Hello, and welcome to another episode of The Mark Moss Show, where we're always talking about, of course, the decentralized revolution, talking about the way the world is breaking apart. We look at it through the lenses of politics, finance, and technology, and of course that technology is bitcoin. It's a decentralized technologist changing the world. And wow, have we had big
news this week. Now. Shouldn't be a big surprise because I've been talking about it for a long time, but all of this talk, all of this conjecture, all this speculation finally came to pass this last week with the SEC finally approving a bitcoin ETF, and not just approving a bitcoin ETF, but approving eleven bitcoin ETFs, and it
went off with massive amount of fireworks. You do not want to miss out on this, So we're going to break down what exactly happened, what happened before God approved that basically shook the entire market and caused a massive problem.
I'm going to dig into that and we're going to talk about exactly what happened the eleven that got approved, what we're already seeing already, the good actors, the bad actors, the ones you need to stay away from the ones you should be using instead and what you could be expecting in the days and weeks ahead. We're gonna cover all that and more. You do not want to miss this, so don't walk away from wherever you're listening to this. All right, we're gonna dig into this, but let's just
talk about this for a minute. First of all, like I said, the ETF got approved. Now, what does the ETF even mean? For those of you that don't know, let me just break it down for you real quick. It's an exchange traded fund. So it's basically a fund that pools assets together and allows you to buy them to the very easily. Now, ETFs have mainly been around for things that are hard to buy. Specifically, they work really well for commodities. So think like uranium. You can't
really buy uranium, you can't really store it. Oil you can't really store oil, and so you can buy them through an ETF a fund. But they are also you can make a basic an ETF for anything. So I could just come up with a theme like the decentralized theme. For example, I could put a whole bunch of companies stocks into this basket that fit into this theme. Of decentralization, and it could be a decentralized ETF for example, that's not what we're talking about here, we're talking about a
bitcoin ETF. Now. They've been trying to get bitcoin ETFs through for years and years and years, and the SEC has continually denied them over and over and over again for unknown reasons. In twenty seventeen, we saw commodity futures trading open up for bitcoin, so we could trade bitcoin futures, which is, you know, protected another form of a regulated and protected trade in the United States. So futures have been okay, but not ETFs. Why is that, Well, we
don't really know, but we have some speculation. Part of it is because the SEC, the government, Gary Gins or whatever you want to call it, doesn't want a bitcoin ETF to go through for any number of reasons. Potentially they don't want the number to go up. You see, when you do a futures you're basically betting on the price. You're not buying bitcoin, you're just betting that the price will be higher or lower, and you're settling in cash.
These ETFs are spot etf. So what that means is if you put a dollar into the bitcoin ETF, that ETF now has to go buy a dollar worth of bitcoin on the market. And if you know anything about economics, economics one on one, all prices move on supply and demand.
So if you have more demand, more people trying to buy bitcoin through the ETFs and they have to go buy it, then it's going to then push the price up, assuming that the demand stays the same or even goes down, which we'll talk about because the supply, the fly goes down, and we're gonna talk about that. Because the supply is going down, it's known as the having event, all right, So that's sort of the high level this ETF potentially
they didn't want to go through. Now it started to escalate because you know, more and more company started putting these ETFs proposals through, and the SEC has been denying these things for years, no big deal, but people have been continue to push back, push back, push back. Gray Scale took them to court and basically the SEC lost because they said that, hey, you guys really have no reason to deny these things. Now, things really escalated when
Blackrock put their ETF proposal through. When Blackrock put their ETF proposal through, I basically knew it was a done deal. Right. Blackrock operates as sort of a semi quasi arm of the government. We've seen through twenty twenty the banking crisis in twenty twenty three, where they work on behalf of the government to do things right. So that's why I call them like a semi quasi arm of the government.
So when Blackrock, which dominates the ETF space by the way, put an ETF proposal through dominating the ETF space working with the government, it was like, come on, of course they're going to get this through. Like they would not have done this if they didn't know that they could have already got it through. And so we knew it was already a done deal. I knew it was a done deal. We've been talking about this for a long time.
