 Welcome to Jalassette News, the top stories in crypto currency and Jalassets, and bring them down to bite-sized pieces today. More bullish news as if it can't get any better. But it does. Global equity headed Jeffries says the investment bank will buy Bitcoin and reduce exposure to gold. So what this means is another billion dollar company is dumping gold for Bitcoin. Also Grayscale is temporarily stopping and accepting new clients in six crypto trusts. This is not unusual as it happened back in 2019, but the timing is a little bit odd. And also, Michael Saylor and MicroStrategy have completed their purchase of almost 30,000 bitcoins for 650 million a piece, and they've been buying and a whopping of 21,925 per bitcoin. So the question is asked, if MicroStrategy keeps buying, should you? And we're getting all that at first, so let's continue on with our 12 days of Christmas. Getting away with a lot of cool stuff. Yesterday we did a drawing for the iTrust Capital crypto IRA three months free plus swag. And I had the folks over there at iTrust Capital draw and they send me over these pictures and these are the winners. We've got Eric C, Eric Phillips, James Cooper, Matthew Bogey and Gary Green. So gentlemen, if you would just do me a favor and come on over to danteachescrypto.com, click on the contact tab right here, send me an email with your name and I will send your information over to Anthony and he'll get you all set up with those three months and a swag bag. Thanks for playing. Also on top of that, we've got something special today and that is market rebellion. We're going to be giving away actually one free year long membership to the trading education platform. Now the 25th, we're going to double up by getting another free membership plus to trade the chain membership. So these, I believe, should go together. I'm going to tell you why. 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Just put market rebellion and I'll have the folks over there draw the name of the lucky winner and I'll let you know in tomorrow's video. But before we get into that, let's take a look at what's going on the market. So today is the 21st of December. It is almost 5 p.m. El Paso, Texas time. I'm getting done late because a lot of things to do. So what do we got? Well, a little bit of a tussle Bitcoin below 23,000 down 2.7. But hey, 20% for the week. I'll take those numbers all day long. 610 for Ethereum, XRP, 51 cents. Watch out, Tether, nobody cares. Litecoin, negative 8 cents, but still amazing run for Litecoin. I really should have gotten into that. I just can't buy Litecoin again, 28% for the seven days. I used to own it a long time ago. I just didn't really like what Charlie did. That doesn't matter. That doesn't matter. What really matters is that Litecoin is going to be huge because it's on PayPal. It's one of the four horsemen. I think it's going to be big. Bitcoin cash down almost, wow, 10%, 14% for the week chain. Like, let's see, is anything up? Geez, let's just talk about what's up. And Zippo, bupkiss. Let's take a look at Bitcoin and see if we just would invest it in Bitcoin. We've been OK or not. Well, yeah, pretty much. Yeah, yeah, yeah, except for Cosmos. Hey, congratulations, Cosmos. And that's pretty much it. So all right, let's jump into today's top stories. So here we go. This is huge. I think this is huge. This is huge to me. I was like when billion dollar companies who are heavy into gold go, you know what, we're going to drop gold and go into Bitcoin because it just proves my point or our point that people are finally trying to get it and institutions are really trying to come on in. So global equity head of Jeffries says the investment bank will buy Bitcoin and reduce exposure to gold. First of all, who the heck is Jeffries? It's hard to keep all these billion dollar companies straight, but Jeffries Group LLC is an American multinational investment bank and financial services company headquartered NYC firm provides capital or clients with capital markets, financial advisory services, brokerage, securities, blah, blah, blah. They do a lot of stuff. Great. Good for them. So their revenue or their total assets under management, you're looking at 44 billion, so no slouches. Looks like they know what they're doing. They know their way around a little bit of the money. So what's happening here? Well, Christopher Wood, head of equity, equity of Jeffries says his firm will reduce exposure to gold in favor of Bitcoin. This is interesting. There are plans to increase the crypto component of Jeffries long only global portfolio for US dollar denominated pension funds if and when the Bitcoin price drops from current levels. And when we get into this, it actually kind of flips around. So this is what's going on. Before this happened, Jeffries funds were as follows. It was half or 50% towards a physical gold bullion. Now it's 45% because they reduced their position. Now it's going to be 5% of Bitcoin. I think we'll increase later. 