---
title: 'Saylor: "Everyone Has Been Sold a Lie" on Bitcoin'
source: 'https://youtube.com/watch?v=I2y6CcOiBKk'
video_id: 'I2y6CcOiBKk'
date: 2026-08-06
duration_sec: 589
---

# Saylor: "Everyone Has Been Sold a Lie" on Bitcoin

> Source: [Saylor: "Everyone Has Been Sold a Lie" on Bitcoin](https://youtube.com/watch?v=I2y6CcOiBKk)

## Summary

The video discusses recent developments in the cryptocurrency market, focusing on the Clarity Act's legislative status, institutional moves like BlackRock's tokenization on Solana, security concerns with Coldcard wallets, and Michael Saylor's response to critics. It also touches on Jim Cramer's exit from crypto due to quantum threats and the significance of Bitcoin's 200-week moving average.

### Key Points

- **Legislative clarity as Bitcoin catalyst** [00:01] — The primary driver for Bitcoin's price movement is legislative clarity, specifically the Clarity Act, which has not yet been scheduled for a Senate vote with only three days until recess.
- **White House ethics counter proposal pending** [00:44] — The White House has not responded to the ethics counter proposal from Senators Tillis and Gallego, delaying progress on the Clarity Act.
- **National security argument for crypto regulation** [01:13] — Former US Defense Secretary emphasizes that regulating crypto is a matter of national security to prevent China from dominating the financial system.
- **BlackRock files to tokenize on Solana** [02:36] — BlackRock, managing $15 trillion in assets, has filed to launch tokenized fund shares on Solana, indicating institutional adoption regardless of the Clarity Act's passage.
- **Coldcard wallet vulnerability** [03:44] — Coldcard Bitcoin wallets are being drained, with losses nearing $114 million as a fourth sweep emerges. Researchers note transactions can be unconfirmed, allowing users to rescue funds by paying higher fees.
- **Michael Saylor addresses critics** [05:05] — Saylor clarifies that he has never sold his personal Bitcoin, distinguishing his personal holdings from Strategy's corporate treasury management.
- **Bitcoin's 200-week moving average** [06:46] — Bitcoin is trading near its 200-week moving average, which historically has been a strong buying opportunity for long-term holders (2-4 years).
- **Jim Cramer exits crypto over quantum threat** [07:25] — Jim Cramer announced he is selling all his Bitcoin due to quantum computing threats, citing a conversation with IBM's CEO about a 3-4 year timeline.
- **Quantum threat is overblown** [08:58] — The video argues that quantum threats are meant to scare retail, as updates to the Bitcoin blockchain are easy, and the only risk is Satoshi's coins (5% of supply), which could cause a minor dip.

### Conclusion

The video underscores the importance of legislative clarity for Bitcoin's future, while highlighting institutional moves and security concerns. It also dismisses quantum threats as exaggerated, reinforcing Bitcoin's resilience.

