0:00

Hey there! Did you know Kroger always gives

0:03

you savings and rewards on top of our

0:05

lower than low prices? And when you download

0:07

the Kroger app, you'll enjoy over $500 in

0:09

savings every week with digital coupons. And don't

0:12

forget fuel points to help you save up

0:14

to $1 per gallon at the

0:16

pump. Want Want to save even more? With

0:18

a boost membership, you'll get double fuel points

0:20

and free delivery. So shop and save big

0:23

at Kroger today! Kroger, fresh

0:25

for everyone. Savings may vary by

0:27

state. Restrictions apply. See site for details.

0:30

Welcome crypto fam to the number

0:32

one daily Bitcoin pod. BTFD alert.

0:34

Take advantage of this dip in

0:36

today's show. I'll be breaking down

0:38

the latest Bitcoin technical analysis as

0:40

well as leverage crypto traders are

0:42

hit hard with $872 million liquidated

0:44

in a single day

0:48

amid this Bitcoin price drop. We'll

0:51

also be discussing GBTC sees $166

0:53

million outflow despite

0:56

the CEO's equilibrium remark. We'll

0:58

also be discussing 10.5 trillion

1:00

asset manager BlackRock's spot. Bitcoin ETF

1:02

now officially holds 270,000 BTC and

1:04

only took them three months

1:10

to accomplish it. We'll also be

1:12

discussing breaking news out of China.

1:14

Are they about to start their

1:16

bidding with this Hong Kong ETF

1:18

set to launch this Monday, both

1:20

for the Bitcoin ETF spot as

1:22

well as for Ethereum? Well, this spark

1:24

a rally. We'll be talking about

1:26

it. We'll also be discussing BlackRock

1:28

and Fidelity ETF bombshell triggers a

1:30

massive $75 trillion

1:33

Bitcoin price prediction. That's right. I'll

1:35

be breaking all this down for

1:37

you. All this plus so much

1:39

more in today's show. Yo,

1:47

what's good crypto fam? This is first

1:49

and foremost a video show. So if

1:52

you want the full premium experience with

1:54

video, visit my YouTube channel at crypto

1:56

news alerts.net. Again, that's

1:58

crypto news alerts. Dotnet

2:00

today big day in crypto another

2:03

sat stack and Saturday. This is

2:05

podcast episode number 1608

2:08

I'm your host JV. It's April 13th 2024

2:12

and Bitcoin just corrected $5,000

2:15

in the past 24 hours. It

2:17

is dropping However a great opportunity

2:19

pre having to be stacking em

2:21

sats take advantage of that stack

2:24

and Saturday Just saying let's

2:26

kick it off with our market watch

2:28

as we do each and every day

2:30

checking out coin 360 as

2:32

you can see let me refresh this just

2:34

to make sure it's the latest numbers I'm

2:37

gonna refresh coin market cap comm as well.

