Congress Just Filed to Buy 1 Million Bitcoin! (Nobody Noticed)

Added: 2026-05-24

[00:00:00]Breaking. Jerome Pal is out. Kevin Walsh is in. Sworn in by Justice Clarence Thomas yesterday morning. Bye-bye. 2% inflation target. Hello. Grow our way out of debt. Grow our way out of debt.

[00:00:15]What he means is we're going to inflate it away. We're going to grow the money supply. Which brings us to the other story today. Except it's not really the other story. It is the same story.

[00:00:26]Because while one branch of government was busy installing a man who's about to plummet rates, another branch was busy passing a bill to buy a million Bitcoin.

[00:00:36]Congressman Nick Beg's strategic Bitcoin reserve bill just picked up its 21st co-sponsor, not prophetic at all, 200,000 Bitcoin a year for five years. funded by revaluing the gold the Treasuryy's been pricing at $42 since Nixon was on TV. By the end of today's show, you will understand why no one is bullish enough.

[00:01:03]Bullard helmets on, special shoes laced.

[00:01:08]Oh yeah.

[00:01:14]>> What's going to happen? I had a rotten head of the Fed and now I have a great head of the Fed today.

[00:01:20]>> [applause] >> Kevin Walsh.

[00:01:23]Kevin was just sworn in today. He's great. He's going to be great. And now Congress is on the cusp of passing the most important piece of housing legislation in a generation. But to be honest with you, housing is all about interest rates. I know more about housing than anybody in history. No president's ever. I built a lot of housing and they could pass all the bills they want. It's about interest rates. Once you get the interest rates down, everybody's going to be very, very happy. We're going to get it down very quickly.

[00:01:52]>> Okay, before we get to the news today, we must say goodbye to a legend. That's right. Get off your ass and give this man a salute. The CEO of the Bitcoin marketing team for years. Told Trump to off. You have to respect it. And you know, I kind of get their beef now. And why he can't be fat chairman anymore.

[00:02:14]You see, unlike Kevin Worsh, JPAL wasn't in the Epstein Files. At least as far as I know, unlike Trump and Worsh. And that's not how you get promoted in America. So maybe in a weird way, it all makes sense now. Maybe, just maybe, Jerome was actually reviewing Trump's expenses for the ballroom the whole time. Anyway, Gutspeed Legend, no vent chair will match the timeless historic iconic memes you provided and thus Bitcoin ammunition and Bitcoin education. Oh, and how could we forget your hatred of hippies?

[00:02:56]>> How by refusing to treat climate change like a rising Thank you very much disaster.

[00:03:04]>> Thank you very much.

[00:03:07]Thank you.

[00:03:11]>> Just close the door. Close the door.

[00:03:16]>> Damn it. I'm going to miss him. All right, enough with that. Now, let's start with Worsh because before you celebrate the guy who's about to plummet your rates, you should probably know who he is. Kevin Worsh is a hawk. Career hawk. Lifelong hawk. the Reuters profile that dropped yesterday and I'm not kidding literally said this guy spent years warning about runaway inflation when inflation was quote flatter than a pancake. That's a real sentence from Reuters and NPR about the new Fed chair.

[00:03:44]Schwab pulled his old speeches. Here's one. With inflation above 2% for five years in counting, the committee can't be complacent. He said that on the record. Yeah, that sounds like a guy who's about to cut rates to me. Real dovish energy. And this is the guy Trump just hired to plummet. Interest rates with inflation at 3.8% with gas at 450 a gallon. Well, we're doing whatever the operation star humanity in the straight of horos. So ri me this. What happens when you take a man whose entire 20-y year career is built on the premise that printing money is and you put him in charge of the printer and the boss who hired him is on TV every morning screaming, "Print more." I'll tell you what happens. He prints more because here's the thing nobody wants to talk about. There is no version of this story where Kevin Worsh becomes Vulker 2.0.

[00:04:36]Vulkar headquarters permission to wreck the economy to save the dollar. Worsh has Trump. Trump does not give permission to wreck anything. Trump tweets and does it himself. So Worsh has two doors. Door one, he holds the line.

[00:04:51]Trump nukes him on Truth Social. Markets melt and he's gone by August. Door two.

