Trump's nine Bitcoin promises examined – plus how a perfect macro storm is set to usher in BTC's new golden era and shatter all-time highs.
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- Bitwise CIO says “We are entering the Golden Age of Crypto.”
- Bitcoin breaks new all-time high above $74,000 amid Trump's early lead on Election Day | The Block
- The Crypto Industry’s Spending on the Election Pays Off - The New York Times
- Bitcoiners celebrate as Bernie Moreno ousts Sherrod Brown, Ohio upset
- Operation Chokepoint 2.0’s main enforcer Senate Banking Committee Chair Sherrod Brown of Ohio has lost his Senate seat
- Altcoin Daily on X: Trump Super Cut
- Boltz v3.8.0
- BOLT 12
- Strike: Introducing Bitcoin Auto-Withdrawals
- The Pomp Podcast • #1427 Howard Lutnick
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Bitcoin briefly surging to a new record high as investors bet that Donald Trump. Will deliver on his pro-crypto promises, especially with a Republican-controlled Senate behind him and after getting more than $25 million from crypto donors. Now, in terms of the market outlook, multiple analysts are expecting Bitcoin will hit $100,000 before Trump's inauguration, especially if he delivers on promises like launching a strategic national crypto stockpile with the $15 billion worth of Bitcoin that it already has on its books from asset seizures in Scott.
Bitcoin now up 68% year to date after briefly hitting that new all-time high overnight. Music. Welcome in to episode 34 of This Week in Bitcoin. My name is Chris. Boy, Bitcoin sure had a great night, didn't it? It's having a great day, too. I've been following Bitcoin longer than two of my children have been alive, at least. And I can't believe how good the old coin's doing and what I'm seeing. at a high level. America just elected the most pro-crypto congress in history. And you can bet that's going to reverberate throughout the West. You know, we're really just entering a golden age for Bitcoin.
As I record, Bitcoin just touched an all-time new high of 76,470 U.S. greenbacks. Over $200 billion has been added to the cryptocurrency market today on Wednesday, November 6th, as I'm recording. Crypto trading at all-time highs following Trump's victory. Mackenzie Segal is tracking the moves, which have been stunning. Mackenzie, this has been one at the center of the action. Yes, it has been, Sarah. It was a big night for the digital asset industry. With all coins surging higher as Bitcoin traded above $75,000 for the first time ever, investors are bullish that with a Republican-controlled Senate, Donald Trump will be able to swiftly deliver on his pro-crypto campaign promises.
The big one, guys, is his pledge to fire SEC chair Gary Gensler. I think it's not just that. I think it's they expect him to spend, too. You know, because here we are the day after the election and the Bitcoin ETFs have seen $3.73 billion in trading volume, with BlackRock accounting for over half of that just today. Bloomberg analysts also categorize the last 15 days of inflows as, quote, extreme. The market likes the coin and they're hedging against a basement. And also now they expect a pro-regulatory environment. And that's kind of wild. If you just rewind the clock, I don't know, two years?
You know, when FTX collapsed and SBF's schemes were all laid bare, Bitcoin and crypto were politically toxic. They were on the ropes. Operation Chokepoint 2.0 was kicked into high gear. Nobody was standing in the way now. The industry in the U.S. in particular was looking at leaving. It was really, really bad. But now, here we are just a few years later, and crypto is kind of the star of the election ball, if you will. Every politician has to think about how they're going to court this industry now. Because if they don't, they're probably going to lose an election in most cases. Betting against Bitcoin is no longer a viable stance in American politics.
And it means they also have to think about the holders of Bitcoin as well. The money from the crypto industry is not going away just because this election ended. I had to discuss it all. And I'm looking at StandWithCrypto.org. This is where Fair Shake, the big crypto money, really came into congressional races across the country. In addition to watching the president in the House of Representatives, guys, 253 pro-crypto candidates were elected, as opposed to 115 anti-crypto. So 16 pro crypto for the Senate, 12 for the anti-crypto. So 16 pro, 12 non for the Senate.
Part of Senate. I've already lost track. Yeah. It's an overwhelming push for crypto is what I'm saying. Ultimately, how does this make a difference? There's a lot at stake in Congress, actually. There was a lot of money at stake. 180 million was given to the Fair Shake super PAC coming from various members of crypto elite and crypto billionaires. But I think what they're at pains to say is this was nonpartisan. They didn't want to take a particular view on whether it's Democratic or indeed Republican. And it was whether or not you were pro-crypto or not. So for them, the key win was Sherrod Brown. Yes, he happens to be a Democrat.
He's ousted over, of course, in that particular race in Ohio. He was on the Banking Committee in the Senate. He was fervently against crypto. So a new crypto supporter comes in. What does this mean? Oh, yes, Brown. Brown was the head of Operation Chokepoint 2.0 in the Senate. The key person. So a lot of money was spent there. A couple of particular candidates were either targeted or they were particularly supported. And the result is that the crypto industry made a huge impact. I mean, we're talking $140 million spent. And Fairshake, who you heard them mention there, is one of these PACs.
They're already in the process of securing nearly $80 million just now. It's probably going to be more than this for the 2026 midterms. So they're not done. They are a permanent fixture of American politics. They're a creation of the regulatory crackdown. They created a monster that's now funding candidates that are attacking the position, the incumbents. So it's a historic moment for Bitcoin. Bitcoin was front and center for this election. And now I think the question that's probably on a lot of our minds is, how serious was Trump about his Bitcoin promises? Take a look at crypto. Oh, this morning, we have already a few times here with us now, getting after it relentlessly, right?
Anthony Pompliano, founder and CEO of Professional Capital Management. And you are, you're always in a positive mood. Even though crypto is not always positive, it is this morning. You expect more new highs on Bitcoin. New all-time high. Satoshi couldn't have written a better script having it hit a new all-time high on the night of the election. I think one of the most important things is we have the first Bitcoin president. President Trump ran on a campaign point that he was going to protect Bitcoin. He was going to create a Bitcoin strategic reserve.
And I think that you saw Bitcoin's price kind of reflect having somebody who was so pro-Bitcoin win the White House. Relatively, it's not that recent, I guess. So you think this is the real Donald Trump on Bitcoin that he's been for the last what, how long? A year and a half? I think that he's surrounded by enough people who really understand this. You know, people like Bitcoin Magazine CEO David Bailey, many others who have really spent the time with him. I think this is the most likely best case scenario is Bitcoin Magazine CEO Vivek. I think RFK Jr. also is a Bitcoiner as well.
I think Vance has shown records that he owns a good amount of Bitcoin. So I guess the hope would be that the people around Trump will encourage positive Bitcoin policy. And one of the interesting things is whether he believes in Bitcoin or not is almost a mute point, is what is he going to do? And if he's going to protect it and not be abrasive, that's a win. But if he also creates the Bitcoin Strategic Reserve, I think that'll be a huge tailwind and it'll kick off this global game theory, right? If the United States starts to lean in and welcome Bitcoin and say, hey, this is an asset that we want on our balance sheet, other countries are going to have to respond. Yeah, especially when you consider that they want to add 5% of the total supply after five years.
For the Bitcoin strategic reserve. And the ETFs are nearly at 1% now or something like that. And you've got Satoshi's stash, which is about 1%. And you've got Saylor, who's trying to buy up like 1%. Then you've got nation states that are going to start mining and stacking. It really does start to compound pretty quickly. And the interesting thing about Bitcoin is that it's been a bottoms-up adoption story. Individuals adopted it first. Now we see corporations and financial institutions. But the central banks are some of the biggest buyers of gold. Gold is up huge. And so if central banks start to buy Bitcoin and put it in their reserves, that would be a massive tailwind for Bitcoin.
Now, if you will just, I guess, let me indulge for a moment. I'm going to activate the time machine. We go back in time to Bitcoin Nashville 2024. President Trump was on stage, which we'll talk about more in a moment. And while he was up there, he promised this Bitcoin reserve. And he said one of the ways they would fund it, if you'll recall, was by keeping the existing Bitcoin the U.S. government has already seized. After that, Senator Lummis came up on stage and she revealed her strategic Bitcoin reserve bill. This is where the details are, because the actual groundwork is going to happen in the Senate, not in the White House.
We'll start with the 210,000 Bitcoin that President Trump just mentioned, and pull it into a reserve stored in geographically diverse vaults, and that's only the beginning. Over five years, the United States will assemble one million Bitcoin, five percent of the world's. Music. All right. Now we're back in the present. Yeah. So 200,000 Bitcoin per year, over five years to get to a total supply of one million. Just going by today's prices. And of course, if they started doing this, the price would be more. But by going just with what we have now, $76 billion worth of Bitcoin is what would go into that strategic reserve.
And of course, once that amount is locked up, well, it just makes the asset more scarce. And it just it just makes the price go up. So that's interesting, just that it doesn't actually depend on Trump to execute this. It depends on Senator Lummis and her allies in the Senate and perhaps in the House to formulate law that could make it to Trump's desk. And now that he has come on the record multiple times saying that he would support something like that, it's really just on him not to veto it. Music. All right, let's talk about Trump's promises. Altcoin Daily put together a supercut, which I'll link to in the show notes, of every promise Trump made back to back to back, cutting out all of the weave.
