Speaker 1: Hello, and welcome to another episode of The Mark Moss Show,
Speaker 1: where of course we're always talking about the decentralized revolution,
Speaker 1: talking about, of course the way the world is changing
Speaker 1: through the lens of politics, finance, and technology. Of course
Speaker 1: that technology is bitcoin. It's changing the world. But we
Speaker 1: like to look at all three of those disciplines, politics, finance,
Speaker 1: and technology because those are the driving forces of the world.
Speaker 1: And rather than looking at each one of them in
Speaker 1: a silo by itself, we'd look at all three of
Speaker 1: them where they converge, so we can have a better
Speaker 1: context to what is going on in the world today.
Speaker 1: And of course in those three realms, in those three disciplines,
Speaker 1: there is no shortage of information happening. We are moving
Speaker 1: at a breakneck speed. So it gives me a lot
Speaker 1: of stuff to talk about. And today we have a
Speaker 1: big show coming up for you because it has been
Speaker 1: massive fireworks going on in the political and the financial space,
Speaker 1: well yeah, and even the technological space in a sense
Speaker 1: where we've been talking about really since last year.
Speaker 2: I told you that the the.
Speaker 1: Crackdown on the cryptocurrency space was going to becoming full
Speaker 1: scale assault, and it has. I told you that Gary
Speaker 1: Gensler and the SEC had egg on his face and
Speaker 1: he was coming hard for crypto, and he has and
Speaker 1: as bad as things have gotten, all.
Speaker 2: The sudden things are turning around. This is big, big news.
Speaker 1: So we're going to talk about this anti crypto conspiracy
Speaker 1: that's been happening, how all that got set up, what's
Speaker 1: been happening.
Speaker 2: What historical parallels are.
Speaker 1: We're going to go all the way back to the
Speaker 1: eighteen hundreds and pull some historical parallels forwards.
Speaker 2: You can understand that we're.
Speaker 1: Going to talk about this new institutional adoption that's happening,
Speaker 1: who's getting involved, who the Federal Reserve is partnering.
Speaker 2: With on this.
Speaker 1: We're going to talk about, you know, the institutional backlash.
Speaker 1: We're going to talk about these different institutions, what's happening there.
Speaker 2: And then of.
Speaker 1: Course we're going to talk about what you need need
Speaker 1: to be watching and paying attention to, and more specifically,
Speaker 1: how you can be playing this to take advantage of
Speaker 1: this as is all unfolds.
Speaker 2: It's a big show. I got a lot to cover.
Speaker 2: It's exciting stuff.
Speaker 1: So I want to go ahead and just jump right
Speaker 1: in now. Like I said, talking about this anti crypto conspiracy. Now,
Speaker 1: I've been talking about this a lot as a matter
Speaker 1: of fact. You know, last year, obviously we covered the
Speaker 1: entire cryptocurrency market collapse, starting with terror Luna crashing, which
Speaker 1: then led to this domino effect of Thurero's capital, and
Speaker 1: then Celsius, FTX and buying Ince started duking it out.
Speaker 1: Look FTX would the last one standing, and then FTX collapsed.
Speaker 1: Sam Bankman freed, who is you know, pending charges, you know,
Speaker 1: defrauded about sixty billion dollars worth of money. No big deal,
Speaker 1: looking like he potentially could get out of a bunch
Speaker 1: of these felony accounts, maybe get a slap on the wrist.
Speaker 1: And I guess that's what you get for, you know,
Speaker 1: being the Democratic Party's largest largest donor forty million dollars
Speaker 1: to the Democratic Party. But that's another story for another time.
Speaker 1: But what I said after that, and I didn't make
Speaker 1: any friends from doing this, And I wasn't trying to
Speaker 1: start up controversy, nor was I trying to make anyone angry,
Speaker 1: although I certainly did. But I went and I said, look,
Speaker 1: if you understand how the cryptocurrency space works, then you'll
Speaker 1: understand why this is going to change things. And why,
Speaker 1: as I stated back then, we will not see another
Speaker 1: cryptocurrency bull run. Now I said cryptocurrency as a category,
Speaker 1: and I'm saying cryptocurrency, not bitcoin. I'm using bitcoin, and
Speaker 1: cryptocurrency is different. Now why did I say that, Well,
Speaker 1: I don't want to go all the way back through that.
Speaker 1: You can go back and listen to those those shows
Speaker 1: on the podcast, So just search Mark Moss Show on
Speaker 1: your favorite podcast player, or you can go onto the
Speaker 1: YouTube channel and search Market Disruptors on my Market Disruptors
Speaker 1: YouTube channel.
Speaker 2: You can find those on there.
Speaker 1: But basically, what I was saying is that you know,
Speaker 1: the SEC is it looks very bad, looks very very bad,
Speaker 1: and they were going to come full guns blazing and
Speaker 1: start cracking down on this and shutting it down. And
Speaker 1: certainly that's what's happened now, as I said, to not
Speaker 1: another bull run. And the reason why I said that
Speaker 1: is because if you go back to like twenty seventeen,
Speaker 1: that was kind of the real first really really really
Speaker 1: big cryptocurrency as a category bull run. It's when I
Speaker 1: started making content regarding this subject as well. Bitcoin went
Speaker 1: from one thousand dollars to twenty thousand dollars in that
Speaker 1: year of twenty seventeen ethereum, I don't remember the exact dates,
Speaker 1: went from somewhere like five or ten dollars up to
Speaker 1: I don't even remember seven eight hundred dollars. At the time,
Speaker 1: it was, it was a crazy time. But then something happened.
