OffZero with British HODL | Episode 5

Welcome to OffZero, the Podcast from the team at LearnBitcoin.io. Hosted by Keith Laska, aka Professor ₿. We strive for an informal and relaxed atmosphere so that you can learn about Bitcoin topics comfortably.

Today, Professor ₿ had the pleasure of interviewing British HODL. In this episode, we cover the monumental impact of the SEC approving Bitcoin ETFs and how it will drive the next leg up for Bitcoin. British HODL explains why volatility may dampen as institutions enter the market. He advises getting to at least 1 full bitcoin this cycle before prices potentially soar out of reach. We also explore Bitcoin’s digital gold narrative, how self-custody provides ultimate security, but ETFs will dominate for convenience and yield generation, and why corporate bitcoin allocations will pale compared to asset managers plowing in.

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Where to find British HODL:
– X/ Twitter: @BritishHodl

British HODL’s Charity Choice: https://www.realbedford.com/donations

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This is off zero brought to you by learn bitcoin. hey everybody Welcome to off zero the new podcast from the team at learn bitcoin. where any topic is welcome as long as it’s Bitcoin I’m your host Keith laska and I’m joined today by British hold which is really really exciting uh

British hold I’m sure you’ve heard of him but he’s a passionate bitcoiner on X uh whose sole purpose or main purpose purpose is to get everybody to one Bitcoin before this thing takes off into the stratosphere uh he’s an outspoken advocate of both Bitcoin and the Bitcoin

ETF so British hold welcome to off zero absolutely my pleasure thanks for having me sweet so everybody who joins the podcast uh we we donate uh on behalf of to a charity and you’ve chosen Peter McCormack’s charity uh for the Bedford football club Grassroots football so we’ll be donating right after this

Podcast uh to that charity thanks so much for naming them appreciate it now thank you for making the donation they’re doing good work over there they certainly are and we obviously got some good news about Peter uh today which was which was awesome to hear you want to

Tell everybody about it from what you know or very proud of him he just got Vindicated in uh in court uh in his lawsuit against Craig Wright so yeah he’s won you know that’s good Supreme Court has ruled in favor which is fantastic um good stuff so listen first

Thing I think a lot of people want to hear about uh there’s just an insane amount of news uh with Bitcoin the ETFs that have just launch the uh pending having and of course the desire and the hope that everybody gets to at least one Bitcoin uh before the end of this year

Tell us a little bit about what you’re thinking with the market yeah I think the market right now is so every we were expecting well a lot of people on Twitter were expecting there to be a straight candle to heaven right um as soon as this thing launched I was like

Somewhere in the middle because I made a prediction a couple days be like I’ve been talking about it since Black Rock applied and all of everything I said was correct up until the last two predictions I made right before the approvals came in which is I think we’ll

Get $3.5 billion of net inflows in the first week and if that happens then a $57,000 to a $62,000 price point the point that where where what we’re facing right now is we’ve ented a sell the news event which if you look at some of my other tweets and videos I basically said

There will be a selda news event because I wasn’t expecting Market to close it to be approved and then trading the next day before Market opened right so it was a sell the news event um and really what we’ve had here is people who are number one selling emotionally because they

Just don’t like grayscale they wanted this money free for a while etc etc and number two people who have been forced to sell like FTX uh etc etc and then on top of that we’ve got miners who have been you know riding this runup that they’ve had uh and they’re liquidating

As well so we’ve got a a a a a crash between you know a sudden rapid rise of Supply on the market and you know consistent ETF algorithmic buying and so in that when that happens you’re going to see a drastic drop in price uh until that Supply gets chewed up by that

Algorithm and then we’ll start going heading up what what’s the estimate for how long it’s going to take for who knows how long Barry’s going to be selling but how long is this bleed going to happen and by the way I’m with you the fact that we’ve sustained around the 40K levels

Given all of the selling is indicative of how popular these ETFs are going to be and how bitcoin’s going to be yeah but any any idea like when’s this going to end so two days ago I put out a tweet and I said I think we’ll see the gbtc uh

