BlackRock, the world’s largest asset manager, is among the institutions involved, raising hopes that the increasing participation of retail investors in Bitcoin ETFs will contribute to future price gains. A recent report indicates that the combined 11 spot Bitcoin ETF applicants hold approximately 3.3% of the current Bitcoins supply.
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00:00 Intro
00:21 Sponsor: iTrust Sponsor
00:52 Wall Street prepping for rally
01:54 BlackRock owns $3B in BTC
03:43 ETF wars in Europe
04:30 Job numbers + rate cuts
07:37 Magnificent 7
08:09 META vs Apple – Headset wars
10:07 A.I. Impact 2024
11:50 Patrick McHenry vs SEC
12:49 Altcoin potential
13:41 Outro
#Crypto #Bitcoin #ethereum
~Blackrock Now Holds $3 Billion Bitcoin📈~
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Black Rock Zooms in with three billion In assets under management we breaking That down for you guys and give you a Framework of where the market might be Going for crypto and Bitcoin don't miss It my name is Paul Baron welcome back in The tech path all right so we'll get Started I want to thank our sponsor it Trust Capital get your Bitcoin into Itrust capital or go ahead and get an A Crypto IRA and get your Bitcoin there Because I feel like blackrock's about to Buy it all up for some reason and one of The things you can do is you can do your Own self trades inside uh it trust and It's very simple you can self-direct go Into alt coins precious metals Bitcoin Eth Etc all you have to do is click the Link down below you'll get a $100 Funding reward if you use our link it Does help the channel so try to do that We appreciate it all right so let's go Into a couple of lead stories here the First one I want to hit are Wall Street Bulls preparing for a rally Bitcoin and Ethereum purchases are increasing and This of course is coming in from a lot Of different sources but the primary Points that they're hitting on right Here is a survey that beli Bitcoin and Ethereum will rise I think everybody's Kind of on the same plate there with That bullish sentiment driving toward The weight of digital assets and
Portfolios I think that also is being Brought in just because of the success Of the ETFs and then you've got Bitcoin And eth in terms of the accounts of 58% Of the participants digital asset Portfolio in the previous surveys the Rate was 50% so an 8% rise in very short Period of time all this good news for What's happening but yet at the same Time we're still kind of hovering around A 22 to 2300 ethereum and that is the Question why are we not seeing a Breakout do we still see pressure coming With from the FED do we still see Pressure coming in from the looming Issues of the SEC all of this still Plays in to what is going to happen on The next few months couple other things Right here Black Rock of course spot Bitcoin ETF now holds 3 billion worth of Bitcoin this is insane for this to be Out less than a month they're up three Billion remember this continues to climb At some point to climb at some point we Will see the intersect between grayscale And what's happening with black rock or Fidelity I think those would be the two To keep a very close eye on sentiment Right now we've got our ETF tracker make Sure and check it out over on our Website just go to PA Network and go to The market sentiment index you can Actually get to an ETF Tracker couple of points I do want to
Hit on here Black Rock spot Bitcoin ETF Overtakes grayscales uh gbdc in Daily Volume I think this is the the bigger Point here is if this continues in terms Of daily volume then the pace in which We'll start to see this around maybe Gbdc starting to reposition their rate Which is still at holding it at 1.5 to Maybe try to is it going to be too late Is my question I don't know that's the Question I think everybody's asking Right now but Fidelity's F fbdc was Third right now at 171.8cm ion in volume gbdc came in at 292 and of course Black Rock was 303 so Big numbers right there on spot for sure In a good period of time now if you know People that are investing in Bitcoin Right now are they using ETFs or are They trying to get direct exposure Because I'm finding a mix between these We have our kind of our Mastermind group That we do in real life where we do high Net worth individuals business owners And we teach them about technology and And Bitcoin the one I had last weekend Was the biggest one yet that I've Conducted and everybody was talking About ETFs so and most of these business Owners were talking about going into ETF So I'm just wondering if that's where It's coming from right now Patrick Hansen who is one of the experts that Kind of covers the MAA situation over in
