← Bitcoin News Alerts | Daily BTC Macro Signal
Bitcoin News Alerts | Daily BTC Macro Signal
1855: “The UAE Now Holds $40 Billion Worth of Bitcoin?”
00:35:53
Rumors are circulating that the UAE now holds $40 BILLION worth of Bitcoin with a recent 300,000 BTC purchase.
Loading summary
Transcript15 lines
- [00:01]
Dutch Bros Sponsor
This episode is brought to you by Dutch Bros. Big smiles, rocking tunes and epic drinks. Dutch Bros. Is all about you. Choose from a variety of customizable handcrafted beverages like our Rebel Energy drinks, coffees, teas and more. Download the Dutch Bros app for a free Medium Drink plus find your nearest shop, order ahead and start earning rewards offer valid for new app users only. Free Medium Drink Reward upon registration. 14 day expiration terms apply.
- [00:28]
US Cellular Sponsor
See DutchBros.com this episode is brought to you by US Cellular. Some things are worth waiting for, like getting your diploma or finding the right partner. You know what's not worth waiting for? The cable guy. Fortunately, USAILOR's home Internet is so simple to install, you can do it yourself and it's just $39.99 per month when bundled with a wireless plan with a three year price lock guarantee. US Cellular Home Internet made simple without the waiting terms apply. Visit us cellular.com for details.
- [01:00]
JV
Welcome crypto fam to the number one daily Bitcoin pod. In today's show, I'll be breaking down the latest Bitcoin technical analysis as Bitcoin price stampedes to 99,500 hours after the record Bitcoin ETF outflow. We'll also be discussing tether USDT pours 775 million in the video sharing platform Rumble. We'll also be discussing Michael Sailor unveils the new Bitcoin framework to boost the US leadership in crypto as well as the Federal Reserve to own Bitcoin. Well, Senator Lummis proposes legislative update. I'll be breaking down for you. We'll also be discussing Max Kaiser rejects Michael Sailor stablecoin idea and champions the Bitcoin standard. Quoting Max here, sailor's idea that the US creates a 10 trillion stablecoin backed by Bitcoin is unlikely to happen because the US is extremely restrictive about who gets to use the USD. We'll also be discussing breaking news, a big obviously rumor at this point that the uae now holds $40 billion where the Bitcoin as nation state FOMO has officially begun. There's also a rumor circulating they just literally purchased 300000 Bitcoin. So you're not bullish enough. We'll also be taking a look at the overall crypto market. All this plus so much more. Yo. 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 cryptonewsalerts.net again that's crypto news alerts.net today is pod 1855. I'm your host JV. It's December 21st, 2024. Bitcoin is back in the green. Happy 420 broskis. Bitcoin up 420 on the day. The current all time high we achieved a few days back is 108 200. That's currently discovery which is practically just a God candle away. But anyways let's kick it off with our market watch as we do each and every day. You can see Bitcoin in the green, the broader market all in the red and correcting as the pretty little bitty going up and check it out coin market cap.com the current crypto market cap is sitting at a $3.33 trillion. The Bitcoin market cap just shy of 2 trillion. At 1.933 trillion we got 180 billion worth of the volume for the past 24 hours. Bitcoin dominance back on is at 57.8%. Ether dominance back on the decline at 12.1%. Checking out top 100 crypto gainers past 24 hours. We got move hype and Pengu let me know which alts if any you're bullish on for the bull. And checking out the crypto bubbles. And yes, Merry Christmas. Tis the season. Let's first zoom in on the daily, Safe to say maybe 90 to 95% of the market correcting. And in the red, very few cryptos in the green today minus the king. And zooming out on the monthly, the major, the market I'd say in the green maybe 6040 overall. And checking out the crypto greed and fair index today we're in greed at a 73 yesterday 74 last week in 83 and last month in 82. In extreme greed and checking out the time chain calendar we literally have 174252 blocks till the having of 2028 and we're currently on block height 875 748. You can currently exchange one fiat monopoly dollar for 1027 satoshis. So stack them stats fam you already know. So here the headline reads Bitcoin price stampedes to 99,500 hours after the record Bitcoin ETF outflow which was yesterday I believe. So here we go. Bitcoin neared 100,000 today after a monster bitcoin price bounce delivered snap upside as we can see here in the bitcoin one hour chart Data from Trading View followed Bitcoin as it gained 7,000 in less than 24 hours. Not too shabby and after liquidating the leverage long positions with a trip back to December, lows near 92 finally offer some relief as the weekend began reaching highs at 995 on Bitamp. The absence of the institutional trading appeared to make little difference as the bulls pushed for a reclaim to six figures. The rebound came as buyers returned to the largest US exchange, which is Coinbase, which had previously spawned the sell side press, quoting analysts here, Coinbase buying a lot since the lows said exit pump now you can see Super Bro Bitcoin daily with a monster hammer off to 50 moving average is outlined here in the chart and on the hourly time frames. We eyed the potential breakout signal in the form of an inverse head and shoulders construction as you can see here, a classic pattern that can mark a short term long term low continuing trading account Dr. Magic describe the scam breakdown signal from the Bitcoin RSI, which we know is the relative strength Index. He exclaimed that this episode is brought.
