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(00:01):
It is 09:04AM
Pacific Daylight Time. It is June
2025,
and this is episode eleven seventeen of Bitcoin and it's the news
minus all the noise. What do I got on deck today?
Well, the EU risks becoming a flyover zone as far as Bitcoin is concerned and Thailand is in the news

(00:24):
as well as pump.fun.
We're gonna talk a little bit about Meta Planet because they flipped Coinbase on their reserves, and that's gonna be a little bit interesting, but not as interesting as Tennessee's
senator Hagerty's vision
beyond the genius act. He is looking at his home state of Tennessee in a very, very serious way when it comes to Bitcoin

(00:46):
and power differentials in The United States.
Fold is in the news. H one hundred group is in the news, and so is DDC Enterprises because they're all either just entering
becoming a Bitcoin treasury company or they are adding to their stack.
And even though
and I get it. We're not all that happy about the fact that we're entering we're seeing this new fad.

(01:11):
And if you've been in Bitcoin, you know, for any length of time, that should worry you, and
it should. I mean, well, it shouldn't scare you because there's nothing that we can do. What would be more scary is if we were
somehow able to not allow these companies to actually stack Bitcoin because that means that anybody would be able to tell anybody else whether they could or couldn't stack Bitcoin. Because remember, Bitcoin is for enemies whether you like it or not.

(01:39):
But these companies are buying Bitcoin, and they're buying a lot of Bitcoin.
And I just think that it's important to keep abreast on the fact that this is expanding,
and it's expanding in ways that I I am still caught kinda caught flat footed on just
how fast this is all going. But first,

(01:59):
let's get into the European Union.
They are risking becoming a crypto flyover zone between The United States and Asia
according to a report
from Franklin Templeton,
Stephen Graves brings it to us from Decrypt.
The EU risks becoming a flyover zone for crypto as the pace of legislation

(02:20):
lags
behind The United States and Asia,
according to an executive at asset management firm Franklin Templeton.
Speaking at the DigiAssets
twenty twenty five conference, the firm's
international legal lead for digital products,
Catriona
Kellis,
argued that while Europe is in a strong place, there are concerns

(02:42):
that it could become a flyover zone between The United States and Asia.
She lauded the energy that's coming from The United States, which is providing an energy boost in Europe, quote, there's a real risk with this technology that jurisdictions
which were perhaps at the very forefront just a few years ago,
it's so easy to fall behind if it takes a long time to go through your legislative process, she said,

(03:07):
pointing to other jurisdictions
with more flexible approaches to the crypto sector.
The European Commission appears to be taking notice,
recalling
a recent talk where, quote,
they said a word that I'd never heard them say before,
which was
competition.
Quote, they're definitely asking the right questions,

(03:28):
Kellis said, adding
that there are more than whispers around the Micah two, which is an update to the markets and crypto assets legislation
that came into force
June 2023. Quote, it's definitely potentially coming.
Definitely
potentially
coming.

(03:48):
Well, honey, the end of the
end of everything is definitely,
potentially coming. I I mean, it the what? Oh my.
Sorry. I'm just I trip over things like that, and it just freaks me out. It's definitely
potentially coming, y'all. It's an announcement
of an announcement
she added hedging her bets somewhat. Oh, for fuck's sake. Hedging her bets. That's

(04:13):
that's not just hedging your bets, man. Kellis
also flagged the EU's DLT or distributed ledger technology
pilot regime.
It's meant to provide crypto companies in a sandbox or with a sandbox in which
to operate while regulators observe how things pan
out. It's only been in effect for a year, but officials are trying to renovate and make sure that it's fit for purpose.

(04:40):
So is Micah two incoming?
Amid the healthy energy that's going to start coming out of Europe, Kaye suggested
that concerns that Micah two
could prove to be more restrict restrictive
may be lessened
lessened
as we see some of Europe looking to what's going on in The US and what's going on in APAC.

(05:02):
The crypto industry isn't sitting around. Just this week, reports revealed that crypto exchanges Coinbase and Gemini
are angling for operational licenses in Luxembourg
and Malta respectively,
which would enable them to operate across EU's 27 member states.
Some European Union regulators have reportedly raised concerns over the rapid pace of, quote, passporting

(05:26):
approvals
in some jurisdictions which prevent EU states from blocking crypto asset service providers
once they're licensed to operate in one state.
As global adoption of digital assets becomes more entrenched,
Kaye anticipated an institutional attitude change
among regulators and lawmakers around the world. Quote, it's quite difficult

(05:49):
to put that back in the box and go back to a more risk averse approach, she said.
In looking at regulatory enforcement, she added, quote,
we're thinking
about that soft regulatory approach,
which, you know, can be just as challenging to opt to manage as what's written on the page, whatever the hell that means. Increasingly, Kaye suggested,

(06:11):
quote, what we're really seeing is regulators being challenged by their governments,
being challenged by their leaders to make that change and not just within the box that they've always been presented with.
So Mica two
is on the horizon apparently, and this is the first I've actually heard about Mica two. So it's going to be interesting to see just how worse it gets for Europe because I I can almost guarantee it's not gonna get any better for Europe.

