
Apple, the world’s fourth-largest company by market capitalization, should buy Bitcoin to address the poor performance of its stock buyback program, according to Strategy executive chairman, Michael Saylor, predicting Bitcoin Soaring 12,328% to $13 million per BTC.
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JV
Welcome Bitcoin Fam to the number one Bitcoin pod. Bitcoin pumping back in the green. We did recapture 110 within a couple of thousand away from price discovery. In today's show I'll be breaking down the latest all time high technical analysis. Also breaking news. Black Rock's Bitcoin Fund blows past 70 billion in record pace for ETFs. We'll also be discussing Bitcoin Coinbase Premium hits a four month high as 550,000 Bitcoin leaves the changes. Can you say supply shock? We'll also be discussing the bank of Japan pivot to QE may fuel a Bitcoin rally. I'll give you the analysis from Arthur Hayes. Just blazed as well as Trump backed American Bitcoin accumulates 215 BTC since their April launch. Also big news. Apple should buy Bitcoin according to Michael Sailor. He says as their share buyback disappoints, I'll be giving you the latest prediction. He says bitcoin's going to soar 12,328% from today's price. 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. I'm your host JV and today is 6-10-2025. This is pod episode number 28 and we do got a lot to share so let's dive right in. Bitcoin's been on a tear this week. We did tap about 100107 yesterday during the live stream coming within $1400 maybe even 1300 of striking distance from price discovery. This morning we did recapture 110 and we're currently trading at around 1096 at the time of the live stream which you can see live and on your screen. Let me know if you feel we'll break that coveted 112 all time high. Let me know in the comments. And pulling up coin360 for a little market watch. Here you can see bitcoin trading at around 1096. Ether big gainer up 7% on the day just shy of 2800. Virtually all the major cryptos in the green minus XRP down a half a percent on the day. And checking out coinmarketcap.com the current crypto market cap back on a rise. I love it. 3.43 trillion. The all time high is 3.75 trillion. We're fast approaching bitcoin market cap back on a climb just shy of one $2.2 trillion. We got 144 billion worth of volume past 24 hours. Bitcoin dominance 63.3%. Ether dominance took a jump today currently at 9.7%. And checking out top 100 crypto gainers. Pass 24 hours we got Unis Swap leading the pack up a whopping 26%. SPX up 17% and the infamous fart coin up 14%. Is alt season amongst us. What are your thoughts and are you bullish on any of these particular alts? Holl at you boy. And checking out the infamous crypto bubbles. Get a visual perspective on a day. Safe to say almost everything in the green. Take a step back for the weekly video. Very similar. I'd say 90 or at least 85% of the market in the green zooming out on the monthly. And that's when you get humbled. The majority of the alts wrecked and zooming out for the year. I dare say it's like maybe 60, 40 right over green. Just checking out the crypto greed inferior index. Today we're back in greed with a 71. Yesterday 62 last week 60 foe and last month a 70 in green. Checking out the infamous time chain calendar. We're currently on block number 900, 642. I think within the next week we'll be at the coveted I guess it'll be 9001000 and before you know it we'll be at the million milestone. Max Kaiser says expect a surprise I guess embedded into that block. What do you think that message is going to be? And I think it's going to be pretty lit. Personally, I can't wait. And as of today you can exchange one fiat monopoly dollar for 913 sacrifice stats. So you know what to do. Broski. Pick up the stats, put down the gas and pick up some Bitcoin caps from my man sergio over@bitcoin caps.net let's now dive into our TA aka astrology for the Baddies and we'll pull up some of the live charts. Headline reads Bitcoin traders now see 107 retest before a new All Time High I'm skeptical. I think we're going to see the new all time high before the 107 retest, but we're going to entertain it nonetheless. This is the one hour chart and I'll pull up the live charts here shortly. Uh, an analyst says here despite Vague Affirmations from U.S. officials with terms like fruitful and good meeting dominating the post talk rhetoric, the absence of substantial breakthroughs saw global risk assets pause, according to QCP in which they shared in their latest report. Also McAlvin a pop. Another analyst says the first period of consolidation typically lasts a few days. Then we're going to have the next breakout above the All Time High.
