US Treasury Secretary Bullish Bitcoin Statements! XRP ETFs Get Updated!

Episode Transcript
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Speaker 1 (00:05):
Hey, folks, welcome into the Thinking Crypto podcast. I'm your host,
Tony Edward. On your way in a Please let that
subscribe button as well as the thumbs up 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, we are still waiting for
this market to find its bottom. Bitcoin currently trading just

(00:25):
over one hundred and nine thousand dollars. The chop continues,
the pain continues, right. I know it's boring, I know
it sucks. I know it feels like this bull market
has lost its steam, but all the structures are still
in place with the macro bull market. Because if you're
looking at the hourly and the daily and even the weekly,
you're going to see a lot of bearish things. But

(00:46):
from the monthly and just the higher time frames, guys,
everything is still intact. There has been no invalidation, and
if there was, I'll be on here telling you this
time is different. It's over. Pack it up. I don't
know what happens next, but all the signals are there
for this continuation, such as global liquidity once again, the
moving averages, and the structures everything's still in place now,

(01:08):
there could still be some more downside for bitcoin, so
anticipate that, right that Bitcoin could go below one hundred
and six thousand or whatever it may be, test some
of those lows, and then rebound right back above the
two hundred day moving average, which is the bullmarket line
in the sand. And when you look at the chart,
and by the way, I love this chart shared by

(01:28):
the folks at Merlin Trader, you should check out their
YouTube channel. This looks very much like a bullish retest
like we've seen throughout the bull market, where we've had
some very volatile moments where bitcoin broke through that two
hundred day moving average. I mean, just look what happened
earlier this year with the tariff crash, right that was
pretty brutal, and this is not as brutal, But yet

(01:50):
the sentiment is so bad. And I think because of
the time the four year cycle, right, there's like a
psychological thing that's happening with a lot of people and
they haven't seen all coins really move yet. And because
we've seen that in the past, people are giving up hope.
But I want to let you know, don't give up.

(02:10):
We got to be non emotional here and look at
the data and much more so. Again, patience is a key.
We just got to let this thing play out, and
I do think we could see, you know, maybe the
first half of November be a little bit rough and
then things start picking up. But you know, I don't
have a crystal ball, but based on the data I'm
still bullish on the macro here now. In the short

(02:30):
term though, like I said, some more pain because Jim
Kramer today tweeted out very discouraging clothes. Got to wait
until Monday for a bounce. But what a month. Oh boy,
could we see black Monday? Right inverse Kramer. Guys, this guy,
I tell you, he's been on a rampage lately, and

(02:52):
I think he knows what's going on with the market
and he's just out there just going nuts. But guys,
look at this is bullish news. US Treasury Secretary Scott Besant,
he tweeted out today, seventeen years after the white paper,
the bitcoin network is still operational and more resilient than ever.
Bitcoin never shuts down. Senate Democrats could learn something from that.

(03:17):
Now you made it a bit political. Wait, guys, this
is the Treasury Secretary of the United States, and look
at what he's tweeting out. This is so bullish, man, incredible,
And you know, we got a lot of big things
on the horizon, like the Crypto market Structure bill, like
the all cointf approvals from the SEC, and we're going

(03:37):
to talk a bit about that later. Plus you get
crypto companies looking to go public in addition to traditional
tech companies like open Ai and much more looking to
go public. So no one goes public when the market
is topped and we're in a bear market, right, that's
what people are saying. The market is top, we're in
a bear market, no one goes and does an ipo
go public ry? Guys, I mean, put your thinking gap

(03:58):
on here. So this is very bullish. And one thing
you highlighted here is this is the seventeenth year anniversary
of the White Paper. So it's incredible how things have changed, right, folks.
At one point, all these folks in these roles were
attacking crypto. Now they're embracing it. Now. This episode is
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(04:20):
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go to vchain dot org. Lank will be in the description. Now, folks,
we continue to see updates to xrp ETF filings. Yesterday

(05:04):
we talked about Canary Funds updating their version, and here
we got news that bit wise they just updated their
x rp ETF filing to include exchange New York Stock
Exchange and a fee of zero point three four percent,
which are typically the last boxes to check Amendment number four.
This is per Eric Balachunis, senior ETF analysts at Bloomberg.

