Speaker 1: New Hampshire becomes the first state to pass a bigcoin
Speaker 1: reserve bill. This is huge and historic. I'll give you
Speaker 1: all the details. And it was chaos at the crypto
Speaker 1: hearing today with Congress. I'll share what happened and who
Speaker 1: walked out and all the craziness that took place. Let's
Speaker 1: get into it. Hey, everybody, welcome into the Thinking Crypto podcast.
Speaker 1: You're home for cryptocurrency news and interviews. I'm your host,
Speaker 1: Tony Edward. On your way in. Please let that subscribe
Speaker 1: button as well as a thumbs up button and leave
Speaker 1: a comment. Blow If you're listening on a podcast platform
Speaker 1: such as Spotify or Apple, please leave a five star
Speaker 1: rating and review. Folks. Tomorrow, we are going to hear
Speaker 1: from the FED if they are going to cut rights.
Speaker 1: Right now, the markets are anticipating there will be no
Speaker 1: ray cut. But could we get surprised by the Fed.
Speaker 1: It's a possibility, but you know, we'll have to wait
Speaker 1: and see. But the other factor that I'm more curious
Speaker 1: about is if Jerome Powell's signals the end of because
Speaker 1: the last meeting he said that they were ramping down
Speaker 1: quantitative tightening. They dropped it by eighty percent. And you
Speaker 1: know all the things that they do there, and as
Speaker 1: we've been talking about for the past two to three years,
Speaker 1: we are on the path to quantitative easing where they
Speaker 1: are going to be supporting the markets, buying securities, printing money. Again,
Speaker 1: that is the status quo. They can't escape from it.
Speaker 1: Congress wants what is it, six trillion dollars, they're raising
Speaker 1: the debt ceiling. How do you pay for all that?
Speaker 1: We know how the story ends, and that is quantitative easing, folks.
Speaker 1: So it's just a matter of hearing this or getting
Speaker 1: the signal from Jerome Powell, because if he simply signals
Speaker 1: that qt's wrapping up and they're going to start quantitative
Speaker 1: easing sometime this year, that's all the markets need to hear.
Speaker 1: Because the markets are forward looking and they know more money,
Speaker 1: more liquidity is coming. And we've been tracking global liquidity
Speaker 1: and that has been on the rise, and we see
Speaker 1: bitcoin in the stock market and all these assets are
Speaker 1: moving with it. So tomorrow's a big day and expect volatility.
Speaker 1: By the way, as usually in any week, there's a
Speaker 1: FED announcement, ors FED meeting. What's interesting and shout out
Speaker 1: to Marty Party on X here he highlighted that the
Speaker 1: FED has started to do some stealth QI. So Janet Yellen,
Speaker 1: when she was in office with the Biden administration, was
Speaker 1: doing a bit of this backdooring liquidity and much more
Speaker 1: from the Treasury. And Marty provided the following Treasury news breakdown,
Speaker 1: and he said, today the US Treasury auctioned three year
Speaker 1: treasury bonds. They tried to sell one hundred and fifty
Speaker 1: billion dollars but only sold seventy eight billion. Look at
Speaker 1: the FED line item sooma or SOMA. This is the
Speaker 1: FED buying twenty billion themselves. So notice the Fed going back.
Speaker 2: To buying some of these things supporting you know, it's
Speaker 2: not making the big headlines. It's not the official quantitative
Speaker 2: easing headlined. We're printing money, we're doing stimulus, right, but
Speaker 2: backdooring it. So all of this is going to contribute
Speaker 2: to global liquidity rising, which results in higher prices for assets.
Speaker 2: So I like what I'm seeing here. So this timeline
Speaker 2: or these activities, and maybe we hear something tomorrow aligns
Speaker 2: with the bullmarket continuing, folks, So just be prepared. And
Speaker 2: we see today bitcoin was actually moving up. It's currently
Speaker 2: over ninety seven thousand dollars. Let's see if this continues.
Speaker 2: But I can't really judge.
Speaker 1: Anything this week because once again a lot of volatility
Speaker 1: anytime you have announcements with the Fed. Now, folks, we
Speaker 1: had some of the most bullish news today. New Hampshire
Speaker 1: becomes the first state to pass a strategic bitcoin reserve
Speaker 1: bill into law. This is a landmark win, folks, incredible.