The only question came down to when. It wasn't a matter of if, it was a matter of when and a question of what would happen after the fact. And so here we have it. They got approved and we've been seeing fireworks now. I made a video back back the first week of December, I think December fourth, and the title of that video was warning about the approval of a bitcoin ETF. I wanted to warn people. So far it seems to be right. But I want to just highlight a couple of things I talked about in
that video. First of all, if you listen to this show on a regular basis, you already know I'll talk about bitcoin all the time. I'm not one of the guys on YouTube or podcast or radio, well nobody on radio that just jumps on the band where I can talk about bitcoin. And I don't want to be like I told you so either, But let's do a little bit I told you so. So let's see here, let's
recount some of this, just including YouTube below. In June of twenty twenty two, when bitcoin was nineteen thousand dollars, I said, new data reveals the real bitcoin value? Should you buy now? This June twenty two, it was a nineteen thousand July of twenty two, I said, do these charts show it's time to buy bitcoin? And it was
at nineteen thousand. Then we can fast forward. We go to October of twenty twenty two, I said, will bitcoin go Because people still thought it was going to drop, I said, will it go to twelve thousand or go up to thirty thousand? First that was October twenty twenty two. It was at eighteen thousand. All these chances you had to buy. November of twenty twenty two, I made a video called the Great Reset of Cryptos Happening. Bitcoin was at fifteen thousand, nine hundred. You had a chance to buy.
January of seventeen. January seventeenth of twenty twenty three, a year ago, I said, new data tells us it's time to buy. It was at twenty thousand. Another video January twenty third. January twenty twenty three, I said, break king data shows the FED pivot is here. Do this now? And the do this now was to buy bitcoin. March of twenty twenty three, I said bitcoin. The title was bitcoin is pumping by now or wait? Of course I
said to buy. That was a twenty six thousand. May of twenty twenty three, I said, FED data shows they control bitcoin. What's next? And of course I was going to say they can't really control it. That was the twenty six thousand, So anyway I could go on. You get the point. We've made lots of these, but I made this video talking about the approval bitcoin. There was a warning there. What was the warning? The warning was that once this ETF got approved, we could potentially see
a selloff happen in the price of bitcoin. And the reason why I said that is because a lot of people were expecting that as soon as this ETF got approved, there'd be a massive run up in the price. And I said that the reason why most people expect that is because they think that if all this money flows into these ETFs, everyone's going to rush out and go buy them, and it would then send the price to the moon. But I said, that's not really how it works.
You see, ETFs have already bought the bitcoin, now, not in the ETF fund themselves, but in these buffer accounts. Because the ETF can't be buying and selling bitcoin every single day in the market. They can't move the market that fast. The market isn't big enough to handle that type of volume. And so most of these ETF companies have already bought in what's known as like a seed account or like a buffer account, and that account will
actively trade and manage that in the market. The ETF will be buying and selling from that buffer account, that's what I'm calling it, And so it wouldn't really drive the price. And so what I thought is that a lot of people trying to front run the price of the ETF would buy it up and then as soon as we got approved, they'd sell it off to make that quick rip. We might see a draw down. And the warning that I gave was don't get tricked out, right, don't get faked out by the market. Don't go, oh
my gosh, I should sell. That might be what they want is to take over your bitcoin because they're certainly going to need it. And if you're just tune in, you're listening to the Mark Moss Show, we're talking about the news of the Bitcoin ETF. We'll be back with a whole lot more in a minute. You don't want to miss it. Don't go away, I'll be back all right, Welcome back. If you just tune in, you're listening to the Mark Moss Show, we're talking about the big news,
the coming out party, if you will. Bitcoin has finally made it to the mainstream. It's across the chasm, as I like to say, cross the chasm. What does crossing the chasm mean? Well, crossing the chasm is a term that we use to look at technology adoption. You might have seen this chart before It's sort of like a bell curve, and it shows how new technology such as the telephone and the color TV, the washing machine, the internet,
and bitcoin, things like that. New technologies reach adoption, and basically they follow a predictable pattern, which you hear me talk about quite a bit, you know, technology cycles. But basically you have the beginning part, which is the innovators. This is the person who developed the technology, so the guys that wrote the code, that came up with the idea, etc. And typically that brings to three four small digit adoption,
