The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #188 (Bitcoin News Stories) - America Votes, MSTR's $42B Raise, Fourth Turnings (Bitcoin Podcast)

Episode Date: November 6, 2024

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all right all right florida state joey let's talk about them yeah florida state because this is news to me i didn't hear about this their cfo florida cfo jimmy patronus great name sounds like a mafia boss doesn't it i was gonna say that yeah yeah don't mess with jimmy he states that the Florida state owns what they have, $800 million worth of crypto-related investments. Yeah. I am not sure what the breakdown here is, like how much Bitcoin they own or maybe, dare I say, ETFs or MSTR. But $800 million is what they own. That's a significant amount. And they say that they

have to deal with pensions and salaries of firefighters, teachers. And so they have to diversify their investments. So the fact that they're doing that, this might, like I see this and there's more states like Wisconsin, didn't their pension plan buy in?

Like, you hear more of these stories out there. Then Trump is also talking about this strategic national Bitcoin stockpile, what the fuck that means, but he's talked about it. So there's a lot of speculation what's going to happen, what's going to, moving forward. The price, look behind me, 900 almost 68 000 should trump win and it's not delayed win like it's an instant win you could tell and you know there's like a poll like a poll lottery ticket yeah what's going to happen to the price here nothing yeah

nothing it's going to stay stable you think it's going to stay like i think wherever it is i think everything i think the market bitcoin all this stuff is pricing in a trump victory and if he loses the destruction is going to be widespread and significant in markets i don't know how long it'll take to recover but yeah i think everyone's pricing in a trump victory so i think bitcoin you know you might get a rally to like 72 73 something like that but the 180 whatever k i doubt it no no no we're not far away from an all-time high we were very close maybe we touched it last week but an all-time high is definitely within possible you know it's within the realm of possibility it could happen yeah and should it eclipse that where does it go

from there i i you know you're like more of a chart guy where's the resistance where does he's it's 80 80 is the first real line where you wind up. I like Josh Olschwitz's pitchfork. That's a good one. 80 is a good place to pop some champagne, I think. But, I mean, ultimately, it doesn't matter. Boomers in the chat are saying the same thing. If Harris wins, you get some cheap sats,

and we just have to wait a little longer but you know it's it's interesting that there's states now state treasury state pensions whatever doing this stuff and being public about it mstr by the way is in i think nine different etfs now as well so you know you're seeing that come up faster and faster i would guess that they're using that as a uh proxy for bitcoin at least in some of these pensions i know and i know in some of the etfs that's the case we should put them in the cbp etf we didn't yeah what else is in there wilson footballs nhl 94 cartridges and i'd be there's a billion out there still yeah and i'd be only though not many and then And then, yes, MSTR.

I mean, look, other thing too to consider about all this stuff is there's at least some possibility that because of the fair accounting rules coming up in Q1, that some of these states, pensions, ETFs, whatever, want to add MSTR because it's going to really increase their, I think, EPS or value per share, some measurement. I don't know exactly what it is, but it's going to make it difficult for the S&P to keep them out of that top 500. And then once you have passive flows and all that stuff. So I'm not 100% convinced that when I see stuff like this, it's a Bitcoin bet necessarily. It could just be a, know we see what's happening with mstr it's hard to ignore the mstr story at this point you have to be sort of willfully ignorant but um yeah it's it's a good story all the same does dennis porter take any credit for this i didn't see any breaking so no no too bad he probably he's probably contributing at some level to this kind of story. Just FYI.

He didn't contribute to the next one, which is Cartwright. And that's the multi-billion dollar UK pension fund. And they announced they're going to be allocating 3% of their stash towards Bitcoin. And the investment time horizon is 10 years. It's not like they're going to go tomorrow. That's great.

