The Sovereign Individual in the Bitcoin Era | Bitcoin 2026

Hello everybody. [applause] Hi. >> What's up? >> Well, I brought some books and I hope you guys are familiar with this book, but we'll talk about it more in the panel. Well, ladies and gentlemen, appreciate you all being here today. Um, ladies, thank you for joining me. I would like to introduce Michelle and Jennifer. Ladies, can you give yourself an intro, please? Yeah, great to be here with you. My name is Michelle. I am a product I do product development for one of the original Bitcoin ATM companies in the United States. I spent more than a decade in Washington DC working with the elite. I fled to Dubai to try and get out of that. Got recruited deeper into it. Ended up working in China and eventually really burnt out of it all. And now I am retired in Florida where I work with these wonderful guys at Bite Federal and we are fighting the war on cash. It's really great to be here and I think this is going to be a great panel. Thank you. So hi, I'm Jennifer Harding Marlin. I'm a Canadian and St. Kits attorney. I founded the law firm JH Marlin Law nearly a decade ago and we help with citizenship by investment. We arguably assisted the first investor in Bitcoin in the world, create a diversified passport portfolio. I've since gone on to found JH Marlin Global, a global mobility platform, and we help with citizenship by investment, residency by investment, citizenship by descent. And I'm super excited to be here with these ladies. Thank you. And I'm Katie from Citizen X, also known as Plan Bassport on Twitter. I've been moderating this panel since 2022 and even longer been helping Bitcoiners to get a second citizenship on their journey to become more sovereign and this is what we're going to be talking about today. So this panel is called sovereign individual in the Bitcoin era. If you guys are not familiar, let me actually understand the audience. How many of you understand the concept of sovereign individual or read the book of sovereign individual? Let's go. All right. Um I actually have some books to give out so if anybody wants a copy. Um so yeah sovereign individual was written in 1977. I was barely born. Um but they precisely predicted Bitcoin. They didn't say Bitcoin but they predicted digital borderless money not issued by any government that it will be internet native. Um but another thing that we want to talk about today is what's described in the end of nation state paragraph of the book. Uh basically once the money are global borderless the capital and talent become so mobile that nation states now have to compete for individuals for citizens for their capital and talent. And um ladies I want to ask you uh it feels like right now the the countries the global world is separated on carrot and stick countries right sovereign individual talking about attracting citizens but seems like we're having to see more stick rather than a carrot there's a lot of sticks and I'll tell you what the United States is leading the stick category unfortunately uh a lot of people here at the conference are talking about the end of choke point 2.0. But the war on Bitcoin is absolutely not over. There's a lot happening regulatory. There's a lot happening behind the scenes. I know that these ladies see it when they are working with people who are exploring options to leave the country. And I'm seeing it at work every single day. We have to deal with the regulations that get put in place. Um, and the United States is banning more and more categories of sovereign options. They are looking to outright ban Bitcoin ATMs, which is what we do, because they don't want anyone to facilitate cra cash transactions. It's too hard for them to spy on those transactions. So, they're shutting down some of the very last on-ramps that you can use to get into Bitcoin uh without being fully surveiled. You're still a little surveiled. Um but there are so many sticks happening and I think unfortunately you know most people are not um alphabet regulation experts so they have no idea that it's happening and then one day the laws come into place and and they're blindsided. So I would warn everyone to really pay as much attention as you can um and pay attention to the alarms that you're seeing online because the war on Bitcoin is not over. In fact, I think it's probably escalating. Jennifer, what do you see in the matter of capital and talent flow in terms of carrot and stick countries? >> Yeah, so she talked a bit about stick countries. I might talk a little bit more about carrot countries. Um, so there are certain countries around the world that are trying to attract international investors and to have people invest and build up the country. And so some of these like either through citizenship by investment, residency by investment, tax incentives or enterprise zones are trying to attract more wealth into the country. Um so there are certain countries that are more pro Bitcoin than others. And so some of the countries uh that we're seeing people relocate to and or do citizenship or residency in um include Panama, Paraguay, Antiggon, Barbuta, St. Kitanas, El Salvador