THE BREAKDOWN #641 -- Live with Michael Saylor - Bitcoin & Market Talk

Welcome to the breakdown episode 641

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Terms apply.

Terms apply. [cheering]

Terms apply. All right, let's go. What

is going on, my [cheering] people?

Episode 641, sponsored by Gemini. We are

here. Produced by Gotcham Media. Shout

out to Shout out to [screaming] the

people behind the scenes working their

asses off.

Yes, sir.

Okay. All right. I told you. I told you.

Um

kept on telling you guys

1219 2025. Save the date because at 1:15

p.m. Eastern Standard Time, we will have

Michael Sailor on and we will talk about

obviously we'll talk about Bitcoin AND

THE MARKETS.

>> [cheering]

>> MICHAEL SAILOR HAS CHANGED, which is

crazy to say. This is really crazy to

say, but he's changed my perspective on

Bitcoin again.

again.

You guys already know I love Bitcoin,

but he has changed my perspective on

Bitcoin again. Again,

we'll talk about that though. Uh, we'll

try not to be boring. I'll try. I'm

smiling because you know, you're not

going to have a boring show. It'll be

pure entertainment. I'm sure Michael

will laugh out of it. But it's 12:03

p.m. Eastern Standard Time. It's Friday.

The markets are a bit up. Bitcoin's a

bit up. I I don't even I don't trust it

right now. I don't trust it.

Two days, the last two days, this going

into the third. Nope.

Nope.

It is what it is. [laughter] It I am not

not going to fall for it.

I know what you're trying to do. I'm not

going to fall for it. I'll wait. I'll

wait and I'll DCA. As I wait, I I might

go ahead and throw a few bucks in DCA.

That That's You already know my

strategy. Spot, buy, DCA, hold,

and then sell when you feel it's right

to go ahead and unload. That's it.

Bottom line.

I'm not trying to make life too

difficult, man. I'm not chasing money. I

already told you that. By the way, I

came off of some wonderful conversations

this morning. Shout out to I can't even

name these people, but I had some

wonderful conversations. [cheering]

By the way,

davidging.com,

it's up. [cheering]

You go to davidgoshin.com. [screaming]

If you want to know more, you want to

contact me, you go straight to

davidgoshin.com. That's it. I'm not

going to be out here telling you when I

came in and where where I come from. No,

no, no. You can get the whole history

there. DAVIDGOTCHIN.COM.

[cheering and applause]

FINALLY,

like I said, I'm not homeless anymore. I

finally am not homeless anymore. I'm not

homeless. I'm not homeless.

I'm definitely not homeless anymore.

Um,

we will have call-ins today. We will

have call-ins today. I'm going to put

the number up.

Sent here by a rumor. It's not a rumor.

Sent here by a rumor of an interview

with Sailor. Yes, I will be interviewing

Michael Sailor. Yes, we will. We will

have a conversation and I think we'll

have a good conversation. Anyway, let's

look at the total market cap. 2.97

trillion.

That's the total market cap

and that is from coin market cap by the

way just coin market cap $2.97 trillion.

We got Bitcoin at 87870.

Bitcoin ain't going to catch me again.

I'm waiting.

I'm waiting. You guys want to talk about

Bitcoin's going to 73,000 75

67? No problem. I'll wait. Buy more.

I don't care. I'm not in no rush. I'm

not trading.

I'm accumulating wealth. That's how I

look at it. I'm not trading. You guys

can go ahead and trade one minute

charts. Go ahead. Do your thing. And I

by all means, that's your day job. That

that's your job in general. You don't

feel like sleeping, we had Arthur Hayes

on. You don't feel like sleeping, you're

dedicated to the craft. God bless you,

man. leverage purpose. Oh, God bless

you. You do that. I'd like to have my

hair intact. I like to have my black

hair intact. I don't need to be chasing.

I'm not chasing an extra one or two,

three. I'm not in a hurry.

Ethereum's at 2974.

We got uh BNB at 8.48. We got XRP at

$189.

Salana's at 125. Man, Salana look rough

yesterday, man. Angle of front. It

looked rough.

It looked rough.

It look rough.

Tron is still at 27. Yep. 28 27 28. Tron

Tron doesn't move. That's a stable coin,

bro. That is a stable coin.

Uh, we got Doge also sitting at 13

cents. It is up 3% on the day. You got

Cardano at 37.

