⚠️ BLACKROCK IS COMING FOR CRYPTO! BITCOIN SPOT ETF: MY THOUGHTS!

What is up? I am Crypto Mason, and welcome back to the Crypto Mason YouTube channel. Shout out to the Gold Squad. We look for gold in every single aspect of our lives, and we always find it. Now today we're going to talk strictly about the Bitcoin ETF news. We do have Coinbase sponsoring today's video, so thank you to them for that. By the end of this video, if you watch until the end, you're going to know what the spot Bitcoin ETF is what just happened with it because they did get approved. You're going to know my thoughts on that, why it matters that it's a spot Bitcoin ETF. Like, it's very important that it's spot because we already had futures ETFs. And we're going to watch some peculiar opinions from the CEO of JPMorgan, Jamie Dimon, and another guy. And I'm going to cook them. I'm going to cook them. So drop a like, uh, drop a comment down below, join the Gold Squad Discord, and let's get straight into the video. Our Fear and Greed Index, which, uh, CoinMarketCap has recently put this here, is at a 63. Okay, 63 on the greed meter right there. The Fear and Greed Index. Bitcoin is sitting at $42,363. We're also going to answer this question in today's video. Why the heck is Bitcoin not going up from the ETF news, right? Why does it feel like it's stagnant right now? Uh, because Bitcoin is still sitting at $42,000, uh, and ETH is at $2.5K. As far as our top gainers today, we have SEI. I haven't done much research into that one. We have Render. We have done some research into that one. Very cool project. We've got Dydex. We've got Flare. If you guys want an in-depth market update on all the altcoins and everything we usually talk about, that's going to be in a separate video today. This one we're going to strictly talk about the Bitcoin ETF. So let's keep it moving. Let's take a look at the Bitcoin trading chart right here. Uh, this is what we're looking at on TradingView. So clearly right here something happened, right? Like we ran up to almost $50,000, $49,057. Okay, so we did not touch $50,000. I was hoping we touched $50,000. Uh, however, this was the day that the ETF, the spot Bitcoin ETFs were approved. Now what happened before the spot Bitcoin ETFs were approved was that the SEC's Twitter account got hacked, uh, and they posted We now know it was early news. They posted— this hacker posted early news that the ETF was approved, and we got a deathly, deathly candle liquidating a lot of— I believe it was on January 9th— liquidating a lot of people who were long and people who were short. So this is what we're looking like. I have our Patience Indicators Kit on right here. You can see that, you know, as soon as we get to the top of this band, we start to come down. Uh, and this is the 12-hour chart, okay? Momentum looks like it's coming up, coming back up here. Um, I will say we're kind of— we're just ranging, like it's really doing nothing. It's pretty crazy that we're still doing nothing. Now let's get into, uh— and by the way, my thoughts on, on Bitcoin is that we will chop sideways just like we've been doing in this type of range. However, no one knows what's going to happen. The ETF was a buy the rumor, sell the news scenario because we have not been ripping like crazy. And you'll start to notice that every time that everyone in crypto is saying that something's going to happen for sure, it always does the opposite, or it does something you never expect. Now let's talk about the spot Bitcoin ETF situation. Okay, so spot Bitcoin ETFs explained. This is everything you need to know. Okay, so Investopedia, great site for learning. A spot Bitcoin exchange-traded fund— that's what ETF stands for— is an investment vehicle that allows ordinary investors exposure to the price moves of Bitcoin in their regular brokerage accounts. So everyone knows that you must use a crypto exchange like Coinbase, for example, to buy your Bitcoin. And Coinbase is a great place, uh, to on-ramp, which means taking your fiat dollars, like your regular money in your bank account, and getting it into crypto, right? So everyone knows you must use exchanges like that, uh, to to get Bitcoin. But this allows people right through their bank, right, right through their regular brokerage account, like where they trade options and stocks and all of that, uh, to get involved in Bitcoin. So it makes it a lot easier. We're going to talk about what volume, uh, amount these ETFs actually saw. Are they successful, and what do they actually mean? So that's what an ETF is. Right? So this like allows it to be more easy for my grandma or older generations who, who only use brokerage accounts and