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How are you, people? This is Sam. Larry Frink just said something really crazy, and many people took it the wrong way. Um, and it's actually bigger than people think. I want to explain what this is about , because it's just crazy. This is really strange. And this means that Bitcoin will grow significantly.
If it's not too difficult, subscribe to see future videos like this. Under the video there is also a link to Margex, where you can start margin trading . I said it was a great time to trade on margin when we were in the 60,000 range. I opened a lot of trades . This is after taking profits when Bitcoin fell to the 50,000 level.
And yes, we have grown by $10,000 since then. People who bought even here got a good result. If you want to trade with leverage, we've gone down a little bit—that's when I like to trade when we're at support levels, previous supports, which is where we are right now. I hope we can turn resistance into support when the situation becomes clearer after next week's elections.
These are going to be crazy times. There is a link to Margex under the video so you can start trading on your own . So, I watched a video from Money Rules Investing Tips where he talked about this. It turns out that some companies are buying airspace rights over other buildings. Honestly, I didn't know such a thing existed.
I did n't know what to say, "Oh, the building next door only has four floors." "We want to buy everything above it, and we will pay you this much." It is obvious that space in big cities, like real estate on the coast, is limited. Therefore, some people buy development rights over this property. It's really an attack on, you know, these limited resources that we have.
Like, how do you create more? Well, you could literally just buy up the airspace rights over smaller buildings, right? You can build more real estate near a river or ocean. We've seen this in Dubai, where they're literally washing up islands in the shape of palm trees to build very expensive homes, costing millions of dollars, but Bitcoin remains limited.
And I thought: okay, what is the equivalent of buying the legal right to the vertical space above the objects? How to get future Bitcoin? I thought: maybe someone could buy future Bitcoin from a miner. You sign a contract with someone and say: you know, we know that you mine 30 bitcoins a day. We will pay you 100 thousand per bitcoin to mine it for us.
And then the miner can say, “Okay, great. Um, depending on the contract, we might want to do that. We may not want to do this. Maybe they'll say, "Well, you're going to do this, and you want to buy, I don't know, 100,000 bitcoins from us, or 50,000 bitcoins from us. " If we sign this contract, maybe in a year a bitcoin will be worth 150 and our costs will be 120, but we will still be obligated to sell you bitcoins for 100 each." Maybe some would go for it, and some would n't.
It seems that there are futures contracts of this type with various commodities. But I really thought about the fact that there are only 1.22 million bitcoins left now. 1.22 million. So, 94.6% of the supply, I believe, has already been mined. This got me thinking: okay, BlackRock could just say, “We can’t buy enough Bitcoin, right?” The stock markets will empty.
MicroStrategy is going to buy. Maybe Microsoft will buy. Tesla will buy. Everyone will buy Bitcoins, and eventually you won’t have anyone left wanting to sell, right? Maybe they'll sell for 500,000 or a million, but eventually even those willing to sell at that price will run out. There will always be some sellers, but how hard would it be to find 50,000 Bitcoins at once?
Maybe someone wants to do this . So I was just thinking about it, and it's just amazing. They will have to start mining on their own. I think when Bitcoin runs out, you know what BlackRock will do? Perhaps they will open a division for bitcoin mining. Fidelity appears to have been mining Bitcoin for 10 years.
Nine years . I think it was 2014 or 2015. They started mining Bitcoin, which is pretty crazy when you think about it, but there are articles that talk about it . Okay. Now I actually found that article. This is from 2017. Fidelity CEO Abigail Johnson says the company mines cryptocurrencies. Below it says: Johnson stated that the company has made several venture investments in bitcoin-related businesses and that the company is looking at blockchain and several leading cryptocurrencies.
Well, actually, let's see, they actually made a lot of money. We set up a small Bitcoin and Ethereum mining operation, which miraculously now makes a lot of money, and she made money herself too. It says she mined 200,000 satoshis . It's not much, but that was seven years ago. They've been doing this long enough to feel confident talking about it.
And she still remains CEO. This is just madness. The CEO of Fidelity, which manages trillions of dollars, mines Bitcoin, and did so almost a decade ago. The company mines Bitcoin. Keep in mind, at the same time we are hearing reports that more and more countries are mining Bitcoin. The Central Bank of Argentina opened an art exhibition yesterday.
It includes mining equipment that actively mines Bitcoin. How is this possible? Dubai does it. Russia is doing it. China is doing it. The US does it. Salvador does it. I can go on and on. Bhutan does it. They have made almost a billion dollars in Bitcoin since they started a few years ago. What else do we have to see before more people show up ?
