MAJOR CHANGE FOR BITCOIN

[00:00:00]A couple countries just passed very pro- crypto legislation while the Clarity Act is on base. We have Bitcoin passing 66,000. We have a major Bitcoiner stepping down from his company, someone really wellknown, I'd say maybe second or third most wellknown behind Michael Sailor. And we also have Black Rockck. I think a lot of people are forgetting how profitable the Bitcoin ETFs were for the major banks and I think we have to revisit that. If you don't mind though, hit subscribe so you can see future videos just like this. The market is looking green. If you do want to trade crypto, we'll be looking at some technicals today. If you do want to trade crypto though, there are links underneath the video. You can check out Yubit. Right now, we have a special bonus where if you hit a couple thresholds, you can get $50 a week and you get some extra bonuses, too, when you use my link. There's a link to Bitfi, which Bidfi just has the best rewards by far of every exchange I've ever seen. Um, constantly giving back to anyone that has ever signed up under my link. Just depending on how much you trade, you can get up to $10,000 basically a month. We've run it every single month um for 15 months, 16 months in a row now. You can get up to $10,000 worth of Bitcoin just for trading on the platform. And there's a link to BTCC as well where you can get 10% first-time deposit bonus, lower trading fees, um, and, uh, up to $10,000 per user. So, check these out. They're in the link tree underneath the video. You can trade stocks on those platforms as well, which I have been doing a bit. Now, let's just take a look at the pre-market. We'll we'll turn to Bitcoin in a second, but the market's looking pretty green.

[00:01:39]NASDAQ up 1.33%.

[00:01:41]AMD was really le leading the way. Last time I looked it was up 4%. S&P 500 slightly green. Dow Jones slightly green. Stock market looks great, but uh Bitcoin looks even better. I'd say relatively up 3% to 66,000 600. Now we know a lot of banks have been crushing earnings, which is a good indication to the future. Um Charles Schwab announced their earnings today. They beat EPS by 5%, revenue by 2%. EPS is up 42% year-over-year. Revenue up 21%. Um, they're up 2% in the pre-market. A lot of banks just crushing earnings, which is a very good sign for the economy.

[00:02:19]Now, what's causing the broader market to go up today? There's not too much. Um we have we have people feeling a little bit more comfortable about semiconductors realizing uh a couple days ago right last Friday I think it was there was this worry that maybe compute isn't as con constrained there's some Chinese uh open model that is drawing market share and people are thinking that you know anthropic and chat GBT are going to die uh and that there's going to be less compute needed but no I mean right now if any individual company stops using compute that makes everyone else want more compute because they want to steal those users, right? So, I think people are starting to realize that that there's still a lot of demand, right? And of course, we do have a big earnings week.

[00:03:05]We have Alphabet, Google tomorrow, Tesla, IBM. So, we'll have a better indication as to what is happening in the AI world. But, uh, yeah, be on the lookout for that. Now, let's move over to Bitcoin. Bitcoin still is moving between the 200E simple moving average and the bare market resistance band. The 200E simple moving average is typically a a very good point to be buying Bitcoin. In the past, this has kind of been where we bottomed out. Last cycle, we spent some time below it a couple months. Um, we've already moved below it this cycle. Uh, you can see we wicked below it for maybe a week or so, but then the the bare market resistance band, we stay below it during the bare market, move above it during the bull market. Um, obviously this is a point of resistance. It's in right around 72,000, which is kind of a key psychological level. We got rejected by 74,000 back in um, April. I I believe it was now March of 2024. We held it as support back in 2025.

[00:04:11]And yeah, this could be a significant point of resistance again if we even get up to 74,000. would not be surprised if we got rejected before that, but Benjamin Cohen thinks that we'll still see a strong July. Um, keep in mind, typically we bought them October, November. So, be on the lookout for that. Uh, obviously, if you do want to trade that, you can check out those links underneath the video. There are some fundamental things that are happening, um, which you might not hear about unless you're like deep on Twitter. Japan just passed its crypto market structure law on July 15. FEA reform is done. They basically cut taxes from 55% to 20%, 105 tokens were reclassified as financial instruments, Bitcoin, Ethereum, and XRP among them.

[00:04:57]We're still waiting on the Clarity Act, though. So, they're still discussing it.

[00:05:02]We've been waiting for it for a year.

[00:05:04]This was something that a lot of people were excited about during the bull market, thinking that this could send us even higher. But like a lot of things, uh, at the end of the bull market, it doesn't really pan out. It gets pushed off and then we start the bare market and then we just have to continue waiting on them, which is pretty frustrating. I do think this could kind of mark the bottom though. Um, a lot of people are pointing to that there's an August recess in a few weeks, so we could see, you know, a another delay on it if it doesn't get passed soon. Russia also passed law that regulates the circulation of digital currencies and digital rights in Russia for the first time. Now, Russia is one of these places that's somewhat similar to China where like things flip very quickly where they'll say this and then like a week or two from now we'll hear that Bitcoin's banned or something. Um, it's not quite as bad as China, but I feel like they flip-flop a lot. Uh, at least the news reports a lot of different things. So hopefully hopefully people in Russia can you know legally buy hold trade Bitcoin that kind of thing and uh not have to pay enormous amounts of taxes on it but we'll see. So 3 weeks the US Senate leaves for August recess again. I think we just have to wait for it. Now, I think a lot of people also forget that it's not just like you and me that want Bitcoin laws passed, that want um pro- crypto legislation, that want Bitcoin to return. A lot of the major banks want Bitcoin to do well. I mean, in the last bull market, a lot of big banks started to bet more heavily on Bitcoin, spending ad dollars, spending time, um, uh, and pushing to clients these Bitcoin funds, right? IBIT, FBTC. Um, a lot of these grew very quickly. And I remember being in airports where I was getting ads relentlessly for some of these products.

