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1844: “I’m Confident Bitcoin Is Going to Hit $1,000,000” - Eric Trump
00:34:21
Eric Trump, an American businessman, executive vice president of the Trump Organization and son of United States President-elect Donald Trump, predicted that Bitcoin will someday hit $1,000,000 per BTC.
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- [00:01]
Kraken Ad Voice
Imagine being the first person to ever send a payment over the Internet. New things can be scary and crypto is no different. It's new, but like the Internet, it's also revolutionary. Making your first crypto trade feels easy with 24. 7 support when you need it. Go to kraken.com and see what crypto can be. Not investment advice. Crypto trading involves risk of loss. Cryptocurrency services are provided to US and US territory customers by Payward Ventures, Inc. PVI DBA Kraken. Visit PVI's disclosures@kraken.com legal disclosures this episode.
- [00:32]
JV
Is brought to you by Amazon Prime. There's nothing sweeter than baking cookies during the holidays. With Prime. I get all my ingredients delivered right to my door, fast and free. No last minute store trips needed. And of course I blast my favorite holiday playlist on Amazon Music. It's the ultimate soundtrack for creating unforgettable memories. From streaming to shopping, it's on Prime. Visit Amazon.comprime to get more out of whatever you're into. Welcome Crypto Fam to the number one daily Bitcoin pod. I'll be providing all the necessary updates from the Abu Dhabi Bitcoin conference. Big news going down today, including publicly traded Marathon buys 11,774 Bitcoin for 1.1 billion and the most bullish price target I heard from the event is $400 million per coin. I'll be breaking that for you as well. Vancouver Mayor proposes Bitcoin Adoption to fight inflation we also have riot platforms stacking the bitty like it ain't no thing. CZ says it's inevitable for China to build a bitcoin reserve. Can you say game theory in full effect? We'll also be discussing Quant Analyst Plan B outlines Bitcoin December price target which will melt faces. We'll also be discussing eric Trump. President Trump's son predicts Bitcoin will hit $1 million. While he praises the scarcity, 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 cryptonews alerts.net Again, that's crypto News alerts. If you're new to the channel, very important to smash the likes. Go ahead and subscribe. Then hit the bell icon. Turn on all notifications. Receive daily premium of the news alerts every single day just like this. Today is Pod Episode 1800 44. I'm your host JV. It's December 10th, 2024. Big event going down right now in Abu Dhabi. Lots of news. Eric Trump calling for Bitcoin at 1 million. The Trump administration doubling down on these predictions. We have this dude just predicted $400,000. I'm sorry $400 million bitcoin by the year 2050. So h'll be thy name ladies and gents. But anyways let's kick it off with our market watch as we do each and every day. Let's check out coin360. Looks like nip Anator has given us the buy signal. Btfd. Stack them bitties. Just saying. You can see the entire market correcting. And in red bitcoin down a modest 3%. Ether down 7%. Cardano down 15%.down 17%. Just carnage across the markets. And checking out coinmarketcap.com the current crypto market cap sits at $3.36 trillion. How do you like that? And the bitcoin market cap is at 1.883,360,000,000 worth of volume past 24 hours. Meaning the volume is quite up. Up 62% of the day. Bitcoin DOM 56.2% with the Ether DOM 12.8%. Checking out top 100 crypto gainers past 24 hours. BGB mantra and Leo and virtually everything else. Correcting it in the red and getting wrecked and checking out the crypto bubbles. We get a visual perspective on the day. Every single thing virtually in the blood red. Not a good look. And zooming out on the monthly it flips virtually everything in the green. Still up several hundreds of percent. And checking out the crypto greed and fear index. We're currently rated at 78. Extreme greed same as yesterday. Last week at 76. And last month is 78. And extreme greed. And checking out the time chain Calendar we have 175886 blocks until the next having in 2028. We're currently on block number 874 114. You can currently exchange US$1 aka monopoly tulip mania for 1021 sets. So stack them sets and put away the gats. Peace and love. Bitcoin perpetuates peace and love. I bet you that Healthcare shooter was a fiat fiat stacker. I can pretty much almost guarantee you was not a bitcoiner. In fact I can almost guarantee you he was a no coiner. So watch out for those no coiners. Put the Gats down, pick up the SATs. That's all I gotta say. Let's dive into today's technical analysis, check out some of the live charts. Just what's crack a lacking in the crypto hood right now? Oh yeah, big news as well. Let me share this with you and we'll dive into the live charts. Tethers USDT Approved as Accepted Virtual Asset in Abu Dhabi that's right. The Abu Dhabi Global Markets Financial Services Regulatory Authority has officially recognized the Tether USDT stablecoin as an accepted virtual asset. Congratulations, Tether usdt. With the approval, licensed financial service providers within the ADGM can offer services related to the USDT to facilitate the integration into the regulated financial ecosystems. The recognition covers USDT issued on multiple blockchains, including Ether, Salana, Avalanche and alliance with the United Arab Emirates Strategy to become the Global Hub for the Digital finance Notice Everyone wants to become the digital hub for Bitcoin.
