The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - Saylor Is TRAPPED Under The STRC Yield - Another BIG Bitcoin Sale | The Canadian Bitcoiners Podcast

Episode Date: July 7, 2026

77 Bitcoin kidnappings logged in France since January — and Canada isn't immune. A Toronto CEO was ransomed for $1M. Saylor sells $216M in Bitcoin. Carney admits climate defeat. CUSMA gets rejected. This week on the Canadian Bitcoiners Podcast: French Interior Minister Laurent Nuñez confirms 77 kidnappings and extortions targeting Bitcoin holders since January 2026 — already past all of 2025. Ledger co-founder David Balland had a finger severed by his kidnappers. Then it hits home: Toronto's WonderFi CEO was forced into a car during rush hour for a $1 million ransom, and a B.C. family was held hostage overnight. Joey and Len break down why being loud about your Bitcoin stack is now a physical security problem — and what actually protects you. In this episode of the Canadian Bitcoiners Podcast:- The global Bitcoin kidnapping wave - France's 77 cases and the Canadian parallel nobody's talking about- Strategy (MicroStrategy) sells $216M in Bitcoin - is Saylor's playbook cracking, or is this just treasury management?- K Wave Media's 10,000 BTC dream collapses to zero - the corporate Bitcoin treasury reckoning is here- Mark Carney concedes emissions targets will not be met, pivots to a new energy plan and a west coast pipeline- CUSMA joint review: the U.S. declines to renew, and what it means for Canadian trade- Toronto's FIFA World Cup bill: FIFA cashes out, taxpayers cover $380 million for six games- An Ontario judge exposes CBSA's 577,739-case deportation backlog through one repeat LCBO thief- Plus: a Brampton Ponzi scheme, Montreal's rental relief, BTCPay's new tap-to-pay terminal, Wasabi Wallet's mandatory upgrade, and a clipboard-hijacking cautionary tale Bitcoin doesn't create the incentive to overpromise and quietly walk it back - governments and corporate copycats do that fine on their own. Self-custody still means being your own bank. Just don't be a loud one about it. Sources: BeInCrypto, CoinDesk, CBC News, CTV News, Global News, The Epoch Times, The Globe and Mail, Global Affairs Canada, Parliamentary Budget Officer — Canadian Bitcoiners PodcastWebsite: https://canadianbitcoiners.comX: @CanadianBTCPodSubscribe & turn on notifications so you never miss an episode. ————————————————————————————————SPONSORS 🔒 easyDNS — Canadian-owned, ICANN-accredited registrar that has accepted Bitcoin since 2013. Domains, DNS, email, hosting, all without selling you out. Use promo code **CBP Media** for 50% off your first purchase, no limits.→ https://easydns.com ⚡ Bull Bitcoin — Canada's non-custodial, Bitcoin-only exchange. Founded 2013 in Montreal. They never hold your keys; you self-custody from day one. CBP listeners get 25% off fees for life.→ https://app.bullbitcoin.com/registration/cbp 🔥 256 Heat — Hashrate heaters: Bitcoin miners purpose-built to heat a space. Every watt of electricity becomes heat AND hashrate, so you're warming your space and stacking sats at the same time. Custom solutions available. Tell them CBP sent you for a discount.→ https://256heat.com 🎓 Bitcoin Mentor — One-on-one coaching to take you from "I bought some Bitcoin" to true self-sovereign ownership. Wallets, keys, collaborative custody, inheritance planning, node setup, the whole stack. 30-day money-back guarantee on every package.→ https://btcmentor.io/aff/joey———————————————————————————————— FOLLOW THE SHOW 🎙️ CBP — https://x.com/CanadianBTCPod👤 Joey — https://x.com/joeytweeets👤 Len — https://x.com/thebtcpricebot———————————————————————————————— #Bitcoin #CanadianBitcoiners #BitcoinKidnapping #MicroStrategy #MSTR #Saylor #Carney #CUSMA #FIFAWorldCup #SelfCustody #BitcoinCanada #CBSA

Friends and enemies, it's Monday, which means Michael Saylor is selling a huge point of his stack. The Canadian government looking to arrest you for saying things they think might be misinformation. I wonder how they're going to come to that conclusion. Get that and a lot more talk about tonight. The first is always the introduction. So, you know, the government can say whatever they want about this thing not competing. It's for black market only. It's for this for that.

But they're really treating it like a threat. And one of the things that can't be attacked is your self-custody Bitcoin. And one of the things that can be attacked is the ETF. Can't be exposed to that. That's my view. It's not a good idea. And by the way, that'll hit MSTR too. It'll probably hit other stuff as well.

Friends and enemies. Welcome back, Canadian Bikwiners podcast. Friends and enemies, welcome to the CBP. Want to be better informed listed to Levinjoie. Spots is taking care off right off the top. Oh, Bitcoin and Easy DNS, the media is feeding a slop. Are we feeling inoculated or are we not feeling inoculated? Or are we not feeling inoccurating?

How are you doing? Good to see you. I'm entertained. On so many levels. Hopefully you are in a lot, you entertained. Oh, man. I am hosting Bitcast last week,

this week, and I think for half of next week, too. And so I've been trying to parse my opinions and give the boys some room to breathe there as any good host would. But I got to tell you, it feels good to have been right about Mike in a lot of ways. That chat has, you know,

it's a busy chat. There's like five, six hundred people in there, another whatever, 2000 on Twitter. A lot of sailor apologists out there. And I don't think that it's wrong to be pro sailor at this point, but we got to couch your expectations a little. Do we not? I think that's fair to say. We're going to talk about all these things, obviously. But first, the sponsors.

