Saylor has said over and over that the fierceness of the so-called cyber hornets protecting the Bitcoin ethos is what drew him in.

If censorship resistance can be so easily compromised, why not 21 million?

I think it's a reasonable question to ask, and I have no doubt that the Bitcoin community is not going to roll over

and let something as integral as censorship resistance go to the wayside just for

the sake of some more institutional money and banks falling in.

Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by Crypto.com, nexo.io, and leveled.

And produced and distributed by CoinDesk.

What's going on, guys?

It is Tuesday, December 8th, and today we are talking about micro strategy back on it.

Again, raising another 400 million to buy Bitcoin, is this a de facto Bitcoin

ETF? First up, however, let's do the brief. First on the brief today, BBVA is launching

crypto trading. So BBVA is Spain's second largest bank. They're an extremely well-known global brand. Two people familiar

with the bank's plans say they intend to begin offering crypto trading and custody within the month.

Now, this is a bank that has $840 billion in assets, so this is not a small deal. Their

crypto offerings will be regulated out of Switzerland, but the initiative should be

available to Europeans across the continent. Importantly, when asked, it's not just about

digital assets or tokenized securities. This is about cryptocurrency specifically. Next up on the

roof today, Bitcoin makes an appearance on Wells Fargo's most recent investor memo.

The Wells Fargo Investment Institute released their most recent memo yesterday and includes

one full page on Bitcoin. It's a short page, so let's actually just read what they had to say.

...