Who Really Understands Bitcoin? Trump, CZ, and the Power Behind Crypto

Summary

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Earn Your Leisure: "Who Really Understands Bitcoin? Trump, CZ, and the Power Behind Crypto"

Hosts: Rashad Bilal & Troy Millings
Date: November 9, 2025

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Episode Overview

In this episode, Rashad Bilal and Troy Millings dig deep into the world of Bitcoin and cryptocurrencies, questioning who truly understands these assets—especially when it comes to high-profile individuals like Donald Trump and Binance's CZ. The conversation explores the intersection of politics, influence, and financial literacy, challenging the perceived competence of powerful decision-makers in crypto. With the usual EYL energy, the hosts reflect on power dynamics, trust in advisors, and the broader implications for regular investors.

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Key Discussion Points & Insights

1. Does Trump Really Understand Bitcoin? [02:31–06:34]

• Trump vs. Kanye: The Information Bubble

  • The hosts compare Trump's relationship with knowledge to that of Kanye West—both rely heavily on information from people around them rather than first-hand expertise.
    • "Trump is actually a lot...he has a lot of similarities to Kanye also...they were saying like, Kanye doesn’t really read a lot. He receives his information from people around him...Trump is the same way." – Host 2 [02:43]
  • Trump’s ability to spin questions and deflect is called out as a political survival skill, rather than genuine understanding.
    • "He’s getting fed a lot of information in very short sound bites...he has no idea what he’s talking about." – Host 2 [03:10]

• Handling the Bitcoin Question

  • Trump’s recent statements on Bitcoin—doubling and even tripling down on “not knowing”—are scrutinized.
  • The hosts suggest this is possibly a legal protection strategy or plausible deniability, especially when vast sums are at play.
    • "That was the first thing I thought: If I deny that I know anything about this...I’m on record. I don’t know, we’re making 8 billion but I’m not really sure what’s happening over there." – Host 1 [05:47]

2. Power, Advisors, and Accountability [05:51–06:34, 11:24–13:47]

• Protection by Proximity to Power

  • Trump’s insulation from repercussions is discussed in a context broader than crypto.
    • "He’s the same guy that said, I can go to Times Square and shoot somebody in the face and get away...There’s no consequences. Who’s gonna hold him in trouble? Nobody." – Host 2 [05:51]

• The Limits of Expertise

  • Many powerful people—including athletes, billionaires, and politicians—don’t genuinely understand the financial systems they're invested in.
    • "Most wealthy people are not fully educated on money at all. That’s why they trust their advisors...owners of sports teams, these are billionaires. They didn’t ask enough questions because they’re trusting [others]." – Host 2 [11:53]
  • The dynamic between understanding, trust, and the leveraging of expert advisors often leads to blind spots or even manipulation.

• Policy Creation Without Understanding

  • The creation of crypto policy positions by individuals who admit ignorance, yet benefit massively, raises concerns.
    • "But there’s also the part where you’re actually creating positions, changing policy, changing legislation to make sure this asset thrives." – Host 1 [12:58]

3. Who Really Knows Bitcoin? [10:18–11:24]

• Superficial Knowledge is Common—even Among Experts

  • The hosts doubt most investors, including decision-makers, could pass a "Bitcoin quiz." Lack of understanding is pervasive, even at the top.
    • "Most people invested in bitcoin would fail a bitcoin quiz. Most people don’t really know what bitcoin [is]. That’s the scary part about it. We don’t even know the founder." – Host 2 [10:42]

• Being "So Smart You're Dumb"

  • A recurring EYL theme: knowledge alone doesn’t equal winning. Sometimes the deployment of capital and trust in others outweighs technical mastery.
    • "There’s something about being...so smart that you’re dumb, right? You’re investing in the asset...the real answer to the quiz is to deploy capital..." – Host 1 [11:24]

4. The Dangers and Truth of Trusted Advisors [13:10–14:13]

• The Money Motive

  • The hosts highlight how wealth networks work: trust, established relationships, and shared wins are sometimes enough to bypass rigorous scrutiny.
    • "I gotta run a sports team, I gotta do this...you can’t be an expert in everything simultaneously." – Host 2 [11:53]

• Policy, Influence, and Personal Interests

  • Advisors shaping decisions based on their own interests is flagged as a moral hazard.
    • "The problem is that the people that he has around him are giving him advice based off of their own personal interest." – Host 2 [12:43]

• Lessons from History

  • Reference is made to past political misjudgments (e.g., George W. Bush, Iraq War) as a parallel to how high-stakes decisions can be made with limited information.

5. Pop Culture Parallels & Personal Reflections [Throughout]

• Personal Experience as Financial Advisors
  • EYL's hosts leverage their own backgrounds to illustrate just how rare true financial understanding is—even in high-net-worth circles.
• Speculative Insight
  • The episode ends on reflective musings about who’s really behind decisions at huge crypto operations like Binance or FTX—and whether those at the top ever really know what's happening at the technical level.

