reset the clock btc dips below 100K for
the first time since May as geopolitical uncertainty reaches new heights america gets
involved speaking of which the situation in the Middle East takes a fresh twist as
the US bombs Iran’s nuclear sites can the markets rebound token swaps it’s not just regular
companies adopting Bitcoin treasury strategies now altcoin projects are starting to stack
BTC 2 Gigabrain move or last roll of the dice and a look at the top performing
cryptos tweets of the week dates for your diary heroes and villains and much more
besides this is the Coin Bureau News Live hello friends welcome back it is great to see you
again we are back with another edition of the Coin Bureau News Live and I am joined as ever by Nick
welcome how’s it going guys it’s okay we’re live it’s okay we are live we are live i can’t tell you
how many people have reached out concerned about our well-being here in the Middle East based in
Dubai yeah people have been in touch with us yeah indeed yeah I have had literally nothing like my
family friends back in the UK no one has messaged to say so they’re all blissfully unconcerned it
would seem it seems so so yeah so that’s nice of them um but yes uh we are living in interesting
times at the moment folks um so we are going to be discussing that in a bit more detail later on
in the stream uh Nick is also going to take us through last week in Bitcoin and we’re going to
be talking about what seems to be the next phase of the whole Bitcoin treasury meta um which is
certain altcoins now starting to swap into BTC um and of course uh there is news that even
um at least two or three more companies have just announced in the last few hours um that
they’re going to be buying Bitcoin as well so this Treasury strategy is still very very current
it’s in the vogue indeed it is it is the thing it is the current thing um but uh so we will get
obviously to the Middle East situation as well and the effect that that is having on the crypto
market and let’s face it all of our bags as well um but it’s great to see you everyone thank you
for joining don’t forget to hit the like subscribe if you haven’t ping the notification bell do all
those things let us know your sentiment and down below what do you guys think absolutely what do
you guys think about this yeah tell us tell us how you’re feeling um remember we’re not talking
about your alts um and uh yeah we will get to some of those comments and if you have any questions
as well um drop them in and if we have some time later on we will endeavor to answer those but
uh let’s crack on nick last week in Bitcoin it was an interesting one right yep today for the
Bitcoin price last week while it was eventful it seems like the past few weeks have been eventful
indeed there is no week that goes by when it isn’t eventful um what a crazy timeline we live in uh
but let’s roll back to Monday last week and you will recall it started off very bullish because we
got the news that Mr sailor had bought $1 billion a gargantuan $1 billion worth of Bitcoin what a
way to start the week i mean this was this was starting on a high yeah now it was exactly 10,100
Bitcoin took the total holdings to 592,100 BTC uh so uh that was it buy and then that of course
led to a rally in the price of Bitcoin right as one would expect uh so we saw that on Monday
our morning and it was looking good uh despite the concerns about the war because this was after
Israel had started lobbing a few missiles at at Iran yeah it was all it was all heating up over
in that direction indeed and then on Tuesday as we we got the news that the BOJ uh as we talked
about last week BOJ was having a meeting Bank of Japan y yeah exactly so uh this was uh when
we alluded to last week which I alluded to they came out no interest rate changes um but uh
there was as predicted a slowdown in the Q in QT or quantitive tightening which is generally
bullish because it means more liquidity or less tightening on the balance sheet um and then
Bitcoin did rally a little bit on the news but uh unfortunately this got uh it was short-lived when
more concerns around the US potentially joining the war came to the four uh talk of this and
suddenly everyone started talking about massive ordinance penetrators exactly everyone became a
professional on the MOPs the mother of all bombs yeah yeah and the delivery vehicle and all that
kind of stuff which we will we will get to later on yep uh then the price retreat retraced but it
held above 100K there we can see you know point in that I did that that was me that was me um yeah
so it it held above 100K thankfully um and then on Wednesday uh it recovered a bit again and when
tensions slightly simmered down and traded within a range fomc meeting was on Wednesday evening yes
as expected uh rates were kept constant although what is interesting is the new dot plot did show
that at least uh well most of the Fed governors still in the median case expected only two rate
cuts this year but what we did have was that uh seven governors expected no rate cuts at all
so that’s compared to five in terms of the year la from the last meeting so they’re slightly
more hawkish yeah and of course it’s it’s worth remembering isn’t it that we talk about you know
maybe two rate cuts this year as as the year sort of drags on i mean that could just amount to 50
basis points if they do 50 points yeah it’s which is which is nothing i mean that would that’s
the same level as Japan’s current exactly oh man it’s crazy and depends we may not have any
given depends on what happens with inflation oil all that kind of stuff but um Thursday and Friday
sideways as Trump said that Iran that they could strike Iran in two weeks so interesting um and
then on Friday actually we had a very big bounce or what’s a liquidity run and this is why I like
to look at these liquidation heat maps because you can kind of see see exactly here an example of a
liquidity run where market makers or price rallied into a lot of uh stop losses on the short side
and order levels as well and that was a wick up that we had about 107K on Friday um it was also a
very big day in options expiry which usually tends to lead to volatility yep yep and then we had a
rugpool on Friday evening where you had a massive liquidations and you could also see that the the
the liquidity hunt play out so well because you see there Bitcoin rallied up to the liquidity
zones and then came down again as the market makers pushed it down to so they liquidated the
shorts on the way up and then liquidated the longs on the way down wow so it’s just it’s just kind
of whipsing between those two those two zones of liquidity exactly if you believe in the Woff whale
manipulator that theory uh play in the markets play in all the crypto traders then this is how it
plays out um ETF flows meanwhile were were pretty solid right was solid exactly all every we had a
strong day nine consecutive days of inflows um so we’ll have to see how it happens today but that’s
nine consecutive days although the Friday one was a bit small it was definitely it was definitely
