BREAKING: Institutions & Pensions Buying BlackRock Bitcoin ETF!

I think the institutional adoption is Happening now a lot of smart Institutions are saying let me get along This thing I think it pays to be early In Bitcoin and I think we're still early In Bitcoin bitcoin price is surging as Black Rock's Bitcoin ETF sees its Highest inflows in months this is Because State Pension funds are now Buying Bitcoin the state of Wisconsin Investment board invests nearly 100 Million in Black Rock's spot Bitcoin ETF Eric Bel chunis the senior ETF analyst For Bloomberg shares why pensions buying Bitcoin is significant pensions are Probably the hardest investor type to Land says Eric belunas a Bloomberg Intelligence senior ETF analyst who Likened it to Landing a sailfish which I Guess is a big deal pensions are very Picky they have access to everything and Usually it takes a while for them to Bite Bel chunis said and so the fact That they bit so quick it's a good sign To me it's more of a testament that Black Rock's ETF got so liquid so Quickly that really in my opinion opened It up to anyone because advisors will Bite on lesser traded stuff and Retail Will bite on anything but institutions They've got to be liquid it's really I Think a testament to the volume that Black rocks ETF was able to produce that Made the institution probably

Comfortable Bel chunis added that the Idea that pension plans would use the The Bitcoin ETF I think is also a big Win for ETFs he says Anthony scaramucci Founder of skybridge capital explains Why institutional adoption like this is A big deal I think the institutional Adoption is happening now uh the state Of Wisconsin announced we expect other Pension funds to announce and of course Bitcoin now has the regulatory approval And I think that was the rate limiting Step for a lot of these large scale Institutions and just remember if you're Not long Bitcoin you're possibly short Bitcoin in the sense that if you believe And I think Black Rock has more or less Said this that this will be part of a Long-term tactical asset allocation Strategy for institutional investors Then at some point you've got to get Long Bitcoin is it a percent of Bitcoin One and a half% Bitcoin I don't know so Uh a lot of smart institutions are Saying let me get long this thing before It becomes part of a total tactical Asset allocation index and I think that That's starting to happen now and that's Very good for Bitcoin taking a look at The data for all ETFs the net Bitcoin ETF flows are back to flowing in the Positive direction people are buying Bitcoin through these ETFs institutions Are buying Bitcoin through these ETFs

Just in 937 Financial firms disclosed spot Bitcoin ETF Holdings in q1 of 2024 gold ETFs just had 95 firms invested in the First quarter even Morgan Stanley Disclosed that they own Bitcoin through Their Bitcoin ETF exposure in fact Confirming 243 million in Bitcoin through gbtc Remember when we told you this at the Beginning of the year Jamie Diamond the CEO of JP Morgan Chase going on TV Futing Bitcoin we asked you what would Jamie Diamond do if he wanted to buy a Lot of Bitcoin he'd go on CNBC and trash It he'd say it's going to zero the price Would dip and he would buy that's not Illegal and then there's a one which Does nothing I call it the pet rock the Bitcoin or something like that and so on The Bitcoin you know there's First of And I'm I'm not trying to make a joke Here there are use cases AML fraud Anti-money laundering tax avoidance Trafficking those are real use cases and You see it being used for hundreds maybe 50 hundred billion do for that that is The end use case everything else is People train among themselves my Personal advice is you don't get Involved they make of the other firms The black rocks of the world that that Obviously and and L Larry think changed His view of this obviously and maybe he

Changed his view because you think he Genuinely believes in Bitcoin or gen or Believed it because he thinks that There's a Marketplace for it and he Wants to be part of that market but what Do you think of the there's about a Dozen big Financial companies Fidelity Included number one I don't care sure Buddy sure it's just amazing the Institutional perception shift that we Have seen and are currently seeing Around Bitcoin the CEO of bitwise Investment said this first they said It's only crazy internet people that own Bitcoin then they said it's only retail That owns Bitcoin now they see over 500 Massive wealth firms Banks and Institutional investors bought Bitcoin In the first 2.5 months of the Bitcoin Etf's history I wonder what they'll say Next and Anthony scaramucci kind of Echoes this point saying when skybridge Announced their position in Bitcoin Years ago institutions didn't like that He did that and he kind of talks about That shift because now they're into it Well you I've been in trouble on this Because I I announced our we announced Skyber announced our Bitcoin position in November of 2020 and a lot of Institutions Wirehouses they didn't like it they Didn't like the position it's four years Later now these very same wirehouses are

Adopting the position and are getting Along at the ETF or at least allowing Their financial advisers to recommend The ETF and so you know sometimes when You're early you get a lot of bumps and Scrapes but I think it pays to be early In Bitcoin and I think we're still early In Bitcoin hey real quick you should Join us at Bitcoin conference in Nashville this year 10% off if you use The code altcoin daily link and details In the description this is the biggest Bitcoin conference in the world I think This is going to be their biggest year Ever I love the fact that this is in Nashville this year if you want to be Part of the culture celebrate Bitcoin With like-minded people and hang out With us join us at Bitcoin conference Nashville 10% off use the code altcoin Daily link and details in the Description I hope to see you there so 150,000 bitcoin price prediction by end Of year remember when Tom Lee on CNBC Made this prediction I said 75 what what Did you say to me I I think it's you Know could be high is 150,000 this year So double what I thought was 150,000 so We're tripling at this point yeah Because you've got demand improving with The ETF and you have the supply Shrinking with the havening and if Monetary policy eases which we expect You know that's supportive of risk

Assets and bitcoin's holding up I mean That's another reason why I don't think A draw down is going to start that soon I mean bitcoin's been rallying last Couple weeks are you in the camp of this Is like a $500,000 Valued over over five years are you yeah It is sound money Anthony scaramucci Believes that Tom Lee is right and Bitcoin does have a strong chance of Hitting $150,000 before 2025 make sure you Subscribe for daily crypto content we Keep you informed on crypto markets on a Daily basis smash the like button Support the channel listen if there Really I mean if there's 21 million and It's going to eventually have a some Percentage of of what the gold market is Why it it should be and Tom Lee says 150 By the end of the year it seems like if That is a given that it's it should be Moving up even more quickly I'll to Together it for a second let's say gold Is $16 trillion right and let's say Tom Lee is wrong by half which I don't think He is and I appreciate him coming to my Book party last night but I I think Tom Lee is going to be right but just if Bitcoin got to 8 TR Was it the qu qu Tom Le or was it the Wild Tom Le it was a little wild when he Comes on here you never know it could be He's an incredibly zen-like

Guy doesn't have your or my emotional Wavelength Joe you know we have a Tendency to or sign and Co our product That we have no no and I need more Product lately Joe not less product more Product

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