BlackRock Launches Bitcoin ETF: Unlocking $19 Trillion of Investment Money?

Patrick Bet-David highlights a pivotal development in the cryptocurrency world: the SEC’s official approval of 11 applications for Bitcoin ETFs. This decision marks a significant turning point for Bitcoin, potentially catalyzing its growth and integration into mainstream financial markets. Beginning with highlighting the big players in the finance sector, including BlackRock, Fidelity Investments, Ark Investments, Invesco, Wisdom Tree, Bitwise Asset Management, Valkyrie, and Grayscale, who have submitted applications for Bitcoin ETFs. This move signals a growing acceptance and interest in cryptocurrency from major institutional investors.

Connect one-on-one with the right expert to get the answers you need with Minnect: https://bit.ly/3MC9IXE

Purchase Patrick’s new book “Choose Your Enemies Wisely”: https://bit.ly/41bTtGD

Register to win a Valuetainment Boss Set (valued at over $350): https://bit.ly/41PrSLW

Get a free “Future Looks Bright” Hat & T-Shirt: Purchase two “Future Looks Bright” Hats and one “Future Looks Bright” T-Shirt & use the promo code “pbdpodcast2024” at checkout!

Get best-in-class business advice with Bet-David Consulting: https://bit.ly/40oUafz

Visit VT.com for the latest news and insights from the world of politics, business and entertainment: https://bit.ly/472R3Mz

Visit Valuetainment University for the best courses online for entrepreneurs: https://bit.ly/47gKVA0

Text “PODCAST” to 310-340-1132 to get the latest updates in real-time!

SUBSCRIBE TO:
@VALUETAINMENT
@PBDPodcast
@ValuetainmentShortClips
@vtsoscast
@ValuetainmentComedy
@bizdocpodcast
@BrandonAceto
@kvoncomedy
@valuetainmentsports7531@valuetainmentsports7531

Want to be clear on your next 5 business moves? https://bit.ly/3Qzrj3m

Join the channel to get exclusive access to perks: https://bit.ly/3Q9rSQL

Download the podcasts on all your favorite platforms https://bit.ly/3sFAW4N

Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.

Big news SEC officially approved 11 applications for Bitcoin ETFs and this is a big deal because some people are saying wait a minute it doesn’t this make this official Kathy Wood came out saying I think Bitcoin is about to go to a million and a half she’s saying it may

30X what it is today many people are losing their minds Black Rock Fidelity Investments Arc Investments Invesco Wisdom Tree bitwise Asset Management Valkyrie grayscale are some of the applications that are being submitted now chair Gary Gensler comes out and by the way Gary Gensler is L by the xrp

Folks he’s a sweetheart they just love him they always send him nice love letters but he comes out and says the following he says a company in the agency’s approval of Bitcoin ETFs warned that the funds approval shouldn’t be taken as an indication the agency is backing off crypto enforcement here’s

This quote today’s action does not approve or endorse crypto trading platforms or intermediaries which for the most part are non-compliant with the Federal Security law and often have conflict of interest so some may say well isn’t this kind of like if ETF approves that these 11 applications

Isn’t this like one step closer for regulation like that’s exactly what Gary wants no isn’t he trying to find out exactly what’s going on with the money there possibly we can talk about that as well but here’s the key the reason why this is important when you look at all

The asset classes of different Generations this is what you’ll find there’s roughly 156 trillion dollars in US assets and you can see the dark green to the left is Boomers half of it Boomer have Gen X has 30% of it silent generation has 12% of it and Millennials

Have 8 1 12% of it but on the baby boomer side look at equities and mutual funds how big is that $19 trillion can you imagine now these company is reaching out to these Boomer clients and saying hey you got all this money how about we take some of your1

199 trillion and put a small percentage of it in ETF what could that to to the Bitcoin ETF who knows but we’re going to talk about all of that today so if you get value out of the this video give it a thumbs up and subscribe to the channel

So now if you’re watching this you like Pat the last thing you said is $19 trillion of the Boomer assets if they take a small percentage of it what could that do to bitcoin because currently bitcoin’s market cap is only around $800 billion so when Kathy Wood says 30X that

Means 800 billion would be what $24 trillion maybe that’s kind of crazy by 2030 I’ll give you Elon musk’s prediction at the end as well but could the 800 billion go to 8 trillion that’s 10x could that happen maybe that’s something to think about and have people already started putting money into the

ETFs they have here’s what it’s looking like on their initial trading day Thursday Bitcoin ETFs recorded inflows exceeding $4.3 billion establishing an unprecedented milestone for exchange traded funds products black rock inks I share Bitcoin trust ETF attracted over a billion dollars and great skilles Bitcoin trust experiened inflow

Surpassing $2 billion the reason why this is important is take a look at some of the dates here and see what happened on June 16th 2023 Black Rock filed for a spot Bitcoin ETF they called it I shares Bitcoin trust at the time Bitcoin was trading at $225,500 but quickly shot up

Beyond $3,000 Bitcoin has gained roughly 63% since Black Rock filed its ETF application and black rock names JP Morgan as authorized participating for spot Bitcoin ETF which means in a way JP Morgan Chase and black rock is saying Bitcoin is here to stay it’s not going anywhere however this can’t all be good

Right like you got to sit there and say there’s got to be something bad about this doesn’t hurt any aspect of Bitcoin here’s what Arthur Hayes had to say he’s the co-founder of bitmex he says Black Rock will completely destroy Bitcoin now why is that based on their direct and