And also covers when he was speaking to Libertarians and when he was at Nashville 2024. And so I'm going to play this for you and then we'll recap every promise he made. And then we can keep track and see if he actually delivers. So here is the Super Cup. Hello, Bitcoiners. On day one, I will fire Gary Gensler. I will appoint a new SEC chairman who believes America should build the future, not block the future. A bond taking office, I will immediately appoint a Bitcoin and Crypto Presidential Advisory Council. Their task will be to design transparent regulatory guidance for the benefit of the entire industry, and they will get it done in 100 days.
As part of our effort to provide regulatory clarity, we will create a framework to enable the safe and responsible expansion of stable coins. I will ensure that the future of crypto and the future of Bitcoin will be made in the USA, not driven overseas. I will support the right to self-custody. I will keep Elizabeth Warren and her goons away from your Bitcoin. It will be the policy of my administration, United States of America, to keep 100% of all the Bitcoin the U.S. Government currently holds or acquires into the future. This will serve, in effect, as the core of the Strategic National Bitcoin Stockpile.
Today, I repeat my pledge to commute the sentence of Ross Ulbricht to a sentence of time served. Yeah, that's supposed to happen on day one. We allow the creation of a central bank digital currency. Ah, yes, and no CBDC. It's going to the moon, as we say. It's going to the moon. I want America to be the nation that leads the way. And that's what's going to happen. All right. So let's go over these. So by my count, depending on which ones you count, it's roughly nine promises he's made to the Bitcoin community. Number one. Fire Gary Gensler on day one. All right.
That's not a big one for me, but it clearly is one for a lot of people. Number two, appoint a new FCC chairman that is pro-crypto. Yeah, it's really, it's a whole administrative apparatus that kind of needs to be updated. Promise number three, he will immediately appoint a Bitcoin Crypto Advisory Council. Their industry guidance will be done in 100 days. Now, I don't know if, is this one promise or two? I count it as one promise. Create a council, guidance in 100 days. But let's keep an eye on that. So that's the first three. Number four, he will create a responsible regulatory framework for stable coins.
I think this is a no-brainer. When you look at what a massive customer tether is turning into for U.S. Government debt, they're incentivized to work with stable coins. So that happens regardless of what Trump wants. He says he will support the right to self-custody. I would imagine that looks like in the form of vetoing any bills that come across his desk that say otherwise. He says he will, quote, keep Liz Warren and her goons away from your Bitcoin. All right. Number five, I think. What are we on now? One, two, three, four, five, six. All right. So here's number seven.
Trump admin policy will keep 100 percent of the Bitcoin the government holds. It will use that as the core of the strategic national Bitcoin stockpile. I'm counting that as one promise. Number eight. He will commute the sentence of Ross Albrecht from Silk Road. And number nine or ten, depending on how you're counting these, he will never allow a CBDC. So I say let's keep track of these promises. And I'm putting, I say, that meaning you and me. I could use your help as you see news comes up or something that maybe matches any of these promises, fail or success. Boost in and let me know.
And I will keep a running list of promises met and promises missed. You know, some of this stuff he needs to do right away, really. You know, he says he wants to do it in the first 100 days, some of this. Well, we will see. There's a lot that they say they want to do in the first 100 days, but they don't always get it all done, do they? But it does seem like we could be entering a golden age of Bitcoin where savvy investors, large institutions, individual holders and nation states seem to see value in Bitcoin. Especially when you see the papers that have come out from the ECB, from the Minneapolis Fed, from the Microsoft shareholders, and others that say Bitcoin is the best hedge against abasement.
Seems like a consensus is building there. And that safe haven view that so many of us Bitcoiners have been waiting for the rest of the world to come around to is happening. And Bitwise's CIO is a pretty sharp guy. And this morning, he released three immediate reactions to the election and what they mean for Bitcoin and crypto. And I will leave it to you to watch the other two. but I cut the first one for you and you can find the rest in the show notes. The first big thing is we are entering the golden age of crypto. For the last four and indeed the last eight years, crypto has been operating with one or maybe two arms tied behind its back.
It's faced aggressive persecution from the SEC, multiple lawsuits, and a regulatory cloud that kept mainstream out of crypto. That is going to be washed away in my expectation in the first hundred days of the new administration. And we're going to get a fair, balanced playing field where we'll see what crypto can do. That will mean stablecoin legislation, it'll be market clarity legislation, and most importantly, it will remove the cloud hanging over crypto and allow institutional investors to evaluate it for what it is. From my perspective, that's going to be more flows and more adoption and a strong bull market for years to come.
A bull market for years to come. Wow, that is very bullish. You know, and I can kind of see some of the setup because I don't think we should expect the debt to go away. The government spending isn't going to stop. There's still troubled waters out there. In the market itself, the delinquency rate on commercial mortgage-backed securities for offices spiked to 9.4% in October. That is the highest in 11 years. Delinquencies are officially rising at the pace only seen after the 2008 financial crisis. There are aspects that are still extremely soft out there. The government still has massive spending.
When you consider the entitlement programs, defense, and just the interest on the debt that we have on the table right now, even if Elon and buddies eliminated 50% of all the other spending in the government, annual deficits would still exceed a trillion dollars. Plus, you have all these categories they can't cut. All these things like entitlements that people are due and owed that they can't cut. and their cost will exceed the taxable income of the people. So deficits will continue to soar even if they cut half of the spending. If they don't touch defense and entitlements and that debt, it doesn't really change the fundamentals. It'd be an improvement.
It'd be an improvement. And then if you could combine that with some kind of radical growth, radical growth, it might be all right. I don't know. I'd like to see it tried. But this isn't how the world should work. You know, I see my friends all around the world on the edge of their seats watching the U.S. presidential election. The whole world shouldn't hinge on who wins the White House every four years. And your family's generational wealth should not hinge on who is the president of the United States, especially when you don't live in the United States. Bitcoin will fix this, but it's still early in the adoption curve.
I don't know if it'll fix it in our lifetime. It could. It may just be a tremendous store of value that saves you from debasement, which would be incredible. It may just be a monetary means that you can exchange amongst anybody you want with no one in between you. It may just be one of the coolest technologies of our lifetimes. And that would be great. I think it's going to take a while before Bitcoin fixes when one person lives in the White House, it affects the value of your life savings. It will get there. It will get there. But I just don't know if it'll get there in our lifetime because my gut tells me humans will try everything else first and then they will figure out what they have to do.
That's just my gut on it. But I am I am so excited to get to watch this phase. This truly is history in the making for Bitcoin. And people will look back and be a little bit jealous of our generation. They may have a higher value Bitcoin, but they weren't here when the ride just took off. Music. Okay, so I got a question. What's your tolerance for price talk in a weekly news podcast? Because there is a possibility when and if the number goes up for a while, extended period of time, that's probably going to be one of the top stories. And I mean, I don't particularly like talking price because I think nobody should be getting Bitcoin and expecting a return in a week.
I just think that's crazy. I mean, there may be periods of time where that happens. But that shouldn't be the expectation. So I don't like encouraging this constant price speculative talk. But there is also moments of time where we are watching an asset get monetized. And that is going to be the story. So what's your tolerance for price talk? Boost it and let me know. I'll use that to try to kind of, you know, basically get the right balance on the whole thing. Music. All right. We got a lot more. We got your boost. We got some project updates, a final clip of the week and more.
Before we go any further, I want to tell you some ways you can support the show. If you want to buy, stack, hodl some Bitcoin, River's the company to do it here in the States. A Bitcoin-only company with the best infrastructure, proof of reserves, great interface, great app, and you can withdraw over Lightning. So you have a private option for withdrawing. So that's if you want to stack sats. If you want to spend sats, thebitcoincompany.com. Use the promo code JUPITER. I have links to both these in the show notes to support the show. They got gift cards for like basically every company out there.
Your sats go from lightning to gift card in seconds. And you can log in using the lightning network. So you don't even have to create a user account. It's pretty sweet. That's thebitcoincompany.com. Promo code JUPITER. Using those supports the show. Music. And we do have some boosts this week. Thank you, everybody who sends them in. And our baller booster is Verbal Shadow. Hey, Rich Lobster! Music. Okay, here we go. It's five boosts, everybody. So Chris gets a lecture. Number one, Hive is part of your tech stack. You should have investigated already, but because it's an altcoin, you've refused.
Podping is, this is number two. pod ping is not possible on bitcoin or any chain that has transaction fees, would kill the project and number three hive is a freedom of speech enabling named accounts no need to buy just earn none of the vc permissionless bs chain or permission pre-mine chain number four it does one thing on l1 store text data whether it's coin transactions or pod ping data all smart contracts are on layer two and number five the last one And Hive is the only blockchain to successfully fight off a hostile takeover. Stop holding off on learning about Hive.
