Bitcoin & Crypto Market About to Go ABSURD (this is just the beginning)

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TimeStamps:
00:00 All Bitcoin ETFs Just Went LIVE!
02:23 BlackRock, Fidelity, & More to Start ‘Heavy Advertising’ for Crypto
04:03 Massive Selling out of Grayscale
05:26 Has Bitcoin Topped? Should I Sell?
06:34 Vanguard Bans All Customers from Buying Bitcoin ETFs
07:50 Coinbase in trouble…
08:17 Injective Protocol has BIGGEST Upgrade to date
09:04 AI Crypto About to Launch Mainnet
09:38 The NEXT Arbitrum and Optimism

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I do think this is a historic moment in the sense of it’s the first time that the internet and Wall Street they’ve had this healthy tension for a couple of years uh even a couple decades and it’s the first time wall streak blinked we are witnessing history as record amounts

Of money flow through these Bitcoin ETFs on the first day of listing listen today is going to be chaos right because youve got 13 sales forces trying to pull in money you’ve got grayscale this giant that lots of people are going to be redeeming from and so at the end of the

Day at 2:30 when you put in your redemptions and your creates there’s going to be you we’re seeing chaos as the spot Bitcoin ETFs record 2.38 billion in trading volume for the first day okay now let’s talk pricing the price of Bitcoin our base case uh is in

The $600,000 range our bull case and we think the probability of the bull case has increased with this SEC approval this is a green light our bull case is $1.5 Million by 2030 you can you can see the building blocks you can see how conservative we are and if we look at

The winners ranking the 11 newly trading Bitcoin ETFs grayscale is coming in at number one with over a billion dollars in volume Black Rock coming in at number two with over $600 million in volume and Fidelity AR invest bitwise Invesco what is going to ultimately make your fund distinct from Kathy Woods’s fund

Distinct from grayscale distinct from Black Rock Fidelity how should somebody who’s watching this this morning who may say to themselves you know what maybe I want to buy one of these things actually decide so I think in the long run you’re going to have two or three that actually

Uh win I don’t think it’ll just be one winner it’ll be a couple winners um we have a ETF in Canada with CI group and uh we started second we were second place and now we’re the largest ETF and I looked last year at tracking error

Because all you really care about as an investor is does this thing track Bitcoin uh we were less than 1% tracking a our largest competitor was 11% and so all ETFs are not created equal so what goes into that it’s your execution it’s your liquidity it’s the hidden fees

Right and so we think we’ve we’ve done this before we’ve done it in Germany we’ve done it in Canada we’ve done it in Brazil uh we know how to run a cash cre ETF so when people say something could go wrong that’s what you’re talking about it’s tracking era but we’re now

Watching all these different Bitcoin ETF issuers compete against each other to sell their client base their Bitcoin ETF I imagine we’re going to start seeing advertising maybe on CNBC maybe on in the Wall Street Journal and other places because all of these folks who have these ETFs are desperately going to need

Customers yes so listen we Invesco did a call in age with 90 Sal salespeople last night I imagine the other 13 ETF providers are doing the same thing and so Bitcoin has always been about adoption right you you sold Bitcoin you haven’t bought it right had a convince

People we call it orange pilling now the winners are still being chosen but actually combined in the first hour this already broke records the 10 fresh spot Bitcoin ETFs I guess that means everybody but grayscale since they already had billions of dollars in funds as a group they already topped bidos

Record which is Bitcoin Futures which used to hold the record the latest report according to Yahoo finance data is that the spot Bitcoin ETFs hit 3 .5 billion in trading volume today but just understand that that is both buying and selling and when we compare these

Bitcoin ETFs to all ETFs in general it’s actually Bido and gbtc who are both in the top 10 among overall ETFs in trading volume today although black rocks and fidelities also making it in the top 25 and to contextualize this just know for the new ETFs for the 10 fresh ETF

Volumes that does equal buying of BTC today clearcut but for gbtc the volume probably all is selling you said there’s going to be a lot of people redeeming at grayscale why do you say that listen people bought grayscale at a 30% 40% 50% discount to nav and with Bitcoin far

Lower uh and so the chance to now get out at par uh they’re going to do that and there is still a fee war going on among these ETFs who has the cheapest fees yes I mean this is a fee word and that’s what I mean is it going to be

Profitable for anybody there’s there’s a huge amount of demand that’s built up but there’s also a huge amount of players who want to meet that demand so if you look great scale was at 2% they dropped to 1 and a half% right and people like why didn’t they drop all the

