Speaker 1: Hey, everyone, welcome to another episode of the Market Disruptor Show,
Speaker 1: and today I am joined by my good friend Corey
Speaker 1: Clipston for a second time back on the show. He
Speaker 1: is the founder and CEO of swan bitcoin company that
Speaker 1: I talked about quite a bit. They're doing amazing things
Speaker 1: in the space. But he's also very very educated, and
Speaker 1: so there's some hot topics that I want to dig
Speaker 1: in and I'm excited. So Corey, thanks for joining me today.
Speaker 1: That's great to be here. I know we've got a
Speaker 1: good hit list here to run through and I'm excited
Speaker 1: to dig again. Yeah. So, um Man, the bitcoin space
Speaker 1: has been very turbulent and volatile lately. Anyone who's been
Speaker 1: around bitcoin for any period of time knows that it's big.
Speaker 1: You know, it's very volatile and turbulent. UM in bowl
Speaker 1: markets like we like we're kind of in right now.
Speaker 1: Um seeing drops aren't really abnormal. We're kind of at
Speaker 1: like a fifty drop. We're kind of recovering from that now.
Speaker 1: But it really seems to be driven by um news
Speaker 1: as we might call it fud as opposed to like
Speaker 1: more like fundamentals. What are you what are you seeing
Speaker 1: or thinking about? In regards to that, Yeah, I actually
Speaker 1: think the uh, basically what happens is when something gets
Speaker 1: kind of overbought and there's too much leverage to the upside,
Speaker 1: pretty much anything can kind of start that cascade down
Speaker 1: and kind of wash the leverage out of the system.
Speaker 1: So it actually doesn't matter whether it's you know, China mining,
Speaker 1: fud or elon tweets or whatever. Almost anything will sort
Speaker 1: of derail a rally that has gotten a bit overextended
Speaker 1: with too much leverage and too much polishness. Hey guys,
Speaker 1: let me just interrupt this interview real quick, just to
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Speaker 1: the cycle, so you know, I see it as healthy. Well,
Speaker 1: we went to like sixty five, back to thirty three,
Speaker 1: back up to forty. Like this feels fine. It feels
Speaker 1: very much like the pull backs that we had in
Speaker 1: shape and size and duration. And you know, I'm I'm
Speaker 1: not worried. And again it doesn't matter. Just zoom out
Speaker 1: at the end of the day. Like any sat you
Speaker 1: stack with bitcoin under a million dollars before is cheap.
Speaker 1: So yeah, you know, we just recommend just just keep
Speaker 1: buying with some spare change according to your plan whenever
Speaker 1: you can. And uh, and and just keep on accumulating
Speaker 1: and never sell. Yeah. Well, let's dig into a couple
Speaker 1: of the big pieces that, um we're there, and and
Speaker 1: really they were kind of one and the same, right,
Speaker 1: so you kind of briefly mentioned those. So the China
Speaker 1: Fund fear, uncertainty and doubt. Um, so the fun about
Speaker 1: the mining and and uh, it's a pretty pretty ironic
Speaker 1: for big for China to say that they want to
Speaker 1: stop mining on dirty energy, especially when they're just announced
Speaker 1: last year or last year they just brought on three
Speaker 1: times the amount of coal power plants is anywhere the
Speaker 1: rest of the world. Um. But at the same time,
Speaker 1: I think what probably really kicked that into gear was
Speaker 1: Elon Musk, who had really come out, um seemingly in
Speaker 1: favor of bitcoin, and then all of a sudden kind
Speaker 1: of retract his statement like, oh, bitcoin isn't mined in
Speaker 1: an efficient manner. It seemed like it was like that
Speaker 1: one to punch. Did you see that? Yeah, of course
Speaker 1: I was following it as we went along, and it
Speaker 1: seemed to contradict his earlier tweets. So the press release
Speaker 1: put out by Tesla that he posted an image of
Speaker 1: was obviously in direct contradiction to his personal tweeting back
Speaker 1: in January and February. So I'm not really sure what
Speaker 1: the machinations were behind the scene, but he has a board,
Speaker 1: and you know, they're very dependent with their business model
Speaker 1: on sort of government large s and subsidies in a
Speaker 1: bunch of different ways, and in particular, like some of
Speaker 1: these renewable energy credits that they're sort of angling for,
Speaker 1: and uh, you know, some of their cash flows are
Speaker 1: sort of ending now in a big way with some
Speaker 1: of the other companies that have been paying them over
Speaker 1: the years now having their own electric vehicle fleets and
Speaker 1: not having to buy these credits from Tesla anymore. Um,
Speaker 1: so they're they're sort of at the trough right now,
Speaker 1: trying to make sure they have their next sort of
Speaker 1: leg up of subsidies over the next few years. And
Speaker 1: it seems, you know, it seems just too cute that
Speaker 1: that tweet came out, the fund tweet came out, and
Speaker 1: literally the next day was all the news about the
Speaker 1: uh the new arrangements with the renewable energy credits for Tesla.
