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I’m not a Licensed financial advisor. All videos on this channel are for educational purposes only.You should not buy,sell,or invest in any asset based on what I sayin these videos.You should know that investing
I'm here with the one and only Gary Cardone Gary how you doing today doing Great thank you thank you very much Brad Good to be hey thank you for having me Man you know uh I know we had some Technical issues on this end I almost Think Gary it wasn't on your end I think It says snow I've got a sign over my Shoulder says beach house it is not Looking like a beach house right now This is snow out here G yes this is not Good well we're we're in the 60s and That's really cold for uh for Florida so We're we're doing okay I'm not going to Complain no you're not going to complain I'm envious right now that I can't get On that plane behind you on that table And fly down there and chill but look Let's get this conversation started Today you when did you get into this Space of digital assets and investing in Bitcoin uh I started looking at it in 16 Uh I think the price was around 300 Bucks there was so much noise around I Think the first Uh real audio video books I read you Know the Roger ver was going around and Doing his deal and like I really I Really got the whole premise what I Didn't like though uh for two years was The circus just the amount of noise Around it the infighting I mean this is Seven years ago there was a lot of Tribal in fighting seems like that has
Not ever Abad it just continu is on like A high school um and in 18 I invested I Bought some gold and bought some Bitcoin Bought a lot more gold than I did Bitcoin and left it left it away didn't Really look at it I think my entry point Was eight grand didn't really think About it for two more years um and then I started really getting bored with my Old business I was trying to I go into Industries that are going through Restructuring and invest money in into Building businesses in that big gap That's created between New World and the Old world way I like to Define it analog To the Digital Universe um Haron buggy to actually a Tesla uh you know like look at the Progress we're making I don't believe That progress ever unwinds itself it Only Continues um I mean really basic Conversations like with a really wealthy Guy two nights ago he's like okay I Don't really get this and I said well Look are we going to digitize more or Are we going to go back To you know Excel spreadsheets and Pencils and balance sheets like that or Are we going to do more digitization and You know you know the answer is hey dude We're going to absolutely do more Digitization and if you believe that Then you will get to a point of 100%
Digitized Earth well our Legacy system Isn't built For digit you know tracking tracing Accounting for digital assets it's is a Pencil Ledger type World we've been Living in so the whole thing moves like Everything's going to change um and and It's with that background of change like It my confidence level is so high here Because I know what the indicators are From the old players and what the Mistake are of the new players just the Marketing program from a decentralized Asset like Bitcoin just look at the advertisements That that are being posted today by Black Rock and and uh Invesco and others Fidelity the this is real marketing this Is real promotion for Bitcoin compared To the old hey store it on your wallet Be your own bank kill the world Fiat Dollar is going to crash that that's not A good pitch to somebody with $100 Million and they're all in Legacy assets And you're telling them all their assets Are going to crash so they need to put $100 million on a wallet a hardware Wallet and they're thinking hm let's see Now this little iPod here I have I Remember my telephone used to weigh 30 Pounds and you're telling me this little Ledge or this little thing I'm going to Put1 Million Dollar on it right and walk Around come on it it's it's so IR
Realistic about how people handle big Money And I think that's what we've discovered Brad is that first seven eight 10 years Of this product up until very recently It has been a bunch of small investors Really uh it's not been Institutional heavyweight investors and I think that's what this ETF is about um So we're moving people may not like the Move we're making but we're definitely Going to adoption well you know listen There's so many incredible things that You touched on in that response I just want to try to pull out a few Things because they were incredible so I Want people the audience to realize what You've done I have a similar approach to This Market all the time I I have one of The core tenants of the investing for Myself it's not investment advice for Anyone listening and nothing we say is But uh one of my core tenants that I Share as a strategy is I stack my Pennies next to their dollars and who Are they they are the ones that are in This space building out here helping to Create the market infrastructure that's Going to exist that exists today and Beyond today and that's exactly what You've done you saw and identified a new Market a new industry you saw the gap Between the traditional markets and the New industry and now you're placing your
Bets on what companies or projects or Tokens can fill that Gap and help marry The two together so we get this new Digital Revolution so I just think That's a Wonder ful macro approach for Everyone to identify with for themselves The beautiful thing about that is is That everybody may come up with a Different list of what projects or Companies they think can fill that void And that's the beautiful part of Everybody being a individual and doing Their own research so bringing things to Where we are Today you know we're in a much different Place today with Bitcoin Bitcoin in 2009 And its white paper was about Anti-government anti Bank Antiestablishment use it for money use It for payments this was what it was all Designed to be but as you said today Where we are some people may not care For exactly the way things are looking So far these days but today we see the Legacy Institutions coming out and getting the Approval to launch these spot Bitcoin ETFs Gary that's not cash that that That's an investment product let's hear Your thoughts on that if we could yeah Most certainly most certainly it's an Investment product the investor is a Different category uh player than I Think we've seen
Before um look I don't think I don't Think the original people that that Built Bitcoin and then promoted it for The last say 10 years uh are going to be Overly happy with this Result um but if you want adoption this Is what adoption looks like um unless we Go to a Mad Max world right like I don't Think that me having a thousand Bitcoin And being in a Mad Max world is a really Cool place to be no you're i' rather Have zero Bitcoin thank you yeah um look We're not we're not going to overrun the US government and the Dollar's position Globally in the next two or three years It's just not realistic bitcoin's not Ready Uh to do the job that their Non-marketing Department suggested they Would do see see Bitcoin The Entity Never promised all of these crazy crazy Uh uh utopian type scenarios I think Some of the utopian scenarios are Awesome they're they're Beautiful uh Concepts and possibly I Could even agree they will happen the Question is time period when I read a Time Horizon when I read satoshi's paper I don't see any footnotes there it says This will happen 12 days after the Launch of this idea I mean it doesn't Refer to time at all but I'm pretty sure It ain't going to happen in Mar Mary Yeah and and uh you know we're here
