US Crypto Reserve: Bitcoin and altcoins WILL be treated differently | Britcoiners by CoinCorner #161

Transcript

"Right, 10 being the extreme bullish side, like one pure bearish-where did that announcement sit with everyone? It's an 11 from you; it's a five from me. It can't have been any more bullish because it could have been more bullish. They could have said, 'We're going, yeah, we've got a buy. We've got a buying strategy-buy one a day.'"

"Strong hit on the microphone. Anyway, back on-let's go. Okay, let's go."

"Hi guys, welcome back. Brick Episode 161."

"Agenda today-we've got updates on the US Crypto Reserve, or Bitcoin Reserve. We've got El Salvador and the IMF. We've got Texas and Utah's Bitcoin reserves. We've got Reddit-oh, Reddit co-founders and TikTok, and on-chain stuff. Do we give a crap about that? It's ticked-someone's ticked it. Did you tick it? Did I tick it? Yeah, Zach's ticked it."

"We've got SBF-he's back, back in the news. Great to see him back-we'll see, we'll see. And a tweet from Marty Bent. And that's it. Let's go."

"Bitcoin price-current price. Did we do a pod last week? Did we? No. No? Yeah, we did. We did, yeah. It was just the day before the US Crypto Reserve announcement. Was it Bitcoin Reserve? Well, it's Bitcoin now, but it was at the time. Who's right? Get out of town."

"Both. Both are right."

"You said it was Bitcoin-only."

"There's just two-usually, the loser says, 'We can both be right.'"

"No way. I'm not having that either. You said it would be Bitcoin-only."

"There is a Bitcoin-only one."

"I said it would be a portfolio of shitcoins."

"There is a portfolio of shitcoins."

"Both right."

"The Bitcoin-only is the only one that can buy into the shitcoin one. You can't buy more of it, you can just have seized ones and sell them."

"So basically, it's not really a reserve. You could argue that the Bitcoin one is really a reserve. It's only potentially to buy-there's no real promise to buy, it's all based on seizures. So how is that a strategic reserve if it's based on seizures that you're not controlling?"

"It's not based on seizures."

"Seizures will be prominent but weren't-"

"No. Yes."

"That was the wording of it. Go read it."

"I have. I was one-I feel like I was one of the few that actually did go read it, sent it all around. She summarised it very nicely as soon as it happened."

"That was the incorrect one, wasn't it?"

"No, she also did the right one."

"Z, that was the fact sheet one, not the actual executive order."

"Fact sheet issued by the government is a good source of information."

"It was a breakdown of it."

"People-actual executive order-if you go and read the full thing. If you go check Molly's tweets, she summarised it nicely. It actually has dates."

"No, it's missing. It missed dates and things like that."

"What was the price of the last pod? That was my question."

"Right, we haven't even got-we haven't even started."

"Who cares about the price? We're arguing."

"Right, the current price is-sorry-81.6. Last episode's price was 92 and 82."

"92 and 82?"

"Yep."

"Low since last-what's happened?"

"Markets have gone to [ __ ], haven't they? Everything's dropped. Every major tech stock has dropped."

"Why?"

"Donald J. Trump."

"But why?"

"There is no faith in what that guy says. It's just erratic."

"No, he's doing it purposefully."

"If he had the intelligence to do it purposefully, I might believe you."

"But the US-I've made notes on this. Let me-"

"What, this is probably the first time-"

"Is this going to be about bond yield and debt?"

"There is some debt stuff in it. There's a combination of a few things. But yeah, there was-my thought process around it. SBF sent last night in the group, I don't know if anyone paid attention to that."

"Yeah, yeah. I got his newsletter this morning."

"Which-this is about Bitcoin. This was on the agenda, wasn't it?"

"This is, yeah."

"So this was part of my thought process. And I'm seeing a few people actually now say it's their thought process."

"B's thought process that became your thought process?"

"Is it your thought process? Weird that Marty Bent would tweet it, you share the tweet, and it became your thought process."

"It's my thought process. I saw him tweet-actually, I saw somebody else tweet this first, and I saw him tweet, and I thought, 'I'll share that with you guys and say, 'Look, that's what I've been trying to pay attention to.''"

"So it's lots of other people's thought processes, not Danny's?"

"Yes. Dumping the markets purposely."

"For? As Dave's saying here-and might B."

"Do you want to just read Marty B's tweet? Let's give him some credit."

"I thought it was your thought process."

"This man's a separate one. Which allows-"

"Right. M's tweet: 'If the plan is to let the stock market go and drive bond yields lower to make the trillions in debt that need to be rolled over this year more manageable, it is being executed flawlessly by Trump.'"

"Yeah. So lower treasury rates. There's also the side of it-so he's been arguing with the Fed, hasn't he, about lowering rates? And this is kind of going to force their hand in some respects."

"They will-the US, as this M says there, the debt side of things. Lowering the rate by the Fed will lower mortgage rates and start to pull the housing market back as well. I think that's another big thing he's focused on."

"Why do you think-"

"So people move in-so people would exit the stock market to move into a treasury reserve yield. So there's more people buying it up, which means they can offer lower yields on them."

"Yeah."

"Right, so-and essentially, by crashing the market, you force those yields down because people go into them as a safety net."

"Yeah."

"So that was Donald Trump's plan all along? To get into trade wars, crash the stock market a little bit, so bond yields go down, and that the massively inflated national debt is actually serviceable?"

"Yeah."

"Okay, and that's what people believe is happening?"

"I think that is a big part of this, yeah. That, with a combination of the tariffs."

"But the tariffs are tied to this anyway."

"Okay. That, plus the tariffs. Plus the Doge-doggy, whatever you want to call it-that Elon's doing, and trying to-"

"So where are we saying-where might Ben say the trillions in debt that need to be rolled over this year-"

"You think the perfect situation for Trump would be that the treasury yields are at an all-time low when debt needs to be rolled over?"