Speaker 1: The Fed has cut rates by fifty basis points. When
Speaker 1: will we see the markets react? When will bitcoin and
Speaker 1: all coins start to move? I want to share some
Speaker 1: details with you, and Donald Trump bought a burger today
Speaker 1: with bitcoin. I'll break it all down for you, guys.
Speaker 1: Let's get into it. Hey, everybody, welcome into the Thinking
Speaker 1: Crypto podcast. You're home for cryptocurrency news and interviews. I'm
Speaker 1: your host, Tony Edward. On your way in. Please hit
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 rating and review. Folks, I'm sure many of
Speaker 1: you heard the news already, and that is the Federal
Speaker 1: Reserve has cut interest rates by fifty basis points or
Speaker 1: half a point. This is very bullish, in my opinion.
Speaker 1: We are headed to the easy money cycle. We're going
Speaker 1: to see a lot more borring and lending. You're going
Speaker 1: to see hedge funds and vcs and the average show
Speaker 1: and people looking for mortgages and so forth. All of
Speaker 1: these things are going to start to ramp up. I
Speaker 1: think we're headed to the next book cycle. If you
Speaker 1: follow the historical patterns of the economy. Now, that doesn't
Speaker 1: mean you're not going to have corrections and micro crashes
Speaker 1: in the market. Just look at what took place earlier
Speaker 1: in August, right with the Japanese yen trade situation, but
Speaker 1: then it recovered, So just keep that in mind. From
Speaker 1: the macro we're talking about here, we're headed to that
Speaker 1: easy money cycle and we're going to start to see
Speaker 1: a lot of more activity in the economy as businesses
Speaker 1: are going to be able to borrow and so forth,
Speaker 1: and means more money for people to invest in. Now
Speaker 1: a part of cutting the rates, the FED will now
Speaker 1: have to print money to service the debt. And that's
Speaker 1: where as investors in crypto we will benefit because we've
Speaker 1: seen as global liquidity rises, asset prices have risen along
Speaker 1: with it. Here are two great charts from ral Pal
Speaker 1: macro investor showing the global liquidity supplies on the way
Speaker 1: up and bitcoins price has been following it, so he's
Speaker 1: anticipating it going up. We've seen the breakout in M
Speaker 1: two in the United States as well as globally, so
Speaker 1: money printing is going to start again, guys, And once
Speaker 1: again we're heading into the next boom cycle, and you're
Speaker 1: going to see the benefits in the economy. And this
Speaker 1: is where we want to watch all of these different
Speaker 1: metrics and stats and know what our plan is as
Speaker 1: far as taking profits and so forth. However, as you
Speaker 1: can imagine, today was a very volatile day. As I've
Speaker 1: been telling you guys, any week there's a Fed announcement
Speaker 1: in FOMC meeting, there's a lot of volatility, So I
Speaker 1: can't judge this market right now. I'm actually going to
Speaker 1: wait till next week when the dust has settled and
Speaker 1: everybody is calmed down, because today we saw a lot
Speaker 1: of pumps, then dumps and so forth, and this could
Speaker 1: continue into the rest of the week. So we have
Speaker 1: to be patient, guys, and our patients will pay dividends,
Speaker 1: but we got to be patient and go through these cycles.
Speaker 1: And we're waiting for the DXY, the Dollar currency index
Speaker 1: to break down. I think it will break down below
Speaker 1: one hundred very soon. Right now it's at one oh one,
Speaker 1: So as the Fed cuts rates, the dollar will weaken.
Speaker 1: This will start going below one hundred, and then it's
Speaker 1: a full risk on investors. They're going to start to
Speaker 1: put money back into risk assets like crypto in the
Speaker 1: stock market. I've been telling you guys that there's six
Speaker 1: trillions sitting in money market accounts and as the rates
Speaker 1: continue to drop, those people are not going to get
Speaker 1: the same return, the same yield. They will now move
Speaker 1: it to risk assets as the money printing cycle starts.
