BTC Sessions - Insider Exposed US Bitcoin MASTER Plan | Bank & Exchange HACKED

Episode Date: June 20, 2025

A top insider close to Trump just exposed the U.S. government’s Bitcoin master plan, and it could be tied to a much bigger agenda—a new financial world order may already be underway. Here’s what you need to know before it’s too late.🔥 Don’t miss this action-packed episode! Subscribe, hit the bell, and join us LIVE to stay ahead of Bitcoin’s biggest moves! 🚀—------------------------------BOOK private one-on-one sessions with BITCOIN MENTOR! Learn self custody, hardware, multisig, lightning, privacy, running a node, and plenty more - all from a team of top notch educators that I've personally vetted.https://bitcoinmentor.io/—------------------------------SHOW SPONSORS:BITCOIN WELL BUY BITCOINhttps://bitcoinwell.com/btcsessionsCOINKITE/COLDCARD (5% discount):https://store.coinkite.com/promo/BTCSessions AQUA WALLEThttps://aquawallet.io/NUNCHUK HONEYBADGER INHERITANCEhttps://nunchuk.io/individualsHODLHODL NO KYC P2P EXCHANGEhttps://hodlhodl.com/join/BTCSESSIONDEBIFI LOANShttps://debifi.com/CRYPTOCLOAKShttps://qrco.de/bg5Dvo#bitcoin #crypto #btc #money

Imagine a world where Bitcoin becomes a cornerstone of the new global financial system. A world where the U.S. government doesn't just tolerate Bitcoin, it stockpiles it, treating it like gold backing after World War II. Sounds crazy, right? Well, that's exactly what some of the most influential people in power are talking about right now, and it could change everything. U.S. Treasury Secretary Scott Besant isn't your typical suit-in-tie bureaucrat, Bessence a billionaire hedge fund manager who publicly said he wants to help architect a new monetary order.

Think Breton Woods 2.0. And here's the kicker. Bitcoin might just be at the heart of it. To get why this matters, let's rewind. Back in 1944, the original Bretton Woods Agreement was born out of chaos. World War II was winding down. Economies were in ruin and trusting currency was shot. They pegged currencies to the U.S. dollar and the dollar to gold, creating a system that held together for decades until 1971. We all know what happened in 1971. Fast forward to today. Geopolitical tensions are spiking with wars in Ukraine and the Middle East. Inflations eating away are purchasing power. National debts are out of control. Nothing stops.

this train and China's flexing its muscle. Sounds familiar, it's starting to feel like 1944 all over again. So what's the sense angle? He said recently that crypto could actually strengthen the US dollar, but how? Additionally, recent hacks serve as a stark reminder to why centralized systems, whether it be bank vaults or poorly secured exchanges, are vulnerable. The only immutable ledger is Bitcoin. Globally, as things continue to heat up, financial warfare, and cyber attacks are going to escalate. The writing was on the wall when Russia was kicked off the SWIF system and their assets frozen. Now other nations, are better positioning themselves in which neutral reserve currency do you think they're going

to use, neutral reserve asset. So are we on the verge of a new monetary error with Bitcoin front and center? Is we sent about to steer the U.S. into uncharted waters? We're going to dig into this and more and what it means for you. Stick around. Things are about to get interesting. I am Nathan with the BTC sessions, and this is your weekly session. All right, before we continue here, let's go ahead and get my co-host with the most, Mr. Gary

Mahmood. Gary, how are you doing today, buddy? I'm very well. How are you doing, man? I'm doing, you know, I'm doing pretty good, all things considered. You know, things are definitely getting interesting around the world. Yeah, I mean, compared to most people, the rest of the world, I'm doing well. You know, so yay me. It's very quiet here in Canada and the U.S. I think it's a win for us.

Well, let's dive in. And first and foremost, I imagine a lot of you out there are wondering, where is Ben? What have we done with him? Where has he gone? He is at BTC Prague, and we have a brief quick message from him as well, too. So I'm going to start by letting the main man speak for himself. Yo, gents, I am here at BTC Prague after Industry Day. Everything really kicks off tomorrow.

But thanks for holding down the fort. Everybody, thanks for continuing to tune in. I will be back home next week, pre-Sat market, pre-Bitcoin rodeo, pre-Bitcoin mentor, Bitcoin Survival Workshop in the Mountains. So very excited for that. But until then, Nathan, Gary. Thanks for doing the show. I'll see everybody next week. He knows me. He knows me.

It's wonderful. We're excited to have Ben back and can't wait until he gets back next week. Now, let's continue on. There's a few things I want to start off by kind of pointing out. I did see these wonderful posts from Mr. Adam back. Peak, whole corner is near, stack fast, time is running out. I agree. Now, I know that I think in this context, Adam was actually referring to the ETFs or just overall adoption. And I think that the governments and what we talked about in the intro is actually going to play a big part in that. But to give them credit, I did see that the ETF inflows are continuing to grow. More people are coming to the space. Action on chain is still pretty quiet.

Would I rather everybody take self-custody? Yes, everyone learn to take self-custody. But we can see that Bitcoin adoption in these kind of financial vehicles to take away a lot of the freedom aspect is continuing. But main leading story, what I want to talk about here. We had this video come out from Scott Besant in a recent interview. Let's play that and see what he had to say. There's a new book called King Dollar, a journalist who's followed Treasury for about 40 years. And he talks about every time there was a narrative that the U.S. was going to lose reserve currency status, why it's never happened.

