 Hello everybody welcome to the Thursday live stream So we got a lot of things that covers let's just jump right in first of all You notice that my voice a little bit different if you were listening to The NFA live show that we did with me and Ben from in the Cryptoverse and a guy from coin Bureau You will notice that of course it's deeper and that's just how it is. Unfortunately right now I'm recovering from the flu. That's why I have been doing too many videos So today I just wanted to jump back into it as I'm feeling a little better And we'll see what's going on So just like the thumbnail the title suggests we're gonna take a look at some that potentially big could be happening on April 15th Now the Bitcoin having itself is around April 20th, April 19th depending on the blocks when they actually get mined But right now it looks like there's some positivity and this is I think it's been covered a little bit over the last couple of days But now we have an official date. So it looks like Hong Kong's expect to approve a spot Bitcoin ETFs in Mid-April and this is big because first of all Hong Kong is not China. China is not Hong Kong. It's I believe they they talk about it as a two systems, but one state and so when we take a look at Hong Kong It's not like China is going to immediately adopt things So don't be super impressed by this right now But it seems like Hong Kong is like the proving ground for what China eventually does now if you live in China or Hong Kong Please chime in on the comment section, but as I read that is that's what I get from the information that I have read Here's what we got So Hong Kong Securities and Futures Commission or SFC will likely announce the approval of the city's inaugural spot Bitcoin ETF around April 15th. The approval will enable both. This is what I found interesting I guess sometimes when they do this especially in different countries, especially for an ETF They will only allow Certain types of investors accredited investors people high-valued net worth but in here they're going to enable both institution and retail investors to engage in Bitcoin investments via regulated ETFs And this is the step in the right direction and this is just more money flowing in and of course as we've gone through this We know that with the ETFs we can just see how much Bitcoin is being taken off the exchanges and is being held by Either the institutions themselves or of course The people that's or the institutions that they have designated so in this situation Majority is being held right now by Coinbase as customers are buying ETFs through these institutions Such as BlackRock and Fidelity and things like that. Remember as we've gone through this You can see just how much Bitcoin has been hoovered up By these ETFs so again people they don't want to buy spot Bitcoin ETF They want to get an ETF into The ETF regulations themselves to make things easier and maybe a little bit cheaper maybe a little bit faster cheaper is debatable But you can see that, you know, 200,000 300,000 400,000 500,000 So on and so forth. There's quite a bit of Bitcoin. That's actually again being Put in and being taken off the market and there's only so much that's that's available right now Like we're at 19 and a half million that doesn't include the three to six or six point five million That's been lost along the way So I expect a supply crunch like everybody else does at some point, but we will see and lastly before we move on I Thought it was interesting that in the beginning you can see here in blue This is grayscale and grayscale of course had the all the Bitcoin 619,162 And as time has gone on I bit or BlackRock is the one that is really competing and taking everything away from grayscale as people get out of grayscale because of their either their high amounts or people had to sell off because of they were Associated with FTX or something else that was going on behind the scenes, but you can see right now that for I bit there are 266,000 588 and Grayscale is 315,000 so they're catching up But at some point they'll overtake them and then of course the bleeding will stop from grayscale, but again, we'll see These are the things we like to see again I think this will be for a good for price appreciation, but there was this caveat. I thought it was interesting This was from the Van X CEO and he states that 90% of Bitcoin ETF inflows are still retail I got to tell you if that's the case I Personally don't believe it's it's 90% retail, but that's what the Van X CEO is does But let's just let's just suspend this belief for a second and think to ourselves What if it is just retail right now 90% of retail is is Buying up Bitcoin these ETFs. What does that mean as time goes on? It means that there could only be one outcome There's gonna be a massive amount of demand and not enough supply because institutions come in with even more money And of course that we get to get what those what people call the God candle. This is what we got This is Jan van Eck. He was on stage at Paris blockchain week guy holding the mic right there And he says this he says I was surprised, but I don't think it's traditional investors yet I still think 90% of the flow is a retail You've had some Bitcoin whale and some other institutions move some assets in but they were already Exposed to Bitcoin jam and exit then exit the next month Again, think of it this way man next of the next month could see the arrival of some major institutional investments from banks I know that they've already gone through the CFTC SEC and asking them for the approval to actually custody Bitcoin because they got aced out By exchanges such as Coinbase. So if this is true, this could be big Again institutional investments from banks and additional firms But but that the Bitcoin ETF landscape was still in its infancy There's a lot of maturation to happen a lot of tech will be developed on chain There's a long way to go And then he's asked why investors prefer ETF over directly buying and he's I think in this point He's right convenience safety and affordability. He had 2% spreads on many centralized exchanges platforms like Coinbase I think we can all agree there unless you're using Coinbase Pro some of