0:00

Just investing in Bitcoin

0:02

can be a lot for someone to

0:04

just start to comprehend. Now let alone

0:06

all the things that come with having

0:08

six seven figure wealth in crypto. You

0:11

need someone who understands this and who's

0:13

a fiduciary. And yes, now there are

0:15

a lot of traditional registered investment advisors

0:17

that are open to advising on crypto,

0:19

mostly for the Bitcoin ETFs. Just a

0:22

lot of them, they're way behind. It

0:24

hasn't even been a year yet since

0:26

the Bitcoin ETFs have been approved. And

0:28

it's a security, right, when they're using

0:31

the ETFs. It's not the underlying pure

0:33

asset, which is what we deal in.

0:35

And our clients have pure Bitcoin and

0:37

other pure digital assets. You're

0:40

listening to Because of Bitcoin, a

0:42

podcast that shares the personal stories

0:44

of how Bitcoin is having a

0:46

real impact in people's lives, including

0:49

mine. I'm your host, Mauricio Diorto

0:51

Lomeo, the co-founder and CSO of

0:53

Letting. And without further ado, let's

0:55

get started with today's story. The

1:06

Bitcoin White Paper was announced shortly

1:08

after the global financial crisis of

1:10

2007 and 2008, and it was

1:12

championed by people who believed in

1:14

free speech, property rights, privacy, and

1:16

transparency. Bitcoin was designed to be

1:18

all of the things that Wall Street and

1:21

government currencies were not. Transparent, open,

1:23

uncensorable, and unstoppable. Since

1:25

Bitcoin's inception, people have been trying

1:27

to build out Bitcoin financial services

1:29

and looking for ways to offer

1:32

traditional financial products like dollar loans

1:34

to Bitcoiners. Our company, Latin, is

1:36

a good example of this. We

1:38

bridge the gap between traditional finance

1:40

and the Bitcoin ecosystem by delivering

1:42

traditional financial services, like loans and

1:44

capital, to the hands of Bitcoiners

1:46

who need them. There's also people that

1:48

started the path from the traditional finance

1:50

side of the house and have been

1:53

pioneering traditional finance offerings that use Bitcoin

1:55

and digital assets to bring the digital

1:57

economy closer to traditional finance investors. the

2:00

recent Bitcoin ETFs are a good

2:02

example of this. What started out

2:04

as two separate and far-away worlds

2:06

are now colliding, and we are

2:08

witnessing a Cambrian explosion of new

2:10

products in demand that are benefiting

2:12

both the Bitcoin ecosystem and traditional

2:14

offerings. A great example of this

2:16

phenomenon is the heavily regulated and

2:19

established registered investment advisor industry. And

2:21

today, I'm fortunate to be sitting

2:23

down with Brian Corshane, founder and

2:25

CEO of Digital Asset Investment Management.

2:27

who created the first ever RIA

2:29

focused and licensed to operate with

2:31

digital assets back in 2018. We

2:33

discuss how the two worlds are

2:35

colliding and how they have helped

2:37

traditional finance investors navigate the digital

2:40

asset ecosystem. Without further ado, here's

2:42

my conversation with Brian Koshain. Brian,

2:44

how are you my friend? Welcome

2:46

to the show. Doing great, right?

2:48

With Bitcoin, just continuing to hit

2:50

all-time highs. It's a great time

2:52

to be in the space. When

2:54

does the celebration end? Nobody knows.

2:56

I just made a video for

2:58

us talking about can Bitcoin continue

3:01

to make these all-time highs? And

3:03

if you really want to step

3:05

back, I know everybody has their

3:07

own different analysis, but on a

3:09

simplistic form, the bull markets are

3:11

two and a half times longer than the

3:13

bare markets. And so we've got some more

3:15

room to run here. Insights already. We haven't

3:17

even started. That's a bang for your buck.

3:19

Of the matrix meme that the little boy

3:21

is asking, where is the top? And then

3:24

you'll soon find out the answers. Like what

3:26

is the answers? Like there is no top?

3:28

I can't think of a better time to

3:30

have this this chat. So you and I

3:32

know each other from few years back, but

3:34

as this show typically goes, I like other

3:36

people to find out about your story and

3:38

your background. So the way I typically start

3:40

is by asking you what it was like

3:42

growing up. in your household was money or

3:45

finance a big topic at the dinner table?

3:47

So my father was one of 14 kids

3:49

from Canada and when he was 18 they

3:51

lived on a farm up there was a

3:53

dairy farm he moved down to Florida to

3:55

become a carpenter that's where money was made

3:57

there was no more room in the house.

3:59

in Canada and so as I grew up

4:01

my father actually evolved into being in

4:03

the concrete business in South Florida and

4:05

my mom helped him out in the

4:08

office and worked alongside of him so

4:10

I got to see entrepreneurship on the

4:12

ground level someone started business and go

4:14

through the trials and tribulations of growing

4:16

a business and that's been inside of

4:18

me and I actually started off at

4:20

a young age in construction obviously because

4:23

that's what the family was doing. And

4:25

then, you know, I'll kind of gap

4:27

a little bit forward here. You might

4:29

remember the great housing crisis, and so

4:31

we were in the family business doing

4:33

construction, and it just became a really

4:35

dark time where nobody was transacting real

4:37

estate, nothing was being built, really hit

4:39

bottom around 2007 and 2008, and that's

4:41

when I transitioned into finance with the support

4:43

of my family, to go to New York and

4:45

get into Tradfai, you might say. Well, I want

4:47

to get into your experience in New York and

4:50

Wall Street, because a lot of what you do

4:52

what you do what you do what you do

4:54

today. But before we get there, another question is,

4:56

were there any core memories in your

4:59

childhood and your upbringing that were

5:01

related to money or property rights

5:03

that you still carry today? Yeah,

5:05

kind of an interesting thing is,

5:07

I have an uncle, my dad's

5:09

brother obviously, that was just a

5:11

massive Donald Trump fan back in

5:13

the 80s, right? And so he had

5:15

his books and he would talk about him

5:18

and ended up giving me one of the

5:20

books and I read it at a young age

5:22

and I took some. positive things away from

5:24

that and it built that inside of me to

5:26

just don't take no, go after things, dream big.

5:28

And I think that's helped me and my

5:31

uncle's, I can't wait to share this with him

5:33

actually and give him some credit for that.

5:35

That's brilliant. And I find this recurring

5:37

in a lot of the conversations that

5:39

I have, which is many people end up

5:41

meaming what they see with their parents and

5:43

their family. And so I say this almost

5:45

every other time that I'm having this discussion, if

5:48

you have kids. Act accordingly. They're

5:50

all watching. We all watched. And all this

5:52

stuff comes out later in life. So you're

5:54

doing a great job by setting the right

5:57

example to your kids. Don't ever think they're

5:59

not watching. So you had this

6:01

initial journey into professional world in

6:03

construction in Florida, then you

6:05

made the leap to Wall Street.

6:08

How long did you spend on Wall Street?

