10:17,840 --> 00:10:21,480 by saying, hey, if if crypto exchanges want to do bank things 198 00:10:21,480 --> 00:10:24,760 and they should become banks. Well, this morning we got some 199 00:10:24,760 --> 00:10:26,760 pretty big news. So I'll start there. 200 00:10:27,960 --> 00:10:32,000 This is the news coming out this morning, which is a first, a 201 00:10:32,120 --> 00:10:35,440 world first here and and I know, you know, has to do with the 202 00:10:35,440 --> 00:10:37,000 feds. So I know a lot of bitcoiners 203 00:10:37,000 --> 00:10:38,760 are like, yeah, whatever, dude, What what's this? 204 00:10:38,760 --> 00:10:41,560 What's this really mean? But the headline Kraken becomes 205 00:10:41,560 --> 00:10:45,640 the first crypto company to secure a Fed master account 206 00:10:45,640 --> 00:10:48,960 access. Excuse me, the approval let's 207 00:10:48,960 --> 00:10:52,080 Kraken speed up deposits and withdrawals for large traders 208 00:10:52,080 --> 00:10:55,360 and institutional clients, But of course it is limited. 209 00:10:55,600 --> 00:10:59,680 So just breaking this down, Kraken again secured a Federal 210 00:10:59,680 --> 00:11:03,200 Reserve's master account, giving its banking arm direct access to 211 00:11:03,200 --> 00:11:06,560 the Feds core payment systems and allowing it to settle 212 00:11:06,560 --> 00:11:09,120 payments itself. You heard that correctly. 213 00:11:09,120 --> 00:11:12,880 Kraken now doesn't have to deal with the middle man's to settle 214 00:11:12,880 --> 00:11:14,800 their money. They can settle directly with 215 00:11:14,800 --> 00:11:19,160 the Fed. From one perspective, this is a 216 00:11:19,240 --> 00:11:22,280 Bitcoin Trojan horse narrative happening right now. 217 00:11:22,280 --> 00:11:24,320 From the other one, maybe you guys are thinking like, oh, 218 00:11:24,400 --> 00:11:26,560 we're just bending the knee to the Federal Reserve. 219 00:11:26,920 --> 00:11:30,040 But guys, this is how banking works at look, for better or 220 00:11:30,040 --> 00:11:34,440 worse, if you're if you're doing banking things, you're most 221 00:11:34,440 --> 00:11:35,920 likely dealing with the Fed here. 222 00:11:35,920 --> 00:11:40,520 So this is a big news story. This is a big first for the 223 00:11:40,520 --> 00:11:45,520 quote UN quote crypto industry. Obviously from the Bitcoin maxi 224 00:11:45,520 --> 00:11:47,680 perspective, the Bitcoin only perspective you would have loved 225 00:11:47,680 --> 00:11:50,680 to see, just like a Bitcoin only bank be the first one or Bitcoin 226 00:11:50,680 --> 00:11:54,360 only exchange be the first one. But hey, you know, little wins, 227 00:11:54,360 --> 00:11:56,760 little wins here. Going further, the approval 228 00:11:56,760 --> 00:11:59,680 let's Kraken speed up deposits and withdrawals for large trades 229 00:11:59,680 --> 00:12:02,280 and institutional clients. Of course, it's limited with 230 00:12:02,280 --> 00:12:05,680 Kraken not earning interest on reserves or accessing the Feds 231 00:12:05,680 --> 00:12:08,600 emergency lending. So I saw some people saying 232 00:12:08,600 --> 00:12:12,040 like, oh, Bitcoin exchange getting bailed out by the Fed 233 00:12:12,600 --> 00:12:15,800 very clearly they don't get feds emergency landing. 234 00:12:15,800 --> 00:12:19,560 So they're still going to have to be very smart with their 235 00:12:19,560 --> 00:12:21,600 balances. They they will have to be full 236 00:12:21,600 --> 00:12:22,960 reserve. They don't get the luxury of 237 00:12:22,960 --> 00:12:26,920 being fractional reserve here, but they can settle with the Fed 238 00:12:26,920 --> 00:12:30,800 directly, which it's going to be very interesting to see how this 239 00:12:30,800 --> 00:12:36,040 improves Kraken, how this fully supercharged charges the Bitcoin 240 00:12:36,040 --> 00:12:40,600 industry and maybe very soon we see more crypto companies, 241 00:12:40,600 --> 00:12:43,680 Bitcoin exchanges getting similar access. 242 00:12:43,680 --> 00:12:46,280 Though again, we know how the banking system works. 243 00:12:46,280 --> 00:12:49,960 This could be a regulatory Moat kind of scenario, giving Kraken 244 00:12:49,960 --> 00:12:52,400 the advantage again. The move is part of Kraken's 245 00:12:52,400 --> 00:12:56,080 efforts to expand the operations and move towards a potential IPO 246 00:12:56,480 --> 00:12:58,960 initial public offering, following in the footsteps of 247 00:12:58,960 --> 00:13:01,120 other crypto firms like Coinbase and Gemini. 248 00:13:01,960 --> 00:13:05,680 Of course, Kraken is the first one Yesterday mentioned Coinbase 249 00:13:05,680 --> 00:13:09,200 and Gemini, but that's because they're all trying to IPOIPO is 250 00:13:09,200 --> 00:13:14,320 the big, you know, exit for all of the Ogs, the CEOs, the 251 00:13:14,320 --> 00:13:16,880 C-Suite of these exchanges, It's their payday. 252 00:13:17,320 --> 00:13:19,960 And you know, a lot of people are just kind of wondering like, 253 00:13:19,960 --> 00:13:23,200 OK, what is this master account? Well, we, we broke it down 254 00:13:23,200 --> 00:13:25,120 already. It gives it banking arm direct 255 00:13:25,120 --> 00:13:28,840 access to the feds core payment systems, and of course, it's the 256 00:13:28,840 --> 00:13:32,200 first one. So huge news coming out of more 257 00:13:32,200 --> 00:13:34,720 of the crypto, you know, sector here. 258 00:13:35,160 --> 00:13:43,040 But this does show that Bitcoin is slowly and surely taking over 259 00:13:43,040 --> 00:13:46,120 the banking system. Yes, I know Trojan horse meme of 260 00:13:46,120 --> 00:13:50,480 Bitcoin hasn't been going the best recently, but I think first 261 00:13:50,480 --> 00:13:55,640 and foremost, Bitcoin has to get a foothold into trad 5. 262 00:13:56,960 --> 00:13:58,160 That's just how it's going to work. 263 00:13:58,440 --> 00:14:02,240 I know there's been a lot of ideas or a lot of takes that oh, 264 00:14:02,320 --> 00:14:06,200 Bitcoin being a parallel economy, it will just do its own 265 00:14:06,200 --> 00:14:10,000 thing and eventually people will pour into Bitcoin and completely 266 00:14:10,000 --> 00:14:11,760 ignore the traditional financial system. 267 00:14:12,520 --> 00:14:17,760 It's, it's a good theory, but in practice you need banking 268 00:14:17,760 --> 00:14:19,840 services. And for better or worse, the 269 00:14:19,840 --> 00:14:22,920 banks do not see Bitcoin like we see Bitcoin. 270 00:14:23,080 --> 00:14:25,320 You still have to use banking services. 271 00:14:25,320 --> 00:14:29,160 So I know there's a lot of talk about Bitcoin, parallel economy, 272 00:14:29,160 --> 00:14:33,600 medium exchange, but for most of us all in on Bitcoin, yes, you 273 00:14:33,600 --> 00:14:38,760 can do the heavy work of trying to live 100% on Bitcoin, but at 274 00:14:38,760 --> 00:14:41,400 a certain point you're still going to have to interact with 275 00:14:41,400 --> 00:14:45,200 the Fiat system. Kraken, they just kind of cut 276 00:14:45,200 --> 00:14:46,800 out a middle man. They're going directly to the 277 00:14:46,800 --> 00:14:48,440 Fed. It's a pretty big move. 278 00:14:48,440 --> 00:14:51,120 This is actually a a pretty huge move here. 279 00:14:51,120 --> 00:14:56,080 So we're seeing a war with the clarity Act banks versus the 280 00:14:56,080 --> 00:14:59,120 crypto industry. Looks like Trump is siding with 281 00:14:59,120 --> 00:15:02,600 the crypto industry here. We're seeing Kraken get a master 282 00:15:02,600 --> 00:15:05,840 account at the Fed. A huge story, a huge first 283 00:15:05,840 --> 00:15:07,720 historic moment right now in Bitcoin. 284 00:15:08,160 --> 00:15:12,680 And then of course, the bigger news, well, maybe not bigger 285 00:15:12,680 --> 00:15:17,800 news, but a big news in the same vein of just how excited I think 286 00:15:18,120 --> 00:15:20,880 Wall Street is. Our institutions are for Bitcoin 287 00:15:20,880 --> 00:15:23,960 and it brings its own problems. Of course, it brings its own 288 00:15:23,960 --> 00:15:26,200 problems as we are currently living through. 289 00:15:26,480 --> 00:15:31,760 But we see Morgan Stanley now tap Coinbase and BNY Mellon for 290 00:15:31,760 --> 00:15:34,440 custody in a proposed Bitcoin ETF. 291 00:15:34,440 --> 00:15:37,720 So more ETFs, though this one is a little different. 292 00:15:38,640 --> 00:15:42,160 This is a Bitcoin trust. So BNY to act as administrator, 293 00:15:42,160 --> 00:15:45,040 transfer agent and cash custodian for Morgan Stanley's 294 00:15:45,040 --> 00:15:50,160 proposed Bitcoin trust. Kind of interesting what what 295 00:15:50,160 --> 00:15:51,640 the Bitcoin trust might actually be. 296 00:15:51,640 --> 00:15:55,040 But Morgan Stanley filed with the Seca perspective outlining 297 00:15:55,040 --> 00:15:58,240 the structure of a proposed Morgan Stanley Bitcoin trust, 298 00:15:58,560 --> 00:16:01,960 revealing that the fund plans to use Coinbase Custody and the 299 00:16:01,960 --> 00:16:05,120 Bank of New York Mellons to safeguard its Bitcoin holdings, 300 00:16:05,360 --> 00:16:10,160 according to the S1 submitted. So big banks coming into custody 301 00:16:10,160 --> 00:16:13,160 Bitcoin, they're partnering with crypto companies here. 302 00:16:13,880 --> 00:16:17,280 But again, as we've been covering for years, Nico keeps 303 00:16:17,280 --> 00:16:21,360 reiterating the same idea about what Michael Saylor has been 304 00:16:21,360 --> 00:16:23,840 saying is going to drive us into the seven figure numbers. 305 00:16:24,160 --> 00:16:27,960 It is, of course, the FAZBE accounting rules, the ETFs and 306 00:16:27,960 --> 00:16:31,440 the bank's custody Bitcoin. Well, we're starting to see more 307 00:16:31,440 --> 00:16:32,760 of the bank's custody in Bitcoin. 308 00:16:32,760 --> 00:16:35,960 Now, again, this does come with its own problems. 309 00:16:35,960 --> 00:16:40,680 I would say personally, I'm not going to be trusting the Tradfi 310 00:16:40,840 --> 00:16:44,840 brand names to be custodying my Bitcoin because I sell custody 311 00:16:44,840 --> 00:16:48,480 my Bitcoin, as the meme always goes, you know, oh wait, I 312 00:16:48,480 --> 00:16:49,720 didn't pull it out for you guys. Sorry. 313 00:16:50,480 --> 00:16:53,760 As the meme goes, you know, you don't have to trust the banks 314 00:16:53,760 --> 00:16:56,520 anymore because you can become your own banks. 315 00:16:56,520 --> 00:17:00,480 And that of course, that also comes with its own set of attack 316 00:17:00,480 --> 00:17:04,839 vectors here. But it is interesting how a lot 317 00:17:04,839 --> 00:17:07,880 of people are waiting for the institution to get into Bitcoin 318 00:17:08,839 --> 00:17:11,720 when in reality, you don't need permission to get into Bitcoin. 319 00:17:11,760 --> 00:17:15,640 You just need to, you know, sell your Fiat to get some Bitcoin. 320 00:17:16,079 --> 00:17:21,800 But it is a stark contrast to where we've been the last, you 321 00:17:21,800 --> 00:17:26,680 know, 15-16 years of Bitcoin, where we've been on the outside, 322 00:17:26,680 --> 00:17:30,520 we've been getting fought and we've been kind of relegated 323 00:17:30,520 --> 00:17:32,200 into the dark corners of the Internet. 324 00:17:32,520 --> 00:17:36,800 And ever since last year, now you're starting to see there is 325 00:17:37,120 --> 00:17:41,680 a, a gradual move into Bitcoin. And for all of us that's been in 326 00:17:41,680 --> 00:17:44,640 Bitcoin for a long time, that Bitcoin or the, the meme 327 00:17:44,640 --> 00:17:47,080 institutions are here, you know, they're going to save Bitcoin, 328 00:17:47,080 --> 00:17:48,840 they're going to pump our pump our bags. 329 00:17:49,240 --> 00:17:53,960 It hasn't really happened yet because I think they are still 330 00:17:54,200 --> 00:17:57,200 like we're seeing with this Morgan Stanley ETF and BNY 331 00:17:57,200 --> 00:18:01,480 Mellon ETF. It, it takes, it takes a while. 332 00:18:01,480 --> 00:18:04,040 They, these institutions move very slowly. 