Bitcoin continues to fall: What’s driving the action #CriptoNews

00:00 Speaker A

Bitcoin hitting the lowest level here since November, JP. What what do we chalk this up to? Is this just broad macro concerns? Folks are worried about Trump tariffs and government firing, sinking the US economy, and investors have decided, you know what, get me out of risk assets.

00:17 JP

Thanks for having me here, and you you just nailed it right there. It is, it’s the macro economy right now. I think this is very temporary and this, I mean, we have the best setup for a bull market in crypto.com. I mean now we have a pro Bitcoin administration, we have a Bitcoin National Reserve in place. So I think this is just the beginning, but yeah, it’s it’s the the macro conditions that are freaking everybody out right now.

00:45 Speaker A

Um, and so, if it’s just the beginning, how long is this going to go on, JP?

00:56 JP

Well, hopefully it doesn’t take more than a couple of months or so, um, but, you know, we’ll have to see what happens here. But, JP, what what would sort of reverse it? Would, you know, would the trade clouds have to disappear? Would that do it?

01:14 JP

Yeah, I think that’s really what’s going to have to happen is that, uh, absolutely you’re going to see that the sum of the tariffs and the deals being made here for a lot of things to change. Uh, but in time, I mean again with the Bitcoin National Reserve in place, a pro Bitcoin administration, you have an administration that’s talking about how to maintain the dollar status. We have to embrace stable coins. I mean, this is all unprecedented before, and so I think, again, it’s just a matter of time for that excitement to return.

01:51 Speaker A

Well, you have all that excitement, JP, and yet Bitcoin is down 25% from its highs, at least 25%, it’s probably more at this point of the day now that we’re we’re near the lows. So, you know, it seems like you have the vibe shift that is firmly in place in the White House, and yet that vibe shift has not come to prices. So what, you know, what is going to be if all of this hasn’t done it, what’s the thing that’s going to do it?

02:24 JP

Like I said, I think it’s just going to take time. It’s going to take time for, well, okay. So first of all, right now again, because of what the administration in America has done, you know that other countries are looking at Bitcoin as a national strategic asset to put on their own balance sheet. You’re going to see other companies do the same thing. Here at Exodus, we have over 2,000 Bitcoin on our balance sheet. And so you’re going to see other companies come along and do that exact same thing. And so it’s just again, it’s just going to take some time, and that’s okay. Those of us that are in the are in the industry remain hyper bullish. I was just tweeting today that I’m out there, I’m trying to buy as much Bitcoin as I can right now.

03:15 Speaker A

JP, you know, so Trump did make good on a promise, right? He did authorize that new strategic Bitcoin reserve. The open question, I think which everyone’s trying to get their heads around, is do you think the US government takes it a step further and starts buying Bitcoin, JP, and can they do that in a way that, you know, under a budget neutral manner?

03:42 JP

Yeah, I think they absolutely can. I mean, I think, uh, just creating the reserve was the beginning, right? Promises made, promises kept. And so, yes, absolutely. Then I think eventually they can start buying, and again I’m really happy to see that it was done in a budget neutral way. So this way the American taxpayer does not have to bear the burden of the cost. And so you could you could see something as simple as, you know, maybe the gold that’s in Fort Knox, right, that’s marked at $40 an ounce, it hasn’t had a repricing since the early 70s. You can imagine a world where they take, like say 5% of the gold in Fort Knox, and buy Bitcoin. And so there’s there’s other strategies that I think that can be employed to acquire more Bitcoin, but remains to be seen what the administration will actually do yet.

04:39 Speaker A

JP, thank you. Appreciate it.

04:44 JP

Thank you.