Do I worry that you are going to lose money on bitcoin?

I care about you. So, do I worry that
you are going to lose money on Bitcoin?
The answer is no. I don’t worry about
that. But I want you to understand why I
don’t worry about that. And I’m going to
start with a story. So, back when I was
in the world of politics and public
policy, serving eight years in the House
of Representatives. I ran multiple
campaigns for lots of different things.
I’ve never lost a political campaign.
And I’ve spent many millions of dollars
of my own money trying to make the the
world a better place in the world of
politics and public policy. Well, there
was one specific campaign I was working
on and I needed to spend a lot more
money. In this case, about $2 million
more than I had budgeted for a campaign.
It was just the campaign was
ridiculously overbudget for a bunch of
reasons. And I was talking to one of the
best adviserss in the entire world about
what I was doing. And this person was
pro bono. They were advising me for
free. They had no economic stake in what
they advised me to do. But ultimately
their recommendation was that I spend
the extra $2 million to guarantee that
the campaign would be successful. And I
ultimately because my wife is amazing
and she said yes and agreed, we
ultimately spent the extra $2 million to
guarantee a win even though that money
effectively would just wipe out our
finances. I mean, it was going to take
an absolute wrecking ball to our
personal finances to fund that
additional $2 million on top of what we
had already put in that campaign. And I
knew that and I knew that I was
radically altering our life trajectory
by making that decision. Um, and but I
did anyway because it what I was trying
to do uh was so important to me that I
felt like it was just something it was a
hill I was willing to die on. And even
if it meant I was going to have to work
a whole lot harder for the rest of my
life. Now, Bitcoin has been very good to
me. So, my lifestyle and uh financial
means are in a much much much better
place than they would be without
Bitcoin, but that was still a brutal
financial decision to have to make back
then. Well, ultimately the campaigns
were successful. We got what we wanted.
It wasn’t necessarily exactly how we
thought we were going to get it, but we
ultimately won in the end and
accomplished our objective. And so a
couple years later, I was sitting down
with this individual who had, again,
they worked pro bono. They were an
expert at these sort of things
nationwide. And I asked them, I said, ‘W
were you ever worried that I was going
to that that that was going to be a poor
use of my capital that spending that
extra $2 million, were you ever worried
about that I that you were going to feel
bad that I had spent that money and did
not get uh the outcome I wanted? And he
said, “No.” He said, “I was never
worried during that entire campaign.” He
said, “I was never worried that your
money would be poorly spent.” And I
said, “Why? I mean, I was spending
millions of dollars in something that
had never been done before.” I was like,
“How are you so certain?” And his answer
was, he said, “Joel, I’ve been around
politics so many decades and I’ve seen
so many things that I just knew with
absolute certainty that the way you were
going about doing what you were doing
and what you wanted to accomplish. I
just knew you were going to ultimately
be successful in the end.” Again, we
didn’t know exactly how we would win, in
what way, what setbacks we might
experience, but he ultimately said, “I
knew that if you spent that extra $2
million, you were going to win. I knew
you were going to win. And he said, I
just I just wasn’t worried about it. So
why don’t I tell you the story? Well, I
tell you the story because I feel the
same way about his advice about how I
should use my capital that I feel about
my advice with regard to telling you I
think Bitcoin is a fantastic investment.
Now, this is not financial advice, not
legal advice, not accounting advice, not
tax advice, not investment advice, not
not any sort of advance investment or
financial advice. This is just one
person’s opinion, but I think Bitcoin is
a fantastic investment and I am not
worried about you losing money on
Bitcoin. And the reason for that is I
have spent thousands of hours
researching not only Bitcoin, but
researching every conceivable bad thing
that could happen to Bitcoin or to
people that hold Bitcoin to make sure
that that does not happen to you.
Obviously, I have 100% of my assets in
Bitcoin, and so it’s very important to
me that I not be wrong about that. But
it also is very important to me that all
of the people that I know and that I
love, uh, I’m not wrong about that
either. If I am wrong about Bitcoin, a
huge percentage of the people that I
know and love are going to have a
massive financial setback. I mean, a
huge number. Now, that includes all of
my siblings, my extended family. Uh I
lost both my parents to cancer. So
thankfully they will have no impact from
Bitcoin one way or the other. They are
in heaven where Bitcoin is not used
because money is not used because there
is no scarcity in heaven. And you only
need money in a world where there is
scarcity and bit and uh heaven is not a
place that there is scarcity. So my
parents right now are both in heaven as
a result of losing battles with cancer
here on this earth when I was in my 20s.
And they don’t have to worry about
Bitcoin. They don’t have to worry about
money. They’re not going to lose or gain
one way or the other. They live in a
beautiful world where money is not a
thing. But the rest of us down here, uh,
many, a huge percentage of the people I
know and love would have a massive
financial setback if something bad
ultimately happened to Bitcoin. But
again, I have spent thousands of hours
researching every conceivable aspect of
Bitcoin and every conceivable bad thing
that could happen to Bitcoin. And I have
the same level of certainty that nothing
bad is going to happen to you with your
Bitcoin investment that this um
political adviser had with me when he
recommended I spend additional capital
on the stuff I was doing in politics and
public policy. His conviction came from
a huge amount of experience and a huge
amount of knowledge. My conviction on
Bitcoin comes from a huge amount of
experience and a huge amount of
knowledge. And again, I would not go way
out on a limb like this. I would not
record 500 Facebook videos. I would not
coach and help every single person I
know on board Bitcoin. I would not give
away for free tens of thousands of
dollars of Bitcoin if I did not deeply
in my heart and soul believe I was
benefiting every single person that
heard the message of Bitcoin and took
action on it. Um, everything I do I do
for free and everything I do costs me
money. So I’m not just doing it for
free. It costs me I mean Bitcoin
advocacy has cost me a huge amount of
money because I give away so much
Bitcoin for free and I employ so many
people to help me in various aspects of
Bitcoin education and onboarding. So my
conviction is the same as the conviction
of my adviserss and mentors throughout
my life who have had advised me to do
big and bold things and have assured me
that I could safely do those big and
bold things based on the experience they
had. And again, there’s a very small
number of people I trust to make huge
decisions in the world. But those people
have been right and I have accomplished
huge things in this world and I’m
thankful I did. I’m thankful I had the
courage to do the things I have done so
far. So I think Bitcoin is a fantastic
investment. I think it’s the future, you
know, currency of the world, the future
uh reserve currency of the world. I
think ultimately most of us will end up
transacting with Bitcoin most of the
time. And I think in general um for
everyone, Bitcoin will outperform
everything else they could possibly put
their capital in. And again, that is
based on just thousands and thousands of
hours. I have read every book against
Bitcoin. I’ve read every book against
blockchain technology. Every book that’s
been written that has a negative
critique of Bitcoin or any of its
underlying fundamentals, I have read
trying to figure out if I’m missing
something to make sure that not only am
I not making a bad decision for my
finances, but that you are not making a
bad decision for your your finances. So,
I sleep great at night with complete
peace. The only way you can lose money
on Bitcoin is if you sell it for less
than you bought it for. And if you are
prudent in your financial management,
you can make sure you don’t do that. And
I am so con uh have such a deep
conviction of what the future of Bitcoin
will be that I’m just not worried that
it’s going to perform badly for you.
Again, as long as you buy as much of it
as you can and hold on to it for as long
as conceivably possible, which has been
my advice from the very beginning. If
you do that, I have a very high degree
of conviction and a peace and calm that
it will be the best thing that you do
with any type of your money or your
wealth or your uh investments.