1897: “Bitcoin Will Rise to $500,000 Before Trump Leaves Office”

Summary

Podcast Summary: Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
Episode 1897: “Bitcoin Will Rise to $500,000 Before Trump Leaves Office”
Release Date: February 5, 2025
Host: Justin Verrengia

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Introduction

In Episode 1897 of "Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News," host Justin Verrengia (JV) and his co-host delve into a comprehensive analysis of the current state of the cryptocurrency market. The episode, released on February 5, 2025, encapsulates a wide array of topics from significant Bitcoin acquisitions by nations to futuristic price predictions. The hosts aim to provide listeners with insightful discussions, notable quotes, and actionable information to stay informed in the rapidly evolving crypto landscape.

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Market Overview

Current Market Status
The hosts begin by assessing the current market dynamics, highlighting Bitcoin's consistent volatility. As of the live stream, Bitcoin is trading around $98,000, with significant daily fluctuations reminiscent of previous surges and corrections. The overall cryptocurrency market cap stands at approximately $3.23 trillion, with Bitcoin alone accounting for $1.944 trillion, maintaining a dominance of 60.3%.

Notable Market Movements

• Altcoins in Red: Ether (ETH) is down by 1%, XRP by 6%, and most altcoins are experiencing corrections.
• Top Gainers: Trump Coin leads the pack with a 7% increase, followed by Litecoin (3%) and Gala (2%). Notably, FTT Coin, labeled a scam token, also sees a 2% rise.

Quote Highlight (00:47):
"A lot of volatility in the market; we have ether down 1%. XRP down 6%. Mostly alts correcting." — Co-host

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El Salvador's Bitcoin Accumulation

Recent Purchases
El Salvador has significantly bolstered its Bitcoin reserves by purchasing an additional 12 BTC in a single day, bringing the total to 6,068 BTC. This move underscores the nation's ongoing commitment to integrating Bitcoin into its financial infrastructure.

Strategic Implications
Despite accepting a $1.4 billion loan from the IMF, President Bukele's administration continues to expand its Bitcoin holdings. The co-host emphasizes that Bukele is "playing 5D chess," suggesting a strategic approach to cryptocurrency adoption that aligns with national financial goals.

Quote Highlight (07:01):
"El Salvador stacked 21 of the BTC this week. The Bitcoin office said shout out to the one and only Stacy Herbert." — Co-host

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Mining and Hash Rate Challenges

Current Trends
The podcast discusses a dip in monthly Bitcoin production among major miners like Hut 8, Marathon, and Bitfarms, attributed to the rising hash rate and increased mining difficulty. Riot Platforms, however, reports a 2.1% increase in production due to new mining facilities in Texas.

Technological Advancements
Miners are upgrading their equipment and optimizing operations to remain profitable despite the challenging conditions. The difficulty in producing new blocks has surged by 27.8% since the last halving event in April 2024.

Quote Highlight (14:10):
"Hut 8's monthly Bitcoin production dropped 27% as it mined 65 BTC in January." — Co-host

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Rainforest Foundation US NGO's Bitcoin Reserve

Strategic Reserve Launch
The Rainforest Foundation US has announced plans to establish a strategic Bitcoin reserve, aiming to raise 100 BTC (approximately $10 million) to triple its operating budget and enhance rainforest conservation efforts over the next decade.

Purpose and Impact
The strategic reserve will support indigenous communities in South America by funding projects that protect ancestral lands and promote environmental conservation. Unlike other reserves, the funds raised will be directly utilized for the organization's initiatives rather than being locked away.

Quote Highlight (15:59):
"With inflation and dollar debasement, the money that the people have given us that we are holding in a reserve is losing value." — Suzanne, Executive Director, Rainforest Foundation US

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Ohio's Legislative Push for Bitcoin Reserves

New Legislation Introduced
Ohio Senator Sandra O'Brien introduced Senate Bill 57, proposing the creation of the Ohio Bitcoin Reserve Fund. The bill authorizes the state Treasurer to invest state funds solely in Bitcoin, mandating secure custody solutions and a minimum holding period of five years.

Broader Legislative Context
This is Ohio's second bill aimed at integrating Bitcoin into state finances, with previous proposals expanding the Treasurer's authority to allocate Bitcoin to reserve funds. The initiative is part of a broader trend, with 12 U.S. states currently proposing similar crypto investment bills.