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JV
Now. I agree with that all time high incoming but he says ideal zone to buy with estimate around 107 108. I dare say the ideal zone to buy is always in the present because that's the true gift from God. All hell Satoshi. Just saying. Another Analyst Mark Cullen Flag 1077 or 107 I should say as possible dip zone for a quick retrace and a fast buy. Other scenarios included a second retest of 100. Well here's the thing. Shorts have been getting wrecked like it ain't no thing as we continue to bull. He also put key levels are 106 and 98 for the bullish continuation into the summer. I dare say we me we may never see sub 100,000 ever again. But let me know your thought on that including QCP here with us CPI data scheduled for release tomorrow. Investors are treading cautiously. The risk is that continued diplomatic and ambiguity morse into the headwind for the broader risk sentiment market. See little chance of a rate cut before September while U S President Trump has reportedly or repeatedly demanded the Fed action be brought forward. So we'll keep you up to date with some of that and pulling up some of the live charts. We'll do a little live chart action Jackson Satisfaction, Bo Jackson and Tony Braxton for the Baddies should be able to see the live charts right here any moment. Let me switch it from the Rumble Chat so you guys can interact with the YouTube chat and there we have it. Should be able to see and interact those live and interactive. For those that don't know this is live chart Action Jackson this is the 1 hour 1, 2, 3 Big Green consecutive candles as we continue this bullish momentum zooming out from the one hour, let's take a look at the four hour. Then we'll look at the daily and the weekly and of course the monthly. Let's see what the the four hour shows us four hours right here pulling up live it in the flesh via TradingView via Coinbase and no particular targets on the four hour. But you can see we had a nice pump up here today and yesterday. So let's zoom it out a step further. Checking out the daily and the daily says it's going up forever. Nip Anator that's right. Hence the Nip Anator indicator never disappoints. New all time highs in play I dare say. So you can see yesterday big green candle again we hit around 1107 just shy of 111,000 taking us roughly 1300 away from current price discovery. Next leg up I dare say is going to be that 124 Sexy cup and handle target we'll see on the next chart when I pull up the weekly and we have a couple of bear scenario plays which I'm not even going to entertain because it's a bunch of malarkey at the end of the day, you know. I mean if you want to get bearish price actions, tune in to Peter Schiff, Jim Kramer or Garrett Solway is all I'm saying. Nothing but bullishness with the nip andator indicator rising wedgie formation sensation. We don't need no education is all I'm saying. Just stack the biddy. You can see the sexy cup of handle target and really what I want to outline here is check out the trend. We've had seven green pretty substantial green candle closes all consecutively which is very rare that's the most we have ever had. Then in the 8th which was Sunday we had the corrective candle and it looks like we're pumping again back in the green as we continue to the bullishness in the market. Let me know when you feel we'll likely hit that 124 at least break out and achieve the current 112 all time high which was achieved on May 22nd. Do let me know. And zooming out a little further from there, taking a quick look at the monthly considering it's June 10th, we still got another what, 20 or 21 days to go. However, April and May were nice green candle closes and already for the month of June we're forming a nice green close as we continue moving up forever. Laura Exciting times in the market. But let's continue with pre l Bitty news regarding black rock surpassing $70 billion from their Bitcoin ETF, which is groundbreaking. It's the fastest any ETF has ever grown since the inception of ETFs. So this is a pretty big deal. And as you know, Black Rock is the largest asset management giant in the entire world. That's right. Black rock Bob Big EDF has become the fastest ETF in history, surpassing 70 billion in assets under management. Ibit just blew through the 70 billion is now the fastest ETF to hit that mark in 341 days. I repeat they achieved 70 billion in assets under management with their Bitcoin ETF in less than one year. Let that one sink in. Briskis Eric Baluna said the milestone was approximately five times faster than the record holder which was gold. Take that shiftmeister which took 1691 trading days to reach 70 billion. So Bitcoin is growing faster than the gold ETF.
