The bulls are back in control as bitcoin hits seventy thousand dollars. I want to share the charts with you and what I'm seeing, as well as some very interesting price predictions from the Wall Street crowd and institutions. And Gary Ginser gets asked about losing his job after the election, and I want to share the answer with you. In addition, the crypto industry sends a whole bunch of Amikis briefs
in different crypto cases today. I think they sense Ginster is going to be out, so they are punching back. I'll share the details. Let's get into it. Hey, everybody, welcome into the Thinking Crypto podcast. You're home for cryptocurrency news and interviews. I'm your host, Tony Edward. On your way in. Please let that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple,
please leave a five star reading and review. Folks, we've got to talk about bitcoin. It touched seventy k once again. We're waiting for a full breakout through seventy k to surpass seventy one ks. But as I've been sharing with you guys. We are seeing higher highs and higher lows being set up here on this chart. It's looking bullish. Now, there's no guarantees, there's no certainties. We don't have a crystal ball, black swan events can happen and so forth.
But if everything goes according to plan, this thing could move up this week, breaking through seventy one seventy two K, which will be very bullish. That will be some key resistance levels that it will be breaking through, and then Bitcoin can enter into price discovery and of course the liquidity will start flowing to the all coins. So guys, things are looking really good here. From the dxy standpoint, the dxy overbought, it's about to collapse. This is not
a sustainable zone for it to be in. This will help bitcoin and risk assets to pump. So very very bullish, and as I've been telling you guys, once the elections out of the way, a lot of uncertainty will be removed and it's going to be very good for the markets. We've seen this historically no matter who becomes president. Bitcoin is not correlated to the Republicans that are debamocrats. It's correlated to money printing, to the basement of currency global liquidity.
And we've seen bitcoin pump on their Obama, on their Trump under Biden, and if Trump gets in to office now or Kamala Harris, whoever, it will pump again. So it's not correlated to those things. Now, I do want a caveat by saying that Donald Trump would be better for crypto businesses in the United States because he has a clear agenda. He wants to kick out Gary Genser and so forth. So let's keep it real, right, But from a asset price standpoint, it is it doesn't matter
who becomes president. They both run the money printer. If you understand these things and you're not totally gaslighted by political talking points, and you understand the factors and the fundamentals behind markets, you understand what I'm saying. So we are seeing a very bullish setup here, folks, and I'm very excited to see what happens in the coming weeks. Now, we got some additional details about that university called Emery,
which had bought fifteen million dollars in bitcoin. Eric Belch, who's a senior ETF analyst at Bloomberg, said Emory University reported fifteen point eight million dollars worth of bitcoin, the
first endowment to report a spot Bitcoin ETF position. With that, every institution type is now represented in the Bitcoin ETF thirteen F filings, endowments, banks, hedge funds, insurance companies, advisors, pensions, pe holding co vcs, trust, family offices, brokerages, so they all have exposure to the Bitcoin ETFs, folks, And he said, absolutely insane feet for category that is less than a year old, akin to winning all four tennis Grand Slams
before this sixteenth birthday. Folks. There is incredible demand for bitcoin. And wait till we have more ETFs around all coins and the market is educated about those all coins and what they do and so forth right, I think we have to give that some time. You see the ether METF, while it has been a success, it's not as successful as Bitcoin because Bitcoin has the brand, it's well known, and it has a very strong use case of being
a hedge against the the basement of currency. Now, he says, here the BTC and this is the ticker symbol for greyscale quietly moving up in the charts now in the sixth place and nipping at bitb's heels. That's a black Rocks Bitcoin ETF all told Grayscale now has a positive netflows in the past few months as a company in this category. There's a long history of ETFs of this low cost mini me move working, and it worked again. So we are seeing a lot of buying, a lot
of liquidity and the charts aligning. And I think the folks on Wall Street recognized this. And here Van X Matthew Siegel, who had on the podcast earlier this year. He went on CNBC and made a statement about his price prediction for bitcoin at three million dollars by twenty fifty. Let me play a clip for you.
We have a model that assumes that by twenty fifty, this is very long term, that bitcoin becomes a reserve asset that's used in global trade and held by global central banks at a very modest two percent weight, and in that model, we arrive at a three million dollar price target for bitcoin. Now that sounds, you know, extreme, but that's a sixteen percent compound annual growth rate for a couple of decades. You know, that's not really that extreme.
So into the millions over the medium term is a high conviction call.
Okay, So he's basing his thesis that bitcoin will become a global reserve asset by twenty fifty. Now, if it does indeed become that, definitely three million is not off the table when you think about the supply demand economics, the hardcap in the supply, and bitcoin becoming this acid
that's being held by central banks and so forth. I think this is a very good prediction, and the timeline is realistic versus him saying, you know, next two years three million dollars, that would be ridiculous, right, So I think this is this definitely makes sense. This is why there's some bitcoin I'm holding. I'm never selling, I'm just keeping it now. The majority of it I will be using the cycles take profits, right, I've told you guys
my strategy. Take some of that money and reinvested in bitcoin and all coins in the bloody bear market when everybody's scared again, and then taking some of that money you pay off debt and then other profits now and to pay off debt and then spend some of it. Of course, you know some lifestyle chips. So very interesting price prediction here from Matthew and here Howard Lutnick, CEO of Cantor Fitzgerald, which is a major Wall Street firm.
