23 Burst results for "Michael Sailor"
Simply Bitcoin
A highlight from Saylor Now Own's Almost 1% of All Bitcoin, BUYS MORE | EP 831
"Yo intro first You're against freedom Yeah, we're gonna salute Bitcoin live we're your number one source for the peaceful Bitcoin revolution for breaking news culture manic warfare We will be your guide through The separation of money and state. I hope everyone had an amazing effing weekend I did I got to chill, you know everyone on the weekends like man like like what'd you do? What like, you know, what did you do anything crazy news, whatever? No, man I stayed home and I chilled and I relaxed because the week, you know, it's the Bitcoin rollercoaster making Bitcoin media You know, it's a grind. I'm not gonna lie It's very purposeful and I'm very very grateful and privileged Opti and I are and the rest of the simply Bitcoin crew But but it is it is quite a bit of a grind. So on weekends, I get to chill. Anyways enough of that breaking news Michael Saylor buys Even more Bitcoin the man or micro strategy better said now owns almost 1 % of all Bitcoin sky talk about Conviction this is conviction Michael Saylor is proving to the world and this is something that I've been saying guys in the next two or three years it is going to be Undeniable, it's gonna be an undeniable fact that naim bukele's Bitcoin strategy and Michael sailors strategy on the public company level is Going to be an alternative than holding fiat currencies on their balance sheets Especially with the FASB rule changes, especially with the Bitcoin ETF around the corner there They're gonna they're trying to do whatever it takes and I believe it's politically motivated I'm not the only Bitcoin or that has said this by the way That they're you know, they're trying to slow this down But it's gonna be undeniable and they're gonna have a very hard time Debunking this that Bitcoin Itself, it's just a better money It's just better money and governments are gonna have a hard time disputing that and the reason they're gonna have a hard time Disputing that number one is because they're always going to do they're always gonna want to debase their currency They can't afford the endless wars. They can't afford sending billions of dollars to Ukraine If they didn't have the money printer, so they're gonna have a really hard time explaining that away and number two Censorship, of course, right and the control on money itself, right? A lot of the reasons that the BRIC nations have sought alternatives to the US dollar Not only because the US government is printing a ridiculous amount of money but also because they've politicized the money they've weaponized the money against their political opponents and Fine, you could you can make the argument. I'm not gonna I'm not gonna make those judgments the government of North Korea are bad Okay, and the government of Russia is bad the government of Cuba is bad. I'm not gonna get into those arguments, right? but let's talk about The vast majority of people that live in those countries that are not have nothing to do with the government They're just like you and you and me. They're just trying to get by they get caught in those sanctions they have nothing to do with it and The system that they want you to live in is if you live in a certain if you were if you happen to be born in a certain country You happen to have certain political beliefs. You are not entitled to have to open a bank account You are a danger. You're a risk. Well Bitcoin is for you Bitcoin is your money it works. So they're gonna have a hard time and this is why we call it the separation of money and state This is why we bring up the book the sovereign individuals so much because it absolutely Hit the nail on the head this what we're living through right now, but it's not only money It's also the disintermediation of information which is happening at the same time. You're seeing it with the Russell Brand stuff You're seeing it with the Tucker stuff Independent content creators are now getting more views and more traction than the legacy corporate media of which they cannot control and that freaks them out too, so After we got over this hill after we endure this this this bumpy transitionary period and if we win the race to avoid the war I Agree with Corey Clifton from swan I think that there's a bright orange future ahead of us and I've never been so pumped about it But I got to say one last thing before I bring up my legendary co -host Michael sailor Please leave some Bitcoin for the rest of us. Anyways Opti. How you doing, brother? I'm doing great man doing great. I also unplugged this weekend. It felt good I was literally joking with everyone in the spaces. I literally lived the meme. Did you guys catch the game this weekend? I unplugged completely what game did he catch? I caught all the games. I didn't do anything yesterday I literally did not a thing yesterday, but watch football Throw tomatoes all you want, but it was it's a great weekend It's good to be a big corner and then also guys mad sailor leave some Bitcoin for the rest of us she It's almost like you taking it all it's almost like you trying to buy all the Bitcoin. Yeah. No, he definitely is bro He he owns 1 % he almost owns 1 % of every Bitcoin. We're at that point. We're at that point in the movie, dude Well, I think this is the PSA where we tell everyone to stop selling your Bitcoin to Michael sailor and huddle onto them coins We're in the dark it actually I saw a good tweet before we go on Nico I saw a good tweet this weekend and it was something on the lines of like Dang, I wish I could remember but it was something like Willy. Woo is bearish Someone there is another part and then it's like and Bitcoin maxis are watching d3 football like if you can't tell that this is the deepest parts of a bear market Like are you even watching there? It was a great tweet I wish I could say it off the top of my head But as you can tell we're in the deep parts of the bear market I hope you guys are stacked and I hope you guys are getting your cash flows up and Just you know getting your body right mine, right? This is the time to get your UTXOs in order to make sure that everything is copa static as we move into a crazy Bull run. Anyways, Nico, we were gonna have a guest today But I'm kind of glad that they didn't show up because I wrote an article for once guys And I'm actually really hyped on this one so I'm gonna read it for you I'm gonna do my best guy Swan impersonation today, and I I think you guys are gonna really like this one So, I don't know it. It's got a lot of soul. It's got some spirit in it It gets me hyped up and maybe I'll give you context for it. I'll just read it and see what Nico thinks He I don't even think Nico seen this yet So I'm excited to get his response his reaction to we're gonna do a reaction video on today's simply Bitcoin Anyway, you go let's get into the show. Are we gonna get a Nico Jones take today? Are we gonna get a wild Nico John? I think so. We got something spicy for the numbers, bro. Let's jump in today. I bet The Bitcoin numbers is your Bitcoin in cold storage really secure is your seed phrase Really secure stamped seeds do -it -yourself kit has everything you need to hammer your seed words into commercial grade Titanium plates instead of just writing them on paper Don't store your generational wealth on paper papers prone to water damage fire damage You want to put your generational wealth on one of the strongest metals on planet Earth? titanium your words are actually stamped into this metal plate with this hammer and these letter stamps and once your words are in they Aren't going anywhere. No risk of the plate breaking apart and pieces falling everywhere Titanium stamped seeds will survive nearly triple the heat produced by a house fire They're also crush proof waterproof non -corrosive and time proof all things that paper is not allowing you to huddle your Bitcoin with peace of mind for The long haul stamp your seed on stamped seed. All right, everybody. I literally made it super frickin easy Don't put yourself in a situation while you lost Why you have to explain to your grandchildren while you lost your generational wealth because you stored your seed on paper store it on Titanium scan the QR code on your screen use promo code simply get 15 % off anything on the stamp seed website anyways at the time of recording The Bitcoin price is twenty six thousand three hundred and forty sats per dollar three thousand seven hundred ninety seven block height eight hundred nine thousand three hundred and three blocks to having Thirty thousand six hundred ninety seven having estimate April 21st 2024 total lightning network capacity four thousand six hundred seventy three Bitcoin Capacity value one hundred twenty three million u .s. Dollars realized monetary inflation one point seven five percent the market capitalization of Bitcoin 513 billion dollars with the B Bitcoin verse gold market cap three point nine nine percent All right, everybody so Opti said Nico Jones ran potential Nico Jones rant What what is this potential Nico Jones rant gonna be about? Well, we've talked about the you know It comes from like the political front this this this saying but I'm gonna apply it to Central bankers, I'm gonna apply to politicians Right, and there is something in the in the political Rhetoric recently and it's called the iron law of something projection, right? So we're gonna take away the political rhetoric because we believe on simply bitcoins not left versus right, right? It's a party of orange versus party of green party of central bank digital currencies nihilism poverty slavery versus a party of freedom Bitcoin Prosperity opportunity optimism, right? So that's really what it's about But I'm gonna take that rhetoric because it is very very powerful rhetoric and I'm gonna say the iron law of central bank Politicians projection never fails it never frickin fails let me introduce you to senator Mendez of New Jersey and let's take a look at what he has to say about Naeem Bukele of El Salvador We have an increasing challenging situation in El Salvador one that threatens both the future democracy in the country and bilateral relations of the United States Over the last two years president Bukele has presided over a number a number of alarming setbacks for democratic governance undermining judicial independence intimidating opposition lawmakers by using security forces to occupy the legislature negotiating political pacts with gangs regularly attacking journalists and media outlets and In addition to these actions Bukele has also repeatedly used his network of Twitter trolls to attract and to attack And threaten not only government critics within El Salvador, but also United States officials We have an increasing challenging situation in El Salvador one So this is just internalize everything everything that this guy said right, you know senator meant You know, he sounded so legitimate.