- [05:55]
Kraken Ad Voice
Imagine being the first person to ever send a payment over the Internet. New things can be scary and crypto is no different. It's new, but like the Internet, it's also revolutionary. Making your first crypto trade feels easy with 24. 7 support when you need it. Go to kraken.com and see what crypto can be. Not investment advice. Crypto trading involves risk of loss Cryptocurrency services are provided to US And US Territory customers by Payward Ventures Inc. PVI dba Kraken. Visit PVI's disclosures@kraken.com legal disclosures?
- [06:25]
JV
You damn straight. It's called game theory. It's called the hash wars. Game on With a market cap exceeded 138 billion, USDT's inclusion as the AVA strengthens its position as the largest stable coin in the sector by far. Now ADGM's decision reflects the increased role of stable coins, bridging the gap between traditional finance and the digital asset markets. And by integrating USDT into the framework, the ADGM could strengthen its position as a financial hub for innovation and support its own economic diversification in the uae. Although the stables have integrated with traditional finance to control regulatory actions, some regulators have raised concerns about the integration. And according to the United States Financial Services Oversight Council, stablecoins present risk to financial stability due to their lack of solid risk management standards. In line with the Council's perspective, Yada yada yada yada yada. Tether injects over 5 billion into the crypto market Bring it in November Tether went on a minting spree literally injected 5 billion into the market within 72 hours, spurring discussions about the influence of the crypto market. And according to spot on chain, a blockchain analytics platform detailed the timeline of the issuance events. The first 1 billion was minted on November 6, coincided with Bitcoin climbing to a record high of 762. And that was back in November. The current all time high clearly was reached on December 4 six days ago at 104, which is current price discovery. Gentlemen. The minting event launched tethers market cap to 124 billion early November soaring 232 billion by the 26th before finally landing at around 138 billion as of today December 10th. Let's freaking go. And some big news before I look into the live charts. Publicly traded marathon buys an additional 11774 Bitcoin for 1.1 billion. Micro strategies has made a multi billion dollar purchase which we covered in yesterday's pod. And also very bullish prediction. I want to share with you. There's the Trumpster right there. Eric Trump believes bitcoin will hit a million. Stick around folks. That's our feature story of the day. I actually want to share with you this guy. Holy moly. Mark Moss predicts one Bitcoin will be worth $400 million per coin by 2050. Here I thought I was bullish a few days ago. Now I realize I'm the perma bear with only a 1.1 million prediction. But then again this is by the year 2050. So it's actually very realistic in my humble opinion, especially with what we believe is going to happen with bitcoin conquering the world. So you already know. And let's pull up some of the live charts. Anything is possible. Bitcoin literally has no top. There's a $17 trillion gold market which bitcoin is demonetizing in real time right now. And then what happens when everyone trades their gold for bitcoin? Gold goes down. Bitcoin continues to moon as we've been doing for the past 16 year bull cycle. You feel me? Right now you're looking at the live chart via trading view via coinbase. A lot of targets you can see here. There's the one hour via Coinbase and we do have a 102,000 target which will take us close back to price discovery. So 102, let's go. And zooming out. We'll check out the four hour and we'll scale out from here. Fam. We also have a target on the 4 hour sitting pretty bullish pennant at 108,000 which will take us to price discovery 108 and play could happen any moment. You just never know. Pretty little bitty going up and checking out the one day. Obviously past couple of days have been corrective, but prior to that we were continuing to ascend. We did recapture 102 the other day and again we're currently sitting at around 95. A great BTFD opportunity to stack the SATs at a discount. Purchase some SATs for yourself for Christmas. Why not? And check it out, the one week we did just recently have the highest weekly close in bitcoin history since the inception of the Genesis block. And right now we have $124,000 bullish cup and handle target in play which will melt the