Bitcoin just absolutely uh puking as I Like to say the Bitcoin price pulled Back today totally erasing some of those Gaines so far dipping 9% and virtually Erasing yesterday's gains pric is Tumbling by the most on an intraday Basis since back in March and with a Major reason for the dip being the Massive amount of liquidations that just Happened now this is of course ahead of The sec's January 10th deadline to Decide on a spot Bitcoin ETF will the Spot Bitcoin ETF approvals be a sell the News event uh anticipation of that Upcoming event might be part of this we Could be seen um heading into that day And maybe buy the rumor sell the news Event as we get closer so what triggered This liquidation was a report from Matrix port a financial services company That put out an article saying they Expect the SEC to reject all ETF Applications this month the Bitcoin Price dumped 9% in 1 hour on the basis Of this report and their justification Number one politics being five of the Voting SEC Commissioners are Democrats And two justification applicants like Black Rock still haven't satisfied the Sec's requirements now this is Understood to be just one analyst's Opinion and yes it has been largely Debunked his reasoning good note from Alex earlier this morning on the Matrix

Port note several of the supporting Arguments are nonsensical number one Being cherry-picked information that the Bull Run was kicked off by Franklin Templeton's September ETF filing no Mention of the fact that Invesco Wisdom Tree Vanek Fidelity and Arc had already Filed and all have more ETF assets under Management than Franklin Templeton Number two point of the report to take Issue with that all ETF applications Still lack a critical requirement here They are apparently referring to the Fact that the issuers all have Surveillance sharing agreements with Coinbase but coinbase is only 11% of the Spot Market which even if true it's Irrelevant because apparently they Missed the DC Circuit Court of Appeals Ruling which negated this question with The reasoning surveilling Futures Markets was sufficient because Futures And spot prices were mathematically Indistinguishable other commodity eat TFS also surveil the Futures and the Same 24 hours that all this was Happening update both BlackRock and JP Morgan are instructing staff to be Prepared for a spot Bitcoin ETF approval Imminently The Source at JP Morgan Directly said instructions have been to Make sure the rails cash create are Properly prepared for a quick turnaround Also timeline wise the SEC has lined

This up reminder the SEC back in November delayed the Franklin hash Applications a full 24 business days Before their second deadline the only Rationale for such a move was to align Comment periods for potential Simultaneous approval so assuming this Gets approved will we see a sell the News event as a Trader Mike gut always Tells me things go higher I get a little Bit scared right so I do think a lot of The speculative fever around the ETF is Probably reaching a crescendo this week So yeah could we get a selloff sure but I think that would be a selloff you know A dip to buy because remember there are Still a lot of people that have not been Able to buy Bitcoin for their portfolio So even a one to two to even 5% Allocation in Ira or from private wealth Managers they're going to be buying the ETF over the year now eight different Countries globally already offer spot Bitcoin ETF products today led by Canada In Canada we have a spot Bitcoin ETF you Know one of the reasons why people think That this is going to be uh sell the News event is because the the flows uh With that ETF haven't been as Anticipated and I think that that's one Of the biggest uh narratives that we've Seen this huge price run up going into This event but if there was any doubt That these were not getting approved in

The next week breaking Fidelity just Filed a registration of Securities for Its bot Bitcoin ETF form 8A is a Registration statement used by companies To register Securities with the SEC for A pending ETF approval filing this form Can be a significant step it shows that This train isn't stopping it's going Faster yeah I I think everybody's a Little bit too worried about what Happens in the next week or in the next Month really what this is uh this is uh JP Morgans of the world the black rocks Of the world giving kind of a a you know A light of approve approval for Bitcoin As an Institutional asset and the ETF Approval really opens the door for these Passive flows to come from institutions Right where this is mainly been a retail Asset for a long time there's the Recognition that on a risk adjusted Basis this is the superior asset right Everybody talks about the volatility What what are they missing is the fact That passive allocation on a long time Frame puts Bitcoin you know head and Heels above every other asset class if You started dollar cost averaging the Day Bitcoin hit its alltime high until Today you're up 67% in Bitcoin compared To 23% on the NASDAQ 11% for gold and You're negative on bonds right so that's What people are missing here this is a Much bigger story than just the ETFs and

It's more so black rocks and and and the JP Morgan of the world capitulating and Breaking Goldman Sachs is now in talks To join JP Morgan and be an authorized Participant for Black Rock and grayscale Bitcoin ETFs starting to think that this Recent dump was a big stop hunt before Approval meaning flushing the Liquidation out of the system was Actually healthy for the market so I do Personally think that there will be a Bit of a sell the news event upon Approval just like when we saw with gold ETF approval for the first time ever Back in 2004 it was a run up into the Approval in price and the selloff of Course what it meant for the space for Gold was overwhelming and the price Really only went up for the next 5 years Now for those of you who ask me which Different crypto categories are primed For positive 2024 dpin is a big one Remember the term cuz it's the next big Thing in web 3 it stands for Decentralized physical infrastructure Networks which are blockchain protocols That build maintain and operate Infrastructure in the physical world in An open decentralized manner Peak is a Layout one for deepen now many of you Have been asking me about Peak their Eternal part partner they're one of the World's fastest growing deepin Ecosystems we see the actual numbers

Deepins a physical infrastructure Networks you can think of charging Stations or 5G hotspots which Communities crowdsource together and Then provide connectivity or energy Through those Networks and instead of big corporates Earning all that money and generating All that value the community who builds That infrastructure earns and owns the Infrastructure structure now the news Today is this we're thrilled to welcome BOS the world's largest sensor Manufacturer to deepin a giant step Towards Peak ready deepin Hardware so Obviously this sector of crypto is going To be huge deepens are estimated to be a Total of 3.5 trillion by 2028 alone That's a massive Market opportunity so I Will keep you updated on different upand Cominging Trends in crypto to like this And even though bitcoin's dipping today Micro strategy co-founder Michael sailor Is selling almost $216 Million worth of His own shares to buy more Bitcoin I was Granted a stock option in 2014 with Respect to 400,000 shares which is going To expire uh next April if I don't Exercise it by then for almost a decade Now at my request the company has only Paid me a $1 salary and I have chosen Not to be eligible for any cash bonuses Exercising this option will allow me to Address some Financial Obligations as

Well as to acquire additional Bitcoin For my personal Account under my trading plan I plan to Exercise and sell 5,000 shares on each Trading day beginning on January 2nd 2024 and ending on April 25th subject to A minimum price condition uh this means The sale will take place over almost Four months if you'd like more details About the plan I would refer you to the 10 Q I continue to be optimistic about Micro strategy prospects and should note That My Equity stake in the company After these sales will remain very Significant that is the video my name's Austin like always see you tomorrow


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