The Future of Bitcoin & Crypto: Controlled, Clarified, or Confused?
May 20, 2024
Host: Hon. Sam Rohrer
Guest: Matt Szina
Note: This transcript is taken from a Stand in the Gap Today program originally aired on 5/20/24. To listen to the podcast, click HERE.
Disclaimer: While reasonable efforts have been made to provide an accurate transcription, the following is a representation of a mechanical transcription and as such, may not be a word for word transcript. Please listen to the audio version for any questions concerning this dialogue.
Sam Rohrer: Hello and welcome to this Monday edition of Stand In the Gap Today regardless of your station in life. And we’re all different whether you’re retired perhaps, or contemplating soon, retirement maybe, or anticipating many years of saving and investing and working, whether you have little savings or abundant assets broadly invested. There’s one thing for sure the world’s financial system that makes all of that possible. Links together. The economies of the world is in the process of global reordering with Saudi Arabia over a year ago now, accepting payment for oil in currencies other than the US dollar. We’ve talked about a lot on different programs. And then there’s that happening. Now there are 10 nations, part of the bricks, alignment of nations, nearly 30 nations having made applications to join that group. Those factors and the fact that the US debt sits just under $35 trillion and growing at a trillion dollars every 100 days.
Sam Rohrer: Global finance is about to be reset, not possible to continue on the same track that we are on the US’ Reserve currency status, which has been a blessing to America, is about vaporized because of the things I just said. And with it, the US’ ability to dominate global economics and to leverage in many cases, blackmail other nations to do its bidding, is coming to a quick halt. That’s what’s driving a lot of what we see happening right now and into this scenario. The nations of the world are engaged in many levels of soft warfare. I’m going to call it that with actual flying bullets and missiles increasing as we see and into this scenario of finance, historically backed by gold and silver and then it moved to oil and the US dollar, the currency of the world, it’s now literally pegged to nothing except threat and the digital printing press.
Sam Rohrer: And it’s entered a new era of digital technology driven by computers, the internet and numbers on a page somewhere invisible and subject to well, the whims of electricity, satellites and undersea communications cable, not tangible cash or even physical stores of value like gold and silver. Things have changing and it’s the historical nature of our technology driven days that has brought us actually to the advent of new words like cryptocurrencies, blockchain technology and such cryptocurrencies as Bitcoin. Now, for most people, this area is at best confusing. For some it’s been financially rewarding. For others it’s been an investment horror. But for all listening to me right now, our financial lives are changing and the way governments and banking and buying and selling is being transacted, that’s changing. And to the extent possible today, we need to be aware that change is underway. So the title I’ve chosen to frame today’s program is this, the Future of Bitcoin and Crypto Controlled, clarified or confused today, I’ve asked Matt Schein, who’s been with me previously on this program to join me again on earlier programs.
Sam Rohrer: The last one was February 27th of last year. Matt and I defined and he actually defined and explained what cryptocurrency is and compared and contrasted it to digital currency, provided a brief history of crypto and currencies like Bitcoin. And I want to say for transparency purposes, Matt is not a licensed financial advisor. So the comments we give on today’s program are not intended to in any way be constituted as financial counsel, but strictly as information and education. And that being said, I have found Matt to be one of the most practically informed individuals, self-trained and without professional bias. His background is actually mechanical engineering with laser scanning for application and reverse engineering where he teaches this advanced technology to both corporate and military and juices. And with that background, let me invite into the program again now, Matt Sche. Matt, thanks for being with me.
Matt Szina: Thank you, Sam. It’s great to be back.
Sam Rohrer: It’s good to have you back. And Matt, my introduction was up a little bit longer, so I’m only going to get probably one question of the two I wanted to, but let’s go at it here, get everybody on board. I’d like to define things and that area. So take this area of crypto and Bitcoin in particular. Could you define cryptocurrency? When did it begin as a technology and why? So when and define it.
