If bitcoin is just going to keep going up, why would you spend it on anything ever?

00:01 Hey everyone. If Bitcoin is just going
00:04 to keep going up, as I believe it will,
00:06 obviously ups and downs along the way,
00:08 but o overall keeps going up, then why
00:10 would you ever spend it on anything
00:12 ever? Uh, a couple thoughts there. Well,
00:14 one, as you know, I use the Coinbase
00:16 debit card uh for anything in my life
00:19 that costs less than
00:20 $2,500. Uh, it has a $2,500 limit, so
00:24 obviously I can’t spend it on anything
00:26 that’s more than $2,500 in a day. Um,
00:29 but for everything that’s less than
00:31 $2,500, I buy uh Bitcoin. I use I should
00:35 say I use Bitcoin to buy whatever it is.
00:37 So, if Bitcoin is just going to keep
00:39 going up forever with the ups and downs
00:41 along the way, but in the in the big
00:43 picture going up, why would you ever
00:44 spend Bitcoin on every on anything ever?
00:47 Well, the first reason is because I have
00:50 almost 100% of my net worth in Bitcoin.
00:52 The only thing I don’t have in Bitcoin
00:53 is pretty low balances in my bank
00:55 accounts. uh just so I if I write a a
00:58 check to a babysitter, it doesn’t
00:60 bounce. So I have very low bank account
01:02 balances and then obviously, you know,
01:04 the vast majority of my Bitcoin is
01:05 locked up in extremely secure, you know,
01:08 multi- signature cold storage that’s
01:10 super hard to get to and you know has
01:13 has a a massive sort of security profile
01:16 around it. Um but why would I spend any
01:18 Bitcoin at all? The answer is because I
01:21 care about living my life and I care
01:22 about my family. And the you could say
01:26 so so I don’t have US dollar cash to
01:28 spend on stuff. So the alternative to
01:31 not spending Bitcoin on stuff would be
01:33 to not buy anything at all. Well, I’ve
01:36 got to eat and my family needs, you
01:37 know, clothing and shelter and
01:39 transportation and all that, so I’ve got
01:40 to spend something. And if you keep all
01:43 of your net worth in Bitcoin, then the
01:44 only something you have to spend is
01:46 Bitcoin because there’s not any US
01:48 dollars otherwise to spend. So I don’t
01:51 keep US dollars around to spend on food
01:55 and you know transportation, housing, uh
01:58 you know uh clothing, all that sort of
02:00 stuff. Which means if I was not using
02:02 Bitcoin to buy stuff, then we would not
02:04 have clothes or food or shelter or
02:06 transportation. And obviously those are
02:08 the four things you got to have to live.
02:11 Okay. So, um, so you got to buy those
02:14 things somehow. And I don’t have US
02:15 dollars to buy those things because I
02:17 already converted the US dollars that
02:18 would have been used to buy those things
02:20 into Bitcoin. So, I’ve got to use
02:21 Bitcoin. And I like that I have to use
02:23 Bitcoin because in general over time, I
02:27 am, you know, paying less and less and
02:29 less for the things I buy than I would
02:31 be if I were using US dollars. Okay.
02:34 Now, the quandry about spending Bitcoin
02:37 on stuff uh applies no matter how you
02:40 have your money invested. So, even
02:42 though inflation eats up 4% to 9% of
02:46 your money every year, if you’re in US
02:48 dollars, you can put money in the stock
02:51 market. And then you have the exact same
02:53 quandry I have, which is let’s assume
02:55 the stock market outperforms inflation
02:58 by 2 or 3% per year. Maybe it’s just
03:00 probably in the ballpark. I don’t know.
03:01 It’s a little it’s ever so slightly
03:04 higher than inflation, whatever that is.
