#482 โ€” The Bitcoin Group #482 - Price Recovery? - $40B Giveaway - Coinbase Drama - Conviction

๐Ÿ“… 2026-02-13๐Ÿ“ 1,531 words

The Bitcoin Group, the American Original. For over the last ten years, the Sharper's Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists. I'm Thomas Hunt from the World Crypto Network, moving on to issue one, The Price of Bitcoin. Standard Chartered sees Bitcoin sliding to $50,000 a coin, either to $1,400 before recovery. The bank cuts its 2026 crypto price targets, warning of further near term capitulation as ETF outflows and macro headwinds way on digital assets. It doesn't look good for Bitcoin. Looking for the magic eight poll? Not finding it must be here on my desk somewhere. Anyway, we're here by ourselves today, predicting the price of Bitcoin like everyone else, and they all say that it's going down. It's been another down week for Bitcoin. As we saw the price which previously had recovered, suddenly began to fall again. But don't worry, we've located the Bitcoin Magic eight ball. Everything is back on track. Anyway, Standard Charter says that the price is down and will go down further. They expect the bank Bitcoin to fall. The bank lowered its end of 2026 targets to $100,000 for Bitcoin and $4,000 for Ethereum. Long-term forecasts through 2030 remain unchanged. The bank's still conservative on the asset class. Checking in with the Magic eight ball, the source of all truth in this and any other universe, will the price of Bitcoin be higher this time next week? It is certain. It is certain the ball has spoken. Moving on to issue two. A Bitcoin blunder for the ages. $40 billion accidentally given away. You won't believe it. But this exchange gave away $40 billion in Bitcoin. Hundreds of prize pouts were just a few bucks each. Part of a promotional campaign by a South Korean cryptocurrency exchange. The total reward around $425. Instead, they executed instead of $620,000 Korean won, they inputted $620,000 Bitcoin. More than $40 billion meant that a winner who won $2,000 actually retrieved more than $120 million with Bitcoin. Enough recipients sought to sell or withdraw their Bitcoin that the market sank 17% before BitThumb halted transactions after roughly 30 minutes. The loss is told around $685,000. This isn't the first time that a unit's translation has resulted in the horrible loss of Bitcoin, but it is quite hilarious to see a dollar 20 become $120 million as the conversion between the Korean won, $620,000 won becomes $620,000 Bitcoin. Let's see, BitThumb is the name of the exchange. Head news for BitThumb. Check out worldcryptonetwork.com. We've got the Bitcoin Magic Ape All predicting from last week. It's always correct at worldcryptonetwork.com. Moving on to issue three, Coinbase shares slip as CEO's Armstrong stock sales top $500 million in nine months. Ryan Armstrong has been cashing out heavily from the Coinbase exchange enough that it may be sinking the stock of Coinbase. He's liquidated more than 1.5 million Coinbase shares between April 2025 and January 2026. Coinbase traded as high as 226, 262 this year, with a 52-week range of around 142 to 444. I think that Armstrong began selling at 444 ish. Coinbase's CEO has lost $10 billion of net worth within the last seven months. Brian Armstrong has fallen off of the Bloomberg's billionaire's index, a list of the world's richest people, but don't worry, he used to have $17 billion. Now he only has $7. How will he survive? Still worth looking at as well as others like fun straps, Tom Lee, who went heavy into Ethereum and is sitting on credible losses as well as micro strategies, incredible losses as well that Michael Saylor has taken on. Coinbase is buying the dip in Bitcoin. Some experts expect more price downside ahead. Coinbase is said it is buying the dip in a crypto route. Meanwhile, as we said earlier, Standard Charter Bank, now forecast more downside in digital assets. Coinbase is also reporting a quarter-four miss with a $667 off by $1 million loss amid Bitcoin retreat. Coinbase reported a down quarter for the end of 2025, with its investment portfolio plunging alongside Bitcoin and other crypto assets. Moving on to issue four grab bag, South Korean police lose seized Bitcoin held in cold wallet since 2021. Yes, the South Korean police had 22 Bitcoin in their supposed cold storage worth $1 million, at least right now, and the police authorities have launched an internal probe to determine the circumstances of the incident