Breaking News as of this morning: Black Rock Filed an updated version of its Spot Bitcoin ETF application with the SEC So we're seeing this from: Black Rock Grayscale Ark All these major players who are attempting to be the first one to get the spot Bitcoin ETF They're all making subtle and pretty frequent updates to their filing, which is kind of showing that maybe we're getting close and most analysts in fact I think Bloomberg analysts are saying there's a 90% chance that we're getting a spot Bitcoin ETF in early 2024 and obviously I'll be explaining the importance of that in a second. but more on. Black Rock Black Rock received $100,000 seed funding for Spot Bitcoin ETF The unknowned seed investor agreed to purchase $100,000 shares on October 27, 2023 of Black Rock's latest filing revealing the seed Capital Investor agreed to purchase $100,000 in shares on October 27th 2023 and October 27th 2023 took delivery of 4,000 shares of per share price of $25 The quotequote seed shares seed Capital represents the initial funding that allows an ETF to fund the creation units underlying the ETF so that the shares can be offered and traded in the open market. So once again, these are all little indications little inklings that we're getting closer to this being a real thing.

This is just the normal process of how things play out, and obviously it's a bit in the weeds of how ETFs come to life. but this is an important step that Black Rock obviously pulled off in October Black Rock's proposed Ey shares Bitcoin Trust will invest in Bitcoin rather than Futures tied to the leading cryptocurrency and is one among 13 applications awaiting regulatory approval. So just an important sidebar here. Yes, Bitcoin Futures ETFs already exist.

The difference between that and a spot Bitcoin ETF is what is the ETF in an exchange Trad Def find an ETF. Think of it as a basket of something so you have to ask yourself what is the something. In one case you have a Bitcoin Futures ETF which is investing in Bitcoin Futures and the importance of that is it's not Bitcoin itself. It's not like the ETF is going out and buying Bitcoin it's buying Bitcoin Futures which is Cash settled.

as in it's just the net difference of it going up or down and not physically settled which is actual Bitcoin and that's what the spot Bitcoin ETF is trying to take care of of the money into the ETF. The ETF goes out and buys actual Bitcoin. So very important there of just like what is truly in the actual basket and then on top of that with the approval and I've talked about this a lot, it's just more regulatory. Clarity It's the Comfort level of Wall Street being able to get into this because it's the whole SEC Gary Gendler the fighting in and out of the whole will.

he won't he like. Is it a security? Is it not a security? Are we allowed to invest? Are we not allowed to invest? But it seems like there are being sort of many many legal losses and this it seems like the time is ticking and we're going to have one hopefully in the near future. The SEC is widely expected to Greenlight one or more spot ETFs early next year The probability of an improval according to Bloomberg in January at 90% Big winners of this across the board. but one specific big winner is the country of El Salvador El Salvador's Bitcoin investment is now in the black.

According to the President, we have no intention of selling. We have no intention of selling. That has never been our objective. We are fully aware that the price will continue to fluctuate in the future.

This doesn't affect our long-term strategy of basically dollar cost average. As you can see from all these green marks, purchase, purchase, purchase, purchase. this is the definition of dollar cost averaging and then they're hoping in the future that just continues to grind to the upside. It's a smart move because obviously Bitcoin being digital gold, a safe haven, a store of value, a way to battle inflation which is an aspect of monetary policy that has been very very much hurting the country of Salvador.

We're seeing that right now with the country of Argentina Turkey I mean the inflation is rampant. Yes, the inflation in the US is horrible, but look at some other countries. Absolutely crazy to the point of putting the financial system within the country on tilt. so they're looking for a better alternative.

A better monetary policy, which you could safely argue is Bitcoin. But anyway, back to El Salvador Yes, the country, the leadership, specifically the president time and time again called out by many forms of media calling them how stupid they were for doing it. But hey, guess what, they're now in the green to the tune of being positive by $3.6 million on a $131 million investment. So that's one big winner.

Another big winner is Coinbase. Before we get into this particular article, let me actually just give you I guess some reference not that long ago start of November We'll just go over the past month month in some change. Coinbase ticker symbol C I N is up a scorching 87% So obviously Coinbase uh, a well-respected exchange brokerage here in the US led by Brian Armstrong making a good recovery as excitement comes back into the world of crypto, Coinbase's rally still has legs. According to chart analyst, shares of the in the cryptocurrency exchange have rallied nearly 300% this year, and the latest sharp pattern suggests further gains could still be in the offing.

In my opinion, if Crypto continues to go up, Coinbase will continue to go up. Shares of the listed cryptocurrency exchange. Coinbase have served nearly 300% this year, outperforming leading cryptocurrency Bitcoin by a significant margin. Further gains could be in the offing, as coin is on track to confirm a long-term base pattern breakout.

According to the analyst, coin is likely to confirm a long-term base breakout this Friday above near term resistance of $116 The breakout is a positive long-term development, suggesting that the primary trend has shifted higher. According to the analyst, the base break breakout has opened doors for a rally toward resistance at 160, potentially 200. And what they're looking at is basically the fact that coin got absolutely destroyed in the crypto winter. then we went sideways.

a lot of accumulation, and now we're breaking above the resistance at 116, leading to a push probably around 150. Next up, I'd be looking at 200, but obviously it's going to go the way of specifically Bitcoin and the whole crypto sphere. But now with Bitcoin looking so good I mean it's market cap of BTC it's self above $800 billion. That's billion with a B.

There's a lot of optimism now. I Don't know if I would necessarily chase at this point because generally you see these waves to push to the upside, a bit of consolidation and then another wave. So I'm not personally too interested in chasing the wave I Like to wait for the consolidation, like to have a risk point to Anchor off of and then look for that continuation so just want to share with you the most recent news in the world of crypto specifically Bitcoin and all the recent Mega Mega winners because of the movement to the up UPS side, if you ask me. I Think that this bullish momentum will undoubtedly continue in the medium to long term.

No one really can predict the short-term movements. It's a very, very tough thing to do. But yes, I'm invested in Bitcoin I'm invested in Ethereum for the Long Haul because I think in the long term when the world realizes how much of a comical joke our monetary policy and central banks are not just in the US but globally I Think more people are going to want these stores of value. Looking at things such as digital gold AKA Bitcoin and actual gold like the Phys physical commodity, obviously, let me know your thoughts.