Matt Szina: Okay, well, let me give you a good simple definition of cryptocurrency here. And that is cryptocurrency is digital money that doesn’t require a bank or a financial institution to verify transactions and can be used for purchases or as an investment. And then those transactions are then verified and recorded on the blockchain, which is an unchangeable ledger that tracks and records the assets and the trades now was created. Now Bitcoin was created as a response to the crash of 2008, but the roots of digital cash, so to speak, go all the way back to 1983 when they started to work on the code for it. And you might be interested to know that the government didn’t like it back then either, and they actually had to transfer a code amongst themselves printed on t-shirts and on tattoos. That’s how secretive that it was. Now again, Bitcoin was created as a response to the 2008 crash and it was given as a way to get out of the traditional finance system. If that is a concise answer, enough for you.
Sam Rohrer: Okay. No, no, no. That is quite concise and I think that’s helpful. Ladies and gentlemen, you’re listening to me. You were probably impacted by the crash of 2008. Most of the market conditions right now will refer back to that. So that was a big deal. So you’re saying that was a genesis of it, and Matt, only just a little bit of time left here and this part of it. So in reality as a technology, you’d referred to blockchain and some other things. All of this sits inside the concept of computers and internet, correct? If you didn’t have a computer or the internet, would you have a cryptocurrency?
Matt Szina: Well, they are coming up with new ways to transfer cryptos by radio waves and things like that. But essentially that’s correct. If all the computers in the world went down, it would be hard to have cryptocurrency as a means of exchange.
Sam Rohrer: Alright, that’s fine. Ladies and gentlemen, we’ll just keep it right there. When I come back, I’m going to ask Matt, we’re going to move now from that general perspective, cryptocurrency primarily not exclusively, you’ve heard Matt say exists primarily within technology that arrives out of computers and algorithms and the internet and all of it requires electricity. If you didn’t have that, you wouldn’t have all this, but you’d say, well then it can’t be valuable. Well, no, it is actually very valuable even though you can’t see it. We come back, we’re going to begin to focus on, well, this lead, put this way, currency called Bitcoin that you probably have heard about. We’ll talk more about it as we walk through the program. If you’re just joining us, just happen to tune into the program today. Our theme is this, the future of Bitcoin and crypto controlled, clarify or confused if you’re listening to me and say, yeah, I have no idea, I have no interest in crypto.
Sam Rohrer: Well stay tuned because in reality it’s good to know at least a bit of the framework of what is going on with this thing called crypto and Bitcoin and digitized currency and those things that go together in our age of technology. Because at this point you may have escaped, perhaps if you want to view it that way or think you don’t need to know, but because it is all around us and the importance of it, spending time today with special guest Matt China and trying to take this very complex area and make it as simple as possible just so that you are able to at least understand. And if you want to go deeper into it, then you can go far deeper. And many of you listening right now, no doubt, have you no doubt, own some type of currency of crypto nature. But nonetheless, just want to say that upfront.
Sam Rohrer: Now, according to Investopedia, that’s just one source of information you can get. They say this, when Bitcoin was introduced to the world in 2009, it was intended to revolutionize the way people could access and control their money. But that revolution has hardly come to pass. Now, that’s their opinion. I’m just reading from what they’re saying. The cryptocurrencies tumultuous first decade was marked by scandals, missteps, and wild price swings. Its second decade has been no different large scale fraud, theft, regulatory battles and more continue to make the headlines. It’s difficult to say what will happen over the next decade, but there are some thoughts about Bitcoin’s future. Now, from the perspective then of this particular source, they then gave four different takeaways in their opinion of what was going to likely take place in the years ahead. And I just cite their fourth one. They say this, there is no way to accurately predict what will happen to Bitcoin in the next 10 years.