6:10

What were your biggest lessons from that time? My

6:13

really only experience in finance and trading was

6:15

investing in my IRA portfolio when I was

6:17

in construction. It was a very small amount

6:19

of money, but I loved it. Watch a

6:21

little Jim Kramer when you get home from

6:23

work, do your own little stock picking. And

6:25

obviously when times were good in construction before

6:27

that housing crisis, the market was also going

6:29

up and everyone felt like a winner. That

6:32

transition was a bit tough. I ended

6:34

up going to New York City. This

6:36

was October of 2009, just figuring I'm

6:38

going to network my butt off and

6:40

try to meet some people. And then

6:42

I did meet some people, but it wasn't that easy

6:44

to break through. I was basically like studying finance during

6:46

the day and networking at night. But I

6:48

ended up meeting a great guy that had a

6:50

seat on the floor of the New York Stock

6:52

Exchange on the options pit and he gave me a

6:55

shot writing paper tickets in the corner. And

6:57

from there on, it was like just ground

6:59

level digging ditches boot camp to get in

7:01

the industry. And it was really, really great. And

7:04

so I was on the floor of the stock exchange there. I

7:06

was an options trader in the pit. It was like 13 months

7:08

that I was down there. It's funny. I was

7:10

watching some of your content in one of your

7:12

presentations. You did a selfie where you were wearing

7:14

the actual vest or jacket you had to wear

7:16

when you were on the pit. And I remember

7:18

those things. Finally, I worked at a small hedge

7:20

fund for a few months. I think this was

7:22

back in 2012. And I remember watching Jim Gramer

7:24

and watching the people at the pits. I think

7:26

there's still some pits around. I think maybe the

7:28

S &P Minis is like the last one left,

7:30

the physical pits. But part of me

7:32

always wishes that I could go back to

7:34

that point in time and look at the havoc

7:36

and the craziness of deals getting done by

7:39

hand signs and a different world out there. Yeah.

7:41

I'm to age myself right now, but it was

7:43

like the tablets were just coming out when I

7:45

was there. But yeah, it was still

7:47

hand signals yelling somewhat of some

7:49

crowds at times. But yeah, it was

7:51

that kind of novelty of walking in

7:53

the stock exchange, suit and tie, putting

7:56

on the trader jacket, having the badge

7:58

code, the headset. you know, the

8:00

buy cell pads in the front and just going out

8:02

there and doing stuff and coming back to

8:05

the booth and hedging stock or whatever needed

8:07

to be done after the trade was complete

8:09

reporting back to the end client. It was

8:11

a great experience. I can't think of a

8:13

more... Wall Street Tradfai experience than what

8:15

you're just describing. Even when I

8:17

was in university, that was a

8:19

dream of many finance students is

8:21

to be on the pit and

8:23

you must have felt like a

8:26

rock star back then. But you

8:28

did something even better, which is

8:30

you unplugged yourself from the Tradfai

8:32

matrix and you got yourself into

8:34

digital assets. I'm curious when and

8:37

how does Bitcoin or crypto enter

8:39

into your radar. So 2013, I now

8:41

had... money, I was making money and

8:43

I was saving it, I was looking

8:45

to diversify between real estate and stocks,

8:47

something with like a fixed supply. I

8:49

just didn't like gold, didn't like the

8:51

returning stuff, and I came across Bitcoin

8:53

on my own accord just researching it.

8:55

When the Silk Road auction, the Silk

8:58

Road just researching it, when the Silk

9:00

Road auction happened and Barry Silk Road

9:02

auction happened and Barry Silbert and Tim

9:04

Draper were bidding for those, I was

9:06

like, because at that time, a lot

9:08

of people, you know, it's going to

9:10

be that they ran that auction. what

9:13

my first few units of Bitcoin? Well,

9:15

I wasn't bidding with them. I mean,

9:17

those guys were 100,000 units, but that

9:19

was the moment. It was right there

9:21

within a couple days of that.

9:23

Those were really early days. That's

9:26

some foresight from you to jump

9:28

in it. And I think that's

9:30

some foresight from you to jump

9:32

in it. And I think that's

9:34

a pretty smart deduction that

9:36

you did leap to the conclusion.

9:39

There's no real. specific trigger

9:41

or threshold that gave you that certainty. But

9:43

these types of events, I think that's really

9:45

alpha, right? You were close to the auction

9:48

and you were close to regulators. You know

9:50

that if they were vetting, this is because

9:52

they had reviewed this and they wouldn't be

9:54

deemed a legal sale. So super interesting for

9:56

you to take that signal and run towards

9:58

it. So you find Bitcoin. you get your

10:00

first units, eventually you ended up starting a

10:02

business around Bitcoin and digital assets. How did

10:05

you get from I'm bidding for this, I

10:07

got it to, I'm gonna bet the house

10:09

on this and build a business. So it

10:11

was a few years later, but over that

10:13

time from when I first started buying

10:15

Bitcoin and over those years, I continued

10:17

to work at different broker dealers on

10:19

trading desk. Many times I was the

10:21

only guy with the position. People knew

10:24

it because I would talk about Bitcoin,

10:26

I loved it back then. sophisticated high-net

10:28

worth individuals asking me about it saying

10:30

hey look like I want to be

10:32

involved I don't understand it I want

10:34

to put more to work than just a few

10:36

thousand dollars on my phone I'm looking for someone

10:38

to trust there's no accountability everything is

10:40

self-directed you can't pick a phone you

10:42

know I started hearing these things and I

10:45

said okay this makes sense and this was early on

10:47

in 2017 right before the first run up to 19

10:49

later in the year I said, okay, look, I

10:51

want to get back to business ownership, I

10:53

want to build something from scratch, and I'm

10:55

either going to do a broker-dealer, I'm going

10:58

to do a registered investment, I'm going to

11:00

offer people help getting in this space

11:02

from a human standpoint, because they

11:04

want to be guided, they want advice, what

11:06

to buy, how much to buy, portfolio sizing,

11:08

that just wasn't out there. And

11:10

so in 2017, I started that

11:12

journey, the roadmap, assembling the legal

11:14

teams and doing the business plan.

11:16

and then the market just started

11:18

going crazy. And so the business

11:20

wasn't operational then. We were still

11:23

building the framework, submitting the filing

11:25

to regulators, trying to get this

11:27

approved. And meanwhile, the price was just

11:29

moving straight up, and then we had

11:31

the transition into 2018. So if

11:33

you recall, the price of Bitcoin had

11:35

now already come back down, January 1st,

11:37

2018, from the high, back down to

11:39

13-5. I mean, it happened like this,

11:41

that sell-off. And meanwhile, we had

11:43

just started the filing now. Bitcoin continued

11:46

to sell off very hard in 2018

11:48

until about May when the regulators came

11:50

back to me and said, look, we're

11:52

going to put your registration on hold.

