Latest / Simply Bitcoin / This NEW Bill CONFIRMS $500K Bitcoin is Close! | Bitcoin Simply

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This NEW Bill CONFIRMS $500K Bitcoin is Close! | Bitcoin Simply · Simply Bitcoin

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  The Genius Act was just signed, making America the crypto
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  capital of the world. Stable coin has become law.
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  And now today you have another historic legislative achievement
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  that is a monumental step to fulfilling your promise to
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  making the United States the crypto capital of the world.
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  This genius act will unlock American dominance in the crypto
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  industry by creating clear rules of the road.
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  It will update archaic payment rails with a revolutionary new
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  payment system. Everyone keeps talking about how
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  this is going to revolutionize payment, how stable coins are
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  going to provide fast, free, frictionless payment in
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  settlement. That's not the point.
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  The genius act is a signal that the existing financial system is
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  crumbling. In today's episode, I'll show
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  you exactly what's happening, and I'll show you why.
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  You don't need to listen to the talking heads talking about
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  payments. It's about the dollar crumbling.
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  This is Dante Cook with Bitcoin. Simply, let's go.
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  Today marks a Seminole moment for digital assets and global
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  dollar dominance. With President Trump signing the
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  Genius Act into law, this bill provides the fast growing
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  stablecoin market with the regulatory clarity it needs to
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  grow into a trillion dollar industry.
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  Stablecoins represent a revolution in digital finance.
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  The dollar now has an Internet native payment rail that is
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  fast, frictionless, and free of middle men.
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  This groundbreaking technology will buttress the dollar status
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  as a global reserve currency, expand access to the dollar
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  economy for billions across the globe, and lead to a surge in
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  demand for U.S. Treasuries, which backs stable
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  coins. The GENIUS Act is a win, win,
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  win for everyone involved. Stable coin users, stable coin
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  issuers, and the US Treasury Department.
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  The genius act is not about faster cross-border payments in
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  settlements. It's not so that you can buy
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  coffee with your Bitcoin or a burger and steak and shake.
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  It's because the dollar is crumbling.
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  It's about dollar dominance, period.
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  The genius act was because no one wants U.S. debt and the
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  dollar has been collapsing ever since Donald Trump came into
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  office. If you look at bond by decade,
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  well we're on track for the worst decade performance of all
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  time. People are losing faith in the
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  United States system and no one is buying the debt.
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  The dollar is down over 8% since inauguration day. 30 year
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  treasuries hit 5% in the US and 5.5% in the UK.
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  This means in an already slow economy, companies are going to
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  have a harder time borrowing long term capital and mortgages
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  are going to become even more expensive.
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  People don't trust the debt. For all of the people in the
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  back who don't believe me that this is just about payments and
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  faster settlement, I want to play a clip from the US Treasury
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  Department Secretary saying exactly what the USS plan is.
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  How big are you anticipating the stable coin market will get and
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  how does that translate to treasury demand?
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  Yeah, thanks again for having me.
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  You know, it's an enormous victory today and it really sets
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  the stage for us to demonstrate our leadership when it comes to
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  financial innovation. Because what this bill does is
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  it says if we modernize the payment system globally, we now
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  have a digital asset that has rules of the, the road
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  established by Congress for what backs those those digital
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  assets. It provides enormous amounts of
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  confidence to not only Americans, but our trading
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  partners around the world who are then willing to make
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  exchanges to invoice in dollars and then be paid via stable
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  coins because they know that it is a, a, an asset that that has
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  value behind it because what is it that backs it?
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  Primarily it's going to be T-bills.
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  And so if indeed it's the case that this expands even further
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  the portion of international that is invoiced in dollars and
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  then allows for nearly immediate payments.
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  So, you know, think about it right now when a lot of these
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  payments are made, if you wire money abroad, you know, it can
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  be 2448 hours between when that's initiated versus when the
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  money is received. If it's done on a blockchain, on
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  a, on a distributed Ledger blockchain, it, it could be
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  minutes, if not seconds. And so it's going to enormously
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  hasten the time frame for making payments.
