Latest / Simply Bitcoin / Why I’m NOT Buying Bitcoin at $70K (Jamie Dimon's GRAVE Warning) | Bitcoin Simply

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Why I’m NOT Buying Bitcoin at $70K (Jamie Dimon's GRAVE Warning) | Bitcoin Simply · Simply Bitcoin

• 0:00
  Bitcoin ripped yesterday. Why rumors.
• 0:03
  A White House reporter floated that the market structure bill
• 0:06
  was close. That was enough Bitcoin jumped
• 0:09
  to 70 K immediately the speculation front ran the
• 0:12
  legislation and right on cue, Tom Lee popped up on CNBC saying
• 0:16
  that the Bitcoin bottom is in in March and we're up in April.
• 0:20
  Let's face it at this point, Tom Lee's predictions are as useless
• 0:23
  as one ply toilet paper on diarrhea.
• 0:25
  But we've seen it before. A headline, a prediction, a
• 0:28
  bounce in price. The bottom is in.
• 0:30
  But here's the problem. A rumor isn't liquidity in hope
• 0:34
  of legislation is not a catalyst.
• 0:36
  Yes, Vanek's CEO says Bitcoin is showing signs of life.
• 0:39
  But while crypto Twitter was celebrating A rumor, Jamie Dimon
• 0:42
  just did an interview to tell you exactly where we are.
• 0:45
  Banks are telling you they're not ready for a war with Bitcoin
• 0:48
  while there's a current war raging in Iran that's getting
• 0:51
  worse by the hour. In this episode, we're going to
• 0:53
  break it down clearly. Why a Bitcoin rally in April is
• 0:56
  premature. Why Jamie Dimon just told you
• 0:58
  exactly why. The structure market bill won't
• 1:01
  get passed anytime soon, and despite all this negative news,
• 1:04
  I'm going to tell you the 1 signal that could change my mind
• 1:06
  because if Bitcoin is about to run, I want to be ready.
• 1:09
  But if it's about to go sideways for months, I want you to be
• 1:12
  positioned for that too. This is down to cook with
• 1:14
  Bitcoin. Simply let's go.
• 1:20
  All had early weakness. They're all probably.
• 1:23
  In the final. Stages or of already bottomed
• 1:27
  and I think. That helps.
• 1:28
  Lead us up to an up April, have you woken up?
• 1:30
  In the middle of the night and looked at where Ethereum is and
• 1:33
  said I. I can't go back to sleep.
• 1:35
  Love the troll from Joe that was super clean, but Tom Lee calling
• 1:39
  this the bottom, that feels early.
• 1:41
  I'm happy to be wrong. I want to be wrong, but there's
• 1:44
  nothing in this macro environment that screams April
• 1:47
  breakout right now. The bullish case hinges on one
• 1:49
  thing. Hope.
• 1:50
  Hope the market structure bill passes.
• 1:52
  Hopes that the banks will make concessions.
• 1:54
  Hopes that the banks will come to the table.
• 1:57
  So the latest is it's passed out of the Senate AG Committee.
• 1:59
  The portion dealing with CFTC, we are actively working to get
• 2:02
  it back on the books for a markup in the Senate Banking
• 2:04
  Committee. The main issue that's been the
• 2:06
  sticking point is the stable coin rewards and yield coming
• 2:09
  back up in the context of the digital asset service providers,
• 2:12
  the intermediaries potentially being able to offer rewards and
• 2:15
  yield on stable coins to their customers.
• 2:18
  We at the White House have convened a number of meetings
• 2:20
  over the past month to try and solve this issue and broker A
• 2:23
  compromise here. Crypto to their credit has made
• 2:26
  considerable strides in in coming to a compromise position.
• 2:29
  It's time for the banks to reciprocate and and ultimately
• 2:32
  strike a deal on this because this is the issue that we
• 2:34
  believe is the domino that will fall and then ultimately
• 2:37
  everything will fall into place after that.
