Speaker 1: You won't believe this news. The interview with Ripple CEO
Speaker 1: Brad Garlinghouse was aired on sixty Minutes tonight, but they
Speaker 1: brought in an SEC official who told a whole bunch
Speaker 1: of lies about crypto, talked a whole bunch of fud
Speaker 1: I'll share the details with you and what people are saying.
Speaker 1: And Amazon shareholders want the company to add bitcoin to
Speaker 1: its balance sheet. This is huge game theories playing out.
Speaker 1: Let's get into it. Hey, everybody, welcome into the Thinking
Speaker 1: Crypto podcast, your home for cryptocurrency news and interviews. I'm
Speaker 1: your host, Tony Edward. On your way in, Please sit
Speaker 1: that subscribe button as well as the thumbs up button
Speaker 1: and leave a comment below. If you're listening on a
Speaker 1: podcast platform such as Spotify or Apple, please leave a
Speaker 1: five star reading and review. Folks, Let's start by looking
Speaker 1: at the price of bitcoin, because bitcoin had a very
Speaker 1: bullish weekly close. Right now, it's sitting below one hundred thousand.
Speaker 1: It's been chopping between ninety nine and one hundred and
Speaker 1: one thousand dollars. That's normal and healthy consolidation. Now I've
Speaker 1: been saying bitcoin could putent, actually roll over and go
Speaker 1: Test eighty eight or eighty thousand, so just be mentally
Speaker 1: prepared for that. That would be incredibly healthy and normal.
Speaker 1: It's things that have happened in the bull market, and
Speaker 1: if you zoom out on a chart, you see that
Speaker 1: type of pattern happened historically. But one thing is for sure,
Speaker 1: we are headed to higher prices. And in fact, Bitcoin
Speaker 1: closed its highest ever daily candle and weekly close and
Speaker 1: it closed above one hundred and one thousand, but obviously
Speaker 1: has pulled back since then. Same thing with XRP. It
Speaker 1: is consolidating. It's currently at two dollars and forty nine cents,
Speaker 1: and it could also roll over and test some lows
Speaker 1: like two dollars or whatever it may be. But blockchain
Speaker 1: Backer highlighted here that XRP had its second highest weekly
Speaker 1: closed in history and closes the weekly candle above the
Speaker 1: seven to two retrace of the twenty eighteen and twenty
Speaker 1: twenty four range. So we are seeing higher highs and
Speaker 1: higher lows and support levels being built and resistance being
Speaker 1: broken through. All healthy stuff. But once again, make sure
Speaker 1: you are mentally prepared with the pullbacks. I've been in
Speaker 1: bull markets where we've seen thirty to forty percent pullbacks
Speaker 1: and it can be stomach churning, especially if you're new
Speaker 1: to the market. For me, it's just business as usual
Speaker 1: because I've gone through the meat grinder and I've gained
Speaker 1: the experience. I've been able to learn the market cycles,
Speaker 1: the charts, and what metrics to look at to see
Speaker 1: if this is the end of the story or the
Speaker 1: music stops here or it continues. So right now we
Speaker 1: are still in the midst of the bullmarket. Things are
Speaker 1: heating up, but expect pullbacks and corrections guys. That will
Speaker 1: be very healthy. And as far as the next price target,
Speaker 1: analyst Mmcrypto who his name is Chris, Actually he was
Speaker 1: on my podcast a couple months ago, he tweeted out
Speaker 1: his next target for xrps three dollars and five cents.
Speaker 1: So let's see what happens, guys. And in the total
Speaker 1: all point market cap, it's weekly closed above four hundred
Speaker 1: and twenty five billion dollars for the first time since
Speaker 1: November twenty twenty one, so of course that was the peak.