2:39

So here we go according to coin 360

2:42

bitcoins still above sixty four thousand eight hundred

2:44

only down four percent of the day and

2:46

according to this ethers trading

2:49

Just above three thousand down six

2:51

percent and the alts can you

2:53

say rec city? massive beaten XRP

2:55

down to 48 cents like whoa

2:57

and Checking out coin

2:59

market cap comm holy moly the market cap

3:01

shed a lot We're sitting at a two

3:03

point two nine trillion market cap with 110

3:05

billion in volume for the past 24 hours

3:08

But look at that Bitcoin dominance. It's

3:10

up several percent on the day all

3:12

the way up to 55 percent now

3:15

this happens I think it's when the

3:17

alts especially the ish coins such as

3:19

the mean coins a lot of the

3:21

coins with no utility Kind of go

3:24

crazy They need to be humbled and

3:26

that's what happened Bitcoin takes the market

3:28

dominance from them via a correction Bitcoin

3:30

Maintains itself while the alts continue

3:32

to get wrecked heavily. You

3:34

have the ether dominance also at 16%

3:37

even my question for y'all How high do

3:39

you think that Bitcoin dominance will likely climb

3:41

to the cycle? I'll let you boy I

3:44

think 60% plus is a given personally Maybe

3:46

we go as high as 70% time will

3:48

tell and check it out the top one

3:50

hundo crypto gainers for the past 24 hours

3:53

Virtually not a except stable

3:55

coins actually doing anything in

3:58

the green because virtually everything is

4:00

bleeding and in the red. So instead of the top

4:02

gainers, here are the top losers for the past 24

4:04

hours. We got 40,

4:07

go figure, Pepe and EOS all down

4:09

between 25 and 28%. And

4:13

checking out crypto bubbles. Oh, can you

4:16

say blood bath? There's literally

4:18

nothing in the top 100 in the green. That

4:21

means every single thing is bleeding. Substantial

4:24

losses family. This is just on the day. Stacks down

4:26

17%, bonks down 22%, sand down 25%, Pepe down 25%,

4:29

Orte down 29%. Pretty

4:37

scary. And checking out the monthly,

4:39

it's not much better. So

4:41

yeah, you can see, I personally feel

4:43

we had an alt season in the

4:45

past six months and a

4:47

lot of these alts have been

4:49

mooning, but now, again, Bitcoin's humbling

4:51

them. And checking out the crypto

4:53

green and fear index. We're currently rated a 72 greed yesterday,

4:55

79 extreme greed last week, 75 and last month in

5:01

88 and extreme greed. We always watch

5:03

this metric because the higher we get. So

5:05

for example, yesterday we hit a size of

5:07

79 and guess what? Today

5:09

major corrections. So the higher this gets,

5:11

the more likely of a correction and

5:13

checking out the Bitcoin having countdown. Here's

5:15

the silver lining. 25

5:17

days left until Bitcoin

5:19

having 2024 scheduled to

5:22

take place April 19th. And look at the

5:24

block. We've surpassed 839,000 as soon as we hit 840,000, which means what?

5:31

953 more blocks. We're

5:33

going to hit the infamous halving of 2024 and

5:35

checking out the time chain calendar

5:37

shows you the block we're currently

5:40

at. It shows you Bitcoin's market

5:42

caps and pretty at 1.23 trillion.

5:45

And you can currently trade $1 for 1,598 satoshis. So

5:51

take advantage of it here on Satsap and

5:53

Saturday while you still can. And let me

5:55

know where you feel that Bitcoin price will

5:57

likely take us leading into the halving roughly.

6:00

five days out.

6:02

Anyways fam, let's kick it off with

6:04

a little bit of TA and check

6:06

out some of the charts and why

6:09

there is mass carnage in the market.

6:11

Headline here is Bitcoin dominance hits three

6:13

year high as Bitcoin price bit pressures

6:15

the altcoins and as I mentioned earlier

6:18

we hit 55% Bitcoin dominance.

6:20

That's right, Bitcoin's market cap dom

6:22

has hit its largest level in

6:25

three years. Whoa, Nelly, that's like

6:27

a thousand days as alt field

6:29

renewed price pressure. That's what happens family

6:32

and according to this data, crypto market

6:34

cap spiked and even hit as high

6:36

as 56% to 3% and that was

6:38

yesterday, April 12th, today

6:42

being the 13th. So the Bitcoin

6:44

price action suffered into the weekend

6:46

with a liquidation cascade bringing Bitcoin

6:48

currently in the 62,000 range.

6:51

That's right, we dipped even thousands

6:53

more here in the past what

6:56

20 minutes since going live, crazy

6:58

right? Altcoins face much worse conditions

7:00

according to data. Many of the top 20

7:02

cryptos by market cap sell more than 15%.

