
Jan3 Founder Samson Mow has long been vocal about his $1 million per Bitcoin valuation and, despite all the recent price perturbations of the king crypto, is still standing by his words.
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Adrian
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JV
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JV
Welcome crypto fam to no. 1 Daily Bitcoin Pod. In today's show I'll be breaking down the latest bitcoin technical analysis. Now breaking news. Senator Lummis said President Trump is with us on her bill of buying 1 million bitcoin. It's a happening. We'll also be discussing the latest with the crypto exchange traded products in 1.7 billion worth of outflows, the longest streak yet since 2015. We'll also be discussing Michael Sailor strategy makes their smallest bitcoin purchase on date, on record at least. We'll also be discussing the bank of Korea to take cautious approach to the Bitcoin reserve as well as the Central bank of Russia issues a proposal allowing wealthy high net worth individuals to trade Bitcoin and crypto. I'll be breaking down this latest report as well as Bitcoin to a million dollars. Samson MA reveals the new timeline. 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 crypto news alerts. Again, that's crypto news alerts.net today is spot episode number 1936. I'm your host JV and today is March 17th, 2025. We're going to kick it off with our market wash. Let me pull up coin 360. You should be able to see here in your screen Bitcoin correcting trading just above 83,800 at the time of the live stream. While Many of the alts are breaking out but very modest gains. Ether up 3% still trading below 2000. Will it recover back above 2000 here? Let me know. XRP down 1% trading at 2.35 BNB in the green Tron in the green XLM in the green and checking out coinmarketcap.com the current crypto total market cap is at 2.74 trillion. We've been pretty stagnant for the past week or two and the bitcoin market cap is all the way down to 1.6 trillion. We got roughly 72 billion worth of volume for the past 24 hours and the current Bitcoin dominance today is 60.7% with the Ether dominance at 8 and a half percent. Checking out top 100 crypto gainers past 24 hours we got Cake up 38%, Binary X up 12 and Axi Infinity up 5 and a half percent followed by Curve Dao and Pepe. Which alts are you bullish on? For the bull holla, let me know. And checking out the crypto bubbles as you can see the majority of the market pumping it in the green we love to see. But to put things in perspective, zooming out on the monthly 95% of the mark. Total bloodshed total rec city many of these top Al down 30, 40, 50 plus percent like it ain't no thing but a chicky wing. And also checking out the Crypto Greed and fear index. Today we're at 32 fear, yesterday 30 last week at 20 in extreme fear and last month of 50 neutral. And checking out the time chain calendar we have 161,809 blocks to the next having in 2028 currently on block number 888191 and you currently exchange one fiat monopoly dollar for 1196 SATS. Pick up the sats, put down the gas, pick up some bitcoin caps from my man Sergio over at Bitcoin caps and if you don't know now you know Broskis. Let's dive into today's astrology for the Broskis Bitcoin bullish cross with a 50 plus average return flashes again my friend. That's right. We're talking about the bitty Stochastic RSI Relative Strength Index. Printing a bullish cross with a history of preceding sharp price rebounds. The Stochastic RSI tracks momentum based on price movements relative to the range over a given period. This classic indicator operates between 0 and a hundo with values above 80 considered overbought and below 20 deemed oversold. A crossover of the blue percentage K line above the orange as outlined here in the chart from an oversold region technically suggests growing upwards momentum. So another120,000 bitcoin price target emerges in flow. With that on the weekly chart, we're, you know, sitting at the 124, which I'll pull up here shortly. Historical fractals show that each time the weekly stochastic RSI made a bullish cross, Bitcoin underwent sharp price recoveries within three to five months. Its gains have averaged at around 56 rebounds, including rallies that extended beyond the 90% return mark. That includes a roughly 90% rally from November of 2022, lows, 92% gains in late 2023 and a staggering 98% move in Bitcoin's recent all time high of around 110,000 in January. And to be precise, that was inauguration day for the Trumpster. Jan. 20th. In the morning before he was sworn in, we hit 1093, which is current price discovery. So if history repeats, Bitcoin can see another parabolic rise by July or August, aligning with previous stochastic RSI bullish crosses that delivered outsized returns. As this trader hints right here, history doesn't lie. Bitcoin is about to send full send stock sergeant and Mr. Smith. You're gonna love this house. Bunk beds in a closet.
