← CRYPTO 101
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- [00:00]
Tevo
Foreign.
- [00:10]
Brendan
Welcome back to your crypto rundown where we talk about everything that's going on in the world of cryptocurrency and blockchain technology, from the fundamentals in the news to the technicals on the charts. We spend the time doing hours of research so that you all don't have to. And man, the crypto market is moving. It's coiled up and it is primed for its next leg to the upside. And I know you're thinking, Brendan, it's been a bitcoin dominant market. Sure there's been some altcoin movers. What about Ethereum? What about altcoin season? Well, the longer that time goes on, the more evidence that we're getting over here. I mean, the M2 money supply is going parabolic to new highs. Bitcoin's exchange reserves are going to record levels of lows. This is creating a huge squeeze in the price action of Bitcoin coin. But Ethereum here is in the bulk of the news this week. There are countless new records being broken on Ethereum. They're seeing record levels of flows into the ETFs and treasuries are coming out of the woodworks saying we're actually betting on Ethereum now as opposed to Bitcoin. And we're seeing the ETF flows transfer from being Bitcoin heavy to Ethereum heavy. So we're going to talk about what's happening over here if there's some alpha on Ethereum and really realistically what the future can look like now. Ethereum is not the only one. We have some breaking news on the Solana front because Phantom Wallet just unveiled that they're going to allow direct PERS trading powered by Hyper Liquid, which is a protocol that we have talked about on the crypto rundown. It's an altcoin chart that has been going parabolic. And there's also some Solana related news in regards to the Soul ETFs. We're going to touch on that in just a second. But of course there's a lot more to talk about. We can't go over all of it here just in this little bit, but what I can tell you is that Franklin Templeton is now tokenized over $800 million in different tokenization ways. And all these different centralized companies are coming out and wanting and trying to use both cryptocurrency and blockchain tech and just, you know, sofi is another one that's added to the list. Robinhood we've talked about a lot. There's a handful of others and we are seeing adoption like we have never seen it before. So as we always like to say over here, buckle up. It's going to be a big episode. It's going to be a long episode. We're going to push an hour this time. It seems like that, it seems like that's the new norm. But of course I cannot do this without my good old pal Tevo.
- [02:39]
Tevo
Yeah. Good morning. Yeah, these, these episodes have been getting more and more fun and packed each week as we make these outlines and kind of just keep teasing it, we're going to get to it. I know as we got a busy week next week, we're still going to try and put out a rundown, but starting later this month, we're gonna be doing two of these a week with Brendan and I and then we're also gonna have a second episode this week with Joe, Joe and Brian to kind of go over that momentum, moneymaker side of things. There's some meme coin news I want to cover, so we're bringing them on. So yeah, just, just a lot more and it seems to be what you guys want. You know, we love our listeners, we love the fans, the. I mean, Brendan, I don't know if you're on the YouTube chat. We, we signed on, I mean it exploded. This is the most active chat we've seen in a while. We've got Matt, we've got Crypto Princess, we've got Trinity, we've got Palm Beach. Peter, the chat is active right now and the people are excited and I think that that's telling for the market. Right? We are here every week, we're covering the news and basically what we're seeing is just bullish news after bullish news and yeah, price action, you know, especially for altcoin season. I think we could all say we'd wish would be a little bit more popcorn if you will, but beat bitcoin's hovering around all time highs and you know, the average person doesn't seem to care. I think that's a little telling. We've talked about that before. But Brendan, before we toss it to you to technical analysis, when it comes to bitcoin, there are two big things that I'm seeing this week and Matt in the comments actually asked this question without even knowing where we were starting. Matt's wondering, Brendan, is the supply squeeze actually going to happen? And I think that's an interesting point because as you can see here, bitcoin supply has hit a new low on the exchanges and the OTC desk. And we bring up this chart every once in a while. We see it just a consistent flow down. And you know, if you're scrolling on X like, like we are, you've seen the clips of kind of, you know, when people keep bringing it up, you know, hey, why is price stagnant? Why aren't we ripping with this low supply? And eventually you're, you know, you're gonna have to find a new price level for people to sell. So right now it seems to be in that 100 to 110 range. But when that selling dries up and then you add in this, which I know there's a lot of people on X, a lot of people in the crypto space. This is a controversial one, Brennan, so we would definitely want your it, but it's the M2 money supply. The M2 money supply has absolutely broken through its ceiling flying higher and bitcoin price has not caught up. Now traditionally, the people that love this stat is, it's about a hundred days which we are now approaching for that, you know, upward range for bitcoin price to go meet that M2 money supply if it wants to. So Brendan, I, I teed this up as like, hey, it's a big, big month here for the M2 money supply people. They've been right a lot of the times and they're, they're very loud when, when they're right. But I think this is something that this, this show is now going to monitor for the next month or 2 because the M2 money supply has not stopped going up and bitcoin price obviously has not followed yet and it seems to be a lagging indicator. So what, what are your thoughts on this M2 money supply? What are your thoughts on the exchanges? Give us your take and then let's pull up the charts and, and see what the technical analysis is telling us. If you have been considering futures trading, now might be the time to take a closer look. 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- [07:33]
Richard Karn
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- [08:30]
Brendan
Message and data rich may apply.
- [08:31]
Richard Karn
See Terms for details.
