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07 August 2025
Bitcoin to $1 Million: You’re NOT Ready for What Comes Next w/ George Bodine | YBS #124
In this episode, I chat with George Bodine, a professional artist whose incredible journey spans everything from Navy fighter pilot and Top Gun graduate to oilfield worker, cab driver, miner, police officer, and airline pilot. George’s life story is a testament to grit, reinvention, and unstoppable curiosity — a journey that eventually led him deep down the Bitcoin rabbit hole.
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00:00 – Intro
00:50 - George Bodine’s Unbelievable Background
07:03 - $8 Billion Bitcoin Dump and Market Resilience
14:15 - MicroStrategy’s Mega Halving Strategy
21:12 - The Omega Candle and Price Set at the Margin
29:00 - Smash Buying vs DCA: George’s Stacking Journey
36:09 - VolaFlity, ConvicFon, and Studying Bitcoin
43:13 - Satoshi Scarcity and the Timeline to 2140
50:02 - Unit Bias and TargeFng 0.1 BTC
57:20 - Market Cap Growth and the 10-Year Outlook
01:04:00 - HyperbitcoinizaFon or Slow Burn?
01:11:01 - The Matrix Analogy and Bitcoin Individualism
01:18:06 - Resentment, Envy, and Future PersecuFon
01:25:00 - Self-Custody, Seed Phrases, and Escape Plans
Block height: 909020
G G (00:02.257)
Welcome back to Your Bitcoin Story, the show where we uncover the journeys, awakenings and transformations behind the people who found their way into Bitcoin. I'm your host, Gigi, and today we've got an episode that's as wild and inspiring as it gets. Our guest today is none other than George Bodin. And buckle up because George has lived many lives. He's a professional artist today, but before that, he had different jobs wearing different hats.
from oil field worker to cab driver to miner to police officer to Navy fighter pilot, top gun graduate, and also a Delta Air Lens pilot. Yes, that's all one man. George's story is one of grit, curiosity, and reinvention, and ultimately a journey that led him down the orange rabbit hole. George, welcome to the show, sir.
George "Jethro" Bodine (00:59.498)
I appreciate that. Thanks. Yeah, we're going to have a great ride here because there's a lot of things to talk about. You know, it's July 30th right now. Bitcoin price is about 117. We just went through one of the most incredible events over the last weekend, which is we saw we saw eight billion dollars worth of Bitcoin, 80,000 Bitcoin come onto the market. And basically, I assume based upon some of the
messages that were released from, I believe it was Novigrad and his company Galaxy talked about the fact that they had sold these as part of an estate planning liquidation. yet the Bitcoin price hardly moved. I mean, I think it went down about three and a half to 4%. That's remarkable. I mean, that's an incredible event. I think, you know, if you'd have done that three years ago, Bitcoin would have crashed probably 20%.
G G (01:40.818)
Mm.
George "Jethro" Bodine (01:56.448)
as it was, it not only did it go down a little, but then on top of that, this was in a period of very low liquidity. You know, the weekend is right now, it's kind of reversed. Nowadays on the weekend is when we have less liquidity in the system. So they, they, you know, basically liquidated these coins and over the weekend, it recovered by the time we came around to Monday, the price was back up right where it was before. That is an incredibly bullish sign for people. you're
If you've been in the space for a while and you picture 80,000 Bitcoin being transferred in ownership, just the signal alone to have some old 2011 Satoshi era wallet to be put onto an exchange, just the movement of the wallet to the exchange would have crashed Bitcoin before, let alone trying to sell it in a fairly short period of time with low liquidity using some OTC sales I've heard.
In other words, not really using probably the best, most optimal methods to get rid of that Bitcoin. I mean, that's pretty impressive. I mean, it should make you incredibly bullish and really confident that there is some kind of underpinned bid to Bitcoin right now that is just off the charts.
G G (02:58.439)
Mm.
G G (03:13.661)
It is no indeed. know, as you said, George, if this would have happened like five, six, seven years ago, proof we would have seen not a 3 % pullback. It could have been 30, 40 % drop in a matter of hours. And as you said, you know, 80,000 Bitcoin today's market value of around give or take $9 billion just like, poof, liquidated in a matter of hours. And if you didn't open the charts over the weekend, like, you know, George, I don't really look at the charts that often.
On Monday, the price was the same. I only discovered that the sale happened when I opened X. Like you would not like my BTC clock was still showing me. We're at $118,000 something and I didn't even feel it. And it's phenomenal, as you said, that you could sell such an amount and it hardly impacts the price. And it just shows that there is so much demand for Bitcoin at these levels that I don't know what it would take for a Black Swan event to happen.
George "Jethro" Bodine (04:12.366)
Well, let's talk about that for a minute. Let's unpack what you just said there. Let's talk about the demand side because the demand side we can see. mean, you can look right now, if you look at the ETFs over the last year, actually, it's been over a year now since their launch. They have averaged three to 10 times the amount of purchases daily than the Bitcoin that are being mined. Then if you transition to the BTC Treasury companies,
G G (04:23.205)
Hmm.
G G (04:36.754)
Yeah.
George "Jethro" Bodine (04:41.376)
over that same period of time, they are buying between two to 10 times daily the amount of Bitcoin that's being purchased. If you also look at just the, well, just the flows right now, the flows into the ETFs are fivefold. So five times many inflows and outflows, because yeah, there are some days where outflows occur, but overall it's just a net, it's like a sink. And you know what people do not understand or they just,
G G (04:50.61)
Yeah.
George "Jethro" Bodine (05:13.102)
MicroStrategy just announced before we recorded here the day prior, they just announced that they bought 22,000 Bitcoin and one smash buy. 22,000.
George "Jethro" Bodine (05:29.25)
Those Bitcoin, 629,000, I think approximately, those Bitcoin, do you think that they're ever going to move again? Basically, he has told us this is a black hole of Bitcoin. This Bitcoin's not going anywhere. This Bitcoin is being taken off the market. It's not going to be sold. Sailor and MicroStrategy, now Strategy, have told you repeatedly, they've said, we're not selling Bitcoin.
G G (05:46.749)
Hmm.
George "Jethro" Bodine (05:59.052)
We have one goal here is to accumulate as much Bitcoin as we can get. So he is creating, how much do you think a halving event occurs or means anymore in today's world? When you compare it to what strategy is doing, he has his own mega halving event, just Sailor himself. And that's one company. Now they dwarf everyone else. The next company, just look at MetaPlanet. That's another company that I'm interested in. full disclosure, I actually hold a strategy and
G G (06:18.364)
Hmm.
George "Jethro" Bodine (06:29.394)
meta planet along with similar. So look at meta planet. I think they're up to like 17,000 Bitcoin right now. So Michael sailor and once one smash by, 2.5. Yeah. Two exactly $2.5 billion purchase like that. He, he bought more in one day than they've bought since their inception. This is, people are just not thinking this through. And I, I'm not a big fan of the.
G G (06:41.051)
More than their whole thing, they've been buying for a year.
George "Jethro" Bodine (06:58.548)
Moe ass mother of all supply shock theory. there's always a seller for a buyer. just, it's just price, but nonetheless, when you talk about supply shortage or supply squeeze, I mean, that is real. That is going to happen. People are at some point, you know, we'll talk, maybe we can talk about this later, but I, you know, well,
G G (07:19.345)
Let's talk about now. It's hot on the tongue, so we might as well keep it rolling.
George "Jethro" Bodine (07:23.47)
Here's the thing. This ties in with everything we just started discussing from the very first few seconds. A lot of people will come on a show like this and they'll say, prices set at the margin. But they never explained to you what the hell that means. And I can try and lay this out for you. Let's just say that as this continues, as more and more people come into this space,
When we say price is set at the margin, what we're talking about is the fact that at some point, like let's say it's a run up or even a run down, it's the exhaustion at the end of that run. That is where price is set. So when you're looking at a market and you're seeing people come into it and they're driving the price higher and higher, and I said, for every buyer, there's a seller, for every seller, there's a buyer. It's just price. Well, when the...
G G (08:05.714)
Hmm.
George "Jethro" Bodine (08:19.214)
market is rocking. And I mean, we are just zooming up. You eventually come to a point where there's exhaustion. Okay, well guess what? We are going to come to a point someday in the future where when that exhaustion occurs, there will be a buyer that steps in that's agnostic to price. That country, that government, that company, that individual, that pension fund, the insurance, whoever the fuck is doing it, they're going to smash the buy button and they don't care what the price is.
And when that occurs, when there is nothing left in that particular exhausted market, we are going to see a candle that will light up your eyes. And that is price set at the margin. Yeah, that is price set at the margin. It is what we are going to find price discovery in those moments.
G G (09:00.081)
I'll blow your face off. Yeah.
G G (09:09.181)
Hmm.
I think so, know, what Samson Mao likes to call it is the Omega candle, meaning to those listeners that are unfamiliar with what's meant by Omega candle, means you see a hundred thousand dollar move in a day in less than 24 hours, which we're yet to see. We've seen the God candles, which Adam Back calls, which are $10,000 moves in a 24 hour period. But then the next one is the Omega. And who knows in the future, maybe there'll be even a bigger candle movement of a million dollars in 24 years.
for hours. But until that, I totally agree. Once the supply shock comes in, and once people are jumping over each other like dead bodies, like on a Black Friday to scoop those sats, and there's only 450 sat Bitcoin being mined every day, and not all of them go on the market straight away. Some miners keep them. I mean, it's going to be a very fast move up. As Samson says, it could be a violent move to $1 million a coin. It's not something in five, 10 years time.
We could even potentially see it by end of year. We never know. But I fully agree with you, George, that and we've never had this historically. Whenever there was huge demands for other asset classes and commodities like oil, we saw countries drilling like crazy, flooding the market with oil and the price tanks back and it stabilizes. Same thing with gold. Same thing with most things. But with Bitcoin is this new creature which you cannot inflate more. You cannot produce more of it no matter.
how much money or hash power you have, you are abiding by the consensus rules of what we have.
George "Jethro" Bodine (10:44.834)
Yeah, that's a good point to bring up what you said there, because there is no one to step in and save this market. Right now, people are discussing about paper Bitcoin, but really, in my mind, it's in the derivative side of this equation, meaning what is a derivative? It's just a contract. But right now, if you look at that side in Bitcoin and you look at options and expiry and you look at the futures contracts, the thing is that those particular markets
G G (10:51.261)
Hmm.
George "Jethro" Bodine (11:15.072)
are based upon the idea that there will always be more of the asset to loan. And TradFi that's involved in these markets, if they get to a point where there is a liquidation event, meaning there is not enough Bitcoin to cover some of these contracts, and there is no one to step in and save that market. Yeah, we could see candles that again would just water your eyes. Now,
Right now, you know, our price action is incredibly bullish. And what I mean by that is, you know, I just got done reading, glass nodes on chain newsletter for this week. All the, all the cylinders are firing. Everything is just going great. I don't, there is not a single chart in there.
Maybe transaction volumes. They're very large in dollar denominated amounts right now, but transactions within a block have obviously fallen off. I'm concerned about that, but that's not what I'm talking about. What I'm talking about is where we're going in the future here on price. Everything is just, it's like a bedrock and we are stair stepping our way higher. Now I will say the short term holder cost basis today is 105,000.
And it's unusual. We've got almost the entire market in profit right now. And so for some reason, the short-term holders, these are the leaky lettuce hands, the hot money, trading money. But you know, everybody, even myself, I was a short-term holder because when you first buy for 155 days, that's who you are. And usually that is not a very convicted buyer. And so we could see some liquidations. There is what's called an air gap.
G G (12:54.161)
Yeah.
George "Jethro" Bodine (13:04.046)
they were fact they were referencing this in glass node between the price of, oh, say about, I think it was around 110 up to around 117. You can actually look on a, uh, an order chart or a heat map. can see that we just teleported up there and there was very little of what I was discussing earlier. None of that buy sell price discovery at that level. So we might go back and retest that. And, and when we get up to about 125, 125,000 is our next level yet. And when we get up to there,
G G (13:18.395)
Hmm.
George "Jethro" Bodine (13:33.57)
we're going to see some of those short-term holders. They're probably going to start exiting some of their positions. And the next level after that's 141. So we need to get through 125 and then hopefully we'll just kind of move our way to 141. And if we do this really well, if we don't have any weird omega candles or if we don't have any tremendous amount of activity and skyrocket to the top, then this is sustainable.
We could keep doing this and just go higher and higher. Some analysts are calling for, you know, 150,000 for our top here. Some are, you know, all over the place, 400,000, whatever. Nobody really knows where this is going, but I will tell you that if we continue doing what we're doing right now, it's very healthy and we will continue to go up. it just, you know, if we just fill in these steps as we go, it'll just keep going.
G G (14:11.239)
Hmm.
G G (14:26.712)
Yeah. Yeah. No, it's an interesting point you bring up, George. know, we always say, you know, that the history repeats, it doesn't repeat itself, but it rhymes. And there's been a lot of talks of like, you know, these cycles are going to carry on. However, this time around, we have different players and players with much deeper pockets and actual convictions. May that be the strategies of the world. May that be government stacking.
And retail is still not here. If you search, you know, the Google search keywords of Bitcoin, it's like nearly all time low. And generally when you speak to random people, they're not all in on Bitcoin. They're still on level zero, which is insane to me. But that's besides the point. The point is if these institutions and big players keep on buying and buying and buying, and they're not buying it just for this cycle and they're aiming to exit at the top, they're looking at the long-term proper
low time preference of holding this for decades, even generations. Perhaps as you said, George, we could realistically just have this stairway to heaven where we just keep on going higher and higher, finding support, going higher, finding support, going higher, not having essentially we could leave this 70 80 % swings in the past. Just a few days ago, I what's his name Peter McCormack.
which everybody very well knows in the show. don't know if you saw the clip on X. He was on Natalie Brunel and I just showed the short clip that she posted where he said that what I just mentioned, he doesn't believe there's going to be these massive pullbacks of 70, 80%. That's already been done. Now it's just going to be, we're constantly steadily going to be going higher and higher and higher over a long period of time. Now, is that going to happen? This is non-financial advice. Me and George could be totally wrong what we're talking about here, but realistically,
It does make sense, you know, there's different, as I said, different stakes at hand today. And, and yeah, we'll have to, we'll have to wait and see.
George "Jethro" Bodine (16:22.978)
Well, it's just a very healthy, as I said, it's very healthy. And if you have these huge run-ups, what happens is you become exhausted as we talked about, know, sellers, buyers, it's an exhaustion. And unless you have someone step in at that point, you are going to see significant drawdowns. Now, I'm not saying it's going to be 80%, but we could definitely see strong drawdowns. And the reason I say it may not be that much and that
G G (16:31.398)
Yep.
George "Jethro" Bodine (16:48.152)
like a 70, 80 % drawdown is simply because our market cap is so large. You're looking at a 2.1, $2.2 trillion market cap. It takes a lot to move that thing. And now, we've got all these options, we've got all this liquidity that's in the system, and we didn't have that in the past. And so I'd have to say that the thesis that Peter is putting out, it makes sense.
G G (16:52.338)
Hmm.
George "Jethro" Bodine (17:12.376)
We'll just have to see how this plays out. I don't think that Michael Saylor's comments about crypto winner is not coming back. I'm not as confident to say that, but if crypto winner does come back, I mean, it's going to be an ideal opportunity for those who are convicted to stack sats like a son of a bitch.
G G (17:21.83)
Yeah.
G G (17:29.949)
Indeed, but well said. Yeah, I'm also not don't get me wrong. I maybe didn't express myself correctly I didn't say that like bear markets are not gonna come I just what I meant was I don't think they're gonna be as violent and and and as Dramatic as they were before because to your point George. This is a two point three trillion dollar market today Who knows wherever this next top is it could be a three four?
George "Jethro" Bodine (17:42.519)
Yeah.
G G (17:52.925)
trillion dollar market someone to really impact it as how we started off this episode someone sold 80,000 Bitcoin which I don't think we're gonna see for a long time someone selling so much Bitcoin in one go and it hardly moved the price like it pulled back three four percent crazy
George "Jethro" Bodine (18:10.624)
It is crazy. you know, if you go forward, if you just try to picture where this is going, yes, it's true, retail's not here. But the thing is the institutions, they have arrived and they're here in mass. mean, there are tremendous, last count I had was over 160 companies now that are using some form of a Bitcoin treasury operation.
G G (18:20.25)
yet.
G G (18:25.852)
Hmm.
George "Jethro" Bodine (18:35.342)
You look at the pension funds, insurance funds, asset allocators, family offices, all the wirehouses are just about to the point now where they can get past the reverse inquiry issue that's going on. And what I mean by that, when I say that, is that a lot of these large, really large, like JP Morgan, some of these really large banks, they have something right now called a reverse inquiry restriction, meaning that a lot of the advisors that have been already undergoing training in how to approach Bitcoin and
market it to customers. They're not allowed to actually give that information out to customers unless the customer first asks them about Bitcoin. But that's going to go away pretty soon. So the reason I'm saying all this is because they are here, but they're not here in any size in their positions. Although we see somebody like MicroStrategy, most of these companies are very small. They're putting in a small amount. They're just, you know, dipping their toe in the water. They're afraid.
G G (19:14.299)
Hmm.
George "Jethro" Bodine (19:34.668)
you know, this is an untested asset class in many ways just because of its history, the short history that we have in price discovery and in market trading and in everything from the options to the futures. I mean, these are new markets that are emerging. And so it's just going to continue to grow. This demand, you know, talking about pullbacks, I don't expect this demand to actually start to shrink or to go away.
I think if we have a catastrophic event, a black swan event, yes, Bitcoin correlates to one, just like all assets do. But Bitcoin's unique. If it happens on a Saturday or Friday or evening, mean, Bitcoin's liquid. When you're screwed up in life and you know that Monday's coming and your assets is going to get handed to you, you're going to have a margin call, you're going to have to come up with capital, collateral, Bitcoin is going to correlate to one. During that period, it doesn't matter if it's gold.
Equities, whatever you hold, things in fear and cycles of fear, things correlate to one and Bitcoin will do the same thing. But if you look, there's data out there that shows you within 60 days, Bitcoin outperforms everything after a black swan event. it can't be, you know, so this is not financial advice, but obviously if you had a black swan event and Bitcoin crashed like COVID, do you remember down to 3,500? What the hell should you have done? Should have backed the truck up.
G G (20:54.811)
I was gonna say, yeah, COVID. Yeah, Smashed by.
George "Jethro" Bodine (20:59.874)
You know, soldier kidney, you should have a scar right now. And, and stack like a smart psychopath because Bitcoin, know, overall, we know where this is going. If you look at Bitcoin's history, goes up and to the right. That's it. That's where it goes kids up and to the right.
G G (21:18.703)
Yeah, I think this is a nice point to bring up the topic of stacking stats, which we don't discuss too much on, please, on my podcast or to be frank, most podcasts, I don't really see anyone really talking about kind of sharing, asking guests what are their Bitcoin stacking strategies. So maybe this would be a great opportunity to jump that rabbit hole. And as we briefly discussed before we went on air.