So this is an interesting perspective because it's obviously from somebody who cares a lot about the technology. Verbal Shadow clearly cares about it. And I've been here too with Bitcoin. It's like, how do you not take the time to learn about this? Stop being lazy and go learn about this. But if Hive were to be successful, like at massive scale or any blockchain technology, Like I think about how you're going to watch Wall Street just go so degen over RWAs, real world assets. You know, they're going to be trading real estate and whatnot on a blockchain. And do you think any of those traders are going to have any idea how that blockchain works?
No. No, I think when you actually see crypto get implemented, it'll be much like how you saw Linux get adopted. You've got millions of users walking around with Android phones. Linux in their pocket, they have no idea how Linux works. They don't even know it has Linux in it. Don't even know it has Linux in it. So if you want Hive adopted and used, you're going to also have to then accept that there's going to be users who end up using an implementation of something they're not even aware is there. Just like most podcasting 2.0 users don't know there's a Hive blockchain for the podpings. Now, I actually was pretty skeptical of using something like Lightning.
I think you heard me say that. I still haven't heard anybody say you couldn't do it over something like Nostr. I mean, that's how we pass around live chat. It's a JSON blob. So I wonder about that. So I would love to know more about fighting off a hostile takeover. And I also would love to know why I should like what I've tried to look up hive and I find other stuff. It seems like there's a lot of namespace collision. And that also kind of put me off because I couldn't tell if I was reading about the right hive or not. So it's a tricky thing to get people to go care about, you know, a messaging bus, essentially.
But I follow that there could be something interesting there. But I mostly do not find other cryptocurrencies interesting because I'm not planning to try to hodl them to earn revenue and to store value. And today I transact in SATs or USD and I kind of have that use case solved. So I haven't really had a need for like Monero or I haven't really had a need for Hive beyond its implementation as a message bus for passing around episode releases. But I appreciate the boost of Verbal Shadow and thank you for being our baller this week. Bitcoin E97 came in with 50,000 sats. I hoard that which your kind covets.
Definitely discuss politics as it is relevant to Bitcoin. By the time you're making your next episode, my guess is that the election will have a clear outcome. Yep, you're right about that. A good episode topic would be giving your analysis on what the victory means for Bitcoin based on the information and the events we have. Well, I hope I did that. He says, also, I'm boosting again. This was earlier today. Boosting to give you a leave. I'm too anon to share myself. Trump is the number one man right now. Oh, Howard Letnick. We're going to get to him. Oh, interesting.
Okay, I'm not reading this now because I don't want to spoil my clip I'm going to play later. Fascinating. All right, so Bitcoin in 97 is telling me to look into somebody who I'm going to play as our final clip of the week in a little bit in the show. Yeah, it says, I'd love to hear your analysis on it. All right, well, stand by. And thank you for the boost. Thank you, Bitcoin. Open source accountant is here with 3,500 sats. I think Bitcoin adoption will fall somewhere between the model created by video games and its adoption and the model created by cell phone adoption.
It will be ridiculed, and lobbyists will try to get it legislated against, just like they have with video games. But as more professional utilities adopted, people will feel like they are behind the curve, like you had with cell phone adoption. Both went from something used as a punchline of jokes to the biggest markets in the world. Bitcoin will be the third leg of that stool. Open source accounting, I feel like it's happening right now. And I remember, probably some of you listening remember, when beepers were only for drug dealers and cell phones were only for drug dealers or doctors.
And as a kid who had a cell phone because I was a techie, you know, my teachers at school thought I was a drug dealer. They actually thought I did drugs and I deal drugs because I had a cell phone. And before that, I had a beeper. But that was really just so the ladies could get a hold of me. You know what I'm saying, OpenSARS accountant. Thank you for the boost. Appreciate it. Mix comes in with 5,000 sats. That's a Jar Jar boost. You so boost. Says thanks for the show. Well, thank you for the value. Appreciate that. Odyssey Westeros back with a bushel of ducks.
This old duck still got it. It's a McDuck, I'm going to say. 4,222 sats. I finally got my account made with River. The KYC process wasn't too painful. I had issues in the past due to my address. Yeah, I get mixed reports on River's KYC process. You know what I mean? So I'm glad you had a good experience. He said, I did have to complete some banking stuff before I could start buying the Bitcoin. I might do the savings account that River has going, but I have my reservations. Also, I had a bad week with my fountain wallet locking up due to a transaction. I'm realizing that I need to self-host my Lightning wallet with something like Albie.
Either way, still loving the show. Look forward to learning from you. Well, thank you, Odyssey. It's nice to hear from you. And Albie Hub's pretty great. I wonder if there might be a way. If people know how to generate an invite, boost in, because I would hand out a few invites to help people get started with their AlbiHub setup. Sorry to hear about Fountain issues. I heard somebody also was having streaming issues with Fountain. I have not had any problems on iOS or on Android recently with Fountain, but I really appreciate those reports because it helps me keep an eye when things look down or something isn't quite right or when I talk to the Fountain team.
It is really nice to know that stuff. Nice to hear from you, Odyssey. Oppie 1984 is here with 16,000 sats. In honor of the wharf sounder, today is a great day to die. Do I have a wharf? I don't think I have a... How do I not have a great day to die? I have Tough Little Ship. Tough Little Ship. Little. So there's some wharf for you. Kaplah! I don't know if... I guess if I should get a better one, huh? That's not possible. Well, nothing can do that. Well, I could if I tried hard enough. Bitcryptic's here with, oh, nope. Before we get to Bitcryptic, I'm sorry. Chaka's here with 10,000 sets. I told you not to practice Kiss the Living Room Pillow. The dog sleeps on it.
And he says, so you have not enough boosts in the previous weeks. Let's correct that. I really like your breakdowns. Keep it up. Well, thank you, Chaka. Chaka. I say your name with respect to, I hope I got it right. No? Oh. All right. Now, BitCryptics here with 4,096 sats. Oh, this is Cajun spicy. I feel like it's time to add some sound bites for binary boosts. Okay. You got any recommendations? I will take it. I probably don't have much. I need, like, some computer kind of crunching kind of sound effect. You know, like a classic computer working sound. Maybe, like...
There you go. That's kind of a crunching sound, right? It's kind of an obnoxious though. Fascinating. Yeah, sorry about that. Good suggestion though. I'm always down for some links too. Even if it's to like a YouTube video with a time code, I don't care. I'd love to freshen up the soundboard. Jordan Bravo is here with 8,192 sats. Analysis mode, password 80085. Money's tight these days, but your show always brings joy. keep up the great work and have some of my sats. Jordan, I get that. I definitely get that. I know. And the show is relentless. It keeps on going. It's a tricky thing.
I think it's a balance and I'm always looking to try to add as much value to the show as possible to make it worth your support. Thank you, sir. PCNOLREF comes in with 5,000 sats. Here in Canada, I've been using ShakePay to accumulate some sats. It's similar to crypto.com. It has a Visa debit card that gives use sats for my purchases and also there's a squad concept where you can get some extra sats for what you for your squad buys yeah okay yeah cash app has something like that with boosts on top of that you can round out your purchases to buy sats once i hit my magical number or jar jar tells me i send it to my hardware wallet use a boost everything's under control yeah so i've been experimenting with fold i haven't really talked about it on the show because i wanted to try it for quite a while, Here in the States, Fold offers a debit card that you get sats back on your purchases, and they also offer ACH bill pay, and you get sats back on your bills.
And so, like for me, you know, you got monthly bills you got to pay anyways. You might as well get 1,000 sats or something. It's not... Not going to make you rich. But, you know, after a few months, I probably have about 30,000 sats and rewards that I've stacked. And that's kind of nice. You know, I was just going to spend that money anyways. So there's a few things out there. If anybody else has any tricks for stacking sats with purchases, boost them in. Thank you, Nolref. Appreciate that. Withers comes in with 14,001 sats. Everything's under control. This is the way. Hey, Chris, just caught up with all of the episodes after a bit of a delay, switching over from the Bitcoin dad pod. I miss our Bitcoin dad, but I'm loving the new show and I hope that dad's doing well.
I did hear from him recently. I think he is doing well. I'm excited that both I'm excited at both DCA and getting Bitcoin interest on my fiat tokens on river. But again, I got shut down for living in New York. What are my New York neighbors using for their easy KYC stats? That isn't Coinbase. Man, New York needs to get its crap together. Washington has a few things that make it really tricky as well. It's not as bad as New York. So I really feel your pain. Washington restricts things to individuals, but if you have a business, you can get around some of it.
But they almost went as bad as New York. That's rough, Withers. If anybody has any advice for how Withers can get sats that isn't Coinbase in New York, please send it in. Got a suggestion for the newbie corner too. I'd love to understand cold cards. Specifically the benefit over running something like Sparrow on an SBC only turned on for transfers. And I'd like to hear your recommendations. Okay. I will add that to the list. You know, what it really comes down to is making sure that nobody spends your coins without particularly careful precautions taken, intentional precautions taken.