Speaker 1: In December of twenty seventeen, there was a choke point
Speaker 1: all of a sudden in Unison. The banks shut down
Speaker 1: access to get into cryptocurrency, the social media platforms shut
Speaker 1: down all advertised of cryptocurrency, and just like that, a
Speaker 1: ground to a halt. The entire market collapsed. Now at
Speaker 1: that time, back in twenty seventeen, early twenty eighteen, we
Speaker 1: were talking about how the Wall Street institutions were not
Speaker 1: happy that they got left out of this. So typically
Speaker 1: when you go back through technology booms, look at the
Speaker 1: dotcom boom in the early two thousands, late nineties, it's
Speaker 1: the institutions, it's Silicon Valley, it's Wall Street that gets
Speaker 1: into these deals. First, they get first crack venture capital deals,
Speaker 1: and then eventually when it goes public, you and I,
Speaker 1: the retail public, can get in and we typically get
Speaker 1: dumped on. They got in early, made the money, they
Speaker 1: dump on us, we lose money. That's how it works.
Speaker 1: But in this cryptocurrency boom, it.
Speaker 2: Was the people.
Speaker 1: It was the retail people that got the money, and
Speaker 1: all the institutions were left out. So at the time
Speaker 1: back there twenty seventeen, twenty eighteen, I started talking about
Speaker 1: how they weren't.
Speaker 2: Happy about this.
Speaker 1: Wall Street wanted to get in and they wanted to
Speaker 1: kind of shut this down while they had time to
Speaker 1: get back in. Well, it takes Wall Street institutions a
Speaker 1: lot of time to get back in. And I think
Speaker 1: there's a very interesting parallest. Let me tell you a
Speaker 1: story about this. So on HBO there's a series called Deadwood,
Speaker 1: and now Deadwood is it's a fictional story about real events,
Speaker 1: right about the gold rush, California gold Rush. So during
Speaker 1: the Dakota gold Rush, it was the regular people who
Speaker 1: got in really really early in that gold rush run
Speaker 1: and they're the ones that made the fortune. It wasn't
Speaker 1: the mining magnets, it wasn't the industrialists. And that was
Speaker 1: sort of like today there at this time that the
Speaker 1: crypto investors they got in, they were savvy speculators, right,
Speaker 1: But it wasn't that the magnets. It wasn't the industrialist
Speaker 1: that got in. Now, in this fictionalized version of Deadwood, though,
Speaker 1: there was a wealthy miner's name is George Hurst, who
Speaker 1: was the father of publishing magnate William Randolph Hurst, and
Speaker 1: he swindled all of these, you know, retail savvy speculators
Speaker 1: out of their mining shares. Now, it's not too far
Speaker 1: from the truth. According to the rumors at that time,
Speaker 1: Hurst used intimidation, misinformation, and violence to actually force people
Speaker 1: to sell their claims. He even purchased newspapers in the
Speaker 1: town to influence the public opinion. Now, if you recognize
Speaker 1: the strategy that Hirst used, does it sound sort of
Speaker 1: similar to how social media companies worked in Unison to
Speaker 1: ban all talk and all advertising of cryptocurrencies, and the
Speaker 1: banks also banned your ability to even move money in
Speaker 1: and out of these cryptocurrency exchanges. Sounds sort of similar
Speaker 1: right now. In that bid to buy in really really cheap,
Speaker 1: Hearst agents started to float rumors that the government would
Speaker 1: seize all the land in the town, and so prospectors
Speaker 1: believed the rumors and they sold their mining shares for
Speaker 1: pennies to Hearst agents. Now, the conspiracy works right first
Speaker 1: and his partners they bought the biggest mine in the region.
Speaker 2: It was called.
Speaker 1: Homesteak for a basement a bargain price of only seventy
Speaker 1: thousand dollars would be worth about one point seven million
Speaker 1: in today's dollars, and Homesteak would become the richest gold
Speaker 1: mine in US history. From eighteen seventy nine to two
Speaker 1: thousand and two, the mine produced forty four million ounces
Speaker 1: of gold and nine million ounces of silver At today's prices,
Speaker 1: that's a combined eighty six point two billion in precious
Speaker 1: metals that they paid one point seventy four And here's
Speaker 1: why I'm telling you this, because now we are seeing
Speaker 1: the same thing Gary Ginsler's crypto reign of terror. Here
Speaker 1: he comes charges against Binance, charges against Coinbase, the two
Speaker 1: largest cryptocurrency exchanges in the world, you know, saying that
Speaker 1: all these alt coins are securities, forcing popular training platforms
Speaker 1: like Robinhood Dealers, and these tokens are plunging on the news.
Speaker 2: Are they clearing the deck?
Speaker 1: If you're just tuning in right now you are listening
Speaker 1: to the Mark Ma Show. Of course, we're always talking
Speaker 1: about the decentralized revolution, we're talking about cryptocurrencies, and we're
Speaker 1: talking about so much more.
Speaker 2: I got to take a quick break. I'm going to
Speaker 2: be right back with more. So don't go away. We
Speaker 2: are back, all right, Welcome back.
Speaker 1: If you're just tune in and you're listening to the
Speaker 1: Mark Mas Show, we're talking about, of course, the decentralized revolution.