Because crypto, I mean, that seems to be a threat to the dollar, doesn't it? I think it's the opposite. Oh, really? I think stable coins could reinforce dollar supremacy because with stable coins, stable coins could end up being one of the largest. buyers of US treasuries or T-bills. So all of a sudden, if you are using a stable coin in Nigeria that's backed by the US dollar, you don't actually have to have dollars. It's on your phone. You can transact. So I think there's a very good chance that crypto is actually one of the things that locks in dollar supremacy. And is that why it was crucial that Donald Trump get involved

in crypto rather than trying to constrain it like Joe Biden was? Well, I think constrains too mildly word. I think make it extinct. So this administration's about the digital assets. It's innovation because there's so many other things that happen around digital assets. And also, it's one of those things that it's one of the most important phenomena that's happening in the world. And the U.S. just ignored it. See, now I'm going to make the case, listen to make the case, that the idea that we need a new monetary order, I think, is true. And I think that it will be Bitcoin in the end, but there may be a transition period in between. And I think that Scott wants to be kind of at

the center of it as well. We're previously, They may have done dollars, you know, currencies backed by dollars, backed by gold. I think they're actually going to look at currencies back by or just using stable coins backed by treasuries because they need to create more demand for that and ultimately backed by Bitcoin to try and get things a little bit under control. I think they're doing a new kind of Bretton Woods move. And I'll make the case for it, Gary. I also have this here. So this was from an interview with Scott Besant. And again, don't take my word for it.

Let's hear what he had to say on the matter. I also felt very strongly that we're in the midst of a great realignment and of a Bretton Woods realignments coming in terms of global policy, global trade. There's a lot of what I taught at Yale and studied my whole life. I'd like to be part of it, either on the inside or the out. And then three, I think. He'd like to be a part of that new monetary order. Interesting. So currently also in the news we have, it was U.S.

China meet for trade talks in London. And additionally there, we had, of course, Scott Besant. And I found this wonderful piece from Emil Henry, former U.S. Treasury Assistant Secretary. Scott Besant's Bretton Woods' moment is here. Interesting a little find. As Trump's lead negotiator in London this week, Bacent helped establish a tentative framework between the U.S. and China to ease trade tensions. He should now seize the moment to shape a more durable framework that ensures global economic stability secured by long-term American financial preeminence, just as Treasury Secretary Harry White did at Bretton Woods in 1944. The original Breton Wood system emerged amid tensions and political and economic instability. As World War II ended,

leaders sought to avoid the destabilizing currency devaluations, monetary fragmentation, economic nationalism that preceded the war. America's vast gold reserves and industrial scale made it the natural reserve currency. Now, I was speaking with one of the guys of the Bitcoin policy, dude. I think it's something like, I want to say 40%, but it could be even higher than that. Like a huge swath of Bitcoin, not held by the government, but held by citizens. A lot of Bitcoin currently resides in the U.S. I believe the majority between any other country currently resides in the U.S. And we all know that Bitcoin is way better than gold in terms of a backing or just purchasing power asset.

So, first and foremost, I got even more to make the case. But it seems to me like regardless of what their move might be, that stable coins are at the heart of kind of continuing to have that global dollar demand, but I still think it needs some backing and treasuries can't necessarily do it. Gary, what are your thoughts, man? I mean, it makes complete sense. You know, you have a lot of people all around the world in many third world countries that don't have easy access to physical dollars. They don't have banks. They can't become banked. And even when, say, people in first world countries, their family members try to send them money back. It has to go through the government. It's at a poor fixed exchange rate

where the state takes their cut. So to have people around the world, be able to more easily access the dollar to have a much greater increased demand for the dollar. Yeah, sure. That's great for the dollar. It's a temporary band-aid. It's not going to solve the problem of money printer go burr. But for now, it'll help prop it up a little bit. Yeah, I completely agree.

I think ultimately, like on this path to hyper-Bitcoinization, which I do think is where we're going, right? We're getting away from fiat currencies. You need to have that completely neutral asset that no one can take, no one can confiscate, no one can censor. And everybody will figure it out. They will get there in time. But I do think there's going to be a transitionary period.

And I do kind of subscribe to that the Brett Johnson Dollar milkshake theory. I think it's very reasonable that we could possibly see gold and Bitcoin and dollar all rising and purchasing power as compared to all the other worst terrible fiat currencies like the Canadian Moose Shekel out there. And the nice thing is that in terms of moving from like a paper note into Bitcoin, going from a stable coin into Bitcoin is easier. So I think it does kind of lower that hurdle rate. And particularly things like Aqua Wallet, right? You've got your basically your savings and they have stable coins because there is a demand for that in other places. of the world where they don't have the ability to necessarily save and they want a better currency and the kind of interim, having those two side by side, getting people to look at that Bitcoin

USD denominator, the truth will be unavoidable. As they see Bitcoin's purchasing power continue to grow and they have easy rails to kind of move in. I do think it actually advances kind of normalizing these things, getting familiar with them, almost like a tech onboarding kind of setup. And I think that, again, that they're looking at a new monetary order and they're going to put this kind of private CBDC stable coins kind of at the heart of it. We recently had Senate passed the genius bill, stable coin bill, giving the industry the first major win as headlined here, but regulatory framework. And of course, we saw a Circle Internet group who has the USDC. I talked about it yesterday. Man, their stock was just absolutely ripping. Like it seems like the

