The Dollar is Dying Buy Bitcoin | SEC vs Binance
welcome back to crypto. So today I got something
staggering to show you guys and basically represents the dollar and the dollar
dying that's why we need Bitcoin in our lives so let me show you what I got to
show you and also there's some news about the SEC again versus binance so let's
talk about that as well and let's get started welcome this morning we were above
27 to 27 through came back down a little bit but overall we're still playing on
some green a little bit of green and that's quite okay while ton coin is in the
top 10 now still going crazily but today Solana also had a pretty good day you have XRP above 50 cents
once again cardano up a little bit and bitcoin's still up a little bit butI do
think this SEC verse binance court case uh damper the mood a little bit okay
and what's that about well we know that right now the SEC is suing a whole bunch
of peoplebinance.us and binance itself I don't know they're two kind of separate
entities but sec's arguing they're one basically there is a new hearing okay
and not not just about the the original loss so this is about how SEC feels
like Finance at us ispurposely dragging its feet and they're trying to compel
the courts to compel binance that U.S to in giving I guess documents or
requested documents faster because they believe that binance at usis just
dragging their feed and purposely not complying now binance on the other hand
is saying well that's not true at all it's just because the SEC is being
unreasonable and asking for a way too much okay so that's what it comes down to
he said versus she said in this case he said versus he said and the judge is
going to basically look at the facts and determine who's right who's wrong but
basically this judge is telling both binance and sec to simmer down she will get
to the bottom of heshe or he I don't know the the judge but basically that's
what's happening right now both sides are pointing fingers at each other right
I would not be surprised if the truth is somewhere in the middle or maybe just
because Gary is just asking too much this is Gary's Playbook it's basically ask
for so much you bankrupt the other side that's what Gary has done as CC has done
a lot with a lot of projects right but will that work for binance I don't know well
one thing is for certain finance. usis not looking so good we have heard of a
lot of leadership leave but also look at the trading volume is down 99over the
last six months mostly because a lot of their banking Partners have left people
don't like the fact that you can't cash out with binance to us there are crypto
only exchange and also because the SEC sued people are worried about that as
well so they have tankedin volume right now but we'll see we'll see if they can
pull through it's looking like it may be difficult for them to pull through it
which is unfortunate because binance at us when it first came out it was very I
hate to say it was basically like garbage there was just nothing on there but
over time it grew into a Powerhouse and there's there's a lot of coins that you
can trade right but unfortunately people have left because at SCC and
everything else so we'll see if they can pull through so that's what I want to
lead with that unfortunately I think dampened the mood a little bit today
because people again are afraid right but the thing is people should not be
afraid this is not the time to be fearful in fact this is time to be greedy for
Bitcoin Michael sale is very proud to retweet how three years ago three years ago
he purchased Bitcoin right around 11000 dollars that's awesome that's awesome I
forgot how much you purchased but he purchased a lot a lot of big ones right
and that was kind of like the first time when we've heard of I don't know some CEO
of some company basically just buy hundreds of millions of Bitcoin kind of first
time in history right so he kind of started something and I showed this yesterday
on my show again but basically you know he's been right Bitcoin has been moving
145 percent annualized basically year after year after year you are picking out
the winning you're picking a winning asset by sticking with Bitcoin right even
thoughsome people argue well Michael still are still down on investment but
versus anything else that he could have purchased like gold or even apple or Microsoft
or bonds anything versus anything else you would have been down substantially
more so Bitcoin strategy actually is the right one no matter what okay and
there is also something else that's really staggering really really staggering
that I gotta show you I mean I just saw this I talk a lot about macro stuff
right mackerel stuff is important because it's important to understand what
Bitcoin is about right and the reason why Bitcoin was created was due to the
2008 financial disaster and made people realize that you can't trust the banks
or governments okay so that is what spurred you know out of thin air basically
Bitcoin right you have these people satoshi whoever he or they may have been
right they're like enough is enough we're gonna program Bitcoin right so this
is staggering I didn't even know this but in the U.S you know not too long ago
we had this debt ceiling crisis basically we reached a point where we couldn't
we couldn't we couldn't operate anymore the U.S government and bond payments
and interest payments and Medicare and Social Security everything that the government
was supposed to pay they couldn't because we reached this debt ceiling so that
means there's no more debt can't print any more money can't borrow any more
money that was a major thing but of course Congress you know they voted last
minute and basically removed the debt ceiling and basically there's no debt
ceiling until January 2025 because they say we'll worry about it later okay and
