WEBVTT

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<v Speaker 1>Hey everyone, Welcome back to The Thinking Crypto Podcasts. You're

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<v Speaker 1>home for cryptocurrency news and interviews. I'm your host, Tony Edward.

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<v Speaker 1>On your way in. Please let that subscribe button as

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<v Speaker 1>well as a thumbs up button and leave a common below.

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<v Speaker 1>If you're listening on a podcast platform such as Spotify

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<v Speaker 1>or Apple, please leave a five star rating and review. Okay, folks,

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<v Speaker 1>Bitcoin continues to show strength. At the time we're recording,

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<v Speaker 1>it's over eighty one thousand dollars, so exactly eighty one thousand,

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<v Speaker 1>two hundred and forty dollars, so we're still in that

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<v Speaker 1>rising channel. We expect bitcoin to top maybe about eighty

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<v Speaker 1>four eighty five k if it does get that high.

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<v Speaker 1>You know, there are no guarantees here, just probabilities. But bitcoin,

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<v Speaker 1>there is a CMME gap if I'm not mistaken, between

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<v Speaker 1>eighty two thousand and eighty four thousand. So let's see

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<v Speaker 1>how high we go. Bitcoin could potentially overshoot, go to

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<v Speaker 1>eighty seven possibly ninety. You know, some analysts are saying

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<v Speaker 1>it could get that high, but again no guarantees. One

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<v Speaker 1>thing we do have to watch out for is Bitcoin

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<v Speaker 1>is approaching the overbought zones that RSI is approaching seventy,

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<v Speaker 1>So if you know your signals and metrics, you know

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<v Speaker 1>that seventy is where we're overbought and thirty is where

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<v Speaker 1>we're over sold. Now it can overshoot those numbers, so

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<v Speaker 1>it can go to eighty right and then pull back.

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<v Speaker 1>So we're gonna have to wait and see. However, if

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<v Speaker 1>Bitcoin is going to cool off very soon, which it

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<v Speaker 1>looks like it will, I think we're gonna see some

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<v Speaker 1>all coins start to run, so the alts will have

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<v Speaker 1>a relief rally. Now does that mean every single all

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<v Speaker 1>coin in the market's gonna pump? Of course not right.

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<v Speaker 1>I do believe your major all coins, your large caps, midcaps,

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<v Speaker 1>and so forth are gonna start to move. So ethereum

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<v Speaker 1>Salona XRP, I think pretty much the coins in the

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<v Speaker 1>top fifteen to twenty will start to move, and then

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<v Speaker 1>you could see certain privacy coins I think that's still

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<v Speaker 1>a strong narrative, will start to move as well. So

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<v Speaker 1>if you look at the total three chart that is

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<v Speaker 1>looking bullish, the RSI still shows there's room to run here,

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<v Speaker 1>and the MACD has bullish similar to Bitcoin, and we're

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<v Speaker 1>seeing some upward movement here. So let's see how high

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<v Speaker 1>we go, guys, because it would be really nice to

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<v Speaker 1>have these alts catch up to Bitcoin, so to speak,

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<v Speaker 1>and we see a mini relief rally for these all coins. Obviously,

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<v Speaker 1>we hope that they outperform Bitcoin, which you know historically

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<v Speaker 1>we have seen him do that. Not all of them,

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<v Speaker 1>but you know, maybe eat Solona X repeating all outperform Bitcoin.

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<v Speaker 1>But again we shall see, but be prepared. I think

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<v Speaker 1>that we're gonna see some of these alts pop off again.

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<v Speaker 1>Not guaranteed, but this is a high probability in my opinion,

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<v Speaker 1>and that will be really good for many of us

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<v Speaker 1>who hold all coins. Obviously I hold bitcoin as well,

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<v Speaker 1>but I want to see my all coin portfolio start

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<v Speaker 1>to move as well. That would be really really nice. Now, guys,

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<v Speaker 1>we got some crazy news coming out from Michael Sailor.

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<v Speaker 1>Many of you know. He is, of course the founder

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<v Speaker 1>and the CEO of micro Strategy. I believe he did

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<v Speaker 1>step down from the CEO role, but nevertheless, the majority

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<v Speaker 1>of the company's lifespan he had being the CEO. And

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<v Speaker 1>you know, he has religiously and I use the word

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<v Speaker 1>religiously on purpose, because he has said we're never going

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<v Speaker 1>to sell bitcoin. You're an idiot if you sell. And

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<v Speaker 1>he's put out tons of propaganda. You look at his

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<v Speaker 1>Twitter feed as xual we never sell your bitcoin. He

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<v Speaker 1>would say, sell your kidney to get by bitcoin, mortgage

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<v Speaker 1>your house just by bitcoin, right, all crazy stuff which

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<v Speaker 1>I've criticized him and his followers all about over the years.