Speaker 2: I'm breaking down right now, what.
Speaker 1: Is going on with this entire anti crypto crackdown as
Speaker 1: I've been calling it, but more importantly, the turn of
Speaker 1: events that just happened that is.
Speaker 2: Blowing things wide open.
Speaker 1: And yeah, I'm taking a little parade lap, maybe giving
Speaker 1: myself a little pat on the back, because I think
Speaker 1: I pretty much nailed this one by.
Speaker 2: Again, if you're just tuned in, you've kind of missed.
Speaker 1: But you know, I'm talking about how I, after the
Speaker 1: fall of FTX, the largest cryptocurrency exchange the United States,
Speaker 1: late last year, I predicted that cryptocurrency as a category
Speaker 1: would not see another bull run, but bitcoin, I said,
Speaker 1: would do very well.
Speaker 2: Now I'm getting.
Speaker 1: Into that right now, And I was talking about this
Speaker 1: historical parallel kind of the gold Rush days of how
Speaker 1: large investors cleared the deck to allow the big boys
Speaker 1: to come in and get their share, and that's exactly
Speaker 1: what it seems like we're starting to see. So Gary Ginsler,
Speaker 1: the twenty twenty three crypto Reign of Terror, going after Buyinance,
Speaker 1: going after coinbase, labeling all coins as securities, forcing exchanges
Speaker 1: to delist them, Robinhood to delist them, all these things.
Speaker 1: Everything I said what happened has happened. These coins have
Speaker 1: plummeted in value because everyone's trying to get rid of
Speaker 1: them and there's no byside liquidity. Now I did say
Speaker 1: that I think it would be good for bitcoin. We're
Speaker 1: going to come back to that in a second. But
Speaker 1: here we have the largest, not one of the largest,
Speaker 1: but the largest asset manager in the world. We're talking
Speaker 1: about the behemoth of bohemoths. And if you don't know
Speaker 1: who I'm talking about, I'm talking about Blackrock. Now, they're
Speaker 1: not a company I typically talk favorably of.
Speaker 2: I call them the Evil Empire.
Speaker 1: They're the largest company asset manager in the world, over
Speaker 1: ten trillion dollars in AUM as they call it assets
Speaker 1: under management. And with that ten trillion dollars of assets
Speaker 1: under management, they're the largest asset manager in the world
Speaker 1: and they own a majority of almost every publicly traded
Speaker 1: company out there. If you look at almost any publicly
Speaker 1: traded company out there, you're going to find that there's
Speaker 1: they're owned by one of three companies, mostly Blackrock and
Speaker 1: then State Street and then Vanguard, and so they own
Speaker 1: almost every company. Now, I do want to say that.
Speaker 2: Where did they get this money? Where did they get.
Speaker 1: This ten trillion dollars? This is a very important piece.
Speaker 1: We're going to come back to this at the end.
Speaker 1: But it's your money. If you have a pension, if
Speaker 1: you have a four to one k a mutual fund,
Speaker 1: there's a good chance it's one of those three companies Blackrock, Vanguard,
Speaker 1: or State Street. I was explaining to this to one
Speaker 1: of my fireman buddies last week and he's like, oh, yeah,
Speaker 1: our funds with Vanguard, right, And so it's with one
Speaker 1: of those. But the thing is is like, how do
Speaker 1: they use that money? Well, they use it against you.
Speaker 1: They use it against your better interest. And as a
Speaker 1: matter of fact, they have now taken this position as
Speaker 1: activist investors, like for example, Blackrock took over control and
Speaker 1: interest to Exxon and made them dive vest from their
Speaker 1: oil fields, which is kind of weird because Exon is
Speaker 1: an oil company. Now, wouldn't that hurt their profits, you
Speaker 1: might ask, And the answer is yes, it would hurt
Speaker 1: their profits. It did hurt their profits. But they don't care.
Speaker 1: It's not their money. Their ideology over everything, which is
Speaker 1: why you see bud Light doing you know what they're doing,
Speaker 1: and you see Target doing what they're doing, and you
Speaker 1: see north Face and all these companies following suit because
Speaker 1: they don't care about the money because it's not their money.
Speaker 1: That's a whole other topic for a whole nother day.
Speaker 1: I've covered that extent in great deal on other shows.
Speaker 1: But Blackrock is the behemoth of the behemoth. They are
Speaker 1: so big, as a matter of fact, that they're basically
Speaker 1: the partner of the Federal Reserve.
Speaker 2: Yes, the Reserve.
Speaker 1: As a matter of fact, If we go back to
Speaker 1: twenty twenty, when the FED was trying to bail out
Speaker 1: Wall Street as the entire world shut down through the pandemic,
Speaker 1: the FED had to inject money into the market that
Speaker 1: it wasn't legally able to do, and so it partnered
Speaker 1: with Blackrock to purchase bonds on behalf of the FED.
