Episode 1193 of Bitcoin And . . . is LIVE!
Topics for today:
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https://www.theblock.co/post/375278/binance-bans-more-than-600-accounts-over-unauthorized-third-party-tools
https://atlas21.com/japan-ready-to-open-the-doors-to-digital-assets-for-banks/
https://cointelegraph.com/news/blackrock-bitcoin-etp-uk-fca-approval
https://atlas21.com/bull-bitcoin-launches-bull-wallet-on-ios/
https://bitcoinmagazine.com/news/sp-500-and-gold-can-now-be-traded-in-bitcoin-terms
https://bitcoinmagazine.com/markets/charles-schwab-spike-in-crypto-interest
https://cointelegraph.com/news/strategy-inches-700k-bitcoin-18-8-million-buy
Get You're Free Comfrey Owner's Manual Here:
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Topics for today:
- NY Hates Bitcoin . . . Again
- Japan Allowing Banks To Hold BTC
- Blackrocks' Bitcoin ETP Now On London Exchange
- Charles Schwab Sees Massive Spike in Bitcoin Interest
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Today's Articles:
https://decrypt.co/344947/ny-democrats-propose-companion-bill-targeting-proof-of-work-mininghttps://www.theblock.co/post/375278/binance-bans-more-than-600-accounts-over-unauthorized-third-party-tools
https://atlas21.com/japan-ready-to-open-the-doors-to-digital-assets-for-banks/
https://cointelegraph.com/news/blackrock-bitcoin-etp-uk-fca-approval
https://atlas21.com/bull-bitcoin-launches-bull-wallet-on-ios/
https://bitcoinmagazine.com/news/sp-500-and-gold-can-now-be-traded-in-bitcoin-terms
https://bitcoinmagazine.com/markets/charles-schwab-spike-in-crypto-interest
https://cointelegraph.com/news/strategy-inches-700k-bitcoin-18-8-million-buy
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[00:00:02]
David Bennett:
It is 11:04AM Pacific Daylight Time. It's the, god, October 2025. This is episode eleven ninety three of Bitcoin, and I am late as I always am on Mondays, generally speaking anyway. Mondays is when I have a Toastmasters meeting where we convene and throw the gavel at 06:30AM. That's right. And I have to be there at six to set everything up. So by the time I'm done at 07:45, I've literally done more than most people do all damn day. Well, not most people, but a lot of people. It's sort of like that old army commercial. Number seven ranking all the way down to number 14 by what was like two points.
In the last two minutes of the game, it was, talk about disappointing. But if you wanna be disappointed even further, the first news up for the day is New York Democrats proposing a proof of work mining banning bill or something like that. They're they're they're on about Bitcoin. New York doesn't want Bitcoin. They've done everything that they can do, and they're going even further. And we've got more. It's all the news you can use right here on The Bitcoin And Show. I'm your host, David Bennett. We're gonna be talking about Binance as well as Japan, and BlackRock is also in the news, by the way.
Bull Bitcoin, released their wallet on iOS. It is now available everywhere. And I think that they've got a deal worked out with the liquid network, over there at, who's who the hell is it? Adam Back and his crew over at Blockstream, put up the liquid network a few years ago. It's gotten it's, you know, it's it's it's a side chain, but it really hasn't gotten that much adoption. But I I guess bull Bitcoin is getting into it. Maybe, we'll hear more about it later. The S and P 500 will be in the news as well as Charlie Schwab. That's right. Our old good friend, Chuckie. They're gonna be doing something with Bitcoin. And Michael Sailor, of course, is gonna round out the, the episode. Just just because, dude. Why not? Alright. So New York Democrats propose a companion bill targeting proof of work mining.
They're specifically targeting proof of work mining, viz may have been bringing it to you out of decrypt. New York lawmakers launched a legislative strike against crypto mining on Friday, including a companion legislation to a senate bill that would force proof of work miners to pay high taxes based on their electricity consumption. On Friday, assembly bill a nine one three eight was introduced in the New York State Assembly by Democratic Assembly member Anna Kellis and referred to the ways and means committee. The bill would impose a excise tax on electricity used by businesses engaged in that dirty, awful, nasty digital asset mining under the proof of work authentication method.
This measure is a companion to the s eighty five one eight bill introduced earlier this month by state senator Liz Krueger, chair of the senate finance committee in the New York state senate. So Bitcoin getting it from both ends. Both bills pursue identical goals as they require crypto mining companies to pay into New York's energy affordability programs based on their electricity consumption. Operations consuming up to 2,250,000 kilowatt hours annually would pay nothing according to the bill. The rate then jumps 2¢ per kilowatt hour for consumption over 2,250,000 and blah blah blah. It goes on until you get to 5¢ per kilowatt hour for consumption exceeding 20,000,000 kilowatt hours annually.
That's you know, do the math on 5¢ per, kilowatt hour when you're, doing 20,000,000 kilowatt hours annually. It's that's ends up being quite a big number. Quote, this bill ensures that the company's driving up New Yorkers' electricity rates pay their fair share. So tired of hearing this word this phrase bandied about while providing direct relief to families struggling with rising utility costs, senator Krueger said in a statement when introducing her bill. Mining facilities powered entirely by renewable energy systems and operating off grid would be able to dodge the tax, a provision designed to encourage sustainable practices within the digital asset sector as per bill a nine one three eight. Excuse me. All collected taxes, interest, and penalties would flow directly to energy affordability programs administered by the Department of Public Service in consultation with the Energy Affordability Policy Working Group.
If passed, the tax would take effect 01/01/2027, applying to all taxable years thereafter. Both the senate and assembly versions remain in committee. The move resembles those made by Northern European countries like Norway and Sweden. Nick Puckrin, crypto analyst analyst sorry, analyst and cofounder of the coin bureau told Decrypt. While those were not explicit bans, he said, quote, the removal of previous advantages essentially made mining unavailable. We may be seeing the same thing playing out here, and the result will be the same. The irony is that moves like these don't tend to lead to cleaner practices. They just push mining operations out of state, Puckering said.
Asked whether mining operations would simply relocate to more crypto friendly states, Puckran said it would be the obvious answer as moving will be easier and cheaper than trying to comply with punitive regulations, and there are still plenty of much friendlier options within The US. Let's just be clear. It ain't exactly that cheap to pull up stakes and move your entire mining operation to someplace like Texas. And Texas would be would love to have them. Texas, at this point, is like a a miner's free for all. Right? But still, pulling all those things off the shelf, packing them all up, moving them all out, negotiating new electricity contracts, citing a new site. It's not like you can pick up the building and its foundation and just, I don't know, helicopter it into Texas. You gotta leave all that shit behind. So it's it's not it's not an easy move.
It's still punitive insofar as they gotta they're gonna have to expend a lot of money to be able to make that move. So I kind of expect some of these guys to try to stick it out as long as humanly possible. And maybe during that time, they renegotiate all these contracts and and make make plans to move. But I I doubt that if this thing passes, that you're just gonna see mining companies shut down operations and then just immediately move. Right? So but they have some time. They they they'll have they'll have a little bit over a year to figure this shit out if this thing passes, but we'll again, as always, we'll have to see.
But Binance, playing a little bit of dirty pool old man, Binance bans more than 600 accounts over, quote, unauthorized third party tools. Naga Avayan Namayo has got this one for the block. Binance has banned more than 600 user accounts for employing unauthorized third party tools, the exchange said in a statement. The centralized crypto exchange added that effective immediately, accounts found to be using such tools or otherwise violating the terms of Binance exchange, Binance wallet, or Binance alpha may may face permanent disqualification from all Binance activities and forfeiture of any profits earned in alpha events, quote, following a review by our team. Over 600 accounts were banned last week for using unauthorized third party tools. Yes. We know. Please. Let's let's move on. While Binance did not detail the specific tools implicated, recent official guidance and user safety posts by the company warn that unapproved trading bots or scripts, API misuse, and account sharing can trigger suspensions under the platform's terms of use. Those terms, which were updated October 10, govern all Binance activities with product specific rules applied to features like alpha, Binance's pre listed, listing token discovery venue integrated with the Binance wallet.
The exchange also called on users to report suspected abuse, offering a bounty, oh god, of up to 50% of reclaimed profit profits to the first verified reporter in each case. In other Binance related developments, the exchange recently completed its acquisition of South Korea's GoPacks. What whatever. I don't that that's not what's going on here. So if you ever thought about the crypto exchange stuff being a great big casino, which you should, that should also bring to mind something else, gaming. This is the exact same kind of terms of service that you see when you get an account going on with some, you know, MMO, like a massive multiplayer online role playing game or something like that.