Man, I can keep going to this. Link is

up. It's up 12. It's up to $12.56. Chain

link. You know, I'm bullish on Chain

Link. I like Chain Link. You got Monero

is up.

Zcash is up 435. Zcash is almost up

almost 10%. 10% in the last 24 hours.

Not bad. But again, I don't trust

anything right now. I don't quarter one

quart. But that doesn't mean that I

won't buy. Like that that doesn't mean

that I'm not buying. Like that won't

that doesn't mean I'm not buying

Bitcoin. Like that doesn't mean I'm not

buying it. It just doesn't mean that I'm

not buying. I'm just saying I'm not I'm

not sold right now. I'm not sold.

Santa's rally has been one.

Santa's rally is broke. Okay. Santa's

giving out boxes full of nothing.

Santa's in on this, too. Santa was in on

October 10th, 2025. I believe Santa

Claus had something to do with what

happened on October 10th, 2025. I'm

telling you right now, MAN.

[cheering and applause]

>> I am telling you right now, I'm not I'm

not even playing. I'm not even playing.

I think Santa

[laughter]

had something to do with it.

Santa angle will play me. Santa had

something to do with it. Okay. Santa was

part of it.

100%.

But this is all about buying by the way.

This is all about buying

for me personally. You buy towards the

bottoms, right? You're not buying the

tops,

easy.

Like, if you've been here for a while,

this should be easy peasy for you.

Nothing should be like this market.

Well, uh, this market, by the way, if

the cycle ended today, this is the worst

cycle ever.

See how I'm going back and forth?

This cycle has made people a bit

bipolar

cuz like if the cycle ended today, this

is like the worst cycle ever. Like the

wor not for Bitcoiners, but like

everything else I mean

people like, "Oh, but this one ran and

that." Yeah. Yeah. It's like Bitcoin and

four other things ran. That's it.

Everything else did nothing. Zero.

Zilch. Not a

nada.

So I don't believe that the cycle is

over.

I I I I firmly stand

in the position of either

either we came early to the party or

or

there's no cycle.

That's it. It's e it's either or. It's

either or.

It is either or. I wanted to get

something up here. One. Give me just a

second, ladies and gentlemen. And then I

will go to the like, do y'all want to

call? I know a lot of people wanted to

call up. So, we'll do that also. So,

give me just a second. Live show. We're

doing live things. Give me a give me a a

sec here.

Give me a one second. Need to post

something up, man.

How can what? I tried to do this before,

but

Hold on. I tried to do this way before.

By the way, if my equipment goes out, I

give up. Like, I will absolutely give

up. I'll be like, "F this. I am out.

That's exactly what I'll say. Like, f

this. I'm out.

But, okay, markets mostly in the green

where we're like, we're hovering at that

$3 trillion mark in total market cap.

Tra I don't know. I don't know what

traders are having fun. I'll ask maybe I

should bring on a trader and ask them

like, are you actually having fun? I

know people in the meme economy are not

having fun. I know they're like, what

the hell is happening? Uh, all coiners

are also

>> before Bitcoin you would have bought.

>> No, no, no, no, no, no, no, no, no, no,

no, no. Quarted in time. Quarted in

time. Yeah, I don't know, man. This

There you go. I'm back. I'm back. I'm

back. I'm back. I needed to upload

something.

But seriously, it's like, what is this?

What is this? What What What type of

cycle? I I didn't sign up for this [ __ ]

Like there has to be a bunch of people

that are like, "Yo, I did not sign up

for this. I did not sign up for this."

There ain't no way in hell I signed up

for this [ __ ]

Damn. Okay.

Sorry. I'm getting like text messages. I

I should turn my phone off. I should

really turn my phone off.

I'm like getting text messages all over

the place.

It's It's wild.

Um,

By the way, you can tune into the shows.

We're all over the place right now.

We're all over the place right now. Yo,

don't spam, guys. Don't spam in my chat.

Come on.

Come on. The hell is that? Spamming in

my chat. Anyway,

um,

now that I got everything situated,

again, at the end of the day, for me,

I will continue buying.

I think if if if we're going to talk

about bottoms, well, I think we're close

to a bottom. Okay. I don't believe we're

going to $40,000.

Oh, I I really don't believe we're going

to $40,000

Bitcoin, but if we do, then I'll buy it.

Like, I don't I don't even understand

that mentality when people come on to

social media and they're like, "Oh, it's

going down. That's it. It's going to 40.

It's going to 40,000.

