Welcome to The Thinking Crypto Podcasts. You're home for cryptocurrency news and interviews.
If you are new here, please hit that subscribe button as well as the
thumbs up button and leave a comment below. If you're listening on a podcast
platform such as Spotify or Apple, please leave a five star rating and review.
It supports the podcast and it doesn't cost you anything. Well, folks,
let's start by taking a look at the price of bitcoin right now,
sitting at sixty nine thousand, five hundred and forty nine dollars. Guys,
what have I been saying for the past month that bitcoin was due for some
sort of pullback. We hit some sort of local top. I said,
I didn't know exactly where, but just be prepared for it. And it
looks like the local top is coming in here now. We have to give
it some time. It looked Bitcoin to surprises and bounce off here or it
could keep going lower. Make no mistake about it. We are in a
bull market. We are in a up trend. So I am into diicipating
higher prices this year as well as twenty twenty five. If we don't see
the blow off top in twenty twenty four. But bitcoin cannot move up in
a straight line. You go back and look at all the previous bull markets.
There have been twenty to thirty percent corrections and pullbacks along the way on
the way up. This happens in a ballmarket, so we have to be
patient. One of the key metrics I've been telling you guys to pay attention
to was the dxy and the dxy and the daily is finding support. It's
bouncing upwards. I do anticipate it will continue to break downwards, which is
great for risk assets like bitcoin and all coins. So we got to be
patient. And this is just healthy, folks. It's flushing out a lot
of leverage. We're building support levels so that we can bounce off those supports
and keep going higher. So once you understand these market principles, you know
what your strategy is. You're able to exercise patients and not be scared and
not be moving by your emotions. Just stay calm, let big coin do
its thing. You know, experience is a great teacher, and when you've
been here for multiple cycles, my OG's know what I'm talking about. These
little pullbacks and corrections are nothing because we're looking at the macro zooming out.
When in down, zoom out, and we are any up trend. We
are in a bullmarket, so we've got to be patient here. With that
said, though, as Bitcoin cools off, Solana continues to rip. It's
at one hundred and eighty one dollars right now, up near twenty four percent
over the past seven days, so that's pretty incredible. Meme coins are going
crazy. Actually, Avalanche or avax is going crazy as well. At number
ten. It took retook that number ten spot from shiba Enu, so we'll
see. We'll see what happens here. Liquidity may be flowing down from Bitcoin,
making its way out of Bitcoin to the all coins, so expect some
of these all coins to start moving significantly. Now, let's think look at
what are the top trending tokens on social media. The first is Boom or
Book of Meme. The mean coins continue to dominate here and Boem has significant,
significant social mentions and highly positive sentiment. So you may say, what
the hell is Bowman, why is it trending? Well, the word Boom
is trending due to the recent purchase and gains made by individuals investing in the
Book of Boem cryptocurrency. There is excitement for the quick rises in the value
associated with meme coins like Boom Boom token experience a frenzy and skyrocket by over
three thousand percent, causing a buzz in the crypto market. So it's getting
just the meme coin treatment here, right, It's going crazy and everybody starts
talking about it. Coming in and number two is BSV with a very negative
sentiment because Craig Wright got smacked by the judge yesterday. The news broke that
he's not Satoshi, he did not write the white paper and much more.
Coming in at number three is Say with strong positive sentiment. Number four Confluts
Network or the CFX is a token with strong positive sentiment. Jupiter comes in
at number six, year with good positive sentiment than the Emoji network. It
looks like another meme coin here, which has a ticker symbol of lol,
and then Ethereum comes in at seven. Blocknet comes in at number eight with
negative sentiment, having the higher percentage on the negative side. Arbitrump is popping
up here at fifty six percent positive sentiment, and base Protocol number ten with
positive sentiment as well. So those are your top trending coins on social media
now. Let's take a look at the news here. Bitcoin has already surpassed
gold in investor portfolio allocation, says JP Morgan. Folks Peter Schiff is not
happy when he hears this news. Of course, now they're not saying that
bitcoins aum has surpassed goal. They're just saying the investor portfolio allocation. So
here's the details from JP Morgan Managing director Nicholas P. I'm not going to
try to pronounce his last name. He said that when adjusting for volatility,
Bitcoin's allocation in investor portfolios has already outpaced that of gold. Specifically, the
flagship cryptocurrency has a three point seven times greater allocation compared to the bullyon.
