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1890: Czech National Bank Governor Proposes $7.3 Billion Bitcoin Reserve Plan
00:33:52
The Czech National Bank may invest up to 5% of its reserves in Bitcoin, potentially acquiring $7.3 billion in BTC as part of its diversification strategy.
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- [00:01]
Advertiser
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- [00:29]
JV
Welcome crypto fam to number one daily Bitcoin pod. Bitcoin pumping back in the green. Back above 103. In today's show, I'll be sharing the latest astrology for the Broskis. Also breaking news, Kentucky State Representative TJ Roberts says he will file a bitcoin strategic reserve bill. Music to my ears. We'll also be discussing Utah House committee passes a bill for the state to buy crypto as well as Trump media to invest cash reserves into bitcoin, crypto and ETFs. We'll also be discussing the latest Kucoin agreement to pay 297 million to the U S Government for operating unlicensed money transmitting business. We'll also be discussing Arthur Hayes. Just Blaze says ugly Bitcoin Correction to propel the biddy to250,000 per coin this year with no material pullback. Also big breaking news. The Czech National bank governor to propose 7.3 billion dollar Bitcoin reserve plan. As the global hash wars continue, 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 cryptonewsalerts.net Again, that's Crypto News Alerts. Today is Pod Episode 1890. I'm your host, JV. It's January 29, 2025. All hail the new chairman of the SEC. He goes by the name of the Nibinator. We may get another Nibinator indicator. He gave us one the other day and we started pumping just like that. It's like witchcraft at its finest. But that's all I'm going to say. But anyways, yeah, let's kick it off with our market watch as we do each and every day. You can see coin360 pulled up on the screen here. Bitcoin in the green, pretty low bitty going up 1034, up 1% on the day. Ether pulled back down a percent. XRP down 2% and the broader market correcting and in the red but but bitcoin is in the green that's all that matters. And check it out coinmarketcap.com current crypto market cap sitting at looks like 3.49 trillion bitcoin market cap above 2 trillion good to be back above and the bitcoin dominance has been on the climb which is nice. The volumes 117 billion past 24 hours dominance 58.7% ether dominance all the way down to 10.7% not a good look eth not a good look. And check it out top 100 crypto gainers past 24 hours we got whiff leading the pack followed by the infamous fart coin. Can you smell what the rock is cooking with the fart coin and we also have onyx coin and let me know which al if ain you're bullish on for the bull and checking out the crypto bubbles we get a visual perspective it's clear to see I'd say 70 of the market red over green Zooming out on the monthly yeah like 8020 red over green and checking out the crypto green interfere index today we're 72 green yesterday 72 last weekend 84 extreme green last month of 65 in greed checking out time chain calendar and you can see we have 168,617 blocks until the next having in 2028. We're currently on block number 881383 and you currently exchange one Fiat Monopoly doll 977 sets. So stack the sats, put down the gats and pick up some bitcoin caps from Bitcoin caps.net tell Sergio JV Centa and there you have it. Bitcoin price risk critical goal breakdown after 20% annual gains. That's right bit bit cane. Bitcoin may currently be trading in limbo amid a lack of directional catalyst. But one macro asset far from range bound is gold. And the Peter shift mer is going crazy. Trading view confirms Bitcoin gained 10% year to date. Gold up around half of that 5% in 2024. The latter gained 20%. Now the precious metal has ignored the volatility shock such as this week's deep seek AI scare which also tampered its traditional inverse correlation to the US dollar, Gold prices have risen in a straight line higher even as volatility shook the S and P. In fact, even as the US dollar hit a new 52 week high and the 10 year note yield broke 4.8% gold surge. Historically speaking Gold should be down sharply, but the opposite is happening. Why? Because the US dollar is freaking doomed and everything, not the dollar is going to look like it's performing well, in my humble opinion. What are your thoughts? Bris? Bitcoin's relationship to dollar strength is measured via the dxy, which is us you know Currency index has long been a topic of discussion for market participants. The outcome for Bitcoin in the face of ramping gold upside is clear. All things aside, gold is about to make a new all time high. Matter of time before Bitcoin follows, according to analyst Maau Van Pop. Still, not everyone says the status qu Continue for long Analyzing the Bitcoin to Goal Ratio Hey, I'm Ryan Reynolds.
- [05:31]
Ryan Reynolds
Recently I asked Mint Mobile's legal team if big wireless companies are allowed to raise prices due to inflation. They said yes. And then when I asked if raising prices technically violates those onerous two year contracts, they said what the are you talking about, you insane Hollywood. So to recap, we're cutting the price of mint unlimited from $30 a month to just 15amonth. Give it a try@mintmobile.com Switch $45 upfront.