You posted an interesting post on X just a few hours earlier before recording this episode. So maybe we can jump into that.
George "Jethro" Bodine (21:52.674)
Yeah. I, shit. Yeah. Yeah. Well, no, I mean, I do want to discuss this. I just got to think to myself how to frame this out. You know, I w why am I doing these podcasts? Okay. I, my original goal was I thought maybe I can help orange pill some people that are on the fence. Maybe I can give some conviction to those who are struggling with the volatility and trying to stack or, maybe just hope.
G G (21:56.381)
Did that catch you off-guard?
George "Jethro" Bodine (22:21.932)
You know, the fact that if you can paint a picture for somebody what it's like to be living the Bitcoin life, it's a beautiful life. It's incredible. But what I'm going to say right now is something that I've not heard discussed on other podcasts, which is how do you buy your Bitcoin? Most, most people on podcasts, including myself, and I've done this in the past, they recommend something called DCA, you know, dollar cost averaging.
G G (22:22.396)
Hmm.
George "Jethro" Bodine (22:50.348)
Basically, it's a set up a program weekly, monthly, whatever, but it's a program where you buy on a regular basis. Now I don't, I don't actually buy Bitcoin like that. I never have. Yeah. So why would I be saying that to people? It's almost, you know, this has been bothering me a little bit.
George "Jethro" Bodine (23:13.984)
So I've tried to quantify what is the advantage of smash buying like I do or did in the past, because I'm all out of money. So what comes with smash buying Bitcoin vice DCA? Well, one of the articles that kind of got me thinking along this just came out recently, it's by Theo Mosjanei and he's on X. I gave you a link to his...
Twitter handle, it's on your DM so you can put it in the show notes. He just came up with a report and it's a pretty extensive report trying to quantify what I'm talking about. People like myself who just went all in and smash bought Bitcoin versus DCA. Guess what? Smash buying the returns are off the charts. I think the number was around 1700 % return. Vice maybe three or 400 % return for DCA.
But why then would I not just tell people, just buy as much as you can get, you know, every time you can just buy. And the reason is this, if you go and you look at the second column of that chart, what he's really painting in that is volatility. And guess what? For people like myself that have bought like that, especially years ago, the volatility was off the fucking chart. I mean, just off the charts.
G G (24:23.133)
Hmm.
G G (24:43.185)
I remember.
George "Jethro" Bodine (24:44.714)
So what did that mean for somebody like me? It meant that, you know, I couldn't get enough Bitcoin. As I started to read about Bitcoin and study Bitcoin, just went all, I mean, all in mentally because I studied Bitcoin constantly. I never stopped. I still read, I study constantly today. I love, I love learning and I love learning Bitcoin. So here I am. I, you know, I started, I bought then the next day I thought I got to buy more.
And then after a while it was like, I can't get enough. And then I just kept buying. Eventually I started transferring other assets out of things and I sold them. And then what did I do? I bought all, I used all the money and bought Bitcoin.
But the problem is many a night I would lay in bed there and as Bitcoin was crashing because of this volatility, I would, I'd just be staring at the ceiling. I'd have trouble sleeping. And I remember one morning in particular, it was really bad. I, you know, I looked over at my wife and she's sleeping soundly there and she, you know, she trusts me. mean, she trusts me with everything. I am the master of our house.
G G (25:57.531)
Mm-hmm.
George "Jethro" Bodine (25:57.674)
And it's a big responsibility. you know, I thought, well, if I, you know, fuck this up and if I managed to buy a magic internet money, basically beans, you know, like Jack and the Beanstalk, and I believe in a fairy tale. So if you talk to an investment advisor at that point in your life, if you wake up that morning and you get, call and you say, Hey, I need an appointment. And you go down there, you talk to your investment advisor. You know what he's going to tell you?
He's going to tell you the reason you don't sleep well at night is because you're overextended. You have too much in a position. You need to sell your Bitcoin. Well, if I was having trouble sleeping with my Bitcoin, if I sold the damn thing, I would have been, I'd have been insomniac. I would never slept again. So that was the wrong advice. What the real advice was just get in the books and start studying harder.
G G (26:28.541)
Hmm.
G G (26:40.679)
You wouldn't sleep at all. Insomniac.
George "Jethro" Bodine (26:53.088)
and understand what you own. So again, this is not financial advice, but I had somebody post to me today, he says, I've got $50,000 and I'm going to wait until some jackass politician makes a statement and then I'm going to buy it. You know, he, doesn't get it because if you really understand Bitcoin and you've got a spare $50,000 sitting around, you better get a half of Bitcoin right now, right today, now, and then sit on it.
G G (26:55.206)
Hmm.
George "Jethro" Bodine (27:23.146)
And if you sit on it for five years, you know, you're not ever going to lose money. the secondly, you are going to create generational wealth. So I don't know, does that kind of cover some of what would, you know,
G G (27:36.189)
It does. It does. actually, as you've been saying, you know, I personally I can relate fully to what you've been saying, George, you know, I've been also advocating for DCA, especially for people that are new to Bitcoin, and they're unsure and the volatility is there. And I don't want to tell them like, go all in and then it dips 10 % over the weekend. And they're panic selling and calling me and like, Oh, my God, actually lost money because it dipped and I panicked and I sold. So it's like to get it going. DCA is a fantastic strategy. But as you said, George, once you've passed your
100, 500,000 hours of stunning Bitcoin. Personally, for the last four or five years, any money I get from anything, I just smash by it straight away. There's no DCAing it over one month or waiting for that dip. I mean, I'll be honest, even six years later when I smash by and it dips like 10%, it's a little bit of like,
Why didn't it dip yesterday? But then again, I don't dwell on it. I sleep very well knowing that in the long term that smash buy that I did, even if there's a little pullback the next day in the long run, it's still a bargain that you're buying Bitcoin at these levels of 100,000. It's just insane. To put into perspective, I think a great point would be here.
A lot of listeners, some don't even realize that the last Satoshi will be mined in the year of 2140, not Bitcoin, the last Satoshi. But most people don't even realize that the last one full coin, one Bitcoin, will be, is estimated to be mined from the year of 2105 to 2140. 35 years, the whole world, all the hash power in the world.
will be mining one single coin that you can acquire today for as cheap as 100, 110, 120, whatever, whatever the price is in today's money. It's just, it's insanely cheap. And like that to me, when I discovered that point, doing my daily studies, like to me, was just like, this is a, you know, like, as I said, any money I get, I smash buy it, put it into cold storage and whatever I need, withdraw a little bit to a hot wallet, pay it off.
G G (29:44.465)
But I don't time the market. know, as the saying goes famously, time in the market always beats timing the market.
George "Jethro" Bodine (29:50.966)
That you know what? That's the key. What you just said is the key. And in fact, when you think about it, there are only every single year, there's only about five to 20 days where Bitcoin has most of its gains. You've got to be in the market during that time to get it. One of the reasons why we hesitate to tell newbies or people just entering the market to do what I just said is because they do they get shaken out. It's the volatility.
G G (30:02.13)
Hmm.
George "Jethro" Bodine (30:16.312)
They're not, they don't understand what they own. And you know that if you tell them to smash by and they put that in there, there's a chance that they will not be able to handle the volatility. And then they'll end up selling, which is worse than ever, because once you get the Bitcoin, you don't want to lose it. cannot lose Bitcoin. Bitcoin is too important an asset to be losing or to actually be trading. This is not the time to be trading. You know, the other thing you mentioned too, talking about scarcity, you know, we've only got
G G (30:37.853)
100%.
George "Jethro" Bodine (30:45.582)
Right now about nine years, get to 2034. So when you get to 2034, we are basically capped, that you're going to, based upon past history on the blockchain, you're going to see as many people lose their Bitcoin as buy Bitcoin after about 2034. Basically, you're essentially capped. So you've got a very limited time here to try and get your stack in place.
G G (31:11.197)
And most people don't realize that, know, like they were here talking about full coins and to some people even today that don't have a well-paying job, like it's already out of reach, even if they would go and today get an extra job. To a lot of people, it's already priced out. But then I tell people, don't be discouraged. Don't think you need that one full coin. Like have a target. Get first to a million Sats. And then your next target is get to 10 million Sats, 0.1 of a Bitcoin.
That is already generational wealth without you. You know, you might look at us today as $10,000, but Bitcoin is an asset that's grown over 100 million percent in the last 16 years. There's no other asset that grew so much. Now, that doesn't mean it's going to grow another 150 million in the next 15 years, but historically, if you look at the numbers, as George fantastically said, it goes one way, it goes to the left and it goes all the way up. It's always going up in the long term.
George "Jethro" Bodine (32:08.076)
Yeah. You know, it's funny because we talk about returns and obviously you would think that volatility would compress and it, and we can show that it is. I don't know how much it will compress going forward, but am I talking about the cumulative annual growth rate, the CAGR, the, the price, if you will just think of it as price. I talking about that decreasing?
I'm personally, I'm not. Now I did recently, I was listening to a podcast and, can't remember who it was, but they were discussing the, the fact that, know, the kegger cannot continue at 50 to 55%. That's where it's been. And, know, if you look at the market cap of $2 trillion, just two, and you use a kegger of 50 %
over the next 10 years, comes out to about a hundred, just over a hundred trillion dollars in market cap. That would represent right now, using today's dollars, it represent about a 10 % asset allocation across the planet in every category you can imagine. Meaning, if you look at the quadrillion assets right now across the planet, there are everything from cars, know, paintings to fixed income, currencies, you know,
Bonds are really popular. Real estate is another one. you know, you look at that, but here's another thing that most people don't realize is that you don't have to put in Bitcoin's market cap's got a multiplier to it. And it's about five. So, you know, if you could put in about a $200 billion purchase into Bitcoin right now, our market cap usually moves up about five times to achieve that. So we have a lot of room to run here. Now,
G G (33:32.423)
derivatives.
G G (33:47.485)
Hmm.
George "Jethro" Bodine (34:01.262)
I will say that, you know, the returns that we've seen like in 2013 and 2017, they may not be here going forward. Bitcoin in a way could just become what we said up into the right for me and my screen forever. Just continuing in a stair-step manner as more and more people, as it's like a virus spreading across the planet. I don't know the answer to some of these questions. I just know that.
your time to get significant amount of Bitcoin, even if it's a tenth of a Bitcoin, it is rapidly decreasing. And if I'm right in the next few years, maybe, you know, I think we'll see a million a coin by 2030. you know, that's going to be $100,000 to get that tenth of a Bitcoin. And it's going to take a lot more work. And, you know, it's going to be discouraging for a lot of people. I'd have to say the theme and that period, once we go forward from there,
G G (34:44.219)
Yeah, me too.
George "Jethro" Bodine (34:59.342)
The theme even now today is I'm too late. You know, when you talk to people and you tell them the price of Bitcoin, I'm too late. It's unit bias. It costs too much. I miss the boat. Someday you will.
G G (35:06.321)
Hmm.
G G (35:10.941)
It is it is no for sure and you know just just to touch upon the point where we're talking about the Why do we not recommend people to smash by it? So not just the delicate shaking out they'll lose money But that the worst thing to me actually is they'll be discouraged by walking away from Bitcoin. They'll say it's you know, I lost money It's a scam that I don't want nothing to do with it I lost money and that's the worst thing we can do to people like to me the real number go up technology is people joining the network
Because once you really join Bitcoin and you start studying and get vested, you put your feet in the water, you're not jumping out of that pool. Like this is a journey for the rest of your life. And that's why I think it's important for people to get an easy start and steady and not just get shaken out and, you know, pushed into the deep end of the pool. And then you realize, wow, they can't swim. Maybe they should have started in the shallow end.
George "Jethro" Bodine (36:06.882)
Let me ask you something. Do you think if you look at yourself, if you stood outside and you look down on you, Gigi, would you consider yourself like other people?
G G (36:08.37)
Yeah.
G G (36:13.457)
Hmm.
G G (36:23.195)
Might sound cocky, but no. I am different, but I can explain why.
George "Jethro" Bodine (36:23.404)
Are you different?
George "Jethro" Bodine (36:28.066)
Well, why don't we ask our viewers, if you're a hardcore Bitcoiner right now, why don't you go find a mirror and look at it and ask yourself, am I the same as most of the people that I know? Am I different? And I'll tell you the reason I say that. And I'll ask you another question here. I've spent years in this space. I have been preaching this to people over and over again, and I'm talking about friends and family. And I can count on
G G (36:31.151)
Okay. Yeah.
G G (36:42.557)
Mm.
George "Jethro" Bodine (36:55.67)
Not even, I don't even fill up one hand, not one hand with the people that have listened to me and bought Bitcoin. Now you've been actually in this space a little longer than I have, and you've been talking about it. How many people do you think you've orange pill that have been listening to you and gone, I'm all in, or I'm in or whatever.
G G (36:58.386)
Hmm.
G G (37:14.813)
If I'm lucky two hands, but probably a handful are the closest people to me
George "Jethro" Bodine (37:19.296)
Okay. So why, why is that? And, and not only why is it, but where is it going to go in the future? Where is it going forward? Because, you know, I'll just tell you what it's like in my country. The average reading age level of a U S adult right now is at a 12 and a half year old child. The average American spends seven hours a day between watching streaming TV.
G G (37:41.138)
Hmm.
George "Jethro" Bodine (37:48.626)
and on their phone, seven hours a day. The majority of content is streamed at less than 30 seconds so that they can keep their short little attention spans going long enough to, I don't know, get some fucking message.
I mean, there is a real chance going forward that it's going to be a very limited people that actually understand Bitcoin. And that when you look around someday, we may be the same, meaning Bitcoiners themselves, when we go to meetings and we go to conferences, we look around and we go, you know, these are my people. And you know what, when you step outside of the conference and you step in there where the normal, the normies, you may find that you're alone pretty much the rest of your life, because I'm not convinced that
I'm not convinced that the majority of people are ever going to understand Bitcoin or even have the need or interest. One of the reasons I think the movie Matrix resonates so well with Bitcoiners is because they realize one man stands up in the pod and looks around and sees all the other people sleeping. And once he wakes up, he doesn't want to go back. The key moment in that whole movie is when the character who is awake says,
G G (38:52.925)
speaking.
George "Jethro" Bodine (39:03.35)
I want to go back. I just want it to steak to taste good. I don't give a shit what it takes. I want to go back to my pod and go to sleep. So I know that it sounds a little bit dark, but if you're a Bitcoiner, it shouldn't. You know, it's probably mainly Bitcoiners that are watching this podcast. Maybe once in a while we're going to get somebody because new people come in all the time. And that's our hope. That's who we're trying to get here. We're trying to find one of those people that's in the pod.
G G (39:27.186)
Hmm.
George "Jethro" Bodine (39:32.664)
But that person that, you know, him or her, they're special. There's one pod in a whole group of pods and we're looking for that person. And when we find her and we wake her up now, she'll become a Bitcoiner. But you know what? The rest of those pods, I don't think they're going to open their hatch.
G G (39:52.477)
powerful stuff. What can I say? mean...
You have a very valid point, George, that this hyper bitcoinization is not going to happen in a decade or two where just everybody outside will be stacking sats and will fully get it. There'll be this, I don't know, Jesus comes down resurrection moment when everyone's like, aha, that that's what the secret is. I don't think so. I think it's going to be a long, sturdy road. And and to be honest, in my opinion, probably even in my lifetime, I'm a few years younger than you, George. I don't think I will see the majority.
George "Jethro" Bodine (40:26.814)
I'm 70. I'm 70 years old, but you're probably a lot younger. I've probably got t-shirts that are older than you.
G G (40:30.685)
Maybe 50 % so you've got a 50 % leg on on my lifetime, but you know I'm fine with that, know, to be honest Bitcoin in my eyes is a technology that's gonna be here for thousands of years it's not a matter of 50-100 years so and Unfortunately the system that's built and wow, let me finish this thought and then I'll go back to your question Why do I think most people still don't get it?
I think it will take the older generations which have controlled the systems to essentially die off and for the new blood to come through and be born into it. For example, my daughters, which I talk a lot on this podcast, are only five and three years old and they fully get it. They fully get Bitcoin. They see it. They know what a node is. They walk past the node every morning and say, good morning Bitcoin. Like to them, it's just, it's there. Like it's, I don't have to orange pill, nothing to them.
And I hope for any parents listening to this episode right now, the best thing you can do is teach your kids from the youngest age about Bitcoin and hard money how that is the truth. Because if we do that, that's how we actually change the world. And that's how we get more people on the team by not converting them, but bringing them up in the system that we've laid out here. And we will be laying out for many decades to come. But unfortunately, yes, where we are today, as advanced of a civilization as we are,
As you said, George, unfortunately, most people are doom screwing on their phone. it doesn't matter if they're 20 years old or if they're 60 years old or even 70. It's just kind of it's become the normal life. And it's not exclusive to the US. It's across the world. Everybody's doing it. And I guess the system that's in place has has done that to dumb us down, not to ask important questions, not even to stack SAS, but not to ask authority. Like, how do these people in in power, in finance, in health care?
in education can have such a say and bureaucratic authorization of how we live our lives and what we ingest in our body that the last thing they want is sovereign money and sovereign people living their lives. So I think it's going to be a battle and a fight that's going to be taking hundreds maybe of years. Rome, most people don't realize Rome didn't collapse overnight. took close to 200 years for the Roman Empire to really, you know, for the flame to go out.
G G (42:52.943)
Here we are sparking a revolution 16 years in and some people aren't hoping I'm thinking by 2030 half of the world will be holding Bitcoin. As much as I would love that, I'm in the same opinion boat as you are George that it's gonna take much longer than that and the fight is only yet beginning. We're not even there yet. We're at the point where we're not even polishing the blades. We're looking for raw materials and figure out how do we build a blade?
George "Jethro" Bodine (43:20.086)
Yeah, you're, when you talk about children, it's you need to think of yourself. You're in Zion and you're reproducing. You're actually making little Bitcoiners. That's important. You know, let's, let's continue. I want to take this down to even a darker road because usually I don't do dark roads, but we're going to do one right now. So if I'm right and the majority of people don't get Bitcoin.
G G (43:26.055)
Mmm.
Yeah.
G G (43:33.777)
Let's.
Let's go.
George "Jethro" Bodine (43:43.992)
Where do think that's going to be when Bitcoin does hit a million dollars a coin and you have all these newly created wealth titans and people that are suddenly, you know, their neighbors look around and they see them and they go, wow, why is this person so wealthy? Why are they doing so well? they're into Bitcoin. Well, that's not fair. They got into Bitcoin early. Why? I didn't have that opportunity. They were lucky.
You know, they just happened to get Bitcoin at a good time and look at now they have all this. Well, there's going to be a lot of anger. There's going to be a lot of resentment. And now that we politicize Bitcoin, now that in the U S we've turned it into a right wing, you know, Trump administration meme coin, you know what? Things change cycles change. And when you get a new administration in or things change, there's a very good chance we are going to be on the pointy end of a stick.
G G (44:39.749)
Mm.