[00:04:56]He finds a clever new framework with a clever new acronym. We all love acronyms. Gives a clever speech about forward looking neutral and cuts with a straight face. Pick one. There is no door three. And listen, if you think I'm being cynical, look at the market knows Bitcoin dropped under 77K on the news on the day a pro Bitcoin Fed chair got sworn in. Think about that. The most Bitcoin friendly fed chair in history takes the oath in Bitcoin sells off because the market isn't trading what Wars says. The market is trading what he was hired for. Which conveniently brings us to the other thing that happened yesterday. Well, Worsh was getting sworn in by Clarence Thomas, a congressman from Alaska named Nick Begage was on the House floor doing something much quieter, but much more interesting. He told us at Bitcoin 2026 something big was coming >> uh in the House and Senate will be familiar with the Bitcoin Act and the Bitcoin Act uh came out in the 118th Congress. Senator Lumus uh introduced it in the 118th. Her office and I worked together on some revisions, some important revisions to uh that legislation and I introduced it in the House. She reintroduced it in the Senate in the 119th Congress. That's the Congress that we're in right now. Uh I've been working that legislation in the House and um there's been a number of uh folks that I've spoken with on the financial services committee and other important uh committees of influence and we've gotten some really good feedback from folks about what uh they would need to see in order to vote yes on this legislation. And so, uh, we've been working with the Financial Services Committee to make some updates to that act. And we'll be planning on reintroducing this as the American Reserves Modernization Act or ARMA. And why why the renaming? Because it's so important for people both in Congress and across the nation to understand what we're actually trying to do. We're trying to make sure that Bitcoin is treated like the reserved asset that it is. We want to make sure that we have a place uh to to store our Bitcoin, that that Bitcoin is going to be held for a long period of time, that it's going to be prevented uh from being attached, right? So, you can't lend against it, and we can't have that political pendulum that we see so often in the United States impact our reserves policy as it relates to Bitcoin. It allows us to go out into those government agencies, identify where Bitcoin is currently being held, and custody that Bitcoin in a responsible manner consistent with its reserve status. And so, this has been uh one of the many things that I've been working on in Congress. I'm proud to say that as of today, uh I've passed more legislation into law than anyone in the House or Senate. And so, uh we've got a strong Thank you.

[00:07:50]We've got a strong focus in my office to construct legislation that has an opportunity to pass both chambers, and that's what we're doing with the American Reserves Modernization Act.

[00:08:01]>> Wow. What's the uh rough timeline there?

[00:08:05]>> Well, I'll tell you what, I don't control the timeline. That's one thing I don't control. Uh but we're looking at a reintroduction here within the next couple of weeks.

[00:08:14]>> Amazing. Arma, you heard it here first, folks.

[00:08:18]He's modernizing the US balance sheet by accident on purpose. Here's the bill.

[00:08:24]It's called the American Reserve Modernization Act, Arma. And to understand why Arma might be the most important piece of legislation filed this decade, you have to understand one fact about how the US government values gold. The Treasury owns 8,133 tons of gold, roughly 261 million ounces, sitting in Fort Knox, allegedly West Point, Nault under the New York Fed. On the official books, the books Congress votes on, the books the Treasury reports to the public, the gold is valued $42 an ounce, $42 gold trades on the open market today at $4,522 bucks, something like that. The number has not been $42. Since tricky dick Richard Nixon was apologizing on television 1973, 53 years ago, the Treasury has been pricing its gold like it's a CocaCola in a '7s vending machine. Real value of US gold reserves on the books, allegedly 11 billion. Real value at market, $874 billion. That's an $863 billion discrepancy hiding on a public balance sheet for half a century.

[00:09:33]like a couch cushion with a Picasso in it. Begitch's bill says, and I'm paraphrasing only slightly, hey guys, what if we acknowledge the couch cushion, stroke of a pen, no money printed, no new debt, no congressional spending vote. You just write the real number next to the gold line and you suddenly have 800 billion of new reserves on the Treasury's books.

[00:09:53]Reserves you can spend. Spend on what?

