← CRYPTO 101
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- [00:00]
A
Foreign. Welcome back, everyone, to the crypto market rundown, where we talk about everything that's going on in the great 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 here we are again with another crazy week in the crypto markets. Every single week we come back, we kick off the episode and we're like, man, things are volatile. What a volatile start to 2025 we've had so far. And we're continuing that theme. We're seeing quite a bit of volatility this time. It's mainly on the altcoin side, and that's primarily how it's been since the start of this year. But altcoins have been extremely volatile. We've seen some upside, but really a lot of downside. The year has started and we've been talking about some of the catalysts that have kind of been creating that environment and kind of been creating those circumstances. And today we're going to talk a little bit deeper about this. So we want to talk about what's happening in the altcoin market. We want to take a look at the charts first. We're going to be talking about a few of these catalysts that are actually pushing the markets downwards, as well as a bunch of positive catalysts that, of course, can help show price back to the upside. So if that interests you, make sure you stick around for the entire length of today's episode. I mean, seriously, we have 32 new states, or 32 states in total, that are looking at adopting some form of. Of crypto standard. We have standard charter, which is saying, hey, we think bitcoin can hit $500,000 in the next three years. They're talking about more sovereign wealth funds looking at bitcoin outside the United States. And there's really just a lot of really positive things that are happening that we think that everyone needs to be made aware of. So before we do all that TiVo, how are things on your end? I know you've been here, there and everywhere since we last chatted, but, man, I mean, seriously, you were on, you know, halfway across the world. You're in the Pacific, you were skiing the mountains. How are things looking?
- [02:14]
B
No, it's been. It's been a fun two weeks. We didn't miss an episode. So credit to us. Yeah. From Hawaii to the. The mountains of Park City in Utah, back to Tampa, Florida here. But shout out to, we, we had some, we, we had some friends along the way that were interested in listening to the podcast. So shout out to the Aloha Ski Shop in Park City and, and then a couple other people I met in Park City along, along the way that said they're going to check out the pod. So if you're listening. Thank you. But it, it feels like, yeah, we, we kind of have already broken down multiple times how, you know, the easy money with the Trump presidency is, is. Has probably come and gone and now you got to kind of get. Put on your detect detective hat and see, you know, what part of the markets interest you the most. Whether that's bitcoin, whether that's altcoins. I know me and you were talking when we were making the sheet today, and we're going to cover that soon. Is, is the meme coin meme coin mania has, again, maybe an opinion has taken a turn for. I don't want to say the worst, but it's taken kind of a little bit of a negative turn over the last couple weeks. We're going to cover that. But, but there's plenty of opportunity. So there's plenty of opportunity. It's just, you know, again, what's your risk appetite? What are your goals? And, you know, how locked into the markets are you? Are you an every tick kind of guy every day, every hour? Or are you more of a set it or forget it or somewhere in the middle? It's. Yeah, it's that time to do the research and, you know, educate yourself and the people that listen to this show every week. I think now know that this is a great place to come to kind of get the pulse of the crypto markets. But we also have a lot of new listeners. So, you know, if the markets aren't doing exactly what you were hoping or thought, but you found this podcast, you know, keep coming back because I think, you know, this is part of the education and research process that can help you make good decisions that will help you down the road.
- [04:09]
A
Yeah, no 100%, man. And I think what better way to actually kick us off than by going straight to the charts and taking a look at what's happening with price action, because that seems to be where a lot of the attention is. Right. You know, why are my assets depreciating? You know, are they going up? Are they going down? That's pretty much what people are concerned with first. So let's go ahead and just throw up the charts, take a look at what's happening over here with bitcoin first. And we can work our way down through a lot of these altcoins because, I mean, really what we saw was yesterday was pretty nasty. We saw about a 5 to 10% drop across the board of altcoins. Some a little bit less, some a little bit more. But we've seen about a 20 to 30% pullback yet again, kind of coming back down towards the lows of, of the average altcoin, especially around that, that mid cap area. So we'll get to those in just a second.
