1 00:00:04,560 --> 00:00:07,176 Welcome to the Bitcoin 2 00:00:07,288 --> 00:00:10,840 strategies for using bitcoin 3 00:00:10,960 --> 00:00:13,736 I'm your host, Josh Friedman, 4 00:00:13,768 --> 00:00:16,744 to the show, you will 5 00:00:16,872 --> 00:00:19,832 We changed the podcast name 6 00:00:19,936 --> 00:00:23,416 The primary reason for this is 7 00:00:23,448 --> 00:00:26,792 to the show and friends of 8 00:00:26,816 --> 00:00:28,168 word bitcoinization. 9 00:00:28,264 --> 00:00:30,792 And I knew that if bitcoiners 10 00:00:30,816 --> 00:00:34,068 a long time were not able to 11 00:00:34,124 --> 00:00:37,444 other people who are not yet 12 00:00:37,492 --> 00:00:40,452 in understanding and exploring 13 00:00:40,476 --> 00:00:43,444 be even less likely to 14 00:00:43,532 --> 00:00:46,308 So instead of trying to be 15 00:00:46,364 --> 00:00:49,892 bitcoinization, which of 16 00:00:50,036 --> 00:00:52,260 I've decided to go with the 17 00:00:52,340 --> 00:00:55,252 Hopefully this will be a lot 18 00:00:55,316 --> 00:00:57,732 person and hopefully more 19 00:00:57,756 --> 00:01:00,788 see the opportunity for using 20 00:01:00,924 --> 00:01:04,868 Practically speaking, this 21 00:01:05,004 --> 00:01:09,972 However, it worked out that 22 00:01:09,996 --> 00:01:13,508 coincide with a new type of 23 00:01:13,564 --> 00:01:15,172 every couple of weeks. 24 00:01:15,276 --> 00:01:17,924 What I'll be doing every 25 00:01:17,932 --> 00:01:21,028 couple of other people and 26 00:01:21,044 --> 00:01:24,948 that have happened in and 27 00:01:25,004 --> 00:01:25,460 business. 28 00:01:25,580 --> 00:01:28,628 I'll be interested to hear 29 00:01:28,644 --> 00:01:32,776 of format, but I think it will 30 00:01:32,868 --> 00:01:38,112 and an opportunity to have a 31 00:01:38,176 --> 00:01:40,208 topics discussed on the show. 32 00:01:40,264 --> 00:01:44,576 So today, John Gordon and Trey 33 00:01:44,608 --> 00:01:47,248 on this podcast multiple 34 00:01:47,304 --> 00:01:50,320 They'll introduce themselves a 35 00:01:50,400 --> 00:01:53,340 and we're going to get to that 36 00:02:10,603 --> 00:02:15,491 All right, guys, welcome to 37 00:02:15,587 --> 00:02:18,307 a roundup episode of things 38 00:02:18,355 --> 00:02:21,743 to the world of bitcoin and 39 00:02:21,863 --> 00:02:23,103 Trey Sellers is here. 40 00:02:23,143 --> 00:02:24,207 John Gordon as well. 41 00:02:24,295 --> 00:02:26,671 Listeners to the podcast will 42 00:02:26,727 --> 00:02:30,271 episodes, but in case you 43 00:02:30,287 --> 00:02:31,279 going to have them introduce themselves. 44 00:02:31,311 --> 00:02:32,047 So, Trey, if you would. 45 00:02:32,055 --> 00:02:34,751 And then, John, can you share 46 00:02:34,767 --> 00:02:36,639 involved with, what you're 47 00:02:36,791 --> 00:02:37,679 Yeah, thanks. 48 00:02:37,791 --> 00:02:41,407 I'm excited for, for this new 49 00:02:41,455 --> 00:02:44,207 more into bitcoin what's going 50 00:02:44,375 --> 00:02:46,723 I'm VP of Sales at Unchained. 51 00:02:47,143 --> 00:02:52,419 We provide Bitcoin native 52 00:02:52,451 --> 00:02:55,107 on collaborative custody as 53 00:02:55,155 --> 00:02:58,291 of everything that we do and 54 00:02:58,347 --> 00:02:59,363 that are built around that. 55 00:02:59,403 --> 00:02:59,651 Right. 56 00:02:59,707 --> 00:03:01,747 So you can buy and sell 57 00:03:01,835 --> 00:03:03,875 We do commercial Bitcoin 58 00:03:04,019 --> 00:03:06,387 We have IRAs for individuals 59 00:03:06,475 --> 00:03:09,747 We'll be rolling out a whole 60 00:03:09,835 --> 00:03:13,795 services that kind of bridge 61 00:03:13,859 --> 00:03:18,061 as we make this progression 62 00:03:18,117 --> 00:03:18,909 bitcoinization. 63 00:03:19,021 --> 00:03:20,221 Yeah, excited to be here. 64 00:03:20,277 --> 00:03:21,357 Thanks for having me Josh. 65 00:03:21,405 --> 00:03:23,293 And thrilled to be joining you 66 00:03:23,333 --> 00:03:24,141 Trey. 67 00:03:24,317 --> 00:03:27,901 I've been a happy on chain 68 00:03:27,917 --> 00:03:31,357 off some of my clients to you 69 00:03:31,405 --> 00:03:35,421 And my background is in the 70 00:03:35,437 --> 00:03:38,845 of Satoshi Health Advisors, a 71 00:03:38,869 --> 00:03:42,949 helping companies integrate a 72 00:03:43,101 --> 00:03:45,525 particularly in the healthcare industry. 73 00:03:45,629 --> 00:03:49,621 Working a lot with doctors, 74 00:03:49,717 --> 00:03:55,765 and others to understand 75 00:03:55,909 --> 00:04:01,077 treasury and then marketing, 76 00:04:01,205 --> 00:04:04,645 to to build their business and 77 00:04:04,669 --> 00:04:09,319 Bitcoin can have across 78 00:04:09,351 --> 00:04:11,143 value now to medium of exchange. 79 00:04:11,223 --> 00:04:14,615 And eventually I think we'll 80 00:04:14,639 --> 00:04:17,383 now while we're in that in 81 00:04:17,423 --> 00:04:21,959 adopted it really introduces a 82 00:04:22,031 --> 00:04:26,535 also greenfield approach to 83 00:04:26,559 --> 00:04:28,775 money of Bitcoin into businesses. 84 00:04:28,919 --> 00:04:32,423 Particularly in an industry 85 00:04:32,463 --> 00:04:36,673 slow to move yet has 86 00:04:36,713 --> 00:04:37,009 year. 87 00:04:37,081 --> 00:04:40,017 I'm going to like immediately 88 00:04:40,105 --> 00:04:42,785 John just said something that 89 00:04:42,809 --> 00:04:48,129 last like week or so which is 90 00:04:48,201 --> 00:04:51,809 actually precedes meeting 91 00:04:51,841 --> 00:04:55,729 It's almost like this, this 92 00:04:55,801 --> 00:04:58,785 where people start to 93 00:04:58,809 --> 00:05:00,849 opportunity cost to not 94 00:05:00,881 --> 00:05:03,393 Whether you're an individual 95 00:05:03,433 --> 00:05:07,773 opportunity cost for not 96 00:05:07,813 --> 00:05:08,573 recognize that. 97 00:05:08,613 --> 00:05:12,877 We all see that which is why 98 00:05:12,925 --> 00:05:16,313 Bitcoin in payment for goods 99 00:05:16,853 --> 00:05:21,293 And so I think like as 100 00:05:21,333 --> 00:05:25,421 opportunity cost in their own 101 00:05:25,477 --> 00:05:29,725 terms of a unit of account 102 00:05:29,749 --> 00:05:33,725 would be able to stack or how 103 00:05:33,789 --> 00:05:36,061 not actually holding as much 104 00:05:36,197 --> 00:05:42,173 And that can lead to asking 105 00:05:42,253 --> 00:05:48,701 to pay them in Bitcoin, which 106 00:05:48,797 --> 00:05:51,869 way of acquiring Bitcoin and 107 00:05:51,901 --> 00:05:52,205 sheet. 