and other countries. So while some countries are, you know, increasing regul regulation, increasing taxation, making it more difficult um for Bitcoiners, there are certain countries around the world that are trying to attract Bitcoiners. >> And you know what's interesting in this u whole world of immigration, if you look at the global migration, countries like Canada are still having a lot of people incoming. But if you look at at the wealthy, the actual capital, those those are like Canary in a cold mine, right? Those are the first ones to leave because they know what's happening. So while Canada is still attracting tons of entrepreneurs, young talent, young professionals, you see the wealthies, the wealthy are running. They're leaving Canada so quickly. This is crazy. UK is leading that capital exodus. Um so yeah, Canar in a cold mine that that shows right there. Um I have another question regarding you talked about regulation and how the war on Bitcoin is absolutely no over not over 6102 again everybody familiar with 6102 the confiscation of uh gold that took place in the previous crisis so is it possible in the US is it coming how would this possibly unfold like we have the sovereign money in self-custody is 6102 even possible and how would this happen here? >> Yeah, it's a great question. I think it's well, is it possible that they enact the regulation? Absolutely. Can they force your hand? It gets more gray area, right? Will you comply? The the problem is is they don't need everyone to comply. So, you have everyone on the internet screaming that Bitcoin doesn't care and that my Bitcoin's in cold storage. Um, but unfortunately, they know where you live and they can show up at your house, right? So, you can refuse to comply. Um, but they can also take some people and put them in jail. Uh, I believe when they 6102 gold, there was only like a 20 or 30% or less compliance rate. So, they don't need a lot of people to comply. Um, I think, you know, politics is is kind of a pendulum swinging back and forth. I think we're going to get a swing in the other direction and that it's very likely in that moment they will try something like a 6102. So, I think it's very likely I trust Bitcoiners not to comply, but at the same time, uh, if you've KYCed your Bitcoin and you've bought it with an on-ramp, then they have your address, they know where you live, and it's possible that even though you choose not to comply, they show up and knock on your door. My question is, what do you do then? Right? So, to all the people who say, "Well, we will not comply. We don't need to fight. We don't need to worry about the politicians and their laws and all of that stuff." That's all well and good while you're running your mouth on the internet. But when they come and knock on your door, what is your plan? >> The plan B passport. >> That's right, folks. >> Yeah. And those swings, they just keep getting longer and bigger. And um another question I want to ask, there's this concept of forth turning. And if you look at the history, the the history moves in cycles. We have this high America of 1950s. Everybody's happy. Everybody's excited. Big trust in institutions and like unity. uh united enemy, the Soviets of course um and everybody's just feeling aligned. Then we start questioning things and by the time we get to 2008 the crisis begins again. And the previous crisis was 1929 to 1945 and you can see how during those times the borders just got completely redone. the game board has completely changed and the only people that came out of this for turning on top were the people with optionality. People who held gold outside of government promises and people who had access to a safe jurisdiction. So if we keep moving in this direction and get to the culmination of this fourth turning in the next six years, that basically covers the end of this presidency cycle and the next swing in the other direction. And I think that swing is going to be so far gone that we might finally wake up. >> If you are an American citizen, you might want to check out some countries that don't extradite. >> Want to comment on that? No, I was good. Um, yeah. Yeah. So, I don't I don't think that governments are completely powerless. Um I I think that they'll be like choke holds uh on Bitcoin, whether that's through KYC um on ramping on ramping and off-ramping Bitcoin. Um so, the people that plan early in advance um before the exit doors become jam-packed are the people that are going to succeed over the next five to six years as we're seeing a lot of uncertainty, a lot of tension. Um yeah. So there >> yeah and sometimes people see you can stay and fight or you can leave and escape. Well sometimes it's much easier to fight from the outside. People talking about stay and fight as it's a movement but what if it's you targeted individually like it doesn't become a movement. You have to protect yourself and your family and it is much easier to fight that fight from a safe jurisdiction where you have access to a phone, access to a lawyer. So yeah, you set this plan B in place before you actually need it. So then you have optionality to pick