- [05:01]
B
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- [06:25]
A
But if we're looking at bitcoin, bitcoin is finally coming back down towards the low end of 90k. And this has been an area that we've been talking about for months. We've been saying, Hey, 90k is this massive support for bitcoin. We've tested this area nearly 10 times over the last four months, which means that over the course of November, December, January and now February. We have tested this area so many times and this has been the absolute bottom of support, really just the primary support ever since we came up above 90k. And you can see that bitcoin has been ranging back and forth between 90k up to around 110k, back down to 90k, back up towards 110, back down towards 90. And now hopefully we're trying to find a bottom in here. And that's kind of what I want to talk about first and foremost. So if we look at bitcoin, we've noticed here that since this real like absolute low was put in around 89k on January 13, this was like kind of the pivot point. You know, it immediately led to a new all time high. You know, it was a very slight all time high, but we still pushed up to a new all time high nonetheless. Well then after kind of hitting this, we sold back off to the downside, but we hit a higher low of $2,000. So we went from a low of 89k to a higher low of 91k. Then we went back to the upside. Now we're coming back to the downside and we're trying to put in a higher low here of $93,000. So that would mean that we ended up $2,000 higher after the first swing high or after the first swing low, and then another $2,000 higher if we are going to find another local low in this area. And so what this would do is, you know, if we start connecting these lines, you can see that I have a couple arrows on the chart, but I'm looking to see a consistent pattern here of support climbing higher and higher and higher. Because what that could indicate is that the bears are actually getting weaker. This means that upon every sell off of, you know, every time the sellers are trying to take control of the market, they are not getting as far down as they were previously. And that ultimately is a good thing to see for any kind of buyers. They're going to look at this and say, hey, the bears are not as strong as they were the last time they sold off. And then this time around, they're not as strong as they were the last time that they sold off before that. And we're starting to see this pattern of higher lows. So I'm keeping a close eye on this TiVo saying, Man, I want bitcoin to not only hold above around 90, 91k, that's really the floor that I want to see bitcoin go at the Absolute lowest. But I would even prefer to say, hey, I actually want to see Bitcoin hold above 93, 94K, that would be the ideal zone because that would pretty much imply that, hey, bitcoin's forming higher lows and the bulls are retaking control of the market. The kind of short term analysis here, you know, before we go back to the big picture, is bitcoin is in a bit of a squeeze. You can see that on the high end, right around 98k. This has been the ceiling for about two weeks on Bitcoin, whereas the low end is right here around 93 to 94k. So you can see that there's been this closely knit range right underneath 100k that is only about $4,000 from, from top to bottom in terms of price action. So price has been kind of squeezing inside here. We know that we have this climbing level of support, a big level of support at 90k, but we also have a pretty decent sized level of resistance right below 100k here. And that's what's creating this kind of squeeze range that bitcoin is in right now. And I don't see this holding for an extended period of time. Again, we've already been in this for almost two weeks for the bulk of February so far. And I don't see us sitting around in between 94 and 98k for another two weeks after this. So I think things are going to start accelerating once we see bitcoin moving outside of this range of 94 to 98k again, roughly speaking, right there on that range. And once we see a break to the upside, well, hey, I think bitcoin shoots back through 100k and I think that we see acceleration back towards that ultimate goal of the all time high. Now if we break down here and we start cascading down, we again have support right around 9091k. But if we crack that, that's where I think bitcoin has some real room to the downside, probably pushing into the low 80s, high 70s. And that's not something that people necessarily want to see. Again, I do think it's probably the least favored outcome just because we always like to zoom out and say, hey, the trend is your friend and it has been for a couple years on bitcoin. So when in doubt, zoom out, look at that trend and, you know, just understand that the macro is still very much in our favor and that we have a lot of things that are still looking favorable. And we're going to talk about some of Those regulatory catalysts and maybe some of the frustrations that people have had and why we're seeing just a little bit of a dip here. The other thing is I think that bitcoin is in a unique spot. It has been holding value for two weeks. And if we go and we look at the average altcoin, you know, let's just look at Avax again kind of trending down here over the last couple of weeks. You know, near stacks, imx, you know, all these other charts kind of coming back down to these multi month, maybe even multi year lows depending on the cryptocurrency that you're looking at. Meanwhile, bitcoin's pushing like weekly lows instead of multi like month or even year lows. And bitcoin's holding value a lot better than altcoins. So, you know, if we go and we just briefly look at what's happening over here with Ethereum, again consolidating beneath the 200 day moving average. Solana, beneath the 200 day moving average. There are a few players out here and I want to give some shout outs. XRP well above its 200 day moving average right alongside Bitcoin. And then Sui also trying to find support at this 200 day moving average. Probably something to keep an eye on. Never giving financial advice, but you know, I think these are