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Black Rockck just revealed something very interesting about countries and Bitcoin, about nations that are buying BTC. We're going to talk about that and a whole bunch of other topics today. Prediction about its prices, IMF, a Kraken, and plenty of other topics. Every day, the best crypto news. Hello everyone and welcome to Crypto Red.
Let's start with the BTC price. We have uh BTC at $91,000, Ethereum at $3,100. And I'm going to go straight into the big news of the day. comes from Larry Frink, the CEO of Black Rockck. During an interview he just gave, he revealed something very interesting. He revealed that sovereign wealth funds are still buying Bitcoin.
He said they're buying regularly in steps. They bought at 120,000, they bought at 100K, and recently they bought heav heavily around $80,000. So during the BTC drop, when we were wondering who was buying the the dip, well, it was sovereign wealth funds. nations were actually buying the dip and accumulating BTC.
This is really interesting because it shows that countries still have confidence in BTC. We don't know which countries, he didn't reveal the names, but we know that recently Abu Dhabi bought bought BTC. Luxmbourg bought BTC. We don't know if more countries are still buying, but probably yes. And above he said they're buying for the long term.
They're building a position, not trading. He said it clearly. This is not a trade. this is really a long-term multi-year purchase and they plan to hold that position for a year. That's what's so interesting and it's also why some people say, "Yeah, the cycle is different." And I actually agree with that.
This cycle is different. The institutional buyers come in now are here for the long haul. They're here for the very long term and they buying mainly through ETFs. That's why Black Rocks knows all this. Their BTC ETF is the biggest crypto ETF in the world. It's also the ETF that generates the most revenue for Black Rockck and they also have an Ethereum ETF.
It's the only other crypto ETF they've launched. They haven't launched ETFs on Solana, XRP or anything else. I think they want to focus on these two cryptos for now. It's where the client demand is. And honestly, if they saw huge institutional demand from other clients, they'd launch. But they have nothing to lose in fact by launching more ETF some initial cost.
But since they don't see massive demand yet, they sticking with BTC and ETH. So yeah, on the Black Rockck topic, I found it absolutely fascinating. It's also crazy how Black Rockck and Larry Frink have changed their stance over the years uh on crypto. During the same interview, someone re someone reminded him of what he said in 2017 about crypto, that crypto was used mainly by people laundering money.
And he replied, "No, no. I also said it was used by thieves." And he admitted he changed his mind, that he was wrong, and that yes, he has strong opinions, but sometimes he changes them. And honestly, it's to his credit that he did change his mind. Uh we've seen the same thing with most companies that was anti-crypto and that adopted crypto later.
Look at Vanguard. They were completely against cryptocurrencies. They refused to offer crypto ETFs to their users. They refused to launch any crypto ETF. And now they just announced that their clients will be allowed to buy crypto ETFs directly on their platform. Next, let's talk about Ethereum with Bitmine.
The company that has accumulated more ETH than anyone else so far. They and they continue buying it. They just bought $150 million worth of it. Bitmine didn't announce it. We can see directly on chain. So, they keep buying and they now hold more than 3% of the entire Ethereum supply. That's absolutely insane.
They've had a bit more trouble buying recently, but still these are significant purchases. 150 million is not nothing. There was also an interview during Binance Blockchain Week. It's happening right now. And during that interview, they asked the CEO of Bitmine, Tom, uh what his prediction was for BTC and ETH in 2026, at the end of 2026.
And he actually gave a clear prediction. He said he see BTC around 300K. Uh and for ETH, he see it's above 20K. So yeah, it's uh it's really stunning. It's unbelievable right now to to to I can't believe that Ethereum can reach 20K in a few months. It's completely uh unbelievable. It's not exactly a 10x but it's almost that in one year.
Anyway, these are only prediction and he was actually wrong about his end of 20 2025 year prediction. Um now he's pushed this prediction for later in 2026. But yeah, it's still interesting to see how people imagine things, how they see the evolution of BTC and it. And honestly, I don't think it's crazy for BTC to be at 300K in a year.
For it, his prediction is yeah, it's much more optimistic. I think it's ultra it's a really uh really optimistic scenario, but I'm convinced it will eventually reach 20K, but I don't agree on the time frame with the with with the CE of Bit Mine. The only question is when. Uh honestly, I don't know. It can be late 2026 or late 2030.