right because not that many of them. After that is the next section that comes into this new technology, and these are called the true believers. So these are the guys that catch it early. These are the tinkers, the hobbyists, the ones that really believe in it. That would be me. I would put myself into the true believer camp of bitcoin, and that typically gets us to about fifteen percent adoption,
maybe as high as up to twenty percent adoption. Then what happens You see a big jump up in that Bell curve, but before we get what's known as the early majority. If you don't own bitcoin yet, you could be part of the early majority. Before we get the early majority. There's something known as the chasm, and the chasm is a gap, and the gap has to be crossed. The chasm has to be caught crossed before the early majority comes in, and then after the majority is finally
the late majority comes in. All right, So the chasm is something that has to be crossed, and it's a mindset shift, right, maybe you there's a lot of people listening right now that think in it. That bitcoin is stupid, it's a tulip, it's a magical internet money. I can't trust something that I can't hold in my hand. Film the blank. I've heard it all, and it's a new technology. So of course not everybody believes in it. It's brand new,
well not anymore, it's fifteen years old. But you know, at the time it's new, I don't know what it is. I'm a skeptic, you know, all these things, whatever your doubt may be about bitcoin. But the chasm is where something changes, so the mindset of everybody will shift. Something changes where it gets very easy to use or becomes legitimate or something like that. So in the early days of the VCR, for example, there weren't really any things
to do with the VCR. There weren't a lot of movies on the VCR, and the first use case of the VCR, like most tech like the Internet, was for porn, for pornography, and so obviously, yeah, that's especially back when the VCR came back, but even today, porn isn't really accepted in mainstrea stream. Certainly it wasn't back then, and the only use case for the VCR was for porn, and so people overlook the VCR. Why would we use it. We don't need that, There's nothing to do with it
other than watch porn, et cetera. What brought the VCR into mainstream was Disney decided to release a movie on the VCR. When Disney released a movie, then other people started releasing movies. And once there was Disney and other good movies to get, then the mindset shifted and everybody went and started buying VCRs. Right, And we can go on and on and about this, but this chasm, I believe has been crossed. And I believe we've been getting sort of getting across the chasm, if you will, but
I think we finally crossed the chasm. Now we've crossed the rubicon, if you will, and that is because this ETF has finally legitimized it. If you're a skeptic at this point, still thinking it's stupid, it's a tulip, it's a fad, it's going to go away, et cetera, et cetera, I just don't know what else to say to you anymore. We have the larger asset manager in the world, Blackrock, which I'm no fan of, by the way. They're run by Larry Fink, so arguably one of the most powerful
men in the entire world. He was on CNBC and I've talked about this before now it's been a month or two ago, and he said that people are moving to bitcoin for safety. So arguably one of the most powerful men in the entire world runs the largest asset manager in the world, is calling bitcoin a flight to safety. They've launched a bitcoin ETF, and not just one, but eleven ETFs were approved, not just one, but eleven the
largest asset managers in the world, not just Blackrock. We're talking about like Fidelity and a bunch of other big ones. As a matter of fact, we'll talk about those in a minute. And now it's legitimate. Now every financial advisor has the ability to now recommend bitcoin into a financial portfolio. I talked about this before. I think seventy two percent of financial advisors in a poll, seventy two percent of them said that they would allocate money towards bitcoin if
an ETF got approved. So there you have it. Seventy two percent. That is, that's at least the early majority of that might even be the late majority. Two. The chasm has been crossed. Bitcoin is easy. It's the best performing asset. It's been around for fifteen years. It's certainly not a tulip. It keeps coming back over and over and over. It's now recognized by the largest asset manager in the world, it's approved by the government, and now everybody can buy it. It's a big deal. I have
this prop on my desk here. I just want to show this to you. This is a block clock. It tracks the price of bitcoin in real time. It lost power in March of twenty twenty two when bitcoin price was at forty seven thousand, and I'm waiting to plug it back in until it gets over that price, which it should any minute or any day. Now. It's popped over that today a few times. It hasn't closed over
that price yet, so we'll see where that's at. And here we are on the first day, at the time of this recording, the first day of trading in this big win TF and I want to tell you what's already happening, but before we do, I want to go back just a little bit of time. I want to talk about what happened before the launch, because more signs
of government and competence. You know. For as as scared as I am on many things the government's doing about, you know, our potential future, one thing that gives me a little bit of hope is that, man, the amount of government incompetence is so high, and it what happened is it'll probably give you a little chuckle. Maybe it was government of competence, maybe it was intentional. We're going to talk about that, but it reminds me of a story that happened to me about five years ago, right