It's going to 40,000. So what? So what

if it goes to 40,000? So what? That

means that I get to buy it cheap.

Wait, you think you think it's over

with? You think because Bitcoin were to

go like hypothetically speaking, Bitcoin

would go down to $40,000, it would be

over?

Are you not watching what's happening?

Like how many times do I have to say

this? We are going digital.

We are going digital. The first thing

that people want to get their hands on

nation states, institutions, they want

to get their hands on Bitcoin.

The problem is a lot of you guys a lot

of you guys came here expecting to make

millions of dollars within three days. I

keep on saying this. You got the minute

rice mentality.

You You think like, oh, if it if it

didn't hit over if I didn't I signed up

for an ex account. I came on to Twitter.

I signed up for a Twitter account. Why

isn't Why am I not a millionaire yet?

That's the problem.

Nobody's taken the time to understand

what Bitcoin is or any digital assets

that you hold.

I can go ahead and talk about Bitcoin

forever, but we can talk about the rest

of the market.

You you guys haven't Have you even

looked and studied

and dived deeper

Do you understand? At some point, at

some point,

five years from now,

when Bitcoin is at $500,000 or $700,000,

you're going to be like, "Holy [ __ ]

I was like right here when it was at

88."

You know what's funny with like human

psychology, right?

Bitcoin's at 88,02 right now. That's

expensive, right?

When Bitcoin goes to $500,000,

$88,200

will be cheap

and you will have a bunch of people

kicking themselves.

Why not frontr run the institutions?

Like front run these people? Get in. Get

in before everybody else gets in. Who

are you waiting for?

I I really don't get it. Like what's the

green light that you're waiting for?

Do you need somebody to tell you that

you can actually go in? Like you you

need somebody to tell you like you can

go in

if you need honestly if you need

somebody to tell you hey you know you

you can go into Bitcoin now you you

really are doing it wrong and I I

already know what your portfolio looks

like.

It looks like dog [ __ ] If you're

waiting for somebody

to help you cross the street,

you're in a bad position.

100% in a horrible, terrible position.

At some point, man, you got to recognize

these opportunities, man. At some point,

you don't got to buy a whole Bitcoin

right now.

You You literally do not have to buy a

whole Bitcoin right now. You could buy

$500 worth

a fraction at 500 a fraction at a,000

weekly.

If you don't want to go ahead and buy a

full Bitcoin,

the product,

I'm just saying.

I'm just saying. Anyway, we'll be back

right after this commercial break from

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>> [cheering and applause]

[screaming]

[cheering]

>> WE'RE BACK. ALL RIGHT, we'll do our call

in session [screaming]

as always. We'll do call in. That's

right. You can call into the show

347-63023.99.

We could chop it up about the markets.

Let's recap the week. If you got any

questions, feel free again. 347-6302399.

Let me put it out there into the

universe.

There's a lot of people might I forgot

to retweet my own goddamn live show.

Forgot to retweet it. Shame on me.

Shame on me. Here we go.

everybody wants a live show until they

get a live show.

Everyone wants a live show until they

Let's go ahead and do this.

[whistles]

Everybody's like waiting and waiting. I

know what you guys came here for. I know

what you guys came here for.

I know what you guys came here for. By

the way, since I have him in the back

real quick before I take some phone

calls,

let me bring him in. I hope this is him.

Let's see. It is It is him. Let me bring

him on for a second. I want to ask him a

question. Should I bring him on? I don't

know. Should I bring on the puppet?

It's not It's not lagging. How is it

lagging?

Let me go ahead and look.

Let me go ahead and look. I am not

turning this stream off, so I can care

less.

It's lagging on X as usual. X. Why

wouldn't it be lagging on X? Like, why

why wouldn't it? So, let me go to Let me

go to Let's see. Let's go to Tik Tok

real quick. Let's go to Tik Tok.

Not lagging on Tik Tok. Perfectly fine

on Tik Tok.

Perfectly fine.

Perfectly fine on Tik Tok. Shout out to

the people on Tik Tok. I see you. Shout

out to the people on Tik Tok. Let me

tell you something, man. The Tik Tockers

have embraced me. They understand what

greatness looks like. Okay, they

understand

what the people's champ looks like.

At first, they hated me. Now they love

me. Now they c they can't get enough of

them live streams.

They love it.

They love the energy.

So, shout out to the Tik Tockers, man.