U.S., both the market and the government are completely getting behind this idea. And again, stable coin, shitty fiat currency versus Bitcoin. Bitcoin wins. I just want people watching this battle because I think they'll make the right decision and get there kind of on their own. that same vein going to the kind of Britain Woods idea, I do think that we have a higher likelihood of the Bitcoin Act passing. We had this from Senator Lummis indicating that she has Trump supports. Let's have a quick listen to see what she has to say. I'm particularly pleased with President Trump's support of my strategic Bitcoin Reserve Initiative, which will address our national debt while securing America's position as the global leader

in financial innovation. As Bitcoin comes into more usage, its use makes the whole system more secure, more robust, and more capable of serving our needs all over the world. We should be the global leader with this fantastic new ledger-based asset that is in a digital format that is going to be transformative of everyday economy and puts the everyday American, in fact, the everyday worker all over the world, in control of their own money. What a wonderful blessing for hardworking people all over the world to have this great new technology and to have America lead the way in implementing this wonderful innovation. again i think they're going to try and save the u.s dollar with stable coins i think it will buy them time

i think it will accelerate the downfall of other fiat currencies but in the end bitcoin wins yeah did she say cure the national debt did i catch that correctly i have no idea but i'm not sure if that's yeah yeah what's a story mark that's very funny before i continue pressing on making my case that this is the move in the monitor system that they're trying to build out what are your thoughts man Just what I said before, maybe they'll try to do it. I think the people in there have to know by now, especially the people that Trump has surrounded himself with, who all seem to actually understand Bitcoin on a much more fundamental level than he does, that Bitcoin is the future. It's the way to go. It is gold for the digital age with all the best qualities of gold with none of the worst qualities.

So they'll try to gradually build around that. They can't do it outright because that will crash the dollar. So they'll try to do it through stable coins. And as we said before, there are people around the world in many places that don't have easy access to the dollar where the dollar is way preferable to their local currency. So compared to that, like, yes, I'm going to go with the dollar, even though we here in North America know that the dollar is still kind of shit. It just happens to be, as we often say, the least dirty shirt in the laundry. So they'll go to that first. I know a lot of us thought that, oh, when Bitcoin comes around, there's going to be people all around the world.

And these third world countries are just going to embrace Bitcoin. It hasn't happened for whatever reason. They still kind of view the stable thing and the thing the value is the dollar. So so be it. And I think you make a fantastic point that I didn't consider beforehand that, yeah, if you're on something like an aqua wallet and you see stable coin and oh, there's Bitcoin with it. It's a kind of a technological thing who can be like, okay, I sort of get Bitcoin now and I can see the price goes up and it can bring more people into it in the long run. So like Lynn Alden says, nothing stops this train. Money printer is going to go burr.

Eventually, everybody's going to learn Bitcoin and get it at the price they deserve. Yep, completely agree. And even on that point of kind of accelerating, it's a simple game, right? Get people to buy their dollar. The US is going to export dollars, right? They're having issues with that, essentially, declining in treasury demand for foreign countries. But this is a way to basically sell treasuries to the individual and to export those around the world. So even looking, we had this announced as well, too, Shopify just introduced crypto payments.

Again, guys, it's not hard to throw up like a lightning QR. There's no reason you can't add Bitcoin to this list here too. But again, with all the fifth. favorable regulation around stable coins. They've introduced that as well. And again, that's an international company. So they have international buyers and sellers. I think that's, again, they're leaning into it and they're hoping they can use it and get those

dollars out there. And the same thing we saw with Walmart. $750 billion Walmart exposure explores using crypto stable coins for payment. I think a lot more of this is going to continue. And ideally, I think ultimately Bitcoin is going to be right beside it or at least so close adjacent. I think the U.S. again, make the world use it as dollars. I think is the goal, and they're going to end up stacking Bitcoin.

Now, in terms of things that are good for Bitcoin adoption, or not a Bitcoin adoption, Bitcoin price at this point, yeah, I think it does make for an easy kind of low barrier to entry, does get some new people onboard and getting used to the environment as well, too. And I believe, I believe we're going to have some more continued, you know, fiscal irresponsibility and that the U.S. debt is going to continue to grow, right? Yeah, I think that's kind of a safe bet, Gary, isn't it? It's a very, very safe bet, Nathan. I don't think you're exactly going out on a limb with that one.

Yeah. So I wanted to touch on Matt, who worked for the show, fantastic guys. Shout up to Matt, pointed this out to us earlier today as well, too, that the debt is going to continue to balloon. And right now, again, with tensions escalating in the other parts of the world, I think it's only going to get worse. This was a estimate of war spending since 9-11, at $8 trillion, $8 trillion of that $36 trillion, which just seems like imaginary numbers at this point in time was due to wartime spending. And it's looking ever increasingly more likely that there's going to be, unfortunately more U.S. war involvement I saw earlier today. Why, Nathan? Whatever do you mean? What could I possibly refer to? Man, this feels very much like 2008 in the war in Iraq and all the lead up to that as well. It feels very much

why Bitcoin was here in the first place. It's setting the stage, again, to have the excuse to print or create the excuse to print, whatever one necessarily came first. We have, Trump approves Iran attack, but has not made a final decision. Unfortunately, we see that as well. And then you pointed this out to me

before the show, Gary, too. I wonder if you can give us a little information here from Seymour Hirsch. Yeah, according to Seymour Hersh, who has a pretty good reputation. He wrote, this is a report on what is most likely to happen in Iran as early as this weekend. According to Israeli insiders and American officials, I've relied upon for decades, it will entail heavy American bombing. I have vetted this report with a long-time U.S. official in Washington who told me that all will be, quote, under control if Iran's supreme leader Ali Khomeini departs. Good luck with that. Just how that might happen,

short of his assassination, is not known. This has been a great deal to talk about American firepower, targets inside Iran, so on and so forth. And then he goes on to say that the delay, as in not bombing immediately, but waiting until this weekend, has come at Trump's insistence because the president wants the shock of the bombing to be diminished as much as possible by the opening of Wall Street trading on Monday. Absolutely horrendous. No, unfortunately, I think that things are going to get worse, that the money printers and the military industrial complex are going to basically spin up and go into overdrive. And then ultimately, if you're not in Bitcoin, you're going to feel that pain. That's why it's ultimately here. And guys, I want to point out, I saw this all on Twitter.

So it's definitely true. It has to be 100% true. And I also want to point out, Metal Girl left in the comments. No, she did not say that it would address. It should not say that it would cure the national debt. It would address it. So slightly different. I apologize.

