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1553: “Bitcoin to $500,000 Is ‘EASY’ If Strategic BTC Reserve Happens”
00:37:00
Matt Hougan, Chief Investment Officer at Bitwise Asset Management forecast hinges on the potential establishment of a US Strategic Bitcoin Reserve (SBR).
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- [00:01]
JV
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- [00:30]
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- [00:47]
JV
1 Daily Bitcoin Pod. In today's show, I'll be breaking down the latest Bitcoin technical analysis. Bitcoin reclaims 100 GS like it ain't no thing. Also breaking news, publicly traded Mara buys 15,570 for Bitcoin for an additional $1.53 billion. And also the Dutch government urges to establish a national Bitcoin reserve and an open letter. I'll be breaking this down for you as well as Hut 8 surpasses $1 billion in Bitcoin holdings after a 100 million dollar acquisition. Also the latest from El Salvador making Bitcoin payments voluntary according to this headline, but I'm going to read through the fud. I got the insider scoop for you as they locked down the 1.4 billion do IMF loan deal. Also be giving you the insights from Stacy Herbert and Max Kaiser. Of course, we'll also be discussing Bitcoin bull Mikey Sailor willing to advise President Elect Trump on crypto. Mikey Sailor in the building. We'll also be discussing Rich Dad Robert Kiyosaki says Bitcoin at 350,000 by next year. We'll also be discussing a U S Strategic Bitcoin reserve, pushing the bitcoin price to 500,000 per coin easily according to the bit YCIO. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good Crypto fam. This is first and foremost a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewealerts.net Again, that's crypto News Alerts. Net. And if you're new to the channel, important to smash the likes. Then hit the bell icon and subscribe. This is the number one daily Bitcoin pod hands down. Today is December 19th, 2024 pod episode number 1553. I'm your host JV. Bitcoin did correct back sub 100,000 yesterday. This morning we were back above 102 at the time of the live stream we're still sitting above 100,600. But yeah you can see Bitcoin, E, Ether, XRP, all the major alts currently correcting and in the red and checking out coinmarketcap.com we currently. Let's get a refresh on here. We're currently sitting at three and a half trillion. As far as the market cap we did hit an all time high. The day we hit, you know, current price discovery just above 182. We have 263 billion worth of volume past 24 hours the Bitcoin market cap is back under 2 trillion. The all time high we hit the other day. Bitcoin dominance back in the rise as you can see 57.1% with the ether dominance at 12 and a half percent. And checking out top 100 crypto gainers past 24 hours we got movement BGB and mantle. Let me know which Altifani you're most bullish on for the bull. And checking out the crypto bubbles we get a visual perspective on the day eight. You just see Rec city across the board but zooming out on the monthly y'all must have forgot everything is in the green. Some of these cryptos up over 100 multiple hundreds of percent. And checking out the cryptogreed and fair index Yesterday was an 81. Today we're down to 75. Greed last week in 83 and last month a 90 in extreme greed. And checking out the time chain Calendar we have 174,555 blocks until the next having in 2028. We're currently on block height number 875 445. You currently exchange one fiat monopoly dollar for 982 sats. So stack them sats and you know the rest. Lots to share. So no time to waste. Let's dive into Today's technical analysis aka astrology for the Brosis. Bitcoin reclaims 100,000. But the weekly charts form in the bearish engulfing candlestick. No, that's right. Rec Capital said there are still a few days until the end of the week to fully confirm the downtrend and lots can change in the meantime. Technically this is still a dip until the weekly levels are confirmed as lost between 2 and 3am Dec. 19. Bitcoin dip below 100 GS for the first time since Dec. 13, hitting a low of 99,000. Oh my God. End of the world. It came of the broader market sell off after the US Fed announced the 25 basis point rate cut and signaled fewer rate cuts than initially plan may take place for 2025. For some traders, the bitcoin price dip caused little concern. This pullback is pretty normal for bitcoin, said the Bitcoin archive. Spot on. And if you're selling your bitcoin in reaction to what the Fed said today, you have no idea what you own. Good point. Because all the Fed said was someone asked them about like bitcoin and then J pal's like no, we're not allowed to buy bitcoin here at the Fed. It's like come on now. This came just two weeks after Bitcoin broke through a hundred thousand for the first time on December 4, mainly driven by the Bitcoin ETF demand and since the April Trump pump from the election win now still, it was only November 5th. Bitcoin surpassed the previous all time high.
