Dive into the heart of the crypto revolution with Mike Novogratz as we explore the dynamic world of cryptocurrency investments. From the initial complexities of buying Bitcoin to the transformative potential of ETFs, this video sheds light on how digital currencies are becoming more accessible and poised for mainstream adoption. Discover the critical role of social constructs in Bitcoin’s value, the anticipation surrounding Bitcoin and Ethereum ETFs, and the steady move towards institutional acceptance. With insights into significant predictions for 2024, including technological advancements, regulatory developments, and market growth, we’re standing on the brink of a financial paradigm shift. This video is your gateway to understanding the future of money and the unstoppable rise of cryptocurrencies. Join us in unveiling the future that’s way bigger than we ever imagined.
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It was always complicated to buy crypto to buy Bitcoin right you had to set up a a wallet you had to set up a coinbase account you had to you had to do something different than you used to do and it started as a Young Person’s
Revolution the bulk of the money in the world and the bulk of the money in the United States is held by the Baby Boomers and the Baby Boomers in general talk to raas registered investment advisers to manage their money the e TF is the product designed for registered
Investment advisers you know and so we are now plugging in to this giant group of Ras reflecting on novag gr’s insights we understand the initial complexities and barriers that wants Define the crypto investment process however the narrative is Shifting dramatically with advancements and predictions pointing towards a more integrated future involving Ai blockchain and Virtual Worlds the crypto space is set to redefine financial and technological
Landscapes the Advent of Bitcoin ETFs ethereum’s significant updates aimed at reducing gas fees and the rise of prediction markets are key highlights for 2024 promising a year of breakthroughs and unprecedented growth as we navigate through these transformative times it’s more important than ever to stay informed so make sure
To subscribe and hit the like button to keep up with the rapidly evolving crypto landscape Bitcoin is always been sold not bought you had to tell someone the story they call it orange pilling I sit down with you and explain why I think it’s important right and in the long run
The technology of Bitcoin doesn’t give it its value as as wild andly cool as the breakthroughs were I could take the Bitcoin blockchain I could I could Fork it which just split it in half and call it the noo chain and it probably wouldn’t worth that much same technology
Right what gives Bitcoin its value is the social construct I say it has value you say it is value therefore it has value it’s the same thing as gold it is you know it’s not like gold has inherent value it’s valuable because we have a social construct around it it’s why it
Drives me crazy when guys like Jamie Diamond or Elizabeth Warren I was gonna ask yeah well you put Jamie Diamond Elizabeth Warren in the same bucket these days it’s kind of funny says well I don’t think it has value I’m like well I don’t care what you think because I
Got 180 million people that think it has value including Ray Doo and Jeff Yas and Pete brigger and Stan dren M and I was like i’ take their track records over yours Jamie you don’t need the whole world to think it has value you just need more people and more money to think
It has value and what I see is going to happen is every raia is going to finally say hey you should put one or two% like it’s it’s like a stock allocation and there’s a huge pool of capital that hasn’t even touched it yet and so that’s what you’re going to see
Coming through the the ETFs and and that’s that next jolt so I want to talk a little bit about some of the outflows too right there still a very volatile space so what you seeing there right with um grayscale listen grayscale had a product that allowed people access it was a
Shocking to me that the the SEC who cared about the consumer allowed that product through because it was broadly a closed end fund with no way of of of closing the discount with very high fees so consumers at times bought at a premium to the underlying uh that went to a giant
Discount and and it was a terrible consumer retail product it was a terrible institutional product uh it was a great product for hedge funds to Arbitrage right they made a fortune when it was trading at a premium uh and they made a fortune when it was trading at a
Discount and so you know shout out to the guys at grayscale for making hedge funds a lot richer but if I was the SEC why in God’s name did I approve that product and so now that you know it’s the Arbitrage is gone people are like ah
I didn’t have a grand experience mhm they have higher fees much higher fees than Invesco or black rock or Fidelity so if I’m not tax driven instantly I’m shifting over a lot of people bought the thing at a great discount they made enough money they said let me just move
On and move on in life and so we’re seeing that sure and it’s slowing down right but I don’t I don’t think any new money is going to come in a grayscale unless they do something dramatically different to rebuild trust and lower fees and I think you’re going to see that
Money still drift into the other ETFs and so that’s a whole lot of money right I mean Black Rock and Fidelity have created a two billion doll ETF faster than any other ETFs in history and so hats off right uh and so there’s no way to see this as anything but a success