Quote Highlight (19:37):
"Crypto will be the major part of the President Trump's term. When his working group issues recommendations, Ohio will be ready." — Co-host

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Trump Administration and Bitcoin Reserve

Administrative Priorities
According to Crypto Czar David Sachs, the Trump administration has identified the Bitcoin reserve review as a top priority. A working group has been established to evaluate the feasibility of a national digital asset stockpile, signaling potential federal-level integration of Bitcoin into national reserves.

Policy Implications
This focus aligns with President Trump's executive orders aimed at establishing a crypto working group and reassessing digital asset strategies, which could influence other central banks and government policies globally.

Quote Highlight (21:46):
"One of the things that the president instructed us to do was to evaluate the idea for the Bitcoin reserve. So that is one of the first things we are going to look at." — Crypto Czar David Sachs

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Future Predictions for Bitcoin

Ark Invest's Bold Forecast
Ark Invest has projected that Bitcoin will reach $1.5 million by 2030. This prediction is based on Ark Invest's bullish stance, considering a favorable regulatory environment and increased institutional access to Bitcoin.

Standard Chartered's $500,000 Target
Complementing Ark Invest’s outlook, Standard Chartered Bank forecasts that Bitcoin will surge to $500,000 by 2028, just before Trump's term ends. This projection is attributed to a more supportive regulatory framework and the proliferation of Bitcoin ETFs, which have significantly increased investor access.

Quote Highlight (22:35):
"Standard Chartered believes Bitcoin's volatility will temper, attracting traditional investors that were previously scared of the price swings." — Co-host

Implications of ETF Launches
The introduction of 11 Bitcoin ETFs in January 2024 has attracted $39 billion in inflows this year alone, facilitating broader investor participation and fueling price appreciation. Major institutional players like BlackRock have significantly increased their Bitcoin holdings, from virtually zero to holding approximately 5% of the circulating supply.

Quote Highlight (24:27):
"Standard Chartered’s prediction of $500k would result in a market cap of over $10 trillion, likely surpassing giants like Apple and Microsoft." — Co-host

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Conclusion

Episode 1897 of "Crypto News Alerts" provides listeners with an in-depth examination of the multifaceted developments in the Bitcoin and cryptocurrency sphere. From national Bitcoin reserves and strategic institutional investments to optimistic price forecasts, the hosts offer a thorough analysis that underscores the growing legitimization and adoption of Bitcoin globally. The discussions emphasize the importance of staying informed and prepared for various market scenarios, advocating for strategies such as "stackin' sats" amidst ongoing volatility.

Final Quote Highlight (26:09):
"Bitcoin separates money from state. Bitcoin kills the state." — Co-host

Listeners are encouraged to engage with the full premium content available on cryptonewsalerts.net for a more immersive experience, including live Q&A sessions and video content.

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Notable Quotes with Timestamps:

• Market Overview (00:47):
  "A lot of volatility in the market; we have ether down 1%. XRP down 6%. Mostly alts correcting." — Co-host

• El Salvador's Bitcoin Accumulation (07:01):
  "El Salvador stacked 21 of the BTC this week. The Bitcoin office said shout out to the one and only Stacy Herbert." — Co-host

• Mining and Hash Rate Challenges (14:10):
  "Hut 8's monthly Bitcoin production dropped 27% as it mined 65 BTC in January." — Co-host

• Rainforest Foundation's Bitcoin Reserve (15:59):
  "With inflation and dollar debasement, the money that the people have given us that we are holding in a reserve is losing value." — Suzanne, Executive Director

• Ohio's Legislative Push (19:37):
  "Crypto will be the major part of the President Trump's term. When his working group issues recommendations, Ohio will be ready." — Co-host

• Trump Administration's Focus (21:46):
  "One of the things that the president instructed us to do was to evaluate the idea for the Bitcoin reserve. So that is one of the first things we are going to look at." — Crypto Czar David Sachs

• Future Predictions (22:35):
  "Standard Chartered believes Bitcoin's volatility will temper, attracting traditional investors that were previously scared of the price swings." — Co-host

• Final Thoughts (26:09):
  "Bitcoin separates money from state. Bitcoin kills the state." — Co-host

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This detailed summary encapsulates the essence of Episode 1897, providing a structured and informative overview for those who haven't tuned in. The inclusion of notable quotes and clear section divisions ensures that readers can grasp the key discussions and insights shared by the hosts.

