What's up, Bitcoin believers? This is Anna, and
you're tuned in to the Bitcoin Street Journal
podcast, the only crypto podcast that matters,
because let's be honest, there's only one cryptocurrency
that matters. And folks, today is not just any
day. Today's Halloween. But more importantly,
way more importantly, today marks 17 years since
Satoshi Nakamoto dropped the most revolutionary
nine -page document in financial history on an
unsuspecting world. That's right, people. It's
Bitcoin White Paper Day 2025, and I am absolutely
buzzing with orange -pilled energy right now.
We're going to celebrate this anniversary in
style, talking institutional adoption that would
make 2020 Bitcoiners cry tears of joy, regulatory
victories that seemed impossible just two years
ago, and of course, we'll roast some altcoins
because, well, it's what we do. Coming up in
today's episode, BlackRock's $100 billion Bitcoin
ETF flex. Trump's strategic Bitcoin reserve.
Yes, you heard that right. The U .S. government
is hodling. Why October 31st is literally the
perfect day for Bitcoin to be born. And why every
single altcoin is still just a distraction from
the hardest money humanity has ever known. But
first, before we dive into this birthday celebration.
Head over to the BitcoinStreetJournal .com and
set up your free Nostra profile. Because if you're
not on Nostra, you're still letting Jack Dorsey's
former company control your speech. Get censorship
resistant. Get sovereign. Get on Nostra. All
right, let's get into it. Market update segment.
Okay, let's talk numbers because Bitcoin doesn't
care about your feelings. It just keeps producing
blocks every 10 minutes like absolute clockwork.
As I'm recording this on Halloween 2025. Bitcoin
is trading at $107 ,529. That's $107 ,529 per
Bitcoin. Now, I know what you're thinking. Anna,
that's down from the $126 ,000 all -time high
we saw earlier this month. And you're absolutely
right. We had a spicy 13 % correction mid -October
that liquidated $19 billion, billion with a B,
in over -leveraged positions. But here's what
matters. Bitcoin is still up 1 .14 % for October,
maintaining that uptober tradition. And historically,
folks, October has been green for Bitcoin 10
out of the last 12 years, with average returns
of 27%. October is Bitcoin's power month, and
we're closing it out with a W. Current market
cap? $2 .1 trillion. That's not a typo. Trillion.
Bitcoin is literally worth more than most countries'
GDP. Bitcoin dominance is sitting pretty at around
57 .4%, which has actually come down a bit as
some casino chips, I mean altcoins, have been
pumping. But don't worry, we'll get to those
pretenders in a minute. The 24 -hour trading
volume is absolutely crushing it. And here's
the thing that gets me fired up. Despite Federal
Reserve Chair Jerome Powell... basically telling
us that interest rate cuts are done for 2025,
despite Trump threatening 100 % tariffs on China.
Despite every headline trying to spread FUD,
Bitcoin is still over 100K. Do you understand
what that means? The macro headwinds that would
have cradled Bitcoin back in 2017 or 2020 are
now just minor turbulence. Bitcoin has matured,
the honey badger has evolved, and it doesn't
care about your central bank policies anymore.
And speaking of not caring, let me give you altcoiners
the courtesy update. Ethereum is down. Solana
is doing whatever Solana does. And the other
20 ,000 shitcoins are still pretending they have
a purpose. They don't. Moving on. Main segment
one, 17 years of Bitcoin, the Halloween revolution.
All right, let's get into the main event. 17
years ago today, October 31st, 2008. At exactly
2 .10 p .m. GMT, someone using the pseudonym
Satoshi Nakamoto posted a nine -page PDF to an
obscure cryptography mailing list called Metstout.