Bleed slow down and we may even see a net inflow day into gbtc within 3 weeks okay and a day after that the net inflow started trending down and today JP Morgan’s come out and just said that they believe that the selling and the profit taking on gbtc is pretty much

Done so we’ll see um but you know I think it’s going to be relatively soon uh you know in the grand scheme of things but as we go into and and by the way just because that outflow is done doesn’t mean the supply has already been

Chewed up so we still need to get that excess Supply chewed up and then the price can start climbing absolutely there there there are a couple theories kind of floating around Bitcoin Twitter right now that say um the price of Bitcoin is going to be less volatile

Because we now have these ETFs and we have potential options ETFs that are going to be approved uh and and I think the worst case scenario for a Trader and the best case scenario for an investor long-term investor is that it just slowly grinds up yeah you know literally

Month after month and just doesn’t give any any relief to kind of day Traders or or scalp Traders but it just kind of grinds up due to the supply being soaked into these ETFs do you prescribe to that or do you think there’s still going to

Be a lot of volatility I I think comparatively to real estate in the stock market there’s going to be a lot more volatility than those but I think it’s going to be significantly less than what bitcoiners and Bitcoin Traders have been used to so someone who’s coming

Into it from the real estate background is going to go what the hell is going on here but someone who’s in it from a Bitcoin trading background is going to go oh this is over right it’s it’s going to be an infusion a conf you know an inflection of those two attitudes and

Then hopefully they just move to a holdal position and and they don’t go down the um shitcoin rabbit hole right and and waste I’m a capitalist right so I believe that everyone has the right to make and lose money whatever you want to do so it’s uh whatever they whatever

They feel like doing they can do obviously for me you know the right methodology is huddle uh for the long term and you know understand what what it is that you’re actually buying compared to just trying to trade absolutely on based on fundamentals there are very few things out in the

Market that have uh strict fundamentals like Bitcoin has and has built over the past decade and a half um interesting now just a question for you so so it’s when the ETF news broke I was expecting and we have received a lot of interest from financial advisers and wealth

Advisers to learn more about Bitcoin I expected expected the floodgates to open dramatically and every everybody to rush in and say we need to get educated and then I turn around and find out that the largest broker dealers like Raymond James marol Lynch Bank of America and others have literally placed this ETF

Even though it’s approved by the SEC it’s been blessed uh on the restrictive Securities list and uh you know they basically have it hasn’t passed AML yet is this going to go on for a while are these games that are being played or is it a matter of time before the

Executives that these companies look can see the demand and say we got to open this up yeah so I mean I got a phone call from uh someone who works um in in an advisory firm and you know if you look at the time that I put my video out

On that it was like an hour before everyone else realized that Vanguard was was was blocking this whole thing so um I got that phone call with this a hysteric advisor basically saying they’re not going to they’re not allowing us to fulfill any orders I don’t know what the hell’s going on I

Have like so it was yeah look at the end of the day just because the SEC is a approved it doesn’t mean an you know an institution has to uh accept the risks and the volatility that comes with it now the good work that will happen now

Is the people at Black Rock the people at Fidelity will be calling their calling their Brokers up calling their people up and letting them know that this is safe this is a safe product here’s what our modeling shows us here’s what the ideal allocation should be in a

Portfolio and all that’s going to take time no you know I was saying this for a while like no one’s going to bother teaching about a product until they can make money with it right right and so now unfortunately again that whole getting approved and then trading the

Very next day in the morning like caused a little bit of friction if there was a month between approval and trading all of this would have been dealt with because they would have had time to educate their advisers and everything else and they haven’t had that so yeah

It’s going to take some time to educate people it’s going to take some time to go we literally went in a in a onewe period from Bitcoin is used for criminals to the SEC Black Rock Fidelity all selling Bitcoin like yeah so that that time that emotional time you know

That education Gap is going to needs to be filled with with with an intern kind of turn disabling two Factor authentication in the middle of all that as well yeah imagine that imagine that um okay so I’m a bit of a conspiracy theorist and and you know my view is that uh the

