Did Scott Bessent Just Call The Bottom Of The Bitcoin Bear Market? | Bitcoin Simply

**Dante Cook** (0:00)
Bitcoin just crashed below 60K. The line that all the Bitcoin bulls were saying was the bottom. And the bears are coming out and bringing receipts. Strategies STRC has de-pegged from 100 down to 75, starting what many are calling a death spiral. And law firms are coming out to investigate whether Strategy has committed securities fraud. Will this threaten this Bitcoin bear market even more? To add insult to injury, two of the world's largest money managers just said they no longer believe in Bitcoin. One even said that it's going to zero. And he's not the only one. But what everyone is missing is this. Scott Bessent just went on CNBC and gave us a signal as to where the market is going next and what it means for sound money assets. I'm going to break down what he said and what it means for Bitcoin moving forward. This is Dante Coco, Bitcoin Simply. Let's go.
Yo, before we jump in, when we look at the data and analytics behind the show, we see that many of you regularly watch this show that aren't subscribed. We drop fire seven days a week that helps you to separate the signal from the noise. Subscribe if you already haven't. All right, let's go. Gang, we're back below 60K. And when people ask me what it's been like to invest in Bitcoin for the past five years, it's hard not to look like Vince McMahon.
I've got people who I haven't heard from in years texting me and hunting me down like Sophie Cunningham.
And they've got good reason. Bitcoin's been getting smacked all year. The sentiment online with Bitcoin has never been lower. And I think the main catalyst behind Bitcoin's price slump this year has been this. Bitcoin has now been lumped in as a macro asset, a hedge against inflation, against geopolitical conflict, an asset that's tied to interest rates, an asset that's tied to oil prices and what happens in the macro economy, an asset that's tied to war. And all of these things have simultaneously been headwind since late last year. But Scott Bessent just dropped a nugget on Wednesday that should be a signal for a rally for risk on assets like Bitcoin.

**Scott Bessent** (1:59)
Yeah, look, I think we didn't have regime change, but we've changed the regime. And that's what took a long time in terms of getting to the negotiations.
The actual fighting, which our military destroyed their air force, destroyed their Navy, destroyed a large part of their missile stockpile, but more importantly, destroyed 80 or 85% of their missile producing capabilities.
So we've done that. But Joe, what took a long time was finding people to negotiate with. If you think about the Iranian power structure, it's three different groups. It's the elected officials on one side, the IRGC in the middle, and then the clerics on the other. And those were decapitated at the first level, some at the second level, and now we are down at the third level. And what President Trump has done with the combination of epic fury, economic fury and the blockade, for the first time ever, for the first time since 1979, the Iranians are willing to discuss their nuclear program. Never happened before.

**Dante Cook** (3:06)
Regime change. Negotiations. Iran coming to the table for the first time since 1979 This should open up an opportunity in markets to get some hope and some optimism that was overhanging Bitcoin largely as a macro asset. But that's not what you're gonna hear in the media. You're gonna continue to hear the negativity. It's funny that Bitcoin is the only asset with no CEO, no employees, no marketing manager, no media company and no actual person that is running or managing Bitcoin, yet is the most discussed asset in the world. And when it's negative, the negativity spreads to everywhere. It spreads to podcasters, influencers, media writers and mainstream media news. Dave Portnoy, huge following online, just posted a tweet that got 3.9 million views, saying that I need all of the people saying that Bitcoin is the future and it's going to a million to tell me why all of the people who said it's a Ponzi scheme are wrong. It seems like it's going to zero. Really? The asset that was started with no fanfare 16 years ago and released onto the internet that everyone thought was real and not fake and a scam is now a $1.4 trillion asset with no one managing it on any side. And yet now it's going to zero. He's not the only one saying that it's going to zero. What about Jeremy Grantham, one of the world's largest asset managers? He manages about $80 billion worth of assets. And he's someone who hasn't outperformed the index in over 30 years, giving people mediocre returns. But yet somehow he's a world expert on crypto and Bitcoin. He also says that it's going to zero. When you're talking about investment strategies, how much crypto do you own?