Your Business Is Losing Money… Here’s the Fix! - Daniel Frank
DOWNLOAD YOUR COPY OF THE BITCOIN-FOR-BUSINESS QUICK START GUIDE
This free, 27-page resource includes:
- Six ways ANY business can benefit from Bitcoin
- Some of the best Bitcoin-only businesses to partner with
- Key Bitcoin concepts for people getting started
Daniel Frank is the founder of Sovreign, a Bitcoin consulting firm dedicated to helping businesses integrate Bitcoin as a hedge against inflation and monetary debasement. With a passion for sound money, Daniel educates business owners on Bitcoin’s role as the ultimate economic battery—preserving wealth without leakage. In a world of failing fiat systems, he empowers companies to take control of their financial future with Bitcoin. His mission: to accelerate Bitcoin adoption in the business world.
🌐 CONNECT WITH DANIEL
- 𝕏 X: @Daniel_Frank7 on X
- 🌍 Website: Daniel's Website
- 📺 YouTube: Daniel on YouTube
🌐 CONNECT WITH JOSH
- 𝕏 X:@joshuafriedeman
- 🔗 LinkedIn:@joshuafriedeman
- 📺 YouTube:@joshuafriedeman
TAKEAWAYS
- Adopting Bitcoin as a treasury reserve asset is crucial for businesses facing inflation.
- Bitcoin is fundamentally a technology that addresses systemic monetary issues, not merely an investment.
- The volatility of Bitcoin often deters businesses from adopting it, despite its potential benefits.
- Educating business owners on the complexities of Bitcoin is essential for successful integration.
- Sovreign offers tailored consulting services to assist businesses in navigating Bitcoin adoption challenges.
- Understanding the historical context of money is vital when discussing Bitcoin with potential clients.
SHOW PARTNERS
Mentioned in this episode:
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Strong Wealth: Wealth Management for Bitcoiners, by Bitcoiners
Transcript
Okay, so you can't be in cash.
Speaker A:You're getting debased.
Speaker A:Gold is not cutting it.
Speaker A:Real estate is not what you think it is.
Speaker A:Bonds have negative real yields.
Speaker A:And if you're a larger business, you can give the capital back to the shareholders.
Speaker A:You can get dividends.
Speaker A:You do mergers and acquisitions.
Speaker A:When you really, really look at all these things, you realize none of it makes any sense.
Speaker A:It's not ideal.
Speaker A:And when you then present Bitcoin, here we have a global, open, incorruptible monetary system with a completely limited supply 24.7liquidity.
Speaker A:It has the best performance of any asset.
Speaker A:It's a commodity.
Speaker A:It's not a security.
Speaker A:You don't have the management risk, the execution risk, and all these kind of things that you see with equities.
Speaker A:And listen, when you look at it from that perspective, it's just like, wow.
Speaker A:Like, it's incredible, actually.
Speaker B:Welcome to the Business Bitcoinization Show.
Speaker B:The show dedicated to helping you enrich your life and grow your business with bitcoin, the hardest money on planet Earth.
Speaker B:I'm your host, Josh Friedeman, and our guest today is Daniel Frank, who's the founder of Sovereign, which is a bitcoin consulting company that helps to onboard businesses to bitcoin.
Speaker B:On today's interview, we're going to talk with Daniel about the first steps they take to educate business owners about bitcoin and how you can get started with your own bitcoin strategy.
Speaker B:We're going to get to our interview with Daniel right after this.
Speaker B:Daniel, welcome to the podcast.
Speaker A:Thank you so much, Dallas.
Speaker A:It's a pleasure to be here.
Speaker B:So I like to start off every single interview with a few questions that help us to get to know you a little bit better and give us some insight for our own lives.
Speaker B:Are you ready for these?
Speaker A:Absolutely.
Speaker B:Question number one is this.
Speaker B:When and how did you first learn about bitcoin?
Speaker A:Yeah, it's funny.
Speaker A: y, I got into bitcoin back in: Speaker A:And it was a big waste of time because I didn't understand the difference between bitcoin and crypto and eventually sold all my bitcoin, all my crypto.
Speaker A:When the bear market came, all my friends did the same.
Speaker A:We dismissed it.
Speaker A: hen I came back again in late: Speaker A:And that's when I delved into the bitcoin maximalism kind of sphere things.
