BOMBSHELL Report Exposes The Next El Salvador?

Luke Mikic
30 Mar 202428:55

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

00:00

📈 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.

05:02

🌐 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.

10:03

📊 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.

15:05

🚀 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.

20:07

🤔 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.

25:09

🎉 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

Exchange-Traded Funds (ETFs) are investment funds and exchange-traded products, traded on stock exchanges much like individual stocks. In the context of the video, the focus is on Bitcoin ETFs, which track the price of Bitcoin and allow investors to gain exposure to the digital currency without actually owning or storing it themselves. The script mentions a growing awareness and approval of Bitcoin ETFs in Singapore, indicating a significant shift in the investment landscape towards digital assets.

💡Bitcoin

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. In the video, Bitcoin is presented as an increasingly favored investment option in Singapore, with a significant number of people planning to invest more in it despite market volatility. It is also noted as a preferred choice over traditional ETFs, highlighting a trust in decentralized finance.

💡GDP per capita

GDP per capita, or Gross Domestic Product per capita, is a measure of the total value of goods and services produced within a country, divided by its population. It is an indicator of the average economic output per person and is often used to assess the standard of living in a country. In the video, the presenter uses Singapore's GDP per capita growth to illustrate the country's economic development and rise to wealth, which is relevant to understanding the context for the adoption of Bitcoin and other financial innovations.

💡Sovereign wealth fund

A sovereign wealth fund is a pool of assets owned by a state, usually in foreign currency, held in trust for the benefit of the country's population. These funds are often derived from a country's surplus, the proceeds of privatization, or commodity exports. In the video, the mention of Singapore's Sovereign wealth fund, valued at $545 billion, underscores the country's significant financial resources and economic strength, which may influence its approach to adopting and regulating new financial technologies like Bitcoin.

💡Inflation

Inflation refers to the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling. Central to the video's discussion is how high inflation and living costs in Singapore may be driving residents to seek alternative investments like Bitcoin as a hedge against currency devaluation. Historically, events such as the Southeast Asian currency crisis have also shaped the region's economic landscape and trust in traditional financial systems.

💡Lee Kuan Yew

Lee Kuan Yew was the first Prime Minister of Singapore, serving from 1959 to 1990. He is credited with transforming Singapore into a highly developed country with effective governance and policies that encouraged economic growth and anti-corruption measures. In the video, Lee's leadership is highlighted as a key factor in Singapore's rapid economic rise and its potential to adopt innovative financial technologies like Bitcoin, drawing parallels with El Salvador's adoption of Bitcoin as legal tender under President Nayib Bukele.

💡Cryptocurrency

Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. It is decentralized and operates on technology called blockchain, which is a distributed ledger enforced by a network of computers known as miners. In the video, the term 'crypto' is used to refer to Bitcoin and other digital assets, emphasizing the growing interest and investment in these alternative financial instruments among Singaporeans.

💡Bitcoin halving

Bitcoin halving is the event when the mining reward for adding a new block to the blockchain is halved, reducing the number of new Bitcoins entering the circulation from 6 to 3 coins per block, for example. This event is programmed to occur approximately every four years and is associated with a reduction in the rate of new Bitcoin creation, which can impact the supply and demand dynamics of the cryptocurrency. The video suggests that the Singaporean people are aware of the Bitcoin halving, indicating a level of knowledge and anticipation around this event and its potential effects on Bitcoin's value.

💡Game Theory

Game Theory is a branch of mathematics that studies strategic decision-making, where an individual's success in making choices depends on the choices of others. In the context of the video, it refers to the strategic considerations and potential outcomes of Bitcoin adoption and investment, particularly in relation to the interactions between different market participants, such as retail investors, governments, and financial institutions.

💡Self-custody

Self-custody in the context of cryptocurrencies refers to the practice of individuals holding and managing their own digital assets, rather than storing them on an exchange or with a third party. This approach emphasizes control, security, and the principle of 'not your keys, not your coins,' meaning that anyone who does not control the private keys to their cryptocurrency does not truly own it. The video encourages viewers to take custody of their Bitcoin, highlighting the importance of self-custody in the cryptocurrency ecosystem.