And you can, you know, you can operate Sparrow with a cold card just about every way you always would, except when it comes to Sensats. I'll, you know, I'm cold card. I'm going to write that down because that could be particularly, where's my pen? Oh, I'm always supposed to have a podcast pen. I cleaned up and I lost my podcast pen. I hope I don't forget because I think the cold card could be a particularly good one for a holiday special. But in the meantime, you know, self-custody, even without cold storage on a machine that you have disconnected regularly, that you have storage that you trust, is better than leaving it on the exchange. It's a good question withers. Thank you.
Grounded Grid comes in with 2,600 sats. Made it most of the way through the podcast and realized my streaming was off. I just want to say thanks for the great informative show. I like the episodes longer. Newbie Corners are great. And the stats at the end of the show are a great way to wrap up. Don't feel like you need to read this. Well, I just did. Grounded. Thank you very much. Really appreciate that. Wine Eagle's here with 3,500 stats. But no message. No message, but I appreciate that. Wine Eagle, I think it's probably you. We were talking about you provoked the hive conversation before.
Or is this a new Wine Eagle? I don't know, but it's nice to get the boost. Thank you for the value. And Anonymous came in with a Spaceballs boost, 12,345 sats. So the combination is one, two, three, four, five. Keep pushing for and investigating open source podcasting with value for value. I hear you, brother. Boost! Yes, I agree. Super important, podcasting is a uniquely decentralized, dispersed technology, right? There's no YouTube of podcasting. Companies are trying, but they haven't been successful yet. And if I have anything to say about it, they never will be.
Ace Ackerman comes in with 3,333 sats. You're doing a good job. Value for value, lucky 33. Thank you, Ace. Appreciate that a lot. Okay, there we go. That brings us to the end of everybody who boosted above 2000 sats. I did get a few below, but I don't read those for time purposes, but I do keep them and I read them off air and keep them in the show doc forever. And I appreciate them. There's some good ones in there. So we had a pretty decent showing. We had 37 of you stream as you listen. So you streamers out there collectively stacked 40,341 sats for the show. When you combine that with a nice healthy amount of boosters, we had 18 boosters. we stacked a grand total of 283,330 sats.
Music. Thank you, everybody. I know it's a crazy time with the election and the price fluctuations. The show continues on, and it may be moving into a whole new phase. Your support means more than ever. If you'd like to participate, get a new podcast app at podcastapps.com, Fountain.fm, Cast-O-Matic, Podcast Guru, and many more. Newpodcastapps.com. You can boost in with one of those. And thank you so much for participating. It really, it's like the, I know I say this, but it really is my favorite part of the show because there's just always stuff in there I don't expect. And stuff I wouldn't plan for, stuff I wouldn't even remember because I have the worst memory ever.
You know so it's really nice to get in there and actually have a conversation that goes beyond just the one episode that i remember things please feel free to continue to follow up and boost from previous episodes to keep conversations going i absolutely love that part of the boost all right moving right along. Music. Just a couple of project updates for you, but this first one's a big one. Bolts.exchange, which is one of the best resources for the Bitcoin community out there, has just rolled out Bolt 12 support. Now, this is huge because it's an open source application as well as a fantastic service, Bolts, B-O-L-T-Z.exchange, where you can swap from Lightning to Liquid or on-chain and all in between.
And they have a new CLN hold invoice plugin for the backend that has been rebuilt in Rust and they have what they call flexible chain swap amounts with automatic renegotiations when things are over or underfunded. They now support any chain swap amount and you can now use Bolt 12 to do invoice payments in submarine swaps and has a whole new API endpoint for invoices. So with Bolt 12, you get reusable payment requests, Enhance receiver privacy, huge right there, and stronger censorship resistance. Bolt 12 is a big deal. I'll put a link in the show notes if you want to learn more, or you can go to bolt12.org, B-O-L-T-12.org.
So if you need to get on-chain sats into Lightning or you've accumulated sats in Lightning, you want to get them on change or you want to experiment with liquid, B-O-L-T-Z.exchange. No affiliation with the show. It's a service I use. I think they're really, really great. And to see them add Bolt 12 support, Well, that's just fantastic. Strike has launched automatic withdrawals. Another great way to get your Bitcoin is the Strike app, another Bitcoin-only company with a diehard Bitcoiner behind it. And now they've introduced auto-withdrawals. So you just simply DCA with their super low prices, and then you set a desired amount, and your stack will automatically be transferred to your Bitcoin address within 24 hours.
Now, why within 24 hours? they're batching here and they're batching for low fees. But I think that means there's no withdrawal fees for you. So that's pretty sweet. And so you just set it and forget it and it'll just accumulate. And then when you reach a threshold. It will deposit into a Bitcoin address for you. If it were me, I might have that move into a Liquid account, and then from there, I might move it to my cold storage. But it's really nice to see Strike add these kinds of features. I think River has something like that, and Swan as well. And I'm not sure if there's others. If you know one out there that does, please feel free to let me know.
My understanding is that it's kind of a small handful of services that do this automatic withdrawal, and that's peace of mind when you're stacking Bitcoin. And it is time now for our final clip of the week. This was what our booster was referring to is there's an interesting gentleman known by Howard Lutnick. And you might go you might go Google Howard Lutnick. He is the CEO of Cantor Fitzgerald. And he's got a lot of interesting insights onto Bitcoin and building a Bitcoin business. Now, Cantor Fitzgerald, you've probably heard the name. They're pretty well known. They've been around since 1945. They're an American financial services company.
They're one of the – easy for me to say. They're one of the – they're one of the 24 primary dealers that are authorized to trade U.S. Government securities with the Federal Reserve Bank of New York. And they have around 12,000 employees. Their CEO sat down with Pomp and shared his personal position and views on Bitcoin and where Bitcoin in banking is going. I have one last question for you before I let you go. How rich are you and how much of your net worth is in Bitcoin? Because if I don't ask you, everyone will be really mad at me. If you took my stake in my public companies, which is public, and you did the public math, you'd see a couple of billion dollars.
And then at least a couple of billion dollars. And then you'd have, what's Cantor worth? I'm not saying. But things are good for me. How about that? Is that a nice way to say it? Since Cantor owns the stakes in the other companies, it's good for me. So, and I have- The percentage, you don't have to say the exact number, but like, how do you think about either you or Cantor? I don't have a big enough percentage. I probably have, you know, if, no, I can't say it, because then people can figure out the amount and how much I have. I would say I have hundreds of millions of dollars. Okay.
Okay, hundreds and hundreds of millions of dollars, exposure to Bitcoin. And it will be billions. I was going to say, so next year when you come back, and we'll do this again, and you'll be a Bitcoin billionaire. Yeah, but you remember that model I told you? So, every time Bitcoin dips, I'm going to be the buyer. Trust me, I know why you're doing the lending. Listen, you don't have to explain that one around here. So, yeah, I got the 50% Bitcoin, I got the Bitcoin lending. but basically what you're going to see is Canada Fitzgerald is going to be the sponsor of Bitcoin into traditional finance. And so we will be the leader of it. And I'll pull out this podcast in years to come and say, see, I told you, because no one's going to remember.
But all the banks, after we do it and show people how to do it right, they'll all copy. And so the asset of Bitcoin will just, as it becomes more accepted, it will become more valuable. And the whole Bitcoin nation should just call it a commodity, never a currency. Just call it a commodity. Because if it's a currency, you're attacking the politicians of the country, right? You're trying to replace my currency with yours. But if you say, hey, hey, hey, I'm just oil. I'm just gold. I'm just a commodity, leave me be, then they'll leave you be. And that is true. And it will be why Bitcoin, which is rare and is special, will become ever more rare, as we both know, ever more valuable over time.
It'll be financed just like gold is. Gold is, it's not like super financeable, but it's financeable. Oil, it's not super financeable, but it's financeable. Bitcoin will be financeable Bitcoin will be way way higher sometimes lower you just have to have faith. Music. Let's take a look at the state of the network before I get out of here. As I record, the price is currently $75,700. That is 1,321 sats per U.S. dollar. The price is up 4.6% since the last episode. We're down just 1% from our all-time high. Our all-time high, by the way, was zero days ago, November 6, 2024.
It's been a while since I've said that. I mean, I've been looking at this chart. We made it almost like, what, 230 days? Maybe more than that. Going sideways. Pretty incredible. As the episode wraps up, we are at block height, 869,184. The state of the Bitcoin network is strong. Thank you so much for joining me. Links to what I talked about today are this week in Bitcoin.show. Please do boost in with what you'd like to hear or what you thought I missed and your take on Bitcoin's future over even the next 100 days. I'd like to hear that. And I'd love for you to share this with somebody who might be getting just a little Bitcoin curious and maybe another friend in the Jupyter Broadcasting community as well.
