In this episode of Halving Report, we delve into the intricate relationship between Bitcoin, democracy, and safety in El Salvador, contrasted with insights from Costa Rica. Joined by guests Ledgerjedi and the anonymous "Orange," the discussion spans from the political climate in El Salvador to the unique encounters with Bitcoin communities during travels. Here's what to expect:
00:00 Political Situation in El Salvador
00:51 Election Process in El Salvador
06:10 Encountering Bitcoin Communities in Travel
06:31 Meeting Bitcoiners in Unexpected Places
07:57 Costa Rica vs. El Salvador
09:52 Safety and Power Outages in El Salvador
11:36 Authenticity and Genuine Experiences in El Salvador
15:10 Bitcoin Beach Having Party
18:48 Bitcoin Price Predictions
25:12 Impact of Bond Yields on Bitcoin
29:36 Max Payne and Price Appreciation
32:52 Closing Remarks
Guests:
LedgerJedi (Jonah): A key figure in the Bitcoin community, Jonah has immersed himself in the heart of El Salvador's Bitcoin revolution. From the vibrant streets of El Zonte to the corridors of political change in San Salvador, Jonah's experiences provide a unique perspective on how Bitcoin is reshaping economies and societies at the grassroots level.
Connect with Jonah (@LedgerJedi):
Average Orange: An expert in energy trading and the innovative use of Bitcoin mining to enhance grid stability and profitability. Average Orange breaks down complex energy trading strategies and how Bitcoin mining can be integrated into various industries for increased efficiency and profit.
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Connect with Halving Report 🎧
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In this episode of Halving Report, we delve into the intricate relationship between Bitcoin, democracy, and safety in El Salvador, contrasted with insights from Costa Rica. Joined by guests Ledgerjedi and the anonymous "Orange," the discussion spans from the political climate in El Salvador to the unique encounters with Bitcoin communities during travels. Here's what to expect:
00:00 Political Situation in El Salvador
00:51 Election Process in El Salvador
06:10 Encountering Bitcoin Communities in Travel
06:31 Meeting Bitcoiners in Unexpected Places
07:57 Costa Rica vs. El Salvador
09:52 Safety and Power Outages in El Salvador
11:36 Authenticity and Genuine Experiences in El Salvador
15:10 Bitcoin Beach Having Party
18:48 Bitcoin Price Predictions
25:12 Impact of Bond Yields on Bitcoin
29:36 Max Payne and Price Appreciation
32:52 Closing Remarks
Guests:
LedgerJedi (Jonah): A key figure in the Bitcoin community, Jonah has immersed himself in the heart of El Salvador's Bitcoin revolution. From the vibrant streets of El Zonte to the corridors of political change in San Salvador, Jonah's experiences provide a unique perspective on how Bitcoin is reshaping economies and societies at the grassroots level.
Connect with Jonah (@LedgerJedi):
Average Orange: An expert in energy trading and the innovative use of Bitcoin mining to enhance grid stability and profitability. Average Orange breaks down complex energy trading strategies and how Bitcoin mining can be integrated into various industries for increased efficiency and profit.
🚀 SUBSCRIBE for Insightful Analysis 🚀
Connect with Halving Report 🎧
🙏🌟 Thank you for tuning in to the Halving Report! Want to keep abreast of the latest in the Bitcoin world? 🚀 Then SMASH that SUBSCRIBE button NOW! 🔥
The Matrix attacked the far right attacked your internet connection.
Speaker 2:They're all over me, bro. I shadow banned on X for a while. We are now on this big situations.
Speaker 3:Korean and the Canada Secret Service.
Speaker 2:Ceases over here. So I was just saying like, yeah, we've seen some criticism of democracy from politicians in the United States. Of course, you know something that we're expecting with the Bitcoin adoption down there, but you know, is it worth diving into? You know not that I'm caught. You know I don't want to cause flood around the popularity and support Boopkelly's getting, but is it worth looking into how their elections are held? You know, are they using machines? Is it all by hand?
