BOMBSHELL Report Exposes The Next El Salvador?
Summary
TLDRThe video discusses the growing awareness and adoption of Bitcoin in Singapore, with a significant number of people planning to invest more in Bitcoin despite its volatility. It highlights a recent survey showing 48% of Singaporeans intend to double down on Bitcoin in the next 12 months and 55% prefer direct investment in Bitcoin over ETFs. The video also draws parallels between Singapore's economic rise and the potential for El Salvador to follow a similar path, both in terms of economic policy and Bitcoin adoption. The speaker emphasizes the importance of self-custody of Bitcoin and the potential impact of Bitcoin ETFs on the market.
Takeaways
- 📈 Growing awareness of ETFs in Singapore, with 51% of people being aware and 48% planning to add more Bitcoin this year.
- 💡 39% of people in Singapore view Bitcoin more favorably, indicating a positive sentiment towards cryptocurrencies.
- 🚀 48% of Singaporeans plan to double down on Bitcoin investments in the next 12 months despite economic challenges.
- 💰 Singapore's rapid economic growth is highlighted by its GDP per capita, rising from a flatline between 1870 and 1970 to a parabolic increase.
- 🏦 Singapore's Sovereign wealth fund is one of the largest in the world, at $545 billion, reflecting the country's wealth and economic success.
- 🌏 Singapore's high GDP per capita places it second on the global list, behind Luxembourg, and ahead of most Western nations and wealthy Middle Eastern countries.
- 📊 The historical Southeast Asia currency crisis in 1997 is noted as a reason for the region's cautious approach to centralized financial entities.
- 🔄 55% of Singaporeans prefer investing directly in Bitcoin rather than through an ETF, showing a distrust in centralized financial products.
- 🌐 The rise of Bitcoin and cryptocurrency adoption in Southeast Asia, including Singapore, is highlighted as a significant trend.
- 🔍 The comparison between Singapore's economic policies and El Salvador's adoption of Bitcoin as legal tender is explored, drawing parallels between the two nations' approaches to financial innovation.
Q & A
What is the significance of the growing awareness of ETFs in the context of the script?
-The growing awareness of ETFs is significant as it indicates a shift in investment behavior and a potential increase in the adoption of Bitcoin in Singapore, with 51% of people being aware of the ETF and 48% planning to add more Bitcoin to their investments.
How has the Bitcoin ETF influenced the perception and adoption of Bitcoin in Singapore?
-The Bitcoin ETF has been a game changer for Singapore, as it has contributed to the increased adoption of Bitcoin, with 48% of surveyed individuals planning to invest more in Bitcoin and 55% preferring to invest directly in Bitcoin over an ETF.
What historical event is referenced in the script that impacted the trust in centralized entities in Southeast Asia?
-The Southeast Asian currency crisis of 1997 is referenced as a significant event that led to a loss of trust in centralized entities, which may explain why Singaporeans show a preference for direct Bitcoin investment over ETFs.
What is the significance of Singapore's GDP per capita in relation to its Bitcoin adoption?
-Singapore's high GDP per capita, ranking second in the world, indicates a high level of economic development and wealth. This economic status may contribute to the country's significant interest and adoption of Bitcoin, as people are more likely to invest in diverse assets, including cryptocurrencies.
How does the script relate the rise of Singapore to its current Bitcoin adoption?
-The script suggests that Singapore's rapid economic rise, from being one of the poorest to one of the richest countries, has created an environment where innovation and new financial technologies are embraced. This context has made Singapore particularly receptive to adopting Bitcoin.
What is the role of Lee Kuan Yew in Singapore's development and how does it compare to El Salvador's approach to Bitcoin?
-Lee Kuan Yew played a crucial role in transforming Singapore into an exporting country with business-friendly policies, zero tolerance for corruption, and a focus on public education. His leadership is compared to El Salvador's President Bukele, who also aims to innovate and root out corruption, albeit through different means, including the adoption of Bitcoin.
How does the script suggest the broader significance of Bitcoin adoption in Southeast Asia?
