Summary
âž¡ The discussion revolves around the global impact of Bitcoin and other cryptocurrencies like XRP. The speaker believes that Bitcoin’s popularity is growing worldwide, with more people investing for the long term. They also discuss XRP’s rise in market cap, attributing it to its utility for efficient cross-border payments and recent technological advancements. The speaker predicts that XRP’s value could continue to rise, potentially reaching $10 by the end of next year.
âž¡ The discussion revolves around the potential of cryptocurrencies like XRP, Solana, and Chainlink in the global economic system. The speaker believes that these digital currencies could play a significant role in the future, especially with their fast transaction speeds and lower costs for developers. They also mention the possibility of these cryptocurrencies being used in a decentralized lending system, eliminating the need for banks. The speaker also suggests that the rise of cryptocurrencies could lead to changes in the Federal Reserve’s role. Lastly, they discuss their platform, My Digital Money, which aims to make investing in cryptocurrencies accessible and secure for everyone.
âž¡ MyDigitalMoney.com offers a secure platform for trading cash and IRAs, using a framework that ensures safety. They provide a free simulation account for beginners to understand how it works. You can sign up for an actual account in a few minutes if you’re interested. Contact them via their website or call 833-636-2008 during work hours for more information.
Transcript
Guy. Anyway, what made you think that this was going to happen? Yeah, well, so I think the main. The main thing is Trump is. Is very pro crypto, and it’s not just words. It’s, you know, actions who he had in his cabinet in the past and, you know, how he’s actually investing in a crypto business and the types of people he surrounds himself with. So my prediction was that he was going to win the election, and that’s just strictly based off of data that I saw, even though the polls were saying something else. You know, I was going and looking at what I think are more trusted sources like the poly market, you know, betting platform, right.
Where people actually put their money on what they think. Right. Or what they want to happen, which is a better indicator than, you know, polls that are, you know, on a very small sample of the population. So I was looking at kind of sources like that, and my prediction was he was going to win. And so because of that, that’s why I predicted 100. And it was based off of technical analysis as well, and, you know, looking at historical patterns and, and all of that together with that prediction. I had the same prediction, but my only caveat was how much cheating would take place and would it be enough to make a difference in the swing states.
And it, it turned out that it didn’t. But I, Guy, I got to say this. I, My, My own family was afraid of the same thing, but a much greater degree than I was. And they thought Kamala was going to pull off the steel as they were saying. And I told him, I said, look, people shop for groceries every week, okay? They’re not engaged in having abortions, you know, every week. And I just said, the issues that the Democrats are talking about aren’t going to relate to the average American, and we’re going to see voter record turnout.
And sure enough, among the Republicans, we did. Not to Democrats, but the Republicans, we did. So you were right on the money. I was optimistic and slightly cautiously, but. But I Thought Trump was going to win, but this is it. Bitcoin took off because of the election. Would you agree with that? Absolutely, yeah, absolutely. I, I think it was going to go up long term regardless, but in the short term, you know, not that it would have really gone down that much, but it would have been more sideways for a while and then it would have started going up a little bit, you know, next year.
But yeah, I mean, because of Trump’s crypto friendly policies and you know, just the fact that he said he was going to fire Gary Gensler, which is really the arch nemesis of crypto, you know, that in itself. Right. And you know, it showed to be true. I mean, as soon as Gary Gensler announced he was going to quit, the price shot up. Right. And as soon as Donald Trump announced that Paul Atkins was going to be appointed to the head of the sec, you know, he’s very crypto friendly, so the price shop even more. That’s exactly when the price went above 100 was on that announcement.
So, yeah, I mean, all these little things, right? Definitely. And you know, we know now that there’s going to be less roadblocks to regulations. Right? There’s three specific regulations that have been on the table but could never get past the House or, sorry, the Senate. But now we have a Republican led, more crypto friendly Senate and House. So. And of course, by the time the bill gets to Trump’s desk, you know, it’s definitely going to be signed. So we have a much clearer path to regulations. And I think that’s kind of the major reason why the price has gone up.