Simply Bitcoin
A highlight from Michael Saylor: Bitcoin to $5 Million is Inevitable | EP 824
"It's all going to zero against Bitcoin. It's going up for everyone. Bitcoin! You're against Bitcoin, you're against freedom. Yo! Welcome to Simba the Bitcoin Live, we're your number one source for the peaceful Bitcoin revolution cover breaking news called dramatic warfare will be your guide through the separation of money and state today is September 14th 2023 another day in Bitcoin another day on the Bitcoin roller coaster they don't call the Bitcoin roller coaster for no reason there's ups and downs we hit 25k we're back to 26 ,697 but if you zoom out if you zoom out in the grand scheme of things if you believe in the meme 21 million divided by infinity or infinity divided by 21 million I think it is we all know we're early but there's something I want to talk about today specifically there was a very famous spaces that Michael Saylor did and I think he did it with some some legacy media people there's a huge spaces and there was three things that he said needed to happen in order for Bitcoin to 10x and then during that spaces he even said if these thing if these three things happen Bitcoin will inevitably hit five million dollars per coin now what were those three things first thing was the changing of the FASB rules right with the accounting the fair value accounting rules and that happened not too long ago we broke the news I wasn't there I had some swan duties that day but Opti and I think it was Rustin were holding it down so we covered that and then number two was large banks right I'm not talking about like small banks or you know these these Bitcoin crypto focused banks I'm talking about large banks offering institutional custody of Bitcoin of digital assets for their clients check that off that's happening you have banks all around the world whether it's Panko Santander the news that came out today which is I wanted to cover this is Deutsche Bank is applying for a license to custody digital assets for their customers and then there and the third thing which has been like the big news of this year is the BlackRock spot Bitcoin ETF or now I would even I wouldn't even call it the BlackRock just a Bitcoin spot ETF those are the three things that Michael Saylor said needed to happen in order for Bitcoin to just go parabolic into this five million you know etc etc and those things are basically already happening like the FASB check that off right that was a huge does a massive deal so check that off the list that doesn't start that doesn't start going into action until the year 2025 then you have so that's the FASB ruling then you have banks large banks cussing Bitcoin check that off the list as well really the only thing out of those three things is the BlackRock spot ETF or sorry the spot I keep saying BlackRock maybe it's a Freudian slip the spot Bitcoin ETF how long will Gary Gensler be able to delay this he got absolutely hammered in in Congress there was a hearing this week so yeah I mean this is pretty crazy and it's really interesting if you've been here for a while you know Opti and I are class of 2016 Opti's class of 2017 but it's the same epoch really you know one of the narratives that existed when Bitcoin was falling you know it fell from 20k back down to 3k and one of the coping narratives all the way down was the institutions are coming the institutions are coming the institutions are coming I think you could say without a doubt that the institutions are here you can't deny that now the thing is do the institutions have the necessary infrastructure to onboard on to Bitcoin and I think that's an open question but you can't deny that the institutions want exposure to Bitcoin that's undeniable right we broke the news the other day that BlackRock had a lot of micro strategy had a lot of exposure to public to publicly traded Bitcoin mining companies as well right so it's some very interesting stuff now here's the thing though right so yes this number go up whoop -dee -doo but remember the revolution is individuals taking back financial sovereignty by taking Bitcoin into self -custody so just because you're buying a Bitcoin spot ETF for BlackRock's Bitcoin spot ETF do Charles Schwab or Robin Hood or whatnot that that isn't real Bitcoin that's paper Bitcoin that's an IOU the only way that you get true real Bitcoin is by you know buying Bitcoin earning Bitcoin mining Bitcoin and taking that said Bitcoin into cold storage right and then preferably the step after that is stop trusting someone else's copy of the blockchain run your own run your own node the one I recommend personally because it's the one I use is start 9 they're freaking awesome so definitely check them out if you're interested in running a Bitcoin node but yeah it's a very interesting times that we're living in but uh you know I don't think I've ever been so bullish how you doing Opti and we're in the the simply Bitcoin merch today bro you're modeling I love it yeah yeah it's uh it's raining right now it's it's officially hoodie season so you're raining but you're inside yeah whatever I feel like wearing a hoodie today if it's nice it's comfy I'm wearing this all the time get yourself one at simply Bitcoin calm yeah man it's hey let your boy live for once geez yeah crazy you're not in uniform bro you you went from collared shirts to hoodies what happened you're regressing well suits coming soon I had a conversation with Chris yesterday I missed that episode man I love Chris shout out the coin shout out our boys over a Bitcoin mag but yeah crazy uh crazy developments and we really talked about it yesterday as well pretty pretty extensively on the show of how it is undeniable that the institutions want your Bitcoin there is so much institutional investment and there's just so much capital waiting on the sidelines for everyone for to get a shirt into Bitcoin you know like all the biggest asset managers well not all of them but many of the big asset managers of the world are looking to get exposure to Bitcoin we're seeing huge banks do the same thing and it just goes to show you that you guys are early and we are on the precipice of an amazing bull run as far as I'm concerned and now is the time to be stacking sats it's still what 26k so like we got the best opportunity ever and I know everyone is losing their mind because this bear market's been so long but this is where legends are made anyways on today's culture I saw this a couple tweets from Tom Luongo and if you guys aren't familiar with him he's a great I guess you call him like he is kind of low -key a gold bug and I know he's kind of maybe loosely understands Bitcoin but he created this meme in and I really wanted to touch on it today because it kind of changed my views on what we've been talking about we're always talking about you know the normies out there or in the not so nice way you know the sheeple out there and he coined this new phrase about like the masses comfortable are our wolves and I really want to cover this because I think it does change the framing and it's a little more positive view on what's going on in the world and we talk about it constantly that people need to feel pain and once they feel that pain and they wake up man shits gonna get really crazy and it really does feel like this is where we are right now so you know just prepare yourself it's it's you know are we on the precipice of a global recession who knows are we you know are we currently in a depression I don't know the official numbers are lying to us but we know that inflation is higher than they want and your purchasing power is going down the drain and I have these conversations with a bunch of my Bitcoin friends and we're all feeling the same thing it's like man dude things are getting more expensive and it's only a matter of time until people start to ask what the hell is going on right now and this is why we keep planting the seeds here on the show you know in personal conversations with people in real life and it's like we have built the foundation for people to protect themselves to get on the exit boat get on the safety net which is Bitcoin so get on the Bitcoin standard guys get on the Bitcoin standard that's right just get on the Bitcoin standard get on the life raft and you know you be watching the world around you doing doing its thing but you know that your future your family's future your wealth your time your energy your work is protected by the largest decentralized computing sorry I'm laughing at the chat you guys are wild breath the Bitcoin numbers is your Bitcoin in cold storage really secure is your seed phrase really secure stamped seeds do -it -yourself kit has everything you need to hammer your seed words into commercial grade titanium plates instead of just writing them on paper don't store your generational wealth on paper papers prone to water damage fire damage you want to put your generational wealth on one of the strongest metals on planet earth titanium your words are actually stamped into this metal plate with this hammer and these letter stamps and once your words are in they aren't going anywhere no risk of the plate breaking apart and pieces falling everywhere titanium stamp seeds will survive nearly triple the heat produced by a house fire they're also crush proof waterproof non -corrosive and time proof all things that paper is not allowing you to huddle your Bitcoin with peace of mind for the long haul stamp your seed on stamped seed that's right ladies and gentlemen don't put yourself in a position where you have to explain to your grandchildren while you lost your generational wealth because you decided to store it on paper store your generational wealth on titanium one of the strongest metals on planet earth you could scan the QR code on your screen right now to take you directly to stamp seed website use promo code simply get 15 % off at the time of recording the Bitcoin price is twenty six thousand six hundred and forty sats per dollar three thousand seven hundred fifty four block height eight hundred thousand eight hundred and seven thousand six hundred fifty blocks to having thirty two thousand three hundred and fifty having estimate April 22nd 2024 total lightning Network capacity four thousand seven hundred seventy six Bitcoin capacity value a hundred and twenty seven million US dollars realized monetary inflation 1 .75 % the market capitalization of Bitcoin five hundred and nineteen billion dollars with a B Bitcoin versus gold market cap four point zero seven percent very very very nice all right good numbers overall you know I love my favorites that I always tell you guys this is the realized monetary inflation of Bitcoin 1 .75 % that number is going to continue to go down forever so it continues to take fiat currencies absolute school even if they get it to their targeted Holy Grail 2 % inflation you know it's not even gonna come close anyways I do have some ways you got my favorite number is block height cuz that number is going up forever Laura that that that number just it just makes an all -time high every ten minutes the matter what next block it's almost like a coin walk next block anyways here's a clip I have two clips for you guys here's a clip from SEC chair chair Gary Gensler and he said some interesting things at the hearing we're gonna play you some clips of this hearing as the days go by though so let's check out this clip and I have another one then we'll talk about it and help protect Americans from the crypto abuses that cost consumers billions if they were to live up to the investor protection built into their current laws it would help investors but right now unfortunately there's significant non -compliance and it's a field which is rife with fraud abuse and misconduct and help protect Americans from the so I I want a friend two things right I agree in a way and I agree in the sense that it is full of fraud it is full of abuse it is full of misconduct now the initial part and help protect Americans from the crypto abuses that cost consumers billions I'm gonna reframes that right from the crypto abuse that cost consumers billions fine you could say shit coins you could say this what about from the governmental inflationary abuse that cost people all around the world millions if not billions of dollars why is that never talked about and that brings me to one of Tucker's episodes that he did in Argentina he did an episode about a 10 -minute episode covering what's happening in Argentina he's gonna cover he's gonna interview Javier Maly Javier Maly is he is he's a hardcore Austrian economist libertarian he wants to end the central bank you know he wants to cut down on the administrative state all of that stuff he said some pretty crazy stuff not gonna lie Tucker's gonna interview him tomorrow but what was really interesting about Tucker's opening monologue which we're going to cover extensively tomorrow is he said the quiet part out loud the invade and inflation is deft politicians aren't productive the way that they raise money is through direct taxation but they could only do that for so long until people revolt so they do that through the hidden tax of inflation we must continue to chip away at this like you know peacefully of course but Chico chip away at this move the Overton window start get start getting people to ask the question