108 00:05:52,269 --> 00:05:54,813 And now once you start 109 00:05:54,933 --> 00:05:58,605 that really is a unit of 110 00:05:58,629 --> 00:06:01,005 a forcing function for that 111 00:06:01,069 --> 00:06:03,431 So I don't know if you guys 112 00:06:03,597 --> 00:06:05,623 sorry, sorry to derail the conversation. 113 00:06:06,043 --> 00:06:07,187 Three minutes in, right? 114 00:06:07,275 --> 00:06:11,107 No, so I think, I think that 115 00:06:11,195 --> 00:06:12,419 what am I missing out on? 116 00:06:12,491 --> 00:06:14,915 And they start to take things 117 00:06:14,939 --> 00:06:15,491 bitcoin. 118 00:06:15,587 --> 00:06:18,675 All three of us have had that 119 00:06:18,779 --> 00:06:22,307 I'm probably the last one to 120 00:06:22,475 --> 00:06:24,691 But you know, I think there 121 00:06:24,747 --> 00:06:28,931 And John, if you want to 122 00:06:28,987 --> 00:06:30,483 the way as well, that would be great. 123 00:06:30,603 --> 00:06:34,515 But a couple of things that I 124 00:06:34,579 --> 00:06:37,759 and help people to see that 125 00:06:37,791 --> 00:06:41,631 if they don't go ahead and 126 00:06:41,647 --> 00:06:42,543 bitcoin reserve. 127 00:06:42,623 --> 00:06:45,135 I don't know if you guys have 128 00:06:45,159 --> 00:06:46,959 I feel like it's been kind of 129 00:06:47,031 --> 00:06:50,927 But I think it'd be important 130 00:06:50,975 --> 00:06:54,543 thoughts, maybe some 131 00:06:54,583 --> 00:06:58,683 it as well as what you might 132 00:06:58,983 --> 00:07:01,603 You may or may not want them 133 00:07:02,123 --> 00:07:04,387 Different bitcoiners had 134 00:07:04,475 --> 00:07:06,835 But I think talking, you know, 135 00:07:06,859 --> 00:07:10,595 the strategic bitcoin reserve 136 00:07:10,619 --> 00:07:15,747 recent proposal for bit bonds 137 00:07:15,835 --> 00:07:16,403 Institute. 138 00:07:16,483 --> 00:07:20,419 So I'm just going to open that 139 00:07:20,451 --> 00:07:20,691 are. 140 00:07:20,747 --> 00:07:26,243 Just real quick for the bit 141 00:07:26,283 --> 00:07:28,307 listening haven't had a chance 142 00:07:28,435 --> 00:07:32,905 The idea is that there would 143 00:07:32,969 --> 00:07:39,273 dollars maybe of bonds would 144 00:07:39,313 --> 00:07:40,653 to purchase bitcoin. 145 00:07:40,993 --> 00:07:47,945 And I think it would be a 4.5% 146 00:07:47,969 --> 00:07:51,721 remaining upside of whatever 147 00:07:51,777 --> 00:07:55,017 And this would be something 148 00:07:55,145 --> 00:07:56,809 hopefully to US citizens. 149 00:07:56,841 --> 00:08:00,585 It would give them some 150 00:08:00,649 --> 00:08:03,453 to the same degree as if 151 00:08:03,553 --> 00:08:06,837 might lead people to think, 152 00:08:06,845 --> 00:08:08,661 buy bitcoin and get a ton of upside? 153 00:08:08,757 --> 00:08:11,093 So those are a couple of 154 00:08:11,133 --> 00:08:13,989 interesting to talk about just 155 00:08:14,101 --> 00:08:15,793 Yeah, I can jump in. 156 00:08:16,253 --> 00:08:20,613 I think is incredibly exciting 157 00:08:20,693 --> 00:08:25,669 executive order in the United 158 00:08:25,741 --> 00:08:30,323 for a lot of businesses and 159 00:08:30,363 --> 00:08:31,811 their own bitcoin strategy. 160 00:08:31,907 --> 00:08:35,459 Now we thought that and for 161 00:08:35,491 --> 00:08:37,411 was that governments were 162 00:08:37,507 --> 00:08:42,099 And clearly now the pendulum 163 00:08:42,131 --> 00:08:45,011 are potentially going to be in 164 00:08:45,067 --> 00:08:47,491 And we know there's only going 165 00:08:47,587 --> 00:08:51,203 We know the US right now is 166 00:08:51,243 --> 00:08:54,291 but has a waning control over 167 00:08:54,387 --> 00:08:58,944 And so as a way to address the 168 00:08:58,968 --> 00:09:00,256 bitbonds is a great idea. 169 00:09:00,304 --> 00:09:03,616 And buying bitcoin as a 170 00:09:03,664 --> 00:09:07,008 around moving seized bitcoin 171 00:09:07,040 --> 00:09:10,400 And I think some of the exact 172 00:09:10,496 --> 00:09:11,712 remains to be seen. 173 00:09:11,832 --> 00:09:15,952 But I think the movements in 174 00:09:15,992 --> 00:09:22,012 stone and have a lot of 175 00:09:22,392 --> 00:09:24,592 how can we hold bitcoin in a 176 00:09:24,632 --> 00:09:25,824 What does multisig look like? 177 00:09:25,848 --> 00:09:29,568 I mean, this introduces a 178 00:09:29,600 --> 00:09:30,468 perspective. 179 00:09:30,640 --> 00:09:33,757 But it's incredibly exciting 180 00:09:33,845 --> 00:09:38,493 I'm here in Costa Rica and I 181 00:09:38,533 --> 00:09:42,109 I was there at the end of 2021 182 00:09:42,301 --> 00:09:45,005 we thought it would be maybe 183 00:09:45,029 --> 00:09:49,005 move quickly and start 184 00:09:49,029 --> 00:09:51,965 their treasury and their 185 00:09:51,989 --> 00:09:53,229 using their own resources. 186 00:09:53,341 --> 00:09:56,573 And while we've seen that to 187 00:09:56,613 --> 00:09:59,373 move by the US it just shows 188 00:09:59,413 --> 00:10:00,717 and others are going to have 189 00:10:00,805 --> 00:10:02,697 This is really the game, the 190 00:10:02,785 --> 00:10:06,169 And so I think individuals and 191 00:10:06,201 --> 00:10:09,273 and move even quicker than 192 00:10:09,313 --> 00:10:14,249 But the fact of the simple, as 193 00:10:14,401 --> 00:10:19,849 really innovative models such 194 00:10:19,881 --> 00:10:24,457 opportunity for policymakers 195 00:10:24,505 --> 00:10:28,649 and then make it a much more 196 00:10:28,681 --> 00:10:29,129 to adopt. 197 00:10:29,161 --> 00:10:31,721 And I think we've swung from, 198 00:10:31,737 --> 00:10:34,757 bitcoin as a business to the 199 00:10:34,805 --> 00:10:35,877 you're going to be left behind. 200 00:10:35,965 --> 00:10:38,661 And we have the big boys doing 201 00:10:38,757 --> 00:10:41,637 And now, you know, each 202 00:10:41,645 --> 00:10:42,629 choice for themselves. 