those prices are a little bit wonky We have single-digit spreads for the ETFs and no fees or low fees I think there was some that were actually suspended for up to a year It's easier just to do a buy ticket than anything else and before anybody says well That just sounds like a somebody who's who's not big into Bitcoin Remember Vannac is one of the original ones to come out and in 2017 They put a report that said that Bitcoin will not replace gold But it will significantly complement it in people's portfolios and back then in 2017 That was revolutionary for a big institution to come out and actually say that so Vannac has been huge long Gold for quite some time and they come out and then say that in 2017 It was big and now coming to say this so who's right? It's anybody's guess But I can just say this if we have more institutions and retail coming in in Hong Kong And we have institutions that haven't come here full force yet Imagine what the price could be looking at May June July and then going into the end of 2024 2025 Be aware of there's some macro effects that are going on and of course We'll see if there's rate cuts, but it's anybody's guess anyhow Let me know what you think about that in the comments section and then To follow up on this and what was said about Jan talked about how bitcoins and its infancy there's nothing that's that's taking shape And talks about this is from Franklin Templeton one of the oldest institutions out there They shine a spotlight on the bitcoin ETFs and the visman firm notes that bitcoin NFTs role in crypto innovation and market changes. This was a quite a stagnant boring report, but it just pretty much says that things are moving in the right direction for NFTs and ordinals and things like that as far as being on on bitcoin and I have to agree here I know some maximalists absolutely hate them, but That is innovation like it or not. It's not going anywhere. And that's just what it is So what I did Partly because of this and probably because of my own curiosity If we're looking at bitcoin NFTs and ordinals, I think we should all understand what's happening here So what I did was I reached out to magic eden and I said, hey, I Don't really understand this that well And I'd like you guys to come on and explain things like runestone and bitcoin ordinals and things like that And I said sure well come on and I said great It's only gonna cost you one one bitcoin to do it. I was kidding. I didn't charge him And we'll be doing like an education series like three or four videos We can explain what that is and how it all works out. So I've got looks like jack lew He'll be on 16th of April. I'll record it and I'll let everybody know And then I've got I got josh and rob actually Next week as well and they're from cornucopia's they'll be on and then I got ilia blushkin And they got no he'll be on the 6th of may So that'll be the calendar for digital asset news. So pay attention to that and we'll see how it all works out but Getting back this whole thing about innovation and things like that I know people talk about d-pin and such But I think a lot of the things that are going to happen are going to be l2's built on bitcoin There's a great website. I've been talking about l2 dot watch And imagine this you we hear about these ordinals and these nfts But we realize one big thing which is that bitcoin can't handle that Let's be honest. I mean, have you seen the transaction fees when ordinals came out? It trumped ethereum and for pete sakes ethereum was ridiculously high And you're gonna tell me bitcoin's gonna get that higher. We need l2's I'll just call a spade a spade So I see projects doing this which are going to open up a lot of different things. There's a lot of things coming out but We talk about meme coins and things like that and how big they are and people like the gamble I get it So one of those I'm going to be doing a deep. There's a lot of these look at how Stacks I already own I've been owning that for like over a year and a half now, but there's one called core It's a layer two and it's it's it's up there. It's not like in the thousands. It's ranked 64 I think it reached the highest 49th and what it is it's using daps secured by bitcoin built with a Built with an evm ethereum virtual machine compatible smart contracts and a bitcoin power blockchain imagine that So I'll do a deep dive on that and we'll see how it actually goes. I think this could be the future moving forward But who knows Anyhow, let me know what you think is going to be the future and then lastly to finish up regulations We talked about this about the uniswap with the wells notice being served in today's video and it was It's pretty good me ben and jane Excuse me. We've been a guy We've been a guy. We're talking about it and It bothers me. It bothers me a lot That the government can step in specifically gary ginsher on the sec and just put a wells notice and kind of put a big wet blanket on innovation And it's not just and I wanted to talk about this, but I I didn't so I linked this video in the description. You can check it out but also remember that When the u.s. Government steps in and sues anybody Just know there's going to be repercussions if you win or you don't win like coup coin Uh They came under scrutiny by the doj and the cftc The reason was because of aml anti money laundering, which is the same thing they got cz finance for And this was just uh april 3rd I don't think I heard about this from anybody But once they were were served that they were under investigation their market share declined by 50 percent Why is that it's because everybody wants to take their crypto off of coup coin Which essentially is detrimental to their entire business. So imagine You can by doing absolutely nothing just filling out a piece of paper and saying here's your wells notice We're going to sue you That things should drop by 50 percent. It's not all doom and gloom, but I just thought it was interesting Just how how the effect that it actually could have So talking about the negative. I don't want to be A debbie downer Or a wet blanket constantly, you know, I try to try to be a little bit balanced So let's just say this This was a report from bitcoin