Speaker 1: You won't believe this. JP Morgan is launching more crypto services.
Speaker 1: They will launch financing for crypto et apps. At the
Speaker 1: same time, Jamie Dimon continues to spread fut about the
Speaker 1: acid class and California passes a huge bitcoin bill. I'll
Speaker 1: give you the details. Let's get into it. Hey, everybody,
Speaker 1: welcome into the Thinking Crypto podcast. You're home for cryptocurrency
Speaker 1: news and interviews. I'm your host, Tony Edward. On your
Speaker 1: way in. Please sit that subscribe button as well as
Speaker 1: the thumbs up button and leave a comment below. If
Speaker 1: you're listening on a podcast platform such as Spotify or Apple,
Speaker 1: please leave a five star rating and review. Folks, I
Speaker 1: want to let you all know about something that took
Speaker 1: place today, and it's along the lines of what I've
Speaker 1: been saying for a long time, and that is the
Speaker 1: United States Federal Reserve and the other central banks around
Speaker 1: the world will continue to print money because this is
Speaker 1: the Fiat system, and this is why we have to
Speaker 1: position ourselves in assets to outpace the debasement and the inflation.
Speaker 1: So today Donald Trump tweeted out he is an agreement
Speaker 1: with Elizabeth Warren to remove the debt ceiling. Look at
Speaker 1: what's happening here, Elizabeth Warren of all people. But this
Speaker 1: is what I've been telling you, guys, Democrats and Republicans.
Speaker 1: The one thing they agree on is to keep raising
Speaker 1: that death ceiling and keep printing. And we've been tracking
Speaker 1: global liquidity, which is fed by the amount of money
Speaker 1: and liquidity that's pumped in by these central banks, and
Speaker 1: that has been on the rise, and bitcoin and all
Speaker 1: the assets follow global liquidity. So I hope you are
Speaker 1: seeing what is taking place here. I hope this is
Speaker 1: eye opening for you because this goes against a lot
Speaker 1: of the political theater, the muzzling and we've seen, and
Speaker 1: I believe that is just to distract you from the
Speaker 1: fact that the Fed and these central banks are doing
Speaker 1: these things, and obviously the politicians are in bed with
Speaker 1: them to do this, right, So it just shows you
Speaker 1: that we need to make sure we keep our eyes
Speaker 1: on what we need to do from an investment standpoint
Speaker 1: to outpace this madness and generate wealth for ourselves. Folks.
Speaker 1: And let me just read what Donald Trump posted on
Speaker 1: truth Social So he shared an image of Elizabeth Warren
Speaker 1: tweeting at him from I think it was in May.
Speaker 1: She said, Donald Trump and I agree the debt limit
Speaker 1: should be scrapped to prevent an economic catastrophe. Let's pass
Speaker 1: a bipartisan bill and get rid of it forever. Donald
Speaker 1: Trump today tweeted out a screenshot of that, saying, I
Speaker 1: am very pleased to announce that, after all these years,
Speaker 1: I agree with Senator Elizabeth Warren on something. The debt
Speaker 1: limit should be entirely scrapped to prevent an economic catastrophe.
Speaker 1: It is too devastating to be put in the hands
Speaker 1: of political people that may want to use it, despite
Speaker 1: the horrendous effect it could have on our country and
Speaker 1: indirectly even the world. YadA, YadA, YadA, folks, they remove
Speaker 1: that debt ceiling, what do you think is going to happen.
Speaker 1: It's going to make it easier for him to print
Speaker 1: and print and print. We are going to continue to
Speaker 1: see the debt rise to new all time highs, and
Speaker 1: so will asset prices because the more you debase the currency,
Speaker 1: the less purchasing power the fiat currency has. But the
Speaker 1: prices of assets skyrocket, So that includes crypto, precious metals,
Speaker 1: the stock market, real estate, and much more. But as
Speaker 1: Paul Tutor Jones said in twenty twenty after they printed
Speaker 1: the most money in the history of the United States.
