hello folks you have reached the cryptocurrency portal and today we're going to go over some information about Bitcoin which a lot of information came across for the last couple days and a lot of it's very interesting so let's dive in together this first one says financial Titan fidelity they're revealing that Bitcoin and cryptocurrency adoption among institutional investors is on the rise now what I always say is follow the money these institutional players are going to be in something so risky as they go out on the risk curve too much because there's a lot of money behind there's fiduciary responsibilities yeah that's one thing if the average Joe just throws a thousand bucks in they don't have the same fiduciary responsibility but institutional investors are getting by that means they're feeling more comfortable about the space fidelity digital assets the bit coin and crypto treating and custody arm of fidelity investments which manages over seven trillion dollars in client assets says institutional investors continue to be interested in BTC and crypto currencies so in a series of tweets the firm reveals some of the findings of its annual institutional investors digital asset study conducted by an analytics firm Greenwich associates now according to fidelity and here's their quote the results suggest that digital assets continue to gain adoption and interest by a variety of institutional investors I think that's interesting way to put it they continued not just started not that they went down and went back up because of geopolitical things going on but they continued so it's a momentum and soon it will be FOMO the results from last year's study show that four and ten institutional investors are willing to invest in digital assets over the next five years of the institutional investors surveyed at the time 72% prefer buying investment products that hold digital assets 57% prefer buying crypto assets directly and 57% prefer fine investment products that hold digital asset companies fidelity says research will help the industry understand the obstacles that are preventing the adoption of digital assets while also outlining the factors that institutions find most appealing about them ding-ding-ding one of the issues is regulation we need regulatory clarity in order to move and propel this this space forward we talk about that all the time on this channel folks and I'll even leave a comment or link to it in the comment section below about regulations in general so we can check it out but I've always said that we need more regulations we need more guardrails in place once more guardrails in place then more institutional and big money will come in which will create more FOMO and more retail investors will want to get in then all right they say our findings will highlight the fact that institutions cannot be summed up as one segment and that access to digital assets cannot be as simple as one product or asset offering fidelity plans to release the results of the institutional investors digital asset study later this month that's a mouthful institutional investors a digital assets study all right so let's continue now I thought this was interesting back to back Adam back says Bitcoin targeting 300,000 with or without institutional investors so institutional investors are getting in according to Vitaly he is doing a little price prediction the claims will be with or without institutional investors it just kind of shows from two ends we don't like to press predict on this channel but it's always interesting to see why people are saying certain prices analyze what they're saying and then reflect on it in the future to see how it's correlated in the future so block stream CEO Adam back says he believes retail investors alone can push Bitcoin to 300,000 per coin that's interesting because there's so much is so much uncertainty in the in the whole United States and the world people don't know where to turn they're scared out there and the finances and the economic system is a standstill so a lot of people are looking to other avenues in order to invest Bitcoin and cryptocurrencies are a logical place and a new interview with Bloomberg the crypto pioneer says he's as a big believer BTC as ever to this day he's still mining the top cryptocurrency and never sells his holdings Wow hashtag Hodel back who correspondent was Satoshi Nakamoto and created a proof-of-work system before Bitcoin was invented points to the coronavirus and the increased printing of cash is two factors that are changing people's perceptions about money so true one on a very basic level people I've heard hate touching cash anymore because they think it has a lot of germs which it does have a lot of germs but could but could have viruses I don't know if it really can but you see why people are afraid of it because of what's going on in the world but on a bigger point that small point increased printing the cash the uncertainty in quantitative easing and the feds can in central bank's continue to print money in mortgaging the future so people are saying this is gonna pop one day so where do I put my money a lot of a lot of them are to look into Bitcoin and crypto he says retail investors alone will likely push BTC to $300,000 within five years whether or not large institutional players decide to jump in I mean if he has a five-year range there I know by then we just heard from fidelity but by then a lot of institutional players are gonna get involved so it's going to create a lot of momentum in the space his quote is it might not require additional institutional adoption because the current environment is causing more individuals to think about hedging and retaining value when there's a lot of money printing in the world back says a recent critical take on Bitcoin from goldman sachs contains a number of misconceptions on scarcity and shows still early days for the crypto markets he also denies increasing speculation that he is the legendary anonymous creator of BTC known as Satoshi Nakamoto it's always interesting I know that's almost like it's just have fun to try to figure out who Satoshi Nakamoto is he or she or what entity satoshi nakamoto is I actually did a video on the original Bitcoin white paper by Satoshi Nakamoto that's now almost it's about eleven years old I'll put a link in the comments section below let me know what you think or who you think Satoshi Nakamoto it is but he responds says no I am NOT it's generally viewed at this point as better that the founder of Bitcoin is not known because a lot of people have hierarchical mindset because bitcoin is more like digital gold you wouldn't want gold to have a founder for bitcoin to keep a commodity like