Hey, hey, hey, what's up, Bitcoin maximalists?
Welcome to the Bitcoin Street Journal podcast,
the only podcast that tells you the truth about
Bitcoin, money, and why everything else is just
noise. I'm Anna, and oh my God, do I have a show
for you today. Bitcoin is sitting pretty at $115
,000. Strategy just added 390 more Bitcoin to
their already insane stack. And bears, oh. The
bears got absolutely demolished to the tune of
$165 million in liquidations. We're talking institutional
accumulation on steroids. We're talking about
the Federal Reserve about to cut rates. We're
talking about nation states mining Bitcoin with
hydroelectric power. And yes, we're going to
roast some altcoins so hard that Vitalik is going
to feel it from wherever he is. But first, quick
announcement. Head over to the BitcoinStreetJournal
.com and set up your free Noster profile. Stop
giving your data to centralized platforms. Be
sovereign. Be free. And once you're on Noster,
zap me some sats to show this podcast some lightning
network love. All right, let's dive into the
orange ocean of Bitcoin dominance. Buckle up,
because this is going to be a ride. Anna, okay,
let's talk numbers, because numbers don't lie,
and these numbers are beautiful. Bitcoin is currently
trading at $115 ,021. That's up 1 .12 % in the
last 24 hours, which might not sound like much,
but that's a $1 ,276 move on a $115 ,000 asset.
Do the math on your portfolio gains. Our 24 -hour
high, $116 ,032. We kissed that level and we're
consolidating. The low was $113 ,083, giving
us a nice healthy $3 ,000 trading range. That's
not volatility. Folks, that's energy. That's
Bitcoin coiling up for the next move. Market
cap? Oh, just $2 .29 trillion with a T. Let me
say that again because it feels good. $2 .29
trillion. But here's my favorite stat. And this
is the one that makes me smile every single morning
when I check my phone. Bitcoin dominance is at
57 .83%. That's right. While every altcoin influencer
on Twitter is screaming about altseason and the
flippening, Bitcoin is out here controlling nearly
60 % of the entire crypto market cap. The king
doesn't just reign, the king dominates. We've
got 19 ,940 ,681 Bitcoin in circulation right
now. Only 1 ,059 ,319 left to mine before we
hit that beautiful, perfect, unchangeable number,
21 million. Think about that. We're 94 .95 %
of the way through Bitcoin's issuance. The scarcity
is real. The supply shock is coming. Trading
volume in the last 24 hours, $60 .5 billion in
real volume. Not wash trading on some sketchy
exchange that's going to rug pull next month.
This is actual Bitcoin changing hands on real
markets. And for those keeping score at home,
we're only 8 .59 % down from our all -time high
of $126 ,080 that we hit just three weeks ago
on October 6th. Three weeks ago, people. If you
bought Bitcoin when I started this podcast in
2023 at $17 ,000, you're up 576%. Meanwhile,
your friend who bought the Ethereum killer is
down 90 % and asking to borrow money for gas
fees. And I don't mean the car kind. Bitcoin
is inevitable. The numbers prove it. The market
proves it. And we're just getting started. All
right. This is the headline that should make
every CFO in America wake up in a cold sweat.
Strategy has added 390 Bitcoin to their treasury.
Now, before we go any further, let's talk about
strategy. Formerly known as MicroStrategy, before
they went full Bitcoin maximalist and literally
renamed their company to reflect their conviction.
Their total holdings now, 640 ,808 Bitcoin. Do
you understand what that means? Let me break
this down for you. That's 3 .05 % of all Bitcoin
that will ever exist. Not 3 % of what's in circulation.
3 % of the maximum supply. 3 .05 % of 21 million.
At today's price of $115 ,021, Strategy's Bitcoin
holdings are worth $73 .7 billion. That's more
than most Fortune 500 companies' entire market
cap. And they're not selling. They're not trading
it. They're just stacking sats. Michael Saylor,
and let's give credit where credit is due, this
man has conviction. While every other corporate
treasury is holding bonds that are getting inflated
away, while they're holding dollars that lose
purchasing power every single day, Strategy is
converting every dollar they can get their hands
on into the hardest money ever created. They're
using convertible notes. They're doing equity
offerings. They're refinancing debt. whatever
it takes to acquire more Bitcoin. And you know
what? It's working. Here's the game theory that's
absolutely beautiful. Every quarter that goes
by, strategy's Bitcoin holdings become a larger
percentage of their market cap. They're essentially
becoming a Bitcoin ETF with a software company
attached. And now there's serious talk, serious
talk about strategy qualifying for S &P 500 inclusion.