what is money why does my money lose purchasing power is it necessary for my money to lose purchasing power that's when people are gonna start asking really big questions and remember they do not have a response to this anyways talking about shifting the Overton window here's Joe squawk five years ago you would have never have believed this we did have a a Bitcoiner who was a writer for Forbes and he got a bit upset when I said that the legacy corporate media changed their tune because of the black rock spot ETF and he said no that's not true I was working at Forbes from before okay I take his word for it he's a cable are news you trying to tell me that the interest from black rock to launch a spot ETF has not influenced their change of tune whatsoever I don't know about that anyways here's Joe squawk it's about a one -minute clip and then we'll talk about it and move on to crypto if you'd indulge me for a second because we always have these crypto conversations and there seems to be this thing happening I don't know Joe we were talking about $25 ,000 with Bitcoin meanwhile black rock and all these folks all the folks that we thought were never gonna do this are now doing it and yet it's not moving at all well it's moving today well I mean sure 26 this is 26 it was for when when we started saying it wasn't going anywhere 4 ,000 oh okay but so but the question is is this now a risk on a risk off thing what do you how do you even correlate this to what's happening with the Fed because for a long time used to talk about crypto in regard to the Fed so I think crypto settling as part of the ecosystem I think people have recognized it is not the new global currency people have also recognized not going to disappear tomorrow is becoming institutionalized and I think actually if I were a crypto person I think this maturation process is a good thing where it moves from day to day is I can't really comment on that I still think it's outperformed every asset one year five year and ten year I mean I think I think he's pretty jaded a little bit right like you know it's going to zero at 4 ,000 and mind you like Pete Russo does a great job doing this but like he goes back in time and finds like original posts of people which is why it's so important to zoom out when in doubt of people posting a Bitcoin isn't going anywhere and Bitcoin was at like $100 Bitcoin was at like $200 at the time right so like when in doubt zoom out obviously Joe is completely converted he's like why have we been talking about the short -term volatility when we started when we started covering this it was literally at $4 ,000 it's at 26 ,000 at the at the you know depths of bear market he gets it I mean and this is actually one of the things that has helped me orange pill as many people as possible it hasn't been me saying the bitcoins better money it hasn't been me saying like oh look you know separate money from state hasn't been me saying you know it's a deflationary currency blah blah blah blah blah blah you know it's been the biggest converter of people you plant the seed you say Bitcoin right they ignore you for like a couple of years and two three years later pass number goes up and all of a sudden you get that text from that friend that you haven't talked to you in a long time and he's like hey about that Bitcoin thing ng you is the biggest converter of people it is the biggest orange pillar in my opinion is the most effective way and clear you could see that with Joe right he was like hmm yeah I mean we started covering this was at 4k I don't know why you're talking about the short -term volatility what the hell's wrong with you anyways why are you pulling that up Opti oh it's from wine it's from wine anyways why what's why you know all the disgrace you've ever done and all the controlling calling me why it might be the worst no I'm just trolling love you wine anyways first and foremost you know shout out the Joe Kernen absolutely love to see him just constantly battle the corporate BS FUD around Bitcoin and and I say this all the time you know like number go up love it or hate it is the fundamental thing driving all a Bitcoin adoption there's that and then on the negative side all of the crazy stuff coming out from you know the bureaucrats out there we covered the g20 stuff where they're trying to roll out a digital ID CBDC central bank digital control mechanisms and these two things together are in my opinion the driving forces for Bitcoin adoption it's like you we say it all the time and and the memes been catching on Nico I don't know if you've been seeing it on Twitter but Bitcoin is slavery it's starting to catch on and people are starting to notice that it's not even hyperbolic anymore but anyways starting with the first video I totally agree with that congressman or whatever like crypto is full of fraud like what a hundred percent agree hence why we're Bitcoin only like there's Bitcoin and there's shit coin and it triggered the thought in my mind about I think I brought it up last week it was the idea I forget what video it was but we played something on in the numbers about the the scene versus the unseen consequences of economics and it's very clearly visible the scene consequences of crypto scams and it very easily noticed and you know it's always rolled out as like the detriment to the whole Bitcoin industry and those are the scene consequences obviously there's been a lot of people getting rug pulled getting you know losing their their life savings because of shit coin scams and so it's very easily an emotional thing you can roll out so people are like ah let's protect the little guy but as we've going to cover and I really thought you were gonna play that Tucker Carlson video that you put on your Twitter I'm sick dude I mean so I was divided I was divided about what I wanted to make the show I was like I was like are we gonna make it about Tucker are we gonna make this about the sailor I think the sailor thing I was I was much more excited about the sailor thing it's a little little thing came out in my head I'm like holy cow the three things that Michael sailor said needed to happen for Bitcoin to hit five million all of those things have happened they've all happened right so I was like we have to cover this we will cover Tucker tomorrow's really actually made a thumbnail for everything it was awesome but I guess I guess you know we'll put we'll put a pin on that thought but tomorrow remember we're gonna be talking about the unseen consequences of money printing and that always gets obfuscated it always gets lost on people because it's not like a linear connection you know like you you gotta you know there's some nuance to this and most people can't think past like 20 seconds you know ADHD or whatever like we're all being inundated with so much dopamine from from social media that we either tune out or it just like it doesn't seem like it's important and and I can see people in the chat saying the same thing that we always hear is like once you start talking about Bitcoin once you say the B word people instantly tune out and it's only a matter of time until people wake up to what's going on here so you know plant those Bitcoin fundamentals into people's minds without using the B word usually helps and and goes a long way and then you find like hey you know have you heard about Bitcoin here's the pill take it but yeah man it just it just goes to show that the world is waking up and every metric that I'm seeing is pointing towards the fact that I think in 2025 more people are going to wake up to the scam that is Fiat and of course the safety boat that is Bitcoin and hey we're here for it so I'm I am super excited yes yes hold on hold on Arthur you can buy our merch with Bitcoin if you so want to yeah exactly go and go click scan the QR code it'll take you directly to the website and you could you could pay you pay in Bitcoin I think a lot I think wine set up the lightning yeah yeah yeah we got you got we got you guys back we got you guys rep some simply Bitcoin merch anyways so yeah man it's a really really exciting stuff alright guys let's jump into the news we got a lot to cover today before we get into news actually right now we are currently sitting pretty at 70 likes help us maintain our streak let's break a hundred likes within the out first hour of the live stream so if you're enjoying the show make sure to smash that like but it smashes mess mess wait wait wait can we do a legacy smash the like button Nico something like that anyways guys let's get to the news the daily news I want to give a shout out to our sponsor foundation devices it's self -custody done right they built a premium grade hardware wallet called passport right here in the u .s.
Simply Bitcoin
"michael sailor" Discussed on Simply Bitcoin
"All right, everybody, I want to tell you about Bitcoin 2023. It's going to be the largest Bitcoin conference in the world. Bitcoin celebration. Miami Beach, Florida, may 18th, through the 20th, 2023, don't want to miss it. You could take advantage of the promo code simply to get 10% off your tickets. Let's go through some of the speaker list because it's going to be absolutely crazy. Michael sailor Lynn Alden Alex gladstein Matt Odell Stacy Herbert, Corey clipson, obi fode, and many, many more. You guys don't want to miss the celebration. And of course, opting are going to be there. Anyways, at the time of recording, the Bitcoin price is 24,800. So that's per dollar. 24,000. That's for green candle. 4031. Block height, 776,875 reachable Bitcoin nodes, 14,646 blocks to the halving. 63,125 having estimate April 24th,
Bloomberg Radio New York
"michael sailor" Discussed on Bloomberg Radio New York
"On Bloomberg television so much more While January 20th marks one year since Joe Biden became the 46th president of the United States the first year of his term was marked by challenges from of course the pandemic to record gains for the S&P 500 and for surging inflation atop a key mentioned in his address just moments ago Given the strength of our economy and the pace of recent price increases it's appropriate as the federal chairman chairman Powell the fed chairman Powell has indicated to recalibrate the support that is now necessary This on the same day his approval rating hit a new all time low of 40.9% according to RealClearPolitics I want to bring in Jodie Schneider Bloomberg's political news director Jody we were just talking to Michael sailor the biggest corporate holder of Bitcoin in the world saying he got in because of inflation What were the big takeaways from President Biden's press conference especially what he had to say about that Yeah well this was Emily an epic press conference He hasn't given one in months and months And so this lasted more than an hour and a half and he covered a lot of topics He was trying to make the point with the economy He was obviously asked a lot of questions from reporters about the economy And he basically said look we're working on it The fed is in charge of trying to bring down inflation He agrees with their policy that they will soon be raising rates and that they will be the path they are taking He says is the way to work on of this He says it's supply chain and a lot of it he laid at the feet of the pandemic and the supply chain issues Also that China we continue to buy goods from China during the pandemic People bought and broadened bought All those boxes of things at their houses many of them from China And therefore he said they're working on it but he didn't give a whole lot of evidence that The White House is going to take a different path He really said laid this at the Fred's feet He of course sympathized and he sympathized with people trying to deal with the rising prices for all kinds of goods but basically he said they're working on it Of course another big issue China and the tariffs and lingering tensions between these two huge economies any updates on that Yeah he didn't give a lot He did answer several China questions as you can imagine But he didn't really state that there would be a difference in policy He said that at this point he doesn't know if they will lift those tariffs that his predecessor president Trump put in place But he said at this point China is not yet meeting its commitments that would allow them to really release those tariffs He said his trade secretary the trade adviser is basically going ahead with talks But he didn't really indicate that the tariffs would be coming off anytime soon His new China policy that we've been looking for really hasn't come to bear yet and he didn't give him the indication when that might happen In a way it's hard to believe it's been a year and yet it went by in a flash What are the biggest challenges that lie ahead for the next year of his term Yeah is he set himself COVID COVID COVID Getting the virus again under control even with he touted the vaccination rates and him getting his administration being able to get that vaccine quickly across the country But until the COVID cloud is lifted he said that there will be these challenges ahead including in the economy including with the supply chain including health including hospitals He did say that there would not be a lockdown that the U.S. would not go that way again He reiterated that But he said and he indicated as a kind of everybody knows that this is the.