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

play01:00

and this sentiment is reflected in the

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growing awareness of ETFs with 51% of

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the people actually uh aware of the ETF

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being approved now that's cool and

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that's cute but that's not the data I'm

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interested in today so we can see here

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that the Bitcoin ETFs have been a game

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changer for Singapore with 48% of the

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people surveyed going to add more

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Bitcoin this year so they're going to be

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buying some more so we can see this

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survey found that 39 % of people view

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Bitcoin more favorably we can see 48%

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will double down in the next 12 months

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and we can also see that a third of

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singaporeans plan to hold or add Bitcoin

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uh in the face of high inflation and

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high living costs in Singapore now to

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kind of prove my point that Bitcoin is

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being adopted very rapidly in Singapore

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we can see this chart here Bitcoin in

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Singapore is at an alltime high okay now

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why am I so fascinated about this survey

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of Singapore well I think this chart

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here explains everything you need to

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know so this is the GDP per capita of

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Singapore and you can see it's pretty

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much Flatline between 1870 and 1970 it

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didn't go anywhere and then it went

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absolutely parabolic and Singapore Rose

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from being one of the poorest count

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countries in the world to be literally

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one of the richest countries in the

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world now it's going to have to do with

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actually something that bouqu is doing

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in our Salvador but first I want to show

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you a couple more charts that explain

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the rise of Singapore okay so we can see

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that they're a tiny country only 5

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million people live in Singapore some of

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you guys might be thinking Luke why are

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you even making a video on Singapore if

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they're so small well again it has to do

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with this here it has to do with their

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GDP per capita and not a Google ad we

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could see that this is the GDP per

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capita of countries all around the world

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and we can see that Luxembourg is the

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highest at

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$142,000 per capita and look at number

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two on that list Singapore

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$127,000 per year uh absolutely

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incredible and look they are the only

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Southeast Asian country in the top

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what's this in the top 30 I still

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haven't seen another country from

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Southeast Asia South Korea is number 30

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on the list which is interesting but we

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can see you know uh Singapore has a GDP

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above most western Nations and the rich

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Middle Eastern countries like the UAE

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and Qatar okay they are an

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extraordinarily rich country okay and it

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is no surprise that Singapore has one of

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the world's largest Sovereign wealth

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funds so we can see here here by this

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chart that this is actually again from

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one of my favorite websites the visual

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capitalist and it's showing the largest

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Sovereign wealth funds so we can see

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Norway 1.3 trillion uh it's also

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comparing a Vanguard Market indet in

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index here at 1.3 trillion China's

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Sovereign wealth fund 1.2 trillion then

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we have a big drop off and we have

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Kuwait 700 billion Abu Dhabi 650 billion

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Hong Kong 581 billion and then we have

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the government of Singapore and their

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Sovereign wealth fund which comes in at

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a whopping

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$545 billion okay again to put that

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number into some perspective for you um

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El Salvador's GDP is I think it's under

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$50 billion per year you know what you

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guys hate it when I get my statistics

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wrong so we're going to be doing it live

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I'm going to quickly show you what El

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Salvador's GDP is maybe it's like 20

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billion okay it's 32 2.4 billion okay so

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El Salvador's GDP 32.5 billion but when

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we have a look at the Sovereign wealth

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fund of

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Singapore it's 545 billion so it's more

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than what is that about 15 times larger

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it's about 14 times larger their

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Sovereign wealth fund is 14 times larger

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than the country of El Salvador's entire

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GDP so this is why I think it is a

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massive deal

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if we're seeing lots of bottomup

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Grassroots adoption in Singapore because

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we all know why El Salvador made Bitcoin

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legal tender it's because we saw that

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bottom up Grassroots of Doan which began

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in like 2018 with Bitcoin Beach that