Speaker 1: We've been tracking different states, some have rejected, some have delayed.
Speaker 1: Recently we reported on Arizona's governor not a fan of
Speaker 1: what was happening here, I'm looking to stop the bill.
Speaker 1: But we got the first state. And as I always
Speaker 1: tell you, guys, it just takes one state to move
Speaker 1: and then the rest will follows will follow because game
Speaker 1: theory is going to play out. So of course, this
Speaker 1: gives the state the ability to establish a Bitcoin and
Speaker 1: digital assets reserve fund and they can buy the assets
Speaker 1: directly or through an ETF. So incredible stuff. And I'm
Speaker 1: going to have Dennis Porter from this Atoshi Action Fund
Speaker 1: on the podcast tomorrow because he's the one that's been
Speaker 1: working with the different states across the nation to try
Speaker 1: to get this done. So this is a huge win.
Speaker 1: And recently I mentioned in one of my podcasts that
Speaker 1: even if none of these states approved this year, the
Speaker 1: fact that we got this far along in the process,
Speaker 1: where the states got it through their House and their Senate,
Speaker 1: so to speak, right their whole legislative process, is a
Speaker 1: huge victory. It got further than expected. And that also
Speaker 1: there was a likelihood that one or two states would
Speaker 1: get this done because on the federal level, the government
Speaker 1: is looking to establish a strategic bitcoin reserve. Trump signed
Speaker 1: the executive order, right, so things are moving in the
Speaker 1: right direction here, guys. And as always, it starts a
Speaker 1: bitcoin and they will eventually make their way to all coins.
Speaker 1: We're seeing it on the ETF front and other fronts
Speaker 1: as well. So this is this is just amazing. It's
Speaker 1: essentially the nation's first bitcoin and digital assets reserve fund.
Speaker 1: Because on the federal level, they're still looking for revenue
Speaker 1: neutral ways to do this where it doesn't affect the taxpayers.
Speaker 1: They don't use taxpayer money to pay for this. But
Speaker 1: on the state level it's a bit different. And you know,
Speaker 1: as we've been talking about, bitcoin and crypto are the
Speaker 1: fastest horse in the race. They're going to help the
Speaker 1: state pensions and investment funds to be able to grow
Speaker 1: you know, in value and wealth of course, and that
Speaker 1: will work out well locally. So this is incredible news, guys.
Speaker 1: I hope you realize how significant this is. And here's
Speaker 1: just a photo of the New Hampshire Governor, Kelly A.
Speaker 1: Yote from saying that right she officially signed a bill
Speaker 1: into law. And it's just, I mean, just amazing stuff here.
Speaker 1: This is historic, guys. Historic. Now when we look at
Speaker 1: the tracker as far as which states are in the lead,
Speaker 1: so obviously New Hampshire they have enacted it. Arizona is
Speaker 1: one step away from this being enacted. North Carolina is
Speaker 1: two steps away, and then we also have Texas is
Speaker 1: two steps away. In Alabama is about three steps away.
Speaker 1: So these are the states that are in the lead
Speaker 1: essentially to get this done. And I think the fact
Speaker 1: that New Hampshire got it done it's going to make
Speaker 1: it easier for the other states to follow suit because
Speaker 1: you have a clear leader in the space and no
Speaker 1: one wants to get left behind and game theory, you
Speaker 1: guys know, I've talked about that at nauseam. But I
Speaker 1: hope you understand how significant this is. And we continue
Speaker 1: to see more buying a bitcoin from the ETF issuers,
Speaker 1: so black rocks. Ibit took in another half a billion
Speaker 1: dollars yesterday into their ETF of course, extending inflow streak
Speaker 1: to fifteen days and is now the sixth in year
Speaker 1: to date flows, passing Gold, which is notable because ibid
Speaker 1: is only up four percent versus gold having the run
Speaker 1: of its life. Aric Balchunis of Bloomberg says, to take
Speaker 1: in more cash in that scenario is a really good
Speaker 1: sign for long term and inspires confidence in our call
Speaker 1: that bitcoin ets will have triple goals au M in
Speaker 1: three to five years. So this is incredible what's happening.