Big shout out to the tick tockers. Shout

out to the moderators. The moderators

hold emergency meetings every day.

Anyway, let's get right to callers here.

What's going on? You're live.

I mean,

you're live.

>> [laughter]

>> Yo, you're live. You can talk.

Going once. Going twice.

Done.

Why would you call up and not speak?

Landy needs to Landy needs to sit in the

in the green room. Okay.

Land is gonna tell you that it's over,

that we're in a bare market.

You're live on the breakdown. What's

going on?

Okay, not you. We'll go to somebody

else. What What is happening? What is

happening right now?

What is happening?

Oh my god. Hold on. Let me see.

All right,

you guys can go ahead and try to call up

again. Let me bring in Landy. Landy,

what's going on? I I'll bring in Landy.

Landy, you ready to unmute yourself,

buddy? Unmute yourself, puppet.

>> Hello.

>> Hello, puppet.

>> I'm good, you puppet.

>> [laughter]

>> Hey. Um,

I

>> By the way, puppet, shut up for a

second, guys. You can still call in,

okay? 347-6302399.

I saw a bunch of people try to call in.

My bad. Okay, you can call in now and

I'll take your I'll take I'll take your

call, okay? And then we'll talk to Landy

a little bit about the market and have

him FUD Bitcoin. Even Landy is FDing

Bitcoin.

>> He is futing Bitcoin. I'm telling you

right now, him and Santa Claus were the

reason why Bitcoin dropped the way it

did. [laughter] It was him and Santa.

>> The Santa rally. Don't tell me about no

Santa rallies no more.

>> Hold on one second. We got a caller

calling in.

What's going on? You're live on the

breakdown.

I mean, is it just is it me?

Landy, it might be

>> double Ron here. Can you hear me?

>> Ron, what's Oh [ __ ] Everything's going

off.

>> Oh my [laughter] god.

>> This is crazy. YO, EVERYBODY. YO, WHAT

HAPPENED? SAILOR COME SAILOR'S COMING

ON. EVERYBODY EVERYBODY recognize the

breakdown or some [ __ ] What What is

going on?

>> I guess so. I guess so, man.

>> What's going on, Ron? I see you. I see

you hiking and stuff.

>> Stuff and I I've never seen this call in

feature, man. This is awesome.

Absolutely awesome.

>> Thank you, man. I appreciate it. I seen

pictures of you hiking, man. I see that

you're you're hiking. You're

>> you're staying active. You're going to

Mexican uh

>> every day, man. I'm doing I'm doing

every day, seven days a week.

>> All right. So, Ron, tell me what you

think about the markets right now. What

do you think specifically? Do you think

Landy was a part of uh what happened on

October 10th along with Santa?

>> Maybe. Yeah. Listen, October 10th was a

huge blow. I don't think I don't think

we realize kind of the damage it did

behind the scenes to some of the big

funds, to some of the big market makers.

I think I think there's I think there's

some big players teetering on the edge

of insolveny and they're just raping the

market every chance they get. You know,

they're grabbing every little crumb they

can. We see it. You know, 4,000 down

4,000. I think I think that's going to

take a little while to sort itself out.

I think there's other factors. I think

people aren't talking about China

dumping a lot of Bitcoin

and so I think there's a lot of factors

but you know what biggest thing is I

think we I think it's a blessing to us I

think we have maybe six months to a year

maybe a year and a half two years to

acquire Bitcoin. I didn't think we'd

have it at this point to be honest with

you.

>> I also didn't. So I I'm looking at this

as a huge positive and I think you have

three to four months. I mean, for me,

that's me. That's my personal take.

Landi's probably going to say you have a

a good four to five years or some [ __ ]

But for me, in this range, I think we

have a good I'm I'm busting this shop

today, but I think we have a good 3 to

four months to go and um to go ahead and

uh accumulate some Bitcoin. I I know

when you we say like 78 or 85 whatever

that like that's that that's expensive

but to me it's cheap compared to where

where it's going.

>> Absolutely. Like listen I remember I was

begging people at $3,000 to buy it.

Right. I finally gave up. Right. Those I

had people bet me it would never hit

20,000 again. You know, and it and and

look at us now. And and and then what a

few years ago we sat at 26,000 for 6

months plus or minus a,000 bucks. We

were there for six months. No one would

listen, right? How cheap is that

compared to where we are now? It'll be

the same thing when we're 200 1 million.

