Speaker 1: Ripple will allocate ten million dollars to a tokenized fund
Speaker 1: on the XRP ledger, and a major investment firm has
Speaker 1: gone all in on Salona, buying millions of the token,
Speaker 1: and Michael Sailor and micro Strategy have announced they've acquired
Speaker 1: more bitcoin and coinbase reports one point four billion dollars
Speaker 1: in revenue, beating estimates. We're gonna break this down in
Speaker 1: much more. Let's get into it. Hey, everybody, welcome into
Speaker 1: the Thinking Crypto podcast. You're home for cryptocurrency news and interviews.
Speaker 1: I'm your host, Tony Edward. On your way in, please
Speaker 1: hit that subscribe button as well as the thumbs up
Speaker 1: button and leave a comment below. If you're listening on
Speaker 1: a podcast platform such as Spotify or Apple, please leave
Speaker 1: a five star rating and review. Well, folks. Over the
Speaker 1: past twenty four hours, there has been liquidations of over
Speaker 1: three hundred and twelve million dollars. Stop using leverage, folks. Look,
Speaker 1: I don't use leverage, but this is what happens when
Speaker 1: the market swings upwards or downwards. Right shorts get liquidated
Speaker 1: on a move upwards, and when there's a move downwards
Speaker 1: like we're experiencing right now, longs get liquidated. I pretty
Speaker 1: much swing trade using Spot, but I don't use leverage.
Speaker 1: If you know what you're doing, you can, but it
Speaker 1: just be careful. It's very risky. But right now Bitcoin
Speaker 1: pulling back currently just below sixty five thousand dollars. We're
Speaker 1: waiting for that bottom. We're waiting for the next move upwards.
Speaker 1: So we got to be patient here, guys. It's boring.
Speaker 1: It's annoying. This sideways chop is so boring, right, But
Speaker 1: usually this is how the markets behave in the summertime.
Speaker 1: There's usually not major moves in July and August, but
Speaker 1: come September and into Q four there usually is. So
Speaker 1: this is what we've been talking about with yesterday's news.
Speaker 1: Whether FED may start to cut in September, maybe late
Speaker 1: August we start to see some movement upwards, and then
Speaker 1: September the fireworks really start. So be patient and use
Speaker 1: this as an accumulation opportunity. Obviously not financial investment advice.
Speaker 1: Do your own research, but you know some all coins
Speaker 1: may bleed a little bit and it could give you
Speaker 1: an opportunity to scoop up some dollar cost averaging in
Speaker 1: of course, and even Bitcoin as well. I'm personally not
Speaker 1: buying bitcoin here because I loaded up in December twenty
Speaker 1: twenty two January twenty twenty three, but I am going
Speaker 1: to scoop up some all coins, you know, if they
Speaker 1: hit certain price points, So you can set limit orders
Speaker 1: on exchanges as well to buy at certain price points
Speaker 1: even you know, maybe it hits it, maybe it doesn't,
Speaker 1: But just keep that in mind. You can use this
Speaker 1: as a buying opportunity because we're still in a bull market.
Speaker 1: We're still in an uptrend, folks. And what we saw
Speaker 1: is that black Rock and the other big whales have
Speaker 1: been buying, so that data doesn't lie. The wallet addresses
Speaker 1: are accumulating. So here Bitcoin Magazine reported, while bitcoin is dumping,
Speaker 1: black Rock continues to buy more bitcoin, and they show
Speaker 1: the screenshot of the wallet addresses accumulating. So smart money
Speaker 1: will buy in the dips, and retail and dumb money
Speaker 1: you're going to run scared and panic sell and so forth.
Speaker 1: But that that's where financial education is important. Understanding the
Speaker 1: market cycle so that when these swings happen, you're not
Speaker 1: panicking because you know where we're at in the market.
Speaker 1: You know what your plan is, whether you're buying the
Speaker 1: dips or you're holding steady, So just keep that in mind, folks. Now,
Speaker 1: speaking of smart money, Michael Sailor reported today that in July,
Speaker 1: micro Strategy acquired an additional one hundred and sixty nine
Speaker 1: bitcoin for eleven point four million dollars and now holds
Speaker 1: two hundred and twenty six thousand, five hundred bitcoin. That
Speaker 1: is insane. You know, I was worried about Michael Sailor
Speaker 1: and micro Strategy during the bear market because they obviously
Speaker 1: raised a lot of debt and so forth to buy
Speaker 1: that bitcoin, and the bear market was pretty bloody, right,
Speaker 1: let's be honest. So they made it through. They came
Speaker 1: out on the other side, and I think this is
Speaker 1: going to pay off incredibly well for Salor and micro Strategy.