Now, I do think one of the greatest innovations in recent Bitcoin history has been the ability to boost music and, of course, podcasts. And so that's why every episode I try to feature a value for value artist. If you boost in while the track is playing, 90 percent of your sats go to the artist. And this week, I'm leaving you with one of my all time favorites. It's One Night by Daddy Nat. Daddy Nat. Music.
Bitcoin briefly surging to a new record high as investors bet that Donald Trump. Will deliver on his pro-crypto promises, especially with a Republican-controlled Senate behind him and after getting more than $25 million from crypto donors. Now, in terms of the market outlook, multiple analysts are expecting Bitcoin will hit $100,000 before Trump's inauguration, especially if he delivers on promises like launching a strategic national crypto stockpile with the $15 billion worth of Bitcoin that it already has on its books from asset seizures in Scott.
Bitcoin now up 68% year to date after briefly hitting that new all-time high overnight. Music. Welcome in to episode 34 of This Week in Bitcoin. My name is Chris. Boy, Bitcoin sure had a great night, didn't it? It's having a great day, too. I've been following Bitcoin longer than two of my children have been alive, at least. And I can't believe how good the old coin's doing and what I'm seeing. at a high level. America just elected the most pro-crypto congress in history. And you can bet that's going to reverberate throughout the West. You know, we're really just entering a golden age for Bitcoin.
As I record, Bitcoin just touched an all-time new high of 76,470 U.S. greenbacks. Over $200 billion has been added to the cryptocurrency market today on Wednesday, November 6th, as I'm recording. Crypto trading at all-time highs following Trump's victory. Mackenzie Segal is tracking the moves, which have been stunning. Mackenzie, this has been one at the center of the action. Yes, it has been, Sarah. It was a big night for the digital asset industry. With all coins surging higher as Bitcoin traded above $75,000 for the first time ever, investors are bullish that with a Republican-controlled Senate, Donald Trump will be able to swiftly deliver on his pro-crypto campaign promises.
The big one, guys, is his pledge to fire SEC chair Gary Gensler. I think it's not just that. I think it's they expect him to spend, too. You know, because here we are the day after the election and the Bitcoin ETFs have seen $3.73 billion in trading volume, with BlackRock accounting for over half of that just today. Bloomberg analysts also categorize the last 15 days of inflows as, quote, extreme. The market likes the coin and they're hedging against a basement. And also now they expect a pro-regulatory environment. And that's kind of wild. If you just rewind the clock, I don't know, two years?
You know, when FTX collapsed and SBF's schemes were all laid bare, Bitcoin and crypto were politically toxic. They were on the ropes. Operation Chokepoint 2.0 was kicked into high gear. Nobody was standing in the way now. The industry in the U.S. in particular was looking at leaving. It was really, really bad. But now, here we are just a few years later, and crypto is kind of the star of the election ball, if you will. Every politician has to think about how they're going to court this industry now. Because if they don't, they're probably going to lose an election in most cases. Betting against Bitcoin is no longer a viable stance in American politics.
And it means they also have to think about the holders of Bitcoin as well. The money from the crypto industry is not going away just because this election ended. I had to discuss it all. And I'm looking at StandWithCrypto.org. This is where Fair Shake, the big crypto money, really came into congressional races across the country. In addition to watching the president in the House of Representatives, guys, 253 pro-crypto candidates were elected, as opposed to 115 anti-crypto. So 16 pro crypto for the Senate, 12 for the anti-crypto. So 16 pro, 12 non for the Senate.
Part of Senate. I've already lost track. Yeah. It's an overwhelming push for crypto is what I'm saying. Ultimately, how does this make a difference? There's a lot at stake in Congress, actually. There was a lot of money at stake. 180 million was given to the Fair Shake super PAC coming from various members of crypto elite and crypto billionaires. But I think what they're at pains to say is this was nonpartisan. They didn't want to take a particular view on whether it's Democratic or indeed Republican. And it was whether or not you were pro-crypto or not. So for them, the key win was Sherrod Brown. Yes, he happens to be a Democrat.
He's ousted over, of course, in that particular race in Ohio. He was on the Banking Committee in the Senate. He was fervently against crypto. So a new crypto supporter comes in. What does this mean? Oh, yes, Brown. Brown was the head of Operation Chokepoint 2.0 in the Senate. The key person. So a lot of money was spent there. A couple of particular candidates were either targeted or they were particularly supported. And the result is that the crypto industry made a huge impact. I mean, we're talking $140 million spent. And Fairshake, who you heard them mention there, is one of these PACs.
They're already in the process of securing nearly $80 million just now. It's probably going to be more than this for the 2026 midterms. So they're not done. They are a permanent fixture of American politics. They're a creation of the regulatory crackdown. They created a monster that's now funding candidates that are attacking the position, the incumbents. So it's a historic moment for Bitcoin. Bitcoin was front and center for this election. And now I think the question that's probably on a lot of our minds is, how serious was Trump about his Bitcoin promises? Take a look at crypto. Oh, this morning, we have already a few times here with us now, getting after it relentlessly, right?
Anthony Pompliano, founder and CEO of Professional Capital Management. And you are, you're always in a positive mood. Even though crypto is not always positive, it is this morning. You expect more new highs on Bitcoin. New all-time high. Satoshi couldn't have written a better script having it hit a new all-time high on the night of the election. I think one of the most important things is we have the first Bitcoin president. President Trump ran on a campaign point that he was going to protect Bitcoin. He was going to create a Bitcoin strategic reserve.
And I think that you saw Bitcoin's price kind of reflect having somebody who was so pro-Bitcoin win the White House. Relatively, it's not that recent, I guess. So you think this is the real Donald Trump on Bitcoin that he's been for the last what, how long? A year and a half? I think that he's surrounded by enough people who really understand this. You know, people like Bitcoin Magazine CEO David Bailey, many others who have really spent the time with him. I think this is the most likely best case scenario is Bitcoin Magazine CEO Vivek. I think RFK Jr. also is a Bitcoiner as well.
I think Vance has shown records that he owns a good amount of Bitcoin. So I guess the hope would be that the people around Trump will encourage positive Bitcoin policy. And one of the interesting things is whether he believes in Bitcoin or not is almost a mute point, is what is he going to do? And if he's going to protect it and not be abrasive, that's a win. But if he also creates the Bitcoin Strategic Reserve, I think that'll be a huge tailwind and it'll kick off this global game theory, right? If the United States starts to lean in and welcome Bitcoin and say, hey, this is an asset that we want on our balance sheet, other countries are going to have to respond. Yeah, especially when you consider that they want to add 5% of the total supply after five years.
For the Bitcoin strategic reserve. And the ETFs are nearly at 1% now or something like that. And you've got Satoshi's stash, which is about 1%. And you've got Saylor, who's trying to buy up like 1%. Then you've got nation states that are going to start mining and stacking. It really does start to compound pretty quickly. And the interesting thing about Bitcoin is that it's been a bottoms-up adoption story. Individuals adopted it first. Now we see corporations and financial institutions. But the central banks are some of the biggest buyers of gold. Gold is up huge. And so if central banks start to buy Bitcoin and put it in their reserves, that would be a massive tailwind for Bitcoin.
Now, if you will just, I guess, let me indulge for a moment. I'm going to activate the time machine. We go back in time to Bitcoin Nashville 2024. President Trump was on stage, which we'll talk about more in a moment. And while he was up there, he promised this Bitcoin reserve. And he said one of the ways they would fund it, if you'll recall, was by keeping the existing Bitcoin the U.S. government has already seized. After that, Senator Lummis came up on stage and she revealed her strategic Bitcoin reserve bill. This is where the details are, because the actual groundwork is going to happen in the Senate, not in the White House.
We'll start with the 210,000 Bitcoin that President Trump just mentioned, and pull it into a reserve stored in geographically diverse vaults, and that's only the beginning. Over five years, the United States will assemble one million Bitcoin, five percent of the world's. Music. All right. Now we're back in the present. Yeah. So 200,000 Bitcoin per year, over five years to get to a total supply of one million. Just going by today's prices. And of course, if they started doing this, the price would be more. But by going just with what we have now, $76 billion worth of Bitcoin is what would go into that strategic reserve.
And of course, once that amount is locked up, well, it just makes the asset more scarce. And it just it just makes the price go up. So that's interesting, just that it doesn't actually depend on Trump to execute this. It depends on Senator Lummis and her allies in the Senate and perhaps in the House to formulate law that could make it to Trump's desk. And now that he has come on the record multiple times saying that he would support something like that, it's really just on him not to veto it. Music. All right, let's talk about Trump's promises. Altcoin Daily put together a supercut, which I'll link to in the show notes, of every promise Trump made back to back to back, cutting out all of the weave.
And also covers when he was speaking to Libertarians and when he was at Nashville 2024. And so I'm going to play this for you and then we'll recap every promise he made. And then we can keep track and see if he actually delivers. So here is the Super Cup. Hello, Bitcoiners. On day one, I will fire Gary Gensler. I will appoint a new SEC chairman who believes America should build the future, not block the future. A bond taking office, I will immediately appoint a Bitcoin and Crypto Presidential Advisory Council. Their task will be to design transparent regulatory guidance for the benefit of the entire industry, and they will get it done in 100 days.
