0:00

In today's show, I'll be breaking down the latest

0:02

Bitcoin technical analysis. Also

0:04

this just in, the first Bitcoin ETF

0:06

trades at one and a half billion dollars as

0:09

the GBTC discount echoes 69,000

0:12

Bitcoin price action. And quoting

0:14

the high priest of Bitcoin, Max Keiser,

0:17

Bitcoin is compounding at 147% while gold is compounding at 2.3%.

0:19

Can you see the difference? We

0:25

sure can. Also in today's show, billion

0:28

dollar bank pays a 29 and a half

0:30

million dollar fine over massive fraud,

0:33

allowing criminals to access 300

0:36

million dollars. That's right. Also

0:38

in today's show, Bitcoin friendly El Salvador

0:40

can become the Singapore of the Americas,

0:43

according to asset manager VanEck.

0:45

Not only that, but breaking news just in,

0:47

VanEck, who is worth 76 billion

0:50

with assets under management, joins the amendment

0:53

filings for a spot Bitcoin ETF.

0:55

Let's freaking go. Also in today's show, 15

0:58

trillion dollar floodgates will open

1:01

for Bitcoin upon the approval of a Bitcoin

1:03

ETF, according to Glassnode

1:06

Analytics. We'll also be discussing what

1:08

Galaxy Digital thinks if this first

1:10

spot Bitcoin ETF were to be approved.

1:13

How would this drastically impact

1:15

the market? We're also going to be sharing everything relating

1:18

to the BlackRock spot Bitcoin ETF,

1:20

along with the date their application

1:22

is likely to get approved, according

1:25

to the former director of BlackRock.

1:27

We'll also be taking a look at the overall crypto market.

1:29

All this, plus so

1:32

much more in today's show.

1:40

Yo, what's good, crypto fam? This is first

1:43

and foremost, a video show. So if you

1:45

want the full premium experience with video,

1:47

visit my YouTube channel at CryptoNewsAlerts.net.

1:51

Again, that's CryptoNewsAlerts.net.

1:54

Welcome, everyone. This is podcast episode

1:56

number 1445. I'm your host, JV.

1:59

is October 29th, 2023

2:03

and the markets are pumping, which

2:05

we always appreciate here at Crypto News

2:07

Alerts. Checking out the Coin 360

2:10

here, we can see Bitcoin up one and a half percent for the day,

2:13

trading above $34,800. Hopefully

2:15

we're going to retest $35,000 resistance

2:18

and flip it into support. You can see ETH, BNB,

2:21

XRP, all the major cryptos pumping.

2:23

And in the green, that's the one day. Let's look

2:25

at the seven days. Bitcoin's up a whopping 16%

2:28

in the past week. Not

2:30

too shabby. Let's look at the one month. Whoa,

2:33

Bitcoin's up 28%. You

2:36

gotta love it. Respect the pump. And

2:38

checking out CoinMarketCap.com, the current crypto

2:40

market cap sits at $1.27 trillion with

2:44

a roughly 25 bill in volume. In

2:46

the past 24 hours, Bitcoin dominance on the rise

2:49

at 53.1%, the undisputed king of the

2:52

world. We have Ether trading, or

2:55

I should say the dominance at 17%. And

2:57

checking out the top 100 crypto gainers of the past 24 hours,

3:00

Gala leading the pack up almost 19%, trading

3:03

at two cents, followed by Axie Infinity up 16%,

3:05

trading at $5.73, followed

3:08

by ICP up almost 13%, trading at $4.09. Now

3:13

here's where things get a little interesting. Let's check

3:15

out the top gainers for the past seven days. This

3:17

is just within the top 100. You can see

3:19

a 55% gain for Mina. You

3:21

have a 54% gain for Pepe, 54% gain for Gala, 49%.

3:27

You know, could you say bull? I mean, that's pretty

3:29

massive. You have 20 to 50% pumped

3:31

just for the week. Not too shabby.

3:34

Is the bull back? Let me know your thoughts, Sam. And

3:36

on the daily, you can see again, massive

3:38

gains for the entire market. If we look at the

3:40

weekly, holy moly,

3:43

again, massive gains. It's averaged

3:45

from 20 to 40, even as high as 50% for some cryptos. And

3:49

let's actually also check out the yearly.

3:52

Whoa, that's where things get very exciting.

3:55

You got some cryptos up over 2000%. And

3:57

if we check out the market cap plus the weekly.