Speaker 1: It's already paying off with the arbitrage they're doing with
Speaker 1: the stock, right. But you know, bigcoin as a treasury
Speaker 1: reserve asset is growing in adoption, and you got presidential
Speaker 1: candidates saying the United States should do this. So Sailor
Speaker 1: is ahead of the curve here. This is going to
Speaker 1: pay off really well for him. All Right, we got
Speaker 1: big all coin news. First up is XRP so ripple
Speaker 1: to allocate ten million dollars to tokenize US Treasury bills
Speaker 1: on the XRP Ledger. We're seeing tokenization increase guys the adoption.
Speaker 1: Obviously the biggest is black Rock where they started the
Speaker 1: project Biddle where they tokenize on Etheroreum and that has
Speaker 1: reached over five hundred million dollars their fund that they
Speaker 1: tokenize so Payments Network Ripple will allocate ten million dollars
Speaker 1: to tokenize version of US Treasury bills t bills that
Speaker 1: will become available on the XRP ledger. For the first time,
Speaker 1: the short term US government debt is being issued as
Speaker 1: T bill tokens by tokenization platform open Eating. According to
Speaker 1: a Thursday press release, assets backing the tokens will be
Speaker 1: invested in short dated US treasuries and reverse repurchase agreements,
Speaker 1: which is also known as repos collateralized by US Treasuries.
Speaker 1: Repos are securities sold with an agreement to repurchase them
Speaker 1: at a higher price at a specified feature date. The
Speaker 1: tokenization of real world assets and traditional financial securities is
Speaker 1: a growing sector of the crypto industry. It allows traditional assets,
Speaker 1: especially private and alternative assets, to be issued, managed, and
Speaker 1: distributed in a way that is considered more efficient than
Speaker 1: their off chain counterparts. Ripple's allocation is part of a
Speaker 1: larger fund that the company will allocate to tokenize t
Speaker 1: bills provided by open Eden and other unspecified issuers. Neither
Speaker 1: open Eden nor Ripple Labs specified dates for the fund's
Speaker 1: allocation and the release. So this is great news for
Speaker 1: the XRP leisure, but we want to see more. There's
Speaker 1: a lot more happening on ethereum and other blockchains. We
Speaker 1: know that Franklin Templeton is tokenizing on the Stellar blockchain
Speaker 1: and its native token is lumens, which is XLM, and
Speaker 1: we want to see more. But this is great news.
Speaker 1: And the future is tokenization folks, where different securities, commodities,
Speaker 1: and assets will be on the blockchain. I've often stated
Speaker 1: twenty four to seven trading markets, no more opening and
Speaker 1: closing mail, secondary and tertiary markets created and accessibility to
Speaker 1: folks globally because right now not everyone can access to
Speaker 1: New York stocket change, but tokens on the blockchain can
Speaker 1: easily be accessed by anyone across the world. So I
Speaker 1: think that's what the future. That's where we're headed to
Speaker 1: the token economy as I've stated many times, so this
Speaker 1: is really big news for XRP. And look XRP on
Speaker 1: the charts looking good from a macro perspective. I'm not
Speaker 1: talking about the micro of what's happening right now, but
Speaker 1: it looks like it's primed for a breakout upwards, and
Speaker 1: I'm hoping that dovetails with news that Ripple and sec
Speaker 1: have concluded the lawsuit the remainder of the lawsuit that
Speaker 1: is still on the table, and hopefully that will allow
Speaker 1: XRP to move pretty strong. But this is great news,
Speaker 1: all right, let's move ahead. Cipherpunk Holdings doubles down on
Speaker 1: Solana again. So Toronto based investment firm Cipherpunk Holdings has
Speaker 1: once again increased its exposure to Solana. According to its
Speaker 1: latest public filing, since mid July, the firm has purchased
Speaker 1: about twenty three thousand additional Soul tokens, bringing its total
Speaker 1: to eighty six, two hundred and ninety four tokens, which
Speaker 1: is twenty one point six million dollars. Wow, they're very
Speaker 1: bullish on sold and look I mentioned about a month ago,
Speaker 1: I think it was I put a lot more money
Speaker 1: into Solana because there's a lot of liquidity going into
Speaker 1: this token, so we're going to ride the liquidity wave
Speaker 1: and make some great returns. And part of the reason
Speaker 1: why he did that is the ETF filings, the ETF
Speaker 1: filings in Canada in the United States. Plus they I
Speaker 1: finally saw a real world adoption on Solana where Hamilton
Speaker 1: laned tokenized on the Solana blockchain. They launched this cool
Speaker 1: new feature blinks, which would allow integration into social platforms.
