1 00:00:00,200 --> 00:00:02,960 Speaker 1: Hello, and welcome to another episode of The Markmas Show, 2 00:00:03,000 --> 00:00:06,000 Speaker 1: where we talk about the world that's changing right before 3 00:00:06,000 --> 00:00:08,880 Speaker 1: our very eyes. We're talking about the decentralized revolution that 4 00:00:08,960 --> 00:00:12,799 Speaker 1: is changing everything, everything that we've known to be the 5 00:00:12,840 --> 00:00:14,840 Speaker 1: way it has been for our lives, and it's changing 6 00:00:14,920 --> 00:00:17,000 Speaker 1: right now. We're talking about the intersection of politics, finance, 7 00:00:17,000 --> 00:00:20,840 Speaker 1: and technology. Of course we're talking about bitcoin cryptocurrencies. That's 8 00:00:20,840 --> 00:00:23,040 Speaker 1: what is happening right now. It's always technology that changes 9 00:00:23,120 --> 00:00:27,000 Speaker 1: the world. The politics and the finance move around that, 10 00:00:27,840 --> 00:00:29,800 Speaker 1: and so we like to look at those three things 11 00:00:29,800 --> 00:00:31,520 Speaker 1: so we can kind of give you the play by play. 12 00:00:32,280 --> 00:00:34,760 Speaker 1: And there's a lot happening. There is a lot happening 13 00:00:34,880 --> 00:00:38,040 Speaker 1: right now in the bitcoin space, and it's in the 14 00:00:38,040 --> 00:00:40,880 Speaker 1: economy overall, in the monetary system. I mean, we see 15 00:00:41,600 --> 00:00:46,199 Speaker 1: stocks plumbing, dropping like a rock. We see currencies, nation's 16 00:00:46,240 --> 00:00:51,080 Speaker 1: currencies around the world literally crashing and collapsing all around us. 17 00:00:51,360 --> 00:00:58,920 Speaker 1: The bond markets are blowing up, and why well, that's 18 00:00:58,960 --> 00:01:01,200 Speaker 1: exactly what we're talking about. We can see that the 19 00:01:01,320 --> 00:01:04,959 Speaker 1: US dollar has been getting stronger and stronger and stronger. 20 00:01:05,000 --> 00:01:07,280 Speaker 1: As a matter of fact, it's at the strongest point 21 00:01:07,280 --> 00:01:10,880 Speaker 1: it's been at in a very long time. But what 22 00:01:10,920 --> 00:01:14,399 Speaker 1: does that really mean, right, Like, great, the dollars getting stronger, 23 00:01:14,800 --> 00:01:19,160 Speaker 1: but it's getting stronger against other currencies. It's not getting 24 00:01:19,240 --> 00:01:23,280 Speaker 1: stronger in terms of purchasing power. So it's back up 25 00:01:23,319 --> 00:01:26,120 Speaker 1: to probably the highest point it's been since two thousand 26 00:01:26,160 --> 00:01:31,920 Speaker 1: and seventeen, which is quite a while. But what that 27 00:01:31,959 --> 00:01:36,360 Speaker 1: means is that other currencies are getting weaker it. What 28 00:01:36,400 --> 00:01:39,440 Speaker 1: it doesn't mean is that the dollar still buys you 29 00:01:39,560 --> 00:01:41,640 Speaker 1: less goods and services than did before, but the dollars 30 00:01:41,680 --> 00:01:44,080 Speaker 1: getting stronger. And that's because, like I said, all the 31 00:01:44,080 --> 00:01:47,880 Speaker 1: other currencies, the Japanese yen is like literally falling off 32 00:01:47,880 --> 00:01:50,000 Speaker 1: a cliff, like about to implode. Of course some of 33 00:01:50,000 --> 00:01:53,320 Speaker 1: the and that's Japan. That's that's a serious hearings currency. 34 00:01:53,440 --> 00:01:56,320 Speaker 1: The Euro is crashing like a rock. I mean, it's 35 00:01:56,320 --> 00:01:58,840 Speaker 1: insane how fast it's falling, which is why the dollar 36 00:01:59,600 --> 00:02:03,040 Speaker 1: is shooting up so high. So currencies are crashing, countries 37 00:02:03,080 --> 00:02:08,680 Speaker 1: are crashing. Sri Lanka just just fell, Peru's falling, Lebanon fell, 38 00:02:09,200 --> 00:02:11,639 Speaker 1: I mean, it is, it's just catastrophe all around us. 39 00:02:12,360 --> 00:02:14,840 Speaker 1: And then we have tech stocks, I mean, the tech stocks, 40 00:02:14,840 --> 00:02:17,720 Speaker 1: which were the darlings I'm talking about Peloton is down 41 00:02:17,880 --> 00:02:22,800 Speaker 1: eighty eight percent. Eighty eight percent, that's like, that's series. 42 00:02:22,880 --> 00:02:27,600 Speaker 1: That's a great depression level numbers. Eighty eight percent. Zoom Zoom, which, 43 00:02:27,680 --> 00:02:29,320 Speaker 1: of course you know what Zoom is down today was 44 00:02:29,360 --> 00:02:33,360 Speaker 1: the was the darling stock that blew up during the pandemic. 45 00:02:33,440 --> 00:02:36,919 Speaker 1: Everybody's working from home using Zoom. It's down eighty three percent. 46 00:02:37,760 --> 00:02:41,200 Speaker 1: Shopify again, right, everybody's buying stuff online. Shopify blew up. 47 00:02:41,200 --> 00:02:45,239 Speaker 1: It's down seventy five percent. I mean, these are depression 48 00:02:45,360 --> 00:02:49,919 Speaker 1: era numbers. The market's super turbulent, the bonds are crashing, 49 00:02:49,960 --> 00:02:53,919 Speaker 1: nobody wants to buy the debt. But while all that's happening, 50 00:02:55,200 --> 00:02:58,160 Speaker 1: Bitcoin's just kind of hanging on like a boss. I 51 00:02:58,240 --> 00:03:00,000 Speaker 1: gotta say, you know, if you listen to my show 52 00:03:00,000 --> 00:03:01,880 Speaker 1: in a regular basis, you know I don't talk about 53 00:03:01,919 --> 00:03:05,240 Speaker 1: the price of bitcoin all that much because I think 54 00:03:05,280 --> 00:03:08,120 Speaker 1: it's one of the least interesting things to talk about. 55 00:03:08,840 --> 00:03:13,040 Speaker 1: The way it's changing the world. The development of the technology, 56 00:03:13,520 --> 00:03:15,880 Speaker 1: the adoption of mind share that it's sucking in from 57 00:03:15,919 --> 00:03:19,080 Speaker 1: those world those are exciting to me. The price, you know, 58 00:03:19,120 --> 00:03:21,040 Speaker 1: the price is doing this thing. It's getting there, and 59 00:03:22,040 --> 00:03:24,480 Speaker 1: it'll take care of itself. But man, when the whole 60 00:03:24,520 --> 00:03:26,880 Speaker 1: financial world is melting down, like I said, literally, these 61 00:03:26,880 --> 00:03:31,680 Speaker 1: tech stalks are down eighty eight percent, that's insane. Currencies 62 00:03:31,680 --> 00:03:35,560 Speaker 1: are are literally blowing up like the end the Japanese yen. 63 00:03:35,640 --> 00:03:37,280 Speaker 1: I mean it's one thing like Serlanker or Lebanon what 64 00:03:37,280 --> 00:03:39,440 Speaker 1: I'm talking about the Japanese en, I'm talking about the euro. 65 00:03:40,560 --> 00:03:42,800 Speaker 1: And here Bitcoin is just hanging on like a boss 66 00:03:42,800 --> 00:03:46,880 Speaker 1: sitting at forty thousand. Now you might go, Mark, but 67 00:03:46,920 --> 00:03:50,320 Speaker 1: that's that's that's bad, right, because Bitcoin was was. It's down. 68 00:03:50,880 --> 00:03:53,800 Speaker 1: It's down from you know, sixty whatever, it hit sixty 69 00:03:53,800 --> 00:03:57,040 Speaker 1: five thousand, sixty nine thousand, it's down from that. How 70 00:03:57,040 --> 00:03:58,960 Speaker 1: can you say that's good? Mark? Well, I mean it 71 00:03:59,320 --> 00:04:01,880 Speaker 1: briefly hit that. I mean it briefly hit that. Right. 72 00:04:03,480 --> 00:04:05,880 Speaker 1: If we go back, you know, two years ago it 73 00:04:05,960 --> 00:04:09,960 Speaker 1: was like seven thousand. So to go from seven thousand 74 00:04:10,000 --> 00:04:12,440 Speaker 1: to forty thousand's pretty dang good. I guess it depends 75 00:04:12,440 --> 00:04:15,120 Speaker 1: if you're a glass, a glass half full or a 76 00:04:15,160 --> 00:04:18,240 Speaker 1: glass half empty kind of guy. I might look at 77 00:04:18,240 --> 00:04:20,320 Speaker 1: a glass and go, shoot, man, I got a glass 78 00:04:20,360 --> 00:04:22,680 Speaker 1: half full of water, and you might go, yeah, it's 79 00:04:22,720 --> 00:04:26,039 Speaker 1: you have a glass half empty, and so yeah, I 80 00:04:26,040 --> 00:04:29,400 Speaker 1: mean it did briefly, it did briefly hit that that level. 81 00:04:30,279 --> 00:04:33,200 Speaker 1: But that's that's the that's the high water mark. Like 82 00:04:33,240 --> 00:04:36,160 Speaker 1: I said, I mean, it's up two years ago it 83 00:04:36,200 --> 00:04:38,480 Speaker 1: was at seven thousand, and now it's at forty thousand. 