tailing off some small like inflows small inflows there yeah i mean you know yeah i guess we take
any inflows we can get but yeah that’s quite a drop yeah exactly from from the previous day okay
so I mean there was a lot of stuff pointing in the right direction but obviously uh hanging over
everything was was what was happening here in the Middle East indeed and on the weekend it seemed
to have played out uh on Trump hit Iran um a full payload of bombs bombs bombs that’s an interesting
use of caps isn’t it a full payload of bombs yeah because they were they were going to drop confetti
they were going to drop like pamphlets you know a full payload of what spinach i don’t know like I
imagine that’s what they dropped well it’s good for him to clear that up and um yeah now is the
time for peace having just dropped a full payload of bombs yeah please i will yeah um anyways crazy
timeline um and of course the bomb also seemed to have been errant and it hit our portfolios as well
because direct it on yours by the way yeah exactly all of ours um and then of course news started
coming out of Iran the concern for most has been would they close the straits of Hamuz um and uh
and basically the and that’s what obviously drove a lot of the FUD especially yesterday and uh we
could see this with Bitcoin it fell below 100K that was so disappointing yeah i was like “Oh my
god that level that floor that floor I had hoped so much.” And it seemed like that bunker bomb
had broken through more than just a bunker broke through that 100k a massive ordinance penetrator
dropped on the chart exactly um it did yeah it did manage to It did manage to recover overnight yeah
i mean we’re we’re sort of and we’re holding above 100K now 101k yeah yeah yeah um Okay so yeah
this this kind of all hanging over the market meanwhile uh Sailor has bought again right
oh my how much did he buy guy well uh I can I can reveal that he bought the princy sum of
245 245 man 26 million that’s literally just scooping the chain he’s running out of fiat to
me things yeah so So so what he bought 10,100 BTC last week and this week 245 he likes He just
likes to keep us guessing doesn’t he exactly well that sort of makes it magical um but MetaPlanet
actually bought as well today uh 1,111 Bitcoin taking their holdings to 11,0001 11,000 uh 1,111
yeah so it’s basically crazy right so what’s the what’s the because I understood that when they
did it to 8888,888 because obviously 8 uh lucky uh lucky number in uh in Asian culture so what is
there some significance to 11,111 or just easy to remember okay yeah i mean I I guess maybe it’s the
sort of thing it’s just good for headlines isn’t it yeah exactly and it makes sense and now they
got it worth 1.1 billion so you know I mean I’ve walked right into it and mentioned it haven’t I
exactly yeah it’s got your attention um so anyways that’s what’s happened last week now we quickly
roll roll over to what is to come this week as well as the rest of this month um so obviously
it’s a low liquidity summer and there are many things to watch this week of course the prime of
them being geopolitics in the Middle East uh and and the straight of moves which we’ll get on to
in a bit it seems like transfers are not flinching at all because at least prior to the stream the
futures markets in the US are looking green we’ll see how it opens in the next 20 minutes so it’s
interesting there but yeah this is historically Q3 or Q2 is historically as we roll it into Q3
q3 is historically a slow quarter june is a slow month so this could play into it the whole concept
of the sell in May go away uh for the markets yeah do you know I’m kind of well we’ll discuss we’ll
discuss all the straits of horm stuff shortly i’m I I think the sort of prospect of a summer
lull actually worries me a bit more in terms of what it means for prices and and our portfolios
apathy is the worst thing because when there’s when nothing’s happening to the price that’s the
worst that’s where you have the most attrition in the markets uh so we’ll see um on the daily just
quickly looking at the Bitcoin chart on the daily unfortunately over the weekend we broke through
two previous Zo uh support levels and that was the 50-day moving average on both the uh simple
moving average and the exponential so those were historically at least for the past 3 weeks been
strong zones of support and they hadn’t held up so that’s not looking too good from a momentum
perspective okay um and then this is also an interesting chart to watch is the uh from glass
node and that’s the short-term holder realized price basis basically it represents the average
onchain acquisition price held outside of exchange reserves that has not moved um in the last moved
in the last 155 days so basically the short-term holders when they accumulated and uh it’s since in
since April Bitcoin corrections have consistently found support at the short-term holder level and
right now the short-term holder level is $98,200 so that’s the next key level to watch potentially
as a support you know 98.2 all right but if you guys want more views on where we could be where
we think the market could be heading uh be sure to check out the more coin bureau so scan that QR
code over there because we actually have a video we did a stream last week we did we did a live
stream with a special guest uh who you guys can go and watch he has shared his perspectives not
just on Bitcoin but also on altcoin altcoins and where we could be going with Bitcoin dominance
so be sure to check that out there’s also an important announcement in that stream as well yes
do check that out our guest had some very uh very interesting views on the markets on charting and
yeah as Nick says at the end of that video there is an important Coin Bureau announcement which I’m
sure all Coin Bureau fans which I presume most of you I mean looking at the comments not all of you
are um but I presume most of you are um then you might be interested uh to see what what we talk
about at the very end of that video so so do check that out uh meanwhile uh let me give you Nick
an overview of uh sentiment in the comments uh generally holding up pretty well uh Joe Pendlebury
who I believe is from Liverpool says noise FUD FUD fades interest rates drop money printing all-time
highs this is a fact y I think I that’s a I think that’s a good perspective to have joe filter out
the noise and you realize that that’s mostly what it is um uh Adam is uh lamenting having to stay up
late again um Adam have you considered moving to a more uh friendly time friendlier time zone perhaps
um uh Mickey Pix is concerned well as you all have noticed Mickey I’m not wearing the same clothes
again actually I am wearing the same shorts again but I am uh wearing different clothes this week so
I hope that I hope that allays some of your fears um and uh so finally someone asking after our
welfare or my welfare at any rate how you doing with the conflict in the Middle East well so far
