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CRYPTO 101
Crypto Rundown $300 Billion into Crypto as NFTs, Meme Coins & Bitcoin are Starting to Move
00:59:38
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- [00:00]
TiVo
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- [04:22]
Brian
Oh, I know NFTs have been hot recently and I love, I love it. I love me some NFTs a guilty pleasure because, you know, that was some wild times in 2021. Massive gains, cool communities and people were writing off NFTs for dead for quite some time. I wasn't exactly an active buyer, but it looked like some buyers stepped up. We had some we'll talk about later in the show, but huge NFT spike across the major blue chip collections. And this wasn't just a dollar or two. This was tens and hundreds of thousands of dollars getting bought up in our very lovely JPEGs. So I'm happy to see it.
- [05:01]
TiVo
Yeah, there's a lot to cover. This episode really is. It's a Monday just for the people watching live. Just as an FYI, your friend TiVo is having some mighty, mighty car troubles today. There's, there's no power, there's smoke, there's no fire. But there could have been a fire. Who knows? So just a FYI to my co host Brian, if I get a call, I might have to take that. And you got to solo it for a couple minutes. So just an alert to all the live listeners out there, but let's jump right into it. Our quick macro update of the day. Again, the Iran, I call it the ping pong, the volleyball. Back and forth, back and forth. Iran offered the deal to the US to open up the straight. The Straits open. It's closed. It opens, closed. Nothing's really changed there. The only thing that I pulled from the weekend or late last week that thought was interesting was tether froze $344 million. And everybody was wondering what that was because whenever Tether, you know, does that usually there's some type of nefarious activity going on and it seemed to be tied to Iran, Iranian entities. So I thought that was really interesting. Scott Bessent came and kind of did a press conference and said, hey, it doesn't matter, you know, you know who you are, where you are in the world. If we find funds, whether it's on chain or not, like we're gonna, we're gonna, you know, put a stop to it. So I thought that was interesting. Did that catch your eye, the Tether freeze?
- [06:17]
Brian
Oh, yeah, for sure. Actually, one of our most recent podcasts Joe and I did, we, we talked about, with a guy last week talking about just regulations and compliance and just how transparent and unique blockchain can be. And I get it from the standpoint of we love decentralization, freedom of money. But then you have this other world here where assets are getting frozen. And as you said, Tether executed the largest USDT freeze. What was it? 344. You said 344 million. A massive amount. And the funds were obviously tied to these Iranian entities following some illicit activities. And the move really enforces, I think everyone needs to realize is that Tether's growing compliance role with regulators aligns with really Scott Beset's Push to, you know, stop these funding channels through crypto sanctions. So a big, big news in the crypto space. There's some people that love it, there's some people that hate it. And I see both sides of the sides of the cards here.
- [07:18]
TiVo
Yeah, no, couldn't, couldn't agree more. And it's something that we'll watch. Whenever you see that amount of money frozen, it's definitely. You want to find out a reason why. And yeah, obviously it makes sense. But yeah, tether definitely in. In bed with the US Government at least a little bit. And it kind of brings to the point of what we covered last week on Friday, right, Brian, where the US Government's running bitcoin nodes trying to track that because you can't do that with bitcoin. You can't roll back that or freeze accounts. So I'm sure Iran loves bitcoin, but as we showed, the US Government is also interested in it. So when it comes to bitcoin, let's start talking about the price action because I'll pull up coin market cap. We'll share this tab over here. Our fear. I actually, you know what I saw first thing jumped out was the fear and greed kind of popped back down to the neutral. On the bottom end of the neutral. It's. We're creeping up to greed a little bit. So I'll share that. There it goes. You can see it kind of waddling back there. Seven day looking pretty flat. But we have a lot of data at least I think you know me as Brian is the resident permeable and quantum expert. We have a lot of data that shows as, as the theme of April has been for this podcast, the saying the pain trade is higher. I've said that I think every episode now for at least every rundown episode for, for the month. And I want to bring back and pull up that clip. This is from April, April 10th. 12th. The week of of April 10th. My episode might have aired on podcast April 11th or 12th. I think, I think the pain trade. I've been thinking about this before we came on. I think the pain trade is higher. Maybe a little, little double bottom there on the fear and greed. Dare I say, dare I say looks good. But let's go into what we were saying with the data. What are we seeing? What are people betting? Because if you remember, we were kind of, we brought this up. People were looking at bitcoin to fall to 60,000, 50,000. Will Bitcoin trade below 50,000? All the cow she bets. It started to get to the majority people thought like 50% under, 50, 75% under.
- [09:23]
Brian
I think it.
- [09:24]
TiVo
So pain trade is higher. Since you listened to that episode a couple weeks back, Bitcoin, depending on when exactly you listen to it, Bitcoin's up between 10 and 13%, thus giving a check mark. We'll take the credit, Brian. The pain trade is higher. And then as we noted, we can share here kind of the one month of. Am I pulling that up? Right? The one month. So we're looking like, right, right in here. Pain trades higher. And then the episode aired like right in this little dip here. And we crawl up, keep crawling up. You gotta love to see it. And then as you shared here, 45% chance of B Bitcoin crossing 100,000 this year. So these odds. So it was a great. It was a great thesis. I think we had weeks back where we saw the betting odds. Everybody was on the same side of the boat and we just kind of were saying, like, it feels like people are underexposed to upside risk. So what, what are you. What are you taking away since the last month of our thesis here? Yeah.
- [10:20]
Brian
Well, to start things off, I could listen to that clip with those buttery voices all day, every day just to lay that out there. And. No, I mean, we've been calling it for months now. I mean, credit to you, TiVo, you've certainly brought this pain trade under the spotlight. And bitcoin. Bitcoin looks good right now. The overall crypto market looks good. We've had a little bit of a pullback today, but I think just yesterday we almost. We almost got to 80k, which is spectacular. I think last time we talked about the rundown, there was like a 50 or 60% chance that we were going to get to 90k. Now we're starting to hear that there's almost a coin flip to get to 100. So the, the Shorters might be a little bit nervous here. I'm not sure what's happening, but I would not want to be on the short side of things.