(06:39):
Christine Lagarde is has pinned a piece. I'm not gonna read it.
And the, ECB is is touting it as as her latest blog post talking about
how they're really going to push the digital euro
to prominence
to prominence.
And it's just it's just sad to see because they're reaching at straws over there at the EU.

(07:04):
And as this
headline has suggested that the EU could become a flyover zone
between The United States and Asia.
Just to reinforce that idea, we have this one from atlas21.com.
Thailand has abolished taxes on Bitcoin.
It is a five year tax exemption.

(07:25):
According to
eFinance
Thai, Thailand has approved a five year tax exemption on profits
from the sale of Bitcoin and other digital assets.
The decision aims to position the country as one of the world's leading digital financial hubs. Hubs.
On June 17,
Thailand's cabinet officially approved the tax measure proposed by the Ministry of Finance.

(07:48):
The initiative removes personal income tax on capital gains
from the sale of cryptocurrencies
conducted through licensed operators under the twenty eighteen
Digital Asset Business Act.
Deputy finance minute minister
Julipun
Amoraviet
stated that the tax policy is a cornerstone of the government's strategy to turn Thailand into a major global center for Bitcoin and blockchain based financial services.

(08:17):
The capital gains tax exemption, which will be in effect from January
2025
to 12/31/2029.
It applies exclusively
to transactions carried out via exchanges, brokers, and dealers licensed and regulated by Thailand's
Securities and Exchange Commission.
Thai authorities estimate that the tax reform will boost the domestic product

(08:41):
Bitcoin market sorry, the domestic Bitcoin market generating positive spillovers
for the country's innovative tech ecosystem.
Economic projections indicate a medium term tax
or rather increase in tax revenues of at least 1,000,000,000 baht or around $30,000,000
US,
driven by sector growth and fresh investment inflows.

(09:04):
According to the government, the initiative is also expected to encourage capital raising
through digital tokens and foster the development of blockchain based financial services.
I think what they're really trying to do is make sure that they don't have a shit ton of capital flight.
But see, this is this is where
Europe is they're gonna be last in line as Ronnie James Dio used to say in that song, Last in Line. If you've never heard that song, it's literally one of the greatest songs from the eighties you will ever hear if you ever were, you know, if you ever liked any kind of decent kind of rock and roll.

(09:42):
They're going to be the last in line. Europe is going to just absolutely
their their hubris is so strong at this point
that they're going to not even see just how badly they've fallen behind.
With Germany nuking all of its nuclear reactors for energy production,
at the same time allowing themselves to be completely dependent on Russian gas,

(10:06):
at the exact same time that Russia invades Ukraine, and now Germany finds themselves in a whole pickle of energy
deficits,
You got France,
who is the largest grid in Europe, and yet
half of that country went down. Was it no. Was it Spain? But they were relying on part of France's energy grid kinda went down.

(10:28):
This is Europe is not looking good
at all. I mean, at from any way that you look at Europe, Europe is not looking like it is anywhere close to the catbird seat.
And yet here we have Christine Lagarde
continuously,
continuously, continuously
talking about the digital euro. It's not going to go anywhere.

(10:49):
And anybody that gets duped into trading
anything that they actually have of value
in exchange for the digital euro is gonna find themselves on the wrong side of everything, and I hope anybody that's in Europe that's listening to this takes note of that. Just be very careful with what's going on
on y'all side of the pond right here. Okay? Now,

(11:12):
meme coins.
Oh, god. Pump.fund
seems like they might be in trouble,
and probably more than just what we're gonna read here because, generally speaking, when things like this happen, it means there's something else is boiling up under the surface. But pump.fund
and other meme coin accounts have been suspended from x

(11:36):
in an apparent crackdown. Sharra Malwa has this one from CoinDesk.
Social media giant x. Yeah. I'm I'm gonna have to just start saying x because it's just too hard to say Twitter.
This is Bitcoin and its capitulation.
Okay, Musk. You got me. I'm just gonna call it x from now on. Social media giant x suspended

(11:57):
pump dot fund's official account and cofounder Elon Cohen's personal
handle
on June
alongside other meme coin related platforms including
GMGN,
Bloom Trading, BullX, ElizaOS,
and more earlier on Tuesday.