7:05

That's right, can you say

7:07

rec city? Quoting analyst

7:10

here, I do typically or don't

7:12

typically look at the Bitcoin dominance

7:14

but the chart is impressive considering

7:16

the amount of new alts birthed

7:18

into the market every day. That

7:20

was according to Bagsy, crypto trader

7:22

and also we have Dan crypto trades among

7:24

those noticed in the difference in the drawdown

7:26

between Bitcoin and the alts in the recent

7:29

days, quoting him here, yes, the

7:31

actual hit on Bitcoin was very minimal

7:33

and the total downside also wasn't very

7:35

relevant. The real damage was done in

7:37

the altcoin sector, which wiped out billions

7:39

of open interest and made for Wix

7:41

up to 50% as

7:45

outlined here in the Bitcoin market

7:47

cap dominance chart brought to you

7:49

by TradingView. Now alt season hopes

7:51

to stay in play, that's right,

7:53

Bitcoin bull market historically tends to

7:55

see a dominance breakout in the

7:57

early stages with alt then catch

8:00

an end. once Bitcoin sees a

8:02

period of prolonged consolidation. So far

8:04

this year, altcoins, while performing very

8:06

well, have not witnessed such conditions

8:08

for a meaningful length of time,

8:10

forecasting what comes next, fellow trader

8:14

Mikey Bull. Crypto argued

8:16

that the change would soon come,

8:18

quoting him here, altcoins market cap

8:20

is perfectly following the previous alt

8:22

season's debt. This is the last

8:24

shake off before it rips explosively

8:26

upward coupled with Bitcoin dominance downtrend

8:29

downward trend. So there you go. And this

8:31

chart you can see in your screen compares

8:34

Bitcoin and the alt dominance drawing comparisons with

8:36

the end of 2020, the

8:39

point at which Bitcoin's price had

8:41

escaped its previous macro trading range

8:43

below $20,000. Let's

8:48

dive into our next story of the day. Keep

8:50

the comments flowing greatly appreciated. Lots

8:52

of liquidations, Joe. And this story was

8:55

published before I went live. And again,

8:57

we just liquidated probably a tremendous amount

8:59

more. But nonetheless, here's the gist of

9:01

what's happening. Currently, the value of the

9:04

crypto market is approximately, it was 2.4

9:06

trillion a few hours ago,

9:08

but let's actually look on coin market cap right

9:10

now it's only 2.2 trillion. Look

9:13

how fast those trillies are

9:15

dropping. This is pretty insane.

9:18

But anyways, I digress. Let's go

9:20

back here. Following a 7.4% decrease

9:23

over the last day, the volume

9:25

of the global crypto trade surged

9:27

36% Friday reaching 114 billion.

9:30

And before 8am on Friday, Bitcoin was

9:32

trading above 70 g's baby.

9:34

And it briefly jumped above 71,000 during

9:37

the early morning trading sessions.

9:40

However, Bora resistance quickly emerged

9:42

causing the price to falter

9:44

and subsequently fall sharply at

9:46

2pm. Look at that. There you

9:48

go. The one hour candle at 2pm recorded a drop

9:50

to a low of 65,000 per bitty.

9:53

The price managed to record a

9:55

slight rebound from this low and

9:57

it's currently trying to claim 62,

9:59

63, we're another $5,000

10:01

down since the time of this article.

10:04

That's how fast we've been dropping,

10:06

yo. It's crazy. Quoting analyst Vinny

10:08

here, if Bitcoin can't hold $60,000 by

10:10

Monday morning, this bull run is

10:13

probably over. Now we have about, what,

10:15

a day and a half until Monday

10:17

morning, and right now we're trying to

10:19

hold on to $60,000. We're

10:21

currently $61,000, $62,000, so time will tell. Bitcoin

10:25

is down tremendously over the day, falling

10:27

against the US dollar over the past

10:29

month, the market volatility on Friday, further

10:32

led to a notable number of liquidations

10:34

among crypto traders using leverage.

10:37

Can't stress to

10:39

proceed with caution, extreme caution,

10:41

especially at around the time

10:43

of having trading with leveraged

10:45

fam. It's crazy. Around

10:48

275,000 crypto traders experienced liquidations,

10:50

ouch, virtually all of them,

10:52

with total losses approaching $1

10:55

billion. That was before

10:57

dropping an additional 5,000 families, so these

10:59

numbers are probably even way higher. So

11:01

according to data from CoinGlass at 4

11:03

p.m. Eastern time, 871 million in

11:05

leveraged positions were

11:08

liquidated in 24 hours, including 782 million from long

11:10

positions and 91 million from

11:15

short positions. Shout out to

11:17

GrandBuck. I greatly appreciate the super.

11:19

He wrote, just keep the faith.

11:22

Sage advice there, that's all

11:24

you got to do because one Bitcoin's still

11:26

equivalent to one Bitcoin regardless of where the

11:28

Bitcoin price temporarily goes in fiat terms family.

11:30

Don't forget it, and thank you GrandBuck. While

11:33

the global average price of Bitcoin is currently back down

11:35

to 62,000, Bitcoin still

11:37

trades at a premium in South Korea.

11:39

Of course, it's trading at a premium

11:41

all around the world. Australia,

11:44

I know, we hit 100,000 all-time high. The

11:47

UK. So anyways, we're going

11:49

to keep an eye out on what's happening and

11:52

of course, the latest news as it

11:54

comes in developing. But let's just keep the

11:56

news afloat and I appreciate the comments. Let's

11:58

dive into the latest with these big news.

