 Welcome to Digital Asset News, the top stories in cryptocurrency and digital assets and background of bite-sized pieces. Really today we've got one story and that's this. Goldman Sachs senior exec on huge institutional demand for Bitcoin and what this article allows us to do is to peel back the curtain and see not just what institutions are doing but corporations, hedge funds, treasuries and pensions are thinking about Bitcoin and how bullish it is because they're actually talking about using Bitcoin for payments as opposed to a store of value. So we're going to dig deep into this one and we're going to try to talk about what this potentially all could mean for when the impending bear market comes about. So we'll take a look at this but first let's take a look at what's going on into the market. So right now it is March 13th, 5 p.m. Houston, Texas time I'm with my my guy Chewie here and we're still in Houston because we have this investment property and there's just some problems that are coming up so we need to make sure this is ready as we have all these people coming in through Airbnb to rent it out and it's been pretty good. We came here just about a week and a half ago or so we got everything fixed up and ready to go put an Airbnb and now here we are I think we're almost three months booked for people to come in so that's what's great not really having a job but there's no I have no job I mean me and my wife just work for ourselves and we're going to do things like this so this is always good news so let's take a look what's going on so if you haven't known Bitcoin just popped over 60,000 so congratulations to all the Bitcoin holders every single Bitcoin holder today is in profit so congratulations to everybody that is a pretty great thing also on top of that let's see Ethereum is up 9% Binance Coin it just seems like when when Bitcoin goes up everything else goes up and that's just pretty much how it works so if you're into cryptocurrency just remember that little sage advice Bitcoin goes up usually a lot of things go up especially when we're hitting all-time highs let's see XRP 6.27 for Polkadot I think fantastic besides Bitcoin 15% for EOS wow that's crazy 19% for Bitcoin SV all right sure 3% 9% for FTX token 21% for Sushi swap huh interesting and then some more stuff Filecoin 11% and so on and so forth so let's just take a look real quick actually let me blow this up so you can see I'm talking about let's take a look at the sentiment score through trade the chain and see what's going to be the next ones this always just gets me into my my inner trader so take a look at next genesis vision one chain and mayor and you trust those looks like they're at Decentraland Pundi X Pundi and Ethereum classic so this part right here I see this little middle number here for next 4.2% to 13% that's like 90% accuracy for trade the chain also on top of that just so you know talking about institutions I'll be on the Alex Masioli show on Tuesday Alex is my main guy my my my inner pipeline for all the different institution gossip things that are going on and those guys meet we're talking about their their personal portfolios so I'll just be be there for I don't know comic relief or something so we'll see we'll see how it all works out I'll share the link later on all right let's give it today's top story shall we and here we are and she was gone because he's lazy all right so what is this all about well this one is important to me it's interesting to me I should say because of a conversation that's a me and Alex Masioli were having which was he believes that the reason why bitcoin and crypto really popped off was because of the coronavirus and I told I believe that too he thinks that the reason was because everybody was at home and nothing to do so they did a lot of research and of course this was the time of the happening so they figured out about that they probably figured out some things about cycles they probably looked at what it could actually do they did some deep dives and they figured out just how great crypto and digital assets could be but he thinks that once we start to get the vaccines people do more things by themselves you know they're actually able to travel and do other things he says that he thinks that crypto will actually drop off because people won't be as interested into it because they'll have other other interests and that's the part where we diverge I personally believe that because everybody has been very you know educating themselves now they can have a more informed conversation just for about bitcoin for example and just say hey you know bitcoin is gold 2.0 it's you can you can transfer it or spend it or send it anywhere in the world to anyone in the world in less than 30 minutes it's used to cost a nickel and now it costs 50,000 actually 60,000 as of today it is the most uh it's the best performing asset over the last 10 years it's why I'm heavily invested into it that is my bitcoin elevator pitch so if you've been to danteachescrypto.com you know exactly what I'm talking about so when people start to hear about that like oh we'll tell you more you know how much was it a year ago wow 5,000 now it's at 60,000 wow tell me why it is so great well the centralization and of course because of what's going on with the money printing and they went on that rabbit hole but uh I truly believe that now the people educated they're able to go and uh yeah intermingle with all the people that they know maybe their jobs or more on site they get together more with friends and family and they sort of talk about these things in person