You Won't Believe What's Really Happening To Bitcoin...

Hinzugefügt: 2026-05-31

[00:00:03]Why is Bitcoin crashing and what comes next? That's what everybody's wondering right now. As we've seen Bitcoin crash, quote unquote, from $83,000 to $73,000 in the space of two weeks. We're seeing countries home to 85 million people demand that they only want to get paid in Bitcoin. We're seeing institutions, Wales, and long-term holders quietly increase the amount of Bitcoin they're buying. We've got Michael Sailor saying he's going to be buying Bitcoin forever.

[00:00:42]But then on the flip side of the equation, we have everybody's favorite counter indicator, Jim Kramer, coming out and saying Bitcoin's lost the plot.

[00:00:53]But we also have billionaires like Mark Cuban saying that he's sold all of his Bitcoin. So there's a lot of conflicting information right now in the Bitcoin space, I want to explain what's happening at a bigger picture. First, before we drill down into looking at who's buying right now and let's call it what it is, have a look at what incentives they might have to be playing silly buggers with the Bitcoin price.

[00:01:26]Let's start with this Michael Sailor interview that I saw released on Tuesday.

[00:01:33]>> I heard you actually saying that you're probably going to buy all the Bitcoin that gets produced between now and 2140.

[00:01:40]Um, I don't know how your succession planning looks over its strategy, but how does that work?

[00:01:45]>> Well, the the miners produce about 450 Bitcoin a day. That works out to say 10 to 11 billion a year, >> right?

[00:01:53]>> We bought 11 billion of Bitcoin so far this year, and we're not even halfway through the year. So, we're already buying at 2x the rate at which they're able to produce it. Um, the the digital credit business, STRC, has been an explosive success. It's gone from 0 to10.5 billion outstanding in 10 months, but we sold about $2 billion of that credit in May, which means we're at a 24 billion run rate. So just that one instrument alone is going to account for two to 3x the Bitcoin supply that's produced by the miners >> as well.

[00:02:30]>> Yeah. Once we've bought all the Bitcoin available by a natural seller, the price has got to actually move up to find a willing seller. So the way to think of it is there's a there's a consistent bid that covers all of the natural organic sellers and once once that happens every single time $10 billion of capital flows into this marketplace that's one year supply or one turn on the axle. So you know 10 billion or more may flow into the ETFs like IBIT that's one source of demand. Banks are creating credit. So when a bank issues or creates10 billion dollars of credit against Bitcoin that's another year supply >> other companies like Strive are are selling credit instruments like S SATA SATA that's creating demand and of course our company's creating massive amounts of demand all of those things are just turning the axle powering up the network driving up the price and they have an effect of damping the volatility one of the reasons if you go back about four years we traded down 75% peak trough and this time uh the draw down wasn't nearly as bad and the reason why is because there's another source of demand that's consistent every day.

[00:03:47]>> So the big question to end that little clip with is is the Bitcoin correction over or are we going to go lower? This is what a lot of people is asking today on the 28th of May. A lot of people think that we're not going to bottom until October. I want to explore that possibility, but I want to talk about the bull case. Michael's said what a couple of weeks ago he thinks the Bitcoin winter is over. And a lot of people are pointing to these new demand sources that Michael referenced in that clip like Stretch and like a lot of the other big entities right now buying Bitcoin in size during this correction which we don't know yet but this correction could be different. I want to start with the bullcase because I saw this I thought this was kind of interesting. This is Space X.

[00:04:43]They reportedly own 18,000 Bitcoin worth more than $1.45 billion.

[00:04:50]This got released this week because of the whole Tesla, SpaceX, let's call it what it is.

