Transcript
Let me tell you all the downside of Bitcoin.
Because everyone's got a boner.
Everyone's happy. Bitcoin's going to the moon. But there is a downside. I hate to be the internet's pessimist.
But I'm certainly the Internet's realist. And as a realist, you have to talk about the light and the dark. Because they go hand in hand. The yin and the yang.
This is the way the world has always been. You're that guy who gets excited. You meet that girl in Miami and she's got big titties. You're like, oh my God, wow, look a girl.
And I'm the guy who tells you she's a hoe.
Now, I'm not saying her titties ain't nice. I'm not saying she's not a hoe. I'm saying she's also a hoe.
You want to ignore that part and just see the good part.
The reason I win is because I see it all.
So I'm gonna talk about the downside of this Bitcoin boom, because there is a big downside.
Now before we begin,
In case you didn't know.
I'm not a rich guy.
And I'm not a dork.
What I am is a poor guy
with lots of money.
You know, so you have those rich people who were born rich and their families rich.
And you have those dorks who talk about money all the time. You know you see them on...
MSN, CBN, LBC, whatever it's called.
And they have 300 grand in a 401k. And they check the stock market every day. They talk about bond yields and interest rates. And they talk about money like they know about money, but they really don't even have that much money, like 300 grand's lunch, who cares?
but they know all about it.
I'm not that guy. I'm the same as you.
I'm just you with loads of money.
If I need to know about interest rates or bond returns, I hire a dork.
I'm like, how much do you want? Pennies? I do it then.
I'm in all business, I don't care.
You do it.
So I'm a poor guy with lots of money. However,
So I won't talk about this from the economic
Economist.
dork standpoint. I'm going to talk about it purely from an investment standpoint because I am a man
who the world loves.
I'm internationally revered.
Nobody thinks I'm a human trafficker. Nobody dislikes me. Everybody loves me.
And because I'm loved, and because they know I have lots of money, and because they know I'm easy to work with,
I'm an easy to work with guy.
And Drorini 10 mil. Why? For this.
Might work, alright.
Ta-da! I even have a venture capitalist firm. You, watching this right now, can go to fundraiser.com and submit me your business idea, and if I like it, I'll give you money.
I don't care. Take it. I have money.
So for me...
Thank you.
I'm all about trying to make my money.
not melt. I'm trying to outpace inflation, which is extremely difficult to do.
You Brokeys don't understand, but when you have millions and millions and millions and millions and millions
and millions and millions
*sad music*
and millions.
and millions sitting in a bank
You're trying to make the number go up because each year the number goes down in purchasing power because of inflation.
And the problem we currently have with this Bitcoin
cycle is that nothing can outperform Bitcoin, which sounds great.
But I'm starting to sense
A genuine breakdown in capitalism. I'm being serious here, gentlemen.
Thank you.
People submit me business ideas all the time. I'm making this video because 48 minutes ago, I was sent a business proposal by a very good friend of mine, a man I've done business with many times before. He's German. He's extremely competent. He knows exactly what he's doing. He's a hotelier.
He wants me to invest 16 million into a hotel in Switzerland.
And I've looked at this whole proposal, and I've sat there and thought,
Why not just buy Bitcoin?
I have to...
get this hotel. We have to find staff. We need plates, cups. We got to make sure we're not getting ripped off on the stakes. We got to make sure he's not feeding his friends for free. We got to do all the licensing. We got to make sure there's a...
fire extinguisher in every corner. We've got to get the hotel fitted out. We've got to advertise it. We've got to put people in it. Then if I ever want to sell it, it's going to take years. We've got to pay all these taxes. We're going to do all this work.
For what? 10% return? 20% return?
I can just buy Bitcoin.
and then go on a boat
and then accidentally lose it and I'm done. I ain't gonna mess around. I got sign your papers. I ain't gonna read German.
Guten Tag und schausten wagen zu gagen.
You should go wagging, gawging, fucking Bitcoin.
And now I find myself, every time someone offers me a business opportunity,
And I have endless.
Commercial property, building warehouses, hotels, another cigar bar, another restaurant, another coffee shop, all these things I own.
I'm like, I'll just buy more Bitcoin.
But how can capitalism function when everybody realizes this?
Where's the investment?
Who's going to build anything?
Same with real estate.
I get distressed property deals all the time.
I used to be
in a previous life.
Part of that world.
You know?
I know those guys.
The guys who make a bunch of money with drugs catch a case. Those guys. I get messages all the time.
Bought a house for 20 mil,
Thank you.
and National Crime Agency are going to lock me up. I'll sell it to you for $15.
I'm sitting there going...
I don't even want cheap real estate anymore.
I don't want your cheap real estate. I don't want your business ideas. All I want is Bitcoin.