Pablo so good so far our houses are intact yes they’re not the prime target necessarily i don’t
think Iran is going to want to retaliate against Guy the crypto guy necessarily but I I think they
may well have a beef with Nick so you know just saying i’m a sleep I’m an a secret agent for the
US government i think I think Nick has probably made some powerful enemies across the Straits of
Hormuz so just you know just be careful Nick oh man um and Ashley are you guys worried living
in the UAE no if you spend your life worrying uh you’ll never get anything done no time no
need to stress guys no need to stress um let’s hope those aren’t famous last words okay let’s
uh let’s talk a bit about the situation in the Middle East then because you know like it or not
this is what is driving the markets at the moment and it’s not just it’s not necessarily the
situation itself but more the kind of concerns about which direction it could go in obviously
there was this big escalation over the weekend uh that the US got involved um and dropped these
uh massive ordinance penetrators on Iran’s nuclear sites um there they are to America yeah there we
go um gosh it’s been a long time since I saw that movie I might have to watch that again it feels
like a sort of South Park creators right it was a really good movie yeah um not easily forgotten um
and yeah I mean just purely from a out of interest perspective this was a a huge operation apparently
there were 125 aircraft involved 125 and they did some sort of decoy decoy yeah because they think
that first of all I don’t know what threats they think they faced in Iran like there’s literally
no more anti-aircraft cover of any description israel’s been flying free there for the past
week but they yeah they in devised this really elaborate decoy where they would make these
B2 spirit bombers fly west to as a ruse to the Iranians which makes me wonder what they think
to the Iranians are watching the sky scan like um you know flight radar and checking these
B2 bombers fly out oh good they’re going to go and bomb Australia or something like they think
it’s like where’s it going you know um but yeah so there was there was a a ruse a decoy and I think
okay so what happened happened we’re not going to talk too much about that or get into the details
that’s not really important right now what I think is most important from the market’s perspective
is the fears around the closure of the straight of which Iran had factually um the parliament
voted on it but I still you know the parliament voting on something is completely different from
them them actually doing it yeah I mean as as I understand it any decision on this sort of thing
is kind of taken by the supreme leader exactly so I’m Yeah I’m not sure the parliament as you say
the parliament voting on it is probably neither here nor there but obviously the fear the fear
among market participants is that Iran somehow closes the straight of Hormuz whether that’s
by attacking shipping there or laying mines or you know something similar um and obviously
the reason why there this is a fear is because uh I think 20% of the world’s um crude oil passes
through the straits natural gas as well natural gas too um so this would obviously have massive
ramifications for global trade this would have massive ramifications for oil prices um which
have so far well we’ll look at this later but so far oil prices haven’t really done very much um
and of course it will cause a whole lot of panic lead to fears of sort of further escalation as
well so um yeah there are several ways apparently that Iran could do this but it’s more sort of the
fear around the fact that they might yeah uh fear that leads to basically increases in the costs of
insurance u and then ships themselves not wanting to navigate the strait that could also lead to the
rise in the price of oil but so far so I guess the question is is Iran likely to do it and I think
yes they could but there are caveats it would of course really hurt Iran itself because they rely
on the strait to send their oil out so it would be kind of like economic self suicide um and um you
know also China would not be very happy china buys I think 80% of Iranian oil yeah so China and I and
I think a hu like the vast majority of China’s oil comes through the straight of Hormuz actually the
the amount of oil that goes through the straits and to western countries is relatively negligible
so actually closing the straits of Hormuz would really hurt and irritate China obviously
China is one of kind of the few friends that Iran has at the moment so you sort of think
that would have to be a very sort of lastditch um last ditch attempt by Iran um if they were
to do that so you it kind of feels like maybe it won’t happen obviously we hope that it doesn’t
but this is this is the big fear that has it’s also your final trump card pun intended uh is if
it is the final trump card is closing the straits and you do that you have nothing else to to bring
so once you’ve done that that’s your final card played then you have no more threats to raise so
that’s why some geopolitical game theorists would say it’s not going to happen and poly market bers
would agree if you take a look at the poly market odds they have dropped considerably since uh the
rise yesterday 29% chance i think it may be even lower now now it’s okay we needed to update that
and um the the same with the oil price so although the Iranian parliament thinks they can close the
straight and wants to close the straight the oil price would disagree with them yeah I think this
is this is definitely the chart to watch at the moment the oil price i think you don’t I think
100% agree i think that if you know from oil traders the oil market is one of the most insider
markets there is in terms of people how they know how OPEC is going to move and all that kind of
stuff and you will see the oil price reacting much much quicker than the actual news flow if
there is going to be any sort of closure so that’s interesting so the oil price is a very reliable
barometer of 100% yeah okay there’s also some interesting things to note about the oil markets
as well even if something like this even if there was a sort of straits closure history suggests
that the the oil price shock I mean because you I I’ve seen predictions that it could go to $150 a
barrel etc you know which would more than I think more than double from current level um but history
suggests that shock wouldn’t last very long um the there was the Gulf War in 1991 uh there was the
um second Gulf War in 2003 even Ukraine in 2022 we saw sharp uh p uh price rises for oil um
and it didn’t it didn’t really last all that long didn’t last that long at all and also worth
noting that OPEC has a spare 5.7 million barrels per day of capacity especially from the Saudis
and UAE and there are g there are pipelines that could potentially take things around it but
this is all okay so this is the commodities markets and global trade what we care about
is the impact on the price of Bitcoin and um while many were hoping Bitcoin would be a safe