- [08:32]
Brendan
Yeah, so when it comes to the M2 money supply, first let's just address that the common misconception with it is that it is always extremely correlated and that's not the case. It's actually something that the more you zoom in, the less correlated it tends to be in terms of like percentage. But when you zoom out, the more you zoom out, the closer the correlation gets. So you know, for instance on this chart you're looking back, you know, months and months and I can't see a time frame on the very bottom of the picture, but I would imagine like it's probably going out like at least like a year or so or are really, really far out is what we're looking at here actually well over a year. And so you can see in the bigger picture, is it completely correlated every single day, every single week? No, like there's little periods here, but as you zoom out you're saying, well, roughly speaking, you know, although there might be a week of non correlation, 2 weeks of correlation a day here and there, the bigger picture, you can see that roughly speaking, it is very, very correlated. And we see the two behave very similar to one another. So that's the first thing is people need to zoom out a little bit and look at the bigger picture. I know it's easy to see like yesterday, for example, it's like, oh my goodness, the M2 money supply is hitting new all time highs. It's ripping. Why isn't bitcoin moving on a day like today? And again that's because number one, it lags. But number two is not like a day to day metric. Right? It's not a day to day indicator. So what we see here is in the bigger picture we should be moving up. And I think that's what we are seeing and we'll show in the charts like how we're seeing positive fundamentals, positive stuff on the M2 and positive technicals as well. And I think that we are on our way to breaking out to new all time highs. And so that looks good when you're looking at the exchange reserves and the supply of bitcoin. Asking like, is there an actual shock here? There 100% is. And it's crazy because I have gotten the chance to talk to and TiVo, you know, you were here for it. I've been talking to some of the bitcoin ETF providers. We talked to two in the last week. We talked to Franklin Templeton and we talked a bitwise and I've even brought this question up to them and some other analysts just saying like, you know, what's the deal with the bitcoin supply shock? Because we see it disappearing off exchanges to record lows. And then you go and you look at it on the OTC desk, which is Usually where big whales, big companies, anybody who wants to buy a substantial or sell a substantial amount of cryptocurrency or really any asset, they go to these OTC desk, which stands for over the counter desk or over the counter trading. They call it over the counter because you're not going through a brokerage, you're not going through an exchange. And this is typically done so that these gigantic orders do not manipulate the markets in one of two extreme ways, right up or down. So when you look at the exchange reserves, for most people, you know, most companies, most everything, most those are disappearing. The exchange reserves and the amount that they have on exchanges are disappearing at a rapid rate. If you look at it since 2022, I think we are around 4 million Bitcoin on exchanges. Now we're around 2.4 million Bitcoin on exchanges. When you look at the OTC desk, the chart is almost identical to this one. They're disappearing and they've been in a freefall, especially since the start of this year. The reason is this, or the reason for this is because the Treasuries are buying up Bitcoin at a rapid rate. The ETFs are buying up Bitcoin at a rapid rate. Governments and sovereign wealth funds are doing the same thing, and companies are in here as well. So what we haven't even started to see yet is pensions and retirement funds and that stuff get their hands on this. But then you have retail on top of this, which are also trying to buy. And so the supply shock is real, it's happening. And the more that we see crypto disappear on exchanges, the thing that people need to understand is that allows price to, to move upwards drastically easier, right? So if we go to a, from a 4 million supply on exchanges to a 2 million supply on exchanges, it is now, you know, twice as easy for Bitcoin to move to the upside, right? There is half as much liquidity. And so if you have cut the supply on exchanges in half, that should in theory be raising the price by not necessarily double, but like a pretty close margin to it saying it should be gaining in price because the asset is becoming more rare. So it's a really long winded answer. But like there's, there's so many things to consider here and it needs to be talked about because, I mean, seriously, if you go back a couple of years ago and say that you were just looking at exchange data, Bitcoin is now twice as rare as it was on exchanges. Now that's probably why it's increased so much as. Well, you know, we're sitting at 110,000. If you go back to 20, 22 and where we were sitting in that time frame, we were definitely a lot lower than that, depending on when you look at it. But we were sitting right around like 40, 50K. But, yeah, I mean, overall, man, a lot of good data. And to answer the question, the squeeze is real.
- [13:44]
Tevo
Yeah, I'm excited for it, and I think there's a lot of talk about it, which is interesting. And, you know, I saw some. Some panel that was, you know, why are we stuck between this 100 to 110? And people just want more. But, you know, obviously there's sellers out there, and you can't. You can't deny that. Right, because we've been kind of trading in this range. But I think there's that core, like that core thesis of bitcoiner that's been around for so long and held on. If they didn't sell at 70 and sell at 85 or 90, and they're still holding now at the 110 and they don't want to sell, it's like they're just not going to see. So that floor almost feels like it keeps rising. Right. Especially with the narrative and the government and all these treasury companies coming out of the woodwork for not just bitcoin, but others. And that's what we're going to talk about next. But, yeah, just again, we say it all the time. It's. It's zoom out. You know, there's the. I can't get over how active the chat is, Bren. And we got Matt Ryan, crypto princess, the gang. A lot of these people we've seen over the. The years since we've been doing this, right? And it's like, zoom out. We've been on this journey for a while and look how far we've come. So, you know, I don't think it stops here by any means. It seem feels more of a. Of a pit stop, but with all the bullish news and the narratives and the setup here, you know, I think it's. It's super exciting to be here at the halfway point of the year looking, looking into the future. But, you know, again, fundamentals, narratives are one thing, technicals are another. So tee us up, Brendan. Dive us in and show us. Show us the way with your technical analysis, please.
- [15:12]
Brendan
Yeah, let's do it. You know, there's certainly a lot to look at in the charts over here, so let me rip this open and we'll look at bitcoin first over here. Because what we're seeing is we're pushing up into that $110,000 level. And this is the third time that we tested it. So the all time high is right here, right? Well, right below that we have a little bit of a resistance at around 110,000, 110,500 bucks. And we came down, we came up and then we tested this and rejected. Then we came back up, tested the same level and rejected. And now we came back up again to this exact same level for the third time and we rejected a little bit here. The difference is that in recent weeks over here on bitcoin, you could have seen a very clear like falling channel right where we are seeing lower lows, you know, into the high and then lower lows, lower highs, lower lows, lower highs. And we were trending downwards here. Now what we've started to see is a shift outside of lower lows and lower highs, where you can see that we're kind of breaking above this, testing it as support. And we're breaking this trend and retesting this flask, this flat level of resistance as opposed to I'm rejecting this and falling lower. So we're breaking out of this downtrend and I think that's sign number one right of a, of a pivot, of a reversal, is the break of a downtrend. What we're also seeing is that it's back above the 50 and 20 day moving average and we're using this as support constantly where we're bouncing off both of the short term moving averages. It's another really, really good sign. So to me, I see the downtrend is breaking. It looks as if we're trying to pivot away from this and prepare for our next move. And that's exactly the kind of thing that we saw over in here. When bitcoin was trending to lower highs and lower lows. What needed to happen, the first step in this was just a break of the downtrend. Now we broke this and as you can see over in here, we started instead of rejecting the 20 and 50 day moving averages, we broke above them, sat on top of them for about a week here, and then we rocketed upwards. And you can see this happen on a lot of these uptrends where it's like, hey, the reversal happens. We start breaking above these moving averages into a pivot period. And then we start going and continuing to the upside. And that's what it looks like. What's happening over here on Bitcoin right now we don't know what kind of, you know, maybe news or unforeseen catalyst can get thrown our way. We really can't control that stuff. So in like the day to day, you know, there's going to continue to be volatility. But I think that the bigger picture here becomes a whole lot more clear, especially when you zoom out and you look at some of these indicators. It's like, well, the RSI is sitting neutral, the MACD is sitting neutral. I'm pretty sure the fear and greed index is still neutral. As we talked about last week, we're not in some overextended territory, which is where I think a lot of people think that we are at, right? They say, oh well, bitcoin's at all time highs. Maybe it's close to being overextended. Now it's the opposite. It's coming from being oversold or close to being oversold to being just neutral. And it does have a lot more room to the upside. And so we have a very clear level of resistance at 110k. We have the all time high at 112k. And we're seeing this similar stuff over here with Solana where it was seeing lower highs, seeing lower lows. Now we saw it, you know, below all the major moving averages. Well, now it's on top of this. We are testing these previous resistance areas as support and the technicals are pushing to the upside and they're looking good and they're looking bright and there's not a lot to hate on with this. And so overall, again I think bitcoin's looking good. I think Ethereum is really primed and we have a lot of information and data to kind of back that up as we go on over here. But this is where I think there's a lot of extra attention at right now. And you know, Ethereum is something that I'm keeping a very close eye on. And yeah, you know, overall, you know, bitcoin dominance is starting to come down. ETH dominance is starting to come up. This is something that's really good for altcoin holders because you can see on these days where like ETH dominance is growing and ETH is doing well, well you can start to see that altcoins are also doing really, really well. You know, axelar is up 3%, Clear Pool's up 5%, Euler's up 4%. We have what, HBAR up 4 and a half percent. Like altcoins as a whole are just doing pretty solid you know, uni swap up 7%. So we like to see this. You know, a strong ethereum typically correlates to a strong altcoin market. And yeah, I mean, overall, you know, I think the technicals are pretty good. And the way that I'm positioning myself here is I think any dips that we do get are for buying on a lot of these cryptos that are performing well. Because, you know, it's my belief that, you know, both bitcoin and ethereum are preparing to break. You know, for bitcoin it's the all time high, but for Ethereum it's its most recent swing high. But I think that these two are both coiled up here.