- [11:07]
TiVo
I agree with you. And we have a lot of data to cover here. Now we also have a first ever most interesting live scenario where the tow truck company did not call me to schedule a time and let me know when they're coming. And they're apparently outside as we speak, live on air.
- [11:24]
Brian
Oh, rock and roll.
- [11:26]
TiVo
So I'm gonna go down there and I'm gonna hand this off. I'm gonna stop sharing or. Brian, you know how to share, right? So just go down, keep going, cover the. Why don't, why don't we. Okay, here. Reverse this, reverse this. Brian, take the lead on the Momentum Money Makers update. Go down. Talk about NFTs. Let's talk about the meme coins. Let's talk about the pengu. You guys had some absolute winners. So again, as always, if you're interested in momentum Money makers, there's a $1 trial in the description of the YouTube video and the podcast. Brian's going to give you an update of what's going on in that department along with some of their winners. Brian, that should buy me like five, maybe 10 minutes. I don't know what I need to do with these guys. I'm going to hand it off to you and I will try to be back within like 5, 10 minutes. That sound good?
- [12:10]
Brian
Man, we didn't pre prep this at all. I guess there's no, there's no yes or no, but let's go. TiVo, good seeing you. Now it's my show.
- [12:18]
TiVo
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- [16:15]
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- [16:44]
TiVo
The draft is over for the NFL, but for the crypto one on podcast. Brian McNutt, you're on the clock.
- [16:50]
Brian
Get out of here. We'll see if we share the screen correctly. Everybody but, you know, fired up to be here and talking with everybody today. I'm gonna get over and share some screens when I get a moment and show you exactly what we're talking about right now. And one of the big things that we're looking at is the NFT market. The NFT market has passed $2 billion like TiVo said. Certainly there's been some, there's been some interesting moves here within NFT. So if you're a big fan of NFTs like I am, that was just such a pump cycle in 2021, 2022. It just brought a lot of life and a lot of eyeballs to the crypto space. So really great to see that it's popping back a little bit and things are starting to look good and some of the bigger winners out there. I'm just gonna bring it up here. Let's, let's take a look at OpenSea right now. They're down a little bit today, but I mean we got bored apes getting close to 10 eth again, pudgies are 5 eth, cryptopunks 30. And a lot of these projects are the blue chip projects. You even saw sub ducks there that popped up here. I think they're up pretty big, like 4 or 500%. So a lot of these projects are OG projects. These aren't projects that just developed and popped up this month or new mints. These are projects that have some sort of established community, some sort of established story behind them and people are buying it up. And I love to see it I'm not gonna say that NFTs are back because it does feel like NFT is towards the end of a cycle or when they start to pick up. We've noticed, and this is by no means the end of a cycle. So starting to see a little bit more activity into the NFT market. So I'm watching really closely. So if you're part of our community, we'll probably be talking a little bit more more about NFTs because there's just some really interesting things to talk about and they're super fun. If anybody has bought NFTs or shop traits or had a community or a bunch of friends that utilize or went through NFTs, you know exactly what I'm talking about. And there's a lot of great projects out there and we're going to take a look at meme coins as well. So not only have NFTs have been kind of popping up, we've seen meme coin volume popping up, let's just say 106% to 5.6 billion in one day. So NFTs are starting to show a little bit of, I mean, meme coins are starting to also show a little bit of life recently. And that's exciting because it's starting to look like it's, we're a little bit more risk on. And that, that typically starts to happen when Bitcoin and Ethereum and some of the crypto majors start to establish a nice foundation and people want a little bit more risk. You know, they're looking for a little bit more outreach. We're Starting to see NFTs run, we're starting to see meme coins run. And that's exciting because there's gonna be some really interesting opportunities. And if you're part of our private community, you know, we're always trying to find the best opportunities every single week. And sometimes there's huge winners, sometimes they're flat, sometimes there's losers. No one can bat a thousand percent. But there's been some really great opportunities. And one in particular I want to share with everyone. And this was a unique project because this actually flashed pretty high. We called this last week to our community, so right around in this range. And this is Spike. And if anybody's familiar with the Pepe meme coin, the artist behind Pepe is an individual named Matt Fury, and he's been well known in the crypto space for years. And he is the originator of that Pepe Meme. And then the Pepe Token, which ran to billions of dollars of market Caps was always made very interesting. It's a token that seems to run with Ethereum because it's on the Ethereum chain. Well, the. I guess people within the space found a new interesting token in what Spike is exactly. And this cracks me up because Spike is actually Matt Fury's first drawing or at least they claim that he created this pink little dinosaur that he created in kindergarten. Don't ask me how people verified this, but what was really interesting to me and I brought to our community is that we saw a ton of whale wallet activity. We saw a lot of people within who bought Pepe early, who had big bags of Pepe were piling into Spike. So that kicked off a few of our metrics, why we wanted to evaluate this and why we recommended it to our community. So this is up to 3x to anybody in our community. Caught it around 5 million. It's sitting right around a $13 million market cap. Again, I'm not saying jump in and buy this token today because to go from 13 to 30 is a huge move that 2x but just wanted to show this that when there's a good story and there's a good narrative out there that certainly certain tokens can absolutely run and Spike is one of them. Flipping over to another call we had recently and Joe did a. Joe did a great job talking about this. Again, kind of the same time frame is this collector cards, the cards token and they deal with RWAs, they deal with physical cards. I don't want to eat up too much of the time of exactly what they are, but they're an actual company with real life mechanics leaning into the RWA market, into the physical card market. And as everyone knows, if you're in the space at all or not even just crypto, just in collecting, you know, Pokemon has been huge. Sports cards have been huge, outpacing a lot of different investments. This is another really unique way to get exposure to Those cards, those RWAs. This is another great call. Joe really highlighted this on our last newsletter. I love the call. Ran up all the way as you can see it flashed up here to about 12 cents and sitting right around 8 cents right now. I actually again not to go out and buy this but this is a token that's generating revenue that has a really great story, that has a good utility at the end of the day. And it's. It's extremely interesting and it's a token that I'm continuously looking personally to dollar