-The script suggests that Bitcoin adoption in Southeast Asia is not limited to Singapore but is a region-wide phenomenon, with countries like Hong Kong, the Philippines, and Indonesia showing high interest and adoption rates. This regional trend could have significant implications for the global cryptocurrency market.
What is the stance of the Monetary Authority of Singapore on Bitcoin?
-The Monetary Authority of Singapore has a cautious stance on Bitcoin, describing it as a speculative and volatile asset. They have not approved Bitcoin ETFs for retail investors, advising them to be wary of the risks associated with investing in Bitcoin.
What does the script imply about the future of Bitcoin in Singapore and the region?
-The script implies that Bitcoin's future in Singapore and the region is promising due to the high level of interest and adoption. Despite some regulatory challenges and warnings about volatility, the trend suggests that Bitcoin could continue to grow in popularity and become a more integral part of the financial landscape.
What is the main message the speaker is trying to convey about Bitcoin and investment in the script?
-The main message the speaker is trying to convey is the importance of taking custody of one's Bitcoin rather than relying on ETFs or exchanges. The speaker advocates for self-custody as a way to truly own and control one's Bitcoin, which is seen as a safer and more beneficial approach to investing in the cryptocurrency.
Outlines
📈 Singapore's Bitcoin ETFs Impact and GDP Growth
This paragraph discusses the influence of Bitcoin ETFs in Singapore and how this correlates with the country's economic growth. It highlights a survey showing that 48% of Singaporeans plan to invest more in Bitcoin and how this sentiment is tied to the nation's rapid economic rise. The speaker references Singapore's flat GDP per capita from 1870 to 1970, followed by a dramatic increase, positioning Singapore as one of the wealthiest nations. The adoption of Bitcoin is seen as a significant trend in this economic narrative, with the speaker drawing parallels to El Salvador's Bitcoin adoption and its impact on the country's economy.
🌐 Singapore's Sovereign Wealth Fund and Regional Bitcoin Adoption
The focus of this paragraph is on Singapore's Sovereign Wealth Fund and its significant size compared to other nations, as well as the broader context of Bitcoin adoption in Southeast Asia. The speaker emphasizes Singapore's fund, which stands at $545 billion, and contrasts it with the GDP of El Salvador. The narrative then expands to include other Southeast Asian countries, noting their high Bitcoin adoption rates and the region's potential to become a cryptocurrency finance hub. The speaker also mentions the challenges faced by Singapore and Hong Kong in this endeavor, despite their ambitions.
📊 Historical Economic Shifts and Bitcoin's Role in Southeast Asia
This paragraph delves into the historical economic shifts in Southeast Asia, particularly focusing on the currency crisis of the late 1990s and its effects on the region's trust in centralized financial systems. The speaker hypothesizes that this historical context may contribute to the current preference for decentralized finance and Bitcoin in Singapore. The discussion also touches on the leadership of Lee Kuan Yew and his role in transforming Singapore's economy, drawing comparisons with current leaders who are adopting Bitcoin-friendly policies.
🚀 Singapore's Bitcoin Adoption and Its Significance for Southeast Asia
The speaker continues to explore the bullish trends in Singapore's Bitcoin adoption, citing specific statistics from the survey, such as the percentage of Singaporeans who have heard of Bitcoin and those who prefer it over other digital assets. The paragraph also discusses the broader implications for Southeast Asia, with Hong Kong's plans for Bitcoin spot ETFs and China's support for Hong Kong's crypto ambitions. The speaker highlights the region's high Bitcoin adoption rates and the competitive dynamic between Southeast Asian countries in the cryptocurrency space.
🤔 Top-Down vs Bottom-Up Bitcoin Adoption in Singapore
This paragraph presents a contrast between the top-down and bottom-up approaches to Bitcoin adoption in Singapore. While there is significant retail-level adoption with individuals investing in Bitcoin, the Singapore Monetary Authority has expressed caution, discouraging retail investors from investing in Bitcoin ETFs due to its volatile nature. The speaker also discusses the potential for Bitcoin ETFs to become a Trojan Horse for wider Bitcoin adoption and the importance of self-custody in Bitcoin assets.