(12:17):
The platform issued no reason, triggering
speculation about internal policy enforcement or wider regulatory intervention,
but sparked grapevine talk in crypto circles of a possible legal crackdown on such products.
Pump dot Fund's website remains live as of Asia's morning hours on Tuesday, continuing to churn out Solana meme coins

(12:39):
uninterrupted,
and theories range from unauthorized
livestream
or API abuse,
pump and dump mechanics,
or early stage SEC
Securities and Exchange Commission activity.
So far, none of these theories have been confirmed by platform officials or regulators.
Last November, concerns over unsafe livestream content

(13:01):
ranging from threats of violence, wow, to explicit stunts
forced the team to disable the feature entirely.
So I have no idea what that last bit is about, but
it does seem that pump.fund
has been taken out of circulation at least on x. And if you don't know what pump.fund
actually is,

(13:22):
do you remember hoktua
coin?
Or do you remember, what was it, the raccoon and squirrel coin that that farmer or that guy had I don't know. He started these two meme coins or whatever when the animal services came over and euthanized his pet squirrel and raccoon and he made meme coins out of it. All of that was done through pump dot fun. And I'm pretty much convinced that what the way this works is that pump dot fun

(13:48):
finds
scans social media and looks looks for what's trending,
and then goes and examines that and then makes a determination whether or not there's somebody behind a meme that's going viral
like the Hawkgirl or
the, you know, the squirrel guy, and then reaches out to them and say, hey, I can make you a lot of money. Let's do a meme coin. The people on the other end of the phone have literally no idea what they're about to engage in,

(14:15):
and everybody gets duped for millions of dollars.
So,
clearly,
it this is
pump dot fund fund is just a scam machine,
and if I were you, I would stay as far away from it as humanly possible. That's for damn sure. Do you need a wallet?

(14:37):
Do you need a wallet to put your fiat credit cards in? Do you need a wallet that could
functionally
act
as
an NFC device that you can just tap and pay with lightning?
Well, you got it over here at the leathermint.com.
That's the leathermint.com,
where you've got all manner of wallets and belts and all kinds of hand built leather goods. Not only is the leather of the highest quality,

(15:05):
but the construction of the wallets and belts. And now he's even making watch bands, although I don't think he's actually got anything for sale just yet. But he's over on Noster showing some watch bands that look pretty damn good.
These all of his gear is hand stitched, guys.
He knows what he's doing. He's been doing this for a while.

(15:25):
His product just gets better and better and better. Ladies and gentlemen, this is the kind of wallet that's going to outlive you.
This is the kind of wallet that after you die, your son or daughter
might actually
go, I I want the wallet.
I want the wallet. I want something to remember dad by. I know it sounds a little it sounds a little awful, but

(15:46):
who who doesn't want something from their father or their mother
after they've passed away?
You but you need to have something of high quality to be able to make it that long.
You know how many wallets I've been through? I've been through, like, five wallets in my life. I keep looking at these things, and I can't afford it right now, but I keep looking at these things. This is the wallet that I want.

(16:10):
Of all the wallets that I've ever looked at, this is the wallet that I want.
These come in all manner of colors. They are hand stitched. If you look really closely at the stitching, you're going to understand why this thing is never ever ever ever ever ever ever ever going to fall apart. And you can get 10% off of any purchase
with the use of Bitcoin and in the coupon code.

(16:33):
The leathermint.com.
Leathermint takes Bitcoin. Okay? They in fact, they sell all their stuff for he sells all the stuff for Bitcoin because if you're not in selling your stuff
for Bitcoin, you're not in the circle p, because the circle p is about supporting each other. When you support the Leathermint by buying his wallets and belts and other items,

(16:54):
you're supporting Leathermint.
When you do that, Leathermint
is able to say, hey. Bitcoin and made a sale for me. I'm going to support Bitcoin and by sending him some Satoshis.
That the way that works is that Leathermint gets to determine how much the sale was worth, and then Leathermint, if he if I make a sale for Leathermint, will actually cut me some Satoshis for that sale. Again, it's 10% off with Bitcoin and if you want a wallet that's going to outlive you, go to the leathermint.com.

(17:25):
That's the leathermint.com.
Use Bitcoin and to make sure you get 10% off and to tell
him where he made the sale from.
Onto Meta Planet.
Their BTC reserves has now flipped Coinbase
in one of the most embarrassing
moves I've ever seen.
It's actually a little bit ridiculous. In fact, I wanna get something up here. I've gotta get TradingView up

(17:52):
so that we can look at Meta Planet
while we're doing this.
Alright.
Go to week.
Alright.
So
Meta Planet's BTC Reserve flips Coinbase reaching its 2025
goal, And this is Alex Larry from bitcoinnews.com.