Europe is talking about the US Bitcoin ETF spilling over to Europe so these Last weeks coin shares Wisdom Tree and Invesco all announced fee cuts for their Physically back Bitcoin ETFs prices were Cut in half they're more aligned in Competition from the ETFs in the US so This is a worldwide phenomenon that's Starting to happen with these rate Cuts So what was happening in Europe from an ETF standpoint is now starting to have To get competitive because globally as I've said all along the market for these Types of products is the US the US will Lead the way with these and I think They'll dominate continue to dominate It's Wall Street it's going to dominate The world financial Market without a Chance going forward now there are some Things that are bad and I would say good And bad if you think about just the job Numbers here's a good example us added Let me kind of zoom in on that us us Added 353,000 jobs in January versus What was the expectation about 187,000 I put out a tweet uh today that Showed that along with some other Sentiment numbers go check my Twitter Just at Paul Baron uh but it goes into a Lot of detail around these plus the December jobs report was revised up from The 330 from the 216 so so we got a bad Jobs report in December I'm wondering if They're going to revise the current job
Report from the 353 up and if that is The case this would be a problem because This breaks a 10-month trend of downward Revisions has the economy maybe done its Reversal and are we now in a position Where it is up only I don't know this is Getting very interesting for sure Because you've got mixed mixed signals Coming in you've got PayPal among you Know a handful of other tech companies That have laid off over almost 150,000 Jobs in a matter of just the last 90 Days and that's something that will Continue I think of repositioning much Like what I think the tech companies are Doing which is figuring out that they Can do a lot more with less and that I Think May flow out into some good side Of things for maybe things like web 3 Which is meaning more devs and things Like that going in if they can afford Them people will have to pay take a pay Cut probably from those you know those Silon Valley jobs so this will be one to Watch kobc letter kind of hits on it uh Right here it's worth noting five rate Cuts in 24 is still far more than the Three that the FED is guiding basically Saying that we're going to do three most Likely and N mainly with what's Happening with these job reports I I Definitely think March is off the off The table May is still a possibility Considering the CPI numbers if we
Continue to see softening of the CPI but If we see a reversal on the CPI this is Going to get really sticky because Because rates are going to be higher for Longer going into a presidential Election and this will slow overall Economy growth but will it slow the Markets because the markets seem to be Kind of just pinning their ears back Going forward that's the real question Speaking of a little bit of that Justin Former president says he's gonna get rid Of poell listen into what he had to say Mr President back to the economy for a Second would you reappoint Jay Powell I No I wouldn't do that you wouldn't Reappoint him no uh Because he missed inflation uh he did Miss uh he did Miss but no I wouldn't be In who's your choice for fed chairman I Would I would have a couple of choices I Can't tell you Now I just wonder if uh Trump would fire Gendler that would be the one to go for But still a deal with reassessing here And I would agree I think pal is it's Not just nonchalantly we all know the Amount of rate cuts that we saw in a Short period of time caused the Ridiculous amount of inflation that we Got to experience personally and I think A lot of people have started to feel That magnificent 7 though has not felt That and if you look at them magnificent
7 market cap now equals GDP 11 major World cities this is coming in from Bank Of America at 12.5 trillion combined Market cap of Microsoft Apple alphabet Amazon Nvidia Tesla these are crazy and then meta Comes in and absolutely stuns the market With performance that I don't think many People anticipate I think a people Thought it would be better they didn't Realize how much better uh meta would Come in in fact they go into a little Bit more here on what meta's potential Is listening into this clip at $3,500 And possibly more because the case is About $200 and you might want some of The accessories and if you have glasses I mean there's there's a lot of this is A pricey item there's some add-ons there Are absolutely so you have uh the Oculus The quest over here this is the quest Three the quest three yep how much is That what's the price tag on that this Starts at $500 okay so today if you had An option between buying that and buying This that I know that the Apple folks Would say they're not in competition With that and I'm and I'm sure the meta People would say that they are not in Competition with this at the moment look Is it the same category absolutely but This is really like looking that those Early days where this is the Blackberry And that is the iPhone and that look