- [06:01]
Google Gemini Sponsor
To you by Google Gemini. With the Gemini app you can talk live and have a real time conversation with an AI assistant. It's great for all kinds of things like if you want to practice for an upcoming interview, ask for advice on things to do in a new city, or brainstorm creative ideas. And by the way, this script was actually read by Gemini. Download the Gemini app for iOS and Android today. Must be 18 to use Gemini Live.
- [06:24]
JV
This could have been driven artificially low, an event that preceded the previous periods of protracted bitcoin price upside. I wonder also if it had anything to do with the government announcing a potential shutdown as it creates a lot of uncertainty in the markets. I mean the stock market. In one day I saw lost one and a half trillion, which is crazy. And of course that impacts the crypto markets as well. According to the analyst here. There is a reason I am obsessed about this RSI scam breakdown that I've been posting for a while. It happened in every major leg up until the first local top. So is there manipulation going on? Probably now. Daily RSI stood at 52 at that time, preserving the crucial midpoint of a 50. And as reported during the bitcoin bull market, the RSI commonly holds above the overbought 70 level for extended periods. So Bitcoin returning near 100 GS which were only 2000 shy of at the time of the live stream, appeared bittersweet for investors of the US Bitcoin ETFs December 20th. The ETFs log net outflows of nearly 300 million which we covered in yesterday's pod data from sources including the UK based investment firm Far side Share. The largest of these, which is ibit, saw its largest net outflows to date on record of 72 million. Typically there's like billions of inflows every day, but I have a strong feeling there's going to be a tremendous amount of inflows on Monday, December 19, meanwhile, saw the aggregate total outflow for the ETF products hit its own maximum of 671 million. And with that being shared now let's pull up some of the live charts via Trading View via Coinbase. You should be able to see here on your screen as we're approaching 98, 000 about to you can see this is the one hour chart. We do have a target on screen sitting at $101,900 and zooming out from the hourly we'll scope out the four hour. The four hour chart shows a rising wedge formation. We do have a bear target sitting at 8800. I know some analysts were calling for that. I don't know how likely that is. I'm still leaning bullish as I always am just to keep it one hon. But nonetheless, let me know your thoughts. And zooming out we check out the daily chart. The daily chart also shows a rising wedge. You see the big red candles over the course of the past couple of days. Before that we had consecutive green candles and we do have a bear target as well sitting at 76700 on the daily chart. And zooming out from there we'll scope out the one week and we still have the cup and handle target which has been in play for a long time, which is 124000 which we could still potentially hit before the end of the year. To know your thoughts regarding the 124k target and you're going to notice 1-2-3456 consecutive green weekly candle closes since the November Trump pump Since the election we are forming a red candle as you can see but we have till Tomorrow maybe around 6pm until we get the weekly close. So let's see if we can continue the momentum and go from there. And zooming out from the weekly we take a quick look at the monthly chart and as you can see Moonvember was the biggest green candle close we've ever had on the monthly. It was roughly a thirty thousand dollar gain, practically a thousand per day every day and now we just lost a lot of those gains here just recently after tapping out at 108.2ish in that ballpark. But we are gaining some momentum. As you can see we're about to test 98, 000 here any moment. So there you have it. Crypto Fam. Let me know where you feel the Bitcoin price