IMF TURNS BULLISH ON CRYPTO & BLACKROCK HUGE STABLECOIN PLANS REVEALED!

Episode Transcript
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Speaker 1 (00:04):
Hey, folks, 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 sit that subscribe button as
well as the 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. Folks. Apologies,
I didn't get to do an episode yesterday. I was

(00:25):
playing some basketball and I hurt my back, so I
had to rest. I was in a lot of pain,
but I feel better now. It's just some tight muscles
that needed to be loosened up. But all good, guys.
Lots of news to cover because I missed yesterday, but
there's a lot of bullish news. And of course we
got to talk about the price because bitcoin right now

(00:46):
sitting below one hundred and nine thousand dollars. There's a
lot of fear in the market right now, folks. A
lot of folks are calling bear market. It's bearish. I
don't think I've seen it this bad for a long time,
and I've been here for multiple bowl and bear markets cycles.
But you know, these things happen, and this is how
the market six cycles play out sometimes. So what's interesting

(01:07):
is that right now we are in extreme fear. That's
where the bitcoin fear and greed inex is at. Now.
When you have extreme fear in a bear market, that's
very bullish. Now I've been telling you guys, I don't
believe the bullmarket's over. I believe we're seeing a very
strong correction here. And when in doubt, zoom out you
look at the charts, you don't see a massive collapse
into a bear market yet. Now is the price down, yes,

(01:30):
obviously right. But what's interesting Bitcoin is touching the two
hundred day moving average right now, and look, it could
break below it. It has broken below it throughout this
bull market. But what if I said, over the years,
nothing good happens below the two hundred day moving average,
and if we are in a down trend below at
two hundred day moving average, it's a bear market. But

(01:50):
what we've seen is Bitcoin has gone down below it
during the cycle and then pop right back up. So
if it does break down, we want to see a
quick reversal or it's a one way trip to bear
market city, right, folks. So I often tell you, guys,
I'm looking at the data right, not feelings or emotions,
and my thesis is that we are still in a
bullmarket based on the data. One thing I want to

(02:12):
highlight on the bitcoin daily chart is the RSIs and
the over soul zone. Now it can go a bit lower,
but we're approaching about thirty seven thirty six, and you
guys know textbook right, when we are in the oversoul,
what happens the reversal. When we are in the overbought,
the reversal. So it's just cyclicality here. Now. Another factor
that I'm using to validate that we are still in

(02:32):
the bull market is that on the monthly chart, the
higher timeframe, bulls are still in control and the RSI,
as I've stated before, has not hit the overbought over
soul levels that we've seen in past bullmarket tops. In addition,
you have global liquidity. That's another factor that is showing
us and has been a leading indicator that there's still
more upside here. Now, one indicator can certainly fail. That's

(02:55):
why we're looking at multiple factors, but this is certainly
a strong one. And risk assets have been correlated to this,
right because we know at the end of the day,
the foundational aspect to why asset prices are going up.
It's not because of charts, it's because of global liquidity. Right,
So the chart guys can't ignore that. They have to
look at global liquidity. They have to look what the

(03:16):
FED is doing, because those things move markets. Now, speaking
of the Fed, we know that Jerome Palell just this
week said the Fed is going to ramp down quantitative tightening,
and I stated, you know in the podcast in regards
to this news, that quantitative easing is on the horizon.
This is the whole fiat cyclical pattern. There's no arguing this, right.

(03:38):
You can argue charts and what may happen next, but
there's no arguing this because this is the foundational element
for all the central banks. It's what's driving the basement
of currency and asset prices. Now, one thing that's interesting,
and this is a great chart that I found here
that shows we are in a position of coming out

(03:58):
of quantitative tightening where the FED will run into quantitative easing.
And it shows what happened in twenty twenty as well
as in two thousand and eight. So the writings on
the wall here. In addition, look at this, we got
some regional banks that are failing. So this could be
the narrative or the catalyst for the FED to speed
up the process of returning to quantitative easing. So there

(04:20):
are a lot of narratives out there with the government
shut down, the tariff wars, regional banks failing, and so forth.
But we've seen some of these things throughout the bullmarket.
Just look at the beginning of the year. Everybody was
saying bull market's over. Trump crashed the whole thing, right,
you remember the fear there, and I was telling you guys,
it's not over. The data is just showing me it's
not over now. The other factor I like to look

(04:40):
at is what are the whales doing, because they are
the ones that move the markets, and right now wallets
of ten or more bitcoin continue to accumulate. There is
no significant downside here showing they are exiting the market.
So all of these factors, in addition to others, are
telling me bullmarket's not over. Now. The chart guys are
going to come and say, hey, look at this chart,
look at this right, but I'm gonna say, hey, yes,

