WEBVTT - Bitcoin ETF Explosion: Navigating the Financial Waters Post-Approval 0:00:00.080 --> 0:00:02.640 Hello, and welcome to another episode of The Mark Moss Show, 0:00:02.680 --> 0:00:06.280 where we're always talking about, of course, the decentralized revolution, 0:00:06.320 --> 0:00:08.200 talking about the way the world is breaking apart. We 0:00:08.240 --> 0:00:11.040 look at it through the lenses of politics, finance, and technology, 0:00:11.080 --> 0:00:14.480 and of course that technology is bitcoin. It's a decentralized 0:00:14.480 --> 0:00:18.880 technologist changing the world. And wow, have we had big 0:00:19.040 --> 0:00:22.000 news this week. Now. Shouldn't be a big surprise because 0:00:22.040 --> 0:00:24.319 I've been talking about it for a long time, but 0:00:24.640 --> 0:00:26.640 all of this talk, all of this conjecture, all this 0:00:26.680 --> 0:00:32.559 speculation finally came to pass this last week with the 0:00:32.840 --> 0:00:38.040 SEC finally approving a bitcoin ETF, and not just approving 0:00:38.080 --> 0:00:43.440 a bitcoin ETF, but approving eleven bitcoin ETFs, and it 0:00:43.520 --> 0:00:46.920 went off with massive amount of fireworks. You do not 0:00:47.200 --> 0:00:49.320 want to miss out on this, So we're going to 0:00:49.400 --> 0:00:54.160 break down what exactly happened, what happened before God approved 0:00:54.200 --> 0:00:58.400 that basically shook the entire market and caused a massive problem. 0:00:58.560 --> 0:01:00.400 I'm going to dig into that and we're going to 0:01:00.440 --> 0:01:03.200 talk about exactly what happened the eleven that got approved, 0:01:03.400 --> 0:01:06.400 what we're already seeing already, the good actors, the bad actors, 0:01:06.440 --> 0:01:08.040 the ones you need to stay away from the ones 0:01:08.080 --> 0:01:11.280 you should be using instead and what you could be 0:01:11.440 --> 0:01:14.040 expecting in the days and weeks ahead. We're gonna cover 0:01:14.160 --> 0:01:17.080 all that and more. You do not want to miss this, 0:01:17.319 --> 0:01:20.960 so don't walk away from wherever you're listening to this. 0:01:21.000 --> 0:01:22.760 All right, we're gonna dig into this, but let's just 0:01:22.800 --> 0:01:24.720 talk about this for a minute. First of all, like 0:01:24.720 --> 0:01:26.600 I said, the ETF got approved. Now, what does the 0:01:26.640 --> 0:01:28.640 ETF even mean? For those of you that don't know, 0:01:29.520 --> 0:01:30.880 let me just break it down for you real quick. 0:01:30.920 --> 0:01:34.039 It's an exchange traded fund. So it's basically a fund 0:01:34.319 --> 0:01:37.160 that pools assets together and allows you to buy them 0:01:37.160 --> 0:01:39.720 to the very easily. Now, ETFs have mainly been around 0:01:40.040 --> 0:01:43.280 for things that are hard to buy. Specifically, they work 0:01:43.319 --> 0:01:47.200 really well for commodities. So think like uranium. You can't 0:01:47.240 --> 0:01:49.920 really buy uranium, you can't really store it. Oil you 0:01:50.000 --> 0:01:52.240 can't really store oil, and so you can buy them 0:01:52.280 --> 0:01:55.680 through an ETF a fund. But they are also you 0:01:55.720 --> 0:01:58.280 can make a basic an ETF for anything. So I 0:01:58.280 --> 0:02:01.400 could just come up with a theme like the decentralized theme. 0:02:01.440 --> 0:02:04.000 For example, I could put a whole bunch of companies 0:02:04.120 --> 0:02:08.000 stocks into this basket that fit into this theme. Of decentralization, 0:02:08.200 --> 0:02:12.040 and it could be a decentralized ETF for example, that's 0:02:12.040 --> 0:02:13.560 not what we're talking about here, we're talking about a 0:02:13.639 --> 0:02:17.359 bitcoin ETF. Now. They've been trying to get bitcoin ETFs 0:02:17.360 --> 0:02:19.840 through for years and years and years, and the SEC 0:02:19.880 --> 0:02:23.400 has continually denied them over and over and over again 0:02:24.080 --> 0:02:31.320 for unknown reasons. In twenty seventeen, we saw commodity futures 0:02:31.360 --> 0:02:35.560 trading open up for bitcoin, so we could trade bitcoin