Because of a problem from Decentralization this is going to be a Bit of a Critical perspective but decentral Ization has some real serious issues With it one would be there is no Marketing message because there's no Marketing Department so guess what's going to Happen now Black Rock and vesco are Going to spend 30 40 50 hundred million At every rugby match soccer match TV Show Super Bowl match and they're going To Market Bitcoin to 46,000 ultra wealthy amilies and 60 Million millionaires they don't care About the rest of you guys okay you Can't even get into their portfolio Okay Fidelity is not going to offer most of You guys the opportunity to even Participate with them which offers a Whole section of people there there's Going to be a whole piece of the Anarchists that want to do things Differently there'll be plenty of people That want to self- Custody and then there'll be other People that will feel much more Comfortable having Fidelity custody Their products and then if they do Something wrong they can sue Fidelity uh But they don't want to go to their own Family office and go gosh I have 11 of My 12 seed phrases they're in the
Backyard let me go dig them up okay that That's not the way a family office with A billion dollars operates that's right Um dude I think this is awesome I mean Like like we didn't regulate ourselves We created a circus here another problem With d centralization there was no one To send notes to fire right we had four Different tribes all selling in a Different in a very different way Um and like that's why centralization is Valuable centralization is very very Efficient decentralization is not Efficient it it may be uh it's not Efficient in terms of pulling a bunch of Data in and being able to consolidate That Data um and I love the benefits of you And I being able to trade oneon-one like I've got some silver I'm not going to Sell that back into a central Authority Dude I'm gonna sell that to somebody That gives me a slight premium for my Physical silver create some issues I got Now I got 800 900 million dollars worth Of silver sitting over there I've got Security issues now you know there's Some no different than me self- custody In Bitcoin I have security issues if Somebody comes in and wants to lift my Silver gets past the guns the dogs and The security system they're probably Going to get my silver but I look at the Silver and go gosh you know is this
Going to bring me more utility or should I move this into this new digital Money um I don't think this gets Smaller yeah I I I agree with you don't Think it gets smaller okay this gets Bigger yeah on once the once the drip Drip drip comes like people forget you Know it takes it took Visa Mastercard Brad 52 years to get seven credit cards In everybody's Pocket okay they advertise everywhere Okay they own soccer in Europe they own Everything every advertisement they Could and they make monster margins and It took them 52 years to gain a monster Position in the plastic Market um That's the type of adoption we're Talking about right and that's it's Going to take some time and I think That's the good news yeah yeah no I Completely agree you know you uh uh Again there's a lot of really great Points of what you're talking About let's let's go with the idea of Where we are today and these companies As you talked about the fidelities the ARC Investing the you know the uh uh Other big you know Black Rock and Everyone invest and everybody else is Coming out here and getting the Approvals for these spot Bitcoin ETFs when we look at this I mean first Of all you know there's a remarkable Point that we are we are one of you know
This group of people that are in crypto Is still a small number comparatively to The world so when we think of that and All of us in this space we're literally Front running Wall Street we were here Before they got here and now the money's Coming in but there's a part of me that Were you know obviously you know there's Good and bad there's pros and cons I Mean yes this is what adoption looks Like uh the spot Bitcoin ETF is going to Bring an enormous amount of awareness For other investors that are scared to Be in this space I like you do not want To bury my crypto or my thumb drive and My cold storage in the yard I didn't Want to store my Apple stocks printed Out in a safe either right you know I Want a custodian and insurance and be Insured and if it's a problem the Liability is on the insurer right you Know that's what I want and uh that Feels good to me and then I don't have To worry about somebody breaking in my House and trying to steal my thumb drive And harm me or my family you know um That's just my take on it but I want Others to have that right obviously if That's what they want to do I don't want It to be just one way but looking at Where we are in this space and seeing Wall Street come at this Bitcoin this Way I I wonder what does this look like Because I tend to believe that Bitcoin
Being introduced as an ETF product and We've heard Congress talk about uh Stable coin legislation possibly in q1 Of this year and if that happens I have Two big red flags go up at my house one Is yes it's great we got the Bitcoin Spot ETF but I also see that as a Potential Hedge for the Legacy firms Finally getting to expose this ass asset To their clients in case they have some Kind of 30 40% correction in the Traditional stock market this would help Hedge it if they put two to 5% exposure In their portfolio then I look at stable Coin creation I look at problems with Inflation should inflation continue to Run out of control and the FED can't Stay on top of it if that were to become An issue stable coins could play a very Vital role outside of just being an on And off rant if we experience High Inflation or even hyperinflation at some Point in the future you could see stable Coin serving as a very desirable product Because it's always going to be a Digital dollar which would require any Issuer the stable coin if you're running A two to one 3 to one or more in a Hyperinflation scenario to hold that Surplus and you still have a digital Dollar you don't have three to one in Your pocket anymore what a great Incentive to push everybody into a Digital should this come it almost looks
Like there are these things that are Being set in place I almost look at them Like little uh like dams you know like To help absorb the shock of this Monetary system changing because we Really are truly changing to a new Financial System yeah look just a little something On the stable coin um first off I think It's grossly misnamed okay we should Call this a linked coin there you go uh Just like they Peg the pound sterling You know I've had for 30 or 40 years I Spent 15 years in England when I went Over there the UK pound sterling was 176 to 176 to the US dollar so you get A176 for every pound you get you you Have and that now is 124 127 the euro is 103 is for 40 years I've asked economist And Central Bank banking people anybody That would you know listen to the Question why does the UK pound sterling Trade at a premium to the US dollar no One no one has ever answered that Question they do really weird things Like well Gary why why do you think There's a premium I'm like what the [ __ ] Are you talking about dude there's Absolutely a premium premium yeah I have To pay $1.76 for every pound and now It's 127 this country has no none of its Own production it has none of its own Production of food water or energy yet It trades at a premium to the US country