So it's a slow thing. So they're... Yeah, so they got great so it's a slow thing so they're yeah so they got a shitload of of money that they could allocate towards this over a long time the one good thing about this is that from what i gather it looks like they're going to be doing self self-custody of their bitcoins they're not going to be relying on just simply buying an etf or something else they're going to self-custody i hope they hold their own keys in the end they don't just pawn it off to somebody else but if they do i have to give them credit it it finally is just these pasty guys and gals from britain with probably bad teeth they showed us the fucking way this long this group of people the fucking way if this works let's make this a copy

pasta for others to do the same thing. I love it. This is the thing I tagged you in a little while ago. Yes. Yeah. I really like this story. So they're going to use five different key holders, I think is the term they use. But they're doing self-custody more or less.

This is their model. Yeah. This is their model. So yeah, you've been saying this for like a year, maybe more, that one of these companies has to figure out how to do this themselves. And now these guys, instead of pension, has figured out how to do it, which is interesting. You would think there would be more guardrails for them than for an MSTR, for sure, but probably also just broadly speaking, a publicly traded company.

So this is fun. I like this a lot. I want to hear more about this. And Len, I have half a mind to reach out to our brethren across the pond and talk to them about the decision. Do you have any contacts over there that we could bring on? No, but fuck it. We'll show them the cold show people.

Yeah. Check out my feed. Did you know that you probably know this past week that the bitcoin white paper it uh yeah 16 years old right um yeah it was published uh bitcoin appear to appear electronic cash october 31st 2008 satoshi nakamoto was the dude or dudette or whatever that did it so outlined the technical details for this what we know what is what's all about and it was done through the public mailing list and really it was unproven concept at the time it's not like it was polished it didn't talk a heck of a lot didn't even talk about a cap if i recall correctly so there was a lot that had to have been discovered

or figured out over a period of time but at least this was at the very start of it it's nine pages only so people haven't read it go through it there's some technical stuff to it but still i have another story that's going to be tied to this we'll talk about in a bit but yeah i'm just nothing really to add aside from just another anniversary of this it's great if uh the bitcoin white paper was living in a democratically controlled United States, it would already be able to vote. It would not, it would be something else besides I can't go there. So let's talk about Bitcoin, all caps,

good friend of the show. He's not in. Yeah. And he, and it's tied to the last story because not commenting in the chat tonight because... Yeah, because his YouTube channel was nuked after the final video was published.

What was it? It was a read-through of the Bitcoin white paper. So as a tie-in to the last story. So it's the end of an era. And he... Unfortunately, it looks like that the bitcoin username or whatever has already been taken by somebody else insane so when hearing this that their channel was nuked and cbp may not be long for this youtube world so if you want to keep listening or watching us we may have to

migrate somewhere else right now we're on rumble i don't think we're going to get kicked off of that, but. No, Rumble's a free for all. It's like the Safari zone in Pokemon. Yeah. I feel bad for all caps because he's, you know, he's really being very level about all this, but he's an invaluable resource for a lot of people. Everything on that channel, which is branded with the Bitcoin, you know, name and all these, these different things like, you things like top search result, SEO type stuff, that channel has nothing but signal. He helped us get our show off the ground years ago. And I think he's posted some clips from our show over the years on that channel and on Reddit. And everything on the channel is really Bitcoin focused. And it's stuff for new people. It's

stuff for people who've been around. It's stuff for people who are looking to learn about something that's coming to the network or being proposed on the network. It's stuff for people who want to learn about some of the personalities around Bitcoin, all these things. And it's just a good channel with a lot of good stuff. And there's no reason for YouTube to nuke that kind of thing unless they are given instructions to do so or do it for some stupid reason, some copyright claim, whatever. There's some theories floating around out there about what exactly the issue was you know with bots and shit like that but yeah it's too bad i hope he gets the channel back because um that's a that's a big that's a big resource for the bitcoin space i think he may not agree with that but he's being humble that's a that's a big loss for us if we can't get that back yeah he would also post the bitcoin and beers chat

that would happen on the discord of bitcoin Discord, which is I love that chat. And often I can't attend it because it happens during working hours. So I've listened to it after on YouTube and it's I found it to be great. Now he's also on. I think he said Odyssey and maybe Rumble as well. So the least everything is not gone. It's there but on kind of a side note btc sessions was noting today on twitter or actually yeah close to shadow banner with his