Bitcoin ETFs are being restricted for other reasons apart from from just being on an AML list or being a restricted security for a period of time but I think you’re right this this was almost rushed into the market before that kind of deadline that Arc uh invest deadline

Uh more than anything but you know I think as a bitcoiner I kind of see this as a blessing I think in your first Bull Run you kind of get nervous with with price fluctuations I think after you’ve been through a bull run or two you get excited every single time there’s a

Suppression of price when you know there’s demand down the line yeah um at the end of the day you’re looking at an asset that it’s the only asset in in in the world that can scale to every single person in the world and has finality of scarcity right it’s the only one we

Don’t have anything else there is no other asset that can scale to every single person on Earth and maintain its scarcity not one it’s interesting you said the word scarcity I remember a presentation from Michael sailor I think it was BTC Prague where he he listed um you know Fiat currencies the stock

Market and Bitcoin on an XY access chart and it was time over scarcity uh and and the message that rang true for me was hey look every financial adviser tells you to take your money out of cash and invest it but then they tell you to put

It into the stock market and it’s all denominated in Fiat dollars so you’re still losing money just a little bit more slowly um Bitcoin is truly scarce it’s the scarcest asset in the world uh and therefore you know as as that bubble grows as as Pierre rosard would say in

Speculative attack that 2014 article as the bubble grows and starts to suck in more Fiat in a limited Supply asset like Bitcoin we could see fireworks we could see explosion in price yeah do you prescribe to that too yeah I I think that the the one model quote unquote

That will break over the last that’s been going on over the last few years is this idea of diminishing returns you you cannot have di you cannot have diminishing returns continue when you’ve 10 xed the demand potential like the last Bull Run no matter what anyone

Wants to say about it it was probably like 25 to $35 billion of capital that made that happen go from 3500 at the low to 69,000 at the high right like the ET Black Rock making a 1% allocation of their current AUM involves a hundred billion do

Purchase they got 10 trillion manag it’s crazy right so that’s just black rock so so all of this all of the everyone you know everyone’s going on about you know oh my God there’s uh you know black rock is putting all this and the price is going down their their fund is worth

$1.8 billion that’s 0.018% of their AUM and most of it’s coming from grayscale I don’t even think they’ve started allocating any Capital yet right and you think they’re going to get to a reasonable 1% basically my entire philosophy of when I said okay I’m going to you know dump my entire

Gold position I’m going to start focusing on bitcoin I realize I screwed up and and misunderstood Bitcoin and pivoted towards it was this 1% of assets on management will go into Bitcoin and if that happens you’re looking at a $5 million Bitcoin it’s interesting I was I

Was chatting with Fred Krueger a couple weeks ago on on the Pod and and he believes that Bitcoin could get to somewhere between $500,000 to a million dollar per coin within the next say four to six years 3 to six years um but he then went on to say that he believes it

Might kind of find itself in a in a in a decade long recession uh after that period of time because ultimately that Bitcoin will no longer be the shiny new coin you know AI will will have really grasped the world at that point in time there’ll be other things for people to

Focus on um do you prescribe to that that theory that that Bitcoin will hit a peak and then kind of hover for for a period of time or or are you more of the it’s scarce it’s limited Supply there’s going to be constantly more demand and therefore it’s going to keep going up

Forever Laura right yeah I mean I I I agree with most of uh Fred’s thinking um I disagree with that one point because I I think that you cannot have an asset that has finality or scarcity in an environment where I mean do you think the us is going to stop printing money

Over the next six years I don’t think so so in that environment the question is is at what points do you do you reach Capital saturation inside of the asset right and I just don’t think that happens when you’ve got an if to huddle actually goes up because if I and and

Also the type of buyer that’s now buying now is different to the type of buyer that’s been buying for the last 10 years so yeah I I I disagree with that I I don’t think there will be a some there may be a some point where we might see

Some Capital saturation uh hit Bitcoin for a number of years but I don’t think that happens in in the next you know 10 years what do you think um what do you think is going to get a financial advisor or wealth manager who’s not already exposed to bitcoin off zero for