You know, it's But I I'm I'm I'm telling

you, David, I'm feeling the most FOMO I

felt in five, six years. I got to get

more Bitcoin. What can I do to get more

Bitcoin? And uh I'm telling you, it's a

blessing. It's an opportunity and we

need to be hitting it as hard as we can.

>> Listen, I'm I'm about to start I'm about

to create an Only Fans page

>> because if that's what I need to do to

acquire more Bitcoin. [laughter] Hey,

I'm I'm a I'm going to register an Only

Fans uh feed finder. I know a lot of you

guys are freaks trying to look at my

feet, so you know, just do these things

to [laughter]

Yo, Ron,

>> I'm gonna touch base with you. Hold on.

There's so many people trying to call

up. It's crazy. Um,

>> good to hear Ron's voice.

>> But Ron, it's it's always a pleasure,

man.

>> Cherish the downside.

>> Congratulations, man. You really stepped

it up over this last few weeks or few

months, whatever it is, man.

Congratulations. It's the time to do it.

Right now is the time. And I think next

year is going to be your best year ever

and all of our best year if we if we if

we lock in, man. That's what we need to

do. We need to lock in. So,

>> well, I'm [ __ ] back. Congratulations.

>> It's like John Wick, right? He retired

and then they, you know, something

happened to unretire his ass and that's

me right now.

>> I'm thinking I'm back. I'm thinking I'm

back,

>> man. I love it.

>> I appreciate the kind words, though.

>> You back. I I definitely appreciate I

appreciate you and I appreciate the kind

words 100%.

>> Uh you're you and and the show that you

have along with 305 like you guys are

are great and and I do appreciate you

guys.

>> Well, thank you, man. Looking forward to

the interview. I'm about to get me some

In-N-Out Burger and uh and sit down

still and be ready.

>> No doubt. Uh thank you very much and and

I appreciate you tuning in. We'll have

Michael Sailor on at 1:15

p.m. Eastern Standard Time. Um, we'll go

to charts right in the next 15 minutes

with Landy. Uh, Landy right now is

standing sitting here like he's Andy

Richtor, right? That was his name,

right? Andy Richtor from with Conan

O'Brien, I think. Yeah, you're that guy.

You're that guy. Okay.

>> Yep.

>> You're that guy.

>> The comic relief puppet.

>> The villain. You are the villain,

though.

>> You are the villain. You you want you

want this market to be like absolutely

disgusting.

>> No, no, no.

>> I believe that wholeheartedly. There's

nothing you can tell me.

>> Hey, look. I want the market to be low

right now so that people have

opportunity.

>> No, you don't. [laughter] Wait a minute.

What? What do you mean I don't? Hey, I'm

one of the few analysts out there that

have not called the top yet. Is the top

in. I just called a local top. I haven't

said it's a macro top. I haven't even

really opined. I've and they've

disagreed with my take and I have yet to

um say it's like cycle over or anything

like that. I'm of the opinion that um

any downside even from here or if it

goes up and then heads back down that

you should cherish the opportunity to

pick up cheaper sats.

That's it. Simple. I'm just going to

keep buying. I I I don't really care.

>> There's only so much. So, yes, keep

buying.

>> Just like just keep buying to get the

price, right? Like if the assets great,

like why

you got to look longterm, man. Like

honestly, like I I you know what it is?

Like I feel like I'm so repetitive every

day. Like don't you feel that way? Like

you become repetitive

>> after a while. is just like you're

saying the same thing. You're obviously

talking to a bunch of people that are

that are acting like they're walls,

right? Brick walls. Like just like do

not want to listen. But you know when

they'll listen? I I'll tell you when

they'll listen. They'll listen when when

when once Bitcoin hits like 500,000 a

million. That's when they'll have the oh

[ __ ] moment.

>> Mhm.

>> That that's when it'll happen. So like

listen, take this like right now.

you want to buy toward like I if this if

we're heading towards a bottom. Well, I

think we're closing in on a bottom. I I

can go any which way with this

conversation. So, why not take advantage

of it? Okay, let's say Bitcoin is

supposed to be let's say it's destined

for 67 hypothetically speaking and it's

at 80 what? 86 87 right now.

>> DCA all the way to 67. What's the

[ __ ] problem? What is the problem?

Why are you trying to catch the bottom?

And I I and respectfully, I am so tired

of hearing people, Landy, don't get

offended. I'm just tired of hearing

people

say that they called the exact number on

the bottom and the top. Like,

>> well,

>> bro, like then give me the [ __ ]

lottery numbers. Do me a favor.