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project was created four years before

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President B made uh a Bitcoin legal

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tender in El Salvador that's not the

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only comparison we're going to make to

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El Salvador but I want to talk a little

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bit more about what makes uh Singapore

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special and a little bit more about this

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survey because it was an absolute game

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Cher okay we can actually

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see uh that 48% of investors are going

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to double down and we can actually see

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that 55% of singaporeans prefer

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investing directly in Bitcoin rather

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than an ETF okay so these guys are kind

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of aware that hey look we don't like to

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actually trust these centralized

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entities

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Singapore gets it why is that well maybe

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that's because of the southeast Asia

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currency crisis U so I'm going to show

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you guys a little chart here I might

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share my screen it's funny I was I was

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running a little bit late for today's

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video so I uh I didn't have this one

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prepped but I've just Googled it I'm

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going to show you what happened to the

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currencies of Southeast Asia in

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1997 okay you can see a lot of them got

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absolutely decimated this is looking at

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the GDP but I'd prefer to look at the uh

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currency rates because they they didn't

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see hyperinflation um but they saw

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significant let's see if Google gives me

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something if I search for significant

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inflation they saw very high inflation

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and it kind of reminds me of what

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happened to The Latin American countries

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in the 1980s when they saw a

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hyperinflation southeast Asia saw this

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in the late

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1990s okay okay I can't find I can't

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find the exact charts uh that I want to

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show you guys but we can uh maybe here

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it is collapsing currencies so most of

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these currencies lost what half of their

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value in a couple of years in 1997 so

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you could see they have the Thailand

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currency Korea Indonesia Philippines

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Malaysia Taiwan and Singapore they're

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all the currencies they're looking at on

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this chart here it's a two-year chart

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and have a look at the collapse in value

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just in the space of literally two years

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okay it happened super quickly but this

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is essentially a very very very big

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currency collapse this is one of the

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reasons why southeast Asia does not

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trust centralized well that's actually

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funny even as I'm saying that I know

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that's incorrect because southeast Asia

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probably has the most government control

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but I think it's interesting that in

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this recent survey they don't trust ETFs

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why I don't know because America seems

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to be trusting these ETF rappers a lot

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more than South Korea okay so again

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let's go back to the that was just a

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random tangent that I didn't have uh

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planned for today's video again I

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apologize I can't help myself on the

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live streams uh but we can see here by

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the numbers in this survey 82% of

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singaporeans have heard of Bitcoin 73%

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of quote unquote crypto investors hold

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Bitcoin that's actually a pretty good

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number to be honest 73% of all people

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buying digital stuff by Bitcoin so

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that's great uh 60% of singaporeans view

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Bitcoin favorably 55% prefer Bitcoin

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over other digital assets again that's

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not the worst you know hit rate so to

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say I know it's you know people are

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always going to gamble people are always

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going to be buying you know

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XYZ crap coin you know all of that kind

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of stuff um which is very very

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interesting and we can see here that uh

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again excuse the word the dirty word

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crypto but 52% of singaporeans are

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primarily investing crypto to diversify

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their in Investment Portfolio okay

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interesting

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again uh 61% who are experienced

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investors have been in the market for

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more than five years okay so that means

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they've huddled through all of the

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volatility we

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saw oh that's a good burp live on air

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I'm sorry guys uh 61% of people have

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huddled through all of the volatility in

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2020 and 2021 so again this is a massive

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survey this was incredibly bullish the

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only other survey that I've seen in the

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world that wasn't as bullish as uh this

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one was the one that came out of turkey

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I actually don't think we've covered

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that one on the channel yet maybe I'll

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do a live stream on that if something

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interesting comes out of turkey in the

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in the near future but essentially out

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of that survey that c coin ran like over

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50% of people in Turkey uh had bought

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something whether it was crypto or you

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know Bitcoin the the dominant King in

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the digital realm so again that was a

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massive survey it was incredibly bullish

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for turkey but I haven't seen a survey

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as bullish as that until now until today