12:00

Bitcoin ETFs headline reads,

12:02

GBTC sees 166 million

12:05

outflow despite the CEO's equilibrium

12:07

remark what's going on Mr.

12:09

Sunnenshine. The grayscale Bitcoin ETF

12:12

GBTC continues to experience significant

12:14

outflows with over 166

12:17

million and more than 2500 biddies

12:19

withdrawn from the funds holdings on

12:21

Friday, April 12th which

12:23

was yesterday. According to Far Side

12:26

Investor data, outflows from GBTC have

12:28

exceeded 16.2 billion. Good

12:30

Lord! Since the Bitcoin ETFs January launch,

12:32

that was January 11th, three months ago,

12:34

since the month of April, the daily

12:36

outflows from the Grayscale Bitcoin Trust have

12:38

been fluctuating between 75 million and 300

12:40

million. On

12:43

the other hand, inflows into Bitcoin

12:45

ETFs have been minimal, indicating declining

12:47

investor engagement. GBTC recorded significant

12:49

outflows of 767 million this week, contributing to

12:51

overall negative

12:55

flows into the Bitcoin ETFs.

12:58

Now BlackRock has maintained strong

13:00

support as assets under management

13:02

for iBit. Bitcoin's ETF exceed

13:04

$15 billion,

13:06

narrowing the gap with Grayscale's

13:09

Bitcoin Reserve. A significant portion

13:11

of GBTC outflows has likely

13:13

flowed back into BlackRock. Now

13:16

Grayscale CEO Michael Sunenshine hinted

13:18

earlier in the week that

13:21

outflows from Grayscale's Bitcoin Trust

13:23

might be stabilizing. Keyword might

13:25

be, because they're not, suggesting

13:28

optimism amongst traders and investors.

13:30

However, current data indicates the

13:32

current situation may not align

13:34

with his optimism, unfortunately. One

13:36

primary reason behind the massive

13:38

GBTC outflows has been the

13:40

high management fee, the fund

13:42

charges. However, Sunenshine has been

13:44

hesitant to cut the fees,

13:46

despite losing the flows to

13:48

competitors. GBTC has the highest

13:50

management fees out of all US Bitcoin

13:52

ETFs, pinned at 1.5% a year, compared

13:56

to the 0.3% average

13:58

of its competitors. So yeah,

14:00

it's like five, six times more

14:02

fees. So hence why so many

14:05

investors are ditching GBTC. Why wouldn't

14:07

they change that fee sooner than

14:09

later? Do you have any

14:11

insights with that chat? Let me know.

14:13

Sunn and Shy noted that markets often

14:16

exhibit high excitement when commodity exposure

14:18

products like grayscales Bitcoin Trust

14:20

versus the merch. However, these

14:22

products mature as time passes,

14:24

leading the market consolidation as

14:26

investors focus on few offerings.

14:28

Now, according to Farside data, GBTC

14:31

saw outflows of almost 18 million

14:33

on April 10th, a significant decrease

14:35

from 155 million outflows

14:38

recorded April 9th, good Lord. The

14:40

previous low was February 26th when

14:43

GBTC out flowed 22.4 million and

14:46

the daily GBTC outflows average across the

14:48

four months is more than a quarter

14:50

billion at 257 million. GBTC

14:54

launched in 2015 and converted

14:56

to an ETF on January

14:58

alongside the launch of the nine other spot

15:00

Bitcoin ETFs after grayscale won the

15:02

lawsuit against the SEC, forcing

15:05

it to review a GBTC

15:07

conversion bid it denied. Now

15:09

bankrupt crypto lending firm Genesis

15:11

recently offloaded approximately 36 million

15:14

GBTC shares to acquire 32,000

15:16

Bitcoins. So

15:19

there you have it, fam definitely not

15:22

helping the market when you

15:24

have all of these outflows. But according

15:26

to Sunn and Shy, we're seeing an equilibrium but

15:28

maybe you spoke a little too soon, so we'll

15:30

see. Something let's not forget though, GBTC

15:33

was the largest hodler of Bitcoin in the

15:35

world. They had like 620,000 plus Bitcoin, but

15:39

since the ETF launch and their conversion, they're

15:41

now down to like 200 and something thousand.

