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Demographics tell you that if the 750 trillion is handed down to people, you know, in their 50s and 30s,

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more and more of that money is going to go into Bitcoin because there's obviously an...

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But we are having a revolution of sorts.

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And so for everyone thinking about the assets they own,

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the reason I tell people that they should have at least 5% of their money in Bitcoin.

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What's up, guys?

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70,000 of you guys keep coming back every single month, but 71% are not subscribed.

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So you're going to miss out on some of the great Green Candle content.

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So make sure that you're hitting that subscribe button with the bell notification so you get notified every time I drop a video.

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All right, now let's get back into this great interview.

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Bing bong! I am back with another edition of the State of Bitcoin podcast where I'm here with the man, the myth, the legend, Jordy Visser,

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who had a very interesting podcast here not too long ago talking about the convergence of AI with the potential of a market crash in 2030.

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We've seen a lot of interesting data coming out here in the recent weeks, one of which is the recent college graduates.

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They're just not getting hired. Jobs market data is looking pretty terrible.

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And there's the theory out there that the AI is taking the lower end jobs.

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So then the younger college graduates need to get more educated or more qualified in order to get a starter level job, which adds up to a lot of issues in itself.

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But, Jordy, I'm curious how you view the economy currently as we're sitting here in 25 and as you're projecting it out to the potential of that market crash that you called in 2030.

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Well, everything is fine now and everything looks good because artificial intelligence is expanding.

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It's going to continue to expand.

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And I wouldn't categorize what I said as a market crash in 2030, but we can get to that over time.

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Anyone who thinks they can predict what's going to happen five years out is out of their mind.

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You take everything day by day, month by month, year by year, and you see how things progress.

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Artificial intelligence is going to keep the economy growing.

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It's going to keep inflation in check.

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It's going to disrupt and have more impacts on the labor market than we've already seen.

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This is not a new thing.

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It's just that artificial intelligence is the latest of innovations that have been disrupting the jobs market, creating inequality.

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And we're reaching the point where, in my opinion, artificial intelligence is accelerating so fast that it makes the movement that we saw from the smartphone and the cloud look very, very slow.

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And the speed of this is just confusing people.

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It's confusing governments.

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It's confusing central banks.

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And it's only going to worsen.

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So the economy is fine.

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The stock market's great because profit margins are good.

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But the labor market is going to worsen every year going forward.

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Okay, well, let's dive in a little bit more of that because you talked a little bit about

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re-rating risk or the potential of this downward shock in asset values.

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We've obviously seen, you know, the S&P 500 hit all time highs, Bitcoin shortly behind that as well, hitting all time highs.

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We're floating around, you know, the 110 mark right now.

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But, you know, it seems like everything's lining out for the potential of, you know, the stock market at least breaking out.

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But housing, on the other hand, is kind of in this weird area where maybe it's overvalued.

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Maybe, you know, prices are coming down in certain areas.

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So as far as assets, with gold even cranking up and hitting all-time highs, how do you view this? Do you see it as an asset bubble, or is it just signs of a healthy economy with the way that the stock market is pushing?

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I don't really believe in the concept of bubbles. It's a word that gets used way too much. Let's

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just say the central banks and the governments of the world have a significant problem. They've

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accumulated an enormous amount of debt. In America, we focus on the debt that we have,

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$37 trillion. But the reality is, this is a global problem. It exists in Europe,

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exists in Japan, exists in China, and that's the majority of global GDP.

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So the reality is when you have a debt bubble or a debt size this large, it's been accumulated over the decades, really since the U.S. got off the gold standard and we prevented what would be normal recessions or serious recessions.

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recessions. And so we're at a point where they have only two choices. They can reset the global

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economy and go into a depression like 1930 situation. Or the other thing is to debase their

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way out, to let interest rates be below the inflation rate to try and get rid of the debt.

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So rather than think of it as asset bubbles, you know, I'm sure most people that are watching this

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just realize that if you want to do better than inflation, you have to invest in things that will

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do better than inflation. Gold does better. Bitcoin does better. The majority of stocks

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that are sensitive to inflation, which has really been the United States of American stocks,

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not the rest of the world, have done better and bonds have not. So I think that's what's driven

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all this to this point. I think the housing market in the U.S., again, it had a surge which drove

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prices and affordability up to extremely high levels, and that was driven primarily by COVID.

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The problem is with the housing market, it's an illiquid asset. And so it gets marked higher because 30 houses are on a block and one house trades up 25 percent.

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And then all of those houses are up 25 percent until people start to sell.

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We don't have a lot of transactions happening and we don't have people selling because they have huge equity in their home.

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They've locked in mortgage rates at very low levels. And so it's just been a static housing market.

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I think the government is fixated right now on helping that.

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Housing affordability is going to be a major issue for the midterms next year.

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And there's been a lot of rhetoric that's been coming out of the White House over the

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course of the last month that they're going to declare a national emergency on housing

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affordability.

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They're also trying to pressure the Fed to lower rates.

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All of this stuff, in my opinion, will put a floor under housing.

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But I think the times of housing prices rising up are over.

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I don't see another quote unquote bubble or phase coming in housing to drive it higher.

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And again, this all gets back to the fact that AI five years from now, we'll be talking about humanoids.

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Humanoids will lower the value of houses because the cost of building a house will go down significantly when you don't have to use human beings to build it.

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So everyone just needs to prepare for asset prices in five years as having new competition from what artificial intelligence is going to bring.

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Yeah, that's interesting. And you've mentioned in your writing and everything else about these economic indicators being broken. Is this a primary, I guess, result of just AI and the efficiency going up? Or why do you think that these old economic indicators are now maybe that the tide is somewhat changing on that?

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Yeah, it's not just artificial intelligence. I think people should really, you know, take a step back and think about how much has changed in our lives since 2007.

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You know, in 2007, we had about $9 trillion in debt in the United States. Now we have $37 trillion. The increase of that debt was driven by two events. One was Great Financial Crisis. The second one was COVID.

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These were very large events that historically would have triggered some form of a serious recession slash depression.

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Now, obviously, with the Great Financial Crisis, you had a version of that where all the banks were under pressure and eventually the government had to come in and make sure that didn't go on.

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In 2007, you had the launch of the iPhone.

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Before that, for the people that are younger on here, we didn't have smartphones.

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So when that came out, the world changed.

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We got the App Store.

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We got iPads.

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We got a whole bunch of things that really enabled us to kind of transform the economy and make it something where, quote unquote, GDP as a statistic became irrelevant.

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Every day, GDP as a statistic becomes less relevant because that index was created in the 1930s.

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It was meant to measure physical goods, physical assets, not intangible assets.

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And intangible assets are what's dominated with technology, with software.

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And now with artificial intelligence, it just worsens. So we don't have recessions anymore. We can't have recessions anymore. We can't have them because the government can't let them happen. And they can't let them happen because we have too much debt and we have too big of a deficit.

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So the concept of what a recession is, is no longer relevant. And those statistics that I've referenced in the past that are no longer relevant, they're just not relevant anymore. They don't mean anything in a world where we're just going towards everything being software.

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And now we're going into a world where we're going to have humanoids and AI agents replacing workers.

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So how do you measure an economy if you have literally humanoids walking around doing the work for us?

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You have to change the index. You have to change the way they think about things.

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So we're in the early stages of that now.

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Yeah. So when you're saying that we can't have any recessions anymore and, you know, the debt is almost out of control, I guess is a two part question.

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Are we essentially just, you know, are you lining out a debt spiral where, you know, there's no way out and maybe it's Bitcoin as the savior or maybe something else, some other way to get off of, you know, the dollar reserve?

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And then on the flip side of things, if we can't get into a recession anymore, does this mean, you know, the economy is going to continually grow or do you see periods of stagflation and maybe some of the stagnation that we could potentially, you know, see here?

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Yeah, maybe this year, similar times to like the 70s per se.

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Well, not not having a recession again, this is hard for people to comprehend because they went to school and they hear this thing that means something.