(05:04):
but also look at these charts and look at the
macro factors. You can't ignore that. So that's my thesis. Look,
I could be wrong, right, I'm not here trying to
make fun of people or pump out my chest and
say I know everything I don't, but I'm at least
using the data. And I hope you guys appreciate that
that I'm bringing you a holistic view, not just a
chart view. Because please tell me in twenty twenty, when

(05:25):
the economy was shut down and much more, why markets
were still pumping. We know why they printed the most
money in the history of the world, right, well, theas
the United States, and that drove asset prices higher. So
the chart guys will saying, well, this support level and
that's no, no, no, no, Let's go back to the
real world here. So this is why we follow global liquidity.

(05:49):
We use the charts, we use unchained data as well.
So I hope you appreciate that I'm giving you multiple
views here. So the other factor is, guys, what we've
seen in bull market is that gold has been another
leading indicator, and you have rotation from gold to stocks
in bitcoin and crypto of course, now gold is going parabolic.

(06:09):
Look at this chart. Now this is the monthly chart.
Let's go actually go to the daily I think that
would be more helpful if I get myself out of
the way here. And it is in a euphoria zone, folks,
I mean, this is wild. It is so overbought, you know,
it's RSI it's crazy. So I anticipate gold might top

(06:30):
out sometime soon. The exact price, I don't know. I
don't have a crystal ball because this thing is going
crazy right now. But like I said, guys, throughout this
bull market, we've seen the rotational liquidity, So I think
gold is gonna top out at some point and then
we're going to have the rotation over to the other assets. Now,
this is part of my macro thesis that we're in

(06:51):
a macro bull market for all assets, and that includes
precious metals, real estate, crypto, and stocks. Prove me wrong, right,
That's what's been happening over the past two years, driven
by global liquidity, So there's some rotation. Each asset class
has its day in the sun. So I'm anticipating some
sort of blow offtop for goal soon. What's interesting there

(07:13):
are videos and images circulating on the web of people
lining up in different countries to get gold, and it's
kind of like the retail normy crowd right, the dumb
money crowd buying at the top, and this is what
we've seen for crypto and stocks and so forth. So
they're doing it for goal. Then I get why. But unfortunately,
wrong time to be buying, wrong time to be buying.

(07:36):
And look, look, I'm not saying they can't make money.
And if they're holding for the long term, I think
they'll be fine. But if you're buying, you know at
these levels, it's not good. You guys know what I mean.
But guys, my thesis once again, we're still in the
macro bull market for all assets, goals still being a
leading indicator global liquidity. I think as goaltop style rotation

(07:59):
took crypto and stocks, and I think the FED, sooner
than later, is going to return to quantitative easing. Let's
see how all these things play out. If you disagree
with me, let me know why. I'm open to feedback.
I'm open to a conversation. I've often told you, guys,
don't follow me like a cult, right, listen to different
point of views. And this is my POV from my

(08:20):
research from being here from multiple cycles and looking at
not just charts but on chain data and the macro. Now,
look at this bullish news. Guys, I'm sure many of
you saw this. Blackrock is getting into the stable coin markets,
so we got some very interesting news. Let me actually
give you the detail some coin Telegraph because CNBC wants
me to pay, which is annoying. The headline reads, Blackrock

(08:43):
takes a piece of booming stable coin market with redesigned fund,
so Larry Fink is not playing around the thirteen point
five trillion dollar asset. Managers said the revamped fund, called
the Blackrock Select Treasury Based Liquidity Fund BST, will help
manage reserves for companies behind US dollar PEG stable coins,

(09:05):
offering them a safe place to park customer funds. Blackrock
noted that the offering aligns with the Genius Act, a
law signed by President Donald Trump earlier this year that
created the first US regulatory framework for stable coins. The
new rules outline how issuers must hold it and invest
their reserves, which BlackRock's new fund aims to comply with. So, folks,

(09:27):
we know Blackrock has been custoding reserves for Circle, which
is the issue of USDC. Blackrock is tokenizing. They have
their tokenized point called Battle. They obviously have their ETFs
for Bitcoin in etherorem Larry Fink is on TV a
lot lately. He was on sixty Minutes then CNBC talking
about tokenization so great, people should invest in crypto. And
that's one of the reasons why I don't think the