He highlighted a net inflow of nine billion dollars into Bitcoin ETF since their inception,
accounting for outflows from greyscale, and suggests a potential Bitcoin ETF market size
could reach sixty two billion dollars if gold is used as a benchmark. February
marked one of the most optimistic periods for the cryptocurrency market, with the total
market capitalization surging by nearly forty percent month over month to two point two trillion
dollars, folks. I believe bitcoin's going to surpass gold in AUM by the
twenty thirty bull market because we're just in the early innings of these ETFs,
and I don't think it's possible in this cycle, but definitely twenty thirty and
beyond, and that's gonna be significant. This is why there's some Bitcoin that
I'm not selling. I'm holding on to it. Don't get me wrong.
I'm going to be selling a good amount as we hit six figures this market
cycle and take my profits. But there's some I'm just leaving on a hardware
wallet and it'll go to my daughter and things like that that I'm not selling
because I believe bitcoin is digital goal. It's going to come after the AUM
of actual gold, and that's going to be a significant day when that happens.
We saw just recently bitcoins are passed silver from a market cap standpoint,
so incredible. What's happening now? We've got some interesting news from Grayscale regarding
the Ethereum spot ETF. Greig Salam, who's the chief legal officer at Grayscale,
tweeted out, we just filed Grayscale Etheroreum trust amended nineteen b that war
filing. This is an important step in our effort to uplist the eth Trust
to the nyse Arcap. Investors want and deserve access to Etherorem in the form
of a spot Etherorem ETF, and we believe the case is just as strong
as it was for the spot bitcoin ETFs. So he shared the details here
of their updated filing. But you know, the challenges as what we've been
talking about is chair againster scumbag regulator Gary Genser has not echoed the statements of
j. Clayton and Bill Himmon of Etherorem being not a security and even before
Congress when he was asked by Patrick McHenry is a theorem of security? He
didn't even want to answer, right, So we're in a very interesting dynamic.
The other aspect is we saw two senators yesterday who were certainly coerced by
Elizabeth Warren and Gary Ginser sent a letter to the sec saying don't approve any
more ETF. So that means no Etherorem, no other coins. And I
think Gary is afraid that if he allows this etheroremy to have to go forward,
it gives the green light to the other all coins by default because the
theorem is an all coin. So there's a lot of implications here and I
think he's not going to give in. I think he's going to want to
go to court again with this guy's scumbag and he's operating under Elizabeth Warren.
And they don't care about the law. They'll break the law just to delay
things and do whatever they want. We've seen that time and time again.
You have different judges calling out the SEC. I mean they got called arbitrary
and capricious for not approving the big coins body TF and the Ripple lawsuit.
Judge Sarah att Burn said the SEC lacks a faithful allegiance to the law and
in the debt box situation, the SEC lawyers lied to the court where the
judge was like, I'm going to sanction you guys. And when the judge
said I'm going to sanction you, the SEC pulled out right because they know
they were in trouble. My point is they don't care about the law.
They will trample over the law of the land to just get their way.
And this is the corruption we're dealing with here and why we got to keep
fighting back now. Nick Garachi of the etf store. He said the following
amended nineteen b Dash four filed to uplist Gray Scales ether Trust. So prospective
issuers clearly aren't throwing in the towel on this. It might take Grayscale paving
another regulatory path here like they did with the spot by Cornytis. So I
think he's right. Grayscale is going to have to take the SEC to court
again, but we will win because the law is on our side. So
they got to keep fighting. But unfortunately scumbag regulator Gary Answer is not going
to give in that easily. Now, speaking of etherorem and build him in
Jay Clayton. Empower Oversight, which is the whistleblower organization nonprofit that has been
exposing the SEC and their corruption, but not only the SEC. They go
after every government agency that is not doing the right thing, that is breaking
the law, that's abusing their powers, and so forth. Well, Tristan
Evitt, who's the president of Empower Oversight, tweeted the following Today he said,
Empower's fight for transparency at the SEC continues. The more we learn,
the worse the conflicts of interests. Look, he's talking about Bill Himman,
of course, So he tweeted us out today and let me give you some
more details, he said. We've learned a lot from our prior Foyer requests,
such as how Hedge Fund Andresen Howritz arranged a meeting for parties to advocate
to Hinman that Ether wasn't a security, and then after Hinman declared in twenty
eighteen what they wanted, hired him as an advisor when he left the SEC.
