Rates are steady, Bitcoin hit six figures (briefly), Arizona passed a crypto law, Coinbase made a $2.9 billion move, and we’ve got listener questions to answer.
Fed Holds Rates, Bitcoin Dances Around $100K
The Federal Reserve decided to keep interest rates unchanged yesterday. That news was met with a bit of volatility in the markets, but Bitcoin briefly surged back above $100,000. That was short-lived, though—it’s down slightly this morning.
ETF Inflows and a Listener Question on Price Impact
Yesterday saw $142 million in ETF inflows for Bitcoin, bringing total institutional inflows into the billions. That led Jace to write in and ask:
“If these Bitcoin ETFs don’t give you actual Bitcoin, how do they help Bitcoin’s price?”
It’s a smart question. No, you don’t directly own Bitcoin when you buy a Bitcoin ETF. You’re buying a share that tracks Bitcoin’s price. But the ETF itself has to purchase actual Bitcoin to match daily inflows. Coinbase and other custodians hold those reserves. That means every dollar into an ETF results in real Bitcoin being bought and stored—so yes, it impacts price.
Why is this good? Because it allows institutions, financial advisors, and average investors to access Bitcoin without managing private keys or setting up wallets. It’s regulated exposure, and that invites serious capital.
M2 Money Supply and the Case for Bitcoin Exposure
Paul McNeal, the Crypto Curator, pointed out the explosion in the M2 money supply. He’s right. Since 2020, we’ve added $7–8 trillion in liquidity. M2 includes savings, smaller CDs, and money market funds. That money is looking for yield—and it’s finding it in assets like Bitcoin, stocks, and gold.
The dollar is weakening compared to other currencies. Tariffs and trade uncertainty are mounting. That’s pushing global capital toward hard assets. Some analysts now predict $120,000 Bitcoin by the end of Q2. Others say $200K or even $250K. I’m sticking with my prediction: $180K top, late 2025 or early 2026.
Arizona Signs Crypto Fund Bill—Kind Of
Arizona Governor Katie Hobbs signed House Bill 2749 into law. But don’t get too excited—this bill doesn’t let the state buy Bitcoin directly. Instead, it allows the state to manage a reserve of unclaimed or confiscated digital assets. Those can be staked by a qualified custodian to earn returns.
Assets have to remain unsold for three years before being transferred to the fund. And the state can’t sell below market price—no shady backroom deals. That’s important.
She did veto SB 1025, which would have allowed Arizona to invest up to 10% of treasury and pension funds into Bitcoin. But New Hampshire just passed HB 302, which permits a 5% allocation into Bitcoin or precious metals. This may be the beginning of a broader state-level trend.
Coinbase Drops $2.9 Billion on a Big Acquisition
Coinbase has agreed to acquire Digital Asset Options Exchange in a $2.9 billion deal—$700 million in cash and 11 million shares of Coinbase stock. This follows news that Ripple has offered between $5–20 billion to buy Circle and USDC.
With regulatory pressure easing under the Trump administration, especially with Lina Khan out, we’re entering a phase of serious consolidation. The big players are locking in their positions.
Grand Theft Auto VI Trailer—Yes, It Happened
It’s been 13 years since GTA V. The new GTA VI trailer dropped and people are losing their minds.
More Listener Questions and Tomorrow’s Preview
Danielle in Florida says: “Come back to Florida!” I might.
We got some requests to talk about different coins—that’s coming soon. Also, TraderCobb joins tomorrow with another segment from his trading course. He’ll break down how to trade without FOMO, how to read the market beyond just charts, and why sentiment still drives crypto.
Crypto Prices – 10:30 a.m. EST
Bitcoin: $99,640
Ethereum: $2,004
XRP: $2.23
BNB: $618
Solana: $157
Dogecoin: $0.187
Litecoin: $92.12
Total Market Cap: $3.12 trillion
That’s the show. I’ll be back tomorrow. Until then… happy hodling, everyone.
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