$6B floods crypto in one week! Institutional investors go all in on Bitcoin, Ethereum, and Solano. Bitcoin hits a new all-time high of $3.55B weekly inflows, while Ethereum hit a new weekly record of $1.48B, and Bitcoin hit a record $5.95B weekly inflow of $19.24B.
00:00:21.860And then this kind of addresses one of the questions.
00:00:24.880Digital asset investment products attracted a record-breaking $5.95 billion inflows.
00:00:30.420This week, the largest weekly total record on record, driven by delayed responses to weak U.S. employment data and concerns over government stability following the shutdown that began on October 1st.
00:00:41.080According to CoinShares, Bitcoin let an unprecedented $3.55 billion in weekly inflows, while Ethereum got $1.48 billion.
00:00:48.700And Solano broke its weekly record of $706 million.
00:00:51.680A surge pushed total assets under management to an all-time high of $254 billion.
00:00:57.580The United States dominates regional inflows with a record of $5 billion in weekly flows, while Switzerland broke its own record of $563 million in Switzerland.
00:01:08.760Germany posted its second-largest weekly inflow of $312 million.
00:01:12.240And XRP also saw substantial inflows of $219 million, though other altcoins attracted minimal capital.
00:01:20.000Bitcoin spot ETF alone recorded $3.24 billion.
00:01:25.140So the question for what's on a lot of people's minds is, am I behind?
00:03:27.040But it allows anyone with a stock account to start trading cryptocurrencies and not have to worry about, am I going to get hacked?
00:03:32.880I can't tell you how many times some fake Coinbase hacker has tried to hit me up saying, oh, thank you for your blah, blah, blah of Coinbase.
00:03:43.980And I'm like, no, I didn't give you anything from Coinbase.
00:06:57.440I do think we should do a gold standard type of thing with an asset that is able to grow faster than gold is able to grow.
00:07:04.480So to restrain our money supply in some way.
00:07:06.620I get the reason for getting off the gold standard, but I think Bitcoin or something like that can serve as a way to somewhat restrain or keep the money supply under control.
00:08:31.700Yeah, I think that SWIFT is a very antiquated system.
00:08:34.860And it's funny how it's actually like a messaging device where you say, hey, we're sending you over X amount of money.
00:08:41.320Like, okay, and the bank adjusts accordingly.
00:08:43.140So it doesn't actually send money as far as I understand it.
00:08:45.760But all the stats I've seen on how fast Ripple could do it or any of the others that are competitors for that, they could do it much faster, much more cheaply.
00:08:53.740And that's really the pain point of replacing that system is because you can't send a large amount of money to somebody in another place in the world instantly right now.
00:09:03.620We had a meeting last week, Tom, you and I at Casa de Angelo with a guy that's working with a different coin that people are talking about.
00:09:14.000What is eventually going to replace that?
00:09:15.440By the way, to validate what you were talking about with ETF, Bitcoin today, Fidelity buys $112 million in Bitcoin as ETFs see $1.19 billion in inflows.
00:09:27.900Okay, so let's go to the next door here.
00:09:29.360By the way, Patrick, very quickly, very liquid trading as well, right?