The US that controls all the currencies On the planet and everything's tied to The US Dollar I actually think stable coins Should not be called stable coins and They will not be stable if the US dollar Like we're just basically call this is Another Peg it's an artificial freaking Peg man well that's right that's all it Is it's a madeup Peg and they won't hold Yeah well it's interesting because to That point I believe you know look I Don't know whether look I certainly Believe we're gonna see some kind of Correction in the traditional markets And I look at history to see that most Administrations in office will try to You know underpin the economy as much as They can doing whatever they got to Promise Peter to pay Paul the whole Thing you know just to get past the Election and then everything goes to Hell in a hand basket and it would Appear that we're probably GNA see a Scenario like that in 2025 and 26 right So it but the question is always yeah Yeah right yeah exactly right yeah gotta Get past that election right you know But you know the funny thing here is is That we don't none of us can know how Far that'll go right like how deep of a Slide is that going to be is it going to Be off a cliff is it going to going to Be a dip we don't know but that's why I
Say like I I feel like seeing Bitcoin be Introduced as an investment product Outside of what the white paper was Originally designed to do is the Legacy Firm seeing a way to get access to it But more importantly be able to Potentially hedge what kind of Correction they know is coming for them Because they were down on it for over a Decade and seeing stable coins be Introduced knowing full well as much as I don't like a digital dollar uh you Know understanding stable coins can be This sponge to soak up these dollars Coming back home everything has to be One to one or a surplus if we were to Experience any kind of heavy Hyperinflation they could be two three To one to make that dollar a dollar but The ones in your pocket are worth 30 Cents that is a great driver to move the Masses into a digital world that know Nothing about this space because we're Already here Gary so it's it's pretty Remarkable to me this moment that we're In because this is is about traditional Markets being tokenized and you leaned Into that in the first part of our Conversation today this is the larger Part of where we're going crypto is this Big of a market it is the traditional Tokenization that I'm here for and I Believe it sounds like you are as well And finding and identifying these
Projects companies and tokens that may Have the opportunity to solve a problem For filling that gap between the Traditional markets and this new new Revolution we're moving to yeah I I Think look I think you're totally Correct I think the reason Larry thinks Here is not because of Bitcoin he wants To tokenize all assets yeah and look the Truth Is Um most 72% of Americans own a home and They shouldn't yeah okay this was a Banking scheme that was run on everyone In the 50s and the only reason that real Estate my brother and I have this not Argument but the reason real estate goes Up is because the dollar is devalued Year over year over year people don't Understand that they still believe I had A uh ran into a woman that couldn't have Been more than 35 years old Radiologist and uh she's like hey I'm Going to go buy a house you know and I'm Like why would you buy a house I mean She believes her parents someone told Everyone that buying a home was a cool Thing and it's horrible she is never Going to own that home yep she if she Doesn't pay her taxes she doesn't own it She's got to take care of it she's got To maintain it you know instead of Having a meeting with me she's got to go See the plumber these are all things
That are expensive okay they and and so Like I own two homes I shouldn't own one And I'm probably the only guy that Should own the bloody home out of a Thousand people because I can really Afford one but I it's a bad use of funds Yeah especially when you have an Opportunity to invest in something that Actually is finite and it can really I Mean if you look at what my house cost Me and we go back and say hey Gary could Have deployed that exact same money or Even less into Bitcoin uh I'm living in a $42 million Home based on that and like I I love my Home but I it is not worth $42 million But that is effectively the opportunity Cost that I spent to live here and I can Sit here and go well gosh I just didn't Know and I'm a dumbo $42 million versus Eight is a m okay I might be able to Sell this for 12 to 14 and make six 8.6 Going to 14 42 million is a very Different trade strategy than you Know 8.6 that I have to to pay interest For uh that also have to fix the roof I Have to ensure it's $150,000 to ensure a year assuming the Insurance is available my taxes continue 175 Grand on Taxes um I've got to have somebody out Here $1,000 a month just to fix the yard Make everything look nice and clean and The bigger these properties the more
Energy they take um if there's a problem Here you know and I'm on holiday gosh I Got to hire somebody to come in there And fix a window because it's raining Inside the house there's just none of These issues exist with Bitcoin or an Investment that's generating a yield Yeah so I would say even if you're not Doing Bitcoin the better investment Would be to go into apartment buildings Rent an apartment and then invest with Somebody that buys apartment buildings And can provide a yield and that yield I Do that like I get 40 Grand a month in Yield uh from uh real estate Investments I I didn't take those distributions and Put them into Bitcoin or into distressed Real estate that's going to pay me a Yield over a long period of time so the The world's I think the world's been Poorly educated and the cool thing about Bitcoin is Bitcoin is really helping People understand money and currency Different things man oh it's a great Point Gary and to that point you know I Want because this goes beyond what you You know what you're into and it starts To touch into the idea an understanding Of what you do with your gains once you Win right and that's really a great Conversation that usually stops short of Of being had by most people so I'm Really glad you brought this up it is Something I do touch on in our private
Group quite often is what do you do After you get your gains and if you're Taking your gains from your winnings in Crypto and you go spend them that's some Dum dum stuff right there right because You need to take those gains and go put It into the hard assets that are going To give you a return then you can live Off of those gains those constant Returns of those gains don't go just Spend your winnings I mean that is a Poor man's plan right there right yeah And and I think also that people aren't Really taking into impact the the you Know I mean we're gonna have to go back Here a little bit on our earlier Conversation yeah but you know the other Philosophy that bitcoiners had and I use The word bitcoiners really Loosely I'm Not trying to smash any one sure um I Think the other theory was well you know This is a tax-free Event and it's like hey guys you live in The United States of America like I don't know where you Heard this was a tax-free event now Satoshi talked about peer-to-peer I Didn't see him saying hey we're going to Do in runs around the US government and The Inland revenue and we're not going To pay taxes I didn't read that in the White paper did you no no it's not I Could see how it could be interpreted That way