84 00:04:38,720 --> 00:04:40,960 Speaker 1: But like I said, more importantly, what I'm saying is 85 00:04:40,960 --> 00:04:43,279 Speaker 1: that when the whole world is melting down, literally one 86 00:04:43,320 --> 00:04:45,799 Speaker 1: of the biggest economies in the world, Japan's currency is failing, 87 00:04:45,839 --> 00:04:50,560 Speaker 1: the Euro failing tech stocks, the darlings, the zooms, the 88 00:04:50,600 --> 00:04:54,320 Speaker 1: shopifies are down over eighty percent, and Bitcoin is just 89 00:04:54,360 --> 00:04:57,240 Speaker 1: sitting there in forty k like a boss. I'm doing 90 00:04:57,240 --> 00:04:59,360 Speaker 1: pretty good. Now could it drop more? It's sure could. 91 00:04:59,680 --> 00:05:02,640 Speaker 1: There's plenty of people with opinions about it. You can 92 00:05:02,680 --> 00:05:06,080 Speaker 1: find no shortage of opinions every day all across Twitter. 93 00:05:06,200 --> 00:05:09,320 Speaker 1: You can find people saying that bitcoin's gonna drop to 94 00:05:09,360 --> 00:05:12,880 Speaker 1: twenty thousand, or twenty five thousand, or thirty thousand. But 95 00:05:12,880 --> 00:05:16,400 Speaker 1: then you know, across CNBC and Bloomberg you have people 96 00:05:16,800 --> 00:05:19,160 Speaker 1: City Bank and JP Morgan saying it's gonna hit one 97 00:05:19,200 --> 00:05:22,880 Speaker 1: hundred thousand, one hundred and forty thousand. Your guess is 98 00:05:22,920 --> 00:05:25,279 Speaker 1: as good as anybody else's. But what I like to 99 00:05:25,320 --> 00:05:30,280 Speaker 1: see is that typically Mark, these academics want to make 100 00:05:30,279 --> 00:05:33,040 Speaker 1: these things too complicated, and things are actually very simple. 101 00:05:34,600 --> 00:05:38,200 Speaker 1: Let me break it down for you. Markets stop going 102 00:05:38,320 --> 00:05:42,559 Speaker 1: up when there's no more buyers. Imagine that, they also 103 00:05:42,680 --> 00:05:49,400 Speaker 1: stop going down when there's no more sellars. Imagine that also, 104 00:05:50,120 --> 00:05:54,240 Speaker 1: when bad news doesn't drive the market, it's also a 105 00:05:54,240 --> 00:05:57,120 Speaker 1: good sign. So here we are full of bad news. 106 00:05:58,160 --> 00:06:00,640 Speaker 1: The world's melting down, the current and sees at the world. 107 00:06:00,640 --> 00:06:03,880 Speaker 1: They're crashing, the euro, the yen, the best stocks, the zoom, 108 00:06:03,960 --> 00:06:07,000 Speaker 1: the shopify as they're down, the bonds are blowing up. 109 00:06:07,960 --> 00:06:12,000 Speaker 1: And Bitcoin is just hanging on now. Like I said, 110 00:06:12,160 --> 00:06:14,920 Speaker 1: it's the least important thing. If the price drops to 111 00:06:15,000 --> 00:06:18,600 Speaker 1: thirty thousand or twenty thousand, I don't really care. I'm 112 00:06:18,640 --> 00:06:20,360 Speaker 1: not thinking about it short term like that. I'm thinking 113 00:06:20,360 --> 00:06:22,599 Speaker 1: about a longer term. But I do like to see that, 114 00:06:22,800 --> 00:06:25,120 Speaker 1: like I said, it's just hanging on, sitting at that 115 00:06:25,160 --> 00:06:28,000 Speaker 1: support line now. I had previously sat on a support 116 00:06:28,080 --> 00:06:32,120 Speaker 1: line back in May, kind of made a July of 117 00:06:32,279 --> 00:06:35,320 Speaker 1: last year, and had really found support at this U 118 00:06:36,000 --> 00:06:39,800 Speaker 1: thirty thousand area. And here we are about not even 119 00:06:39,880 --> 00:06:41,960 Speaker 1: about about ten months later. Now it's finding support at 120 00:06:42,000 --> 00:06:44,600 Speaker 1: this forty thousand, So that's what I look at. That's progress. 121 00:06:44,920 --> 00:06:47,040 Speaker 1: It made support last time at thirty thousand, now it's 122 00:06:47,040 --> 00:06:50,279 Speaker 1: making support at forty thousand. I like that. Higher lows 123 00:06:50,400 --> 00:06:52,920 Speaker 1: is what we call that, and that's just because there's 124 00:06:52,960 --> 00:06:54,960 Speaker 1: so much good. Like I said, when the whole world 125 00:06:55,040 --> 00:06:59,280 Speaker 1: melting down, bitcoin is proving to be that stable asset 126 00:06:59,320 --> 00:07:01,599 Speaker 1: for us. And it's no surprise. I mean, more and 127 00:07:01,680 --> 00:07:04,960 Speaker 1: more people, more and more companies and countries are jumping 128 00:07:05,000 --> 00:07:08,000 Speaker 1: in on this. Of course, I've talked about many times. 129 00:07:08,040 --> 00:07:11,200 Speaker 1: El Salvador has made it legal tender, and there's been 130 00:07:11,200 --> 00:07:13,760 Speaker 1: a lot of speculation about which country will be next, 131 00:07:15,440 --> 00:07:17,520 Speaker 1: which country will be the next one to come on board. 132 00:07:19,000 --> 00:07:22,440 Speaker 1: I've talked a lot about some speculation about which countries 133 00:07:22,480 --> 00:07:26,720 Speaker 1: it is. I've talked about some states in the United 134 00:07:26,760 --> 00:07:33,200 Speaker 1: States maybe getting on board, and we've actually seen it. 135 00:07:33,240 --> 00:07:36,440 Speaker 1: I speculated that I thought Mexico might be the next one, 136 00:07:36,920 --> 00:07:41,200 Speaker 1: and I'm wrong. Mexico does have a bill that it's presented, 137 00:07:41,520 --> 00:07:46,000 Speaker 1: but it hasn't been passed yet. But this week two 138 00:07:46,040 --> 00:07:50,120 Speaker 1: other countries jumped ahead. They put their hat in the ring. 139 00:07:50,680 --> 00:07:55,400 Speaker 1: And it's not just not just two other countries. One 140 00:07:55,400 --> 00:07:57,560 Speaker 1: of the one of the fastest growing cities in the 141 00:07:57,640 --> 00:08:01,440 Speaker 1: United States decided to jump in, and we saw one 142 00:08:01,480 --> 00:08:05,280 Speaker 1: of the largest financial institutions in the United States are 143 00:08:05,320 --> 00:08:10,280 Speaker 1: I'm actually in the world with eleven point three trillion 144 00:08:10,360 --> 00:08:13,200 Speaker 1: dollars eleven point three twillion dollars in assets jump in 145 00:08:13,280 --> 00:08:15,840 Speaker 1: as well. A lot of stuff going on, which is 146 00:08:15,880 --> 00:08:19,120 Speaker 1: probably why bitcoin's hanging on like a boss. At forty thousand, 147 00:08:19,640 --> 00:08:22,400 Speaker 1: you're listening to the Mark Mos Show. We're talking about bitcoin. 148 00:08:22,480 --> 00:08:25,080 Speaker 1: Of course, we're talking about this decentralized revolution the world 149 00:08:25,160 --> 00:08:29,040 Speaker 1: is going through. We're talking about how bitcoin has been 150 00:08:29,080 --> 00:08:31,440 Speaker 1: hanging on in the world as the world is crashing. 151 00:08:31,680 --> 00:08:33,240 Speaker 1: And I want to tell you some of the exact 152 00:08:33,320 --> 00:08:35,679 Speaker 1: reasons why I think that's happening. A couple of countries 153 00:08:35,840 --> 00:08:37,800 Speaker 1: have brought it on. The largest asset management the worlds 154 00:08:37,800 --> 00:08:39,360 Speaker 1: brought it on. Some of the cities in the US 155 00:08:39,360 --> 00:08:42,280 Speaker 1: have brought it on, and so much more. Don't go away, 156 00:08:42,320 --> 00:08:44,560 Speaker 1: all right, welcome back. You're listening to the Mark Mos Show. 157 00:08:44,559 --> 00:08:47,920 Speaker 1: We're talking about bitcoin, We're talking about cryptocurrencies, We're talking 158 00:08:47,920 --> 00:08:51,400 Speaker 1: about the decentralized revolution. We were talking about before the break, 159 00:08:51,440 --> 00:08:55,080 Speaker 1: how the world is melting down literally currencies like the 160 00:08:55,080 --> 00:08:58,280 Speaker 1: euro and the yen. We've already seen the small countries 161 00:08:58,320 --> 00:08:59,720 Speaker 1: below up, but now the big countries like the Euro 162 00:08:59,800 --> 00:09:02,200 Speaker 1: on the and are blowing up. The bond markets crashing, 163 00:09:02,240 --> 00:09:05,480 Speaker 1: and then the big tech stocks Peloton, Zoom, Shopify, they're 164 00:09:05,480 --> 00:09:09,080 Speaker 1: all down more than eighty percent. That's depression era numbers 165 00:09:09,800 --> 00:09:11,920 Speaker 1: and bitcoins sitting there like a boss forty k just 166 00:09:12,000 --> 00:09:13,520 Speaker 1: kind of sitting there at support. Now. It could go 167 00:09:13,559 --> 00:09:15,959 Speaker 1: down more, it could go up more. I don't know, 168 00:09:16,200 --> 00:09:19,439 Speaker 1: And to be honest with you, neither does anybody else. 169 00:09:21,040 --> 00:09:23,720 Speaker 1: Neither does anybody else, So you know, we'll see. We'll 170 00:09:23,760 --> 00:09:25,680 Speaker 1: take it for what it's worth. But I was talking 171 00:09:25,720 --> 00:09:29,280 Speaker 1: about how El Savador was the first country to actually 172 00:09:29,320 --> 00:09:31,280 Speaker 1: make it legal tender, which is a pretty big deal. 173 00:09:31,360 --> 00:09:33,000 Speaker 1: I've been down to El Savador a couple of times. 