03:06 So, I could ask the same question of
03:07 you, which is why do you spend any money
03:10 on anything instead of just invested in
03:13 the stock market and your purchasing
03:15 power will go up 2 or 3% per year and
03:17 that exact same money can buy you 2% or
03:19 3% more stuff next year by keeping in
03:22 the stock market next year? And the
03:24 answer is because by that logic, you’d
03:26 never buy any stuff. You would not buy
03:27 any clothing, transportation, housing,
03:30 or food. and you need those things. And
03:32 also, life is short. You want to buy
03:34 other
03:35 things. There’s other things you value
03:39 that you want to buy. And you know, you
03:42 don’t want to wait. You don’t want to go
03:44 live your best life when you’re 80 years
03:46 old and live uh you know a meager
03:49 existence until then because you know
03:51 God made the world and the world is
03:52 awesome and it’s fun having you know
03:54 certain things that make life richer and
03:57 more interesting while you’re young and
03:59 while you’re still here um and you’re
04:01 not you know 80 or 90 or 95 years old.
04:04 So uh which means if you have you know
04:08 your wealth in the stock market or in
04:09 Bitcoin you’re going to have to
04:10 liquidate some of that to buy whatever
04:12 it is you need. Now, sometimes there’s
04:13 exceptions, like a couple months ago
04:15 when I bought my Tesla, uh, my 2026
04:18 Tesla Model Y Launch Series Edition,
04:21 which is what I drive now. Um, I should
04:24 say what I drive when I’m not traveling.
04:25 When I’m in the US, that is what I am
04:27 driving. Um, so, um, I could have
04:30 liquidated Bitcoin. The price of Bitcoin
04:32 at the time of the purchase was
04:34 $85,000. But thankfully, the fiat
04:37 financial system, which means the old
04:39 school government-run money system, was
04:41 willing to lend me money at 6% interest.
04:44 And so I went to Trustmark, one of the
04:46 local banks here in Mississippi. I went
04:47 to Trustmark. They gave me a 5-year
04:50 loan, 60 months, 60 months at 6%
04:53 interest. And I use that money to buy my
04:56 Tesla. And what happens every month is I
04:58 liquidate just enough Bitcoin to pay the
05:02 car payment on that Tesla. So, right
05:05 now, as this car payment comes up, uh,
05:07 comes due, Bitcoin’s at
05:09 $104,000. So, a car payment that had I
05:12 liquidated the Bitcoin at $85,000,
05:16 um, obviously it would have cost me a
05:18 lot more Bitcoin to make that car
05:19 payment than if I borrow US dollars
05:22 using the car as collateral because the
05:24 car is collateral. I mean, if I don’t
05:26 make the payments, they will repossess
05:27 the car. That’s how that works, which of
05:29 course is not going to happen because I
05:30 could pay for the whole car, you know,
05:32 right now with cash. Um, it’s not cash
05:35 cash, but I could I could liquidate
05:37 enough Bitcoin to pay for the entire car
05:39 with US dollars like right now easily.