11:54

We don't want to license the first

11:57

of its kind investment advisor specifically for

11:59

digital assets. said, why? And they're like, well,

12:01

there's just too many complaints and people were really

12:03

having trouble with the ICO craze back then. They're

12:05

investing a lot of fraudulent stuff. I

12:07

don't take defeat lightly. I talked to a guy to

12:09

see if he could do some lobbying for me to

12:11

get stuff done. He couldn't get anything done. And

12:14

then I just basically called regulars. I said, listen, we

12:16

need to have a meeting. This business needs to

12:18

be approved and put forward because it's gonna help people.

12:20

And I made the case and I said, look, I'd

12:23

been in the space, 2014. I had the

12:25

series 24, which is compliance officer. I had

12:27

the series four, which was an options principle. I

12:30

had the 65 already from doing the

12:32

training to be an investment advisor. And

12:34

I said, I'm the best shot at something you got

12:36

to be a fiduciary in the space to help

12:38

people. They need help. And so the

12:40

next day on May 31st, we got

12:42

the registration that was 2018 to

12:45

become a registered investment advisor, specifically for

12:47

digital assets. And that is

12:49

a huge milestone. Keep in

12:51

mind, this is 2018 SCC.

12:53

This is already not the

12:55

friendliest SCC, I would say.

12:57

Bitcoin had a big black eye then.

12:59

Yeah, we were coming on the back of

13:01

the ICO craze and on the back

13:04

of a blow off top for Bitcoin and

13:06

ETH and all these other things. And

13:08

so the fact that you did not take no for

13:10

an answer. I mean, I think

13:12

people sometimes say this in the context of

13:14

business, but you took the stand in front

13:16

of a regulator and you

13:18

went out and basically tried to educate them,

13:20

which from experience, a lot of us

13:22

have done this over the years and

13:24

it's not an easy task. And a lot

13:26

of people, I don't think appreciate how

13:29

much of your life sometimes hangs

13:31

on the line of a

13:33

yes or a no, because you

13:35

have built all this infrastructure and all you

13:38

needed was the rubber stamp. And if you

13:40

didn't get the rubber stamp, all the infrastructure

13:42

was just not able to be put to

13:44

work. So good on you for persevering and

13:46

I'm very happy that they finally did this. It's

13:48

like your story. I've heard that you've said it

13:50

a lot on the podcast, but it's inspiration to

13:52

keep us motivated to continue to push, because there's

13:54

a lot more things that the industry needs

13:56

that we got to create and provide

13:59

to our clients. 100%. there's a lot

14:01

more walls yet to be torn down and

14:03

a lot more minds to be changed. So

14:05

I'm very happy to hear your story and

14:07

to be working with you today. So if

14:09

it wasn't immediately clear, Dame is the first

14:11

registered investment advisor that was

14:14

licensed specifically with the goal

14:16

of focusing on digital assets.

14:18

And again, today it sounds, oh yeah,

14:20

who wouldn't want to advise on the digital

14:22

assets, but you did this in 2018. And

14:24

my follow-on question is Can you

14:27

walk us through the sort of expertise and services

14:29

that Dame focuses on? What are the main differences

14:31

between what a client can expect

14:33

from Dame versus what they can

14:35

expect from another registered investment advice?

14:37

So in simplistic terms, think of us

14:40

as crypto wealth management, a white glove service

14:42

that takes care of usually high net worth

14:44

individuals needs when it comes to investing in

14:46

crypto. And so they on board with an

14:48

investment management management agreement agreement. It's

14:50

a standard wire. and then it's

14:53

not held by us, we're business

14:55

partners with Gemini for custody of the

14:57

digital assets. And then from there we

14:59

manage the positions for them, we put

15:02

assets in all kinds of unique accounts,

15:04

not only brokerage accounts, but sometimes IRAs,

15:06

SEPS, 401ks, we monitor that stuff, we

15:08

help them figure out maybe derivatives positions, stuff

15:10

like maybe even putting on a loan with

15:13

you guys, and we watch this and help

15:15

them get through it because just investing

15:17

in Bitcoin can be a lot for

15:19

someone to just start to comprehend. now

15:22

let alone all the things that come

15:24

with having six seven figure wealth in

15:26

crypto you need someone who understands this

15:28

and who's a fiduciary and yes now

15:30

there are a lot of traditional registered

15:32

investment advisors that are open to advising

15:35

on crypto mostly for the Bitcoin ETFs

15:37

just a lot of them they're way

15:39

behind they just received the approval it

15:41

hasn't even been a year yet since

15:44

the Bitcoin ETFs have been approved and

15:46

it's a security right when they're using the

15:48

ETFs it's not the underlying pure asset

15:51

which is what we deal in. Our

15:53

clients have pure Bitcoin and other pure

15:55

digital assets and so there's a big

15:57

difference there in hey what's going on like

16:00

We've been having a lot of questions about

16:02

quantum computing and how it could affect Bitcoin

16:04

and crack Bitcoin. And that's what we've been

16:06

answering a lot lately the last few days.

16:09

And so bringing that question up to a

16:11

traditional advisor, you're probably not going to get

16:13

the answer. Unless they've done some back research

16:15

or maybe they've done some back research or

16:18

maybe they were invested and they weren't really

16:20

weren't supposed to. And now they do and

16:22

they're up to speed. And so putting in

16:25

the time, the business has been operational for

16:27

six and a six and a six and

16:29

a half years for six and a half

16:31

years. There's a lot that we learn through

16:34

those bear markets handling the pure digital assets.

16:36

We've had impairment on our side. We test

16:38

everything for our clients on the networks and

16:41

protocols, but we do that so our clients

16:43

don't have the impairment on our side. That

16:45

makes a lot of sense. And listen, I

16:47

know a thing or two about being around

16:50

for a few bear markets. Yeah. It's not

16:52

surprising to me that everybody now loves Bitcoin

16:54

again, and it's a great idea, and everybody

16:57

should be doing some of it, and it

16:59

should be everyone's portfolios. Just like there are

17:01

a lot of opportunistic, potentially RIA, is there

17:03

are also opportunistic lenders. There's people that are

17:06

saying, oh, it's a great deal. And you're

17:08

going to start seeing fly-by nights pop up,

17:10

left, right, and center. And there is so

17:13

much nuance to this industry. that you won't

17:15

pick up on, that you really only pick

17:17

up on from experience. I can go on

17:19

and on, but things like forks, eardrops, how

17:22

to think even knowing how some of the

17:24

ETFs do their custody versus others, what processes

17:26

they're using, that is alpha. And you don't

17:29

get that with anything other than time in

17:31

the market. Time in the market beats timing

17:33

the market every single time. And between name

17:35

and letter and you have two platforms that

17:38

have time in the market. We didn't try

17:40

to time this thing. When we believe in

17:42

it, we want two feet deep in. And

17:44

I think that's the kind of partner that

17:47

you're going to want to work with if

17:49

you're trying to do this for the long

17:51

term. This to us is just not an

17:54

incremental bump on their P&L. This is our

17:56

life. And so that's very aligned with our

17:58

principles here. in the sort of last red

18:00

zone moment with the SEC to get this

18:03

thing to the goal, but can you

18:05

describe what it was like to pitch the SEC

18:07

on the first ever digital asset RIA? The

18:09

RAA attorney that I had specifically for

18:12

this submission process, filling out the

18:14

paperwork, and they were glad to take

18:16

the business because I was paying them.

