BlackRock Makes the Case for Bitcoin | Britcoiners by CoinCorner #142

Transcript

But this is the thing to read to explain something mind-blowing. It's not for the public, shall we say; it's not for humans, I mean. I was reading, and it was pathetic. I was weak.

Hi guys, welcome back. This is Bitcoin episode 142. The agenda this week: BlackRock, Fed cuts rates, Donald Trump makes history, or should I say Bitcoin history, Louisiana State Government, MicroStrategy, Germany seizing 47 crypto exchanges, and BNY Mellon (don't know what that means - oh, the Bank of New York Mellon - it's a great name). Jeff Park and Bitcoin ETF options, and the DOJ files lawsuits against Visa. It's going to be a good podcast, a stacked agenda. There's a lot to cover, so let's crack on.

Bitcoin price live price. It says here £62,300, but there we are, just behind you. It's behind us oh yes, £63,600. We just dipped back under £64,000. Weren't we at £64,000 for nearly the whole day yesterday? Wasn't it nice? You could feel it, palpable, I'd say. Described as palpable in the office at the start of this week. Dave sat down was it Monday morning? I think it was Monday. It's Wednesday now. He turned to me and said, "Can you feel it?" You can, we've been here so long, you can literally taste it in the air. You can smell it.

That's horrible, you know what I mean?

No, I don't. I don't think anyone knows what you mean.

No, I think he was nodding along with me.

He was probably just entertaining you.

No, it's literally you can feel it. There's good news, there's great sentiment coming. It's like the four-year cycle. We know what's coming through, you can feel it.

Dave, calm down. You're too positive, I don't like it.

It's not positive or negative. It's not that, it's just you get a tingling, that's all.

I think you might need to see a doctor.

Yeah, I think so. You're all with me, though?

I'm with you, definitely. We've had six months of sideways movement, haven't we? And now we're coming into the presidential election and FTX refunds. Eleven billion to people. That was actually missed off the news agenda, as well.

She got two years, didn't she? And she was on the hook for $110 billion. The ultimate snitch.

I thought we were done with FTX.

Sorry, that's why it doesn't make the agenda anymore. But still, we talk about it because of the $11 billion thing. So, FTX has $11 billion in cash to give back to their customers, which is meant to happen in about a week. Start of October it gets approval, but then I don't know how long it'll take to come back in.

But also, she has to hand back $11 billion. How did she have $11 billion lying around?

Yeah, that confused me. I thought it was just some incorrect reporting Bloomberg, Dave, so it could be incorrect.


Yeah, that's true. I'm very confused about that.

I don't know if she's got to forfeit $11 billion that she personally had. Where did she put that? I know where she got it from the customers' money but that's crazy.

How, yeah? What's it in? Is it in cash? Is it in crypto? I don't know what it's in.

I need to read the details of it or see if that's clarified. But I'm hoping that's not the $11 billion that's meant to be going back to the customers, because I thought they already claimed that all back.

You think her funds and FTX's funds have got slightly co-mingled in the reporting?

Well, she just stole it from the company, would be my guess. But if she stole $11 billion from customers, two years doesn't sound like enough, does it?

No, it doesn't.

She'll be out in six months as well.

No, but the judge did mention her impeccable cooperation, because she by the sound of it, she just went in there and said, "We'll take SBF down."

Good.

What did he get, like 30 years?

It wasn't life, was it?

No, but I think he got something like that.