ones that are technically overperforming in comparison to a lot of other alts. And then of course I brought this one up before, I have no exposure here, but Mantra just new all time high after new all time high after new all time high tivo and it just doesn't stop. I was looking at this with one of our other analysts just yesterday, Rohit, and we were looking at it. It's up like 40,000% in the last year and a half or something. I mean, it is just ridiculous. And so, you know, if anyone follows this project closely, I loosely do. I know that They've landed like $1 billion tokenization deal over with some countries I think in Europe and Asia and they've been doing a lot of RWA work over there. But if you are a lot more plugged in, in with Mantra and you know what's going on, you know why this thing's shooting up 40,000% to a seven and a half billion dollar market cap. Let us know we want to get more plugged in. Maybe if you have a connection we can bring them on the podcast and we can talk to them about what in the world is going on there. Because there's a Lot of just again, crazy stuff that's happening. But I think the big kind of, and maybe a loser is a, is an overstatement, an exaggeration here. But the big loser on the week, I would say is Solana. Seeing a lot of fud, a lot of drama. We're going to get into it, but Solana seen a pretty stiff sell off from around 205 bucks all the way down to around 160 bucks. This marks a 22% drop in the price action of Solana breaking through some crucial support levels through the 200 day moving average. And ultimately, I mean this is the lowest point that we have seen, Solana since pre election days. So you know, the lowest point that we've seen since the very, very start of November 2024. And you know, with that the whole Salon ecosystem is kind of fallen down deeper here. We can look at Jupiter again, fallen down to the lowest point that we have seen it at since September of 2024. Radium falling down since the lowest point that we've seen since December of 2024. So not nearly as low. But we are seeing the whole Solana ecosystem get hit pretty hard here. Radium was one of the best performers in this market. Now it's down about, or it did drop from top to bottom around 35% just in the last couple of days and now it's pushing down about 54% from its all time high. Whereas this was really leading the market for a long time and something that we were covering on. So again, lots of volatility when it comes over to the altcoin market. And you know, again, one of the big catalysts of why altcoins are getting hit here has to do with what's happening On Solana and TiVo, you referenced this in the very beginning, but there's been all sorts of, I mean, dare I say chaos kind of happening on Solana's blockchain. It feels like there's just like a lot of rug pulls going on there. And the latest one was, was devastating, but it was Libra.
- [15:26]
B
Yeah, not, not the funnest thing to talk about, but yeah. So the drama going on on Salana and we're going to give you a high overview here. And then my goal for the podcast network is to bring on Brian and Joe later this week and get a full breakdown from them. Because when we, when we talk about being in the trenches, nobody on our team is more in the trenches than those guys over at the Crypto Mavericks and momentum money makers. So we gotta, we gotta Hear from them. The high level overview is that this Libra meme coin was launched and, and it was basically pitched as a national token for Argentina. And so that was kind of the branding behind it. And interestingly enough, the president of Argentina, Malay, retweeted Libra coins. So there, there was a tweet, you know, announcing the launch and then the president of Argentina retweeted it. So then you could go into the debate of, you know, is a retweet and endorsement this or that, you know, I guess you could debate that. However, it's the president of a nation. So people are going to take that pretty seriously. So everybody piles in and, and then, then it gets rugged out and then the tweet disappears. And then funny enough, hours later the tweet he reposted again. So it's like it's a double dip on the president of Argentina's Twitter account engaging with this Libra token. And you had people piling in and obviously people selling and rugging and it was a classic meme coin pump and dump. And, and then, then there was some. And this is why I want to bring Brian and Joe on because then it's, it started this whole investigative reporting on the timeline. Led, led. No, other than Dave Portnoy brought on, you know, this guy Hayden. So this guy Hayden was kind of the person who was helping create and launch this token. And then he, he sounded pretty shady from the Dave Portnoy interview of, you know, not really having the answers needed to kind of clear his name, in my opinion. But the whole thing, the whole thing was pretty, you know, pretty shady. And you know, now Malay saying that he had, you know, no knowledge of what the project was. He thought it was just kind of a, you know, supporting something with Argentina. So, yeah, a lot, a lot more questions than answers. And so if you boil it down to that, you know, people are in the, it was launched on Salana. So you could say like, okay, the natural step is in this meme coin, you know, game right now is people are selling their Salana or transferring their Salana into all these tokens and then they're getting rugged. So then we're, you know, we're basically losing a lot of liquidity in Salana. So that could be part of the downward trend of Solana right now. But that, that's all touch on. I want to leave a little, you know, tidbit there. I'm going to try and get Brian and Joe on for maybe something tomorrow or Friday, get that out for the weekend. So we could do a full breakdown of the meme coin market because there seems to be a little chaos right now. And whether it's good chaos or bad chaos, you know, I know I try to, you know, bring our listeners some clarity around that, so I'm going to work on that. But I think that's a good level overview of the Libra situation that has caused some negative price action in Solana.
