Let’s have a look at some facts that make me think that way. First off, we know that Bitcoin is 9at least for now) in the drivers seat when it comes the general direction of Cryptos. So let’s start with Bitcoin.
Me, I’m just a random guy on the internet so my take or what I think is completely irrelevant. What is relevant on the other hand is what BlackRock thinks.
Simply put, BlackRock is the biggest asset Manager in the world with roughly $9 trillion AUM (Asset Under Management). To put things into perspective, this is about 40% of the US GDP or more than 10x the annual military budget of the US.
As most of you know BlackRock wants to launch a Bitcoin SPOT ETF. An SPOT ETF means that they have to hold and buy Bitcoins for their customers interested in the fund. And they will be audited for that. Most people here might not care about a Bitcoin ETF because most would rather hodl their Bitcoin in wallets BUT you can be sure that if BlackRock is looking at launching a Bitcoin ETF it’s because a lot of their customers have been asking for it.
BlackRock did not become the biggest asset manager in the world by taking rushed decisions. You can be sure that their CEO along with hundreds of very qualified analysts have been looking at this for years before making it public. They are experts, it’s their job to make these kind of analysis.
BlackRock is not the only fund manager requesting a Bitcoin SPOT ETF. There are many others and when looking at the US only they represent around $20 Trillion AUM. They are all launching Bitcoin Spot ETFs because their customers have been requesting it. With so many of the biggest US fund asking the SEC for an approval for sport ETFs it’s just a matter of time before it gets approved.
When they get approved and if those massive fund put 0.5% to 1% of their AUM in Bitcoin the game will change (keeping in mind this is the US only and other countries are also launching the sport ETFs). This is happening at a time where the available supply of Bitcoin on exchange is going down for the FIRST TIME since its launch (easy to fact check with OnChain analysis). Yes, this could revers quickly but it suggests the general mindset of Bitcoin investors is more Hodl than “be ready to sell quickly”.
With the next halving around the corner (April 2024), we could see a bigger supply chock than we have ever seen before (compounding all of the above). This could easily send Bitcoin to new All Time Highs. And with it most of the valuable Crypto projects.
I say most of the valuable crypto projects because yes, we have to be honest, a lot of them are worthless scams. A lot of due diligence should be done before investing in any cryptos, particularly around their Tokenomics to avoid the scams. I for one, would welcome regulation that protect investors from those obvious scams that damage the image of valuable projects.
The launch of those Bitcoin Spot ETF IS A TOTAL GAME changer. For better or for worst. We can already see other Crypto Spot ETF being request such the ETH Spot ETF from ARK. It’s just the beginning. Big players will aim at controlling Bitcoin as much as they can for their own benefit. They are even investing massively in Bitcoin Miners. Why? Because to control Bitcoin they will need Bitcoins, YOUR Bitcoins.
I say your Bitcoins because 19 of the 21 million have already been created. They will want A MAXIMUM of the total volume to be able to control it. So don’t be fooled by short price movement. Tinfoil hat theories would have it that they might even try to manipulate the price to get as low as possible in the short term to be able to buy before the next supply shock. A little recessions might even help them achieve just that in the short term??
Avoid as much as possible all the noise that come from influencers. Trust that the biggest asset managers in the world are coming into this game for a good reason and that's to make money.
So, stay humble, stack sats, if you are comfortable with it consider self custody, above all DON’T SELL and be patient! Enjoy the ride because facts suggests the game is about to change completely.
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