🎉 Bitcoin ETFs and the Future of Bitcoin Adoption
In the final paragraph, the speaker reflects on the potential for Bitcoin to reach new all-time highs, the upcoming Bitcoin halving, and the community's optimism about the future of Bitcoin. The discussion includes the risks associated with Bitcoin spot ETFs and the importance of taking custody of one's Bitcoin. The speaker promotes the idea of self-custody and offers assistance for those looking to take their Bitcoin holdings off exchanges and into more secure, personal control.
Mindmap
Keywords
💡ETFs
💡Bitcoin
💡GDP per capita
💡Sovereign wealth fund
💡Inflation
💡Lee Kuan Yew
💡Cryptocurrency
💡Bitcoin halving
💡Game Theory
💡Self-custody
Highlights
Growing awareness of ETFs with 51% of people being aware of the ETF.
Bitcoin ETFs have been a game changer for Singapore, with 48% of people surveyed planning to add more Bitcoin this year.
39% of people view Bitcoin more favorably, indicating a positive shift in perception.
48% of Singaporeans plan to double down on Bitcoin in the next 12 months despite economic challenges.
A third of Singaporeans plan to hold or add Bitcoin in the face of high inflation and living costs.
Bitcoin adoption in Singapore is rapidly increasing, as shown by the all-time high Bitcoin prices in the country.
The GDP per capita of Singapore has seen a significant increase from 1870 to 1970, making it one of the richest countries in the world.
Singapore's GDP per capita ranks second in the world at $127,000, showcasing its economic success.
Singapore has one of the world's largest Sovereign wealth funds at $545 billion, reflecting its economic strength.
82% of Singaporeans have heard of Bitcoin, and 73% of crypto investors hold Bitcoin.
60% of Singaporeans view Bitcoin favorably, and 55% prefer Bitcoin over other digital assets.
52% of Singaporeans are primarily investing in crypto to diversify their investment portfolio.
61% of experienced investors in Singapore have been in the market for more than five years, showing resilience through market volatility.
The Southeast Asian currency crisis in 1997 led to a significant devaluation of currencies in the region, influencing the current distrust of centralized entities.
Singapore's rise to wealth was led by Lee Kuan Yew, who implemented free trade and business-friendly policies, cracking down on corruption and promoting urban reforms.
El Salvador's adoption of Bitcoin as legal tender was influenced by grassroots movements, similar to the bottom-up adoption seen in Singapore.
Singapore and Hong Kong are competing to become the cryptocurrency finance capital of Asia, with both implementing friendly regulations and creating new funds.
Southeast Asia has some of the highest Bitcoin adoption rates in the world, with countries like the Philippines, Vietnam, and Indonesia showing significant interest.
The Monetary Authority of Singapore has warned against Bitcoin's volatility and speculative nature, despite the country's high adoption rates.
The Bitcoin ETFs are not approved for retail investors in Singapore, showing a conflicting message between top-down regulations and bottom-up adoption.
