So many catalysts for crypto. but Black Rock Just started the process for filing an Ethereum spot ETF Woo, it's happening. Let's get into the video. Holy smokes, there's talk about Bitcoin tripling I Think next.

Stop: 42,000 Tom Emmer just threw in a wild Amendment into a house resolution for Financial Services spending. Let's start there. this is wild. Look at this.

This is: HR 4664 Tom Emmer, who's been a big Crypto supporter Page 30s What you want to go to? Drop on over to Page 30. What are you going to get here? Look at this: Section 131 This is in a proposed Uh legislation document here. Uh, it is again an Appropriations document, which is just a way the government sends money for building out Financial Services uh, funding things like Finsen, the Financial Crimes Enforcement Network and otherwise. But right here.

Section 131 on Page 30 Tom Emmer slipped in this amendment language right here. None of the funds made avail ailable by this act may be used by the Department of Treasury to establish a Cbdc, a central bank digital currency, or discontinue the circulation of paper money as legal tender in the United States Now that's a big deal because we know the FED has been working on a stable coin. We Central Bank digital currency, right? We know they're already working on it and studying implementing a Cbdc. A lot of people think that's going to take away any semblance of privacy that we have left with the good old Fiat which we could use for nice purposes like tipping.

But folks, beyond that, Cbdc is something that a lot of people think could be that tool to control. Our Lives control our spending, tax us more, surveil us more, and ultimately at the flick of a switch, decide to not only censor our speech, but censor our spending ability. It's why a lot of folks are fearful about a central bank digital currency, and this amendment would actually prevent the Department of Treasury from establishing a Cbdc. Now I Find that really interesting because it doesn't prevent the Fed from continuing Research into a Cbdc given that Department of Treasury is different from the Cbdc.

and the irony here is that the Department of Treasury can basically just issue bonds. the FED prints its own money and it could use some of that. So there are ways around this. But let's be clear.

the implication here is that there is some support in Congress growing for preventing the growth of a Cbdc, but in addition, preventing the circulation of paper currency. Now, there is also another amendment that he threw in here. Uh, Congressman Emer And it was the idea that the SEC should not be responsible for regulating crypto and instead nobody should be responsible for regulating crypto until Congress decides who should be responsible. Now that's kind of like this.

I Feel like because one of the problems we've had a lack of regulation in crypto is because nobody's taken responsibility for it. Quite frankly, it's Congress's job to pick somebody. So like, just pick somebody already. But now the amendment is turning into, well, anybody, but the SEC will let you know who when.

Now again, that's not passed yet, but that's somewhat what's going on in the legal world now. What about BTC Well, obviously a lot of enthusiasm about the Bitcoin ETF There are 12 of them. The window open today for getting BTC uh BTC spot approval on one of these ETFs would be a big deal. It would finally mean institutions don't have to suffer the lockups of like a Grayscale Bitcoin Trust.

It means you could potentially get the reallocation tax benefits within ETFs that start allocating to various different cryptocoins which is a big deal. Big hack inside the ETF ecosystem. All of these here though are are spot ETFs. So when you really get those benefits is when you get like a bit coin and Ethereum ETF and you can allocate within them.

That would be amazing, especially if you could do so in a tax beneficial way which you can with. ETFs That could be a long-term game Cher for uh ETFs but it all starts with one spot. ETF and that's the Bitcoin everyone's going for here. You've got the uh, you've got 12 of them here.

You can see black Rock is not on refiling yet. grayscale Arc Bitwise Vanac Invesco They're all on refiling for the spot. ETF Black Rock is usually deemed as the one that if somebody's going to get an ETF through, it's them. They've done over a hundred different ETFs and they've gotten approval on all but one and that one that got denied was denied on a technical basis and they ended up getting it approved.

So they basically have a 100% pass rate on getting ETFs approved which is absolutely remarkable and it's creating a lot of excitement. And dare I say the sord speculation that maybe Bitcoin could actually trip in value? Take a look at this here: I I Uh, saved this as a PDF here just because I want to show you the bottom line, but just to shout out the user, it's the BTC archive And what they're arguing here is that if you could move just 1% of the entire 200 trillion doll ecosystem of the financial system in the world, if you could move just 1% to BTC that would give you a $2 trillion allocation compared to the 670 bill in where we sit. Now now, their quick math assumes an additional 1% but either way with an additional 1% they're arguing much like Michael sailor who says hey, look, suppli is going down essentially right while at the same time like in other words, the rate of growth of supply for BTC is coming to an end. Eventually we'll have mined our last BTC and that's it.