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Notable Quotes

• "Trump is actually a lot...he has a lot of similarities to Kanye also...he receives his information from people around him...Trump is the same way." – Host 2 [02:43]
• "He’s getting fed a lot of information in very short sound bites...he has no idea what he’s talking about." – Host 2 [03:10]
• "If I deny that I know anything about this...I’m on record. I don’t know, we're making 8 billion but I’m not really sure what’s happening over there." – Host 1 [05:47]
• "He’s the same guy that said, I can go to Times Square and shoot somebody in the face and get away...There’s no consequences." – Host 2 [05:51]
• "Most people invested in bitcoin would fill a bitcoin quiz. Most people don’t really know what bitcoin. That’s the scary part about it. We don’t even know the founder." – Host 2 [10:42]
• "Most wealthy people are not fully educated on money at all. That’s why they trust their advisors." – Host 2 [11:53]
• "The problem is that the people that he has around him are giving him advice based off of their own personal interest." – Host 2 [12:43]

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Highlights by Timestamp

• [02:43] Trump compared to Kanye for their reliance on others for information.
• [03:10] Trump’s ability to repeat only high-level talking points.
• [05:47] Denial as a protective legal strategy.
• [10:42] Most investors and even experts lack real Bitcoin knowledge.
• [11:24] Performance doesn’t always correlate to depth of understanding.
• [11:53] Wealthy entrust financial advisors, often creating blind spots.
• [12:43] The risk when advisors are motivated by self-interest.

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Final Takeaways

• Very few, if any, truly "understand" Bitcoin—power and profits often trump technical knowledge.
• Policy and investment decisions at the highest level are frequently made through a prism of trust, self-protection, and influence — not expertise.
• The Earn Your Leisure hosts urge listeners to be skeptical of the experts and the motivations of those around power, both in crypto and beyond.

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Transcript

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[Host 1]

There then the cost of houses. It did. It did rise for a little bit.

[Host 2]

Yeah, but the thing about Trump too is that he's kind of like Kanye. Because remember I said that Elon Musk is like Kanye.

[Host 1]

You did.

[Host 2]

Trump is actually a lot. He has a lot of Similarities to Kanye also, because remember they were saying, like, when Kanye, Kanye doesn't really read a lot. He receives his information from people around him. That's why he can't really explain things. And Trump is the same way. Like, even if you're watching him yesterday, like he doubled down, you would think by now, the first time he got asked the question, he had time to research who the Binance find the founder was. Oh, yeah, he just doubled that. He said, I only, I don't know.

[Host 1]

He said, I'm gonna tell you something. I, I don't know.

[Host 2]

But. So this goes back to Venezuela, Nigeria, a variety of different things. You could tell that people are telling him things. Yeah, talking, they're telling him high level talking points. They're more than that. He can remember that is easy to repeat. But if you ask him like detailed questions, he has, he has no idea how to actually respond on it. So he's, but he's good at spinning it as far as like brushing it off, deflecting, insulting people. But he, he's, he's, he's getting fed a lot of information in very short sound bites of time that he has actually no idea what he's talking about.

[Host 1]

How much do you believe, like, do you.

[Host 2]

I believe him a lot because when.

[Host 1]

I, when I heard the response, like, I thought he was, I didn't think he was going to double down. He actually tripled down and said, I'm gonna break some news here. I don't know who he is. But then the very next line, I believe was when they asked about bitcoin and he said he's not familiar with it. And then they brought up the fact of his, I mean his, his family's firm has made billions in bitcoin. It was kind of like, I believe him a lot.

[Host 2]

He's 80 years old.

[Host 1]

I don't, I don't, I don't know how much of that is, I feel like was true.

[Host 2]

I think it's a high level. As far as, like, do I think he understands what nodes are and, and the inner workings of the blockchain? No, I don't think, I don't think that, I don't think so at all. I think he knows enough to have people in position. He, because he's, I mean, the guy's busy, right? He's running the country. He's doing real estate. He's running. So it is understandable not to be extremely knowledgeable in a variety of different things. And I don't think he's, I don't think he's knowledgeable on a lot of stuff because you could just. Some stuff you could just. You could just tell that he's not knowledgeable. But he. Like I said, he does a good job at spinning things off. And even when he was like. They came at me, they. They said that I was. And the reporter actually did a terrible job at countering that, because even if you have a low level of education, you. You know, you. He was convicted of 36 felonies. You did get found guilty. You literally on federal wiretap, trying to rig an election. But the way that he was just able to spin it, like, they tried to frame me, and I was completely innocent. And I got off. I'm like, you. How did you get off when you got convicted of 36 felonies?

[Host 1]

Yeah, 30. I think it's 34, but I think. I don't know how it was edited, but I agree with you there. I'm like, wait, no, there's a difference here. You were convicted. I think that. And it might be a strategic way for its own protection. Exactly. When I heard him say that, I'm like, oh, that was the first thing I thought. If I deny that I know anything about this, like, look, I'm on record. I don't know we're making 8 billion, but I'm not really sure what's happening over there.

[Host 2]

Right.