Speaker 1: So yeah, hard not to see a correlation there. Yeah,
Speaker 1: I mean, there's just gotta be in anyone who's really
Speaker 1: studied Elon Musk. I know people love him, um, and
Speaker 1: you know he's he's quite a character, but um, his
Speaker 1: career has really been built, as you called it, legress
Speaker 1: of the government. I mean he's a grifter, right, So, um,
Speaker 1: all the money that's come from space X and for
Speaker 1: Tesla has really come from the benefit of the Fiat
Speaker 1: money system. I'm gonna stop way short of of grift
Speaker 1: because that usually is just for personal gain. And I
Speaker 1: actually think the dude is trying to complete important missions
Speaker 1: like I do think Tesla's are amazing vehicles and it's
Speaker 1: kind of pulling that whole industry out of the nineteen
Speaker 1: fifties and into a new millennium, So I I appreciate
Speaker 1: what he and that company have done there, and I
Speaker 1: think what they've done with the commercialization of of you know,
Speaker 1: space travel and satellite launches and what they're doing with
Speaker 1: Starlink with the satellite Internet, like these things are all
Speaker 1: great and worthy. And you can quibble about the energy
Speaker 1: mix and the resource use of this, that and the other,
Speaker 1: and you know clearly those are intensive processes to create
Speaker 1: those and you're not actually getting away from fossil fuels
Speaker 1: if you're using electricity unless the source of the electricity
Speaker 1: is clean too, So it's kind of marketing. So yes,
Speaker 1: all of that is true. But you can also I
Speaker 1: like to be honest because then I have credibility and
Speaker 1: full and integrity when I, uh, you know, attack somebody
Speaker 1: for doing something that's bullshit. It's the same reason that
Speaker 1: I like to, you know, explain how I love the
Speaker 1: writing of miss him teleb. And just because he doesn't
Speaker 1: understand Bitcoin doesn't mean that all his work in other
Speaker 1: areas is worthless. It doesn't mean that he's a charlatan.
Speaker 1: It's just like like Ray Dalio had had Bitcoin wrong
Speaker 1: for years because of his social signals and his you know,
Speaker 1: unwillingness to do his own research. Over the last year,
Speaker 1: he's done his own research and he finally is starting
Speaker 1: to understand bitcoin, and obviously his conclusions are very different.
Speaker 1: What I would say to that, though, and I agree
Speaker 1: with those statements. What I would say is, I think
Speaker 1: it was Charlie Munger who said, right, show me the
Speaker 1: incentives and I'll show you the outcome kind of a thing.
Speaker 1: So when you understand what Musk's incentives were, as you said, right,
Speaker 1: he's very incentivized on the credits, and he's losing the
Speaker 1: credits because auto manufacturers are coming on now with their
Speaker 1: own cars and whatnot, and so the incentive structure there
Speaker 1: for him to then have to come out. Right, So
Speaker 1: then we understand the incentives, then we kind of understand
Speaker 1: the outcome, which is, um, maybe he got a tap
Speaker 1: on his shoulder from somebody, maybe he just realized it himself.
