Bhutan Reveals $780 Million Bitcoin Fortune From Mining | Britcoiners by CoinCorner #141
Join Danny, Molly, Dave and Mike for industry-led opinions on important Bitcoin stories from the week. This week's topics: Intro Price UK to legally recognise digital assets as personal property Goldman Sachs CEO expects rate cuts MicroStrategy acquires additional 18,300 BTC Average return for Q4 in halving years is ~108% Bitcoin Mechanic's Ocean Mining breakthrough Second Trump assassination attempt Bhutan's $750m BTC from mining now on Arkham CoinCorner Bitcoin Backed Loans Britcoiners is a Bitcoin podcast by CoinCorner (https://www.coincorner.com) - a global leader in Bitcoin and Lightning services. Join our Telegram: https://t.me/britcoiners Follow Britcoiners on X: https://x.com/britcoiners Follow CoinCorner on X: https://x.com/coincorner #coincorner #britcoiners #bitcoin #bitcoinpodcast #bitcoinnews
Transcript
As soon as I told you that actually, you, I didn't know that every miner could start offering different services to help increase income, then all of a sudden you’re like, ‘Okay, now it works.’ But it works only if you forget the economic side of it. You can’t ignore that; that's the market. You have to think from a censorship-resistant perspective. Think 20 years, 30 years, 50 years down the line. Are we recording, by the way? This is a great start to the podcast already, ranting about a topic.
You think in 50 years' time, nations are hashing against each other, not for economic advantage, but for control and power, which becomes the advantage. You can’t differentiate at that point. You need the censorship resistance side because they will censor other countries. I do get it, it’s massive. There should have been much more fanfare about it. It’s censorship-resistant focus, not the economic side, which is what you've been focused on anyway. Come on, let's start the pod.
So, hey guys, are we ready to start now? Yes, Jesus. So that topic will come on to shortly. I feel like we’ve already been through it. We’re about to do it again. Great, can’t wait. Welcome to Brick Episode 141. Welcome back, guys. This week we’re covering the UK's clarity on crypto legal status, Goldman Sachs, MicroStrategy news, Q4 average Bitcoin returns, Bitcoin mechanics, another Trump assassination attempt, and Bhutan. No, Bhutan, please don’t stop, I’m so glad you said it that way. Don’t stop, that’s how I pronounce it. Where’s Bhutan? Bitcoin price is $59,600. It's been at $60k; a big day for Fed rate cuts.
Where are we calling it? It’s one of the topics. Jumping the gun a bit, but what do you think the effect will be on the price? Honestly, I didn’t read that part of the agenda. Regardless of what it will be, I think there’ll be a dip just because nobody knows what to expect and what to do. I think the market, nobody knows what the market is going to do in general. The anticipation is the rate cut, right? It's just how big.
Most share prices go up with rate cuts traditionally, no? Well, that’s technically not accurate. If you look at the stats on the S&P 500 over a period, in the short term it doesn’t necessarily go up. As the first rate cut starts, initially there are not necessarily positive returns. After 6 or 9 months, it gets more positive, but there were periods where it was actually negative when the first rate cut began. However, world events impact this, so you can’t compare directly because of things like COVID. I’m calling it: rate cuts happen today, probably 25 basis points, and the Bitcoin price probably moves up 25 basis points. There are a lot of calls for 75 points, which is crazy. Some are calling for it, but it’s slowly building momentum…