The employment of bots, you know, to run around and just do mining for you so that you can trade it to another character. They're called mules. Right? So this this is the exact same thing, and it's funny to see the exact same mindset of players or, I'm sorry, seasoned investment professionals using the exact same crap, you know, that gamers would use. But, yeah, I don't really blame them. I mean, why wouldn't you? If you can automate something like this, then you are going to automate something like this. You know? Just don't get caught because you're gonna get banned and all your money's gonna be absconded with.
Maybe they'll drop it into Binance will drop it into a Japanese account because Japan is now ready to open the doors to digital assets for their banking sector. Atlas twenty one has got it for you. According to local media reports on October 19, that was yesterday, Japan's financial services agency is considering allowing considering allowing domestic banks to trade and hold Bitcoin and other digital assets. As reported by the Yomiuri Shimbun newspaper, the financial watchdog intends to launch discussions to reform the current guidelines that prohibit national credit institutions from owning digital assets.
The goal of the proposed regulatory reform is to establish a system that would allow Japanese banks to buy and sell Bitcoin and other cryptocurrencies in a way in a way similar to how they currently trade stocks and government bonds. The FSA is also evaluating the possibility of authorizing banks to register directly as exchanges. Now this move would aim to simplify crypto market access for retail investors, pausing just to say, yeah, that's gonna be a little dangerous because you're gonna be able to trade directly out of your your savings account if you're a Japanese citizen. So wow.
There should be some gateways. You know, there really should. There I know that there's, like, traders out there who who would like like to see my head on a chopping block for saying the following, but you there really should be some gatekeeping between your stash of of liquid capital and being able to trade it directly on the market. Like, you should be able to go to your bank and say, look, I need $10,000. And you take that and then you move move that to some dipshit exchange, and then you can lose it all there. But at least at least there's a gateway that you have to pass. Right? A mental check. Do I really want to gamble all my money away on shit coins?
Yeah. You know what? I do. Oh, okay. That's your decision. But being able to wake up one day because you you know, and then read a tweet from some some idiot saying that, you know, giving you the name of the shit coin is gonna be the next Bitcoin and then be able to trade directly out of your savings account. And god only know knows what other instrumentation you may have in that Japanese bank. This is a dangerous situation, so be aware. Okay. So in parallel with this opening, Japan's financial services agency is stepping up its efforts to ensure the integrity of the digital asset market. According to the reports, the FSA is preparing to introduce regulatory amendments that would explicitly ban trading based on non public information.
The new rules would impose financial penalties proportional to the illicit profits obtained by offenders. So that means no insider trading. Okay. Yeah. We'll tell that to some of our senators. Alright? Just and representatives over here in The United States. I would love it. Absolutely love it if we actually enforced, you know, insider trading laws on everybody that they should be enforced on. Actually, everybody. There's nobody that should have insider track. The only people that have insider track that I think would actually be able to legally do something with it is the people inside of the company themselves, and and I know that that that's problematic all by itself. But if there was because they're the the guys at the come you know, the people of the company are the actual people that are gonna make something happen.
If anybody should be able to be allowed to trade on that information, it should be the people that are actually manufacturing the information itself because they're making the thing that they're going to trade on happen. But even that's not allowed. And yet we have a couple of senators and a couple of people in the House of Representatives over here who are stinking rich to the tune of a couple of, you know, multiple $100,000,000 of net worth on a public servant salary. It does not take a rocket scientist to figure out that when Nancy Pelosi trades better than Warren Buffett, she's not that good.
She's trading on insider information, and she should be in jail for it or something. I mean, this is this becomes ridiculous. But at least the good people over in Japan, they're not gonna have any of it. Right? Yeah. Yeah. Sure, man. Sure. Alright. Hold on. I think I'm missing a story here for some reason. Did I get to that one? Nope. Nope. I'm I'm right on track. Alright. Well, here we go. Did you feel dirty? You know what's coming. Did you feel dirty when I was talking about all that insider trading? Well, I got some news for you. SoapMiner at soapminer.com will get you clean. Get you nice and squeaky clean. You can get away clean with soapminer.com, and you can go find it at soapminer.com where my good friend, Soap Miner, hand makes soaps. 100% beef tallow soap.
His base soap is a 100% distilled water, a 100% grass fed beef tallow, and lye. That's it. That's his base soap. He actually sells that as rough cut tallow soap. But then he'll do stuff like add add pine tar, so you can get pine tar tallow soap, goat's milk tallow soap, lemongrass, cedar wood, orange clove, lavender, tea tree, peppermint. Comfrey. Comfrey, he's got a Comfrey 100% beef tallow soap, Earl Grey tallow soap, redacted tallow soap that's got raw carbon in it. He's got body balms. He's got a deodorant. And what what else has he got? He's now has two full pages. Okay. Well, maybe not two full pages, but he's got two pages of products. He's got two kinds of deodorants. He's got two kinds of lip balm. Dude, soap miner at soap miner dot com. Get 10% off of your purchase when you use the code Bitcoin and.
And then that way, it also lets SoapMiner know that I made the sale for him, and SoapMiner will be able to take part of the only value for value advertising that you will ever find on the Internet. And that's here at the Circle p in the Bitcoin and show. Circle p is open for business. It's pleb run. Right? There's just plebs that have goods and services for sale to you, other plebs, who want to buy those goods and services, but you gotta buy them in Bitcoin. If you're not selling your goods and services in Bitcoin, you're not in the circle p. This is the way it works. Moving on. BlackRock has launched a Bitcoin exchange traded product, an ETP, after The United Kingdom lifts the trading ban.
Oh, thank god. We can bring we can bring the the word of the Lord into the streets, into The UK now via BlackRock. Ezra Reguera has it for Cointelegraph. BlackRock launched a Bitcoin linked exchange traded product in The United Kingdom following the Financial Conduct Authority's decision to ease restrictions on crypto investment vehicles. On Monday, the asset manager's website showed that the iShares Bitcoin ETP had been listed on the London Stock Exchange. According to the Sunday Times, the product, which is structured as a Bitcoin linked security, will allow investors to buy fractions of Bitcoin through units starting at about oh, shit. $11.
11 United States dollars. Wow. You can get into Bitcoin for $11. I can get into it cheaper over here, but, you know, whatever. The ETP is designed to mirror BTC prices while trading within a regulated framework, allowing investors to participate in the crypto market through traditional brokered brokerage accounts, it allows UK based retail. Retail investors, not institutional, retail investors will be able to gain exposure to Bitcoin without directly holding the asset or trading it on crypto exchanges. BlackRock is one of the most successful issuers of Bitcoin linked ETPs according to SoSoValue.
The company's iShares Bitcoin exchange traded fund has net assets of over $85,000,000,000. The move comes weeks after The UK softened its stance on certain crypto linked ETPs. On October 9, the FCA lifted its four year ban on crypto exchange traded notes or ETNs. The regulator said investors can access these products through FCA approved exchanges based in The UK. David Geel, FCA executive director of payments and digital finance, said that since they restricted retail ETN access, the market has evolved. He said that products are now more mainstream and better understood.
The crypto ETN is traded similarly to other securities while its underlying assets are held securely by regulated custodians. While it softened its stance on ETPs, the regulator said its retail ban on crypto asset derivatives will remain. However, the FCA added that it will keep an eye on the market and consider its approach to these high risk investments. Apart from the ETNs, The UK also moved to allow asset managers to use blockchain technology for fund tokenization. Your fund, now on a blockchain. On October 14, the regulator said, the move aimed to drive innovation and growth in asset management. The regulator recognized that tokenization has the potential to drive fundamental changes in asset management. Yeah. It does if and only if you actually understand this, quote, unquote, blockchain technology and are not just using it as, well, a catchphrase.
Hey. Everybody's saying this word blockchain. I don't really know what the hell it means, but we gotta we gotta put it up there. We gotta go locate somebody and pay them a $150 an hour to draft some kind of news statement or something, press release that we can show that that we're we're, you know, we're hip, man. Hello, fellow kids. Here's our ETP on a blockchain. What It's all so tiresome. Let's run the numbers. Whoo. It's a wild ride in legacy markets today, Brent. North Sea Oil is down a half point to $60.94 a barrel. West Texas Intermediate is down point 17% to $57.44.
But hold on to your ass because natural gas is on fire. 12.5% to the upside this single day to $3.38 per thousand cubic feet, erasing all the turmoil that has been going on for the last few days. Natural gas I am convinced that natural gas is the future the energy futures traders hedge. I I firmly believe that. Most of the time, when oil's going down, natural gas goes up. And then most of the time, when those directions when when oil's going up, natural gas goes down. So I I tend to look at natural gas as something that isn't really affected by news.
It's more affected by secondary news. Like, if there's bad news about oil, like, we've got too much of it or the price from the Saudi Arabians are going down, natural gas has this tendency to make it up on the other side. I think it's a hedge. So just because it's up 12 and a half percent today probably doesn't mean that there's this somebody picked up a phone and had an extraordinary need for shit tons of natural gas. I'm just saying. I'm not a professional trader over here, but gasoline itself is down point 5% to a buck 82 a gallon. And I call BS on that too because gas prices have not gone through the floor where I live in Eastern Washington.
