Crypto Bill Chaos: GOP Forces Vote
45sThe political drama and uncertainty around the CLARITY Act's fate creates urgency and controversy, enticing viewers to learn about potential market impacts.
▶ Play Clip"Delivers on the promise of listing six cryptos, but the '10x' claim is speculative and not backed by concrete analysis."
The video discusses the potential impact of the Clarity Act on the cryptocurrency market, arguing that several major cryptocurrencies will thrive regardless of its passage. The host, Austin from Altcoin Daily, analyzes Bitcoin, Ethereum, Bittensor, XRP, Solana, and others, providing reasons for their resilience and potential for growth.
The GOP is pushing the Clarity Act to a Senate vote despite lacking the 60 votes needed, needing at least seven Democrats or independents to vote yes. Democrats oppose it due to the ethics clause.
Bitcoin will be fine with or without the Clarity Act, as it has grown without global regulation and has a clear product-market fit, with a market cap of $1.2 trillion comparable to Micron Technology.
Bitcoin could easily reach a $10 trillion market cap due to incremental demand and short supply, supported by institutions like BlackRock, Fidelity, and Coinbase through the Bitcoin Security Consortium.
Bitcoin supply in loss indicates a bear market bottom, and Fidelity reports that long-term holder supply reached an all-time high, suggesting that most sellers have already sold, forming a bottom.
Ethereum benefits from the Clarity Act but will do well regardless. BlackRock, Fidelity, and JP Morgan are building tokenized money market funds on Ethereum, and Robinhood chose Ethereum for its layer 2, surpassing Solana in real-world asset holders within 25 days.
Bittensor (Tao) is positioned for growth due to Nvidia's Inception program accepting 21% of its subnets, and its contestonomics model rewards merit. All-In podcast host Jason highlights its open competition model and subnet 118 for shared memory.
XRP works with traditional finance and banks globally, with Ripple expanding into custody, payments, stablecoins, and prime brokerage. The token will be fine without US regulation as it operates in other countries.
Solana gains adoption as Morgan Stanley opens Solana trading for E*TRADE's 8.7 million clients, indicating growing mainstream access.
BNB, Hyperliquid, Dogecoin, Chainlink, and Ondo are also expected to do fine without the Clarity Act, with Chainlink and XRP being more bullish as equity investments.
The video concludes that several major cryptocurrencies will thrive regardless of the Clarity Act's passage, with Bitcoin, Ethereum, Bittensor, XRP, and Solana showing strong fundamentals and adoption. The host encourages viewers to comment on other coins they believe will thrive.
What is the Clarity Act?
A proposed US crypto regulation bill that the GOP is trying to pass in the Senate, requiring 60 votes.
00:01
Why does the host believe Bitcoin will be fine without the Clarity Act?
Bitcoin has grown without global regulation, has a clear product-market fit, and is supported by major institutions.
01:07
What signal indicates a Bitcoin bottom according to the video?
Bitcoin supply in loss and long-term holder supply reaching an all-time high.
03:12
Which companies are building tokenized money market funds on Ethereum?
BlackRock, Fidelity, and JP Morgan.
03:57
What is Bittensor's contestonomics model?
A merit-based system where the best product and adoption get the best economics.
06:12
What is the significance of Robinhood's layer 2 on Ethereum?
It hit number one in real-world asset holders within 25 days, surpassing Solana.
04:43
Why does the host prefer Ripple equity over XRP token?
Because equity in the company is not the same as the token, and the company has a broader business.
09:04
Which exchange is recommended for large trades?
Bitfinex.
10:01
Bitcoin's $10 Trillion Potential
Highlights the massive upside potential of Bitcoin based on incremental demand and short supply.
02:15Bitcoin Bottom Formation
Provides a concrete indicator (supply in loss) that historically marks market bottoms.
03:12Nvidia's Interest in Bittensor
Shows institutional validation for decentralized AI through Nvidia's Inception program.
05:28Solana's Mainstream Adoption
Demonstrates growing traditional finance adoption with Morgan Stanley's E*TRADE integration.