Easy DNS is the best place for you to buy a domain or the way. And obviously, you know, we don't often mention anymore that Mark is like the anti-takedown registrar, but he is. And given the news today and over the weekend about our government looking to sue people who are posting misinformation online, worth mentioning that Mark, along with the Canadian Constitution Foundation and some other outfits saying, look, if you get into hot water with Mel Jolie and the crew in Ottawa, give us a call. We'll take care of it. Mark saying the same thing. We're not going to take you down.

We've been here before. And these days, that's ever so valuable. Use our promo code. CBP Media. Go there to, you know, stick around. Virtual Private Server stuff. You got a Claude Blah. You got many different options for fun and excitement over there,

which you cannot say for other providers. And be on the lookout for more coming from ready.ca soon. Starting this Sunday, Mark and I will be doing a Canadian ready. dot Cia live stream for half an hour or so every Sunday night, which I'm excited about. Oh. Yeah, it's going to be good. We've got to get that thing off the ground. Never a better time to be prepared and hunker down if that's what you're into.

And I think that that's what I'm into these days. Are you ready? Yeah, ready. Take the test all those things. But anyway, this is an easy DNS read. Go to EasyDNs. The code is CBP media. You get 50% off your entire cart and no land acknowledgement required there.

So enjoy and have fun. Who's the other sponsor? Bold Bitcoin. It's a great place, great time, great opportunity to buy Bitcoin, great place to sell your Bitcoin. Michael, Seller, if you do want to use Bull Bitcoin to sell your Bitcoin, feel free to use that. Don't forget to use a referral code to over it. up an account. So they are not custodial. So maybe that's not going to work from Michael Siller because they use somebody else to hold on to their Bitcoin. Either way, Bull Bitcoin,

they have you covered because, look, how many times have we talked about exchanges out there getting rugged, people relying on somebody else to hold on their keys? You don't have that opportunity with Bull Bitcoin. In order to do a buy with them, you have to provide a Bitcoin address. It may not have to be a write-out address, but it still has to be an address to provide them or else they're not going to send you. the Bitcoin and that's what you want from an exchange somebody that that is non-custodial and they care about your privacy how many other exchanges out there have had issues in the past well Bitcoin not so much because why they do everything in-house they build stuff in

house they manage their privacy and they make sure that your information is safe furthermore you can pay bills with your so you know got to pay credit card bill car bill mortgage payment you need your Bitcoin to pay that Can't do that anywhere, but Bull Bitcoin gives you that opportunity to do that. So check them out if you have not yet open an account. Canada, Mexico, Costa Rica, Argentina, Western Europe. Who knows where else? It's expanding.

It's growing. They're around. Open an account. Do it now. If not, you're an no-coiner. Do it now. Drop a like on the video, subscribe to the channel. Leave a comment, all those good things.

Do you want to do some boost? Are we still in the bare market for boost? No, no. We've got a couple of boosts. We've got top W. And he writes in for 250 sats. He says his dad is 83. And in the last three years, he has started focusing on building a fiat so he could leave a lot to the grandkids and great grandkids.

Unfortunately, he got scammed for 2K. And he agreed to have himself and his sister approved up any plan over $100. Love that. So there you go. That's a good, that's good family, you know, ethic there, taking care of a pop when things get tough for them a little bit in the, in the environment that we're operating in these days. And then Bonn 21, 21, Sati says, let's get the boots back up in a big salute. We appreciate you. We just had, I haven't sent out.

I haven't sent out the invoices yet for last month. We just had a great month on the audio side. So people are listening. I think that people generally, though, I hate to say this because the fountain guys are doing good work, but I feel like the fountain thing is really falling apart. That platform has not met expectations for many, many bitcoiners. And so it's kind of sad. I hope that they get that turned around. I know the problem before was with like the caching of memory and keeping like the old downloaded podcast and stuff off your phone and having the model of the lead or something like that.

There was some other issues. but that was a while back now. I don't know if they ever solved that. And they have been trying to their credit to get people to, like, host a podcast on Fountain as opposed to on Anchor or Spotify. But it's just, you know, it's not there. The convenience. The idea makes a lot of sense because streaming stats to people to shows that you like.

And so you're providing them value and you're doing it with your Bitcoin. So you can stream it every second or you can send a boost. The idea behind the whole model makes a lot of sense to me. But we'll see if you know, I want them to succeed. But we can talk about that another time. Could you hear me okay? I can hear you fine. You're lagging a bit on the video side.

But we'll see if it, if it rebounds, who knows what's going on to stream here. And a basket. So, MSTR, sale again today, quarter of a billion dollars in Bitcoin out the door, back to the market, back to the cold card crowd. That's what I said in the beginning. Do you feel inoculated? I don't like, you know, he made this case, I guess, a month ago almost, that he was going to sell Bitcoin to inoculate the market and sold, I think at the time the number was 32. You know, just to give, I think, a fair summary of events and a fair summary of feelings, a lot of people said that after that 32 sale, there was another buy for, you know, 1,500 or 2,000 Bitcoin, whatever it was. And he's done some buys and sells since then, obviously built the cash reserve.

there was the monetization stabilization program that he launched a few days back or a week or so back. And now today, an enormous sale, his biggest to date. Like I said, close to a quarter of a billion dollars in 215 or 218 all said. You know, that basically erases

all the bias. He's recently done, right? It erases this idea that the little bits of Bitcoin he'll be selling will be to complement the cash reserve. And I think this to the benefit of MSTR shareholders will put to bed any further dilution

of the shares. But I mean, I cannot imagine buying any of these vehicles at this point. STRC still trading below 90, below the par value of 100. I won't use the term peg, but the term par of $100 U.S. MSTR

not really seeing the strength that he needs to meet the obligations on the debt side starting next year. And again, Len, I get the feeling people are tired of the communication strategy. Their CEO today, Fong Lee, I'll see if I can pull up the tweet, talking about how MSTR are starting to change directions in terms of what they're doing as a company. So, you know, we've obviously talked a lot about how they were the original Bitcoin

Treasury company. Well, how's this now? They are now a capital issuance. They move from capital issuance to active capital. capital management. No, they're not going into a unique accounting company in which now they have to start declaring the Bitcoin sales and either a capital gain or capital loss because those 32, not too long ago sold it.