You'll I mean, literally, the floor is $4 a gallon. It's still at $4.28. And it was $4.28 a gallon when gasoline was, like, 3 and a half bucks. It was $4.28 when gasoline was 2 and a half bucks. It was like $4.14 when gasoline was, you know, up $2. Now it's at a buck 87. I just drove by the gas station. It's still $4.28 a gallon. So I don't know. I just I whatever. Merban crude is down 1% itself to $62.81. All your shiny metal rocks are having a good day. Palladium up one and a quarter. Gold, new all time high after posting 3.6% to the upside, $43.65 and a half for the shiny metal rock. Platinum, 2.3% to the upside. Silver is up 2.6 to fifty one forty two an ounce.
Copper is up one and one half points. Ag is mostly in the green today. Biggest loser is lumber, three and a quarter to the downside. Biggest winner is coffee, 2% to the upside. Meanwhile, live cattle up point 7%. Lean hogs down point one five. Feeder cattle up 0.08%. S and P is up 1.16%. Nasdaq up 1.4%. The Dow is up 1.18%. Wow. That is a 550 move to the upside for the Dow this morning. So take that however it is you will. S and P is up 1.27%. Meanwhile, Bitcoin just chilling out at a hundred and ten thousand six forty. We got up to damn near a 112,000, like, over, like, last night or something like that. But then this morning, Trump opened his mouth about China tariffs again. Now he's talking about a 155%.
I guess he's mad again. I don't know. I wish Orange Man would just kinda shut up sometimes. Because every time he opens his mouth about China, everybody gets wrecked. It's still a $2,210,000,000,000 market cap though, and we can now get 25.4 ounces of shiny metal rocks with our one Bitcoin of which there are 19,937,185 and a half of. Average fees per block are low, 0.02 BTC taken in fees on a per block basis. There's about 23 blocks carrying 38,000 unconfirmed transactions waiting to clear at high priorities of five sets per v byte. Low priority is gonna get you in at three. A new all time high for hash rate, 1.12 zeta hashes per second.
Man, it's like like whole containers full of miners are just on fire or something right now. 1.12 Zeta hashes per second. Okay. Fountain.fm has a new look to their website, And it just happened, so please bear with me because this could get weird. The way that I'm looking at it is very different than what I'm used to. But from Tortillas Everywhere, Koss Peel and, 500 says boost. Richard Dick Whitman. 200 says hello, David. Perminer two ten says, I never thought I would hear Bitcoin compared to tortillas, but there you go. Well, you know, this is the Bitcoin and show. I try to keep it fresh for you. Wartime with a 133 says, cheers.
Oh, and he's got another 133 with a, well, an icon that I an emoji that I can't read. Don't please don't ask why. Mister Satstacker with oh, shit. 10,000 Satoshis says, sir, thank you. No. Thank you. And that is the weather report. Welcome to the, part two of the news that you can use. Bull Bitcoin launches bull wallet on iOS. This is out of Atlas twenty one, by the way. Bull Bitcoin has announced the global launch of Bull Wallet, a mobile Bitcoin wallet that aims to reconcile the technical needs of experienced users and the accessibility needed for beginners.
Now available in both iOS and Android, the wallet focuses on privacy, security, and ease of use. Francis Poulet, I think is how you pronounce it, founder and CEO of Bold Bitcoin stated, quote, Bold Bitcoin is Bitcoin only, fully open source, and built to prioritize privacy, security, and simplicity. This is only the beginning. We will keep improving it forever, end quote. Among the technical features, the application adopts a descriptor based SegWit native architecture and uses the Bitcoin development kit library. The wallet supports BIP 39 seed phrases. That that's good. And allows connection to full nodes or Electrum servers. And that's even better.
Additional functionalities include manual UTXO management, the replace by fee option, and test net compatibility. The source code is publicly available. The application does not collect user data, does not send push notifications, and does not track IP addresses. It also supports the pay join protocol. The wallet all the wallet wallet also introduces BIP 85 based secret derivation and confidential transactions via the liquid side chain. So there's where liquid comes in. Bull Wallet operates on three networks. The Bitcoin main net, the lightning network, and liquid.
Using non custodial atomic swap technologies based on bolts, users can transfer funds between the three networks. Oh, god. All in one wallet? Shit. I'm gonna have to look at this. For lightning payments, the wallet offers a user experience without the need to manage channels or liquidity. Small payments received on the liquid network are automatically converted to Bitcoin once a customizable threshold is reached, set by default at 0.01 Bitcoin. For Android users, Bull Wallet offers optional integration with the Bull Bitcoin broker, allowing purchases, sales, and payments directly from the wallet.
The wallet can also be used together with a hardware wallet. Initially, it will be compatible with cold card q one with integrations planned for other devices. At launch, recoverable oh, that's nice. Like recoverable, but recoverable, b u l l, is included, a new backup solution for hot wallets. The company has outlined a road map that includes integration of the ARC network, support for silent payments, secure and anonymous metadata backup, full support for or of all major hardware wallets, multisig wallet and miniscript integration, Nostr based anonymous chat, and lightning network addresses.
Dude, this thing is like this thing this is an action packed wallet, man. My wallet is action packed over here. And no, I'm not not I I do not get sponsored by bull bitcoin. I just I'm just reading this and I'm like, I really like this. I mean, Liquid and Lightning and Bitcoin main net. And you can trade between all three inside the wallet. I mean, yeah. Okay. I'm not as excited about liquid, but being able to trade between lightning and and and and Bitcoin main chain, that which I submarine swaps and opening and closing channels, and I hope all of its I hope it represents all of the potential there.
That it just it just means that this is a wallet that I might really want to look into. Because, you know, right now, I use I use a couple of different ones. Specter is my main one. I've been using that one for a long time. And and then there's Sparrow. I mean, I really like Sparrow, but to have something that can jump between three different chains, you know, or actually, not even three different chains. It's like the Bitcoin chain, the Lightning Network, and the liquid I don't don't really wanna say chain, so I'll just call it the liquid network. There there could be some real possibility there. And it may even it may even, force a little bit of adoption, a little bit more adoption than normal for the liquid network, which is, like I said, it's been around for years.
It just doesn't really get a whole lot of traction. It's you know, and people will say, well, it's another shit chain. Okay. Well, you know, people said that about liquid or, Lightning as well, and they still say that about Lightning. It's not real Bitcoin, whatever. I've heard all these arguments before, but I've been using lightning network for so long, and it's just such a part of my everyday walking around stuff that I just take those arguments, and I just throw them out the window because for me, it's just all Bitcoin. But we gotta move on to the S and P 500. Be standard and poor all at the same time.
500. S and P 500 and gold can now be traded in Bitcoin terms. This is kinda interesting. Vivexin, Bitcoin magazine, in a significant development for global financial markets. Roxom, r o x o m, has launched Bitcoin denominated perpetual futures. Oh, god. Okay. So it's not as exciting as I thought. But you gotta know about it. I mean, I gotta know about this stuff, so you you're gonna have to know about it too because this stuff affects us. They've launched Bitcoin denominated perpetual futures enabling traders to benchmark and trade major assets like the S and P 500 and gold directly in Bitcoin terms. This innovation marks the first time that traditional assets historically priced in dollars can be measured against Bitcoin as a unit of account, pausing to say, that's going to confuse the living shit out of people.
Look. I I get I get that maybe we should just be pricing everything in Bitcoin. I understand the argument. The fact of the matter is you're fighting volatility. And I'm not talking about in the trade. I'm talking about in trying to figure out what something is valued at. And I'm not saying that this is a bad idea. I'm just saying that I cannot wrap my head around what it would be like to be, like, executing trades like a madman, ass and hair on fire all at the same time, and in my mind, having to juggle the volatility of Bitcoin. So all I can say is good luck.
But the launch comes at a time when de dollarization trends are accelerating globally, with central banks diversifying reserve reserves and BRICS nations increasingly settling increasingly settling trade outside the US dollar system. According to bitcointreasuries.net, public companies, ETFs, and sovereign entities now hold more than a $150,000,000,000 worth of Bitcoin, representing a 400% increase year over year, quote, for decades. Markets have been priced in currencies shaped by monetary policy and politics. By introducing Bitcoin denominated benchmarks, we're creating a reference standard that is neutral, transparent, and global.
This launches the foundation for a new financial era, said Borgia Martel Seward, Roxham's cofounder. The introduction of Bitcoin denominated futures represents a structural shift in global finance, potentially accelerating Bitcoin's evolution from a digital currency to a store value and now to a foundation layer for global capital markets. Roxom's platform operates twenty four seven, introducing a more accessible and efficient market structure that bridges traditional finance with the Bitcoin ecosystem. As the first capital market exchange built for a Bitcoin denominated world, Roccam aims to provide regulated institutional infrastructure that transforms Bitcoin from a reserve asset into a unit of trust and long term stability.
