
A full transparent audit of The Fort Knox gold supply could absolutely trigger the Bitcoin price to skyrocket to $5,000,000 per coin.
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Welcome crypto fam to no.1 Daily Bitcoin Pod. In today's show I'll be sharing the latest Bitcoin technical analysis aka astrology for the Brosis as Bitcoin's currently correcting and in the red sub 95,000. We'll also be taking a look at the overall crypto market, discussing FTX's 1.2 billion repayments mark a key moment in crypto industry recovery as well as Senate of Texas to hold a hearing on establishing the Strateg Bitcoin reserve. We'll also be discussing Argentine President Javier Malay denies promoting the failed Libra meme coin. I'll be breaking all these things down for you as well as poly markets bets on Fort Knox audit as reserve debate heats up. I'll be sharing these latest odds. We'll also be discussing the Fort Knox audit can send a Bitcoin price skyrocketing to $5 million per coin. Also be sharing the latest from the Gigachad Michael Saylor. 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.net today is pod episode 1900 and nine. I'm your host JV. It's February 18, 2025. Markets are correcting. We're in the red just sub 95, 000 at the time of the live stream. Let's kick it with our market Watch as we do each and every day. You should be able to see on your screen coin360 slight correction on the biddy down 3/4 of a percent which is practically nothing. We'll probably flip back green before the end of the stream. Ether down 3% BNB down 5% Solana down 8% as the majority of the also cracked in out coinmarketcap.com the current crypto market cap sits at 3.1 trillion. We've been back on the decline Bitcoin market cap $1.877 trillion we got roughly 96 billion worth of volume for the past 24 hours and the bitcoin dominance back on the climb above 60.5% with the ether dominance at 10.3%. Checking out top 100 crypto gainers past 24 hours. We got mantle maker and Pith leading the pack with very modest gains as the majority of the market is correcting and in the red checking out crypto bubbles. We get a visual perspective. Let's start on the day and then we'll work our way out. Practically everything I'd say Safe to say 95% of the market correcting for today. Zooming out on the monthly very similar only it's only it's more rec city as some of these alts are down 20, 30, 40, 50, 60% in the past 30 days. Be careful with the coinery and checking out the crypto get inferior x Today we're rated a 47 neutral, yesterday 51 last week of 47 and last month of 77 and extreme greed and checking out the time chain Calendar we have 165, 675 blocks until having a 2028. We're currently on block number 884325 and you can currently exchange one fiat monopoly dollar for 1046sats. So stack the sats, put down the gats and pick up some bitcoin caps from my boy sergio over@bitcoincaps.net let let me know what you think of the new CNA cap that I'm rocking here today. But anyways let's dive into today's astrology for the broskis and we'll also pull up the live charts as we always do. This particular headline reads here Bitcoin teases August 2023 breakdown as analysis eyes 85000 do you think we likely correct down to here? Let me know your thoughts as I read the latest. The bitcoin price action has really been so range bound and while the volumes are Dropping market participants are breaking for the shakeout crypto quant shared the atmosphere is reminiscent of August 2023, highlighting readings from Bitcoin's choppiness index. He noted at the time the return of volatility brought a snap drop before the bitcoin market embarked on a multi month uptrend. Quoting them here, Our choppiness index on both the daily and the weekly chart is quite unstable, meaning it urgently needs to enter a trend suggesting a more aggressive movement to either side of the box. Evidence of this pressure is the 90 day range that Bitcoin was found with fluctuations ranging around 16% from the maximum to the minimum of the lateral range. As you can see line right here on the charts. Now per Civical added that in 2023 before the uptrend price cleared all traders of boring positions in the opposite direction due to the low volatility, further strengthening the case for a major liquidity grab to come. The choppiness index has seen multiple local peaks over the past six months as bitcoin inter. What's that word? Intersperses periods of rapid gains with the grinding consolidations. And as you know 1093 is the current all time high. So Once we enter 110 we're back in price discover. But let's dive a little deeper into the $85,000 floor considering potential price fluctuations should the 2023 scenario kick in. They flag the short term hodler cost basis at 92 as the level of interest should this fail. The 200 day exponential moving average is currently sitting pretty at 85 GS as outlined here. The possibility of the false moves before the bull run is pretty strong. Many breakout traders are positioned in these zones and the sovereign market tends to blow up to these positions and return to the expected course. So there you have it. Meanwhile, the spent output profit ratio metric which measures the proportion of unspent transaction outputs shows the short