Speaker 1: But because he's dependent and whatever you want to call that,
Speaker 1: but his business is pretty dependent on you know, government help. Um,
Speaker 1: that's the incentive. And then so you see the Yeah,
Speaker 1: these two things can both be true. Yeah, he can
Speaker 1: want to he can believe truly that he's trying to
Speaker 1: save the world, and that he doesn't care if he
Speaker 1: has a few tens of millions of dollars. I think
Speaker 1: he wants some money or a hundred billion dollars and
Speaker 1: I truly don't think he actually cares that much. Um.
Speaker 1: But then he also you know, he whipsaws. You can
Speaker 1: see it in real time. Like sometimes he just seems
Speaker 1: like super ego driven and sometimes he seems very altruistic
Speaker 1: and you know, people can be more than one thing. Yeah,
Speaker 1: for sure, it seems uh he has a history of
Speaker 1: this as well. Right, so he was fined by the
Speaker 1: SEC twenty million dollars. I believe for um manipulating that
Speaker 1: they said he was minigal. Was that when he said
Speaker 1: I'm thinking about taking Tesla private at FO Yeah, So,
Speaker 1: like you know, he has a history of doing this
Speaker 1: with his own stock obviously, Dodge, dose coin and bitcoin.
Speaker 1: So um, it's hard to be hard to believe that
Speaker 1: the whole market could move off of what he says.
Speaker 1: But I want to I want to move. I want
Speaker 1: to move past that and a couple of things. First, Um,
Speaker 1: the energy around bitcoin fund is is is there's so
Speaker 1: many things that we can talk about that, but it
Speaker 1: is a little bit ironic when you look at you know,
Speaker 1: understanding that everything in life has tradeoffs, and so we
Speaker 1: can choose not to use gas and oil for cars,
Speaker 1: so we can use batteries, But then what about the
Speaker 1: mining for the cobalt and the and the lithium and
Speaker 1: what that's doing right? And so everything has a tradeoff
Speaker 1: and I think I think people failed to realize that sometimes. Yeah,
Speaker 1: I think you're right. And you know, I think this
Speaker 1: this responsive of Michael Sailor and some of the North
Speaker 1: American mining companies to you know, have a power out
Speaker 1: with Elon and kind of explain things and you know that's, uh,
Speaker 1: that's a pr move and it's debatable whether you want
Speaker 1: to move an inch. And I hear this from a
Speaker 1: lot of friends, and you know the kind of oil
Speaker 1: and gas industry, and what happens when you sort of
Speaker 1: create one of these like let's be greener type councils,
Speaker 1: and it basically sort of starts down a slip free
Speaker 1: slope and kind of delays progress by decades in many cases.
Speaker 1: So it can go horribly awry when you create one
Speaker 1: of these things. I obviously do have you know, I
Speaker 1: got to be careful with what I say because I'm
Speaker 1: an advisor to Riot Blockchain, which is a publicly listed
Speaker 1: bitcoin miner. But you know, essentially my understanding of what
Speaker 1: the goals of this thing is is really just to
Speaker 1: encourage transparency along the lines of what Riot already does.
Speaker 1: They already publish exactly what their energy sources, and you know, yeah,
Speaker 1: they try to improve it over time, and they engage
Speaker 1: with different stakeholders and respond inquiries from you know, people
Speaker 1: who want greener energy, etcetera, and you know, just trying
Speaker 1: to be trying to be good corporate citizens and exists
Speaker 1: and make money while still not having a target on
Speaker 1: their back. But you know, it's not going to be
Speaker 1: some sort of like cabal that's at the whim of
Speaker 1: green peace or something. It's gonna be transparency and attempts
Speaker 1: to do the right thing, whatever that is for them.