Yeah um but I'll tell you and to me this Is a real big warning to Everyone what has happened in the last Two months with FTX in particular CZ Binance The I would say the embarrassment of the Guy that is running gbtc Barry being Being uh basically asked to Barry cber Did not just unilaterally decide to Leave the business okay that is not a Good day for him so somebody cut a Deal um if you were doing funny naughty Deals on binance five years ago and not Paying taxes I'm pretty sure you should Be really really really really nervous Right now because that customer list has Been Surrendered people gonna oh 1,000% right And they're already starting to go down The rabbit hole I would be so nervous Right now I do not know what you guys Were Thinking playing on on the Blockchain and uh nobody said anything About anonymity okay like I I don't even Know how this got pitched correct this Is the least Anonymous place you would Ever want to be uh to do something Naughty um that's going to disrupt so Many people there have been so much Money made that no one less than a Million people out of 52 million have Paid any tax to the US government on Crypto and I don't know if you know this
But all the ETF stuff all the fby rules They all came with the tax rules right And we literally now have people going Hey look you should be able to move more Than $10,000 worth of bitcoin without Having to report like why dude you have To report on $10,000 worth of bubble gum Okay like it's ridiculous okay like to To Think that we have to report on Everything if I go into the United Kingdom I have to sign something I'm not Bringing more than 10 grand in Here um and if I say no they have the Right to confiscate it and and hassle me I don't think that is unfair if now you Can go argue the $10,000 rule is wrong You're never gonna win this argument Okay it's been in place I don't care Yeah like good here's 10 grand file it Do fine um so look you you're not going To be able to do wallet transfers and Avoid taxes It's not you need to leave the country I Would Suggest um and you know it should it's Very telling that a Chinese National Voluntarily came back to this Country walked into you know security Surrendered his CEO title agreed to a $4.3 billion do fine which is A basically one box of cigarettes out of A whole carton I mean that's done let me Right Jack please I don't think he does
Any time and Uh but but but they have the entire list Okay so this is now going to become a Very clean Business can't keep being run on the Edges and why we thought it was a good Idea to warn everyone that we were the Great chogan horse that was going to Take over the US dollar complex I don't Even know why you would say that if it Was indeed your strategy yeah I mean Well you know let me let me let me poke The enemy in the eyeball 17 times They're taking they're taking the Biden Uh uh you know Playbook yeah let's go Beat up Russia right let's go make Putin Looks stupid it's like well that didn't Work very well because he's looking Pretty smart right now yeah there's no Question I mean he has avoided Everything Russia's stronger today than They were before the conflict and that's Just and they've obious skated Swift in The process so it's uh to your point but You know you you make a great point in 2019 I met Chris John Carlo The Honorable Christian Carlo former Chairman of the cftc now the co-founder And head of the digital dollar project For the United States this Is this is remarkable that you bring This up I met him at Bitcoin Miami in 2019 Gary and when he walked up to me They had this giant dollar they had hung
From the ceiling that was half burned And they were down with the dollar it Said right and I bet Chris and he turned Around he said whoever put that sign up Needs to take that sign down right Sleeping now and I was like oh yeah Because I understand that too that may Be attractive to the younger kids and They think that that's like wow that's How powerful Bitcoin can be understood The argument there and the point made But all you're doing is putting a Bullseye on the back of the technology I Have said from my channel since day one When I hit the scene here I have said They can't stop the technology this is True and a million people understand That but you know what they can do they Can tell you I'm GNA find you $250,000 If I catch you using it if I get you Haircuts dinner I don't give a [ __ ] what It is at five years in jail or $250,000 F whatever they decide to do on it Because that's how they handle [ __ ] like That if I can't stop the tech then let Me catch you using it right so that's The last thing you want to do is get a Regulator or a government on the wrong Side of you feeling like we can't have a Conversation about this Innovation but Now I have to be defensive and try to Kill you because of the Innovation and Yeah that's just been the wrong approach For so many years which is why I'm
Excited in one side of me for these Products to be introduced on top of Bitcoin but knowing Wall Street and These Legacy players Gary I come back to Okay all right now what's gonna happen To bitcoin when wall Street's done Playing with it because if they get done Playing with it and throw it on the Ground like an empty can of soda they Don't want no more that's going to take A lot of money back out of this space And it's going to look like it lost all Its value but the Tech's still There yeah see I I'm not worried about Them throwing the can out they have too Much to gain from this um the ETFs are Too big Well yeah I mean look this is Real you have less than I think you have Less than 20% Of any family office that has real Wealth less than 20% of the people Probably not 12 or really in this space Yet right there is look I think we're at Peak consumption people talk about peak Oil and Peak all the dude we're at Peak Consumption like like think about these Super super wealthy people that have Three airplanes 14 Villas 32 girlfriends Uh you know like an almost small armies Right 44 different Rolexes you get to a Point like I'm a fairly wealthy human Being you get to a point where there's Just nothing else to buy yeah like I can
Only have so many bloody watches I mean I don't have a I don't buy a lot of that I have one car yeah I see buddies of Mine that you know they supposedly worth A lot of money they do a lot of debt and They got 12 cars dude and every car they Have it's like dude you had to lease That one too you lease that one and They're not leasing because it's smart They're leasing because they don't have The cash right $199,000 Range Rover I Mean these are you know guys that are Living over their skis in my Opinion um but I I don't I'm not worried About them first off Wall Street can do Whatever it wants to do I have the right To leave this country yeah and like I'm Not going to leave it because we voted For somebody wrong I'm not going to do That um but but if you start messing With my rights my votes and my money It's not difficult for me to get on a Boat and move on yeah I don't want to um But I'm starting to see people consider This now as an option that they had Never considered before Just to add to that like 88% of this of Bitcoin is not being controlled by Americans yeah so you can play with this If you want government but it needs to Be an open market and I think you're Going to see that the market will come Around and treat Bitcoin as the asset it Is because it is so unique um and I kind
