🧠 Terrorists love Bitcoin

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GM - Arsen here!

Welcome back to Bitcoin Therapy. The Bitcoin newsletter that’s like your aunt Helen, who had a few too many glasses of wine at a family reunion - raw, unfiltered, and dropping truth bombs.

First, happy and relaxing Sunday to 2.388 patients reading today. 👋 

I have fewer subscribers than last week because I removed inactive readers. If you’re a real person and want to keep reading, reply “I’m a real boy” to this email.

Alright, here’s what I got for you this week:

  • Bitcoin ETF is ALMOST here

  • US Senator: Bitcoin 🤝 Terrorists

  • The bull market is here 🐂

Estimated read time: 3 minutes and 21 seconds

BITCOIN ETF IS JUST AROUND THE CORNER

Unless you live under a rock (which is fine too), you noticed that the Bitcoin price went ballistic this week.

Why? Because Bitcoin ETF is closer than ever to being approved in the US.

Here are 2 reasons why:

  1. BlackRock got a CUSIP number

“what’s a cusip?”

Well, it’s a unique ID that gets assigned to securities so they can be tracked.

This also means that BlackRock can now start “seeding” (not that kind of seeding, you pervert), aka buying Bitcoin for the ETF.

What this means: BlackRock has made good progress with the ETF. The launch might come sooner than people expected…

  1. BlackRock ETF listed on DTCC

While ‘DTCC’ sounds like some sh*tcoin, it actually stands for ‘Depository Trust And Clearing Corporation.’

They’re a financial service company that provides clearing and settlement offerings for TradFi markets (such as NASDAQ).

On Monday, people noticed that a “new” shiny ticker appeared on the DTCC website: $IBTC (iShares Bitcoin Trust)

Hey BlackRock, Apple wants their ticker back…

Fun fact: BlackRock's ETF ticker was later removed from the DTCC website. Then everybody and their dog visited the website, which caused it to crash (don’t worry, they added it back later).

Fun fact x2: Later this week, the DTCC spokesperson came out and said that the Blackrock ETF has actually been on there since August. Lmao.

Fake news, but Bitcoin pumped anyway.

-

So, what will happen to the Bitcoin price after the ETF goes live?

No idea, but here’s what insiders say:

  1. Galaxy Research: “Bitcoin ETF could draw over $14 billion in investment inflows in the first year”

  2. CFTC Commissioner Summer Mersinger: “There's a lot of interest for a spot Bitcoin ETF”

Also, don’t forget what happened to the price of gold when the gold ETF launched. 👇

And just a reminder: there are ~10 ETF applications the SEC is considering.

The same people who have been shitting on Bitcoin for years now want in on the action.

PAPER BITCOIN BACKUPS SUCK

I stand by the title. Why? Because securing your generational Bitcoin wealth on a piece of paper is… let’s just say, not very smart.

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BITCOIN 🤝 TERRORISTS

Lizze, Lizzie, Lizzie… you’ve done it gain.

US Senator Elizabeth Warren just sent a letter to US Congress claiming that over $130M crypto has been used to fund Hamas (not the chickpea dip, the terrorist organization).

The issue? The $130m number is totally bogus. And Warren won’t stop pushing this misinformation.

Here’s a TLDR of how it went down:

  1. Wall Street Journal wrote a few articles citing Elliptic (a blockchain analysis firm) that Hamas raised $93M in crypto

  2. Warren sent a letter to Congress citing this article, claiming that Hamas raised “over $130m” in crypto

  3. Over 100 members of Congress signed the letter, which asks for a crypto crackdown

Even Chainalysis themselves came out and said that the WSJ numbers were wrong and that their research was being "misrepresented." The actual figure is closer to $450,000.

Senator Warren’s response?

No retraction. No clarification. Just silence.

The impact of this misinformation is BIG:

  1. Warren dismisses Elliptic’s clarification as “lobbying,”

  2. NYT sends out this news via email to millions of people

  3. Other major news outlets report on this too

Result: millions of Americans think Bitcoin = bad

And I doubt the truth will ever reach Washington DC.

DC doesn’t care: this is just another attempt to distract from how terrorist organizations are funded via a traditional financial system.

Anyways, the “Bitcoin is funding terrorism” narrative is so dumb. I can’t think of anything worse to use than extremely transparent Bitcoin to fund terrorists.

Smh…

THE BULL MARKET IS BACK

Yes, I said it. And before you accuse me of being a hopium dealer, hear me out.

Here are 3 reasons why:

  1. ALL BITCOIN DCA’ers are profitable

Yes, ALL. The match checks out 👇

This proves the power of long-term DCA (dollar cost averaging).

More people DCA’ing = more $$$ flowing to Bitcoin

And it doesn’t matter if you do it daily, weekly, monthly, or every time Peter Schiff tweets about Bitcoin (which is often) - what matters is that you do it.

  1. “Bitcoin ETF” Google Searches trending

Now, what do you do when you want to know about something? Pick your answer 👇

What do you do when you want to know about something?

Login or Subscribe to participate in polls.

I am #teamgoogle on this one. And they tell you exactly how often people are searching for something.

And it turns out “bitcoin ETF” is a hot topic on Google right now.

More interest = more bullish price action

  1. Bitcoin is decoupling from equities

No, decoupling is not when a couple breaks up. It’s when two assets stop being correlated.

Usually, Bitcoin price moves together with stocks:

  • Stocks go up —> Bitcoin goes up 📈

  • Stocks go down —> Bitcoin goes down 📉

But Bitcoin got tired of following stocks, said ‘fuck it,’ and went its own way.

While the whole market is correcting, Bitcoin and gold are rallying.

This means the investors are ‘fleeing to quality’ and seeing Bitcoin as a safe-haven asset (which it is).

I’m not bullish.

You’re bullish.

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See you next Sunday,

Bitcoin Therapy Team

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