As part of our effort to provide regulatory clarity, we will create a framework to enable the safe and responsible expansion of stable coins. I will ensure that the future of crypto and the future of Bitcoin will be made in the USA, not driven overseas. I will support the right to self-custody. I will keep Elizabeth Warren and her goons away from your Bitcoin. It will be the policy of my administration, United States of America, to keep 100% of all the Bitcoin the U.S. Government currently holds or acquires into the future. This will serve, in effect, as the core of the Strategic National Bitcoin Stockpile.
Today, I repeat my pledge to commute the sentence of Ross Ulbricht to a sentence of time served. Yeah, that's supposed to happen on day one. We allow the creation of a central bank digital currency. Ah, yes, and no CBDC. It's going to the moon, as we say. It's going to the moon. I want America to be the nation that leads the way. And that's what's going to happen. All right. So let's go over these. So by my count, depending on which ones you count, it's roughly nine promises he's made to the Bitcoin community. Number one. Fire Gary Gensler on day one. All right.
That's not a big one for me, but it clearly is one for a lot of people. Number two, appoint a new FCC chairman that is pro-crypto. Yeah, it's really, it's a whole administrative apparatus that kind of needs to be updated. Promise number three, he will immediately appoint a Bitcoin Crypto Advisory Council. Their industry guidance will be done in 100 days. Now, I don't know if, is this one promise or two? I count it as one promise. Create a council, guidance in 100 days. But let's keep an eye on that. So that's the first three. Number four, he will create a responsible regulatory framework for stable coins.
I think this is a no-brainer. When you look at what a massive customer tether is turning into for U.S. Government debt, they're incentivized to work with stable coins. So that happens regardless of what Trump wants. He says he will support the right to self-custody. I would imagine that looks like in the form of vetoing any bills that come across his desk that say otherwise. He says he will, quote, keep Liz Warren and her goons away from your Bitcoin. All right. Number five, I think. What are we on now? One, two, three, four, five, six. All right. So here's number seven.
Trump admin policy will keep 100 percent of the Bitcoin the government holds. It will use that as the core of the strategic national Bitcoin stockpile. I'm counting that as one promise. Number eight. He will commute the sentence of Ross Albrecht from Silk Road. And number nine or ten, depending on how you're counting these, he will never allow a CBDC. So I say let's keep track of these promises. And I'm putting, I say, that meaning you and me. I could use your help as you see news comes up or something that maybe matches any of these promises, fail or success. Boost in and let me know.
And I will keep a running list of promises met and promises missed. You know, some of this stuff he needs to do right away, really. You know, he says he wants to do it in the first 100 days, some of this. Well, we will see. There's a lot that they say they want to do in the first 100 days, but they don't always get it all done, do they? But it does seem like we could be entering a golden age of Bitcoin where savvy investors, large institutions, individual holders and nation states seem to see value in Bitcoin. Especially when you see the papers that have come out from the ECB, from the Minneapolis Fed, from the Microsoft shareholders, and others that say Bitcoin is the best hedge against abasement.
Seems like a consensus is building there. And that safe haven view that so many of us Bitcoiners have been waiting for the rest of the world to come around to is happening. And Bitwise's CIO is a pretty sharp guy. And this morning, he released three immediate reactions to the election and what they mean for Bitcoin and crypto. And I will leave it to you to watch the other two. but I cut the first one for you and you can find the rest in the show notes. The first big thing is we are entering the golden age of crypto. For the last four and indeed the last eight years, crypto has been operating with one or maybe two arms tied behind its back.
It's faced aggressive persecution from the SEC, multiple lawsuits, and a regulatory cloud that kept mainstream out of crypto. That is going to be washed away in my expectation in the first hundred days of the new administration. And we're going to get a fair, balanced playing field where we'll see what crypto can do. That will mean stablecoin legislation, it'll be market clarity legislation, and most importantly, it will remove the cloud hanging over crypto and allow institutional investors to evaluate it for what it is. From my perspective, that's going to be more flows and more adoption and a strong bull market for years to come.
A bull market for years to come. Wow, that is very bullish. You know, and I can kind of see some of the setup because I don't think we should expect the debt to go away. The government spending isn't going to stop. There's still troubled waters out there. In the market itself, the delinquency rate on commercial mortgage-backed securities for offices spiked to 9.4% in October. That is the highest in 11 years. Delinquencies are officially rising at the pace only seen after the 2008 financial crisis. There are aspects that are still extremely soft out there. The government still has massive spending.
When you consider the entitlement programs, defense, and just the interest on the debt that we have on the table right now, even if Elon and buddies eliminated 50% of all the other spending in the government, annual deficits would still exceed a trillion dollars. Plus, you have all these categories they can't cut. All these things like entitlements that people are due and owed that they can't cut. and their cost will exceed the taxable income of the people. So deficits will continue to soar even if they cut half of the spending. If they don't touch defense and entitlements and that debt, it doesn't really change the fundamentals. It'd be an improvement.
It'd be an improvement. And then if you could combine that with some kind of radical growth, radical growth, it might be all right. I don't know. I'd like to see it tried. But this isn't how the world should work. You know, I see my friends all around the world on the edge of their seats watching the U.S. presidential election. The whole world shouldn't hinge on who wins the White House every four years. And your family's generational wealth should not hinge on who is the president of the United States, especially when you don't live in the United States. Bitcoin will fix this, but it's still early in the adoption curve.
I don't know if it'll fix it in our lifetime. It could. It may just be a tremendous store of value that saves you from debasement, which would be incredible. It may just be a monetary means that you can exchange amongst anybody you want with no one in between you. It may just be one of the coolest technologies of our lifetimes. And that would be great. I think it's going to take a while before Bitcoin fixes when one person lives in the White House, it affects the value of your life savings. It will get there. It will get there. But I just don't know if it'll get there in our lifetime because my gut tells me humans will try everything else first and then they will figure out what they have to do.
That's just my gut on it. But I am I am so excited to get to watch this phase. This truly is history in the making for Bitcoin. And people will look back and be a little bit jealous of our generation. They may have a higher value Bitcoin, but they weren't here when the ride just took off. Music. Okay, so I got a question. What's your tolerance for price talk in a weekly news podcast? Because there is a possibility when and if the number goes up for a while, extended period of time, that's probably going to be one of the top stories. And I mean, I don't particularly like talking price because I think nobody should be getting Bitcoin and expecting a return in a week.
I just think that's crazy. I mean, there may be periods of time where that happens. But that shouldn't be the expectation. So I don't like encouraging this constant price speculative talk. But there is also moments of time where we are watching an asset get monetized. And that is going to be the story. So what's your tolerance for price talk? Boost it and let me know. I'll use that to try to kind of, you know, basically get the right balance on the whole thing. Music. All right. We got a lot more. We got your boost. We got some project updates, a final clip of the week and more.
Before we go any further, I want to tell you some ways you can support the show. If you want to buy, stack, hodl some Bitcoin, River's the company to do it here in the States. A Bitcoin-only company with the best infrastructure, proof of reserves, great interface, great app, and you can withdraw over Lightning. So you have a private option for withdrawing. So that's if you want to stack sats. If you want to spend sats, thebitcoincompany.com. Use the promo code JUPITER. I have links to both these in the show notes to support the show. They got gift cards for like basically every company out there.
Your sats go from lightning to gift card in seconds. And you can log in using the lightning network. So you don't even have to create a user account. It's pretty sweet. That's thebitcoincompany.com. Promo code JUPITER. Using those supports the show. Music. And we do have some boosts this week. Thank you, everybody who sends them in. And our baller booster is Verbal Shadow. Hey, Rich Lobster! Music. Okay, here we go. It's five boosts, everybody. So Chris gets a lecture. Number one, Hive is part of your tech stack. You should have investigated already, but because it's an altcoin, you've refused.
Podping is, this is number two. pod ping is not possible on bitcoin or any chain that has transaction fees, would kill the project and number three hive is a freedom of speech enabling named accounts no need to buy just earn none of the vc permissionless bs chain or permission pre-mine chain number four it does one thing on l1 store text data whether it's coin transactions or pod ping data all smart contracts are on layer two and number five the last one And Hive is the only blockchain to successfully fight off a hostile takeover. Stop holding off on learning about Hive.
So this is an interesting perspective because it's obviously from somebody who cares a lot about the technology. Verbal Shadow clearly cares about it. And I've been here too with Bitcoin. It's like, how do you not take the time to learn about this? Stop being lazy and go learn about this. But if Hive were to be successful, like at massive scale or any blockchain technology, Like I think about how you're going to watch Wall Street just go so degen over RWAs, real world assets. You know, they're going to be trading real estate and whatnot on a blockchain. And do you think any of those traders are going to have any idea how that blockchain works?