Transcript

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[JV]

Welcome Crypto fam to number one daily Bitcoin pod. In today's show, I'll be sharing the latest astrology for the Broskis as well as breaking news. El Salvador buys 12 more Bitcoin in a day, bringing their reserve to 6068 BTC. Also breaking news, Ark Invest confirms that Bitcoin is on pace to meet its 2030 price target of 1.5 million per coin. Also Sailor tweeted big strategy day with the B symbolizing Bitcoin. So big earnings report being announced by Micro Strategy today. We'll also be discussing monthly Bitcoin production drops as the miners fight the rising hash rate. As you know, hash rate hit a new all time high price follows the hash. Also, Rainforest Foundation US NGO plans a strategic Bitcoin reserve. Also, Ohio Senator introduces the state's second bill for the Bitcoin reserve. This is the second time we'll also be discussing the Bitcoin reserve review, a.

[Co-host]

Top priority for the Trump administration according.

[JV]

To the crypto czar David Sachs, which was breaking news yesterday. We'll also be discussing the Bitcoin price will rise to 500,000 per coin before Trump leaves office in 2028 according to Standard Chartered Bank. And the largest shareholder of that company happens to be Black Rock.

[Co-host]

We'll also be taking a look at the overall crypto market.

[JV]

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.net and yeah, today is pod episode 1897. I'm your host JV. It's February 5th, 2025. A lot going on in the market, lots of volatility. It's like we recapture a hundred thousand every day. When I go live, it seems to be this way. The current all time high was on inauguration Jan.20th in the morning before Trump got inaugurated. We hit the current price discovery level of 1093. Once we break that I Think we're, you know, smooth sailing, 120 to 130 price range. But right now we're stuck at 100 being the hump on hump day.

[Co-host]

Go figure.

[JV]

But anyways, let's kick it off with.

[Co-host]

Our market watch as we do each.

[JV]

And every day you see bitcoin pull back just a little bit. Maintaining above 982, lots of volatility in a market we have ether down 1%. XRP down 6%. Mostly alts correcting. And in the red and checking out coinmarketcap.com we have a market cap of 3.23 trillion. We have a Bitcoin market capital 1.944 trillion and we got roughly 158 billion worth of volume for the past 24 hours.

[Co-host]

And the Bitcoin dominance maintaining above 60 at 60.3%.

[JV]

Ether dominant same as yesterday, 10.4%. And checking out top 100 crypto gainers past 24 hours.

[Co-host]

Ironic enough, yesterday it was Melania Coin leading the pack. Today it's Trump coin up 7%.

[JV]

Very modest for a top gainer because virtually everything's correcting it in the red. But trump coins up but it's still trading at less than 19. I believe the top on this one is somewhere between 70 to 75.

[Co-host]

So a lot of investors got wrecked there as I anticipated.

[JV]

And we also have litecoin up 3%.

[Co-host]

And gala up 2% and then a scam token by the name of FTT coin up 2%.

[JV]

Go figure.

[Co-host]

But which also Feigny, are you bullish on for the bull Holla. And checking out the crypto bubbles we get the visual perspective on the day.

[JV]

For the broskis and as see rec city like 90% of the market in the red zooming out on the monthly.

[Co-host]

Does it get any better? No, it actually gets worse.

[JV]

Some of these alter down 20, 30, 40, 50%.

[Co-host]

So be careful with the coiner E Bros case and check it out, the crypto greed and fear index.

[JV]

Today we're 54 back in neutral. Yesterday 72.

[Co-host]

Last week at 72 and last month of 76 extreme greed.

[JV]

And today you can exchange one fiat.

[Co-host]

Monopoly dollar for one 21 sats.

[JV]

We're on block height number 882.

[Co-host]

Four hundred and eighteen we have 167. Five hundred and eighty two blocks until the next having. So put down the gats, pick up the SATs and pick up some bitcoin caps from my boy Sergio. Get a custom Bukele camouflage cap [e-mail] let them know JV sent you.

[JV]

You should be able to see this on your screen via TradingView via Coinbase. As you can see this is the one hour chart. 1, 2, 3, 4 consecutive red candles heading downwards for the past four hours as you can reflective of the chart. Checking out the four hour chart. This is live and in the flesh. You can see we still have that $130,000 target in play which is a beautiful thing. We do have some bear targets you.

[Co-host]

Got to be aware of all the way down to 68.

[JV]

I think it was Arthur Hayes just Blaze who said we can go revisit 70,000.

[Co-host]

I don't think that happens but I.

[JV]

Am also open minded enough to understand anything can happen right like this episode.