How much did you buy each of those 32? Did they make them any money of it? They have to now report this. Schiff, hammering them in the comments too there. You're evolving from an early stage Ponzi to a mid-cycle Ponzi. God, that's a banger. This guy is... You know what I find to be rather interesting, though, is the price of Bitcoin and the price

of the company of MSTR, the stock's price, they didn't get hammered away. I thought it would initially. Okay, wait a minute. Why do you think it should have gotten hammered? The price of Bitcoin, when you start hearing that... When he sold 32 Bitcoin and it was reported that it was done, the price of Bitcoin wasn't kind to that. Now it was just 32. Now he did 100 times that in terms of this, a little over 100 times that. And the price of Bitcoin immediately went down, but it then recovered shortly thereafter.

And the same with the stock price. I would have thought both of them would have went down significantly after hearing this because then there would be expectations that they would be selling more in the future. And, you know, the way Bitcoin goes, it's off vibes. And if people are getting the impression that there's going to be a lot more coming down that's going to be added to the supply out there. Or not the supply to the supply to the, the sell price at least is going to just add to the cell pressure. Then I thought that people would start selling it, the I bit, especially, you know, start dumping that stuff and then just create more and then just go from there. but it didn't seem to be the case for whatever reason. So I find that rather interesting that it didn't react the way I thought it would.

Initially it did, but then it rebounded. So who knows? I mean, maybe in the end, at least devaluation of the company will remain the same if they do this properly. I mean, it might remain the same, but isn't it fair to say that, like, I don't expect the price to nuke on this because the whole point of this whole thing, this sale operation, the stability operation, the monetization operation, and Joe Consorti's going to, you know, he's going to give me shit about this next time I talk to him. But the whole point, I think, is that we need to start thinking, like, this is good for the price when they sell, right? That's the messaging they've been

trying to pull forward. This is good for the price of the Bitcoin. It's good for the price of the company. It's good for the par of MSTR. It's good for all these things. But I don't see that. And I don't think the price of Bitcoin is going to nuke because, let's face it, how much lower can it go, knock on wood, than that 50% drawdown? Given that we're, you know, we've experienced a number of like, I think, more important macro factors that would cause a decline than Michael Saylor selling, honestly. Oh, well, you go back to 2022. And the combined amount of Bitcoin that was released to the market from Terra Luna, from Voyager, digital from Celsius.

I mean, you're saying release to the market. That's a bit of a stretch. It wasn't released to the market. It was a forced sale. There was no OTC attempt. There was no attempt to maintain the price. None of that stuff. It wasn't a finesse sale.

It wasn't released to the market. I don't know how you could finesse selling 140,000 Bitcoin, which is what they have on their balance. I'm just trying to say if they have to liquid it everything, I go to zero. There is no finessing of this. It's just basically it's going to go there and 15K would be probably seen once again in terms of the price. Maybe lower than that. Because, you know, just go back a few short years ago.

You know, it's not that hard to just figure exactly what happened. And what, you know, I saw it, you saw it. We talked about all the episodes that took place at that time. And this would, if they decided to sell all this Bitcoin that they have, which they probably are going to do that. it would just nuke the price and it would just it would take some time to recover but it would certainly nuke it like almost go down to four digits i would say anyways there's one thing i want to just mention is that with all this yeah i the best way to buy bitcoin i'm not asking the method i'm not asking which exchange but the best way to buy bitcoin is at least in my opinion

and I think you as well is to do it conservatively. We, you and I, and I hope people aren't going into debt to buying Bitcoin. We're using extra money. We're using money that we have accumulated, stuff that is above and beyond what we have are obligations. And we're deciding, you know, instead of going to the movies, instead of buying some smokes or beer or whatever or fucking maybe, we're buying Bitcoin. That's the best way to do it.

And if a company does the exact same way of doing it using profit, you know, stuff that's just stuff they have, rather than just putting it into the bank, I think it's hard to argue against that way of doing business. And the thing that, I think that I have the biggest beef I have with MSTR, I don't know, I'm sure exactly you.

It's just the D-Gen mentality, just borrow, borrow, borrow. Because that works great until it doesn't. It hasn't, we haven't yet had a catastrophic point where they had to start selling on mass. There's selling a little bit. But who knows what's coming out next week, next month, next year. And if they bought this with extra money, they could always just hold on to it, regardless of the price of Bitcoin. It's just something extra they had. And that's the best way anybody should be buying Bitcoin.

anybody, any entity, even a country, that's the best thing to do. By doing that, you're not shortchanging yourself, you're not shortchanging your shareholders, your citizens. You're just essentially just using the extra to buy an asset you believe that's going to appreciate far more than any currency out there. Okay, fine. The only thing I would know, and I'll just point to some of the comments in the chat here from Duncan, like, you know, I guess he said, I guess MSTR bought back all 3,500

coins today with an ATM, they apparently are not going to use out the money dilution anymore. So you want us to do that with the MSTR, you know, the MSTR shares. It's, it's hard. And I've heard this S&P inclusion story an awful lot. I honestly think that this is probably the best thesis that he needs to prove to market participants that basically two things are true. One, that he can sell Bitcoin and not take the price of Bitcoin. and two, he can sell Bitcoin and not take the price of his stock.

