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1913: “Bitcoin Will Hit $21,000,000 If US Buys Strategic Reserve” - VanEck
00:33:31
The new VanEck research reveals that if the US Strategic Reserve act is adopted, Bitcoin may offset 18% of the national debt before the government gains the right to sell Bitcoin reserves sending the Bitcoin price parabolic to $21,000,000 per BTC.
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Crypto Host
You don't buy Bitcoin, you acquire it to save your financial soul. Quoting the great Max Kaiser in today's show, I'll be sharing the latest Bitcoin technical analysis as well as breaking news. A new bill to allow State treasurer to invest in Bitcoin and Crypto has been introduced in Iowa. Also breaking news, South Dakota bill to allow the state to invest in Bitcoin now has a hearing scheduled for this Monday. We'll also be discussing the Buybit hack with withdrawals top $5.3 billion. And there's talk about reversing the transactions on the Ethereum blockchain. That's right. We'll also be discussing the SEC drops enforcement lawsuit against Coinbase Top Exchange here in the States writing a major wrong. We'll also be discussing Bitcoin adoption grows as Meta Planet acquires 68 BTZ for $6.6 million. And speaking of state adoption, Utah's Bitcoin reserve bill passes the Senate. There's only one vote left. Let's freaking go. We'll also be discussing Vaneck Major Asset manager estimates the Bitcoin price will hit 21 million per coin if the United States buys the strategic reserve. That's a 22,000% gain. I'll be breaking this down for you. 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 number 1913. I'm your host JV. It's 2-22-2025. Another divine omen. And 1111 is a 22. 11 plus 11 and Max Geyser's target is 2.2 million for the cycle peak. JV's target 1.1 million. And again you add up 1.1 plus 1.1 you got a 2.2. All a big coincidence. I think not Broskis. But anyways welcome everyone to the live stream. Happy SAT stacking Saturday where we stacking the sats, putting down the gats and picking up the Sergio hats from a man. But anyways let's kick it off with our market watch as we do each and every day. Coin360 on your screen. All the major cryptos back in the green. This is good considering there was a massive hack yesterday. Bitcoin trading above 96,600 ether even with the 1.4 billion ether stolen, it's up 4% on the day trading above 27 hundo we have XRP trading above $258 and the rest of the market is on flake. Let's go and check it out. Coin market cap.com the current crypto market cap stands at a staggering 3.19 trillion. The Bitcoin market cap back above 1.9 trillion. The Bitcoin volume or not bitcoin but total crypto volume is actually 85 and a half billion on the day. And the bitcoin dominance back on the decl line at 59.9% with ether dominance made a tiny move today up 10.4% total. And check it out. The top 1 hunted crypto gainers past 24 hours leading the pack we have say up 10%, Maker up 9%, Celestia up 8%. Then we have Whiff and Avax. Which Alan are you bullish on for this Bull. Holl at your boy. And checking out the crypto bubbles we get a visual perspective on a daily and as you can see everything flipped from red yesterday to green today. 95% of the market in the green, safe to say. And on the monthly not looking so great still overall major wreckage on the alts including trump token down 54% the past 30 days and checking out the crypto gate interior index today we're 49 neutral, yesterday a 55, last week a 50 and last month a 75 in greed. And checking out the time chain calendar, we're currently on block height number 884,870 with 165,130 blocks until the NAS haven of 2028. And you currently exchange one fiat monopoly dollar for 136 sats. So start stacking the sats accordingly. You know what to do fam. We'll pull up some of the live charts but first I want to share with you some more breaking headlines of what's going on in the market. You should be able to see here. This is a great quote from Max Kaiser which I posted the other day. You don't buy bitcoin, you acquire it to save your financial soul. Very powerful. And shout out to the high priest for reposting it. And of course that's Chandy's head you see there and that's Michael Ash were obviously at the 100k Bitcoin Fiesta. And also breaking news, new bill to allow the state treasurer to invest in bitcoin and crypto has officially been introduced in Iowa. So Iowa please stand up. And also more bullishness. South Dakota bill to allow the state to invest in bitcoin now has a hearing schedule for this Monday. Two more days out. That would be February 24th. Let's go. I mean a lot of bullishness on the market so don't get it twisted you, I mean obviously there's the hack and all this stuff of which I'll be up dating you on here shortly. But let's pull up.
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Crypto Host
Credit.