The company's mission focuses on connecting Bitcoin and traditional finance through secure, credible, and transparent markets. The ability to trade major market benchmarks directly in Bitcoin terms could provide new opportunities for portfolio diversification and risk management. Notably, both gold and the S and P 500 have been declining when priced in Bitcoin terms over the past year. While gold has reached new nominal highs in USD terms, its value relative to Bitcoin has fallen by approximately 45% since January 2024.
Similarly, the S and P 500 has shown weakness of its own when measured in Bitcoin terms despite hitting, again, nominal highs in terms of the United States dollar. The index now trades at approximately 0.078 BTC per unit, down from 0.12 BTC in 2024, representing a decline of 35% in terms of Bitcoin. This divergence suggest a growing shift in market dynamics where traditional safe haven assets and equity markets are underperforming Bitcoin as a store of wealth and unit of account. As institutional adoption of Bitcoin continues to grow, Roxom's platform provides a crucial bridge between conventional financial markets and the emerging Bitcoin based financial system.
This integration may help facilitate Bitcoin's broader adoption as a standard unit of account in global finance, marking a significant milestone in the asset's institutional evolution. Okay. I understand what they're trying to do. I I really do. But, again, it's it's a hard it's okay. Look. It's just gonna be a hard sell. Bitcoin itself is a hard sell. It just is. Having somebody who's used to dealing with trading gold and S and P in terms of the United States dollar, which is, like, almost everybody, having them say, you know what? There's just way too much volatility in in the United States dollar. And they'd be right. There there is. But when they also, in the same breath, say, I'm going to use Bitcoin instead.
I I'm sorry, but I gotta kinda laugh. So so you're a fish frying in a pan, and you get to get out of the frying pan and into the fire. Oh, okay. Hey. If that's the way you wanna play it, man, you know, bucky for you. But, dude, all I can say is, one, good luck. Two, I am glad that somebody is doing this, but I think it they might find themselves a little bit too early to this game. I hope I'm wrong. I I really do. I I hope I'm wrong. Now moving on to Chuck E. Not Chuck E. Cheese, Chuck Schwab. Charles Schwab sees 90% spike in crypto interest, and they plan a spot Bitcoin trade in 2026.
I guess they're going to allow it. I don't know. Micah Zimmerman will tell us more out of Bitcoin magazine. Charles Schwab is seeing booming engagement from retail investors in its crypto products. Again, pausing to emphasize retail. Everybody's asking, where is retail? Where is retail? Well, I I think that they're being held up. I I literally think retail is being held up by people like Charles Schwab and JPMorgan and all the rest of these cats that are just now trying to figure out how to open the doors to their brand new products. But this is not institutional.
This is not commercial. This is not any of the other stuff, man. This is like this is like the plumber with the Charles Schwab account. I mean, Charles Schwab literally represents retail investment in The United States, and they've been the poster child for retail investment in The United States for fifty years. So it's kind of an important deal. But in an interview with CNBC CEO Rick Wurster said that visits to Schwab's crypto platform have increased by 90% year over year, signaling strong investor appetite for Bitcoin ETFs, Bitcoin futures, and other crypto exchange traded products.
Schwab clients now hold roughly 20% of all crypto ETPs, exchange traded products, in The US. Wurster emphasized that the company is responding to this demand by providing a wide array of crypto investment options and educational resources, thank god, combining digital access with traditional client support through calls and branch offices. Charles Schwab will also offer spot Bitcoin trading in the 2026. Rick Wurster, CEO, shared the news during Schwab's third quarter earnings call where the company reported a $134,400,000,000 in net new assets, marking a one no. A 48% year over year increase.
Earlier this year, the firm announced plans to offer Bitcoin and Ethereum trading driven by client demand, noting many wanted to consolidate their crypto holdings with Charles Schwab. Worster's thoughts in the Charles Schwab's earning call marked the first time the bank put a tentative date on the initiative. The push into crypto comes alongside Charles Schwab's broader record breaking quarter. Total client assets oh, god. Total client assets reached $11,590,000,000,000. That's trillion with a t. 11,590,000,000,000.00, up 17% year over year, and daily average trades jumped 30%.
The firm's strategy, Wurster explained, focuses on offering both advanced trading platforms like Thinkorswim. Oh, come on. This literally spelled think or swim. Thinkorswim. And guidance for new investors making crypto accessible and understandable for a broader audience earlier this month. Morgan Stanley. Now Morgan Stanley released their report telling clients to allocate at maximum between 24% of their portfolios to crypto, primarily Bitcoin, based on risk profiles. The report described Bitcoin as a scarce asset akin to digital gold and suggested it could play a legitimate role in diversified strategies.
It recommended regular portfolio rebalancing, ideally quarterly, and gaining exposure through exchange traded products to manage volatility, because God forbid, volatility. The guidance followed the firm's expansion of a digital asset access via e trade and coincided with Bitcoin reaching a new all time high of around 126,200. Earlier this week, US Bank announced their new digital asset and money movement organization in hopes to, quote, accelerate development of and grow revenue from emerging digital products and services such as stablecoin issuance, cryptocurrency custody, asset tokenization, and digital money movement, end quote.
Also, institutional holdings in Bitcoin ETFs rose to $870,700,000 in the third quarter twenty twenty five. That's up 117,300,000.0 from the previous quarter. Kind of a throwaway sentence there at the end. It needed to come somewhere else. But, again, it is recommended that regular portfolio rebalancing occur quarterly. I've got too much money in Bitcoin. I need to sell some and get me some of that Nvidia because I hate volatility in my portfolio. Do do you hear yourself? This is not the asset that you wanna be rebalancing. Here oh, look. This is I I gotta say it because otherwise, I'm gonna get sued if I don't, even though I'm a small fry podcaster in Bitcoin.
If you've got a portfolio that's got bitcoin in it, don't don't rebalance the bitcoin. Rebalance everything around it. Alright? Just rebalance everything around it. And if for whatever reason, your rebalancing suggests that you sell some of the other assets and buy more Bitcoin, then do that. You know? But don't sell the Bitcoin to buy more treasury bonds, if that's what your financial guy is telling you, because that's just dumb. Rebalancing has its place, and it's very, very far away from selling any of your Bitcoin. Let me just say that. Alright. Last up for the day, Michael Saylor's strategy takes another small step towards 700,000 Bitcoin, Helen Parks, CoinTelegraph.
Michael Saylor's strategy, the world's largest public Bitcoin holder, added to its BTC stash last week amid another market sell off following the Black Friday crypto crash. I guess they finally started using the term Black Friday. So you wanna know the number? This this mega awesome number of BTC that Sailor bought? Yeah. It's a 168. Not not not 1,680. Not a 168,000. No. Not 16,008 no. A 168 Bitcoin. It's worth all of $18,800,000. He bought it last week according to data. The latest Bitcoin acquisition was made at, wait for it, an average price of a $112,051.
He's he can't win right now. Though Bitcoin slipped below a 104,000 on Friday amid the shock waves of the market crash October 10. With the purchase, strategy now holds a total of 640,418 Bitcoin purchased for about $47. Wait. Oh, I'm sorry. $47,400,000,000 at an average price of $74,000 per coin. Straight strategy's latest 168 BTC purchase was another small addition in a series of minor buys, a notable contrast to its massive Bitcoin hoarding earlier this year when monthly purchases averaged around 25,000 BTC in April and in May.
Based on an average monthly buying pace of 5,620 Bitcoin over August and September, when strategy purchased 7,700 and 3,500 BTC respectively, it would take roughly eleven months to reach a total of 700,000 on its balance sheet. You never know. He may that may be exactly what he wants to do. But this latest Bitcoin purchase followed a 220 BTC buy for strategy for 27,200,000.0 the previous week, which came as BTC briefly hit the new all time high above a 126 k before plunging. Plunging, I tell you, to a 110,000 in the October 10 Black Friday market crash. Strategy's Bitcoin purchases came as its common a stock, MSTR, extended losses last week, falling back to levels not seen since April.
According to data from TradingView, MSTR slid below $284 last Thursday, marking a continued decline of 21% since October 5. Despite the losses, strategy stock is still up 50.4% from where it stood one year earlier with a massive 1650% surge in the past five years. The lowest price of MSTR shares so far this year was about $238 per share recorded April 7, while the highest was in July at more than 455. Talks of volatility there. While strategies Bitcoin buying has slowed notably in recent months, many companies have followed its lead with BTC treasury plans aggressively accumulating the asset.