203 00:10:42,741 --> 00:10:43,493 Yeah, clearly. 204 00:10:43,573 --> 00:10:49,553 I think the strategic Bitcoin 205 00:10:50,173 --> 00:10:53,125 I actually don't really care, 206 00:10:53,149 --> 00:10:56,565 the government holds Bitcoin 207 00:10:56,589 --> 00:10:59,575 from a game theory 208 00:10:59,669 --> 00:11:01,187 you need to be holding Bitcoin. 209 00:11:01,235 --> 00:11:04,787 And so for, if we realize that 210 00:11:04,835 --> 00:11:08,643 that that is not limited to 211 00:11:08,683 --> 00:11:12,963 going to bleed into 212 00:11:13,003 --> 00:11:13,811 and that kind of thing. 213 00:11:13,867 --> 00:11:17,731 So it makes sense that they 214 00:11:17,787 --> 00:11:19,463 something like the bit bonds. 215 00:11:19,883 --> 00:11:25,331 I think there's not really a 216 00:11:25,387 --> 00:11:30,275 details of what was being 217 00:11:30,339 --> 00:11:30,943 there. 218 00:11:31,353 --> 00:11:36,529 The idea is though, that you 219 00:11:36,601 --> 00:11:41,213 always needs to raise money 220 00:11:41,753 --> 00:11:46,001 take some portion of that, 221 00:11:46,057 --> 00:11:50,865 thereby provide upside to the 222 00:11:50,889 --> 00:11:55,009 price appreciation that we all 223 00:11:55,081 --> 00:11:59,803 these treasury bonds, thereby 224 00:11:59,843 --> 00:12:03,915 lower the interest rate on a 225 00:12:04,019 --> 00:12:09,499 And by doing so it allows for 226 00:12:09,531 --> 00:12:12,843 us to slow the bleed 227 00:12:12,883 --> 00:12:17,675 amount of debt that's being 228 00:12:17,859 --> 00:12:24,453 that is kind of sucking up all 229 00:12:24,493 --> 00:12:26,069 from tax revenue and that kind 230 00:12:26,141 --> 00:12:26,373 Right. 231 00:12:26,413 --> 00:12:30,949 The budget is just kind of 232 00:12:31,061 --> 00:12:33,893 as rates have risen over the 233 00:12:34,013 --> 00:12:37,205 And so somehow that needs to 234 00:12:37,229 --> 00:12:37,953 of control. 235 00:12:38,733 --> 00:12:44,725 And so this is a way to really 236 00:12:44,789 --> 00:12:48,765 for what needs to be adopted 237 00:12:48,789 --> 00:12:51,853 us a mechanism to lower 238 00:12:51,893 --> 00:12:53,053 the private economy by the way. 239 00:12:53,093 --> 00:12:53,293 Right. 240 00:12:53,333 --> 00:12:54,573 Like a lower. 241 00:12:54,733 --> 00:12:59,517 So many things in the private 242 00:12:59,565 --> 00:12:59,965 yields. 243 00:13:00,029 --> 00:13:04,365 And so if you're able to lower 244 00:13:04,509 --> 00:13:09,245 it's going to allow for 245 00:13:09,389 --> 00:13:14,465 around the country, it's going 246 00:13:14,589 --> 00:13:18,297 for all kinds of debt that's 247 00:13:18,305 --> 00:13:22,169 of a tailwind to the global 248 00:13:22,241 --> 00:13:22,569 right. 249 00:13:22,641 --> 00:13:25,945 So there's all kinds of 250 00:13:25,969 --> 00:13:26,681 into there. 251 00:13:26,737 --> 00:13:29,673 We don't need to go into the 252 00:13:29,713 --> 00:13:32,585 1% or are they going to buy 253 00:13:32,689 --> 00:13:33,513 That doesn't really matter. 254 00:13:33,553 --> 00:13:37,385 I feel like that'll all be 255 00:13:37,449 --> 00:13:38,373 come to market. 256 00:13:38,673 --> 00:13:41,705 And then the last thing to say 257 00:13:41,729 --> 00:13:45,477 is this is the time to do it. 258 00:13:45,645 --> 00:13:47,445 All the tailwinds are behind it. 259 00:13:47,549 --> 00:13:53,621 This administration is very 260 00:13:53,677 --> 00:13:54,341 like that. 261 00:13:54,477 --> 00:13:57,717 I don't think you're going to 262 00:13:57,765 --> 00:14:00,629 soon if it's not from this administration. 263 00:14:00,821 --> 00:14:04,833 So if not now, it's going to 264 00:16:11,867 --> 00:16:15,251 Well, the last time I saw both 265 00:16:15,299 --> 00:16:15,971 in Nashville. 266 00:16:16,019 --> 00:16:18,771 Trey, one of the things you 267 00:16:18,779 --> 00:16:23,775 were looking forward to 268 00:16:23,831 --> 00:16:26,079 year or two and you had a 269 00:16:26,103 --> 00:16:26,239 about. 270 00:16:26,263 --> 00:16:29,055 So maybe if you could bring up 271 00:16:29,111 --> 00:16:30,543 those a little bit today as well. 272 00:16:30,615 --> 00:16:35,311 Yeah, well, the first, I think 273 00:16:35,399 --> 00:16:41,027 allows for banks to custody 274 00:16:41,447 --> 00:16:48,171 The banks will be coming over 275 00:16:48,259 --> 00:16:48,603 Right. 276 00:16:48,675 --> 00:16:53,803 So Unchained has for a very 277 00:16:53,995 --> 00:16:58,347 We focus on commercial bitcoin 278 00:16:58,467 --> 00:17:01,451 And so, you know, we're 279 00:17:01,499 --> 00:17:04,907 who have that bitcoin on their 280 00:17:04,987 --> 00:17:07,487 or other business related purchases. 281 00:17:07,987 --> 00:17:11,915 But there's a much broader 282 00:17:11,971 --> 00:17:15,833 to liquidity across the 283 00:17:15,865 --> 00:17:18,745 or businesses or larger 284 00:17:18,801 --> 00:17:19,209 Right. 285 00:17:19,313 --> 00:17:24,057 And so as the banks who have 286 00:17:24,097 --> 00:17:28,537 part of this whole process 287 00:17:28,657 --> 00:17:31,113 it's going to force down 288 00:17:31,185 --> 00:17:36,201 a lot more interesting Access 289 00:17:36,329 --> 00:17:40,121 And when you have credit 290 00:17:40,129 --> 00:17:43,561 creates a flywheel effect in 291 00:17:43,609 --> 00:17:44,739 as collateral. 292 00:17:44,913 --> 00:17:50,591 As banks value it more highly, 293 00:17:50,639 --> 00:17:55,987 to allow for higher loan to 294 00:17:56,647 --> 00:17:59,199 you know, margin call type situations. 295 00:17:59,343 --> 00:18:02,431 It's just going to be 296 00:18:02,519 --> 00:18:07,503 I mean even now, like you 297 00:18:07,575 --> 00:18:07,903 banks. 298 00:18:07,935 --> 00:18:12,681 Could you go in, walk in the 299 00:18:12,729 --> 00:18:16,249 allocated and I need to get a 300 00:18:16,273 --> 00:18:16,777 to buy. 301 00:18:16,897 --> 00:18:18,729 And they're like, okay, show 302 00:18:18,793 --> 00:18:20,393 Well, it's 100% Bitcoin. 303 00:18:20,505 --> 00:18:22,185 We value that as zero. 304 00:18:22,321 --> 00:18:22,665 Right? 