| Dear Reader, Bitcoin…still the bastard son of financial assets…is on the up yet again. One mainstream analysis firm…UK fintech firm Finder…concluded from a recent study it will reach a new record of US$88,000 this year. I’m sceptical of precise short-term predictions like that. But I have a much-broader projection…going through to 2030…which you need to see here. When you look at the big picture that I’m about to show you... ...you’ll get a pretty clear understanding why smart money is mobilising BACK into crypto in 2024. Big-name money managers and institutions have started to lock-up key digital assets.  | Source: Coindesk |
And on 10 January 2024, the launch of the long-awaited bitcoin spot ETFs just moved the needle. As I predicted in July last year: ‘Understand this… ‘The top 20 asset managers and banks control US$57 TRILLION, and 12 of them flipped bullish on BTC the week after BlackRock announced its ETF filing. ‘Why’s an ETF such a big deal? ‘Well, the big problem for financial advisers is that they could never recommend bitcoin in a compliant way. ‘Even though to crypto natives it doesn’t make sense to use an ETF — you can just self-custody — from a corporate point of view, legacy rules made this impossible. ‘An ETF solves this. ‘Now, here’s the thing… ‘It’ll likely take at least six months for any bitcoin ETF to be approved. It may also be declined (something to consider as a ‘what if’, but not something that changes the value on offer). ‘But let’s say it takes six months and we get a US-based ETF
approved — followed by a spate of global approvals — in January 2024. ‘You’re talking a potential exponential increase in demand, only three months away from the next halving event!’
I was right. This is EXACTLY
what’s happening right now… (Which is EXACTLY why you should read this to see what I think’s going to happen next…) In 2024, bitcoin’s been anointed by finance’s largest players as a legitimate asset class. And they’re hoovering it up by the bucket load. Since launch, the 10 approved spot bitcoin ETFs have now amassed over US$55 billion in assets in just two months and there’s no sign they’re slowing down:  | Source: Bloomberg |
As Bloomberg’s Senior ETF analyst, Eric Balchunas exclaimed: ‘First two months officially in the books (it’s felt like six) and the ten bitcoin ETFs now have over $55b in assets with exactly double that in volume at $110b. If these were the numbers at the end of year I’d call them a success. To do it in eight weeks is simply absurd.’ These are the companies with the ability to put a bit of bitcoin into EVERYONE’S portfolio — including yours — whether you know about it or not. Whether you like it or not even! And already Fidelity’s Canadian operation has included bitcoin in its ‘All-in-One ETF portfolio. They’ve added a 3% exposure in their Growth option but get this… They’ve also added a 1% allocation to their Conservative fund!  | Source: Fidelity |
I can’t tell you how bullish such things are for the price and adoption of bitcoin. And while the sceptics in the mainstream continue to howl into the wind, in my opinion, we’re about to see the first crypto bull run backed by the world’s biggest banks. Of course, crypto will remain among the most volatile financial assets on earth for some time yet. We remain in the ‘price discovery’ phase. So you should fully anticipate some more violent corrections downwards. This is not going to happen in a straight line upwards, obviously. But this is my hypothetical ‘Road to $1 Million for bitcoin by 2030’. And it’s going exactly as I theorised back in 2022. Regards, Ryan Dinse,
Editor, Crypto Capital Foundation | 