We've also learned that the venture capital firm former SEC chair Jay Clayton became
an advisor to Electric Capital, has invested in the developer of Ether, which
is Consensus. Electric Capital was formed during Clayton's tenure. What interactions did he
have with them as SEC chair? So they sent some additional Foyer requests and
things along those lines at the SEC to provide all the communications. So we
have to wait for those documents to come out. But clearly here man,
you just see how rotten the SEC is. Now. Some people are going
to get mad at Vitallic and Joe Lubin and Andresa Howritz. I'm not so
much mad at them because they are just trying to see how far they can
push things. And if Bill Hinman was not someone who could be compromised and
so forth. Right, then they wouldn't have gotten anywhere. The accountability lies
on the government official who are supposed to uphold the law, who are getting
funded by our taxpayer dollars, and they're the ones that are breaking the law
and having conflicts of interest. Bill Hinman was warned by the SEC Ethics Office
about these things. He ignored it. So I'm not so much. I
don't really care about Intries and Howrodz. I don't really care about what Vitalic
is doing because at the end of the day, it goes back to who
was actually compromised here the SEC, and that's who I'm pissed off at.
That's because my tax dollars are funding that, and it's unbelievable. These people
who are supposed to be in government office and hold these positions and uphold the
law are clearly not doing that, and that's pathetic. Now. A great
way for change, though, is to bring in people who have the right
ethics, who support crypto and understand technology, who are forward thinking, and
that is for example, John Deaton, who's running against Elizabeth Warren in Massachusetts.
Now, John tweeted out the following today It was an article from the
Boston Globe talking about the crypto industry supporting John and going against Elizabeth Warren.
He said, grateful for the support from these disruptive leaders. He tagged Mark
Cuban, Charles Hoskinson, Perry and Boring of the Chamber of Digital Commerce,
and Anthony Scaramucci. So this is really great, guys. John is getting
more coverage, more exposure, and Elizabeth Warren is scared. We've seen her
multiple emails as soon as John announced his run trying to raise funds. He
tried to get these other Democrats to come helper from other states, and in
fact, we talked about it. I think earlier this week there's a supposed
Democrat, pro crypto, pro blockchain guy that is going to run against Elizabeth
Warren and he's Republican, yet his history shows he's a Democrat, And I
said, I think that guy's a plant. I could be wrong, but
he looks like a plant because his photos of him and Elizabeth Warren and Biden
and so forth. So we're in for a battle. We got to support
John. Please donate to John. You can go check out his profile here.
Deaton for Senate on X, also known as Twitter and you know,
go donate to him. I donate to him and spread the word, amplify,
use social media to amplify his message so we can get him to go
and take that seat away from Elizabeth Warren. That quick word from our sponsor,
and that is Bitgo. Bitco is one of the top tier crypto custodians
in the crypto industry. They've been here for a long time, going through
the bull and bear markets, and many industry leaders trust Bitgo. Pantera Capital
is one of their clients. That's Dan moorehead his hedge fund, bitstamped the
exchange, Bitcoin Ira, Maple Finance, and Nike even selected bitgo for their
wallet service for their NFTs and so forth. So some of the services that
bitgo offers includes hot wallets, custodial wallets, self managed cold wallets, NFT
wallets, and they're headed up by Mike Belshie who's a web one point zero
and two point zero legend. And now bitco has the top tier of technology,
security and much more and fully regulated insurance and all that jazz. So
if you'd like to learn more about bitgo, visit bitgo dot com, linklebeat
and description. Now some interesting news coming out of Dubai. We are seeing
the move towards crypto globally and regulations being established. Folks. They're not banning
it, they're embracing it, and they're going to tax it. Of course,
they're going to put their regulations in place. So Dubai's DFC passes comprehensive
Digital Asset law new security law. The center claims it has created the world's
first comprehensive set of legal characteristics of digital assets as property in a new short
law. We still can't get bills out of the house here in the United
States. While the UK has passed regulations, the EU has passed regulations,
Dubai is doing its things, so we are seeing the world move ahead here.
