The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #190 (Bitcoin News) - Wall Street Capital Buying Corn

Episode Date: November 19, 2024

FRIENDS AND ENEMIES Join us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠⁠⁠www.CanadianBitcoiners.com⁠⁠⁠ Discord:  ⁠ ⁠⁠⁠https://discord.gg/ESRCZWpb⁠⁠ ⁠A part of the CBP Media Network: ⁠⁠⁠www.twitter.com/CBPMediaNetwork⁠⁠ This show is sponsored by: easyDNS - ⁠⁠⁠⁠https://easydns.com/⁠⁠⁠⁠ EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. With their new kyc-free options, there's never been a quicker, simpler, more private and (most importantly) cheaper way to acquire private Bitcoin. Use the link above for $20 bones, and take advantage of all Bull Bitcoin has to offer. D-Central Technologies - ⁠https://d-central.tech/⁠ Your home for all things mining! Whether you need a new unit, a unit repaired, some support with software, or you want to start your own wife-friendly home mining operation, the guys at D-Central Tech are ready to help. With industry leading knowledge and expertise, let the D-Central team help you get started mining the hardest money on Earth.

friends and enemies this is cbp number 190 we've been at this for 190 weeks straight weeks that's wild it's been a while yeah it's second week in a row without Joey. Because why? Joey is not here because I didn't announce it last week's show, but I will have to this time. He and his wife are now the proud father of a little baby girl. Everything seems to be going well. She's healthy. They're home. They're doing their thing.

And congratulations to Joey and his wife and the little one as well. So we have a new Bitcoiner that has been brought out to this world. The CBP family grows. It grows, it grows. And this was a hard fork, a planned hard fork. We have Boomer joining in this week. Boomer has been on the show a few times and he'll be in the show again a few more times.

For better or for worse, and I always say it's for the better. And you know what? This might be the trial that maybe could have actually kicked me off. If all the, all the reports go well, Boomer,

you might be finally replacing me, which would be fantastic. And we finally have somebody competent on this show aside from Joey. So do a good job and yeah, you'll be part of the team permanently. So. Well, to me,

I'm here every Monday night anyway, I'm either in the chat. So the only difference to me tonight is that I'm going to be talking instead of typing. I appreciate that. Yeah, you're a solid Bitcoiner. You're always part of the show. And I just want to plug your Wednesday meetups in Ottawa. They're not always Wednesdays.

Sometimes we do them on Sundays and now Mondays. But yeah, we do. That's called the Glebe? Yeah. Well, they're moving. We're moving away from the Glebe. We've outgrown. Yeah, our meetup has kind of outgrown where the pub that we used to meet at.

We're getting a lot of people, you know, bull market vibes. So we're now moving to Big Rig. It's on the east end. Remember Chris Phillips used to play for the Senators? Yeah, heck yeah. First overall pick. Yeah. He started a bar. He opened a bar in Ottawa, and I think he since sold it. I don't think he's no longer

the owner, but that's where we're going to be holding our meetups. Is Marshie still a bar in that area or no? I don't know. What's that? I thought Brad marsh had a bar marshy's oh yeah i think he had it in really ever yeah in ottawa you know i think he had it in the corral center or palladium or whatever it's called these days i don't even know that's way on the west end i don't i don't i don't venture out that far okay anyways boomer i have to do a couple of actually

a trio of ad reads i want to get off my chest here because well, they paid for this and I want to give them the opportunity to be heard loud and clear. Number one, we have easy DNS and they are a great place to purchase domain names. They are a great place to move over domain names, set up websites, move over websites, email hosting, all these things. In fact, you Boomer, I'm going to bring you in on this one. You set up a website for your meetup and you used EasyDNAS to do that. How easy was it to set up? You're asking the wrong guy. I'm like the least tech savvy person ever.

So I had it up for a year and I guess it worked. It was pretty basic. In order for me to do it, it's got to be basic. I did need a little bit of help, but then it expired and I no longer hold that URL anymore. So I'm going to have to get another one. Somebody's going to claim it, but either way, there you go. So Boomer, somebody that didn't have the chops to figure things out, he was able to figure things out and he got help along the way. EZDNS, they are a wonderful service. They've been around for decades in this

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fiat as well check them out out, ezdns.com. Sponsor number two, you're wearing the hat. I'm not. I should be, but there's a hat. That's a Bitcoin hat. Bull Bitcoin. Look, the price of Bitcoin is $90,500 according to my block clock. So that's a decent price.

You may want to buy. You may want to sell. I would agree with you. It is extremely cheap. So the opportunity is there to buy and sell whatever is your your fancy they got you covered on chain right now i'm looking at my node everyone should run a node three stats for b bite was the last average fee in the last block very cheap so still i would suggest on chain somebody's telling me to buy gold no no i'm not gonna buy gold mining stocks i'm gonna buy bitcoin and so if on chain is getting kind of high which is not right now well bitcoin will have give

you the option you could also use lightning so if you want to use that as well you could buy and sell with lightning buy and sell on chain other options they have you could buy gift cards and there's lots of gift cards you could buy like like Amazon, Home Depot, whatever. So this is one way you could live on a Bitcoin standard. Because right now, a lot of industries are not taking, a lot of merchants are not taking Bitcoin in the real world. So you got to use these gift cards. So Bull Bitcoin will help facilitate these buys. And you can just go to them and buy these gift cards through them. Also, you could pay your bills.

So if you have, like, say, a cell phone bill or whatever, you could use their service to bill service and then pay your bills with your bitcoins there's lots of different options you could do with bitcoin not simply buy but you could spend it as well in a multiple of ways and if you have not yet opened an account do so using our code if you do that 21 is going to be added to your account once you provide the necessary information finally we have decentral tech and they are in the process of shipping out the cbp media or cbp branded bit axes should be coming very soon i've been told it's this month they will be delivered look if you want to do anything with home mining if you want to do a hardcore setup very loud they'll give you something they'll sell you something so you get a hardcore s21 or s19 or if

you want to get something a little bit quieter you get something that just plugs into your 110 volts and you know you could just do one of these things that won't piss off your significant other or your kids or whomever so if you want to do some big setup small setup tiny setup medium size setup anything they got you covered so check them out decentral tech they are canadian so if you're in canada looking to get any sort of bitcoin mining solution set up there are people you want to talk to that's it you guys have the best you guys have great sponsors and they're not just great bitcoin companies they're also run by a bunch of great guys they are they are i just want to say like during I was talking,

we had another block that was mined before Sats Review by just looking at my node. Still cheap people. Hopefully you are consolidating your UTXOs, right? If you haven't been doing it, you're going to be kicking yourself in the very near future. But I've consolidated mine.