And I think we’ll continue to go up next year. It’s absolutely amazing that we’re seeing such a transformation. But the lid’s been kept on crypto. And my gut tells me that I’ve seen gold and silver suppression in prices before. And when things happen to lessen restrictions or hoarding stop, prices just escalated and we’re seeing the same thing now. This was a natural. Would you say this was kind of like a makeup for past suppression? Yeah, probably, yeah. Because, you know, the US SEC and just the Cabinet, you know, the White House has really done a lot of damage with, you know, suing all the different companies that are just trying to innovate and not providing clarity and just not acting in good faith.
It’s really done a lot of damage. And yeah, so this is part, part of that. And you know, a lot of people that I know thought, okay, yeah, we’ll get to 100. But then there’s going to be a correction because everyone’s going to take profits. But once we got to 100 there was a slight drop but then it keeps going back up above 100 above and below. And that’s a good sign that shows that we really built a support level around 100. And when you look at the actual underlying data, there are a lot of long term holders that you know, that’s defined by people that have held Bitcoin for more than 155 days.
There are a lot of those that have sold but there’s more people that have, that are short term that are bought in and there’s also, you know, these big institutions like MicroStrategy and all the different ETF providers that have each bought you know like 200,000 bitcoins each since September. So there’s a lot of accumulation going on More. There’s been about a million bitcoins bots in September but about 820000 sold. So overall we’re, we’re building a lot of you know, liquidity and support level around 100. So it’s not just this unsustainable number that you know, was reached and, and you know, now we’re back down to 80s.
Right. So it’s looking very good that will, you know, we’ll make a much higher target next year. What do you think the ceiling is? Well, it depends on the time frame. Right. But I think I agree with the, with the prediction and I never like to make predictions. But of the head of Vaneck, he predicted 180,000 sometime next year and he’s the head of crypto research and when you look at historical patterns and you look at what happens usually after the bitcoin having and you even adjust for inflation, which has been crazy. That’s not that optimistic of a number even.
So I think it’s possible. But again I always caution, I don’t give advice. It’s never a sure thing. Right. But I do think that with the different regulations on the table, we have the Bitcoin strategic reserve bill that Senator Loomis introduced just right after the election and you know we have the fit 121 which is, you know, aiming to give regulatory clarity defining what’s a security and what’s a commodity. And you know, I think one of those is very likely to pass next year. So I think what will that do to. Let me interrupt you for a second because I don’t want to leave that point.
What will that do to the market? Well, they encourage reserve Currency status behind the dollar. Yeah, well, the strategic reserve bill would. It basically requires us by 1 million bitcoins over five years. So that will, of course, give people confidence in Bitcoin not just as a speculative asset, but as something that you use to strengthen the dollar and as a reserve asset. And companies are already doing that as well. We got Microstrategy and Block, and now we’re even talking about, you know, the Amazon and Mik and Microsoft shareholders, you know, are, are suggesting that, you know, they add Bitcoin as a reserve asset too.
So, yeah, it’ll give companies, you know, and institutions more confidence to do the same. One of the things I wonder, though, from Amazon to the average investor, are they looking at the Federal Reserve as being in big trouble and this is a flight away from disaster? I mean, I think that’s part of it. I don’t, I’m not like as much of a, you know, economist, but I mean, I think it’s a hedge, regardless. I don’t know if it means they think the Fed is going to, you know, collapse or. But it’s, it’s, you know, it’s a hedge.
Okay, that answers my question. I’ve been hedging a lot, too. And so I think the Federal Reserve days are numbered as long as Trump and Vance are in office. I really do believe that. I mean, Trump, excuse me, Trump has been very JFK like, and JFK got his head blown off for the silver certificates. That was one of the five reasons I’ve listed. It’s a different world we live in now, though. And let me ask you this question. I’d like to go international for a second. Is the same thing going to happen with the Euro and the European Union? Because they’re really in trouble.