[00:09:57]Well, I'm glad you asked. 200,000 Bitcoin a year for five years. 1 million Bitcoin total, roughly 4.7% of the total supply that will ever exist on this planet bought with gold that was already in the basement. Reminds me of an evil genius strategy. So the very simple idea is buy 20 or 25% of the Bitcoin network uh on behalf of the US government, catalyze the development of that world reserve capital network and then let all the Chinese and the Russians and the foreigners sell all their other assets and buy Bitcoin and then the money flows into the United States. If you want to put a a great a great twist on it, dump your gold, sell all the US gold, buy Bitcoin, then the trade is free because you could buy 5 million Bitcoin for the cost of the gold. You will demonetize the entire gold asset class and our enemies hold gold in their banks. So, their assets would go to zero. our assets would go to a hundred trillion dollars and we would control the world's reserve capital network as well as the world's reserve currency network >> as usual. You're painting a um grand and and vivid picture, Michael, with this kind of stuff.

[00:11:15]>> No taxpayer pays, no deficit grows, no bond gets issued. You just swap one monetary asset that central banks have been hoarding for years for a different monetary asset that central banks are going to be hoarding for the next foreseeable future century and beyond.

[00:11:32]And here's the part where it gets weird.

[00:11:34]Judy Shelton, Trump's old Fed nominee, the gold standard lady, has been quietly shopping a 50-year gold convertible Treasury bond, wants to launch it on July 4th. Same playbook, different instrument. They're not testing a Bitcoin trade. They're testing a framework. Gold is the rehearsal.

[00:11:53]Bitcoin is opening night. Now, I want to spend a minute on the name because the name is the entire strategy. And almost nobody noticed. Begage did not call this the Bitcoin act. That was Lumis' bill last year. Dead and arrival couldn't get out of committee because the second you put Bitcoin in the title, all the witchcraft and eye of Liz Warren comes down. You give every undecided senator a free permission slip to vote. No. And I'm not really a Bitcoin guy. I'm more in the soy. Done. Killed in the headline. Begage learned. Watch what he did. American Reserve Modernization Act.

[00:12:28]Every word in the title is doing a job.

[00:12:31]American patriotic. You can't be against that. Reserve sounds like the boring thing the Treasury already does.

[00:12:37]Modernization.

[00:12:39]That's the kill shot because now the vote isn't I don't like Bitcoin. And the no vote is I'm against modernization.

[00:12:47]Boomers got to appear hippen with it.

[00:12:50]Try running re-election campaign on that. My opponent wants to modernize. I want to keep doing it the 1973 way. Good luck. He didn't write a bill. He wrote a political trap. He learned from the state itself. He patriot acted the government. Incredible. And it's working. 16 co-sponsors at filing on Tuesday, 21 by Friday. bipartisan ban eps co-leading on the Democrat side.

[00:13:14]This is not a fringe bill. This is the bill that goes to the floor. Three things it actually does, and I'll keep it short because I know we don't like reading PDFs. One, codifies the SB is permanent statute, not an executive order. Trump signed and the next president throws in the shredder actual law, the kind that takes another law to undo. Two, authorizes the Treasury to acquire 200,000 Bitcoin a year for five years. Hold a minimum 20 years. No selling, no lending, no rehypothecation.

[00:13:43]That brings us to three for the Bitcoin nerds in the chat. Cold storage, multi-IG, the whole posture. We're beginning to see what coordinated sovereign accumulation looks like in legislation right now while the price is under 77K. And I think that is the signal that the time is now to get your Bitcoin off the exchanges. We're about to pray at home today. Before we do, look at our legs.

[00:14:07]>> Three or four times maybe.

[00:14:08]>> I got to pump those numbers up. Those are rookie numbers in this racket.

[00:14:11]>> Most of you watching right now have your Bitcoin sitting on an exchange. You don't own it. You have an IOU. And when blockchain goes live and they freeze your account because you reposted the wrong meme, you're going to wish you self-custody. The Bitcoin way exists because self-custody shouldn't require a computer science degree. White glove on boarding. They walk you through your hardware wallet setup, multi-IG, inheritance planning, the whole stack.

[00:14:39]So when the system melts down, your stack doesn't melt with it. If you don't hold your keys, you don't hold your Bitcoin. Book your free consultation today. Click that link in the description, scan the QR, head over to the Bitcoin way today, and stop renting your freedom. And here's the dirty secret about every other Bitcoinbacked lender. They're lending your collateral out. They're rehypothecating it. They're playing the same fractional reserve game the banks play with your Bitcoin. And when the music stops, your stack is gone. Let do that. Their custody loan product means your Bitcoin sits in cold storage. Never lent out, never touched.

