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so many institutional investors are now looking at Bitcoin and thinking breaking news Kathy Wood and Ark invest say Bitcoin hits $1.5 million soon this is based on their extensive research smash the like button send this video to one friend who needs to see it this is the recently published Big Ideas report by 2030 Ark invests expects Bitcoin to hit 300K bease 710k base case or 1.5 million dollar bull case and this is not even as big a deal as what Jerome poell and the Federal Reserve just said about crypto but first listen to Kathy Wood she thinks $1.5 million Bitcoin in 5 years is even more likely now here's why we jog over to another part of uh the big ideas that I know many people uh enjoy and that is about uh crypto assets or digital assets uh and you'll see how we get to our base case for the Bitcoin price and our bull case many people know us for our bull case $1.5 million and we actually think the odds have gone up that our bull case will be the right number uh because of what is becoming the institutionalization of this new asset class so many institutional investors are now uh looking at Bitcoin and thinking that they need to add it to their asset allocation uh because its return profile looks so much different and its risk profile looks so much different from all of the other Assets in their portfolios so what do you think is more likely in 5 years Bitcoin to 300K in 5 years Bitcoin to 750k in 5 years or Bitcoin to $1.5 million in 5 years you can see here how she gets to each number comment what you think is most likely it seems like everybody is waking up to the things that us and Michael sailor have been saying for such a long time that this is a revolutionary technology like nothing before it's not that hard to see that this is a 25 to 50 trillion dollar a year problem for anybody with assets on Earth it's very rare that you find a technology that's the solution to every rich person's problem and every poor person's problem simultaneously either way smart money knows that this asset class is going up so you know so many things could come next salana ETF cardano ETF xrp ETF there's a lot of exciting things on the horizon we keep you updated on a daily basis make sure you subscribe especially as Jerome Powell the Federal Reserve chair now seems like he has such a positive opinion on bitcoin and crypto and Banks getting involved he's been speaking speaking on it so much first let's start with this clip this clip is actually more bullish I think than what was originally reported the fact that he says Congress is working on rule changes right now do you see any value or benefits in the US government building a reserve of Bitcoin so you know we uh we're not allowed to own Bitcoin uh the Federal Reserve X says what we can own and we're we're not looking for a law change that's the kind of thing for Congress to consider but we are not looking for a law change at the fed and then he later goes goes further clarifying his opinion saying we think it's fine Banks getting involved in crypto that's totally cool our role with Bitcoin really is to look at with crypto really is to look at the banks and and you know we we think it's you know banks are perfectly able to serve crypto customers as long as they understand and can manage the risks and it's safe safe and soundness many of our a good number of our banks that we regulate and supervise do that denied fully any questions pertaining for his support of a cbdc or the fed's support of a cbdc he says he agrees with Trump no cbdc you said yesterday that as long as you're chairman the US will never have a central bank digital currency is the Federal Reserve or any of its member banks currently conducting any studies on cbdcs either for retail or wholesale purposes I mean we're not doing any work that is designed to lead to a retail cbdc that's just that's not happening when we don't we don't support one we don't have legal authority to do one so no the notion of a wholesale cbdc is really not one that we think about or accept you know we we have take fedwire fedwire is a real-time you know digital uh process of trillions of dollars every day between between Banks is that a cbdc some people would say that's time has expired so thank you chairman I back and then at the financial services Committee hearing from the other day he was asked again they give him every reason to FUD the crypto industry in this clip based on the way they set up the question instead of futing the industry he draws a Line in the Sand he says crypto is here to stay and we're okay with it with that spread and expansion of crypto and the president is 100% behind it he just started his own meme coin he's making making a lot of money off of that which is another issue my concern is that the spread of an expansion of crypto will infect the traditional banking system because it's it's a volatile speculative asset and uh we we've seen some very sudden disasters with crypto I'm just wondering are there any back stops that we can use any firewalls that we can put in place that might insulate the traditional banking system you know because they have access to the discount window and the FDIC insured so there may be you know second order impact if we have a collapse of a major crypto issuer are there any extra things that we can do to protect the traditional banking system yes so um first I would say um there really two things that are happening one is banks are serving crypto customers and we don't want to get in the way of banks serving perfectly legal customers as long as they understand the risks and that sort of thing we don't want to single out any particular you speaking to custody well custody is more the second thing is undertaking activities on their own right and in that case I I do think it's appropriate to uh to to you know as usual as Bank supervisors make sure that that that we understand and Banks understand the risks that are involved in the activity that they're taking inside an insured depository on the other hand you don't want to go too far you know I think there were a bunch of disasters as we all remember and you know we don't want to and we were reacting to some extent to those you don't want to go so far as to to you know overplay your hand on that so I think we need to be mindful that many of these activities can very well be done inside of Banks and custody May well be one of them in fact in fed regulated Banks there are lots of crypto activities happening now they've just happened under a framework where we made sure that the bank understood and we understood exactly what they're doing right understand this guys there are only 140,000 Bitcoin left on the OTC markets if micro strategy makes three more purchases all OTC Bitcoin is depleted if the ETFs accumulate as much as they did in January OTC Bitcoin is depleted if the US and 15 plus US states begin to buy Bitcoin you have no idea there's almost no Bitcoin left even for institutions so for us who have Bitcoin who could sell at what price do you think it'll be worth it for us to sell the majority of our Bitcoin it have to be pretty high I think crypto has entered in this whole new era of adoption I think think quality projects will continue to rise to the top or actually maybe even a multitude of projects because we are in a new era Hester Pierce says the SEC has no business investigating meme coins this is a total 180 from Gary gansler commissioner does the president and first lady launching their own meme coins make your job more difficult um you know I think we one of the things we're trying to do is look at categories of tokens that are out there um there are lots of people who are introducing meme coins right now facts and circumstances matter we always have to look at the facts and circumstances but many of the meme coins that are out there um probably do not have a a a home as in the SEC under our current set of regulations um and so again if that's something that Congress wants to wants to address there they they can do that maybe that's something the cftc wants to address um but many of those I think probably are not within our jurisdiction so right now the crypto are and his crypto counsil are working their butts off in Washington and he says that they plan to be done with all of this in 6 months so I'd expect laws to be passed based on their findings 3 to 6 months after this it's an amazing time to be in crypto right now and know what we know all while the market is in a dip so many altcoins haven't even pumped yet guys if you've been with us for a while or if you take the time to study and you zoom out and have long-term thinking how can you not be bullish subscribe to our Channel if you're interested in making money in crypto we keep you updated on the entire Market on a daily basis now is the time to get involved my friends now is the time to get involved see you tomorrow
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