I think something similar will happen. I’m not, you know, I’m more focused on us. But yeah, I think this, this is a global phenomena, though. And, and, you know, bitcoin is being acquired in other countries, of course, and is going to happen with, with companies and governments. Right. And of course we have, you know, El Salvador and other governments that are using it, you know, for similar reasons. So, yeah, I mean, this is, this is a global phenomena. Right. I think it is, too. And if the European Union doesn’t wake up, I think you’re going to be one happy worker in the industry because I think the Europeans are going to come to people like you.
Right. I would. Listen, I had a discussion with a friend of mine. His daughter lives in Europe and she’s married to a European and they asked him to ask me what he thought about what I thought about coming into bitcoin in America. I’m telling you, the thoughts are there. I think this is really good stuff. The federal. And I see everyone, I mean, I see it. The proof is. And the people around me and at my digital money, right, we have a cold storage and we have, you know, our strategy is more, you know, for retirement.
Right. So we have people that. More people that have gone to IRAs than cash because we offer both. And I’ve seen recently that there’s a lot more people, you know, getting into long term holding of bitcoin with us. Right. And I also just see it in, you know, looking at the data outside of our company. And that’s why I have this shirt, by the way. This is. I like that shirt. Yeah, Hoddles, hold on for dear life. So I see more and more people doing it. And you have people that are taking their bitcoin out of exchanges, which most likely means they’re putting it in cold storage.
They’re planning to hold it for a long time. And I see the same thing with my digital money too. So that’s a good sign. And I think that’s why we’re able to hold that, you know, support that, reduce the volatility. It reduces it. Now that it’s still a volatile asset, but it definitely reduces it. And that’s what we’ve seen over the last year or two. Right. I mean, Bitcoin was hovering in the 60s for so long. You know, in the past it would have, you know, gone to 60, back down to 40, up to, you know, so it’s, it kind of like has been moving a little bit sideways, but then up, right.
Once it hits. And it’s still volatile compared to other assets, but it’s less volatile than it has been historically. Need to ask you one. I want to digress just for one second here. And I wrote this down because I wasn’t familiar with it. It’s called Hedero H D E R O. Are you familiar with that? I’ve heard of it, but I’ve not done enough research to speak about it. Okay, all right. I’m in the same boat. I told you earlier, I was in a business meeting today and someone was raving about this. And I said, I’ve heard nothing about it.
I said, but it just so happens I’m talking to Guy Gotzlak today and I will ask him, yeah, you know, there’s going to be a lot of Fool’s Gold that Accompanies this movement is my feeling and I want to be real. I mean, to me the only way to go here is to go mainstream in the business and not jump onto every little rumored trend that’s coming. And that’s how I looked at that. But anyway, that’s very good. I wanted to ask you too about equity xrp. This is the surprise of the year. Okay, tell us about XRP and what’s going on.
Yeah, so XRP is now at number three in terms of market cap. It was at number, I believe six before. So XRP is kind of the poster child of kind of the fight against the sec. Right. The SEC filed a lawsuit against XRP and it’s, you know, it’s been pretty famous lawsuit that’s been going on for years and, and that’s been holding back the price of xrp. Xrp, essentially it’s a swift replacement. Right. It’s, it provides the utility of cross border payments. Right. So you could transfer money abroad and from abroad to the U.S. and it’s like the Swift, you know, the U.S.
made Swift system, but the Swift is much slower and more costly and XRP is more about, you know, efficiency, you know, low fees and fast settlement. And so yeah, think of it that way as a swift replacement, but it’s using the blockchain and it has like a public ledger. And you know, the price has been held back by the SEC lawsuit and there were, there were some wins in the, in the courtroom that kind of helped the price, you know, about a year ago, so the price was kind of hovering around 50 cents. And then, you know, around the time that Gary Gensler hinted, he, he didn’t even announce he was resigning.
And you know, Trump already said he would most likely fire him, but he couldn’t just fire him outright, he could kind of push him out over time. And so, you know, just him hinting at it, the price already shot up and then a week later he actually announced that he was resigning. This was I think November 21st and the price, you know, went to the 90s. And I’m sorry, not the 90, that’s Bitcoin. The, the XRP price shot up significantly and now it’s at like, I don’t know, what is it, two and a half dollars, something around there.