I heard it wrong. Still more or less the same thing. I like cure. I'm going to use cure from now on. Sure. Awesome. We're going to take. A quick break for sponsors. When we get back, we're going to be given away some stats from Bitcoin

Well. And then we're going to jump into some more information that came out of Iran around this as well, too, the Israel-Iran conflict. There was some recent hacks of both exchanges and banks. And we're going to dive into what happened there. Stick around. We'll be right back with you. If you are enjoying this episode so far, please do hit that like button. It does really help us out. And we'll see you in just a minute. Bitcoin Well is the best place to be buying and selling Bitcoin in Canada and the U.S. And now with Bitcoin Well Infinite, it's also the best place to be making large buys at their OTC desk of over $50,000. Their white glove service gives you fast transactions, no slippage, and the lowest fees.

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Don't sell your Bitcoin, borrow against it. You can head over to Debify.com to check them out or simply scan the QR code on the screen. Right. All right. All right. All right. Let's get back into it. First things first.

We're going to give away some stats. This is Bitcoin. person to scan that. If you do get it, do me favor, leave a comment down below. If it's not working for you, it means you're just a little bit too slow and someone beats you to it. So, continuing on, we have the conflict and we have some cybersecurity, some financial infrastructure security things going on. Suspected Israeli hacker claims to destroy data at Iran's Bank SIPA. we had an anti-Iranian government hacking group with potential ties to Israel yeah I mean who knows it could have been the Maldives you never know

with a record of destroying destructive cyber attacks on Iran claimed on social media post on Tuesday that it had destroyed data at Iran's state-owned bank SEPA again this is another reminder that one the money in the bank is not money and two it's not yours and additionally this is a centralized server you're using a bank's ledger to keep a record of what you have and what somebody else has and what everybody has, what transactions are going on there. And if you have that choke point, there's always going to be a risk. The only immutable ledger, the only one that is safe is Bitcoin. Every other one of these has a throat of choke, a target that can be hit. Continuing, yes, Gary. You're saying that I shouldn't leave my money in the bank.

I can just put it on a Bitcoin exchange and leave it there instead, and I'll be fine. Oh, Gary, thank you so much for bringing that up. No, exchanges are also just another centralized server. We had this as well. Iran's biggest crypto exchange just got hacked, but the attackers didn't steal the nearly 100 million of crypto. They burned it on purpose. A little bit of a, yes, a little bit of a, you know, they hate saying this. It's like, it's like, you know, give to the network, but kind of under terrible circumstances. But yeah, they stole from the hacked in, stole from the exchange, and they burned it. Over 90 million was drained from Nobidx. Iran's large exchange with 6.000. million users, but instead of laundering it, the hackers sent the funds to a vanity burner

address. We got, you know, fuck terrorists right there. The money is now permanently gone, is lost forever, cannot be accessed again. And again, going to the same reason that you don't necessarily want to have your money in the banks or trust the banks or you cannot trust the banks, that's why we Bitcoin in the first place. You cannot leave your Bitcoin on the exchange. You must take it in self-custody, then has a plethora of tutorials, start working your way through that, I bet nobody watching this is still making that mistake. But if you are, guys, it's time to start learning. It's time to start improving your Bitcoin skill set.

Additionally, again, cyber tax, financial attacks are going to be part of the ongoing escalation. Your money's not safe there. And unfortunately, a lot of people treat the stock exchange like it is a savings vehicle as well too. And even that, I don't know. Yeah, right? Oops. I don't know if this is a accidental hit or was a targeted hit from Iran on. Tel Aviv, but we have Israeli stock exchange in major escalation of geopolitical tensions. Iran

fired multiple missiles into Israel on June 19th, targeting key cities, including Tel Aviv and Bersheva. One of the major sites reportedly hit was Tel Aviv Stock Exchange, a key hub of Israel's financial system, according to reports, the stock exchange building suffered considerable damage. Again, things are going to get worse, right? We see the monetary order kind of crumbling and has been for a long time. Every reason why we're in Bitcoin, since even its inception is still here, but it really feels like things are escalating at this point in time. At terms of in times of conflict and instability, this is where you want to be. And the price has been unbelievably stable as well, too.

We're still above 100K. It has not been shaken by the ongoing events. Gary, all this. What are your thoughts, man? It's just one more reason that nothing stops this train because, you know, if you think money printer was going burr before, I think they're going to pay for this war, which apparently not only is the U.S. just doing the usual support of Israel, but we're going to start actively bombing Iran as well.

So somebody's paying for that, and it ain't the people doing it. It's you and me, junk, you taxpayer. Yeah, it's gotten just unbelievably ridiculous. And it seems like at least the nice thing is actually I'll pause for just a second. I kind of want to get your thoughts on this as well. Something that's struck me. And maybe it's just kind of like the echo chamber that we live in. It's just kind of what we see on the day to day.

I get to hang out and talk to the Bitcoiners. So I have people to kind of share my worldview as well. But so for example, I saw that interview with Senator Ted Cruz and Tucker Carlson regarding the regime change in Iran. And I'm seeing a lot of posts on X and other places as well, too. It feels to me that unlike prior times, you know, in the lead up post 9-11 and the lead up to the Iraq war, that the public sentiment for getting involved, even the public sentiment, like look how much support Elon had with Doge. And then his public, his very public falling out with Trump there over two over the big. beautiful bill bullshit that went through that I yeah I feel like they're still going to force this shit down our throat dollars will ultimately flow into bitcoin and purchasing power will ultimately