305 00:18:22,721 --> 00:18:26,793 Like that's been the 306 00:18:26,825 --> 00:18:30,345 got a large amount of money in 307 00:18:30,441 --> 00:18:33,753 They go and try to get like 308 00:18:33,785 --> 00:18:34,953 recognize that asset. 309 00:18:34,985 --> 00:18:36,665 Well, that is definitely changing. 310 00:18:36,761 --> 00:18:40,675 And so we're going to start to 311 00:18:40,731 --> 00:18:42,499 rates in terms of bitcoin 312 00:18:42,563 --> 00:18:47,203 But also just like the flavor 313 00:18:47,275 --> 00:18:50,243 that are out there coming from 314 00:18:50,315 --> 00:18:54,083 institutions, maybe coming 315 00:18:54,155 --> 00:18:54,927 as well. 316 00:18:55,547 --> 00:19:01,859 There's so many businesses out 317 00:19:02,003 --> 00:19:03,459 as part of their flows. 318 00:19:03,523 --> 00:19:07,507 And if bitcoin is able to seep 319 00:19:07,547 --> 00:19:14,269 to solidify it as this 320 00:19:14,413 --> 00:19:18,893 more deeply into the financial 321 00:19:19,005 --> 00:19:21,837 from the point of view of 322 00:19:21,877 --> 00:19:27,597 so much power and so much 323 00:19:27,677 --> 00:19:31,037 the outcomes of not only the 324 00:19:31,157 --> 00:19:32,765 front and that kind of thing. 325 00:19:32,821 --> 00:19:36,045 Is it in any way intimidating 326 00:19:36,101 --> 00:19:39,453 from an unchained perspective 327 00:19:39,525 --> 00:19:42,333 built that, that niche in the 328 00:19:42,365 --> 00:19:44,397 be and where you can continue 329 00:19:44,517 --> 00:19:46,217 I think we're pretty safe for now. 330 00:19:46,597 --> 00:19:49,197 I think it's going to take a 331 00:19:49,237 --> 00:19:49,901 They're very slow. 332 00:19:49,949 --> 00:19:53,997 I used to work for a bank for 333 00:19:54,037 --> 00:19:55,325 so I know how they operate. 334 00:19:55,421 --> 00:19:58,253 I'm not worried about them 335 00:19:58,325 --> 00:20:04,237 I'm also not really worried 336 00:20:04,317 --> 00:20:08,389 to access these bitcoin 337 00:20:08,453 --> 00:20:10,677 layer that Unchained really 338 00:20:10,717 --> 00:20:10,917 Right. 339 00:20:10,957 --> 00:20:18,037 Like we're providing liquidity 340 00:20:18,077 --> 00:20:21,621 their bitcoin and allowing 341 00:20:21,669 --> 00:20:25,781 custody vault so that they can 342 00:20:25,909 --> 00:20:28,789 is there purely as collateral 343 00:20:28,813 --> 00:20:32,037 commingled or moved or 344 00:20:32,077 --> 00:20:33,781 Like, we don't rehypothecate. 345 00:20:33,829 --> 00:20:37,779 We, you know, the banks don't 346 00:20:37,883 --> 00:20:40,531 They're not going to let you 347 00:20:40,579 --> 00:20:45,843 And so some people don't care 348 00:20:45,875 --> 00:20:49,075 of people and the further and 349 00:20:49,091 --> 00:20:51,411 rabbit hole, the more and more 350 00:20:51,499 --> 00:20:55,523 So I think like the ocean 351 00:20:55,595 --> 00:21:00,835 to grow and thrive in that 352 00:21:00,851 --> 00:21:04,355 unquote competition coming in 353 00:21:04,451 --> 00:21:09,319 And that extra capital 354 00:21:09,343 --> 00:21:14,487 bring down the interest rates 355 00:21:14,567 --> 00:21:18,615 which is going to attract even 356 00:21:18,671 --> 00:21:21,799 who already have a large stack 357 00:21:21,943 --> 00:21:27,767 Yeah, well, at one time on a 358 00:21:27,807 --> 00:21:32,711 co founder of Square, who's 359 00:21:32,719 --> 00:21:36,679 the Innovation Stack and he 360 00:21:36,703 --> 00:21:39,059 to beat Amazon at their own 361 00:21:39,083 --> 00:21:43,395 there, you copy someone's 362 00:21:43,531 --> 00:21:44,867 you basically destroy them. 363 00:21:44,987 --> 00:21:49,427 And he said each time you add 364 00:21:49,467 --> 00:21:53,059 unique thing you bring to the 365 00:21:53,203 --> 00:21:55,363 for competition to beat you out. 366 00:21:55,435 --> 00:21:59,395 And Unchained and so many 367 00:21:59,451 --> 00:22:02,953 been in the space and have 368 00:22:03,075 --> 00:22:04,893 stake out their territory. 369 00:22:04,925 --> 00:22:08,589 And I'm glad to see that 370 00:22:08,613 --> 00:22:12,845 bitcoin first or bitcoin only 371 00:22:12,901 --> 00:22:16,141 or buying my bitcoin through a 372 00:22:16,309 --> 00:22:20,429 Yeah, look, there's going to 373 00:22:20,453 --> 00:22:24,301 the bitcoin world and people 374 00:22:24,349 --> 00:22:26,893 of this growing asset, like 375 00:22:27,045 --> 00:22:30,939 But my view is rising tide 376 00:22:30,963 --> 00:22:34,299 competitive and have a really 377 00:22:34,323 --> 00:22:37,627 approach collaborative 378 00:22:37,667 --> 00:22:38,539 else that we do. 379 00:22:38,643 --> 00:22:40,283 Yeah, I definitely echo that sentiment. 380 00:22:40,315 --> 00:22:42,651 I mean bitcoin is pristine collateral. 381 00:22:42,779 --> 00:22:44,731 So as much as it's being used 382 00:22:44,819 --> 00:22:48,651 And that fact is being 383 00:22:48,699 --> 00:22:49,611 it's perfectly scarce. 384 00:22:49,659 --> 00:22:53,563 We can hold it in different 385 00:22:53,595 --> 00:22:55,899 let us do, but is technically possible. 386 00:22:56,083 --> 00:22:57,435 That's the first mover advantage. 387 00:22:57,451 --> 00:23:00,299 And that's what Unchained has 388 00:23:00,363 --> 00:23:04,527 custody perspective and I 389 00:23:04,567 --> 00:23:08,787 cost of borrowing for 390 00:23:09,207 --> 00:23:12,447 who have new ideas, who want 391 00:23:12,487 --> 00:23:15,023 also want to go and buy a 392 00:23:15,055 --> 00:23:15,359 as well. 393 00:23:15,383 --> 00:23:20,239 And as millennials, it's not 394 00:23:20,263 --> 00:23:27,559 anything, is perfect for that 395 00:23:27,583 --> 00:23:28,855 that home as a starter home. 396 00:23:28,911 --> 00:23:31,015 And now we have more 397 00:23:31,071 --> 00:23:34,667 third, fourth homes, you know, 398 00:23:35,327 --> 00:23:38,103 I think that yeah, more rising 399 00:23:38,135 --> 00:23:40,599 We know the more individuals 400 00:23:40,623 --> 00:23:44,247 bitcoin network benefits all 401 00:23:44,327 --> 00:23:47,063 should bring down costs, 402 00:23:47,095 --> 00:23:49,767 So as you mentioned, both from 403 00:23:49,807 --> 00:23:52,907 that bitcoin recognized when 404 00:23:53,347 --> 00:23:56,731 Businesses also until those 405 00:23:56,779 --> 00:24:00,251 perspective, weren't able to 406 00:24:00,379 --> 00:24:02,699 only to the downside instead 407 00:24:02,763 --> 00:24:06,859 So I think a lot of those 408 00:24:06,963 --> 00:24:11,691 time to impact, but are going 409 00:24:11,859 --> 00:24:13,611 offering more unique offerings. 