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It doesn't it. There's no definition of it. So the you know, if you ask 100 people, probably 50 percent are going to say, I think it's two consecutive quarters of negative GDP.

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Well, we had that in 2022 and we didn't have a recession because we created four million jobs. So at the end of the day, it comes back to jobs.

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It comes back to can people, if they're out of work, get a job. Anyone who loses a job today can go get a job. Anybody.

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It's just a question of whether you want to do the work that's available.

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Do you want to clean hotel rooms?

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Do you want to work at Dunkin' Donuts?

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Do you want there's jobs everywhere, DoorDash, Uber.

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The problem is the government's been handing out money in transfer payments.

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You've got this huge distribution of wealth problem.

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You've got a lot of people working in the health care field, which can no longer afford to live in the areas.

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So when you talk about a recession, we're in one for many, many people in the country.

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It just doesn't involve job losses.

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It involves a situation of not being happy, of not enjoying things.

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And that's why the consumer confidence numbers, whether it's the University of Michigan one,

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which gets released monthly, or the conference board, these are at very low levels.

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In the case of the University of Michigan, I just wrote a paper to highlight that the

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most recent reading we had was the, I believe, the sixth lowest we've had since 1990. So you're

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dealing with 35 years of data points, and it was the sixth lowest, and yet we have one of the lowest

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unemployment rates in history, and we have the stock market continuing to be in a bull market.

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So anyone can have a job, the stock market's going higher, yet people are not confident. So

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theoretically, that's a recession, meaning the way people feel is not good. And that's why there

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is no such thing. And people should just stop this ridiculous thing of calling for recessions.

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This is an economics word which was created, which means nothing at the end of the day,

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if you don't have job losses. Yeah. And that is interesting because

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everybody seems to think that there is a little bit more underneath the hood when it comes to the

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jobs, not necessarily because there's losses. Of course, the unemployment rate is still

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at 4.3%, I believe, percent. But we do have a lot of revisions to the jobs market data where

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we wrote down 911,000 jobs. And those revisions are almost historic with how large they are.

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Do you think that it's just a data problem? Or is that more of, I guess, some weakening in that

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labor market to show that that was essentially Trump's card to call for these rate cuts?

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Again, the unemployment rate didn't change because those numbers are from the survey part.

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The numbers that go into the unemployment rate didn't change. So everyone expected the change.

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This goes on every single year. They do a survey and then they have to come back and

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go through the numbers. I think, again, I think the unemployment rate's sitting at one of the

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lowest levels. Jobless claims are sitting at one of the lowest levels in history, which means that

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nobody's getting fired. We have a very unique situation in the country. Number one, we have

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effectively stopped immigration and reversed it. So that brings down the available pool of labor,

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which used to be there. So we have shortages in a lot of categories now because of immigration

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turning back. At the same time, we lose about 300,000 people a year in the labor force,

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primarily from demographics, because we have older people turning older every single day

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and not enough replacement people to go in. So when you go through it, we have a situation where

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we actually have a labor shortage, as opposed to focusing on the negative side of looking at

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job revisions. We have a labor shortage. So part of the reason that AI and the job situation is

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actually going to be helped is the fact that without that, we'd be in bigger trouble.

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We'd be having, without immigration and without having the demographic replacement side, we'd

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be losing more jobs and we'd be in kind of a situation that Japan was in where their population

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had peaked and gone down. That has growth consequences without artificial intelligence.

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It has a lot of different components that can contribute to what will feel like a weaker

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environment. But I think people should just realize that the revisions are part of bad data

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that has always been there that comes out and gets released each month and then they go back

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and revise it but the unemployment rate did not change yeah that's fair and and I you know I've

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been one to say that the the data services and like the way that they're collecting in all of

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these different numbers and essentially making decisions based on that is just so outdated it ridiculous I mean the government got to update but who knows if they ever do it at this point What if I told you you never had to sell your Bitcoin

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proven. But I want to shift into more of Bitcoin because we've been talking a little bit about AI

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here. What do you think Bitcoin's role is in this new AI economy? And do you see it potentially

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changing the way people view markets in general? Bitcoin has achieved a status which, you know,

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six years ago, I think would have been very challenging for people to envision it happening

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this fast. And where I say that is, it has been accepted, I think, by most investors.

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And when I say most, let's say around the globe, Bitcoin is accepted as a store of value at this

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point. The user base continues to grow. Once you opened up the ETF, it became part of the retail

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channel and now you have all of the banks and everyone is going to be more involved in terms

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of Bitcoin and promoting it and adding it as a weight in people's portfolios.

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And the reason is because something really important happened this year once the inauguration

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was done, which is we had the United States supporting it and saying it was an asset and

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then putting in regulations and bills to support not just Bitcoin, but the entire crypto market.

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So my thought process for this year has been that this was one of, if not the most important points in the credibility of not only Bitcoin, but the understanding that it is part of the digital economy that will be growing rapidly.

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So 2022 was a horrible year for crypto.

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The following two years dealt with regulations and a lot of things that made it very difficult for entrepreneurs in the space to actually grow anything.

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During that time period where there were Wells notices and all kinds of debanking and things that were going on, you still had an ecosystem that was surviving, definitely not thriving.

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But Bitcoin found a way to continue to go higher during that time period.

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And so now we're at a different stage where stable coins are getting a lot of press.

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They're getting a lot of focus.

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It is where I think the mentality has shifted for the traditional finance world, which was brought into it because of the White House.

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But the traditional finance world has a much easier time with things like stable coins because they've got math behind.

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It's not just a story. It's not just a store of value.

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It actually has a business side that you can go in and think about.

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And so whether it's a circle IPO, whether it's the thought that Tether is going to bring an IPO, all of these things have gone on this year.

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You've had the Bitcoin miners really do well in the last month.

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And this is all driven by the fact that traditional finance is now trying to find a way to connect AI to this.

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And I've talked about it all year.

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The most important intersection between crypto, Bitcoin, and AI is going to be the network effects that come through AI agents and transactions.

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That will be growing rapidly over the course of the next year and a half.

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AI agents have just started to really impact transactions.

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They're going to continue to impact transactions.

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It's going to grow more and more.

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It has negative effects for jobs, but it has a positive impact in terms of the network effects.

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And so you're left with a world that's going to have more wallets opening up, more decisions made by computers.

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Human beings are the ones that have the bias against Bitcoin at this point.

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It has been the best performing asset on almost any metric since not only since the launch, but over the last decade.

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So it should have a higher weighting in people's portfolios.

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If computers are making the decision, which they'll be making more of the decisions in life every single day for the foreseeable future, they'll be making the decisions that don't have a bias to them.

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They'll be making the decisions that make the most logical sense, the most mathematical sense.

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And that's where Bitcoin will benefit dramatically over the course of the next five years.

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Now, you've called Bitcoin the S&P 500 of the future.

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Now, I'm curious kind of how you want to dive into that a little bit more, because I mean, if you look at the S&P 500, even though it's been doing very well, if you look at it compared to the M2 money supply growth, it's basically in line with that since the year 2000.

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Now, on the flip side of things, Bitcoin has just severely outperformed all of it.

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So is that essentially, you think, the new benchmark in investing?

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Or as these companies start to develop a Bitcoin standard, Bitcoin becomes more commonplace,

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MicroStrategy, MSTR joins the S&P 500.

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A lot of these companies start to join the S&P 500.

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that will just kind of morph into almost like a Bitcoin proxy, so to speak,

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and then that will make it that S&P 500 of the future?

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Or do you just see spot Bitcoin kind of finding that place in everybody's portfolio?

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Yeah, so I don't believe any companies inside the S&P 500

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or have a lifespan long enough for people to kind of go through who will be there in whatever years.

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This is one of the reasons why when I talk about 2030, the capital structure of companies is changing.

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The reason that we're seeing Circle go public, the reason we're seeing all of these companies at this point going public

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is partly because this is an overhang from 2022.

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too. The non-crypto companies like SpaceX, like Stripe, like so many of them are not going public

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at all. And the reason they're not going public is because there's really no reason to. And in a

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lot of cases, being a public company, I think, has proven to be a disadvantage in many, many ways.