Speaker 1: So those are real things outside of meme coins. I
Speaker 1: was not on the meme coin train at all. Okay, fine,
Speaker 1: you got a lot of meme coins and that's generating
Speaker 1: a lot of transactions, but that's not real rural application.
Speaker 1: But when I saw real products, real services, and real
Speaker 1: companies building on Solana, that got me to change my mind.
Speaker 1: And then the institutional interest in as far as an eto,
Speaker 1: so this is pretty bullish. Last month, the block was
Speaker 1: the first to report that cipherpunk had ten x it's
Speaker 1: sold bag to sixty three thousand tokens worth fourteen million
Speaker 1: dollars at the time from its initial investment of six thousand,
Speaker 1: one hundred and thirty one tokens. As recently as the
Speaker 1: end of the first quarter of twenty twenty four, it
Speaker 1: held no soul, so they took a big bet recently,
Speaker 1: and I think they see why, right, they can make
Speaker 1: a really great return. It's pretty easy because there's a
Speaker 1: lot of liquidity, plus the institutional demand for ETFs and
Speaker 1: much more. The move is part of a significant s
Speaker 1: in the focus for the company, which was one of
Speaker 1: the first publicly traded firms to buy bitcoin to act
Speaker 1: as a proxy for investing in crypto. Cipherpunk also reduced
Speaker 1: its own sizeable bitcoin holdings by about one hundred and
Speaker 1: ten bitcoin and currently holds just over fifty two bitcoin,
Speaker 1: which is five point two million dollars. It used about
Speaker 1: forty five of those bitcoin to exercise a buy order
Speaker 1: of twenty thousand sol tokens options, while the rest were
Speaker 1: sold for a profit. According to its public filing, the
Speaker 1: firm purchased its first bitcoin in twenty eighteen, so I
Speaker 1: think they recognize they will get more gains by allocating
Speaker 1: to Solana. They're not getting rid of all their bitcoin,
Speaker 1: but I think we've seen historically all coins perform bitcoin, right,
Speaker 1: Not that you can't make money off of bitcoin, but
Speaker 1: it's a matter of the percentage returns and your entry price,
Speaker 1: So Solana is already up significantly from its bear market bottom.
Speaker 1: So this is pretty cool. When Leah Wall took the
Speaker 1: Rains as CEO in early July, she told that bitcoin
Speaker 1: was far and away the firm's largest holding, a multimillion
Speaker 1: dollar investment in metaverse company Animoga Brands was not far behind. It.
Speaker 1: Now appears, however, that the firm is taking a different
Speaker 1: track by reducing its exposure to bitcoin and selling off
Speaker 1: its five point six million dollar worth of Animoga shares.
Speaker 1: So this is very bolish. You behold Solana, and once
Speaker 1: again I've updated my portfolio where I've allocated a significant
Speaker 1: amount into Seoul. I'm not telling you to do that.
Speaker 1: Do your own research. I did that based on my
Speaker 1: own research. So this is pretty bullish for Slana in
Speaker 1: my opinion, and I believe there's other firms doing the
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Speaker 1: will be in the description. Now, guys, Coinbase reports one
Speaker 1: point four billion dollars in revenue, beating estimates and coinbases obviously,
Speaker 1: I believe the second largest exchange in the world behind Finance.
Speaker 1: They have the branding, they've been doing some great things,
Speaker 1: launching great products and services. And I do hold some
Speaker 1: coinbased stock, not financial advice, but I believe it will
Speaker 1: perform well because of crypto's rise. But also I've told
Speaker 1: you guys, global liquidity is on the rise. Rate cuts
Speaker 1: are coming, so the stock market, real estate, crypto, everything
Speaker 1: will rise. We're in a macro bowl market, but I
Speaker 1: like to diversify holding some coin based stock as well.
Speaker 1: But this is pretty incredible, and look the number of
Speaker 1: transactions they're reporting here on Base their ethereum layer two.