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[JV]

I don't have a crystal ball and there's no guarantee or certainty. We wake up tomorrow and that's just the dead honest truth. So be prepared for all scenarios. And do you have a strategy if we did crash to stack more sats and do you have a strategy? Do you have enough bitcoin to where you'll feel good if we raise right up to 130,000 this month, prepare accordingly. Yeah, I mean and zooming out, we'll check out the daily chart. You can see big red candle forming. Unfortunately yesterday was a big green candle. Like clockwork. As we continue to trade sideways here. Starting off February and zooming out from.

[Co-host]

The daily, let's check out the one week chart. We have the sexy cup and target in play sitting at 124G's baby.

[JV]

And I think we hit that here in February. I mean I'm optimistic. It's my favorite month of the year. I may be biased but it is what it is.

[Co-host]

And zooming out from the weekly, we check out the monthly.

[JV]

The monthly chart shows thus far. February thus far is red for the week, but more only five days deep. December, itty bitty green. November was the itty bitty corrective. I'm sorry, January was the itty bitty green. December was the itty bitty red and then the big bull Godzilla candle. The biggest we have seen on the monthly chart was in November.

[Co-host]

But there you have it.

[JV]

Yo, let me know your thoughts and headline here reads el Salvador buys 12 of the biddy in a day. Bring in the reserve to 6068 BTC.

[Co-host]

Take that IMF FDIMF.

[JV]

We don't need them a f the IMF. We gonna be okay. El Salvador has again stocked up is growing bitcoin reserve buying 12 of the Biddy and the last day amid the dip of the crypto markets BTFD Buchelli the country bought 11 Bitcoin on February 4th. My favorite number for just over 1.1 million.

[Co-host]

Removed a decimal it's another 1111. That's an 1111 1111.

[JV]

An average price of 101,000 per Bitcoin. It later purchased an additional 1 Bitcoin for 99 GS according to the government's bitcoin office tracker. It brings the Central American country's holdings to a total of 6068 of the biddy vowed at over 554 million at today's prices. El Salvador stacked 21 of the biddy this week. The bitcoin office said shout out to.

[Co-host]

The bitcoin office which is ran by.

[JV]

The one and only Stacy Herbert which also showed the country had purchased 60.

[Co-host]

BTC over the past 30 days.

[JV]

So my question for you, since Bukele accepted the IMF deal for the 1.4 billion dollar loan, did they cut back.

[Co-host]

On bitcoin adoption or have they increased it?

[JV]

You answer Broskis. The first strategic bitcoin reserve in the world keeps growing and so El Salvador keeps a winning. That's a w shout out to the bitcoin office. Bitcoin fell to a 24 hour low of 96 GS but we're currently back above 98 at the time of the live in that ballpark the other day.

[Co-host]

We flipped all the way down to.

[JV]

91 flash crash and then within a few hours we're right back at 100 2. The extra Bitcoin bias comes after President Bukele struck that 1.4 billion finance and agreement with the IMF last month where he agreed his government would step back from some of its bitcoin initiatives. Some of the changes made by the country included making private sector acceptance of bitcoin voluntary. Now I have to address this because it was always voluntary. You have the option when you visit bitcoin country or if you live there to pay with bitcoin or US dollars.

[Co-host]

And some vendors are not accepting bitcoin. I know cuz I had ice cream for dessert and I asked a local ice cream vendor do you accept bitcoin? And she said no.

[JV]

And so what I do, I paid with cash.

[Co-host]

So locals have the option.

[JV]

They don't all.

[Co-host]

They weren't forced to only use bitcoin as a form of payment.

[JV]

People get to choose.

[Co-host]

Some of them do it, some of them don't. It's hit or miss.

[JV]

So some of this wording is very misleading. But one of the things I did get the inside scoop on is a lot of the locals aren't big fans of the Shivo Wallet and they are going to unwind this private sector wallet.

[Co-host]

Which is not necessary. There's alternatives which are superior.

[JV]

You have the Strike Wallet, which is Jack Muller's company, which has their headquarters in El Salvador. You also have Exodus and you can.

[Co-host]

Use any Lightning Wallet. It's irrelevant. You don't have to use the government endorsed private sector Shivo Wallet.

[JV]

However, I'm also aware of the benefits. They eat the fees. I know because I hung out with some gangsters that are doing their thing, some badasses. When I say gangsters that actually run shop over there and they straight up told me if you use the Shiva wallet, it eats the fees. That's one of the advantages.