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  It's more secure, it's more private, it it's significantly
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  cheaper. And so if indeed this does
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  revolutionize the way that international payments are
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  invoiced and paid, then there should be a flocking to this
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  technology. And if, if all of that trade
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  therefore is even further denominated in stable coins,
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  then there's going to be demand for the underlying assets which
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  are treasury securities and it it we could potentially see on
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  the order of trillions of additional demand if.
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  You heard from Scott Besson and the secretary of his office.
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  Well, I think that those statements hold a lot of weight.
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  Here's the mechanics of how it's going to work.
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  With all of the eyes being on the Fed and the distrust in the
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  government around money printing.
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  Well, they're not going to issue the money themselves.
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  They're going to give the banks the ability to do it for them.
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  They're giving the ability to print T-bills to the banks and
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  you and I, when we post our collateral into a bank from
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  traditional Fiat dollars into a digital currency that's going to
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  be backed by T-bills, while we're effectively creating
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  liquidity in the system, ensuring up short term United
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  States debt. Now, when debt gets on the
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  balance sheets, they're allowed to do a lot more things with
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  that collateral and say we're good for it.
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  Once we have more T-bills, more collateral is going to come into
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  the system. And that's beautiful for
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  Bitcoiners because Bitcoin one is the most highly correlated
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  asset to global money supply, more than gold, more than the
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  S&P 500, more to bonds or any other asset class.
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  It's also an asset class that will perform well even when
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  rates rise. So Bitcoin is actually provided
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  life changing returns in the fastest rate hiking environment
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  in the history of our U.S. economy.
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  Rates go down, Bitcoin performs well, rates go up, liquidity
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  goes up, Bitcoin performs well. It doesn't matter.
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  And in that sense, if you have an asset that performs well in
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  bull market markets, bear markets, high interest rate
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  environments, low interest rate environments, why would you want
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  to sell it? It seems like that would be a
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  stable asset in your portfolio of assets.
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  One of the things that you shouldn't do with your Bitcoin
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  knowing these things is sell it. And one of the ways you're going
• 6:14
  to unlock liquidity in your Bitcoin without selling your
• 6:16
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  backed loans. Since 2018, they've issued over
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  $9 billion worth of loans and counting to 10s of thousands of
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  customers all across the globe. They have the assets that they
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  say they do as being one of the first digital lenders to do a
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  than 24 hours in the process to fill out an application takes
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  just two or three minutes. They have over 1005 star
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  secure your generational wealth the right way by helping you to
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  take self custody and remove move your Bitcoin from third
• 7:02
  party exchanges like Coinbase or others.
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  With the genius act passing, there's going to be more and
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  more reasons for you to want to keep your Bitcoin and your
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  crypto and assets on exchanges so that you can borrow against
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  them and do other things against them on these platforms.
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  But what you're doing when you do that is you're giving up the
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  rights and control to your sovereign asset.
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  Learn how to avoid the rug pull that will come by going to the
• 7:25
  bitcoinway.com/simply Bitcoin and scheduling a free 30 minute
• 7:28
  consultation with their team. You won't regret it with the new
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  genius act passing Bitcoin is the apex predator in this
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  market. The crypto market just surpassed
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  $4 trillion in assets, with Bitcoin making up the majority
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  of those assets. But don't be fooled, the crypto
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  shenanigans are going to come. It's not a matter of if, but
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  when. And here's the clip where I
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  disagree with Michael Saylor. You can never be sure what will
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  happen, but I don't think, well, first of all, I don't think
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  we'll have a bear market like 2022.
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  I think the the only people that say that are the crypto Bros and
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  the crypto Bros are the once the created the bear market of 2022
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  and they did it because they don't understand finance.
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  It's if you lever up yo-yo token 10 or 20 to 1 and in order to
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  create a 10 like $10 billion FTT market cap.