Speaker 1: It grew by three hundred percent quarter re quarter and
Speaker 1: it's a big revenue driver for them. So smart moving
Speaker 1: launching Base and they didn't issue a token and they're
Speaker 1: just collecting fees, so really really big move for them.
Speaker 1: And look, I think the other thing exchanges are going
Speaker 1: to have to do, guys and take into consideration is
Speaker 1: that Wall Street is here with et aps and they're
Speaker 1: going to pull away a lot of the retail who
Speaker 1: would have gone to exchanges to buy their crypt They're
Speaker 1: going to go through ETPs, so or not all of them,
Speaker 1: but you know, a good amount. So exchanges have to
Speaker 1: diversify their revenue. And certainly derivatives trading and all these
Speaker 1: things are a big revenue driver, but the traditional spot
Speaker 1: buying and so forth, it's it's going to decrease. So
Speaker 1: these exchanges have to look at other ways to generate revenue.
Speaker 1: And I think Coinbase they saw the writing on the
Speaker 1: wall and they launch Base and they're doing other great things.
Speaker 1: So these exchanges, if they don't up their game and
Speaker 1: launch new services and increase the value add mom and
Speaker 1: pop are going to go to Blackrock and buy their
Speaker 1: bitcoin and ether and eventually are their oh coins. So
Speaker 1: just keep that in mind. All right, we got some
Speaker 1: interesting updates here around cryptoregulations. So Senator Cynthia Lummis is
Speaker 1: the Bitcoin Act of twenty twenty four is officially live.
Speaker 1: Cody Carbona of the Chamber tweeted it out. He says,
Speaker 1: thank you, Senator Lummis for your leadership the establishment of
Speaker 1: a strategic bitcoin reserve and bitcoin purchasing program positions in
Speaker 1: the US for global leadership in digital assets. The initiative
Speaker 1: is essential. So if you recall at the Bitcoin conference,
Speaker 1: she highlighted that this is something she's working on. So
Speaker 1: it's officially live, and it's pretty historic. It's pretty historic, guys.
Speaker 1: I'm not expecting this to be signed into law, you know,
Speaker 1: by the end of the year. Maybe, but that would
Speaker 1: be incredibly bullish of what happens. But I think this
Speaker 1: is pretty much getting the ball rolling here. So pretty
Speaker 1: incredible stuff here, guys. I'm excited for the future adoption
Speaker 1: of bitcoin and cryptocurrencies. Dennis Porter, who heads up the
Speaker 1: Satoshi Act Fund, which does a lot of crypto advocacy,
Speaker 1: he tweeted out today huge ending choke point two point
Speaker 1: zero and opposing CBDC Discuss impact panel at the Capitol
Speaker 1: the wins are shifting on bitcoin policy in Washington, d C.
Speaker 1: The staff is paying close attention. This is great. Shout
Speaker 1: out to Dennis and even folks at the Digital Chamber
Speaker 1: and the Blockchain Association who are in DC every day
Speaker 1: on Capitol Hill talking to different folks to try to
Speaker 1: get them to change their policy. Crypto should not be
Speaker 1: a partisan issue. It should be bipartisan. It shouldn't be
Speaker 1: an election issue. Unfortunately, Elizabeth Warren and her cronies are
Speaker 1: the reason that happened. But it needs to get to
Speaker 1: a place where crypto is not even discussed as a
Speaker 1: Republican or Democrat issue. Is US an American issue. We
Speaker 1: are embracing technology, creating jobs and so forth. So this
Speaker 1: is really great to hear. And I cover Operation Choke
Speaker 1: point two point zero and Gary Gins and Elizabeth Warren
Speaker 1: and the anti Crypto Army in my book, Rethinking Crypto,
Speaker 1: which is available on Amazon and paperback and digital. Grab
Speaker 1: a copy to support the podcast. Grab a couple of
Speaker 1: copies for your friends and family who want to learn
Speaker 1: about crypto. If you bought a copy already, be sure
Speaker 1: to leave a rating and review. It will help my rankings.
Speaker 1: Thank you guys, so much, and don't forget to subscribe
Speaker 1: to my free email newsletter on substack and it's one
Speaker 1: hundred percent for you guys, so it's filled with crypto
Speaker 1: insights and knowledge. Thank you guys so much for watching
Speaker 1: and listening. I appreciate you all, and I'll talk to
Speaker 1: you all later. Two three two