In my 8 years in Bitcoin, I never thought I would hear a
central banker admit what Jerome Powell just said about the
global monetary system. And we want you guys to pay
close attention to what Jay Powell says in this clip because
this speech not only confirms what the Trump's literally said
this morning, but it also I think gives us insight into
where Bitcoin is going into the future and also prepare you
guys. It is a little dry and we'll
we'll break it down on the flip side.
Ted emerged from World War 2 as a global economic superpower.
The Bretton Woods Agreement placed the US and the Fed in a
central position in the global economy.
Our mission then, as it is now, was to serve the American.
People. But it was clear at that moment
that the Fed needed to have better knowledge of global
global developments to achieve our dual mandate goals.
A 1948 memo proposing to create the division stated, quoting
Problems of international economics and finance have
become increasingly large, complex and significant in
recent years, and our foreign economic relations will
undoubtedly continue to give rise to issues of the first
magnitude. That rare economic forecast that
has turned out to be spot on 75 years later.
It remains critical that the Fed understand the policies and
practices of other governments and central banks and their
implications for the US economy and for financial markets.
Exchange rate policy, of course, is now firmly in the hands of
the US Treasury. However, the end of the Bretton
Woods era in the 1970s fundamentally changed the
conduct of monetary policy, as policy makers had to understand
the effects of potentially more volatile movements of the US
dollar on American families and businesses.
Understanding global trade and capital movements has only grown
in importance since 1950. All right, guys.
Did you catch that? Did you catch what he just said?
Remember one of our favorite websites?
WTF happened in 1971? Big corners have been talking
about this for a long, long time.
And now we have Jay Powell, who was supposedly going to resign
yesterday. You know, everyone's wondering
whether he's going to raise rates, cut rates, What are they
doing over at the Fed? Well, he came out with this
speech yesterday, didn't talk anything about cutting rates or
raising rates or any of that. He literally dropped a WTF
happened in 1971. Now, kind of breaking this all
down, very interesting things we've been seeing from not only
Jay Powell but Donald Trump. Remember a couple weeks ago we
talked about Donald Trump mentioning the year 1913 with
his funny and and kind of hilarious take of no one knows
what happened in 1913, but it changed everything.
Well, us bitcoiners know what happened, of course, the
creation of the Federal Reserve. And now we have the chairman of
the Federal Reserve mentioning 1970.
Wow, you did it. And what is the importance of
this? Of course, if you're a
bitcoiner, if you understand monetary history, you know the
importance of 1971. That's when Nixon took us off
the Gold Center. That's when we fully dove
straight into a totally Fiat paper system.
And now we have the chairman of the Federal Reserve essentially
saying, well, you know, guys, in 1970s something fundamentally
changed in the system and he didn't go all into it, but us
Bitcoiners know what's going on here.
He is mentioning the fact that we completely detached ourselves
from reality and started to get on a paper money system.
Now, the interesting part about this, of course, as a Bitcoiner,
we understand where this is going.
And, and what Jay Powell is saying, if you read between the
lines, he's essentially and his job here in these speeches is to
project where the Federal Reserve is going.
They, you know, they speak in code here and they're
essentially telling the markets, hey, look, we are acknowledging
that there is a problem here. We're acknowledging that things
are changing, that there might be a new monetary regime on the
horizon. Of course, as bitcoiners were
like, that's going to be Bitcoin.
Bitcoin will become the world reserve currency.
Now we even have Jay Powell kind of admitting, hey, things are
going to have to change. Now, if you're a pure Fiat maxi,
if you're a pure, you know, not a Bitcoiner here, you're
probably hearing that and you're just thinking like, oh, maybe
the Fed's going to just change intro.
Maybe their, their target's no longer going to be 2%.
Maybe it'll be 4%. Maybe the new interest rate, you
know, default won't just be, you know, a low and Drake, maybe
we're going to have to move this up and we're going to all have
to adapt to this. But from a Bitcoiners
perspective, what I'm hearing here is essentially him
acknowledging what we've been saying on the show for a long
time. Things are going to have to
change. There is a new monetary regime
on the horizon. And if you're not adapting to
the game being played, and of course, Jay Powell is projecting
what's to come, and if you aren't reading the room, you
aren't looking at the horizon, then you might get caught with
your pants down metaphorically here.
And I think Jay Powell is being forced into a corner.
Obviously, we've been hearing him, you know, go back and forth
with Trump. He's still kind of trying to
position himself in this power position.
And as Bitcoiners are sitting over here on the sidelines,
essentially like, hey, we know bitcoins taking over here.
So I think it's very historic to hear Jay Powell talk about 1970.
Obviously, 1971 is the big year here.
And now we have the central banks acknowledging that that
very specific date, because we all know this change when Nixon
got off the gold standard, basically when the US defaulted
on their gold redemption. Things fundamentally change
during the Bretton Woods agreement up until 1970,
essentially the world was pegged to a dollar, which was pegged to
gold. Now we're completely detached
from reality and we're seeing the downstream effects of this.
Now, Nico, before we get into what Eric Trump said this
morning, which is in a very similar vein, what's your
thoughts on Jay Powell essentially saying WTFWTF
happened in 1971? Yeah, I mean, dude, it's, it's
pretty crazy because Jay Powell has been talking about
essentially how EU, the the US government is on an
unsustainable fiscal monetary policy.
He's even admitted to this, right.
So it's interesting that around the same time he's bringing that
up, he's also talking about it, basically making the case that
look like the kind of Bretton Woods agreement that has been,
you know, put in place since World War 2.
It's kind of coming to an end. I mean, the writing is on the
wall. They they can't really hide this
anymore. Lynn Alden had an amazing
presentation. I highly suggest you guys watch
it. It's about 15 minutes that she
did at Bitcoin 2025 and she made the case that nothing stops this
train. We had the smartest guy in the
world, the world's richest man, the man that invented self
landing rockets, self driving cars, go into government and try
to cut the deficit. He wanted to cut it by 1
trillion. Then he moved it up to 2
trillion. He was only able to cut it by
150 billion. And the reason he left and the
reason he got so you know, this like he just, he just lost all
motivation because his, because he realized that the system is
so inherently corrupt, so inherently broken.
They just he pulled back. He says, look, I I can't do
this, I can't do this, I can't do this anymore.
And the own party that he got elected, right?
He put his money on the line. I believe he contributed like
$100 million. He.
Bingo's closer to 200. $200 million.
He needed congressional approval for these cuts to happen.
The Republicans have the majority and the Republicans
themselves didn't accept it. So if the world's richest man,
arguably the world's smartest man goes into government with
Harvard, you know, computer scientists, super geniuses going
in there, plugging their systems into all forms of government,
finding all of these inefficiencies in Social
Security and, you know, not to mention USAID and all he was
able to manage was 150 billion. It should tell you that the
system within the system cannot be fixed.
And everyone is starting to notice.
And This is why Lynn Alden said nothing stops his train us
Bitcoiners. We were calling this me and opt
to give me and Opti credit, you know, tomorrow's Bitcoin use.
