we literally just saw the Sovereign wealth fund of a middle eastern giant with $500 billion worth of GDP just come out and quietly announce that they have bought half a billion dollar worth of bitcoin of course we're talking about the Abu Dhabi Sovereign wealth fund has been exposed for buying 437 Million worth of bitcoin but they're not the only nation state who has a public Bitcoin mining plan that is not only in public but actually aggressively growing so we also know that the hash rate is going absolutely parabolic right now while we have nation states
being exposed and Sovereign wealth funds being stood up all around the world so today I want to really kind of talk about what exactly is going on are we watching the middle easts and their Sovereign wealth fund aggressively accumulate Bitcoin in response to Donald Trump's recent announcement saying hey it's about time America has a sovereign wealth fund because America does have what a $29 trillion GDP and if they do enter The Sovereign wealth fund space is it a stretch to suggest that maybe America might want to compete with some of the other largest Sovereign wealth
funds in the world that are around a trillion dollar in size I mean let's have a look we got the Norway Sovereign wealth fund 1.1 trillion China's got a trillion dollar Sovereign wealth fund the Abu Dhabi investment Authority the one we're just talking about they have $570 billion in their Sovereign wealth fund so a half a billion dollar stake into Bitcoin is not Chum change it's a pretty big investment what do you think we're looking at here Rob in the the realm of the Middle East potentially making a move into Bitcoin and do you think
this is a reaction to Donald Trump announcing his intentions to create a sovereign wealth Fund in America yeah so this word just came out uh this last weekend but they had been purchasing um starting at the end of last year right and so when it comes to $437 million for Abu Dhabi uh actually I would disagree I do think that is chump change I think that this was just them getting their their feet wet um they are testing the market seeing how much um how it moves according to their purchases if they are affecting the
market too much when they buy in and um what it does and so yeah I think this is just the beginning right uh it makes all the sense in the world for these energy rich countries um you we know that Bitcoin is energy money you turn energy into Bitcoin through hash power and as we've seen on the chart that you just showed hash power is going par parabolic and um interesting chart that we put up on bitcoin news X account today Bitcoin hash rate has surged 772 per since China banned Bitcoin mining in September 2021
so that little niche in the graph you see it go down a little bit after 2020 that was the the China ban quote unquote but since then it's gone straight up right and uh as Max Kaiser always says uh bitcoin price follows hash rate and so with this level of hash rate we can expect Bitcoin to rip uh within the next year or so the difficulty adjustments keep going up that means that more and more miners this isn't just the efficiency of the miners themselves um going up over time as technology progresses and these same
one box of a minor can produce more Terra hases no this is um this is a massive industrial uh push around the world to add hash rate to the Bitcoin Network and I think a race to also try to get as much hash rate within your jurisdiction uh as possible so that you have the ability to get into a block uh in a timely order if the world moves into a more contentious stance between nation states now there you make a really interesting point about contentious stance and nation states because we're looking at the chart
of what happens to the hash rate after China bans Bitcoin mining now speaking of of China in the Middle East the parabolic hash rate we're seeing right now I think could have something to do with this headline I pulled up in the background for the first time in a long time these Middle Eastern countries are accepting different forms of currency for payment so Saudi Arabia is considering and accepting Chinese Yuan for dollars uh sorry is accepting Chinese Yuan for oil this is the first time that the Middle Eastern countries have been accepting and open to
accepting currencies outside of the US dollar for what 50 years since the Petro dollar system was created and we do know that Saudi Arabia is not the only Middle Eastern country let's just say having a little bit of a peep at Bitcoin we do know that the National Bank of Bahrain actually made history in late 2024 by becoming and creating the first ever Bitcoin linked product in the GCC that is the gulf cooperation Council so my question to you Rob is is this going to be a broader Trend can these Middle Eastern Giants successfully use
things like Bitcoin mining and this call it what it is Bitcoin exposure through Sovereign wealth funds to escape this Petro dollar system that they have been forced to use and abide by and participate in for the past 50 years yeah I mean you're seeing it I think it was a great great article to bring up um Saudi Arabia's taking youan instead of just dollars right we had a 50-year agreement with them where they would only accept dollars for oil and we would provide them with defense and arms and make sure that that royal family stayed
in power um but now it seems as if they're looking around and seeing what other options are out there and America isn't the only uh big kid on the Block anymore uh China needs a lot of oil we need a lot of oil and the Chinese are willing to pay for it right and so when you're in the Middle East you're sitting on all the energy resources you could ever want or need um and you want to transition out of the fossil fuel industry and more into Tech and um tourism and whatnot I think Bitcoin
