Transcription
They control trillions of dollars of wealth. They're only just now coming online. I think that's the biggest unlocking potential for the Bitcoin ETFs.
And big, big crypto news today as Bitcoin's price is reflecting the latest headlines. Starting off the day at about $14,000 at time of recording, Bitcoin is at $18,000 and pushing higher. This is all as one of the largest banks in America, The Bank of America, just labeled Bitcoin as one of the biggest disruptors of all time.
Smash the like button if you've been here since back when banks in America used to call Bitcoin a scam. Care less what Bitcoin trades for, how it trades, why it trades, who trades it. If you're stupid enough to buy it, you'll pay the price for it one day. And it used to be pretty common to call Bitcoin and Bitcoin investors a scam. This is a clip from a comedy politics show back in 2008. They called you an idiot for investing in Bitcoin when it was low. Now they're going to call you lucky. Take a listen to the price of Bitcoin when they published this. The only thing that should double that quickly is the value of Bitcoin. Just kidding. That was a garbage investment and you're an idiot. Bitcoin is just Beanie Babies for Tech Bros.
Look, man. Every person I went to high school with was like, "Yo, Bitcoin is going to change your life. BTC, get on it right now." And I'm like, "Tommy Wilson, you work at Office Max. What the heck are you talking about?" Oh, by the way, by the way, hey, internet comments, it's trading at 6.5K. Go yourself. Look, it is amazing how times have changed. If you tuned in to the US military parade the other day, you saw Coinbase, one of the main sponsors of the US Army. Very interesting.
JP Morgan continuing to make stealth moves into the crypto space. JP Morgan has filed a US trademark hinting at creating its own digital asset exchange. And if you read into the trademarks that they are filing, what they want to accomplish with their platform in the future is to provide trading, exchange, transfer, and payment services for crypto; namely virtual currency, digital currency, digital tokens, payment tokens, decentralized application tokens, and blockchain-enabled cryptocurrency. I wonder if Jaime Diamond will still FUD Bitcoin in public. Watch what they do, not what they say.
And for those of you who are wondering if Bitcoin is closer to a local top today or if there's more room to rally in the future, I say that there's more room to rally in the future. If you take a look at onchain metrics, long-term Bitcoin holders, Bitcoin holders, wallets that do not have a history of selling are not selling, and they do sell sometimes at what turns out to be local tops. And that's not what's happening here. Understand what's going on. Bitcoin historically hits local or cycle tops when long-term holders start to sell their coins to new market entrants. We're not seeing any signs of this in the data today. In fact, the long-term holder supply is up 4% over the last 3 months.
In addition to the vote of confidence from long-term holders, the Bitcoin ETFs have seen over 9 billion of inflows over the last two months. I think Bitcoin's going a lot higher in the future for very simple reasons, and it all has to do with supply and demand. You know, Bitcoin's supply flow is fixed, unlike gold; you know, if they want to mine more gold because there's major demand, they will mine more gold. They cannot do that with Bitcoin. Bitcoin's supply is capped and its supply flow is fixed. And this cycle, unlike many other cycles, just has buyers that won't be selling or trading crypto assets like retail has done every cycle before. Wall Street's buying, corporate treasuries are buying. So many people implementing sailor's strategy today; the US and sovereign wealth is buying, and yet just a year ago we just had the Bitcoin ETFs as the "this time is different" factor for this cycle.
So what I want you to realize here is that the Bitcoin ETFs are still just as bullish as they ever have been and in fact more bullish today than they were when they launched in the beginning of 2024. Bloomberg analyst James Seafart says trillions will flow into Bitcoin ETFs this year and next as JP Morgan, Meil Lynch, and big wirehouses come online. This will be the biggest unlock of capital in Bitcoin history. And he explains exactly what he expects to happen in a very simple way. Here, like the video. Listen to this. I think that's the biggest unlocking potential for the Bitcoin ETFs. A lot of them at these big platforms, these wirehouses, the JP Morgans, the Meil Lynches, they control trillions of dollars of wealth. They're only just now coming online, and in most cases there's a lot of restrictions. Like you think, oh, you get an ETF, all of a sudden everyone can invest in it. Nope. That is not how these platforms work. You're starting to hear though that people are starting to be able to venture into it. And you know, do you think we'll continue to see that or what do you think? Yeah, the biggest bull case for the ETFs has been the is the unlocking of RAAS in 2025, and that's something I was talking about six, seven months ago. Think about the three tiers almost like red, yellow, green. Red light is I don't care what you're doing on our platform, you cannot touch a Bitcoin ETF. Then a lot of ETFs are in this middle ground where it's like if the client specifically asks to buy a Bitcoin ETF, you can do it for them. Or if your clients like certain levels of wealth and risk ability to take risk and desire to take risk, they have a certain amount of assets with us, then you can buy some of the Bitcoin ETFs for them. And this is called solicited versus unsolicited. So if you come to me, I'm your RA. You ask for it, then I can do it. But I can't be like, "I think you should put 2% of your portfolio in Bitcoin." The final level is when it's solicited and I can basically solicit to you and say, "I think you should put this in your portfolio." Right now, the vast majority of the assets are in that middle ground. There's still trillions of dollars of assets in those warehouses, in those wealth platforms you were talking about that are either at the red or yellow level. And we're seeing an unlocking of more people going up that ladder towards allowing things to be approved for for buying of the end investors. And I I think that's the biggest unlocking potential for the Bitcoin ETFs. And we've seen a lot of flows coming to these ETFs. Uh, and I think when we get the 13F report from June 30th, which we'll get in August, we'll see a lot more RAAS that have come online and buying this for their clients.