The Peter Schiff Show Podcast
"michael sailor" Discussed on The Peter Schiff Show Podcast
"What michael sailor said was his prediction. Is that gold is going to zero. And he said that anybody who is buying. Bitcoin and gold is a fool because they shouldn't be buying any goal that all that there's no point in even having a small allocation a gold that gold is totally worthless and bitcoin is made it obsolete and that gold is going to zero. It seems that. Michael sailor is confusing goal for bitcoin. It's bitcoin that's going to go to zero not gold. I mean why would go to zero. Even if bitcoin succeeds wide is gold half to fail. I mean certainly. Gold has been a valuable precious metal for thousands of years. Goal was very valuable before it became money even if it was demonetized by bitcoin. Why should it be worthless like people are going to walk around and that they look down and there's a bar gold on the street they're just gonna keep on walking and not even bother to pick it up because it doesn't even have value as a paperweight is completely worthless. Gold is the most useful metal on the periodic table. it will always have value. it will never be worthless. even if bitcoin succeeds. Gold does not fail. But you know this just shows you. How irrational these bitcoin. Proponents are to the extent that they think gold is going to zero. And one of the things that michael sailor said to convince the people listening on twitter and there were thousands and thousands of people that were listening. I forget how many but he said that goal is down over the last year the goal is down over the last ten years and that therefore it is not an inflation hedge. It has proven that it's not an inflation hedge because it is down over the last ten years or the last year. That is a very subjective timeframe to pick because if you go over the last twenty years gold went from under three hundred to eighteen hundred where it is now. that's a sixfold increase. Sounds like a inflation hedge to me in fact if you go back a few years ago. Gold was at one thousand fifty in two thousand fifteen. So it's up. Eighty percent almost in the last five years. Sounds like a pretty good inflation hedge over that timeframe. What michael sailor likes to do is cherry pick the timeframe during which gold went down and contrast that to bitcoin to prove that bitcoin is the real safe haven inflation hedge and gold is now obsolete the reality is. Bitcoin is not going up because it's an inflation hedge. Bitcoin is going up for the same reason. That peleton went up. It went up..
The Peter Schiff Show Podcast
"michael sailor" Discussed on The Peter Schiff Show Podcast
"Went up that validated the decisions of the people who bought it and then they bought more and everybody piles in and you get a momentum stock well eventually momentum brace and in fact peleton stop going up a while ago and so it was kind of going sideways in until the news caused the stock crash. The high for the year for peleton was one hundred and seventy one dollars a share. Now it's at fifty five dollars. That is a move down but the problem is it could still continue to fall a lot. Because they're still losing money and the question is at what level of sales will this company be profitable and then what will it be worth. Because the momentum is clearly busted on this stock and so i think now the buyers are going to have to be legitimate investors. Who are looking to buy value. Because you can't buy momentum in stock that no longer has it in fact the momentum owners are going to go. I mean a lot of them sold friday but i'm sure more of them are going to sell. Maybe some people thought. God i can't sell today. It's down thirty five percent. Let me wait for a bounce. And then i'll sell. I bet there's a lot of people waiting for this stock to bounce so they can dump. Well maybe it won't bounce. Maybe it'll just dump again but this again highlights the risks involved when you just buy these story. Stocks mean stocks eventually fundamentals return. And that's going to happen with all of these overpriced stocks. And it's going to happen in space with cryptocurrencies. It's the same dynamic fundamentals. Don't matter people are just buying in fact. I listened in on this twitter conference. I guess is what you would call it. It was a talk. Michael sale or a few other people were hosting this live twitter event. Now i joined it and i was raising my hand. I was trying to get them to invite me to say something. But of course they didn't want me screwing up their crypto love fast. I've been trying to get michael sailor to engage me in some type of public debate for months. Lots of people have invited us have raised their hands saying that. They're willing to host the debate but sailor will not take anybody up on the offer but i was listening to all this conversation and again this guy was off the deep end in the stuff he was saying about bitcoin. You know how. Bitcoin represents hope right. I mean bitcoin is hope they kept talking about it as if it was hope. And that's like of the few things that i sort of agree with. It is hope when you buy bitcoin. You have to hope it goes up. You have to hope a bunch of fools. Don't come to their senses right. You have to hope that the people don't own bitcoin by you gotta hope that the people who do own it don't sell it. I mean the only thing you get when you buy. Bitcoin is hope. Because you don't get anything real. There is no actual value to the token. Or any of the tokens. It's all hope because it's all hype but the stupidest thing that sailor actually said was not about bitcoin. It was about gold..
The Peter Schiff Show Podcast
"michael sailor" Discussed on The Peter Schiff Show Podcast
"I guess people would think that there's no way anybody can say something like that. No that's exactly what he says so. He claims that. Bitcoin is the best form of digital property. And the reason he says it's the most valuable. It's the best digital. Property is because it has no maintenance costs unlike other property where you have to spend money to maintain it the beauty. Bitcoin is they don't have to spend anything to maintain it now. The entire bitcoin network. It's expensive to maintain to the extent that people are transferring their ownership but for the individual owner. If i just take my bitcoin and stored on a hard drive or coles stores. I just have my own coin. It doesn't cost me personally anything to maintain that right. I can keep my bitcoin on my flash drive for ten years. And as long as i don't lose it right. It didn't cost me anything other than i already owned. The flash drive ready to really cost me anything to maintain it so according to michael sailor. This low maintenance cost means that digital property is the best property to own. Now of course the reason that you don't have high maintenance costs for bitcoin is that you really have nothing to maintain. I mean what is bitcoin. It's just nothing is just numbers in cyberspace and when michael sailor talks about the beauty of the low cost of bitcoin he always talks about other assets he talks about real estate. He talks about boats. He talks about cars airplanes right other types of property that people can own and he talks about how expensive it is to maintain right a boat. If you own a boat it costs a ton of money. You gotta find a dock for the boat right. The boat breaks down. You have to repair it right upkeep. You need gas for it right. There's all kinds of cost as any boat owner. How expensive it is to have a boat right. The old joke is are the two happiest days of a boat owners life the day he buys it and the day he sells it and as a boater myself i've owned several boats. I understand that perspective. But what michael. Sailor is overlooking when he compares owning bitcoin to owning a boat is because when you own a boat you actually have property that you use an enjoy people buy boats because they want to go boating. They wanna be out on the ocean. They want to experience nature the water. They want to go fishing. They wanna go water skiing. They wanna just transport they wanna go someplace. They want to go to an island. You know they want to do something. I want to have fun. I mean if boats weren't fun if boats weren't enjoyable people wouldn't be willing to spend all this money to maintain them the same thing with all these other assets yes. Property is expensive to maintain because we like living in houses. People enjoy it. It's a place to raise our families. And yes it costs money to maintain you gotta pay property taxes. There are all these negatives when you own certain types of property but they are more than offset by all the benefits of owning the property the joy and the pride that comes along with owning property and getting the exclusive use of that property. Bitcoin doesn't have any of that. You don't do anything with your bitcoin. So the fact that it doesn't cost you anything to maintain it is irrelevant if you don't get any benefit from owning it..
Bloomberg Radio New York
"michael sailor" Discussed on Bloomberg Radio New York
"Bitcoin higher helping software company micro strategy which has a lot of crypto on its balance sheet And here with that really interesting story is stocks editor Dave Wilson Yeah absolutely What's front and center here is the idea of the first Bitcoin futures exchange traded funds And the keyword is futures because they're going to be tied to contracts that are already listed They've been out there since the end of 2017 And so when you have that kind of development I mean you see cryptocurrency move higher Bitcoin just above $60,000 today Now the question then becomes who stands the benefit and the biggest beneficiary really is micro strategy Start out as a business software maker in the past year and a half or so They have really become a Bitcoin investor In fact their CEO Michael sailor had a tweet out today say Bitcoin is the new gold And they've certainly kind of served their business that way In fact you know they spend a bit more than $3 billion on the currency they even borrow the buy some And they've made more than three and a half $1 billion on that investment In fact it's close to half this company's market value can be traced back to its Bitcoin holdings So it really has been a beneficiary Other companies are certainly going that route None of them is aggressively as Michael strategy though so none of them stand a benefit quite so much from this move into Bitcoin ETFs specifically the Bitcoin futures ETFs and the effect on that digital currency Yeah who needs to sell software after all Thank you so much to Dave Wilson for that report Coming up we get the latest.
The Peter Schiff Show Podcast
"michael sailor" Discussed on The Peter Schiff Show Podcast
"Choice while should i buy real estate or should i buy bitcoin. They have nothing in common just because bitcoin is digital property. Doesn't mean it has anything in common with actual property because you certainly can't use it in any way that you can use actual property. The one significant thing that he talked about with bitcoin as opposed to properties that well it doesn't have taxes. Yes if you own real estate you're gonna pay taxes on it no question about it but if you own real estate you can also rented out and you can get rent that exceeds your taxes or you can live in yourself and you can derive that utility you can live in your real estate instead of renting somebody else's and so yes you're gonna pay taxes but you're going to get all the benefit of living in the real estate. Yeah there's no property tax when you own bitcoin but you get no value from owning bitcoin. You don't drive any income out of it. You don't get any utility out of it you just own it now. The craziest thing he said about it though is you said hey. The beauty of bitcoin is that you could take it with you when you die right because you know a lot of people. There's an old expression you can't take it with you. Well as far as michael sailors concern when it comes to bitcoin you can take it with you because you could take to the grave well first of all taking it to the grave and taking it with you are not the same thing because the expression you can't take it with you refers to the afterlife. You're going to go to heaven if you believe in that. Well you can't take any of your wealth with you to have it right. That's the whole idea behind the expression. You can't take it with you so you know. Spend your money while you're alive because if you die with a big fortune that fortune isn't going to help you in heaven maybe is going to help your heirs but it's not gonna benefit you but people have been taking assets to the grave. I mean think about the old egyptian pharaohs barrett in these tombs. They've got all this gold buried down there with them. Not like it does any good in the afterlife. But at least they got it in the grave with them so to say that oh. Bitcoin is great. Because you can be buried with it. Well hell you could be buried with your goal to what differences that make. I mean the fact of the matter is the reason that michael sailor thinks. It's so great that you can die with your. Bitcoin is because when you die with your bitcoin. Your bitcoin is gone right. Assuming that you haven't given anybody the password to your wallet or whatever you die. In the bitcoin dies with you well. What's so great about that. I mean i'd rather have assets that i'm going to leave to my children or to whatever charitable causes. I want to donate them to or to other relatives. Rather just have whatever i've saved..
The Breakdown with NLW
Can a New Wave of Crypto IPOs Rekindle Wall Street Excitement?
