Famous Billionaire (Dan Morehead)Makes a Statement About the Future of Bitcoin these days..Morehead began his remarks by addressing the US’s dependence on gold as a reserve asset. “The United States stores $600 billion worth of gold,” Morehead said, adding that this amount is equivalent to 11 million years of American wages. Despite its historical importance, Morehead argued that gold is becoming obsolete as a reserve asset in the digital age.
Turning to Bitcoin, Morehead described it as a “much better” store of value than gold. He noted that Bitcoin’s digital nature, rarity and global accessibility make it a more efficient and forward-looking reserve asset. “Go to digital gold, go to Bitcoin, it’s much better,” he said.
Morehead also explained that the US currently owns about 1% of the world’s Bitcoin supply, which he believes is both a strategic and rational position. “Keep it, increase it,” Morehead advised, adding that it would be a positive policy decision for the US to expand its Bitcoin holdings.
He also noted that other countries have already started owning Bitcoin, indicating that the US should take the lead in adopting BTC as part of its reserve strategy.
BlackRock ETF President Jay Jacobs announced that the company will focus on Bitcoin and Ethereum ETFs, foregoing the launch of other altcoin ETFs. Despite the anticipation of approvals for altcoin ETFs like Solana and XRP, BlackRock has decided to concentrate on Bitcoin and Ethereum, as these currently reach only a small segment of their clientele. Jacobs emphasized that their exploration of Bitcoin and Ethereum is just beginning, and they aim to deepen their focus on these two cryptocurrencies rather than expanding into other altcoins.
Describing Bitcoin (BTC) as a potential “national asset,” Japanese MP Satoshi Hamada has called on the government to establish a national Bitcoin reserve. The proposal echoes similar initiatives by lawmakers in Argentina, Russia and other countries.
Hamada, a representative of the People’s Protection Party, told NHK in a formal written request to the government, asking for Bitcoin to be considered a strategic reserve asset. According to media outlet CoinPost and official records from the parliament, Hamada’s request speaks to the growing global trend towards Bitcoin being considered a national strategic reserve asset.
Hamada specifically pointed to developments in Brazil and the United States, where authorities are reportedly exploring the possibility of holding Bitcoin as part of their treasury reserves. He suggested Japan follow suit by converting some of its foreign exchange reserves into cryptocurrencies like Bitcoin.
Hamada highlighted the unique qualities of Bitcoin, stating:
“Bitcoin’s neutrality and decentralized nature allows it to support economic activity without relying on any particular currency or institution.”
There is an agreement indicating that China still has a large amount of Bitcoin stored! Previously, the Chinese government had banned local institutions and individuals from purchasing Bitcoin! But in recent days, advertisements for fund companies that buy crypto ETFs have appeared on the website of Alipay, China’s largest payment transaction platform! This is a huge sign!
Honestly, even if Blackrock didn't want to do alt ETFs (which they for sure will eventually), just any one of the major players offering them would be massive for the selected coins. If the ETFs can add over a TRILLION to the market cap of BTC, imagine what they could do for alts with 100b market caps and under. All it would take is one of them- Fidelity, State Street, Morgan Stanley, etc. All of them manage 3+ trillion dollars each.
We all know-Believing BlackRock announcements is like believing the phone number you got from that stripper is a real number.
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