174 00:09:33,000 --> 00:09:35,760 Speaker 1: It's amazing place. I'm a surfer, so they've got good waves. 175 00:09:35,760 --> 00:09:37,120 Speaker 1: I've been going down there quite a bit for that. 176 00:09:38,200 --> 00:09:40,720 Speaker 1: But I've been we've been speculating which country is gonna 177 00:09:40,720 --> 00:09:42,079 Speaker 1: be next. Like I said, I thought it would be Mexico. 178 00:09:42,120 --> 00:09:43,520 Speaker 1: They do have a bill in place. It hasn't been 179 00:09:43,520 --> 00:09:48,199 Speaker 1: passed yet, but it looks like a couple of things. 180 00:09:48,200 --> 00:09:52,560 Speaker 1: So one we saw Panama through their hat in the ring, 181 00:09:53,160 --> 00:09:57,280 Speaker 1: and they have a bitcoin bill that's gone through its 182 00:09:57,440 --> 00:10:01,040 Speaker 1: three stages of debate, went through three levels of Congress, 183 00:10:01,080 --> 00:10:04,280 Speaker 1: got passed by Congress in Panama, and is now as 184 00:10:04,320 --> 00:10:08,520 Speaker 1: of now by time i'm recording this, that it's on 185 00:10:08,600 --> 00:10:12,760 Speaker 1: the President's desk to be signed. Now, what I like 186 00:10:12,800 --> 00:10:16,040 Speaker 1: about this bill that's different than the bill that happened 187 00:10:16,040 --> 00:10:18,280 Speaker 1: in Pana, I'm sorry in El Salvador is that El 188 00:10:18,320 --> 00:10:23,320 Speaker 1: Savador made bitcoin legal tender. Panama is just trying to 189 00:10:23,360 --> 00:10:27,120 Speaker 1: make it legal, so it's different, not legal tender, they're 190 00:10:27,120 --> 00:10:31,160 Speaker 1: making it legal. What's the difference, Well, legal tender means 191 00:10:31,200 --> 00:10:34,400 Speaker 1: that if a country labels something as legal tender, then 192 00:10:34,520 --> 00:10:37,559 Speaker 1: that means everybody in the country has to accept that 193 00:10:37,640 --> 00:10:39,880 Speaker 1: money for a good or service. So in the United States, 194 00:10:39,960 --> 00:10:44,600 Speaker 1: for example, the US dollar is legal tender, and so 195 00:10:44,679 --> 00:10:46,560 Speaker 1: if you have a business in the United States, you 196 00:10:46,640 --> 00:10:51,560 Speaker 1: have to accept dollars. In El Savador, they use dollars 197 00:10:51,679 --> 00:10:54,480 Speaker 1: and they use bitcoin now, and so every business now 198 00:10:54,640 --> 00:10:58,360 Speaker 1: has to accept bitcoin. So now in El Salvador, if 199 00:10:58,400 --> 00:11:00,800 Speaker 1: you go to McDonald's, you go to Starbucks, you can 200 00:11:00,840 --> 00:11:04,680 Speaker 1: spend your bitcoin there. They have to take it. In Panama, 201 00:11:04,960 --> 00:11:08,800 Speaker 1: they're doing something different where it's not legal tender. It's 202 00:11:08,880 --> 00:11:14,240 Speaker 1: just lea goal and so what does that mean. So basically, 203 00:11:14,679 --> 00:11:17,640 Speaker 1: because it's legal, they're not going to tax it as 204 00:11:17,760 --> 00:11:20,880 Speaker 1: property and that's a big deal. So for those of 205 00:11:20,880 --> 00:11:25,880 Speaker 1: you that don't know, bitcoin is considered property by the irs, 206 00:11:26,400 --> 00:11:29,000 Speaker 1: and so that means that just like any other property, 207 00:11:29,000 --> 00:11:32,960 Speaker 1: which would be real estate or gold, or stock like 208 00:11:33,040 --> 00:11:36,480 Speaker 1: Tesla stock or Apple stock, if you own any of 209 00:11:36,520 --> 00:11:40,160 Speaker 1: that property. If I buy Apple stock at you know whatever, 210 00:11:40,200 --> 00:11:42,640 Speaker 1: a thousand dollars and I sell it at two thousand dollars, 211 00:11:43,880 --> 00:11:46,160 Speaker 1: there's a thousand dollars a profit. I OT tax capital 212 00:11:46,200 --> 00:11:48,360 Speaker 1: gains tax. If I buy a house for one hundred 213 00:11:48,360 --> 00:11:50,560 Speaker 1: thousand and sell it for two hundred thousand, that one 214 00:11:50,640 --> 00:11:53,440 Speaker 1: hundred thousand dollars gain that profit I at tax capital 215 00:11:53,440 --> 00:11:57,920 Speaker 1: gains tax. Same with bitcoin, same with gold, which makes 216 00:11:57,920 --> 00:12:00,240 Speaker 1: it very difficult to use it as a currency because 217 00:12:00,280 --> 00:12:01,640 Speaker 1: then I have to pay tax every single time I 218 00:12:01,720 --> 00:12:04,800 Speaker 1: use it. But Panama said no, we're gonna make it legal, 219 00:12:05,960 --> 00:12:08,920 Speaker 1: and so there's no no cap gains tax on it, 220 00:12:09,480 --> 00:12:13,000 Speaker 1: but it's not legal tender, meaning we're not going to 221 00:12:13,120 --> 00:12:16,240 Speaker 1: force merchants to accept it. So that's the big difference, 222 00:12:16,760 --> 00:12:18,800 Speaker 1: and I like that. I think it's actually a better 223 00:12:18,840 --> 00:12:20,000 Speaker 1: way to do it. As a matter of fact, I 224 00:12:20,040 --> 00:12:22,280 Speaker 1: tweeted that out. If you're not following me on Twitter, 225 00:12:22,360 --> 00:12:24,720 Speaker 1: you should. What are you even doing? You can find 226 00:12:24,720 --> 00:12:27,400 Speaker 1: me on Twitter at one Mark Moss, send me a message. 227 00:12:27,440 --> 00:12:28,600 Speaker 1: Let me know you're listening to me on the radio. 228 00:12:28,600 --> 00:12:30,560 Speaker 1: I'd love to hear it. But I tweeted it out 229 00:12:30,559 --> 00:12:31,920 Speaker 1: and I said, I think this is a much better way. 230 00:12:32,280 --> 00:12:34,240 Speaker 1: And the reason why I like this better is because 231 00:12:35,480 --> 00:12:39,240 Speaker 1: I'm a freedom maximist. I'm a freedom maximist. I believe 232 00:12:39,240 --> 00:12:42,600 Speaker 1: in freedom. I believe in letting everybody choose what's best, 233 00:12:42,679 --> 00:12:45,080 Speaker 1: what's right for them, and so I'm not really up 234 00:12:45,080 --> 00:12:48,199 Speaker 1: for forcing anybody to do anything. So we don't need 235 00:12:49,320 --> 00:12:54,480 Speaker 1: bitcoin to be legally made legal tender already right now, 236 00:12:54,520 --> 00:12:56,600 Speaker 1: anybody can accept bitcoin right now. My business I can 237 00:12:56,640 --> 00:12:58,559 Speaker 1: accept bitcoin if I want. If you have a business, 238 00:12:58,559 --> 00:13:00,400 Speaker 1: you could accept bitcoin if you want what it could 239 00:13:00,400 --> 00:13:03,439 Speaker 1: accept it. We don't need a law for that. Making 240 00:13:03,440 --> 00:13:06,200 Speaker 1: it legal tender forces people to now accept it, and 241 00:13:06,240 --> 00:13:08,400 Speaker 1: I'm not for that. I don't think that's the best 242 00:13:08,400 --> 00:13:10,240 Speaker 1: way to do it now. I do like what they're 243 00:13:10,240 --> 00:13:11,880 Speaker 1: doing in Panama, because they said, what we're doing is 244 00:13:11,920 --> 00:13:14,080 Speaker 1: we're taking away we're making it legal, We're taking away 245 00:13:14,120 --> 00:13:18,000 Speaker 1: the tax piece, which then allows people to start using 246 00:13:18,000 --> 00:13:19,880 Speaker 1: it more. And then of course, if the market wants it, 247 00:13:19,880 --> 00:13:23,080 Speaker 1: then the merchants will start accepting it. Right If more 248 00:13:23,120 --> 00:13:24,800 Speaker 1: and more people going to these merchants and say, hey, 249 00:13:24,800 --> 00:13:26,839 Speaker 1: I want to pay on bitcoin, then those merchants will 250 00:13:26,840 --> 00:13:29,679 Speaker 1: eventually accept that bitcoin. But they're not forcing it, and 251 00:13:29,679 --> 00:13:32,120 Speaker 1: so I think that's a better way to do it. However, 252 00:13:32,320 --> 00:13:35,079 Speaker 1: like I said, it's it looks like it's going to 253 00:13:35,120 --> 00:13:37,479 Speaker 1: go through. It's made it through three levels of Congress, 254 00:13:38,000 --> 00:13:42,319 Speaker 1: but it hasn't made it through all the way. And 255 00:13:43,800 --> 00:13:46,480 Speaker 1: but but that doesn't mean that it's not happening in 256 00:13:46,520 --> 00:13:49,000 Speaker 1: other countries. As a matter of fact, we saw this week, 257 00:13:49,600 --> 00:13:54,520 Speaker 1: we saw that a nation in Africa adopted bitcoin as 258 00:13:55,200 --> 00:13:59,320 Speaker 1: a legal tender. We can see Central Africa Republic becomes 259 00:13:59,320 --> 00:14:02,400 Speaker 1: the world's second country to adopt a bitcoin as its 260 00:14:02,480 --> 00:14:07,439 Speaker 1: official