Yeah. I wouldn't say aggressively accumulating. I I definitely say aggressively announcing announcements, but not so much as general accumulation. But, hey, let let them do whatever they're gonna do. Meta Planet, a Japanese hotel company that went for Bitcoin treasuries in July 2024, has hoarded 30,823 by September, only to see its enterprise value fall below the value of its Bitcoin holdings last week. Yeah. It went down to, like, point nine eight was the last number I saw. Meta Planet's market to Bitcoin NAV or m NAV slipped to 0.99 on Tuesday and then tumbled deeper to, oh, shit, point nine on Saturday, so point nine zero.
Damn, sun. You're losing losing your shit hand over fist. Anyway, while the potential outcomes of the event are yet to be seen, Meta Planet has not bought more Bitcoin since it made its most recent BTC acquisition, and that was announced on September 30. So that's that's it, man. That is all I got for you today. I do hope you enjoyed hearing about all the news that you can use. I'm just gonna go ahead and kill it here, and I'll see you on the other side. This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
It is 11:04AM Pacific Daylight Time. It's the, god, October 2025. This is episode eleven ninety three of Bitcoin, and I am late as I always am on Mondays, generally speaking anyway. Mondays is when I have a Toastmasters meeting where we convene and throw the gavel at 06:30AM. That's right. And I have to be there at six to set everything up. So by the time I'm done at 07:45, I've literally done more than most people do all damn day. Well, not most people, but a lot of people. It's sort of like that old army commercial. Number seven ranking all the way down to number 14 by what was like two points.
In the last two minutes of the game, it was, talk about disappointing. But if you wanna be disappointed even further, the first news up for the day is New York Democrats proposing a proof of work mining banning bill or something like that. They're they're they're on about Bitcoin. New York doesn't want Bitcoin. They've done everything that they can do, and they're going even further. And we've got more. It's all the news you can use right here on The Bitcoin And Show. I'm your host, David Bennett. We're gonna be talking about Binance as well as Japan, and BlackRock is also in the news, by the way.
Bull Bitcoin, released their wallet on iOS. It is now available everywhere. And I think that they've got a deal worked out with the liquid network, over there at, who's who the hell is it? Adam Back and his crew over at Blockstream, put up the liquid network a few years ago. It's gotten it's, you know, it's it's it's a side chain, but it really hasn't gotten that much adoption. But I I guess bull Bitcoin is getting into it. Maybe, we'll hear more about it later. The S and P 500 will be in the news as well as Charlie Schwab. That's right. Our old good friend, Chuckie. They're gonna be doing something with Bitcoin. And Michael Sailor, of course, is gonna round out the, the episode. Just just because, dude. Why not? Alright. So New York Democrats propose a companion bill targeting proof of work mining.
They're specifically targeting proof of work mining, viz may have been bringing it to you out of decrypt. New York lawmakers launched a legislative strike against crypto mining on Friday, including a companion legislation to a senate bill that would force proof of work miners to pay high taxes based on their electricity consumption. On Friday, assembly bill a nine one three eight was introduced in the New York State Assembly by Democratic Assembly member Anna Kellis and referred to the ways and means committee. The bill would impose a excise tax on electricity used by businesses engaged in that dirty, awful, nasty digital asset mining under the proof of work authentication method.
This measure is a companion to the s eighty five one eight bill introduced earlier this month by state senator Liz Krueger, chair of the senate finance committee in the New York state senate. So Bitcoin getting it from both ends. Both bills pursue identical goals as they require crypto mining companies to pay into New York's energy affordability programs based on their electricity consumption. Operations consuming up to 2,250,000 kilowatt hours annually would pay nothing according to the bill. The rate then jumps 2¢ per kilowatt hour for consumption over 2,250,000 and blah blah blah. It goes on until you get to 5¢ per kilowatt hour for consumption exceeding 20,000,000 kilowatt hours annually.
That's you know, do the math on 5¢ per, kilowatt hour when you're, doing 20,000,000 kilowatt hours annually. It's that's ends up being quite a big number. Quote, this bill ensures that the company's driving up New Yorkers' electricity rates pay their fair share. So tired of hearing this word this phrase bandied about while providing direct relief to families struggling with rising utility costs, senator Krueger said in a statement when introducing her bill. Mining facilities powered entirely by renewable energy systems and operating off grid would be able to dodge the tax, a provision designed to encourage sustainable practices within the digital asset sector as per bill a nine one three eight. Excuse me. All collected taxes, interest, and penalties would flow directly to energy affordability programs administered by the Department of Public Service in consultation with the Energy Affordability Policy Working Group.
If passed, the tax would take effect 01/01/2027, applying to all taxable years thereafter. Both the senate and assembly versions remain in committee. The move resembles those made by Northern European countries like Norway and Sweden. Nick Puckrin, crypto analyst analyst sorry, analyst and cofounder of the coin bureau told Decrypt. While those were not explicit bans, he said, quote, the removal of previous advantages essentially made mining unavailable. We may be seeing the same thing playing out here, and the result will be the same. The irony is that moves like these don't tend to lead to cleaner practices. They just push mining operations out of state, Puckering said.
Asked whether mining operations would simply relocate to more crypto friendly states, Puckran said it would be the obvious answer as moving will be easier and cheaper than trying to comply with punitive regulations, and there are still plenty of much friendlier options within The US. Let's just be clear. It ain't exactly that cheap to pull up stakes and move your entire mining operation to someplace like Texas. And Texas would be would love to have them. Texas, at this point, is like a a miner's free for all. Right? But still, pulling all those things off the shelf, packing them all up, moving them all out, negotiating new electricity contracts, citing a new site. It's not like you can pick up the building and its foundation and just, I don't know, helicopter it into Texas. You gotta leave all that shit behind. So it's it's not it's not an easy move.
It's still punitive insofar as they gotta they're gonna have to expend a lot of money to be able to make that move. So I kind of expect some of these guys to try to stick it out as long as humanly possible. And maybe during that time, they renegotiate all these contracts and and make make plans to move. But I I doubt that if this thing passes, that you're just gonna see mining companies shut down operations and then just immediately move. Right? So but they have some time. They they they'll have they'll have a little bit over a year to figure this shit out if this thing passes, but we'll again, as always, we'll have to see.
But Binance, playing a little bit of dirty pool old man, Binance bans more than 600 accounts over, quote, unauthorized third party tools. Naga Avayan Namayo has got this one for the block. Binance has banned more than 600 user accounts for employing unauthorized third party tools, the exchange said in a statement. The centralized crypto exchange added that effective immediately, accounts found to be using such tools or otherwise violating the terms of Binance exchange, Binance wallet, or Binance alpha may may face permanent disqualification from all Binance activities and forfeiture of any profits earned in alpha events, quote, following a review by our team. Over 600 accounts were banned last week for using unauthorized third party tools. Yes. We know. Please. Let's let's move on. While Binance did not detail the specific tools implicated, recent official guidance and user safety posts by the company warn that unapproved trading bots or scripts, API misuse, and account sharing can trigger suspensions under the platform's terms of use. Those terms, which were updated October 10, govern all Binance activities with product specific rules applied to features like alpha, Binance's pre listed, listing token discovery venue integrated with the Binance wallet.
The exchange also called on users to report suspected abuse, offering a bounty, oh god, of up to 50% of reclaimed profit profits to the first verified reporter in each case. In other Binance related developments, the exchange recently completed its acquisition of South Korea's GoPacks. What whatever. I don't that that's not what's going on here. So if you ever thought about the crypto exchange stuff being a great big casino, which you should, that should also bring to mind something else, gaming. This is the exact same kind of terms of service that you see when you get an account going on with some, you know, MMO, like a massive multiplayer online role playing game or something like that.
The employment of bots, you know, to run around and just do mining for you so that you can trade it to another character. They're called mules. Right? So this this is the exact same thing, and it's funny to see the exact same mindset of players or, I'm sorry, seasoned investment professionals using the exact same crap, you know, that gamers would use. But, yeah, I don't really blame them. I mean, why wouldn't you? If you can automate something like this, then you are going to automate something like this. You know? Just don't get caught because you're gonna get banned and all your money's gonna be absconded with.
Maybe they'll drop it into Binance will drop it into a Japanese account because Japan is now ready to open the doors to digital assets for their banking sector. Atlas twenty one has got it for you. According to local media reports on October 19, that was yesterday, Japan's financial services agency is considering allowing considering allowing domestic banks to trade and hold Bitcoin and other digital assets. As reported by the Yomiuri Shimbun newspaper, the financial watchdog intends to launch discussions to reform the current guidelines that prohibit national credit institutions from owning digital assets.
The goal of the proposed regulatory reform is to establish a system that would allow Japanese banks to buy and sell Bitcoin and other cryptocurrencies in a way in a way similar to how they currently trade stocks and government bonds. The FSA is also evaluating the possibility of authorizing banks to register directly as exchanges. Now this move would aim to simplify crypto market access for retail investors, pausing just to say, yeah, that's gonna be a little dangerous because you're gonna be able to trade directly out of your your savings account if you're a Japanese citizen. So wow.