Speaker 1: All right, so they are partners with the Fed. They
Speaker 1: have been working with the FED now through this banking
Speaker 1: crisis to help the FED figure out and the Treasury
Speaker 1: how to get money back into the banking system. They're
Speaker 1: helping out with Ukraine, kind of leading the charge on
Speaker 1: getting money into Ukraine. So they are partners with the
Speaker 1: feederser of their partners with the government. They are again
Speaker 1: the bohemoth of the bohemoth. Now, I want to just
Speaker 1: state that real quickly because I want you to understand
Speaker 1: the depth of this. Now, going back to this, we
Speaker 1: saw that in twenty seventeen, the CEO of Blackrock, Larry Fink,
Speaker 1: called bitcoin quote an index of money laundering. That's in
Speaker 1: twenty seventeen. And we've seen Warren Buffett and his partner
Speaker 1: Charlie Munger many times go on call it rat poison,
Speaker 1: rat poison squared, you know, all these things. We saw
Speaker 1: Jamie Diamond from you know, JP Morgan Chase said that
Speaker 1: he would fire anybody in his company that was trading it.
Speaker 1: I mean, these were some bold, bold words. Now I
Speaker 1: don't hold it against him because everybody was a skeptic
Speaker 1: at one point.
Speaker 2: But here we have Larry, the Black Rock.
Speaker 1: CEO, arguably the most I mean, I say arguably him
Speaker 1: and Jimmie Diamond might argue about it.
Speaker 2: I might.
Speaker 1: It might tip my hat to Larry Fink, of the
Speaker 1: most influential financial people in the world. And money makes
Speaker 1: the world go round, you know, as Mayor Rothschild famously
Speaker 1: said several hundred years ago, give me control over the
Speaker 1: nation's money. I care not who makes the laws. And
Speaker 1: so that's kind of where they're at. So these institutions,
Speaker 1: these Wall Street institutions, were left out. It was retail
Speaker 1: that got in the game. The retail people made all
Speaker 1: the money in the crypto boom up to twenty seventeen.
Speaker 1: They closed off the excess through the banking, they shut
Speaker 1: off the social media, and the markets crashed back down.
Speaker 1: Twenty eighteen, twenty nineteen, the markets rallied up again, but
Speaker 1: the institutions weren't ready to come back in again. As
Speaker 1: I said earlier, it takes years for them to get
Speaker 1: into position. It takes years to get all their you know,
Speaker 1: regulations in place and things like that. It takes millions
Speaker 1: or you know, billions of dollars for them to build
Speaker 1: out the products and things like that for them to
Speaker 1: come in, and so they weren't ready. Next thing you know,
Speaker 1: Bitcoin's running again. The cryptocurrency market's running again. Bitcoin runs
Speaker 1: up to almost sixty nine thousand dollars. But wait, wait, wait,
Speaker 1: we're not ready.
Speaker 2: We're not ready.
Speaker 1: We don't have we don't have our products up and
Speaker 1: running the end.
Speaker 2: We've been taking too long.
Speaker 1: So going back to the old playbook that was ranting
Speaker 1: the gold Rush days, as they kind of explained the
Speaker 1: story of Deadwood, going back to the playbook that was
Speaker 1: ran in twenty seventeen and twenty eighteen, what do we do, Well,
Speaker 1: how about if we just make everybody think that the
Speaker 1: entire space is going to zero, just like in the
Speaker 1: gold Rush days, they made them think that the land
Speaker 1: was all going to be worthless, it was gonna be
Speaker 1: taken over by the government, it was all gonna be worthless.
Speaker 1: And so everybody starts selling and guess what happens.
Speaker 2: Well, if you're guessing.
Speaker 1: That maybe the old bait and switch, maybe Blackrock, an
Speaker 1: institutional adoption, might be coming in, then you would be right.
Speaker 2: And that is exactly what's happening.
Speaker 1: Blackrock, the Behemoth of the Bohemoth is back in the game,
Speaker 1: or not back in the game. They are in the
Speaker 1: game and they are bringing the big heavy hitters with them.
Speaker 1: I want to tell you about their track record, I
Speaker 1: want to tell you about what they're doing. I want
Speaker 1: to tell you about exactly what this is doing to
Speaker 1: the market already and what you should be expecting this
Speaker 1: from this moving forward. Now, if you're just tuning in
Speaker 1: right now, of course, you're listening to the Mark Mos
Speaker 1: Show breaking down the latest breaking news on the world
Speaker 1: of finance, politics and technology. Were talking about this bitcoin
Speaker 1: etf from Blackrock. I'm going to break all this down
Speaker 1: for you, tell you what should be doing, what should
Speaker 1: be watching. I'll be back with more than that in
Speaker 1: a minute. Don't go away, We right back, all right,
Speaker 1: welcome back. If you are just tuning in, you are
Speaker 1: listening to the Mark Mass Show. Of course, we're talking
Speaker 1: about the decentralized revolution. We're talking about the way the
Speaker 1: world is changing through the through right before our very eyes.
Speaker 1: As I always like to say, the world that we're
Speaker 1: going to do is not the world that we're leaving behind.
Speaker 1: And things are moving fast, but as much as things change,
Speaker 1: they happen to stay the same. And so this playbook
Speaker 1: that we're seeing, like I said, is right out of
Speaker 1: the eighteen hundreds from the gold rush days and we're
Speaker 1: watching it being played again in real time.
Speaker 2: Now. The big news again is Blackrock.
Speaker 1: Blackrock is coming into the game, the behemoth of behemoths,
Speaker 1: the largest asset manager in the world, ten trillion dollars
Speaker 1: of money, and they now last year they launched a
Speaker 1: private trust offering their institutional US clients direct exposure to bitcoin.