Adrian
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JV
Rsi, short for stochastic bullish cross. Just flash every time this happens. Bitcoin pumps of an average of 56%. So 120,000 is just the start. That's right. That's only a pit stop. We're heading to a Millie. Another bullish sign comes from the hedge fund accumulation during the ongoing price correction. Global crypto hedge funds are increasing their bitty exposure as seen in the latest rolling 20 day beta to Bitcoin which has surged to a four month high. This suggests institutional investors buying into the dip. You already know sailor. He just make a $21 billion announcement the other day and he just bought some more bitcoin. And an official announcement he made today. I'll be sharing that with you here shortly. So you already know they're positioning themselves for the upside because that's what the smart money does. The beta is now at a four month high, meaning hedge funds believe the recent bitcoin dip is a buying opportunity and expect higher prices ahead. Exact Mondo Reinforcing the 120,000 price outlook as discussed above. And you guys let me know if you feel will likely smash that. And Cynthia Lummus recently spoke out and said President Trump is with us on her bill which she reintroduced to the Senate of buying 1 million BTC. My response, why so bearish Sailors proposing Trump to buy 25% of the Bitcoin supply which is 5 million 5x that mofo. But I digress. Let me know your thoughts on that. I'm going to be pulling up some of the live charts here. We'll do a little live chart action Jackson Satisfaction for the Brosis and for the bitty Baddies here's a one minute chart. There's a rising wedgie formation sensation and zooming out. We'll go to the hour and let's see what we got here. Good stuff. Two super bull targets. The most bull target falling wedge scenario here 108270 we also have a green target inverted head and shoulders sitting just above $93,000. And again this is the hourly chart live via Coinbase via Trading View and checking out the four hour chart. As you can see here. Also two bull targets in the green sitting at 1137 and in the red sitting just above 182 and also a rising wedge overall formation and zooming out we check out the daily and as you can see thus far today has been printing green. Yesterday was corrective. We have two bull targets on the daily. One is 115395 and we also have a target just shy of that 113 702. And zooming out from the daily take a quick look at a weekly and this is going to coincide with what I just shared with you of 120 being the next leg up as per the stochastic RSI. While the weekly chart has a sexy cup and handle pattern which has been here for many many months. We cover it every day. So I mean at this point it should feel like deja vu but it is sitting at 124 000. Unfortunately we had a you know, big negative weekly close the prior week. We just had another close yesterday and it's an itty bitty green much meaning we've been trading sideways. Where do we go from here? You guys let me know your thoughts and we'll take a quick look at the monthly chart as well. Monthly chart February was you know, disappointing to say the least. It was a super mega bear candle as you can see in the red there. January we had an itty bitty bull candle. December was an itty bitty red corrective candle and November was the biggest green candle we have seen yet. Let me know how you feel will likely fare for the rest of month of March before we enter April. Holla at your boy. But let's discuss these ETP outflows which is part of the reason Bitcoin's been struggling. Check it. Headline reads crypto ETPs which are exchange traded products see 1.7 billion of outflows. This is the longest outflow streak since 2015. That's right. Crypto ETPs continue seeing massive selling last week recording the fifth week of outflows in a row, 1.7 billion leaving the market after seeing slightly softing outflows of 876 million the previous week. Crypto ETP liquidations accelerated during the past trading week bringing the total five week outflows to 6.4 billion. Damn. The ongoing outflow strike has also marked the 17 straight day of outflows, the longest negative streak since Coin shares started records in 2015. Despite notable negative sentiment year to date, inflows remain positive, but barely at 912 million, less than a billion worth of inflows overall after seeing the 756 million of outflows the first week of March, Bitcoin ETP saw increased selling in the trading week from March 10th 10th to the 14th seeing a further 978 million of outflows. The five week selling streak brought the total Bitcoin ETP outflows to 5.4 billion, leaving just 612 million of year to date inflows. By March 14th. Both Ether and Solana ETPs saw 175 million and 2.2 million of outflows and respectively XRP ETPs continue to go against the trend, seeing a further 1.8 million of inflows.