Speaker 1: I'm curious what you think about that. And from a
Speaker 1: bigger standpoint though, because like now, we've seen like Kevin O'Leary,
Speaker 1: Mr Wonderful talking about he wants to wait us to
Speaker 1: mark certain bitcoins as being mind efficiently. We've seen Marathon,
Speaker 1: another big you know, publicly traded company, specifically saying that
Speaker 1: that's what they're doing. Um, do you fear that this
Speaker 1: could lead to like two classes of coins? Not at all.
Speaker 1: I mean honestly, like Bitcoin was built to withstand things
Speaker 1: like this, and the code isn't affected by what miners do. Uh,
Speaker 1: you can't mind clean blocks without sort of not participating
Speaker 1: in the network. And you're not going to be on
Speaker 1: bitcoin anymore. Um in that way, right, you're just gonna
Speaker 1: lose money. UM, so you'll be less efficient. I just
Speaker 1: you know, Mr Wonderful is just obviously like trying to
Speaker 1: create a profit opportunity for himself and using using his
Speaker 1: megaphone and some marketing lingo to to try to create
Speaker 1: an opportunity. Um. What is it with people that are
Speaker 1: on that show just turning into like ridiculous scammers. And
Speaker 1: I'm Mark Human in this case has been one of
Speaker 1: the worst actors that I've seen in business over the
Speaker 1: last couple of years. It's just such a joke. Yeah,
Speaker 1: they I mean, they all want to come in and say,
Speaker 1: you know, I have a better way to fix it
Speaker 1: or whatever it is. And so I think it's just
Speaker 1: funny profit opportunity. But I guess, you know, based off
Speaker 1: of what he's saying or what marathons trying to do UM.
Speaker 1: I mean, they really are trying to create like a
Speaker 1: premium coin that has has no you know, it's not
Speaker 1: tainted as they would call it or whatever. UM it's seeing.
Speaker 1: I made a post about this on Twitter the other day,
Speaker 1: and I got all these mon narrow heads coming out
Speaker 1: and attacking me and telling me, well, that's why Monaro
Speaker 1: is so much better because it's mon arrow is truly fungible.
Speaker 1: Bitcoin is not fungible because it carries this history with it. Hey,
Speaker 1: sorry to interrupt this video just one more time. I'm
Speaker 1: not running Google ads, so it's actually way less interruption
Speaker 1: than I normally would have on a video. UM. And
Speaker 1: that's because it's sponsored by block five. UM. They are
Speaker 1: opening up the world of bitcoin and financial products, offering
Speaker 1: to pay you interest on your bitcoin. UM better than
Speaker 1: own in a rental property that you have to manage
Speaker 1: and control and have the risks. You can just earn
Speaker 1: interest on it or you can leverage against it. Now,
Speaker 1: I plan to hold my bitcoin forever and literally never
Speaker 1: sell my bitcoin. So how do you do that? Well,
Speaker 1: if I need money, I don't want to sell that bitcoin.
Speaker 1: I'm gonna pay tax on it all right, I'm gonna
Speaker 1: end up with less and I don't have the bitcoin anymore.
Speaker 1: So a better way to do it is to borrow
Speaker 1: against the bitcoin. So I've put all my money into bitcoin.
Speaker 1: If I want to buy a car, or I want
Speaker 1: to buy a house, I can borrow against it at
Speaker 1: very very low competitive rates. Get my house, get my car,
Speaker 1: whatever that may be, and get to keep the bitcoin.
Speaker 1: I've done a whole video on this. You can find it.
Speaker 1: I'll link it down to the description below, how to
Speaker 1: retire off a bitcoin without paying taxes, and you can
Speaker 1: do that with block fight services. I'll link to the
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Speaker 1: two dollars in free bitcoin just for using that link.