Speaker 1: All right, now, a lot of people, probably the number
Speaker 1: one objection to bitcoin that I would hear typically from
Speaker 1: anybody that doesn't own it or doesn't like it, is
Speaker 1: won't they just make it illegal? Well, first off, who
Speaker 1: are they and would they make it legal?
Speaker 2: And typically, you know, there's a.
Speaker 1: Lot of ways that we could kind of counter that argument.
Speaker 1: And of course none of us know the history or
Speaker 1: I'm sorry, none of us know the future.
Speaker 2: Anything could happen.
Speaker 1: So could it be illegal, sure, But what's the most
Speaker 1: probable solution, what's the most probable outcome? And what I
Speaker 1: would typically say is that I don't think that they'll
Speaker 1: make bitcoin illegal for a number of reasons, and namely
Speaker 1: because there's too much entrenchment within the government. We have
Speaker 1: over twenty five thirty high ranking lawmakers in the government
Speaker 1: now that are bitcoiners that own bitcoin, that like bitcoin,
Speaker 1: that are pro bitcoin. We have now, I guess, with
Speaker 1: Mayor Frances Sarez throwing his hat in the ring, we
Speaker 1: have four candidates running for president on a bitcoin platform.
Speaker 2: Four presidential candidates.
Speaker 1: Running on a bitcoin platform, over thirty high ranking government
Speaker 1: officials that are bitcoin. But then what I would also say,
Speaker 1: then we have about twenty five to thirty million Americans
Speaker 1: that own bitcoin. They're not going to like that. But
Speaker 1: then what I also say is that the financial system,
Speaker 1: and so you know, the black Rocks, the gold Goldman Sacks,
Speaker 1: the JP Morgans, the Fidelities of the world have been
Speaker 1: trying to get into They've been working on getting into
Speaker 1: the bitcoin space for many years. They have been working
Speaker 1: with their regulators, They've been working with their tech teams.
Speaker 1: They've spent collectively, I'm guessing billions and billions of dollars
Speaker 1: to build out their ability to get into bitcoin services.
Speaker 1: They want to make the money, of course they do.
Speaker 1: They want the money, and so last year Blackrock launched
Speaker 1: a private trust offering institutional US clients direct exposure to Bitcoin.
Speaker 1: Fidelity Digital Assets platform allows US clients to buy, store,
Speaker 1: and sell digital assets like bitcoin. If the biggest players
Speaker 1: like Blackrock and Larry Fink. If they've spent this time,
Speaker 1: if they've spent this money to get into bitcoin, you
Speaker 1: think they're just going to let the government make it illegal,
Speaker 1: just gonna lose all that money, all that time, effort
Speaker 1: and money they've spent, all the potential future money they
Speaker 1: could make. They're just gonna let that go away. Well,
Speaker 1: you maybe don't understand the way the law actually works.
Speaker 1: So you see, we have these lawmakers in Washington, the legislators,
Speaker 1: but they don't actually write laws, they don't actually create them.
Speaker 2: What they typically do is.
Speaker 1: They sponsor a bill. But who rights the bill. The
Speaker 1: lobbyists write the bill, Then the legislators sponsor the bill
Speaker 1: and try to push the bill through, and then maybe
Speaker 1: it gets through. Now, who are the lobbyists. There's lots
Speaker 1: of special interest groups obviously at lobby but the financial institutions,
Speaker 1: the financial special interest groups are probably some of the biggest.
Speaker 2: Probably the pharmaceutical companies are the biggest. But if it's
Speaker 2: the special interest.
Speaker 1: Groups writing the bills and creating the laws, why would
Speaker 1: they write laws to shut their own business down? And
Speaker 1: the answers, of course they wouldn't, So anyway, those are
Speaker 1: typically my reasons as to why they wouldn't make it illegal.
Speaker 1: And so here we have it. You know, like I
Speaker 1: said last year, Blackrock already got in, fidelity Ge already
Speaker 1: got in. While we're seeing Gary Gensler's reign of terror,
Speaker 1: the you know, shutting down the cryptocurrency industry, you know,
Speaker 1: going after coin Base, going after Buyin ince, there hasn't
Speaker 1: been any regulatory action against Blackrock or Fidality. One thing, again,
Speaker 1: as I started out talking about, Look, we're talking about
Speaker 1: bitcoin and cryptocurrency has two different things. When we say bitcoin,
Speaker 1: we're just saying bitcoin only, and then when we talk
Speaker 1: about crypto, we're talking about everything other than bitcoin. And
Speaker 1: the reason why we say that is for a number
Speaker 1: of reasons. But bitcoin is is very different than the
Speaker 1: other whatever there is. I don't know twenty five thousand
Speaker 1: cryptocurrencies that are out there. Bitcoin is a commodity. The
Speaker 1: definition of a commodity would be something that is typically
Speaker 1: brought from the ground into the centralized manner. So whether
Speaker 1: I grow corn or dig for oil, dig for gold
Speaker 1: in the US or Africa or Canada, corn is corn
Speaker 1: oil as oil, wheat is wheat. Anybody that can buy land,
Speaker 1: can get the oil, can get the corn, can get
Speaker 1: the gold, and it's all fungible. And so bitcoin is
Speaker 1: the same thing. Anybody can buy a computer get bitcoin.
Speaker 1: There's no central issuer, so nobody there's no central issue
Speaker 1: that gives me the corn of the oil.
Speaker 2: I have to dig for it.