Today here at Simply Bitcoin, we were calling this, we said,
look, even with Elon going in, he's not fundamentally
addressing the flaw in the system.
The flaw in the system is the government's unique ability to
create money out of thin air that everyone else has to work
for and that inherently misaligns incentives.
In fact, it creates government addicted to that free money.
It creates people addicted to that free money.
And what Jerome Powell is saying, and he's seen the
writing on the wall. And to give him credit, unlike
Christine Lagarde that's living in La La land, you know, she's
like, CBDC's are the future. At least Jerome Powell's coming
to terms with reality and saying, you know what, this is
pretty much unsustainable. Like, we can't sustain this.
That's why he's bringing up Bretton Woods.
That's why he's basically bringing up the fact that
there's going to be some type of reshuffling here, some type of
reorganization. And I think it's going to happen
within the next 5 to 10 years. You have very smart people like
Arthur Hayes also made an amazing presentation at the
Bitcoin conference. Larry Leopard had a podcast with
him here in Miami Beach. He wrote a book called The Big
Print. Arthur Hayes is basically
saying, look, Bitcoin's going to hit $1,000,000 in the next 5
years because they're going to print money.
We are hearing news coming out of the Yahoo Finance article
dropped a couple weeks ago, basically said that the Fed is
quietly selling bonds, but there's no buyers.
Who, Who do you think buys those bonds?
When the Fed finds no buyers for those bonds?
The Federal Reserve themselves, how are they able to afford
those purchases? They print the money, right?
So this is what's happening. There's a global realignment of
the financial system, and you have to find yourself a
lifeboat. And that lifeboat is Bitcoin.
Make no mistake, the Titanic is sinking.
They're running out of road to kick the can down the road.
And yeah, I mean, like, it's just a matter of time, man.
It's just a matter of time before they turn on the money
printers to try to build themselves out.
This is an inevitability. It's not a question of if they
will do it, it's a question of when they will do it.
I mean, pull up the M2 money supply chart, bro.
Like this experiment started in 2008, coincidentally when
Satoshi released Bitcoin in the genesis block.
It says chancer on the brink of the second bailout for banks.
Satoshi inherently knew that they were going to keep on
printing. Opti's going to show the M2
money, so you see that initial that.
And this is just AUS, yeah? Let me make, let me make a
smaller. There we go.
Yeah. So you see back in 2010, 2008,
that was the initial kind of splurge.
Look at 2020 that was the pandemic that and then as you
can see it kind of you know the we went into like kind of this
like QT type of environment that's gone we're back to money
printing again. Maybe it's not so you know over
over the table, but they're addicted to this.
You can't Lynn Alden's words are perfect.
Nothing stops this train right. So Jerome Powell is basically
saying the quiet part out loud and what you could do to protect
yourself, right? I mean, you guys are Bitcoiners
in this audience. So buy hard assets.
I think the best one is obviously Bitcoin because of its
absolute scarcity. But if you're sitting in assets
in general, whether it's stocks, whether it's real estate,
whether it's gold, it's all going to go up.
And it it's value might not necessarily be going up, but
because of inflation, it just balloons the asset prices.
So if you're sitting in assets, when they inevitably start to
print money again, your assets are going to, on paper at least,
going to go up in value. Right now, of course, this is a
Bitcoin show. Our favorite asset is Bitcoin
because if it's physical characteristics, it's 21 million
cap supply, it's your ability to custody with ease, your ability
to transport it, your ability to send it without the necessity of
a third party. So Bitcoin is the superior asset
of all these assets that are going to benefit when they
inevitably going to start to print money.
But it what's really interesting is that Jerome Powell himself is
basically saying, dude, we are so effed.
Like that's what he's saying, that's what he's saying.
Remember the the Bretton Woods agreement, this thing has been
around since, you know, basically the end of World War
2. The Fiat money experiment
started in 1970. We're coming to an end of that
said experiment. And if you are not protecting
yourself, protecting yourself as an individual by storing your
time, your energy and your work into hard assets, my favorite
being Bitcoin, you're going to get absolutely wrecked when
Lawrence Leppard's prediction, the inevitable big print, comes.
And not only that, Nico, when you really listen to what Jay
Powell said, and you said it very clearly, it's almost as if
the system is rigged against us. It's almost as if, you know,
there's been an argument whether the system is broken or, you
know, Lennon says you can't stop this train.
Larry Leppard frames it as the big print is coming.
It's almost as if you can kind of judge the system by its
fruits and you can say that maybe it was designed in this
way to essentially, you know, take redistribute wealth from
the masses to the upper class, or rather the wealthy elites.
Well, as I said earlier, one of the Trump's went on CNBC this
morning and even he is seeing what we're seeing.
You have that. Clip I got it.
He did these things. The reason we got into crypto
and we're all in on crypto and we're doing American Bitcoin and
we have World Liberty Finance and USD One was because there
was a time, and probably I'd been on this show where there
was, I could call any single banker in New York City, They'd
pick up the phone, I'd be able to get a loan for whatever real
estate project I was doing across the street.
Then we got into politics and all of a sudden they wouldn't
take your call. You couldn't get financing.
We were debanked and what I realized and my brother realized
because we were the recipients of every subpoena imaginable was
that, you know what? We were actually just the top of
this sort of pyramid scheme that we didn't realize we were a part
of, that the financial system was totally undemocratized
because we had a certain balance sheet, whatever, we could kind
of do whatever we wanted. The regular guy was messed up.
Now we were all of a sudden in the shoes of the regular guy
that wouldn't be able to take advantage of the markets.
And we said, what's the solution for that?
The answer is crypto. You know, these decentralized
platforms where you're not beholden to this, where you
create efficiencies as a guy that did real estate, you know,
why am I paying points in and out for title insurance that
could be done on the blockchain? So we got into crypto not
because it was like, hey, this is the next cool thing.
We got into it out of necessity. We got into it because we
understood just how quickly we could be turned off, even as an
incredible developer from New York.
I mean, I don't think anyone would argue that we didn't
change the skylight of New York City, but that disappeared in an
instant. I mean, we're getting sued by
New York State AG half a billion dollar fees for paying back
loans on time with interest. These aren't, you know, fair
markets. There's no nothing egalitarian
about any of that. So we actually as innovators, as
people who understand these things, we went all, all in on a
concept that makes total sense because we'd actually been the.
OK. Now, first of all, guys, let's
just ignore the whole blockchain and his overuse of the word
crypto here. He's obviously talking about
Bitcoin, but he said a few important things.
First of all, we've been talking about, and it seems like no one
cares, but the Fiat system, the traditional status quo system we
are in is literally a Ponzi scheme built on, you know, this
pyramid scheme of dollar debt. This is the world we live in.
And the second thing that I found very interesting, it does
remind me of Safdean's quote, which I am pretty sure is one of
the things that got us, you know, got us in hot water over
here at YouTube. So I won't say it again, but you
will adopt Bitcoin because of necessity.