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So if you don't, if capital is getting easier to raise because you don't need as much, because

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most of the capital that gets raised later in your growth curve ends up being for people,

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but you don't need people because you're using AI. We're seeing more and more companies that

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are growing rapidly. Companies like Cursor, Replit, Merkur. These are companies that

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are already massively over unicorn levels. They have ARs growing faster than any companies in

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history. And this is the new world that we're going to be in. So when I say that the 2030s

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going to be difficult, it's because all assets, every single asset will be disrupted by artificial

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intelligence. There's not one asset that will not be disrupted by artificial intelligence. So

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in five years, all the companies you mentioned that would be part of the S&P 500, you would be

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assuming they have a moat. They don't have a moat anymore. Nobody has a moat. So when I say that

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Bitcoin is the S&P 500, the S&P 500 historically has had a moat, meaning it's amorphous. If a

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If a company does really well and ends up in the S&P 500, well, if the companies that

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are doing really, really well and winning OpenAI, Anthropic, Figure AI, go through the

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list of what they're not public.

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So if these companies never go public, then they never go into the S&P 500.

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And if you were left with a graveyard of companies like Ford, GE, all of these zombie companies

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that are still part of the S&P 500.

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If every company in the S&P 500 was a zombie company, the index wouldn't go up.

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So a lot of what has happened has been the rebirth of innovation.

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The MAG-7 has dominated what's happened in the S&P since 2007.

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But if the replacement for the MAG-7 are companies that never go public and they start stealing market share from the MAG-7, then the S&P doesn't go higher anymore.

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And that's what I envision starting in 2030 and going bomb.

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And that all has to do with when AGI will be here.

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So the whole part of this is that you have to spend your time understanding that artificial intelligence and crypto combined are changing the way the world is.

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AI is changing the relationship between labor and capital, and Bitcoin is changing and crypto is changing the entire capital structure.

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So when you combine the two, you have a rebirth of a new system that isn't capitalism the way we've known it.

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It's a completely different system coming out of the 2030s.

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yeah that's very interesting the the new system in the 2030s now so essentially i mean we're seeing

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this growing trend just not only in the the ai and kind of the tech space but especially in the

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bitcoin space where companies are almost feeling like they don't they don't want to go public they

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want to hold that off where it seemed like before that was kind of the new craze everybody was trying

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to get an ipo try to figure out a way to become public as quickly as possible so i guess in

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In 2030s, you're essentially lining out that it wouldn't be as advantageous to go public at this point, right, for the founders.

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Is that right?

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I don't think companies are going to have a lifespan that lasts long enough.

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I don't think people fully grasp.

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You can right now go into your phone, go on ChatGPT, take any app that exists and say, hey, this is an interesting app.

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What I want you to do is go rebuild this app immediately today and give me a version of it, but add this to it.

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And then you can launch that all within a matter of minutes at this point, maybe an hour.

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And so that means competition is immediate.

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That didn't exist before.

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So part of having a moat, part of being able to go public is that you need to build something.

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And then in time, you have something that comes through.

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innovations just happen rapidly now. And you've given everyone around the world, so the 8 billion

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people now have the ability to code. So one of the things that's similar between crypto

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and the MAG7 is that they're built on code. And so we're entering a world where everything is

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built on code. Code is now ubiquitous. Code was not ubiquitous over the last 30 years. So one of

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the differences I have with people on the dollar is when they say, well, the dollar has been stronger

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because of military. It's been stronger because of this. No, the dollar has been stronger primarily

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because we had a monopoly on coding. All of the coders in the world were in Silicon Valley in a

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little tiny place in Northern California, and that's where the whole place birthed out. So

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they're not all Americans. In fact, many, many of the founders of the companies that are large and

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all of the ones that work there now, they're not American. They're from around the globe,

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which means that the rest of the globe has very smart people as well that can compete with

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coding. Well, now you're opening up all countries throughout Asia, all countries throughout the

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Middle East, all countries throughout Latin America, South America, every place. And you're

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giving them the ability of building businesses via code. So whatever you can come up with in crypto,

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whatever you can come up with in anything, you're assuming that someone else won't build something

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better within a year of what you built. That's not going to exist anymore. So it's not that I don't

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think any of the things that you just said. I just think people are mistaking that AI speeds up the

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innovation cycle. And it's that innovation cycle, how long it takes for someone to come out with a

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competitive product that leads to moats. And if you don't have that, think about how many games

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there's been since people were playing Fortnite and what happened to Axie Infinity and all these

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things. They come and they go. And there's a new one that comes out every single year. The same

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thing will happen with companies. Now, is that why we've already seen kind of like you lined out

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the Mag 7 essentially be super heavyweighted and like the S&P 493 essentially be flat at this point?

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Well, they have moats. And again, they have moats because they had coding and they bought

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up the competitors. So in from 2007 to 2020, they bought up everybody. They bought up every single

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company that came came out whether you know instagram doesn't every single part of this

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youtube these were all companies that existed and they just bought them up and so they added

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them to their suite of products that's not going to happen anymore so there's competition for

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everything there's cursor then there's replet that come this is going to happen people are

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going to replicate what's gone on and so your ability to grow your business is eventually going

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going to reach a peak. And when it reaches a peak, it's not an investable asset anymore. And I think

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that's the thing that people have. The great thing about crypto and kind of watching it, especially

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the 21-22 cycle, you would see coins that would go up just infinitely for a period of time,

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and then they collapsed. And if you really sit back and go through and think how that could happen,

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And you're going to start to realize that we're starting to see the same thing with inside the world now.

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It's just that things are moving still at a slow enough pace every single day because of artificial intelligence.

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We will be speeding up the cycle of movement in companies and their ability to grow.

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But that also means that the competition speeds up.

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And if the competition speeds up, these things go parabolic and then they reach a level and then they turn the other direction very, very quickly.

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So I think we're going to see a lot more what would be called boom busts, but they're really just going to be a faster innovation cycle.

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This bull run, I think everybody should focus on getting their Bitcoin in self-custody and off exchanges.

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We all saw what happened last time with the huge blowoffs.

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We had Celsius, FTX, all of the big dogs blowing up.

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Well, this time, everybody's being smart and holding their Bitcoin in self-custody.

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This is why I'm going with the number one hardware wallet in the game.

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00:30:01,654 --> 00:30:02,533
That's Trezor.

312
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314
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00:30:21,667 --> 00:30:24,727
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316
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Enough from me. Let's get back to the show.

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Now, do you think that the bigger volatility swings that we're seeing right now is just, I guess, a symptom of the amount of innovation that we're seeing?

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Or do you think it's because there's just more money in the market and those volatile swings with the amount of money supply, the debt, all of the economic factors is the reason why?

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Or is it more the innovation side of things?

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It's a little bit of everything.

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I mean, the size of the assets is enormous.

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and you have one of the largest assets, which is liquid bonds, they're not investable.

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So, you know, in the past, you'd have people moving between stocks and bonds.

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I don't know anyone that says they're moving money from stocks to bonds anymore.

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Unless we get to a period again where people actually think there's going to be a recession,

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you're just not going to see this happen.

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It's very hard to call for a recession when earnings are growing as rapidly as they are.

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profit margins are the way they are. And you have an innovation that's just in the early stages with

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a buildup that's massive. So all the points you mentioned have contributed to the volatility.

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And I just think we're going to be here. I think you'll have more 10 to 20% corrections

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than you had in the past. We had a 20% correction this year. We had a 20% correction in 2022. We had

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a 20% correction in 2020. And these are all for stocks. It's obviously been bigger for

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Bitcoin, I think people just have to get used to these cycles where we get bigger corrections

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because of the instability that's there, both from the innovation side, but also because

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of the size of the asset markets now.

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Okay.

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So now the size of the asset markets, it seems to be a little bit bigger too.

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But I mean, we've kind of been talking a lot about Bitcoin and AI, but one interesting

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aspect of the two developments of these two industries is they require a lot of energy.