Transcripts
and this sentiment is reflected in the
growing awareness of ETFs with 51% of
the people actually uh aware of the ETF
being approved now that's cool and
that's cute but that's not the data I'm
interested in today so we can see here
that the Bitcoin ETFs have been a game
changer for Singapore with 48% of the
people surveyed going to add more
Bitcoin this year so they're going to be
buying some more so we can see this
survey found that 39 % of people view
Bitcoin more favorably we can see 48%
will double down in the next 12 months
and we can also see that a third of
singaporeans plan to hold or add Bitcoin
uh in the face of high inflation and
high living costs in Singapore now to
kind of prove my point that Bitcoin is
being adopted very rapidly in Singapore
we can see this chart here Bitcoin in
Singapore is at an alltime high okay now
why am I so fascinated about this survey
of Singapore well I think this chart
here explains everything you need to
know so this is the GDP per capita of
Singapore and you can see it's pretty
much Flatline between 1870 and 1970 it
didn't go anywhere and then it went
absolutely parabolic and Singapore Rose
from being one of the poorest count
countries in the world to be literally
one of the richest countries in the
world now it's going to have to do with
actually something that bouqu is doing
in our Salvador but first I want to show
you a couple more charts that explain
the rise of Singapore okay so we can see
that they're a tiny country only 5
million people live in Singapore some of
you guys might be thinking Luke why are
you even making a video on Singapore if
they're so small well again it has to do
with this here it has to do with their
GDP per capita and not a Google ad we
could see that this is the GDP per
capita of countries all around the world
and we can see that Luxembourg is the
highest at
$142,000 per capita and look at number
two on that list Singapore
$127,000 per year uh absolutely
incredible and look they are the only
Southeast Asian country in the top
what's this in the top 30 I still
haven't seen another country from
Southeast Asia South Korea is number 30
on the list which is interesting but we
can see you know uh Singapore has a GDP
above most western Nations and the rich
Middle Eastern countries like the UAE
and Qatar okay they are an
extraordinarily rich country okay and it
is no surprise that Singapore has one of
the world's largest Sovereign wealth
funds so we can see here here by this
chart that this is actually again from
one of my favorite websites the visual
capitalist and it's showing the largest
Sovereign wealth funds so we can see
Norway 1.3 trillion uh it's also
comparing a Vanguard Market indet in
index here at 1.3 trillion China's
Sovereign wealth fund 1.2 trillion then
we have a big drop off and we have
Kuwait 700 billion Abu Dhabi 650 billion
Hong Kong 581 billion and then we have
the government of Singapore and their
Sovereign wealth fund which comes in at
a whopping
$545 billion okay again to put that
number into some perspective for you um
El Salvador's GDP is I think it's under
$50 billion per year you know what you
guys hate it when I get my statistics
wrong so we're going to be doing it live
I'm going to quickly show you what El
Salvador's GDP is maybe it's like 20
billion okay it's 32 2.4 billion okay so
El Salvador's GDP 32.5 billion but when
we have a look at the Sovereign wealth
fund of
Singapore it's 545 billion so it's more
than what is that about 15 times larger
it's about 14 times larger their
Sovereign wealth fund is 14 times larger
than the country of El Salvador's entire
GDP so this is why I think it is a
massive deal
if we're seeing lots of bottomup
Grassroots adoption in Singapore because
we all know why El Salvador made Bitcoin
legal tender it's because we saw that
bottom up Grassroots of Doan which began
in like 2018 with Bitcoin Beach that
project was created four years before
President B made uh a Bitcoin legal
tender in El Salvador that's not the
only comparison we're going to make to
El Salvador but I want to talk a little
bit more about what makes uh Singapore
special and a little bit more about this
survey because it was an absolute game
Cher okay we can actually
see uh that 48% of investors are going
to double down and we can actually see
that 55% of singaporeans prefer
investing directly in Bitcoin rather
than an ETF okay so these guys are kind
of aware that hey look we don't like to
actually trust these centralized
entities
Singapore gets it why is that well maybe
that's because of the southeast Asia
currency crisis U so I'm going to show
you guys a little chart here I might
share my screen it's funny I was I was
running a little bit late for today's
video so I uh I didn't have this one
prepped but I've just Googled it I'm
going to show you what happened to the
currencies of Southeast Asia in
1997 okay you can see a lot of them got
absolutely decimated this is looking at
the GDP but I'd prefer to look at the uh
currency rates because they they didn't