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  And then if you pledge a billion dollars of YO-YO token and and
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  borrow Tether and then you buy JoJo coin.
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  And then if you lever that up 12:50 and then you take that and
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  you buy Bitcoin with it, then at some point YOYO token or JoJo
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  coin collapses and you've got 100 to 1 leverage in the system.
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  And by the way, and if you're silly enough to give someone a
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  billion dollars of loan, a billion dollar loan with $800
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  million of JoJo coin or YOYO token as collateral while you're
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  under collateralized the start, then you've just created this
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  massive 100 to 1 leverage structure.
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  And that's exactly what happened in 2022.
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  With the Genius Act passing and banks having the ability to
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  create or mint money out of thin air just based upon consumer
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  demand for digital assets and digital tokens.
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  And oh and by the way, I believe that they are going to
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  wholeheartedly be in the business of issuing tokens for
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  tokens that were already issued AKA crypto crap.
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  The Genius Act is going to create more and more rug pools
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  when we thought the crypto market was dying and good news
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  for bitcoiners. This is just going to create a
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  bear market or a sudden collapse in price that's going to allow
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  us to buy the best asset and long term asset that we all want
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  in our portfolio at a cheaper price.
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  I'll close with this. I'm an athlete and I love sports
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  everywhere. I'm always looking for signposts
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  as to a system that doesn't work and it is breaking.
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  Example number one, last night during the WNBA All Star game,
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  the women came out wearing a shirt saying pay us what you owe
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  us. Now this is ironic given that
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  the WNBA has never turned a profit and loses between 30 and
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  $50 million a year. Don't fight me, don't at me.
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  I'm a Fever season ticket holder and the WNBA All Star game
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  wasn't Indianapolis where I do in fact live.
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  So I'm pretty happy about the WNBA and what's going on.
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  Nonetheless, it highlights the fact that systems are subsidized
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  and don't turn profits because they don't work.
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  The economics don't work and the bad thing for these women is
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  that the rate of pay AKA Caitlyn Clark getting paid $70,000 a
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  year for her WNBA contract have not risen with the amount of
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  inflation that it cost to live in these major cities where
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  these teams are located. I hope that they're buying
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  Bitcoin. Alicia Gray was the first WNBA
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  player to win the three-point contest and the skills
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  challenge. She won 100K last year and I did
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  some research. If she would have just put that
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  100K into Bitcoin versus the bank where she says that it is,
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  she would have $175,000 or the equivalent of most WNBA players
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  salary for an entire year by just holding and buying Bitcoin.
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  Imagine being JJ Watt making $129 million for being one of
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  the most dominant defensive players in the NFL of all time
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  and your brother little bro says hold my beer or hold my Laura
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  and signs a three-year extension worth the same amount as your
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  entire career. That's inflation in a nutshell
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  and that's what will continue to happen. the US government isn't
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  going to default or enter into austerity where we actually
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  spend less than we take in. They're going to print more
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  money. We cannot grow our way out of
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  this situation. There's no way that our GDP
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  outpaces the amount of debt that we have in the system.
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  So in order to not be debased like Big Brother JJ by your
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  little brother TJ, you need to buy Bitcoin.
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  Instead of just doing what we've always done in a new way with
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  the Genius Act or the Bitcoin and crypto structure Bill, let's
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  do something entirely different. That's buy Bitcoin.
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  One of the ways you can continue to invest into your Bitcoin
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  journey is by going down to conferences and meeting
• 11:48
  Bitcoiners in real life, like the Simply team who's going to
• 11:50
  be down and down from November 11th through November 13th at
• 11:53
  the mining disrupt conference. Get 20% off your ticket by using
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  the promo code simply Bitcoin. I hope that this episode was
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  valuable and I hope that you understand that the genius act
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  and all of the stable coin promises about payments and
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  faster settlements doesn't matter.
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  It's about dollar dominance. Wake up, buy Bitcoin.
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  This is Dante Cook with Bitcoin. Simply happy stacking.