futures, 0:02:36.400 --> 0:02:40.640 which is, you know, protected another form of a regulated 0:02:40.680 --> 0:02:43.160 and protected trade in the United States. So futures have 0:02:43.240 --> 0:02:47.040 been okay, but not ETFs. Why is that, Well, we 0:02:47.080 --> 0:02:50.360 don't really know, but we have some speculation. Part of 0:02:50.440 --> 0:02:56.680 it is because the SEC, the government, Gary Gins or 0:02:56.680 --> 0:02:59.600 whatever you want to call it, doesn't want a bitcoin 0:02:59.639 --> 0:03:01.919 ETF to go through for any number of reasons. Potentially 0:03:01.919 --> 0:03:04.400 they don't want the number to go up. You see, 0:03:04.440 --> 0:03:08.440 when you do a futures you're basically betting on the price. 0:03:08.600 --> 0:03:11.000 You're not buying bitcoin, you're just betting that the price 0:03:11.000 --> 0:03:13.880 will be higher or lower, and you're settling in cash. 0:03:14.560 --> 0:03:18.720 These ETFs are spot etf. So what that means is 0:03:18.760 --> 0:03:21.960 if you put a dollar into the bitcoin ETF, that 0:03:22.040 --> 0:03:25.080 ETF now has to go buy a dollar worth of 0:03:25.080 --> 0:03:28.799 bitcoin on the market. And if you know anything about economics, 0:03:28.960 --> 0:03:32.880 economics one on one, all prices move on supply and demand. 0:03:33.240 --> 0:03:36.200 So if you have more demand, more people trying to 0:03:36.200 --> 0:03:38.520 buy bitcoin through the ETFs and they have to go 0:03:38.560 --> 0:03:41.560 buy it, then it's going to then push the price up, 0:03:41.600 --> 0:03:45.600 assuming that the demand stays the same or even goes down, 0:03:45.640 --> 0:03:48.119 which we'll talk about because the supply, the fly goes down, 0:03:48.160 --> 0:03:50.280 and we're gonna talk about that. Because the supply is 0:03:50.360 --> 0:03:52.720 going down, it's known as the having event, all right, 0:03:52.760 --> 0:03:55.840 So that's sort of the high level this ETF potentially 0:03:55.840 --> 0:03:57.880 they didn't want to go through. Now it started to 0:03:58.160 --> 0:04:00.840 escalate because you know, more and more company started putting 0:04:00.840 --> 0:04:04.080 these ETFs proposals through, and the SEC has been denying 0:04:04.080 --> 0:04:07.400 these things for years, no big deal, but people have 0:04:07.400 --> 0:04:10.120 been continue to push back, push back, push back. Gray 0:04:10.120 --> 0:04:15.800 Scale took them to court and basically the SEC lost 0:04:16.000 --> 0:04:19.320 because they said that, hey, you guys really have no 0:04:19.440 --> 0:04:24.360 reason to deny these things. Now, things really escalated when 0:04:24.560 --> 0:04:28.480 Blackrock put their ETF proposal through. When Blackrock put their 0:04:28.480 --> 0:04:31.839 ETF proposal through, I basically knew it was a done deal. Right. 0:04:31.920 --> 0:04:35.440 Blackrock operates as sort of a semi quasi arm of 0:04:35.480 --> 0:04:38.160 the government. We've seen through twenty twenty the banking crisis 0:04:38.160 --> 0:04:41.080 in twenty twenty three, where they work on behalf of 0:04:41.200 --> 0:04:43.440 the government to do things right. So that's why I 0:04:43.480 --> 0:04:45.640 call them like a semi quasi arm of the government. 0:04:45.800 --> 0:04:49.920 So when Blackrock, which dominates the ETF space by the way, 0:04:50.080 --> 0:04:54.000 put an ETF proposal through dominating the ETF space working 0:04:54.040 --> 0:04:55.920 with the government, it was like, come on, of course 0:04:55.920 --> 0:04:57.480 they're going to get this through. Like they would not 0:04:57.680 --> 0:04:59.840 have done this if they didn't know that they could 0:04:59.880 --> 0:05:01.880 have already got it through. And so we knew it 0:05:01.920 --> 0:05:03.440 was already a done deal. I knew it was a 0:05:03.440 --> 0:05:05.200 done deal. We've been talking about this for a long time. 0:05:05.400 --> 0:05:08.480 The only question came down to when. It wasn't a 0:05:08.560 --> 0:05:11.240 matter of if, it was a matter of when and 0:05:12.600 --> 0:05:15.560 a question of what would