Michael Saylor: BlackRock, Citadel, & Fidelity Will Send Bitcoin to $1,000,000

I have said before and I would repeat it Again if it's not going to zero it's Going to a million in the last month We've seen BlackRock uh Citadel Deutsche Bank Charles Schwab Fidelity all in Their own way aggressively jump into Bitcoin how big a deal is that Uh I think it's extreme Um Bitcoin represents Thermodynamically sound Money and thermodynamically sound Property and a modern a modern High Velocity economic Energy System so Um That being the case anybody not using it Is running on a 20th century system That's defective And um You know we talk about the there's a Mean Bitcoin fixes this Okay well If you're an individual if you're a Member of the working class and you keep Working harder and harder and things get More expensive and you can never catch Up then Bitcoin fixes your economic Problem but Um Bitcoin fixes every economic problem of Of everyone that adopts it so if for Example if only individuals adopt Bitcoin but Banks and nation states and Cities and states and and uh

Corporations don't Well you know how good is your life Going to be if all the corporations Collapse all the banks collapse and all The nations collapse and all the cities Collapse and your your economically Sound but all of these other Institutions are not right so it's Inevitable that if Bitcoin is going to Do the best good for the world it needs To be adopted not just by the early Individualist right the rugged Sovereign Individuals right that's that's one Group but You also want uh Pension funds Institutional investors Bakeries manufacturers trucking Companies unions cities states Agencies Charities universities churches Everybody you want them all to adopt it And for them they need an infrastructure Of institutional custodians You know the pension fund for a bunch of Retired Truckers Is going to need uh the infrastructure That Wall Street provides so it needs Mega Banks and it also needs uh large Institutional investors so so what we've Seen over the past week is we see big Banks uh Deutsche Bank credit agricole Santander right these are interesting Entities getting involved very important Because those those banks are the the

National champion Banks and they hold The public money Which means that if you're a public Enterprise or a public institution and You want to actually fix your problems With Bitcoin you're going to need to do It with the help of one of those Banks The uh the news of of um the last week With regard to Blackrock And is significant when you take it In its entirety so uh BlackRock is Probably the largest institutional money Manager and so they're being entrusted With uh the money of all these other Institutions And uh BlackRock applies for an ETF The significance is you now have the Establishment endorsing Bitcoin yeah it Used to be the Bitcoin narrative was oh Yeah Block rock is against us ESG is Against us the establishment is against Us The Establishment was never against Bitcoin uh they were merely indifferent Uh you know there there are enemies of Bitcoin but they're not in the Establishment they're actually in Notting kind competitors to bitcoin Other crypto tokens that want to be the Next Bitcoin they're the ones that have An interest in spreading that ESG fund Um Block rock is just interested in Doing good for the public as best they

See it and it's a big diverse Organization you want to invest in Silver or gold or land or whatever then Uh they'll handle it for you So Block rock uh decides to bring a Bitcoin ETF to Market that's an Interesting Data point but the last 20 got denied by The SEC So the next question is why does BlackRock think they're going to get Approved you know they have this 570 to 1 win ratio right so people go Well it's 99 likely you'll get approved Why Well to the same day or the day Afterwards The edx Exchange got Announced and edx is a non-custodial Exchange uh backed by Fidelity and Citadel and Charles Schwab so three of The Big Wall Street firms What's the significance of that While the SEC has denied those 20 spot ETFs and in the denials they generally Say we're denying it because we don't See a Bitcoin spot exchange that's Regulated and transparent you know per Our liking You know and in the SEC cases against Major crypto exchanges uh the issue they Take is they don't like the idea that an Exchange is is a broker dealer and an Exchange and a Clearinghouse those are Three separate functions well so edx is