Speaker 1: So keep all of these things in mind. It's when
Speaker 1: we don't want to invest with our emotions here. We
Speaker 1: want to look at the data and the facts and
Speaker 1: form our thesis. And as I've been saying, September is
Speaker 1: pretty much a bad month for markets, so I'm not
Speaker 1: anticipating anything while they're crazy or significant this month as
Speaker 1: far as gains. But come October, as we head into
Speaker 1: November and the whole of Q four, we should start
Speaker 1: to see some very strong rallies and hopefully Bitcoin can
Speaker 1: hit a new all time hind and it's gravitational pull
Speaker 1: and all coins it pulls them with it and we
Speaker 1: start to see more gains. So that's my outlook. Now
Speaker 1: I don't have a crystal ball, so none of these
Speaker 1: things are guaranteed, but we're using the data at least
Speaker 1: the form our thiets well, using historical patterns to form
Speaker 1: our thesis. So that's what we want to do, not
Speaker 1: with our emotions. So folks, I'm not expecting anything major
Speaker 1: in the immediate short term, but macro guys, I am
Speaker 1: super bullish. I see the money printing on the horizon,
Speaker 1: I see the lower rates. I see what's coming now.
Speaker 1: I do want to give a word of caution. Some
Speaker 1: people are saying, hey, I'm worried about this because historically
Speaker 1: when the FED has cut rates, the markets have tanked. Well,
Speaker 1: there's a couple of things that keep in mind. Could
Speaker 1: we have already seen the tank or the crash back
Speaker 1: in early August with the Japanese en trade. If you
Speaker 1: look at the SMP of five one hundred, that's a
Speaker 1: big pullback. Plus you had a pullback in early September.
Speaker 1: So could that be the pricing in of the rate cut? Right,
Speaker 1: That's something to keep in mind. And this is not
Speaker 1: like two thousand and eight. We don't have a big
Speaker 1: mortgage real estate bubble where there's fraudulent loans and all
Speaker 1: kinds of nonsense. You guys know what took place there, right,
Speaker 1: So we're nowhere near that. In fact, the housing market
Speaker 1: is pretty much dead. People are not selling because they've
Speaker 1: locked in low rates. So I say all these things
Speaker 1: to paint the picture of let's look at facts and
Speaker 1: form our thesis here. So I'm not expecting any type
Speaker 1: of two thousand and eight two thousand and one crash.
Speaker 1: And if you look at what took place in twenty
Speaker 1: twenty March twenty twenty, you guys know what took place, right,
Speaker 1: the markets crash, But what happened The Fed cut rates
Speaker 1: immediately and started printing money. And if you look at
Speaker 1: the v shape, it's incredible. That should have maybe took
Speaker 1: us into depression levels, but it didn't. That was a
Speaker 1: significant black Swan event, and he didn't. They bailed us out.
Speaker 1: And we've seen Janet Yellen has been bailing out the
Speaker 1: markets over the past few years. Look at what took
Speaker 1: place with the banking collapses in early twenty twenty three.
Speaker 1: Why didn't the collapse of SVB and those other banks
Speaker 1: have a bigger impact on the market because the Fed
Speaker 1: and Janet Yellen at the Treasury stepped in. She's been
Speaker 1: doing a quantitatives, you know, stealth QI as some would
Speaker 1: call it. So I'm not worried about some major crash
Speaker 1: because we don't have any set up like two thousand
Speaker 1: and eight, and what the Fed and Treasury are doing now.
Speaker 1: They're going full money printing, right, full on money printing
Speaker 1: that oh something broke, print more money in jecky liquidity.
Speaker 1: That's what we're saying. I'm not saying it's right. I'm
Speaker 1: just saying this is what the world we live in.
Speaker 1: So those are the things I'm looking at. For those
Speaker 1: who are saying, dude, this is bad, it means a
Speaker 1: big crash is coming. I think your big crash took
Speaker 1: place earlier in August. Look at the charts, Look at
Speaker 1: the SMP. That was a pretty significant pullback. So look,
Speaker 1: I could be wrong, but that's that's what I'm looking at,
Speaker 1: you know, as far as historical patterns and what is
Speaker 1: happening in the current day with the Treasury and the Fed.
