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Hello this is Matt on the moon Lambo Channel folks I just heard a story That's absolutely wild a former Ripple Employee who is now working at Black Rock which of course is the world's Largest asset manager about1 trillion in Assets under management this guy's now Working at Black Rock after leaving Ripple and he's working as the head of Digital assets there and this is the guy That convinced Larry Fink the CEO of Black Rock to create a Bitcoin ETF I kid You not and it's even more interesting Though because while while this guy was Working at Ripple um he actually created A model he co-authored a model that Predicted a price for xrp of on the high End if very successful $32. 91 and so that's highly successful in Terms of actually being Adopted and uh by the way that's pretty Cool considering That uh you know he was mostly factoring In xrp and and if you read through the Thing he was mostly factoring in xrp as A bridge currency and a store of value And he still came up with on the high High end of highly successful $32.9 but but of course xrp has greater Utility than just that so um you know if You've been in the community in the xrp Community for a while you've probably Heard of the xrp price Model that I'm
Referencing but I was just I was kind of honestly taken aback when I when I was hearing this story and I Heard the name that I heard I was like The Ripple employee that's the reason we Have a Bitcoin ETF with black rock kind Of wild here but uh before going further I do want to be clear I do not have a Financial background of any kind I am Not offering Financial advice and you Definitely should not buy or sell Anything because of anything I say right I'm just an Enthusiast who enjoys making YouTube videos about crypto related Topics but just as a hobby and just for Fun damn it so what's the model that I Was talking about well again like I said If you've been around for a while you're Probably already well aware of this Thing it's been well discussed within The community for almost six years at This point frankly uh it's titled a Fundamental valuation framework for Crypto assets authored by Robert mitnik And Susan ay uh Robert mitnik is the uh The former Ripple employee who went on To work at Black Rock and ultimately he Went on to convince Larry Fink that he Needed to have the firm push for a Bitcoin ETF which is good for the entire Crypto space and it kind of makes you Wonder uh might xrp be next because I Get the sense that at least back then Robert mitnik pretty Pro xrp that would
That would be my guess right there if You hated xrp I don't think he would Have been working for ripple I don't Think that his name would be on this Model I think he would have had nothing To do with it and again the focus of This video is not to run through this Model I have highlighted this in great Detail in the past um I will highlight For a second uh Robert Mitri that's him Right there I'm not going to read Through his whole little about the Author section but that's him right There back in 2018 and if you go down to page 20 um you can see and again this is if Wildly successful his model came out to $32.9 that's the high estimate right There and on the low side it would have Been $637 C now we've had a lot of adoption In crypto uh in the last six years and Yes uh because of the SEC xrp has less Adoption has had less price action than It otherwise would have but uh still It's it just it's always fascinating to Me to see that there was this Recognition of the importance of utility Because even in 2017 when I had been in Crypto for like all of one minute I was Like utility is what matter like either The stuff is going to do something or It's not which is why I was so attracted To xrp from the very beginning that's
The reason I've been holding xrp for Over six years and I still believe that My investment thesis which is that Utility matters and will win the day I Believe that still makes sense here so Check out this story because again this Is pretty wild that this is the case and Again I can't help it Wonder uh given That he he pushed and persuaded Successfully according to this account You know persuaded Larry Fink to to Approve this and move forward with this Uh spot Bitcoin ETF application which Did get approved by the SEC uh could we See something a similar push for xrp in The future and just knowing how much Money is at stake here and understanding That xrp is going to it does now have Long-term viability I'm just sitting Here wondering why the hell wouldn't That happen at some point in the future Even if it's not going to happen Imminently and I don't think it is going To happen imminently not even this year Even if there's an application I think It'll just get denied um well because Gary gendler's in charge but in the Future sure but anyway so I this is the Post I came across this is posted Yesterday afternoon from Scott mker The Wolf of all streets shared this with 93 6,000 followers on social media platform X it's a 58c uh video and I transcribed it so I'm