cost averaging. So when I see major pullbacks it always starts to catch my eye. So it's just a really interesting time here with risk on assets. Like I said, if that's meme coins, if that's NFTs, if that's really the entire market. And let's take a look at kind of what's going on in the meme coin market recently. Nothing really huge is popping out right now. We did have that asteroid token we talked about briefly as well on past, past rundowns and past calls. This token, it might have been the last rundown. This was actually from a girl who unfortunately she passed away, but she wrote very heart thought out questions the Elon about making asteroid the logo or the mascot of SpaceX in Elon essentially just chimed in and said okay. And when that happened we saw an absolute huge surge and we haven't seen a meme coin like this run this hard in really a long time. And now we haven't heard Elon mention it since just mentioning okay, but right when he mentioned okay, right here we saw an absolute rocket ship and now it just looks to be consolidating pretty nicely. It could certainly get below 100 million dollar market cap. It could is less attention is being brought upon it. The token price is more likely going to be down because people are going to rotate into other areas of interest. But why this is so interesting to me personally is what if Elon and SpaceX actually create and use Asteroid as the mascot. It gets to create a story, it creates a buzz. And we could also see another huge green candle. But we're really dependent on Elon really mentioning it or possibly another. Another way this could do really well is if the SpaceX IPO that everyone's really excited for, that is potential to be trillions of dollars. This IPO that a IPO is wildly successful. Successful. This could be a very interesting beta play on that token as well. But I guess the point is, is that we're really seeing a lot of interesting opportunities if that's in NFTs, if that's in meme coins. And obviously we talk a lot within our private community about the AI crypto sector and just overall crypto. I talk about that all the time because I do believe that AI and crypto are going to be a new sector or become a it's already established sector, a growing sector within the crypto market where we're going to get a lot more opportunity. Like Brian Armstrong has stated several times that he could see a world where there's more agents transacting in crypto than humans. And I'm on board with That I think that's a very. I don't even think that's a hot take. I think that's a very intelligent call out because one person could have several different AI agents. As AI agents continue to develop, they're going to release tokens, they're going to have new projects. So really, risk on assets are starting to catch a little bit more of a bid. And just flipping back over to CoinMarketCap, we've had some big winners here recently, and one that I want to call out here is good old Pengu Pudgy Penguins. What are they sitting at number four here? Up 30% on the week. As you know, TiVo and I talk about the Pudgy Penguins team all the time. We talk about the Pengu token. They've been doing a lot of great things. And when TiVo gets back, we got to find out where we said we were going to go with buying those giant Pudgy Penguins plushies. I forget exactly what the floor was going to be when we actually bought those plushies, but hopefully we get there soon and up 30%. We're definitely well on our way. And I'm gonna give you my thoughts while we wait for Teva to come back about Pengu. The reason I like Pengu, I think they're doing some of the biggest things in web 3 and arguably in. In the web 2, just the standard world. Massive amount of partnerships, massive amount of activations. Even in a bear market, they're showing up, they're producing content, they're producing plushies, they're releasing mobile games. Just there's a path here for Pengu to continue to live through past this cycle into multiple cycles and continue to appreciate. But if we look at the chart, I mean, over the past month, it's been just up and to the right, just a straight, steady grind up, which we love to see. So we really want to see what tokens, what certain meme tokens, or. I don't even like to call this a meme token. I call this a brand token. But is it showing strength in a bull market? If it's showing strength in a bull market, typically it's a really good sign for things to come because once. I'm sorry, when it's showing strength in a bear market, when the bull market comes, this is the type of tokens that could pop off. But when we kind of zoom out here, you can see we really found a bottom here. This is when, you know, the crypto majors were just getting absolutely waxed. And then when we're starting to see some strength. We're starting to curve right up. To get back to this levels is going to be a lot of work, but there's absolutely an opportunity for us to get where we need to go. And just some of the other tokens out here that we, we always really like. We, we've talked a lot about Bitcoin and it's pulling back a little Ethereum still above that $2,000 mark. Lana, all these are just pretty steady. Everyone's just kind of sitting there. It feels like the retail short term sellers are kind of out of it or that people are rotating slightly into more risk on assets. Let's see if we can find actually the Meme coin section here and see what Meme coins have been popping off just recently over the past week or so for everyone. A lot of these. Yeah, a few other ones. So Apecoin is a really interesting token as well, similar to the Pudgy Penguins team. So Apecoin came out before Pudgy Penguins and has a connection with the Board 8 Yacht Club and everything they've built. And those NFTs have run quite a bit. I think Bored Apes are up about 40% on the past couple weeks. And of course a lot of these NFT projects that have tokens associated with them seem to be running. So something we always want to pay attention to. We got the SPX6900 which has a very cult like community out there. Not surprised to see that up a lot. Wrecked, another really top brand coin I love to call it. It's a token that I've always been a big fan of. I think it's one of the best founders in the space. Has been trending downward. But over the past week as the market's been bouncing back, we're starting to see Wrecked come back as well. And then I just saw the Moonbirds. Let's take a look at what Moonbirds is trading at right now because Moonbirds is another top NFT project out there and they have the burb token and yeah, it's. This is, this is from the initial release, so not surprised there. But let's take a look at the month. Yeah, you can kind of see there's been a little bit of a bump but a correction here. Not nearly as a violent move as we saw with Apecoin and the Pengu Token. But this is a token I'll probably have my eyes on because this. There was an acquisition with the Moonbirds team recently, a few months back. They're building out the NFT projects they did an airdrop for holders and I have a, I have a pretty good feeling that they're going to continue to utilize some utility around their token. So really to kind of wrap it all up in this Meme Coin NFT world right now, it definitely feels like blue chip NFTs are making a comeback. A lot of the OGs in that space are coming back. They, they're bringing back more energy and it's just an exciting time to be really in this entire area. I'm going to stop sharing here for a moment and kind of take a look at what else we have on our sheet down towards the bottom. We've