channel he's noticing a drop off in terms of viewership for his channel he's got over 150,000 plus subscribers so he would be able to notice right away if something is going strange so he's seeing that like something is going strange with youtube slash google slash alphabet i don't know what the fuck's up we've never had a ton of traction on youtube i think our channel has like 2500 subs maybe maybe less i have no idea like most of our fun has been had on the podcast side so we haven't been you know targeted but at some point you never know right it's it's hard to stay above water if if every algorithm is constantly trying to turf your content or sending the back of the line and search results

and all this stuff my my bigger worry is that Spotify starts doing something like that because I still think a lot of people listen to podcasts and audio form, this one and others. I know I'm like that. I know a lot of people listen to the show are like that too. But if they go that direction, YouTube is already going that direction. It's going to be hard to get the message out about Bitcoin. And this is why when we talk about stuff like governments being afraid of Bitcoin usurping their power in terms of the currency, which is not for a workup, in terms of the currency, you have to at least consider that actions like this are being taken in advance of a more sweeping attempt to silence people who are trying to say, yeah, get out of

dollars, get out of CAD, get into Bitcoin. It doesn't feel like that. And it's not like, oh no, they never coordinate. Well, they did. Twitter Files tells you everything you need to know about that. There's a million emails out there between YouTube people and their Slack channels are public and all this other stuff over the years. Because like always, they can't keep a secret even if they try and so i think you gotta you gotta be aware of this stuff you gotta be careful if your messaging is counter you know counter signaling the regime then you could be a target definitely and platidor was noting on x that a few years ago even like last year two years ago if you typed in bitcoin into youtube a lot of the shit that came up was stuff like oh safe moon is going to of course of course yeah but now when you do it you get a lot

of mainstream media stuff that's tying trump to bitcoin ah it's it's a totally different so rather than getting the scammers and the people that are just trying to make you know find exit liquidity it's something else and this could just be sheer coincidence i don't think it's coincidence i think it's that those companies are the most algo friendly and so suddenly now they have bitcoin content so they come to the forefront of the search results that's my guess i don't think it's anything nefarious on that front here that this past week somebody came out and made a claim that they're satoshi i love this guy way way better than the uh peter todd claim this guy looking like he just crawled out of a cave

somewhere like oh my god it's and then he did like a demonstration in a classroom or something it looks like he's like i'm gonna sign the the key or sign the transactions or whatever? Wow. Come on, bro. Let's go through this. It's an older dude. His name is Stephen Mola. And I think I pronounced his name correctly. He looks like a Southeast Asian dude. That's what he looks like to me. He claims to be an economic and monetary scientist.

And this came totally out of left field. This type of event just came out. Apparently, the admission to get to this was $540. The guy that was hosting this event, he had to pay $540 just to go there, and Mola was having technical issues with his laptop, and this is Satoshi, my friend. He said he will be promising proof in the next few months that he is indeed Satoshi.

Somebody asked him if he's going to move the coins in the Genesis block. And he said, yeah, he'll do that, which right away is concerning because those cannot be moved. So I'm not sure if he indeed just misunderstood the question or probably not satoshi but i love this so yeah and the timing of this though a couple of weeks after or three weeks after the hbo documentary is this timing like what the fuck is this all about i found it to be kind of ironic but whatever it's it's like a non-, but I do enjoy these personalities coming out of the woodwork and claiming that they're Satoshi and then not understanding the questions. It's funny too, the press loves propping these guys up for a couple of days.