4:00

You see the king crypto floating and hovering around

4:02

at fifteen point seven percent Not

4:05

too shabby and checking out one of my favorite

4:07

indicators, which is the crypto green end fear index

4:09

We're currently rated at 72 in greed,

4:11

which I believe is as bad as I

4:14

I seen this in a long time Yesterday at 65 last

4:16

week at 53 and last month a 48 which is Neutral

4:21

so there you have it crypto fam Let me

4:23

know if you're enjoying this current price pump

4:25

and how hard do you think the Bitcoin price will

4:27

likely climb and end this month? Of

4:30

October considering there's only two days left.

4:32

Also, it's gonna be bitcoins birthday in

4:35

two days, which is also Exciting

4:37

time shout out to CJ Roush digital

4:39

dankness Jeff s let's freaking

4:41

go mid bolt to the having the explosion

4:43

to the moon 100% crypto

4:46

Lucian what it do. Shout out to stream labs

4:48

and all of our moderators. We're hitting 48,000 soon I

4:51

hope you're right fam. We only go up in

4:53

greed says Scott unless ETF

4:55

first then we pump without the million dollar

4:58

question And that's actually the focus of

5:00

today's show We're gonna be sharing all scenarios related

5:02

to the Bitcoin ETF approval, which we

5:04

know once the SEC gives the green

5:06

light game on moon Mission,

5:09

let's go All right Now let's dive

5:11

into today's Bitcoin technical analysis check

5:13

out the charts with a Bitcoin price action is Likely

5:16

to go next now check this out the

5:19

first Bitcoin ETF trades at one and a half billion

5:21

as the GBTC discount echoes a 69,000

5:25

Bitcoin price action including Max Kaiser

5:27

from yesterday's episode He believes the current

5:29

hash rate signifies a Bitcoin price

5:32

in the three hundred thousand Let's

5:35

freaking go. So here we are. B ito

5:37

GBTC is trading at two and a half billion That's

5:39

right Hence that the US might soon allow

5:41

the Bitcoin spot-based ETF have

5:44

not only Impacted the price action the

5:46

surrounding ecosystem has benefited in

5:48

kind in addition to the exchanges the

5:50

mining firms the embattled institutional Investment

5:53

options are also seeing a reassertance and

5:55

the demand bring it and as noted by Bloomberg

5:58

senior ETF analyst Rick Valtunes,

6:01

at least two household names, saw notable

6:03

volume in the trading week through October

6:05

27th, and amongst them was ProShares

6:07

Bitcoin ETF strategy with the kicker,

6:10

BITO, which was the first futures-based

6:13

ETF to get the green light in the US back in 2021.

6:16

Quoting them here, BITO traded $1.7 billion

6:20

last week, the second biggest since its

6:22

wild week one. Not too shabby.

6:25

I think this is a sign of the times that the market

6:27

is demanding and wanting this product

6:30

which is a Bitcoin spot ETF completely

6:32

different from futures because spot markets

6:35

have true price discovery. There's no derivatives

6:37

or manipulation. He noted that the stalwart

6:39

grayscale Bitcoin trees, better known as GBTC

6:41

product, fetched $800 million

6:44

in volume, helping reduce its discount

6:46

to the Bitcoin spot price to two-year lows.

6:49

As he shares here, that's $2.5 billion, top 1%,

6:52

amongst ETFs into the two

6:54

less desirable methods versus the spot

6:57

for exposure equals, while we think

6:59

spot ETFs are unlikely to set records

7:01

on day one, clearly there's an audience.

7:04

I'm going to make a bold prediction right now. The day

7:06

we get the green light for a spot Bitcoin ETF,

7:08

regardless if it's VanEck, BlackRock,

7:10

ARK21, Fidelity, we're going to

7:12

see record inflows. I guarantee that.

7:14

Now others also picked up on the data, including

7:17

on-chain analyst William Clemente, co-founder

7:19

of Firm Reflexivity, describing

7:21

ETF trading as back in full stream.

7:24

That's right, or full steam ahead. As reported,

7:26

GBTC has seen a remarkable comeback

7:28

in the recent months, even prior to Bitcoin gaining 15%

7:31

last week. Legal

7:33

victories, that's what's up. Big,

7:35

big triumph in victories, I would say, on

7:38

the long road to gaining permission to convert

7:40

the GBTC product into a spot ETF,

7:42

provided kindling, and the grayscale products

7:44

now trade within an implied share price,

7:47

which is just 13% below the Bitcoin spot. Now

7:50

as per data from CoinGlass, this is the

7:52

lowest level since November of 2021, which is

7:55

the same month and year we hit the 69G

7:58

all-time high, while Bitcoin itself is still was

8:00

at those all-time highs. Quoting him here, the

8:02

GBTC discount keeps narrowing.