Speaker 1: And that's it. Let's go ahead and get back to
Speaker 1: the interview. Yeah again, I just don't think it matters, Like,
Speaker 1: if bitcoin is built to withstand this sort of thing,
Speaker 1: then we're fine, and I think it is. Yeah, So yeah,
Speaker 1: I would say that A couple of things that I
Speaker 1: was thinking about is one, um, it's a little bit
Speaker 1: too late. There's eighteen and a half million bitcoin in circulation,
Speaker 1: there's maybe another two or three left. Like, that's not
Speaker 1: enough to drive even if they were to mind all
Speaker 1: the bitcoin left, it's not enough to fracture the market,
Speaker 1: um right, And it is it is. It is fungible
Speaker 1: in the sense that once it gets combined and spent
Speaker 1: and you know, combined with other bitcoins from other sources,
Speaker 1: and then it goes through eight hops, nine hops, ten hops, Like,
Speaker 1: no amount of chain analysis is ever going to be
Speaker 1: able to track like where this stuff comes comes from
Speaker 1: without also flagging every other transaction on the network. So
Speaker 1: it's just a nonstarter. I mean, all of this marketing
Speaker 1: language that Mara has been putting out, and you know,
Speaker 1: it's the same kind of stuff that ch Analysis tries
Speaker 1: to sell the company's you know, it's it's lingo that
Speaker 1: isn't even going to be relevant in the future. Most
Speaker 1: of the most transactions are going to happen over lightning
Speaker 1: in the future anyway, it's completely irrelevant what is marked
Speaker 1: on chain. And that's such a great point, and that's
Speaker 1: the kind of point that I was thinking about with
Speaker 1: the Monaro people, is that you know, most of these
Speaker 1: transactions be forward, won't be done on the main chain
Speaker 1: will be done through lightning net um. And the other
Speaker 1: thing I was thinking is that you could also obvious
Speaker 1: skate Bitcoin's history using other other means as well, coin joins, etcetera. UM,
Speaker 1: and so you could just obviouscate the history that way.
Speaker 1: And then they said, well, merchants won't accept coin bitcoin
Speaker 1: without the history, and it's like, well, then why would
Speaker 1: they accept mon arrow Like right, it's like kind of
Speaker 1: the same thing, it is. Yeah, yeah, you're right. Yeah,
Speaker 1: So I think, uh, you know, I hope you're right.
Speaker 1: I tend to agree with you. I think it's a
Speaker 1: little bit too late. I don't think they're gonna be
Speaker 1: able to change the direction of of bitcoin. It kind
Speaker 1: of does remind me back to the block size wars
Speaker 1: that we saw, you know, leading up to UM, where
Speaker 1: we found out that the miners don't really have that
Speaker 1: much power over the network, and uh, we'll probably have
Speaker 1: to kind of revisit that maybe. Yeah, I mean, what's
Speaker 1: what's funny is, you know, the block size wars were
Speaker 1: much bigger existential threat. I don't think it actually got
Speaker 1: to that point obviously, but it was a much bigger
Speaker 1: threat to bitcoin than this is this is recycled. This
Speaker 1: has been around in you know, energy foot around bitcoin
Speaker 1: and basically just not understanding that energy usage doesn't scale
Speaker 1: proportionally with transaction volume like number of transactions, and definitely
Speaker 1: not with the amount of value being moved by those transactions.
Speaker 1: It's such a simple and silly error that people seem
Speaker 1: to understand in other domains that you know, it doesn't
Speaker 1: cost a thousand times more to run the internet because
Speaker 1: the Internet is carrying a thousand times more information. That's stupid.
Speaker 1: The cost of everything that's used to create and run
Speaker 1: the Internet goes down over time and things get more efficient.
Speaker 1: It's the same thing with bitcoin. And also you can
Speaker 1: send a billion dollars of bitcoin for the same amount
Speaker 1: of power as sending a dollar, you know. So it's
Speaker 1: just a fundamental misunderstanding. Only simple people that haven't done
Speaker 1: their research even promote this sort of stuff, and the
Speaker 1: truth will win out. And again this was like a
Speaker 1: number four and number five concern. What gives me optimism
Speaker 1: about bitcoin is that the worst of the fund is
Speaker 1: something that's been around for like eight nine years and
Speaker 1: is just being trotted out again by people with no
Speaker 1: credibility or who haven't done their research or have the
Speaker 1: strict incentive because they work at you know, the Bank
Speaker 1: of Netherlands or something like that, and they're part of
Speaker 1: creatures of the yacht system and you know, arguing against
Speaker 1: it for those reasons or for ideological reasons or something.