can't figure out crypto exchanges. This makes it easy for them, uh, to get into spot Bitcoin or to get into, uh, to, um, Bitcoin. Now the main difference, the main difference with a spot Bitcoin ETF versus something like a a futures, uh, ETF, which right here on the Blockworks Bitcoin ETF tracker you can see that there are some futures ones, right? And these have been around for a while, these futures ones. Uh, the difference is that spot means that they actually have to own the asset. So if the ETF wants to grow, like, they actually have to own the Bitcoin. So, so in turn, that could increase volume and increase or increase, you know, the actual price of Bitcoin, or it can actually more affect the price of Bitcoin directly. But this basically just allows them to get it through their regular brokerage accounts. But as I said, Coinbase sponsored this video. Take a look at this interesting segment about the Coinbase platform. Coinbase, the sponsor of this video, is the largest publicly traded cryptocurrency exchange for beginners and it now has an advanced trading platform with highly competitive fees and deep liquidity for sophisticated traders all around the world to use called Coinbase Advanced. Coinbase Pro is now Coinbase Advanced, and it's easier than ever to access right on the Coinbase website and Coinbase mobile app. It's a great platform for advanced traders who perform their own technical analysis and want to access powerful tools to execute their trading strategies, from scalping to API trading, placing limit and stop limit orders, or utilize indicators or perform technical analysis on advanced price charts powered by TradingView. Check it out. Simply log into your Coinbase account, click on the profile button in the top right-hand corner, click advanced, and click this dropdown button to choose from their huge selection of over 550 cryptocurrency spot pairs such as CHZ. And here we have an advanced price chart, depth chart, order book, trade history, and the ability to place limit, market, and stop limits all in one clean dashboard. To place a limit order, click Buy, click Limit, and enter the price that you want the order to execute at. Choose the amount and click Buy CHZ. Simple as that. Just by taking a moment to learn how fast and easy it is for advanced traders to start using Coinbase Advanced for trading, whether it is performing technical analysis and more. So sign up and log in using the links below to check it out and learn more by going to advanced.coinbase.com. All right. Now that we're back we are going to talk about why or how these did, right? So essentially they hit $1.8 billion on trading day 3. So within 3 days of them being on the market, they had roughly $10 billion worth of volume flow through it. So right now you can see that Bitcoin is at $21 billion of 24-hour volume. Uh, one of the cool things you can do is sort by 24-hour volume, and you can see that Tether has $40 billion going through it. Then we got Bitcoin, ETH, uh, we've got First Digital USD— no idea what that is. Um, and then you can see some of the other, uh, coins that are getting good volume. Uh, but in my opinion, this is, this is a success, right? Like, that's a lot of money that flow— that that flowed in there, uh, $10 billion total over 3 days. So keep a— keep an eye on these, uh. You can also track all of them through the Blockworks ETF tracker right there, uh. But let's get into some of the opinions that have just came out, um, on Bitcoin, okay? And before we do that, one of the, the things I wanted to cover is BlackRock, okay? We know that BlackRock is trying to control Bitcoin. They're trying to get their hand in the pot because they're a little bit late. They're a little bit late. We were in before all of these big banks and institutions. BlackRock now holds 16,000, uh, Bitcoins worth over $700 million for their spot Bitcoin ETF. Now the thing I find funny is when Bitcoin maxis try to cheer for BlackRock getting involved. The whole philosophy of Bitcoin in the beginning was screw the institutions, screw the banks, we're going to become our own banks and use our own peer-to-peer electronic cash. And it is not that. You don't have an ETF based on cash, right? Like, like digital cash. Uh, they're looking at this more of as more, uh, as an investment now. So I just find it funny that the Bitcoin maxis are cheering for all these giant banks and firms to get involved. It's kind of funny to watch. Uh, however, let's take a look at one of these moronic firms. And this is just my opinion on Jamie Dimon. Uh, we're going to watch this 2-minute clip and then we're going to break it down. Here we go. Uh, get ready for to laugh.