Sam Rohrer: Alright, Matt, let’s go here and do this. First I’m going to throw into it that last question I was going to give to it and that was this, the origination of Bitcoin. When did that happen? And in my opinion, and you can tell me whether or not you view it this way, but to me Bitcoin has also become a bit more like Kleenex when that became the generic word to describe all facial tissues. People just say Kleenex to describe anything that they blow their nose or put on their face. But Bitcoin has seemingly become the generic word to describe cryptocurrencies. Is that an accurate description? And how did Bitcoin itself come into being and when?
Matt Szina: Well, Bitcoin came into being back in 2009 where either an individual or a group named Satoshi Nakamoto created the first Bitcoin white paper. And since then, of course Bitcoin has increased in value in the millions of percent, right? Today Bitcoin’s price is 67,624 as we speak. And it started out as less than a penny. So as much as you can say there’s been some tumult in crypto’s existence, that’s what people that don’t like it like to focus on. But other people like me like to focus on the fact that it’s increased in the millions of percent since it’s beyond.
Sam Rohrer: Alright, that’s significant. All right, so now Investopedia, their opinion was no way to accurately predict what will happen in the next 10 years. Alright, do you agree with that? And here’s the question I want to pose then. What are the most significant facts that you can cite about Bitcoin specifically and referring to Bitcoin the largest, as you said, but it also is kind of what descriptive of this entire category called cryptocurrency. But what are some of the facts that you can cite that would indicate that there is strength going forward, not only for Bitcoin but for crypto generally?
Matt Szina: Well, of course there’s no way anybody can predict what’s going to happen in 10 years. If we could, we’d all be billionaires, right? But what’s interesting about Bitcoin is it’s followed very definite four year cycles, and every four years you have what’s called the Bitcoin having. And then within the next six to 12 months after that, having the price increases sort of exponentially. And that’s part of the strength is, is that when you have that Bitcoin, having the amount of Bitcoin being produced gets cut in half. And because of that it creates a supply shock. And now we’ve added to that the brand new spot Bitcoin ETFs that were approved in November of last year, where now these big companies like BlackRock and Fidelity and ARC invests are buying up thousands of Bitcoin per day. So that’s again going to help create the supply shock where as this kind of buying keeps going on, it won’t be long before you’ll have a hard time finding any Bitcoin to buy.
Sam Rohrer: Okay. Okay. Let me ask you a quick question here. For those who are listening, you used the word having, is that by comparison similar to a stock split?
Matt Szina: No, what it is, it was written into the code that every certain amount of blocks that get created on the blockchain, that the reward for creating those blocks would get cut in half. And by doing that, he sort of guaranteed that the value would keep going up because there’s going to be less of it around to buy. And if you think of it this way, Sam, there’s only ever going to be 21 million Bitcoin, and right now there’s more than 21 million millionaires in the world. So that means there’s not even enough to go around for every millionaire to have one. So you can imagine what eventually that’s going to do to the price once Bitcoin really becomes mainstream.
Sam Rohrer: Alright. And I think just because the way your reference is there, just explain just briefly again, alright, the creation of a cryptocurrency, we’re talking technology, we’ve talked about computers, we’ve talked about internet a little bit. It’s in that area. What is actually creating this thing called cryptocurrency and blockchain? I mean, what is actually creating this thing?
Matt Szina: Well, we could talk about several different methods, but we’ll focus on Bitcoin. Bitcoin is created by a process called proof of work. And what proof of work is, is you go out and you buy, and anybody can do this really, you can go out and buy a special asics computer, which is specifically designed to mine Bitcoin. And what you’re doing is you’re actually solving a very complex cryptographic equation. And when you solve that equation, you create a block and then when you create the block, then you get rewarded with a certain amount of Bitcoin. Now we have just passed the having that was in April of this year, which cut the block reward from 6.25 Bitcoin down to 3.125 Bitcoin. So there’s less and less of it out there to get. And over 19.6 Bitcoin have already been mined. So most of it’s already out there and the last one won’t be mined until the year like 2140 or something like that.
