Well well well well well. we had a historic event because the Bitcoin ETFs 11 of them were just approved by the SEC and I want to get into what it means, where they could be traded, where they can't be traded. But most importantly, what does this mean for the value of Bitcoin Where is it going? and what are some cories in the past that we could use to compare about? Like where this can actually go? So here's what you need to know: Big Party Big big big big big party. This is basically what happened yesterday when the's approval caner massive massive party in the world of crypto, Bitcoin Rises tops 47,000 after SEC greenl launch of us Bitcoin ETFs we got the approval as I'm filming this right now Bitcoin is encroaching on 48,000 which means that Bitcoin itself has a market cap now of almost back to a trillion 93 billion.

and overall Crypto is back to 1.8 trillion and it's all because of Spot ETF So think about the older generation which don't forget Boomers right now control about 75 76% of all the investments in the market. All that money now if they so choose has access to the world of specifically Bitcoin not all of Crypto right now. Specifically Bitcoin Spot ETFs offer an easier and cheaper way to invest in. Bitcoin The SEC yesterday Wednesday approved creation of Bitcoin exchange traded funds allowing big asset managers such as Black Rock and Fidelity to jump into the market.

Investors will pay lower fees to acquire Holdings in Bitcoin ETFs than they would if buying Bitcoin directly through traditional crypto platforms. So black Rock's a big name, but none of this would have been possible without Grayscale. Grayscale is the company who basically grabbed the SEC and Gary Gendler and Drugg this over the line. so we would not be here without Grayscale.

Grayscale claims bragging rates for the first spot. Bitcoin ETF To begin: Trading Gray Scale's conversion of its 27 billion Bitcoin trusts into an ETF was finally proved by the SEC yesterday. Wednesday Grayscale, the manager of Gbtc is claiming bragging rights for being the first of the newly approved crop of spot Bitcoin exchange Trad funds to begin trading I'm happy to confirm that Gbtc started in pre-market trading at 4:00 a.m. ET This morning, Grayscale's conversion of its 27 billion Bitcoin trust into an ETF was finally proved by the SEC yesterday, one of the many app.

An approved by the US Markets Regulator for the first time, marking a historic milestone in the cryptocurrency industry. And if you're curious about where this could all be trading, here's the group of the 11. So right now, Black Rock and Grayscale are kind of the two that are getting the most. Buzz The most excitement.

Uh, Fidelity is huge just because there's so many retirement accounts with them. And then Arc is also pretty big just because Kathy Wood is actually a massive supporter of not only disruptive Tech but specifically Bitcoin She just came out publicly stating in a recent interview that a quarter of her own wealth is actually in Bitcoin and then Bitwise is getting a little bit of a buzz too, because they actually have the the cheapest fee in terms of the ETF management. But anyway, here are the 11 companies and here are the 11: Associated ETFs for a spot Bitcoin ETF What has the highest correlation to this particular circumstance is gold. At one point goal is super volatile.

Everyone liked it. store a value a way to fight inflation. and at one point point there was enough demand. and finally it got regulatory Clarity to also have spot gold.

ETFs So I'm not saying it's the exact same thing, but I think there's some Fair correlations. Now the Tldr on this part is gold before the spot ETF and after it, it went from a$2 trillion asset class all the way up to 16 it 8 xed its market cap. Why are Bitcoin ETF such a big deal? Gold provides a hundred billion Answer: Gold ETFs revolutionize the gold market and spur to Giant rally. Can Bitcoin ETFs do the same? No one really knows.

but I think the fair assumption is yes. Gold ETFs Transformed the gold market two decades ago, sparking a huge rallying gold price and some experts think the Bitcoin ETFs could do the same thing. Standard Chartered Sees Bitcoin price doubling to 100,000 this year. This one is going to go Gang Busters And this is referring to gold with the gold spot.

ETFs When speaking about gold, ETFs It opens up a new asset class to investors. He was right over 100 billion is now stashed in Gold ETFs that trade in the Us the world's largest. Capital Market They have made investing in the precious metal as simple as clicking the buy button in a plain vanilla brokerage account. No vaults or armed guards needed.