And so that's, you know, I think those are two important factors. I'll leave you with one more important factor that I think you're going to start to see more and more of. Trump and his kids are clearly long Bitcoin. They are buying Bitcoin in their company of Great American Mining or whatever it's called. That's definitely not the company. That's Marty's company. It might be called American Bitcoin Mining or something like that, the American Bitcoin Company. they're buying Bitcoin.

They bought another 500 today. Trump, obviously, in his, in his disclosures last week, 900 pages of disclosures, by the way. And he holds Bitcoin in self-custody in the disclosures that is not with a custodian. It is in self-custody. So, you know, these guys are long as long gets. And they're in charge. So I want to hear, I want to hear more from him on the days that Sailor is in the news and if that's the case and I'll know these guys are working together on something.

And, you know, I heard him talk today about how they might let Bitcoin or start putting Bitcoin in the Trump accounts, both for kids and for adults. Like all these things together tell me that there's, there's something going on behind the scenes. I'll just, I'll make one more note here for people who are listening on audio. The reason that Sailor's not going to do at the money issuance of the stock anymore is that in his release last week, the one we talked about last week a bit, he says he's not going to use at the money dilution, quote unquote, irresponsibly or something like that going forward, which really should tell you two things. One, he's been using it irresponsibly and two, he knows that he has to stop doing that to protect the underlying value of the company.

So interesting stuff happening in MSTR land. Are you still a sailor owns more Bitcoin in 10 years or are you now a sailor owns less Bitcoin in 10 years? A question. I'll go to it less. less, okay. Eventually they were going to sell, right? I mean, we've been saying it for a long time on this show, long time. Yeah, it just, I don't know when.

I mean, you've been saying it was going to be more sooner. And I was always under the impression I don't fucking know. And the reason of being, like, my rationale is they're a company. They're not going to hold it until the end of their days. Eventually, they're going to have to sell it because no company lasts forever. And once a company goes tits up, they have to liquidate. what they have and then Bitcoin will eventually get liquidated. Yeah.

I'm wondering if the amount of debt that they have is just, it's just too much for them. It's the weight is just enormous. And they're just not able to meet the obligations without massively selling Bitcoin. And then you mentioned it. As they start doing that, then it decreases the value of the Bitcoin and then the valuation of the company becomes. Yeah.

The flywheel runs against them for sure. It will for sure. Yeah. And that's the thing where it works until it doesn't. If it was just cash he had laying around and you bought it, who the fuck cares? The price of Bitcoin could go to one penny. It pissed off shareholders. But they wouldn't have to be forced to sell it to pay off debt that they used to buy it.

Right? That's why I just look at doing things responsibly. And this is an example. and I hope in the end people look at this and take away, get a lesson of it. It's a free lesson. Somebody's going to pay. Hopefully it's not you and not, you know, or people are invested into it. I'm certainly not invested.

I don't give a fuck. So that way to buy Bitcoin is just use your extra money. Who cares at that point? Yeah. And if you're living on a Bitcoin standard, I understand it. Then it's a real fucking problem. But I don't live on a Bitcoin standard yet. And you don't live in a Bitcoin standard.

yet. I'm closer than you probably to be honest with you. Probably. You probably are. But I'm not on a Bitcoin standard yet. Nothing wrong with that. It's a fiat world still. So stack your stats.

100%. Yes. Spend your shit coin tokens. Where do you want to go next? Where do you feel like we should take this program here? We can talk about France. Not about there's going to be a potential unrest in the country because

of an upcoming match. It's more of a hotbed for kidnappings and extortion for Bitcoin and shitcoins. And in fact, the Interior Minister of France, he came out this past week and he said that 77 were of these extortions and kidnappings were reported just this year in 2026. We just entered July. This is number go up. In 2025, the entire year only had 45. reported in France.

So this is going up quite a bit. And you know the old saying in times of a gold rush, you sell shovels. In France, stores are stocking up wrenches and are selling this to citizens and want to be citizens. And not citizens too. So I don't know how accurate these numbers are. But I, this is what's being reported. I have a feeling this is rather low given. K-YC-free Bitcoin, how it was a team in the past.

But they say a stat shows that roughly 11% of the French population holds Bitcoin and or shit coins, 11%. So that's one in nine people, right? And just do the math, right? So if you get a room, put nine people in there, odds are one of them have it, unleash the $5 wrench. And you have something that you can get from that whole ordeal. The odds are in your favor.

It's gotten so nutty over there that the French government. they launched an emergency rapid alert system. And there's a three part plan including more intelligence sharing, deep cooperation with crypto businesses, and best of all, Joey, more surveillance. Right. So already 200 people have been arrested to date using these new measures. and the people who are subjected to these wrench attacks, well, you know, they're morons for the most part.

Not all of them, but a lot of them are morons. Because what are they doing, Joey? They're flaunting their wealth. They're going on in public showing off the new Bugatti, the new Lambo, whatever. Or they go on social media and do the exact fucking same, right? Like you got to be careful with what you have. And, you know what?

There's also other issues, too. There's some data leaks over there causing issues like ledger, corrupt officials, tax officials over there, stealing data and selling it to people. If you look at it, people literally have spreadsheets of names and addresses and how much people have. It's insane. Completely insane. That's based off the tax officials selling the information. But what I'm trying to get at is be careful with what you have.