Their clients what’s what’s going to be the Catalyst do you think to get them to go from I’m not touching it to we need an allocation yeah listen look if any if there’s any financial adviser watching this that needs to understand why they need to get their clients into Bitcoin

Go look at the leaked report that came out of Black Rock where they did an internal study for their internal private clients alongside launching their own internal gbtc style structure years before the ETF came out so go look at that study and their own analyst basically dict that the perfect

Allocation of uh in alignment with risk and reward is 84.9% Bitcoin and the rest split between stocks and bonds so so go look at that firstly and then understand how bitcoin’s price function works it’s it’s a step it’s it’s compounding at such a level where the fees that you

Will be earning as a financial advisor for recommending the product are going to compound at the same rate as the Bitcoin is go is going up so if you get a million dollar allocation into Bitcoin and year one that the fees that you’re earning in year four year five and year

Six are now going to be like on $10 million it’s not a $1 million growing to $1.5 million that 1 million like with real estate for example it’s a million doll allocation growing to $5 million in in in four years growing to $15 million in in in eight years and then you’ve got

You know your percentage fee based on that so financial advisors need to understand two things number one what type of fee you’re going to get based on selling the product and number two are your clients going to be happy and safe and I don’t think anyone is going to be

Upset with a 1 to 10% allocation in an asset like this especially now that you’ve got ultimate career coverage because now Larry Frink is talking about it yeah absolutely anyone says anything just blame it on Larry he is the president actually he’s he’s he’s the president everybody knows

That um and what about what about like there there’s some split opinion in the community uh a number of people think the ETF is fantastic to get access to to bitcoin you don’t have to worry about self- custody memorizing Keys you know multisig you just kind of buy it in 5

Seconds with your brokerage account and then there are others that are are building up Bitcoin rails in the community for people who want to self- custody and and want to get direct exposure to bitcoin where do you fall on those two schools of thought I personally I think you know obviously

The best solution is self cust because then you actually have custody of your own assets Bitcoin is also the first asset in human history where it is a scalable asset it can scale to more than a hundred trillion doll market cap and you can actually maintain self- custody

Of it right so that’s also a unique part of Bitcoin however personally based on all the experience that I’ve had I think the ETFs will be the preferred way to own uh Bitcoin within the for the next 10 15 years I I don’t I don’t there’s

Obviously going to be the the cohort of people who just believe in self- custody and that’s fine but when if you are an you know you’re a high net worth individual and you’re faced with the idea of okay I want to own $10 million of Bitcoin and generate liquidity on it

And you go to a Bitcoin only company that’s lending against Bitcoin charging you 12% interest versus you go to your broker account and black rock says will’ll loan you loan it to you at I don’t know 4% Fed rate plus 50 basis points there’s not there’s not a choice

There right because if you want to remain competitive in the competitive in in the financial world you got to take the lower interest rate so there’s a lot that’s coming here plus the fact that you can do up you will be able to do options on the ETF Bitcoin basically

Turns into a cash flow generating asset at that point without a doubt yeah people selling calls against their positions you know and and generating really need to pay attention to like how important that is no one’s talking about that because if it wasn’t important the very first thing that grayscale did

After approval of the ETF was file for a call ETF that’s the very first imagine that you go through this entire fight you’re approved now and the very first thing you do is file for another ETF with covered calls on it why would you do that it’s because you’re now opening

Up the possibility of income funds coming in you’re now open and the beautiful thing about income funds when it comes to bitcoin is that it’s the same asset everywhere in the world I don’t need to go look at property in Miami and then wonder what do I do in 5

Years when New York is now okay again right like you you you don’t need to worry about that it’s the same asset in Miami New York Singapore Dubai Australia like it’s the same asset everywhere it’s interesting so it’s almost like uh B Bitcoin self- custody might be an

Insurance policy for for high net worth right I’m always going to carry a couple percent on a hard drive somewhere as a safety mechanism right but apart from that I’m going to access the the traditional system and what they’ve provided me in terms of exposure yeah you you talked before this was months

