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Hello this is Matt on the moon Lambo Channel got a few stories to share with You in this latest Moon Lambo Hot Jam Here's a headline from the Crypt basic Ripple CEO explains why us institutions Fail to use xrp even after winning Against SEC and this expands upon Something that I was talking about in a Video literally just yesterday uh but Then Also Brad Garling house says Hey Gins Quite the political liability and I'll Explain exactly what he was talking About and um and then there's this topic Separately of Bitcoin the Bitcoin ETF Getting approved here's headline from Coin Telegraph Bitcoin ETFs will drive Institutional adoption in 2024 Galaxy Digitals Mike no regrets but look I Think most of us understand that the High probability uh play here is that Yes this is going to come to pass but The question is what does this mean for Our Holdings what does this mean for Bitcoin what does it mean for all coins What does it mean for our xrp Holdings Well I want to share with you Perspective from from my fellow xtrap YouTuber the blockchain backer who is Skeptical of exactly what this will Result in for all of us and I got to Tell you I I pretty well agree with them But I want to expand just it's not Enough to just say yes there's number of
Considerations here but I I do think He's pretty well hitting the nail on the Head here and so I wanted to kind of Break that down and what it could mean For uh you know whether it's Bitcoin or Your alt coins including xrp because Even though if this is going to be good For Bitcoin the spot Bitcoin ETF Okay but I still stand firm in this idea That it's going to be even better for For altcoins even though it'll be Indirectly better for alt coins and That's just because there's more money Flowing in ultimately into the crypto Space but is it actually good Immediately is it good in the short term Well we'll be talking about that but U 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 or right I'm just an Enthusiast who enjoys making YouTube Videos about crypto related topics but Just as a hobby and just for fun all Right and so Brad Garing house was Quoted as stating the following just the Other day and I don't really want to go Through this whole article because I'm Kind of piggybacking on something that I Was covering literally just yesterday But um but but take a look at this this Is what Brad Garling house had to say
They're like look even though you won The case the United States government is Still hostile towards crypto and so Folks he's talking about um you know on An Institutional level um how this is Viewed because even though there's Clarity specifically for xrp if you're If your question is uh you know what About further adoption for xrp even as In ripples use case as a bridge currency Well again when you're talking about Institutions failing to adopt xrp Specifically in the United States Although to be clear broadly adopted Outside the United States for for Ripple's use case of XP as a bridge Currency that keeps incre in that is Going the right direction what about the United States okay well they think even If there's something specifically clear With xrp uh while there's still the Opportunity in theory for appeal and Banks are historically about the most Conservative you know cons conservative Firms out there conservative businesses And so that's why Brad Garling said Quote they're like look even though you Won the case the United States Government is still hostile towards Crypto the OCC which is the options Clearing Corporation is hostile towards Crypto and until that changes the banks In the United States are not going to Engage
Meaningfully right and so when you're Talking about the clearing Functions things can flip out a dime I Mean if you're talking about in in a in A particularly notable way implementing Xrp into your payment flows is this the Right time to do it so I understand the Hesitancy but I firmly believe also all This get work gets worked out in the Long run and RP is clearly here to State Including for this use case and in fact As it turns out and I think Brad Garin House is absolutely right on this this Is harmful for the SEC the SEC as a Awful as they've been for we in the World of crypto and specifically us here In the xrp community the actions the Positions that they've taken everything They're doing it ends up being Ultimately bad for them because they're Wrong on on they're on the wrong side of History they're wrong on the law and as A result they're not getting away with This stuff and that's very clear at this Point point which means it's bad for Their actual agency and it's bad for the Political party that that put ginzler in Charge ultimately and that nominated him And so there's this post from the Unusual Wales account on social media Platform x with 1.5 million followers And they simply wrote the SEC and this Is from this morning the SEC has opened Talks with grayscale over its bid for a
Spot Bitcoin ETF conversion per the Block okay and so that's Fant FAS we Already know that in the recent lawsuit With the SEC and Grayscale the the SEC lost it was a it Was an absolute Slaughter not surprising Now that doesn't mean it never did mean That for sure gray scale would get Approved for this the their their spot Bitcoin ETF because they want to convert Their uh their Bitcoin trust into that Product but it certainly made the odds Of that happening way way way higher Right and so here's what Brad Garlinghouse had to say about this in The morning it only took a few years to Open talks and folks you got to admit That's pretty ridiculous years and years And years in this lawsuit and everything Going on and all the filings for spot Bitcoin ETFs just years just to have Them talk just to get to this point but I think that they are at this point in Time where they recognize that it's time To acques Because the writing's on the wall folks They're not going to continue to get Away with this even if they continue to Refuse the approval spot between ETFs Which they could I just don't think That's probable but they could even if They do that the courts are going to Smack them down and it's ultimately Going to be forced these these products
