 Welcome to Digital Asset News. Take a top story as in cryptocurrency and digital assets and break them down to bite-sized pieces. Today, just like the thumbnail suggests, I think we're in the golden era of Bitcoin mining and hopefully price appreciation to follow. And there's really three things that makes this all stand out. And this was just a couple of headlines that I had picked up and taken a look at. And first up is that Bitcoin miners are not selling. Second up is that the energy consumption has dropped by under 50% from what it was before. And then lastly, the mining difficulty has dropped precipitously. And all these things have occurred as the Bitcoin miners have had a mass exodus out of China into places like Kazakhstan, EU, and North America. So we'll take a look at that on top of the fact that Ricardo Salinas, who apparently is the Mexico's third richest man, says he recommends Bitcoin and his bank is looking to accept Bitcoin, which is one of the largest banks in Mexico, Banco Azteca. So we'll take a look at those stories. But first, let's take a look at what's going on in the market. So just so you know, we've got a nice little recap of one point, almost one point four trillion, far as the market total, total market cap. And we're pretty good because we were at 1.1 trillion. Now we're at 1.4, so a little 300 billion, not too bad. And just so you know, the Bitcoin price is almost 34.5. But the big news is, first of all, everything's up. I mean, you have to know that for right now. But we took a massive hit. We were at $2.5 trillion in April. And now here we are at 1.4. Not too bad, but still not the ideal. Now where I expected us to be, but here we are. And just so you know, Ethereum is making quite a big headway. And it's over $2,000 yet again per Ethereum. And it is up roughly almost 16%. Why? Why is it up? Well, if you were to fall on the channel or any other channel, really, you'll know that Ethereum is coming up to its EIP 1559, where all those Ethereum gas fees are hopefully starting to be decreased with that London hard fork. And as this happens, it's supposed to happen sometime in July, it's all based on blocks that are minted. So just so you know, you're going to see Ethereum go up and up and up. But usually around the time that things actually happen, it'll actually decrease as people sell off. So on this channel, this is not investment advice. It's just investment opinion, but just being a lookout for that. And everything's up today. So we'll see what happens. And in my personal opinion, I'm not a big moon boy, I'm pretty conservative. I think we're going to move sideways for quite some time. And nothing's really going to happen until August. Hope I'm wrong. Pray I'm wrong. But we'll see what happens. So let's jump into today's top story. So first up, this is pretty good. Bitcoin mining outflows. And all this really comes down to is we had a couple of interviews. We had Ibrahim from CoinMine or CoinOne and CEO of a Bitcoin mining company over there in the UK or England. And he talked about how he's had a massive influx of these Chinese Bitcoin miners saying, we need to set up shop over there now. And then the same thing happened with Winston. Winston CEO came in, said the exact same thing over here in Texas. He said he's got to just a massive influx of people saying, hey, we want to set up this Bitcoin mining operation today. Well, the problem is that the infrastructure can't handle it. And as these people start to move over, they're going to need this thing called money to set up all their different operations. And this is what's going on right now today. And my question is, actually, my statement is this, I think they sold a lot of Bitcoin in preparation for what they had to do with, which was their mass exodus. So here's what's going on. So according to data provided by Glassnode Analytics Vendor, Bitcoin miners are hardly selling any Bitcoin at the moment. And there's this nice little graph, which comes up right here. And I'm just going to blow this up so you can see it. Here's the graph from Glassnode and good for them. So what it has here on the left hand side is all the outflows of Bitcoin. So it goes from zero to 6k. And then on the far right hand side, we're going to see at the price of Bitcoin, which goes, it's at 80k, but it hasn't hit there yet, obviously. And 60k, 40k, 30k, all the way down, right? So as we can see, moving forward along on this line, massive outflow in 2016, up and down, up and down, 2017, 2019, not a big deal. And then we just see a huge drop off around May or June, moving into, this is in 2020. And then January, there was a massive sell as well, because the price of Bitcoin up, I got to tell you, I should really be just following these Bitcoin miners, seem like they seem to know when the right time to actually sell is food for thought. And then here's the price as it goes down. But you can't see my mouse. But right here where it has 800 is a big circle. Here's the outflows right now of the miners selling their Bitcoin, not selling too much. And it is the 28th of June. All the selling happened about a month or so ago, we'll just say three to five weeks ago. And I think that's when all these miners realized like, hey, the jig is up, and China's going to crack down. And when you start moving, and they needed to to move operations, to move football fields worth of Bitcoin miners, pay for the infrastructure, pay for the employees, pay for the packaging and shipping of all the miners. It takes a lot of money. So they had to do it, get it somewhere. And that means they had to sell a bunch of Bitcoin. Well, all that's over. Because on June 20th, that was the deadline for these Chinese provinces to cut