Bitcoin is pumping to the moon. It is currently over fifty five thousand, six hundred dollars. Could it hit fifty six thousand dollars tonight as we got news that the nine bitcoin ETFs have broken the all time volume record today. This includes black Rock and all the other big players. This is very interesting and Michael Sailor's micro Strategy has bought another three thousand bitcoin for approximately one hundred and fifty five million dollars. And as Bitcoin keeps moving, we know that
liquidity will flow to all coins. Let's break this down. Welcome to the Thinking Crypto podcast. You're home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as a thumbsup button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, we got to
talk about bitcoin. It is ripping right now, folks. It is at fifty five thousand, seven hundred and twenty six dollars and climbing up over eight percent from a twenty four hour perspective, and the alts are moving to Etheroreum
is looking strong. It is at three thousand, two hundred and twenty dollars, BnB at four hundred dollars, Solana at one hundred and ten dollars, XRP over fifty five cents, Cardano over sixty two cents, Avalanche or avax close to forty dollars in dosee Coin in the top ten now at just over eight cents. So, folks, even if you don't hold bitcoin, you
just hold all coins. You want Bitcoin to go as high as possible because the liquidity what we've seen, the market cycles, the liquidity flows some bitcoin down to the alts, and the more liquidity there is in the market, the more the alts will pop off. So I'm excited not so much for Bitcoin because I did take some profits some Bitcoin. I'm excited for the all
coins. And as you may have seen in my recent crypto Watercool episode, I talked about taking profits on fetch dot ai and render those ai coins that have been ripping, and I was up so much that I was like, I got to take money off the table. So exciting times, folks. Now, let's talk about what I've been saying about bitcoin over the past month. Or two. I've been saying I expect bitcoin to correct and go down to thirty five thousand to build support levels, then bounce and keep working its
way up to new all time highs this year. But Bitcoin is ahead of schedule. It's going crazy. It's bypassing all of those thesis and ideas. It's very fascinating, folks. And we're not far from sixty nine thousand dollars, which is the current all time high, and that could easily be broken by the having Now is that a guarantee? Is that a certainty? Of course not. Bitcoin could hit the sixty k and then boom rejection, go back down, right, But that's okay. We need healthy corrections in the
market because we're building support levels, higher highs and higher lows. So please understand me. If you've been here for multiple bullmarket cycles, you'll know what I'm talking about. You need the these support levels to go to the next level. And we, of course don't just want fifty k and sixty k, we want one hundred thousand dollars plus. So it's not gonna straight line go up to one hundred thousand dollars. That is not possible. That is
not how markets work, but Bitcoin is doing something very different. And here Bob Lucas, who's a great analyst. He has a YouTube channel. He set the following. He tweeted out the Bitcoin monthly chart. A normal bitcoin cycle would have pulled back by now and consolidated another six months, well under the all time highs. Right now or right here, Bitcoin is fast approaching
escape velocity. So something interesting is at play here, and part of that could be the ets I think, well, I should say part of it is the ETFs. And here Eric Balconis, who I will be interviewing this week. He's a senior ETF analyst at Bloomberg. He's tweeted out today it's official. The new nine bitcoin ETFs have broken all time volume record today with two point four billion dollars, just barely beating day one, but about to
double their recent daily average. IBIT, which is black Rocks, went wild, accounting for one point three billion dollars of it, breaking its record by thirty percent. So, folks, we are seeing records being broken here, just weeks in obviously from the launch. It's exciting, it's amazing, and of course I'm going to talk to Eric about this now. Even if you don't hold bitcoin, but I always recommend folks that you diversify. You're just
holding all coins. This is exciting times for you because once bitcoin hits its next overbought scenario, liquidity flows to those aults. Folks. As I'm talking to you right now, bitcoin is at fifty nine and twenty six dollars, so we're about to hit fifty six thousand. Exciting times. I'm so excited about this. And here let me continue. Matt Hogan, who have had
on the podcast. He's at bitwise. He said, we bought thirty seven point two million dollars in bigcoin coin for a BitB that's their Bitcoin ETF today and we're only one of the ETFs. Things are going to get interesting, folks, Exciting times. James Seyferd also highlighted that the GPTC selling had a record low outflow today, only twenty two point four million dollars. So that's been ramping down, which is what I shared in yesterday's podcast, very bullish,