No. No, I think when you actually see crypto get implemented, it'll be much like how you saw Linux get adopted. You've got millions of users walking around with Android phones. Linux in their pocket, they have no idea how Linux works. They don't even know it has Linux in it. Don't even know it has Linux in it. So if you want Hive adopted and used, you're going to also have to then accept that there's going to be users who end up using an implementation of something they're not even aware is there. Just like most podcasting 2.0 users don't know there's a Hive blockchain for the podpings. Now, I actually was pretty skeptical of using something like Lightning.
I think you heard me say that. I still haven't heard anybody say you couldn't do it over something like Nostr. I mean, that's how we pass around live chat. It's a JSON blob. So I wonder about that. So I would love to know more about fighting off a hostile takeover. And I also would love to know why I should like what I've tried to look up hive and I find other stuff. It seems like there's a lot of namespace collision. And that also kind of put me off because I couldn't tell if I was reading about the right hive or not. So it's a tricky thing to get people to go care about, you know, a messaging bus, essentially.
But I follow that there could be something interesting there. But I mostly do not find other cryptocurrencies interesting because I'm not planning to try to hodl them to earn revenue and to store value. And today I transact in SATs or USD and I kind of have that use case solved. So I haven't really had a need for like Monero or I haven't really had a need for Hive beyond its implementation as a message bus for passing around episode releases. But I appreciate the boost of Verbal Shadow and thank you for being our baller this week. Bitcoin E97 came in with 50,000 sats. I hoard that which your kind covets.
Definitely discuss politics as it is relevant to Bitcoin. By the time you're making your next episode, my guess is that the election will have a clear outcome. Yep, you're right about that. A good episode topic would be giving your analysis on what the victory means for Bitcoin based on the information and the events we have. Well, I hope I did that. He says, also, I'm boosting again. This was earlier today. Boosting to give you a leave. I'm too anon to share myself. Trump is the number one man right now. Oh, Howard Letnick. We're going to get to him. Oh, interesting.
Okay, I'm not reading this now because I don't want to spoil my clip I'm going to play later. Fascinating. All right, so Bitcoin in 97 is telling me to look into somebody who I'm going to play as our final clip of the week in a little bit in the show. Yeah, it says, I'd love to hear your analysis on it. All right, well, stand by. And thank you for the boost. Thank you, Bitcoin. Open source accountant is here with 3,500 sats. I think Bitcoin adoption will fall somewhere between the model created by video games and its adoption and the model created by cell phone adoption.
It will be ridiculed, and lobbyists will try to get it legislated against, just like they have with video games. But as more professional utilities adopted, people will feel like they are behind the curve, like you had with cell phone adoption. Both went from something used as a punchline of jokes to the biggest markets in the world. Bitcoin will be the third leg of that stool. Open source accounting, I feel like it's happening right now. And I remember, probably some of you listening remember, when beepers were only for drug dealers and cell phones were only for drug dealers or doctors.
And as a kid who had a cell phone because I was a techie, you know, my teachers at school thought I was a drug dealer. They actually thought I did drugs and I deal drugs because I had a cell phone. And before that, I had a beeper. But that was really just so the ladies could get a hold of me. You know what I'm saying, OpenSARS accountant. Thank you for the boost. Appreciate it. Mix comes in with 5,000 sats. That's a Jar Jar boost. You so boost. Says thanks for the show. Well, thank you for the value. Appreciate that. Odyssey Westeros back with a bushel of ducks.
This old duck still got it. It's a McDuck, I'm going to say. 4,222 sats. I finally got my account made with River. The KYC process wasn't too painful. I had issues in the past due to my address. Yeah, I get mixed reports on River's KYC process. You know what I mean? So I'm glad you had a good experience. He said, I did have to complete some banking stuff before I could start buying the Bitcoin. I might do the savings account that River has going, but I have my reservations. Also, I had a bad week with my fountain wallet locking up due to a transaction. I'm realizing that I need to self-host my Lightning wallet with something like Albie.
Either way, still loving the show. Look forward to learning from you. Well, thank you, Odyssey. It's nice to hear from you. And Albie Hub's pretty great. I wonder if there might be a way. If people know how to generate an invite, boost in, because I would hand out a few invites to help people get started with their AlbiHub setup. Sorry to hear about Fountain issues. I heard somebody also was having streaming issues with Fountain. I have not had any problems on iOS or on Android recently with Fountain, but I really appreciate those reports because it helps me keep an eye when things look down or something isn't quite right or when I talk to the Fountain team.
It is really nice to know that stuff. Nice to hear from you, Odyssey. Oppie 1984 is here with 16,000 sats. In honor of the wharf sounder, today is a great day to die. Do I have a wharf? I don't think I have a... How do I not have a great day to die? I have Tough Little Ship. Tough Little Ship. Little. So there's some wharf for you. Kaplah! I don't know if... I guess if I should get a better one, huh? That's not possible. Well, nothing can do that. Well, I could if I tried hard enough. Bitcryptic's here with, oh, nope. Before we get to Bitcryptic, I'm sorry. Chaka's here with 10,000 sets. I told you not to practice Kiss the Living Room Pillow. The dog sleeps on it.
And he says, so you have not enough boosts in the previous weeks. Let's correct that. I really like your breakdowns. Keep it up. Well, thank you, Chaka. Chaka. I say your name with respect to, I hope I got it right. No? Oh. All right. Now, BitCryptics here with 4,096 sats. Oh, this is Cajun spicy. I feel like it's time to add some sound bites for binary boosts. Okay. You got any recommendations? I will take it. I probably don't have much. I need, like, some computer kind of crunching kind of sound effect. You know, like a classic computer working sound. Maybe, like...
There you go. That's kind of a crunching sound, right? It's kind of an obnoxious though. Fascinating. Yeah, sorry about that. Good suggestion though. I'm always down for some links too. Even if it's to like a YouTube video with a time code, I don't care. I'd love to freshen up the soundboard. Jordan Bravo is here with 8,192 sats. Analysis mode, password 80085. Money's tight these days, but your show always brings joy. keep up the great work and have some of my sats. Jordan, I get that. I definitely get that. I know. And the show is relentless. It keeps on going. It's a tricky thing.
I think it's a balance and I'm always looking to try to add as much value to the show as possible to make it worth your support. Thank you, sir. PCNOLREF comes in with 5,000 sats. Here in Canada, I've been using ShakePay to accumulate some sats. It's similar to crypto.com. It has a Visa debit card that gives use sats for my purchases and also there's a squad concept where you can get some extra sats for what you for your squad buys yeah okay yeah cash app has something like that with boosts on top of that you can round out your purchases to buy sats once i hit my magical number or jar jar tells me i send it to my hardware wallet use a boost everything's under control yeah so i've been experimenting with fold i haven't really talked about it on the show because i wanted to try it for quite a while, Here in the States, Fold offers a debit card that you get sats back on your purchases, and they also offer ACH bill pay, and you get sats back on your bills.
And so, like for me, you know, you got monthly bills you got to pay anyways. You might as well get 1,000 sats or something. It's not... Not going to make you rich. But, you know, after a few months, I probably have about 30,000 sats and rewards that I've stacked. And that's kind of nice. You know, I was just going to spend that money anyways. So there's a few things out there. If anybody else has any tricks for stacking sats with purchases, boost them in. Thank you, Nolref. Appreciate that. Withers comes in with 14,001 sats. Everything's under control. This is the way. Hey, Chris, just caught up with all of the episodes after a bit of a delay, switching over from the Bitcoin dad pod. I miss our Bitcoin dad, but I'm loving the new show and I hope that dad's doing well.
I did hear from him recently. I think he is doing well. I'm excited that both I'm excited at both DCA and getting Bitcoin interest on my fiat tokens on river. But again, I got shut down for living in New York. What are my New York neighbors using for their easy KYC stats? That isn't Coinbase. Man, New York needs to get its crap together. Washington has a few things that make it really tricky as well. It's not as bad as New York. So I really feel your pain. Washington restricts things to individuals, but if you have a business, you can get around some of it.
But they almost went as bad as New York. That's rough, Withers. If anybody has any advice for how Withers can get sats that isn't Coinbase in New York, please send it in. Got a suggestion for the newbie corner too. I'd love to understand cold cards. Specifically the benefit over running something like Sparrow on an SBC only turned on for transfers. And I'd like to hear your recommendations. Okay. I will add that to the list. You know, what it really comes down to is making sure that nobody spends your coins without particularly careful precautions taken, intentional precautions taken.
And you can, you know, you can operate Sparrow with a cold card just about every way you always would, except when it comes to Sensats. I'll, you know, I'm cold card. I'm going to write that down because that could be particularly, where's my pen? Oh, I'm always supposed to have a podcast pen. I cleaned up and I lost my podcast pen. I hope I don't forget because I think the cold card could be a particularly good one for a holiday special. But in the meantime, you know, self-custody, even without cold storage on a machine that you have disconnected regularly, that you have storage that you trust, is better than leaving it on the exchange. It's a good question withers. Thank you.