magazine apparently Uh bitcoin friendly south korean opposition party has won the election. That's good One understands south korea is pretty progressive and they're actually very Bitcoin friendly moving forward, but it looks like the opposition opposition party has won the election They are committed to allowing domestic investors to buy bitcoin. I said, hey It sure would be nice if we get some crypto friendly people in office, too And that's really what it comes down to if we get the right people at the right time in the right office We can really supercharge what's going on. The problem is there's a massive amount of hindrances Which are going on in I have to say it the presidency the white house Uh congress and three letter agencies such as the sec So we have something like that, but there's things that give me hope This was a report from crypto slayed a couple of days ago US senator claims by an administration uses crypto escape goat to mask failures and halting illicit finance Ooh juicy So this was from april 9th. I don't know what's the date today 11th. Yeah On april 9th Senator tim scott accused the current us administration of making digital assets the scapegoat in efforts to combat terrorism financing Ignoring more significant more traditional sources of such funding. Tell me more He argued that this narrow focus sidelines significant sources of terrorism funding which includes iran's 35 billion dollars in oil exports an additional 16 billion in us hostage relief And electricity waivers which according to scott facilitate the iranian government's misuse of funds according to scott The focus on crypto misses the elephant in the room as the scope of the conversation regarding illicit finance as far larger than digital assets meaning essentially what it comes down to this Is that crypto is being used the scapegoat? You can see it with gary ginsler You can see it with elizabeth warren. You can see it with a ton of different senators and congressmen and women and this is just how it's going to be so hopefully We get a little more people in like south korea That is a little bit more crypto friendly and then if you're wondering Who tim scott is this is tim scott and he's On the short list for the vp for donald trump before anybody says Well, I thought this was on a political channel. It's not i'm just telling you that's what it is so That'll conclude that piece and then lastly lastly Two things first of all for if you're looking for the roth IRA, which I have for the last two years I use iTrust capital and you're sick of paying taxes on crypto. This might be an opportunity for you So iTrust just so you know april 15th You're able to contribute to your roth IRA meaning when you contribute those funds into your roth IRA It becomes tax exempt You can actually trade with your roth IRA and that is also taxed exempt And you have until april 15th to contribute to 2023 After april 15th or april 16th when you contribute it goes to 2024 And there's a limit and usually it's around eight thousand dollars per year So just let everybody know that's a public service announcement And there was a video I put out it was me and jared fellman And he's from my trust and there's a couple of things he talked about and there's some good lessons in there It's under three minutes. I'm not gonna play it. I'm gonna have you if you want to check it out You can but he says essentially this he goes look he goes we've been through the bear market We were study We were measured when everybody was asking us to add tokens like ftt And celsius and things like that. We said no because our due diligence said we couldn't we shouldn't do that and they were right I've been with them for two years now going on three seems to be things are working out pretty well And the last thing we talked about was on balance first off balance on balance are the things that centralized exchanges do Which is why I have these rules underneath me because I like to I don't like to waste my breath But number third rule there is don't leave it in exchanges jared said the exact same thing He goes we don't have on balance. Everything is off balance meaning if something happens to us those are in Regulated funds where they can be moved and they're not part of our income in any way shape or form anyhow Watch that piece and you'll understand what I'm talking about and then lastly lastly. Sorry Roth IRA taxes are due so you know what uh With gary genzler and we talked to this today gary genzler and you know hymston sue and uniswap. He needs your money to be able to pay the lawyers to sue The decentralized exchanges and centralized exchanges and essentially get caught lying in court And the only way to do that is to pay your taxes That's probably the worst sales pitch you can possibly get but I just pay taxes because I don't want to go to jail and As far as taxes in the u.s. Don't skip don't skip yes or no if you own taxes if you go through a centralized exchange They're gonna know so sorry charlie but Here's some good news. I was watching this video. I have no association with mark kohler. He's an interesting gentleman And he's a lawyer and a cpa and he put out he puts out great stuff And he's a crypto enthusiast as well He put out this video called 10 crypto loopholes the rich used to get richer. It's very interesting Of what he put in there Again, no affiliation. I linked in the description. You can check that out but one of the things that that he talks about Using is he uses coin ledger. I use coin ledger Super simple you sign up there's a link in the description Get like 10% off. You don't have to use it. You can go to coin ledger.io if you want to but That is what i'm using for my taxes again this year I think it's my third year from the time that I started up Put all the information in because it's already got my information like 30 minutes I just zip it over my cpa and that's it also If you're looking for after you watch the kohler video, you're like, hey, I like to find a someone else to help me because there's some Tricky stuff click on find a crypto tax expert and there's a bunch of other people there that you can get information from And that's it for today. So look That concludes today for the video