So the Dubai International Financial Center, also known as DIIFC, a special
economic zone with over five thousand residents, has announced the passage of a new
digital Assets law and security law and amendments to the existing law. The legislative
development seek to keep pace with the rapid developments in international trade and financial markets
and to provide legal clarity for investors and users of digital assets. According to
the statement, DIFC authority Chief Legal Officer Jackies Visser said, we consider this
legislation to be groundbreaking as the first legislative enactment to intensively set out the legal
characteristics of digital assets as a matter of property law. Amazing, folks,
what's happening globally. This is why I'm so bullish. These governments are embracing
it. Big money is embracing this technology. It's the future. It's the
next layer on top of the Internet, and it's great to see. The
world is moving ahead. And I've often stated this is not a US asset
class. This is a global asset class. And you can be in any
part of the world, doesn't matter where you're at. If you have an
Internet connection, you can go buy a fraction of bitcoiny theorem XRP card on
or whatever it is. You can put as little bit as ten bucks,
and you are part of the network, the financial network. There's never been
anything like this in the history of the world. Even though people may have
let's say gold in every part of the world, there's no way to see
the real time supply and real time transactions and how many is being mined right
because there was no internet or no blockchain. Now, don't get me wrong,
there is tokenisation of gold, but still it's not fully digital where you
can see once again, I can go on the bitcoin blockchain, see the
transaction, see the walllet addresses, see what's being mine, all that stuff.
It's incredible, and it's that uncorruptible ledger that's borier, less immutable,
and much more. And obviously it's much more in bitcoin, right there's a
smart contract, blockchains, payment blockchains and much more so, a paradigm shift,
folks. Incredible. This is why there's so many opportunities here, and
the upside is exponential because you have so many people across the globe that can
access this acid class. They don't have to be an accredited investor, they
don't have to be a hedge fund or whatever it is. There's no laws
that say, hey, you can't buy this stock because you're in this jurisdiction.
No, you can log on and buy some bitcoin in your local fiat
currency, right, and there's so many on ramps being built right now for
that. Now, we got news here that Sam Bechburn freed, could face
forty to fifty years in prison. Prosecutors argue his sentencing, of course,
is this month, folks. So here's a quote because of his wilful role
in orchestrating one of the largest financial frauds in history. The government's lawyers said
SBF deserves a severe sanction proportionate to his role in this historic fraud. So
we know Sam right now. He's in jail. I think Tiffany Fong and
some folks have shared photos of him with the other inmates. Now, will
he get forty to fifty years, I don't think so. I would be
surprised. I think he probably gets maybe thirty twenty five to thirty. But
make no mistake about it, he has to go to jail. I mean,
the guy's committing straight up fraud, right, he's the burning made off
of crypto. Now, what he did was just old fashioned fraud. It
had nothing to do with crypto. They were just they were co mingling funds
and doing all kinds of things. And look, part of it was the
regulators failed. He was meeting with Gary Genser, he was in DC meeting
with different people the SEC. It was rumored they were going to give him
the broker dealer license FTX, that is that they gave to Prometheum, so
he would have had a monopoly. So just a mess and I think once
the sentencing is done, we would be finally over with FTX. Some people
are saying, look, his parents should be charged to maybe, you know,
we have to see all the facts there. But I think once his
trial is done, then it's done. And look, Alex Mashinski also has
to get held accountable. But FTX Sam is the face of what happened in
the last bear market and all the collapses, right, so I think with
him going to jail, the ETFs and all these things happening, it would
be something that we put behind us and continue to move forward. But look,
you do the crime, you paid the time, right, and he's
gonna have to pay for all the lies and all the stealing people's funds and
much more, billions billions of dollars right, unbelievable. All right, guys,
that's the news. Let me know what you think. Leave your thoughts
and comments below. Hit the thumb this up button. If you're listening on
to podcast platforms, hit that five star rating, leave a review. Please
don't forget to subscribe for my free email newsletter on substack, linking and description.
Follow me on all social media platforms as well. Guys, TikTok Instagram,
LinkedIn, Facebook, Twitter, x and much more. It really helps
to support the podcast. It doesn't cost you anything, it doesn't take a
dollar out of your pocket. It just takes you a minute to go follow
and subscribe. And I appreciate you guys, Thank you for watching and listening,
and I'll talk to you all later