- [20:26]
Tevo
Yeah, I couldn't agree more. And again, this isn't personal financial advice for anybody, just two friends talking crypto. But when you look at the crypto market, I think this is specifically bitcoin. But you could, you could say the whole crypto market in general, at least the mature blue chip projects. If you really zoom out and you think five, six years, what have these assets endured? And I think this goes with the S&P 500 as well. You know, we've done Covid, we've done the fastest rate hikes from the Fed in their history. We've done a crazy election cycle, we've done Liberation day, we've done the Iran bomb dropping. Like if you, if you go across the six years, how many black swan events can you have in a short period of time like that? Obviously this is our lifetime and you could go back in the 50s and 60s and 70s. I'm sure there's, there's other ones, but I just feel like the pace of news and everything happens so much faster. And that's why you're seeing these faster recoveries. We were just talking about before the show, man, we, we were bullish on, on the liberation date dip we bought. But even we were shocked at how quick, you know, this, this bounce back has been. But I think it showcases a resilient asset. Like after all that we're still at all time highs for bitcoin, we're still at all time highs for the S&P 500 even, you know, the blue chip crypto market is even put in a floor over that time period, right? Not going back down to those, you know, 20, 18, 19 lows. So I think what you have is a maturing, you know, true asset class in crypto. And you know, I think it's, it's exciting to be on the ground floor of that. And now that the, you know, kind of that traditional tradfi is here and accepting it, we've talked about this a couple of weeks ago, is like it's not going to go exactly how you hoped or how you wanted it, but it's also here. So stay nimble, keep educating. And this is a true asset class now. And so there, you know, there is money to be made, but you, you just, you just want to keep educating and don't get locked into one silo. You know, I think this episode is going to be great because it's really merging that Tradfi and Ethereum story and other, you know, other things in crypto that, you know, is hitting the news flow And I think sometimes these crypto native defi. Native people get a little headstrong, Brendan, and they don't want to, you know, open, open their thoughts to new ideas and like, oh well, tradfi is just going to buy my bags and then I'm going to make all the money. It's, it's never going to be as easy as it seems. So I think you're in the right place to keep learning. But this is a mature asset class and I think that's something to be proud of, that you've went through all this, but also to be excited for the future.
- [22:57]
Brendan
Yeah, I mean, and speaking of being excited for the future, let's talk about some of these, these Ethereum catalysts. You know, outside the charts, the Ethereum ETFs netted, I think it was $1.3 billion in inflows. And I believe we have a chart for this, but just a crazy, crazy amount where we are. I'm sorry, no, this was not the Ethereum ETFs. This is saying the Ethereum network netted 1.3 billion. Or is that 1.3 billion? I believe. Yeah, in inflows here. And so what this means is that it's taking away market share, it's taking flows, taking away TVL and stuff from other chains. And you can see some of the big ones that lost were like bnb, even bases getting a little bit. That's lost a lot of it. This is coming back to the Ethereum main chain here because when you have BlackRock and Bank of America and Deutsche bank and Robin Hood and all these other players in blackrock, like building on the Ethereum main chain, people are starting to get excited about it again. They're saying, hey, all these big tradfi houses they're building around the Ethereum ecosystem and they're not building on some of these other ones. So when you look at a lot of these other layer ones that haven't been doing as good, it's because institutions have for the most part said, hey, we're primarily interested in Ethereum and some of the L2s, but outside of, you know, Solana getting a little bit of transaction, they're really not touching a lot of these other blockchains. And I think that was the hope is that maybe institutions would look elsewhere, but they're really not. And that's giving everyone a revived hope in Ethereum. The other thing is that BlackRock on the ETF side has already accumulated 1.5% of the total Ethereum supply. And this has all happened in less than a year, which is just another crazy metric. And yet TiVo has it up on the screen. Quick reminder here for everyone that is tuning in on like Apple podcasts or Spotify or anything like that. If you want to see all the visuals and the charts and the tweets that we're referencing, you got to go over to our YouTube channel. It's the Crypto 101 podcast on YouTube and you can see all the visuals over there. But you know, back to the point, BlackRock has accumulated 1.5% of the total Ethereum supply in less than a year. And when they're accumulating here, this is, this is long term holders, this is not short term day traders. They're not going to dump all this tomorrow. This is Ethereum getting removed and put into a long term wallet. For the most part, most of these holders are. And on top of this, the U.S. government, if you remember, I think it was earlier this year with the new crypto plans, they said, hey, we're done selling crypto. You don't have to worry about us doing that anymore. And what we've seen, coincidentally, like the Ethereum reserves from the government is, is growing. They actually made a deposit the other day where we saw Ethereum flow into the their Coinbase account. So they sent around $218,000 in Ethereum to Coinbase. Now typically people would look at this and they'd say, oh my goodness, they're sending it to an exchange so that they can sell it. But they're not. And what people forget actually is that Coinbase is like the primary custodian of the US government's crypto. So when they're doing this, it's not always a bad thing. And in this case, if we see Ethereum and crypto coming into their Coinbase wallets or into their Coinbase accounts, That's because they're growing their crypto supply, they're growing their crypto reserves. They've already said that they're not going to sell anymore. And you know, if we start seeing the shrink then we know, we know they're lying. But so far that's not the case. It doesn't look like it's going to be the case. So in the bigger picture here, let's just recap. You know, Ethereum is dominating market share. It's taking it away from other chains again in a huge quantity. BlackRock is accumulating, the ETFs are accumulating and the US government is increasing their Ethereum supply and treasury, all pretty positive things. And that's not even talking about these new treasury companies which we'll get into in a few minutes. But Yeah, I mean, TiVo, any thoughts on that?