faces of the bears. Did I say it was hunting season, fam? It's hunting season. And zooming out from the weekly I'm hunting wabbit. What would Elmer Fudd do? Hunt the rabbit. But anyways, we're hunting bears this season and as you can see, the Moonvember candle is so crazy how much we rose the biggest rise in bitcoin history in a single month. As far as fiat terms, we went up roughly 30,000, practically a thousand dollar gain per day on average, which is mind boggling. And y'all ain't seen nothing yet because a pretty little bitty going up Next Headline. Check this out. Vancouver for the Win Their Mayor proposes the Bitcoin adoption of ID Inflation Shout out to the Canadians, eh? Where's my Canada fam? Vancouver, Canada Mayor Chem Sim is O Ken Sim is urging the City Council to explore the integration of the Bitty into municipal financial strategies, emphasizing the crypto's potential to bolster financial stability amid the volatile fiat markets. And for the council meeting December 11 tomorrow, a divine day. On the 11th, Sim had prepared to introduce a motion titled Preserving of the City's Purchasing Power through the Diversification of Financial Reserves. Becoming a Bitcoin friendly city, he argued. The bitty has built a solid reputation over its 16 year history and could serve as a safeguard against inflation and currency devaluation. How many times did the lame stream announce the bitty dead? At least 10,000 times. But now they're coming around. Ironic, eh? The initiative aligns with Sims history of supporting the crypto adoption. Back in 2022, he accepted crypto donations during his mayoral campaign, signaling his openness to leveraging the digital assets for the public benefit. Additionally, he noted the several central state and city governments that have benefited from adopting the Bitty and other cryptos in various capacities. Examples included Zug and Lugano over in Switzerland, the South Korean capital Seoul and El Salvador, Pennsylvania and several African villages. Now, according to Sim, a recent inflationary pressures on centralized fiat systems negatively impact the city's purchasing power. He recommended diversifying the city's financial reserve to include the biddy and to make Vancouver a bitcoin friendly city. No Diddy. Sims suggested new financial strategies which include but are not limited to accepting taxes and fees in Bitcoin. He said owning the Bitty would preserve Vancouver's purchasing power and guard against the lizard folk. Okay, I added that part in. But a guard against the volatility caused by the lizard folk debasement and inflationary pressures of the traditional currencies. Sim also said that including Bitcoin and Vancouver's financial reserves and payment options would ultimately benefit the taxpayers by preserving the value and purchasing power of the precious tax dollars. Our tax dollars are so precious, gentlemen. Why are we always allowing our own government to money launder it to these foreign countries? Yeah, I mean what's really going on in the US right now? Makes you think, doesn't it? Sim requested. But anyways, we're talking Vancouver. Now Sim requested a report on the bitcoin friendly city strategy by the end of the first quarter of next year which would include the feasibility, risk and potential benefits of the option. The study will encompass, but not be limited to a review of the implications of the asset management and conversion, developing a comprehensive framework for the open bitcoin storage and liquidation of the involving of the wider crypto community when building the proposals. Vancouver, please stand up. So there you go. Where's my Canadians at? Make some noise, eh? Riot Platforms raises 500 million to buy the Bitty amid this price surge. That's right. Riot platforms propose raising 500 million which is a half a billy to buy more of the Bitty. The company may conduct the private bond issue for qualified institutional investors. We call this the sailor put. Its decision comes as bitcoin hovers around the all time high and other industry heavyweights have made large acquisitions at the top of the prices. Now Riot offers senior convertible notes through private offering me memorandums. Sounds very similar to MicroStrategy. Purchasers would have the option of buying 75 million more in notes within three days of their initial purchase. The offering will be subject to market conditions, it said, and no mention was made of the interest payments. The notes will be unsecured senior obligations with a 1-15-2030 maturity date and will be redeemed or converted into Riot common stock at the