00:01 Hey everyone, let’s talk about how I
00:03 feel about Bitcoin right now. Uh the
00:05 short take is the price me everything
00:08 else fabulously great. Which is why in
00:11 investing you’ve got to be able to focus
00:14 on things other than price. So, every
00:16 single one of the highest performing
00:19 assets in the world, let’s call them the
00:21 magnificent seven stocks, which is a
00:24 Amazon, Apple, Facebook, uh, Google,
00:28 Nvidia, Tesla, and there’s maybe one or
00:32 two others in there I’m forgetting.
00:34 Every one of those went through periods
00:36 where as a company, the everything but
00:39 the stock price was going amazingly
00:42 well. And the best time to buy any of
00:45 those assets were when everything else
00:47 was going amazing except the stock price
00:49 because the it meant that the stock
00:51 price did not reflect the underlying
00:54 fundamentals of the business. So in the
00:57 case of Bitcoin, it’s not a business.
00:59 You don’t want your money to be a
01:00 business. Uh in fact, the more it acts
01:02 like a business like the Federal Reserve
01:05 where their job is to print money out of
01:06 thin air and therefore devalue the money
01:09 in your pocket, that’s not what you
01:11 want. You want something that nobody can
01:12 do that to. So what are the fundamentals
01:16 of the um of a of a good money? It is
01:19 attributes like divisibility,
01:21 durability, fungeability, verifiability,
01:24 scarcity, which is the most important
01:26 one as well as um you know
01:29 authenticatability and there’s a variety
01:31 of others. There’s usually between five
01:32 and eight characteristics of a ideal
01:35 money depending on sort of which
01:36 researcher you talk to. So, Bitcoin is
01:39 an rock star in all of those. The
01:41 security of the Bitcoin network is the
01:44 highest it’s ever been. The
01:45 decentralization of the network is
01:47 amazing. The fees on the network are,
01:51 you know, very low right now. You can
01:52 transact on the Bitcoin network any
01:54 amount of money for a very, very low fee
01:58 of less than 25, which literally you can
02:01 move a billion dollars right now
02:02 anywhere in the world for like 25 cents,
02:04 which is incredible. So everything about
02:06 the fundamentals fundamentals that make
02:09 Bitcoin amazing are the strongest
02:12 they’ve ever been. So what’s not the
02:13 strongest it’s ever been is the price of
02:15 a Bitcoin. Well, why is that? Well,
02:18 because on top of the fundamental
02:21 adoption, the core adoption of people
02:23 who actually need Bitcoin, value
02:26 Bitcoin, and understand Bitcoin, you
02:28 have a bunch of speculators on top of
02:29 that, which is the case in every single
02:31 market. In every single market,
02:33 including every one of those stocks that
02:35 I mentioned, you have the true
02:37 believers, the people who are reading
02:39 the quarterly reports that are following
02:42 blowby-blow every single thing that is
02:44 happening with that asset. You have
02:46 those people and those people are uh
02:51 going to hold on to that asset class
02:52 absolutely no matter what. If you talk
02:54 to somebody who is super into Tesla or
02:57 Amazon or Nvidia, they’re not selling
02:59 that stock no matter what. they have an
03:01 incredibly high conviction which means
03:03 the price is not going up and down based
03:05 on them because they are ride or die
03:09 holders of that stock. Um or in the case
03:12 of Bitcoin there is a huge cohort tens
03:15 of millions even hundreds of millions
03:17 that are ride or die Bitcoiners. They
03:20 believe in Bitcoin. They understand
03:22 Bitcoin. They value Bitcoin and they
03:25 understand that the future monetary
03:26 system of the world is Bitcoin. Those
03:29 people are not selling and buying
03:31 Bitcoin on a daily basis, weekly basis,
03:33 monthly basis, or even yearly basis.
03:35 They are only selling Bitcoin when they
03:37 have to buy something to make the lives
03:40 of themselves and their families better.
