The U.S. Is Printing $7.2 Million Per Bitcoin

0:00The United States is going to print $7.2

0:03million for every new Bitcoin mined this

0:05year. That's not a metaphor, and it's

0:07not me guessing. 164,000 Bitcoin will be

0:11mined in 2026 in the United States will

0:13create roughly $1.2 trillion new over

0:17the same 12 months. 1.2 trillion divided

0:19by 164K is $7.2 million of brand new

0:24money arriving for every single new

0:26Bitcoin. And if you own Bitcoin or gold

0:29or a house or a savings account, that

0:31one ratio is going to explain more about

0:33the next 10 years of your financial life

0:36than any Fed meeting, any election, or

0:38any price prediction that you're going

0:40to hear this year. Gold already figured

0:43this out. The world central banks have

0:45been repositioning around that asset for

0:4718 months. And this year, they did

0:49something that they haven't done since

0:501996. I'm going to show you exactly what

0:53it was, but you need the rest of the

0:55context first for it to land properly.

0:57Because most people think that the money

0:59printing happened in 2020. They remember

1:01the stimulus checks. They remember

1:03everything that they buy costing more

1:05afterward, and they think that it ended.

1:07But it did not end. In fact, since 2020,

1:10it has only accelerated. The American

1:12money supply just set a brand new

1:13all-time record for the 27th month in a

1:16row. It's now $1.43 43 trillion larger

1:19than the peak of the emergency that

1:21everyone remembers 6 years ago. 2020 was

1:24not the end of the printing. It was just

1:26the part that they told you about. And

1:27by the end of this video, you're going

1:29to see why the math says that Bitcoin is

1:31trading about 65 to 95% below where it

1:34actually should be right now and why $1

1:37million Bitcoin is much closer than you

1:39think. So, let's start with the

1:41receipts. The measure that matters here

1:43is called M2. And it's much simpler than

1:46it sounds. M2 is just every dollar in

1:48existence in a form you could actually

1:50spend. So cash, checking accounts,

1:52savings accounts, money market funds,

1:53things like that. It's just a tally of

1:55how many dollars are out there floating

1:57around in the system. And in July, that

1:59tally hit 23.22

2:02trillion, an all-time high. It grew by $

2:04102.8 billion in that single month. And

2:07it's now increased for 27 consecutive

2:10months without one pause. Since the

2:12first day of January, the money supply

2:14has grown by $862.7

2:16billion. Eight months, almost $1

2:19trillion with no emergency or reason for

2:22printing to speak of, at least on the

2:24surface. And go back to the number from

2:26the open because this reframes

2:28everything you think you know about the

2:30last 5 years. The March 2022 peak in

2:32money printing, that's the top of the co

2:34money creation. It's a moment that

2:36everyone points to when they explain why

2:38their groceries cost what they cost now.

2:40But we are 1.4 43 trillion above that

2:44peak right now today. The thing that

2:46everybody believes was a one-time

2:48emergency turned out to be the new norm.

2:50And you haven't heard about it. And

2:51there's a reason for that. And now I

2:53have to widen this out because

2:54everything I just told you is only

2:56America. And America is not the sole

2:59problem. America is just onethird of the

3:02problem. The global money supply. So

3:04every dollar in euro and yen and yuan in

3:07the world added together just hit $150

3:10trillion.

3:12It grew by $10.7 trillion in a single

3:14year. That's 7.7%.

3:17So while they tell you that inflation is

3:18contained at 3%, you got to understand

3:20that that's simply not true. We'll get

3:22to that in a minute. Here's what that

3:24does to the number in the title. I told

3:26you that the United States will create

3:28$7.2 million for every new Bitcoin mine

3:30this year. That was the polite version.

3:32Take the global figure instead. $10.7

3:35trillion of new money in 12 months

3:38against 164,000 new Bitcoin. That is $65

3:41million of brand new, freshly printed

3:43money for every single Bitcoin that

3:46comes out of the ground. And one more,

3:47cuz I want you to feel the scale rather

3:49than just hearing it. Since 2020, the

3:52world has created $50 trillion. The

3:54total is $150 trillion, which means that

3:57one out of every three units of money in

4:00existence on Earth today did not exist 6

4:03years ago. We have printed 33% of all of

4:06the world's money in just 6 years. Not

4:08the United States, the Earth. Now, the

4:11obvious question, and the one that

4:12decides whether any of this actually

4:14matters to you, is whether or not it

4:16stops. Because if this is just a phase,

4:18if the money printing is going to stop

4:19at some point, you can wait it out.

