Bitcoin and Asset Tokenization

 “The Bitcoin ETF is just an initial offering that allows the global financial system to have basic investment rails and payment rails toward Bitcoin within structures that they find comfortable for them.

The next stage is asset tokenization where banks see all these inflows into ETFs and then they make assets to compete with the ETFs or to get some of that capital.” ~ Sergey Nazarov, Chainlink Co-founder

Glassnode puts the total BTC assets available on the major trading platform it monitors at 2,286,347 BTC ($142.5 billion) as of March 2, 2024.

This is the lowest amount since March 2018, when BTC/USD traded at just $8,000.

• AI, ETFs will power a decade-long ‘gold rush’ for Bitcoin: Michael Saylor
• First gold ETF took 2 years to hit $10B, BlackRock’s iShares Bitcoin Trust (IBIT) ETF did it in 2 months

AI, ETFs will power a decade-long ‘gold rush’ for Bitcoin: Michael Saylor

1. “High growth institutional adoption" - Institutions will compete to capture as much of Bitcoin’s ever-decreasing supply until the end of 2034 as 99% of Bitcoin will have been mined by then.

2. The spot Bitcoin ETF’s are currently only serving as a “distribution channel” to 10-20% of those interested at the moment, but sees this rising upward to 100% once banks and institutional wirehouses start facilitating Bitcoin trades.

3. “When they can buy via their bank, their institutional wirehouse, their prime broker, they will make a $50 million decision in one hour.”

4. “You’re going to see resistance drop.”

5. “There will be a day where Bitcoin blasts past gold [and] trade more than the S&P index ETFs.”

6. “If you want to actually watermark, timestamp, cryptographically sign messages and documents and content, you’re going to need Bitcoin to do that as a system of truth.”

7. “If you want to create an AI version of yourself and have it live on the internet forever, you better give it some Bitcoin. So I think there's going to be an interesting demand function there.”

8. There could also be more demand for Bitcoin as nation-states start embracing BTC. Embracing Bitcoin has been shown to create more financial hubs, which, in turn, drives capital into these countries over the long term.

9. It’s just better to get in front of that and just embrace it.

10. We're going to see new frictions and [then the] overcoming [of] frictions because the tool itself is so powerful that it just gives so many ways to route around problems when they emerge.

#Bitcoin #ETF #AI

https://cointelegraph.com/news/decade-long-gold-rush-bitcoin-michael-saylor

Image: Money Flow - Native Digital Gold* (Bitcoin) vs Physical Gold

* NOT digitized version of physical gold, but programmable money with ultimate scarcity proven and verifiable by math and logic.

First gold ETF took 2 years to hit $10B, this Bitcoin ETF did it in 2 months

“Gold's pain is Bitcoin ETFs' gain in the store of value smackdown.” ~ Bloomberg ETF analyst Eric Balchunas

"Bitcoin ETF inflows have absolutely blown gold’s out of the water. Not even close, utterly dwarfed, decimated,” ~ Reflexivity Research co-founder Will Clemente 

As of March 1, BlackRock’s Bitcoin ETF reached $10 billion in AUM — around 39 trading days since launch.

On the other hand, the United States’ first gold ETF — SPDR Gold Shares (GLD) — took more than two years to do the same following its launch in 2004.

Spot gold prices returned to near-peak levels of $2,081 per ounce on March 3, however, the precious yellow metal has only gained 1% since the beginning of the year. 

Comparatively, Bitcoin prices have surged 50% over the same period.

https://cointelegraph.com/news/blackrock-bitcoin-etf-10-billion-aum-beating-first-gold-spdr