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Now, is that somewhat of a limiting factor, you think, for the growth of these industries?

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It's just, hey, we need more data centers, we need more Bitcoin miners.

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And do you see that as almost a competition between the two that might be a negative and

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hinder the growth?

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Or is it a positive because it just, I guess, kicks the tail in to people to try to innovate

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and find renewable energy sources?

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Yeah, it's definitely a bottleneck for the next year or two, for sure.

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It could be a bottleneck for longer.

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But to your point, bottlenecks,

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we're going to have an enormous amount of spending,

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which is going to happen this year,

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on trying to find new energy solutions

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because the solutions that we have are just not going to work

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relative to how fast the demand for artificial intelligence is accelerating.

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We saw that recently with Oracle's earnings report just to see the historic demand that showed up for their capacity.

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And they mentioned that they're just not going to be able to fulfill these orders for the next five years because right now they don't have the capacity.

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So yesterday they raised, I think, $18 billion to help fund it.

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They already have a tremendous amount of debt outstanding.

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You're seeing NVIDIA put $100 billion into OpenAI.

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They put $5 billion into Intel.

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pretty much everyone out there is signaling that we for the data centers and for the energy,

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we're just going to need to build things and have power to support it. So that is certainly going to

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be the case. With all that money flowing in there, a lot of entrepreneurs realize that if they can

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come up with a novel solution for converting some kind of commodity or energy into electricity,

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there's a lot of value in it right now. So whenever you have a space that has a tremendous

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amount of investment dollars going with a significant problem that has the governments

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focused on it, you're going to see some breakthroughs in batteries and breakthroughs in fusions and

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breakthroughs in fissions and breakthroughs in hydrogen. You're going to see all of these things.

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And so five years from now, I think we're going to have, you know, a form of abundance in energy,

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which is going to blow people's minds. And even if we don't have it at that point, I think we're

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going to have solutions for 10 years out. And that's one of the reasons why, again, you know,

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For me, in thinking about the way people invest assets, I think people have to think that five years from now, the asset valuations that they have are going to come down.

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And this is my major thesis on Bitcoin.

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It's the one that I have a hard time convincing people, especially wealthy people.

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And I do a lot of presentations to family offices and wealthy individuals.

378
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But they should really be worried about what's going to happen in five years.

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Again, no matter what asset you talk about, whether it's real estate, whether it's stocks,

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artificial intelligence is going to be a massively disruptive part.

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And if we get to abundance, and people should hear the word abundance, they should go read

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about it.

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It's the opposite of scarcity.

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Scarcity is what creates everything.

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It's what economics is based on.

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Capitalism is based on.

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It's what assets are based on.

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The only things that have value are things that are scarce.

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And the only thing that I think will truly have a moat in a time of abundance is Bitcoin.

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And that's why I think it will continue to outperform fiat assets.

391
00:35:48,307 --> 00:35:53,427
But I think in the years to come, especially the next few years, as AI accelerates, I expect Bitcoin to accelerate too.

392
00:35:54,407 --> 00:35:57,227
Yeah. So with that, then, is it just going to be everything?

393
00:35:57,587 --> 00:35:59,487
I mean, we're already kind of seeing it, right?

394
00:36:00,007 --> 00:36:07,667
You know, if you price real estate, the stock market, everything else, if you price that in Bitcoin terms, everything seems to go down.

395
00:36:07,667 --> 00:36:16,747
I think in 2017, the average home, I want to say, in the U.S. was like 24 Bitcoin, and now it's like four or something along those lines.

396
00:36:17,587 --> 00:36:24,127
So when you price those assets, are you talking about pricing it in just Bitcoin terms, seeing it go down?

397
00:36:24,227 --> 00:36:32,887
Or are you seeing it more as, hey, everything's just even in dollar terms is just going to start to go down and it's going to have a hard time.

398
00:36:32,887 --> 00:36:40,047
And I guess if you're parking your fiat in any other type of asset outside of Bitcoin, it's just you're going to be losing purchasing power.

399
00:36:41,627 --> 00:36:54,467
Yeah. And this whole concept of pricing something in another thing, everyone has to understand that whenever you're doing any kind of a relative pricing, it's talking about moving one thing from one to another.

400
00:36:54,467 --> 00:37:15,807
And in the case of Bitcoin versus all other assets, people are going to have to, if they want to keep the wealth that they've accumulated, and again, the size of the fiat assets is anywhere, depending on which publication you want to read, somewhere between $500 trillion and a quadrillion.

401
00:37:15,807 --> 00:37:22,667
So let's just take $750 trillion and Bitcoin is a $2 trillion asset.

402
00:37:22,667 --> 00:37:29,487
So Bitcoin is extremely cheap relative to the value and the transfer of all of those.

403
00:37:29,707 --> 00:37:46,407
Well, demographics tell you that if the $750 trillion is handed down to people in their 50s and 30s as part of just the demographic shift, more and more of that money is going to go into Bitcoin because there's obviously an age bias towards what people invest in.

404
00:37:46,487 --> 00:37:50,487
And the younger they are, the more they're linked to Bitcoin and more interested in it.

405
00:37:50,487 --> 00:37:56,387
The further down the road of people who are not happy, the more they're looking for another system they're interested in Bitcoin.

406
00:37:56,907 --> 00:38:00,327
I write about this a lot. I talk about this a lot.

407
00:38:00,627 --> 00:38:06,027
We are at a stage where artificial intelligence is going to make the voters of the world angrier and angrier every single day.

408
00:38:06,407 --> 00:38:09,547
This is not just a United States phenomenon.

409
00:38:10,067 --> 00:38:13,707
The top 1% in the U.S. control 50% of the net worth.

410
00:38:14,167 --> 00:38:19,047
The bottom 50% don't equal anything close to what they have.

411
00:38:19,047 --> 00:38:24,047
So normally people would be talking about a revolution if this was 100 years ago.

412
00:38:24,327 --> 00:38:29,927
Well, we're not going to have a revolution the way that it has historically, but we are having a revolution of sorts.

413
00:38:30,087 --> 00:38:40,207
And so for everyone thinking about the assets they own, the reason I tell people that they should have at least 5% of their money in Bitcoin is a diversifier about this.

414
00:38:40,327 --> 00:38:44,127
Nobody has to listen and believe the things they hear from people like me.

415
00:38:44,647 --> 00:38:47,867
But you do want to make sure that you have a hedge on something.

416
00:38:47,867 --> 00:38:53,707
And if I was saying this about an asset that hadn't moved or wasn't big, it's a good argument.

417
00:38:54,087 --> 00:39:13,307
But you're dealing with one of the largest assets in the world now that has been the best performing asset since no matter what time metric you use, it's about time people thought of real estate in Bitcoin terms because they should have more Bitcoin at this point increasing relative to stocks, bonds and real estate.

418
00:39:13,307 --> 00:39:29,987
Yeah, I mean, I 100% agree with you. And I think that that's starting to happen, at least in the Bitcoin space. We're starting to see people look at the value proposition of buying something immediately and having maybe a little bit of a longer term preference.

419
00:39:29,987 --> 00:39:39,767
But I'm curious what you think with all we've got, the Genius Act and kind of the growing stablecoin type of revolution here in the United States.

420
00:39:40,227 --> 00:39:47,107
Even Russia has come out and said that we're going to potentially use the crypto and Bitcoin markets in order to try to pay off our debt.

421
00:39:47,307 --> 00:39:50,787
This bull run, I'm looking for ways to stack Bitcoin in my sleep.

422
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423
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424
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425
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426
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428
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432
00:40:37,707 --> 00:40:40,227
All right, enough from me. Let's get back to the show.

433
00:40:41,167 --> 00:40:47,767
You know, do you see that as a viable way out? And, you know, how do you see stable coins playing a role in all of this?