Way down to 0.2% well big thing is if you want to go sell your grace scale and try to roll somewhere else you’re going have to pay taxes unless you’re in a tax advantage account so there’s a lot of assets that are going to stay in Grace

Scale right and those guys will never get enough credit for pushing this issue and really kind of helping push it forward but I think that uh what you see is GRA saying hey we already have a lot of assets let’s hold on to what we have and everyone else saying well we want

All the new assets that are going to come in so we got to go compete in the fee war and so. 2. 3 point4 how much does it really matter some advisers really care other advisers say hey I just want to buy something that’s a great product I think is going to track

The price correctly but what I think is going to ultimately end up occurring is there’s going to be tens of billions of dollars that are going to flow into these ETFs you have a finite asset so it will go up and price will go up in the

Long term but in the short term on the day of the listing is now the time to sell what I think you’re missing is this is a limited Supply asset we don’t have a lot of limited Supply assets and there are a lot of people that believe in this

Like a religion so they’re not selling that’s right and so 70% won’t sell so where’s it come from and so you’re going to drive price up as you get more adoption short term do you say to yourself there’s a whole bunch of people who’ve bought in the last 3 4 months

Waiting for this day to come do they sell into this do they I think today we could literally see 50,000 and 40,000 trade we’re going to see a lot of volatility today um traditionally ETFs Mark the high the short-term high right almost every one of them that’s come out

Then there’s a selloff and then there’s the rally so I’m expecting massive price swings up and down in these first few weeks I’ll never sell but I look at it I’m thinking wow it’d be nice to get you know 46 is not a bad number there’s a

Lot of people who sold Amazon over the years right many other great Investments but I think wish we don’t know it’s an Amazon well it’s been better than Amazon but just understand it’s not all sunshine and rainbows I have a retirement account with a Vanguard I

Called them and they said they will not be offering any of the Bitcoin ETFs meaning Vanguard is blocking any of their clientele from actually buying Bitcoin here’s somebody trying to buy fidelities and it says trade cannot be complete and this appears to be confirmed by the company itself Vanguard

The second largest asset manager in existence says they are blocking all clients from buying spot Bitcoin ETFs on their platform a spokesperson stated these products don’t fit with vanguard’s investment philosophy and high volatility runs counter to our goal of helping investors generate positive real returns over the long term yet I did a

Little bit of digging and if you look at the top 10 owners of micro strategy vanguard’s number two Vanguard is a top 10 owner of micro strategy and also owns Bitcoin mining stocks also Vanguard in the past has let clients purchase gbtc of course now they can only sell and

Vanguard also lets you trade Bido which is the inferior Futures ETF product something doesn’t add up also coinbase is going to have to adapt as it’s now cheaper to buy a Bitcoin ETF than it is to buy actual Bitcoin on coinbase so coinbase may have to drop their fees

Because um it may be more inexpensive to hold the Bitcoin ETF for a year than to make one simple trade on coinbase so obviously there’s pressure there also many of you subscribe not just for the bitcoin news but for the altcoin news what’s happening with altcoins injective

Has just released their largest main net upgrade to date volan ushering a new age of real world assets institutional adoption scalability and web 3 Finance so specifically this focuses on rwas as well as further connectivity with the cosmos chains Central to the upgrade is the integration of a software module

Focusing on rwas the objective is to enable both institutional and individual users to access a variety of Structured Products these planned real world asset offerings include tokenized fiat currency pairs treasury bills and exclusive credit products so rw’s obviously a trend in crypto in 2024 growing steadily we also have artificial

Intelligence crypto AIT protocol making news that’s the world’s first AI data infrastructure and the news today is our data annotation platform is gearing up for its main net debut on January 15th get ready to complete tasks as we kick off the point counting process so the

Main net is being released and by the way here’s a sneak peek of a revolutionary AIT data annotation platform designed to train AI models now by the way I am invested in these I’ll always tell you and speaking of that ZK link introduced their ZK link white paper this essentially connects all l2s

Solving liquidity fragmentation here’s the founder we are building a zkp based the first zkp based unified layer three across multiple layer tws and by doing this we’ll be able to connect the fragmented liquidities on different uh ethereum layer to ecosystems now they are about to launch but just to really

Clarify what is L3 layer 3 is are third blockchain layer built on top of etherum layer two rups delivering higher scalability lower gas cost and more application specific customizability so what is unique about Zig link Nexus compared with other layers L that are launched recently by the general purpose layer to Zink Nexus

Provides aggregated liquidity across the multiple layer tools as well as more trading opportunities unlocked by the aggregated assets so always cool to see the building in this space very volatile bitcoin price today like always see you tomorrow