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JV
You gotta dig it. Respect the pump. IBIT listed on the Nasdaq Stock Exchange holds 71.9 billion in assets under management. According to their website. The firm's holdings is 661457 Bitcoin, making it the largest institutional holder of Bitcoin ahead of the exchange Bance, which has 629000 and Sailor has 582 000. Ironic. They all. If you round to around 600000 they all approximately have about the same. Which is 3% of the circulating supply. So Binance has 3% of the Bitcoin supply. Sailor has 3% of the Bitcoin supply. BlackRock has 3% of the supply. Add that up. That's 3, 6, 9% of the Bitcoin supply. And then you got Satoshi's wallet which has like 5% of the supply. And you start to realize how scarce this truly is. The largest holder bitcoin still believed to be Satoshi and they say he has roughly 1.1 million. Which are really the term I use is a chess term. Stalemated. They're never ever gonna move. And it makes our bitcoin that much more scarce. Limited supply right now. Baltuna said May 20 BlackRock will likely surpass Nakamoto's holdings. Holy. That's insane. How fast they're growing. Yo. I bet shares are trading for 61 bucks and 77 cents at this time. Up 5% over the past five days as Bitcoin reclaim. 110 yesterday we got pretty close to 111. And we're on the cusp of reclaiming it here again today. Now since IBIT launched in the US January 2024. It was January 11th to be precise. It has outperformed the other 10 spot ETFs which you would anticipate. And that launched the same day being they're the largest in the world as far as asset management giants. I believe it's like 1112 trillion assets under management total. Now most recently the ibit ended the 31 day inflow streak with the largest daily outflow of 430 million. And in April IBIT was awarded the best new ETF at the annual ETF Awards. Who would have funk if there's actually ETF award shows anyways? Although some bitcoiners argue that the widespread institutional adoption undermines Bitcoin original purpose, many of its earliest advocates disagree. For example, Blockstream CEO Adam Back shared. You have to have some empathy for the people who want to buy Bitcoin but they don't know how to do it and it's just too complicated. You can't fix our target. Right. There are limits to the tolerance though. You also don't really want 90 of the ETFs or something because that might start to become a problem. Precisely. Now you already know. I mean everyone has a different opinion and opinions are like we all have them. So I dare say stack bitcoin, but in under certain circumstances it may be more advantageous for certain people under certain predicaments to use a rapper such as Micro strategy, Black Rock or an etf. Personally I'm old school. I don't trust nobody. If you guys haven't figured that out, that's why my best friend's a dog. I mean the most trustworthy companion a man can have. But I trust nobody and nothing and no rapper. So I only trust bitcoin and just to keep it 100 I trust God, I trust Jesus, I trust Nipsey, my dog, I trust my mom. Really there's nothing else on that list. So for me there is no second best. But maybe I am based and it is what it is. All right, next story of the day Family, let's continue where we left off. Still got a lot to share. Did we discuss that the 5 billion bitcoin buy? Let me just see where we left off. We did the Black Rock, correct? Yeah, we did Black Rock. So next is the the Coinbase premium with the 550,000 bitcoin and I may have not updated this. I actually did update it but my software was glitching and it kept resetting my so don't pay attention to the sidebar which just threw myself off here. I did update it but it didn't fix itself. But nonetheless, Bitcoin Coinbase Premium Hits 4 month high is 550,000 of the Biddy leaves the exchanges. Could this be the ultimate supply shock we've been waiting on? Now let's discuss it. US Bitcoin demand is staging a convincing comeback as the Coinbase Premium tags multi month highs. I repeat, multi month highs. The premium which reflects the difference in the price between the Coinbase Bitty and the Bance pairs, is often used as a proxy for the US buyer appetite and on Friday it reached 109.5, marking the largest gap between the two markets since February 3rd and one of the quick tail market updates Crypto Quant Contributor Crypto Crypto Dan what a plan. Describe supportive behavior from the Coinbase users quoting them here. This positive movement without signs of overheating is typical pattern seen in a rising cycle following a correction suggesting optimistic movements in the crypto market in the second half of 2025. The premium trend comes as US institutional demand also returns after monetary unwinding due to Bitcoin retesting that 100,000 support. Ryan Reynolds here here from Mint Mobile with the price of just about everything going up. 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JV
