Transcript
me all of that stuff with the basent his comments were going to grow our way out of this.
We are no more going to grow our way out of 40 trillion of debt than I'm going to
fly to the moon tonight. Like it's just not happening. So I ran a space a couple of nights ago and
I had Grand Cairdon was very generous with his time. He was on stage, more or less the whole space.
and Grand was putting some truth during that space that I think Bitcoiner should listen to.
He said, let the matter like why are Bitcoiners holding spaces talking about
this doesn't look good and that doesn't look good in the center. Let the matter let them print
let them run away with the debt because we've escaped that world. So if you've allocated
it the way I think a bit corner should have allocated through this bear market. Let them
add it. Let them print. What does it matter because if there's one thing I've figured out,
the show is going to keep going on. It's going to keep going on. Nothing is collapsing. The
dollar is not going to collapse. Nothing is going to change. They're just going to print a bunch
of money. They're going to find some way to pull magic levers that it doesn't affect Americans
too badly and the show just keeps going. Grand spoke about it much better than I can recall but
basically he said the show must go on. It's little and no olden quote. Nothing stops this train.
He don't want to start the train because as long as that train's moving that's what the
Contellion effect is. They want to keep the train moving. There's zero willingness to balance
a budget. There's zero willingness to reduce that debt. That's what the game is. We're in this
K-shaped economy. You make your money. You put it towards assets and you wait. That's a game.
I'm kind of at odds with other bit corners that are saying, I have to overthrow this system.
Bitcoin won't have realized its value proposition until it overthrows the bullshit.
Bullshit. I'm starting to realize as well. I'm calling Bullshit on Jeff Booth.
Jeff Booth says these systems can't coexist. Yes, they can. They're coexisting quite nicely as
it is right now. Bitcoin's making moves. Look, that's where I stand. This notion within Bitcoin
is that there is no such thing as success as long as the federal government is still installed,
as long as the banks are still there. What are we doing? Are we playing Dungeons and Dragons at
eight years of age? We're not going to overthrow the federal government on the banks and the
institutions with a bunch of cold storage wallets that we can't trust. I mean, that's just
I'm very much aligned with a British huddle. By the way, I think that one of the most significant
moves this summer was I think that cold-carried thing was very telling. It was a slap on the face
for anyone who says, oh yeah, this is simple. I'm not technically. I sat down and did it in 10 minutes
and my wealth is secured. No, it's not. Very few people were able to verify the wallets
that they were recommending. The other thing was Bitcoin 10. The significance of that Bitcoin 10
being defeated, being crushed the way that it was crushed. It wasn't just a 60, 40 defeat.
That was a, oh man, that was a kind of thinking in American football analogy. I'm not an American
football fan, but man, that was a crushing defeat. That was a public humiliation
that Bitcoin hands things. So look, all told the term big Bitcoin has been bounded around.
I'm big Bitcoin. I believe in Bitcoin. I believe in entrepreneurship around the
asset. I believe that the asset, sure, you can go out and use it to bake coffee if you like. I'm
not going to tell you what to do with your money, but I'm not going to do that because I see this
it's too pure. It's got too much upside. So I'm not going to waste it on bank coffee. What I'm
going to do is I'm going to hold it as a store of value. I think there's going to be a lot of
stuff built around it. I know some people turn up their nose at the way Sealer talks about digital
credit and digital collateral and that type of stuff. But like the turn in study, what the man is
saying before shooting it down because I believe that's the future of Bitcoin. One of the future
for Bitcoin is to be the collateral, to be the underlying asset of a lot of different products.
So look, I'm very, very much in favor of what Strayer we're doing, what strategy has done.
I think it's no coincidence that just about everyone came at strategy and May and June.
Tradify came for them, Bitcoiners came for them, their own shareholders came for them.
It was almost mutiny at one point. People would have told you it's going to zero.
Sealer is getting liquidity. Yari, yari. I think it's no coincidence that strategy has studied the
relationship and we see a move in the underlying asset. I really don't think that's coincidental.
And by the way, stretch tonight, I just had to look 90 dollars. So it's within two dollars
could get there tomorrow. My thought would be one more defensive move from strategy.
Maybe adding a little bit more to that catch reserve and I'm seeing it on Monday morning.
I think that's the catalyst and by Monday morning, stretch is back at work. That's the money maker.
That's the product that goes out, sniffs out the capital, brings it home, converts it to Bitcoin.
That's the flywheel, right? And all of the negativity that you've heard about stretch on Bitcoin
spaces, it makes sense because it's not meant to make sense to Bitcoiners. It's not meant for Bitcoiners.
I don't know if anyone watched the strategy earnings call, but Samsung now
took that question to Sealer. I would say on behalf of Bitcoiners, he said, well, why don't you talk
about Bitcoin as money anymore? Why do you talk about digital credit? Why do you talk about digital
this digital that Sealer's answer was very, very telling. He said, well, I'm not talking to Bitcoiners.