George "Jethro" Bodine (44:39.98)
behind people that do not want to see us succeed. So in the future, Bitcoiners, I'm telling you right now, if I'm right, and it's going to be a very small group of people that understand and hold Bitcoin, then we need to stay together. And we better find ourselves a good place to go to in life because there's a very good chance they're going to be coming for you. And if you think I'm making this up, just remember the last administration, the Democratic administration that was talking about taxing unrealized capital gains.
How would you like to somebody come in and say, Hey, I see through KYC or whatever Coinbase, you know, client list, you've got three Bitcoin that's worth $3 million. We want 50 % of that now. And you know what? If they tell Coinbase that, if they tell an exchange where you've got your coins, if they're not on a hardware wallet that you have in possession of, then you're not going to be able to do jack shit. When they go to Coinbase with their pointy end of the stick and they tell them, Hey, you know what?
We need that Bitcoin. They're going to put you, they're going to freeze your account so fast. It'll make your head spin. So, and I'll tell you another thing. If you follow Tom Lee with funds rat, you know, great analysts, people just love this guy. He's on NBC, CNBC all the time. And, he recently put out a, I've got it on my Twitter feed, but he recently put out a clip and he said, and the third reason is people hate.
The third reason that people hate Bitcoin is because they are angry at the returns that people have realized. Now I'm paraphrasing here, but what he was talking about was hedge fund managers, how pissed off they are, the fact that some people got in early and are incredibly wealthy now. So.
G G (46:21.692)
Hmm.
George "Jethro" Bodine (46:24.596)
I'm just saying that corners, better be prepared, prepare yourself for what's coming because people are not going to be happy for you. They're not going to go, that's wonderful. I'm, I'm glad that you are now, you know, in a position where you can do what you want in life. You're wealthy. can relax. can retire. You have money to go out on vacation, have fun. People aren't going to feel like that. What they're going to do is they're going to get their head out of their.
phone or pull it out of their ass for 30 seconds long enough to watch some news clip about how you were lucky and got in early. So that's my rant and that's my dark side of the journey today.
G G (47:05.437)
No, I, you know, you brought up some really powerful points in there. The first one that I want to I want to comment on is showcasing what we have today. Still in 2025, people are showing how they're smash buying and putting screenshots on X to show to the world that they've bought a quarter of a Bitcoin or half a Bitcoin or I finally got that one Bitcoin. Anyone listening to this that you're doing that you are endangering and not just yourself.
for your family members and your whole lineage. Because as George said, in the future, when Bitcoin goes to astronomical fiat levels, the people are not going to be cheering you on. They're probably going to be hunting you down. And those screenshots will come to haunt you. you do not want to, you know, like in Fight Club, movie, the first rule is you don't talk about Fight Club. And rule number two is you don't break rule number one. So in Bitcoin is you never disclose your Bitcoin stack. And rule number two is don't forget rule number one. You never disclose.
alone putting screenshots and putting it out on X and all different platforms. That's the worst thing you can do. So that's the first thing I wanted to get off my chest that came to mind when you were saying those things, George. And yeah, I agree with you.
People are not going to be happy and they're always going to call us lucky that we were there in that place, just like a lot of people today say, people that bought Bitcoin for a hundred bucks were lucky. Yet, let's be honest, Bitcoin doesn't just land in your wallet magically. It requires actions and it takes your own decisions. And to a lot of people that we've been preaching Bitcoin for years, once they come back and say, man, but you got lucky,
And I know personally that I told them so many times, just buy a small share. You know, you can you don't have the right to call me lucky because like I've told you so many years before. then again.
G G (49:00.047)
What can we do in those positions? think the most important thing is just being humble. And if you think I was lucky, think that I was lucky. You know, it doesn't matter. I don't want to I'm not here to prove anything to anyone. And also things can turn very violent, very fast, especially if people are hungry. And the way that the money printer is going, unfortunately, as we've already seen prior to Bitcoin, the gap between the really wealthy and the poor is just like widening. And now I feel like post covid with the amount of money that's been printed.
even keeping Bitcoin out of the picture, that gap is going crazy. Recently, a few nights ago, was reading that Elon Musk today is on paper the richest person on earth that has wealth of $400 billion and he's on par to become the first trillionaire. So a person becomes a trillionaire by the year of 2027, which is a mere 24 months away. Now, even though that happens or it doesn't, it's relevant, but just the fact that
There's people that have hundreds of billions and most people are struggling to pay their bills and they're working two, three jobs today. Those people will be struggling even more, unfortunately, in two years time. And then when Bitcoin goes to a million and beyond, my God, like there's going to be a lot of hungry eyes looking at you. So as you said, it could get dangerous from an administration point. As you said, the next president next, you know,
whatever lawmakers decide to do can put you in danger, but also the average person out there or not even a person in the streets, but someone that's been snooping you on the web for many years that you have no idea has been snooping you, you are exposing yourself to external threats. So take away from this, my Gigi's rant is like, be very cautious. Think twice before what you post online. And especially when it comes to Bitcoin. And the final thought, and I'll pass it back to you, George, is
If that time comes and there is a high probability that time will come, the best thing you can do is vote with your feet. You pack up wherever you are in the U S Europe, Asia, Africa, wherever you are. And you go somewhere where it's a much more comfortable place and where there are people of your kind. May that be Madeira that's had has a great community. Salvador that has a great community.
G G (51:18.503)
There's places all around and these even small ecosystems, you don't even have to look as a country as a whole. There are small grassroots circular economies all over the world. There are some even in the middle of a jungle, which you are essentially in that country like Costa Rica, what Francis from Bull Bitcoin has done fantastic over the last few years. And they have no strings attached to the government, even though it's Costa Rica, but the government does like they're just jungle people to them, you know, like, so look out, vote with your feet. And the last thing is, of course,
self custody. If you have your coins, you can pack up your bags in two hours time, get onto the airport and fly out. is no moving funds out, getting rugged by amount of KYC they need to provide or even worse if you need to do X amount of documents, just keep those sats in cold storage. And if you don't know how to, there's a plethora of tutorials out there. And if you're lazy enough and you want a quick route, Gigi has a become unruggable.
shameless plug in here, but honestly, I do it not to make money, but to help people reclaim their sovereignty. And it's so easy in today's day to hold your keys that if you're not, no excuses. So back to you, George.
George "Jethro" Bodine (52:27.724)
Yeah, I agree. And that idea, the fact that you can escape with Bitcoin is the key. You know, you can take 12 words, memorize 12 words, and that's enough, by the way, for a seed phrase. That's enough entropy. That's like one atom in the universe. I mean, to determine. So just memorize your 12 words. You can go across any border you want. Next thing you know, you're free. You have all your wealth. They can strip search you, anal probe you. They can do whatever the hell they want. But at the end of the day, when you cross that border,
G G (52:38.971)
Yeah.
George "Jethro" Bodine (52:56.438)
Even if you're naked, you have all your wealth with you and you can't do that. There is no other asset on earth that you can do that with. think about the power of that. You know, at one time we used to have bearer bonds and, and you could actually have clip coupons. remember years ago, they, actually had these, you know, but the thing is that they were always physical. They could always be taken from you, but we're talking about storing 12 words in your head and being able to cross the border.
G G (53:05.116)
Mm.
George "Jethro" Bodine (53:25.832)
and be free with all your wealth and tech. That's an incredible superpower.
G G (53:31.225)
Yeah, as Knut Svanholm, our good friend says, essentially Bitcoin becomes a part of you once you memorize those 12 words. And of course, it's not that we're preaching, just have them, you know, have them stored in your mind, have some backup somewhere. But when when when shit hits the fan and you need to cross the border and they're snooping you down from head to toe, you can memorize those 12 words and there's no technology that can scan your head or your brain to get them out. There's absolutely nothing they can do. And if they kill you,
They kill that bitcoin that bitcoin goes to the grave with you. So it's very powerful when when you realize that That the bitcoin actually becomes a part of you. Once again, no other asset gold doesn't merge with you Even if it's up your rectum, it's still gonna come out. It's not gonna become a part of you. So There's some powerful things behind it Yeah, shout out to knut. I mean what what he when he initially said it a few years ago
George "Jethro" Bodine (54:19.628)
Yeah, well said. I love Newt.
G G (54:28.419)
It took me some time to get it. Most people that have heard this sentence right now listening to this episode, they'll be like, what's Gigi talking about and Knut saying that, you know, Bitcoin becomes you. But it takes time. Process it. And talking about Knut, read his books. It'll make a lot more sense where that came from. But yeah, I guess.
We went down a gloomy road, but that's also good because it's not happy days everywhere. know, life has its ups and downs. And to be honest, I think a lot of podcasts should bring up these topics, which are a little bit more raw and kind of to give a little bit of a wake up call because a lot of people now are just talking about when Bitcoin one million, you know, where all these treasury companies company coming in, things are pumping, you know, where we're just going up.
Yes, we are, but like there's still things to consider and plan ahead. And being a Bitcoiner, the fact, what we just said, that you can pack up and leave makes you the most freest and most dangerous person in the eyes of the government because suddenly they can't control you. And I think for a long time they will be bootstrapping their propaganda system. that be
TV ads, may that be the social media mania, all of that to try and keep as many people in their pods asleep. Because if people start popping out of those pods, it's going to be very hard for the governments to keep them in. more importantly, have the control over them, which is their end goal. Like they are planning with their central bank currencies and all these regulations that are coming out and declare this and declare that. It's just insane. Like to me in the last 20 years, I remember prior to
to 2001, the terrorist attacks when Twin Towers went down. You could fly at the airport with nothing. There was hardly any checks, nothing. Post that, the fight on terrorism, which was started by the main terrorists themselves, the states on individual people, has just gone parabolic, where today you need to declare everything, prove everything to everyone. Soon you're gonna have to be swiping your inner cheek to prove it's really you. And we just blind walked.
G G (56:38.937)
into this over the last two decades. And if you're still not getting it today, my God, like what kind of wake up call can we give them, George?
George "Jethro" Bodine (56:49.634)
Well, most Bitcoiners though do get that. What you're talking about right now, most Bitcoiners understand it. It's the, again, just go back to the normies. It's the normies that don't understand this. Bitcoiners get it. Bitcoiners get the fact that we are working to be sovereign individuals. We want to be free. And, you know, let's talk about what that world's going to look like for us. For one thing, if you think about if this is going to be a remarkable transfer of wealth to people that are like ourselves,
G G (56:52.37)
Yes.
G G (56:57.317)
Hmm... The pre-coiners.
G G (57:07.868)
Yeah.
G G (57:12.199)
Hmm.
George "Jethro" Bodine (57:19.406)
Most of the Bitcoiners I meet are very, they're moral, they're hardworking, they question authority, they're deep thinkers, they read, you know, they have an attention span greater than that of a nat. And they are the people that you want to hang out with. They're the people that you want to build things with. Imagine where we're going to go if we, if we do what I said and we find our own little country, own island or, or we end up settling in a community in groups, you know, as Bitcoiners.
It's going to be an amazing world to see. I look forward to being in that particular community. That's one of the reasons why I'm trying to take care of myself and keep working out and stuff. I want to see this world in front of me. And it's going to be a beautiful world. Imagine a place where people understand the concept of what money, hard assets are. And we have a currency that is basically not being devalued, but actually growing in value.
G G (57:59.142)
Yep.
G G (58:14.94)
Hmm.
George "Jethro" Bodine (58:16.02)
It would be such an amazing thing to see for planning purposes and to try and build on. I just cannot tell you, you know, if you're young today and you're stacking Bitcoin like a smart psychopath, which is how I recommend to do it, and you are going to see that you're going to be in that world. And, you know, as the world turns to shit and if you believe in the fourth turning and you see what's going on around you and you are a family member, you're raising your kids right, you're going to get to escape that.
You're going to open that pod and you're going to escape and it's going to be a bright future for those people that are willing to put the work in to get there. And Bitcoin is hard work. You know, it takes work. You didn't get lucky. If you're sitting here right now with Bitcoin, you're not lucky. You worked your ass off to get here. And you know, you got to hold onto it. I hold mine in a fucking fist and nobody's going to get it. And I have had to change things around here quite a bit because of, I worry about like physical attacks and stuff, but
G G (58:56.934)
No.
George "Jethro" Bodine (59:14.39)
Nonetheless, when I need to, I can do just what you said. I can get my Bitcoin where I need it to be so I can put it into cold storage and actually memorize 12 words and take off with it if I want.
G G (59:27.213)
Yeah, yeah, and you know, just to add to it, I fully agree that once you get to know the true Bitcoin maxis, which on the surface may think as they're toxic people, but actually they're some of the most kindest and humblest people out there, wearing, know, flip flops and shorts and a tank top and not driving a Lambo and a Gucci suit. Those are definitely not Bitcoin maxis.
They in this new world that we're building, we won't outside investment to build things, as you said, with communities, because if the purchasing power goes to where we believe it's going to be going collectively, don't already don't need to ask any permission, but we don't even need to go to a bank to get a credit to build the things that we want to build together. We will have all the access from all the nutrition, all the building materials to ideas, to craftsmanship, to most importantly, dedication and
As you said, being a Bitcoiner is a hard thing and I guess, pun intended, proof of work is not just for the algorithm hashing away, it's actually for your physical proof of work, putting in your hours, figuring out, dedicating your time and energy to this network, which is still in its early days. And I think in the future, it's looking super bullish, even though...
The world in general is going to shit and it's going to be going to shit for a while as well. This is not going to be a first, fast, fourth turning, no matter what people say, least in my eyes, it's going to take maybe a decade or even two. But we don't have to wait and go down with the sinking Titanic. We have a chance of getting on that raft, going off, finding out our new land and building this new world that we want. And we'll just have a head start in the next turning that's going to come around.
George "Jethro" Bodine (01:01:12.118)
Yeah, and one of the reasons why I try to paint what I call the Bitcoin life is because, you know, I've got a glimpse, I've had a chance to see what this is like. And you mentioned it already, but time preference is the biggest thing for me. That's what's really changed more than anything else. I'm not I find that time has stretched out for me. It's like I'm not concerned about the things that I used to be. You know, for one thing, I'm not plugged into the financial pages anymore, looking at prospectus or
a 10k or watching what a CEO is doing or the FOMC or if J-PAL gets out there and makes a statement, I really don't give a shit what those people are saying anymore. They don't mean anything to me. It's like I'm outside that system. And if you're going to, know, we work really hard to get outside that system. It's one of the things that Bitcoiners do. So we're out there. We're trying to get away from the system. Well, live that life then. If you're doing that and you're working to get yourself out the side, then live it. Meaning
I don't mean to say don't sweat the small stuff. What I'm talking about is the fact that if you really understand that you hold the greatest monetary invention in the history of mankind and you know where this is going, then you should be able to just start relaxing and breathing. as Bitcoin's price continues to go up and to the right, as it will, there will be a point where you can truly just escape this system and live outside of it.
And that day is coming. And so you need to envision it, picture it, find out what it is you want to do in life. You know, I went to a dinner last night and after the dinner, a young man started playing a piano. It reminded me of like a sitting room in the 1880s, you know, we're all just sitting around listening to this beautiful music. And I was thinking to myself, this is the way things used to be, meaning nobody's got their phone out. They're not plugged into some
G G (01:02:56.029)
Thank
George "Jethro" Bodine (01:03:07.318)
or shit, they're actually just plugged into each other, just enjoying the moment. And part of that is because if you, if you can just envision that future, can happen. So think about what you want to do in that future. You know, what kind of new, what kind of new things you want to do in life? What's something that you've always wanted to do that you never did? Where do you want to live? What kind of a world you want to be in? If you're not married, are you going to find that person that
you're going to go through life with, walk hand in hand, are you going to create children? What kind of world would that be for you? But just try and think outside the box, try to think outside the hamster wheel and picture this future where you're going. And if you envision it, you can make it happen.
G G (01:03:53.415)
manifestation that that's for sure and You know, have this saying George go out and touch touch some grass I guess more people should be spending outside more time and touching more grass and not worrying about where the next support level is and then and where are we gonna go next week and Guys like if you've been stacking for a few years, you've disturbed the right to go and live in the moment because at the end of the day The greatest asset beyond Bitcoin is your personal
time because that's the scarcest thing that's even more scarce than the 21 million Bitcoin because that's going to run out much faster than the supply of Bitcoin and most people they just so focused in some cases too focused on stacking sats and not touching a single sat no no no like I need to just keep on smashing away working three jobs a day to stack X amount of Bitcoin which may be some listeners prior to
we discussed some half an hour ago, they might be thinking, holy shit, like I just need to work my ass off for the next 20, 30 years to stack as much Bitcoin as I can. But no, like at the end of the day, enjoy the time as well while you're here. And Bitcoin allows you to borrow your time from the future and live it today, which no other asset class allows you to. And at the end of the day.
As much as we try to be fit and I also try to live a healthy lifestyle to see my girls grow and see where we're going and contribute for as long as I can. For all I know, tomorrow I might not wake up from my sleep or some tragedy happens. There's some, an event outside of my control and I'm gone tomorrow. What is the point of me holding on that stack and not spending a single thing and not taking time off and really spending time with the things that I cherish the most, which is time with my kids.
taking them to nursery, going afterwards to the parks, walking my dog, not looking at the time, my God, I have another call, I need to return back to the office. There's none of that bullshit which I had previously prior to going full-time into Bitcoin, enjoying the things. And you know what's funny, George, and maybe you'll relate to this, living a Bitcoin life, you realize that the greatest things that give you the most joy are actually free, you know?
G G (01:06:05.463)
You've recently I know you've been on a on a hiking trip out in the beautiful Colorado. You know what I just mentioned going out to the park going, you know, like doing things that actually don't cost any monetary value. I'm still stacking. I'm still spending any sats or any fiat, but I'm just enjoying my time. And that's what Bitcoin gives you. You people think that all bitcoins about the Lambo life or like buying a mansion. I don't want to mention like how much shit and headaches you need and how much taxes you need to pay. I'm I'm
As you said, we're out of that system. I don't want to go back into that system. To me, the full freedom is to say, I've got the fuck you money. Fuck you to the system. I'm spending times on my terms with my family and doing what I want every single day, 365 days a year. If I want to record these shows, I'll record these shows. If I want to take a year out, I'll take a year out. There's no one like I'm in full control over my life. And like, that's the most exciting thing to me.
Bitcoin at 1 million, fantastic. But even Bitcoin at 100,000 allows me to live this because I was disciplined in my stacking for many years, stacking, stacking, bam, bam, bam, bam, to at some point saying, you know what, fuck it. Like how much do you need to stack you? It's like being a millionaire. Once you get to a million, it's not like you're happy. You need 10 million and then you get to the 10 million and then you need 100 million and you always, you're always like this greed factor. You never run out and then you're 75 years old and you're all ill and you're all like twitching on a chair and like...
Why, like?
George "Jethro" Bodine (01:07:30.508)
Hey shit bud, you know that's only five years for me so I hope I'm not twitching on a chair.