"Anyways today. We're discussing the robin hood. Ipo and the circle ipo and whether they can get wall street. Stoked on crypto again. So first let's talk some background. In retrospect the coin base ipo as the top sort of looks super obvious right base ipo on april fourteenth and the bitcoin all time high depending on your exact source came within around twenty four hours of that event there was an extraordinary amount of hype around this which by the way is technically direct listing. Not an ipo. But either way there was a ton of hype and it's because in many ways it wasn't just a single event. He was the culmination of an entire narrative which had been driving the industry for upwards of a year that point. Bitcoin had surprising resilience post black thursday crash in march twenty twenty hedge funds. Particularly paul tudor jones start to notice and explicitly identify it as a good trade in the context of massive global money printing. And this wasn't hard to understand right. It was an incredible moment to c- bitcoin supply issuance pro grammatically have had the exact same moment as central banks were getting comfortable with bigger balance-sheets than ever and by the way paul tudor. Jones wasn't even close to the only hedge fund who bought into this narrative by late summer. Early fall some others like stand druckenmiller. We're going on cnbc to say so as well and turn michael sailor and the bitcoin treasury bat and all of a sudden there's an additional dimension to this institutional by narrative other companies like square follow. Suit some really unexpected players. Come in as well like mass mutual's one hundred million dollar bitcoin. By which is where many of you probably. I heard of a breakdown sponsor night dig all of this creates an incredibly strong clear narrative picture going into the holiday in the new year. And then we get alon tesla's one point five billion dollar. Bitcoin treasury by dwarfs at least the initial by of micro strategy and we really off to the races and then coin bases listing is announced and it seems like the combination of things a major truly legitimising company from the crypto space moving into public markets
The Peter Schiff Show Podcast
"michael sailor" Discussed on The Peter Schiff Show Podcast
"True for thousands of years but it's also been true is that gold has held its purchasing power despite increase in supply. Why is that well. Because the population of the world also increases and so you have more people bidding for that goal so what determines price is a combination of supply and demand. Yes the supply of gold is growing slowly on an annual basis but so too is the demand in fact the demand may be growing even faster than the supply so even though there is a little bit more gold every year the value of that gold goes up because the demand for the gold grows faster than the supply. And if you relate the supply of goal to the supply of other consumer goods that you could buy with gold. The world is constantly coming up with more efficient ways to produce and grow other commodities other consumer goods and so generally this supply of gold. That is money or a commodity is growing more slowly than the supply of other goods and services that are being created and which are being bought with goal so again on a relative basis. That's what counts if the supply of gold is going down relative to the supply of all the goods and services that you could buy with your goal. Your purchasing power is going up not down so that is another. Bold faced lie being told by sailor in order to con people into buying bitcoin by claiming that because of supply of gold grow slowly every year. That you're losing value. Meanwhile supply. Bitcoin is now growing faster than supply gold. Yes even though it's theoretically capped at twenty one million the supply of bitcoin today the growth this year the growth next year based on the new mining exceeds the supply growth goal. Whatever he's saying about gold would apply to bitcoin too because supply of bitcoin at least for now is growing. And i think it's growing for another one hundred years. I forget exactly when you're supposed to hit the twenty one million mark but it's not for at least one hundred years and again as i said in a last podcast. It's not just supply of bitcoin. That's growing its supply of always alternative crypto currencies that. Bitcoin competes with that. Michael sailor wants to completely ignore but again it's not just goal that he was trashing as an investment he trashed everything as an investment. He said stocks are no good. Well i wonder if he includes micro strategies along with akahsi. Saying you can't buy stocks you said. How can you buy a stock because no one has any idea if any company is going to be around one hundred years right so you can't buy a stock to save.
The Peter Schiff Show Podcast
"michael sailor" Discussed on The Peter Schiff Show Podcast
"Digital gold is used in aerospace. It's used in medicine. You can't use digital goals in anything and you can't use digital bitcoin either. So this is the false logic that he comes out with to try to justify. Everybody needs to own bitcoin. But he doesn't stop there because he then begins trashing every other type of investment that you could possibly own accept bitcoin right because he says what also bought he said. If you wanna buy something and store value for a hundred years what are you going to buy right. So i. He talks about gold and he said well. You can't buy gold because goal is way too expensive to buy. He claims that if you want to buy gold you've gotta pay a forty percent markup to buy that gold and then if you want to sell your gold. There's a thirty percent markdown. So according to michael sailor there's this seventy percent spread in the price of gold. And so that's why you can't buy any gold because you lose so much money in the transaction cost now. I don't know where michael sailor buys goal. I mean he probably doesn't by any gold that's why he thinks it's so expensive but for any rational person who buys goal nobody is paying a forty percent markup i mean are there some people getting ripped off. Yes that's why. I came out with this special report. A gold scams which people can still download because there are these gold companies that rip people off by get him the by these ridiculous quasi numismatic rare coins. That do have these crazy. Forty percent markup so there are some people that are being conned into overpaying for goal but for anybody who does a little bit of research and knows not to fall those scams if they go to a place like shift gold right maybe michael seller does it know about shift gold but if you go to shift goal and buy some gold. The markups are not percent. They're like one to two percent. That's it and it's the same thing if you sell so this. Seventy percent is ridiculous..
The Peter Schiff Show Podcast
"michael sailor" Discussed on The Peter Schiff Show Podcast
"You want to talk about spin. I think some of the best been out. There is from the bitcoin proponents in particular michael sailor. I was watching a youtube video that included some of the things that michael sailor was saying to really pitch bitcoin and to get people to buy bitcoin to go all in on bitcoin. And the stuff you're saying was just so absurd is the more that you listen to michael sailor. Talk to you about why you should buy bitcoin the more you should think i got to sell my bitcoin. If you actually own it because think about the absurdity of the stuff that he says to justify it first of all. He began his discussion of why you needed to buy bitcoin by talking about how everything is better in a digital format than in analog and he talked about music and how digital music is better than non digital meaning a cd or an old record an lp or a forty five or however back in the day that we used to distribute music. He says it's much better that we can distribute music digitally because now the whole world can have it. it's quicker it's less expensive. You can share your music all around the world when you do it digitally now forget about the fact that the sound quality if you actually have an old record with an old turntable and a stylus and and speakers i mean you actually get better sound quality than what you get. Just listening to music on your iphone aren't the quality of the sound is a little bit better but forget about that. I will grant michael sailors point that the ability to distribute music digitally is a big improvement. Over what existed before because yes you can get more music to more people for a lot less money and so i agree with that. Then he talked about the same thing with books. Now that you have digital books you can disseminate information to a lot more people. Billions of people can read the same digital book whereas if they were limited to a physical book that was made out of paper. How many copies can you print. And then you'd have to take the book and you'd have to mail it to billions of people. It would cost a lot of money. It would be very difficult and yes having digital books is better now again. You could argue. Some people might prefer to hold a book in their hand and turn the pages and that may be a better experience than simply reading off the screen and a laptop. I don't even want to argue that point. Let's just concede. Sailor was saying about the fact that digital books are superior to regular books because more people can read them and it's a lot cheaper to produce them and to disseminate them so then after michael sailor explains why digital music is an improvement digital books improvement. He then makes the jump to say that so digital property is better than real property..
What Bitcoin Did
"michael sailor" Discussed on What Bitcoin Did
"Of the market is is starting to look like it's making the inflation rate from the mining The list significant thing. And so i think that's going to have a decent impact on on these novel circles. We see where we get bullish posts. I think that it's get weak and you'll see narratives you'll see fundamentals of nation states doing the thing and corporate treasury all these macro macro. I'm kind of impacts will start to shape the price chat mourn. In a way this we could see These normal cycles where we left imprint on bitcoin staff to go little bit drunk it and i think it's we'll go. We'll wind in a random walk What will look like random. Walk up woods But without the cycle cool suit of Peaks that we've we've normally sane minority. I'm looking at this long to impress chat. And since the two thousand seventeen peak this boom mac. It's all over the place you know. The price chat is not smooth. It's not anything like the price echoes. so the whales or even like the fuck is going on here. You're laughing asking you probably the ladder. That means there's going to be a thirty percent dip do another twenty percent fuckers. Yeah i think you need any large while doesn't really care the stage. I think they like just see. They just sell Whenever it rallies they sell a bit to pay bay pay for the next cpr Oh jeez It's great for the network. It's really great The coins are really distributing. Yeah you say that. But then like michael sailor. Like i say he. The muslim majority is even more than one hundred thousand. I think micr stategy got like one hundred thousand but he implied like himself and entities. He control has like some one hundred and twenty thousand bitcoin. So that's a that's a consolidation is good for the to to have a better spread aucoin. But that's also a consolidation. Do you worry about that. Do you think about that. Yeah i think about it. And i think it's it's a it's a red herring. I think that An institutional by like that is just another would for Coins owned by a whole lot of people. Microscopic is a publicly traded company k. How much how how many she has does mug saline decent that right i'm Live but not the majority but not by father majority and of course a lot of the holdings date driven so actually It's bought on leverage and the people who leverage the other side of the lions have options to take take and she holding in the company So if you look at the last issuance of the junk bonds junk corporate bonds The the people bought those bonds were corporates. They wanted easy access way to texas bitcoin And i imagine a lot of that came out of conversations for her from his conference earlier this year. Bitcoin for institutions corporates. I imagine a those conversations took place and like he did that one to allow people to see our company's just issued by my junk bond and now you've got an easy way and because you can convert that to my strategy Stock it's the coins moved into a new holding vehicle. It's gonna like the for corporates right now and so again. That's just coins how'd By a whole bunch of cope out the corporates which held by a whole bunch of shareholders. So these are these are these are. It's not like michael sailor. Owns those coins He's custodian of the coins. But he's not the irena..
