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Gary Cardone: Why Bitcoin Will Hit $1M: Gary Cardone Explains | DSH #1459
00:54:42
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- [00:00]
Gary Cardone
Super rich. Diversifying. In fact, Warren Buffett was so smart, along with his buddy Bill Gates. Warren taught Bill out of diversifying out of Microsoft. If he wouldn't have done that, he would be the richest guy in the world. Now that's interesting.
- [00:18]
Sean Kelly
That is interesting.
- [00:19]
Gary Cardone
Okay. They literally, he literally talked.
- [00:27]
Unknown Speaker
Summit. Thanks for coming, man.
- [00:28]
Gary Cardone
Yeah, good to be here.
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Unknown Speaker
What are you looking to get out of this event?
- [00:32]
Gary Cardone
Just meet an awesome human being like you. If I can meet one awesome human being a year, it's awesome.
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Unknown Speaker
Let's go. Bitcoin just hit a deal. Bitcoin just hit an all time high yesterday.
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Gary Cardone
Speaking of all time friends. Great, great friends to meet or bitcoin. Bitcoin's a very interesting industry I think that people are waking up to.
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Unknown Speaker
You've been in it for a while, right?
- [00:50]
Gary Cardone
I've been, I've been studying it since 16. Uh, did not have the courage to go into it in 16. Uh, said don't want anybody to think that I bought 700, $800 bitcoin. I wished it would have been pitched to me differently. Had it been pitched to me correctly, I would have most certainly gone in. But I was involved in a really large business, so I had my attention on something else.
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Unknown Speaker
Right.
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Gary Cardone
In 2018, I started buying some. And in 2020, um, it's funny, you know, I have to make an investment in a space, whether that's a girlfriend or a business or an investment opportunity. I have to put some money on the table to get interested. Just I like, I like having a little steak. Like I show up here, I do a podcast with you, right? I make the commitment first. And so I bought a little bitcoin. And the more I studied it, the more I started looking at all the plumbing from my energy background and my payments background and realized that we are moving into what I call the digitization of Earth. Planet Earth. The entire planet is going to be digitized. There will be a day where I am no longer allowed on the highways driving my little analog because I'll become the variable right there. Just becomes I'm not going to go back and listen to vinyl records and only be able to carry 12 songs with me in a big briefcase. So information's being compressed. We're moving through, you know, a technological revolution, very similar, I think, to discovering fire. And then we discovered wood, and then we discovered coal, and then we discovered natural gas, and then we discovered nuclear. And we're just making this really heavy duty technological progression where money that moves really slowly and never settles is going to be Like a stone wheel driving down the Tampa highway. Right. The wheel definitely does turn. It does turn. It works. But it's going to crush quite a few nice vehicles in space. And they're EVs. They're doing their job right. So it's just. This is just about a revolution of change and to not see this many, many people will be left behind in this opportunity. And many people, guys like me are having an opportunity, another opportunity to make life changing extremely powerful. And monetary pivot like a change that's really substantial. Life, farming, legacy changing gonna most certainly gonna alter the trajectory of the cardone name. My brother's plowing into this thing now. So heavy.
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Unknown Speaker
Yeah.
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Gary Cardone
And every smart businessman will plow into bitcoin very heavily once they understand what bitcoin really is. It's. It's.
- [03:56]
Unknown Speaker
Do you have faith in the dollar at all? The US dollar.
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Gary Cardone
Relative to what other currencies?
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Unknown Speaker
I guess to.
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Gary Cardone
To the Chinese one. Sure. To the euro which is like a complete trap. The euro I. The. The dollar is going to survive. I do not think bitcoin is. Bitcoin is not going to harm anything that's strong. Bitcoin doesn't attack strong players if you're. If bitcoin is not a threat to anything other than those in the middle who are extracting value for doing nothing. And many times you're extracting value because the system is broken. Literally. The plumbing problems of moving money very, very rapidly is the problem. They're making fees that way. Bitcoin will is like GRA is like mercury. It's going to seek out in just like AI is. I think AI people thought, oh, AI is going to replace the burger flipper.
- [04:56]
Unknown Speaker
Right.
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Gary Cardone
My next surgery is going to be done by robot folks.
- [05:00]
Sean Kelly
All right, guys, Sean Kelly here, host of the Digital Social hour podcast, just filmed 33amazing episodes at Student Action Summit. Shout out to Code Health, you know, sponsor these episodes. But also I took them before filming each day. Felt amazing. Just filmed 20 episodes straight and I'm not even tired, honestly. So Code Health, amazing products. I also take these at home, especially when I traveled. I used to get sick every time I flew and I started taking that first time I haven't had a runny nose.
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Unknown Speaker
Knock on wood.
- [05:27]
Sean Kelly
One standout element.
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Unknown Speaker
I mean it's so easy.
- [05:29]
Sean Kelly
You know, you got the travel pack here, but you could just take this, fit it in your pocket if you need to. Also all natural, like only saline solution in there so you don't got to worry about any crazy side effects or anything. Yeah, Code's unique. With supplements, there's a lot of who knows what's in these, those ingredients. Code Health, I haven't seen much like this where it's just based off, you know, the code, the codes that are in the saline solution. So I would say they're very unique. It's going to be the future of health and medicine. Code Health has been awesome.
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Gary Cardone
Feel the drop and go code yourself.
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Unknown Speaker
Peace.