434
00:40:47,767 --> 00:40:57,407
um a viable way out um i think artificial intelligence is going to force the world to

435
00:40:57,407 --> 00:41:04,187
change um so i'm i'm not a stable coins are on are going to be dominated by the u.s dollar

436
00:41:04,187 --> 00:41:09,867
um they will keep getting higher and higher as a treasury holder because i expect there to be more

437
00:41:09,867 --> 00:41:15,007
and more dollars around the globe from emerging markets that move their money into dollar stable

438
00:41:15,007 --> 00:41:18,347
coins. I think that's going to happen. I think it's good for Bitcoin because I think that money

439
00:41:18,347 --> 00:41:22,707
just ends up in the digital economy. And rather than think of it as stable coins and Bitcoin,

440
00:41:23,307 --> 00:41:28,567
I just think everyone should break this down to fiat assets and then digital assets. And the more

441
00:41:28,567 --> 00:41:34,387
money that moves from fiat assets into stable coins, which is absolutely what happens when

442
00:41:34,387 --> 00:41:38,907
anyone in the world, I don't care if they're in Brazil or the United States, decides to do a

443
00:41:38,907 --> 00:41:42,687
transaction and then they're left with stable coins. Well, they have a choice. They can move

444
00:41:42,687 --> 00:41:48,447
back into the traditional finance world, or they can keep them in the digital world. And if they

445
00:41:48,447 --> 00:41:51,987
keep them in the digital world, they're probably going to put them in something with a store of

446
00:41:51,987 --> 00:41:55,387
value as opposed to just sitting there in stable coins where they're not getting interest. So they

447
00:41:55,387 --> 00:41:59,947
can have some kind of appreciation. Well, under that scenario, more and more dollars would just

448
00:41:59,947 --> 00:42:04,607
keep flowing into Bitcoin. And this is the reason why rather than people focus on what stable coins

449
00:42:04,607 --> 00:42:10,927
mean from an end of things, what the Genius Act did was basically tell the banks and the fiat

450
00:42:10,927 --> 00:42:17,707
system. Again, just like the ETF brought in new players that could buy it. Now the banks can go

451
00:42:17,707 --> 00:42:21,667
out and promote stable coins. They can issue stable coins and they can go out and promote

452
00:42:21,667 --> 00:42:26,047
Bitcoin. They haven't been able to do that. So for a lot of people, they haven't even been able to

453
00:42:26,047 --> 00:42:33,047
purchase an ETF because the banks wouldn't allow them to unless they met a certain investor wealth.

454
00:42:33,447 --> 00:42:37,507
So now everyone's going to have access to it that didn't have access to it. And gradually over time,

455
00:42:37,507 --> 00:42:42,007
more and more of those dollars will flow in. The problem is for Bitcoin and the thing that I think

456
00:42:42,007 --> 00:42:46,867
has disappointed everyone, and I expected it to be much, much higher at this point this year,

457
00:42:46,867 --> 00:42:51,787
I've openly said that I was just wrong on the appreciation. As we started this today,

458
00:42:51,847 --> 00:42:56,427
it was still up 19% year to date. So it's not like it's had a bad year, but I fully expected

459
00:42:56,427 --> 00:43:00,887
with the network effects kicking in, the stock market going higher and AI accelerating, that

460
00:43:00,887 --> 00:43:05,987
we'd be actually getting higher and higher prices. But I think the good thing for people is this has

461
00:43:05,987 --> 00:43:12,207
been a healthy year in the fact that the ecosystem has got the regulations associated with it that

462
00:43:12,207 --> 00:43:16,987
will help bring clarity and confidence that they can invest in this. I don't think there's any

463
00:43:16,987 --> 00:43:22,407
chance that if the Democrats take over in the next election that they're going to reverse the

464
00:43:22,407 --> 00:43:27,047
positive things that have happened because I don't think they'll get elected then. I think now crypto

465
00:43:27,047 --> 00:43:32,867
has become a major part of the voting bloc. I think that's why Trump went from hating Bitcoin

466
00:43:32,867 --> 00:43:35,947
and not being positive on it, turned on it.

467
00:43:36,067 --> 00:43:37,207
It's because of the voters.

468
00:43:37,387 --> 00:43:39,227
And that's why in this world,

469
00:43:39,607 --> 00:43:42,227
it is still the people through the revolution

470
00:43:42,227 --> 00:43:43,247
of both buying it,

471
00:43:43,307 --> 00:43:46,127
but voting in politicians who will support it,

472
00:43:46,547 --> 00:43:47,867
that it will continue to grow

473
00:43:47,867 --> 00:43:49,747
and people should continue to view it as something

474
00:43:49,747 --> 00:43:51,607
which is a long-term stable trend,

475
00:43:51,607 --> 00:43:54,267
which will accelerate as artificial intelligence

476
00:43:54,267 --> 00:43:55,707
disrupts fiat assets.

477
00:43:57,187 --> 00:44:00,427
Now, I'm curious how you view the payments aspect of it,

478
00:44:00,427 --> 00:44:03,827
because you talked about AI agents kind of transacting back and forth.

479
00:44:03,867 --> 00:44:05,787
And I do think that that is the revolution.

480
00:44:05,787 --> 00:44:09,347
But as it stands right now, do you see Bitcoin more as, you know,

481
00:44:09,407 --> 00:44:14,767
a digital gold type of aspect, at least for right now,

482
00:44:14,787 --> 00:44:19,627
and then potentially getting to, you know, the payments rails down the line?

483
00:44:21,027 --> 00:44:26,667
Yeah, I think stable coins are going to serve as the transaction side.

484
00:44:26,767 --> 00:44:29,687
I do think Bitcoin, you will be able to transact in it.

485
00:44:30,427 --> 00:44:42,687
I don't think it needs to be something that people don't think about it that way. I think you already can every day, more so than gold. Use it for collateral, use it for different things.

486
00:44:42,687 --> 00:44:57,227
I think because of the nature of the digital economy and it all being on your phone, there's going to be more ways to use that than there ever was in gold because you have a real time knowledge of what you own at any given point.

487
00:44:57,327 --> 00:45:00,507
Where with gold, how do you prove to someone how much gold you have?

488
00:45:00,587 --> 00:45:04,047
You have to have a documentation with stocks and all these other points.

489
00:45:04,047 --> 00:45:04,867
You can go through it.

490
00:45:04,867 --> 00:45:24,280
So I just think that Bitcoin may not be in terms of small transactions probably bigger transactions but that the way gold works too Everyday gold is used more and more between China and Russia China and Orion and places where they don want to be on the gold standard anymore They want to be on the gold standard So they transacting more and more They trying to

491
00:45:24,280 --> 00:45:28,420
basically say the dollar system is over. We don't want to be involved in it. Well, the same thing is

492
00:45:28,420 --> 00:45:33,140
going on for individuals. So I think Bitcoin shouldn't be debated by people on whether it

493
00:45:33,140 --> 00:45:37,980
will be used as a transaction or not. I think they have to think of it as a store value inside

494
00:45:37,980 --> 00:45:42,200
the digital economy. But because the digital economy will allow Bitcoin to be used in far

495
00:45:42,200 --> 00:45:46,460
more creative ways, I do think this is different than gold, where gold really has not been a part

496
00:45:46,460 --> 00:45:51,220
of transactions in any way, shape, or form. You cannot walk into a grocery store and go buy

497
00:45:51,220 --> 00:45:56,000
something with gold. You can't go into a pizza place and buy something with gold. You absolutely,

498
00:45:56,160 --> 00:46:00,660
100% around the globe, can go into any store and go buy something with Bitcoin. You just have to

499
00:46:00,660 --> 00:46:05,420
have your wallet set up to where you can convert Bitcoin into stable coins and then pay for

500
00:46:05,420 --> 00:46:11,920
something. The only issue is it's not tax effective at this point. But I think this is one of the

501
00:46:11,920 --> 00:46:16,900
things that I would fully expect is that for smaller transactions, Bitcoin will be a tax-free

502
00:46:16,900 --> 00:46:21,700
type situation. If they do that, then you will see more and more usage happening for transactions.