Uh absolutely no idea. But my investment horizon is long, so I'm really not worried about that. Then let's talk about the IMF. The IMF just published a report on stable coins. And you can clearly see how scared they are of stable coins. They basically said, and I agree with this conclusion, that in countries where the national currency is weak, stable coin risk replacing that currency, which would make central bank lose control over their own money, over their own the money used in their country.
And yes, of course, that's true. In any country with a weak currency, people already use alternative currencies. Not on the official market, but still. You go to Argentina, there's ton of dollars in circulation. In many countries facing high inflation, people find alternatives and trade in currencies they trust.
It used to be the dollar. Maybe it will be USDT next. Um, but yeah, we I totally agree with that. We're going to see this happening in more and more countries. Next, we have an interesting integration that was just announced for a lending maring protocol everyone use. One of the safest in the world.
They just expanded their integration with co- swap. It's um co- swap. It's an aggregator. If you want to buy cryptocurrencies, you could call it a DEX aggregator. It finds the best possible route on chain to execute a trade. There are also intermediate actors that search the blockchain for the best price and let you buy crypto at the best possible rate.
Co- swap is an excellent platform and now it's going to be deeply integrated with a on the swap site. You might ask, but when do we ever swap on a? Uh well, it's useful when you have collateral deposited and you want to repay your depth using that collateral. That kind of things require a swap or the similar operation where you'll need to exchange one crypto for another.
Uh it will be done through uh co- swap and that's great for for this platform. They have also their token cow and the project has existed for a very long time. I really like co- swap. I just use it much less lately because I use um defy lama more. Defy lama is an aggregator that aggregate also co- swap.
So basically I'm using it but indirectly. Next let's talk about solena. Uh Solena staking look look at this graph. It comes for layer 33. A collective whose goal is to create an independent Solena validators and ensure Solena staking stays secure avoiding a situation where a single entity controls too much.
Um and they just revealed that the number of validators on Solena keeps dropping. It went from 96 960 validators to 820 validators. And the question is why is the number of validators shrinking? Because in fact you you need to know that being a validation on Solena is extremely expensive. On Ethereum as you know you need 32 ES which is almost 100K dollars which is already not cheap.
But on Selena you know how much it cost to actually be profitable as a validators. It cost 140,000 souls. So roughly $20 million. So if you're thinking about running a validator on Solena and you want to assess the cost and everything required to actually launch a validator, well there are really some serious hurdles.
You need extremely high performance servers. You need soul tokens and there are very recurring uh very high very heavy recurring costs. All of that means you only really become profitable once you have around $20 million worth of st. And that's when you start to understand why there are fewer and fewer validators.
It's expensive. There are entities that would like to validate but simply can't afford it. On Ethereum, you might say, well, it's expensive, too. And that's true. 328, as I said, it's 100K almost, but it's much less than $20 million. So, Solana definitely has a problem. We all know about the centralization issue of Solana, especially around who can actually become a validator because it's cost a lot of money.
Um, well, yeah, this this cost of soul token is uh will really prevent the network to grow the number of validators. uh so the the I hope the number of validators don't drop too much because if it drops end it end around 100 validators for me that will be catastrophic for Solen next we have a partnership between uh Kraken and Dutch Bors the German company that specialize in the stock exchange operation it's massive company that manage several stock market across Europe um but for now it's just a partnership there's nothing extremely concrete uh between Kraken and and this company but in each brings its own strength.
Kraken brings the crypto expertise. Dutch bors brings the European market infrastructure and they clearly say they want to compete with Wall Street. They don't want to let Wall Street take over the entire crypto space and it's good. But let's take a closer look at Dutch B. I quickly checked Wikipedia who their main shareholders are.
And if you look at the top two, they're American funds, artisan partners and the second is Fidelity, another American company. So two American companies, there's also Vanguard as well. So yeah, already you have more than 10% held indirectly by the US. But still, I think it's a good thing that European exchanges are trying to adapt crypto as well, trying to integrate with the crypto world, offering their clients the ability to buy, hold, store, sell, and even potentially earn yield on crypto through staking.
It's something interesting, and it's good news that Kraken announced this this partnership with the European company. That's what I wanted to share with you today about latest crypto news. I hope you enjoyed the content. Don't forget to like, comment, subscribe, and I'll see you tomorrow for another video.
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