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LinkedIn, the place to be, to

1:00

be. Welcome crypto fam to the

1:02

number one daily Bitcoin show.

1:04

Happy Sunday, fun day, Bitcoin above

1:06

66 G's. Make

1:09

some noise for that. In today's show, I'll

1:11

be sharing the latest Bitcoin technical analysis as

1:13

well as the latest live charts. We'll

1:15

also be discussing US Bitcoin ETFs raked

1:18

in $1.1 billion this week. The

1:21

most since mid July. And speaking

1:23

of ETF volume, the US Bitcoin

1:25

ETFs close in on Satoshi's Bitcoin

1:27

stash, literally meaning the ETFs are now

1:30

holding collectively 924,768 BTC. And

1:37

they just getting started. Yeah, remember ETFs just

1:39

went live for the spot Bitcoin ETF back

1:42

in January. It's mind boggling. We'll also

1:44

be discussing FTX creditors are only getting

1:46

10 to 25% of their crypto back. I'd

1:49

be breaking down this later for report as people are

1:51

starting to get paid back. I'll

1:54

also be discussing Michael Saylor's

1:56

epic 99% Bitcoin prediction, stunning.

12:03

Today, family, do you think that will likely

12:05

change anytime soon or do you think the

12:07

video will continue to outpace the Ethereum? Let's

12:10

continue with this ETF. I mean, this is

12:12

actually a wild statistic right here. This

12:15

headline reads, US Bitcoin ETFs closed in

12:17

on Satoshi's Bitcoin Stash holding 924,768 BTZ.

12:22

That's right. January 11th

12:25

of this year, the ETFs

12:28

collectively have as many Bitcoin

12:31

as Satoshi's. Pretty mind-boggling how

12:34

quick they were able to achieve that. This

12:37

handful of ETFs has certainly been busy, say

12:39

that again, since they launched eight months ago.