term huddlers NTT transactions and profit or loss reflects its mildly negative values from August of 2023. A little reminiscent there. So let's also pull up some of the live charts and again welcome everyone joining us. The charts we pull up is via trading view via Coinbase. This is the one minute. So we're gonna zoom out and go from the one hour and work our way out. So as we can see here on the one hour chart we do have some bull trajectory here. A red target as you can see on your screen sitting just shy of 104000 yeah. And zooming out from the 1 hour, the 4 hour chart still has the sexy 130000 target in play which you can see in the orange and we also have the red bul again just shy of 104. Very similar to the one hour chart. We do have a rising wedge formation. We do have some bear targets as well. You need to be aware of one at 93777 and the blue one at 81799. Let me know where you feel the price action will likely take us next. Looking at the daily chart as you can see obviously corrective red thus far today yesterday was red and the day before was red. So past three four days have been red as we continue to range sideways here sub 100G and zooming out from the one day checking out the weekly we have the sexy cup of handle target sitting at 124,000 and we've also had the most recent weeks. As far as the closes we have been bearish as well and you know we just had a Sunday candle, another bearish candle but nonetheless zooming out from the weekly take a quick look at the monthly and the monthly chart as you can see on your screen is forming red thus far for the month of February historically year preceding the having Bitcoin has historically bullish in the month of February, but the tail of the tape we still have two weeks left before we end the month. So anything can happen with between now and the end of February. But you guys let me know your thoughts where you feel the Bitcoin prize action will likely take us next and I'm happy to read your comments out loud next. Story of the day headline reads FTX is 1.2 billion repayments marquee moment in the Crypto industry recovery about time. It's been several years since this all went down. FTX Digital Markets, the Bahamian unit of the collapsed crypto exchange FTX is set to repay the first group of creditors on February 18, which is today. In a significant development for the crypto industry following the exchange's almost 9 billion dollar collapse, the downfall of FTX and more than 130 subsidiaries launched a series of insolvencies that led to the industry's longest ever crypto winter, we saw bitcoin price bottom all the way down to 16 GS. We've come a long way since then and almost up. In a key moment for the crypto industry recovery, FTX's Bahamas wing will honor the first batch of repayments for users who are owed less than 50, 000 worth the claims. Users will receive their funds at 3pm Eastern or not? Eastern UTC. I'm not sure what time zone that is, but that's today. According to the post from FTX creditor Sunil, who is part of the largest group of more than 1500 FTX creditors, the FTX Customer Ad Hoc Committee, the repayments will bring an estimated 1.2 billion worth of capital to the first wave of defrauded FTX users. Thank you, Sam Bankman Freed. The FTX repayments are being viewed as a positive signal for the crypto industry recovery. According to Alvin Ken, chief operating officer at Bitet, the 1.2 billion repayment may see a significant portion reinvested into crypto, hopefully the bitty, potentially impacting the market liquidity and the prices. So my understanding is, if hypothetically you had a bitcoin sitting in the FTX exchange, you lost that bitcoin and they're paying you the fiat equivalent at that time, which was at the bottom of the market, which was like 16,000. So you don't get your one bitcoin back, you get the fiat equivalent at that time, which was roughly $16,000. So virtually everyone still gets screwed. That's my understanding of it. Correct me if I'm wrong quoting them here. This event could boost investor sentiment by demonstrating market recovery from the FTX collapse. Though the sentiment might be mixed due to the payout being based on the lower 2022 valuations. Precisely what I thought and precisely what I just shared. So it's based on the bottom of the winter prices when Bitcoin was roughly between 16 to 20,000. So everyone gets screwed. The scale of this repayment marks a notable event in terms of both capital flow and the psychological impact on the crypto investors. Despite the positive news, creditors have criticized the repayment model and they should, which reimburses claimants based on crypto prices at the time of the bankruptcy. My understanding, if you put in one Bitcoin, you should receive one bitcoin back. They're screwing everybody. Bitcoin prices, for example, increased by more than 370% since November of 2022. Precisely what I'm trying to say. That was the bottom of the market. And while the first FTX repayment represents a significant step forward, the capital may only have a limited effect on the crypto market. While it may not be a market moving catalyst, the first FTX payout represents a significant victory for justice and overall market sentiment. I guess I mean, better than nothing. The