If you need help, let me know. I just want to do a couple of quick things. I want to check some things off my box here, Boomer. Number one, I had a meetup with a whole bunch of hard assets individuals this past weekend, and I don't want to name names because I don't want to dox them, but these people, they understand hard assets, and they understand Bitcoin.

There's going to be a flood of money coming into Bitcoin soon, not because of just these folks here but i'm just talking in general but these people are also they see things and they are going to be actioning hopefully soon and man i'm just the energy is high boomer you have you experience this all the time with your meetups right like yeah when you leave like aren't you like we're gonna win or we already won that. Definitely. It's not just my meetups. I'm the host of the Ottawa meetups, but also the meetups in Montreal. So talking about Decentral Tech and Bull Bitcoin, they're co-hosts of the regular Montreal monthly meetup.

So I think their next one is the 6th of December in Montreal. So if you're around Montreal, either send me a message and I'll tell you where it's at or find it on meetup.com it's bull part of that as well are they associated something yeah because that's their stomping grounds right yeah they're hosting it same with panties for bitcoin so panties for bitcoin decentral tech bull bitcoin uh coin beast there's a lot of montreal have uh some real real bitcoiners over there that have been in the game for a long, long time, and they do a great job hosting people.

One smart fella says the term I was looking for is fired up. Yeah, that's another one. Every time I walk away from this, the energy is just bursting. It's incredible. Now, I also want to just do one thing. I'm having some difficulties getting the boosts. I could get two of them that were sent in. I appreciate everybody that sent in boosts,

but for whatever reason, I can't get them all. So one, we have P. Vine Ridge Farms. Sometimes he shows up in a chat. I appreciate him doing so. Now he's sending 1,000 sats. He says, Pierre Poliev is too left-wing for me. If you're not considering bringing back homesteading crown land to fix the

housing crisis, then you're not radical enough to get anything done. Also, why silence on Btc 100 right i'm not part of btc attending conferences and talking about it worked for trump he also mentions congrats joey feel free to send these sats his way you know i think all these sats we've been collecting for the past few weeks and moving forward for the next few weeks we'll send it over to his little girl's fund and she'll become a wealthy Bitcoiner in the future. She's a wealthy Bitcoiner now, I assume.

But I think we'll do that. So please send in your boosts and everybody that sent them in, thank you very much. Also, he writes in Peavine Farms, and there are a thousand stats. He says, Noam sure likes to use false statistics on everything outside the scope of Bitcoin. Jose Nino busted the myth that having a gun on you increases

the risk of a bad outcome a long time ago Jose wrote a book on the subject nothing I could say I never read that book and gnome is not here to defend himself so I can't say anything I just wanted to read that appreciate that the boosts Boomer anything else you want to talk about before we dive in? Now's the time. We're just riffing here. I want to talk about Sly. You had Sly Goomba on a couple of weeks ago.

That was one of the best interviews that you guys have done in a long, long time. He's a fun one. I thoroughly enjoyed that interview. He did that, I don't want to say where, he did not have a podcast set up. Let's just say he was in an element

that you wouldn't expect somebody to be doing a podcast. And I love it. I recommended that one to a few of my friends and they all agreed that they were all like, oh, this is this was a great interview. And it was it was unique. You listen to these Bitcoin podcasts. You don't hear a lot of people talking about spending their Bitcoin, you know, about appreciate, you know, Sly, for the people that didn't listen to it, was talking about how, you know,

he's sacrificed a lot over the past couple of years from the bear market and he's stacked, he's stacked sats and now he wants to buy a PlayStation. So he's going to, he's going to take some of his sats and buy a PlayStation. And it was just a really good reminder that the thing that we're in, we're in this thing to make our lives better. And sometimes to make your life better is to peel off a little bit of that Bitcoin stack that you've been saving up, pay taxes on it, of course, and buy a PS5 if that's what makes you happy.

I was trying to discourage him from buying the PS5 because I'm not a fan of that or even a new Xbox as well. I have them both, and I got them both for free. I don't want to say how I got them, but through some wheeling and dealing, I was able to finagle them both for free. I don't want to say how I got them but through some wheeling and dealing I was able to finagle them both for free so it's not like I was shorting Bitcoin

and so they suck Both of the consoles suck There's nothing good on it really They collect dust for the most part for me Yeah, you're a Switch Yeah, you're a Switch Maxi Yeah, I love the Switch. A lot of great games on there even though it's underpowered but it's just the games they put out there are much more fun but

boomer any last things you want to talk about i see you're the 225 pound squat approved gentleman and i'm the isa of rock and rolla yeah i had to make sure to that joey if i was going to replace joey that i had to squat at least 225. I think that it wasn't one of the requirements, but it's certainly good to have. And, oh, this Wednesday, I'll be interviewing Dan from the High Hash Rate

Podcast. That's going to be live Wednesday, 7 p.m. Eastern. Check it out. Tune on in. You'll hopefully have a lot of fun. He's a good guy. You guys going to talk about Trailer Park Boys? It's definitely, you know, it's on You guys going to talk about Trailer Park Boys? It's definitely on the list. He loves the Trailer Park Boys. Indirectly,

one of the guys that I know in the NHL community, NHL 94 community, he used to work on the set of the Trailer Park Boys in the first few seasons. It's just a small world. He knows them. He's met them. He's

interacted with them. And it was funny because he's like Cyrus the Virus. Or Cyrus. He knew him too. And it's like, I love this man. It's such a small world. We're talking. We'll talk some trailer park boys. I used to live in Halifax. And no joke,

I was at the grocery store one evening and there was Phil Collins wearing like a t-shirt that was three sizes too small. He did in the, in the show. And I'm like, it's great. You ever bump into Randy? And if so,

does he, does he wear a shirt or not? No, no. Phil Collins was the only one. And Jonathan Torrance. I have met Jonathan Torrance a couple of times. I don't know who that one is.