So I think at this point, the press probably even is like, yeah, this is a dumb story, but the number of people who are going to click this is so incredibly high. We have to run it. Everyone clicks this stuff and then just like dunks on the guy online and so the advertisers win the media outlets win we win and only uh mr mala loses oh he gets his 15 minutes and it's 540 bucks also why does this guy have a suit this guy's he didn't wear a suit to the uh the display why would he this guy's worth tens of hundreds of billions of dollars right like what the fuck i don't know see he'll move those genesis coins one day so unless he does that's 50 coins and he's gonna

get some you know times 67 that's not too fucking bad i love it it. I need to find a way to move it. I love it. Kevin O'Leary's shitcoin exchange called M2. We discussed this a very long time ago. It was launched in late 2023. Nice. Hackers broke in and were able to steal $13.7 million worth of digital assets. $13.7 million for 100% of his company? Is that what I'm hearing? Well, they made them whole.

Well, I'm going to go through this because the majority of stuff stolen was stuff we heard about. Bitcoin, obviously. ETH and Solana tokens. So that was the majority. But there must have been a bunch of shit coins on top of ETH and Solana was stolen. But either way, 13.7 million was stolen.

They say that customers' accounts were restored and made whole. They somehow gave the money back and were able to buy the assets and made their accounts whole. Clearly, they have deep pockets. Good thing for them, this was a very small exchange because if it was a larger exchange this thing would have went tits up number one number two it's this is a a good reason why you should use an exchange like bull bitcoin that's non-custodial because this company m2 this exchange people trusted them with buying their Bitcoin and shit coins. And what happens when you do that, sooner or later, it will get hacked.

It may not be tomorrow. It may not be next year. But over time, this shit will get hacked. And when it does, your stuff is gone. Luckily that they made their customers whole. But others, and there's a lot of history we could draw upon to show that you should not leave your bitcoin on exchange buy it take it off use something like bull bitcoin or it's not a not custodial that's the way to do it thank god that uh they only stole you know a

little bit of bitcoin and a handful of worthless tokens like solana and Ethereum. What a time to be alive. People are still using exchanges as though exchanges are not going down this road where they're not going to be profitable and they're going to lose your Bitcoin. ShakePay today, big announcement. They're like turfing their shaking stats program basically to oblivion. No, you got to be over a thousand days of shaking. A thousand days for a thousand sats? Yes.

Oh, boy. I don't think many people are at that threshold. No, I don't think so either. And the spread on ShakePay is pretty high, I think, right? So, yeah, if you're buying there with any regularity... Withdrawals are free. Withdrawals are free above a certain threshold. The Visa's good.

I use that cashback Visa sometimes, I will admit. You just transfer some money in there and get some Bitcoin back on a big buy. I used it today, actually. My dog had to get some TickChoose. So yeah, there's exchanges in general trending the wrong direction. These guys are taking your information. They're adding shotgun KYC. They're a choke point for governments. They're a choke point for hackers. And there's no guarantee that you'll get back what gets taken. And it will get taken.

It's either going to get taken by a law, or it's going to get taken by a rogue agent, or it's going to get taken by a careless exchange employee or whatever. That's if your data doesn't get leaked along the way. Shake Bay had that data leak a little while ago too. And M2, God only knows, if they gave up these assets that easily. There's probably stuff we don't know about happening as well. Is that safe to say? I don't want to get sued by Mr. O'Leary, but it's always possible. It could be other exchanges that are small as well.

Could be. Totally. If you're not publicly traded and they're not forced to disclose any information totally you know anything holy shit there's someone commenting on rumble in the chat i don't think i've ever seen a rumble comment just just to like give everybody what the comment is because they probably can't read it it's a gentleman by the name of rod i won't go any further he says he's an 809 day shaking on his shake pay so he's getting close to that magical 100 days to get those 100 sorry sorry uh 1000 days to get to the 1000 sats yeah so he's getting there brutal absolutely yeah mstr oh talk to me say it say it

to me slow let me light a candle here all. So they plan to go balls deep into Bitcoin. Ben's in the chat too. He's going to shit a brick. It's not like I'm coming with anything new. He could probably tell us, so you're probably telling me what's going on. They plan to announce they're going to be raising $42 billion in capital,

half of which is going to be coming from market equity offering, and the other half is going to be coming from market equity offering and the other half is going to come from fixed income securities yeah and the money that they're going to be raising will be mainly used to buy bitcoin and currently they have about 250 000 a little bit over 250 000 bitcoin on their balance sheet so if we were are to 70,000 as the threshold, 70,000 per Bitcoin, 42 billion would get them around 600,000 Bitcoin. The price of Bitcoin obviously is not going to stay at 70,000. It's not financial advice, of course. But I'm just giving you just an idea.

