Latest / Simply Bitcoin / Banks Are BENDING THE KNEE to Bitcoin... But There's a Catch | Simply SatoSHE

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Banks Are BENDING THE KNEE to Bitcoin... But There's a Catch | Simply SatoSHE · Simply Bitcoin

• 0:00
  Major Bitcoin Breaking news the US government just gave the
• 0:04
  banks the green light to jump head first into Bitcoin
• 0:08
  transactions. And guess what?
• 0:10
  They're not just dipping a toe, they're all in.
• 0:14
  They're all starting to issue credit against either Bitcoin or
• 0:18
  against Bitcoin derivatives like ibit, and so there's a sea
• 0:22
  change here. Yesterday, the OCC, that's the
• 0:26
  Office of the Comptroller of Currency, released a letter
• 0:29
  confirming that national banks can now act as crypto
• 0:33
  intermediaries. Basically, banks can buy and
• 0:36
  sell Bitcoin for you without even holding it on their books.
• 0:40
  But here's the plot twist. This isn't banks doing you a
• 0:44
  favor. They're bending the knee to
• 0:46
  Bitcoin, and surprisingly, to Michael Saylor.
• 0:50
  But why? Now let's break it down.
• 0:57
  We are doing a limited pilot program that has important
• 1:00
  guardrails that are in place because we've seen with the
• 1:04
  events that have happened on offshore exchanges that it's
• 1:06
  more important than ever that Americans deserve safe U.S.
• 1:10
  markets under US regulations. So what we've done to structure
• 1:14
  this pilot program is that if you are using a CFTC broker,
• 1:18
  which is what are our futures Commission merchants, those are
• 1:21
  registered by us. Those are overseen by US and the
• 1:23
  National Futures Association, which is like FINRA, you will be
• 1:26
  able to use Bitcoin, Ether and USDC to collateralize contracts
• 1:32
  that are denominated in those Bitcoin, Ether or USDC and it's
• 1:38
  basically in kind collateral. So that's very limited in what
• 1:41
  you can do. You can't use it instead of cash
• 1:44
  for example, but you can use it to collateralize those in kind
• 1:47
  contracts. And then we are putting into
• 1:49
  just to. Clarify it's in kind.
• 1:51
  So Bitcoin for Bitcoin? Or could it be Bitcoin for
• 1:54
  Ethereum? Bitcoin for Bitcoin.
• 1:56
  So if you're going to settle in Bitcoin, it's denominated in
• 1:58
  Bitcoin, you can collateralize it with Bitcoin because it's the
• 2:01
  same way risk. And we have enhanced CFTC
• 2:04
  monitoring and reporting in place.
• 2:05
  So for three months we are requiring that we not only get
• 2:09
  weekly position and asset class reporting, that's on top of the
• 2:13
  normal reporting that our exchanges do, but we are also
• 2:17
  asking for a reporting of any significant operational issues
• 2:22
  relating to that digital asset collateral.
• 2:24
  So again, this is a Safeway to understand the technology, to
• 2:28
  understand the uses for these assets, but in a controlled way.
• 2:32
  Here's the exact release from December 9th.
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  Banks can now facilitate crypto trades as riskless principle,
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  meaning they match buyers and sellers instantly, just like a
• 2:42
  broker. No inventory risk for them.
• 2:45
  They do it safely and soundly. But this is massive because
• 2:49
  banks were scared of Bitcoin for years and now the regulators are
• 2:54
  basically saying go for it. Wall Street, the banking, the
• 2:59
  banking establishment and the regulators have all endorsed
• 3:02
  Bitcoin is digital capital. And boom, the same week PNC Bank
• 3:08
  announces they're letting high net worth clients buy actual
• 3:12
  spot Bitcoin directly from their app.
• 3:15
  The integration, which is limited to Bitcoin trading for
• 3:17
  now, allows clients to access Bitcoin directly within PNC's
• 3:20
  digital banking platform, removing the need to open or
• 3:23
  manage separate crypto exchange accounts.
• 3:25
  By the way, this is not ETFs, this is real Bitcoin.
• 3:30
  This is the first major U.S. bank to offer this, but only for
• 3:35
  rich clients who qualify. We'll come back to why that's
• 3:39
  shady in a minute. Michael Saylor, bitcoins biggest
• 3:42
  cheerleader and maybe the smartest man in the world,
• 3:45
  literally called this at the Bitcoin MENA conference in Abu
• 3:49
  Dhabi. All.