Sam Rohrer: And that mining is occurring within the computer, grinding out algorithms and solving mathematical equations. That’s where it’s coming from. And you’re saying it won’t be produced until down the road. That’s just simply because of the amount of time that it takes a computer to actually work through these formulas? I mean that’s what we’re talking about, right?
Matt Szina: Well, it’s that plus because the having is going to keep on happening every four years. In 30 years you’re only going to be getting per block, maybe a half a Bitcoin or a quarter of a Bitcoin. So that again, is going to force the price to go way up because people are going to be after it.
Sam Rohrer: Alright, let’s go on to the next question here then hopefully ladies and gentlemen, not just so far out of comprehension that you just turn all of that off, but that’s the point of technology. Technology whether is in this area of finance and creating crypto or technology and this whole thing we’re calling transhumanism and this whole thing, it’s all technology that’s driving it and it’s beyond the mindset of most people, but it’s driving this world. Alright, in regard to what we’re overall describing, crypto, blockchain and all of that as a part of modern technology, is there anything that you would see at all Matt at this point that will not permit this to continue to grow? In other words, technology is driving literally everything, including what we’re talking about in crypto. Is there anything that you see hanging out there that could stop this further development of technology?
Matt Szina: Well, I can’t speak for the rest of the world, but I can speak for the United States. Our government has kind of a two-sided coin. We have part of our government, the SEC and the senator like Elizabeth Warren who are just trying to destroy crypto. Now on the other hand you have Congress, which has just passed a couple of really good, actually one really good one, and they’re going to vote on another one this week about crypto regulation. So if we can get good crypto regulation, we’re in good shape. But if this fails and the FDC controls crypto like it wants to, we’re probably in trouble.
Sam Rohrer: Alright ladies and gentlemen, okay, you get the idea. Technology, people want to control technology. Whoever controls technology can control the world. That’s what the beast system we’ve talked about with buying and selling and tracking and surveillance. That’s what they want to do. Now in this area of finance, it’s slightly in that spot, but it’s also something that is controllable. And in the next site we’ll talk about some of those areas where government is actually trying to control. Alright, if you’re just joining us again, we’re talking about Bitcoin, cryptocurrency, and we’re going to move now into this idea of controlling it. And my special guest, Matt Chena, is with me today. And we’re talking just a little bit, trying to take this complex area, trying to make it as simple as possible because there is application to it and just it’s my sense that as listeners to this program, you are obviously wanting to know the truth.
Sam Rohrer: We try to take headline news, those things that impact us and bring to it a perspective that helps us to understand what it is. You might think that, well, you have no reason to know about crypto, who cares or Bitcoin, yeah, you see it in the news, but who cares? Well, it impacts us all. That’s the point. It’s impacting us and it’s going to impact us even more as the world’s financial system is entering into a reset or a transition. And so it’s in that context and the reason that we’re trying to present it today, but as we see it occurring real time, the world is moving. It is absolutely moving and moving fast to at least a digitized and electronic currency accompanied by surveillance and literally ultimate control of every purchase that a person would make monitored by artificial intelligence. We’ve talked about pieces of that and other programs.
Sam Rohrer: China has been modeling a system for many years where they’re actually doing this. And it may be the model for the world for standpoint of tracking and digital control, but Bitcoin as the best known of cryptocurrencies, which we’re discussing today, is to some degree, I’m going to put the canary in the coal mine. If Bitcoin can be strangled or controlled or made so confusing so as to make it unusable, well then that may well be the case for all cryptocurrencies controlled by government through the use of digital currencies already exist with credit card purchases for instance, and I dunno if it’s ever happened to you, it’s happened to me. You go to a gas pump, you go to use your credit card and it denies you for one reason or another or a grocery store or charitable giving as far as that goes. Giving to ministries, tithing to churches and so forth.