If all that money were just to be redirected toward Bitcoin at a set price, it's a lot of Bitcoin they're going to be buying up. And where are they going to get it from? Who are they going to get it from who are they going to buy it from i don't know but the exchange like the amount of liquidity on exchanges it's going to go down really fast when you hear stuff like this and also the uk fund that's going to be buying up bitcoin over the next 10 years companies also like i'm not going to say buying up Bitcoin over the next 10 years. Companies also like, I'm not going to say. They're putting in a bid, man. They're putting in a bid.

You know, it's a fixed bid now. Yeah. This stuff potentially could go parabolic once there's no more fucking Bitcoin to be bought. Where do they go? They come to who? You and me. I'm not going to fucking give up money. They got to go to the next person. They got to find somebody that's willing to sell it at the right price whatever that right price is

yeah surely they'll find it if they you know if there's a this is what will happen when you have a fixed supply and when somebody is willing to go fucking balls deep it's gonna go parabolic this is a beast story i love this i I wish I'd prepared some notes on this, but I think I can speak from memory. So you mentioned there the $21 billion in equity dilution basically for shareholders. So the shareholders are being diluted to the tune of $21 billion.

That's a lot. And then $21 billion in converts, the fixed income securities. This is big. And I'll tell you a couple of reasons why. I want to compare and contrast this to Coinbase. Coinbase doing a $1 billion buyback. I think it was number 1 billion or billion and change.

Share buyback. Yeah, like if you're going to be a Bitcoin company, not that they are, you have to at least understand the mission, right? You have to understand the asset and you have to understand that one of these things is not like the other. And so the compare and contrast between Coinbase and MSTR is pretty stark after last week's earnings calls.

You got MSTR saying, yeah, we are a Bitcoin treasury company now, BTC, love that. As much as I think Saylor is a bit of a joker on these podcasts, he's damn good at delivering these shareholder presentations. And the strategy behind the Bitcoin Treasury has so far been outstanding. He talks though about how if you look at the Bitcoin Treasury Company strategy, you can't just say, well, it's a sort of a gimmick. It doesn't work. We don't know if this is going to last, whatever. It's already run up too high. We can't buy this. Saylor makes a couple of good points and I'll touch on a few here and then I'm going to add a few of my own. One is that it's not just MSTR outperforming Bitcoin. That's the big deal, right? Bitcoin's

up about 85%, I think. MSTR up about 200% in the same time period. I don't know exactly what that time period is, maybe a year, maybe a year to date. But they're crushing Bitcoin. But that's not the only thing they're crushing, right? They're crushing Nvidia, Apple, Microsoft, Google, Meta. Pick your big S&P stock, they're crushing it. Pick your big Nas&P stock, they're crushing it. Pick your big Nasdaq stock, they're crushing it. They're crushing all the ETS.

They're crushing the Meg7, crushing gold, crushing everything. Now, not only are they crushing Bitcoin and the rest of the market, they're also crushing some private equity. If you go back seven or eight years in this presentation, he's talking about companies that didn't even go to market yet compared to where they are now. And he's beating those guys too, since 2020. That's pretty impressive. People say that the convertible debt is an issue. Well, maybe, except that the convertible debt is beating the mag seven too. Like you could buy-

