The REAL REASON Bitcoin Is Going Up… [Whale Buys $1 BILLION]
Is there any fundamental reason why we’re seeing cryptocurrency specifically Bitcoin?
Most people do not understand the real reason why Bitcoin is going up.
Bitcoin’s rally is actually kind of remarkable, especially considering how banks across America and around the world are in crisis.
Bitcoin’s rally is quite remarkable, especially considering this past weekend.
There was essentially mass-market chaos.
A min news that circle had funds stored in SBB.
They had about three billion.
And so this suggested that the stable coin they were issuing, USTC, essentially could have had a depegging event, which would have been devastating for the entire DeFi ecosystem in particular.
So right when news broke that the government essentially would backstop all depositor funds, markets rallied.
]And that’s what we’re seeing happen today.
Bitcoin is rallying after Joe Biden’s big bank bailout. The US government is bailing out US banks in crisis, including Silicon Valley Bank. USDC after losing its peg is regaining its peg. Circle company behind USDC was banking is banking with Silicon Valley Bank.
Joe Biden guaranteeing their 3.3 billion held by SBB will be available.
Bitcoin is rallying because of this. All customers who had deposits in these banks can rest assured, rest assured they’ll be protected and they’ll have access to their money as of today. Every American should feel confident that their deposits will be there if and when they need them.
Bitcoin is rallying because around the world, banks are getting bailed out.
Credit Suisse, a much bigger bank than SBB. It shares our soaring again after the bank secures a $54 billion lifeline from the central bank of Switzerland.
So credit Swiss securing a massive $50 billion funding deal is good for Bitcoin
for two reasons. One, it keeps the markets level. It keeps everybody feeling good in the markets. Number two, it shows how BS the central banking and banking systems around the world are. In other words, central banks deployed more fake money to save the house of cards. Fake money has an unlimited supply.
This is why we Bitcoin Bitcoin, Ethereum crypto is going up because Ethereum
finally set an official date for its Shanghai hard fork upgrade. Ethereum’s Shanghai upgrade goes live on April 12th. If you hold Ethereum, set your calendar for April 12th, the Ethereum Shanghai hard fork, which will allow users to finally withdraw their staked ETH if they’re validating the network is a highly anticipated event. Perhaps the upgrade will also have an effect on ETH market demand.
So what improvements is Ethereum Shanghai upgrade going to bring?
Well, of course, the biggest improvement is that it will allow users to unstake their ETH from now until eternity. The Ethereum upgrade also has several other proposed changes related to the Ethereum virtual machine EVM object format, which is a software component of all EVM compatible blockchains that gives decentralized program ability to the network. And it sets the stage for sharding later, which should add scalability and faster transaction processing for Ethereum. 2023 is going to be the year when rollups really come to maturity.
We have 40 for for the gives or ups more space and we have the trading wheels on rollups like really get weakened a lot. That kind of gets us to like most of sharding being finished and then rollups going fully trustless and under full day sharding.
For me personally, I think after the changes, that would be the first points
where I would feel comfortable saying even if nothing else happens past that
point, I would be happy with Ethereum. If we need to, we could stop there.
We’re not going to stop there, right? And we want to kind of like go ahead and try to actually make sure that the Ethereum ecosystem gets support 500 million users before the bull were 500 million users from knocking on the door actually ends up happening. That’s probably the next part of the future.
The transition from Ethereum as this kind of very theoretical ecosystem that’s
still discovering and finding itself to Ethereum as an ecosystem that actually
is, you know, tries to be useful and usable and secure and all of those things
and like actually provide value for hundreds of billions of people with everything going on with Bitcoin, Ethereum banks in general, the world in general.
Another reason Bitcoin is pumping is because Binance, the world leading exchange suddenly converts $1 billion from its industry recovery initiative to Bitcoin, Ethereum and BNB.
Here’s why. So back in November, Binance announced it was setting up an industry recovery fund to help rebuild the crypto industry.
Everybody was psyched about this at the time. Now they had $1 billion in their native stable coin. And now they’re converting what’s left of that into Bitcoin, Ethereum and BNB.
This move comes in the wake of Paxos, BUSD’s owner and issuer.
This is Binance’s stable coin being hit by a lawsuit from the United States,
S-E-C with the agency claiming last month that the firm violated investor protection laws, while Paxos announced it would halt BUSD minting and end its relationship with Binance, Binance putting what’s left of the $1 billion into Bitcoin, Ethereum and Binance.
Binance announced that they would actually be converting $1 billion BUSD into Bitcoin and Ethereum and BNB. This is significant by pressure on the entire market, which is essentially skyrocketing prices.
All right. That’s really interesting. So that news about converting to Bitcoin and Ethereum. So the fact that they want to take their coin and turn it into these other more popular well-known coins, you’re saying that’s just creating some of the rally, right? Yes, definitely. So essentially, they’re going to be selling $1 billion BUSD and buying Bitcoin and Ethereum and some other crypto assets.
And so this is a lot of money and especially because crypto markets are relatively liquid right now that will cause significant by pressure. And so that’s I think what we’re seeing today.
It’s unclear whether they’ve actually started these purchases, but the news alone
instantly caused a market rally. Close to $1 billion has entered Bitcoin, Ethereum and BNB. It took 15 seconds and cost $1.29. Imagine moving $980 million through a bank before banking hours on Monday.
This is why Bitcoin will continue to win. This is why banks will continue to fail or be forced to change. Everybody’s reporting how Facebook and Instagram stopping their NFT plans will not a lot of people are reporting this.
The Pokemon company, one of the biggest brands in the world, might be preparing to make moves in the metaverse.
Why do we say this? Well, the Pokemon company who’s the corporation in charge of the development of the Pokemon brand preparing to make some moves regarding the franchise into the metaverse because the company recently opened a job opportunity that includes experience and knowledge in fields like blockchain, web three and the metaverse as a requirement for the job, including connections with investors in these.
And he wrote Bitcoin is pumping because reverse indicator CNBC’s man
money, Jim Kramer recently said I would sell my Bitcoin into this rally.
And I would sell my Bitcoin right into this rally. And believe me, I hadn’t been a believer one time in Bitcoin, not here, not now. This is the same guy who backed Silicon Valley Bank a month before its collapse, not to mention the mush mouth on this guy in general. The knife best performer year to date is SVB financial. Don’t you want this company to merchant bank with deposit based the Wall Street have been stakeholder concerned about?
So you could argue SVB’s nearly 40% rally this year is barely a drop in the bucket. That’s how I want you to think it stocks still cheap. These stocks have more room to run. I’d like to take a minute and thank the sponsor of today’s video Swiss cheese finance linked below. They are the world’s first ever decentralized stock exchange. We are developing radically futuristic user friendly, multi chain stock and crypto products on top of a robust decks called Swiss cheese. The Swiss cheese token is the backbone of the Swiss cheese ecosystem. It’s an ERC 20 standard token built on eth layer two polygon, making it more widely accessible and easy to use as a total supply of 120 million.
So what exactly is Swiss cheese?
I still don’t get it Swiss cheese is developing a set of products and services
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They go over the problems with traditional exchanges and why Swiss cheese
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