[00:05:02]I I don't I don't want to call it a merger, but SpaceX's uh news them turning into a public company means that they had to disclose what they hold on the balance sheet of SpaceX. That's super interesting that they hold so much Bitcoin. By the way, that's the world's richest man, Elon Musk, who Michael has tweeted at many times. Think that's interesting. But of course, right now we also have one of the largest spikes that we've seen in longterm holder momentum. That means whales are buying the dip. Wallets that are not known to be sellers, wallets that are known to be net accumulators are buying Bitcoin in size right now. But they're not just buying Bitcoin. There's a reason why I've got a few Michael Sailor clips for you guys today because I think what Micro Strategy is doing is very interesting. Obviously, they have $62 billion worth of Bitcoin and this seems to have caught the attention of some pretty large institutional players. This is a graphic looking at the top 15 institutional shareholders of Micro Strategy. What do you notice about this column here? There's a lot of green.

[00:06:21]They're all increasing their positions in Micro Strategy. The dip in Q1 2026 has not shaken them out. Look at some of these names here. Vanguard, Black Rockck, State Street, UBS, Bank of America, the sovereign wealth fund for the Georgia Central Bank.

[00:06:45]These are enormous names.

[00:06:49]If they thought that Bitcoin was going to decline for another six months, do you really think they would be increasing their holdings of Micro Strategy? A leveraged bet on the Bitcoin price?

[00:07:05]I don't know. Again, I don't know where the price of Bitcoin is going, but I do think that's super interesting that we're watching the whales doing what they're doing right now. You've got entities that Michael referenced in that clip like Stretch. They bought another.

[00:07:23]It looks like they're going to be buying over 800 Bitcoin today. And like Michael referenced in that clip that we just played for you guys. There's a supply side crisis. There's only 450 Bitcoin mined every single day. And Michael said in that clip, he's going to be buying all of the Bitcoin between today and 2140.

[00:07:46]Now, a lot of people hear that and they say, "It's impossible. There's no way he could do that." But let's not forget Micro Strategy today, they have, let's have a look at the exact number. They have more than 800,000 Bitcoin sat on the balance sheet of Micro Strategy.

[00:08:01]Well, it's actually strategy. It's dropped the micro. We can see they hold today 843,000 Bitcoin.

[00:08:10]And a lot of people, they're not really running the numbers to understand that 20 million of those coins have already been mined today and they're in existence. There's only 1 million more coins that will be mined, released to the miners, and available to buy for the other 99% of the world that don't have a meaningful Bitcoin position in their own wallet.

[00:08:42]And of course, where is that Bitcoin going to come from? Well, people say, "Oh, there's Bitcoin on exchanges."

[00:08:49]Well, we're kind of watching again what we keep talking about on the channel here, a supply side crisis. We've seen a six-year trend of this purple line going down and down and down. A million Bitcoin have evaporated from the spot exchanges and the OTC desks and the only eventually the number of Bitcoin on exchanges will hit zero.

[00:09:17]If Michael says he's going to buy all of the Bitcoin mined over the next 114 years, where's the rest of the Bitcoin going to come from? Because I'm not selling mine.

[00:09:27]And you can see things get interesting.

[00:09:29]Like this is this is the chart that everybody needs to understand a very deep level. Today there's 450 Bitcoin mined per day. You can see if I try to zoom in here, that's that's a lot of Bitcoin. There's what is it? But if you zoom out a little bit further, if you look at let's say 2048, there is only 5% of a Bitcoin released to the network every 10 minutes. Let's do some quick maths and figure out how much Bitcoin that would mean every single day is mined. So, I'm going to go 0.05 * 6 * 24 7.2 Bitcoin per day in 2048.

[00:10:21]That is in most of our lifetimes.

[00:10:24]2048, 22 years away.

[00:10:30]Think about how much energy and think about how much money is being invested into mining Bitcoin today.

[00:10:40]Nation states, the president, let's not forget Trump Media still has a company that is mining Bitcoin. They also have the American Bitcoin company as well. And there's going to be 7.2 Bitcoin mined every single day.

[00:10:58]That's why I think we're seeing this positioning right now. And if you have the likes of Vanguard and Black Rockck buying as much Bitcoin as they can right now, do you think they would do everything in their power to accelerate or accentuate any small correction in the Bitcoin price that they can do?