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According to the Coin shares data, European crypto ETP provider 21 shares record the largest liquidations amongst the issuers last week totaling 534 million of outflows. So it's just outflows. Outflows across the board. Despite significant selling in Europe, the US still saw the largest outflows amongst the analyzed regions. It must be the majority coming from, I would assume Black Rocks IBIT with 1.2 billion leaving the crypto ETP market. And here's the actual breakdown. Yep, iShares leading the pack followed by Grayscale, Fidelity, ARC and Bitwatch. Black Rock, the largest crypto holder amongst all issuers, saw 401 million worth of outflows. With month to date outflows expanding 594 million pro shares is the only track major issuer that still has 2 million of inflows. Again, practically nothing. ProShares is also one of the three major issuers that managed to maintain inflows year to date. By March 14, including firms like Black Rock and Arc, and additionally Bance saw almost all its assets under management wiped out by a seed investor exit, leaving just 15 million left. And if you don't know, now you know. Let's continue with some of the news, shall we? Next story of the day. Here's the latest from the Gigachad. Headline reads Michael Saylor Strategy makes their Smallest Bitcoin Purchase on record oh no, I was anticipating the 21 billion dollar purchase. It's the lowest one on record. Go figure. March 17th they officially announced the latest 130 Bitcoin acquisition bought for around 10 million. Peanut Sailor, why are we even dealing with these rookie numbers at an average price of 83, 000 per Bitcoin, the latest Bitcoin purchase was made using proceeds from the STRK ATM, the new strategy program looking to raise up to 21 billion in fresh capital. So yeah, maybe this was their test acquisition strategies. New 130 Bitcoin is the smallest one ever recorded since the company announced his first purchase of 21,000bitcoin for 250 million back in August of 2020. I'd say that was a hell of a buy, right? I don't know the average cost on that, but that was back when Bitcoin was actually more affordable. Clearly back in 2020. 21, 000 Bitcoin for 250 million. I dare say Bitcoin was probably ballpark 10 to 14, 000 per coin. Correct me if I'm wrong Broskis, but with the new purchase strategy and A subsidiaries now hold 499226 BTC acquired at an aggregate purchase price of approximately $33 billion. At an average purchase price of around 66,000 per BTC inclusive of fees and expenses. After buying 130 BTC, Strategy is yet to buy 744 Bitcoin to reach a holdings of a half a million BTC. As Sailor announced here, Strategy acquired 130 Bitcoin for 10.7 million at 82, 981 per bitty, achieving a Bitcoin yield of 6.9% year to date. 2025 Now According to Strategy's website, the company's Bitcoin yield now stands at 6.9%, significantly lower than its 15% target for the year. And despite the bitty price falling to a monthly month low of actually 77, roughly 7,677 a few days ago, Strategy's latest buy, significantly smaller than its most recent buys and the smallest ever announced by the firm. And prior to the latest purchase, the smallest bitcoin purchased by strategy was 169 Bitcoin all the way back in August of 2024. And so far in 2025, strategy has acquired a whopping 51, 656 Bitcoin. We're only the third month into the year, so sailor's been going ham. That's an average of like over 15, 000 Bitcoin per month and yeah, so you already know. But let me know your thoughts on the latest for the Gigachad, the one and only Michael Sailor. But anyways fam, keep the comments of flowing. I greatly appreciate it. Next story of the day we'll be discussing some central bank adoption. At least them entertaining it and their thoughts. Yesterday we focused on North Korea and the us. Well now let's discuss South Korea and then the bank of Russia. And then we'll tap into Samson Mao's latest update with his 1 million bitty price prediction. This headline reads bank of Korea to take cautious approach to Bitcoin Reserve. That's right. The bank of Korea says it's taken a cautious approach to potentially including Bitcoin as a foreign foreign exchange reserve Officials from the Korean Central bank said on March 16 response to a written inquiry that they have not looked into a potential bitcoin reserve, citing high volatility, which in my opinion means they did look into it because for them to report saying we did not look into it, I mean how much looking into do you really need to do? But I digress. Responding to a question from Representative Cha Gwen Jim of the National Assembly Planning, a Financial Committee central banker said that they have neither discussed nor reviewed the possible inclusion of Bitcoin and foreign exchange reserves. Like I said, I trust nothing, no government says. And if they're going to make an official announcement that they're not looking into it after Trump already this episode is.