30% to Asia, ex-Japan equities and 20% to unhedged gold mining stocks. So he wrote in his weekly Greed and Fear note to all the investors. The global head of equity explains the multinational investment banks rationale for choosing Bitcoin over gold. Because I got to tell you, I got to tell you. I think this is probably a pretty shock to the system. When a lot of these guys who have been in this fund for probably quite some time, Jeffries was started in the 1960s. So I bet a lot of people have been there from their grandfather, their father and whoever else there was. Now they're saying, you know what everybody, we're going to reduce for the first time in history our position in gold to Bitcoin. That must have been a shock. So the 50% weight in physical gold bullion in the portfolio will be reduced for the first time in several years by five points with the money invested in Bitcoin. If there is a big drawdown, this is of key. If there is a big drawdown in Bitcoin from the current level, after the historic breakout about the 20,000 level, the intention will be to add to this position, which hey, even smart money does a little dollar cost averaging. So good for them. So just moving down, I don't want to get everybody's hope stash. They're not going to go all the way out of gold because Wood said this, the yellow metal should rally again if the Fed stays dovish. That's a good word. In the face of the dramatic cyclical recovery and some other stuff. So great, they're going to stay in gold. Okay, good for them. Predictions, but this is important. Predictions by strategists at JP Morgan that institutional investors will sell some of their gold holdings and use the proceeds to finance Bitcoin purchases. This is after some gold bug said it wasn't going to happen. But it's true. It's happening again and again and again. Institutions are saying, you know what? We're going to get out of gold and we're going to get into Bitcoin because the upside potential is so enormous. Bitcoin's a great hedge. I own gold, I own silver, I own Bitcoin. I own a heck of a lot more Bitcoin, I do gold and silver. And the reason is because there's a massive upside potential. Gold is great when the world collapses and there's mutants all over the place and you're trying to save your family. But in all honesty, Bitcoin going to 100,000, I can see that. That's about a five X. I did not see gold going from whatever it is now, 1800 and jumping up to 10,000. I just, that's not going to happen. So that is why I have allocated more funds into Bitcoin and other cryptocurrencies or assets. Let me know what you think of the comment section. Let's move on. Next up, this is weird timing. Grayscale temporarily stops accepting new clients in six crypto trusts. This is from Denny Nelson and just a real small snippet. He says Grayscale does pretty close off its crypto trust to so-called private placement rounds, such actions happened repeatedly in Q4 2019, which I can get that in 2019. Maybe they just had like just a big rush of people that came in or they just were lax in their purchasing of Bitcoin and they couldn't take anybody else in. But I think right now, as much as they're doing, as much as they're trying to buy and buy and buy, remember it's not just Grayscale now. Now you got to compete with PayPal. Now you got to compete with MicroStrategy. Now you got to compete with MassMutual and all the other shadow companies that aren't making a public right now. You have to compete with all those people. So maybe Grayscale is like, there's only so much to go around, so sorry. And then here's the thing, if they keep buying and buying and buying, what happens then? Well, the price goes up. They don't want the price to go up right now. They want to ease off the gas a little bit. And this goes into our next point. Even with temporary closing new investors, Grayscale will still be able to obtain added capital from existing investors until it reopens again to new ones. On Monday, JP Morgan analysts wrote that a dramatic slowdown in Grayscale Bitcoin inflows could jack up the odds of a Bitcoin reduction or correction. So of course, they're gonna say, you know what, we're gonna stop buying so much and let's just cool off a little bit because it's just going a little bit too fast. We got a lot of our friends and