8:04

Maybe trade fi knows something we

8:06

don't know yet. What are your thoughts, Sam? Let me know in

8:08

the chat. And despite this, investment

8:11

management firm, ERC Invest, had reduced its

8:13

GBTC holdings instead with

8:15

the share price gains, while ERC itself can

8:17

say Bitcoin spot ETF launch with the deadline

8:19

being January 10th of

8:22

coming up in a few months. That's the deadline

8:24

for the SEC to approve it or not. GBTC

8:26

now accounts for 10% of its next-generation

8:29

internet ETF, its first change

8:31

since November of 2022. And

8:33

quoting the high priest of Bitcoin, Max Kaiser, well,

8:36

first and foremost, shout out to Michael Saylor, one

8:38

of my favorite quotes of all time, there is no

8:40

second best. And it clearly shows you the

8:42

returns in which Max points out. Please look

8:44

at this actually relevant data set.

8:47

Bitcoin is compounding at 147%. Again, year over year. Now gold

8:49

is only compounding at 2.3%. And I heard yesterday

8:55

that the gold ounce

8:58

surpassed 2000. Can someone clarify

9:00

if that's accurate? Can you see the difference? We

9:02

sure do. When it comes to Bitcoin, there is no

9:04

other asset that can compare. And especially

9:07

with the price gains, as history has shown

9:09

us, Bitcoin going from zero 15 years ago to 69,000

9:13

all-time high. That's an increase

9:15

of 69 million percent.

9:18

But now let's dive into our next story of

9:20

the day and discuss this massive fraud

9:22

with the legacy financial system

9:24

and fiat Ponzi scheme

9:27

money. Shall we? I mean, these

9:30

bankers never learned their lesson. The

9:32

Federal Reserve and New York Department of Financial Services

9:34

are hitting a US bank with multi million

9:36

dollar fine for violating the Bank Secrecy

9:39

Act. Come on, guys. The agency

9:41

says Metropolitan Commercial Bank will

9:43

pay a total of 29 and a half million

9:46

in penalties for allowing criminals to

9:49

open the new accounts and misdirect a staggering $300

9:51

million. That's right. Fiat currency

9:54

is used for illicit activities. So Senator

9:56

Warren and Lummis, why don't you go after

9:59

the fiat money system? and the Federal Reserve

10:01

take that. According to the DFS, the bank

10:03

issued its MOVO cash, digital prepaid

10:06

Visa card, programmed back to bad actors

10:08

in 2020, but did not use it as an

10:10

adequate verification process. To

10:13

uncover the true identity of the applicants,

10:15

sounds like money laundering to me. What do you

10:17

guys think? The thieves gave fraudulent identification

10:20

using their accounts to misdirect millions in

10:23

direct deposit payroll payments and government

10:25

benefits. MCB failed to prevent

10:27

a massive ongoing fraud in the MOVO cash prepaid

10:30

card program, allowing the bad actors to abuse

10:32

the financial system, while all

10:34

the bad actors consistently abused

10:36

the financial legacy system. Quoting

10:40

them again, MCB observed a surge in

10:42

fraudulent MOVO cash account openings

10:44

and after failing to remedy the problem, allowed

10:46

new MOVO cash accounts to be open. This

10:49

inaction followed or allowed the fraud

10:51

to increase exponentially over the next few months

10:53

and facilitated more than $300 million

10:57

in pandemic unemployment benefits to

10:59

be misdirected. Unbelievable.

11:01

The Fed says it's now forcing MCB

11:03

to improve its customer identification customer

11:06

due to due diligence in third party risk management

11:08

programs. Now, MCB has $6 billion

11:11

in total assets with seven branches across

11:13

New York. I mean, this is a sign of the times we

11:15

know the corruption of the legacy financial system.

11:18

That's why we got to move away from fiat currency

11:20

and say no to the CBDCs. You

11:23

know what a better solution is? It's called

11:25

Bitcoin, fam. There is no second best.