Speaker 1: November twenty twenty one was the peak of the bullmark
Speaker 1: for that last cycle. So you can see we still
Speaker 1: have to make new highs. Right, we haven't even broken
Speaker 1: through the new highs. So we are in the phase
Speaker 1: of catching up to the previous all time highs. Then
Speaker 1: once we break through, we enter into price discovery, and
Speaker 1: that's what we want to see for XRP. It happened
Speaker 1: for Bigcoin already Bigcoin already in price discovery once it
Speaker 1: broke that all all time high. So, guys, things are
Speaker 1: looking bullish, but once again having the back of your
Speaker 1: mind that corrections and pullbacks will happen on the way up. Now,
Speaker 1: I'm not sure how many of you caught these sixty
Speaker 1: minutes interview with Ripple CEO Brad garling House. It's online.
Speaker 1: I took a look at it, and overall it was good.
Speaker 1: It gave a lot of exposure to the crypto industry,
Speaker 1: XRP and Ripple A major win is for example, they
Speaker 1: show that XRP rally three hundred percent and it's up
Speaker 1: and so forth. And they also talked about how crypto
Speaker 1: was impacting the elections and all the things that were happening. However,
Speaker 1: what a lot of people didn't know. They brought in
Speaker 1: John Reid Stark, the Gary Genser Brownoser himself. This guy
Speaker 1: actually blocked me about a year ago because I started
Speaker 1: calling out his bullshit because he goes around echoing the
Speaker 1: nonsense talking points that Elizabeth Warren and Gary Ginster usually say,
Speaker 1: and that crypto has no utility, it's a scam and
Speaker 1: much more so, he went on there and said all
Speaker 1: these things, guys, and that was surprising. I didn't expect that.
Speaker 1: And he's a clown. So, like I said, he's a
Speaker 1: Gary Against Brown noser. He also stated that all these
Speaker 1: things are securities and on and so on and so on. Right,
Speaker 1: so it's pretty much like a Gary Gainster carbon copy
Speaker 1: that was there and sixty minutes did a bad job
Speaker 1: of countering those things because they didn't even say a
Speaker 1: federal judge ruled that XRP intrinsically was not a security.
Speaker 1: How do you not highlight that? Right? And Brad, actually,
Speaker 1: I'll share a tweet with you, he said he did
Speaker 1: mention that. And in addition, they did not highlight the
Speaker 1: losses the SEC took in court, such as the ETF
Speaker 1: being called arbitrary and capricious. They hid all those things
Speaker 1: that Gary against and the SEC met with Sam Bamfert
Speaker 1: freed and the FTX. So the fix is in here
Speaker 1: right to high those facts. Those are not like subjective statements.
Speaker 1: Those are hardcore facts. These are rulings on the court
Speaker 1: and much more. But sixty Minutes is going to try
Speaker 1: to protect the government as much as possible. It's mainstream media, right,
Speaker 1: They're not going to highlight all these things that happened.
Speaker 1: That once again, Gary Against met with Sam bankmcfred and
Speaker 1: FTX officials multiple times and under their watch, Sam Bamfon
Speaker 1: Freed was doing all these things. So there you have it, right,
Speaker 1: the fix was in. But I think once again overall good.
Speaker 1: Brad garling House said he wants to comment on a
Speaker 1: few things after watching the interview. He said, I spoke
Speaker 1: with Margaret Brennan sixty minutes for ninety plus minutes straight
Speaker 1: when discussing the SEC's misguided lawsuit against Ripple. Sixty Minutes
Speaker 1: shockingly left out the federal judge rule that XRPI is
Speaker 1: not a security against their shill, John Reed Stark knows
Speaker 1: better despite his comments that sixty Minutes chose to air lastly,
Speaker 1: to say crypto has no UT is exactly what the
Speaker 1: naysayers said about the Internet in its earliest days, that
Speaker 1: it's not more than an illicit activity. How vastly they
Speaker 1: were proven wrong today even JP Morgan is coming around
Speaker 1: on blockchain. Conveniently, sixty minutes also failed to mention that
Speaker 1: Ripple is doing billions of dollars of kyc led transactions
Speaker 1: for our institutional customers, leveraging XRP to move money cross
Speaker 1: border more efficiently than traditional payment rails. So once again
Speaker 1: a bit of a fix there, But overall, it's good
Speaker 1: visibility because the general population got to see kind of
Speaker 1: the full view of crypto and what crypto has been doing,
Speaker 1: and how Ripple's building as a company not looking to
Speaker 1: scam anybody, and things like that, because FTX was brought
Speaker 1: up and Brad was asked about FTX, but once again
Speaker 1: no mention of what Sam Beck mcfree was doing with
Speaker 1: a lot of the politicians and meeting with Gary Gens
Speaker 1: and so forth. Right, big the cover up there and
Speaker 1: these are factual things. So there you have it, folks.