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Gary Cardone
I am not. Hey, I'm. I don't want human error risk. I want the robot to do the surgery. See? See, that's it. I don't want any human era. I can invest in Bitcoin now. I have no 401k exposure. I have no SEC exposure. I have no letters that can come to me about. Your CEO just got shot. Oh, he died in an airplane. He's had an affair. He. At the Epstein Island. Whatever. I have none of that with Bitcoin. Right. And Bitcoin is literally just looking for avenues in the marketplaces where there is either an arbitrage, an arbitrage is, hey, let me exploit this big gap that's just sitting there. Right, Right. And. Or it's going to exploit the gaps that are just grossly inefficient. Like 20 and 30% credit card processing for digital assets. That's crazy. Right? People are literally paying. Merchants are paying 15 to 20% fully loaded chargeback management fees, refunds. All those fees are starting to cost the merchant. The merchant now is no longer very competitive. Why? Because Amazon can take all these losses. They don't care. Visa, MasterCard. Do not treat Amazon the way, the same way they treat your merchant process. You make a few mistakes on your merchant processing, your banking is shut down, done history. If you try to go get multiple banks, they then claim that you're filing multiple bank charters and doing odd things and you have llc. But in fact, all of these people are doing workarounds to work around all the rules that were built in the 70s, 80s and 90s, never anticipating an anonymous marketplace where people are buying and selling between each other, services and products. And they, they have. The zip codes are a thousand miles away from each other. There's distributors in between vendors. So it's. This is what happens when you, when, when you open the pipes to the whole world and people begin doing commerce between each other.
- [08:08]
Unknown Speaker
Right.
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Gary Cardone
We most certainly need a neutral currency. Think of Bitcoin in Switzerland. Switzerland did pretty well for a long, long time. If you think we're digitizing, there is only one neutral. So if, if money's Going to be moved between poly markets. Now that we're not globalizing, then where are they going to trade? 1 to Euros, Euros to dollars. But there is no neutral. All these people are going to be playing games with their currency. Right. We know that because you can't. I would play games with my currency also if I was in control of it. But it's natural. Right. If you could manage your time and go, hey, I'm a steal time from that guy over there and grab it for myself, you most certainly would do it.
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Unknown Speaker
Yeah, right.
- [08:53]
Gary Cardone
If you're late for an important meeting, I'm a grab an hour. I'll give it back to him later. You start manipulating things that cannot happen with bitcoin, which is really fascinating. Yeah.
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Unknown Speaker
Because actual currencies are manipulated. Like that's been proven always.
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Gary Cardone
Because they can be, right? They can be. And if they can be, they will be.
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Unknown Speaker
Yeah.
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Gary Cardone
Because it's the easiest thing. It's, it's very much like heroin. Okay. I mean you're not going to leave a heroin addict with a bunch of heroin in the bedroom and then go, hey, I'm going to trust that you're not going to use this. He probably won't use it in the first hour. But when the pain gets big enough and bad enough, it's only the heroin that's going to stop the pain.
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Unknown Speaker
Right.
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Gary Cardone
The currency is, hey, let me flood this market with enough juice that everybody gets calm. And that's going to be $1,000 a month or $1,000 a quarter. Here's your, your, your S and P program. We're going to everybody has a baby. We're going to give you $1,000 with S& P. What they should have done during COVID PPP loans. Twelve hundred dollars each. Twelve hundred dollars in bitcoin. Don't sell it at twelve hundred dollars in bitcoin. Would have been was priced at around 8.
- [10:01]
Sean Kelly
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- [12:06]
Gary Cardone
Seven to eight thousand dollars. Okay, that today would be worth six or seven thousand dollars and growing from the twelve hundred dollars. And it would have taught people how to save and invest. We do not. This country does nothing to teach people how to invest their money. Nothing. They don't teach you that the escalator does this as you get older. The escalator of inflation does this to you. And you're getting older, so it's getting more and more difficult. You have less and less energy.
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Unknown Speaker
Right?
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Gary Cardone
Right. And if it keeps doing this, Companies cannot grow 10% a year, every year, every year, every year, sooner or later, you follow. You can't make that number.
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Unknown Speaker
Right.
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Gary Cardone
And bitcoin is allowing me to almost defy gravity. It's because I'm not having a race in every race. I'm not having to get in every race. You young guys, you're like, okay, where's the next lane I can get in? Man, You're. You're running in this lane, but you're also looking for another lane to, like, you know. Really? What's the word for leapfrog?
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Unknown Speaker
We want that quick money. Yeah, yeah.
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Gary Cardone
You want to leapfrog, which is smart, but you can leap from one problem to another problem to another problem and never make any progress.
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Unknown Speaker
Yeah. That mindset of the younger guys, they want instant gratification, fast money. I don't know if that works.
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Gary Cardone
It works for very few. Just. Just found three people who've made enormous amounts of wealth and retained it in a very sharp.
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Unknown Speaker
That's the key word. Retain it.
- [13:39]
Gary Cardone
Retain. Let's go to Vegas. Let's go to Tampa. I can make a lot of money in an hour. Can I keep it? Can I walk out the door with it? Okay. Having paper profits. Like, I'm up 400% this year on my bitcoin. Damn, it is paper. I haven't liquidated this. It's just a piece of paper right now. It's not real. Okay? My cost base is real. And my continued decision to buy bitcoin every month is real, irrespective of the price. This has proven to be for four years. In fact, this has proven to be for 16 years. A brilliant strategy.
- [14:19]
Unknown Speaker
Do you have an exit price in mind?
- [14:22]
Gary Cardone
I don't have an exit price in mind. I have a duration term. Okay. I think in terms of. And there is no. If you go into an investment portfolio with my brother, for instance, on. On apartments. I know you've interviewed him before. You will sign a document that says you're in this deal for 10 years, and he has the ability to extend it for 10. Every. I built five or six different businesses. Every one of them have taken me no less than seven years, and one of them's going on 16 now. I still haven't been able to get completely out of the dealer. So owning building companies, which every one of you guys want to do. Everyone.
- [15:01]
Sean Kelly
I hope you guys are enjoying the show. Please don't forget to like and subscribe. It helps the show a lot with the algorithm. Thank you.