and choose what your course of action is going to be. Um something well let's talk about those six countries though. So I don't want to be all negative about it because there are nice places. There are places that truly attract capital, truly attract Bitcoiners these days. Um, I'm certainly very much into El Salvador and uh, Yay. Yeah, I'm It's clearly amazing seeing what's been happening there over the last six years. The change is something that nobody could predict. And this is specifically the sovereign individual thesis playing out because all he is doing attracting people with policies. It's like you want to build on Bitcoin, we got the special law for you. come, we'll make it easy. We'll make make it not a bureaucratic nightmare like the one you are living through. Um they say you want to bring in some capital to become citizen of El Salvador, please let's get that done. Um so what other countries do you see are attracting those sovereign individual? How is this playing out on the ground? Like are there communities? Are these people trying to integrate in a local in a local life? What do you guys expect? Yeah. So I spend time visiting El Salvador and I can say it's absolutely amazing the transformation that El Salvador has undergone. There's a huge Bitcoin community uh very supportive for developers and people that wish to relocate to El Salvador. I personally live in the Caribbean in St. Kitan so we help a lot of people relocate to the Caribbean and there's a growing Bitcoin community there. Uh it's smaller but um that's just one of the countries amongst other countries that we've seen Bitcoiners go to. >> Zero capital gains tax obviously. It's tax friendly and that's what inspired me to go to move to the Caribbean um like over a decade ago >> plus one for El Salvador. It's incredible. I've been down there many times and like you said it's absolutely the sovereign thesis playing out. Uh we are looking at opening up offices down there and you know hedging geopolitically. I I'm not as well-versed on the country specifically as these ladies are. But what I will say is I think what you said earlier about um capital exits is really important to watch and what we see just categorically is that most of the western countries that people used to want to flee to those are the ones in decline right so don't take anything that you thought that you knew um don't take it for for granted like do new research there are new places coming I think there's going to new be new places on the grid that are countries we've never heard of like I don't know Can you yet get a passport? Do Bhutan. But it's something I'm watching, right? And so everything is changing geopolitically. And so it's important to just kind of follow folks like these ladies and keep up on like where the capital is going and follow the smart money. >> And again, picking the right jurisdiction is very important, but also second password is a second password. The way I say that specifically, you don't know who's going to be on top in six years. So you might have a crystal ball. You might be following geopolitics on Twitter precisely and you might have a good guess on what will be a safe jurisdiction, a safe heaven in the next 6 to 10 to 15 years. Uh but one one of the important things that I say is second passport is a second passport. like probably 30% of you sitting here today is eligible to claim European passport through your great grandparents etc. And this might not be the jurisdiction you want to go to right now because their policies do not look attractive but keep this nationality running in your family so your kids have option to go there or maybe their kids have the optionality to go there. Um, another thing we're seeing, the African passports for sale now. So again, it might not be the jurisdiction you want to go to, but if your home country passport gets revoked, you have a second set of documents to travel to cross the borders to get to a safe jurisdiction. So what I wanted to ask you ladies, what other sovereign tools should a sovereign individual consider? Because u obviously we made it our life work to sell citizenships. We think that Passport is the ultimate tool. Passport and Bitcoin. I truly believe those this is the combo that will save you in this crisis. Uh but there are definitely other tools in a sovereign individual toolbox. So what would you consider importing looking into? >> Yeah. So I think Bitcoin is just one piece of the puzzle and a second passport gives you more optionality um and more mobility and um sorry >> it's okay. Bitcoin in self- custody. Super important. Even if they show up at your door, right? You have options. If you have another passport, your Bitcoin is in self- custody. You might be long gone by the time they show up at your door, right? So, that's really, really high up there, I'd say. I mean, residencies, they're still a very solid tool in a sovereign individual toolbox. Again, it's not going to be the document that gets you across the border, but it is your access to a safe jurisdiction and your ability to work and leave there full-time if you need to. Many people, I'm sure