- [27:31]
Tevo
Just remembering not that long ago it was Ethereum was dead, Ethereum was this dead narrative was alive and well on X and just, you're just disappointed in the price action for the most part, right? Because bitcoin was, was rocketing and rallying so hard and ETH was just a laggard this year and even, you know, that Liberation day dip under 2K was, you know, I don't want to say the final straw for some, but you know, obviously there was a lot of selling going on and then just an absolute face ripper, you know, back to where we are now. And so people are kind of seeing that price action. So price action came first, narrative now has come second. But you gotta remember somebody always knows, right? So you gotta wonder who knew of these rollouts of the Robin Hoods and BlackRock. And this kind of narrative has been talked about before, but the action and the treasury companies is now taking place right before you. So it's an interesting spot here. You know, where, where will Ethereum go next? Make your bets. I think you're a big risk reward ratio guy and again, you got to make your own financial choices and this isn't financial advice, but you, you'd have to, you can make a good case that the risk reward to the upside is there. You could probably, you know, figure out and come up with some good trades.
- [28:51]
Brendan
Yeah, you definitely can. And you made a good point. Risk versus reward is everything here, right? How much capital are you making to get a set amount? Right. If you're risking $100,000 to get a thousand dollars, it's like not worth it. You're risking way too much capital. But there's a healthy balance there and it's something that we're trying to always preach over here. You know, look for at least like a 2 to 3 risk versus reward. And, you know, that's something that's going to help you mitigate risk and stuff. So. Well, moving on. You know, Phantom Wallet on the Solana side is in the news over here with a massive update. I mean, probably top two biggest updates that Phantom Wall has ever done, but they're coming out and they unveiled that you can directly trade perpetuals or perpetual contracts. And this is going to be supported through their wallet, and it's going to be powered by Hyper Liquid or the Hype Project. Now, this is a big deal. What are perpetuals? How is this different? Well, instead of owning just the cryptocurrency themselves, right. The underlying asset perpetuals allow you to trade contracts that represent those cryptos. So you don't actually own the tokens, you don't actually own exposure, but you're trading a contract that represents a value of exposure. So these contracts are traded in like dollar amount, right? So you can say, hey, I want a thousand dollars worth of exposure to a project. And that's what a perpetual contract is. Now, typically, almost always perpetual contracts are leveraged, right? Sometimes you can choose your leverage, sometimes they choose it for you. But you buy in saying, I would like to get $1,000 of exposure to a given token, and I want to do this at X Leverage. So this is a pretty crazy addition where people can both buy and sell and long and short different assets. I'm interested. Like what? And this is brand new. I mean, this like literally just hit the desk like later yesterday. So I haven't tested this out too much, but I am curious. Like.
- [31:09]
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- [32:08]
Brendan
What are the limitations going to be on this? Like they say, obviously, like, hey, this is going to be something that starts with customers in the EU as a lot of these things do, just like what Robinhood announced with their tokenization and all that. Like it always starts in the EU because of US regulations being so tight. But I'm curious, what will be the limitations on this? Like, are we going to be able to long and short anything inside of the market, just inside of our phantom wallet? Are we going to be able to go like ridiculous leverage on any position, on any token in the Solana ecosystem, or is it going to be any token in any of the supported ecosystems? Like there is a lot that can be done here. And they say, like, hey, like you're pretty much going to be able to do just about everything. You know, they say, hey, you're going to get, you know, all of our normal stuff up to 40x leverage. You're going to get take profits, stop losses, alerts, like all this stuff. And it seems crazy, but you have to think that this is the natural direction that crypto goes. I look at this and I'm a little bit scared. Giving the masses easy access to leverage. Now listen, there's one thing you know about me, I know TiVo knows it. I like leverage. I'm a trader, I love trading, I love leverage. I am constantly in leverage positions. I'm a little bit nervous here because giving everyone and anyone access to leverage, you know, with essentially one click, you know, you send your crypto to a wallet, boom, you have leverage. Access does make me a little bit nervous because I think the masses tend to abuse leverage and it can bite them in the butt. But it does make sense that this is kind of the direction that we go in where everyone and anyone can get access to anything, all from a single location. And we're seeing that with like brokerages and exchanges, right? TiVo, where they're saying you can do everything from your exchange, you can have your IRAs, you can have your retirement accounts, you can have cash deposits, you know, earning you interest, you can have stocks, you can have crypto, you can have options, you can have everything all from a given place. And the wallet market is moving in that same way where, oh, you can stake, you can hold, you can buy, you can sell, you can get leveraged. Now you can trade. And that seems to be the direction that we're moving for just about every form of like financial asset or just everything in general where we're just combining things. And so instead of keeping everything compartmentalized in like, all these different areas, we're saying, you know, just bring it all together, let people be responsible, and then we're just hoping it plays out for the best. But, yeah, I don't know. It's fascinating. TiVo.
- [34:49]
Tevo
Yeah, I'm not a leverage guy. I'll do my, you know, I'll do my futures contracts, but only with the cash and dry powder. True. Dry powder that I have. Yeah, yeah. And then obviously do my, my stop losses and, you know, risk rewards from that. Yeah. Just seen too many stories of people getting wiped out and getting caught up in it and, you know, but everybody, everybody has their, their level of risk that they want to take. And, you know, if leverage is for you, that's great. I just think kind of like you said, is you got to know what you're doing. And I think especially with social media, people will screenshot those per contracts and be like, oh, my God, you know, a thousand percent. I turned a hundred dollars into, you know, a hundred thousand. Unbelievable. 100x. And it's like, those might be real. They could, some of them could be photoshopped. And then for every one winner that he has, like, ask him, you know, ask that person to show you the losers as well, because trust me, there's plenty of them.
- [35:46]
Brendan
Yeah, now there is, man. It's. It's certainly something to pay attention to. And we don't condone leverage. We don't tell people, again, we can't give you financial advice. We're never going to give you financial advice.
- [35:56]
Tevo
Question from. Question from Baylor Bear. Welcome back. Baylor Bear, could you explain the difference between futures and leverage?
- [36:03]
Brendan
Yeah. So typically, futures is a form of leverage. When you're looking at a futures contract, they are typically predetermined in how much leverage they offer. Different futures, what. I don't know what the correct terminology is, but like, different futures groups is probably the right word. Like you have like CME and you have nano futures and you have all these different kinds, but they all have different predetermined leverage attached to them. So if you look at like cme, for example, they have mini and then they have Micros. Micros are 10x leverage. Minis are like X leverage. If you look at like the nano futures on Coinbase, they just offer one option and they're saying, hey, this is one option. That's all you get. And we predetermined how much leverage is inside of this. And I believe it can actually change given on like market circumstances and whether you're long and short. But when you're buying to the contract, they say it is worth this much leverage. You do not get to choose. So that's what futures contracts are. And also the contracts expire every single month, typically at the middle of the month. So with perpetual contracts, they are exactly what they sound like. They are perpetual in nature. They don't expire, but with futures contracts they do expire every single month. Now you can roll your contracts over, which is an option, but it is slightly different in nature. Also in perpetuals you tend to have funding rates where based on who is holding the majority of positions, the longs can pay shorts or the shorts can pay longs. So that's something that can happen where there is a reoccurring rate that you are getting charged for being in the position because there's no expiration. And that's kind of their way of fighting people who are just going to hold the positions for forever is that they're constantly charging you a funding rate and that can change. Some places do that like every eight hours. I think some places do this like once a day. But you know, there's, there's some slight differences there and there's all different forms of leverage. So you have like perpetual contracts, futures contracts, you have options contracts and all three of those are going to be slightly different from one another. Yeah. And then you have just normal spot trading, which is just normal holding. Cryptocurrency. Yeah.