There's a much bigger price Gap right Now but when you put this on put this One on first right look through it here Right well this isn't powered on now you Whole thing but look feel it right the Weight i' I've used this before I don't Want you to throw it cuz I'm scared Throw it live on air here we go here we Go but you will feel the difference and It's just not comparable yes you can do More things actually right now in that Quest you can play more games you can do A lot more things but this is the plat Form that they're building on for the Future all right so platforms that They're building on for the future Apple Of course showing their cards around the Potential of what the Vision Pro can do I think this all plays in and then meta I think just stole the show and has Absolutely just crushed the idea of Where the market is going and that is More VR versus what we've seen in AR now It doesn't mean that Apple's product Isn't going to continue to climb and be An opportunity the question will be for Crypto is when do we actually see an nft Andor an in-game asset start to make its Way into arvr when that occurs some Winners will start to show themselves For sure now you look at Ai and you Think about the impact it's going to Have on crypto in general you can talk About all sorts of projects out there
That are in the compute layer things Like render which we talk about often Here listen into this clip because this Was a silen valley uh Ventures uh Investor talking about this uh I I think The last couple of years we always think You know has run its course thank God You're out here you know in in this part Of the world and in this business Because it's been the Magnificent 7 yeah And here comes AI it's just I mean You're in once again in in the C you Were you were in Cloud early what what's Most exciting to you right now well I Mean Ju Just to your point it's just It's kind of amazing you I've been I've Been in this business for almost 40 Years and every every time you think It's over something new comes along in This this AI boom is really something Foundational you know it's a lot it Reminds me a lot of you know mobile or Or cloud and it's it really is changing A lot of things and it's really driving U kind of a new generation of technology And I really think all right he hits on A few points there a new generation of Technology something foundational it's Kind of like what happened when mobile Really reinvented how Computing would be Done I think that's where we are with AI And what it's going to affect most Likely will be mobile Computing and also Arvr those are the two categories now
What in crypto is going to start to go Into the AI Direction watch out for that I think this is something you guys have To pay attention to because we're and we Probably will do more not probably we Will do more videos for you guys to Understand the number of projects that Are out there that could align with this Especially around the future of where Crypto is going all right couple other Things I want to hit on here's Patrick McKenry seeking to get measures to Repeal the sec's accounting bulletin Couple of points they wanted to hit on Here bipartisan support for uh this Sab 121 undermines consumer protection and Leaves customers digital assets Vulnerable and they're trying to get This uh repositioned I look forward to Getting this measure across the finish Line so good deal overturn it nation's Largest banks are now subject to the Highest level credential requirements Unfortunately significant Capital Requirements contained by the sec's Sab 21 have effectively precluded Banks from Being able to safely offer digital asset Custom Services what does that tell tell You guys tells you that the banks are Coming and if we get digital asset Custody services within Banks it's going To get competitive very quickly that Will be I don't know if this is going to Be good for coinbase or bad for coinbase
Going forward but I think the exchanges Are going to have to start to become What we've always anticipated and that Is become the bank when you think about Allcoins because this could be one of The factors that really plays into the Cycle of success around crypto this is What the last dip on altcoins did before 2020 having uh was a Black Swan 70% uh Looks almost flat a few years later uh And it is the moment that to load up on If you hadn't already done this so if You think about that this is what ELO is Talking about is this back here it's Almost insignificant compared to where We've seen these markets role and if you Look at back at where even projects like Salana Avalanche Etc back in the day are We going to see those kinds of breakouts And that's the question mark I think That a lot of people are asking right Now we already know That we're going to see kind of the Blue Chips these top 20 tokens do very well Question is which ones are going to be The next top 20 tokens that come out of Nowhere I'm watching for those if you're Not in our Diamond Circle get in now Because that's one of the places where We actually reveal those kind of things Do additional research drop some Additional content make sure and click The link down below and get in on that Of course if you guys want to catch me
It's out there on X at Paul Baron we'll Catch you next time right here on Tech Bath