Are going to exist and so then Brad said When you compare this to how many other Countries engage proactively and Constructively with industry you truly Begin to understand how much of a Political liability guinsler SEC has Become right and so you don't want to be On the wrong side of History um once It's clear that you're you're like You're on the losing side so you so yes They were fighting for what they wanted To fight for because they're just awful Awful Humans but now it's clear they're not Going to get what they want and so at Some point you either shift or you're Quite the political Liability so this is going to happen but Then the question is what does it mean For us so let's shift gears and get a Little bit more into that I want to Share with you perspective from the Blackchain backer and then I had a Response to it because I I think he's Rather insightful on this but I just Want to kind of flush out some thoughts On the topic So here's a headline from the coin from Coin Telegraph Bitcoin ETFs will drive Institutional adoption in 2024 Galaxy Digitals Mike novogratz Galaxy digital Founder Mike novogratz has told Investors in 2020 that 2024 will be Headlined by institutional adoption of
Cryptocurrencies which will be driven by The pending approval of Bitcoin spot Exchange traded funds during Galaxy Digital's third quarter earnings call November 9th novag grats highlighted the Firm's belief that approving several ETFs is now not a matter of if but When the fund manager filed its spot Bitcoin and ether ETF applications with The United States Securities and Exchange Commission in partnership with Investco in Q3 2023 investor sentiment has turned Bullish in November 2023 with prominent ETF research analysts predicting the SEC Will have approved 12 major spot Bitcoin ETF applications by January 2020 24 so what is this going to mean for us Though I I I think most of us in the World of crypto believe this is coming Much sooner than later that that I'm I'm I place my Bet and maybe my first bet that it's Only going to be Black Rock to start is Wrong part of that just because I think That the SEC is incredibly scummy so Maybe it's maybe it's my second guess Maybe a bunch get approved at once and I'm starting to think perhaps that's More probable but whatever I don't know It's always just been a for fun guess Anyway either way I've been in the camp Of yet we're going to get this product Much sooner than later I've been like
That for a long time for months on end At this point probably but again like I Keep saying what will this or won't it Mean for us as xrp holders for us as Holders of cryptocurrency in General well there was this post from The blockchain backer last night and he Wrote several Bitcoin Financial products Launched at Major reversal points for Bitcoin's Price such as CME Bitcoin Futures in 2017 Canada's Canada's Purpose Bitcoin ETF in 2021 uh boo bitto pro shares Bitcoin ETF In 2021 and bitty prochur short Bitcoin ETF in 2022 I think we're being set up again And so the blockchain backers Perspective is that these are just Narratives just news stories and that These are just for the typical retail Speculators to make you know stupid Decisions on basically and and and That's to put words in his mouth but That's the sentiment that I've gotten From hearing his perspective on this and I think broadly speaking he's pretty Well correct to me that pretty well Sounds like pretty much hitting the nail On the head here but it doesn't mean That um a spot Bitcoin ETF wouldn't Matter over a you know a sufficient Timeline but look I was here in 2017 I Remember when the Bitcoin Futures were Approved and when did that happen I
Think it was like pulling from memory Here but wasn't a matter of like weeks Before Bitcoin hit its top of close to $20,000 in 2017 it wasn't long before That and so yeah Bitcoin ramped up but Did that do anything to Spur it to 50 Or80 or $100,000 in 2017 no it certainly Didn't but those by the way those Narratives were alive and well back then I was there they were absolutely alive And well didn't happen though the Products didn't do that it's a thing and Maybe Bitcoin was going to ramp up about The same anyway but U either way it did It it spurred excitement to whatever Degree okay fine but it's not something That was going to be sustainable it's Like here's the people that are getting Even more of a frenzy now that are Operating in the world of crypto and Speculating making important financial Decisions based on emotions right so More of that uh now I I I would assume In terms of ultimate impact and I think This is pretty fair that when you're Talking about an ETF approved in the United States versus Canada the one in The United States should be more Impactful right nothing against Canada I'm sure they're Canadians listening now Um and we love having you as America's Hat it's fantastic you're looking good Up there but um just from an economical P standpoint let's be real of course in