Crypto Voices
"michael sailor" Discussed on Crypto Voices
"Because so much fiat is being printed around the world but still the dollar still as michael sailor was trying to say on a bitcoin. I think bitcoin a magazine now. His coin interview couple of days ago. I watched it. You know he was saying. I don't quite buy this. But he was saying you know the. Us dollar is going to regain strength. Remain the world currency of the world. But it's gonna run on bitcoin rails. I know what he's saying there but maybe maybe with with cdc's or whatever could be that central banks particularly the dollar. I mean everybody knows that the dollar is yes. The the main reserve currency contract currency around the world so it might be that it holds its value other currencies kind of dropped but still in dollar terms gold and bitcoin go up. You have seen in. The last fifty years is gold has gone up in dollar terms. Fiat has gone up in dollar terms. Even though the native units of each currency outside the dollar typically goes down typically not always like swiss francs. It's an example of one that doesn't euro doesn't but you know some of those currencies relatively hold their value with the dollar. But you've seen you've seen a lot of inflation now. Of course you've seen economic growth as well and population growth and it's not like you know as i always say like cetera paramus and increase in demand for that money then prices won't rise but the question is when they just print too much to cover the deficits that prices will rise. And that's that's really as fancy says. I think the the hard question to answer. But i wish i had an answer for that. I just like measuring it. Mostly seeing how it looks but i think it could be any of those scenarios i really do. I think it'd be any scenarios. Well at least they'll be on the front row game to watch it play out since michelle couldn't join us today. We can talk maybe more economics and price and and also also some privacy stuff which i guess he would like to be there for that but still on the price and the the latest. We're trying to down a little. Bit is totally normal based on where we were a year ago and where we were three months ago like this is just what bitcoin does. You can't expect an asset. That's this that improves this. Much year over year. Also be volatile but obviously not investment advice. But you feeling hands getting a little bit weaker you. You still have diamond hands. When it comes to quantity we had to bring it into it. Yes so it depends on what your investment thesis. And so are what i have found in. This was my story to is a. I got interested in bitcoin because we were using it for private payments at work So that was my first exposure which is probably not the most common most people. Don't come to it for for utility. But i did but I made my first purchase bitcoin. Purely for speculative reasons you know been buying things transacting it buying services and goods. And you just couldn't help notice volatility. And so i bought some for speculative reasons but what happened was as soon as i had some skin a game i started learning about it and so when i learned about it i put more And i found the arguments in favor of canada fundamental thesis bitcoin to be compelling And not only that forced me to learn about things that i just wasn't aware of prior and so fast forward. A few years and volatility is interesting. And i keep pickling chart on my desktop during the day but whether it's upper down doesn't really change my fundamental thesis. Which is that. We have some novel technology here that is basically proving out so far to change what the meaning of money is and so. That hasn't happened very many times in history and most people who have lived on the planet don't get to live through fundamental change in what money is so. Obviously you had bartering to start with and people using sea shells and stones etc and then in a fast forward through double entry accounting and Mercantilism and the money starts become extensible and all sorts of improvements in money is arguably improvements but creamy bearing out in Proof that the economy of the world has grown exponentially as time has gone on and the changes and updates in money than Essential to that and so we get to be here. Just by luck birth For another potential change in what money is part of that is triple injure accounting and part of it is the The fact that botching brings the ability to code money. Money has a scripting language up beneath. That's kind of what's interesting to me in. Yeah i mean. I like it when price goes up. That's fantastic but when it goes down that doesn't mean that my fundamental thesis is changing. It also means that there's people that are not selling while it's going down or people that are buying while it's going down and those are new kind of fundamental believers that are being minted and so after every wave we've seen you know some people exit and they The hey bitcoin you know. They bought to about the top in lost their shirt. And that's not good. I'm not encouraging Wake root for that. I bought some people stay start contributing and with each round we have more contributors and more people from legacy industries who bring their expertise and we see it play out in the maturation of space. I think the cyclical coming going. We'll continue for a while but ultimately it is part of how we're going to develop so Yeah price frisco go down. No worries key binds. Love it man. Perfect completely now completely agree completely concur. I have nothing more to add to. That really rambled on enough about gold in the past. And i think the goal has always an interesting hedge. But whether it's hedger the technology or magic internet money. I mean Triple enter accounting. You covered all bases there. I think it's totally agree. Let me add to that right. So you said magic internet money which is something that people will say as if it's some kind of slight bitcoin. But let's think about it. We have magic internet money now. So yeah i'd say that's pretty cool. Yeah i interviewed. Bill barr height couple of years ago and He's doing some interesting things with labral. Obviously they have major major plugged in players to the markets With their sort of crazy interest rates that they offer stable coins. Obviously it just says that. They're they're plugged into the markets with the join the thing that i wanted to ask him about couple years ago because he was. He was at netscape in their early days. Was that four to air So i i asked him about it. He was he was intrigued. He said he'd never been asked that question. And he's definitely around at the time but but But he wasn't really he wasn't he didn't really have a good answer on how that came about. I'm very curious about because obviously you know injuries and a lot of those early guys that basically started browsing. They were thinking about payments. So i think the four to payment air for those forgot her you know remember we have obviously the famous four zero four. Which isn't some famous anymore but used to see that white page. The blue letters black letters couldn't page now found For a to payment not found they were definitely thinking about it. I would really love to know the backstory. What they were thinking that it would be interesting. But yeah it's here. It's finally here and i don't think you're gonna get to payment areas of bitcoin. Might get them with with doj coin. Or what what was what was i. Coined that cuban was trying to stake in.
This Week in Startups
"michael sailor" Discussed on This Week in Startups
"All right we got him warmed up here at their. He said before we begin here. That some of you someone on the prior panel said if you're against toxic maximalism. You're against bitcoin near against freedom. Yeah that's some bs. And he gets that smattering of claps but more boos than anything And in one of the crazy moments of the event max kaiser who i knew from the dot com he did something called the hollywood stock exchange which was a really clever idea to create a market for celebrities where you buy and sell value celebrities just like this other bit something project that came out where you can buy and sell social media influencers etc and it currency around them And so he got on stage and To discuss bitcoin. Cash with michael sailor. Who will talk about in a moment and he went absolutely insane on stage. We giga chad. Michael sale come on dollars. And you see this is manic behavior and everybody stands up. This is also part of cult behavior. If you've ever seen a keith ranieri in the vow or you've seen other cults or groups. One of the things they try to do is to get you ext to experience and a very big cathartic emotional. Hi this is how you get people to join your cult. You can have people singing the gospel in a church and jumping up and down and they get that incredible rush. You've seen tony robbins do it. Who is kind of cult. Like right you. Meet the tony robbins. Folks they feel like tony. Robbins is the one true god in some cases and he has to put out a documentary. That says i'm not your cult leader or something was named the documentary. The reason you have to come up with a documentary like that is because of the behavior happening at your event so here you see match riling up the crowd. She gets your energy up for the key word bitcoin. This is a hypnotist technique. This is a cult leader technique. This is a religious technique And neil hannon responded on twitter a hilariously dot dot as a hell of a drug. I mean it does look like this person is on some hell of a drug and i would say bitcoin is a hell of a drug and people are just like my god..
The Peter Schiff Show Podcast
"michael sailor" Discussed on The Peter Schiff Show Podcast
"I mean there's a lot of ridiculous points. And i don't have that much time on this podcast so i'm just going to focus on two people picking one ridiculous point that each one made the first one being michael sailor of micro strategy course. I've talked a lot about michael sailor on this podcast but of all the ridiculous things he said. Today i think the one that really struck me was when he talked about bitcoins. Use of energy and of course bitcoin rightly so has come up with a lot of flack Particularly from elon. Musk right who dumped. Bitcoin fact now maybe he's officially broken up with bitcoin. Because he tweeted out some kind of a guy and a girl breaking up indicating that maybe he's broken up with either bitcoin or does coin or or whatever but there could be some kind of crypto relationship. That's come to an end but a lot of it started when elon. Musk suddenly discovered all of the energy. That is being wasted in the mining. Bitcoin and empowering the bitcoin network and so michael sailor feels compelled to take this on right because he doesn't want the investment community or the corporate community somehow not buying bitcoin because they think it's bad for the environment or that it wastes energy so he basically put his spin on it and he said that bitcoin is the most energy efficient invention in all of history. Or whatever. The words were that there has never been an asset class that was more energy efficient than bitcoin. And how did he come up with that. Because obviously if you look at how much. It costs in energy to transact in bitcoin versus just using any other fiat currency or using a credit card or a payment app like a pay pal or it is extremely extremely high usage of energy. I mean it's the most inefficient way of transferring value of any other way that you could possibly transfer. So how is it. That michael sailor is able to get away with saying. It's the most edgy. Efficient invention ever devised. Well here's how he measures energy efficiency. He looked at the market capitalization of bitcoin. Which is right around. Seven hundred billion right now well off. Its highs as i'm recording this. Bitcoin is about thirty seven thousand per bitcoin. At its peak it was closer to sixty five thousand so you pretty much double the current market cap but if you look at the current market cap seven hundred billion what sailor talked about was how much energy has been consumed in bitcoin relative to this seven hundred billion dollars value that has supposedly been created by bitcoin. Because that's the market value of all the coins. And he compared that for example i think two other companies whether it was google or apple and he looked at their market caps relative to how much energy went into those companies which is a laughable comparison. Because when you're talking about the energy used by apple. Apple is using energy to produce phones that people are actually using or computers. That people are using all sorts of products are actually being produced. And sure you need energy to produce those products even when he talked about google..
The Breakdown with NLW
What's Really Behind China's Bitcoin Mining Ban?