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until I ran into this Singapore survey

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which was absolutely fascinating um so

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again how does El Salvador relate to

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Singapore well firstly let's kind of

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Explain how and who uh actually LED

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Singapore through this massive rise of

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wealth that was created in the country

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again look at how quickly they went from

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a country that had an average GDP per

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capita of like 3,000

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in 1960 to literally what what is it

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today it's

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$120,000 per capita it's absolutely

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exponential rise and I think a lot of it

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is due to this man here called Lee Quan

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Yu okay um most people haven't heard of

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him especially in the west I'm myself

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included until a few years ago but we

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can see here uh he was a British

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educated lawyer and he took over the

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government and he was famous for

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actually creating a government that was

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widely regarded as farsighted honest and

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efficient okay which is again very

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interesting the result was a tidy

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law-abiding country but one that

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visitors often described as regimented

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and sterile and dull okay so again

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there's a little bit too much top- down

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control but what he was able to do in

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the short time that he was uh leader was

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completely transformed the country okay

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so uh we can actually C uh that he was

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the president as Singapore announced its

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separation from Malaysia in

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1965 as a result Singapore gained full

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Independence the only country in modern

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history to do so against its will Mr Lee

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said about building Singapore adopting

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free trade and business friendly

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policies he cracked down hard on

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corruption launched Urban reforms and

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bulldozed uh slums and enforced multi

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culturalism in an effort to create a

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uniquely Singapore Singaporean identity

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okay so again we're not going to get

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into the whole history of Singapore

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because let's be honest I'm not an

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expert on it um but again he introduced

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you know free trade in the country he

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actually turned Singapore into an

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exporting country and he opened up the

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borders so Capital flooded into

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Singapore and this led an enormous rise

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in Singapore doesn't that sound a little

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bit similar to what bu is doing with El

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Salvador again both ministers Lee Kuan

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Yu and bu have both been criticized for

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being a little bit heavy-handed but

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sometimes as you can see if you have a

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leader who has a good vision for the

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country you know sometimes a little bit

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of stern leadership can be a good thing

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okay we're not going to get into the