company's election. The conversion rate and other terms will be determined at the time of the pricing of the offering. Riot will use the funds to acquire additional bitty. And for the general corporate purposes, Riot held 10,427 bitty at the end of the third quarter of the year. After producing 1104 bitty that quarter and selling zero bitties, it produced 844 bitcoin in the previous quarter. Meanwhile, according to Minor magazine, even publicly traded bitcoin miners and data centers are not counting. Riot have issued convertible bonds since June to raise a total of 5.2 billion. Damn. And of that amount, 70% was raised in the last four weeks leading up to December 5th, as Sailor announced here. Riot is a company on the bitcoin standard. You damn right. And notable amongst those offerings was Core Scientific's 350 million issue in August, which was raised to 400 million the following day. Mera, formerly Marathon Digital, also issued 1 billion in convertible notes. They just made the 1.1 billion buy which we announced earlier and they now have 6,474 more Bitcoin and hold approximately 34,797. I believe they're the largest minor bitcoin hodler. And on December 9, which was yesterday, the same day of Riot's announcement, we had Micro Strategy said it acquired another 21,550 Bitcoin for 2.1 billion between December 2nd and the 8th, paying an average price of roughly 99, 000 per BTC. And speaking of 99, I got 99 problems, biddy ain't one hit me. And Michael Saylor in an interview recently said, I actually watched the interview. I'm sure I'll be buying Bitcoin at 1 million per coin, which we all know is inevitable. So there you go, crypto bros. This is big China. China to adopt the bitty. Not only that, but cz. Former Binance CEO. No longer the CEO but the founder and I believe the richest in crypto. On paper I think his net worth was once 40 billion, maybe 50 billion, and now that bitcoin's at an all time high, maybe close to 100 billion. I'm just speculating, but on paper he is the richest in crypto. He says it's inevitable for China to build a bitcoin reserve. And his blood is obviously China. He's a Chinaman. He's not from China, he's from Canada, but he's Chinese, so he understands the Chinese culture clearly. The former Binance CEO CZ said China would be one of the countries to adopt a strategic bitcoin reserve, possibly following in the footsteps of a plan proposed by the incoming U.S. presidential administration. This is the game theory and global hash wars, which Max Geiser coined. Speaking at the Bitcoin Mana conference in Abu Dhabi December 9 yesterday, Zhao said he believed the smaller countries would likely be the first to adopt the bitty reserve, for example El Salvador. But the change could happen slowly. He added that China's position on crypto was harder to predict given the lack of transparency from its own government. Quoting him here, Trump has not gotten into office yet and the strategic bitcoin reserve has not been activated yet. So I think as soon as that actually happens, we'll see the other countries do. Let's go. We'll get the first movers advantage Fam CZ who grew up. Oh he did grow up in China. I didn't know that. I thought he grew up in Canada. He said that the country could move really, really fast on policies if it wanted. He added he hadn't seen any evidence the government was hoarding bitcoin, but it was inevitable for it to establish a strategic bitcoin reserve, quitting them here. I'd be shocked if the Chinese government announced something and then do it. I'd be much less surprised if they accumulate and then announce they have to do it at some point because it is the only hard asset. There is no second best. And establishing a strategic national bitcoin stockpile is one of the President Trump campaign promises to the attendees at the July Nashville conference. Critics of the plan have suggested it would only benefit the bitcoin holders, but likely causing the price to increase if the US government purchases and holds 1 million coins. My question for the government why so bearish? 