Larry Lepard, Bob Burnett and Gary Leland on the September move: Bitcoin caught air off 62 and ran to 81 before settling near 77, the Fed's rate decision, Treasury buybacks tripling to $6 billion, and why half the people mining Bitcoin are probably losing money right now.

Larry's call: $180,000 by the end of 2027. Bob's view from inside mining: the median cost of production is in the mid $60,000s, and spot is barely above it. And for anyone still waiting for $50,000 — Larry has a two-word answer.

Plus: the fourth Boomer joins us from an elk camp in Colorado.

00:00 Give up. You missed it.

00:49 Gary's back, George is hunting

01:19 The fourth Boomer, from an elk camp

06:00 Bitcoin caught air: 62 to 81 to 77

06:32 The yen, FIMA, and Bessent's bigger boat

09:29 Warsh the hawk

11:59 The flag and the $5,000 dividend

13:18 Miner P&L

16:29 Bitcoin decouples from the Nasdaq

18:29 The AI trade peaks

22:10 Public miners go hyperscale

25:10 Larry's call: $180K by 2027

26:13 "Give up. You missed it."

29:12 Cost of production

32:16 Energy costs

35:06 Year-end predictions

37:43 "I'm not a financial advisor." "Well, I am."

Thanks to our sponsors:

Ledn — don't sell your Bitcoin, borrow against it → ledn.io/boomersSwan — real Bitcoin, in your name → swan.com/boomersSazmining — own the rig, not the output → sazmining.com/boomers

Nothing here is financial advice. Everyone's situation is different.