C mobile.com crypto quant flag declining exchange reserves as an ongoing catalyst for the Bitcoin price strength. I mean basic math. Very limited supply, massive demand equals we're going up forever. Laura Be prepared. Every rally is in the result of unseen preparation as bitcoin marches to 110 which we recaptured earlier today as well as yesterday. The answer is simple. They're pulling the bitcoin off the changes slowly but surely with steady determination. I mean charts don't lie. Look at it right here. Bitcoin exchange reserve and the spot exchanges. This is the lowest number we have seen in like the last seven or eight years. Can you say supply? Shocky shock. People aren't selling, they're huddling. They're not day trading, they're holding for the long term. That's precisely what they're doing right now. And if you don't know, maybe now you know. The next headline bank of Japan pivot to QE may fuel a Bitcoin rally according to Arthur Hayes just blazed. That's right, the bankage ban upcoming monetary policy meeting in June may provide next significant catalyst for the global risk assets like stocks in crypto. The bank of Japan is set to take the next interest rate decision at its upcoming monetary policy meeting June 16th to the 17th. The central bank may provide the next significant catalyst for the biddy and other risk assets if it pivots to qe. According to Arthur Hayes just blazed billionaire entrepreneur himself Yahtzee MOFOs. If the BOJ delays the QT and restarts the selected QE at the June meeting, risk assets are going to fly. Let it rip Tater Chip. QE refers to the central banks buying the bonds and pumping the money into the economy to lower the interest rates and encourage the spending during the difficulty financial conditions as Arthur Hayes outlines here, I don't think the ordinary Japanese plebs would agree. If the bank of Japan delays the QT and restarts the selected QE at its June meeting, the risk assets are going to fly. They'll let them fly already. June 31, 2024 the bank of Japan introduced a plan to cut the government bond purchases by 400 billion yen per quarter starting in August of 2024, with the quantitative Tightening plan set for the interim assessment period at the upcoming meeting June 16, signaling a potential opportunity to pivot, which is this coming Monday. BOJ officials are reportedly discussing making smaller reductions to the bank bonds buying from the current 400 billion to 200 billion yen per quarter starting from the April 2027, according to unnamed sources familiar with the matter. Hence, they told Bloomberg, I don't know bitcoin rose to 112 all time high May 22nd and we're on the cusp of recapturing that all time high. Live it in the flesh. We just recaptured 110 yesterday and recaptured it again today. So new all time highs in play. Let me know where you feel will likely be trending as far as the price action is concerned. Our next story here. Sorry, we're not here yet. We're here. Trump backed American Bitcoin accumulates 215 bitcoins since their April launch that's right, American Bitcoin is bitcoin mining firm backed by Trump's two eldest sons, Eric Trump and Don Jr. So everyone except time traveler Baron. He has quietly built up a 215 bitcoin reserves since the April 1 debut. The company, formerly known as ABTC is positioning itself not just as another mining venture, but as a long term accumulator of the bitty, as it disclosed in the June 6 filing with the US SEC. The stash, currently worth? 23 million, was not previously disclosed. ABTC considers its reserve a core strategic asset managed adaptively to support the balance sheet strength with a view of enhancing the long term stockholder value, according to the firm. The firm added the accumulation strategy is open ended, meaning no fixed bitcoin target exists. Instead, it continually assesses market conditions to raise capital when favorable and expand its holdings, ultimately saying they're going to be buying the top forever. Laura Bitcoin accumulation is not a side effect of the ABTC's business. It is the business. It's my bitty business. It's my bitty business. ABTC's Layer 2 strategy is designed to transform the bitcoin production into the long term bitcoin ownership and I know their goals become the largest bitcoin miner I believe currently it's marathon which is the largest. In the filing, ABTC said it invests directly into mining rather than investing in physical infrastructure. The Firm owns over 60,000 of the miners and I ain't talking about Peter Schiff trying to strike a miner primarily from bitmain and micro BT deployed across the three hut 8 manage hut 1, hut 2, hut 3 hut facilities in New York, Alberta and Texas. These miners operate I ain't Talking about the A minor miners operate as a combined hash rate of 10.17x the hashes per second, an average efficiency of 21.2 joules per terahash. The partnership with Hut 8 allows the ABTC to keep the overhead low while scaling the output and preserving the capital flexibility. Respect my authority. ABTC miners contribute to computing power established in pools like Foundry and Luxor. Daily mining rewards are distributed based on hash rate. Hash yes please the new McCrispy strip is here. Dip approved by Ketchup Tangy Barbecue