Speaker 1: Hey everyone, Welcome back to The Thinking Crypto Podcasts. You're
Speaker 1: home for cryptocurrency news and interviews. I'm your host, Tony Edward.
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Speaker 1: Bitcoin continues to show strength. At the time we're recording,
Speaker 1: it's over eighty one thousand dollars, so exactly eighty one thousand,
Speaker 1: two hundred and forty dollars, so we're still in that
Speaker 1: rising channel. We expect bitcoin to top maybe about eighty
Speaker 1: four eighty five k if it does get that high.
Speaker 1: You know, there are no guarantees here, just probabilities. But bitcoin,
Speaker 1: there is a CMME gap if I'm not mistaken, between
Speaker 1: eighty two thousand and eighty four thousand. So let's see
Speaker 1: how high we go. Bitcoin could potentially overshoot, go to
Speaker 1: eighty seven possibly ninety. You know, some analysts are saying
Speaker 1: it could get that high, but again no guarantees. One
Speaker 1: thing we do have to watch out for is Bitcoin
Speaker 1: is approaching the overbought zones that RSI is approaching seventy,
Speaker 1: So if you know your signals and metrics, you know
Speaker 1: that seventy is where we're overbought and thirty is where
Speaker 1: we're over sold. Now it can overshoot those numbers, so
Speaker 1: it can go to eighty right and then pull back.
Speaker 1: So we're gonna have to wait and see. However, if
Speaker 1: Bitcoin is going to cool off very soon, which it
Speaker 1: looks like it will, I think we're gonna see some
Speaker 1: all coins start to run, so the alts will have
Speaker 1: a relief rally. Now does that mean every single all
Speaker 1: coin in the market's gonna pump? Of course not right.
Speaker 1: I do believe your major all coins, your large caps, midcaps,
Speaker 1: and so forth are gonna start to move. So ethereum
Speaker 1: Salona XRP, I think pretty much the coins in the
Speaker 1: top fifteen to twenty will start to move, and then
Speaker 1: you could see certain privacy coins I think that's still
Speaker 1: a strong narrative, will start to move as well. So
Speaker 1: if you look at the total three chart that is
Speaker 1: looking bullish, the RSI still shows there's room to run here,
Speaker 1: and the MACD has bullish similar to Bitcoin, and we're
Speaker 1: seeing some upward movement here. So let's see how high
Speaker 1: we go, guys, because it would be really nice to
Speaker 1: have these alts catch up to Bitcoin, so to speak,
Speaker 1: and we see a mini relief rally for these all coins. Obviously,
Speaker 1: we hope that they outperform Bitcoin, which you know historically
Speaker 1: we have seen him do that. Not all of them,
Speaker 1: but you know, maybe eat Solona X repeating all outperform Bitcoin.
Speaker 1: But again we shall see, but be prepared. I think
Speaker 1: that we're gonna see some of these alts pop off again.
Speaker 1: Not guaranteed, but this is a high probability in my opinion,
Speaker 1: and that will be really good for many of us
Speaker 1: who hold all coins. Obviously I hold bitcoin as well,
Speaker 1: but I want to see my all coin portfolio start
Speaker 1: to move as well. That would be really really nice. Now, guys,
Speaker 1: we got some crazy news coming out from Michael Sailor.
Speaker 1: Many of you know. He is, of course the founder
Speaker 1: and the CEO of micro Strategy. I believe he did
Speaker 1: step down from the CEO role, but nevertheless, the majority
Speaker 1: of the company's lifespan he had being the CEO. And
Speaker 1: you know, he has religiously and I use the word
Speaker 1: religiously on purpose, because he has said we're never going
Speaker 1: to sell bitcoin. You're an idiot if you sell. And
Speaker 1: he's put out tons of propaganda. You look at his
Speaker 1: Twitter feed as xual we never sell your bitcoin. He
Speaker 1: would say, sell your kidney to get by bitcoin, mortgage
Speaker 1: your house just by bitcoin, right, all crazy stuff which
Speaker 1: I've criticized him and his followers all about over the years.
Speaker 1: All of a sudden they're saying they may have to
Speaker 1: sell and this is not a good sign, and they
Speaker 1: may have to sell to funder dividends obligations. In fact,
Speaker 1: it was reported that Strategy had a twelve point five
Speaker 1: four billion dollar Q one loss. Guys, twelve billion dollar loss.