Don't flaunt it. It doesn't make sense. It'd be nice to, you know, to show off. Instead of driving the 25-year-old jalopy, you get the 15-year-old jalopy. Get, you know, make sure there's a little bit of rust in it, a few scratches. That's the way to go, right? But don't fucking get the Lambo. That's not worth it, in my opinion.

Don't forget, too, like between the ID gathering, digital ID gathering and the number of, like, honeypot data breaches. is there's been in Europe over the years and even North America. The likelihood that you give up your name and address and it doesn't get leaked is basically zero. That's number one. Number two, the French government will either kill you by importing some 50 IQ migrant who will just like murder you at a bus stop or they'll kill you by not allowing you to turn on your air conditioning maybe in the winter or they'll kill you by giving your mailing info away along with your crypto holdings to, you know, the highest bidder from

the tax office clerk. amazing ways to die in France. Many, a myriad of ways that the government will kill you over there. None of them are made, but they may as well be. Maybe we'll introduce some of these programs in Canada to get the made numbers down

while still reducing the population in a significant way. Don't think this is a good idea? Can we get some of this over here and maybe doctor the stats up a little bit? We can. Then can we have a made-in-canada solution where we actually develop our own wrenches here and sell it.

Right? Buy Canadian, buy Canadian. Right. We're helping out the industry using Canadian steel and things. Oh, God. Let's do that. What a world. What a timeline this is?

What's next? We should have talked about the last story, but I fucked up. This Bitcoin Treasury company called K-Wave Media. Nice. K-Wave. I never heard about this company before, but it's a, actually it's a former Bitcoin treasury company because, well, okay, I'm going to give you some little bit of groundwork here. It sounds like neither of us had a fucking clue about this company.

It's a South Korean entertainment and K-pop media company. It's NASDAQ listed, by the way, KWM. You know, I can't figure out the crossing the bridge of going from Korean entertainment and K-pop to fucking being a Bitcoin treasury company, but whatever. A short time ago, the company, they released a plan. They wanted to build a treasury, a Bitcoin treasury of 10,000 Bitcoin. And that was going to be backed by $1 billion in financing, which they didn't really give a plan on how they're going to get that $1 billion. Nonetheless, that was then.

K-pop girl bands. What else? Could you still get $1 billion? Maybe $1 billion pesos. But have you seen these K-pop girl bands constantly? They're stuffed with people. It's like a sardine can. All right.

Maybe that's, you know, maybe, maybe they could do it. But anyways, I don't think so. I'll tell you why. I'm going to say in a second. They had 88 Bitcoin, 88, Eric Lindross, they sold all that to pay off debt, $6 million in debt. So the strategy of the buy, high,

sell low. Interesting. Love this strategy. It's the way to go. So they did that back in 2025 where they bought the Bitcoin. They only bought once, the 88. They never bought again. That was the height of paper Bitcoin summer.

The stock was trading this past weekend around 15 cents per share. And they got to do a reverse split because, as I mentioned, they're a NASDAQ. And they have to meet a price compliance in order to be continually listed on NASDAQ. So they have to fucking do a reverse split. That's not a good sign. but this is truly a D-gen company. You want to know why? Because not only did they buy the Bitcoin,

they bought the Bitcoin on debt, right? Not even just that. They bought the Bitcoin on debt and then sold it at a loss. Not only that, Joey, buying the Bitcoin, buying a Bitcoin on debt, and buying into Bitcoin, that's selling a loss.

They're now fucking shifting to AI infrastructure. This reminds me a lot. My bingo card is so full. This reminds me a lot of somebody going on Binance back in the day, looking at a shit coin that pumped and just chasing it, going all in and watching the value of that go down in the next few hours. It's like just continually chasing the pump. If they, you know, if they were having debt obligations before, they had to sell this

Bitcoin to pay up debt, they're in for a real surprise because AI is anything but fucking capital hungry. Like it's going to just fucking eat away, right? It's going to eat so much fucking capital from them. This company, DGens, as of May of 2026, just two months ago, they had $48 million in debt. Market capital of the company, Joey, 10 million. 48 million in debt, 10 million is the fact of money. Let me get my abacus to see which of those numbers is greater.

I got to double check. It reminds me a lot of Western nations balance sheets. Great point. Great point. So I look at that, it's, we got these capitulation of these Bitcoin treasury companies or wannabe treasury companies. Pleditor made a post and he was talking about, he posted eight different companies. Burr, BR, they sold off. They're starting to sell Bitcoin.

NACA, same thing. EMPD, never heard of this fucking company. They sold off a bunch. Isn't that a rap group? EPMD. I'm just kidding. Erica Parrishman. I neednium ducats hold it down.

Keep going, sorry. BTCFF selling. Sats.L selling. SQNS selling, EXOD selling. Fold FLDD selling. BTC selling GNS selling. They actually, the last two have zero. Yeah, this is it.

This is the end, I think, of paper Bitcoin summer. A lot of these companies I mentioned, like the last one, GNF, associated with Natalie Bernal and Safedin, you know, SQ&S, Corey is involved with that. NACA, we have David Bailey, BRR pump. Even with the influencers working alongside it, it's not working with them. The question you have to answer now if you're a treasury company fanboy

is what is the mechanism by which this idea can continue to proliferate and you don't get wiped out by people who just want to hold MSTR? and buy nothing else? What is the method by which you will continue to be a Bitcoin treasury company and not be forced, because really it is a forced transition, forced into AI, forced into data, forced into whatever, and lose the identity of the treasury companies. I don't know what the mechanism is. And I think a lot of people, I think a lot of people, even in the treasury company space, would agree with that.

Like, if I look at the way people talk about other companies that are not MSTR, in MSTR circles. They'll see the same thing, that these things are, you know, sort of the shit coins of the space, and you might get some asset rotation, but nothing meaningful, certainly nothing with conviction. And people always be looking for the next hot kettle, you know?