it has been extremely dangerous since then I didn't know this but since that
period and that was I don't know several months ago it wasn't that long ago it
was sometime this year but since then the U.S have been accumulating one
trillion dollars of debt per month it used to be like a couple trillion per year
and that was outrageous now the U.S is on Pace a trillion dollars of debt per
month that's like 12 trillion per year where's this money coming from well the
money printer right where else is it coming from it's the money printer right
that is staggering I had no clue it's gone this bad interest payment on debt is
going to be so astronomically High it will be higher than any other bill that
the U.S government faces even more than an annual military budget military budget
is like 900 billion a year we are going to have one trillion in just interest
payments alone on the debt that is staggering and you can't tell me that this
is normal or is it healthy and that or that this is sustainable the dollar is
being printed at an astronomical rate right now which is why the dollar is dying
right in front of our eyes that's why we need something better that's why we
need Bitcoin that's why Bitcoin is created and or what's happening right now is
so much worse than 2008 way worse than 2008 okay wow it's just crazy I still remember 2008 we had the worst bail out ever of 790 billion you know going towards the
banks otherwise every Bank on Earth would have been destroyed now we are
bailing ourselves out in the tune of one trillion dollars per month that's just
crazy that is just that's just crazy I don't know how else to put it anyways
that's why long-term holders of Bitcoin continues to go upwards and we're back
to 76 percent okay that is a large amount and we will keep going and going
as more people want to opt out of this wants to opt in Building Wealth right
that's why people turn to bitcoin and more and more people are doing so because
this is just silly at this point but yeah outside of that ofcourse there are a
lot of major interests in Bitcoin and not just Bitcoin and crypto overall van
Ike Vanek is very bullish on institutional Investments waiting for spot Bitcoin
ETF approval you know who else is waiting BlackRock of course causes whole commotion
because they want to get involved too but I bet they've been secretly getting
buying Bitcoin for along time but literally think it's like so bullish now
tokens are our next generation for markets screw Bitcoin let's go directly to
tokens I mean Larry Fink and BlackRock is basically going all in at this point
and let's not forget BlackRock is already major shareholder in four of the five
Bitcoin miners largest miners excuse me and guess what they're a major
shareholder in micro strategy too Michael Sailors precious micro strategy yeah
BlackRock is a major shareholder as well so they've been getting their hands
and a lot of things way before they announced they submitted an application for
a spot Bitcoin ETF they are ready they're ready to move forwarding a big way
and so is everyone else what about another large asset manager Fidelity okay
they're hiring for a token research position but they are also very invested in
Bitcoin Miners and also being a custody uh or being acustodian I should say
offering custody service and I'm sure you know they're also come out of the
Bitcoin Spa YouTube i mean they're they're in the same position BlackRock
everyone is everyone wants to jump in right now right and they're playing catch-up
retail investors long-term holders the hodlers they've been in it for way
longer but now these big boys want to catch up here's another one another bank
City Group will let rich clients use private blockchain or transfer asset
interesting again tokenization tokens yeah it's a big big deal important note
this is only going to allow rich clients to use it okay and then uh Australian
Bank also doing the same thing but they're realizing chain link ccip for cross-chain
interoperability so that's fantastic a lot of news a lot of talk about chain
link recently right because chain link after years upon years upon years your
ccip network is basically it's a basically aa framework that allows different
chains to talk to each other and brings true interoperability for hundreds of
apps and now it's being looked at by Banks as well so good for chain link
they've been moving pretty good recently but of course it's not just chain link
Ripple is also in there right Brad garling house is saying that yeah XRP will
be the next Bitcoin why because uh The XRP Ledger is going to bring upon a lot
of interoperability basically right so that's awesome and then also Avalanche
also you know they want to do the same thing in fact they're they're just
launched a 50 million initiativeum where they're gonna go tokens of assets on
the Avalanche Network so they're just gonna buy it up which is quite
interesting right but Avalanche is also in the mix they're not the same as
chain link or Ripple in terms of being like a bridge currency bring
interoperability but they're working on it but this is more like just focusing
on tokens right so good for them good for them all right that is pretty much it
today overall like I said it's a still a good Green Day not as green as this
morning probably because you know because he had something to do with it but
overall right so much goodness coming so let's do some a foreign let's see if I
missed anything here Troy mcdraine says 69 month of buying price will climb
slowly during how every eyes this is a time to be accumulating weknow so many
good things are happening in 2024 so it's really just think of it as a buying
opportunity accumulation period where you could still pick up for cheap before
to spot Bitcoin ETFs come before BlackRock introduces billions upon billions to