Speaker A:And that's where I think the real signal is.
Speaker B:Question number two.
Speaker B:What's an insight or fact about Bitcoin that you wish everyone understood?
Speaker A:Right.
Speaker A:I wish more people outside of like the Bitcoin echo chamber understood that Bitcoin is a technology and not an investment.
Speaker A:It is kind of difficult to describe, but I think most people look at Bitcoin as some sort of novelty or it's a, it's a currency or a coin or a stock, but it's actually a fundamental technology and protocol that solves a very real problem.
Speaker A:And I think when you see it from that perspective, it changes how you kind of approach it.
Speaker B:And if someone were to ask you what is that problem that Bitcoin solves as a technology, how would you respond to them?
Speaker A:Perfect question.
Speaker A:I mean, fundamentally it solves the, the Byzantine general's problem, the double spend problem, but that's a computer sciencey way of explaining that Bitcoin removes the middleman and gives the power back to the people.
Speaker A:And it's a protocol that works without human intervention and by extension, human corruption.
Speaker A:Because anytime you give humans control of anything, it's very tempting to, to take control of it.
Speaker A:And Bitcoin is just for everybody.
Speaker A:Nobody controls it, and that's what makes it beautiful.
Speaker B:And I frequently will tell people that no one controls it.
Speaker B:No corporation, no nation, no individuals.
Speaker B:And I just tell them, like, I can explain why that is, but that's a very.
Speaker B:It sounds almost impossible to believe because so many things in this world, maybe you could say everything is controlled by someone, can be manipulated by someone, but it's so unique that Bitcoin can't be.
Speaker B:And I'll tell people, hey, we can go into the details, but just for the sake of this conversation, accept that fact for right now.
Speaker B:And this is why Bitcoin is so powerful.
Speaker B:Because going into some of those details, that's what takes so much time.
Speaker B:We'll probably touch on some of that later on in the interview, because I know you probably have to explain some of that to your clients, but I just think it's so powerful that Bitcoin simply cannot be controlled or in the long term manipulated by anyone.
Speaker B:We see the price fluctuations, et cetera, et cetera.
Speaker B:But such a powerful thing.
Speaker A:It's beautiful, in my opinion.
Speaker A:I think it's truly beautiful.
Speaker A:It's, it's a gift to humanity.
Speaker A:And that's what I, I would love for people to understand that it's not just something you can own on Robinhood or whatever.
Speaker A:It's.
Speaker A:It's a paradigm shift in, in how humanity organizes itself.
Speaker B:Question number Three, what's the bitcoin resource you most recommend to other people?
Speaker A:It's the resource that got me into the rabbit hole.
Speaker A:That's the.
Speaker A:The Sailor series with Robert Breedlove.
Speaker A: at had been available back in: Speaker A:A lot of people I know would have gotten a lot out of that, but that kind of signal was not available back then from anywhere that I ever noticed.
Speaker A:So, love that series can be highly recommended.
Speaker B:And I am the same way.
Speaker B:That's what got me to take bitcoin seriously for the first time.
Speaker B:After having a couple conversations with people that I maybe didn't think knew what they were talking about, which I'm sure people have thought that about me as well.
Speaker B:But, you know, a couple conversations with just individuals in my life.
Speaker B:But then it was the Sailor series that really got me to take bitcoin a little bit more seriously.
Speaker B:And it was.
Speaker B:By probably the third or fourth episode, I was all in.
Speaker B:Now.
Speaker A:It's crazy.
Speaker B:Well, what I wanted to say is that I have recommended that to other people and a few people have taken me up on listening to at least some of the episodes, but I don't know if anyone else that I've recommended it to has taken bitcoin that much more seriously because of it.
Speaker B:So I almost feel like it's the.
Speaker B:It's the.
Speaker B:The resource that I like the most and was most impactful for me, but I've not found that it's been as impactful for other people.
Speaker B:Have you had the same experience or would you.
Speaker B:When you've recommended it to other people, that's also been kind of a key for them.
Speaker A:Wow, that's.
Speaker A:That's a really good question and very, very insightful observation because I.
Speaker A:I do think it takes a certain kind of person to find it very interesting.
Speaker A:I mean, it what I like about it.