Honey Mustard honey mustard, Sprite, McFlurry Big Mac sauce Double dipped in Buffalo and Ranch More Ranch and creamy chili McCrispy strip dip now at McDonald's contributions with pool fees kept below 1% and at the core, ABTZ runs on what's called the three tiered strategy, the Holy Trinity of the mining. This includes building a cost efficient mining operation, leveraging capital to grow the biddy reserves and playing an active role in the Bitcoin broader ecosystem. ABDZ stores the Bitcoin and a custody of Coinbase called Wallet supplying Multi Factor Authentication white listed withdrawal protocols to improve this account security. That's according to the firm. And on May 12, American Bitcoin announced plans to go public through a merger with Gryphon Digital Mining. The deal will be structured as a stock for stock transaction with the merged entity operating under the American Bitcoin brand. Meanwhile, Eric Trumpster himself will sit on the company's board following the merger. Furthermore, American Bitcoin is majority owned by Hut 8, which will retain the management role post merger. Under the agreement, the current American Bitcoin shareholders will hold approximately 98% of the new company. Hut 8 will continue managing mining infrastructure and operations with expectations of generating stable revenue through the long term Commercial agreements and you already know from Trump speech he gave in Nashville last year he wanted to make America the Bitcoin mining hub of the world and this is his company he has a partnership with. Will it soon be the largest miner in the world? I mean, if they have the intent of following through on their word, it very well could be. But you guys let me know your thoughts and I'll read your comments out loud. Apple should Buy Bitcoin According to Michael Sailor's tweet as their share buyback disappoints. And Sailor also predicts Bitcoin soaring 12,328% to 13 million per coin. It was also on the news on TV today projecting Bitcoin hitting a million dollars per coin a lot sooner. Sooner than many of you are anticipating. So let's break all this down and shout out to the Gigachad there is no second best, so let's break this baby down. Apple, the world's fourth largest company by market cap should buy Bitcoin to address the poor performance of a stock buyback program, according to the executive chairman of strategy Mikey Sailor. In fact, he actually responded to Jim Kramer on X and said Apple should buy bitcoin. Sailor's comment responded to KRA Kramer's criticism of the Apple buyback program as outlined right here. Kramer wrote the Apple buyback is not working right now. The company can leave it in to earn a lot or can take some to integrate. It is not a badge of dishonor. It just isn't. And then Sailor responded, shut the up. Jim Kramer. Apple should buy bitcoin Precisely. Apple's buyback program aims to reduce the number of outstanding shares and return the value to the investors. According to the 110 billion dollar stock buyback program which was announced May of last year with the filing with the at the US sec and here you're looking at one of their charts. Apple stock has declined more than 17% since the start of the year. I mean bitcoin would definitely be a game changer for them. And I know like Steve Wck is extremely bullish on bitcoin. If you've never listened to his interviews, we have covered them multiple times throughout the years. Over the same period, Bitcoin has gained more than 17%. Duh. According to data from Trading View zooming out, Bitcoin serves over a third th000% which is virtually a 10x in the past five years compared to the 137% increase in Apple shares. So it's outperforming Apple by a factor of roughly, you know, 9x or more. Now the call for Apple to adopt Bitcoin comes as more companies move to add the crypto to the balance sheet. On May 28, US video game consumer electronics retailer Gamestock announced its first Bitcoin investment acquiring 4710 Bitcoin for for 513 million. And I believe that announcement came from the big conference in Vegas when the Firm launched a 1.3 billion convertible notes offering here's the official announcement announced from Gamestop themselves on X. We also have the Japanese investment company Meta Planet spearheading bitcoin adoption. They just made a massive announcement to raise 5.4 billion worth of capital to buy more bitcoin. We covered that in great detail yesterday. If they follow through with their video very bullish plan, they can become one of the largest holders of bitcoin. Obviously following micro strategy. Now over in Europe, Paris based crypto firm the Blockchain Group announced plans to raise 340 million for their bitcoin treasury. And the announcement came a week after the firm acquired 68 million worth of Bitcoin pushing the total holdings to 1471 Bitcoin or over 154 million. Meanwhile, as we discussed the spot Bitcoin ETFs have been accumulating the like a mofo. Black Rock now has well over 600,000 bitcoin leading the race for the institutions. I also want to touch upon this. Michael Saylor predicts Bitcoin soaring 12,000.