flow into bitcoin as a result they're going to force potentially another conflict as well as continued fiscal irresponsibility onto the people but but it feels like culturally bitcoiners have more of an impact or at least the culture is more starting to align with that kind of ethos what do you see man what are your thoughts I mean I think amongst bitcoiners I definitely see a lot of folks that are kind of objecting to this, you know, the idea of let's go jump into another war. And I think, you know, part of it's Bitcoin, you know, there's a certain ethos with it. And part of it, admittedly, it's just decentralized media. You can't just have the government come in and put out their talking points and have just

three major networks and maybe one or two cable networks just kind of parrot it all and supported and, you know, prep for war. But it doesn't seem like we're even trying to do that anymore. You know, back in Iraq, there was like before they went in like 03, there was like an 18-month the buildup, you know, to kind of make the case for war to manufacture consent. Now, I mean, I mean, never even mind a congressional declaration of war, which is sort of in the Pursky Constitution thing. Now we're just going to jump. Do people ever do that? I don't know. I'm that's, that's old hat. That, you know, it's passe. Who needs that? Now we're just going to jump

in and do it, whatever be damned. And yeah, there's definitely a lot of objections to it. I'm happy to say more so that I might have otherwise expected. But, you know, we'll see. I just, there's going to be a lot of people around the world suffering. And I certainly hope that we don't get blowback here, but that sort of thing tends to happen. And we'll see. We'll see where things progress. I think it's a really important time right now for Bitcoiners in particular that even if we can't necessarily have enough impact or influence to stop these things from happening or to de-escalate

the situation, that I think it's important that Bitcoiners are vocal about Bitcoin, about the network, about kind of the getting away from these conflicts and kind of those, what you just say, those kind of Austrian values that kind of come along with, at least the libertarian side of Bitcoin, right? Bitcoin is for everyone.

We're going to have people here with different few points, but it's one of those moments where I think that necessarily speaking up won't impact change in the way that we want to. However, when things inevitably go wrong, that the purchasing power and the dollar continues to inflate and devalue, that there's destruction and mayhem for possibly

unnecessary reasons that will at least have credibility to say like we try to point out to you and hopefully we can have more of an impact you know the next cycle as we go through this man it feels very forth turning ask and unfortunately we have to get through the hard times to get back to these strong men make good times and bitcoiners are those strong men right big corners are those strong people to hopefully have that influence and to rebuild things from there but i was going to say a great way that bitcoiners can help with this for the first time in history is you don't need to try to convince people or try to vote out the wrong politicians or whatever you can actually make a deal

difference by getting your wealth out of the Fiat system that pays for these wars, putting to Bitcoin, which benefits you, hurts the Fiat system. Every little bit can make a difference. And it becomes only a matter of time before these governments just can't pay for their bullshit anymore. Completely agree. We got to opt out, opt out with Bitcoin. That's the vote that we get and the one that counts.

Continuing file a complaint at 1-866 Tel Aviv. It's not really there on screen. Yeah. Oh, my Lord. All right. Also, on the same data point as well, too, for you. You guys out there, if you haven't checked it out, Ben's got a wonderful tutorial on the Start9 but you can use those servers like Start 9 and Umbril for your other data as well too,

beyond just running a note. And I found this. And again, computers are not safe. Somebody else's computer and cloud storage is not a safe place to keep things. And so I thought it was worth pointing out while talking about the importance of self-custody and that same sort of vein. So we had several collections of login credentials reveal one of the largest data breaches in history totaling a humongous 16 billion exposed login credentials. The data most likely originated from various info stealers. Unnecessarily compiling sensitive information. Again, having to take this, this KYC information,

having to get this information on the exchanges, just creates a honeypot in the first place. We had the Coinbase hack, what, like just like a week or two ago. It feels like forever at this point. There was Ledger back in the day as well too. Yep. The fact that these companies have to compile this information is one of the worst things in the first place.

And again, the more you can control your data and your money, the better off you're going to be. So for example, Cyber News research team discovered a plethora of supermassive data sets. A plethora? Is that what you said? A plethora, I believe it was a plethora? Plethora. Thank you, sir.

No, I'm going to go with plethora. I like my Canadian way of saying it. Sure. Housing billions of fund billions of login credentials from social media and corporate platforms to VPNs and developer portals. No stone was left unturned. Again, just guys, a firm reminder. Get your Bitcoin in self-custody.

And then start to look at the other things that you can do to improve. prove your security and secure your data. Now, talking about the escalating war, changes in the monetary system, what are countries going to do? They're going to feel insecure. They're going to have some issues. They're going to want to protect themselves. And again, I think from the opening, I think when Russia was kicked off the SWIFT system

and their U.S. dollar assets were seized, I think that was a major warning that that isn't a safe place to keep them. So where else might you keep them? Well, historically, I'm wondering if you. you remember this, Gary, this photo and these photos circulated around a long time ago as well, too, that back in 2003. Now, I do believe, if I remember the story correctly, it was like verified or like all the stuff was taken to Kuwait and was later returned to Iraq. But still,

when there's military conflict going on in the world and gold being a tangible asset, it kind of has the weak point of being a tangible asset. Yeah, I mean, I saw the George Clooney movie Kings. I know how this works. We had in 2003 American troops seized 868 million worth of gold bars from a truck in Iraq. These are their

photographs and of their findings featured in Saddam Hussein's gold vault. So again, if goal is not the answer, if treasuries aren't the safe place to be, where are these countries going to naturally pivot to? And so with that guys, Gary, do you have

any additional thoughts? Cardano? Ah, you better not, you fucker. You get that word out of your mouth. Jesus Christ, mate. Bitcoin, obviously Bitcoin. So when we get back, we're taking another quick break for sponsors. When we get back, we're going to talk about some other nation states that are making moves into Bitcoin, which makes perfect sense, particularly from their region and not necessarily having some friends nearby of why stacking Bitcoin and why that's so important. One more quick break.