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<v Speaker 1>All of a sudden they're saying they may have to

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<v Speaker 1>sell and this is not a good sign, and they

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<v Speaker 1>may have to sell to funder dividends obligations. In fact,

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<v Speaker 1>it was reported that Strategy had a twelve point five

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<v Speaker 1>four billion dollar Q one loss. Guys, twelve billion dollar loss.

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<v Speaker 1>That is wild. So this is getting really scary here

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<v Speaker 1>for Michael Saylor. It seems there are some cracks in

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<v Speaker 1>the system. Now. I've been on record, I don't want

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<v Speaker 1>to see Strategy fail. But the things that are happening,

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<v Speaker 1>the amount of leverage. How many times have I talked

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<v Speaker 1>about that, guys, and I had people criticize me as well,

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<v Speaker 1>where I said, this is not good. The amount of

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<v Speaker 1>leverages guys using is insane. It's another two thousand and

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<v Speaker 1>eight type scenario. Leverage upon leverage. Right, It's one thing

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<v Speaker 1>to buy bitcoin, take some of the cash on your

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<v Speaker 1>balance sheet and buy bitcoin. It's another to go raise

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<v Speaker 1>obscene amounts of debt to buy bitcoin, and you put

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<v Speaker 1>yourself in this situation where the market is down. We're

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<v Speaker 1>in a bear market, and I'm sure they're feeling the pressure.

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<v Speaker 1>And then you launch you know, yield and dividends, and

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<v Speaker 1>all of a sudden you got to sell bitcoin. I

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<v Speaker 1>don't know, something's wrong here. My spidy sense is tingling

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<v Speaker 1>because this man has gone on TV and much more

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<v Speaker 1>say oh, we're fine. We can see a eighty ninety

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<v Speaker 1>percent drop in bitcoin and we will be fine. All

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<v Speaker 1>of a sudden, yeah, we're gonna have to sell some bitcoin,

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<v Speaker 1>So watch guys. This is no longer a bitcoin treasury

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<v Speaker 1>company in my opinion. You know, you look at a

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<v Speaker 1>great example would be like Tesla and SpaceX Elon took

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<v Speaker 1>some of the cash on the reserves of those companies

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<v Speaker 1>and bought some bitcoin, and that's it, right. The company

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<v Speaker 1>is still generating revenue from other things, car sales, YadA YadA,

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<v Speaker 1>and they're not putting all their cash. They still have

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<v Speaker 1>their operating cash. That's the smart way to do it.

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<v Speaker 1>What Sailor is doing is a very risky thing with

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<v Speaker 1>all that debt and this is not looking good. So

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<v Speaker 1>hopefully we don't have a collapse again. I'm not hoping

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<v Speaker 1>for that. I don't want that to happen because I

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<v Speaker 1>believe that would be really bad for bitcoin. Not that

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<v Speaker 1>it's gonna kill bitcoin, but you know, the narratives, the

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<v Speaker 1>news headlines. Can you imagine guys, right, it's gonna be

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<v Speaker 1>really rough, but you know, it could be. Let's say

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<v Speaker 1>he's in some sort of trouble. He could go to

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<v Speaker 1>black Rock, he can go to these big constitutions which

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<v Speaker 1>want to hold as much bitcoin, right and their ETFs

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<v Speaker 1>and much more, and maybe they bail him out or

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<v Speaker 1>they take it over. Right. I don't think he would

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<v Speaker 1>get to a point where the whole thing collapses. I

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<v Speaker 1>think the big institutions which are here and countries even

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<v Speaker 1>that are you know, looking to establish reserves. Or maybe

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<v Speaker 1>the US government, you know, steps in and they're like, okay,

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<v Speaker 1>sailor it looks like you are done here. We're going

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<v Speaker 1>to take over your bitcoin stash because we can't allow

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<v Speaker 1>this type of collapse. Right, that's a possibility. I'm not

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<v Speaker 1>saying it's going to happen, but that's a possibility. So

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<v Speaker 1>let's see what happens. This is this is certainly certainly

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<v Speaker 1>not good. And again, this man has been out there

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<v Speaker 1>tweeting out all types of ridiculous stuff, going on TV,

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<v Speaker 1>saying all types of ridiculous stuff, criticizing people, calling them

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<v Speaker 1>names about if they, you know, if they even think

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<v Speaker 1>about selling bitcoin. You never sell your bitcoin, and all

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<v Speaker 1>of a sudden he has to do it. So, uh,

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<v Speaker 1>these are signs of a bear market, folks, if you

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<v Speaker 1>didn't think we are in one, and look, it could

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<v Speaker 1>be we're coming out now, you know, with this rally.