12:41

Current data shows that the 12 funds now

12:43

hold almost 5% of the total 20 million

12:45

Bitcoin in

12:48

circulation. Damn, amounting to a whopping 924,768 BTZ, valued

12:51

at over $60 billion at today's rates. When

12:59

these funds first hit the market, Grayscale's GBTC

13:01

was sitting on over 620,000 Bitcoin. That's

13:04

right. They were the largest hodler then, but now

13:06

it only holds 220,000 Bitcoin. That

13:09

is a substantial reduction. Yeah,

13:11

I'd say so. With more than 20 billion

13:13

worth of the Bitcoin leaving the Grayscale trust

13:15

likely ending up in the hands of the

13:17

newer spot, Bitcoin ETFs ultimately a transfer in

13:19

wealth from Grayscale to BlackRock. You know what

13:21

I mean? Check it out right

13:23

here. The amount of Bitcoin held by each

13:25

fund, BlackRock clearly leading the race. The largest

13:27

asset manager in the world, followed by Grayscale

13:29

still got a modest, what, 220,000, followed

13:33

by Fidelity, who has self-custody in

13:35

their bidi. Then we have ARKB,

13:38

BitB, Minitrust, Grayscale, Huddle Van Neck,

13:40

Valkyrie, Invesco, Franklin Templeton, Wisdom Tree,

13:42

and Hashdex barely a blip on

13:44

the radar. BlackRock's ETFI bid

13:46

now boasts a hefty 365,000 bidis. They

13:50

outpaced MicroStrategy, and MicroStrategy got involved in

13:53

2020, first publicly traded company

13:56

to put the bidi on the balance sheet. They're

13:58

making Michael Saylor a little bit more. look bad. What

14:00

are you gonna do about that Michael? I need you

14:02

to perform here. You're the employee of the month for

14:05

Christ's sake. Anyways, making up a solid 40%

14:07

of the total 924,768 biddies held by the 12 funds. That means Ibit

14:09

alone accounts

14:12

for almost 2% of all the bitcoins currently in

14:14

circulation. I'm gonna repeat that. Ibit,

14:17

the BlackRock Bitcoin ETF holds almost

14:19

2% of all the Bitcoin currently

14:21

in circulation. Damn. Grayscale's GBCC, while

14:23

still significant, holds the second largest

14:25

position amongst the ETFs with 220,800

14:29

Bitcoin in the reserves. The numbers revealed

14:31

that GBTC commands almost 24% of

14:33

all the Bitcoin held by the funds, which translates to 1%

14:36

of the almost 20 million

14:38

bitcoins circulating globally. Hot on Grayscale's heels is

14:40

Fidelity. FBTC sit on 178,334 BTC. I mean

14:42

look at the piece of the pie. This

14:49

is Bitcoin holding size by fun. Ibit

14:51

clearly. Almost half the pizza pie for

14:53

Christ's sake. And then we got Grayscale

14:56

and Fidelity, which is FBTC. This

14:59

gives FBTC 19% of the

15:01

total supply held by the 12 funds and 0.9% of

15:03

the circulating Bitcoin supply. The

15:05

remaining ETFs each hold under 50,000

15:08

BTC. Leading the

15:10

pack is ARK. Shout out Cathie Wood and 21 shares

15:12

ARKB fund with 47,599 biddies, followed by the Bitwise Bitbee

15:14

at 39,588 biddies. And not far behind

15:21

is Grayscale's mini Bitcoin Trust, which currently

15:23

manages 33,752 biddies. The

15:26

other ETFs hold even smaller Bitcoin reserves. We

15:28

have VENEX HODL leading this group with 11,482

15:31

biddies, followed by Valkyries BRRR at 8,982 biddies.

15:37

Invesco and Galaxy BTCO come

15:39

in at 7,900, while Franklin

15:42

Templeton EasyBC manages 7,100. Lower

15:45

on the list we have WisdomTree holding 3,700 and Hashdex

15:47

DeFi wrapping things

15:50

up with 148 BTC in its

15:52

portfolio. Now it's widely believed that

15:54

Satoshi Nakamoto mined 1 million of

15:56

the Bitcoin and with 924,000 BTC.

16:00

$5,768 Bitcoin already in the funds.

16:02

They're closing in on this legendary figure.

16:04

Since January 11th, Grayscale's GBTC shed around

16:07

400,000 Bitcoin, subtracting that from the

16:09

total, at least $524,768 BTC. Now,

16:14

if these funds traded every day, which they don't, over

16:16

the eight-month span, they'd be accumulating at a rate of

16:18

$65,596 BTC per month or 2,154 Bitcoin daily. At this

16:20

pace, the

16:25

1 million Bitcoin milestone could be hidden

16:27

over a month, roughly 34 days. Even

16:30

with potential fluctuations in the trading pace

16:32

and inflows, outflows, there's still a strong

16:34

chance they'll cross that threshold in

16:37

2020 flow. I mean,

16:39

as pointed out here, check it. How much

16:41

Bitcoin do you have in your portfolio? BlackRock

16:43

Bitcoin Holdings now have over $25 billion after

16:45

its latest

16:48

buying streak. Approximately 2% of the

16:50

total available Bitcoin or almost half

16:52

the amount that Satoshi reportedly has.

16:54

One company, BlackRock, some would say

16:56

this company secretly is controlling the

16:58

world. Next story of the day,

17:02

we discussed the ETFs crushing it, BlackRock

17:04

taking over the world like Pinky and

17:06

the Brain. Now let's discuss

17:08

the FTX payback. Headline

17:10

here reads, FTX creditors are only getting

17:13

10% to 25% of their crypto back.

17:15

Not surprised! And

17:18

ironic, FTT tokens up 50% today.