Let's ease into altcoins, starting with Cardano. Cardano is planning to buy Bitcoin with its $1.2 billion treasury. Hoskinson proposed converting some of its ADA in the Cardano Treasury into Bitcoin and stable coins and use yield to buy back more ADA. This could be crypto's first real sovereign wealth fund. Listen to this. Tell me what you think. Cardano holders, I do believe that it will not materially impact Cardano by doing a conversion of 5 to 10% of the treasury into stable assets and assets like Bitcoin. And in doing this we can create a yield and that yield on an annual basis can be used to purchase ADA and over time replenish the treasury. And if this program is successful then we can actually continue that strategy on an annualized basis and over a period of 5 to 10 years potentially grow to a billion dollar plus stable coin treasury and Bitcoin treasury to augment and enhance the ADA value in the treasury that we have. This sets us up for great returns um and for a pretty stable floor for the ecosystem as a whole like you would want in any good sovereign wealth fund.
And we're continuing to see big money buying Ethereum behind the scenes. Ethereum whales are buying the most Ethereum they've ever bought since 2018. Ethereum's bull drivers are different today than they were back then, but there are some things that are similar. Ethereum's price is consolidating into a multi-month range, echoing its 2017 chart pattern, which back then resulted in a 1,000% rally. And we could argue that things are just as bullish, if not more bullish, for Ethereum today. So, Ethereum whales have accumulated over $2.5 billion of Ethereum on Sunday, their biggest daily inflow since 2018. Analysts see Ethereum in the short term hitting $4,000 with $10,000 being the price long-term.
So, Bitcoin is flying high. Ethereum is outperforming Bitcoin. Solana is outperforming Ethereum. What we're seeing in the markets is extremely bullish for crypto. These are bull market vibes. Spot Solana ETFs will be launching this year. This is what it's looking like with Coin Shares being the latest to file an S1 for their spot Solana ETF.
Tron is now set to go public in the US via a reverse merger with a company known as SRM. Tron is about to go public in the US. Those of you who are around in 2018, 2019, imagine hearing that this was going to happen in just a matter of a few years.
XRP is looking strong. The XRP ledger is showing serious signs of growth from both usage and key stakeholder perspective. In fact, the amount of XRP addresses is averaging almost 300,000 per day lately, over the past week. Normally, over the last 3 months, it has averaged 35 to 40 per day. So, this is an amazing surge in XRP addresses. Additionally, there are now over 2,700 whale and shark wallets holding at least 1 million XRP for the first time in the asset's 12-year history. What is going on with XRP?
You know, because of everything we mentioned earlier in this video with Bitcoin supply and demand dynamics, it's obvious that Bitcoin is going to be higher in the future. And again, these holders, these new holders, these new buyers are not traders; are not going to sell at a local top. Which is why I find this video from Michael Sailor very interesting. He's asked, "What happens if Bitcoin's price stops going up?" This is what he says. I think this might be more true than you think. Well, what happens if it stops going up? It's like, well, what happens if water stops flowing downhill? What happens if time goes backwards? Right? What what happens if the law of thermodynamics no longer hold? What happens when people decide they want less secure things rather than more secure things? What happens when they want crappy stuff instead of good stuff? Right? It's not going to happen. Right? There's a natural progression here which is intelligent people are moving their money from a more disordered state to a less disordered state, from a uh from a uh shorter life expectancy container to a longer life expectancy container. They're moving from from a an unsafe place to a safer place.
In other news for altcoins, new all-time high for World Mobile Token, 2 million daily active users, 27,000 in just the past 10 days. Another step forward, another record set. When 2 million people move first, you don't want to be last.
Look guys, I'm incredibly bullish, especially how bearish CNBC, Crypto Twitter, the comments of our YouTube videos, they continue to seem bearish to me; yet we're grinding higher and so many fundamentals, onchain metrics behind the scenes are bullish. Guys, now is the time to get serious about your Bitcoin journey. And like we've been saying for a while, Bitcoin and AI will grow together. Well, this AI video about Bitcoin, I think is kind of eye-opening. And you know, in the back of so many regular people's minds, this is kind of what they're realizing: the implications if you don't own any Bitcoin.
My name is Aaron at Altcoin Daily. Subscribe to the channel and I'll see you tomorrow, my friends.
Hey man, just curious. Why don't you own Bitcoin? Because I like working overtime while watching my savings buy me less every year.
Ma'am, any reason you haven't bought Bitcoin? Well, I enjoy being humbled by double-digit inflation and $100 shampoo.
Hi there. Mind if I ask why you don't own any Bitcoin? Because I would hate to accidentally afford college for my kids one day?
Quick question. Why don't you own Bitcoin? Because watching my paycheck buy less and less is the only thing keeping me awake on night shifts.
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