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We're back and ready to go. So you guys might recognize this fine gentleman right here. His name is Gary Mahmood below me. But Michael Sziler is just to the left. I can see what I did. We got breaking Pakistan's finance minister and state minister on crypto, just talked with Michael Saylor about Bitcoin. Now, for anyone that might not be familiar,

it's not necessarily completely hostile, but the relationship between Pakistan and Israel is not necessarily great. And so, again, having something that people can't seize, having something that might benefit from war money printer go burr is not necessarily a bad idea. And I think we're going, again, guys, I am a anarcho-capitalist. I'm not a fan of any government. I hate all states equally.

That's my opinion. You're not necessarily share that. But I think that they're going to ultimately come in, that they're going to get involved in Bitcoin. But governments, again, at the end of the day, are just people. And that it will eventually lead to a better world and ultimately the downfall as well, too. When you can't, I had a wonderful conversation with Knoot about this. When you can't steal money, taxation doesn't really exactly work.

So we got a long way to go, but I still think it's important for the overarching journey. So let's hear what Michael Sayler had to say. Your time today, I'll stay in touch with Bilal. I would offer you just one final thought, which is it's a global economy. Pakistan has many brilliant people and a lot of people do business with you. My company had less than $400 million to invest, but the markets gave me $40 billion dollars because they trust us. And so the most important thing is leadership, intellectual leadership, and that they trust you. If the world trust you and they hear your words and you speak particularly, the capital and the capability will flow to Pakistan.

It's there. It wants to find a home. And that's what happened with our company. Our success is because we were clear and committed. And once the market decides who the leader is, they get behind the leader and they send their money to you. And I think they'll do it to Pakistan too. You have the most important thing, which is you have a commitment and a will and clarity here. So I look forward to working with you. Right.

And recently we had also at the Bitcoin Conference, Pakistan announces Bitcoin Strategic Reserve. Head of Pakistan's Crypto Council announced on May 28 that the country is moving to establish a strategic Bitcoin Reserve. Again, new monetary system, global neutral asset, seems to be the kind of the way that things are going. Speaking at Bitcoin 2025 conference in Las Vegas, Sakeeb said that government of Pakistan followed the United States lead in establishing a Bitcoin strategic reserve and is embracing a pro-cryptor regulatory policy. Now, Gary, I want to get your thoughts on this, but one thing I do want to point out that I think is kind of the benefit that maybe isn't necessarily always seen by people as well too. Again, I'm very much so in not getting on a political

sub-buck, but I'm an anti-war kind of person. That's my biggest thing. I just don't want violence or conflicts. I don't really care about either team. I just want to see peace and prosperity and people not being hurt. Yeah. How about no blown up kids? That would be a nice start. It seems like a low, low bar, low threshold there. And with this, too, the point that I want to make is that we're all, if everyone's moving towards Bitcoin, they're all trading with one another. If you take a extreme example, but I still think a relevant one, you look at something like the historical relationship between England and France, right? And how those countries just kept going back and forth with blows and kept fighting and never once seemed to be able to kind of get on the same page.

But as soon as countries start trading with one another, as soon as currency and goods, Passover borders, bullets and guns stop, right? That essentially that is the end point, that when your incentives are aligned, like, I'm better off. You don't have to be friends with somebody to trade with them and still benefit from it. That it is moving to a more peaceful world. And again, that's my position. It's not going to be shared by everybody.

Number of go up is great too. But I like to see these sort of advancements. I think it moves us in the right direction. Pakistan, getting into Bitcoin, Sailor's thoughts there. Gary, what do you see? I mean, it all makes sense. We talked about in the previous segment, how we saw that scene of this giant thing of gold bricks that our soldiers seized in Iraq.

And Sailor made this point years ago that in all wars, the first thing the invading army does is go look for the gold and seize the gold because that's what the value is. And either give us the gold or we'll kill you or we'll just kill you flat out and get the gold. Bitcoin, you can't do that. because if you kill the people that have the information for the private keys, you don't get any of the wealth. So it's a thing where you just can't say, I kill you and I take it. Now, I suppose you could try to torture it out of somebody. I mean, nothing's perfect, but it makes sense in a lot of ways for people to want to move into Bitcoin from gold.

That's just one of many other reasons. And I will just put a little addendum to what you said earlier about being an ANCAP and you hate all governments equally. I'm also sort of a libertarian ANCAP type. I definitely dislike the idea of the state all around. I'll concede that some governments are better than others. So, I mean, if you give me the choice to live in Switzerland or North Korea, maybe I'll take Switzerland. Yes, from a practical standpoint, I can definitely say that like if I'm going to be ruled by somebody,

I can definitely pick and choose what might be the best one there. I'm not sure I would pick Carney in the situation. So being stuck here in Canada, I'm not sure is necessarily a win. And I did want to point to because you're, You're absolutely right that wars are going to be, a lot of times it's going to be resource driven, right? We're going to try and get something. You're right. As soon as somebody goes in, you're seizing everything that you can, whether it be the currency or the gold.

And the other one, too, is the tax cattle. We talk about how, like, you know, the U.S. dollar is backed by essentially the taxpayer, that you're going to have that future economic productivity. And that wonderfully, Bitcoin is so wonderful because it means that if you can't tax and you can't seize it, Those are two of the major incentives for invading another country completely taken off the table. There's no point anymore. It makes war unaffordable. It makes war unnecessary.

I would, I mean, I love pie in the sky, Bitcoin ideals. I would say it makes war less affordable because people want to do something. They're going to find a way to do it. But it makes it less affordable, less likely shorter wars. I'll say that. Do you need me to pull up that $8 trillion price again to say that like it's already unaffordable? It just means they can't steal it.