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<v Speaker 1>But you know, potentially there is some downside that could happen.

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<v Speaker 1>But no one knows the exact future. We don't have

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<v Speaker 1>a crystal ball. So we're going to have to be

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<v Speaker 1>cautiously optimistic and vigilant here to see what may happen

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<v Speaker 1>as we head later into the year. Will Bitcoin have

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<v Speaker 1>a major correction, you know, go down and that forces

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<v Speaker 1>Sailor to start selling like crazy? We shall see now, folks.

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<v Speaker 1>Quick word from our sponsor. This episode is brought to

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<v Speaker 1>crypto trust bitgo. Okay, moving ahead, the CME Group is

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<v Speaker 1>going to launch Bitcoin volatility futures contracts on June first,

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<v Speaker 1>So we continue to see these trade fi institutions launch

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<v Speaker 1>all types of financial products around bitcoin and all coins.

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<v Speaker 1>Usually it starts a bitcoin and then they move to

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<v Speaker 1>all coins. So this is great. I think more financial products,

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<v Speaker 1>more on and off ramps is going to be good

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<v Speaker 1>to allow more capital to come in, especially as we

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<v Speaker 1>get the CLARITYAC pass, and that opens up more capital

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<v Speaker 1>to come in. And speaking of the Clarity Act, Senator

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<v Speaker 1>Bernie Moreno says they're going to mark up the Bitcoin

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<v Speaker 1>and Crypto market structure legislation next week. So folks, you know,

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<v Speaker 1>yesterday we talked about the banks trying to backtrack and

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<v Speaker 1>pull a fast one on a stable coin compromise, but

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<v Speaker 1>the senators who worked on that compromise said, no, we

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<v Speaker 1>agree to disagree. This thing's moving forward. So markup is important.

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<v Speaker 1>That's the first step in getting it going and then

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<v Speaker 1>eventually to a vote on the Senate floor and then

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<v Speaker 1>you know, to President Trump's desk. Here's a quote from

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<v Speaker 1>Senator Bernie Moreno. He said, we'll get it on the

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<v Speaker 1>President's desk before the end of June, and he'll sign

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<v Speaker 1>it into law before July fourth. That would be huge.

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<v Speaker 1>So let's see, guys. Hopefully, you know, we definitely hit

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<v Speaker 1>these deadlines. Even if it's a week or two off,

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<v Speaker 1>that's fine as long as we're moving in the right direction.

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<v Speaker 1>But this is really great to hear that the markup

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<v Speaker 1>is going to happen. And the prediction market odds have increased,

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<v Speaker 1>so polymarket is showing a seventy percent chance the Clarity

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<v Speaker 1>Act is signed into law this year. So very very

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<v Speaker 1>good stuff here. Now moving ahead, Cracking Exchange partners with

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<v Speaker 1>money Graham to enable crypto cash withdraws in one hundred

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<v Speaker 1>plus countries. Wow, talk about a major, major on and

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<v Speaker 1>off ramp here. This is huge. I think this is

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<v Speaker 1>a major strategic move by Cracking given the amount of

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<v Speaker 1>people that use money Gram to move money across the globe.

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<v Speaker 1>And you know, if you want to send folks crypto,

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<v Speaker 1>you know it will be an easy way for them

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<v Speaker 1>to transition into casher, you know, their respective fiat currency.

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<v Speaker 1>So there's going to be like the full on interoppability

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<v Speaker 1>between digital assets crypto into fiat currency. So this is

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<v Speaker 1>another major on and off ramp. And you know, we've

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<v Speaker 1>been talking a lot about Kracking looking to do their IPO.