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JV
Establish a strategic Bitcoin reserve and sign an executive order for it. I'm calling but you guys let me know your thoughts. Quoting them here. Bitcoin's price volatility is very high, as if that's a bug. That's a feature MOFOs, the central bank noted before adding in the case of cryptocurrency market instability, transaction cost to cash out bitcoins could rise drastically. It's really never been a problem. So again, it just goes to show you the FUD they're trying to spread, in my opinion. Over the past 30 days, Bitcoin prices swung wildly between 98 and 76 before settling at the current level just above 83, on the cusp of 84 right now and a 15 decline since February 16th. The decision comes amid increasing global discussions on of the crypto assets and national financial strategies sparked by Trump's executive order earlier in the month and establishing the strategic Bitcoin reserve and digital asset stockpile. And At a seminar March 6, crypto industry lobbyists and some members of Korea's Democratic Party there's the problem. Democratic Party urged the country to integrate Bitcoin into the national reserves and develop a one back stablecoin. Interesting. However, the bank of Korea emphasized that its foreign exchange reserves must have liquidity and be immediately usable when needed. Well, there's nothing more liquid than Bitcoin. I mean come on now. As well as credit rating of investment grade or higher criteria that Bitcoin does not meet in its opinion. Interesting. Professor Yong of the Catholic University of Korea that's interesting in of itself stating it's appropriate for foreign exchange to be help held in proportion to the currencies of the countries which we trade. And Professor Kang from the Case East Graduate School of Finance commented on the U S being likely to leverage stable coins rather than Bitcoin to maintain dollar before adding whether the IMF will recognize stable coins as foreign exchange reserves is a in the Future is important. And earlier in the month South Korea's financial regulator examined the Japanese Financial Services Agency legislative trend towards crypto assets and it most lifting a ban on crypto exchange traded funds in the country. Well, there you have it. Well nonetheless, the global hash war continues and whether South Korea is a part of it or not, I mean really, they're lost. At the end of the day North Korea we already know the third largest holder of Bitcoin and the United States is up there. But half of the United States's current stockpile belongs to the Bitfinex users who got hacked because the hackers steal the money from the retail users and then the government steals the money or confiscates it from the hackers. But but the government has yet to return the stolen proceeds to where it belongs. Next story of the day. Here's the latest with the bank of Russia as the global hash war is in full effect. And then we'll dive into Samson Mao's 1 million price prediction. Check it. The Central bank of the Russian Federation reportedly released a proposal that if approved would allow qualified entities to trade crypto assets. In a statement, the central bank proposes a three year experiment where wealthy investors and turns certain firms have to green light to buy and sell crypto assets. Reporting Reuters the Central bank of Russia says the experiment is designed to boost transparency in crypto trading but warns participants can lose money dabbling in crypto assets. Thanks Captain. Alas, quoting them here, this is a new status that citizens will receive in their investments and securities and deposits exceed 100 million rubles which is $1.15 million or if their income over the past year was more than 50 million rubles which is 575000 USD. Now back in July of 2020, Russia enacted a law that banned the use of crypto such as the biddy to purchase goods and services in the country. But the European giant appears to be softening its stance on digital assets after the US and its allies impose crippling sanctions against Russia for the war in the Ukraine. Now in September the country passed a bill that enabled legal entities and registered entrepreneurs to mine digital assets. Reports also emerged last year that Russia will try to use the national payment card system to trade rubles and crypto assets when testing payments in the Exchange platform. The NSPK was created in 2014 and is wholly owned by the Central bank of Russia, but was placed under sanctions in February of last year by the United States Department of Treasury. And if you don't know now, you know now for Our feature Story of the day Bitcoin to 1 million per coin Samson Mao reveals his timeline so I'll be sharing a couple of recent tweets from the founder of Jan3 shout out Samson Mal helping usher in nation state Bitcoin adoption with many heads of state, presidents, prime ministers, etc including you know, Prime Minister of Japan, the President of Colombia, you know, the Senator over in Mexico, etc so shout out again to Samson. He recently tweeted the greatest trick the devil ever pulled was convincing the world that you'll always be able to buy bitcoin with Fiat. And I dare say the greatest trick the devil ever pulled was convincing you.