(18:14):
In its latest Bitcoin acquisition act, Japanese investment firm Meta Planet has hit its target
of 10,000 Bitcoin,
a goal it set for 2025 but achieved in just six months.
With the latest purchase of 1,112
Bitcoin worth approximately 117,200,000.0,
the company has now surpassed

(18:36):
United States based giant Coinbase,
which holds
9,267
Bitcoin and is now the ninth largest public Bitcoin holder in the world.
And CEO Simon Gurevich announced Meta Planet has acquired 1,112
Bitcoin for a $117,200,000

(18:56):
at a 105,435
per Bitcoin and has achieved a BTC yield of 266.1%
year to date in 2025.
Okay. So
whether or not we know, you know, we've already known that that they have 10,000, which I told you about yesterday, is not really the point.

(19:17):
I'm looking at their weekly chart over here on tradingview.com.
And in '20 let's just take
February
of twenty twenty,
you had a actually, let me I gotta I gotta actually convert this over to USD because for some reason, it keeps coming up in Japanese yen,
and it's not. Okay. There we go.

(19:39):
So in let's see. Let's go all the way back
let's go all the way back to its highest
price ever,
and that was
in February.
It had a high price
of $301
a share.
Right?

(19:59):
It started plummeting.
It plummeted
all the way down in February
to $2.15.
And then it shot back up
in April of twenty thirteen, but then
its lowest point ever
was in 2024,

(20:21):
February.
And that's right around the time that they announced that they were getting into Bitcoin.
So February 2024, they were chilling out at 11¢
per share. Now they've had stock splits. Okay?
So it's it's it's when you're looking at stuff in the past before a company starts doing stock splits,

(20:42):
things
feel a little weird when you're talking about these prices on the long term because they have been adjusted for these stock splits, but just bear with me because in February of twenty twenty four, you're looking at 11¢.
Now it's at $12.75.
That's
a phenomenal

(21:02):
rate of change. And if I look at this on the monthly basis,
I'm looking at like, you know, we're we're looking at like just a, you know, a year and a half or so of nothing but green candles, and we're talking massive green candles here for Meta Planet.
So I, you know,
I'm not suggesting that you go buy Meta Planet by any means. If you if you really need Bitcoin, just go out and buy Bitcoin. Just hold it yourself.

(21:29):
But we are seeing we are seeing some rather
awful downward pressure today. I can only assume that that is because of the Iran
Israeli war that's going on right now
and is probably affecting other markets. In fact, let's run the numbers.

(21:56):
Futures and commodities, but first, retail sales on a month over month, that data just dropped, and people are buying less.
Negative 0.9
is the actual number, and the forecast was negative 0.7.
And previously,
it was negative
0.1.

(22:17):
So sales have slowed
precipitously.
That's pretty much driving
a lot of what we're seeing in the markets.
Right now, Bitcoin is down 2.44%
to $104,222,
and I almost guarantee that it's not just the retail sales number.

(22:38):
Oil, as you might expect, is doing very, very well this morning. 2.86%
upwards momentum for West Texas Intermediate brings it to $73.82,
and Brent, North Sea is up almost three points to $75.36.
Natural gas swinging for the fences,
$2 nope. 2.4%,

(22:58):
bringing it to $3.83
per thousand cubic feet. Ladies and gentlemen, we have not seen that price in quite a while.
Gasoline also on the rise, 1.2%
to the upside,
$2.24
a gallon.
Gold is down a half point to $33.97
and 5 dime. Silver is up two and a quarter. Platinum is up almost a full percent.

(23:21):
Copper is down a half. Palladium is up two.
Biggest winner in ag today is wheat, 2.42%
to the upside. Biggest loser appears to be sugar, 2.72%
to the downside.
Live cattle is down 1.7,
lean hogs down point one eight, and feeder cattle are down one and a quarter.

(23:41):
The Dow is crab walking sideways, but it's in the red slightly.
S and P is down a quarter. Nasdaq is down two tenths of a percent, and S and P is down two tenths of a percent.
And as I mentioned, Bitcoin is down from
yesterday's $108,000
no. One yeah. $108,000
price tag. It is now barely scratching a $104,180.

(24:06):
That is a $2,070,000,000,000
market cap, and we're only able to purchase 30.6
ounces of shiny metal rocks with our one Bitcoin of which there are 19,879,928.96
of, and average fees per block are quite high,
0.05
BTC taken in fees on a per block basis.

(24:29):
There appear to be about 13 blocks carrying 16,000
unconfirmed transactions
waiting to clear at high priority rates of 5 Satoshis per vbyte.
Low priorities get you in at four.
We've had a pretty good drop in hash rate, but we're still above 900,
hanging in at 901.6
exahashes
per second.

(24:51):
And from
oh, good lord. Trump goes full crypto,
I've got
boostograms.
I've got holy shit. I've got Jay with 25,000
satoshis
says, I've been listening off of fountain for a little while, but I'm back on it. Thanks for bringing me all the news that I can use calling out Turkey to say something. Or are you chicken? Hi, Yodel.