off the power supply to these Bitcoin operators. And they did it. And that's why we saw a huge reduction in hash rate. That's why we saw a huge reduction in energy consumption. And also, we're going to see a huge reduction in the difficulty level. And I think this is great news, because we had to go through that pain for them to sell everything and shut it all down to move it to wherever they had, and then maybe set up operations. I personally don't care if they set up operations again. But, and I'll get to that in a second. But right here, what we see is the selling of Bitcoin by miners, which I think was pretty massive, which could also have led to a cascade effect, is done. So in July, hopefully we have a little recovery. August, September, October, November, see a little bit more price action. Again, not financial advice, just financial opinion. That's just how I seize it. So that is the first story. And then the second story, if we look even further, is about Bitcoin mining energy. So this is from Decrypt. Bitcoin consumption has down, how far down is the real question. So currently, Bitcoin consumes 68 terawatt hours of electricity per year. Quite a bowload. But that's not so bad as for what it was, because Bitcoin was consuming up to 130 terawatt hours, placing it comfortably among some of the world's leading countries by energy consumption. So imagine that. This is the same thing we've heard about all along. And yes, there's a lot of electricity, but guess what? It's the most sound money principles out there. So, hey, you know what? The banks use a ton of electricity too, and all they do is seem to take our money. So what are you going to do? And then this leads to a fall of 51% since May 10th. And then just to reiterate what I just talked about, it's also telling that we've seen an increase in Chinese-linked mining entities selling Bitcoin since this began almost certainly due to the cost of relocation. And that's a Jason Dean Bitcoin analyst at Quantum Economics. And I couldn't agree more. So look, I know some people thought this was going to be awful news. I thought this was like a gift from the heaven to actually be given these Bitcoin miners leaving out of China. I thought it was going to take a lot longer because of the free market, but the Chinese government did it for us. It's fantastic. And again, I feel sorry for the Chinese people, but it's the government that really laid down the law and kind of screwed everybody over there. And now they're going to have the digital yuan. I think that's going to be more control. And if they don't like what you're doing, they'll probably just shut down your wallet. So that's the second of three stories, which leads me to my next point when we talk about Bitcoin mining hash rate. And this was a story that just came out yesterday. And just so you know, as the hash rate drops, because all the Bitcoin miners, there's all these tens of thousands of Bitcoin miners, once they start to fall off because, you know, they have no electricity in China, then all of a sudden the difficulty level goes down. So I think this is great news for the individual Bitcoin miner. So the hash rate fell from 91 exahashes on June 23rd, which was after June 20th, just what we talked about, falling to crackdown in China stemming from five Chinese provinces, shutting everything down. And then between then and over the last three days, the hash rate has increased nine to 13%. I don't know if that's because other ones just came up on board or the individual miners came up, but that's a pretty big jump, 9% to 13%. The next mining difficulty drop, which I think this is the big thing, is expected to happen in five days. In a current processing power, it could drop around 20%. So look, I had a big problem at one point with the centralization with all these Bitcoin miners. And I kind of let, you know, just let it go, well, you know, it'll be okay, it'll be okay. But in hindsight, we should have been a little bit more up in arms about it. And it was just too centralized. Now that we see it moving out of China, now we're going to see it, unfortunately, and fortunately, I think it's going to, they're going to see a lot of that in Europe, of course, Kazakhstan and North America. My other concern now is in the short term, this is great, it'll get out of China. And there's a little bit more of renewable resources, which everybody's up in arms about for some reason. So it's got to be renewable resources. So we can actually track that and have audits because we're not in a communist country and go from there. Hopefully it all works out. The problem that I see moving forward is the concentration of miners than in North America or specifically America. And whatever you want to call it, hopefully free market takes over and we can displace it all around the world. But that is what it is. You know, now I think about it really in reality, I'd rather have it here in America, than I have to deal with the communist country of China and have them with all their whatever they're doing over there. And again, sorry for the Chinese people, Chinese government really screwed you. And that's, that's a shame and you can't get cryptocurrency. So let me just think of the comment section. I think overall this is great news. And let's finish up with our last piece, which is the Mexico banks, which this is all about Ricardo Salinas. And apparently, I remember him being the second richest man in the world, or in Mexico, now he's a third richest, I guess he maybe lost a couple billion, but what's a couple billion among friends? States, his bank is working to accept Bitcoin. So just so you know, Ricardo Salinas explained that he considers Bitcoin a financial asset. So