1 million RFK junior proposed 4 million. I think the United States can get to 10 million, especially if they sold all that crap precious metal gold, if you feel what I'm saying. Peter Shifty now CZ was released from the US Federal prison back in September. He served four months after pleading guilty and violating the country's anti money laundering laws and as part of the agreement with Binance. After stepping down as a CEO and November of 2023, CZ will not have any part in managing or operating the crypto exchange in the future. His felony charge also restricts him from certain business activities, but he hinted that Trump could pardon him after taking office in January 20th. So there's the plan. Here's my idea. Trump Day One Pardon Ross, pardon CZ and pardon Julian Assange. Can you do that? And then fire Gary Gensler. Tell him to go home and get his fricking shine box already. We're sick of him. It's hunting season. JV is a hunting. All right, next story, guys. That's big though for China, for real. I'm glad to hear that. I know it's only a matter of time. Clearly if they don't adopt it, they're going to get left behind. Bitcoin super cycle. Send it. But anyways, next story of the day, let's discuss 150,000 target as per plan B, creator of the bitcoin stock, the flow model, the quant analyst himself. And then we'll dive into the brand new breaking news of Eric Trump. He just gave a speech on stage in Abu Dhabi at the big bitcoin conference saying he believes bitcoin will hit 1 million per coin. We'll break that baby down as well. But first, here we go. A widely followed analyst known for applying the stock to flow model to the bitty is unveiling his price target for this month, December. In the new interview, Plan B says bitcoin can surge as high as $150,000. Send it this month. More than a 53% gain from the current value. Are you ready gents and ladies? It's almost scary that it is happening again. It seems programmed three years of boring bear markets and then one year of the FOMO and the mace face melting bull action. And it's like that all the past cycle. So if history is any guide, we're going to see it again and I certainly think we're going to see that again. So indeed 100,000 if not 150 G's somewhere between that for this month of December. JV has been calling for 124,000 by the end of December, virtually all year, which is the current target on the one week chart, which is right in the middle of his projected target. So we'll see if we hit it. Family, let me know your thoughts. He also says that based on historic precedents, Bitcoin may continue to go up a series of rallies printing a new all time high until at least June. That means many pump parties of income in their family. Again, if history is of any guide, the returns of the video are not normally distributed. So it is not like we'll get an all time high and then the bear market in the all time high as a middle ground. No, it's all time high. After all time high. After all time high. It is very clustered. So maybe six to 12 months of the real bull market action. Send it. Let's freaking go. Can you feel what the nip is cooking? Because the Nip Anator is right here. Now for our feature story of the day. Eric Trump predicts bitcoin will hit $1 million in praises the bitcoin scarcity. That's right. He was just at the Abu Dhabi event, major bitcoin conference. And let me just quote what he had to say. This is word for word paraphrasing, not paraphrasing, but I was just looking for a different term here. But he says, I am confident bitcoin is going to hit a million. Quoting him from the conference, I can tell you a hell of a lot more. Eyes are going to be open when Bitcoin hits $1 million. And I am confident it's going to hit 1 million. I think we're all confident in this room that it's going to hit 1 million. Can I get an amen? Amen. So, yeah, that's pretty damn good. And also former Trump's campaign chairman, former chairman for the Trump campaign says to those celebrating a hundred thousand bitcoin, you are going to be celebrating much higher. My only response to this, thanks, Captain Obvious. That's like, we don't know that, but it's all good. I love the support. Eric Trump, the American businessman, executive vice president of the Trump Organization and son of the potus. Donald Trump, the one and only Don, the dapper Don, the real Dapper Don. I'm talking. John Gotti here. Predicted that bitcoin will someday hit 1 million. Trump took the stage with a keynote speech as bitcoin. I don't know if that's pronounced Mena or Mina whatever. At Abu Dhabi December 10 to praise Bitcoin as the financial paradigm and a global asset. He expressed confidence that the bitty will hit a million per coin one day, highlighting the crypto's potential to transform the global economy in beautiful ways. The businessman also predicted that more governments will embrace thy biddy in the coming years, stressing that early adopters will be amongst those who win. Get your W's now. And I ain't talking. George W. In his. In his speech, Trump emphasized bitcoin is not just another asset, it's not just an investment, describing