You can just keep holding that over when it comes up. It's unbelievable that this guy has been able to pull this off and people are saying well i i can't buy this i'm gonna take a line from one of the guys in the uh north star the mstr north star twitter space or whatever from a couple weeks ago like there are people now who are at this point like just jealous they don't have any mstr plain and simple okay and i'm not saying you're one of these people or any of the guys that we talked to or any of these people but there are i don't have any i feel in that category no but i don't think but i don't think you're you're like such a vocal like hater of mstr that you fall in this category no i just really quick i i don't give a shit about them they could buy bitcoin in fact i hope they buy more bitcoin i just wish they self-custodied it yeah that's

reality and yeah that's great that's great the greatest of success. Great stance to have. And I've heard people say that, well, we can't buy this stock now because it's just run up too much. And the NAV compared to the price is just way too out of control. And we got to wait until this thing cools off or whatever. And I just want to ask those people, do you only buy things that are not succeeding, not successful? Do you only buy things that are flat? Are you only buying on technicals? What are you looking at?

You don't want to buy this thing- They're ethical investors. Yeah, exactly. Ethicals, in other words, are poor. Do you want to invest in stuff that's not winning? If you do, okay, but I would guess you're AUM not doing too well. That's number one.

Number two, there's been a lot of talk about MSTR and I'm going to make some pointed comments here that only represent my thoughts, not Len's, but I'm going to make them anyway. I've heard a lot of spaces in the last little while with guys like Schiff. He's tweeting about MSTR. I've heard even Adam O'Brien. I've heard a couple other guys who are public company CEOs or public company officers. Some big Twitter names in Fintwit and in Bitcoin Twitter, to be honest with you, all saying the same thing. What happens if Bitcoin has an 80% drawdown? What happens if there's some new legislation?

Then the MSTR people are going to get wrecked. You shouldn't be buying MSTR, blah, blah, blah. Man, if Bitcoin gets wrecked by 80%, then all the Bitcoin public companies are going to get tanked, okay? Bitcoin Well, Riot, whatever, you name it. They're going to get absolutely fucking shit rocked, okay? So to say that there's a threat and that you shouldn't be buying MSTR because Bitcoin might draw down 80%, well, you guys are offering stock too, miners, whatever.

If you're offering that stock and naysaying the strategy of MSTR on the basis that Bitcoin might go down 80%, you don't have it. You haven't figured it out. You can't be saying that in a public space. It makes you look dumb. Then if you think about the other things that are floating around there about MSTR, it's an unlimited money glitch. It can't work for that much longer. Well, I don't know. It depends on where you think we are in the Bitcoin cycle. Do you think that we just had a crazy, basically four years of headwinds in terms of rates and price movement. The price hasn't moved from its all-time high of about 70,000 since 2021. And now you're about to hit an environment where inflation looks like it's going to heat up again. Rates are coming down even in the face of that. Gold is rising,

which has historically been an indicator that the price is going to rip. Companies, pensions, governments, and now ETFs also buying infinite bid. Oh, and Saylor just told you he's going to do 42 billion over the next four years, regardless of how he has to do it. Do you think this is the time to be bearish on Bitcoin or bullish on Bitcoin? Do you think it's the time to be bearish on MicroStrategy or bullish on MicroStrategy? Because at this point, MicroStrategy is going to become the largest holder of the world reserve asset. And once you get to that status, the possibilities are endless in terms of what you can do with your treasury. That's the strategy that you have to be looking at if you're an MSTR bull. The bears, I think at this point,

either just don't get it or don't want to. And that's fine. But the rest of us are just dancing and laughing. And so if you ever want to dance and laugh, then come on over. And by the way, I didn't even mention, I mentioned earlier the FASB thing, the earnings per share is going to go way up

when they have to do fair value accounting on Bitcoin. That's going to push them into the S&P 500. The environment is clearly going one way. Clearly. And people are like, meh, it's not going to be meh, meh, meh. Come on. And someone asking in the chat, am I bullish on Coinbase? I mean, it's not quite.