410 00:24:13,659 --> 00:24:16,347 And I think as Andrew Hones 411 00:24:16,387 --> 00:24:21,917 see with battery finance and 412 00:24:21,957 --> 00:24:24,157 know what holding bitcoin for 413 00:24:24,197 --> 00:24:28,301 And rather than having that 414 00:24:28,429 --> 00:24:30,957 okay, now we introduce bitcoin 415 00:24:31,037 --> 00:24:34,177 So I definitely agree that the 416 00:24:34,757 --> 00:24:35,709 but they're coming. 417 00:24:35,813 --> 00:24:40,845 And so really being able to 418 00:24:40,941 --> 00:24:43,837 and the value of also holding 419 00:24:43,877 --> 00:24:46,237 your journey, I mean, that's 420 00:24:46,277 --> 00:24:49,245 so well and something that 421 00:24:49,301 --> 00:24:53,555 And of course the banks and 422 00:24:53,651 --> 00:24:56,675 like a custodia bank from 423 00:24:56,731 --> 00:24:59,811 it would be, it would be great 424 00:24:59,859 --> 00:25:04,419 as we see fully reserved 425 00:25:04,443 --> 00:25:07,891 are not rehypothecating 426 00:25:07,939 --> 00:25:11,331 money at the bedrock of a lot 427 00:25:11,379 --> 00:25:13,603 of the ever expanding fiat credit. 428 00:25:13,635 --> 00:25:16,211 And it's going to be 429 00:25:16,259 --> 00:25:19,539 as bitcoin continues to be a 430 00:25:19,603 --> 00:25:20,767 taking it on board. 431 00:25:21,077 --> 00:25:24,541 But that's where I think again 432 00:25:24,589 --> 00:25:30,253 can, can still take the lead 433 00:25:30,285 --> 00:25:31,965 that Unchain's had on the 434 00:25:32,021 --> 00:25:36,237 So it would be great to see 435 00:25:36,277 --> 00:25:40,637 put that bitcoin to work in a 436 00:25:40,677 --> 00:25:41,597 through a loan. 437 00:25:41,757 --> 00:25:46,189 Well, the banks are, I mean 438 00:25:46,213 --> 00:25:50,333 of is an oxymoron at this 439 00:25:50,365 --> 00:25:50,669 works. 440 00:25:50,733 --> 00:25:53,277 That kind of like, like kills 441 00:25:53,317 --> 00:25:55,997 So I don't know that we'll see 442 00:25:56,037 --> 00:26:00,317 But like maybe they can shore 443 00:26:00,357 --> 00:26:04,349 bit more by integrating 444 00:26:04,373 --> 00:26:07,517 they do things and maybe 445 00:26:07,597 --> 00:26:10,413 We'll have to see like what 446 00:26:10,445 --> 00:26:13,337 like because that's really 447 00:26:13,717 --> 00:26:18,631 Although you know we see like 448 00:26:18,679 --> 00:26:23,015 brought live their $2 billion 449 00:26:23,071 --> 00:26:23,927 Bitcoin. 450 00:26:24,087 --> 00:26:27,991 I imagine that their first 451 00:26:28,039 --> 00:26:30,439 institutions, maybe the 452 00:26:30,463 --> 00:26:32,027 the public bitcoin miners. 453 00:26:32,367 --> 00:26:35,367 But you know, they are 454 00:26:35,407 --> 00:26:38,599 the traditional finance world, 455 00:26:38,783 --> 00:26:44,253 And so them kind of going out 456 00:26:44,285 --> 00:26:47,805 lending helps to open the door 457 00:26:47,901 --> 00:26:48,525 institutions. 458 00:26:48,621 --> 00:26:52,493 Not to mention the fact that 459 00:26:52,525 --> 00:26:57,149 at Kenner Fitzgerald, is 460 00:26:57,173 --> 00:26:58,717 the Trump administration at 461 00:26:58,757 --> 00:27:00,017 As part of the cabinet. 462 00:27:00,517 --> 00:27:01,597 So that's really interesting. 463 00:27:01,677 --> 00:27:05,789 Another interesting point on 464 00:27:05,813 --> 00:27:06,573 Fold, right. 465 00:27:06,645 --> 00:27:11,239 They have been talking and I 466 00:27:11,303 --> 00:27:15,015 with Fold customers like 467 00:27:15,031 --> 00:27:19,655 to being reliant on a debit 468 00:27:19,791 --> 00:27:22,455 when you are trying to spend 469 00:27:22,551 --> 00:27:24,679 I think this is going to be 470 00:27:24,703 --> 00:27:28,519 excited to get my hands on 471 00:27:28,543 --> 00:27:29,907 around with it a little bit. 472 00:27:30,207 --> 00:27:36,297 And Fold recently went public 473 00:27:36,417 --> 00:27:40,761 is focused on holding 474 00:27:40,849 --> 00:27:42,489 that have bitcoin on their 475 00:27:42,553 --> 00:27:48,197 So we start to see all of 476 00:27:48,497 --> 00:27:53,769 as the bitcoin and traditional 477 00:27:53,833 --> 00:27:54,437 together. 478 00:27:54,737 --> 00:27:55,385 Yep. 479 00:27:55,481 --> 00:28:00,073 And I'm interested to see how 480 00:28:00,145 --> 00:28:03,779 bold bitcoin is another one 481 00:28:03,803 --> 00:28:08,563 beta, but you basically have 482 00:28:08,675 --> 00:28:09,091 against. 483 00:28:09,179 --> 00:28:13,059 And I'm not sure if Fold has 484 00:28:13,083 --> 00:28:13,267 yet. 485 00:28:13,307 --> 00:28:14,611 Have either of you heard that? 486 00:28:14,699 --> 00:28:17,683 I believe it's a similar 487 00:28:17,755 --> 00:28:18,595 on the market now. 488 00:28:18,651 --> 00:28:23,299 Like kind of 2% SATs back on 489 00:28:23,363 --> 00:28:23,747 Pretty much. 490 00:28:23,787 --> 00:28:25,859 Maybe there will be some 491 00:28:25,923 --> 00:28:29,043 like we see in traditional 492 00:28:29,075 --> 00:28:29,887 kind of the. 493 00:28:30,227 --> 00:28:31,643 The essence of it. 494 00:28:31,795 --> 00:28:35,899 Yeah, I need to dig into the 495 00:28:35,963 --> 00:28:36,971 or uncollateralized? 496 00:28:37,019 --> 00:28:38,539 I can't remember. 497 00:28:38,603 --> 00:28:43,099 I feel like I read their 498 00:28:43,123 --> 00:28:45,167 or two ago, but to be honest, 499 00:28:45,507 --> 00:28:46,619 I'll have to dig into that. 500 00:28:46,643 --> 00:28:48,139 We can talk about the next time. 501 00:28:48,243 --> 00:28:50,347 Now, Trey, you may have some 502 00:28:50,387 --> 00:28:52,699 You just mentioned The Canter Fitzgerald. 503 00:28:52,763 --> 00:28:55,435 $2 billion connected to financing. 504 00:28:55,531 --> 00:28:57,789 I don't know exactly what 505 00:28:57,813 --> 00:28:59,697 I'm guessing that's for institutions. 