haven it did appear to fall with uh the rest of the risk markets yesterday given that of course
Bitcoin is one of the only assets you can trade uh over the weekend that gives you exposure to risk
of some description it did sell off um and indeed Bitcoin has been having a stronger correlation
with equity markets over the past few weeks as opposed to the correlation with gold for example
yeah um so it has acted like that now I think in the short term the geopolitical uncertainty will
lead to a volatile Bitcoin price and it could fall again if there is more uh escalation in the in
the conflict although I think in the longer term fundamentally Bitcoin is the only sovereign asset
fully decentralized without a state that you can invest in that gets you hedged from this kind of
geopolitical you know confrontations and things like that so yeah my view it I kind Yeah I got
to agree i kind of it’s just you know we we we in crypto understand this idea that Bitcoin doesn’t
shouldn’t really care if the straits of Hormuz are closed or not um and you know ditto for any
other kind big geopolitical event you just feel don’t you that the sort of traditional markets or
traditional investors if you like are still kind of struggling to catch up with this and that may
be why you see these sort of sell-offs in Bitcoin at times like this but as so many people have been
pointing out you know it keeps it keeps rebounding indeed yeah um and we’ve got a great tweet uh to
that regard which we’ll uh which we’ll show you a little later on um which I think says it really
really well but yeah so basically to sum it up a lot of uncertainty basically around the Iran
situation that is probably going to continue I think for you know for a while um but really
it’s the uncertainty that’s driving it it’s the it’s the fear around what might happen and as
I said earlier actually in terms of what could affect prices and what could keep our portfolios
suffering i’m I’m more worried about the uh the lull over the summer that you talked about
earlier exactly that happens obviously every year yeah exactly so that’s what to watch out for
guys let’s bring on the wall of fame and shame is the [Music] dance trend hasn’t gone viral yet
oh yeah um it will flash dance she’s a dance flash mob dancer um okay uh oh Lowski what that is one
of my favorite movies i I suppose Nick’s got the hair for the I got the Yeah i’m the dude bro yeah
i I But you’ve got more of a Walter temperament well I I need to watch I’m far more dude than you
are i need to watch the movie to get the to get the reference mate i don’t know what that means i
would love to know the Big Labowski oh what a film i might I might I might save that one um that’s
brilliant okay uh so um on the wall of fame this week uh we thought we’d give a shout out to two
of our uh most loyal consistent viewers um Brett and Kranskinator um you guys uh you guys watch
and comment every week you’re usually first up watching the stream um and look we do these
streams for you guys i’ll I’ll I’ll be first to admit Nick and I really enjoy doing these it’s
great fun it’s the highlight of our week but if no one was watching there wouldn’t really be any
point um so we do it for you and we really love the fact um that so many of you out there watch
and enjoy on a regular basis and we wanted to give a shout out to two of you i know there are lots
more who watch and comment regularly and we will uh we’ll give you guys a shout out at some point
in the future as well but uh Brett and Cranonator we really appreciate um you guys supporting
us and commenting and just Cranator needs to update his profile pick though yeah that’s if if
Cranskinator has one failing um it is uh it is a lack of profile pick if Brett has one failing um
it’s that he seems to have developed a theory that because I’m English uh I don’t wash um I mean
guy you do look like sometimes you wear stuff looking like and showing up to streams like many
people comment that “Hey is a is it a hobo?” kind of like I’m just saying it’s kind of like you know
listen Brett all I’ll say to impress man all I’ll say is no one here at Coin Bureau complains about
the smell they complain about everything else but they don’t complain about the smell so just just
bear that in mind all right you can go to the wall of shame just as easily don’t don’t make me do
that um okay meanwhile over on the wall of shame this week uh Nick what’s going on here so um now
I think that the wall of shame is ETHC now this is not bashing Ethereum or anybody in the Ethereum
community at all um this is more related to the choice of location and of the event this year
now I agree this may have happened the choice of location may have been last year as well but
they may have wanted to reconsider where it would be because on top I know last year they had a
smashing location in Brussels top tier location S tier location in Europe but this year they’ve
chosen to hold the event in Paris which has you know developed an addition an additional tourist
event like activity you can do is try and dodge being kidnapped for your crypto wallets and
stuff yeah it’s happened like the most of the kidnappings this year have happened in Paris
and in France indeed even last week there was a story about a cryp a crypto tick tocker who was
kidnapped for his crypto holdings although he was a lop when they once they discovered how that
he was poor and he was actually poor they felt sorry for him and let him go but the point of the
matter is I do worry for people who are going to EDCC if you know I if if Vitalik is going bro
please take some bodyguards you know don’t be guarding in public yeah this this seems a very
odd choice of city uh for a crypto conference in in like literally the you know I don’t quite know
what’s going on in France but it’s literally the epicenter of crypto kidnappings and violence
at the moment so uh yeah to have a and I mean you know not going to bash ETH but the the ETH
community is not necessarily known for being you know tough hand-to-hand combat experts are
they you don’t say they’re not you know they’re they’re much more about I was expecting them
to be like fighting the UFC guy yeah yeah so this just seems to be Yeah a very odd a very
strange choice of city so we’re putting ETHC not necessarily Paris paris has got a lot going
for it um but yeah ETHC for choosing a a very odd place to do it maybe maybe because Terra if you go
to crypto I mean if you go if you go to Paris and people don’t think you have money it’s okay you’re
not likely to if Guy goes there and he drives like he usually does they’re not going to try and mug
him thankfully well they’ll just be repelled by the smell according to Brett so you know I’ve got
nothing to worry about anyone tries to come close to me they’ll just be beaten back by the stench
of my unwashed pommy even worse than the French Even most of the French is well done Nick you’ve
just alienated an entire nation congratulations um we used to we used to have quite a lot of