333 00:18:04,280 --> 00:18:08,120 Now, one other thing I do want to bring up real quickly is do 334 00:18:08,120 --> 00:18:11,880 you guys remember who one of the biggest donors to the Trump 335 00:18:11,880 --> 00:18:15,160 administration was? It was from a banking family. 336 00:18:16,760 --> 00:18:19,960 Can you connect the two? It was BNY Mellon. 337 00:18:20,840 --> 00:18:22,440 So now they're getting into Bitcoin. 338 00:18:22,440 --> 00:18:26,120 One of the biggest donors to the Trump administration was this 339 00:18:26,120 --> 00:18:29,040 banking family, the Mellons. And now we're seeing, hey, 340 00:18:29,040 --> 00:18:34,320 they're getting into Bitcoin. Look, I think you guys seen me 341 00:18:34,320 --> 00:18:39,960 on the show be like, I don't know how excited I am for 342 00:18:39,960 --> 00:18:43,200 Bitcoin and politics to collide. Yes, I've gotten more political. 343 00:18:43,200 --> 00:18:45,000 Yes, this show has gotten more political. 344 00:18:45,000 --> 00:18:49,760 Rightly so, in my opinion, because politics is here, but 345 00:18:49,760 --> 00:18:53,480 you're seeing the political machine is starting to get 346 00:18:53,480 --> 00:18:56,520 behind Bitcoin. The institutional machine is 347 00:18:56,520 --> 00:19:00,280 starting to get behind Bitcoin. Again, there's pros and cons to 348 00:19:00,280 --> 00:19:03,360 this. Obviously the Pro is always 349 00:19:03,360 --> 00:19:06,240 they're going to pump our bags That that that's all I care 350 00:19:06,240 --> 00:19:07,360 about really. It's like, are they going to 351 00:19:07,360 --> 00:19:10,520 pump our bags? If they do, all right, cool, we 352 00:19:10,520 --> 00:19:13,400 don't really need you, but I'll, I'll take some, you know, some 353 00:19:13,400 --> 00:19:16,840 bag, pump it, cheer. On the flip side, we are seeing 354 00:19:16,840 --> 00:19:20,520 there is this seemingly coordinated effort to 355 00:19:20,520 --> 00:19:24,080 centralized a lot of Bitcoin to literally incentivize you to 356 00:19:24,080 --> 00:19:27,200 give get rid of your Bitcoin into these products. 357 00:19:27,440 --> 00:19:29,960 And then they can do whatever kind of crazy move they want to 358 00:19:29,960 --> 00:19:32,680 do or whatever crazy plan they have for your Bitcoin. 359 00:19:32,960 --> 00:19:35,840 As I always say, it's usually about the shit corners. 360 00:19:35,840 --> 00:19:38,320 You know, shit corners love Bitcoin, They just love your 361 00:19:38,320 --> 00:19:41,600 Bitcoin more. I think we can, you know, put an 362 00:19:41,600 --> 00:19:44,720 iteration on this. Wall Street loves Bitcoin. 363 00:19:44,720 --> 00:19:46,560 They just love your Bitcoin more. 364 00:19:46,760 --> 00:19:51,040 So you have to do whatever you can to make sure that you do not 365 00:19:51,040 --> 00:19:54,040 give up your Bitcoin. Do not fall for the siren song. 366 00:19:54,040 --> 00:19:57,640 Now I know we're all wondering what exactly is pushing the 367 00:19:57,640 --> 00:20:03,400 Bitcoin price, like why is Bitcoin currently in the face of 368 00:20:03,640 --> 00:20:07,320 macro geopolitical uncertainty that you would expect Bitcoin to 369 00:20:07,320 --> 00:20:10,320 drop? I was fully expecting Bitcoin to 370 00:20:10,320 --> 00:20:15,160 crash on Monday and here we are. Bitcoin is up at 73 K. 371 00:20:16,320 --> 00:20:19,320 It is a very interesting thought experiment that I will talk 372 00:20:19,320 --> 00:20:21,640 about towards the end of the show 'cause I'm going to compare 373 00:20:21,640 --> 00:20:25,520 it to other assets currently and how well Bitcoin has performed 374 00:20:25,880 --> 00:20:29,960 so. Maybe there's not one storyline 375 00:20:29,960 --> 00:20:31,920 that is pumping Bitcoin right now. 376 00:20:32,160 --> 00:20:36,280 It could be as Nick Bhatia tweeted, a combination of all 377 00:20:36,280 --> 00:20:38,760 these things. He's like I reflect reflected on 378 00:20:38,760 --> 00:20:40,800 this morning Bitcoin news for a couple of hours. 379 00:20:41,000 --> 00:20:43,680 This was at 10 AM. You know, this news came out in 380 00:20:43,680 --> 00:20:44,440 the morning. He goes. 381 00:20:44,640 --> 00:20:47,520 The combination of cracking, getting a Federal Reserve master 382 00:20:47,520 --> 00:20:50,960 account, Morgan Stanley filing for a Bitcoin ETF with BNY 383 00:20:50,960 --> 00:20:54,880 Mellon as custodian feels like just another institutional 384 00:20:54,880 --> 00:20:58,520 adoption Newsday. But in reality, it's probably 385 00:20:58,520 --> 00:21:02,000 one of those days that changes the game again forever in 386 00:21:02,000 --> 00:21:05,640 bitcoins favor the USA is Bitcoin country. 387 00:21:05,880 --> 00:21:10,320 And I think with the news of Trump coming out and really 388 00:21:10,320 --> 00:21:12,600 standing on the frontline to being like, look, we have to get 389 00:21:12,600 --> 00:21:15,720 this clarity act through. It really is oh, I didn't pull 390 00:21:15,720 --> 00:21:17,800 it up. It really is kind of changing 391 00:21:17,800 --> 00:21:22,000 the tide here, especially when you we you see that like we're 392 00:21:22,000 --> 00:21:23,520 in another war in Iran right now. 393 00:21:23,720 --> 00:21:26,520 A lot of a lot of conversation, a lot of contention of whether 394 00:21:26,520 --> 00:21:29,960 we're in a forever war or whether this is going to end in, 395 00:21:29,960 --> 00:21:32,600 you know, a few days, a few weeks, a few months. 396 00:21:32,880 --> 00:21:34,680 We really don't know what's going on. 397 00:21:34,680 --> 00:21:37,800 And that is where I was most curious about this this morning. 398 00:21:37,800 --> 00:21:41,560 It's like like Trump, I feel like has a lot more on his plate 399 00:21:41,560 --> 00:21:47,160 this morning in, in regards to what is happening in Iran that 400 00:21:47,160 --> 00:21:50,720 the fact that he's tweeting about the clarity act now, it is 401 00:21:50,720 --> 00:21:53,080 a, it is a strange move to me personally. 402 00:21:53,080 --> 00:21:57,320 Now, you guys in the chat might think differently, but from my 403 00:21:57,320 --> 00:22:03,720 kind of, you know, game theory of what is the highest bullet 404 00:22:03,720 --> 00:22:07,800 point on Trump's list of things he needs to do, I was fully 405 00:22:07,800 --> 00:22:11,360 convinced that the crypto stuff, the Bitcoin stuff, the Clarity 406 00:22:11,360 --> 00:22:13,600 Act would be at the lower part of his list. 407 00:22:13,920 --> 00:22:15,920 And here we are in the middle of the skirmish. 408 00:22:16,320 --> 00:22:19,160 He thinks it's important to be tweeting about the Clarity Act. 409 00:22:19,280 --> 00:22:23,600 Now, you could argue a lot of different ways on this. 410 00:22:23,600 --> 00:22:26,400 I know some of the chat is not so Trump friendly. 411 00:22:27,400 --> 00:22:29,280 I've been very critical on Trump. 412 00:22:29,280 --> 00:22:33,800 Nico is still wrapping his head around the idea of is Trump good 413 00:22:33,800 --> 00:22:36,800 or bad for Bitcoin? Was it a mistake to vote him in 414 00:22:38,720 --> 00:22:41,920 again? I truly believe that the Bitcoin 415 00:22:42,960 --> 00:22:47,600 idea, the Bitcoin superpower of the world, I think it is a good 416 00:22:47,600 --> 00:22:49,760 idea. We saw it take place in El 417 00:22:49,760 --> 00:22:51,400 Salvador. It was a great idea for El 418 00:22:51,400 --> 00:22:53,240 Salvador. Though El Salvador is a tiny 419 00:22:53,240 --> 00:22:57,040 country, it's a blip on the map. the US being the world reserve 420 00:22:57,040 --> 00:23:00,680 superpower, being the head superpower, at least for now. 421 00:23:01,480 --> 00:23:06,240 Embracing Bitcoin is a huge narrative shift from what we've 422 00:23:06,240 --> 00:23:09,400 been doing in Bitcoin in the past to where we currently are 423 00:23:09,400 --> 00:23:12,600 now. Now I know a lot of us and me 424 00:23:12,600 --> 00:23:16,200 included, and some of you guys in the chat, we look at Trump 425 00:23:16,200 --> 00:23:19,680 getting into Bitcoin and we're probably wondering and debating 426 00:23:19,680 --> 00:23:22,920 like, was it really a good idea? It it's almost like he's done 427 00:23:22,920 --> 00:23:25,600 more harm to our space than good recently. 428 00:23:26,840 --> 00:23:30,800 But if the clarity Act does get approved or the bill that 429 00:23:30,800 --> 00:23:33,640 they're going to vote through does get approved and it is 430 00:23:33,640 --> 00:23:37,280 favorable for the industry and capital does come into Bitcoin 431 00:23:37,320 --> 00:23:40,440 or sorry, into the US for Bitcoin and crypto at large. 432 00:23:41,160 --> 00:23:43,640 I think it will be one of those defining moments. 433 00:23:43,640 --> 00:23:50,240 So I do, I don't want to do the, the, the, you know, 434 00:23:50,240 --> 00:23:54,720 quintessential, like sometimes centuries happened in days and 435 00:23:54,720 --> 00:23:56,520 sometimes there's centuries that nothing happened. 436 00:23:56,840 --> 00:24:00,720 But today's news story does or multiple news stories does seem 437 00:24:00,720 --> 00:24:04,080 like one of those days that we will probably be looking back on 438 00:24:04,080 --> 00:24:08,560 and being like, OK, you know, in hindsight, the signs were there. 439 00:24:08,800 --> 00:24:10,840 It's very obvious what is going on. 440 00:24:11,040 --> 00:24:13,520 I think a lot of the uncertainty, a lot of the 441 00:24:13,520 --> 00:24:17,120 division going on right now, I really believe that the Bitcoin 442 00:24:17,120 --> 00:24:20,280 stuff, the crypto stuff was going to just completely be 443 00:24:20,280 --> 00:24:23,960 sidelined, not talked about again, especially since the 444 00:24:23,960 --> 00:24:26,840 midterms are coming up. But Trump found it very 445 00:24:26,840 --> 00:24:28,280 important to be tweeting about this. 446 00:24:28,520 --> 00:24:32,000 And again, you know, he just, he did have a meeting with Brian 447 00:24:32,000 --> 00:24:35,560 Armstrong and the timeline apparently suggests that he had 448 00:24:35,560 --> 00:24:37,240 a closed door meeting with Brian Armstrong. 449 00:24:37,480 --> 00:24:40,640 Then he tweeted this. So maybe Brian Armstrong was 450 00:24:40,640 --> 00:24:43,240 able to get in his ear and be like, look, it's the banks that 451 00:24:43,240 --> 00:24:46,400 are fighting us. We want to try to get what your 452 00:24:46,400 --> 00:24:50,160 agenda is across the goal line, but it's the banks that are 453 00:24:50,160 --> 00:24:53,520 fighting us yesterday, like the clip I played you Jamie Diamonds 454 00:24:53,520 --> 00:24:55,840 out here like, hey, we want you know, we're we're not the ones 455 00:24:55,840 --> 00:25:00,280 that are slowing the clarity Act Bill is like, we want to get 456 00:25:00,280 --> 00:25:01,920 this done. We just want to make sure it's 457 00:25:01,920 --> 00:25:05,400 fair and competitive and level playing field where they're 458 00:25:05,400 --> 00:25:08,360 literally the biggest bank in the world and they probably have 459 00:25:08,360 --> 00:25:11,720 all of the not so fair advantages here. 460 00:25:12,440 --> 00:25:15,640 The timing is very interesting from my opinion and especially 461 00:25:15,640 --> 00:25:19,600 now that Bitcoin is pumping well, I mean, for us, that's 462 00:25:19,600 --> 00:25:21,680 been around for a while. This could be considered a, you 463 00:25:21,680 --> 00:25:24,800 know, pump for ants here. But the fact that Bitcoin is at 464 00:25:24,800 --> 00:25:28,320 73 K and we're seeing all these news, I don't think we can 465 00:25:28,320 --> 00:25:33,680 pinpoint one specific news line to really explain the Bitcoin 466 00:25:33,680 --> 00:25:36,320 pump. I think it's a multitude of 467 00:25:36,320 --> 00:25:39,040 factors right now. And of course, the simple supply 468 00:25:39,040 --> 00:25:42,240 demand dynamics of Bitcoin. It's probably just because 469 00:25:42,240 --> 00:25:44,600 someone wants to buy a lot of Bitcoin. 470 00:25:44,840 --> 00:25:47,080 The reason the Bitcoin price goes up, it's because people are 471 00:25:47,080 --> 00:25:51,400 buying Bitcoin right now. But again, that narrative in and 472 00:25:51,400 --> 00:25:55,840 of itself is very interesting considering I think most of us 473 00:25:55,840 --> 00:25:58,800 would think that World War Three would be bad for Bitcoin. 