And we're seeing that the world is waking up to the fact that
they need Bitcoin. Look, we've had the Trump's go
in. We know their big famous fight
with Jay Powell. Now even Jay Powell is saying,
hey, you know, there's something on the horizon here.
There's some kind of sea change going on.
And everyone out there is not acknowledging or rather asleep
at the wheel that there's a tsunami ahead of them.
And so look, This is why we try to do the show here.
We want to get into, you know, where you guys are hanging out
on YouTube on Rumble, people outside of just a Bitcoin space
and basically tell you guys, the necessity is now you need to
start stacking Bitcoin. You need to start saving in
Bitcoin because who knows how long this can go on.
They can kick the can down the road for a long time.
But the necessity is now you need to get into a money that
cannot be the base, that is censorship resistant, that is
literally peer-to-peer and global because we're seeing a
shake up in real time in the standard status quo monetary
regime and everyone is telegraphing this exact same
thing. Things are changing.
And if you're stuck in the old system, you are stuck in the
past and you need to upgrade your money today.
A. 100% man, you need to upgrade your money.
You need to upgrade your unit of account.
You shouldn't be judging your net worth.
You shouldn't be accounting your net worth or using dollars as
your unit of account to see what your net worth is.
You should be using Bitcoin as your unit of account to see what
your net worth is. Your life will get better.
Your life just gets better on a sound money standard.
Everything gets progressively cheaper over time.
Life gets less expensive. And this is the case.
We're going to be dropping a, a, a, a simply Bitcoin IRL this
Saturday with Jeff Booth. I hope you guys enjoy it, but
this is the case that Jeff Booth has been making for many, many.
What was that? It's a chat.
This is the case that Jeff Booth
has been making for like essentially like many, many
years now that the world isn't, and this is what I want you guys
to wrap your head around. You guys have to arm yourself
with the truth, right? The world is inherently
deflationary by default. So what do I mean by that?
Productivity has increased, Technology has increased.
The world has gotten wealthier. However, I think this is a good
opportunity to put up pull up the website What the F happened
in 1971. However, as a as a whole, as a
society, we have not gotten collectively wealthier.
So if you could pull that up Opti to show you guys, so like
the case that Jeff Booth makes right, is that essentially if
you are on a sound money standard, things should get
progressively cheaper over time. That's the way that the world
naturally should be functioning. That's the world that the that's
the that's the way that the world should naturally work.
But because of Fiat money, governments have been able to
essentially manipulate the money to their advantage at the
expense of their citizens, specifically the middle and
lower classes. So here's a great example, like
starting off with the first, the first chart, Opti, if you can go
up, that's 1971, right? So as you could see, the
productivity, which is what I was talking about, has increased
by 246%, but compensation only went from 90% to 115%.
If you keep going lower, we'll find other examples of that,
right? It's the same thing, right?
So real medium weekly earnings of full time workers has
basically gone sideways and the real GDP per capita has gone
through the roof. So keep going down.
Again, income gains widely shared in early post war
decades, but not since then. So again, the 95 percentile, the
very wealthy that do have the means to save in assets continue
to get wealthier, but everybody else, the middle and lower
classes remain the same. So how in the hell since the
1970s, Remember back in 1971, a computer wasn't a thing, an
iPhone wasn't a thing, AI wasn't a thing.
Look at all the productivity increases that we've had as a
society and you're telling me that somehow you were able to
afford a home back in the 1970s and you were able to actually
make a living back in the 1970s and you were actually able to
have single parent households where one parent stays at home
and then the other one goes to work.
And that today is inconceivable after all the technological
increases. It, it's insane.
What I'm making the case for is if you don't believe that
theory, switch over to a Bitcoin standard.
You'll start living that deflationary lifestyle today.
Things will get progressively cheaper for you over time if you
switch over to a Bitcoin standard.
And again, this is not only a monetary switch that you have to
make. This is a spiritual switch.
This is an economic shift. This is a time shift.
You're, you're essentially changing your operating system
in your brain from a Fiat brain to a Bitcoin brain.
And I, I'm telling you, it comes with a whole lot of hope, a
whole lot of optimism about the future because now all of a
sudden you're like, wow, I can't afford that apartment that I
want to buy for my family and my kids in the future generation.
I can't afford that car. I can't afford that vacation
that I wanted to go on. But under a Fiat standard,
listen, if you're not making more than 7, if you didn't get a
7% increase in salary compared to the year before, you are
making less. And this is what they don't take
into account, right? Like let's be real here.
This is what they don't take into account.
However, if you've been saving in Bitcoin, The thing is
everything is getting cheaper over time, everything.
So in a five year time scale, whether it's the S&P, whether
it's a house, whether could you pull up an image of like
comparing like how housing prices have gone down.
So like anything you could think of, if you've been saving in
Bitcoin, that house has been getting cheaper in Bitcoin
terms, eggs have been getting cheaper on Bitcoin terms.
And that's the way that's a perfect image and that's the
way, yeah, that's perfect. And that's the way that that's
the way that that the world should work.
This is the, this is the case that Jeff Booth has been making,
right? This is the way that the world
should work. The only reason that Bitcoin is
able to pull this off is because of its decentralization is
because of its immutability. It's because of its cap supply.
So it doesn't allow the money to get manipulated and debased.
Therefore, it actually allows you to save the function of
money itself. We live in a world where you're
forced to become a part time investor just to live, just to
maintain your purchasing power. That is absurd.
Look at that, look at that. So in 2017, it would cost you
125 BTC to buy a house In 2020, what was this 20/22 at 2022?
So it's even less now. 2022 cost you 20 Bitcoin.
Now change that for dollars. Between 2017 and 2022, housing
prices have doubled. So despite housing prices
doubling in Fiat in Bitcoin terms, housing prices have
literally been cut in by like a factor of 4, right?
So switch your life to a Bitcoin standard.
Life gets better, life gets cheaper, life gets easier to
navigate like that's the reality of it.
Anyways, guys smash the like button.
We're at 139 likes right now on YouTube.
If you guys are enjoying the show, help us break 200 likes.
Also want to give a shout out to the Rumble live stream as well
going in hard and of course the X live stream always going in
hard as well. Guys, smash the like button
really, really helps with the algos to push what we've been
telling you. This message forward.
Jerome Powell is admitting that we are entering the end stage of
the Bretton Woods era, the end stage of Fiat.
He himself is saying that the US monetary policy is
unsustainable. Lynn Alden's making a
presentation. Larry Laparde's writing books
about it. Arthur Hayes is making
presentations about it. I mean, some of the brightest
minds, some of the smartest people are telling you the quiet
part out loud. You have to choose as an
individual whether you're going to take agency and action on
that information from some of the brightest minds in the
industry. Nothing stops this train
anyways, before we move on to the next segment, I do want to
give a very special shout out of course, to our lead sponsor.
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today. Anyways, guys, we have a hell of
a show lined up for you guys. Me and Opti are going to be
doing the shows in person in the flesh, and we got some special
supply surprises for you guys in the next coming weeks.
We're going to be talking about many, many things upcoming.
We're going to be talking about. It's interesting.