French fans I think not anymore i know not anymore and now we’ve also lost all our friends
from Belgium I see so I’m sorry thanks Nick just wiping a sway of followers from the board there
um okay let’s move on before Nick says anything else that offends entire nations in one fell swoop
we’re going to talk about Bitcoin treasuries i was looking through Twitter just before we started
on the stream um Anthony Pompiano has announced a $1 billion merger to launch Pro Cap Financial a
Bitcoin native financial firm going public virus spack um it’s going to be a uh $750 million raised
for Bitcoin Treasury Services um Norway’s publicly traded Green Minerals just announced their plan
to buy $1.2 billion worth of Bitcoin a French company you know you know France that comp that
country you’ve just offended uh they uh one of their companies has just announced they were gonna
buy Bitcoin probably rowing back on it now thanks to Nick um so Bitcoin treasuries are everywhere
and obviously uh Michael Sailor and Strategy are the kings of this you’ve got companies like Metal
Planet as well picking it up this is undeniably uh one of the big metas of this particular year
and cycle grant Cordone as well you know the uh personal finance guru now obviously we talked
about this two weeks ago and we raised the concerns this could bring and and Bob Lucas one of
the well-known names in the space also raised this concern it’s going to be massive the collapse but
um for that’s for much later so I think that it’s true it seems like this meta will continue rolling
out and as long as they’re bidding our bags up you know we won’t complain we’ll have to deal with the
after effects later on we can be we can complain when they overleverage and the music the music
is singing the music is going it’s playing you know we don’t need to worry about which chairs
we sitting on right now the music is all good currently there’s enough chairs for everyone
those chairs are going to run out at some point but we’ll we’ll cross that bridge when we come to
it exactly um but a really interesting development last that that sort of bubbled up last week and
that we’re going to discuss today is that it’s not just uh regular companies if you like that are
buying BTC actual altcoin crypto projects are now doing it as well well yeah at least proposed it
and there’s two big ones cryptocurrency projects and the first one of course is Cardano’s ADA uh
now this was a thought that was put through by Cardano’s founder Charles Oskinson and he proposed
converting 100 million a which is 5 to 10% of its $ 1.7 billion treasury into Bitcoin and Condano
native stable coins and the goal here is to boost DeFi liquidity and show Cardano can compete with
faster growing chains yeah um now this was as you can imagine this was a a bit divisive a bit like
that shirt that Charles is wearing in that picture there i think a massive ordinance penetrator
needs to be uh dropped on that shirt at some point as well i did not expect to hear that in
the No the sentence i like to keep you guessing um anyhow yes uh this is this is a slightly
controversial thing there was a lot of FUD around it um and I mean yeah this some people would in
some people I think would naturally interpret this as a sort of bearish uh move i mean yeah well
I mean you sell in the native cryptocurrency to which is obviously sell pressure um and there
was a lot of FUD around specifically for Cardono in the sense that many people said okay well
does this signal a weak weak confidence since the Bitcoin max he’s jumped on it and potentially
also minim minimal impact like $100 million won’t meaningfully boost Cardano’s native liquidity
yeah i mean that’s you know that’s not much in in crypto terms it’s not much exactly um and
some said hey look liquidity isn’t the issue it’s potentially users and yield and developer
attraction and Anatoli actually weighed in on our tweet there as well yeah now this was an
interesting response this was from Anatoli obviously uh founder of Salana this is so dumb
project should keep 18 to 36 months of postkill list runway in short-term tea bills but that’s
about it why would anyone want a team to buy and hold Bitcoin for them when they can do it
themselves why pay for all those coconuts fair point um now but there could actually be merit to
this and it’s at least the Cardano community or Charles is thinking about ideas to try and bring
forward and grow the ecosystem yeah so it’s rather that than um many of the other founders and these
older projects and is obviously working on trying to you know keep it relevant and keep it and grow
the ecosystem and it’s not just the Cardano as you mentioned there’s also polka dots dot um yeah
so this was slightly different rather than coming from on high um you know this isn’t Gavin Wood um
saying this this is a this is a community proposal I believe um and this is a proposal to convert
uh 500,000 DOT into TBTC They’re going to do this looking to do this over the course of a year
um using a DCA strategy um and uh yeah again this the the aim of this is to diversify the treasury
to diversify the polka dot treasury for long-term stability and this is kind of and you know I
think it’s been flagged as amidst DOT’s kind of struggling along with all other altcoins yeah
i mean critics are arguing that it could move it could add to the sell pressure and offer little
value and lacks broader community input um so there’s ongoing discussion here and the final
decision will be subject to a community vote um you know are they grasping at straws to remain
relevant uh at least Cardano and Hoskinson did lay out a clear rationale for this whereas u you
know he may not many people may agree yeah i mean I guess just diversifying the treasury is I mean
that’s yeah that that’s good i I guess one of the things that you could say for both proposals is
that if you’re if you’re an altcoin project and it doesn’t matter whether it’s Cardano Polka Dot
or anything else if you’re an altcoin project and you have a large treasury then there certainly
is a case for diversifying that treasury yeah you know because if you’re holding everything in
your native token obviously you know you want you have confidence in the native token but any good
portfolio any good you know treasury should be diversified and this kind of goes back to what
we’re seeing with so many of these companies like obviously a lot of these companies currently
stacking Bitcoin are doing it for you know for for publicity and stuff but the original idea which
Michael Sailor um expanded on was to diversify was to come out of cash which is a depreciating
asset and um you know and have a different uh have a more robust future proofed treasury so I don’t
necessarily think there’s anything wrong with an altcoin project doing this for their treasury the
question is like you know should you be doing it for Bitcoin um should you be doing it for you
know other commodities why why Bitcoin and not gold for instance um yeah I think yeah it’s and as