[00:11:20]Of course they would. Look at them. Look at all these guys. Who remembers all of the rumors surrounding State Street. Who remembers the rumors surrounding Morgan Stanley and Bitcoin's price manipulation last year? Don't forget, they're still sat on a billion dollars of Bitcoin. Well, they're sat on a billion dollars of Bitcoin exposure through Micro Strategy. Now, speaking of micro strategy, something else that's a little bit interesting that I saw emerge this week is a lot of people saw this.

[00:11:54]They're critical of it, but because Michael tweeted out that he's buying debt this week, you can see Michael tweeted, "This strategy has completed the repurchase of $1.5 billion of its 2029 convertible debt notes."

[00:12:12]Now, what's interesting, this just deleverages micro strategy. I'm not a technical expert. I'm a little bit of a an idiot with a terrible haircut, so I didn't exactly understand what's happening, but I saw a breakdown that kind of explained it. Essentially, they're becoming even less and less leveraged, which is which is kind of huge when you think about it because you can see they got $62 billion of equity. They got $62 billion of Bitcoin on the balance sheet and everybody said, "Ah, they're going to have to sell the Bitcoin to pay the debt." I don't think they've had more than $10 billion of debt. That math just does not calculate.10 billion of debt, $60 billion of assets.

[00:13:04]What? Bitcoin's going to crash to $5,000 tomorrow. I mean, some people think it will.

[00:13:11]I I think it's unlikely.

[00:13:15]So, of course, I I think we're seeing the signs here that Strategy is preparing itself to buy a lot more Bitcoin. Let me read this breakdown. I thought it was really good.

[00:13:25]We can see let's explain the big updates.

[00:13:30]Strategy essentially retire the debt that was convertible to shares. They kind of did a share buyback which lowers the denominator of Bitcoin per share number.

[00:13:42]This essentially allows them to have less debt and transitioning to a fully equitybased model. And this obviously gives them much more optionality. I thought that was a good breakdown. Less debt. That's obviously what we want. You never want to be too leveraged.

[00:14:04]Debt is obviously like fire. Fire is helpful. Fire is useful if you know how to control it and use it carefully. So, I thought that was a big update from strategy.

[00:14:16]He gave us another big update. You know what? Before we get there, if you want to use FIRE controllably and borrow against your Bitcoin, I always tell you the best place to do that at is with Leen. Let's processed over 10 billion dollars of loans. They're one of the only companies in the world to do proof of reserves.

[00:14:39]Again, we would love it if every Bitcoin company had proof of reserves. Leen has them and they let you get liquidity to borrow against your Bitcoin. You can receive dollars in your bank account or dollars through stable coins.

[00:14:55]And you can even get a discount on your first loan if you click on the link in the description and use that link that is down below for you guys. Again, 40,000 trusted customers have used Leen to borrow against their Bitcoin. Kind of a nobrainer if you never want to sell your Bitcoin.

[00:15:16]Now, speaking of never selling your Bitcoin, got another clip from Michael Sale I want to play for you guys. I saw this, thought it was interesting >> for the entire I I expect that Bitcoin price will go up forever.

[00:15:32]And if Bitcoin price goes up forever, you could buy it forever getting exponentially less as the price goes exponentially higher, right? and uh and that would be good for the entire economy. I mean, for the entire crypto ecosystem, >> it's actually >> for saying never saw you Bitcoin. And >> that first clip was actually not the clip I wanted to play for you guys. I wanted to play this one.

[00:16:01]>> And that's why the internet went crazy when we said we might sell it. But uh if I was being more precise, I say never be a net seller of Bitcoin. it just wouldn't have been so viral or so catchy to say never be a net seller of Bitcoin.

[00:16:16]I think that in these periods, even if we were to sell one Bitcoin, we'd be buying 10 to 20 more Bitcoin. So, you're really talking about a situation where we buy 10 Bitcoin, sell one Bitcoin, buy nine net Bitcoin, and continue to create Bitcoin. It's it it should be a non-issue after people understand it.