There should be some gateways. You know, there really should. There I know that there's, like, traders out there who who would like like to see my head on a chopping block for saying the following, but you there really should be some gatekeeping between your stash of of liquid capital and being able to trade it directly on the market. Like, you should be able to go to your bank and say, look, I need $10,000. And you take that and then you move move that to some dipshit exchange, and then you can lose it all there. But at least at least there's a gateway that you have to pass. Right? A mental check. Do I really want to gamble all my money away on shit coins?
Yeah. You know what? I do. Oh, okay. That's your decision. But being able to wake up one day because you you know, and then read a tweet from some some idiot saying that, you know, giving you the name of the shit coin is gonna be the next Bitcoin and then be able to trade directly out of your savings account. And god only know knows what other instrumentation you may have in that Japanese bank. This is a dangerous situation, so be aware. Okay. So in parallel with this opening, Japan's financial services agency is stepping up its efforts to ensure the integrity of the digital asset market. According to the reports, the FSA is preparing to introduce regulatory amendments that would explicitly ban trading based on non public information.
The new rules would impose financial penalties proportional to the illicit profits obtained by offenders. So that means no insider trading. Okay. Yeah. We'll tell that to some of our senators. Alright? Just and representatives over here in The United States. I would love it. Absolutely love it if we actually enforced, you know, insider trading laws on everybody that they should be enforced on. Actually, everybody. There's nobody that should have insider track. The only people that have insider track that I think would actually be able to legally do something with it is the people inside of the company themselves, and and I know that that that's problematic all by itself. But if there was because they're the the guys at the come you know, the people of the company are the actual people that are gonna make something happen.
If anybody should be able to be allowed to trade on that information, it should be the people that are actually manufacturing the information itself because they're making the thing that they're going to trade on happen. But even that's not allowed. And yet we have a couple of senators and a couple of people in the House of Representatives over here who are stinking rich to the tune of a couple of, you know, multiple $100,000,000 of net worth on a public servant salary. It does not take a rocket scientist to figure out that when Nancy Pelosi trades better than Warren Buffett, she's not that good.
She's trading on insider information, and she should be in jail for it or something. I mean, this is this becomes ridiculous. But at least the good people over in Japan, they're not gonna have any of it. Right? Yeah. Yeah. Sure, man. Sure. Alright. Hold on. I think I'm missing a story here for some reason. Did I get to that one? Nope. Nope. I'm I'm right on track. Alright. Well, here we go. Did you feel dirty? You know what's coming. Did you feel dirty when I was talking about all that insider trading? Well, I got some news for you. SoapMiner at soapminer.com will get you clean. Get you nice and squeaky clean. You can get away clean with soapminer.com, and you can go find it at soapminer.com where my good friend, Soap Miner, hand makes soaps. 100% beef tallow soap.
His base soap is a 100% distilled water, a 100% grass fed beef tallow, and lye. That's it. That's his base soap. He actually sells that as rough cut tallow soap. But then he'll do stuff like add add pine tar, so you can get pine tar tallow soap, goat's milk tallow soap, lemongrass, cedar wood, orange clove, lavender, tea tree, peppermint. Comfrey. Comfrey, he's got a Comfrey 100% beef tallow soap, Earl Grey tallow soap, redacted tallow soap that's got raw carbon in it. He's got body balms. He's got a deodorant. And what what else has he got? He's now has two full pages. Okay. Well, maybe not two full pages, but he's got two pages of products. He's got two kinds of deodorants. He's got two kinds of lip balm. Dude, soap miner at soap miner dot com. Get 10% off of your purchase when you use the code Bitcoin and.
And then that way, it also lets SoapMiner know that I made the sale for him, and SoapMiner will be able to take part of the only value for value advertising that you will ever find on the Internet. And that's here at the Circle p in the Bitcoin and show. Circle p is open for business. It's pleb run. Right? There's just plebs that have goods and services for sale to you, other plebs, who want to buy those goods and services, but you gotta buy them in Bitcoin. If you're not selling your goods and services in Bitcoin, you're not in the circle p. This is the way it works. Moving on. BlackRock has launched a Bitcoin exchange traded product, an ETP, after The United Kingdom lifts the trading ban.
Oh, thank god. We can bring we can bring the the word of the Lord into the streets, into The UK now via BlackRock. Ezra Reguera has it for Cointelegraph. BlackRock launched a Bitcoin linked exchange traded product in The United Kingdom following the Financial Conduct Authority's decision to ease restrictions on crypto investment vehicles. On Monday, the asset manager's website showed that the iShares Bitcoin ETP had been listed on the London Stock Exchange. According to the Sunday Times, the product, which is structured as a Bitcoin linked security, will allow investors to buy fractions of Bitcoin through units starting at about oh, shit. $11.
11 United States dollars. Wow. You can get into Bitcoin for $11. I can get into it cheaper over here, but, you know, whatever. The ETP is designed to mirror BTC prices while trading within a regulated framework, allowing investors to participate in the crypto market through traditional brokered brokerage accounts, it allows UK based retail. Retail investors, not institutional, retail investors will be able to gain exposure to Bitcoin without directly holding the asset or trading it on crypto exchanges. BlackRock is one of the most successful issuers of Bitcoin linked ETPs according to SoSoValue.
The company's iShares Bitcoin exchange traded fund has net assets of over $85,000,000,000. The move comes weeks after The UK softened its stance on certain crypto linked ETPs. On October 9, the FCA lifted its four year ban on crypto exchange traded notes or ETNs. The regulator said investors can access these products through FCA approved exchanges based in The UK. David Geel, FCA executive director of payments and digital finance, said that since they restricted retail ETN access, the market has evolved. He said that products are now more mainstream and better understood.
The crypto ETN is traded similarly to other securities while its underlying assets are held securely by regulated custodians. While it softened its stance on ETPs, the regulator said its retail ban on crypto asset derivatives will remain. However, the FCA added that it will keep an eye on the market and consider its approach to these high risk investments. Apart from the ETNs, The UK also moved to allow asset managers to use blockchain technology for fund tokenization. Your fund, now on a blockchain. On October 14, the regulator said, the move aimed to drive innovation and growth in asset management. The regulator recognized that tokenization has the potential to drive fundamental changes in asset management. Yeah. It does if and only if you actually understand this, quote, unquote, blockchain technology and are not just using it as, well, a catchphrase.
Hey. Everybody's saying this word blockchain. I don't really know what the hell it means, but we gotta we gotta put it up there. We gotta go locate somebody and pay them a $150 an hour to draft some kind of news statement or something, press release that we can show that that we're we're, you know, we're hip, man. Hello, fellow kids. Here's our ETP on a blockchain. What It's all so tiresome. Let's run the numbers. Whoo. It's a wild ride in legacy markets today, Brent. North Sea Oil is down a half point to $60.94 a barrel. West Texas Intermediate is down point 17% to $57.44.
But hold on to your ass because natural gas is on fire. 12.5% to the upside this single day to $3.38 per thousand cubic feet, erasing all the turmoil that has been going on for the last few days. Natural gas I am convinced that natural gas is the future the energy futures traders hedge. I I firmly believe that. Most of the time, when oil's going down, natural gas goes up. And then most of the time, when those directions when when oil's going up, natural gas goes down. So I I tend to look at natural gas as something that isn't really affected by news.
It's more affected by secondary news. Like, if there's bad news about oil, like, we've got too much of it or the price from the Saudi Arabians are going down, natural gas has this tendency to make it up on the other side. I think it's a hedge. So just because it's up 12 and a half percent today probably doesn't mean that there's this somebody picked up a phone and had an extraordinary need for shit tons of natural gas. I'm just saying. I'm not a professional trader over here, but gasoline itself is down point 5% to a buck 82 a gallon. And I call BS on that too because gas prices have not gone through the floor where I live in Eastern Washington.
You'll I mean, literally, the floor is $4 a gallon. It's still at $4.28. And it was $4.28 a gallon when gasoline was, like, 3 and a half bucks. It was $4.28 when gasoline was 2 and a half bucks. It was like $4.14 when gasoline was, you know, up $2. Now it's at a buck 87. I just drove by the gas station. It's still $4.28 a gallon. So I don't know. I just I whatever. Merban crude is down 1% itself to $62.81. All your shiny metal rocks are having a good day. Palladium up one and a quarter. Gold, new all time high after posting 3.6% to the upside, $43.65 and a half for the shiny metal rock. Platinum, 2.3% to the upside. Silver is up 2.6 to fifty one forty two an ounce.