18:18

I funded this business with my own

18:20

units of Bitcoin, and so I funded

18:22

this business with my own units of

18:24

Bitcoin, with my own units of Bitcoin,

18:26

with my own units of Bitcoin, like

18:28

I offered to do. They knew the steps to

18:31

actually get things across. It was up

18:33

to me to amend the language. We

18:35

took out a lot of the stuff

18:37

that referred to stocks, fixed income products,

18:39

annuities, and we built back in digital

18:41

assets. We went with the digital asset

18:43

term. We thought that the digital asset

18:45

term, we thought that that was something

18:47

that the SEC was going to

18:49

stick to more, aside from cryptocurrencies,

18:51

we like to think of cryptocurrencies

18:54

more along the stable coin side of things,

18:56

and then ones that are used for payment

18:58

for payment. And it was unique because

19:00

there was two things that were really

19:02

going on that slowed the process and

19:05

then eventually actually got us the registration.

19:07

And one of them was education, just

19:09

like you said. It felt at times

19:11

that the regulators actually for their own

19:13

personal benefit wanted to know what was going

19:16

on or how to invest in it. They

19:18

were intrigued. And it didn't seem like it

19:20

was so much questions that would help the

19:22

framework of the business, but those are things

19:24

that we have to do. And it helps

19:26

everybody along the way anyway. And because

19:29

the whole space was selling off so

19:31

hard, it was interesting, you know, there was

19:33

times where they would leave the office and

19:35

I like, that guy's probably going to go

19:37

buy Bitcoin now after this, right? And we're

19:40

not even approved yet, right? And so

19:42

that kept me motivated to keep going.

19:44

I knew that there was something here

19:46

when I could get that feeling from them

19:48

from a regulator, right? And then the

19:50

next day they would come back and it would

19:52

be a little bit more doom and gloom,

19:55

but the gloom side was like, was like,

19:57

And it got to the point where

19:59

we put in... risk disclosures. Yes, Bitcoin

20:01

can go down by 80%. The network

20:03

can go down. You may not be

20:05

able to get your money. The exchange

20:07

could go down like Coinbase was having,

20:10

you know, at that time in 2017.

20:12

They're having some difficulty. And

20:14

so we kept putting these in

20:16

and then they'd come in 2017.

20:18

They're having some difficulty. And so

20:20

we kept putting these in and then they'd

20:23

come back and say, you know, and then

20:25

they'd come back and say, you know, can

20:27

you come back and I look at this

20:29

list. buy all this, we ended up

20:31

working it out, modifying some language,

20:33

it was pretty thick, but investors

20:36

kind of read through it, and what

20:38

you tend to see is back then

20:41

at least, when you overemphasize the risk

20:43

of investing, they're like, okay, it seems

20:45

like you actually covered all the

20:47

risks that could happen. Now that I know

20:50

everything that could go wrong, I

20:52

feel comfortable doing this. It's the

20:54

unknown that scares people into doing

20:56

it. And so it wasn't so

20:58

bad, actually. So much of my word at

21:00

Latin also has been explaining to somebody

21:02

how a big comeback loan works. What

21:04

happens if you're a custodian attack? What

21:06

happens if the exchange goes out? What

21:09

happens? And we have our own set

21:11

of risk disclosures, but a lot of

21:13

times people don't necessarily all want to

21:15

read through the T's and C's. They want to

21:17

have these conversations one on one. And

21:19

it was then sensing that we had thought through

21:21

each scenario so well. There was no scenario

21:24

that they would throw at us. where we

21:26

didn't have an answer that was clearly thought

21:28

out with implications and what happens after this

21:30

and the knock-on effects and just knowing that

21:33

you understand what could go wrong and

21:35

how to react in those scenarios gives people

21:37

a world of confidence because they haven't had

21:39

the time to think through these scenarios because

21:41

they haven't had the time to think through

21:44

these scenarios as much as we have and

21:46

maybe they've thought about the potential challenge

21:48

but they haven't thought of the solution

21:50

or the solution doesn't check out and

21:52

it's helpful to the homework. Totally Totally

21:54

and I can speak to this we just went through

21:56

a six-figure loan for one of our clients this person

21:58

is very well educated and knows crypto

22:00

very deeply, but because you obviously

22:03

been through all these situations and the questions

22:05

that we had as we walked him through

22:07

with you, you were there, you answered quickly,

22:09

it was clear, concise, it made sense, there

22:11

wasn't a lot of noise, and it's, okay,

22:13

this works out, this is how it is,

22:15

the paperwork, explaining between the lines, made everybody

22:18

feel comfortable, and then the way the

22:20

collateral was sent, it cleared, and then

22:22

the loan amount was sent on the blockchain,

22:25

instant, it gave us all the feeling

22:27

like... The mortgage industry really needs to

22:29

play catch-up because this is just so

22:31

much better to get a loan than going through

22:33

the process of just folding over everything of

22:35

your personal life and still maybe getting a

22:37

couple percentage points added to your mortgage. And

22:39

so you did an excellent job, but that

22:41

only comes from you guys doing it through

22:44

bare markets. It's really the bare markets. Being

22:46

there is a therapist for all these clients,

22:48

hey, this is what's going on with your loan.

22:50

You may not have the exact right answer. It's

22:53

going to be pretty closely because of your experience.

22:55

Because of your experience. Answering quickly is the important

22:57

part. Giving some kind of answer you can always

22:59

update and come back and you're really good at

23:02

that. Harder percent and likewise it's been a pleasure.

23:04

We're going to get into the partnership and how

23:06

we've been working together. But I agree with you.

23:08

People want to feel like they're dealing with professionals.

23:10

And by professionals I mean this is our life. We live

23:13

and breathe this stuff. There's very little things that we haven't

23:15

seen. either by curiosity of our own account or because it

23:17

just happens because we've been in the space for so long.

23:19

So hear you loud and clear and we try to create

23:21

that same feeling with our clients. There is no second best

23:23

when it comes to law. There is no second best when

23:25

it comes to law. There is no second best when it

23:27

comes to law. There is no second best when it comes

23:29

to law. All right. We bet on this a long long time ago. It's

23:31

the human service and there is no second best when it comes to. All

23:33

right. We bet when it. We bet. We bet. We bet. We bet. We

23:35

bet. We bet. We bet. We bet. We bet. We bet. We bet. We

23:37

bet. We bet. We bet. We bet. We bet. We bet. We bet. We

23:39

bet. We bet. We bet. We bet. We bet. We bet.

23:41

We bet. We bet. We bet. We bet. We bet. We

23:43

bet. We bet. We bet. We bet. We bet. They're going

23:45

to want beneficiaries. There's just so many things that are going

23:47

to come into play that people aren't even thinking

23:49

about now. But it's really already starting to unfold

23:52

and we're going to be there to help each other.