Speaker 1: All right, let's move ahead, folks. Today, Johnald Trump made
Speaker 1: a surprise visit to pub Key. I don't know how
Speaker 1: many of you know about it. It's a bar. They
Speaker 1: have great burgers. I've been there a couple of times,
Speaker 1: and they are a pro bitcoin, so you can go
Speaker 1: there and buy burger and beer with bitcoin. He showed
Speaker 1: up and he actually bought something with bitcoin. Now the video.
Speaker 1: I'm not sure how many sided clips, but they were
Speaker 1: having a little bit of an issues scanning the QR
Speaker 1: code and doing some of the things. It was a
Speaker 1: little bit cringe. But I think in the grand scheme,
Speaker 1: this is so bullish for crypto. I mean, you got
Speaker 1: a former president presidential candidate doing this, and once again,
Speaker 1: you can hate Donald Trump or you can love him.
Speaker 1: That's not the point I'm trying to bring home here.
Speaker 1: I'm talking about adoption. I'm talking about crypto being ubiquitous.
Speaker 1: It's everywhere pop culture and politics, in tradfi and everywhere. Guys.
Speaker 1: That's the point. So pretty significant that Donald Trump did this.
Speaker 1: I'm not going to play the video because it's just
Speaker 1: Fox News showing them trying to figure out the QR
Speaker 1: code and so forth. But the point is they did
Speaker 1: eventually get it done and he paid in bitcoin. Significant move.
Speaker 1: In fact, some folks like Anthony Pamplana were there and
Speaker 1: so forth. They said this was a surprise thing, but
Speaker 1: I guess some people knew about it. If I knew
Speaker 1: he was going to be there, I would have shown up,
Speaker 1: because I've attended events here at this bar and went
Speaker 1: there for a couple of times. With some friends. So
Speaker 1: pretty significant stuff. Now, speaking of bitcoin, the state of
Speaker 1: Louisiana becomes the first in the nation to accept bitcoin
Speaker 1: via the Lightning Network. The Louisiana Treasury probably announced the payment,
Speaker 1: as well as their ability to accept bitcoin and USD
Speaker 1: stable coins. Folks, we've crossed the chasm. It's incredible what's
Speaker 1: taking place. I hope you see how bullish this news is. Now,
Speaker 1: Blackrock continues their promotion of bitcoin and crypto while people
Speaker 1: are scared, and there's a whole bunch of stuff going on.
Speaker 1: Blackrock today put out a nine page white paper that
Speaker 1: makes the case for bitcoin ETPs as a unique diversifier
Speaker 1: that can hedge against fiscal, monetary, and geopolitical risk, and
Speaker 1: also includes a section called Bitcoin's path to a one
Speaker 1: trillion dollar market cap. And you can go read that
Speaker 1: white paper, guys, you know what. I'll link to it
Speaker 1: in the description so you can check it out. The
Speaker 1: world's wealthiest asset manager is putting out a white paper
Speaker 1: here on bitcoin and why you should invest in bitcoin, guys.
Speaker 1: And if you look at this, they have a chart
Speaker 1: analysis in here. It's amazing. I am so bullish. I
Speaker 1: don't care what the hell happens tomorrow or early next week.
Speaker 1: Oh no, the market's down now. I'm bullish long term guys. Now,
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Speaker 1: their doing some great things. All right, Moving ahead, Europe's
Speaker 1: third biggest stock exchange is exploring launching a bitcoin and
Speaker 1: crypto exchange. Of course they are, of course they are.
Speaker 1: Everybody wants to get a piece of this pie. No
Speaker 1: one wants to get left behind. Game theory is playing
Speaker 1: out here. You've got the largest financial institutions in the world, bank,
Speaker 1: stock exchange, investment firms are all jumping in and the
Speaker 1: on ramps are being built globally for both retail and
Speaker 1: institutional capital. Here's some more bullish news. Google Cloud releases
Speaker 1: an Ethereum compatible RPC service. So Google has been doing
Speaker 1: a lot with crypto. They're part of the Hedera Governing Council.
Speaker 1: They've been testing a lot with chain Link and etherorem
Speaker 1: and so forth. So Google rolled out a blockchain Remote
Speaker 1: Procedure call RPC to let developers access blockchain data through
Speaker 1: API calls. It supports the theorem and its test networks,
Speaker 1: with plans to expand to additional blockchains next week. Do
Speaker 1: you see what's happening? The biggest tech companies in the
Speaker 1: world are building with this technology, integrating it, launching services.