action will likely end for the month and for the year of 2024. Holla. Headline reads Tether Poor 775 Million into Rumble and shout out to the Rumble and to the Rumble fam as you stream live every day on x rumble and YouTube. So yeah, tether the issuer, the world's largest stable coin by market cap, just invested 3/4 of a billion dollars into the Rumble. And as you know, Tether deeply believes in the fundamental values of freedom of speech and financial freedom. Shout out to the Tether CEO Paolo now they say our strategic investment in Rumble greatly underscores Tether's focus on supporting tech and companies that empower humans, delivering independence and resilience it to our society. Amen. He also said he was optimistic about the Rumble. CEO Chris and his team have built and looks forward to collaborating on a shared vision. Tether and Rumble plan to collaborate on advertising, cloud and crypto payments. And also Chris recently made the announcement the CEO of Rumble that they now have Bitcoin on the balance sheet. So that's another win. Echoing a similar sentiment, Pavlovsky who is Chris, said that he has never been more excited for the future and intends to keep pushing against the world's largest video sharing platform, YouTube. YouTube look out. I'm coming for the monopolistic market share globally. Amen. And following the announcement, rumble share price surge 51%. Just like that. It pays to adopt the biddy because you have 100 million plus bitcoiners like us who are going to promote you for adopting it. No brainer. Every company should be doing the same. Learn from them. So yeah. Their stock reached 10.90 according to Google Finance. And on November 25, Rumble confirmed plans to add Bitcoin to the balance sheet. All smart companies should follow in that footsteps using the sailor put.
- [11:30]
Shopify Sponsor
This episode is brought to you by Shopify. Upgrade your business with Shopify, home of the number one checkout on the planet. Shop pay boosts conversions up to 50%, meaning fewer carts going abandoned and more sales going cha ching. So if you're into growing your business, get a commerce platform that's ready to sell wherever your customers are. Visit shopify.com to upgrade your selling today.
- [11:52]
JV
The video sharing platform said its board of directors approved the strategy, allocating a portion of the company's excess cash reserves to the biddy at the company discretion and up to 20 million total. Pavlovsky teased the idea of adding Bitcoin to the balance sheet November 9th in a poll. And out of 43,000 votes, we had roughly 94% say yes. And I mean, why wouldn't they? Unless they're just a hater, you feel me? Let's continue with the news. We got a lot to share. Here's the latest from the Gigachad Mikey Sailor he unveils new Bitcoin framework to boost the US Leadership in Crypto that's right. So Sailor emphasizes that a well structured digital asset policy could significantly strengthen the US Dollar. That's right, mitigate national debt and empower millions of businesses. He believes that by establishing a clear and universally understood taxonomy of digital assets, the US can foster innovation and create trillions of value. The Sailor framework categorizes digital assets into several key classes including digital commodities such as the Bitty, which are backed by their own digital power, and digital securities that represent ownership and equities, and derivatives. The categories include digital currencies linked to fiat, also fungible digital tokens offering specific utility unique NFTs, and digital assets tied to physical commodities like gold or oil. We all know gold is the poor man's bitcoin. That one's for you, Peter Shifty and to ensure the legitimacy of these assets, Sailor insists of a robust framework defining the rights and responsibilities of all the market participants as essential. This is the mains to establish a trustworthy environment where issuers have the right to create assets while ensuring a fair