Ago but it stuck in my mind about uh when you would would ever loan against your your or borrow against your Bitcoin and you had suggested at the time and I don’t know if your thoughts have changed that you would wait for a retracement to the 200 day moving average and that

Would be oh two was it 200 week moving average okay 200 week moving average and that generally speaking of course no Financial advice there but generally speaking for you personally is an area where you’re willing to risk because you believe that’s that’s a a pretty strong

Kind of base for for Bitcoin I would feel comfortable you know now that you’ve got black rock rails Fidelity rails coming on board with taking a 25 to 30% LTV on my Bitcoin at the 200 we moving average and doing something else with it right um anything else other than that just

Sounds ter you know it just it it it I wouldn’t want to take that risk with what the asset is yeah I mean as they always say if you don’t know where the yields coming from then you are the yield right and uh it was interesting I

Was teaching a a class at forom uh last night and I had this slide up there talking about the dangers of of these kind of um uh lending practices that kicked off in the last Bull Run and on the the screen was Celsius um Voyager uh

You know anchor earn blockfi and I just chuckled and laughed for for the in front of the class and I was like I’m sorry I can’t visit any of these websites to show you the dangers of them because they’re all bankrupt they’re all done um they’re all completely done and

Unfortunately I know people who personally lost money uh you know in in those applications I wish they had spoken with me before they decided to venture into that but and it’s a shame and I feel bad for those people that have I had people who spoke to me in

2021 and I said this doesn’t make sense you’ve got an asset that’s compounding at 80% a year and you want to risk it for 82% like how how does this make any sense in the world and they still went ahead and did it and now you know the

Conversation is is terribly sad right but I can’t do anything besides say I told you so yep yeah so um what do you think the Tailwinds are for Bitcoin right now what’s the excitement uh if you kind of summed up three or four points but the Tailwinds kind of uh

Pushing Bitcoin to its its next uh next new high what would it be yeah I mean the ETF is the is the single biggest Tailwind that we’ve got remember what happened with the gold ETF right like it went gold ETF happened and then gold went on a 350% run over eight years and

That’s a that’s an asset which whose Supply can completely control I can’t control the supply of Bitcoin right so that’s a that’s a huge Tailwind the Tailwind that that I find quite interesting is the fact that black rock Fidelity and all these advis all all these uh um firms are going to start

Educating their advisors BlackRock just announced today that they have a webinar tomorrow for their advisors right so they’re going to start now educating their advisers on how to sell this product make it give it you know the it’s okay to sell this product etc etc

So there there is going to be a lot you know there’s going to it all of the the institutional world coming to bitcoin is really what the Tailwind is for the next four years everything else is completely irrelevant no one none of these private Equity firms are going to take any major

Risk on any other cryptos you know we’re not going to see an ethereum ETF in 2024 um there’s there’s there is just all this focus is going to if you want to be involved in the digital quote unquote crypto space you are going to be owning a Bitcoin F and not anything else

Um everything else will have a lot of risk attached to it you’re going to have Larry fin out here talking about Bitcoin every single day as soon as the price starts moving up it’ll be on every homepage of every website this is you know this is the single most I’ve said

This is the single most important event for Bitcoin since bitcoin’s Inception um and then we’re not even talking about you know let’s say you’re a big you’re a big multif family office or a big company that wants to you know allocate $500 million right what are your options your options are equities treasuries

Gold right commercial real estate it’s about it pretty much now if most people were doing commercial real estate that’s why property prices were going up but think about it now let’s say you are a multifam office in Singapore that wants to get access to us commercial real

Estate the only choices that you have for Lending purposes the the Monopoly is Banks in the US if a Singaporean Bank wants to get access to that lending facility they need to set up a whole damn team in the US to to make sure the

Property deal is a good one to make sure that you know to make sure the risk profile of their investment is going to be safe whereas with Bitcoin as long as I can send a transaction on the blockchain I don’t care where you are in the world I have the ability to lend