you're seeing it, Jennifer, they're getting a second citizenship from a country they never want to go to, and then they get a residency from the country where they like the lifestyle. They can build the family life there. And uh it's like a perfect trifecta. Um, >> I think one thing that's important to consider if you've got Bitcoin in self-custody and you're maybe new to exploring a second passport, maybe you're not ready yet. Uh, one thing that you can start to do is like prepare your life, prepare your digital life, right? Like who do you bank with? Um, are they international? Will they let you send funds international? Are they online only? I highly recommend not having any services that are only accessible online. Um, that's maybe its own tangent, but I think like getting your life in order and particularly as that relates to things that are happening online is something that's super important that you can prepare now even if you're not ready to commit to a second passport. And I think just doing a self audit of your lifestyle, where you live, where you bank, where you want to live in the future, the safety of your children, and also considering perhaps making your plan B your plan A if you actually have to relocate to that country one day on a moment's notice to have a local connection in the country that you want to go to, uh, to be able to do banking, set up a business, be able to make sure that you yourself can be mobile and your business can be mobile as well. >> Yeah. And Jennifer, you got to actually build a tribe where you are right now. I always say that tribe is another flag in this so over individual toolbox. Um being able to access people that are like-minded with you, not being lost in the new jurisdiction. Um was it hard? Is the community strong? Do you feel like you're in a tiny bubble in St. Kids or are you comfortable there? So I know some of you on stage have traveled to the country. Um it is a small the population is 55,000. There is quite a few really big Bitcoiners. A lot of people have relocated in 2013, 2014 when I relocated. Um, and it is a growing community. People can transact in Bitcoin. It's not necessarily widespread, but uh I know of people that have purchased real estate using their Bitcoin locally. The Bitcoin community is really strong globally, right? And so I encourage everybody to lean into those relationships because you never know when you might show up on a random island and and meet a long-lost friend or make a new friend. Um, and those connections can be very important as Katie referenced. >> Yeah, I've lived through a couple of immigrations myself. So, immigration is a skill and the local community definitely makes it much easier for you just being able to ask questions from people who leave through the same experience you're about to leave through. And um, obviously that's why it's so easy to relocate to El Salvador already because over the last four years, everybody done that. And there's uh, lots of content out there. There are services specifically helping you with this relocation and then on top of it they're building specifically expert targeted services like schooling system, medical system, things that you're familiar with that not necessarily seem foreign in a foreign country. So yeah, as you mentioned St. Kids has adapted to those people who fled the the stick countries to the to the carrot country. Um, and I think we're seeing it in quite a few countries in Latin America. I think this definitely the the continent of the world I'm very very curious about right now. Well, first of all, they're the only one not at war. So, that's that's a big one. Um, but yeah, it's really curious to see how many people relocate down south and build a life there from scratch. Yeah, like from El Salvador to Panama to Paraguay has a big Bitcoin community. Costa Rica has a big Bitcoin community. And we're seeing a lot of people relocate to South America specifically to be in a community of people that support Bitcoin uh to create Bitcoin ecosystems and to have access to services um in those areas. All right, how about we we all take two minutes for a rant to encourage people to actually take an action on this sovereign individual journey. >> Welcome to predict. The world is a market. Everything is a market. Every headline moves the line. Every moment is your market. Call the moves. Bet on your instinct, your prediction, your edge. Dual bits. Predict where everything is a market. >> You got to start with a rant. Michelle is really good at rants. >> I am good at ranting. I wasn't prepared for this one though. Okay, so the war on Bitcoin is not over. I'm going to go back to that, right? Because that is just like hot on my mind. Um hot it is all that we deal with all day every day is getting audited. Um getting in trouble for for things that we didn't do well enough, right? Like the government in the United States and in most of the western countries if you look at the EU if you look at all these countries that were like formerly great where everybody wanted to go their governments are so massive you can't do anything you can't just open a company you