Major global financial institutions continue to lay the groundwork for the next crypto bull market…
On Thursday, Reuters reported that German banking giant Deutsche Bank has partnered with a Swiss cryptocurrency firm to offer bitcoin and crypto custody to its institutional clients.
Deutsche Bank has nearly $1.4 trillion in assets under management. That’s more than the entire crypto market – including bitcoin.
And it joins other major banks, including Standard Chartered, BNY Mellon, and Societe Generale, that offer crypto custody services.
The 15 largest U.S. banks alone have a combined $12 trillion in assets under management.
That would make the U.S. banking system the third-largest economy in the world ranked by gross domestic product (GDP) – ahead of every other nation except the United States and China.
And it doesn’t include the global banking giants in Europe and Asia.
If just a sliver of those assets flows into digital currencies, we’d see the crypto market double.
That’s why Daily editor Teeka Tiwari says now is the time to put any opportunistic capital to work in bitcoin.
Here’s what Teeka told his Palm Beach Confidential subscribers on Wednesday (Confidential subscribers can watch the video right here):
If the [bitcoin] bottom truly is in, and we’re not going to see lower lows, then everything between now and new highs − every pullback − is a buying opportunity if you have the capital to put money to work.
If you have opportunistic capital on the side, you want to put it to work at any price around $25,000.
Here’s why: Right now we’re trading at around the 200-week moving average. Historically, that’s been a phenomenal place to put capital to work in BTC.
It doesn’t mean you’re going to get the absolute bottom. But over a two-year or three-year timeframe, buying at the 200-week moving average has been a solid strategy to make massive returns over any rolling 36-month period in BTC.
As Teeka has repeatedly said, the story of bitcoin is one of adoption. That story is no longer bitcoin fan fiction. It’s fact.
Major banks are offering custody services to their clients. They wouldn’t be offering it if there wasn’t money to be made in crypto.
Eventually, the market will reawaken to that narrative. And before you know it, bitcoin will have surpassed its previous highs.
And where bitcoin goes, so does the rest of the crypto market.
So if you’re looking for altcoins to add to your stack, Teeka’s uncovered a token that will get a huge boost form the artificial intelligence (AI) trend.
He calls it his AI Moonshot Coin. And right now, it’s trading for under 10 cents.
According to the consulting firm PwC Global, AI is the largest megatrend of our generation. It estimates AI will create $15.7 trillion in new wealth.
If only a tiny fraction of that wealth flows into this project, it could go parabolic.
Teeka recently traveled to Arizona’s Sonoran Desert to do an investigative report on this AI venture.
In the report, Teeka says: “I firmly believe the AI gold rush will mint new millionaires, just like the internet boom did.”
You can watch it for free right here.
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Regards,
Chaka Ferguson
Editorial Director, Palm Beach Daily