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Good morning, afternoon, or evening, ladies and gentlemen. All in crypto here, and welcome back, guys, for what's going to be nothing short of another jam-packed daily market update on this smashing Sunday. Hope you guys missed me yesterday. I definitely missed you guys. Had a little bit of personal things to take care of.
However, we're back, hopefully, with a bang. We're going to talk about how 7.2 trillion dollars is about to come on chain, and it's all part of a broader plan to democratize US debt and ensure that the dollar remains dominant through being exported to the world through the issuance of stablecoins that are backed by debt, solving two issues, the US debt issue to a degree.
Doesn't solve it. It certainly postpones it by introducing and democratizing those markets to the broader world. And it also maintains dollar dominance, because if you have a country and this is part of a broader dollar milkshake theory whose currency isn't doing too well, well, the dollar may serve as a decent store of value.
And then we'll be pivoting onto Bitcoin as a store of value, recapping on what Larry Fink had to say in regards to his 500 to 700,000 potential prediction based on global acceptance of Bitcoin as a kind of hedge, if you will. And then we'll talk about how Bitcoin is only 0.2% of global wealth. Also, Fidelity, big player, now has filed for a Solana fund.
And this was Thursday, I believe. We're now seeing big institutions bigger than what we've previously seen actually move into this. And and next will be BlackRock with XRP solid ETFs, etc., etc. Then we'll talk about the weekend and finish things off with a little bit of price action. So, as always, guys, hell of a lot to get into.
Let's kick things off with a 7.2 trillion-dollar wave of liquidity that's coming to the cryptocurrency space. Fidelity files for on-chain US Treasury fund, joining the asset tokenization race. This is from CoinDesk. Tokenized money market fund has grown sixfold in a year to 4.8 billion, currently led by BlackRock's product.
And to pivot onto that, this is BlackRock's BUILD fund. They now sit at 1.2 billion dollars. The majority of this being tokenized on Ethereum. Also, Fidelity, I believe, are tokenizing on Ethereum. Ethereum has the lion's share of tokenized treasuries. I think over time, certainly as the space becomes interconnected, these asset managers won't need to go for where the liquidity is and the kind of um sort of older chain, if you will.
They'll be able to sort of experiment. And I think there's far better chains like Hedera, um like Stellar, like XRP, where you could actually enable the tokenization of treasuries. Now, this is a big deal for a big reason. We'll talk about that in just a second. Fidelity Investment has filed to register a blockchain-based version of its US dollar money market fund, joining the race of tokenized assets.
The filing said the fund currently uses Ethereum network and may expand to other blockchains with the product expected to become effective on May the 30th, pending regulatory approval. Fidelity manages 5.8 trillion in assets. It's the latest financial heavyweight entering the fast-growing tokenized US Treasury space, which has grown almost 500% over the year.
The US-based asset manager, Fidelity Investment, has filed, etc., etc. We don't need to go into all of this. But this is a big deal, because today, if we're just talking about money market funds, there's 7.2 trillion dollars in there. And this money is going to be brought into various cryptocurrencies, their ecosystems, and ran upon them for the same reasons that we don't send Some people send letters, you know, if it's it's a birthday card or something like that.
But we've gone from sending letters to emails. We're going from traditional kind of web 2-enabled systems for finance to web 3-enabled systems. And that transition is happening and is actually being adopted by the US government. And the chains, and this is why I bring all this up, that are going to enable that, both stablecoins and tokenization, are going to have, potentially, how valuable is a is is a chain where um the very bedrock of the US's financial system is ran upon?
You know, it's exceptionally valuable. Not to mention everything else that these chains are essentially going to enable. But this is a big one. This is a clear trend. This is something um that I wanted to talk about, because there's still a lot of pessimism as it relates to the cryptocurrency space.
It's our opinion that it's unwarranted and very much based on price action and what's happening more broadly with the macro picture, which I think is a good one, in my opinion. I'm far more of a fan of Trump-onomics than most people are. Um I think it's going to do more good than bad from an economical standpoint.
But there's teething problems as that change occurs. And actually, if you look at every um from the inauguration period onward, so we're talking January, February, March, typically, if you go back historically and look at every new presidential term kicking off with that inauguration period, going back to 1985, and this is one of my Patreons, there's always this lull in period of congestion with the uncertainty of a new regime before the broader continuation for markets.
And and that's coming, guys. And highlighting this sort of 7.2 trillion dollars, and we're seeing all the signs of big players, the largest in the world, moving towards this, coming on chain, I think, just is a real exciting prospect. And the enablers of this, and we can find out who's enabling it already and and and who's sort of gaining momentum, you know, that's a fantastic opportunity.
Not to mention how this opens up avenues for DeFi and all these other areas. What I want to do now, talking about BlackRock and what they're kind of doing, is go back to what Larry Fink had to say on Bitcoin. Now, this is quite an old clip that's resurfaced on Twitter. But it highlights the more broad trend that Bitcoin is on, because Bitcoin currently accounts for 0.2% of global wealth.
So, a fifth of a percent. That's going to drastically increase, in my opinion, for the reasons Larry Fink. And they're now actively pushing this, just like they did with gold or or or or, you know, when the S&P 500 got an ETF. Bitcoin is on that similar trajectory, and it's very early in that. And how high its price can go, well, Larry Fink perhaps speculates in this clip.