can't just run a company you can't just live your life and some of them you can't even post a meme anymore right like the governments are getting so completely out of control I do product development but what I really do is deal with regulation because we build a product and all of the sudden the regulators in big tech are like, "Oh, you can't put that button there. It can't be in that font." I mean, these are the things that they're coming after, right? The font size is too big. Your your compliance language needs to be in bigger fonts. Your buttons are too big. They're too flashy. They're the wrong color. I'm not exaggerating. Like, this is the level to which the government has gone. And we know historically that once governments get this level of power, they don't ever give it back up, right? So I don't want to say like it's over, but it's probably over, which is why these ladies are thriving in their businesses. And I, you know, I mean, if you want to stay and fight and try and take some of the power back from the states, we're absolutely doing that. Like, we are not going to let them ban Bitcoin ATMs. Um, but eventually over a long enough time horizon, they're probably going to do it anyway, right? And that's why we now have ATMs in a bunch of new countries because you've got to hedge this stuff. Uh, the governments are not going to give up the power that they've taken. So, you need to look around and find new governments that have carrots and that are interested in allowing you to open and run businesses and live a life where you're thriving and you're free. So I would really encourage everybody to take this very seriously. >> There's more capital controls in certain countries making it really difficult to send funds internationally if you're doing an international wire for example. And a lot of countries are implementing more exit taxes making it more difficult for you to leave uh making it very very complicated and targeting people um that that want to leave the system. >> Yeah. And there those capital controls that you're referring to, they they trickle down, right? So like one of the things we're seeing is the reduction of limits. Like you used to be able to go to the bank and take out $10,000. Well, good luck doing that now, right? The limits are like two or $3,000. So those capital controls that you referenced, um I think a lot of people don't encounter them every day like in their day-to-day life until you go to do something and you're told, "Oh, you can't do that." Uh, and then you hit those walls that you've referenced. >> If only there was a highly liquid asset that you can have full custody of. >> What? >> Yeah. >> Well, um, my encouragement here is just take action. If you want to stay in fight, it's great. I also understand that you love your lifestyle. You've built your life where you at. You have relatives. You have multiple generations living together. And this is absolutely hard to leave. And I'm not saying you should. Maybe it's not the time yet. What I'm saying is get yourself that plan B in place. You can it can be step at a time. Not all the options out there are extremely expensive. There are not for a wealthy only. There are citizenship by descent options that you are eligible to claim today. There are residency program will that will cost you one week of groceries. So just start researching what is the best option for you. You can start small. You can take it step by step. By when the time comes, you will have the sovereign individual plan in place and you will be able to execute if you have to. And once you do that, it's like, okay, I have Bitcoin and self-custody. I don't care that much about this hyperinflation and capital control anymore. Well, guess what? Once you have this plan be in place, you will sleep better at night knowing that if you have to, you can leave tomorrow. If you have to, you can protect yourself from abroad. You you can hire a lawyer. you can withstand the force that can come at you from the nation state or from some party that you don't want to deal with and you will have this safety heaven for you to deal with that from. So my encouragement is reread sovereign individual um and start taking action step by step and we are obviously here to guide you through that. I can see our booth from right here. Um I have more sovereign individual copies at the booth so come and chat with us about that. Um, and yeah, I think we all have booths. You're here with a booth as well. >> We actually don't have a booth, but there's a bunch of us here. And if you want to learn more about the war on cash and the regulatory assault, feel free to grab me. I'm happy to talk to anybody. >> And we also have a booth that's located just behind here if anyone wants to meet in person. So, thank you so much. >> Thank you everybody. Can you take a picture, ladies? Every year this community comes together to [music] celebrate, to debate, to build what comes next. [music] And every year the stage [music] gets bigger. Sound money center stage. [music] So, where do you go to celebrate the next chapter in Bitcoin history? You come home. [music] Nashville, July 2027.