It's one of your ones, right? You know what I'm saying? Oh, right. Okay. Yeah. J-Rock. J-Rock. Yeah. I don't know if it's Jonathan Torrance. I don't know if it's J-Rock. What the heck are you talking about? You remember Jono Vision when we were kids? No. Was that what it called?

Jono Vision? Yeah. He had like a talk show yeah this is like late 90s like on cbc ah if it wasn't chevy chase or carcinio hall or whatever let's fucking that was great and that was my time anyways boomer i think it's time we should dive deep right into bitcoin because holy shit we have a lot to talk about today and you know feel free to interrupt me at any time because there's a lot okay let's talk about the exposure that's entering into bitcoin a lot of these companies a lot of these new entities that are getting into bitcoin what is with this buy gold come to tell me to buy gold what the fuck look at this fringe no fucking way am i buying gold fuck that shit that shiny rock there's a case use for it but there's no store of value in my opinion fuck that you can't verify when you buy it it's not even it's not easy to do it i can't transport it across great distances so fuck that i'm gonna get going to get Bitcoin. Anyways, new entities that got into Bitcoin recently.

Not sure if you follow this, Boomer, but some of these big organizations include Cantor, Fitzgerald, Citadel, Royal Bank of Canada. Royal Bank of Canada is interesting given the fact that they have had a very difficult year and they're allocating a little bit of their excess money to buy these ETFs. Now I'm talking about all these companies are buying into the bitcoin etfs in the united states morgan stanley bank of america another one that's had some troubling times that they're now exposed getting exposure to bitcoin hsbc honeywell these companies they're not small these are billion dollar companies or at least

billion dollars on paper and now they're buying into these etfs and getting some exposure to the price of bitcoin and i just want to state like a lot of people are saying this is a good thing and yeah this is i i guess it is a good thing but they are primarily doing this for fiat games nobody goes into an etf for Bitcoin. They're going into the entry with Fiat. And in their mind, they're hoping to exit with more Fiat. And what they do with that money, it's up to them. But these companies here, let's be honest, there are no coiners through and through. So they're there just for Fiat gains. They do not have diamond hands.

They're not Bitcoiners. As the price goes up, they're going to be happy. But also, as the price goes down, if if whenever it goes down it seems like this is going to be forever number go up thing they're not going to keep this their etfs they're going to sell right they're going to look at these and you know maybe make a gain or if they're losing or whatever there's going to be a lot of downward sell pressure that's going to be enormous once these people owning etfs decide to sell like i'm looking at this this is good but is this going to translate into them becoming

bitcoiners they're going to buy bitcoin and put it on their balance sheet and hold their own keys i would say probably not probably but still in the end i mean getting exposure to bitcoin i guess that's not a bad thing i'm not sure if you have anything else you want to add well first of all how does it make you feel that rbc is buying bitcoin when a year and a half ago you guys couldn't open a bank account we still can't but they're buying a bitcoin etf but you could say that this is the canadian bitcoin etf podcast and they would then allow you to open the open a bank account okay yeah i find it's find it's pretty shitty. And you guys aren't the only

Canadian entity out there that has had some trouble opening a bank account in a traditional Canadian bank. I know Adam O'Brien over at Bitcoin Well has talked about this quite a bit, about how he's had trouble on his personal bank account

just because he's the ceo of a bitcoin company like that's kind of wild uh they need business right when they hold then they hold the etf on their balance sheet that's kind of hypocritical don't you think well yeah 100 they'll be happy to get exposure to the price of it, but they won't provide any services to anybody that has even tangentially related to Bitcoin. We're not, as a business, we're not mining Bitcoin. We're just here to talk about

Bitcoin. You guys don't even give financial advice. There's no financial advice on these shows. Never. Never financial advice. 100%. Yeah. People could do what they already fucking want to do with their money. I could tell you what I'm doing with mine. I'm buying and holding my own corn.

You could, anybody could do whatever the fuck you guys want to do, but that's my opinion. And if you agree with me, great. If you don't go fuck yourself, but you're okay too. So like,

it's definitely not financial advice. Some of these companies, Len, that you mentioned, these guys are like big time financial players. Like Cantor Fitzgerald, like Howard Lut these guys are like big time financial players. Like Cantor Fitzgerald, like Howard Lutnick is like the CEO over there. And he's on the short list to becoming the SEC commissioner. I think he was still the head of Trump's transition team or whatever.

He was on Anthony Pompliano's show relatively recently where he said that he, he has hundreds of millions of dollars worth of Bitcoin. So these guys are coming in with size and I'm with you. They're probably not Bitcoiners in the true sense of Bitcoiners, but that's not to say that there aren't people that work there who aren't right or or that are will be because of this you know like maybe maybe one of these one of these companies they put a team of analysts on this file and say okay guys we want you guys to do up a right you know study this bitcoin thing for us and out of that maybe three or four of these guys become you know ride or die hardcore maxis within a year because they've learned a lot.

So I think it's good. It was always going to happen. It was always inevitable that the suits would come for money. They would come in with big money. Yeah. The litmus test would be what's going on with Microsoft. There's that proposal that's been done by one of the shareholders saying they're going to look at buying bitcoin it's not like if that proposal gets approved they're going to automatically buy bitcoin it's just simply examining the option of

buying bitcoin and that would be the one that you know i would say like let's look at that and see what happens there because microsoft if anything they can allocate a very small portion of their overall um overall balance into Bitcoin, and it won't make a dent into it. Because if you put like one hundredth of 1% into Bitcoin, it's not going to kill the company if it goes tits up. So why are these companies doing this? Is it the fiat gains, or is it just debasement?

Or are they hedging are they hedging are they you know maybe they're watching the news and they're seeing trump talk about the strategic bitcoin reserve so they're just trying to get ahead of it a little bit so that they have a seat at the table go in the next next year or so i don't. Another thing you talked about with the new Fed chair coming in, at least the idea of who it may be. Gensler, I can't believe he's still in the seat because I thought today was the day he was going to disappear. But he lives for another day.