- [05:55]
JV
Payment equivalent to $15 per month New customers on first three month plan only taxes and fees extra Speed slower above 40GB Details we have Northstar warning that a critical level was in danger of being violated. The ratio set new all time highs of its own in December of last year. Bitcoin should break out versus Gold after this consolidation here, but if the ratio falls below a 34 the bull run may end. Oh no. No need for any narrative or bias. Just observe the evidence as it unfolds. In this case it'll be very clear one way or the other. And in breaking news, Kentucky State Rep. TJ Roberts says he'll file the Bitcoin strategic reserve bill. Quoting him here, I will be filing a Bitcoin strategic reserve bill on the first week of my return to the General Assembly. So shout out TJ for the win. And also Bitcoin is closely following the 2017 cycle. Look at this and shout out Dan H. For the post. Dan Held, what do you think happens next? And obviously the black line is where we're at and the blue line is the 2017 cycle. And if you remember, I mean that was the year I discovered bitcoin. So I remember it like it was yesterday. Bitcoin was roughly a thousand dollars and by the end of that year, December it was at 20,000 or almost 20,019 and some change which is virtually a 20x and it started off the year even lower. So if we are to follow this trajectory, what does that mean? Max Kaiser's 2.2 million target is in play is what it means because a 20x from 100,000 is virtually million. So do you agree with Dan Held, the OG that bitcoin right now this cycle is closely following the 2017 cycle. Yay or nay. And what do you think will happen next? Holl at your boy and let's pull up some of the live chart. Little live chart action. Jackson for the Brosis. Here we are. You should be able to see this on your screen. And let's start actually with the one hour and work our way backwards. Just really quick, quick glimpse of the time frames as we're pumping. Big green candle forming on the daily. But I think I said I was supposed to go to the hourly. My bad. Go to the one hour chart here and you can see a rising wedge. 1, 2, 3, 4, 5 hours of consecutive green candles. So we've been pumping all afternoon and we're currently above 104. We're pumping very fast during this live stream which is a great sign. Yeah. Hopefully you listen to the nimator indicator and stack the bitty yesterday as he told you to buy. And zooming out, here's the four hour, four hour very lit as well. We have the 130,000 orange target rising wedge formation. Big green candle candles bulging. We got two back to back on the four hour. Very bullish zooming out. Here's the daily chart and as you can see a big green candle forming on the day yesterday we were like in the 99 range. We're definitely like sub 100. So it feels good to be back at 104. Virtually 5000 away from price discovery. I'd say less than 5000 away until the all time high is recaptured. When do you think we'll recapture that all time highs. We only have a couple of days left here in January. And checking out the weekly chart. 3 green consecutive weekly candles formed and forming obviously as we're in the middle of the week here. But zooming out from the weekly, here's a quick look at the monthly. And of course we have that sexy 124000 cup and handle target which is a given, it's been there for a while. And checking out the monthly nice green candle forming which we love to see. And if you don't know now you know. But anyways keep the comments flowing. Uh, let's continue with the news. I do got A lot to share this fine day. Here's the latest with Bitcoin adoption in the state of Utah. Headline reads Utah House Committee passes the bill for the State to buy the Crypto that's right, the uha. UHA Utah House Committee passed the bill that would allow the state to invest a portion of the public funds into the crypto. With the measure now heading to the House for a vote, the Utah House Economic Development committee passed the HB230 the blockchain digital innovation amendments by an 8:1 vote and that was as of yesterday the 28th. Utah representative Jordan Tusher proposed the bill Jan.21st in which would give the state's treasurer the authority to allocate up to 5% of a certain public fund to buy qualifying digital assets such as those with a market cap of over 500 billion or approved stable coins. So the collectively saying bitcoin or tether USDT correct me if I'm wrong. The second substitute version of the original bill was updated January 28th with provisions for crypto mining zoning restrictions. The bill will now head to the full House where it will need majority approval both there and in the Senate before it is given to the governor to sign or veto. 12 u s states now, including Utah's neighboring states of Arizona and Wyoming, the hometown is in the LMS have introduced bills given their local Treasuries permission to buy crypto according to the Bitcoin Reserve Monitor. It's all outlined right here U. S Strategic Bitcoin Reserve status by state and yeah, it's pretty awesome there. Now the Satoshi Action Fund co founder Dennis Porter said on X that Utah is the second U S state to pass a symbol bill out of the committee quoting them here. While Utah is the 11th state my favorite number to introduce similar legislation, we will be the first to pass it. You hear that Trump? Now Utah's bill would require the state digital assets to be held either through Secure Custody Solutions qualify custodians or exchange traded products. It would also allow the Treasurer to engage in