11:27

It's the antidote to the central bank digital

11:29

currencies, which will be coming soon to a

11:32

theater near you. And with that being shared, fam,

11:34

now let's break down the latest news of what's happening in

11:36

El Salvador. Shall we? Shout

11:38

out to Nigel Boccelli, Max and Stacy,

11:41

and the entire crew out there. This

11:43

is pretty big news. El Salvador can follow

11:45

Singapore's lead becoming a financial center

11:48

in the Americas. Let's freaking go. I'm going

11:50

to get to Gabrielle Gurbax, the strategy advisor of

11:52

investment management firm Van Eck,

11:54

quoting him here. I say often the portfolio

11:56

managers and asset allocators that El

11:59

Salvador has been... potential to become the Singapore

12:01

of the Americas. Now similar to what Singapore

12:04

achieved in the late 1990s, Goebbax

12:06

expects the new capital investment and immigration

12:09

to be the main drivers behind El Salvador's

12:11

increased economic growth over the next few

12:13

years. His comments come in response to an

12:15

October 28 post by US broadcaster,

12:18

the one and only Max Keiser, shout out

12:20

to Max, which was captioned, move to El Salvador,

12:23

the new land of the free. Now Max

12:25

Keiser clearly lives in El Salvador with

12:27

Stacy and listed Bitcoin

12:29

and the US dollar's legal tender status. Now

12:32

a cleanup of El Salvador in crime as well,

12:34

which we have witnessed a complete 180 in their

12:36

country. Great beaches and great coffee

12:39

as some of the main reasons the Central American country

12:41

should be on everyone's radar. Also,

12:43

let's not forget the tax advantages. No

12:46

capital gains tax in Bitcoin

12:48

city, another logical reason to relocate.

12:51

And here's what Max points out here and move to El Salvador,

12:54

the new land of the free. No fentanyl

12:56

crisis. Again, this is dangerous.

12:58

This fentanyl one child takes the wrong thing.

13:01

They think it's a tic-tac dead. You know what

13:03

I mean? They don't have this issue in El Salvador.

13:05

No shootings, no lootings, the lowest

13:07

crime in the Americas. USD and Bitcoin

13:09

are legal tender. They have great coffee, great weather,

13:12

great beaches, beautiful women. Have

13:14

to add that one in there for my fellows out there. Three

13:16

pupusas for a dollar. Beat

13:19

that. And Max and Stacy live there. That's

13:21

all the reason you need to know. Also their GDP

13:23

is booming. El Salvador's status

13:26

as an emerging economy became more prominent

13:28

when Bukele was elected as the country's president

13:31

in June of 2019 and re-election is

13:33

in 2024. I have all the

13:35

support in the world for Bukele. Now El Salvador's

13:37

sovereign bonds have outperformed many other emerging

13:39

markets this year, yielding an eye-popping 70%

13:42

return. Massive shout out

13:44

to $0.00 G-RO. I greatly

13:46

appreciate the Super Chat contribution.

13:48

So let's give him his shout out. Shout out

13:50

to the mods, our fearless leader JV

13:53

in all of the crypto news alerts fam.

13:56

Let's freaking go. And our mods include

13:58

Dankness, Max, Max, and and other. So

14:01

thank you for the Super Chat contribution. You're way

14:03

too kind, fam. Back to our

14:05

story. Here's an ex-post from Nijib Okele,

14:08

the president of El Salvador. The

14:10

fiat guys at JP Morgan say El Salvador is finally getting

14:12

some credit. They're just now

14:14

catching up. It'll soon be Salvadoran

14:16

bonds are now investment grade. You'll

14:19

see. That's what's up. We already told

14:21

you so, fam. Bukele

14:24

and the El Salvador government made Bitcoin illegal tender

14:26

in September of 2021 and rolled

14:29

out the Bitcoin custodial wallet, Shivo, for

14:31

the Salvadorans in the same week. El

14:33

Salvador is also tapping into the volcanic

14:36

resources to power its Bitcoin

14:38

mining operation startup, Volcano Energy. Shout

14:41

out to Max for that, which launched in June

14:43

after a billion dollar investment. Kaiser

14:45

serves as the company's executive chairman. Its

14:48

first Bitcoin mining pool was recently

14:50

launched following the partnership with Bitcoin

14:52

miners Luxer Technology. Just this

14:54

month in October, El Salvador appointed

14:56

Saifedian Amis, the author of the Bitcoin Standard,

14:59

which is literally the Bible for Bitcoin. If

15:01

you haven't read that book, I strongly encourage you to

15:03

do so, especially if you want an orange pils

15:05

on. The company plans to accumulate Bitcoin

15:08

as a strategy to clean out its debt within

15:10

the next five years. Stackin' M-Sats. Bukele

15:12

also made a bold move to eliminate all taxes

15:15

on technology innovation in April, hence

15:17

why so many companies are moving out there, which

15:19

could entice more entrepreneurs and

15:21

foreign capital to move into the country.