and I think that is actually going to lead to a bigger influx of of crypto users and digital asset investors and of course that's why I created this website danteachescrypto.com because it's it's it goes over the some basics and a little intermediate stuff but it's 100% free and when people go there they learn about it the only thing I ask is the one thing I ask is that you tell two people uh TTP as I call it and then uh when you tell two people they sign up and they learn more about it and then it's just as a flywheel effect because I want you guys here with me uh because I don't just between us uh it's kind of boring just being me sometimes because all I really do is work it'd be great if I had some more friends who didn't have a job and they could they could like you know do more things besides you know uh working their asses off you know 60 80 hours a week and then you know getting together every so often I just want people more like me it's just a better life that's that's all I can tell you anyhow so that that is that is that part and what we're going to talk about with this article is what's going to happen uh I think as far as like institutions dumping on us uh as time moves on because guess what the bear market's coming all right so here's what's going on with this piece and I'll go over this quickly during a recent interview Matthew McDermott head of digital assets for Goldman Sachs global market division talked about bitcoin of course he's the head of the department he said in in terms of kinds of institutional demand we have seen no signs of that abating and when we talk about institutional man we talk about the whole cross section of the industry sectors the team have fielded well over 300 conversations and I'm referring to hedge funds asset managers macro funds banks corporate treasurers insurance and pension funds so when we hear about these these whole swaths of people it's it's very interesting to say like when we talk about institutions it's not just like a certain institutions it's all these different types of people that we just talked about right corporations the treasuries the treasurers the pension funds hedge funds which gets in a bit so it's just a big swath of big money coming in and all these different types they're going to have their own goals just like my goals for cryptocurrency are my goals they're not your goals right and and and we talked about this a couple of videos ago I said look if you're in your you know your 40s you got grandkids like myself you have a different goal than if you are in your 20s just starting out and you know you just want to be an investor or as opposed to like somebody who's in their 80s or 90s and they're like you know what I just want some some extra retirement income so again everybody's goal is different for as far as investors and everybody's goal is probably different as far as institutions and corporations and that's going to play a big factor into what happens as far as the bull and bear market and four-year cycles like I talked about so to continue on this is what he says he goes look they're interested in they're interested in two different aspects firstly should they invest in bitcoin on the balance sheet and that's what microstrategy did with Michael you know michael cellar that's what tesla did elan musk that's what a mass mutual type of huge insurance company did they just want to put in their treasury they just want to hold on to it and that's it and that's great you know we welcome those people with open arms thanks for stabilizing the price a little bit right and then secondly this was the most interesting me yeah they're also thinking about it particularly in the context of tesla's announcement which is should we consider it as a payment mechanism so first of all if this was 20s thank god this is in 2017 there wasn't in 2017 it was just vaporware there was nothing really built there was no tracks laid down I don't know how institutions could have gotten in but in my thinking I was always like well this is the future so they'll just figure it out as time goes on yeah they figured it out but the first thing they did was they dumped everything everybody dumped everything and then they built the rails in 2018 19 and 20 and now here around 2021 and the institutions are here but it's just interesting to me that that these guys are saying well we're going to go against some of that store of value talk which is they're probably still going to do but now they're talking about payments and if you're around in 2017 you know that payments using bitcoin as a as a payment as a decentralized payment was awful as more people used it the network became severely congested it became super expensive and it became incredibly a time waste we would say because what used to take like 30 minutes 20 15 30 minutes was taken 12 hours 24 hours two days to send bitcoin around it was just awful so then you know people came up with with the lighting network and secondary solutions which would be like off-chain type of thing but we're still not there so it's great that these guys are talking about payments but I don't think they really understand exactly what would happen if they did that with payments it just wouldn't work the only way it would work is if they just like how PayPal does and this is I think the most interesting part PayPal is going to give you people can buy bitcoin bitcoin cash Ethereum and Litecoin they're going to be able to roll it out to merchants in I believe quarter two and they're going to roll it out globally if they haven't done it already I always forget so the thing