institutions who really want to get in this game and we can't really pump the price up. I mean, look, Jeffery's over here is waiting for a dump and we got to give it to him. I'm just kidding. I don't know if that's really happening, but it sounds good when I say things like that. It just adds the mystery. Who knows they're doing that over something else going on, but it is a little bit odd, especially when you got New York based Grayscale is owned by Digital Currency Group, the parent company of CoinDesk, which is where this article is coming from. But just to be sure, I went over there and just took a look and I did, I filled out a form and it's true. Grayscale Bitcoin Trust is unavailable. Bitcoin Cash unavailable, a theory on that classic Grayscale Ryzen Trust. You can, but look at that, our good old XRP, no problem. You can get in there, no problem. Stellalum and Zcash, absolutely. Everything else, sorry, Charlie. We've got nothing for you. It's just one of those weird things. Let me know what you think in the comment section. I just find it to be odd timing. That's all I'll say. Lastly, Michael Saylor from Michael's Strategy. This guy's everywhere. I think this guy really is the new Bitcoin Jesus. He really is trying to convert as many people as he possibly can. Everybody has heard the whole thing with Elon Musk and him trying to convince him. Who knows, Elon Musk is Elon. I don't know what's gonna happen. I didn't really wanna cover it because everybody else was talking about it, so who cares? So if he does, that's great. If Tesla starts to buy Bitcoin, fantastic. It'll be a huge catalyst, but who knows? But this is the story. Michael Saylor says, hey, we did a funding round. We build up a lot of capital and were able to purchase, finally, almost 30,000 Bitcoins for 650 million at an average price of 21.9, which means is that they were paying a little bit more, a little bit less, obviously, but they were still buying Bitcoin. And people would ask me, they'd go, well, are you still gonna dollar cost average? Cause I sold a little bit of Bitcoin. Yes, I'm still gonna dollar cost average in. I'm still gonna dollar cost average in. I had a video about this, about when I will actually stop. The magic number for me is 30K. And I explained exactly why that 30K is. You can watch that video or go over to dandiejustcrypto.com, look in module three investing. It's the last video that I have placed right there. Very simple, and I laid all the numbers. But I think it's interesting that he's still doing it. He's still gonna be buying. I think Sailor's gonna be buying for a long time. And what's fascinating about MicroStrategy is they've said, look, we're not selling. We're gonna keep this on the books for a hundred years. Now, that's a long time, let's see if he does it. But so far, he's been pretty much true to his word. So this, by doing this, and these companies doing and buying Bitcoin from the Treasury, it doesn't fluctuate the market so much and it keeps it a little bit stagnant or a little bit more stable. Now, I will remind you of one thing. They are not buying Ethereum that much. They are not buying XRP. They're not buying Bitcoin Cash. They're not buying Cardano. They're not buying altcoins. They're just getting into Bitcoin right now. Maybe way behind the scenes, perhaps, I have no idea. But at least publicly, this is what it is. So I believe Bitcoin will go on a rise but not as meteorically as before. And it certainly won't crash down because these guys are here. I think it'll be a little slower like we just talked about. Alt's, there's still a season for that. People will still flow into it. But I think Bitcoin is a lot of the institutional investors and the alt's a bunch of retail. So catch it while it's hot. And that's it for today. So as a quick reminder, if you would like to win that Market Rebellion free one-year membership, just put in Market Rebellion in the comments below. Also, I believe that with Market Rebellion and trade the chain together, it's like an unbeatable combo. Market Rebellion is all about TA. Trade the chain is all about SA. Technical analysis with Market Rebellion and sentiment analysis with trade the chain. 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If you wanna look at the Trade the Chain, just look in the description below. There's a link to check it out and that is all. So thanks for sticking with me. I appreciate it. If you like these types of videos, there's gonna be two more that's gonna pop up on your left and right. I'll let YouTube do its magic and that is all for today. So thanks again, really appreciate it and I'll see you on the next one.