(09:49):
top is in that he's doing it at this point
right that he's talking his bags. Why would you go
do that now if we're entering a bear market, This
doesn't make sense. This is a big move by Blackrock,
and of course they're going to continue to innovate. Guys.
This asset class is the future, This technology is the future.
They know it. And as I've been telling you guys,

(10:09):
I need to maybe trademark this term. I've been saying
the future economy, markets and governments will all run on
blockchain rails. That's what's coming. It's pretty incredible to see
all these things unfolding. Now here's some bullish news coming
out of California. California passes a law to enable the
state to custody bitcoin and digital assets. Dennis Porter of

(10:30):
the Satoci Action funds that the fourth largest economy in
the world will soon be holding bitcoin. This is incredibly bullish.
We know Dennis has been working with different states around
the country to establish a bitcoin reserve locally, of course,
and it will allow these states to add bitcoin and
crypto to their pension funds and much more so. Slowly

(10:51):
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in the description. Now, folks, this is Polish news, I

(13:02):
mean incredibly polish news. The people at the IMF who
have been criticizing El Salvador and talking bad about crypto
are now capitulating. The IMF director recently, speaking on stage,
urged countries to embrace crypto and they need to accept reality.
Let me play the clip for you, but generally you

(13:24):
tell them to embrace it.

Speaker 2 (13:27):
I'm telling countries accept reality. Fiat money is moving digital.
The developments in crypto, both unbacked and backed, they're happening
with exponential speed. So yeah, you can try to lock

(13:51):
your country away from this, good luck with it. So yes,
I'm telling my members understand it and then decide for
yourself how you're going to operate in this world. But
do not close your eyes to reality.

Speaker 1 (14:10):
Did you hear those statements? She said, Crypto is happening
at an exponential rate, So she said, if you try
to lock your country up against it, good luck, right,
So you need to embrace reality. And she said Fiat
currency is going digital. Now, many people out there will say,
my money's already digital, so it's on venmo a PayPal, right,

(14:30):
but it's not really digital, there's just a representation. It's
not instantly settled, it's not real time, it's not twenty
four to seven, which blockchain brings. That's why stable coins
are huge in banks and payment companies and credit card
companies are all adopting stable coins. But guys, man, what
a capitulation, What a signal? And if you once again
go back through history and see this woman's comments about

(14:53):
crypto and all that and all the negative stuff they said,
now they're ready to flip. Why you want to know
why the banks are here, their Wall Street banking buddies
are here. But for years they told retail this is
a scam, watch out for this, don't touch it right now,
accept reality. Right, So if you try to ban it,
you know, over the years, you guys know, I've said,

(15:15):
any country that tries to ban crypto and blockchain is
writing their economic death sentence because these are the rails
with how money and markets are going to function. Guys,
so incredible statements. Man, don't miss how bullishness is. I
think this honesty is one of those landmark moments. It's
a milestone the IMF. We're talking to the IMF. Look what

(15:37):
the director is saying. This is huge. These are the
people once again who have been spreading fud for years.
All right, moving ahead, guys, The Federal Reserves Payment Innovation
Conference hosting a lot of crypto companies. Guys, this is incredible.
So the Fed and you could go on their website.
They have the conference, the Payments Innovation Conference, on October

(16:01):
twenty first, twenty twenty five. That's next week, guys. If
you go and look at the list of people who
will be here, Sergei Nazarov, co founder and CEO of Chainlink,
I mean, Michael Shaulov, I'm saying that right, CEO Fireblocks.
This is incredible. You've got a bunch of crypto companies.
You've got Charles Cascarilla of Paxo's I've interviewed him, right.

(16:23):
You got Fernando Terreor's excuse me, Heath Turbert, president at Circle.
You got Kathy Wood from Arkanvas. You got Alessi Ajas
of Coinbase. This is a Federal Reserve Payments conference, and
you got crypto people here. How times have changed? Man?
Can you imagine this happening in twenty sixteen or twenty seventeen.

(16:45):
I was here, No way, Jose, that was happening right,
It's incredible. I mean I'm blown away, guys, this is
another incredible moment. But again, where is it all heading?
Everything running on blocked in rails. So Macro from the
macro V I hope you're bullish. I hope the short
term price movements are not making you lose hope and

(17:08):
getting depressed and panic selling and so forth, because there's
more to go here. Now here's a great example. We
got former CEO of TDAM Error Trade, Joe Maglia. He
was on CNBC this week and he says, five years
from now, there's not going to be a stock option,
mutual fund or ETF that's not in effect tokenized. Everybody

(17:30):
on Wall Street is looking to tokenize because they know
what that means, guys, more capital coming in from across
the globe. Twenty four to seven instant settlement, so they
save on fees and they get more liquidity coming from
across the globe. That's why there's a big push here,
and the SEC is on board. So SEC Chair Paul
Atkins charged pro innovation path for crypto and tokenization regulation.