around this time. As a matter of fact, it was in January of twenty eighteen, and I was with my family on the north shore of O Wahoo. I was in Hawaii. We rented a house right there on the beach for a month. Because I love to surf. I love the big waves. And so we're over there and we wake up, but it's about eight in the morning, and our phones are all going off like this, these alerts, and go to grab my phone and take a look at it, and on my phone is a message, and
I think I have it right here. I have the actual text message that we got here. I pull it up. I'll just read it to you. Yeah, so here we go. Yeah, so here we go. On my phone emergency alert and it says ballistic missile threat inbound to Hawaii. Seek immediate shelter. This is not a drill. That was it. That's what I said. My phone's going off, my wife's phone's going off, my daughter's phone's going off. We grab the phone and we wake up like still got you know, sleep in
our eyes, et cetera. And all of a sudden, it just says ballistic missile threat inbound to Hawaii, Seek immediate shelter. This is not a drill. Now we're in an airbnb, like, I mean, we go to Hawaii quite a bit, but I don't know much about the island, and I don't know if there's bomb shelters or nuclear bunkers. I certainly don't have any iodine if it's a nuclear attack, like I member's over there on vacation, right, and this is what we see. Now. I'm telling you this story because
this is sort of what happened with the SEC. So I'm gonna explain to you exactly what happened with the SEC. But I gotta take a very quick break. If you're just tuning in, you're listening to the Mark Moss Show. We're talking about I think it's potentially I think the future will show this might be the biggest move we've seen in the financial markets in decades. All Right, this is a big deal and you need to know about it. We'll talk about it more when I take when I
come back from a very short break. Again, you're listening to the Mark Moss Show. Don't go anywhere, don't want to miss it, So I'll be right back. All right, Welcome back. If you just tune in, you're listening to the Mark Moss Show, we're talking about the Bitcoin ETF massive news. Do not sleep on this. Let me break it down for a little bit. Right before the breakdow I was telling you about this story of how it was in Hawaii in January twenty eighteen, and I woke
up to getting this inbound ballistic missile threat. It's not a drill now. We sat there for As a matter of fact, this is what got me to join Twitter because we could not find any information about this. We scoured the internet, scoured the news, turned on the TV. There was nothing about it. My business partner at the time, he was on Twitter and he was able to pull up a bunch of news people talking about it. And
Twitter's amazing forgetting instant news. By the way, if you're not following me on Twitter, check me out at one Mark Moss. It's the number one at one Mark Moss. Hit me up. Let me know you're listening to the show. I'd love to hear from you. But anyway, it turns out that about I don't know. It was about thirty forty five minutes later they issued a release that, oh, there's no inbound ballistic missile. Somebody just accidentally did that.
So someone accidentally did that, just like accidentally hit the wrong button. But wouldn't somebody have to type in the message. It wasn't just somebody hitting the wrong button. They had to type in the message. Right. Whatever the story was, we'll never know the government never tells the truth. But somehow accidentally that message got sent out. It wasn't wasn't. Obviously didn't happen. No bomb happened. We don't know the truth.
But now let's go back to the SEC. So the day before we were supposed to get the approval, the SEC Twitter account put out a message saying that it from the SEC account that the ETFs were approved. Everybody's going crazy. There's all types of tweets going on. All these Twitter spaces started popping up. I got I jumped onto some Twitter spaces. We're talking about, oh my gosh,
you got approved. We got approved, got approved. And just a little while later, I don't know, it was about thirty minutes later, Gary Gensler, the head of the SEC, goes on his Twitter and says the SEC account was compromised or hacked. It's not really approved. Hmm. Sort of like there's not really a ballistic missile inbound Hawaii to kill you. Huh. Okay, so it was hacked. Well, you might know that I've recently just got my Twitter account back.
I was. My Twitter account got hacked in August August twelfth of last year, and I was locked out of my Twitter account for five months. I got back in January first, a few weeks ago, and it took me five months. I'm a ky seed blue check pain. They charged my account every month. I filled out over like thirty probably plus support tickets, and took me five months get my account back. Supposedly the SEC's account got hacked
and they got it back within minutes. Probably not, but also the message looked very official and Genzo's responses very quick. So then obviously speculation starts going on. And my best guess was that it was probably meant to go out the following day, and the intern that was putting it into the SEC Twitter account when they scheduled it, they probably put the wrong date in there. That's probably my guess. Now what was interesting is the market started going crazy.