happen after the fact. And 0:05:15.600 --> 0:05:17.719 so here we have it. They got approved and we've 0:05:17.760 --> 0:05:23.760 been seeing fireworks now. I made a video back back 0:05:23.920 --> 0:05:27.240 the first week of December, I think December fourth, and 0:05:27.360 --> 0:05:30.960 the title of that video was warning about the approval 0:05:31.000 --> 0:05:33.560 of a bitcoin ETF. I wanted to warn people. So 0:05:33.640 --> 0:05:35.040 far it seems to be right. But I want to 0:05:35.120 --> 0:05:36.719 just highlight a couple of things I talked about in 0:05:36.760 --> 0:05:39.960 that video. First of all, if you listen to this 0:05:39.960 --> 0:05:41.840 show on a regular basis, you already know I'll talk 0:05:41.839 --> 0:05:43.719 about bitcoin all the time. I'm not one of the 0:05:43.760 --> 0:05:46.960 guys on YouTube or podcast or radio, well nobody on 0:05:47.040 --> 0:05:49.880 radio that just jumps on the band where I can 0:05:49.920 --> 0:05:52.760 talk about bitcoin. And I don't want to be like 0:05:52.880 --> 0:05:55.400 I told you so either, But let's do a little 0:05:55.400 --> 0:05:59.000 bit I told you so. So let's see here, let's 0:05:59.240 --> 0:06:04.159 recount some of this, just including YouTube below. In June 0:06:04.200 --> 0:06:07.520 of twenty twenty two, when bitcoin was nineteen thousand dollars, 0:06:07.560 --> 0:06:10.240 I said, new data reveals the real bitcoin value? Should 0:06:10.279 --> 0:06:12.280 you buy now? This June twenty two, it was a 0:06:12.360 --> 0:06:15.720 nineteen thousand July of twenty two, I said, do these 0:06:15.800 --> 0:06:18.320 charts show it's time to buy bitcoin? And it was 0:06:18.360 --> 0:06:22.480 at nineteen thousand. Then we can fast forward. We go 0:06:22.560 --> 0:06:25.560 to October of twenty twenty two, I said, will bitcoin 0:06:25.640 --> 0:06:27.360 go Because people still thought it was going to drop, 0:06:27.480 --> 0:06:30.000 I said, will it go to twelve thousand or go 0:06:30.120 --> 0:06:33.240 up to thirty thousand? First that was October twenty twenty two. 0:06:33.279 --> 0:06:36.560 It was at eighteen thousand. All these chances you had 0:06:36.600 --> 0:06:40.760 to buy. November of twenty twenty two, I made a 0:06:40.800 --> 0:06:43.240 video called the Great Reset of Cryptos Happening. Bitcoin was 0:06:43.240 --> 0:06:45.880 at fifteen thousand, nine hundred. You had a chance to buy. 0:06:46.720 --> 0:06:49.920 January of seventeen. January seventeenth of twenty twenty three, a 0:06:50.000 --> 0:06:53.440 year ago, I said, new data tells us it's time 0:06:53.480 --> 0:06:57.200 to buy. It was at twenty thousand. Another video January 0:06:57.200 --> 0:07:00.200 twenty third. January twenty twenty three, I said, break king 0:07:00.279 --> 0:07:03.159 data shows the FED pivot is here. Do this now? 0:07:03.360 --> 0:07:06.760 And the do this now was to buy bitcoin. March 0:07:06.800 --> 0:07:09.480 of twenty twenty three, I said bitcoin. The title was 0:07:09.560 --> 0:07:12.560 bitcoin is pumping by now or wait? Of course I 0:07:12.560 --> 0:07:16.800 said to buy. That was a twenty six thousand. May 0:07:16.840 --> 0:07:19.440 of twenty twenty three, I said, FED data shows they 0:07:19.480 --> 0:07:21.560 control bitcoin. What's next? And of course I was going 0:07:21.600 --> 0:07:23.280 to say they can't really control it. That was the 0:07:23.320 --> 0:07:26.080 twenty six thousand, So anyway I could go on. You 0:07:26.120 --> 0:07:28.080 get the point. We've made lots of these, but I 0:07:28.120 --> 0:07:31.640 made this video talking about the approval bitcoin. There was 0:07:31.640 --> 0:07:34.960 a warning there. What was the warning? The warning was 0:07:35.000 --> 0:07:39.000 that once this ETF got approved, we could potentially see 0:07:39.040 --> 0:07:41.880 a selloff happen in the price of bitcoin. And the 0:07:41.920 --> 0:07:43.720 reason why I said that is because a lot of 0:07:43.760 --> 0:07:48.680 people were expecting that as soon as this ETF got approved, 0:07:48.760 --> 0:07:51.680 there'd be a massive run up in the price. And 0:07:51.720 --> 0:07:54.160 I said that the reason why most people expect that 0:07:54.280 --> 0:07:56.000 is because they think that if all this money flows 0:07:56.000 --> 0:07:57.960 into these ETFs, everyone's going to rush out and go 0:07:58.000 --> 0:08:01.560 buy them, and it would then send the price to 0:08:01.560 --> 0:08:03.679 the moon. But I said, that's not really how it works. 