BlackRock trying to CRASH Bitcoin Price [This is WHY]

They're always like hearing your price Targets because you are so Fearless Where are you on bitcoin by by the end Of next year let's say uh well if the Spot Bitcoin gets approved yeah I think a Bitcoin spot ETF is a good Idea but you are being gaslit about Bitcoin spot ETF there's fake news being Distributed that the SEC has delayed all ETF approvals until early 2024. there is No source for this this is just Speculation in fact insiders are coming Out and saying a BlackRock Bitcoin ETF Is likely four to six months away and if Not BlackRock may be Fidelity maybe Arc Invest maybe grayscale a Bitcoin spot ETF would be a huge deal this is what Happened to the price of gold when a Spot gold ETF was approved in 2004. Gold Went on an eight-year Bull Run do you Understand what's going to happen when Any one of these companies gets approved For a spot Bitcoin ETF do you understand Why something like this is going to Happen when a Bitcoin spot ETF gets Approved I had the chance to interview An expert ran nooner for from crypto Banter about a month ago I'm gonna play You two minutes of this 15 minute clip Why exactly this is such a huge deal for The price of Bitcoin listen everybody Says that this BlackRock spot ETF is a Huge deal is it like really that huge of A deal could you help us understand like

Why like if if this gets approved why This is going to be so big So ETFs give investors a simple way To get into asset classes and if you Think about ETFs the people that sell The ETFs or the wealth advisors The Wealth Advisors manage most the capital In in the world in the United States and If you let me share my screen again I'll Actually show you a few things here That is like if you look at the wealth Advisors in the world that is in the States this is what they specifically Manage so BlackRock manages nine and a Half trillion Vanguard 8.1 trillion Fidelity 4.3 trillion and so the list Goes on and on right now if you're a Wealth advisor and you believe that you Want to be in Bitcoin and the reason why You may want to be in Bitcoin is because Bitcoin has been the best performing Asset class how do you get your Investors into Bitcoin what's your entry Point how do you do it One way is that you can be a custodian Yourself and try and store the the Private key somewhere or the 12 magic Words somewhere but that's quite Negligent You could open an account in coinbase But most big funds aren't regulated to Be able to open an account on coinbase You could buy shares in grayscale's Bitcoin trust which is not really an ETF

But it's illiquid it's traded on what They call an over-the-counter Market So what happens when you introduce an ETF is you open up the world to the fund Managers who meet with their clients Regularly to be able to put Bitcoin into Their portfolios Okay now what does that do well now you Get the average advisor and whether the Advisor is a big pension fund or whether The advisors or endowment or whether It's just an advisor who plays golf with High net worth individuals and he says That you know this Bitcoin thing has Gone up 83 in the first six months of The year and it's very still 50 off its All-time high and you know maybe we've Just put two percent of our portfolio And then what happens is it becomes like Switching a switch like all the rest of The investment products in the world It's not a hard sell right now you Imagine that same game of golf with that Same fund manager wanting to go into Bitcoin and he's thinking if my client Tells me to get into Bitcoin what the Hell am I gonna do like I'm gonna open An account at Bitcoin and I don't know How to custody this thing and you know The truth is also investment managers Earn a Fee for selling investment products it's Like you know if an investment manager Sells a fund he typically earns if you

Know those fees are quite regulated But going forward they'll be able to Earn a small fee for putting you into The Bitcoin ETF so they kind of have a Small incentive to do that as well so I Think it is a big deal over time I think That'll be the entry point for two three Four five six seven percent of Assets in The United States and in the world to Start flowing into Bitcoin and um Because Bitcoin is a scarce Supply or Limited Supply asset the more buying you Have specifically of the spot instrument The more the price goes up but I want You to realize that a spot Bitcoin ETF Is definitely going to happen not only Insiders but experts in the field of Crypto are coming out this is the CEO of Kraken I am certain we will have a spot Bitcoin ETF in the US I think it's Possible this year this is his full Statement listen to the end you know It's interesting spot ETF trading Getting a lot of attention you've got Half a dozen companies now hoping to get Approval however we've seen delays after Delays after delays when do we get Approval when do you think this could All get rolling or maybe not at all what Are your thoughts I think well the easy Question is this I am certain we will Have an e a Bitcoin ETF in the U.S at Some point in time I mean other Countries already offer have you know

Companies offering these products Europe The UK and elsewhere Um we know this firsthand I know this Firsthand because we provide the um the Reference rate the to to these various Different products via our subsidiary CF Benchmarks it's the largest benchmarking Indices provider in the crypto space We also happen to be kind of have Somewhat of a front row seat in that we Are the selected reference rate provider For the majority of these ETF applications in uh in the US now to The harder question when is that Actually going to happen Um you know right now the SEC yeah Predictable I don't think is is the the Best adjective to to uh describe them no Uh you know I'm hopeful it'll be I'm Hopeful one of these that are in the Queue or several of them actually will Will get through Um I think it's possible this year Um in even with greater possibility that We'll see it at least by sometime next Year believe me if he could just come Right out and say it he would hey join Us at Bitcoin Amsterdam October 12th and 13th this is an epic Bitcoin conference Use code altcoin daily 10 off tickets Get this ticket or get this ticket Ticket prices increase as we get closer To the event so many awesome speakers Are being added every single day use

Code altcoin daily for 10 off hope to See you there but anyways let's get to The bigger question so I'm not talking About five years after it gets approved I'm not talking about 10 years after it Gets approved I'm talking about within a Year after a spot Bitcoin ETF gets Approved what price will Bitcoin rally To fund strats Tom Lee just went on live TV and gave his price prediction if the Spot Bitcoin ETF gets approved the Clearing price of Bitcoin will be this I Always like hearing your price targets Because you are so Fearless Um Where are you on bitcoin by by the end Of next year let's say uh well if the Spot Bitcoin gets approved yeah I think the demand will be greater than The daily supply of Bitcoin and so the Clearing price uh this is done by Sean Farrell who's our crypto digital Strategist is is over a hundred fifty Thousand it could even be like a hundred Eighty thousand but that's that's only If the Only if the ETF gets approved yes a spot U.S because a spot Bitcoin ETF is Approved outside right okay but if it's Not approved then are we just lingering Around 29 000. uh there's still upside Counts because of the happening next Year so you'll have a drop in Supply Again so the clearing price has to

Increase but it won't be six figures Like the video post this video on social Media send this video to a friend it's a Small thing you can do and it truly Helps our Channel grow we bring Cryptocurrency education to you on a Daily basis subscribe to our Channel I'll see you tomorrow do you think that 100K Bitcoin is likely or just like no Way higher way higher way higher than 100k It if if we're in this because we think That the market is only going to turn a Half X from where we are today we Shouldn't be in it Um way higher like I'm talking 10 times Higher than we are today but I just Can't tell you if it's going to take a Year two years or five years Um you know Bitcoin is about Network Effects Network effects occur when every New user to a network increase the value Of the network exponentially


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