• 2:39
  Is good and well, but let me give you a reality check.
• 2:42
  The banks are not lining up to empower stable coins.
• 2:45
  Stable coins threaten their most profitable layer deposit
• 2:48
  settlements and payments. That's the core of their
• 2:51
  business. And while everybody is debating
• 2:53
  legislation right now, we're in the middle of a geopolitical
• 2:56
  escalation. The 10 year just had its largest
• 2:59
  one day move since April of last year.
• 3:01
  Oil is volatile, risk is elevated right now, the futures
• 3:04
  are all over the place and liquidity is cautious.
• 3:07
  So if you're running a global bank in this environment, would
• 3:10
  you want to introduce more systemic change?
• 3:12
  You don't want to add instability to an already
• 3:15
  unstable system. You want to add more control.
• 3:17
  And Jamie Dimon confirmed this yesterday, not with drama, but
• 3:21
  with his tone. And the tone matters.
• 3:24
  You and your peers have reportedly clashed with
• 3:26
  Coinbase's Brian Armstrong over the Clarity Act and specifically
• 3:30
  this idea of crypto exchanges offering rewards for stable
• 3:34
  coins. And Armstrong was on CNBC with
• 3:36
  Sarah Eisen a few weeks ago from Mar a Lago, and he said there's
• 3:39
  a path forward for the market structure.
• 3:40
  Bill, that's a quote, win, win outcome for everyone.
• 3:43
  How are you feeling about it right now?
• 3:45
  Yeah. So the the banks feel strongly
• 3:48
  that there should be rewards of the same as interest and that,
• 3:52
  you know, compromise would be that you could pay rewards on
• 3:54
  transactions, not balances. If you are going to be holding
• 3:58
  balances and paying interest, that's the bank.
• 4:00
  You should be regulated by a bank.
• 4:01
  So we've been firm one thing over here, yes, but if you want
• 4:05
  to be a bank, become a bank, then you can do whatever you
• 4:07
  want under bank law. So I remind people, your viewers
• 4:10
  may not know banks have restrictions and requires FDIC
• 4:14
  insurance, AML, BSA. We have Community Responsibility
• 4:17
  Act, which means we have to open 25% of breads in LMI neighbors.
• 4:21
  We have social requirements, we have liquidity requirements,
• 4:23
  capital requirements, transparency requirements,
• 4:24
  reporting requirements, board requirements, government
• 4:26
  requirements. If they want to be a bank, so be
• 4:28
  it. So what we base is level playing
• 4:30
  field by product. It can't be you have these
• 4:32
  people doing one thing, you know, without any regulation
• 4:35
  like that, and these people do another.
• 4:36
  And if you do do that, the public will pay it will it will
• 4:40
  get bad. So I just people should take a
• 4:42
  deep breath at what is you want to the and we want competition.
• 4:45
  You know, we're actually one of the biggest users of blockchain
• 4:48
  and you know, and you know, we've created AJP Morgan deposit
• 4:50
  coin. We've moved money, real time
• 4:52
  payments. You know, we're moving a lot of
• 4:54
  data now using blockchain. So we're in favor of
• 4:57
  competition, but it's got to be fair and balanced, level playing
• 5:00
  field. It can't be completely skewed.
• 5:02
  And the rest. For the safety of the system,
• 5:05
  not just the fairness of competition.
• 5:07
  Right, to your point about FDIC insurance.
• 5:08
  Well, AML, what about, you know, they?
• 5:10
  We have money laundering. I say we have money laundering
• 5:14
  requirements for pointing requirements, you know, which I
• 5:18
  think is good, you know, to some extent is good because you want
• 5:20
  a safe financial system as best you can make it.
• 5:23
  If you appreciate this kind of signal over the noise, then do
• 5:26
  subscribe. We're not here for opium.
• 5:28
  We're here to understand what actually moves Bitcoin.
• 5:30
  Let's get back to the show now. Listen to what Jamie Dimon said.