Speaker 1: And as more states past the bitcoin reserve, guess where
Speaker 1: they're most likely going to buy their bitcoin from the
Speaker 1: ETFs and who's going to be at the top of
Speaker 1: this black rock? See how this is all playing out
Speaker 1: the Wall Street takeover here. So this is why I'm
Speaker 1: bullish on bitcoin long term as a store of value
Speaker 1: digital goal. There's some bitcoin I'm never selling. I've often
Speaker 1: said I'm going to hand it down to my daughter.
Speaker 1: There will be some I'm taking profits on this cycle,
Speaker 1: of course, because first and foremost I need to make
Speaker 1: sure my financial situation is in a good place right,
Speaker 1: expanding my retirement, paying off debt, and having more financial freedom.
Speaker 1: So that's number one. And I'm going to rinse and
Speaker 1: repeak for the different bullmarket cycles, this bullmarket and then
Speaker 1: the next bullmarket of twenty twenty eight into twenty thirty.
Speaker 1: So I'm preparing to squeeze as much juice out of
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Speaker 1: The link will be in the description. Now, folks, today
Speaker 1: it was chaos on Capitol Hill as a crypto hearing
Speaker 1: in the House just got derailed by some top Democrats,
Speaker 1: including Maxine Waters, who you can see the photo here,
Speaker 1: walked out and her and some other Democrats also did
Speaker 1: the same thing. And the House Committee on Agriculture it's
Speaker 1: a Republican committee, tweeted out while Maxine Waters rushed out
Speaker 1: the door. Adults remain in the room, Republicans and Democrats
Speaker 1: working together on bipartisan efforts to bring clarity to the
Speaker 1: digital asset space. Now, not all Democrats left, but obviously
Speaker 1: Maxine Waters left, and she actually had folks go to
Speaker 1: another hearing that was talking about Trump's crypto corruption. So
Speaker 1: they're really using Trump's businesses in crypto like we're liberty,
Speaker 1: financial and much more to go against Trump. So it's
Speaker 1: getting nasty here, and this is I hate politics and
Speaker 1: I hate stuff like this, and I hope they are
Speaker 1: able to get this done, folks, because we need the legislation,
Speaker 1: We need the regulation done so that the industry can
Speaker 1: have the clarity, but also consumers can be protected. If
Speaker 1: we don't do that, a lot of people are going
Speaker 1: to have issues. We could have another FTX problem. Right.
Speaker 1: You need the regulators to have the guardrails. You need
Speaker 1: the crypto companies to know who to go to, who
Speaker 1: to plug into, and have full transparency and oversight because
Speaker 1: we can't have CELSIS and FTX and all these things happen.
Speaker 1: We need the right things to happen, and obviously we
Speaker 1: want innovation to flourish as well. So this is getting
Speaker 1: really really nasty. It's a mess. And there's even a
Speaker 1: clip of one Congressman just not even adhering to the
Speaker 1: rules and Representative Brian Style, who I've had on the podcast.
Speaker 1: You know, he had to correct Congressman and it was
Speaker 1: just really hard to watch. But you know, hopefully they
Speaker 1: can get some sort of resolution here and we can
Speaker 1: move forward now. Mike Belshie, founder and CEO Bitgo, who
Speaker 1: I've had on the podcast many times, and I'm a
Speaker 1: big fan of Mike's. He's a Web one point zero
Speaker 1: guy and worked at Google on Chrome and much more,
Speaker 1: and obviously here building one of the biggest crypto companies.
