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The most powerful people on earth have 6 trillion reasons to want Bitcoin dead. Over the past year, they have taken three steps to stop him. The fourth is the vote, which will take place in less than a month. 6 trillion dollars. This is the figure given by the CEO of Bank of America, estimating the amount of money leaving America's banking system.
At a time when the dollar can generate real income where the bank has no influence. The Federal Reserve separately studied the same issue and came to similar conclusions. Under a widespread implementation scenario, the lending capacity of American banks could be reduced by more than a trillion dollars.
Banks have been fighting Bitcoin since its inception for one reason, and it has never been about volatility, energy consumption, or anything else they talk about into the microphones. The thing is, Bitcoin exists outside their system. And their entire business is built on the fact that your money is inside it.
Last July, they won a round that seemed decisive . Trump signed the Genius Act, the first federal set of rules for stablecoins, and inside it was a clause that the banking lobby paid for. Stablecoin issuers cannot pay you interest. They won and calmed down. They had a ban. What they didn't consider was the rest of the law, because the same act that prohibits stablecoins from paying you also specifies what they are required to hold in reserves.
And this list is short. Short-term US government debt or cash as close to it as possible. Nothing long-term, nothing risky, which means that every dollar that goes into a stablecoin immediately goes towards buying Treasury bonds. The coin has landed—bonds are purchased automatically, mechanically, without anyone's additional decisions.
Treasury Secretary Scott Bent saw what this meant before almost anyone else. He stated that a thriving stablecoin ecosystem would boost private demand for US Treasury bonds, lower the cost of government borrowing, and help contain the national debt. He called it a triple victory. He then raised his own forecast to $3 trillion by 2030.
The tenfold growth, he said, was made possible by the Genius Act. The US Treasury Department is now openly counting on this market to finance public debt. And it's already working. Tether alone now owns more US government debt than most countries in the world. So, Washington got a mechanism that buys its debts every time someone converts a dollar.
The banks received something completely different. Deutsche Bank’s own research report clearly indicates where the next wave of stablecoin growth will come from. Outflows from domestic and offshore cash pools. This is an analyst from the bank itself confirming in writing that the growth is being financed by money leaving the banks.
And stablecoins now account for about 3/4 of all trading volume in Bitcoin and other digital assets. This is the most common way to buy Bitcoin in the world and the most common way to transfer money abroad without asking anyone's permission. Every dollar in this system is a dollar that left their system.
This is the first moment. The law applied to issuers . It never mentioned stock exchanges. Within a few months, Coinbase began paying customers about 4% per annum just for storing USDC. Other platforms offered similar conditions. The issuer did not pay anything that would allow it to comply with the letter of the law, but the exchange did, since it was not subject to the law from the beginning.
The Blockchain Association led an industry coalition in telling Congress that lawmakers intentionally kept rewards on platforms. The banks called it a loophole. The industry called it a deal they had agreed to. Both sides argued over the same words. Fed Board of Governors member Stephen Moran gave a speech in November, a few months after the law was passed, in which he said he saw little prospect of a massive outflow of funds from the domestic banking system.
He was looking at the wrong door. All this time, one person has been more vocal than the others about what they think about the asset that underlies this. Jamie Dimon called Bitcoin a fraud. He called it his " favorite stone." He told Congress that if he were the government, he would ban it. Remember this.
But I'll come back to that in a moment. The reason you should pay attention to this is the difference between two numbers: 4% and how much your savings account is earning. $ 6 trillion is an amount that moves when a large enough group of people notices this difference. And now there are people in Washington working to ensure that you never have that opportunity.
This is the second moment. The American Bankers Association has made closing this gap one of its top legislative priorities of the year. Thousands of bankers signed letters to Congress. The Clarity Act became the tool for this. Most of it is technical regulation, dividing oversight of digital assets between the Securities and Exchange Commission (SEC) and the CFTC.
And inside it is Section 404. It extends the ban on paying interest from issuers on the exchange, with one caveat that is worth mentioning frankly. He is targeting rewards for money that is just lying around doing nothing . On balances that look like a bank deposit. Rewards associated with real transactions may remain.
So, he doesn't close the door completely. It closes most of the gap and the part of it that scares banks the most : 4% per dollar, which does nothing. Coinbase withdrew its support in January, and the Senate vote was postponed. The revised draft appeared in March. The next day, Circle shares fell by almost 20%, and Coinbase by almost 10%.
Jamie Dimon publicly criticized Brian Armstrong, warning that the bill could fail if lawmakers do not address the banks' concerns. Now here's what they were doing while they were saying all this . JP Morgan, Bank of America, Citigroup, and Wells Fargo have explored the possibility of issuing their own stablecoin pegged to the dollar.