15:43

So I think BlackRock now has more Bitcoin

15:45

at 270,000, which

15:48

we're gonna be diving into here in a

15:50

bit. But anyways, we discussed Bitcoin ETFs from

15:52

the outflows of GBTC. That

15:54

was focused on the king BlackRock,

15:57

acquiring 270,000 Bitties. like

16:00

it ain't no thing. Headline reads, 10.5 trillion

16:03

asset manager BlackRock's spot Bitcoin

16:05

ETF now holds 270,000 bitcoins.

16:09

BlackRock released its financial results

16:11

on Friday for the first

16:13

quarter that ended March 31st,

16:15

showing a record 10.5 trillion in

16:17

assets under management, an increase of

16:19

1.4 trillion from the previous year.

16:22

The asset manager spot Bitcoin itself,

16:24

the iShares Bitcoin trust, maintain the

16:26

dominant position in the US spot

16:28

Bitcoin ETF market, and as of

16:30

April 11th, iBits Bitcoin holdings put it

16:32

approximately 270,000 Bitcoin with a notional

16:36

value of over $18.9 billion.

16:40

Now Larry Fink, CEO of

16:42

BlackRock recently said that

16:44

iBit is the fastest growing ETF

16:47

in the history of ETFs. He

16:49

added that he is very bullish

16:51

on the long term viability of

16:53

Bitcoin and is pleasantly surprised by

16:56

the retail demand for BlackRock's spot

16:58

Bitcoin ETF. In fact, last week

17:00

BlackRock filed an amendment to its

17:02

iBit prospectus, revealing that the fund

17:05

now has nine authorized participants. They

17:07

are ABN AMRO Clearing USA Citadel

17:09

Securities, City Group Global Markets, Goldman

17:12

Sachs, Jane Street Capital, JP Morgan

17:14

Securities, we have

17:16

Macare Capital, UBS Securities, and

17:18

Virtu America. BlackRock also filed

17:21

an app with the US

17:23

SEC to launch a spot

17:25

Ether ETF, despite some optimism

17:27

surrounding potential SEC approval of

17:30

spot Ether ETF apps by

17:32

May's deadline. Skepticism continues to

17:34

grow. Jan van Eck, CEO

17:36

of Van Eck, recently expressed

17:39

his doubts, anticipating the rejection

17:41

of his application in May

17:43

from his firm. Moreover, there are

17:45

reports the SEC may be trying

17:47

to classify Ether as a

17:50

security. Fink, however, believes that even

17:52

if Ether is classified as a

17:54

security, BlackRock can still launch a

17:56

spot Ether ETF. In

17:58

fact, Thursday, Financial Technology

18:00

Firm, a stablecoin provider circle,

18:03

introduced smart contract capabilities aimed

18:05

at enabling holders of BlackRock

18:07

USD Institutional Digital Liquidity

18:09

Fund to exchange their shares for

18:11

USDC Through circle. Now here's

18:13

one thing I don't trust That's

18:15

USDC aka circle because their enemies a

18:18

Bitcoin at least Larry Fink though once

18:20

clearly an enemy of Bitcoin publicly He

18:22

once bashed it and said it was

18:24

an index for money laundering at

18:27

least now He's all on board claiming

18:29

it's a flight to safety or a

18:31

flight to quality and he's

18:33

now pumping our bags So I mean we

18:35

had the opportunity to front run mr. Lawrence

18:37

Fink and BlackRock and all of Wall Street

18:40

and it feels damn good I'm just saying

18:50

Now we all know Bitcoin is the best

18:52

asset Do

18:55

you agree you agree There

18:58

is no second best asset But

19:01

anyways fam next story of the day Let's

19:04

discuss this breaking news coming out of China

19:06

with these ETFs actually Hong Kong so in

19:08

the outskirts of China Not that mainland but

19:10

close enough. Here we go headline

19:13

reads China is about to start its

19:15

bidding Well, Hong Kong's Bitcoin ETF spark

19:17

the having rally. Let's break it down

19:19

Shall we the potential approval the first

19:21

batch of the spot? ETFs in

19:23

Hong Kong could be a big

19:25

catalyst for bitcoins having rally. That's

19:27

right The securities regulator Commission, which

19:29

is the SFC over there in

19:32

Hong Kong could approve the first batch of the

19:34

spot Bitcoin details by April 15th, which would be

19:37

a few days right before the having is that

19:39

a coincidence? I think