• 3:50
  Of the large banks in the United States have gone from not
• 3:53
  banking Bitcoin 12 months ago to in the past six months.
• 3:59
  I have I have noted and been approached by BNY Mellon, by
• 4:04
  Wells Fargo, by Bank of America, by Charles Schwab, by JP Morgan,
• 4:11
  by City. They are all starting to issue
• 4:14
  credit against either Bitcoin or against Bitcoin derivatives like
• 4:18
  I bet. He listed six of the top ten
• 4:21
  U.S. banks now issuing credit against Bitcoin a year ago. 0
• 4:26
  Why the sudden 180? Why now?
• 4:29
  But why? Simple.
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  They finally see the opportunity to make bank, pun intended, off
• 4:39
  of you. Bitcoin has emerged as the
• 4:41
  digital capital base of the entire crypto economy.
• 4:45
  It's emerging as the digital capital base of the world.
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  What's the killer application for a Bitcoin treasury company?
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  It's to issue digital credit by decision.
• 4:57
  Instead of issuing credit on gold, which is how the world ran
• 5:00
  for 300 years, now we're going to issue credit on digital
• 5:04
  capital. Digital credit on digital
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  capital. That's that's one branch of this
• 5:10
  industry. How big is it?
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  Hundreds of trillions of dollars.
• 5:14
  Big, very big. What does it compete with?
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  Real estate, art, gold, private equity, public equity, bonds
• 5:23
  held as a store of value. All wealth, right?
• 5:26
  That is, that is a branch, and that is going to grow.
• 5:29
  Banks aren't holding Bitcoin for fun.
• 5:31
  Bitcoin naturally produces immediate yield through
• 5:34
  appreciation. Saylor calls it digital credit
• 5:38
  and his strategy, strategy, if you will, is converting long
• 5:42
  term capital into immediate cash flow.
• 5:45
  All digital credit is better than all conventional credit.
• 5:48
  Why? Because the collateral is
• 5:50
  appreciating and it's digital. And conventional credit is built
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  on depreciating, collapsing collateral, whether it's a data
• 5:59
  center or a product or a warehouse.
• 6:03
  And it's all indexed to the risk free rate, which is repressed by
• 6:10
  most central bankers. Not only do banks benefit from
• 6:13
  bitcoins built in yield when they hold or lend against it,
• 6:17
  but they found a gold mine selling you repackaged Bitcoin
• 6:21
  through ETFs, custody or wrapped products.
• 6:25
  They charge fees, take spreads and profit while you get paper
• 6:30
  Bitcoin. Now let's talk about PNC's
• 6:32
  announcement. It's the perfect example of what
• 6:34
  I'm talking about here. They're giving qualified AKA
• 6:38
  rich clients access to Bitcoin ETFs on spot trading, but inside
• 6:44
  their platform it's literally just an exchange but rebranded.
• 6:49
  Meanwhile, and this is just a little secret in case you didn't
• 6:53
  know, anyone can buy Bitcoin, real Bitcoin right now on an
• 6:59
  exchange and withdraw to self custody.
• 7:02
  No intermediary necessary. They're taking advantage of your
• 7:06
  laziness and you don't want to learn how to use a wallet.
• 7:09
  Cool. Pay them fees forever and never
• 7:12
  truly own your keys. Your true superpower is a
• 7:15
  bitcoiner lies in yourself sovereignty.
• 7:18
  Why should any third party control your money?
• 7:21
  And why should any third party control your data?
• 7:23
  This is my data broker report. 11 pages 11.
• 7:29
  They know every old address I've lived at, phone numbers, family
• 7:32
  members, even what kind of car I drive.
• 7:35
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• 7:37
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• 7:41
  stalkers can just buy your personal info and it's totally
• 7:45
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• 7:47
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• 7:51
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• 7:53
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• 8:13
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• 8:17
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• 8:21
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• 8:24
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• 8:27
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• 8:31
  All right, Aura protects you. But now let's talk about
• 8:35
  protecting your Bitcoin future because stacking stats gets a
• 8:38
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• 8:41
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• 8:44
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• 9:32
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• 9:35
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• 9:42
  Thanks in the world to embrace crypto, To embrace Bitcoin in 4
• 9:47
  to 8 years would be fast. What you see here is it's
• 9:50
  happening much faster. What we've what we've seen is
• 9:56
  BNY Mellon, PNC Bank, Citibank, JP Morgan, Wells Fargo, Bank of
• 10:03
  America, Vanguard, all of these have flipped from a hostile,
• 10:09
  negative or skeptical view to a positive view in the last 12
• 10:12
  months, right? We have announcements Schwab is
• 10:17
  going to custody Bitcoin and extend credit against crypto
• 10:21
  assets early next year. Citi is doing the same thing.