474 00:25:58,800 --> 00:26:02,680 Now, we're still not necessarily in World War Three, but that is 475 00:26:02,680 --> 00:26:04,920 what the narrative is. It's like, man, did did Trump 476 00:26:04,920 --> 00:26:08,400 just start World War 3 and now he's focused on Bitcoin and the 477 00:26:08,400 --> 00:26:10,800 Clarity Act passing? It's like I think he's got 478 00:26:10,800 --> 00:26:14,240 bigger fish to fry right now. But hey, it seems like they're 479 00:26:14,240 --> 00:26:17,400 still very serious to try to get the Clarity Act across. 480 00:26:18,120 --> 00:26:20,520 Excuse me. And I know, like I said, there 481 00:26:20,520 --> 00:26:23,920 was like a kind of a pseudo deadline of March 1st. 482 00:26:23,920 --> 00:26:26,840 Now that's the deadline that Trump wanted to make it happen. 483 00:26:26,840 --> 00:26:30,240 It's not the official deadline. There's still speculations and 484 00:26:30,240 --> 00:26:34,120 rumors that we might get something for the Clarity Act 485 00:26:34,120 --> 00:26:37,920 through by the end of March. So this is an ongoing developing 486 00:26:37,920 --> 00:26:41,800 story here. Again, I'm I'm really not 487 00:26:41,800 --> 00:26:46,520 holding my breath on it, but this is some positive momentum 488 00:26:46,720 --> 00:26:49,360 that the clarity Act will pass. And the only reason most 489 00:26:49,360 --> 00:26:51,960 bitcoiners probably want the clarity Act is the whole 490 00:26:52,240 --> 00:26:56,600 regulatory, you know, rules of the road here is most likely, or 491 00:26:56,600 --> 00:27:00,000 at least this is the thesis going to attract more capital 492 00:27:00,000 --> 00:27:02,680 into Bitcoin. The idea is that a lot of 493 00:27:02,680 --> 00:27:05,680 institutions and investors are sitting on the sideline until 494 00:27:05,680 --> 00:27:07,360 they get some clear rules of the road. 495 00:27:08,000 --> 00:27:11,320 Now, obviously there's other factors playing out right now, 496 00:27:11,320 --> 00:27:13,480 which is of course, the war in the Middle East. 497 00:27:14,000 --> 00:27:16,920 I think a lot of investors, a lot of people that are looking 498 00:27:16,920 --> 00:27:19,880 where to deploy their capital are sitting on the sidelines. 499 00:27:19,880 --> 00:27:23,480 They're not really sure, but the markets are reacting very 500 00:27:23,480 --> 00:27:26,280 interesting. They they've been whipsawing in 501 00:27:26,280 --> 00:27:28,880 equities, in gold and silver this morning. 502 00:27:28,880 --> 00:27:33,720 Almost everything is up. So it's very interesting when 503 00:27:33,720 --> 00:27:37,560 you try to understand the investing mentality here. 504 00:27:37,800 --> 00:27:43,240 It's like, is our investors pricing in the idea that we're 505 00:27:43,240 --> 00:27:44,760 not going to be in a forever war? 506 00:27:44,760 --> 00:27:50,400 Are they finally fully digesting the fact that we are in a new 507 00:27:50,400 --> 00:27:52,800 war in the Middle East, even though Trump said we weren't 508 00:27:52,800 --> 00:27:56,080 going to be there? So I think we are starting to 509 00:27:56,080 --> 00:28:00,520 see that people are currently at least going through the 1st 510 00:28:00,520 --> 00:28:03,080 phases of deploying their capital where they think it it 511 00:28:03,080 --> 00:28:05,960 needs to go so that they can get a really good return. 512 00:28:07,760 --> 00:28:10,000 So we'll see. We're we're definitely on the 513 00:28:10,000 --> 00:28:12,400 sidelines, us bit corners that are all in. 514 00:28:12,400 --> 00:28:15,520 We're just kind of sitting here like twiddling our thumbs just 515 00:28:15,520 --> 00:28:18,840 like, OK, can something happen? Can something finally happen? 516 00:28:19,120 --> 00:28:21,600 Because it's been slow, it's been boring. 517 00:28:21,880 --> 00:28:24,040 The news has been pretty slow recently. 518 00:28:24,040 --> 00:28:27,200 And then this morning we get a bunch of news happening and 519 00:28:27,200 --> 00:28:31,680 you're like, OK, well, maybe maybe the first, you know, first 520 00:28:31,800 --> 00:28:34,040 month or two of the year was very slow. 521 00:28:34,040 --> 00:28:37,040 And maybe now we're going to ramp up the news cycle and a 522 00:28:37,040 --> 00:28:40,120 bunch of things are going to happen just consecutively 523 00:28:40,120 --> 00:28:44,040 back-to-back to back. Now, I, I don't have any insight 524 00:28:44,040 --> 00:28:47,040 if we're going to get anything big happening this week, but it 525 00:28:47,040 --> 00:28:50,760 does seem like the, you know, the actions around Bitcoin are, 526 00:28:50,840 --> 00:28:52,600 are starting to ramp up a little bit. 527 00:28:52,600 --> 00:28:55,640 So I wouldn't be surprised if we start seeing some fireworks 528 00:28:55,640 --> 00:28:57,960 happening in Bitcoin, whether it's big news story, whether 529 00:28:57,960 --> 00:29:00,880 it's the price start going up. Though I did ask you guys 530 00:29:00,880 --> 00:29:03,640 yesterday, do you guys think this is a suckers rally? 531 00:29:03,800 --> 00:29:06,560 I think a lot of us are thinking it is a suckers rally. 532 00:29:06,880 --> 00:29:08,800 Obviously, I'm, I'm on the opposite side. 533 00:29:08,800 --> 00:29:12,120 I'm like, Nah, bro, I told you the bear market wasn't going to 534 00:29:12,120 --> 00:29:14,080 go to 40. KII told you we were going to go 535 00:29:14,080 --> 00:29:15,480 sideways. Yes, it went lower than I 536 00:29:15,480 --> 00:29:18,680 thought it was. So I'm I'm still, I'm still 537 00:29:18,680 --> 00:29:20,760 unsure. I'm 5050 right now. 538 00:29:20,920 --> 00:29:24,520 I'm prepared for the worst, but I am starting to get hopeful. 539 00:29:24,520 --> 00:29:27,600 I am starting to get a little bullish that hey, maybe this 540 00:29:27,600 --> 00:29:31,920 isn't the absolute breakout out of the bear market, but this 541 00:29:31,920 --> 00:29:34,400 could be the beginning of the end of the bear market. 542 00:29:35,400 --> 00:29:38,360 If that's the case, then we might not have to wait till 543 00:29:38,360 --> 00:29:41,280 October to get a bottom here. We might not even have to wait 544 00:29:41,280 --> 00:29:43,000 till summertime to get a bottom here. 545 00:29:44,440 --> 00:29:47,640 We could start seeing the price action respond very well. 546 00:29:48,200 --> 00:29:51,280 And I, I've been seeing some, some, you know, Bitcoin 547 00:29:51,280 --> 00:29:54,080 influencers saying that Bitcoin always goes up in March and 548 00:29:54,080 --> 00:29:55,440 we're going to crash after March. 549 00:29:56,040 --> 00:29:58,160 That could be the case. This could be the suckers rally. 550 00:29:58,160 --> 00:30:01,280 This, this could be, you know, historically Bitcoin does pretty 551 00:30:01,280 --> 00:30:03,640 well in March. So this could be the fake out 552 00:30:03,640 --> 00:30:06,280 pump and then we dump again. So I'm not going to get too 553 00:30:06,280 --> 00:30:09,760 excited here, but I am starting to get a little more optimistic 554 00:30:09,760 --> 00:30:12,600 about where we currently are in the bear market cycle. 555 00:30:12,880 --> 00:30:16,440 Again, only hindsight will show me whether I was right or wrong. 556 00:30:16,440 --> 00:30:22,040 So look, I, I leave, you know, the optionality of me changing 557 00:30:22,040 --> 00:30:26,080 my opinion as more information comes in, but it, it's looking 558 00:30:26,080 --> 00:30:28,400 pretty good. Again, the biggest surprising 559 00:30:28,400 --> 00:30:32,800 thing for me is 1, how Bitcoin has reacted on the news of a, a 560 00:30:32,800 --> 00:30:36,040 new war in the Middle East. And then two, Trump talking 561 00:30:36,040 --> 00:30:40,000 about the clarity act while he's in the middle of operation Epic 562 00:30:40,000 --> 00:30:43,000 Fury, you know, continuing this mission in the Middle East. 563 00:30:43,000 --> 00:30:46,680 It's just the, the coincidences, the timing, however you want to 564 00:30:46,680 --> 00:30:50,080 look at this, It's all very interesting from my opinion. 565 00:30:50,680 --> 00:30:53,800 It's starting to make the case like, oh, OK, maybe maybe the 566 00:30:53,800 --> 00:30:56,840 bear market wasn't as bad as we all expected it to be, which is 567 00:30:56,840 --> 00:30:58,400 kind of what a lot of people been saying. 568 00:30:58,400 --> 00:31:01,880 No 8, you know, no blow off top, therefore no 80% correction 569 00:31:02,960 --> 00:31:06,600 could be playing out like this. So the point remains the same 570 00:31:06,880 --> 00:31:09,480 for you guys that are just stacking Bitcoin continuously, 571 00:31:09,480 --> 00:31:11,920 that don't look at the price. This really doesn't change 572 00:31:11,920 --> 00:31:14,400 anything. But the narratives around 573 00:31:14,400 --> 00:31:17,280 Bitcoin, the, the, the happenings, the news stories 574 00:31:17,280 --> 00:31:20,280 that are happening around Bitcoin, it is starting to, you 575 00:31:20,280 --> 00:31:22,400 know, change course. It is starting to feel a little 576 00:31:22,400 --> 00:31:24,200 more positive for the Bitcoin industry. 577 00:31:25,000 --> 00:31:27,640 Maybe the end of this year we will be seeing some fireworks. 578 00:31:27,640 --> 00:31:31,640 It's all I'm saying, May maybe the doom and gloom 579 00:31:31,640 --> 00:31:35,760 demoralization of Bitcoiners, maybe we saw the worst behind 580 00:31:35,760 --> 00:31:37,920 us. It's all I'm saying here, guys. 581 00:31:37,920 --> 00:31:41,520 That's all I'm going to say. OK, now for the rest of the 582 00:31:41,520 --> 00:31:43,560 show. I do have an interesting clip 583 00:31:43,560 --> 00:31:48,760 coming out of Fox News in regards to the, you know, free 584 00:31:48,760 --> 00:31:51,800 Iran. What what happens if the Trump 585 00:31:51,800 --> 00:31:54,640 administration is successful in Iran and what that means for 586 00:31:54,640 --> 00:31:57,040 Bitcoin. Again, shouts out to Charles 587 00:31:57,040 --> 00:31:59,600 Payne, another really great Bitcoin podcaster. 588 00:32:00,600 --> 00:32:02,880 He's not really, he's on Fox News, but he's pro Bitcoin. 589 00:32:03,120 --> 00:32:06,880 And then we got some interesting news coming out of the ECB. 590 00:32:07,240 --> 00:32:10,360 My girl, Chrissy Lagarde, she's getting very scared here and 591 00:32:10,360 --> 00:32:14,000 saying the obvious out loud. She's saying the quiet parts out 592 00:32:14,000 --> 00:32:17,560 loud, guys, maybe we are winning. 593 00:32:17,560 --> 00:32:20,680 Maybe this is what winning feels like and then like I said a 594 00:32:20,680 --> 00:32:25,080 minute ago to in the culture, I am going to analyze a little bit 595 00:32:25,120 --> 00:32:29,320 of how Bitcoin has reacted in regards to all of these 596 00:32:29,320 --> 00:32:33,560 geopolitical macro events. And you know, spoiler, Bitcoin's 597 00:32:33,560 --> 00:32:36,440 still doing the best in regards to all of the crazy stuff 598 00:32:36,440 --> 00:32:38,560 happening. So first commercial break, I'll 599 00:32:38,560 --> 00:32:42,760 be right back after this announcement or you know, 600 00:32:42,840 --> 00:32:44,960 commercial from our partners one second. 601 00:32:46,800 --> 00:32:50,360 Today's episode is brought to you by Bitcoin Well Infinite. 602 00:32:50,480 --> 00:32:53,280 If you're a serious Bitcoin buyer, you've probably hit the 603 00:32:53,280 --> 00:32:55,880 same wall. Most platforms make you give up 604 00:32:55,880 --> 00:32:58,000 custody just to play by the rules. 605 00:32:58,120 --> 00:33:00,440 Bitcoin Well Infinite fixes that. 606 00:33:00,480 --> 00:33:04,480 They're North America's only publicly traded, non custodial 607 00:33:04,480 --> 00:33:09,240 OTC desk listed on the TSX Venture Exchange, which means 608 00:33:09,240 --> 00:33:12,920 transparent operations and 0 counterparty risk. 609 00:33:13,080 --> 00:33:15,640 You buy Bitcoin, you take immediate control. 610 00:33:15,840 --> 00:33:19,040 Period. 