Speaker 1: The way that the wealthy build wealth. They're using multiple
Speaker 1: things in a proper sequence in order to invest through
Speaker 1: layers to multiply their well five hundred times faster. I
Speaker 1: could have just put it into an index fund and
Speaker 1: it could have grown at six or seven percent. But
Speaker 1: here I've turned it into fifteen million. But that doesn't
Speaker 1: stop there. Now that fifteen million I can borrow against that.
Speaker 1: Bitcoin is our single greatest weapon, not just to build
Speaker 1: wealth for ourselves, just to change the world in a
Speaker 1: massively positive way. If it could capture one point five
Speaker 1: percent by twenty thirty, that puts it at one million
Speaker 1: dollars per bitcoin. Wow, as twenty years after it came out,
Speaker 1: Airbnb did ten percent. Ten years. Whoever's listening to this,
Speaker 1: you're not smarter than Howard Lednik. He put a billion
Speaker 1: dollars in microstrets. So all these people, well, micro strategy
Speaker 1: to scamponzie. Okay, they put a billion dollars, that's like
Speaker 1: forty percent into micro strategy. On the other side, they
Speaker 1: invested into Tether. Tether is the largest stable coin company
Speaker 1: in the world. And you're bearish, like, we have this.
Speaker 1: One of the smartest guys in the world built multiple
Speaker 1: millions of dollars multiple times, running the govern building these
Speaker 1: operations and and and having his money where his mouth
Speaker 1: is in three different companies that are benefiting from this. Right.
Speaker 1: They're not doing it to pump their bags. They realize
Speaker 1: it's the best asset in the world. Yeah, cru Argentina, Lebanon, Turkey,
Speaker 1: et cetera. They desperately want dollars because their currencies are
Speaker 1: exploding all around them, but they're not able to get dollars.
Speaker 1: Their countries keep them from doing that. So US dollars
Speaker 1: stable coins have made it where they can easily get
Speaker 1: to the US dollars. So the world desperately wants US dollars,
Speaker 1: so the US dollar stable coin will get to the
Speaker 1: entire world. And then the government also has another problem,
Speaker 1: the government these people to buy mark.
Speaker 2: Thank you, thank you so much for Lena, and may
Speaker 2: use your studio and interview you man. Yeah, exciting, what
Speaker 2: uh what are you most excited about right now in
Speaker 2: this crazy time?
Speaker 1: Hmmm? What am I the most excited about? I'm so
Speaker 1: excited in every part of my life. Let me let
Speaker 1: me let me just back this up and then we'll
Speaker 1: try to answer that question. I believe that all of
Speaker 1: life is about the law of compounding, right, so Einstein
Speaker 1: called the eighth wonder of the world. Those who know
Speaker 1: it receive it, those who don't know what pay it.
Speaker 1: But typically that's used. I'm sure you use that all
Speaker 1: the time in regards to how an account compounds over
Speaker 1: time and it doubles and things like that. But it's
Speaker 1: not just about money. It's about every single part of life,
Speaker 1: every single part of life. And so I built this
Speaker 1: house down in Mexico, this really big house on the beach.
Speaker 1: This guy came in. He went to do this home
Speaker 1: automation for me. He'd never done a house this big,
Speaker 1: is really outside of his reach, and he was hoping
Speaker 1: that he could use my house to help him start
Speaker 1: getting more high end clients. He did the worst job ever. Now,
Speaker 1: if he would have done a really good job, I
Speaker 1: would have recommend to all my neighbors. But because he
Speaker 1: did such a horrible job, I'll tell all my neighbors
Speaker 1: to never work with him. So instead of it compounding
Speaker 1: one job gets some five jobs, five jobs gets some
Speaker 1: twenty jobs, I'll make sure he never gets another job.
Speaker 1: Not because I'm vindictive, but if my neighbors asked me
Speaker 1: I have to say no. But it so if I
Speaker 1: make a good YouTube video, people are more likely to
Speaker 1: watch my next YouTube video. If I make a bad one,
Speaker 1: they won't watch it again. But when it comes to learning,
Speaker 1: it's also the same way. Like I'm in this space
Speaker 1: where like I am just like voraciously trying to expand
Speaker 1: into every value that I have. I want to be
Speaker 1: like the ultimate best, not to be other people, but
Speaker 1: just be a better version of myself. But in every area,
Speaker 1: I want to work smarter, I want to do bigger deals,
Speaker 1: i want to get more in shape, I want to
Speaker 1: be a better father in every area. And that was
Speaker 1: also the law of compounding as well. So it's like
Speaker 1: I didn't always be I wasn't always like this, but
Speaker 1: at one point I read a book. I was like, Wow,
Speaker 1: that changed my life a little bit. What if I
Speaker 1: read another one? What if I read another Oh my gosh,
Speaker 1: what if I read what if I hired this coach?
Speaker 1: Oh my gosh, what if I And like over time,
Speaker 1: and so now I'm at this point in my life
Speaker 1: right now where it's like I'm just like so excited
Speaker 1: for every single part because every single part of my
Speaker 1: life is just maximizing and then they start to compound
Speaker 1: on each other. Right, So, now what I'm doing in
Speaker 1: the gym, the discipline I'm building the gym, the way
Speaker 1: I've tweaked my diet to give me maximum energy all day,
Speaker 1: then goes into my work and my clarity. So I'm
Speaker 1: super excited about a lot of things because that, as
Speaker 1: you can tell, I would say, ultimately, one big thing
Speaker 1: that I'm really focused on is the law of compounding.
Speaker 1: I started making YouTube videos about seven eight years ago,
Speaker 1: and I didn't want to. My partner at the time
Speaker 1: forced me to, like we were going to break up.
Speaker 1: Our business would fall apart if I didn't, And here
Speaker 1: we are the law of compounding. My reach has gotten
Speaker 1: to the point, you know, they got one hundred million
Speaker 1: views or whatever, and the doors that has opened up
Speaker 1: because of that, the law of compounding, the relationships that
Speaker 1: I've built, and now like the it I'm starting to
Speaker 1: see the impact that I'm making on people's lives through
Speaker 1: the coaching consulting programs like real serious change, but also
Speaker 1: like now I have like companies coming to me. I
Speaker 1: have like a publicly traded company that I just launched
Speaker 1: I'm an officer of. I have other companies that are
Speaker 1: giving me equity to help them, and so it's like
Speaker 1: my pursuit of growth being better every day has now compounded,
Speaker 1: and I see this ripple effect. And so now I'm
Speaker 1: coaching and consulting people on a weekly basis. I have
Speaker 1: people coming into my studio this week to help them,
Speaker 1: and I see the impact of that. So I'm super
Speaker 1: excited about that. But then I see my reach even
Speaker 1: going into businesses and companies and helping them, and so
Speaker 1: that's what I'm the most excited about. So it's like
Speaker 1: almost like my pursuit of leveling up is now compounded
Speaker 1: into other people's lives and even businesses, and it's just
Speaker 1: amazing to see.
Speaker 2: Yeah, I'm hoping to get a mini master class on
Speaker 2: your thoughts about bitcoin and economics and just how Trump's doing.
Speaker 2: But before that, you've been talking about building wealth and layers,
Speaker 2: and I would just love to hear you articulate that.
Speaker 2: And you know, because people come to you all over
Speaker 2: the place to learn how to build wealth, and you're
Speaker 2: although you're fan of bitcoin and some other things, you
Speaker 2: also can look you can take a step back and
Speaker 2: look holistically at the situation.
Speaker 1: Well, I'm mostly known for my work in bitcoin, I
Speaker 1: got started making content around cryptocurrency. Now it's just bitcoin,
Speaker 1: that crypto, but I started my career in real estate.