No, no. Not Coinbase. What else is in there? Cardano. It's the PTC bridge. Cardano, yeah. No, I'm not quite. He's Cardano. Since the PTC bridge. Cardano. Yeah. No,

I'm not. And like, like the, the, the MSTR thing, like, what are we talking about at this point? Like who,

who still thinks that this is not working? Who still thinks that any of this stuff, if you, at this point, I dare say, Len, that if you think the MSTR price is going to go down, then you have to be even more bearish on bitcoin right like

these two things are are forever linked at this point and i think it's a mistake to discount what it means to have a company that holds you know by the time they finish buying 42 billion will they have a million bitcoin close more probably depending on the price i mean the it's going to take four years assuming the price moves up boomer was saying it's it's that's you know so that would be doubling their stack yeah right now with 42 that's that's pretty significant man and if the and if everything else directionally goes the way you think bitcoiner then what is what is the problem with owning some of this company if you want to play in your TFSA? You can say, oh, you shouldn't use your TFSA.

Okay, fine. We're having a different conversation then. But that's not the conversation we're having now. The conversation is, should you be bearish on MSTR stock over the risk of Bitcoin crashing? Well, I don't buy it. And I don't see how anybody could buy it at this point i'm wondering take a step back what is mstr aside from holding bitcoin there they provide

software right enterprise software or something yeah was it micro strategy one they make enough cash flows to cover the interest on so yeah yeah they're a profitable company right now yeah before they got into bitcoin they were you know they were publicly traded so things were okay and then they decided to get into bitcoin it was the right decision for them i'm wondering though so the valuation of msgr right now it's not primarily the their software stuff it's all no it's the treasury yeah the next company that's micro strategy light or even better than like doesn't like just they're profitable they have the ability to get a lot of capital or sitting a lot of capital once they buy into bitcoin the people that have purchased shares into micro strategy would they sell and go to the other one?

And then would that – there's one of two things that could happen. It would either maybe draw down the price of MicroStrategy or it would just fucking accelerate because then the price of Bitcoin will go higher because the other company that's reputable bought in. I can see one of two things happening. One of those two strategies. Take it one take it one step further if someone tries to keep up with micro strategy now right in terms of the bitcoin buy which is what's driving the price of the stock they'll run out of bitcoin and and they'll never they'll never be able to catch micro strategy now everyone's the ones that could do

that are the ones that are sitting on like i'm looking at the apples of the world i'm looking at the that apple's got apple's got 80 billion in cash so if they deployed all their cash all of it okay yeah they could get past micro strategy sure but how many apple shareholders going to be like i'm out exactly it's not it's not a feasible strategy they have to go in slowly and micro strategy either knew that or tripped backwards into it, but now they're way out ahead and catching them is impossible. They're the faster horse, even if there's another horse coming out of the barn now. So I think it's a great strategy. The more I think about it, the more I hear people talking about it, the more I kind of put some of this stuff together. i just don't like at this

point any lads you're going to deploy more capital yeah just a lot of salt out there you know about micro strategy it reminds me of the nvidia salt i'm not saying you have i'm not saying you have it you're never like that you're never like i don't give i don't give a i i personally i don't want to buy into it and i yeah would always recommend people look. If you're Bitcoin or do you really want to go down this avenue of using this fiat tool to buy stuff? If you really want to, all the more power to you. But this is your choice. I know what I'm buying. I buy my Bitcoin.

Nobody can take this shit from me. It's mine. And I sleep well at night. Sure, it may not go up as much in value as MSTR has in the past little while. I don't give a fuck it's mine yeah i don't have to beg somebody to get it at the end of the day i can simply exchange it for something else later on and yeah that's that's my my point of view you know what it's 132 into this 133 into this i saw yeah elon started his show let's fucking end this thing the reason why we're

ending early i'm not sure if we mentioned it i I did. I mentioned it. Yeah, Elon's running a thing at 8.30 tonight. Yeah, because I'm sure everyone was going to listen to the fucking talk. Although we haven't seen a drop in viewers here, which is nice. But yeah, I just want to thank you guys for coming out and thank you as always for your continued support of the program.

I'm leaving this in good hands with Len for about a month and I will see you guys when I see you. Until the next time, take care of yourselves. Take care. Good luck, Joey.