This Is Your LAST CHANCE to Buy “Dirt Cheap” Bitcoin in 2024 – Michael Saylor & Eric Balchunas

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Credit: Bloomberg Television
Bitcoin ETFs Opened a Gateway for Capital: Michael Saylor

Credit: The Rational Reminder Podcast
Eric Balchunas: Spot Bitcoin ETFs | Rational Reminder 293

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Spot ETFs have opened up a Gateway for institutional Capital to flow into the Bitcoin ecosystem the demand uh for the spot ETFs especially the new ones net has been far in excess of the supply from the miners every day in some cases up to eight to 10 times as much demand

As Supply every day um this is uh this is a rising tide it’s going to lift all boats micro strategy has got a levered uh operating strategy for Bitcoin Co but um if you look at what these spot ETFs are doing they’re facilitating the digital transformation of capital and

Every day hundreds of millions of dollars of capital is Flowing from the traditional analog ecosystem into the digital economy Michael sailor is the founder former CEO and executive chairman of micro strategy a business intelligence mobile software and cloud-based services provider micro strategy holds the prestigious status of being being the publicly traded company

With the largest Bitcoin holding on its balance sheet since the software firm adopted its Bitcoin strategy in 2020 it has been gradually increasing its Bitcoin Holdings which has gone from the initial 2,454 Bitcoin purchased for $250 million in August 2020 to approximately 190,000 Bitcoin with a total purchasing price of

Approximately $6 billion during a recent interview with Bloomberg sailor the the firm’s founder and executive chairman reiterates the firm’s resolve to keep buying Bitcoin despite the new competition from the nine spot Bitcoin ETFs Black Rock Fidelity and other members of the newborn 9 now hold over 200,000 Bitcoin while sailor recognizes

That the increasing demand will make micro strategy’s Bitcoin purchases more difficult he is extremely appreciative of how much it would impact prices with 10x more demand than Supply rapidly depleting bit Bitcoin balances on cryptocurrency exchanges and a having event due in weeks sailor has become even more bullish on Bitcoin in 2024 we

Will now bring you more clips from sailor’s latest interview with Bloomberg as well as clips from Bloomberg ETF analyst Eric balunis interview with the rational reminder podcast both men seasoned experts in their respective Fields discuss the importance of the Bitcoin ETFs and how they expect them to impact Bitcoin prices further in 2024

And Beyond please ensure you watch the video to the end so you don’t miss any important information from Sailor and belunas and if you want more videos like this please give this video a thumbs up subscribe to the channel and turn on post notifications for more videos like

This thanks and enjoy the video at any point would you sell when would it make sense to take profits there well I I famously said I’m going to be buying the top forever uh Bitcoin is is the exit strategy it is the the uh strongest asset so what we see right now

Is the Bitcoin has just emerged as a trillion dollar asset class and it’s alongside uh names like Apple and Google and Microsoft but the difference between Bitcoin and the Magnificent 7 is Bitcoin is an asset class it’s not a company there’s not enough room in the capital

Structure of those companies to hold 10 trillion or $1 trillion worth of capital so bitcoin’s competing against gold which is 10x what it is is right now it’s competing against the S&P index it’s competing against Real Estate A1 trillion dollar plus asset class as a store of value so we believe capital is

Going to keep flowing from those asset classes into Bitcoin because Bitcoin is technically Superior to those asset classes and that that being the case there’s just no reason to sell the winner to buy the losers despite not being a prominent Bitcoin investor or Advocate like sailor senior Bloomberg

ETF analyst Eric balchunas is also quite appreciative of the Bitcoin ETFs and how excellently they’ve performed since launch balchunas and his Bloomberg ETF colleague James saart did an excellent job tracking the ETF applications last year before the SEC finally gave the green light on January 10th since the bitcoin-based exchange traded products

Started trading they have continued to give regular updates about their performance especially how these products compare to existing ETFs and those that were also launched in January 2024 in one of his latest updates on Twitter balunis noted that of the 65 ETFs launched in January all Bitcoin