mining is a great industry to Pivot into right turn that energy into Bitcoin create Tech jobs and transition into a 21st century economy and so it's not only just the Middle East but also right next to it is is Ethiopia right um right across the the Red Sea there and um what do we see there we saw we saw Ethiopia really gobble up a lot of the miners that were shut down in China in 2021 a lot of them moved to Ethiopia because there's a lot of uh trade connections between the two countries uh they
have great weather and climate and also uh renewable resources our es they have this huge Grand Renaissance Dam that is creating a lot more electricity than they can consume at the moment so Ethiopia is exploding in Bitcoin mining they want to go from 2% of the global hash rate right now up to 5% by the end of the year they want to double the amount of hash rate that they produce um within one year and it's leading to economic growth because these Bitcoin miners are able to provide the infrastructure that is needed to capture the
electricity from this Dam and then spread it out into the country where the funding would not be there if it wasn't for these people coming in with a use for the electricity you make such a great point about Ethiopia I quickly brought up the headline in the background here and Ethiopia a tiny country in Africa accounts for 2.5% of the Bitcoin Network and now this is something I think a lot of people forget Bitcoin is going to benefit these smaller countries because Ethiopia's got a tiny population I mean I mean let's be honest let me
retract that a little bit 126 million people it's not tiny but it's not massive it's not big okay Ethiopia's GDP for example yes it has been growing recently but it's only 160 billion they don't have 2% of the world's people or 2% of the world's GDP but they have already a 2.5% stake in the Bitcoin mining Network so this kind of goes back to the the point we always talk about here on the channel Bitcoin is empowering the little guy Bitcoin is not for the large bloated Western nation states I mean sure these guys are
going to buy Bitcoin don't get me wrong Bitcoin is for everyone Bitcoin is for enemies it's for friends but the Bitcoin monetization phase that I think we're in today Rob that is going to benefit the little guys who can be a lot more Nimble and make these big large strategic investments into to the Bitcoin space yeah I mean perfect example is Bhutan right they got on the Bitcoin mining train early again like Ethiopia using renewable energy specifically the same as Ethiopia Hydro power um they're up by the Himalayas the the water melts in the mountains
it comes down uh and creates a lot of energy and they're able to capture that and plug in some Miners and turn it into Bitcoin and so Bahrain uh was able to uh sorry Bhutan was able to amass 13,000 Bitcoin from their mining operations right silently quietly uh just since around uh around 2018 2019 I think they started a little bit but now it's they're out in public with it and it is huge business there um I think it's roughly a third or a quarter of their GDP they H they hold in Bitcoin um that
they've mined over the last four years and the crazy thing is the fact that they've been doing this Secret this is the beautiful thing about mining Bitcoin I think this article here sums it up nicely bjan has been secretly mined Bitcoin in the Himalayas for years and you make another great point they own the fourth amount of Bitcoin of any other nation state around the world but they only have 780,000 people it's crazy they don't even have a million people I don't know what the exact maths are maybe someone in the chat can uh you
know do some quick maths and some quick Googling to see how much 780,000 people is of the 8 billion population we'll give a prize to any of the 2,960 of you guys tuning in between YouTube and Twitter who can get that math right first but they certainly are not a big player in the realm of GDP economic might but all of a sudden because they have about half of their GDP invested into Bitcoin they're potentially going to benefit a lot from the monetization of Bitcoin which is just going to be very interesting to see what's
going to happen with the El salvados or the kingdom of the bans all of these very small countries what is going to happen to them or what are they going to look like in 10 or 15 years yeah and I mean this is a a historically poor country right that had actually forsaken the metric of GDP and had stead uh measured National success by uh gross happiness uh was their metric that they tried to measure how successful their country was um but and yes and I mean El Salvador is uh they're mining some Bitcoin and
they of course are buying one Bitcoin a day for a strategic Reserve Bhutan is has a much larger mining operation they're accumulating much more I think they've they've over doubled the amount that El Salvador has uh but they're also selling some of it too right um they've sent some to exchanges to of course turn into uh dollars and Fiat to fund the country in different initiatives that they need um but it just goes to show you this is a source of income that they had no access to whatsoever before Bitcoin and they're setting themselves up
to be quite the wealthy Little Kingdom uh come the next following decades I typically I 100% agree with that and Andy in the chat I think has done some quick maths and he says it's 0.1% is the pop of that the kingdom of bhan owns I think that sounds about right off the top of my head so thank you Andy for doing the maths I think mcloven in the chat also makes a really interesting point Nations getting pillaged by a strong dollar have a need to know it's a great point which nations around the world