This is the case in a lot of things, stocks, crypto, you name it. And, you know, I don't think that there's really anything else to be said about these companies at the moment. The only one to me that looks like they might have an edge is Seda. They're still buying Bitcoin. They have no encumbrance on the coin or the stock or their balance sheet. So like those guys are probably going to be okay.

Now they are a lot smaller, of course, and don't have as complex an operation as MSTR does. But that's probably to their advantage, you know. I think I said on the show last week, either on this show or on BICAST, that the problem Saylor is having is that he was the first mouse to the trap. You know, he came up with the digital credit thing. But the problem with the first mouse to the trap, Len, the problem is that they get killed. It's the second mouse who gets the cheese, right? And so you got a lot of these guys now kind of, you know, biting around that trap,

seeing how hard it is to get a nibble. And I think only a few of them really get it. Sata is probably one, or ASST, I guess, is probably one's strive. But again, even the companies that get it, are people buying those comments? in stock because they want the Bitcoin's Yeah. No, I don't think they are.

I don't think they're. I think they're buying the dividend thing. The K-wave media, that's they have the K-pop and entertainment. It's not free entertainment. Obviously, you're buying into that because you are long with the

You're long perverts. You're long perverts. Yeah. Right. So they, you know, they look at that or like, okay, yeah, the treasury company, okay, well, now's gone. I mean, the AI, it sounds good.

But I do like the field. of what are they filling up over there by the way? I just because are they small like are they small clubs? Like there's a couple of K-pop. There's a couple of K-pop bands. The only reason I know this is because I'm a big White Lotus fan and one of the girls in White Lotus, I think it was last season, the season before, I forget. Great show by the way, HBO.

One of the girls on the show was from a K-pop band and I don't know like who she is or what the band is, but my wife pointed out to me that they were in Toronto. this was about a year ago, maybe a year and a half ago now, they were in Toronto and sold out the ACC and then sold out like another few venues in the States. Like we're talking 50, 60,000 people, some of these venues. So they can fill an arena here. I'm sure they can fill one over there.

I don't know if it's to the tune of a couple billion for Bitcoin, but I suppose we'll see. They should be funneling all of the revenue they get from that to buy Bitcoin. Just do show after show after show, run these guys to the ground, do three, four, shows a day. Do it old school. Minimum three, four shows a day.

Don't hold back. There's a story, kind of story we talk about often enough on this show and it's as soon as I mentioned it, somebody posted on the Bitcoin subreddit, somebody lost some stats. Apparently this was a small amount, only 3.4 million sats. So it's a fraction of a Bitcoin. still it's a good lesson for this guy and you know i think he got lucky because he only lost a fraction of his bitcoin but it's also a good lesson for us as well but he claims to have never shared his word with anyone but but he did mention he copied the seed phrase from his cake wallet to test

out blue wallet on his iPhone good idea and he says he wasn't sure if he cleared his clipboard And he suspects maybe a malicious website or an app out there potentially was able to read it while browsing. So he learned his lesson by moving the rest of his Bitcoin stash into a fresh wallet with new 12 or 24 words. And, you know, it's a good lesson. You know, never ever expose those words to a computer that is. hooked up or device that is hooked up to the internet. This guy lost only 3.4 million sats. It could have been a heck of a lot more.

The same could apply to you, but you could probably lose your whole stack if you have your keys exposed to any computer or device that's hooked up to the internet. If you are creating a new wallet, new 12 or 24 words, and you do have to confirm shit, you have ways to do it. You could use TailsOS on a computer that is not connected to the internet. You can turn off the Wi-Fi. You don't have to connect any device to it whatsoever. And you could do that and you're able to confirm that is the proper way to do it.

If you have to have your keys on a device that is subject to the internet, totally, it's definitely not recommended. But if you have to fucking do it for whatever reason, encrypt the file beforehand. Have it encrypted. rename it something that's totally different. Why would you ever need to do it, though? I don't know.

There's no reason. I agree. I don't know. But people are doing crazy things by just simply copying and pasting this, storing it on text files that could be parsed by a malicious file or malicious app. And if you are going to do this, which you shouldn't, fucking encrypt the thing and rename the file like Grandma's recipe for sponge cake or something like that. You know, something that's totally, you never fucking know what the hell it is.

this guy lost i just gotta go back only 3.4 million sets every time this shit happens every time it is a learning experience for you not to follow in this guy's footsteps make sure you you properly store your keys do it right don't be a post on the bitcoin subreddit because we will read it next week and laugh our asses off at you so be careful okay let me just all caps is in the chat. Good to see you all caps. Saying that PGP is a good free encryption tool and open source. 100% right.

But there's no chance, zero chance, that the same guy who copy and pace his seed words on his phone is going to use the PGP tool correctly. Zero chance. We could edge the way. Well, whatever. I mean, this guy's not going to, you don't learn the PGP tool with the seed phrase.

You learn it with something else. I don't care what else. You decide. But the other thing I would like to see, honestly, is I want these apps. I'm pretty sure apps can do this. I don't know if it's like an easy thing to implement. But I know with Shake Pay back in the day, you used to have to like, okay before shake pay was allowed to read your clipboard. And that was like a security feature they had baked in.