03:42 And they’re buying more Bitcoin every
03:44 opportunity they get. That is how that
03:46 works. Um, so as a result, uh, you get
03:50 the ride or die crowd that owns any
03:53 asset and then you get a bunch of
03:54 speculators on top of that who only
03:56 bought the asset cuz it was going up and
03:59 then as soon as it starts going down,
03:60 they sell the asset. So that’s what’s
04:01 happening in the world of Bitcoin right
04:03 now. Nobody uh the the the fundamental
04:06 value of Bitcoin has not gone down. it
04:09 has only gone up. Which means the price,
04:11 which is about $82,000 per coin right
04:13 now, is only suppressed because the the
04:17 speculators and the people who were not
04:18 real, the tourists, uh the fakers and
04:22 the phonies, everybody who had no idea
04:24 what Bitcoin was, but they saw that it
04:26 was the best performing asset last year
04:28 and they wanted a piece of that
04:29 performance and they bought some and
04:32 then some group of them spooked by all
04:34 these tariffs and whatever else and now
04:37 they’re, you know, the rats fleeing the
04:39 ship.
04:40 is the way they feel. Um the truth is
04:42 they don’t understand that, you know,
04:44 they’re headed for ice water, right? And
04:45 the ship is not sinking. Uh so anyway,
04:48 that is where we are. And so Bitcoin’s
04:50 on sale. So the way I feel about
04:53 everything right now is I’ll go item by
04:55 item. The fundamentals of Bitcoin,
04:57 divisibility, durability, portability,
04:59 fungeability, scarcity,
05:01 authenticability,
05:03 um all of the fundamental elements of
05:05 Bitcoin as a money I feel fantastic
05:08 about. it’s really as good as it could
05:10 possibly be. Um, and if I mean there’s
05:13 just no way to improve it without
05:14 breaking something or making it, you
05:17 know, making it so good and so private
05:20 that criminals would use it. And right
05:21 now, Bitcoin is as private as it can
05:23 possibly be without being a good tool
05:26 for criminals. And it is as cheap to
05:29 transact on the Bitcoin network as
05:31 possible without being so cheap that
05:35 there’s too little incentive to mine
05:36 Bitcoin, which is the way that the
05:38 network secures and uh secures itself.
05:41 So you combine and it’s like if somebody
05:43 asked me to change something about
05:45 Bitcoin right now, I would not change
05:47 anything about Bitcoin right now. Again,
05:49 other than the price, but the price
05:51 really in the long term is a function of
05:53 adoption.
05:55 In the short term, it’s a function of
05:56 speculation on top of adoption. But in
05:59 the in the long term, it is the price is
06:01 reflective of actual adoption. Because
06:03 over time, the percentage of true
06:07 adopters, real adopters, true believers,
06:11 the ride or die types, the percentage of
06:13 those people that are the holders of
06:15 Bitcoin gets higher and higher and
06:17 higher with time. and the therefore the
06:19 percentage of holders that are
06:21 speculating and are pure speculators
06:24 um and don’t know what they hold and are
06:26 basically emotionally driven that
06:28 percentage goes down as a percentage of
06:30 the whole over time. So on all of the
06:34 fundamentals I feel fantastic about
06:35 Bitcoin. On the price I feel meh. It’s
06:38 annoying that the price is only $82,000
06:41 a coin. Obviously, that’s a massive
06:43 blessing for everybody who is
06:44 desperately trying to stack as much
06:46 Bitcoin as they possibly can at cheap
06:48 prices. So, good for you, good for them.
06:51 Uh, cheap prices benefit everyone who is
06:54 not already loaded to the gills on
06:57 Bitcoin. Um, and for somebody like me
06:59 who is already above 99% of my liquid
07:03 assets in in Bitcoin, literally 99% of
07:06 any assets that I control that I could
07:09 invest in Bitcoin are already invested
07:11 in Bitcoin. Obviously, that’s a bit
07:12 frustrating because I’m like, dang,
07:15 where’s where’s some more US dollars I
07:16 could use to buy more Bitcoin? And the
07:18 answer is when you’re above 99%, it’s
07:20 really hard to find any additional
07:22 dollars to put in Bitcoin. And that
07:25 includes 100% of my 401k, 100% of my
07:29 IRA, 100% basically 100% of anything
07:32 that could be put in Bitcoin on the in
07:34 on the retirement side is in Bitcoin.
07:37 And which leaves the only part that’s
07:38 not in Bitcoin, about 1% of my liquid
07:41 assets. Uh that’s basically in non-
07:44 Bitcoin stuff in case Bitcoin dips and I
07:47 don’t want to sell Bitcoin at a
07:49 discount. So it’s in other stuff. uh
07:51 mostly Tesla. Most of what’s not the
07:54 less than 1% that is not in Bitcoin is
07:57 mostly in Tesla. Um which I would argue
07:60 is, you know, objectively a worse
08:02 investment, but it does give me 1%
08:05 diversification, which feels like it’s
08:07 at least somewhat responsible for
08:09 somebody who’s got tuition payments uh
08:12 coming up for my wife and my daughter.