- [05:48]
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- [06:12]
JV
Live of 73 set in March. Rex said volatility comes naturally when entering price discovery. Quoting them here. Technically it is week seven in price discovery, which historically means bitcoin corrections occur around this time. While many crypto speculators often see steep drops and this is a flash crash, Re said it may go on for at least another week. We know that week seven and eight and price discovery have historically been corrective weeks. And in breaking news, publicly traded Mera buys another 15,574 Bitcoin for $1.53 billion and the Dutch government urges to establish a national bitcoin reserve. And an open letter, the writer proposed that the Netherlands acquire bitcoin through the Ministry of Finance by sell, selling a portion of their current gold reserves, launching the speculative attack against gold and central banks. Let's freaking go. So you already know Game Theory in full effect and checking out the live charts. Give me a second to switch up the scene for you guys here. Should be able to see here on your screen. But yeah, right here you're looking at the one hour chart via Coinbase via Trading View. You can see the correction clearly on your screen. And zooming out from the hourly take quick look at a four hour and as you can see a big red corrective. But we do still have a rising wedgie though. We're currently correcting and zooming out from the four hour. We check out the one day and you can see the big red candle we had yesterday. Still though, a clear rising wedge formation. The more you zoom out, the more bullish this is all going to look. I mean let's zoom out again for the weekly as you can see here, 1, 2, 3, 4, 5, 6, 7 green consecutive weekly candle closes including the highest weekly close of all time which we had on Sunday. We still have a cup and handle target of 124,000 in play here for Q4. So yeah, I mean and zooming out a little further, check out the one month. We still got a week and a half left for, you know, for the end of 2024 before we put a bow on it. And you can see the big green candle from Moonvember. I still think we have a lot of bullishness here in our next leg up, but let me know your thoughts. Where do you feel the bitcoin price action will likely take us as far as the cycle peak is concerned for this year in particular, here's another breaking story. Hut 8 surpasses 1 billion in Bitcoin holdings welcome to the billion dollar biddy club after a new 100 million acquisition. That's right, Hut 8, one of North America's largest bitcoin miners, has announced a 100 million purchase of Bitcoin, increasing its holdings to over $1 billion pretty late. The company announced December 19 it acquired 990 Bitcoin for approximately 100 million at an average cost of 1, 710 per coin, according to the press release. The purchase aligns with Hut 8's strategy of combining low cost bitcoin production with optimistic markup buys to maximize returns and establish Bitcoin as a reserve asset. The expansion of Hut 8's Bitcoin reserve continues a growing trend amongst institutions as the options to include a bitcoin as a strategic financial portfolio asset become more attractive, particularly as the US Prepares for a pro crypto Trump administration. Speaking about the Bitcoin acquisition, Hut 8 said the acquisition would help support its plan fleet upgrade, enabling the bitcoin mining company to expand its mining capabilities through a financial model that leverages its digital asset reserve. The 100 million acquisition brings the firm's Bitcoin holdings up to 10,096 BTC and it realized average price at 24, 400 comprising its mind and purchase holdings that you can see right here now. Strategic reserve management Hut 8 CEO Asher said the company's strategic Bitcoin reserve is a key component of his treasury strategy and aligns with its capital and operating strategies, quoting them here. As we scale operations and extend our cost advantage in Bitcoin production, we anticipate that the flywheel effect will enable us to grow our holdings organically at a significant discount to the market price. This latest announcement aligns with the company's goal to raise up to 500 million to buy Bitcoin as a strategic reserve asset, which is furthered in a recent 250 million stock repurchases purchase and share sale program. On December 2, Hut 8 filed the motion to dismiss a class action lawsuit from his shareholders alleging it was spurred by a short seller report that established a campaign to sink Hut Eights stock for its own gain. The firm said the case arose from a short seller, J Capital Research, attempting to obtain a monetary gain on its short position and hut 8 at the expense of ordinary shareholders. The lawsuit stems from the January report by Capital J research, which accused Hut8 of overstating the profitability, its acquisition of the US Bitcoin Corp. And concealing operational issues at a Texas facility. So there you have it, yo. The miners are bullish, as you already know. Marathon Riot Hut 8 this episode is.