23:54

We'll help each other with helping each of our clients.

23:56

No, 100%. So now that we're on the topic of clients,

23:58

can you talk to us about what does... a typical

24:00

Dame client look like? And what are the

24:02

types of services and guidance that they're looking

24:04

for? Most of our clients are business owners, well,

24:07

to do people. They want to put a larger

24:09

allocation, usually in the six figures, to work in

24:11

the space, not a little bit larger. And

24:13

they want to know that they're going to have

24:15

privacy, that things are going to be secure,

24:18

and there's going to be somebody watching over

24:20

these assets for them. It's that comfort level.

24:22

And that gives them the ability to the

24:24

ability to size up into the position more

24:27

appropriately. where if it was just self-directed

24:29

on one of the centralized exchanges

24:31

and you can't get help and they

24:33

shouldn't be saying what size people should

24:35

put into this, they may be under allocated

24:37

to this space. And so it's important

24:39

to go over that. So a lot of

24:41

our clients is well-to-do people deposits in the

24:44

six-figure range and then we manage the assets

24:46

for them. We do like clients that come

24:48

in on a referral basis. We have great

24:50

clients and we want to take care of

24:53

more great people. and do it appropriately, and

24:55

then we're probably evolving the business to just

24:57

maybe raise the minimum a little bit, maybe

25:00

do it on a pre-qualified basis if we

25:02

don't know you, because the better that we

25:04

can continue to offer this human service to

25:06

our current clients, the business will grow, it'll

25:08

keep them happy, and then we can offer

25:10

the same service to people that understand what

25:12

we do here and the value in it,

25:14

and let us just take care of things

25:16

for them. That's very clear, and I think.

25:18

There's so many people in that camp.

25:20

It's easy for us to think as

25:22

Bitcoiners that everyone knows what this is

25:25

like and everyone's comfortable getting or buying

25:27

a treasure or a cold card and

25:29

putting their assets on them or even

25:31

vetting or reading the risk disclosures of

25:33

a counterparty or after we've seen what

25:35

can happen when you don't properly diligence

25:37

a counterparty. So I can only see

25:39

the man for your business growing and getting bigger.

25:41

Now in terms of the services they're looking

25:43

for, do you find that they're asking

25:45

you about position sizing or what tokens or

25:47

what services or how they can get more

25:50

of their Bitcoin? If you could split the

25:52

pie, how many of them want just Bitcoin?

25:54

How many of them want just broad exposure

25:56

to the space? What are some of

25:58

those clients questions that stick? with you? It's

26:00

probably one out of 20 that wants

26:02

just pure Bitcoin, like of new leaves

26:04

that come in and client that on

26:07

board. It may not be as many

26:09

as people think. Really what happens is,

26:11

and there's still a lot more people

26:13

on board, I can just tell you

26:15

because of the conversations that I have,

26:17

these people come in and they just

26:19

tell you because of the conversations that

26:21

I have, these people come in and

26:23

they just say, hey, I don't even

26:25

know. with like staking versus proof of

26:27

stake. They don't even get that. They

26:29

know that they need to be early,

26:31

so they need to get somebody now

26:33

to help get them a position as

26:35

this industry just really grows. And so

26:37

that's really where it's at. Those other

26:39

19 out of 20 are really, you

26:41

guys got this and you manage it

26:43

for us. In our model portfolio, we

26:45

run one strategy outside of Bitcoin only.

26:48

It does keep a majority of the

26:50

assets in Bitcoin and we strategically allocate.

26:52

to add some alpha to the account.

26:54

That's super helpful. Are there any examples

26:56

that you can share without naming anyone

26:58

on how you've helped them navigate the

27:00

ecosystem or maybe get more out of

27:02

their investment or maybe offering something that

27:04

they didn't know existed or financial service

27:06

that gave them that ability to go

27:08

make an additional investment? Anything that stands

27:10

out to you? It's definitely the IRA

27:12

side. There's a lot of people that

27:14

still don't understand that you can put

27:16

pure digital assets, pure Bitcoin, in a

27:18

tax advantage account. And not only that,

27:20

if you have you have a traditional

27:22

IRA, that could possibly be backdoored into

27:24

a Roth IRA, which has no gains

27:26

in the account during the life of

27:28

it and no taxes through the life

27:31

of the account and then no taxes

27:33

at time of retirement. Now this is

27:35

a United States-based thing because we operate

27:37

just in the US, but that is

27:39

still surprising. They're just realizing that they

27:41

can have digital assets in an IRA.

27:43

We don't run it self-directed like some

27:45

of the other platforms. It's still under

27:47

our management, our discretion and it goes

27:49

into our model portfolio portfolio. Bitcoin only

27:51

but yet there's quite a bit of

27:53

that and a lot of our clients

27:55

end up having multiple accounts with us.

27:57

They realize that they can do the

27:59

IRA. And it's like, okay, well, I intended

28:01

to do a brokerage account because that's all I thought

28:03

I could do well Maybe that turns into a

28:05

trust for the family and then there's the IRA that

28:07

goes with it And it's been really

28:09

great to see some of these

28:12

IRAs grow to very large numbers being

28:14

invested in crypto over the last

28:16

several years I'm also a huge proponent

28:18

of not ETF Bitcoin in your IRA.

28:20

I don't have anything against the

28:22

ETS I love the ETF. I think

28:24

they're great But the fact that

28:26

you can hold spots in your IRA

28:28

as well is a massive advantage

28:31

I think eventually we're gonna

28:33

see anything that tries to mirror Bitcoin in

28:35

the equities market trade at a discount to

28:37

spot Just because it's a lot more neutered

28:39

in the sense that there's a lot less

28:41

things that you can do with a visa

28:43

visa spot Bitcoin So I do love the

28:45

fact that you can have Retirement

28:47

Bitcoin and there's no real requirement for

28:49

you to wrap it into our ETF You

28:51

can if you choose to but you

28:53

can also hold its spot There's

28:56

two things we're talking about there is

28:58

in the reason for spot Bitcoin

29:00

Well one the ETFs only trade

29:02

930 to 4 4 15 Monday

29:04

through Friday a lot of the volatility

29:06

Which is actually a good thing and Bitcoin likes

29:08

to happen when there's low liquidity on the

29:10

weekend So you can position yourself into something or

29:12

out of something with a limit order Should

29:14

you be trading that way? We see that that's

29:16

a bit of an advantage to where things

29:18

are The other thing is try to get a

29:21

loan against your Bitcoin ETF position right now

29:23

Like call your broker dealer call Schwab and I

29:25

don't even think Schwab has it yet by

29:27

the way and see if they'll give you

29:29

a loan against it You're gonna see that

29:31

they're most likely not lending against it You

29:33

have to be in this system like you

29:35

guys at lead and to get a loan

29:37

against Bitcoin and you guys require spot Bitcoin

29:39

That's right. No second best. This is

29:42

a great segue into this question

29:44

So recently we've seen a surge

29:46

of demand at lead and our

29:48

demand has nearly tripled from mid

29:50

November up until now And a lot

29:52

of these people are looking for options to

29:54

finance the Bitcoin because they don't want to

29:56

hold it They see great value in holding

29:58

the long term as price act is obviously

30:00

not surprisingly validated. So are

30:02

you seeing similar inquiries from your clients? Are

30:05

people coming to you and saying, great, I

30:07

have seven figures now on this thing, what

30:09

can I do with it? How's that been

30:11

like? We segregate them into two buckets,

30:13

one, the IRAs, the IRAs don't necessarily

30:16

matter because trading in the account while

30:18

it's live, there's no taxable event there.