[Co-host]

However, when I purchased the pupusas for 10 cents, want to know my Lightning Network fee?

[JV]

Because I use the Exodus wallet.

[Co-host]

Two pennies, instant transaction.

[JV]

I just scanned the barcode from that guy's phone.

[Co-host]

Who?

[JV]

The vendor who received it with the Shivo Wallet.

[Co-host]

Ten dollar transaction, two penny fee, instant, instant.

[JV]

So I mean, I'm not complaining. Two pennies for a transaction fee, no problem.

[Co-host]

But anyways, Reuters reported John 29 that.

[JV]

El Salvador's Congress swiftly approved legislation to amend the bitcoin laws to comply with the IMF deal, which Bukele had sent just minutes earlier.

[Co-host]

My understanding is Bukele is playing 5D chess and he is able to just purchase more bitcoin, which his actions have shown us since striking the deal going from purchasing one bitcoin a day, hey, let's do 11, let's do 12. And that's precisely what's happening.

[JV]

So it sounds like they're making it even faster.

[Co-host]

The adoption, that's the bigger picture. Who cares about them winding down the Shivo Wallet? Who cares? The bigger picture is they're stacking sats. And that's what it's all about. And that's what the United States needs to do now. National Bitcoin office director Stacy Herbert, the one and only, shared in December to say that the country's bitcoin plans have not changed. And I can echo that sentiment because I was just there, I was speaking to the local people, and that's precisely correct. And you can look at Bukele's actions.

[JV]

Versus the FUD which the IMF likes to spread, which we know is fear, uncertainty and doubt.

[Co-host]

They don't like bitcoin, the IMF and they trying to make it seem bad and that if Bukele did all the wrong things so that other countries don't adopt it, it's called foot. Now the Bitcoin office spokesperson also shared that the country intends to keep buying Bitcoin with plans to intensify in 2025. And I read you one of the.

[JV]

Quotes from Max regarding Bukele's plan of purchasing so many tens of thousands of bitcoins.

[Co-host]

So they're not slowing down. Adoption is not slowing down. Don't get it twisted.

[JV]

Bukele just has more ammo to buy.

[Co-host]

More of the biddy. Simple and plain.

[JV]

And also Ark Invest just confirmed the Bitcoin is on pace to meet his 2030 price target. And if you remember the bull case.

[Co-host]

For 2030 is one and a half.

[JV]

Milli and their base case is 710 million while their bear scenario is 300,000 per coin. Let me know if you agree disagree with Cathie Wood and Argon Vest and also Mikey Sail. Very cryptic. Earlier today he tweeted big strategy day and obviously the being big is a bitcoin and I think there is supposed to be a earnings report for Microstrategy today.

[Co-host]

So let's see what the big news is.

[JV]

Stay posted there family and again welcome everyone anyone just joining the live stream. Good to have you here live and in the flesh.

[Co-host]

Next Headline Monthly Bitcoin Production Drops as Miners Fight the Rising Hash Rate that's right, the hash rate just hit a new all time high. The Bitcoin miners reported a drop of the monthly production as mining difficulty is the computational power required to confirm the B transactions to mine the new blocks continue to increase Bitcoin production for prominent Bitcoin miners include Hut 8, Marathon and Bit Farms saw a dip in January compared to the last month of 2024. In contrast, riot platforms recorded a 2.1% increase of the biddy production and now bugging the trend. And throughout January the difficulty of the bitcoin network ranged around the all time high value of 110 trillion. The difficulty in producing new blocks have increased 27.8% since the last having event on April 20th, 2024. Foreseeing this need for increased computational power, Bitcoin miners have been upgrading their equipment and streamlining their business operations to remain profitable. Compared to December of 2024. Hut 8's monthly Bitcoin production dropped 27% as it mined 65 bitty in January. Similarly, Marathon and Bit Farms recorded 12 and a half and 4.7% decrease in monthly bitcoin production respectively. Riot Platforms commissioned a new mining facility over in Texas in January to initiate the larger scale 1 GW development for their Bitcoin mining. As they shared in their announcement from their CEO, the Corsiana facility reached a deployed hash rate of 15.7 exahashes per second towards the end of the month. We also continue to see strong results from the newly deployed miners and immersion systems reflected in the significant improvement in our operational hash rate and utilization rates.

[JV]

Meanwhile, Asher, the CEO of Hut 8, announced the new completion of the infrastructure upgrades that should improve its overall mining.

[Co-host]

Capacity in the coming weeks.