had some really interesting calls here with at Momentum Money Maker. So again there's a link down below if you want to jump in. Check out our community. We're always talking about some of these higher risk opportunities in the crypto space. If that's platforms, NFTs, if that's meme coins, if that's AI, it's, it's really wherever the, the puck's going, that's where we want to be, that's what we want to do. Just really let's take a look at the chat as well to see if anybody's in here calling it out. A little bit of people are asking what we're talking about right now. Well, we're talking about NFTs, we're talking about meme coins. TiVo's car currently has been down and out, so we're trying to work with him a little bit as he figures that out. I have a feeling he is going to be back very soon. Where's everyone from? I'm going to ask in the chat because we always have, we always have somebody from another country or another continent on here. Exciting stuff. We have. Oh, the cc. We're back, baby. Port Elizabeth South. So we got some, we got some people all over the globe always love to see that and we will jump on over here, curious about what everyone's thoughts are of the market as well. So if you're following the crypto market as close as we are every single week, love to know kind of what you have your eyes on, what you want us to talk about, certain tokens that maybe aren't of the norm outside of the bitcoin and the ethereums and something that's caught your eye because that's what we're trying to do. We're trying to find the best opportunities in what we're giving at the present moment. And there's been just a lot of interesting opportunity Here in the entire crypto space, just with, if you're, if you're just interested and you want to hold on to the gold standards, the macros, the bitcoins, not many people will argue with you there. But again, there's a lot of fun opportunities as well. There's a lot of unique ways to earn yield, there's a lot of new unique platforms, there's airdrop opportunities because this crypto space is growing, it's evolving every single day. So we're going to jump in, we're going to take a look at some of the tweets here that TiVo saved while he's still working out his car situation. And we are going to talk about the overall market cap. Let me share my screen again. Take a look. So the market, the total crypto market cap has added 310 billion in just a month. And that just goes to show you that there's interest here. You know, whenever we're in a really volatile period and just we're just getting waxed and everybody's kind of looking around like, what's the next opportunity? What's going on with crypto? Is bitcoins dead? Gotta realize that's some of the best opportunities to buy some of the assets that you're really looking, you're looking into. Because I'm a big believer in the space, I'm a big believer in the crypto space. I'm a big believer in the web 3 space and how it's gonna disrupt the entire world in so many different ways. And as the market starts to pick up, as people start to get more excited, which they should, because it's such a disruptive technology, we start to see more money flowing, more liquidity flow in. And it just makes people more excited. It makes institutions who have been buying our bags when we were in the 60s, when we were in the 70s, they've just been acquiring, acquiring, acquiring. And retail's left. We've talked about that on the rundown. When retail leaves like that, we see more institutions continue buying. There's our guy. TiVo. I'm just verbally vomiting on about the market here. My guy. We start to see retail leave now, when the institutions start coming. When the institutions continue buying, we start to see the price going up and up and up. Retail starts to FOMO back in. And that's when we start to see the crypto majors going up. That's when we start to see NFTs going up in meme points. TiVo, how's the car, man?
- [34:40]
TiVo
It's a Disaster out there, everybody. It's an absolute disaster. We don't know how much money we're gonna have to buy the dip after this one's over, but any pennies under the couch will go to it. I mean, did you play. Did you play the video or.
- [34:54]
Brian
No, no, no, I talked about. I've talked about number six. So four and five, and then you got seven.
- [35:00]
TiVo
Okay, cool. Let's. So going down to seven, that's eons. Did you go over the funding rates?
- [35:07]
Brian
No, I did not.
- [35:08]
TiVo
Okay, so that's probably.
- [35:09]
Brian
I did the momentum, moneymaker stuff.
- [35:11]
TiVo
Got it. Cool. And then you went over. Just went over six.
- [35:16]
Brian
I just talked about.
- [35:17]
TiVo
Yeah, so adding to that. Man, this is tough. Live shows, Live shows, funding rates. This is stuff. This is sent from friend of the show, fearless leader Bryce Paul. What we're seeing from a trader's perspective is how funding rates are basically pretty low. And so when funding rates are low, traditionally. There's a chart here that I found. They have these trading lines, a little warm up for Friday. So Friday we're gonna have. Brendan, we're gonna do a full technical analysis. Micro bull run, deep dive. But you can see here in this chart, it's been in this falling channel with similar metrics. And then it looks like this 78, 3, 4, 4 finally pierced the upward sense of the channel. So if you pair that with how funding rates are. Sorry, I'm sharing the wrong screen. There's the channel. So we're piercing it, piercing out around 78,000, 344 piercing out of that channel. And then you pair that with this one, which I was just sharing is the funding rates were negative. Whenever you see these little red lines and the funding rates get negative. You know, you can kind of chart that more often than not a solid time to buy. At least there's. At least. You know, the interesting thing is this last little blip here of red is major compared to going all the way back to October of 2023. So the traders, the traders are getting excited. Funding rates are negative. The bulls are on parade. And when funding negative, that's basically a kindling. That's a kindling of what could explode higher when, you know, these shorts start piling in and the funding rates go higher or low. There's reason for whales to possibly be buying this dip. And it kind of just gives a lot of rocket fuel to the upside if these bears and shorts get caught offside.
- [36:57]
Brian
Yeah, I mean, we just talked about it, what, last week, where the biggest whale buys 45,000 bitcoin or something in one week were bought by whales. Anybody that holds any anywhere between ten bitcoin, one hundred or a thousand bitcoin so or a hundred one hundred, one hundred bitcoin wall to a thousand. And they've absolutely been gobbling it up. And one thing that we want to call out is when we hit pretty much bitcoin's local all time high of 129,000, we're talking about how we saw a lot of whales selling, they sold and now they're buying back because they're probably looking for that next leg up.
- [37:27]
TiVo
Yep, that's what everybody's looking for. Especially when you got a big car
- [37:30]
Brian
bill way oh man, I can only imagine like your boy.
- [37:35]
TiVo
But the show must go on. That's the fun thing about live shows is truly anything can happen. Let's go over to friend of the show. Mike Novogratz from Galaxy had some, some talks about is is Sailor causing his own bitcoin supply shock? Something that has been wildly debated as Saylor continues to buy every week. Let's hear what Mike has to say. We can react and then go over what Saylor bought this week.
