I don't necessarily think that right now, if these products launched, we'd see some incredible

inflow of people buying Bitcoin. My anticipation then would be that a lot of that speculative energy

that flowed in in the days between the announcement and the listings would level off or even

flow back out, but I also still don't think that would be the end of the story. It's in the

importance of narrative and the announcement of the arrival of Bitcoin on the most mainstream traditional financial stage, and it's about its existence

as a vehicle in the long run for all sorts of different use cases that we're not imagining

and that aren't about rushing in on the first day. Welcome back to The Breakdown with me,

NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Monday, October 23rd, and today we are talking about

October. It's back. Here's why. Before we get into that,

however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a

review, or if you want to dive deeper into the conversation, come join us on the breakers discord.

You can find a link at the show notes or go to bit.ly slash breakdown pod.

All right, friends, this is not something we normally do, but let's talk

price. Today, I think, warrants it because it is more contextual than just some random move.

And of course, you don't need me to tell you this, but Bitcoin is up at the time of recording

around 31,000, not quite there, but just under, and overall closed last week above 30,000 for the first

time since early July. The weekly gain was 11%, and that was the largest weekly green

candle since late June, which was when Bitcoin markets went ballistic of news of BlackRock's

application for a spot Bitcoin ETF. Now, of course, throughout the long crypto winter, 30,000 has sort of been

the price ceiling on multiple occasions. Aside from that BlackRock rally in June, we also saw

Bitcoin hit 30,000 in early April, which was, of course, during the period the aftershocks

...