you say with the Cardano one there’s definitely a good there’s definitely good intentions behind
it you know increasing DeFi liquidity you know expanding the ecosystem that way but as as you
say like is it is it the right question to be addressing yeah indeed i mean I think that there’s
views in terms of like short-term I think it’s bearish for the price especially if they are
going to be selling um to no matter what the asset they’re accumulating if you sell in native
tokens there is sell pressure irrespective um but then in long term if it does you know kickstart
activity in the Cardano ecosystem uh and bring that liquidity forward then that is bullish for
the ecosystem so but actually we’re going to be we’ll be doing a video on this sometime this week
but there are ideas potentially to utilize ADA or any native cryptocurrency of a blockchain and
use that as collateral to borrow to buy Bitcoin uh and borrow to and still without having to sell
it uh that’s another thought that could happen but if I was I would be short-term bearish if I
was thinking with with the trader brain and then long-term potentially bullish depending on what if
they’re actually going to go through with it right now because these are just proposals right yeah
um and yeah so we’ll have to see how it plays out yeah I guess on the one hand there’s the optics
of it which you could say aren’t great because it’s sort of it does signal or at least suggest a
lack of confidence in the native token and I mean you only need to look at the chart for basically
every altcoin to see that that’s you know probably probably not without foundation um but on the
other hand if they are trying to solve you know some of the problems that these these projects
face then I think it’s an innovative way to do it and when you look at some of the you know so many
altcoin projects especially older ones you know ones that came came about around the same time
as Polka Dot and Cardano I mean a lot of them are just doing nothing a lot of them are sitting on
huge Bitcoin treasuries or stable coin treasuries or native token treasuries and doing basically
nothing i mean you might you know you might get the occasional rebrand or or or you know or um
or pitch into a different slow rugged way yeah but if this new slant that’s Cardano or Polka
Dot has taken has got you feeling bullish on these projects then you can accumulate some
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we should also mention that they’ve got the best onchain analysis platform out there with lots of
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as well okay let’s have a look at uh last week’s top gainers the top performing cryptocurrencies
from last week spoiler alert folks this is going to be a very short section because there are
two two literally two two top gainers now obviously this is uh we only focus on the top
100 cryptocurrencies by market cap um but yeah in that top 100 only two saw uh saw gains first
up was Kaya um which I think featured last week and maybe even the week before there is there
just seems to be a lot going on on Kaya at the moment there are integrations there are launches
obviously I have native USDT launched a while ago that seems to have brought in a lot of liquidity
launches of various uh mini apps um and lots of uh uh campaigns i think there’s a Kaio Yap campaign
going on at the moment oh yes yes yes indeed on on um what’s the platform sorry Kaya no not Kaya
the the YAP platform sorry oh um is that line no I forgot now i’ll think about it now okay um but
uh then Kai of course I mean I’m I’m getting my Kayen Kai it’s been a long stream guys so busy
offending whole countries that he’s losing his train of thought uh what’s the what’s the other
big gain from last week say it ain’t so say say it ain’t so um so yeah network metrics going in
the right direction for say it’s been a strong performer last week yeah it seems um they’ve moved
recently i think they moved away been they’ve been fully EVM now they moved away from being a
Cosmos chain entirely so yeah yeah okay so those are and like and and that’s it that’s it for top
gainers that gives you uh an idea of what uh what the last week or so has been like okay let’s
have a look at some of the tweets of the week nice nice little flash card there beautiful okay
first up we have this one from Income Sharks this is the best take I’ve seen in a while um from
anyone um I can understand the panic if you are new to crypto yes but it’s wild seeing veterans
still freak out on red candles after five plus years of seeing every dip recover new alltime
highs being made to be honest I think a lot of them are just engagement farming let’s be real at
least on Twitter man yeah yeah it’s a good take guys look you know if in doubt zoom out this is
all part and parcel of being in crypto just stay strong okay uh now this is uh this is a sad old
story here this is Medi Farooq yeah so this is um Medif i think he used to work at Animoka so
he’s a cryptonative guy um and it’s a sad story we’ve seen this play out so many times before
uh he basically and it’s quite interesting and quite sophisticated he got a friend who he knew or
someone he knew who was a VC reach out and wanted to catch up send him and arranged a meeting send
he shared his Kalini link they said they wanted to use Zoom they got on to Zoom and there was an
issue with the audio they had to he asked they asked him to upgrade it and then they were also
on the Zoom in terms of their images not their images like their video probably like AI generated
crazy and uh obviously the moment he updated Zoom it may have downloaded a Trojan or some sort of
uh virus and um that then stole quote half of my life savings were gone which is so look I mean
anyone can it’s it’s easy enough to fall for such a sophisticated fishing attack in terms of like
if you if someone reaches out to you and they are known to you and you you don’t expect this
but then again still holding half of your life savings on a hot wallet yeah i think that this
is the main thing to take away from this guys is you can never really secure yourself 100% from the
kind of sophisticated so social engineering going on but you can always get a hardware wallet and
take your things offline with cold storage yeah 100% 100% there are a couple of takeaways from
this the first is I one of the things I’m seeing on the timeline at the moment is so many people
so many crypto OGs saying look if you do crypto in any sort of size then you need a separate
device you know a sep a lot of people talking about just go out and buy a cheap laptop and do
you know get proper antivirus and all that on it and just do crypto on that don’t do anything
else this is what a lot of people seem to be doing and I recommend it if you you know if you
have that option um because there’s just so many threats out there the other takeaway is just
Just don’t do don’t do Zoom meetings yeah just a good excuse like I’m sorry i can’t I don’t care
who you are sorry sorry Mom i can’t speak to you today i think you may be an AI scammer so I will