- [15:07]
Gary Cardone
Your buddies. I want to be the CEO. I want to be the chairman of the board. I want to own my own business. That's cool. But understand, you will be broke for seven or eight years. Completely broke. You will be grossly underpaid relative to what you could probably get a job for me for.
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Unknown Speaker
Right.
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Gary Cardone
And then if you're 1/10 of 1% of the successful people that build on. Build businesses which are less than NBA basketball players. You would be more likely to become a football player, dude, with your little skinny top, then becoming a 1 and 100 entrepreneur, that makes $50 million. So the odds are really, really low. I now look at Dick. And why are the odds low? Because human error is so high, right? Okay, you're held 28. You're 28 at 32. You'll meet a girl, your agendas will change. Her agenda changes. Maybe you get sick. Maybe you make a lot of money and you're like, bro, this is enough for me. And you and I partner, and we partner for 10 years. I partnered to do a billion. You're like, I'm good with 100 million, and then you're out. Okay, well, now I have a problem because I involve myself with another human being. Whereas bitcoin, I don't have a HR department. I don't know how many you guys love that HR department. Okay? I don't have any salesmen that want continued expansion of bonuses. They got to tell me how great they are. I have hardly a secretary. I don't have any legal documents. No one sends me an NDA to sign. No one sends me this big farm. I don't have to hire a lawyer. Every time I look at a deal, I got to hire a lawyer. And I have an asset I can invest in. I own real estate. I own private equity. I own energy. And I look at bitcoin and I have no exposure to this whatsoever. This. This is a unique opportunity of no exposure. I must look at this. And my. Now my life has been looking at new things. I love looking at new things. It keeps me very young. I've been in four or five industries. I'm an example for you young guys. You do not need to get stuck in an industry. Okay? I have expertise in crypto. I. In four years, I have shown. I mean, one thing I am really good at is action. The card owns are good at action. And I met a guy that was very, very deep in the crypto space three or four years ago. He said, what are you going to do here? I said, I will in two years know every swinging dick in the crypto world. And I know everybody. I got like, it's a cool industry because. And there are jobs here. This is not just about bitcoin. I know guys your age being offered jobs at bitcoin. Strategic corporate reserve companies. 200 large a year.
- [17:57]
Unknown Speaker
Wow, okay.
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Gary Cardone
And they were doing podcasts and they started studying all the funds and bitcoin they know enough to communicate and articulate this subject matter, and they now are having. Natalie Burnell just got a role at similar.
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Unknown Speaker
Wow.
- [18:15]
Gary Cardone
Joe Burnett. Awesome young man. Right? Does the podcast puts the orange tie on. He's got a role at a company and we're going to see. I've been saying for three years, this is a industry. There will be millions of people employed here, and we do not care if you have a resume. We don't care if you have a college education. In fact, I would prefer you not to.
- [18:39]
Unknown Speaker
You're not brainwashed.
- [18:40]
Gary Cardone
All we need is that you had good parents. They taught you some good ethics and responsibility. You know how to show up early and you know how to stay late, and you know how to ask questions and learn with a big old smile on your face. Unbelievable opportunity.
- [18:54]
Unknown Speaker
Yeah.
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Gary Cardone
You're looking at a guy who, had I not ended up at the right platform and then been willing to leave and go to the. For the right platform for Gary's personality, I would literally have been nothing. But I found the right platform and they. It allowed me to be like, I found my little. What I'm really good at. Most people just don't spend. They spend time. You spend more time looking for a girlfriend than you do looking for yourself.
- [19:22]
Unknown Speaker
Facts.
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Gary Cardone
Once you look for yourself, man. Okay. I really wish that I would have listened to people, like, I got married when I was, I think your age. I should not have gotten married. I got socially pressured into getting married. People were going, hey, man, are you gay? I'm like, I'm not gay, dude. I just. I just, you know, I don't let social pressure mess you around, man. Listen to people that. Listen to people you respect. Okay? Like. And that you can take home to your parents, right? Like. Like, you can't just be, oh, wow, that criminal. Okay, that guy. That guy. People. People about CZ at Binance. Yeah. I don't know one human being that's gotten rugged by finance. He looks like a very legit guy. Works. Worked his ass off. There are a lot of very impressive, impressive personalities in this industry. And the key for you guys is if you try to get into the energy business, one, you don't have enough money. Two, it'll take you three or four years to get real meetings. In the payments industry. I was spending $12 million a year with one of the card payment companies.
- [20:29]
Unknown Speaker
Geez.
- [20:30]
Gary Cardone
I couldn't get a meeting with the CEO if I paid them.
- [20:33]
Unknown Speaker
Wow.
- [20:33]
Gary Cardone
In this industry. Call Mike Novogratz up. Hey, Mike. Or email Mike. I like, I'M coming to New York. Would like to see. No problem, Gary, Come on in. We'll have done it. He doesn't even know me. I've never been told no in this industry.
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Unknown Speaker
Wow.
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Gary Cardone
You give me an open door. Knock, knock. What do you do? How can I help you? Oh, there's a gap. I can help you with this gap, sir. My God, man. Like, why wouldn't you want to plow yourself right into this space? And this is coming from a guy that's like, I've been in the largest industries in the world and this is. This will not be true. In three years. You will not be able to call the CEO of Nydig like to have a meeting. Now. I have a bit of a reputation. I haven't blown my reputation, but it's not easy to get these meetings. And when you can, there will be a day when this door is not open to everybody. There's just zero blocks. Because this industry wants to learn from other people. This is a very progressive ideas industry. Hey, how do we. The enemy is out there everywhere. It's. Yeah. Literally inefficiency.
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Unknown Speaker
How many banks shut you down when you got in the crypto space?
- [21:51]
Gary Cardone
No, banks shut me down.
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Unknown Speaker
Really.
