Latest / Simply Bitcoin / Uptober Is HERE | Will Trump's Stimmy Checks Send Bitcoin to $1,000,000?! | Bitcoin Simply

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Uptober Is HERE | Will Trump's Stimmy Checks Send Bitcoin to $1,000,000?! | Bitcoin Simply · Simply Bitcoin

• 0:00
  With Bitcoin blasting through 120 K like Cam Scatterbo running
• 0:03
  through somebody's skull, even Bloomberg can't deny that
• 0:06
  October is here and it's all gas and no brakes.
• 0:09
  It's. A quick check on crypto prices
• 0:12
  as we begin the so-called month of October, October with strong
• 0:17
  gains creators the batting of a rebound after one of the
• 0:20
  harshest sell offs in months. Cryptocurrencies shed roughly
• 0:24
  $300 billion last week as a wave of leverage.
• 0:27
  And here's the kicker. President Trump is considering
• 0:29
  stimulus checks or taxpayer rebates of 1000 to $2000 for
• 0:34
  every American household based on the tariff revenue that
• 0:37
  they've collected. We're not highly levered
• 0:39
  anymore. Now with that being said, we'll
• 0:41
  pay back debt, but we all we also might make a distribution
• 0:45
  to the people almost like a dividend to the people of
• 0:47
  America. How?
• 0:48
  Much are you thinking for? That, Sir.
• 0:50
  Well, we're thinking maybe 1000 to $2000.
• 0:53
  The last time we got STEMI checks in the mail in 2020,
• 0:56
  Bitcoin rose from 6K to 58K over the next year, and that $1200
• 1:02
  stimulus check is now worth over $21,000.
• 1:06
  Now imagine if October plays out the way that it always does
• 1:09
  based on historical prices. Statistically speaking, based on
• 1:12
  previous October's, Bitcoin is going to go from 120K to 138 K
• 1:16
  before for Halloween. That's not that crazy, $4
• 1:19
  trillion Asset manager JP Morgan says that Bitcoin should be
• 1:22
  valued AT165K relative to where gold is valued.
• 1:26
  October is when Bitcoin reminds the world that it's inevitable.
• 1:28
  Strap in stimulus checks. October means that the bull run
• 1:32
  might just be around the corner. This is Dante Coco Bitcoin.
• 1:35
  Simply, let's go. Donald Trump is proposing 1000
• 1:42
  to $2000 stimulus checks or taxpayer rebates for every
• 1:46
  American household based upon the revenue that they've
• 1:48
  collected from tariffs. And let's rewind the clock in
• 1:51
  March of 2020, when the first stimulus check started to come
• 1:54
  out into the economy. Well, bitcoins price was $6500 a
• 1:58
  coin. By December that year it was
• 2:00
  $23,000 a coin. By March the following year it
• 2:03
  was $58,000 a coin. That's not mailbox money.
• 2:06
  That STEMI check is generational wealth.
• 2:09
  And this is the part that people don't get every stimulus check
• 2:11
  every time that there's a bailout, every time that there's
• 2:13
  a Fed rate cut, every time that money is injected into the
• 2:16
  system. Here's an opportunity for those
• 2:18
  who hold real world assets to grow their asset value.
• 2:21
  There's more money going after scarce assets.
• 2:24
  And this is what the market is pricing.
• 2:26
  In October, Bitcoin started the month at around 111 K and
• 2:29
  blasted through the 100 and 10s. Like Cam Scatabo running through
• 2:33
  anyone in everyone's face for his squad, Donovan Wilson is
• 2:37
  unblocked in the hole. Just runs like Bobby Boucher
• 2:42
  blocking for Derek Wallace and waterboy like Jackson Dart.
• 2:54
  Bitcoin has no conscious in October literally looking to
• 2:57
  smack every red candle in the face just for looking at it the
• 3:00
  wrong way. Yeah, maybe that's not the
• 3:04
  smartest. With my throwing hand.
• 3:08
  You know, I didn't really like the way it was looking at.
• 3:09
  Me. So since 2013, Bitcoin has
• 3:13
  averaged 20% gains in October and every time that it's green
• 3:17
  in September, well, it's been up in October.
• 3:20
  That's not opium, that's not vibes.
• 3:22
  That's a statistically relevant correlation.