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LinkedIn Representative
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Crypto Host
Some of the live charts we'll do some live chart action Jackson for you guys. And again welcome everyone joining the live stream. This is the one hour chart via Coinbase which actually just won. I heard the lawsuit of the SEC got dropped against them. So kudos to Brian Armstrong and Coinbase. We do have a bull target here on the one hour chart sitting at 10:45 which would take us within striking distance 5,000 away from price discovery. And zooming out from the one hour. Check out the four hour. The four hour chart says it's going up forever. Chandy. We do have a orange target sitting at 130 GS on the four hour and we also have the red bull target of 1045. And zooming out from the four hour, here's the one day chart and as you can see we do have some bear targets. Oh my God. We have one at 68,000 and we have a Super Bear Target sitting at 49G. So jeez Louise. And zooming out from there. Check out the one week we still have the sexy cup and handle target. We do get a weekly close tomorrow. Past couple of weeks were bearish closes unfortunately in the red. But we'll see how this week fares out. Thus far it's been corrective as well. And zooming out from the weekly, take a quick look at the monthly. And as you can see, February has been red thus far. Last month we had a green close. The month prior we had red close. And then November we had the Godzilla almost a 30,000 price appreciation which is the highest we have ever seen. Virtually $1,000 gain every day of the month. I can't wait for the next leg up like that. And that would take us to the 120, 130 range. And as you guys know, price discovery is currently 1093, which is the current all time high achieved on inauguration day with the President, the Trumpster. All right, let's continue with some of the headlines. Now we covered the ta the astrology for the Broskis headline. I guess this is what's on everyone's mind right now. So let's start with Bybit. Believe it or not, the withdrawals have top $5.3 billion, but the reserves exceed liabilities, at least according to the exchange. But regardless what they say, I'd still be very sus. If I had any crypto personally on that exchange, I would remove it immediately because I remember when Sam Bankman, freed CEO at the time of the second largest crypto exchange in the world, said everyone's funds are Safe and then 24 hours later they file for chapter 11 bankruptcy. So trust nobody, verify everything to the 10th power crypto exchange. Bybit has maintained reserves exceeding its liabilities despite suffering 1.4 billion hack and an overall 5.3 billion decline. It's a lot of money in total assets. According to the D5 llama, the February 21 hack marked the largest crypto theft in history with attackers stealing more than 1.4 billion in liquid staked ether, mantle staked ether and other ERC20 tokens since the incident, the value of Bybit total assets have fallen by over 5.3 billion, including the 1.4 billion lost from the hack. So despite the hack and the drop in assets by Bits Exchange reserves still exceed its liabilities, according to an independent Proof of Work Reserve auditor. Not proof of work, but proof of reserve. My apologies hackin who shared the following Today's hack was massive, a tough hit for the industry. But here's the bottom line. Bybit's reserves still exceed its liabilities. As their independent POR auditor, we have confirmed that user funds remain fully backed, so hopefully that's accurate. Bybit processed more than 350000 withdrawal requests within 10 hours, completing 99.9 of them by 1:45am according to the CEO. Although we have been hit by the worst hack possibly in the history of any medians by BIT functions and product remains functional. The whole team had been awake all night to process and answer client questions with concerns, Crypto industry leaders and exchanges rushed to assist by BIT with emergency transfers, including 50000 ether from Finance, 40, 000 ether from Bitget and 10000 ether from Dujun, amongst others. The 1.4 billion hack what do you need to know? Blockchain security analysts including Ark Ham Intelligence and on chain sleuth Zach XBT have traced the Bybit attack to the North Korean state affiliated Lazarus Group H, which is also the prime suspect in the 600 million ronin network hack, according to Mayor de the co founder and Chief Technical Officer Cyers. The attack share similarities with the 230 million Wazier X hack and the 58 million Radiant Capital hack. Dolev said the Ethereum Multi Sig Co wallet was compromised through a deceptive transaction tricking signers into unknowingly approving a malicious smart contract. Logic change. Quoting them here, it seems that Bybit's Eth Multi Sig Cold Wallet was compromised through a deceptive transaction that tricked the signers into unknowingly approving a malicious smart contract. Logic change. This allowed the hacker to gain control of the Coal Wallet and transfer all ETH to an unknown address by BITS Ether Cold wallet storage provider safe get the angel re special at McDonald's. Now let's break it down. My favorite barbecue sauce, American cheese, crispy.
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Student
Bacon, pickles, onions and a sesame seed bun of course.