Going to share with you exactly what was Said in the clip and here's what the Wolf of all streets wrote Larry Fink has Effectively become the world's leading Promoter for Bitcoin many think his Intentions are bad I asked Anthony Scaramucci if thinkink has been Legitimately orange pilled and he shared A personal story with Larry Fink that Proves he had Epic and so this is who's being Referenced right here this is Anthony Scaramucci for those of you looking at The screen founder and managing partner At skybridge Capital which has about $2 Billion doll in assets under management Uh last that's the latest figure I could Find uh anyway that that made public and So here here's what Anthony skyui had to Say this is a quote I met with Larry Fink in November 2021 he says you really Like this Bitcoin I said I do do and Then he looked at me and said Bitcoin Sucks I just got to pause and say that Made me laugh when I heard him say that Bitcoin sucks the sophisticated CEO Black rock1 trillion doll under Management Bitcoin Sucks anyway the transcription continues I said well Larry okay I think you're Wrong I just think you need to do more Homework now there's a guy named Robbie Mitnik at Black Rock he's a young kid he Came into black rock with the idea of
Creating a Bitcoin ETF he orange pilled Larry and I'm going to give Larry a lot Of credit because Larry actually did the Homework Larry did a reversal as a Result of being steeped in understanding Exactly what it is and why it will be an International store of value it takes a Very smart leader to pridefully say Bitcoin sucks and then 24 months later Say you know what I've got this wrong Black Rock needs to be a part of this End Quote okay so this Is kind of a secondhand account but why Do I why why am I you know really Absorbing this one why do I think that It is Credence well check this out a Couple things first let me comment on Larry f and whether or not he's genuine Because he here's the deal Larry Thinkink never admitted he was Wrong you know he he basically just said That the ecosystem surrounding Bitcoin Got better and was no longer primarily Used for nefarious purposes internally Yes people working with him know he was Orange pilled uh he you know but he did Um you know he he did have too much Pride to admit to the general public That he was wrong and and so rather than Come out and say I was wrong about Bitcoin which he never did he said well Things have changed there's been this Evolution and that's what he said that's
That's public facing that's that's the Message he's put forward here now Internally you can see that's not true So I think Anthony scaramucci might be Giv Larry fink a little bit too much Trouble because he doesn't have the Pride to come out and say no I was wrong I did I just or or maybe he even just Thought that that would be a bad look That he was so confident that it was bad And then in such a short period 24 Months later he's changed his mind so is Is what it is although Technically when He had the public facing comment about The nefarious intent I think it was well Before 2021 I didn't look it up before Recording this video but wasn't that Wasn't that like was it 2019 or Something I'd have to look it up again I Thought that it was longer ago than that But uh but anyway so the reason that Anthony scaramucci knows and this is why I like you should take what he says with A you know you know a certain level of I I guess trust if you want to Say the the reason that Anthony Scaramucci knows This the reason he knows this happened This is this is the case how this is how It Unfolded is because he worked directly With Robert mitnik that's right Anthony Scaramucci worked directly with Robert Mitnik and so mitnik got scaramucci to
Invest $10 million with black rock in This endeavor and so that kind of showed That there was this outside demand for This financial product and so ultimately That's one of the things that led to Larry thinkink understanding that yes There's actual real world demand this is An actual thing and then presumably he Actually did the research to at least Have a better understanding about the Whole ecosystem of Bitcoin and broadly Crypto uh so that he could say something More sophisticated than Bitcoin Sucks so uh I'm hoping that you know um Robert mitnik you know knowing what he Knows about xrpc specifically I'm hoping That he can uh you know we kind of sway Him in a direction of uh you know Getting uh getting a spot xrp ETF Application in motion though uh again I I'm not confident that black Rock's Going to get that approved anytime soon Or or even apply for it anytime soon it Won't be I won't be surprised if Somebody applies relatively soon but it Just seems to me that's not something That's going to be happening tomorrow But either way I thought this story was Cool as hell it's a it's another just Just like Ripple and anything of Consequence in cryle crypto just about It's just like there's something that Leads back to Ripple and or xrp in Almost every case it's just amazing it's
Just such a crucial part of of what Crypto has evolved into and and just That's that's at the core of it and so It's just kind of neat to see that Robert mitnik who thinks that xrp could Be worth a veritable fortune in the Future uh has Larry f here just saying I'm not a financial adviser you should Not buy or sell anything because of Anything I say or right that would a Very very very bad idea until next time To the Moon Lambo