Speaker 2:Like I don't really know anything about a great question, like in El Salvador and like what kind of civic participation we see. But maybe we could get some boots on the ground with Jonah over there. Do some really cool part. Yeah, man.
Speaker 1:So I'm really fortunate because I wouldn't know, I would not have any clue about this, except for my fiance got selected as one of the volunteers to assist with the voting. So she's actually over there right now in her hometown assisting with the voting process, and so I have a vague idea, not a, not a. It's not, you know, tight, not perfect, but I do have an idea of how it works. Basically, there's a very simple pamphlet that is given out at the voting office and it's just got the photo of the representative as well as a photo of their party's you know logo, and so you know, for Bukelly it's got his face and then it's got just the letter N with a blue background for new ideas that's the party name, new ideas and then they just they can basically do anything. They could black it all out, they could write an X over his face, they could do whatever they want. It's very simple. They could circle it. It's just they select the image of who they want. And, man, if you look at the polls, it's really incredible. These pollsters who have been against Bukelly historically but they have some journalistic integrity, they're not lying they were surprised when they did the poll to find out that Bukelly had a 94, if I remember correctly percent of people, not just approval, but like people who said they were going to vote for him. And then the second second place my man was this guy, chino Flores, which translates to Chinese flowers, and they like to use that as this little meme he's got 3%, 3% of people, okay. And then fourth place has like a quarter of a percent, or third place has like a quarter of a percent. So it's just not even close.
Speaker 1:But the voting system is very simple. It's very organized. They don't allow illegal immigrants to vote. I'm not allowed to vote. I'm not an illegal immigrant, but I'm also not a citizen. Yet it's very concise you have to have what's called a DEWI, which is a DUI not driving out of the influence. It's your basically your social security number or your sin over there in Canada, and you have to verify that you are who you say you are and have your ID with you. And man, you go and I can send you videos after the fact.
Speaker 1:There's just lines. People are there six in the morning, the voting stations aren't even open, the booths aren't open and there's just lines, blocks and blocks and blocks and tens of thousands, of hundreds of thousands of people just filling up the streets, just so excited to vote, because they want more of what is happening here. And do we need to look into? Is there some form of corruption or authority? Yeah, you do. Come on down here and talk to some locals and just ask them. That's what I did and I'll tell you right now. These people love, absolutely love Bukele. I mean, if they could, they would have King Bukele forever. Now, that's not how the system works, but they will certainly certainly go ahead and vote him in for another five years. And to just add on to that, those same politicians in DC who are talking so much shit about Bukele in our election and saying this is a threat to democracy are saying that, while my president has 84% approval ratings, 94% of people said that he was going to, they were going to vote for him.
Speaker 1:And on that same weekend, a senator posted all that nonsense about how he's a threat to democracy. There was something like 60 carjackings in Washington DC. Guess how many there were in El Salvador? Zero, absolutely zilch, none, okay. And that's because we have a leader who is actually accomplishing things. What's Biden's approval rating? I don't know. We should go check the local ice cream parlor and find him and ask him. Okay, he's probably drooling over some ice cream. It's just projection, right? If you look at like Sigmund Freud. He talks about how people, when they've got like this internal cognitive dissonance, they project what is inside of them on other people. And that is what is going on. And Bukele, my leader, such a freaking bad ass man he you know what he says when they posted all that nonsense about how he's a threat to democracy. Here's what he said. He said I'm so glad, I'm so glad that you're going to come at me just two days before my election, because I'd be really concerned if you were on my side. And that's exactly, that's exactly right.
Speaker 2:I would be concerned if they were on my side. Even in the short time that I was in El Salvador, everybody I spoke to. Maybe I'm biased because I'm speaking to a lot of Bitcoiners, but we're big fans of Bukele when I was there. I want to pivot to Mr Orange, because you did a little bit of traveling after El Salvador and I'm wondering if you encountered any other Bitcoin or cryptocurrency communities.