Speaker A:So I always studied history, economics, investing, psychology, anthropology.
Speaker A:So when you have somebody like sailors, start like, listen here with the Stone Ages and explaining energy and human civilization, and then you inevitably end up at digital energy, digital capital.
Speaker A:That fit perfectly with my worldview.
Speaker A:But had I not had that previous exposure and somebody just sent me that out of the blue, I think it might go a little bit over my head or just be a little bit too deep.
Speaker A:So I've had some good results with it, but I think it might not actually be the best beginner resource.
Speaker B:Well, and that's the thing.
Speaker B:The question is, what's the most recommended resource?
Speaker B:And there are a handful of Resources.
Speaker B:I know of someone locally right now who's working on a resource that helps get people from zero to one.
Speaker B:There's a lot of content out there that gets people from 1 to 2 or 2 to 3 on the ladder.
Speaker B:Rung of, on the ladder of Bitcoin knowledge.
Speaker B:But there's very little that really goes from nothing to one.
Speaker B:And there's this guy, I forget, I forget his name, but who was recently on TFTC that was talking about some of that type of education.
Speaker B:I forget his name.
Speaker B:Most people listening to this probably would have heard it.
Speaker B:If not they can find it.
Speaker B:But do you remember who that was?
Speaker B:Slash.
Speaker B:Have you seen that yet?
Speaker A:I don't believe I do.
Speaker A:But that is exactly what we need, as many very easily digestible formats of content that people can get up to speed on.
Speaker A:Very important.
Speaker B:Yeah.
Speaker B:Well, question number four is beyond Bitcoin.
Speaker B:What's a resource, tool or idea that's been helpful to you or your work recently?
Speaker A:Right.
Speaker A:I've recently started using a very interesting AI tool that is really helping me in my work.
Speaker A:I think that would be my best answer to this.
Speaker A:It's.
Speaker A:It's called Monica Lives in my browser.
Speaker A:And it just, if there's some sort of news article, it'll just summarize it, grab key points.
Speaker A:When I'm on a website, I can just ask a question that's the best.
Speaker A:Like I don't want to read your 10 page article.
Speaker A:Just let me search where is this information?
Speaker A:And it just finds it.
Speaker A:I mean it's absolutely brilliant.
Speaker A:Can do the same with the PDF.
Speaker A:Can highly recommend that.
Speaker B:Excellent.
Speaker B:And now we have our final, what we call our arbitrary but insightful question.
Speaker B:And it's this.
Speaker B:As a general life principle, is it better to ask why or why not?
Speaker A:Such a good question.
Speaker A:So many different answers to this.
Speaker A:But I will actually say it's important to ask why.
Speaker A:And I think as I get older and I reflect on my life choices, you realize that the opportunity cost in life is everything.
Speaker A:And every choice you make is simultaneously you're not choosing every other choice.
Speaker A:So we're sitting here right now, but I'm also simultaneously not doing everything else I could possibly do in the world.
Speaker A:So if you don't ask yourself why you're doing something, you might end up wasting your time.
Speaker A:I think it's very important to realize your time is scarce and think hard about where you choose to give your attention.
Speaker B:Well, Daniel, we're here today to talk about your business sovereign and how you're helping organizations to adopt bitcoin so I'd love to hear a little bit from you about how you guys got started and what you're doing right now.
Speaker A:Absolutely.
Speaker A:Sovereign was really a kind of trying to fill a lack that I saw.
Speaker A:We were just talking about the bitcoin education.
Speaker A:I come from a B2B background in marketing, that kind of stuff.
Speaker A:And I was very fascinated about bitcoin's application in business because the value proposition for a person or a company, it's the same, but there wasn't a whole lot of people talking about this.
Speaker A:And so the idea for Sovereign was let's create an educational company where we provide really good education to business owners to get them up to speed on Bitcoin, both as a treasury reserve asset, can be payments, it can be cultural things in the company, it can be operationally.
Speaker A:And then I figured, well, if, if we're going to be educating people with these free resources and, and podcasts and that people are probably going to have questions and need some hand holding.
Speaker A:So let's get some advisors together, let's find a team of experts to then offer people the, the opportunity to, to speak with them for whatever it is.
Speaker A:And that's what we built.
Speaker A:We have a great team now of lots of different consultants.