15:24

You're damn right. But

15:26

let's continue with our next story of the day. Discuss

15:28

the latest with this brand new ETF filing

15:31

from VanEck, a major asset

15:33

manager. And this is breaking news I shared yesterday

15:36

on X. You can see it got 1,200 views, 28 hearts, and a bunch

15:38

of retweets. In

15:40

fact, let's retweet it right now. And if you're

15:43

not following me on X, you know what to do. My

15:45

handle is ScriptoNewsYes because ScriptoNewsLerce

15:48

was already taken. If you don't know, now you know. As

15:51

I shared here, VanEck, the $76 billion

15:53

in assets under management, joins the amendment

15:55

filings for the spot Bitcoin ETF issuers. And

15:57

here's the post coming directly from the SEC. government

16:01

website. Let's break this one down, shall

16:03

we? Here we go. The quest for the Spot

16:05

ETF. A Spot Bitcoin ETF is a desirable

16:07

product because it provides investors a way to

16:09

gain exposure to Bitcoin without the complexities

16:12

of directly purchasing the crypto

16:14

asset, storing and managing Bitcoin, thus

16:16

making it more accessible to the broader range

16:19

of investors, both in retail and institutional.

16:22

And in addition to this accessibility, the Spot Bitcoin

16:24

ETFs are regulated financial products,

16:26

meaning they can offer a higher level

16:29

of security. And in June, the investment

16:31

firm came up with a new app to the securities

16:33

Watchdog for Spot Bitcoin ETF.

16:35

This filing came just months after the agency

16:37

shot down the prior request. This

16:40

move followed the regulator's recent denial

16:42

of similar apps from Grayscale Investments,

16:44

as well as Bitwise. And following its

16:47

application rejection, Grayscale Investments

16:49

initiated and won the legal action against

16:52

the SEC. Hallelujah for that, as

16:54

Mr. Chairman, no clarity, Gary

16:56

of the SEC takes another big fat L.

16:58

I love that. BlackRock, the world's largest

17:01

asset manager, they control between 10 and 11

17:04

trillion in assets under management, have also

17:06

refined its own bid for such a product, which

17:08

will be breaking down in great detail later in the

17:10

show. This move is seemingly a tactical

17:12

response to the feedback and observations,

17:15

mirroring strategies undertaken by financial

17:17

titans like ARK and Fidelity.

17:20

Now, Fidelity controls four and a half

17:22

trillion just FYI. And

17:24

I mean, that's a lot of money. Is it inevitable?

17:26

I sure think so. The SEC had consistently

17:29

voiced worries about potential market manipulation

17:32

related to the fledgling

17:34

cryptocurrency. However, in recent

17:36

interviews, the former SEC chairman, Jay Clayton,

17:39

the one who was in power before Gary took his spot,

17:41

he stated that a Bitcoin ETF approval is

17:44

inevitable. Now I would agree with that 1000%. What

17:46

are your thoughts? Also,

17:48

we have SEC Commissioner Hester Pierce,

17:51

who I wish would overtake Gary's position

17:53

as the chairman. We know her as crypto mom

17:55

who also expressed her support. Now, Galaxy

17:57

Digital predicts that much coveted. products

18:00

could attract more than $14 billion, which

18:02

I'll be breaking down in later detail as well, into

18:04

the show with this figure potentially rising

18:06

to $39 billion by the third

18:09

year. And personally, I think that is

18:11

extremely conservative. But what are your thoughts?

18:13

And which major asset manager do you feel will

18:16

likely get to spot Bitcoin ETF approval

18:18

green light from the SEC first? Let me know.

18:21

So let's now dive into our next story of the day

18:23

and discuss this whopping $15

18:26

trillion, which

18:28

could be ushered into the Bitcoin market

18:30

practically overnight upon the approval

18:32

of a spot Bitcoin ETF.