Speaker 3:I did encounter one guy when we were climbing you know what is the name for this when you do climbing in the trees and zip lining and stuff like this. Okay, yeah, and I talked to him and we basically exchanged two sentences are you into Bitcoin Call storage? Ah, yeah, gotcha. And then everything was said because we knew from this point we are in the same level and you don't need much more discussion. Right, that's the basic principle. He got it, I got it. Yeah, that was like, and we were both surprised that we met like somewhere in Costa Rica, some random spot, and he said he never met a Bitcoiner in the wild before when he was in the USA, where he came from. But he goes to Costa Rica to some holidays and he just meets.
Speaker 3:So yeah, it's like a very it's a very international thing going on, and that's why I encourage a few. I mean, you always have to decide is it better to put money into my stack or put it into traveling? But I encourage you to do it at least once, because a network that can come from this is already invaluable for me, and I think it will just increase in value, because you have to imagine if you meet other Bitcoin individuals and the net worth of each of us increases, how we project. I mean, what can we do in 10 years if we agree on something?
Speaker 1:right. I have a question Costa Rica versus El Salvador. What's better, el Salvador?
Speaker 3:definitely Boom. What's up? Even for tourism, even for tourism already right, because in Costa Rica tourism works on an industrial scale, so you feel like a product that's getting processed she cattle and yeah, in El Salvador it's more organic somehow the whole experience Like people don't make up things to make you happy, they're legit the way and they're legit happy. I love that.
Speaker 2:Yeah, I know, and that's it means a lot, because everybody I always talk to always goes on about Costa Rica and how it's so beautiful, it's one of the safer countries down there, this and that, but El.
Speaker 3:Salvador. Let's not say we had one experience. We drove to this Manuel Antonio National Park and we already read on in the internet before that there are people pretending to be police officers or park officials trying to stop you, put you onto a parking lot that is free and try to charge you money for it. And we drove there and even if we knew it in advance, you know when a person appears in a uniform. You basically don't ignore this person and drive by. So we stopped, open the window. The person said yeah, do you have your ticket? You have to park here. It's like a fee. Blah, blah, blah. And then four people came out of the woods and Blocked the road and then I told him my buddy, okay, let's go drive. And there's one person even had like to jump away from the car. Stuff, don't mess with the Germans.
Speaker 1:I Mean he would have run over this person probably and I can't imagine you guys dealing with that, because just knowing you guys, especially those two, that must have been quite the situation.
Speaker 3:Yeah, it was kind of like it took us like maybe 20 seconds to understand what was going on, even if we even we knew it in advance. So from a safety perspective, yeah, and also when it comes to power outages, we had a power outage there as well, as we had an a Salvador, and it was like in the morning eight o'clock and suddenly we heard like a big bang. It sounded like when you explode a big tannister of some gas and the power went out. And I was jokingly saying, oh, looks like some animal jumped into some power line. And then, sure enough, we asked the Dude who ran the hotel and it was like, yeah, some, some monkey jumped onto, onto some part of the electricity supply. And it was like and this was the only day where the jungle was awfully quiet, no much.
Speaker 1:I think they were like traumatized moment of silence for that brother yeah wow, john record. El Salvador is better and safer. And yeah, you did say that people think that one of the, costa Rica, is one of the safer countries in South America. Maybe it is one of the safer countries, but that's the thing about being second best is you're not the best, you're not first place. And it just comes back to the great Michael Saylor. He says there is no second best.
Speaker 2:You want to come to.
Speaker 3:Latin America, you got to go to El.
Speaker 1:Salvador, because there is no second best, so much more authentic. It's not industrialized, like orange was saying, it's not, it's not lame, you know it's. It's so organic, it's so genuine, it's so authentic and you just feel it when you talk to the people and they give you the experiences and you connect and you make friends. It is just so real and it's so powerful and so moving and I know that you both experienced that I never leave it.