08:15 My wife in grad school, my daughter and
08:17 who starts college in the fall. So, I’ve
08:20 got a little bit of a non- Bitcoin
08:22 reserve in case Bitcoin dips on the
08:24 exact day that I’m supposed to be
08:26 banking tuition payment. I’ll at least
08:28 have the opportunity to pull that from
08:29 somewhere else. But I do feel like this
08:32 is a movie where I’ve seen the end. I
08:33 feel like I’m in a theater with a bunch
08:35 of people. They’re all, you know,
08:38 they’re all afraid that this movie is
08:40 going to end with the the beloved main
08:42 character not making it. And I’m sitting
08:45 there, having seen this movie so many
08:46 times that I’m like, it’s a very happy
08:48 ending. and the good guys win and you
08:51 know the couple falls in love and the
08:53 main character lives and all this sort
08:55 of stuff, but it’s like there’s no way I
08:57 can communicate to that to everybody
08:59 other than like Facebook videos. So, um,
09:02 everybody who’s been in Bitcoin a long
09:04 time knows that in the end, Bitcoin
09:06 always wins. But for everybody who’s new
09:08 to Bitcoin, they don’t know that yet
09:10 because this is the first time they’ve
09:11 seen the movie. And so price dips like
09:13 this are scary. They’re scary because
09:15 they haven’t seen this movie before and
09:17 it makes them nervous and they wonder if
09:18 they’re the last one in. They wonder if
09:20 Bitcoin recovers this time or if they
09:22 bought Bitcoin on its very last rally
09:25 before fading into irrelevance. Well, I
09:28 can assure you that’s not the case. Um,
09:30 Bitcoin ultimately does win in the end,
09:33 becomes the future monetary system of
09:34 the world, and everyone who owns Bitcoin
09:36 is way better off. That is just how
09:39 things are going to play out based on
09:40 the fundamentals of how money works, how
09:42 the government prints money, and how
09:44 humans eventually uh catch on to the
09:47 fact that it’s better to own a money
09:48 that the government can’t print out of
09:50 thin air than to own a money that the
09:52 government can print out of thin air.
09:55 And eventually, everybody figures that
09:57 out little by little, worldwide, person
09:59 by person, they all eventually figure
10:01 that out. It just takes decades. And we
10:04 are in that multi-deade process right
10:06 now. Uh, so I feel like I’ve seen the
10:09 end of the movie. I feel like, you know,
10:11 it’s a great time to buy Bitcoin. But I
10:13 also understand that a lot of people who
10:15 are new to Bitcoin, they don’t feel that
10:17 way because this is their first price
10:18 dip or maybe their second price dip. And
10:20 they still just don’t have the
10:22 conviction that people like I do who
10:24 have been in this a long time and know
10:27 that it always ends with Bitcoin
10:29 eventually setting a new all-time high.
10:31 So, if I can be of assistance on your
10:33 Bitcoin journey, I am always here for
10:34 anything you need. Feel free to message
10:36 me. Uh, load up on as much Bitcoin on
10:39 sale as you possibly can. And if I can
10:41 answer any questions for you that would
10:42 help build your knowledge and conviction
10:45 about Bitcoin, uh, please let me know.
10:48 Uh, also, I’ve got a couple super busy
10:49 weeks coming up here uh, in the world of
10:51 Prosper and otherwise. So, um, hopefully
10:54 I’ll have a chance to do some videos,
10:56 but it’s going to be a whirlwind for the
10:59 next couple weeks of professional work
11:02 and just a bunch of stuff. So, I’m going
11:04 to try to do videos, but I can’t make
11:06 any promises for the next couple weeks
11:08 because, uh, in the ups and downs of the
11:11 intensity of all the things I got going
11:13 on, uh, I’m about to hit one of those
11:15 waves of high intensity again. But, I’ll
11:18 still try to put out whatever content I
11:19 can, but it might be a little light for
11:21 the next couple weeks, but, uh, I’ll be
11:24 right back on top of it as soon as I hit
11:25 another dip in my own insane, uh, too
11:29 much going on. So, but if I can be of
11:31 assistance to you, please let me know. I
11:33 am always here to serve. Thanks and have
11:34 a great night.