I really want to believe in, you know, the great future of flying cars is Bitcoin. I just, there's always that skeptic in the back of my mind. But I hope you're right. I hope so too. And either way, it makes for a fun conversation as we can do. And continuing on this, too, there was more government kind of favorable conditions in regulation coming into place as well, too. And again, people are going to want, countries are going to want to attract Bitcoin and

Bitcoiners, I think ultimately. So we had Thailand approves five-year Bitcoin in crypto tax break. No cap gains. And I think that one, even more. than the strategic reserve angle. I think getting out of the way so people can transact in Bitcoin, it will naturally have that grassroots bottom-up adoption because it is the better money, right? Especially when you're considering from a merchant side, the additional fees and things that they're spending on credit cards and how long final settlement actually happens, Bitcoin doesn't

need anybody to necessarily push it forward, but it could benefit from people getting the hell out of the way. So Thailand will exempt capital gains tax on the crypto profits made through licensed platforms. That part sucks, but still, from 2025 to 2029. with the goal of attracting global investment and support the country's digital economy. Thailand has approved a five-year tax exemption on capital gains from cryptocurrency trading made through licensed digital platforms. Again, don't be on exchange. That part kind of sucks, but at least we're still heading in the right direction. The exemption will be in effect January 1st, 2025 through December 31st, 2029. So again, we're seeing more countries, particularly, and I always

thought this was going to be the case. I was surprised how fast the U.S. move. But again, If we're coming to the end of like the US dollar dominance, right? If we had kind of the pound sterling and then we entered the year of the dollar, it did seem and it does seem like the dollar is waning. And I'm not surprised that they would take some big swings. Like again, reorganizing the monetary system, Brettonwood's 2.0, backing or at least having Bitcoin on their balance sheet and pushing out so difficult to try and revitalize it because they are definitely on the downward slope.

But I expected smaller countries, smaller economies like El Salvador, like Thailand here, to really have the advantage and see the risk world profile of getting into it sooner. Additionally, with that, we also had Brazilian lawmakers propose scrapping crypto tax for long-term investors. Brazilian lawmaker, Eros, like I try and pronounce that, my apologies, has created a, has drafted a bill that proposes doing away with crypto tax, particularly in the case of citizens who hold Bitcoin as a long-term store of value. This return to savings is good for every economy, right?

It's capital accumulation. They have every incentive to want to tell people like, hey, save, grow, build, attract capital. Everyone's going to be fighting for Bitcoin. Everyone's going to be fighting for Bitcoiners. Gary, your thoughts on this continued adoption. We're seeing governments around the world move towards it, whether it's national governments or even state or provincial governments, you know, within different countries. I know we've talked about, you know, maybe this is the cycle of governments, but it always

seems, if we are still on cycles, it always seems to be just one behind. And last cycle was talked about the adoption for businesses. That didn't really start to happen in full until this cycle. And now we're seeing a few governments, maybe really start to see most of the world moving that direction in the next cycle. Again, if their cycles are still kind of a thing. I completely agree. One, I think cycles are still a thing.

I don't have any evidence to back that up. I just say it continues to happen until it doesn't happen. So I'm going to bet on that still being a fun fall. And then we'll see where things drop off in the end. Maybe we'll get like a 290 back to 58K,000 forever would be delightful. That's an 80% drawdown. It's not the end of the world and it gives me more time to stack and I'm still in my accumulation phase. But I agree.

And I'm going to say, I'm a bear and I think there'll be a drawdown at some point. But I don't think we're going to an 80% drawdown again. Those drawdowns are getting less and less and less each cycle. So, yeah, 60% drawdown, maybe. I don't know. Well, to your point, I completely agree that I think this is actually the kind of corporate adoption cycle. It was teased at previously in 2020, 21, and that this is actually happening now with Metaplanet, all these treasury companies getting into this place,

Mallor's 21 course strategy that I think that you're right. This cycle will be kind of defined by that. It is the first tease of government adoption. I think the likelihood of the Bitcoin Act passing is much higher than people give it credit, but I'm still not giving it an above 50% kind of probability at this point. I think this is the first hint and that those things come more into effect again in the next cycle. And to your point, I still think we have a big correction down because if we happen to get to that euphoria point, dumb money, sorry, big money can be just as dumb as small money that will see leverage, we'll see some sort of treasury company entering the space and getting way over their skis. And again, the unfortunate thing is that like

why shows like this are important, why you guys out there talking about Bitcoin and educating people and trying to onboard them is there's still that massive information asymmetry where at this point, everyone's heard of Bitcoin, but very few people could tell you like what the difficulty adjustment is, right? Or people may have even bought Bitcoin, but they never even remotely attempted self-custody. And so while they may be familiar with it, you know, They may know the name. They may even have the 21 million supply cap meme drilled into their head. I still think they don't have enough information or understanding for the conviction that they don't freak out if we have even just a large correction.

And you just see that cascading kind of like margin calls, liquidations, everyone panicking. But again, that's a great opportunity for us. Yeah. Buy that tip. Pick it up. Stack more. Yeah. Yeah.

Yeah. People ask me, you know, I don't get it. You seem to be happy. Are you happy when Bitcoin goes up or you happy when Bitcoin goes down? And I say, yes. Yes. Yes. I'm just so happy in Bitcoin. Yeah. Yeah. Go up. Great. Go down. I get to buy more. That's fine. Whatever. Long term. If you're looking at it, you know, five to ten year increments, you're in great shape, and you won't be nervous by any drawdowns.

I completely agree. Now, not every government is going to see the writing on the wall of where things are going and how to position themselves accordingly. France is going to France. So France did have a proposal that they were going to use excess nuclear energy to mine. Bitcoin makes perfect sense, right? Any country that has excess energy, whether it be like volcanoes in El Salvador, be excess flared gas in Alberta here, if you've got this stranded or excess energy, excess hydro, you should be tossing that into Bitcoin. It is your buyer of last resort. It's profitable and helps you also in some places of the world like gridless in Africa establish that grid system to actually get that infrastructure in place. But unfortunately, again, they're waving the white flag. I feel like they may have done this in the past as well, too.