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You can upload your design or 634 00:34:36,480 --> 00:34:40,520 logo and they will laser engrave it on the back of your seed 635 00:34:40,520 --> 00:34:43,080 plate, the opposite side of where the words are. 636 00:34:43,159 --> 00:34:49,080 Stamp your seed on stamps and use promo code simply to get 15% 637 00:34:49,080 --> 00:34:52,280 off anything on the Stamp se-ed.com store. 638 00:34:56,679 --> 00:35:02,200 All right, guys. So Chad, you guys are funny. 639 00:35:02,680 --> 00:35:08,400 The current Bitcoin price is $73,150 per Bitcoin, which is a 640 00:35:08,440 --> 00:35:12,440 42% discount from all time high. The market cap, it's inching 641 00:35:12,440 --> 00:35:15,240 back up guys. We're getting closer to 2 642 00:35:15,240 --> 00:35:17,840 trillion. That $1.3 trillion market cap, 643 00:35:17,840 --> 00:35:21,520 man, that was brutal. It's really making me feel bad 644 00:35:21,520 --> 00:35:23,800 about myself here. We're currently at 1.46 645 00:35:23,800 --> 00:35:25,720 trillion. The block height TikTok next 646 00:35:25,720 --> 00:35:29,400 block, the universal time on planet Earth is the block 647 00:35:29,400 --> 00:35:34,600 height. We are currently at 939,296. 648 00:35:34,920 --> 00:35:37,880 All right guys. So as I was telling you, we are 649 00:35:37,880 --> 00:35:40,680 seeing interesting stuff, some interesting developments. 650 00:35:40,720 --> 00:35:45,960 And you know, what we like to do here on the show a lot is some 651 00:35:45,960 --> 00:35:48,560 days we don't just talk about the news per SE. 652 00:35:49,840 --> 00:35:54,640 We talk about how the corporate press, the propaganda machines 653 00:35:55,480 --> 00:35:59,600 talk about Bitcoin. And obviously for the entire 654 00:35:59,600 --> 00:36:04,920 history of Bitcoin, they usually have a bias bent against 655 00:36:04,920 --> 00:36:08,200 Bitcoin. And only in the last few years 656 00:36:08,280 --> 00:36:11,640 really because of Joe Kernan on Squawk Box and Charles Payne on 657 00:36:11,640 --> 00:36:16,920 Fox News did we see a a more positive view on Bitcoin. 658 00:36:16,920 --> 00:36:20,040 And This is why I call them the Bitcoin podcasters, the best 659 00:36:20,040 --> 00:36:22,720 Bitcoin podcasters. It's, it's really 'cause they 660 00:36:22,720 --> 00:36:26,440 have huge platforms and they obviously are pro Bitcoin. 661 00:36:28,400 --> 00:36:30,480 This clip is pretty interesting though. 662 00:36:31,160 --> 00:36:35,480 From my perspective, I would say maybe it's a little hopium. 663 00:36:35,640 --> 00:36:38,240 It, it, it's, it's a little hopeful. 664 00:36:38,240 --> 00:36:43,080 OK, it, it, I think while the, the, the theory is probably 665 00:36:43,080 --> 00:36:47,160 correct, I think it's assuming a lot. 666 00:36:48,360 --> 00:36:51,520 But nonetheless, the fact that we're hearing this come out on 667 00:36:51,520 --> 00:36:53,960 Fox News is very interesting though. 668 00:36:54,120 --> 00:36:57,240 We, we could, we got to be 100% obvious honest here. 669 00:36:57,520 --> 00:37:00,760 Like in the last few weeks or sorry, the last few days I have 670 00:37:00,760 --> 00:37:05,680 been flipping between CNN, Fox News, CNBC, just to see how each 671 00:37:05,680 --> 00:37:09,280 side is talking about the war in Iran, just to see what 672 00:37:09,280 --> 00:37:10,600 narratives they're talking about. 673 00:37:10,600 --> 00:37:14,120 You know what, what the bias is, who's pro who's, who's for it? 674 00:37:14,520 --> 00:37:16,840 You know who's somewhat neutral on this idea? 675 00:37:17,240 --> 00:37:20,920 Obviously, you could probably guess who's who just based on 676 00:37:20,920 --> 00:37:24,560 what I what I said. And Fox News, obviously they've 677 00:37:24,560 --> 00:37:27,000 been very favorable towards the war in Iran. 678 00:37:27,160 --> 00:37:30,440 So this is a favorable take on the war in Iran. 679 00:37:30,680 --> 00:37:33,920 But they brought in an interesting take here, which is 680 00:37:33,920 --> 00:37:35,920 Bitcoin. And we're seeing this 681 00:37:35,920 --> 00:37:38,960 conversation happen on Fox News, on the public press, the 682 00:37:38,960 --> 00:37:42,760 corporate press, this idea of like, wait, and actually me and 683 00:37:42,760 --> 00:37:46,480 Sophie were talking about this. We were, we were joking about a 684 00:37:46,480 --> 00:37:48,680 title for a show. And it's like, is World War 685 00:37:48,680 --> 00:37:52,120 three actually good for Bitcoin? Like how come Bitcoin's pumping? 686 00:37:52,400 --> 00:37:56,400 Why are we seeing on Fox News they talk favorably about 687 00:37:56,400 --> 00:38:01,960 Bitcoin in the context of a war. I know Bitcoin in from our 688 00:38:01,960 --> 00:38:05,800 perspective, one of our big memes is this idea of Bitcoin 689 00:38:05,800 --> 00:38:10,480 being anti war Fiat being pro war Fiat is literally the money 690 00:38:10,480 --> 00:38:12,920 of war. They, they took a pretty 691 00:38:12,920 --> 00:38:16,080 interesting, interesting take on, on this clip on Fox News. 692 00:38:16,080 --> 00:38:20,440 So I'm going to play again. You know, I think directionally 693 00:38:20,440 --> 00:38:24,280 it's probably correct in the sense of like, yeah, I, I can 694 00:38:24,280 --> 00:38:26,600 see this playing out. I think it's, it's a bit 695 00:38:26,600 --> 00:38:29,360 hopeful, but let me play the clip and then and then I'll I'll 696 00:38:29,360 --> 00:38:34,560 gauge your guys's opinion on it. 87% of the Iranians inside Iran 697 00:38:34,800 --> 00:38:40,080 and 93% of Iranians outside Iran are ready to topple that down 698 00:38:40,080 --> 00:38:42,160 this region. We have a leader, Reza Pahlavi, 699 00:38:42,280 --> 00:38:45,080 who's going to lead the transition into a free Iran. 700 00:38:45,080 --> 00:38:49,040 And after that, Oh my gosh, it is going to be a new day in the 701 00:38:49,040 --> 00:38:52,320 world. Less Fewer proxy world wars, 702 00:38:52,600 --> 00:38:56,400 less terrorism. A new ally for the US with a lot 703 00:38:56,400 --> 00:38:58,040 of energy. And that's why you talk about a 704 00:38:58,040 --> 00:39:00,440 freedom run with the big picture because everyone's looking right 705 00:39:00,440 --> 00:39:02,120 now at oil prices. You're like, forget about about 706 00:39:02,120 --> 00:39:03,360 that. Let's look at the big, big 707 00:39:03,360 --> 00:39:04,600 picture. Good coin. 708 00:39:04,800 --> 00:39:08,120 I just talked about it with David forming a bottom here. 709 00:39:08,120 --> 00:39:10,760 Are you buying Bitcoin here? So here's another I'm going to 710 00:39:10,760 --> 00:39:13,880 actually bring back Iran. Islamic regime actually controls 711 00:39:13,880 --> 00:39:16,880 2 to 5% of Bitcoin hash rate globally. 712 00:39:17,200 --> 00:39:22,240 So because it's again the energy, so supply of Bitcoin in 713 00:39:22,240 --> 00:39:24,280 the free Iran is potentially going to go down. 714 00:39:24,280 --> 00:39:27,240 What does that mean? Low supply for the market, low 715 00:39:27,240 --> 00:39:29,800 supply, high demand. So yes, I'm buying. 716 00:39:31,200 --> 00:39:32,040 Love it. Love it. 717 00:39:32,960 --> 00:39:35,160 Yeah. You know, more demand usually 718 00:39:35,160 --> 00:39:37,520 means Bitcoin price goes up again. 719 00:39:37,920 --> 00:39:41,000 The framing is the most interesting aspect of this. 720 00:39:41,000 --> 00:39:45,240 They're on Fox News, historically right leaning. 721 00:39:45,240 --> 00:39:49,920 They are pro, pro whatever the Republican president does. 722 00:39:49,920 --> 00:39:53,720 So they are painting the war in Iran very favorably. 723 00:39:53,920 --> 00:39:57,120 You know, a free Iran is kind of the idea. 724 00:39:57,120 --> 00:40:00,920 If you guys remember what Trump said in regards to why they did 725 00:40:00,920 --> 00:40:04,960 Operation Epic Fury, it was essentially to destroy the 726 00:40:04,960 --> 00:40:07,640 leadership there and let the people, you know, rise, let the 727 00:40:07,640 --> 00:40:09,160 people take control of their government. 728 00:40:10,760 --> 00:40:13,720 There's still a lot of debate if whether that is actually going 729 00:40:13,720 --> 00:40:17,480 to happen, that they are trying to do the Venezuela model on 730 00:40:17,480 --> 00:40:21,560 Iran, though, apparently, you know, wasn't able to happen over 731 00:40:21,560 --> 00:40:23,160 the weekend. It wasn't able to happen from 732 00:40:23,160 --> 00:40:26,040 Friday night to Monday morning. We're there now. 733 00:40:26,040 --> 00:40:28,480 And the narratives that we are hearing from the Trump 734 00:40:28,480 --> 00:40:32,400 administration is, is a little conflicted. 735 00:40:32,680 --> 00:40:35,480 They started off with, hey, this is going to be 4 to 5 days and 736 00:40:35,480 --> 00:40:37,200 then it's going to be 4 to 6 months. 737 00:40:37,480 --> 00:40:42,200 And now the the most recent headlines are like, we don't 738 00:40:42,200 --> 00:40:43,600 know if we're going to be there for a little bit. 739 00:40:43,600 --> 00:40:45,440 We might be there for a lot longer. 740 00:40:45,720 --> 00:40:48,080 Trump is even saying forever wars now. 741 00:40:48,480 --> 00:40:53,840 So look, the idea, at least the official narrative is like, this 742 00:40:53,840 --> 00:40:55,440 is going to be short. This is going to be quick. 743 00:40:55,560 --> 00:41:00,400 We will be seeing a free Iran and and that's at least what 744 00:41:00,400 --> 00:41:03,320 they want to happen. Now whether that will happen is 745 00:41:03,320 --> 00:41:04,880 a totally different conversation. 746 00:41:04,880 --> 00:41:07,720 But again, bringing the Bitcoins narrative back in here, the 747 00:41:07,720 --> 00:41:11,040 Bitcoin story of this is they're on Fox News talking about, hey, 748 00:41:11,040 --> 00:41:15,720 a free Iran will obviously benefit Bitcoin in in a few 749 00:41:15,720 --> 00:41:17,440 ways. The people will be able to save 750 00:41:17,440 --> 00:41:19,720 in Bitcoin. As we saw when I showed you guys 751 00:41:19,720 --> 00:41:24,120 the chart yesterday, since the war or actually preceding the 752 00:41:24,120 --> 00:41:28,800 war, the build up to the war, we are seeing a lot of money on 753 00:41:29,120 --> 00:41:33,360 Iranian exchanges or from Iranian citizens flowing into 754 00:41:33,360 --> 00:41:36,800 Bitcoin and we're seeing that Bitcoin leave the exchanges. 755 00:41:37,040 --> 00:41:41,520 So the Bitcoin narrative of when you need Bitcoin because of 756 00:41:41,520 --> 00:41:44,600 geopolitical uncertainty, because you maybe don't trust 757 00:41:44,600 --> 00:41:47,600 your government, because you know when there is a war, it's 758 00:41:47,600 --> 00:41:49,080 hard to get your money out of the banks. 759 00:41:49,080 --> 00:41:53,640 We are seeing that flight to safety into Bitcoin as 760 00:41:53,640 --> 00:41:56,840 Bitcoiners have always been saying this was going to happen. 761 00:41:57,040 --> 00:42:00,000 It's happening now. The interesting take on this is 762 00:42:00,000 --> 00:42:02,680 like, hey, there's a lot of energy, of course, in the Middle 763 00:42:02,680 --> 00:42:04,520 East. They do have a significant 764 00:42:04,520 --> 00:42:07,840 amount of hash rate. Now, will that increase if there 765 00:42:07,840 --> 00:42:11,640 is a free Iran or further, will the proliferation of Bitcoin 766 00:42:11,640 --> 00:42:16,400 increase in the country? Once people to understand the 767 00:42:16,400 --> 00:42:20,000 power of Bitcoin, that idea that, hey, you don't have to 768 00:42:20,000 --> 00:42:22,400 trust the banks, you don't have to trust the traditional banking 769 00:42:22,400 --> 00:42:23,880 system. All you have to do is get money 770 00:42:23,880 --> 00:42:25,840 into it, take it off the exchange. 