- yesterday
bitcoin millionaire, how to buy bitcoin, asking crypto millionaires, how much hbar to be millionaire, elliotrades bitcoin, bitcoin prediction, bitcoin explanation, bitcoin analysis today, bitcoin mining changes, bitcoin analysis, all bitcoin mined, bitcoin price prediction, bitcoin live, bitcoin gone, bitcoin evangelism, bitcoin today, crypto millionaire, bitcoin, bitcoin price prediction 2021, bitcoin price prediction 2025, michael saylor bitcoin, bitcoin price analysis, how many bitcoin, 1 bitcoin, millionaire
Category
📚
LearningTranscript
00:00So imagine opening your banking app and seeing a Bitcoin tap.
00:04Treasury Secretary Scott Besant says the launch of these dollar peg stable coins
00:08could unlock a $2 trillion market.
00:11And that's because the OCC just allowed banks to hold crypto.
00:15And the Senate passed the Genius Act to integrate the multi-billion dollar stablecoin market
00:21into the U.S. economy.
00:23This legislative win for the crypto industry, the Genius Act passing in the Senate earlier this week,
00:27the bill establishing a federal framework for stable coins, and now I'm going to face a vote in the House.
00:32Stable coin legislation is expected to clear the Senate this week.
00:36Stable coins underpin most of the $3.3 trillion market for Bitcoin.
00:40And the best part is that it's actually going to have real rules and regulations to protect consumers.
00:46And because all of this is happening, CEOs of major companies are starting to talk about it.
00:52We've been embracing and building for years, preparing for this moment.
00:58The Genius Act has now passed the Senate, as you know, and is expected to pass the House.
01:02I think that will give regulatory clarity to stable coins.
01:06And if stable coins become a mode of currency that people want to embrace around the world,
01:12we will enable that on the Visa system and scale that to those billions of endpoints.
01:18That's what you need to do well in payments. That's what Visa does better than anybody in the world.
01:22Now, here are the four game changers that I want you to know about that are happening right now.
01:27The Genius Act, the Clarity Act, the Bitcoin Act, and the Federal Reserve's own green light for banks to get involved.
01:34Pretty soon, we're going to be able to easily send stable coins across different networks,
01:39making instant, low-fee payments as easy as sending a text message.
01:44And what this will do is it's going to build a bridge between the legacy banking system
01:49and the $200 billion stable coin market, and that will have huge consequences on assets like Bitcoin.
01:56JP Morgan announced its own stable coin-like product called JPND.
02:01Payments firm Fiserv announced a stable coin to pair with the 90 billion transactions that it processes every year.
02:07And even Walmart and Amazon are reportedly looking into their own tokens.
02:11There's a lot that's going on, and in today's video, I'm going to explain each of these changes
02:16and how banks like the Federal Reserve have quietly rolled back their crypto restrictions
02:21and show you exactly what this will mean for your wallet, your investment strategy,
02:26and the future of not just U.S., but global finance.
02:31I want you to be ready for the next era of banking.
02:33So with that said, let's get into it.
02:36Hi, my name is Andri Jik. Hope you're doing well.
02:38Come for the finance and stay for the crypto.
02:39This video is going to have a lot of complicated acronyms and banking words
02:44you might have never heard before, but I'm going to try to explain them as I go.
02:48So first, stable coins.
02:49Stable coins are meant to be digital dollars.
02:52In other words, they are cryptocurrencies that try to maintain a one-to-one ratio with the U.S. dollar.
02:59So one stable coin is always redeemable for one real dollar.
03:04And because they track the dollar, stable coins don't swing 10% or 20% in value in a single day
03:11like something like Bitcoin might.
03:13They trade at roughly $1, give or take a couple cents.
03:17Now, why does that matter?
03:19It matters because stable coins let you move money instantly, 24-7, anywhere in the world.
03:26No bank holidays, no multi-day wire delays, and with fees that are a fraction of the cost.
03:33You can pay rent, send dollars to family overseas, or move money between exchanges
03:38without converting back to dollars every single time.
03:42Now, in the world of decentralized finance or DeFi, stable coins are the on and off ramp
03:49for everything from lending and borrowing, stable coins give us the stability and familiarity
03:57of the dollar, and up until this point, they were not a big part of the U.S. economy.
04:02But that's all about the change.
04:03Before Congress ever wrote a single line of crypto legislation, regulators flipped the switch
04:09on May 7th, 2025.