play13:19

debate about why democracy uh is a

play13:22

shitcoin today and why maybe monarchies

play13:24

could be better than democracies that's

play13:26

a rabbit hole that's going to trigger

play13:28

enough of you guys so we might leave a

play13:30

whole separate video on that one but I

play13:32

want to talk a little bit more about El

play13:33

Salvador and the similarities to

play13:35

Singapore so you can see this article

play13:37

here from Bitcoin magazine can El

play13:38

Salvador duplicate Singapore's road to

play13:41

success a look at the similarities

play13:43

between El Salvador's policies plans

play13:47

since B was elected in 2019 comparing it

play13:49

with Singapore's leader Lee Quan u in

play13:53

the 1960s okay so few stories in global

play13:57

development are as compelling as out of

play13:59

Singapore a

play14:01

small city state that moved from the

play14:04

third world to the first within just a

play14:07

few decades okay so we can see that this

play14:09

article kind of highlights a lot of the

play14:11

things that we just uh kind of talked

play14:13

about uh the the people's Action Party

play14:17

under the leadership of Lee kuu was

play14:19

instrumental in shaping Singapore's

play14:22

developmental uh trajectory through

play14:24

pragmatic economic policies stringent

play14:27

anti-corruption measures and and

play14:29

Relentless focus on public education the

play14:31

small city state transformed into a

play14:35

global economic Powerhouse okay so again

play14:38

this is massive and this is obviously

play14:40

very similar to what's happening in El

play14:43

Salvador okay so we can see here singor

play14:46

adop uh Singapore adopted a zero zero

play14:49

tolerance policy towards corruption El

play14:53

Salvador's political landscape saw a

play14:55

significant shift with bu bu aims to

play14:59

also disrupt the status quo primarily

play15:02

through technological innovation and

play15:05

attempts to root out corruption okay so

play15:08

again El Salvador is doing things very

play15:10

similar to what Singapore is doing and

play15:12

this is absolutely massive because

play15:15

Singapore as we've shown is an

play15:17

incredibly interesting country okay they

play15:20

have an enormous GDP per capita they are

play15:23

very rich and as that most recent survey

play15:26

showed they're very interested in

play15:28

Bitcoin which again is absolutely huge

play15:31

for the country now let's move on and I

play15:33

want to kind of talk about the broader

play15:35

significance that this means for

play15:38

Southeast Asia now I'm not going to

play15:40

rehash everything we talked about in

play15:42

yesterday's live stream but for those

play15:43

who missed it let's not forget okay

play15:46

we're not just talking about Singapore

play15:47

we are talking about all of Southeast

play15:49

Asia Hong Kong is now likely to allow an

play15:52

in-kind creation for its Bitcoin spot

play15:55

ETFs that are going to be launching uh

play15:57

literally this quarter we also showed

play16:00

you this chart here from Bitcoin manga

play16:02

that showed that Bitcoin have been

play16:04

moving from the West to the east over

play16:07

the past couple of months and we also

play16:10

talked about why China and Beijing is

play16:14

backing Hong Kong's Ambitions to become

play16:18

a crypto hub for the world okay again

play16:20

we're not going to rehash everything we

play16:22

touched on on in uh yesterday's live

play16:24

stream I'll send you guys over there if

play16:26

you want to watch it but I think this

play16:28

survey was easily one of the most

play16:30

bullish surveys that I've seen in a very

play16:33

very very long time we're going to go

play16:36

through a couple more quick data points

play16:38

but I want to obviously hit the live

play16:40

chat as you guys know I love to do uh so

play16:44

we can see there's somebody uh 5,000%

play16:48

gain in four years uh that must be the

play16:51

Bitcoin price in turkey that looks like

play16:53

a Turkish flag coming from my friend

play16:55

deino we've got my man Johnny minus in

play16:57

the chat good evening Johnny uh glad to

play17:01

see you in the live chat once again uh

play17:03

we've got decentralized data love that

play17:06

handle that's a great name wish I could

play17:08

think of something as creative as that

play17:09

what's up from ncusa hello hello um

play17:13

wonder what time it is in uh USA I don't

play17:16

know if you guys have noticed but it's

play17:17

uh it's 11:30 over here in Madrid that's

play17:20

probably why I'm a little bit slower

play17:22

with my words than usual sorry for all