18:35

Here we go. The co-founders of crypto

18:37

analytics firm Glassnode, one of my

18:39

favorite analytics company, think that a

18:42

deluge of capital will flow into Bitcoin

18:44

once the regulators green light to spot Bitcoin

18:47

ETF, better known as an exchange traded

18:50

fund. Glassnode co-founders who shared

18:52

the handle on X say institutional

18:54

capital in the tune of trillions

18:57

of dollars is waiting on the sidelines for

18:59

a spot market Bitcoin ETF. That's

19:01

quoting them here. The introduction of Bitcoin

19:04

spot ETF is reshaping

19:06

the financial landscape and unprecedented

19:09

ways. Demand is on the rise with

19:11

over 15 trillion in assets from companies seeking

19:13

Bitcoin spot ETF approval, the

19:15

looming institutional FOMO. Once

19:18

Bitcoin ETF spots get the green light can potentially

19:20

ignite the bull run propelling us

19:22

to new heights in the crypto market. Six

19:25

figure Bitcoin, let's freaking go. Now

19:27

last week, Bloomberg analyst Bill Chunes

19:29

said financial behemoths BlackRock is already

19:32

funding as Bitcoin ETF. The I shares

19:34

Bitcoin trust, which we leaked here on the show

19:36

and looking at the price action of Bitcoin. The Glassnode

19:39

co-founders say Bitcoin is starting to cool

19:41

off after rising to about 35,000, quoting

19:44

them here is safe to say that the bulls

19:46

won this week, at least for now. And

19:49

that's finally stabilized and lost some steam after several days

19:52

of rising with a price decrease to

19:54

roughly 34,000. Future

19:56

ETF approvals can lead to further gains.

19:59

However, they will be. short-term sell the news

20:01

events due to market dynamics.

20:03

So there you have it. Now let's discuss Galaxy

20:06

Digital and what they see happening

20:08

in the market if the spot Bitcoin ETF

20:11

were to be approved. Here we go. Galaxy

20:13

Digital, the crypto venture led by US billionaire

20:16

Mike Novogratz, projected a substantial

20:18

capital influx into the spot ETFs. And

20:20

according to the estimizations, these ETFs can witness

20:23

an impressive $14.5 billion

20:25

in inflows, which I think is outrageously

20:27

conservative. What do you think, fam? During their

20:30

inaugural year, potentially reshaping the investment

20:32

landscape, the venture contends that the

20:34

allure of the spot Bitcoin ETF surpasses

20:37

existing investment avenues, such

20:39

as trust and futures, which currently hold

20:41

assets valued at over $21 billion.

20:43

It also noted that ETF inflows can ramp

20:45

up by $27 billion by the second

20:47

year and $39 billion by the third

20:50

year. Let's change this billion dollar

20:52

figure with a trillion, why

20:54

not? The potential ramifications

20:57

of this projection are profound. Not

20:59

only does this forecast hint at a surge

21:01

of investor interest, but also signals

21:04

the paradigm shift in the approach towards crypto

21:06

investments. As of October 2023, Galaxy

21:09

Digital points and posits

21:12

that the wealth management sector in the US

21:14

could witness a monumental transformation

21:16

with assets managed by broker dealers, banks

21:18

and registered investment advisors collectively

21:21

amounting to a staggering $48 trillion.

21:24

Now we're talking my language. Galaxy

21:26

says that the spot Bitcoin ETF stand as a pivotal

21:29

development, promising secure regulated

21:31

means for investors to gain exposure to Bitcoin.

21:34

These products would be facilitated through established

21:36

partners, primarily traditional funds and

21:39

banks with a demonstrated track record and customer

21:41

protection and sound investment

21:43

offers, just like VanEck,

21:46

BlackRock, Fidelity, Arc21, et

21:49

cetera. Meanwhile, recent market dynamics

21:51

have demonstrated the demand for Bitcoin based financial

21:53

products. You can say that again. A near rumor

21:56

the previous week led to the unprecedented 10% surge

21:58

of the Bitcoin. price actions.

22:01

Another massive shout out to $0.00 GROW

22:04

for the Super Chat contribution. Much

22:06

love and much respect to the fam. I

22:08

greatly appreciate it, guys. Now,

22:11

Galaxy Digital's projection of $14.4

22:14

billion influx in the first year can contribute

22:16

significantly to a remarkable 74% surge

22:19

in the Bitcoin price action. This anticipated

22:22

increase is predicated on the assumption

22:24

the liquidity and price impact of billions of dollars

22:27

in investments will transform Bitcoin's

22:29

value, which natural

22:31

flow of supply and demand, stock the

22:34

flow, the perceived limitations of existing

22:36

investment products further underscore the urgency

22:38

of these spot Bitcoin ETFs. In fact, you

22:40

recently had Congress point

22:43

at Gary Gensler. He was testifying

22:45

under oath and they said, Gary, we

22:48

want spot Bitcoin ETFs and

22:50

ETPs approved immediately

22:53

with that keyword fan being immediately.