The united that this type of activity The United States is going to be more Substantial and so even though I I do Agree with everything that the Blockchain backer wrote right there um I Want to expand upon it because I I do Still think that the ETF will matter Over a longer period of time and so I uh I wrote the following you certainly may Be correct my take in a nutshell is that Approval of multiple spot Bitcoin ETFs Will have a profound impact over a span Of years and decades but it's not the Case that a wave of money from Trad Traditional Finance flows into Bitcoin The day the news breaks your concerns Are unquestionably valid and so folks That's true like even if you understand Even if you see the price of Bitcoin Rocket on up the day that this news Occurs and it may because people get in A frenzy about this stuff that may be Shortlived it may be moving back to the Downside U so and so either that's going To happen I think or you're not going to See a move up and it just goes to the Downside though I think that's less Probable I think that people are going To feel the excitement you're going to See it ramp up to some degree and then You're going to see your retracement Back onto the downside and and and so Understand that on the day this news Breaks it doesn't mean that all the
Excuse me take up a while been talking a Lot it doesn't mean that suddenly all The money that could flow into Bitcoin Which will impact the actual supply of Bitcoin it doesn't mean that on day one All that money actually flowed into Bitcoin in fact when the news breaks None of it will have flowed into into Bitcoin literally none of it that's just The news that there's the approval then You got to launch all this Stuff and and and then you know people In traditional Finance they have to they Have to learn that this is an option for Them to purchase and there is a real Thing about an actual Salesforce I have A sales back and I know that this is a Real thing you know people aren't just If you open a business and just offer Products you know people aren't just Going to come running to you for the Product you need to sell it and so if It's on a retail side maybe that means It's more marketing and advertising M if It's on a bus to business side maybe you Have an outside Salesforce which is what More my background is career-wise I Understand and so if you're talking About a Salesforce of over a 100,000 Wall Street investment advisers pushing This product that would have a profound Impact over a longer period of time but As far as The Narrative of this is going To cause Bitcoin to moon in $100,000
Plus immediately or quickly I I I don't Think that's particularly probable but But but consider this also if you think A a Bitcoin spot ETF won't substantially Impact the price of Bitcoin over a span Of years and decades then you'd have to Believe that the Bitcoin ETF product Will be a failure for firms like black Rock that launch It because if it's a success that means That tons of money from their clients Are throwing money into the ETF and then You know the likes of Black Rock and Other firms that have these products They'd have to purchase Bitcoin because It has to be actually back that's the Point of this you have to act it's Actually back which is different than Futures market so it will have that Supply and demand impact so if this is Going to in any sort of meaningful way Or any sort of detectable way impact the Price of xrp then it has to be Successful for these firms so I'd bet That it's successful and so even if it's Just um a single digit percentage Increase in volume even if it's it's a Decade from now whether it's 5% or Whatever it's still going to be Something you get a multiplier effect Now now realistically it's there's a Good chance it could be higher than that But you get the concept that I'm sharing With you
Right and so I I I don't believe it will be the case That that these products fail for the Likes of Black Rock I mean the the Reason they're launching is because They're get they they can see there's Demand from their customers their Customers actually do want it and so to Think that this wouldn't be that this Wouldn't especially over a span of Decades have a an impact on bitcoin I Think would be a mistake no no that's Not what the blockchain backer saying I Haven't heard him share his perspective On what this means over the long go I'm Just saying I agree with them I'm pretty Well lockstep with with them in terms of This being for the retailers out there And the news is going to hit them and uh They're going to feel emotions about it I haven't heard them say anything about The long term so I'm just expanding this Is just these are just my thoughts I'm Not disagreeing with him in any sort of Way way I'm just to just to be clear um Although if I did disagree I just Articulate because I I think it's fun to Have civil discourse but um you know John Deon on his cryptool Law YouTube Channel maybe it's a week or two ago uh He had a a guest on his channel who Works in crypto Finance on an Institutional level and he shared some Numbers regarding uh the price impact on