• 5:33
  If you want the same privileges as banks, well, become a bank.
• 5:36
  Sounds simple. Bitcoiners tried it.
• 5:38
  Caitlyn Long did exactly that. She launched Custodia Bank fully
• 5:42
  chartered in Wyoming as a special purpose depository
• 5:45
  institution, 100% reserves, no re hypothecation.
• 5:49
  The system at Custodia bank was designed to bridge crypto and
• 5:52
  Bitcoin in the traditional banking system and they applied
• 5:55
  for a Federal Reserve master account at the end of 2022, the
• 5:59
  same access system that traditional banks rely on for
• 6:01
  settlement. And in 2023 the Federal Reserve
• 6:04
  denied it flat out. So when Jamie Dimon says just
• 6:06
  start a bank, they did and the system said no.
• 6:09
  This tells you something about Bitcoin and why the banks fear
• 6:12
  it. This isn't about equal access or
• 6:14
  better payments or a better system for you the consumer.
• 6:16
  This is about control. As recently as October of 2025,
• 6:20
  Custodia was still fighting for their rights to become a bank.
• 6:23
  They were basically denied again by the Kansas City Federal
• 6:26
  Reserve Bank and the 10th Circuit Judge.
• 6:28
  Stable coins threaten deposits and Bitcoin threatens their
• 6:31
  monopoly. You don't introduce something
• 6:33
  that cannibalizes that, especially during a geopolitical
• 6:36
  crisis and what we're seeing coming out in private credit
• 6:38
  markets to which no one's really talking about.
• 6:41
  So when I hear the banks are going to come to the table, why
• 6:44
  would they? The incentives don't line up,
• 6:46
  and until they do, legislate will not ignite A sustained
• 6:49
  rally, especially a rumor of legislation. the Fed and the
• 6:52
  regional banks are autonomous entities that are not elected
• 6:56
  and that we don't have any control over their private
• 6:58
  corporations. And here's why they won't allow
• 7:01
  other banks in. One of the things that that
• 7:03
  folks have said for years about the Fed is that it has an
• 7:07
  unusual structure, which it does.
• 7:10
  The federal agency is the Board of Governors in Washington, DC,
• 7:14
  and then there are 12 private corporations the the regional
• 7:17
  Reserve Banks. And so it's a hybrid from that
• 7:21
  perspective. But the federal that there's no
• 7:25
  question that the that the agency in Washington, DC is a
• 7:30
  federal agency subject to the Freedom of Information Act,
• 7:33
  subject to the Administrative Procedure Act, all of those acts
• 7:36
  that apply to federal agencies. The Reserve banks are private
• 7:42
  corporations and their boards are controlled by the banking
• 7:45
  industry. And if the presidents of Reserve
• 7:49
  Banks are doing official U.S. government business, the
• 7:52
  question is have they been properly appointed under the US
• 7:56
  Constitution's Appointments Clause, which requires that the
• 8:00
  president nominate and Senate confirm the principal officers
• 8:05
  of the United States? And that there has to be when
• 8:09
  administrative decisions are made, when when U.S. government
• 8:11
  decisions are made, there has to be a Nexus to a presidentially
• 8:15
  appointed Senate confirmed officer.
• 8:18
  But there is not that Nexus in the case of the Federal Reserve
• 8:22
  Banks. The 12 privately owned their
• 8:24
  boards are controlled by the banking by the private sector.
• 8:27
  One of the ways that you can become your own bank and not
• 8:30
  rely on the Federal Reserve Banks is by using a company like
• 8:34
  Lenin that will allow you to borrow against the Bitcoin that
• 8:36
  you've been stacking over the course of the year since you
• 8:38
  subscribed to this channel and you know where the real value
• 8:41
  lies. Lenin will allow you to borrow
• 8:43
  up to 50% loan to value against your Bitcoin with no credit
• 8:46
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• 8:50
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• 8:53
  minutes and it's either you have the Bitcoin or you don't post a
• 8:56
  Bitcoin is collateral and your Bitcoin isn't rehypothecated.