503
00:46:22,620 --> 00:46:28,300
Now, do you see Bitcoin as somewhat of that geopolitical neutral asset, so to speak,

504
00:46:28,380 --> 00:46:34,840
just because it's completely decentralized as you were lining out some of these countries trying to

505
00:46:34,840 --> 00:46:40,040
get away from the dollar, right? Do you see that as potentially the future there where, you know,

506
00:46:40,040 --> 00:46:47,240
maybe some international trade is going to start being taken place, utilizing Bitcoin just as that

507
00:46:47,240 --> 00:46:53,180
geopolitical neutral type of asset? Yeah, I think eventually we'll get there. I don't know when

508
00:46:53,180 --> 00:46:58,800
that'll be, but I think, you know, again, if we look back two years from now, we couldn't have

509
00:46:58,800 --> 00:47:02,460
envisioned where we are today with the Genius Act and with what's going to happen with the Clarity

510
00:47:02,460 --> 00:47:08,520
act. I mean, I think people just have to take the progression. Last year was a very important year.

511
00:47:09,300 --> 00:47:15,020
The future president of the United States spoke at a Bitcoin event. And this is someone who was

512
00:47:15,020 --> 00:47:19,280
negative on Bitcoin, the same way Larry Fink was, and the same way Jamie Dimon was. And now they're

513
00:47:19,280 --> 00:47:25,840
all kind of embracing it reluctantly, I would say. And the reluctance is related to the fact that

514
00:47:25,840 --> 00:47:30,420
they don't understand it. The acceptance is the fact that they all are trying to make money,

515
00:47:30,420 --> 00:47:35,400
and the voters are saying we want this. So I'm just going to keep going with the fact that

516
00:47:35,400 --> 00:47:41,920
sometimes with crypto and especially with Bitcoin, there's an impatience that shows up with people.

517
00:47:42,240 --> 00:47:47,020
You want to watch the progression happen. And if every three months you look back and say,

518
00:47:47,020 --> 00:47:51,640
oh my God, look what we just accomplished in crypto. You couldn't do that in 2022.

519
00:47:52,280 --> 00:47:58,600
You couldn't do that in 2023. But then gradually, especially in 2024, we started seeing the signs

520
00:47:58,600 --> 00:48:04,420
that the voters were demanding this and it had survived this kind of the winter of crypto.

521
00:48:05,320 --> 00:48:10,440
And once we get through this overhang, which I think Q4 will probably be a very, very good year

522
00:48:10,440 --> 00:48:15,700
for a very, very good quarter for Bitcoin. And I think it'll be a very good quarter setting up for

523
00:48:15,700 --> 00:48:20,480
next year. Yeah, it always seems like, you know, October, November, those are the best performing

524
00:48:20,480 --> 00:48:24,520
months in Bitcoin. So always toward the end of the year, it always seems to ramp up, especially

525
00:48:24,520 --> 00:48:29,860
in the bull market now you mentioned a little bit about the price action here earlier how you

526
00:48:29,860 --> 00:48:37,260
you know essentially didn't uh anticipate it being i guess moving as slow as it is uh why do you

527
00:48:37,260 --> 00:48:43,920
think that is uh you know we haven't seen the big price jumps right now and you know do you see uh

528
00:48:43,920 --> 00:48:48,120
you know some of these big price jumps and you know if you want to give a little price prediction

529
00:48:48,120 --> 00:48:52,980
here happy and feel free to to give us a little call like your your babe ruth pointed at the

530
00:48:52,980 --> 00:48:58,780
outfield or something. Given the fact that I thought we'd already be above, let's say,

531
00:48:58,840 --> 00:49:03,920
175,000 now, I think my predictions for this are already wrong. So there's no need to get into new

532
00:49:03,920 --> 00:49:12,940
predictions and be wrong again. I think in 2023, Bitcoin went sideways, if I remember correctly,

533
00:49:12,940 --> 00:49:20,800
from February to September. And then it had a ramp that led into 2024, into the ETF,

534
00:49:20,800 --> 00:49:25,720
and maybe a month after. And then again, we went sideways last year from about

535
00:49:25,720 --> 00:49:30,340
five to seven months leading into the election. And then we got another rise.

536
00:49:30,340 --> 00:49:34,760
We peaked. We went sideways for four months before we went down with the tariffs.

537
00:49:35,260 --> 00:49:41,420
Then we rallied back up over $100,000. We've been over $100,000 for the entire time since we got back

538
00:49:41,420 --> 00:49:48,240
above. And now we've been consolidating between $100,000 and $120,000. And again, it's been now

539
00:49:48,240 --> 00:49:56,220
since May. So we're on four months again. This is the way Bitcoin has traded. When you do that

540
00:49:56,220 --> 00:50:02,420
kind of stuff and you look like a staircase, as I sent someone a message today, I said,

541
00:50:02,480 --> 00:50:06,620
what do you say? I'm like, well, if you think of Bitcoin and you believe it's going higher,

542
00:50:06,620 --> 00:50:11,020
this is kind of like a stairway to heaven. It's just, okay, it goes up and then it goes sideways

543
00:50:11,020 --> 00:50:16,300
and it goes up and it goes sideways. And during that sideways period, every single bullish person

544
00:50:16,300 --> 00:50:23,400
on Bitcoin eventually gets just, I don't want to say shaken out, but they lose interest.

545
00:50:23,500 --> 00:50:25,080
They're like, this thing's never going to move again.

546
00:50:25,400 --> 00:50:26,920
I don't know what the catalyst is going to be.

547
00:50:27,160 --> 00:50:29,660
And then something happens and it goes up to the next level.

548
00:50:29,940 --> 00:50:33,740
And so I fully expect that that's going to happen again here because of all the things

549
00:50:33,740 --> 00:50:34,520
that we talked about.

550
00:50:34,520 --> 00:50:39,260
The hard thing is to ignore the structural positives that have happened this year.

551
00:50:39,760 --> 00:50:45,340
There is absolutely no doubt that when you look at what gold has been able to do, which

552
00:50:45,340 --> 00:50:49,980
has outperformed Bitcoin, and you think about the reasons behind it. Well, those reasons have not

553
00:50:49,980 --> 00:50:54,580
impacted Bitcoin. But let's assume that every single thing that was positive for gold this year

554
00:50:54,580 --> 00:50:59,000
in terms of not trusting the dollar, the dollar weakness, you say, okay, well, that was part of

555
00:50:59,000 --> 00:51:03,300
Bitcoin's move. Okay, great. Well, then we're not including anything for the network effects. We're

556
00:51:03,300 --> 00:51:07,820
not including anything for the Circle IPO success. We're not including anything for the stablecoin

557
00:51:07,820 --> 00:51:13,920
transactions going higher, the Genius Act getting through. All of these things have happened. And so

558
00:51:13,920 --> 00:51:19,480
eventually, just through the normal progress, it'll start to go higher. And the reason the

559
00:51:19,480 --> 00:51:24,820
fourth quarter matters so much, that's when allocations are made. And allocations to me

560
00:51:24,820 --> 00:51:30,380
are going to jump into Bitcoin as it goes higher in the fourth quarter to set up for next year.

561
00:51:30,380 --> 00:51:35,700
I think we are going to see people have a higher and higher weight in their portfolios as more and

562
00:51:35,700 --> 00:51:43,040
more retail and FAs are allowed to suggest it. It's just going to happen. And I think it'll start

563
00:51:43,040 --> 00:51:47,240
in the fourth quarter. We're probably just going to have to go through a little period of time here

564
00:51:47,240 --> 00:51:51,740
because we've had such a good rally driven by the AI stocks. Let's wait till the earnings reports

565
00:51:51,740 --> 00:51:57,580
come through. And then as we get into mid-October and we're kind of seeing the earnings come out

566
00:51:57,580 --> 00:52:03,120
and everyone realizes, oh my gosh, the economy is good. The Fed's cutting rates. What am I going to

567
00:52:03,120 --> 00:52:08,620
get my returns in next year? And they want to have more risk on. And that means not as much bonds.

568
00:52:09,300 --> 00:52:12,500
I think they're just going to start putting more money into Bitcoin.

