00:00:00The complications of being your own bank
00:00:17Discovering Meanwhile and Bitcoin life insurance
ABOUT THIS EPISODE
Today's guest is Jason Leibowitz (@LeboBTC), head of business development at Meanwhile. Jason is a Wall Street veteran who has been in the trenches since 2013, moving from the trading floors of TradFi and leading blockchain strategy at Credit Suisse before helping build the first-ever life insurance company denominated entirely in Bitcoin.
In this episode, we move past the price action and get into the real financial infrastructure. We discuss why "being your own bank" is actually terrifying for most people, the nightmare of inheritance planning, and how a Bitcoin-denominated life insurance policy acts as a sovereign tax wrapper for your stack. Jason breaks down the math on how you can borrow against your Bitcoin at a stepped-up cost basis, essentially spending your wealth without ever selling your original sats or handing a cut to the IRS.
This is the conversation you need if you're thinking about 70 to 100 years of generational wealth.
English
United States
SHOW NOTES 🔗
TRANSCRIPT 🔗
1
00:00:00,000 --> 00:00:02,260
We take for granted what banks do.
2
00:00:02,540 --> 00:00:07,480
When we say be your own bank, it sounds great, but it's so complicated and it's so scary.
3
00:00:07,980 --> 00:00:11,980
And when you try to teach a boomer how to be his own bank and self-custody crypto,
4
00:00:12,180 --> 00:00:15,760
and he emails himself his private keys so that he doesn't forget them.
5
00:00:16,240 --> 00:00:17,420
And you're like, stop, stop.
6
00:00:17,760 --> 00:00:22,940
I was in traditional Wall Street before I first heard about Bitcoin in 2013.
7
00:00:22,940 --> 00:00:26,240
I was on the trading floor at TD Securities.
8
00:00:26,240 --> 00:00:30,800
One of my clients was a hedge fund and the light bulb went off for me.
9
00:00:30,860 --> 00:00:32,260
It's like attaching money to an email.
10
00:00:32,380 --> 00:00:38,180
This is the days of Vine videos and like YouTube and like things went viral really quick.
11
00:00:38,620 --> 00:00:40,260
I mean, overnight things went viral.
12
00:00:40,360 --> 00:00:43,520
So I was like, oh my God, whatever this Bitcoin thing is, it could go viral tomorrow.
13
00:00:43,840 --> 00:00:44,640
I should buy it now.
14
00:00:44,760 --> 00:00:45,480
It was 300 bucks.
15
00:00:46,000 --> 00:00:48,920
I was shouting from the rooftops to anyone that was willing to listen.
16
00:00:49,180 --> 00:00:52,080
And on Wall Street, Bitcoin is like a real thing.
17
00:00:52,080 --> 00:00:56,380
Meanwhile, it was during 2024, however, that I discovered this company called Meanwhile.
18
00:00:56,580 --> 00:00:59,920
At the end of this 30 minute zoom, someone had to pick my job off the floor.
19
00:01:00,580 --> 00:01:01,840
I couldn't believe what I just heard.
20
00:01:02,300 --> 00:01:05,440
It was the most compelling product for Bitcoin that I'd ever heard in my life.
21
00:01:06,200 --> 00:01:08,540
It was Bitcoin denominated whole life insurance.
22
00:01:08,920 --> 00:01:12,580
It's a pretty unbelievable concept if you think about how it all works.
23
00:01:12,580 --> 00:01:18,480
How you can monetize Bitcoin through life insurance without paying taxes and without selling your original Bitcoin.
24
00:01:18,480 --> 00:01:24,260
The dollar purchasing power is decreasing and Bitcoin's purchasing power over the long term is increasing.
25
00:01:24,560 --> 00:01:29,600
It has no ties to any government. It has no ties to any fiat. It has no ties to any war.
26
00:01:29,720 --> 00:01:31,980
You have to ask yourself this as a Bitcoin.