(25:15):
Psyduck
with 718
sats says
Psyduck. Yodel with 511 says, Turkey speaks. Turkey with 500 sats says, sorry, fat fingered the first boost
Back to radio silence.
Turkey with another 500 says, g I. That must be the fat fingered boost.
Perma Nerd with 210 says, gee whiz. This is a good show. Jay with two ten says, my apologies to Turkey.

(25:41):
Sent that last boost at the top of the show. Really interesting to see how different parts of TradFi get into Bitcoin in every way possible. It'll be fun to see how each strategy shakes out over the years.
Yeah. Yeah. Well, Pies with a 100 says, thank you, sir. No. Thank you.
And that's it. Again, to Jay and his massive ass 25,000

(26:02):
satoshi
boost, thank you so much, sir. It is very much appreciated
as all of the boost and live streaming is appreciated. If you wanna help support the show, get a podcasting two point o
enabled
app. Please
get off of Apple Podcasts.
Get off of SoundCloud.
You guys have got to start looking at the podcasting two point o apps.

(26:27):
Fountain.fm
is my daily driver and they keep upgrading it. Sometimes it breaks, sometimes it doesn't, but I'm a huge fountain fan. I've been a fan of fountain for a long time. Go to fountain.fm
and get your app on your
iPhone and or your Android phone.
That way you can send me boost. You can support the show. You can do it with Satoshis. It's the easiest way. All you gotta do is hit that zap button, man.

(26:54):
Just hit the zap button. That's the weather report.
Welcome to part two of the news you can use, senator Hagerty's vision beyond the genius act. He wants to make Tennessee a hub for Bitcoin mining.

(27:17):
This is Frank Korva writing for Bitcoin Magazine.
Senator Bill Hagerty Hagerty
has been in the headlines as of late as the Genius Act, a bill for which he was the primary sponsor, moves closer to passing in the United States Senate.
And you know what the Genius Act is. I'm not gonna rehash
it. However,

(27:37):
stablecoins, of which the Genius Act is about, aren't the only thing senator Hagerty's mind is on. He's also thinking about
how to best produce
and harness energy in the great state of Tennessee
to use it for Bitcoin mining and artificial intelligence
compute power.
He shared his vision on this topic with me in an interview I conducted with him at Bitcoin twenty twenty five.

(28:02):
Quote,
we have an opportunity
before us to be in the very lead, senator Hagerty told Bitcoin magazine
in regards to building nuclear facility that can be used to produce energy for Bitcoin mining and AI compute power. Quote, the largest utility in the world
is the Tennessee Valley Authority,

(28:22):
certainly the largest one in America, and I think we've got a unique opportunity here to move forward
and become the energy hub of America,
end quote,
pausing.
The Tennessee Valley Authority is one of the most important
energy utility
institutions that The United States has.

(28:42):
The Tennessee Valley Authority,
back in the day,
was heavily involved
in
the production of the first nuclear weapons on this planet.
And a lot of people don't remember that.
But Tennessee
is one of the greatest states for nuclear energy because it has its feet. Its history

(29:05):
goes decades back into the mid to, you know, earlier nineteen hundreds in The United States, you know, '19
late nineteen thirties, getting into the early forties.
And
they they they now everybody knows that the bomb was built out in New Mexico. We we or, yeah, White Sands in particular.

(29:26):
But where did the nuclear material
material come from?
Well, that was part of what the Tennessee Valley Authority was involved with back in the day.
They've never they've never kind of left. And one of the things that if if I remember correctly, they got spun out of that was the atomic energy commission
of the United States

(29:46):
after World War two, and then that and I can't remember what the atomic energy commission,
started or became after that.
But when we talk about the Tennessee Valley Authority,
they really do understand nuclear energy, probably more than any other state in The United States. And I just wanted to make sure that everybody knew that before we continue,

(30:07):
quote, we should
see more and more, not my only mining operations,
but if you think about what Elon Musk is doing in Memphis with XAI,
the data centers,
the opportunities with artificial intelligence, there are many, many things that are going to happen in Tennessee.
The senator added that he believes the state can also strike partnerships with Oak Ridge National Laboratory,

(30:31):
Vanderbilt University, the University of Tennessee, and Tennessee Tech as it works to become a more friendly destination for Bitcoin miners and data centers.
Pausing to remind everybody that Oak Ridge National Laboratory
was in fact where nuclear material was being processed, and and that's where a lot of the design

(30:51):
of how this these nuclear bombs were actually going to work. Right? So this is again, Tennessee
has a rich history in nuclear energy. So this guy, I don't think he's blowing smoke here. The senator added that he believes the state can also strike partnerships with oh oh, sorry. I've already read that. Goddamn
it. Quote, we've got great opportunities from Memphis all the way across the state,