Why don't these other wallet apps have that feature? Like make sure you can't use the clipboard in those apps and just stop people from. even trying. That's that's that's that'd be like an easy thing to do I think at least on iPhone. I don't know what it's like on Android but they had this option for a long time and still we're still talking about this. This is not as bad as the guy who emailed the seed words to a few trusted friends just in case he lost it. That guy was a total dope. This guy at least trying to be you know individualist in his in his in his you know retard maxing but still you know a funny story all the same. Imagine I remember that story and he was doing so because he wanted to ensure

that his wife and kids were going to get the stack of Bitcoin in case something happens to him and could you imagine in his group of friends and he told him the keys one of them now has upgraded a house, upgraded car but you know

he can't figure out how the guy's like no no I was at the track I was at the track yeah bet it all on the accelerate horse that came in fucking first it keeps accelerating BitKit

and this these guys, they released a new watch only wallet. It runs through a browser. Yeah. And it's an, okay, these watch only things, I get it. It's an interesting way to keep tabs on your balance without giving that particular application the ability to move the funds. But using a browser, a browser-based type app, it makes me wonder if there's going to be security problems. Chrome.

You just don't do it. You just don't do it. You never do it. it. Yeah. Browsers are horrendous for security because it's a generalistic application. It's got holes that are constantly being patched. And every time it's patches one hole, it may create another one.

Just don't fucking deal with this. It's not, that's my opinion. It seems like it's just a potential for somebody to get access to figure out how much corn you have. Great for people in France, I guess, is, you know, another $5 retort attack who added to the 77. This could be the 78th. They say the code here is open source, which is nice, but still not something I would run. Personally, if you want to do one of these watch only things, Cove, pretty good, right?

Yeah, code's great. Yeah, like check them, check them out. Praveen does a great job doing that. Yeah. The browser. OpenSats, openSats sponsor to you, by the way. We like that. OpenSats.

So you get a couple levels of diligence there, right, on the app. Can't beat that. So anything I do with browser base, like this BitKit, I get it. It's cool, cool application. Not something I would run. So anybody out there that's using their browser in any way to interact with their Bitcoin to figure out, like, what's your balance shit like that? Stay away from it. It's just, it's not the way to do things.

I'm with you on that. I actually think it's like pretty commonly understood too, by the way, that watch wallets are kind of dicey. You know, the funny thing is if you can use. So let's talk about code for a second. obviously, Praveen, you know, a great friend of ours, friend of the show. When you use a wallet as a wash wallet, you don't want that to be the only function, and you certainly don't want it to be in a browser. Your preference would always be to import via QR code or I think it's BBQR or something like that

that Praveen uses on Cove as well. You can use these things to import your transactions and follow your transactions. And then also you can use that wallet to send if you have the device as well. well. Those kind of dual function wallets, the full experience is what you really want because it forces the developer to be more careful about the ins and outs of the code, I would imagine. Meanwhile, these watch guys are just going, okay, well, put your whatever, put your ex-pub in, put your blah, blah, blah in, and whatever function you want to use to get the transactions in there, this is how you watch them and Bob's your uncle. The thing that's completely

unforgivable in all this though is the browser. We talk all the time on Access of Easy, on this show. And you know, you hear it steady at work and from people you know, like, oh, yeah, I got compromised. My browser's not secure. You know, your antivirus is constantly telling you that it's blocking attempts to connect to your PC or your Mac. I guess not your Mac is PC only problem, sadly. But, you know, we're constantly getting attempted connections and whatnot to your PC and people trying to drop files in. And, you know, now in the era of AI and prompt injections, there's just no reason. There's no reason to be doing any of this stuff.

And this is a great example of people who are in Bitcoin not understanding how they, how they're supposed to secure the asset. And you know what else is true, Len? We talked a lot for a long time about how most of these problems, not most, but a pretty significant number of these problems are coming from OG Bitcoiners. Like they bought early, they've been holding a long time. They want to move Bitcoin or do something with it. They don't know how, right?

they got a piece of paper or something in their sock drawer with a couple of crusty boys next to it. And it's like, fuck, what do I do? I haven't, I haven't following anything. What's Jameson Lopsay? What's this guy say? That guy say. Tools are changing faster and faster.

And they're changing faster and faster because the threat models are changing faster and faster. And so you got to be on top of this stuff, man. It's something that you don't want to have to learn in a jam and you don't want to have to execute, you know, the first time, something important. you know, beside you around you, you want to be, you want to be fluent in these tools. And I don't, it feels like to me like a lot of people are not. And I include myself in that, by the way.

Like there's some things I don't know how to do with Bitcoin. You know what I want that my Chinese EV that I'm going to purchase in next little while. Because I copy and paste it into your Chinese EV. Yeah, I want that on the fucking screen. I want that to have my wallet on there is I know for damn fucking sure that information is not going to be sent back to the mothership. And I want my license plate to say. say BTC millionaire or something like that. Just something that's right.

IBT. Yeah, buy BTC. No shit coins inside. It's just something like that. Retarded. And you know, that's going to, it's going to fucking happen. As cars become more connected with our lives, people are going to, I can see this happening using the fucking cars to have their wallets and shit like that or the balances on

there. And it's going to be an absolute fucking mess. And then that car is just going to drive them right to the closest home hardware or home closest wrench. Right to the aisle that has those. Well, it's going to be like $9. It's because it's a fucking inflation. But then, you know, somebody's going to be able to use that.

You get a Sudanese street surgeon there ready to do an operation on you with something from the fucking hardware store. It's free. He's an engineer. Did you hear? Whatever. He's doing the word pro bono. I'll tell you that.