- [38:02]
Mike Novogratz
US retail has come back, period, end of story. And you see it through the ETS but most you see it through MicroStrategy. Sailor, the wizard of microstrategy. Michael Saylor is back and he is selling stock and he is selling perpetuals and he is buying bitcoin. And his premium is expanding, not contracting what it means. By now you're 130 times nav. His M nav is 130 relative to the bitcoin he owns. And so he can sell micro strategy and make money, you know, create yield as he says for his investors. He dilutes his new investors, current investors and, and dilutes his new investors and, and, and it's accretive to new investors, to old investors. And so it's a, a strategy that he has almost, he's almost the only guy that actually has this strategy built in. You know you had all these other DATs that tried it. They all trade at discounts. But Michael has managed to create this cult of people that trust him and that buy MicroStrategy as their Bitcoin proxy. They buy it as MicroStrategy and it's working. And that is, I mean he bought two and a half billion dollars of bitcoin last. There's not enough supply to eat up a billion a month for my, a billion a week for Microstell.
- [39:35]
TiVo
There's not enough Supply. There's not enough supply to go a billion a week. I don't think he's been doing a billion a week for the entire drawdown here. But most recently he's been doing a lot and it might average out to that soon enough to the point where I remember last week we covered it, it was like 2.3 billion. This week it was a quarter of a billion. $225 million of Bitcoin acquired for strategy. And then we can't forget, of course, after an epic rundown on Friday, friend of the show, Tom Lee continues to buy Ethereum. Interesting point from Tom Lee's buy. He's buying directly from the Ethereum Foundation. Do you like or dislike that, Brian? I feel like that could be a point of debate.
- [40:21]
Brian
Yeah, that's a good question. I'm neutral, I'm neutral about it. They're buying it from, I mean it's better than the Ethereum Foundation, I guess, selling on the open market. So sell it to, you know, diamond hands Tom Lee of the Ethereum world here. But I, I could see both sides of the story that you, you know, the Ethereum foundation selling Ethereum. But we, we don't know, we don't know why or how that is and it's an over the counter deal. So it's going to have a little bit less impact on the, on the price. But you know, hey, let's give it to Tom Lee because I don't think he's selling anytime soon. He's the Michael Saylor of Ethereum.
- [40:56]
TiVo
That's a fair point. That's a fair point. It's interesting to have two permeables, if you will, on both Bitcoin and Ethereum. So for, for the bitcoin, I mean, I feel like the supply shock thing is something that is obviously always a talking point in the crypto community. It especially ramps up during the halving and I don't know, you can definitely play, you could have that bull bear argument where, you know, why isn't and why hasn't it almost already happened? Mike Saylor's buying, you got the ETFs holding strong inflows like we've covered on this show. So where is this supply shock? And I think you can make the case that, you know, some might say, oh, it's happened, look at the history of bitcoin. But also I think you can make the case with these, you know, these trading desks and these OTC deaths are maybe suppressing the price a little.
- [41:47]
Brian
Yeah, I mean there's definitely A case there. I mean back to back, back to Michael Saylor. He's absolutely in beast mode. What did Novogratz say? They're selling 130x premium to the nav. Crazy. And with, with US retail truly flooding in like we hope they are, they're treating MicroStrategy as like one of their go to bitcoin proxies. So his weekly demand is now so massive that there isn't enough supply left to absorb it. And that's what, that's what Novogratz is saying. But you're right, if you're buying over the counter, it's not going to affect the price as much. But again, I'm in this as a long term game. I guess we're talking more like we want these sale these buys to, you know, shoot us up multiple percent every day. But I think this is getting distributed in places where probably nobody's looking to sell anytime soon. And this is all going to catch up and start snowballing.
- [42:40]
TiVo
Yeah, we're all, we're all waiting for that snowball because when it does happen and bitcoin breaks through and goes to the banana zone, Papa's got a brand new van. And we'll take that literally. You need it because my car is broken. That is the theme of this episode for everybody joining us live. We truly appreciate it. As we bounced all over our normal rundown schedule, did the people enjoy the NFT momentum Moneymaker segment? Brian? With a lot of winners there, I'm not sure.
- [43:09]
Brian
I hope that people enjoyed it. Yeah, there were some winners. I mean there's some winners. I don't know how you can't be excited about where we could be going. The whole, the whole story tivo I was gone is that we're starting to see more attention and risk on assets. For a long time here we were scrambling. There wasn't a lot of action on Chain. I was saying for multiple rundowns that like, hey, there's just not a lot of action on Chain. But people want to, I don't want to say they, they want to gamble a little bit in certain opportunities with like meme coins into NFTs to one extent. But as the market stabilizes and continues to grow, people are looking to get into more risk on assets. And some people look at just the, the, the crypto majors as risk on. While myself is, I look like that's one, like, that's like my nest egg, you know, it's not risk on enough. So that's why I go over to the NFT meme World and there's a lot of people like me as well and they're starting to pop off. So it's exciting to see because I think it's just a stage snapshot to show where we could be headed because things could really start to move very, very quickly in both the crypto majors and in meme coins. NFTs, AI all those sectors Save on
- [44:22]
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- [45:26]
Brian
Mountain View Equipment and Sonic. Mountain view equipment.
- [45:53]
TiVo
Yeah, I agree with you. I just there's something to be said about these the semiconductor trade man, and the data center trade. I mean these things are going crazy. So I feel like there's a wait for rotation, right? Capital rotates which I've been a huge proponent of. Why the NASDAQ, the S& P continue to go to all time highs even though we went through a quote unquote war and we're looking in possible higher inflation and the market just keeps climbing these wall of worries to the upside and there's a lot of bears out there that are in despair. The bears are in despair and they're wondering why the markets in total didn't fall out of bed during this and it's cause the money just rotated, right? A little bit came out of tech, a lot came out of software. Bitcoin got tied up into the IGV and it rolled into some oil stocks and maybe some staples and now it's kind of reversing, right? You're starting to see it go into this semiconductor trade. The Sox, ETF, the SMH, all just continue to rock it. Crazy numbers, 40% in a month. So, you know, eventually, in theory, the, you know, money rotates. So when that trade ends, where's the next risk on asset? And I, I believe that crypto is lining itself up. Bitcoin, Ethereum and other cryptos as well to, to take the lead at some point once again and be the bell of the ball because it's all just kind of rotating. The money's got to go somewhere. And, and I like, I like where crypto's setting up to possibly receive the next rotation for risk on.
