The markets are telling us that we Should be damn scared about what the Government is doing with our deficit Digital assets they add diversification Benefits cuz they're uncorrelated crypto Is now an asset class it will be next Year it will be forever crypto is being Drained from exchanges like we've never Seen before Bitcoin and ethereum have Been leaving exchanges for years it's True and yet we're now still seeing one Of the steepest drop offs ever why well We know that crypto regulations are Opening up in the US crypto is now a Major campaign issue and that's really What it is why we're seeing this happen And you know what this is only going to Get more exciting over the next 11 Months a lot of people don't realize how Perfectly on track we are for one of the Craziest Cycles ever billionaire Investor Mike novogratz of Galaxy Digital explains why the crypto markets Are now stronger than ever 5 months into To the spot Bitcoin ETS roughly $ 58 Billion in assets under management Across all of those funds I my question Though is more about the institutional Interest so I was going through all Those 13f filings looking at which banks Newly had exposure to bitcoin through This spot ETF and it's not a lot you Know Morgan Stanley $270 million not all The banks have uh exposure and the ones
That do say that this is more a Reflection of what their wealth Management clients are asking for not an Endorsement by the bank of this but you Wouldn't expect a lot of banks to put Bitcoin or Google stock on their balance Sheet listen we're seeing movement Prices are significantly higher in Crypto than they were three months ago Trading close to the highs and that's With interest rates giving us no love Right at the beginning of the year we Thought the Fed was going to cut five to Six times now they haven't cut at all And don't look they theyve cut and so The crypto markets are strong because we Have the sentiment shift crypto is now An asset class it will be next year it Will be forever and it wasn't that way Two years ago there was risk around the Asset class and it's been drisk and so Every day some Morgan Stanley salesman Is picking up a phone and trying to sell One of his high net worth clients crypto And you're just going to see a constant Drip of money come into this space and Prices go higher especially as long as The government keeps spending by the way This is exactly what Bitcoin analyst Brandon green said in our recent Interview released just the other day I think this is what's going to happen There has been no easement of monetary Policy we're still in very tight
Conditions and yet we're at all-time Highs the monetary policy of the United States is going to loosen over the next Few months especially heading into the Presidential election there will be Pressure from the Executive Branch to Print more money and pump the stock Market and make everyone feel rich again That's going to affect Bitcoin in a Major way and it's going to pump it to Crazy levels so right now Bitcoin is Ranging I'm waiting for a breakout of 73 $3,000 when that happens I expect Bitcoin to really gear in to its next Level the herd is coming it just takes Time Mike novogratz explains you've been Talking about the herd is coming that's Your your catchphrase said that a few Years ago we have seen more institutions Come into the space I mean you come from Goldman yourself you work with a lot of Major institutional names from the trafi World what's the sentiment what are People not saying publicly but they you Know they feel they are waiting for the Endorsement from Congress through a a Bill like fit 21 through an infrastr Through a uh Market infrastructure bill That gives them Clarity no bank that Makes as much as JP Morgan or Goldman Wants to put any reputation at risk on a New technology when the rules aren't Clear and so if Sab 121 gets wiped out You'll see places like Bank of New York
And State Street enter custody that'll Make those places feel more comfortable But we need the full endorsement from Congress SEC and the fed and then you're going to See a stampede of those guys into our Space make my business is going to be Harder because the competition is going To go way up but it's going to bring a Lot of Assets in so right now crypto is Volatile but all markets are volatile And that's precisely why you want to Hold Bitcoin and crypto Mark yuso of Morg con Creek digital explains exactly This volatility is interesting and that People fear it yet volatility is your Friend what you want to do is own Volatile assets that are uncorrelated With one another because all volatility Is is disagreement about the future Prospects for a company 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 digital assets cash and gold are the Way to go here at least according to Market expert marusco this is why you Need to be in crypto over the next 11 12 Months and some cash you think digital Assets cash and gold are the way to go For the next 12 months what does that Say about your outlook for the markets Cash is a choice right it's an asset That today yields about 5% while you Wait it gives you the buying power to Buy things when they go on sale human Beings do two things really really well We buy what we wish we would have bought And we sell what we're about to need Commodities broadly despite the fact That they're making new highs every day Are at the cheapest price to paper Assets they've ever been and you know in The kids game right uh paper beats Rock But in real life rock beats paper so we Favor Commodities and you know how I Feel about digital assets digital assets To me everyone needs to have some in Their portfolio they add diversification Benefits because they're uncorrelated Because they don't derive their value From the same thing as traditional Financial assets and one last question Mark do you think that um the volatility In digital assets will be dampened as More and more ETFs are approved again Really really great Point uh absolutely
If you think about $58 Billion of you know mostly retail and Advisory money coming into this space in As they call it the Boomer wrapper right So you don't have to deal with Hardware You don't have to deal with software you Don't have to deal with self- custody You just buy an ETF just like anything Else in your portfolio I think that Number goes to 300 billion over the next Couple of years from the 58 today I Think that will dampen volatility I Think it'll lead to much higher prices I Mean you are a macro guy you mentioned The fact that you know interest rate Cuts don't seem like they are in the Cards uh this year are you anticipating Any sort of listen we could have a cut In September if all of a sudden grow Slows and you get a little bit of Inflation but we're not going to get the Five six seven cuts and to your point Like usually you had Bitcoin track those Decisions so closely and they've just Like broken free of of but same with Gold same with silver the markets are Telling us that we should be damn scared About what the government is doing with Our deficit right we're adding a Trillion dollars of debt every hundred Days to our to our giant pile of $ 36 Trillion in debt if you're a Wall Street Or if you're stay in Dr or ralio that's Existential to this country and in an
Election year no one's going to talk About it but we've got a populist left President and we had a populist right President and now he's a candidate and So like populism isn't good for fiscal You know sorship populism spends and When you're spending like that assets Like Bitcoin are going to go higher look I'm not sure how much clearer I can be As we get more into this election year Along with everything else crypto is Going to really heat up so make sure You're subscribed now is the time to Double down on your awareness and Education check out our recent Interviews for extra alpha or any of our Videos over the last 6 months like the Video here is Mike novogratz talking About how he's bullish going into end of Year see you tomorrow predictions for The end of the year are we going to see This legislation actually get passed Into law are we going to see a turnover In the White House are we going to see Gensler out listen I think uh I think Gendra is going to be gone at the end of The year one way or the other or the at The beginning of next year if Biden or Trump wins Gary has probably served Plenty of time at the SEC I think the Election we're going to literally go to Bed an election night not knowing who's Going to win right there's six six or Seven swing States they're all going to
Be tight right now they're all trending Trump's way but remember it's a long Time in those last couple months both Parties spend a bazillion dollars in Those States courting those independent Voters and I just really believe it's Going to be one of those I can't believe We going to bed again not knowing who's Going to win um I think listen I think Crypto prices are going to be higher There's a 50 40% chance we get Legislation this year you're going to Have to have the Senate Put together it's its counterparty Remember like house passes bills Senate Makes laws and so they take each each Little piece of it a little more Seriously you mush those two two things Together I do think Senator Schumer will Put it to a vote if they do that and and President Biden wouldn't veto it and so The path is clear and if it doesn't Happen this year it'll happen early next Year
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