(05:26):
So I think it's clear and the writings on the
wall that the XRP ETFs are going to get approved,
and some people are saying this could happen in November,
so let's see what happens. I think it's not a
matter of if, it's just a matter of when. Because
we've got the government shutdown, there's there has been some
confusion as to what these filers can do, you know

(05:49):
with their SEC's recent updates, but the government shutdown doesn't help, right,
But nevertheless, it's coming, guys, you know, you know, the
US government's going to open up and they're going to
see he's gonna prove these ETPs. So this is very
big for XRP. There are also a bunch of other
ETFs for Salona, so I believe those are going to
get approved as well. We've been seeing a lot of

(06:10):
updates from the filers there, so this is another milestone
or landmark moment, which once again, are these things going
live in the bear market after the market is top?
Come on, guys, that would be a huge missed opportunity
by the whales and market makers, so again put your
thinking cap on there. Now, we got some interesting news

(06:33):
from Christine laguard of the European Central Bank, the ECB,
and I'm going to play the video for you, but
here's what they tweeted out with the video. The digital
Euro would complement banknotes and extend benefits of cash to
the digital sphere. This is important because eurocash brings us together.
Europeans would have the freedom to use digital Euro for

(06:55):
any digital payment online or offline throughout the Euro Area.
Let me play a clip for you.

Speaker 2 (07:01):
Hello, I have good news for you on the digital EuroFront.
Today the Governing Council has decided to move ahead on
the next and final phase of the preparatory work for
the digital Euro. The other good news is that on
October twenty third, the European Council has asked us and

(07:22):
all those involved to accelerate the process so that we
can roll out the digital Euro as early as possible.
This is important because as much as banknotes will continue
to circulate, we want cash to be in the form
of digital euro as well, so that you can circulate
banknotes and click cash with the digital Euro. More work

(07:48):
is going to be done in the next few months,
and if we receive the approval by the European Parliament
in the course of twenty six, we'll be able to
pilot the digital Euro as of twenty seven, and if
the pilot is conclusive and positive, it will be a
formal rollout in the whole of Europe in twenty twenty nine.

(08:08):
This is a big project because the Euro is our currency,
new currency, it brings us together, it's a symbol of
trust in our common destiny. So off we go with
the digital Euro in that next and final phase of
the preparation.

Speaker 1 (08:24):
So there you have it, folks. So they said the
pilot's going to start in twenty twenty seven and then
a form le rollout in twenty twenty nine. Now a
couple of takeaways here. One, this is definitely your CBDC
for at least Europe, so be careful of those of
you who live in Europe. I'm sure they're going to
monitor everything through this. And second, it's confirmation blockchain tech

(08:48):
is the future. It's what I've been saying, the governments,
the economies, and markets will all run on blockchain rails.
So bullish on one hand, but also you know, we
got to be vigilant. As I often state, I live
in the United States, so I know here they have
the anti CBDC Act in Europe. I don't know what
legislation's out there, so those of you who live in Europe,

(09:09):
this is something to watch closely. But at least we
have alternatives, right, you have bitcoin, yes, stable coins and
other things that you can move value if you don't
want to use the digital euro. Now, Caitlin Long's crypto bank,
Custodia Bank, loses appeal over the FED Master account. Now
this is not really a big issue because recently we
heard from one of the FED governors that they want

(09:31):
to do a master account light for crypto companies. So
I think it's kind of like a moot point that
it is God denied. But I think it's also clear
that the FED does not want to give crypto companies
the same level of access that they would give let's
say JP Morgan and the commercial banks, right, because it's

(09:52):
the banking cartel, they're not going to give away everything.
But over time, you know, crypto is going to win
and people are going to go wh or DeFi as
the infrastructure gets built out. But this is something you
should know about that this Unfortunately he did not get
the full master account, but I think they will get
the light account, which we recently heard about final lose item.