Speaker 1: Let me share what some other people are saying. Easy A,
Speaker 1: he's the co founder, he said this summer a federal
Speaker 1: judge will xrpa's not a security but sixty Minutes deliberately
Speaker 1: chose to leave this out of their interview with Brady
Speaker 1: Garland House. We need more honest media surrounding Crypto attorney
Speaker 1: Fred Rispoli says have only watched clips on X but
Speaker 1: it seems likely that sixty minutes rippless segment was not
Speaker 1: well researched and or unfairly edited by the show's team.
Speaker 1: I mean, having John read Stark on did the show
Speaker 1: at least inform the audience. This guy is the biggest
Speaker 1: homer for the SEC. You could get to Fred's right here, right,
Speaker 1: we know who John reads Stark is, and but you
Speaker 1: know they're going to try to cover up for the
Speaker 1: SEC and not have the SEC get to embarrass Now.
Speaker 1: The other day, I told you guys about Caroline Crenshaw,
Speaker 1: Democrat commissioner at the SEC, who is outright anti crypto,
Speaker 1: and she voted against the Bitcoin ETF approval even after
Speaker 1: the judge or the judge is ruled that the SEC
Speaker 1: acted arbitrary and capricious. So this person went against the
Speaker 1: law and writing a letter of descent and much more. Well,
Speaker 1: I told you guys you should kick Rocks and I
Speaker 1: hope she doesn't get voted in, but even if she does,
Speaker 1: she's outnumbered. Coinbased CEO Brian Armstrong weighed in as well,
Speaker 1: saying Caroline Crenshaw was a failure as an SEC commissioner
Speaker 1: and should be voted out. She tried to block the
Speaker 1: big coin et apps and was worse than gainst her
Speaker 1: in some issues which I didn't think was possible. The
Speaker 1: Senate Banking Committee should take note. The crypto community is
Speaker 1: watching this vote. I'm told it will be factored into
Speaker 1: the stand with crypto scorecards or politicians. I love it.
Speaker 1: We got to keep them accountable. Guys. All right, guys.
Speaker 1: Quick word from our sponsor, and that is a v chain,
Speaker 1: which is one of the top layer one enterprise blockchains
Speaker 1: that is powered by smart contracts and v chain is
Speaker 1: being used by many big brands and companies around the
Speaker 1: world to build web three apps. They are partnered with
Speaker 1: BMW Boston Consulting Group, Pwcgivon, she Walmart China and many
Speaker 1: other big companies. And some of the great attributes of
Speaker 1: the v chain blockchain includes secure, affordable, scalable, fast, and sustainable.
Speaker 1: I've been a VET token holder for years, so if
Speaker 1: you'd like to learn more about v chain, go to
Speaker 1: vchain dot org. Link will be in the description. Now, guys,
Speaker 1: check this news out. Amazon shareholder, the National Center for
Speaker 1: Public Policy Research submits proposal for Amazon to adopt bitcoin
Speaker 1: as a treasure reserve asset. So, if you recall, the
Speaker 1: shareholders of Microsoft did the same thing about a month ago.
Speaker 1: Michael Saylor in fact, went and spoke to their respective
Speaker 1: board of Microsoft, and we'll see if they vote to
Speaker 1: get this done. I think the vote is this week.
Speaker 1: But guys, I tweeted out about this. This is the
Speaker 1: start of something big. This is not a fad. And
Speaker 1: here's here are my reasons. Number one, Blackrock has given
Speaker 1: the market the green light for bitcoin, and they are
Speaker 1: financializing bitcoin for tradfi, just as they have for other
Speaker 1: commodities and movements like ESG. Remember when Blackrock went all
Speaker 1: in on ESG and all that stuff and noticed the
Speaker 1: pressure it put on the rest of Wall Street and companies.