Speaker A:Any kind of problem you have or question regarding bitcoin, whether that's how do I approach it, how to buy it, store it, how's the regulation, accounting, taxes, integration, risk, public perception, anything, our experts can help with that.
Speaker A:And I, I think it's a useful service.
Speaker A:We're still very, very early, but I think bitcoin for business is, is, is.
Speaker A:It's just getting started, but it's going to be a huge tsunami that's going to come.
Speaker B:Now, a couple questions about the team.
Speaker B:How large are you guys?
Speaker B:Are you pretty well distributed or fairly condensed in certain areas?
Speaker B:And then also do you have specialists or is everyone pretty well versed in these number of different areas you've just talked about?
Speaker A:That's a wonderful question.
Speaker A:And just off the bat, we're still a startup, so it's very early in the company.
Speaker A:I started the firm about a year ago and then about six months ago, I brought in a lot of different business partners like Joseph McGee and others that have really just taken the company to another level.
Speaker A:And we're really very geographically spread out.
Speaker A:The internal team say we're about 10 people, but we do have a very large roster of consultants because we've yet to find any one person that knows everything because it's, it's too complex.
Speaker A:It's too, in the same way that bitcoin touches on so many subjects, the implications of it in a business is beyond any one person's ability to understand.
Speaker A:I think some people definitely loan a lot, but we also have CPAs that can actually do accounting advice and tax advice and different people that have come from traditional financial institutions like Fidelity, JP Morgan, Morgan Stanley, etc.
Speaker A:And they bring that investment side of it, all these different people.
Speaker A:And so the idea is when a client comes to us, we want to not just be like, oh, you should talk to Daniel or talk to her, he knows everything.
Speaker A:No, let's put together a team of people that are absolute experts in these areas so you can get the highest quality of service.
Speaker A:She also asked where we're kind of distributed.
Speaker A:We, we are focused in the US and we're kind of all across the US from the west coast to the east.
Speaker A:And we do have people in Europe as well.
Speaker A: y of this bitcoin adoption in: Speaker B:And I was going to ask a follow up question, but before I get there, why do you think most of it's going to happen in the United States?
Speaker B:Is it because of the new, the Trump administration or do you think there's just other things afoot?
Speaker A:As a general notion, I think the US Is the leader in innovation in the world.
Speaker A:I think China is doing great, but they're, they copy the US They're a communist state.
Speaker A:It's different.
Speaker A:Well, now they're breaking out with, with AI, with deep seek and all that.
Speaker A:But I think the US is always leading in innovation.
Speaker A:And then now with the Trump administration, the proper fair value accounting rules coming in, SAP121 being rescinded, I mean, there's so much headway.
Speaker A:And when you then look at Europe, for example, where I'm at, it's just a, it's.
Speaker A:They, they try to provide clear regulation, but by doing so they're also stifling the innovation and just making it so difficult for people to work here.
Speaker A:So my eyes are focused on the.
Speaker B:US and then I guess another question on that same vein of thought.
Speaker A:Sure.
Speaker B:Why do you think Europe is like that?
Speaker B:Like what is, is it, is it a sense of caution?
Speaker B:Is it something else that I'm not thinking of?
Speaker B:What is it about the, the European culture that's a little bit different?
Speaker B:I've heard people talk about this before, but I'd be interested to hear from someone who actually lives there.
Speaker B:And sure, sometimes.
Speaker B:Sometimes you look at it and you say, this is all negative.
Speaker B:Sometimes there are some positives.
Speaker B:But I'd love to hear your thoughts on why it's a little bit different in Europe.
Speaker A:Well, I appreciate you asking.
Speaker A:I'm not sure I'm the right person to answer that question.
Speaker A:I think, especially the European Union, I personally, and a lot of people here see it as a power grab, and it just continually tries to encroach more and more on people's rights and freedoms.
Speaker A:Obviously, it's all done in this collectivist spirit.
Speaker A:And I think that might actually be where the root of the problem lies and this collectivist thinking.
Speaker A:And I disagree with a lot of things they do.
Speaker A:Obviously, they also do good, and they do it with the intention, hey, we're doing this for your safety, for your protection.
Speaker A:But that also means when SORA came out, I can't access it because it's not available in Europe, even though it's available in Bangladesh or whatever.
