What the Debt Ceiling Deadline Means for Bitcoin

[Inside Wall Street with Nomi Prins]( Maria’s Note: Maria Bonaventura here, senior managing editor of Inside Wall Street with Nomi Prins. Right now, a debt ceiling deal is making its way through Congress. But it could face many challenges ahead. So if both sides of the aisle don’t approve the agreement, our nation could default on its debt by June 5. This would be unprecedented and catastrophic. It would also have severe implications for our economy and markets. Folks are wondering what they can do to prepare. So, today, we’re passing along insight from Nomi’s colleague and world-renowned crypto investing guide Teeka Tiwari. It’s about one of his top crypto recommendations – Bitcoin. Teeka believes it’s a great way to keep your wealth outside of the traditional financial system. And he says it offers enormous upside if the politicians in Washington can’t reach a deal in time. All you have to do is watch for the level Teeka has identified as a major buying opportunity… --------------------------------------------------------------- What the Debt Ceiling Deadline Means for Bitcoin By Teeka Tiwari, Editor, Palm Beach Daily [Teeka Tiwari] Next week, the U.S. will face an unprecedented event… Late Sunday, President Joe Biden and House Speaker Kevin McCarthy reached a deal to raise the government’s debt ceiling. The debt ceiling is the statutory limit on the amount of debt the U.S. Treasury can have outstanding to pay its current obligations. The Treasury Department warned that the government could default on its debt by June 5. If that happens, it would be the first default in U.S. history. Now, the deal must go to both chambers of Congress for a vote. And passing it by the deadline isn’t a sure thing. Both progressives and conservatives in the House have issues with the deal. And there’s a chance it faces a filibuster in the Senate. If Congress fails to raise the debt ceiling by next week’s deadline, we could see severe economic consequences – including a market crash and millions of job losses. Long story short: It could get ugly. So what does that mean for alternative assets like Bitcoin? Longtime readers know I believe Bitcoin is an escape hatch from the traditional financial system. It’s completely decentralized, and there’s no counterparty risk when you hold Bitcoin personally. When you self-custody your Bitcoin, no one can take it from you. The important thing to know is that the debt ceiling talks will have no impact on the long-term price trajectory and adoption rate of Bitcoin. Of course, in the unlikely event the talks fail and the U.S. defaults, we’ll see volatility across all markets. There’s no getting around that. The U.S. is the No. 1 debtor in the world. If it defaults, we’ll have bigger problems than a drop in the price of Bitcoin. But if Bitcoin drops significantly in price from here – I’m talking $20,000 or below – you want to buy it with both hands (while still respecting your own personal risk-management rules). That’s because the mainstream press is missing two major catalysts coming to crypto. One will open the doors of this asset class to trillions of dollars of new capital… And the other will boost crypto adoption to billions of people. Coincidentally, the first catalyst begins June 1, the same day as the original debt default deadline set by the Treasury Department… Recommended Link [Final stage before digital money]( [image]( The end is near… Our financial system is about to be transformed in a way that would’ve been unthinkable just a few years ago. And almost nobody is prepared for the chaos that follows. According to Bank of America, this overhaul is imminent – And Dr. Nomi Prins says the final stage begins in July, with the rollout of the FedNow system. To show you everything you need to know about the FedNow system – and to help you prepare – Dr. Prins has recorded a free presentation with all the details. It’s controversial, but Nomi’s interview is a must-watch for anyone with more than $2,500 in an American bank or retirement fund. [Click here to find out what you need to do to prepare for this historic transformation.]( -- Why June 1 Will Be Bullish for Crypto There’s an important event happening on June 1 that you’re not hearing about in the financial media. That’s when the Hong Kong Securities and Futures Commission will allow crypto exchanges in the territory to service retail investors. China’s financial system has about $19.47 trillion in assets under management. The website CoinGeek said this new rule “will attract capital, particularly from China, by making Hong Kong a possible home for digital asset exchanges to operate legally.” Now, crypto is still banned in mainland China. But this new rule is a loophole that allows the Chinese to invest in crypto once again. The Chinese government will let Hong Kong experiment with new regulations, like the one that’s going into effect June 1. It’s going to watch what happens without having to reopen the mainland to the crypto market. This is a way for China to dip its toes back into the crypto world without putting the financial stability of the entire country at risk. Now, nothing happens in Hong Kong without China’s approval. So clearly China wants this to happen. In my view, China’s government wants to control the Hong Kong exchanges so it can profit from crypto… just like it profits from tech giants like Alibaba, Tencent, and Baidu. Even if we do see volatility in the U.S. markets, China opening its doors to crypto will offset some of that. Recommended Link [“Amazon Loophole” Allows You to Collect Up to $28,544 Starting June 13]( [image]( These folks got it made! Thanks to a little-known IRS loophole… They are collecting huge payouts from government-regulated “royalty programs”… every single year! [“Started from a zero balance… Just hit $1,200 a month in [royalties].” – Neil P.]( Like Neil P., who is now collecting $1,200 a month in “royalties.” [“Increased my [royalties] to over $30,000 last year.” – Tom K.]( Tom K. reports he’s making $30,000 a year! [“Increased my [royalties] from about $2,000 to $60,000…” – Elaine T.]( And Elaine T. boosted her payouts to $60,000 per year! If you want to participate, you’d better hurry. The next payout is scheduled for June 13th. [Learn how to collect your first payout before June 13th.]