22:56

So yeah, Gary, all eyes on him

22:58

right now. In addition to mitigating these existing

23:00

challenges, the spot ETFs promise greater

23:03

operational efficiency, according to Galaxy.

23:06

That includes advantages in fee structures, liquidity

23:08

and price tracking, while specific

23:11

fee details have yet to be disclosed by the Bitcoin

23:13

ETF apps. Historical data indicates that

23:15

such products generally offer fees lower

23:17

than hedge or close phones.

23:19

So there you have it, my crypto fan.

23:22

What are your thoughts surrounding all of this? Let me know.

23:24

Now let's break down our future story of the day, discuss

23:26

BlackRock and when that Bitcoin ETF is likely

23:29

to be approved according to the former

23:31

director of BlackRock himself.

23:33

Let's break this baby down, shall we?

23:36

Here we go. First and foremost, I want to

23:38

quote Crypto Rover on a few posts that

23:40

have a lot of good insights as shared

23:42

here. The former director of BlackRock,

23:45

again, the world's largest asset manager,

23:47

said that the SEC will approve the spot

23:49

Bitcoin ETFs within two to three

23:52

months. You do the math. That means 60

23:54

to 90 days, fam. He also said there could be

23:56

capital inflows of up to $200 billion.

23:59

Again, And personally, I feel

24:01

that is extremely conservative. But

24:03

hey, that would make a drastic impact, obviously,

24:06

to the Bitcoin market as well as the

24:08

market cap. And he also shared here, within 75

24:11

days, the first Bitcoin spot ETF will

24:13

be launched. Here's why. In

24:16

exactly 75 days, the final

24:18

deadline for ARK Invest Bitcoin spot ETF

24:20

will arrive, that date being January

24:22

10th. The reality is the SEC

24:25

cannot reject ARK's ETF

24:27

and then approve the BlackRock spot ETF.

24:29

He makes a good point. And considering the Grayscale

24:32

has already won the lawsuit against the SEC,

24:34

it is likely that all the spot

24:36

ETFs will be approved before ARK

24:39

Invest. Maybe a domino effect? Game

24:41

theory? Let's freaking go. Therefore,

24:43

we can anticipate the introduction of the first Bitcoin

24:45

spot ETF within the next 99 days.

24:48

I personally feel it will happen sometime prior

24:51

to the Bitcoin halving scheduled to take place in

24:53

six months, sometime in April of 2024. But

24:56

let me know your thoughts, chat. Now here's where he

24:58

shares. BlackRock will send Bitcoin to $250,000 per

25:00

coin. Here's

25:03

why. The former manager at BlackRock predicts

25:05

that the Bitcoin spot ETF will attract $300

25:07

billion within the first 12 months,

25:10

which is substantial, considering wanting

25:12

to purchase $300 billion worth of Bitcoin, which is

25:14

equivalent to, whoa, $10 million

25:18

BTC. Let that sink in, especially

25:20

considering there is a supply shock

25:23

in the market. There is now currently roughly 1.6

25:26

million Bitcoin on the exchanges, and

25:29

over 80% or roughly that figure

25:31

of the Bitcoin supply is in the hands of

25:33

the long-term haulers, and it has not moved in

25:35

the past six months. So where are they

25:37

going to find all of this Bitcoin? They're not going to be able

25:40

to find it. It's going to cause a massive

25:42

surge in the market. Bitcoin

25:44

supply shock 2024, send it, and let's freaking go.

25:47

Back to this. Can this volume of Bitcoin be

25:49

purchased at the current market price? Certainly

25:51

not. The global supply of the Bitcoin is limited,

25:54

meaning acquiring such an amount will drastically

25:56

drive up the price due to the high demand

25:58

against the limited supply. Why? This

26:01

dynamic can easily, easily

26:04

propel Bitcoin's value between $150,000 and $250,000 per coin. Now

26:10

you understand why Gary Gensler doesn't want that ETF.

