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how's it going everyone it's Sam Larry fin just told us what he really thinks about Bitcoin now that the ETFs are approved and Jim Kramer also gave his opinion on bitcoin what's going to happen next I want to talk about that also talk about what's happening in the market we did just get a good piece of news for everyone not just crypto investors but everyone in the market I also want to talk about just why bitcoin's down a bit today if you don't mind hit subscribe turn on that Bell notification so you can see future videos just like this one as soon as I post them y it's a really great platform if you're looking to leverage everything is on screen so it's really easy to see it's really easy to set up because there's no kyc you can also refer other people I saw one person referred a friend or someone just one person and they've made $10,000 from their uh friends commissions or their parents or whoever it is so if you want to sign up there's a link to it underneath the video I would highly suggest trying it out make sure that you're in an area where you're allowed to do this also there is a link down there to HG access where you can get information that you can't get anywhere else because there are a bunch of influencers that are going to parties talking with projects all the time and then giving the alpha in there so definitely check that out as you can see Bitcoin down a little bit today over the last 24 hours down about 4% cuz yesterday morning we were pumping up around this time right around Market open now crypto in general though is uh kind of different across the board depend on where you're looking like ethereum still up 2% uh salana is down 7% cardano down 2% as well it's just kind of a it's an interesting day so many cryptos pumped up yesterday and now they're falling a little bit we'll talk about why that is exactly but I want to cover some of the news first we have news that PPI came in now this is like similar to CPI but it's a different measure I and by similar I just mean that it is an inflation gauge it's the producer Price Index which is kind of like a leading indicator like if PPI goes down we expect CPI to go down later because if it costs less for people to produce products and it's going to cost less to end consumers we had PPI come in at negative .1% month over month which is lower than the expectation of.
1% month over month PPI core was 0% month over month and the expectation was. 2% PPI overall was 1% as as opposed to the expected 1. and PPI core was lower than expectations as well so across the board whether it's PPI or PPI core we are going lower which is really good because that basically means if there's less inflation the FED is more likely to cut rates the econom is likely to stay um pretty strong and then we'll also see an influx of capital into riskier assets If the Fed starts cutting rates because people won't be gting 5% on a savings account or treasury so they'll go move it to stocks and crypto and that kind of stuff we also had all the crazy ETF news yesterday multiple companies saying that they weren't going to list ETFs because they're too volatile or they're not passing their compliance stuff like that that I think is part of the reason we didn't see as much in in inflows as we were expecting yesterday for Bitcoin and some people are wondering like okay this ETF got approved why is the price not moving up and keep in mind that there are some people that just were waiting for this to happen then took some profits maybe they bought at 30 or 40K or something like that but we did have some new money for example black rocks ibit ibit uh pulled in 111 million in new money but the data is delayed also we did have a lot of people that were selling gbtc they were buying other ETFs so there is sometimes a delay there as well when you sell one maybe they offload the Bitcoin coin but the new company doesn't get the Bitcoin right away uh we also know that a lot of it's just bought OTC so this is the crazy thing about crypto we can have billions maybe tens of billions of dollars of Bitcoin bought without it affecting the price in the short term the reason is because they might go to someone like coinbase and say hey will you offload some of your Bitcoin that you hold and we'll just buy it for this flat rate so there's no there's no one like selling it on the market um or in order books there's no one buying in order books so we don't see the price action right away but coinbase had a volume of $7 billion worth of bitcoin yesterday it wasn't in my opinion it wasn't a bunch of people going to coinbase and saying hey let me sell to you it was a lot of people saying hey let me buy let me buy from you a bunch of Bitcoin because I have these investors that want it or even like Black Rock goes to them and says hey we had this much in inflows we need this amount of Bitcoin can you get it to us um OTC I think that eventually we will have just this moment where we don't have enough Bitcoin left for them to continue to sell OTC for example bitcoin's priced right around $45,000 right now $46,000 we have about 2 million Bitcoin on exchanges uh a little bit less a little bit more depending on where you're looking that means we have about $90 billion worth of bitcoin well what happens when it runs out what happens when that 90 billion runs out or it just gets cut down enough where people start saying okay I'll sell it to you OTC but I need a higher price well if they overcharge them too much then they'll just go and buy off the market so that starts pushing the price up when there's not enough Bitcoin to go around or some whale comes in some billionaire and says I just don't have connections to OTC I'll just buy 10 million 20 million 100 million 500 million just off of coinbase or something that sends up the price pretty quickly so if there's this demand if there's all this demand and there's a supply issue the price will move move up it's just a question of when it's not a question of if also we did get some free advertising on bitcoin let me play this for you this is from Larry fin the Black Rock CEO Black Rock if you don't know if you haven't been paying attention they have 100 uh uh they have1 trillion in AUM assets under management so they run a lot of money they're the biggest institutional manager in the world for money let me play this for you I believe you know I believe it goes up as if the world is more frightened that people have fearful of geopolitical risk they're fearful of their own risk um it's no