Speaker 1: He said, Big Quinn and Crypto are the fastest horse
Speaker 1: in the race. So you want to position yourself in assets,
Speaker 1: and of course Crypto if you want to get that
Speaker 1: bigger return. Crypto's the big macro trade. Folks, look at
Speaker 1: what's happening here. Trump and Elizabeth Warren have mud slang
Speaker 1: and called each other names. I'm talking NonStop heated battles. Right.
Speaker 1: Trump usually calls her Pocahontas and so forth. But look
Speaker 1: at what the agree on, folks. I hope this is
Speaker 1: eye opening for many of you. This is something I've
Speaker 1: been trying to get folks to understand and to not
Speaker 1: get caught up into political theater and narratives. If you're
Speaker 1: caught up in that and you're worshiping politicians and much more,
Speaker 1: you're going to be disappointed because the things they agree on.
Speaker 1: If you don't understand what the outcomes and what happens
Speaker 1: as a result of that to you and your money,
Speaker 1: then you're missing the mark. You are falling for the
Speaker 1: political theater. They don't care about the debt. It is
Speaker 1: all a facade. The Fiat system requires that you keep printing. Now,
Speaker 1: you could say, hey, we shouldn't be printing as much
Speaker 1: and we shouldn't be spending as much. Yes that I
Speaker 1: agree with that, but at the end of the day,
Speaker 1: they have to keep printing, regardless of if you. Elon
Speaker 1: comes in and cuts a trillion, and obviously he wasn't
Speaker 1: able to do that. He was only able to cut
Speaker 1: like one hundred and seventy five billion, right, and he
Speaker 1: had to get out of the government, and he's actually
Speaker 1: criticizing Republicans that much more. You guys are going to
Speaker 1: spend more and blah blah, blah, blah blah. But this
Speaker 1: is the Fiat system. Not even Elon can stop it, folks.
Speaker 1: And this is a setup that exists globally, and of
Speaker 1: course bitcoin and crypto we're going to move against that.
Speaker 1: And this is why I keep tracking global liquidity because
Speaker 1: assets are correlated to it. And like I said, what's
Speaker 1: feeding into the global liquidity number the more money printing
Speaker 1: that they do. So please understand this, folks. It's foundational
Speaker 1: to investing, whether you're investing in stocks, real estate, much more.
Speaker 1: This is what's driving asset prices now, folks. On that note,
Speaker 1: we continue to see whales are accumulating. Here's data from
Speaker 1: Santiment today. We saw a huge spike. So despite the
Speaker 1: volatility some of the pullbacks for bitcoin, while it's with
Speaker 1: ten or more, Bitcoin saw a massive spike. And I'm
Speaker 1: going to have Brian from Santaman on later this week.
Speaker 1: We're going to break this down. But huge spike. We
Speaker 1: are still in a ballmarket. I know there's going to
Speaker 1: be people who don't believe that because they're caught up
Speaker 1: in their emotions, but the data doesn't lie. And folks,
Speaker 1: you won't believe this. Look at this news. JP Morgan
Speaker 1: plans to offer its clients financing against crypto ets so
Speaker 1: it's being reported by Bloomberg. JP Morgan and Company will
Speaker 1: allow trading and wealth management clients to use cryptocurrency linked
Speaker 1: assets as collateral for loans, starting with black Rocks, I
Speaker 1: Shares Bitcoin trusts. Oh my gosh, I hope some of
Speaker 1: you took your positions. Folks. The world's largest bank is
Speaker 1: doing this and they're going to issue loans against ETFs
Speaker 1: and much more. And just remember what Jamie Diamond said
Speaker 1: a week ago. This man is the master of playing
Speaker 1: smoke and mirror games. He said the US should be
Speaker 1: stockpiling missiles, not bitcoin. So he continued his funding criticism.