Imagine that. A Bitcoin treasury company in the
S &P 500. You know what that means? Every index
fund, every pension fund, every boomer retirement
account that tracks the S &P 500 would be forced
to buy strategy stock. They'd be getting orange
-pilled through their 401ks without even knowing
it. The race to accumulate Bitcoin at the corporate
level has stalled it. And strategy is lapping
everyone else. They're not just winning. They're
playing a different game entirely. But it's not
just strategy. Let me rapid fire some other institutional
moves. IBM just unveiled Digital Asset Haven,
a full stack platform for institutions to manage
digital assets across 40 plus blockchains. Yes,
they're hedging with blockchain, not Bitcoin.
But you know where this ends. When those 39 other
chains fail, there's only one left standing.
David Beckham -backed Prenetics just raised $46
.8 million to advance their Bitcoin treasury
strategy. Athletes, celebrities, tech companies,
everyone is waking up. Even Japan launched a
Yen Peg stablecoin. And you know what backs those
stablecoins eventually? Bitcoin. All roads lead
to Bitcoin. The corporate FOMO is real. The institutional
FOMO is real. And once it starts, it's unstoppable.
Remember. 21 million Bitcoin, 7 billion people,
thousands of corporations, hundreds of nation
states. You do the math. The supply shock is
inevitable. Strategy just fired another shot
across the bow. Every other company is now asking
themselves, can we afford not to have Bitcoin
on our balance sheet? The answer is no, they
can't. And they're about to find out the hard
way. Inna, let's talk macro. Because what happens
in Washington, D .C. affects every single Satoshi
in your wallet. Here's the headline that has
Wall Street buzzing. There's a 98 .3 % chance
of a 25 basis point rate cut happening in three
days. The Fed meeting is Wednesday, October 29th.
And the market is pricing in a rate cut with
near absolute certainty. According to the CNE
FedWatch tool, it's basically a done deal. Now,
what does this mean for Bitcoin? Let me spell
it out. Rate cuts equal cheaper money. Cheaper
money equals more liquidity. More liquidity equals
asset prices going up. But specifically for Bitcoin,
which is the hardest asset ever created, rate
cuts are rocket fuel. Why? Because when interest
rates go down, holding dollars becomes even more
painful. The opportunity cost of not owning Bitcoin
goes through the roof. We just got news that
Treasury Secretary Scott Besson says the U .S.
has reached a substantial trade framework with
China. This potentially removes the need for
Trump's 100 % tariffs. Translation, more global
trade, more dollars circulating, more money printing,
more debasement, more reasons to own Bitcoin.
And folks, this is happening right as Glassnode
data shows that selling pressure has completely
subsided. Long -term holders are not selling.
The weak hands got shaken out during the recent
pullback. And now the diamond hands are accumulating.
But here's my favorite story of the day. Over
$165 million in short positions got liquidated
in the past four hours. Can we take a moment
of silence for all the bears who thought they
were smart shorting Bitcoin at $113 ,000? Okay,
moment's over. They got wrecked. They got absolutely
destroyed. And you know what? They deserved it.
You don't short the hardest money ever created
right before a Fed rate cut. You don't short
Bitcoin when institutional demand be through
the roof. You don't bet against the honey badger.
And here's the beautiful part. When shorts get
liquidated, they have to buy Bitcoin to cover
their positions. That adds more buying pressure.
It creates a short squeeze. Every bear that gets
liquidated becomes forced buying. It's a cascading
effect. And it's glorious. The fear and greed
index just exited fear territory for the first
time since the crash. We went from extreme fear
to neutral. Sentiment is shifting. Psychology
is changing. You know what's wild? Bitcoin is
doing all of this before the Fed even cuts rates.
Imagine what happens after. Imagine when that
liquidity hits the market. Imagine when everyone
realizes that dollars are melting ice cubes.
Oh, and speaking of no -coiners who got it wrong,
remember Peter Zahan? He went on Joe Rogan's
podcast in 2023 and said Bitcoin would go negative.