Of like the idea of having the ETF Um because I think one it opens up a Cadre just a a massive wall of funds That will participate in this whether It's this year next year I mean you can Just see the way they're marketing the Product today that's right it is so Different than the max Kaiser Announcement you know and by the way It's not the young guys that are Pitching this okay that's right it's the Guys that bought 10,000 Bitcoin at $1 they have made all their money and They're just they're just stirring a pot I don't think it's helpful okay I I you There isn't one industry that doesn't go Through this Innovator kind of Barnum and Bailey Ringland Circus hey blah blah blah you Know get all the attention and then as It matures the messenger changes Substantially you know the the like I'm Too much of a Messenger once an industry is evolved Five six seven years you probably need To replace me as a messenger uh because I'm a disruptive messenger I'm going to Come in here and drive margins and Efficiency in the market now when the Big boys come to town they don't Necessarily want to hear o Gary they Want to hear a more polished you know This is just playing the game man just
Just getting people I mean just Vanguard Doing what they're doing you know this Is a rig game okay absolutely no doubt About ity and they will they will exceed Their capabil okay these people always Go too Far Yeah so yeah so I I agree with you Gary You make a fantastic Point there's a lot Of demand here and it's just getting Started let's let's talk about this idea I mean you see ETFs I'm sure for other Projects and tokens coming in the future As well correct oh yeah yeah what I see Okay go ahead I I I Think I mean I'll be surprised if the Ether uh ethereum ETF is launched in May I don't I think gendler is going To really fight That uh there problems there at how that Ico went down right there's huge Problems there so I definitely would Like to see that accountability happen Right I I'm a believer that these Digital Assets in large part are not Securities right and that you could Still launch things in the form or Package of a security obviously and I Believe that's exactly what happened to Ethereum even though I believe the asset Itself is not a security but it was Certainly an initial coin offer in the Beginning and I would expect or at least Hope that Gary will come out and bring
Some accountability to that Network Because that was assembly token line Right you know they were just assembly Factory just shoving out projects on top Of projects after getting a free pass Gary I mean it's like what in the hell I Mean my dear friend uh the xrp go Digital asset investor actually broke Open eth gate and then I helped him Launch that initial uh shock until it Really you know that that initial Information and then when it really took Hold and people caught it on social Media the the influencers and stuff out Here the slle the Twitter slle they Really got a hold of it and went down on It and look it's not to be a maxi Because of that work and effort that was Done by Dai or myself or the hundreds of Other SLO that have been out here now That have really brought us a Whistleblower like Steven nof right Shout out to Stephen but I I bring it up because that Is the history of this space right and In fact I don't know if you're if you're Aware of this but you know uh Satoshi Nakamoto has been identified by the Department of Homeland Security by Special agent ra sead I don't know if You're aware of that information I'll Send you that clip so you can watch it It's a few years old they actually Interviewed uh Satoshi Nakamoto she said
It's four individuals this is a special Agent at a conference talking with and In front of the secc the cftc and the IRS at a conference right and I'll send You a link to it so you can hear that And check it out it's quite interesting That there's that but these agencies Still act like they don't know who this Is it think of this for a moment we're Watching all of these products be Launched on top of this but let's forget The video that I told you about where The special agent says this how do how Do we know that Bitcoin and Satoshi Nakamoto wasn't launched by some bad Actor like Russia or North Korea how we Don't right and where is the Accountability on these things because It did it's not This Is Not Gold that You found in the ground right this is a Code that was created and we have to Understand that there is some Vulnerability here because you know the Only asset that I'm aware of in the United States that has legal Clarity not Regulatory opinion Clarity legal Clarity Is xrp is in and of itself not a Security Now still a question and open Conversation about what it actually is If it's not a security you know um but That's exciting in itself too but we Have regulatory opinion from Regulators That say Bitcoin is a commodity and Ethereum is a commodity we've heard the
Cftc C SEC set and that's an interesting Point and I don't push back on it other Than I want audience to be aware that The legal Clarity is not there for those Two things even though we're watching All of this happen right we're watching The billions and billions of dollars be Launched on top of ethereum's network Which was largely controlled centrally By JP Morgan in China right and then Most of the minor for Bitcoin were in China and then bit bit deer or bit M Came here and became bit deer or bit Main from China and now they're like the Largest Bitcoin minor in the United States but they were kicked out of China bit was it bit deer I think it's Bit deer now here they used to be bit Main in China they mine every day 24 Hours a day it's what they do and then They sell everything every day every day At the end of the day whatever they mind They Sell that has always been a little bit Of a concern to me too Gary because I'm Like well wait a minute if you're Believing in the long ball on this thing Wouldn't you want to save some of what You mind for down the road a little bit Knowing that you believe in the Long-term go of it but I understand They're miners right but it's just There's these because this is a new Emerging asset class we're here for
Something that people don't get to see In once every four or five lifetimes Gary yeah that's that is a fact Uh remarkable 10 lifetimes oh yeah like I think this is a once in a century Event um look the miners the reason Those guys are selling so much is their Debt load is so high okay they're not They're not generating enough cash to Pay for the business they're probably Still in debt there's a few of them that Are starting to go okay I'm able to pay The debt off um I mean this is the Theory why the price has to double if You you currently have 900 Bitcoin being Mined and most all those Bitcoin are Being pushed in the market to generate Cash to pay off the Debt um which is the only reason they're Doing very few are holding those coins On on the market but you know a lot of These guys set up debt agreements three Years ago and they're upside down yeah And they can't get new debt I mean hard Money debt right now is 15 to 20% hard Money not what the FED says yeah see The fed's numbers are [ __ ] it's like Hey why don't you tell me what the hard Money can I borrow $100 million what's It going to cost me I have collateral And you can't even get a bid from anyone Yeah um so the Market's very Liquid uh the miners has not been a Great business I'm just now starting to
