CRYPTO: "Bitcoin to Triple," SEC *BANNED,* & ETH ETF NEXT!

so many catalysts for crypto but Black

Rock just started the process for filing

an ethereum spot ETF woo it's happening

let's get into the video holy smokes

there's talk about Bitcoin tripling I

think next stop 42,000 Tom emmer just

threw in a wild Amendment into a house

resolution for financial services

spending let's start there this is wild

look at this this is HR 4664 Tom emmer

who's been a big crypto supporter page

30s what you want to go to drop on over

to page 30 what are you going to get

here look at this section 131 this is in

a proposed uh legislation document here

uh it is again an Appropriations

document which is just a way the

government sends money for building out

Financial Services uh funding things

like finsen the financial crimes

enforcement Network and otherwise but

right here section 131 on page 30 Tom

emmer slipped in this amendment language

right here none of the funds made avail

ailable by this act may be used by the

Department of Treasury to establish a

cbdc a central bank digital currency or

discontinue the circulation of paper

money as legal tender in the United

States now that's a big deal because we

know the FED has been working on a

stable coin we Central Bank digital

currency right we know they're already

working on it and studying implementing

a cbdc a lot of people think that's

going to take away any semblance of

privacy that we have left with the good

old Fiat which we could use for nice

purposes like

tipping but folks beyond that cbdc is

something that a lot of people think

could be that tool to control Our Lives

control our spending tax us more surveil

us more and ultimately at the flick of a

switch decide to not only censor our

speech but censor our spending ability

it's why a lot of folks are fearful

about a central bank digital currency

and this amendment would actually

prevent the Department of Treasury from

establishing a cbdc now I find that

really interesting because it doesn't

prevent the fed from continuing Research

into a cbdc given that Department of

Treasury is different from the cbdc and

the irony here is that the Department of

Treasury can basically just issue bonds

the FED prints its own money and it

could use some of that so there are ways

around this but let's be clear the

implication here is that there is some

support in Congress growing for

preventing the growth of a cbdc but in

addition preventing the circulation of

paper currency now there is also another

amendment that he threw in here uh

Congressman Emer and it was the idea

that the SEC should not be responsible

for regulating crypto and instead nobody

should be responsible for regulating

crypto until Congress decides who should

be responsible now that's kind of like

this I feel like because one of the

problems we've had a lack of regulation

in crypto is because nobody's taken

responsibility for it quite frankly it's

congress's job to pick somebody so like

just pick somebody already but now the

amendment is turning into well anybody

but the SEC will let you know who when

now again that's not passed yet but

that's somewhat what's going on in the

legal world now what about BTC well

obviously a lot of enthusiasm about the

Bitcoin ETF there are 12 of them the

window open today for getting BTC uh BTC

spot approval on one of these ETFs would

be a big deal it would finally mean

institutions don't have to suffer the

lockups of like a grayscale Bitcoin

trust it means you could potentially get

the reallocation tax benefits within

ETFs that start allocating to various

different cryptocoins which is a big

deal big hack inside the ETF ecosystem

all of these here though are are spot

ETFs so when you really get those

benefits is when you get like a bit coin

and ethereum ETF and you can allocate

within them that would be amazing

especially if you could do so in a tax

beneficial way which you can with ETFs

that could be a long-term game Cher for

uh ETFs but it all starts with one spot

ETF and that's the Bitcoin everyone's

going for here you've got the uh you've

got 12 of them here you can see black

rock is not on refiling yet grayscale

Arc bitwise vanac Invesco they're all on

refiling for the spot ETF black rock is

usually deemed as the one that if

somebody's going to get an ETF through

it's them they've done over a hundred

different ETFs and they've gotten

approval on all but one and that one

that got denied was denied on a

technical basis and they ended up

getting it approved so they basically

have a 100% pass rate on getting ETFs

approved which is absolutely remarkable

and it's creating a lot of excitement

and dare I say the sord speculation that

maybe Bitcoin could actually trip in

value take a look at this here I I uh

saved this as a PDF here just because I

want to show you the bottom line but

just to shout out the user it's the BTC

archive and what they're arguing here is

that if you could move just 1% of the

entire 200 trillion doll ecosystem of

the financial system in the world if you

could move just 1% to BTC that would

give you a $2 trillion

allocation compared to the 670 bill in

where we sit now now their quick math

assumes an additional 1% but either way

with an additional 1% they're arguing

much like Michael sailor who says hey

look suppli is going down essentially

right while at the same time like in

other words the rate of growth of supply

