NOTHING is wrong with BITCOIN!

Nothing is wrong with Bitcoin. At times
like this, with Bitcoin at $87,000 per
coin at the time I started recording
this with a low earlier today of $86,000
per coin. You might be wondering, is
anything wrong with Bitcoin? No,
nothing’s wrong with Bitcoin. I’m not
worried. If you are worried, I will let
you borrow some of my I’m not worried
because I’m not worried. And if you’re
scared, you may borrow some of my I’m
not scared because I’m not scared and
I’m not worried. And you’re welcome to
borrow as much of either of those as you
need to make it through this temporary
dip. So what is going on? Well, the
global market of all of everything,
stocks, bonds, real estate, gold,
silver, everything is going crazy today.
Uh because people are freaking out.
They’re worried that AI, even though AI
is obviously a huge deal, they’re
worried that AI stocks are in a bubble.
For example, Nvidia, a single company
worth more than $5 trillion, which is
the biggest company in the AI space
right now. Uh, and it makes up 8% of the
entire uh standard NP 500, S&P 500. So
the S&P 500 is made up 8% of a single
stock and the other 499 stocks make up
the remaining uh 92%. So people are
worried that’s in a bubble that the
bubble’s going to burst that uh the
stock market’s going to crash that the
global world is going to you know just
melt down. So at a time like this the
best asset to own is Bitcoin. Literally,
there’s no more. There’s no asset that
was built better for a time like this.
In fact, Bitcoin came out in 2009, and
the very first block of Bitcoin, which
is called the Genesis block. The genesis
block of Bitcoin uh has etched into it a
message from Satoshi Nakamoto, the
anonymous, pseudonymous creator of
Bitcoin. And that message says uh Times
of London 2000 uh January 3rd 2009
Chancellor on the brink of second
bailout of the banks. It was basically a
a finger pointing to the fact that
Bitcoin was intended for a world a world
that’s full of bailouts. A world where
you can’t trust anybody. A world where
everything’s going crazy. and a world
where governments print unlimited
amounts of money to bail out everybody
except the little guy. Of course, they
always start at the top bailing out
banks, bailing out bankers, uh you know,
trying to stabilize the financial system
from the top down. And of course, the
little guy at the bottom is left with
the inflation that all of that money
printing causes. Um so, Bitcoin was made
for a time like this. So, why is Bitcoin
down if Bitcoin was made for a time like
this? And the answer is because people
are freaking out. They’re trying to save
businesses. They’re trying to save
homes. They’re trying to keep from being
foreclosed on. They’re trying to keep
from going bankrupt. The companies are
trying to make payroll. And when you’re
freaking out, you sell what you can, not
what you want to. And if any of these
entities owns any Bitcoin, Bitcoin is
24/7 liquid. You can buy and sell it
anywhere in the world in any currency,
which is a huge upside, but it also
means it’s the easiest thing to
liquidate if you’re panic selling and
you there’s nothing else you could sell.
So, look, if you’re if you’re upside
down and in trouble and I only have ever
owned one home. I’ve never had a
vacation home or anything like that. I
just own one home. I travel a lot, but
I’ve only ever owned one home. Um, but
if you have a second home, a vacation
home, and you suddenly need liquidity,
meaning you got to bail yourself out
somehow, you can’t sell that property
very fast. There’s no super fast and
easy way to offload a piece of real
estate or to offload a bunch of family
jewels or diamonds, even gold. You know,
if you want to sell gold and silver, it
takes about two weeks based on my own
experience to offline uh offload gold
and silver. Bitcoin is 24/7. You can
sell Bitcoin anytime. So, when people
freak out and they panic, uh it’s like a
ship that’s, you know, that’s uh people
are afraid it’s going to capsize. They
try to lighten the load by throwing
everything overboard. Well, sometimes
they might chunk all the food overboard
and all the water overboard, the fresh
water into the ocean. And uh if you ask
somebody standing by like, “Hey, why are
you tossing your water? Uh you know,
y’all are going to die of sorry of of
thirst as soon as the storm passes.” And
the answer is, “Well, the water was on
the deck on top and it was the closest
thing, so it was just the easiest thing
to chunk overboard.” Doesn’t mean that
makes any sense. It just it was easy to
throw the food and water overboard, even
though it actually makes no sense to
throw food and water overboard. uh in a
situation like that, you ought to throw
heavy cargo that’s optional. But again,
when people are panicked, they they sell
what they can, not what they want to.
So, here’s where we are. Okay, so when
you’re asking the fundamental question
of anything wrong with Bitcoin, let’s go
back to first principles. Is the world
going to go back to barter, where we’re
trading a loaf of bread for eggs and
cheese and all that sort of stuff? No.
No modern economy can run on barter.
Period. Not by a million years, you
know, period. I mean, that didn’t mean
you can’t go to a farmers market and
trade, you know, eggs for, you know,
eggs for some cheese or something like
that, but come on. That’s like 1 one
millionth of your total family expenses.