have been pillaged the most with inflation over the past three years we're talking about countries like Argentina 250% inflation in 2022 Pakistan 100 plus% inflation turkey 100 plus% inflation per year okay in 2022 and 2023 these countries also have massive Bitcoin adoption rates these countries as mcloven in the chat has said they have a need to know and it's really cool that these countries can get exposure to bitcoin by secretly and quietly mining Bitcoin in the Himalayan Mountains again this is the beautiful thing about Bitcoin Network you can do really cool things like mine Bitcoin
quietly for a long amount of time and nobody would even know so again if you are looking to not just learn more about Bitcoin mining but if you are looking to learn more about Bitcoin overall and just connect with some other great bitcoiners in person we like to always let you guys know about the largest Bitcoin mining conference in the entire world it's happening in about 6 weeks time in Florida of course we're talking about mining disrupts this is happening on March 25th through to March 27th it is yes I didn't stutter the biggest Bitcoin
mining conference in the entire world you're gonna have speakers like Dennis Porter Nico Moran there's going to be a ton of other great speakers there some very popular politicians who may or may not be making announcements again I'm not making any speculations but what I am saying is that politicians typically make some pretty big calls and pretty big announcements at conferences and if you are a politician you'd probably want to do that at the largest Bitcoin mining conference in the entire world so again I want to remind you guys this is happening in about six
weeks get your tickets while they are still available again a lot of people talk about the future um let's not just talk about it let's actually be a part of this is the beautiful thing about connecting with other bitcoiners at these in-person events so again grab your tickets if you don't have one yet you can get 20% off your tickets if you use a promo code bitcoin news again that is one word bitcoin news grab your tickets at the link Down Below in the description of today's show I am going to try my absolute best
so maybe do a little bit of a border run and get myself to Florida here for this conference that's happening in six weeks uh how about you rob do you have plans to make your way down to uh the largest Bitcoin mining conference in the world happening in Florida in about six weeks time yeah no it's a great one um was there last year it's high energy the people know what they're talking about it's all the industry leaders from the mining pools to the actual mining rig creators um if you're just a solo minor who
wants to get into the game expand their their rigs out a little bit or you're an industry player you have to be there um big announcements as you said are made Senator Ted Cruz was there last time Senator Ted Cruz who says that he's actually addicted to Bitcoin mining himself he loves to check his phone every single morning to see if uh his number has gone up the number of SATs that he's he's found um but yeah as a minor myself it's it's fun a great hobby to get into and there's no better place to
learn than a place like mining disrupt so you're REM mining yourself which means you are potentially contributing to the crazy charts like this one of the Bitcoin hash rate going absolutely parabolic this is the beautiful thing about Bitcoin the beautiful thing about Bitcoin is individuals can get exposure to bitcoin at their home literally mining Bitcoin heating up a hot tub nation states can mine Bitcoin you can do it at any scale whether you're a big guy or a little guy it doesn't matter this is the beautiful thing about Bitcoin Bitcoin is for everyone which is
very different to our current Financial system but again Rob I think we have been chatting here for about 75 minutes there's 3,000 of you guys tuning in so thank you so much to everyone tuning in on this Monday afternoon do you have any final thoughts or final comments on a few of the bigger stories that we've discussed today in this long live stream that you think people should be paying attention to as we move into to the next week yeah I mean I think there's so much going on right now it's sort of hard to
keep track of um we've had 30 States introduce Bitcoin legislation whether it's Bitcoin Str reserves or the right to mine or to run a node um we've got Sovereign weal funds getting in we got America creating its own Sovereign wealth fund we've got hash Ray going through the roof uh this is a really exciting time to be in Bitcoin to understand Bitcoin to help family and friends become a part of it it's uh things move very fast and you want to be allocated uh at the right proportion which is comfortable to you but you want
to be in the game because as we know Fiat money there is uh there is no top to bitcoin because Fiat has no bottom so keep getting your education up keep learning and um stay in Bitcoin for the long term because it's the best for you and your family I think that's a great note to end things on with all that said howdy to you Daniel in the chat and greetings to Johnny Midas the man who's never missed a live stream thank you so much for the 3,094 of you guys tuning in I'm going to
end this one here and you're going to see me and Rob in another live stream in the not too distant future so enjoy the rest of your day go out there and buy some more Bitcoin