So it went up, you know, maybe about 400%. And you know, a lot of people were talking about, yeah, you know, sometime next year it’s going to go above a dollar. But it way surpassed everyone’s expectations. And that’s just because Gary Gensler was being pushed out. And then once Paul Atkins, the crypto friendly former SEC chairman, I think from 2002 to 2008, once he was announced by Trump, that’s when we went above the 100k bitcoin. But the XRP really went crazy. Yeah, exactly. Is, is this jump by XRP in your opinion, is it sustainable? Oh yeah, I think so, yeah.
Because, and they’re also, there’s a lot of technological advancements as well that they’re undergoing. So it’s not even just the fact that the SEC is not going to be more friendly and not going to be on the way, but they also have like various partnerships that you know, they’ve made, you know, to improve their technology. And, and also they’re coming out with a stable coin which you know, further enhances, you know, their ability for international remittances. So, so yeah, I think it’s very possible that they would reach, you know, even $10. Right. By the end of next year.
And again, don’t take it as advice. This is, I heard this somewhere. I’m trying to think where, where did I Hear this? The $10. There’s some analyst talked about it. I gotta say something. I know why you gotta say that because you’re not a financial advisor. I get that. But the thing is, is when you’re saying something now you have my direct attention because you’ve been right so many times and you’re so conservative in your, in your estimates, but you’ve been right on the money with. Yeah. And, and you know there’s also XRP ETF in the, in the works too.
Right. Some of the ETF providers have filed for an ETF and we saw what happened when Bitcoin became an ETF in January. That was the catalyst for the, the, the crazy surge we had this year. You know, at 140% growth this year. Right. And it all started in January with the Bitcoin etf. The Ethereum ETF didn’t do so well. But it’s, it’s gonna catch up and it is catching up and, but XRP is one of the next ones and it’s the third. Right. So as Bitcoin is doing well, you’re always going to have the tailwinds, right.
Hitting xrp. So there’s multiple reasons to think that it’s going to continue. It’s really interesting. Wasn’t Russia kicked out of the SWIFT system? I, I think so. Just because of. Yeah. The sanctions and sanctions. Yeah. And that’s why they’re open the door for Russian participation now in international remittances with xrp. Yeah, but I think they’re thinking about their own kind of system that they’re talking about within the BRICS members. They’re talking about a similar system that they would create. And I don’t know what the currency would be. It would be probably some kind of stable coin or their own currency that they would use for.
For transfer. But xrp, I mean, technically, they could be banned. Even though it’s decentralized, there’s still some level of control there. So I don’t know how that would work out. I don’t know if they would be able to use it or not. But I can get back to you on that one. But I’m, I’m speculating that. I mean, that’s all because here, here’s the thing. I know when Trump is inaugurated, I mean, he’s already reached out to Putin, he wants to end the war. He. He has to want to normalize relations. Heck, he’s even invited Xi Jinping to his inauguration.
So I mean, he wants to use diplomacy and to shut a major power like Russia out of the world economic system, I thought was pretty crazy because it left a big trail of destruction for a lot of people. And I think it’s a natural thing for Donald Trump to jump into that. And I think that will really help XRP accelerate its growth. And even if the brics do their own, they still have to have some kind of transfer system to work with the West. So, I mean, that’s. To me, that. That’s where I think XRP is a really good advantage.
Now, my digital money, do you have anything to do with xrp? Yeah, I mean, we have XRP on the platform, so you can buy it. You know, we also have a lot of the other popular ones, like Solana is probably the second best smart contracts platform after Ethereum and has done very, very well. And yeah, so that’s on the platform. And we also have XRP’s competitor, XLM. I don’t know if you’re familiar with Stellar Lumens, but that is basically a more decentralized version. So XRP is used by a lot of banks. Right. And XLM is more for kind of retail investors for or for individuals in general.