- [11:16]
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- [11:42]
JV
Y'all stacking thy bitty like there ain't no thing. El Salvador is in the headlines. And I did reach out to Sergio, who is from El Salvador, to get some clarity on what's fud, what's not fud, and deciphering the FUD because you already know. And I got some insights from Max and Stacy as well. So first and foremost I'm going to read you the article as it was published and then I'll interject my perspective and point out some flaws and then I'll give you the feedback from Max and Stacy just to keep it one hun with you guys today and I'll be in El Salvador next month along Chandy 10 Music. We're going to be documenting our journey out there, so really looking forward to that at the Max and Stacy Invitational. So shout out to Max and Stacey and Stacy. The headline here reads El Salvador makes Bitcoin payments voluntary and 1.4 billion IMF loan deal and again, just stick with me here. I'm going to read the article as it's published and then I'll add my insights based upon what I know and try to decipher the fud. El Salvador is set to make merchant acceptance of Bitcoin voluntary, unwind its involvement in its little use Shivo wallet and make public sector engagement of Bitcoin related economic activity confined as part of a $1.4 billion lo with the IMF. The Central American nation will get 1.4 billion from the IMF over the next 40 months after agreeing to measures aimed at dropping the debt to GDP ratio, the global lender said in a December 18 statement quoting them here. The potential risk of the Bitcoin project will be diminished significantly in line with fund policies. Legal reforms will make acceptance of Bitcoin by the private sector voluntary and this is according to the imf. Just keep that in mind. I'm quoting them right now for the public sector engagement and Bitcoin related economic activities and transactions in and purchases of Bitcoin will be confined. IMF also said taxes will be paid in US Dollars, the country's official currency, and government involvement in the state backed crypto Shivo Wallet will be gradually unwound and let me explain why they're doing that and let me explain why all this is going on, but I'm just going to complete the story. El Salvador began buying Bitcoin in 2021, with's National Bitcoin Offices tracker showing it currently holds almost 6,000 Bitcoin worth 602 million. A National Bitcoin office spokesperson shared the country will keep accumulating bitcoin. Well of course we will keep buying one bitcoin a day, likely even more in the future, and we will not sell any of our current holdings, said the spokesperson. The plans for the Bitcoin office remain the same as Bitcoin continues to be our main strategy. The agreement still needs the IMF Executive Board's approval, but it marks the end of four years of negotiations that featured President Bukele's adoption of Bitcoin as a legal tender in June of 2021, making it the first country of the world to do so. So El Salvador will forever be bitcoin country. The IMF has long called on Bukele to drop its Bitcoin plans, saying that the speculative nature of the crypto could put the country at risk. The agreement will also see additional loans from other global banks, including the World bank for a total financing deal, a 3.5 billion in. So that's what they're borrowing. And in reaction to the IMF announcement, Bukele's bitcoin advisor Max Kaiser said, nobody pays attention to these and I'll, I'll show you the tweet here in a moment. Bitcoin use in El Salvador was always voluntary and its usage has never been higher and continues to grow. Preach, Max. The IMF's point is dead on arrival, he says. However, an October survey of Salvadorans found 92 don't make transactions using Bitcoin. I'll explain why. This is an increase from a 2023 survey. They found 88 didn't use Bitcoin for trans transactions. So first let me read the tweets from Max and Stacy and then I'll provide some insights I gathered from Sergio this morning to correct some of the misinterpretations of the article. So Stacy wrote, El Salvador secures a 3.5 billion dollar funding deal. Bitcoin remains legal tender. There's the highlights. El Salvador will continue buying Bitcoin at possibly an accelerated pace for the strategic Bitcoin reserve. Capital markets will continue to be built. For example, the recent tokenized issuance of US Treasuries on liquidity. And so much more to be announced soon regarding capital markets of Bitcoin. The Bitcoin office will continue building Bitcoin policies and road maps, attracting investors and building educational programs including the new gra grades 2 and 3 little huddler bitcoin and money workbooks for January 2025 Cubo plus continues educating elite Bitcoin and lightning dev Talent talent in El Salvador. Another group of more than 20 students that will graduate at the end of January of 2025 me Premier Bitcoin and Node Nation continue being taught in high schools across el Salvador and ESIAP countries. With his Bitcoin certification program of 80000 civil servants and the Chivo wallet will be sold or wound down. But many private sector bitcoin wallets will continue in El Salvador and this is just the beginning. So I like to point out there and I