Speaker 3:I met this guy I'm also sip lining, who also worked in another energy company, a huge energy company in the USA, and I talked to him about, yeah, we were in El Salvador before and it was like what you did? Go to El Salvador, oh man, you're so brave, you're so brave and I was like why, why? Why, it was totally normal, it was safer than here. He was like what I have this employee. So he basically is I think it's probably rich, because it's like five employees working at a villa Somewhere in USA and one of those guys comes from El Salvador and he says, yeah, this guy from El Salvador always told me that it's very Unsafe to go and I shouldn't go to El Salvador. And I was like, hmm, looks like he wasn't back For a few years, because I think the situation you have to keep in mind, the situation change very rapidly now. Salvador, so many Salvadorians outside of the country still, it seems to me, don't know how it changed 100% and they're learning.
Speaker 1:They are learning. There are videos because in America, for all of the Salvador citizens who are also dual citizens of America, in a bunch of the big cities there are these voting stations that have been set up for them to be able to go and cast their vote and they are lining up in droves to go vote for whoever they're gonna vote for night buckelle for sure, but whoever they're gonna vote for. And they are learning. But what I found is that a lot of them probably don't know, because I Was thinking that this change for the violence happened maybe like four years ago, like me and Brad had a conversation with this local guy and I was asking him. I was like, hey, you know, has it changed a lot in the past four years? And he says four years, try one, try one, and that's I mean. So that gives gives you a perspective of how fresh this change really is.
Speaker 1:It's still has yet to take root in in the hearts of even the locals here and Even more so, the people who haven't returned yet. But I will say that this year the the airline traffic for Christmas and New Year's was 43% higher than any year before that. So it just goes to show that there are a ton of people coming back and coming back for the first time and you can watch the clips of them being interviewed as they get off the not as they get off the plane, but as they're there for the first time and a lot of them are just crying and they ask them like what are you, what? How are you feeling? And it's really touching to see these people and they're like it's a whole new country, you know, and so it's still. It's gonna take more time for more people to find out, but it, you know, it's a viral thing that people come back. They tell their family members in the states, family members of the states come back and it becomes exponential.
Speaker 2:Jonah, any thought towards the or interest in the Having party that's occurring down there in Bitcoin Beach April 2nd to 4th? I was looking into it a little bit. I got the time off work and whatnot, but you know tickets are 400 bucks us, I think, and plus you got a. You got to stay at that hotel on top of exactly If you for two people it's like two grand.
Speaker 1:And I'm sitting here, I live in El Salvador, and I'm saying there's a bunch of other having parties. I don't know who's like speaking there. I think it's just a big party. I'm Contemplating whether or not to decide, but it's like do I really want to spend two grand to go say at this hotel when.
Speaker 2:I like live, yeah, right, right there I mean there are, there's some cool figures going that I would like to meet a couple people I've had on the show, the guys are going can you give me some more for? Yeah, for sure.
Speaker 2:So it's the guys who created the laser eyes trend oh factory and so there's, I don't know, I want to say a couple dozen of them going. That's, that's been planning this event. You know the events probably not gonna happen, like the having probably not gonna happen during those two days, just by chance, but right and yeah. So I don't know. Sean Harris is one of the main organizers. You can follow him on on Twitter or on X and I don't know. I had Pedro on. He's kind of he's anonymous, so he's calling Pedro, but you know there's, there's oh sorry, nico from Simply Simply Bitcoin.
Speaker 2:He's got a pretty big show there and he's actually I just saw him live streaming with Adam O'Brien, the CEO of Bitcoin. Well, that's a company I was telling you about that I purchased on my Bitcoin through here in Canada. So there's quite a few figures going like big names in the space. I think that would be cool just to kind of connect with them. But yeah, I thought 400 bucks us was was a little hefty for the ticket prices.
Speaker 1:Well, it's it.
Speaker 1:I would be willing to do 400 bucks just for the ticket, especially because I live here and I want to go and Max Kaiser and all these awesome people are going to be there, but it's like they're making you say the event, they're making you say the venue, which is really annoying because it's like I live right here. I don't want to say the event, you know what I mean. Yeah, but I will say it is worth coming because there's not only going to be, especially if you're from abroad. I would highly encourage you because I know I am going to a bunch of having party. Maybe not that one I'm still debating whether or not I'm going to go to that because staying at the hotel is just like unnecessary.