05:42 So, um, anyway, so, you know, that
05:45 doesn’t mean I wouldn’t have to jump
05:46 through a bunch of, you know, hoops and,
05:48 you know, go tap my cold storage ultra
05:51 seccure Bitcoin, but over, you know,
05:52 over the course of a week or two, I
05:54 could jump through the hoops and, you
05:56 know, get access to enough Bitcoin to
05:58 pay off that car completely. Uh but I
06:00 don’t want to do that because the world
06:02 has been is willing to lend to me uh US
06:04 dollars at 6% interest and I believe
06:07 Bitcoin will go up infinitely more than
06:09 that and so I will just borrow them the
06:12 money to buy the Tesla from Trustmark
06:14 and I will pay them back with 6%
06:16 interest and that’s ridiculously cheap
06:19 by comparison as opposed to using
06:20 Bitcoin and I’m already getting to make
06:23 car payments with Bitcoin at 104,000
06:26 instead of 85. Now, there’s tougher
06:28 decisions. Uh the the two easy places
06:31 where the world will loan you money is
06:33 cars and houses. Uh now, I’m not saying
06:36 you should go into, you know, more debt
06:37 than absolutely necessary on either
06:39 front. I’m just saying for somebody like
06:41 me who could pay off a car, you know, I
06:45 mean, my I own all my other cars. All
06:47 the other cars I own for my wife and two
06:50 kids were all paid for with cash. Like,
06:52 I literally showed up with a check in my
06:54 hand. And so I’ve never had a car
06:56 payment in my life until this Tesla. And
06:59 the only reason I’m willing to have a
07:00 car payment for this Tesla is because I
07:02 could easily afford it regardless. And I
07:05 just want to game the, you know, the
07:07 fiat financial system of government
07:09 money. And so I’ll just borrow the, you
07:11 know, borrow the infinite money, which
07:13 is US dollar that they print more out of
07:15 thin air. And that will let me preserve
07:17 the Bitcoin money, which will preserve
07:19 its value much longer. And hopefully
07:21 over the course of 5 years, these car
07:24 payments will basically be they’ll start
07:26 feeling like they’re practically free
07:27 because the Bitcoin I’m using to pay for
07:29 them is up 500% from the price I paid
07:32 for the car. So it’ll be the equivalent
07:34 of buying a brand new Tesla for $10,000,
07:37 which is pretty great. Um, so anyway,
07:39 uh, so Cars and Houses, they will let
07:41 you borrow relatively cheap capital for,
07:44 but other things they will not. So I
07:46 actually have a quandry right now
07:48 because when I am in the US, I am
07:51 usually in Mississippi and for whatever
07:54 reason the places I stay in Mississippi
07:57 uh tend to have uh poor power, meaning
07:60 the power goes out a lot. Um especially
08:02 with the massive, you know, dying off of
08:04 a gazillion pine trees that happened uh
08:06 throughout the southeast, uh it seems
08:09 like pine tree limbs and pine trees
08:11 themselves are constantly falling on
08:13 power lines in Mississippi. uh because
08:16 they a bunch of them died all at one
08:18 time with the big drought a couple years
08:20 ago, two years ago, two summers ago. Um
08:23 so as a result of that, the power seems
08:25 to go out a lot. And so obviously it’s
08:27 convenient if the power didn’t go out.
08:29 Um so uh one solution is to get a
08:32 generator. Now a generator, not like a
08:35 little dinky one, but like a real
08:38 generator that can power my entire house
08:40 and everything in it. security systems,
08:42 the whole well the security systems have
08:44 their own battery backup. So they they
08:46 don’t really matter, I suppose, but uh
08:48 the other stuff, the oven, the air
08:49 conditioners, the you know, hot water
08:52 heater, all that sort of stuff, all the
08:53 regular comforts of life, a generator
08:56 that can power all of that stuff easily,
08:58 uh without having to be super selective
09:00 on what you turn on and what you to turn
09:02 off, and can power that from the natural
09:04 gas supply costs about $20,000.