You can’t do that at scale for any
modern anything. You can’t barter your
way to an iPhone, barter your way to a
house. Not going to happen. So, we are
going to use money. The economy is going
to use a money of some sort. And if
we’re going to use a money of some sort,
then you could literally put you could
build yourself a spreadsheet. So maybe
you’re worried, maybe you’re like, “Hey,
this whole Bitcoin thing, maybe maybe it
wasn’t a thing. Maybe I’m on the wrong
track. Maybe I’m freaking out. Whatever
else, I would say, okay, let’s think
about this. As long as we agree the
world is going to use something as
money, whether it’s the US dollar, you
know, the wind, the yen, the wand, the
euro, if we’re going to use some
government money or somebody’s something
money or bitcoin or gold or silver or
whatever, if we’re going to use
something, then from first principles,
meaning the most most basic building
blocks, you could build yourself a
Microsoft or you Microsoft Excel
spreadsheet or you could build yourself
a Google sheet and you could put
everything that could be used as money
on it. So you could make one line item
uh you know for each of the attributes
of a good money divisibility uh
divisible portable durable fungeible uh
fungeible authenticatable and most
importantly scarce. And there’s a couple
bonus ones you could put on there as
well. But the big ones are divisible,
portable, durable, fungeible, uh
authenticatable, and scarce. Those are
probably the six most important, but you
can toss one or two in extra if you
want. Okay. And then you put on that
spreadsheet or that Google sheet, you
listed everything we could use as money
as humanity, even stuff that you know
off the top of your head is not going to
work very well. So you list the US
dollar and other government currencies.
You list gold, silver, platinum,
palladium, you list diamonds, you list
real estate, even though you can’t use
real estate as money, but you know, why
not? Just add everything. Uh and
literally you list everything. you list
uh anyway everything that could possibly
be used as money including of course
Bitcoin and any other cryptocurrency you
wanted to add and then from first
principles meaning you just block out
all the noise you ignore everybody else
in the world and you say okay we’re
going to figure out where humanity is
going to gravitate for their money based
on what has superior monetary qualities
because in the world of money better
money out competes you know less good
money If you could be holding gold or
silver, eventually you’re going to turn
in your silver for gold because gold is
better, more scarce, and better money
than silver. Um, and eventually you’re
going to turn in your, you know,
Venezuelan bolivar, uh, or the Nigerian
naira. You’re going to turn those into
US dollars if you want the best
government money because again, why
would you sit on an inferior government
money if there’s a better government
money? Uh, but ultimately, the world
gravitates toward the better money. So
when you’re done running all of that
analysis in your spreadsheet where you
compare all of the attributes of good
money to everything that could possibly
serve as money in a modern economy,
absolutely hands down, unequivocally,
Bitcoin wins that race. Not it’s not
even close. It’s not even insanely like
even remotely close. Bitcoin is far more
scarce than anything else on that table.
Uh gold is second, the second most
scarce thing in the universe is gold.
But Bitcoin is significantly more scarce
uh because of its absolute supply of 21
million versus you know if gold the
price of gold goes up they just dig more
of it out of the ground and then the
extra supply that comes out of the
ground makes the price of gold go down.
So gold’s upside is always capped by the
fact that they can dig more out of the
ground. But still objectively based on
how much we have and how hard it is to
get more uh gold is the second most
scarce thing. Now gold does not work as
money which is why we don’t use it as
money. If you could send gold over the
internet if it was portable, diver
durable, divisible, fungeible uh and
authenticatable in addition to being
scarce and it has gold has some of those
properties. It is durable for example.
But if gold had was sufficiently
divisible, authenticatable
and portable uh in addition to the
qualities it already has, which is
scarcity second only to Bitcoin, then
yeah, maybe you could make that work.
But gold does not have those attributes.
So Bitcoin wins hands down. So whether
you want to evaluate everything bottom
up, top down, left to right, right to
left, no matter how you an analyze it,
Bitcoin is the better money. and the
better money will win in the end. Now,
on the way to Bitcoin winning, will
there be ups and downs? Of course there
will. There’s been more than a dozen
price corrections in Bitcoin’s history.
Uh, last I counted 18. There are 18
price corrections larger than what we’re
experiencing right now. 18. So, yeah, I
mean, it’s there’s going to be ups and
downs. Hardly any of the world like 5%
of the world owns any Bitcoin. So, if 5%
of the world owns any Bitcoin, why would
we believe that it’s not going to be a
rocky, we’re so early, early
technologies early in their adoption go
up and down a lot. It doesn’t matter
what they are, they just do. Bitcoin’s
early in the adoption cycle. Nothing’s
wrong with Bitcoin. All of the
fundamentals are solid. The underlying
properties that make it a good money are
the stronger today than they’ve ever
been in history. No other money is going
to out compete Bitcoin. And we have a
temporary price dip because there’s too
many people that are low conviction.
They don’t understand what Bitcoin is.
They bought it as a short-term
get-richqu something instead of a
long-term wealthb buildinging
opportunity and or they have emergency
needs uh due to the uh uh upheaval in
the economy. So, we’re in a dip, but
it’s so what. I mean, honestly, so what?
It’ll come back just like it has every
single time 18 other times. It’s going
to be fine. Everything is gonna be fine.
Buy as much Bitcoin as you can. Hold on
to it for as long as conceivably
possible. Same advice as always. Nothing
changes. The bottom line is the bottom
line. It always will be. We will go on
to set new all-time highs from here. We
always do. It’s not that hard. Buy as
much Bitcoin as you can and hold on to
it for as long as conceivably possible.
It really is that simple. It’s that
simple.