and the buying has been increasing from the nine etf issuers. Now. The other factor, which I also shared in yesterday's podcast, the dxy to dollar currency in x is correcting. That's a very good sign, So we wanted to go way down and look that could correlate with by the having that if the trajectory is right, that could go down to about the middle of April, which would be around the having the DXY bounces and then Bitcoin and
the stock market and so forth starts to correct. So we are seeing an interesting alignment and a lot of hype going up to this big coin having. And once again, even if you don't hold bitcoin, oh, bitcoin over fifty six thousand, Oh my god, it's pumping like crazy right now, fifty six thousand, five hundred and forty three dollars. It's exciting to watch his play out. As you know, I'm recording this exciting exciting times now. Michael Sailor is like a drug addict for bitcoin, right Bitcoin is his
drug. This man has been buying. This man is buying bitcoin at fifty one thousand dollars, he tweeted out. Micro Strategy has acquired an additional three thousand bitcoin for one hundred and fifty five million dollars at an average price of fifty one thousand, eight hundred and thirteen dollars per bitcoin. As of February twenty fifth, they now hold one hundred and ninety three thousand bitcoin. Holy crap, and look black Rock and Wall Street and all the other issuers are.
I think they're going to surpass that number. So it's a race, folks. It's exciting. Now. A great place that you can buy bitcoin and all the top all coins is Uphold. It's a platform I've been using since twenty eighteen, so I can vouch for it. I've interviewed the CEO many times, every interviewed the CFO and many representatives. Folks. You can also trade precious metals such as gold, silver, palladium, platinum. They have stable coins, they have a lot of fiat currencies. They're available in
over one hundred and fifty countries. They have a great app, it's easy to use. Best of all, they are fully reserved. They have transparency reports that you can go review and be confident that your funds are saved. They don't com mingle or lend out your funds. But as always, you know, if you buy crypto on an exchange, I highly recommend you self custody or you go to a qualified custodian such as bitgo, so you know, always don't leave all your crypto in exchange. I'm not saying you can
leave some but don't leave all right. There's always a risk. And we're actually going to talk about some news later. But like I said, I trust Uphold. They have reserves, they have transparency reports. If you'd like to learn more about Uphold, check out the link in the description. Now, how many of you remember Peter Teel, Yes, one of the co founders of pay Pal, and of course has been a successful investor. He's a billionaire. Of course, he was an early investor in Facebook, and
he has been invested in bitcoin and a lot of crypto projects. Well, Peter Teal's founder's fund co leads twenty seven million dollars seed round for modular blockchain project a veil. This is the first time I'm hearing about this project, so I want to share this news with you. I'm going to research this and see if it's a project, a coin that I want to put my money in, because if Peter Teal's behind it, you know it's something to
pay attention to. I'm not saying you should blindly go invest in it. Yeah, I'm going to do my research. See what problem they're solving, the tokenomics and all that jazz. But this is very very interesting. So a Veil has raised twenty seven million dollars in seed funding, co led by Founder's Fund and Dragonfly. A Veil is a modular blockchain project that's spun out of Polygon last year, so Polygon has the native token matic on it,
so this is really really great. A Veil commenced operations within Polygon in late twenty two twenty and was funded from Polygon's treasury until March twenty twenty three, when it became an independent entity separate from Polygon. As it approaches its mainlet launch, Veil has raised external funding, so it's gonna go to MAInet and I'm gonna check out this token once again, guys and see that there might be something good here and we'll see what they're trying to solve. So put
this on your radar. It's all I'm saying. Do your research, right, spend some hours looking into this if you are able. To. Now, crypto exchange bitfor X halts withdraw stops responding to users. This is a Hong Kong based crypto exchange and this is not a good sign. So they've
halted with drawls or at least for at least three days without warning. And this is why we need regulations, right, folks, we need to make sure these exchanges even if they're going bankrupt because we know businesses go go out of business, right, have issues, that's fine, but our users funds safe. That's the important part that even if you go out of business, the funds are custody where they are not affected by the bankruptcy and users can