got clarification from Sergio Shivo Wallet is not government. It is A private sector wallet the government use. And apparently it's a terrible wallet and it's not even recommended by the local people. However, there's a ton of alternatives. Sergio told me a lot of the local people are using Strike or many of the other alternatives. So Shivo Wallet is being wound down for that reason. It sucks. And there's other more superior options. So that's not because what the IMF is doing. It's just they have no plans to continue to continue to update it and keep it because no one likes it. That's my understanding of it. So they're doing away with the Shiva wallet. And there's plenty of other alternatives they're going to, they already have that you can start using today, such as Strike, you know, Jack Mueller's company, etc. Etc. Yeah, I mean, and let me read Max Kaiser's tweet here. He says, says the source, the IMF News is considering a strategic Bitcoin reserve Treasury strategy for itself. Bilking the poor nations and buying Bitcoin. Nations need to do what El Salvador was the first to do, implement a sovereign Bitcoin reserve strategy to protect against the IMF thieves. And here's the insights I gathered from Sergio. Bukele is a very smart man. He's playing chess out here and the tables have turned. It's not the IMF telling El Salvador what to do. The tone has changed. They're politely asking, they want to do business some way somehow. So Bukele is ultimately saying, okay, we'll take that loan and, you know, we'll play ball. And my understanding is what would they likely do with the loan? I like to believe he's just going to buy Bitcoin with it and make their people more wealthy and make their nation even wealthier. But a lot of fudge in the interpretation of that article because it's thinking like, oh, the IMF won. The IMF is now telling Bukele what to do. That's not it whatsoever. So it's kind of like a win win from my understanding of it. And it doesn't change anything. And I also understand that people in El Salvador, as business owners, they have the right to choose Bitcoin, tether, USDT or US Dollar because they're all legal tender. So no one's being forced to use Bitcoin. And also, who wants to use Bitcoin to pay their taxes? My understanding is nobody because Bitcoin goes up forever. You use your petty cash, which is fiat monopoly money, to pay your taxes. So not really much has changed. It's just an opportunity for El Salvador to establish themselves, you know, even more so on a world scale. So that's my understanding of it. Hopefully that all makes sense to you. Next story of the day let's discuss Sailor and Trump Headline reads Bitcoin Bull Mikey Sailor willing to advise President Elect Trump on Crypto that's right. Michael Saylor, who is the co founder and chairman of MicroStrategy, expresses the desire to enhance intelligent leverage for the company shareholders as it continues its strategy of investing heavily in the market's leading crypto. That's right. In a recent interview with Bloomberg, Sailor highlighted MicroStrategy whole $7.2 billion of convertible securities with approximately $4 billion effectively acting as equity due to their trading conditions. He noted they are trading with a Delta of approximately 100 looking like equity, indicating a strong correlation between the convertible bonds and the company's stock performance. Michael Micro Strategy has emerged as a significant player in the crypto landscape this year, actively pursuing a bold plan to raise $42 billion exclusively for the acquisition of Bitcoin. The company shares have surged nearly 500 this year, significantly outpacing Bitcoin's own 150 rise during the same period attributed to firm's routine announcement of the multi billion dollar Bitcoin purchases which have taken place every Monday for the past six weeks and will likely to continue. Such activities have not only driven up MicroStrategy stock price, but have raised questions regarding the long term sustainability of this aggressive investment strategy. Let me know how many of you have any, you know what I mean. MicroStrategy stock I'm curious. The firm's fixed income securities have attracted attention from hedge fund seeking convertible arbitrage opportunities, a strategy that involves buying the bonds while short selling the underlying shares. This Demand has facilitated MicroStrategy's issuance of 6.2 billion in convertibles this year, further bolstering its financing capabilities despite concerns about the viability of the investment. Michael Strategy. That's the nickname for the company I threw in there. Market cap has soared past 90 billion, leading to its inclusion in the Nasdaq 100 index at the end of Friday trading. This milestone can trigger over 2 billion in shares purchase from funds that track the tech benchmark index, according to the estimates from Bloomberg Intelligence. Now regarding the role in a related note, Sailor revealed during an interview that he has been actively engaging with members of the Trump administration. He also says he's been close friends with the Trump family for over 20 years, signaling his willingness to contribute to Discussions on constructive digital asset policies. Sailor stated he would be open to serving on