506 00:29:00,277 --> 00:29:01,709 It seems like $2 billion. 507 00:29:01,773 --> 00:29:04,461 It sounds ridiculous to say 508 00:29:04,469 --> 00:29:04,861 the bucket. 509 00:29:04,909 --> 00:29:07,693 But do you know exactly or at 510 00:29:07,725 --> 00:29:08,989 are for that 2 billion? 511 00:29:09,173 --> 00:29:10,013 I don't know. 512 00:29:10,085 --> 00:29:11,661 I don't have inside information. 513 00:29:11,749 --> 00:29:15,709 But my guess is just being 514 00:29:15,733 --> 00:29:19,469 traditional finance world that 515 00:29:19,493 --> 00:29:25,019 of the larger players out 516 00:29:25,043 --> 00:29:28,955 marathons and you know, some 517 00:29:29,011 --> 00:29:32,699 companies that have bitcoin on 518 00:29:32,723 --> 00:29:37,131 are looking to borrow against 519 00:29:37,299 --> 00:29:41,147 I don't know if they're going 520 00:29:41,267 --> 00:29:45,323 role of just like bitcoin back 521 00:29:45,355 --> 00:29:47,835 of bitcoin for any other purposes. 522 00:29:47,931 --> 00:29:51,781 That's where we start to get 523 00:29:51,869 --> 00:29:55,381 caused a lot of angst back in 524 00:29:55,389 --> 00:29:56,657 in that direction or not. 525 00:29:57,197 --> 00:30:02,261 But you know, I feel like when 526 00:30:02,309 --> 00:30:05,093 bitcoin more into their normal 527 00:30:05,125 --> 00:30:07,397 going to be playing around 528 00:30:07,437 --> 00:30:08,597 a lot of people into trouble. 529 00:30:08,677 --> 00:30:12,901 Now they have much deeper 530 00:30:12,949 --> 00:30:14,789 or explicit government backing. 531 00:30:14,933 --> 00:30:17,753 So maybe that changes the game 532 00:30:17,865 --> 00:30:22,537 But in terms of Cantor's, you 533 00:30:22,577 --> 00:30:25,033 billion, I don't have any 534 00:30:25,065 --> 00:30:27,929 it's going to be towards some 535 00:30:27,953 --> 00:30:32,425 who, who need some capital 536 00:30:32,441 --> 00:30:36,313 sheet and they're trying to 537 00:30:36,385 --> 00:30:38,037 that asset that's sitting there. 538 00:30:38,417 --> 00:30:42,825 So John, in our pre recording 539 00:30:42,961 --> 00:30:46,089 Scientific and of course Eric 540 00:30:46,113 --> 00:30:50,571 has just gone you know, all in 541 00:30:50,579 --> 00:30:56,923 of people in the bitcoin 542 00:30:56,995 --> 00:30:57,547 Scientific. 543 00:30:57,627 --> 00:31:02,507 I'm curious if you knew about 544 00:31:02,627 --> 00:31:06,651 they started buying bitcoin, 545 00:31:06,739 --> 00:31:10,699 in the healthcare industry 546 00:31:10,723 --> 00:31:12,491 maybe also connected to that. 547 00:31:12,659 --> 00:31:16,571 From your work with 548 00:31:16,579 --> 00:31:20,919 healthcare space, why do you 549 00:31:21,023 --> 00:31:23,707 or connection to Bitcoin? 550 00:31:24,047 --> 00:31:25,367 Yeah, starting with Semler. 551 00:31:25,447 --> 00:31:26,695 I hadn't heard of them. 552 00:31:26,831 --> 00:31:29,223 They were working in the 553 00:31:29,255 --> 00:31:33,735 But it's a very, there's many, 554 00:31:33,831 --> 00:31:36,183 market that is healthcare, you 555 00:31:36,255 --> 00:31:40,247 I did work at a medical device 556 00:31:40,407 --> 00:31:43,991 which can be some interesting 557 00:31:44,159 --> 00:31:48,135 But you know Semler I think 558 00:31:48,191 --> 00:31:52,387 really showing the playbook 559 00:31:52,427 --> 00:31:58,403 lines of making a splash in as 560 00:31:58,435 --> 00:32:01,155 sheet buy from a corporate 561 00:32:01,171 --> 00:32:05,011 going to see more companies as 562 00:32:05,059 --> 00:32:07,699 launching a way to kind of own 563 00:32:07,803 --> 00:32:10,243 And then from the cancer 564 00:32:10,275 --> 00:32:12,243 get, I could get a loan down 565 00:32:12,395 --> 00:32:16,371 So there's going to be 566 00:32:16,459 --> 00:32:17,763 holding Bitcoin on the balance sheet. 567 00:32:17,795 --> 00:32:22,867 So similar holding 31 over 568 00:32:22,947 --> 00:32:28,399 and over almost $300 million 569 00:32:28,463 --> 00:32:32,399 in the last recording, really 570 00:32:32,423 --> 00:32:35,215 if you are cash flow positive 571 00:32:35,231 --> 00:32:39,199 is, if it's selling medical 572 00:32:39,223 --> 00:32:42,927 have that positive cash flow 573 00:32:42,967 --> 00:32:46,079 business intelligence 574 00:32:46,103 --> 00:32:49,727 of that cash flow, put it into 575 00:32:49,767 --> 00:32:52,625 creative ways to buy bitcoin 576 00:32:52,751 --> 00:32:56,617 credit and equity as well as 577 00:32:56,917 --> 00:33:00,893 I think that they're really 578 00:33:00,925 --> 00:33:01,469 perspective. 579 00:33:01,533 --> 00:33:04,413 You know, I've been really 580 00:33:04,445 --> 00:33:09,965 is ripe for bitcoin to enter 581 00:33:09,981 --> 00:33:14,333 up 20% of the economy, a 582 00:33:14,365 --> 00:33:15,485 and half of that's waste. 583 00:33:15,581 --> 00:33:18,333 The whole industry, whether 584 00:33:18,485 --> 00:33:23,357 big insurance or big pharma or 585 00:33:23,397 --> 00:33:25,437 middlemen along different lines. 586 00:33:25,517 --> 00:33:28,813 Certainly from a payment 587 00:33:28,845 --> 00:33:32,669 medical record perspective, 588 00:33:32,693 --> 00:33:35,661 the money flows, it tends to 589 00:33:35,829 --> 00:33:39,981 And so where I've started and 590 00:33:40,029 --> 00:33:43,069 first is going to be companies 591 00:33:43,093 --> 00:33:46,061 understand bitcoin and can 592 00:33:46,109 --> 00:33:50,381 But even more so from a 593 00:33:50,429 --> 00:33:53,757 who understand bitcoin and 594 00:33:53,797 --> 00:33:56,829 business models that align 595 00:33:56,973 --> 00:34:00,509 So for example, direct primary 596 00:34:00,533 --> 00:34:01,533 a few clients. 597 00:34:01,725 --> 00:34:03,933 A couple of them have been on 598 00:34:03,965 --> 00:34:05,405 into this a little bit further. 599 00:34:05,461 --> 00:34:06,173 But both Dr. 600 00:34:06,205 --> 00:34:10,893 Roger Mosemba in San Antonio, 601 00:34:10,925 --> 00:34:11,181 Dr. 602 00:34:11,229 --> 00:34:16,069 Levitan in Illinois, they're 603 00:34:16,133 --> 00:34:17,573 their concierge model. 