• 9:00
  You can see it on an address directly in the platform.
• 9:02
  Go to learn dot LED and dot AO slash simply to get started.
• 9:05
  Back to Caitlin Long for a second.
• 9:07
  There is corruption all throughout Washington and Wall
• 9:10
  Street. The question isn't whether there
• 9:11
  is corruption. The question is where is it
• 9:14
  worse? Listen to Caitlin Clark talking
• 9:16
  about the levels of corruption running through the system I
• 9:18
  used. To think Wall Street was was the
• 9:20
  unethical 1. I actually think Washington DC
• 9:24
  is more so some of the most, literally the most unethical
• 9:27
  people I've come across with come across have been on this
• 9:31
  recent journey with having been an applicant at the Federal
• 9:34
  Reserve. And the more I learned about
• 9:35
  what happened, and again, it's not the people on the ground,
• 9:37
  it's the people in the higher up space, the more I learned about
• 9:41
  what happened, the more I realized rules for thee and not
• 9:44
  for me. We, we submitted a, a, a
• 9:48
  Inspector General complaint. And we know that that went into
• 9:52
  the circular file. And there's a problem because
• 9:54
  when the Inspector General, which is kind of like an
• 9:56
  internal audit function for these agencies, when the
• 9:59
  Inspector General reports to the people they're supposed to be
• 10:02
  investigating, what do you think happens?
• 10:05
  It's like. Investigate yourself please.
• 10:08
  It's a screwed up system. It's a, it's a screwed up
• 10:10
  corrupt small C corrupt system, Yeah, and it needs to be fixed.
• 10:13
  But as we're just talking about. One of the.
• 10:16
  Easiest ways to protect yourself and and help yourself opt opt
• 10:21
  out is to own is to be a first rate first class Bitcoin
• 10:24
  citizen. Own actual on chain Bitcoin that
• 10:28
  you self custody and run a full node so you do not have to trust
• 10:31
  anyone else. And you can you can confirm that
• 10:34
  you own your assets and when you transact with them that they are
• 10:38
  you're transacting with real on chain base layer Bitcoin and
• 10:42
  you're not even relying on somebody's block explorer to
• 10:45
  confirm that your transaction went through so that you don't
• 10:48
  get man in the middle attacked. That's what you do to to opt out
• 10:53
  of. The only real opportunity to
• 10:55
  avoid the corruption in the system, as she says, is to run
• 10:57
  your own node. And you can do that by working
• 11:00
  with one of our team and our partners at the Bitcoin Way.
• 11:02
  They'll teach you how to run your own node privately, safely
• 11:05
  and securely so that you can become your own bank, just like
• 11:07
  what Caitlin Long and Custodia Bank was trying to do.
• 11:10
  Schedule a free 30 minute consultation with their team at
• 11:13
  the bitcoinway.com/dante. Despite the hype from this one
• 11:16
  day move, I do think that we're actually forming a bottom.
• 11:19
  The rally did show something we we didn't see panic liquidation
• 11:22
  like we've seen earlier this year.
• 11:24
  The weak hands are sort of out of the system.
• 11:26
  Our view coming into 26 is that Bitcoin is governed by the two
• 11:30
  things you know about Bitcoin, limited supply at 21 million,
• 11:33
  and the happening cycle where the Bitcoin miners who run the
• 11:36
  network get paid half the number of Bitcoin every four years.
• 11:39
  There's been an investing cycle. Bitcoin goes up three years in a
• 11:42
  row, goes down pretty massively in that fourth year. 2026 is
• 11:47
  that fourth year. So that's why we're in a crypto
• 11:49
  bear, Bitcoin bear market. Excuse me.
• 11:51
  So I I don't think we can overcome.
• 11:54
  I think we can over complicate it now.