perception I think it's a very good thing the Satoshi stays out of the public interesting way to think about it I know that everyone wants to know the Satoshi is but there is a movement out there to keep it quiet even if you actually knew who it was and that's a very good point right there because you just like gold Gold doesn't have a founder and for Bitcoin to keep it commodity like perception it's good to have this person stay anonymous all right let me know what you think in the comment section below about that okay Swiss bank since we're just talking about Goldman Sachs Swiss bank says Goldman Sachs is wrong about Bitcoin and predicts crypto paradigm shift is coming so a swift Bank is responding to a recent report from Goldman Sachs that declares Bitcoin is neither an asset nor a suitable investment Swiss codes head quotes head of digital assets Chris Thomas released a point-by-point rebuttal to the report he begins with a comparison between bitcoins volatility and wild swings in traditional markets he says absolutely Bitcoin did fall 37 percent on March 12 2020 in just one month later oil markets plunged three hundred and thirty three percent in the space of 24 hours nearly ten times a greater drop touching a low of minus fifty forty dollars per barrel at one point I think that was just the futures portion in December of 2019 Goldman Sachs predicted average oil price through 2020 would be 63 dollars a barrel I mean it's a good point I mean maybe it's it seems volatile because people follow those volatile headlines but the reality is the markets been as well now regarding Goldman's a certain assertion that investments should not be reduced to a need for others to pay a higher price thomas responds that traditional markets also function on an assumption of capital appreciation and the quote here is the ultimate decision to buy or sell comes down to whether we believe the price will go higher lower and hence whether someone else is willing to pay a higher or lower price for the investment vikraanta and select others are the driving force behind the paradigm shift which is happening Goldman Sachs is ignoring the strong foundations of this emerging asset class based on Krypton cryptographic principles any world where many if not all assets will be tokenized and treating them will be democratized as for the long-standing narrative that bitcoin is primarily a tool for criminals the Thomas points out that the chain analysis concluded in a January 2020 report that only 008 percent of crypto transactions originate from the dark net markets and the criminal activity represented just 1
1 percent of total activity now obviously well here we go Bernard Mita Madoff 65 billion dollar scam in the fiat world dwarfs scams in the cryptocurrency world in terms of magnitude he contends lastly Thomas says the fact that major financial institutions such as fidelity which we just talked about and JP Morgan are confident enough to venture into the space shows that financial institutions do believe that cryptocurrency has a future although security and the management of private keys remain challenges in the crypto space Thomas argues that banks such as Swift quote maintain security you know can also solicit deposit insurance in case of hacks all right so let me know in the comments section below what you think of those thoughts from mr Thomas now what I also thought was interesting we just went over this but the crypto transactions originating from the darknet 008% now that's too high 11 percent of the total activity is too high we need to root out all the evilness and all the shady transactions north of the average Joe to want to get involved but just think of all the shady transactions to just have them of cash they never talked about that they was talk about the dark side of crypto when really you have a dark side with cash too it's anonymous and people do nefarious things with cash and drug dealing and things like that so they're pretty equal and I bet there's probably more scams in cash anyway continuing along here Bitcoin could reach twenty thousand dollars this year says Bloomberg strategists again we don't like to price predict on this channel we just kind of go over the analysis what I really thought was interesting about this this is Bloomberg jumping in when you get the average everyday average Joe kind of information that is watched by the average Joe like Bloomberg or CNBC and they start talking about it that's when he seeps into the psyche of the average investor so here the quick three-point takes Bloomberg intelligence strategist Mike McGlone expects Bitcoin to reach 20,000 per coin this year next bullet McGlone said both technical and fundamental factors are supporting that view next bullet the strategist also expressed expects tether to surpass either in terms of market share so Bitcoin is expected to continue rising and reach $20,000 per coin this year according to bloomberg intelligence security commodity strategist Mike magloan both technical and fundamental factors are increasingly favorable for Bitcoin McClellan said in a new report published on Wednesday and I'm going to show you the link to the report as well it's 11 pages some of these factors include bitcoins maturity against other investments rising futures open interest and more binding hold interest from institutional investors and we just talked about institutional investors magloan said something needs to go really wrong for Bitcoin to not appreciate he expects Bitcoin to even possibly touch 28,000 now Bitcoin ended 2019 at about 7,000 per coin near the bottom of its range favoring a shift toward the peak last year the high was about 14 thousand which would translate into almost double in 2020 if rotating within this recent band so if you want to check this out just kind of pause the video and kind of check this out this is from Bloomberg intelligence the corona virus pandemic and central bank easing or accelerating bitcoins maturity and reducing volatility said and glown adding Bitcoin volatility is about two times that of Nasdaq it was closer to seven times when the crypto price and index first cross paths in 2017 another factor supporting Bitcoin is rising buy and hold interest from institutions as indicated by the growth in Bitcoin futures open interest and assets under management of grayscales Bitcoin Trust said McGlone now recently reaching about 50,000 bitcoins futures open interest isn't a large portion of the total supply but futures are significant as a primary gateway for the benchmark crypto to become a mainstream asset class of the strategist as for gbtc AUM growth McClung said an increasing AUM of the trust has consumed about 25% of new