569
00:52:13,040 --> 00:52:30,340
Do you think that the shift from boomers to the younger generation, that kind of like wealth shift as well, do you think that's going to play a role in, you know, essentially, you know, the American dream of buying a house with a white picket fence and everything like that might be, I guess, dead for now.

570
00:52:30,960 --> 00:52:42,740
And, you know, they see Bitcoin and, you know, the crypto markets as more of the new way to invest. And so that will also play a role into, you know, potentially the Bitcoin boom.

571
00:52:43,040 --> 00:52:51,960
Yeah, it has to happen. That is the generational shift that's part of the fourth turning without

572
00:52:51,960 --> 00:52:56,560
getting going through specifics. But when you get this generational shift that gets

573
00:52:56,560 --> 00:53:00,680
defined as the fourth turning, part of the fourth turning is that

574
00:53:00,680 --> 00:53:05,740
Why would you ever hold generational wealth on a piece of paper? It doesn't make sense.

575
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579
00:53:25,460 --> 00:53:29,400
It is the cheapest and most secure way to store your C-phrase.

580
00:53:29,660 --> 00:53:35,580
I don't know about you guys, but I don't have too many things where I think one ton is going to fall on this,

581
00:53:35,660 --> 00:53:38,080
but it could survive all of that and more.

582
00:53:38,700 --> 00:53:41,300
So go to CryptoSteel.com.

583
00:53:41,300 --> 00:53:48,020
you can use promo code GREENCANDLE. You can get 10% off your entire order if you go there today.

584
00:53:48,460 --> 00:53:54,120
So go ahead and protect your generational wealth and do it with crypto steel. All right,

585
00:53:54,240 --> 00:53:59,960
enough from me. Back to the show. The people that are in the fourth generation post the last

586
00:53:59,960 --> 00:54:04,340
kind of revolution slash collapse, which in this case was the ending of the Great Depression and

587
00:54:04,340 --> 00:54:10,720
World War II, that fourth generation is more interested in a new system and a new rebirth.

588
00:54:10,720 --> 00:54:18,160
And that's why I say AI is going to cause a rebirth in the way businesses transact, the way assets are valued.

589
00:54:18,480 --> 00:54:21,420
And crypto is a representation of the new capital structure.

590
00:54:21,880 --> 00:54:24,100
So to me, it's not a question.

591
00:54:24,380 --> 00:54:26,540
It's 100% certainty.

592
00:54:27,060 --> 00:54:31,860
And I can say that because artificial intelligence is not a technology.

593
00:54:32,540 --> 00:54:38,720
And I don't know how many people have thought about it enough to understand this.

594
00:54:38,720 --> 00:54:42,820
artificial intelligence right now is a national security issue.

595
00:54:42,940 --> 00:54:45,580
China and the U.S. are racing with it.

596
00:54:45,580 --> 00:54:49,200
It will be embedded in every machine that you own.

597
00:54:49,740 --> 00:54:53,600
Start with your phone, then go to your computer, then go to your car.

598
00:54:53,820 --> 00:54:55,160
Then you'll have a humanoid in there.

599
00:54:55,460 --> 00:54:56,500
We already have drones.

600
00:54:56,760 --> 00:55:01,580
The war being fought between Russia and Ukraine is basically an artificial intelligence war.

601
00:55:02,140 --> 00:55:04,640
All of these things are what we're headed towards.

602
00:55:04,640 --> 00:55:09,440
and artificial intelligence is accelerating compounding in about every six months in a pace

603
00:55:09,440 --> 00:55:13,500
that is dramatic. And it's the reason why I spend so much time talking about it. So

604
00:55:13,500 --> 00:55:19,940
the generational shift is meeting with an innovation shift. And both of these are going

605
00:55:19,940 --> 00:55:24,760
to create a new system. This is not a guess on my part. This is a certainty. And if people want to

606
00:55:24,760 --> 00:55:30,300
just sit there and say, how can I be living in a world with flying cars, autonomous cars,

607
00:55:30,300 --> 00:55:37,140
and humanoids walking around everywhere, being able to fly to Mars and colonize Mars and think

608
00:55:37,140 --> 00:55:42,480
that the world that I knew still exists. It doesn't exist. Now for young people,

609
00:55:42,700 --> 00:55:47,820
they can embrace that because they don't have the memories of what it was like to watch a TV

610
00:55:47,820 --> 00:55:55,920
with rabbit ears. They don't have the memory of a phone with a cord. Kids already get this. And

611
00:55:55,920 --> 00:56:01,120
And the younger they are at this stage, and for anyone who's 25 right now, that means at

612
00:56:01,120 --> 00:56:05,480
25 years old, the iPhone was born when you were seven.

613
00:56:05,480 --> 00:56:06,720
So you grew up with it.

614
00:56:06,720 --> 00:56:08,220
You know what social media is.

615
00:56:08,220 --> 00:56:09,220
You understand this.

616
00:56:09,220 --> 00:56:12,720
You are more fluent in AI.

617
00:56:12,720 --> 00:56:16,900
Once that generation more and more becomes part of this, they're not going to be viewing

618
00:56:16,900 --> 00:56:18,340
housing the same way.

619
00:56:18,340 --> 00:56:24,340
They're not going to view living in the town that I grew up the same way that people did

620
00:56:24,340 --> 00:56:25,600
after World War II.

621
00:56:25,600 --> 00:56:29,520
So I just think there's a generational shift that's coinciding with an innovation shift.

622
00:56:29,960 --> 00:56:37,140
And those two things are all part of crypto because people need to remember there is no Bitcoin without computers.

623
00:56:37,720 --> 00:56:40,180
There is no Bitcoin without coding.

624
00:56:40,720 --> 00:56:42,900
There is no AI without coding.

625
00:56:43,040 --> 00:56:44,820
There is no iPhone without coding.

626
00:56:44,820 --> 00:56:50,880
People have to just accept that the world is built on code and it all comes together.

627
00:56:51,100 --> 00:56:52,580
So this was not just luck.

628
00:56:52,580 --> 00:56:57,800
the generational shift happened at the same time that code took over the world.

629
00:56:58,260 --> 00:57:01,400
And so people need to just start facing facts that five years from now,

630
00:57:01,440 --> 00:57:02,840
with the acceleration that's happening,

631
00:57:03,180 --> 00:57:05,680
we're going to have an incredibly different world

632
00:57:05,680 --> 00:57:08,340
that the only way people my age can possibly remember it

633
00:57:08,340 --> 00:57:12,080
is if they go back and watch episodes of The Jetsons or Star Trek or something like that.

634
00:57:12,860 --> 00:57:14,820
Do you think that there's going to be some,

635
00:57:14,820 --> 00:57:17,760
I mean, it was a big narrative in the Bitcoin space for a while.

636
00:57:17,960 --> 00:57:19,200
Like now they fight us.

637
00:57:19,520 --> 00:57:21,420
There's going to be some reckoning coming.

638
00:57:21,420 --> 00:57:24,540
some governments are going to try to attack Bitcoin?

639
00:57:24,800 --> 00:57:28,620
Or do you think that because of what President Trump showed,

640
00:57:28,860 --> 00:57:30,740
essentially if you embrace this market,

641
00:57:31,300 --> 00:57:34,060
there's so many people behind it, money behind it,

642
00:57:34,420 --> 00:57:37,880
that you either got to embrace it or get left behind.

643
00:57:37,980 --> 00:57:40,160
Do you think that there's still room for governments

644
00:57:40,160 --> 00:57:43,440
to try to either backdoor their way in

645
00:57:43,440 --> 00:57:45,900
or try to fight this industry from growing?

646
00:57:47,220 --> 00:57:48,700
No, I don't think so.

647
00:57:48,760 --> 00:57:49,640
And again, that's why I said,

648
00:57:49,640 --> 00:57:59,380
I think it made it very easy for the Democrats to regulate it because Europe was on the same side of regulation and China was and Russia was like no countries in the world wanted to embrace it.

