Wishing you all a day of peace today as we remember the ultimate sacrifice for our sins.
Christ died on the cross for you, and for me - and He will rise again.
God loves you, gm.
Day 19 of 20 on the road. It has been an amazing trip.
A few additional take-aways to share:
1) ETF Flows Will Continue for Years: A good question to ask about the new bitcoin ETFs is whether the incredible inflows we’ve seen in the first two months represent a one-time surge or are indicative of long-term sustained demand.
After my time on the road, I’m convinced that the latter is the case. That's because there is a massive dispersion in the pace of adoption of bitcoin ETFs. I met financial advisors who have already allocated 3% for all their clients and others who haven’t started thinking about it. I spoke with national account platforms that are approving bitcoin ETFs this month and others that are eyeing mid-2025.
The truth is, most professional investors still cannot buy bitcoin ETFs. That will change through a series of 100+ individual due diligence processes over the next two years.
Inflows into the gold ETFs built year-after-year for their first 7 years n the market. I suspect the bitcoin ETF ramp will be shorter, but it will still take years.
2) Investor Demand in the UK Is Behind the US: I spent four days in London at the @blockworksDAS summit. It was a great event with early-stage bull market vibes. I left feeling inspired by the energy and quality of the developer and institutional trading communities surrounding bitcoin.
But end-investor demand is still nascent. In the US, the ETF has created a sea change, with billions of investor capital moving into the space. Not so in the UK, where the FCA is still broadly aligned against crypto. It’s hard to believe it, but the UK looks longingly at the “progressive” regulatory stance in the US.
3) 3% is the New 1%: I’ve been speaking with professional investors about bitcoin since 2018. For the past six years, the discussion has mostly focused on a 1% allocation. That’s the most that most investors would think about.
Boy has that changed. Almost every investor I’ve spoken with has talked about a 3%+ allocation.
The primary reason imho is that the launch of ETFs has de-risked the downside of bitcoin. Before, people were worried bitcoin could go to zero. In that world, a 1% allocation is all you can stomach. But if “going to zero” is off the table, 3% or 5% starts to make more sense.
True institutional investors (pensions, endowments, etc.) will still eye sub 1% allocations, but for the wealth market, 3%+ is the new new thing.
More to come after I wrap up my trip tomorrow.
Selling my entire bag of $ROOST and here's why
- Went into the TG, and community members can't drop Tweets to raid
- There are some plebs in the chat acting like they are better than everyone, and talking down to the community
- Said plebs reported me, and I got banned
MEMES ARE NOT FORTUNE 500 COMPANIES
IF YOU RUN YOUR MEME LIKE THIS YOU WILL FAIL
I'll scale out slowly
Bearish af unless this behavior is changed
@RoostCoin