and the potential, incredibly likely, internal involvement. Yes, the police found that 22 Bitcoin worth around $1.5 million have been moved out of a USB cold wallet. We always said this would happen, and now it's happening, who knows if it was an inside job, or perhaps even taken back by the criminals or alleged criminals themselves, interesting to see when the police own and control and hold a Bitcoin wallet. Sometimes they don't hold anything at all. Binance converts its $1 billion safety net into $15,000 Bitcoin. The crypto exchange finalized a 30-day plan to convert its stablecoin back to user perfection fund, Sefu, into $15,000 Bitcoin, reinforcing Bitcoin as its long-term reserve asset. This of course makes sense because if the Bitcoin market goes completely away, Binance goes completely as way as well. It's a major bet by the exchange on Bitcoin, but will it be enough? El Salvador's Bitcoin conviction now carries a $300 million price tag. They report on you when you're up, they report on you when you're down. The cryptocurrency slide has slashed the value of El Salvador's holdings as credit default slaps rise to a five-month high, raising concerns over the country's IMF program and debt outlook. Bitcoin pressure as El Salvador has $7,560 Bitcoin worth $503 million. That's down from around $800 million at Bitcoin's October 2025 peak, marking a drop of nearly $300 million in just four months. The strategy suddenly has a stock jump 33% on revenue and Bitcoin boost. Be in crypto asks, can the rally hold? Strategy went up 33% in just a few sessions. They're holding Bitcoin and they continue to buy Bitcoin. However, they are near the liquidation zone for their Bitcoin. However, a company like MicroStrategy doesn't have to liquidate, they can wait and wait and hope that their Bitcoin recovers, unlike someone like FTX who is liquidated as soon as they looked at his books. If people in the rest of the world knew what I knew, Michael Strategies, Michael Sailor has viral message about MSTR stock in Bitcoin to $10 million. He's not backing away, continuing to back Bitcoin even now as it's lost its value. Bitcoin would go to $10 million tomorrow if people knew what he knew about Bitcoin. Conviction over speculation. The long game for Bitcoin and crypto begins. Yes, you have to decide prices fell, but usage didn't. A more mature volatility regime as Bitcoin is now finally not volatile as everyone wanted, but the price is down, which no one wanted. People reorganized but didn't disappear. We got the famous on ramps into the ETFs and so forth giving us an incredible influx of capital and then an incredible flight of capital as they all ran away. However, the ramps are still there. No one is shutting down their Bitcoin ETFs and so forth just because the price is down temporarily. And finally, I just wanted to report this week. I'm really loving this new but not new Star Trek show called Prodigy. It's a computer animated was originally intended for kids, but they kind of changed it and now it's for adults now. There's only two seasons. It's already been canceled, but it's a great show and much better than this Star Trek Starfleet Academy that everyone keeps complaining about. People are asking in the chat about BIP 110. I read a little bit about it. It sounds like the people who are all upset about the alleged JPEGs or whatever that thing is are finally going to fork off, but they're being kind of disingenuous again saying that it's a soft fork when it really sounds like it's a hard fork. So I need to read more about that. In general, I think the general attitude of Bitcoin and any open source project is, go fork yourself. Anyone can do anything they want. I think it's going to be very difficult to replicate Bitcoin's network effect or to move it from Bitcoin chain A to Bitcoin chain 110 or whatever you're going to call your new chain, the Nazis have planned. So I think it's pretty dangerous. I don't think it matters. But it's exciting to read about and we're certainly going to cover it more next week. I had a couple of tweets pulled on it, but wanted to get more of a response from Ben and the rest of the crew. But check out Star Trek Prodigy. It's got a computer animated show with a hologram Janeway, just a quick update show this week. Keep you guys updated on Bitcoin and cryptocurrency. We're unable to get the panel together. We hope they'll be back next week and until next time.

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