Grounded Grid comes in with 2,600 sats. Made it most of the way through the podcast and realized my streaming was off. I just want to say thanks for the great informative show. I like the episodes longer. Newbie Corners are great. And the stats at the end of the show are a great way to wrap up. Don't feel like you need to read this. Well, I just did. Grounded. Thank you very much. Really appreciate that. Wine Eagle's here with 3,500 stats. But no message. No message, but I appreciate that. Wine Eagle, I think it's probably you. We were talking about you provoked the hive conversation before.
Or is this a new Wine Eagle? I don't know, but it's nice to get the boost. Thank you for the value. And Anonymous came in with a Spaceballs boost, 12,345 sats. So the combination is one, two, three, four, five. Keep pushing for and investigating open source podcasting with value for value. I hear you, brother. Boost! Yes, I agree. Super important, podcasting is a uniquely decentralized, dispersed technology, right? There's no YouTube of podcasting. Companies are trying, but they haven't been successful yet. And if I have anything to say about it, they never will be.
Ace Ackerman comes in with 3,333 sats. You're doing a good job. Value for value, lucky 33. Thank you, Ace. Appreciate that a lot. Okay, there we go. That brings us to the end of everybody who boosted above 2000 sats. I did get a few below, but I don't read those for time purposes, but I do keep them and I read them off air and keep them in the show doc forever. And I appreciate them. There's some good ones in there. So we had a pretty decent showing. We had 37 of you stream as you listen. So you streamers out there collectively stacked 40,341 sats for the show. When you combine that with a nice healthy amount of boosters, we had 18 boosters. we stacked a grand total of 283,330 sats.
Music. Thank you, everybody. I know it's a crazy time with the election and the price fluctuations. The show continues on, and it may be moving into a whole new phase. Your support means more than ever. If you'd like to participate, get a new podcast app at podcastapps.com, Fountain.fm, Cast-O-Matic, Podcast Guru, and many more. Newpodcastapps.com. You can boost in with one of those. And thank you so much for participating. It really, it's like the, I know I say this, but it really is my favorite part of the show because there's just always stuff in there I don't expect. And stuff I wouldn't plan for, stuff I wouldn't even remember because I have the worst memory ever.
You know so it's really nice to get in there and actually have a conversation that goes beyond just the one episode that i remember things please feel free to continue to follow up and boost from previous episodes to keep conversations going i absolutely love that part of the boost all right moving right along. Music. Just a couple of project updates for you, but this first one's a big one. Bolts.exchange, which is one of the best resources for the Bitcoin community out there, has just rolled out Bolt 12 support. Now, this is huge because it's an open source application as well as a fantastic service, Bolts, B-O-L-T-Z.exchange, where you can swap from Lightning to Liquid or on-chain and all in between.
And they have a new CLN hold invoice plugin for the backend that has been rebuilt in Rust and they have what they call flexible chain swap amounts with automatic renegotiations when things are over or underfunded. They now support any chain swap amount and you can now use Bolt 12 to do invoice payments in submarine swaps and has a whole new API endpoint for invoices. So with Bolt 12, you get reusable payment requests, Enhance receiver privacy, huge right there, and stronger censorship resistance. Bolt 12 is a big deal. I'll put a link in the show notes if you want to learn more, or you can go to bolt12.org, B-O-L-T-12.org.
So if you need to get on-chain sats into Lightning or you've accumulated sats in Lightning, you want to get them on change or you want to experiment with liquid, B-O-L-T-Z.exchange. No affiliation with the show. It's a service I use. I think they're really, really great. And to see them add Bolt 12 support, Well, that's just fantastic. Strike has launched automatic withdrawals. Another great way to get your Bitcoin is the Strike app, another Bitcoin-only company with a diehard Bitcoiner behind it. And now they've introduced auto-withdrawals. So you just simply DCA with their super low prices, and then you set a desired amount, and your stack will automatically be transferred to your Bitcoin address within 24 hours.
Now, why within 24 hours? they're batching here and they're batching for low fees. But I think that means there's no withdrawal fees for you. So that's pretty sweet. And so you just set it and forget it and it'll just accumulate. And then when you reach a threshold. It will deposit into a Bitcoin address for you. If it were me, I might have that move into a Liquid account, and then from there, I might move it to my cold storage. But it's really nice to see Strike add these kinds of features. I think River has something like that, and Swan as well. And I'm not sure if there's others. If you know one out there that does, please feel free to let me know.
My understanding is that it's kind of a small handful of services that do this automatic withdrawal, and that's peace of mind when you're stacking Bitcoin. And it is time now for our final clip of the week. This was what our booster was referring to is there's an interesting gentleman known by Howard Lutnick. And you might go you might go Google Howard Lutnick. He is the CEO of Cantor Fitzgerald. And he's got a lot of interesting insights onto Bitcoin and building a Bitcoin business. Now, Cantor Fitzgerald, you've probably heard the name. They're pretty well known. They've been around since 1945. They're an American financial services company.
They're one of the – easy for me to say. They're one of the – they're one of the 24 primary dealers that are authorized to trade U.S. Government securities with the Federal Reserve Bank of New York. And they have around 12,000 employees. Their CEO sat down with Pomp and shared his personal position and views on Bitcoin and where Bitcoin in banking is going. I have one last question for you before I let you go. How rich are you and how much of your net worth is in Bitcoin? Because if I don't ask you, everyone will be really mad at me. If you took my stake in my public companies, which is public, and you did the public math, you'd see a couple of billion dollars.
And then at least a couple of billion dollars. And then you'd have, what's Cantor worth? I'm not saying. But things are good for me. How about that? Is that a nice way to say it? Since Cantor owns the stakes in the other companies, it's good for me. So, and I have- The percentage, you don't have to say the exact number, but like, how do you think about either you or Cantor? I don't have a big enough percentage. I probably have, you know, if, no, I can't say it, because then people can figure out the amount and how much I have. I would say I have hundreds of millions of dollars. Okay.
Okay, hundreds and hundreds of millions of dollars, exposure to Bitcoin. And it will be billions. I was going to say, so next year when you come back, and we'll do this again, and you'll be a Bitcoin billionaire. Yeah, but you remember that model I told you? So, every time Bitcoin dips, I'm going to be the buyer. Trust me, I know why you're doing the lending. Listen, you don't have to explain that one around here. So, yeah, I got the 50% Bitcoin, I got the Bitcoin lending. but basically what you're going to see is Canada Fitzgerald is going to be the sponsor of Bitcoin into traditional finance. And so we will be the leader of it. And I'll pull out this podcast in years to come and say, see, I told you, because no one's going to remember.
But all the banks, after we do it and show people how to do it right, they'll all copy. And so the asset of Bitcoin will just, as it becomes more accepted, it will become more valuable. And the whole Bitcoin nation should just call it a commodity, never a currency. Just call it a commodity. Because if it's a currency, you're attacking the politicians of the country, right? You're trying to replace my currency with yours. But if you say, hey, hey, hey, I'm just oil. I'm just gold. I'm just a commodity, leave me be, then they'll leave you be. And that is true. And it will be why Bitcoin, which is rare and is special, will become ever more rare, as we both know, ever more valuable over time.
It'll be financed just like gold is. Gold is, it's not like super financeable, but it's financeable. Oil, it's not super financeable, but it's financeable. Bitcoin will be financeable Bitcoin will be way way higher sometimes lower you just have to have faith. Music. Let's take a look at the state of the network before I get out of here. As I record, the price is currently $75,700. That is 1,321 sats per U.S. dollar. The price is up 4.6% since the last episode. We're down just 1% from our all-time high. Our all-time high, by the way, was zero days ago, November 6, 2024.
It's been a while since I've said that. I mean, I've been looking at this chart. We made it almost like, what, 230 days? Maybe more than that. Going sideways. Pretty incredible. As the episode wraps up, we are at block height, 869,184. The state of the Bitcoin network is strong. Thank you so much for joining me. Links to what I talked about today are this week in Bitcoin.show. Please do boost in with what you'd like to hear or what you thought I missed and your take on Bitcoin's future over even the next 100 days. I'd like to hear that. And I'd love for you to share this with somebody who might be getting just a little Bitcoin curious and maybe another friend in the Jupyter Broadcasting community as well.
Now, I do think one of the greatest innovations in recent Bitcoin history has been the ability to boost music and, of course, podcasts. And so that's why every episode I try to feature a value for value artist. If you boost in while the track is playing, 90 percent of your sats go to the artist. And this week, I'm leaving you with one of my all time favorites. It's One Night by Daddy Nat. Daddy Nat. Music.
Welcome into 34!
Bitcoin Surges Post-Trump Election
Welcome to This Week in Bitcoin
Bitcoin Strategic Reserve Plans
Analyzing Trump's Crypto Promises
Price Talk and Market Sentiment
Support and Boosting the Show
Listener Feedback and Discussion
Project Updates in the Bitcoin Space
State of the Bitcoin Network