disclosure. Exchanges are responsible for the safeguarding of client assets, maintaining transparency and the owners are empowered to manage their assets and compliance with the local laws. And central to the framework is the foundational principle that all participants must act ethically with civil and criminal accountability for their actions. Saylor also advocates for a regulatory approach that prioritizes efficiency and innovation over bureaucratic hurdles. He proposes standardized disclosures and industry led compliance measures that enable exchanges to assist in data collection and publication and by limiting compliance costs and streamlining the issuance process, he envisions rapid asset creation, potentially reducing timelines from months to mere days. This empowerment of the exchanges that facilitate integrated services for all the market participants aims to enhance the overall efficiency of digital asset transactions, fostering a competitive and innovative marketplace. So recently Jay Powell was asked, will you guys buy Bitcoin? He's like no, the Fed does not buy Bitcoin and There's an interesting headline that caught my attention. It says the Federal Reserve to own Bitcoin. Senator Lummis proposes the legislative update. So let's break down the latest from Cynthia Lumis of Wyoming who outlined the proposal to grant the Fed the authority. That's right. Jay Powell said they can't because they don't have the authority to hold bitcoin as part of the U. S. Official reserves. She argued the approach could improve the country's long term financial stability, strengthening the global role of the US Dollar and provide a valuable hedge against the nation's ballooning national debt which now surpasses $36 trillion. That's right. My proposal would have the U. S purchase, she said, through other assets. It already owns 200000 bitcoin a year for five years for a total of a million Bitcoin. That's Lummis's plan, which he reiterated. We would hold it for at least 20 years and at the numbers that we project that would accrue a fund that's worth 16 trillion. We want our federal government to have a strategic bitcoin reserve that can help back the US dollar, the world reserve currency, and then serve as a long term saving account, thereby offsetting our national debt. Now the senator's remarks directly confront the current stance of the Fed chairman J. Pal. At the latest FOMC meeting, he reiterated that the Fed restricts the institutions from owning it. Quoting him here, we're not allowed to own bitcoin. The Fed act says we can't own it and we are not looking for a law change. He's the Fed's. Ultimately that's the kind of thing for Congress to consider. But we are not looking for the law to change at the. Of course they're not. Bitcoin severs the banks of the, you know, I mean the heads of the central banking cartels, literally. And he works for them. Loomis acknowledged this legal roadblock but remained determined to shift the conversation to Congress. Precisely what she needs to do. She believes lawmakers need to give the central bank the other authority, the whole bitcoin. Quoting her here, I understand the Fed believes it doesn't have the legal authority to own bitcoin. We need to give that to them. Preach. The Bitcoin US already owns roughly 200,000 Bitcoin, but I heard 100,000 of that belongs to the Bitfinex folks that got robbed. Nonetheless, her proposal aligns with principles set forth of the Bitcoin act of 2024 introduced earlier in the year.
- [16:47]
Global X Sponsor
This episode is brought to you by global X. Since 2008, global X ETF has been committed to empowering investors with unexplored intelligence solutions. Global X specializes in exchange traded funds that offer exposure to the artificial intelligence ecosystem, including themes like data centers, robotics, semiconductors and cloud computing. To learn more about Global X's entire suite of ETFs from covered calls, fixed income, emerging markets and more, visit globalxetf's.com.