Speaker 1: That is wild. So this is getting really scary here
Speaker 1: for Michael Saylor. It seems there are some cracks in
Speaker 1: the system. Now. I've been on record, I don't want
Speaker 1: to see Strategy fail. But the things that are happening,
Speaker 1: the amount of leverage. How many times have I talked
Speaker 1: about that, guys, and I had people criticize me as well,
Speaker 1: where I said, this is not good. The amount of
Speaker 1: leverages guys using is insane. It's another two thousand and
Speaker 1: eight type scenario. Leverage upon leverage. Right, It's one thing
Speaker 1: to buy bitcoin, take some of the cash on your
Speaker 1: balance sheet and buy bitcoin. It's another to go raise
Speaker 1: obscene amounts of debt to buy bitcoin, and you put
Speaker 1: yourself in this situation where the market is down. We're
Speaker 1: in a bear market, and I'm sure they're feeling the pressure.
Speaker 1: And then you launch you know, yield and dividends, and
Speaker 1: all of a sudden you got to sell bitcoin. I
Speaker 1: don't know, something's wrong here. My spidy sense is tingling
Speaker 1: because this man has gone on TV and much more
Speaker 1: say oh, we're fine. We can see a eighty ninety
Speaker 1: percent drop in bitcoin and we will be fine. All
Speaker 1: of a sudden, yeah, we're gonna have to sell some bitcoin,
Speaker 1: So watch guys. This is no longer a bitcoin treasury
Speaker 1: company in my opinion. You know, you look at a
Speaker 1: great example would be like Tesla and SpaceX Elon took
Speaker 1: some of the cash on the reserves of those companies
Speaker 1: and bought some bitcoin, and that's it, right. The company
Speaker 1: is still generating revenue from other things, car sales, YadA YadA,
Speaker 1: and they're not putting all their cash. They still have
Speaker 1: their operating cash. That's the smart way to do it.
Speaker 1: What Sailor is doing is a very risky thing with
Speaker 1: all that debt and this is not looking good. So
Speaker 1: hopefully we don't have a collapse again. I'm not hoping
Speaker 1: for that. I don't want that to happen because I
Speaker 1: believe that would be really bad for bitcoin. Not that
Speaker 1: it's gonna kill bitcoin, but you know, the narratives, the
Speaker 1: news headlines. Can you imagine guys, right, it's gonna be
Speaker 1: really rough, but you know, it could be. Let's say
Speaker 1: he's in some sort of trouble. He could go to
Speaker 1: black Rock, he can go to these big constitutions which
Speaker 1: want to hold as much bitcoin, right and their ETFs
Speaker 1: and much more, and maybe they bail him out or
Speaker 1: they take it over. Right. I don't think he would
Speaker 1: get to a point where the whole thing collapses. I
Speaker 1: think the big institutions which are here and countries even
Speaker 1: that are you know, looking to establish reserves. Or maybe
Speaker 1: the US government, you know, steps in and they're like, okay,
Speaker 1: sailor it looks like you are done here. We're going
Speaker 1: to take over your bitcoin stash because we can't allow
Speaker 1: this type of collapse. Right, that's a possibility. I'm not
Speaker 1: saying it's going to happen, but that's a possibility. So
Speaker 1: let's see what happens. This is this is certainly certainly
Speaker 1: not good. And again, this man has been out there
Speaker 1: tweeting out all types of ridiculous stuff, going on TV,
Speaker 1: saying all types of ridiculous stuff, criticizing people, calling them
Speaker 1: names about if they, you know, if they even think
Speaker 1: about selling bitcoin. You never sell your bitcoin, and all
Speaker 1: of a sudden he has to do it. So, uh,
Speaker 1: these are signs of a bear market, folks, if you
Speaker 1: didn't think we are in one, and look, it could
Speaker 1: be we're coming out now, you know, with this rally.
Speaker 1: But you know, potentially there is some downside that could happen.
Speaker 1: But no one knows the exact future. We don't have
Speaker 1: a crystal ball. So we're going to have to be
Speaker 1: cautiously optimistic and vigilant here to see what may happen
Speaker 1: as we head later into the year. Will Bitcoin have
Speaker 1: a major correction, you know, go down and that forces
Speaker 1: Sailor to start selling like crazy? We shall see now, folks.
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Speaker 1: going to launch Bitcoin volatility futures contracts on June first,
Speaker 1: So we continue to see these trade fi institutions launch
Speaker 1: all types of financial products around bitcoin and all coins.