Sam Rohrer: Digital if you give online, alright, it’s able to be done woke, government dictates or right around the corner to say, well no, we won’t let you do what you’re doing. That’s digital currency, we’re already involved in that. But elitist and central bankers around the world, they’ve made very clear that they, and as Matt just shared in other segment, there are some in Congress and others who do not want crypto currency of any type to succeed. Others are saying no, it does make sense. So we’re in that window right now. So Matt, based on where we know the globalists, and I’m going to say central bankers are going by their own words, what do you think is the most likely to happen to crypto in this digital as it’s news I think is draped around the necks of people and nations? And you referred to some of that that was happening government wise, revisit what you just said and then take it from there to what you think may unfold here soon.
Matt Szina: Well, I mentioned the SEC and I mentioned Elizabeth Warren, I said they wanted to destroy crypto. Maybe a better phrasing of that would be they want to control it to the way they like it. What’s happening right now in the United States is the SEC is suing many of the crypto exchanges and accusing them of the sale of unregistered securities and things like that. But what’s interesting about this, at least for the United States is the crypto industry seems to be winning. Now, and this is actually good news, when the SEC sued Ripple and tried to declare their XRP token as a security, it cost ripple a hundred million dollars or more to fight the SEC. But they finally won and the SEC now is being called out by judges for not having faithful allegiance to the law. And in another case, the judge sanctioned the SEC for lying to the court and two of the SEC’s lawyers actually had to resign because of that.
Matt Szina: So we have on one side we have our government through organizations like the SEC is trying to slow crypto down, trying to control it. The plan seems to be to delegitimize the normal crypto exchanges like Coinbase and Kraken, things like that. And then force all your crypto purchases to go through the BlackRocks and the fidelities of this world. And one thing I don’t like about the SPOT and Bitcoin ETFs that were just created for the BlackRocks and the Del is that when you cash out of them, you don’t get the Bitcoin, you get fiat currency. So they can kind of manipulate that if they want to. The ETFs that were created in Asia recently, in the Hong Kong exchanges, they are called in kind where a few cash out you can actually get the Bitcoin. So that’s one way it seems like they’re trying to control it. So when you cash out, you’re not really getting the Bitcoin, you’re getting the fiat currency.
Sam Rohrer: Okay, Matt, that’s significant. So you’ve got banking, the central bankers of the World Bank of Europe, federal Reserve, the banking system, the BlackRock, which is a part of that whole banking system, finance system, the Wall Street, they’re operating under the SEC Securities and Exchange Commission. That’s control part that you’re talking about, but that’s not Congress. Now you go back to Congress right now, is there any law that permits crypto to exist or does it kind of sit out there free of any law?
Matt Szina: Well, that’s what I was just talking about earlier when I mentioned the Saab 1 21 bill that has passed almost miraculously boast the House and the Democrat controlled Senate. And it’s now waiting to see if Joe Biden will veto it or not. He said he will, but he hasn’t done it yet. If that passes, that eliminates a lot of the SEC’s authority to crack down on crypto and it will allow your local bank actually to sell you crypto and keep your crypto for you if that makes you feel more comfortable. Well there’s another law called the FIT 21 Law Law, which has to deal with stable coins which are tied to the cost of the US dollar. If that passes, that will also be good for the cryptocurrency industry. And a lot of companies are waiting for clarity and regulation before they actually jump into the space.
Sam Rohrer: Okay, let me ask you this question then you referred to if you referred to the West or not, but let’s look at it this way. Right now the world seems to be the east, which are primarily the brick nations. The West led by the United States in Europe. Is the east viewing involvement in crypto differently than what appears the West, the United States is doing?
Matt Szina: Well, most of the rest of the world is jumping into the pool. They’re really on board with it. And part of the problem is, and why Congress in the United States is creating these laws or at least trying to, is because of the harassment these startup companies are getting from the SEC, they’re leaving, they’re going to Dubai and other places around the world where they’re not treating them and harassing them.