27
00:01:32,620 --> 00:01:38,500
Would you rather leave your wife and child 10 Bitcoin when you die or a million dollars when you die?
28
00:01:38,900 --> 00:01:44,820
Bitcoin's staying power over the very long term is here and it's not going to zero. It's never going to zero.
29
00:01:44,820 --> 00:01:57,620
That's why we have a Bitcoin life insurance company where we're comfortable making long-term guarantees that when you die in 70 years, that we will give your beneficiaries, your family, whoever your loved ones are, Bitcoin.
00:00:00,000 --> 00:00:02,260
We take for granted what banks do.
2
00:00:02,540 --> 00:00:07,480
When we say be your own bank, it sounds great, but it's so complicated and it's so scary.
3
00:00:07,980 --> 00:00:11,980
And when you try to teach a boomer how to be his own bank and self-custody crypto,
4
00:00:12,180 --> 00:00:15,760
and he emails himself his private keys so that he doesn't forget them.
5
00:00:16,240 --> 00:00:17,420
And you're like, stop, stop.
6
00:00:17,760 --> 00:00:22,940
I was in traditional Wall Street before I first heard about Bitcoin in 2013.
7
00:00:22,940 --> 00:00:26,240
I was on the trading floor at TD Securities.
8
00:00:26,240 --> 00:00:30,800
One of my clients was a hedge fund and the light bulb went off for me.
9
00:00:30,860 --> 00:00:32,260
It's like attaching money to an email.
10
00:00:32,380 --> 00:00:38,180
This is the days of Vine videos and like YouTube and like things went viral really quick.
11
00:00:38,620 --> 00:00:40,260
I mean, overnight things went viral.
12
00:00:40,360 --> 00:00:43,520
So I was like, oh my God, whatever this Bitcoin thing is, it could go viral tomorrow.
13
00:00:43,840 --> 00:00:44,640
I should buy it now.
14
00:00:44,760 --> 00:00:45,480
It was 300 bucks.
15
00:00:46,000 --> 00:00:48,920
I was shouting from the rooftops to anyone that was willing to listen.
16
00:00:49,180 --> 00:00:52,080
And on Wall Street, Bitcoin is like a real thing.
17
00:00:52,080 --> 00:00:56,380
Meanwhile, it was during 2024, however, that I discovered this company called Meanwhile.
18
00:00:56,580 --> 00:00:59,920
At the end of this 30 minute zoom, someone had to pick my job off the floor.
19
00:01:00,580 --> 00:01:01,840
I couldn't believe what I just heard.
20
00:01:02,300 --> 00:01:05,440
It was the most compelling product for Bitcoin that I'd ever heard in my life.
21
00:01:06,200 --> 00:01:08,540
It was Bitcoin denominated whole life insurance.
22
00:01:08,920 --> 00:01:12,580
It's a pretty unbelievable concept if you think about how it all works.
23
00:01:12,580 --> 00:01:18,480
How you can monetize Bitcoin through life insurance without paying taxes and without selling your original Bitcoin.
24
00:01:18,480 --> 00:01:24,260
The dollar purchasing power is decreasing and Bitcoin's purchasing power over the long term is increasing.
25
00:01:24,560 --> 00:01:29,600
It has no ties to any government. It has no ties to any fiat. It has no ties to any war.
26
00:01:29,720 --> 00:01:31,980
You have to ask yourself this as a Bitcoin.
27
00:01:32,620 --> 00:01:38,500
Would you rather leave your wife and child 10 Bitcoin when you die or a million dollars when you die?
28
00:01:38,900 --> 00:01:44,820
Bitcoin's staying power over the very long term is here and it's not going to zero. It's never going to zero.
29
00:01:44,820 --> 00:01:57,620
That's why we have a Bitcoin life insurance company where we're comfortable making long-term guarantees that when you die in 70 years, that we will give your beneficiaries, your family, whoever your loved ones are, Bitcoin.
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