30:20

And then so we slowly look at

30:22

the taxable account bucket on that side. We

30:24

do tend to see. clients want to

30:26

defer or not see any trading happening

30:29

accounts when we're this close to the

30:31

end of the year so that the

30:33

taxable event should it happen be moved

30:35

into 2025 which then they would possibly

30:38

pay taxes on in 2026. We're not

30:40

so much of a fan of that.

30:42

Look if you really need some of

30:44

your gains from Bitcoin which I think

30:46

people should use some of for lifestyle

30:48

events, things that make your life better.

30:50

It is great for that, but understand

30:52

that you will need to pay taxes

30:54

in that unless you're in the position

30:56

to take out a responsible loan with you

30:58

guys like that. And so those are the

31:01

two types of ways we drift the conversation.

31:03

Do you want to look at a loan

31:05

so that we don't have to sell us

31:07

and incur a taxable event? Or are you

31:09

prepared to pay taxes? I wouldn't just wait

31:11

for a numerical date. Things can change in

31:13

the market. You should get used to paying

31:15

taxes on crypto gains when you sell some.

31:18

I mean we see it with Roger. We're

31:20

big on our clients, making sure that everything

31:22

is filed the right way with the IRAs,

31:24

with the IRS, and also with 1099s. Look,

31:26

we don't want anybody to get in trouble in

31:28

an audit. We want them to have all

31:31

the information needed. And so that just comes

31:33

back to these are really the two routes

31:35

that you have. Take a loan or be prepared

31:37

to pay taxes. Make it simple. That's

31:39

brilliant. I'm a big fan of the thinking

31:41

of the thinking that you shouldn't let... arbitrary

31:43

government dates or filings of this guide your

31:45

behavior? Who decides when the cutoff is? Markets

31:48

don't think that way. People don't think that

31:50

way. Your year end could be very different

31:52

from someone else's year end. And so you're

31:54

going to be making decisions on things

31:57

that are very subjective, I find, and the outcome

31:59

might always be. people expect. So it's fascinating

32:01

that you have a similar view on

32:03

that. Because let's look at it this

32:05

way too. If you push out taxes

32:07

and a large tax bill to 2026

32:09

and that's possibly near the bottom of

32:11

the next bare market and you have

32:13

capital on the sidelines where you can

32:15

increase the amount of units that you

32:17

had before, but instead you take from

32:20

that and you pay your taxes, all

32:22

that hard work that you did. It's

32:24

just gone out the window because you

32:26

simply just took cash available and paid

32:28

taxes. Where, the better thing, and we're

32:30

trying to guide clients, is who is,

32:32

hey, let's be prepared for this, and

32:34

then also, let's look at maybe taking

32:36

a loan. Like, let's go to Ledden

32:38

and see if it's the right time

32:40

to size up into this. That's a

32:42

great segue again. You're jumping into my

32:44

questions here, and it's amazing. So, Can

32:46

you explain not necessarily what it's been

32:48

like to set up because we don't

32:51

want to bore people with that, but

32:53

what has that look like for your

32:55

clients? Like what has that experience look

32:57

like? Can you walk us through an

32:59

example maybe of a client that has

33:01

done this? A lot of it is

33:03

text and phone calls, old school stuff.

33:05

We read all the documentation, we understand

33:07

it, we've tested it, we try to

33:09

be able to answer the questions without

33:11

even having to go to you and

33:13

asking you a question, but it's good

33:15

knowing. when needed to reassure the client

33:17

because they do like seeing you come

33:19

into the play too and it's just

33:21

not us alone because a loan is

33:24

a lot different than just keeping some

33:26

assets on a centralized exchange. This is

33:28

different now. You have collateral here that

33:30

could get margin called or stripped away

33:32

and so this stuff needs to be

33:34

monitored and then we overlay our own

33:36

proprietary system on watching the loan as

33:38

well on a more conservative basis aside

33:40

from what you guys have in place

33:42

for the clients. We want to be...

33:44

very clear and transparent with our clients

33:46

on where they're at with the loan

33:48

if Bitcoin has gone up a lot

33:50

if maybe some of the collateral is

33:52

able to come back to the client

33:54

but then in the other direction should

33:57

things sell off never want them to

33:59

be in an emotional place where they

34:01

have to make a rash decision, we're

34:03

going to try to go back and say,

34:05

hey look, before you put the loan on and

34:07

there was no emotions, these are the plans for

34:09

these situations and what we were going to do

34:11

we need to stick with those. Let's not deviate

34:13

from the investment plan. It's really, they

34:15

get access to our products with an

34:18

extra layer of oversight and investment advice

34:20

because that's what your license to do,

34:22

which I think for many people is

34:24

a great reassuring layer of comfort for

34:26

them to. They're not doing it alone.

34:28

Correct. Like who wants that, right? Like

34:30

they wouldn't just be facing you when

34:32

these loans get large, six, seven figures.

34:34

In the traditional space, this is done

34:36

with a team. You wouldn't just do

34:39

this by yourself. I just had another

34:41

guest a few weeks back talking about

34:43

algorithms versus professionals and talking about how

34:45

algorithms always be professionals, even when trained

34:47

on the same data. And it goes

34:49

back to this idea of stripping emotion

34:51

from this idea of stripping emotion from

34:54

a decision. You go back to this

34:56

idea of stripping emotion from a decision.

34:58

Do not deviate from this, because then

35:00

all the other projections are going to

35:02

get impacted. and it's that constant sort

35:04

of remove the feelings I'm here you're

35:06

sort of like a shirt path a

35:08

bit quite shirt path if you would

35:11

so you've dealt with regulators I

35:13

believe under both Trump and the

35:15

Biden era if I'm not mistaken yes

35:17

so we'll spare everyone on what we

35:19

think of the previous SEC but now

35:21

we've just had a signal of a

35:24

new administration that we're gonna get a

35:26

change in the SEC What do you

35:28

expect to see from the

35:30

SEC under this new administration and

35:32

what other that could impact

35:34

your business? So on the SEC side,

35:36

it's going to be more on, are

35:38

we going to see, you know, Solana

35:41

next as an ETF, right? It's going

35:43

to be more on the next as

35:45

an ETF, right? It's going to

35:47

be more on the issuance of

35:49

securities on that side. It's not

35:51

necessarily required to be that way,

35:53

but we did that as an

35:56

additional layer. to help our clients

35:58

feel more secure in accountability. when

36:00

they invest through us. And so I think

36:02

we might start to see a little

36:04

bit of that, but Trump is very

36:06

big on loosening regulations. So we might

36:08

not. What could really happen here is

36:11

the SEC just focuses on more

36:13

obscure larger alternative investments and then

36:15

just maybe expedites the path of

36:18

listing ETFs for other digital assets.

