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 thumbs up button and leave a comment below. If you're listening to 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. But folks, we got big news today. But let's start off with the price of bitcoin
really quick. Earlier today in the live stream, we talked about bitcoin cooling down. Right now, it's sitting at seventy one, seven hundred and thirteen bucks at the time of recording. But if we look at the daily chart here, we're seeing a bit of a pullback and that's healthy. That's normal after a strong breakout above the old all time high. The key indicator we have to look at, though, is the Dollar Currency Index, which is
finding some support and bouncing right now. Now. It could bounce a little bit but then continue to break downwards, which I anticipate it will, but who knows. Right we have to watch as closely, so Bitcoin and some many all coins can possibly consolidate and move sideways for a while, so just be prepared for that maybe over the next two weeks, right, But we'll have to wait and see as the charts get updated. But the dxy is
finding support here. This is why you're going to see bitcoin and other risk assets slow down a bit. But the bull market's not over just we are going through market cycles from a micro standpoint. From a macro we are still on track to go to new all time highs. But some of the all coins are popping off. Salana is ripping right now, folks. It's at one hundred and eighty five dollars, up near twelve percent over the past twenty
four hours. Now, let's look at the top trending coins on social media, brought to you by Sentiment, which is a great partner of the channel. This data was updated forty eight minutes ago, and of course Solana leading here because the price has been going parabolic. It has huge positive sentiment e theorem and number two still seeing a lot of social mentions from its upgrade, the den Kin upgrade Dog with Hat. These meme coins are going nuts.
Look at this. Doge coin comes into number four behind Dog with Hat, So the meme coins are going crazy. Earlier today in the livestream. We talked about Elon Musk talking about Tesla is going to accept those coin pretty soon BSV. That is trending because Craig Wright got slapped in the face by the judge. He's got another huge loss saying he's not Satoshi, he's not the author of the white paper, and much more. You got hack protocol.
Haven't heard about this? This comes in at number six, Bitcoin at number seven fracts it says fras on ethereum, I haven't heard of this token. That's number eight. And then you have the open platform at number nine and the near protocol at number ten. So those are your top trending tokens on social media, and some of these make a lot of sense, right because
price action and big news items now, folks, huge huge news. You know, we've been talking a lot about crypto and the elections, and we saw on Super Tuesday that many of the candidates who align themselves to Elizabeth Warren
and the anti crypto banner loss, but pro crypto candidates are winning. We've talked about crypto being a ballid issue, not the number one, not the number two, not the number three, but sometimes the number four or five, Right, But many crypto holders are single issue voters, and folks, we've also been talking about former President Donald Trump, who's obviously the Republican candidate for this upcoming presidential election. He has been softening his tone around bitcoin and
crypto. He's issued NFTs bitcoin ordinals, they've been accepting bitcoin and crypto for payments for his sneakers and much more. Right, And once again, I'm not trying to endorse those things. I'm just telling you the facts. But here's some data, and it's actually been reported by Justin Slaughter, who's head or policy director of Paradigm, And here is the data. Very interesting, folks. Let me give you the details now for something surprising. Crypto voters
leaned to Biden in twenty twenty, but now lean to Trump. Among crypto voters, forty three percent recall voting for Biden in twenty twenty and thirty nine percent recall voting for Trump. Now crypto owners support Trump forty eight to thirty nine. In a close election, This swing could be decisive, folks.
Very interesting dynamic playing out here. Crypto is a ballot issue. We are already seeing it on smaller levels, and already the polls are showing from a crypto standpoint, people believe Donald Trump would be a better candidate for crypto. Wow. Let that sink in. And once again, this is not a political podcast. I'm not telling you who to vote for. I'm just giving
you the facts and the data and you make your decisions from there. But there are certain things we can deny and we have to look at what the potential outcomes may be. So in a race that may be tight again like it was in twenty twenty, we could see crypto being a big deciding factor. And the question is will Biden. Will Biden pivot? And I'm not saying I believe he will or I want him to. I'm just saying, giving the scenario, maybe he pivots because he sees Elizabeth Warren's agenda is failing
and the anti crypto people are losing. So we shall see. He could pull something out of his hat and do something with Congress or some executive order. I don't know, but what we'll have to wait and see. But this is very interesting. Now, huge huge news today folks, and Nate's Garachi, president of the ETF Store, reported on this. But here's the headline. SATA introduces bitcoin ETF policy and guidance for financial professionals. You may
say, who the hell is Satera. SATA is among the first wealth management firms to deliver comprehensive education, training, and resources addressing rapidly growing investment products. What have I been telling you guys for months? Now? We are in the early innings. These ETF issuers are actually going out to the wealth managers and rias and educating them. Hey, guys, here's the bigcoin ETF. Here's how it works. Here's our fees to get them to be comfortable.