• 3:25
  So yeah, if it were to go up by 20%, we would see 138 K Bitcoin
• 3:29
  this month. But what happens when the real
• 3:30
  bid comes with Fed rate cuts, with STEMI checks, with central
• 3:34
  banks buying? I mean, we literally have 4
• 3:37
  point $3 billion of leverage against Bitcoin expiring today.
• 3:41
  We could see fireworks before even the end of the weekend.
• 3:44
  And while this is all been going on, Uncle Ray Ray has been
• 3:47
  yawning. Yeah, a lot of people believe in
• 3:49
  Bitcoin, but he still doesn't believe in it.
• 3:50
  He thinks the central banks won't be buying Bitcoin because
• 3:53
  there's no privacy and it could be hacked or manipulated.
• 3:57
  Is Bitcoin a legitimate currency to hold in that in that
• 4:01
  environment? That's a an interesting and not
• 4:06
  easily answered question. There's a medium of exchange and
• 4:12
  a store hold of wealth and most importantly this store hold of
• 4:15
  wealth. So Bitcoin is perceived by many
• 4:22
  as a money. It is limited in its supply and
• 4:28
  it has certain transaction benefits very easily all around
• 4:34
  the world. You can transact and in it.
• 4:36
  And so it has those elements. I doubt that any central bank
• 4:41
  will take it on as a reserve currency for because everybody
• 4:47
  can understand and watch government scan who was doing
• 4:51
  what transactions on it, government scan.
• 4:53
  So there's no privacy to it and there is a question of whether
• 4:58
  the code could be broken or things can be done to make it,
• 5:04
  let's say, less effective, including, you know, government
• 5:09
  controls of it. So I can't say exactly how
• 5:13
  effective it is as a money, but it's being perceived by many as
• 5:20
  an alternative money. My own approach is I in my share
• 5:25
  of My Portfolio. I have gold and I have some
• 5:31
  Bitcoin, but not much. His portfolio, a lot of gold, a
• 5:34
  little bit of Bitcoin. And Michael Saylor disagrees
• 5:37
  fundamentally with Ray Dalio saying that we've gone through
• 5:40
  this in the past. If things were still the same,
• 5:42
  then gold would still be the dominant form of currency in
• 5:45
  backing in the world. But it isn't, and he believes
• 5:47
  that Bitcoin will succeed where gold fails.
• 5:49
  The reason that you will be able to trust them, it's because you
• 5:54
  have the option to withdraw your trust, I said.
• 5:58
  So I look at it as as the great deterrent.
• 6:00
  If you know, if you think about gold and why gold failed, one
• 6:06
  reason gold failed is it's so incredibly difficult to custody.
• 6:12
  And so if you look at in the history of gold in the 20s, you
• 6:16
  had four great central bankers and the central banker in
• 6:19
  Germany was shocked and a central banker in the US with
• 6:23
  Ben Strong. And the world, you know, was
• 6:26
  substantially on a gold standard.
• 6:28
  And the Germans had gold and the French had gold and the British
• 6:33
  had gold, the Americans had gold.
• 6:35
  But for the most part, the gold was either in London or in New
• 6:38
  York. You know, the French gold was
• 6:40
  with the British or the Americans or the German gold was
• 6:42
  with the American. So there's a famous story where
• 6:45
  we're shocked travelled to New York City, met with the head of
• 6:49
  the Fed, Ben Strong. And Ben Strong wanted to show
• 6:51
  him the German gold took him down into the basement of the
• 6:55
  New York Fed and they couldn't find the gold.
• 6:59
  And and of course, the message of the story is this gold is so
• 7:05
  difficult to custody. Countries couldn't figure out
• 7:09
  how to, like the entire country of Germany couldn't figure out
• 7:13
  how to custody their own gold, much less the 100,000 companies
• 7:17
  in Germany or the 60 million people in Germany.
• 7:20
  And so the reason gold failed was it was too slow and too
• 7:23
  difficult to custody, and therefore your property rights
• 7:27
  were always going to be impaired by a central actor.
• 7:31
  He's been on this train since 2020, when his company Micro
• 7:34
  Strategy bought their first $250 million in Bitcoin.
• 7:38
  And lo and behold, his digital gold thesis since then has been
• 7:41
  pretty good considering that they now own $77 billion worth
• 7:44
  of Bitcoin on their balance sheet.
• 7:45
  And he's not just looking for billions.