- [18:51]
A
Yeah, I mean, exactly. You know, there just is some chaos there. Unfortunately. It cost investors, you know, hundreds of millions of dollars. But, you know, and I think it has to get sorted out eventually. You know, there, there needs to be some sort of repercussion for doing things like that. And you know, I think that there will be. It obviously will take time, but it is causing a little bit of fud. Right. You know, that is the definition of fudge. Fear, uncertainty, doubt, these kind of crazy situations that unfortunately lead to events like this. Now I still think that the fundamentals of Solana are great and what I hate the most about this is that Solana feels so strong and all of those, those true projects that are built on top of it are getting negatively affected. So, you know, you look at just Solana itself, you look at Radium, you look at Jupiter, you look at Jaido, you look at, you know, anything else that is building on Solana just for being in the Solana ecosystem, those are now negatively getting affected. Those are now selling off. And I don't feel like that's fair. Again, should Solana be going up after an event like this? Probably not. I understand a little bit of sell off, but to the degree that we're selling does seem a little bit blown out of proportion. I think the answer here is that if people are tired of rug pulls and they're tired of all this stuff, well, I think that we need to create maybe safeguards in place or maybe just don't trade the meme coins that can do stuff like this. You know, unless it's a fully docs team and they're more reputable. You know, maybe that's what needs to happen is that people can't do this anonymously or I don't know, I don't have all the answers, but I think that the, the answer to this is not, hey, let's boycott the Solana ecosystem because I think there's a ton of great stuff going there. I'm probably a little bit biased in saying that because I'm a Solana holder, but I think that the answer here is not let's boycott Solana. And let's sell everything off. I think the answer here is let's hold the people accountable and let's not participate in the stuff that is likely to do this in the first place. A lot of people over the past year have been just all on board with meme coins going from one to another to another and there's tens of thousands that are being created every single day. But unfortunately we've gone from the meme coins being this really fun community driven thing to now just being with a little bit more rug pull driven. And I hate to see that and I think that it can change. But Thibaut, what do you got for us?
- [21:25]
B
Yeah, I thought this was interesting from friend of the program, Matt Hogan of Bitwise. He gave a keynote speech at a retail investing conference and his three big takeaways, as you can see on the screen, are 1/3 of the audience owned crypto, 1/3 of the audience was considering allocating to crypto soon and 0% heard of Libra. And interestingly enough, I kind of, I read this and chuckled at first, especially with the comment below there of apparently Malay hasn't heard of Libra either, which is the president of Argentina. But it makes sense because like if I, if I told my, like my dad now and my mom are like interested in, in bitcoin, they're always like, oh, is bitcoin's dad. My dad will be like, oh, I saw bitcoin went down or I saw it went up. If I asked my dad who's now tracking bitcoin price per se, you know, hey, did you hear Libra this weekend? He would be like, no, my brother didn't hear of Libra this weekend and he's, you know, interested in the space. So I think it's, you know, for people like us that are in this space and tracking every move and especially trying to bring the news each week and especially if you're on X in the crypto sphere, on X, like you're going to hear about this stuff. But I think that as much as people, there's an argument on two sides. It's like, okay, well new people are being onboarded through meme coins and they're getting rugged and not coming back. I tend to lean. Maybe that, that's not true is the first thing. If you're onboarded onto crypto, I'd be more surprised if the first thing you're downloading is Jupiter Phantom wallet so you can go buy library. Maybe I'm wrong, maybe I'm wrong, but I, I think it's kind of the crypto casino that, you know, it's, it's, it's, it's greed, right. It's like people see like, okay, if I'm early and I get in early, you know, maybe I can get that 2, 3, 4, 10x and then get out and just like, you know, I was in Lake Tahoe this weekend and I went to play a little craps and I like to play craps because I like to roll the dice because I feel like I'm doing something. I know I'm gambling. I know the odds are in my favor, but I like to do it. And so I think there's a little bit of the crypto casino in the meme coin market right now. But I don't necessarily think that that's new. You know, new people to crypto getting onboarded. But that's just my thoughts.