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Crypto Host
And don't forget the fries and the drinks. Sound good? I participate in restaurants for a limited time. Ironic enough what a name was breached? I guess it wasn't that safe. But the incident did not affect the exchanges internal systems According to the Bybit CEO, the attack highlights that even centralized exchanges with strong security measures remain vulnerable to sophisticated cyber attacks. Over the past year, North Korean hackers were also responsible for the 305 million DMM Bitcoin hack, the 50 million Upbit hack, the 50 million Radiant Capital hack, and the 16 million Rain Management hack, according to the joint statement issued by the U S, Japan and South Korea. The statement came nearly three weeks after South Korean authorities sanctioned 15 North Koreans for allegedly generating funds for North Korea's nuclear weapons development program through crypto heist and cyber theft. So there you have it, yo. I mean, also, check this out. Bybit launches a 140 million recovery bounty program to hunt for the perpetrators of crypto's largest heist in history. That's a pretty substantial bounty. So if anyone has any insights, go collect your 140 million fam. But anyways, welcome everyone. Join the live stream. What I do make some of the freaking noise. We discussed the hack. Now let's discuss Coinbase versus the sec. Yeah, man. The US SEC is dropping the lawsuit against Coinbase. Coinbase says the SEC agreed in principle to dismiss its case with commissioner approval. According to Coinbase, the suits being dropped should be viewed as a major win for the rule of law. Preach. Coinbase says it has always complied with the SEC since going public in 2021. However, according to the top US based crypto exchange by trading volume political changes at the top of the SEC SEC lizard folk caused the regulator to file an unlawful suit against the exchange in 2023. That lawsuit is now being dropped. We call it the war on crypto. And according to Trump, the war is over. In a new interview with cnbc, Squawk Box Coinbase CEO Brian Armstrong doubles down on the exchange's claims that the lawsuit was politically motivated. We all know that quoting them here, I think it's a really important signal that after a small group of activists in this prior administration who tried to unlawfully illegally attack the industry, we are going to be able to turn the page on that and finally get some mothering clarity in America. Regulatory clarity, that is. I hope they'll dismiss all the bogus cases, frankly, and it'll be a domino effect for the rest of the industry. The news comes one day after the SEC announced the consolidation of its crypto unit into a newly created Cyber and Emerging technologies unit. And if you don't know, now you know. Broskis the Japanese Strategy B Meta Planet Headline Bitcoin Adoption Grows. Meta Planet acquires an additional 68 of the biddy for 6.6 million. That's right. The Japanese investment firm Konichiwa has once again extended his bitcoin portfolio, marking a significant milestone in his aggressive accumulation approach. The company, which is sometimes likened to strategy for its bitcoin focused blueprint, recently acquired an additional 68.59 BTC, bringing the total holdings to 2100. That's a blackjack baby. This recent purchase at almost 6.6 million was made at an average price of 96,000 per bitcorn. Meta planet has set an ambitious target, acquiring 10,000 BTC by the end of this year with an even loftier goal of 21,000 Bitcoin by 2026. Blackjack. We won. To support this expansion, the company will use internal cash and raise the capital through the equity and debt offerings. And with bitcoin being viewed as a hedge against economic volatility, Meta planet is positioning itself as the major player in the corporate crypto adoption world. And check this out. Meta planet stock has registered a 2.7 increase after the company's bitcoin buying spree. Although the increase wasn't remarkable, it still shows investors are interested and putting money in the company has, especially in its bitcoin strategy. And here's the official announcement. Meta planet continues the bitcoin accumulation, planning to hold 10,000 bitcoin by the year end. Meta planet expanded his bitcoin holdings with a new purchase. As I just shared with you now, the move allows follows strategy which of late been acquiring a sizable amount of bitcoin. They just raised another 2 billion so incoming 2 billion purchase probably going to be announced via the sailor tracker I would imagine by tomorrow and then Monday they'll actually, you know, announce it saying hey, we just purchased 2 billion because that's what he has been doing. But nonetheless Meta planet's concept is quite similar to strategy. The U. S based company has become the largest institutional Bitcoin Hodler amassing 480000 of the biddy which is pretty significant considering there can only ever be 21 million Bitcoin in circulation. There's probably 5, 6 million lost and gone forever. So very significant amount. And do you think sailors slowing down? I think not so strategy has revealed plans to raise an additional 2 billion which I just touched upon to boost the bitcoin reserves. Also Meta planet appears to be imagine.