771 00:42:26,080 --> 00:42:29,640 So if this does play out exactly like the Trump administration 772 00:42:29,640 --> 00:42:36,040 views it, well, a short term free Iran, then you could kind 773 00:42:36,040 --> 00:42:40,160 of venture to guess or at least speculate that Iran might become 774 00:42:40,440 --> 00:42:43,800 a a hotbed for or maybe that's not the best and they might 775 00:42:43,800 --> 00:42:50,240 become a a perfect soil for a circular economy to build in 776 00:42:50,240 --> 00:42:52,840 Iran. Now, that is the fabled, you 777 00:42:52,840 --> 00:42:56,360 know, moving goal post that Bitcoiners always like to talk 778 00:42:56,360 --> 00:43:00,320 about this idea that true Bitcoin adoption is not just 779 00:43:00,320 --> 00:43:03,120 about the price going up, but it's people actually using 780 00:43:03,120 --> 00:43:05,680 Bitcoin. And by that they mean using 781 00:43:05,680 --> 00:43:08,120 Bitcoin as money. Though I would argue what we're 782 00:43:08,120 --> 00:43:11,800 seeing from the data is Iranians actually using Bitcoin as a 783 00:43:11,800 --> 00:43:15,480 flight to safety, as a store of value, as something that if you 784 00:43:15,480 --> 00:43:18,520 do need to move, you put it in Bitcoin. 785 00:43:18,520 --> 00:43:21,720 And it's a lot easier to move cross-border than, you know, 786 00:43:21,960 --> 00:43:26,400 say, a hyperinflating currency or gold or jewelry or whatever 787 00:43:26,400 --> 00:43:30,000 it is. This is the use case of Bitcoin 788 00:43:30,200 --> 00:43:34,880 happening, being tried, being tested and fully vindicated in 789 00:43:34,880 --> 00:43:38,240 real time. You actually love to see it. 790 00:43:38,360 --> 00:43:41,520 It is. It is a a bit bittersweet 791 00:43:41,520 --> 00:43:44,960 considering the chaos and the turmoil that's happening over 792 00:43:44,960 --> 00:43:47,240 there. But this is what Bitcoiners have 793 00:43:47,240 --> 00:43:50,640 been saying for a long time. This is why you need Bitcoin for 794 00:43:50,640 --> 00:43:53,640 anyone out there that's saying there's no use case for Bitcoin. 795 00:43:54,880 --> 00:43:58,000 I don't think this is a better like you couldn't have a better 796 00:43:58,000 --> 00:44:03,720 example than to be like, look, this is on the ground real time 797 00:44:04,000 --> 00:44:08,440 use of Bitcoin that no other money in the world can even come 798 00:44:08,440 --> 00:44:12,000 close to. It's, it's honestly, again, it's 799 00:44:12,000 --> 00:44:15,520 bittersweet and it sounds kind of messed up to say, but this 800 00:44:15,520 --> 00:44:18,760 is, this is great to see. You'd love to see that. 801 00:44:18,760 --> 00:44:20,880 Yes, there is turmoil in the Middle East. 802 00:44:21,160 --> 00:44:26,880 Yes, you the, the Iranian rial is absolutely hyperinflating 803 00:44:26,880 --> 00:44:30,320 currently and we are seeing a flight to safety to Bitcoin. 804 00:44:33,960 --> 00:44:36,960 Anyone that says there's no use case for Bitcoin, all you're 805 00:44:36,960 --> 00:44:40,520 doing is hoarding Bitcoin. I this this might be one of 806 00:44:40,520 --> 00:44:42,680 those new stories to really pull on their heartstrings. 807 00:44:42,680 --> 00:44:47,280 Now, you know, not to say that we need to emotionally 808 00:44:47,280 --> 00:44:53,080 manipulate everyone to buy into Bitcoin, but emotionally 809 00:44:53,080 --> 00:44:59,400 persuasive data points do get people to start to change their 810 00:44:59,400 --> 00:45:01,960 tune around Bitcoin. So it is a very interesting 811 00:45:01,960 --> 00:45:06,080 development to just see that Fox News talking about the war, 812 00:45:06,080 --> 00:45:10,120 they're talking about Bitcoin being a use case to offset the 813 00:45:10,120 --> 00:45:13,800 troubles of the Iranian people. It's happening, guys. 814 00:45:13,800 --> 00:45:17,280 It really is happening. Now I know I've been critical. 815 00:45:17,280 --> 00:45:20,920 I've been cynical on the idea of like, if this is what winning 816 00:45:20,920 --> 00:45:23,760 feels like, it doesn't feel that good. 817 00:45:23,760 --> 00:45:28,720 OK, I I've been on that boat. I am, I am on that boat. 818 00:45:29,280 --> 00:45:34,040 But seeing these data points are seeing these news stories, 819 00:45:34,040 --> 00:45:37,960 seeing this happen in real time, it does make me feel a little 820 00:45:37,960 --> 00:45:39,880 more optimistic about where we're going. 821 00:45:40,080 --> 00:45:44,960 It does make me, you know, feel less of a doomer, less, you 822 00:45:44,960 --> 00:45:48,240 know, beat down, less demoralized because Bitcoin is 823 00:45:48,240 --> 00:45:50,600 working exactly as it's been designed. 824 00:45:50,600 --> 00:45:55,200 As we've all been saying, it's doing exactly as it should be 825 00:45:55,320 --> 00:45:58,440 when people need it most. And that's probably the biggest 826 00:45:58,440 --> 00:46:00,880 take away for Bitcoin. Yes, you know, we want the 827 00:46:00,880 --> 00:46:04,160 Bitcoin price to run. We want Bitcoin to go up. 828 00:46:04,840 --> 00:46:10,160 We personally, I feel cheated by not having you know, number go 829 00:46:10,160 --> 00:46:14,000 up in 2025, but Bitcoin is winning. 830 00:46:14,000 --> 00:46:17,600 People are using Bitcoin when they need it and that is one of 831 00:46:17,600 --> 00:46:20,760 those narratives or rather one of those memes, those rhetorical 832 00:46:20,760 --> 00:46:22,320 tools that bitcoiners have been using. 833 00:46:22,320 --> 00:46:26,160 It's hey, like bitcoins not going away, TikTok next block. 834 00:46:26,400 --> 00:46:30,360 Bitcoin will be there for you when you need it most and it's 835 00:46:30,360 --> 00:46:32,600 happening guys. So there is Silver Linings 836 00:46:32,600 --> 00:46:34,880 throughout all of the crazy stuff that we're seeing in the 837 00:46:34,880 --> 00:46:37,080 world right now. There is a silver lining 838 00:46:37,080 --> 00:46:43,560 starting off 2026. Maybe, maybe, just maybe, I'm 839 00:46:44,280 --> 00:46:45,920 going to have to be a little more stoic here. 840 00:46:45,920 --> 00:46:49,520 You know, I'm I I can't let my emotions run with the price with 841 00:46:49,520 --> 00:46:52,680 the headlines. This is a bittersweet feel good 842 00:46:52,680 --> 00:46:56,240 news story in my opinion. And hey, bitcoins working like 843 00:46:56,240 --> 00:46:59,600 we we thought it would all right guys, this one's going to be a 844 00:46:59,600 --> 00:47:01,520 little fun. I actually here's a here. 845 00:47:01,520 --> 00:47:05,080 There was a good comment in here by one of one of our friends in 846 00:47:05,080 --> 00:47:07,560 the chat. Let me let me just say this 847 00:47:07,560 --> 00:47:12,960 comment before, if I can find it, before I move into, yeah, 848 00:47:12,960 --> 00:47:16,840 here we go, our boy Winsome. And I'm saying this because I 849 00:47:16,840 --> 00:47:20,920 think it sets a good context for the ECB news that we're going to 850 00:47:20,920 --> 00:47:24,440 see winsome hacks goes if you steal something, you end up not 851 00:47:24,440 --> 00:47:27,840 being allowed to do certain jobs, not when you're Lagarde's 852 00:47:27,840 --> 00:47:29,840 social class. So just just keep that little 853 00:47:29,840 --> 00:47:34,800 troll in mind while we talk about the ECB in the next 854 00:47:34,800 --> 00:47:35,960 segment. I'll be right back. 855 00:47:37,840 --> 00:47:41,040 I want to give a shout out to our partner Leaden, the leader 856 00:47:41,080 --> 00:47:44,720 in Bitcoin Back Loans unlock the liquidity in your Bitcoin 857 00:47:44,720 --> 00:47:46,800 without having to sell your Bitcoin. 858 00:47:47,040 --> 00:47:51,320 They've issued $9 billion in loans to over 10,000 customers 859 00:47:51,520 --> 00:47:54,400 since 2018. 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So a new European Central Bank 901 00:50:21,960 --> 00:50:28,040 paper, dropped research paper and the short of it, and I will 902 00:50:28,040 --> 00:50:32,320 read just a little bit of it, but the short of it is the ECB 903 00:50:32,320 --> 00:50:36,040 dropped a paper warning that growing stablecoin adoption 904 00:50:36,040 --> 00:50:39,400 could pull deposits out of banks, constrained lending and 905 00:50:39,400 --> 00:50:43,480 weaken its ability to transmit money, transmit monetary policy 906 00:50:44,120 --> 00:50:47,440 with the risk rising sharply as adoption scale. 907 00:50:48,320 --> 00:50:50,360 It's almost like that's the point, right? 908 00:50:50,480 --> 00:50:55,600 Like I, I look Chrissy or ECB, she didn't write it. 909 00:50:55,600 --> 00:50:58,480 It's like, you know, it's almost like that's the point. 910 00:50:58,480 --> 00:51:00,880 It's almost like you're pointing out the obvious. 911 00:51:01,960 --> 00:51:05,680 Again, we're seeing we, we are seeing a narrative from banks, 912 00:51:05,680 --> 00:51:08,440 central banks, regional banks, you know, the Jamie Diamonds, 913 00:51:08,440 --> 00:51:12,000 the Christie Lagarde, the Jerome Powells of the world really 914 00:51:12,000 --> 00:51:15,320 point out the obvious of what Bitcoin and I guess further 915 00:51:15,320 --> 00:51:18,560 stable coins are doing. And they kind of painted as 916 00:51:18,560 --> 00:51:22,000 like, oh, this is a bad thing and you're just like, no, like 917 00:51:22,000 --> 00:51:25,640 this, like that's the point. This is the point, This is the 918 00:51:25,640 --> 00:51:29,040 point of this. Okay, so anyways, let me let me 919 00:51:29,040 --> 00:51:32,760 pull up the paper real quick here is on the ECB. 920 00:51:32,760 --> 00:51:36,440 This is actually from the European Central Bank. 921 00:51:36,880 --> 00:51:38,920 I went, I went to the government, I searched for it 922 00:51:38,920 --> 00:51:43,680 guys, and it is titled Working Paper Series, Stable Coins and 923 00:51:43,680 --> 00:51:48,560 Monetary Policy transmission. Again, you know, it's 46 pages. 924 00:51:48,680 --> 00:51:52,240 We're not going to read this mumbo jumbo, but I will read a 925 00:51:52,280 --> 00:51:56,640 little bit, not the abstract, but the non-technical summary, 926 00:51:58,000 --> 00:52:01,640 of course, start talking about digital assets and how people 927 00:52:01,640 --> 00:52:06,600 are starting to use it and how, you know, the central bank might 928 00:52:06,600 --> 00:52:08,880 need to update their infrastructure. 929 00:52:08,880 --> 00:52:13,320 At the very least, keep in mind that this is a phenomenon that's 930 00:52:13,320 --> 00:52:16,360 happening. So here's the first point with 931 00:52:16,360 --> 00:52:19,080 the question How do stable coins affect banks? 932 00:52:19,480 --> 00:52:22,640 The first key finding is that growing use of stable coins can 933 00:52:22,640 --> 00:52:25,920 lead people and firms to move money out of the traditional 934 00:52:25,920 --> 00:52:28,160 bank deposits and into digital assets. 935 00:52:28,640 --> 00:52:31,960 Again, dude, the absolute obvious like these guys get paid 936 00:52:31,960 --> 00:52:33,520 to do. I thought these guys were smart. 937 00:52:33,520 --> 00:52:35,280 What are we doing here? And it goes. 938 00:52:35,280 --> 00:52:39,360 Banks rely heavily on deposits as a stable and low cost source 939 00:52:39,360 --> 00:52:43,120 of funding to support lending the households and businesses. 940 00:52:43,280 --> 00:52:46,160 When deposits decline, banks may be forced to rely more on 941 00:52:46,160 --> 00:52:49,400 wholesale or market based funding, which is typically more 942 00:52:49,400 --> 00:52:52,800 expensive and less stable. Our analysis shows that 943 00:52:52,800 --> 00:52:55,720 increasing interest in and attention towards stable coins 944 00:52:55,720 --> 00:52:59,440 are associated with a measurable decline in retail bank deposits 945 00:52:59,440 --> 00:53:01,880 and a reduction in bank lending to firms. 946 00:53:02,240 --> 00:53:05,080 In other words, stablecoins can reduce the amount of credit 947 00:53:05,080 --> 00:53:06,880 banks provide to the real economy. 