staking and lending crypto assets under specific conditions. The legislation would also prohibit state and local governments from restricting the acceptance of crypto assets as payments for legal goods and services. The bill, which needs the approval from the Utah Governor Spencer Cox, is scheduled to take effect May 7th if it's passed. Cox appear to be pro crypto having signed a bill to create the Blockchain Digital Innovation task Force in 2022. Meanwhile, South Dakota representative Logan Manhart also suggests a concept of a state Bitcoin stockpile And do you think Trump will stockpile the bitcoin as he proposed in his executive order? And will it it include other cryptos or will it only be bitcoin? Because he clearly used the word crypto in that stockpile, even though in his original speech in Nashville he used the term bitcoin. So let me know your thoughts. And quoting the South Dakota representative here, I am proud to say I'll be bringing a bill in the South Dakota House that will create a strategic bitcoin reserve. Now is one of the few chances that the government has that being proactive. Let's go. But yeah. Next story fam. Here's the latest with Trump. My apologies. I just realized I spelled media wrong. I put a W instead of an E. Oops. But I guess the W stands for winning or Wu Tang. Wu Tang. Either one is acceptable for me. But here's the next headline. Trump Media to invest Cash Reserves into the Bitcoin Crypto and Exchange Trade IT Funds. That's right. Trump Media and Technology Group court on the Nasdaq, the ticker djt, operator of the social media platform True Social and the video streaming platform Truth Plus. By a show of hands, how many of you actually use Truth Social or Truth Plus? I am just curious if anyone here actually uses that. I'm like all my times on X, so I'm not going to pretend I'm on True Social, but sometimes I see people post the Trump tweet from his network onto X, you know, because he probably shares it on his platform first, I'm assuming. But anyways, Truth five, the company stated that the board of directors approved a strategy to enter the financial technology sector, quoting them here to diversify the company's cash and cash equivalent reserves of over 700 million as of December 31, 2024. The board has approved the investment of up to a quarter billion dollars to be custody by Charlie Schwab. That's right. In addition to traditional investment vehicles, these funds may be allocated to bitcoin and similar cryptos. Well, guess what? There is no similar crypto. There is no second best. That's kind of ironic, but nonetheless. Besides crypto assets, the initiative includes plans to invest these funds into customized separately managed accounts and ETFs. These investments will be managed in collaboration with Charlie Schwab, while the affiliate Yorkville Advisors will act at the registered investment advisor for the new financial products which aim to support American growth industries in the Patriot economy. That's right, Shout out to all my patriots. Trump Media and Technology Group is closely tied to President Trump obviously who holds a majority stake in the company. He founded it in 2021 after being banned from major social media platforms and launched Truth Social in 2022 as an alternative form of free expression. And then December 2024 he transferred $4 billion stake into it for a revocable trust all wealthy people use Trust controlled by his son Donald Trump Jr. Who holds exclusive voting and investment authority. And while Trump is not involved in the daily operations, his ownership and the platform's alignment with his political brand reinforce his connection to the company. Meanwhile, their CEO and chairman Devin Nunes expressed enthusiasm for the initiative, position it as a natural extension of the company's mission. Quoting him here, we look forward to launching Truth DOI and introducing these investment vehicles unlocking synergies. He emphasized that the company has already established a free speech social media platform and a streaming service and is now moving into decentralized finance. Quoting him here, developing America first investment vehicles is another step towards our goal of creating a robust ecosystem which American patriots can protect themselves from the everpresent threat of cancellation, censorship, debanking, privacy violations committed by big tech and woke corporations. I can so relate because as you know, crypto news alerts gets terminated under false pretenses on YouTube virtually every single year. I'm sick of it. So are you trying to tell me they're going to protect our First Amendment right of freedom of speech? Hallelujah. Anyways, the company plans to roll out these financial products in 2025 as agreements are finalized, regulatory approvals are secured. In recent years, Trump has taken a more more pro crypto stance. You can say that again. In January 2025 he signed the Executive order establishing a working group to review digital asset regulations and explore the creation of a national Bitcoin reserve, making a significant shift from the previous policies. He also appointed David Sachs as White House AI and crypto czar and selected a pro crypto SEC chair named the Nibinator the one and only Nipsey, signaling his administration's commitment to the digital asset sector. These moves reflect Trump's evolving perspective on crypto and his intent to position the US as a leader in the field. The war on crypto is officially over. Quoting high priest Max Kaiser on the off the back of this news, anything allocated to shitcoins