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

In this clip of Market Mondays, Rashad Bilal and Troy Millings dive deep into the world of crypto, power, and politics. Starting with a comparison between Trump, Kanye, and Elon Musk, the conversation quickly explores how influential figures often rely on high-level advisors and sound bites rather than in-depth knowledge. Rashad Bilal shares insights into Trump’s handling of crypto topics like Bitcoin and Binance, revealing how the former president deflects detailed questions and spins challenges to his advantage. Troy Millings joins in to discuss the reality that many investors—even billionaires—often lack real understanding of their assets, highlighting that deploying capital can matter more than mastering every technical detail. The clip further unpacks why those in positions of power, from political leaders to sports team owners, trust advisors and how this dynamic has led to financial scandals like Bernie Madoff’s Ponzi scheme. Together, the hosts reflect on policy decisions, protecting oneself with plausible deniability, and the strategic ignorance at the highest levels of business and government. They talk about the murky origins of Bitcoin and how most people, including major investors and leaders, would probably fail a Bitcoin quiz. The discussion closes with reflections on how misinformation and trusted circles shape decision-making in finance and politics—raising important questions about who actually holds knowledge and power in the markets. Whether you’re curious about how world leaders handle crypto, or want to understand the dynamic between knowledge and investing, this Market Mondays clip is a must-watch! **Hashtags:** #MarketMondays #CryptoTalk #Bitcoin #Investing #Trump #Binance #FinancialAdvisors #PonziScheme #KanyeWest #ElonMusk #PoliticalPower #BitcoinQuiz #CZ #SamBankmanFried #FinanceDiscussion

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Episode Transcript

Speaker 1 (00:01):
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houses it did rise for a little bit.

Speaker 2 (00:49):
But the thing about Trump too is that he's kind
of like Kanye came. Remember I said that Elon Musk
is like Kanye. Trump is actually a lot he has
a lot of similarities to Kanye. Also, because remember they
were saying, like when Kanye Kan, he 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

(01:11):
first time he got asked the question, he had time
to research who the bid NaNs find out founder was.
He just doubled that.

Speaker 3 (01:17):
He said, I don't know. Say I'm gonna tell you
something I don't know.

Speaker 2 (01:21):
But so this goes back to Venezuela, Nigeria, a variety
of different things. You could tell that people are telling
him things talking They're telling him high level talking points
that he can remember that it's easy to repeat. But
if you ask him like detailed questions, he hasn't. He

(01:42):
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's he's
he's getting fed a lot of information and very short
sound bites that he has actually no idea what he's
talking about.

Speaker 3 (02:01):
How much do you believe? Like do you? I believe
him a lot?

Speaker 1 (02:04):
Because when I when I heard the response, 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 family's firm has made billions in bitcoin.

Speaker 3 (02:24):
It was kind of like, I believe him a lot.
He's eighty years old.

Speaker 2 (02:27):
I don't.

Speaker 3 (02:27):
I don't. I don't know how much of that is
you feel, like, what's true.

Speaker 2 (02:29):
I think it's a high level as far as like
do I think he understands what nodes are and the
inner workings of the blockchain.

Speaker 3 (02:38):
No, I don't think that.

Speaker 2 (02:39):
I don't think so at all. I think he knows
enough to have people in position 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

(03:00):
you could just tell. 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 said that I
was in. The reporter actually did a terrible job at
countering that, because even if you have a low level
of education, you know you he was convicted of thirty

(03:21):
six felonies. He did get found guilty, and you're literally
on federal wire tap trying to rig an election.

Speaker 3 (03:25):
But the way that he was just.

Speaker 2 (03:26):
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? And you got convicted of
thirty six felonies?

Speaker 1 (03:35):
Thirty I think it's thirty four, but I don't know
how it was edited. But I agree with you that.
I'm like, wait, no, there's a difference here. You work convicted.
I think that, and it might be a strategic way
for his own protection. Exactly when I heard him say that,
I'm like, oh, he's the first thing I thought if
I did not that I know anything about this, Like, look,
I'm on record, I don't know. I We're making eight billion,

(03:56):
but I'm not really sure what's happening over there. I
mean right, it's like almost like, oh, that was he
just protected himself by saying that.

Speaker 2 (04:02):
I don't even think he's worrying about protecting him. So
he's the same guy that said I can go to
tom Squad and shoot somebody in the face and get away.
That was last administration. Last 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.

Speaker 3 (04:20):
Well, he's no protection around him. There's no consequences.

Speaker 2 (04:23):
There's not who's gonna who's gonna hold who's gonna tell
him you're in trouble.

Speaker 3 (04:30):
No better they put them in. It's impossible for now.

