Episode Details

This is part 35 of the crypto series. Is a new Crypto Winter upon us? Bitcoin has witnessed its worst drop in three years, dropping to as low as 60,000. Some market analysts believe Bitcoin could drop as low as 40,000 before it stabilizes. Why is Bitcoin falling? It could be a combination of things. Profit taking, short selling, and the uncertainty around crypto legislation. We also consider crypto holding companies and where crypto legislation currently stands. Michael Saylor’s company Strategy is in serious trouble as the price drop of Bitcoin falls below their average purchase price of $76,000. Treasury Secretary Scott Bessent delivered remarks last week in which he stated that he is a champion of community banks and wants to avoid any deposit volatility resulting from digital assets market structure legislation. This episode reviewed multiple articles from The Wall Street Journal, CNBC, and Investopedia.