Speaker 1: So it's like I've been an investor through multiple markets,
Speaker 1: through multiple assets, and I'd say, certainly, I think that
Speaker 1: bitcoin is the cheat code. Bitcoin is our single greatest weapon,
Speaker 1: not just to build wealth for ourselves, which it is,
Speaker 1: and we'll break that down, but to change the world
Speaker 1: in a massively positive way. So it's the cheat code
Speaker 1: for life for us individually and as a as a
Speaker 1: as a world. But also like whether you'd like bitcoin
Speaker 1: or not, put that, put that aside. Whether you like
Speaker 1: real estate, okay, like whatever, there's this raging debate in
Speaker 1: the bitcoin circles, like real estate or bitcoin, which one's better.
Speaker 1: Maybe you're a Dave Ramsey fan and you think you
Speaker 1: should just go into mutual funds and index funds like okay, fine,
Speaker 1: Like choose your weapon. But the way that the wealthy
Speaker 1: build wealth, and part of me building out this network
Speaker 1: is getting access to people like this to see these
Speaker 1: things is that it doesn't matter. They're not trying to
Speaker 1: choose the best. They're using multiple things in a proper
Speaker 1: sequence and order to invest through layers to multiply their
Speaker 1: well three hundred five times, five hundred times faster. And
Speaker 1: so whether you like bitcoin or don't, or whether you
Speaker 1: like index funds are don't, or whether whether you like
Speaker 1: real estate or not, that's not the point. It's how
Speaker 1: do I use multiple assets understanding what we're really doing
Speaker 1: with them, and using them in the proper order and
Speaker 1: sequence to build well. So let me give you an
Speaker 1: example of what I mean. So, what most people think
Speaker 1: that rage in this debate between bitcoin and real estate
Speaker 1: is well, bitcoin's better, No, real estate's better. Well, bitcoins
Speaker 1: better because it's going up faster, it's going up at
Speaker 1: fifty percent a year. Real estate is going to put
Speaker 1: five percent a year. Yeah, but real estate we can
Speaker 1: get we can get leverage because of debt and blah
Speaker 1: blah blah. What they don't realize is that. And then
Speaker 1: there's all this talk about this airbnb boom and all
Speaker 1: these people bought real estate and they're turning into airbnbs.
Speaker 1: But airbnb markets crashing and the home values are dropping
Speaker 1: in Austin fifteen percent. All these people are said down,
Speaker 1: they don't understand. You see what the wealthy do is
Speaker 1: they don't buy real estate for cash flow. They buy
Speaker 1: real estate for tax efficiency. So I was telling you
Speaker 1: I bought this ranch property out in Austin, Texas, two
Speaker 1: and a half million dollar property. That property is an
Speaker 1: airbnb when I'm not there. I used it for events
Speaker 1: when I'm out there. But that got me millions of
Speaker 1: dollars of tax right off. I didn't have to pay
Speaker 1: tax on millions of dollars because I bought that property.
Speaker 1: What do I care if it drops by twenty or
Speaker 1: thirty percent, I don't care. I got millions, right And
Speaker 1: so people don't understand this. They look at it like that.
Speaker 1: And so what happens is like, I'm working with this
Speaker 1: hosted bitcoin mining company right now. We're not selling hosted
Speaker 1: bitcoin mining, we're selling tax efficiency. What if I can
Speaker 1: get double the bitcoin in two and a half years
Speaker 1: and I get a hundred thousand dollars a ride off
Speaker 1: at the same time. And so that's what I've talked
Speaker 1: about with Layers, is like understanding it's not the asset
Speaker 1: that I'm buying, it's how does it fit into my
Speaker 1: picture and how do I use this in a portfolio
Speaker 1: that then allows me to multiply wealth. Let me just
Speaker 1: break this down. So I did a video on this. So, like,
Speaker 1: if I were to put one hundred thousand dollars into
Speaker 1: a whole life insurance policy compounding a five percent a year,
Speaker 1: and then I borrow the money out at five percent
Speaker 1: a year, isn't that a wash? No? Because one is compounding,
Speaker 1: the other one is getting paid down. So I take
Speaker 1: that one hundred thousand, I pull it out and I
Speaker 1: reinvest it, reinvest it into what, Well, first of all,
Speaker 1: over twenty years, that's going to make me fifty thousand dollars.
Speaker 1: That's like a fifty percent return on my capital. Then
Speaker 1: I take that one hundred thousand, and now I go
Speaker 1: buy five hundred thousand dollars worth of real estate, which
Speaker 1: potentially gets me back to the Napkin math four hundred
Speaker 1: thousand dollars in tax right off. So I don't pay
Speaker 1: tax on four hundred grand. That could be one hundred
Speaker 1: and fifty thousand dollars based off of whatever an average salary.
Speaker 1: Now I have a hundred fifty thousand dollars I didn't
Speaker 1: I got to keep because I didn't pay that into taxes.
Speaker 1: Right now, I put that one hundred fifty thousand dollars
Speaker 1: into bitcoin, and in five years that's worth fifteen million dollars.
Speaker 1: And I didn't make up penny more. Yeah, I didn't
Speaker 1: increase my income. I didn't work harder. I could have
Speaker 1: just put it into an index fund and it could
Speaker 1: have grown a six or seven percent. But here I've
Speaker 1: turned it into fifteen million. But that doesn't stop there.
Speaker 1: Now that fifteen million, I can borrow against that, borrow
Speaker 1: fifty percent LTV. I borrowed seven million out buy more
Speaker 1: real estate, and I probably never paid tax again. And
Speaker 1: so that's what I'm talking about in layers.
Speaker 2: Do you have a framework when it comes to layering
Speaker 2: or is it just one of those It's like everyone's
Speaker 2: a little bit different. For example, you talk about tax efficiency.
Speaker 2: I know you're friends with Robert Kyosaki. In his book,
Speaker 2: he's like, don't don't buy taxes just for taxes, buy
Speaker 2: it for cash flow. What is your You know one
Speaker 2: thing that makes Robert so iconic is he has the
Speaker 2: cash flow quadrant. He has the you are financially free
Speaker 2: when you have enough passive cash flow coming into So
Speaker 2: what is your framework for layers? Because it sounds great.
Speaker 2: I love whole life insurance. I know you do is well,
Speaker 2: put money in that asset and leverage that to do
Speaker 2: real estate. Is there like a one two three punch
Speaker 2: for someone listening or watching that that are like maybe
Speaker 2: first principles of like do this, then do this, then
Speaker 2: do this.
Speaker 1: Yeah. Shout out to Robert Kyosaki. He was my mentor.
Speaker 1: I read his books for twenty five years, as he's
Speaker 1: become a friend and it was really him that made
Speaker 1: me look deeper because I got to know him maybe
Speaker 1: around twenty twenty or twenty twenty one. And in twenty
Speaker 1: twenty one, California shutdown. It was COVID pandemic craziness, and
Speaker 1: so we left and I went to Puerto Rico with
Speaker 1: my family. And part of it was just because I
Speaker 1: wasn't going to live locked down. Part of it was
Speaker 1: like I'm a surfer. I love the island. But also
Speaker 1: there's tax efficiency in Puerto Rico, right. And I remember
Speaker 1: I was speaking at conferences, Robert was speaking at conferences,
Speaker 1: and a couple couple times more than once, two or
Speaker 1: three times from stage, he.
Speaker 2: Calls me out, it's cool.