Adrian
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JV
Edu did not exist and someone responded here. So you're calling for Bitcoin equals infinity and Euro Bitcoin equals infinity. Now I'm curious, what's a euro Bitcoin and so on. So how far do you see into the future? Josh Mann writes, I can sometimes see out a year, but I think that's been more helpful to me than a thousand years or whatever. Even when Sailor says 13 million, I think that's pretty far off and not at all a straight line. Well, never a straight line. Can you tell me when 1 million. As for me, I will be taking some chips off the table at 440 000. Easy to say never sell your biddies when you have plenty of Fiat to buy groceries with. And he makes some good points here. And I'm also curious, do you guys have like a certain FIAT value that once bitcoin hits it, you're also going to be, you know, taking some chips off the table maybe to, you know, pay off your mortgage or do something with. Let me know. I'm curious. Samson now responded right here. My model says 1 million in 2031. So according to his model, 2031. But his feeling, which trumps his model says this year or next. So he's still a firm proponent that we're in a bull cycle, clearly, and that we're yet to hit the cycle peak. And he still firmly believes we'll hit it this year. And if not this year, in 2025, it would prove the theory of the extended bull cycle because this would be the first time we don't peak out the year preceding the having. We all know we had the having. I think it was April 19th of last year. So typically if history is to rhyme, we'd see the peak this year. So he's also a proponent that we have an extended super cycle. And so she bitcoins responded. You mentioned that sometimes you can't fill a bid. Isn't it fair then to say it'll become difficult for the average person to buy a meaningful amount of bitcoin? Sure, they'll be able to collect sats, but I liken it to collecting gold dust. And she makes some good points too. It will become increasingly more difficult, especially with a legitimate supply shock. I mean, anything can happen. And looking at some other recent tweets from Samson, he wrote the u. S. Digital fort knox will now be called fort nakamoto. I'm all for that. Let's update it from fort Knox to fort nakamoto, especially after we audit it and see that the gold is missing. What are your thoughts on that? And he says, I have spoken Fort nakamoto. Send it now. Also, what's more likely, likely, he tweeted a couple of days ago, sailor goes from 500, 000 to a million bitcoins or the u. S. Strategic bitcoin reserve accumulates 1 million coins. Between those two, what do you think happens first? I'm going to speculate sailor gets to a million coins first. Though I would prefer the United States to get to a million coins first. And let me give you my logic because sailors purchasing insane amounts of bitcoin and just made an announcement of raising another 21 billion in convertible notes and 21 more billion into buying bitcoin. It's going to shoot right on up to the 700, 000 range. So Michael Sailor could realistically achieve 1 million Bitcoin status before the end of the year. And that's probably his goal. The u. S. Strategic bitcoin reserve for the United States. I think it's going to take a longer time because it has yet to still be approved by like the senate and congress. And even though Cynthia lummis is proposing for it, I believe their plan, which originally was read at the conference last year, was acquiring 200, 000 new Bitcoin per year. So that's like a five year plan. So I'm Pretty positive. Sailors most likely going to hit a million coins before the US and we'll continue u. S. Bitcoin bonds by 200 billion of bitcoin and 2 million coins. If at a hundred thousand. I mean, do you think the government will likely do that? I mean, I think they should. It's the hardest asset to ever exist. Not only should they do that with these bitcoin bonds, they should also offload their goal gold and trade it into the hardest asset ever created. And they should also print the money out of thin air on one of those 14 computers. Elon Musk just came out and disclosed that the US government has 14 magical computers that just like to print money out of thin air. Well, convert that money out of thin air into the hardest asset to ever exists. And why not? Bitcoin goes to a million fast. It can happen. It absolutely can happen. But the million dollar question, when will it happen? Will it happen this year? Will it be faster than most people's expectations? Or will be a long steady ride maybe in the year 2030 as Cathie Wood or other models are projecting? Let me know your thoughts. Another positive powerful post he wrote. Some bitcoiners are saying the strategic bitcoin reserve doesn't do anything because it's just seized assets and they are not buying. And I'm also getting this feedback a lot as well from people I know and they, they're missing the boat. So let's break this down. Well, there will be buying. There are a number of budget neutral ways. That's the key word. They're