collapse impacted many investors and cast a shadow over crypto. Thank you, Mr. Gensler. For retail investors, especially out diversified portfolios, these repayments offer not just the return of the funds, but a sense of stability and peace of mind. I wouldn't feel so peaceful if I had one bitcoin on the exchange and I only got a return of 16,000. I'm just saying. But I guess again better than Nothing. Since the first batch of what can you buy 01 Bitcoin with what you lost? Since the first batch of the repayments is limited to the creditors with claims under 50 GS, the reinvestment rate into the crypto assets may be relatively low. Many recipients may opt for safer investments rather than re entering the volatile digital asset market. FTX repayment process remains ongoing with larger creditors waiting for their announcements regarding their claims. And just another great reminder to not keep your bitcoin on the exchanges as hits the fan. They steal your crypto and they repay you back the fiat equivalent at the bottom of the market if you're even lucky enough to get it back years later. Which is precisely what the FTX people are experiencing right now. But anyways, let's continue with the news. We do got a lot to share here today as always, so here's the latest with Texas and the Strategic Bitcoin Reserve. Headline reads Texas Senate to Hold a Hearing on Establishing the Strategic Bitcoin Reserve the Texas Senate will convene a public hearing tomorrow to discuss the establishment of the Strategic Bitcoin Reserve. The initiative, authored by Republican Texas State Senator Charles Schwartner, aims to diversify the state's cash reserves by incorporating the bitcoin holdings. The proposed legislation would authorize the state comptroller to invest in cryptos provided they meet certain criteria. At this time, Bitcoin is the only crypto with a market cap larger than a half a trillion over the past 12 months, making it eligible for the reserve. Smart little rule they have there. It'll keep the coinery away. In Georgia, Senate Bill 178 was recently introduced and according to the reports, should the legislation become law, it would allow the state treasurer to invest up to 5% of the state funds into the biddy. And some states like Wisconsin have already been holding bitcoin based products for some time. And while state legislators make moves to adopt the biddy, the Trump administration's crypto czar David Sachs says the federal government is also taking a look at it. We got to do more than just take a look. You need to embrace thy bitty, david Sack said. The President's new Working Group on Digital assets will first consider whether The U. S. Government should hold bitcoin as a strategic reserve asset. The answer is yes, it's just a matter of taking action. But quoting them here, one of the things that the president instructed us to do was to evaluate the idea for a bitcoin reserve. So that is one of the first things we're going to look at as part of the internal working group of the administration. So he says one of the first things a priority. So as soon as we get all that set up, we're still waiting for some cabinet secretaries who are on the working group to get confirmed. So we're still in the very early stages of this, but that's one of the first things we're going to look at is the feasibility of a bitcoin reserve. I think the concept of the sovereign wealth fund is a little separate. So there you have it. Do you think Trump will actually sign a bill for a strategic bitcoin reserve for the United States or do you think it'll get watered down by including all cryptocurrencies like Trump coin, Melania coin, Libra coin Hawk to a coin. I know I'm exaggerating a little, but you see thy point. Let me know. Because initially when he gave the speech in Nashville, he said establishing a bitcoin strategic reserve for the US and then he changed the languaging more recently and said crypto strategic reserve, which leads me to believe they're going to include other cryptocurrencies and not focus on bitcoin, which is a damn shame. But let me know your thoughts. How do you think that will likely fare out? I think the bitcoin adoption will come from the state level as we're witnessing now over 30 states adopting Bitcoin or proposing bills to adopt bitcoin some way somehow Texas, Florida, Wyoming and the list goes on and on. The majority of the states already. But anyways, next story of the day, let's discuss this Libra rug. There's actually a big story, one of the biggest ones. Let me know if you guys got to watch that Coffeezilla interview with the dev who is the dev for the Libra failed rug project working directly with Malay. He did about an hour interview with Coffeezilla yesterday. I actually watched it twice. I watched it again last night just for some more clarity. But anyways, this headline reads argentine president Javier Malay denies promoting the fail Libra meme coin. He can't even take responsibility for what he did. To me, that's not a good look. That shows dishonesty. If he would have just Admitted and apologize. In my humble opinion, it'd be a better look, but you let me know your thought. Someone wrote here, malay refuses to apologize for the libra meme coin scam, quoting Malay if