is once you're able to pay with you know merchants with your PayPal account let's say you have Litecoin right you say I want to buy those shoes and Litecoin is what a hundred bucks let's say it's you know new Weasies I don't know and you're like I want some some some Nike's and here's a here's a hundred bucks here's one Litecoin right you're not going to pay that merchant and Litecoin they're not going to get Litecoin it's all going to be transacted but it's going to be really off-chain and it's going to be settled in fiat and cash and what PayPal is going to do is they're going to keep that cryptocurrency and they're going to get loaded that's really what it really comes down to so if these guys are thinking yeah we can do that you understand what they're going to do is they're going to massively accumulate cryptocurrency until it doesn't make any sense anymore and that's really what it comes down to so again we're talking about hedge funds and all these different places our institutions and corporations they're not here to be our friends and to make sure that we're okay and we make a lot of money their job is to help them and at some point when it doesn't make any sense they're going to sell and we've had I've had back and forth with Alex about this as well and he agrees he's like look it's the same thing and people say Rob you understand this whole time is different and I'm telling you right now as long as there's still greedy people as long as there's still people who like to manipulate the market and make a ton of money as long as those things that exist and as long as corporations still have to answer to their shareholders then it's not going to be that much different I think there's still going to be a bear market what goes up must come down I don't care how great the asset actually is once we start to get to a state of FOMO and there is just a parabolic hook that goes all the way up there will be huge problems down the pipe and that's just how I see it so anyhow it's great that they're they're looking for payments I think they will accumulate massively but I think if they accumulate massively they will dump massively and that's the big thing about it's not how much you make it's how much you keep and that's really where the skill comes in is when do you have that exit strategy to get out to sell your positions and go through all right so to finish this up I talked about hedge funds what they're interested in is broader market behavior and really identifying what are the most efficient ways for them to get exposure and to think about hedging and of course that is exactly what I just talked about these hedge funds there's no love there they're like look we're here for profits and if we don't make profit we're out so this was just a I thought pretty good piece about what was going on and the last thing I'll all to say about is this is because all these different plays we just talked about are considered smart money right so if they're all smart money then they know what you know they know what I know and they know about the four-year cycle like we talked about 2012 there's a halving 2013 all-time high 2014 there's a dip 2015 there's a reset 2016 there is a halving 2017 all-time high 2018 dip 2019 reset 2020 there is a halving 2021 we're going to hit all-time highs 2022 maybe a little bit sooner we're going to see a dip and then 2023 a reset and everything starts again but here's the big thing if all these institutions and all these corporations all these people know about it they know about these four-year cycles they know that I know it they know that you know it they know that everybody knows it the question is will they front-run this bear market and go you know what once we see this hockey stick instead of it letting to go to like from you know 130,000 of bitcoin up to 150, 200, 210,000 we're just going to cut it off at a certain point and just start selling and then once you see somebody sell a massive amount of bitcoin you have to understand the people that are getting in after you or actually a lot of people right now there's a survey one in three people don't know what the hell they're actually investing in never like look I bought bitcoin at 110,000 and or 130,000 and now went out to 80,000 this is junk or it goes in 130 even 120 they're like this is junk I'm out of here because they don't understand let me for you know what they sell of course the institution sell first drops it these guys don't know what the hell they're doing they sell second third fourth fifth one millionth and before you know what the whole thing goes down 40 50 60 percent 70 percent and then of course the news rags pick it up CNBC MSNBC like see who told you it was a bubble then you got Rubini out there and Peter whatever that guy's name is that gold bug guy I will never say his name they're going to be out there going yep yeah told you told you he's just so stupid you should have listened to me you should have bought you know tomatoes or whatever and then before you know it for another bear cycle so I know when people say this is different it's not different that's just how it is all right so that was my rant for a little bit so first of all if you made all the way and I want to say thanks for sticking with me if you like that video and you found some value give it a thumbs up I really appreciate it also consider subscribing a lot of things we talk about our time sensitive and that is it also I'll put two more videos up left to right one of our top stories that'll come up and that is all so thanks for watching I appreciate it see you in the next one