09:08 20,000, which is a lot. So right now
09:10 that is 1/5if of one bitcoin. So I look
09:13 at that and I’m like are the
09:14 conveniences of having power worth 1/5if
09:18 of one bitcoin. Now right now they’re
09:20 not. It’s not worth 1/5 of one bitcoin
09:21 to me to have the conveniences of power
09:24 for non-essential functions. Again
09:26 essential functions security systems all
09:27 that sort of stuff. That’s on you know
09:29 its own backup power anyway. So it
09:30 doesn’t matter. But for the just the the
09:34 conveniences of life of not laying in
09:36 bed hot because the air conditioner
09:38 won’t work cuz the power’s out. uh is
09:40 not worth oneif of one bitcoin. But
09:42 let’s assume bitcoin goes up to $200,000
09:45 and now uh backup power generation cost
09:48 costs one10enth of one bitcoin instead
09:51 of 1/5if of one bitcoin. So it goes from
09:54 uh from uh uh 2 bitcoin down to just 0.1
09:58 bitcoin with bitcoin at 200,000. Well,
10:01 at that point you could make the
10:03 argument that maybe it switches. Uh,
10:06 maybe it’s worth it to me to live a life
10:08 where the power never goes out. Maybe
10:10 it’s worth onetenth of one Bitcoin. Now,
10:12 you could argue, but wait, if you buy
10:15 this generator for one/10enth of one
10:17 Bitcoin for $200,000 and one day Bitcoin
10:22 is worth $2 million, you know, like a
10:25 decade or two after that, doesn’t that
10:27 mean you practically paid uh instead of
10:30 $20,000, you paid like $200,000 for this
10:34 generator? And the answer is yes. But
10:37 what’s the alternative? The alternative
10:39 is to never live your your life and
10:41 never buy anything. And at some point,
10:44 life is short and it’s worth at some
10:47 point having things that make your life
10:50 better. For example, travel is the same
10:52 way. You can’t finance travel. So, my
10:55 family has done a relatively large
10:57 amount of international travel. Um, I
10:60 mean, we’ve been all over the place from
11:01 Ireland to Thailand to, you know,
11:04 Honduras. We’ve just gone a bunch of
11:06 places. Anyway, all of that is expensive
11:08 and none of that is finance finance
11:11 financable meaning nobody’s going to
11:13 loan my family money to go to Thailand
11:16 or to go to Ireland or to go to Honduras
11:18 or to go to, you know, any of the other
11:20 places we have been, which means we’re
11:23 funding those trips with Bitcoin at the
11:26 times we take them. And that is Bitcoin
11:28 that will appreciate in value, which
11:30 means over time those trips will get
11:33 more and more and more expensive. But
11:35 what’s the alternative? The alternative
11:36 is to not take the trips at all. And at
11:39 some point when you have enough Bitcoin
11:41 that you feel good about living your
11:44 life a bit, um, then it makes sense to
11:47 do things that involve that. Now, maybe
11:50 you only have $1,000 of Bitcoin or
11:53 $10,000 of Bitcoin. But when that
11:55 Bitcoin when you bought it at, you know,
11:57 $500 and it’s worth a,000, maybe it’s
11:60 worth buying something nice for a h 100
12:01 bucks. If you buy $10,000 of Bitcoin and
12:04 it goes up to $50,000, there’s nothing
12:06 wrong with taking a nice trip. It’s just
12:08 it’s the exact same thing I’m talking
12:09 about. It’s just a qu question of scale
12:13 uh of sort of when when does it make
12:15 sense to justify something? So, in my
12:17 case, I’ve held Bitcoin since 2017.
12:20 That’s been 8 years. The original
12:22 Bitcoin I bought is up more than 10x.
12:25 Um, so most of that early Bitcoin 2017,
12:27 2018, my average price was probably just
12:31 under $10,000, maybe $9,000, uh,
12:34 something like that. Cheapest Bitcoin I
12:36 ever bought was
12:37 6,400. But, um, but most of that early
12:40 Bitcoin was above or below 10,000, so it
12:43 averages to probably 9,000, uh,
12:45 something like that. Well, I’m okay with
12:48 Bitcoin I bought at 9,000, you know,
12:51 being at 100,000 and peeling a little
12:54 bit of money off to go take an
12:56 international trip with my family to
12:58 create memories and experiences that my
13:00 family would otherwise never have. Like,
13:02 I’m okay doing that. But again, there
13:05 there’s two ways to look at that. One is
13:06 that, but wait a second, you know, let’s
13:08 say, you know, an expensive, you know,
13:10 international trip costs with flights
13:12 and everything. I mean, flights are
13:14 insanely expensive if you haven’t
13:15 checked them recently, especially
13:17 flights to Asia. Um, so you could easily
13:19 run, you know, 10, 20, $30,000 for a a
13:24 trip. Um, again, depending on where
13:26 you’re going and how long you’re
13:27 staying, but um, even let’s let’s use a
13:29 round number. Let’s say you go on a trip
13:32 that cost you $10,000, which I can tell
13:34 you if you’re going to Asia for a couple
13:35 weeks, it’s going to be more than that,
13:36 but let’s let’s say it cost 10 grand.