Copper is up one and one half points. Ag is mostly in the green today. Biggest loser is lumber, three and a quarter to the downside. Biggest winner is coffee, 2% to the upside. Meanwhile, live cattle up point 7%. Lean hogs down point one five. Feeder cattle up 0.08%. S and P is up 1.16%. Nasdaq up 1.4%. The Dow is up 1.18%. Wow. That is a 550 move to the upside for the Dow this morning. So take that however it is you will. S and P is up 1.27%. Meanwhile, Bitcoin just chilling out at a hundred and ten thousand six forty. We got up to damn near a 112,000, like, over, like, last night or something like that. But then this morning, Trump opened his mouth about China tariffs again. Now he's talking about a 155%.
I guess he's mad again. I don't know. I wish Orange Man would just kinda shut up sometimes. Because every time he opens his mouth about China, everybody gets wrecked. It's still a $2,210,000,000,000 market cap though, and we can now get 25.4 ounces of shiny metal rocks with our one Bitcoin of which there are 19,937,185 and a half of. Average fees per block are low, 0.02 BTC taken in fees on a per block basis. There's about 23 blocks carrying 38,000 unconfirmed transactions waiting to clear at high priorities of five sets per v byte. Low priority is gonna get you in at three. A new all time high for hash rate, 1.12 zeta hashes per second.
Man, it's like like whole containers full of miners are just on fire or something right now. 1.12 Zeta hashes per second. Okay. Fountain.fm has a new look to their website, And it just happened, so please bear with me because this could get weird. The way that I'm looking at it is very different than what I'm used to. But from Tortillas Everywhere, Koss Peel and, 500 says boost. Richard Dick Whitman. 200 says hello, David. Perminer two ten says, I never thought I would hear Bitcoin compared to tortillas, but there you go. Well, you know, this is the Bitcoin and show. I try to keep it fresh for you. Wartime with a 133 says, cheers.
Oh, and he's got another 133 with a, well, an icon that I an emoji that I can't read. Don't please don't ask why. Mister Satstacker with oh, shit. 10,000 Satoshis says, sir, thank you. No. Thank you. And that is the weather report. Welcome to the, part two of the news that you can use. Bull Bitcoin launches bull wallet on iOS. This is out of Atlas twenty one, by the way. Bull Bitcoin has announced the global launch of Bull Wallet, a mobile Bitcoin wallet that aims to reconcile the technical needs of experienced users and the accessibility needed for beginners.
Now available in both iOS and Android, the wallet focuses on privacy, security, and ease of use. Francis Poulet, I think is how you pronounce it, founder and CEO of Bold Bitcoin stated, quote, Bold Bitcoin is Bitcoin only, fully open source, and built to prioritize privacy, security, and simplicity. This is only the beginning. We will keep improving it forever, end quote. Among the technical features, the application adopts a descriptor based SegWit native architecture and uses the Bitcoin development kit library. The wallet supports BIP 39 seed phrases. That that's good. And allows connection to full nodes or Electrum servers. And that's even better.
Additional functionalities include manual UTXO management, the replace by fee option, and test net compatibility. The source code is publicly available. The application does not collect user data, does not send push notifications, and does not track IP addresses. It also supports the pay join protocol. The wallet all the wallet wallet also introduces BIP 85 based secret derivation and confidential transactions via the liquid side chain. So there's where liquid comes in. Bull Wallet operates on three networks. The Bitcoin main net, the lightning network, and liquid.
Using non custodial atomic swap technologies based on bolts, users can transfer funds between the three networks. Oh, god. All in one wallet? Shit. I'm gonna have to look at this. For lightning payments, the wallet offers a user experience without the need to manage channels or liquidity. Small payments received on the liquid network are automatically converted to Bitcoin once a customizable threshold is reached, set by default at 0.01 Bitcoin. For Android users, Bull Wallet offers optional integration with the Bull Bitcoin broker, allowing purchases, sales, and payments directly from the wallet.
The wallet can also be used together with a hardware wallet. Initially, it will be compatible with cold card q one with integrations planned for other devices. At launch, recoverable oh, that's nice. Like recoverable, but recoverable, b u l l, is included, a new backup solution for hot wallets. The company has outlined a road map that includes integration of the ARC network, support for silent payments, secure and anonymous metadata backup, full support for or of all major hardware wallets, multisig wallet and miniscript integration, Nostr based anonymous chat, and lightning network addresses.
Dude, this thing is like this thing this is an action packed wallet, man. My wallet is action packed over here. And no, I'm not not I I do not get sponsored by bull bitcoin. I just I'm just reading this and I'm like, I really like this. I mean, Liquid and Lightning and Bitcoin main net. And you can trade between all three inside the wallet. I mean, yeah. Okay. I'm not as excited about liquid, but being able to trade between lightning and and and and Bitcoin main chain, that which I submarine swaps and opening and closing channels, and I hope all of its I hope it represents all of the potential there.
That it just it just means that this is a wallet that I might really want to look into. Because, you know, right now, I use I use a couple of different ones. Specter is my main one. I've been using that one for a long time. And and then there's Sparrow. I mean, I really like Sparrow, but to have something that can jump between three different chains, you know, or actually, not even three different chains. It's like the Bitcoin chain, the Lightning Network, and the liquid I don't don't really wanna say chain, so I'll just call it the liquid network. There there could be some real possibility there. And it may even it may even, force a little bit of adoption, a little bit more adoption than normal for the liquid network, which is, like I said, it's been around for years.
It just doesn't really get a whole lot of traction. It's you know, and people will say, well, it's another shit chain. Okay. Well, you know, people said that about liquid or, Lightning as well, and they still say that about Lightning. It's not real Bitcoin, whatever. I've heard all these arguments before, but I've been using lightning network for so long, and it's just such a part of my everyday walking around stuff that I just take those arguments, and I just throw them out the window because for me, it's just all Bitcoin. But we gotta move on to the S and P 500. Be standard and poor all at the same time.
500. S and P 500 and gold can now be traded in Bitcoin terms. This is kinda interesting. Vivexin, Bitcoin magazine, in a significant development for global financial markets. Roxom, r o x o m, has launched Bitcoin denominated perpetual futures. Oh, god. Okay. So it's not as exciting as I thought. But you gotta know about it. I mean, I gotta know about this stuff, so you you're gonna have to know about it too because this stuff affects us. They've launched Bitcoin denominated perpetual futures enabling traders to benchmark and trade major assets like the S and P 500 and gold directly in Bitcoin terms. This innovation marks the first time that traditional assets historically priced in dollars can be measured against Bitcoin as a unit of account, pausing to say, that's going to confuse the living shit out of people.
Look. I I get I get that maybe we should just be pricing everything in Bitcoin. I understand the argument. The fact of the matter is you're fighting volatility. And I'm not talking about in the trade. I'm talking about in trying to figure out what something is valued at. And I'm not saying that this is a bad idea. I'm just saying that I cannot wrap my head around what it would be like to be, like, executing trades like a madman, ass and hair on fire all at the same time, and in my mind, having to juggle the volatility of Bitcoin. So all I can say is good luck.
But the launch comes at a time when de dollarization trends are accelerating globally, with central banks diversifying reserve reserves and BRICS nations increasingly settling increasingly settling trade outside the US dollar system. According to bitcointreasuries.net, public companies, ETFs, and sovereign entities now hold more than a $150,000,000,000 worth of Bitcoin, representing a 400% increase year over year, quote, for decades. Markets have been priced in currencies shaped by monetary policy and politics. By introducing Bitcoin denominated benchmarks, we're creating a reference standard that is neutral, transparent, and global.
This launches the foundation for a new financial era, said Borgia Martel Seward, Roxham's cofounder. The introduction of Bitcoin denominated futures represents a structural shift in global finance, potentially accelerating Bitcoin's evolution from a digital currency to a store value and now to a foundation layer for global capital markets. Roxom's platform operates twenty four seven, introducing a more accessible and efficient market structure that bridges traditional finance with the Bitcoin ecosystem. As the first capital market exchange built for a Bitcoin denominated world, Roccam aims to provide regulated institutional infrastructure that transforms Bitcoin from a reserve asset into a unit of trust and long term stability.
The company's mission focuses on connecting Bitcoin and traditional finance through secure, credible, and transparent markets. The ability to trade major market benchmarks directly in Bitcoin terms could provide new opportunities for portfolio diversification and risk management. Notably, both gold and the S and P 500 have been declining when priced in Bitcoin terms over the past year. While gold has reached new nominal highs in USD terms, its value relative to Bitcoin has fallen by approximately 45% since January 2024.
Similarly, the S and P 500 has shown weakness of its own when measured in Bitcoin terms despite hitting, again, nominal highs in terms of the United States dollar. The index now trades at approximately 0.078 BTC per unit, down from 0.12 BTC in 2024, representing a decline of 35% in terms of Bitcoin. This divergence suggest a growing shift in market dynamics where traditional safe haven assets and equity markets are underperforming Bitcoin as a store of wealth and unit of account. As institutional adoption of Bitcoin continues to grow, Roxom's platform provides a crucial bridge between conventional financial markets and the emerging Bitcoin based financial system.