I don't think he's there for much longer. Yeah, well, it was funny because didn't Trump appoint him? I believe so, yeah. Was it Trump or was it Biden? I'm going to say he was Trump. I say Trump.

I think so, too. I think so, too. Both he and Jay Powell. And both those people don't seem to have longevity in their positions. Jay Powell is not. That has nothing to do with the White House. Oh, come on. Well, I I mean I'm sure that there's some influence in there but the Federal Reserve

it's independent on fucking paper let's be fucking honest it's a parasite one can exist with the other right the big banks in New York have more say about what goes on at the Federal Reserve than the White House does. But the Federal Reserve is there to back the United States anytime they need to be backed.

If ever they want to sell bonds and they don't have a buyer of last resort, the Federal Reserve is there to buy it. So they are there. They provide whatever assistance necessary to make sure that the government has funding to do their thing. So the Federal Reserve, they need the government to operate. They have to have them there. So they're a parasite. I'm not trying to discredit them. That's just the

relationship I see. So I can't believe Jerome Powell is digging in his heels and able to at least sustain. He hasn't basically had his head cut off, so to speak, with what he's done so far right like stand there in a podium and say no i'm not fucking going and i'm paraphrasing here fuck that's i'm in the minority around here like i actually don't think that powell has done a

horrible job compared to some of these people compared compared to Yellen and compared to Gary Gensler and then the mess ups that he's done with the ETFs and stuff. I think Jay Powell was dealt a really shitty hand and he played it probably as good as he possibly could. I don't want to discredit them or give them any more credit they they had no option if they wanted to ensure that money flowed yeah right like in canada we had serb we had seba united states they had stimmy checks or whatever it was called that money had to come from somewhere yeah and that came from well just adding it to the debt. And well, the central bank was able to provide a liquidity for that. If they didn't do that, you would have almost same thing that happened in 1929, 1930, in that there wasn't that type of backing from the government. And so

you had unemployment reached 25%. A lot of people lost everything everything so you either had one extreme or the other so if they wanted to go down this path and all central banks did that what are you gonna do if the governments are going to close the economies what are you going to do I'm not trying to defend them I'll defend them I I don't think Jay Powell has done that terrible of a job at the Federal Reserve they did they did a job which they probably should have done even if they were incompetent or confident. It was just the only thing they could do. They painted themselves in the corner. This was the

only position they had, really. Let's talk about... Oh, sorry? No, I was just going to say what other companies? Cantor Fitzgerald, Honeywell, RBC. There's been a bunch of companies that today, the last few days actually,

that bought Bitcoin and added it to their balance sheet. Not just a fucking ETF, but actually Bitcoin itself. I don't know if they hold the keys. Everything I've read from all these companies, I don't know how they're doing, if they're using custodial services or not. Either way, this is a step in the right direction. Solidion? Solidion? I don't know. Technologies?, this is a step in the right direction. Solidium?

Solidion? I don't know. Technologies? STI is the ticker. It's a publicly traded company. Sounds like a shitcoin. Sorry? Sounds like a shitcoin.

Well, they're an advanced battery materials provider. So you tell me if that's a shitcoin or not. It seems to be very much tied to government. Anyways, they're adding Bitcoin as a corporate asset. And they said they're going to be buying Bitcoin using their excess cash reserves. They're not going into debt. They're not leveraging. They're just simply using whatever cash they have to buy Bitcoin. And 60% of the excess cash that they have is going to be used to buy Bitcoin.

So it's a very aggressive strategy, but they're not using debt, as I mentioned. So they say they're going to be converting also their interest earning from other investment vehicles, such as money market accounts to Bitcoin. And for people who are wondering how big of a company this is, it's a very tiny one, $41.75 million US market cap. So be that what it is. And when the news came out, their stock jumped around 28%.

But they sound like they're cash flow positive. If this is extra cash that they have on hand, then I'm assuming they're not indebted because if they had debt, I would assume that they would pay off the debt. So instead, they're a cash flow positive company. So they're

just rolling over their savings into Bitcoin. Isn't that what we all should be doing? I agree. Not, not going into debt, just, you know, saving our money in a,

in a better money. A hundred percent. I think this is great. It sounds, it sounds like great news. I got, I hopefully this is just the first of many companies that starts. Oh,

I have a lot to talk about, but we have people here. Liam saying, yes, boomers hosting. And we also have the greatest thing shout out to the cvp and the ottawa meetup so very cool thumbs up media corp ticker tz up on the nasdaq they are an innovative social media branding and marketing solutions company market cap almost 30 million usd they say they're going to buy 1 million dollars usd worth of corn for their reserves and by using today's number that should be around why like 11 maybe 12 at most 11 bitcoin something like that

it's not going to be a heck of a lot but still it's a decent amount um bad news for this one though the price of their stock tumbled around 17 when it was announced seems funny you have one that announced it went up 20 and then this one announced it went down 17 there's no rhyme or reason but could be some other things going on as well too right could be so i mean these are thinly traded companies guys like if you're listening to this and you start rolling in your you're going looking at the stock market and you're going to find these Bitcoin companies that have 20 million market cap or 40 million market cap. These are really thinly traded companies. If one person makes a sell in a company that small, you can you can.

Oh, yeah. 15, 20 percent easy. Very easy. Here's another one. The Genius Group. GNS is the ticker. It's not Lenny Poffel, the genius. The market cap for this is almost 19 million USD. So if you're talking about something that is even smaller,

this is it. But they too plan to allocate at least 90% of their current and future reserves to Bitcoin. And I overlooked this. they're an education technology company so if any company which would have at least some ties to bitcoin might be this because if they could provide education technologies to something well why not bitcoin and this is going to be 120 sorry 120 million dollar investment into bitcoin as their treasury reserve asset. That's a lot.