country. The Central African Republic has legally recognized the 261 00:14:07,520 --> 00:14:10,480 Speaker 1: use of cryptocurrency after the President approved a law adopted 262 00:14:10,480 --> 00:14:13,160 Speaker 1: by deputies last week that has also made bitcoin an 263 00:14:13,160 --> 00:14:19,080 Speaker 1: official currency alongside the West African CFA franc in the 264 00:14:19,160 --> 00:14:25,280 Speaker 1: African nation. That is really big news, really really big news, 265 00:14:25,280 --> 00:14:28,520 Speaker 1: for a couple of reasons that maybe aren't obvious right 266 00:14:28,560 --> 00:14:31,520 Speaker 1: off the bat. Now, part of the reason why is 267 00:14:31,560 --> 00:14:36,440 Speaker 1: because it says that made bitcoin an official currency alongside 268 00:14:36,480 --> 00:14:41,280 Speaker 1: the West African CFA franc in the African nation. Now 269 00:14:41,320 --> 00:14:44,480 Speaker 1: do you know what that means? Most likely you don't, 270 00:14:45,040 --> 00:14:47,640 Speaker 1: and that's okay, it's okay, But I'll explain to you 271 00:14:48,280 --> 00:14:50,600 Speaker 1: the sea. What is the CFA frank? Have you ever 272 00:14:50,640 --> 00:14:52,560 Speaker 1: heard of that? Well, have you ever heard of the frank? Well, 273 00:14:52,560 --> 00:14:56,160 Speaker 1: the frank used to be a currency that failed, like 274 00:14:56,200 --> 00:15:00,160 Speaker 1: all the other ones of France. Did you know the 275 00:15:00,200 --> 00:15:02,240 Speaker 1: France used to have its own money called the frank. 276 00:15:03,120 --> 00:15:05,200 Speaker 1: Did you know France doesn't have its own money anymore? 277 00:15:05,320 --> 00:15:09,720 Speaker 1: It now uses the Euro. That's right. But what happens 278 00:15:09,840 --> 00:15:12,840 Speaker 1: is you ever heard of colonialism? A lot of people 279 00:15:12,920 --> 00:15:17,200 Speaker 1: think that capitalism is bad because capitalism is colonialism. That's false. 280 00:15:17,440 --> 00:15:22,640 Speaker 1: Let me explain that capitalism is a system that one 281 00:15:22,640 --> 00:15:29,960 Speaker 1: protects private property rights. Two it's free and voluntary exchange. 282 00:15:31,320 --> 00:15:35,920 Speaker 1: Colonialism has neither of those attributes. Colonialism doesn't respect private 283 00:15:35,960 --> 00:15:39,120 Speaker 1: property rights because you have another nation basically taking over 284 00:15:39,160 --> 00:15:42,600 Speaker 1: a smaller nation and extracting their values. That's not recognizing 285 00:15:42,640 --> 00:15:46,200 Speaker 1: property rights. And two it's free. It's a free exchange, 286 00:15:46,360 --> 00:15:48,720 Speaker 1: free in volatary exchange. And so a colonialism doesn't have 287 00:15:48,800 --> 00:15:52,240 Speaker 1: that either. But what's happening in colonialism is you have 288 00:15:52,280 --> 00:15:55,120 Speaker 1: these rich nations through Europe going to smaller nations throughout 289 00:15:55,160 --> 00:15:58,520 Speaker 1: you know, the Islands and the Caribbean or throughout Africa 290 00:15:58,560 --> 00:16:01,040 Speaker 1: and colonizing them. Basically say and we now plant our 291 00:16:01,080 --> 00:16:03,440 Speaker 1: flag here, and now you're part of our big country, 292 00:16:03,800 --> 00:16:06,440 Speaker 1: and now we're going to bring democracy to and now 293 00:16:06,480 --> 00:16:09,640 Speaker 1: you're going to use our currency. And so they make 294 00:16:09,680 --> 00:16:13,080 Speaker 1: them use their currency, and then they just start extracting 295 00:16:13,240 --> 00:16:16,920 Speaker 1: all their wealth, basically taking their minerals, taking their gold, 296 00:16:17,080 --> 00:16:20,840 Speaker 1: taking their seashells, taking whatever they have from that country 297 00:16:21,000 --> 00:16:26,320 Speaker 1: in exchange for their fake, worthless Viat currency paper. And 298 00:16:26,360 --> 00:16:28,720 Speaker 1: so that happened. France did it, England did it, a 299 00:16:28,760 --> 00:16:30,280 Speaker 1: lot of in the United States did it. We've all 300 00:16:30,320 --> 00:16:36,000 Speaker 1: colonized countries. But in Africa. All these countries use the 301 00:16:36,120 --> 00:16:40,320 Speaker 1: CFA franc, so they're they're forced to use the franc, 302 00:16:40,400 --> 00:16:43,520 Speaker 1: which isn't even a currency anymore. France doesn't even use it. 303 00:16:44,360 --> 00:16:46,520 Speaker 1: They use the Euro. Now, it would be one thing 304 00:16:46,560 --> 00:16:49,000 Speaker 1: if these these colonies were forced, you know, we're able 305 00:16:49,000 --> 00:16:50,800 Speaker 1: to switch to move to the Euro. But no, they're 306 00:16:50,800 --> 00:16:53,000 Speaker 1: still using the franc. And the reason why that's so 307 00:16:53,160 --> 00:16:57,440 Speaker 1: bad is because while France can't control their own currency 308 00:16:57,520 --> 00:16:59,840 Speaker 1: in France, they can control these nations. And so what 309 00:17:00,000 --> 00:17:02,600 Speaker 1: they do is they on a regular basis they devalue 310 00:17:02,640 --> 00:17:05,119 Speaker 1: it and they just tell everybody in the in Africa up, 311 00:17:05,200 --> 00:17:07,800 Speaker 1: you know what, your money just it buys half as 312 00:17:07,840 --> 00:17:10,240 Speaker 1: much as it did before, just instantly, and just instantly, 313 00:17:10,240 --> 00:17:12,800 Speaker 1: people are lose half as much. You're listening to the 314 00:17:12,800 --> 00:17:15,440 Speaker 1: Mark Moas Show. I'm explaining this CFA frank and saying 315 00:17:15,440 --> 00:17:17,959 Speaker 1: how they've adopted bitcoin. But there's other big news. As 316 00:17:17,960 --> 00:17:19,679 Speaker 1: a matter of fact, one of the largest asset managers 317 00:17:19,720 --> 00:17:22,159 Speaker 1: in the world just adopted bitcoin. I'm gonna explain that 318 00:17:22,240 --> 00:17:24,359 Speaker 1: and more when I come back. You're listening to the 319 00:17:24,359 --> 00:17:26,600 Speaker 1: Mark Moas Show. Don't go away. I'll be right back, 320 00:17:26,960 --> 00:17:28,720 Speaker 1: all right, Welcome back. You are listening to the Mark 321 00:17:28,800 --> 00:17:32,399 Speaker 1: Moas Show, and we're talking about bitcoin, We're talking about cryptocurrencies. 322 00:17:32,440 --> 00:17:35,760 Speaker 1: We're talking about the bigger picture, which is the decentralized 323 00:17:35,800 --> 00:17:38,400 Speaker 1: revolution that the world is moving through, and we're talking 324 00:17:38,440 --> 00:17:41,200 Speaker 1: about it through the lens of looking at politics, finance, 325 00:17:41,320 --> 00:17:44,439 Speaker 1: and technology and how they're all converging and changing the 326 00:17:44,480 --> 00:17:46,320 Speaker 1: world as we speak now. Before the break, I was 327 00:17:46,359 --> 00:17:50,440 Speaker 1: specifically talking about how this West African Central African Republic 328 00:17:50,600 --> 00:17:54,159 Speaker 1: is the second country to now make bitcoin legal tender, 329 00:17:55,119 --> 00:17:58,119 Speaker 1: and I was explaining how it was really big news 330 00:17:58,200 --> 00:18:02,480 Speaker 1: because they made biquinn an official currency alongside the West 331 00:18:02,520 --> 00:18:04,840 Speaker 1: African CFA franc. And I was explaining what that CFA 332 00:18:04,920 --> 00:18:07,320 Speaker 1: franc was, and so basically it's, you know, the old 333 00:18:07,640 --> 00:18:11,400 Speaker 1: French money that they colonized Africa with and they made 334 00:18:11,400 --> 00:18:14,680 Speaker 1: Africa uses money. However, France doesn't even use that money, 335 00:18:14,800 --> 00:18:18,360 Speaker 1: or now France uses the Euro. But they're still forcing 336 00:18:18,359 --> 00:18:19,920 Speaker 1: these people to use their money, and of course they 337 00:18:19,960 --> 00:18:22,400 Speaker 1: do that because then they can devalue it on them. 338 00:18:22,720 --> 00:18:24,720 Speaker 1: They can say, oh, now the money's worth half as much, 339 00:18:24,800 --> 00:18:27,280 Speaker 1: and now we can buy twice as much of your 340 00:18:27,320 --> 00:18:30,440 Speaker 1: goods and services from you. See how that works. France 341 00:18:30,560 --> 00:18:32,959 Speaker 1: is like, oh, we need more raw materials, more commodities 342 00:18:33,160 --> 00:18:34,919 Speaker 1: for our economies. What we'll do is we'll just devalue 343 00:18:34,960 --> 00:18:36,600 Speaker 1: the currency. So now we can just go buy twice 344 00:18:36,600 --> 00:18:38,720 Speaker 1: as much as we as we did before. But that 345 00:18:38,760 --> 00:18:40,840 Speaker 1: means all the people in that African nation lose half 346 00:18:40,840 --> 00:18:44,760 Speaker 1: their money, lose half, no control on their own just 347 00:18:44,760 --> 00:18:46,880 Speaker 1: because France as I do that to them. It's an 348 00:18:46,880 --> 00:18:49,840 Speaker 1: insane system that should not be allowed to stand. It's 349 00:18:49,880 --> 00:18:52,600 Speaker 1: it's insane if people even knew how how it worked. 