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Gary Cardone
I've had more problems in the legacy banking. So the. One of the businesses I built was chargebacks. 911 is a fraud solution for merchants online. And 600 million chargeback disputes a year. 600 million, okay. That's a fraudulent, massive problem problem. And the funny thing is, if Visa, MasterCard really wanted to solve it, if the FTC wanted to solve this, they could literally make four phone calls. I've told them exactly who to call. And it would go away. Half of it would go away.
- [22:23]
Unknown Speaker
So out of 600 million, what percentage of those are actually fraud, you think?
- [22:26]
Gary Cardone
Less than half.
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Unknown Speaker
Okay. That's still a good amount, though. That's a lot.
- [22:30]
Gary Cardone
Way less than half. Most of it's plumbing problems.
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Unknown Speaker
Plumbing problems?
- [22:33]
Gary Cardone
Yeah. Or cyber theft by consumer alcohol. Consumers buying something, buy some shoes, wears them out on a Saturday night and then Sunday calls in for the refund calls.
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Unknown Speaker
On Amex, you win every chargeback.
- [22:44]
Gary Cardone
Amex. Amex. Amex. Because they're closed loop. They. They have both sides of the chargeback.
- [22:50]
Unknown Speaker
Yeah.
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Gary Cardone
It's a very much more difficult to file a chargeback, an illicit chargeback on American Express. The funny thing about chargebacks is the payments world is a very large world. It's the entire planet.
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Unknown Speaker
Yeah.
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Gary Cardone
Visa. The chargeback problem is only apparent and consistent and persistent and growing under chargeback. Under Visa. Mastercard logos. Really, it is only in that ecosphere where you have this problem. And financial cannot even come into the United States because they have no mechanism for the chargeback protection. And the chargeback protection itself is a way to keep the monopoly or the duopoly in place. And it. And it's going to be destroyed by crypto. Damn, they're making so much. They're making 8 to 12 billion dollars a year from this problem.
- [23:36]
Unknown Speaker
Holy crap.
- [23:37]
Gary Cardone
Collectively, 20 and 30% of their total margins are made from value added services. Has nothing to do with credit card process.
- [23:45]
Unknown Speaker
Not.
- [23:46]
Gary Cardone
It's literally fees from the plumbing and all that's going to move. These fees are getting so high now up. An adult guy, dating guy, gaming guy, a gambler is paying 20% of his ticket.
- [24:00]
Unknown Speaker
That's insane.
- [24:00]
Gary Cardone
Okay, so $100 ticket. Wow. You're paying 20 bucks. Google right now. If you do a release on this thing and you do Google and somebody sends you 200 bucks because it was a good interview, they're going to take 33%.
- [24:13]
Unknown Speaker
Jeez.
- [24:14]
Gary Cardone
Now that if you guys all in political, all you guys are Republicans. Hey, maybe we need to tell Google you're a utility dude. You cannot charge 33 cents on the dollar every time somebody gets a tip. I mean, that's heinous. If Exxon did that, what would we be doing? Rioting in the street. Yeah, riding in the street, man. What if, what if Visa added a zero to their rates? They're right now they're at three and a half when we're bitching. Three, 30%. Okay, like I, I've stopped. I asked no one to send me money. Do not send me Fiat through Google. I don't want them, I don't want them to prosper more from that. This is a utility now. It should be a highway, man. It should be like, oh, they get two cents for it, two cents for whatever the, the freaking tip is. It's just $33.
- [25:08]
Unknown Speaker
I've probably lost millions on fees now that I think about it.
- [25:10]
Gary Cardone
Oh, for sure.
- [25:12]
Unknown Speaker
Because I take card payments and it's three and a half percent plus the chargebacks and everything.
- [25:16]
Gary Cardone
Yeah, for sure.
- [25:17]
Unknown Speaker
Nuts. I just got my Gemini credit card. Crypto companies are launching credit cards now.
- [25:21]
Gary Cardone
That's right.
- [25:21]
Unknown Speaker
4% cash back in crypto. Load them up pretty good, right?
- [25:24]
Gary Cardone
Yeah. Now, so, so where are you in your bitcoin journey?
- [25:27]
Unknown Speaker
So I have five bitcoin, I have a lot of Ethereum, a lot of Solana. Yeah, Crypto changed my life. I became a millionaire off crypto well done, man.
- [25:36]
Gary Cardone
I mean, that's.
- [25:37]
Unknown Speaker
Crypto's changed my life, dude.
- [25:38]
Gary Cardone
You guys need to listen to this guy. Okay?
- [25:40]
Unknown Speaker
Yeah.
- [25:40]
Gary Cardone
Have you sold? What mistakes have you made with selling?
- [25:43]
Unknown Speaker
Yeah, that's my big if I didn't sell. I mean, we could all say this, but I needed some liquid at the time to buy the house. But yeah, sold pretty.
- [25:50]
Gary Cardone
Buying the house was.
- [25:51]
Unknown Speaker
Yeah.
- [25:51]
Gary Cardone
Mistake.
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Unknown Speaker
It was.
- [25:52]
Gary Cardone
But it's good that you can have that. It's. It's a bad investment.
- [25:56]
Unknown Speaker
8% interest.
- [25:57]
Gary Cardone
Yeah.
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Unknown Speaker
On a $2 million house. It's a lot of money.
- [26:01]
Gary Cardone
Yeah. Well, the real interest is. When'd you buy it?
- [26:04]
Unknown Speaker
Last year.
- [26:05]
Gary Cardone
Yeah, well, the real interest is the 40% that you left behind on bitcoin.
- [26:09]
Unknown Speaker
Exactly.
- [26:10]
Gary Cardone
Yeah. So it's 48. And the 8% is just going to keep doing that every month and so is the bitcoin. So you're going to get Roger to death. You're going to be at 8 and then you're going to be probably, I think bitcoin goes up. I mean, if I came to you and said, hey, Look, I'll do 20 years with you, I'll guarantee a 12% interest rate. Would you do that?