Stock? Flat. So we had one that was up, one that was down, and one that was flat. So what I'm trying to get at, I have more to talk about. I'm just trying to show you there's a flood of Wall Street capital that is getting into Bitcoin. We talked about some companies, big ones that got into exposure to the etfs but these ones that last three i mentioned they're actually buying corn and adding it to their treasury this is fucking bullish remember there's only 21 million bitcoin total ever that will be mined in

by the year 2140 right now we have about like one point 19.5 ish million bitcoin that has been mined every time the company buys 5 10 15 or michael saylor's case another 50 000 bitcoin that it just eats an existing supply and you're only talking about the publicly traded companies here yeah you you we don't know about private companies you know a little mom and pa i don't know if there's that many mom and pop shops that are stacking bitcoin but i can guarantee you that they're like family investment firms and hedge funds and pension firms that are, that are buying Bitcoin right now. That I'll promise. Yeah, we're definitely seeing like the past couple of weeks, there's really been a pretty aggressive bid. That seems pretty price agnostic

from what people are telling me that it's it's it's not necessarily traders trying to come in and scalp a couple of extra a couple of extra dollars it's it's just somebody coming in with size and just buying as much bitcoin as they can possibly get at any price price. The Canadian Brian Porter. We need to get one. We're going to get that. We need to push harder at the provincial level. He's talking about Dennis Porter, but... Do we even need such a thing here?

I think, really, the people that are in power understand Bitcoin, and the ones that understand it, they're no-coiners. They're not going to do anything. What are they going to do? add it to their provincial treasury start mining bitcoin with the excess electricity none of this is probably going to happen the political climate i don't think just it's not conducive to that unfortunately respectfully disagree i i think i think it is happening i i don't think it's okay i don't

think there's buying going on right now within the canadian government but i do think conversations are being had a little bit uh i have met people in my in my travels the past year or so that i that i know are trying. I know of one individual at Hydro Quebec who's a really smart guy and he's talking to people. It's happening there.

As far as federally, I think, like you said, I think that the political climate right now in Canada is a little tense. And I don't think to say the least. Like big breaking. We've got to do a Canadian version of breaking.

I don't know what it would be, but it's got to be. Is there news? Whatever. No, he's just saying because it's a Porter thing. He's associated with it. Oh, yeah. Yeah. It's happening.

There are people in government who understand Bitcoin to some extent. There really are. They're everywhere. They're everywhere. So we just need to keep at it. We need to keep having these podcasts, keep having meetups, keep going to conferences. And eventually it's going to happen. Liam's saying he knows for

a fact it's happening in the conservative party of canada i i yeah interesting i i wish i could get some more information i don't want to pick just in case but maybe something will be announced sometime in the future we'll see but and i've heard some anecdotal stories it's not nothing i know personally but i i know that there have been people that have talked to the premier of Alberta about Bitcoin. And she seems to get it pretty well. Yeah. She's the only one I think that truly does. Of all the premieres, I think she's the one that's the most receptive to Bitcoin, I think.

Either way, I want to talk about some other companies too. Similar Scientific. Yeah. Talked about them before. They're raising raising 21.5 million dollars or they've raised it and they purchased another 215 bitcoin and now hold them a little bit over 1200 bitcoin so there you go another company that purchased more bitcoin and it's just chewing away at the existing supply that's going to be available for everybody else. And again, these are not, they're buying the ETF. They're actually buying Bitcoin. So they are holding it. And I doubt they're going to be trading this.

So if the number goes up, they probably will continually hold it. I suspect maybe they will borrow against it. This is something that's an asset they have. And as the price continues to go up, we hope, then they could borrow against their existing Bitcoin if they have to raise capital moving forward. So it's not like there's going to be a supply that they'll sell it in the future and be added to the existing pool. I think this is Bitcoin that's going to be, for the most part,

locked up, which is a good thing. global care, there's the Cosmos Health. Have you heard about this company? They're a global care group, global healthcare group. They also added Bitcoin to their treasury. It another one like that's why i'm just trying to say like this past few days and some of this is just so recent i didn't get enough information these are all publicly traded companies yeah and they're buying bitcoin and as you mentioned

this is the publicly traded ones we're hearing about because they have to report this quarterly it's fucked up man like this is this is it well this is number go up technology right like is is this what this is is this the and i'm sure it is for many of them for many of these companies they see bitcoin is this high performing asset then maybe they're looking at micro strategy stock over the past year and they're trying to emulate that a little bit. I think there's probably some of that. But, you know, like we're at that stage of the cycle, right? Like, isn't this, this is like a year, year two of the bull market. Like this is, it's 2025. If we repeat the market cycle as the previous ones, don't know if we will or not,

but we're headed, we're at the end of the, the second green year. And the third green year is the big one. That's where you have the blow up top. So that would be if, if things repeat the 2025 would be this, this blow up top. So maybe it's just people trying to get ahead. I mean, look at the chart of Bitcoin. It almost looks like we're in almost a parabolic move anyway right like it has gone up a lot in in a pretty short amount of time since the election boomer and the election only took place two weeks ago yet tomorrow i think so yeah we were what around 67 68 and we were holding there for quite some time and it went up to like 92 93 in a very

short period of time yeah it's two moves bitcoin has had two moves all year we had a big move in march like it when when the etf stuff really started to when when all like all that got approved and they got launched we had a big move then we had six or seven months of almost nothing a little bit bit trending down, but pretty much flat. And then the election, boom, another move. It just goes to show that you, it's really difficult to trade this asset.

Yeah. So right. Right. Like if you missed those two moves, you missed all the gains for the year. Yeah. Yeah. A hundred percent.

I didn't, that didn't clue into me because I didn't follow it that much like that. I mean, I'm just, you know, obviously I didn't follow it that much. Obviously, I follow Bitcoin. You're right. So if you're trading it and somehow you were on the outside looking in for those two events. You missed it. You missed it all.

So this is another reason why trading works for some. It doesn't work for jabronis like me because I don't know what the fuck's going on. So I just buy and hold and hopefully the number will go up. So Marathon is another one. I'm not sure if you saw this one. $700 million that they're going to be raising and they're going to be using that to primarily buy Bitcoin. Boomer,

this is fucked up because their stock price would down significantly after this news. I don't have any insight. Is it dilution or debt? They say they're going to be convertible senior notes. So, well, so it's a bit of both, right? So it's like it's convertible.