- [23:45]
A
Yeah. And I think we also have to understand that these are two different kinds of investors. When you look at who's investing in bitcoin, in the Bitcoin ETFs and who is trying to play the meme coin market. Two completely different kinds of investors. Their investment thesis is different, their goals are different. You have short term versus long term. You have more fundamentally driven verse stuff versus like emotionally or social media driven stuff. And the people who are, who are buying in and trading meme coins are probably not people who are dollar cost averaging in the bitcoin and partaking there. Again, two completely different sides. And I think that's why we've seen bitcoin relatively unaffected by this is because the people who are investing in bitcoin are just a different group of people entirely. Their goals are different, their investment thesis is different. And I think that needs to be paid attention to and it's unfortunate. And you made a good point on this, that the money that is leading into these meme coins and things like Libra are other altcoins. People are selling their Solana for these meme coins. They're selling their other, their other altcoins so that they can get exposure to these assets. I'm sure some people are, you know, maybe selling their bitcoin and doing a transfer and doing a swap. But it's just again it's two different things. So I think that needs to be understood. We have and at the same time I think kind of looking at the sell off, we can't blame it all on Salon. It's not fair. What happened was unfortunate, but I do think that, that there's also been a little bit of frustration around people not getting any kind of instant gratification. And what I mean by that is that if you look at the crypto space, there were a number of people saying, hey, I'm going to make a trade. I'm going to place a bet that we are going to see crypto ETFs get approved. We're going to see more altcoin ETFs immediately under the new administration. We're going to immediately see this idea of a strategic bitcoin reserve. We're immediately going to see all these SEC lawsuits against crypto companies get dropped. And that's not something that we're seeing immediately. And that's the key word there. And you know, in David Sacks in one of his recent press conferences was saying, hey, we're exploring the ideas of this stuff in the first hundred days. Well, that means that we probably won't even get any of this coming to reality until later after that. And so that kind of pushback in the timeline, people not saying, oh, why am I not getting this day one or week one even, why am I not getting this in month one? Well, I think that this is more of a year one approach, right. When we get this talk of sovereign wealth funds investing in Bitcoin, the bitcoin strategic reserve, more altcoin ETFs, you know, all these different things, I think that these are all still very possible and likely to happen. But instead of being a day one or a week one thing, I think it's a year one thing. Some might happen a little bit sooner, some might happen a little bit later. But there were investors who were betting on the fact that we would get these close to immediately. And I think the fact that we didn't get it, which again, is a little bit silly thinking that someone's going to come into office. And with wars going on around the world and inflation and all these crazy things being like, the number one thing that we need to do is, is bitcoin. And as much as I wish that was the case. Right. I have exposure. You know, we got to be a little bit realistic here and be like, hey, there's a lot of stuff that needs to get addressed before we start, you know, throwing around all this bitcoin legislation. And yeah, so again, I think all that's coming, all those positive catalysts, they didn't just go away. There's. I think they're still coming our way. I was looking at the, the likelihoods of a lot of these ETFs getting approved. Solana Cardano, XRP and Litecoin are the main four that are next in line and they're all still really high. I think there was a 90 or 80 to 90% chance for Litecoin, an 80 to 90% chance for Solana. I think Cardano was at like 60 to 70. I think XRP was somewhere pretty high up on that list, around 70 to 80% chance of getting approved this year. And those are all super, super high numbers. So the odds are that we do see more altcoin ETFs. We just might not get it immediately.