350 00:18:53,040 --> 00:18:56,240 Speaker 1: And so I'm outraged by it. You should be outraged 351 00:18:56,240 --> 00:18:58,120 Speaker 1: by it. You should look into it more. But what 352 00:18:58,160 --> 00:19:00,640 Speaker 1: I'm what I like is that now they said, hey, 353 00:19:00,720 --> 00:19:03,680 Speaker 1: we're going to now use bitcoin alongside the CFA franc. 354 00:19:03,680 --> 00:19:05,920 Speaker 1: And so what could happen now is if all these 355 00:19:05,960 --> 00:19:08,880 Speaker 1: people decide to hold their wealth in the bitcoin instead 356 00:19:08,920 --> 00:19:11,679 Speaker 1: of the CFA franc, then next time France comes and says, oh, 357 00:19:11,680 --> 00:19:13,840 Speaker 1: we're going to devalue your currency so we can buy 358 00:19:13,880 --> 00:19:16,160 Speaker 1: twice as much goods and services from you, it won't 359 00:19:16,200 --> 00:19:20,560 Speaker 1: matter because they don't have their wealth in that they'll 360 00:19:20,600 --> 00:19:25,000 Speaker 1: be insulated. Now that may seem like a crazy, insane 361 00:19:25,040 --> 00:19:27,240 Speaker 1: system and it is and it should be changed immediately. 362 00:19:28,040 --> 00:19:29,880 Speaker 1: But if you're listening to this in the United States, 363 00:19:29,920 --> 00:19:32,560 Speaker 1: which I'm sure you are at this point, your government 364 00:19:32,560 --> 00:19:36,359 Speaker 1: just did the same thing. You just lost thirty percent 365 00:19:36,359 --> 00:19:39,080 Speaker 1: of your purchasing power in the last twenty four months. 366 00:19:41,920 --> 00:19:45,000 Speaker 1: You should be outraged at that. And guess what you 367 00:19:45,040 --> 00:19:47,000 Speaker 1: can do the same thing that they can do. Now. 368 00:19:47,080 --> 00:19:49,160 Speaker 1: You could just hold your wealth in bitcoin, so you're 369 00:19:49,160 --> 00:19:52,760 Speaker 1: not affected by it. Pretty interesting, right. It says here 370 00:19:52,800 --> 00:19:55,560 Speaker 1: that the President validated the law Wednesday, saying that the 371 00:19:55,560 --> 00:19:59,080 Speaker 1: exchange rate between cryptocurrencies and the FAA, which is the 372 00:19:59,160 --> 00:20:04,560 Speaker 1: CFA franc is freely determined by the market. Tax contributions 373 00:20:04,600 --> 00:20:06,919 Speaker 1: can also be paid in cryptocurrencies through platforms recognized by 374 00:20:06,960 --> 00:20:10,680 Speaker 1: the government, it said. It said the country is now 375 00:20:10,880 --> 00:20:13,119 Speaker 1: the quote first country in Africa to adopt bitcoin and 376 00:20:13,200 --> 00:20:16,280 Speaker 1: the reference currency. So what would be really cool is, 377 00:20:16,359 --> 00:20:18,760 Speaker 1: you know, very quickly these other African nations that are 378 00:20:18,840 --> 00:20:20,960 Speaker 1: using the CFA frank go, wait a minute, that's pretty 379 00:20:21,000 --> 00:20:22,520 Speaker 1: dang cool. I mean, we don't just have to have 380 00:20:22,520 --> 00:20:24,800 Speaker 1: our money just stolen from us that will because of France. 381 00:20:25,040 --> 00:20:26,879 Speaker 1: Uh yeah, we want to do that too, And I 382 00:20:26,880 --> 00:20:29,560 Speaker 1: think that's what's going to happen. So the Central African 383 00:20:29,560 --> 00:20:32,680 Speaker 1: Republic is the world's poorest countries, Corny, United Nations has 384 00:20:32,720 --> 00:20:36,080 Speaker 1: been a state of insecurity and increasing violence for nine years. 385 00:20:36,560 --> 00:20:38,119 Speaker 1: What do you think happens to a country when you 386 00:20:38,160 --> 00:20:41,480 Speaker 1: continually still their wealth and you make them broke. Yeah, 387 00:20:41,720 --> 00:20:46,080 Speaker 1: it leads to insecurity and increasing violence. It's not rocket science. 388 00:20:46,480 --> 00:20:49,240 Speaker 1: This goes back to on the last section I was talking, 389 00:20:49,520 --> 00:20:52,159 Speaker 1: I played a quote from the IMF head Christina and Georgeilia. 390 00:20:52,359 --> 00:20:55,679 Speaker 1: She said, we didn't take into consideration the effects of 391 00:20:55,680 --> 00:20:59,200 Speaker 1: our our actions. We knew printing money would cause this. Yeah, 392 00:20:59,400 --> 00:21:03,480 Speaker 1: like in Africa, state of insecurity, increasing violence, that's what happens. 393 00:21:04,440 --> 00:21:06,320 Speaker 1: It says the government controls the capital, but much of 394 00:21:06,320 --> 00:21:10,320 Speaker 1: the country is controlled by armed groups. And so even 395 00:21:10,320 --> 00:21:12,919 Speaker 1: though it's one of the poorest countries and so it 396 00:21:12,960 --> 00:21:15,320 Speaker 1: won't move the needle that much on buying the amount 397 00:21:15,359 --> 00:21:18,480 Speaker 1: of bitcoin. It's a step in the right direction, that's 398 00:21:18,760 --> 00:21:21,080 Speaker 1: what I like about it. And so we got Panama 399 00:21:21,119 --> 00:21:24,520 Speaker 1: coming on board, we got Africa already on board, and 400 00:21:24,520 --> 00:21:28,040 Speaker 1: so it's happening really quick. We also have Texas, the 401 00:21:28,080 --> 00:21:31,200 Speaker 1: state of Texas as a boss stay of Texas don't 402 00:21:31,200 --> 00:21:33,639 Speaker 1: care stay of Texas, you know, don't mess with Texas. 403 00:21:33,640 --> 00:21:36,480 Speaker 1: They're gonna they're gonna build their own electric electric grid. 404 00:21:36,720 --> 00:21:38,800 Speaker 1: They're gonna have their own money, and they're gonna do 405 00:21:38,840 --> 00:21:41,600 Speaker 1: things their own way. I like that. And they have 406 00:21:41,720 --> 00:21:44,520 Speaker 1: become the biggest beneficiary. They become the biggest the biggest 407 00:21:44,520 --> 00:21:49,240 Speaker 1: bitcoin mining center in the world. And Fort Worth, Texas, 408 00:21:49,720 --> 00:21:52,640 Speaker 1: which is one of the fastest growing cities in the world, 409 00:21:52,720 --> 00:21:56,640 Speaker 1: has now decided to take it a step further. Fort Worth, 410 00:21:56,640 --> 00:21:59,240 Speaker 1: Texas is now the first city government in the United 411 00:21:59,280 --> 00:22:04,720 Speaker 1: States to mine bitcoin. They're going to do it on 412 00:22:04,760 --> 00:22:07,440 Speaker 1: their own and an almost poetic devotion to the initiative. 413 00:22:07,440 --> 00:22:10,439 Speaker 1: Mayor Mattie Parker oversaw the construction of a small mining 414 00:22:10,480 --> 00:22:14,760 Speaker 1: farm in city Hall. So it's small, it's not a lot. 415 00:22:14,800 --> 00:22:18,879 Speaker 1: They only bought. They got three rigs, three bitmin bit 416 00:22:18,960 --> 00:22:21,320 Speaker 1: main an minor s nine rigs. But they're gonna run 417 00:22:21,920 --> 00:22:23,560 Speaker 1: twenty four seven and it's gonna make a little bit 418 00:22:23,600 --> 00:22:25,479 Speaker 1: of a little bit of money for him. But it's 419 00:22:25,520 --> 00:22:28,480 Speaker 1: not about the amount of money that they're doing. It's 420 00:22:28,520 --> 00:22:32,400 Speaker 1: about trying to prove the model right. It says here 421 00:22:32,440 --> 00:22:36,600 Speaker 1: that they Fort Worth wants to start small. According to 422 00:22:36,640 --> 00:22:38,520 Speaker 1: the mayor, they want to start small. There's a lot 423 00:22:38,560 --> 00:22:40,439 Speaker 1: of bureaucratic red tape. They had to go through a 424 00:22:40,440 --> 00:22:42,160 Speaker 1: lot of risk of trying to do something like this, 425 00:22:42,400 --> 00:22:44,080 Speaker 1: and so they thought they would just try and start 426 00:22:44,160 --> 00:22:48,440 Speaker 1: small and then see what happens. They're going to mine bitcoin. 