"What's going on guys it is. Wednesday may twenty sixth. And today we're talking about what's really behind china's bitcoin mining band or at least a different way to look at it. There has been so much happening so fast that you can expect a lot of these shows to be checking in on some things that we've discussed just a day or two before and today is definitely an example of that. I'm going. I do an update on the discussion around the bitcoin. Mining council michael sailors spoke at consensus yesterday and thought there were a couple of interesting points that came out of it. I is the extent to which the impetus for this mining meeting was from ilan himself rather than sailor dragging along. Sailor said quote. I think he lawns. I order. Ask was hey. Can we come up with a way to publish boost transparency for bitcoin mining energy usage. I think the first step is. Let's come up with a protocol for us to publish energy information in a way that we can share it with the world and then work together to make sure that we pursue sustainable energy goals. Sailor argued basically that in the absence of there. Being a standard model for energy use. Reporting critics come up with their own models for estimating how much energy mining is using many of which ended up painting a much bleaker picture than the reality if this is the case. It's a solvable information problem. And frankly it's also one which does benefit from some amount of coordination from a critical mass of parties to agree to the type of disclosures. They're going to make in the standards for how they're going to report things to make them comparable the other big point from his talk was the extent to which this energy was the key deliverable with all of the rest of the things that people mentioned the notion of promoting more sustainable practices being much more nascent and still in the discussion phase. This was strongly reinforced threat by amanda fabiano who heads mining galaxy digital. I'm actually just going to quote the whole thread. Because i think it's pretty important quote bitcoins. Energy consumption is transparent making it an easy target for criticism. But what critics can't see is the breakdown of energy sources.
The Peter Schiff Show Podcast
"michael sailor" Discussed on The Peter Schiff Show Podcast
"In fact. i'm making a lot of money in the bull markets. Now i have missed out on the bull market in the us. Which i've admitted for years was bigger than the bull markets abroad but this year the bull markets abroad are stronger than in the us and in fact a lot of the stocks that i own have outperformed bitcoin over the last several years. I have some winners in my portfolio and my point was no. I'm not just sitting all in gold. Gold is a defensive part of my portfolio. I have always advocated that people have five to ten percent of their portfolios in goal. And i follow my own advice. I am not overly waited in goal. Now i am overly rated now and i have been for several years. In gold mining stocks that is a big part of my portfolio and it will likely be an even bigger part in the future as gold stocks go higher but my goal at some point is going to be to take profits in these gold stocks and a park a lot of those profits into physical gold but right now i am so bullish on gold that personally. I want to be levered to goal. And i'm doing that through these mining stocks but to try to say because i've admitted that only a small part of my portfolio is in gold that i don't have any faith in gold. I have complete and absolute faith in gold. I don't have faith in governments and the fiat money that they create but also he says i have no faith inequities. How can you say that. I constantly advocate that people invest in equities. I mean most of my portfolio is in equities. How could i have no faith in what i'm investing in myself. I'm advocating on this podcast. People buy stocks. I managed portfolios for people in equities. I have five mutual funds that i own four of them are equity funds. One of them is a bond fund. Again he says. I have no faith in pas yet. I manage upon fund. Now i don't have any. Us dollar denominated bonds. in that. Because i don't have faith in it. But i do think that people should have some allocation to bonds albeit a lower allocation given the fact that rates are still very low and i expect inflation but i liked to have some dry powder because maybe have the opportunity to get a better deal on stocks. And so where do i keep my dry powder. I keep my dry powder in physical gold and i keep it in foreign currencies but i have most of my powder deployed into the markets. I just don't have it in the. us market. I haven't in foreign markets. I don't have it in hyped up. Momentum stocks or cryptocurrencies. I have real assets. Good stocks that pay good dividends and you know what that's exactly what everybody else is now just starting to buy and this trend i believe is going to go on for the entirety of this decade. If not longer this is a massive wave and we are just at the beginning of this. The rotation out of all hyped up crap into the stuff that i own myself and that i have been advocating that my clients by for years the world is now slowly catching up to what i've already known and what i've helped people prepare for but the fact that michael sailor doesn't want a debate me the real reason that he doesn't want debate me the reason that there's no point in debating me is because from his perspective. There is no point because all it's going to happen is he's gonna lose expose him for the fraud that he is so rather than risk being exposed by somebody who actually understands the fallacies of his argument and isn't afraid to throw it in his face..
The Breakdown with NLW
What an Increasingly Booming Economy Means for Bitcoin
"What's going on guys. It is thursday april twenty ninth and tenth day we are asking the question of what an increasingly booming economy means for bitcoin. So the setup for this. Is that obviously for. Bitcoin and bitcoin has always been a macro asset in the sense that it is fundamentally about reorganizing the global economy in some way when it comes to the rest of the world however it's really only been in the last year that that idea of bitcoin as a meaningful player on the macro stage has come to the fore. The connection was made first and most profoundly by. Paul tudor jones with his great monetary inflation thesis. And since then. Bitcoin has been tied up in its digital gold narrative as an inflation hedge. Right there's no way to deny looking at micro strategy getting in and michael sailor talking about the melting ice cube of cash as a treasury reserve asset and stanley druckenmiller seeing five to ten percent inflation over the next few years. There's no way to deny that bitcoins. Narrative has been tied up in the fear of looming inflation. The question then becomes. What if that starts to withdraw. What if the macro narrative shifts. Where does that leave bitcoin so today. That's what we're going explore. And i think the start. Let's start with this idea of it. Being a booming economy one of the wall street journal's lead headlines today is. Us economy appears to be lifting off. Economists are projecting a quote robust consumer led recovery. Gdp grew at six point. Four percent seasonally adjusted in q one which is almost exactly what economists had predicted. What's more consumer confidence is approaching pre pandemic levels. In fact it's the highest. It's been in fourteen months and it's done nothing but increase for months in a row in particular a low income band people and families earning between twenty five and thirty five thousand dollars. A year has increased dramatically in march. Nine hundred thousand new jobs created an unemployment went down six percent.
Uncensored Direct Marketing
"michael sailor" Discussed on Uncensored Direct Marketing
"That sense like you are seeing a rebirth of the payments concept in bitcoin but The the the the The twist here is that it's going on off chain okay. So kind of like private blockchain's while waiting network is not a private. Blockchain is sort of like this concept. That is kind of Fallen by the wayside a bit so it private blockchain was the third the fashionable thing about two thousand fifteen two thousand sixteen where the banks Decided that they were gonna experiment with blockchain technology. But they didn't want to dirty their hands with the You know the wild west of bitcoin and these you know uncontrollable Open networks so. We're going to create private blockchain's That you know where you know instead of where not. Everyone can participate. You know the thing about bitcoin. Is that you know anyone can download the software. You want wallet a basic while you can download it onto your computer. All you need is an internet connection. There's no kyc know your customer. There's no ide- wreck required. You know it doesn't matter if you're If you're joe biden or the milkman right to anyone can do it and anyone can run a note. and theoretically mining is open to anyone. Although it's a very expensive business you need a lotta gear. But you know there's no There's no like you know sort of identity based barriers to entry so that was an athem. Ah to the banks because Banking is highly regulated industry and You know the laws and regulations and in developed countries require financial institutions to know who they're dealing with so they created these private networks that you know copied certain characteristics of of the bitcoin blockchain And it was all sort of couched as experiments And a lot of that has sort of quieted down. I mean you know. You still c. J. p. morgan i think is Still sort of You know doing some interesting work They had their j. p. coin which was sort of like this internal currency they use for settling transactions among their own clients You know you you know But you know a lot of the enterprise. Blockchain stuff is Just not really. I think it's fair to say has not lived up to the hype Ibm which Had huge ambitions for this sector They've they've really You know retransmitted made a lot of cutbacks. In the blockchain space so so the pri- private blockchain is sort of becomes dated concept. There's still there's still people working on it behind the scenes but no one's really getting excited about that. I wouldn't call the lightning network a private blockchain necessarily because again It's an open network. Anyone can set up a light. I mean you need technical skills to sit up lightning known but you know there's no you know you know at least at least As as extent you know the lightning network the one thing that does have in common with bitcoin is that it is. It is an open network. It's permission mus. So so. So so. I i i would say it would be misnomer to call that a a a private blocks that he's not even a block really. It's just this sort of It it's a peer to peer network. That's on top of bitcoin and that occasionally Sort of Syncs up with the bitcoin network consents. Yeah no it does. And the interesting thing. I want to touch upon his peer to peer payments. I feel like in the peer to peer payments. Space where i mean. There's so much development there and there's so many things going on wallets and all this different stuff in it seems. It's it's pretty easy for people to transact amongst each other especially in developed countries. You know if. I want to send you many van mo and pay pal and all this stuff. It's it's all there The interesting thing i think is and you touched upon earlier like larger transactions B two b transactions. If i want to send somebody money as a business to another business owner you know Like a large sum of money. That's where things kind of breakdown i think in the financial system you you got. You got wires You know you're not gonna be a pay pal for twenty five thirty forty thousand. That's going it's going to be insane in terms of fees and so forth. That doesn't make any sense. So i mean talking about bitcoin. As or you know crypto in general as a payment method you think. Do you foresee a future. You know within the next five years where companies are transacting each other instead of saying each other wires. They're sending each other bitcoin or they're sending e t h or whatever you know one of the main currencies. Maybe i mean it's it's it's conceivable. I mean you know it's still very early right now. I mean remember that like bitcoin is still volatile of day-to-day basis So so you have to take that into consideration I mean you know we know. I mean you know the the i'd say it's more plausible now than i would've said a couple of months ago simply because You know one of the big stories of twenty twenty was this company micro strategy Which is Just a b. two software company that You know they've been around. You know twenty plus years. They date back to the dot com bubble But they have Their ceo was a guy named michael sailor. Who seems to be a late convert bitcoin but a but a very passionate one Michael sailor is ceo of micro strategy and He at least is in his official story. Is that He's concerned about inflation. Whittling away the value of all the cash of this company has on hand so he's been buying bitcoin Pretty aggressively Even like issuing debt with which to buy. Bitcoin and his companies almost become as much if not more a bitcoin. Klay as it is a an enterprise software play and he in You know he loves to talk about it. He said that he spent some forty percent of his time now Bitcoin related stuff And that was sort of but that was. That's still sort of an outline right. But you know square jack. Dorsey company director. She's payment company. They put a portion of their treasury in bitcoin I think my strategy made it kind of you know Safe for them in a way to do that more recently. Tesla has been buying bitcoin For its own coffers and you on moscow. Bbc's sort of charismatic you know celebrity You know so. That was was An you know in these significant amounts of money and your the billion dollars here so So i think it is conceivable if this trend continues that you know they might you know if you know if they are going to be holding money in bitcoin and not just as a speculative investment but as like you know this sort of inflation resistant. treasury then yeah it. I'd say it's conceivable You know because again you know. It's one thing you know a cup of coffee with. Bitcoin is impracticable for many reasons. Plus you know like a test is going to pay their suppliers for shipping a tires or shipment of batteries or whatever. It's.