- [26:30]
Unknown Speaker
Yeah.
- [26:30]
Gary Cardone
12% rich. Yeah. Every two and a half years. Your money would double it at 12. Bitcoin will do 23 plus percent a year. A year for the next 10 to 15 years.
- [26:41]
Unknown Speaker
You're that, you're that confident?
- [26:42]
Gary Cardone
Dude, 86% of my net worth is in bitcoin. Damn. Okay. And I, I actually own. I would go to Grant tomorrow. I've got, I don't know, I'm in three or four or five funds with Grant.
- [26:53]
Unknown Speaker
Yeah.
- [26:54]
Gary Cardone
I would take a discount.
- [26:56]
Unknown Speaker
You would get out and put in bitcoin?
- [26:57]
Gary Cardone
Yeah. And I like, I mean, listen, he's paid me. I get paid every month, 40 or 50, 60 grand a year. A month. Been a great. It's a zero hassle, no problems. But with that investment, I can't, I can't just call him up and go, hey, I want out, man. It's not liquid, it's in a fund. Yeah, can't. With bitcoin, that'd be a two minute walkway.
- [27:18]
Unknown Speaker
Plus you could take a loan out against it.
- [27:19]
Gary Cardone
I wouldn't even have to sell my bitcoin. I could just call Binax or Binance or Coinbase and go, hey man, I got the hundred bitcoin I want. Loan me, loan me $10 million. Loan me a million dollars.
- [27:31]
Unknown Speaker
Right.
- [27:32]
Gary Cardone
And I'm doing that now. I'm borrowing money Below what you're paying for your mortgage, man. Okay, there's going to be a. I told Grant this. I think Grant's really understanding this now. Grant's real estate. Every time he stacks bitcoin into his real estate, he is going to wake up one day and the banks are going to give him cheaper money than the guys that are just stacking fiat into their real estate. They're going to look at the collateral that he's correlated and attached to his real estate and value that collateral more than the real estate itself because of its liquidity capability. It's instant. I can smash. Sell this thing on a Saturday afternoon.
- [28:12]
Unknown Speaker
Crazy.
- [28:12]
Gary Cardone
And. Or I can smash it into your wallet on a Saturday and buy super cheap real estate from you because nobody else can transact on a Saturday except me. That's a big old gap.
- [28:25]
Unknown Speaker
Yeah.
- [28:25]
Gary Cardone
Oh, wow. I bought a company, spent. I think it's $4 million on a Saturday afternoon. Literally bought a company with bitcoin on a Saturday afternoon from five different exchanges. I think that put me in a better position than the guy that was waiting to bid on Monday, Right? Probably the guy on Monday. He'd already missed his target. So the cool thing about bitcoin is that it is a settlement deal. Once I send it to you, we're done. I have no worries about anything that's going to happen after that. It's your problem. And I like that kind of finality. I restructured, along with a hundred different men, the entire energy platform in the United States and Europe. There's no refunds, there's no chargebacks. If a hurricane blows through the Gulf of Mexico, the market now, there's no force majeure. It's like, I bought 400 million barrels of oil. You're showing up with the 400 million barrels of oil, Exxon, because we structure the market correctly. And that's really what bitcoin's doing. It's a restructuring of the market falls.
- [29:36]
Unknown Speaker
So would your advice to younger people, would it be to buy bitcoin before buying a house?
- [29:41]
Gary Cardone
I would never. Buying a house is the worst investment you could possibly make. It is absolutely stupid. And if you. If, if you ever want to do a podcast for your team, I will take you through the numbers. The numbers. And bring your girlfriends and wives. The numbers will rip your face off. No one looks at the numbers. Okay. I've owned. I've got a daughter that's lived in 14 homes. She does not know the difference between renting the ones we rented and the ones we owned.
- [30:12]
Unknown Speaker
Oh, you didn't tell her.
- [30:13]
Gary Cardone
Why? Why would it matter? Did you rent this booth or do you own it? You rented it. You're not or you should be ashamed. You didn't buy this whole convention center so you could do this one hour here. You guys shouldn't be buying cars for $80,000 either. If you make a hundred grand, you cannot afford an eighty thousand dollar car just so that you look like you got a big long. It's stupid. It's stupid, right? Buy an Audi, rent Uber. Buy a shitty truck, man. You don't need to look cool. I got. I could have worn a fancy suit. And I'm going to be just me, just exactly the way I am. I don't need to get myself in leverage to look like Billy. Billy. Most Billy's fail, they end up broke. 98% of the people around you end up broke and unhappy. Okay? They can't even bury themselves. This is America and we can't even bury ourselves. There's very little dignity at the very end. So if you don't think money is important, wealth is. Wealth is like, I'm not a stupid guy. I should have enough power to have a voice that has some weight and meaning behind it, right? You, there's a lot of creation that's coming in your, your generation. You guys need to. You would never go into a war without some Kevlar and a gun. That's exactly what money is. It's Kevlar and a gun. Yeah, it's ammunition. It's energy, it's fuel. I have a very nice car that got me here. If I didn't have any fuel in it, it's useless.
- [31:48]
Unknown Speaker
Right?
- [31:48]
Gary Cardone
Okay. I am the engine and I need fuel in this. You guys are F16s out there and you don't even know what your loading mechanisms are. The weapons, where are the weapons? What's my journey? Where am I going? Oh, I'm going there. No, I'm going there. No, you gotta focus, man. Hone in target track that tremendous lack of focus. Like I people ask me, hey, because I'm not a brilliant guy, people go, how did you accumulate this much success? And it's, dude, I have focus. I mean, I am not smart enough to do three things at one time, but one thing I can do better than most people because I become obsessed. If you could find your obsession, if you can find that obsession has served me extremely well. And I've had so many people, dude, try to walk me off the obsession. Calm it down, make it a little great. No, I'm Crazy dude, I'm crazy good.