0:08:03.720 --> 0:08:07.600 You see, ETFs have already bought the bitcoin, now, not 0:08:07.680 --> 0:08:11.360 in the ETF fund themselves, but in these buffer accounts. 0:08:11.360 --> 0:08:14.440 Because the ETF can't be buying and selling bitcoin every 0:08:14.480 --> 0:08:17.520 single day in the market. They can't move the market 0:08:17.560 --> 0:08:20.640 that fast. The market isn't big enough to handle that 0:08:20.680 --> 0:08:22.920 type of volume. And so most of these ETF companies 0:08:22.920 --> 0:08:24.640 have already bought in what's known as like a seed 0:08:24.640 --> 0:08:27.520 account or like a buffer account, and that account will 0:08:28.120 --> 0:08:31.760 actively trade and manage that in the market. The ETF 0:08:31.800 --> 0:08:34.600 will be buying and selling from that buffer account, that's 0:08:34.640 --> 0:08:37.080 what I'm calling it, And so it wouldn't really drive 0:08:37.120 --> 0:08:38.400 the price. And so what I thought is that a 0:08:38.400 --> 0:08:40.400 lot of people trying to front run the price of 0:08:40.480 --> 0:08:43.440 the ETF would buy it up and then as soon 0:08:43.440 --> 0:08:45.000 as we got approved, they'd sell it off to make that 0:08:45.080 --> 0:08:48.080 quick rip. We might see a draw down. And the 0:08:48.160 --> 0:08:51.120 warning that I gave was don't get tricked out, right, 0:08:51.120 --> 0:08:53.800 don't get faked out by the market. Don't go, oh 0:08:53.800 --> 0:08:56.920 my gosh, I should sell. That might be what they 0:08:56.960 --> 0:08:59.280 want is to take over your bitcoin because they're certainly 0:08:59.280 --> 0:09:00.960 going to need it. And if you're just tune in, 0:09:00.960 --> 0:09:03.400 you're listening to the Mark Moss Show, we're talking about 0:09:03.400 --> 0:09:05.320 the news of the Bitcoin ETF. We'll be back with 0:09:05.360 --> 0:09:06.600 a whole lot more in a minute. You don't want 0:09:06.600 --> 0:09:08.320 to miss it. Don't go away, I'll be back all right, 0:09:08.360 --> 0:09:10.000 Welcome back. If you just tune in, you're listening to 0:09:10.040 --> 0:09:13.160 the Mark Moss Show, we're talking about the big news, 0:09:14.360 --> 0:09:17.400 the coming out party, if you will. Bitcoin has finally 0:09:17.480 --> 0:09:21.400 made it to the mainstream. It's across the chasm, as 0:09:21.440 --> 0:09:23.560 I like to say, cross the chasm. What does crossing 0:09:23.600 --> 0:09:26.199 the chasm mean? Well, crossing the chasm is a term 0:09:26.720 --> 0:09:30.480 that we use to look at technology adoption. You might 0:09:30.480 --> 0:09:32.240 have seen this chart before It's sort of like a 0:09:32.280 --> 0:09:36.640 bell curve, and it shows how new technology such as 0:09:36.640 --> 0:09:39.680 the telephone and the color TV, the washing machine, the internet, 0:09:40.000 --> 0:09:43.640 and bitcoin, things like that. New technologies reach adoption, and 0:09:43.880 --> 0:09:46.400 basically they follow a predictable pattern, which you hear me 0:09:46.400 --> 0:09:49.000 talk about quite a bit, you know, technology cycles. But 0:09:49.080 --> 0:09:51.840 basically you have the beginning part, which is the innovators. 