Speaker A:So it's.
Speaker A:This regulation stifles innovation and increases the cost of doing business, but it's also necessary.
Speaker A:But that fine line, I think it's very difficult to walk.
Speaker A:And I think that power to control other people's decisions, it's very appealing to people in the ECB and the European Union.
Speaker A:They really like to control things.
Speaker A:That's at least my opinion.
Speaker A:I might be wrong on that.
Speaker B:Sure.
Speaker B:And do you feel like that's the majority perspective in Europe, or is the majority kind of in line with the eu?
Speaker B:And I asked that, realizing that it's hard to know where the majority is.
Speaker B:I mean, there's a lot of questions even coming into the most recent presidential election, like, where is everything going to fall?
Speaker B:People have their opinions, and it ended up being really close.
Speaker B:So, you know, it's really hard to tell what other people are thinking.
Speaker B:But what's the vibe that you get, at least?
Speaker A:Yeah, it's a good question.
Speaker A:I honestly, here in Denmark, where I live, people honestly don't talk that much about the eu.
Speaker A:It's very interesting.
Speaker A:It seems to be something that's happening very much in the background, whereas in the us, what the federal government is doing is obviously very interesting to everybody.
Speaker A:But.
Speaker A:But it.
Speaker A:Most people are not talking about this.
Speaker A:I don't think I've heard a single person bring up something about what the European Central bank is doing or how it's affecting our economy, or maybe it's the circle I'm in, but it's.
Speaker A:People don't really talk about it.
Speaker A:That much because we have our own country, we have our own government, and then we have this other group of people that are making all these laws and rules and regulations.
Speaker A:But it seems to be going on outside of our sphere of kind of awareness.
Speaker A:I don't know if that's, that's at least how I see it, but I bet other people would have different opinions.
Speaker B:Sure, sure.
Speaker B:Well, so the question I was going to ask a few moments ago is you mentioned when clients come to you, and I'm curious to know, do most businesses reach out to you or is it still in that, that stage where you need to be reaching out to businesses to see if they're interested in accepting bitcoin?
Speaker A:Yeah, very much the, the latter.
Speaker A:I think we're still very early in this.
Speaker A: had actually anticipated that: Speaker A:I think it's a general life lesson.
Speaker A:Things always just happen slower than you anticipate.
Speaker A:When you're on bitcoin Twitter, sometimes you feel like, man, if I don't smash buy today, it's, it's going to the moon tomorrow.
Speaker A:Like we're, we're the, the train is leaving the station.
Speaker A:But we are focusing all of our attention on the education because I think that's the most important thing.
Speaker A:The people that are adopting bitcoin in their business, I think they're the outliers.
Speaker A:Meta, Planet Sembler, Microstrategy.
Speaker A:These are all organizations led by very thoughtful, very innovative and, and creative leaders.
Speaker A:And I think they are the exception, not the norm.
Speaker A:I think it's going to take a lot of education, a lot of zero to one kind of content.
Speaker A:That's why we just came out with a Bitcoin for beginners course.
Speaker A:We're going to make a bitcoin for business course.
Speaker A:We're coming out with our ebook the Big the Business Case for Bitcoin.
Speaker A:And I want to give that stuff away to a million people.
Speaker A:That's really the key.
Speaker A:And I would much rather give away all the information for free, focus on the education.
Speaker A:And then when people are ready, if they want to do it themselves and they feel comfortable with that, I'll gladly give them all the tools and resources for it.
Speaker A:But it's also very complex to adopt bitcoin in your business.
Speaker A:There's a lot of things you don't think about it.
Speaker A:So working with an advisor and having somebody to hold your hand is a very, very good idea.
Speaker B:I think it'd be good to talk about some of the Things that people need to be thinking about if they're interested in accepting bitcoin and what some of those tools are that you would also recommend.
Speaker B:But I think maybe first of all, what have you found to be the best pieces of education to give to people or best conversations to have to really help people to understand the potential that bitcoin can bring to their business?
Speaker A:Interesting, but very good question.
Speaker A:I think every time I try to approach this, which is what I've been doing the whole day before, before this, I try to think in a story.
Speaker A:I don't want to just hit people with information.
Speaker A:I want to weave a story.
