send him email. it s easy. we need your help. thank you worth doing.. thanks. so much. t sohr people are suffering through profound inflation right now. we have profound inflation iight because the government has mismanaged the u.s. dollar so many are seeking refuge in bitcoin whose amount is limited by design can t be inflated. but nf the bitcoin markets haveee been volatile. they ve been dropping just like a lot of the rest of the market. the price of bitcoin hasy plummeted by roughly 40% over the past two months. so how should you react to that if you are in bitcoin or interested in it? well, one of the biggest investorsig of bitcoin is called mike lindell. we talked to him beforeed he s co-founded and now still runs microstrategy. mike lindell joins us tonight with an update on how he s feeling about bitcoin markets. michael, thanks so much for coming muc on . so you re the voice that people who are interested in this topic listen to. i think most carefully. how are you feeling abo
so we took a chance with my w partners robert and david. we moved in quickly q and twenty twenty and we knew that, you know, new york is resilient. it s going to come back . so we signed a twenty five thousand cpac loan back then and we are the only mom and pop shop in times square. u so absolutely what you said is 100% correct. i don tt want to eat the google burger. we are we are rooting for youu stratosphere foget. thank you so much. thank you so much s for having me. so the main reason that your gas prices are so high is because not enough gasoline is being refinedin because not enough oil is being extracted from the ground. and so in the face of acid by administrations decide to kill domestic energy production prices that hit record highs this summer. fuel rationing couldpr be nexto but the crypto market has plummeted in recent weeks. b one of the biggest investors in bitcoin joins us to explain why he s not that bothered by it. nwe ll be right back .
peoplele need a safe place tola stand apart from the intervention of apa governmt and agency or corporation. so bitcoin represents a fair, open and equitable network with a very simple promise toan anyone that wants to join, which is what you own is yours and no one s s going to take it away from you. d do you think that one of the ideas by bitcoin was that it wouldn t be directly correlated to the equities marketwo cs ma? the s&p dropped bitcoin, e wouldn t we? are we goingnd to see? well, you know, in these markets right now, there s no way there s no simple place to hide. all the indexes are a bear market territory bonds don t represent a safe refuge becausef their currency derivativeseve stocks have to grow their cash flows faster than the inflation rate. but if you zoom out two years since the beginning of the covid crisis, you notice the u.s. money supply has expanded. 36% m, gold is up seven percent. the s&p index is up 29%. only
the nasdaq s only up nineteen percent. bitcoin is up two hundred 29%. so if you can stomach t the volatility you take the long view you ve got to a safe haven there. so i mean i guess the simplest measure of how youoi feel is d what you re doing. what are you doing with bitcoin right now? are you buying or selling ? whenever i have some spare cash, we buy o more bitcoin. yeah, we re taking a very, very long view toward this . the networks only getting better adoption s and provingla very constructive regulation is coming out of dc and the lightning network is moving n us closer to satoshiet promise a letting everybody in the world trade with each other atch the speed of light and a fair and equitable fashion. so you re buying? yeah, i ll be buying at t the top forever, right to match mostly bitcoins in an instrument of economic empowerment. i m not trying to time in thee e right. to know i just want to see that iop