19:41

not the Hong Kong regulator had

19:43

reportedly Accelerated the approval process for

19:45

for spot Bitcoin ETFs According to

19:48

local news media reports the potential

19:50

approval could attract more buying demand

19:52

for Bitcoin By

19:54

offering Bitcoin exposure to both retail

19:56

and institutional investors over there in

19:58

Hong Kong now Hong Kong Hong

20:01

Kong regulators could approve both Bitcoin

20:03

and Ethereum ETFs on April 15th,

20:05

according to a crypto entrepreneur and

20:07

investor, Lark Davis, who wrote the

20:10

following, Hong Kong likely to approve

20:12

both Bitcoin and Ethereum spot ETFs

20:14

as soon as Monday. China

20:17

is about to start bidding the same

20:19

week the Bitcoin halving is happening. Let's

20:21

go. It'll take approximately two

20:24

weeks to finalize ETF listing procedures

20:26

on the Hong Kong stock exchange

20:28

after the securities regulator green lights

20:30

the initial set of spot Bitcoin ETFs.

20:33

Now the approval of the first spot

20:35

Bitcoin ETFs in Hong Kong could catalyze

20:38

Bitcoin's post halving rally, according to Herbert

20:40

Sim, chief operating officer of crypto exchange

20:42

WebC, who told Cointelegraph the following, halving

20:44

is not the only thing to look

20:47

out for in the price action, but

20:49

rather the upcoming Bitcoin ETF approval in

20:51

Hong Kong, which also happens next week.

20:54

The big banks of China will all

20:56

have to start buying Bitcoin themselves too.

20:58

Let the bidding begin. Sim

21:00

noted that Hong Kong based ETFs will

21:02

only add to the institutional demand and

21:05

inflows created by large US ETF issuers

21:07

such as BlackRock, which he expects to

21:09

continue, including him here. And

21:12

with this supply cut from the Bitcoin

21:14

halving, the prices will definitely soar, send

21:16

it. Large investors or so-called mega

21:18

whales that are holding at least 10,000 biddies

21:21

are accumulating Bitcoin at the current

21:24

price level in anticipation of next

21:26

week's approval. According to popular crypto

21:28

commentator, Bitcoin mongers, April 12th

21:30

post, quoting him here, the only

21:33

cohort that is net accumulating Bitcoin

21:35

is the largest whales just ahead

21:37

of Hong Kong ETF approvals and

21:40

the Bitcoin halving, a positive contrarian

21:42

signal if I had to

21:44

guess. Meanwhile, the ETF inflows have been

21:47

a significant part of the Bitcoin price

21:49

rally by February 15th. Bitcoin

21:51

ETFs accounted for about 75% of

21:53

new investment in Bitcoin as it surpassed the

21:56

50,000 mark and Bitcoin's price action has

21:58

been closely correlated. With the net

22:01

Bitcoin ETF inflows, according to Thomas

22:03

Fairer, co-founder of Apollo, who wrote

22:05

the following, I would have thought

22:07

it was extremely obvious that ETF

22:09

flows are driving the Bitcoin price.

22:12

So there you have it, my

22:14

crypto fam. Let me know your

22:16

thoughts how the market will likely

22:18

react to these ETFs being launched

22:21

potentially in Hong Kong

22:23

here soon. And yeah,

22:25

and do you think they will

22:27

approve both spot Bitcoin and Ethereum

22:30

collectively at the same time? Hala.

22:33

In that chat. Now for our future

22:35

story of the day, eh? Let's discuss

22:37

BlackRock and Fidelity. The ETF bombshell triggering

22:40

a massive $75 trillion Bitcoin

22:43

prediction. Obviously that's

22:45

not price action, that's market cap. But

22:47

to hit a $75 trillion market cap,

22:49

we're talking $3.8 million Bitcoin price. According

22:54

to ARK Invest, it's Cathie Wood. So let's

22:56

break this down. This was actually a Forbes

22:58

article a couple of weeks ago, and I want

23:01

to rehash this because this is actually pretty insightful. You

23:03

know what I mean? The Bitcoin price added around 350%

23:05

since crashing to a low of $15,000 per Bitcoin. I'm

23:10

curious how many of you actually

23:13

bought some biddies back when we tapped $15,000

23:15

just over a

23:17

year ago, fam. Feels like yesterday.