Sam Rohrer: Interesting. So it leads me to think, no, and again, I’m not going to put words in your mouth, but if the West led by the United States, which right now is the world’s reserve currency, which is basically to a large extent controlling the world’s economies, we’d love to put sanctions on everybody and make everybody do our bidding. That’s what’s been happening for a long time. That if the opposition to crypto in Bitcoin is primarily, as you say, being led by the United States and the West is the reason to believe that that’s perhaps being done as a way of trying to preserve the status and the strength of the dollar denominated US currency.
Matt Szina: I would say probably that’s absolutely true.
Sam Rohrer: Alright. Which is interesting because if that’s the case and they have not been able to stop it legislatively, go back and revisit what BlackRock and Fidelity are saying. These entities are out there trying to buy up, how much have they bought up and could they buy up enough to control?
Matt Szina: Well, I was just looking at it last night. The SEC gave 11 different companies the right to create these Bitcoin ETFs, the spot ETFs, which means they have to buy the Bitcoin and they’re up right now about 900,000 bitcoin that they’ve accumulated since November. So to control Bitcoin just by having it all, that’s going to be really hard to do. There is one way they could actually take over relatively easy if it were possible. And that’s if you can gain over 50% of the mining power, then you have control of the network. But that’s going to be hard for them to do.
Sam Rohrer: Interesting. So at the very, very least, Matt, what you’re saying in what we’ve been talking about so far is that global finance clearly is in transition, crypto is in the middle of it. Countries of the east have generally embraced it, the west led by the United States and Europe has been primarily resisting it. Would that be a fair summation? Yeah, they’re making it hard. Okay. Alright ladies and gentlemen, I’m tell you, just to understand those things probably gets a pretty good handle on the overall area, but the next segment, Matt, are going to talk a little bit about now what does that really make a difference to us? Is it something now that being the case that you ought to say I should invest in? If I do, then what do I do and how do I just apply it just to the average person? Alright, as we enter into the final segment here, we’re going to try and just give some overall perspectives.
Sam Rohrer: I’m going to ask Matt here in just a minute to do that from his perspective. But I do also want to thank all of you for being with us today. For those of you who have written to us in the past, thank you, much, much appreciated. Always good to hear from people across the country with the reasons that you in many cases say never miss a program to reasons why you listen. All of that’s very, very helpful. And so thank you. And if you have never ever written before, please take just a moment this week and consider doing that. Most of the time when I listen to radio or other means, I don’t generally communicate in most cases I think, well they don’t really listen or read what I say if I send it in any way, but in our case we do. And so it is important and for this purpose as well, this is a ministry and it costs money to be on stations and satellite costs and all of that kind of thing.
Sam Rohrer: As we communicate on this program to well over 500 stations in the course of a day, there’s a cost to that. And if God’s blessing you through it, please consider prayerfully being a partner with us. That’s helpful. Your prayers probably more important, I’ll say probably is more important, but connect with it financial help as well and that makes it a really good combination. So I’ll just leave it there and hope to hear from you this week. Alright, Matt, let’s go back to this for a moment. For a long while, you say it goes back to 2009, Bitcoin was so it’s been around for a long time, but it seems that crypto Bitcoin specifically is the first of the cryptos operated under the radar, but over the last several years they’ve come charging out of the woodwork, become very public, and now all the things we’re talking about are well known, a matter of discussion and investments in Congress all over. But here’s a question I ask for you because it’s even now made it into the presidential election. So that to me puts it up on a level a platform that’s even more significant. So where do the candidates stand on crypto talking Trump Biden at this juncture or maybe Democrat, Republican. And if you can split it that way, where do they stand on crypto and Bitcoin and what does this portend for the average citizen
Matt Szina: Right now, we still have three candidates in the race, right? And Biden seems to be dead set against it. RFK is all for it. And I think he’s accepting Bitcoin for donations to his campaign. And Donald Trump has just recently kind of turned the corner and he used to think it was not such a good thing, but now he likes crypto and he has committed himself to stopping the harassment of the crypto industry. So we can keep that industry here. So we have two of the three candidates that are running that are all for Bitcoin and cryptocurrency.
