TIMESTAMPS: 00:00:00 – Introduction 00:01:22 – 50 Million Bitcoiners 00:04:55 – What Does “Owning Bitcoin” Really Mean? 00:07:15 – River’s Self-Custody Philosophy 00:10:45 – Making Bitcoin More Accessible to Normies 00:13:08 – Proof-of-Reserves & Why It Matters 00:16:45 – Michael Saylor’s Critique of PoR 00:22:30 – The American Bitcoin Advantage 00:25:05 – Is 40% of Bitcoin Really in the U.S.? 00:27:20 – Why the U.S. Is Winning: Financialization & Innovation 00:32:40 – Where’s the Retail? 00:35:15 – Why People Still Aren’t Buying Bitcoin 00:47:20 – Where Are the New Bitcoiners 00:52:20 – Retail Shift to Leverage & Bitcoin Stocks 00:57:25 – The U.S. Strategic Bitcoin Reserve Plan 00:59:00 – Should Governments Hold Bitcoin?