ETFs make the top 20 with black rock ibit Fidelity fbtc Arc invests ARB and bit wise’s bitb leading the pack even more amazingly Bitcoin ETFs made up only 14% of the 65 ETFs launched but had over 83% of the total AUM at the time time the post was made in his interview with

The rational reminder podcast baluna speaks further about the success of the Bitcoin ETF launches and what having such products means for Bitcoin here are some clips from the interview if you isolate the newborn 9 away from gbtc anyone in their mother would be like holy moly I mean it’s literally the most

Successful launch of all time I mean there’s let’s say there’s 20 stats you could use this like this would be 15 like it would be number one on 15 category the momentum these things have early on is very positive and you you you know the black Rock’s got advertising

Campaigns Larry think is out there saying this is a new asset class Fidelity is involved I mean that’s all you have to do is just sort of trust Behind these people who have strong reputations for successful products um give it time and these products already have two things that you need for

Foundational ETF category growth volume and low fees those are the two most important things for the fish to come bite so institutions like volume advisors like low fees and they each both like some of the other they have both in Spades so the stage is set the

Wholesalers are going to do their thing and just wait so anybody out there with the underwhelming take I just think is going to look like an idiot somebody asked me earlier in an interview how many of these will be here next year I think all 11 I think all 11 now what you

Could find is some wacky things come out that come in and close within a year you could find something like um carbon credits plus Bitcoin you know or uh two 2.2x leverage Bitcoin they’re going to throw a bunch of crap at the wall some of that will just fall instantly into

The gutter um couple things will make it but my guess is these original 11 will be here in a year H black rock or Fidelity there’s only really room for one liquidity King and they’re both trading about $2 $300 million a day so it’s interesting normally the first one

Out liquidity King because they had the market for this is a Race So I’ve never seen a tie like this so close I do think I Shar is probably edges out over the next year I’ll tell you why because fidelia doesn’t really have any big

Liquid ETFs I has like 50 of them and they’re known amongst the trading crowd and the institutions so I think their branding and work in this area will pay off in the end and I think ibit becomes like the big one with the most volume and the options activities around it not

To say all the other can’t be big make money and have a great life but I think iid’s probably um you know two to one odds at this point so the heavy favorite to be the liquid one you know that if you’re a pension plan and you need quick

Exposure you would use that even if there’s one five bips cheaper they’re like I don’t care the liquidity is most important to me what do you think being allowed in an ETF rapper does for Bitcoin I mean look this is like you know my one of my metaphors is when the

Beatles went on iTunes um you know the Beatles held off they wouldn’t go on iTunes for like five or six years as iTunes got popular um so younger people would not listen to The Beatles I mean it was that simple uh they finally went on and all their

Albums went to number one Ian it was like just like that everybody bought their album so this is a similar thing I think instead of it’s just reversed it’s the older people who will think about buying it just because it’s is an ETF rapper the SC approved it etf’s got a

Prospectus they’re all 100 Pages a lot of legal lawyers black rocks trusted that’s what it means it’s now in a trusted environment um and ETFs to me are bridges they are bridges from any world and they’re convenient so they’re convenient they’re cheap they’re easy to trade they’re on every bro exchange

They’re convenient uh I said that twice uh oh that’s convenience is a very underrated benefit of ETFs any business you make something convenient people will buy it I mean there’s single stock ETFs think about that like that shouldn’t sell but the one of them has over a billion dollars I’m just telling

You man you know you make something just an inch more convenient and and people will buy it but’s lazy so I think in this case you got the lazy factor and this is really a pain in the ass uh to go do Bitcoin for most normal people

They just don’t want any part of the wallet and all that stuff so this is what that means it it puts Bitcoin into uh the preferred vehicle and as Michael sailor called it the plumbing of the traditional Finance world and that is powerful during the interview balchunas further explains that ETFs