Speaker 1: All right, well, that's good to know. I want to
Speaker 1: switch gears a little bit now. And UM, I like
Speaker 1: to say that I believe that UM. You know, real
Speaker 1: investors always are looking for asymmetric opportunities, right, more upside
Speaker 1: than downside. UM. And I say that the way to
Speaker 1: get those asymmetric opportunities is by asymmetric information. You have
Speaker 1: to know something that most people don't have. So that's
Speaker 1: what I'm open to get from you now, Corey, because UM,
Speaker 1: you have insight into some order books and the movement
Speaker 1: of big players and things like that. So I want
Speaker 1: to dig into what's actually kind of not just the news,
Speaker 1: but what's really going on, UM, before we get the
Speaker 1: super secret information that I'm gonna make you share with
Speaker 1: us here in a second. UM, we did see that
Speaker 1: maybe maybe the most successful well known investors in the world,
Speaker 1: definitely the largest hedge fund in the world, Radalio UM,
Speaker 1: who has been against bitcoin, started to think about bitcoin,
Speaker 1: started to talk about bitcoin, and now has come out
Speaker 1: and said that he is a bitcoin holdler. Yeah yeah, yeah, yeah,
Speaker 1: so I mean, I mean, in retrospect, it was inevitable,
Speaker 1: as we often say. Uh And and what's inevitable is
Speaker 1: if you actually go in with an open mind and
Speaker 1: and don't have so much ego in the position that
Speaker 1: you've previously taken that you're unable to change your mind publicly.
Speaker 1: Then by definition, once you understand bitcoin, if you're honest
Speaker 1: and don't have some sort of like massive financial incentive
Speaker 1: to lie, then you'll end up with his position, the
Speaker 1: one he's growing into. Um to level come around in
Speaker 1: the end as well, unless his ego gets in the way. Yeah,
Speaker 1: you know, they all will. If Munger lived to a
Speaker 1: hundred and fifty, eventually he'd become a bitcoiner. He may
Speaker 1: not make it, he may expire before he understands bitcoin,
Speaker 1: but you know, it's inevitable that anyone who's honest and
Speaker 1: actually puts in the work will actually understand what's going
Speaker 1: on here. Yeah. I did a video that just went
Speaker 1: live yesterday. Well at the time we're recording this anyway,
Speaker 1: um and I was talking about kind of this this
Speaker 1: fud and kind of breaking the lit it down. And
Speaker 1: I was talking about Charlie or I'm sorry, Warren Buffett
Speaker 1: and how he came out big time against Amazon seeing
Speaker 1: it was a joke, it was a dream, it would
Speaker 1: never work, blah blah blah blah blah for years and
Speaker 1: years and years and years and years and years for
Speaker 1: a decade. Finally he takes an eight hundred million dollar position.
Speaker 1: So I think that kind of gives you an IDM.
Speaker 1: And Warren Buffett finally came around. He missed the opportunity
Speaker 1: because he kept saying it was a joke, it was
Speaker 1: a dream, would never work. He had a chance to
Speaker 1: buy it at a dollar or five dollars or ten dollars,
Speaker 1: but instead he bought it in in a thousand dollars, a
Speaker 1: hundred million dollars worth. And I think we'll probably see
Speaker 1: the same thing. But I think it was big for
Speaker 1: Dahio to come around. Um, his cf CFO from Bridgewater
Speaker 1: left to go join a bitcoin company. Maybe that was
Speaker 1: something to pushed him over the edge. But one thing
Speaker 1: that he said that I thought was pretty powerful, pretty
Speaker 1: important that maybe people missed out on, is that I
Speaker 1: mean he basically said he would rather own bitcoin than bonds.