Speaker 1: I want to take a break real quick and just
Speaker 1: say that there's only so much you can learn through videos. Yeah,
Speaker 1: build your knowledge, build your skills, but you need to
Speaker 1: build your relationships or relationships plus skills equals money. So
Speaker 1: come build your relationships and your knowledge at the Bitcoin
Speaker 1: Conference May twenty seventh through twenty ninth in Las Vegas.
Speaker 1: I'm gonna be there speaking for the fourth year in
Speaker 1: a row, and lots of other people way bigger than me. Entertainment, politics, media, finance,
Speaker 1: you name it, they'll be there, So come check it out.
Speaker 1: Save some money with my code Mark Moss or I'll
Speaker 1: put a link down below if you use my code
Speaker 1: to save some money. I'm going to do a private
Speaker 1: meetup just for you and some of my friends. So
Speaker 1: let me know. Use that code, save some money, Send
Speaker 1: me a message and we'll get you in the private
Speaker 1: meetup and I hope to see you in Las Vegas.
Speaker 1: Guys like Mark Moss and Peter Schiff have to move
Speaker 1: to Puerto Rico to not pay taxes. He's like, I
Speaker 1: don't pay taxes, and he would call me out, like
Speaker 1: multiple times from stage, like what an idiot this guy is?
Speaker 1: He had to move to get out of taxes. Don't
Speaker 1: they know that we just don't pay taxes? And so
Speaker 1: that made me go huh, like maybe I need to
Speaker 1: look at this a little bit more, and uh, hanging
Speaker 1: out with them, having dinners with him. I'm like, let's
Speaker 1: break this down, like, what are we doing here, what's
Speaker 1: the strategy whatever? Sting a shout out to Robert Kyosaki
Speaker 1: and the framework, I would say, I guess maybe I
Speaker 1: don't have a clearly defined framework as far as which
Speaker 1: assets go into which ones because sort of like our
Speaker 1: mutual friend Garrett Gunderson, it's like this investor DNA, so
Speaker 1: as I said, maybe you don't like bitcoin, cool, like whatever,
Speaker 1: don't don't get hung up on that. It's like Trump
Speaker 1: derangement syndrome. Somebody can't see past that. Okay, let's put
Speaker 1: a different asset in there. So looking at different assets differently,
Speaker 1: but I think the order makes sense of one, set
Speaker 1: up that base layer, it's right. Two. I use real
Speaker 1: estate there because that's how we get rid of the taxes. Now,
Speaker 1: there's other ways to do that, but like real estate
Speaker 1: is the easiest way to get that leverage. Because what
Speaker 1: people that are like, maybe they're they thinking like level
Speaker 1: two or level three on this. They think they buy
Speaker 1: things for tax write offs. But I mean I still
Speaker 1: have to give up the money. What wealthy do is
Speaker 1: I don't want to spend a dollar and write off
Speaker 1: a dollar. I want to spend a dollar in write
Speaker 1: off five dollars. I want to spend a dollar and
Speaker 1: write off ten dollars. So then what allows me to
Speaker 1: do that? Well, typically it would be things that I
Speaker 1: can put leverage against. So real estate is one. I'm
Speaker 1: working on bringing a product to market where we can
Speaker 1: do loans against bitcoin mining equipment, and then I can
Speaker 1: also get that leverage right off. Wealthy do other things
Speaker 1: with collectibles, fine art, things like that, land conservations, things
Speaker 1: like that. So there's other ways to get that. I mean,
Speaker 1: Elon must did it with Tesla, you know, I sell
Speaker 1: and carbon credits or tech you know, things like that.
Speaker 1: So there are other ways, But what are the ways?
Speaker 1: It all starts with a question, right, So it's like, Okay,
Speaker 1: I set my base layer so I always have a
Speaker 1: growing Then how do we get the tax efficiency? And
Speaker 1: I know that I want three, five, ten dollars a
Speaker 1: right off of every dollar I spend, So what gives
Speaker 1: me those? Real Estate's just the most successful way for everybody.
Speaker 2: To do that.
Speaker 1: Now I keep more money, what do I do with
Speaker 1: it next. Now you can put that in the S
Speaker 1: and P five hundred. If that's you, maybe it's Tesla Nvidia.
Speaker 1: For me, I think it's bitcoin because I don't think
Speaker 1: there's any asset in the world that will outpace bitcoin.
Speaker 1: Bitcoin is the cheat code, and so it certainly belongs
Speaker 1: in our PORTFOLI the most bitcoiner. For say, just buy
Speaker 1: bitcoin and don't do anything. And that's not a bad strategy.
Speaker 1: You can just buy bitcoin and outperform every single Wall
Speaker 1: Street hedge fund. You can just beat everybody just by bitcoin.
Speaker 1: That's it. Just buy it. But because I want to
Speaker 1: get better at everything, why not make three to five
Speaker 1: hundred percent more and do it that way?
Speaker 2: Yeah, I wrote, build the foundation and then leverage for
Speaker 2: text benefits and then for compounding.
Speaker 1: That's exactly right.
Speaker 2: I love that, all right, sell me on bitcoin. I
Speaker 2: have a lot of a lot of the people that
Speaker 2: watch this are into real estate, are business owners, and
Speaker 2: understand the powerful life insurance, so they're maybe more sophisticated
Speaker 2: than the average person. Bitcoin is one of those things
Speaker 2: that I get a lot of questions on and I
Speaker 2: have come I mean, I remember during COVID, I was like,
Speaker 2: what is going on? And now it's over eighty thousand,
Speaker 2: and there's people saying that it's that's only beginning. I
Speaker 2: talked to someone last night that's like, put your money
Speaker 2: in bitcoin.
Speaker 1: I think it has a ten X in front of
Speaker 1: it in the next five years.
Speaker 2: Can help me understand break down them? Yeah's help me
Speaker 2: understand bitcoin.
Speaker 1: So what happens is about every fifty years. For the
Speaker 1: last three hundred years, we're on the sixth cycle. So
Speaker 1: we have these cycles. They're about fifty year cycles that happened,
Speaker 1: and I call them quantum wave cycles. Other people have
Speaker 1: called them k waves or conjointive waves. You can look
Speaker 1: them over. But basically, we have a technological revolution that
Speaker 1: happens about every fifty years, and we get this cluster
Speaker 1: of technologies that gives us new sets of building blocks
Speaker 1: that we didn't have before. So the problem that humans
Speaker 1: have is we're no good to imagine in the future
Speaker 1: because we can only imagine better versions of what we
Speaker 1: have today, but we don't imagine that we'll have different
Speaker 1: building blocks to let us build different things. If you
Speaker 1: have a deck of cards, what can you build a
Speaker 1: deck of cards versus what can you build legos? Right,
Speaker 1: So we had It all started with the Industrial Revolution.
Speaker 1: We had mechanized machines for the first time, machines that
Speaker 1: could do the work of five thousand men. Then we
Speaker 1: had the steam engines and railways. Now we can move stuff,
Speaker 1: and we had electricity, steel, heavy equipment. Now we can
Speaker 1: build skyscrapers, bridges, electricity, obviously oil, oil fuels, automobiles, and
Speaker 1: mass production. In nineteen oh eight nineteen seventy one the
Speaker 1: birth of the microprocessor, which brought us to personal computers,
Speaker 1: telecom internet, teach huge. These are all quantum leaps, and
Speaker 1: now we're entering another one. And what bitcoin is this
Speaker 1: new piece of technology. And the problem that we have
Speaker 1: because we can't imagine the future very well. We try to.
