BlackRock keeps pushing Bitcoin into boomers' portfolios, and few of us could’ve predicted a few years ago that one of the largest investment funds by AUM, if not the largest, would do so... It feels like just yesterday we were only dreaming of such exposure for Bitcoin, and here we are now.
The all-mighty BlackRock is into Bitcoin, and my gut tells me they’ll diversify pretty soon. It’s not just about Bitcoin—never was, never will be. It was crystal clear when Bitcoin launched that it would spark a new era of digital wealth and economies.
Tesla was the first EV to scale, but now we’ve got so many EVs on the streets that aren’t Teslas. That doesn’t make Tesla the best or the worst; it’s just another player in the EV game. That’s exactly how I see BTC: a project with a purpose, among many others.
Despite the market headwinds we’ve faced since March 14 when BTC hit a new ATH, Bitcoin has remained in the spotlight on some of the world’s most important stages. We already had a crypto-friendly president in El Salvador, and now we’re seeing Donald Trump becoming quite crypto-friendly too.
Or at least trying to look like it. Apparently, yesterday in New York, he went to a bar that accepts Bitcoin payments and paid with BTC, supposedly from a wallet on his iPhone 7 (at least that’s what it looked like). It’s great for his political campaign, but he doesn’t fool me.
Don’t get me wrong—I’m not anti-Trump. All I’m saying is that a lot of the stuff he’s promising to do if he gets back into office, he could’ve done when he was already there. Same goes for Kamala... My take is that Trump probably likes Bitcoin more than the dollar, but that doesn’t mean it’s bad for us that a potential future president is into Bitcoin.
Or at least trying to act like he is...
BlackRock and Trump getting pro-Bitcoin is something, but they’re definitely not doing us any free favors. BlackRock profits immensely from its BTC offerings, and Trump would say almost anything to secure his win in the presidential elections. That’s how I see it.
The Fed cut interest rates by .50 BPS, and while some are bullish about it, others think we might see a repeat of 2001 and 2007, two periods when the Fed also cut rates by .50 BPS after years of raising them.
For me, the math is pretty simple: the crypto market will likely surge aggressively in Q4, as it has in previous cycles, and peak sometime in 2025. I don’t know how high BTC will go or when exactly it will top out. All I know is I bought from pessimists and plan to sell to optimists. I hope you’re doing the same, and we’re all about to make life-changing profits this cycle.
Thanks for your attention,
Adrian