• 7:47
  And his next goal? A trillion dollars in Bitcoin
• 7:50
  assets. The end game is get to a
• 7:51
  trillion dollars of collateral growing 30% a year, be issuing
• 7:57
  $100 billion of credit a year, growing 2030% a year and that
• 8:05
  credit is yielding 23400 basis points more then all of the real
• 8:14
  estate back credit, the corporate back credit, the Fiat
• 8:17
  back credit or any other type of credit instrument in the world.
• 8:21
  Back to the whole gold and Bitcoin thing.
• 8:23
  Gold failed, Bitcoin won't, and $4 trillion asset manager JP
• 8:27
  Morgan believes that Bitcoin is undervalued relative to gold,
• 8:31
  saying that based upon their volatility ratios and how they
• 8:34
  correlate together with bitcoins implied volatility to Bitcoin.
• 8:37
  It says that at a $2.3 trillion market cap, it should rise
• 8:41
  another 40, 2% to match gold's volatility in value, giving it a
• 8:45
  theoretical price of 165 K. Bitcoin firms like Vanguard who
• 8:49
  have historically been very negative on Bitcoin, well, even
• 8:53
  now they're considering getting in the game as they see other
• 8:55
  major asset managers in Wall Street firms cashing in on the
• 8:59
  promise of offering Bitcoin and crypto products to their
• 9:02
  customers. If you're a Vanguard investor
• 9:04
  and you want to buy Bitcoin ETF's, you don't want to go to
• 9:06
  another platform. And nearly every major platform
• 9:09
  now offers Bitcoin ETF's. So I feel like this is a sign of
• 9:12
  signs of times, a big shift, but still we're not sure.
• 9:15
  But when we talked to Vanguard, they said they're listening to
• 9:18
  clients, they're talking about it.
• 9:19
  So again, they're opening the window by a little.
• 9:22
  Yeah. I mean, to me what it sounds
• 9:24
  like is they saw demand from clients and they want to make
• 9:27
  sure that clients stay on their platform to do what they want.
• 9:30
  To ecosystem. Exactly.
• 9:31
  Is that is that a fair assessment?
• 9:33
  Eric Voltunas, again, he was the one who I talked to for this
• 9:35
  story. He said that, you know, if
• 9:36
  Bitcoin ETFs weren't as successful, we may not be seeing
• 9:39
  this, but it's so hard to ignore the astounding success.
• 9:42
  I mean, all together, the cohort has around 142 billion in
• 9:45
  assets, 80 billion of those is from BlackRock, 20 billion alone
• 9:49
  came this year. So you don't even see the demand
• 9:51
  abating. And we with the SEC now you
• 9:53
  might see more cryptocurrency ETFs to come and to close the
• 9:56
  door. And that money making big like
• 9:59
  it's just lavishing capital investors lavishing capital into
• 10:02
  these ETFs is a big maybe mistake according to some.
• 10:05
  The floodgates for Bitcoin are happening at all levels.
• 10:08
  Not just at the digital capital level with companies like
• 10:11
  MicroStrategy, or at the institutional level with asset
• 10:13
  managers like JP Morgan and Vanguard recommending it to
• 10:16
  their clients. But also at the individual
• 10:18
  level, at the Congress level, with companies like Coinbase
• 10:21
  urging them to remove capital gains on Bitcoin transactions,
• 10:24
  opening the doorway for Bitcoin becoming digital money.
• 10:27
  It's a digital money that's looking to offer freedom to the
• 10:30
  world. And not only freedom, but just
• 10:32
  better tools for for businesses and people in general.
• 10:35
  Mr. Zeiken, do you have anything in particular that you think
• 10:38
  would do harm if we would put something in legislation?
• 10:41
  Thank you, Senator. I, I think that my theme is that
• 10:46
  there's a lot of potential for over reporting.
• 10:47
  We spend a lot of time on that. Even in this discussion about de
• 10:50
  minimis and with stablecoins itself, there's an enormous
• 10:53
  potential. This is a democratized form of
• 10:56
  financial asset class where people can use things in ways
• 10:59
  that weren't done before. And there's a tremendous
• 11:02
  potential there for over reporting and burdening the
• 11:04
  system. That's burdening the system for
• 11:06
  taxpayers and it's burdening the system for the IRS.
• 11:08
  So let's take reporting today. And if you enhance this by over
• 11:12
  reporting, by not including a de minimis rule, you're going to
• 11:15
  billions of transactions that taxpayers are going to have to
• 11:18
  report, keep track of. I don't think most taxpayers are
• 11:21
  prepared for that result. It'll probably hinder the growth
• 11:23
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• 11:25
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  digital future, is that you have the ability to remove your
• 12:15
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• 12:18
  asset that allows you to have full control with a fully
• 12:21
  digital product. For a lot of people, this isn't
• 12:23
  very straightforward, and this isn't very intuitive, but
• 12:26
  Bitcoin does offer you the opportunity to do this.
