Joins us now.
He is an author and host of the Thinking Crypto podcast, longtime friend of ours down here in the NYSC community, but making, if I'm not mistaken, is taking stock debut.
My man, nice to have you here.
Good to see you, JD.
Thank you for taking the time.
Let me get your take first and foremost, this Morgan Stanley Bitcoin ETF launch, a big item of note yesterday.
What should we know?
Yeah, this is significant.
Morgan Stanley, a bit late to the game, but they have a Huge network of advisors and the ability to bring in a lot of capital into that ETF.
So yesterday they launched and they had about 34 $34 million in trading volume.
So pretty significant for a first day launch.
But this is the story that we're seeing all of Wall Street launching crypto ETFs, tokenizing, and much more.
I want to get your take.
The White House economists saying stable coin rewards are not a risk to banks.
Talk to me about what the White House is.
Does this have to do with ongoing negotiations surrounding the Clarity Act?
They're still trying to get this thing done.
Yes, the banks are blocking the Clarity Act because they believe stablecoin yield on platforms like Coinbase and Kraken are a threat to them.
Consumers can go earn a higher yield, and banks are afraid of that.
I think the banks need to compete, but they're going to have to find a compromise with the crypto industry because they're lobbying very hard.
They're lobbying members of the Senate.
And we need to get the Clarity Act through because that is significant for the crypto market.
So I think a compromise is on the table and we're going to get the details soon.
Tony.
There is no shortage of geopolitical tensions at home and abroad right now.
We're watching investors in real time across the major market indexes.
They're trying to play that geopolitical uncertainty, looking for hedges.
Are they gravitating towards crypto?
What are you seeing in terms of interest there?
Yes, we are seeing a relief rally for Bitcoin.
It shot up after the ceasefire agreement was put out.
Along with the S&P 500 and NASDAQ and so forth, so I think Bitcoin may possibly get to about 800, then roll over along with the stock market.
So I would recommend folks be cautious.
I don't think this situation is done.
There's a lot of uncertainty, and we could see further downside after relief.
So I don't know if you would consider that a price target, but talk to me more about your expectations for Bitcoin.
I'm trying to pull it up here, uh, as we speak, Bitcoin holding on to 72.
This thing's been really range bound.
Obviously we're we're now several months removed from that now pretty.
From this liquidation event around October 10th, your expectations for what some Bitcoin-related catalysts could be even in the weeks ahead.
Sure, so I believe the Clarity Act getting passed, if a solution, a compromise is met between the banking industry as well as crypto, that could send crypto ripping because it will be a huge buy the news or buy the rumor, sell the news event.
And not to mention if there's further ceasefire or calming down of the Iran. situation that will bode well for all markets.
Yeah, here's a look at Bitcoin's chart.
I'm doing my own charts live right off my iPad right now, but obviously we got the big poll back and then pretty range bound activity since then.
Um, where can people go if they want to find more of your work or everything you're doing over at Thinking Crypto?
So you can find the Thinking Crypto podcast on YouTube, Spotify, Apple, or wherever you get your podcasts.
The great Tony Edward, good friend of ours here, author and host of the Thinking Crypto podcast, my man Crush it, please come back and see us anytime.
Absolutely, thank you for having me.
It's nice to see you.