- [17:15]
JV
It seeks to establish the strategic Bitcoin reserve of the US to enhance the national financial strategy. The act involves setting up secure Bitcoin storage facilities, purchasing 1 million Bitcoin over five years and funding these purchases through existing financial reserves without increasing the taxpayer burden. In fact, they should just reduce or limit all capital gains tax on crypto, which I heard is a rumor coming from the Trump administration right now. Quitting her here. It is absolutely the right asset, she said describing Bitcoin properties. It is digital gold. It's a finite source. Only 21 million Bitcoin will ever be mine. Even though it is slightly volatile, it's already volatile in an upward leaning direction. And so the goal here of holding it for 20 years is in recognition that on the short term there is short term volatility, in the long term there's long term growth that far exceeds the ability of the US Dollar to keep up. Lummis cited historical growth trends to bolster her argument and although Bitcoin has existed for only 15 years or 16 years, she views its long term trajectory as overwhelmingly positive. While she acknowledged that the growth growth may slow from the early years, declining from 55 annual growth to maybe 45 to 35%, it would still in her estimation continue to grow where the US Dollar will continue to decline in value as the money printer continue to go purr. And quoting the Bitcoin archive from this Senator Lummis interview she recently had, Senator Lummis says she wants to give the Fed the authority to own the Bitcoin. I want our federal government to have a strategic bitcoin reserve buying 200000 bitcoin a year for 5 years. Can I get an amen 10? And holding it for a minimal of 20 years. So respect to Senator Lummis and I mean those proposing for the strategic Bitcoin reserve. Let me know if you think Trump will sign that bill. Holla. And if he does, we're looking at some very bullish targets for this cycle. JV has been calling 1.1 million Max Kaiser doubled over the top 1.1 million times two which is 2.2 million. Let me know your thoughts to some of the bull targets. If we don't get the strategic Bitcoin reserve at a state or nation level, it's a it's already a lock because the states are already applying for it. But if we don't, I'm still super based.420 for the Siskis and the Broskis. Especially for those who were born at wood stocks such as our very own Oracle jcis, this one's for you. We're all Satoshi let's continue with the news. Next story of the day. We discussed Sailor. We discussed the Fed btc. Here's the latest from the High Priest of Bitcoin, Max Kaiser. He rejects Michael Sailor stablecoin idea and champions the Bitcoin standard. That's right. Max has recently commented on the proposal by sailor for the US to create a 10 trillion stablecoin pegged to Bitcoin. Calling this idea not plausible given the restrictive policy of the US dollar, Kaiser framed the US dollar as the ultimate proof of stake shitcoin, Amen. Emphasizing it derives its value from control and exclusion rather than openness and neutrality. Max, as we know, has offered a sharp critique of the global financial system, this time targeting the idea of a Bitcoin U. S Stablecoin. That's right. Kaiser dismissed the idea as unrealistic, citing the restrictive nature of the US dollar policies. And if anyone knows the US government, it's Max. He described the USD as the ultimate proof of stake shitcoin, arguing that its value stems from centralized control and exclusion, which is 100 accurate rather than the transparency and neutrality championed by decentralized systems like Bitcoin. And reading Max recent tweet out loud and even tag Sailor Respect Sailor's idea that the US creates a 10 trillion dollar stablecoin backed by Bitcoin is unlikely to happen because the US is extremely restrictive about who gets to use the US dollar. Good point. The US dollar is the ultimate proof of stake coin and the US government is never going to open source the US dollar and let her perceived enemies such as Russia, Iran and whistleblowers etc use it. The US dollar is backed by violence. Bitcoin is backed by peace. President Bukele gets it. El Salvador is moving to a peaceful bitcoin standard. The interim goal in El Salvador is to acquire another 20,000 BTC and good point there. And let's continue with the story here. Kaiser contrasted the US dollar's foundation of force with Bitcoin's ethos of peace, referring to El Salvador's adoption of a bitcoin standard under Bukele as the prime example of a peaceful financial revolution. That's right. Reaffirming his bitcoin commitment with the powers to buy up to another 20,000 of the biddy, Kaiser says El Salvador is leading the way. They had the first movers advance advantage their bitcoin country and always will be because they were the first to put bitcoin on the balance sheet. Max further asserted that the US can't create a strategic bitcoin reserve without collapsing the US dollar and ultimately losing their world power. But El Salvador on the other hand, is in a rare predic position to do so. Under Bukele, it has increased daily purchases, setting an ambitious short term target, adding another 20,000 bitcoin to the reserve. This bull strategy underlines El Salvador's commitment to the bitcoin standard and rewriting its economic trajectory. Max focus mainly on the recent interview with CNBC where Sailor laid out the plan for how the US could leverage the incoming administration. Trump Okay, I have to tell you I was just looking on ebay where I go for all kinds of things I love and there it was, that hologram trading card. One of the rarest, the last one I needed for my set.
- [22:38]
Global X Sponsor
Shiny like the designer handbag of my dreams.
- [22:41]
JV
One of a kind.
- [22:42]
Global X Sponsor
Ebay had it and now everyone's asking ooh, where'd you get your windshield wipers?