- [32:46]
Unknown Speaker
You just gotta channel it in the right way, right?
- [32:49]
Gary Cardone
It has to get focused. And you notice people that are really brilliant, but they're all over the right. Well now you're a liability to everyone, you know, but when you're focused man, it's like, it's hard for you. Like right now it's hard for you to not to cut this interview because you're like, man, this is alpha, like this is really rich data and it is most importantly the most rich data.
- [33:13]
Unknown Speaker
I mean you got me thinking man, because like a lot of people say bitcoin's at all time high right now. And you know what I mean?
- [33:20]
Gary Cardone
Like hit them yesterday 1:18 and they're.
- [33:23]
Unknown Speaker
Saying like, well there's a lot of fear mongering too on the other side of like you're, if you buy now, you'll sell it all.
- [33:27]
Gary Cardone
Yeah, sell it to me. Tell you what, if you're scared when you are going to sell and you're going to sell the hands like me and my buddies, I have so many buddies in this space now, we will, we will buy every fucking piece of bitcoin you sell us and you guys can go buy the XRP and the sleepy days and the DPP and the memes. I am going to get extremely rich bitcoin maxi. I am going to get so stupidly rich. And I don't, I wouldn't really call myself a maxi. The moment this trade no longer offers this asymmetric, you will hear me go, I'm off, I'm out. I'm not a forever guy, okay? I will sell every bitcoin and I will take this money and I will make it, turn it into good for good use. It's the only thing I, I don't need another car, I do not need another watch, I don't need another villa. Don't need another wife. Right? I can only go on so many fancy dinners. Yeah, I don't drink eight thousand dollar bottles of wine, don't care about it. What I don't have is enough high quality friends, high quality mentors, high quality people and teams. I can, hey, let's all go play poker together. You know, when you're rich man, you want other people to be rich around you that are nice so you can go hang out with them. And you, you, you want your buddies doing well. One thing you're gonna find, one of your buddies is gonna do really well and you guys are gonna get a little like, you support him man, okay? Like he's just got there first. It. It doesn't matter. You're not. This is not a race with anyone but yourself, right? It's not a race with anyone else. You can't be me.
- [35:11]
Unknown Speaker
I've seen that jealousy and ego ruin friendships.
- [35:14]
Gary Cardone
Oh, so it ruins the person. It's like the biggest failure people make in business is they don't first look at who they are. Like, you have to inventory yourself. You are the asset, man. Okay. My ability to take action is a superpower of mine. Once I knew that, I realized, oh, other people overthink. Okay? Once I know something, I don't need to keep telling myself over and over why it's real, right? I need to move into freaking action, which is place a bet. Okay? Take action. Say yes. Okay. Like, commit to the date first. Yes, I'll go there with one meeting, and then, okay, I'm going to New York. I committed to a meeting in 10 days. Surround me with 18 other meetings. I just got to get out of thinking and into doing as soon as I do with focus. I don't pull the trigger on the gun unless I got my. I'm not just right. I aim, point a point, aim and.
- [36:22]
Unknown Speaker
And precise your ability to take action. Why do. Why do so many people struggle with that? You think taking action.
- [36:30]
Gary Cardone
Fear. It. It has to be fear. And. And it's interesting because the doubt. So you have a thesis, and the thesis is, she is beautiful. I need to go meet her. What you need to do is bang. You've already made the preeminent decision. She's beautiful. I like her. Now you're going, what am I going to say? No, man, move right now.
- [36:58]
Unknown Speaker
Just.
- [36:59]
Gary Cardone
And then just as soon. Because the more you think about it, you're going to. Well, that isn't really cool. And that now you're, like, spinning down this little story with yourself and you're having a relation. Just go up to her and go, dude, you're so beautiful, I'm scared to say hello to. Right. Hey, Gary, I love the way you think. I'd love to figure out how I could work with you, whatever. But just move into movement really, really rapidly. And as soon as you do that, your confidence is going to grow. Okay? And this is very important on investing. This is why I say I buy once. I say, okay, I'm gonna go buy $10 worth of that because now I have a. I'm in the game. I bought a ticket, right? I don't watch much sports because I don't buy tickets to them, so. Ah, but if I buy a ticket. Okay. I'm gonna watch the game. You know what I'm saying? Yeah. I'm actively, I have, I'm participating now and looking at it from the sidelines. I'm not really in. And I think you need to buy enough to really get your attention. So that one action though, it got me out of. Okay. And hopefully price goes up a little bit or whatever. I have a good experience. I'm not talking about taking blind action and like blowing your legs off, which most many people do on a regular basis, but once you know something, play with it, test it. And that the action of getting in the game gets me over that first fear. Yeah. At first. Hey, when do I walk across the street?
- [38:36]
Unknown Speaker
Yeah.
- [38:36]
Gary Cardone
So when do, when do I tell someone, hey, I think I have some artistic ability. I had to go through this. Hey, I think I have some artistic ability. Well, I can sit there and talk about it. I can go read books on art or I could pick a pencil up and start doing something. Right. Hey, really? Let's go paint and just go do.
- [38:56]
Unknown Speaker
Yeah. Because there's so many people that read books and they don't take any action.
- [39:00]
Gary Cardone
Yeah. Well. And reading is awesome. I. I don't think people read enough, quite frankly.
- [39:04]
Unknown Speaker
Yeah.
- [39:05]
Gary Cardone
I mean, not, not like people. If you want a superpower, read one book a week. One book a week. And start with either Think and Grow Rich by Napoleon Hill or the Greatest Salesman in the World by Og Mandino. And I don't care if you're a salesman or not. Every human being should read the Greatest Salesman in the World by Og Mandino. If you read this book and actually read it and understand it and do it, it will change your life forever.