36:20

Whereas the rest of the players

36:22

in the space, coin-based Gemini, the

36:25

centralized exchanges and us, we just

36:27

continue to operate the way that

36:29

we do. But that could be a

36:31

bad thing, I think, a little

36:33

later on, just to warn people.

36:35

When you had deregulation, it really

36:37

allows people to, you and I

36:39

have seen this every bull cycle. It's

36:42

like, man, that guy just came out

36:44

of nowhere, that team's got a

36:46

really good website, but what's the

36:48

history? What's the track record? What's

36:51

the track record? What's the track

36:53

record? What's the track record? What's

36:55

the track record? What's the track

36:58

record? What's happening? But for the SEC,

37:00

I really think that's it. A lot of

37:02

us are just going to continue to operate

37:04

the way that we are. Maybe we see

37:07

a few less audits over the next few

37:09

years in office is maybe what we see.

37:11

Well, there's no catch-all to save people from

37:13

being accountable to themselves. And I think a

37:15

big problem. is that there's very little of

37:18

that. Unfortunately, my grandfather used to say

37:20

common sense is the least common sense

37:22

of them all. And it's sadly true.

37:24

We did have a period after the

37:26

bear market and the blowups where people

37:28

were very diligent and very obsessive about

37:31

keeping whatever little they had left after

37:33

the nuclear bomb that went off. But

37:35

I'm already starting to see glimpses of

37:37

that losing behavior. You know, you're seeing

37:39

companies popping out of nowhere, lenders popping

37:42

out of nowhere, obviously offering you the

37:44

world in a bath. Which really reminds me of the

37:46

blockfires of the world and the other people that came

37:48

out with too good to be true offerings and later

37:50

we realize that we're all too good to be

37:52

true. So if you're listening to this show, you're probably

37:54

pretty personally accountable. So you're not the person to be

37:57

talking to, but... We hope the Google algorithm picks this

37:59

up though and... it puts it in front of

38:01

some other people that haven't invested yet, or

38:03

if they haven't, they're looking for a loan,

38:05

at least goes to the right place. And

38:07

this is why we do this stuff, right?

38:10

You don't have to be a living client

38:12

to listen to this, or a named client

38:14

to listen to this. This is all just out

38:16

there for you to consume. Yeah, I mean,

38:18

the best thing people could do is just

38:20

share this, right? If there's something people could

38:22

do, is just share this, just share this, is

38:25

just share this, right. I mean people could.

38:27

just for them this link and then they can

38:29

get in touch with us and we can probably

38:31

help save a few more people from like what's

38:33

going wrong and then do this the right way

38:35

the more people we help do it the right

38:37

way the more that this spawns. Completely agree

38:40

by helping others you help yourself. We're going

38:42

into what I like to define as the

38:44

financialization era of Bitcoin we got the

38:46

micro strategy Trojan horse doing its thing

38:48

we got ETFs doing its thing soon

38:50

we'll get the army of sales desks

38:52

around the big bags pushing this stuff

38:54

Blackrock came up with an

38:56

investment for Bitcoin allocation suggestion.

38:58

I think that companies like Dame, hopefully

39:00

Atlanta too, but I think you guys

39:03

are uniquely positioned to take market share

39:05

from all the other RIA's that didn't

39:07

jump on this when they should have

39:09

and they're now basically retroactively trying to

39:11

come into the space where you guys

39:13

actually did walk the walk way back

39:16

when it wasn't cool yet as they say.

39:18

So yeah. What do you guys have planned

39:20

for the next year to capture or capitalize

39:22

on this opportunity? And what do you think

39:24

this is going to do to the broad

39:26

RAA ecosystem? Kind of two parts. We're going

39:28

to answer how we plan to continue to

39:30

grow the business. And then I'll talk about

39:33

the broader RAA ecosystem. On our side, it's

39:35

really that keep the human service, being able

39:37

to call our clients back right away, being

39:39

able to message being experts and fiduciaries in

39:41

the space. If you need to know or want

39:43

to do an IRA, we got you. If

39:46

you want somebody to manage a manager portfolio

39:48

for you because you don't understand the space.

39:50

We got you as well and we have a six

39:52

and a half year track record of managing assets that

39:54

we can back up and show you that's outperformed to

39:56

buy and hold a Bitcoin alone. And so just continue

39:59

to build on that. and then with some key partnerships

40:01

like what we're doing that way we can just

40:03

reach more people because when someone puts on a

40:05

large loan on your side they're most likely to

40:07

have a bigger stack of something somewhere else that

40:10

may have grown by multiples that again comes

40:12

back to you can't have beneficiaries on your

40:14

treasure wallet right and if it's not your

40:16

will you don't have someone that can access

40:18

it those are gone those are lost coins and so there

40:20

is a point where having a fiduciary in

40:22

the space with a licensed custodian Maybe

40:24

not for all of your stuff, but for some

40:27

of it, that way you're hedged, should something happen

40:29

to you, is really going to help you in

40:31

the space. And we know how to do that

40:33

stuff. You can't go back in time and put

40:36

the experience in, like we have. And so leading

40:38

to traditional advisors, we talked to a

40:40

lot of traditional advisors. Our bulk of

40:42

our assets do come from, they were

40:45

in stocks with a traditional advisor, that

40:47

advisor needs to sell some of the positions,

40:49

and then that transfer comes over to us.

40:51

And so we do offer a sub-advisor referral

40:53

fee sharing program, should they want to use

40:55

it? Or a lot of them are just

40:57

like, look, I don't know the space. We're

40:59

sending over a small amount out of what

41:01

I manage. Just take care of them. That's

41:03

all we hope you guys do over there.

41:05

And we looked you up and you guys

41:07

have a track record that can't be matched.

41:09

And so from the RAA space, what's going

41:12

to end up probably happening for those guys besides

41:14

making an allocation manually themselves

41:16

to it. they're going to be

41:18

waiting for an index or a mutual

41:20

fund and something to kind of package

41:22

Bitcoin into it. And then that way

41:25

the allocation is on a sub-allocation, right?

41:27

It's not them making a direct shot.

41:29

The biggest fear that there has been and

41:31

will continue, it's going to come back when

41:33

we start another bare market, is,

41:35

oh, people's stomach when the volatility hits

41:38

to the downside. And these advisors, when

41:40

they're just generating 9 to 11% per

41:42

year, maybe a little bit bigger because

41:44

the S&P's had two great years. The

41:46

fall is actually low on them and that keeps

41:48

client turnover low. The last thing they want to

41:51

do is rock the boat and lose a bunch

41:53

of AEM so they don't see it's worth it

41:55

to put on a 1 to 3% position

41:57

manually in Bitcoin right and forth.