Speaker A:And in my mind, it has to hit on a lot of different subjects.
Speaker A:So if we take somebody that doesn't understand Bitcoin and they don't understand the value proposition for a business, you can't just hit them with wallets.
Speaker A:Here's the cagr, here's why it's so good.
Speaker A:And all this.
Speaker A:You gotta, you gotta start with what is money?
Speaker A:It sounds cliche, but you gotta understand, what is money?
Speaker A:Why is bitcoin good money?
Speaker A:Why is it the best form of money in our opinion?
Speaker A:And then you look at what is the investment case for bitcoin, what does it actually mean?
Speaker A:What are the returns, what's the volatility, the sharp ratio, all these kind of things.
Speaker A:And then you, you, you, you have to compare it to other things.
Speaker A:I think that's the key to look at what is the traditional treasury management, or a lot of small businesses don't have a Treasury strategy, so to say.
Speaker A:But, but you, you have to keep your cash somewhere or your profits, because if you keep it in cash, you're getting diluted.
Speaker A:Well, that was part of the explanation.
Speaker A:You have to explain inflation.
Speaker A:You have to explain what is hard money, what is soft money.
Speaker A:Why is bitcoin hard money?
Speaker A:Then you look at, okay, so you can't be in cash.
Speaker A:You're getting debased.
Speaker A:Gold is not cutting it.
Speaker A:Real estate is not what you think it is.
Speaker A:Stocks, it's maybe outpacing inflation by a little bit.
Speaker A:But you can't just put all your treasury in a security because then you'll become an investment company.
Speaker A:Bonds have negative real yields.
Speaker A:Obviously, all this is much more complex, but I'm oversimplifying it to make you understand and make people understand it once you actually look at this, okay?
Speaker A:And if you're a larger business, you can give the capital back to the shareholders.
Speaker A:You can get dividends, you can do mergers and acquisitions.
Speaker A:You can, when you really really look at all these things.
Speaker A:You realize it's, it's.
Speaker A:None of it makes any sense.
Speaker A:It's not ideal.
Speaker A:You're with any of these options.
Speaker A:There's many flaws to it and it's not a perfect solution.
Speaker A:And when you then present Bitcoin, after we've looked at all the, the alternatives, and then see, here we have a global, open, incorruptible monetary system with a completely limited supply 247 liquidity, it has the best performance of any asset.
Speaker A:It's a commodity, it's not a security.
Speaker A:You don't have the management risk, the execution risk, and all these kind of things that you see with equities and this.
Speaker A:And when you look at it from that perspective, it's just like, wow.
Speaker A:Like, it's incredible actually.
Speaker B:So they have all that education.
Speaker B:You have some of those conversations probably over the course of, you know, multiple get togethers.
Speaker B:But once they have that understanding, what are the top slash most popular questions that business owners tend to ask about the particular actions of adopting bitcoin into their business?
Speaker A:I think the biggest concern most people have is the, the public perception and the volatility and kind of the fud.
Speaker A:It's not, it's not so much the, at least what I'm hearing, the intricacies of it.
Speaker A:It's.
Speaker A:It's still this kind of low level fud, like, oh, if I adopt this, what is my customers gonna think?
Speaker A:What about my shareholders?
Speaker A:What if we invest and it crashes to, you know, half the price tomorrow?
Speaker A:It's all these really basic things or, well, like bitcoin, everything you said is great, but what about it boiling the ocean?
Speaker A:I don't feel comfortable about that.
Speaker A:Once you get over all of these different things, then it comes to much more practical things.
Speaker A:But that's.
Speaker A:That seems to always be the first hurdle.
Speaker A:And every time you have a conversation online, it's.
Speaker A:That's what people come with.
Speaker A:We still need a lot of education on that front.
Speaker B:And then what are the tools that you guys tend to recommend as far as the services and maybe other things?
Speaker B:I'm not thinking of that.
Speaker B:If a business owner says, okay, I'm ready to pull the trigger, I'm ready to get started with this.
Speaker B:What are some of the best tools that you recommend to business owners, keeping in mind that each person may have different needs given different contexts.
Speaker A:Yeah, wonderful question.
Speaker A:The way we've chosen to approach this is that we don't claim to be the best at everything and we don't have all of these services in house.