So there's a ton of capital that is not being allocated yet. There's a ton of investment advisors who have not told their clients, hey, let's put some exposure or give you some exposure to bigcoin ETFs. They haven't done yet yet. The education and awareness building process is happening right now. So here's what Nagarachi highlighted. Here's a quote. As expected, we are prudently
embracing bitcoin ETFs. That's a quote, Nate says. Financial advisory firms now issuing press releases regarding the use of bigcoin ETFs, in other words, attempting to use bigcoin ETFs as a point of differentiation slash competitive advantage. Things getting wild, He says. Setera has four hundred and seventy five million dollars of assets under management. So incredible, incredible things happening, folks. Once again, it's the early innings. There's still a ton more folks coming in.
And if anybody from Vanguard is listening, this is your wake up call. You will get left behind this This thing is taking off now now. Earlier today on the live stream, I shared this chart, but I think it's helpful to highlight it again. Micro Strategy is Bitcoin holdings versus black Rock. For those of you listening on the audio, you won't understand what I'm saying,
but micro Strategy gradually bought bigcoin over the years. You look at the chart, Blackrock is literally a straight line up because literally open the past two is it just over a month and a half now, they've been accumulating and they're about to surpass or they have surpassed micro Strategy. It's incredible. And this doesn't even include the other nine ETLs out there in the market. It's
fascinating. What's happening now, folks. Quick word from our spot consor, and that is v Chain vchain is one of the top enterprise layer one blockchains out there. They are building tons of web three and decentralized apps that solve real world problems. They're working with many big brands such as BMW, Walmart, China, PwC, and so forth. I'm a VET token holder. I believe in this project. I have been for years. That's why I
asked them to be a sponsor. And their blockchain, folks, uses very low energy, it's scalable, it has great security, great speed, and they're also working with the Boston Consulting Group. So huge things happening with vchain. I highly recommend you go check this out and look up what they're doing. It's incredible. Go to vchain dot org. Link will be in the description. Now, folks, not everyone is happy with the bitcoin et apps. We got a couple of senators here writing the sec saying stop the et
aps. So Alexander Grieve, who is government affairs at Paradigm, tweeted out the success of the BITCOINSTF products clearly ruffling some feathers on the hill. Senator Jack Reid and Senator Lafonza Butler, if I'm saying her name right, wrote a letter to the SEC urging no more ETPs exchange traded products for other tokens. They're trying to stop it. They're saying, don't go beyond bitcoin,
No ethereum, no XRP, no cardano. They said, make life difficult, for example, examinations slash reviews for brokers and advisors that recommend bitcoin ETPs. Now, bunch of senators, right, who do you think is behind us? Folks? Who do you think is behind us? Elizabeth Warren and who's behind her? Jamie Diamond and the banks? We think these banks like the money leaving their investments and going into the ETFs. They hate it because
right now they can't even custody the ETFs. Right That's why they wrote a letter to the SEC about SAB one two one their block right now. They hate this, folks. That's why you have all these tratified guys. Even Warren Buffett and Charlie Munger rest in peace. I respect Charlie Munger and Warren Buffett very much. I've learned a lot from them. But they hate that there's a disruption and the capital is leaving their trad fi investments, equities and
so forth, and it's going to ETFs. They see the flows. You think these senators just dreamed this up by themselves, that they woke up and said, man, I hate them becoin ets. I hate that they better not have an et theory metf Hell no, right, this is someone paying them. You know, you guys know how the game works. Right, They're getting lobbied, and Elizabeth Warren probably send them met with them in the back room, along with Gary Genser and so forth, the anti crypto army.