So if the marathon stock price goes up to a certain value, then that debt will become shares. So they're probably diluting, assuming price goes up. Yeah, I wrote about this. I tagged you, I think, on this morning when I wrote about this. Bob Burnett. Yeah, he had a big back and forth

and he's not like a gem in the community. I got to bring him back. Yeah, he's, well, your interview with him, you did several of them, right? Three of them, two or three. I think you did three. It convinced me that these publicly traded Bitcoin miners, I don't really think they're

an asset to Bitcoin. I really don't. They're for sellers of Bitcoin. So I find it a little strange that this is the company that's going out and issuing more shares to buy more Bitcoin. So they're buying more things of the things that their company relies on selling. So Liam's asking, are these companies that are buying Bitcoin feeling emboldened by Trump's election? So probably there's got, there's some sense of legitimacy that's going on right now.

So we had the etf that first came out and it you know it goes to show you that wall street then looks at bitcoin as as one of its own so to speak because it's allowing it at least trading the price of it within its walled gardens and now you have trump who has talked about bitcoin i don't want to say he's totally friendly to it he's certainly not anti-bitcoin he's one could make an argument he's probably a shit coiner as well but he's certainly like not fuck bitcoin he's if anything it's like let's go bitcoin and he'll probably say let's go also with some of these shit coins as well so he surrounded himself with people who have spoken very well

about bitcoin relatively recently. And shit coins as well. And shit coins, I know. So you can't totally describe that. But it's clarity as well. I mean, for some of these people, and going back to Liam's point about Trump, maybe it's not so much Trump signaling that he's a Bitcoiner is what's causing these companies to buy Bitcoin.

Maybe it's just Trump winning signals that you don't have to worry about unrealized capital gains or we don't have to worry too much about hard regulation on the broader crypto market or on Bitcoin. So these companies that were kind of on the fence, maybe they were waiting to see how the election played out and trump winning was just like okay now it's now it's okay for me to buy to buy bitcoin now i just want us to give you one piece of information boomer just in case my connection kicks out for whatever reason i come back in like 10 15 seconds so if i just disappear or go freeze up for whatever reason um just sit

tight talk and be you know continue on the show by yourself i'll be there momentarily just in case i don't want to say that you know i didn't screw you over throw you through the wolves it's just it's just my connection sometimes just goes wonky anyways one last story that's along these lines the teachers insurance and annuity association of america tiaa they have announced that, or it's been exposed, that they have bought 51, almost $52,000 worth of the Fidelity Bitcoin ETF. Granted, 52K US is a very small number, right?

Considering that they have $1.3, $1.4 trillion for assets under management, according to what I read here, that's very, very small. But pensions by nature are going to be conservative because they don't want to expose their clientele to any fluctuations, especially downward fluctuations, because pensioners don't have an opportunity to recoup their losses. So the fact that they're getting just a small amount of exposure to Bitcoin, I think this is a good thing because it gives them at least exposure

to the price of Bitcoin. I know the ETF is not Bitcoin. It gives them at least exposure to the price of Bitcoin. And if anything, I would say this is a step in the right direction. The only way this cannot be a step in the right direction if we're talking about maybe a Quebec pension fund buying into FTX.

Either way, this news is bullshit. Is it FTX or Celsius? I thought it was FTX. It might have been FTX and Celsius. What a fucking joke if they did that. They deserve to get re-acted if that's the case. They could have simply bought corn and just

still have it and it would have been up 3x or 2x from when they bought it a long time ago. Come on, man. Like, get some better advice. Learn and hold your own keys, by the way. That's another one. Everybody hold your own keys. Yeah.

Going back to these pension funds, that's a minuscule allocation, but it is a start. And if that allocation runs up, maybe it's like 0.001% of their total allocation. But after six months or a year, it's up to 0.09% of their total allocation. They're going to see that green, you know, those numbers in green, and they're going to be like, oh, what was this? And that might cause them to, you know to take a closer look at it, allocate a little bit more. Do you think, Len, and I agree with you what you said about the pensions, about the pensions have to be conservative and pensioners are the last person you want to screw over. They're the last people you want to rug, are the people that have been paying into the pension

for their entire careers. So I'm with you. What do you think, though, about fiduciary duty to these that these pension managers have that. If they don't invest in Bitcoin. And Bitcoin goes crazy. And all their all their corporate bonds and all their government bonds that these pensions hold if they tank? Heads are going to roll.

Heads are going to roll. For sure. They can't sit in the position that they're in currently if that plays out the way you described it. They're going to have to answer some tough questions as to why it is that there was this asset sitting there right under their nose that they could have purchased even in small quantities and didn't do so and relied heavily on bonds treasuries they may be mandated to buy a certain

amount of bonds and treasuries i'm not sure depending on how the structure is set up but they have some leeway what else they could buy they might be buying apple stock maybe buy gold why not throw a flyer and buy like these guys 52k worth of a bitcoin etf what's a bigger risk in your opinion buying bitcoin or not buying Bitcoin? Well, I think I'm the wrong person to ask that because I'm automatically going to say not buying Bitcoin. Much bigger risk. Not buying any Bitcoin. If you're in a pension fund or you're in a hedge fund

or you're in some sort of big family office, the wrong allocation is zero. I don't know what the right allocation is. Look, even if you're a pleb, look, like I said before, not financial advice. And if this is the first ever Bitcoin podcast that you ever come across, you're watching this on YouTube, please do your own research. Keep learning, keep moving forward. That being said, I don't know what allocation each individual person or which individual business should have of Bitcoin. I don't know if it's 100%, 50%, 10%. But I do know that the wrong allocation is zero.

I'm with you 100%. And that's a really good answer. Whatever the right one is. Now, Michael's saying here that a Bitcoin standard allocation percentage will emerge for each class of investor, give it time. He's right. We may not have a concrete number

for each class, but at least tying into what you're saying, it definitely won't be zero. It's got to be higher than that. I agree. I agree. I don't like the term investor when we're talking about Bitcoin.