Speaker 1:But there's so many others having party in Elzante, there's a having party in Tumco, there's having parties all over and they're not going to be as big and maybe not as many giant names there, but tons of Bitcoiners, tons of community, tons of fun times. So there's going to be a ton of action over here just in general for that whole. Probably two weeks, two to three weeks from beginning to late April. In fact, brad, after the show, if you want to send me the X of the guy who you said is, organizing it Sean Harris yeah, I'm actually supposed to record with him like very soon, so I will ask him.
Speaker 2:Yeah, I will connect him. Might even be this week, so, but yeah, you know. So we got Bitcoin just hovering under 43,000 USD. I was thinking maybe we said we're going to see a little bit more of a dip. We did see a little bit of a dip after the ETF approval. But you know, what are you guys thinking in terms of what we're going to do, going into the having over the next 10 weeks? Do you think we, you know, kind of dip down a little bit still or stay pretty steady, straight line up, and any thoughts around that?
Speaker 1:I think we're going to just either grind up or crab and then blast up. You know it's I think it's mostly upside from here WIC to 38 again, possibly. You know what I mean. But it's like are we going to go to the low 30s? How can we, bro? How is it possible they're buying so much freaking Bitcoin? You can't believe it. I'm talking about the ETF, and there is so many other people buying Bitcoin. It's like we've all. I know so many people on Twitter have gotten this tonal vision on the ETFs Like how much Bitcoin is being bought? Hey, news flash fellas, they're not the only Bitcoin buyers. Okay, so it's like how can we go down when they're buying such an insane, absurd amount of Bitcoin? The downside has to be minimized, because it's like there's just it's called supply and demand, it's math. It's like what's going to make the price go down? I just don't really see it. You know what?
Speaker 2:I mean. What's? What's orange? Think about this.
Speaker 3:I hope it goes down for obvious reasons. But yeah, just it would be max pain for the halving party. Somehow I really am used by the fact imagining all those people sitting around trying to have a party Bitcoin being at 10K and stuff.
Speaker 3:Markets always move into max pain. So yeah, and also it would be cheaper for me to stack more. But more realistically, I think this April a lot of things will culminate into the perfect storm for Bitcoin and other assets, but for Bitcoin the most. The first thing is miners. Balance sheets are very low I think the lowest since 2020 or, you know, very low. If you look at the Bitcoin exchange reserves, they're also pretty low. I think 780K Bitcoin at exchanges right now able to be bought spot. You also have to keep in mind that Bitcoin miners basically are a demand for Bitcoin, they're not supply. Most people think there is supply for Bitcoin because no, the protocol is to supply for Bitcoin. Bitcoin miners are a demand because they think about how can I allocate my capital to acquire Bitcoin? Is it cheaper to acquire by mining or is it cheaper to acquire by buying spot? So the halving changes for some Bitcoin miners in this equation and they will start buying spot instead of running the operation, which also drives the price and the protocol. Half is the supply.
Speaker 1:How do they buy spot if their revenue comes from mining? Well, just imagine you're being.
Speaker 3:Yeah imagine you're being black rock and you'll have to run an ETF. The reasonable thing would be to strike some deals with miners to buy Bitcoin OTC from the miner at a fixed rate. So, basically, what black rock does? It uses mining to acquire Bitcoin instead of using exchanges to acquire Bitcoin. So you also always have to pay for the electricity. So as long as it is cheaper to pay for electricity to mine Bitcoin, then you do that. But if the halving reduces profitability, you switch over to buying from the exchanges.
Speaker 3:And then the next thing would be I think this real estate crisis which is starting with Evergrande and Country Garden in China will spill over, because Evergrande does not only own in China, they also internationally own assets which will affect balance sheets of other financial institutions, western financial institutions.
Speaker 3:If Evergrande is forced to dump their holdings, it could have a domino effect. Also, I think this yield situation with the bonds is going out of hand because it's also affecting, without going too much into depth, the balance sheet of banks. So we more or less need to have some sort of pivot from the central bank If it's forced or if it's voluntarily. They're kind of flattening the levels for the narrative to shift right now by saying, okay, inflation has come down, and this and that, and also this is an election year in the US, and have you ever noticed that a Bitcoin halving is always coinciding with the election years in the US, like because in democracies you tend to print money to buy votes? So all these things come together and I think, yeah, there are more. They are stacked to the upside, immensely stacked to the upside.