Speaker 1: Just the other day I told you guys about Sony
Speaker 1: and that electronic maker and tech company. They launched their
Speaker 1: own blockchain called Sonium, and in fact they partner with
Speaker 1: Circle to do some things with USDC recently, and they
Speaker 1: are planning to launch a crypto exchange in Japan. This
Speaker 1: is amazing stuff, folks. I am so bullish. Now we
Speaker 1: got some big news here about bitco. You may recognize them.
Speaker 1: They're one of my sponsors. So Bitco to enter the
Speaker 1: stable coin market with reward bearing USDs coin. So it
Speaker 1: seems like everybody is launching a stable coin these days.
Speaker 1: So bitco says it's launching a stable coin in January
Speaker 1: twenty twenty five, call USDs. This stable coin will provide
Speaker 1: rewards to institutions which power its liquidity. So Bitco's one
Speaker 1: of the top chier custodians in the market. They are
Speaker 1: working with many big companies. They custody some of the
Speaker 1: funds for ETFs, the ETF issuers, and bitgo works with exchanges,
Speaker 1: hedge funds and so forth. So launching a stable coin
Speaker 1: makes sense. I think we're going to see a lot
Speaker 1: more stable coins come into the market. It just makes sense.
Speaker 1: Now eventually that market will become saturated where eventually you know,
Speaker 1: the winners are going to be clear and the losers
Speaker 1: are going to end up getting acquired or go out
Speaker 1: of business. That's just the nature of markets. We've seen
Speaker 1: it many times over. But it's great that these folks
Speaker 1: are building these solutions and stable coins are one of
Speaker 1: the biggest use cases of blockchain and crypto folks, and
Speaker 1: one of the great things is they add utility to
Speaker 1: different blockchains. You look at USDC. It's available in so
Speaker 1: many blockchains right, it's not specific to one chain, so
Speaker 1: that's a great thing and helps these different chains to
Speaker 1: grow as well and adds more liquidity to them. Now
Speaker 1: here's another stable coin that's coming. Many of you may
Speaker 1: have heard of that app. I think they're more UK based.
Speaker 1: They're going to launch their own stable coin. So, like
Speaker 1: I said, the stable coin market is heating up. It's
Speaker 1: almost stable coin wars now, it's all out of competition.
Speaker 1: I just interviewed the other day Robin who It's crypto
Speaker 1: general manager, and I asked them, I said, hey, are
Speaker 1: you guys planning to launch a stable coin? Robinhood has
Speaker 1: a huge customer base. They're expanding to Europe, so it
Speaker 1: would be pretty beneficial to them to do that. But he,
Speaker 1: of course can't answer that question. So I expect, you know,
Speaker 1: almost everybody to do this. It absolutely makes sense because
Speaker 1: you can make money up the stable coin, you can
Speaker 1: increase settlement within your own customer base and network, so
Speaker 1: it absolutely makes sense. Now, guys, today was the big
Speaker 1: SEC hearing where it didn't include the SEC folks, right,
Speaker 1: but it was called the let me pull it up
Speaker 1: here days then confuse breaking down the SEC's politicized approach
Speaker 1: to digital assets. So, of course the SEC coming under
Speaker 1: major criticism here. You had a bunch of industry folks
Speaker 1: who showed up and were highlighting how hard it has
Speaker 1: been to run a crypto business under this administration. And
Speaker 1: you know, we've covered it time and time again, all
Speaker 1: the wells noses, all the lawsuits. But I think what's
Speaker 1: important here the major takeaway, and it's significant because of
Speaker 1: who it came from, and that is Dan Gallagher. He's
Speaker 1: the chief legal officer and corporate affairs officer at Robin Hoods.
Speaker 1: And Dan used to work at the SEC. So this
Speaker 1: is where his comments carry a lot of weight, right,
Speaker 1: you got to x SEC officially he works for robinhood
Speaker 1: and so forth. Here's what he said. We heard Cherry A.