- [47:22]
Brian
Well said, man. I, I'm ready for risk on. Bring it to us because that's. It can get real crazy real quick. And if you are paying as close attention as everybody in our community, there's. There's several opportunities every single week. And that's why, that's why we love what we do, and that's why everyone should tune in at the minimum. You got to tune into the rundown because I feel like the more consistent I've been doing this with TiVo, every time I come away from a rundown, he gives me some hot tips and it's doing great. So it's a reason to certainly watch the rundown. I would call out the Robin Hood trade again because it's just like the most epic of all time. But everyone's going to chirp us in the chat because we talk about it so much, but it was just such a killer call at the time.
- [48:03]
TiVo
Hey, talk about it, be about it, live in it. I live in the Robinhood trade as we speak of it. For those that listen, for those who know, you know. But I think that we do a great job and we're honest. You know, the pain trades higher. You got a free 10, you know, 12% ripper. If you've been listening for month there. And we'll continue to cover that. I think a contentious point of debate which we're going to dive into now and we've covered on this show. We'll continue to cover. It's a fluid debate and I think some of the smartest people in the world and the smartest people in history, you're. You have the ability to change your opinion whether it's a trade, whether it's an opinion about anything. The food you like, the trades you want to do, anything. I think the smartest people in the world reserve the right to get new information and change their opinion because A lot of the feedback we got in the last election cycle was we were all over Trump or Trump? Trump. Trump. And they took it more politically than the crypto space. And I thought we were pro Trump, if you will, just for the crypto, you know, revolution that he was seemingly leading in the David Sacks of the world and wanting to bring regulation to the world and the clarity acts of the world and the genius acts of the world. And we're getting part of that and we're getting not as great price action. We're seeing some things that you could, if you're the most straight down the middle person, you could say, hey, we got to debate this. A little bit of a red flag here, like world liberty, fire, the meme coins. And there's some gray areas going on right now. And so I think this is important just to have a healthy debate. The graphic for the Trump conference, which is this past Saturday, I believe, in Mar a Lago. Here's the graphic. The attend. I didn't get too much out of what came out of the meeting. If you say like not, not too many talking points other than Trump saying the following. We're going to circle back to this graphic. But Trump said a couple things. Here's the first. He has an obligation to make sure that all the industries do well. Crypto is a big industry. He feels an obligation, quote, unquote, obligation to the crypto industry. He also says at Mar a Lago, the gathering, excuse me. That banks won't derail the Clarity Act. So taking aside and saying the banks won't be the ones to derail that. Those were the two main things that came out of his weekend in Florida at Mar A Lago crypto base before he took a flight to D.C. and then there was some wild stuff that went on, which I'm sure if you're any adult that reads a newspaper or watches the news, you saw what happened there. We're not going to talk about that. But for the Trump meme coin holders, what did you take away from those two? Let's start with the statements. Brian, what'd you take away from those two statements? The banks won't derail the Clarity Act. He takes aside again. And he has an obligation to crypto.
- [50:47]
Brian
Yeah, we have to take it with a grain of salt. Right? Because Trump says a lot of stuff out there, you know, and he definitely puts it out there working the media, working the people he's trying to appease. But I don't think there's any denying that in that same interview. I don't think it showed on the clip. He really leaned into how it's an arms race with crypto and AI and it's against China. And I think that's a really important thing for people to understand that certain people within the administration and the powers within the crypto space look at this as a real arms race. We want to be a world leader in AI. We want to be a world leader in crypto. And if you get behind in either of those too early, you might never catch up again. So that's why I'm a big fan of these comments, because, yes, I do believe that there's a lot of people who held crypto. He got the crypto vote that he does owe us some sort of success. So it's good to hear that he's still talking about it, you know, within his administration. You know, if he went completely silent on it, that would sound alarms. And we've heard him go a little silent on it. But now he's coming back and he's saying that he really wants crypto success. And he cited a lot of different reasons why that's so important. And then this Clarity act, it's a huge deal, guys. I mean, we need, we really want this Clarity act to happen in 2026. And I've gone on the record several times saying is that we need this to probably happen before midterms. There's some people saying that, you know, it could get signed in, may be ready to roll. So fingers crossed that happens. But Trump definitely seems to be able to pick a side here. You know, I, I would. If you told me a few months ago, I would have said he would have probably picked the side of the banks for some reason, just because the banking industry is so powerful and he's probably so, like, intertwined there. But he really seems to be leaning in with the crypto people, and we'll see. We need it to happen. We want it to happen. So to put a bow on it, I think it's great that he's calling out crypto and AI success in a path to do that. And he's also still talking about the Clarity act because that's going to be a huge deal for the year 2026.
- [52:54]
TiVo
Great points. He sided verbally with the quote, unquote, crypto community against the banks. But what will. What's being said behind closed doors in the meetings that me and you can't get into is the most important, not necessarily the final quote on the tarmac before heading on to Air Force One. We need results we need to see it. We brought up the odds last week. We did. We dipped in. We covered it last week. We saw that little flash crash down to the 30s. I think it was like 38. And I got in in the low 40s, so up to 40. I'm officially in. Officially in. On the crypto 101 podcast, not personal financial advice, definitely not investing vice, betting markets, basically gambling. But I am taking a side of the Clarity act signed into law. I took two bets, right? I took the anytime before 2026 and then anytime before August 1st.
- [53:49]
Brian
Oh, that. You sent me the. You say to just further double down on this TiVo did send me the screenshot. So I know this is verified. He's in. But I did not know that you have it with exposure to before August. That's an interesting bet because I feel like it. It really has to happen before August. That's my vibe.
- [54:07]
TiVo
Clarity act buys before 2027, which will be, you know, January 1st, 2027 or 31st, 2026, whatever. And then before August 1st. Confirmed, yes. A confirmed yes. So a little, A little extra juice there, as the kids like to say. Now, speaking of kids, this graphic reminded me of. For all the comments that said I was just pro Trump, let me tell you what I think of this graphic. This graphic reminded me. I think I was in like third grade and we had a presentation on the presidents and you had to bring in like a cardboard cutout of all the different presidents with a fun fact. And it was due Monday. You know, it was a. It was one of those, you know, third grade. It was like a one month project. You had one month to do it. And it was the Sunday night before it was due. And I, I realized I didn't do it and I didn't know what to do. So I just went to my mom and cried and I told her, and she went to A.C. moore Arts and Crafts Sunday evening, like 5pm and bought all the crafts and did it for me and yelled at me for waiting till the last minute. That's what this graphic looks like. A project that was due on Monday. You had a month to do it and you didn't do it until the night before. What's going on here, Brian? What do you think of the graphic? What do you think of the. The people on it? Fascinating.