Speaker 1: So while he as the figurehead, the CEO, saying these
Speaker 1: things for the masses, distracting them, telling them, ah, don't
Speaker 1: worry about it. His bank, the world's largest bank, is
Speaker 1: building all of these crypto services and products. Folks. This
Speaker 1: is the game, and I've talked about it for years,
Speaker 1: So please please recognize what's happening here. It's important because
Speaker 1: this is the game they've been playing for a long time.
Speaker 1: And I'm trying to wake up some of you, like
Speaker 1: pull you out of the matrix, right, like what happened
Speaker 1: with Neo and the matrix. Right, he gets unplugged and
Speaker 1: his eyes are open. I'm trying to help you understand
Speaker 1: that that this is how the markets and the economy works.
Speaker 1: And they don't teach us in school about the money
Speaker 1: printing and the Fed and much more. And obviously these
Speaker 1: big banks JP Morgan much more. They are plugged in
Speaker 1: to the Fed and the Treasury and much more so.
Speaker 1: The bank will also consider clients crypto holdings when assessing
Speaker 1: their overall net worth and liquid ascids, similar to stocks, cars,
Speaker 1: or art. Oh. So Jamie's recognizing the crypto asset class.
Speaker 1: It's a legit acid to them if they're going to
Speaker 1: recognize it as part of their client's portfolio. So the
Speaker 1: changes will apply to all of the bank's clients globally,
Speaker 1: spanning multiple levels of wealth, and come as big banks
Speaker 1: respond to client demand and a more favorable regulatory environment. Folks,
Speaker 1: we're still in the bullmarket. This acid class is on
Speaker 1: the rise. It's getting adopted by the largest institutions in
Speaker 1: the world. I've been telling you all blockchain will be
Speaker 1: the rails that the government's and the economies and the
Speaker 1: markets will run on. Be patient. Understand the market cycles
Speaker 1: follow the macro things like global liquidity and much more.
Speaker 1: So great times are ahead, and not only for this cycle,
Speaker 1: but for future bullmarket cycles. And as I've told you guys,
Speaker 1: I am going to take some of my profits from
Speaker 1: this cycle, reinvest it in the bloody beer market of
Speaker 1: twenty twenty seven, prepare for the twenty twenty eight to
Speaker 1: twenty thirty bull market. So that's my plan, and I'm
Speaker 1: going to ride this institutional wave of folks coming in.
Speaker 1: But Jamie Dimond is something else, isn't he playing that
Speaker 1: smoke and Mirror's game. Spreading lies and fud while his
Speaker 1: bank is doing all these things. Folks. Now, the folks
Speaker 1: at Bloomberg, Eric Balachunez and James Seyfert gave a full
Speaker 1: breakdown of who is invested in bigcoinyts as it relates
Speaker 1: to financial institutions, and it's very interesting. So Eric Balchuni
Speaker 1: has said, nice, look at the breakdown of holders of
Speaker 1: the spot big one ETFs via thirteen F filings. So
Speaker 1: this is confirmed by the you know, thirteen F filings
Speaker 1: with the sec advisor has surged up the list a
Speaker 1: now number one by mile. These thirteen F filers make
Speaker 1: up twenty percent of total assets, but in my opinion
Speaker 1: that is likely to rise to thirty five to forty
Speaker 1: percent as more adoption comes. So leading the number one
Speaker 1: spot as far as exposure is investment advisors number two,
Speaker 1: hedge fund managers number three, brokerage number four, of holding
Speaker 1: company number five, government number six, bank number seven, private equity,
Speaker 1: and then followed by trust and endowment. Folks, I hope
Speaker 1: you see what's happening here. This is a paradigm shift.
Speaker 1: And James Seifert gave a breakdown of the etheroremytfs and
Speaker 1: the top five are essentially investment advisors, hedge fund manager, brokerage,
Speaker 1: private equity holding company, trust and so forth. So, folks,
Speaker 1: you have some of the biggest institutions buying these ETFs.