09:32[00:01] >> With two weeks remaining to pass the Clarity Act, left. >> and still seven more votes needed. they're going to pull it out next week. >> The Democrats are panning the revised
[00:14] >> The Democrats are panning the revised Crypto bill as the GOP eyes to push this to the Senate floor to vote regardless. >> So, we need to get this to the floor and going to oppose it, we need to get them
[00:26] >> Meaning, even though we need 60 votes to pass, and the Republicans only have 53, we need at least seven Democrats or independents to vote yes, whether we
[00:38] have the votes or not, it looks like the GOP is going to push this to the vote to a vote to get this on the record, despite how Democrats keep campaigning, you will not pass this bill. You do not have our vote due to the ethics clause
[00:53] >> Look at this Department of Justice. They're completely unserious, first of on them for anything. A lawless Department of Justice cannot oversee >> So, I've been in Crypto for over nine years. I've talked to some of the
[01:07] biggest names on the biggest stages, and planning for a future that has the possibility where the Clarity Act will not pass, which altcoins do I believe will be the best buys with a two to four-year
[01:20] outlook if the Clarity Act will fail. Because Bitcoin, for example, will be fine regardless. I mean, it's managed to grow year after year when there was no regulation on a global scale, it was already regulated for the very first
[01:34] time in history at the beginning of 2024 with the Bitcoin ETF approval, and it's a name brand with a clear product market fit as explained by Anthony Scaramucci on the Scott Melker podcast. >> 1.2 trillion dollars of market cap in
[01:47] Bitcoin, that's the size of Micron Technology. >> Okay. So, I want you to think about it. This asset is one of the best brands ever. It's a global brand, Bitcoin.
[02:00] And it's trading at 1.2 trillion dollars. It could easily be a 10 market capitalization. And it still wouldn't dent It still wouldn't dent the capital market. Yeah, okay.
[02:15] So So that's to me I'm just looking at that incremental demand, short supply, this thing could easily trade to 10 trillion. >> So point is that Bitcoin as an investment, I believe will be fine with
[02:27] or without the Clarity Act. In fact, some of the signal that this is not right in front of our eyes. We are the Bitcoin Security Consortium, leading financial institutions and Bitcoin companies supporting Bitcoin's long-term
[02:42] security. Meaning research on quantum, research on the future, what keeps this thing alive and thriving. BlackRock, Anchorage, Fidelity, Galaxy, Michael Saylor's company, Coinbase, all these very well-respected institutions are
[02:58] getting behind this, yet you think Bitcoin's going away? In fact, today may be a great buying opportunity based on Bitcoin's history. This chart is exactly what people claim they dream about until it actually
[03:12] happens. Meaning Bitcoin supply in loss. Meaning most holders, based on the price, are currently at a loss. This is what always happens in a bear market in a bear market, and it tends to mark
[03:26] around the bottom, especially combined with this just in. According to Fidelity, Bitcoin supply held by long-term holders just reached a new all-time high. Meaning the amount of people that wanted to sell probably have
[03:42] sold, because the only people really still holding Bitcoin today are the long-term holders. This is how bottoms are formed. Another crypto coin that I think is obviously going to do well with or without the Clarity Act is Ethereum.
[03:57] And by the way, Ethereum is one of the altcoins that will benefit the most from the Clarity Act. But either way, BlackRock, Fidelity, and JP Morgan are building tokenized money market funds on Ethereum today.
[04:11] These issuers manage tens of trillions of dollars in assets today. On-chain finance is still early. And if you're asking, "Austin, why didn't they choose Solana? Why didn't they choose my altcoin, my smart contract platform?"