play17:24

the mistakes I've been making tonight

play17:26

Den last is in Denmark Bitcoin will go

play17:28

mainstream the the world is Awakening

play17:29

could not agree more L very based very

play17:34

based the delusion of democracy has

play17:36

always been a shitcoin tend to agrie you

play17:38

there

play17:40

um and then we saw when I saw the king

play17:42

last year in Denmark I just shouted

play17:44

Bitcoin the king's driver promised me to

play17:47

mention Bitcoin to her that's brilliant

play17:49

I want to hear more from that story Den

play17:51

last that's absolutely brilliant now

play17:54

let's uh 331 in Los Angeles thank you

play17:56

Elaine good to see you in the chat again

play17:58

um now let's talk a little bit more

play18:00

about this survey uh because it was

play18:03

absolutely massive it's really big you

play18:05

guys can see how how far I'm scrolling

play18:07

here I'm not going to go through all of

play18:08

it um but again they uh they did they

play18:11

talk about the price of Singaporean

play18:13

dollars are they didn't but I already

play18:15

showed you guys the chart uh Bitcoin

play18:17

Bitcoin chart in Singapore is absolutely

play18:20

parabolic all-time highs currently at

play18:24

93,000 Singaporean what are they sgds

play18:28

Singapore dollars I'm assuming they're

play18:30

dollars um so they're at what uh what's

play18:32

that 86,000 alltime high was 83,000 so

play18:36

they're good 5% above their all-time

play18:38

high which is incredibly bullish showing

play18:40

that people are definitely buying

play18:42

Bitcoin in the country which is

play18:44

absolutely massive and it's it looks as

play18:47

if a lot of the people were actually

play18:49

aware of what the Bitcoin harving is

play18:51

okay again this is massive because a lot

play18:54

of people have no idea what the Bitcoin

play18:56

Haring is okay and we've seen it all

play18:58

over the mainstream media for the first

play19:00

time in a long time we're actually

play19:02

watching some significant press about

play19:04

what the harving is over on CNBC

play19:07

recently in Australia last week I saw

play19:09

the national news talking about the

play19:10

Haring but it looks as if the

play19:11

Singaporean people are way ahead of the

play19:14

pack okay they've adopted Bitcoin

play19:15

they're aware of what the harving is

play19:17

it's incredibly bullish to see what's

play19:19

going on in the country uh greetings

play19:21

from Slovenia uh g g uh 3:32 Arizona

play19:26

time okay very interesting uh it's a

play19:29

little bit earlier than I thought um so

play19:31

guys let's uh talk a little bit more

play19:34

about Game Theory you guys know I love

play19:35

to talk about Game Theory and the fact

play19:37

that Singapore has a sovereign wealth

play19:40

fund of $545 billion is massive

play19:43

something else that's really interesting

play19:44

about this Singapore story is we have

play19:47

massive adoption uh by the bottoms up

play19:51

okay the retail guy is adopting Bitcoin

play19:54

okay these these numbers here are very

play19:57

difficult to argue with okay we see uh

play19:59

48% will double down on Bitcoin in the

play20:01

next 12 months 50% have owned some sort

play20:04

of Bitcoin in the future uh sorry

play20:06

they've owned Bitcoin or crypto okay

play20:08

it's massive but coming from the top

play20:11

down we're seeing some uh conflicting

play20:14

messages so to say so we can see here

play20:17

Bitcoin ETFs are approved for are not

play20:20

approved for retail investors in

play20:23

Singapore okay that's really interesting

play20:26

and they've also come out and kind of uh

play20:29

reaffirm their negative stance okay we

play20:32

can see that the monetary authority of

play20:34

Singapore a week after the US gave the

play20:36

green light for uh ETFs came out and

play20:39

said look Bitcoin is very volatile it's

play20:42

very speculative you have to stay away

play20:44

from Bitcoin it's it's too dangerous

play20:46

it's way too dangerous now they haven't

play20:48

banned it but you can see that the uh

play20:51

the Singapore monetary Authority called

play20:54

it a speculative volatile asset very

play20:58

very interesting

play20:59

um and when you scroll down right now we

play21:03

can see given this spot Bitcoin ETFs are

play21:06

not approved by the uh Singapore

play21:09

monetary Authority uh for retail

play21:12

investors okay which is interesting but

play21:15

we do know that there are other people

play21:17

in Singapore who are a little bit more

play21:20

optimistic on it we can see from this

play21:22