Speaker 1: Usually it starts a bitcoin and then they move to
Speaker 1: all coins. So this is great. I think more financial products,
Speaker 1: more on and off ramps is going to be good
Speaker 1: to allow more capital to come in, especially as we
Speaker 1: get the CLARITYAC pass, and that opens up more capital
Speaker 1: to come in. And speaking of the Clarity Act, Senator
Speaker 1: Bernie Moreno says they're going to mark up the Bitcoin
Speaker 1: and Crypto market structure legislation next week. So folks, you know,
Speaker 1: yesterday we talked about the banks trying to backtrack and
Speaker 1: pull a fast one on a stable coin compromise, but
Speaker 1: the senators who worked on that compromise said, no, we
Speaker 1: agree to disagree. This thing's moving forward. So markup is important.
Speaker 1: That's the first step in getting it going and then
Speaker 1: eventually to a vote on the Senate floor and then
Speaker 1: you know, to President Trump's desk. Here's a quote from
Speaker 1: Senator Bernie Moreno. He said, we'll get it on the
Speaker 1: President's desk before the end of June, and he'll sign
Speaker 1: it into law before July fourth. That would be huge.
Speaker 1: So let's see, guys. Hopefully, you know, we definitely hit
Speaker 1: these deadlines. Even if it's a week or two off,
Speaker 1: that's fine as long as we're moving in the right direction.
Speaker 1: But this is really great to hear that the markup
Speaker 1: is going to happen. And the prediction market odds have increased,
Speaker 1: so polymarket is showing a seventy percent chance the Clarity
Speaker 1: Act is signed into law this year. So very very
Speaker 1: good stuff here. Now moving ahead, Cracking Exchange partners with
Speaker 1: money Graham to enable crypto cash withdraws in one hundred
Speaker 1: plus countries. Wow, talk about a major, major on and
Speaker 1: off ramp here. This is huge. I think this is
Speaker 1: a major strategic move by Cracking given the amount of
Speaker 1: people that use money Gram to move money across the globe.
Speaker 1: And you know, if you want to send folks crypto,
Speaker 1: you know it will be an easy way for them
Speaker 1: to transition into casher, you know, their respective fiat currency.
Speaker 1: So there's going to be like the full on interoppability
Speaker 1: between digital assets crypto into fiat currency. So this is
Speaker 1: another major on and off ramp. And you know, we've
Speaker 1: been talking a lot about Kracking looking to do their IPO.
Speaker 1: They had to postpone some of it due to the
Speaker 1: bear market. But you know, this is on deck ready
Speaker 1: for better market conditions. And there's some other companies like
Speaker 1: Securitize as well who are to go public. So we're
Speaker 1: gonna see a lot of building guys, and I think, uh,
Speaker 1: you know, Crack it may be waiting for the Clarity
Speaker 1: Act to pass and then go do go do an ipo.
Speaker 1: That's how I would do it right, to get as
Speaker 1: much attention and uh liquidity and you know, bullish momentum
Speaker 1: and fervor around the market to go public. So wouldn't
Speaker 1: surprise me that these guys are waiting. Oh it's gonna
Speaker 1: you know, be signing to log come right before July fourth. Boom,
Speaker 1: Let's go do an ipo that same week or the
Speaker 1: week after, right, that would be amazing. So big news here.
Speaker 1: Look at this. Forward Industries, rockaway X back Enrey, so
Speaker 1: O n RI to build on chain reassurance, reinsurance on Solana. Guys,
Speaker 1: We've been seeing a lot of Solana adoption news and
Speaker 1: it's why I hold it in my portfolio. Again, I'm
Speaker 1: not emotional about these things. I'm just looking at what's
Speaker 1: getting adoption and I'm putting those coins in my portfolio.
Speaker 1: Not financial advice, of course, I'm just highlight lighting how
Speaker 1: I'm approaching it. And you obviously want to look for
Speaker 1: the utility which blockchains are getting the adoption. So Forward
Speaker 1: Industries and crypto investment company rockaway X have co led
Speaker 1: a strategic investment in Enrey, a startup building reassurance infrastructure
Speaker 1: on the Solana blockchain, in a move aim to bring
Speaker 1: traditional risk transfer markets onto decentralized rails. The company said
Speaker 1: Tuesday they co led Andrey's five million dollars Series A
Speaker 1: round with Forward, planning to allocate up to twenty five
Speaker 1: million dollars into the platforms yield bearing token on Solana.