- [22:47]
JV
Ebay has all the parts that fit my car. No more annoying, just beautiful. Whatever you love, find it on ebay. Ebay things people love to implement the digital asset framework that would cement the dollar as the premier digital currency. Saylor blasted the hon generous U S stance regarding crypto and murky regulations. Gensler forcing companies like Tether to issue dollar back stable coins offshore. He envisioned U S banks one day issuing their own stable coins and creating a multi trillion dollar global opportunity for the dollar. And even though he supports Trump's plan on the strategic bitcoin reserve, Sailor explained that the U S issued digital dollars can tap into a 10 trillion global market boosting demand for U S treasuries used back back those tokens. It would allow the US to extend the dollar's dominance in the new digital economy. He further went on to explain how Russia, China, Africa and South America already utilized stables such as Tether to access the dollars. So there you have it yo. Let me know if you guys agree or disagree with the the Gigachad and of course with what Max Kaiser and his feedback to all of that before we jump into our feature story of of the day and discuss the UAE allegedly rumor has it holding $40 billion worth of Bitcoin and Reason making a 300, 000 Bitcoin purchase. But I also forgot to share this tweet with you. I wanted to share one more from the high priest and then we'll get to our next story and check comments. But yeah, El Salvador senior bitcoin advisor Max says President Bukele has ramped up the daily bitcoin buys within term goal of acquiring 20,000 thousand more of the bitties. So there you have it yo. Now for our feature story of the day. Let's break this baby down. Rumors are circulating that the UAE now holds $40 billion where the Bitcoin as nation state FOMO has begun and probably has begun a while back. Also let's not forget that just recently there was the big bitcoin conference I think maybe last week or the week prior over in abu Dhabi. Trump Jr. I guess it was Eric Trump actually gave one of the best speeches at the event and confirmed that they're going to be adopting a strategic bitcoin reserve and how bullish him and his family truly is about bitcoin. And you already know I've been leaking insider information from Max Kaiser all year and I'm going to show you what I'm talking about. But this is a brand new tweet from Vivek who I respect, who wrote rumors and bless you Nipinator, rumors that the UAE, the United Arab Emirates now holds $40 billion worth of the bitcoin as the nation state FOMO has begun. Let me know if you agree or disagree with that particular sentiment. Someone wrote here the uae, Saudi Arabia, Kuwait, I expect most of Middle Eastern sovereign wealth funds to be heavily invested and I agree with that sentiment. Also we have Lark Davis shout out Lark. He says rumors are circulating the UAE just purchased 300,000 of the Bitcoin. If that turns out to be true, nobody is bullish enough. Let's consider how much money is out there in the Middle East. We're talking all that oil money and he wrote here Bitfinex 2025 Market Outlook and shout out Lark Davis. I remember when I first got to crypto he used to refer to himself as the crypto Lark and I used to follow him and he always has some good content. So respect. But anyways, I also wanted to share this because this is quoting Max Kaiser. We've been leaking this all year. He says the speculative attack is just getting started. Sailor Bukele and the Saudis are all in 220, 000 Bitcoin in play and so is 1 million. And if you've been paying attention to the podcast, Max Kaiser recently increased his bitcoin prediction this cycle by a factor of 10x to 2.2 million. But who started breaking this story first? Your boy Max Kaiser. And I've been reporting it. So this was back on March 10th and I didn't just announce it like one time. We started, you know, they had the actual the Saudis meeting with Bukele. There's been a lot inside information so I'm just going to read you some of these trending stories that I shared Previously. Max Kaiser predicts 300 trillion purchasing power moving into Bitcoin sending the price 150x to 10 and a half million per coin. Quoting Sailor Bitcoin is going to continue to progress to a million a coin. 2 million a coin 5 million a coin 10 million a coin. Bitcoin price reached 10 million per this date from Fun Strat Shout out Thomas Lee Quoting Max again. And this was from December of last year. The Saudis will will make Michael Sailor look like a peanut. A 500. Oh my God, how many zeros is that? I think that's 500 billion dollar buy order triggering the God Candle is already a done deal and for Max to say that you already know he has some insights. He doesn't just make, you know, stuff up out of thin air. That's why he is the High priest. He also said the implied hash adjusted price for bitcoin is over 400,000. That was back in December of 2023 and the hash rate only just continues to hit new all time highs. Another quote from the High priest right here.