Speaker 1: Ganser's call to come in and register Laddin. Clearitce at Gallagher,
Speaker 1: who was previously a Republican commissioner at the SEC. Admittedly
Speaker 1: I scratched my head a bit because there was no
Speaker 1: established regime, at least published regime, But being seasoned securities lawyers,
Speaker 1: we thought we'll just roll up our sleeves and he
Speaker 1: talked about how it's been difficult, and the SEC has
Speaker 1: just been tough to work. And you know, there was
Speaker 1: the naysayers out there, you know, the Warren Nights, the
Speaker 1: Elizabeth Warren cronies who were trying to push back. But
Speaker 1: this was an important hearing because it sets the table
Speaker 1: for the big hearings coming next week, one with Genser
Speaker 1: himself by himself, I should say, and then the next
Speaker 1: one where Ginser with the other four commissioners at the agency.
Speaker 1: That one is going to be interesting. So it's great
Speaker 1: that the table is being set here because what this
Speaker 1: also does. I know some of you may say, oh,
Speaker 1: they're just talking all these letters. It's actually helping to
Speaker 1: bring awareness to the problems with the SEC because there
Speaker 1: are still a lot of people in Congress who are naysayers,
Speaker 1: who are not educated, right, that's a common issue. Put
Speaker 1: the naysayers aside. There's a lot of people who don't
Speaker 1: know much about what's happening. They just think, oh, whatever,
Speaker 1: I'll follow Elizabeth Warren. But what I've heard from people
Speaker 1: in DC, the more advocacy, the more education work we do,
Speaker 1: and we can get a lot of these people to
Speaker 1: leave Elizabeth Warren's anti crypto army. Remember that Republican member
Speaker 1: of Congress. I forgot his name. He was a senator.
Speaker 1: He was backing Elizabeth Warren. He was co signing Elizabeth
Speaker 1: Warren's de facto Crypto band bill. He backed out. He
Speaker 1: backed out. So that's what we want, right We want
Speaker 1: to pull these people away from Elizabeth Warren, who she
Speaker 1: lied to and so forth. And we're seeing some of that.
Speaker 1: So this is why these hearings, these letters are important,
Speaker 1: even though there's no immediate tangible response to it. It's
Speaker 1: a snowball effect. It's slowly building, and we're building momentum
Speaker 1: here and stealing people away from Elizabeth Warren. Part of
Speaker 1: that process is Crypto is spending a lot of money,
Speaker 1: as I've been telling you guys in the election here,
Speaker 1: Eleanor Tarrod says, Crypto Advocacy Group mobilizes one hundred thousand
Speaker 1: voters as election day nears. Stand with Crypto will celebrate
Speaker 1: its Stand with Crypto day tonight in DC. So that's
Speaker 1: happening right now, with appearances from Brian Armstrong, while he Nickel,
Speaker 1: Patrick McHenry, and the Chainsmoker. So we're seeing events like
Speaker 1: this which are important getting voters out and don't get
Speaker 1: me wrong. Crypto has been spending and supporting pro crypto
Speaker 1: candidates on the Democrat and Republican side, So we're making progress, guys.
Speaker 1: I'm optimistic. We've come so far. I mean, just last
Speaker 1: week we had a hearing on DeFi and the first
Speaker 1: ever and that was surprising to me. Getting the fit
Speaker 1: twenty one bill path of the House earlier this year
Speaker 1: was surprising. So I think next year we're going to
Speaker 1: see a lot more progress. And we've come so far,
Speaker 1: so I'm very bullish. The macro is setting up, the
Speaker 1: legislation side is setting up. Big things happening here, folks.
Speaker 1: Let me know what you think. Leave your thoughts and
Speaker 1: comments below. Be sure to sign up for my free
Speaker 1: email news that are on Substack. It's one hundred percent free.
Speaker 1: And don't forget to grab a copy of my book,
Speaker 1: Rethinking Crypto on Amazon. It's available in paperback and digital.
Speaker 1: Grab a copy to support the podcast, Grab a few
Speaker 1: copies for your friends and family who want to learn
Speaker 1: about crypto, and if you bought a copy already, please
Speaker 1: leave a rating and review. It will really help me
Speaker 1: out there. Thank you so much. I appreciate you all,
Speaker 1: and I'll talk to you all later,