see hyperinflation um but they saw
significant let's see if Google gives me
something if I search for significant
inflation they saw very high inflation
and it kind of reminds me of what
happened to The Latin American countries
in the 1980s when they saw a
hyperinflation southeast Asia saw this
in the late
1990s okay okay I can't find I can't
find the exact charts uh that I want to
show you guys but we can uh maybe here
it is collapsing currencies so most of
these currencies lost what half of their
value in a couple of years in 1997 so
you could see they have the Thailand
currency Korea Indonesia Philippines
Malaysia Taiwan and Singapore they're
all the currencies they're looking at on
this chart here it's a two-year chart
and have a look at the collapse in value
just in the space of literally two years
okay it happened super quickly but this
is essentially a very very very big
currency collapse this is one of the
reasons why southeast Asia does not
trust centralized well that's actually
funny even as I'm saying that I know
that's incorrect because southeast Asia
probably has the most government control
but I think it's interesting that in
this recent survey they don't trust ETFs
why I don't know because America seems
to be trusting these ETF rappers a lot
more than South Korea okay so again
let's go back to the that was just a
random tangent that I didn't have uh
planned for today's video again I
apologize I can't help myself on the
live streams uh but we can see here by
the numbers in this survey 82% of
singaporeans have heard of Bitcoin 73%
of quote unquote crypto investors hold
Bitcoin that's actually a pretty good
number to be honest 73% of all people
buying digital stuff by Bitcoin so
that's great uh 60% of singaporeans view
Bitcoin favorably 55% prefer Bitcoin
over other digital assets again that's
not the worst you know hit rate so to
say I know it's you know people are
always going to gamble people are always
going to be buying you know
XYZ crap coin you know all of that kind
of stuff um which is very very
interesting and we can see here that uh
again excuse the word the dirty word
crypto but 52% of singaporeans are
primarily investing crypto to diversify
their in Investment Portfolio okay
interesting
again uh 61% who are experienced
investors have been in the market for
more than five years okay so that means
they've huddled through all of the
volatility we
saw oh that's a good burp live on air
I'm sorry guys uh 61% of people have
huddled through all of the volatility in
2020 and 2021 so again this is a massive
survey this was incredibly bullish the
only other survey that I've seen in the
world that wasn't as bullish as uh this
one was the one that came out of turkey
I actually don't think we've covered
that one on the channel yet maybe I'll
do a live stream on that if something
interesting comes out of turkey in the
in the near future but essentially out
of that survey that c coin ran like over
50% of people in Turkey uh had bought
something whether it was crypto or you
know Bitcoin the the dominant King in
the digital realm so again that was a
massive survey it was incredibly bullish
for turkey but I haven't seen a survey
as bullish as that until now until today
until I ran into this Singapore survey
which was absolutely fascinating um so
again how does El Salvador relate to
Singapore well firstly let's kind of
Explain how and who uh actually LED
Singapore through this massive rise of
wealth that was created in the country
again look at how quickly they went from
a country that had an average GDP per
capita of like 3,000
in 1960 to literally what what is it
today it's
$120,000 per capita it's absolutely
exponential rise and I think a lot of it
is due to this man here called Lee Quan
Yu okay um most people haven't heard of
him especially in the west I'm myself
included until a few years ago but we
can see here uh he was a British
educated lawyer and he took over the
government and he was famous for
actually creating a government that was
widely regarded as farsighted honest and
efficient okay which is again very
interesting the result was a tidy
law-abiding country but one that
visitors often described as regimented
and sterile and dull okay so again
there's a little bit too much top- down
control but what he was able to do in
the short time that he was uh leader was
completely transformed the country okay
so uh we can actually C uh that he was
the president as Singapore announced its
separation from Malaysia in
1965 as a result Singapore gained full
Independence the only country in modern
history to do so against its will Mr Lee
said about building Singapore adopting
free trade and business friendly
policies he cracked down hard on
corruption launched Urban reforms and
bulldozed uh slums and enforced multi
culturalism in an effort to create a
uniquely Singapore Singaporean identity
okay so again we're not going to get
into the whole history of Singapore
because let's be honest I'm not an
expert on it um but again he introduced