Now that's just me, I understand. But as the whole world realizes this, I'm asking you,
people at home.
How can things continue to function if everybody's just trying to get Bitcoin and nobody's trying to invest in anything else?
This guy want me to open the hotel. He wants 16M.
I've lost 16M.
In casinos,
with a seven.
She wasn't even pretty.
I've been in the casino.
and I've lost 16 million dollars.
with some
Female.
I'm talking to the crypto community here. I'm trying to not swear.
Sandra, I think her name is.
I remember saying, I've never met a beautiful woman named Sandra before.
And she goes, really?
It's like, really?
I guess she thought I was saying she was beautiful, but I wasn't.
Thank you.
I'd rather just buy Bitcoin.
And I think everyone's basically thinking the same now.
The world's smartest people,
besides Elon, who's doing real stuff, aren't doing real things. They're hiding behind cartoon avatars and getting little magic internet coins on blockchains. And nobody's building anything. Nobody's investing anything.
Nobody with capital is interested in doing anything else.
I don't know the conclusion of this. However,
I identify from a personal perspective that to a degree, capitalism must be broken. I don't know how this is going to play out.
As Bitcoin continues to outperform everything forever, everyone scrambles for Bitcoin. Bitcoin owners get monumentally wealthy. That's fine. Most Bitcoin owners never want to sell it because it's deflationary.
The only thing worse for an economy than inflation is deflation.
If I said to you, "That Ferrari will be worth, you can buy that Ferrari for half the price next year," you'd wait.
And then when that year rolls around to say, wait another year, you get it for half the price, you'd wait again. Money stops moving with deflation.
Deflation will crash an economy quicker than inflation.
So what happens now?
Me, Mr. Hundreds of Millions...
Probably the most frivolous investor in history. You've seen Shark Tank? Shark Tank?
They're all dorks.
Oh, right on return. If I like your handshake and I like your suit, I give you money. I've always been that guy.
I've made money, I've lost money, I don't care. I throw money around.
And I'm no longer throwing money around. I'm just buying Bitcoin.
So how does the economy continue to function?
How do things continue to get built?
How do investments continue to happen as the world wakes up and realizes that Bitcoin's the best investment? Because it is. It is better than everything else.
for a whole bunch of reasons. Don't ask me! Ask Michael Saylor. He'll explain it in some fantastic way. He'll use dungeons and dragons.
fucking spaceships,
*laughs*
Motherfucker telling the whole story.
Lord of the Rings,
I ain't got time. I'm just telling you it's the best.
Because I can instantly liquidate it.
I buy that hotel
Guten Morgen, guten Morgen, brah.
I got shit to do.
So the downside of Bitcoin is I think it's going to genuinely stop the economy if it continues on this run.
What's the solution to this? Well, I don't know if it can be stopped.
How do we plan for these things?
Game theory would
argue that you should just get as much Bitcoin as possible and be on the right side of history. That's fine.
But I still like hotels. Like, I can't sleep in my Bitcoin.
I still like hotels.
You know,
One of my females said to me about...
Six months ago, she said, "Why are you buying that car?" It was a Kernan-Zeg Jesko. It was my fourth one.
4.5 million.
So if you buy, if you believe in Bitcoin so much, why are you buying a Jesco? You should just buy Bitcoin with it and then sell it later and buy the Jesco. And she's right.
Bitcoin was like 55,000 at the time.
I could have got the Jesco for half price.
But I said, the problem is if I buy Bitcoin, I will never sell it.
So I can't buy Bitcoin and sell it later because I don't sell Bitcoin because I'm not gay. I'm not paper hands. I'm diamond hands. So anything I put into Bitcoin stays forever.
So I want to be the guy with the Bitcoin and the Jesco.
That's the difference between me and these crypto dorks. These crypto dorks don't want Jescos, they don't want anything. They only want Bitcoin.
I want all of it.
I want hotels, I want Jescos, I want Bugattis, I want a jet, I want a yacht, I want Bitcoin, I want everything.
So somebody needs to give.
Stefan Strauss, Mr. Germany, this 16 mil. But I ain't going to do it.
Are you?
Maybe nobody is.
Too busy buying fucking Pufar.
An E!
I don't know.
I'm just talking out loud here.
Thank you.
I guess.
*sad music*
Truthfully, I have so much Bitcoin, I don't give a shit.
I just like to observe the downside because
We talk about
countries making Bitcoin a national reserve. We talk about it overtaking gold and all these fantastic things.
And I agree with all of it.
My question, and this is a genuine question, I'm not giving you the answer, I'm actually asking.
What happens to the economy?
Once everybody realizes there is only one investment worth making on the planet.
We'll be right back.
.