Sam Rohrer: Well that’s significant because up to this point it hasn’t been so much political as it has been, perhaps like we said, east versus west perhaps. But now with Kennedy and Trump promoting it, it’s going to take on probably more of a public issue, not less would be my statement, right?
Matt Szina: I would think so, yeah.
Sam Rohrer: Yeah. Okay. Alright. Now let’s go beyond that. And this is an open-ended question, go where you want to on it, but as an individual, you’ve been in this, I wouldn’t say dabbling, but you’ve been doing lots of study, you’ve been involved in this just as an individual. You became aware years ago, you’ve been checking things out and that’s why I said at the beginning, you’re probably one of the most informed individual that I know and you’re not biased, which is a great thing. But why does the informed citizen, and I’m going to say Christian in particular, most of our listeners are that are believers. Why do they need at least to be aware of this change in money and it involves buying and selling. That’s number one. And then secondly, should people who are listening, should they be thinking, investing in crypto versus some other form of investment or store value, right? You’re not giving advice, but what’s your own personal counsel?
Matt Szina: Well, since the first time I talked to you about it, I’ve always believed that crypto is at least going to be a temporary financial life raft when the financial system, if it does finally go down. So my opinion is that you should do your own research and look into crypto and see if that is something you’d want to get involved in, but don’t ever use money that you can’t afford to lose. But part of the problem is, is that all fiat currencies eventually go to zero. And it’s just been shown to me just recently that US dollar has gone down 99.9% compared to Bitcoin since its inception. So you see one side, the old system is going down, the new system is going up. So I think it behooves everybody to at least look at it and see if it’s something that you think you should invest in.
Sam Rohrer: Alright, that is a very significant thing, what you just said, ladies and gentlemen. Did you hear that? You wonder why things are more expensive in the store and all the discussion is inflation? Well it is, on the other hand, it’s because the printing presses have been opened. Our debt is increasing going through the roof and the more you print the less valuable each of those dollars are. So what we’re all sensing is you said 99.9%, the dollar has gone down 99.9% since 2007 or nine. What’d you say?
Matt Szina: As compared to Bitcoin from when Bitcoin was established in 2009. I’m not talking about in general over the world, but compared to Bitcoin, US dollar has lost 99.9% of its value because you think when Bitcoin, Bitcoin was first instituted it was less than a penny. Now it’s $67,000.
Sam Rohrer: Alright ladies and gentlemen, should you get the idea on that? So it is real, Matt, only just a little time left here. Again, for the average person, again, it’s hard to quantify, but majority, I am sure of those listening don’t have any crypto, our financial advisors actually able to do something in this area or is that for most not in their purview right now either.
Matt Szina: Well, now that the Bitcoin ETFs have been created, they’re going to start pushing that product out to all the financial advisors. So if your financial advisor doesn’t know about it or understand it, maybe you should get or at least try another financial advisor. But they should be because you’re going to start to see other products from crypto come out now you’re going to be able to buy probably a basket of currencies on one A TF, like a mutual fund kind of thing.
Sam Rohrer: Okay. And is that a bad thing to do? It is not a bad thing to check into, you’re saying?
Matt Szina: Well, of course I don’t think it’s a bad thing, but like I said, everybody has their own opinion about it, but to me it’s a great thing.
Sam Rohrer: Alright, and Matt, thank you so very, very much. That’s a lot of information. Thanks for bringing that to the fore. And ladies and gentlemen, I hope that this rather complex subject was simple enough to give you some direction and understanding of really what it is, how things are unfolding, and certainly it is unfolding impacting global finance. So if you want to do something, talk to your own financial advisor and he’ll be able to give some help. I am sure to you in this area. With that, thank you so much for being with us today and the Lord willing, we’ll see you back here tomorrow.
Recent Comments