0:09:51.840 --> 0:09:54.160 This is the person who developed the technology, so the 0:09:54.200 --> 0:09:56.360 guys that wrote the code, that came up with the idea, etc. 0:09:56.640 --> 0:10:01.360 And typically that brings to three four small digit adoption, 0:10:01.600 --> 0:10:04.560 right because not that many of them. After that is 0:10:04.960 --> 0:10:07.800 the next section that comes into this new technology, and 0:10:07.840 --> 0:10:10.160 these are called the true believers. So these are the 0:10:10.160 --> 0:10:12.960 guys that catch it early. These are the tinkers, the hobbyists, 0:10:13.120 --> 0:10:15.600 the ones that really believe in it. That would be me. 0:10:15.720 --> 0:10:18.400 I would put myself into the true believer camp of bitcoin, 0:10:18.679 --> 0:10:22.120 and that typically gets us to about fifteen percent adoption, 0:10:22.160 --> 0:10:24.720 maybe as high as up to twenty percent adoption. Then 0:10:24.840 --> 0:10:27.120 what happens You see a big jump up in that 0:10:27.160 --> 0:10:29.760 Bell curve, but before we get what's known as the 0:10:29.880 --> 0:10:32.880 early majority. If you don't own bitcoin yet, you could 0:10:32.880 --> 0:10:35.520 be part of the early majority. Before we get the 0:10:35.559 --> 0:10:38.839 early majority. There's something known as the chasm, and the 0:10:38.960 --> 0:10:42.680 chasm is a gap, and the gap has to be crossed. 0:10:42.679 --> 0:10:45.520 The chasm has to be caught crossed before the early 0:10:45.559 --> 0:10:48.200 majority comes in, and then after the majority is finally 0:10:48.200 --> 0:10:51.440 the late majority comes in. All right, So the chasm 0:10:51.520 --> 0:10:53.800 is something that has to be crossed, and it's a 0:10:53.960 --> 0:10:57.760 mindset shift, right, maybe you there's a lot of people 0:10:57.760 --> 0:11:00.520 listening right now that think in it. That bitcoin is stupid, 0:11:01.080 --> 0:11:04.600 it's a tulip, it's a magical internet money. I can't 0:11:04.640 --> 0:11:07.640 trust something that I can't hold in my hand. Film 0:11:07.679 --> 0:11:11.240 the blank. I've heard it all, and it's a new technology. 0:11:11.280 --> 0:11:13.679 So of course not everybody believes in it. It's brand new, 0:11:13.920 --> 0:11:16.080 well not anymore, it's fifteen years old. But you know, 0:11:16.160 --> 0:11:18.439 at the time it's new, I don't know what it is. 0:11:18.760 --> 0:11:21.400 I'm a skeptic, you know, all these things, whatever your 0:11:21.480 --> 0:11:24.800 doubt may be about bitcoin. But the chasm is where 0:11:24.840 --> 0:11:31.760 something changes, so the mindset of everybody will shift. Something 0:11:31.880 --> 0:11:34.240 changes where it gets very easy to use or becomes 0:11:34.320 --> 0:11:38.240 legitimate or something like that. So in the early days 0:11:38.240 --> 0:11:42.360 of the VCR, for example, there weren't really any things 0:11:42.400 --> 0:11:44.000 to do with the VCR. There weren't a lot of 0:11:44.040 --> 0:11:46.880 movies on the VCR, and the first use case of 0:11:46.920 --> 0:11:51.720 the VCR, like most tech like the Internet, was for porn, 0:11:51.800 --> 0:11:55.960 for pornography, and so obviously, yeah, that's especially back when 0:11:55.960 --> 0:11:58.840 the VCR came back, but even today, porn isn't really 0:11:58.920 --> 0:12:02.360 accepted in mainstrea stream. Certainly it wasn't back then, and 0:12:02.400 --> 0:12:04.680 the only use case for the VCR was for porn, 0:12:04.720 --> 0:12:06.920 and so people overlook the VCR. Why would we use it. 0:12:07.000 --> 0:12:08.640 We don't need that, There's nothing to do with it 0:12:08.679 --> 0:12:12.200 other than watch porn, et cetera. What brought the VCR 0:12:12.240 --> 0:12:16.240 into mainstream was Disney decided to release a movie on 0:12:16.320 --> 0:12:20.160 the VCR. When Disney released a movie, then other people 0:12:20.160 --> 0:12:22.280 started releasing movies. And once there was Disney and other 0:12:22.320 --> 0:12:25.440 good movies to get, then the mindset shifted and everybody 0:12:25.480 --> 0:12:28.240 went and started buying VCRs. Right, And we can go 0:12:28.240 --> 0:12:31.360 on and on and about this, but this chasm, I 0:12:31.400 --> 0:12:33.360 believe has been crossed. And I believe we've been getting 0:12:33.440 --> 0:12:36.720 sort of getting across the chasm, if you will, but 0:12:36.760 --> 0:12:38.920 I think we finally crossed the chasm. Now we've crossed 0:12:38.920 --> 0:12:41.400 the rubicon, if you will, and that is because this 0:12:41.559 --> 0:12:47.760 ETF has finally legitimized it. If you're a skeptic at 0:12:47.760 --> 0:12:52.240 this point, still thinking it's stupid, it's a tulip, it's 0:12:52.240 --> 0:12:54.840 a fad, it's going to go away, et cetera, et cetera, 0:12:56.400 --> 0:12:58.160 I just don't know what else to say to you anymore. 