Have become really popular among wealth advisers and investors primarily because they offer more convenience and are easier to exit than other Financial Vehicles like index funds and traditional mutual funds they are also more tax efficient which is why more than half of financial advisers say they now prefer ETFs over mutual funds

According to a late 2023 survey from ISS Market intelligence survey research Eric notes that Bitcoin ETFs are even more powerful because they represent the merging of the traditional Finance world and the rapidly developing digital economy let’s get back to the interview as he discusses the impact of this

Merging of Two Worlds that previously sought to remain separate and completely distinct I’ve been thinking about this because when the filings first came especially Black Rock I’d see my comments like you could see it between people and within a person there’s the devil and angel it’s like number go up

Yay Larry thinkink then it’s like wait a second do we really want to hand all over Bitcoin over to Larry thinkink right so don’t know man I’d almost turn over to you but I I do I do think that the mainstream ification of Bitcoin um is probably necessary if you do want

Some growth on the price so the ETF I think can jump start a lot of good things that will help it be a very uh consistent asset class now the more more it gets legitimized and mainstreamed does it lose its appeal amongst those who like that it’s punk rock and like

That it’s outside of the system and a little bit of a middle finger you know I always thought if Bernie Sanders won would Bitcoin be as big because you know you got the same kind of politicians from both sides generally you know a lot of things run the same way but Bernie

Was like I want to upend everything and bitcoin’s a little got that Vibe right it’s outside of the whole system it’s not like messing it up from the inside it’s like outside whereas uh you would say the current politicians are like let’s make incremental changes from the

Inside and so to me going into black rock and and these companies is a little antithetical to that Outsider thing um but it would again if your goal is to have it grow and be legitimized and you know have a chance at being a currency because a currency I don’t think can be

That volatile right so this could also bring the volatility down if you have uh more people buying and hold holding less less um you know more people into it uh it could help with the volatility as it matures so I don’t know is the answer

But I will say when you see Larry fin going on Fox and saying I love this by the way he was like he’s being asked like what by Andrew Ross cirin like what’s what what’s what’s the pitch here what’s he’s like you know if you don’t trust your government I was like wow

This is but this this is crazy so this is going to take us a couple years and I think we’re going to look back and go how Wild was that like those moments were like the early days of this whole thing because and then and then the same

Day you see a clip of Jamie Diamond calling it a pet rock and that is just fascinating to me that’s why I spent so much of my mind on this is because even though Bitcoin ETFs probably make up 1 to two% of all ETF assets eventually which is pretty good we’re talking 100

To 150 billion um I spent a lot of my mind on it because of the fascination factor is a 10 out of 10 I mean I mean it’s just it is so it is so unique and there’s two worlds colliding trafi defi but also culturally there’s a cultural

Collide and a generational Collide and I feel as a gen xer I I’m I’m generationally in between all of those worlds and so it made me feel like I have an interesting vantage point to work on this um and and James as well he’s a little younger he’s probably more

Into crypto I’m like a little Boomer more Boomer he’s a little more crypto is but the two of us together could go in between the worlds and it’s really interesting and honestly I think um one of the things that I thought about the crypto world I like so much was the

People and the meming and the sense of humor and I really think that uh trafi culturally could benefit a little you know from this world and obviously there’s certainly things you could benefit from with the blockchain but just culturally um and just learning the skepticism that younger people have for

The 6040 CU I still love the 6040 I think both worlds can learn from each other I guess that’s my point sailor and belunas have the same outlook on bitcoin ETFs and how much impact they have had and will continue to have on bitcoin prices and the overall digital assets

Industry in the coming months and years sailor in particular believes the increased demand which will be further exacerbated after the Hing in April will have a huge impact on bitcoin prices which will only cause more demand and great of price increases for the leading digital asset please share your thoughts

On their Outlook and predictions in the comment section below also Ure you like this video subscribe to the channel and turn on post notifications for more videos like this thanks for watching