get their funds back. So I'm hoping, you know, some folks are able to get this done and hopefully everything's okay here because I think we have to grow as an industry and get past this nonsense. This is why I chose Uphold as a partner as a sponsor, because I've used the platform. They have proof of reserves. So it's important, folks to make sure you
verify you know, these platforms that you use. I don't know if anyone from Hong Kong is watching or listening to this, but if you are in your user you know, let me know, leave in the comments section or email me what's happening here. And funny enough, there's an article here that the deadline looms per Hong Kong crypto exchanges to apply for licensing, so maybe that's what's happening here. Right. The licenses have to be put into place,
the audits and so forth. We don't want another FTX or Celsius, right, and this is why I mentioned earlier. Self custody is the way to go, or use a qualified custodian like bid go, which has insurance which you know their funds are secure and if they anything happens to them, the funds are locked up where you know they're not affected. So you know
it's important to research these things. Crypto exchanges in Hong Kong have until February twenty nine to apply for a Virtual Act Trading Platform license issued by the Cities Securities and Features Commission, or otherwise liquidate their business and exit the region within three months WOW. As of February twenty six, eighteen cryptocurrency exchanges have applied for registration with the SFC, including okxbybit, Crypto dot Com and Binance linked
HKVAX. Four other applications have been withdrawn since the licensing regime opened in August twenty twenty three. WOBHK, the Hong Kong subsidiary of crypto exchange WOBI now HTx filed a VATP application on February twenty, but we drew it three days later. The exchange did not state why it would through the application. So look this, this is why once again regulation licensing is so important to weed out the actors who are not able to maintain a safe environment for users to
come and trade in custody. Right, And I know okax very well. They're one of the top exchanges in the Asian market. So this is we're headed in the right direction, right, So let's see how this plays out. But folks, don't miss the underlying theme here. Hong Kong is not banning crypto. They're not banning exchanges or crypto trading. In fact, they've opened it up to retail. They're offering financing licenses, regulations, and who controls Hong Kong China? Folks, I can't wait. I can't wait for
this bull market to continue. And I believe a bitcoin ETF will be coming out of Hong Kong this year. Get ready. Now, the Texas Blockchain Council says it has a strong legal case in mining survey suit. So we had talked about this in the previous podcast where you got the EIA if I'm not mistaken trying to drop a whole bunch of data and survey results they need
from bitcoin minors, and it's not within the legal time limits. So the Texas Blockchain of Council and Riot Platforms, alongside with the New Civil Liberties Alliance foally suit last week against the Department of Energy. So this is great. And I'm actually going to be talking to Lee this week of the Texas Blockchain Council. He is the president and we're going to talk about this situation,
So stay tuned for that, folks. A great partner of the podcast is v chain, which is one of the top Layer one enterprise grade blockchains out
there. They're working with big brands like Walmart, China, BMW, Deloitte, Javon Chi, and they are sustainable, They're doing great Web three projects, and you know, as far as capabilities, they are very scalable, they have great speed and security, and from an energy consumption standpoint, they're very low compared to other blockchain So there's so much capabilities around v chain And
I'm a VET token holder. I've been holding it since twenty eighteen because I absolutely believe in this project and this is why I chose them to be a sponsor. So if you'd like to learn more about v chain, check out vchain dot org. Link will be in the description as well. Now, folks, I don't know if you all saw my newsletter today. The title was bitcoin all time high blowoff top in twenty twenty four. Question. I
did a great breakdown here. Please check it out. Let me know what you think it has to do with the macro and the FED and why there is a thesis and a possible scenario here of Bitcoin hitting that new all time high blowoff top in December or November, in December of this year, and I break it down in the newsletter. Why I think that with facts and what's happening once again in the macro. So check it out. My newsletter is one hundred percent for you. You don't have to pay anything to subscribe
and it will come to your inbox your email inbox. Folks. Also, please follow me on TikTok, Instagram, LinkedIn Facebook, Twitter Ax links will be in a description. Folks. I appreciate you all, thank you for watching and listening, and I'll talk to you all later