But gr skills lost right you know Mike novogratz his emphasis on bitcoin’s value being a social construct resonates more than ever in today’s market dynamics this foundational belief is crucial as we witness significant predictions for 2024 including the mainstream adoption of cryptocurrencies by AI agents the emergence of prediction markets as a
Killer app and major updates to ethereum that promise to lower gas fees to under 1 cent such developments not only highlight the technological prowess of cryptocurrencies but also their increasing acceptance and integration into broader economic systems moreover the anticipation surrounding Bitcoin ETF in the upcoming Bitcoin having event underscores a pivotal shift towards
Institutional adoption making digital currencies more accessible to a wider audience the sec’s probable approval of a Bitcoin ETF signifies a historic Milestone Paving the way for ethereum ETFs and further institutional engagement these moves reflect a broader trend of regulatory Evolution and Market maturation setting the stage for a more inclusive and diversified investment
Ecosystem we started this thing with Invesco uh We’ve off to a slower start than we like to be I like to think give this six months to get their Salesforce get it on the platforms all this stuff takes so much more time than I would have thought it would or hoped right to
Get on the Morgan Stanley platform you’re it’s a whole process before they feel comfortable selling it to all their clients and I think that you’ll see that happen over the next six months and then we’ll be able to see listen Black Rock and F Fidelity are definitely going to
Be in that group who’s next you know there’s bitwise there’s Arc uh in Invesco I think us three and we’re we’re in third place right now of that second group it’s not bad it’s only been two weeks yeah the other funny part is these businesses are important in terms of
Asset gaing and but they’re not that profitable like the fees are really low and so they’re they’re great consumer products they really are great consumer products and at huge scale they’re great products for but they’re branding right but do you think that that is going to drive more retail demand in right yes
100% yeah 100% And it’s going to change the dynamic a little bit right you can get leverage on your Bitcoin ETF right now it’s just a stock and so if you’re short the Bitcoin miners versus long the ETF it’s a much more Capital efficient trade than it used to
Be right because you have it you have your assets at the same broker as opposed to youve got Bitcoin over here and and your stocks over over here and so I think you’re going to see more leverage come into the space just because one of the things that broker
Dealers do is give leverage and now they’ve got something that they’ll be able to give leverage with so where do you see growth being strongest though over the next 12 months as you forecast it out a little bit I think you’re going to see this institutional creep it’s
Going to start with the raas but listen adoption always happens in a relatively similar way you already have some early Le you know early movers in the in the pension pension World endowment world now I can say I’m not going to get fired it’s not that complex it’s it’s just
Like a stock and you’re going to see some of those guys move in and then they’re going to say well what’s next the ethereum ETF is coming so maybe I should be part of that ecosystem hey once we realize and I think one of the most important things of this ETF is
There is an inevitability that crypto is going to be part of the financial lands Cape we are going to get legislation done in the next 18 months you can talk to hakee Jeff you can talk to Tom emmer on the other side Republican and Democrat they will tell you we’re going
To get legislation done and so once this inevitability happens it just makes it easier for other people to invest and we’re seeing that already we’re seeing that our asset management business raising more Capital we’re seeing that in signing up more clients to trade with
Us uh it’s not like a gold rush to you know everyone’s running like Mania like we had in 177 and 21 but it’s better for the long run that we have this slow move of the herd and so it would be surprising to me if the crypto business
Wasn’t a lot bigger in two years than it was today well do you think that the SEC is going to approve the ethereum ETF next I think they have to like the logic on the Bitcoin ETF was and the judge was like what are you talking about you have
A Futures ETF but you don’t want a cash ETF because of some Hocus Pocus witchcraft shut up and that’s basically what the the court said to the SEC and we already have a Futures ethereum ETF and so that logic has to hold and so I think almost by definition you’re going
To see an ethereum ETF as we look towards the future novag gr’s perspective on the institutional creep into the crypto Market is becoming a reality the developments of 20124 including the approval of Bitcoin ETFs offer new avenues for investors combined ing increased accessibility with the safety net of regulatory oversight
Despite inherent risks like Market volatility and Regulatory uncertainties the benefits of such ETFs ease of trading diversification and the potential for regulatory Clarity Foster a positive outlook among investors the year 2024 is poised to be a landmark year for cryptocurrencies as we anticipate significant growth driven by institutional adoption regulatory
Advancements and the introduction of innovative Financial products the sector is moving beyond its nent stages with cryptocurrencies becoming an integral part of the Global Financial landscape this shift is not only about technological innovation but also about the creation of a regulatory framework that accommodates and nurtures the growth of digital assets