• 12:28
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  Bitcoin to get started. While Bitcoin is starting to
• 12:48
  emerge as a tool for everyday people that you can spend and a
• 12:51
  tool for freedom around the world, there are certain places
• 12:54
  that aren't so friendly to this digital freedom thing, like the
• 12:57
  UK. Your money, your speech, your
• 12:59
  identity. They want to control think
• 13:01
  before you post is their mantra. And here's the crazy thing.
• 13:19
  If you're not in digital media or social media slavery, well,
• 13:22
  you're probably in financial slavery.
• 13:23
  There's been a crazy story out there about a Tesla employee who
• 13:27
  worked there for 12 years that just in order to afford a home
• 13:31
  had to sell their stock in Tesla and that didn't even pay for the
• 13:34
  entire home. Listen to this story.
• 13:36
  I was the first out of five kids to buy my own house.
• 13:40
  I'm living my dream. This would have not been
• 13:43
  possible without Tesla stock. Hi, my name is Kyoka Orange.
• 13:47
  I've been at Tesla for 12 years. I started in plastics
• 13:50
  department. I worked my way up.
• 13:53
  I was a production associate and then a team lead and then became
• 13:56
  a supervisor growing up for me. So there is five of us.
• 14:01
  We just didn't have it like other kids.
• 14:03
  We all five US kids used to live in a one of our family friends
• 14:07
  trailers. We just knew our parents
• 14:08
  couldn't afford it. So I started at Tesla.
• 14:12
  I grew with all the opportunities and I was able to
• 14:15
  start a family on my own. Now I have 4 kids.
• 14:18
  I bought a Model Y so now we can fit my whole family in one car.
• 14:24
  We bought our condo, now we bought our house.
• 14:28
  Tesla stock was able to help us put down a huge down payment for
• 14:33
  our house about 3/4. Imagine that, Having to
• 14:36
  liquidate your equity in one of the greatest assets of all time
• 14:40
  and not even be able to afford a full home just to afford the
• 14:43
  American dream in a 75% down payment.
• 14:46
  This is financial slavery. And Bitcoin fixes this.
• 14:50
  And there's people out there like Joy Reid who think that
• 14:53
  freedom is scary. Is that if you go back before
• 14:56
  the 20th century, there were no income taxes, there were no
• 14:59
  regulations on business. You could earn as much money as
• 15:02
  you want, leave 100% of it to your children with no taxes.
• 15:05
  That's the world they want back. And to get it back, they need
• 15:08
  society to change. They need people to be less
• 15:10
  modern. They need people to want fewer
• 15:12
  things. Yes, Joy, I would love to get to
• 15:14
  a place where we can offer an inheritance to our children's
• 15:17
  children, where there would be equal weights and measures in
• 15:20
  money. Right now we pay to Caesar what
• 15:22
  is Caesar's, but that doesn't mean that we shouldn't fight
• 15:24
  against the system that Caesar operates in to usher in a new
• 15:27
  system, better system, a system built on fairness, open
• 15:31
  transparency in privacy, and we can all partake in it.
• 15:35
  October is a signpost for that. October is a signpost that
• 15:38
  Bitcoin is inevitable. The clown world is ending and
• 15:40
  sound money is being ushered in one October at a time.
• 15:44
  And this month, if it does what it's done historically well, we
• 15:46
  could see 138 K Bitcoin. It's just math and averages 250K
• 15:50
  before the end of the year. It's realistic.
• 15:52
  And if it does what it did when we got stimulus checks the last
• 15:55
  time, when it rose from $6500 a coin to $58,000 a well, we're
• 15:59
  going to see $1 million Bitcoin. Just looking back at what
• 16:02
  happened in the past, it's absolutely possible that this
• 16:05
  can happen now. Are you ready for it?
• 16:07
  This is Dante Coco Bitcoin simply happy stacking.
• 16:11
  Oh my bad. Before you go, I want to invite
• 16:14
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• 16:17
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• 16:20
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  tickets. Like share and subscribe to the
• 16:28
  channel if you I haven't already done so.
• 16:30
  Have a good weekend everybody and hope we see all time highs.