13:38 Okay, so 10 grand. One way to look at
13:41 that is to say, “Wait, but I spent
13:43 $10,000 on a trip and when Bitcoin in 10
13:45 X’s, it’ll I’ll have spent I’ll have
13:48 spent $100,000 on that trip. That’s
13:50 crazy.” Yeah. But another way to look at
13:52 that is to say, I bought that Bitcoin
13:54 that I spent for 10,000 for $1,000. So,
13:57 are you going on a $100,000 trip or are
13:59 you going on a $1,000 trip? And the
14:01 answer is once you hold Bitcoin long
14:03 enough, I look at it the, you know, the
14:05 second way, which is look, I’m not
14:06 looking at or I guess the first way
14:08 depending on how you order them. I’m
14:09 looking at it through the lens of
14:10 saying, “How much did I pay for this
14:12 Bitcoin?” Because however much I paid
14:14 for this Bitcoin, that’s what I’m really
14:17 paying for this trip. The opportunity
14:19 cost in the future, that’s a future
14:22 version of me. Like, I don’t, you know,
14:24 I’m not going to save all of my money
14:25 until the day I die. Like, I’m going to
14:28 live a little bit and then I’m going to
14:30 spend most of all the money I make in my
14:32 entire life finding ways to make the
14:34 world a better place. And the vast
14:36 majority of wealth I’ve ever generated
14:38 has gone has been spent on other people.
14:41 It’s been spent on political campaigns,
14:43 public policy initiatives, you know,
14:46 donations to nonprofits. I mean, you
14:48 know, my wife and I have given away, you
14:50 know, vast amounts of money, far far far
14:53 more money than we’ve spent actually
14:54 just living our lives. But again, that
14:56 doesn’t mean we don’t live our lives.
14:58 And we view the same with charitable
14:60 giving. Like if I give a charitable
15:02 organization money right now, if I give
15:05 an organization $10,000, uh, and I know
15:08 that they’re going to spend it, of
15:09 course, what I usually do is I’ll I give
15:11 it in the form of Bitcoin, and I tell
15:13 them they have to wait at least a year
15:14 before they spend it, and ideally
15:15 longer. And my my hope is to encourage
15:18 them to create a strategic Bitcoin
15:19 reserve for whatever the organization
15:21 is. Um, but if I give the organization
15:24 $10,000 with an expectation that they’re
15:27 going to end up spending it in the near
15:28 term, one way to look at that is to say,
15:30 “Yeah, but if I had held on to that
15:32 money and it doubles, then I could give
15:34 them 20,000.” Yeah. But the other way to
15:36 look at it is, “Yeah, but what about all
15:38 the people that would have benefited
15:40 from that donation that are not going to
15:43 benefit from that donation because I’m
15:44 just sitting on it waiting for the
15:46 future?” And the way I view public
15:48 policy and uh political campaigns and
15:50 things like that is the earlier in human
15:53 history that you can effectuate a
15:56 change, the more people benefit. So
15:58 there are major changes I made it to the
16:01 legal system and uh and you know the
16:04 laws, rules, regulations, etc. of
16:06 Mississippi. There are major changes I
16:08 made in 2017, 2018, 2019 and 2020, 2021,
16:12 2022. I could have just bought Bitcoin
16:15 with all the money that it took to make
16:16 those changes and then tried to make
16:18 those changes now. But the answer is,
16:21 but I guess the problem is, okay, but
16:23 even if I had quadruple or even 10x the
16:26 amount of money to spend right now, what
16:28 about all the people that did not
16:29 benefit between 2017 and now? Am I just
16:33 going to leave all of the injustices in
16:35 the world in place with the hope that in
16:37 the future I can fix those injustices
16:40 with more money because Bitcoin went up?