So VTC, PACE. pay server released something new called Terminal and according to Mr. Cucks on X, love that fucking name KU KKKS Kux Kuh

Follow me for more updates Mr. Cux. He says this could turn any physical counter into a tap-to-pay experience for your store. So no scanning required, no custom wallets just passing over your device and it lets the merchant create a static NFC

sticker for their point of sale so that makes the whole process seamless tap-to-pay experience so this plugin is now available for usage for people that have BTCP servers and what this could do it gives the opportunity for businesses like restaurants for instance take a place an NFC sticker on tables so customers can pay directly from the receipt with just a simple tap. And since lightning is instant, settlement is done right away. The businesses doesn't have to wait for days for settlement to take place. So it could be cleared for the credit card or also you have to do with the extra fees that you do when you're dealing with visa or master card. So theoretically, this opens up the doors for more profit for businesses like restaurants and shit like that.

their input cost, it really is only time. It's setting up the BTC pay server, funding it, making sure there's enough channels, all that shit. But it sounds cool on paper, but I want to see it in action. I want to see this thing actually work before we go on it further. It's just like anything like something sounds great on the drawing room, drawing board as you draw it out, think it out, talk it out. But as you apply it in reality, there may be snags to come along with it.

So I want to see what comes along with it. But on the plus side, this does help bring out the case use of a medium exchange, which Bitcoin should be used more in the future, especially as people have more Bitcoin. They want to start spending it. And hopefully tax laws change to make it more favorable to start spending your Bitcoin. So I do like these type of things. I'm not sold yet because I want to see it in action before I say this thing is great. But still, it's cool.

I want to see more medium exchange things that are built out for folks. Are you bullish on the idea that all these little vendors out there will use stuff like BTC Pay Server? No. So what do we, like, help me not to not to poo-poo the project, okay? But like what are we doing here? What is what is the goal of this? This particular aspect of just in general, like BTC Pay Server. Okay, like what are we looking to, what is the end goal?

What is the goal post for BTC Pay server? if it was simple to use that the whole process running your own node lightning node XCP server administering it running channels

all that shit that would be a wonderful end game right now it's there's a technical challenges it's very challenging it might be the most challenging thing

that like a Pleb level person can do is this set up so all caps are saying cash app and that's a easier way for somebody to do it This is for somebody that has the technical chops to do it themselves, and it's done within house. So I do want to see more of this shit built out, give people more opportunities to use Bitcoin as a medium exchange.

Right now, I understand the hurdles from doing so because maybe people have not yet accumulated a lot of Bitcoin. Maybe there's not a lot of opportunity to spend on businesses, but Cash App is opening up that. doors. But I think the biggest one, the biggest hurdle is the taxation laws. And I think that's a real hurdle for, at least for me that I could see it for myself. That's why it's preventing me from using it for the most part. I don't want to deal with the administration headache. How much did I sell it for? How much did I buy it for? I got a fucking report to shit. So yeah. I, uh, excuse me. Oh my goodness. What are you on? I, I kind of sympathize with, um, with the people who want to take payment. Like obviously, obviously I've become yeah I see do we yeah you're still lagging pretty bad but whatever we're dealing with it oh my bad that's all right

you could hear me it's your VPN maybe or something no I'm awkward I think I've been having an issue with my video car driver because I was gonna say it honestly it looks to me like it's like the fan is not running and the computer's getting hot

that's how it looks that's not one whatsoever I just have to do some work I may upgrade is I'm running Debbie in 12 I always wanted to blah I wanted to upgrade the WN13. Maybe this is just my opportunity to do so.

It's time. It's time. On the on the on the BT pay server thing, I sympathize with the tax regime thing. I think that's a big part of it. But the other part of me says the people who use that like that product, BTC pay server, they don't give a shit about that. They are the, you know, do whatever you want. Don't worry about the consequences types, which I admire.

But I am not one of those people in my current situation. So. Yeah. And like, again, I don't want to paint Rockstar and the people. who work on this stuff is anything short of, you know, great people. They're doing it for free. So, you know, he's not collecting a percentage on everything that BTC Pays Server takes. And it's obviously pretty widely deployable.

Now, let me ask you this. Last question on this. And we can go either to the next story or to the other side. No, we're notables after this. So let me ask you this. Bitcoiners seem to be on the vanguard with a lot of stuff. They're on the vanguard with obviously monetary policy and the thinking about, long-term time horizons and family formation and education and all this stuff.

It's one of my favorite things about Bitcoin is that when you talk to Bitcoiners, you're going to get people who are maybe a little out there, but are at least well-reasoned in the things they think, even if you disagree with the outcome. Why are we not using some of these incredible AI tools to build vehicles for Bitcoin adoption that we either didn't have time to build ourselves or didn't have the chops to build ourselves? I am, again, including myself in the ranks of those people.

people because I didn't do it either. I'm just wondering why we didn't. You know, what, that's a good question. Yeah. That's good. So who are the people building on Bitcoin? It depends on me by building on Bitcoin.

But I would say specifically like, like, BTC pay server is a great example. People who are selling lightning nodes. Great example. Like, like these are things that are difficult to do, but beneficial not only to the people who, who operate them, but to the network.

And we just didn't, it's been a year probably since like claude has been good enough to do some of this stuff there hasn't been a single fucking thing as far as i can tell everyone instead is spinning up like dashboards and ai newsletters like i use ai to write our video descriptions but i've never thought to do like fucking well the past year the the dashboard to figure out the bitcoin per share and shit like that is really taken off bull market that was taken yeah yeah so now with that ship being sailed with a sailor on it, I think we might be able to focus on other things. So maybe you're right.

Maybe it's possible to do that. Yeah. Maybe. I don't know. I don't know. Anyway, let's go a notable north. If you're still with us, thanks for tuning. And leave a like on the video, all that good stuff.

If you're, if you are on audio, you'll have to come back tomorrow for the back half. But I promise you won't regret it if you do because there's a lot of stuff going on in this country that you want to hear about. So we'll see when we see it. Take care. be like Mr. fucks.