[JV]

And on the other hand, the bitcoin.

[Co-host]

Mining hash rate is expected to decline due to the reduction in mining difficulty.

[JV]

And fewer pre orders for the hardware. Mining and mining difficulty fell to 108t in the last week of January while maintaining a hash rate of approximately 832 terahashes per second. So there you have it and if.

[Co-host]

You don't know now, you know.

[JV]

Next headline let's break her down. After the freeze frame of course. Rainforest Foundation US NGO Plans a Strategic Bitcoin Reserve Send it Strategic Bitcoin reserves and Bitcoin based Treasuries are all the rage these days as 14 states, the U S Government, El Salvador and other.

[Co-host]

Countries and a handful of the banks.

[JV]

And corporations have publicly announced or proposed plans to launch reserves. Strategic Bitcoin reserves that is. While the reasons for creating the Bitcoin backed Treasuries are many, the Rainforest Foundation U S is creating one with the goal of tripling its operating budget and.

[Co-host]

Its rainforest conservation efforts over the next decade. Let's go.

[JV]

Host of the Agenda podcast, Jonathan DeYoung spoke to Rainforest Foundation U S Executive Director Suzanne to learn more about its.

[Co-host]

Goal of raising 100 bitcoin, which is.

[JV]

Roughly 10 million at a hundred thousand per biddy, as well as to explore.

[Co-host]

The NGOs 37 year history of helping.

[JV]

Indigenous peoples in South America protect their.

[Co-host]

Ancestral land rights and the rainforests of.

[JV]

Peru, Brazil, in Guyana. That's what's up.

[Co-host]

And when asked about the reasons for forming the Bitcoin treasury, called the treasury.

[JV]

For the Trees, she said the Rainforest foundation wants to raise the equivalent of its 10 million 2024 annual budget as the NGO had realized that the cash.

[Co-host]

In our bank account is just losing value, hence the Melting ice cube effect. Quoting her here, with inflation and dollar debasement, the money that the people have given us that we are holding in a reserve is losing value. We were inspired by looking at the companies, particularly of course Microstrategy and other for profit companies that are looking at adding Bitcoin to the Treasury. So we wanted to take that model to the non profit sector. Bitcoin for the non profits winning. Regarding the timing of the strategic Bitcoin reserve launch, she said we just think with the market cycles, with bitcoin it makes sense to do it now. I agree now is the time at this point in the having cycle it looks like there could be a potential for a lot of appreciation this year. So we wanted to launch at this point, this point regulatory changes and obviously the price action. We just saw this as an important moment to launch as soon as possible. Most of the proposed bitcoin strategic reserves have stipulations that the acquired Bitcoin cannot be spent for a specific number of years or in the case of the US redemption can only be used to pay down the national debt. The Rainforest foundation bitcoin treasury differs and.

[JV]

That collected funds would be used for.

[Co-host]

The organization's various initiatives all across South America. She also said the foundation's tutorial monitoring work at the community level in Peru costs $2 an acre per year. So with one Bitcoin donation you can help support local communities protecting 50000 acres for one year. I got one word that comes to mind. Ayahuasca Broski. The rainforest.

[JV]

Let's go in.

[Co-host]

Additional information for the NGO website details. The $147 worth of the Bitcoin provides satellite monitoring for 50 acres of rainforest. You hear the chairman of the SEC going wild downstairs. Nipinators growling and everything. I wonder if the lizard folks. I wonder if Gary is up to something. Warren. Somebody check on Elizabeth Warren anyways.

[JV]

Yeah, I mean.

[Co-host]

So for a very small donation you can help protect a lot of the indigenous people's lands. I'm all for that. It sounds pretty awesome. She said The Rainforest Foundation US differs from other NGOs and charities that have the tendency to be more land conservation focused than people focus by supporting indigenous people on the front lines of rainforest protection and by standing in solitary and those who call the rainforest home. The Rainforest Foundation U. S uses funds to support the international local indigenous teams by strengthening organizations providing legal technical advocacy support for the indigenous people, ancestral land rights and the environmental conservation. And quoting them again here. All of our work is done in partnership with the indigenous peoples and the indigenous partners that we work with. A lot of times what we do is co create projects and then we take as an organization for try to the funding. We don't have to come in with an agenda. We always work with partnerships with not just consultation but partnership with the communities. Well, that's important. We got to do what's in the best interest of the people, especially if that's their home in which it is. Shout out to the indigenous tribes across South America, across Central America, across Puerto Rico and across the land. You feel me?