0:12:58.360 --> 0:13:02.839 We have the larger asset manager in the world, Blackrock, 0:13:03.720 --> 0:13:06.520 which I'm no fan of, by the way. They're run 0:13:06.559 --> 0:13:10.240 by Larry Fink, so arguably one of the most powerful 0:13:10.240 --> 0:13:13.120 men in the entire world. He was on CNBC and 0:13:13.120 --> 0:13:14.839 I've talked about this before now it's been a month 0:13:14.920 --> 0:13:16.880 or two ago, and he said that people are moving 0:13:16.880 --> 0:13:20.760 to bitcoin for safety. So arguably one of the most 0:13:20.760 --> 0:13:24.160 powerful men in the entire world runs the largest asset 0:13:24.160 --> 0:13:27.400 manager in the world, is calling bitcoin a flight to safety. 0:13:27.800 --> 0:13:31.320 They've launched a bitcoin ETF, and not just one, but 0:13:31.559 --> 0:13:35.360 eleven ETFs were approved, not just one, but eleven the 0:13:36.200 --> 0:13:39.320 largest asset managers in the world, not just Blackrock. We're 0:13:39.320 --> 0:13:42.040 talking about like Fidelity and a bunch of other big ones. 0:13:42.080 --> 0:13:43.440 As a matter of fact, we'll talk about those in 0:13:43.480 --> 0:13:48.920 a minute. And now it's legitimate. Now every financial advisor 0:13:49.360 --> 0:13:54.679 has the ability to now recommend bitcoin into a financial portfolio. 0:13:55.400 --> 0:13:57.959 I talked about this before. I think seventy two percent 0:13:58.040 --> 0:14:00.960 of financial advisors in a poll, seventy two percent of 0:14:01.000 --> 0:14:05.280 them said that they would allocate money towards bitcoin if 0:14:05.360 --> 0:14:09.680 an ETF got approved. So there you have it. Seventy 0:14:09.760 --> 0:14:13.680 two percent. That is, that's at least the early majority 0:14:13.679 --> 0:14:15.319 of that might even be the late majority. Two. The 0:14:16.000 --> 0:14:19.840 chasm has been crossed. Bitcoin is easy. It's the best 0:14:19.840 --> 0:14:23.320 performing asset. It's been around for fifteen years. It's certainly 0:14:23.400 --> 0:14:25.560 not a tulip. It keeps coming back over and over 0:14:25.600 --> 0:14:28.560 and over. It's now recognized by the largest asset manager 0:14:28.600 --> 0:14:30.960 in the world, it's approved by the government, and now 0:14:31.080 --> 0:14:34.680 everybody can buy it. It's a big deal. I have 0:14:34.800 --> 0:14:36.360 this prop on my desk here. I just want to 0:14:36.360 --> 0:14:38.080 show this to you. This is a block clock. It 0:14:38.200 --> 0:14:40.960 tracks the price of bitcoin in real time. It lost 0:14:41.000 --> 0:14:44.200 power in March of twenty twenty two when bitcoin price 0:14:44.280 --> 0:14:46.600 was at forty seven thousand, and I'm waiting to plug 0:14:46.600 --> 0:14:48.600 it back in until it gets over that price, which 0:14:49.400 --> 0:14:52.560 it should any minute or any day. Now. It's popped 0:14:52.600 --> 0:14:55.880 over that today a few times. It hasn't closed over 0:14:55.920 --> 0:14:57.960 that price yet, so we'll see where that's at. And 0:14:58.080 --> 0:15:00.720 here we are on the first day, at the time 0:15:00.760 --> 0:15:04.160 of this recording, the first day of trading in this 0:15:05.320 --> 0:15:06.640 big win TF and I want to tell you what's 0:15:06.640 --> 0:15:08.480 already happening, but before we do, I want to go 0:15:08.600 --> 0:15:11.720 back just a little bit of time. I want to 0:15:11.800 --> 0:15:16.600 talk about what happened before the launch, because more signs 0:15:16.600 --> 0:15:20.000 of government and competence. You know. For as as scared 0:15:20.040 --> 0:15:22.280 as I am on many things the government's doing about, 0:15:22.320 --> 0:15:24.960 you know, our potential future, one thing that gives me 0:15:25.000 --> 0:15:27.320 a little bit of hope is that, man, the amount 0:15:27.320 --> 0:15:32.800 of government incompetence is so