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JV
Sourced parts 320 the 13 million per coin over the course of the next 20 years and actually transcribed one of his recent interviews with Natalie Brunel from Coin stories and I feel it's relative here. So here's quoting the Gigachad and I transcribed it myself so I know it's 100 accurate. I think the best way to get 100x returns as an individual, which was the question he was asked by Natalie, would be keep your day job. So to maximize the cash flow you generate by whatever your profession is. So don't quit your day job. You're responsible on your expenditures. You have to think in the year 2045, 20 years out, I think a Bitcoin is worth 13 million and I dare say that's conservative. So every bitcoin you don't buy is really a $13 million cost. Exactly. So that rari you're going to buy is going to cost you 6 bitcoin and so it's going to be a hundred million dollar rari if you look out 20 years. So you have to keep your job unless you're already insanely rich. Don't splurge on the rari, buy the 6 bitcoin instead. And with regard to the leverage, the intelligent leverage for the individual is generally long dated, for example mid dated mortgage debt. So if I have any kind of property like a house, I would put a long mortgage on it, 10, 15, 20 year mortgage, especially a conforming loan and, and then roll it over into Bitcoin because mortgage debt is not marked to market, it's against an asset which is fairly stable. Normally the interest rates are subsidized by a Fannie Mae or Freddie Mac program or government program. So it is the cheapest form of permanent capital that someone could get. So I give you what you should not do. You should not quit your job. You should not splurge on sports cars you can't afford such as buying those Raris or Lambos. And don't buy a yacht because it's insanely expensive. And don't pay off your mortgage. Don't get debt free. There's some advice from the gig at Chad. I mean obviously I don't really have to add anything to that, but I do want to dive a little deeper into this particular prediction he made on cnbc. Squawk Box. Sailor has once again doubled down on his bullish Bitcoin outlook. Speaking on Squawk Box, he predicted Bitcoin reaching a jaw dropping 13 million per coin within 20 years, which is a surge of 12,328% from the current price. Sailor first made this prediction back at the 2024 Bitcoin conference last year in Nashville, the same conference Trump was at, projecting a 29% annual return. He's even more optimistic now, raising that to a 40% annual growth rate which can push Bitcoin to 13 million per coin a lot sooner. But you guys let me know your thoughts surrounding that. And the million dollar question. Will Apple eventually adopt Bitcoin and put it on the balance sheet? Well, any of the other top companies, I think it's Nvidia, you know, multi trillion dollar market cap. We have Apple, we have Microsoft and we have Alphabet. Those are, I think, correct me if I'm wrong, the largest companies by market cap. When will they start adopting bitcoin? We have Amazon up there as well. I think that's going to be the real game changer. I think when retail especially, especially also adopts it. For example, a Walmart, which is one of the largest retailers in the World or Amazon, which I would dare say is the largest online retailer, and start incentivizing people to use their bitcoin, they're going to save billions of dollars in merchant fees from the legacy payment rails like MasterCard, Visa, Amex or whatever. And it's also going to be advantageous for you guys because maybe they give you a 10% discount to incentivize the bitcoiner to actually spend their bitcoin, you got to incentivize us. Otherwise we're just huddling for life. Take that. Just saying. But anyways, there you have it, yo. And we're going to continue with the uncensored version of the Pod exclusive on X and Rumble. So if you're watching on the YouTube, you ain't got to go home. But the stream is going to end. I encourage you to join us. I'm going to stick around for a bonus hour live with the Nip Nip NATOR indicator, live and in the flesh. And, and we'll, we'll go from there. So deuces to the YouTube, head on over to the Rumble. The direct link is rumble.cryptonnews alerts.net or join us on X. And let's continue with the live stream. And don't forget to check out cryptonews alerts.net for the full premium experience with video and to participate in our live Q and A. And I look forward to seeing you on tomorrow's episode. Hodle can.