not be joining this meeting trust me it will make your life a whole lot better okay uh next up we
have this one from Hirsh otherwise known as titty respectctor dad titty respect um respect the titty
respectctor yeah well quite I got to show respect to the guy who respects the titty yeah so much to
respect for this tweet not just for the name um but also the fact that yeah so this was obviously
riffing on the news that and we didn’t really talk about this last week this was the new um they had
the big military parade in Washington DC maybe it was last weekend um and uh it was sponsored by
Coinbase it’s such a dystopian imagery man you’ve got this picture of like this M2 Abrams tank
standing in front of this uh you know platform where you’ve got Coinbase to the right Coinbase
branding to the left and right and then you’ve also when they when the announcer is talking about
giving a history about the US Army back from World War I World War II take and then they marching and
then he says we interrupt this to bring you a word from our sponsor Coinbase it’s like this is the
Could you even imagine like a year ago go back a year ago and say this is what you would be seeing
on the Washington Mall yeah i just I just I don’t get that vibe from Brian Armstrong i wonder if he
I mean he must have signed it off it’s kind of a big deal my thing is I think they’re trying to be
super based and kind of like went a bit too far kind of like the Salano one from last like a few
months ago you remember that one although to be fair if the if the goal of a marketing campaign is
to get people talking about it yeah I mean here we are and I mean look at the shape of that B2 bomber
that is absolutely right you could get so many sponsors man you know this is this is the new this
is the new paradigm ftx is missed out man yeah well probably just as well probably just as well
for the US Air Force I think um okay so a great one from Hirsh there uh and we also have this one
from Poseidon officially not a multi-millionaire anymore thank you Ethereum yeah and he’s been
updating this regularly uh so it’s a a live read in terms of how Ethereum is doing depending
on whether Poseidon is a crypto millionaire or not and he was back in May when Ethereum rallied back
but he is unfortunately not anymore yes well I mean that’s all part and parcel of being in crypto
um okay coins to watch what are we looking at this week 26th of June uh now Blast do you recall Blast
blast yes what a blast what a blast blast from the past uh so Blast is that well well big well-known
Ethereum layer 2 that was a big in about two years ago which I think everyone seems to have forgotten
about um it has a 10.5 billion token unlock which is approximately 35.36% of the circulating supply
so that’s a massive unlock coming so as if things couldn’t get any worse for the Blast token holders
you got a massive unlock coming ouch okay uh next up we have uh XRP okay so this is the launch of
the XRP EVM side chain now um I’m not sure it’s definitely supposed to happen this week but it
is happening in Q2 q2 and it potentially could be around in ETHC where they announce it at ETHC
as given that it’s a EVM side chain so keep your eyes out keep your eyes peeled for that so that
could get announced at ETCC in Paris assuming uh that the EVM compatible side chain doesn’t
get stolen on the way to the conference of course bridge is not secure um then on the 30th of
June guy there’s some really big news from coming from Heptos is this is the fungi fungi assets
migration can you believe it gosh no why is no one talking about this i don’t understand why is
everyone talking about the war in the Middle East they clearly missed the news that the all tokens
will automigrate coin v1 to the new fungal asset standard starting with a fantastic world has
changed size seismic shifts coming absolutely absolutely i’m I’m pleased to hear it i’m here
all day for it okay and uh some dates for the diary next week now we’ve got more hot fed
action exactly coming your way hotfed action it sounds Wednesday so this is Can you explain
this Nick a potential meeting on SLR exam yeah to the supplementary leverage ratio there is a
potential meeting that could take place where they decide to to loosen it loosen it and bring it
down which could potentially mean the banks could lend more create money out of thin air and it’s
stealth QE in other words is it a stealth QE so that could be potentially good for liquidity in
the next few weeks mhm then on the 26th we’ve got initial jobless claims coming in uh the previous
was 245K and 248K is expected okay and then on the 27th of June it’s a big day because we’ve got the
personal consumption expenditures index or the PCE inflation measure which is of course the Fed’s
preferred inflation measure and um the headline number uh year is 2.3% expected versus 2.1%
previous and then the core yearon-year um number is 2.6% expected versus 2.5% previous so a slight
increase they expected gosh okay so expecting a slight tick up in inflation numbers so we shall
see keep an eye on that guys well if those if those uh numbers come in lower than expected that
could give us a bit of a bit of a tailwind exactly yeah mind you uh obviously you know it’s going
to be dependent on geopolitical stuff i mean yeah although to be fair this is this these numbers
were before any of this really kicked off but I’m pretty sure Trump will be live tweeting um if that
comes in anywhere yes he’ll be honking on about Powell and interest rates and uh Yeah did you see
what he was saying about Powell last week like he says he invites him to dinner he’s nice and he’s
not he’s nice and he’s bad and he tries everything he calls him stupid he just doesn’t move he He
just doesn’t want to drop interest rates i try everything i nasty to him i’m nice to him i try
to sweet talk him and buy him to dinner he just doesn’t listen i think he just hates me i think
he’s just a dumb guy it’s extraordinary isn’t it it’s extraordinary um brilliant well okay let’s
have a look at what some people have been saying in the comments lots of reaction to the uh to the
Big Labowski one this is one of my Steey Steve that’s just you like your opinion man that’s one
of the best comebacks from any movie someone has a go at the dude and he’s just like “Yeah well you
know that’s just like your opinion man it’s I that that line has got me out of a lot of arguments
in the past.” It saves a lot of time exactly on crypto Twitter that will help a lot yeah yeah
never never underestimate uh the power of that uh of that rejoinder kenny Carneal says “With all
these countries buying Bitcoin who’s selling it?” Yeah that’s interesting it’s not just countries
obviously companies as well um and I and also ETFs uh but in terms of onchain analysis has shown
that a lot of long-term holders and especially long-term whales have been distributing i.e
selling their coins whilst these others have been accumulating which is to be fair if you’ve
been sitting on Bitcoin and massive stacks of Bitcoin since it since you bought it $10,000
