Wall Street is issuing its own coin and playing by its own rules! The pie is just too big—capital wants a slice, too! How much longer can gold hold up? Let’s take a look!

Mr. Lao Du’s Diary, Day 3253

2026.11.11

1️⃣ Wall Street is issuing its own coin

First, what are stablecoins? Stablecoins are dollars on the blockchain: each coin is pegged to one dollar. They’re commonly used to move money in and out of crypto, trade, and make international transfers—without waiting three days for a bank. The stablecoin market is approaching $290 billion, with USDT and USDC together accounting for 85%.

Wall Street used to call crypto a scam. Now 21 banks are getting into stablecoins themselves. Goldman Sachs, Citi, Santander, and Deutsche Bank are leading the charge. They announced the formation of a consortium on September 1, and Bloomberg revealed on November 10 that they’ve already raised about $270 million—enough to keep the new company going for five years. They plan to issue a dollar stablecoin in the first half of 2027, followed by a euro stablecoin, in compliance with the U.S. GENIUS Act.

Here’s the interesting part: banks aren’t here to revolutionize anything—they’re here to grab a piece of the business. Tether makes more in a year than Goldman Sachs. Interest and fees from stablecoins are a gold mine, and banks can’t sit still. But they haven’t even found a CEO yet, haven’t decided which chain to use, and the coin is still nowhere in sight—it won’t launch until the first half of 2027.

This is good news for crypto. Banks issuing their own stablecoins is basically an admission that on-chain dollars are here to stay. Settlements will most likely happen on public blockchains, with Ethereum the biggest beneficiary. For us, moving money in and out may become easier and more compliant, but USDT and USDC won’t lose their standing anytime soon.

2️⃣ Gold climbs back above $4,000; Schiff and Moss clash

Gold took a hit on Tuesday. After the CPI came in hot, gold fell more than 2.5% in a day, with futures settling at $4,020—but it held above the key $4,000 level. Today it bounced back to around $4,057, so it seems to have found its footing.

Bitcoin fared worse than gold. On Tuesday it fell as low as $72,727, its lowest level since August 20. Today it’s still hovering around $73,600, with the 200-day moving average at $73,190 right below it. The 50-week moving average at $75,200 is already above it, and Strategy’s cost basis of $75,456 is also weighing on the price.

Schiff posted on Tuesday: Bitcoin has never had two down years in a row in its 18-year history. It fell 6.34% last year and is down another 16.5% this year. If it falls again in 2027, that would be three straight down years—a first. Moss fired back: This is the best buying opportunity ever, and Bitcoin will hit a new high in 2027.

This debate has implications for the entire market. It’s not really about the numbers—it’s about belief. For the first time this year, the gold camp and the Bitcoin camp have diverged so sharply: gold is still up this year, while Bitcoin is down 16.5%. Schiff has been calling Bitcoin dead for 15 years, and he’s been wrong 22 times—but this year, for once, he’s right. Moss is betting on something else: every time Bitcoin has broken a precedent, it’s gone on to reach a new high.

On the price front, $73,190—the 200-day moving average—is the line in the sand. Hold it, and that’s the bottom; break below it, and the next levels to watch are $70,000 and even $68,000. Today is Veterans Day in the US, bond markets are closed, and there are no data releases, so prices will probably chop between $72,700 and $75,200.

3️⃣ I moved my altar today

I finally got my altar set up today, in a new spot. With an altar, once you settle on its place, your heart settles too. I cleaned the incense burner, offerings, and ritual items one by one and arranged them all again. The whole room felt right all at once.

CPI, rate hikes, and arguments are raging outside, but inside, I’ve set the altar straight and life goes on as usual. Now that the altar’s in place, my mind has settled too.

Today is November 11, 2026. My outlook remains cautiously optimistic. $73,190 is the key level: hold it, and that’s the bottom; break below it, and we look toward $70,000. I’ll check back in a month and see how it played out.

The two coins I’m bullish on are still the same: buy them!

$BTC , if $73,190 holds, that’s the bottom; the louder the arguing gets, the more it looks like a bottom;

$ETH , banks issuing their own stablecoins means settlements will most likely run on Ethereum—and that’s real business.