And around the same time that XRP shot up, XLM went crazy. And I’m trying to pull up the price so I can tell you what happened there. I had a small amount, and all of a sudden it became a big amount. And I was like, how that Happened it shot up like 400% or something like that within a week or two weeks or something like that. So. Well, the popular feature is going to be the decentralization. Yeah. So I, I got mine and I’ll disclosure at 11 cents and then all of a sudden it became 44 cents.
Well, it went above that. It went to like 50 cents or something like that and now. Or 60 cents. I see now it’s at 44 cents. So you know, that one had some really good growth. Yeah, man, yeah. But we also have like Chain link is another popular one as well. So that one was just acquired by, by Trump’s new company or the company he backs, World Liberty Financial. So that is kind of the, the crypto company he’s in, he’s involved with. And I think they facilitate like lending between entities and individuals. So it’s like its own blockchain.
And so they bought I think a million dollars worth of link or Chainlink. And we could talk about the utility, but I don’t want to bore you guys, but basically Chainlink provides like real world data to smart contracts so you can build decentralized applications. So I think how it would be used by Trump’s company is to get all the pricing of the different assets from the real world so that the smart contracts can utilize those prices. I’ve heard the processing speeds a lot faster for things like HL XLM and these newer ones. Is that true? Yeah, so, so Solana, Yes, Solana is much, much, much faster than Ethereum.
And that’s one reason why it’s picked up a lot, it’s grown, you know, at a faster rate than Ethereum, even though Ethereum is still, you know, the, the first in terms of smart contract platforms. But Solana has been catching up and it’s because of the transaction speed and the cost. Right? So when I say cost, it’s cost to the developers. So if I’m a developer and I want to develop a decentralized application, right. Like maybe I want to, you know, develop like some kind of lending system where you and I can, you know, loan each other crypto so the banks aren’t sitting in the middle and taking a huge cut, then I need to build it on a platform like Ethereum or Solana.
But then I have to pay for computation. I have to pay to be able to run the application. Well, with Ethereum I have to pay a lot more, but with Solana I don’t. Right. And so anyway, so that’s why that’s important. That’s why the speed, you know, and the cost is important. The speed is important because if you want to build, you know, let’s say you want to build a visa replacement. Visa has to process. I forget how much it is, but like hundreds of thousands of transactions per second. You can’t do that with Ethereum right now.
So, so that’s why the speed is important. It’s amazing. As you were just unfolding this, the thought cropped into my head, the dollar may survive in name only, but it’s going to have to be backed by what you’re talking about, what we’re talking about in general here. There’s no question that Trump has to go to this. I, I’ve been saying this now, if he gets elected, this is how he’ll save the dollar. And you’re just reinforcing my belief in this. And I wonder, this is kind of outside our purview for both of us, but I’m just starting to wonder what’s going to happen to the Federal Reserve, because they’re not going to be needed.
I would predict that Congress will exercise its constitutionally granted authority and begin to be the ones that coin money that’s they’re called to do that in the Constitution. And the Federal Reserve is effectively taking that away from them. And I think that’s going to switch. And this is the reason why. I mean, it’s what you’re involved in. It must be really exciting and gratifying to have come in when you did to this industry and to see what’s happening to it now. Absolutely. There’s so much that could be done still that we’re at a very early stage still.
And what’s exciting now is that we have the pathway from a regulatory stand standpoint to get to where we can. Right. We’re still very early on. I mean, in terms of the innovation, cryptocurrencies have utilities. Right. It’s not just something you speculate on. A lot of people kind of think that falsely think that these are things that actually have value, they have tangible utility. And we’re only at the very beginning of what could be done. So it’s exciting now that we have, you know, we’re going to have the leeway to innovate. It’s amazing. It’s great to be a part of this.
Well, you’re, I’m sure that it’s happy days at my digital money. You know, just talk to me a little bit about my digital money and what you’re all about and so forth and. Yeah. And let’s Invite people to find out more about you too. I appreciate it. It’s a good, you know, we’ve been talking for so long, it’s good to kind of remind your viewers and even yourself, you know, what, what we do. But yeah, we try to make crypto accessible to, you know, just the average, you know, everyday person that is not necessarily savvy and you know, technologically and might not know how to, you know, create a wallet and you know, transfer crypto between wallets.