17:22

Yeah, the scam coin that Bankman Freed created,

17:24

it's up 50% today. Here we go. FTX

17:28

creditors will only get 10% to 25% of their

17:30

crypto back according to a newly

17:32

revised bankruptcy document shared by FTX

17:34

creditor, Sunil Kavoori. The FTX creditor

17:36

activists explain creditors would receive reimbursements

17:38

according to the petition date when

17:40

the crypto prices were much lower

17:42

than today. To put this

17:45

into perspective, the price of Bitcoin was approximately $16,000

17:47

when the legal petition

17:49

was filed. Crazy fucking

17:51

A. The decision to reimburse creditors

17:53

and customers using petition date prices

17:55

sparked outrage. I'd be fucking outraged

17:58

as well amongst FTX creditors. which

18:01

shared with Cointelegraph. Crypto holders are

18:03

not whole at petition date prices

18:05

as confirmed by the debtors. The

18:07

United States Department of Justice and

18:10

Judge Kaplan, many FTX customers continue

18:12

to suffer from mental distress, panic

18:14

attacks, divorces and suicidal thoughts as

18:16

their life savings have been stolen

18:19

and property still has not been

18:21

returned. Yet they give Caroline Ellison,

18:23

the CEO of Alameda Research, she

18:26

was working alongside her boyfriend, Bankman Freed,

18:29

to scam you guys. And

18:31

she gets a slap on the wrist,

18:33

24 months in a low security prison

18:36

for one of the biggest financial scam...

18:38

Oh, my apologies. The biggest financial scam

18:40

in financial history. So

18:43

it's like spitting in your face. I'd be outraged

18:45

as well. And they're only going to give you...

18:47

They're going to credit you your crypto when it

18:49

was at the lowest point in the cycle. So

18:52

if you had one Bitcoin, hypothetically, on the Air

18:54

Exchange, you're not getting today's value of 66,000. You're

18:58

getting the lowest value of 16,000. Stupid.

19:01

You should get your actual crypto back because

19:03

one Bitcoin is equivalent to one Bitcoin. They're

19:05

screwing you guys. Sucks. Other

19:08

FTX creditors and individuals overwhelmingly echoed

19:10

this sentiment. It's disgusting. They sneak

19:12

into the plan so late after

19:14

the vote. Another FTX creditor commented,

19:17

I can't understand why the law

19:19

can't protect us because the law

19:21

is designed to fuck you. That's

19:23

why. This is by design.

19:25

And you got to accept that. Disgraceful.

19:28

We have been scammed twice. I

19:31

agree. I feel sorry for everyone who got

19:33

scammed by FTX, scammed Bankman Freed, Caroline Ellison,

19:35

and the rest of the crew. In fact,

19:37

Sam Taboko got off Scott

19:39

Free as an executive

19:42

of the fucking company. His

19:44

name is not even brought up anymore. No

19:46

charges. Interesting. Very

19:49

interesting. This person also argued

19:51

that Bankman Freed violated the FTX terms of

19:53

service. Of course he did. And the broader

19:55

definition of property rights? By using client funds

19:58

to pay outstanding debts. Exactly. Good

20:00

point. Quoting them here. The terms of service

20:02

are unambiguous that the title

20:04

of the digital assets is owned by

20:06

the FTX customer. Sam was convicted beyond

20:09

a reasonable doubt for breaking the terms

20:11

of service and transferring customer funds to

20:13

pay off Alameda loans and buy Robinhood

20:15

shares. But let's not forget, what was

20:17

that lady blowing kisses the bankman freed

20:20

in the courtroom? I forget the

20:22

lady's name, but they're all

20:24

corrupt. They're all colluding. They're all

20:26

protecting each other's interests. It's disgusting.

20:28

On September 6, 2024, the

20:30

FTX estate reached a deal with the emergent

20:32

tech, an entity founded by the scam bankman

20:35

freed to secure the 600 million in Robinhood

20:37

shares to pay off the creditors. Sickening.