- [38:11]
Tevo
Great, great rundown. Thank you, Brandon. Very in depth and yeah, just giving some love to the live. Hopefully if you're listening on podcast or on YouTube later, maybe you'll check out the YouTube and join us for a live because it is. The chat's on fire today and. And it's things you love to see and we're not even in a breakout right now. Imagine when that happens. Just keep building this channel. It's, it's a fun one but let's, let's shift to the. I know we covered it last week, but this has been the talk of the town. Brendan is, is Ethereum treasuries and we've even had, I saw a couple, you know, we got some videos to play of. It's like, it's hard to explain. I feel like crypto is still in financial terms. It's an asset class and people recognize it. But like outside of that, if you're just the regular world, it's not there yet. Right. And I'm trying to think of like what this Ethereum treasury thing, it's like, it's got the hype, it's trending. It's trend. That's the word I'm looking for. It's trending. I mean I'm scrolling through crypto X and like all I see is different people talking about how they want to do an ETH treasury. And we obviously, this year especially there's the, the Bitcoin treasury and you know, Jack Mallers has one, Anthony Pompliano has one. You know, you said it last week, the perfect meme is Oprah. You get a car, you get a car, you get a Treasury. People, people are wondering, you know who like are we starting an ETH Treasury? Is that something we need to announce? But bit digital shifts entire treasury to Ethereum becomes one of the largest ETH holders among public companies. And then there's just so much to kind of break down and talk about this because this seems to be, and, and on a. Well, what's your thoughts, Brent? I mean it's, it's a much smaller scale dollar amount than what like Michael Saylor's doing and the other people are starting to do. But like this is, this is the ground floor. Like you don't announce this type of stuff without years of research thought, especially for these public traded companies. You know, there's the paperwork around it and getting the board involved. Like this isn't something that you come out and announce today and then like eth's gonna drop 20% and then you know, three months from now at the end of the year, eth's down 20, they go, you know what, never mind, never mind. Like that's not how this stuff works. This is a long term commitment for these type of companies that again are publicly traded.
- [40:29]
Brendan
No, you're right, this is a long term strategy. And Teva, see if you can find this clip in the meantime. But there's a clip of Tom Lee, I think it's a clip or a quote from Tom Lee saying that Ethereum is at its Chat GPT moment. And he compares the Nvidia chart saying Nvidia had its chatgpt moment where chatgpt came out. Nvidia is kind of just like waffling around, not doing a lot consolidating. And then like you zoom out a couple years later and Nvidia is just sky high because he's saying what the stable coins are now to ethereum is what ChatGPT was to Nvidia. And we can show these charts after this. But there's A really, it's a beautiful example explaining what tokenization and stablecoins and DeFi and all this adoption is doing now. And people are not aware the impact that this will have on Ethereum. And it's probably going to be a whole lot stronger and more bullish than people are anticipating. And there is a common like mistake in the world of finance where people overestimate what everything is going to do in the short term and they underestimate what's going to be the result in the long term. Meaning that, you know, a lot of the times people shoot for this instant gratification, exaggerating what it can do in like the immediate time frame, but then they underestimate what it's actually going to do in the long term. And that catches a lot of people off guard. So I see that you got this clip.
- [42:00]
Tevo
Yeah, I don't know if it's the exact. I know he mentions it in this clip and it's four minutes long. So let's, let's just play a minute here. I know he's going to mention kind of what you were talking about. I don't know if it's the exact clip we're looking for, but we'll get the gist of it. So we'll play a minute here.
- [42:12]
Tom Lee
Yeah, really in 2025 is the financial services industry and crypto are converging. And it really started with stablecoins, which is the chatgpt of crypto.
- [42:23]
Brendan
Right.
- [42:23]
Tom Lee
Because it's viral adoption by consumers, businesses, banks and now even Visa. Underneath the stablecoin industry is Ethereum that is really like the backbone and architecture of stablecoin. So it's important to create a project that essentially accumulates Ethereum to essentially protect and have some influence on the network. So that's why we're creating this treasury vehicle to buy Ethereum. The more Ethereum that's accumulated, the more secure the network is. And I think it's also sort of the architecture that future banks will have. You know, when Goldman issues a stablecoin and JP Morgan doing it on Ethereum as a layer one blockchain, they're going to want to secure it by staking Ethereum. So we're trying to get in front of that by creating a Treasury.
- [43:12]
Tevo
And just to kind of build off of the beginning of the show here, BlackRock, you know, has 1.5% of the Ethereum network. So that's a, you know, we're laying breadcrumbs here. And again, you got to make your own choices. It's not Financial, you know, in financial guidance for you specifically. But like, when we build these shows and we're showcasing what Tom Lee is saying and then we're showing you, oh, you know, Goldman Sachs and blackrock are going to want to buy up the network and stake. It's like, oh, well, look, BlackRock already owns 1.5% and people obviously know at this point we love Tom Lee on this show because we bring them up all the time. But I can go pull a clip. Maybe another time we could show it. Like maybe we'll, I'll promise this when, When Ethereum hits 5K, we're going to go pull the Tom Lee clip of him on CNBC. Eight years ago, I think Bitcoin was at like 4 or 5K and he was saying everybody should have 1% exposure to Bitcoin. And people on the desk laughed at him. They're like, Tom, come on, 1%. He's like, well, I just think it's a good idea. And he explained why basically, you know, eloquently, like he does. He's like, I just think it's a good thing for people to do. It's just 1% exposure, you know, and then at 5K and here we are at 110 and people literally laughed at him at the desk and now they're asking him, you know, what's next? So he's kind of telling you, you know, where he's going. And I know he's still a huge bitcoin bull as well. But again, sorry, I see you have something up with the Chat GPT moment with that graph you were talking about.