Bitcoin minds versus less than 10% 2019 the rapidly rising 30-day average of G B D CA um near 340 thousand and Bitcoin equivalents about 2% of the total supply about two years ago it accounted for one percent so just more and more momentum which is fine we'll stop there here I just thought this is interesting cuz this is this is what they actually the analysis that he was referring to it's 11 pager it's on Bloomberg LP org go to their website I will put a link in the comment section below to this 11 page little article that he was just referring to but I just thought it was interesting it's on Bloomberg as well speaking of Bloomberg if you go to Bloomberg calm backslash crypto as criminal page now so think about it they're doing an analysis about the crypto space they have analysts that are analyzing and doing reports about it and now they have their own crypto page so you know the the FOMO is coming folks okay eerily accurate crypto analyst says Bitcoin breakout to 150,000 will begin on this date I always love when they call an exact date because they're either right or wrong on that date and then you can reflect on it's not some well one day in the future I think it's going to do this they're gonna point to some very specific things all right we'll listen we don't price predict but we analyze what you say to try to find some correlation in the future one of the few crypto currency analysts who correctly call bitcoins 2019 pullback says he believes BTC is gearing up to a finally eggs a long term bear trend that began about two and a half years ago in a series of charts Dave the wave highlights bitcoins movements inside a symmetrical triangle dating back to late 2017 since Bitcoin failed to break above ten thousand three hundred earlier this week Dave now expects a BTC to reach a low of about 6500 in September before finally breaks out of the trend for good by April of 15th of next year tax day then you can pay your taxes Dave is closely followed in crypto circles because he was one of a few strategists who told traders back in June of 2019 with Bitcoin was training 13,000 to prepare for a significant correction he predicted that BTC would fall to a low of 6,000 range by the end of the year BTC ended up hitting a bottom around 6400 in December Dave now believes that the crypto King is preparing for a long term parabolic rally to 150,000 hitting a peak sometime in 2023 well he I guess he is predicting three years from now but they still forward momentum the analyst says bitcoin is poised to benefit from fiscal stimulus and increased money printing which will talking about as the central bank's keep that quote monetary easing continuing more qualitative easing quantitative QE he believes the predictions that hyperinflation is coming up are overblown instead he expects the dollar to remain relatively strong compared to other currencies as an overall as oh and overall fiat devaluation occurs and this quote is many think hyperinflation based on simple monetary theory is the key that unlocks mysteries of the monetary universe in reality it's an ideological for ideology for lazy minds so here's Dave the wave follow him on Twitter yes not a conventional deflation which would have everything Center on the dollar more nuanced than that I call it hyperinflation where a financial assets deflate relative to the strongest currencies USD than gold and BTC BTC is the wild card here in that scenario all right so grayscale buys enormous amounts of Bitcoin as Libra revamps a revamp eternal crypto market analyst so this is just grayscale you know more forward momentum we won't go through all that I just love seeing all these positive highlights about the space here says Bitcoin trading volume will match major asset classes of historical growth continues this coin metrics coin metric says it passes prologue it won't be too long until bitcoins trading volume matches other major asset classes sing so you can check out here where it's talking about the daily Bitcoin volume what's the spot market here so there we go so next is powerful bit coin and crypto proponent Hester Pierce nominated to second term at sec so I've actually done a video about Hester Pierce and her views on crypto regulation I'll put that in the comment section below but let's go through this latest cuz that's great that this crypto mom knows what we like to call her is going to continue at the sec so popular bit coin and crypto advocate Hester peers may retain her position as Commission of the SEC according to a White House press release President Trump has nominated Peirce to serve a second-tier term at the SEC Pearce a lawyer who specializes in financial market regulation was sworn into office in January of 2018 her current term is expiring on Friday but can continue pending a review of her nomination she will serve as SEC Commissioner until least 2025 if she gets the backing from the Senate which confirms nominations for key federal officials Pearce became known as crypto mom due to her art and support for digital currencies in July of 2018 she publicly dissented on the SEC s decision to reject a Bitcoin exchange traded fund applications submitted by the Winklevoss twins Tyler and Cameron so here's her this is February 26 2020 has two appears at Bitcoin one element one the ETP approval beet elementary funny in February Pierce said the SEC should give crypto startups that come conduct token sales a three year safe harbor period before their digital assets are subject to securities regulations that's good a little sandbox financial sandbox to kind of play prove out your I guess I would say prove out your startup and make sure your mission can be completely be completed Pierce believes that this will give crypto startups ample time to prove their tokens or illegals all right sounds good so hopefully she gets approved by the Senate so let me know in the comments section below what you think of Hester Pearce miss crypto mom alright folks so I'm going to wrap it up there thank you again for tuning in the cryptocurrency portal I deeply appreciate every one of you if you like this video please mass a thumbs up button helped me out and gives a smile on my face helps out with those Google and YouTube algorithms as well if you're a subscriber to the channel thank you very much I appreciate every one of you if you're not a subscriber yet hopefully I've shown you value and I would be honored with your subscription to the channel and as always leave any comments about anything crypto related in the comment section below and I respond to all comments let's get a little discussion going thanks again for tuning into the cryptocurrency portal and I'll talk to you real soon [Music] you you