Speaker 1 (04:32):
No, I'm saying for now, right, but his kids will
outlive him, right, and so like, could there be charges
that are brought allegedly I'm not saying that they're doing
anything fraudulent, but could they be charges in six years
or eight years?

Speaker 3 (04:45):
Right if if.

Speaker 1 (04:46):
They find something that I think that was like one
of those protective man That's just how I perceived it.

Speaker 4 (04:51):
And all I know is whatever you did was CZ
you better not do with SBF. It's not gonna go
the same way. He's up on that on that council
part yet thirty years mm hmmm. It would look crazy,
But what do I know? What do I know?

Speaker 1 (05:08):
I think it's interesting right, Like the guy who creates
us uh A cryptos are says he knows nothing about bigcoin.

Speaker 2 (05:17):
But that's David, Like, that's what I'm saying. But the
position was him saying he knows nothing about bitcoin might
not be a lie.

Speaker 3 (05:24):
It might not be a.

Speaker 2 (05:25):
Lie, but because relatively speaking, you could, I mean, no, no,
nothing is a is a is a vague term, right.
I think he knows enough to know what bigcoin is.
But if he had, like there was a big cooin quiz,
I think he would fail. But I think most people
invested in bitcoin would fail a biitcoin quiz. Most people
don't really know what bigcoin. That's the scary part about

(05:46):
it because we don't even know the founder. Like there's
there's so much stuff about this, Like if you had
like a pop quiz on, most people that's investing in
bitcoin will fail a bitcoin quiz.

Speaker 3 (06:03):
I'm not even disagreeing with that. I'm just saying, too.

Speaker 1 (06:08):
Did There's there's something about being I don't want to
call it dumb, so smart that you're done right, You're
you're investing in the asset like you're currently.

Speaker 4 (06:17):
I'm gonna say the real answer to the quiz is
to deploy capital right like you're all that ship and
no your benefiting from it. And it's like knowing the
most and deploying the least does not make you a winner.

Speaker 2 (06:29):
Canbody Somebody says right now, look, we got you know,
silver mine in Mexico and it's and it's guaranteed to
go up eighty seven percent every single year a presentation.
You got a billion dollars. Just I know for a
fact because I used to be a financial advisor, so

(06:50):
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 madeoff to run the biggest Ponzi scheme in
the history of the world. He's not just stupid people.
These are educated people. The owners of sports teams, these billionaires.
They didn't ask enough questions because they're trusting this person.

(07:13):
It's like, look, I gotta run a sports team, I
gotta do this, I gotta have a legal firm. You
can't be an expert in everything simultaneously.

Speaker 3 (07:20):
It's tough.

Speaker 2 (07:21):
That's why you have trusted advisors around you, and you're
trusting the advice The problem is that the people that
he has around him are giving him advice based off
of their own personal interest.

Speaker 3 (07:35):
That's part of it. I agree with you, that's part
of it.

Speaker 1 (07:37):
But there's also the part where you're actually creating positions,
changing policy, changing legislation to make sure that this asset thrives.

Speaker 3 (07:48):
It's the money.

Speaker 2 (07:50):
If they come and say, look, we got all everybody here, we're.

Speaker 3 (07:53):
All gonna make a billion.

Speaker 2 (07:55):
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 deliver it. All we need you
to do is push it through. I'm not going to
ask a million and one questions you would. I'm just
saying as an average person, right, the average person is
just like, all right, these are my friends. They're all rich,

(08:17):
we have a trust, we've made money together before. I
understand enough to understand the play. All right, I'm pushing
it through.

Speaker 3 (08:26):
But there's an understanding that.

Speaker 2 (08:27):
But that's like, but I mean, George Bush went to
war and didn't even understand what he was doing.

Speaker 3 (08:33):
Made him.

Speaker 2 (08:33):
They made him go to war off of misinformation. He
didn't 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.

Speaker 3 (08:48):
So to me, but I think, how far I deep
the rabbit hole? Do you want to go? I said, no,
I agree.

Speaker 1 (08:53):
I'm saying that is true, which is why I think
it's like I'm gonna say I know nothing to protect
myself even though.

Speaker 3 (08:58):
I haven't understand it. I think that's true if it
goes right or wrong. Yeah, I don't know nothing. I'm
not saying. But with CZ, I think he's and who knows?

Speaker 4 (09:09):
Uh, Jake, Jake, go pull up cz paperwork and see
what because even with we, I mean maybe that's another stop.

Speaker 1 (09:16):
But like that, I had Binance before there was a
US Binance and I'm like, Yo, what huh?

Speaker 3 (09:24):
They that another time? Yeah? Another time? Earners, what's up?

Speaker 1 (09:30):
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