- [44:39]
Brendan
Yeah, this just represents what he was saying. He's like saying stable coins are the Chat GPT moment for Ethereum. This chart shows the Chachi, the Chat GPT moment for Nvidia. So here you can see, I'm going to zoom in on it. You can see that, you know, Chat GBT came out right here. What was everyone doing? Ah, you know, it's cool. It became popular here. It existed and it was all around right here on the screen. But people didn't fully price in. And that's like, I hate the term. This is priced in. That is priced in. Like, it is my least favorite term in all of financials, besides maybe the PE ratio. But not to rant about it, but it wasn't priced in. People didn't understand the impact it was going to have. They didn't understand the AI revolution and all the stuff that would come along alongside this and the demand that would surge. This is painting the exact same picture. And this is what they're trying to say is like this all right here, this is the moment that we're in right now where there's all this adoption, all this stuff happening, like finance is changing and it's all being built on Ethereum. And, you know, we're just in this area and what people are not anticipating, what they're not pricing in, is what is going to come after this and the ripple effects that this is going to cause for us to go upwards. So this is again, just saying, hey, stable coins are at the ChatGPT moment for Ethereum. And this chart shows what happened at the ChatGPT moment for Nvidia. And so, yeah, I mean, we're at a big crossing point here, TiVo. There's a lot going on and I tend to believe in this and this is a big shift. If you look at me, from the last year, I've been saying the opposite. I've been saying, I don't want to buy Ethereum, I don't want to get exposure. And it hasn't been until probably two months ago that I have started looking at it again and really being convinced of the argument after it bottomed out. And I think, what was it, like 1500 or 2K or something where it bottomed out after that, I was like, okay. And we started seeing this news come out and now we're just getting infrastructure galore, but we'll cut to the chase. And there's just a lot happening.
- [46:43]
Tevo
Yeah, well, and it's, it's so imperative, that chat GB moment of being user friendly, right? It's like, okay, this is going to be used. What do we need? We need Nvidia chips. It's like, you know, there's definitely people that had the case for AI and I guess let's start with Nvidia. There's people that had the case. Oh, this is a AI company. You, you won't, you don't understand. AI is the future as the future. But before this, Nvidia was a gaming company. And then there were, there were bulls that kind of painted the AI case. But people couldn't conceptualize it right. They couldn't imagine what AI was. Nobody knew what chat, gtv, GPT was until it happened. Then you see that hockey stick that you just showed? It's like, oh, there's, here's that use case for AI that everybody was saying. And it feels like you could kind of compare that to Ethereum. And just crypto in general is, you know, we've Been here touting, you know, for years. Oh, the future of finance. We're the future of finance. Everybody's like, yeah, yeah, sure. The future of. Okay, yeah, yeah, I get it. And then BlackRock's building a stablecoin on Ethereum. Oh, Robin Hood's tokenizing stocks and giving them to Europe worldwide. What's it built on Ethereum. Oh, Goldman Sachs is going to build, you know, their stablecoin on Ethereum. Oh, oh, that's the use case. Now, things that I understand, these big banks, these institutions that have been around for longer than most of us have been alive are now using Ethereum, thus validating the future of finance argument. Thus, wow, do I have enough Ethereum? That's, that's the train of thought that makes sense to my head for the average person trying to digest all this.
- [48:13]
Brendan
Definitely, man. And I saw that Ryan put a good comment in just saying, like, guys, I'm beyond excited. Like, this is what, you know, we've been working for for six plus years. And this is what we've been saying is like, tokenization is going to bring in and unlock trillions of dollars in capital and a lot in like stable coins and defi. And like, this stuff is going to revolutionize the way that we look at finance and eventually these big players are going to come in. And we've been saying this for years. Maybe we sounded like the boy crying wolf at some points in the bear markets, but now you look at it and like, it's all unraveling and we are at that moment. And if you're not excited, I think that you should be, but I think the people who aren't excited are probably the people who missed out catching in at better opportunities. And, you know, now they might just be a little bit sour about it, but yeah, no, tons of stuff to be excited for. And Ryan is, is just. I'm curious, dude, does Ryan have access to our note she. To our rundown sheet? Because Ryan's spitting out the topics before we can even get them out.
- [49:15]
Tevo
I know, I know. He knows. He knows how we think. He knows how we think. We have another video here just to kind of get us. No, I wouldn't say we go off track. It was a little bit of a rant there, but I thought it was, it was good. Is, you know, again, just to keep building on this Ethereum. And I don't think. I guess I'll say this and let's kick this topic around. We're going over the what about in the sense of like, I don't think bitcoin, obviously it's not dead. It's leading the way still. But I think with the, this one big beautiful bill that passed, it's kind of sadly, you know, we obviously have been pro crypto. We wanted the pro crypto administration, and we have it. But at the same time, if you're, if you're being honest with yourself, the one big beautiful bill, all the spending's up front. The spending's up front, and we'll figure it out on the back end, which is what we've done for 25 years and why our debt is unsustainable. So I think bitcoin still has this story as, as digital gold. Like, I don't want people, at least in my opinion, like, for my own portfolio, no advice for anybody else is like, I'm not getting rid of my bitcoin to go buy a bunch of eth, just making sure that you have the right exposure. But I think it is interesting listening to Tom talk about eth, but he's still a bitcoin bull. But that we have this clip here from the bit digital CEO on why they switched from bitcoin mining to an Ethereum strategy. So I, I got about a minute clip here, so let's play that and then we can kind of discuss. And I think this will be kind of wrapping us up on the ETH talk for the day, but just for the day, because I don't think this story is going anywhere.
- [50:40]
Brendan
Yeah.
- [50:43]
Bit Digital CEO
Look, coming from an institutional background, I've been in this space for many years, and I feel like many investors felt like they missed on the bitcoin wave. Ethereum represents that next wave. And, you know, we're not just buying a coin. We're putting our reserves into a protocol that powers trillions of on chain activity. We believe Ethereum. We believe Ethereum is becoming a new category for a strategic corporate asset like gold and treasury bonds once were, but with one difference. Ethereum is alive. It moves with technological innovation. It has tens of thousands of developers on chain, more than any other blockchain, including Bitcoin or Solana. And also Ethereum captures real activity, real economic activity. As stablecoin volumes grows, as tokenization becomes a thing, the fees generated by that activity flow back to eth holders. And Bitcoin does not participate in that feedback loop and that value loop. We believe Ethereum is where economic throughput is frankly heading.
- [51:54]
Pat McAfee
We have seen growing adoption recently, but what else is.
- [51:58]
Tevo
So again, there's the thought process, pretty well thought out, kind of just summarizing what we've all talked about. But again, is this going to be the last. Yeah, the last Ethereum topic here is Sharplink Gaming. The ticker publicly traded right on the Nasdaq I believe is sbet. So Sharplink Gaming discloses holding a bunch of eth. They become the second largest treasury and then just again just trying to showcase where this is all going. This is Sharplink ringing the Nasdaq ringing the bell yesterday. So this is the talk of tradfi for this week, at least for sure is the Ethereum treasury strategy. So like I said before the video, I don't think this topic's going away. We're certainly gonna be covering it. But the more, you know. Brendan, any last thoughts on. On Ethereum treasury strategy?