open ups a vulnerability to the competitors who are bitcoin only to exploit this truth will win out, but the US will find itself sucking the hind title. I'll tell you this not a good look Trump to be sucking the hind tit when we supposed to be Leading the world. So that's the difference between crypto adoption and bitcoin adoption. Max, preaching the truth here. I mean, so we'll see how it plays out. But nonetheless, there you have it. Let me know your thoughts, fan. And let me know, do you think America stuck. Stuck in the hind tit? It's like, I guess it could be worse, especially with the transgender agenda. I mean we'll take the tit, but you know what I'm saying. Next story. Kucoin just got hit with like a 300 million dollar fine which is probably nothing because these exchanges make billions, but nonetheless I found it interesting headline. So it reads kucoin agrees to pay $297 million to the U.S. government. Well, good thing they're going to be stockpiling this bitcoin. But it says us, you know, so I don't know if it's really bitcoin. But anyways, for operating unlicensed money transmitting business, it's a lot of money there Pecking Global Ltd. The base company operating the Kucoin, pled guilty to operating an unlicensed money transmitting business according to the press release from the U.S. attorney's office. Could just be a big shakedown, which happens quite often. But anyways, U.S. attorney Daniel Rasson says the exchange failed to maintain an adequate anti money laundering program and failed to report suspicious transactions. Sound familiar quoting them here. As a result, Kucoin was used to facilitate billions of dollars worth of suspicious transactions and to transmit potentially criminal proceeds, including proceeds from the darknet markets and malware, ransomware and fraud schemes. Today's guilty plea and penalty show the cost of refusing to follow these laws and allowing unlawful activity to continue. Kucoin has agreed to criminally forfeit 184 million and pay a fine of 112 million. She's and the firm will exit the US market for at least two years. Yeah, if you're in the U. S Market, you got to follow all the U. S Laws and I guess, apparently, allegedly they weren't. Two of the exchanges founders, Chungan and Ketang, had agreed to forfeit approximately 2.7 million in funds. Neither founder will have any role in Kucoin's management or operations moving forward. Kucoin is currently the third, or sorry, 17th largest crypto exchange of the world in terms of monthly visits according to data for coin gecko. So I know know people that like Kucoin because maybe they can't open an American exchange for whatever reason, but for Americans, I don't really know anyone using Kucoin. But people that aren't in the U.S. it's a very popular exchange out there and I guess apparently they weren't following any of the rules or regulations of the US and when you are available in the US to US investors you got to be very careful because they're going to come after you, shake you down, do whatever they can to shake it up and seems to be what they're doing and that's not the first exchange they've gone after. Obviously they went after Binance, the Department of justice got like a 4 billion dollar payout from CZ craziness and it's very common they go after these exchanges, shake them down in my opinion. But let me know your thoughts. But anyways, next story we discussed the Kucoin Fine. Now let's discuss the $250,000 target from just Blaze Arthur Hayes. Then the big story of the day, Czech Republic proposing a 7.3 billion dollar Bitcoin strategic reserve as the global hash wars continue. But first Arthur Hayes says the ugly bitcoin correction to propel the biddy to a quarter million this year 2025 with no material pullback. That's right, check it. Hayes says that the more likely path forward for the biddy is to drop by up to 32 for the current level before the massive rally. Quoting them here, I don't believe this bull cycle is over. However on a forward looking probabilistic basis I think we're more likely to go down to 70 GS to 75 GS Bitcoin and then rise to 250 by the end of the year than to continue grinding higher with no material pullback. Hayes says that after being bullish earlier this year, his giddiness has evaporated owning to bearish signals from the macroeconomic environment and the crypto industry. Quoting Just Blaze Arthur Hayes right here. Subtle movements between central bank balance sheet levels and the rate of the banking credit expansion. The relationship between the U. S ten year treasury stocks bitcoin prices and the insane official Trump meme coin price action produced a pit in my stomach. This is a similar feeling I got late 2021 right before the bottom fell out of the crypto markets. The Bitmax co founder says another reason for his change in sentiment is that the rate of increase of the money supply is in the world first, second fourth largest economies which have decelerated. Quoting them again, a pullback of this magnitude would be ugly just like Ms. Yell Le and Senator Warren because the current level of bullishness is so high. Trump continues to say the right things via executive orders, improve sentiment by parting in Ross Albert and stoke the dgen crypto spirits with his recent meme coin launch. That's awesome. I'll say that again. And stoked the degen crypto spirits with his recent meme coin launch. Pretty spot on but these things were mostly expected bar the meme coin launch. What is not being fully appreciated is the slowdown in filthy fiat creation impacts America, China