2369: $14T Bitcoin Shift - BlackRock Opens The Floodgates

**Justin Verrengia** (0:00)
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**SPEAKER_2** (0:25)
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**Justin Verrengia** (0:53)
Most people think the Bitcoin ETF was the big story. It wasn't. What comes next is so much bigger. Check this out. BlackRock oversees roughly $14 trillion in assets, making them the largest asset manager in the world. And it just made its next move in the Bitcoin. Most people think the Bitcoin ETF was the story. They're wrong. The ETF opened the door. Now Wall Street's taken the next step. For years, Bitcoin critics said the same thing. Bitcoin doesn't pay income. Bitcoin doesn't generate a yield, and Bitcoin just sits there. Like a pet rock, as Jamie Dimon once said. BlackRock heard the criticism, and now it has the answer. This week, BlackRock is launching a Bitcoin income ETF. The new BITA fund will generate income using BlackRock's existing $49 billion Bitcoin ETF. Then, it will distribute that income to their investors. Let that sink in. The largest asset manager on earth didn't walk away from Bitcoin. It doubled down, and BlackRock isn't alone. Goldman Sachs also preparing a competing Bitcoin income ETF scheduled for July. The race is on. Not to decide whether Bitcoin matters, that debate ended years ago. The race is now about creating new ways to gain Bitcoin exposure. That's why this story matters. Every new product creates new demand, every new product removes friction, and every new product makes Bitcoin easier to justify, easier to recommend and easier to own. Meanwhile, the supply remains fixed. As of today, US-bought Bitcoin ETFs hold approximately 1.27 million Bitcoin. That's more than Satoshi. That's roughly 6% of the circulating supply. BlackRock alone holds more than 764,000 Bitcoin. Think about that. One institution now controls more Bitcoin than most nations could ever hope to acquire. And the accumulation continues. Public companies now hold approximately 1.22 million Bitcoin. Strategy remains the undisputed leader with 846,842 Bitcoin. In fact, Sailor just announced another Bitcoin purchase today. Strategy acquired 1,587 additional Bitcoin for another $100 million.
And at the same time, the company again increased its cash reserve to $1.1 billion.
Read between the lines. The largest corporate holder of Bitcoin is still accumulating. Not selling, not slowing down, still accumulating. Governments are doing the same thing. And collectively, nation states now hold more than 500,000 Bitcoin. The US alone holds roughly 328,000 Bitcoin. And they have a Bitcoin strategic reserve proposal to purchase 1 million in HODL for the next 20 years. So while the headlines focus on short-term price action, something much bigger is happening beneath the surface. More Bitcoin is moving into ETFs. More Bitcoin is moving into corporate treasuries and moving into government wallets. And more Bitcoin again moving into long-term storage. The available supply keeps getting smaller. And at the exact same time, Wall Street keeps creating new ways for capital to enter. That my friend is the shift. That's the floodgate and why so many people still underestimate Bitcoin. Most people are watching the price. BlackRock is building products. Most people are debating Bitcoin. Strategy is buying Bitcoin. Most people are waiting for certainty. Wall Street is preparing for adoption. But markets don't care what people believe. Markets care about supply and demand. And every day, more capital gains access to a scarce asset with a permanently fixed supply.
Simple question, what price does Bitcoin reach if BlackRock, Goldman Sachs, ETFs, governments and corporate treasuries keep accumulating? The interesting part isn't even the ETF. It's what comes after the ETF. Take a look. $14 trillion BlackRock launching a Bitcoin ETF that pays a monthly income. Looks like they were inspired by Michael Slaylor. You don't say. The new BITA ETF will sell options on BlackRock's $49 billion iBit fund and distribute the premiums as yield. It is set to launch this Thursday. So this is going to be a big week. Meanwhile, Goldman Sachs is preparing a rival Bitcoin income ETF for July 1st. Yeah, it sounds very familiar to what Slaylor is doing with Stretch, paying the 11.5% dividend. We'll get all the deets once they're released, but this should be a big week for Bitcoin. Eric Valchunas, who is the expert when it comes to these ETF launches, he's saying they're ready for this to launch this week. Again, Thursday is when they're saying it could happen. It's not set in stone, but that's the most likely scenario. So again, big week amongst us. Also, Michael Slaylor announced today they acquired 1,587 Bitcoin this week for $100 million, increasing their Bitcoin reserve to now 846,842 BTC.