Again, another article, you know, again, these Bitcoin
conferences are different. They've changed up these days.
They're entering in the political sphere.
These Bitcoin conferences used to have cypherpunks, used to
have people that were just, you know, kind of like total anti
state, like Eric Case on. And now we have, you know, a
Fortune 500 CE OS. We have politicians from the top
echelons of power. So it's a little bit different.
Bitcoin is maturing. The Wells Fargo report that we
read you guys yesterday, Bitcoin is becoming institutionalized.
And also there was an article by the Las Vegas Sun which I
thought was absolutely hilarious and it quoted Eric Kasson, it
quoted CJ, it quoted myself. We're going to go through all of
that and we're going to just kind of have like a recap of
like where are we in Bitcoins history?
Where is Bitcoin going to be 5 years from now?
I think you guys are going to really enjoy that conversation.
And then during the numbers segment, I have a very special
video of you guys of Hester Pierce, the SEC commissioner,
again basically saying, like, look, banks have the ability to
custody Bitcoin baby. There's three things that
Michael Saylor said needed to happen in order for Bitcoin to
hit $5,000,000 per coin. He said the first thing is a
change in the FASPI accounting rules.
Second thing he says the approval of the spot Bitcoin
ETFs. The third thing that he said was
the ability for banks to custody Bitcoin.
Under the previous administration, the Biden
administration, they actively tried to sabotage the Bitcoin
industry left and right. They tried to stop it, but with
this current administration, he's opening up the door.
He's saying, listen, we're going to leave you Bitcoiners alone.
I mean, we had a sitting vice president make a speech at a
Bitcoin conference. We are winning.
We got Ross Ulbricht freed. We are winning.
This is what winning feels like and we're just starting to win.
This winning is non-stop. We got beat by 2 by 4
metaphorically for the past 15 years.
That's over now. We're in the driver's seat.
If you're not in the room, you're not in the deal.
We are in the room. This is what winning feels like.
So act like winners, act victorious, but you got to stay
on guard because the mission isn't accomplished yet.
The final goal, the final goal of Bitcoiners is to get a
president in the White House that wants to end the Fed.
Anyways, ladies and gentlemen, we will be right back in just a
second. We're going to hit the numbers.
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today. All right, everybody, we are
back and we're going to cover the numbers, ladies and
gentlemen, and let's get to it. At the time of recording, the
Bitcoin price is 106,808, a $106,020.00 block height 899,672
sats per dollar 943 market cap 2.11 trillion Bitcoin versus
gold market cap 8.89% percentage issued 94.63% decline from all
time high -5.3% Realized monetary inflation .85%.
Again, taking Fiat currencies to absolute school.
I do want to play you guys this video of Hester Pierce.
Hester Pierce is the SEC Commissioner.
Let's check it out. What we're trying to do with
eliminating SAB 121 is to say if you have experience in custody,
you can come into this space. It's not to say that entities
that are crypto native and want to provide custody that they
can't do it, but it's really to say we want to have as broad a
pool as possible of potential custodians.
That's what's best for. So let's break down essentially
the difference between SAB 121 and SAB 122 and the significance
of it from the ability for institutions to custody Bitcoin.
So last year and I was talking to Eric Weiss about this on a
simply Bitcoin IRL and he actually believed that one of
the big reasons that the Biden administration lost or better
said, let me phrase that better. One of the big reasons as to why
the Biden administration kind of fell out of favor with the
Bitcoin and crypto industry was because the SAB 121 repeal
passed the House and it passed the Senate.
President Biden vetoed it. Maybe his auto pen did, but he
vetoed it, right? So it passed the Senate, passed
the House, and Biden was like, no, one of the first things that
Trump did when he got in office was he repealed SAB 121.
So what is SAB 121? SAB 121 essentially required
entities holding crypto assets for others to report these
holdings as balance sheet liabilities.
Could you imagine that? So you're holding Bitcoin on
behalf of an entity and if Bitcoin drops 3040%, you have to
write on your balance sheet to reflect that drop, even though
those aren't your assets, you're holding it on behalf of someone.
And by the way, I can't confirm this for sure, but after
experiencing Operation Choke .2 point O over the last three
years and the essentially death by 1000 regulatory cuts type of
strategy, I think this was on purpose, right?
I think this is the type of regulation that is set up in a
way where it wants you to fail or essentially makes it so
difficult for you to navigate that environment.
It deincentivizes institutions from adopting Bitcoin or a
holding Bitcoin on behalf of their clients, right?
So This is why this law was so important to be repealed.
This is why Michael Saylor said this is one of the three things
that essentially needed to happen in order for Bitcoin to
reach $5,000,000 per coin. So it goes on to say this
created significant financial constraints and hindered
traditional financial institutions from entering the
crypto custody space. So here is SAB 1122.
So SAB 122, this bulletin issued in January of 2025 here in OPTI
wants me to share the screen when I'm showing.
So I will do that for OPTI now. I lost it.
OK, here it is. So SAB 122, this bulletin issued
in January 2025, of course the first month Trump you know, was
inaugurated January 9th I think was the date rescind.
SAB 121 provides new guidance for accounting obligations to
safeguard crypto assets. It aligns crypto asset
accounting with contingency principles, allowing entities to
assess liabilities based on the probability and estimate ability
of potential losses. Right, so the impact.
The repeal of SAB 121 removes a married major barrier for
traditional financial institutions to offer crypto
custody services. It allows them to evaluate their
risks using established accounting standards,
potentially leading to greater integration of digital assets
into the traditional financial system.
Now, this is exactly what Elizabeth Warren didn't want to
happen. Remember when Fidelity announced
that they were essentially going to allow Bitcoin?
They're going to allow their clients to buy Bitcoin for their
401 KS? She personally hand wrote a note
to Fidelity basically saying stop, I don't want you to do
that. Now you have to think about what
are the motivations behind this? I think the motivations behind
this is they just don't want Bitcoin or digital assets as a
whole, whether it's stable coins or altcoins, to be a part of the
traditional financial system because they want a monopoly
over money. I think it's, it's as simple, as
as simple as that. I can't, I can't come up with
another explanation. Now.
Their explanation is consumer protection, right?
My counter to that is basically saying what about consumer
protection from inflation, right?
I showed you guys at the beginning where what the F
happened in 1971. I showed you guys the data.
It's there. It's clear, right?
If you are in the middle class or if you're in the lower class
and if you want to get by you physic, you have not earned more
money since the 1970s, even though productivity has
increased by a factor of 2 and the very wealthy have gotten
significantly wealthier. This is the concilionary effect.
This is Fiat for you. What about consumer protection
from inflation? What about consumer protection
from Fiat? So when you are against Bitcoin
being integrated into the traditional financial system,
what you are telling me who is well versed in all of this and
Opti's well versed in all of this, I think all Bitcoiners are
well versed in all of this is you don't want people, you don't
want people to have the ability to save.
And I'm telling you, that is evil.
That is evil. You're taking away their hope.
You're taking away their dignity.
You're taking away their humanity.