As a matter of fact, you got this huge spike run up and then you got this huge sell off. Maybe they wanted to see what was going on. Now, the insanity of this is that the SEC goes after people like Elon Musk for using Twitter to manipulate markets, and here they were intentional or not. I don't know, they didn't secure their account, whatever the case may be. They should. They're liable for it. They use Twitter to
manipulate the market. Somebody or somebody's use that information to trade off of just look at the data, you can see it. And so the SEC supposedly, you know, trying to watch out for us, for the consumer, watch out for the little guy, was the one that manipulated the
markets with this. Now again, whether it was intentional, an intern did it or whatever, they didn't secure that properly, which brings up a whole other topic about government comms being insecure unsecured, right, Like, if somebody has access to all the government comms, I mean, think about what they
could do. I mean somebody at Twitter could potentially, and I don't want to say this for sure because I don't know, I don't work at Twitter, but potentially Elon Musk or somebody else working at Twitter could put out tweets on behalf of a government account. I mean they could say from the DoD Department of Defense, like we've just launched nuclear weapons to China, for example, right, and
imagine what China would do. Imagine if China saw that message, like I woke up to saying that there was inbound nuclear weapons and it was from the DoD for example, right, what would they potentially do. So think about how much of a danger that is somebody inside Twitter having access to all the government comms. What we've seen happen many times, you know, through whatever you want to call the vigilantes or whistleblowers, is people doing things like this, and so
that's a big problem. Now we do have a solution for this, and this is of course decentralized technologies, which I talk about all the time. And so one kind of strong up and coming replacement for Twitter is what's called Noster in ostr, which is a new type of technology that basically it gives you like a Twitter like client, but it's completely decentralized and only I can control my Noster account through a use of a private key, a
cryptographic key, sort of like how bitcoin works. And so it's only a matter of time before we see things everything switch over that we have to. I mean to think of a government comm as being run on a platform that could be compromised like this, It's it's pretty insane, and think about it. Okay, so now here we go. Let's get past that. That was a little bit of mess up again. I have to laugh at the incompetence
of the government. But here we have it got approved and so what happened, well, they fumbled the launch, but then it opened up. And so far on the first day that the etf'spent open, we've seen four point six billion dollars of trading happen on it. That's pretty massive. Now to put that into some perspective, four point six billion that's in trading, that's how much has moved daily. But I mean, you're we're talking on an asset that
already does forty fifty billion a day. So potentially, you know, it's less than ten percent of the total amount of daily transaction jumped into the SEC. So it's not overwhelming, but if we put it into perspective, maybe it is. So we saw, you know, bitcoins a lot of things a lot of people compared to like a digital gold like a store of value. But if we look at gold, we have gold ETFs. A lot of you might own
a gold through in ETF. And if we look at gold ETFs, what we can see is the very first one was a spider SBDR is a symbol spider gold trusted with the symbol is GLD. It's the most well known etf. It's been seeing significant growth and it launched in two thousand and three. Right, It launched March twenty eighth of two thousand and three with an initial assets under management of around one hundred and fifteen million. So when the gold one was launched, it got one hundred
and fifteen million. Now that's assets under management. We don't know exactly where the assets under management went up in these bitcoin ETFs yet. We'll have to let the dust set a little bit. But we see four point six billion in trading, so we'll probably end up at a billion versus one hundred and fifteen million in gold. Sorry, gold guys. Now by two thousand and four, By the end of two thousand and four, which was almost two years later, they had grown to about one point five billion.
So it took gold almost two years to get to one point five billion in assets. And I bet you the bitcoin is going to be there in a month. Sorry gold guys, Sorry to the paiders or whatever. I don't know. We'll see what happens. Uh. Then we saw other We saw other ETFs pop up. I think there was five gold ETFs that popped up in the first five years. We saw ice shares Comas Gold Trust IAU
launched in January twenty first, two thousand and five. We saw ETF's Physical Gold that's the gold launched on November eighteen, two thousand and five. We saw another one launched September two thousand and nine. Sprot Physical Gold Trust launched February twenty ten. Aberdeen launched October fifteenth, twenty ten. So from two thousand and three to twenty ten, we got five that opened up. Five. Now to put that into perspective, we just got eleven bitcoin ETFs approved. So it took five.
