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BREAKING: U.S. Cancels Plans to Buy Bitcoin! | Simply Originals · Simply Bitcoin

• 0:00
  Breaking the US just slammed the brakes on buying more Bitcoin
• 0:05
  for the Strategic Bitcoin Reserve.
• 0:07
  This comes just hours after we hit a brand new all time high
• 0:12
  and minutes before a $420 million wipeout and the hottest
• 0:17
  inflation print in years. Was this the trigger or is
• 0:21
  something much bigger brewing? Well, let's find out.
• 0:24
  Tee up the Scott Besson tape, We have massive news to get to.
• 0:33
  You're talking about a number way above 750 billion.
• 0:38
  What's the story on gold? Look, you know, we, we've got
• 0:42
  this, the large gold holding. I, I doubt we're going to
• 0:45
  revalue it, but we are, we are going to keep it there again as
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  a store of value for the American people.
• 0:51
  We've also started A to get into the 21st century a Bitcoin
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  strategic reserve. We're not going to be buying
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  that, but we are going to use confiscated assets and continue
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  to build that up. We're going to stop selling
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  that. You know, I, I believe that
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  Bitcoin Reserve at today's prices is, is somewhere between
• 1:13
  15 and 20 billion. Let's break this down, because
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  this is bigger than it sounds. Scott Besson just confirmed the
• 1:20
  United States is sitting on between 15 and $20 billion worth
• 1:25
  of Bitcoin. That's about 165,000 TTC, all
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  scooped up from confiscations. We're talking Silk Road coins,
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  criminal forfeitures, seized exchange wallets, the kind of
• 1:36
  bags most governments would have sold off years ago.
• 1:40
  And here's a twist. They're done selling.
• 1:42
  That's undeniably bullish. The steady drip of government
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  coins hitting the market, well, that's over.
• 1:48
  The supply just got tighter. But they're also not buying
• 1:53
  anymore, at least not on the open market.
• 1:55
  Any growth in the US strategic Bitcoin Reserve, as of Besant's
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  comments, will only come from seized assets, not fresh buys.
• 2:05
  Besant calls this budget neutral translation.
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  No taxpayer money, no budget allocation, no treasury desk out
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  there stacking sets. And look, I'm not saying they're
• 2:15
  playing games here, but if I were a nation state with 165,000
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  BTC already in cold storage and I wanted more without driving
• 2:25
  the price up, that's exactly what I'd say.
• 2:28
  Oh, we're not buying any more Bitcoin, right before I put my
• 2:31
  friendly custodians on stealth accumulation mode.
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  Just saying. So here's where it gets
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  interesting. Just hours before Besant made
• 2:39
  that statement, Bitcoin blasted to a brand new all time high
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  124,517 Cockbucks, leapfrogging Google and market cap and
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  officially locking in its spot as the 5th largest asset in the
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  world. The mood was euphoric.
• 2:56
  The memes were flying, laser eyes were back in full force,
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  and then bam, within 60 minutes we're down 6 grand and 420
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  million and liquidations just evaporate from the market.
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  Now the official story. A hotter than expected inflation
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  print sent the dollar surging and risk assets dipping.
• 3:17
  Which brings us to the real market mover of the day, the PPI
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  shock. The producer price index.
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  Wholesale inflation came in smoking hot, a .9% for July
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  versus expectations of just .2%, the biggest monthly jump since
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  June of 2022. Year over year, plus 3.3% hot
• 3:38
  inflation, stronger dollar Bitcoin pull back.
• 3:41
  But here's the twist. Markets still see a 96.5% chance
• 3:45
  of a rate cut in September, and for the first time, traders are
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  pricing in more probability of A50 basis point.
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  Cut approximately 11%, then no cut at all, 10%.
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  That is wild. This one fired up all the real
• 3:59
  ones out there. Google Play rolled out a policy
• 4:02
  update saying wallet apps would need government licenses to
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  operate in the US, EU and 13 other regions including like
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  Fins and registration, Mica licenses, FCA in the UK, Vara
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  and Dubai. The problem?
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  They didn't clearly distinguish between custodial and non
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  custodial wallets. Everyone freaked out, and
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  rightly so, thinking Google was banning non custodial wallets.
• 4:27
  Then after public backlash, Google backtracked and clarified
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  non custodial wallets are exempt.
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  But the message is clear, Big tech is more than willing to be
• 4:37
  the gatekeeper for your Bitcoin. Now do you want to know why all
• 4:41
  this is bullish? We're about to bring it home but
• 4:43
  before we do, look at our likes 3 or 4 times maybe?
• 4:47
  I'll pump those numbers up. Those are rookie numbers in this
• 4:49
  racket. Don't forget to like, subscribe
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  and give us a PAMP while we take a moment to recognize our
• 4:54
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• 4:56
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• 4:59
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• 6:13
  loan all right now here's why I'm not sweating this dip.
• 6:16
  The US just confirmed it's a top ten Bitcoin holder.
• 6:20
  That's massive. And the no more selling policy
• 6:23
  is a permanent supply cut. Bitcoin just beat Alphabet and
• 6:27
  market cap and the parabolic phase hasn't even started.
• 6:31
  Corporate treasuries now hold 951,000 BTC and 15 companies
• 6:36
  added more just last week. Larry Stank and the ETFs are
• 6:40
  still hoovering up way more Bitcoin than miners produce.
• 6:44
  It's all right Larry. One day you'll be like Nancy.
• 6:47
  But we've got institutional demand, sovereign accumulation,
• 6:50
  and thanks to Google's misstep, a fresh reminder of why self
• 6:54
  custody matters. Bitcoin volatility.
• 6:56
  They are just the bumps on the road to Valhalla.
• 6:59
  That's why we say buckle up. The fundamentals have never been
• 7:02
  stronger. Stay humble, stack sets and hold
• 7:05
  your own keys because the future doesn't belong to big tech or
• 7:08
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  one. Don't forget to like subscribe
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  swivel. Love you guys, catch you next
• 7:56
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• 7:59
  with the ship.