Tom Luongo has a theory that most Bitcoiners are not going to like. And he's got the data to back it up.

Bitcoin should be at $400,000 right now based on everything we were told. It's at $60,000. Tom says there's a reason for that. And once you understand it, the road to $1 million Bitcoin looks very different than the one most people are expecting.

Here's what we get into:

• Why Bitcoin hit $125,000 twice and went nowhere — and what that tells you about who is actually in control of the price

• Why Tom thinks the price of Bitcoin may be pre-negotiated and we are living through Bitcoin's version of gold's lost decade in the 2010s

• Why Scott Bessent would rather buy Bitcoin at $60,000 than $125,000 — and who has to go broke to make that happen

• Tom's spicy call: Michael Saylor (Chairman of MicroStrategy) goes bust before Bitcoin reaches $1 million — and his Bitcoin ends up on the US government's balance sheet

• Why Bitcoin only hits $1 million when the US Treasury has enough Bitcoin to balance the books

• Sovereignists vs globalists — how to make sense of every major geopolitical conflict right now through this single lens

• Why Trump going to war with Iran was not a betrayal — and who actually manufactured that narrative and why

• Why the oil crisis is already over and who has been painting the tape on the Brent Crude chart

• Why the dollar is being redollarized — not destroyed — and how Bitcoin and gold fit into that plan

• The end of Fed dominance and the rise of Treasury dominance — and what that means for every asset you own

• Why $15,000 gold, $400 silver, and $1 million Bitcoin are the numbers that balance America's books

This is one of the most different and challenging takes on Bitcoin you will hear all year. Whether you agree or not, you will not look at the market the same way afterward.