it instead as a global asset. It's a store of value. It's a hedge against inflation. It's a hedge against political turmoil, political instability, acts of God, hurricanes, fires, floods, tornadoes. Guys, that's what makes it so powerful. Holy shit. I'm repeating that. It's a store value, it's a hedge against inflation, it's a hedge against political turmoil, political instability, acts of God, hurricanes, fires, floods, tornadoes. Guys, that's what makes it so powerful. Shout out Trump. Respect, brother. Trump mentioned bitcoin's decentralized nature, which doesn't require any of the middlemen to operate, as opposed to the tens of thousands of banksters pushing the credit apps and the paperwork with these crazy, outrageous fees. One major feature of the bitcoin is scarcity, which refers to the limited supply of the 21 million bitties. He noted. I can tell you a hell of a lot more eyes are going to be open when Bitcoin hits 1 million. And I'm confident it's going to hit a million. I think we're all confident in this room that it's going to hit a million. Why so bearish, Trump? Why so bearish? Trump isn't alone in predicting bitcoin will break a million. We also have major bulls like Michael Sailor and Ark investors Cathie Wood, who also highlight bitcoin's potential to reach a million, which we commonly cover here in the pod. Of course. We even had predictions from Sailor saying bitcoin will one day hit a hundred million per coin. Now some guy at the event said it's going to 400 million, which ultimately means Michael's right. It's going up forever. Laura. And according to Trump, the world has been slow in adopting the bitty. And that's not a surprise, given that the other disruptive texts like email have taken a time to gain the widespread popularity created back in 1970. Emails took 25 frickin years to gain mass adoption, he said, adding, people are slow as hell, slow as molasses to adapt the new technology. He's right. Trump shared a story about a close friend who told him bitcoin was funny money six months ago, when coincidentally, the bank that he works for is the one of the five banks in the world, the big five. They created the crypto desk and they're putting hundreds of billions of dollars into cryptos or inventing ETFs every single day. So, hypocrites, if you're to ask me what's next for thy biddy, in addition to the bowl 1 million prediction, Trump expressed confidence that the bitty has the power to transcend the borders and institutions. Bitcoin super Saiyans, where are you at? And those who fail to adopt the technology will lose, quoting them here. We're going to see that the banks have to adapt. We're going to see. The governments have to adapt. The governments will adapt. Those who embrace thy biddy. Those who embrace this digital revolution. Those who embrace the digital currency. The people who come in early. We're going to be the people who win. Where my winners at? All my bitcoiners. Trump concluded his address by congratulating the bitcoin community on bitcoin pass and the coveted six figure 100, 000 milestone for the first time in history and I don't know why Coin Telegraph and every Single article says Dec 5 I was here. I was streaming live. We witnessed it. It was freaking December 4th in the evening around 10pm 11pm here in Puerto Rico. So the fourth for the record but quoting them one last time. Bitcoiners, I love you. The Trump family loves you. It's truly a great honor to be here today. And the trumpets are blown. There you have it fam. Let me know if you agree disagree with Trump. The bullish prediction. And again, Mark Ross also predicted one bitcoin to be worth worth $400 million per coin. With that being shared. Welcome everyone to the Q A segment of the live stream. We're about to premiere a brand new music video. But first I'm going to end the poll. I asked when one million dollar bitcoin price will it be this cycle, which means between now and 2028 or will it be between 2028 and 2032, which would be the next cycle or will it be the following cycle, 2032 to 2036? Let me know. Let me go ahead and end the poll. Welcome everyone to the live stream. There's your opportunity to get your questions answered and all that fun stuff. But here's the results. Survey says next cycle, 45 of you believe it will happen between 2028 and 2032. 28 of you say this cycle and 26% of you say the third cycle from now. That's out of 253 votes. Greatly appreciate all the feedback of course. And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in our live Q and A. And I look forward to seeing you on tomorrow's episode. Hoddle.