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Crypto Host
Path but on a smaller scale at the moment. Next up, Utah Mormon country, baby Utah's Bitcoin Reserve Bill Passes the Senate let's freaking go. The race to establish Bitcoin as a state level strategic reserve asset has taken a decisive step towards the Beehive State. I never even realized it was the Beehive State I thought was Mormon state. On February 20th House Bill 230 HB230, also known as the Blockchain and Digital Innovations Amendment, passed the Senate Revenue and Taxation committee with a 4:2:1 vote. The legislation, which already cleared the state House of Representatives, now proceeds to a second and third reading in the full Senate. Should it succeed, succeed in those readings and receive the final Senate vote for approval. The bill would only require Governor Spencer Cox's signature. We need the signature from Spencer Cox. Very interesting. Please sign it Spencer and At its core, HB230 authorizes the Utah State Treasurer to invest up to 5% of certain public reserve funds into digital assets. Initially, some public discussion suggested a 10% cap, but the current version sets a ceiling at 5%. Why so bearish, Treasurer? Not as the target, but as the upper limit. And according to the several legislative references, the specified reserve funds total roughly 1.4 billion. Sounds like a very familiar number. It's the same exact number that was just hacked in Ethereum from the Bybit Exchange, meaning a maximum of 70 million could be invested in digital assets such as Bitcoin. The bill further restricts which cryptos can be considered. Specifically, digital assets must maintain a minimum average market cap of a half a trillion, which is 500 billion, meaning Bitcoin is the only qualified digital asset. Let's go Bitty. Currently, Bitcoin the only crypto that meets the threshold. Despite the focus, the bill also authorizes Treasurer to engage in crypto staking, an approach that does not apply directly to the bitty, but could potentially open the door to the high cap proof stake cryptos. If they surpass 500 billion, I guess good luck to them. Enduring Senate Revenue Taxation Committee hearing recently, Rep. Jordan Ture, the bill primary sponsor, detailed the legislation objectives and the approach, quoting them here. HB 230 is the latest iteration out of the blockchain digital innovation task force. It ensures how digital assets and blockchain is protected and how the government would treat that and ensuring that they aren't undue prohibitions restrictions on the blockchain. The bill also allows for some very limited investments, initial investments by the state treasurer in digital assets and some requirements around how that's kept in custody. The representative clarified that eligible digital assets must exceed 500 billion in market cap, a you know, criteria that only bitcoin currently satisfies. Quoting them again, that includes that those qualifying digital assets are only those with a market cap of 500 billion and limiting the funds that could be invested in that into just four funds which are some of the rainy day funds of the state. And according to the bitcoin laws on x Utah takes a commanding lead in the bitcoin reserve race today. HB 230 passed the Senate revenue and taxation committee. The senate will now hold the second reading, then a third reading and a final vote. Then the final step is for the governor to sign it into law. Come on governor Cox, let's make the magic happen. And as you can see here, Utah leading of the strategic bitcoin reserve race for the United states. Follow behind. We have Arizona mt, which I think is Montana, Oklahoma, Arizona and Florida. Let's go. According to the Bitcoin laws, 26,6 U.S states currently have an active strategic bitcoin reserve bill. And in three U.S states including Wyoming, Pennsylvania and North Dakota, the strategic bitcoin reserve bill has already failed. Oh no. End of the world. Obviously I'm playing. But nonetheless, adoption is coming. And if it doesn't come from the United States from a nation state level, it's coming individually from the states. You can't hold back, you can't suppress libidi. What is korea that hack? Some of the rumors is the lazarus group is connected apparently to all these hacks. Nipinator indicator incoming buy the biddy stat stack on Saturday in full effect. Now for our feature story of the day. Massive asset manager vaneck estimates the bitcoin price will hit $21 million per coin if the United States buys the strategic reserve, which represents a 22,000 gain as shared right here by the bitcoin historian pete rizzo. That's r I z z o. Open your ears. Anyways, jerky boys reference right there. But yeah, that's pretty massive. Could you imagine that 21 million. That's a blackjack baby. And as you know, in yesterday's podcast I broke down in great detail the gigachad Mikey Sailor proposing Trump purchase a significant amount of Bitcoin for the United States. Its strategic Bitcoin reserve proposing 20 of the Bitcoin supply, which is 4.2 million coins. Happy 420 Broskis. So let's dive a little deeper into this and shout out Vaneck. And the caveat is obviously we wouldn't hit 21 million next year, but by the year 2049.