- [27:48]
AWS Sponsor
This episode is brought to you by aws. Amazon Q Business is the new generative AI Assistant from aws. Many tasks can make business slow like wading through mud Help. Luckily there's a faster, easier, less messy choice. Amazon Q can securely understand your business data to help you streamline tasks like summarizing quarterly results or doing complex analyses in no time. Q Got this. Learn what Amazon Q Business can do for you@aws.com learn more these two are.
- [28:18]
JV
Teaming up to make Larry Fink, Blackrock and Sailor look like peanuts. Referring to the Middle east here with a buy order of 1 million Bitcoin making a $100,000 God candle. Also there was news Russia to build a Bitcoin mining hub in Ethiopia Africa which I covered last year in December. Also quoting Max Russia is getting deeper into Bitcoin as we have been reporting what happened happen for five years and that was around the time the news Russia, Kingdom of Saudi Arabia, Iran will start doing deals in bitcoin. Qatar knows this and is pulling the trigger on a huge bitcoin buy for their sovereign wealth fund. Remember the Qatar rumors? Again this all goes back to the Middle east. So I'm just showing you some of the trending stories I did share back in January. Qatar and the Kingdom of Saudi Arabia may be making a bitcoin announcement next week regarding a major 1 million in Bitcoin by order. So the million dollar question becomes when Max was reporting this and I was reporting it on the pod, were they buying behind the scenes? You let me know. And then on January 1st bricks officially doubled overnight where the UAE, Saudi Arabia, Ethiopia, Geo, Egypt and Iran are officially members of the bricks. The Saudi 1 million bitcoin buy and God candles the done deal. Quoting Max Kaiser of course there and I mean I can go on and on. Bitcoin will catch gold. 750,000 is a done deal. 220,000 in play. My upper target for the cycle was raised 750,000 that was back on March 11th. There's some proof of work. And again he just recently upped that target to 2.2 million especially with a strategic bitcoin reserve. He says the speculative attack that Sailor and Bukele are making against the US dollar and all fiat money using Bitcoin that moves 300 trillion of purchasing power into the Bitcoin is 150x move 70,000 an example 10 and a half million per Bitcoin. And again I'll maybe read a couple of more for you and we'll go from there and we'll discuss this, shall we? But yeah, I mean the bricks news Bricks continues with their D dollarization movement and you already know Bitcoin will catch gold. We know the gold market cap is currently 17 trillion. Bitcoin market cap is just shy of $2 trillion. And when we flip gold. Game on. Yeah, I mean also update what I heard nine months ago and reported on is happening the largest oil company in the the world, Armaco, Saudi Armaco is doing a Michael Sailor and putting billions into bitcoin. The FOMO is real and I'll just stop there because there's endless stories you I mean right in alignment with these rumors. But I want to know what your thoughts are. Do you think they'll come out, make the big announcement or you just think they'll continue stacking on the low? Do you think it's a bunch of. Or do you think there's credibility there? Anything Max says repetitively I give massive weight to because he's the high priest. He'd been preaching about bitcoin since it was a quarter, so you got to respect that. And with that being shared welcome everyone to the Q A segment of the live stream. I'm going to do my best to read as many comments out loud as I can. There are about 400000 Bitcoin over the counter and another 2.4 million held by all the bitcoin exchanges. At the current accumulation rate, the entire available supply of the bitcoin is consumed in 35 weeks supply shock. That is right and that's pretty accurate. The lowest amount of bitcoin available available on the exchanges right now. And what happens when there is very limited bitcoin for sale and there's mass demand such as the Institutional fomo, Nation State fomo, State Adoption fomo, Sovereign Wealth Fund, Pension Fund fomo. Pretty little bitty going up. 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 SA.