allowed to acquire bitcoin as long as it doesn't cost cost taxpayers any money. Which would be a budget neutral way to acquire bitcoin such as issuing bitcoin bonds. This episode is brought to you by Indeed. When your computer breaks, you don't wait for it to magically start working again. You fix the problem. So why wait to hire the people your company desperately needs? Use indeed sponsored jobs to hire top talent fast. And even better, you only pay for results. There's no need to wait. Speed up your hiring with a 75 sponsored job credit@ Indeed.com podcast. Terms and conditions apply for selling gold. Give it some time. Howard Lutnick will get her did next. The significance of the strategic bitcoin reserve creation is immense. The test legitimized bitcoin as an asset class. That's a good point. And opened the door for institutional investments. Today, with the stroke of events, the POTUS has equivocated bitcoin with gold digital Gold baby. The strategic bitcoin reserve is a digital Fort Knox, Fort Naksamoto. Let that sink in. The real race for the nation state biddy adoption really begins. The strategic bitcoin reserve also means we will finally get an official audit. About time for how much bitcoin the US actually has. Every figure we have now is simply an estimate and we know the U S Marshals have been selling off bitcoin for the last few years. So the truth is we really don't know how much bitcoin the US really has in their possession. It is likely the US has 112000 bitcoin or less because 95000 of those bitcoin belong to Bitfinex and will be returned. It does not have the 207 to 220000 Bitcoin number that many news sites repeat each and every day. This would put China in pole position with 194000 Bitcoin making China the leader of the world when it comes to bitcoin adoption. And again North Korea potentially then the second they have more bitcoin than the United States. If we put it all into perspective now, you can imagine that why that won't be acceptable. With bitcoin being deemed as strategic, the US will want to have the most. There will definitely be an audit of the supply and then adding to it. Competition is good for bitcoin. Hence the term global hash wars coin by Max Kaiser which is a fancy term for game theory because now the bitcoin made the announcement bitcoin. Now the United States made the announcement of stacking the biddy. Many other countries are likely doing the same thing behind closed doors. And as you can see here, United States roughly 112000 Bitcoin. El Salvador over 6000. The UK61,000 as we mentioned yesterday, North Korea thanks to their infamous Lazarus Lazarus hacker group they now have like close to 200000 bitcoin making them one of the largest in the world. Then you have The Kingdom of Bhutan, 13000 Bitcoin. Finland just shy of 2000 Bitcoin. The Ukraine 46000 Bitcoin. And again China probably the large, the largest in the world now right next to North Korea. And if you don't know, now you know. And again welcome everyone to the live stream. Give it up for your new Chairman of the Sec. Nipinator. I've always wondered how Bitcoin would reach 250000 to a million dollars. A coin, but it makes sense when all these companies and countries create their own reserves. Dingo was his name. Bo. 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.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News Episode 1936: Samson Mow Reveals New $1,000,000 Per Bitcoin Price Timeline Release Date: March 17, 2025 Host: Justin Verrengia
In today's episode, Justin Verrengia provides a comprehensive snapshot of the current cryptocurrency market. As of the live stream, Bitcoin (BTC) was trading just above $83,800, demonstrating a correction after recent peaks. While Bitcoin remains the market leader with a dominance of 60.7%, other major cryptocurrencies like Ethereum (ETH) are also in focus, trading below the $2,000 mark with a 3% increase.
Altcoins are witnessing modest gains, with notable performers including Cake (+38%), Binary X (+12%), and Axie Infinity (+5.5%). The overall crypto market capitalization stands at $2.74 trillion, with Bitcoin's market cap slightly down to $1.6 trillion. Despite these fluctuations, the Crypto Greed and Fear Index indicates a slight increase in fear from 30 to 32, showcasing the market's cautious sentiment.
Notable Quote:
"Today is spot episode number 1936. I'm your host JV and today is March 17th, 2025." – Justin Verrengia [00:52]
Justin delves deep into Bitcoin's technical indicators, highlighting a Stochastic RSI bullish cross that historically precedes significant price rebounds. This indicator, which tracks momentum based on price movements relative to a range over a specific period, has previously signaled sharp recoveries within three to five months, averaging around a 56% rebound.
The current bullish cross suggests a potential rise to $120,000, with historical patterns indicating possibilities of a parabolic surge by July or August 2025. Justin emphasizes that this is merely a "pit stop" on the journey toward the ultimate goal of $1,000,000 per Bitcoin.