948 00:53:07,240 --> 00:53:10,200 Importantly, these effects are non linear and depend critically 949 00:53:10,200 --> 00:53:13,280 on the scale of stablecoin adoption, their design features 950 00:53:13,280 --> 00:53:17,640 and their regulatory treatment. Yeah, that is literally the 951 00:53:17,640 --> 00:53:21,480 point. Bitcoin, and I guess to some 952 00:53:21,480 --> 00:53:27,280 extent stablecoins do limit your ability to create money out of 953 00:53:27,280 --> 00:53:30,440 thin air. This is the point of all this. 954 00:53:31,360 --> 00:53:35,160 If you don't understand how banking works, very simply, and 955 00:53:35,160 --> 00:53:38,720 maybe this is too simple, but when you give your money to a 956 00:53:38,760 --> 00:53:43,480 bank, they take your money. It doesn't sit in an account 957 00:53:43,480 --> 00:53:45,760 untouched. They take your money and they 958 00:53:45,760 --> 00:53:49,400 lend that money so that they can make a return, therefore 959 00:53:49,400 --> 00:53:53,440 expanding the money supply, creating literally money out of 960 00:53:53,440 --> 00:53:55,840 thin air. You got to remember, debt is 961 00:53:55,840 --> 00:53:57,520 money. Those dollar bills you have in 962 00:53:57,520 --> 00:54:00,000 your pocket, that is just an IOU. 963 00:54:00,000 --> 00:54:03,120 That is just a claim on debt. It's not real. 964 00:54:03,320 --> 00:54:07,920 It's literally just a paper IOU saying, hey, this was created 965 00:54:07,920 --> 00:54:10,240 out of thin air. This is someone's debt that we 966 00:54:10,240 --> 00:54:12,680 are monitoring advertising so that you can use it as a 967 00:54:12,680 --> 00:54:15,960 currency. Here we have the ECB report 968 00:54:16,120 --> 00:54:20,760 stating the absolute obvious. It's like it's yes, this is the 969 00:54:20,760 --> 00:54:23,320 point. At at least we can all agree on 970 00:54:23,520 --> 00:54:25,560 that. This is the war going on. 971 00:54:25,800 --> 00:54:29,080 Hence this whole theme of today's show is very simple. 972 00:54:29,080 --> 00:54:30,840 And someone in the chat said it earlier. 973 00:54:30,840 --> 00:54:34,960 I think it was down under Blues. He's like, this is a war with 974 00:54:34,960 --> 00:54:37,920 Fiat. This is Bitcoin versus Fiat 975 00:54:37,920 --> 00:54:40,040 currency. This is a monetary war 976 00:54:40,040 --> 00:54:42,800 happening. It's not kinetic, it's not 977 00:54:42,800 --> 00:54:46,200 violent. It is an ideological information 978 00:54:46,200 --> 00:54:49,120 war. But finally we're seeing the ECB 979 00:54:49,320 --> 00:54:52,840 acknowledge what is going on. Yes, if people start using 980 00:54:52,840 --> 00:54:56,640 Bitcoin, you will have less money to create more debt. 981 00:54:56,880 --> 00:54:59,200 That is the literal point of this. 982 00:54:59,440 --> 00:55:02,800 That is what we're trying to do. I'm glad we can agree on the 983 00:55:02,800 --> 00:55:05,480 terms. Finally, though of course, this 984 00:55:05,600 --> 00:55:09,640 this report, it's making this seem like a bad thing, which in 985 00:55:09,640 --> 00:55:13,080 in fact is really a good thing. Now going further goes, what 986 00:55:13,080 --> 00:55:14,520 does this mean for monetary policy? 987 00:55:14,960 --> 00:55:18,120 The second finding concerns how monetary policy works in the 988 00:55:18,120 --> 00:55:20,560 euro area. Banks play a central role in 989 00:55:20,560 --> 00:55:23,440 transmitting interest rate changes to households and firms. 990 00:55:23,640 --> 00:55:26,960 When deposits shift into stable coins, or from our perspective 991 00:55:26,960 --> 00:55:30,000 into Bitcoin, this transmission mechanism changes. 992 00:55:30,200 --> 00:55:32,680 We find that stable coin adoptions interfere with 993 00:55:32,680 --> 00:55:34,920 multiple monetary policy transmission channels, 994 00:55:34,920 --> 00:55:38,360 potentially weakening the predictability of policy 995 00:55:38,360 --> 00:55:43,120 actions. I mean, maybe just like, you 996 00:55:43,120 --> 00:55:47,480 know, a small group of people shouldn't be in control of 997 00:55:47,480 --> 00:55:51,880 monetary policy. Maybe you want to use a neutral 998 00:55:51,880 --> 00:55:55,200 scarce money that no one controls and you know, the 999 00:55:55,200 --> 00:56:01,080 market will very organically get to the interest rates that are 1000 00:56:01,080 --> 00:56:03,760 fair for the market. But no, you know, let's, let's 1001 00:56:03,760 --> 00:56:07,880 blame Bitcoin, let's blame stablecoin for the fact that no 1002 00:56:07,880 --> 00:56:12,560 one has the right insight to accurately create the interest 1003 00:56:12,560 --> 00:56:16,760 rates that the economy needs. Maybe we should outsource that 1004 00:56:16,760 --> 00:56:18,680 to the market. I don't know, I maybe I'm an 1005 00:56:18,680 --> 00:56:21,640 extremist. Maybe I'm, you know, too far 1006 00:56:21,640 --> 00:56:23,200 gone down the Bitcoin rabbit hole. 1007 00:56:23,200 --> 00:56:25,840 Maybe I've drinking the orange kool-aid a little too much. 1008 00:56:25,840 --> 00:56:30,360 But from my perspective, sounds a lot better than trusting a 1009 00:56:30,360 --> 00:56:34,720 small group of people that are literally fleecing everyone 1010 00:56:34,720 --> 00:56:39,520 stealing from you and saying hey, we're doing we're doing the 1011 00:56:39,800 --> 00:56:42,440 doing you the favor. We're hey, we're here to protect 1012 00:56:42,440 --> 00:56:45,720 you, the little guy. Where, where will you need us to 1013 00:56:45,720 --> 00:56:50,720 push back the flood of you losing your wealth? 1014 00:56:50,920 --> 00:56:55,040 Hence why I brought up that that comment by Winsome is like 1015 00:56:55,040 --> 00:56:57,280 we're, we're getting to the point where they're like, look, 1016 00:56:57,880 --> 00:57:02,000 if people start using Bitcoin and, and I'm, I'm, I'm 1017 00:57:02,000 --> 00:57:05,240 paraphrasing here, this is, this is Opti's paraphrasing of what 1018 00:57:05,240 --> 00:57:09,320 the ECB is saying, that they're basically saying, hey, if you 1019 00:57:09,320 --> 00:57:12,280 use Bitcoin or if you use stablecoin, we'll use their 1020 00:57:12,280 --> 00:57:15,760 example. If you use stablecoins, then you 1021 00:57:16,000 --> 00:57:22,120 are going to distort our ability to take from you more. 1022 00:57:23,760 --> 00:57:26,080 I don't know, it sounds like a good thing to me personally. 1023 00:57:26,440 --> 00:57:30,560 So I, I do, I look, I'm, I'm honestly completely on board 1024 00:57:30,560 --> 00:57:33,840 with their, their whole analysis here. 1025 00:57:33,840 --> 00:57:36,200 I, I'm totally on board with what the ECB is saying. 1026 00:57:36,200 --> 00:57:37,920 For once. They're like, yeah, you're kind 1027 00:57:37,920 --> 00:57:41,120 of, you're kind of finally saying the truth out loud, kind 1028 00:57:41,120 --> 00:57:43,720 of like we're finally on board with the same ideas of what 1029 00:57:43,720 --> 00:57:48,960 we're actually doing here. OK, now one more point. 1030 00:57:49,240 --> 00:57:53,240 And then I, I will, you know, get a, get a funny, ooh, look at 1031 00:57:53,240 --> 00:57:56,080 that. Get a funny, you know, breakdown 1032 00:57:56,080 --> 00:57:58,520 from a Bitcoiner. A fellow bitcoiner. 1033 00:57:59,200 --> 00:58:01,560 Here we go. Why does the currency of stable 1034 00:58:01,560 --> 00:58:04,200 coins matter? The third policy relevant 1035 00:58:04,200 --> 00:58:06,720 finding relates to the currency in which stable coins are 1036 00:58:06,720 --> 00:58:09,080 denominated. If stable coins linked to non 1037 00:58:09,080 --> 00:58:12,360 euro currency such as the US dollar where to become widely 1038 00:58:12,360 --> 00:58:15,240 used in the euro area, the risk to monetary policy would 1039 00:58:15,240 --> 00:58:18,560 increase significantly. In such a scenario, changes in 1040 00:58:18,560 --> 00:58:21,240 global financial conditions, foreign monetary policy 1041 00:58:21,240 --> 00:58:24,920 decisions or shifts in investor confidence could directly affect 1042 00:58:24,920 --> 00:58:28,120 liquidity and spending conditions in the euro era area. 1043 00:58:28,120 --> 00:58:30,400 Sorry. Regardless of domestic policy 1044 00:58:30,400 --> 00:58:33,880 decisions, in simple terms, foreign monetary conditions 1045 00:58:33,880 --> 00:58:37,280 could be imported into the euro area through stablecoins. 1046 00:58:37,600 --> 00:58:40,400 This would weaken the central bank's control over financial 1047 00:58:40,400 --> 00:58:43,520 condition. I repeat, weaken the central 1048 00:58:43,520 --> 00:58:47,000 bank's control over financial conditions, reduce the 1049 00:58:47,120 --> 00:58:50,440 effectiveness of traditional monetary policy instruments, and 1050 00:58:50,440 --> 00:58:53,480 make it harder to stabilize inflation and economic activity, 1051 00:58:53,480 --> 00:58:56,640 especially during periods of financial stress. 1052 00:58:56,640 --> 00:59:00,000 And of course, their findings. These findings highlight the 1053 00:59:00,000 --> 00:59:01,880 importance of thoughtful regulation. 1054 00:59:03,240 --> 00:59:05,400 Man, it's honestly, this is beautiful. 1055 00:59:05,400 --> 00:59:07,680 It's a master class. Shouts out to the ECB. 1056 00:59:08,120 --> 00:59:13,960 Absolute master class in, I don't know, information warfare, 1057 00:59:14,280 --> 00:59:17,680 though, as you can see when you read that, you probably get the 1058 00:59:17,680 --> 00:59:20,160 perspective like, Oh yeah, maybe, maybe the stable coin 1059 00:59:20,160 --> 00:59:22,760 things are a bad thing. But when you get the filter, 1060 00:59:22,760 --> 00:59:26,280 when you get the Bitcoin filter through this, you're like, yeah, 1061 00:59:26,280 --> 00:59:28,720 honestly, I kind of totally agree with everything you're 1062 00:59:28,720 --> 00:59:31,120 saying and I'm kind of totally on board with this. 1063 00:59:31,320 --> 00:59:33,960 I totally believe that central banks around the world should 1064 00:59:33,960 --> 00:59:38,120 have less financial control. They should have less financial 1065 00:59:38,120 --> 00:59:40,600 control. I'm like, yeah, that's this is 1066 00:59:40,600 --> 00:59:44,280 great. Now I would go further and I, I 1067 00:59:44,280 --> 00:59:48,560 think really, really the IT should be Bitcoin in here 1068 00:59:48,560 --> 00:59:54,160 instead of stable coins. But as we know, the ECB is very, 1069 00:59:54,760 --> 00:59:57,720 very adamant about them dropping ACBDC. 1070 00:59:58,160 --> 01:00:02,000 And right now stablecoins are the threat to their CBDC system 1071 01:00:02,000 --> 01:00:05,760 because why would you need the ECBCBDC if you could just use a 1072 01:00:05,800 --> 01:00:07,720 stablecoin? One, you're probably going to 1073 01:00:07,720 --> 01:00:11,000 get a better yield on it to the central bank can't cut you off 1074 01:00:11,000 --> 01:00:14,880 whenever they want to. But really in reality, when you 1075 01:00:15,120 --> 01:00:18,760 look at that three paragraphs that I read and you add Bitcoin 1076 01:00:18,760 --> 01:00:23,480 into that instead of stablecoins, that is the real 1077 01:00:23,480 --> 01:00:27,160 play at hand. As the US has done with 1078 01:00:27,160 --> 01:00:31,360 stablecoin regulation, using stablecoins as a Trojan horse 1079 01:00:31,360 --> 01:00:34,120 from my opinion, for Bitcoin to get in, because you can't 1080 01:00:34,120 --> 01:00:37,960 acknowledge stablecoins and not acknowledge or accept Bitcoin, 1081 01:00:38,360 --> 01:00:42,040 at least in some semblance of respect for what Bitcoin is or 1082 01:00:42,040 --> 01:00:45,760 what digital assets are. You're seeing that the ECB is 1083 01:00:45,760 --> 01:00:49,040 doing the opposite. They're using stablecoins as the 1084 01:00:49,040 --> 01:00:52,680 big bad boogeyman. But in reality, it's Bitcoin 1085 01:00:52,760 --> 01:00:56,440 that, that really should be the ire of the ECB. 1086 01:00:56,440 --> 01:00:59,360 But you know, I, I think they're, they're starting to see 1087 01:00:59,360 --> 01:01:02,880 that that probably isn't going to be looked upon favorably. 1088 01:01:03,240 --> 01:01:05,120 And, and personally, I'm, I'm OK with this. 1089 01:01:05,120 --> 01:01:09,040 This is one of the things that Bitcoiners have been saying for 1090 01:01:09,040 --> 01:01:11,080 a long time. It's like the only use case for 1091 01:01:11,080 --> 01:01:12,760 shitcoins. And I'm not necessarily saying 1092 01:01:12,760 --> 01:01:16,360 stablecoins or shitcoins per SE. I know some people do, as we've 1093 01:01:16,360 --> 01:01:20,560 seen, there is actual adoption of stablecoins around the world. 