This integration may help facilitate Bitcoin's broader adoption as a standard unit of account in global finance, marking a significant milestone in the asset's institutional evolution. Okay. I understand what they're trying to do. I I really do. But, again, it's it's a hard it's okay. Look. It's just gonna be a hard sell. Bitcoin itself is a hard sell. It just is. Having somebody who's used to dealing with trading gold and S and P in terms of the United States dollar, which is, like, almost everybody, having them say, you know what? There's just way too much volatility in in the United States dollar. And they'd be right. There there is. But when they also, in the same breath, say, I'm going to use Bitcoin instead.
I I'm sorry, but I gotta kinda laugh. So so you're a fish frying in a pan, and you get to get out of the frying pan and into the fire. Oh, okay. Hey. If that's the way you wanna play it, man, you know, bucky for you. But, dude, all I can say is, one, good luck. Two, I am glad that somebody is doing this, but I think it they might find themselves a little bit too early to this game. I hope I'm wrong. I I really do. I I hope I'm wrong. Now moving on to Chuck E. Not Chuck E. Cheese, Chuck Schwab. Charles Schwab sees 90% spike in crypto interest, and they plan a spot Bitcoin trade in 2026.
I guess they're going to allow it. I don't know. Micah Zimmerman will tell us more out of Bitcoin magazine. Charles Schwab is seeing booming engagement from retail investors in its crypto products. Again, pausing to emphasize retail. Everybody's asking, where is retail? Where is retail? Well, I I think that they're being held up. I I literally think retail is being held up by people like Charles Schwab and JPMorgan and all the rest of these cats that are just now trying to figure out how to open the doors to their brand new products. But this is not institutional.
This is not commercial. This is not any of the other stuff, man. This is like this is like the plumber with the Charles Schwab account. I mean, Charles Schwab literally represents retail investment in The United States, and they've been the poster child for retail investment in The United States for fifty years. So it's kind of an important deal. But in an interview with CNBC CEO Rick Wurster said that visits to Schwab's crypto platform have increased by 90% year over year, signaling strong investor appetite for Bitcoin ETFs, Bitcoin futures, and other crypto exchange traded products.
Schwab clients now hold roughly 20% of all crypto ETPs, exchange traded products, in The US. Wurster emphasized that the company is responding to this demand by providing a wide array of crypto investment options and educational resources, thank god, combining digital access with traditional client support through calls and branch offices. Charles Schwab will also offer spot Bitcoin trading in the 2026. Rick Wurster, CEO, shared the news during Schwab's third quarter earnings call where the company reported a $134,400,000,000 in net new assets, marking a one no. A 48% year over year increase.
Earlier this year, the firm announced plans to offer Bitcoin and Ethereum trading driven by client demand, noting many wanted to consolidate their crypto holdings with Charles Schwab. Worster's thoughts in the Charles Schwab's earning call marked the first time the bank put a tentative date on the initiative. The push into crypto comes alongside Charles Schwab's broader record breaking quarter. Total client assets oh, god. Total client assets reached $11,590,000,000,000. That's trillion with a t. 11,590,000,000,000.00, up 17% year over year, and daily average trades jumped 30%.
The firm's strategy, Wurster explained, focuses on offering both advanced trading platforms like Thinkorswim. Oh, come on. This literally spelled think or swim. Thinkorswim. And guidance for new investors making crypto accessible and understandable for a broader audience earlier this month. Morgan Stanley. Now Morgan Stanley released their report telling clients to allocate at maximum between 24% of their portfolios to crypto, primarily Bitcoin, based on risk profiles. The report described Bitcoin as a scarce asset akin to digital gold and suggested it could play a legitimate role in diversified strategies.
It recommended regular portfolio rebalancing, ideally quarterly, and gaining exposure through exchange traded products to manage volatility, because God forbid, volatility. The guidance followed the firm's expansion of a digital asset access via e trade and coincided with Bitcoin reaching a new all time high of around 126,200. Earlier this week, US Bank announced their new digital asset and money movement organization in hopes to, quote, accelerate development of and grow revenue from emerging digital products and services such as stablecoin issuance, cryptocurrency custody, asset tokenization, and digital money movement, end quote.
Also, institutional holdings in Bitcoin ETFs rose to $870,700,000 in the third quarter twenty twenty five. That's up 117,300,000.0 from the previous quarter. Kind of a throwaway sentence there at the end. It needed to come somewhere else. But, again, it is recommended that regular portfolio rebalancing occur quarterly. I've got too much money in Bitcoin. I need to sell some and get me some of that Nvidia because I hate volatility in my portfolio. Do do you hear yourself? This is not the asset that you wanna be rebalancing. Here oh, look. This is I I gotta say it because otherwise, I'm gonna get sued if I don't, even though I'm a small fry podcaster in Bitcoin.
If you've got a portfolio that's got bitcoin in it, don't don't rebalance the bitcoin. Rebalance everything around it. Alright? Just rebalance everything around it. And if for whatever reason, your rebalancing suggests that you sell some of the other assets and buy more Bitcoin, then do that. You know? But don't sell the Bitcoin to buy more treasury bonds, if that's what your financial guy is telling you, because that's just dumb. Rebalancing has its place, and it's very, very far away from selling any of your Bitcoin. Let me just say that. Alright. Last up for the day, Michael Saylor's strategy takes another small step towards 700,000 Bitcoin, Helen Parks, CoinTelegraph.
Michael Saylor's strategy, the world's largest public Bitcoin holder, added to its BTC stash last week amid another market sell off following the Black Friday crypto crash. I guess they finally started using the term Black Friday. So you wanna know the number? This this mega awesome number of BTC that Sailor bought? Yeah. It's a 168. Not not not 1,680. Not a 168,000. No. Not 16,008 no. A 168 Bitcoin. It's worth all of $18,800,000. He bought it last week according to data. The latest Bitcoin acquisition was made at, wait for it, an average price of a $112,051.
He's he can't win right now. Though Bitcoin slipped below a 104,000 on Friday amid the shock waves of the market crash October 10. With the purchase, strategy now holds a total of 640,418 Bitcoin purchased for about $47. Wait. Oh, I'm sorry. $47,400,000,000 at an average price of $74,000 per coin. Straight strategy's latest 168 BTC purchase was another small addition in a series of minor buys, a notable contrast to its massive Bitcoin hoarding earlier this year when monthly purchases averaged around 25,000 BTC in April and in May.
Based on an average monthly buying pace of 5,620 Bitcoin over August and September, when strategy purchased 7,700 and 3,500 BTC respectively, it would take roughly eleven months to reach a total of 700,000 on its balance sheet. You never know. He may that may be exactly what he wants to do. But this latest Bitcoin purchase followed a 220 BTC buy for strategy for 27,200,000.0 the previous week, which came as BTC briefly hit the new all time high above a 126 k before plunging. Plunging, I tell you, to a 110,000 in the October 10 Black Friday market crash. Strategy's Bitcoin purchases came as its common a stock, MSTR, extended losses last week, falling back to levels not seen since April.
According to data from TradingView, MSTR slid below $284 last Thursday, marking a continued decline of 21% since October 5. Despite the losses, strategy stock is still up 50.4% from where it stood one year earlier with a massive 1650% surge in the past five years. The lowest price of MSTR shares so far this year was about $238 per share recorded April 7, while the highest was in July at more than 455. Talks of volatility there. While strategies Bitcoin buying has slowed notably in recent months, many companies have followed its lead with BTC treasury plans aggressively accumulating the asset.
Yeah. I wouldn't say aggressively accumulating. I I definitely say aggressively announcing announcements, but not so much as general accumulation. But, hey, let let them do whatever they're gonna do. Meta Planet, a Japanese hotel company that went for Bitcoin treasuries in July 2024, has hoarded 30,823 by September, only to see its enterprise value fall below the value of its Bitcoin holdings last week. Yeah. It went down to, like, point nine eight was the last number I saw. Meta Planet's market to Bitcoin NAV or m NAV slipped to 0.99 on Tuesday and then tumbled deeper to, oh, shit, point nine on Saturday, so point nine zero.
Damn, sun. You're losing losing your shit hand over fist. Anyway, while the potential outcomes of the event are yet to be seen, Meta Planet has not bought more Bitcoin since it made its most recent BTC acquisition, and that was announced on September 30. So that's that's it, man. That is all I got for you today. I do hope you enjoyed hearing about all the news that you can use. I'm just gonna go ahead and kill it here, and I'll see you on the other side. This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
Opening, schedule talk, and show rundown
Bull Bitcoin wallet teaser, Liquid sidechain mention
Market check: energy, metals, ag, equities, and Bitcoin
Boosts and Fountain update; segue to part two
Closing remarks and sign-off