G G (01:07:34.077)
85 85 let's put let let let's let's leverage that up to 85 or 95, you know But like I mean some people my father for example who is younger than you George? Worked his whole life to provide me and and our family everything we ever wanted and in the last 12 years He's had 11 strokes every year. He has a stroke sometimes minor ones sometimes stronger ones He had to relearn how to walk. He had to relearn how to talk. He had to relearn how to write
My dad was a super entrepreneur in his lifetime. He had a bunch of friends. He was the life of the party. When my dad came around and he always paid the bill, he was the, he really lived the high life. He smoked like a chimney. He drank like a, like there's no tomorrow. And then boom, at the age of 60, he just started hammering and hammering and hammering. And I saw this in my own eyes and I had this shock where my dad as the role model went from living the peak life.
to collapse in and me being there by him and all of his friends that always were there and celebrating him once he wasn't there to pay the bills to do everything, everybody forgot about him. And that to me was like, wow, like a reality check that people actually it's all about the money to them. And at the end of the day, screw making that X amount of money and making other people happy. I'll focus on me being happy and making my family happy. That's why my philosophy is not to make as much money, may that be fiat or Bitcoin, but to be there for my family today.
tomorrow and in 50, 60 years time to really be able to do the things, to take the hikes that I want to go, to do the scuba diving that I want to do and not be in a position where essentially I need assistance for everything in life. So there was some strong lessons in my life and experiences that were super powerful and traumatic that set me on this course. And I'm just trying to signal this out to people that don't, don't stretch yourself.
Enjoy the moment and I love what you brought up, George, know, the fact that people don't cherish the now. And as I said, some of the most beautiful things in life are free and they're accessible to you today, not in 10 years time when Bitcoin is an X amount of fiat.
George "Jethro" Bodine (01:09:40.45)
Yeah, that's very well said, Gigi. mean, seriously, that is very well said. So I think, you know, if you're watching or listening to this, then really the question that you should ask yourself is, you know, what is that point? How much do I need? You know, and at some point you need to transition, if you would, realizing that, yeah, life is very short. You know, take it from somebody my age. health is everything. If you lose your health, I mean, it's you, you're toast and it's a very difficult.
G G (01:09:53.585)
What's your freedom number?
G G (01:09:59.185)
Hmm.
G G (01:10:05.212)
Yeah.
George "Jethro" Bodine (01:10:09.996)
going forward if you don't have your health. And then time is our most precious gift and it's numbered. Every one of us has a number. We have a block height, a block size height that we are going to get to and that's it. When you get there, you're done. And nobody ever took any sats with them. When you go down to the river Styx and the boatman comes for you and carries you across the river, you know, you don't take any sats with you. All you leave behind are memories. You leave memories of who you were and what you did.
What we do here now echoes through eternity. And there's truth to that.
G G (01:10:44.409)
It is and passing down the legacy like passing down the sats that you were hard stacking in the early days of Bitcoin. Even today, I would argue in the in big picture of things are still the early days, you know, 50, 100 years down the line. It won't matter if you bought Bitcoin five years from the Genesis block or 15 years. You're still in the early stage. I mean, you're leaving behind.
a ridiculous legacy and yeah, just to add to what you said, going back to my father that I mentioned, he has a great quote. says, you enter this world butt naked, you leave this world butt naked. So you might as well enjoy it while you're here. He took it a little bit too close to heart with that quote. He really lifted high.
But then it's a reality check. Maybe that could have never happened, you know, like his health, you know, there's some people that smoke and drink into their hundreds and they never have anything, you know. So it's not a rule that I'm saying like, don't drink or don't smoke, do everything in moderation, whatever you want. But probably if you go deep down the Bitcoin rabbit hole, you realize that a lot of toxins that you've been putting into your body, maybe you shouldn't, or maybe cut it down to the minimum just to still enjoy life. Because there's some people that were...
As much as we're the same, we're still different and some people enjoy some vices and you shouldn't live this, you know, Mormon life or a monk life where you're like, no, I will never have a glass of red wine or that, you know, that expensive whiskey that I celebrate a big achievement in my life that I've been working for a long time or that cigar occasionally. You know, there's things you can do in moderation. Just don't overdo it. And in today's society, it just programs us to abuse these systems. And then we, end up wrecked.
George "Jethro" Bodine (01:12:23.158)
Yeah, well said.
G G (01:12:24.093)
So I guess where do we take it from here? We went down a very dark rabbit hole. We went to a positive one. We're still on a positive one. We spun up some real truths about enjoying the moment and don't get wrecked financially and health-wise, which I would say health is even more important than wealth because wealth you can always regenerate. But once the health goes out, it's a steep slope to get back.
What else do want to discuss, George, or do you think we missed?
George "Jethro" Bodine (01:12:58.092)
Yeah. Let's what I'd like to, you know, as we kind of wrap things up here, let's, let's talk about, let's talk about a couple of things that seem to be, that are on my mind. And, and they are, they are a little bit like concerns, meaning, you know, I don't want anybody that's listening or watching this or something. I want to make sure that people kind of protect themselves going forward. For one thing, I, I, I've been in this space long enough and
G G (01:13:10.066)
Hmm.
George "Jethro" Bodine (01:13:27.202)
because of, I guess, just some unique things, I've managed to be around a lot of different people that are, I guess you'd call them influencers, so to speak, in this space. And I want you to know, these are just ordinary people, and some of them have agendas, and you just have to understand that. So when you listen to people, even myself, like this, you should question everything I say. And if you use that,
going forward, that's going to stand you in good stead. You know, this last cycle that we went through, I mean, it became very clear to me looking back that there were people involved in this space that definitely had an agenda and it wasn't necessarily for your benefit. Their agenda involved their own, you know, whatever their own plan, so to speak, that they had. And then the other thing that kind of couples in that is I want to talk about some of these Bitcoin treasury companies because
G G (01:14:23.687)
Mmm.
George "Jethro" Bodine (01:14:25.44)
It's becoming the flavor of the week here lately. Now, I've already divulged that I'm invested in MicroStrategy. I'm a strong believer in strategy's unique position in this Bitcoin treasury company space. And that is based upon both their size, their vision, their transparency, et cetera.
G G (01:14:34.225)
Yeah.
George "Jethro" Bodine (01:14:53.836)
I'm confident I've done research on MetaPlanet and quite frankly, because of their unique position within the Japanese market, I'm comfortable being invested there too. And again, what have they done similar to Eric Semmler? What have they done? They've been transparent. They've told you our goal is to buy nothing but Bitcoin. We're not going to sell our Bitcoin. We're going to accumulate as much Bitcoin as we can. And then you have every
every company on the planet now starting to move in this direction and it's going to accelerate. So if there are 160 to 200 companies now, pretty soon there's going to be a thousand companies. Maybe within a year there's going to be thousand companies that are telling you that Bitcoin is part of their treasury operation or part of their balance sheet. Many of them are going to be relying on what we call MNav, the idea that there is a premium associated with that company
And therefore, when they purchase those bitcoins, they are going to accrete more Bitcoin for you per share.
So I'm going to tell you something that you should think about. If that is true, if they have a premium to their underlying asset, which is what an MNAV premium is, and they are buying more Bitcoin per share for every time they go out onto the market, either an ATM or maybe a convertible bond, what is going to happen?
If we have a downturn significant enough that those MNAVs begin to compress towards one, what if I told you that in the future, maybe five to 10 years down the road, all MNAVs should probably compress to one, which makes sense because there's only 21 million Bitcoin. So what if the MNAV actually went to a discount? Now we've already seen strategy. What did they do when they're
George "Jethro" Bodine (01:16:54.978)
They actually went to a discount. What did they do? They didn't sell anything. They kept their Bitcoin. They kept stacking. I expect MetaPlanet and other companies like that to do the same, to view it as a buying opportunity and to continue to, if not stack, because there's no premium, to at least hold on to the Bitcoin that they have.
What about these other companies? If they're accreting in an NNAB that's positive, what about when it goes negative? What if these other companies, these 100, 200 companies, some of them are miners, Bitcoin miners, what are they going to do? What should they do if their mandate is to protect the shareholder? I'll tell you, if you work it out on paper, they're going to start selling that Bitcoin.
And they're going to acquire their own shares because that's what they're going to do to protect the shareholder. There is a possibility of what's called a recursive feedback loop in these operations going forward. So I just want you, if you're a Bitcoiner and you're investing in these companies, you should understand what these risks are going forward. And I'll finish it on a positive note, which is this.
All the things that I just discussed should tell you that above all else, the most important thing that you can do as a Bitcoiner is to acquire Bitcoin, keep it in cold storage in your possession with your keys. And then again, doesn't matter if the rest of the world gets pissy at you. Doesn't matter if they are mad at you. Doesn't matter if administration comes along that wants to take your Bitcoin. Doesn't matter what happens to these treasury companies.
None of it matters. And if I hold Bitcoin, which I do, and I hold MicroStrategy, which I do, and I ever had to sell one of those, what do think I would sell? I'd sell every bit of that strategy shares, every bit of it. I don't give a shit what sailors doing or anybody else. I care about Bitcoin. Bitcoin and cold storage is the ultimate risk off at set and will set you free. So.
George "Jethro" Bodine (01:19:12.694)
I just wanted to get that out.
G G (01:19:15.119)
Amazingly said, and it's definitely something that people are definitely not talking about, at least publicly on the town square of X at the moment, everybody's talking about, you know, all of these Treasury companies coming in. But I had the same thought, George, but I didn't get a chance to discuss it with anyone yet. Where are
George "Jethro" Bodine (01:19:33.826)
Well, we're discussing it now.
G G (01:19:35.577)
I know. I'm happy you brought it up because I agree with you. know, I haven't done so much studying into them as yourself. And for disclosure, I don't hold any stocks, including strategy or MetaPlanet, but I have nothing against other people doing it.
I realized that from my gut is telling me that at some point when things are going to go sour and it won't be favorable. It's like if you look back seven, eight years ago when I started my journey and blockchain was the main thing. Every company that added blockchain to their business operations, their shares just went through the roof. was 500, 600 % gains.
Same thing we're happening to see we've seen today with companies coming out and saying, oh, we're starting a treasure and we bought 50 Bitcoin, 100 Bitcoin and put it on our books. And suddenly their stock price is booming. I'm like, I've seen this before. And that didn't play out good before. And I don't think it's going to play out good this time as well, because yes, strategy are a bit of a different beast. And they were essentially the first ones to start doing it. So.
If that house of cards is going to go down, they're the last ones to go down. But I think the smaller fish are the first ones that don't have this low time preference that are doing it in the hype cycle. How do we sustain our business that's already practically dying, just like MicroStrategy was, but they're in a different league. But at some point they're going to have to start selling that Bitcoin. Because as you said, their main priority is keeping their shareholders happy and not being sovereign companies.
George "Jethro" Bodine (01:21:04.398)
I want to make sure that I do put out the fact that I don't think this is from being over leveraged or debt. In other words, this is not like the last cycle where we saw companies over leverage or lending to each other the same thing, starting out with fart coin and then levering on fart coin. then basically they all became inbred. And when one failed, they all deleveraged. But that's not what I'm talking about with these companies because like
G G (01:21:11.054)
No, no,
G G (01:21:17.53)
Mm.
G G (01:21:25.181)
Yeah.
the whole cards. Yeah.
George "Jethro" Bodine (01:21:33.022)
We'll just use strategy again when they issue at the market or these convertibles that they're doing the perpetual preferreds They're actually not and they're not over in debt. In fact, many of them over collateral collateralized like I think maybe 50 to 1 on some of them so that's not the issue and and the issue really is what I'm talking about if Bitcoin has a downturn and these MNavs compress or as we get more and more companies in the space They should naturally compress
G G (01:21:34.62)
Hmm.
G G (01:22:02.673)
Hmm.
George "Jethro" Bodine (01:22:02.834)
That begins to make, it should make you just a little bit nervous because it's not again that they're going to be over leveraged, although some of these new companies may be in fact, or who they're lending to. And that's another thing that's coming down the market here. We are going to see all kinds of lending products coming for us. mean, tremendous innovation right now occurring in the Bitcoin lending space.
from mortgages to bit bonds to everything you can imagine that's going to have some kind of yield on Bitcoin. I'm just talking about the fact that naturally you should follow that MNAB number probably more. I think it may be the most important KPI or that you're key to focus on other than... Well, actually, I think that of all the Bitcoin treasury companies, I think that is the metric that you should follow the closely.
G G (01:22:56.199)
But you know what I find ironic, George, if we take a sideman's perspective of what we're discussing here about what we're currently seeing with people flunking their cash to buy shares of a company that takes those shareholders cash and then goes out and buys Bitcoin and puts it on their treasury and they hold their keys.
Wouldn't it be incredible if those people would just directly buy spot Bitcoin, smash buy and put it into cold storage and avoid all of this hypothetical downturn that we're discussing that could possibly happen? Isn't that crazy?
George "Jethro" Bodine (01:23:25.015)
Ha ha.
George "Jethro" Bodine (01:23:30.284)
I like that. Yeah, I do like that. But you the thing is you have to realize, you know, for me, I ended up in strategy because it was an ETF program and stuff. No, no, but, but I want to say, I want to say something, which is that, you know, I've always framed that decision in holding some of these companies as one of leverage and really, because let's face it, they have the ability to raise capital.
G G (01:23:36.869)
No. I didn't mean for you personally,
George "Jethro" Bodine (01:23:59.864)
that I cannot. And so if you look at their performance of say strategy, since I've held it, they have done just what they said. They actually have accreted more Bitcoin per share. So if I liquidate the shares and get a fiat dollar price, I can actually turn that into more Bitcoin. And it's I mean, I can prove that it's just on paper. So it works in that sense. But what I'm trying to say is that you should be very careful because
G G (01:24:10.191)
Outperformed Bitcoin. Yeah.
G G (01:24:19.9)
Hmm.
George "Jethro" Bodine (01:24:29.76)
Not every company is going to have the access to those markets. Again, strategy, if you just look at them, and they're the beast, they are the elephant, they are the storm that everyone is being sucked into. If you look at them, they are actually entering these capital markets. They're building out a yield curve on these products that didn't exist before. And they are showing TradFi that this market is much bigger than what you think.
G G (01:24:33.541)
Yeah.
George "Jethro" Bodine (01:24:57.868)
And they've developed relationships with these QIBs, these qualified institutional buyers. And they're shopping these yield products out and they're negotiating how they're going to work. So they're doing it all right. I mean, I don't have any complaints. I'm just saying that, you know, all these wannabes, all the clones that are coming into the market, if it's a thousand next year, you know, you should probably look at them pretty carefully before you start investing in them.
G G (01:25:23.463)
That's fantastic advice. Yeah, you know, at the end of the day, do your own research. We, as we say in the space, don't trust verified. Check it yourself. But you brought up a fantastic point, you know, from strategy. Love them or don't love them. They're like this norecho whale that, you know, when it opens up its mouth, it just sucks everything in and it's like a black vortex. And that's what is happening today. Like.
Michael with strategy is really playing not even for the 5d chess like he's laying out new instruments like and sometimes you you listen to some of the stuff he's saying and I I lose track of it. He loses me like halfway through through his thought on that one point But yeah
Don't think that every company putting Bitcoin on their books will be strategy 2.0. Just like there is no second Bitcoin that outperformed it and kind of Bitcoin place the rules and similarly with the treasury set up strategy is setting up the rules. So tread carefully with your investments.
G G (01:26:27.037)
Do you want to round it up on that, George, or anything else that's been on your heart or your mind recently that you wanted to touch upon since we're on air?
George "Jethro" Bodine (01:26:36.59)
You know, I just want to get back to that idea that, you know, at the end of the day, this is a very short life that you're involved in. And it may not seem like that if you're young, but looking back over, you know, I've lived a life that's just very full and rich and action packed, more so than...
G G (01:26:47.197)
Yeah.
G G (01:26:58.287)
I mentioned in the intro, we didn't even go into it, but like you've lived, George, a life compared to like five, six different people combined into one.
George "Jethro" Bodine (01:27:08.076)
But, you know, I'm just, I think what I'm getting at is I'm very lucky to be alive, you know, looking back, I'm just very grateful for it. And so, you know, if I can give you any insight of what it's like to be, you know, getting to a point where you're looking out on the horizon and you can see your own block height out there, you know, it's coming for you. You realize that the things that were really important or something that you touched on earlier, they're all free. They all involve the things that are.
G G (01:27:12.839)
Yeah.
G G (01:27:26.929)
Hmm.
George "Jethro" Bodine (01:27:35.246)
close to human beings over the last 10,000 years. And that's just relationships with people, the people you love, friends and family. You know, if you really understand Bitcoin, you're going to be at peace. You're going to be at peace. doesn't matter what the price is doing. You're going to be at peace, even if other people aren't stacking. You know, if your family kind of thinks you're an idiot, you're just going to be at peace with it because you know you're stacking for them and for your, you know, the people you love and, and,
You know, take care of yourself, you know, work out. get to be past 50, 50 is the age. When you get past 50, you got to work out every day. You just work your ass off. mean, you just work, work, work, work. And then, you know, live a good life. mean, and be, be happy and cheerful, you know, and, engage with other people. I know I'm talking a lot this particular episode, but you know, you met me there in Prague in real life. I like to listen to people. really do. Cause
G G (01:28:28.145)
Yeah, of course.
George "Jethro" Bodine (01:28:30.806)
I know my story. I like to listen to other people and hear what they have to say. Anyway, you're just going to have a great future, kids. It's going to be incredible. I'm really both envious and really excited to see as much of it as I can unfold.
G G (01:28:46.981)
Amazingly said that I love it George and thank you for being a part of this journey and sharing everything that you share You know, I highly recommend anyone that hasn't been following George Bodine on on X to go and follow him because the inspiration that you do by You know living the Bitcoin life and putting it out there Maybe not so many people get converted But even if it's a handful of people that go wow, like George is really living that life like that inspiration at least to me I'm already living my Bitcoin life, but every time I
one of your posts, I read it thoroughly and it gives me a reassurance that I've made the right decision not to chase that promotion, chase that...
big money, it's all about living in the moment, enjoying and living on your own terms. And at the end of the day, going back to we're here to love each other, enjoy mother nature, help out each other and try and make this world a little bit better when we leave than what we found it with when we started our journey.
George "Jethro" Bodine (01:29:48.354)
That sounds good bud. I've had a good time. I'm glad we did this, Gigi.
G G (01:29:52.413)
Yes, likewise. And I'm glad that I met you in person just a couple of months ago in Prague. And I look forward to again, as I mentioned recently on a comment of one of your posts, hanging spending more time with you around the world. May that be Prague next year or somewhere else. Because at the end of the day, what we're left with are the experiences that we have with our loved ones, with family and close friends. And yeah, everyone listening, we hope you enjoyed this episode. We took you on a roller coaster ride, not just on price action, but
actually on emotional action. And at the end of the day, some topics are hard to listen to, but it's important to discuss them. And I think we took a unique take with George. So thank you so much, sir, for coming on, sharing your thoughts, doing everything that you're doing. And I truly believe that you have a long, still journey ahead. And I look forward to doing this again and seeing you in person soon.