23:19

Largely thanks to a fleet of

23:22

the Bitcoin ETFs taking Wall Street

23:24

by storm. Now after Coinbase revealed

23:26

it's backing BlackRock's $5 trillion by

23:28

2030 game changer, famed

23:31

stock picker and Bitcoin bull Cathie Wood

23:33

has hiked their Bitcoin price prediction. Betting

23:35

a coming Bitcoin price surge will give

23:38

Bitcoin a market cap of $75 trillion

23:42

by the end of the decade. Let's go back to

23:44

coin market cap and check out Bitcoin's market

23:46

cap right now and in the flesh, the

23:48

market cap of Bitcoin today, right? $1.2

23:52

trillion. So

23:54

with Bitcoin having a $1.2

23:56

trillion market cap, what

23:58

is that? Roughly a $7 trillion. 70X

24:00

right from the current Market

24:03

cap 70X from here. Can you

24:05

see that? Please do let me know because you know

24:07

the price was sore Crazily

24:09

on that quoting her here

24:11

last year. We put out our bull case

24:13

for Bitcoin. It was 1.5 million dollars Said

24:17

would chief executive of disruptive technology investor

24:20

arc and she said that on stage

24:22

at the New York Bitcoin investor day

24:24

conference When it was reported by Business

24:26

Insider quoting her again with this Institutional

24:30

green light that the SEC has provided

24:33

kicking and screaming though It

24:35

did the analysis we have done is that

24:37

if? Institutional investors would allocate

24:39

a little more than 5% of

24:41

their portfolios in Bitcoin as we

24:44

think they will over time that

24:46

alone would add 2.3 million dollars

24:48

to the projection I just

24:50

gave you so would said referring to the

24:52

US SEC waving through

24:55

almost a dozen spot Bitcoin ETFs in

24:58

January, that's just based off 5% Allocation

25:02

from these institutions Let's not forget

25:04

BlackRock a few years back released

25:06

the report or a study and

25:08

I covered it numerous times on

25:10

the channel That their ideal Bitcoin

25:13

Allocation for a portfolio is

25:15

eighty four point nine percent

25:18

I'm not even gonna speculate what that

25:20

would mean for the Bitcoin price action

25:22

But you can use your imagination family

25:25

now Wall Street Giants BlackRock and Fidelity

25:27

have emerged as the two largest of

25:29

the new Bitcoin ETF issuers raking in

25:31

assets under management of around 15 billion

25:34

and 9 billion respectively And

25:36

now it's way higher

25:38

just FYI This was as of a

25:41

few weeks ago would own arc 21

25:43

shares of for Bitcoin ETF now hold

25:46

40,000 biddies worth two billion dollars

25:49

on behalf of Investors woods new

25:51

Bitcoin price prediction could see Bitcoin

25:53

hitting three point eight million by

25:55

20 36

25:58

years family. Can you see it? a massive near

26:00

6000% increase from

26:03

the current Bitcoin price and a

26:05

market cap of 1.2 trillion, which

26:08

ironically is precisely where we're at

26:10

today, quoting her again, we think

26:13

Bitcoin has miles to go. We're

26:15

at the very beginning of really

26:17

putting in place the financial ecosystem

26:19

native to the internet and disintermediating

26:22

all the toll takers. So there

26:24

you go. Now, after a period

26:27

of huge growth following their launch,

26:29

the new spot Bitcoin ETFs, including

26:31

Grayskills coveted trust saw outflows over

26:33

four straight days. Yeah, I mean,

26:35

outflows have not been slowing down.