04:11The OCC dropped Interpretive Letter 1184, which officially told nationally chartered banks,
04:18you may custody and transact crypto under our existing safe and sound rules.
04:24OCC-regulated banks may provide custody services, including the safekeeping and secure storage
04:31of cryptocurrencies and other digital assets, all on behalf of their customers.
04:37That moment is what gave banks the green light to hold Bitcoin and stable coins, and it set
04:43the stage for all the major bills that came after it, which I'll help explain.
04:48So first, let me start by explaining the OCC's Interpretive Letter number 1184.
04:53So the OCC, short for Office of the Comptroller of the Currency, basically the OCC is the federal
05:00agency that gives out banking licenses, and it makes sure that banks are following all the
05:06rules that banks are supposed to follow.
05:08Now, when you hear nationally chartered banks, it means institutions licensed directly by the
05:14OCC, aka approved.
05:17And under this guidance, any bank with an OCC charter, which are most of the major banks
05:23we bank with, can custody or allow the deposits of crypto assets under their safe and sound
05:30banking standards.
05:31It's a long way of saying that the major commercial banks of the U.S. are approved and can now hold
05:37Bitcoin and stable coins and other tokens in secure cold storage vaults.
05:42They'll be able to buy and sell orders at your direction the same way they do with stocks when
05:48you call your bank.
05:49And they can even stake proof of stake tokens to earn some interest as long as they have
05:55risk management policies in place.
05:57They're following all the laws of anti-money laundering rules.
06:00And because of all these changes, major custodians have already filed applications to be able
06:06to do this, which tells us bank-backed crypto custody is almost a guarantee at this point.
06:14It's not here yet, but it's coming.
06:16In a nutshell, what all of this does is it sets the stage for the U.S. economy to integrate
06:22digital assets with our dollars and deposits.
06:26But this is just the opening move.
06:28Next, I want to show you the Genius Act and how it's going to integrate this
06:32multi-billion dollar stablecoin market into the economy.
06:36And speaking of integrating crypto into everyday life,
06:39did you know that it's possible to earn Bitcoin without ever buying it?
06:42That's what I've been doing with the Bitcoin credit card by Gemini,
06:45which is today's sponsor and actually a card I've been using for a while now.
06:49All opinions are my own and we're not influenced by Gemini.
06:52I use the credit card like any other regular credit card for gas and groceries,
06:56and I earn Bitcoin every time I use it.
06:59It has no annual fees and you can see the rates and fees in the description for more info.
07:04But this credit card gives you up to 4% back in over 50 cryptocurrencies instantly.
07:10You can choose which one you want.
07:12Personally, I have it set to Bitcoin.
07:13That's 4% on gas, transit and rideshare, 3% on dining, 2% on groceries and 1% for everything else.
07:21It's a MasterCard world elite, so I've used it internationally with no issues.
07:26And here's the magic.
07:27You're investing as you spend.
07:29In fact, according to Gemini, cardholders who earned and held their Bitcoin for one year
07:33saw an average appreciation of 176%.
07:37Those are not your typical credit card points.
07:39So if you're interested, click the link in the description or go to Gemini.com forward slash Andre
07:43and get $200 in Bitcoin when you spend $3,000 in your first 90 days.
07:47And that's one way to front run the future of finance while doing literally nothing different.
07:54Thank you, Gemini, for sponsoring this segment of the video.
07:56And now let's get back to it.
07:57So the Genius Act, which stands for Guiding and Establishing National Innovation for U.S. Stablecoins,
08:03is not just another crypto bill.
08:05It's the first time Congress has created a framework for stablecoins.
08:11Senator Cynthia Lummis and Senator Sherrod Brown created the bill.
08:15And surprisingly, it has a lot of support from all sides.
08:19In the Senate, it passed with a 6830 vote, which is one of the biggest margins for a textile
08:24piece of legislation.
08:26And here's exactly what it does.
08:28First, it says that only federally insured banks or non-bank firms approved by the OCC,
08:35remember the same agency we just talked about, can issue payment stablecoins.
08:40So only banks and institutions approved by the OCC can integrate these stablecoins.
08:46Number two, full reserve backing.
08:49Instead of fractional reserve banking, which is the system we run on today, stablecoins have
08:56to be backed one-to-one by high-quality liquid assets like cash or short-term treasury bonds.
09:04And they have to be kept in separate reserve accounts at a federal reserve bank or equivalent.
09:09The third thing it does is it says issuers will have to publish a third-party audit each month,
09:18proving their tokens are fully collateralized.