Maybe BlackRock is already mining Bitcoin. I don't think it's impossible, right? Fidelity mines Bitcoin. Why wouldn't BlackRock consider Bitcoin mining? Yes? I'm sure they have people asking this question. Should we mine Bitcoin? Which is just complete madness. Recently, during an earnings call, Larry Fink said that Bitcoin would be as big as the housing market.
At least, that's how some people are quoting him on Twitter. Sometimes things change a little. This is what people say, like Larry Fink said Bitcoin would become as big as the housing market. This is a market worth hundreds of trillions of dollars worldwide . But this article says it won't become as big as the housing market.
What Fink was referring to was BlackRock's mortgage products. So, he says their Bitcoin business, their Bitcoin ETF, and digital assets could become as big as their company's mortgage business. Now I think it's still very valid. Many people will probably read this article and say, "Oh, okay. So that was misunderstood." People are just trying to hype Bitcoin.
This is still pretty big news, even though Larry has said that Bitcoin could one day rival gold, which would currently be worth between $900,000 and $1 million. He also compares it to their real estate business, and frankly, I've looked at some of their products in that area, and I'm not even sure I've found them all, because they're not that easy to find.
Some of them are related to mortgages, some to real estate, and others are mixed with other categories. But if you look at just some of these mortgage funds and other products that fall under the mortgage category, along with real estate products, it's over $50 billion. When I did the math, it came out to about 55-60 billion.
Keep in mind that assets under management of the Bitcoin ETF, IBIT, currently stand at around $30 billion. So, he says Bitcoin could become even bigger than their real estate business. In my opinion, this is still an understatement. I think he is much more optimistic. And I also think I just couldn't find all these different products in real estate.
When you look at the amount of global capital concentrated in real estate, I think a significant portion of that value will eventually move into Bitcoin. Real estate is good if you want to live in it. It can be a good source of income as a rental property. But real estate comes with a lot of problems: from transactions and fees to people not paying on time and new laws.
Bitcoin doesn't have all these problems. It's a digital property that you simply buy and hold. That's all. You don't need to worry about all this, and in my opinion it will still grow very quickly. I think this is actually big news, even though Larry may not be saying that Bitcoin will surpass the value of all real estate.
The fact that he points to the possibility of it becoming bigger than their real estate business already shows his optimism. And many of these funds have higher fees than what they charge now for IBIT. So I wouldn't be surprised if he hints that commissions could be higher. Because even though they are quite competitive right now and charge a small fee for IBIT, they can make many times more profit from their one Bitcoin ETF than from all these different real estate funds.
And then you start to look closely. So, where do you want to invest your advertising dollars? Yes? If you were BlackRock, where would you invest your advertising dollars? You want to invest them in 50 different real estate funds that are not attractive and nobody cares about them , right? Many people have access to real estate in different ways, right?
You can just search for REIT and there will be thousands or hundreds of different products. Or do you want to invest them in one product that is bigger than your entire real estate business? Like any mortgage, you won't have to deal with a bunch of hassles. You just work with one fund. BlackRock works with one fund, promoting it to different people, they still get a bunch of commissions, and it's a really easy sell.
Plus, it's something that many people haven't had access to yet. Keep this in mind. For example, if you're an investor who has a billion dollars, yes, and you're starting out with BlackRock, you've probably already looked at real estate and you've already been offered it. Everyone wants you to buy their product.
But there's a good chance you never bought Bitcoin because you weren't sent the right messages, because the wrong people were talking to you , or you just didn't understand it, or simply because it's easier now. There's less risk in just going to BlackRock. You have a good relationship with them. It seems less risky than buying it yourself and then possibly sending it to the wrong place, or doing the cold storage yourself, dealing with all of that.
So I think this is really huge news. And while it did n't happen today, it has been happening for the past few weeks. I think this shows their intent—they think their Bitcoin business can be bigger, and I think much bigger, than their real estate business. Also keep in mind: if people are trying to buy airspace rights over buildings, what do you think they will do to get more bitcoins?
Again , less than 6% of the offer remains. People will become desperate. Companies will be desperate for more Bitcoin. And I think we're already starting to see that. I've heard rumors that over-the-counter venues are running out of stock. So, again, if you are a large investment company and you want to buy a lot of Bitcoin, you will act desperate.
Let me know what you think about it under the video. Write what you think about BlackRock now and how much they are buying. Maybe there will be another video tonight about how much they bought today. They just absorb so many bitcoins. This is just madness. Thank you very much for watching. I really appreciate it.
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