Really. So, yeah, man, like I, I, I'm
really glad that this is happening.
We got a huge victory in Poland with the pro Bitcoin president,
which was awesome. We're getting pro.
We got Nigel Farage that spoke at the Bitcoin conference.
So yes, I mean winning across the board, but I want you guys
to stay focused. I want you guys to pay attention
and realize where we are in the movie.
Fiat politics still matter. Voting in the traditional sense
still matters. Of course, the most important
vote you can make is buying Bitcoin, earning Bitcoin, mining
Bitcoin, and putting that Bitcoin into self custody.
But keep your eye on the ball. 2026.
We got midterms coming on and I don't care if it's a Republican
or Democrat, but we want pro Bitcoin politicians in office
and we want this worldwide. We want this is a grassroots
movement. Remember, I've said this, I've
tweeted this many times. Governments think they can
regulate Bitcoin or governments think they can Co-op Bitcoin.
But in reality it's going to be Bitcoin that co-ops governments.
It's going to be Bitcoin that regulates governments.
It's going to be Bitcoin that provides a check.
It it, it gives power to the people by giving the people the
ability to save without the fear of their currency, of their
energy, of their value, of their time being debased.
Opti. Yeah, well, good rant.
Good, good Nico Jones rant to start off a Tuesday.
But Hester Pierce, I forget what people were calling her.
They call her like like the godmother or grandmother of
crypto or, or they have like a name for her.
I forget what they call her. It's something like grandmother
or crypto or or something like that.
I don't know. I I I forget what it is but you
could look it up. I think Hester Pierce is the
goat. Yeah, yeah, that's basically
what I was going to say. And Hester Pierce, I think is
she's obviously, if you guys don't know, she is, she's been a
long time Bitcoin slash crypto advocate.
She's in a very powerful position and she seems very
friendly to the industry and, and actually has a favorable
view around Bitcoin, which I think is a, you know, a breath
of fresh air here. And I saw a tweet this morning
of Frank Korba. If you guys don't know Frank
Korba is he is over at Bitcoin magazine.
He's literally has a pass to sit in the White House now as a
journalist or correspondent. And I guess there was a pub key
event either last night or, you know, over the weekend or
something like that. And Hester Pierce was there and
she had a talk and she was talking to Bit corners.
And basically Frank Korva went up to her and was just like, you
know, I talked to Hester Pierce and I was telling her that one
of the most important things she could do was basically allowing
in kind of redemptions of ETF. And there's some back and forth
there, but by the end of the conversation, she was like, you
know what, like I'll take this into consideration and I will
think about it. It.
It's obviously a vague response, but I think it's a totally
different view from what we've heard from other
administrations. You know, whether it's Gary
Genzer, who we thought was a Bitcoin maxi, even though I
truly call him a a Bitcoin maxi, what we see from the Biden
administration, what we've seen from Elizabeth Warrens antique
crypto army, they don't listen to what we're saying.
And now that we're in the room now, they are starting to listen
to us. So whether this is just
politicians pandering or, you know, people in institutional
powers pandering to Bitcoin, I think we are starting to turn a
new leaf here where they have to acknowledge what we're doing.
We're no longer, you know, a tiny asset here.
It is. It is a significant player on
the macro stage. And so the fact that we have bit
corners in a position where they will listen to what we're
saying, they will listen to, you know, the quote, industry
experts. I think this is a good thing and
something that we've never seen before because for a long time,
they were just basically like, yeah, yeah.
Like, shut up, kid. Like, you don't know what's
going on. You don't understand the game
being played. And now we basic.
Whoa, oh, man, I don't know if you guys heard that.
Mika's blowing me up over here. I lost my train of thought.
And now And now we've gotten to a point where they're listening
to us. And I think this is going to
fundamentally change and alter the the trajectory of Bitcoin
around the world because what America does, every other
country will follow. The ripples are starting.
And I think, you know, whether this plays out sooner than later
or later than sooner, things are changing in real time and you
just love to see it. Yeah, 100%, man.
And and again guys, we are winning.
Let's keep on the pressure. We got momentum, right.
Let's, let's, let's, let's not forget, let's not, let's not
take our eye off the ball. We're winning.
We got to keep the pressure. This is how we're going to win
anyways, guys, we still have a hell of a show lined up for you
guys. During the news segment, we're
going to be talking about a lot of the things that you guys are
talking about. Oh yeah, there it is, Crypto
Mom. Thank you, Kudus.
In the, in the comments, basically saying like, look like
like Bitcoin has become MAGA, you know, like it, it's
basically lost its cypher, cypherpunk roots.
And I think it's a great topic to talk about.
So we're going to be talking about that during the news
segment, So stay tuned. And then during the culture
segment, Opti's got something special lined up for you guys.
So we're going to be right back in just a second.
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Anyways, guys, let's get into today's news segment, starting
off with this Wall Street Journal article.
It's behind a play wall, but I think the the headline is just
enough. It's it's it's good enough to
kind of just set the tone. The Wall Street Journal Bitcoin
goes all in on MAGA shedding its anti government slant.
Despite wins under Trump, some crypto factions are wary of
politicizing industry Las Vegas extravaganza check this out
becomes a right wing rally. Interesting interesting.
So moving on to this next article is kind of does a little
bit of a deep dive from the Las Vegas Suns Bitcoin Bros mistrust
of government lingers even after GOP's embrace.
It goes on to say make America great again hats and crypto
themed variations of the slogan were everywhere among the 30,000
attendees at last week's Bitcoin conference in Vegas 1 booth
featured a life-size cut out of President Donald Trump bloodied
from an assassination attempt. But instead of raising his first
in defiance, he gripped a physical Bitcoin.
And each time Vice President JD Vance discussed a new Trump
administration's policy during his keynote address, the
audience erupted and barely contained excitement.
The scene suggested Trump and the Republican Party have
successfully courted the cryptocurrency community, whose
advocates poured over $200 million into the 2024
presidential campaign and are already witnessing returns on
their political investment. Gary Gensler, the former SEC
chair who garnered widespread animosity from the
cryptocurrency community for the agency's increase enforcement,
stepped down in January. And to end regulatory regulation
by prosecution, the Department of Justice shut down its
cryptocurrency enforcement team in April.
But not everyone walking the halls of the Venetian Convention
and Expo Center last week was pleased to see so many
Republican politicians like US Senator Jim Justice of West
Virginia and and Cynthia Lummis of Wyoming taking center stage
at the conference. Bitcoin's anti establishment
origins clash with the reality that the crypto, that the
cryptocurrency had become part of the very system it once
opposed. So I like, let's talk about
that, right? So here I'm gonna highlight it
for you guys. So you guys could it's a very
interesting conversation. I'm glad we're talking about
this. When Opti and I initially
brought this up during the previous election, we got a lot
of crap for it. Like we were basically saying
like people were basically saying like, look like you guys
are sell outs. Like, you know, why are you
talking about politics? Why are you talking about Trump?
Like why are you talking about this?