Bitcoin what what's expected you know in Terms of supply and demand and and I Didn't you know I didn't serve I'm not Serving those numbers up in this video And I didn't commit them to Memory but He just went through cold hard numbers And facts and noted you know even if You're you're pretty conservative in Terms of your expectations of what would Flow in once a bunch of Bitcoin spot ETFs get approve approval it would have A meaningful impact on the price of Bitcoin over a longer period of time um And so he was of the mindset that Perhaps it is the case that it's uh you Know you're going to see a big selloff Even he acknowledged that so I think People who are thoughtful thinkers on The topic would would acknowledge that At a minimum it's very plausible that That's what's going to happen you're Going to see even if you see a big jump Up you're going to see a pullback but in Terms of the amount of money actually Flowing in it's going to be incredible Over a longer period of time it's just It's opening doors and it also adds Credibility to the entirety of the space And there are other other Pros as well But to me what's most important even Though I'm a Bitcoin holder I'm just not That excited about Bitcoin it's not Going to result in particularly Life-changing wealth for me um I mean I
I have a reasonable amount I'm just Saying relative to everything else I Hold and then you can consider the fact Like most of the money the quick money From Bitcoin it's already been got man In terms of the multiplier effect so Much money has to flow into Bitcoin to Get it to double triple quadruple I'm Just not counting on it for that But but as the the crypto Pi gets bigger Because of stuff like this it's going to Be even more meaningful for our altcoins Including xrp so that's a big part of Why I'm particularly interested about This and then somebody named Vicky well Responded to me and wrote buy the rumor Which is the first half of the phrase Buy the rumor sell the news which just Is the concept of you hear a rumor about An asset so then you buy thinking that That's going to because the price is About to go up you hear the rumor and Then when the news happens that the new Rumor is rumor is true after the price Builds up or maybe it's not true then You sell you sell at that particular Point because it's not going to be Writing up any further by the rumor sell The news so Vicky well wrote by the Rumor and I wrote in response yeah it Could be a sell the news situation even If Bitcoin rallies upon news of the Approval pretty good chance it runs back Down that's why I'm more interested in
The long-term implications so I wanted To flush that out a little Bit um and then there's this this is Very fascinating so so we might get news Sooner than later I don't know if we Will but I want to share it with you That it's a possibility from coin Telegraph sec's first window to approve All 12 spot Bitcoin ETFs to begin Today um and this was an article from November 9th the United States Securities and Exchange Commission could Approve all 12 of the pending spot Bitcoin exchange traded fund Applications within the next 8 Days Bloomberg ETF analyst James CER and Eric Bakunas wrote that starting from November 9th in the United States the SEC has a WI To approve all 12 spot Bitcoin ETF Filings including grayscales conversion Of its gbtc trust product in the days Leading up to November 17th but stressed This was only a Possibility um then here you can see the Uh the quote from James Cort new Research note from me Today we still believe 90% chance by January 10th for spot Bitcoin ETF Approvals but if it comes earlier we are Entering a window where it could uh Where a wave of approval orders uh for For current applications could Occur so then piece
Continues uh delay orders were issued by The SEC for Black Rock bwise bck Wisdom Tree and vesco Fidelity and Valkyrie at The same time cfor wrote in a November 8th post on X he said quote if the Agency wants to allow all 12 filers to Launch as we believe this was this is The first available window since Grayscales Court victory was affirmed in Quote so we're we're in that window Right now doesn't mean for sure it's Going to happen but it is an actual Possibility you could just wake up Tomorrow or the next day or whatever and Then just have the news and then we're Going to have the fun of seeing what Actually happens and and who knows since Bitcoin has jumped up especially since That $288,000 Mark maybe some money has Already plowed in uh you know as a you Know by the rumor type of Situation um we're we're we're all going To find out together what happens here But knowing that and this is a fores Sure thing knowing that on the day that The news breaks that doesn't mean that All of that money from traditional Finances entered Bitcoin and that's a Certainty knowing that's the case any Sort of rally we've seen it's just People who are already in crypto getting In a frenzy right we we know that so That's why it's very reasonable to Speculate as the blockchain backr and I
Do as well that it's it's one of those Types of situations and it's it's for The retail idiots out there basically That's what the that's who the narrative Is for and and Retail Falls for this Stuff all the damn time and so I'm only Making the point that even though that Is true uh it is Meaningful over a long Period of time that this this gets Approved it's good for Bitcoin markets It's good for crypto markets uh and not Only that it's going to open The Floodgate for other ETFs we already saw Black Rock uh news that they're they're Going to be filing for their ethereum Spot ETF and we'll see if that gets Proved and then there will be other ones Including for xrp at some unknown point In the future I presume anyway and so The fact that this would occur it gets All of that in motion and that's why I Keep saying it's hard to overstate the Degree over a long period of it's hard To overstate the degree to which this Would be impactful because it sets a lot Of stuff in Motion in addition to This so it's a good time to be in crypto We are so damn early I'm not a financial Adviser you should not buy yourself Anything because of anything I say or Right that would be a very very very bad Idea until next time to the Moon Lambo
