Cryptonews Podcast host Matt Zahab recently conducted an exclusive interview with Bobby Lee, the Founder and CEO of Ballet, the cryptocurrency company behind the REAL Series Cold Storage. During the interview, Lee discussed the ETF-related predictions made in his book coming true. He strongly recommends not waiting to acquire Bitcoin, as its price will only increase with corporations and governments adding the coin to their balance sheets. Additionally, Lee explained why the Ballet wallet is suitable for newcomers of all ages.
ETF Predictions Coming True
In his 2021 book, ‘The Promise of Bitcoin,’ Bobby Lee made several predictions, including one about exchange-traded funds (ETFs). “My prediction came true pretty much to the dot,” Lee remarked, noting that he had predicted ETFs would be launched within three years. The approval of spot BTC ETFs in the US marked a significant milestone in Bitcoin’s history, following years of resistance.
“It was crazy. By law, by regulation, there was no reason it couldn’t be approved,” Lee said. “There’s ETFs for everything.” He highlighted that the US is generally a leader in the global market, with Hong Kong already approving a few ETFs and other countries likely to follow. This development is significant for Bitcoin and other digital assets like Ethereum, which also saw ETF approvals. “Bitcoin turned fifteen, and that’s when [it] got its ETF. So I guess you need a few years under your belt,” Lee remarked.
Don’t Wait to Acquire BTC Until It’s $5 Million
Lee argues that understanding Bitcoin’s value is akin to understanding why gold is valuable. Both are scarce, permissionless, decentralized, and not backed by a government. Lee and his brother, Charlie Lee, founder of Litecoin, were also gold investors. “Bitcoin will become that global reserve asset class,” Lee predicted, comparing its trajectory to that of gold throughout history.
With the approval of ETFs, corporations are adding BTC to their balance sheets, and countries are incorporating it into their national reserves. Recently, Germany’s massive BTC selloff caused market disruptions, which Lee called “one of the dumbest moves.” He emphasized that many countries will likely hold onto their seized BTC rather than sell it. “Bitcoin is going to become a global reserve asset cloud, […] the common sort of global international settlement currency. It’s going to be worth in the trillions,” Lee stated. He urged people not to wait for “positive confirmation” before investing in Bitcoin, as its value could rise to $5 million.
Wallet For All
Lee, an exchange founder, warns against holding money in exchanges due to risks such as hacking, bankruptcy, and identity theft. Ballet, founded in 2019, was designed to be user-friendly and accessible to everyone, regardless of their age or technical expertise. “The idea is to allow normal people, […] the non-crypto-hardcore people to store and self-custody their Bitcoin and cryptocurrency assets,” Lee said.
The Ballet card provides sole, self-custody, meaning no one but the owner has access to the funds. It avoids complex passwords and electronic components, making it secure and reliable. The card generates a private key that only the owner has seen. The Ballet Crypto app enables users to manage their funds and supports multiple currencies, NFTs, and Bitcoin Ordinals. The wallet, made of metal, is durable and designed for long-term use. “Literally, you could bury this in the ground in a time capsule, and it’ll be available to you in 5, 10, 20 years,” Lee noted.
About Bobby Lee
Bobby Lee is the Founder and CEO of Ballet, the cryptocurrency company behind the REAL Series Cold Storage. This physical cold storage was launched in 2019 as the world’s first non-electronic cold storage card with multicurrency support that requires zero setup to use. Lee has been a leading entrepreneur and expert in the crypto industry since 2011. Before founding Ballet, he was the CEO and co-founder of BTC China (later renamed BTCC), the first Bitcoin exchange established in China, which was acquired by a Hong Kong-based investment firm in January 2018. Lee is also the author of the Wall Street Journal bestseller ‘The Promise of Bitcoin.’
The post Bobby Lee, CEO of Ballet, on ETF Predictions Coming True, BTC Hitting $5 Million, and Bitcoin Ownership | Ep. 355 appeared first on Cryptonews.