Speaker 1: Our brains are really comparing mechanisms, like, hey, this is heavy,
Speaker 1: well heavy compared to what, right, So what is this electricity? Oh,
Speaker 1: it's kind of like a digital candle. It gives us light. Well,
Speaker 1: it was like a digital candle. That was a use
Speaker 1: case for it, but of course electricity is so much
Speaker 1: more than that today. So we think about what is bitcoin. Well,
Speaker 1: it's sort of like these things. Well it is like that,
Speaker 1: and it's like that, and it's like that it's like
Speaker 1: but it's even more right. So right now bitcoin is falling.
Speaker 1: It's a new piece of technology, and I want to
Speaker 1: I want to try to explain it without going too deep.
Speaker 1: You need a thousand hours. You can't borrow someone's conviction. Right,
Speaker 1: But what we know is that we have this monetary
Speaker 1: history and all types of different things have been money
Speaker 1: throughout history. Feathers, rock, seashells, and eventually gold emerged as
Speaker 1: the best form of money. So it's we understand that
Speaker 1: money is an evolutionary path. So it starts as a collectible.
Speaker 1: Look at this cool rock or feather or seashell. Look
Speaker 1: at this baseball card, this Pokemon card. Now, some collectibles,
Speaker 1: not all, but some evolve to the next stage, which
Speaker 1: is a store of value. Some baseball cards or are
Speaker 1: stores of value. Some wealthy people do store their wealth
Speaker 1: or value in collectibles and fine art and things like that. Now,
Speaker 1: if some have the right attributes, it could evolve maybe
Speaker 1: to the next stage, which is a medium exchange. So
Speaker 1: it needs to have the money attributes portable, divisible, durable, recognizable, saleable,
Speaker 1: things like that. So like a mona lisa is terrible
Speaker 1: because you can't divide it up. A cow could be,
Speaker 1: but it's not fungible one part, like a ribbi is
Speaker 1: different than a liver. Right. A banana would be terrible
Speaker 1: because it's not durable. So gold emerged as that's the
Speaker 1: best one, and it was the most scarce asset. But
Speaker 1: the problem with gold is that that was great in
Speaker 1: an industrial era. So really what happened is we had
Speaker 1: this gold age. But in the fifteen hundred's, actually like
Speaker 1: fourteen ninety eight, Luco Palliali in Florence, Italy created a
Speaker 1: new piece of technology called the ledger in double entry accounting.
Speaker 1: And because gold was too slow, how do I sell
Speaker 1: it across the sea? How do we trade globally when
Speaker 1: gold is so slow, big, heavy, dangerous to transport. So hey,
Speaker 1: we have this new piece of technology called a ledger
Speaker 1: or double enjoy accounting. So you give us the gold
Speaker 1: and we'll just keep track of the ledger. And that's
Speaker 1: basically the system that we're on today. The problem is
Speaker 1: who controls the ledger, and so that's always been the problem.
Speaker 1: So gold required all this centralization, and so what happened
Speaker 1: is all the gold went in the banks. The banks
Speaker 1: controlled the ledgers. But in nineteen thirty three, the United
Speaker 1: States government seized all the gold from the people. And
Speaker 1: part of the reason why they seized it is because
Speaker 1: they were lying about the Lleger. They kept printing too
Speaker 1: much paper debt and it wasn't tied to the dollar,
Speaker 1: and they found themselves short. They owed a lot of gold,
Speaker 1: and so they said, let's just take all the gold
Speaker 1: is in the banks. And so gold is always going
Speaker 1: to be susceptible to the same problem. It requires centralization
Speaker 1: because we're not in this old industrial agency more. We're
Speaker 1: an information age. And so today now transactions are at
Speaker 1: the speed of light, transactions I can click. I have
Speaker 1: this problem every time I think of something. I was
Speaker 1: opened my Amazon app and it's like here today. Right,
Speaker 1: But settlement is still from the fifteen hundreds. Settlement still
Speaker 1: takes three to five days to get an ach credit
Speaker 1: card into your bank. Isn't that wild? But it's not
Speaker 1: even that. Final settlements really about ninety days to six months,
Speaker 1: because someone could charge their credit card back final settlement.
Speaker 2: That's right.
Speaker 1: So we have this antiquated financial system. But more importantly,
Speaker 1: not only is it antiquated, but it it's destructive. Right,
Speaker 1: And so if you look at Chargers' website called wtf
Speaker 1: Happened nineteen seventy one? And it shows it's just a
Speaker 1: whole website full of charts. You'd love it. Just charts,
Speaker 1: that's it. And it's every single chart with a line
Speaker 1: at nineteen seventy one, and the homelessness rate boom, the
Speaker 1: single mother birth rate boom, the obesity rate boom, the
Speaker 1: incarceration rate boom. Certainly, our purchasing power going down. Home
Speaker 1: price is going up, gas price, everything, all the price
Speaker 1: is going up. But I laid out the destructive parts
Speaker 1: of society, the single mother birth rates, the incarceration rates,
Speaker 1: the divorce rates.
Speaker 2: Why going off the gold standard? Why did that have
Speaker 2: that effect?
Speaker 1: Well, because when we got off of any tie to
Speaker 1: sound money and started printing endless amounts of money, we
Speaker 1: create inflation. So when we print money, it creates inflation,
Speaker 1: which means that every time they print a dollar, my
Speaker 1: existing dollar buys me less goods and services. So as
Speaker 1: they printed more and more and more and more and
Speaker 1: more and more, my dollar bought me less and less
Speaker 1: and less and less and less. And so what happened
Speaker 1: is on an average wage, where I used to be
Speaker 1: able to buy the American dream, the house, to car,
Speaker 1: the college education. Now today you can't. And so the
Speaker 1: reason why the cost of everything went up is because
Speaker 1: they kept printing more dollars. My dollars were buying less
Speaker 1: of those things. But at the same time, the destruction
Speaker 1: of society went down. Because what's the number one cause
Speaker 1: of divorce money? One of the main causes of obesity
Speaker 1: is I can't afford good food. I eat junk food.
Speaker 1: Why do we have the incarceration going up? Well, now
Speaker 1: I got to rob and steel. So it's not just
Speaker 1: it's not just that things have gotten more expensive. It's
Speaker 1: not just that my quality of life has gone down.
Speaker 1: It's not that they've literally stole my life. So let's
Speaker 1: think about this. Back just a few years ago, under
Speaker 1: President Biden, we had but nine percent inflation. Now it
Speaker 1: was probably twenty percent, but let's just call it the
Speaker 1: nine What does that mean? That means for the average
Speaker 1: person making thirty bucks an hour, they have to work
Speaker 1: ten hours more per month just to have the same
Speaker 1: quality of life that they had before, just to have
Speaker 1: the sayd SA ten hours more per month, ten hours
Speaker 1: that I could have spent with my kid, ten hours
Speaker 1: I could spent with my wife. Ten hours I could
Speaker 1: have spent on a side business. Ten hours I could
Speaker 1: have been in the gym. They took my life, my
Speaker 1: life hours. All of economics is built on the law
Speaker 1: of scarcity. The most scarce sasset in the world is time.
Speaker 1: That's what they took. But then we can see the
Speaker 1: societal destruction of that. And I have to lay out
Speaker 1: the problem because if you don't understand the problem, you
Speaker 1: don't understand the solution. So now we have a way
Speaker 1: to store our wealth, our value, our energy, our life
Speaker 1: energy in an asset that can't be inflated away. So
Speaker 1: bitcoin has a cap of only twenty one million, so
Speaker 1: they can't print more of it. And on top of it,
Speaker 1: they can't seize it, they can't manipulate it, they can't
Speaker 1: steal it. And I can transmit it immediately, immediately for
Speaker 1: almost free. Now people are like, oh, bitcoin's too slow
Speaker 1: and it's too expensive. Okay, that's the twenty sixteen argument.
