Now. According to Bloomberg, bank of America’s and Wells Fargo’s brokerage units have begun offering access to exchange traded funds that directly invest in bitcoin. Now, why is this important? First off, like I said before, massive banks, they sat out of the hype. Before the ETF was put in, authorized by the government, by the SEC, they sat back and waited. They waited till everything was ready. It’s done. And now they’re diving in.

They have access to tons and tons of clients. Again, this news coming prior to the bitcoin happening in the spring, there is going to be, in my opinion, a massive frenzy moving into crypto. Now, it says here that the move by these banks reflects the growing interest among investors gaining exposure to bitcoin. Merrill lynch and Wells Fargo are providing access to approved bitcoin etfs to select wealth management clients with brokerage accounts upon request.

And this came from Bitcoin magazine. This development comes after the spot. Bitcoin ETF had a record setting week in the US with inflows of BlackRock’s ETF hitting $612,000,000 yesterday. About two days ago, actually. The decision by Merrill lynch and Wells Fargo to offer these etfs demonstrates their recognition of increasing demand for bitcoin investment options among their affluent clientele. By providing access to bitcoin etfs, these banks are catering to the evolving investment preferences of their clients, who are seeking opportunities to diversify their portfolios and capitalize on the growth potential of bitcoin.

The availability of bitcoin exposure through mainstream financial institutions like Merrill lynch and Wells Fargo further legitimizes the bitcoin market and underscores its integration into traditional finance. But as more financial intermediaries open up to bitcoin, some old school money managers refuse to join the frenzy. Vanguard is among the handful of firms holding off, saying in a January 24 blog post that crypto is more of a speculation than an investment.

Sure, whatever. Since then, bitcoin is up 60%, outperforming such bubble stocks as Nvidia and SMCI. So call it what you want, but investors will only care about one thing, what profits they can generate. And so far, in 2024, crypto is the best performing asset by a huge margin. Look, I’ve seen it, too. So many people are like staunch gold bugs. Staunch silver stackers only stocks. That’s totally fine.

Long time ago, I decided to dive in. It took me about 2 hours to figure out what the code was, how it worked, and how it was impossible to recreate a bitcoin. I said, okay, there’s something here in a world where everything can be faked. Paper, gold shares, stock shares, naked shorting, things like that. I said, yeah, this is going to be different. Now, I will say this.

With the evolution of an ETF, banks will be able to build derivatives on top of these etfs. It’s just paper. Okay? They can sit there and they can say, yeah, we have bitcoin in the bank, but there’s a ratio. Okay, I’m telling people that because now we’re in the realm where it will be able to be manipulated. Okay, people can bang their hands up against the wall and scream and yell all they want and say that bitcoin can’t be manipulated.

But once an ETF got involved, yes, now it can. However, with that being said, do I believe that bitcoin will be worth a lot more someday in the future than it is today? Yes. Will I tell you that it’s going to happen tomorrow? No. I will never be able to hit the tops and the bottoms. My past is proof of that. But that darn bitcoin just keeps going up and going into the happening.

I would not want to be betting against it. That’s just my opinion. It’s not financial advice. Look, remember, whenever you hold your crypto, if you’re going to hold it for any length of time and you’re not actively trading it on an exchange, get it off the exchange, get it into some kind of device or paper wallet, whatever you choose. I choose treasure. I’ll put a link down to that.

And always use verified links. It’s very important. You do not want to be prey to a scammer like one of those guys down in the comments section below. Again, remember, I will never ask you for money. I will never invest your money. The ninja doesn’t do that. He has a hard enough time with his own money. All right, with that being said, I thank you so much for watching the economic ninja figure out how to turn this thing off is out.

Bye. .

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