Speaker 1: It's a huge crypto custodian, he tweeted out this morning
Speaker 1: heading out of DC this morning after dinner with Donald
Speaker 1: Trump last night. We've had a wave of strong wins
Speaker 1: for the crypto industry already this year thanks to his leadership,
Speaker 1: and we've put America back into the leadership role for
Speaker 1: the future of finance and capital markets. There is more
Speaker 1: work to do, and this week we are calling on
Speaker 1: Congress to continue to support for crypto by passing the
Speaker 1: Genius Act, which brings clarity to business, safety to users,
Speaker 1: and strengthens the dollar globally. This is a unanimously positive
Speaker 1: bill for crypto voters, and crypto voters will remember your support. Aditionally,
Speaker 1: yesterday brought our first updated look at the Market Structure Bill,
Speaker 1: which we hope will ultimately pass. This here also, it's
Speaker 1: time to biddle with confidence and safety. So great to
Speaker 1: see that these CEOs and founders are engaging with Donald
Speaker 1: Trump and the members of the federal government to try
Speaker 1: to get all these things done, and we absolutely need
Speaker 1: the engagement there. Now, speaking of stable coins, we have
Speaker 1: some news here around tether. So Tether adds chain analysis,
Speaker 1: tokenization platform for compliance and monitoring. Tether the issuer of
Speaker 1: the world's largest stable coin by market cap. USDT has
Speaker 1: announced a partnership with Chaninnalysis that will integrate the company's
Speaker 1: compliance and monitoring tools onto Tether's tokenization platform. The move
Speaker 1: comes amid expanding oversight across the crypto industry. Launched in
Speaker 1: November twenty twenty four, the had Drawn by Tether platform
Speaker 1: is designed for institutions, corporations, and governments entities that may
Speaker 1: be interested in tokenizing real world as sets ranging from
Speaker 1: financial instruments and real estate to debt and commodities. So
Speaker 1: this is great changealysis. They do a lot of on
Speaker 1: chain data and analytics and forensics and much more. So
Speaker 1: great to see tethers plugging into this, and you know
Speaker 1: they may be able to provide more transparency around what
Speaker 1: they're doing. So this is a pretty big win here
Speaker 1: for Tether. Now we have some ETF news, so bit
Speaker 1: Wise has filed for a near ETF, so many of
Speaker 1: you may know about the near protocol. I believe they're
Speaker 1: one of the AI themed blockchains out there. So we
Speaker 1: continue to see more demand for all coinitias, and I
Speaker 1: think this is going to really put more pressure on
Speaker 1: the SEC to approve these things and here's another one.
Speaker 1: Twenty one Shares launches an ETP for Crypto dot COM's
Speaker 1: Chronos token, so the cro product, and I think this
Speaker 1: could do well as Crypto dot Com has partnered with
Speaker 1: the Trump Media Group to launch some eats and much more. So.
Speaker 1: This is pretty big, guys. Things are growing, things are expanding,
Speaker 1: We're seeing more demand, and I think we get crypto
Speaker 1: legislation done this year. It's going to be huge, huge, huge,
Speaker 1: huge for the market. It could signal the top by
Speaker 1: the way, you know, with all these things, but this
Speaker 1: is where you need to have a profit taking plan.
Speaker 1: Bull Markets don't last forever, and there will be a
Speaker 1: bear market. It's not the nature of markets. This is
Speaker 1: the same thing for the stock market, right, nothing goes
Speaker 1: up in a straight line. Just remember what happened in
Speaker 1: twenty twenty two. For all of you who think there's
Speaker 1: not going to be a bear market, just go look
Speaker 1: at the stock market in twenty twenty two, Look at
Speaker 1: crypto in twenty twenty two. So remember, don't move by emotions.
Speaker 1: Use the data, use pattern recognition, use the charts, use
Speaker 1: the on chain data and metrics and much more to
Speaker 1: form your thesis. Don't go by your gut and oh
Speaker 1: I feel this is going to happen. No, but the
Speaker 1: markets don't care about your feelings. They what you need
Speaker 1: to to do is look at what's happening. This is
Speaker 1: why I update you guys on the charts, the unchained data,
Speaker 1: what whales are doing, what the FED is doing, because
Speaker 1: the FED impacts markets from a macro perspective, right, all markets.
Speaker 1: So that's why we're watching for QE and ray cuts
Speaker 1: and all these things. Not that necessarily ray cuts mean
Speaker 1: that the markets are gonna pump, but we're looking to
Speaker 1: see that the FED is gonna turn dubvish right and
Speaker 1: they start to opening up more liquidity and much more.
Speaker 1: That That is what we care about, not so much
Speaker 1: that the rates are getting cut. It's it's a sentiment
Speaker 1: and the forecasting of the future path that we're headed towards.
Speaker 1: So it's it's like dominoes, right, you know, as a
Speaker 1: domino's fall. So that is what we're paying attention to, folks.
Speaker 1: So that's the news. Let me know what you guys think.
Speaker 1: Leave your thoughts to comments below, hit the thumbs up button.
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Speaker 1: you guys for watching and listening. I appreciate you all
Speaker 1: and I'll talk to you all later in two tho
Speaker 1: two