Speaker A:I would love to be able to say that come buy your bitcoin with us, we'll store it for you.
Speaker A:We'll do all these things, but that's just not the case.
Speaker A:We could try to do all these things, but then I would be directly competing with people that probably do a lot better job and that's their only focus.
Speaker B:Sure.
Speaker A:So the way we've chosen to do it is to make partnerships with the best companies and then pre vetting them in order to refer our clients to them.
Speaker A:So I think that's part of the value proposition of working with us is it's very difficult to find the right companies and information in bitcoin.
Speaker A:Especially if you just search on Google.
Speaker A:It's all crypto blockchain web three and all the really, really good signal is hidden below a wall of Forbes and Bloomberg articles and all that.
Speaker A:So when you're ready to pull the trigger.
Speaker A:We have relationships with the best providers in the industry and they're all bitcoin only companies.
Speaker A:That's a big part of the value proposition of the firm too.
Speaker A:We're bitcoin only.
Speaker A:Back when I originally started researching this business idea and you search for a bitcoin consultant, even still to this day a lot of it is crypto consultants and I would not recommend people to go into the lion's den like that.
Speaker A:So to answer your question, each company is unique and that's also why we haven't just partnered with one provider for each kind of task or service.
Speaker A:Because I think it would be a little bit disingenuous to say oh just, just use these people, they're the best for everybody.
Speaker A:Because that's just not the case.
Speaker A:So you have to find a good place to purchase your bitcoin.
Speaker A:We can always recommend river Bitcoin, well these great established bitcoin only companies.
Speaker A:And then it depends, do you want to just create an account and just buy regularly?
Speaker A:Do you need to buy large sums OTC for example, that changes it.
Speaker A:How are you going to custody it?
Speaker A:Are you actually going to do self custody?
Speaker A:And then which hardware wallets do you need?
Speaker A:Well we can educate you on that and get you some good deals on them, but maybe you're not ready for that, maybe you want to outsource that.
Speaker A:So what's that going to look like?
Speaker A:Is that a on ramp situation with a multi institutional customer you're looking at?
Speaker A:Is it you do a two or three setup with Theia where you hold two keys and they hold a third, for example, so many different options and that's why you have to talk with the client and figure out exactly what their situation is.
Speaker A:It also depends.
Speaker A:Are you just a barber shop down the street?
Speaker A:Maybe you can survive with a single sig or multi sig.
Speaker A:You're the owner, you're the sole entrepreneur.
Speaker A:If you got a big company, you need very thorough processes for who has access to the keys, where they stored, who can sign transactions.
Speaker A:And it kind of, you can make it sound simple, but when you really get into the nitty gritty, it's very complicated.
Speaker A:And I would not even feel comfortable saying that.
Speaker A:I'm an expert in that.
Speaker A:And that's why we've hired experts that sit there, do that all day and they're the best at that.
Speaker B:So then I guess one final question that would be interesting to know is with all that you guys have done so far, have you found any trends?
Speaker B:Are there certain industries, for instance, that are particularly interested in accepting bitcoin or could particularly benefit from it?
Speaker A:I wish I could.
Speaker A:I wish I could tell you that because that's what I'm trying to find.
Speaker A:I'm trying to find some, a red thread or whatever you call it, something to like this industry, this state, these kind of people, this demographic psycho traffic.
Speaker A:I've not been able to find that yet, but I think when somebody cracks that code, it's going to be very, very interesting.
Speaker A:We've also been doing outbound, trying to reach people and get conversations started, trying to find some patterns.
Speaker A:My hunch is that there are certain industries or areas of business that already align well with Bitcoin's values.
Speaker A:People like farmers that are getting squeezed by the government.
Speaker A:The idea of bitcoin and having a payment system that they can't stop and all that is very appealing to them.
Speaker A:So I think we need more data on this.
Speaker A:But it's something I'm thinking a lot about.
Speaker A:So I'm very curious about it.
Speaker B:Yeah, for sure.
Speaker B:Well, Daniel, are there any final thoughts that you might have for the listeners today, things that we have not yet covered or that you just want to reiterate?
Speaker A:Great question.
Speaker A:I mean, something I've been thinking a lot about lately is why more bitcoin companies are not investing in bitcoin.