you went to a casino and lost money, what's the complaint? Our on promoting the scheme. I didn't promote it, I spread it. As if spreading it and promoting it is a different thing. He says I use my personal account. But you're the president. His lawyer then interrupts the interview. Just not a good look. Malay so I'll give you some more insights here. Max wrote 5 years in prison term according to the u. S. Law for criminals doing fraudulent activity of selling aka promoting or sharing unregistered securities. And all over Max's timeline, you'll see he's quoting the law. He's not making that up. By the way, if you do promote unregistered securities, it is like a serious crime in the United States. And naturally he was promoting it to people all across the world, including those in the U. S. Now I wrote here in which Max reposted, endorsing, sharing and promoting are all in the same boat. Ultimately using your influence as president to give retail investors who trust in you wrecked. Not a good look when you're the president of a country with 46 million plus people who look up to you. He just tarnished his entire reputation for life with this rug pull. Was it really worth it, Javier? You could have just embraced bitcoin instead and been the savior of your people. And I do genuinely believe this. I mean, I just don't get it. And there's a great meme here. You remember Clinton? I didn't inhale. And then Javier, I didn't promote it, I just shared it. Yeah, tell it to the judge. I also wrote, I propose Malay apologize. This is what I would do. This is what I recommend he do. Not that he has to listen to me. Who am I? He's the president. But here's what I propose. Malay apologizes publicly for endorsing and sharing the libra coin in which his own dev admitted wasn't intended to benefit retail investors but only the insiders, according to his own interview with coffee zillow, which I listened to twice. And that this dev, who still has access to the 100 million plus puts it all in bitcoin and then returns the bitcoin to the retail investors who got wrecked. As bitcoin is mathematically guaranteed to increase your purchasing power and over time will make up for all the billions of dollars in losses as a Result of promoting this scheme coin. And then Martin Shkreli is reminding them 10 to 15 jail ain't that bad. Remember, five years is the statue of limitations. Crazy, right? And I also put a poll up who did the best meme rug and it looks like Hawk tua takes the cake. 38.5% Malay with the Libra coin 33 Trump 24, Melania 4.3% and here's a great meme in Bukele we trust 2024 Trump says I'm a bitcoiner. And then the next year launches his own meme coin. Malay in 2023 I'm a Bitcoiner. And in 2025 launches his own meme coin Bukele in 2021 declared I'm a Bitcoiner and made El Salvador the first country to adopt bitcoin as legal tender. And here he is today. El Salvador owns more than 6,000bitcoin. And guess what he has never done? Launched a rug pull on his audience and his people of El Salvador. So you got to respect Bukele. Hence the philosopher king. But let's dive a little deeper into this guy. Denying the allegations. I did not promote that. What I did was spread the word. Is there a difference between promoting and spreading the word? I thought they were one in the same, but you guys let me know. And that's actually a fascinating little interview. The Liber Tad project native Solana Token Libra rallied to four and a half billion, if you didn't know, for the market cap. That was on Valentine's Day. Shortly after Malay posted about it on X. Why do you think it rallied to four and a half billion? Because he post X but then fell 94% after he deleted the post. W W. As if that, you know, gives you no liability for posting it. It just shows that you're dishonest. Just leave it up. Promoting accusations of a pump and dump scheme. And while Malay claims he has nothing to hide, well, he wouldn't have deleted the post if he had nothing to hide. Correct me if I'm wrong on that. I mean, common sense if you're to ask me. But he acknowledged that he has something to learn from the ordeal, including the need to start setting filters on what conduct is appropriate and what conduct isn't. The libertarian economist said that the problem flowing from the token launch should only include the parties involved. The state plays no role. And when asked about the 44000 investors that may have been impacted, Malay said that most of them were bots. Interesting. The best case scenario is 5, 000 people were involved. Interesting. I would tell you that the chances of there being Argentines is very, very remote. I disagree quoting them here. Most transactions in the Argentine market are carried out with dollarized digital currencies. Therefore, the Malay case does not affect crypto adoption in the country, but rather opens a political discussion. It is not a rejection of the technology or the change in the way that money is used. Malay initially said he liked the idea of the Libra Token as a way to promote Argentina's economy, which lacks a strong capital market due to the state's mismanagement in recent decades. Malay said he wasn't aware of the exact details of the Solana project when he posted about it, and that he had no connection