604 00:34:17,605 --> 00:34:20,645 And they're not to some 605 00:34:20,701 --> 00:34:23,221 insurance or that's a very 606 00:34:23,229 --> 00:34:23,845 an add on. 607 00:34:23,901 --> 00:34:26,997 But for the most part it's 608 00:34:27,077 --> 00:34:30,069 that are getting, they're 609 00:34:30,093 --> 00:34:33,269 they can say, hey, I can spend 610 00:34:33,293 --> 00:34:35,525 part payment comes from a 611 00:34:35,661 --> 00:34:38,133 And then now I accept that 612 00:34:38,165 --> 00:34:41,787 sheet and it can strengthen my 613 00:34:41,957 --> 00:34:45,375 and ultimately send a signal 614 00:34:45,431 --> 00:34:50,079 be practicing in a different 615 00:34:50,103 --> 00:34:54,575 your health and understanding 616 00:34:54,591 --> 00:34:56,735 cutter approach and really 617 00:34:56,831 --> 00:35:02,067 So I think there's a lot of 618 00:35:03,367 --> 00:35:04,431 healthcare businesses. 619 00:35:04,479 --> 00:35:07,311 But we're not going to see, 620 00:35:07,319 --> 00:35:10,095 lot of cash sitting on balance 621 00:35:10,151 --> 00:35:13,567 out there like the HCAs of the 622 00:35:13,607 --> 00:35:17,311 systems publicly traded that 623 00:35:17,399 --> 00:35:20,271 have pretty complex balance sheets. 624 00:35:20,399 --> 00:35:23,743 They could start with just 625 00:35:23,815 --> 00:35:26,639 You know, that's the first 626 00:35:26,663 --> 00:35:28,627 into their full payment stack. 627 00:35:29,207 --> 00:35:30,415 But it's going to take time. 628 00:35:30,471 --> 00:35:34,143 And you'll also see more 629 00:35:34,175 --> 00:35:38,175 side and health brands and 630 00:35:38,231 --> 00:35:40,367 Tropical Oasis, who you had on 631 00:35:40,407 --> 00:35:45,751 And really diving into how 632 00:35:45,799 --> 00:35:47,591 directly lower their own 633 00:35:47,639 --> 00:35:50,103 So there's a reason for them 634 00:35:50,175 --> 00:35:53,987 perspective, let alone the 635 00:35:54,447 --> 00:35:57,767 But they can also go out and 636 00:35:57,847 --> 00:36:01,591 and hold their bitcoin 637 00:36:01,639 --> 00:36:05,127 Or eventually for maybe you 638 00:36:05,167 --> 00:36:07,815 a collaborative custody model 639 00:36:07,911 --> 00:36:08,119 Right. 640 00:36:08,143 --> 00:36:12,183 And you can really split that 641 00:36:12,215 --> 00:36:12,939 custodian. 642 00:36:13,063 --> 00:36:15,731 But you now have a way to each 643 00:36:15,779 --> 00:36:19,203 So I think we'll where I've 644 00:36:19,235 --> 00:36:22,275 businesses and then from a 645 00:36:22,291 --> 00:36:23,267 have the sellers of the world. 646 00:36:23,307 --> 00:36:26,355 There are so many more 647 00:36:26,411 --> 00:36:28,163 and you see some going in the 648 00:36:28,195 --> 00:36:28,387 Right. 649 00:36:28,427 --> 00:36:32,131 Walgreens is now going back 650 00:36:32,179 --> 00:36:34,211 for years on the public market. 651 00:36:34,299 --> 00:36:38,371 Maybe someone like Walgreens 652 00:36:38,419 --> 00:36:41,299 that shift back as they get 653 00:36:41,323 --> 00:36:44,061 and get bought, but come into 654 00:36:44,099 --> 00:36:44,633 Again. 655 00:36:44,785 --> 00:36:47,785 So as we see these shifts back 656 00:36:47,841 --> 00:36:51,993 markets haven't been kind to 657 00:36:52,065 --> 00:36:55,257 what bitcoin can do and I 658 00:36:55,297 --> 00:36:58,361 Bitcoin and the conferences 659 00:36:58,369 --> 00:37:02,041 last few years has focused so 660 00:37:02,089 --> 00:37:02,681 and energy. 661 00:37:02,769 --> 00:37:07,593 These are of course, the 662 00:37:07,745 --> 00:37:11,593 Health was always coming from 663 00:37:11,625 --> 00:37:14,217 in health economics and 664 00:37:14,257 --> 00:37:17,351 models, an area that I think 665 00:37:17,439 --> 00:37:21,063 And so we're really just at 666 00:37:21,095 --> 00:37:21,431 out. 667 00:37:21,519 --> 00:37:25,335 And so it's always great to 668 00:37:25,431 --> 00:37:27,671 who are looking at introducing 669 00:37:27,719 --> 00:37:30,855 With bitcoin and health, I 670 00:37:30,911 --> 00:37:36,471 Businesses to begin to have a 671 00:37:36,479 --> 00:37:40,519 the balance sheet, there needs 672 00:37:40,623 --> 00:37:48,417 within the like Business 673 00:37:48,537 --> 00:37:54,945 treasurer, CFO type community, 674 00:37:55,001 --> 00:37:59,505 like traditionally speaking, 675 00:37:59,561 --> 00:38:04,785 let's say the balance sheet 676 00:38:04,841 --> 00:38:08,385 that should be producing any 677 00:38:08,441 --> 00:38:08,657 Right. 678 00:38:08,697 --> 00:38:14,517 It should be there as a 679 00:38:14,637 --> 00:38:18,389 business, but it should not be 680 00:38:18,413 --> 00:38:19,217 its own. 681 00:38:19,517 --> 00:38:25,045 And, and that's been kind of 682 00:38:25,101 --> 00:38:28,885 school teaches, you know, how 683 00:38:29,021 --> 00:38:33,605 It certainly is how Wall 684 00:38:33,741 --> 00:38:37,477 companies and their balance 685 00:38:37,517 --> 00:38:39,177 cash flows and all that stuff. 686 00:38:39,917 --> 00:38:45,557 It kind of throws their models 687 00:38:45,597 --> 00:38:49,861 extra variable of a volatile 688 00:38:49,909 --> 00:38:53,957 to shareholders and going to 689 00:38:53,997 --> 00:38:54,709 the business. 690 00:38:54,893 --> 00:39:00,421 And so my personal view is 691 00:39:00,509 --> 00:39:05,957 for people to start to wrap 692 00:39:05,997 --> 00:39:10,199 approach to viewing the 693 00:39:10,223 --> 00:39:14,423 actually help the, the 694 00:39:14,455 --> 00:39:19,543 to just being a facilitation 695 00:39:19,575 --> 00:39:23,527 generating part of the 696 00:39:23,567 --> 00:39:24,787 generate that growth. 697 00:39:26,367 --> 00:39:31,703 We almost like until that time 698 00:39:31,775 --> 00:39:36,311 we need these kind of 699 00:39:36,399 --> 00:39:41,629 Bitcoin to find themselves in 700 00:39:41,653 --> 00:39:48,685 unique scenarios, like a 701 00:39:48,741 --> 00:39:53,133 be a forcing function on this 702 00:39:53,205 --> 00:39:55,933 that this can actually be 703 00:39:56,005 --> 00:39:57,213 We just haven't gotten there yet. 704 00:39:57,285 --> 00:40:04,589 I think we're still a few 705 00:40:04,653 --> 00:40:08,957 progress into Bitcoin, being 706 00:40:08,997 --> 00:40:12,893 returns of, of a stock or a 707 00:40:13,045 --> 00:40:13,613 We'll see. 708 00:40:13,685 --> 00:40:14,509 Maybe I'm wrong on that. 709 00:40:14,533 --> 00:40:14,957 I don't know. 710 00:40:14,997 --> 00:40:15,789 What do you guys think? 