The Breakdown with NLW
Is $50,000 BTC the Beginning of a Bitcoin Supercycle?
"What's going on guys. It is tuesday february sixteenth. And today we are talking about. You know it fifty thousand dollar bitcoin and specifically whether it's shows that we are in a bitcoin super cycle so i the news after a week or so of threatening the rubicon was breached this morning between seven forty five and eight am eastern time. Bitcoin punched up above fifty thousand. Now it immediately met cell wall and had a six hundred dollar candle down in is at the time of recording closer to forty nine thousand but to me that technical response is far less significant than these psychological barrier of a fifty thousand dollar being breached so today's special early breakdown is all about that. I reached out to followers this morning. Asking what topics you all thought were important for a fifty k. Show i also popped into a couple of different clubhouse chats to see what people were focused on and overwhelmingly across both of those mediums. The thing that people wanted to talk about is whether this is another indicator that we're in a bitcoin super cycle. I'm going to discuss this. It's going to be the main focus of the show. What the idea of a super cycle is where it came from what it might mean and some different ways to look at it but first let's blast through a few of the other topics folks wanted to disgust. Let's try to start with something that if not negative is sort of dismissive to be honest. It's kind of hard to find those bitcoin stomping face but here we are peter. Brant tweeted fifty. Thousand is a nice round number. That means absolutely nothing. Technically trying to sound smart just sound smart helps to define dumbness now. Let's contextualized. Peter is speaking to a trading audience and that trader audience are not supposed to in their own estimation get emotionally invested in an asset or let narrative shape. What they do. So let's give peter the benefit of the doubt and assume that that's who he's talking to however if he is truly arguing that technicals are all that matter about an asset. The easy rejoinder is that markets are by their very definition a constant give and take between narratives and technicals and frankly narratives tend to reshape the bounds that frame the upside and downside potential of those technical indicators either way for the sake of completeness i wanted to include something sort of negative but i think we can move on next. Let's discuss michael sailor. Just doing michael sailor things about five minutes before fifty thousand was breached. Sailor dropped a new press release from micro strategy long story. Short micro strategy is offering another six hundred million in debt and all the words of the press. Release our legalese. Except for this. Little line micro strategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins. Pomp summed it up perfectly when he tweeted. Michael sailor is carrying out one of the highest conviction investment thesis we've ever seen in public markets. Incredible to watch okay next. People are wondering how this happened. Or why will. I think the wise a little obvious. We saw an insane amount of positive news last week. Tesla b. and y. Mellon mastercard twitter. Deutsche bank morgan stanley. Every show for the last week has been about some type of crazy positive news. If you've been listening it's hard for that amount of positive news to not have an impact in other words. The specifics of win this fifty thousand dollar price was going to happen. Are for those technicals. That i was mentioning above to figure out but the overall momentum has clearly been in this direction. This actually gets me to another point. I was trying to articulate on twitter. We have this linear time bias. That when things happen quickly we tend to feel like that the thing that was before the you're comfortable with was the correct thing versus the new thing and the new change. That happened really fast. In other words. Bitcoin was between ten thousand. And fifteen thousand for a really long time so fifty thousand seems overvalued but what if instead based on what we now know. Bitcoin was in fact radically undervalued for that. Same ferry long time.
WJR 760
"michael sailor" Discussed on WJR 760
"Of retirement with guys from our W calling associates get on the counter for a complimentary review by calling or texting 248305 99 11. That's 2483059911 great show lined up today. We're gonna talk a little bit about some of the Executive orders that have gone through what that might mean for some of our retirement plans coming up in the future. We're gonna little game called Fill in the Blank takes me email questions. A lot of good stuff on the show today, So get yourself on the counter. If you hear something to piques your interest reach out to him. Let him know to 43 05 99 11 no cost or obligation for your own complete planning review. And a good morning, guys. What's going on, Rich? How are you, buddy? Oh, well, I'm doing Ah, lot better, right? Actually went to. Ah, a little bit of a covert experience that China virus. I guess there's executive order and you can't say that China virus virus. You know, it came from China. Okay, so I mean, let's not be ridiculous about it, and but anyways, it was too weak or deal and Recovered now and and back back going again. But good. Let's get that something you want to have. So get that vaccine if you can. I'm doing while I'm actually planning my son. Keep believe it. My my son, Silas is turning for Four years old man goes Price. Okay, Kalahari. That's some resort. No weird forwards like already. Yeah, that's wow. It's everyone tells you it goes by so fast. You don't realize what's happening to you. My daughter was sitting on my lap yesterday and she looked at me and she was dead. You your beard starting to look like Santa's light like I've never felt older in my life. Uh, there's more coming about just for a minute working, you know, that's the first of many to make you feel older, my friend the first How many? So Here it comes. They're coming. Yeah. Don't worry about that. Well, I'm glad you guys are doing well. Glad you're feeling better. Rich. Gotta ask you a question. You know, we've talked many times. You're on the show about Bitcoin. Sometimes we poked the bear a little bit when it comes to Bitcoin. BlackRock just added that As an eligible investment in two of their mutual funds. So guys is this a sign that maybe it's becoming more mainstream. Oh, it's 100% becoming more mainstream. I mean, you look at it a few years old first, Let's just start off with what Becoming mainstream. Okay? Not all these obscure all coins. It's Bitcoin and it's ethereum. Everyone knows Bitcoin by now they have seen what it's done over the last couple months here going from, you know 15 16 all the way up to 40,000 right? It's It's the first it's the largest. And what we're seeing right now is institutional demand increasing There's only a finite supply of this. We're not printing. We're not making more. It is what it is. It's basic economics, economics, 101 supply and demand. So that's what you're seeing right now. And then and then you have a theory. Um, which is the second largest and their technology is is extremely interesting. We're talking about Centralized finance here smart contracts and we talked about all these other all coins. They're building on a theory in their building on a theory ums technology, So you're starting to see institutions taken interest in that. And the price of that is starting to go If I remember back in in March of last year when we had when we had the quick little recession, I mean ethereum was going for around $100 for one ether. Now it's up around 1300 today, and people say it's still on sale. So you look at it it's become and if we're talking 23 years ago, you want to go any purchase that You have to open up an account on a crypto exchange. You're looking at coin base. You're looking at Gemini. I remember trying to walk rich. They do open an account on one of those He's going. He's gonna look at me. What? My buying here. These thieves, voodoo magic coins and Yeah, right. The voodoo magic. Well, you know what it is. It's a little mystical, You know, No question. Well, now, now it's much easier to buy because a lot of people are going. I don't trust it yet. I don't understand it, and I don't trust it. I wanna be able to buy it on fidelity or TV or swap. I wanted to have accused of particular symbol, and now you're looking at these Grace's scale trust. Great skill Theorem trust, grayscale Big point trust platforms and now by it, and not only that we're talking about futures coming out next month, so it is becoming more and more mainstream. And if you look at some of the people now talking about this, you know you get the winkle Voss twins who? Who founded Gemini, Everyone knows who they are. They're extremely bullish on Bitcoin Ethereum, Michael Sailor. I will Paul, one of the most brilliant global macro investors out there. Saying he thinks it's going to go to $20,000. And either I mean six figure Bitcoin. Possibly. He's extremely bullish on it. Cathy would a brilliant innovation investors saying, Hey, institutions are getting in on this. Now, if you see 3% of their money going into Bitcoin going into the theory, Um I mean, you're you're gonna look at six figure Bitcoin. And if your arm could be around 40 50,000 So So who knows where this is going This by no Means should be a core position. Right? Retirees portfolios. I am not recommending that in any way if you're in a position where you're looking at your portfolio going, you know what? I've income covered. I'm okay. This is my growth piece over here. You could maybe look at throwing a little bit into a speculative investment like this, but anything that goes up this fast new technology can also fall pretty fast. Yeah, I'm glad to see like, for example, you just said it the grayscale. So now Fidelity is carrying it on their platform. And And so there's that lends a lot of credibility, you know, to the investment. At least to the degree. I like things you can control the end. Do you do these private placement type things? We have to hold it for eight or 10 years whether here I say you're stuck in it If it's not performing, and and so not the case here, So you know you can put the you can invest today and take it out tomorrow on that platform, and then you see mass mutual your documents. Harvard Yale. Are now starting to take positions and hold money relative to their port boils very, very small positions, but but then also lends more more credibility to it. One of the questions that I just I'll just throw this out there. There's one or people actually investing in this and they want to get away from the central banks, you know, from currency manipulation in control. So this is something that's out of their purview to centralize finance. Yep, Yep, And so so it does give you some diversification away away from the central banking institutions. You don't want to be scared of new technology. Just think about 20 years ago if I were to tell you Whenever you needed to find something out, you're gonna pull out this computer phone that you keep in your pocket. And then you're gonna log into something called the Internet. And then you're going to go on to something called Fire Fox, and then you're going to go to a website called Google and you're just gonna Google it. That's what we called Google. It. And it'll give you the information that you need, you'd be like, Get back in your spacecraft and fly back to your black right crazy out of your mind. It's a new, It's a new world. But again with new tack also comes a lot of risk. So you're seeing these returns and it's It's driving more investors to it because we're seeing these outrageous returns, but Again. Anything that goes up like this goes up this fast can also fall that fast. Go back to 2017 Look at that Run. Look what Bitcoin did. Look what Ethereum did. They went up this fast and they fell this best. So just be very careful again, not a court position, but maybe a small, small piece of the book. It's still It's a tough to understand investment and not Not for everybody, That's for sure. I was talking to Michelle, my wife and say she goes wolf. Can you explain this to me that so I started to go through what Crypto and that that refers to cryptographic, which which allows for the creation of these digital coins..