Cryptocurrencies, there are two types. There's a cryptocurrency which might actually do something. Think of a cryptocurrency as an embedded smart contract in it, and then we can use it to buy and sell real estate and move data. That may have value. The idea of tokenizing, tokenizing things that you do something with. And then there's one.

So right there, Jamie Dimon believes slightly in smart contracts and tokenization of assets, and that's great. And I commend him for being able to see the value in that because smart contracts will change the world and are changing the world, and tokenization will do the same.

Which does nothing. I call it the pet rock, the Bitcoin or something like that. And so on the Bitcoin, you know, there's first, and I'm, I'm not trying to make a joke here. There are use cases, AML fraud, anti-money laundering, tax avoidance, sex trafficking. Those are real use cases. And you see it being used for hundreds, maybe $50 or $100 billion a year for that. That is the end use case. Everything else is people trading among themselves. So, yeah, now, okay, so he first of all calls Bitcoin a pet rock.

It does nothing. Um, I sort of agree that it does nothing. There's, there's not a lot of utility for Bitcoin except sending it back and forth and trading it, which he's kind of right on that. However, he then dumps a stupid opinion, basically saying that Bitcoin is only used for all this illicit crime, right? You are the biggest moron in the world if you use Bitcoin for crime. It's all traceable from the beginning of time. Every single wallet, wherever you send it, it's all findable and traceable. And that's why the government has caught so many people using it for that.

Now, my last statement, the last time I ever talk about Bitcoin is I defend your right to do Bitcoin. I think, you know, it's okay. I don't want to tell you what to do. So my personal advice is don't get involved. But I don't want to tell anyone what to do. It's a free country. What do you think? So what do you make of that?

What do you make of the other firms, the BlackRocks of the world that what do you think that obviously, and Larry Fink changed his view of this obviously, and maybe he changed his view because you think he genuinely believes in Bitcoin or believed it because he thinks that there's a marketplace for it and he wants to be part of that market, but what do you think of the, and there's about a dozen big financial companies, Fidelity included.

Number one, I don't care. So just please stop talking about this shit. And I don't know what he would say about blockchain versus currencies that do something versus Bitcoin that does nothing. And maybe that's not different than me, but you know, this is what makes a market. People have opinions. This is the last time I'm ever stating my opinion.

Gold really didn't do anything either.

Yeah, but gold's limited in supply. So is Bitcoin. And it's been used— ah, so you think this is—

so first of all, this guy's— this guy chimes in and you can see this guy tapping his fingers the whole time. Like over here, if you watch, he wants to chime in and say something because he actually has some decent opinions on Bitcoin. So basically he says gold is, is a, is a limited supply. That is false. It's just false. You could find more gold, right? Like we do not know how much gold for sure is on the earth and in space and the asteroids too. Because they could start mining asteroids and then you'd have more gold supply, right? So, and what the hell does gold do? Nothing. You cannot eat gold. You can't even pay for regular things that you need to live with gold. No one is going to take gold, physical gold for your groceries. It doesn't work, right? So gold is kind of trash in my opinion. I don't like gold. I don't hold it. Like in the end it does nothing, right? And you could argue the same for Bitcoin. Like Bitcoin, you can't eat it, you can't, uh, hunt with it. Like it's, it's a made-up thing, right? But there is a for sure limited supply of it on the earth, right?

Yeah, but gold's limited in the supply. So is Bitcoin. And it's been used. Uh, so you think so, huh? I do. I think there's a good chance that when Bitcoin when we get to that 20 million Bitcoin, they go to 42. No, that Satoshi is going to come on there, laugh hysterically, go quiet, all Bitcoins will be erased.

I think, man, this dude just said Satoshi. That just shows you Satoshi's gonna come back and wipe and clear Bitcoin. That's what he just said.

Erased.

I think, man, how the hell do you know it's gonna stop at 21?

I've never met one person who told me they know for a fact They take this—

mathematically, it's not— it can't happen because by the last one will be mined in 2150, and it gets harder and harder every time there's another halving. But, but Jamie, looking back over—

you guys do what you want, I'll do what I want.

As for gold, you can— the 6 characteristics that make gold valuable for 4,000 years, they're all present in Bitcoin. That's all I'll say. And I love you, and I don't want to— and I also don't— I don't also don't want to be a—

you may— Joe, you may be right.

Yeah.

I don't own gold either, so.

Okay, just, just a crazy— like, shout out to this guy for standing up for Bitcoin right there. And you can see the other two hosts are just like, I hate these type of people, bro. Like, as soon as they're actually trying to have a good discussion, these two, these other two hosts just go down. Like, come on, it's just trash. And he says the six characteristics of gold are all present in Bitcoin, which I absolutely love. Um, this one, essentially, we're not going to play this one, uh, but this is the Cantor CEO Howard Lutnick, um, and he's talking about Tether, and he says that he manages Tether's assets and he's seen the money, that they do have the money. Okay, and I wanted to include this one because this is new stuff coming out of Davos, right? Davos is on right now again, uh, in this snowy cold place they always do it in. Um, and he says that he's seen the asset, so I wanted to put that in here. But that is all we've got for today's video. Thank you for watching until the end. Drop a like and comment, subscribe, and goodbye.