He literally predicted Bitcoin's price would
be negative. Bitcoin was at $17 ,000 when he
said that. It's now at $115 ,000. That's a 576
% increase. This is why you don't listen to fiat
economists who think money grows on trees. They
don't understand scarcity. They don't understand
decentralization. They certainly don't understand
Bitcoin. Bitcoin doesn't care about Peter Zahan's
opinion. Bitcoin doesn't care about Jerome Powell's
opinion. Bitcoin doesn't care about anyone's
opinion. Bitcoin just keeps ticking, block by
block, transaction by transaction. Immutable,
unstoppable, inevitable. Let's talk about something
that should make every Bitcoiner smile. Nation
states are stacking Bitcoin. Not companies, countries.
Bhutan's state investment arm, Druke Holding
and Investments, just moved 517 Bitcoin worth
$59 million to new wallets. Now this isn't a
sale. This is wallet management. They're probably
upgrading security, rotating wallets, doing proper
custody procedures. But here's what matters.
Bhutan has been mining Bitcoin using their hydroelectric
power. They're literally converting waterfalls
into digital gold. They're taking renewable energy
that would otherwise go unused and turning it
into the hardest money on earth. This is a sovereign
wealth fund. This is a country's treasury. El
Salvador started the trend, but Bhutan's been
quietly stacking in the background. And you know
what this means? The nation state race has begun.
Once one country starts stacking, every country
has to follow or risk getting left behind. The
game theory is beautiful and brutal. The first
countries to adopt Bitcoin get the most benefit.
They buy at lower prices. They secure larger
percentages of the total supply. The last countries
to adopt, they pay premium prices for scraps.
They get orange -pilled the hard way. Meanwhile,
the Bitcoin network just keeps getting stronger.
Hash rate is at all -time highs. Mining security
is at all -time highs. The network has never
been more secure. And here's some good news for
everyone worried about Mt. Gox selling pressure.
They've extended the creditor repayment deadline
to October 31, 2026. That's another year without
that FUD hanging over the market. And honestly,
most of those creditors are probably going to
hodl anyway. They've waited 12 years. You think
they're selling at 115K when Bitcoin's going
to 500K plus? If you've held Bitcoin since 2013,
you're not a weak hand. You're diamond forged.
You're orange pilled to your core. The infrastructure
is being built. The adoption is happening. The
network is stronger than ever. And we're still
early. Alright. It's time for my favorite segment,
the segment where we take out the trash, the
segment where we remind everyone why Bitcoin
is the only crypto that matters. Ladies and gentlemen,
it's altcoin roasting time. First up, Zcash.
Oh boy, Zcash. So Zcash surged 30 % in the last
24 hours after Arthur Hayes. Yes, the former
BitMEX CEO who got in trouble with regulators
predicted the token will reach $10 ,000. Zcash
is currently at $40. So Arthur thinks it's going
to 250x. That's his prediction. Let me tell you
something about privacy coins. They're either
useless or they're illegal. Pick your poison.
Bitcoin already has privacy solutions. Lightning
Network, Coinjoins, Taproot. You don't need some
centralized privacy coin that's going to get
delisted from every exchange. And here's the
kicker. Zcash because of founder's tax. 20 %
of all mining rewards go to the founders. That's
not decentralized. That's a company paying themselves.
That's a pre -mined scam with extra steps. Satoshi
mined Bitcoin just like everyone else. And then...
Disappear. No founders tax, no pre -mine, no
CEO calling the shots. Next victim, Ethereum.
Tom Lee from Fundstrat says ETH remains in a
super cycle. He says fundamentals are now leading
price, citing surging stablecoin demand and ETH
transactions hitting all -time highs. Mocking
voice. Supercycle. Ultra mega supercycle. Everything's
a cycle with these guys. You know why ETH transactions
are hitting all -time highs? Gas fees. People
are paying $50 to move $100. That's not adoption.
That's extortion. And stablecoin demand? That's
people trying to exit. They're going from ETH
into USDC so they can escape the sinking ship.
Let's talk about Ethereum's fundamentals. They've
changed their monetary policy 17 times. Is it
proof of work? No, wait, proof of stake. Is it
deflationary? No, wait, inflationary. Actually,
sometimes it's deflationary depending on how
busy the network is. That's not sound money.
That's a company making it up as they go along.
And the Ethereum Foundation sells ETH at every
market top. They're literally dumping on retail
investors. BNB just jumped 3 % after a $1 .69
billion token burn. Oh, great. A centralized
exchange token that burns supply to artificially
pump the price. That's not decentralization.