[JV]

We're going to discuss Ohio Senator Introduces the State's Second Bitcoin Reserve Bill as you can see in your screen, Ohio lawmaker introduced the second bill to allow the state to invest in the biddy to create local reserve of the crypto Ohio Senate Bill 57, referred to as the final institution's Insurance and technology committee.

[Co-host]

For Jan. 29, authorizes the state Treasurer.

[JV]

To invest state funds solely into the bitcoin to create the Ohio Bitcoin Reserve Fund.

[Co-host]

It requires Bitcoin investments to be held.

[JV]

For at least five years and mandate.

[Co-host]

Secure custody solutions for holding the asset.

[JV]

Ohio Ohio Senator Sandra O'Brien introduced the.

[Co-host]

Bill Jan.28 and wrote that the crypto world is here. Ohio needs to be the leader.

[JV]

Crypto will be the major part of the President Trump term. When his working group issues recommendations, Ohio will be ready. Donald Trump signed the Executive Order, as you know, Jan.23rd, establishing a crypto working group to evaluate, amongst other things, potentially creating a national digital asset stockpile.

[Co-host]

The Ohio bill also requires state entities and government agencies to accept crypto for payments, including taxes, fees, fines and other government charges. However, you huddle your bitty and when you got to pay those taxes, use the dirty fiat money Family. I'm just saying. It also stipulates that when agencies receive crypto, they must convert it to the bitty and transfer it to the reserve.

[JV]

It also establishes a process for Ohio.

[Co-host]

Residents, state agencies, state universities to donate the bitty to the fund and allows the Treasurer to create recognition program for significant owners.

[JV]

The SB57 is one of the many.

[Co-host]

Bitcoin related bills to be proposed in the state. In December, Ohio House Republican Leader Derek Marin introduced the HB703, the Ohio Bitcoin.

[JV]

Reserve act, which would give the state.

[Co-host]

Treasurer the option to allocate the biddy to a reserve fund, quoting them here. The US Dollar is being rapidly devalued and our state Treasurer should have the authority and the flexibility to invest in the biddy when determining the proper asset Allocation September, Ohio senator Niraj introduced a bill allowing the state to accept the crypto for the payment for the taxes and the fees. The number of the U S States proposing crypto investment bills is adding up. Late January, Utah House committee passed a bill that would allow the state to invest a portion of the public funds into the crypto. And Ohio is among just 12 U.S states that have proposed bills. I think it's up to 15 now just FYI, given the local treasury's permission to buy the crypto assets. And two more, Arizona and Utah have bills that are in the progress according to the bitcoin reserve monitor. As you can see right here. Live it on your screen. And there you have it baby Broskis, I mean let me know your thoughts. With the adoption as the game theory and the hash wars continue to play out across the globe.

[JV]

Headline reads bitcoin reserve review is top priority for the Trump administration according to.

[Co-host]

The crypto czar David Sachs.

[JV]

And hopefully you guys actually watched that speech and I'm just gonna read you the highlights. Here's what he said verbatim.

[Co-host]

One of the things that the president.

[JV]

Instructed us to do was to evaluate.

[Co-host]

The idea for the bitcoin reserve. So that is one of the first things we are going to look at as part of the internal working working.

[JV]

Group of the administration.

[Co-host]

So as soon as we get all.

[JV]

That set up, we are still waiting for some cabinet secretaries who are on.

[Co-host]

The working group to get confirmed. So we are still in the very early stages of this.

[JV]

But that is one of the first.

[Co-host]

Things we're going to look at. It is the feasibility of the bitcoin reserve.

[JV]

I think the concept of the sovereign.

[Co-host]

Wealth fund is a little separate.

[JV]

So he's ultimately saying the bitcoin strategic reserve is a separate thing and they're.

[Co-host]

Looking into the feasibility which again is.

[JV]

Kind of like it's not saying that.

[Co-host]

We'Re doing it, it's saying we're entertaining it.

[JV]

Ultimately they're looking into it. And on the campaign trail, Trump said.

[Co-host]

His administration would stop selling its trove of seized bitcoin. That's a step in the right direction.

[JV]

Unlike the Biden administration who has been dumping all the biddy to ultimately tank the asset. And then there's a new proposal from Republican senator Bill Hagerty calling the guiding.

[Co-host]

Establishing national innovation, the US Stable coins Act, aiming to clearly define stables and.

[JV]

Require issuers to provide audited reports that meet the capital reserve requirements. Now for our featured story of the day.