Speaker 1: They're going to do the same thing with bitcoin. We
Speaker 1: know Blackrock is connected to the government. They did a
Speaker 1: lot of stuff in two thousand and eight, even in
Speaker 1: twenty twenty with buying homes and much more. And Blackrock
Speaker 1: kind of sets the standard as the world's largest asset manager, right.
Speaker 1: I don't think I need to explain the dynamics there.
Speaker 1: So they've been accumulating bitcoin at a rapid pace, and
Speaker 1: essentially they're going to force everyone to participate in one
Speaker 1: way or the other. Second, Michael Sailor and Micro Strategy
Speaker 1: have laid out the blueprint and shown the success of
Speaker 1: the raising debt and issuing bonds and all these things
Speaker 1: and how impactful that can be to their stock price.
Speaker 1: So that is going to be very appealing to many
Speaker 1: of these companies who are publicly traded. Of course, Number three,
Speaker 1: the global race for bitcoin as a strategic reserve kicked
Speaker 1: off by the United States being headed up by senators
Speaker 1: and the Alummis and of course Donald Trump endorsing it.
Speaker 1: So I think you see where we're headed, guys. Right,
Speaker 1: It's not a matter of if, it's a matter of when.
Speaker 1: And I think eventually all these companies are going to capitulate,
Speaker 1: and it takes some of these big dominoes to fall,
Speaker 1: and the rest of Wall Street and corporate America is
Speaker 1: going to follow, guys. Because if you watch what black
Speaker 1: Rock is doing, the non stop buying, they're going to
Speaker 1: pass to Toshi's holdings. They've been moving some of their
Speaker 1: bitcoin ETFs into their other funds, so it's actually bolstering
Speaker 1: those other funds. I mean the writings on the wall here, guys.
Speaker 1: So that's why I think this is going to happen
Speaker 1: sooner than later. And you were seeing ETFs for bitcoin
Speaker 1: and ethereum and other assets being launched globally. And let's
Speaker 1: see what happens next year with the Bitcoin Strategic reserve.
Speaker 1: It could simply be that the United States just holds
Speaker 1: on to the bitcoin they have already about two hundred
Speaker 1: plus thousand, and you know that becomes their treasure reserve,
Speaker 1: and maybe they add over time. But the adding over
Speaker 1: time might be a hard sell because it has to
Speaker 1: go through Congress, of course, But just simply keeping what
Speaker 1: they have is an easy, easy thing. So very interesting
Speaker 1: times that we live in, folks. This is why I'm
Speaker 1: bullish on this acid class. This is why there's going
Speaker 1: to be some bigcoin. I'm never selling. Yes, I'll be
Speaker 1: taking some profits this cycle, of course, buying the bloody
Speaker 1: bear market again as we head into twenty twenty seven
Speaker 1: and so on and so forth. But I'm preparing for
Speaker 1: the next bull market cycle as well, guys, to squeeze
Speaker 1: as much profit out of this acid class. Guys, so
Speaker 1: let me know what you think. Leave your thoughts and
Speaker 1: comments below. Guys, A great way you can support me
Speaker 1: is by subscribing to my free email Loser. It's one
Speaker 1: hundred percent free on substack, and grab a copy of
Speaker 1: my book, Rethinking Crypto. It's available on Amazon and paperback
Speaker 1: and digital. You can buy a copy for yourself, buy
Speaker 1: a few copies for your friends and family who want
Speaker 1: to learn about Crypto, help them to not get wrecked.
Speaker 1: Education and knowledge is power, guys. So the book talks
Speaker 1: about Crypto's past, president and future, all the fun with
Speaker 1: the sec versus ripple ft X, and then hy Wall
Speaker 1: Street's here issuing ETFs and tokenizing it much more. And
Speaker 1: if you bought a copy already, please leave a rating review.
Speaker 1: It will really help me out. Thank you, guys. I
Speaker 1: appreciate you all, and I'll talk to you all later