Speaker A:That's something I think is very interesting because when I originally set out, part of what we want to do is at sovereign is reach pre coiners.
Speaker A:But I had the idea that bitcoiners already understood the, the value proposition of bitcoin for business.
Speaker A:But I think you'll find a lot of bitcoin Companies that don't even hold one bitcoin on their balance sheet.
Speaker A:And I think it's, it's very interesting because bitcoin is as a lever for equity growth.
Speaker A:And the main kind of argument against bitcoin could be, well, it's, it's risky, it's uncertain.
Speaker A:But if your underlying operational business is already tied to Bitcoin success, what other risk do you add by adding the underlying asset?
Speaker A:If bitcoin hypothetically goes to zero, your business is also going to zero.
Speaker A:So I think a lot of people should consider that and really, really think hard about that because it's, it's, it's an amazing thing once you adopt Bitcoin, your business.
Speaker A:And I love seeing the spirit of the energy that comes from a company.
Speaker A:We see this with Semler and Meta Planet and all these companies, like, they just come alive and take on a whole new kind of.
Speaker A:Or real Bedford or I could go on and on and on.
Speaker A:It just brings a whole new spirit to the team and I love seeing that.
Speaker B:Excellent.
Speaker B:Well, Dale, where can people go?
Speaker B:They want to find out more about Sovereign, either because they know of a business who might be interested and they want to connect them with the right people, or because they themselves, after listening to this today, have said, hey, you know, this might be a good next step for me.
Speaker A:Everybody can go to Sovereign IO.
Speaker A:They can find us on all of our social media channels.
Speaker A:We're everywhere.
Speaker A:They can find me, Daniel Frank, online.
Speaker A:We're aggressively giving away free resources if that's what people need.
Speaker A:We're also trying to build up a referral program because we realize a lot of people know business owners, but it.
Speaker A:So I want to make it as easy for people to fall down this rabbit hole as possible.
Speaker A:So one of the things that I'm really looking forward to us releasing is what I call Project Orange Pill your boss.
Speaker A:So you get a resource and it has all of the best curated recommended resources for an owner, a boss, a leader, to get started.
Speaker A:So if you're an employee and you're like, man, I wish I could just explain this to my boss.
Speaker A:Well, grab that.
Speaker A:Give that to them for free.
Speaker A:If you have a friend, a brother, a cousin with a business and they want to get involved, send them our way and we can give you a nice commission for that.
Speaker A:Everybody wins and we keep spreading the word of bitcoin.
Speaker B:Excellent.
Speaker B:Well, Daniel, thank you so much for your time today and for the great work you're doing.
Speaker B:It's been a pleasure.
Speaker A:Thank you so much for having me.
Speaker A:Josh.
Speaker A:It was a pleasure being here after listening so many times.
Speaker A:It's.
Speaker A:Yeah, it's very enjoyable.
Speaker A:Thank you so much.
Speaker B:Well friends, it's a wrap.
Speaker C:Thanks so much for listening to this.
Speaker B:Episode of the Business Bitcoinization Show.
Speaker B:If you want to reach out to either me or Daniel, you can find those links down in the show.
Speaker B:Notes if you know of someone who'd be interested in accepting Bitcoin for their business, reach out to Sovereign as always, keep building, keep growing, and until next time, keep living and leading.
Speaker B:Well.
Speaker C:Thanks to those who have supported the show on Fountain in the last week, including Bruise Bitcoin who sent a comment about the episode with Christopher David.
Speaker C:He said thanks for the AI info This week Alpaca is exploring AI integration for Data Insight Now.
Speaker C:Christopher brought up the token garbage out there infiltrating AI tools.
Speaker C:It showed up in Venice AI with free airdrops and 158% APR for staking.
Speaker C:It just doesn't make sense to add that friction for a pro paid service to we'll be looking deeper into open agents.
Speaker C:Thanks Bruce Bitcoin and for anyone who's not aware, that's Doug Morton of Alpaca Retail Management System and Point of Sale.
Speaker C:If you're interested in checking them out, you can go to alpacarms.com or Alpaca RMS POS on X.
Speaker C:And of course if you would like to support the show, you can listen on Fountain and either stream stats as you listen or send a boost.
Speaker C:And if you include a comment with that boost, I'll plan to read it on the show.