Look at the mining business right um you Know I think the miners that made all The money were the guys that stole Electricity in the first place yeah Because they were Passing the cost right hey look at me I'm such a hot shot but they're stealing You know they're stealing from the Utility yeah um and selling and Mining Bitcoin for 300 bucks well power prices Were exactly the same when it was 300 Bucks so I I do I do think that Bitcoin If we only have 450 coins being mined These people still have the same debt Load yes so that price either needs to Go up or you're going to have a the Minor are going to get crushed oh that's Such a valid point that is such a valid Point Gary you could see a lot of miners Get squashed out after the having if They can't live the fight another day if They're producing half as much as they Were the day before and their debt Load's not out of the way this that Could be a very very interesting Conversation but you're right the price The price has to double the price has to Go up from some level maybe it's 30 I I Think I think 165 to 30 was about Getting all the Bad actors out of the Way so people are saying well the price Is going from 16 to 42 it's tripled Because of the ETF no it hasn't tripled Because of the ETF it got back to 30 or
275 after you got rid of every criminal Every SPF every binance I mean basically That happened before the ETF why because We're in the politics everybody was Going hey we need to put all these guys In jail before we approve anything yeah Um now you know you go to the the your Your comment about ethereum being a Security or a commodity hey it looks Like a security to me it smells like a Freaking security and it is most most Definitely not decentralized yes that's Correct yeah for sure if Decentralization is one of the Categories for Commoditization which I don't even know Why that would be but you don't treat The oil companies that way exactly um I Don't think any of those things are Commodities but xrp is a I mean it's Going to be a technology that allows the Institutional Bankers to basically use That switch for high volume transactions But that's not a commodity no like That's a that's a bloody security dude It looks like a stock to me it doesn't Look like um but because they set up as A token this may be the issue I mean I Hate the token business because it's Kind of Like you know you guys want to raise a Billion dollars for a new Business and all the Insiders get the Juice right just for sh up to work yeah
Just for coming in early right you know I totally get it Gary maybe not even Coming in early and and their whole time Their whole time is less than a year man Okay not even coming in early D like There's no the responsibility then then You start looking at hey what what would Have like I don't own any ethereum I Know everybody's telling me ethereum is Going to rock and roll a 30y old kid Runs the show dude like me it's like Whoa yeah you know where he is they can Send him a a notice of ceasing toist They can send him Audits like I love the idea of a like if I'm going to do that I might as well Just go invest with Visa because I know Visa can put up with it all yeah can Spend the money to defend themselves These small companies can't yeah that's A fantastic Point man um you know it's Funny what you bring up about the idea a Lot of these things look like Securities To you is that you know during this case When this case was going on with the SEC Versus Ripple obviously was a heavy Conversation on his channel you know we Were forced to look at the Idea um of of being a bond designation Right because a lot of these products Look like a bond a bearer instrument to Me is what they look like right and in Fact for those in the audience that are Not aware you know Bearer instruments
Are essentially like uh bearer bonds Really were outlawed in mid late 80s uh Here in the US because you couldn't Identify who had them and people were Using them for great tax avoidance right So they were hiding their wealth in These bearer bonds right and then nobody Knew it as long as you're holding it you Own it if I drop it on the ground you Pick it up now you own it right so that That's kind of what this is you find my Thumb drive you own it right you know That kind of a thing so it's just like a Digital Bearer Bond instrument is what It looks like a lot so it's hard to say If this conversation is truly over and You know when it comes to the spray Space broadly and something I wanted to Uh say about that is I've often thought Because we saw the SEC Sue Ripple over Consensus Federated bantine agreement And that process that they use I expect To see ethereum become a Target because Of the way they IED for one needs to be Dealt with and held accountable number Two it's proof of state that a proof of Work that went to proof of stake so There's a technology there then there's Proof of work that needs to be dealt With that could be Bitcoin it could be Lquid it could be something else it Could you know something with proof of Work but the point is is all of these Different
Technologies of how they compute and Solve become where you fit in a legality Bucket that's what I see happen they Target one of these particular kinds of Technologies and then they're going to Sue it and get legal precedent one way Or the other and then when they get the Main coverage of these things dealt with By a regulator in the courts then you're Going to see the legislation come out Based on the precedent set by these Rulings that's that's what I see taking Place your thoughts yeah I think I think It could be uh very much like that um I Don't really think it it impacts the User so much is [Music] The uh I mean I just think people are Putting investments in things they don't Even understand like there's just no Clarity I'm I'm surprised that they're Doing that but I'm pretty certain that High net worth individuals families are Not going to invest in these products That have so much uncertainty like like You need to get some Clarity um I think the piece people Forget somebody that's worth aund Million dollar doesn't need to do Anything that's right they're not going To die if they don't get on the xrp Train yeah and Cobble it all up tomorrow Morning like my brother's like bro like You know people like you should move all