article here that's a more recent one

play21:24

this is in February 2024 the article I

play21:27

just showed you I believe it was a

play21:29

little bit earlier let me double check

play21:30

so this was January 2024 so this was two

play21:33

months ago and then we saw this more

play21:36

recent article come out a month later

play21:38

where it says Singapore and Hong Kong's

play21:41

crypto goals are on track despite

play21:44

Challenge from the US Bitcoin spot ETFs

play21:47

so we can see players are still keen on

play21:49

Asia because of friendlier regulations

play21:52

and new funds being created in the

play21:54

region okay which is again very very

play21:57

interesting Singapore and Hong Kong are

play22:00

facing challenges in their bid to become

play22:01

Asia's cryptocurrency Finance Capital

play22:04

following the debut of Bitcoin ETFs in

play22:07

the US so again it's this race there's

play22:09

this race between Hong Kong and

play22:12

Singapore and many other Southeast Asian

play22:15

players to get into the Bitcoin space

play22:17

okay again something else that I forgot

play22:19

to bring to today's live stream was

play22:21

showing you a chart that uh southeast

play22:23

Asia actually has some of the highest

play22:25

Bitcoin adoptions in the world it

play22:28

actually does have the highest Bitcoin

play22:30

adoption rates by the world if you

play22:33

actually look at it comparing it to

play22:35

other regions okay uh from the top of my

play22:38

head you had a number of different

play22:41

countries like the Philippines and uh

play22:44

Vietnam and obviously countries like

play22:46

Laos and Bhutan all in big on bitcoin I

play22:50

really hope I can find the chart for you

play22:52

guys live I can't find the exact chart I

play22:55

want to show you guys um but adoption is

play22:59

very very very very big in Southeast

play23:02

Asia uh we know that the uh government

play23:04

of La is mining Bitcoin uh we know that

play23:07

the government of Myanmar has adopted

play23:10

tether as a legal tender we've obviously

play23:13

talked about the huge adoption in

play23:15

Singapore today something else uh

play23:18

obviously Indonesia we've also made

play23:20

videos in the past about the Indonesian

play23:24

uh what's his what was his name the

play23:26

president of West Java which is a region

play23:30

in Indonesia of 50 million people the

play23:33

president uh what's his name I forgotten

play23:35

his name ridwan Camille that's his name

play23:38

I remember because it's a fun one to say

play23:40

but he went to the Bitcoin Miami

play23:42

Conference in 2023 I think trying to

play23:46

bring Bitcoin miners to Indonesia and

play23:48

obviously that's interesting because

play23:50

Indonesia's kind of split on the uh

play23:53

matter you know some people say

play23:54

bitcoin's banned in Indonesia but then

play23:56

you have the governor of West Java 50

play23:59

million people uh going to the the

play24:01

Bitcoin Miami Conference saying look

play24:03

bring your Bitcoin miners to Indonesia

play24:04

so we have a lot of adoption in

play24:07

Southeast Asia so again I think this

play24:09

story of Singapore is more interesting

play24:11

when we consider the broader adoption in

play24:14

the region okay the region is absolutely

play24:17

enormous um would you count India as

play24:20

southeast Asia um again my geography

play24:23

skills aren't the best guys I'll tell

play24:25

you when I'm don't have a clue about

play24:27

something uh but this is a cool little

play24:29

chart here uh this is kind of ranking

play24:31

the Southeast Asian countries by quote

play24:33

unquote crypto interest and we can

play24:36

actually oh it's a terrible chart I feel

play24:39

ashamed even increasing the size of that

play24:41

for you guys because it's so disgusting

play24:43

that's very blurry and very bad but

play24:45

again you're just you're just going to

play24:46

have to trust me on that one uh please

play24:48

don't verify uh you know southeast Asia

play24:50

does have very high Bitcoin adoptions

play24:52

okay now again this is all about this is

play24:55

all interesting when we start talking

play24:56

about Game Theory um we have Fair alert

play25:00

likes the Bitcoin manga charts uh who

play25:04

who else believes we might see a new

play25:05

alltime high this long Easter weekend as

play25:09

Adam back asserts potentially it's

play25:11

certainly a potential and Adam back

play25:13

still believes we're going to hit a new

play25:15

Bitcoin alltime high before the Harve in

play25:17

we have about 20 days left until the

play25:20

Bitcoin Harve in so I want to hear from