(31:14):
said senator Hagerty.
Whether it's working towards stablecoin legislation or crafting
regulation that will enable industries like Bitcoin mining and data centers to thrive in The United States.
Senator Hagerty believes these efforts should be inherently bipartisan.
Quote, these are bipartisan
or nonpartisan
issues, frankly, said the senator. If you care about the competitiveness

(31:37):
of America and you want to see innovation happen on our shores
rather than being pushed overseas,
well, then you're going to support what we're trying to do in terms of putting a regulatory framework in place
that will deliver certainty,
that will create an ecosystem here in America that will allow these companies to thrive. Quote,
it's not just the stablecoin legislation I'm putting forward or what may happen with Bitcoin or other technologies like that. It's the overall blockchain technology,

(32:06):
god dang it, that's going to help
advance America beyond the twenty first century. We need to stay in the lead and we can stay in the lead. Okay. Everything was great about that except for the whole blockchain technology.
No, senator Hagerty. It's not about blockchain. It's all about Bitcoin. But,
again,

(32:28):
these
things that he's saying,
he's he's
he's operating of from a position of deep knowledge of nuclear energy. Right? Maybe not he himself,
but the state of Tennessee,
the Tennessee Valley Authority,
Oak Ridge National Laboratory, and all the universities that came together
that essentially

(32:49):
kinda populate
Oak Ridge National Laboratory,
all of these things,
we should take them very, very seriously. When Hagerty says that they're probably gonna be building nuclear power plants, what we're probably going to see is a complete innovation of nuclear power, and it's probably going to be centered inside of Tennessee.
That's that's sort of where I'm I'm thinking what I'm thinking is gonna happen. Now Fold

(33:13):
from, like, you know, Fold app,
Fold has secured $250,000,000
of equity
to purchase
and expand
BTC Treasury according to Daniel Kuhn from the block.
Fold Holdings,
ticker symbol is FLD, by the way, the parent company behind the Fold Bitcoin wallet and app, has secured a $250,000,000

(33:36):
equity purchase facility
to expand its Bitcoin treasury according to an announcement on Tuesday.
The firm says it has entered into an agreement to sell up to $250,000,000
worth of newly issued shares
to fund its Bitcoin acquisition strategy. Quote, the company is not required
to use the facility

(33:57):
and controls the timing and amount of any drawdown the announcement reads, implying
no coins have been purchased
as of the date of the filing with the United States Securities and Exchange Commission.
Like many recent crypto
corporate treasury firms such as twenty one Capital and Nakamoto,
both of which took cues from Michael Sailor's BTC acquisition vehicle strategy,

(34:21):
Fold is funding its purchase through private placements, which effectively turn its stock
into a leverage play
on the price of Bitcoin. So, yet one more derivative is what they're really saying. Fold launched in 2019,
began as a wallet company, and has since expanded into broader financial services including the Fold card
and a Bitcoin treasury strategy. It has entered into at least one other convertible note agreement

(34:47):
to purchase 475
Bitcoin. And according
to Bitcoin treasuries,
Fold now holds approximately
1,500
BTC
worth around a $157,000,000,
making it one of the larger publicly traded Bitcoin treasury firms.
They went public in 2024
through a SPAC merger with Nasdaq traded FTAC Emerald Acquisition Group

(35:11):
at a pre money valuation of $365,000,000
at the time.
So Fold is marching on as well as
h one hundred Group.
They receive a 144.8
Bitcoin in a convertible
loan deal.
I thought this was kinda interesting. Jenna Montgomery has it for Bitcoin magazine.

(35:34):
H one hundred Group,
a Swedish
health tech firm, which I've I've we've talked about it before here on the show.
They have received a 144.8
Bitcoin as part of a settlement
tied to its convertible
loan agreement according to a company press release issued on Monday.
With this latest transaction, the Stockholm based firm now holds a total of 169.2

(35:59):
Bitcoin on its balance sheet.
So
they went
from holy crap. They went from, like, 20 Bitcoin to 100 to 169
Bitcoin in almost one shot. That's pretty impressive.
The 144.8
Bitcoin was transferred as part of the first hour segments
of h one hundred's loan agreement, which has been well received by investors thus far.