Speaker 1:There's also the ETFP, the banking program for unlimited liquidity for banks. That basically risk-free loans for these banks. That is being canceled right around the end of March, early April, right in that time zone around the halving as well. So that could cause even more chaos in the financial markets, which Bitcoin, we know is a safe haven asset for them, as we saw when all the Silicon Valley bank collapses fell apart and everyone was screaming the economy is going to completely collapse.
Speaker 1:Now I'm back in March of last year. We saw Bitcoin rise dramatically at that exact point. That's evidence that Bitcoin is a safe haven asset. And so if we start to see more of that when the bank funding program ends, right along with everything that Orange just said, then that's just going to cause even more fuel to the fire. And then you've also got the Lindy effect, the FOMO, which is like people are seeing the price going up there and they need it. They need it All the millionaires I got to get to one coin I got into there's not enough coins, so we got all that. And I do have one question for Orange, because he didn't want to go into too much detail, because it's boring, but I really want to understand. Can you explain how? A little bit about your understanding of how you know whether or not the Fed decides to continue raising rates or keep them even, or lowering the impacts the banking and therefore the Bitcoin price. Can you give me some more juice?
Speaker 3:Okay, so how a bond works. The government says, okay, I want to lend money from private individuals and they have an auction. And at the auction they say okay, you give me $100 and I give you back $110. Right, so you have a 10% yield. That is the yield on the bond. That would be 10% in that case, if I'm not totally mistaken. And then after that, because the bond matures in 10 years, so the government says okay, in 10 years I give you this $110. You have 10 years to trade this bond. So the starting value of the bond is $100. But for example, if there comes along more profitable bonds from the next auction, which we present rising rates, your last bond becomes less in value. So it could drop to $90 or 80. So banks are holding those bonds on their balance sheet and basically, in a rising yield environment, those depreciate very quickly.
Speaker 1:So they're holding a giant unrealized loss on them.
Speaker 3:Yeah, and they are collateral because we have a fractional reserve banking system. They're starting to get undercollateralized, right yeah, and this causes different issues which force the central bank to at some point pivot, because at some point the banks are undercollateralized and they're getting squeezed because people don't have much savings, so they're taking out also their money and at some point it doesn't balance anymore and there needs to be some sort of intervention, which I think is very likely to happen on a bigger scale than last year, like in starting Q2 this year.
Speaker 1:Really you think that the bank I would figure they're going to figure out? I would expect they will try at least their hardest to try to push the can down the road to stop banks from collapsing until after the election. I would be fairly surprised if they don't figure out some way just because it's like they don't want that on there.
Speaker 2:They don't want it on their belt.
Speaker 1:You know what I mean, but it's something maybe just be completely inevitable. But can I ask if we follow?
Speaker 3:up why Reverse repo facility at the central bank. You can put in threat reverse repo facility and it's also very technical so I won't explain it. But basically you can see a graph going down and this graph represents excess liquidity of the banks that they put in the saving account and now it's getting drained and once this graph hit zero, you basically need this liquidity to come from somewhere else.
Speaker 1:So that's what the bank, that's what the BTFP was, that's what that was for correct. If you do, you know what the BTFP is.
Speaker 1:I don't know about the BTFP, but so the reverse repos were getting completely smacked in early March, when Silicon Valley was collapsing and everyone was withdrawing all their money from banks and they needed that liquidity. Reverse repos getting completely smacked from my very smooth brain understanding of it, and so they had to have some other form of liquidity. And so the Fed released this BTFP, which is this unlimited risk-free liquidity, like unlimited loans for banks, and they just had taken billions and billions and billions and billions and billions and that was only for one year, that it's going extended and that's also being cancelled at the end of March, slash early April. So there's definitely probably cute. That's Qtube seems very. If that's going to happen this year, that sounds about right.