(10:13):
Canaan's japan deal marks the first state linked bitcoin mining
project in the country. So Canaan inked a deal on
Thursday to supply bitcoin mining rigs to a major Japanese
utility for a grid stability research project, making the country's
first publicly disclosed state linked mining initiative. Just the other

(10:33):
day we were talking about I forgot the exact news item,
but it was in a specific country that they were
going to look or the energy company was going to
look at using excess and wasted energy to mine bitcoin.
So this is something I've been talking about for a
long time. They're going to monetize the energy that's wasted
or it could be you know, or his excess. So

(10:54):
this is very big for bitcoin and it's happening across
the globe. So while Canaan did not identify the partner,
the move follows earlier reports that Tokyo Electric Power Company,
Japan's largest utility, had previously experimented with bitcoin mining through
a subsidiary using surplus renewable energy. Matthew siegeal van X,

(11:14):
head of Digital Assets, pointed out that all ten of
Japan's regional utilities have partial government ownership, meaning the new
project effectively brings bitcoin mining under state aligned infrastructure for
the first time in the country. Siegel noted that Canaan's
announcement adds Japan to our list of countries mining bitcoin

(11:35):
with government resources, bringing the total global count to eleven
excluding the United States. So, folks, you see the direction
to Puck's heading in here, This is why it's important
to hold some Bitcoin in your portfolio. Bitcoin is the
scarcest crypto asset in the market, and some people have
very ideological religious thoughts around these things. But I'm not

(12:00):
emotionally connected to these assets. I'm looking at the opportunities.
So even if you hold just a few hundred dollars
a Bitcoin, that's still better than having zeros. And what
we've seen so far in this bull market bitcoin we
know it leads the market. It leads the all coins.
It has hit new highs. Many all coins have not
is yet. So this is why it's important to diversify

(12:21):
and don't get caught up with conspiracy theories and feelings
and emotions and nonsense. Right, look at this, at how
can I preserve my wealth, my purchasing power to protect
myself against the basement of currency. So bitcoin is certainly
something you want to have in your portfolio, and you
don't have Once again, you don't have to hold an
entire bitcoin, just have some because over time, because of

(12:43):
its scarcity and what's being built around it, and you know,
governments and nation states buying it as reserve, mining it
and much more, it will accrue in value. So you
want to treat it as gold. You know, if you
have a gold bar, you know you're not walking around
with that gold bar. You're not necessarily looking to trade it.
You're holding it long term. And look, if you need
to buy a house or you have an emergency, you

(13:05):
have to liquid it. You do that, right, that's the point.
But you can hold on to this asset for a
long time and even if you don't use it, be
handed down to your children, your relative, whatever it is. Right,
So you want to treat bigcoin just like a real gold.
Obviously it has more properties and benefits than gold. But again,

(13:28):
make sure you have some bigcoin in your PORTFOLI. And
that's why I've told you guys many times on this podcast,
there's some bigcoin I'm never selling. It's going to go
to my daughter. It's on a hardware walllet, locked up
and secure in all that jazz. Is there someone selling
discycle of course, right, because I have plans to do
things with that money, not just to hold FIAT, but

(13:49):
I want to put that money to work in different
ways and better my life, pay off debt, help out family,
do upgrads to my house, things like that. Right, So
clearly the direction is countries are going to mine energy,
companies are going to mine as well, and the scarcity
for bitcoin is only going to increase with the amount
of buying receiving from Wall Street firms and much more. Anyway, folks,

(14:12):
that's the news. Let me know what you think. Leave
your thoughts and comments below hit the thumbs up button. Folks.
If you appreciate the content, please subscribe to my free
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Check out my book on Amazon. It's available in paperback,
in digital, and my course at mycryptocurse dot com. Folks,
thank you for tuning in. I appreciate you all, and
I'll talk to you all later.

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US Treasury Secretary Bullish Bitcoin Statements! XRP ETFs Get Updated!

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