It took seven years to get five gold ETFs, and now we got eleven bitcoin ETFs in the same day. Pretty amazing. And again if you look at the price. So we're gonna talk about that. We're gonna talk about which of these bitcoin ETFs opened up, the good the bad about them, and we'll protect some of the pricing and what you should do to pay attention to this. If you're just tune in, you listening to the Mark Mass Show talking about of course the bitcoin ETFs the
biggest news in the financial space for sure. Got a whole lot more to cover when I come back, but I got to take a very short break, but you don't want to miss it. Don't go away. I'll be right back. All right, welcome back. If you're just tune in, you're listening to the Mark Mass Show. We're talking about the bitcoin ETF that just got approved. Big, big, big news, the biggest news, the biggest news in the financial space.
I don't know if there's anything bigger at least right now, and so I'm sure you're already hearing about it, but I want to bring it to you from another angle. We were just looking at the bitcoin ETFs compared to the gold ets As we've explained, they're way bigger. They're blowing away records, which is pretty amazing. Will that push the price up of bitcoin like it did gold similarly
to gold, we'll see. What we do know is that when the gold ETF launched, the price of gold was about three hundred and twenty seven dollars announced three twenty seven, and by the time the fifth one launched it was up to thirteen hundred. So from three hundred to thirteen hundred, as I said, that was five gold ETFs, we saw eleven bitcoin ETFs launch at the same time. Now, bitcoin is the single greatest asset of all time. It's been growing really really fast, and now we have eleven ETFs.
And what we saw, which was pretty interesting, is all of these ETFs that were getting approved were starting to fight over they're fighting for you, right, They're fighting for you as a customer, and they started fighting by changing their price structure how much they'll charge you to use their ETFs. And they started moving the price down lower, lower, lower, lower, lower, including you know, even free for a while, right, eventually
they'll charge you, but even for free. And it made me I think that one obviously, you know, capitalism is that when competition is there, you and I as a consumer get better products, better service, better prices. So that's good. But what I really made me think was that if all of these ETFs are willing to drop their fees that low, they must be expecting a massive amount of inflow, right because they need to have money. They need money to cover their cost. They're not doing this for free.
It's very expensive because of the bureaucracy and the red tape involved in the financial industry. It's very expensive to launch an ETF. As a matter of fact, I looked into launching my own ETF. There's another YouTuber, meet Kevin, He launched an ETF, and the company that launched the
etforum contacted me about launching one as well. So I looked into it, and it's very expensive, you know, you're looking at on the low end, probably half a million dollars, if not millions, And to get the ETF if you're you know, one of these big companies, millions for sure, And so you're not going to launch that if you don't think you can make money. And they were lowering the price, lowering the price, lowering the price, lowering the price so much for competition, and they can raise the
price later potentially, I guess. But what it shows me and most people kind of commentating on this that understand, is that they're probably expecting a massive amount of asset under management, so that even the low amount of fees at the percentage basis is still enough to cover that. Now, another thing that's interesting if we compare this to a gold ETF, is that this is the first ETF in history ever in which the underlying asset, in this case, bitcoin,
has a fixed supply. So what do I mean by that? So in a uranium ETF or an oil ETF and certainly in a gold ETF when more people buy gold and the price of gold goes up, what happens. So when they jumped into the gold ETFs and it pushed the price from three hundred and thirteen hundred, what happened, Well, more gold companies and gold miners went to go get
more gold. When it's three hundred bucks, you have a few people mining to bring gold to the market goes to thirteen hundred, they're rushing to go get more gold, or more uranium, or more energy to the market of the price goes up. But bitcoin is the first asset in history that can't do that. Bigcoin is a fixed apply. So what happens with that, we don't really know. We don't have history to tell us. But let's just say
number go up. We call that gu ngu technology is sort of a tongue in cheek way to say that. But the price would go up. We've never seen this before and it could be very volatile, So I would
expect massive amounts of volatility because of this. Now, some of the volatility has been because people are leaving some of the more expensive ways to own bitcoin in the past through funds like this, such as the gray scale bitcoin trust, and so that's also part of the volatility and sart of the liquidity that we're starting to see withdrawing from those funds moving into the other ones. Some other things that we're seeing right now today, which is