different than what gold represented over thousands of years it is a it is a it is a asset class that that protects you and and unlike gold where we manufacture new gold we're almost at the ceiling of the most of the amount of bitco be somebody like I mean when you hear somebody like Kathy Wood yes who was on our broadcast yesterday say that her base case base case is that this turns into a $600,000 of Bitcoin valuation base case and a a you know million plus um in a in a super optimistic case are you anywhere in her realm I haven't thought about it to me that what we are trying to do is offer an instrument uh that can U that can store wealth I think if it gets that even close to that high gold will represent even a bigger value and and and and let's be clear if you think of digital gold there's going to be a reference point between gold and Bitcoin so pretty interesting there he does lay out the fact that there's a fixed supply of Bitcoin you can't increase the supply if they're selling for a lot right unlike gold he mentions that um it does protect you like gold I'm not so sure about his argument where he says that uh basically if there's a lot of economic turmoil or turmoil in the world people will go buy Bitcoin we saw that a little little bit with the banking collapse this year where bitcoin's price went up during that banking collapse a lot of people said oh you could have stored some of your uh payroll money in Bitcoin and then you could still transact even if banks were down but I don't know about that argument typically we don't see that happen if something happens globally that's really bad for markets typically Bitcoin falls down as well cuz everyone just takes their money out or sells they think a crash is coming I will say he I think he's smart for not going into massive bullish price predictions Kathy Wood does it that's kind of her brand but black rocks uh brand is not to go pump up their assets they own so many assets they can't do that um and it I think it's smart for him to be a little bit cautious I am interested with how he phrased at the end saying if Bitcoin got up to $600,000 approached Gold's market cap that he thinks Gold's market cap would be much higher and I'd be interested to hear his actual thoughts on that as to how much gold goes up because right now bitcoin's won 13th 11 14th the market cap of gold I think if Bitcoin approached Gold's market cap of let's say six let's say gold was still the same price but Bitcoin um went up to $600,000 uh I I do think gold would move up in that time span that Bitcoin moved from 45,000 to 600 ,000 but I'm not so sure it would move up an equivalent amount I'm I know it wouldn't move up an equivalent amount maybe gold increases by 50% and Bitcoin increases by 1,000% or something like that I do think eventually Bitcoin will grow to be the same size as gold or very nearly close um I do think as time goes on when assets when let's say Bitcoin goes up it would make sense that gold would go up as well just because part of the reason bitcoin's going up is because of INF inflation but also we've never had a fixed Supply so I do think there's that inflection point where some people even if most people on Earth don't think bitcoin's more valuable than gold or more useful we could still cross that Mark where Bitcoin is worth more than gold because again there's just a fixed Supply So eventually the price pops right so that is most of what he said um there's also this let me put this the currency ETFs meaning do you think that Gary and we'll talk to him later Gary will have to approve an ethereum ETF and is that a function of something the SEC has to do or do you think that all these things have to go to court first I couldn't respond to that I I I see value in having an ethereum ETF as I said these are just start stepping stones towards so kind of quiet there apologize for that I turned up as loud as I could but he does see value in an ethereum ETF basically what they're trying to do is make money on fees and I've done a video talking about why they want these ETFs of course there's capital appreciation they want to provide these services to more people and uh provide direct exposure to this asset class they probably are bullish but also they want to make a a lot of money from the fees the spreads all that stuff and they will make a ton of money from that so they're they're going to be advertising Fidelity is going to be advertising everyone is going to be advertising it's going to be a mad brawl and even though we're not seeing the price go up right now the fact is a lot of this is being done OTC so a lot of these entities are going and buying OTC from coinbase uh people are selling their gbtc to get into these ETFs which is kind of an interesting thing like if you sell your gbtc your grayscale which is where the majority of volume came yesterday it's probably selling volume to get into some of these other ETFs but if you sell that and then they go sell the Bitcoin but then Black Rock goes to coinbase and says hey I want this Bitcoin OTC well then Grace scale is dumping the price and then Black Rock isn't necessarily increasing the price in the short term so that could be some of the reason you know that we haven't seen a huge increase in the price for Bitcoin but longterm you have to remember this is the best performing asset we are in the first of three years of a bull run this is what we've always seen in the past one down year three bull years one down year three bull years one down year three bull years now we're one down year year in we're one year into the bowl Year we're probably going to have another great year this year plus we do have Jim Kramer talking about how he's seeing a major top in Bitcoin major so if you aren't bullish for the next year I don't know uh I don't know why Jim Kramer is always wrong he's always inverse to what actually happens the funny thing is though he's changed his mind so much this week like if you're bullish on bitcoin usually your bullish longterm of course you could be bullish shortterm on the price action but he's always saying he's bullish or he's bearish back and forth and he's not clarifying like long-term I like Bitcoin but shortterm he's just thinking that there's going to be a top or a bottom or top bottom back and forth back and forth anyways let me know your thoughts underneath the video thank you so much for watching you can check out the links to Marx and HG access underneath the video I'll see you in the next one bye
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