Blackrock is buying up all the Bitcoin! (What this means)

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Good morning good morning my thing is crooked I know I know I know welcome back to the O show everything crypto and nft is every day I don’t know why this is crooked today but it is and I’m not happy about it but it is what it is and

We’re going to do what we can because I’m absolutely exhausted I’ve been up since like 1: in the morning um having a sick kid is not fun especially for the kid so low is doing a little bit better which I’m super excited about um but I’m here it’s Saturday anyways let’s kind of

Talk talk about what’s going on with the Bitcoin spot ETFs and what this means for the entire Market because I don’t think a lot of people anticipated um I really thought this through I just thought a lot of people got excited about the Bitcoin spot ETF getting listed making Bitcoin

Essentially more legitimize but they didn’t really think about the after effects because let’s face it going back to um you know 2008 when we had the housing crash and everybody you know was freaking out people lost their homes it was a very very horrible time in American history that’s Essen why

Bitcoin was created and a lot of people have the speculation that Bitcoin was created by you know three-letter government agency I don’t believe that I don’t believe that I’ve talked to quite a bit quite many quite a bit of many early miners um and you know Bitcoin was

Created for the People by the people a thank you so much Kenny I appreciate it and people will start buying xrp again too I I can’t wait for xrp to pump because the xrp community deserves it and hopefully we do get that xrp um spot ETF and remember we did a video

Yesterday about the um what Larry Fink said okay so before we got get into what’s going on Black Rock and Bitcoin kind of want to remind you um yesterday Larry thinkink went on TV and basically saying how excited he was that the Bitcoin spot ETF got approved um and

That he’s hoping that we can get an ethereum spot ETF xrp um spot ETF that was previously before but yesterday he hit hard on ethereum the reason why he hit hard on theum is because of real world assets RW is basically um like um it’s basically an nft that’s really what

It is but I think for more valuable rwas we’re going to be able to see that on bitcoin because it’s it’s just a completely different mechanism but we’re not necessarily here to talk about that but the interesting thing Larry Fink said was that rwas essentially stop fraud it stops wrongdoing it stops bad

Behavior because you can literally you can literally prove that somebody owns something okay and then that’s where we kind of segue into the cbdc and then the ruled coin and you know complete utter world domination like in our Saturday morning cartoons I know this is kind of

Like it so anyways I don’t want to go too deep down that rabbit hole but it’s something that you guys should think about because now these people are in power um also too streaming in the house because bit cold outside and I don’t want to get sick cuz my kid’s sick and I

Got to be able to take care of her but a lot of people are really pressed about bitcoin’s price going down so there’s a couple reasons why I think bitcoin price going down well number one we knew for a fact that we were going to get an answer

Regarding the Bitcoin spot ETF the 8th through the 10th of January we also know that per the grayscale court decision grayscale one and the court was like you have to prove the Bitcoin spot ETF um you can’t make it horizontal cuz I have it the other way because I’m just a

Crazy person today um that’s just what we do on this channel but anyways um so the courts really had to the courts told SEC you’re out of line you’re wrong we’re going to do what we want to do and the SEC really had no choice but to

Approve the Bitcoin spot ETF of course and there was five out of um there there’s five people that voted um two of them voted no both were blue and um Gary G obviously voted yes the reason why I believe he voted yes is because he got

Reamed in court okay so that being said they really had no choice but to approve the Bitcoin spot ETF even though war is like no we don’t want this so all of this stuff is related so let’s talk a little bit and so why is price dropping

Well we had this and so we kind of knew that it was going to get approved around this date it was like a really and even like mainstream media outlets and traditional Financial people they’re like there’s like a n a 95% chance this thing is getting approved so we kind of

Knew then we had the announ the faux announcement from the SEC on um on Twitter which mainstream media reported that the Bitcoin spot ETF was approved a day prior so that caused a lot of Market Insanity occurring so I think that’s probably one of the reasons why we might

Not have seen what um what many of us not myself expected because me personally I’ve been doing this for a long time and a lot of you guys that have been with me since day one we’ve been doing this for a long time and we know that Bitcoin just doesn’t go

Straight up it go you know we pump we’ll go sideways we’ll go up Pump sideways sometimes we have volatile drops that’s just how the market worked so that’s my kind of thought process on this and then some people are exactly calling like um they are exactly calling for like

$30,000 pullbacks do I think we’re going to see it I don’t know we could it kind of coincides with the um with the EMA um with the ema2 20000 on the larger time frames I personally don’t care like me doesn’t impact me because I have a set amount of Bitcoin that I have