4:21Eventually, your purchasing power will

4:23restore itself. But let me show you the

4:25machine underneath it. And then I want

4:27to show you what four different

4:28institutions have already done about

4:30that machine because they are not

4:32waiting. The United States now carries

4:34$40 trillion in debt. If you've been on

4:35the channel for a while, you've known I

4:37spent the last two videos talking about

4:39this specifically. The interest alone on

4:41that debt has crossed $1 trillion a

4:43year, and it's up 15% over the last 12

4:46months. Not the debt, just the interest

4:49alone. The government is in fact now

4:51spending more to service what it already

4:53borrowed than it spends on almost

4:54anything else. And it is still running a

4:57deficit, meaning we are spending more

4:59money than we're taking in of roughly

5:01$1.8 trillion a year on top of that. So

5:05follow the loop here because this is the

5:07entire thing. The government spends more

5:09than it takes in. It borrows the

5:10difference. The borrowing raises the

5:12interest bill. The interest bill widens

5:14the deficit. And a wider deficit means

5:16more borrowing next year than this year.

5:18It's an infinite loop and there's no

5:20version of that loop where the number of

5:22dollars that are printed every single

5:23year goes down. Not with a different

5:26president or even with a different Fed

5:27chair. The math only runs in one

5:30direction. And every single person in

5:32this video who manages real money has

5:34already figured it out. Now hold that

5:36against the other number. 164,000.

5:39That's how many Bitcoin will be created

5:40this year. And again, that's not a

5:42guess. That is written into the

5:44software. It's enforced by every

5:46computer running the network. And

5:47there's no committee anywhere on Earth

5:49that can change it. Not this year and

5:51not ever. One of those two numbers is

5:53attached to a machine that cannot stop

5:55printing. But the other one is attached

5:57to an absolutely finite supply. That's

6:00the entire trade. And everything I am

6:02about to show you is somebody enormous

6:04acting on it. And you probably should

6:07too. But before we get to that, before

6:08we go any further, comment down below if

6:10you've noticed your own money buying

6:12less over the last 6 years. Even though

6:14the official numbers keep telling you

6:16that inflation is under control, I read

6:18every single one of these and I want to

6:19see how many of you are living the same

6:21thing that I am. And while you're down

6:23there, if you're not yet subscribed, if

6:24you're getting something out of this,

6:25make sure you hit subscribe, drop a

6:26like, and turn on the bell so these

6:28videos show up in your inbox. It helps

6:30the channel a ton. I appreciate everyone

6:32who does it. So, here's the part I

6:34promised you at the beginning. In the

6:35second quarter of this year, the world's

6:37central banks bought 288.9

6:40tons of gold. That is a 62% increase

6:43over the same quarter last year, and

6:45it's the single strongest second quarter

6:47in the entire history of the World Gold

6:49Council's data. Here's why that specific

6:52quarter matters so much. I don't want to

6:54bore you here. Stick with me for a

6:55second. Q2 of this year was the worst

6:57quarter for the gold price since 2013.

6:59Gold had come off a record near $5,600

7:02in January and collapsed. Everyone who

7:05owned it for momentum was totally gone.

7:07Yet, despite that weakness, the

7:09institutions with the best macro

7:10information on the planet bought a

7:12record amount. So, clearly, they were

7:14not chasing the rally. The price was

7:15crashing while they were doing it. They

7:17were buying while it was falling. That's

7:19not what you do when you're trading

7:20something. It's what you do when you're

7:22replacing something. And this summer,

7:24they finished. For the first time since

7:261996, gold passed the United States

7:28Treasuries as the largest reserve asset

7:31held by central banks anywhere in the

7:33world. Stick with that for a second. For

7:3530 years, the safest thing a country

7:37could own was a promise from the United

7:39States government. That's what a

7:40Treasury bond is. Ultimately, it's a

7:42promise. And this year, collectively and

7:44quietly, the world decided that a shiny

7:47rock is now the safer thing to hold. And

7:51look at what changed in between. In

7:521996, the entire national debt of the

7:55United States is $5.2 trillion. But

7:58today, it's $40 trillion. Eight times

8:01larger in just 30 years. It's the reason

8:03that these holdings flipped. That is

8:05one. Now, here is two. The word

8:08debasement appeared in 1533 Bloomberg

8:12articles in a single week last month.