They never claimed that stablecoins were dangerous. They argued about whose stablecoins had the right to exist. This is the third point. Which brings us to what happened this week in the middle of the night. The Senate was supposed to go on August recess. And before breaking up at dawn, Majority Leader Chuck Schumer filed a motion to consider the bill and went home.
Working until dawn after a scheduled departure is not the actions of a chamber that cares about the outcome. This motion sets a vote for 2:15 p.m. on Tuesday, September 15, the day after the Senate returns. This is a procedural issue. It only determines whether the chamber can begin debate. It requires 60 votes, which means at least seven non-Republican senators must say "yes." Two Democrats voted yes in committee, and six more votes are needed in the floor.
And there are no votes yet for several reasons. Democrats, on whom this decision depends, are making ethical provisions regarding the president's own assets and rules against illegal financial transactions in the bill a condition. And the debate over the profitability of stablecoins—banks versus industry—is still unresolved.
This is what is important to us , as the banking lobby continues to influence who can offer you income, right up until the vote itself. And there is another thing that banks do, calling this asset a fraud. And that's what gives away their true game. First, about what solves the problem that many of you have written to me about.
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Visit saltlending.com/green-candle or follow the link below to get your exclusive offer today. Let's go back to Jamie Dimon, who called it a scam and a " toy rock" and wanted to ban the whole thing. His bank's reports to the Securities and Exchange Commission tell a very different story. As of the first quarter of this year, JP Morgan owned approximately 8.3 million shares of BlackRock’s Bitcoin ETF.
And this position grew by 174% in just one quarter. They accept Bitcoin ETFs as collateral for loans. They allow institutional clients to pledge real Bitcoin. They have applied to issue structured notes backed by bitcoin. And all this from a man who told Congress he would close it, and who runs a bank that spent two years building a business on it.
And when you compare these reports with the statements, what seemed like a contradiction turns out to be the most consistent strategy in American banking, because the two positions were never about the same thing . JP Morgan is happy to hold Bitcoin. They store it, lend against it, package it, and charge a fee every step of the way.
Bitcoin on their platform is an income item with their name on it. What they can't survive is Bitcoin as an exit. The exit is the door. This is the point when your dollars can leave the bank and continue to generate income. And when that door opens, the advantage that banks have had for 90 years disappears, and every product built on cheap deposits is revalued at the same time.
Stablecoins are the first proof that the exit is real. And bitcoin is what stands on the other side, which leaves only one number to calculate, and that is the one that the banks have already calculated themselves. First, if you plan to hold this asset through what's coming, the rest of your financial life should be built around it.
Retirement accounts, tax liabilities, priority of sale of any assets. Strongwealth works with people who have significant positions in Bitcoin and need a plan built around the asset, not against it. These are financial advisors for Bitcoin enthusiasts. So, visit strongwealth.net and they will give you a free consultation today.
At the time of this video, Bitcoin is trading at around $65,000 with approximately 20 million coins in circulation. The market capitalization is almost $1.3 trillion. $6 trillion, according to Bank of America, is the amount leaving the banking system. Stablecoins are the first place where funds go, and stablecoins are the main entry point into Bitcoin.
If it all eventually made it there, the market cap would reach $7.3 trillion and the price would rise to around $365,000 per coin. Now let's disprove their own number because it breaks down three price levels. 6 trillion is a threat assessment by a bank manager, not a measurement. Market capitalization is price multiplied by supply, not the amount of money invested.
And in the first half of this year, while stablecoins were growing , Bitcoin's share of market entry actually fell, as money went into stablecoins for yield, and a significant portion of it stayed there. There is a broader version of this last statement, one that even banking analysts make : stablecoin demand for Treasury bonds is real, but it still doesn’t save the United States from the debt trap.
The movement of capital is real. It doesn't all settle here. So let's take a fifth of it. A 20% conversion raises the price of Bitcoin to almost $125,000. And this figure withstands all the objections I just raised against myself. So, on September 15 at 2:15 p.m., 60 votes are needed, and seven of them must come from senators who do not want to give them up.
The American Bankers Association spent its most active year lobbying to bring this day closer, and thousands of bankers signed on. The fight for the profitability of stablecoins is still ongoing within the party that wrote this bill. And the country's largest banks own 8.3 million shares of the same asset that their CEO promised Congress to close.
Look at what they do, not what they say. And I will cover all of this on this channel. So be sure to subscribe and watch one of these two great videos I have prepared for you right now.
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