That's stock buybacks with worse PR. If Binance
gets hacked tomorrow, BNB goes to zero. That's
not an investment. That's a casino chip. Rapid
Fire Roasting. XRP. Still fighting the SEC, still
somehow in the top 10. It's the zombie coin that
refuses to die. Aptos, the Solana killer. Down
90 % from all -time high. Turns out you can't
kill Solana when you're both equally centralized.
Filecoin, a storage coin that nobody uses for
storage. Classic. And my personal favorite, Japan's
new yen -pegged stablecoin. A stablecoin pegged
to a currency with negative interest rates. A
stable coin pegged to a currency being printed
into oblivion. It's like being the best player
on the worst team. Here's the bottom line. Bitcoin
is decentralized, permissionless, and has a fixed
supply of 21 million. Every altcoin is either
a solution looking for a problem, a centralized
database pretending to be crypto, a security
token trying to avoid the SEC, a pump and dump
scheme, or all of the above. Bitcoin doesn't
need to pivot. Bitcoin doesn't need a roadmap.
Bitcoin doesn't have a CEO. Bitcoin is done.
It's finished. It works. It's been working for
16 years. It's like comparing gold to pocket
lint. Sure, pocket lint is lighter, but nobody's
using it to store wealth. Bitcoin is digital
gold. Everything else is digital garbage. Okay,
let's slow down and get educational for a minute.
Because Bitcoin isn't just about price. It's
about understanding why Bitcoin is revolutionary.
Today's lesson, why Bitcoin's fixed supply makes
it the hardest money ever created. Throughout
all of human history, every form of money has
been inflated. Gold? They discovered new mines.
They improved extraction technology. The supply
increased. Fiat currency? Don't even get me started.
They just print more. They press a button and
trillions appear. But Bitcoin? 21 million. That's
it. Forever. Can't change it. Won't change it.
Mathematically enforced by the protocol. Every
10 minutes, a new block is mined. Currently,
each block rewards the miner with 3 .125 Bitcoin.
In 2028, mark your calendars, that reward gets
cut in half to 1 .5625 Bitcoin. This is called
the halving. The halving happens every 210 ,000
blocks roughly every four years. It's predictable.
It's programmed. It's inevitable. This creates
scarcity, and scarcity creates value. We're mining
fewer Bitcoin every day. But more people want
it. More companies want it. More countries want
it. That's Economics 101, Supply and Demand.
The U .S. government printed trillions during
COVID. Your dollars are worth less every single
day. But Bitcoin, your Bitcoin is worth more
because it's a fixed percentage of the total
supply. If you own one Bitcoin, you own one out
of 21 million. That ratio never changes. That's
power. That's wealth preservation. And remember,
not your keys. Not your Bitcoin. If your Bitcoin
is on an exchange, you don't own it. They own
it. And they can freeze it. They can lend it
out. They can go bankrupt. Get a hardware wallet.
Ledger. Trezor. Cold card. Move your Bitcoin
to self -custody. Self -custody is financial
sovereignty. It's the whole point of Bitcoin.
Be your own bank. All right, Bitcoin maximalists.
Let's bring this home. What a day. What a week.
What a time to be alive and orange -pilled. Bitcoin
at 115 ,000. Strategy stacking 390 more Bitcoin.
Bears getting liquidated. The Fed about to cut
rates. Nation states mining with hydroelectric
power. The future is orange. Quick final numbers.
Bitcoin holding strong at $115 ,021. Up 1 .12
% in 24 hours. Market cap 2 .29 trillion. Dominance
57 .83%. The king reigns. Before I let you go,
here's what you need to do right now. Number
one, go to the bitcoinstreetjournal .com and
set up your free Nostra profile. Stop using centralized
social media. Be sovereign. Number two, if this
episode added value to your life, zap me some
sats on lightning. No ads, no sponsors, just
you supporting real Bitcoin content. Number three,
move your Bitcoin to self -custody. Not your
keys, not your Bitcoin. Get it off the exchanges.
Be your own bank. Number four, share this episode.
Orange pill someone today, your no -coiner friend.
Your altcoin holding cousin. Your boomer parents
who still think Bitcoin is fake money. Bitcoin
is inevitable. The game theory is playing out
in real time. You can either be part of the revolution
or you can watch from the sidelines. Stay humble.
Stack stats. Think long term. And remember, The
best time to buy Bitcoin was 10 years ago. The
second best time is right now. This has been
the Bitcoin Street Journal podcast. I'm Anna,
and I'll see you on the next block.