Just one of those functions it's just The exchange it's not the Clearinghouse It's not the broker dealer so If you're an industry watcher You say well the SEC can't approve this Unless their fundamental objection is Addressed or cured So edx coming online Sets up a situation where the SEC can Say okay well this is it's trading on You know between NASDAQ and maybe it'll Trade through edx and there's a Surveillance agreement per BlackRock and Adx is not a Clearinghouse it's not a Broker dealer so you know the crypto Industry now has compliant exchanges and A compliant product So we can go ahead and approve that now I don't I'm not I'm not the SEC I don't Know what they'll do they could do Whatever they want to do it's still Possible theoretically they would deny It for any number of reasons Right what's the materiality of edx Versus all the other crypto trading I Don't know but edx did come live in the Same in the same week when this news is Breaking and what happened in Rapid Succession is like four or five other Bitcoin spot ETFs get refiled So if you step back and you look at this From the point of view of an indifferent Investor Or an indifferent industry Watcher the

Conclusion would be oh it looks like a Spot ETF probably will get approved There's massive political pressure to Approve one The circumstances have changed and now There's a there's a way for the SEC to Approve it without backtracking on his Previous legal and policy guidance Um certainly there are a lot of Wall Street entities that I've invested Interested in seeing this happen If you're an institution One way to get Bitcoin exposure is uh to Buy the underlying asset but there have Been challenges with finding the right Exchange to buy it on and the custody of Arrangement and so a simpler way to do It is to buy the spot ETF There are to say there are trillions of Dollars of capital that is required to Invest in and in a security that um Trades in these compliant uh forums is Understate understating the obvious it's It's tens of trillions of dollars so There's a lot of capital that can't buy The Bitcoin or self-custody the Bitcoin They don't have the charter maybe it's Against uh tax code maybe when they Raise 10 billion dollars from public Investors they raised it to invest in Securities but not invest in Commodities Or property So Uh the spot ETF availability is a major

Milestone for institutional adoption the Approval of a spot ETF is a major Milestone in regulatory Clarity which is Attempt to mount to an endorsement right The engagement of fidelity Citadel and BlackRock and Schwab in this exercise is I mean Charles Schwab is literally Synonymous with Wall Street like 100 Years of Wall Street so what you have is Wall Street coming together to offer Offer uh Securities and Exchange Services and indirectly custody services For um mainstream investors And um If we look out about 12 months if I was Saying well what are the key Milestones To drive mainstream adoption of Bitcoin Well uh one of them clearly is uh is a Spot ETF the second is a designation That Bitcoin is an asset class right the Recognition of it as a legitimate Commodity it's a big deal you know and When Jerome Powell says it's not going Away when Gensler in the head when the SEC and the cftc both say it's a digital Commodity Well I mean digital commodity might not Sound like much but but it when you go Down to the next round round which is Like it's a Ponzi scheme or it's a scam Or it's tulip bulbs right the difference Between tulip bulbs And digital commodity is a zero versus a One and I have said uh before and I

Would repeat it again if it's not going To zero it's going to a million it's Either nothing right if it's nothing Then it's getting scrubbed out and Banned Uh and of course we now know that it's Not getting banned right there's no way That Fidelity Citadel Black Rock Charles Schwab Deutsche Bank credit agricole Banco Santander All decide they're interested in this Right they're not endorsing a tulip bulb Right so once you go from zero to one Then the question is okay well it's an Asset class if it's not going away then What's it worth well it's worth one Percent Of the Assets in the world so one Percent drives it up by a factor of 10 To 20. right once you get to a one Percent exposure So the recognition as an asset class is A big deal the recogna the availability Of a spot ETF is a big deal The um you know the normalization of Accounting via fair value accounting Which is the fasbi initiative It's another big deal And then the having right in less than a Year is a big deal so those are four Pretty serious Milestones that we're Staring at right now and I think you Know Wall Street and general and the General Community is is kind of just

Internalizing this all in a short period Of time and that's why the bullish Outlook yes be sure to click subscribe We drop a video every single day keeping You informed about crypto


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