to the firm that launched the token, but not what he shared in the X post and which has now conveniently been deleted. But nonetheless, you let me know your thoughts with the saga with Malay and the Libra Token launch and we'll go from there. Next story of the day. Here's the latest with the Fort Knox Gold according to the Poly Market the Betting Odds the headline here reads Polymarket Bets on Fort Knox Audit as Reserve Debate Heats Up. That's right. Poly Market, a crypto based prediction market platform, listed bets on whether Elon's Department of Government Efficiency will audit the U S gold reserves at Fort Knox. Poly Market, introduced two Fort Knox tradition markets on February 17, with one betting on whether the DOGE would audit Fort Knox by May of 2025 and the other predicting the outcomes of such an audit. Poly Markets betting odds that the audit will take place by the end of April, stood at 56%, indicating skepticism about whether the push for transparency will lead to the first official audit of the U S Treasury gold reserves since 1974. Poly Market, which prohibits U S residents from betting on its platform, and I'm sure that doesn't stop anyone. They probably just use VPNs, saw a massive surge in bets amid the U S Presidential election, with many markets eventually pointing to accurate predictions. Since Kentucky Senator Rand Paul initiated the Fort Knox audit February 16, many commentators have joined the call for an audit of its gold reserves. On February 17, conservative political commentator Glenn Beck sent a letter to Trump urging him to restore full faith and credit in the U S Government, beginning with its balance sheet. Quoting him here I am asking for the opportunity to bring a camera crew under the strictest security measures to document and verify the presence of America's gold reserves. Wouldn't that be something? This could be a defining moment in your legacy of fighting for transparency and putting America first. So despite Musk continuing to push for the audit, Trump has thus far remained silent on it. And before his presidential term, Trump made some bold statements hinting that the U.S. the world's largest holder of gold, might not have all the gold it claims. Now, if I was a betting man, I'd, I for sure I'd bet a lot that Fort Knox is not holding all the gold they claim they are, considering they haven't been audited in roughly 60 years. So I think Trump's intuition is telling him the same thing. We don't have the gold, other places have the gold, Trump said. And this was according to his own words back in 2015 on TV. So while it remains unclear whether the US government whacked on audit requests, speculation is mounting over what could happen if discrepancies were found. Some commentators highlighted Fort Knox's 4,600 tons of gold reserves worth roughly 430 billion today would not be a big deal for the markets. Quoting Lynn Alden probably not much actually. It's such a small amount. Even as stated, some bitcoiners suggest that the full Fort Knox audit could potentially trigger a global confidence collapse in the dollar overnight and force a rally in the bitty. Others suggest that the public would never know the actual outcome of such an audit, which makes the use case for the establishment of a state bitcoin reserve. In the meantime, spot gold has been gaining momentum, setting a new high above 2940 last week and reportedly reaching a new record in inflation adjusted terms of recent. And amid the rising gold prices, Goldman Sachs raised its year end goal target to 3,001. Hundo reiterating the go for gold trading recommendation, a hedge against the global trade tensions. And if you don't know now, you know now for our feature story of the day, the Fort Knox audit that can send Bitcoin to $5 million per coin. Let's break it down as shared here by simply Bitcoin. And this has been a very big topic because rumor has it, not rumor, but they're looking to audit Fort Knox. And even Trump in his own words, as I shared in the previous story, has come out and said in 2015 he don't believe all the gold is there and that it's elsewhere. And I wouldn't be surprised either because the United States gold reserve hasn't been audited in roughly 60 freaking years, whereas the Bitcoin network gets audited every 10 minutes. Tick tock, next block. So let's discuss some of this and Speaking of a five million dollar Bitcoin, it was Michael Sailor who said bitcoin will be unaffordable. Predicting the 5 million dollar price, he says it'll reach 5 million citing three major catalysts including the spot Bitcoin ETF check, bank custody with lending check and fair value accounting for the bidding on the corporate balance sheet which is official as of this year. Check. And in another headline sailor predicts MicroStrategy's market cap can hit 10 trillion if Bitcoin reaches 13 million which is another one of his projections. Sailor agrees with projections that MicroStrategy's market cap could reach 10 trillion if Bitcoin were to hit 13 million. So first let's start with the 5 million dollar prediction which he made. So yeah, on an X spaces he shared back when bitcoin was roughly 90, well now it's 97 I think today it's like 95. But nonetheless, sailor argued that even without any major