Indirect investment it is estimated that BlackRock State Street and Vanguard collectively own 1 and 2% of all Bitcoin in circulation Hay’s argument is that if Black Rock which is in the asset accumulation game vacuums up all the Bitcoin there will be no more Bitcoin transactions and those who secure the

Bitcoin Network in return for fees and newly minted Bitcoin known as miners would be unable to afford the energy it cost to secure the network as a result they would shut off their machines without the miners the network dies and Bitcoin vanishes so now why is he saying

This what’s the big deal with miners like what do you mean if they don’t do anything with it are miners that important look how much Bitcoin devours electricity more than many countries out there when you look at this chart at the top you’ll see annual electricity consumption in comparison China’s number

One US is 2 Germany’s three all the world’s data centers is for look what’s next Bitcoin more than Norway more than Bangladesh more than Switzerland more than Google more than Facebook it’s more than Google and Facebook combined times8 that’s a lot of energy so his argument comes back to how Bitcoin transactions

Work to limit inflation Bitcoin coin Creator designed Bitcoin to only have 21 million Bitcoins however Bitcoin only exists If It Moves when a Bitcoin transaction is made miners take the information and apply a mathematical formula verifying the transaction and adding it to the blockchain this process

Is known as proof of work it’s called that because the process of mining is very hard and timec consuming requiring large amounts of processing power and time multiple confirmations other miners verifying the blocks are typically needed for transaction to be considered secure as a reward for their services

Miners are paid in Bitcoin for each new block they add to the blockchain so now there’s a lot of predictions being made about is this thing going to hit $100,000 before the end of the year or not there’s one chart that shows it will because of the history of what happens

To bitcoin when it goes through haling let me kind of explain to you what this means the size of Bitcoin block rewards is Haled after the creation of every 210,000 blocks which takes around four years at bitcoin’s Inception in 2009 each block reward was worth 50 Bitcoins

In May 2020 the block reward was held a third time to 6.25 Bitcoins in 2023 there were 19.4 million Bitcoins in existence 92% of the total plan Supply the block reward is scheduled to reach zero around May of 2140 but mining will likely no longer be profitable long

Before that date is reached as of April 2039 about 99.6% of Bitcoins will already have been issued and the block reward will be just .19 95 3 1 2 5 0 Bitcoins so when you look at this chart this is what you’ll notice first haling that took place

November 208 2012 Bitcoin was roughly $12.22 now four years later July 9th of 2016 Bitcoin at the time that’s the second haling it was priced at 65761 then go back four years later which is May of 2020 third haling Bitcoin was worth $9,500 and in this year the date they’re looking at that’s

Going to have again is April 22nd of 2024 nobody knows what number it’s exactly going to be at but everyone’s guesstimating that number is going to be higher and that’s why some people are speculating Bitcoin is going to hit $100,000 this year and by the way remember this is all just hypothetical

Is what we’re talking about I don’t want you to get off this stin here and go buy Bitcoin and say well you know according to this video that path did Bitcoin is going to go no no I’m just giving you data and trends for you to consider yes

Elam mus says it’s going to go to a million dollar yes Kathy Wood says it goes to a million and a half but John McAfee a few years ago said it was going to go to $1,000 when it was at 9 and it didn’t happen so don’t jump to

Conclusion with all these different predictions people are making it’s just look at the numbers and then see your risk tolerance time Horizon make the decision based on that here’s another one to consider Global liquidity if you look at this chart what do you notice the more liquid money that we have

Worldwide look what happens to bitcoin and this same applies to S&P it’s not like this is an epiphany moment of a chart we’re looking at this goes with everything the more liquid assets liquid money that’s out there last but least to compare the three gold Fiat which is a

US dollar in crypto this is the argument that’s made by the Bitcoin Community fungible interchangeable high high high non-consumable the same portability gold moderate the rest high high durable High Fiat moderate crypto High secure you see moderate moderate High easily transactable low gold high high scarce moderate low high sovere government

Issued low high low decentralized as of today cuz if Gary Gensler has it his way this may change low low high smart programmable low low high and by the way this is not a you know article written by you know coinbase or something this is Investopedia that puts something out

There for the average person to be thinking about they’re not leaning one way or another they’re just kind of giving you the feedback so look I mean obviously to me when a black rock and a JP Morgan Chase is approving something like this that’s the closest thing to to

The US government given the okay that you’re doing this so what does that really mean does that mean it’s official it’s real the biggest critics that said they would never ever do anything like this now they’re doing it what does that do it means yes it means Boomers who

Trust level and risk tolerance is probably the lowest they don’t trust anything new they don’t like any changes they don’t want to do anything that’s out of the ordinary now this gets to Boomer who are the richest people 50% who are like hey what do you think John

Do at Goldman Sachs Morgan Stanley do you may want to put 5% you may want to put 3% of what of 19 trillion what’s 5% of 19 trillion it’s a trillion dollars what does that do instant double does that what that means maybe again everything I said is pure speculation

But I’m researching and looking at the topic myself just like you are before you make any crazy decision with your money go do more research on on your own talk to your adviser if it makes sense then consider it but this is definitely a very big event maybe one of the

Biggest historic events that took place with Bitcoin that’s why the entire industry is talking about this if you got value out of this video give it a thumbs up and subscribe to the channel at the same time we did a video on collapsing of the US dollar then we

Studied currencies that we’ve had how many currencies we’ve had worldwide like World currencies and the cycle could this be a change that’s taking place nobody knows but I suggest you go watch that video very very interesting on what’s happened with the history of currency take care everybody bye-bye bye-bye a