George "Jethro" Bodine (01:30:46.296)
Thanks Gigi, you have a great day bud.
G G (01:30:49.059)
And thank you for everyone for listening. Please, if you enjoyed it, drop a like, share it with family and friends, whoever you think really needs to hear this story. And yeah, we will see you next Tuesday. Stay curious, stay sovereign and until next time. And we...
Welcome back to Your Bitcoin Story, the show where we uncover the journeys, awakenings and transformations behind the people who found their way into Bitcoin. I'm your host, Gigi, and today we've got an episode that's as wild and inspiring as it gets. Our guest today is none other than George Bodin. And buckle up because George has lived many lives. He's a professional artist today, but before that, he had different jobs wearing different hats.
from oil field worker to cab driver to miner to police officer to Navy fighter pilot, top gun graduate, and also a Delta Air Lens pilot. Yes, that's all one man. George's story is one of grit, curiosity, and reinvention, and ultimately a journey that led him down the orange rabbit hole. George, welcome to the show, sir.
George "Jethro" Bodine (00:59.498)
I appreciate that. Thanks. Yeah, we're going to have a great ride here because there's a lot of things to talk about. You know, it's July 30th right now. Bitcoin price is about 117. We just went through one of the most incredible events over the last weekend, which is we saw we saw eight billion dollars worth of Bitcoin, 80,000 Bitcoin come onto the market. And basically, I assume based upon some of the
messages that were released from, I believe it was Novigrad and his company Galaxy talked about the fact that they had sold these as part of an estate planning liquidation. yet the Bitcoin price hardly moved. I mean, I think it went down about three and a half to 4%. That's remarkable. I mean, that's an incredible event. I think, you know, if you'd have done that three years ago, Bitcoin would have crashed probably 20%.
G G (01:40.818)
Mm.
George "Jethro" Bodine (01:56.448)
as it was, it not only did it go down a little, but then on top of that, this was in a period of very low liquidity. You know, the weekend is right now, it's kind of reversed. Nowadays on the weekend is when we have less liquidity in the system. So they, they, you know, basically liquidated these coins and over the weekend, it recovered by the time we came around to Monday, the price was back up right where it was before. That is an incredibly bullish sign for people. you're
If you've been in the space for a while and you picture 80,000 Bitcoin being transferred in ownership, just the signal alone to have some old 2011 Satoshi era wallet to be put onto an exchange, just the movement of the wallet to the exchange would have crashed Bitcoin before, let alone trying to sell it in a fairly short period of time with low liquidity using some OTC sales I've heard.
In other words, not really using probably the best, most optimal methods to get rid of that Bitcoin. I mean, that's pretty impressive. I mean, it should make you incredibly bullish and really confident that there is some kind of underpinned bid to Bitcoin right now that is just off the charts.
G G (02:58.439)
Mm.
G G (03:13.661)
It is no indeed. know, as you said, George, if this would have happened like five, six, seven years ago, proof we would have seen not a 3 % pullback. It could have been 30, 40 % drop in a matter of hours. And as you said, you know, 80,000 Bitcoin today's market value of around give or take $9 billion just like, poof, liquidated in a matter of hours. And if you didn't open the charts over the weekend, like, you know, George, I don't really look at the charts that often.
On Monday, the price was the same. I only discovered that the sale happened when I opened X. Like you would not like my BTC clock was still showing me. We're at $118,000 something and I didn't even feel it. And it's phenomenal, as you said, that you could sell such an amount and it hardly impacts the price. And it just shows that there is so much demand for Bitcoin at these levels that I don't know what it would take for a Black Swan event to happen.
George "Jethro" Bodine (04:12.366)
Well, let's talk about that for a minute. Let's unpack what you just said there. Let's talk about the demand side because the demand side we can see. mean, you can look right now, if you look at the ETFs over the last year, actually, it's been over a year now since their launch. They have averaged three to 10 times the amount of purchases daily than the Bitcoin that are being mined. Then if you transition to the BTC Treasury companies,
G G (04:23.205)
Hmm.
G G (04:36.754)
Yeah.
George "Jethro" Bodine (04:41.376)
over that same period of time, they are buying between two to 10 times daily the amount of Bitcoin that's being purchased. If you also look at just the, well, just the flows right now, the flows into the ETFs are fivefold. So five times many inflows and outflows, because yeah, there are some days where outflows occur, but overall it's just a net, it's like a sink. And you know what people do not understand or they just,
G G (04:50.61)
Yeah.
George "Jethro" Bodine (05:13.102)
MicroStrategy just announced before we recorded here the day prior, they just announced that they bought 22,000 Bitcoin and one smash buy. 22,000.
George "Jethro" Bodine (05:29.25)
Those Bitcoin, 629,000, I think approximately, those Bitcoin, do you think that they're ever going to move again? Basically, he has told us this is a black hole of Bitcoin. This Bitcoin's not going anywhere. This Bitcoin is being taken off the market. It's not going to be sold. Sailor and MicroStrategy, now Strategy, have told you repeatedly, they've said, we're not selling Bitcoin.
G G (05:46.749)
Hmm.
George "Jethro" Bodine (05:59.052)
We have one goal here is to accumulate as much Bitcoin as we can get. So he is creating, how much do you think a halving event occurs or means anymore in today's world? When you compare it to what strategy is doing, he has his own mega halving event, just Sailor himself. And that's one company. Now they dwarf everyone else. The next company, just look at MetaPlanet. That's another company that I'm interested in. full disclosure, I actually hold a strategy and
G G (06:18.364)
Hmm.
George "Jethro" Bodine (06:29.394)
meta planet along with similar. So look at meta planet. I think they're up to like 17,000 Bitcoin right now. So Michael sailor and once one smash by, 2.5. Yeah. Two exactly $2.5 billion purchase like that. He, he bought more in one day than they've bought since their inception. This is, people are just not thinking this through. And I, I'm not a big fan of the.
G G (06:41.051)
More than their whole thing, they've been buying for a year.
George "Jethro" Bodine (06:58.548)
Moe ass mother of all supply shock theory. there's always a seller for a buyer. just, it's just price, but nonetheless, when you talk about supply shortage or supply squeeze, I mean, that is real. That is going to happen. People are at some point, you know, we'll talk, maybe we can talk about this later, but I, you know, well,
G G (07:19.345)
Let's talk about now. It's hot on the tongue, so we might as well keep it rolling.
George "Jethro" Bodine (07:23.47)
Here's the thing. This ties in with everything we just started discussing from the very first few seconds. A lot of people will come on a show like this and they'll say, prices set at the margin. But they never explained to you what the hell that means. And I can try and lay this out for you. Let's just say that as this continues, as more and more people come into this space,
When we say price is set at the margin, what we're talking about is the fact that at some point, like let's say it's a run up or even a run down, it's the exhaustion at the end of that run. That is where price is set. So when you're looking at a market and you're seeing people come into it and they're driving the price higher and higher, and I said, for every buyer, there's a seller, for every seller, there's a buyer. It's just price. Well, when the...
G G (08:05.714)
Hmm.
George "Jethro" Bodine (08:19.214)
market is rocking. And I mean, we are just zooming up. You eventually come to a point where there's exhaustion. Okay, well guess what? We are going to come to a point someday in the future where when that exhaustion occurs, there will be a buyer that steps in that's agnostic to price. That country, that government, that company, that individual, that pension fund, the insurance, whoever the fuck is doing it, they're going to smash the buy button and they don't care what the price is.
And when that occurs, when there is nothing left in that particular exhausted market, we are going to see a candle that will light up your eyes. And that is price set at the margin. Yeah, that is price set at the margin. It is what we are going to find price discovery in those moments.
G G (09:00.081)
I'll blow your face off. Yeah.
G G (09:09.181)
Hmm.
I think so, know, what Samson Mao likes to call it is the Omega candle, meaning to those listeners that are unfamiliar with what's meant by Omega candle, means you see a hundred thousand dollar move in a day in less than 24 hours, which we're yet to see. We've seen the God candles, which Adam Back calls, which are $10,000 moves in a 24 hour period. But then the next one is the Omega. And who knows in the future, maybe there'll be even a bigger candle movement of a million dollars in 24 years.
for hours. But until that, I totally agree. Once the supply shock comes in, and once people are jumping over each other like dead bodies, like on a Black Friday to scoop those sats, and there's only 450 sat Bitcoin being mined every day, and not all of them go on the market straight away. Some miners keep them. I mean, it's going to be a very fast move up. As Samson says, it could be a violent move to $1 million a coin. It's not something in five, 10 years time.
We could even potentially see it by end of year. We never know. But I fully agree with you, George, that and we've never had this historically. Whenever there was huge demands for other asset classes and commodities like oil, we saw countries drilling like crazy, flooding the market with oil and the price tanks back and it stabilizes. Same thing with gold. Same thing with most things. But with Bitcoin is this new creature which you cannot inflate more. You cannot produce more of it no matter.
how much money or hash power you have, you are abiding by the consensus rules of what we have.
George "Jethro" Bodine (10:44.834)
Yeah, that's a good point to bring up what you said there, because there is no one to step in and save this market. Right now, people are discussing about paper Bitcoin, but really, in my mind, it's in the derivative side of this equation, meaning what is a derivative? It's just a contract. But right now, if you look at that side in Bitcoin and you look at options and expiry and you look at the futures contracts, the thing is that those particular markets
G G (10:51.261)
Hmm.
George "Jethro" Bodine (11:15.072)
are based upon the idea that there will always be more of the asset to loan. And TradFi that's involved in these markets, if they get to a point where there is a liquidation event, meaning there is not enough Bitcoin to cover some of these contracts, and there is no one to step in and save that market. Yeah, we could see candles that again would just water your eyes. Now,
Right now, you know, our price action is incredibly bullish. And what I mean by that is, you know, I just got done reading, glass nodes on chain newsletter for this week. All the, all the cylinders are firing. Everything is just going great. I don't, there is not a single chart in there.
Maybe transaction volumes. They're very large in dollar denominated amounts right now, but transactions within a block have obviously fallen off. I'm concerned about that, but that's not what I'm talking about. What I'm talking about is where we're going in the future here on price. Everything is just, it's like a bedrock and we are stair stepping our way higher. Now I will say the short term holder cost basis today is 105,000.
And it's unusual. We've got almost the entire market in profit right now. And so for some reason, the short-term holders, these are the leaky lettuce hands, the hot money, trading money. But you know, everybody, even myself, I was a short-term holder because when you first buy for 155 days, that's who you are. And usually that is not a very convicted buyer. And so we could see some liquidations. There is what's called an air gap.
G G (12:54.161)
Yeah.
George "Jethro" Bodine (13:04.046)
they were fact they were referencing this in glass node between the price of, oh, say about, I think it was around 110 up to around 117. You can actually look on a, uh, an order chart or a heat map. can see that we just teleported up there and there was very little of what I was discussing earlier. None of that buy sell price discovery at that level. So we might go back and retest that. And, and when we get up to about 125, 125,000 is our next level yet. And when we get up to there,
G G (13:18.395)
Hmm.
George "Jethro" Bodine (13:33.57)
we're going to see some of those short-term holders. They're probably going to start exiting some of their positions. And the next level after that's 141. So we need to get through 125 and then hopefully we'll just kind of move our way to 141. And if we do this really well, if we don't have any weird omega candles or if we don't have any tremendous amount of activity and skyrocket to the top, then this is sustainable.
We could keep doing this and just go higher and higher. Some analysts are calling for, you know, 150,000 for our top here. Some are, you know, all over the place, 400,000, whatever. Nobody really knows where this is going, but I will tell you that if we continue doing what we're doing right now, it's very healthy and we will continue to go up. it just, you know, if we just fill in these steps as we go, it'll just keep going.
G G (14:11.239)
Hmm.
G G (14:26.712)
Yeah. Yeah. No, it's an interesting point you bring up, George. know, we always say, you know, that the history repeats, it doesn't repeat itself, but it rhymes. And there's been a lot of talks of like, you know, these cycles are going to carry on. However, this time around, we have different players and players with much deeper pockets and actual convictions. May that be the strategies of the world. May that be government stacking.
And retail is still not here. If you search, you know, the Google search keywords of Bitcoin, it's like nearly all time low. And generally when you speak to random people, they're not all in on Bitcoin. They're still on level zero, which is insane to me. But that's besides the point. The point is if these institutions and big players keep on buying and buying and buying, and they're not buying it just for this cycle and they're aiming to exit at the top, they're looking at the long-term proper
low time preference of holding this for decades, even generations. Perhaps as you said, George, we could realistically just have this stairway to heaven where we just keep on going higher and higher, finding support, going higher, finding support, going higher, not having essentially we could leave this 70 80 % swings in the past. Just a few days ago, I what's his name Peter McCormack.
which everybody very well knows in the show. don't know if you saw the clip on X. He was on Natalie Brunel and I just showed the short clip that she posted where he said that what I just mentioned, he doesn't believe there's going to be these massive pullbacks of 70, 80%. That's already been done. Now it's just going to be, we're constantly steadily going to be going higher and higher and higher over a long period of time. Now, is that going to happen? This is non-financial advice. Me and George could be totally wrong what we're talking about here, but realistically,
It does make sense, you know, there's different, as I said, different stakes at hand today. And, and yeah, we'll have to, we'll have to wait and see.
George "Jethro" Bodine (16:22.978)
Well, it's just a very healthy, as I said, it's very healthy. And if you have these huge run-ups, what happens is you become exhausted as we talked about, know, sellers, buyers, it's an exhaustion. And unless you have someone step in at that point, you are going to see significant drawdowns. Now, I'm not saying it's going to be 80%, but we could definitely see strong drawdowns. And the reason I say it may not be that much and that
G G (16:31.398)
Yep.
George "Jethro" Bodine (16:48.152)
like a 70, 80 % drawdown is simply because our market cap is so large. You're looking at a 2.1, $2.2 trillion market cap. It takes a lot to move that thing. And now, we've got all these options, we've got all this liquidity that's in the system, and we didn't have that in the past. And so I'd have to say that the thesis that Peter is putting out, it makes sense.
G G (16:52.338)
Hmm.
George "Jethro" Bodine (17:12.376)
We'll just have to see how this plays out. I don't think that Michael Saylor's comments about crypto winner is not coming back. I'm not as confident to say that, but if crypto winner does come back, I mean, it's going to be an ideal opportunity for those who are convicted to stack sats like a son of a bitch.
G G (17:21.83)
Yeah.
G G (17:29.949)
Indeed, but well said. Yeah, I'm also not don't get me wrong. I maybe didn't express myself correctly I didn't say that like bear markets are not gonna come I just what I meant was I don't think they're gonna be as violent and and and as Dramatic as they were before because to your point George. This is a two point three trillion dollar market today Who knows wherever this next top is it could be a three four?
George "Jethro" Bodine (17:42.519)
Yeah.
G G (17:52.925)
trillion dollar market someone to really impact it as how we started off this episode someone sold 80,000 Bitcoin which I don't think we're gonna see for a long time someone selling so much Bitcoin in one go and it hardly moved the price like it pulled back three four percent crazy
George "Jethro" Bodine (18:10.624)
It is crazy. you know, if you go forward, if you just try to picture where this is going, yes, it's true, retail's not here. But the thing is the institutions, they have arrived and they're here in mass. mean, there are tremendous, last count I had was over 160 companies now that are using some form of a Bitcoin treasury operation.
G G (18:20.25)
yet.
G G (18:25.852)
Hmm.
George "Jethro" Bodine (18:35.342)
You look at the pension funds, insurance funds, asset allocators, family offices, all the wirehouses are just about to the point now where they can get past the reverse inquiry issue that's going on. And what I mean by that, when I say that, is that a lot of these large, really large, like JP Morgan, some of these really large banks, they have something right now called a reverse inquiry restriction, meaning that a lot of the advisors that have been already undergoing training in how to approach Bitcoin and
market it to customers. They're not allowed to actually give that information out to customers unless the customer first asks them about Bitcoin. But that's going to go away pretty soon. So the reason I'm saying all this is because they are here, but they're not here in any size in their positions. Although we see somebody like MicroStrategy, most of these companies are very small. They're putting in a small amount. They're just, you know, dipping their toe in the water. They're afraid.
G G (19:14.299)
Hmm.
George "Jethro" Bodine (19:34.668)
you know, this is an untested asset class in many ways just because of its history, the short history that we have in price discovery and in market trading and in everything from the options to the futures. I mean, these are new markets that are emerging. And so it's just going to continue to grow. This demand, you know, talking about pullbacks, I don't expect this demand to actually start to shrink or to go away.
I think if we have a catastrophic event, a black swan event, yes, Bitcoin correlates to one, just like all assets do. But Bitcoin's unique. If it happens on a Saturday or Friday or evening, mean, Bitcoin's liquid. When you're screwed up in life and you know that Monday's coming and your assets is going to get handed to you, you're going to have a margin call, you're going to have to come up with capital, collateral, Bitcoin is going to correlate to one. During that period, it doesn't matter if it's gold.
Equities, whatever you hold, things in fear and cycles of fear, things correlate to one and Bitcoin will do the same thing. But if you look, there's data out there that shows you within 60 days, Bitcoin outperforms everything after a black swan event. it can't be, you know, so this is not financial advice, but obviously if you had a black swan event and Bitcoin crashed like COVID, do you remember down to 3,500? What the hell should you have done? Should have backed the truck up.
G G (20:54.811)
I was gonna say, yeah, COVID. Yeah, Smashed by.
George "Jethro" Bodine (20:59.874)
You know, soldier kidney, you should have a scar right now. And, and stack like a smart psychopath because Bitcoin, know, overall, we know where this is going. If you look at Bitcoin's history, goes up and to the right. That's it. That's where it goes kids up and to the right.
G G (21:18.703)
Yeah, I think this is a nice point to bring up the topic of stacking stats, which we don't discuss too much on, please, on my podcast or to be frank, most podcasts, I don't really see anyone really talking about kind of sharing, asking guests what are their Bitcoin stacking strategies. So maybe this would be a great opportunity to jump that rabbit hole. And as we briefly discussed before we went on air.
You posted an interesting post on X just a few hours earlier before recording this episode. So maybe we can jump into that.
George "Jethro" Bodine (21:52.674)
Yeah. I, shit. Yeah. Yeah. Well, no, I mean, I do want to discuss this. I just got to think to myself how to frame this out. You know, I w why am I doing these podcasts? Okay. I, my original goal was I thought maybe I can help orange pill some people that are on the fence. Maybe I can give some conviction to those who are struggling with the volatility and trying to stack or, maybe just hope.
G G (21:56.381)
Did that catch you off-guard?
George "Jethro" Bodine (22:21.932)
You know, the fact that if you can paint a picture for somebody what it's like to be living the Bitcoin life, it's a beautiful life. It's incredible. But what I'm going to say right now is something that I've not heard discussed on other podcasts, which is how do you buy your Bitcoin? Most, most people on podcasts, including myself, and I've done this in the past, they recommend something called DCA, you know, dollar cost averaging.
G G (22:22.396)
Hmm.