you know free trade in the country he
actually turned Singapore into an
exporting country and he opened up the
borders so Capital flooded into
Singapore and this led an enormous rise
in Singapore doesn't that sound a little
bit similar to what bu is doing with El
Salvador again both ministers Lee Kuan
Yu and bu have both been criticized for
being a little bit heavy-handed but
sometimes as you can see if you have a
leader who has a good vision for the
country you know sometimes a little bit
of stern leadership can be a good thing
okay we're not going to get into the
debate about why democracy uh is a
shitcoin today and why maybe monarchies
could be better than democracies that's
a rabbit hole that's going to trigger
enough of you guys so we might leave a
whole separate video on that one but I
want to talk a little bit more about El
Salvador and the similarities to
Singapore so you can see this article
here from Bitcoin magazine can El
Salvador duplicate Singapore's road to
success a look at the similarities
between El Salvador's policies plans
since B was elected in 2019 comparing it
with Singapore's leader Lee Quan u in
the 1960s okay so few stories in global
development are as compelling as out of
Singapore a
small city state that moved from the
third world to the first within just a
few decades okay so we can see that this
article kind of highlights a lot of the
things that we just uh kind of talked
about uh the the people's Action Party
under the leadership of Lee kuu was
instrumental in shaping Singapore's
developmental uh trajectory through
pragmatic economic policies stringent
anti-corruption measures and and
Relentless focus on public education the
small city state transformed into a
global economic Powerhouse okay so again
this is massive and this is obviously
very similar to what's happening in El
Salvador okay so we can see here singor
adop uh Singapore adopted a zero zero
tolerance policy towards corruption El
Salvador's political landscape saw a
significant shift with bu bu aims to
also disrupt the status quo primarily
through technological innovation and
attempts to root out corruption okay so
again El Salvador is doing things very
similar to what Singapore is doing and
this is absolutely massive because
Singapore as we've shown is an
incredibly interesting country okay they
have an enormous GDP per capita they are
very rich and as that most recent survey
showed they're very interested in
Bitcoin which again is absolutely huge
for the country now let's move on and I
want to kind of talk about the broader
significance that this means for
Southeast Asia now I'm not going to
rehash everything we talked about in
yesterday's live stream but for those
who missed it let's not forget okay
we're not just talking about Singapore
we are talking about all of Southeast
Asia Hong Kong is now likely to allow an
in-kind creation for its Bitcoin spot
ETFs that are going to be launching uh
literally this quarter we also showed
you this chart here from Bitcoin manga
that showed that Bitcoin have been
moving from the West to the east over
the past couple of months and we also
talked about why China and Beijing is
backing Hong Kong's Ambitions to become
a crypto hub for the world okay again
we're not going to rehash everything we
touched on on in uh yesterday's live
stream I'll send you guys over there if
you want to watch it but I think this
survey was easily one of the most
bullish surveys that I've seen in a very
very very long time we're going to go
through a couple more quick data points
but I want to obviously hit the live
chat as you guys know I love to do uh so
we can see there's somebody uh 5,000%
gain in four years uh that must be the
Bitcoin price in turkey that looks like
a Turkish flag coming from my friend
deino we've got my man Johnny minus in
the chat good evening Johnny uh glad to
see you in the live chat once again uh
we've got decentralized data love that
handle that's a great name wish I could
think of something as creative as that
what's up from ncusa hello hello um
wonder what time it is in uh USA I don't
know if you guys have noticed but it's
uh it's 11:30 over here in Madrid that's
probably why I'm a little bit slower
with my words than usual sorry for all
the mistakes I've been making tonight
Den last is in Denmark Bitcoin will go
mainstream the the world is Awakening
could not agree more L very based very
based the delusion of democracy has
always been a shitcoin tend to agrie you
there
um and then we saw when I saw the king
last year in Denmark I just shouted
Bitcoin the king's driver promised me to
mention Bitcoin to her that's brilliant
I want to hear more from that story Den
last that's absolutely brilliant now
let's uh 331 in Los Angeles thank you
Elaine good to see you in the chat again
um now let's talk a little bit more
about this survey uh because it was
absolutely massive it's really big you
guys can see how how far I'm scrolling
here I'm not going to go through all of
it um but again they uh they did they