- [52:54]
Brendan
No, you know, they're going to continue to accumulate more. I think that we're just at the starting point of a lot of this and yeah, I mean there's going to be more Treasuries, they're going to continue to buy. And again I here's my bold prediction. Again. Nothing that we say here is ever financial advice. I and I've told Tiva this. I think Ethereum is on its way back to $4,000. Right. We have a lot of, we have several resistance levels before there several different, probably take profit opportunities. But you know, I'm of the belief that gradually speaking, this isn't going to be this week, this isn't going to be even this month. You know, we're zooming out here, but I think it is on its way back to $4,000. And that's where I think that the, the arrows are pointing.
- [53:35]
Tevo
No, I love it. I couldn't agree more. But let's, let's keep going down, moving forward. So we got Bitcoin focused VC firm Ego Death Capital closes $100 million second fund. Brendan, what were you seeing from, from this article here?
- [53:49]
Brendan
Yeah, you know, it's just, it shows and it proves the point that everybody wants in on this and they're raising more capital. They're trying to get their hands on this and they can't get enough exposure. And that's what we're seeing with this over here, is there. You know, everyone's trying to get as much crypto exposure now. Why are they all trying to do it now? Why isn't this happening later? Why wasn't this happening before? It's because we're at a very unique situation. We're at a very unique point in time and everybody wants to get in and that's all that this was highlighting, just saying like, look like these people are closing a hundred million dollar fund all to back startups that are crypto based, that are bitcoin based. And you know, it's a big deal, it's a lot of money. So positive money is flowing in. And I wanted to show this because money is flowing in in a number of different ways. Right. It's not just ETFs, it's not just treasuries, it's not just this or that. Like we're seeing money just get thrown at the space and be raised at the space at a, a wild rate. And I don't have these numbers in front of me right now, but you know, I'm sure I can pull them up. But even if you go and you look at like the crypto lending market for example, that has been something that has been skyrocketing in terms of like TVL and what's happening over there. I'll throw this up on the, the screen real fast. So let's look at this for example. You know, AAVE has been a really big leader. If you look at AAVE and what they've been doing over here, I mean just destroying the charts in terms of TVL just skyrocketing to new all time highs. If you go and you look at the entire lending space, which is what we're looking at here, the lending protocols, TVL, this is also surpassed from what we've seen in 2022. And as of like yesterday this is hitting new all time highs above almost $57 billion in TVL. So like crypto money is coming in from everywhere. A ton of the different industries are growing. There's a lot of different stuff to be paying attention to. But the big point that we're trying to make with this info is that it's not all just coming to one niche, one source, one space. Like this stuff's happening all over.
- [56:09]
Tevo
Yeah, and the tokenization play is people are coming out of the woodwork after Robinhood's announcement last week. So SOFI adds investment opportunities for pre IPO firms. Same deal, you know, OpenAI, SpaceX, Epic Games basically just joining Robin Hood and Republic offering retail, retail traders here. And, and this stuff's, you know, going to be tokenized just like Robin Hood. And then same thing with Franklin Templeton has tokenized $800 million in assets across multiple blockchains. So it feels like Robin Hood was definitely the first to announce it in such a big, big way. They always crush it with their live streams. It seems in Announcements. But this is stuff that, you know, other firms have been working on as well, and I think I gave that take last week. Is, you know, Robinhood's definitely the first to announce. Others are going to be working on it, but it'll be interesting to see. You know, I think we know Franklin Templeton. We've had them on the podcast last week, which. Which will be going out soon for you guys to listen to. But just the fact alone that they're having their team come on the Crypto 101 podcast means that they're thinking about this, they're building this. Right. They have the teams and structures in place. So. And if you follow Franklin Templeton on X, you know, they have some fun crypto stuff from time to time. And kind of my question was, is the old guards, is J.P. morgan and Goldman Sachs and Citi, are they. Are they ready for this transformation? Obviously, I'm sure they have teams inside, you know, the building per se, that are working on this stuff. But is the UI going to be as good as Robinhood? Do they know kind of how to use this other. Where are they going to go? Are they going to go stable coins? Are they going to do assets? It's really fascinating. It feels like it's like a race almost. Right. And when these people announce, you kind of only have one chance in a way to announce new products and launch them. And if it doesn't work, it's tough. Right. Especially when others are ahead with working products in a new space.
- [58:15]
Brendan
Yeah. I mean, and like you said, we just talked to Franklin Templeton. Keep an eye out for that podcast. It's going to be coming out here and, you know, in the not so distant future. But, you know, in regards to tokenization, this stuff isn't going anywhere. It's being built. It's continuing to become more and more of a theme. Robinhood's doing it, BlackRock's doing it, Franklin Templeton's doing it. I think Vanex doing it. Like, everyone has started getting their hands into this, and whether you know it or not, like, this is becoming a reality. And, you know, we were just talking to JJ Kinahan, another podcast that we have coming up here in the just in the not so far future. But, you know, I've seen people, especially on, like, cnbc, they've been against, like, tokenization, saying, this is stupid. It's synthetic. It doesn't give you actual ownership. You're just trading the price action. I said, you know, here's my. Here's my hot take. And JJ Wasn't arguing this. It's. I've seen this argued on, like, different, like, centralized news sources and stuff and tradfi markets. I don't think retail investors care. I have never heard a retail trader say, I want to buy this because I want the ownership. I want the voting power. No, they're buying an asset. I think 99% of us were buying assets because we want to make money on it. Right? We want to make money. We think that whatever that asset is, is going to appreciate, and that's why we get exposure so that we can capitalize on the explosive upside that that asset could potentially have. That's why people get exposure. I think that that is what people care about. And, you know, most of us, they don't care if you don't actual get. Actually get the asset. They don't care if you actually get the voting rights and all this stuff. They just care if they make money and if they can make money off of it. And that's what tokenization does with a lot of these, like, stocks and other soft assets. But. But yeah, I just had to add that in there because I've seen a lot of people, like, I don't know, knocking at the idea of tokenization. It's like people don't care about having voting rights and stuff. They just want exposure.
- [60:10]
Tevo
Yeah, well, exposure's coming, especially in the forms of all these ETFs. But the most interesting thing was last week when the sole ETF went live on us on air. And we were wondering, usually at least the way they did The Bitcoin Ethereum ETFs was kind of bulked. It, you know, went live with multiples, so there were no winners. But there's been some speed bumps here for some of the other Solana ETFs. I guess this was an expected delay from friend of the program James Seyffart. But fidelity seems stuck in the mud here. So waiting on some movement from. From the sec. Just, I don't know, just interesting. Again, we bring you the news. This is kind of the back half of the show, but just want you to be aware that some of these sole ETFs are stuck in the mud while some are live.
- [60:52]
Brendan
Yeah, yeah. So, you know, I mean, hopefully we get them all approved. I think this was a little bit of an unforeseen event. You know, usually when we get ETFs, it's like, hey, they all get approved at roughly the same time to make sure that there is no uneven playing field. And we also thought this was going to come a little bit faster because of the way that there was this back and forth with the sec. Looks like there's still some, some pain points that need to be figured out. Not a big deal. It still looks like they're going to be coming, but there is a little bit of, a, little bit of a, of a postpone that's happening here. A little bit of a delay.