pretty interesting. I think this is going to but if you're online at all, you can see, for example, Vanguard, which is one of the top three asset managers in the world, Blackrock, Vanguard, and State Street being those three, Vanguard is refusing to let customers buy bitcoin through the
ETFs with their own money, which is pretty interesting. I would just say that if your bank, which happens to me quite a bit, or your fund, whatever they are, if they refuse to let you do something with your own money, I would just ask the question, is it your own money? Now, many times I've had wires block up onto my bank. I need to send a wire, they block it, They make me fill out forms, they ask me questions. I've had to sit down with bank managers. I mean, you name it, and it makes me so
angry because it's like, look, man, it's my money. What do you like? Who are you to even ask me if I want to send my money? It's my money? But it's not right. So you understand that in the banking system, that money is no longer your money. That money is now an ioe you to you right now, you're an unsecured creditor of the bank. So it's actually
their money. They decide what they can do with it, and in this case, Vanguard is doing that, and I'm starting to see reports of other institutions also blocking access to funds. I did see people buying it with JP Morgan, Fidelities doing it as well. Fidelity also has their own ETF as well. But I think that some of this is going to just change. I mean, look, it's been at the time I'm recording this, just one day, right, like,
give it some time. The one thing that I see over and over and over and over and over that just wreck most people, specifically when it comes to investing, but in life in general, is just a short time span, right, preference and so expecting way too much too soon, and it's like, look, man, give it a day. It give it a couple days, give it a week. I'm sure Vanguard is going to come around. Maybe it takes time
to get that set up. Maybe they don't, you know, they got caught off sides, or maybe they're skeptical, maybe they don't want you to do it yet and they want to kind of see how it plays out. Whatever the case is, I wouldn't be as I've seen people talking about online. I wouldn't be rushing to close my accounts and move money over. I don't know if it requires that, but a lot of people are doing that.
If I was going to do that, though, I would be choosing Fidelity, and I'd probably be choosing Fidelity for a number of reasons, which I want to break down for you, one of which is because Fidelity is sort of a true og bitcoin company. What do I mean by that, Well, I mean that they have been in the bitcoin space for a long time. I think they started mining bitcoin back in like twenty fourteen or something like that. So Fidelity has been in the forefront of bitcoin.
They're a true bitcoin company, and if I was going to support one, I certainly wouldn't be supporting black Rock. I would probably be choosing to support Fidelity. They put out a report in October of twenty twenty three I talked about before, and they were talking about why investors need to consider bitcoin separately from other digital assets. Meaning bitcoin, not crypto as we talk about all the time. And they put out this report which I thought was very
very good. Ten different points or lots of points in the report. I want to hit on a couple of them, but one they talked about how bitcoin is this brand new technology and how never in human history have we seen or have we been able to solve the problem of digital scarcity and have this like peer to peer way to transfer. Now, you might say, but but why would they say we don't have that with other cryptocurrencies? Well, ethereum,
the number two cryptocurrency. They've changed their monetary policy like three times in the last couple of years, so they make it more scarce. They may make it less scarce, but the very fact that they can change it means it's not right. So bitcoin hasn't done that. Bitcoin's fidelity said that bitcoin should be considered first and separate from all other digital assets, so sort of making that case, they said that owning bitcoin is like owning the base
layer of the Internet. Imagine being able to do that. Right, So we talk about bitcoin as like a protocol. A protocol is a basic set of instructions that determines how packets of information go across. So on the Internet we have like the IP TCPIP and bitcoin we have the same thing as a protocol, and you can own the base layer. So there's a lot of things that Fidality's got right. They're a bitcoin company, and if I was going to use an ETF that's what I'd be using.
We're gonna be covering this a whole lot more. You're not gonna want to miss out on this, but I expect this to move the bitcoin price. What we say up and to the right, that's up. N gu number go up. Anyway, if you're just tuning in, you're listening to the Mark Moss Show. Like I said, I'm back on Twitter, so i'd love to hear from you. Hit me up on Twitter at one Mark Moss. Let me know you're listening, let me know what topics you get me to cover. If you're listening on the podcast, I'd
love it if you'd like and review the podcast. That'd mean the world to me. And that's what I got. Thanks so much for listening today. Until next time,