I'm talking to the people out there who want dividend. I'm talking to the Nourmys.
I'm talking to the Nourmys who are sitting on, what is it? It's $1.1 quadrillion of money and assets
in the world, total money in the world, 1.1 quadrillion. We're a trillion and a half asset. He's not
talking to us. He's talking to the Nourmys. He's talking to the Fiat world. By the way, it doesn't
make sense to them. The ship has been steadyed. That product is so attractive to a lot of people.
The people who own stretch, a lot of them don't even know that they own stretch. It's a kicker and
a portfolio. You know, the managers, the managers love it. I don't think it's any coincidence
that they steady their ship. Strave got their own little flywheel going. I think Strave will be
very significant. I love their team. I think they're good guys. Started out with zero debt,
building gradually, being very humble about it the way they started out. Look, those two forces
bringing in a persistent bid. I don't know guys. Unless I'm looking at this moon too long,
we're headed for some big moves here. I just don't know how you could have been studying Bitcoin all
summer and looked at the news and looked at the price action and still be bearish. I just don't
know what you're obviously looking at something that I'm not looking at because I see nothing but
clear skies ahead. I'm on record to say I have a couple of bets from earlier in the year that
Bitcoin would have had a hundred thousand. This year I have one bet. I have one bet that it will
take. It will reclaim the old time high before the end of the year. I was sitting thinking here
before I started the space. I might not even go back to those guys and collect those bets because
I just don't want to deal with the negativity of reconnecting with those guys. Those are guys that
showed up in February and March and we all had to listen to them talking about, I don't know.
Yeah, I better not go there. I'm not going to go around to bid bears because I think you need
bears for a healthy market. That's what a healthy market is. But if you're still sitting in dry
powder at this point and you're waiting on a date on the calendar and October, I think you're
going to be very disappointed because I think once this thing punches through $82,000 or whatever
that 50-week moving averages, I don't think it's stopping. I really don't. I just think it's up from
here. By the way, the 50-week moving average had a little look at the yearly chart.
So, man, I've forgotten it again. We were above the price that we're at now
until the start of February. That 50-week moving average includes what is that? September, October
November, December. There's five months of prices, like the high prices. Every week we go by,
we're dropping up a high price for the new week's price, which is around $79.80. That 50-week moving
average is coming down to me. We don't necessarily have to go to meet it. It's like two arms, two hands,
reaching out to shake hands. So, yeah, look, that's been my thesis for quite a while. I tweeted about it
a few weeks ago. People laughed at me. I said, if strategy studies that ship
gets stretched back to par, if Bitcoin, TAN is defeated, we're off to the racist. That's what I've felt
and this isn't a victory lap, by the way. But that's what I've felt for quite some time. Since strategy got
attacked, when was that May? By the way, on that date and May, people forget this. We were at $82,000.
People now are talking about, oh man, if we could get to $82,000, we were at $82,000.
Before everyone decided to poop on strategy. So, look, through the summer, all of that nonsense,
that ridiculousness about strategy and that Bitcoin TAN,
nonsense isn't a strong enough word for Bitcoin TAN. That's what dominated our lead spring
early summer. That's gone. Okay, strategies back in business, they got six billion of a cash reserve,
and the Bitcoin TAN stuff is gone. Anyone who was telling you how to Bitcoin, they're gone. I
don't see them anymore. So, look, it's blue skies ahead. That's how I'm seeing it. I see dual
carolsari here. Dual painted. Oh, and was that as far back as June and of June, I believe,
June was painting. It was a contrary and viewed by the way back then.
painting a very good picture in terms of a general, the wider economy and how good things were
looking. I think, June, man, you can speak for yourself. I don't have to use your words, but
you commented on a projection of the growth for the remainder of this year.
So, look, everything is rosy. I can't honestly think of bearing a black swan, of course,
but I can't honestly think of any more head ones right now. I think if we get to that 50-week
move in average, I think if stretch gets back to bar, I think it's blue skies ahead. I think we
retake 100 pretty quickly. I think that could happen pretty quickly through September.
Good get that. So, look, that's my monologue to start the space. I'm very, very bullish.
I've been in Ireland for a month. There's an old adage selling me go away. Well, I bought a
shet on at the end of July and went away. And it's been a pretty good August. I have to tell you,
have Don Well and Strayve, Don Well and MSTR, a shorted SpaceX for a while until Asteroid
saved me from myself. But it's been a good August. And I don't see any reason why September
can't be the same. So monologue over, let me get to some of these speaker requests and
see if we can get this bull chat started. Hey, guys, how you doing? Should be connected.
Or as my app learned me, who have got here NIMBTC. I know you kind of, you and I,