09:22Now, collateralized is just a fancy term for backed by something of value.
09:26So these tokens can't just be magically printed out of thin air.
09:30They have to be backed by real value.
09:32And this is good.
09:34Now, number four, stablecoin programs have to follow the Bank Secrecy Act, meaning they have
09:41to follow what's called KYC and AML.
09:44And they have to follow the travel rule standard.
09:47By the way, travel rule was created so that bad actors can't send money anonymously.
09:52Because every link in the transfer will have to know who started it, who's getting it,
09:59just like with a traditional wire transfer.
10:01You know how you have to put in a lot of that info for a wire transfer?
10:04Same idea here.
10:06Now, once the Genius Act becomes law, of which there's a real chance that it could,
10:11stablecoins should be just as reliable as your checking account.
10:15But that's only half the story.
10:16Because next up, I want to help explain something called the Clarity Act.
10:20Now, the Clarity Act is a bill from the House that finally draws hard lines of what is what
10:27and what part of the government manages it.
10:29Now, before Clarity, if you remember, crypto projects live in a weird gray zone.
10:34Like some tokens got hit with the SEC.
10:36Others claimed they were commodities.
10:38But nobody knew where the rules started or where they ended.
10:42And because of that, it was easy for the previous SEC administration to sue crypto companies
10:48because there weren't any clear rules.
10:51This bill changes all of that by breaking it down into three clear buckets.
10:58Securities, digital commodities, and payment stablecoins.
11:02Now, the first is securities, which is any token sold as an investment contract.
11:07Remember the 2017 ICOs promising they're going to be the next Bitcoin?
11:11Future profits, right?
11:13That falls under the SEC or Securities and Exchange Commission.
11:18And that is their realm to patrol.
11:21Now, if a token is classified as a security,
11:24then exchanges and brokers that sell them will have to register like they would for the stock market.
11:31They have to file regular disclosures and follow anti-fraud rules.
11:36This is good.
11:36Now, the second bucket is digital commodities, which are native blockchain assets.
11:42The biggest one is obviously Bitcoin and most layer one tokens.
11:46And that will be managed by the CFTC.
11:49Now, platforms that trade digital commodities will have to register as futures or swaps dealers.
11:57And they have to abide by market regulations and separate customer assets.
12:01Now, the third bucket is payment stablecoins.
12:04And these get oversight from both agencies, the CFTC and the SEC.
12:10And it's tied back to the Genius Act framework we just talked about.
12:14So both regulators have to make sure that they stay fully backed and consumer safe.
12:20Now, you might also be wondering, well, what if companies try to get around these rules by incorporating overseas?
12:27We've seen a lot of that happen in crypto incorporated in the Cayman Islands, right?
12:31They thought of this, and here's how they want to protect against that.
12:34Representative French Hill and Representative Maxine Waters built a bipartisan coalition that prevents U.S. projects from going overseas.
12:44And the bill also has strong support, and votes are expected really soon, perhaps the next week of July.
12:50So once the bill is passed, the government will know exactly which rules apply to your favorite tokens.
12:58But what this act ultimately does is it's going to create new exchanges and make our favorite existing ones hopefully safer.
13:06And token launches will be much more clear, and consumers will have more protection.
13:10That's the hope.
13:11So that's the second act.
13:13And then there's the third act, which is the Bitcoin Act, which is the proposal to make Bitcoin an official U.S. reserve asset.
13:21So imagine the U.S. Treasury holding up to a million Bitcoin along with gold.
13:26So I'll explain exactly how realistic that is, who's backing it, and what it could mean for Bitcoin's price.
13:32So the Bitcoin Act was introduced by Senator Cynthia Lummis in March 2025, and it would make the U.S. government a buyer of Bitcoin, essentially creating a strategic Bitcoin reserve along with gold.
13:44And here's what you need to know.
13:46This act calls for the U.S. Treasury, in combination with the Federal Reserve Bank, to buy up to a million Bitcoin, which is roughly about 5% of its total supply.
13:55Now, unlike most government spending, though, this would not need new taxpayer dollars or debt.
14:03Instead, it would shuffle the Treasury or Fed holdings into Bitcoin.
14:09Now, in practice, that means the U.S. Treasury could take parts of its cash holdings, its short-term treasuries, or other liquid assets like some of the overnight reverse repo balances or excess cash in its general account,
14:21and then swap them for Bitcoin on the open market.
14:25And because these assets are already on the U.S. balance sheet, no new tax dollars are needed to buy Bitcoin.