427 00:22:48,480 --> 00:22:51,680 Speaker 1: They added bitcoin to the city's balance sheet. So the city, 428 00:22:51,880 --> 00:22:55,720 Speaker 1: like you probably hopefully holds savings, that's their balance sheet, 429 00:22:55,760 --> 00:23:00,679 Speaker 1: they're gonna hold bitcoin as well. Parker is the city's 430 00:23:00,760 --> 00:23:04,920 Speaker 1: first ever millennial mayor. See what happens when you get 431 00:23:05,359 --> 00:23:07,720 Speaker 1: eighty year old people out of office. Now, nothing against 432 00:23:07,720 --> 00:23:10,880 Speaker 1: old people. I mean I'm getting old myself. Nothing against 433 00:23:10,920 --> 00:23:12,840 Speaker 1: old people, and I love I love old people. But 434 00:23:13,680 --> 00:23:16,520 Speaker 1: the problem is when you have I think the average 435 00:23:16,560 --> 00:23:19,800 Speaker 1: age of the Democratic Party is like seventy two. I 436 00:23:19,880 --> 00:23:22,200 Speaker 1: want to say, it's insane. You know, we have a 437 00:23:22,320 --> 00:23:26,160 Speaker 1: Nancy Pelosi. I think it's like eighty two. Don't quote 438 00:23:26,160 --> 00:23:27,959 Speaker 1: me on this. I think it was like Diane Feinstein, 439 00:23:28,000 --> 00:23:32,440 Speaker 1: it's like eighty nine. Biden as he's seventy eight or 440 00:23:32,520 --> 00:23:39,159 Speaker 1: seventy nine. And even if they're sharp, which none of 441 00:23:39,200 --> 00:23:42,080 Speaker 1: those three I mentioned are, they don't even know their names. 442 00:23:42,080 --> 00:23:45,800 Speaker 1: Biden's on stage shaking hands with the air. I mean, 443 00:23:45,800 --> 00:23:49,480 Speaker 1: it's just it's it's elderly. It's elder abuse, is what 444 00:23:49,520 --> 00:23:51,600 Speaker 1: it is. Really, haven't Biden. Oh, that's a whole other subject. 445 00:23:52,359 --> 00:23:56,040 Speaker 1: But even if they're in their sound mind, like Donald Trump, 446 00:23:56,080 --> 00:23:58,280 Speaker 1: he's older, but he you know, he could talk for hours. 447 00:23:58,280 --> 00:24:03,800 Speaker 1: He's sharp. They don't get technology, they don't get the 448 00:24:03,840 --> 00:24:08,320 Speaker 1: way the world has been changing, and they that lack 449 00:24:08,400 --> 00:24:12,439 Speaker 1: of information causes them to see the world in a 450 00:24:12,480 --> 00:24:16,760 Speaker 1: different way and make policies. And they're passing laws that 451 00:24:16,840 --> 00:24:22,680 Speaker 1: are restricting groundbreaking, life changing, world shaping technologies that are 452 00:24:22,680 --> 00:24:25,440 Speaker 1: going to affect my kids and grandkids. And so here 453 00:24:25,480 --> 00:24:27,600 Speaker 1: we have the opposite of that. We have a I 454 00:24:27,640 --> 00:24:30,320 Speaker 1: think the Republican Party. I want to say the average 455 00:24:30,359 --> 00:24:33,320 Speaker 1: ages like forty two versus like seventy two in the 456 00:24:33,400 --> 00:24:37,040 Speaker 1: Democratic Party. But anyway back to here Parker. So she's 457 00:24:37,080 --> 00:24:40,399 Speaker 1: the first ever city's first ever millennial mayor. And so 458 00:24:40,440 --> 00:24:42,280 Speaker 1: you have a millennial mayor who comes in and she 459 00:24:42,400 --> 00:24:44,840 Speaker 1: gets that the world is changing. She gets and I 460 00:24:44,880 --> 00:24:47,399 Speaker 1: don't know whether she's a Republican or a Democrat doesn't 461 00:24:47,440 --> 00:24:49,520 Speaker 1: say that here, And I don't really care it doesn't 462 00:24:49,560 --> 00:24:52,000 Speaker 1: really matter to me. I don't I don't like to 463 00:24:52,000 --> 00:24:54,280 Speaker 1: put I don't like to align myself with either of 464 00:24:54,320 --> 00:25:00,280 Speaker 1: the political parties left or right, red or blue, Republican Democrat. 465 00:25:00,400 --> 00:25:03,359 Speaker 1: That's all the same to me. I believe it's I 466 00:25:03,400 --> 00:25:06,640 Speaker 1: believe that's all kind of a scam. The only difference 467 00:25:06,680 --> 00:25:10,960 Speaker 1: is the individual and the collectivist. All of politics, in 468 00:25:10,960 --> 00:25:13,480 Speaker 1: my opinion, are collectivists. They're all trying to get mob 469 00:25:13,560 --> 00:25:15,560 Speaker 1: rule kind of a thing going. I want to recognize 470 00:25:15,600 --> 00:25:19,160 Speaker 1: the rights of the individual me. So anyway, I don't 471 00:25:19,200 --> 00:25:21,600 Speaker 1: care what she is, but she's the first ever Minela mayor, 472 00:25:21,640 --> 00:25:23,639 Speaker 1: and you can see how she makes these types of 473 00:25:23,680 --> 00:25:27,720 Speaker 1: decisions that could be massive for the impact that it 474 00:25:27,760 --> 00:25:30,520 Speaker 1: can have for the state of texts, for the city, 475 00:25:30,600 --> 00:25:32,919 Speaker 1: for the state, and even for bitcoin. She says, we 476 00:25:32,960 --> 00:25:35,840 Speaker 1: want to change that conversation. We believe that tech innovation, 477 00:25:36,160 --> 00:25:39,760 Speaker 1: including cryptocurrency, is the way we're going to do that. 478 00:25:40,400 --> 00:25:43,040 Speaker 1: So she says she believes they want to change the conversation. 479 00:25:43,119 --> 00:25:46,760 Speaker 1: She believes in it. He said there was a lot 480 00:25:46,760 --> 00:25:48,880 Speaker 1: of policy that had to be jumped through. They wanted 481 00:25:48,880 --> 00:25:51,679 Speaker 1: to make it happen. The Texas shoutouts to the Texas 482 00:25:51,720 --> 00:25:55,240 Speaker 1: Blockchain Council. I've been talking to those guys quite a bit. 483 00:25:55,480 --> 00:25:57,640 Speaker 1: They've done a lot of good work. They really push 484 00:25:57,720 --> 00:25:59,680 Speaker 1: this through to make that happen over there. So shout 485 00:25:59,720 --> 00:26:03,680 Speaker 1: out the Texas Blockchain Council for helping get that done. 486 00:26:03,680 --> 00:26:06,719 Speaker 1: They donated three of these mining rigs to help this 487 00:26:06,760 --> 00:26:09,560 Speaker 1: get going. But she said that basically the idea is 488 00:26:09,600 --> 00:26:11,320 Speaker 1: just to break in, kind of get your foot in 489 00:26:11,359 --> 00:26:14,280 Speaker 1: the door a little bit. She said, we're the fastest 490 00:26:14,320 --> 00:26:18,159 Speaker 1: growing city in the country. There's so much excitement about it. 491 00:26:18,200 --> 00:26:21,280 Speaker 1: We want to keep that energy going and push ourselves differently, 492 00:26:21,880 --> 00:26:23,760 Speaker 1: and she thinks this is the way to do it. Said, 493 00:26:23,760 --> 00:26:26,920 Speaker 1: after six months, we'll reassess and then we'll decide whether 494 00:26:26,920 --> 00:26:29,639 Speaker 1: it's to sink in real costs into building out the mind. 495 00:26:30,280 --> 00:26:31,879 Speaker 1: I love that, you know, let's just test it out 496 00:26:31,880 --> 00:26:33,960 Speaker 1: a little bit and see how it goes. And like 497 00:26:34,000 --> 00:26:36,760 Speaker 1: I said, shout out to Texas Blockchain Council President Lee 498 00:26:36,800 --> 00:26:40,800 Speaker 1: Bratcher working with these bitcoin miners across the state really 499 00:26:40,840 --> 00:26:43,880 Speaker 1: doing a good job to make Texas the capital there. 500 00:26:44,200 --> 00:26:45,760 Speaker 1: I mean, listening to the Mark Mos Show, we're talking 501 00:26:45,760 --> 00:26:48,560 Speaker 1: about some of the biggest news breaking in the bitcoin 502 00:26:48,680 --> 00:26:52,119 Speaker 1: and decentralized space going today. I got a lot more 503 00:26:52,240 --> 00:26:55,000 Speaker 1: to cover when the intersection of politics, finance and technology 504 00:26:55,040 --> 00:26:57,320 Speaker 1: to show you how this world is changing when I 505 00:26:57,359 --> 00:27:00,440 Speaker 1: come back in a second. So don't go away, We're back, 506 00:27:00,800 --> 00:27:02,960 Speaker 1: all right, Welcome back. You are listening to the Mark 507 00:27:03,080 --> 00:27:06,480 Speaker 1: Moss Show. We're talking about bitcoin, We're talking about cryptocurrencies, 508 00:27:06,480 --> 00:27:09,400 Speaker 1: We're talking about the decentralized revolution, and I'm bringing you 509 00:27:09,600 --> 00:27:13,280 Speaker 1: so the latest breaking news that's been happening around the world, 510 00:27:13,359 --> 00:27:15,879 Speaker 1: showing you the play by play of how this is 511 00:27:15,920 --> 00:27:19,200 Speaker 1: all happening. Now, you know, we'll talk about the political stories, 512 00:27:19,240 --> 00:27:21,359 Speaker 1: we'll talk about the financial stories, we'll talk about the 513 00:27:21,359 --> 00:27:26,159 Speaker 1: technology stories because they all play in together and it 514 00:27:26,160 --> 00:27:28,040 Speaker 1: just depends, you know, different things and moving the markets 515 00:27:28,040 --> 00:27:29,760 Speaker 1: at different times, and there's different things to talk about. 