Howard is of course part of Donald Trump's transition team, and he was at the Bitcoin conference. He's bullish and let me play the clip for you what he had to say. He was interviewed on the Anthony Pompleano podcast.
Have hundreds of millions of dollars okay, okay, hundreds and hundreds of millions of dollars exposure to bitcoin and it will be billions.
So big statements coming from a billionaire and head of a major Wall Street firm saying he owns hundreds and hundreds of millions of dollars in coin and it will eventually grow to billions. Now, the other thing you may have heard Howard say is about Tether that they have the reserves. He said this at Davos at the beginning of twenty twenty four, and he said that a cancer has done the auditing of the reserves of Tether. So you're seeing some of the biggest players in the world
on Wall Street and so forth just getting involved in crypto. Guys. It's pretty amazing. Now a great place where you can buy bitcoin and all the top all coins is on Uphold. This is a platform I've used since twenty eighteen. They have three hundred plus cryptocurrencies on the platform. It's a pretty unique platform where you can go between gold and crypto and fiat and so forth. It's pretty amazing and they have a great app, a great platform that makes
it easy to do all those things. And another great part of using Uphold is that they are one hundred percent reserve, so they don't commingle or lend out your crypto funds, and they have a transparency report that you can review. They also have a great product called the US the Interest Accounts where you can park your dry powder or your crypto profits and earned four point nine percent apy and there's no lockups, there's no monthly fees,
and it's FDIC insured. So if you'd like to learn more about Uphold, visit the link in the description now. Scumbag regulator Gary Genser was interviewed at Money twenty twenty and the question was asked will he be replaced or is he afraid he might be replaced after the election next week? He said, I sleep fine at night. Gary's out. He is out, and I think even if Kamala Harris wins, their team has said they're gonna kick him out because look already the Democrats in the House and the Senate
have turned on him and Elizabeth Warren. So the jig is up, right, him and Elizabeth Warren are on an island by himself. So this guy can't be gone soon enough. But the thing is, you know what's going to happen, right, He's the Wall Street rat that's running through these government agencies. Remember he was at the CFTC back in like two thousand and eight, ten, nine, ten, and so forth, and he was called out for you know, crap that he
did then, and then later on he got the SEC job. Right, So watch that he watched, Watch him disappear for a couple of years, and then all of a sudden he gets a nice maybe the Treasury jobs that he covets so much. He wants to take Yellen's place, right, But this guy's pathetic, man. I hope he doesn't get another government job. He's a scumback for sure. Now the crypto industry, all of a sudden, today, guys, we've got a bunch of Amikus briefs being filed in some of these different
crypto lawsuits against the SEC. I think these crypto companies sense the weakness they see the political change that's coming up, and it's a smart move to do this now. So the Crypto Council for Innovation and the Blockchain Association are stepping up to support BIBA and the DeFi Fund challenging the SEC. So this has to do with ear drops, right, the SEC trying to say that air crypto air drops, if you got him for free, are securities. That's nonsense.
They said, Today we file a joint Amikis brief to argue that air drop tokens are not investment contracts and don't qualify as security offerings. And they're not the only ones because Coinbase also jumped in with it, saying today Coinbase file and a meek Us brief on behalf of the Beta Collection and the DeFi Education Fund to stop the destructive regulation by enforcement campaign waged by the SEC
against law binding American companies. Most destructive of all is that the SEC itself can't even make up their mind about they claim the law what they claim the law is. So I don't Once again, I don't think this is by coincidence. The timing I think is smart on their part. Now, final news item here and not so good a news item it's about Solana's phantom wallet. So Solana's phantom wallet faces downtime causing inaccurate account balances for users during anticipated
grass air drop. So that's not good. We can't have these things if we want the next billion users coming in. So Solana has had a lot of issues, a lot of downtime. Now, to be fair, they haven't the blockchain itself has not had any downtime in the recent months. Well I should say, I shouldn't say recent months. I think in maybe about eight to ten months, which is a good thing, right, But the fact that your biggest wallet, Phantom,
is experiencing downtime, that's not good. So hopefully they're able to resolve these things. But they said the issues were quickly resolve, but still not good, you know. And don't get me wrong, things can happen from time to time, but there just seems to be a lot of downtime that follows Solana. And while it has incredible speed, you know, are they sacrificing performance and latency because they're trying to be super fast? Right again, you got to find a balance.
So I don't know how many of you use the phantom wallet. I've used it, in the past. I don't use it on a day to day basis, so I didn't even know this happened until I read the news. So let me know if you guys, you know, experience the downtime. But this is not good for sure. And look, I know that there has to be further iteration and development from these different blockchain companies and so forth, so
we'll get there. But Solana just seems to have a lot of these And I interviewed somebody from the Salana Foundation recently and we talked about this. So look, as long as it's maybe not a detrimental downtime if it went down for like five minutes, okay, but if it's down for hours and days or whatever, that's come on, right, we can't have that anyway. Guys, let me know what
you think. Leave your thoughts and comments below, hit the thumbs up button, and please support me by subscribing to my free email newsletter on substack one hundred percent free link wi being a description, and also grab a copy of my book, Rethinking Crypto. It's available on Amazon and Paperbacking Digital. If you bought a copy ready, please leave a rating and review. It will really help me out thank you so much. I appreciate you all, and I'll talk to you all later. The T Take eight to T