regulatory or institutional breakthroughs, Bitcoin is ready. On track to surpass gold is the dominance to our value. It is going to be a grind up by a factor of 10 just because gold is broken facts and Bitcoin is going to replace gold. I agree. Everybody in the universe knows now they need a non sovereign store value in the form of a bearer instrument. And with inflation concerns now a mainstream narrative, Sailor believes Bitcoin's role as an inflation hedge will drive its gradual ascent. Quoting him again last year people said inflation may be coming. Now the mainstream narrative has flipped to inflation is here you need an inflation hedge and according to him this alone is enough to propel the bitty to $500,000 per coin. But three additional factors can send the bitcoin price on a factor of 10x to $5 million. Let me know if you agree. Disagree. Sailor believes the bitcoin price skyrocketing to 5 million per coin if the three major catalysts unfold. And the first he says is the approval of the spot Bitcoin ETF which we know was approved last year in January it officially launched on the 11th which would allow the institutions to make the large purchases seamlessly. Someone can go ahead and buy 100 million of the Bitcoin through a security and ETF security. I think that's one. And that's precisely what the institutions have been doing, including Abu Dhabi recently making the announcement of owning half a billion virtually of the BlackRock ETF IBIT. The second major factor is banks custody in the biddy and offering loans against it. A move that would Integrate Bitcoin into the traditional financial system and increase institutional demand. Your bank is going to custody it for you and lend against it. All that's a coming. Lastly, Sailor sees the fair value accounting for the Bitcoin on the corporate balance sheets as a game changer. If companies can report Bitcoin's true market value rather than being forced to write down the losses, it could accelerate adoption. I can mark it up and I can mark it down on my balance sheet based on fair value, the same way I handle Apple stock or even treasury bonds. Whereas in the past it was counted as a liability which wasn't fair. And quoting again, if the banks can hold this stuff in their balance sheet, then a whole new class of investors are going to buy it. People are going to put in millions and multi million dollar orders to buy it as a Treasury asset and precisely what we're witnessing. And with banks enabling borrowing against the biddy at a low interest rate, he believes there is no reason for Hodlers to sell. I mean, why would you sell your biddy if you can borrow against it and keep the pristine collateral for yourself? Nobody's going to sell it because there is no reason to sell it if you can borrow against it at SOFR plus 50 base basis points, he concluded. So he does make a great point. Now, Micro strategy, now known as Strategy B after the rebrand, increases Bitcoin holdings to 478, 740 Bitcoin, practically almost a half a million of the BTC, which is half of Satoshi's wallet. Following the purchase of the recent 7633 Bitcoin for 742 million and the week ending on February 9th. And now for the other prediction regarding 13 million, here's what he had to share. Quoting Sailor when he was interviewed by Patrick Bet David, micro strategy is worth 73 billion today. And this was back November 19, 2024. Let me know if you saw that podcast episode. If you're saying point 1% Bitcoin adoption today it is going to 7%. That's a 700x, right? So if Bitcoin is at 90000 today and it goes to 13 million, you're expecting a 144x micro strategy in 21 years. If I do 144 times 73 billion, you're estimating to be a ten and a half trillion dollar company in 21 years, is that correct? So with that math, yeah, bitcoin goes from 90,000 to 13 million. So multiply 13 million divided by 90,000 and it gets you the big number, according to sailor. So, yeah, 13 million. 5 million. What are your thoughts? Do you think that the gold reserves will actually be audited at Fort Knox, or do you think that will never turn into fruition? You guys, let me know your thoughts. 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. Hodl.
Episode 1909: “The Fort Knox Audit Could Send Bitcoin to $5,000,000 Per Coin”
Host: Justin Verrengia
Release Date: February 18, 2025
In Episode 1909 of "Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News," host Justin Verrengia dives deep into several pivotal developments within the cryptocurrency sphere. From Bitcoin's technical analysis to significant industry events like FTX's repayments and potential audits of Fort Knox, this episode offers a comprehensive overview for both seasoned investors and newcomers alike.
Timestamp: [00:59]
Justin begins the episode with an up-to-date analysis of Bitcoin's market status. Currently, Bitcoin is experiencing a correction, trading just below the $95,000 mark.
Notable Quote:
"Bitcoin's currently correcting and in the red sub 95,000." – Justin Verrengia [00:59]
Justin emphasizes the slight market correction, suggesting that Bitcoin might rebound to green before the end of the live stream. He also touches upon the crypto sentiment indicators, noting a neutral rating of 47 on Crypto Fear & Greed Index.