- [55:29]
Brian
I was, I was trying to get a really clear look here. I got to bring it back up. I was trying to get a clear look because it looks like that picture of Trump just cracks me up. It's. He's. Like this little orange guy in the middle there with a grumpy face. It just kills me. But there's some heavy hitters on that page, that's for sure. See Cathie Wood.
- [55:47]
TiVo
See Cathy Wood. Grant Cardone. Tony Robbins in the building. Tony Robbins. Tony Robbins dipping into crypto. I'm seeing his AI Ads, too. That guy's first to everything to start marketing. Whatever gets you in the funnel. Sales funnel. Legend TR There we got Tim Draper.
- [56:07]
Brian
But then right next to him is Mike Tyson. Interesting duo right there.
- [56:12]
TiVo
I. I need to see a clip of Mike Tyson actually being there. I think Pomp was on there. Is Pomp on there? I think he was. Yeah. Bottom left. Bottom left. You can barely see him. Pops on there. So I. I don't really know. I don't take much from it. I know that the. The Banking Committee and the. The reason that the Clarity act might get held up is they want to add stuff into the Clarity act that, you know, bans politicians and sitting presidents and their families from benefiting from things like meme coins and different things in the crypto space. So the problem with the Clarity act is there's things that we really, really want out of it as the crypto community. And then there's things. And the president says he's pushing for it, but then the president, his family are also doing things that are raising red flags that the opposing side does not want to happen and wants to be put into law. With the Clarity act, even if there's certain things like stablecoins that are a bipartisan issue, there's certain actions that the administration seem to be doing that are gonna give the opposing side some ammo. In my. In my opinion, again, this is my personal opinion. It does not reflect the opinion of crypto 101 or, you know, Crip Nation or anything.
- [57:21]
Brian
It's.
- [57:21]
TiVo
I feel that the. You're giving too much ammo to hold this thing up. Like, you're giving Elizabeth Warren too much ammo. Like this whole, like, buy the Trump coin to get access. Like, you could make the case that this is access to a sitting president. How do you get access to the sitting president? You buy his thing, you know, the Trump coin, whatever. And Justin's son, obviously was trying to. Did that successfully and got a pardon out of it, and now he's suing, and he's unhappy, but he got his pardon. So it just. It seems there's a huge gray area. And I only took one class of political science at the University of Delaware, so I can't Dive into it on an expert level of what constitutes access to a sitting president versus just, you know, a project that's the family has, you know, it's like it's such a gray area.
- [58:11]
Brian
Yeah, this. This has always been a worry of mine, or not a major worry. But as deeper and deeper as the Trump family gets into crypto with their own Meme Coins, World Liberty Financial, with prediction markets, it makes crypto, which I 100% should be a bipartisan issue. Think Republicans, Democrats, Independents, whoever you are, I think should really look at crypto and the foundation of blockchain, of how important it is to all these different industries and how important it is for us as a country. When you get somebody that's as polarizing and pretty much on one side, hated as much as Trump and the Trump family, and they're making millions and billions of dollars on Meme Coins and World Liberty Financial, and they have these, like, special dinners and deals, then all of a sudden people that maybe that were on the left now are like, that were neutral crypto are now like, we don't need this, especially with him at the lead. So I want crypto to stay a bipartisan issue. I wouldn't be upset if Trump's direct involvement with crypto would, you know, take a few steps back, but he still continued to endorse the crypto industry. I don't know. I mean, Trump was like, he's launched four NFT projects. Like, it's not even the meme coin. Like, he launches NFT projects, he launches Meme Coins. So I think crypto needs to stay as bipartisan as possible. That's my personal opinion.
- [59:36]
TiVo
Yep. I think we're on the same page there. And you want people to come in and help. You want people to drive the conversation, which, again, in all fairness, they did. They started early with those executive orders, but we're looking, you know, two years coming about two years in, heading into midterms. You know, that quote of I feel the obligation for the crypto industry is like, he's going to want to tap on that base to go tell people to vote for whoever they want to vote for in the midterms. And I feel like the majority of us are waiting to be okay, but you got to deliver on some of the things first. You know, the. The Oval Office executive meeting thing definitely put things in motion, but we got to get some things across the finish line, and your boy needs it done before August 1st. When it comes to the Clarity act as a bet, we will monitor for the Crypto 101 podcast. So I thought that was a fun conversation, something we will continue to talk about. Let us know your thoughts in the comments, please. Everybody's opinions are welcome here at Crypto101. We'd love to hear it. And we'll finish up with. I thought this was. We'll save the X app. That's a quick hitter so we'll hit that. The X app we kind of covered. They dropped some new tags on. On X where you can do some charting. Covered that with Brendan and it was like, hey, they're not doing that just to show some technical analysis. Like this looks like the kind of first rollout of something when it comes to X being the Everything app and possibly being a money and banking tool. So there's some rumors that early testers have been. Been running in. I'm sorry have been using Elon Musk's X money banking tool. So some, some early users are reporting. These are just reports 3% cash back, which makes me feel there's some type of credit card option and then 6% interest on savings, which that is. That is huge. I mean I don't know if that's a rolling rate of, of APR there, but that's, that's definitely way above the industry standard for banking. So keep something to keep an eye on.
- [61:32]
Brian
Have we had confirmation yet that there's crypto rails to this? I think I'm assuming there is, but is there a confirmation?