Speaker 1: Get what the time is here? Like, I can send
Speaker 1: bitcoin faster and cheaper than any any nails right now.
Speaker 1: And by the way, in my setup of the problem,
Speaker 1: faster money was not one of them those things. So
Speaker 1: a lot of times we were like, oh but this
Speaker 1: one's faster. Okay, so we needed faster money. That's the
Speaker 1: cure to all our problem. So like, understand what the
Speaker 1: problem is. So if you understand the solution, right, So
Speaker 1: now we have a way that we can store a
Speaker 1: value in a way that can't be taken from us
Speaker 1: if you think about it right back to like energy, Right,
Speaker 1: So if I dig a hole for four hours and
Speaker 1: I can earn enough to like live for that day,
Speaker 1: what if I worked an extra for us, I worked
Speaker 1: eight hours, Well, now I could save so I have
Speaker 1: some money. So tomorrow I don't have to work. I
Speaker 1: have the money I could pay. So really, if I
Speaker 1: think about that money, it's like my energy.
Speaker 2: It's like a battery like oxygen.
Speaker 1: Yeah, but it's like I think of like a battery, right,
Speaker 1: it's store that energy so I can deploy that energy tomorrow.
Speaker 1: I don't have to work. I don't want to. But
Speaker 1: you don't want your battery to be leaking, like you
Speaker 1: don't want to come out in the morning, and I
Speaker 1: can't start your car, right, And so that's what happens
Speaker 1: with with dollars. And most people know this by now,
Speaker 1: Like you don't store your wealth and dollars people. People
Speaker 1: understand this, It's okay, But biitoin is this revolution where
Speaker 1: now I have this way that I can store it
Speaker 1: in a way that can't be debased. And it's just
Speaker 1: real simple. I say. One of the two greatest tricks
Speaker 1: the FED ever played was one telling people that we
Speaker 1: needed our money supply to always expand, and two that
Speaker 1: asset prices going up is a good thing. Neither of
Speaker 1: those are true. We don't need our money supply to
Speaker 1: go up. Would you rather have your money buy you
Speaker 1: more goods and service in the future or less? And
Speaker 1: so when you have an inflated inflated money supply, it
Speaker 1: always buys you less. A fix my supply buys you more.
Speaker 1: So that's sort of the premise as to why bitcoin Now,
Speaker 1: I'd like to tell you why bitcoin and not the
Speaker 1: other ones?
Speaker 2: Yeah, because I'm writing down law of scarcity. This is
Speaker 2: something that's that's that's big. And is that the difference
Speaker 2: between gold and bitcoin or is it the ledger who
Speaker 2: controls the ledgers?
Speaker 1: It's all three of those, right. So in order to
Speaker 1: have the attributes of sound money, you need portable, divisible, durable,
Speaker 1: recognizable things like that, right. Gold is very durable. I
Speaker 1: can sit in the bottom of the ocean forever. It
Speaker 1: doesn't corrode, right, you can break it down, melt it.
Speaker 1: So gold worked really well and it's the most scarce
Speaker 1: out of the money. That's why won over silver. But
Speaker 1: it's not portable and it's not easily verifiable. So with gold,
Speaker 1: how do I know what the purity is? The waight
Speaker 1: is So they've had all types of coinage and they've
Speaker 1: done all types of things, but like you know, China
Speaker 1: had gold bars with that were tungsten painted as gold, right,
Speaker 1: So like, how do I verify if the gold is real?
Speaker 1: So gold is certainly the best, but it's not portable, okay,
Speaker 1: and it's not verifiable very easily. I need like some
Speaker 1: spectrometer or something to do that.
Speaker 2: Right.
Speaker 1: So gold is and it's the most scarce, but bitcoin
Speaker 1: is more. So Bitcoin is more scarce, Bitcoin is more portable, right,
Speaker 1: and bitcoin is more verifiable. Right, So that's that's why
Speaker 1: it wins over that.
Speaker 2: Okay. So so now yeh dive into bitcoin over other
Speaker 2: cryptocurrencies because even Trump the other day tweeted about it
Speaker 2: was it back coin? Well that, but also like XRP
Speaker 2: Solana he mentioned I don't know if you mentioned ethereum.
Speaker 2: He mentioned it, and so all of those went.
Speaker 1: Up, they went up, and they went back down. So
Speaker 1: when it comes to so first we could talk about
Speaker 1: bitcoin in regards to real estate and all the other assets,
Speaker 1: but let's talk about in regards to cryptocurrency. So you
Speaker 1: need to put a thousand hours in, but I'm giving
Speaker 1: you the crash course here. So, like what is bitcoin?
Speaker 1: So instead of having one database, so like Facebook or
Speaker 1: MySpace or Experience, they're in like a database and there's
Speaker 1: like it's in a company and there's like a cybersecurity
Speaker 1: team that tries to protect it. But every database is
Speaker 1: basically been hacked. Right, so Experience was hacked. I mean
Speaker 1: the NSA was hacked, right, but what happened. What bitcoin
Speaker 1: is is that revolutionary technology that we've never seen before.
Speaker 1: And what it is instead of having one database, it's
Speaker 1: a decentralized ledger. So we now have a thousand or
Speaker 1: a million or ten million ledgers. So if I had
Speaker 1: a bank with a billion dollars, that's a pretty big target.
Speaker 1: Someone might might want to go attack that. But if
Speaker 1: I have a billion banks with one dollar each, and
Speaker 1: so we have this new decentralized ledger. And what happens
Speaker 1: is it's only decentralized if everybody can run one. So
Speaker 1: the bitcoin database is very small. It's about shoot, I
Speaker 1: don't know what it is right now, probably four five
Speaker 1: hundred gigabytes. So that means a kid in Africa with
Speaker 1: like a five year old now top could run a
Speaker 1: bitcoin database. So anyone in the world could run it.
Speaker 1: You could put it onto a thumb drive. Anyone in
Speaker 1: the world could run a database, which means it stays decentralized.
Speaker 1: And what happened is in the beginning, if five people
Speaker 1: run it, or ten people run it, or on a
Speaker 1: hundred people run it's not very strong because what happens
Speaker 1: is the database has to achieve consensus, so I finally
Speaker 1: have to take over ten nodes or fifteen nodes or
Speaker 1: thirty nodes. That's doable. Then we have the mining, so
Speaker 1: we have the node, the database layer, and then we
Speaker 1: have the mining layer. The mining layer is the digital energy,
Speaker 1: so that's what protects the network, that's what processes the transactions.
Speaker 1: So the mining the hashing power is so big, and
Speaker 1: then the database is so big, so you have to
Speaker 1: take over over half of that to even have a chance,
Speaker 1: and you still wouldn't do it, but we have to
Speaker 1: have a chance. So what happened is bitcoin was creating
Speaker 1: this wrinkle in time. It was we call it this
Speaker 1: immaculate conception. We don't know who created who stitutional komotive is,
Speaker 1: but it was creating this in this in this wrinkle
Speaker 1: in time, but nobody knew what it was, and it
Speaker 1: was allowed to grow in the wild for about a
Speaker 1: decade until people realize what was going on, and at
Speaker 1: that point it was too big to kill. The problem
Speaker 1: is today is there's no way to do that again.