The title? Bitcoin, a peer -to -peer electronic
cash system. And the world has never been the
same. Now, here's what blows my mind about the
timing. This white paper dropped just two weeks
after the U .S. government announced a $700 billion
bank bailout package. The traditional financial
system was literally collapsing under the weight
of its own corruption and stupidity. And Satoshi
was like, hey, I've got a better idea. What if
we had money that nobody can print, nobody can
censor, and nobody can control? Genius. Absolute
genius. And can we talk about the Halloween timing
for a second? Because this is either the most
epic coincidence in history or Satoshi was playing
4D chess with symbolism. October 31st, Halloween,
has historically been a day of reformation. Martin
Luther nailed his 95 theses to a church door
on Halloween in 1517, sparking the Protestant
Reformation that changed Europe forever. And
in 2008. Satoshi Nakamoto published the Bitcoin
white paper on Halloween, sparking the monetary
reformation that's changing the world. Some people
think Satoshi chose this date because it's right
before U .S. Election Day. And guess what? Bitcoin's
four -year halving cycle perfectly aligns with
presidential elections. Could be intentional,
could be cosmic alignment. Either way, it's absolutely
perfect. And think about what Bitcoin has achieved
in just 17 years. Never been hacked at the protocol
level. Never. 99 .99 % uptime. It's more reliable
than your bank's website. Processed hundreds
of millions of transactions. Secured trillions
of dollars in value. Operated 24 -7, 365, without
a CEO, without a headquarters, without asking
anyone for permission. Meanwhile, how many altcoins
from 2008 are still around? Zero. How many from
2015? Maybe three that anyone cares about. And
two of those are centralized garbage. Bitcoin
is the only cryptocurrency that has stood the
test of time. And it's because Bitcoin is the
only cryptocurrency that's actually decentralized,
actually scarce, and actually secure. 21 million
Bitcoin. That's it. No founder can mint more.
No foundation can vote to increase supply. No
venture capitalists can dump on you after they
unlock their tokens. 21 million. Forever. Hard
money. And get this. Satoshi's original wallet,
which has never been touched since 2010, contains
an estimated 1 .1 million Bitcoin. At July's
peak of $123 ,000 per Bitcoin, that's $135 billion.
Satoshi Nakamoto is potentially one of the world's
wealthiest people, and we don't even know who
they are. That is the ultimate proof of work.
Build the most important financial protocol in
human history. Become a billionaire and walk
away. No book tours, no conference speeches,
no Satoshi coin, ICO. Just pure, beautiful, anonymous
genius. Compare that to every single altcoin
founder who won't shut up on Twitter, who does
interviews every week, who needs to be the face
of their blockchain. Pathetic. They're all wannabe
Steve Jobs when Satoshi was more like... like
the Banksy of money, anonymous, revolutionary,
and impossible to stop. Main segment two, institutional
invasion, the Black Rock tsunami. Okay, now let's
talk about what's been happening in 2025. Because
honestly, if you had told me five years ago that
we'd be where we are today, I would have said
you were smoking hopium. But here we are, and
the institutions are here. BlackRock's iShares
Bitcoin Trust, ticker IBIT, has accumulated nearly
$100 billion in assets under management. Let
me say that again. BlackRock, the world's largest
asset manager, has $98 billion in a single Bitcoin
ETF. This is the most successful ETF launch in
history, and it's not even two years old. Total
Bitcoin ETF inflows in 2025? $6 .96 billion.
Record daily inflows hit $1 .38 billion right
after Trump won the election. The suits on Wall
Street are falling over themselves to get Bitcoin
exposure. But wait, there's more. Exchange -traded
products now hold over $175 billion in on -chain
crypto holdings, up 169 % from just a year ago.
And combined with digital asset treasury companies
like MicroStrategy, institutions now hold approximately
10 % of Bitcoin's entire supply. Let that sink
in. 10 % of all Bitcoin that will ever exist
is now in institutional hands. And they're not
day trading it, folks. They're hodling because
they finally figured out what we've been screaming
from the rooftops for years. Bitcoin is the hardest
money ever created. And the corporate treasuries,
oh my God. The corporate treasuries, MicroStrategy,
our lord and savior of corporate Bitcoin strategy,
continues to stack sats like it's their job.
Because it is their job. Oracle has allocated
5 % of its treasury to Bitcoin. That's one of
the world's largest software companies saying,
yeah, we'd rather hold Bitcoin than dollars.
Brutal for the dollar, amazing for Bitcoin. Ford
Motor Company, Ford, became the first major automotive
manufacturer to add Bitcoin to its balance sheet.
We're talking about a company founded in 1903
that helped build America's industrial might,
and they're buying Bitcoin. Prudential Financial
dropped $1 .2 billion into Bitcoin as a long
-term reserve strategy. Insurance companies,
the most conservative money managers on Earth,
are buying Bitcoin. Do you understand what this
means? The smartest money managers, the biggest
institutions, the most risk -averse financial
advisors, they're all coming to the same conclusion.
Bitcoin is inevitable. And here's the kicker.