(36:24):
H one hundred said in the release, quote, h one hundred group a b has today received 144.8
Bitcoin as part of the proceeds from tranches
one through four
under its previously announced convertible loan agreement.
This follows recent reporting from Blockstream CEO, Adam Back,
committing to lead a 750,000,000

(36:46):
kroner or $79,000,000
US funding initiative
for h one hundred anchored by a 150,000,000
kronor injection
in tranche number six.
The loan,
structured for speed and cost efficiency, was priced at $6 oh, sorry. 6.38
kronor per
share,

(37:07):
a 33%
premium to market
showing investor confidence. So they're paying one third over what they would be if they just bought the damn Bitcoin themselves.
The loan structure includes a settlement flexibility
either in cash or Bitcoin, which allows counterparties
to opt for BTC delivery,
reducing fiat friction and lining up with the firm's long term treasury outlook. Oh, that's nice.

(37:31):
They can get physical delivery of the BTC if they choose. That's gonna be interesting.
Quote, unexpectedly,
given the strong reception,
tranches one through four became in the money rapidly, Bak told CoinDesk, quote, I was expecting
h one hundred would convert them over time as they reached in the money status, end quote.

(37:53):
This funding approach
allows h one hundred to bypass
traditional rights issues while onboarding capital in a flexible manner.
Tranches seven and eight are now on deck with room for size increases depending on market appetite.
This also reflects h one hundred's evolving financial strategy.

(38:13):
While the company's core operation remains focused on AI driven health and longevity
services,
its growing Bitcoin position is reshaping how capital is raised,
stored, and deployed.
As of now, the company's BTC holdings stand at a 169.2
Bitcoin,
up from just 24.4
Bitcoin prior to this latest latest tranche execution.

(38:38):
The stock price has jumped 22%
on Monday in response to those developments and as the firm continues negotiations
for future tranches and explores adoption of BTC
as a financial backbone,
it positions itself uniquely at the intersection of health tech and decentralized
finance.
So

(38:58):
h one hundred
has apparently done
exceedingly
well in this deal.
Everything about what I just read is that at least in the as far as,
this particular company is concerned,
they are selling
out of these instrumentations
hand over fist.

(39:18):
They've already got in the money on the first four tranches.
They're working on number six right now, and tranches seven and eight are on deck.
And, apparently,
there seems to be no squelching the appetite.
So just
understand that
we can hate what's going on with this whole companies buying Bitcoin thing, but it's not going to stop.

(39:43):
Because DDC
Enterprises
has secured themselves
$528,000,000
to expand their own Bitcoin holdings.
Bitcoin Magazine Oscar Perez is writing, today, DDC Enterprises Limited
announced that it had raised
three security purchase agreements for a total of 528,000,000

(40:07):
to expand its own Bitcoin holdings. According to a press release, this is one of the largest
single purpose Bitcoin raises by any
New York Stock Exchange listed company.
Quote, today
is a defining moment for DDC Enterprises and our shareholders,
said the founder and CEO of DDC Enterprises, Norma Chu. This capital commitment of up to 528,000,000

(40:31):
backed by respected institutions from both traditional finance
and the digital asset frontier represents a strong mandate to execute an ambitious corporate Bitcoin accumulation strategy globally.
Our vision is unequivocal.
We are building the world's most valuable Bitcoin treasury.
That was a direct quote. Really?

(40:52):
You got a long way to go there, Chicky.
The funding, backed by investors including Anson Funds,
Animoca Brands, Kinetic Capital, and QCP Capital will be primarily allocated towards significantly increasing
the company's Bitcoin holdings. Quote, this funding
is expected to propel DDC into one of the top global

(41:12):
corporate Bitcoin holders.
This investment by Anson Funds and the group of pipe investors is a resounding validation of Bitcoin's important role
in future corporate balance sheets, said Chew.
Components of the capital raise include now remember, there were three instrumentations
that were presented.
The first one is a 26,000,000

(41:34):
equity
PIPE
investment
The company will issue
2,400,000.0
class a ordinary shares at an average price of $10.3
per share to investors including Amacoa Brands, Kinetic Capital, and QCP Capital.
The shares will be restricted for 180
days. I guess that means that you can't do anything with it for one hundred and eighty days.

(41:59):
The second one is a $300,000,000
convertible note and $2,000,000
private placement.
Anson funds will provide the initial $25,000,000
with no interest.
To mature in twenty four months with up to $275,000,000
available in future tranches,
Anson will also purchase 307,693

(42:22):
class a ordinary shares for $2,000,000
in a concurrent private placement.
The third instrument is a $200,000,000
equity line of credit.
Anson Funds has also committed a $200,000,000
equity line of credit giving DDC flexible access to capital for future Bitcoin purchases.
At

(42:43):
DDC,
we will deploy this capital
with institutional discipline
and unwavering conviction,
cementing our position as the premier bridge between global capital markets and the Bitcoin ecosystem
DDC enterprise is strongly positioned
as the definitive publicly traded vehicle for concentrated Bitcoin exposure and value creation.