and Japan. And there you have it coming directly from Arthur Hayes. Just blazed. Now for our feature story of the day. Big news. Czech Republic national bank governor to propose a 7.3 billion dollar Bitcoin reserve plan as the global hash wars coined by Max Kaiser. Continue. Bitcoin game theory in full effect. It's pretty little video going up. Nice pump in the market today. As you can see here in the headlines. This is a pretty big deal that Czech national bank may become the first European central bank to invest in Bitcoin as part of its diversification strategy for the country's foreign exchange reserves. Their governor, Alice Mikhail, is set to present his Bitcoin acquisition plan to the bank's board meeting Jan. 30. That will be tomorrow on a Thursday, according to the Financial Times. If approved, the investment may amount to over $7.3 billion of the Bitcoin purchases. Where do you think they're getting all this Bitcoin coin from? Given their total reserves of more than damn Jaina. 146 billion. Why are they so bearish now that I see how much money they have to play around with? Good lord, that's money. Now just to put that into perspective, these bitcoin purchases alone would be equivalent to around 5.3 months of the newly mined bitcoin supply. Let that one sink in, Broskis. I mean, what, There's a few hundred bitcoin being mined per day. They'd be buying up the supply for the next 5.3 months just from one acquisition from. From one country, one central bank. Mind boggling. It truly is. The news comes three weeks after he said he was looking at Bitcoin as a potential reserve asset and was considering acquiring a few bitcoin for the diversification. Well, I definitely define that 7.3 billion purchase as a few Bitcoin for sure. As of January 7, the bank said it was not considering a bitcoin investment. Then the advisor to the board told that he was adding that the bank planned to increase its gold holdings. That's a sucker's move. Do you know gold is the poor man's Bitcoin. If you don't know, now you know. But anyways, he announced all that here. You know, checks national banks goal is price stability. We took office, yada yada, yada, yada yada. And while bitcoin is an interesting asset we're considering for a large portfolio, the bank or the board for the bank will need to provide thoughtful analysis. Well, please don't get it from Garrett Solway. You know, if you're going to get analysis, get it from the nibinator indicator. I mean it's number one indicator, most accurate we've ever had since the inception of the Genesis block. But I digress. Trump administration's crow crow pro crypto regulation has set the stage for the bitcoin rally. We already touched upon this. So you already know those Trump guys can now kind of create some bubble for bitcoin. But I think the trend would be an increase without those guys as well because it is an alternative investment for more of the people. And while Bitcoin's prospects for 2025 remain promising, some such as Arthur Hayes, as I covered in the previous story, say we can drop all the way down, down to 70, 75,000 before the next leg up to 250,000. But I'd love to hear your thoughts. Every analyst is going to have a different perspective and that's totally cool. Reading with you some more tweets. This is from David Bailey, CEO of Bitcoin magazine. Check. Central bank meeting Thursday to vote on allocating up to 5% of their reserves into bitcoin. The United States cannot wait six months. Trump, we need to go now. All things on go. And Adam Maxi, Holy shiznit, holy schnikes. Based on the current trajectory, Bitcoin's purchasable supply will run out in August of 2027. The kicker this is with no acceleration, which is likely, no one is ready for this. And this ain't telling no lies. This is basically running the math that the current supply being bought up and scooped up tells us that if things were not to accelerate, in which we know for a fact they will accelerate because you have the Czech Republic, you have the United States of America, you have pension funds, you have sovereign wealth funds. All this bullishness. We know accelerations are coming, but without that acceleration we run out of bitcoin on the exchanges. August of 2027, there will be absolutely zero bitcoin to buy. So you're gonna have to bribe the hodlers for astronomical amounts to get to sell. The pity. Because no matter what amount you threw at me, I'd be like, I ain't selling no bitty. You don't sell your bitcoin. You know, I mean, so there you have it. I mean, that's a sign of the times. I love this chart because people always ask, when are we going to run out of bitcoin? Well, we have the smallest amount of bitcoin on the centralized exchanges available and it's only going to dry up. And when it dries up, super cycle. That's where gets crazy. We start ripping like the new Scotty Pippen and also Kentucky State. Yep. TJ Roberts says he'll file the bitcoin strategic reserve bill. So we're having the adoption game theory continues of the global hash wars around, around the world. But there you go, crypto bros and bitty baddies. Let me know your thoughts with some of that. Obviously very bullish. And we'll flip this mofo into a pump. Watch as I do Q and A for the next hour. Let me know if that's cool with the Brosis here. We may play some music videos as well. Then put the charts up. And don't forget to check out cryptonewalerts.net for the full premium experience with video and to participate in our live Q and A. And I look forward to seeing you you on tomorrow's episode. Hoddle.