So basically when you make it easier, there's most likely going to be more money flowing in. And that's really what we're seeing going to happen in real time today with Bitcoin Gold Sword after Gold ETFs were introduced two decades ago Standard Charter The Global Bank views this as a relevant history for Bitcoin ETFs Gold's price were more than quadrupled in the 7 years following the 2004 for introduction of the Us, We expect Bitcoin to enjoy price gains of a similar magnitude as a result of Us Spot ETF approval, but we see these gains materializing over a shorter 1 to 2ear period. given our view that the BTC ETF Market will develop more quickly. The Firm sees the price of Bitcoin rising to 100,000 by the end of this year 2024 folks.

And then right here you can see exactly what happened with the value of gold. so it was approved in 2004. This was the average value of gold and then it just skyrocketed in the preceding year. So I'm not really actively trading this.

I Don't really think many people should be actively trading. It's more of like, okay, where's the big Vision where does Bitcoin fit into the global monetary system? And if you have a positive, bullish, longterm view, that means you're just kind of white knuckling it, you're hling it. But uh, if if this is a reasonable corollary, and I believe that gold is comparing to what's going on with Bitcoin right now I think the next couple years are going to be very, very exciting. So for quite a while we we just like weren't getting this and it had to do with the SEC not wanting to approve and I found some interesting information.

Uh, it turns out Gary Gendler and he's a person I'm not a fan of. He was actually the deciding vote that got this approved. So first of all, even though he was the deciding vote that got us the approval, he's still salty as could be. I mean check this out.

Uh, though were Merit neutral I Note that the underlying assets in the metal etps have consumer and Industrial use. this is talking about gold while in contrast, Bitcoin is primarily a speculative, volatile asset that also used for elicit activity including ransomware, money laundering, sanction, evasion, and terrorist financing. So the salt level is maxed out. but even with the salt level being maxed out, Gendler voted to approve Bitcoin ETFs Despite public criticism, right here, there was five people who voted.

Gendler said yes, approved, He was the deciding vote. Uh, Pierce who's been a longtime crypto advocate approved it. and then we had another approval as well. but Khaw and Liz Liara I don't know how to pronounce it, said no.

How Wild is that? Unsurprisingly, the two Republican Commissioners voted to approve the ETF Also, unsurprisingly, the two Democrat Commissioners voted to deny American investors the opportunity to access the asset that has been created More millionaires than any other in history I Don't understand why, because generally the Democrats like to take on The Branding image of hey, we're fighting the Big Wall Street criminals. We're on your side, We're helping the little guy out. That's like The Branding that Democrats like to take on. But yet in this scenario, it was the two Republicans with Guzzler being the deciding vote that said, yeah, no people should have access to Bitcoin, which fairly enough, has made more billionaires than any other asset class in recent history.

But then the two Democrats said no and then I start to think about what's going on with Elizabeth Warren Who, whatever reason, absolutely hates crypto and thinks that every illicit thing in the world, world, every nefarious and moral thing in the world is only because of Crypto. That's seemingly how she acts. She's completely against it. But anyway, these are the two people who are saying no, you shouldn't have access to Crypto.

You shouldn't be able to do what you want with your money. Absolutely insane I Just found that a bit surprising. so I wanted to share it with you. But most importantly, I wanted to just celebrate with all the other crypto enthusiasts.

Uh, obviously it's been high volatility. There's been fun upsides. There's been pretty sad downsides, but it looks like we are now officially back on that upward trajectory. Last but not least: I Want to thank me all cryp holders for believing in me I Want to thank me for doing all this hard work I Want to thank me for having no days off I want to thank me for for never quitting I want to thank me for always being a giver and trying to give more than I receive I Want to thank me for trying to do more right than wrong I want to thank me for just being me at all times Snoop Dogg you a bad.

That's literally all crypto holders as of this morning. and honestly, you should be thinking yourself because you have the balls to put your money on the table and it paid off in your favor. So congrats to everyone who held through all the craziness.