Speaker 1: But with all the cryptocurrencies, they all were created by
Speaker 1: a central issuer. So like Ethereum, about seventy percent of
Speaker 1: the tokens were in a pre mind. So when they
Speaker 1: created Ethereum, they created the tokens and gave them out. Anyway,
Speaker 1: I don't want to go super deep into all that
Speaker 1: right now, but we do know that the head of
Speaker 1: the SEC now Gary Ginsler, the previous head of the
Speaker 1: SEC before him, J Clayton, both said that bitcoin is
Speaker 1: a commodity, nothing else, and so we've been very clear
Speaker 1: to say, Look, this is why I said back last
Speaker 1: year that cryptocurrency as a category won't see another bull run,
Speaker 1: but I think it will be very good for bitcoin.
Speaker 2: And that's what we have.
Speaker 1: The cryptocurrencies are getting absolutely smashed, getting sold down, while
Speaker 1: Bitcoin is taking off to new all time highs off
Speaker 1: of this news, and as these crypto casinos like Coinbase
Speaker 1: like Binance are getting shut down. As I said, Fidelity
Speaker 1: Blackrock has had no regulatory action against them. Now recently
Speaker 1: Blackrock and Fidelity filed for bitcoin.
Speaker 2: E t F.
Speaker 1: All right, Now, an ETF is, you know, exchange trade
Speaker 1: of fund. It's a way that you can easily buy
Speaker 1: into a basket of stocks, you can buy into a
Speaker 1: basket of commodities, things like that. It's a way that
Speaker 1: it's a very easy way to get diverse fight access
Speaker 1: to a to an asset class, or buy something that
Speaker 1: it's not easy to custody, like oil for example.
Speaker 2: Blackrock didn't. It's not technically an ETF.
Speaker 1: It's actually technically a trust, but it functions like an ETF.
Speaker 1: So basically when you buy the ETF, they buy physical bitcoin.
Speaker 1: There has not been a physical bitcoin fund approved by
Speaker 1: the SEC. They've just shot him down over and over
Speaker 1: and over. We've seen Gray Scale get rejected, Wisdom Try
Speaker 1: been rejected, van X been rejected, R twenty one shares,
Speaker 1: bit Wise been rejected. Everyone's been rejected. But will Blackrock
Speaker 1: get rejected? Blackrock, who is like an extension of the
Speaker 1: FED and the government.
Speaker 2: Do you think they're going to get rejected?
Speaker 1: Blackrock has a pretty good trek record. As a matter
Speaker 1: of fact, they have successfully launched five hundred and seventy
Speaker 1: five ETFs and one has failed. That's a pretty good record,
Speaker 1: five hundred and seventy five to one. So with bitcoin's
Speaker 1: market cap at around five hundred and four billion ish,
Speaker 1: that's like drop in the ocean compared to the total
Speaker 1: estimated global wealth of about four hundred and sixty three
Speaker 1: trillion four and sixty three tries. If just five percent
Speaker 1: of that were to flow into bitcoin, it'll go up
Speaker 1: forty seven times, which is why black Rock and Finale
Speaker 1: they're creating these crypto custody solutions for their clients because
Speaker 1: they want a slice the pie. And just like the
Speaker 1: story I told of the gold Rust, just like Hurst,
Speaker 1: they'll use intimidation, They'll use misinformation to force smaller crypto
Speaker 1: players out of the game.
Speaker 2: They want you to think that it's.
Speaker 1: All being shut down. And I'm going to be honest,
Speaker 1: you know, even though I've been very clear about why
Speaker 1: I think it wouldn't get Bitcoin wouldn't be made legal
Speaker 1: in the United States.
Speaker 2: Again, I don't know the future.
Speaker 1: Like I come up with things based off of, you know,
Speaker 1: understanding the information that I have available to be bad
Speaker 1: onto the future as aggressive they are getting and super aggressive.
Speaker 1: The Biden administration specifically is very anti technology, and especially
Speaker 1: with the passing them something like the restrict Act make
Speaker 1: starts to make me think, man, the United States could
Speaker 1: get very very crazy and ban this. But now watching
Speaker 1: what's happening here makes the chance of that happening very
Speaker 1: very low. Now, if you're just tune in, you are
Speaker 1: listening to the Mark Mass Show, we're talking about.
Speaker 2: The big, big, big big news.
Speaker 1: In the bitcoin cryptocurrency space. Now, I got more to cover.
Speaker 1: When I tell you what you need to be watching
Speaker 1: and how you can play this, I'm going to cover
Speaker 1: that when I come back.
Speaker 2: I'm gonna take a quick break. We were back. Don't
Speaker 2: go away, all right, welcome back.
Speaker 1: If you're just tune in, you're listening to the Mark
Speaker 1: Mass Show. We're talking about what's been going on in
Speaker 1: the cryptocurrency and the bitcoin space, specifically with as I
Speaker 1: called it, Gary Ginsler's reign of terror, coming hard against
Speaker 1: the cryptocurrency space and kind of taking a little bit
Speaker 1: of a parade lap, tapping myself on the back because I.
Speaker 2: Told you so. I called it.
Speaker 1: I told you last year that I said that cryptocurrency
Speaker 1: adds a category. Wouldn't see another bull run because they
Speaker 1: were going to come after it so hard and heavy.
