The Bitcoin Cage The Option Genius Podcast: Options Trading For Income and Growth

Hey, it's Allen again, from Option Genius. And today I learned something that I want to share with you. Over this weekend, this past weekend, I attended virtually a conference. And it was an investment conference on basically it was on funds. So how to, it was for people who want to have a fund like hedge fund or a real estate fund or crypto fund at all, there's so many different types of funds. And so they put all the people together in a room and they had speakers come and talk about the different things that they're doing and how you can do it, and how you can get investors to give you money and how you can build your track record and all this kind of stuff. So currently, I am thinking about doing that. And so I went there, and one of the speakers was a guy by the name of John Pennington, you can look him up John Pennington, he's probably a billionaire, or if not, he's worth several 100 million dollars.
About a year ago, he took his company public, they were a fund, they were a real estate fund. So they were using investors to give them money. And then he would go out and buy real estate and do loans and stuff like that. And they made it to build it up pretty good—several billions of dollars of assets. And then they took the company public. And he was the I believe he was the president or the co-founder, one of them and then he retired. So now he has a lot of time on his hands. But he's still a very smart guy, because you don't build up a company and go public, you know, and make millions or millions of dollars if you're not a smart guy. So he took the stage. And he talked about a couple of different things. One of the things he talked about was he what he calls the Bitcoin cage. Now, I want to give him complete credit for this because I hadn't thought about this. This is his thing.
I don't know if he got it from somewhere else. But he brought this in spoken to everybody. And it was very interesting. So I'm telling you this not because we're going to be making money, I will not be selling options on Bitcoin or anything like that. But I want to also show you how other people think and how when you're investing, you need to be looking two or three steps down the road, to really understand what is going on in the markets. It's not just hey, I want to buy this stock is gonna go up and sell puts because it's going up. Yes, that's just kind of what we do. Right, simplicity wise, but long term, we have to also know what's going on.
So Ray Dalio, the guy who has the biggest hedge fund in the world is another guy, he has written several books. And he's been talking a lot about the reserve currency, as the dollar is currently the reserve currency of the world, meaning that most of the trade around the world is done in dollars. So that's very, very, very, very, very important for the United States. And if they stopped being the reserve currency, the dollar stops being the reserve currency, it's going to be very negative for our economy, our country, our debts, borrowing money, all that stuff, taxes are gonna go up all kinds of crazy stuff is gonna happen. And at this point, China really wants their currency to be the reserve currency. They don't want the dollar, they don't like the dollar anymore, and Russia is trying to get everybody off the dollar, as well. So it's gonna be interesting, the next 1520 years, see what happens with that, but call him John, John Pennington, the guy who's talking. According to him, the Fed-its main mandate there number one mandate is to keep the dollar the reserve currency. That's what he says is that their most important goal, their most important objective is to do that. Now a few years ago, nobody ever heard of Bitcoin, right?
But bitcoin is billed as a currency is that's where it's supposed to be used to buy stuff with itself stuff with it, right now, because of the US tax laws, it's not really a currency, right? Because you pay taxes on it, every time you sell it, every time you buy somethi