George "Jethro" Bodine (22:50.348)
Basically, it's a set up a program weekly, monthly, whatever, but it's a program where you buy on a regular basis. Now I don't, I don't actually buy Bitcoin like that. I never have. Yeah. So why would I be saying that to people? It's almost, you know, this has been bothering me a little bit.
George "Jethro" Bodine (23:13.984)
So I've tried to quantify what is the advantage of smash buying like I do or did in the past, because I'm all out of money. So what comes with smash buying Bitcoin vice DCA? Well, one of the articles that kind of got me thinking along this just came out recently, it's by Theo Mosjanei and he's on X. I gave you a link to his...
Twitter handle, it's on your DM so you can put it in the show notes. He just came up with a report and it's a pretty extensive report trying to quantify what I'm talking about. People like myself who just went all in and smash bought Bitcoin versus DCA. Guess what? Smash buying the returns are off the charts. I think the number was around 1700 % return. Vice maybe three or 400 % return for DCA.
But why then would I not just tell people, just buy as much as you can get, you know, every time you can just buy. And the reason is this, if you go and you look at the second column of that chart, what he's really painting in that is volatility. And guess what? For people like myself that have bought like that, especially years ago, the volatility was off the fucking chart. I mean, just off the charts.
G G (24:23.133)
Hmm.
G G (24:43.185)
I remember.
George "Jethro" Bodine (24:44.714)
So what did that mean for somebody like me? It meant that, you know, I couldn't get enough Bitcoin. As I started to read about Bitcoin and study Bitcoin, just went all, I mean, all in mentally because I studied Bitcoin constantly. I never stopped. I still read, I study constantly today. I love, I love learning and I love learning Bitcoin. So here I am. I, you know, I started, I bought then the next day I thought I got to buy more.
And then after a while it was like, I can't get enough. And then I just kept buying. Eventually I started transferring other assets out of things and I sold them. And then what did I do? I bought all, I used all the money and bought Bitcoin.
But the problem is many a night I would lay in bed there and as Bitcoin was crashing because of this volatility, I would, I'd just be staring at the ceiling. I'd have trouble sleeping. And I remember one morning in particular, it was really bad. I, you know, I looked over at my wife and she's sleeping soundly there and she, you know, she trusts me. mean, she trusts me with everything. I am the master of our house.
G G (25:57.531)
Mm-hmm.
George "Jethro" Bodine (25:57.674)
And it's a big responsibility. you know, I thought, well, if I, you know, fuck this up and if I managed to buy a magic internet money, basically beans, you know, like Jack and the Beanstalk, and I believe in a fairy tale. So if you talk to an investment advisor at that point in your life, if you wake up that morning and you get, call and you say, Hey, I need an appointment. And you go down there, you talk to your investment advisor. You know what he's going to tell you?
He's going to tell you the reason you don't sleep well at night is because you're overextended. You have too much in a position. You need to sell your Bitcoin. Well, if I was having trouble sleeping with my Bitcoin, if I sold the damn thing, I would have been, I'd have been insomniac. I would never slept again. So that was the wrong advice. What the real advice was just get in the books and start studying harder.
G G (26:28.541)
Hmm.
G G (26:40.679)
You wouldn't sleep at all. Insomniac.
George "Jethro" Bodine (26:53.088)
and understand what you own. So again, this is not financial advice, but I had somebody post to me today, he says, I've got $50,000 and I'm going to wait until some jackass politician makes a statement and then I'm going to buy it. You know, he, doesn't get it because if you really understand Bitcoin and you've got a spare $50,000 sitting around, you better get a half of Bitcoin right now, right today, now, and then sit on it.
G G (26:55.206)
Hmm.
George "Jethro" Bodine (27:23.146)
And if you sit on it for five years, you know, you're not ever going to lose money. the secondly, you are going to create generational wealth. So I don't know, does that kind of cover some of what would, you know,
G G (27:36.189)
It does. It does. actually, as you've been saying, you know, I personally I can relate fully to what you've been saying, George, you know, I've been also advocating for DCA, especially for people that are new to Bitcoin, and they're unsure and the volatility is there. And I don't want to tell them like, go all in and then it dips 10 % over the weekend. And they're panic selling and calling me and like, Oh, my God, actually lost money because it dipped and I panicked and I sold. So it's like to get it going. DCA is a fantastic strategy. But as you said, George, once you've passed your
100, 500,000 hours of stunning Bitcoin. Personally, for the last four or five years, any money I get from anything, I just smash by it straight away. There's no DCAing it over one month or waiting for that dip. I mean, I'll be honest, even six years later when I smash by and it dips like 10%, it's a little bit of like,
Why didn't it dip yesterday? But then again, I don't dwell on it. I sleep very well knowing that in the long term that smash buy that I did, even if there's a little pullback the next day in the long run, it's still a bargain that you're buying Bitcoin at these levels of 100,000. It's just insane. To put into perspective, I think a great point would be here.
A lot of listeners, some don't even realize that the last Satoshi will be mined in the year of 2140, not Bitcoin, the last Satoshi. But most people don't even realize that the last one full coin, one Bitcoin, will be, is estimated to be mined from the year of 2105 to 2140. 35 years, the whole world, all the hash power in the world.
will be mining one single coin that you can acquire today for as cheap as 100, 110, 120, whatever, whatever the price is in today's money. It's just, it's insanely cheap. And like that to me, when I discovered that point, doing my daily studies, like to me, was just like, this is a, you know, like, as I said, any money I get, I smash buy it, put it into cold storage and whatever I need, withdraw a little bit to a hot wallet, pay it off.
G G (29:44.465)
But I don't time the market. know, as the saying goes famously, time in the market always beats timing the market.
George "Jethro" Bodine (29:50.966)
That you know what? That's the key. What you just said is the key. And in fact, when you think about it, there are only every single year, there's only about five to 20 days where Bitcoin has most of its gains. You've got to be in the market during that time to get it. One of the reasons why we hesitate to tell newbies or people just entering the market to do what I just said is because they do they get shaken out. It's the volatility.
G G (30:02.13)
Hmm.
George "Jethro" Bodine (30:16.312)
They're not, they don't understand what they own. And you know that if you tell them to smash by and they put that in there, there's a chance that they will not be able to handle the volatility. And then they'll end up selling, which is worse than ever, because once you get the Bitcoin, you don't want to lose it. cannot lose Bitcoin. Bitcoin is too important an asset to be losing or to actually be trading. This is not the time to be trading. You know, the other thing you mentioned too, talking about scarcity, you know, we've only got
G G (30:37.853)
100%.
George "Jethro" Bodine (30:45.582)
Right now about nine years, get to 2034. So when you get to 2034, we are basically capped, that you're going to, based upon past history on the blockchain, you're going to see as many people lose their Bitcoin as buy Bitcoin after about 2034. Basically, you're essentially capped. So you've got a very limited time here to try and get your stack in place.
G G (31:11.197)
And most people don't realize that, know, like they were here talking about full coins and to some people even today that don't have a well-paying job, like it's already out of reach, even if they would go and today get an extra job. To a lot of people, it's already priced out. But then I tell people, don't be discouraged. Don't think you need that one full coin. Like have a target. Get first to a million Sats. And then your next target is get to 10 million Sats, 0.1 of a Bitcoin.
That is already generational wealth without you. You know, you might look at us today as $10,000, but Bitcoin is an asset that's grown over 100 million percent in the last 16 years. There's no other asset that grew so much. Now, that doesn't mean it's going to grow another 150 million in the next 15 years, but historically, if you look at the numbers, as George fantastically said, it goes one way, it goes to the left and it goes all the way up. It's always going up in the long term.
George "Jethro" Bodine (32:08.076)
Yeah. You know, it's funny because we talk about returns and obviously you would think that volatility would compress and it, and we can show that it is. I don't know how much it will compress going forward, but am I talking about the cumulative annual growth rate, the CAGR, the, the price, if you will just think of it as price. I talking about that decreasing?
I'm personally, I'm not. Now I did recently, I was listening to a podcast and, can't remember who it was, but they were discussing the, the fact that, know, the kegger cannot continue at 50 to 55%. That's where it's been. And, know, if you look at the market cap of $2 trillion, just two, and you use a kegger of 50 %
over the next 10 years, comes out to about a hundred, just over a hundred trillion dollars in market cap. That would represent right now, using today's dollars, it represent about a 10 % asset allocation across the planet in every category you can imagine. Meaning, if you look at the quadrillion assets right now across the planet, there are everything from cars, know, paintings to fixed income, currencies, you know,
Bonds are really popular. Real estate is another one. you know, you look at that, but here's another thing that most people don't realize is that you don't have to put in Bitcoin's market cap's got a multiplier to it. And it's about five. So, you know, if you could put in about a $200 billion purchase into Bitcoin right now, our market cap usually moves up about five times to achieve that. So we have a lot of room to run here. Now,
G G (33:32.423)
derivatives.
G G (33:47.485)
Hmm.
George "Jethro" Bodine (34:01.262)
I will say that, you know, the returns that we've seen like in 2013 and 2017, they may not be here going forward. Bitcoin in a way could just become what we said up into the right for me and my screen forever. Just continuing in a stair-step manner as more and more people, as it's like a virus spreading across the planet. I don't know the answer to some of these questions. I just know that.
your time to get significant amount of Bitcoin, even if it's a tenth of a Bitcoin, it is rapidly decreasing. And if I'm right in the next few years, maybe, you know, I think we'll see a million a coin by 2030. you know, that's going to be $100,000 to get that tenth of a Bitcoin. And it's going to take a lot more work. And, you know, it's going to be discouraging for a lot of people. I'd have to say the theme and that period, once we go forward from there,
G G (34:44.219)
Yeah, me too.
George "Jethro" Bodine (34:59.342)
The theme even now today is I'm too late. You know, when you talk to people and you tell them the price of Bitcoin, I'm too late. It's unit bias. It costs too much. I miss the boat. Someday you will.
G G (35:06.321)
Hmm.
G G (35:10.941)
It is it is no for sure and you know just just to touch upon the point where we're talking about the Why do we not recommend people to smash by it? So not just the delicate shaking out they'll lose money But that the worst thing to me actually is they'll be discouraged by walking away from Bitcoin. They'll say it's you know, I lost money It's a scam that I don't want nothing to do with it I lost money and that's the worst thing we can do to people like to me the real number go up technology is people joining the network
Because once you really join Bitcoin and you start studying and get vested, you put your feet in the water, you're not jumping out of that pool. Like this is a journey for the rest of your life. And that's why I think it's important for people to get an easy start and steady and not just get shaken out and, you know, pushed into the deep end of the pool. And then you realize, wow, they can't swim. Maybe they should have started in the shallow end.
George "Jethro" Bodine (36:06.882)
Let me ask you something. Do you think if you look at yourself, if you stood outside and you look down on you, Gigi, would you consider yourself like other people?
G G (36:08.37)
Yeah.
G G (36:13.457)
Hmm.
G G (36:23.195)
Might sound cocky, but no. I am different, but I can explain why.
George "Jethro" Bodine (36:23.404)
Are you different?
George "Jethro" Bodine (36:28.066)
Well, why don't we ask our viewers, if you're a hardcore Bitcoiner right now, why don't you go find a mirror and look at it and ask yourself, am I the same as most of the people that I know? Am I different? And I'll tell you the reason I say that. And I'll ask you another question here. I've spent years in this space. I have been preaching this to people over and over again, and I'm talking about friends and family. And I can count on
G G (36:31.151)
Okay. Yeah.
G G (36:42.557)
Mm.
George "Jethro" Bodine (36:55.67)
Not even, I don't even fill up one hand, not one hand with the people that have listened to me and bought Bitcoin. Now you've been actually in this space a little longer than I have, and you've been talking about it. How many people do you think you've orange pill that have been listening to you and gone, I'm all in, or I'm in or whatever.
G G (36:58.386)
Hmm.
G G (37:14.813)
If I'm lucky two hands, but probably a handful are the closest people to me
George "Jethro" Bodine (37:19.296)
Okay. So why, why is that? And, and not only why is it, but where is it going to go in the future? Where is it going forward? Because, you know, I'll just tell you what it's like in my country. The average reading age level of a U S adult right now is at a 12 and a half year old child. The average American spends seven hours a day between watching streaming TV.
G G (37:41.138)
Hmm.
George "Jethro" Bodine (37:48.626)
and on their phone, seven hours a day. The majority of content is streamed at less than 30 seconds so that they can keep their short little attention spans going long enough to, I don't know, get some fucking message.
I mean, there is a real chance going forward that it's going to be a very limited people that actually understand Bitcoin. And that when you look around someday, we may be the same, meaning Bitcoiners themselves, when we go to meetings and we go to conferences, we look around and we go, you know, these are my people. And you know what, when you step outside of the conference and you step in there where the normal, the normies, you may find that you're alone pretty much the rest of your life, because I'm not convinced that
I'm not convinced that the majority of people are ever going to understand Bitcoin or even have the need or interest. One of the reasons I think the movie Matrix resonates so well with Bitcoiners is because they realize one man stands up in the pod and looks around and sees all the other people sleeping. And once he wakes up, he doesn't want to go back. The key moment in that whole movie is when the character who is awake says,
G G (38:52.925)
speaking.
George "Jethro" Bodine (39:03.35)
I want to go back. I just want it to steak to taste good. I don't give a shit what it takes. I want to go back to my pod and go to sleep. So I know that it sounds a little bit dark, but if you're a Bitcoiner, it shouldn't. You know, it's probably mainly Bitcoiners that are watching this podcast. Maybe once in a while we're going to get somebody because new people come in all the time. And that's our hope. That's who we're trying to get here. We're trying to find one of those people that's in the pod.
G G (39:27.186)
Hmm.
George "Jethro" Bodine (39:32.664)
But that person that, you know, him or her, they're special. There's one pod in a whole group of pods and we're looking for that person. And when we find her and we wake her up now, she'll become a Bitcoiner. But you know what? The rest of those pods, I don't think they're going to open their hatch.
G G (39:52.477)
powerful stuff. What can I say? mean...
You have a very valid point, George, that this hyper bitcoinization is not going to happen in a decade or two where just everybody outside will be stacking sats and will fully get it. There'll be this, I don't know, Jesus comes down resurrection moment when everyone's like, aha, that that's what the secret is. I don't think so. I think it's going to be a long, sturdy road. And and to be honest, in my opinion, probably even in my lifetime, I'm a few years younger than you, George. I don't think I will see the majority.
George "Jethro" Bodine (40:26.814)
I'm 70. I'm 70 years old, but you're probably a lot younger. I've probably got t-shirts that are older than you.
G G (40:30.685)
Maybe 50 % so you've got a 50 % leg on on my lifetime, but you know I'm fine with that, know, to be honest Bitcoin in my eyes is a technology that's gonna be here for thousands of years it's not a matter of 50-100 years so and Unfortunately the system that's built and wow, let me finish this thought and then I'll go back to your question Why do I think most people still don't get it?
I think it will take the older generations which have controlled the systems to essentially die off and for the new blood to come through and be born into it. For example, my daughters, which I talk a lot on this podcast, are only five and three years old and they fully get it. They fully get Bitcoin. They see it. They know what a node is. They walk past the node every morning and say, good morning Bitcoin. Like to them, it's just, it's there. Like it's, I don't have to orange pill, nothing to them.
And I hope for any parents listening to this episode right now, the best thing you can do is teach your kids from the youngest age about Bitcoin and hard money how that is the truth. Because if we do that, that's how we actually change the world. And that's how we get more people on the team by not converting them, but bringing them up in the system that we've laid out here. And we will be laying out for many decades to come. But unfortunately, yes, where we are today, as advanced of a civilization as we are,
As you said, George, unfortunately, most people are doom screwing on their phone. it doesn't matter if they're 20 years old or if they're 60 years old or even 70. It's just kind of it's become the normal life. And it's not exclusive to the US. It's across the world. Everybody's doing it. And I guess the system that's in place has has done that to dumb us down, not to ask important questions, not even to stack SAS, but not to ask authority. Like, how do these people in in power, in finance, in health care?
in education can have such a say and bureaucratic authorization of how we live our lives and what we ingest in our body that the last thing they want is sovereign money and sovereign people living their lives. So I think it's going to be a battle and a fight that's going to be taking hundreds maybe of years. Rome, most people don't realize Rome didn't collapse overnight. took close to 200 years for the Roman Empire to really, you know, for the flame to go out.
G G (42:52.943)
Here we are sparking a revolution 16 years in and some people aren't hoping I'm thinking by 2030 half of the world will be holding Bitcoin. As much as I would love that, I'm in the same opinion boat as you are George that it's gonna take much longer than that and the fight is only yet beginning. We're not even there yet. We're at the point where we're not even polishing the blades. We're looking for raw materials and figure out how do we build a blade?
George "Jethro" Bodine (43:20.086)
Yeah, you're, when you talk about children, it's you need to think of yourself. You're in Zion and you're reproducing. You're actually making little Bitcoiners. That's important. You know, let's, let's continue. I want to take this down to even a darker road because usually I don't do dark roads, but we're going to do one right now. So if I'm right and the majority of people don't get Bitcoin.
G G (43:26.055)
Mmm.
Yeah.
G G (43:33.777)
Let's.
Let's go.
George "Jethro" Bodine (43:43.992)
Where do think that's going to be when Bitcoin does hit a million dollars a coin and you have all these newly created wealth titans and people that are suddenly, you know, their neighbors look around and they see them and they go, wow, why is this person so wealthy? Why are they doing so well? they're into Bitcoin. Well, that's not fair. They got into Bitcoin early. Why? I didn't have that opportunity. They were lucky.
You know, they just happened to get Bitcoin at a good time and look at now they have all this. Well, there's going to be a lot of anger. There's going to be a lot of resentment. And now that we politicize Bitcoin, now that in the U S we've turned it into a right wing, you know, Trump administration meme coin, you know what? Things change cycles change. And when you get a new administration in or things change, there's a very good chance we are going to be on the pointy end of a stick.
G G (44:39.749)
Mm.
George "Jethro" Bodine (44:39.98)
behind people that do not want to see us succeed. So in the future, Bitcoiners, I'm telling you right now, if I'm right, and it's going to be a very small group of people that understand and hold Bitcoin, then we need to stay together. And we better find ourselves a good place to go to in life because there's a very good chance they're going to be coming for you. And if you think I'm making this up, just remember the last administration, the Democratic administration that was talking about taxing unrealized capital gains.
How would you like to somebody come in and say, Hey, I see through KYC or whatever Coinbase, you know, client list, you've got three Bitcoin that's worth $3 million. We want 50 % of that now. And you know what? If they tell Coinbase that, if they tell an exchange where you've got your coins, if they're not on a hardware wallet that you have in possession of, then you're not going to be able to do jack shit. When they go to Coinbase with their pointy end of the stick and they tell them, Hey, you know what?
We need that Bitcoin. They're going to put you, they're going to freeze your account so fast. It'll make your head spin. So, and I'll tell you another thing. If you follow Tom Lee with funds rat, you know, great analysts, people just love this guy. He's on NBC, CNBC all the time. And, he recently put out a, I've got it on my Twitter feed, but he recently put out a clip and he said, and the third reason is people hate.