26:13

They don't want Bitcoin to outshine

26:15

their crappy fiat currency called the

26:17

US dollar. Now as shared here, BlackRock,

26:20

if you didn't know, owns 8.1% of MicroStrategy. Therefore,

26:24

BlackRock is indirectly investing into

26:26

Bitcoin 100%. They actually own 8.1%

26:29

of MicroStrategy, which is equivalent

26:31

to 12,833 BTC. I

26:35

also like to point out, if you didn't know, BlackRock

26:38

is also the primary shareholder of Standard

26:40

Chartered Bank. I heard a statistic that

26:42

they own, they have a piece

26:44

of the pie of over 80% of the companies in

26:47

the S&P 500. That's how powerful

26:49

BlackRock is. They're

26:52

larger than the GDP of most nations

26:54

of the world, maybe minus the United

26:56

States, China, and India. This is obviously

26:59

a pretty freaking big deal. Now,

27:02

yeah, shout out to Michael Saylor. Again, Fink

27:04

owns a piece of literally every major company

27:06

in the S&P 500. That's how large

27:09

their power is. Now let's quote

27:12

Michael Saylor. I shared this video yesterday. In

27:14

the JV React session, I'll actually

27:16

play the audio in a little bit. But

27:18

yeah, it went viral. We got 898 hearts, 236 retweets, which is a lot

27:21

for my account. Now

27:25

here's what Michael Saylor shared. I want you to pay

27:27

very, very close attention.

27:29

If you're getting value out of today's stream, let me

27:31

know in that live chat. Smash the likes, smash the sub. I appreciate

27:34

it. Here's what Michael Saylor had to share. If we

27:36

look at Bitcoin and model it as digital

27:38

gold, you know the market cap goes to between

27:41

$10 and $20 trillion. But remember, gold

27:43

is the effective property. Gold

27:46

is dead money. Let that sink in, Peter Schiff.

27:49

Gold is dead money. Now you have a billion dollars

27:51

of gold, and that sits in a vault for

27:53

a decade. It is very hard to mortgage

27:55

the gold. It's also very hard to

27:58

rent the gold. You can't loan the gold. No

28:00

one's going to create a business with your gold. So

28:02

gold doesn't generate much of a yield. So

28:04

for that reason, most people wouldn't store a billion

28:06

dollars for a decade in gold. Preach,

28:09

they would buy a billion dollars to commercial real estate

28:11

property. And that's the reason why because

28:13

I can rent it and generate a yield on it. That's

28:16

in excess to the maintenance cost. So if

28:18

you consider digital property, that's a 100

28:21

to 200 trillion dollar addressable

28:23

market. So I think it goes from 10 trillion

28:26

to 100 trillion dollars as people

28:28

start to think of it as digital property.

28:31

What does that mean in terms of price

28:33

per Bitcoin here? Pay attention at $500,000. That's

28:37

a 10 trillion dollar asset and at $5

28:39

million per Bitcoin, that's a 100

28:42

trillion dollar asset. And then Lex Friedman

28:45

asked him, so you think it crosses a million. Can it

28:47

go even higher in which Michael Saylor responded?

28:50

Yeah, I think it keeps going up forever.

28:52

I mean, there is no reason we couldn't go to $10 million

28:55

per Bitcoin because digital property isn't

28:57

the highest form. Right. Preach.

29:00

Gold is that low frequency money. Property

29:02

is mid frequency money. But when I start to

29:05

program it faster, it starts to look like

29:07

digital energy and then it doesn't just

29:09

replace property. Then you're starting to replace

29:11

bonds. It's a 100 trillion dollars worth of bonds.

29:14

There's 50 to 100 trillion in

29:16

other currency derivatives and these are all conventional

29:19

use cases. Right? So I think there

29:21

are 350 trillion

29:24

to 500 trillion dollars worth of currency derivatives

29:26

in the world. And when I say that, I mean things

29:28

that are valued based upon the fiat cash

29:31

flows, any commercial real estate,

29:33

any bonds, any sovereign debt,

29:36

any currency itself, any derivatives

29:38

to those things. They're all derivatives and they

29:40

are all defective and they're all defective

29:42

because of the persistent 7% to the 14% lapse in which we call inflation.

29:48

And to watch this interview, the gig at Chad, Michael

29:50

Saylor did check the show notes below the video

29:52

in the description. And what are your thoughts surrounding

29:54

his 10 million dollar

29:57

Bitcoin price prediction along with a hundred

29:59

trillion dollars? Bitcoin market

30:01

cap? Let me know your thoughts in the comments right

30:03

down below. And don't forget to check out CryptoNewsAlerts.net

30:06

for the full premium experience with video

30:09

and to participate in our live Q&A. And

30:11

I look forward to seeing you on tomorrow's episode.

30:14

HODL!