Accumulated and I’ve been holding on to for us to see that million dollar Bitcoin the $100,000 Bitcoin Etc and I have a trading and investing plan for that that and I have different parts of my portfolio that are allocated differently okay and that’s why we talk heavily about a trading and investing

Journal so let’s talk about some interesting statistics about the Black Rock ETF um how much Bitcoin Black Rock owns and also too with the Bitcoin spot ETFs those markets are closed those are ba the ETFs trade Banker hours okay so it’s a completely different ball game essentially coming in Bitcoin yes we did

Have Futures which were Bitcoin Futures that approved a little bit different but the volume that we’re seeing is absolutely insane so let’s go and talk about this Cho so as of yesterday Black Rock holds 11,439 Bitcoin equivalent to $497 million that’s how much they’re holding now for their people that’s just black

Rock um and ibit went it had it hit $1 billion in volume the first day I believe it was the first day um there’s a total of 11 ETFs listed did and on the first day 700,000 trades took place which incapacitated um not incapacitated um but which um went like which kind of

Equaled $4.6 billion in total volume and that’s just the first day okay so there’s a lot of interest in this and we talked about it yesterday I don’t have the statistic in front of me but the first day of the Bitcoin spot ETF was actually more successful than gold ETF

Launch in two years so a lot of people were anticipating this we know this okay also to some very interesting things that if you’re brand new to the channel thank you for being here and again you guys smash the like get the likes up so

We push this out um so first off some interesting things is that obviously Bitcoin is only the Bitcoin spot ETF that product is only going to trade between Banker hours so keep that in mind and that could very greatly impact um your trading and invest plan if you’re somebody who’s actively training

Because we don’t necessarily know how the markets are going to react um when we open back up on Monday and actually I don’t know if we’re going to be open or not Monday because it’s MLK MLK day so I I don’t trade stocks I don’t do any of

That stuff so you have to keep that that into consideration if you’re someone who’s actively trading now um let’s talk a little bit about supply and demand basic economic basic econ 101 so Bitcoin is a fixed asset we have 21 million Bitcoin that will ever be present um due

To human error that amount is closer to 19 million so that lowers the supply quite a bit okay now with that being said in order for Bitcoin to remain running for the network to work you need miners you need the Bitcoin miners so if you’ve not thanked your local Bitcoin

Minor l tell them thank you because without them the network would not run so miners are making a killing right now because of all the different things that are transacting and happening so there’s that but in addition to that black rock holds almost 12,000 Bitcoin okay I know

A micro strategy has quite a bit um I know El Salvador has a bit there’s people that own a lot of Bitcoin but we’re talking about a giant black rock and I think they have1 trillion dollar under management good morning gamer good morning so we’re talking about a company

That has quite a bit of money um probably enough to purchase the entire crypto market cap and I believe that statistic is right that they managed 10 trillion under assets I don’t know maybe I’m wrong but we’re talking about entities that have enough miners are failing so I hope

Not I hope not the guys that I know are doing incredibly well they have very high electric bills but at the same time they’re making a lot a lot of money so um but it’s going to be very interesting to see exactly what happens with Bitcoin in the

Future because um with the with with black rock and these traditional Financial entities that are now allowed to participate in legally allowed participate because before they weren’t necessarily allowed to we know a lot of them were were creating shell companies and doing things behind the scenes because that’s what these people do but

Now with the black Ro or with the Bitcoin spot ETF approved they’re legally allowed to essentially own or have a custody or whatever it is that they’re doing because ETF is just like a third party of a third party of a third party okay so what’s going to happen

When they continue to buy up more and more Bitcoin think about that um because again it’s a finite Supply with gold who knows how much we have we don’t know but with Bitcoin we know how much we have we can check on chain we can verify these

Things as a public ledger so that’s just a little bit of food for thought so if you’re somebody who’s interested in selling your Bitcoin think about that if you’re somebody who wants to buy Bitcoin think about it understand it is a volatile asset and just because there is

A lot of supply for it doesn’t mean that we’re not going to get drops doesn’t mean we’re not going to get pullbacks doesn’t mean we’re not going to get retracements so I just wanted to drop this information for you guys um go ahead and do your due diligence fact

Check me um drop me a comment let me know if you’re planning on buying more Bitcoin or if you’re planning on selling and um just thank you guys for spending this Saturday morning with me sending you all love and light I hope you and your families are feeling well I hope

Nobody gets sick and please remember to drink lots of water and drink your chicken bone broth in the morning thank you guys for watching and let’s hopefully we’ll get these likes up to about a thousand later bye-bye