If you're a business though, and you're putting it in a balance sheet, I think that you the term investor when we're talking about Bitcoin. If you're a business though, and you're putting it in a balance sheet, I think that you are an investor. Maybe, maybe. Is it? And you just simply buy it and holding it. Not just the,

I'm just talking even corn, like actual holding your own keys because the company is not going to keep it to the end of the company's days. Eventually they're going to do something with it, either sell it, trade it for good or service or borrow against it there may be other options i'm missing but i think those are the ones that are probably most likely to happen so as a business is most likely to be an investor into bitcoin because you're using it it would be interesting

to talk to one of these businesses and just to get to know, like, why did you put Bitcoin on your balance sheet? I'm sure everybody's different. I'm sure every business has their own reasons. I'm going to put my CBP cap on, even though I'm part of it right now. Because our business owns corn and we have it on our balance sheet. Why do we have it? Because what else are we going to have it in? Cash?

Yeah, exactly. Granted, we're a small business, but I could just honestly say that long term, this is going to be the best thing for us because it makes sense. Then it's not really an investment. It's savings. Okay, that's a good point. It's a tool that we could use moving forward, similar to what cash would be, but at least we think that it would be, give us more flexibility moving forward.

And that's what savings is, flexibility going forward, right? Yeah. That's a really good point. I mean, I'm not disagreeing with what Michael said. It's a good point. I just believe that Bitcoin is a savings technology. It's not an investment technology. And Isaac writes, and by the way, I just want to plug

the Bitcoin on Discord, which that's where he's coming from. I think that's where I first interacted with him. He writes, the right allocation is as much as you can without taking on more short-term or medium-term volatility risk than you can handle but that sounds crazy doesn't sound crazy to me i agree i i agree with and yeah thanks for tuning in isaac he's um i i by the way the folks at the bitcoin on uh discord bitcoin or bitcoin discord they're fucking phenomenal check them out and mr arnome i just want to thank him personally last week he was able to sub in for joey just like you are thank you you guys are awesome i appreciate everybody for you know both you and he for subbing in for joey this is we have a great team over here i

have a great bunch of uh people we could tap into this is you know simply awesome well it's like i said before len if i would i'm either going to be here talking to you or i'm going to be in the chat like chatting with the people in the chat it doesn't make because i get it i was going to be here no matter what so anytime oh i got it it's just it's still it's very humbling um cynthia lamis not sure if this i think everybody saw i know she proposed a bitcoin act i don't want to talk about that but and for people that aren't aware what the heck that is, that's the United States looking to purchase 1 million Bitcoin over a period of five years. And if that were the case, that would be about $90 billion, give or take, depending on the price of Bitcoin, I guess. Yeah, almost $91 billion would be that um the two options they have they could either hook up the money

printer directly to bitcoin exchange or she's suggesting an alternative is to sell gold because the united states currently has hang on let me get the number correctly 248 they have air quotes 248 ounce million ounces worth of gold and apparently that's around 675 billion dollars in today's market and so this way her idea of selling the quote-unquote gold they have they don't have to go into debt to buy any bitcoin and that would also have a different impact different effect it would collapse the gold market if they're going to just simply dump that much amount of gold into the gold market even over a five-year period of time it wouldn't go unnoticed but it's an idea she's proposing they use whatever they have of fort knox to purchase their bitcoin i don't think anything's going to happen like this do they have

the gold i will say yes but will they sell it i'll say no i agree i don't even think they have it a lot of people think like you i i i just don't i mean i watch goldfinger remember goldfinger is that the movie james bond i never yeah i never watched james bond yeah goldfinger just like he does something to the gold in fort knox where he like turns it into like some green thing he like puts a gas and it ruins all the gold in Fort Knox where he like turns it into like some green thing. He like puts a gas and it ruins all the gold in Fort Knox so that the gold that he owns is, is the only, is the only pure gold.

So that was his big plan. No, I, there's no, I highly doubt there's any gold in Fort Knox. Maybe I'm wrong. I don't know anything. I've never been there.

But the fact that you and I are talking about it, it goes to show exactly what makes Bitcoin so much more superior. Because I can verify that Bitcoin exists if they give me an address and they sign a message from that and you could figure

shit out. You could verify that you have X amount of... If you're a country that wants to be transparent and say you own something, it's so easy to do with Bitcoin. With gold, we're debating the fact that they have it. That goes to show you that the properties

are the two things. They may be trying to achieve the same thing, but they're totally different. I can't verify shit with gold. Trust me, bro. I got it. Try settling a billion dollars worth of international trade with gold you gotta send a few what are you gonna do yeah warships and then where are you gonna store the gold how are you gonna you know what bitcoin 100 so i want to go like

one of the reasons i used to like gold i this is i don't not anymore i fucking hate it now there's a reason I'll explain why. And I'm embarrassed to say I used to like it. And the reason why something, there's two events that happened in the last three years, two years, is number one, Venezuelan gold was stuck and could not be repatriated back to Venezuela

and is stuck in London vaults. And second thing, Russian gold could not have been repatriatedenezuela and is stuck in london vaults and since the second thing russian gold could not have been repatriated to russia and it's stuck in london vaults russian courts deemed that they frozen those assets they're stuck there not your vault not your gold and that goes to show that at that point it's like fuck this there's no point in owning gold it's bitcoin all the way because if you have your keys nobody could stop you the network always runs yeah you simply broadcast a transaction you'll get picked up by a miner where you go afghanistan also had their gold rugged did they have i didn't hear that was it

a significant amount too like nothing that matters any of them it was for them. Yeah. That's fucking bullshit. You get these stories like that. I can't believe people could read and hear those stories and say, yeah, I still like gold. The fuck are you doing, man? It's not a store of value at that point. Whoever has possession of it has possession of it.

It's not yours anymore. It's like putting your money in the bank. The bank fucking then was a fractional reserve that shit away. Fuck that. The only thing that gold has over Bitcoin is that 5,000 years of history. That's it. 100%. That's all they have.