>> I think

>> actually I think you guys should quit

and go and just play the lottery.

>> But it's not the lottery. Understanding

market mechanics and what's at play is

important to identifying opportunity,

right? You if you want to look, not

everybody should be a trader, right? In

fact, most shouldn't and most should

stay out of it. Um, but I have a

portfolio to hedge, right? So, when

price is rising, great. I'm not a seller

of Bitcoin. I'm a buyer of Bitcoin,

right? I would never tell anyone to sell

Bitcoin. In fact, I think that Bitcoin

is such a valuable asset and such a

valuable uh network that you should be

taking every opportunity to get as much

as you possibly can. So, when I'm

hedging to the downside or I say I'm

short, people take that as like, "Oh my

god, he he doesn't like Bitcoin anymore.

He sold or something like that or he's a

bad guy because he says price is going

to go down." No. If I say that guy

though, I don't I am the bad guy at this

moment. But when I'm when I'm short,

what am I doing? I'm I'm hedging against

my portfolio

and I am utilizing that to get more fiat

to trade back into Bitcoin.

And that's what um I think that's where

a lot of the misconception comes in uh

between myself and other people in the

Bitcoin sphere is that I'm willing to

trade it to get more Bitcoin and hedge

my portfolio. And that's a pretty

standard thing for traders to do. And

you know, um I think that any downside

price action should be cherished because

at some point Bitcoin will get its

expansion to the upside and it's going

to be a wild wild ride. Um once the

cohorts that um that that uh the

financial markets are trying to shake

out, one of those bigger co cohorts is

minors um because they're predictable in

the way that they sell. then they can uh

you know once that's done you're going

to see as the asset gets more

financialized more more buyers come in

price is going to going to go

exponentially higher because then it's

all about shaking out long-term holders

and the only way to do that is when

price is rising. You shake out

short-term holders to the downside. You

shake out long-term holders to the

upside. Right? And in this case, it's

been um it's been that way all the since

the bare market, right? All the way up

since the institutions got involved in a

big way from the spot ETF side of

things. So, you know, play the game. If

you're not going to play the game, just

have a plan for accumulation.

>> For sure. For sure. Guys, you can go

ahead and call in 347-6302399.

You are tuned in to the breakdown

episode 641 sponsored by Gemini shows

produced by Gox Media. I'm joined here

by Andy Richtor I mean Landy who is uh

shorting the market along with Santa

Claus. Right. The Santa rally. You're

going to get a lot of boxes full of

rocks in it. Okay.

>> I was about to go deep with this joke.

>> Wow.

>> I forgot I forgot that I'm on Tik Tok.

I'll take me off immediately.

>> Oh my god. They're going to they're

going to strike you.

>> I held up. I held [laughter] up.

I held up, man. Real quick. I was like,

"Shit, I'll get taken off." Uh, but

again, the phone number is 34763023.99.

If you just try to call, there was a

bunch of people calling in. My my

apologies. We had Ron on. Shout out to

Ron. Ron's been a longtime uh supporter.

Nice. You know, it's crazy, man. Like,

um, my DMs have filled up. I still

didn't get to everybody's DMs. I will

after the show. Obviously, again, uh

Sailor is coming on at 1:15 p.m. Eastern

Standard Time. Um

why did I hold it back? A lot of people

ask me why did I hold it back? Why

didn't I announce it a week, you know,

in advance or two weeks in advance? And

that's because like, you know what?

Y'all y'all have evil eyes. That's why

that's why I announced my guest like an

hour before this show. I always do that.

That's a superstition. That it really is

a superstition. And then we're going to

clip it up and we'll send it out all

over the place. But yeah, I'm I'm

definitely intrigued. Uh definitely

excited to have Michael on. I do want to

get his thoughts on Bitcoin. Um

I I know he sits through interviews and

he's consistently answering questions

about Bitcoin, but I have a few that I

don't know if he's answered before. So,

we shall see. Um, you know, we we shall

see. I I have I have I have some

questions, but I I will say that that

Sailor has again changed my perspective

on Bitcoin and and only I I guess only a

few people that are close to me would

understand that. Not that I wasn't

buying Bitcoin or holding Bitcoin. It

just see changed my perspective on it.

Like

I should be cra like I don't know. I'll

explain it after the show. I'll explain

it after the show, but my perspective's

changed a little bit more so now. So,

>> I would hope so.