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
Episode: 2018: ‘Apple Should Buy Bitcoin’ - Michael Saylor Predicts 12,328% BTC Rally
Host: Justin Verrengia
Release Date: June 11, 2025
In this episode of Crypto News Alerts, host Justin Verrengia delves deep into the latest developments in the Bitcoin and cryptocurrency landscape. The episode covers a range of topics, including BlackRock's groundbreaking Bitcoin ETF, Coinbase's premium metrics indicating a supply shock, potential monetary policy shifts by the Bank of Japan, and a bold prediction by Michael Saylor regarding Bitcoin's future valuation. The discussion is enriched with technical analyses, market insights, and expert opinions, providing listeners with a comprehensive overview of the current state and future prospects of the crypto market.
Market Performance: Justin begins by highlighting Bitcoin's recent rally, noting that it has recaptured the $110,000 mark and is approaching the $112,000 all-time high. He states:
"Bitcoin pumping back in the green. We did recapture 110 within a couple of thousand away from price discovery."
(00:54)
Technical Analysis: The host presents a technical analysis using live charts, emphasizing a bullish trend with consecutive green candles. He shares a quote from an analyst suggesting a retest at $107, though he personally anticipates surpassing this level before any retracement:
"Despite vague affirmations from U.S. officials... the absence of substantial breakthroughs saw global risk assets pause."
(05:00)
Market Metrics:
Investor Sentiment: The Crypto Greed and Fear Index is in the "greed" zone at 71, indicating strong bullish sentiment among investors.
BlackRock's Achievement: A significant portion of the episode is dedicated to BlackRock's Bitcoin ETF, iBIT, which has surpassed $70 billion in assets under management faster than any other ETF in history. Justin remarks:
"BlackRock's Bitcoin Fund blows past 70 billion in record pace for ETFs. That's the fastest any ETF has ever grown since the inception of ETFs."
(09:00)
Comparative Growth: iBIT reached the $70 billion mark in just 341 days, outpacing the previous record holder, gold ETFs, which took 1,691 trading days. This rapid accumulation underscores institutional confidence in Bitcoin's potential.
Institutional Holdings:
"They all approximately have about the same, which is 3% of the circulating supply."
(12:00)
Implications for Bitcoin's Scarcity: With major institutions collectively holding around 9% of Bitcoin's supply, alongside Satoshi Nakamoto's estimated 5%, the episode underscores Bitcoin's increasing scarcity and institutional adoption.
Coinbase Premium Metrics: Justin discusses the significant rise in Coinbase Premium, which measures the price difference between Coinbase and Binance. The premium has reached a four-month high of 550,000 BTC leaving exchanges, signaling a potential supply shock.
"Bitcoin Coinbase Premium Hits a four-month high as 550,000 Bitcoin leaves the exchanges. Can this be the ultimate supply shock we've been waiting on?"
(14:00)
Expert Insights: A quote from Crypto Quant Contributor Crypto Dan highlights the positive market behavior:
"This positive movement without signs of overheating is a typical pattern seen in a rising cycle following a correction."
(16:00)
Supplier Withdrawals: The reduction in Bitcoin on exchanges suggests increased HODLing, contributing to the supply shock and potentially driving prices higher.