The third reason that people hate Bitcoin is because they are angry at the returns that people have realized. Now I'm paraphrasing here, but what he was talking about was hedge fund managers, how pissed off they are, the fact that some people got in early and are incredibly wealthy now. So.
G G (46:21.692)
Hmm.
George "Jethro" Bodine (46:24.596)
I'm just saying that corners, better be prepared, prepare yourself for what's coming because people are not going to be happy for you. They're not going to go, that's wonderful. I'm, I'm glad that you are now, you know, in a position where you can do what you want in life. You're wealthy. can relax. can retire. You have money to go out on vacation, have fun. People aren't going to feel like that. What they're going to do is they're going to get their head out of their.
phone or pull it out of their ass for 30 seconds long enough to watch some news clip about how you were lucky and got in early. So that's my rant and that's my dark side of the journey today.
G G (47:05.437)
No, I, you know, you brought up some really powerful points in there. The first one that I want to I want to comment on is showcasing what we have today. Still in 2025, people are showing how they're smash buying and putting screenshots on X to show to the world that they've bought a quarter of a Bitcoin or half a Bitcoin or I finally got that one Bitcoin. Anyone listening to this that you're doing that you are endangering and not just yourself.
for your family members and your whole lineage. Because as George said, in the future, when Bitcoin goes to astronomical fiat levels, the people are not going to be cheering you on. They're probably going to be hunting you down. And those screenshots will come to haunt you. you do not want to, you know, like in Fight Club, movie, the first rule is you don't talk about Fight Club. And rule number two is you don't break rule number one. So in Bitcoin is you never disclose your Bitcoin stack. And rule number two is don't forget rule number one. You never disclose.
alone putting screenshots and putting it out on X and all different platforms. That's the worst thing you can do. So that's the first thing I wanted to get off my chest that came to mind when you were saying those things, George. And yeah, I agree with you.
People are not going to be happy and they're always going to call us lucky that we were there in that place, just like a lot of people today say, people that bought Bitcoin for a hundred bucks were lucky. Yet, let's be honest, Bitcoin doesn't just land in your wallet magically. It requires actions and it takes your own decisions. And to a lot of people that we've been preaching Bitcoin for years, once they come back and say, man, but you got lucky,
And I know personally that I told them so many times, just buy a small share. You know, you can you don't have the right to call me lucky because like I've told you so many years before. then again.
G G (49:00.047)
What can we do in those positions? think the most important thing is just being humble. And if you think I was lucky, think that I was lucky. You know, it doesn't matter. I don't want to I'm not here to prove anything to anyone. And also things can turn very violent, very fast, especially if people are hungry. And the way that the money printer is going, unfortunately, as we've already seen prior to Bitcoin, the gap between the really wealthy and the poor is just like widening. And now I feel like post covid with the amount of money that's been printed.
even keeping Bitcoin out of the picture, that gap is going crazy. Recently, a few nights ago, was reading that Elon Musk today is on paper the richest person on earth that has wealth of $400 billion and he's on par to become the first trillionaire. So a person becomes a trillionaire by the year of 2027, which is a mere 24 months away. Now, even though that happens or it doesn't, it's relevant, but just the fact that
There's people that have hundreds of billions and most people are struggling to pay their bills and they're working two, three jobs today. Those people will be struggling even more, unfortunately, in two years time. And then when Bitcoin goes to a million and beyond, my God, like there's going to be a lot of hungry eyes looking at you. So as you said, it could get dangerous from an administration point. As you said, the next president next, you know,
whatever lawmakers decide to do can put you in danger, but also the average person out there or not even a person in the streets, but someone that's been snooping you on the web for many years that you have no idea has been snooping you, you are exposing yourself to external threats. So take away from this, my Gigi's rant is like, be very cautious. Think twice before what you post online. And especially when it comes to Bitcoin. And the final thought, and I'll pass it back to you, George, is
If that time comes and there is a high probability that time will come, the best thing you can do is vote with your feet. You pack up wherever you are in the U S Europe, Asia, Africa, wherever you are. And you go somewhere where it's a much more comfortable place and where there are people of your kind. May that be Madeira that's had has a great community. Salvador that has a great community.
G G (51:18.503)
There's places all around and these even small ecosystems, you don't even have to look as a country as a whole. There are small grassroots circular economies all over the world. There are some even in the middle of a jungle, which you are essentially in that country like Costa Rica, what Francis from Bull Bitcoin has done fantastic over the last few years. And they have no strings attached to the government, even though it's Costa Rica, but the government does like they're just jungle people to them, you know, like, so look out, vote with your feet. And the last thing is, of course,
self custody. If you have your coins, you can pack up your bags in two hours time, get onto the airport and fly out. is no moving funds out, getting rugged by amount of KYC they need to provide or even worse if you need to do X amount of documents, just keep those sats in cold storage. And if you don't know how to, there's a plethora of tutorials out there. And if you're lazy enough and you want a quick route, Gigi has a become unruggable.
shameless plug in here, but honestly, I do it not to make money, but to help people reclaim their sovereignty. And it's so easy in today's day to hold your keys that if you're not, no excuses. So back to you, George.
George "Jethro" Bodine (52:27.724)
Yeah, I agree. And that idea, the fact that you can escape with Bitcoin is the key. You know, you can take 12 words, memorize 12 words, and that's enough, by the way, for a seed phrase. That's enough entropy. That's like one atom in the universe. I mean, to determine. So just memorize your 12 words. You can go across any border you want. Next thing you know, you're free. You have all your wealth. They can strip search you, anal probe you. They can do whatever the hell they want. But at the end of the day, when you cross that border,
G G (52:38.971)
Yeah.
George "Jethro" Bodine (52:56.438)
Even if you're naked, you have all your wealth with you and you can't do that. There is no other asset on earth that you can do that with. think about the power of that. You know, at one time we used to have bearer bonds and, and you could actually have clip coupons. remember years ago, they, actually had these, you know, but the thing is that they were always physical. They could always be taken from you, but we're talking about storing 12 words in your head and being able to cross the border.
G G (53:05.116)
Mm.
George "Jethro" Bodine (53:25.832)
and be free with all your wealth and tech. That's an incredible superpower.
G G (53:31.225)
Yeah, as Knut Svanholm, our good friend says, essentially Bitcoin becomes a part of you once you memorize those 12 words. And of course, it's not that we're preaching, just have them, you know, have them stored in your mind, have some backup somewhere. But when when when shit hits the fan and you need to cross the border and they're snooping you down from head to toe, you can memorize those 12 words and there's no technology that can scan your head or your brain to get them out. There's absolutely nothing they can do. And if they kill you,
They kill that bitcoin that bitcoin goes to the grave with you. So it's very powerful when when you realize that That the bitcoin actually becomes a part of you. Once again, no other asset gold doesn't merge with you Even if it's up your rectum, it's still gonna come out. It's not gonna become a part of you. So There's some powerful things behind it Yeah, shout out to knut. I mean what what he when he initially said it a few years ago
George "Jethro" Bodine (54:19.628)
Yeah, well said. I love Newt.
G G (54:28.419)
It took me some time to get it. Most people that have heard this sentence right now listening to this episode, they'll be like, what's Gigi talking about and Knut saying that, you know, Bitcoin becomes you. But it takes time. Process it. And talking about Knut, read his books. It'll make a lot more sense where that came from. But yeah, I guess.
We went down a gloomy road, but that's also good because it's not happy days everywhere. know, life has its ups and downs. And to be honest, I think a lot of podcasts should bring up these topics, which are a little bit more raw and kind of to give a little bit of a wake up call because a lot of people now are just talking about when Bitcoin one million, you know, where all these treasury companies company coming in, things are pumping, you know, where we're just going up.
Yes, we are, but like there's still things to consider and plan ahead. And being a Bitcoiner, the fact, what we just said, that you can pack up and leave makes you the most freest and most dangerous person in the eyes of the government because suddenly they can't control you. And I think for a long time they will be bootstrapping their propaganda system. that be
TV ads, may that be the social media mania, all of that to try and keep as many people in their pods asleep. Because if people start popping out of those pods, it's going to be very hard for the governments to keep them in. more importantly, have the control over them, which is their end goal. Like they are planning with their central bank currencies and all these regulations that are coming out and declare this and declare that. It's just insane. Like to me in the last 20 years, I remember prior to
to 2001, the terrorist attacks when Twin Towers went down. You could fly at the airport with nothing. There was hardly any checks, nothing. Post that, the fight on terrorism, which was started by the main terrorists themselves, the states on individual people, has just gone parabolic, where today you need to declare everything, prove everything to everyone. Soon you're gonna have to be swiping your inner cheek to prove it's really you. And we just blind walked.
G G (56:38.937)
into this over the last two decades. And if you're still not getting it today, my God, like what kind of wake up call can we give them, George?
George "Jethro" Bodine (56:49.634)
Well, most Bitcoiners though do get that. What you're talking about right now, most Bitcoiners understand it. It's the, again, just go back to the normies. It's the normies that don't understand this. Bitcoiners get it. Bitcoiners get the fact that we are working to be sovereign individuals. We want to be free. And, you know, let's talk about what that world's going to look like for us. For one thing, if you think about if this is going to be a remarkable transfer of wealth to people that are like ourselves,
G G (56:52.37)
Yes.
G G (56:57.317)
Hmm... The pre-coiners.
G G (57:07.868)
Yeah.
G G (57:12.199)
Hmm.
George "Jethro" Bodine (57:19.406)
Most of the Bitcoiners I meet are very, they're moral, they're hardworking, they question authority, they're deep thinkers, they read, you know, they have an attention span greater than that of a nat. And they are the people that you want to hang out with. They're the people that you want to build things with. Imagine where we're going to go if we, if we do what I said and we find our own little country, own island or, or we end up settling in a community in groups, you know, as Bitcoiners.
It's going to be an amazing world to see. I look forward to being in that particular community. That's one of the reasons why I'm trying to take care of myself and keep working out and stuff. I want to see this world in front of me. And it's going to be a beautiful world. Imagine a place where people understand the concept of what money, hard assets are. And we have a currency that is basically not being devalued, but actually growing in value.
G G (57:59.142)
Yep.
G G (58:14.94)
Hmm.
George "Jethro" Bodine (58:16.02)
It would be such an amazing thing to see for planning purposes and to try and build on. I just cannot tell you, you know, if you're young today and you're stacking Bitcoin like a smart psychopath, which is how I recommend to do it, and you are going to see that you're going to be in that world. And, you know, as the world turns to shit and if you believe in the fourth turning and you see what's going on around you and you are a family member, you're raising your kids right, you're going to get to escape that.
You're going to open that pod and you're going to escape and it's going to be a bright future for those people that are willing to put the work in to get there. And Bitcoin is hard work. You know, it takes work. You didn't get lucky. If you're sitting here right now with Bitcoin, you're not lucky. You worked your ass off to get here. And you know, you got to hold onto it. I hold mine in a fucking fist and nobody's going to get it. And I have had to change things around here quite a bit because of, I worry about like physical attacks and stuff, but
G G (58:56.934)
No.
George "Jethro" Bodine (59:14.39)
Nonetheless, when I need to, I can do just what you said. I can get my Bitcoin where I need it to be so I can put it into cold storage and actually memorize 12 words and take off with it if I want.
G G (59:27.213)
Yeah, yeah, and you know, just to add to it, I fully agree that once you get to know the true Bitcoin maxis, which on the surface may think as they're toxic people, but actually they're some of the most kindest and humblest people out there, wearing, know, flip flops and shorts and a tank top and not driving a Lambo and a Gucci suit. Those are definitely not Bitcoin maxis.
They in this new world that we're building, we won't outside investment to build things, as you said, with communities, because if the purchasing power goes to where we believe it's going to be going collectively, don't already don't need to ask any permission, but we don't even need to go to a bank to get a credit to build the things that we want to build together. We will have all the access from all the nutrition, all the building materials to ideas, to craftsmanship, to most importantly, dedication and
As you said, being a Bitcoiner is a hard thing and I guess, pun intended, proof of work is not just for the algorithm hashing away, it's actually for your physical proof of work, putting in your hours, figuring out, dedicating your time and energy to this network, which is still in its early days. And I think in the future, it's looking super bullish, even though...
The world in general is going to shit and it's going to be going to shit for a while as well. This is not going to be a first, fast, fourth turning, no matter what people say, least in my eyes, it's going to take maybe a decade or even two. But we don't have to wait and go down with the sinking Titanic. We have a chance of getting on that raft, going off, finding out our new land and building this new world that we want. And we'll just have a head start in the next turning that's going to come around.
George "Jethro" Bodine (01:01:12.118)
Yeah, and one of the reasons why I try to paint what I call the Bitcoin life is because, you know, I've got a glimpse, I've had a chance to see what this is like. And you mentioned it already, but time preference is the biggest thing for me. That's what's really changed more than anything else. I'm not I find that time has stretched out for me. It's like I'm not concerned about the things that I used to be. You know, for one thing, I'm not plugged into the financial pages anymore, looking at prospectus or
a 10k or watching what a CEO is doing or the FOMC or if J-PAL gets out there and makes a statement, I really don't give a shit what those people are saying anymore. They don't mean anything to me. It's like I'm outside that system. And if you're going to, know, we work really hard to get outside that system. It's one of the things that Bitcoiners do. So we're out there. We're trying to get away from the system. Well, live that life then. If you're doing that and you're working to get yourself out the side, then live it. Meaning
I don't mean to say don't sweat the small stuff. What I'm talking about is the fact that if you really understand that you hold the greatest monetary invention in the history of mankind and you know where this is going, then you should be able to just start relaxing and breathing. as Bitcoin's price continues to go up and to the right, as it will, there will be a point where you can truly just escape this system and live outside of it.
And that day is coming. And so you need to envision it, picture it, find out what it is you want to do in life. You know, I went to a dinner last night and after the dinner, a young man started playing a piano. It reminded me of like a sitting room in the 1880s, you know, we're all just sitting around listening to this beautiful music. And I was thinking to myself, this is the way things used to be, meaning nobody's got their phone out. They're not plugged into some
G G (01:02:56.029)
Thank
George "Jethro" Bodine (01:03:07.318)
or shit, they're actually just plugged into each other, just enjoying the moment. And part of that is because if you, if you can just envision that future, can happen. So think about what you want to do in that future. You know, what kind of new, what kind of new things you want to do in life? What's something that you've always wanted to do that you never did? Where do you want to live? What kind of a world you want to be in? If you're not married, are you going to find that person that
you're going to go through life with, walk hand in hand, are you going to create children? What kind of world would that be for you? But just try and think outside the box, try to think outside the hamster wheel and picture this future where you're going. And if you envision it, you can make it happen.
G G (01:03:53.415)
manifestation that that's for sure and You know, have this saying George go out and touch touch some grass I guess more people should be spending outside more time and touching more grass and not worrying about where the next support level is and then and where are we gonna go next week and Guys like if you've been stacking for a few years, you've disturbed the right to go and live in the moment because at the end of the day The greatest asset beyond Bitcoin is your personal
time because that's the scarcest thing that's even more scarce than the 21 million Bitcoin because that's going to run out much faster than the supply of Bitcoin and most people they just so focused in some cases too focused on stacking sats and not touching a single sat no no no like I need to just keep on smashing away working three jobs a day to stack X amount of Bitcoin which may be some listeners prior to
we discussed some half an hour ago, they might be thinking, holy shit, like I just need to work my ass off for the next 20, 30 years to stack as much Bitcoin as I can. But no, like at the end of the day, enjoy the time as well while you're here. And Bitcoin allows you to borrow your time from the future and live it today, which no other asset class allows you to. And at the end of the day.
As much as we try to be fit and I also try to live a healthy lifestyle to see my girls grow and see where we're going and contribute for as long as I can. For all I know, tomorrow I might not wake up from my sleep or some tragedy happens. There's some, an event outside of my control and I'm gone tomorrow. What is the point of me holding on that stack and not spending a single thing and not taking time off and really spending time with the things that I cherish the most, which is time with my kids.
taking them to nursery, going afterwards to the parks, walking my dog, not looking at the time, my God, I have another call, I need to return back to the office. There's none of that bullshit which I had previously prior to going full-time into Bitcoin, enjoying the things. And you know what's funny, George, and maybe you'll relate to this, living a Bitcoin life, you realize that the greatest things that give you the most joy are actually free, you know?
G G (01:06:05.463)
You've recently I know you've been on a on a hiking trip out in the beautiful Colorado. You know what I just mentioned going out to the park going, you know, like doing things that actually don't cost any monetary value. I'm still stacking. I'm still spending any sats or any fiat, but I'm just enjoying my time. And that's what Bitcoin gives you. You people think that all bitcoins about the Lambo life or like buying a mansion. I don't want to mention like how much shit and headaches you need and how much taxes you need to pay. I'm I'm
As you said, we're out of that system. I don't want to go back into that system. To me, the full freedom is to say, I've got the fuck you money. Fuck you to the system. I'm spending times on my terms with my family and doing what I want every single day, 365 days a year. If I want to record these shows, I'll record these shows. If I want to take a year out, I'll take a year out. There's no one like I'm in full control over my life. And like, that's the most exciting thing to me.
Bitcoin at 1 million, fantastic. But even Bitcoin at 100,000 allows me to live this because I was disciplined in my stacking for many years, stacking, stacking, bam, bam, bam, bam, to at some point saying, you know what, fuck it. Like how much do you need to stack you? It's like being a millionaire. Once you get to a million, it's not like you're happy. You need 10 million and then you get to the 10 million and then you need 100 million and you always, you're always like this greed factor. You never run out and then you're 75 years old and you're all ill and you're all like twitching on a chair and like...
Why, like?
George "Jethro" Bodine (01:07:30.508)
Hey shit bud, you know that's only five years for me so I hope I'm not twitching on a chair.
G G (01:07:34.077)
85 85 let's put let let let's let's leverage that up to 85 or 95, you know But like I mean some people my father for example who is younger than you George? Worked his whole life to provide me and and our family everything we ever wanted and in the last 12 years He's had 11 strokes every year. He has a stroke sometimes minor ones sometimes stronger ones He had to relearn how to walk. He had to relearn how to talk. He had to relearn how to write
My dad was a super entrepreneur in his lifetime. He had a bunch of friends. He was the life of the party. When my dad came around and he always paid the bill, he was the, he really lived the high life. He smoked like a chimney. He drank like a, like there's no tomorrow. And then boom, at the age of 60, he just started hammering and hammering and hammering. And I saw this in my own eyes and I had this shock where my dad as the role model went from living the peak life.
to collapse in and me being there by him and all of his friends that always were there and celebrating him once he wasn't there to pay the bills to do everything, everybody forgot about him. And that to me was like, wow, like a reality check that people actually it's all about the money to them. And at the end of the day, screw making that X amount of money and making other people happy. I'll focus on me being happy and making my family happy. That's why my philosophy is not to make as much money, may that be fiat or Bitcoin, but to be there for my family today.
tomorrow and in 50, 60 years time to really be able to do the things, to take the hikes that I want to go, to do the scuba diving that I want to do and not be in a position where essentially I need assistance for everything in life. So there was some strong lessons in my life and experiences that were super powerful and traumatic that set me on this course. And I'm just trying to signal this out to people that don't, don't stretch yourself.