1094 01:01:20,760 --> 01:01:24,280 So I think the idea of stablecoins as a bridge from 1095 01:01:24,280 --> 01:01:26,840 Fiat to Bitcoin, maybe it's a first step to Bitcoin. 1096 01:01:27,160 --> 01:01:30,200 I, I think it's pretty apt. I, I think it, it's a legitimate 1097 01:01:30,200 --> 01:01:35,960 kind of narrative, but they're doing, the ECB is, is doing 1098 01:01:36,120 --> 01:01:38,280 exactly that. They're, they're using shit 1099 01:01:38,280 --> 01:01:42,680 coins as the kind of like the squid ink here, you know, the 1100 01:01:42,680 --> 01:01:46,680 octopus ink to confuse not only themselves, but everyone else. 1101 01:01:46,880 --> 01:01:49,480 And that is, that is the beauty of shit coins. 1102 01:01:50,360 --> 01:01:52,760 Why they all try to regulate the shit coins. 1103 01:01:52,760 --> 01:01:54,960 And again, not necessarily saying stable coins or shit 1104 01:01:54,960 --> 01:01:59,880 coins, but it's not Bitcoin. It's cover for Bitcoin. 1105 01:02:00,120 --> 01:02:03,600 So look, let let the US government embrace stable coins 1106 01:02:03,760 --> 01:02:06,320 or, you know, export dollar hegemony around the world. 1107 01:02:06,760 --> 01:02:08,160 Bitcoin's going to get through the door. 1108 01:02:08,640 --> 01:02:12,560 Let the ECB attack stable coins. I don't think they're going to 1109 01:02:12,560 --> 01:02:15,080 be successful. But with that comes Bitcoin gets 1110 01:02:15,080 --> 01:02:19,200 through the door. I think this report is, is very 1111 01:02:19,200 --> 01:02:23,200 telling in what their narrative is and and also what their 1112 01:02:23,200 --> 01:02:25,280 hubris is. It's like, yeah, look, this is 1113 01:02:25,280 --> 01:02:28,120 the point. We want you to have less 1114 01:02:28,120 --> 01:02:33,040 control. That was the literal inception 1115 01:02:33,040 --> 01:02:35,920 of this idea. That was the initial route of 1116 01:02:35,920 --> 01:02:38,720 all of this. You should have less control. 1117 01:02:39,080 --> 01:02:42,480 There shouldn't be central banks around the world controlling 1118 01:02:42,480 --> 01:02:44,440 interest rates, controlling the money. 1119 01:02:45,120 --> 01:02:47,680 We are living in a debt Ponzi right now. 1120 01:02:48,240 --> 01:02:51,440 Personally, I want to move into something that is scarce, that 1121 01:02:51,440 --> 01:02:54,040 is neutral, that cannot be debased, that cannot be 1122 01:02:54,040 --> 01:02:56,440 controlled by a single entity or entities. 1123 01:02:57,800 --> 01:02:59,400 This is the point of all of this. 1124 01:02:59,400 --> 01:03:04,320 So Chrissy Lagarde, maybe, maybe we slow clap for her for 1125 01:03:04,320 --> 01:03:07,520 approving this report because it's beautiful. 1126 01:03:07,800 --> 01:03:11,080 It's a beautiful master class. I, I love to see this again. 1127 01:03:11,080 --> 01:03:15,920 They are talking about stable coins, but man, they're finally 1128 01:03:15,920 --> 01:03:18,000 saying it out loud. You got you got to love it. 1129 01:03:18,080 --> 01:03:22,160 You got to love it. I absolutely love this let's go. 1130 01:03:22,160 --> 01:03:25,520 This is this is good stuff here. This is really good stuff from 1131 01:03:25,520 --> 01:03:29,760 the ECB, but you know in reverse counter counter signal here from 1132 01:03:29,760 --> 01:03:31,000 the ECB. Gotta love it. 1133 01:03:31,280 --> 01:03:33,280 Love to see you. All right, guys, before I move 1134 01:03:33,280 --> 01:03:35,760 on though, oh, actually, sorry, I do have a good tweet. 1135 01:03:35,760 --> 01:03:40,080 Shouts out to Fernando. He is working on Bitcoin 1136 01:03:40,080 --> 01:03:42,600 perception, BTC perception. He was at Block stream for a 1137 01:03:42,600 --> 01:03:45,400 little bit. I love, I love this tweet here. 1138 01:03:45,520 --> 01:03:47,240 This is great. I'm not going to read the whole 1139 01:03:47,240 --> 01:03:50,320 thing 'cause he, he talks about himself a little bit and he used 1140 01:03:50,320 --> 01:03:52,440 to work in the music industry, but he goes, wait a minute, hold 1141 01:03:52,440 --> 01:03:54,480 on here. So the European Central Bank 1142 01:03:54,480 --> 01:03:57,160 published a paper warning that stablecoin adoption could pull 1143 01:03:57,160 --> 01:03:59,040 deposits out of the banking system. 1144 01:03:59,680 --> 01:04:02,480 The people who run the monetary system are admitting in an 1145 01:04:02,480 --> 01:04:05,560 academic paper that their product might lose to a better 1146 01:04:05,560 --> 01:04:08,760 product. The diagnosis is correct. 1147 01:04:09,080 --> 01:04:11,640 The conclusion they'll draw from it, of course, will be to 1148 01:04:11,640 --> 01:04:15,240 regulate the competition instead of improving their own product. 1149 01:04:15,560 --> 01:04:19,920 As I mentioned, the threat assessment was always accurate, 1150 01:04:20,320 --> 01:04:24,120 but the response was always protectionism, and protectionism 1151 01:04:24,240 --> 01:04:27,680 always loses. Absolutely beautiful. 1152 01:04:27,680 --> 01:04:31,600 Absolutely beautiful. Master class from the ECB and 1153 01:04:31,600 --> 01:04:34,800 just how to wreck yourself. Gotta love it, gotta love it. 1154 01:04:34,800 --> 01:04:37,760 All right guys, before I move on, like I was saying, make sure 1155 01:04:37,760 --> 01:04:43,520 you get your tickets to Las Vegas 2026 April 27th through 1156 01:04:43,520 --> 01:04:45,920 the 29th. It's going to be at the Venetian 1157 01:04:46,240 --> 01:04:48,160 bit corners are taking over Vegas again. 1158 01:04:48,200 --> 01:04:51,240 Last year I had a blast. I might have had a little too 1159 01:04:51,240 --> 01:04:56,640 much fun in Vegas, but hey, you know what stays in Vegas or what 1160 01:04:56,640 --> 01:04:59,440 happens in Vegas almost stays in Vegas until Nico comes on the 1161 01:04:59,440 --> 01:05:01,920 show and starts saying about me in Vegas, guys. 1162 01:05:02,000 --> 01:05:05,160 Oh, you're look, hey, what happens in Vegas stays in Vegas. 1163 01:05:05,160 --> 01:05:08,680 All right, so Bitcoin has taken over Vegas again for the world's 1164 01:05:08,680 --> 01:05:11,920 largest Bitcoin conference April 27th through the 29th. 1165 01:05:11,960 --> 01:05:17,280 Again, get your tickets today. And if you use simply all caps, 1166 01:05:17,280 --> 01:05:21,120 you get 10% off All right, guys. So to wrap up today's show, we 1167 01:05:21,120 --> 01:05:24,840 are going to talk about how's Bitcoin reacted in the face of 1168 01:05:24,840 --> 01:05:28,960 all of the biggest moments we've seen in the last few years from 1169 01:05:28,960 --> 01:05:30,920 a geopolitical macro perspective. 1170 01:05:32,720 --> 01:05:35,520 Spoiler alert, it's still the best. 1171 01:05:35,520 --> 01:05:37,240 All right, it's still the absolute best. 1172 01:05:37,240 --> 01:05:40,040 So quick commercial break, last commercial break and we will 1173 01:05:40,040 --> 01:05:43,480 wrap up today's show. I want to give a shout out to 1174 01:05:43,480 --> 01:05:46,000 our partner Hive Digital Technologies. 1175 01:05:46,080 --> 01:05:50,880 Fueled by clean energy, Hive has quadrupled its global Bitcoin 1176 01:05:50,880 --> 01:05:54,800 mining footprint and channels that same scale into high 1177 01:05:54,800 --> 01:05:58,720 performance compute where their AI cloud is now ranked number 1178 01:05:58,720 --> 01:06:01,320 one in the world for network performance. 1179 01:06:01,520 --> 01:06:05,480 At Hive, you've got dual engines, Bitcoin and AI, 1180 01:06:05,560 --> 01:06:08,360 humming, roaring, accelerating and unison. 1181 01:06:08,400 --> 01:06:11,040 They're lean and mean, they're green and clean, and they're 1182 01:06:11,040 --> 01:06:14,120 rewriting the playbook on sustainable digital 1183 01:06:14,200 --> 01:06:17,240 infrastructure. You can catch the latest buzz at 1184 01:06:17,240 --> 01:06:20,520 Hive Digital Tech or at Hive digitaltech.com. 1185 01:06:27,000 --> 01:06:30,880 Sorry guys, it's getting a little cottonmouth here talking 1186 01:06:30,880 --> 01:06:34,160 for an hour or so. Forgive me for taking a sip of 1187 01:06:34,160 --> 01:06:37,760 water. All right, guys, So bring him 1188 01:06:37,760 --> 01:06:39,960 back an idea that I brought up in the beginning of the show. 1189 01:06:39,960 --> 01:06:45,520 Actually, I've been talking about it all week and it is my 1190 01:06:45,520 --> 01:06:49,640 surprise to how strong Bitcoin has reacted in the face of the 1191 01:06:50,240 --> 01:06:53,280 new war in the Middle East or the new operation. 1192 01:06:53,280 --> 01:06:56,560 I know they're not calling it a war yet, but for all intents and 1193 01:06:56,560 --> 01:06:59,280 purposes, we are at war in the Middle East with Iran. 1194 01:07:00,920 --> 01:07:06,760 And I was very surprised to see Bitcoin not tank on the opening 1195 01:07:06,760 --> 01:07:12,560 of the markets on Monday. Now, there is a few things you 1196 01:07:12,560 --> 01:07:16,360 can point to. One of the things is obviously a 1197 01:07:16,360 --> 01:07:19,960 lot of Bitcoiners saying, oh hey, Jane St's no longer 1198 01:07:19,960 --> 01:07:22,680 manipulating the market. Now, whether they were or 1199 01:07:22,680 --> 01:07:28,880 weren't, there is a coincidence here that ever since the court 1200 01:07:28,880 --> 01:07:32,680 case against them for price manipulation in the 2022 1201 01:07:32,680 --> 01:07:37,640 collapse came to light, or rather was issued and came out, 1202 01:07:39,040 --> 01:07:42,080 we aren't seeing the 10 AM slams on Bitcoin. 1203 01:07:42,080 --> 01:07:47,520 And maybe maybe that push down of the Bitcoin price potentially 1204 01:07:47,520 --> 01:07:52,160 from Jane Street is why Bitcoin is seemingly running right now. 1205 01:07:52,160 --> 01:07:56,200 Now I know it's at 73 K. It's like, what is this a pump 1206 01:07:56,200 --> 01:07:58,320 for ants? I think we're up today or in the 1207 01:07:58,320 --> 01:08:04,440 last two days about 6-7 percent. But since the Iran war, Bitcoin 1208 01:08:04,440 --> 01:08:08,440 is up 12%. And again, that to me is the 1209 01:08:08,440 --> 01:08:13,440 most surprising signal here, the fact that Bitcoin is up multiple 1210 01:08:13,440 --> 01:08:17,439 percentages when you'd expect it to go down. 1211 01:08:17,720 --> 01:08:21,880 Now, I saw a really good tweet kind of analyzing this and 1212 01:08:21,880 --> 01:08:24,319 comparing this to the S&P 500 in gold. 1213 01:08:24,680 --> 01:08:29,000 And it just, it just shows you that even though Bitcoin maybe 1214 01:08:29,000 --> 01:08:32,720 has not performed as well as we'd like in the last year, 1215 01:08:33,560 --> 01:08:36,600 Bitcoin has still been outperforming everything else in 1216 01:08:36,600 --> 01:08:39,120 the face of huge geopolitical events. 1217 01:08:39,120 --> 01:08:42,760 So here's James Van Stratton, of course, he's senior analyst at 1218 01:08:42,760 --> 01:08:45,120 Coindesk. And he goes, remember this 1219 01:08:45,120 --> 01:08:49,240 chart, and this is a chart, this was by BlackRock, Robbie 1220 01:08:49,240 --> 01:08:53,640 Mitchnick, Mitchnick, Mitchnick, I think it's Mitchnick this. 1221 01:08:53,640 --> 01:08:58,920 So this was an official chart from BlackRock and they're 1222 01:08:58,920 --> 01:09:02,240 showing the S&P 500 gold and Bitcoin through major 1223 01:09:02,240 --> 01:09:05,760 geopolitical events. The first one, of course, was 1224 01:09:05,760 --> 01:09:09,840 the US Iran escalation last year January or sorry, not last year, 1225 01:09:09,840 --> 01:09:12,960 January 3rd, 2020. And you can see 10 day returns 1226 01:09:12,960 --> 01:09:20,279 and 60 day returns based on, you know, gold, S&P 500 and Bitcoin 1227 01:09:20,279 --> 01:09:22,479 response to these huge new political events. 1228 01:09:22,720 --> 01:09:27,359 So in 2020, after the US Iran escalation, S&P 500 went up 2%, 1229 01:09:27,359 --> 01:09:29,640 gold was flat and Bitcoin went up 12%. 1230 01:09:29,640 --> 01:09:34,880 Ten day return after the 60 day return, S&P 500 was down 7%, 1231 01:09:34,880 --> 01:09:37,399 gold was up 6% and Bitcoin went up 20%. 1232 01:09:37,760 --> 01:09:41,200 Again, the 2020 pandemic pandemic. 