Speaker 1: And this is like the bond king guy, you know,
Speaker 1: his entire career has basically been surfing on a forty
Speaker 1: year bond market bull run and he knows that's over. Yeah,
Speaker 1: he's come out last couple of years, he's been saying
Speaker 1: cash is trash. Um. There was an article that he
Speaker 1: wrote a few months ago where I think he said
Speaker 1: cash is such trash that I would probably borrow against
Speaker 1: cash and go buy more assets. And now he's come
Speaker 1: out against the bond market and said he'd rather hold bitcoin.
Speaker 1: So I think that's a massive catalyst. Um. I don't
Speaker 1: know if you guys have talked with with Greg fosse Um,
Speaker 1: so you know he's a big career bond trader, and uh,
Speaker 1: he broke down the math of just like how big
Speaker 1: the bond market is and how even just a small
Speaker 1: piece of that coming over into bitcoin would just be monumental. Yeah,
Speaker 1: that's right. Yeah, it's it's absolutely true. And I think
Speaker 1: it's really a great point of attack for those of
Speaker 1: us trying to increase bitcoin adoption, both number of people
Speaker 1: and monetarily, is to really attack the bond part of
Speaker 1: people's portfolios. Yeah so um yeah, so man, it's like
Speaker 1: the noise is temporary distraction. I like to say that
Speaker 1: um volatility is the difference of perception and reality. So
Speaker 1: the reality is that bitcoin is the network is growing,
Speaker 1: the development is growing. The reality as we have an
Speaker 1: upward trajection, but the perception gets a little over ahead
Speaker 1: of it and then it snaps back below and it
Speaker 1: kind of awesomely it's back and forth over reality. And
Speaker 1: I think these opportunities, these these bitcoin fud that this
Speaker 1: news are opportunities where it brings reality below I'm sorry,
Speaker 1: perception below reality. And that's our opportunity. So maybe you
Speaker 1: can kind of share with us what you're seeing. I know,
Speaker 1: SWAN work some high net worth clients and whatnot. We
Speaker 1: do I mean across the board, right, you can start
Speaker 1: with as little as ten dollars a month, but you
Speaker 1: can also buy you know, tens of millions of dollars
Speaker 1: through us, And we have customers at both ends and
Speaker 1: everywhere in between. And I think what's nice about the
Speaker 1: signal that you can get from what's been going on
Speaker 1: with Swan in the last month in this this dip
Speaker 1: let's call it, uh, Most of our customers understand bitcoin
Speaker 1: pretty well. Otherwise they wouldn't have been pointed towards us
Speaker 1: in the first place, because you're kind of finding Swan
Speaker 1: as you start to go down the rabbit hole and
Speaker 1: you find out where the signal is and all of
Speaker 1: the noise, you know, you're not going to find out
Speaker 1: about Swan on some you know, random crypto crypto t
Speaker 1: a channel on YouTube. It's like when you find bitcoin
Speaker 1: authors and bitcoin podcasters and like the smart voices on
Speaker 1: bitcoin Twitter, that's when you see people recommending Swan. And
Speaker 1: so what's really interesting is our two biggest weeks in
Speaker 1: our company's history were the last two weeks. So the
Speaker 1: people that actually understand bitcoin have been backing up the
Speaker 1: truck and buying as much as possible. That's important. That's
Speaker 1: what we hear, and all our social channels and all
Speaker 1: of our customer support and just seeing the flow. We've
Speaker 1: never been busier. We've hired more people in the last
Speaker 1: month than any month in company history, and we've had
Speaker 1: our best month ever m by far. I like that distinction,
Speaker 1: being you know, a long time investor and studying the
Speaker 1: stock markets. Um they differentiate and they call them the
Speaker 1: smart the smart money and the dumb money and smart
Speaker 1: money or the institutions and things like that. UM. In
Speaker 1: the in the bitcoin market, it's harder to define that
Speaker 1: part because it's anonymous. But um, I think that was
Speaker 1: a great point that you made, right, Like, the smart
Speaker 1: money are the ones that are actually producing the content
Speaker 1: the education, um, and they're the ones that are kind
Speaker 1: of funneling into your company. So when your company is exploding,
Speaker 1: it looks like the smart money is the one buying.