Speaker 1: I mean people have tried, okay, because what happens is
Speaker 1: all the other you mentioned Ethereum Ada is one, he
Speaker 1: mentioned Cardano Solana. Those are all basically just centralized ledgers
Speaker 1: over a couple nodes. And the reason why is because
Speaker 1: I can't run an ethereum node. The database is way
Speaker 1: too big. I have to run a Prune version, a
Speaker 1: cryptn version on a professional server in a professional co
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Speaker 1: And so it's created this centralization and so only Bigoin
Speaker 1: has done that. Now other people have tried to do
Speaker 1: something similar, but the problem is now that we know
Speaker 1: about it, it gets attacked immediately. People attack that, they'll double spend,
Speaker 1: they'll steal money off of it, and so now nothing
Speaker 1: can get big enough. It's kind of like when you
Speaker 1: have an invasive species. A rabbit comes over to Australia
Speaker 1: and they don't have a rabbit, or a fish comes
Speaker 1: in we have this problem all over the US, like
Speaker 1: muscles come in or a fish comes in, right, and
Speaker 1: it takes over that habitat, and once it's taken over, like,
Speaker 1: there's nothing else that can really come in and take that.
Speaker 1: So Bitcoin sort of grew in the space and there's
Speaker 1: just nothing else that can be there and that and
Speaker 1: that's why nothing else And so you have to understand
Speaker 1: the technical side of things. What we want is something
Speaker 1: that nobody can control. Ethereum has changed their monetary supply
Speaker 1: like three times in the last two or three.
Speaker 2: Years, a lot of scarcity. He goes out the window.
Speaker 1: And all these other coins, Cardano and xorp they have
Speaker 1: something called governance. They all have governance. So what that
Speaker 1: means is that they have staking. So whoever has the
Speaker 1: most tokens stakes them and whoever has the most token
Speaker 1: staked gets the most votes, and then they vote on
Speaker 1: changes on the on the.
Speaker 2: Oup And none of that exists in bitcoin.
Speaker 1: There is no consensus. I mean, I'm sorry, there's no governance. Yeah,
Speaker 1: it's it's rules, not rulers.
Speaker 2: Yeap. What are some of the biggest conspiracy theories when
Speaker 2: it comes to like the fact that we don't actually
Speaker 2: know who started bitcoin, and like, I'm going to ask
Speaker 2: you to do something difficult, like play Devil's Advocate to like,
Speaker 2: what are some of the biggest cons you think that
Speaker 2: bitcoin has?
Speaker 1: Uh?
Speaker 2: Is it?
Speaker 1: Is it?
Speaker 2: Because I know a talking point back in the day
Speaker 2: was like, it's going to get to a place where
Speaker 2: it's going to be too hard to mine and it's
Speaker 2: going to cost too much and energy. And I talked
Speaker 2: to someone yesterday that says the amount of water that's
Speaker 2: going to have to be used to cool down these machines.
Speaker 2: And so you have some environmentalist people like what are
Speaker 2: something None.
Speaker 1: Of that's true. Okay, none of that's true. I can
Speaker 1: go through each one of those one by one. But
Speaker 1: if you ask me, what is the biggest one today
Speaker 1: that I can think of? Uh, the only threat that
Speaker 1: bitcoin had, we've defeated all those narratives. Now we've even
Speaker 1: defeated the what the government will make it illegal. We've
Speaker 1: defeated that one as well. Obviously, right, Trump has now
Speaker 1: created a strategic bitcoin reserve. It's in the US government.
Speaker 1: He said that the US will be the bitcoin powerhouse
Speaker 1: of the world. Like anyone who's not the government's going
Speaker 1: to make it illegal, Like that's out the window too.
Speaker 1: The biggest one is if if bitcoin can stay decentralized
Speaker 1: and secure, that's just can it? If If as long
Speaker 1: as it continue to stay decentralized and secure, that's it.
Speaker 1: That's the biggest threat. Now, what would have to happen
Speaker 1: for not to be trust me? Over the last seven
Speaker 1: eight years, at all these conferences and events I speak at,
Speaker 1: we stay up late at night playing game theory, and
Speaker 1: I don't know the answer for that. Theoretically it's impossible.
Speaker 1: But anything can happen, right, So possibilities are endless, Probabilities
Speaker 1: are few, so the probability of that happening is very low.
Speaker 1: But some of these things, let's talk about the energy
Speaker 1: one for example. First of all, anyone who says that
Speaker 1: argument should just be disregarded in the first place. And
Speaker 1: here's why. And anyone who knows anything basic stuff knows
Speaker 1: that the wealth of a nation comes from the amount
Speaker 1: of energy they have. The poorest nations in the world
Speaker 1: have no energy, like people in Africa whose kids die
Speaker 1: every single day because they don't even have a hospital
Speaker 1: or an incubator to put their baby in. Wealth of
Speaker 1: nations comes from the energy they have. Energy is a
Speaker 1: good thing, not a bad thing. So anyone who says
Speaker 1: that rapt bactial just be disregarded. But they also don't
Speaker 1: understand biquin either. So in order to make bitcoin mining profitable,
Speaker 1: you need to have about three cents per killowod hour
Speaker 1: power or less. Here in California in the summer, we
Speaker 1: have a tiered system. At the top of the tier
Speaker 1: is forty cents per kilowat hour. You can't mind bitcoin
Speaker 1: in California. So if it's forty cents in California, why
Speaker 1: would someone sell it for three? Well, the law of
Speaker 1: supply and demand is not very basic, and it would
Speaker 1: basically tell me the only reason why someone would sell
Speaker 1: it for three is if they created the energy but
Speaker 1: have no buyers for it. So what happens is the
Speaker 1: way the energy system works, especially now they've completely screwed
Speaker 1: up by putting unreliable power in there from wind and solar,
Speaker 1: is that when I turn my switch on, I expect
Speaker 1: electricity to come on. So we need to always have powers.
Speaker 1: We have baseload, but we also have to be prepared
Speaker 1: for peaks. It gets hot, everyone turns to AC on whatever.
Speaker 1: So what happens is now in unreliable power, wind and solar.
Speaker 1: Sometimes it's not windy and sometimes it's not sunny, and
Speaker 1: so now we have this problem. And so they've been
Speaker 1: building what they call peaker plants. They build an entire
Speaker 1: other plant to be run in the event they need
Speaker 1: more power. So we have this place all over the
Speaker 1: world where power is being created but not being used.
Speaker 1: That would be what I would call the definition of waste.
Speaker 1: They say bitcoin is wasting energy. If you use something,
Speaker 1: that's not a waste, but they're literally making energy and
Speaker 1: not using it. That's a waste. And so bitcoin can
Speaker 1: only operate on wasted energy, energy that's already been created
Speaker 1: and is not being used. And once it starts being used,
Speaker 1: the price starts going up. Competition goes to five cents,
Speaker 1: seven cents, and bitcoin has to pack up and move
Speaker 1: to another district where it's cheaper. And so yeah, anyone
Speaker 1: who said that, first of all, they don't understand ergy
Speaker 1: number two. They don't understand bitcoin at all. So I'd
Speaker 1: say that, and yeah, who cares about that? But ultimately
Speaker 1: I would just say, like bitcoin is the apex predator
Speaker 1: of assets, and the reason why is because all the
Speaker 1: forms of storing our capital today are five to seven
Speaker 1: hundred years old. Stocks equities, right, how long ago was
Speaker 1: that created? Right? The Dutch? The Dutch created a market,
Speaker 1: you know, the stock market. So we have all these
Speaker 1: different assets, and like real estate seems like a good asset,
Speaker 1: but when you look at the maintenance and the property
Speaker 1: taxes and understand what's going on with that, or gold,
Speaker 1: Like where could you have put gold one hundred years
Speaker 1: ago that would still be there today? Yeah, right, and
Speaker 1: so then you look at okay, so then we can
Speaker 1: go into an I'm just gonna throw this out there.
Speaker 1: We don't have time to go down this rabbit hole.
Speaker 1: But if you think about oil, oil is an asset.