1233 01:09:41,200 --> 01:09:43,840 Wait, pandemic? Sorry that I I misspoke there. 1234 01:09:44,960 --> 01:09:47,720 S&P 500 was down 20%, Gold was down 9%. 1235 01:09:48,000 --> 01:09:51,200 Bitcoin did go down further, it went down 25%. 1236 01:09:51,399 --> 01:09:56,160 But the 60 day return S&P 500 was up 2%, Gold was up 30% and 1237 01:09:56,160 --> 01:09:59,920 Bitcoin went up 21%. Now going further, the 2020 US 1238 01:09:59,920 --> 01:10:05,280 election challenges in November 3rd 2020, S&P 500 up 7%, Gold 1239 01:10:05,280 --> 01:10:11,520 down 1%, Bitcoin up 19 percent. 60 day return, 2 month return. 1240 01:10:11,520 --> 01:10:17,240 S&P 500 up 12%, Gold down 1%, Bitcoin up 131%. 1241 01:10:17,400 --> 01:10:20,640 Now going further, Russian invasion of Ukraine in 2022, 1242 01:10:21,040 --> 01:10:24,600 Bitcoin did go down more than S&P 500. 1243 01:10:24,600 --> 01:10:27,880 S&P was 1%, Gold 2%, Bitcoin went down -6%. 1244 01:10:28,080 --> 01:10:33,040 But the 60 day returns, Bitcoin up 15%, while gold's at 9S and 1245 01:10:33,040 --> 01:10:36,960 P500's at 3. US regional banking crisis in 1246 01:10:36,960 --> 01:10:38,520 2023. Remember that? 1247 01:10:38,520 --> 01:10:42,120 That was fun. S&P 500 down to gold up 10%, 1248 01:10:42,120 --> 01:10:45,440 Bitcoin up 25%. Sixty day return, Bitcoin up 1249 01:10:45,440 --> 01:10:51,160 32%, gold 11, S&P 504%. Now the yen carry trade, which 1250 01:10:51,160 --> 01:10:54,320 was all of the rage last year, August 5th, 2020. 1251 01:10:54,360 --> 01:10:57,720 Oh sorry, in 2024, last year we saw it unwinding. 1252 01:10:57,720 --> 01:11:02,760 Forgive me. We saw S&P 500 up 2%, Gold and 1253 01:11:02,760 --> 01:11:07,120 Bitcoin flat. Now we have the updated numbers 1254 01:11:07,120 --> 01:11:10,920 here 'cause this chart wasn't updated and it is just a fill in 1255 01:11:10,920 --> 01:11:13,160 the blank. The 60 days after the yen carry 1256 01:11:13,160 --> 01:11:18,080 unwind in August 5th of 2024, Bitcoin went up 21%, gold went 1257 01:11:18,080 --> 01:11:23,960 up 9%, SPX went up 3%. Bitcoin outperforming again on 1258 01:11:24,040 --> 01:11:28,440 geopolitical events. Now this is the past, right? 1259 01:11:30,560 --> 01:11:34,080 I didn't I I it might not be a one minute chart guys, but we we 1260 01:11:34,080 --> 01:11:37,720 will look at some charts here. OK, I'll maybe I'll put the one 1261 01:11:37,720 --> 01:11:40,280 minute chart after and and forgive all my lines. 1262 01:11:40,280 --> 01:11:42,600 This is the deep value red range. 1263 01:11:42,600 --> 01:11:45,400 You know, I I got little descending triangle that the 1264 01:11:45,400 --> 01:11:50,640 price literally pumped off of. So I will do the one week here 1265 01:11:50,640 --> 01:11:54,280 just to kind of show and I'm only going to do actually, I'll 1266 01:11:54,280 --> 01:11:56,120 do all of them. I'll do them all for you guys. 1267 01:11:56,120 --> 01:11:57,320 Whatever, it's the end of the show. 1268 01:11:58,240 --> 01:12:03,000 Here we go. You know Bitcoin up almost 13% 1269 01:12:03,000 --> 01:12:07,000 started this week since the Iran war. 1270 01:12:07,040 --> 01:12:12,520 So we're not really at the 10 day returns yet for this Iran 1271 01:12:12,520 --> 01:12:17,120 war or Operation Epic Fury. But so far Bitcoins up 13%. 1272 01:12:18,560 --> 01:12:22,320 Let's see gold, which is probably the most interesting 1273 01:12:22,320 --> 01:12:30,920 gold is down about 7.8%. So still still doing well. 1274 01:12:30,920 --> 01:12:33,840 We're we're still, you know, we're still holding up to 1275 01:12:33,840 --> 01:12:38,000 Bitcoin performs best on these huge geopolitical moves. 1276 01:12:38,480 --> 01:12:42,800 And here's S&P 500. Let's see what is this? 1277 01:12:42,800 --> 01:12:48,200 I didn't actually check here. All right, so S&P 500 up 2.84%. 1278 01:12:50,720 --> 01:12:53,600 I don't know guys, it's almost like Bitcoin is doing exactly 1279 01:12:53,640 --> 01:12:54,840 here. Actually, before I go, it's 1280 01:12:54,840 --> 01:12:57,600 almost like Bitcoin is doing exactly as designed. 1281 01:12:57,600 --> 01:13:01,200 Here's the one minute chart for you guys, since you guys love it 1282 01:13:01,200 --> 01:13:03,040 so much. Since I've mean oh, I didn't 1283 01:13:03,040 --> 01:13:04,760 even show you guys. Oh, RIP. 1284 01:13:05,240 --> 01:13:07,520 All right, just trust me on those numbers. 1285 01:13:07,520 --> 01:13:09,720 I was doing them live for you guys, but just trust me that 1286 01:13:09,720 --> 01:13:14,360 those were the numbers. So Bitcoin up 12 almost 13%, 1287 01:13:14,720 --> 01:13:21,840 Gold's down almost 8%, S&P 500 is up almost 3% since the start 1288 01:13:21,880 --> 01:13:27,600 of the operation Epic fury. So again, another data point 1289 01:13:27,600 --> 01:13:34,160 that Bitcoin it, it really is the best performing asset no 1290 01:13:34,160 --> 01:13:38,920 matter the conditions. Yes, we had a bad 2025, you 1291 01:13:38,920 --> 01:13:40,840 know, you could always cherry pick data points. 1292 01:13:41,240 --> 01:13:44,600 But again, huge geopolitical event. 1293 01:13:45,520 --> 01:13:49,320 We're almost at the 10 day return for Bitcoin, Bitcoins 1294 01:13:49,320 --> 01:13:53,480 reacting the best out of the last huge geopolitical event out 1295 01:13:53,480 --> 01:13:57,600 of gold and the S&P 500. I don't know, man, guys, it's 1296 01:13:57,600 --> 01:14:01,640 it's almost as if Bitcoin is doing exactly what we thought it 1297 01:14:01,640 --> 01:14:03,480 was going to do. When you, when you put it in 1298 01:14:03,480 --> 01:14:08,400 this context, it does show that even if we're down on the year, 1299 01:14:09,440 --> 01:14:12,360 Bitcoin is still the best thing to hold no matter what the 1300 01:14:12,360 --> 01:14:16,400 geopolitical event is. And I'm I think I think it's 1301 01:14:16,400 --> 01:14:20,960 going to be eye opening to see this continue to maintain and 1302 01:14:20,960 --> 01:14:23,800 and at a certain point, it it is just going to be undeniable. 1303 01:14:24,400 --> 01:14:25,920 Bitcoin's the only thing you want to be owning. 1304 01:14:28,560 --> 01:14:30,680 I don't know, guys, is this what winning feels like? 1305 01:14:30,880 --> 01:14:33,880 Is this what winning feels like? Yes. 1306 01:14:33,880 --> 01:14:38,560 Best money on earth, boss. Sorry, sorry, guys, I I I can't 1307 01:14:38,560 --> 01:14:40,600 look at the chat. Do you guys, do you not trust 1308 01:14:40,600 --> 01:14:43,120 me? OK, All right, OK, all right. 1309 01:14:43,600 --> 01:14:47,200 Since you guys don't trust me, You you guys, man, guys don't 1310 01:14:47,200 --> 01:14:49,360 trust me. OK, I see how it is. 1311 01:14:49,360 --> 01:14:54,480 I see how it is. Here we go all right, so here is 1312 01:14:54,600 --> 01:14:58,240 the low for the week to the high almost 13%. 1313 01:14:59,000 --> 01:15:04,040 We're going to do gold, gold start of the week and we're and 1314 01:15:04,040 --> 01:15:06,960 we're even we're even being maybe I'm being a little too, 1315 01:15:06,960 --> 01:15:10,840 you know, cherry picking. But this week, from the high to 1316 01:15:10,840 --> 01:15:13,440 the low, it's almost down 8 percent, 7.8%. 1317 01:15:14,360 --> 01:15:18,320 And then S&P 500 again. I am being charitable here. 1318 01:15:18,320 --> 01:15:21,720 From the low of the week to the high, it's up 3%. 1319 01:15:21,720 --> 01:15:25,400 Though in reality, I guess we should do something like that. 1320 01:15:25,440 --> 01:15:28,480 It's up. It's not even up a percent. 1321 01:15:28,480 --> 01:15:32,760 S&P 500 from market open on the week to current price, it's up 1322 01:15:32,760 --> 01:15:36,120 .81% and it just turned red. Love it. 1323 01:15:37,040 --> 01:15:41,200 So like Bitcoin? Bitcoin is doing exactly as 1324 01:15:41,200 --> 01:15:44,080 designed. Any of the haters out there 1325 01:15:44,080 --> 01:15:48,160 saying that Bitcoin has failed, it's been hijacked, you know, 1326 01:15:48,160 --> 01:15:51,560 it's been compromised by the banks, yadda, yadda, yadda, 1327 01:15:53,160 --> 01:15:56,080 They're trying to sell you something and they're trying to 1328 01:15:56,080 --> 01:15:59,080 be bearish on Bitcoin. They're trying to sell you 1329 01:15:59,080 --> 01:16:01,960 anything about Bitcoin. At least you guys know my job 1330 01:16:01,960 --> 01:16:06,000 here is to sell you Bitcoin. I lean into the idea. 1331 01:16:06,000 --> 01:16:08,520 I'm a Bitcoin propagandist. I know my bias. 1332 01:16:08,520 --> 01:16:13,800 I am biased towards Bitcoin. Bitcoin has reacted the best 1333 01:16:14,520 --> 01:16:16,880 since Operation Epic Fury started. 1334 01:16:18,560 --> 01:16:20,480 I don't know. Take that information as you 1335 01:16:20,480 --> 01:16:22,600 will, boys. It's almost like Bitcoin is 1336 01:16:22,600 --> 01:16:27,200 doing exactly as designed. It is almost like Bitcoin is the 1337 01:16:27,200 --> 01:16:32,520 best money in the world. Simply chart, boys. 1338 01:16:32,520 --> 01:16:34,120 Yeah, dude, we're I'm a chart boy. 1339 01:16:34,640 --> 01:16:37,040 Everyone knows I'm a chart boy. I have meme, the one minute 1340 01:16:37,040 --> 01:16:39,040 chart. I literally get you guys 1341 01:16:39,200 --> 01:16:41,600 tweeting at me like I better see the one minute chart today. 1342 01:16:41,880 --> 01:16:43,880 You know, it's trolls. The one minute chart's just fun 1343 01:16:43,880 --> 01:16:45,240 to watch, guys. All right? 1344 01:16:46,400 --> 01:16:49,440 It's even more fun when it's dumping or it's pumping. 1345 01:16:49,800 --> 01:16:53,080 So whenever you see the price going crazy, I'm telling you, 1346 01:16:53,440 --> 01:16:56,880 put on the one minute chart and then monitor your emotions. 1347 01:16:56,960 --> 01:17:00,520 The situation you should be monitoring is your emotions when 1348 01:17:00,520 --> 01:17:04,320 the price does something. That's the funnest thing here. 1349 01:17:05,800 --> 01:17:07,960 All right, can you walk and chew gum? 1350 01:17:07,960 --> 01:17:11,800 No, I can't. I I have two brain cells left, 1351 01:17:11,800 --> 01:17:14,320 guys. I have two brain cells left and 1352 01:17:14,320 --> 01:17:20,560 I cannot do multiple stuff. All righty then, guys. 1353 01:17:20,560 --> 01:17:24,160 Well, well, well, all right, so end of the show. 1354 01:17:25,920 --> 01:17:31,320 But just to inform you, and you guys might be happy Nika's going 1355 01:17:31,360 --> 01:17:34,560 to be gone the rest of the week. He's he's got to take a trip. 1356 01:17:35,600 --> 01:17:38,520 So tomorrow I will have a guest with me in person. 1357 01:17:39,080 --> 01:17:43,440 If my, if I remember my schedule correctly Friday, I will be 1358 01:17:43,440 --> 01:17:45,680 doing the show most likely alone. 1359 01:17:45,680 --> 01:17:49,080 So simply opt you for the rest of week. 1360 01:17:49,080 --> 01:17:51,840 All right, guys, on that note, I appreciate you guys. 1361 01:17:51,840 --> 01:17:54,960 I love you guys. Have a good rest of your day. 1362 01:17:56,400 --> 01:17:58,760 Eat some good food, get a workout and get some step. 1363 01:17:58,760 --> 01:18:02,040 Get your 10K steps in. And of course, get some sun on 1364 01:18:02,040 --> 01:18:07,600 you guys get get on your eyes. We are we are ascending in 2026. 1365 01:18:08,760 --> 01:18:12,640 I want you guys to be the best you can be physically, mentally 1366 01:18:12,920 --> 01:18:16,000 and of course, financially and spiritually. 1367 01:18:16,200 --> 01:18:18,920 We are rising. We are ascending in 2026. 1368 01:18:18,920 --> 01:18:23,760 All right, guys. So put down the doughnuts, watch 1369 01:18:23,760 --> 01:18:26,400 your calories. It's going to work out. 1370 01:18:27,320 --> 01:18:29,040 All right, guys. All right, love you guys. 1371 01:18:29,040 --> 01:18:30,760 I will see you tomorrow. Have a good rest of your day. 1372 01:18:31,000 --> 01:18:34,200 Peace out. Today's episode was brought to 1373 01:18:34,200 --> 01:18:37,760 you by bitcoinwell.com, a Bitcoin only platform on a 1374 01:18:37,760 --> 01:18:40,160 mission to enable financial independence.