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<v Speaker 1>They had to postpone some of it due to the

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<v Speaker 1>bear market. But you know, this is on deck ready

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<v Speaker 1>for better market conditions. And there's some other companies like

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<v Speaker 1>Securitize as well who are to go public. So we're

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<v Speaker 1>gonna see a lot of building guys, and I think, uh,

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<v Speaker 1>you know, Crack it may be waiting for the Clarity

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<v Speaker 1>Act to pass and then go do go do an ipo.

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<v Speaker 1>That's how I would do it right, to get as

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<v Speaker 1>much attention and uh liquidity and you know, bullish momentum

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<v Speaker 1>and fervor around the market to go public. So wouldn't

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<v Speaker 1>surprise me that these guys are waiting. Oh it's gonna

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<v Speaker 1>you know, be signing to log come right before July fourth. Boom,

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<v Speaker 1>Let's go do an ipo that same week or the

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<v Speaker 1>week after, right, that would be amazing. So big news here.

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<v Speaker 1>Look at this. Forward Industries, rockaway X back Enrey, so

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<v Speaker 1>O n RI to build on chain reassurance, reinsurance on Solana. Guys,

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<v Speaker 1>We've been seeing a lot of Solana adoption news and

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<v Speaker 1>it's why I hold it in my portfolio. Again, I'm

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<v Speaker 1>not emotional about these things. I'm just looking at what's

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<v Speaker 1>getting adoption and I'm putting those coins in my portfolio.

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<v Speaker 1>Not financial advice, of course, I'm just highlight lighting how

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<v Speaker 1>I'm approaching it. And you obviously want to look for

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<v Speaker 1>the utility which blockchains are getting the adoption. So Forward

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<v Speaker 1>Industries and crypto investment company rockaway X have co led

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<v Speaker 1>a strategic investment in Enrey, a startup building reassurance infrastructure

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<v Speaker 1>on the Solana blockchain, in a move aim to bring

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<v Speaker 1>traditional risk transfer markets onto decentralized rails. The company said

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<v Speaker 1>Tuesday they co led Andrey's five million dollars Series A

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<v Speaker 1>round with Forward, planning to allocate up to twenty five

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<v Speaker 1>million dollars into the platforms yield bearing token on Solana.

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<v Speaker 1>The fund will be used to expand Andrey's platform and

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<v Speaker 1>attract more institutional participants to on chain reinsurance, a niche

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<v Speaker 1>but emerging segment within decentralized finance. Guys, the building continues again,

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<v Speaker 1>look at which blockchains are getting the adoption, and you know,

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<v Speaker 1>look two dollar cost average into those as much as

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<v Speaker 1>you can and have the long term outlook. Now, look

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<v Speaker 1>at this news. Tennessee Bankers Association names stable Core as

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<v Speaker 1>preferred digital asset provider. Very interesting here, So the Tennessee

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<v Speaker 1>Bankers Association, a trade group representing the state's commercial banks,

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<v Speaker 1>has selected stable Core as a preferred technology provider for

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<v Speaker 1>digital asset services, highlighting growing interests among regional lenders in

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<v Speaker 1>crypto infrastructure. Wow, so we know the banks are going

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<v Speaker 1>all in, and you know the whole game they've been

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<v Speaker 1>playing with stable coin yield and the Clarity Act. They're

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<v Speaker 1>just trying to slow it all down so they can

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<v Speaker 1>catch up. Make no mistake about it. They are all

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<v Speaker 1>in to do tokenized deposits, stable coins, custody, crypto products,

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<v Speaker 1>and much much more. Right, But of course, crypto native

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<v Speaker 1>firms at a head start, and now these banks are

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<v Speaker 1>trying to catch up. So in a Tuesday announcement, the

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<v Speaker 1>TBA said stable Core will provide infrastructure that enables community

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<v Speaker 1>and regional banks to offer products such as stable coins,

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<v Speaker 1>tokenized deposits, and digital asset back lending through their existing systems.

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<v Speaker 1>The endorsement gives stable Core exposure to the associations roughly

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<v Speaker 1>one hundred and seventy five member institutions, potentially accelerating adoption

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<v Speaker 1>among smaller banks that lack in house digital asset capabilities.

