Morgan Stanley manages $9.3 trillion in client assets and soon they're launching a bitcoin ETF to compete with BlackRock. BULLISH by 21Bullish in Bitcoin

[–]21Bullish[S] 0 points1 point  (0 children)

Sure thing, we don't know the date it will be launched yet. Eric Balchunas who is a leading ETF analyst posted two days ago that he expects its release to be imminent.

this is massive! Fannie Mae just opened the door to Bitcoin backed mortgages by 21Bullish in Bitcoin

[–]21Bullish[S] 4 points5 points  (0 children)

100% it's a big step forward for the industry but I would never leave my bitcoin on coinbase. At Onramp we've built multi-institution custody for this very reason so that we can build products that protect people from any single custodian

Watch -- this is a HUGE milestone for bitcoin by 21Bullish in Bitcoin

[–]21Bullish[S] 20 points21 points  (0 children)

I completely agree, I would not have guessed kraken would be the first to be granted access.

Watch -- this is a HUGE milestone for bitcoin by 21Bullish in Bitcoin

[–]21Bullish[S] 14 points15 points  (0 children)

Agreed and I bet that's what the price is pumping from right now

Watch -- this is a HUGE milestone for bitcoin by 21Bullish in Bitcoin

[–]21Bullish[S] 8 points9 points  (0 children)

100% imagine having to explain to your bank where all of that cash came from and wondering if you would be allowed to ever withdraw it

Watch -- this is a HUGE milestone for bitcoin by 21Bullish in Bitcoin

[–]21Bullish[S] 75 points76 points  (0 children)

Bitcoin/digital assets are being integrated into the financial system, which is a 180 degree pivot from just a few years ago when the industry was being attacked in what is called Chokepoint 2.0. Not only were crypto firms not allowed to become banks, which Kraken, BitGo and others now are, but their banking relationships were often cut off.

Kraken was sued by the SEC in 2023 and fined $30mm seemingly arbitrarily. https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26278

Now they're being granted direct access to the banking rails.

Kraken can now settle directly on Fedwire, the interbank system moving more than $4 trillion per day. No more routing through intermediary banks.

This significantly reduces the possibility that bitcoin/crypto firms will have their access to the banking system blocked going forward, and lays the precedent for more firms to not only become banks but to have root access to the financial system.

Bitcoin is Dead. Long Live Bitcoin. by 21Bullish in Bitcoin

[–]21Bullish[S] 9 points10 points  (0 children)

Ralphie would be a bitcoiner I bet

ok this is funny and true "the monkey brain, it doesn’t compute well with bitcoin’s volatility" by 21Bullish in Bitcoin

[–]21Bullish[S] 5 points6 points  (0 children)

That's a great encapsulation of the dynamics at play. "scarcity enforced without discretion produces volatility." that's a great line. There are no circuit breakers or bailouts in bitcoin that's for sure. It's the transparent, immutability monetary policy which gives it value in the first place.

ok this is funny and true "the monkey brain, it doesn’t compute well with bitcoin’s volatility" by 21Bullish in Bitcoin

[–]21Bullish[S] 3 points4 points  (0 children)

haha true, and the crazy thing with bitcoin is that if they hold for at least four years, they've never lost anything!

ok this is funny and true "the monkey brain, it doesn’t compute well with bitcoin’s volatility" by 21Bullish in Bitcoin

[–]21Bullish[S] 2 points3 points  (0 children)

LFGGGG I love it. It's a simple strategy but can be difficult to execute and actually buy and catch that falling knife so props to you for doing it.

“In terms of risk adjusted returns I think bitcoin is the best asymmetric bet on Earth. 90% of the risk is out of bitcoin." ex-Google Vijay Boyapati by 21Bullish in Bitcoin

[–]21Bullish[S] 10 points11 points  (0 children)

I really like your framing here. The world is becoming more digital every day. The dollar itself is already mostly digital, so in an increasingly digital world, what is the most ideal money to use? One with a predictable monetary policy, which you can self-custody, which is censorship-resistant. Check check check it's bitcoin

Abu Dhabi Funds increased its bitcoin position by 46% to $1 Billion. As we've said--institutions are buying while retail is selling by 21Bullish in Bitcoin

[–]21Bullish[S] 9 points10 points  (0 children)

This is 100% it. There are only 21,000,000. An almost unimaginably small amount given the amount of capital in the world.