Analyst estimates suggest that a modest 2 -3
% crypto allocation across institutional investment
pools could generate $3 -4 trillion in Bitcoin
demand. Bitcoin's total market cap right now
is $2 .1 trillion. So we're talking about potential
demand that's twice the current market cap. Supply
and demand, baby. Economics 101. And Bitcoin
supply is capped at 21 million. The supply squeeze
is real. It's happening and it's beautiful. Over
the next six years, miners will produce about
700 ,000 new Bitcoin worth maybe 77 billion dollars
at current prices. Meanwhile, institutional demand
could hit three trillion dollars in the same
period. That's a 40 to one supply demand imbalance.
Forty to one. This isn't speculation. This is
math. This is the most predictable supply shock
in financial history. And it's unfolding in slow
motion right in front of us. But sure, go ahead
and buy some centralized proof of stake coin
that prints new tokens every day and hope it
works out. I'll be over here with my Bitcoin,
which has a supply schedule written in code that
nobody can change. Main segment three, the Trump
effect. Regulatory revolution. Now, I got to
talk about something that nobody, and I mean
nobody, predicted would happen this fast. Complete
regulatory clarity in the United States. After
years of Gary Gensler and the SEC playing whack
-a -mole with crypto companies. After Operation
Chokepoint 2 .0 trying to debank Bitcoin businesses.
After watching entrepreneurs flee to Singapore
and Dubai. The Trump administration came in and
flipped the script. On January 23rd, 2025, President
Trump signed an executive order that basically
said we support the responsible growth of digital
assets. Not we tolerate them. Not we'll regulate
them to death. Support. He created a president's
working group on digital asset markets and appointed
David Sachs as the crypto and AI czar. That's
an actual government position now. We have a
Bitcoin czar. But here's where it gets really
good. On March 6, 2025, Trump signed an executive
order establishing a strategic Bitcoin reserve.
The United States government has a Bitcoin reserve,
not a dollar reserve backed by Bitcoin, a Bitcoin
reserve. The U .S. government holds over 207
,000 Bitcoin, worth approximately $17 billion
that was seized through law enforcement. And
instead of selling it like they used to, They're
hodling it as a strategic asset, just like gold
or oil. The executive order literally says Bitcoin
is the original cryptocurrency. And now we've
got to talk about something very important. The
Bitcoin protocol permanently caps the total supply
of Bitcoin at 21 million coins and has never
been hacked. As a result of its scarcity and
security. Bitcoin is often referred to as digital
gold. The U .S. government is calling Bitcoin
digital gold in official documents. We won. We
actually won. The Bitcoin maximalists were right,
and now the government is admitting it. And it
keeps getting better. In July, Trump signed the
Genius Act into law, creating the first federal
regulatory framework for stablecoins, requiring
100 % reserve backing with liquid assets. This
is huge for Bitcoin because it legitimizes the
entire crypto infrastructure without compromising
on principles. The SEC under Trump has done a
complete 180. They created a crypto task force,
not an enforcement division, a task force focused
on fostering innovation and protecting investors.
They rescinded Staff Accounting Bulletin 121,
which was basically forcing banks to treat customer
Bitcoin like a liability on their balance sheets.
That rule was killing institutional adoption.
And it's gone. Paul Atkins, a crypto -friendly
former SEC commissioner, is the new chair. The
days of regulation by enforcement are over. Now,
I know some hardcore Bitcoin maxis are like,
Anna, why are you celebrating government involvement?
Bitcoin was supposed to be separate from government.
And look, I hear you. Bitcoin doesn't need government
approval to work. It's been working perfectly
for 17 years without asking permission. But here's
the thing. Regulatory clarity removes barriers
to adoption. It means your uncle can buy Bitcoin
in his 401k. It means pension funds can allocate
without worrying about their fiduciary duty.
It means banks can custody Bitcoin without regulatory
uncertainty. Bitcoin's protocol doesn't change
whether governments love it or hate it. But human
behavior does change when the government stops
actively fighting Bitcoin. And let's be real.
The fact that the U .S. government went from
Bitcoin is for criminals to Bitcoin is a strategic
reserve asset in less than 10 years is the most
bullish validation imaginable. Satoshi built
Bitcoin to be unstoppable. And it turns out when
you can't stop something, the smart move is to
join it. The honey badger doesn't care if you
like it, but it's pretty hilarious when you finally
admit defeat and start feeding it. Main segment
four, mining, halvings, and hash rate dominance.