• 10:27
  It used to be, you know, I couldn't get a loan against
• 10:31
  Bitcoin from any major bank. And now if I counted the top ten
• 10:36
  banks in the United States, eight of them, eight of them
• 10:40
  are, are, are actually engaged in crypto lending and they've
• 10:46
  all flipped their stance in the last six months.
• 10:48
  We all know Gandhi's famous quote, which was actually not
• 10:52
  Gandhi's quote. It's by Nicholas Klein.
• 10:54
  But first they ignore you, then they laugh at you, then they
• 10:59
  fight you, and then you win. We're actually entering the then
• 11:02
  you win phase, but only if you act.
• 11:05
  We have to resist their psychological games.
• 11:08
  It's too complicated only for rich people.
• 11:12
  I can't even afford a full Bitcoin.
• 11:14
  You don't have to let us handle it for you.
• 11:17
  Those foolish games are tearing us apart.
• 11:20
  When people ask what's the most powerful thing you can do, it's
• 11:24
  owning Bitcoin and self of custody.
• 11:26
  PNC says qualified clients only. But again, you can just buy real
• 11:32
  sats today, no permission needed.
• 11:35
  I honestly can't even believe that that needs to be said, but
• 11:38
  here we are. Withdraw from the exchanges to a
• 11:42
  hardware wallet. Maybe a big key and when you do
• 11:47
  you'd be freer than any bank client.
• 11:49
  If you're new, start small, maybe download a hot wallet.
• 11:53
  Try to buy on non KYC exchanges if possible.
• 11:57
  But whatever you do, get comfortable taking custody of
• 12:00
  your Sats and your future. Get yourself a Bitcoin wallet.
• 12:04
  Learn how to self custody. Write down and protect the seat
• 12:07
  phrase and all the other moving parts making up that wallet.
• 12:12
  Move a small portion of your savings into Bitcoin to start.
• 12:16
  Do not leave it on an exchange. Do not engage a third party
• 12:20
  institution thinking they can protect it for you.
• 12:23
  Take it off and secure it 100% yourself.
• 12:27
  And of course stay informed. Be on top of the news.
• 12:31
  Ignore the noise. Look, this isn't fear mongering.
• 12:35
  This is simply preparation. If you think it could never
• 12:39
  happen here, that's what people always say right before it does.
• 12:43
  And here's the plain truth, nice and simple.
• 12:45
  A financial crisis can lock you out of your bank account.
• 12:49
  You will be told it's temporary. You will be told to trust the
• 12:52
  system. Don't trust yourself, diversify,
• 12:57
  keep cash and own Bitcoin in self custody.
• 13:00
  Because when the system freezes, the ones who planned ahead will
• 13:04
  be the only one still moving. And when everyone else is
• 13:08
  waiting for permission to touch their money again, you'll
• 13:11
  already have yours. That's real freedom.
• 13:14
  That's real wealth. And that's why this matters.
• 13:17
  Before we wrap up the show, let's bring it home with a
• 13:20
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• 13:22
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• 13:26
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• 14:04
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• 14:10
  Now let's wrap this up. This OCC letter and PNC's moves
• 14:15
  are just one more of the Domino's falling and this year
• 14:19
  has shown us the historic 4 year cycles might be over.
• 14:22
  We could be on the verge of an extended bull run where the
• 14:25
  price of Bitcoin, well, yes, volatile goes up forever.
• 14:30
  Laura going. Up forever, Laura.
• 14:31
  Forever. Bitcoin to 200K in 2026 with
• 14:38
  this scenario seems like a no brainer.
• 14:41
  So let's see what do you think? Are banks becoming benevolent to
• 14:45
  Bitcoin on ramp providers or are they the same old opportunistic
• 14:50
  blood suckers just profiting off of the peaceful revolution?
• 14:53
  Drop a comment and let me know if you enjoyed this video.
• 14:56
  Smash the like button, hit the subscribe and turn on the
• 14:59
  notifications for the most fire Bitcoin only news in the space.
• 15:05
  I'll see you in the next 1 so remember to stack.
• 15:07
  Slay and stay bullish baby.