Speaker 1: They want exposure, they want crypto, and I hope you
Speaker 1: have the macro outlook and that you bought the bloody
Speaker 1: bear mark, you bought the lows and we're going to
Speaker 1: get ready to take profits at the highs when things
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Speaker 1: California has officially passed the right to Transact Bigcoin unanimously
Speaker 1: out of the Assembly. This is good. It's it's a
Speaker 1: bill that is, you know, helping folks to be able
Speaker 1: to use bigcoin, adopt bitcoin, and much more. Now, it
Speaker 1: still has to make its way, you know, going further
Speaker 1: into government. Right you got the House and it and
Speaker 1: so forth, and then the governor has to sign it
Speaker 1: into law. But some folks initially were like, wait a minute,
Speaker 1: there's some language here that's a red flag, and that
Speaker 1: is the you know, people reporting that bitcoin held on
Speaker 1: exchanges for three plus years will be transferred to the
Speaker 1: state of California under a law pass by the Assembly.
Speaker 1: So right away it's like, whoa, what the hell? This
Speaker 1: is why I'm a big believer in self custody because
Speaker 1: that can happen if you own your own keys, right,
Speaker 1: So it's important that you don't leave all your crypto
Speaker 1: on an exchange, folks. We've said that for a long time,
Speaker 1: but Dennis Porter of the Satociac Fund gave clarity. When
Speaker 1: they take the bitcoin off the exchanges, they're not liquidating it.
Speaker 1: They are going to hold it and you kind of
Speaker 1: like how the unclaimed property laws work, you can go
Speaker 1: claim it. So they're not liquidating it, they're not taking
Speaker 1: it and using it or anything like that. So that's
Speaker 1: good to know. So we got some clarity there that
Speaker 1: it's not what we were thinking, because on its face
Speaker 1: it looked really bad, and I'm glad it's not, you know,
Speaker 1: what we were thinking it was initially, So that's that's
Speaker 1: really good, folks. So I'm glad there was some clarity there.
Speaker 1: And folks, today we had a digital Asset market structure
Speaker 1: hearing in Congress, so the Houses version of the market
Speaker 1: Structure Bill, called the Clarity Act, was discussed. Really great.
Speaker 1: We got to have the dialogue, we got to have
Speaker 1: the discussions, and you had some folks testifying much more
Speaker 1: on Congressman Tom Ehmer came out supporting the Clariac. You
Speaker 1: had French Hill, of course, Brian Style, the folks I've
Speaker 1: had on the podcast talking about this. So we're making progress.
Speaker 1: So that's a very good sign. Now, circles ipo is
Speaker 1: said to be over twenty five times oversubscribe. This is
Speaker 1: incredible and it's kind of what we've been talking about.
Speaker 1: I think we mentioned it yesterday with Ripple CEO said, hey,
Speaker 1: we were not looking to buy Circle, and I think
Speaker 1: there was some fake news put out there right Circle Coinbase.
Speaker 1: These people are trying to come by us and stuff
Speaker 1: to try to get the valuation higher. I spoke about that.
Speaker 1: But what's interesting Chamat Polloptilla, who's a well known investor.
Speaker 1: He's part of the All In podcast team. He said
Speaker 1: the following, it would be genius for Ripple or coinbase
Speaker 1: to buy Circle. It looks like circles ipo is twenty
Speaker 1: five x oversubscribe, valuing the company at around seven billion dollars.
Speaker 1: If someone can buy it for even twelve to thirteen billion,
Speaker 1: that's a steal in my opinion, for what this business
Speaker 1: could be worth in twenty years. I agree with him.