Your investments into Bitcoin he's like Sure dude I spent 35 years building a Multi-billion dollar portfolio and I'm Just G to turn now and just turn away From it all right you know all your Knowledge all your work all your effort Everything you've done and you're just Gonna turn away from it and you know one Of the quickest ways to lose money and Go broke in this world right is to is to Change lanes and to get out of the lane That you got totally right tot more People lose money changing lanes yes sir Getting greedy thinking hey look I'm Going to go fast realize uhoh [ __ ] There's a reason nobody's in that lane I Just got in a Wreck it's true man it's true I mean it Doesn't mean that you need to get in the Longest Lane but that's um I see so many People get out of their Lane it's I Actually I'm thinking about building a Business course and one like it would a Key operating principle would be you Know danger of what I call the the the Uh glittery Glittery object syndrome yes in these New businesses man there's always Another idea oh look at that look at That look at that look at that you know And then you go chase it and then you're Off your core Perspective uh trying to do too much you Do too much and then you provide too
Little exchange for your counterparty And they get pissed off at you um Because you just didn't have discipline Your base thesis you know my base thesis On big Bitcoin did had nothing to do Whether they there was an ETF or not Right zero and my base thesis is not Changed and in fact I would say that I'm Probably now starting to look to um this Is going to be the next buyer of Bitcoin Bro it's going to be the Bitcoin holder Who now invest in the ETF how weird that we're going to go Into the ETF watch I'm GNA look at this Go [ __ ] I think the ETF might outperform Yeah it could yeah I could I could see It because it's safer they don't have to Settle every day absolutely settle every Day they're gonna be trading this book Like a monster oh 100% I can see that Gary I think that's a fantastic point You I can call up my broker I already Have an account there double me in get Me heavier right all of that stuff and Then you get this big big because they Have the they have the structure of Investor protections built inside of the ETF offerings right so they feel like They can get all of this exposure with More security and investor protection so Why wouldn't it take off right I mean I I I totally see that happen look I mean To your point look at gold look at Silver look at oil all the paper
Products that are introduced on top of The asset are five to eight times L Larger in size than the actual commodity That's traded underneath of them right Yeah big big point there big point I Mean look there has there ever been an ETF launched in the last 100 years that Failed no not I'm aware of some of the Competitors but we we have gold we have Silver we have the same thing with gold They're gonna come and take it they Don't want you holding the gold on your Own Books Okay we come find them all Dude yeah okay that's like saying you're Gonna go find every weapon in America Homes I mean good luck on that one yeah It it's just not even I actually think I'm going to start really looking at Maybe I pay the fee to somebody and Invest start investing in the ETF if you Start thinking that way you and you Realize wow no ETFs have ever been Launched and just Failed like maybe there's one or two Winners but that's interesting I I bet That the Bitcoin world is going to go Away because we got Black Rock in it no The Bitcoin world is going to expand Yeah no that's a fantastic Point Gary Let me ask you because I know that we've Been at this a minute man I love talking With you I could just continue on and One day I got to come down I love Florida I got to come down there and
Just see you we'll hang do this at your Joint love to have you man oh man it'd Be great uh But it's not a fair thing to ask but What does this market look like to you Three to five years out from now what What are you Seeing uh I think that uh I mean Everybody wants to talk about price but Five years from now I could see Look good Um I could see a 5x on the price in in Four to five years uh I don't I don't See the price sitting here doing Nothing um if it does Nothing and the US dollar continues to Degrade in value or the eggs that I have To buy at the store continue to go up in Price I may actually be okay with Bitcoin just staying where it is okay Just like I was in Gold I I'm not Massively upset the goal only move from 2008 to 2023 by 800 bucks wasn't a Massive Return uh but people like me don't pick Tops and bottoms I'm not a professional Trader I'm an Investor um I think the time Horizon for Most people in Bitcoin is stupidly Sharp they're using too much Leverage and the way I know that is Because you know when they have a real Estate holding with my brother they're Not looking at the stock price every day
Because there is no stock price that's Right there's that that's the beauty Behind real estate it's really not very Discoverable of what your own investment Is worth you don't get a margin call Ever uh you might breach covenants and Have to puke that asset up because you Didn't you don't have the right debts Structure but you know look they're Going to flood the market with US Dollars yes and and if they don't start It'll be because China flooded the Market with Yuan and if that did wasn't Enough then the Euro will flood the Market with new nuclear dollars so they Can Nuclearized busted up I mean they have No energy they we somebody blew up some Pip lines and now the United States is Selling electricity and that gas to the Germans at about 400% more than the Russians were Doing oh their bills the United Kingdom the The Joe consumer in the United Kingdom has doubled 200% their Bill my God how's anybody making it ger Germans are striking man okay they're Saying hey knock it off we're paying $2,000 a kilowatt That's 4X what they were paying uh and You're telling us we can't work and You're telling us that like and we have This immigrant issue migration Issue they will Riot I mean I I predict
This year I was making a funny with you About hey we're gonna have an election I Predict this year either Europe or America or both are civil massive civil Unrest where you have people doing crazy Things well you know Yeah it's something to be said to your Point too Gary no doubt about it I mean If things go too hard one way or another You know you're G to see good people do Bad things and that's a that's a damn Sad commentary because when good people Start to do bad things youve really lost A foothold on a society's you know uh Basic fundamentals for sure yeah yeah Well I mean they're just trying to Survive right and and it is the Governments that have put all this in Motion these people you know you got 20 Million 12 to 20 million people leaving The Ukraine they're women and children Yeah who's going to feed them yeah who's Going to hous him where's the water Going to come from and by the way that's Before we get to the assimilation Problem of putting a bunch of people From Eastern Europe or further into a European complex that has never Assimilated well that's right it's Horrible assimilation in Europe I mean It's not worked um and so you're seeing All these Draconian 20th century constructs come In from people on top saying this is