516 00:27:30,200 --> 00:27:33,200 Speaker 1: This week, we've been heavy, heavy, heavy in what's been 517 00:27:33,240 --> 00:27:36,600 Speaker 1: going on, specifically with bitcoin and cryptocurrencies, because man, there 518 00:27:36,680 --> 00:27:38,960 Speaker 1: was a lot. We've covered a lot. We've talked about 519 00:27:39,000 --> 00:27:41,840 Speaker 1: how we've now we're on the race. Well, we've seen 520 00:27:41,920 --> 00:27:44,920 Speaker 1: the second country now make bitcoin legal tender in Africa, 521 00:27:45,280 --> 00:27:47,679 Speaker 1: so Elsava will being the first one. Now we've got 522 00:27:47,720 --> 00:27:50,080 Speaker 1: Africa coming on board. We have two other countries that 523 00:27:50,119 --> 00:27:53,439 Speaker 1: are fighting to put it forward. Next Panama has a 524 00:27:53,440 --> 00:27:55,720 Speaker 1: bill that's on the President's desk ready to be signed. 525 00:27:55,760 --> 00:27:57,560 Speaker 1: Panama could be the third. Now, one thing I didn't 526 00:27:57,560 --> 00:28:00,680 Speaker 1: say about Panama earlier is that Panama is one of 527 00:28:00,720 --> 00:28:05,320 Speaker 1: the top banking centers of the entire world. Sorry, I 528 00:28:05,320 --> 00:28:06,840 Speaker 1: didn't look it up ahead of time. I think it's 529 00:28:07,280 --> 00:28:10,040 Speaker 1: probably two or three, number two or three, I'm guessing 530 00:28:10,160 --> 00:28:13,760 Speaker 1: somewhere in that range. Definitely top five. And it also, 531 00:28:13,840 --> 00:28:16,320 Speaker 1: you know, because of the Panama Canal, it moves an 532 00:28:16,520 --> 00:28:20,600 Speaker 1: enormous amount of product gross domestic product through the Panama Canal, 533 00:28:21,240 --> 00:28:23,520 Speaker 1: and so you know, the ships don't want to sell 534 00:28:23,560 --> 00:28:26,000 Speaker 1: all the way around Cape Horn of South America, so 535 00:28:26,040 --> 00:28:28,160 Speaker 1: they cut through the Panama Canal. So all the goods 536 00:28:28,160 --> 00:28:30,240 Speaker 1: that are coming, you know, to the US that want 537 00:28:30,240 --> 00:28:32,160 Speaker 1: to get over to the East coast to Texas over 538 00:28:32,200 --> 00:28:34,600 Speaker 1: to the East coast, or from the East coast over 539 00:28:34,600 --> 00:28:36,320 Speaker 1: to the West coast, they all get through the Panama Canal. 540 00:28:36,359 --> 00:28:38,560 Speaker 1: So there's an enormous amount of money moving through there, 541 00:28:38,560 --> 00:28:40,320 Speaker 1: which is why it's got one of the best banking 542 00:28:40,360 --> 00:28:42,640 Speaker 1: centers in the world. So when we talk about you know, 543 00:28:43,000 --> 00:28:46,320 Speaker 1: this little country in Africa, and that's just a little 544 00:28:46,400 --> 00:28:48,800 Speaker 1: drop in the bucket. It's a spec right. What I 545 00:28:48,840 --> 00:28:51,040 Speaker 1: like about it though, is that they're they're a colonized 546 00:28:51,080 --> 00:28:55,480 Speaker 1: nation that's used in the CFA, the franc which is 547 00:28:55,520 --> 00:28:57,920 Speaker 1: the currency that's not even around anymore. And what I 548 00:28:57,960 --> 00:29:00,160 Speaker 1: like is that if they do it, then we'll see, well, one, 549 00:29:00,200 --> 00:29:02,280 Speaker 1: it's a lifeline to them, and so even though it's 550 00:29:02,280 --> 00:29:04,800 Speaker 1: a small country, it can really make an impact on 551 00:29:04,840 --> 00:29:07,400 Speaker 1: those lives. And in my opinion, every life counts. If 552 00:29:07,440 --> 00:29:09,200 Speaker 1: we can save one life, that makes the difference. And 553 00:29:09,240 --> 00:29:11,800 Speaker 1: so even to the small country, it makes the impact 554 00:29:11,800 --> 00:29:13,880 Speaker 1: to them, but it could lead to other countries there 555 00:29:13,920 --> 00:29:16,280 Speaker 1: they are also colonized and being forced to use someone 556 00:29:16,280 --> 00:29:18,920 Speaker 1: else's currency. It leads the door to them moving into it, 557 00:29:18,920 --> 00:29:21,920 Speaker 1: which I like. But Panama is a different story. Panama 558 00:29:22,080 --> 00:29:23,520 Speaker 1: is massive, right, Like I said, they're one of the 559 00:29:23,520 --> 00:29:25,760 Speaker 1: top banking centers in the world, and so that builds 560 00:29:25,840 --> 00:29:29,320 Speaker 1: on the president's desk, and that looks like you go through, 561 00:29:29,360 --> 00:29:31,640 Speaker 1: it's already made through three rounds of congress. And then 562 00:29:31,680 --> 00:29:34,200 Speaker 1: we talked about fort Worth mining bitcoin, big big, big 563 00:29:34,240 --> 00:29:40,320 Speaker 1: big deal mining bitcoin because Texas has is one of 564 00:29:40,360 --> 00:29:43,920 Speaker 1: the biggest economies in the country. It's become the bitcoin 565 00:29:43,960 --> 00:29:46,560 Speaker 1: mining center of the world. And Fort Worth is one 566 00:29:46,560 --> 00:29:48,640 Speaker 1: of the fastest growing cities in Texas. So that's a 567 00:29:48,640 --> 00:29:53,480 Speaker 1: pretty big deal. Another big deal that happened is, uh Fidelity. 568 00:29:53,520 --> 00:29:55,960 Speaker 1: Have you ever heard of that company? Fidelity? You probably 569 00:29:55,960 --> 00:29:59,520 Speaker 1: should have because they're like the largest asset manager out there. 570 00:29:59,640 --> 00:30:02,360 Speaker 1: You know, they run retirement accounts, four oh one k's, 571 00:30:02,560 --> 00:30:04,840 Speaker 1: you know, investments whatever. Well, a lot of people don't 572 00:30:04,840 --> 00:30:06,640 Speaker 1: know though it has. Actually Fidelity has been involved with 573 00:30:06,640 --> 00:30:11,400 Speaker 1: bitcoin for a long time. I think, I want to 574 00:30:11,440 --> 00:30:16,440 Speaker 1: say maybe twenty sixteen. Fidelity has been involved and they 575 00:30:16,800 --> 00:30:19,280 Speaker 1: started mining bitcoin very early. They started up their digital 576 00:30:19,320 --> 00:30:22,640 Speaker 1: asset services very early, so they're actually one of the pioneers. 577 00:30:23,280 --> 00:30:26,840 Speaker 1: But they announced this week that they're offering their four 578 00:30:26,920 --> 00:30:32,640 Speaker 1: oh one K investors access to bitcoin. That's big news. 579 00:30:32,800 --> 00:30:34,240 Speaker 1: How big of news is it, Well, let me break 580 00:30:34,240 --> 00:30:38,480 Speaker 1: it down. They are the first retirement plan to do so, 581 00:30:39,720 --> 00:30:45,200 Speaker 1: and they're not small. They're the nation's largest retirement plan provider, 582 00:30:45,920 --> 00:30:50,840 Speaker 1: the largest nation's largest and Fidelities decision could make bitcoin 583 00:30:50,880 --> 00:30:54,640 Speaker 1: and cryptocurrencies even more popular in mainstream than they already are. 584 00:30:54,720 --> 00:30:58,160 Speaker 1: Which of course they will, and it is a massive move. 585 00:30:58,240 --> 00:31:02,000 Speaker 1: The crypto offering will be available well for twenty three 586 00:31:02,040 --> 00:31:05,480 Speaker 1: thousand different employers, twenty three thousand employers that use Fidelity 587 00:31:05,480 --> 00:31:09,040 Speaker 1: to administer their retirement accounts by mid year twenty twenty two. 588 00:31:09,360 --> 00:31:12,560 Speaker 1: So that's in the next two to three months. Potentially, 589 00:31:12,560 --> 00:31:15,200 Speaker 1: maybe in the next ninety days, we'll see that happening. 