It's gone. They're at what? Like $18 trillion market cap of gold? I thought it was around $14 or $15 trillion. It's higher now. Gold's gone up. Gold is now close to $3,000 an ounce. So Bitcoin now, in the span of 15 years, almost 16 years come January,

they have gotten close to one-tenth of the market cap of gold. We're over one-tenth now, right? If it's one point, because we're like 1.4 1.5 trillion for bitcoin we're close to two now we're at 90 000 right yeah 90 000 us 21 million so we're i mean do you use 21 million or do you use 19.7 million that's been mined like what do you use as the total market cap the last price plus it's 1.8 trillion yeah so we're getting yeah we're close to oh so look at and look how far how fast things have progressed in almost 16 years and really the bulk of it in the past five six seven since 2017 really that's the a lot it's a lot of money that could pour out of gold and

into bitcoin and it doesn't mean that it automatically overtakes it and becomes the same type as if theoretically if there's ever a mass sell of gold it's going to depress depress the price significantly and the market cap is going to take a massive hit so it's not where cynthia lemus's's at with this, with the idea of diversifying their sound money assets, the idea of selling the gold to buy the Bitcoin. I like the idea. I just don't think that's how it's going to play out.

I think you and I have talked about this before, about how governments... I would like to see governments mine Bitcoin. We talk about Bhutan on the show all the time. We don't. You guys do. You talk about the nation of Bhutan, El Salvador, obviously getting into the mining game.

I think that's a better way. Bitcoin doesn't care what I think and what I want. Nation states are actors just like individuals are in this Bitcoin thing. They'll get in. They'll buy what they want. They'll do what they want. uh nation states are actors just like individuals are in this bitcoin thing they'll get in they'll buy what they want they'll do what they want but if i had my way i'd like to

see these nation states mine it themselves um i'm talking about bob burnett again uh he he believes that nation states are going to want to have control of the hash rate, the blocks, so they can have a say what goes in the blocks, right? So building a strategic Bitcoin reserve through mining, having, you know, I know, I know Bitcoiners, we don't like, you know, government getting involved in stuff. But if they were going to get involved in something, I think mining infrastructure would be a good one, so that they could ensure that they have block space to put in their transactions for the countries.

That's an interesting point, yeah. And they will, because let's be honest, countries like Bhutan, Ethiopia, and El Salvador, they don't have the ability just to use their own currency because their currency is not worth very much.

And they probably don't have a lot of excess which they could buy Bitcoin, especially like El Salvador. They don't even have their own currency. They've adopted the US dollar 20 years ago as their official currency. So what do they have as a way to parlay that into a hard asset?

Well, excess energy. And like Ethiopia is building a dam. Gosh, I forget the name of it, but it's generating a lot of excess electricity and you're using that to mine Bitcoin. It makes sense. Bhutan does the same thing. Seasonally, they have excess electricity.

What do they do with that? Rather than selling it off to their neighbors, they're just mining Bitcoin. And as the demand goes up for electricity and they don't have any excess, scale down the mining operation and it works perfectly as a load balancing tool. So it works great for them and they don't have to invest all that much right now the cost for mining bitcoin the last i saw was around thirty nine thousand dollars if you consider electricity

and everything else and the price of bitcoin is sitting at what like 91 ish thousand so there's opportunity to make some decent gains if you could get your hands on some equipment rather cheap especially something like an s19s and anything along those in that category because that is last generation you're not going to pay a heck of a lot for that yeah the grass you're not going to mine a heck of a lot at the same time but you know if you want to start learning how to do it and understanding the process for setting up a mining operation without putting in that much capital, you could get something going. And then, wow, boom, all this excess electricity, mine Bitcoin. And as people need electricity, because as the economy continues to get better, it incentivize creating electricity for people.

It keeps electricity prices down, which is what if you're a government, that's one thing you would want for your people is making sure that your energy costs are down. So it does that. If you're a nation state, you got to think that you have a longer time preference than a shorter time preference. I get those confused all the time. But you're thinking further ahead than if you're just a company, right? Like if you're a country, you're thinking about for the next 100 years,

1,000 years, right? So that aligns. Yeah, I can't wait to see more of it. I mean, look, government of Canada, you got a couple of Canadian big corners right here. Give us a call. Like, we'll help you out. But they don't generate electricity.

This has been pawned off to the provinces for them to do. So that's what you're going to have to, you'll have to talk to the provincial entities. Now, Isaac's saying governments have an extremely difficult game to play as far as the Bitcoin purchasing goal. Unless you could buy in secret legally, you really, really ought to mine instead. That's right for a lot of governments, but there's a lot of governments that don't operate in a transparent manner, so

they can theoretically buy and do it. If the kingdom of Saudi Arabia, for instance, if they want to buy some Bitcoin, do they have to expose this information? They just simply do it. The kingdom does it. But isn't that the best way? If I'm game playing this

out instead of buying the bitcoin on the exchange if i'm a government i think mining it and then somehow incentivizing bitcoiners to come to your country and giving them the option to pay their taxes in bitcoin that'd be that's a good way to yeah now then it's going to highlight the limitations of layer one because i hope that people aren't going to be using layer one as a way to move bitcoin around it's slow it's cumbersome could be costly at times and then so it just goes to show is layer two ready for this are we is lightning ready for small everyday purchases a lot of people say yes but even with that there are limitations too it doesn't scale to all eight billion people in this world so something needs to be done with

bitcoin yeah i completely agree like do you want to be competing if you're if you're doing a dca every every week every month every day whatever you do however you want to be competing? If you're doing a DCA every week, every month, every day, whatever you do, however you decide to stack sats, you're competing against your own government who's also buying and stacking sats. I can't stop anybody from doing it. Bitcoin doesn't care. Bitcoin doesn't care. Capitalist market. Capitalist market. Capitalist market. But just me personally, as I would rather to see my government, like I said, mine it, some sort of tax. And, you know, I'm not a big tax guy.

I don't like paying taxes either. None of us do. But some sort of incentive to get Bitcoiners to come to your country. Give them some kind of, okay, you pay a little bit less in tax if you pay in Bitcoin and accumulate Bitcoin that way instead of going out on the exchanges and competing with your citizens. Yeah, that's a good point. Boomer, we've had this for a little bit over an hour. I think it's time we wrap up this segment of the show and then we'll transition to the rest of the news that makes us also bullish on bitcoin so not sure if you have any parting words you want to uh to say right now

but you don't do anything when we're in anybody listening and watching or watching stay tuned we're not cutting this off but the audio will cut off shortly so don't be a cuck don't be a cuck yes and with that take care