Enjoy the moment and I love what you brought up, George, know, the fact that people don't cherish the now. And as I said, some of the most beautiful things in life are free and they're accessible to you today, not in 10 years time when Bitcoin is an X amount of fiat.
George "Jethro" Bodine (01:09:40.45)
Yeah, that's very well said, Gigi. mean, seriously, that is very well said. So I think, you know, if you're watching or listening to this, then really the question that you should ask yourself is, you know, what is that point? How much do I need? You know, and at some point you need to transition, if you would, realizing that, yeah, life is very short. You know, take it from somebody my age. health is everything. If you lose your health, I mean, it's you, you're toast and it's a very difficult.
G G (01:09:53.585)
What's your freedom number?
G G (01:09:59.185)
Hmm.
G G (01:10:05.212)
Yeah.
George "Jethro" Bodine (01:10:09.996)
going forward if you don't have your health. And then time is our most precious gift and it's numbered. Every one of us has a number. We have a block height, a block size height that we are going to get to and that's it. When you get there, you're done. And nobody ever took any sats with them. When you go down to the river Styx and the boatman comes for you and carries you across the river, you know, you don't take any sats with you. All you leave behind are memories. You leave memories of who you were and what you did.
What we do here now echoes through eternity. And there's truth to that.
G G (01:10:44.409)
It is and passing down the legacy like passing down the sats that you were hard stacking in the early days of Bitcoin. Even today, I would argue in the in big picture of things are still the early days, you know, 50, 100 years down the line. It won't matter if you bought Bitcoin five years from the Genesis block or 15 years. You're still in the early stage. I mean, you're leaving behind.
a ridiculous legacy and yeah, just to add to what you said, going back to my father that I mentioned, he has a great quote. says, you enter this world butt naked, you leave this world butt naked. So you might as well enjoy it while you're here. He took it a little bit too close to heart with that quote. He really lifted high.
But then it's a reality check. Maybe that could have never happened, you know, like his health, you know, there's some people that smoke and drink into their hundreds and they never have anything, you know. So it's not a rule that I'm saying like, don't drink or don't smoke, do everything in moderation, whatever you want. But probably if you go deep down the Bitcoin rabbit hole, you realize that a lot of toxins that you've been putting into your body, maybe you shouldn't, or maybe cut it down to the minimum just to still enjoy life. Because there's some people that were...
As much as we're the same, we're still different and some people enjoy some vices and you shouldn't live this, you know, Mormon life or a monk life where you're like, no, I will never have a glass of red wine or that, you know, that expensive whiskey that I celebrate a big achievement in my life that I've been working for a long time or that cigar occasionally. You know, there's things you can do in moderation. Just don't overdo it. And in today's society, it just programs us to abuse these systems. And then we, end up wrecked.
George "Jethro" Bodine (01:12:23.158)
Yeah, well said.
G G (01:12:24.093)
So I guess where do we take it from here? We went down a very dark rabbit hole. We went to a positive one. We're still on a positive one. We spun up some real truths about enjoying the moment and don't get wrecked financially and health-wise, which I would say health is even more important than wealth because wealth you can always regenerate. But once the health goes out, it's a steep slope to get back.
What else do want to discuss, George, or do you think we missed?
George "Jethro" Bodine (01:12:58.092)
Yeah. Let's what I'd like to, you know, as we kind of wrap things up here, let's, let's talk about, let's talk about a couple of things that seem to be, that are on my mind. And, and they are, they are a little bit like concerns, meaning, you know, I don't want anybody that's listening or watching this or something. I want to make sure that people kind of protect themselves going forward. For one thing, I, I, I've been in this space long enough and
G G (01:13:10.066)
Hmm.
George "Jethro" Bodine (01:13:27.202)
because of, I guess, just some unique things, I've managed to be around a lot of different people that are, I guess you'd call them influencers, so to speak, in this space. And I want you to know, these are just ordinary people, and some of them have agendas, and you just have to understand that. So when you listen to people, even myself, like this, you should question everything I say. And if you use that,
going forward, that's going to stand you in good stead. You know, this last cycle that we went through, I mean, it became very clear to me looking back that there were people involved in this space that definitely had an agenda and it wasn't necessarily for your benefit. Their agenda involved their own, you know, whatever their own plan, so to speak, that they had. And then the other thing that kind of couples in that is I want to talk about some of these Bitcoin treasury companies because
G G (01:14:23.687)
Mmm.
George "Jethro" Bodine (01:14:25.44)
It's becoming the flavor of the week here lately. Now, I've already divulged that I'm invested in MicroStrategy. I'm a strong believer in strategy's unique position in this Bitcoin treasury company space. And that is based upon both their size, their vision, their transparency, et cetera.
G G (01:14:34.225)
Yeah.
George "Jethro" Bodine (01:14:53.836)
I'm confident I've done research on MetaPlanet and quite frankly, because of their unique position within the Japanese market, I'm comfortable being invested there too. And again, what have they done similar to Eric Semmler? What have they done? They've been transparent. They've told you our goal is to buy nothing but Bitcoin. We're not going to sell our Bitcoin. We're going to accumulate as much Bitcoin as we can. And then you have every
every company on the planet now starting to move in this direction and it's going to accelerate. So if there are 160 to 200 companies now, pretty soon there's going to be a thousand companies. Maybe within a year there's going to be thousand companies that are telling you that Bitcoin is part of their treasury operation or part of their balance sheet. Many of them are going to be relying on what we call MNav, the idea that there is a premium associated with that company
And therefore, when they purchase those bitcoins, they are going to accrete more Bitcoin for you per share.
So I'm going to tell you something that you should think about. If that is true, if they have a premium to their underlying asset, which is what an MNAV premium is, and they are buying more Bitcoin per share for every time they go out onto the market, either an ATM or maybe a convertible bond, what is going to happen?
If we have a downturn significant enough that those MNAVs begin to compress towards one, what if I told you that in the future, maybe five to 10 years down the road, all MNAVs should probably compress to one, which makes sense because there's only 21 million Bitcoin. So what if the MNAV actually went to a discount? Now we've already seen strategy. What did they do when they're
George "Jethro" Bodine (01:16:54.978)
They actually went to a discount. What did they do? They didn't sell anything. They kept their Bitcoin. They kept stacking. I expect MetaPlanet and other companies like that to do the same, to view it as a buying opportunity and to continue to, if not stack, because there's no premium, to at least hold on to the Bitcoin that they have.
What about these other companies? If they're accreting in an NNAB that's positive, what about when it goes negative? What if these other companies, these 100, 200 companies, some of them are miners, Bitcoin miners, what are they going to do? What should they do if their mandate is to protect the shareholder? I'll tell you, if you work it out on paper, they're going to start selling that Bitcoin.
And they're going to acquire their own shares because that's what they're going to do to protect the shareholder. There is a possibility of what's called a recursive feedback loop in these operations going forward. So I just want you, if you're a Bitcoiner and you're investing in these companies, you should understand what these risks are going forward. And I'll finish it on a positive note, which is this.
All the things that I just discussed should tell you that above all else, the most important thing that you can do as a Bitcoiner is to acquire Bitcoin, keep it in cold storage in your possession with your keys. And then again, doesn't matter if the rest of the world gets pissy at you. Doesn't matter if they are mad at you. Doesn't matter if administration comes along that wants to take your Bitcoin. Doesn't matter what happens to these treasury companies.
None of it matters. And if I hold Bitcoin, which I do, and I hold MicroStrategy, which I do, and I ever had to sell one of those, what do think I would sell? I'd sell every bit of that strategy shares, every bit of it. I don't give a shit what sailors doing or anybody else. I care about Bitcoin. Bitcoin and cold storage is the ultimate risk off at set and will set you free. So.
George "Jethro" Bodine (01:19:12.694)
I just wanted to get that out.
G G (01:19:15.119)
Amazingly said, and it's definitely something that people are definitely not talking about, at least publicly on the town square of X at the moment, everybody's talking about, you know, all of these Treasury companies coming in. But I had the same thought, George, but I didn't get a chance to discuss it with anyone yet. Where are
George "Jethro" Bodine (01:19:33.826)
Well, we're discussing it now.
G G (01:19:35.577)
I know. I'm happy you brought it up because I agree with you. know, I haven't done so much studying into them as yourself. And for disclosure, I don't hold any stocks, including strategy or MetaPlanet, but I have nothing against other people doing it.
I realized that from my gut is telling me that at some point when things are going to go sour and it won't be favorable. It's like if you look back seven, eight years ago when I started my journey and blockchain was the main thing. Every company that added blockchain to their business operations, their shares just went through the roof. was 500, 600 % gains.
Same thing we're happening to see we've seen today with companies coming out and saying, oh, we're starting a treasure and we bought 50 Bitcoin, 100 Bitcoin and put it on our books. And suddenly their stock price is booming. I'm like, I've seen this before. And that didn't play out good before. And I don't think it's going to play out good this time as well, because yes, strategy are a bit of a different beast. And they were essentially the first ones to start doing it. So.
If that house of cards is going to go down, they're the last ones to go down. But I think the smaller fish are the first ones that don't have this low time preference that are doing it in the hype cycle. How do we sustain our business that's already practically dying, just like MicroStrategy was, but they're in a different league. But at some point they're going to have to start selling that Bitcoin. Because as you said, their main priority is keeping their shareholders happy and not being sovereign companies.
George "Jethro" Bodine (01:21:04.398)
I want to make sure that I do put out the fact that I don't think this is from being over leveraged or debt. In other words, this is not like the last cycle where we saw companies over leverage or lending to each other the same thing, starting out with fart coin and then levering on fart coin. then basically they all became inbred. And when one failed, they all deleveraged. But that's not what I'm talking about with these companies because like
G G (01:21:11.054)
No, no,
G G (01:21:17.53)
Mm.
G G (01:21:25.181)
Yeah.
the whole cards. Yeah.
George "Jethro" Bodine (01:21:33.022)
We'll just use strategy again when they issue at the market or these convertibles that they're doing the perpetual preferreds They're actually not and they're not over in debt. In fact, many of them over collateral collateralized like I think maybe 50 to 1 on some of them so that's not the issue and and the issue really is what I'm talking about if Bitcoin has a downturn and these MNavs compress or as we get more and more companies in the space They should naturally compress
G G (01:21:34.62)
Hmm.
G G (01:22:02.673)
Hmm.
George "Jethro" Bodine (01:22:02.834)
That begins to make, it should make you just a little bit nervous because it's not again that they're going to be over leveraged, although some of these new companies may be in fact, or who they're lending to. And that's another thing that's coming down the market here. We are going to see all kinds of lending products coming for us. mean, tremendous innovation right now occurring in the Bitcoin lending space.
from mortgages to bit bonds to everything you can imagine that's going to have some kind of yield on Bitcoin. I'm just talking about the fact that naturally you should follow that MNAB number probably more. I think it may be the most important KPI or that you're key to focus on other than... Well, actually, I think that of all the Bitcoin treasury companies, I think that is the metric that you should follow the closely.
G G (01:22:56.199)
But you know what I find ironic, George, if we take a sideman's perspective of what we're discussing here about what we're currently seeing with people flunking their cash to buy shares of a company that takes those shareholders cash and then goes out and buys Bitcoin and puts it on their treasury and they hold their keys.
Wouldn't it be incredible if those people would just directly buy spot Bitcoin, smash buy and put it into cold storage and avoid all of this hypothetical downturn that we're discussing that could possibly happen? Isn't that crazy?
George "Jethro" Bodine (01:23:25.015)
Ha ha.
George "Jethro" Bodine (01:23:30.284)
I like that. Yeah, I do like that. But you the thing is you have to realize, you know, for me, I ended up in strategy because it was an ETF program and stuff. No, no, but, but I want to say, I want to say something, which is that, you know, I've always framed that decision in holding some of these companies as one of leverage and really, because let's face it, they have the ability to raise capital.
G G (01:23:36.869)
No. I didn't mean for you personally,
George "Jethro" Bodine (01:23:59.864)
that I cannot. And so if you look at their performance of say strategy, since I've held it, they have done just what they said. They actually have accreted more Bitcoin per share. So if I liquidate the shares and get a fiat dollar price, I can actually turn that into more Bitcoin. And it's I mean, I can prove that it's just on paper. So it works in that sense. But what I'm trying to say is that you should be very careful because
G G (01:24:10.191)
Outperformed Bitcoin. Yeah.
G G (01:24:19.9)
Hmm.
George "Jethro" Bodine (01:24:29.76)
Not every company is going to have the access to those markets. Again, strategy, if you just look at them, and they're the beast, they are the elephant, they are the storm that everyone is being sucked into. If you look at them, they are actually entering these capital markets. They're building out a yield curve on these products that didn't exist before. And they are showing TradFi that this market is much bigger than what you think.
G G (01:24:33.541)
Yeah.
George "Jethro" Bodine (01:24:57.868)
And they've developed relationships with these QIBs, these qualified institutional buyers. And they're shopping these yield products out and they're negotiating how they're going to work. So they're doing it all right. I mean, I don't have any complaints. I'm just saying that, you know, all these wannabes, all the clones that are coming into the market, if it's a thousand next year, you know, you should probably look at them pretty carefully before you start investing in them.
G G (01:25:23.463)
That's fantastic advice. Yeah, you know, at the end of the day, do your own research. We, as we say in the space, don't trust verified. Check it yourself. But you brought up a fantastic point, you know, from strategy. Love them or don't love them. They're like this norecho whale that, you know, when it opens up its mouth, it just sucks everything in and it's like a black vortex. And that's what is happening today. Like.
Michael with strategy is really playing not even for the 5d chess like he's laying out new instruments like and sometimes you you listen to some of the stuff he's saying and I I lose track of it. He loses me like halfway through through his thought on that one point But yeah
Don't think that every company putting Bitcoin on their books will be strategy 2.0. Just like there is no second Bitcoin that outperformed it and kind of Bitcoin place the rules and similarly with the treasury set up strategy is setting up the rules. So tread carefully with your investments.
G G (01:26:27.037)
Do you want to round it up on that, George, or anything else that's been on your heart or your mind recently that you wanted to touch upon since we're on air?
George "Jethro" Bodine (01:26:36.59)
You know, I just want to get back to that idea that, you know, at the end of the day, this is a very short life that you're involved in. And it may not seem like that if you're young, but looking back over, you know, I've lived a life that's just very full and rich and action packed, more so than...
G G (01:26:47.197)
Yeah.
G G (01:26:58.287)
I mentioned in the intro, we didn't even go into it, but like you've lived, George, a life compared to like five, six different people combined into one.
George "Jethro" Bodine (01:27:08.076)
But, you know, I'm just, I think what I'm getting at is I'm very lucky to be alive, you know, looking back, I'm just very grateful for it. And so, you know, if I can give you any insight of what it's like to be, you know, getting to a point where you're looking out on the horizon and you can see your own block height out there, you know, it's coming for you. You realize that the things that were really important or something that you touched on earlier, they're all free. They all involve the things that are.
G G (01:27:12.839)
Yeah.
G G (01:27:26.929)
Hmm.
George "Jethro" Bodine (01:27:35.246)
close to human beings over the last 10,000 years. And that's just relationships with people, the people you love, friends and family. You know, if you really understand Bitcoin, you're going to be at peace. You're going to be at peace. doesn't matter what the price is doing. You're going to be at peace, even if other people aren't stacking. You know, if your family kind of thinks you're an idiot, you're just going to be at peace with it because you know you're stacking for them and for your, you know, the people you love and, and,
You know, take care of yourself, you know, work out. get to be past 50, 50 is the age. When you get past 50, you got to work out every day. You just work your ass off. mean, you just work, work, work, work. And then, you know, live a good life. mean, and be, be happy and cheerful, you know, and, engage with other people. I know I'm talking a lot this particular episode, but you know, you met me there in Prague in real life. I like to listen to people. really do. Cause
G G (01:28:28.145)
Yeah, of course.
George "Jethro" Bodine (01:28:30.806)
I know my story. I like to listen to other people and hear what they have to say. Anyway, you're just going to have a great future, kids. It's going to be incredible. I'm really both envious and really excited to see as much of it as I can unfold.
G G (01:28:46.981)
Amazingly said that I love it George and thank you for being a part of this journey and sharing everything that you share You know, I highly recommend anyone that hasn't been following George Bodine on on X to go and follow him because the inspiration that you do by You know living the Bitcoin life and putting it out there Maybe not so many people get converted But even if it's a handful of people that go wow, like George is really living that life like that inspiration at least to me I'm already living my Bitcoin life, but every time I
one of your posts, I read it thoroughly and it gives me a reassurance that I've made the right decision not to chase that promotion, chase that...
big money, it's all about living in the moment, enjoying and living on your own terms. And at the end of the day, going back to we're here to love each other, enjoy mother nature, help out each other and try and make this world a little bit better when we leave than what we found it with when we started our journey.
George "Jethro" Bodine (01:29:48.354)
That sounds good bud. I've had a good time. I'm glad we did this, Gigi.
G G (01:29:52.413)
Yes, likewise. And I'm glad that I met you in person just a couple of months ago in Prague. And I look forward to again, as I mentioned recently on a comment of one of your posts, hanging spending more time with you around the world. May that be Prague next year or somewhere else. Because at the end of the day, what we're left with are the experiences that we have with our loved ones, with family and close friends. And yeah, everyone listening, we hope you enjoyed this episode. We took you on a roller coaster ride, not just on price action, but
actually on emotional action. And at the end of the day, some topics are hard to listen to, but it's important to discuss them. And I think we took a unique take with George. So thank you so much, sir, for coming on, sharing your thoughts, doing everything that you're doing. And I truly believe that you have a long, still journey ahead. And I look forward to doing this again and seeing you in person soon.
George "Jethro" Bodine (01:30:46.296)
Thanks Gigi, you have a great day bud.
G G (01:30:49.059)
And thank you for everyone for listening. Please, if you enjoyed it, drop a like, share it with family and friends, whoever you think really needs to hear this story. And yeah, we will see you next Tuesday. Stay curious, stay sovereign and until next time. And we...
– Intro
- George Bodine’s Unbelievable Background
- $8 Billion Bitcoin Dump and Market Resilience
- MicroStrategy’s Mega Halving Strategy
- The Omega Candle and Price Set at the Margin
- Smash Buying vs DCA: George’s Stacking Journey
- VolaFlity, ConvicFon, and Studying Bitcoin
- Satoshi Scarcity and the Timeline to 2140
- Unit Bias and TargeFng 0.1 BTC
- Market Cap Growth and the 10-Year Outlook
- HyperbitcoinizaFon or Slow Burn?
- The Matrix Analogy and Bitcoin Individualism
- Resentment, Envy, and Future PersecuFon
- Self-Custody, Seed Phrases, and Escape Plans Block height: 909020