[00:16:34]But right now, it's a colorful area of commentary. Is it possible for you to comment how do you sell one bitcoin and buy 10?

[00:16:41]>> Yeah, so the number one bitcoin accretion engine is stretch. Uh we sold $3.2 billion of strc in uh April. So we bought $3.2 billion of bitcoin. The dividend is about 80 to 90 million. So in the month when we're raising three billion we're we need to come up with uh 80 or 90 million to pay the dividend. So you would be in essence you would be buying 30 bitcoin selling one bitcoin >> right our um our break even rate is 2.3%.

[00:17:21]So what that means is that if we sell Stretch, if we issue stretch credit uh equal to 2.3% of our Bitcoin holdings, then that means we will be a net buyer of Bitcoin forever, even if we sell Bitcoin to pay the dividend. Another point is that if Bitcoin appreciates 2.3% a year, we can pay the dividends forever, right? And and continue to grow value, right? and we can do it without selling any any common equity. So the break even is 2.3. Right now we're we've um sold about $5 billion of STRC in the first four months of the year. So we're running on a pace uh to have an issuance rate of 15 or 20% this year. 2.3% is the break even. So you buy 20, you sell two, you net 18, right? the the company as long as it grows is going to buy more Bitcoin than it sells. I expect we'll be a net buyer of uh Bitcoin in every month and every quarter going on forever.

[00:18:28]>> This is the big picture takeaway I want you guys to walk away with. Shortterm, if Michael sells one Bitcoin to buy 20, that's a win. And this is something I just don't see in the discourse of people saying, "Oh, look at Michael Sailor's changed his tune." What people forget is for the first four years of Michael Sailor's strategy, the strategy was different. The strategy was buy Bitcoin, put it on the balance sheet of Micro Strategy and never sell it. People buy our stock, we'll buy Bitcoin. It was a different business model. It wasn't until last year when Michael started launching Strive, Strike, and Stretch that the business model changed.

[00:19:12]And if you have these preferred instruments that have to pay dividends, you're going after not only a different bigger market, but you have different liabilities. That's what people miss.

[00:19:27]Yes, Micro Strategy will end up dominating the equity market, the hundred trillion dollar global equity market. It's probably bigger. Micro Strategy would be an enormous company, but without these preferred instruments, it's limited to the size of the equity market. Now, Michael's going after the what, $300 trillion in fixed income.

[00:19:54]And a consequence of that is selling some Bitcoin from time to time to pay dividends.

[00:20:00]Again, I don't think this is a net negative, but he's not the only company doing this right now, which is why I think we're going to see a little bit of an arms race of these companies buying Bitcoin and creating these products, even though some will paperhand their Bitcoin. I did see this Trump Media sold a few thousand coins. People were talking about that. Again, I want to show you both sides of the story. Some people are selling, some people are buying. That's why Bitcoin's going sideways. Rocket science, don't you think? But again, I I think what these big entities are doing is huge. We can see Strive bought $80 million of Bitcoin last week.

[00:20:44]That's two days of supply gone. That's another company battling Michael to get their hands on those limited Bitcoin that's going, what is it? 1 million Bitcoin that's going to be mined between now and 2140.

[00:21:00]There's not a lot.

[00:21:02]There's not a lot. And the world is going to be forced to come to the realization that it needs Bitcoin because what's happening? We've come to the end of an era.

[00:21:15]We're living in a global debt crisis.

[00:21:18]Look at the Japanese bond yields. Yields going up like this means bonds value is going down aggressively.

[00:21:32]This is huge.

[00:21:35]It's actually kind of insane. And the one of the takeaways I want you guys to have with you today is understanding this chart. This chart shows you that every single year, Bitcoin will move very aggressively, very violently, and its 10 best days always outperforms the rest of the 355 days combined. And it is little shakeouts like what we've just seen that scares people into thinking they need to time the market when that is a terrible idea.