Speaker 1: But I said that's cryptocurrency's category. I said that bitcoin
Speaker 1: would do very well. And here we have it, just
Speaker 1: as it looked like cryptocurrency was going to be dead
Speaker 1: in the water and Bitcoin be dead in the water,
Speaker 1: we are seeing the bait and switch. And I kind
Speaker 1: of used the reference, the historical reference to the gold
Speaker 1: Rush days when news magnet Hurst kind of basically, I
Speaker 1: don't know, used misinformation, used persuasion, used threats to get
Speaker 1: people to sell their land for pennies on the dollar
Speaker 1: while he made billions and billions of dollars. And that
Speaker 1: seems to be sort of like what has happened while
Speaker 1: we had you know, Black Rock, Larry Fink, Well, we
Speaker 1: had Jimmie Diamond from Jamie Morgan, Chase and Warren Buffett,
Speaker 1: Well we had all them talking really really really bad
Speaker 1: about bitcoin. Well, we had Gary Gensler and the SEC
Speaker 1: talking making making it really really scary for bitcoin and
Speaker 1: cryptocurrency advocates. They just weren't ready to get in, and
Speaker 1: now they are, and now they're here and now they're
Speaker 1: taking over. And we can see now that just since
Speaker 1: this has been announced, Bitcoin has.
Speaker 2: Been shooting up to the moon. As a matter of fact,
Speaker 2: it is up big.
Speaker 1: We are up to where are we at here at
Speaker 1: the time of this thirty thousand we are up in
Speaker 1: just since the news broke. Where we at It's oh cool,
Speaker 1: twenty three percent. Twenty three percent just since the news broke.
Speaker 2: No big deal.
Speaker 1: It's actually it's a really big deal. If we go
Speaker 1: back to where we at January, we go back just
Speaker 1: to the start of this year, Bitcoin is now up a.
Speaker 2: Cool ninety percent.
Speaker 1: I means you would have almost doubled your money, pretty
Speaker 1: much doubled your money if you would have bought it
Speaker 1: at the beginning.
Speaker 2: Of the year.
Speaker 1: No other asset class has done this. Bitcoin's been averaging
Speaker 1: a two hundred percent compounded annual growth rate since its inception.
Speaker 1: Now that average is that sometimes it exceeds it, sometimes
Speaker 1: it goes under that. We're up one hundred percent this year.
Speaker 1: As the Fed has been going on the hardest and
Speaker 1: most aggressive rate hiking cycle that we've seen in history.
Speaker 2: Everybody says, oh, we don't know how bitquin will do
Speaker 2: in a bear market.
Speaker 1: Well, we're certainly finding out. Now, what do we do
Speaker 1: with all this news that we have? Now, okay, what
Speaker 1: do we do? That's the key question that you should
Speaker 1: be asking yourself. So, like I said, we've seen this
Speaker 1: movie before.
Speaker 2: Okay.
Speaker 1: In twenty twenty one, Bitquin reached an all time high
Speaker 1: of nearly seventy thousand dollars right then, Gary Ginsler, you know,
Speaker 1: started as Reign of Terror, and since then it plunged
Speaker 1: all the way down to just below sixteen thousand, about
Speaker 1: fifteen to eight. Now, I know a lot of you
Speaker 1: have been watching these guys on YouTube. I tell you
Speaker 1: that it's going to drop down to thirteen thousand or
Speaker 1: twelve thousand, and so.
Speaker 2: You're gonna wait.
Speaker 1: You're gonna wait until it gets to thirteen thousand. Well,
Speaker 1: now it's up to thirty. So you never got your
Speaker 1: chance at thirteen. And now the questions I'm getting our mark.
Speaker 2: Well, now it's up to thirty.
Speaker 1: Should I buy now or should I wait? Is it
Speaker 1: going to come back down? The answer is nobody knows.
Speaker 1: Nobody knows the future.
Speaker 2: God knows, I don't know, you don't know.
Speaker 1: There's nobody else in the world that knows. Okay, So
Speaker 1: right now it's up to thirty thousand. But who benefits
Speaker 1: This is the question we should be asking ourselves, who
Speaker 1: benefits the most from this crash when the next bull
Speaker 1: cycle starts. Well, let's see Blackrock Fidelity. They didn't want
Speaker 1: to get into seventy thousand. They wanted to get in
Speaker 1: it fifteen thousand, they wanted to get in it twenty thousand.
Speaker 1: So when it goes up to one hundred thousand, they'll
Speaker 1: be up five x. They'll be benefiting you. You'll probably
Speaker 1: still be scared sitting on the sideline or waiting for
Speaker 1: it to still drop back down to thirteen thousand.
Speaker 2: They won't. They don't care about that.
Speaker 1: They'll be buying now. Could it drop to thirteen thousand?
Speaker 2: Is it possible? Sure? Is it possible it could drop
Speaker 2: to five thousand?
Speaker 1: Yes?
Speaker 2: Is it possible it could drop to one dollar? Yes?
Speaker 1: You have to understand everything is possible.
Speaker 2: Right.
Speaker 1: Aliens could come to the earth and destroy it tomorrow.
Speaker 1: That's possible, But is it probable? No, most likely, there's
Speaker 1: like almost no chance that aliens will come destroy the
Speaker 1: earth tomorrow. But it's possible, but there's almost no chance. Right,
Speaker 1: So instead of thinking about everything, that's possible. You have
Speaker 1: to think about what is probable. You have to think
Speaker 1: about things in terms of probabilities. So is it.