- [61:30]
Tevo
Yeah. And some of the other ETFs we see coming down the pipeline, like this one is the, the crypto blue chip etf kind of tokenized money market fund here, but kind of. Basically the idea is putting together Bitcoin Eth, Soul, XRP and Croft. So again, I guess this is happening over the Dubai Financial Services Authority. So it's. Do you know, do you have the details on this? I guess I don't really under.
- [62:00]
Brendan
No, it's just, again, everybody wants in on this. You know, we're seeing different forms of tokenization. We're seeing it happen all over the world. You know, Dubai is very clearly said we want in on this. They want to be a part of this. They already own a bunch of. I think it was Abu Dhabi owns a bunch of the BlackRock ETF. And, you know, when you look over to, like, what's happening in like, Dubai and UAE and a lot of those like that area, it's like there's a ton of money over there, ton of wealth, and they want in on, they want in on all this stuff. So that was the big take.
- [62:35]
Tevo
My apologies. I just got confused because I know the Trump, you know, the Trump team at World Liberty Fi and all that, they're doing their Bitcoin ETFs and they have all these other filed ETFs with the SEC. So I just, my brain, when I saw that, just went sec. And then I'm looking at the, the Dubai Financial Service Authority, and I had a little brain fart there. So my apologies. Yeah, I mean, again, this whole tokenization effort is about opening up, you know, not just crypto. I mean, crypto's already open to the world, but the tokenization of stocks and bonds is just opening up that liquidity around the world. And that's, again, the. Seems to be the ChatGPT moment for crypto in a way to kind of get people using crypto without them knowing in a way. Right. Like I want to buy, you know, Boeing stock or whatever or Nvidia stock. And I, I don't live in the U.S. you know, maybe, maybe they're crypto native. Maybe they're not. But if they go and use Robinhood's kind of tokenization app, you know, they're using crypto without even really knowing it. And that's something that I know we as a team have talked about for years, is, you know, it's going to take something like that to get the masses using this stuff. And I know we kind of leaned a little bit towards everybody's thought, oh, it'd be gaming, maybe be gaming. But now it looks like financial institutions are taking it by the horns here, which is interesting that we thought it might be gaming. And it still could be, in a way, because, like, Nvidia, again, started as that gaming chip, right? And then look how it's morphed into the AI chip. So you can always have the technology morph into something that you didn't see coming. But the. The excitement is here. And to wrap us up, Brendan, bitcoin's not just the future. Crypto's not just the future. It's also culture. So I got a fun little video here. We have a cornerback in the NFL. His name's Sauce Gardner. He plays for the New York Jets. He was doing an interview on the Pat McAfee show, and he was wearing a Satoshi Nakamoto shirt. So I kind of saw this. I was like, all right. Yeah, like, we got an NFL guy. He's all in on bitcoin. Maybe he's going to talk about taking his paycheck in bitcoin. That wasn't the case. Apparently, bitcoin's culture. So let's take a look.
- [64:41]
Sauce Gardner
Shout out to Satoshi Nakamoto. Is that. That's bitcoin. That's bitcoin on your. Your chest, your shirt. Oh, I don't know what this is. I don't know what this is. My. My stylist had got it for me, and he's there like this.
- [65:00]
Tevo
This is.
- [65:01]
Sauce Gardner
I think it's satoshi. So it's like a. It's a popular brand. You know, everybody really wearing it, especially in, like, in, like, the fashion. Everybody. It's that dipstool. It's at dibs, and it's really going up, going to the moon. That's awesome. I thought. You see the shirt. That shirt is sweet. Let me go ahead and put that thing on. You look awesome.
- [65:23]
Tevo
That was epic. I mean, he had no idea. He had no clue.
- [65:27]
Brendan
Did he say it was a brand or something?
- [65:29]
Tevo
Everyone, this brand. This brand's fire right now. Everybody's wearing it.
- [65:33]
Brendan
Yeah, well, he's not wrong. You know, everyone's all about it. Some. I used to always wear my crypto shirts on these rundowns and podcasts. I gotta bring them back out. But he's not wrong. Crypto is in, it's popular, people are wearing it, people are talking about it. And yeah, global presence, man.
- [65:49]
Tevo
And then again, it's, it's on a need to know basis. I think after that, I think a lot of his friends are gonna educate him and teach him. But Sauce is doing okay. He's got a four year deer, four year deal at $33 million with the new York jets, so he'll be just fine. But I think, I think some of his friends will probably tap in and educate him after seeing that clip go viral and maybe he'll be back in the news soon. Being a bitcoin bull, who knows?
- [66:13]
Brendan
You got to become a bitcoin holder after that. After that happens, you got to own at least a little bit.
- [66:18]
Tevo
Yeah. And then I'll do my. An hour four, Brennan. An hour four. We survived the technical difficulty, but what an episode. I'll sign off first. Excited. What an episode. Excited for the future. And just an absolute thank you to the chat. Palm Beach Peter Ryan, Matt Baylor Bear Crypto princess. Absolute wall to wall live chat this, this week. And it's something that, you know, I've said a couple times by now, but we're going to continue to grow it. On the back half of July here and into the fall is more lives. So if it's something that you're interested, we hope you'll, you'll join us on the YouTube for those lives.
- [66:53]
Brendan
Absolutely. You know, like TiVo said, we appreciate everyone that comes in here and joins us. Isn't clear already. We love doing these things. We have fun with them, we laugh, we make jokes and it's awesome to be able to do all this, especially as the crypto market is succeeding and doing well and moving upwards. So to everyone that's in here live in the chat box, we appreciate all of you, feel free to ask questions at any point in time. There's no such thing as a stupid question. And everyone that watches this back, which is the majority of listeners on a bunch of different platforms, we appreciate all of you coming in here as well. So if you are on are on any of the other platforms, check us out on YouTube as well. We have all sorts of different tutorials and podcasts and market updates and you name it. We are constantly putting out different kinds of content over here and of course if you really like the content, then check out the links in the description down below and get plugged into our community. You can get a lot more insights, you can get a lot more details. And of course, over there you can. You get it all first and you get much more like immediate access to us. So check out the links in the description down below. Thank you all for watching and we'll see all of you at the same time. Well, actually, maybe not next week. We might be taking a break next week, so. No, we're gonna.
- [68:04]
Tevo
We're gonna get one in. We'll have some time to get one in, but it might be a different time, so just. All right, yeah, stay. We'll. We'll maybe tweet it out. Stay on the YouTube, but we'll get one out. We'll have plenty of time together.
- [68:14]
Brendan
We might have one in the person where me and T, side by side for next week.
- [68:17]
Tevo
Yeah, exactly. Exactly.
- [68:18]
Brendan
All right, everyone, thank you all for watching and we'll see all of you soon.
- [68:34]
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- [69:32]
Pat McAfee
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