[00:22:15]I mean, I'll warn you, big caveat, this channel is not a TA channel. I'm never going to tell you to draw squiggly lines on a chart, but I don't see anything out of the ordinary for this little pullback for Bitcoin. Looks like a higher low for now. So, even for my short-term trading bros who think Bitcoin's going down to 50K, I don't know.

[00:22:41]I mean, still looks like a higher low to me.

[00:22:47]And I know a lot of people are looking at three red candles on the weekly and they're going, "Oh man, it's all over.

[00:22:54]Ben Cohen was right.

[00:22:58]We're going back to 30K and we we're going to get there in October.

[00:23:04]I don't know. It's a possibility. Don't get me wrong. I but again the trend is your friend for now.

[00:23:15]This is just a little bit of a pullback.

[00:23:16]We did rally from 64k to 83k in a month.

[00:23:24]Just keep that perspective with you. If you are somebody sitting on the sidelines with massive bags of cash hoping to buy Bitcoin back lower later, Bitcoin moves and it moves quickly and it moves aggressively.

[00:23:41]And when you've got governments doing the advertising for Bitcoin like we're seeing from all around the world, more and more nation states are introducing digital IDs. They're calling it social media bans. They're rolling out digital euros and digital CBDC's.

[00:24:00]By the way, I have the most ridiculous deep dive video coming out for you guys this week. So, make sure you subscribe for that one because it is going to be huge. I literally probably put a hundred hours into putting it all together.

[00:24:17]Again, it's going to be a big one. Make sure you subscribed.

[00:24:21]And if you, by the way, if you do like these breakdowns that we do in video format, but you can't handle the big dirty Australian accent, I'm going to be putting more time and focus into my email that is down below.

[00:24:35]So again, subscribe. It's free. I put out an update like once a month only when there's something worth writing about. So sign up if you want the updates.

[00:24:50]Now, something else that I wanted to hit on today was this chart here.

[00:24:59]Again, I think the noise here is Bitcoin's pulled back $10,000, 13%.

[00:25:05]The signal here is we now have an official race when it comes to nation states accumulating Bitcoin and strategic Bitcoin reserves. Iran's just thrown their hand in the gauntlet. Another deep dive video that I have coming out on this topic will actually be released on Monday.

[00:25:30]So, make sure you subscribe for that one. I filmed it. It's bullish. That's what I can tell you about it right now.

[00:25:36]But if you got a country with 85 million people demanding to get paid $2 million of Bitcoin for every ship that goes through the straight of Hormuz, it's big. It not only changes the financial system, but it changes everything.

[00:25:51]And you're going to see continued reactions from nation states like America and like China who cannot let a country like Iran have more Bitcoin than them. It's as simple as that. They're going to continue to come. They're going to continue freezing Bitcoin, stealing Bitcoin.

[00:26:16]Again, this is why I always encourage you to self-custody your Bitcoin.

[00:26:22]Very, very important.

[00:26:28]If you don't hold the keys, you don't hold the cheese. Again, if you do want to get your hands on a super simple, easy to use hardware wallet, if the idea of seed phrases confuses you and scares you, have a solution for that problem.

[00:26:46]Bit Key has created the simplest, easiest to use multi-seek hardware wallet. If you use promo code Luke, you can get 10% off one of those. And while you're buying a hardware wallet, make sure you pair it with a backup that's going to protect your Bitcoin. 12 or 24 words.

[00:27:10]And paper will not do that. Do you know how many people I know that have their Bitcoin stored on one of these? Ignore my pretty little illustration. You guys can see this is a there's a reason I'm talking to a camera, not drawing for a camera. But so many people have their 12 or 24 words on paper. Paper's flimsy. Paper rips. Paper is not something that will store your generational wealth forever. This is why I always encourage you reach out to Stamp Seed.

[00:27:44]They create these super easy to use titanium plates.

[00:27:50]You can literally get a full stamping kit with everything you need to secure as many Bitcoin backup phrases forever for 220 big ones. And if you use promo code Luke15, that'll actually bring the price of the entire kit under $200. It's an absolute no-brainer.