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Crypto Host
I'll take it. Let me know if you would take it as well. So yeah, following Trump's watershed speech at the Nashville Bitcoin conference back in July 2024, Senator Lummis introduced her reserve bill for the Biddy, explicitly articulating that it is aimed to reduce the US debt. And her particular bill proposes purchasing 1 million Bitcoin over the course of five years, which would be 200000 Bitcoin being purchased per year for the United States of America. And Michael Saylor's ultimately saying what's up with the the bearish Trump? Let's just go for the gusto, right? And let's purchase 20 which would be 4.2 million and virtually 4.2x what Cynthia Lummis is proposing. And now the new Van act research reveals that if the act is actually adopted, bitcoin may offset 18% of the national debt before the government gains the right to even sell their bitcoin reserves. That's right, February 21st. Yesterday, an investment management company VANAC released the tool indicating the potential impact of the strategic Bitcoin Reserve of the United States of America debt at the specified conditions. It allows the government to set the number of the bitties purchased by the government annually, the average price at which bitcoins are being bought in 2025, and the average compound growth rate of the biddy price and the U S debt. The calculator tool is based on Vaneck research outlining how soon the debt may be offset by the bitcoin reserve at the set parameters such as the bitcoin price. Etc. It's worth noting that the research assumes that the Bitcoin act introduced by Lummis is getting adopted this year in 2025 without serious changes. The research web page contains a disclaimer that the calculations are based on the past trends and don't necessarily reflect the Future bitcoin value or the national debt amount, which is always changing. The research is based on the idea of the US treasury collecting a million bitcoins in five years. That's what Senator Lummus is proposing and holding them for 20 years. Let's go. According to the act, during the 20 years, the bitcoins held in the treasury can only be spent to cover the national debt. And based on the VANAC research made back In December of 2024, the US will amass 1 million of the bitty by 2049. The total value of these bitcoins will amount to $21 trillion and will offset around 18 of the national debt, which will reach around 116 trillion by 2029. And that's according to Vaneck. These figures will be correct at specific average compound growth rates of the U. S. Data, the biddy price, the VAN act researchers assume the national debt will be growing by 5% per year, going from the current 36 trillion evaluation to 116 trillion billion in 2049. Van Eck expects that on average bitcoin value will be growing by 25 each year, increasing from nearly a hundred thousand to 21 billion per coin. I think they mean 21 million. It just gets more and more bullish. But heck, if they want to send Bitcoin at 21 billion, let's freaking go, broskis. When the federal bitcoins are no longer barred from selling. Hilarious. But actually from the report you can see this chart. How a U. S Bitcoin reserve can also offset the national debt over time. It shows you the final values in 2049. U.S. bitcoin reserves as a percentage of the debt 18.2% U.S. national debt 116 trillion Bitcoin treasury value $21.2 trillion. The government may amass more than a million bitcoins as it may accumulate additional coins through seizing donations and other ways. Or maybe just do what sailor proposes to Trump. And for those that don't know, Saylor announced in one of his interviews he's been friends, like personal close friends with the Trump family for like over 20 years. So they're very close. And when you have people like Michael Saylor in your ear saying it's going up forever, Laura, there is no second best that could absolutely play an effect in Trump's final decision. But you guys let me know your thoughts on that again. I covered it in yesterday's podcast. If you missed it, check it out. All in all, Van Eck research indicates the strategic bitcoin reserve will hardly pay off the U. S debt anytime soon, which is in line with what Lummis claims in July of 2024 at the national event when she was talking about reducing the debt, not covering it. And to fully pay off the national debt, if the growth rates are even correct, the government would need to purchase over 5 million bitcoin. Precisely. Now we're talking. That's ultimately what Sailors proposing. Let's get rid of the debt Trump. And In August of 2024, in an interview broadcast on Fox, Trump assumed that bitcoin would probably pay off trillions of US Debt. And even if we don't factor in the potential debt growth, according to the Congressional Budget Office, debt may reach around $50 trillion by 2035. The US government will need 36 million bitcoins. At a million 36 million bitcoins, where do we come up with these numbers? We all know there can only ever be 21 million, right? Just want to make sure we're clear on that. And five or six are estimated to be lost and gone forever, but I guess we can.
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LinkedIn Representative
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Crypto Host
Be hopeful romantics here with the video. The problem is that such an amount of the biddy is impossible to get as the maximum supplies bitcoin set to only 20. That's what I'm trying to say. And its pre programmed scarcity is seen as one of the main drivers of the value scarcity. Scarcity. Scarcity. The company is holding the biggest bitcoin bag Black Rock Lawrence Fink. As of February of 2025 it owns over a half a million of the biddy. Another avid Bitco strategies, Mikey Sailor claimed that there's only room for one nation state to buy up to 20 of the bitcoin network. Note that he is not even considering a third part of the supply for any nation while he owns around half a million of the bitcoins single handedly. But that's Mikey Sailor for you. Let me know if you feel the Trumpster will follow in Sailor's suggestion. How do you think that will play out? Do you think at a bare minimal they'll sign Lummis's bill proposing the 1 million bitcoin strategic reserve for the United States of America? Or do you think it'll be more advantageous? Potentially 20 of the Bitcoin supply? Let me know and welcome everyone to the Q A segment of the live stream. And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in our live Q A. And I look forward to seeing you on tomorrow's episode. Hoddle.