20:41

Also, his followers, Kavori, that is, are far

20:43

from the only objectors to the FTX estate

20:45

reorganization plan. In August of 2024, the US-based

20:47

trust, the

20:50

overseeing the bankrupt process, challenged the

20:52

FTX reorganization, claiming the plan grants

20:54

far too many legal protections for

20:56

administrators and representatives of the FTX

20:58

bankruptcy estate. In the legal filing,

21:00

trustee Andrew Vera pointed out that

21:02

these types of protections were not

21:04

standard in similar situations, represented an

21:06

alarming anomaly. Quitting them here, such

21:08

immunity would far exceed the protections

21:10

that estate professionals whose employment and

21:13

compensation are subject to the court

21:15

approval and oversight receiving during the

21:17

case. Meanwhile, the US SEC likewise

21:19

indicated that they may object to

21:21

the FTX reorganization plan. If the

21:23

former crypto exchange chooses to reimburse

21:26

clients with stablecoin payments, can't

21:28

make this shit up. I mean, again,

21:30

I feel sorry for everyone involved that

21:32

got taken advantage of, but this is

21:35

the sick world we live in. You

21:37

can thank your regulators, you can thank

21:39

the Department of Justice, and you can

21:41

thank the US government for screwing everybody

21:43

here. You know what I mean? How

21:45

many meetings behind closed door did Gary

21:47

Gensler have with scam bankman freed? Whoa,

21:49

at least three, according to his testimony.

21:52

That means 2000 for all

21:54

we know, allegedly Gary, allegedly. One

21:57

Bitcoin equals one Bitcoin. How can they argue that point?

24:00

being mined. If the sailor's prediction holds, it'd mean

24:02

that 99% of the Bitcoin total

24:04

supply will be in circulation much sooner than many

24:06

had anticipated. And I believe the final Bitcoin won't

24:08

be mined until the year

24:10

2140. This could lead to several

24:12

potential outcomes, with 99% of the

24:14

Bitcoin mined. The remaining 1% will

24:18

become increasingly scarce. That's a long time

24:20

for that final 1% to

24:22

play out, wouldn't you think? Potentially driving up

24:24

the price, potentially, no it will drive up

24:26

the price of the bitty, as the man

24:28

outstrips supply. The economics of the Bitcoin mining

24:31

may change considerably, with the miners having to

24:33

adjust to an environment in which it rewards

24:35

for miners new blocks, which are significantly decreased.

24:38

And as you know, Bitcoin's on

24:40

a rip. We're about to enter

24:42

October and end this September. As

24:44

you know, and we have another

24:46

analyst, Ali Martinez, I shared, I

24:48

think it was in yesterday's podcast, he's projecting a

24:50

$400,000 Bitcoin price target for this cycle peak

24:56

next year. Let me know if you

24:59

agree or disagree with the analyst. Now

25:01

for our feature story of the day,

25:03

hardcore bullish Bitcoin tweet comes from Bitcoin

25:05

bull, the one and only Jan 3,

25:07

Samson Mal, projecting the catalyst that will

25:09

send Bitcoin to a million dollars per

25:11

coin. In fact, there's four catalysts he

25:13

believes that are uber bullish right now.

25:16

So let's break this down and

25:18

shout out to Samson Mal. I'm

25:20

a fan. I like Samson. Check

25:22

them out. The one and only

25:24

Bitcoin super saiyan, Jan 3 CEO

25:26

representing nation adoption around the world.

25:29

You know, in nation states, who

25:31

was recently with like the prime

25:33

minister of Japan making big moves.