( *Verified review. Past performance does not guarantee future results. -- Use This Opportunity to Set Yourself Up for the Next Catalyst Friends, if you’re worried about the June 5 debt default deadline, I can’t blame you. It could do severe damage to the U.S. economy – the world’s largest. And we’ll likely see volatility across asset classes, including crypto. But on June 1, financial regulators will open the doors to the second-largest crypto market in the world… a market with almost $20 trillion in investable capital. This is hugely bullish for Bitcoin. That’s why if we do see a significant pullback in crypto because of a U.S. debt default, it will be a buying opportunity… not a reason to run away. The last time I saw an opportunistic buy like this was March 10… the very same day Silicon Valley Bank went under. At the time, it was the second-largest bank implosion in U.S. history. Here’s what I said back then. These opportunistic sell-offs that we’re seeing, which have nothing to do with the underlying fundamentals, are great buying opportunities… So what I would suggest is to continue dollar-cost averaging. I’ve said before that below $20,000, you can put opportunistic capital to work. Later that day, Bitcoin hit $20,000. Four days later, it was trading at around $26,000. I sent out another video update on March 15 to my subscribers. I told them, “$30,000 looks to be like a chip shot from here.” As I predicted in both videos, not only did Bitcoin bottom just below $20,000 on March 10 – less than four weeks after my March 15 video, it blasted past $30,000. There’s another reason why you want to take advantage of any buying opportunity that may emerge from the debt ceiling hubbub… There’s a new development brewing beneath the surface that’s even more impactful than China’s re-entry into crypto. This development is set to drive crypto user growth to 5 billion by 2030. Recommended Link [Market Wizard who made $95 million for his clients in 2008 – and predicted the 2022 collapse – reveals his strategy:]( [image]( The One-Ticker Retirement Plan How to make all the money you need – in any market – using a single stock. [Click here for the name of the ticker…]( -- Yet as this new development drives crypto firmly into the mainstream, the crypto market will begin a maturing process as we move out of the current bear market. The market will start to trade more like the stock market… It will become less volatile… And the days where you can get in on a foundational crypto project that will shape our future for pennies on the dollar… Well, they’ll be gone forever. On Wednesday, June 7, at 8 p.m. ET, I’ll fill you in on the details of this new crypto development… as well as a special subsector of cryptos that’s springing out of it. ([Reserve your spot with one click here]( These cryptos are set to lead crypto’s next bull run… handing those who get in now the possibility of securing the biggest gains of any cryptos. Plus, when you become a VIP attendee for the event, you can claim two bonus reports: - BIG T’s SECRET: How to Make an Extra $1.4 Million in the Next Crypto Bull Market. - This 33-Cent Pick Will Ride AI and “Crypto’s New Development” to Breathtaking Gains. I’ll also grant you access to a VIP “ask me anything” session. All you have to do is [click here]( to register. (Please note I can’t give personal financial advice.) [So join me on Wednesday, June 7, at 8 p.m. ET]( And let me show you why this might be the last time you can get crypto at these prices. Let the Game Come to You! [signature] Teeka Tiwari Editor, Palm Beach Daily --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: Inside Wall Street Feedback). MAILBAG In [last week’s mailbag edition]( Nomi discussed why physical gold is a good hedge in a crisis situation. But this reader has some concerns… and suggests another way to hold gold… While storing gold can offer protection against a failing fiat currency, it can be cumbersome to transform into a convenient medium of exchange. There are gold-backed debit cards available that are backed by real gold that you own. No one knows that you are actually spending fractional gold when you complete a transaction. It is good anywhere in the world that the major brand card is accepted. This sounds like an excellent way to protect your purchasing power outside the dollar. – Robert D. Then, a reader shares their opinion on the best source of alternative energy. NuScale or the development of fusion (in lieu of fission) nuclear energy. NuScale is closer in development, but fusion nuclear energy will be the best alternative for our future energy needs. – Robert B. Finally, reader Carole responds to the recent slew of comments she received after expressing her distrust of nuclear energy… It’s unsurprising that people disagree with my aversion to nuclear energy. But do you notice, in the responses you published, how patronizing those people are? They seem to think that anyone who doesn’t agree with them must be incapable of independent thought! Instead of focusing on their own arguments, they try to put mine down. They suggest that I am a supporter of fossil fuels, that I blindly believe oil company propaganda, that I rely on mainstream media for my information, and that I don’t know what I’m talking about because I’m not qualified in physics. All of which are utterly speculative assumptions! These people don’t know me. I won’t stoop to their level. Other than to suggest that people who feel the need to cast personal aspersions on someone who holds an opposing view to theirs, clearly don’t have sufficient confidence in the power of their own argument. They are going to have to do a lot better than that if they are going to change the opinions of nuclear opponents like myself. – Carole E. Do you agree with Robert B. that nuclear fusion (in lieu of fission) is the best alternative for our energy needs? And what do you think of Robert D.’s idea of gold-backed debit cards? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: Inside Wall Street Feedback). IN CASE YOU MISSED IT… [“One-Stock Millionaire” Trades ONE Stock for 3 Decades… Wins In Any Market]( Jeff Clark here… I’ve joined the ranks of the top 1% of wealthy Americans… by IGNORING 99% of the entire stock market. Among 6,000 different stocks on the market to choose from… Hides ONE incredibly special stock. 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