So, let's go ahead and play this. If you're frightened of your debasement of your your your currency at your or you're frightened of your economic or political stability of your country, you can have an internationally based instrument called Bitcoin that will will overcome those local fears. And so, I I'm a I'm a big believer in the utilization of that as a as an instrument.
And so, if that becomes true and you want to and you see that it it it it it is um it could be a proper hedge against maybe hope securities or equities. The question is, could you see a 2 or 5% allocation? I was with a sovereign wealth fund uh during this week, and that was the conversation. Should we have a 2% allocation?
Should we have a 5% allocation? If everybody adopted that conversation, but you know, it would be 500,000, 600,000, 700,000 per Bitcoin. Well, there's There's also I'm not promoting it, by the way. So, that is not my promotion or So, I just want to emphasize what he said there at the end. That's not his sort of you know, he's not saying it's going to get there.
He's saying if these asset managers and funds actually decide to adopt Bitcoin, and and and Bitcoin's proven the equation that it's an it's a certainly investable asset thus far. Let's pull this up. So, this is um sort of a uh uh uh uh uh a graphic, an infographic, highlighting Bitcoin's size in regards to or share in regards to market cap, I guess, in regards to overall global wealth.
And it sits at 0.2%. Now, the real estate market is 330 trillion. To stick on the theme of tokenizing real assets, a lot of that might be represented in regards to digital assets. The bond market is 300 trillion. A large part of that, I believe, is coming on chain. Money itself is 120 trillion. Remember, this is global.
Gold's market cap is 16 trillion. I believe that's gone up. Art is 18 trillion. Equities is 115 trillion. And Bitcoin is 2 trillion. However, the addressable market for Bitcoin, potentially, is 225 trillion, assuming a 50% market share of store of value assets. Now, I don't believe it's going to get to 50%.
This is an interesting chart, but what it is highlighting is, furthermore, what Larry Fink had to say about the exciting prospects of this new asset um continuing to gain global adoption. And certainly, when I look at Bitcoin from a price point of view, I believe this is coming, guys. You know, my my Bitcoin play is miners.
They've been having a bit of a turbulent time, but I do think they're going to turn out to be very well. My largest stocks that I hold, the largest stock I hold is a miner. Second, I think, is Coinbase. We did very well on that and are still doing well. And then, you know, we've got another couple of miners that I sort of share with Patreons.
Although, I've said that I own, obviously, um Hut 8 and um Terawulf previously. And miners don't look bad really at all. But Bitcoin doesn't look bad, either. We still got a concession of higher targets. I think the trend for Bitcoin really does continue. Let's talk about a new ETF filing, this time from Fidelity.
And this is significant. This took place on the 20th of this month, so a Thursday, or the Thursday just gone. And what we're seeing is big players now enter the space. And this is from Nate Garcia, um who is a great guy to follow by the way. He also predicted and we looked at this that BlackRock will file for both the Solana and XRP ETF soon.
And I believe so. Certainly what you've now seen is that regulatory hump be overcome in regards to the XRP um sort of lawsuit. Let's talk about the week ahead because there's lots of uncertainty economically. Will we get any clarity on it? Well, I don't believe so. In fact, if anything, there might be a little bit more pessimism thrown into the mix with the likes of US PMIs on Monday expected to come out lower than the prior.
Down from 51 to 49.5. Remember, we are expecting a boom in economic cycles. We've got UK PMIs. Um these have actually risen. Um I I was actually kind of interested. I was looking at sort of demographics of wealth. Germany is the third biggest economy in the world. I really underestimated where Germany would be and way overestimated where Britain would be.
You know, we are a shambolic case to say the least. Um Tuesday, we've got US CB consumer confidence. This is likely to come out not as not not horrific, but slightly down. Then we've got UK CPIs. We've seen a reduction of inflation to 2.7% from three previous month. And that's for the year-on-year stats.
US durable goods, US crude oil inventories, then we've got US initial jobless claims. Going to be interesting this one. And then US PCEs which are expected to rise. Um So, we'll see what happens. As far as Bitcoin's concerned, this is just a pullback. You know, if I take all the draws off this in what is a broader uptrend and this is a great place for it to bounce and I do think you're um going to see that in a short succession of time.
So, do not fear, guys. All in crypto is here. All is good when it comes to the cryptocurrency space. Um despite the lackluster price action, brighter days are ahead of us. And it's for reasons like what we looked at at the start of the video. You know, $7.2 trillion is very identifiably going to transform from how it's enabled traditionally to the cryptocurrency space.
That's bringing $7.2 trillion on chain. There's a far more addressable bond market out there, 300 trillion. Um you know, talk about the tokenization of real real estate. Shout out to Red Swan. They're a great company doing that with billions on chain already and they're utilizing Hedera. Um you know, etc.
etc. Everything is going to be digitized, put on chain, and the blockchains that enable that world are going to be the kind of unicorns of tomorrow. Certainly the companies that have relevance with that. That's it for me, guys. I'm going to love and leave you. Thanks everyone for watching. See you all in tomorrow's daily market update.
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