talk about the price of Singaporean
dollars are they didn't but I already
showed you guys the chart uh Bitcoin
Bitcoin chart in Singapore is absolutely
parabolic all-time highs currently at
93,000 Singaporean what are they sgds
Singapore dollars I'm assuming they're
dollars um so they're at what uh what's
that 86,000 alltime high was 83,000 so
they're good 5% above their all-time
high which is incredibly bullish showing
that people are definitely buying
Bitcoin in the country which is
absolutely massive and it's it looks as
if a lot of the people were actually
aware of what the Bitcoin harving is
okay again this is massive because a lot
of people have no idea what the Bitcoin
Haring is okay and we've seen it all
over the mainstream media for the first
time in a long time we're actually
watching some significant press about
what the harving is over on CNBC
recently in Australia last week I saw
the national news talking about the
Haring but it looks as if the
Singaporean people are way ahead of the
pack okay they've adopted Bitcoin
they're aware of what the harving is
it's incredibly bullish to see what's
going on in the country uh greetings
from Slovenia uh g g uh 3:32 Arizona
time okay very interesting uh it's a
little bit earlier than I thought um so
guys let's uh talk a little bit more
about Game Theory you guys know I love
to talk about Game Theory and the fact
that Singapore has a sovereign wealth
fund of $545 billion is massive
something else that's really interesting
about this Singapore story is we have
massive adoption uh by the bottoms up
okay the retail guy is adopting Bitcoin
okay these these numbers here are very
difficult to argue with okay we see uh
48% will double down on Bitcoin in the
next 12 months 50% have owned some sort
of Bitcoin in the future uh sorry
they've owned Bitcoin or crypto okay
it's massive but coming from the top
down we're seeing some uh conflicting
messages so to say so we can see here
Bitcoin ETFs are approved for are not
approved for retail investors in
Singapore okay that's really interesting
and they've also come out and kind of uh
reaffirm their negative stance okay we
can see that the monetary authority of
Singapore a week after the US gave the
green light for uh ETFs came out and
said look Bitcoin is very volatile it's
very speculative you have to stay away
from Bitcoin it's it's too dangerous
it's way too dangerous now they haven't
banned it but you can see that the uh
the Singapore monetary Authority called
it a speculative volatile asset very
very interesting
um and when you scroll down right now we
can see given this spot Bitcoin ETFs are
not approved by the uh Singapore
monetary Authority uh for retail
investors okay which is interesting but
we do know that there are other people
in Singapore who are a little bit more
optimistic on it we can see from this
article here that's a more recent one
this is in February 2024 the article I
just showed you I believe it was a
little bit earlier let me double check
so this was January 2024 so this was two
months ago and then we saw this more
recent article come out a month later
where it says Singapore and Hong Kong's
crypto goals are on track despite
Challenge from the US Bitcoin spot ETFs
so we can see players are still keen on
Asia because of friendlier regulations
and new funds being created in the
region okay which is again very very
interesting Singapore and Hong Kong are
facing challenges in their bid to become
Asia's cryptocurrency Finance Capital
following the debut of Bitcoin ETFs in
the US so again it's this race there's
this race between Hong Kong and
Singapore and many other Southeast Asian
players to get into the Bitcoin space
okay again something else that I forgot
to bring to today's live stream was
showing you a chart that uh southeast
Asia actually has some of the highest
Bitcoin adoptions in the world it
actually does have the highest Bitcoin
adoption rates by the world if you
actually look at it comparing it to
other regions okay uh from the top of my
head you had a number of different
countries like the Philippines and uh
Vietnam and obviously countries like
Laos and Bhutan all in big on bitcoin I
really hope I can find the chart for you
guys live I can't find the exact chart I
want to show you guys um but adoption is
very very very very big in Southeast
Asia uh we know that the uh government
of La is mining Bitcoin uh we know that
the government of Myanmar has adopted
tether as a legal tender we've obviously
talked about the huge adoption in
Singapore today something else uh
obviously Indonesia we've also made
videos in the past about the Indonesian
uh what's his what was his name the
president of West Java which is a region
in Indonesia of 50 million people the
president uh what's his name I forgotten
his name ridwan Camille that's his name
I remember because it's a fun one to say
but he went to the Bitcoin Miami
Conference in 2023 I think trying to
bring Bitcoin miners to Indonesia and
obviously that's interesting because
Indonesia's kind of split on the uh