So we try to make it very accessible also from an informational standpoint, you know, you can call us, we have us based people that will pick up so they can answer questions about what is crypto, what is this coin, you know, what we’re seeing. Right. So they can speak in layman’s terms. And so it’s about giving you the tools you need to make it easy to invest and to make informed decisions. And so that’s what we’re all about. We focus on long term growth, on retirement. And we have IRAs where you can create an IRA with our custodian that we partnered with and it’s all owned by you, so it’s legally your assets.
We can’t invest your assets or do anything like that guy. Let me ask you this. If you had an IRA in the bank and it’s at risk because of the Dodd Frank Law 2010, bank gets in trouble, they can keep it because you’re an unsecured creditor, can they transfer an IRA into what you do? Yeah. So any IRA that you have, you can transfer funds into our IRA or even from an old 401k, you can roll over into an IRA with, with our custodian who’s been around since 1974, you know, regulated and audited. And so, you know, we can’t leverage again your assets.
You’re not considered an unsecured creditor like you are with a lot of these big crypto exchanges. And your assets aren’t cold storage. So it’s, you know, the number one thing is security. Right. Even before making it easy and making it accessible. Like we focus on making sure whatever you’re, you purchase is secure. And that’s going to be your nest egg, right. Or part of your nest egg for retirement. So that’s why we have the ira and, but we also have cash as well. But that, you know, the, the cash trading, it benefits from the same kind of vehicle.
Right. And so you get the same security, cold storage and all that. That’s, you know, that’s part of the advantage Right. Because we started with IRAs and then we went into cash, but we’re still using the same underlying, like, framework that provides that, you know, security. So. And you’re still an unsecured creditor even with, you know, with cash. So, yeah, that’s. Or, sorry, you’re not considered an unsecured. No, I know. That’s a really good explanation. So if people come to you and they know really very little beyond what they’ve heard here in this interview, I know you’ve got a play crypto account where you can do a simulation.
It doesn’t cost any money, but you can see how it works. Yeah. And I know your people will talk to people and answer their questions. You can email us as well. And yeah, we have that play money account where you can click on a few buttons to just get started. And that’s on mydigitalmoney.com and after that, if you like it, you can. It takes a few minutes to sign up for an actual account and it’s pretty easy to use. Well, let’s invite people to find out more. And so how do they get a hold of you? Yeah, so mydigitalmoney.com or you can call 833-636-2008 and we’ll pick up your call during normal work hours.
And you can always email us as well. All the information’s on the website. Mydigitalmoney.com yeah, my digitalmoney.com People, this is the wave of the future. And those of you who are trusting your bank and bearing all your money in the bank, I’m afraid you might end up like my mom did when she went from riches to rags as a little girl in 1929 and lost everything. You know, Guy, I don’t think I’ve ever told you this. On my mom’s side of the family, we’re part of the Ford family, a Henry Ford family. First cousins at that time.
And he didn’t tell them what was coming. Nice first cousin. I remember you mentioned that a long time ago when we first talked. Nice first cousin. And my mom was raised in almost poverty. Now they, my mom and dad were pretty successful. They pulled out of it, but it was a horrible time and, and it was Federal Reserve motivated. So I’m so glad to see you’re having success because the Federal Reserve. I’m a Ron Paul supporter, so I think you know where I fall down on Federal Reserve stuff. Yeah, yeah. And I want to congratulate you for the success you’re having.
Thank you. Service you’re providing for the public. It’s really good. Excuse me. As I. I knew I’d get through the interview, but I didn’t think I’d get through it without coughing. But anyway, long story short, people, yours truly has a little touch of the flu. But I wouldn’t have missed this interview. This was fascinating and I want to thank you for joining us on the Common Sense show. Guy. Thank you, Dave, and feel better. Thank you very much.
[tr:tra].
Author