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<v Speaker 1>So see what's happening right, bringing all these regional small banks,

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<v Speaker 1>not to mention the big eight hundred pound gorilla banks

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<v Speaker 1>right the JP, Morgan City and so forth, but the

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<v Speaker 1>small ones, the credit unions and support, they're going to

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<v Speaker 1>bring them all into the fold to use blockchain and

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<v Speaker 1>offer crypto and digital assets. So the partnership reflects a

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<v Speaker 1>broader trend among traditional financial institutions of seeking third party

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<v Speaker 1>providers to integrate crypto related services rather than building the

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<v Speaker 1>infrastructure internally. This is what they have to do because

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<v Speaker 1>it will take years to build that, right, And these

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<v Speaker 1>crypto native firms have gone through and ironed out the

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<v Speaker 1>process and they've built like Coinbase has built a crypto

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<v Speaker 1>as a service where you can just go plug and

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<v Speaker 1>play right out of the box, so to speak. So again,

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<v Speaker 1>the banks, whether big or small, all getting involved. Now

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<v Speaker 1>final news item. Representative Stephen Horsford pitches Parody Act as

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<v Speaker 1>durable floor for crypto tax at Consensus Miami. Now, the

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<v Speaker 1>Parody Act, for those of you who don't know, focuses

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<v Speaker 1>on taxes. So after the Clarity Act is done, this

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<v Speaker 1>is the big one because if you don't provide guidance

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<v Speaker 1>on how much I can spend with my crypto, how

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<v Speaker 1>can I use it, how can institutions use it, accept payments,

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<v Speaker 1>conduct payments, you're going to have problems with adoption. Right,

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<v Speaker 1>So the tax code needs to be updated. And many

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<v Speaker 1>of you know, I recently interviewed one of the folks

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<v Speaker 1>in the Salana Policy Institute where we talked a lot

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<v Speaker 1>about this. It was with Patrick Wilson, I believe, so

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<v Speaker 1>be sure you check that out. It was just published

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<v Speaker 1>a couple of weeks ago. So. Representative Stephen Horsberg, co

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<v Speaker 1>author of the Bipartisan Parody Act, told the audience at

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<v Speaker 1>coindesk's can Census Miami conference Tuesday that crypto tax policy

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<v Speaker 1>needs to advance through narrow, durable reform rather than a

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<v Speaker 1>single comprehensive overhaul. He admitted Senate negotiations on the CLARITIAC

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<v Speaker 1>between Senators Tom Tillis and Angela also Broke seem to

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<v Speaker 1>be on hold, slowing their broader bipartisan market structure framework.

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<v Speaker 1>Horsford framed crypto and digital asset policy as a tool

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<v Speaker 1>for closing the wealth gap, saying no one party should

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<v Speaker 1>own crypto. It's absolutely right, but again Claritiac needs to

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<v Speaker 1>be done first, and then the Parodiac is I think

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<v Speaker 1>the next high priority day absolutely needs need to get done.

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<v Speaker 1>And again, check out my interview with Patrick Wilson of

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<v Speaker 1>the Slana Policy Institute, and we talked a lot about

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<v Speaker 1>this and in detail what the IRS needs to do

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<v Speaker 1>and much more. Okay, folks, that's the news. Let me

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<v Speaker 1>know what you think, especially about the Michael Saylor News.

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<v Speaker 1>I think that's a huge bit of it there. This

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<v Speaker 1>man's looking to sell bitcoin. Could there be some cracks

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<v Speaker 1>in the system and hopefully nothing bad happens, but it's

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<v Speaker 1>not a good look. And folks, be sure to support

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<v Speaker 1>the podcast by subscribing to my free email newsletter. It

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<v Speaker 1>is one hundred percent free. Link will be in the description.

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<v Speaker 1>And check out my book on Amazon. Be sure to

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<v Speaker 1>grab a copy. It's available in paperback, in digital. And

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<v Speaker 1>if you want to expand your knowledge about blockchain tech

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<v Speaker 1>and crypto technology, check out my course at Mycrypto course

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<v Speaker 1>dot com. Folks, Right now, we have a fifty percent

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<v Speaker 1>sale going on. If you use the code bear b

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<v Speaker 1>ea r at checkout, you get fifty percent off the price.

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<v Speaker 1>So knowledge is power, guys. Check out. This course is

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<v Speaker 1>packed with tons of insight. It's comprehensive features, expert commentary.

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<v Speaker 1>No other course offers that, so again, go to Mycrypto

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<v Speaker 1>Course dot com. All of the links will be in

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00:18:46.880 --> 00:18:49.440
<v Speaker 1>the description. Folks, Thank you so much for tuning in.

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<v Speaker 1>I appreciate you all and I'll talk to you all later.

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<v Speaker 1>Two