high, and it what happened 0:15:33.240 --> 0:15:37.360 is it'll probably give you a little chuckle. Maybe it 0:15:37.400 --> 0:15:39.440 was government of competence, maybe it was intentional. We're going 0:15:39.440 --> 0:15:41.760 to talk about that, but it reminds me of a 0:15:41.800 --> 0:15:45.640 story that happened to me about five years ago, right 0:15:45.680 --> 0:15:47.160 around this time. As a matter of fact, it was 0:15:47.200 --> 0:15:50.880 in January of twenty eighteen, and I was with my 0:15:51.000 --> 0:15:53.280 family on the north shore of O Wahoo. I was 0:15:53.280 --> 0:15:55.320 in Hawaii. We rented a house right there on the 0:15:55.320 --> 0:15:57.400 beach for a month. Because I love to surf. I 0:15:57.400 --> 0:16:00.120 love the big waves. And so we're over there and 0:16:00.680 --> 0:16:02.520 we wake up, but it's about eight in the morning, 0:16:02.920 --> 0:16:06.280 and our phones are all going off like this, these alerts, 0:16:06.960 --> 0:16:08.880 and go to grab my phone and take a look 0:16:08.920 --> 0:16:13.520 at it, and on my phone is a message, and 0:16:13.720 --> 0:16:15.600 I think I have it right here. I have the 0:16:15.640 --> 0:16:19.400 actual text message that we got here. I pull it up. 0:16:19.960 --> 0:16:24.440 I'll just read it to you. Yeah, so here we go. Yeah, 0:16:24.480 --> 0:16:27.680 so here we go. On my phone emergency alert and 0:16:27.720 --> 0:16:34.040 it says ballistic missile threat inbound to Hawaii. Seek immediate shelter. 0:16:34.680 --> 0:16:38.840 This is not a drill. That was it. That's what 0:16:38.880 --> 0:16:41.480 I said. My phone's going off, my wife's phone's going off, 0:16:41.520 --> 0:16:44.120 my daughter's phone's going off. We grab the phone and 0:16:44.160 --> 0:16:46.360 we wake up like still got you know, sleep in 0:16:46.360 --> 0:16:48.280 our eyes, et cetera. And all of a sudden, it 0:16:48.360 --> 0:16:52.400 just says ballistic missile threat inbound to Hawaii, Seek immediate shelter. 0:16:52.640 --> 0:16:57.200 This is not a drill. Now we're in an airbnb, like, 0:16:57.280 --> 0:16:58.760 I mean, we go to Hawaii quite a bit, but 0:16:58.840 --> 0:17:00.320 I don't know much about the island, and I don't 0:17:00.320 --> 0:17:03.880 know if there's bomb shelters or nuclear bunkers. I certainly 0:17:03.920 --> 0:17:06.080 don't have any iodine if it's a nuclear attack, like 0:17:06.080 --> 0:17:09.320 I member's over there on vacation, right, and this is 0:17:09.400 --> 0:17:12.680 what we see. Now. I'm telling you this story because 0:17:12.760 --> 0:17:15.399 this is sort of what happened with the SEC. So 0:17:15.440 --> 0:17:17.920 I'm gonna explain to you exactly what happened with the SEC. 0:17:18.240 --> 0:17:19.680 But I gotta take a very quick break. If you're 0:17:19.720 --> 0:17:21.600 just tuning in, you're listening to the Mark Moss Show. 0:17:21.600 --> 0:17:25.560 We're talking about I think it's potentially I think the 0:17:25.600 --> 0:17:27.720 future will show this might be the biggest move we've 0:17:27.720 --> 0:17:31.159 seen in the financial markets in decades. All Right, this 0:17:31.200 --> 0:17:33.000 is a big deal and you need to know about it. 0:17:33.080 --> 0:17:34.679 We'll talk about it more when I take when I 0:17:34.680 --> 0:17:37.280 come back from a very short break. Again, you're listening 0:17:37.320 --> 0:17:40.040 to the Mark Moss Show. Don't go anywhere, don't want 0:17:40.080 --> 0:17:42.240 to miss it, So I'll be right back. All right, 0:17:42.280 --> 0:17:43.720 Welcome back. If you just tune in, you're listening to 0:17:43.800 --> 0:17:47.040 the Mark Moss Show, we're talking about the Bitcoin ETF 0:17:47.680 --> 0:17:50.400 massive news. Do not sleep on this. Let me break 0:17:50.440 --> 0:17:52.280 it down for a little bit. Right before the breakdow 0:17:52.280 --> 0:17:53.600 I was telling you about this story of how it 0:17:53.680 --> 0:17:56.200 was in Hawaii in January twenty eighteen, and I woke 0:17:56.280 --> 0:18:00.520 up to getting this inbound ballistic missile threat. It's not 0:18:00.600 --> 0:18:05.199 a drill now. We sat there for As a matter 0:18:05.240 --> 0:18:06.880 of fact, this is what got me to join Twitter 0:18:07.359 --> 0:18:11.120 because we could not find any information about this. We 0:18:11.240 --> 0:18:13.680 scoured the internet, scoured the news, turned on the TV. 0:18:13.840 --> 0:18:16.520 There was nothing about it. My business partner at the time, 0:18:17.680 --> 0:18:20.120 he was on Twitter and he was able to pull 0:18:20.200 --> 0:18:22.880 up a bunch of news people talking about it. And 0:18:23.359 --> 0:18:25.440 Twitter's amazing forgetting instant news. By the way, if you're 0:18:25.440 --> 0:18:28.480 not following me on Twitter, check me out at one 0:18:28.520 --> 0:18:31.159 Mark Moss. It's the number one at one Mark Moss. 0:18:32.080 --> 0:18:33.600 Hit me up. Let me know you're listening to the show. 0:18:33.600 --> 0:18:37.240 I'd love to hear from you. But anyway, it turns 0:18:37.280 --> 0:18:39.200 out that about I don't know. It was about thirty 0:18:39.200 --> 0:18:42.320 forty five minutes later they issued a release that, oh, 0:18:42.359 --> 0:18:46.800 there's no inbound ballistic missile. Somebody just accidentally did that. 0:18:48.160 --> 0:18:51.840 So someone accidentally did that, just like accidentally hit the 0:18:51.840 --> 0:18:56.920 wrong button. But wouldn't somebody have to type in the message. 0:18:56.960 --> 0:18:59.479 It wasn't just somebody hitting the wrong button. They had 0:18:59.480 --> 0:19:03.359 to type in the message. Right. Whatever the story was, 0:19:03.440 --> 0:19:05.720 we'll never know the government never tells the truth. But 0:19:06.359 --> 0:19:09.639 somehow accidentally that message got sent out. It wasn't wasn't. 0:19:10.040 --> 0:19:12.600 Obviously didn't happen. No bomb happened. We don't know the truth. 0:19:12.680 --> 0:19:14.359 But now let's go back to the SEC. So the 0:19:14.440 --> 0:19:18.880 day before we were supposed to get the approval, the 0:19:18.920 --> 0:19:22.960 SEC Twitter account put out a message saying that it 0:19:23.000 --> 0:19:27.680 from the SEC account that the ETFs were approved. Everybody's 0:19:27.680 --> 0:19:30.760 going crazy. There's all types of tweets going on. All 0:19:30.760 --> 0:19:33.480 these Twitter spaces started popping up. I got I jumped 0:19:33.480 --> 0:19:35.440 onto some Twitter spaces. We're talking about, oh my gosh, 0:19:35.480 --> 0:19:37.679 you got approved. We got approved, got approved. And just 0:19:37.760 --> 0:19:39.240 a little while later, I don't know, it was about 0:19:39.240 --> 0:19:41.600 thirty minutes later, Gary Gensler, the head of the SEC, 0:19:41.720 --> 0:19:44.600 goes on his Twitter and says the SEC account was 0:19:45.040 --> 0:19:50.280 compromised or hacked. It's not really approved. Hmm. Sort of 0:19:50.320 --> 0:19:52.800 like there's not really a ballistic missile inbound Hawaii to 0:19:52.880 --> 0:19:57.520 kill you. Huh. Okay, so it was hacked. Well, you 0:19:57.640 --> 0:20:00.199 might know that I've recently just got my Twitter account back. 0:20:00.240 --> 0:20:04.399 I was. My Twitter account got hacked in August August 0:20:04.440 --> 0:20:07.240 twelfth of last year, and I was locked out of 0:20:07.280 --> 0:20:10.399 my Twitter account for five months. I got back in 0:20:10.560 --> 0:20:16.159 January first, a few weeks ago, and it took me 0:20:16.240 --> 0:20:19.040 five months. I'm a ky seed blue check pain. They 0:20:19.119 --> 0:20:21.239 charged my account every month. I filled out over like 0:20:21.280 --> 0:20:24.480 thirty probably plus support tickets, and took me five months 0:20:24.480 --> 0:20:26.840 get my account back. Supposedly the SEC's account got hacked 0:20:26.840 --> 0:20:30.119 and they got it back within minutes. Probably not, but 0:20:30.240 --> 0:20:34.640 also the message looked very official and Genzo's responses very quick. 0:20:34.640 --> 0:20:39.359 So then obviously speculation starts going on. And my best 0:20:39.440 --> 0:20:43.960 guess was that it was probably meant to go out 0:20:44.000 --> 0:20:46.280