Speaker 1: The fund will be used to expand Andrey's platform and
Speaker 1: attract more institutional participants to on chain reinsurance, a niche
Speaker 1: but emerging segment within decentralized finance. Guys, the building continues again,
Speaker 1: look at which blockchains are getting the adoption, and you know,
Speaker 1: look two dollar cost average into those as much as
Speaker 1: you can and have the long term outlook. Now, look
Speaker 1: at this news. Tennessee Bankers Association names stable Core as
Speaker 1: preferred digital asset provider. Very interesting here, So the Tennessee
Speaker 1: Bankers Association, a trade group representing the state's commercial banks,
Speaker 1: has selected stable Core as a preferred technology provider for
Speaker 1: digital asset services, highlighting growing interests among regional lenders in
Speaker 1: crypto infrastructure. Wow, so we know the banks are going
Speaker 1: all in, and you know the whole game they've been
Speaker 1: playing with stable coin yield and the Clarity Act. They're
Speaker 1: just trying to slow it all down so they can
Speaker 1: catch up. Make no mistake about it. They are all
Speaker 1: in to do tokenized deposits, stable coins, custody, crypto products,
Speaker 1: and much much more. Right, But of course, crypto native
Speaker 1: firms at a head start, and now these banks are
Speaker 1: trying to catch up. So in a Tuesday announcement, the
Speaker 1: TBA said stable Core will provide infrastructure that enables community
Speaker 1: and regional banks to offer products such as stable coins,
Speaker 1: tokenized deposits, and digital asset back lending through their existing systems.
Speaker 1: The endorsement gives stable Core exposure to the associations roughly
Speaker 1: one hundred and seventy five member institutions, potentially accelerating adoption
Speaker 1: among smaller banks that lack in house digital asset capabilities.
Speaker 1: So see what's happening right, bringing all these regional small banks,
Speaker 1: not to mention the big eight hundred pound gorilla banks
Speaker 1: right the JP, Morgan City and so forth, but the
Speaker 1: small ones, the credit unions and support, they're going to
Speaker 1: bring them all into the fold to use blockchain and
Speaker 1: offer crypto and digital assets. So the partnership reflects a
Speaker 1: broader trend among traditional financial institutions of seeking third party
Speaker 1: providers to integrate crypto related services rather than building the
Speaker 1: infrastructure internally. This is what they have to do because
Speaker 1: it will take years to build that, right, And these
Speaker 1: crypto native firms have gone through and ironed out the
Speaker 1: process and they've built like Coinbase has built a crypto
Speaker 1: as a service where you can just go plug and
Speaker 1: play right out of the box, so to speak. So again,
Speaker 1: the banks, whether big or small, all getting involved. Now
Speaker 1: final news item. Representative Stephen Horsford pitches Parody Act as
Speaker 1: durable floor for crypto tax at Consensus Miami. Now, the
Speaker 1: Parody Act, for those of you who don't know, focuses
Speaker 1: on taxes. So after the Clarity Act is done, this
Speaker 1: is the big one because if you don't provide guidance
Speaker 1: on how much I can spend with my crypto, how
Speaker 1: can I use it, how can institutions use it, accept payments,
Speaker 1: conduct payments, you're going to have problems with adoption. Right,
Speaker 1: So the tax code needs to be updated. And many
Speaker 1: of you know, I recently interviewed one of the folks
Speaker 1: in the Salana Policy Institute where we talked a lot
Speaker 1: about this. It was with Patrick Wilson, I believe, so
Speaker 1: be sure you check that out. It was just published
Speaker 1: a couple of weeks ago. So. Representative Stephen Horsberg, co
Speaker 1: author of the Bipartisan Parody Act, told the audience at
Speaker 1: coindesk's can Census Miami conference Tuesday that crypto tax policy
Speaker 1: needs to advance through narrow, durable reform rather than a
Speaker 1: single comprehensive overhaul. He admitted Senate negotiations on the CLARITIAC
Speaker 1: between Senators Tom Tillis and Angela also Broke seem to
Speaker 1: be on hold, slowing their broader bipartisan market structure framework.
Speaker 1: Horsford framed crypto and digital asset policy as a tool
Speaker 1: for closing the wealth gap, saying no one party should
Speaker 1: own crypto. It's absolutely right, but again Claritiac needs to
Speaker 1: be done first, and then the Parodiac is I think
Speaker 1: the next high priority day absolutely needs need to get done.
Speaker 1: And again, check out my interview with Patrick Wilson of
Speaker 1: the Slana Policy Institute, and we talked a lot about
Speaker 1: this and in detail what the IRS needs to do
Speaker 1: and much more. Okay, folks, that's the news. Let me
Speaker 1: know what you think, especially about the Michael Saylor News.
Speaker 1: I think that's a huge bit of it there. This
Speaker 1: man's looking to sell bitcoin. Could there be some cracks
Speaker 1: in the system and hopefully nothing bad happens, but it's
Speaker 1: not a good look. And folks, be sure to support
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Speaker 1: I appreciate you all and I'll talk to you all later.
Speaker 1: Two