the Advisory Council for Digital Assets. I mean take advantage of that. Trump, if you're listening. Called upon the Trump recent appointment of David Sachs, the former PayPal exec, as a first ever White House AI and crypto czar. And as reported by Bitcoinist, the role is designed to oversee the development of government policies concerning artificial intelligence and crypto. A move that aligns with the Trump campaign promise to reform U.S. crypto regulations and foster an environment conducive of industry growth. There's also rumors that that Trump may make crypto basically in America. Zero capital gains tax in the cryptos from America, which would be game changer as well. But right now that's speculation. I'll let you know if that ever comes to fruition. Obviously, Sachs will be tasked with creating the legal framework to provide the clarity of the crypto industry has long sought enabling it to flourish within the U.S. trump remarked he will work on a legal framework on the crypto industry getting the clarity it has been asking for and can thrive in the US and the other day I shared that it was brought forth the strategic bitcoin reserve bill. So all Trump needs to do when he gets into office is put his pretty little signature on that strategic reserve bill and game on the the bitcoin race. The global hash wars will commence with I mean El Salvador obviously first movers advantage. But there ain't no place like the United States of America as far as as the influence it has over the rest of the countries around the world. So it kind of forces everyone else to accumulate bitcoin as well. And that's the game theory we've been preaching. So next story we're going to be discussing a 350000 target. Then we'll be discussing a 500000 easy target with Trump establishing a United States strategic bitcoin reserve. And then we'll do a little bit of some Q A. But again welcome everyone just joining us here today live. So yeah, shout out rich dad Robert Kiyosaki. He says Bitcoin at 350000 next year and urgent call for crypto investors. So yeah, this is his actual tweet. Yay. Bitcoin holding above 106. Yay. Again the famous author explained that the rich continue to accumulate wealth but few individuals, likely fewer than 1 in 8 million, can afford to write $160,000 check. However, this does not mean only those with significant cash reserves will benefit as the Bitcoin value rises emphasizing the accessibility of bitcoin despite its soaring price. Quoting them here that is the genius of bitcoin. Even if all a person can afford is 1/2 of Satoshi which is currently you get basically roughly 850sats per dollar right now. Allowing even people who cannot write 106,000 check the same equal opportunity to get richer and r future as those who can write $106,000 checks. And he makes a good point. One Bitcoin is can be divided by 100 million Satoshi is the same way US$1 divided by 100 pennies. So you can literally purchase $5 worth of Bitcoin a day. A dollar a day, whatever it is, a hundred dollars a month no matter the price. There's no excuse to not stack the bitcoin. The best selling author advocates investing in assets like bitcoin citing distrust of fiat currency, the U S government and the dollar. He supports even small investments into bitcoin satoshi inclusive design and potential to help people build wealth. Urging his followers to act swiftly. Quoting him here do not wait and delay. Start getting richer today. At least start buying some stats. Everyone here can become a satoshi millionaire for approximately $11,000. Just FYI I think that should be everyone's goal. Minimal ASAT, short for Satoshi is the smallest unit of the bitcoin named after the bitcoin synonymous creator satoshi. One satoshi again one bitcoin can be divided by 100 million satoshi and by the time it's a dollar per sat you're talking 100 million dol bitcoin price. Kiyosaki also linked his outlook on bitcoin to the broader political developments. Praising Trump as the first bitcoin president he shared predicting the price of bitcoin will soar to 350 next year. He shared it here Bitcoin to 350 in 2025 own more Bitcoin in 2025. Trump's recent advocacy for the blockchain tech and his appointments for the new US Sec Goodbye Gary and the crypto czar have further fueled the optimism within the crypto community. Precisely. The entire US government just flipped bullish on bitcoin from being anti bitcoin and the war on crypt led by Biden administration Senator Warren, Jana Yellen, Gary Gensler and the rest of the clown world, they're out. They're all being replaced with pro bitcoin advocates. So you already know strategic bitcoin reserve in play and shout out RFK Jr. He says the U. S should stockpile 4 million bitcoins. Start buying. Start buying 400 bitcoin per day, every day until you got 4 million. I think Trump should stick to that. Or do the Michael Saylor strategy and just trade all the gold, the worthless gold for bitcoin. Demonetize the gold around the world and make the United States a superpower. Make the United States have more bitcoin than Satoshi at 1.1 million. Don't let Blackrock and Michael Saylor make you look bad, Trump. You either go big or go home. You're the one always saying huge. You, you go huge or you go home, Trump. And if