25:35

So yeah, now Samson Mal shared

25:37

a short video with his brief

25:39

participation, which reminds the community, there

25:41

are only 21 million

25:43

Bitcoins that can ever be in

25:45

existence. Unlike Ethereum, which has an

25:48

infinite supply. Crazy how

25:50

that is. This makes Bitcoin scarcer

25:52

than gold and silver. Want to

25:54

know why? You can continuously always

25:56

discover more gold or silver in

25:58

the earth. All you gotta do

26:00

is invest more resources into finding

26:02

it. So you could say

26:04

gold and silver may be relatively scarce. Bitcoin

26:07

has true scarcity. There's never been a

26:09

form of money in existence of humankind

26:11

with true scarcity. Now

26:13

Bitcoin is the hardest asset on the

26:16

planet. That's the tweet. And that's the

26:18

fact. It absolutely is because of the

26:20

scarcity. I mean run the math. Earlier

26:23

this year, Samson Mao, multiple times stress in

26:25

which I have covered multiple times in the

26:27

pod. But it's also seen

26:29

as scarcity as a major factor that is

26:31

likely to drive the Bitcoin price to the

26:33

record level of a million dollars per coin.

26:35

We call this the Bitcoin Super Seng Gang.

26:38

Huddle Gang. Where you at?

26:40

The other triggers which are already in play,

26:42

according to Jan 3's Boss, Boss of All

26:44

Bosses, are the spot Bitcoin ETFs scooping up

26:46

the massive amounts of this asset and the

26:49

halving that took place April 19th, which we

26:51

ushered in live right here in the stream.

26:53

We made history. How many of you were

26:56

tuned in? And after that event,

26:58

that was April 19th by the way, Bitcoin block rewards

27:00

dropped from six and a quarter to 3.125 of the

27:02

BTC. Meanwhile,

27:06

Samson believed that a moment will

27:08

come. Here are the catalysts. When

27:10

the supply shock caused by the

27:12

halving and the demand shock

27:14

gradually triggered by the ETFs, those

27:17

are the four catalysts, are bound

27:19

to clash just like that and

27:21

push the bitty price to a

27:23

milli per coin. Can you

27:25

smell what the rock is cooking? Let

27:28

me know. On Friday, Samson Al

27:30

supported his former boss and Satoshi

27:33

Nakamoto, associate the one and only

27:35

CEO of Blockstream, Adam Back, want

27:37

to know his mind boggling? People

27:40

don't even know Adam Back. He only has like

27:42

a half a million followers. He's

27:44

one of the heads responsible for

27:46

creating Bitcoin. Yeah, I mean,

27:48

who tweeted that he was ready for the

27:51

October. My question for you. Are

27:53

you ready for the October? Are

27:55

you ready for the full send

27:58

holler? Now, historically, October has been

28:00

a bullish month hence October along

28:02

with November. We call that

28:04

up-vember and with the Santa Claus rally

28:07

in December. Santa, I need

28:09

a new pair of shoes with the

28:11

trading community is known as the October.

28:13

Tell me something I don't know article

28:15

when leading assets in both crypto and

28:18

conventional markets go up in prices. Several

28:20

recent developments are hinting that October could

28:22

actually be imminent. I agree.

28:24

The first one took place last week

28:26

on a Wednesday when Fed Chairman Jay

28:28

Powell announced a slash of the interest

28:31

raised by 50 basis points, which is

28:33

a half a percentage point. This was

28:35

for the first time in four years.

28:37

Then the Chinese central bank followed suit.

28:39

Copycats, I tell you. Another

28:43

bullish driver is that on Friday,

28:45

the co-founder and former CEO finance

28:47

CEO, Sheng Ping Zhao, CZ, Mahomie

28:51

was released after a four month term

28:53

in prison. Many believe that this is

28:55

likely to drive Bitcoin into Bitcoin prices

28:57

up. He's just in time for the

28:59

bull. Today he posted his first tweet

29:01

in four months saying good morning and

29:04

what a great morning it was. That

29:06

was actually the other day. So

29:08

shout out CZ. Good to have you free brother. I

29:10

don't think you belong in prison and I guess because

29:12

she paid the 4.3 billion dollar

29:14

fine to the department of justice. They just

29:16

let you go and don't forget to check

29:18

out crypto news alerts.net for the

29:21

full premium experience with video and to participate

29:23

in our live Q and a and I

29:25

look forward to seeing you on tomorrow's episode.

29:27

Hado.