Bobby Lee, CEO of Ballet, Discusses Accurate ETF Forecasts, Bitcoin Reaching $5 Million, and Bitcoin Ownership | Episode 355

Cryptonews Podcast host Matt Zahab engaged in an exclusive conversation with Bobby Lee, the Founder and CEO of Ballet, the cryptocurrency firm responsible for the REAL Series Cold Storage.

Lee talked about the ETF-related forecasts from his book that have materialized, advising individuals not to delay in acquiring Bitcoin, as its value is expected to increase with corporations and governments incorporating the asset into their financial statements.

Moreover, the CEO elaborated on why the Ballet wallet is ideal for beginners of all ages.

ETF Predictions Materializing

Lee’s book ‘The Promise of Bitcoin’ was released in 2021 and includes various predictions made by the author, one of which pertains to exchange-traded funds (ETFs).

“My prediction came true almost exactly,” Lee stated. “I anticipated that ETFs would be introduced within three years.”

The approval of spot BTC ETFs in the US marked a significant milestone in the cryptocurrency’s journey, following years of unreasonable resistance to a Bitcoin ETF.

“It was absurd. By law and regulation, there was no justification for it not to be approved,” Lee remarked. “There are ETFs for everything.”

$BTC was $8,618 on the day of the last #BitcoinHalving.

— Michael Saylor (@saylor) April 19, 2024

Another significant aspect is that the US generally leads the global market.

Hong Kong has already authorized several ETFs, and “there will be more globally.”

Additionally, Bitcoin is not alone in this regard – Ethereum ETFs have also emerged, and other digital assets are likely to follow suit.

“And this is how Bitcoin matures,” Lee noted. “Bitcoin turned fifteen, and that’s when it received its ETF. So I suppose you need a few years of experience.”

‘Don’t Delay Acquiring BTC Until It Reaches $5 Million’

According to Lee, the best way to grasp Bitcoin’s value is to comprehend why gold is considered valuable. The two share many similarities: they are scarce, permissionless, decentralized in a way that anyone can utilize them, and are not government-backed, among other traits.

Importantly, Lee and his brother, Litecoin founder Charlie Lee, have also invested in gold.

“If you examine the history of money and gold, how gold became the standard currency globally throughout various civilizations, we believe Bitcoin will evolve into that global reserve asset class,” he stated.

April 2024: One #bitcoin is now equivalent to 30 oz of #gold. It was valued at 15 oz of gold in December 2017, and only 1 oz of gold at the end of 2013.

When will bitcoin reach the value of 100 oz of gold?

— Bobby Lee – Ballet: World’s EASIEST Cold Storage! (@bobbyclee) April 9, 2024

With the approval of ETFs, corporations are now incorporating BTC into their balance sheets, and nations are adding it to their national reserves.

Germany recently initiated a significant BTC selloff, which sent shockwaves through the market.

“That might, in hindsight, be one of the most misguided decisions,” Lee commented. “It will take them a good 5-10 years to realize that.”

Numerous countries already possess substantial amounts of BTC through seizures, and they are likely to retain these assets rather than liquidate them.

“That’s why I advise people, […] this is your opportunity,” Lee emphasized. “Because if you […] follow the trajectory, you can see where it’s headed. Bitcoin is set to become a global reserve asset cloud, […] the common type of global international settlement currency. It’s going to be valued in the trillions.”

“So don’t wait until every country, every government, every politician, every corporation gets on board.”

Currently, with BTC priced around $65,000, if individuals wait for “positive confirmation,” it will escalate to $5 million.

It is crucial to recognize that this is an ongoing trend. We will witness an increasing number of countries, governments, politicians, and individuals adopting cryptocurrency.

However, it is a lengthy process – this is not something that will “activate instantly,” according to Lee.

Ballet Has Integrated #AlchemyPay On-and-Off-Ramp Services@AlchemyPay offers seamless fiat-crypto exchange via more than 300 payment channels in 173 countries, including credit cards, mobile wallets, and bank transfers. This service is now integrated into the Ballet Crypto… pic.twitter.com/oPiq02eGQw

— Ballet (@BalletCrypto) February 22, 2024

Wallet For Everyone

As a founder of an exchange himself, Lee emphasizes the risks associated with keeping funds in these companies. They can be subject to hacking, bankruptcy, or the disappearance of founders, among other issues.

Moreover, not only can the exchange itself encounter problems, but individual accounts can also be compromised. Identity theft, lost phones, lost access, and other complications can lead to the loss of life savings.

Using centralized exchanges carries the risk of account hacks, but not with @BalletCrypto Cold Storage cards. As long as you possess your cold storage cards, your funds are secure. https://t.co/oHU6BA7C2f

— Ballet (@BalletCrypto) June 4, 2024

Ballet was established in 2019. Lee envisioned it as a product that would enable everyday individuals to enter and remain in the crypto space, regardless of their background or age.

“The goal is to allow ordinary people, […] those who are not crypto enthusiasts, to store and self-custody their Bitcoin and cryptocurrency assets,” Lee explained. “I aimed to create something […] low maintenance, highly reliable, user-friendly, and ideal for newcomers.”

The Ballet card facilitates sole, self-custody. No individual or entity has any access to the funds on it, except for the owner.

It also avoids complex passwords that “defeat the purpose of security.”

“We take pride in the absence of electronics,” Lee noted.

Ballet generates two sets of entropy (i.e., two random data) that enable the user to create their private key independently for the very first time.

Consequently, no one has ever seen that private key except the owner, nor has any one person ever seen both sets of entropy, according to Lee.

Meanwhile, the Ballet Crypto app assists users in viewing, tracking, and managing their assets. They can also transfer it to others.

The wallet accommodates multiple currencies, NFTs, and Bitcoin Ordinals.

Lastly, the wallet is constructed from metal. “You can’t destroy this,” Lee stated. “Literally, you could bury this in the ground in a time capsule, and it’ll be accessible to you in 5, 10, or 20 years.”

#Bitcoin2024 is almost here! Are you ready? Visit booth #425 to snag free swag and explore the latest drops from Ballet, including our new Quarter Milli Bitcoin. #BalletCrypto #Bitcoin #PhysicalBitcoin #cryptocurrency #coldstorage pic.twitter.com/bot3ORIeoo

— Ballet (@BalletCrypto) July 23, 2024

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That’s not all.

In this interview, Lee also covered:

• entering the Bitcoin space in 2011;
• the evolution of storage software and cold storage hardware – the first crypto wallets;
• the launch of BTC China;
• the Bitcoin regulatory environment in the USA and China;
• the US Presidential elections with crypto on the agenda;
• Ballet as the simplest and most effective cold storage crypto solution;
• the reasons everyone should purchase BTC.

You can view the complete podcast episode here.

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About Bobby Lee

Bobby Lee is the Founder and CEO of Ballet, the cryptocurrency firm behind the REAL Series Cold Storage.

This physical cold storage was introduced in 2019 as the world’s first non-electronic cold storage card with multicurrency support that requires no setup to utilize.

Lee has been a prominent entrepreneur and authority in the crypto sector since 2011.

Before establishing Ballet, he served as the CEO and co-founder of the first Bitcoin exchange launched in China, BTC China (later renamed BTCC), 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.