Against it because you’ve just proved you own it right now obviously for for for for bureaucracy purposes it’s going to be a little bit more complicated than that but that’s in essence that’s what it is if a if a m multi family office buys $500 million worth of bitcoin and

Then wants to generate liquidity on it to do other things with it’s a matter of phone calls it is call JP Morgan okay what rate do you want to give me they’ll give you 5% okay call Singapore okay what rate do you know what rate do you

Want to give me we’ll give you 4% call London no we want the business we’ll give you 3% people are really not thinking about what this does in terms of you know I think Ral pal mentioned it first like this idea of pristine collateral that you use anywhere in the

World at the exact same time so there’s now a lot of use cases coming out for Bitcoin and then you add in the options side of it we haven’t even spoke like no one’s really talking about that the options part is Big because you can now have funds that are strictly designed to

Give you income going and lodging in tens of billions of dollars into Bitcoin just to generate that income and with the Vol with the volatility on the asset you can make your 1% a month using options on it while maintaining the upside tail upside return on the asset

Which you can’t do with anything else so totally you can sell out the money call options on on bitcoin so far out the money and maintain a 1% return per month and that’s all they need yeah absolutely so yeah there is a lot of um a lot of

Institutional Tailwinds here as far as I’m concerned the the the quote unquote pleb and the what I like to call the $10 a month DCA gang members they’re irrelevant now right and this is why been trying to shout like as as much as I can get to one Bitcoin because at some

Point this is going to happen and now it’s happened so now we’re going to start pricing out the low singled digigit millionaires to getting from to one Bitcoin and then the next cycle it’ll be the hopefully the you know the higher single digit lower double digigit Millionaires and that’s what that will

Just continue to happen here and I I love the the concept of getting to one Bitcoin I would say though because of the divisibility and and and free markets at play anybody can access Bitcoin whether it’s one Bitcoin a quarter of Bitcoin tenth of Bitcoin whatever it is it’s it’s believe it or

Not I get that question all the time people still believe that they look at the price of Bitcoin at $40,000 and they say I can’t buy Bitcoin I can’t afford $440,000 they don’t know you can buy $2 a Bitcoin or $3 a Bitcoin but I think

Your point being if you want to generate uh at least lifelong if not generational wealth you need to get as high as you can with exposure to Bitcoin now like immediately yeah um and by the way the ETFs the ETFs destroyed that unit bias because now if

You if you are an investor and you got a Robin Hood account I can go and buy 50 shares of the ibit fund yeah so unit done at what point in time I’ve noticed ibits kind of leveled off a little bit a lot of these these uh ETFs have leveled

Off a bit have we are we finding a floor do you think right now are we in the process of finding a floor I don’t even think they started allocating Capital like I think that if I was like just taking a wild guess if I look at Fidelity and black Rock’s

Inflows they just look like gbtc outflows to me like I would be surprised if there is a net allocation of more than $500 million between the two at this point so yes I think we’re reaching a floor price here but now they’ll actually start allocating because think

About it if I’m if I’m the adviser for all of our Black Rock clients and then I call you and you’re the ETF manager and I say what is the order book looking like and you tell me oh there’s a ton of selling pressure in the market don’t

Worry about it I’ll call you when when it’s done because we have different roles right even though we’re both Black Rock we have different roles my role is to get our 10 trillion of AUM into the fund and your role is to execute the ETF yeah so but that doesn’t stop us from

Talking to each other so if you call me one day and say okay cool all looks like all of gbtc selling pressure is done and the sell books are are drying up now that’s when I’m going to start sending you my couple billion dollars that I

Want you to put in for sure so I don’t even think they’ve started putting any capital in like I think it’s less than $500 million probably anybody with a a low time preference is going to wait right they’re going to wait for the market to find itself and and then start

Allocating uh can you tell us anything if you know about it um the fby guidelines and fby rules uh in the United States what’s that means for for corporations or companies yeah B basically what it means is that Bitcoin be treated as you know an any pretty

