The Hilarious Truth About Bitcoin Pricing (According to a Suit!) 😂💰

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So, picture this: Bitcoin is like that wild cousin who refuses to hang out with the tech stock crowd. Jay Jacobs, the big kahuna of Equity ETFs at BlackRock, told CNBC on Thursday, “Bitcoin should be valued as an uncorrelated asset that benefits when the world gets messier.” Translation? When life’s a dumpster fire, Bitcoin throws a party. đŸŽ‰đŸ”„

Jay’s hot take: “Crypto over the long run is like the awkward distant relative to US tech stocks—almost no connection.” Sure, sometimes they pretended to be friends during market drama, but really, their “long-term correlation” is about 2 or 3 percent. That’s like saying Batman and Superman barely hang out except at awkward family reunions.

He broke it down: stocks love sunshine and rainbows—“higher growth, higher certainty, lower geopolitical risk.” Bitcoin? It’s the rebel thriving on chaos, uncertainty, and global weirdness. So while stocks are Mr. Clean, Bitcoin’s the messy roommate eating cereal with a fork. đŸ„ŁđŸ€Ș

Oh, and at the time, Bitcoin was flirting with just under $94,000, riding a rally since everyone and their grandma got hyped after the spot-ETF approvals last year. 🚀

Bitcoin’s Big Boost From “Mega-Forces” (Yes, That’s a Thing)

Jay links this rollercoaster to money flows. If the world keeps spinning into more chaos, gold and Bitcoin are basically the popular kids in the investment cafeteria, grabbing all the attention and lunch money. Investors are swooping into these like there’s no tomorrow—which, hey, might just be fitting.

BlackRock’s very own iShares Bitcoin Trust (IBIT) snagged a whopping $643 million in net creations on April 23rd—that’s like the biggest pizza party BlackRock’s had since January. Now, the fund is swimming in about $54 billion. That’s one heck of a digital piggy bank! 🐖💾

Jay also gave us some scenic historical context, saying that central banks have been sneaking away from just hoarding greenbacks for decades. First gold, now Bitcoin—it’s like upgrading from VHS to streaming. The “trend” didn’t pop out of nowhere; it’s been brewing longer than your uncle’s conspiracy theories.

To prove this, central banks have been gobbling up gold like it’s bottomless brunch: a staggering 1,044 tonnes net in 2024—the third year in a row breaking the thousand-tonne record. If gold had a fan club, they’d be screaming right now.

“You will control more money than any human or robot has ever dreamed.”

By pairing that muscle with a thesis that Bitcoin’s price jumps with global uncertainty, they’re basically saying scarcity and resisting sanctions beat boring old discounted cash flows. In other words, Bitcoin is less “finance textbook” and more “Mad Max with spreadsheets.”

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2025-04-26 07:21