>> What do you mean you hope so?

>> I mean, for years, for years, little

puppets on the internet have been Well,

not necessarily puppets at the time, but

have been screaming about how you should

get as much Bitcoin as you possibly can

before the institutions get involved.

>> What? I was saying the same [ __ ] What

are you talking about? So then what did

he change about your perspective? Well,

you I'll wait till the end of the show.

>> He is so

laser focused on Bitcoin.

>> Mhm.

you can't convince him otherwise like

the the the conviction there is so

strong

>> because he understands the mechanics at

play.

It

just it's not it's you can appreciate

somebody whether you I don't care. I've

heard so many people say, "Oh, I think

Shift was on here." He's like, "Oh, he's

mental and stuff with the way he's

doing." Like, no. Like that's why I say

to Shift, well, you're mental about

gold, right?

Like your your conviction and goal is

like nobody can break it. So, like

seeing that, especially on a young

asset, particularly like Bitcoin is

still a young asset to see that it's

it's really cool. It really is. And and

and you can apply that kind of

conviction into daily life in general.

So, I don't know. It just gives me it

gave me a different perspective. And um

obviously with everything that's

happened in this market, you see like

Bitcoin's the only really let's keep it

let's keep it real 100%. Like it's

really the only thing that really ran

here. this cycle. I mean, I hate using

this word, but this cycle, it's been the

only thing that's ran.

>> Yeah.

>> And which I don't know, you you didn't

hear my rant. I went on to TikTok and I

ranted about the fact that I I don't

believe there's a lot of things there's

a lot of things that I'm looking at,

Landy, and I swear to God, I just I

don't know.

I might say things and people will

scratch their heads and say, I think

he's I think he's lost his mind. And

that's fine. But it's I'm entitled to my

opinion. And I'm entitled to think that

we came a year too early to the game. Uh

I'm entitled to think uh what we had

five six besides Bitcoin. We had five

six assets that broke alltime highs.

That's it.

>> Yeah. But they just they just made new

all-time highs. They didn't actually go

on a bull run. Right.

>> Correct.

>> So nothing happened.

>> Well, it's been a Bitcoin only market

right. Right. Now um in terms of upside

um obviously many that were here in the

bare market and accumulating have done

quite well right but the expectation was

is that everything else would move to

the upside while Bitcoin moved to the

upside as well and that just hasn't been

the case and that's [clears throat]

that's really thrown people for a a loop

here. they and and it's been reflected

on the timeline this entire time on the

way up while Bitcoin has been doing its

thing and you know volatility to the

upside has been fairly muted even for

Bitcoin versus prior cycles we've had

very long accumulation periods for

Bitcoin

uh during the draw downs uh we get you

know short stints to the upside that

that kick off in pretty aggressive

fashion and then we're right back into

consolidation

again. And you know, realistically,

um, and I've said this and I've been

consistent about it, is since the bare

market lows, like you just need to get

as much as you possibly can. And and

because the institutions are coming for

your Bitcoin, right? If you're a Bitcoin

holder, there's there's a few ways to

shake out Bitcoin holders because

there's long-term holders, short-term

holders, and then you have the cohorts

of [clears throat]

institutions, right? Institutional

buyers. Now, we have a new set of

institutional buyers, digital asset

treasuries, DATs. We have the um we have

now the ETFs, right? The spot ETFs. And

then we have, of course, exchanges. And

realistically, where are the bigger

pools of liquidity and how do you get

them to sell, right? To the downside,

you can shake out short-term holders. Um

to the upside, you start shaking out

long-term holders who want to realize

profits. Um then it's about the

exchanges. The miners is a big cohort.

They hold 1.8 million um Bitcoin in the

in the uh Bitcoin wallet in the minor

wallets.

And you know over time that's going to

keep decreasing

um [clears throat]

as emissions rates slow down. But you

know it it's the game is the movement of

Bitcoin to a lot of these bigger

institutional players. And if you're

here and paying attention, you want to

be in on getting as much Bitcoin as you

possibly can because at some point it

will just go straight up in a very

aggressive fashion on longer term time

frames. Right now it's just a an

accumulation phase in a broader context

like on a quarterly time frame and it

has been since last market cycle.

All you got to do is look at Bitcoin

versus gold, Bitcoin versus equities and

it's in a big old accumulation phase.