Speaker 1: Oil is a commodity. Bitcoin is an asset. Bitcoin's a commodity,
Speaker 1: a commodity being different than in equity, a commodity being
Speaker 1: that anyone anywhere in the world will get it right.
Speaker 1: It's fungible matter where you get it right. There's no
Speaker 1: common issuer, right, whether it's wheat or oranges or oil.
Speaker 1: So bitcoin is that. But you have oil as an asset,
Speaker 1: a commodity that sits around sixty to eighty bucks a
Speaker 1: barrow for the last fifty years, so it buying oil
Speaker 1: itself isn't necessarily the best thing. But there's an oil
Speaker 1: industry that's the eighth largest industry in the world worth
Speaker 1: four point eight trillion dollars. So who made the pressure
Speaker 1: sensor for the oil pipeliner? Who made the sanar for
Speaker 1: the oil tinker? Right? And so we have bitcoin, But
Speaker 1: now we have this bitcoin asset. So when I talk
Speaker 1: about energy systems, for example, bitcoin is now transforming our
Speaker 1: energy grids across the entire world. So we haven't thought
Speaker 1: about that. But if we just think about it from
Speaker 1: assets specifically, and only store value assets, what are the
Speaker 1: things that we're using currently to store our value? Real estate, bonds, equities, cash,
Speaker 1: offshore bank accounts, fine art, collectible's gold. Right now today
Speaker 1: that total is about nine hundred trillion dollars. Now that
Speaker 1: pie continues to grow, So as we continue to pret
Speaker 1: more money that grows at the rate that we're on,
Speaker 1: that nine hundred trillion, by twenty thirty will be one
Speaker 1: point three quadrillion total store value assets. And then you
Speaker 1: just ask yourself, there's thirty to forty trillion in off
Speaker 1: shore bank accounts. Is bitcoin better than that? Sure?
Speaker 2: You start lining it up and you're like Bitcoin is
Speaker 2: superior over all this things.
Speaker 1: It's superior over all those stuff. It doesn't mean they
Speaker 1: all go to zero. What it does mean is that
Speaker 1: Uber is superior to taxis. Taxis are still there today,
Speaker 1: but Uber pulled value. So we have from a venture
Speaker 1: capital lens, we have disruptive technology. We look at the
Speaker 1: market size that it's disrupting. We estimate what a percentage
Speaker 1: we think we can capture from that industry. So Uber
Speaker 1: and Airbnb both captured ten percent of their markets within
Speaker 1: ten years. So then the question is, if bitcoin is
Speaker 1: superior to all those other assets, what percentage of that
Speaker 1: pie do we think is realistic to capture. If it
Speaker 1: could capture one point five percent by twenty thirty, that
Speaker 1: puts it at one million dollars per bitcoin. Wow, now
Speaker 1: that's by twenty thirty, that's twenty five and that's less
Speaker 1: than two percent, is less than to percent. That's twenty
Speaker 1: years after it came out. Uber and Airbnb tod ten
Speaker 1: percent ten years.
Speaker 2: So yeah, that's mark. You have a gift. I've I've
Speaker 2: talked to lots of people and you laid it out
Speaker 2: this better than I've ever heard before. So thank you.
Speaker 2: Were times limited I can we rapid fire some things.
Speaker 1: Let's do it. U.
Speaker 2: I want to understand quickly about the government crypto reserve,
Speaker 2: and like what what what that means?
Speaker 1: So the government crypto reserve. Trump is the master negotiator, YEA.
Speaker 1: The Art of the Deal. He read it, he wrote it.
Speaker 1: If you haven't read the book, just read it. And
Speaker 1: so what one of the one of one tool that
Speaker 1: you have in negotiating is something called anchoring. So you
Speaker 1: throw out something big to anchor or or shift the
Speaker 1: overton window as we call it. Right, So Trump throws
Speaker 1: out crazy things and you think he's crazy nothing. By
Speaker 1: the way, I just listened last night there's an interview
Speaker 1: with Howard Lutnik from the All In, All In podcasts.
Speaker 1: Have you listened to it?
Speaker 2: I have not listened to it, but it's.
Speaker 1: I saw everybody say it's the best interview in the world.
Speaker 1: I watched it last night and I went, holy crap,
Speaker 1: we have the very smartest people in the entire world.
Speaker 2: I've seen clips and it's it's pretty exciting.
Speaker 1: Wow. But anyway, and he puts he's known Trump for
Speaker 1: thirty five years. He paints a picture of him. He
Speaker 1: is not an idiot. Everything he says, is perfectly measured.
Speaker 1: So he came out and said that, well, first in
Speaker 1: the in the in the presidential run, you had burnt
Speaker 1: uh or you had RFK Junior, sorry, still running at
Speaker 1: that time, and he came to the Bitcoin conference said
Speaker 1: he wanted to create a state biccoin reserve. Well, Trump,
Speaker 1: not to be outdone, said well, I'll do that as well.
Speaker 1: Obviously they're working together now, so we also have Senator
Speaker 1: Lummis from Wyoming has already submitted a bill to also
Speaker 1: create this in the government, and lots of people are
Speaker 1: backing this. Now. What Trump did is he came out
Speaker 1: and said, maybe it'll be a crypto asset reserve, and
Speaker 1: maybe we'll do Cardano, when we'll do Solon and all
Speaker 1: these things, and he just kind of threw out all
Speaker 1: that crap and basically got everyone outraged. And not just everybody.
Speaker 1: Brian Armstrong, the CEO of coinbase, which makes all its
Speaker 1: money from people trading those assets, came out and said, whoa, whoa, whoa,
Speaker 1: you can't do that. Only Bitcoin. The head of the
Speaker 1: creator of Solana, came out and said, well even though
Speaker 1: his coin that mentioned, he said, whoa, whoa, whoa, whoa
Speaker 1: we can't like, hang on, hang on, and so everyone's like, no, no,
Speaker 1: just bitcoins is bitcoin. And then bitcoin went through and
Speaker 1: they were very clear when it went through that it
Speaker 1: is only bitcoin. Everything else will be looked at completely
Speaker 1: ply different, will be treated completely different. And they made
Speaker 1: this big differentiator line.
Speaker 2: Does that mean the US is just going to stockpile bitcoin?
Speaker 1: I mean, we don't know exactly, so the details of
Speaker 1: it have not been fully fleshed out. So he said,
Speaker 1: as of right now, any government owned bitcoin that we
Speaker 1: have currently, which was about two hundred thousand or the
Speaker 1: bide administration, but we believe that they've been secretly selling
Speaker 1: it off. But whatever we have left on the books,
Speaker 1: will we kept about two hundred thousand, it's about one
Speaker 1: percent of the suppot. And then they are going to
Speaker 1: create a plan to continue to buy more bitcoin. But
Speaker 1: he called it in a budget neutral way. So what
Speaker 1: can we do to get bitcoin without paying for it?
Speaker 1: Because taxpayers may object to that? So could we trade
Speaker 1: gold for it? You know, could we do it through terror?
Speaker 1: What can we do in a budget neutral way? That's
Speaker 1: what we don't know the details of that yet. But
Speaker 1: when you listen to this interview of Howard Lutnik, who's running. Dude,
Speaker 1: the guy is so smart. You have to listen to this.
Speaker 1: But like he's he's he's helping. He's the Commerce Secretary,
Speaker 1: so he's helping set up this the not only the
Speaker 1: sovereign the Strategic bigcom Reserve, but the Sovereign Wealth Fund
Speaker 1: and so both of those will have bitcoin. Let me
Speaker 1: paint this picture for you. So Howard Lutnik, dude, listen
Speaker 1: to this interview. The guy is so friggin smart. Yeah.