Notable Quote:
"RSI, short for stochastic bullish cross. Just flash every time this happens. Bitcoin pumps of an average of 56%. So 120,000 is just the start. That's right. That's only a pit stop. We're heading to a million." – Justin Verrengia [11:13]
A significant portion of the discussion centers around the $1.7 billion outflows from crypto Exchange Traded Products (ETPs), marking the longest streak of outflows since 2015. Over the past five weeks, a total of $6.4 billion has exited the market, with major players like BlackRock's iShares leading the pack with $1.2 billion in outflows.
Despite the negative sentiment, inflows remain positive albeit minimal at $912 million year-to-date, signaling that institutional investors are cautiously navigating the market downturn.
Notable Quote:
"Crypto ETPs continue seeing massive selling last week recording the fifth week of outflows in a row, $1.7 billion leaving the market." – Justin Verrengia [11:44]
Michael Saylor's MicroStrategy continues to be a prominent player in Bitcoin accumulation. Recently, the company announced its smallest Bitcoin purchase to date, acquiring 130 BTC for approximately $10.7 million at an average price of $82,981 per BTC. This move brings their total holdings to 499,226 BTC, acquired at an aggregate purchase price of around $33 billion.
While this purchase is significantly smaller than previous acquisitions, it underscores MicroStrategy's commitment to increasing its Bitcoin reserves, positioning the company for potential future price surges.
Notable Quote:
"Michael Sailor could realistically achieve 1 million Bitcoin status before the end of the year. And that's probably his goal." – Justin Verrengia [22:44]
The Bank of Korea has announced a cautious stance toward incorporating Bitcoin into national foreign exchange reserves. Citing Bitcoin's high volatility and potential transaction costs, officials stated they have not yet explored adding Bitcoin to reserves. Despite pressure from political figures advocating for Bitcoin integration, the central bank emphasized the need for liquidity and immediate usability in reserve assets.
Notable Quote:
"Bitcoin's price volatility is very high, as if that's a bug. That's a feature MOFOs, the central bank noted." – Justin Verrengia [17:08]
In contrast, the Central Bank of Russia has proposed a three-year experiment allowing qualified entities to trade crypto assets. This initiative aims to boost transparency in crypto trading while warning participants of the inherent risks. The proposal targets high-net-worth individuals and firms with significant investment capacities, marking Russia's evolving stance on cryptocurrency regulation.
Notable Quote:
"The Central bank proposes a three-year experiment where wealthy investors and certain firms have the green light to buy and sell crypto assets." – Justin Verrengia [17:08]
A focal point of the episode is Samson Mow's ambitious projection of Bitcoin reaching $1,000,000 per BTC. According to Samson's model, this milestone is achievable by 2031, though he strongly feels it could happen this year (2025) or the next. He argues that the ongoing accumulation by institutional players and strategic national reserves will propel Bitcoin's value exponentially.
Listeners engaged in the discussion expressed curiosity about the feasibility and timeline of such a surge. Samson refuted skepticism by highlighting that Bitcoin's fundamental demand and limited supply dynamics make such a price target plausible, especially with increasing adoption at both institutional and national levels.
Notable Quotes:
"My model says 1 million in 2031. But his feeling, which trumps his model, says this year or next." – Justin Verrengia [22:44]
"Samson Mow: 'I have spoken Fort Nakomato. Send it now.'" – Samson Mow (Referenced by Justin) [22:44]
Episode 1936 of the Crypto News Alerts podcast offers an in-depth analysis of the current state and future projections of the cryptocurrency market. From technical indicators signaling potential bullish trends to significant outflows in crypto ETPs, and strategic national moves towards Bitcoin adoption, the episode underscores the dynamic and multifaceted nature of the crypto landscape. Samson Mow's bold prediction of Bitcoin reaching $1,000,000 adds an optimistic outlook, inviting listeners to stay informed and engaged as the market evolves.
Final Thoughts:
"The strategic Bitcoin reserve also means we will finally get an official audit. About time for how much Bitcoin the US actually has." – Justin Verrengia [22:44]
Stay tuned for more updates and insights in tomorrow's episode. HODL!
This summary was crafted based on the transcript provided and aims to encapsulate all key discussions, insights, and conclusions presented in Episode 1936 of the Crypto News Alerts podcast.