41:59

of maybe what could be the coming

42:01

bear market and then have to deal

42:03

with all that and people transfer off.

42:05

So they're going to continue I think

42:08

to look to offset the fiduciary capacity

42:10

of investing in Bitcoin. That's a

42:12

fascinating insight and I think this is

42:14

why you guys are so well positioned

42:16

is because I think back to conviction

42:18

a lot. There's a reason why we

42:20

don't panic when Bitcoin goes to 3K

42:22

and 5K and 10K and whatever is

42:24

because we've seen it there and not

42:26

only that. But in my perspective, I

42:28

saw why Bitcoin is free of money

42:30

because it's unstoppable, uncensorable, and accessible to

42:32

everyone 24-7. That's what makes Bitcoin valuable.

42:34

A lot of people haven't seen that.

42:36

And so it's natural for them to

42:38

think what is the real value. Oh

42:40

my God, was I just duped. Did

42:42

I come in at a high moment

42:44

when this was all going down and was

42:46

never really any value in there? But

42:48

for people like us that have seen

42:50

it. For me, I sleep very peacefully,

42:53

very peacefully, very peacefully at night. And

42:55

on the other side, there's this beautiful blue

42:57

sky, if you just managed the volatility.

42:59

But for people like us, I used to think

43:01

a lot in dollar terms. Now I think a

43:03

lot of the Bitcoin. Like, Mr. Market is crazy.

43:05

One day it's a million bucks. One day

43:07

it's 300K. But over time, the feedback

43:09

loop has reinforced me and my belief

43:12

that this thing is unstoppable. Nothing stopped

43:14

this strain. I can't agree with you

43:16

why, we made a social media video

43:19

yesterday, and that's one of the things

43:21

in there was, and we're seeing this

43:23

from more sophisticated investors, is that everything

43:26

is priced in terms of Bitcoin. It's

43:28

an opportunity cost against Bitcoin with everything.

43:30

And we talked about this early on

43:33

in being invested in crypto 2014-15. If

43:35

you look at an investment, is that

43:37

going to outperform Bitcoin? Are you going

43:39

to feel more secure? Are you at CEO

43:41

risk? Is there an earnings risk? Is there

43:44

sales risk? with real estate. The carry-on real

43:46

estate, it's just so painful. There's so many

43:48

middlemen. The transactions are getting slower. I mean,

43:50

I talked about it earlier in this. When

43:52

you go to get alone, all the stuff

43:54

you have to divulge, and it's just like, are you

43:56

going to mow the lawn? Are you going to take care

43:58

of the water? And then they come out. the brokers, it's

44:00

just getting to be painful where you can take

44:02

your Bitcoin with you anywhere, you can't take your

44:04

land, and it's finite. It's scarce too. And

44:06

so it's really cool about

44:09

Bitcoin as the investment thesis shifts with

44:11

people. It doesn't matter if they're in

44:13

now or been in for a while.

44:15

What got them in in the beginning

44:17

like me was different from why I'm

44:19

in it now, and it will continue

44:21

to evolve and change because Bitcoin really

44:23

solves just about everything it could when

44:25

it comes to investing. That's a great

44:28

way of rounding it up because we

44:30

ended up with a very maxi saying

44:32

Bitcoin fixes almost everything. We're pragmatic here.

44:34

It doesn't fix fully everything, but as

44:36

far as financial assets go, almost

44:38

everything. I don't think I could look at a guy straight

44:40

in the eye if he tells me it fixed his

44:42

relationship. But the meme

44:44

stands as far as financial assets go. I do agree

44:46

with you for the same reasons. I've always

44:48

said this, I'll say it again, borrowing against your

44:51

Bitcoin will be cheaper, faster, more efficient than

44:53

borrowing against US real estate. It's just a matter

44:55

of time. And it will continue to

44:57

demonetize real estate. It will continue to

44:59

demonetize gold. It will continue to demonetize bonds

45:01

and things that shouldn't really have been

45:03

monetized in the first place. But I'm

45:05

excited about what's ahead for both of us

45:07

and working together. I get to chat with you

45:09

often. So next year is looking really well. Where

45:12

can our listeners find out more

45:14

about you and about DAME? A

45:16

great place to start is the website. It's

45:18

DAME -D -A -I -M D -A -M -D -A -I -M .io. It's

45:20

a great place to start. You can contact

45:22

us there through it. The social media handles,

45:24

my name is Brian with a Y. Last

45:26

name, Corshain, C -O -U -R -C -H -E -S -N -E.

45:28

You can start to find me out there,

45:30

but the website's a great place to start.

45:32

And we're on all social media. So if

45:34

you just search a little bit, crypto wealth

45:36

management, registered investment advisor, something will pull you

45:38

towards us and we'll be able to help

45:40

you out. Brilliant. And we'll also put the

45:42

links on the show notes for anyone listening

45:44

that wants to take a look and want to

45:46

go on Google. But Brian, this has been excellent. I

45:48

know you're a busy man. So thank you for

45:51

taking the time. And I look forward to doing this

45:53

again in some time and seeing where things are

45:55

at. This is all about just us having a great

45:57

partnership so we can take care and help out a lot of

45:59

people now. with services that are really

46:01

needed for Bitcoin and I'm glad we're

46:03

working on this together and we're going

46:06

to help a lot of people. Brilliant.

46:08

Well to 2025 and see you soon.

46:10

That's it. Love it. Every entrepreneur's journey

46:12

is very different and yet they

46:14

all share many things in common.

46:17

Brian's story is one of resilience,

46:19

never giving up in a continued

46:21

push for progress and innovation. From

46:23

pouring concrete in Florida to managing

46:25

million dollar portfolios for wealthy clients.

46:27

he is a testament to hard

46:29

work, dedication, and ambition. Through companies

46:32

like Dame, Bitcoin and digital assets

46:34

are getting in the hands of

46:36

more and more people. There are

46:38

many people who wouldn't feel comfortable

46:40

participating in this industry without feeling

46:42

like they have a professional on

46:44

their corner. Not only could they be helpful

46:47

in avoiding common pitfalls, but they can also

46:49

guide you into financial services that can help

46:51

you get much more out of your investment,

46:53

like Ledin's Bitcoin. I think there's a very

46:56

bright future ahead for companies like Dame as

46:58

there will be many new entrants into the

47:00

space looking for professional advice in the years

47:02

to come. I hope you enjoyed the show

47:05

and thanks again for listening. We'll be back

47:07

soon with another great guest. If

47:19

you enjoyed this because of Bitcoin episode, I

47:22

would be very grateful for the five

47:24

seconds it would take you to drop

47:26

us a review and give us a

47:28

rating on your favorite podcasting platform. This

47:30

will really help us reach even more

47:32

listeners. And if you'd like to learn

47:34

more about Bitcoin, be sure to check

47:36

out our newsletter by subscribing at ledn.io.

47:38

That's ledden.io. Again this was Mauricio di

47:40

Bartolomeo. Stay tuned for our next episode

47:42

and until then, much hoo chaggracias and

47:44

lo skero mucho.