Like what are you guys doing? This is a Bitcoin show and the
case that we are making for you guys is if we want Ross free,
you have to throw your political, you have to throw
your hat in the ring. If you don't want to get
persecuted, regulate from a regulatory perspective, you have
to be in the room while the deal is being made.
So you have two choices. You either choose to pull an
ostrich and pull put your head in the sand metaphorically and
just pretend nothing's there, or you continue bouncing from
jurisdiction to jurisdiction, or you plant a flag and you have
pro Bitcoin politicians in office that are representing
your interests. That's the whole point of a
representative democracy, which is the United States and most
countries around the world are democracies at this point.
So unfortunately, you really have a choice between two.
Do you want a pro Bitcoin person in the position of power or do
you not want to pro Bitcoin person in the position of power?
And to say otherwise, to say that it doesn't matter is
completely naive. An example of that is El
Salvador. I mean, you had a country where
essentially it was, you know, one of the most dangerous
countries on the face of the planet and they got a pro
Bitcoin president in the in you know that in the presidency,
they made Bitcoin legal tender and it became one of the safest
countries on the face of the planet.
So like we always talk about the separation of money and say we
always talk about that. We always talk about how we want
to give back power back to the people in the way that you do.
That is by the people opting out into a money that can't be
debased. We always talk about that
subject. The way that you do that is by
increments, right? It's by moving the Overton
window. Four years ago, if I told you
there was going to be a pro Bitcoin president in the White
House, you would have laughed me out of the room.
You just said that's not going to happen, that's impossible,
That's not true. It happened and now you have a
pro Bitcoin president whose family is buying Bitcoin.
He's indicating that he has the intention to create a strategic
Bitcoin reserve and accumulate more Bitcoin in a budget neutral
fashion. Is that better or worse for
Bitcoin? It's better from a number go up
perspective. It's better from a regulatory
perspective. Is it better from a
revolutionary perspective? No, because the revolution is
people, individuals taking Bitcoin into self custody.
That's how actually things change.
But it's not black and white, it's Gray, and there's full of
nuance. And just to kind of take this
attitude where like, the system is so broken, I just don't feel
like participating. If we all took that attitude,
Ross would still be in prison right now.
So just something to keep in mind.
Operation Choke .2 Point O would still keep going.
So anyways, it goes on to say Eric Kasson took a hit of his
vape on the conference secondary stage.
Hours after Vance finished speaking, the panel's moderator
asked him what he thought of the state.
And he goes on to say all of this is true.
Bitcoin works without the state, he said to the around 100
attendees attend inherently listening quote.
You can own Bitcoin today and exit from this establishment
that that's designed to steal from you and redistribute that
money towards war and horror. That is not a hyperbolic
statement. When they print money, that's a
that's a wealth redistribution mechanism.
Why do you think there's endless wars?
In the Middle Ages, when the king ran out of gold, the war
would end. When you have a money printer,
you can continuously fund that war till the end of time, right?
That wasn't a unique opinion amongst his fellow panelists.
An OG Bitcoiner on the community's podcast circuit who
goes by American Huddle said that there's a real risk that
Bitcoin could lose its status as freedom money the more it cozies
up to the government. And Bruce Fenton, a New
Hampshire Bitcoin investor with 125,000 followers on X, said
politicians need us more than we need them.
I think that's something else to keep in mind.
Remember, do you think Trump did this out of the kindness of his
heart? Do you think these countries are
changing their stance on Bitcoin out of the kindness of their
heart? The fact that Bitcoin that that
Trump campaign towards Bitcoiners is a testament to the
power of our movement. He needed the votes and we gave
him the votes because he came through.
That's the whole point. That's how a representative
democracy works, right? It goes on to say we live in a
state worshipping society and you hear people even at events
like this. Oh boy, the Under Secretary of
this, the elected official here, who cares?
Fence and ask the crowd we should refuse meetings with
them. We do not need these people.
I disagree with that, by the way.
I think there's nuance. There's Gray areas, right?
There's there's, there's President Trump, JD Vance, the
Bitcoin senator, Senator Cynthia Lummis.
I think they've done amazing things for the industry and for
Bitcoin as a whole from a regulatory perspective.
So I disagree with that statement anyways.
It goes on to say here, the community's distrust of the
government goes back to how the technology behind Bitcoin works,
said Nico Moran, host of the daily YouTube show Simply
Bitcoin. The original white paper for
Bitcoin set out to create a transaction transaction system
between two people that didn't need a trusted third party, and
Moran said one of the selling points is being able to use
money the government can't access.
Moran added that historically the community has been less
interested in politics, though that changed under President Joe
Biden. Bitcoiners were forced at the
throw their hat into the ring due to aggressive enforcement
under Biden's tenure and despite Trump delivering on his pro
crypto promises, Moran said most of the community does not like
the industry cozying up to government officials.
Even still, sometimes you have to play the game, which is what
I've been telling you guys for months now.
If you're not in the room, you're not in the deal.
And we're not, we were not in the room in the sea for a very
long time. We're in the room now.
I think Bitcoin score is incorruptible, and I think it's
always going to have this leave me alone type of mentality.
But the proudly counterculture Bitcoiners walking around the
Venetian have baggage of their own that may limit their ability
to go mainstream. I disagree with that part, but
you guys get the general gist of it.
Yes, we're going mainstream without a shadow of a doubt.
Yes, the institutions are here without a doubt.
Without a shadow of a doubt. Yes, politicians are getting
involved. Regulations are being talked
about. Bitcoin Act, the approval of two
strategic Bitcoin reserves in Texas and New Hampshire.
These things are all happening. But Jeff, Jeff Booth's quote
comes to mind. With Bitcoin, you have to get OK
with even your worst enemies using the technology.
That's how it works. That's how it is.
Bitcoin is for anyone, and you have to get used to it.
That's the reality, right? So look, we have two choices.
We either choose to get sit on the sideline and just pretend
politics don't matter. Or we choose to get involved and
we choose to get our interests pushed forward and protected.
As Bitcoiners, we have the influence, we continue to get
wealthier. We have a voting, we have a
voting demographic block. Why not use that to our
advantage? I think we all want to move to
the world of the sovereign individual, where politics don't
matter because the state no longer has the ability to create
money out of thin air. I think we all want that future.
We want a future without central banking.
I think we all want that. But there's steps and there's a
process and you have to play the game in order to get there, and
I think that's the tough pill that Bitcoiners are going to
have to swallow. Opti.
Yeah, well, I think you guys know me by now.
I I do. I do fall more on the lines of
the Eric case on fuck the state kind of vibes here.
But as the saying goes, you know, you may not be interested
in politics, but politics is interested in you.
And if you're even semi awake at this point, you understand
politics does affect our lives. And so I don't, I'm, I'm not
against Bitcoin Co opting both sides of the aisles to get our,
you know, what we want done. I want to, I want to say this Co
opting both sides of the aisle democratically right through the
voting. Yeah, yeah, yeah, by incentives.
By incentives, basically. Like I, I'm okay with using any
part of the aisle to further facilitate what we want to
happen, obviously in a legally democratic, you know, Republic,
constitutional Republic kind of way.