play25:22

you guys do you think we're going to do

play25:23

it I'm not so sure I'm bullish but for

play25:27

Bitcoin to

play25:28

uh hit 100K in the next 20 days that's a

play25:32

big ask and again you guys know we don't

play25:34

do short-term price predictions here on

play25:36

the channel we're not about uh price

play25:38

predictions here on the channel what

play25:39

we're about is taking custody of our

play25:41

Bitcoin okay not your keys not your

play25:43

coins you know we talk a lot about the

play25:45

Bitcoin ETFs here on the channel

play25:48

everybody's talking about the Bitcoin

play25:49

ETFs but nobody's talking about the

play25:51

risks of the Bitcoin spot ETF so again

play25:54

that's what we're going to try to do

play25:55

okay uh if you got Bitcoin in an ETF

play25:57

it's not yours if you Bitcoin on

play25:58

Exchange it's not yours if you need help

play26:01

taking custody of your Bitcoin again I'm

play26:03

going to continue plugging it you can

play26:05

book a free call with myself and we can

play26:08

discuss ways for you can get your

play26:10

Bitcoin off an exchange and we can even

play26:13

uh discuss ways for you to uh level up

play26:15

your custody and just simply maybe level

play26:17

up from a single Sig Bitcoin wallet to a

play26:20

multi- signature uh Bitcoin wallet um

play26:23

again you can book a call and see

play26:25

whether I have a service that can

play26:26

actually help you out okay that's what

play26:28

we're doing at the Bitcoin advisor we're

play26:30

trying to drain the exchanges so that

play26:32

people don't have to rely on ETFs okay

play26:36

um It's just sad that investors are

play26:38

increasingly optimistic about Bitcoin

play26:41

ETFs we hope that that's kind of the

play26:42

Trojan Horse for uh Bitcoin adoption and

play26:47

uh you know all of this pent up demand

play26:50

uh about the ETFs and hype about the

play26:52

ETFs will actually convert into a lot of

play26:55

self- custody bitcoiners that's what we

play26:57

want at the end end of the day uh so

play26:59

Adam back has a bet that 100K Bitcoin at

play27:02

harving 100% correct Phil um the Kil

play27:07

friend's making fun of me in the chat um

play27:10

that's an inside joke I'll probably

play27:11

share with you guys one day uh we can

play27:14

see okay I think I've smashed all of the

play27:17

comments in the live stream today

play27:20

allight haer was here before we started

play27:21

I'm sorry I was late um I was uh it's 11

play27:25

it's 11:41 p.m. over here in Madrid um

play27:28

so I was running a little bit late I

play27:29

apologize about that we got Ms bit oh

play27:34

they're in the chat Den lass in the chat

play27:36

all right guys I think I'm going to cut

play27:38

this one here if you enjoyed today's

play27:40

video um and you didn't see the live

play27:42

stream we did talking about China and

play27:45

the uh who who else did we talk about

play27:47

yesterday we talked about Hong Kong's

play27:49

Bitcoin ETFs because I got asked by

play27:51

someone to run the numbers and see how

play27:53

much Capital can actually come in

play27:56

through the Hong Kong Bitcoin ETF you

play27:58

can see uh this is the live stream here

play28:00

that we did yesterday so you can go

play28:01

check that one out if you're interested

play28:03

and uh with all that said guys I think

play28:05

that's all I've got for you guys uh I

play28:07

might leave you there and uh wish you a

play28:11

happy Easter weekend is it Easter I I

play28:14

honestly don't know I think it might be

play28:16

because all the shops in El Salvador are

play28:18

closed I'm trying to get some packages

play28:19

delivered and they're not coming so

play28:21

anyway happy Easter thank you for tuning

play28:22

in um absolutely love these live streams

play28:25

we're going to continue doing them every

play28:27

single day until the Bull Run is over

play28:30

okay and if I can't do a live stream uh

play28:32

we're going to be releasing a video so

play28:34

again we need to fight the crypto scam

play28:36

uh produce Pam says smash the like

play28:38

button if you enjoyed it yes we can do

play28:40

that uh Den lass has a long Friday today

play28:42

Saturday died for our sind I don't know

play28:45

what a SN is sorry um I don't understand

play28:48

that one okay Easter Sunday all right

play28:49

guys have a great day um I'll see you

play28:51

all

play28:53

tomorrow

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Related Tags
Bitcoin AdoptionSingapore EconomyETF ImpactSoutheast AsiaFinancial TrendsGrassroots MovementWealth TransformationGovernment PoliciesInvestor SentimentCryptocurrency Market