- [27:58]
B
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- [29:04]
C
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- [30:04]
B
We have a friend in the chat here, Lou, Too fresh. And he asked. So we kind of answered it. But he was asking, you know, any word on the sole etf, but. So we kind of gave him the answer there. But he, but he also, he also said that he sold his. He sold his soul to play Blinko. And I think that's the perfect, that's the perfect summary of people in crypto right now. Like, waiting. Yeah, waiting for the, the big catalyst of the soul etf. And while you're waiting, you're hitting the crypto casino. So I thought that comment made me laugh from Louis.
- [30:39]
A
Yeah, that, that fits into the narrative of what, of what we've been talking about. So, Lou, we appreciate you tuning in. To give you, I guess, a deeper answer of what you were asking for, of an update on the soul etf. We have some big deadlines that are coming up here. You can see on the chart, it's a little bit of a dated chart, but you can still see the deadlines coming up right around March 4th, or. Excuse me, March 11th is going to be the next big date to watch out for. So this is going to be the second deadline for the Solana ETFs, and that's going to be coming up on March 11, and then the next one after that is going to be right around 6, 9. So we have a couple of big dates coming your way in the not so distant future. Just under a month away, but we're going to find out more information then on March 11th.
- [31:29]
B
Yeah, no important dates to keep intact. So I think the, the other thing that we've been seeing on the timeline and talking internally has been the FTX payouts have begun. And so for those who might be new, you know, new to listening, just to set the stage, FTX was the old crypto exchange led by Sam Bankman Fried. Most people would know and recognize that name. So when you know, when that fraud happened and they went bankrupt, you know, if you had tokens on that exchange, you know, you couldn't access them. And so through the bankruptcy, there's now a repayment period that is beginning. And so sadly, if you had one bitcoin on the exchange when it happened, you're not getting the bitcoin price that you see today at 94,000, it would be what the price was. So this is kind of more of a meme than anything, but it kind of paints the picture of what you, what you'd be getting right now. So FTX payments start today, and you get the 20, 22 prices. So you know, 1, 1 bitcoin at 18k, 1 soul at 15k. I'm sorry, $15. One sold. $15 is a devastating depreciation which again kind of highlights what self custody can do for you if that's something that you're interested in. Because not your keys, not your coin coins. Classic, you know, classic saying in the space. However, and this is kind of the meme side of it, you know, one ETH will get you $2,500. So you know, obviously the ETH bulls are waiting and it's something that I think we've talked about is, you know, is this is the Solana FUD going to lead maybe people back to ETH and give, give ETH a little pump. But you know, just, just, just something to know that I guess. Do you think that the repayment is good in the sense of its liquidity or is it more going to be some more selling pressure around that? What are your thoughts, Brendan?
- [33:28]
A
You know, for whatever reason people immediately think, oh, this has to be selling pressure when that just is not always going to be the case. It's easy for people to look at anything that was a bad situation and just imply that it has to be the worst possible outcome. Well, what is the worst possible outcome? The worst possible outcome is that everyone gets all these funds back and then they mass sell them off onto the market. Well, what is the best possible outcome? No one sells anything, right? They just reinvest it. We have more liquidity and they hold what's probably a happy medium in between. Well, some people hold, some people sell, you know, some people trade for different altcoins and I think that's the likely scenario that we get. We have seen so many sell off events, ones that are equally as big. When you look at a lot of these crypto companies or crypto exchanges that have gone bankrupt. The big one was Mount Gox. We've seen so much FUD circle around this and guess what? It minimally affected the market. The FUD affected the market more than the actual token disbursements and the money disbursements. And I kind of see this working out the same way. I think that the fear of this, the uncertainty of this can affect the market in a more negative way than the actual people getting, getting the money back. So I'm glad people are getting their money back. I think that, you know, they deserve it. They were in a awful situation. It's a shame that they're getting back a dollar amount of what it was at the time and not the cryptocurrency that they actually held. I'd be pretty salty if I had a bitcoin that I bought at 18k, and in 2025, I'm getting 18k back instead of the one Bitcoin coin that I owned. But I guess pickers can't be choosers.
- [35:13]
B
Yeah, that's. That's true. I guess it's 18 is better than zero.
- [35:18]
A
Yeah.