Speaker 1: If you define smart money as people that actually understand
Speaker 1: that coin, people who understand that coin are buying like
Speaker 1: crazy right now, right yeah, and I would I mean,
Speaker 1: those are the ones that have spent the time to
Speaker 1: educate themselves and spent the time to understand it better. Yeah,
Speaker 1: well that's good news. So UM, I guess the I
Speaker 1: guess the inside edge the asymmetric information from from Corey
Speaker 1: is that the smart money, the educated people are buying, UM,
Speaker 1: they're ignoring the fud and that's probably the trend. Yeah, absolutely,
Speaker 1: I mean that you know often look to that. You know,
Speaker 1: what do you understand, what do you know that few
Speaker 1: people understand, or what do you understand that few people
Speaker 1: believe to be true? Or whatever? It is you know,
Speaker 1: I like, I like to point out that UM, people
Speaker 1: who understand bitcoin buy a lot more bitcoin then you know,
Speaker 1: let's say someone who has a cursory understanding of like
Speaker 1: crypto and maybe a little bit of bitcoin, and they're
Speaker 1: trading on different exchanges or apps or whatever. And I
Speaker 1: think it's really interesting, you know, like I can compare
Speaker 1: only to sort of public company numbers, but you look
Speaker 1: at like Voyager up in Canada, which trades a million
Speaker 1: cryptos and has super high margins, and you know, we
Speaker 1: make significantly more revenue per user per month, even though
Speaker 1: our margins are much lower. So we take lower fees
Speaker 1: and you can only buy bitcoin only one coin and
Speaker 1: you can only buy in. Our fees are lower, and
Speaker 1: we make a lot more money per user than they do.
Speaker 1: And so there's a lot of noise out there with
Speaker 1: all this this crypto crapto or whatever. But the signal
Speaker 1: is in the people that actually understand what's going on here,
Speaker 1: which you talk about all the time, which is that
Speaker 1: we're watching in real time the adoption globally of a
Speaker 1: new monetary asset in a new sort of organizing layer
Speaker 1: for global society. UM that basically equates to our best
Speaker 1: shot at freedom. Yeah, that's my belief. It's the only
Speaker 1: tool that we really have at this point, and to me,
Speaker 1: it's that important. So um, with that, I guess would
Speaker 1: wrap it up. Thanks so much for joining us Daycoin.
Speaker 1: Anything you want to shout out obviously swan Bitcoin, anything
Speaker 1: that you're doing, anything where they want to direct people
Speaker 1: to fall Yeah, no, I mean, I think it would
Speaker 1: just be nice for people to know. Since the last
Speaker 1: time I came on that we really ramped up our
Speaker 1: private client services division and we have like salespeople and
Speaker 1: account management. We're really trying to turn into like Bitcoin's
Speaker 1: customer service team, and we will talk to you on
Speaker 1: a zoom or on a phone call and go back
Speaker 1: and forth on email and text message and really explain
Speaker 1: bitcoin to you. If you're looking to move a decent
Speaker 1: chunky your portfolio over into bitcoin, so just go to
Speaker 1: swan bitcoin dot com, slash private and uh and sign
Speaker 1: up there. Let them know that Mark Moss sent you,
Speaker 1: so give him a little somet's on the back end maybe,
Speaker 1: but you know, I just uh, I think we're really
Speaker 1: out there educating and we'll take the time to explain
Speaker 1: bitcoin to you and and help you along this journey
Speaker 1: and help you get set up. So that's that's our mission. Cool,
Speaker 1: and I'm gonna make sure to put the links down
Speaker 1: in the description down below for anybody who's listening wants
Speaker 1: to go check that out for more. And with that
Speaker 1: we'll go ahead and wrap it up. Thanks so much, Corey. Yeah,
Speaker 1: thanks Mark, thanks for having me on, all right,