16:42 And you know, at some level it’s worth
16:44 doing that to some degree. I’m certainly
16:46 not going to spend down all of the
16:48 capital I have for those purposes. But
16:50 I’m also not going to sit on it all
16:51 either because people have real needs
16:54 right now. Laws need to change. Things
16:56 need to improve. things. People can
16:59 benefit right now for things I donate
17:01 Bitcoin to. And if I just wait, yeah,
17:04 the Bitcoin goes up in value, but what
17:06 about all the people who will miss out
17:07 on that benefit between when I could
17:10 have made the donation and now? So, it’s
17:12 obviously a balance because I’m not
17:14 giving away all the Bitcoin that I’ve
17:15 set aside for charitable giving. I’m
17:17 certainly not giving away all all of
17:18 that now, but I’m certainly not sitting
17:21 on all of it indefinitely either. It’s a
17:24 balancing act to make make the highest
17:26 change I can today in the world, but
17:28 still having enough Bitcoin left over to
17:30 make the change I anticipate I will want
17:32 to make in the future. And while the the
17:34 the majority of the balance continues to
17:36 increase in value, I am certainly
17:38 peeling off Bitcoin and giving it to
17:40 various causes I care about in the
17:43 meantime. So, um, so anyway, I would
17:44 encourage you as you think about it, buy
17:46 as much Bitcoin as you can, hold it as
17:47 long as conceivably possible, and, um,
17:51 the better way to think about it when
17:52 you do spend Bitcoin is what did I pay
17:54 for the Bitcoin I’m spending now?
17:56 Because, yeah, in the future, it’s going
17:57 to be worth a lot more. But also, in the
17:60 future, so will your stock portfolio or
18:02 your bonds or your commodities or
18:04 whatever, if you sit on them long
18:05 enough, some of that will also be worth
18:08 more. But that doesn’t mean you don’t
18:09 spend anything. It just means you’re
18:11 smart about it. And that’s what I do.
18:13 And so in in the case of my Tesla, I
18:17 financed it. Um, in the case of an a
18:20 generator, I have decided for the time
18:22 being not to buy it. Um, but when
18:24 Bitcoin gets high enough that maybe it’s
18:26 it costs one/tenth of a Bitcoin to get
18:29 full power generation. it might be worth
18:31 one/10enth of a bitcoin even if it’s not
18:33 worth 1/5if of a bitcoin uh to get power
18:36 generation for uh the places I you know
18:40 usually am when I’m in the United
18:42 States. Um so anyway, there’s you know
18:45 there’s all sorts of those choices. Uh
18:47 now one thing I was I was you know on
18:49 the fence about and I did a whole video
18:51 about this is my daughter’s uh 2023
18:54 Toyota Corolla which I bought back in
18:57 2023 uh so she could have a reliable car
18:59 to drive. It was basically the number
19:01 one recommended car for, you know, teens
19:04 or whatever on Consumer Reports. Um, and
19:06 it was a hybrid, so she would, you know,
19:08 pay low gas prices for the lifetime of
19:11 it and all that. Um, when I bought that
19:13 car, it cost me 1.1 Bitcoin, and I did
19:16 liquidate 1.1 Bitcoin to buy that car.