Now there's a limit to how much is available and If at the same time demand goes up. then price has to go up a lot of enthus iasm right now circulating and that's why I think we're seeing I Mean it's obvious we're seeing this dramatic run in BTC here. Uh, Tesla down 6% while Coinbase up 6% Uh, this heavily driven by interest rates on Tesla and BTC for Coinbase which I have to say Kathy Wood played a little bit of 4D chess over here. Not a bad move.

look at what she did. She's been quietly selling Tesla and acquiring Coinbase and of course her custodian for her ETF is coinbase, so it's almost kind of like we get our ETF we bring more business to Coinbase then our coinbase stock goes up. Kind of a brilliant 40 chess move there. not a bad move Kathy would.

but I have to say uh, there is so much enthusiasm right now for BTC pushing up. Right now we're struggling in no man's land to break that 38,000 level that we just hit yes, just actually within the last 20 24 hours here. Uh, now we're struggling just above that 36 uh level, which is one of our FIB retracement levels I Personally think we'll probably push up to about 42 before we really get rejected in Earnest again. I Do think there is some near-term downside risk though after ETF approval, mostly because I think the available Capital to actually inflow into BTC will exhaust itself relatively quickly within about the first week of these ET approvals, and we'll probably see a little bit of a momentum bleed and maybe a retracement.

So personally, I think there could be an opportunity and it depends how markets move. But if we get a bad CPI or jobs report between now and the end of the year, I wouldn't be surprised to see a pullback in Risk assets. Let's say the ETFs are approved. We get a pullback to maybe 30k.

Could end up being an entry point as as we drop back to one of these Fibs somewhere, either the 28 FIB or the support line around 31 somewhere around there wouldn't surprise me, and then we're looking for that longer term volatile Nike Swoosh of Just Risk assets I Believe that's likely, especially as expectations of inflation. Cool. Remember, even though originally in the cycle, Bitcoin was believed to be an inflation hedge, I Don't see it as that I see it as more of a diversifying risk asset and that's what we're getting in BTC in my opinion. So what does that mean? rates down BTC up if it's then with a Bitcoin ETF Great.

That could drive some inflows. Right now, we're getting short liquidations, pumping the price temporarily. That's I Think why we went to 38k few hundred million dollars of short Liquidations in the last 24 hours. But what is it? Re? When does it really get interesting? In my opinion, it really gets interesting when you could get Diversified ETFs So an ETF that has maybe some uh, eth, some uh Ada Uh, you know, Whatever.

all the different alts or various different alts, you can get an ETF here that then can, in a tax efficient manner, reallocate within it. Oh, that would be delicious. That's the way to go in my opinion for long-term investing. Uh, and we'll find out how it ends up uh, coming through in the next.

Uh, well, hopefully 40 days here. We are in a 9-day window now, but Bloomberg Intelligence is providing an over 90% chance based on their opinion of course, but also their analysis. Uh, that will end up getting a Bitcoin approval, a Bitcoin ETF approval within or before. uh, the second week in January At the same time now Hong Kong Looks like they potentially want to try playing catchup Hong Kong mulling allowing a spot crypto ETF in pursuit of an Asia Hub Really interesting given the bans by China of course Hong Kong An autonomous region semi-autonomous uh W within China so they have sort of their own Playbook Uh, but uh, interesting to see that contrast between China and Hong Kong Uh, although not surprising since you're substantially more capitalistic in Hong Kong So that gives us some pretty substantial updates here.

and, uh, exciting things to look forward to. One more thing I Want to say is I Listened to The Economist's podcast interview with Cy I Have to say I I mean I've had my criticisms of Cy but I Have to say it was a good interview. He did a great job. He was very professional uh and one of the things I thought that was very interesting about what he said was with Crypto.

This last year has really been about recovery. We haven't even really seen much product innovation or coin. Innovation We're still in that developing cycle for crypto and this is just the normal sort of up and down movement of crypto as we wait for more development and more project expansion. So uh, he sees this as nothing major happening this year.

It's a recovery year. It's okay. this is normal in the cycle. it's normal in the process.

So honestly had to say interview with CZ Pretty impressive. So good job Economist Anyway, if you want to learn more from me, check out the new verse Pro Crash courses. We've got a lot of them that are being released within the next 6 weeks. Can't wait to bring them out to you so check those out.

Go to Meetkevin.com to learn more about those. Price goes up Friday evening. Thanks so much and we'll see you in the next one goodbye. Can not advertise these things that you told us here I Feel like nobody else knows about this? We'll We'll try a little advertising and see how it goes.

Congratulations man, you have done so much People love you people look up to you Kevin P there financial analyst and YouTuber meet Kevin Always great to get your take now I I Have to read you a legal disclaimer: Even though I'm a licensed financial advisor, licensed real estate broker and becoming a stock broker, this video is neither personalized Financial Advice nor real estate advice for you. It is not tax, legal, or otherwise personalized advice tailored to you. This video provides generalized perspective, information, and commentary. Any third party content I Show should not be deemed endorsed by me.

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