What we're going to do it's all going to Break yes okay because this is this is Why I started the show with you the way I did I just moved from disruptive event To to disruptive event the actors always Behave exactly the same yeah doesn't Matter what the industry is oh natural Gas electricity crude oil payments Credit cards or Bitcoin see they're all The same people with all the same Consulting firms and they're holding on To analog and so if they all do the same Thing in every disruptive moment and It's never ever worked before this one's Not going to work either in fact this One will fail more because those other Markets that went through change they Happened in Western countries they Didn't happen in China there's no Visa Credit cards in China man their adoption Rate for Visa and MasterCard looks like This yeah [ __ ] off we're not doing Business with you okay and then China Can't come here because the regulator Protects Visa Mastercard with some Bizarre Rules um so this is my long-winded way Of saying hey the world is changing and The players that came into this they're Not changing they're trying to hold on To what they used to understand and the Systems that were built for that old Analog world man this is like putting a Ferrari on a Farm Lane and on gravel and
Saying hey and you know don't go more Than 20 yeah well the Ferrari isn't Going to run well at 20 okay it needs to Run at 90 and it's but it's not going to do Well on the platform it's there's G to Be so much friction and and that's what We're seeing so I'm very confident that Technology will win the day transparency Will win the day the only thing that you And I need to really really be careful Of is that we're not censored yes if We're censored it's game over man oh Gary I mean well you hit it right where It is it is game over and to that point Uh our channel here and uh digital asset Investor who I mentioned earlier just a Month or two ago was victim of being Censored for no rhyme no reason on ex's Platform I have dealt with censorship Issues on YouTube's platform I have Learned that you got to be a good Communist if you want to learn how to be On that platform because there's certain Topics you can't even touch without Getting the artificial algorith that Algorithm and artificial intelligence Will pick up on a thumbnail a title Something you said they'll go for a Keyword that AI goes across you and next Thing you know your money's jacked up It's Unbelievable the kind of systems that Are in place through our main hubs of
Communication and sharing information on Social media and YouTube so Gary what a Great point to finish on I want to final Thought this thing uh to something you Said Earlier which was uh people often Overestimate what they can do in a year But underestimate what they can do in Five maybe 10 years and you had spoke to That more so pointing about the actual Space and what people think will happen In a year versus five or plus years and I just think that's something to really Leave this conversation with is that There's so many young investors out here Or even if they're older people but They're in this space because it's high Risk and they're trying to make up for Not investing for the last 20 30 years Of their life because there's a lot of Those people in this space too right and I hope that they understand that really Drill down on the things that you're Invested in really drill down on the Things that you believe have a chance to Disrupt and grow because we are for sure At a place in time where we have put Ourself before Wall Street we have put Oursel before the growth of an industry But you got to do the work to make sure You put your money in the right rivers Make sure you got the Nets in the right Place Gary your Thoughts yeah the way the way I would
Look at this is uh investing and Understanding this space shouldn't be Fun when I hear Guy saying hey look at This crypto thing this is fun it's like Dude this is not a playground okay this Is not a date a one night stand this is Your Investing For wealth generation And the people that say hey isn't this Fun or hey you're you you know trading $1,500 on xrp for a$ four four four Cent Swing guys that's not trading okay go Get a job yeah go get a job and invest In the ETF like you you know these these People come on and they have an opinion And it's like well me and my brother Well how much Bitcoin do you own dude oh I can't tell you that man really well You just told me that I should invest my Entire net worth in the Bitcoin but You're not willing to tell me how much You have convicted with your own you got $1200 dude that's what you're you're Embarrassed to tell Everyone um I mean some guy that speaks On Mario spaces the other day going you Know this this bitcoin's a piece of [ __ ] I'm like bro you have like less than $10,000 on bitcoin like why are you even Talking about it unless you're jealous And you missed out or I don't know what The deal is and if you believe that why Are you even putting your 10 grand in it Yeah uh but look it shouldn't be Fun long-term investing in fact I'll end
This way I gotta do another one of these In 10 minutes but you know the you know The the greatest investors in the Fidelity Fund uh do you know who those people are You know the old Peter Lynch uh Fidelity Fun right Yes the greatest invest s in the Fidelity Fund are dead People they died with the fund open they Made no changes 20 years later they made More money than all the smart Traders Trip Traders tax harvesting players dude They just kept rolling so I think There's something to be said for that if Your time Horizon is correct and your Allocation is correct you should never Be panicked over Bitcoin yeah you it Does not require you to look at the Chart every day you own a house that was A bad investment but you do not look at The price every day and constantly go Should I liquidate my house should I Liquidate my house you shouldn't have Bought the bloody house in the first Place uh but you're in it now okay I Think you make you make money one time On your real estate and that's the Moment you buy it if you bought it right You're probably going to make some money If you didn't you're going to get hosed Yeah um I don't I think you know the Bitcoin scenario on a finite
Supply I mean look I can build a case Dude the etf's going to be worth a lot And having your own physical Supply that Will trade at a premium one day a Massive premium whether we're going to Be around or not to be able to enjoy That premium um that's a different story But the only other thing I would say is That people that can invest in Bitcoin But they like this space you should be Looking at getting into into the Industry with a job there are millions Of jobs for employment here and it Doesn't require college Education it doesn't 18y old person can Pop into this game if you can read write And show up on time like I I could hire 15 people right now yeah okay now you're Not going to get paid 200 Grand to learn Something yeah you're probably gonna Have to come in as apprentice but that's An awesome opportunity that people Aren't talking about more so than the Wealth generation just over the coin It's like an intellectual wealth uh Event that could happen over three or Four years so to me that's the greatest Opportunity oh what a what a remarkable Point you can become a field General in This space you know if you get in as a Ground infantryman right now with the Knowledge that you have in this space You could find employment you're Absolutely right Gary that is a
Fantastic Point never stop working on You while you never stop investing in Your portfolio and yourself and your own Life no question about it Gary C ladies And gentlemen Gary don't go nowhere Thank you for being here I hope to have You back real soon and I want to talk to You about something really special as Soon as we end this right here thank you So much thank you thank you love being Here man thank you thank you