- [61:38]
TiVo
Assuming no confirmation, I. This has been pretty tight. I feel like it's like one of those things like everybody knows it's what he wants to do and we've covered it. I mean at this point it's gotta be a year ago. It's hard to track time. It just times time sometimes goes by so fast or so slow, but I feel like like we were reporting on X, was getting their banking license in different states. Yeah, yeah, yeah, we were reporting on that but it was a while ago and that's when we came. The thesis is like the everything at money banking. And then it went very, very quiet. There hasn't been much news until they rolled out these new cash tags which has like technical analysis features to them. And then now these reports are. People are, are testing it and using it for real. So we will obviously continue to cover it.
- [62:27]
Brian
Yeah, I don't think this is going to be bearish for crypto at all. There's going to be some sort of, I mean not confirmed, but I'd imagine there's some sort of utilization here which is just going to further Drive attention and adoption.
- [62:39]
TiVo
Yeah. And for our final topic, embrace debate, a dev proposed a new bitcoin fork that would technically redistribute Satoshi's tokens. My God. I guess the thesis is I, I looked. Did you see this, Brian? I, I did a quick overview of it. I lost. Yeah.
- [63:00]
Brian
Yeah. So it's. Yeah. So, so this bitcoin developers revealed this fork proposal for a new E Cash network that would snapshot the current bitcoin ledger and airdrop 1to1ecash tokens to every bitcoin holder. So think like 4 bitcoin would be equivalent to 4e cash. The plan leaves satoshi's 1.1 million. So satoshi is 1.1 million bitcoin untouched on the original chain. So there won't be any seizure, there won't be any redistribution. While this new sidechain will add privacy features, drivescan trailing and a dev fund. But bitcoiners are not really that happy with this. They're not feeling this E Cash fork at all. There was, I was going through the, the replies a little bit and people were calling it theft and communism on blockchain and a direct attack on property rights. We're gonna have to see people are trying to figure out a solution here and I think that's the biggest. It's a whole big issue with the, with these OG coins and the fear of quantum computing. We've talked about this. It's not because we don't have a way to fix this. It's because there's no like CEO of bitcoin. It's the beauty of it and a pain point of it as well. So people have to align with what we're going to do here. On the plus side, on the pro side of things, it's great to see that there's solutions here for satoshi's coins and these other bitcoins. But on the negative, I get it. Like you're snapshot in the bitcoin ledger and airdropping your, your forking bitcoin purists of bitcoin aren't going to love that. But something with quantum computing and protection is going to have to happen. So this is interesting. I think they're trying to come up with solutions. I'm not sure if this is going to be the one, but that's kind of a 30 second pitch of what's happening.
- [64:52]
TiVo
Great breakdown. I think a top comment for sure would be once satoshi's coins are touched by anybody other than the original owner of the wallet, which I guess or whoever has the passcode is the end of bitcoin. If there's a forced distribution, you know, that kind of goes against the principles there. And a great kind of tie into the top of the show where tether froze, you know, 344 million. That's. You know, again, that's not what the bitcoin network is. Is built to do. It's. So, yeah, I'm not. I'm not in on the E Cash. I mean, if you're gonna give me a free airdrop and then it takes off, I'm not gonna. I'm not gonna be devastated, but I don't think this is gonna get a ton of. A ton of traction, do you?
- [65:33]
Brian
I. I don't. I don't. I like to see if people are thinking outside of the box and they're trying to solve solutions, and I think that's how you do anything. You know, you get. You get the whiteboard out, you start figuring some things out. You get some pros, some cons, and you figure out a plan here. I. I feel like Craig Wright should just step up. And if everybody doesn't know that Craig Wright's the. Was he a billionaire? Australian billionaire that claimed to be satoshi for years. I think Craig Wright needs to step up and move his satoshi coins, prove everybody wrong. I do not believe Craig Wright's actually satoshi. I don't sue me, Craig, but I just don't believe it. And he needs to step up. He needs to move the coins, really prove everyone wrong here, you know?
- [66:15]
TiVo
Yeah. It would be interesting in our lifetime to see, like, one bitcoin get moved from satoshi's wallet and see what. See how much everybody freaks out. But, yeah, it'll be. It'll be interesting to track again. I agree with you. I like seeing people thinking outside the box, but let's focus back on the quantum thinking outside the box. Maybe stay away from. Let's.
- [66:36]
Brian
How.
- [66:36]
TiVo
How we can we distribute satoshi's coins? Final thoughts for the day. Hand up on me. I apologize to everybody. You know, we always try our best here. Got the car issue. Thank you, Brian, for doing. Was that 15 minutes of solo work? Well done.
- [66:53]
Brian
I blacked out, everyone. I'm not exactly sure what I said, but I. I believe it. By blacked out, we. I wasn't ready for it.
- [66:59]
TiVo
By black Momentum, money makers continue to have winners, man. It is what it is. It's. It's awesome to see you guys have success in all types of market. If you're interested in that. As NFTs get hot baby. Check the, check the link below. Check out the $1 trial and then Brian, I'm gonna put you on the spot here but we do have a fed decision Wednesday. Might you have some time to hop on? We haven't gotten alive for a fed decision in a while. Maybe, maybe Wednesday we spin one back up 100%.
- [67:28]
Brian
I'm in. This is my last chance to bet Jared Powell not wearing a purple tie and just basically setting money on fire because he only wears a purple tie. Maybe for his last presser.
- [67:43]
TiVo
I love that. Yeah, it's fair baby.
- [67:45]
Brian
Right?
- [67:46]
TiVo
Well they're at there's in theory it should be but then if worse doesn't get confirmed then this the current chair continues on. So that's another bet you can make. But yeah let's try and get that done. I know that the last couple I think we've had like we had a summit and then we had our in person so we, we've been missing the lives for the fed chair. A fed chair news conference which is always fun and maybe we can have some fun there on Wednesday make up for a little bit of a rocky episode today due to my due doing and we can cover some other fun stuff in that. So let's aim for that. I'll, I'll post something in the community if we lock it in. And then Friday technical analysis with Brendan a deep dive. We will re go over the funding rates with him, something that he's really interested in along with the technicals and the charts. So thank you all for tuning in. Again my final apologies for it not being the best of shows but we try our best here and we will rebound as we always do. Thanks everybody. Happy Monday. Enjoy your week and we will talk to you again this week very very soon. That's all for now. Bye bye everybody.
- [69:00]
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- [70:04]
Brian
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