(17:53):
We've been seeing a lot a lot of language coming
out from the SEC that they want to get this done.
Here's some details. Crypto and tokenization are job one for
the SEC. SEC chair Paul Atkins said Wednesday at the
dc Fintech Week. Here's a quote. I'd like to say
that we're in the Securities and Innovation Commission, he added jokingly,

(18:15):
So Wall Street wants it. The SEC is on board,
you guys. It's foregone conclusion here. We know what's coming.
We got some big news some Ripple folks. They said
they are acquiring treasury management leader G Treasury. The fusion
of Ripple's enterprise crypto solutions with G Treasuries forty plus
years of expertise immediately opens up multi trillion dollar corporate

(18:39):
treasury market and G Treasury apparently works with different banks guys.
So Ripple kind of going into or going back to
their ethos of payments here because you know, some of
the benefits they highlighted is that this unlocks idle capital
tap into multi trillion dollar global repul market via prime
broker Hidden Road learning more on short term assets. So

(19:01):
of course Ripple acquired Hidden Road move money instantly enable
real time twenty four to seven three sixty five cross
border payments at competitive rates, building on Ripple's track record
of modernizing global payments. So man, Ripple's making huge moves.
You know, the XRP ledger and Ripple's stable coin is

(19:22):
going to be inserted right in different facets of these
money movements and so forth. Now will it be in
every facet, of course not, but certainly in a lot
of them. Now, speaking of stable coins, I'm sure many
of you saw, you know, I was supposed to interview
this week PayPal's head of crypto in fact, yes today
today actually, But unfortunately someone at Paxo screwed up where

(19:44):
they minted three hundred trillion pyusd. Oh that's brutal right.
I'm sure some of you saw that someone with fat fingers. Man,
they messed up really bad. I don't know if that
person got fired, but you know, yeah, this could happen
to the folk that Paxo says someone mistakenly minted the
excess pyusd for an internal transfer. I'm assuming they tried

(20:08):
to mint a three hundred million, but they end up
they added six extra zeros and it ended up being
three hundred trillion. But folks, here's the silver lining here, right,
This is obviously not good for Paxos and PYUSD. In
the short term, right, I think this is nothing honesty,
a not burger. But in the short term it got
a lot of people going nuts on social media. But guys,

(20:30):
because of blockchain tech, you and I, the public, were
able to see this. If this was happening at JP
Morgan or some other bank, right, and they're doing stuff
with money funny business, you can't see that. But because
of the blockchain technology, we all saw it, and we
all can identify something wrong as happening if the company

(20:50):
is doing something shady. And that's the great thing about
this technology. More trust, more transparency, and we can tell
if they said, hey, we burned it, right, we can
tell if they burned it because it's all on chain.
So that's the beautiful thing about this, folks, and why
it changes things, and it gives us a bit more power, right,
more power back to the people because we're able to
see all of these things. So obviously internal error. Obviously

(21:14):
these tokens were not released at a public so within
like thirty minutes they resolved that they burned the excess PYUSD.
But you know, pretty nuts, right, stay for a short
period of time, PYUSD had more money than the entire world,
and it became it was the largest stable coined, of course,
but due to an error. But again I look at

(21:37):
it as from the benefits standpoint and a positives like
because I was able to see this before even Paxos
anybody said anything. Everybody was sharing it like, hey, what
the hell just happened here? Right, We're able to see
this for circles, USDC, each Teather and much more. That's
that's the beauty of blockchain, folks, that's the news. Let
me know what you think. Let me know if you

(21:58):
agree with my bullmarket, he says, if we are still
in a bullmarket, or you think the top is in
and we're now in a bear market, right, because if
the top is in, that means we're in a bear market.
So you gotta let me know. And guys, no silly stuff,
no sentiment, Just say be respectful, right, Let's all be respectful.
And if you have certain data points, you can post
them for sure. I'll check out the comments. Let me

(22:19):
know what you think. Guys. If you appreciated this content,
please subscribe to my free email newsletter. It is one
hundred percent free on Substack. Check out the link in
the description and check out my book on Amazon. It's
available in paperback, in digital, and my course at mycryptocourse
dot com. This is a comprehensive course that teaches you
everything about crypto, so if you'd like to learn more,

(22:41):
check out mycrypto course dot com. Folks, thank you so
much for watching and listening. I appreciate you all, and
I'll talk to you all later

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