[Co-host]

As the headline reads bitcoin price will rise to $500,000 per bitcoin before Trump leaves office. Which means by the year 2028 according to Standard Chartered bank primary shareholder BlackRock FY if you don't know, now you know. The British multinational bank Standard Chartered predicts that bitcoin will soar to 500,000 before before Trump leaves office as president of the U. S. The price increase. This price increase the bank believes will come as a result of a friendlier regulatory environment and greater access to the asset. What does that mean? Now that Gensler went home and got his shine box, Bitcoin can shine. Let's go. Standard Charter believes The Bitcoin will hit 200000 per coin this year 2025. Steadily increase in the 300000 per coin next year in 2026 extended bull run scenario. 400000 by 2027. Hell yeah. And then 500000 in 2028. So I guess they're ultimately predicting a four year bull run. Send it when it believes bitcoin will plateau finally in the next year. So I guess they believe it will plateau then so be it.

[JV]

Bitcoin's currently at around 98 at the.

[Co-host]

Time of the live stream. So a 43 increase from its price of 68.8before Trump secured the electoral victory in November.

[JV]

It's crazy to even fathom that we were 68 GS back in November just a few months ago Broskis. So yeah, Standard charters prediction of 500G's would be a 407 increase from this position. In this scenario Bitcoin would have a market cap of 10 and a half.

[Co-host]

Trillion likely surpassing Apple and Microsoft at the process. And at this price it would also account for roughly half of gold's current. Damn.

[JV]

Is the gold market cap that high now?

[Co-host]

It's climbing 19.4 trillion. Let's go.

[JV]

I think there will be a great flipping and I do believe bitcoin could.

[Co-host]

Be multi millions by that time. The primary reason the Standard Charter believes the biddy has room for growth is due to the increase in investor Access following the January 2024 introduction of the Bitcoin ETFs.

[JV]

As you know, January 11th of 2024, 11 ETF spots for the biddy went.

[Co-host]

Live in the United States of America and now BlackRock has like 5% of the circulating supply. Just like that. And they had zero. So thank you Larry Fink for pumping the bags. I'm just saying now go home and.

[JV]

Get your shine box there Larry.

[Co-host]

And quoting Geoff Kendrick of Standard Chartered, he says the ETFs have attracted a.

[JV]

Net 39 billion of inflows thus far this year. Well since the inception last year Supporting.

[Co-host]

The theory of the pent up demand is being unleashed by the increased access.

[JV]

Send it Kendrick and we're not talking.

[Co-host]

Lamar adds that the US regulatory environment is getting friendlier and friendlier now that Gary is out. The repeal of the Staff Accounting Bulletin. No more war on crypto. Thank you. Thank you for that.

[JV]

The guidance that required the companies record.

[Co-host]

Digital assets as liabilities. Well guess what? It's not a liability, it's an asset. Want to know what a liability is? A melting ice cube we call fiat. Take that lizard folk. Trump's January 23rd order that the administration evaluated potential national digital assets stockpile is important as this could encourage other central banks to consider the Bitcoin investments. Just note Bitcoin existed before the state. Bitcoin separates money from state. Bitcoin kills the state.

[JV]

One of my favorite Max Kaiser quotes by the way.

[Co-host]

And it's so true.

[JV]

If this starts to come into fruition, Standard Chartered explains that Bitcoin's notorious volatility.

[Co-host]

Will temper which will attract traditional investors that were previously scared of the price swings. If you're scared of the price swings.

[JV]

Are you like some people view volatility.

[Co-host]

As that's like I guess it's the.

[JV]

Propaganda term in the mainstream.

[Co-host]

But Bitcoin is so volatile. That's why we fucking love it. The volatility is an opportunity. The volatility is the life force. Volatility is fantastic when Bitcoin is up 100 million percent since the inception and continues to go up forever. Laura I welcome the volatility. In fact I'm not interested in the asset with no volatility stable coin? No thank you. I prefer bitcoin. Embrace the volatility fellas is all I gotta say. As volatility falls they say the bitcoin share of the optimistic two asset portfolio of the gold increases investor access and lower the volatility should lead to the price appreciation for the longer term as the portfolios continue to move towards their optimal logical state. And there you have it. And if you don't know now you.

[JV]

Know Crypto Bros. And don't forget to check out crypto news alerts.net for the full premium experience with video and to participate participate in our live Q A and I look forward to seeing you on tomorrow's episode Hoddle.