Timestamp: [10:30]
One of the episode's highlights is the discussion surrounding FTX's monumental $1.2 billion repayments to creditors. This marks a significant step in the crypto industry's recovery following FTX's collapse, which had previously plunged Bitcoin's price to $16,000.
Notable Quotes:
"The FTX repayments are being viewed as a positive signal for the crypto industry recovery." – Alvin Ken [10:45]
"If you had a bitcoin sitting in the FTX exchange... you get the fiat equivalent at that time, which was roughly $16,000." – Justin Verrengia [11:15]
Despite the positive outlook, Justin points out that the repayments are based on Bitcoin's low valuation during the collapse, meaning many creditors might still face losses.
Timestamp: [20:50]
Justin shifts focus to legislative developments, highlighting the Texas Senate's upcoming hearing on establishing a Strategic Bitcoin Reserve.
Notable Quotes:
"Bank of America gives customers access to trusted experts... aiming to diversify the state's cash reserves by incorporating Bitcoin." – Justin Verrengia [20:50]
"The President's new Working Group on Digital Assets will first consider whether the U.S. Government should hold Bitcoin as a strategic reserve asset." – Justin Verrengia [21:15]
Justin speculates on the potential federal adoption of a Bitcoin reserve, questioning whether the proposal might expand to include other cryptocurrencies, potentially diluting Bitcoin's dominance.
Timestamp: [30:10]
A contentious topic in the episode is Argentine President Javier Milei's denial of promoting the failed Libra meme coin. Justin delves into Milei's defense and the broader implications for crypto adoption in Argentina.
Notable Quotes:
"If you went to a casino and lost money, what's the complaint? Our on promoting the scheme." – Javier Milei [30:45]
"Most transactions in the Argentine market are carried out with dollarized digital currencies. Therefore, the Milei case does not affect crypto adoption in the country." – Justin Verrengia [32:00]
Justin critiques Milei's approach, suggesting that a public apology and acknowledgment of wrongdoing would have been more appropriate, especially given Milei's influential position in Argentina.
Timestamp: [45:00]
The episode explores Poly Market's prediction markets regarding a potential audit of Fort Knox's gold reserves, a move that has spurred speculation about Bitcoin's future.
Notable Quotes:
"This could be a defining moment in your legacy of fighting for transparency and putting America first." – Glenn Beck [46:30]
"The U.S. gold reserve hasn't been audited in roughly 60 years, whereas the Bitcoin network gets audited every 10 minutes." – Justin Verrengia [48:10]
Justin discusses the potential market implications if discrepancies are found during the audit, including a possible surge in Bitcoin's value due to diminished confidence in the U.S. dollar.
Timestamp: [55:20]
A central focus of the episode is the audacious prediction that a Fort Knox audit could catapult Bitcoin's price to $5 million per coin. This speculation is bolstered by insights from Michael Saylor, a prominent Bitcoin advocate.
Notable Quotes:
"Bitcoin is ready to surpass gold in dominance and value." – Michael Saylor [55:45]
"If banks can hold Bitcoin on their balance sheet, then a whole new class of investors are going to buy it." – Justin Verrengia [57:10]
Justin elaborates on how these catalysts could drive Bitcoin's value exponentially, emphasizing the synergy between institutional adoption and regulatory support.
Timestamp: [1:05:00]
Building on the Bitcoin price predictions, Justin discusses MicroStrategy's potential growth trajectory in a world where Bitcoin reaches $13 million per coin.
Notable Quotes:
"With Bitcoin at $90,000 today, scaling to $13 million represents a 144x increase for MicroStrategy." – Justin Verrengia [1:07:30]
"Why would you sell your Bitcoin if you can borrow against it and keep the pristine collateral for yourself?" – Michael Saylor [1:08:00]
Justin underscores the strategic positioning of companies like MicroStrategy, which are heavily invested in Bitcoin, positioning them for monumental growth should Bitcoin's price surge as predicted.
Episode 1909 offers a thorough examination of the current state and future prospects of Bitcoin and the broader cryptocurrency market. From significant repayments by FTX signaling recovery to legislative moves in Texas and potential audits of Fort Knox, the episode paints a picture of a dynamic and evolving landscape. The bold predictions regarding Bitcoin's future value, driven by institutional adoption and strategic financial integrations, provide listeners with both optimism and caution as they navigate the crypto space.
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