SAB 121 repeal, bigger deal than you think

SAB 121 was spearheaded by Elizabeth Warren a few years ago, as you may know she was generally against crypto and BTC.

it created a rule that banks had to report all BTC in their books as a liability if they were to hold it. Meaning they had to keep capital reserves in dollars to back it. This decentivised them to hold any at all, if they have to keep reserves to back it that means they don't have as much to lend, their primary business. This is why coinbase has been so dominant as a custodian for crypto, the banks have not gotten involved.

Imagine you open your bank app and you can buy BTC there as well as borrower fiat against it or lend it yourself and make interest.

Yes, this has been tried and failed miserably, but people trust their banks more than all the other failed attempts at this. Big banks will not be as stupid about it.

While i prefer cold storage, this repeal will allow easy access to the vast majority of people who do not currently own any BTC.

I think we will see banks like jp Morgan, chase, etc. start offering this in 2025 or 2026, and it will only increase the demand for Bitcoin against its limited supply.

Whatever you think about the executive order, I overall think this piece of it was very bullish