I really do believe in the incentives of Bitcoin and that
once you align yourself to the incentives of Bitcoin, then it
really does fundamentally rewire your brain and rewire your point
of view. And I think this is going to
also happen on the political layer as well.
Like, look, love or hate the Trump's, look, it's what
happened to the kids, if anyone there.
And they even said it themselves, you know, like
they're not just here for a fad. They understood the necessity of
Bitcoin. And now they're fundamentally
trying to grok what's going on here and of course, be an
advocate for this because one, of course they're incentivized
to do that. And two, they see the need.
They've realized that, hey, look, if I don't want what
happens to me and my family, I need to adopt Bitcoin and then
further show that to more people.
And so, well, again, Nico's more of a one issue voter on this.
I, you know, you guys know my takes on, on voting and stuff,
but I think if any one of the aisle is for pro Bitcoin stuff
and they, they're actively and obviously verify that they
really are Bitcoiners, then I think we should be able to use
the political means as much as possible to get Bitcoin through
the door. And as we've seen, this has had
very clear and immediate consequences in regards to this
election. So yeah, the Wall Street Journal
is taking a, you know, a slanted bias take on what's going on
here because, you know, David Bailey and his, what was it SPAC
or C PAC? They invested a lot of money
into the Trump administration as we saw, you know, Trump came out
pro Bitcoin, the Harris campaign were obviously more pro CBDCS.
And it's actively and again, very quickly made an effect on
what's going on here. And that's not just for the US.
This is this is international at this point, like we talked about
it yesterday, Napoleon just elected a pro Bitcoin president.
We're seeing China change its tune around Bitcoin.
We're seeing they're using Taiwan as a proxy.
We're seeing Russia go into bit bonds and yesterday or rather
maybe this morning we saw Korea elect a president that is also
pro Bitcoin. This is the wave and this is the
trend. I think we've said it on the
show for a long time that if you're not pro Bitcoin at this
point, or maybe this is just the beginning of it, but if in the
future you want to run for politics, I don't know why you
would want to. But if if you do have that
ambition, you're going to have to be pro Bitcoin.
And we're seeing this play out in real time.
Like we can say Bitcoin is apolitical, but the most
political movement in the world is obviously an apolitical
money. And so I don't think it's above
what Bitcoiners want to do is to essentially use the system, use
the beast as it is and have Bitcoin be a Trojan horse and
get what we all want to see in the future.
It's not going to be perfect. I know a lot of ideological
Bitcoiners don't like how it's happening because it's, it's not
happening exactly as they, you know, foresaw it happen.
But I think it's happening as it should be.
And in the future, I'm pretty sure the Bitcoin future, the
orange future that we're talking about is going to happen with or
without these politicians. But if we have them on our side,
I think it'll be a lot easier. And of course, if they get off
our backs, it's going to be a lot easier for us individually.
So in the end, all roads lead to Bitcoin.
We're going to win. I I'm OK with it.
Absolutely all roads lead to Bitcoin.
Alright everybody, we're going to hit the culture segment.
We have tons to cover. We will be right back in just
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All right, everybody, we are back and Opti is launching a
paid. Group you can't see this.
Opti is. No, no, no, I'm not.
I'm totally not you. Can.
Go to actually here is my free paid group advice that if you
want to pay me, you know what? I don't know what the paid group
prices are $1000 a month for. It's literally just smashed by
Bitcoin. Every time you have Fiat there
is your paid group advice. No, this is kind of a meme.
And I see everyone in the chat and I actually saw a comment
earlier and someone's like, with all this good news, why isn't
the price going up? And this is probably the
question everyone's asking right now.
It's like we're getting literally the most bullish news
cycle ever and supposedly some of the biggest buys in Bitcoin,
but the price is still kind of going sideways.
What's going on? And Jason Williams, AKA going
parabolic on Twitter, he did this funny tweet, this one, he
goes, Bitcoin is the only market in history where buyers come in,
buy 1 billion, $10 worth of the asset and the price goes down.
That's how markets work, right, Right, guys, isn't this what's
going on? And, and essentially the, the
joke here is with all the amount of buys that we're hearing from
Metaplanet, MicroStrategy, 21 Capital, you know, potentially
nation states buying, we're having hundreds of Bitcoin
treasury companies pop up everywhere.
They're scooping up and BlackRock, you know, they're
scooping up literally more Bitcoin than a year supply of
Bitcoin that will be mined throughout the year.
Like what is going on? The, the ETF is the most
successful ETF launch ever. They're holding, I don't know,
hundreds of thousands. I think it might even actually
it's millions of Bitcoin at this point.
We know MicroStrategy themselves hold half a million Bitcoin and
there's new entrance every single day.
And you think with all of this buy pressure, something would
happen and the price of Bitcoin would go up?
Well, yes and no. I think when you just think of
simple supply demand economics, there's probably a lot of OG
holders that are selling their Bitcoin or rather nation states
dumping their Bitcoin holdings. We still have not heard back
with what is going on with the US Bitcoin.
Show me them coins bro. Where is the audit is the big
question. Anyways, I say all that to kind
of breakdown for everyone, this great article from Coin
Telegraph. Now we all know Coin Telegraph,
it's a little shit corner, but they did do a good article on
what moves the Bitcoin price. And I'm not going to read the
whole thing. I'm just going to kind of break
it down, but I'll read the conclusion, which I think is the
whole signal here for every one of us.
So the title is who really controls Bitcoin price in 2025?
Whales, devs or governments? Explain.
And then it goes into how do the whales influence Bitcoin, you
know, market makers, etcetera. It's talking about the number of
wallets holding 1000 plus coins, whether they're Ogs or whether
they're exchanges and and hedge funds.
But there is an interesting number here.
And of course, as I mentioned, BlackRock and strategy alone
hold a shit ton of Bitcoin. Forgive me, I know this a family
friendly show, but together the two firms control an estimated
6% of the total Bitcoin supply, a staggering figure in an
ecosystem with fixed issuance and increasingly thin exchange
liquidity. Now, the point that I think a
lot of Bitcoiners, or rather even us who've been here for a
long time, we always hear about the whales, you know, oh, it's
the whales suppressing the price.
Oh, it's the whales pumping the price.
Well, from their data points, it's starting to show that
there's essentially two different whales being played
out. We have the OG Bitcoin whales
that one to accumulate Bitcoin for the long term and we
seemingly have the new institutional interest here from
the hedge funds that are looking for more short term capital and
it goes. Whales aren't necessarily
hodlers either. They buy at scale, take profits
on strength and often offload right when retail piles in.
Since the start of 2025, several major corrections have followed
large inflows to exchanges from whale wallets, a pattern on
chain analysts flagged as early as February.
On the flip side, stretches of dormancy and whale wallets have
coincided with upward price momentum, including bitcoins
climb past 110,000. That said, not all whales are
short term traders. Data from Crypto Quaint shows
that long standing whale addresses have realized just 675
or $79 million in profits since April, while new or large
holders, largely likely hedge funds or high net worth
individuals, have taken over $3.2 billion off the table in
the same period. This suggests A bifurcation
early wears whales here to be consolidating for the long haul
while new entrants are quicker to cash out.