[00:15:24]That's the Satoshi standard. Eight years, 10 billion dollars in origination. Zero customer Bitcoin lost.

[00:15:31]Lowest rates in the industry. No hidden fees, no fine print. Auto topup so you never get liquidated by a wick. Zero prepayment penalties paid off whenever you want. Don't sell your Bitcoin to buy a house, a car, a business. Borrow against it. Keep your stack. Scan the QR or click the link in the description and head over to leaden.io today. Which brings us to the funniest part of this entire week. On the same day of Bitcoin friendly Fed chair gets sworn in on Bitcoin pizza day by the Supreme Court justice and a bipartisan bill drops to buy a million Bitcoin with revalued gold. On that same day, the price of Bitcoin went down below 77,000 lowest level since February. Bitcoin Twitter morning. The reply guys who were calling for a million bite Christmas have gone dark. Not this guy. I'm always bullish. THOSE GUYS ARE SUCKED AS BABY [ __ ] HALF OF THEM are now subweeting about altcoin season. The other half they're taking breaks from the timeline to start learing centers or some [ __ ] Smells like capitulation. And I really want you to sit with that for a second because this is the lesson of every Bitcoin cycle. and you need to learn it now or you're going to learn it the expensive way later. The bottom is not a price. The bottom is a feeling. The bottom is the moment when the news is the most bullish and the chart is the most boring or depressing. Emotional damage. That's what you should feel. And the people who were the loudest at the top are the quietest at the bottom.

[00:17:05]That's not coincidence. That is by design. Markets transfer wealth from the impatient to the patient. The Federal Reserve and the US Treasury just handed you a flashing neon sign that says, "We're going to print money and buy Bitcoin with it." And the response from Bitcoin is to be sad about a 35% draw down. The market already knows what's coming. The macro guys see it. The gold guys see it. The bond guys see it. The only people who don't see it are the degenerates who are too demoralized by a little red candle to read the news on their own screen. So, let me say it one more time slowly so it lands. The United States Congress just filed a bill to buy a million Bitcoin and the price went down. That is not a top signal. That is the inverse of a top signal. This This is what sovereign accumulation looks like before the rest of the market wakes up. Tops are when your grandma apes into Bitcoin. Bottoms are when Congress does.

[00:18:03]So, let's land this plane the most expensive meal in human history, commemorated by the United States government, installing a new money prayer. You cannot write this stuff. The script is being written for you in real time by people who do not even know they're in the script. Now, the part where I tell you what to do, I'm not going to tell you what to do. You know what to do. You've known since 2017 or 2020 or last Tuesday, the signal hasn't changed. The signal has only gotten louder. This week, the signal showed up in legislation with co-sponsors 21 and a Senate confirmed Fed chair holding the other end of the trade. What I will tell you is what not to do. Do not wait for confirmation. The confirmation arrived this week on Treasury letterhead. Do not wait for Bitcoin to feel better. Bitcoin is not going to feel better at the bottom. That's why it's the bottom. Oh, and if you're serious about Bitcoin mining, there's one event you need to be at this summer. Mining Disrupt 2026.

[00:19:00]Miami, July 21st through the 23rd. This is the conference for miners, hardware makers, energy companies, and anyone building real Bitcoin infrastructure.

[00:19:11]Keynotes, panels, massive expo floor.

[00:19:13]The deals that shape this industry happen here. Use promo code simply bitcoin for 20% off your tickets at miningdisrupt.com and we'll see you in Miami. Hope y'all enjoyed this one. Let us know down below. If you're new here, subscribe.

[00:19:27]What the hell? We do this every day through the chop, through the doubt, through the geopolitical noise because the signal is louder than it has ever been. And the people who hear it now will be grateful in 2030 that they did.

[00:19:40]Give us a pimp. Share the sound gospel.

[00:19:43]The Bullard helmet stays on. The special shoes stay laced. And I'll see you all next time. Love you guys. Peace.

[00:19:50]>> If you prefer to go down with the ship, you