8:14That's the third highest weekly count

8:16ever recorded. Not on X or Twitter, not

8:18on this channel, but on the terminal

8:20that sits on every institutional trading

8:22desk on Earth. And for your reference,

8:25debasements means the devaluation of the

8:27currency. Three is Black Rockck, the

8:30largest asset manager on the planet. It

8:33published research this month stating

8:34plainly that Bitcoin's 10-year returns

8:37track accelerating global money supply

8:39and they're recommending it as a hedge

8:41against the exploding United States

8:42debt. Listen to that again because they

8:45just handed you the entire mechanism and

8:47it stopped one step short of the

8:49conclusion. Black Rockck says that

8:51Bitcoin tracks the money supply. The

8:53money supply is compounding at roughly

8:55$700 billion a year in America and $10.7

8:58trillion a year worldwide. They gave you

9:00the relationship. They just didn't print

9:02the number that it produces. And this is

9:04not a research desk writing notes from

9:06the sidelines. Black Rockck's Bitcoin

9:08fund holds 771,641

9:10Bitcoin at the time of this video's

9:12market close. About $61 billion, and it

9:15absorbed roughly 62% of the $3 billion

9:18that flowed into Bitcoin funds in

9:20August. They have massive position here.

9:22And four, in August of 2025, with the

9:25national debt at $37 trillion, the

9:28Treasury Secretary said he and the

9:30president were laser focused on paying

9:32down the debt. One year and $2.8

9:34trillion of additional borrowing. Later,

9:36here's what he said last week. He said,

9:38"There is nothing magic about the $40

9:39trillion number, and we can grow our way

9:41out of that." That's not a gaff. That is

9:43the plan being announced. But think

9:45about it this way. You cannot cut your

9:48way out of that loop and you can't tax

9:50your way out of it. Lowering rates

9:51ultimately does nothing because the

9:53money needs to get spent into the

9:54economy for it to be propped up and you

9:56can't tax your way out of it because tax

9:58receipts are earning less and less each

10:00year. So the remaining option is to make

10:02the economy bigger in dollar terms. And

10:05the fastest way that anyone has ever

10:07made an economy bigger in dollar terms

10:09is simply to make more dollars. Central

10:12banks buying gold at a record while the

10:14price collapsed. Bloomberg running the

10:16word debasement at a nearrecord rate.

10:18Black Rockck formerly recommending

10:20Bitcoin against the debt problem. And

10:22the man who runs the American balance

10:23sheet going from paying it down to

10:25growing out of it by printing a ton of

10:27money inside 12 months. Those are four

10:30completely separate stories that ran in

10:31four different weeks, but they're the

10:33same operation. And everyone who can see

10:35this is already positioned for it. And

10:37not one of them is telling you to do the

10:39same thing. By the way, I run a

10:41community for serious Bitcoin investors

10:42called the Hard Money Room. weekly live

10:44discussions with me, plus a live

10:46dashboard I built that scores exactly

10:47where we are in the cycle. Link for that

10:49is at the top of the description. So now

10:51the question is not whether this is

10:53happening. The question is why you're

10:55probably going to do nothing about it.

10:57Anyway, now hear me out on this. There

10:59are three reasons and they're all

11:00reasonable and I want to take them

11:02seriously one at a time because I have

11:04used all three of them myself. The first

11:06one is that the money supply always goes

11:08up. It's gone up for decades. Since the

11:10year 2000, American money supply has

11:12grown at an average of about 6.3% a

11:14year, which is roughly $700 billion

11:17annually. Globally, the compounded rate

11:19since 2000 is 6.9%. So, what's happening

11:23right now is not remarkable. If

11:24anything, it's on the low side of the

11:26historical range. Well, that is correct.