26:37

But as we already touched upon, Michael

26:39

Sunenshine, the CEO of BlackRock says things

26:41

are going to be at an equilibrium,

26:43

but we'll soon see. But

26:46

let me know your thoughts specifically

26:48

here regarding Bitcoin tapping a 75

26:51

trillion market cap within the next

26:53

six years. And ideally,

26:56

off of that, hitting a

26:58

price of 3.8 million

27:00

per coin. Now, I remember when Cathie Wood

27:03

first made her prediction of Bitcoin hit in

27:05

a million by 2030, then she opted, we

27:07

all knew her bear scenario, her base case,

27:09

and her bull case, and she keeps up

27:12

in the bull case. And I'm

27:14

digging it. Shout out Cathie

27:16

Wood, right? She's just expressing

27:18

her bullishness because I think

27:20

they underestimated the Bitcoin ETF

27:22

demand. And I think the

27:25

demand shock, which is

27:27

unprecedented in any market, meaning

27:29

the Bitcoin success from

27:31

the Bitcoin ETF inflows has been

27:33

unlike anything we've ever witnessed in

27:35

the history of ETF launches. And

27:38

I think because of that, they're even

27:40

that much more bullish and just a

27:42

very modest allocation into Bitcoin from these

27:44

major asset managers is

27:47

a big move, right? Major moves, just

27:51

5% allocation. We're talking about $3.8 million

27:53

Bitcoin, 75 trillion market cap. That's

27:57

a lot of money. I know a lot of people are going to spell it. But

28:00

is that is that even possible? Well,

28:02

yeah, there's roughly I hear now 900

28:06

trillion dollars worth of The

28:09

total addressable market meaning all the money

28:11

in the world, right and Bitcoin is

28:13

the apex predator So where will these

28:16

billionaires and institutions likely park their capital?

28:18

Shout out to Ricky Norwood appreciate the

28:20

sub likely into Bitcoin because there is

28:22

no second best, right? I shared a

28:25

graph I'm actually gonna pull it up

28:27

because it's very insightful. I shared it

28:29

in yesterday's podcast. I want to cover

28:31

this with you I'm gonna pull it

28:34

up over on X. I

28:36

just got to find it So bear with me a second here.

28:38

And if you're not following me on X, what are

28:40

you doing with your life? Make sure to follow me

28:42

on X. I appreciate it We currently got thirty three

28:45

point eight thousand followers and I would love to have

28:47

a hundred thousand followers Here's the chart

28:49

check it out. I replied to

28:51

Peter Schiff on this one. I got a lot of

28:53

love Peter Schiff wrote gold is now above 2400

28:56

what's happening is not normal gold doesn't

28:58

typically move like this especially on no

29:00

news if this means the Zarpqe

29:03

and deficit spending chickens are finally

29:05

coming home to roost the magnitude

29:08

and velocity of these gains And

29:12

he got over a half a million

29:14

views so I responded one second here $1

29:18

invested into Bitcoin or gold in 2009

29:21

is now worth that one dollar in Bitcoin

29:23

is now worth 91 million and that one

29:25

dollar in gold again 14

29:27

and a half years ago is now worth

29:30

two dollars. So was that tell us that

29:32

means gold Doubled in

29:34

price it doubled in

29:36

value in almost 15 years big

29:39

whoop Bitcoin 91

29:41

million percent increase

29:45

$1 turns into 91 million and this is a

29:47

chart I got from a Willie Wu the on-chain

29:49

analyst Shout out Willie Wu. I mean

29:51

pass the tail of the tape right there

29:53

and actually wrote something about it as well

29:55

I'm gonna read to you because I just

29:57

want to share my thoughts on after I

29:59

analyze that myself here. Let

30:02

me just pull this up. So this is what

30:04

I wrote. I don't understand gold bugs who

30:06

think gold is a viable store of value. Yes

30:09

gold is up 2x in the past

30:11

14 and a half years, meaning if you invested

30:13

$1 into gold in January 2009,

30:15

today it would be worth a whopping

30:17

2 bucks. Ultimately meaning gold can't even

30:19

keep up with inflation. Meanwhile, if you

30:22

invested just a dollar into Bitcoin in

30:24

January of 2009, your $1 investment into

30:26

Bitcoin would now be worth $91 million.

30:32

Plus, let's not forget, corrupt governments

30:34

can and will seize your gold

30:37

as history has shown us. So

30:39

when it comes down to the

30:41

ultimate store of value, there is

30:43

no second best. Bitcoin

30:46

is king. Let me know if you agree

30:48

or disagree with that sentiment. I firmly believe

30:50

it. Where else are you gonna park your

30:52

cash? There is no second best store

30:55

value. There's Bitcoin, Bitcoin

30:57

and Bitcoin. Bitcoin and

31:00

Bitcoin. Just saying. But let

31:02

me know your thoughts surrounding all these predictions I

31:04

just shared with you. 75 trillion market cap, 3.8

31:08

million dollar Bitcoin by the year 2030 as

31:10

per ARK Invest's Cathy Wood. Holla.

31:13

And don't forget to check out cryptthenewsalerts.net

31:15

for the full premium experience with video

31:17

and to participate in our live Q&A.

31:20

And I look forward to seeing you

31:22

on tomorrow's episode. Hottle!