for BTC is coming to an end eventually

we'll have mined our last BTC and that's

it now there's a limit to how much is

available and If at the same time demand

goes up then price has to go up a lot of

enthus iasm right now circulating and

that's why I think we're seeing I mean

it's obvious we're seeing this dramatic

run in BTC here uh Tesla down 6% while

coinbase up 6% uh this heavily driven by

interest rates on Tesla and BTC for

coinbase which I have to say Kathy Wood

played a little bit of 4D chess over

here not a bad move look at what she did

she's been quietly selling Tesla and

acquiring coinbase

and of course her custodian for her ETF

is coinbase so it's almost kind of like

we get our ETF we bring more business to

coinbase then our coinbase stock goes up

kind of a brilliant 40 chess move there

not a bad move Kathy would but I have to

say uh there is so much enthusiasm right

now for BTC pushing up right now we're

struggling in no man's land to break

that 38,000 level that we just hit yes

just actually within the last 20 24

hours here uh now we're struggling just

above that 36 uh level which is one of

our FIB retracement levels I personally

think we'll probably push up to about 42

before we really get rejected in Earnest

again I do think there is some near-term

downside risk though after ETF approval

mostly because I think the available

Capital to actually inflow into BTC will

exhaust itself relatively quickly within

about the first week of these ET

approvals and we'll probably see a

little bit of a momentum bleed and maybe

a retracement so personally I think

there could be an opportunity and it

depends how markets move but if we get a

bad CPI or jobs report between now and

the end of the year I wouldn't be

surprised to see a pullback in Risk

assets let's say the ETFs are approved

we get a pullback to maybe 30k could end

up being an entry point as as we drop

back to one of these fibs somewhere

either the 28 FIB or the support line

around 31 somewhere around there

wouldn't surprise me and then we're

looking for that longer term volatile

Nike Swoosh of just risk assets I

believe that's likely especially as

expectations of inflation cool remember

even though originally in the cycle

Bitcoin was believed to be an inflation

hedge I don't see it as that I see it as

more of a diversifying risk asset and

that's what we're getting in BTC in my

opinion so what does that mean rates

down BTC up if it's then with a Bitcoin

ETF great that could drive some inflows

right now we're getting short

liquidations pumping the price

temporarily that's I think why we went

to 38k few hundred million dollars of

short Liquidations in the last 24 hours

but what is it re when does it really

get interesting in my opinion it really

gets interesting when you could get

Diversified ETFs so an ETF that has

maybe some uh eth some uh Ada uh you

know whatever all the different alts or

various different alts you can get an

ETF here that then can in a tax

efficient manner reallocate within it oh

that would be delicious that's the way

to go in my opinion for long-term

investing uh and we'll find out how it

ends up uh coming through in the next uh

well hopefully 40 days here we are in a

9-day window now but Bloomberg

intelligence is providing an over 90%

chance based on their opinion of course

but also their analysis uh that will end

up getting a Bitcoin approval a Bitcoin

ETF approval within or before uh the

second week in January at the same time

now Hong Kong looks like they

potentially want to try playing catchup

Hong Kong mulling allowing a spot crypto

ETF in pursuit of an Asia Hub really

interesting given the bans by China of

course Hong Kong an autonomous region

semi-autonomous uh W within China so

they have sort of their own Playbook uh

but uh interesting to see that contrast

between China and Hong Kong uh although

not surprising since you're

substantially more capitalistic in Hong

Kong so that gives us some pretty

substantial updates here and uh exciting

things to look forward to one more thing

I want to say is I listened to the

economist's podcast interview with Cy I

have to say I I mean I've had my

criticisms of Cy but I have to say it

was a good interview he did a great job

he was very professional uh and one of

the things I thought that was very

interesting about what he said was with

crypto this last year has really been

about recovery we haven't even really

seen much product innovation or coin

Innovation we're still in that

developing cycle for crypto and this is

just the normal sort of up and down

movement of crypto as we wait for more

development and more project expansion

so uh he sees this as nothing major

happening this year it's a recovery year

it's okay this is normal in the cycle

it's normal in the process so honestly

had to say interview with CZ pretty

impressive so good job Economist anyway

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more about those price goes up Friday

evening thanks so much and we'll see you

in the next one goodbye can not

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here I feel like nobody else knows about

this we'll we'll try a little

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congratulations man you have done so

much people love you people look up to

you Kevin P there financial analyst and

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