Much any other risk asset it used to be treated on accounting for accounting purposes like an intellectual property asset and now that’s changed so now they can actually Mark to Market on a quarterly basis um and it’s much better for balance sheets right now smart investors can overlook this but the

Retail money needs to see the share price go up in order to realize that the thing has value so I don’t know what that’s going to do I’ve not been really that bullish on it I think Michael saor is a Pioneer and I think he’s going to

Be a oneandone situation um but you know it’s great because now a company can put you know a single digit percentages and and I think that’s where it will stop I think companies will look at allocating up to four or 5% uh and that’s it but remember the top 500 asset managers in

The world control $130 trillion worth of wealth and their boss is Larry Fink right Us corporate treasuries is like A7 trillion Doll Market it’s nothing yeah so at this point it’s irrelevant if I was a if I was Apple I wouldn’t be looking at putting a significant amount

Into Bitcoin because then I’m just basically admitting I have no idea what to do with the money yeah why would I do that you touch touch on this you mentioned it a couple of minutes ago and and I don’t want to spend too much time

On it but I’ve been getting a lot of questions about it you mentioned that you don’t think there’s any chance of an ethereum ETF getting approved by I think what with the final deadline for for one of the applicants is is May some some period of time and black rock has

Obviously filed for uh an ET f as well what do you why why do you think that is I I just don’t think there’s appetite for it at this point from the SEC I think they’ve been beaten up quite nicely so I you know I think they’re

Going to push it out as long as possible and by the way Black Rock acknowledged this right Black Rock came out and said we don’t think that uh no I think they said something like this is going to be a long hard road so that’s my signal to

Go this ain’t happening yeah yeah okay interesting um I guess final question that I had for you you mentioned sailor a oneand done so you think there are going to be no other companies that are have either gotten in early enough or or are going to attempt to do what what

Michael sailor has done um do you think the history books are going to look back on him as a you know a small genius for for what he managed to pull off yeah I think Michael saor is is a genius like there there’s no doubt about it he is

Like that move was so powerful um but I don’t going forward now it was a very powerful move when there was no tier one Solutions as far as I’m concerned right now there are tier one Solutions tier one solution to me would be an ETF right

Or self custody but the ETF is here now so now you look at that and you go okay well how many extra layers of risk am I adding on by deciding to own micro strategy and then what are the potentials for trading at a premium or a

Discount and on the 28th of December I put out a video and I said I won’t be touching it because it looks like there’s a 40% premium to the underlying Bitcoin to me and then guess what happens the share price dropped 40% in the next 15 days so to me it’s like as

An investor if I want and micr strategy is a great leveraged play on on bitcoin but if I want a leverag play on bitcoin I’m going to prefer holding the ETF liquidating 5 or 10% of that and buying call options with it for two years that’s going to give me the leverage

That micro strategy is going to give me without the risk of Premium or discount on the on on the underlying holding so yeah I I don’t know what happens there I think over in the long term it’s going to be extremely profitable but now that you got professional market makers in

Place if you see that Trend down to a 10% discount you start buying it up if you see it Trend up to a 10% premium you start shorting it like it’s just the mar the market efficiency takes over at this point for sure there’s are opportunities all over the place there um last

Question for you if you had a microphone and you could speak to the entire world population and tell them something in 30 seconds or less what would you tell them like anything or Bitcoin guess I’m wasting my 30 seconds now listen ultimately there’s always no matter like what you’re thinking about you know

Whether you want to get into this or not you’ve got an opportunity to own the hardest scarcest asset Humanity has ever created and if you’ve got a million doll property portfolio and you can’t bring yourself to make a $50,000 allocation I don’t even know whether you deserve that

Million dollar property portfolio or not at this point but ultimately despite everything that we’ve spoken about despite what everyone is talking about the demand and Supply Dynamics will always work and therefore there are only three rules to bitcoin it’s step number one you buy Bitcoin step number two you

Shut the up and step number three you get fabulously wealthy British hold it’s been fantastic having you on with us thanks so much appreciate your time and uh we’ll look forward to talking to you again soon my pleasure thanks for having me take care learn more at learn bitcoin.