[00:07:02]Like on every standup kiosk, it seemed like every map of the airport there were running ads about these Bitcoin ETFs.

[00:07:12]And we have to remember how successful these things were and how much money this made these companies. Um, BlackRock hit 100 billion in aumum last October.

[00:07:26]They had 100 billion in assets. They're charging a 0.25% fee. So, they're making $250 million a year. This was more than they were making from any other ETF.

[00:07:38]This was more than uh more than Vanguard was making from their crown jewel, their VO ETF, which has the most assets under management of any ETF in the world cuz remember they only have a 0.03% um fee on VO. So with eight times the fee 0.25% 25% on IBIT. This was a cashmaking machine for Black Rockck.

[00:08:10]So, this also gave them some goodwill because a lot of investors made a lot of money. At least like early investors, some of their wealthier investors that got in when they're kind of pushed towards it by Black Rockck, they made a lot of money and they're still up a significant amount. They had a private fund that opened when Bitcoin was 20 or 25,000 and then they went live when Bitcoin with IBIT when Bitcoin was 39,000 to 42,000.

[00:08:35]So nearly every early investor still is up on IBIT. Um but if you bought during the deeper parts of the bull market, maybe you're not. So I I think you have to remember these big banks want Bitcoin to return just like you and me. They want these crown jewels, these big money makers to double and triple in uh AUM and I think they're going to I think they're going to push it very hard at the beginning of the bull market because they can make investors a lot of money.

[00:09:06]They realize the timing. They can start shifting attention and um bullishness into Bitcoin after we typically bottom.

[00:09:14]If you've noticed, uh, Larry Frink is not nearly talking about Bitcoin as much as he used to. I think the one of the reasons is there's not much of a payoff, right? If you talk about it in the bare market before we typically bottom, like you're probably not going to change the entire market cycle. So, you might as well just wait and then just jump on the bandwagon at the beginning parts of the bull market. And let's say they make let's say they get $200 billion in AUM this cycle which I think is going to be easier than getting a h 100red billion last cycle because Bitcoin is going to be higher in price and more people will feel more comfortable with it. It's seeped into more um more of finance and also just like with the Clarity Act, it'll be easier to push it to large institutions and um to talk about it and CNBC and be super bullish. So let's say they get up to 200 billion. Okay, that's half that's half a billion dollars in fees a year. Keep in mind they can put it in other portfolios and then if it brings up the AUM of those other portfolios cuz it outperforms it can give them like double fees on that as well. So I I think you have to realize that that's coming right. We have a big tailwind when we typically bottom. We have a big tailwind in all these major banks pushing it. They're also hitting record high like revenue and and uh EPS and I think they're going to want to continue that and this is going to be a very easy thing to push. Let me know your thoughts on all this underneath the video. Let me know what you think about uh the ETFs and if they'll really explode this this cycle. I mean, they did extremely well last cycle, but it was the first couple years that people had exposure to them, and a lot of people couldn't get exposure yet because it hadn't passed compliance uh with whatever, you know, whatever company they work with. So, a lot of, you know, a lot of companies came and sell. Morgan Stanley, I think, is the one recently that just started an ETF um years after the other ones were approved and they weren't I don't think they were given authorization to sell any other ETFs. I know people at other large financial institutions, right, the largest financial institution uh for financial adviserss in the world and um they're not allowed to sell Bitcoin ETFs unless someone brings it to them and even then they have to be very careful what they say. So things will change over time. Man, I almost forgot the major Bitcoiner that is leaving.

[00:11:42]Let me know if you've made it this far in the video by telling me what you're drinking. I have a coffee here and a water, but uh Jack Mers just said that he's leaving 21 Capital. I won't play this whole video because it's 4 and 1/2 minutes long, but basically he just said that, you know, he had a they created 21 Capital to buy Bitcoin and to buy cash flowing Bitcoin businesses. He and the board had disagreements on how to go about that. So, he's going to step away.

[00:12:07]He's going to focus on strike. I'd say he's one of the most well-known Bitcoiners out there. Um, he speaks at every Bitcoin conference. Very outspoken, very young guy, lots of energy. Um, and yeah, just leaving 21 Capital now. 21 Capital is down a little bit last time I checked. Okay, it was down only 2% in the pre-market. Now down 10%. A lot of these treasury companies are doing very poorly.

[00:12:33]uh during the bull or the bare market.

[00:12:35]So, I'm not surprised to see it down on this news. If you look over the last one year, it's down about 83 84%. Let me know if you got stuck in any of these treasury companies. Uh so many of them were just so highly valued. I remember making warning videos. There were some that were interesting, like if you could do this well, you could buy cash flowing Bitcoin businesses businesses that actually make sense, that are resilient, that'd be awesome. But the fact is a lot of them just are so complicated and uh or just unprofitable that they don't make sense especially when you can just buy like you can either just go buy Bitcoin or you can buy good cash flowing businesses that don't have the Bitcoin markup.

[00:13:18]Let me know your thoughts. Thank you so much. I appreciate I'll see you all soon. Just a reminder, this is not financial advice. This is not legal advice. Do your own research. I'm never going to reach out to you either in the comment section or through any other means to try to get you to invest in something that I'm investing in or to send me crypto. Some links underneath the video are affiliate links. I may earn a commission, but this is at no extra cost to you. Of course, do your own due diligence.