20190925-Bitcoin Ben-BTC's Biggest Day Ever: BAKKT


Bitcoin Ben （BTC’s biggest day ever!）:

-For the BAKKT project, ICE bought a custody company that holds BTC, BCH, ETH n LTC.

-All this money that are pouring into the financial market, they can’t let it go to the physical commodities like corn, oil, silver…. Because that will cause inflation that will affect ordinary people.

-They can’t allow the inflation to go into the silver market, maybe gold market.   The high price in silver will destroy the cell phone market, pharmaceutical, electronic and other industries…..

-Not into oil, that would destroy the transportation industry.   Not into corn, that would wipe out the agriculture industry.

-They need the inflation to go into a commodity (BTC) that is spendable and transaction-capable, as the dollar value is inflated away.   They don’t want to affect the physical commodities if they can help it.

-The purpose of the crypto currencies ultimately are to absorb fiat.   For example, in Venezuela, the legal crypto currency are Petro, LTC, and BTC, because they are decentralized.

-They are going to grow the BTC price using the derivatives.  
-The liquidity that Fed injected the system (from the Repo market) is going thru the ICE that settles derivatives and then eventually flow into BAKKT to buy cryptos.

-Ledger X proposed a similar platform as BAKKT but was rejected by SEC a few weeks ago.  Why?  Because it was not the right one that they wanted.

-Somebody asked him :   『Do you think Big Boy creating a bottom now?』

Ben said they have. 

-In Dec 2017, CBOE launched the BTC futures that resolves in USD.  The purpose was 1. to drop the value of BTC.   They were not ready and they needed to drop the BTC price to get the market under control.  2.  to test the adoption rate of cryptos.    How quickly the public would adopt the cryptos?

-2018 to now, they have been trying to keep the crypto prices down, so they could buy them cheap over-the-counter.

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