649
00:57:59,380 --> 00:58:24,060
What we've seen this year with just in the last two months, Europe and China have both publicly come out, the ECB and the Bank of China, and talked about the fact that what the U.S. is trying to do with stable coins is basically continue the dollar as a reserve currency through using stable coins and knowing that 90 plus percent of the stable coins are backed by dollars.

650
00:58:24,060 --> 00:58:29,760
I think everyone is being forced in, like you said, whether or not they wanted to embrace it is a different story.

651
00:58:30,980 --> 00:58:36,740
Governments accepting crypto was not something that I thought would be happening now.

652
00:58:37,560 --> 00:58:43,980
That just shows how powerful the voting bloc was in the United States of America to force this to happen.

653
00:58:43,980 --> 00:58:57,120
The president was elected because the voters, of which there's about 30 million that are pro-crypto at this point in the country, decided and went with the candidates that were pro-crypto.

654
00:58:57,720 --> 00:59:01,960
And so the entire administration, all the cabinet members, everybody is pro-crypto.

655
00:59:02,360 --> 00:59:04,460
This was a major, major point.

656
00:59:04,640 --> 00:59:06,260
And I don't think this is about Donald Trump.

657
00:59:06,420 --> 00:59:07,660
I don't think this is about the White House.

658
00:59:07,780 --> 00:59:09,480
I think this is about the voters in the country.

659
00:59:09,560 --> 00:59:12,420
And I think that's the issue that people just have to accept.

660
00:59:12,420 --> 00:59:30,820
I can say this over and over again. We have one of the lowest unemployment rates in the history of the country. We have a stock market that's at all time highs. And yet consumer confidence is extremely low levels. That is not something that was on the bingo card that you could throw out there and be like, what do you think will happen with this?

661
00:59:30,820 --> 00:59:49,340
So people just have to realize that people in their 20s and 30s have been impacted significantly. They can't buy a home the way that they thought they would. Their job, they don't have upward mobility the way they did. We talked about the fact that AI is disrupting mainly the younger people at this stage, the entry level jobs, the kids coming out of college.

662
00:59:49,340 --> 00:59:59,940
That is what causes revolutions is when the younger people not only can't get a job, but they don't have the upward mobility that they can dream and have hopes that they'll eventually make a lot more money than they did in the past.

663
01:00:00,360 --> 01:00:05,240
And so when you get to that scenario, and it's not just the kids and the people in their 20s and 30s that say that.

664
01:00:05,640 --> 01:00:11,040
I talk to parents that are in their 50s and 60s that are worried about their kids because they're hearing the same things.

665
01:00:11,040 --> 01:00:15,040
I have four kids, three of them have graduated college,

666
01:00:15,040 --> 01:00:18,040
and all three of them have had to make life decisions

667
01:00:18,040 --> 01:00:21,040
because of the profession that they chose.

668
01:00:21,094 --> 01:00:25,014
for the rest of their lives because they're in the healthcare field, but they can't live the

669
01:00:25,014 --> 01:00:30,014
way they want to live, meaning they can barely survive on their paycheck in the cities that

670
01:00:30,014 --> 01:00:36,294
they want to live. And it's a reality that it's very, very difficult to do that in this society

671
01:00:36,294 --> 01:00:41,634
right now. And we see it. And that's why when the top 1% have benefited from QE and assets rising

672
01:00:41,634 --> 01:00:46,974
and the bottom 50% have not, you get a lot of anger and you get people looking for a new system.

673
01:00:46,974 --> 01:00:49,454
So I think this all fits into the same theme.

674
01:00:49,514 --> 01:00:54,734
And I think it's going to be a theme for the foreseeable future because there's no way to fix this problem without a new system.

675
01:00:55,554 --> 01:00:59,474
Yeah, and I think obviously at the center of that new system.

676
01:00:59,634 --> 01:01:08,094
So I think, you know, once we see that adoption coming, but it's interesting that you're saying kind of this five-year mark.

677
01:01:08,094 --> 01:01:18,054
Why do you have it as 2030? And is there some deeper reasoning behind the cycle of that 2030 date that you keep mentioning?

678
01:01:18,934 --> 01:01:44,176
No so there two things that are happening in let say four years Number one is AGI will be here or it be right around there AGI is the most critical part of let say the stages of AI And when we get to that point things are just moving so fast Novel solutions are happening on everything related to biology related to energy related to physics everything

679
01:01:44,176 --> 01:01:54,056
At the same time, this was a historic election in terms of getting the administration to focus both on crypto and AI.

680
01:01:54,796 --> 01:02:00,456
Well, this is a democratic world and the United States of America will have a new election happening.

681
01:02:00,796 --> 01:02:08,496
So I think people just have to face the fact that there will be a new president in taking office in 2029.

682
01:02:09,316 --> 01:02:12,476
The inauguration will happen four years from when it did this year.

683
01:02:12,476 --> 01:02:16,236
And at that point, we may not have the exact same viewpoint on what's happened.

684
01:02:16,236 --> 01:02:33,798
We about to elect a mayor in New York who openly a socialist The country I think has more socialist tendencies now brewing We have a polarized government So AGI is a major event And over the next four years I fully expect that the job

685
01:02:33,798 --> 01:02:40,418
situation will worsen, not get better, because AI will continue to accelerate. And so four years

686
01:02:40,418 --> 01:02:45,598
from now is really all because of artificial intelligence. It has nothing to do with just a

687
01:02:45,598 --> 01:02:48,538
random date. It has to do with where artificial intelligence will be.

688
01:02:49,418 --> 01:02:49,538
Gotcha.

689
01:02:49,818 --> 01:02:53,978
Well, Jordy, it's been an extremely insightful conversation, so I really appreciate you coming on.

690
01:02:54,318 --> 01:02:58,898
Why don't you tell people where they can find out more about you and learn more about your work?

691
01:03:00,618 --> 01:03:05,138
Yeah, they can find me on X, on LinkedIn.

692
01:03:05,138 --> 01:03:12,198
I do a weekly YouTube video, which, you know, it's easy to understand.

693
01:03:12,198 --> 01:03:21,838
I go through in about 40 minutes what happened in the week of macro, what happened in the week of AI, what happened in the week of crypto.

694
01:03:21,978 --> 01:03:22,938
I link it all together.

695
01:03:23,638 --> 01:03:32,640
The goal is to help retail investors and institutional investors navigate through what is a lot happening in a short amount of time

696
01:03:33,180 --> 01:03:34,240
Hopefully make it clear.

697
01:03:34,600 --> 01:03:36,080
Hopefully help people make some money.

698
01:03:36,940 --> 01:03:39,480
They can also find me on Substack.

699
01:03:39,680 --> 01:03:46,540
I write a lot of pieces at least once a week on my view of the world and how things are going to change.

700
01:03:46,540 --> 01:04:02,560
And then for anyone who's institutional who watches this or, you know, is a retail person that does a lot of trading, I do spend some time with 22V producing research for them, more specifically on AI in particular.

701
01:04:03,000 --> 01:04:03,880
It's a macro place.

702
01:04:03,940 --> 01:04:05,800
But those are the places where people can find me.

703
01:04:06,960 --> 01:04:06,980
Awesome.

704
01:04:07,080 --> 01:04:08,500
And I'll put all that in the show notes.

705
01:04:08,640 --> 01:04:09,780
Jordy, thanks so much.

706
01:04:10,480 --> 01:04:11,060
Thanks, Brandon.

707
01:04:11,520 --> 01:04:15,540
Thank you guys all for tuning in to another great episode of the State of Bitcoin podcast.

708
01:04:15,540 --> 01:04:20,120
podcast. If you found some value in this one, please hit that subscribe button and that like

709
01:04:20,120 --> 01:04:23,980
button to help send this one to the masses. And I've got a surprise for you guys. I've got two

710
01:04:23,980 --> 01:04:28,260
more episodes that you have the chance to watch here. So go ahead and click one of them and I'll

711
01:04:28,260 --> 01:04:29,640
see you guys all at the next one.