Speaker 2: Possible for bitcoin to go to thirteen thousand? Yes? Is
Speaker 2: it probable? Not in my experience or not in my
Speaker 2: base case. It's not what I'm thinking. So how do
Speaker 2: you play this?
Speaker 1: We'll think about it like this. Do you think that
Speaker 1: the largest asset manager in the world coming into bitcoin
Speaker 1: will push the price up or do you think the
Speaker 1: price will go back down? Now, if you think it's
Speaker 1: going to go back.
Speaker 2: Then are you.
Speaker 1: Are you ten percent sure? Are you fifty percent sure?
Speaker 1: Are you ninety percent sure? Let's say that you're fifty percent,
Speaker 1: I'm fifty to fifty. Let's just say I'm fifty percent
Speaker 1: sure it's going to come back lower.
Speaker 2: But there's a fifty percent chance percent chance it doesn't
Speaker 2: go lower.
Speaker 1: It could just keep going higher, Okay, Or it's seventy
Speaker 1: thirty or thirty seventy or ten ninety, whatever your number is.
Speaker 1: Think about this, what percentage chance do you think it's
Speaker 1: going to go down? And what percentage chance is it's
Speaker 1: going to go up? And that's how you play it. So,
Speaker 1: for example, for easy numbers sake. Let's say I had
Speaker 1: ten thousand dollars I wanted to put into bitcoin. Well,
Speaker 1: there's a fifty to fifty chance that it goes down,
Speaker 1: fifty goes up. Okay, then what I'm going to do
Speaker 1: is of my ten thousand, I'm going to take fifty
Speaker 1: percent of that or five thousand, and I will put
Speaker 1: that in now, and then the other fifty percent I'm
Speaker 1: going to wait because I think i'd go down, So
Speaker 1: I'll wait and I'll buy more if it goes down. Now,
Speaker 1: if I'm wrong it doesn't go down, i have to
Speaker 1: buy at a higher price. That's the risk I'm going
Speaker 1: to take, and that's how you might want to play that.
Speaker 1: Another way to do it is through dollar cost average.
Speaker 1: You can put the five thousand down now and put
Speaker 1: the other five thousand. You can put in one thousand
Speaker 1: or five hundred dollars every two weeks, and you can
Speaker 1: average in a couple other ways you can do this is,
Speaker 1: of course, you can go buy bitcoin directly, and that's
Speaker 1: kind of what I'm advocating. That's what i'd recommend. I'd
Speaker 1: recommend using a platform like swan Bitcoin. You can use
Speaker 1: a swan Bitcoin slash Mark Moss and get ten dollars
Speaker 1: free bitcoin for using that, and you can set up
Speaker 1: an auto buy so like every other week it can
Speaker 1: just buy one hundred dollars and put it right in
Speaker 1: your cold storage swan bitcoin dot com slash Mark Moss,
Speaker 1: get ten bucks and set that up really easy to
Speaker 1: take self custody. That's how I recommend doing it. I
Speaker 1: recommend using a cold storage while at something like a
Speaker 1: treasor tr z r make it super easy. Now, if
Speaker 1: you don't want to buy it and take self custody,
Speaker 1: another way you can do it is maybe just buy
Speaker 1: micro Strategy Stock. That's mstr now. MicroStrategy Stock is a
Speaker 1: tech company that's pretty much changed, taking all of its
Speaker 1: entire value and put it.
Speaker 2: Into bitcoin now.
Speaker 1: It has three main advantages over buying micro Strategy versus
Speaker 1: buying bitcoin directly. One, it's cash flow and generating business
Speaker 1: that you're buying. Two, it doesn't charge any shareholder management
Speaker 1: fees like Blackrock will. And three you're not giving Blackrock
Speaker 1: any more of your money. Don't give Blackrock your money,
Speaker 1: take your money away from Blackrock. So those are a
Speaker 1: couple of ways that you can play it.
Speaker 2: Now. The other thing that I would hear, well, they're
Speaker 2: going to make it illegal. I think we're past that
Speaker 2: now at this point. Is but it's volatile.
Speaker 1: Well, currently Bitcoin has been about as volatile as Google, Amazon,
Speaker 1: and even Crudal in the same timeframes. As it stands
Speaker 1: right now, Bitcoin isn't really any more volatile than big
Speaker 1: cap tech stocks. So you make up your mind that's
Speaker 1: what you should be watching. That's how you can be
Speaker 1: playing it. But one way or another, in my opinion,
Speaker 1: the probability, not the possibility, but the probability of Bitcoin
Speaker 1: being made illegal has dropped significantly and in my opinion,
Speaker 1: has a very low probability or slim chance of ever happening.
Speaker 1: So I'd be getting that Bitcoin position while you still
Speaker 1: can at the price you can. Now if you're just
Speaker 1: tuning and you're listening to the Mark mass Show breaking
Speaker 1: down you know, politics, finance, and technology, talking about the
Speaker 1: combination of those three what I called the decentralized Revolution.
Speaker 1: I've been breaking down what happened with the bitcoin crypto
Speaker 1: currency ecosystem and what's.
Speaker 2: Happening with bitcoin.
Speaker 1: If you missed it, catch it out on the podcast
Speaker 1: just search the Mark Moss Show. Follow me on Twitter
Speaker 1: at one Mark Moss and that's what I got. Thanks
Speaker 1: so much for listening.
Speaker 2: The next time,