• 11:56
  I think we're making a bottom and this is a very nice sign of
• 11:59
  life. So yeah.
• 12:01
  The selling pressure looks tired, and that does matter.
• 12:04
  But here's why I don't think that we rally.
• 12:06
  Let me give you one point in case.
• 12:08
  Since this war in Iran started, gas prices in the UK have risen
• 12:11
  93%. So what does that mean?
• 12:13
  A drag on the economy and a drag on the consumer.
• 12:16
  This is just in the UK, but this ripple will go throughout the
• 12:18
  world. We need oil.
• 12:20
  We need raw commodities, and right now LNG is in hard supply.
• 12:24
  Right now, oil is in tight supply.
• 12:26
  Rates react when this happens and risk appetites shrink.
• 12:29
  That's not the environment where more capital flows into a
• 12:32
  market. Bitcoin's true vertical phase
• 12:34
  doesn't happen when a bill passes.
• 12:36
  It happens when trust breaks in the system.
• 12:38
  When people completely stop trusting institutions, when they
• 12:41
  stop trusting banks, when they stop trusting political
• 12:43
  leadership, that's when they opt into something else that isn't a
• 12:46
  trade. That's an exit.
• 12:48
  That's when people choose the digital nation they align with.
• 12:50
  And not the passport that they were handed when they were born.
• 12:53
  Western civilization's over America's over Western Europe,
• 12:57
  as we note, is over, but the Internet is just beginning.
• 13:00
  If tax revenue is a few trillion a year, but compounding debt is
• 13:03
  at 175 trillion a year, obviously it's unsustainable.
• 13:06
  It's going to go to 0. But it's taking the L, then
• 13:08
  admitting this and and. Allowing the.
• 13:11
  Separation to happen. Taking the L is admitting that
• 13:15
  that you you can't throw good money after bad.
• 13:18
  You can't also throw your spiritual energy behind a lost
• 13:21
  cause. Instead, when you write it off
• 13:24
  and write it to 0, the West is going to 0, America's going to 0
• 13:27
  as we know it, right? Then you say, what can we
• 13:30
  rebuild? Much more important than
• 13:32
  allocation is location. Choose your location.
• 13:35
  Just like the Pole came to the UK, maybe the Brit goes to
• 13:39
  Poland or to Dubai, which a lot have done.
• 13:42
  One of the best things you can do is liquidate, emigrate,
• 13:44
  accelerate and reduce your cost structure.
• 13:46
  AI isn't taking your job. AI is turning you into the CEO.
• 13:49
  When trust collapses, ideology replaces geography.
• 13:52
  I do agree with biology on this point.
• 13:54
  And that's when Bitcoin stops grinding.
• 13:56
  It reprices instantly. We are not there yet, but when
• 13:59
  the move comes, Bitcoin is not going to ask for your permission
• 14:02
  or whether you're on board the train.
• 14:04
  And that's why we try to give you so many ways to be involved
• 14:06
  in Bitcoin. Because the question is not
• 14:08
  whether you're watching this channel or whether you subscribe
• 14:11
  to the channel, but whether you're participating in the
• 14:13
  network. And we try to give you multiple
• 14:15
  ways to do that, becoming sovereign, becoming your own
• 14:17
  bank, and also stacking Bitcoin while you sleep through a
• 14:20
  partner like SAS Mining. Their team will help you pick
• 14:22
  the mining machine, do the repairs, keep it up, do it all
• 14:25
  with clean and 100% renewable energy.
• 14:28
  And all you have to do is post a wallet address, which they will
• 14:30
  send SAS to on a regular basis without you doing a single
• 14:33
  thing. Get involved in mining, but
• 14:35
  don't do it yourself. Outsource it to the
• 14:37
  professionals at SAS Mining. Use the QR code to get started.
• 14:40
  This is not to cook with Bitcoin.
• 14:41
  Simply the rally's not here. But that doesn't mean that you
• 14:44
  should stop sacking. Happy stacking.