$5,000 etc even below because it’s like them especially on the in the 10year price brand I mean
you’d want to take some profits right so they’re taking the chance now and that’s where the coins
are being bought from yeah a lot of a lot of old hands selling out uh or mentions now going back
to what we were saying about uh Cardano and uh its Bitcoin treasury strategy Bitcoin coin OS uh they
need more money for DeFi yes we didn’t mention the integration with excuse me with Bitcoin OS
um but that yes that’s so Bitcoin is figuring pretty heavily in in Cardano’s strategy going
they are going they are working on integrations they’ve worked closely with the Cardano community
with Cardano developers i think we’ve we in touch with the team there from Bitcoin OS as well and
we should uh maybe get them on or something yeah they’re good guys um Brett says Brett there
you are Brett um big movement papa has been telling everyone about Kaya in most market updates
forever yes Erin has been talking about Kaya quite a bit over on he’s out there in Japan so he’s
in touch with the Asian crypto because Kaya is Clayton kaya yeah used to be Clayton and Phoenicia
they merged and to make Kaya um Daniel Mayer says um let me get my daily dose of influencers telling
me why I need to panic sell meanwhile the elite are buying up everything they can are we are we
telling are you is that at us are we telling you to panic cell did I say panic at at any point Nick
did I tell anyone to panic cell i don’t recall you ever mentioning those words guy no daniel
it’s lovely to have you here but you appear to have come to the wrong place um I hope he’s not
French that’s an French surname well I mean if he’s French he’ll have already left so he won’t
even Yeah he’ll left off in disgust um Dre 5110 another Dre you you deserve a wall of fame spot
at some point as well you are a long-term viewer and commenter um this uh talking about uh the Zoom
link scam this is the same scam that Pete of House of Crypto suffered earlier in the year yeah indeed
i I also got the a Bloomberg reporter reaching out to me in the Twitter DMs asking if they wanted to
do an interview uh via Zoom and I um yeah I was taken aback that they Bloomberg would care about
my opinions then I learned it was just a scammer oh Nick that must have been that must have been a
real ego ego deflator for you oh man but honestly you know at the end of the day you just got to be
so skeptical of of all anyone who reaches out to you and the thing is I mean to be honest um they
sometimes they even hack the official accounts i know it’s it’s they hacked the hack they hacked
the defant like official news accounts they hacked New York Post as well i think the New York
Post was hacked as well some time back and they reached out to people so they they can go through
a lot to to engineer this yeah the sophistication of these scumbags is something else so you
you’ve just got to be you’ve just got to be paranoid when in doubt click out yeah um telling
telling crypto people to be paranoid seems seems like stating the obvious but yeah you really
can’t be too paranoid on a side note um we met uh Pete from House of Crypto at um Suie Base Camps
ago yeah really nice chat um okay uh altcoin craze says “I have over 10 wallets my crypto stays
spread out so if one is hit all of my others are safe very good idea very good call yeah 100%
smart idea and not just wallets you should also have separate more than one phone number because
of these SIM swap taxs you should have many multiple email addresses uh and you should stall
your wallets also in different locations yeah yeah very true and in fact uh dramaless Earthbound
says using an email solely for crypto is a good idea as well if your crypto email is in a data
breach change it yeah yes exactly very good in fact I know some people who uh will literally use
a different email for anything they sign up for and then if they receive any you know and then
they can trace any data breach they can and you can also set alias emails for example and you can
just make a small adjustment and change and yeah that’s how they’re able to tell that something’s
been a breach yeah yeah it’s it’s a lot of admin folks but it’s it’s worth it you don’t want to
you don’t want to get scammed um KYC know your crypto that’s that’s smart my Coinbase wallet
got hacked last week lost over 20K ouch not very happy with Coinbase coinbase at the moment
we’ll see how they handle this situation was that a typo or was that a deliberate because it was
deliberate well done sir who knows uh yes let’s hope I hope that gets resolved for you KYC that
is not good to hear um on a completely different note Ace Orura says “When Lambo is dead when B2
bomber?” That is true that is the pinnacle that is the pinnacle of of crypto success 1.6 billion
I think I read for one of those things i mean you know that’s a day’s work that’s days work for
some traders yeah exactly james Win basically James basically is there anywhere I can park my
B2 bomber um okay and uh not sure says I think this is in reply to that earlier comment about
influencers influencers more like angels i have to wear a welding mask when Nick’s on screen i I
don’t get the reference i can’t figure that out i is compliment Are they so dazzled by Nick and his
and his just aura that must be it what about me i have to wear a blindfold when guys on screen just put just put like a partition bit in terms of
the screen just like Okay yeah just just hide just hide this corner maybe I’ll just I’ll just take to
wearing a paper bag shall I melvin mask or unless something else that’s reference to something
who knows heaven rays apparently um fantastic uh um and altcoin craze also says “Uh this is
a new account but I’ve been following you guy for years and I appreciate your take on the
crypto market.” We appreciate that Altcoin Cray i wonder what your name used to be um but yes
well thank you for watching everyone um it’s uh it is a tough time in the market at the moment
but as we said earlier those of us who’ve been around for a while and I know that is a lot of
you guys out there um times like this are for are for riding out yeah exactly they’re not
easy um but they diamond head diamond hands forged in pressure you know absolutely there we
go absolutely um so guys beard game is on point give that man some credit finally it is finally
the recognition I deserve it’s about about time all right everyone thank you for joining us this
week uh we will be back at the same time in the same place next week and let’s hope let’s
hope prices are a bit better let’s hope so guys whether they’re up or down we will be here
to bring you all the latest thanks for watching like clockwork see you guys absolutely see you
soon best live stream in the entire universe guy you look awesome with the wavy
long hair guy would look good in long hair nick you look like Thor good
morning Vietnam nicely done chaps thank you GM from Antarctica sup girls the
Netherlands if it ain’t Dutch it ain’t much what