All right, let's get technical for a minute,
because the April 2024 Bitcoin halving is still
reshaping the entire mining landscape, and it's
absolutely fascinating. For those who are new
to Bitcoin, welcome. You're early even at 107K.
The halving is a pre -programmed event that happens
every 210 ,000 blocks, roughly every four years,
where the reward miners get for mining a block
gets cut in half. In April 2024, the reward went
from 6 .25 Bitcoin per block down to 3 .125 Bitcoin.
That means the daily supply of new Bitcoin dropped
from about 900 Bitcoin per day to 450. You think
this would crush miners, right? Cut their revenue
in half? Some people predicted mining apocalypse,
hash rate collapse, network security crisis.
And you know what happened? The hash rate hit
all -time highs. As of May 2025, Bitcoin's network
hash rate reached 831 exahashes per second. That's
831 quintillion hashes per second. The network
has never been more secure. What happened is
exactly what Satoshi designed. Inefficient miners
got squeezed out and the most efficient, well
-capitalized miners took their market share.
It's beautiful free market economics playing
out in real time. Hash price, that's the daily
revenue per terahash, dropped from 12 cents in
April 2024 to about 5 cents by April 2025. Network
difficulty hit an all -time high of 123 terahashes.
Mining Bitcoin is harder and less immediately
profitable than ever. And yet, miners are upgrading
their equipment, expanding into regions with
cheap electricity, and investing in the future.
In Oman, miners are getting electricity at 5
to 7 cents per kilowatt hour. In the UAE, some
semi -governmental projects are getting power
at 3 .5 to 4 .5 cents. This is driving innovation
in energy. Bitcoin mining is incentivizing renewable
energy projects, monetizing stranded natural
gas, and making previously uneconomical energy
sources profitable. Bitcoin is literally helping
solve energy problems while securing the most
robust monetary network in human history. Try
getting your proof of stake shitcoin to do that.
And here's the thing about the halving. It's
a forcing function for efficiency. Every four
years, only the strongest miners survive. That's
not a bug. That's a feature. Compare that to
Ethereum, which just decided to change from proof
of work to proof of stake because miners were
using too much energy. They changed the rules
mid -game. That's not decentralized. That's a
corporate board meeting. Bitcoin's rules were
set by Satoshi in 2008, and they will not change.
The halving schedule is immutable. The 21 million
cap is immutable. That's what makes Bitcoin hard
money. The next halving is in 2028, just as institutional
FOMO is reaching peak intensity. Imagine pension
funds finally getting approval to allocate. Corporations
rushing to beat each other to Bitcoin. retail
FOMO from six -figure prices, and boom, the supply
of new Bitcoin gets cut in half again. It's like
watching a slow -motion supply shock. We know
it's coming. We know exactly when it's coming.
And it's going to be glorious. Segment five,
altcoin roast, the shitcoin circus. Okay, okay,
okay, it's everyone's favorite segment. Time
to roast the altcoins. Because while Bitcoin
is out here building a $2 trillion market cap
and getting nation -state adoption, the altcoin
casinos are, well, they're doing altcoin things.
Let's start with Ethereum. Ah, yes, the world
computer that costs $50 to send a transaction
when there's any actual usage. ETH is down again
while Bitcoin is holding strong. Shocking. And
don't even get me started on their roadmap. Every
year, its next year will scale. Meanwhile, Bitcoin's
Lightning Network is processing millions of transactions
for fractions of a penny. But sure, keep waiting
for sharding or whatever buzzword they're using
this quarter. Oh, and remember when Ethereum
was proof of work and people mined it with GPUs?
Yeah, they just changed that. They went to proof
of stake, which is basically whoever holds the
most coins controls the network. That's not decentralization.
That's plutocracy with extra steps. Vitalik and
his buddies can literally decide to change Ethereum's
monetary policy whenever they want. They've already
done it multiple times. Ultrasound money, they
call it. You know what I call it? Centralized
garbage. Bitcoin's monetary policy has been the
same since 2008. 21 million. No founders, no
foundation, no changing the rules. That's hard
money. Solana. Oh, Solana, the blockchain that
shuts down more often than a government office
during a snowstorm. Fast and cheap transactions,
they said. Yeah, until the network crashes again
and you can't trade anything. But hey, at least
the venture capitalists who got in at a penny
per token made their money before dumping on
retail. That's the real innovation in Solana.