Speaker 1: The stable coin market's going to Boom, and Circle has
Speaker 1: a very big lead in the United States specifically. Now
Speaker 1: globally it's Tether, right, but Circle they got the first
Speaker 1: mover advantage. They have a lot of the infrastructure where
Speaker 1: usdcs on multiple blockchains. They have even exposure in Latin America,
Speaker 1: and much more so, They're further ahead than any other
Speaker 1: competitor in the United States. So he says, Circle has
Speaker 1: built the entire market structure for stable coins well before
Speaker 1: it will formerly exist in the United States. For example,
Speaker 1: ahead of the Genius Bill. My prediction, Stripe, Square, Ripple, Coinbase,
Speaker 1: they're all going to end up competing with each other
Speaker 1: for stable coin dominance, which is really good for end
Speaker 1: businesses and consumers and probably really bad for terminal margins.
Speaker 1: The company that builds the most efficient infrastructure and sells
Speaker 1: it for cheapest costs plus with a thin margin on top,
Speaker 1: will probably take the market, he says. Note that there
Speaker 1: are no official slash confirmed reports of coinbase pursuing an
Speaker 1: acquisition of Circle, but there's a bunch of rumors in
Speaker 1: the rumor mill that they are in acquisition discussion. So
Speaker 1: once again we've just heard a ton of rumors. Honestly,
Speaker 1: I think Coinbase would have the biggest chance of acquiring
Speaker 1: Circle because they've done a massive partnership at Circle in
Speaker 1: integrating USDC, so they already know how the product works.
Speaker 1: They've already got their foot in the door there. But
Speaker 1: you know, you never know whoever comes with the highest bid.
Speaker 1: Ripple CEO of course denying you know the rumors, but
Speaker 1: we'll see how it plays out. And Circle is still
Speaker 1: trying to do their IPO, so well, then acquisition happen
Speaker 1: right before you know they're trying to do an IPO.
Speaker 1: I don't know, We'll have to see how it pans out.
Speaker 1: But I agree with Chamathier, a lot of these folks
Speaker 1: got a lot of work to do to catch up
Speaker 1: to Tether. Tether is just massive, even with the complications
Speaker 1: in the EU market. And I'm going to try to
Speaker 1: get Tether's CEO on again, Paolo Ardino, to talk about
Speaker 1: I'm going to try to get an in person interview
Speaker 1: with him at my studio in New York to talk
Speaker 1: about all these things. And you know, how are they
Speaker 1: going to be able to navigate the waters with the
Speaker 1: stable coin billy here in the United States? So TVD
Speaker 1: on that now, folks, some good news Moonpay was able
Speaker 1: to get a bit license in New York. Now, I
Speaker 1: hate the bit license. I think this is bullshit. They
Speaker 1: should get rid of it. It's a stupid wall they
Speaker 1: put up, and it's I think it was put up
Speaker 1: to slow down crypto companies, honestly by the Wall Street guys.
Speaker 1: But nevertheless, it's great to see crypto companies get these
Speaker 1: these licenses and they have sometimes have to wait years.
Speaker 1: It's so stupid. And that's why some of you ask, hey,
Speaker 1: why can't I access this company or this platform in
Speaker 1: New York. It's because New York has this bullshit license.
Speaker 1: But Moonpay joins a short list of crypto native firms,
Speaker 1: including Coinbase, Anchorage, and Circle that have been approved to
Speaker 1: operate in this state by the New York DFS. So
Speaker 1: great news here, folks. Let me know what you think
Speaker 1: about this news, especially the JP more news. That's huge
Speaker 1: again the world's largest bank adopting. Despite Jamie Diamond telling
Speaker 1: namass Is this is all you know garbage, you shouldn't
Speaker 1: pay attention. Yet JP Morgan is doing all these things, folks.
Speaker 1: A great way you can support me in the podcast
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Speaker 1: out my book on Amazon, it's available in paperback, in digital,
Speaker 1: and my new course at mycryptocourse dot com. This is
Speaker 1: a comprehensive course that teaches you every aspect of crypto folks,
Speaker 1: thank you for watching and listening. I appreciate you all,
Speaker 1: and I'll talk to you all later