Right, eleanor Terott of Fox Business gave some more contact. So Jack Reid is out of Rhode Island, and Lafonza Butler she is out of California. So they pend the letter to Gary Genzer. Here here's a quote from that. It says, while the bitcoin market has displayed serious weaknesses, it is nonetheless far more established and scrutinized than the market for the other cryptocurrency. However, vulnerable Bitcoin maybe to fraud and manipulation, markets for other cryptocurrencies are
far more exposed to misconduct. We do not believe that other cryptocurrencies show the trading volumes or integrity to support associated ETPs. It's funny how they don't send out stuff like this for like the banks that were collapsing last year, and just recently we saw NYCB that' stop plummeted off a cliff. They had to hault trading, and then they had to get a billion dollar lifeline. Right, there's no letters being sent, there's nothing being said about that. But
obviously there is an agenda here. Right, they're trying to paint crypto in a negative light, trying to stop the ets, and this is all coming from the banking incumbents. Now. Paul Griwall of coinbase weighed in on this. He said, respectfully, Senators, the evidence points exactly the opposite way. We have discussed our analysis with the SEC staff and would be happy to
do the same for you and any other policymakers who have questions. Many digital asset commodities, not just bitcoin, demonstrate market quality metrics that exceed even the largest traded equities. For example, each spot market is deep in liquid. Only two S and P stocks have a higher notional dollar trading volume. So he goes on, you know, explaining this, But folks, these two senators then just wake up and dream this up right and say, oh,
we need to stop. It's Elizabeth Warren, it's the banks again, they are afraid more crypto ETFs get it created, more capital leaves their tradify investments. Right, these investment banks, Goldman Sachs guys, think about this, they had the stranglehold. You have to come through them, right, their products. What they're doing this is very much so outside of their system. Don't get me wrong. It's getting integrated into the system because Black Rock and
Wall Street. But the point is the network, the control of the assets is distributed globally. Bitcoin and cryptos a global asset class versus you know, certain people in certain countries can access certain equities and so forth. Right, but you can mean any country, as I've given an analogy to story many times, any country in the world. You have an Internet connection, you can buy a fraction of a bitcoin, and that gives you know, kind
of an exponential aspect to the price and the appreciation of the price. So guys, they don't like this, they don't like this. They're probably having boardroom meetings and so forth. How do we combat this? Who do we buy off, who do we lobby? How can we stop this? Can we launch our own thing? Right? Those are definitely meetings that are happening folks at the end of the day. Now, James Seifert of Bloomberg weighed
in on this. He says, as someone who spent significant time trying to obtain the data required to do this type of analysis on a minute by minute basis, it wasn't easy. And I work at Bloomberg. There's almost zero chance these senators did the analysis themselves. Someone sent it to them. But who, James, I know the answer. It's Elizabeth Warren and the banking cabal. That's who. That's who it is. And he says, have
to assume the SEC. Like Eric hints here, Eric balchunis you know highlighting here that TRADIFI and the SEC and these guys send this stuff to the senators. It's all behind the back room deals, the alleyway meet and the alleyway type things going on here. Once again, these two senators didn't randomly wake up and say, oh, we need to stop all these ets, right. I think we know the game, folks, and this is why we got to expose it. Now, a final item here, President Naibu Kelly
of L Salvador, we know they hold a ton of bitcoin. He's been trolling all the critics lately because holdings are up significantly, but during the bear market, all the floodsters came out. Well, he said, We've decided to transfer a big chunk of our bitcoin to cold two way cold wallet and store that cold wallet in a physical vault within our national territory. You can call it our first bitcoin piggy bank. It's not much, but it's honest
work. Wow. But the total bitcoin is five six and eighty nine bitcoin's that's pretty incredible. I wish I had that much bitcoin. But guys, they're setting the standard, they're setting the blueprint here for many smaller countries to do this. Once again, we're not talking about the US and first world countries and the superpowers, right, We're talking about smaller countries who are fighting inflation, who need to boost their gdp AD much more so, I think
many other smaller countries are going to follow Elsalvador's move. It's incredible. What's happening, all right, folks. Don't forget to check out our other sponsor, and that is uphold Rake Crypto exchange, where you can buy bitcoin and all the top all coins. You can also trade precious metals such as gold, silver, padium, platinum. They are fully reserved I've been using them
since twenty eighteen. They have transparency reports and so forth, So if you'd like to learn more about Uphold, check out the link in the description. A great platform I would recommend, and folks don't forget to sign up for my free email newsletter and follow me in all social platforms. Thank you for watching and listening, and I'll talk to you all later