Innovative ways to separate fools from their
money. XRP, still fighting the SEC. Oh wait,
now they're not. But they were, but maybe they
weren't. Nobody knows. It's centralized banker
point trying to cosplay as a cryptocurrency.
Ripple Labs holds billions of XRP that they can
dump on the market whenever they want. Their
entire value proposition is banks might use this.
You know what banks are actually using? Bitcoin.
The U .S. government has a strategic Bitcoin
reserve, not a strategic XRP reserve. Cardano,
still coming soon after how many years? And don't
even get me started on the thousands of other
tokens. Every week there's a new Ethereum killer.
Newsflash. Ethereum doesn't need a killer. It's
committing suicide by complexity. Meme coins,
dog coins, cat coins, food coins, scam coins,
they're all the same. Temporary casinos that
make founders rich and leave retail holding bags.
Here's the thing altcoiners don't understand.
Bitcoin already solved the problem. We have decentralized
censorship resistant. Provably scarce money.
That was the hard part. That's what Satoshi spent
years developing. Everything else, smart contracts,
DeFi, Web3, those are all solutions looking for
problems. And even when they do solve a real
problem, they do it on centralized networks that
can be shut down, censored, or changed by founders.
Bitcoin is the only cryptocurrency that's actually
cryptocurrency. Everything else is just a company
with a token trying to avoid securities laws.
You want programmable money? Build on Bitcoin,
Lightning Network, RGB, Taproot, all the functionality,
none of the centralization. There's Bitcoin and
then there's everything else. And everything
else is just noise designed to distract you from
accumulating the hardest, soundest, most decentralized
money in human history. But hey, if you want
to gamble on which centralized database coin
is going to pump next, be my guest. I'll be over
here with my Bitcoin. Watching the price go up
while the protocol keeps producing blocks every
10 minutes like it has for 17 years. Closing
segment, the road ahead. All right, Bitcoiners,
we've covered a lot in this White Paper Day special.
Let's bring it home. 17 years ago, Satoshi Nakamoto
gave the world a gift on Halloween, the gift
of freedom. The freedom to transact without permission,
to save without inflation, to build wealth without
trusting corrupt institutions. And what has Bitcoin
done with those 17 years? It's become inevitable.
BlackRock is hodling $100 billion. The U .S.
government is hodling 207 ,000 Bitcoin. Oracle,
Ford, Prudential, they're all hodling. Pension
funds are preparing to allocate. 401ks are adding
Bitcoin options. The supply squeeze is real.
Demand is exponential. Supply is algorithmically
constrained. We're watching the most predictable
supply shock in financial history. Quick price
check before we go. Bitcoin is at $107 ,529 as
I'm recording this. October closed green like
it almost always does. Q4 is historically Bitcoin's
best quarter. We hit $126 ,000 earlier this month,
and analysts are projecting $130 ,000 to $135
,000 by end of year. But here's what I want you
to remember. The price doesn't matter if you
don't control your keys. Say it with me. Not
your keys. Not your Bitcoin. Get your Bitcoin
off exchanges. Get a hardware wallet. Learn to
self -custody. Because at the end of the day,
Bitcoin is about sovereignty. It's about being
your own bank. Satoshi didn't build this so you
could trust Coinbase or Binance with your wealth.
Satoshi built this so you could be sovereign.
So here's your homework. One, go to thebitcoinstreetjournal
.com and set up your Nostra profile, censorship
-resistant social media. If you learned something
today, Zap me some sats on lightning. Support
creators who are orange pilling the world. Three,
subscribe to this podcast wherever you're listening.
Four, share this episode with someone who needs
to understand why Bitcoin is inevitable. And
most importantly, keep stacking sats. Dollar
cost average, hodl. And remember, there will
only ever be 21 million Bitcoin the earlier you
start accumulating. The better your position
in the hardest money ever created. It's been
17 years of Bitcoin and we're just getting started.
The next halving is in 2028. The next bull run
is being built right now. The institutional adoption
wave hasn't even peaked yet. Bitcoin is inevitable.
The revolution that started on Halloween 2008
is unstoppable. This is Anna signing off from
the Bitcoin Street Journal podcast. Stay sovereign,
stay humble, and stack sats. See you on the next
block.