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on our price target for for Bitcoin and uh you know our base case is over $600,000 by the year hey yo what's good everybody welcome back to Urban blockchain this is your boy Dre Lou here to bring you crypto news crypto updates crypto wisdom and today we're diving into the hey yo in my opinion the big money movers the big institutions Like Larry Frink black Rock Fidelity and even Kathy Wood are preparing for all of the Bitcoin ETFs to be approved at the same exact time so in my opinion they're preparing themselves as well as their client base for the Bitcoin ETF all of us sudden Larry fin is positioning himself as the Bitcoin Guru just earlier this week on CNBC he stated that crypto is considered a flight of safety and quality along with with treasuries and gold really all of a sudden Larry FR we are hearing from clients around the world about the need for crypto I mean when you think about I think some of this rally is Way Beyond the rumor I think the the rally today is about a flight to Quality with all the you know all the issues around the Israeli War now um Global terrorism and I think there's more people running into a fight the quality whether that is in treasuries gold or crypto depending on how you think about it and I believe crypto will play that type of role as a flight to Quality honestly it's no coincidence that Larry fank is talking about cryptocurrency let alone Bitcoin in addition to that Fidelity has been leasing reports on their website stating how Superior Bitcoin is and that investors should consider having Bitcoin a part of their portfolio and in addition to that kathywood has been getting airpl almost every other day and every second she gets she ensures that she speaks about Bitcoin and its superiority uh it's it's interesting because bitcoin's been sideways for months and yet we've known that this this ruling has came in and it's known that they likely may not appeal and yet doesn't seem to be moving Bitcoin it's up a little bit today is it is is interest a little more muted in Bitcoin than it used to be you know judging by the questions we're getting no um I think many people uh uh focus on our price Target for for Bitcoin and uh you know our base case is over $600,000 by the year 2030 and they really want to understand that so maybe they're just trying to understand our research but there's definitely a focus on you know uh is uh is this a new asset class that I should investigate and I would say institutions especially when they see the SEC seal of approval in this way I think this will finally bring institutional interest into Bitcoin are you on board with that idea I mean what what's interesting to me the reason I asked is when the Bitcoin Futures ETF launch bitto from pro shares you know we had we had Simeon Hyman on yeah this was you know almost two years ago and boy the interest was through the roof on this billion huge and we've got a few million dollars in The Ether Futures am I being petty here I don't think so Bob I I think we're at a critical point in time what this issue with gray scale is forc the sec's hand and really up until Friday when they had their deadline the SEC and grce scale just weren't talking now that they've passed on this appeal date they're forced to have a conversation all it's obvious that they are preparing themselves for the Bitcoin ETF and if they believe that all of them are going to be approved at the same time then they also have to prepare their investors because they want to be the main source the main resource the leading resource for Bitcoin information and knowledge
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