11:28Every word of it, and it's the most

11:30important thing in this entire video.

11:32But if this required a crisis, you could

11:34wait it out. You could tell yourself

11:36that the money printing was an emergency

11:38measure. the emergency is passed and the

11:40system will normalize on its own. That

11:42is what most people are quietly assuming

11:44without ever saying it out loud. But

11:46this number is not spiking. It's

11:48compounding. There's no emergency. It's

11:50going up quietly monthly in the

11:53background at a rate that literally

11:54nobody reports because it's not dramatic

11:56enough to write a story about. You don't

11:58need a pandemic for this math to run

12:00against you. You just need your average

12:02Tuesday or Wednesday. The second reason

12:04people give for not caring about money

12:06printing and what it does to them is

12:07that they think, "Well, wages go up,

12:09too. If everything inflates higher,

12:11nobody's actually worse off because I'm

12:12getting paid more than I was 5 years

12:14ago." Well, it's not exactly true. Look

12:16at what that actually produced. Since

12:18the mid1 1960s, American wages are up

12:20nearly 12 times. That sounds enormous,

12:23but over the exact same window, the S&P

12:25500, America's largest stock index, is

12:27up 100 times. Roughly eight times as

12:30much relative to wages. That gap is not

12:33an accident and it's not a policy

12:34failure. It is the mechanism working

12:36exactly as designed. Think about it this

12:38way. New money does not arrive evenly.

12:41When it gets printed, it arrives at the

12:42top of the asset stack and works its way

12:45down. And by the time it reaches your

12:47paycheck, most of the purchasing power

12:49has already been claimed by whoever

12:51owned the assets first. Which brings us

12:53to the third reason. And this is the one

12:55that I really want you to sit with. You

12:56may think, fine, if assets absorb the

12:59money, then just own assets. Buy the

13:01stock index. Problem solved. But here's

13:03what happened in the second quarter of

13:05this year. The single largest

13:06contributor to S&P 500 earnings was not

13:09even a member of the S&P 500. It wasn't

13:11even a publicly traded company. Big tech

13:13booked more than 160 billion in gains

13:16last quarter from simply marking up

13:19their own investments in privately held

13:21AI companies. Companies that they partly

13:23own, valued by themselves, run through

13:26the income statement as earnings. That

13:28is a meaningful share of what you are

13:30buying when you buy the index right now.

13:32Not a new factory or actual business

13:34expansion, new products, whatever. A

13:36number that one company assigned to a

13:38stake in another company that nobody can

13:40independently price. There's nothing

13:42illegal about it. It's fully legal. But

13:44it's just a reminder that the thing you

13:46thought was a hard asset that is certain

13:48to go up forever has a lot more

13:50discretion baked into it than you

13:52assumed. And here's where all three of

13:54these arguments converge on the one

13:56asset that's going to save your

13:57portfolio over the next decade. Real

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15:16sponsoring today's video. And now back

15:18to the show. Now, let's talk about the

15:20gap because again, this is the part that

15:23should change how you look at the price

15:24on your screen and point you to the one

15:26asset that could save you. Start with

15:28the number in the title because I want

15:30to show you what it actually requires.

15:32$1 million per Bitcoin. Right now, there

15:35are roughly 20 million Bitcoin in

15:37existence. At a million each, that makes

15:39Bitcoin a $20 trillion asset. Gold today

15:43is just $32 trillion. So, a

15:46million-dollar Bitcoin isn't even

15:48Bitcoin going to the moon. A

15:50million-dollar Bitcoin is just Bitcoin

15:51reaching about twothirds of the size of

15:53gold. And gold by itself added more than

15:56$20 trillion in market value between

15:58January 2024 and March of this year.

16:01Gold added an entire million-doll

16:03Bitcoin in literally 26 months. While

16:05nobody called it a bubble, Bitcoin today

16:07is worth just $1.5 trillion. Gold is

16:10more than 20 times larger than the

16:12asset. It does the exact same job with a

16:14harder supply. And the two of them have

16:16stopped behaving like rivals and they've

16:18started behaving in the same way. If you

16:20price them against each other, Bitcoin

16:22sat in the same range for 5 years, but

16:24it just broke below that range and

16:26reclaimed it and it's been rising for

16:28the last few weeks. Both assets were the

16:30momentum lagards of this entire year.