[00:28:13]Again, we always talk about how valuable Bitcoin will be in the future, but if you don't have it stored correctly, you will not be able to enjoy the fruit of your Bitcoin.

[00:28:24]And you know what? While we're talking about self-custody, if you do need help improving your Bitcoin self-custody game, reach out to my friends at the Bitcoin way.

[00:28:36]They can help you with anything you need help with. Whether that's taking Bitcoin off an exchange, whether that's cleaning up your personal cyber security, or whether that might be getting a plan B residency or passport in a different country, highly recommend you book a call with my friends from the Bitcoin way. You can book a free 30-inut consultation with the link down below.

[00:29:03]And again, if you are someone watching this from a western country, you should think about plan B's. Again, this isn't this channel. I don't partner with, you know, a random VPN or a sock company or recommend products that I don't personally use. All of the companies I talk about on here, they're companies I use myself. I went to, let me hide something for you. I went to painful levels of detail to go and get this.

[00:29:33]This is my Paraguay residency. You might be able to see a few of my ID cards and my tax cards there.

[00:29:42]I have residencies in multiple countries because I do not trust the Australian government. They are going to come with 30% unrealized capital gains taxes, 50% unrealized capital gains taxes, and eventually even higher.

[00:29:57]If you're in Canada, Australia, New Zealand, all of Europe, consider your escape plans because you're going to need one.

[00:30:13]Oh no, we got people in the chat who are short Bitcoin. Be very careful out there.

[00:30:20]Again, we actually saw one of the biggest counter indicators flash this week is with the price of Bitcoin. Even Robin Hood reports, people are starting to get unnerved by how closely aligned this stock is with the price of Bitcoin.

[00:30:35]Even if today's dramatic rebound, Bitcoin still feels like it's lost its luster. The precipitous decline of the cryptocurrency occurring at the same time as a weakening dollar calls into question whether it's a real storehold of value or even a hedge against inflation. We know nothing. We we we this vol thing used we used to think it could be a currency. That's not obviously not going to happen. It's a great speculative asset I guess until it started plummeting. So Robin Hood may be the repository of something that's become toxic and I think a lot less defendable.

[00:31:06]So if Jim Kramer is bearish on Bitcoin, you know what that means? Back up the freaking truck.

[00:31:14]Because how often has this guy been right? Never.

[00:31:19]I don't know about you guys, but if you're looking for a counter indicator, there it is.

[00:31:28]Pumba, love that name.

[00:31:32]Pumba says, "You absolutely need an escape plan." You know what? I got another update. We've been covering this since January, since this trend started.

[00:31:42]I said, "Look out. It's going to accelerate." France leads the global surge in violent attacks on crypto holders. One country in France now accounts for 70% of all of the physical attacks in the world on people holding Bitcoin. You absolutely need a plan B.

[00:32:07]Look at this. France has reported over 40 cryptocurrency kidnappings this year.

[00:32:18]Please guys, like I said, only I only partner with companies who have products that I use myself. You need to protect yourself. If you're anywhere in Europe, look at what is happening in France.

[00:32:34]This will accelerate. We will see more of this.

[00:32:39]How can you protect yourself? Multi- signature Bitcoin wallets, timelocked Bitcoin wallets. You can create both of those in minutes with the easy, simple to use application that BitVault has put together. As the name implies, it's like a vault for your Bitcoin. It protects you against phys physical attacks, hacks, and again, time locked Bitcoin wallets. If you have a wallet that has Bitcoin in it and it's locked for 10 years, it is locked for 10 years.

[00:33:12]There's no amount of wrenches that can unlock that Bitcoin wallet.

[00:33:19]You can get 10% off any subscription plan you want to get from Bit Vault with the link down below in the description.

[00:33:26]And Incognito absolutely nails the reason for why we're seeing all of these attacks in France. We covered this in a video, but for those who didn't know, the government some well some people classify people working as tax accountants as you know a government employee. But a tax accountant working for the government telling the government how much Bitcoin you own, they sold all of the information, names, addresses, amount of Bitcoin held per person. They sold they sold all of that data to criminal networks for $800 a pop.