the space before the having event and of course the endless printing of money will
not stop hello from Beirut 5 A.M welcome chain Lee never moves during bull no
it does everything moves everything moves during a bull market that is for sure
are you coming to the proper party in New York City what is that the name proper
party or what or is there something else I didn't hear about it you think one
day we'll stop to depend stop depending on the USD yes but it's gonna take a
while it's gonna take a while it takes a while to get off to change your new
Reserve currency so it's not gonna come anytime soon but it will happen especially
you know of this when the debt is so high it's called Crush everything and then
yeah then we're going to move on to something better I guess how much of impact
would a few hundred dollars in BDC make the next Bull Run Briannaum a few
hundred dollars could turn into a few thousand dollars you know I think that
realistically you could see Bitcoin do a 5 to 10x in the next Bull Run so a few
hundred becoming a few thousand where do you believe we are on the curve for
Bitcoin personally I still think early adoption which means we have yet to end
the exponential gain phase I agree with that so like I would say we're
still like toward the bottom starting to go upwards but definitely not on the
parabolicup trend yet right we're still kind oflow 20x on Solana soon according
to Ruby you know can can Solana realistically do a 20x in the next Bull Run I I
think it can okay uh where was Solana before you know it was like two 260 so I have to go to 10x you know more than 10x to get the all-time high and can
it go past that 15x 20x I mean it could it could maybe like a 15x I don't know
about 20x but it's somewhere between 15 and 20.I think that could happen any
thoughts on V chain still a fan of each and they just need more apps I think
they need more and more defy apps specifically they just need more of it here
forever Singapore it's obvious you only asked about Cadena you're trying to
hide effect you don't only ask about Cadena I'm off to kadena bandwagon hate to
say it maybe I'll learn a thing or two maybe I'll meet the team finally at
Cypher Punk when I'm off to kadena bandwagon what is causing tonto go up to top
ten I honestly can't tell you there's something I I told you guys the other day
I think there's something fishy with going on with tone coin it is moving at
what a I don't know it has decoupled from everything else has moved at
astronomical rate and it doesn't make any sense so I said I'm staying away from
it because I don't trust anything that moves up this much this fast generally
speaking it will find the top and start coming down this is just so unnatural
now telegram did say that they're offering wallets now and it's from tongue
coin but there's some close relationship ready so I can't say I trust it the
coupon pull fast while I'm in the U.S they'll pull everything off went back to
test it my account is still fully functional I don't know if that's true man
Barry Manor us you could enter you could still log in but you can't do any
trades you can't do withdrawals basically withdrawals are very limited I think
you could still do one b2cwithdrawalsbutI don't think that's true unless they
some how missed your account foreign I have no thoughts on H bar always been
Modi as blockadena helium will they recover I don't know I've gotten off both
bandwagons because over the years they have done some stuff that I do not like
I hope they can but I'm not sure they can very good for you then I don't know
what you want me to say about that if you want to continue to use it okay be
careful because they may just lock you out once they find out that they forgot
to lock you out yeah Jeff Wharton it's uh they were definitely much stronger
before but then again you know everything was stronger in 2021 but in regards
to Cadena a lot of fighting a lot of controversy a lot of fighting and the
fighting continues and me personally when I try to get a hold of the team they
didn't want to talk there's just a lot of things that's going on but maybe
there'll be a cyber punk maybe they will say something you know announce something
or something but they're just too much foreign never buy a crypto named after
the moon or gas I guess was named after a gas oh like helium I guess helium was
fine helium was fine until they decided to force everyone to make the move to
Solana which no one wanted and then Plus there was a lot of problems with their
miners people that bought miners couldn't get support for them and overall and
there was something else too I forgot something else controversial with helium
as well but I think that the biggest thing was a lot of the VCS in the helium
were like big salonic people so they kind offorced to move and uh and then yeah
that kind of ruinedit but who knows they're still operating you know maybe they
could come back chain link is having a good day today Cosmos having a good day
today too of of16 this week that's good really good Cosmos I still think it's under
valued V chain is still up 19 this week I think mostly from the beach coinbase
Edition so that's good door chain up about 28 not sure why let's see everything
else big Movers you know that's about It can you go to tanjem why isn't just a
wallet maker they don't have a token I thought Ihad a token do I like dydx I I
never use them so I don't know foreign good for Cosmos though Cosmos still one
of my favorite projects but their token economics needs to need somework all
right to conclude overall it's still a pretty good day even though this
dampered a mood a little bit but overall today is a good day and you know what when
you have the US government printing one trillion dollars per month per month
that tells you something it tells you not to trust them tells you to trust Bitcoin.