And I think we've been seeing this in the data ever since the
institutions have coming the, you know, high frequency
traders. We have seen some interesting
stuff on the chart where it's kind of breaking from old
patterns, which I I think again is going into this idea of like
maybe this time is different. Maybe we're going to get a
longer bull, bull, bull cycle and a bull cycle.
Hold on, I'm choking over here guys.
Whale behavior may be nuanced, but the impact remains blunt.
Whether they're accumulating or distributing, these entities
continue to play an outside's role in setting the tone and
direction of bitcoins price action.
Obviously if you're familiar with markets, you know, the
market makers are really in control or if you're more, you
know, tinfoil have bitcoiners, you're probably thinking the
exchanges are trading against you and those are probably the
whales. This is why we don't recommend
you guys trade. Next is this idea of can the
developers influence the Bitcoin price now indirectly they can
essentially by, you know, implementing new upgrades.
We haven't seen many in in the past few years.
There's a lot of talk of some new upgrades.
There's even been talks about hard forks, which I think
probably is off the table. But TLDR, the debs don't really
influence the Bitcoin price. Yes, there is some hype and
there is some correlation with new upgrades to Bitcoin and the
price going up. But essentially, you know, they
they can make it look better, but they're not the ones really
driving the price. If anything, it's the whales.
Now moving forward, the second or third one is how governments
don't control Bitcoin but still move the market.
Now this may change because we do have a lot of rumors or a lot
of talk about nation states buying Bitcoin.
And if they do go into buying millions of Bitcoin, then that's
obviously going to move the price or rather maybe the price
floor of Bitcoin. But from their take, they don't
necessarily move the price, but they can hamper the price with
regulations or the China ban, etcetera.
There is ways that governments can essentially stifle the
Bitcoin price runs as we saw in 2021 when China had the mining
ban. But essentially the regulations
are, you know, some red tape to basically scare away investors
from Bitcoin. And this is where it all kind of
comes together. What drives Bitcoins price?
Who really controls Bitcoin's price?
It's not the whales alone. It's not the core devs.
It's not the SEC, the Fed, or the Chinese Politburo.
It's all of them, and none of them tangled in a decentralized
tug of war where power is shared, situational, and
constantly shifting. One.
Whales still move volume, especially in illiquid moments.
Developers shape the protocol, laying the rails for future use
cases. Government add pressure or
permission through regulation, taxation and enforcement and
macro forces, interest rates, inflation and dollar strength
set the broader risk appetite. But those are just the headline
players sentiment to hold the real way.
Retail euphoria can create parabolic runs.
Institutional caution can trigger sharp retreats.
Even social narratives from AI hype to global instability now
influence how Bitcoin is positioned in portfolio and
2025. You seen this interplay in
action spot ETF approvals brought record inflows but not
always sustained rallies. Regulatory crackdowns in one
region where we're met with growth in another.
Whale movements triggered less panic in calmer markets.
And sometimes the biggest surges came from narrative momentum
alone, not fundamentals. That's the paradox of Bitcoin.
It's decentralized but not immune to influence.
It reflects belief, behavior and a constant negotiation between
users, builders, institutions and regulators.
The price is less a verdict than a pulse tracking confidence,
uncertainty and conviction in real time.
And as we've been covering on the show, we have yet to see
retail come in. And now you could arguably say
that maybe retail won't have the impact that it's had in the past
'cause now we really have the institutional deep pockets come
in. We have the nation states coming
in. But we are seeing something go
on that I've always called, you know, the billionaire Fudd
playbook. We literally saw Jamie Dimon
last week basically concede to the idea that his customers want
Bitcoin. So I would just argue, guys, as
we always say, chill out, zoom out stacks ads.
The price is going to run. Now what is going to be the last
straw that breaks the camel back for it to really start pumping?
We don't know what that catalyst is going to be, but it's
starting to play out in a way where I'm I'm starting to feel
feel it, Nico. I'm starting to feel it in my
oracles here. It's going to start moving.
It is moving. I can feel it in my plums, Nico.
It's gonna it's gonna start ripping.
I think everyone watching Bitcoin and you can almost see
the sentiment as well, not only just like in the chat, but on
Twitter. This is why everyone's arguing
about stuff is like when the price goes sideways or it goes
down. This is when Bitcoin corners
attack each other and when it goes up, that's when we get
euphoric. And I, I think we're saying
seeing this dynamic play out in real time, but something's going
to break Nico and. It's going to.
Break upwards. Upwards 100% I mean, look, I
we've been saying this for quite a while now.
I think this is the most bullish cycle from a news perspective,
from a price action perspective, this has been one of the worst
cycles to be honest with you. I think it's just a matter of
time before the price action catches up with all of the
insane news that is happening. And just to kind of show you
guys Google trends, right? You know, we had like kind of
like a mini blow off top in November and December where
people were searching Bitcoin back in 2021.
There was interest, but we haven't we haven't reached the
euphoria of 2017. We haven't gotten back to that.
You know, we have not even got him back to the euphoria we.
Haven't add him back yet. To the to the euphoria of of
Bitcoin being surged since 2017, right.
So I think those days are going to come back.
I think 2021 was artificially cut short because of the China
mining ban. I think with everything that's
happening, the general consensus that I feel this cycle is
everyone is like kind of bearish in a way.
Like it's like, look like, you know, Bitcoin's gonna hit
150K200K. You know, this is it.
And, and, and I'll tell you this guys, normally when everyone is
predicting a price, that's not how it works.
Like no one knew in 2017 when Bitcoin was at $1000 that it was
going to end AT20K. No one in their right mind knew.
It just became this like mania phase.
And I think there's a probability of that happening
again. Like there's a, there's a zero
chance, you know, probability that, that that happens again.
And I'm all for it. But again, you got to stay
humble, stack sats and hold on for dear life.
Like that's really how Bitcoin works.
You know, Nico, everyone actually this one's kind of the
consensus that I, that I heard from a lot of people at the
Bitcoin conference, you know, just jokingly and, and kind of
trolling a little bit. You, you always ask people like,
what is your Bitcoin price prediction?
And so many people said like, oh, I think 150, 160 and like,
me and like Ruston are looking at each other and we're like,
yeah, look at all these bears like that.
That's so bearish. And then I don't know if you
guys caught the interview I did with CJ.
It was absolutely a banger. And I think he was the only
person that with a straight and sober face said, yeah, we're
going to like 321 easily by, you know, data points.
And I was he's like, yes, this is my kind of dude.
Like this is the kind of Bitcoin that I like all these vanilla
150K. I'm like, bro, get out of here.
What are you even doing here? Like 150 K.
This is what are these numbers for ants?
And then and then CJ is like 321 K period.
Go check out the interview. He'll he'll break down all the
masks for you. It's on our channel already.
He he killed it. Love, CJ.
Absolutely. All right everybody that was
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