14:32So when people are like, well, I don't want my taxpayer dollars funding Bitcoin, right?
14:37They won't be.
14:38The bill is not super specific about how they're going to do this, and that is very much on purpose to give them as many options as possible in the future.
14:47Now, to protect the assets, though, the bill also talks about a decentralized vault network.
14:52So think of federal-grade cold storage with multi-layer security and strict audit requirements and probably physical security protocols, I imagine.
15:02All of that stuff.
15:03The Bitcoin Act also says that private citizens will always have the rights to buy, hold, and self-custody Bitcoin without government restriction.
15:13Now, the people who support this bill argue this reserve will actually help the U.S. have more financial strength, it'll help against inflation, and it's a way to diversify our $37 trillion debt.
15:32But the real question is, though, how realistic is all of this anyway?
15:38And the answer is, I don't know.
15:40The bill has strong backing, and Congress has held hearings, and at first people were really excited, but I think the full Senate passage isn't necessarily guaranteed at this point.
15:49And the White House hasn't really said that they're going to 100% support it yet, either.
15:53It hasn't passed anywhere, so realistically, maybe a slimmed-down version might appear in the future.
15:59But even if a fraction of the Bitcoin Act passes, like especially the one about being able to self-custody without government intervention, would be huge.
16:09And it would mean Bitcoin is here to stay again and be a part of the U.S. economy.
16:13Technically, it already is, since the spot ETF approvals, but this is why, despite all the scary headlines that we've been seeing on the geopolitics level, Bitcoin has been really steady, and that is really incredible.
16:27There's more and more buyers every single day, like governments and even Bitcoin treasury companies.
16:33And also, I'd argue that some of the biggest news is actually happening behind the scenes, and it's something that Jerome Powell recently said about crypto.
16:41So in April of this year, the Federal Reserve withdrew its 2022 letter, and that letter is what forced banks to get pre-approval before touching anything to do with crypto.
16:54And now, all of that is changing.
16:57That means banks can now move forward on custody and trading and even stablecoin programs without waiting for a thumbs-up from the Federal Reserve.
17:06And that's really what has allowed all of these changes to take place that I just explained.
17:10It's what gives them a chance at becoming law.
17:13And, believe it or not, the person who made all of this possible is Jerome Powell, the guy in charge of the Federal Reserve.
17:20And so, banks are free to provide banking services to the crypto industry, to crypto companies, and banks are also free to conduct crypto activities as long as they do so in a way that is, you know, protective of safety and soundness.
17:35Jerome Powell went on record and said, banks are free to conduct crypto activities, which is good.
17:41But I think the one thing that I'll have to say, remember the risk.
17:45That freedom will come with a major burden, which for the banks is their reputation.
17:49Because banks have spent decades and trillions of customer dollars building trust as these companies that protect and manage our savings.
17:59But now, by touching crypto and stablecoins and a lot of these unknown coins, they're stepping into an unknown world that a lot of people, I think, still associate with hacks and scams and, you know, risk.
18:13And that's why I think banks can't treat crypto custody like it's just another product.
18:18They'll need to be on top of it.
18:20Hopefully, they're aware of that.
18:21But that's why I think this will probably take some time.
18:24Once it is here, though, I think what Michael Saylor said about the price of Bitcoin is 100% accurate.
18:30I'll leave it at this thought, which is when your bank tells you they'll buy Bitcoin for you and they'll make it really easy and you can do it on the phone, it'll cost you a million dollars of Bitcoin.
18:41By the time your bank is ready to custody Bitcoin and they decide to call you about it, the price will have already gone to the moon.
18:50For now, though, the world doesn't know that this is quietly happening behind the scenes.
18:55And that's why there's still such a gap between Bitcoin's current price and where a lot of smart money thinks it will be in the near future.
19:03That's also why I've been dollar cost averaging into Bitcoin and self-custodying it.
19:08And if you want to learn how to do that step by step, you can find it in the link down below.
19:12You can use coupon code ANDRE40 to get an additional 40% off the four-hour class.
19:17But as always, I'd love to get your thoughts on what you think will happen and which bank will be the first to do this.
19:23I hope you have a wonderful rest of your day.
19:25Smash the like button.
19:26Subscribe if you haven't already.
19:27I'd love to see you back here next week.
19:29I'll see you soon.
19:30Bye-bye.
19:30Bye-bye.
Recommended
10:21
3:23
1:05
2:56
10:47
15:34
14:52