Monetary Policy Implications: Justin explores the possibility of the Bank of Japan shifting its monetary policy from quantitative tightening (QT) to quantitative easing (QE), as predicted by Arthur Hayes.
"If the Bank of Japan delays the QT and restarts the selected QE at the June meeting, risk assets are going to fly."
(20:00)
Economic Impact: Reintroducing QE would involve the BOJ purchasing government bonds to inject liquidity into the economy, lowering interest rates, and encouraging spending—all of which could serve as catalysts for a Bitcoin rally.
Current BOJ Strategy: As of June 2024, the BOJ had been reducing government bond purchases by 400 billion yen per quarter, with discussions underway to possibly reduce this to 200 billion yen, signaling flexibility in their approach.
Company Overview: American Bitcoin (ABTC), backed by Donald Trump Jr. and Eric Trump, has amassed 215 BTC since its April launch, positioning itself as a major institutional holder.
"American Bitcoin has quietly built up a 215 Bitcoin reserve since the April launch."
(23:00)
Strategic Goal: ABTC aims to transform Bitcoin mining into long-term ownership, integrating directly into mining operations rather than just investing in infrastructure. They own over 60,000 miners across facilities in New York, Alberta, and Texas, operating with an average efficiency of 21.2 joules per terahash.
Public Listing Plans: ABTC announced plans to go public through a merger with Gryphon Digital Mining, with Eric Trump joining the company's board post-merger.
Saylor's Vision: In a bold prediction, Michael Saylor forecasts Bitcoin reaching $13 million per coin within the next 20 years, representing a 12,328% increase from current prices.
"I think a Bitcoin is worth $13 million and I dare say that's conservative. So every Bitcoin you don't buy is really a $13 million cost."
(27:00)
Investment Philosophy: Saylor advises individuals to maximize their financial potential by maintaining their day jobs and investing consistently in Bitcoin rather than splurging on expensive assets like luxury cars or yachts.
"The best way to get 100x returns as an individual... keep your day job... Buy the 6 Bitcoin instead of a $100 million Rari."
(28:11)
Market Adoption: Saylor's prediction also touches on the importance of major corporations, like Apple, adopting Bitcoin to enhance their balance sheets and leverage the cryptocurrency's growth potential.
Rationale for Adoption: Justin discusses Michael Saylor's assertion that Apple should invest in Bitcoin to counteract the underperformance of its stock buyback program. Apple's buybacks have not yielded the desired returns, and shifting funds into Bitcoin could provide substantial growth.
"Apple should buy Bitcoin to address the poor performance of a stock buyback program."
(29:00)
Comparative Performance: Since the start of the year, Apple’s stock has declined by over 17%, whereas Bitcoin has surged by a similar percentage, showcasing Bitcoin's superior performance.
Industry Trends: Other companies like GameStop, Meta Planet, and European firms like Blockchain Group are also making significant Bitcoin investments, indicating a broader trend of corporate adoption.
Justin concludes the episode by reiterating the bullish outlook for Bitcoin, driven by institutional adoption, reduced exchange reserves, and potential monetary policy shifts. He emphasizes the importance of strategic accumulation and staying informed through platforms like Crypto News Alerts.
"Charts don't lie. Look at it right here. Bitcoin exchange reserve and the spot exchanges. This is the lowest number we have seen in like the last seven or eight years. Can you say supply shock?"
(17:30)
He invites listeners to engage with the content through various platforms, including YouTube and Rumble, and encourages them to stay tuned for more in-depth analyses and live discussions.
Justin Verrengia:
"Bitcoin pumping back in the green. We did recapture 110 within a couple of thousand away from price discovery."
(00:54)
Crypto Quant Contributor Crypto Dan:
"This positive movement without signs of overheating is a typical pattern seen in a rising cycle following a correction."
(16:00)
Michael Saylor:
"The best way to get 100x returns as an individual... keep your day job... Buy the 6 Bitcoin instead of a $100 million Rari."
(28:11)
Stay Informed:
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HODL!