19:19 Uh, now I’ve subsequently bought a lot
19:21 more Bitcoin. And so I guess in some
19:23 ways you could say yeah I didn’t really
19:24 liquidate a Bitcoin because I I
19:26 liquidated a Bitcoin but within a couple
19:27 months I had bought a lot more than that
19:30 back based on my increased you know
19:33 continually increasing conviction in
19:34 Bitcoin. So I did end up with more
19:36 Bitcoin. It’s not like that it’s not
19:38 like I raided my one and only stash to
19:40 buy that car. But I did buy it with 1.1
19:43 Bitcoin at the time of the purchase
19:44 before I ended up later on buying more
19:46 than that back. Um and I could have
19:49 financed that car. And in retrospect,
19:51 uh, you could make an argument that I
19:53 should have financed that car. Now, why
19:54 did I not finance that car? Well, first
19:56 of all, it was not my car. I’m okay
19:58 financing my car because I’m responsible
20:00 for it and I’m responsible for the
20:01 payments. And the only person who has a
20:03 negative consequence if I screw
20:05 something up is me. Uh, but this was not
20:07 going to be my car. This was going to be
20:08 my daughter’s car. And it was important
20:10 to me that, you know, I I not sort of I
20:15 not play the same uh I guess uh I don’t
20:19 short the Fiat financial system with my
20:21 daughter’s car the same way I’m willing
20:23 to do with my Tesla. With my Tesla, it’s
20:25 mine. It’s my payments. I feel good
20:27 about it. You know, I’m good with it.
20:29 But again, it’s not like anyone else is
20:31 dependent on that car. And if I have to,
20:33 you know, our family could make it work
20:34 with one fewer car. it’ just be require
20:37 a massive amount of coordination about
20:38 how to get four drivers, you know, with
20:41 three cars, but it’s not impossible. Um,
20:43 but anyway, so, but I didn’t want to do
20:45 that and I wanted my daughter to have a
20:47 car that was paid for that, uh, she did
20:50 not have to worry about and, you know,
20:52 it was reliable and all that. And we
20:54 looked at a bunch of used cars and they
20:55 were all like 160,000 miles and, you
20:58 know, at the time used car prices were
21:00 insanely high due to, you know,
21:03 government shutdowns with COVID and all
21:04 that sort of stuff. So anyway, so that
21:06 car cost 1.1 Bitcoin, which at the time
21:09 I recorded the video was
21:10 $108,000. Uh I I think right now it’d be
21:13 a little more than that. Uh cuz it’d be
21:15 104,000 plus another 10%. So yeah, it’d
21:18 be like $114,000 or something like that.
21:21 So yeah, that’s an expensive Toyota
21:22 Corolla. And if it had been for me to
21:24 drive, I would have financed it um and
21:27 kept the Bitcoin and then I would have
21:29 just had, you know, most of a Bitcoin
21:31 more in my total Bitcoin stash um
21:34 because I would be slowly paying off
21:35 that car over 5 years. But because it
21:37 was my daughter’s car, I didn’t want to
21:39 do that. So, I just bought it outright
21:41 with Bitcoin that I liquidated for that
21:43 purpose. Um but again, I subsequently
21:45 bought back more Bitcoin. So in some
21:47 ways you could say um you know I ended
21:49 up with more Bitcoin but uh had I
21:51 financed that car I would own let’s call
21:54 it you know.75 more Bitcoin right now or
21:57 something like that because I would be
21:58 paying off that car which was bought
22:00 when Bitcoin was you know 28,000 a coin
22:04 something like that. Um obviously the
22:07 payments would be cheap right now if I
22:08 had financed that car but it wasn’t my
22:10 car to finance. It was my daughter’s car
22:11 so I just did it. Um, but anyway, so
22:14 hopefully my thought process around all
22:16 of this is helpful. Uh, there’s things I
22:18 am buying, um, like my daughter’s car
22:21 straight up. There’s things I’m not
22:22 buying, such as this generator because I
22:25 don’t want to buy it straight up with
22:26 Bitcoin. And there’s other things like
22:28 my Tesla that I’m financing. Uh but all
22:31 of it is an effort to be prudent and
22:34 responsible with the resources that God
22:36 has given me and to uh be wise and
22:39 preserve as much Bitcoin as I possibly
22:41 can while at the same time uh not uh you
22:46 know not ending up you know head over
22:48 heels in debt or leverage to the hilt
22:51 where uh change in the price of Bitcoin
22:53 puts me upside down or something like
22:54 that. So hopefully all that makes sense.
22:56 Uh I am here for anything everyone
22:58 needs. Have a great day everyone. Reset
22:59 it.