## Transcript

cause Bitcoin to move forward is legislative clarity. >> Big news today for crypto and the real reason Bitcoin has started to pump. assets. >> BlackRock has just filed to tokenize on
Solana and Michael Saylor issues a statement, calls out the liars. >> But Michael Saylor in on X said, "When I say never sell your Bitcoin, I speak as never sold mine." >> Watch today's whole video so you
understand everything because with three days remaining until the Senate goes on recess for a month, the crypto bill, the Clarity Act, has still not been scheduled on the Senate for a vote. The update today is this.
The White House has not responded to ethics counter proposal from Senators Tillis and Gallego sent last Thursday on Clarity Act, meaning after the White House sent an ethics provision to Congress saying this is what we would be
comfortable signing, Congress people, Dems and Republicans, sent something back last Thursday, a counter proposal, and the White House has still not responded. Three days remaining until Senate recess. And regulating crypto is
a matter of national security, says the former US Defense Secretary today regarding the Clarity Act, it must pass. We do not want to be under a system where China determines who has access to it. Let's watch then react.
system, which is built on American rails, so to speak, and which has preserved America's role as being the reserve currency, the currency of settlement, we want to protect that from China or other countries trying to
dominate that. And China indeed is trying to do so, and we don't want to we the Chinese Communist Communist Party determines who can who can access it uh who they they can avoid sanctions, they can avoid supervision. So at this moment
now, we're passed by by 300 votes a year ago, it passed in May out of committee cusp of this. And of course the ethics piece is part of this. It's just a small piece of a 600 plus page bill. Look, my view is
Ethics are incredibly important of course with all government officials, leadership of our country for where we stand going forward. If we're going to dominate and lead in this technology and preserving our financial networks, our
economic strength is we got to get this bill done. And this upcoming week may be lose this moment for another year or two. >> And it's very interesting to notice the institutions who are taking out their
positions, building the plumbing whether or not the Clarity Act passes this year or in two years. BlackRock has just filed to launch tokenized fund shares on Solana. To be clear, they're launching on ETH, they're launching on SOL. As
BlackRock manages $15 trillion in assets, this could absolutely influence mainstream adoption on these blue chip protocols. As CEO of Strategy Fong Li
protocols. As CEO of Strategy Fong Li explains, as tokenization happens with or without the Clarity Act because it's already being established by the SEC, the CFTC, the Treasury, that's what's going to allow big money from the banks
to really get into this space. >> What I mean is we need the SEC and the Treasury and the CFTC to move forward with the set of excellent rules that they have planned to allow tokenization of real world assets, to allow
stablecoins to be implemented. What will happen then is large banks, and we've seen them, will start to move into this space. And that'll be a major catalyst >> By the way, anybody trading Solana, anybody trading Bitcoin or crypto or
altcoins, check out exchange partner Bitrue next. I use them because they have better liquidity, better trading, and use code altcoin daily for up to and use code altcoin daily for up to $10,000 in perks. Limited time, this
does offer better liquidity. So, highly recommend if you're a high volume trader. Bitcoin wallet coldcard continues to be drained. Coldcard wallet continues to be drained. Coldcard wallet losses may near 114 million as possible
fourth sweep emerges. So, why coldcard is vulnerable? This Bitcoin wallet specifically we explained in yesterday's video. The update is a fourth wave of sweeps against Bitcoin coldcard wallet users began early Monday and is still
running hours later. This time, however, researchers say the transactions can be unconfirmed. Meaning the Bitcoin blockchain is a little clogged leaving
pending transactions. The scammers trying to get the Bitcoin out, but anybody who spots their address in the mempool has minutes to pay a higher fee and move funds to a wallet they control first. And again, if you're using if you
first. And again, if you're using if you use a ledger or a Trezor wallet like me, it is much safer because it has much better randomness. Uh so much better entropy randomness. Just very unfortunate for the Bitcoin
only coldcard users. Michael Saylor addresses the liars, the people claiming that he speaks one thing and says another. He says, "When I say never sell
your Bitcoin, I speak as one saver to another, one individual to another individual. I have never sold mine, not one satoshi. Strategy is a public company, not my wallet. Since 2020, it has disclosed it
may buy or sell Bitcoin to manage capital. Our shared conviction in Bitcoin remains unchanged." So, this is pretty obvious what Michael Saylor does as an individual. He's held to different standards as a public company.
I've never sold my Bitcoin, I'm not going to sell my Bitcoin the exact same day strategy sold another hundred and five million dollars of Bitcoin repurchased 81.2 million dollars of STR
>> Following our graphic just showed that your average cost was $75,000 per Bitcoin and we're at 63 today. So are you a forced seller of Bitcoin? Bitcoin. The average cost is not that important to us. It's really
was were our Bitcoin purchases accretive to our common shareholders and our been. >> So obviously it's just a distraction to say Michael Saylor is a liar. He has sold. He didn't sell. He's held to
different standards as a public company and that distinction is real. His own coins and the companies are different pots and one of them has to pay has bills to pay. Michael Saylor also signals this. So when is the best time
historically, mathematically to buy Bitcoin? We are now tracking Bitcoin's 200-week moving average and its premium to that level on strategy.com. to that level on strategy.com. Since the 200-week MA became available,
Bitcoin has traded above it 92% of the time. Today it sits almost exactly on the line and we can double check this. We see this on TradingView Bitcoin at
the 200-week moving average mathematically historically always a great time to buy if you're willing to hold for at least two to four years. But not Jim Cramer. Jim Cramer just announced live on CNBC.
Actually this was Friday just a few days ago on Friday that he is about to sell all his Bitcoin due to quantum threat. So notice how he first references his So notice how he first references his conversation with IBM CEO saying that
years before quantum goes into full swing and that's causing him to get out of crypto completely. >> I have some crypto. When I think about the equations that people tell me could never be cracked get to my crypto, I it
sounds to me like the University of Chicago announcement. Should I be more >> I think that you should give yourself three or four years, and at that point I would get rather paranoid about it. >> Really?
That's not that long. >> No, that's not that long. >> Oh, boy. Yeah, I realize I'm waiting Ethereum that really maybe even worse. So, I think that people have to take this man
seriously because they're doing commercial quantum. this quant this Chicago study basically cracked a number it did an equation that no one thought could ever be solved, right?
Bitcoin? Now, there will be people on Bitcoin who say, "Look, I don't know don't know anything." I don't have to know anything. I I asked the question. I didn't get the answer. But, Arvin Arvin Christian knows quantum
incredibly knows he knows Bitcoin and quantum. And >> Yes, absolutely. >> Really? Just on what he said? >> Well, well, I he's he's the man.
He's the man. Three, four years. David, you know when >> This is meant to scare you, in my opinion, scare retail, in my opinion, because every single bank account all the nuclear codes will be susceptible to
to do? We're going to update the nuclear codes. We're going to update the bank We're going to update the Bitcoin blockchain. That's easy. The only thing
that's potentially going to be a problem if we update the Bitcoin blockchain is Satoshi's coins. That's about 5% of the supply. And could we take a 5% dip if quantum hackers are able to steal 5% of Bitcoin's supply? Yes, it's no big deal.
tabs in the Bitcoin price all week. Click subscribe if you're invested in crypto. You do not want to miss a video. And like always, see you tomorrow.