- [39:34]
Unknown Speaker
Wow.
- [39:35]
Gary Cardone
Forever. There's the one gift book that I. I'm like, man, this book really helped me become me.
- [39:44]
Unknown Speaker
It's about sales.
- [39:45]
Gary Cardone
No, it has nothing to do with sales.
- [39:47]
Unknown Speaker
Wow.
- [39:49]
Gary Cardone
Don't judge a book by its company. Right. Don't. But, but I think people do not. You guys are not reading enough. Learning is not sitting in a spaces and on X listening to so called experts that you don't even know if they're experts. Like, check out your sources really careful. Do not take advice from anyone that doesn't have seniority over you. I do not listen to anyone that don't. Doesn't have more money than me.
- [40:17]
Unknown Speaker
Really?
- [40:19]
Gary Cardone
About money? No chance. Okay. I don't talk to people about relationships who aren't happily married. Like, hello, why would I ask that guy? Right?
- [40:31]
Unknown Speaker
Right.
- [40:35]
Gary Cardone
Yeah. Don't Like, I don't. I have never. I've been married three times. I have never asked my wife about an investment when. I've never married an investment expert. My wife has no clue what I do, and I'm not even gonna ask her. It's none of her business. This is my job for. To take care of the family.
- [40:57]
Unknown Speaker
You don't talk about business at all with your wife?
- [40:59]
Gary Cardone
No.
- [41:00]
Unknown Speaker
Wow.
- [41:00]
Gary Cardone
Never.
- [41:01]
Unknown Speaker
Never totally separated.
- [41:02]
Gary Cardone
Well, I'm not married anymore, but. Oh, yeah. I don't. I don't. I don't like. I don't ask her about her expertise. Okay. I don't interfere with whatever her deal is. If she knows about something else, I don't get into it. So, again, I'm very focused. But I see people going to their parents, asking them for financial advice, and their parents have $70,000 in the bank.
- [41:27]
Unknown Speaker
Yeah.
- [41:27]
Gary Cardone
I'm like, why would you listen to him? Okay. You need to be diversified, son. Oh, really? How'd that work out for you, dad? Because you're broke, dad. Okay? Like, diversity is not the way to make money. It's the way to protect money. People that diversify have lost their conviction on what it is they're doing. And it's okay. Maybe you got lucky. Maybe you're like, hey, I don't want to do this anymore. I don't want to have to have a conviction. I like these games, but some people, they make $100 million. They're like, I'm done, man. I don't want. I'm just going to invest in real estate and do some of this and do. And get my little dividends. That's awesome. But diversification, you cannot show me one human being other than those who inherited it. And I would say they were not diversified. Yeah, they inherited it. They. There is not one story of anyone that got super rich diversifying. In fact, Warren Buffett was so smart, along with his buddy Bill Gates, Warren talk Bill out of diversifying out of Microsoft. If he wouldn't have done that, he would be the richest guy in the world. Now, that's interesting. Is.
- [42:44]
Unknown Speaker
That is interesting.
- [42:45]
Gary Cardone
Okay. They literally. He literally talked Bill into diversifying. Funny, that story, because Warren ended up having 72% of his entire portfolio. Four stocks, really. And everybody thinks Warren's myths to diverse.
- [43:00]
Unknown Speaker
Wow.
- [43:01]
Gary Cardone
Extremely concentrated investor. Extremely concentrated. He. He actually has a good. It's a really good message for. For you guys. He says, hey. He tells his students, think that over your lifetime, you will only ever be able to make 10 investments, 10 decisions in your whole lifetime. If you make three of them. Right. You'll be fine.
- [43:24]
Unknown Speaker
Interesting.
- [43:25]
Gary Cardone
And that is, that is 90% of all the stuff I've done. I shouldn't have done any of it. It was a waste of energy. It was the, the heavy duty stuff. The stuff that could really hold my attention. Every one of. And extreme concentration.
- [43:41]
Unknown Speaker
I like what you said at the very beginning about being a CEO and how hard it is because I think entrepreneurship is glorified these days.
- [43:47]
Gary Cardone
Yeah. One of the hardest things in the world to do. Okay. Like most people are not cut cut out for it. And if they are cut out for it mentally, they're not cut out for it experientially. I was not ready people. Oh, you've been a CEO your whole life? I was extremely immature and until about 34, I was massively ill equipped to be a CEO.
- [44:07]
Unknown Speaker
Wow.
- [44:08]
Gary Cardone
Massively ill equipped.
- [44:10]
Unknown Speaker
34.
- [44:13]
Gary Cardone
Yeah. And I then I was in England for four years too, but I was just immature and I was unskilled in certain areas. I. There's things I didn't know, but I was good at a couple of things and that carried me through making money. I've always been really good at, you know, turning the wheel. But I think, I think the other thing is that I'm a really good CEO. Between like 0 and 100 people, at about 150 people, I become, as soon as HR shows up, I need to leave really. It becomes too programmed and we start settling for the medium. And I actually just want to hang around with champions. I have zero interest in hanging around with mediocrity. I've never been that mediocre guy. I don't want to be the mediocre guy. There's plenty of people that can do accounting better than me and do meetings and speak and do all types of things. I'm good at a few things. And I just think you let your champions go champion. And let the people that serve champions, the followers and the servants. And there's nothing wrong with that, by the way. I was a soldier, warrior, water carrier for many, many years. And then one day you wake up and you go, hey, I'm the chief now, but I know how to carry water too. Like, and, and you would love working for me because you're like, oh, wow, he's been in the trenches, man. Yeah, he knew, he knew the guy's response before I even went to the meeting, Gary was like, oh, I told you that was gonna happen. That's really valuable to have somebody there that's, you know, Empathetic A lot understanding. But also is pushing you. Yeah, I need somebody to push me. Like if left on my own, I.