[Host 1]

It's like, almost like, oh, that was per. He just protected himself by saying that.

[Host 2]

I don't even think he's worried about protecting himself. He's the same guy that said, I can go to Times Square and shoot somebody in the face and get away. That was last administration. I mean, everything that he's done, everything that he's done so far, I'm pretty sure he has very little care about protecting himself because, well, he's built the protection around him. There's no consequences. There's not. Who's gonna. Who's gonna hold? Who's gonna tell him you're in trouble? Nobody.

[Host 1]

Because he put them in.

[Host 2]

It's impossible.

[Host 1]

For now. No, I'm saying for now. Right. But his kids will outlive him.

[Host 2]

Right.

[Host 1]

And so, like, could there be charges that are brought allegedly? I'm not saying that they're doing anything fraudulent, but could there be charges in six years or eight years? Right.

[Commercial Narrator]

If.

[Host 1]

If they find something. I think that was like, one of those protective. Man, that's just how I received it. And all I know is, whatever you did with cz, you better not do with sbf. It's not gonna go the same way.

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[Host 2]

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[Host 1]

He's up on that on that council part. He got 30 years. It would look crazy. But what do I know? What do I know? Gotta love investing though. It's interesting, right? Like the guy who creates us, a crypto czar says he knows nothing about bitcoin.

[Host 2]

But that's David Sacks. Like that's what I'm saying. I don't.

[Host 1]

But the position was created.

[Host 2]

Him saying that he knows nothing about bitcoin might not be a lie. It might not be a lot, but. Because relatively speaking you can, I mean no, no, nothing is a, is a, is a vague term, right? Yeah, I think he knows enough to know what bitcoin is. But if he had like there was a bitcoin quiz, I think he would fail. But I think most people invested in bitcoin would fill a bitcoin quiz. Most people don't really know what bitcoin. That's the scary part about it. We don't even know the founder. Like there's so much stuff about this. Like if you had like a, a pop quiz on it, most people that's investing in bitcoin will fail a bitcoin quiz.

[Host 1]

I'm, I'm not even disagreeing with that. I'm just saying to, there's, there's something about being, I don't even want to call it dumb. So smart that you're dumb, right? You're, you're investing in the asset like you're currently investing. I'm gonna say the real answer to the quiz is to deploy capital, right? Like you're all that and you're benefited from it. And it's like knowing the most and deploying the least does not make You a winner. Can you take off for five years?

[Host 2]

Somebody says, right now, look, we got, you know, silver mine in, in Mexico, and it's and is guaranteed to go up 87 every single year. I do a presentation. You got a billion dollars. This I know for a fact because I used to be a financial advisor. So I understand that most wealthy people are not fully educated on money at all. That's why they trust their advisors. That's why they have a financial advisor. That's why somebody like Bernie Madoff could run the biggest Ponzi scheme in the history of the world, Man. These are not just stupid people. These are educated people. This, owners of sports teams, these are billionaires. They didn't ask enough questions because they're trusting this person. Like, yeah, it's like, look, I gotta run a sports team. I gotta do this. I gotta have a legal firm. I. You can't be an expert in everything simultaneously.

[Host 1]

It's tough. Yeah.

[Host 2]

That's why you have trusted advisors around you and you're trusting their advice. The problem is that the people that he has around him are giving him advice based off of their own personal interest.

[Host 1]

That's part of it. I agree with you.

[Host 2]

That's part of it.

[Host 1]

But there's also the part where you're actually creating positions, changing policy, changing legislation to make sure that this asset thrives.

[Host 2]

It's the money. If they come in and say, look, we gonna all, everybody here, we all gonna make a video. Your son, we all gonna make a billion dollars, including yourself. You give us the money, this is how it's gonna work. All we need you.

[Host 1]

And they deliver it.

[Host 2]

All we need you to do is push it through. Push it. I'm not gonna ask a million and one questions. The average person, right? The average person is just like, all right, these are my friends, they're all rich. We have a trust. We've made money together before. I understand enough to understand the play. All right, I'm pushing it through.

[Host 1]

Yeah, but there's an understanding there.

[Host 2]

But that's like, but I mean, George Bush went to war and didn't even understand what he was doing. Yeah, it was, they made him, they made him go to war off of misinformation. He didn't take literally the longest war in the United States history. And they had, they had a five star general get in front of the United nations and completely lie. So, but I think, how far deep the rabbit hole do you want to go?

[Host 1]

I said, no, I agree. I'm saying that it's true. Which is why I think it's like I'm gonna say I know nothing to protect myself. Even though I have an understanding. I think that's true. If it goes right or wrong. Yo, I don't know nothing. Yeah, I'm not saying with bitcoin, but with Czech, I think he's. And who knows? Jake, 1090. Jake, go pull up CZ paperwork and see what. Yeah, because that was even with buying we. I mean, maybe that's another stop. But like that. All right? Because I had finance before there was a U S binance. And I'm like, yo, what? Huh? Another time. Yeah, another time.

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[Host 2]

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