Speaker 1: He owns a company called Cantor Fitzgerald. Right, it's a
Speaker 1: billion dollar Wall Street fund, right, and he had the
Speaker 1: top five floors of the World Trade Center. His company
Speaker 1: got bombed out. Six hundred people that work for him died.
Speaker 1: His company got destroyed. He rebuilt everything, so he's built
Speaker 1: it from the ground up multiple times. Cantor Fitzgerald announced
Speaker 1: that they are going to open up a two billion
Speaker 1: dollars bitcoin equity facility or credit line, So basically institutions
Speaker 1: don't have to sell the bitcoin and they can tap
Speaker 1: into the equity. So that brings two billion dollars back
Speaker 1: to the market. So Cantor Fitzgerald now is sitting in
Speaker 1: the center of this of this bit of this bitcoin web,
Speaker 1: let's call it. Well. Cantor Fitzgerald now also bought a
Speaker 1: billion dollars in micro Strategy in Q four of last year,
Speaker 1: just recently. Whoever's listening to this, you're not smarter than
Speaker 1: Howard Lutnik, You're not smarter than him. He put a
Speaker 1: billion dollars in mic strates. To all these people, Well,
Speaker 1: micro strategy a scam, ponzi. Okay, you're not smarter than him.
Speaker 1: They put a billion dollars that's like forty percent into
Speaker 1: micro Strategy. On the other side, they invested into Tether.
Speaker 1: Tether is the largest stable coin company in the world,
Speaker 1: but that is putting their treasury into bitcoin as well.
Speaker 1: So we have Lutnick, Cantor Fitzgerald, we have micro Strategy,
Speaker 1: and we have Tether. Here now, in his role in
Speaker 1: the government, he's creating the SBR and a Sovereign Wealth
Speaker 1: Fund which will both be centered around bitcoin. Yep, And
Speaker 1: you're bearish, like we have this. One of the smartest
Speaker 1: guys in the world built multiple billions of dollars multiple
Speaker 1: times running the government, building these operations and having his
Speaker 1: money where his mouth is in three different companies that
Speaker 1: are benefiting from this right, and it's made. I just
Speaker 1: made this video on YouTube and I told Mauricio that
Speaker 1: I felt bad now this morning because I watched that video.
Speaker 1: I kind of said, like, hey, he's in the government,
Speaker 1: he's pumping this thing up whatever, and it maybe looked
Speaker 1: at maybe like made it look like a little scammy.
Speaker 1: I didn't for it to be that way. But after
Speaker 1: watching this video, the guy is so smart and he
Speaker 1: is a true American patriot. Like, listen to video. He's
Speaker 1: a true American patriot. And they're not doing it to
Speaker 1: pump their bags. They're not doing it for that. They
Speaker 1: realize it's the best asset in the world. Yeah, they
Speaker 1: realized history. Right, So when China in the late eighteen
Speaker 1: hundreds decided that they were going to stay with the
Speaker 1: silver standard, when the whole world went to a gold standard,
Speaker 1: she kind of lost their place in the world. And
Speaker 1: it's taken them one hundred years to come back.
Speaker 2: Yeah, with the last two minutes, there's a lot of
Speaker 2: questions I don't want to ask, but we are we
Speaker 2: are the wealthiest country because of the American dollar. How
Speaker 2: does crypto? Does crypto threat the US dollar? And then
Speaker 2: let's land the plane because I know we have stop.
Speaker 1: Well, we're not just this, We're not just the wealthiest
Speaker 1: country in the world from the US dollar. Howard Lutnik
Speaker 1: put this into perspective. So you always hear about the
Speaker 1: GDP of the country. You hear about the revenue of
Speaker 1: the country. You're about the debt of the country. As
Speaker 1: a business owner, there's still a number missing. So we
Speaker 1: have thirty six trillion dollars in debt, We have twenty
Speaker 1: nine trillion of GDP. We have six point five trillion
Speaker 1: of spending. We have four point five trillion of revenue.
Speaker 1: So you hear the revenue and spending where two trillion
Speaker 1: dollar definite? That sounds terrible, right, But as a business owner,
Speaker 1: there's one big number missing. What's the balance sheet? What's
Speaker 1: the balance sheet of the United States? Estimated between five
Speaker 1: hundred trillion to a quadrillion. That's the balance sheet. So
Speaker 1: when you have a business guy like a Lutnik coming
Speaker 1: and go, wait a minute, look at the ballance sheet.
Speaker 1: We have five hundred trillion dollars of assets. What is
Speaker 1: thirty six trillion dollar debt. We can balance the budget.
Speaker 1: The debt is miniscool. We can monetize the balance sheet,
Speaker 1: Like what are we doing here, guys? And so anyway
Speaker 1: back to it's not just this because of the currency
Speaker 1: we have the balance sheet anyway, So back to the
Speaker 1: currency question. So the dollars reserve currency of the world.
Speaker 1: I don't think anything is changing that. I did make
Speaker 1: a video recently. So the Trumpet administration, the US government
Speaker 1: is all in on creating the US dollar stable coins.
Speaker 1: And so part of the reason why is the world
Speaker 1: when I talk about the world Peru, Argentina, Lebanon, Turkey,
Speaker 1: et cetera, they desperately want dollars because their currencies are
Speaker 1: exploding all around them, but they're not able to get dollars.
Speaker 1: Their countries keep them from doing that. So US dollars
Speaker 1: stable coins have made it where they can easily get
Speaker 1: to the US dollars. So the world desperately wants US dollars.
Speaker 1: Bitcoin as much as I believe in it, and it's
Speaker 1: the ten x in front, you should be buying it.
Speaker 1: It's too volatile for the average person to be trying
Speaker 1: to be trying to live their life on it. If
Speaker 1: you have money you can put away for five years,
Speaker 1: you should put in a bitcoin. But if I have
Speaker 1: money that I'm trying to spend. I got to pay
Speaker 1: my rent next week. It's too volatile. So the world
Speaker 1: needs dollars, and I think the two complement each other
Speaker 1: in a transitional period. So the US dollar stable coin
Speaker 1: will get to the entire world. And then the government
Speaker 1: also has another problem. The government needs people to buy treasuries.
Speaker 1: So now we have vs. A V. We have the
Speaker 1: world buying stable coins. Stable coins go into treasuries. So
Speaker 1: I believe this will cementt the dollars position in the
Speaker 1: world as the reserve currency. It will only become stronger
Speaker 1: than it already is and will take over everything because
Speaker 1: even countries with their own currencies the people want and dollars,
Speaker 1: the stable coins will get it out there, and working
Speaker 1: together with bitcoin and the dollars, it will cement that position.
Speaker 1: Now we have all these things, we can store wealth
Speaker 1: in gold and collectibles and fine art and all these things.
Speaker 1: It doesn't take away from the dollar. Nobody thinks they
Speaker 1: should be storing their wealth in the dollar.
Speaker 2: It's not a store of value.
Speaker 1: So we store our wealth in other things, and we
Speaker 1: use the dollar to buy your coffee in the morning.
Speaker 1: So I don't see how it really threatens the dollar
Speaker 1: now over a long enough period of time, yes, I
Speaker 1: believe that will happen by about twenty fifty or twenty
Speaker 1: fifty five. Then there's a threat, but I think we
Speaker 1: have the next thirty years in front of us. Mark.
Speaker 2: Thank you. I could talk to you for hours, and
Speaker 2: we will put all your information, including I'm going to
Speaker 2: ask you off camera, any resources on bitcoin that someone's like,
Speaker 2: I'm sold, I want to learn more. We'll have that below.
Speaker 2: Thank you.
Speaker 1: Yeah, thank you,