16:32While AI got the spotlight in the

16:34capital, Bitcoin and gold fell behind.

16:36But the same money is now funding both

16:39of them at the same time for the same

16:41reason. That hasn't been true for most

16:43of Bitcoin's life, and it's the clearest

16:45signal in this entire video about what

16:47bucket Bitcoin has moved into. So, what

16:50does the math actually say Bitcoin is

16:52worth and what it could be worth one

16:54day? Well, if you take the model that

16:56tracks Bitcoin against global liquidity

16:58a year ago, that chart was on every

17:00timeline in finance on Twitter every

17:03single day. You've probably seen it

17:04before. It's this one right here. But

17:06then, Bitcoin decoupled from it and the

17:08chart quietly disappeared from

17:09everybody's feed. Well, it didn't stop

17:11working. It just stopped being

17:13convenient. Right now, that model puts

17:16fair value at $223,800

17:20against a price of $77,000 per Bitcoin.

17:23That is 1.77 standard deviations below

17:25fair value. And it has only stretched

17:27that far twice in Bitcoin's entire

17:30history. Well, that is the conservative

17:32number. That is Bitcoin simply catching

17:33up to the money supply and doing nothing

17:35else. The title number, $1 million, is

17:382/3 of gold. full parody with gold. In

17:40other words, the same total market value

17:42is roughly $1.5 million per Bitcoin. And

17:46if you want the extreme outerbound, here

17:48it is. If gold had continued backing all

17:50of the world's money the way that it did

17:52for most of human history, its market

17:54value today would be somewhere around

17:56$103 trillion instead of 32. That's the

18:00actual size of the job here. The size of

18:02the total addressable market, if you

18:04will. Bitcoin doing that job is around

18:06$5 million per coin. Again, it's not a

18:09forecast. It's just the size of the

18:11addressable role. And rolls do not get

18:13filled overnight or even completely.

18:15What I am telling you is that the

18:16distance between $77,000 and any of the

18:19numbers that I just mentioned to you is

18:21the trade. And the most conservative

18:23one, the boring one, the one that

18:25literally just says Bitcoin catches up

18:27to the money supply and stops is nearly

18:29three times the current price. And let

18:30me give you the honest version, too,

18:32because you shouldn't trust anybody who

18:34only hands you the upside. If the money

18:36supply stops growing, if the deficit

18:38actually closes, if central banks start

18:40selling gold and buying treasuries

18:42again, then I'm wrong about all of this.

18:44Those are the three things that I watch.

18:45If they can actually stop printing

18:47money. As of this morning, all three are

18:49moving harder in the other direction

18:51than they were a year ago. In the year

18:53before that, and a year before that, you

18:55get the picture. So, come back to where

18:57we started. You have 164,000 new Bitcoin

19:00this year against 1.2 trillion new, $7.2

19:04$.2 million of fresh money for every

19:06single Bitcoin that is mined. And that

19:08is only counting America. Worldwide,

19:10that is $65 million. And that ratio gets

19:14worse every single month in your favor

19:17whether anybody knows about it or not.

19:19You are not early because you found

19:21something nobody knows about. Central

19:22banks know about it. Black Rockck knows

19:24about it. The Treasury Secretary said

19:25out loud that the plan is to print more

19:28money in order to fix the debt problem.

19:30you were early to Bitcoin because almost

19:32nobody has done the math. If you want to

19:35understand exactly how the Fed got boxed

19:37into this situation in the first place

19:38and why they cannot fix it even if they

19:40want to, I broke the whole thing down in

19:42my last video and that's where I would

19:44go next. It's the logical next piece to

19:46this one and I'll see you guys over

19:47there. Check out the hard money room at

19:49the link at the top of the video

19:50description. Also, channel members got

19:51this video early, so hit the join button

19:53down below to support the channel and

19:54become a member. And if you haven't

19:56already, subscribe to the channel and

19:57hit the bell to get notified whenever a

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20:00one-on-one session with me at the link

20:01in the video description.