So, I say that if you think that um if

you think that we're going to keep

moving forward and that Bitcoin is

desirable by these bigger players, you

better get in now and you better cherish

the downside moves and have a plan to

accumulate them.

>> I I I would say that if you're not

accumulating Bitcoin, I think you don't

understand I really don't you don't

understand this market. That that that's

really it. But I'm not saying that you

can't participate in other stuff either.

Like that's not saying that you can't

pick up like Ethereum or XRP or um

>> I love picking up other coins to sell

for more Bitcoin.

>> That that's the whole thing. There are a

lot of people that understand. Okay, I

can get into Salana. Salana goes up.

Let's say like Salana I think is at 125.

If Salana goes back to its previous,

well, I can go ahead and double my money

and I can get myself more Bitcoin. I

mean that that's how a lot of people

think. That's how a lot of people trade.

Like they'll they'll go into the altcoin

market and say, "I can make, you know, I

can double my money here, triple my

money here, and then I'll go acquire

more Bitcoin." Same thing with the meme

economy. I mean, people are going into

memes and smart people are, you know,

doubling or god knows 10xing their money

and then, you know, they're they're

getting themselves Bitcoin.

>> Yeah. And that smart money knows how to

play this game, man.

>> On that point real quick,

>> smart money knows how to play. You and I

have talked about this quite a bit, but

because a lot of the money that is flown

in and when and I say flow in terms of

flows are coming from institutions into

Bitcoin, when profits are taken, it

we're not seeing a rotation into

altcoins where in prior cycles it was a

lot of profits taken through the

exchanges and then rotated into altcoins

and we'd get massive, you know, a

massive alt season. And in this case,

it's just been little mini alt seasons

because a lot of the a lot of the money

is is outside of the exchange system and

in these larger asset under management

plays. Um, and DATs are just an

accumulation, right? That's what they're

doing. I mean, we've seen a like a

couple that have distributed, but

they're just accumulating. And really,

it's about the trade

on the traditional market side for the

spot ETFs. And when those profits are

taken, they're rolled into traditional

market assets where in prior cycles,

we've seen a lot of those profits rotate

from Bitcoin

on those exchanges to, you know,

Ethereum and so on and so forth, right?

Causing, you know, a nice alt season.

And I think that Ethereum has to go on a

bull run above its all-time high and

actually take a leg up for a true alt

season to kick off. And I do think that

that will happen, but it's going to be

rotational from here on out. And that's

just a function of larger players being

in the game.

>> Appreciate you, Landy, as always. Um,

what do you think uh what do you think

Bitcoin is going to do by by the end of

this month? by the end of this month.

You know, if Bitcoin holds the low here,

I think that Bitcoin has a a good shot

of testing upside towards

it initial levels above this little

range that we have here. It'd be, you

know, 94 to 96, kind of $2,000 at a

time, 96 to 98, and then testing, you

know, 98 to like 101, possibly more. Um,

and that's if we see closes, you know,

continue to even if we see downside

price action, as long as we close above

that big uh low side around $80,000, I

think that um upside is the most likely

outcome in the near term uh coming into

the end of the month and early portion

of of uh January and then kind of go

from there.

Let's hope that Santa's rally is real.

Okay. Let's hope that Santa's rally

along with Landy don't ruin your

Christmas spirit.

>> Okay. [laughter]

Happy holidays to everybody. Happy

holidays to you, Landy. Okay.

>> Appreciate it.

>> I can't even believe I'm saying that to

you, but happy holidays, bro.

>> Well, much love, brother. I look forward

to uh to watching the interview with

Sailor here shortly.

>> Yeah. Me and Sailor just going to play

chess or something. I don't know.

>> [laughter]

>> Well, thanks for having me on, David.

>> Me and S me and S are going to play

Fortnite. So, anybody wants to join in

what what's that? What is it called? Uh

the world what's it called?

>> Battle Royale.

>> If anybody wants to join the battle

royale, [laughter]

let me know. All right. Appreciate you,

Landy. Really do.

>> Thanks, David. Take care.

>> That was Landy, folks. He's a good guy.

I'm just [ __ ] around with Landy. Me

and Landy, that's a bro right there.

[cheering]

I know Landy doesn't agree with half the

[ __ ] that comes out of my mouth, but I

don't agree with them either.

Guys, you can call in. You got five more

minutes left to call in. You guys can

call in at 347-6302399.

If you have a question you want me to

ask, I will I will ask one question from

the audience.