590 00:31:17,320 --> 00:31:21,480 Speaker 1: Drum roll. Let me give you the number here, with 591 00:31:21,720 --> 00:31:26,840 Speaker 1: eleven point three trillion, eleven point three trillion dollars in 592 00:31:26,920 --> 00:31:30,600 Speaker 1: assets under their administration. So let's just think about that 593 00:31:30,640 --> 00:31:34,400 Speaker 1: for a second. So the entire bitcoin market cap right now, 594 00:31:35,120 --> 00:31:37,160 Speaker 1: I'm guessing off top of my head is about eight 595 00:31:37,240 --> 00:31:40,480 Speaker 1: hundred billion. Let me look it up exactly. Yep, seven 596 00:31:40,520 --> 00:31:42,960 Speaker 1: hundred and fifty six So actually less seven hundred and 597 00:31:42,960 --> 00:31:46,200 Speaker 1: fifty six billion dollars three quarters three quarters of a trillion, 598 00:31:48,480 --> 00:31:55,040 Speaker 1: and Fidelity manages eleven point three trillion. So let's say 599 00:31:55,080 --> 00:31:59,440 Speaker 1: that ten percent of that ten percent of that where 600 00:31:59,440 --> 00:32:02,400 Speaker 1: to come over. That's a that's that's one over one 601 00:32:02,920 --> 00:32:06,800 Speaker 1: trillion dollars one point one trillion. I could almost that 602 00:32:07,360 --> 00:32:12,560 Speaker 1: could I mean, I don't even know that could it 603 00:32:12,640 --> 00:32:15,640 Speaker 1: doubles the amount the value of a bitcoin. But that's 604 00:32:15,680 --> 00:32:17,680 Speaker 1: not how it works, right, So the market cap is 605 00:32:17,720 --> 00:32:22,000 Speaker 1: the valuation. That doesn't mean that's money in. The valuation 606 00:32:22,080 --> 00:32:26,920 Speaker 1: is different. So for example, let's use that easy explanation 607 00:32:26,960 --> 00:32:31,040 Speaker 1: of this. So let's say that let's say that there's 608 00:32:31,120 --> 00:32:33,160 Speaker 1: five four of us, and we all owned a house, 609 00:32:33,200 --> 00:32:35,360 Speaker 1: and we had we each had our house for sale 610 00:32:35,400 --> 00:32:38,080 Speaker 1: for one hundred thousand dollars. But then I needed I 611 00:32:38,160 --> 00:32:40,440 Speaker 1: had I had to I had to have to have 612 00:32:40,480 --> 00:32:42,240 Speaker 1: to sell my house for some reason, I'm forced to 613 00:32:42,240 --> 00:32:43,880 Speaker 1: sell it, have to move, I have a divorce, something 614 00:32:43,920 --> 00:32:46,280 Speaker 1: like that. So I gotta sell my house fast, so 615 00:32:46,320 --> 00:32:48,800 Speaker 1: I'm gonna drop it to seventy thousand dollars. Well, now 616 00:32:48,880 --> 00:32:51,320 Speaker 1: my household for seventy thousand dollars. That appraisal comes in, 617 00:32:51,360 --> 00:32:54,520 Speaker 1: and now all the other houses valuation drops to about, 618 00:32:54,600 --> 00:32:57,360 Speaker 1: you know, seventy eighty thousand dollars as well. That doesn't 619 00:32:57,400 --> 00:33:00,280 Speaker 1: mean that all that money got sucked out like someone 620 00:33:00,360 --> 00:33:03,400 Speaker 1: withdrew that money. That just means that they're just worth 621 00:33:03,440 --> 00:33:05,560 Speaker 1: less now because someone sold for less. Likewise, to be 622 00:33:05,600 --> 00:33:07,640 Speaker 1: the opposite, let's say that I sell my house for 623 00:33:07,680 --> 00:33:10,360 Speaker 1: two hundred thousand, Well, then it pushes the valuation of 624 00:33:10,360 --> 00:33:12,560 Speaker 1: all the other homes up doesn't mean money came in, 625 00:33:13,040 --> 00:33:14,800 Speaker 1: it just means the valuation went up. And so that's 626 00:33:14,880 --> 00:33:17,080 Speaker 1: kind of the way the market caps of all stocks, 627 00:33:17,080 --> 00:33:21,440 Speaker 1: So whether it's Apple or Tesla or Bitcoin works. So 628 00:33:21,480 --> 00:33:24,120 Speaker 1: if we were to get a trillion dollars to actually 629 00:33:24,160 --> 00:33:28,240 Speaker 1: come in to the to bitcoin, the market cap or 630 00:33:28,280 --> 00:33:32,400 Speaker 1: the valuation could go up, you know, many times, four times, 631 00:33:32,480 --> 00:33:36,880 Speaker 1: five times, ten times higher than that. So when you 632 00:33:36,920 --> 00:33:43,160 Speaker 1: see a number like that, it's it's exponential because it's 633 00:33:43,200 --> 00:33:46,760 Speaker 1: supply and demand. If you don't have that much supply, 634 00:33:46,840 --> 00:33:48,280 Speaker 1: but you have a lot of demand, the price goes up. 635 00:33:48,280 --> 00:33:51,040 Speaker 1: I gave this example earlier where if there was one 636 00:33:51,080 --> 00:33:53,680 Speaker 1: house for sale and there was ten people trying to 637 00:33:53,760 --> 00:33:55,520 Speaker 1: buy the house, the price of the house would go up. 638 00:33:56,360 --> 00:33:58,320 Speaker 1: And so there's not very much bitcoin for sales. A 639 00:33:58,360 --> 00:34:00,960 Speaker 1: matter of fact, there's almost no bitcoin for and so 640 00:34:01,120 --> 00:34:04,400 Speaker 1: if we had a big catalyst like this, it could 641 00:34:04,440 --> 00:34:07,400 Speaker 1: push the price up like crazy. And that's what could 642 00:34:07,440 --> 00:34:11,280 Speaker 1: potentially could happen. Fidelity is the nation's largest retirement plan providers. 643 00:34:11,320 --> 00:34:14,560 Speaker 1: Decision could make crypto even more popular, and Mainstream has 644 00:34:14,560 --> 00:34:16,720 Speaker 1: said quote there is a growing interest from plan sponsors 645 00:34:16,760 --> 00:34:19,160 Speaker 1: for vehicles that an able to provide their employees access 646 00:34:19,160 --> 00:34:24,120 Speaker 1: to digital assets and defined contribution plans. So they're saying 647 00:34:24,160 --> 00:34:27,360 Speaker 1: that there's massive demand for this. People want it, and 648 00:34:27,440 --> 00:34:30,200 Speaker 1: of course they do. They're witnessing, you know, some of 649 00:34:30,200 --> 00:34:32,520 Speaker 1: the greatest returns they've ever witnessed in their life on 650 00:34:32,520 --> 00:34:35,480 Speaker 1: this new asset class that's been taking off, and they've 651 00:34:35,480 --> 00:34:38,239 Speaker 1: been prevented from taking part of it, and of course 652 00:34:38,280 --> 00:34:40,640 Speaker 1: they want to get into it, and so they are. 653 00:34:41,480 --> 00:34:44,080 Speaker 1: They though the market has spoken, they've demanded it, and 654 00:34:44,160 --> 00:34:49,760 Speaker 1: here they are, says Cloud and Intelligence for micro Strategy 655 00:34:49,760 --> 00:34:51,600 Speaker 1: will be the first employer to offer bitcoin and the 656 00:34:51,680 --> 00:34:54,560 Speaker 1: retirement plan. Of course, I've talked about micro Strategy many times. 657 00:34:54,600 --> 00:34:58,000 Speaker 1: Micro Strategy is headed up by the CEO, Michael Sailor. 658 00:34:58,120 --> 00:35:03,640 Speaker 1: He's the longest lasting CEO a tech company, billionaire. He's 659 00:35:03,680 --> 00:35:06,120 Speaker 1: one of the biggest proponents of bitcoin. If you've listened 660 00:35:06,120 --> 00:35:08,560 Speaker 1: to anything he said, he's amazingly smart, and if you haven't, 661 00:35:08,600 --> 00:35:10,839 Speaker 1: then you definitely should. You could just look him up 662 00:35:10,840 --> 00:35:14,000 Speaker 1: on YouTube or something. Michael Saylor for micro Strategy. I've 663 00:35:14,000 --> 00:35:15,680 Speaker 1: had the pleasure of going to his house for a 664 00:35:15,680 --> 00:35:22,080 Speaker 1: barbecue twice now. So that's pretty cool. But anyways, no, no, 665 00:35:20,760 --> 00:35:23,680 Speaker 1: no surprise that they're gonna be the first company to 666 00:35:23,680 --> 00:35:25,799 Speaker 1: offer this micro strategy. Was the first company to put 667 00:35:25,840 --> 00:35:29,640 Speaker 1: bitcoin on its balance sheet. So a company, a business, 668 00:35:29,680 --> 00:35:32,520 Speaker 1: they hold, they have savings. Of course, they keep money 669 00:35:32,520 --> 00:35:34,640 Speaker 1: in the bank in case they need it. And they 670 00:35:34,680 --> 00:35:37,239 Speaker 1: had about half a billion dollars sitting in the bank 671 00:35:37,600 --> 00:35:39,160 Speaker 1: and he's like, dang, this money is just like a 672 00:35:39,200 --> 00:35:41,920 Speaker 1: melting ice cube. It's just losing value. I'm gonna put 673 00:35:41,960 --> 00:35:45,640 Speaker 1: it all into bitcoin. And he did famously, and uh, 674 00:35:46,000 --> 00:35:48,560 Speaker 1: he's been he's been popularized from that, so it makes 675 00:35:48,719 --> 00:35:50,719 Speaker 1: makes sense. It's not a surprise that they're the first 676 00:35:50,760 --> 00:35:56,480 Speaker 1: company to do that. However, regulators urge caution, caution, caution, caution. 677 00:35:57,000 --> 00:36:01,000 Speaker 1: The Department of Labor asked fiduciaries to exercise is extreme care. 678 00:36:01,239 --> 00:36:04,560 Speaker 1: Please please please. Let me just tell you, anytime you're 679 00:36:04,600 --> 00:36:07,880 Speaker 1: putting money in you're risking it. If you put money 680 00:36:07,880 --> 00:36:13,920 Speaker 1: into the darlins like Zoom and Shopify and Peloton, you 681 00:36:13,960 --> 00:36:18,960 Speaker 1: would have lost eighty eight percent of your money. And 682 00:36:19,040 --> 00:36:21,160 Speaker 1: I bet you a lot of these plant administrators had 683 00:36:21,200 --> 00:36:24,720 Speaker 1: your money in those stocks or in arc or something 684 00:36:24,760 --> 00:36:27,000 Speaker 1: like that. So there is caution. Always be careful, but 685 00:36:27,040 --> 00:36:29,279 Speaker 1: there's risk everywhere. You're listening to the Mark mo Show, 686 00:36:29,280 --> 00:36:30,960 Speaker 1: we're talking about some of the latest breaking news in 687 00:36:30,960 --> 00:36:35,320 Speaker 1: the space of bitcoin, cryptocurrencies, the decentralized revolution. Thanks for listening.