Justin, the French National Assembly rejects proposals to designate Bitcoin mining as a state activity utilizing France's surplus energy for government-operated Bitcoin mining. Again, I've said this before, and I'll get your thoughts on this well, Gary. I think we're at the point where actually governments around the world, because of the U.S. in particular, I think they really kind of set the precedent, that they have to have a position on Bitcoin. It doesn't mean it necessarily has to be favorable or negative. I think we'll ultimately see kind of a split. I don't imagine there's going to be too many kind of hanging it out in the middle of the curve.

But they have to have a position at that point because it is a threat to their printer. It is a threat to their currency, right? And it does remove a ton of control. While the stablecoin aspect we were talking about earlier could help at least normalize and get people into the Bitcoin ecosystem, I don't want people in stable coins. That's ultimately just a privately held CBDC. It's something else that somebody else's control. It's not the answer.

Is it better than the local fiat currency? Possibly. But Bitcoin, that's where the real freedom. And that's where the real responsibility and empowerment comes from. And it is clawing that away from the state. So again, I'm not really surprised France of all places saying like, yeah, we're not going to do that. I feel like they've made a ton of terrible decisions over the last couple of years. But your thoughts.

Yeah. The United States for better or worse leads the world in a lot of different things. And a lot of people take their cues and whatever the United States government does. It's been no secret that Trump and a lot of people surrounded himself with want to move forward in the Bitcoin and, crypto space. Yeah. So a lot of people have to, a lot of different governments have to kind of take note and proceed accordingly, whatever they do. I mean, I'm sure you've heard and I've heard rumors that there have been some of these, you know, Arab kingdoms who are already wanting to go all in on Bitcoin reserves. And Trump has said to them in private like, hey, let the U.S. lead the way,

don't do your thing until we do our thing. You know, we don't want to have to compete with whatever you're doing. And of course, you know, whatever the United States says, it's. Okay, yes, sir, of course, sir. So I wasn't in the room. I don't know if it's true or not, but I have to believe there are a lot of other places in the world, you know, beyond the few that we know that have Bitcoin strategic reserves ready to go

and we'll jump on the opportunity as soon as the U.S. sort of leads. No, I completely agree. I think the energy-rich countries are going to be the ones that do it. And ultimately, if you're selling your energy, you're not going to put it in treasuries or dollars that are melting away. I think they're going to come to Bitcoin. And again, if you have excess energy, it's just another way to accumulate. I think that's going to continue.

I think that's going to progress. I think we've passed the Rubicon and we're just seeing the game play out but it still will take a while. Now, other things I want to touch on here today, I've got a suggestion, something for everyone to check out. I did want to point this out because I do think it's very interesting times that we're in and it's important for Bitcoiners to be a part of those kitchen table conversations

to get out there to let people know like, hey, there may be a better way and to be involved. I think ultimately we should be involved. And so we had Bitcoin University, Mr. Matt Crowder, amazing stuff. I'm pretty sure daily at this point, too, love his work. There's something about his tone and delivery that I found absolutely just delightful. I don't know why, but I've just grown to love it, right? It's like he just instantly recognized that voice.

Anyways, he went out on a bit of a olive rancher, a bit of a, took a little bit of risk here, and kind of talked about his history with the lead up to the Iraq War. So we went a little bit off the Bitcoin topic because he felt it was worth sharing how he was kind of fooled and duped and his experience and how he was wrong. in the lead-up to the war in Iraq and what a disaster it is, is and was. And I worry that the same sort of thing is happening here, too. So you haven't checked that out. Maybe check out that one.

Go and check out the rest of his wonderful work there over at Bitcoin University on YouTube. But I do think it's important that Bitcoiners are making themselves part of this conversation. If nothing else, to try and move the needle and try and have things de-escalate because definitely is eating up a lot of attention and getting worse as things progress. Additionally, if you guys self-custy, it's important. and if we're worried about the government, which we all should be to some extent. Not a bad idea. Ben dropped a recent tutorial on how to do some non-KYC buys on hoddle-hottle. If you haven't started checking out the privacy tools and non-KYC tools, again, it's not something you necessarily have to do right away, but it's worth exploring.

Additionally, Ben will be back. I promise he will be back next week. And if you're in the Calgary or Alberta area, we've got the SAT market coming up here as well too. So if you can, I believe it's June 27th. It's the Friday before the Bitcoin Rodeo on the 28th and the 29th. Come, we've got a Bitcoin circular economy right here in Calgary. Come hang out with us. Come check it out if you can make it down. And if you're coming for the sat market and you're coming for the rodeo,

Ben and I are also hosting a workshop and kind of advanced tools, as well as privacy tools and group multisigs. A lot of fun stuff in person, a Banff retreat. We would absolutely love to have you there. And with that, Gary, I think is there anything that you want to add, my friend? I don't know. I guess one final thing. We enjoy interacting with the people who comment.

And one person here said, I do have free Medicare here. And I don't hate that. Hey, whatever your opinion is, let's find us at least be honest that nothing is free. It's taxpayer subsidized Medicare. And if you're cool with that, hey, that's your deal. But it's what it is. Let's at least be honest about it. I will tell you, as somebody that has quote unquote, free health care in Canada.

I really wish that I didn't and I could buy something else because it's absolutely atrocious. The wait times are awful. You can't get a doctor and the service is shit. And with that, guys, this has been your weekly session. I am Nathan with the BTC sessions. This is Gary with the BTC sessions, my co-hosts on the podcast on Tuesdays.

I have one with MadeX. Go back and check it out. And we'll talk to you soon. Later.