[04:27] I believe that Ethereum's biggest value is the network effect. These major companies want to tap into the network. They want to tap into the liquidity. Also, traditional finance exchange Robinhood has chosen Ethereum for their
[04:43] layer two. Robinhood chain, which is on Ethereum, just hit number one in real-world asset holders within only 25 days of being live on because, you know, the first 30 days, the first 90 days, very volatile in
[05:00] terms of people jumping on your chain, jumping off. But at the moment, things surpassed Solana, which for the last year, almost 2 years, has been the leader in real-world asset adoption. We have the whole Robinhood entity
[05:14] pushing their users onto their chain, which is on ETH. By the way, to stay up-to-date on any of the coins mentioned in today's video, click subscribe to Altcoin Daily. One video per day keeps you informed as a crypto investor. And
[05:28] another coin I think would do better with the Clarity Act, but will be fine without the regulation, without the Clarity Act, is betting on decentralized AI, specifically Bittensor. Because Nvidia, heavily respected
[05:42] Nvidia, is paying attention to Bittensor Tao. Out of 33 total companies, seven subnets, meaning the early stage companies building on Bittensor, were accepted into Nvidia Inception. That's 21% of the companies that Nvidia is
[05:59] helping to incubate, in a sense, are building on Bittensor, using the Tao token. That's subnet 95, also Targon subnet 4, uh Score subnet 44, a robotics
[06:12] company, subnet 49, showing how Bittensor's contestonomics model, basically merit-based, it's a contest. If you have the best product, the best adoption, you get the best economics. How their contestonomics model is
[06:29] positioning it for AI shift to low-cost inference. And also All-In podcast host Jason, hey, he follows me, I follow him, explains why Bittensor, he believes, is only getting bigger. I'm so obsessed with the Bittensor model, where
[06:45] competing for prizes is vetted by validators, open source, open competition is the future. And of course, him referencing how subnet 118, gives AI agents a shared memory layer, letting
[07:02] users move between agents without losing the knowledge and context they have >> I hot swapped from Claude to Hermes, no problem whatsoever, it was fantastic. So, thank you guys. Um I had been running an open Claude in
[07:16] the cloud, and I wanted to switch all that over to Hermes. There's so much stuff that I got over in my Claude, and but I was like, "Oh wait, my Claude's just fire up Hermes and say, "You know, just go uh mind meld with my Claude via
[07:29] Ditto." And all of a sudden, I know kung fu. It knew everything that my old >> Just another example about how decentralized AI, again they're choosing to build on the Bittensor network, is is is a no-brainer. I think another obvious
[07:44] crypto coin that is going to do well regardless of the Clarity Act. Again, all these would only do better with the Clarity Act, but will do good with or Clarity Act, but will do good with or without clarity is XRP due to they're
[07:56] already working with traditional finance, the banks, due to their legacy almost grandfathered in at this point. And all the building that has taken place since their inception around 2013.
[08:09] So, in 2013, Ripple was just a payments company. Today, it spans custody payments, native stable coins, treasury management, and prime brokerage all under one roof. >> One of the really exciting things
[08:24] we're referring to it internally as one Ripple, but this collaborative flywheel that's starting to happen. I don't think there's any other company like us today that has a native payments business, which was our origin story back in our
[08:36] together with a custody business both in terms of custody software, the XMedica business, a managed custody business through the the standard custody, a this treasury management software business, now the trading and prime
[08:51] brokerage business, with a very close affiliation with everything that's happening on the XRP ledger and all the tokenization, RWA activity being done there, uh the lending protocols. You put all those together and we're able to do
[09:04] things that I think others are not. >> Honestly, I'd much rather invest in the equity of the Ripple company versus the token because equity in Ripple the company is not the same as the token, but I do think XRP the token will be
[09:17] fine if no US regulation is passed because again, XRP is working globally and it's really just the US that is suffering at the moment. Other countries are regulated and XRP is working in other countries. And of course, due to
[09:32] network effect, due to a better product, I I Solana is gaining adoption regardless. Solana gains mainstream access as E*TRADE expands their crypto services. So, Morgan Stanley opens Solana trading
[09:47] for their 8.7 million E*TRADE clients. This move signifies a growing trend in crypto adoption. Again, in this case, specifically, they chose SOL to buy, sell, or trade any of the coins mentioned today on an exchange with
[10:01] especially if you're putting a big money, I recommend exchange partner Bitfinex. Again, you want to be able to get in, get out, get access with better liquidity. And use my code
[10:15] linked down below for a limited time to get a special promotion just for you. Which brings me to my final coins that I think will do fine regardless. Number one, I'm going to choose BNB because they're not really that big in America.
[10:28] Coinbase. So, they definitely have American audience. really need the Clarity Act. They'll be Uh Solana, we said. I think hyper liquid, it's newer, it's
[10:43] obviously going to be fine. Although, again, regulation in America is a big globally. Dogecoin, obviously not going away. When excitement comes back in, Dogecoin is the coin of the Degen or the people.
[10:57] Chainlink. I think it'll be fine regardless. Although, I think much like XRP, I'd be much more bullish owning equity in the company of the Chainlink Labs or Chainlink Foundation versus the
[11:11] I like the equity, but either way, I think the token is not going away. I think getting bigger. And maybe also Ondo. If I missed a coin, comment down below which coin you believe will thrive with or without the Clarity Act and why.
[11:26] Responding to as many comments as I can. Like I'll be seeing you tomorrow.
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