you want to go huge, buy 10 million bitcoins. Not going to be easy. You may have to get it at a premium. But whatever it takes, takes, Mr. Trumpster. But anyways, I know Trump watches the podcast, so. And that's my message to Trump today. All right now for our feature story of the day. U. S Strategic bitcoin reserve could push the Bitcoin price to 500000 per coin. Easy peasy according to the Bitwise CIO. This man right here, Matthew Hoogan. I hope it's pronounced Hoogan because I've been saying it wrong for six years if it's not so. But anyways. In an interview with Yahoo, Hoogan of the Bitwise Eyes CIO shared his bullish outlook on bitcoin projecting significant price appreciation by the end of 2025. Quitting them here. We expect bitcoin to be up and above 200,000 by the this time next year. Attributing the forecast of three primary sources of demand, the Bitcoin ETFs, the corporate investments and the governmental acquisitions. He elaborate elaborated. There are ETFs that are vacuuming up the bitcoin public. Companies like Micro Strategy are accumulating bitcoin and now we're seeing seeing discussions about Gunmans investing in the bitty. It ultimately boils down to supply and demand. There's too much demand, not enough supply, which drives the price higher. And when probed about the sustainability of such demand. Who can emphasize gradual awakening of different investor segments to Bitcoin's value proposition? Quoting them here. People just wake up to Bitcoin at different paces. We have seen retail investors engage first followed by companies and financial advisers. And now institutions are recognizing the Bitcoin belongs in a diversified portfolio. Bitcoin is now a global macro asset worth a few trillion. That's right. And virtually every investor should have some exposure. We still have a large number of investors to go, which is why I believe we're still early in this journey. We have many quarters to go. A pivotal aspect of Hugin's forecast hinges on the potential of establishment of the U S Strategic Bitcoin reserve. Addressing this, he remarked, if we do get a strategic Bitcoin reserve when the government is buying Bitcoin, as proposed in Senator Lummis's bill, for the government to purchase a million bitcoin, two hundred thousand dollar bitcoin is going to look quaint. You're going to be looking at 3, 4, 500 thousand dollar Bitcoin. It's just too big a story because governments all around the world would have to do it. That's right. This is the game theory. This is the global hash wars. Hugin admitted that he first was skeptical about Trump suggesting to establish strategic Bitcoin reserve, but over the months it hasn't gone away. In fact, we continue to see leaders in the Trump administration, including his own sons, suggest they are open to it and doing it. He remarked, The Bitcoin CIO still thinks that the odds of the US government buying Bitcoin is less than 50%, but it's not zero. He added, if it happens or if we start to see it happening in other countries, you're going to see a rip up in bitcoin that will make 2024 look pretty docile in comparison person. Thus what's up? He also highlighted the role of the institutional platform, specifically citing Coinbase as potential major beneficiary in the evolving crypto landscape. Coinbase is currently about half the size of Charles Schwab and we believe it could surpass Schwab in brokerage size. Coinbase hasn't had major competitors bubbling up to challenge it. It sort of had a degree of regulatory capture if you can believe it and as a result it has been able to sustain high margins and brokerages. Yeah, you got to also consider fans spam that they're the largest custodian in the world. So Coinbase controls more Bitcoin than anyone else because they hold black rocks 500,000 bitcoin. Most all the asset managers except Fidelity is even self custodying their bitcoin. It's mostly Coinbase so you already know and they have Coinbase prime account where they encourage companies you know trust to put their Bitcoin on the balance sheet and they can custody it's with Coinbase. So not your keys, not your coins. Theoretically, not only do the investors of IBIT, BlackRock's largest ETF not hold any Bitcoin, Blackrock doesn't even hold any bitcoin. Not your keys, not your coins. You want to look at it that way, right? Coinbase holds the Bitcoin and that's how it works. And there is a difference. I just want to clarify. There's a difference between self custodying your own Bitcoin and having bitcoin exposure through an etf. All Bitcoin etf, BTC can be confiscated by the US Government. That's just a fact, Jack. All it would have to be is like the Biden administration writing an executive order that Bitcoin is a direct threat to our national security and therefore we're. We're confiscating all the Bitcoin. They did it with gold in 1933 via the Gold Seizure Act. So trust nobody, verify everything. Learn how to properly self custody to secure your Bitcoin. Because only properly self custody, custody, bitcoin and your own private wallet cannot be confiscated. Keep that in mind and don't put nothing past the lizard folk. And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in our live Q A. And I look forward to seeing you on tomorrow's episode. Hoddle.