[00:34:09]It is crazy Apologies if you're watching this one with the kids.

[00:34:19]I might do a deep dive video on all of the Bitcoin wallets. All of them have trade-offs. Every single one of them, they all serve a good use case.

[00:34:31]Cold cards are great for advanced users.

[00:34:34]Ledgers and Treasures are good for like intermediate users. I've got a bit box.

[00:34:39]Bit boxes are great. They're a great Bitcoin only option.

[00:34:44]Bit key is a great option for anyone who's scared of seed phrases.

[00:34:49]It's also the quickest to set up and it's super clean.

[00:34:55]Like there are a ton of great options.

[00:34:57]Any hardware wallet is better than zero hardware wallets because the biggest problem in Bitcoin right now is this comment left in the chat. Somewhere around 2.4 to 2.7 million Bitcoin is still on exchanges.

[00:35:15]10% of the Bitcoin network right now is trusting Brian Armstrong, a man who refused to say the word Bitcoin for seven years while building a crypto casino, and CZ over there at Binance.

[00:35:33]Never met either of them. Could be great people, but do you really want to trust them with your generational wealth? The whole idea is Bitcoin is you hold it yourself.

[00:35:46]and any hardware wallet will be able to help you. I've personally actually never used Tangum. So, I don't I I'll never recommend something I've never personally used. I've used Bit Boxes, Cold Cards, Ledgers, Treasures, and Bit Keys. They're all great wallets.

[00:36:10]More people think we're going to $60,000. We could get to one bitcoin.

[00:36:22]Holding one bitcoin makes you more rare than being a millionaire. And again, what's super interesting about this, and this gets missed in the maths as well, a lot of people say, okay, 50 million millionaires, you hold one bitcoin, you're one in 21 million. But what gets missed is like I last time I checked I was doing a research for a video for this, but I think something like 60 to 70% of the millionaires in the world, they're not liquid millionaires.

[00:36:52]They've got hundreds of thousands of dollars of debt and they've got a million dollar net worth. They've got a million dollars of assets because they own own a home, but that home is not liquid. They don't have a million dollars of equity. They might have a an asset worth a million dollars, but they've got a liability, a chain, a 30-year chain called a mortgage could be 600,000, 700,000, 800,000.

[00:37:20]So again, if holding a one Bitcoin liquid, incredibly valuable. I don't want to go off on a crazy tangent.

[00:37:32]Incognito Before I show you the last thing I wanted to show you, I wanted to give you a quick update or a little bit of a service announcement. If anyone was looking for a full-time job in Bitcoin, message me on Twitter. I'm looking for somebody to join my in-person team. So, if you're a psychopath, if you like working seven days a week, reach out to me. I'm looking to hire someone.

[00:38:05]Send me a quick 60-second introduction video on Twitter. Maybe keep your shirt on. Just a just a normal job interview video for those who might have misinterpreted that. Explaining why you want the job, why you think you'd be good at the job.

[00:38:23]Again, no prior experience is needed except for the willingness to work seven days a week because I'm a psychopath. I don't do weekends. So, let me have a look at the I uh couple of comments here. Apologies if I was late. I don't know if you guys can hear it in the background, but I got a screaming baby boy.

[00:38:56]I hope you guys couldn't hear that.

[00:39:12]Tell you what I need more than a hair stylist. Guys, what I want you to take away from this is do not be scared of a 12% Bitcoin dip. Yeah, we went from 83 to 73 pretty quickly.

[00:39:24]Could we go lower? Yes. Would it be an incredible buying opportunity? Yes.

[00:39:29]Should you be waiting for lower prices with a lot of cash on the sidelines?

[00:39:34]Probably not. Again, big picture here.

[00:39:38]Bitcoin was $126,000 in October. Whether you're buying at 70 or 60 or 80, not a big difference. Buy something on a discount. Well, I said guys, I'm going to end this one here. Thank you so much to everyone who tuned in.

[00:39:55]I'm