711 00:40:15,893 --> 00:40:18,557 If people are paying 712 00:40:18,597 --> 00:40:21,373 it does juice a stock, it does 713 00:40:21,485 --> 00:40:24,205 But it will take a while, I 714 00:40:24,221 --> 00:40:24,445 it. 715 00:40:24,501 --> 00:40:27,133 Fortunately, it doesn't have 716 00:40:27,245 --> 00:40:28,509 We have strategy out there. 717 00:40:28,533 --> 00:40:32,829 We have so many others who are 718 00:40:32,853 --> 00:40:33,341 the market. 719 00:40:33,429 --> 00:40:36,925 And I think it'll be 720 00:40:36,981 --> 00:40:40,093 years that adding Bitcoin to 721 00:40:40,125 --> 00:40:43,353 personal or as a business, is 722 00:40:43,505 --> 00:40:46,073 As expected, we've hardly 723 00:40:46,105 --> 00:40:47,689 we wanted to discuss. 724 00:40:47,873 --> 00:40:51,673 But let's go ahead and maybe 725 00:40:51,745 --> 00:40:53,385 iteration of this series. 726 00:40:53,521 --> 00:40:56,329 Trey, if you would share with 727 00:40:56,353 --> 00:40:57,929 up with you and Unchained. 728 00:40:57,993 --> 00:41:01,369 And then John, if you would 729 00:41:01,553 --> 00:41:06,841 Yeah, probably the easiest way 730 00:41:06,969 --> 00:41:10,399 Go check out Unchained 731 00:41:10,503 --> 00:41:11,167 remember there. 732 00:41:11,207 --> 00:41:16,463 And if you're interested in 733 00:41:16,495 --> 00:41:22,751 in a more fault tolerant way, 734 00:41:22,799 --> 00:41:25,679 clients to really understand 735 00:41:25,703 --> 00:41:26,479 and all of that. 736 00:41:26,583 --> 00:41:30,111 One thing that I forgot to 737 00:41:30,159 --> 00:41:38,617 to my other work, is that I am 738 00:41:38,697 --> 00:41:42,393 that does some investments in 739 00:41:42,585 --> 00:41:47,337 They got a good focus on like 740 00:41:47,457 --> 00:41:51,049 are starting to foray into 741 00:41:51,153 --> 00:41:51,465 So. 742 00:41:51,521 --> 00:41:55,353 So I've been helping them 743 00:41:55,425 --> 00:41:55,897 looks like. 744 00:41:55,937 --> 00:42:00,313 And I also do a newsletter on 745 00:42:00,425 --> 00:42:06,265 So if you're interested in 746 00:42:06,321 --> 00:42:07,465 so go check that out as well. 747 00:42:07,521 --> 00:42:07,833 Awesome. 748 00:42:07,865 --> 00:42:14,249 And yeah, you can follow me on 749 00:42:14,273 --> 00:42:18,345 go to my website satoshi 750 00:42:18,401 --> 00:42:18,997 more. 751 00:42:19,297 --> 00:42:22,393 Really working at the 752 00:42:22,425 --> 00:42:23,357 and healthcare. 753 00:42:23,777 --> 00:42:24,841 So happy to connect. 754 00:42:24,889 --> 00:42:27,833 And you know, I think to your 755 00:42:27,865 --> 00:42:31,141 it here, is that it's 756 00:42:31,189 --> 00:42:32,805 and people in the right places. 757 00:42:32,901 --> 00:42:37,317 And I think it's just some 758 00:42:37,477 --> 00:42:38,757 to make the leap. 759 00:42:38,917 --> 00:42:42,309 And a lot of that comes from 760 00:42:42,333 --> 00:42:47,685 foundational level and how it 761 00:42:47,741 --> 00:42:49,765 sovereignty over your own life 762 00:42:49,821 --> 00:42:52,549 As you said, kind of 763 00:42:52,573 --> 00:42:52,821 teaching. 764 00:42:52,869 --> 00:42:56,527 We have to unlearn a lot of 765 00:42:56,557 --> 00:42:59,819 or in grad school in the way 766 00:42:59,883 --> 00:43:03,499 around finance and understand 767 00:43:03,603 --> 00:43:04,827 principles perspective. 768 00:43:04,907 --> 00:43:08,923 So really excited to be 769 00:43:08,955 --> 00:43:12,251 and we can dive deeper into 770 00:43:12,299 --> 00:43:16,603 help more business owners and 771 00:43:16,635 --> 00:43:18,651 bitcoin to their own day to 772 00:43:18,819 --> 00:43:20,907 Well guys, thank you so much 773 00:43:20,947 --> 00:43:21,403 And your thoughts. 774 00:43:21,435 --> 00:43:22,407 It's been great. 775 00:43:23,187 --> 00:43:23,659 Love it. 776 00:43:23,683 --> 00:43:24,267 Thanks Josh. 777 00:43:24,347 --> 00:43:25,115 Thanks John. 778 00:43:25,251 --> 00:43:26,251 Take care guys. 779 00:43:26,379 --> 00:43:27,323 Well friends, it's a wrap. 780 00:43:27,355 --> 00:43:30,043 Thanks so much for listening 781 00:43:30,075 --> 00:43:32,251 If you want to reach out to 782 00:43:32,259 --> 00:43:34,539 find those links down in the 783 00:43:34,563 --> 00:43:36,603 feedback on this particular 784 00:43:36,635 --> 00:43:38,843 We're going to get back to our 785 00:43:38,915 --> 00:43:40,507 As always, keep building, keep growing. 786 00:43:40,587 --> 00:43:43,387 Until next time, Keep living 787 00:43:43,467 --> 00:43:52,133 Well, thanks to those who've 788 00:43:52,165 --> 00:43:52,997 in the last few weeks. 789 00:43:53,037 --> 00:43:55,653 It's been a minute, so I want 790 00:43:55,805 --> 00:44:03,301 Thanks to Ezekiel no waste, 791 00:44:03,349 --> 00:44:08,885 and AZA underscore 21M for 792 00:44:08,941 --> 00:44:12,021 as the Bitcoin yogi for 793 00:44:12,149 --> 00:44:15,077 That's John Gordon that you 794 00:44:15,157 --> 00:44:17,637 He was responding to the 795 00:44:17,677 --> 00:44:19,301 Ramsey from Tropical Oasis. 796 00:44:19,349 --> 00:44:20,641 He said Great episode gents. 797 00:44:20,689 --> 00:44:23,313 I really enjoyed working with 798 00:44:23,345 --> 00:44:24,625 at Tropical Oasis. 799 00:44:24,721 --> 00:44:28,065 A lot of insights packed here 800 00:44:28,081 --> 00:44:29,793 and the benefits of liquid vitamins. 801 00:44:29,905 --> 00:44:33,457 Get 15% sats back on your 802 00:44:33,537 --> 00:44:38,225 which I won't list here, but 803 00:44:38,321 --> 00:44:44,097 link 7 capital U6 lowercase SWK. 804 00:44:44,177 --> 00:44:51,285 Once again, that's Oshi link 7 805 00:44:51,381 --> 00:44:53,493 If you would like to support 806 00:44:53,525 --> 00:44:55,461 stream sats as you listen or 807 00:44:55,509 --> 00:44:58,309 And if you include a note with 808 00:44:58,333 --> 00:44:58,797 it on the show.