it is not important to him whether Bitcoin is a currency or not smart guy. And he says, he says precious metals are also not currencies. I think it's interesting that you can use Bitcoin to the store of value, like how we have it here in America and Australia and UK, or you can have it as a currency, like what they're doing in El Salvador and Paraguay and Central America and probably maybe towards in Mexico. So I think it's, it's amazing you can do both of those things. You can't do that with gold. You can't do it with silver. You can't do it with painting. Look, I own all three of those things, gold, silver and paintings. I mean, not good paintings, but okay. And I would just tell you like this, I can't go to 7-Eleven and pick up a Slurpee, whatever. I just can't use it. I can't even use gold, a gold bullion, to go purchase a new vehicle. I have to cash it out and it's still a store of value. So to have Bitcoin be built, I think it's pretty great. And it's one of those hard assets. So he states for me, Bitcoin is an asset that has extraordinary properties. All the advantages that Bitcoin has makes gold the modern world. I agree. Salinas is the owner of Mexico's Banco Azteca. We travel in Mexico quite a bit, seen them all over the place. And they got like thousands of different branches. And this is what was interesting. He recommends having Bitcoin in investment portfolios. He says Bitcoin is an asset that has international value. It's traded with enormous liquidity worldwide and should be in any portfolio. And people ask me like, Rob, why do you even talk about these billionaires? Who cares what they say? This is why. Because like Mr. Salinas here, I mean, he's a billionaire. Also, he owns a bank and he's trying to get Bitcoin into it. So when we start to hear about these bank owners who are big into Bitcoin, that's good for the whole industry. I mean, people can listen to me and that's great. And I appreciate you watching the video. But for the mass effect for people to really come on in is probably a guy who's got a couple billion laying around and deals with the traditional finance system, has his own bank and now wants to get Bitcoin into it. So, yeah, I like when people say stuff like this because it leads to massive adoption. And then to finish up, he states, governments don't like Bitcoin. It burns in that people can get out of their fiat trap because that's what fiat money is, a fraud. The fraud fiat is inherited to the fiat system and we can see it today in the US, the dollar as hard currency as a joke. And then he gives an example where when he first started in 81, the exchange rate was 20 Mexican pesos to a dollar. And now it's 20,000 pesos for a dollar. So if you think it's really bad as far as like the purchasing power of your fiat currency, imagine holding Mexican pesos. And I remember in cash in 2005, when I moved to El Paso and we go over to Juarez and you could, I mean, the exchange rate wasn't that bad, but now it's just ridiculous. So I mean, that's a bummer because the purchasing power goes down. But let's call a spade a spade. We're even losing purchasing power of the dollar. And that's why people are so excited about cryptos and digital assets. So that's just my opinion. And then he talks about Venezuelans and Bobway and how the fiat just goes to zero. And actually Mahoney on his gold program talks about that every single fiat currency has always gone to zero throughout the entirety of the human civilization. So if you think that the US dollar is going to be around forever, hint it is not. And then lastly, the billionaire confirmed that 10% of his portfolio was in Bitcoin, which is pretty great, right? These billionaires are like, yeah, you know, like PTJ, Paul Tudor Jones and Duck and Miller, they're like, yeah, I got a little bit, but sling this is like 10%. Yeah, 10% is in Bitcoin. I think these guys, they're just trying to try to play it down a little bit. They probably have more than what they say because big players don't tell you exactly how much they got. They front run you first, buy it all up and then go, hey, I bought it, I have a bunch. And then you're like, oh, he's got some, I got to get some. That's how it works. He says, I recommend the use of Bitcoin. And me and my bank are working the first bank in Mexico to accept Bitcoin. And this is hot on the heels of what we just saw with NY Dig and a bunch of credit unions and small to mid-sized banks. And I think it's one of the ways for the banks to compete. And I think this is, this is fantastic. So, look, I know it's been a rough three, four months, well, two or three months, we'll say. But I do believe that the market is due for a turnaround. I don't see it happening in July. I think we'll just gain momentum and then August off we go. So that is what we got here. So, look, that is it for today. If you liked the video, give it a thumbs up, give it a like. Appreciate that. Also consider subscribing. All the things we talk about on this channel are very time sensitive because it's all daily news. And then for over on Dan Clips, we talk about new advancements in crypto. And we just got done interviewing the CEO of meld.com. And meld, it's built on the Cardano blockchain. And it's looking to be the banking infrastructure for Cardano. And it's got this, it's pretty crazy. It's allows you to take out DeFi loans. And because of the protocol, liquidity providing, and then the fees, it pays for the loan that you took out. And the interest is only thing that you owe. I'm going to let the CEO explain to you that'll be over on Dan Clips. The link is in the description that I'll be dropping today. That's it. So thanks so much. I appreciate it. And we'll see you on the next one.