(43:05):
My focus will be on growing our BTC treasury and delivering attractive BTC
yield
consistently
for our shareholders.
So
that's a lot that's a lot of capital being raised in a lot of different ways to just simply buy Bitcoin.
Again,
you know,

(43:25):
there's nothing that we can do about this, And people are really losing their minds about this because it's just
I get it. It feels like a fad, and it's it it feels like a fad to me too. You're not alone.
Right?
That I I'm seeing a lot of fanaticism
here. I'm seeing a lot of fear of missing out here.
And,

(43:47):
you know, these things don't they they have a tendency to not end very well, honestly.
And that's okay. We've we've been here before. We'll be here again,
but it is what it is. And for the people that are saying that
this is going to kill Bitcoin, no, it won't.
For the people that are saying that it's stupid to buy stock in these companies when you could just hold your own Bitcoin, that one I'm going to totally agree with.

(44:11):
But there's there's
something popped up in one of my,
one of my feeds this morning,
and people were asking,
why?
Why would you actually buy shares of a company stock who's buying Bitcoin rather than just buy the Bitcoin yourself?
And I think what it is is this. I think especially right now where we are at this

(44:34):
maybe the height of the fad, is this peak fad? I don't know. I'm not even gonna call it. But you do have a lot of fear of missing
out. And I think what's really going on here is I think that this the actual statement was, what's a word for this? And then the meme was people buying shares of companies who actually buy Bitcoin instead of buying them themselves.
The word

(44:54):
that I'm thinking of is greed.
But if I had to give it two words, it would be
uninformed
greed. I think that that's what's really going on here, is that
people know that that something's going on with Bitcoin, but they're just jumping on the hype train. They don't really know what it is, not yet.
They haven't really studied it. They they haven't had time or they're, you know, they're fine at trad five bros, man. They're bro dudes. They're they're dude bros. They don't know what they're doing. All they know is that everybody else is jumping on this thing. They have access directly to those markets, so they're just piling in there

(45:32):
because they haven't actually learned how to buy Bitcoin all on their own and how to custody it, or even if they wanna be really stupid, how to let some like, what company should they choose to come custody it for them? I think this is
more reactionary
than anything else.
Me? Do I own Strike or Stryfe or anything like that? No. I don't.

(45:54):
Am I going to? Probably not. Why?
Because the friction.
I'm not a legacy trader. I mean, not I mean, if if I I've
I
own companies that own stock in legacy traditional finance. Yes. I admit it.
That's because I have partners,
and I would be outvoted if I said all of our money needs to go into Bitcoin.

(46:17):
I have said that,
but it's I'm being voted down.
I'm right. I will continue to be right because, like, when I finally got my partners,
which is family members,
when I finally got the other two partners to actually say, okay, we'll buy some Bitcoin.
We bought it at $33,000

(46:38):
Do the math.
I mean, it's the best performing asset that we have,
literally.
And yet,
I would still be voted down, so I don't even bring it up. I mean, I'm maybe I'll bring it up, this some sometime this summer when we're all together,
you know, hanging out at you know, on a vacation or something like that and say that we really need to you know, this this piddly piss ant buying every week

(47:03):
for the amount that we're buying really just isn't enough. We really need to position ourselves better for this. But chances are good they're just gonna vote me down because their they're legacy they're legacy trad financial guys.
That that's the reason that's what I'm getting at is that where's the friction?
Any people hate friction.

(47:24):
They just do. And if they're comfortable, if there if the there's less friction friction for them to buy shares of strife or strike or
strategy or whatever the hell it is, if there's less friction to buy that to get exposure to Bitcoin, that's the road they're going to take.
Water
seeks

(47:45):
the way of least resistance.
It just does.
Right? And people are no different.
I guess that's why, you know, Bruce Lee was like, be like water. You know? I I don't think he was actually saying take the path of least resistance
as much as saying be able to squirm your way out of any situation because nobody can really hold on to water. But in this particular case, if it is less

(48:10):
if there's less friction for me to just buy Bitcoin
instead of going into the legacy markets to get exposure to Bitcoin, by god, I'm just going to buy Bitcoin.
I'm comfortable with it. I know how to do it. I know how to hold it. It doesn't nothing about it. I have no questions about it.
There's no friction for me here.
Right? But if I'm a traditional finance guy and I know nothing about Bitcoin,

(48:34):
then the opposite is exactly true.
And I really think that there's there's probably
more than 60%
of what I was just stating is part of the reason why people are opting to buy
shares of companies that hold Bitcoin or to buy ETFs
rather than buy Bitcoin themselves.

(48:55):
Should I be worried about it? Absolutely not. Should you be worried about it? I don't know. Do you wanna walk around worrying about shit all day? If you do, then by all means, you worry about it, and I'll I'll see you on the other
side. This has been Bitcoin, and and I am your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.

(49:15):
Have a great day.

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