Bitcoin: They Are Blocking the Exits

There is a game being played that you aren’t aware of. A game that you aren’t supposed to know. The US government on the outside is maintaining a calm demeanor but is secretly panicking on the inside. As crazy as it sounds, there is a real risk of a complete financial collapse in the US. Evident in the recent banking crisis that began to cause panic after the closing of several banks. The contagion will likely spread much further and this is only the beginning. The US is fighting to maintain control over its greatest strength; the US Dollar being the world reserve currency. The risk for America has never been higher. Inflation is rampant, the country is deeply in debt, large countries around the world are beginning to transact outside of the dollar, and Bitcoin is becoming stronger every day.

Over the last several weeks the general public is beginning to wake up to how serious the situation really is. That their money in the bank actually isn’t theirs. There is no guarantee it will be returned to them when requested. That inflation isn’t going away and their life savings are being devalued right in front of their eyes. Also that they no longer trust the government to act in their best interests.

All of this is leading people to understand that Bitcoin fixes all of these things. It was created for this exact type of situation. Bitcoin is the escape valve, and people have begun exiting traditional financial assets for it. The only problem is that the US government also is aware of this and they are fighting back. To keep people in the dollar and in a final attempt to maintain their power. They are trying to block the exits.

It all started nearly a month ago. Nic Carter, a famous VC within the cryptocurrency industry, began warning that the US government had a secret plan called “Operation Chokepoint.” This strategy’s purpose was to penalize any bank that did large business with crypto companies. Essentially blocking the fiat on/off ramps to exchanges. The first victim to fall was Silvergate bank. Then Silicon Valley Bank went under, and Signature bank followed hours later. Suddenly there were very few remaining banks that worked with exchanges.

Fast forward to this week and Kraken has announced that they will be pausing ACH bank deposits/withdrawals. A clear result of them simply not having banks to work with. To top things off, the SEC has just sent a Wells Notice to Coinbase. Attempting to go after them for their staking services and crypto asset listings. Each day the evidence is becoming clearer that we are definitely in the, “then they fight you” stage of crypto adoption.

All of this is happening at the same time that the $1 million Bitcoin bet by Balaji has been all over the news. While the price prediction of the bet has made this a very controversial topic amongst people in and outside the cryptocurrency market. There is one important aspect that we should all be paying attention to. Throughout all of his interviews, he has been claiming that very dark days are coming. He claims that the US is well aware of this, that Bitcoin presents an escape, and that they are attempting to block the exits. His 9 bet also perfectly times up with the projected release of the US digital payment FedNow service.

For those of us who follow the market closely, the warning signs have been everywhere. There are too many for them to simply be a coincidence. There may be a time in the very near future when it is nearly impossible to use cash on exchanges to buy Bitcoin or crypto. This isn’t a time to worry about profits, yield, or even crypto innovation. This is a time to worry about the safety of your assets. For that, Bitcoin is the answer.

Now, what could this mean for the price of Bitcoin? Initially, it could send the price downward. However, if exits are blocked it could radically speed up the timeline of Bitcoin being used as people’s unit of currency. Stablecoins wouldn’t be able to be cashed out for fiat. People likely would opt to convert it to Bitcoin, which could still be withdrawn from exchanges. This along with the fact that obtaining Bitcoin would become much more difficult would cause demand to rise significantly. This could result in the price increasing.

The next few days, weeks, and months could be very difficult. But we must be ready for anything. Your conviction in Bitcoin and crypto will likely be tested, and there will be extreme FUD.

How about you? How are you reacting to the crypto exits being blocked?

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