- [46:02]
Unknown Speaker
Even right now.
- [46:03]
Gary Cardone
Oh. Even today.
- [46:04]
Unknown Speaker
Wow.
- [46:04]
Gary Cardone
Like, I. This lady that's working with me, her job is to push me.
- [46:08]
Unknown Speaker
Wow.
- [46:09]
Gary Cardone
Hey, man, get my schedule. Manage me. Manage me. See? Yeah. I need to be managed. Like.
- [46:16]
Unknown Speaker
Is that a. That's not due to lack of motivation though. What is you think?
- [46:22]
Gary Cardone
I don't. I really don't know what it is other than I know that I need. I work better when I'm in a smaller team and I am managed that I'm more responsible to someone else than I am myself in a way. Interesting problem with guys like me is I have a daughter that's like me and we can make a lot of.
- [46:42]
Unknown Speaker
Mistakes because you're moving so fast.
- [46:45]
Gary Cardone
Well, I can make up for a lot of mistakes.
- [46:49]
Unknown Speaker
Right.
- [46:50]
Gary Cardone
That's the problem. I can catch you up quick. I'm okay with making mistakes because I am really, really comfortable with fixing them. What I'm not comfortable with doing is seeing an opportunity go by. And I didn't. I didn't play with it. That, that, that's really painful for me.
- [47:09]
Unknown Speaker
Right.
- [47:09]
Gary Cardone
Seeing a real. Like seeing bitcoin and not taking a part of this. I couldn't sleep at night.
- [47:15]
Unknown Speaker
Yeah.
- [47:16]
Gary Cardone
I literally would go to sleep every night going, what is wrong with you? Or you. What is wrong with you? You knew this was gonna happen. This is going to become a hundred trillion dollar asset. Damn. In my lifetime.
- [47:29]
Unknown Speaker
That's a 50 extra.
- [47:29]
Gary Cardone
We will hit a million dollars in the next four years.
- [47:32]
Unknown Speaker
No way.
- [47:33]
Gary Cardone
We will be a. We will be a 15 trillion dollar industry within four years.
- [47:43]
Unknown Speaker
Wow.
- [47:43]
Gary Cardone
Which is a little bit less than a million dollars.
- [47:46]
Unknown Speaker
That's nuts, man. That is so nuts. So you're going to become a billionaire.
- [47:49]
Gary Cardone
Oh, yeah. For sure. I think the way Max Kaiser talks about his cotillion air. Cotillion air means you're so close to a new event that, that the shift of power and money changes because you're so close to that innovative moment.
- [48:05]
Unknown Speaker
Yeah.
- [48:05]
Gary Cardone
I think it's an awesome cotillion there. Most certainly the trajectory of the Cardone name because of bitcoin. And I do include my brother. My brother is going to make more money than he's ever made.
- [48:21]
Unknown Speaker
Really More off real estate.
- [48:22]
Gary Cardone
It's gonna. It's gonna blow his mind.
- [48:24]
Unknown Speaker
She became a billionaire of real estate.
- [48:26]
Gary Cardone
It's gonna absolutely blow his mind. Watch what happens.
- [48:28]
Unknown Speaker
Wow.
- [48:29]
Gary Cardone
He will be staggered. And. And this generation of investor that's coming in here, you watch him because he is a subsection. I was before him. I'm always a little, I'm a, I'm a little crazy. Well, I'm not, I'm not very conservative. No, it doesn't mean that I'm crazy. Just means I'm willing to really open my mind up to a lot of different things. And he's like hyper, hyper, hyper focused and he will not lose any money. I mean, he goes to, we go to casino together. He's betting 25 and I'm betting a little bit more than that. But he will he his conviction because of his ability to do this action thing. See. Okay, I'll buy a hundred. Okay, I'll buy 150. Okay, I'll buy a thousand. And as he gets positive feedback from it. Yeah, wow, I like that. I like that. He just keeps going, right? And he starts winding up very fast. He there. These people will not take the time to go. I'm going to check weight back four years. I'm going to deploy 2%. Let's do a chop. Let's do another chunk. Oh, I got a problem over there. Let me solve it with bitcoin. Oh, I have this debt problem over here. Let me solve that with bitcoin. Everything he ends up with will be attached to bitcoin. Damn his 10x medical business. It'll have bitcoin stuck all in it.
- [49:44]
Unknown Speaker
I love that man. Gary, thanks for your time today. I've learned a lot. I'm going to buy some more bitcoin myself. Where can people find you and learn from you? Where can people support you?
- [49:51]
Gary Cardone
Yeah, at Gary Cardone, I do. I do spaces Mondays and Wednesdays. I do some YouTube things on Sundays at 10:30am the thing I do that I'm most proud about, Sunday at 10:30am I know all you guys have great churches and leaders and theologists to go talk to, but I started doing something about a year ago in October. 4,000, 10,000 people show up on a Sunday morning and we do what I call the church of I am because I'm so irritated with all the churches in the world. And it's not a religious thing at all. It's a, it's a get your head wrapped. Get your head right to not only be successful in business, but successful in life.
- [50:35]
Unknown Speaker
Yeah, I love that.
- [50:37]
Gary Cardone
Love to have people there rumble. Twitter X doesn't cost anything. It's when 4,000 people showed up one morning, I'm like, wow, man, well done. No advertising. And it's really the feedback I'm getting from 18 year olds to their dad saying, hey, I'm watching this with my entire family on Sunday. And we're getting better and we're getting richer and we're happier. That's really cool.
- [51:03]
Unknown Speaker
We'll link it below. Thanks for your time, man.
- [51:05]
Gary Cardone
Thank you.
- [51:05]
Unknown Speaker
Yeah. Check it out, guys. Peace.