matter you know some people say
bitcoin's banned in Indonesia but then
you have the governor of West Java 50
million people uh going to the the
Bitcoin Miami Conference saying look
bring your Bitcoin miners to Indonesia
so we have a lot of adoption in
Southeast Asia so again I think this
story of Singapore is more interesting
when we consider the broader adoption in
the region okay the region is absolutely
enormous um would you count India as
southeast Asia um again my geography
skills aren't the best guys I'll tell
you when I'm don't have a clue about
something uh but this is a cool little
chart here uh this is kind of ranking
the Southeast Asian countries by quote
unquote crypto interest and we can
actually oh it's a terrible chart I feel
ashamed even increasing the size of that
for you guys because it's so disgusting
that's very blurry and very bad but
again you're just you're just going to
have to trust me on that one uh please
don't verify uh you know southeast Asia
does have very high Bitcoin adoptions
okay now again this is all about this is
all interesting when we start talking
about Game Theory um we have Fair alert
likes the Bitcoin manga charts uh who
who else believes we might see a new
alltime high this long Easter weekend as
Adam back asserts potentially it's
certainly a potential and Adam back
still believes we're going to hit a new
Bitcoin alltime high before the Harve in
we have about 20 days left until the
Bitcoin Harve in so I want to hear from
you guys do you think we're going to do
it I'm not so sure I'm bullish but for
Bitcoin to
uh hit 100K in the next 20 days that's a
big ask and again you guys know we don't
do short-term price predictions here on
the channel we're not about uh price
predictions here on the channel what
we're about is taking custody of our
Bitcoin okay not your keys not your
coins you know we talk a lot about the
Bitcoin ETFs here on the channel
everybody's talking about the Bitcoin
ETFs but nobody's talking about the
risks of the Bitcoin spot ETF so again
that's what we're going to try to do
okay uh if you got Bitcoin in an ETF
it's not yours if you Bitcoin on
Exchange it's not yours if you need help
taking custody of your Bitcoin again I'm
going to continue plugging it you can
book a free call with myself and we can
discuss ways for you can get your
Bitcoin off an exchange and we can even
uh discuss ways for you to uh level up
your custody and just simply maybe level
up from a single Sig Bitcoin wallet to a
multi- signature uh Bitcoin wallet um
again you can book a call and see
whether I have a service that can
actually help you out okay that's what
we're doing at the Bitcoin advisor we're
trying to drain the exchanges so that
people don't have to rely on ETFs okay
um It's just sad that investors are
increasingly optimistic about Bitcoin
ETFs we hope that that's kind of the
Trojan Horse for uh Bitcoin adoption and
uh you know all of this pent up demand
uh about the ETFs and hype about the
ETFs will actually convert into a lot of
self- custody bitcoiners that's what we
want at the end end of the day uh so
Adam back has a bet that 100K Bitcoin at
harving 100% correct Phil um the Kil
friend's making fun of me in the chat um
that's an inside joke I'll probably
share with you guys one day uh we can
see okay I think I've smashed all of the
comments in the live stream today
allight haer was here before we started
I'm sorry I was late um I was uh it's 11
it's 11:41 p.m. over here in Madrid um
so I was running a little bit late I
apologize about that we got Ms bit oh
they're in the chat Den lass in the chat
all right guys I think I'm going to cut
this one here if you enjoyed today's
video um and you didn't see the live
stream we did talking about China and
the uh who who else did we talk about
yesterday we talked about Hong Kong's
Bitcoin ETFs because I got asked by
someone to run the numbers and see how
much Capital can actually come in
through the Hong Kong Bitcoin ETF you
can see uh this is the live stream here
that we did yesterday so you can go
check that one out if you're interested
and uh with all that said guys I think
that's all I've got for you guys uh I
might leave you there and uh wish you a
happy Easter weekend is it Easter I I
honestly don't know I think it might be
because all the shops in El Salvador are
closed I'm trying to get some packages
delivered and they're not coming so
anyway happy Easter thank you for tuning
in um absolutely love these live streams
we're going to continue doing them every
single day until the Bull Run is over
okay and if I can't do a live stream uh
we're going to be releasing a video so
again we need to fight the crypto scam
uh produce Pam says smash the like
button if you enjoyed it yes we can do
that uh Den lass has a long Friday today
Saturday died for our sind I don't know
what a SN is sorry um I don't understand
that one okay Easter Sunday all right
guys have a great day um I'll see you
all
tomorrow
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