Speaker 2:Sounds like we have quite the recipe going into 2024. We got to enjoy this journey, fellas. It could be a very exciting year and I think, going into the 2020, halving I think the price of Bitcoin was just over 8,000 or so and we topped out, I think, at 69,000. So if we're going into this halving at 40,000, that's pretty exciting, pretty exciting in terms of price and, again, everyone's favorite topic there. But I'm going to open it up to you guys, if there's anything you think we're mentioning that we haven't touched on this podcast from the time we spoke last. Maybe now's the time. If not, maybe let us know where to follow you learn more, jonah and Mr Orange.
Speaker 1:We talked a little bit about Max Payne. I know that Orange brought that up, you know kind of jokingly. Max Payne would be 10K. I think that Max Payne, for most people would certainly not be 10K because so many people are sideline and don't have enough, have enough of a stack. I think that Max Payne is certainly up. You know, max Payne there's somebody really smart, samson Mow, who talks about it, Max Payne being basically.
Speaker 1:First, let me say what not Max Payne would be. Max E's would be at a slow move to the upside, where we all have time to prepare. We can all stack more sats. You know the economy doesn't blow up in some chaos. You know it doesn't end the world but it. You know the economy doesn't blow up in this, this chaotic mess, and it's just kind of this smooth transition to a new, brighter future on Bitcoin, the Bitcoin scene.
Speaker 1:But Max Payne would be we don't have time to prepare and it takes everyone call off guard and everyone thinks it's going to crab and everyone thinks it's going to go down to 32,000 or 28,000. And it just takes everyone off guard and rockets up to new all time highs and then it just, instead of going down and dipping to let people lung the dip. It just keeps going up and it breaks 100,000. And now we're at million and we stopped pricing Bitcoin in dollars, but we start pricing it in a decimal form of a million and it's all okay. Now Bitcoin is point one million dollars. Are you going to get some? Oh, okay, I need to get some. And then more people follow in. Now all the funds are continuing to buy it as Bitcoin gaps up on the weekends. The ETFs open up on Monday and they're forced to market by tens of thousands of Bitcoins, but there's not on the market and therefore it a price just launches up and we go to a million in weeks matter of weeks.
Speaker 1:So I think that that's really true. Max Payne for the most amount of people, and I'm not saying that that's what I would expect, but I would say that that is a probability and I would say that Max Payne is not down. That's kind of my thesis. Go to follow me on Ledger Jedi. If you're going to travel to El Salvador, shoot me a DM. I'd love to show you some of the amazing things that are going on with Bitcoin going on here and show you some of the genuine, really heartwarming things that are taking place here, so follow me there. Don't trust, verify and check out El Salvador.
Speaker 2:Absolutely got it, yeah, yeah. And when you're talking about you know that the price appreciation, how many people come to me and say you know Bitcoin's too, bitcoin's too pricey, so they're buying Ripple or something else. And it's just like I get that so often here. It's crazy, but yeah, no, well said, jonah, and again, thank you for joining us this afternoon. It's always a pleasure, man, love, love, learning from you, love catching up with you and your journey there. Mr Orange, if you don't mind, if you have, if you have any closing remarks to us, we'd love to hear them.
Speaker 3:Sure, my closing remarks would be one Bitcoin is one Bitcoin. Slay your heroes, stay humble, stay ex-sads and remember nobody's coming to save you, man thanks, thanks again.
Speaker 2:Nobody except my name, michaela.
Speaker 3:Yeah, Except countries that have them the name maybe.
Speaker 2:Really. Yeah, it's a pleasure.
Speaker 1:Always a great time to see you all. Orange, you're the man absolutely genius. Brad, you're the man. You're the only liberal you know that I actually like, so cheers to you brother.
Speaker 2:All right then. Well, thanks again for doing this. Fellas, I'd love to you know, do this every so often and just catch up with both what you guys are doing and just learn Bitcoin. Man, that's what I'm here for.
Speaker 1:Hey, thanks for having us. Let's catch up soon.