- [35:19]
B
But, yeah, that's a. It's a tough situation. But I think that again, when you get in the weeds and you're dancing around the FUD and whether you're, you know, you're waiting for the big catalyst for price movements, hopefully to go upwards, or you're dealing with the Solana Casino, don't get lost in the weeds of all the maybe negativity in the FUD when there's so much positive stuff going on. So, you know, you brought this up the other day with all the states. You know, again, this isn't all the states that are going to have some type of bitcoin legislation, but it's been proposed and it's in the system and the number's 32. So 32 states with. Sorry, no, go ahead. This. This was the way you brought up. So please tee it up for us.
- [36:01]
A
Well, this is crazy because we were talking about this on the rundown like a week or two ago, and we were like, man, dude, there's 10 states that want to adopt bitcoin legislation. And we went through all the different ones and what they were looking at, and we were like, the, the note that we ended on was, guys, in a year from now, in four years from now, this number could be 20. It could be 30. Thirty. And we're here a week later, like, what, one, two weeks later, and we're already at 32 states. When, when I first saw this, you know, Bryce brought it up to me and my response was like, is that real? Like, I had to double check it because I told him, you know, we literally just covered this a week or two ago and the number was 10. And now here we grow, or here we go, and we're at 32 different states. I mean, this is growing at such an exponentially accelerated rate. I was not expecting this again. I was expecting 32 by the end of this year. By the end of maybe like Trump's presidency or something like that. In the next couple of years, I was expecting this number to be. To be higher. Granted, these aren't 32 approvals. Right. It's not like 32 states now officially have adopted Bitcoin. They're doing the buying. They're adding it to pension funds, they're adding it to retirement plans. We're not there yet. You know, this is just saying, hey, 32 states are looking to adopt this in one way or another. But still, it's a huge leap from what we saw even just two weeks ago. I mean, go back, watch the interview that we had, or watch the crypto rundown that we had. And again, I forget if it was last week or the week before, but you can go over us actually talking about this stuff, and I think that's one of the benefits TiVo of us doing this is that we are bringing the topics to you before it's mainstream. We're bringing these ideas, these news articles, all of these catalysts that are happening behind the scenes. We are bringing them to you before they're popular. We were talking about these Bitcoin ETFs and state states adopting Bitcoin before there was 10. Then we brought it back up when there was 10. Now we're bringing back up when it's 32. In the future, it's probably going to be even higher than this. But we are trying to bring all this stuff to you, whether it's altcoin related, whether it's bitcoin related, whether it's fundamentally driven. Our goal is to bring all of this to you for free early, so that you can know what's going on before it's popular and before it's popping. So, again, you know, I don't want to toot our own horn too much here, but we hope all of you do enjoy this stuff. I know me and TiVo, we love doing this, we love talking about all this stuff, but, you know, there's just a lot going on out there. And, you know, another big thing that I saw was that Standard Chartered is talking back about what could happen with bitcoin and bitcoin's relationship to some of these sovereign wealth funds. Now, the United States basically came out and said, hey, we should have a sovereign wealth fund. And there's a lot of speculation that Bitcoin would be adopted into that and that there would be a little bit more of a bitcoin interaction there. So they had this analyst that was saying, hey, you know, after Abu Dhabi's recent investment in BlackRock's Bitcoin ETF, we could start seeing this happen in a bunch of different sovereign wealth fund ETFs. And for reference here, I mean, Standard Chartered is a massive Tradfi institution. I think they have $135 million or not billion, $135 billion in assets under management. I saw something they're expected to grow up to like 200 billion in the next several years. So they're this huge player and they're saying, hey, we think that this can continue to, to grow again. We saw Abu Dhabi's investment into the BlackRock ETF and now what we're looking for is for that kind of ripple effect to continue on. We'll probably see that happen in other countries in different parts of Asia and Europe and North America and all over the place. And the final note that they left us off here in this article was them saying, hey, bitcoin is maintaining its path to reach 500k in the next three years. And that was the note. And this was coming from Geoffrey Kendrick, who is the global head of digital research or digital asset research at Standard Chartered. And he said bitcoin is still maintaining its $500,000 trajectory or forecast by the year 2028, which is just three years away. So if you're looking at this and Bitcoin's at what, 93, 94, 95,000. Well, that would mean that bitcoin would need to go up 5 times from under 100k to 500k to reach that goal. So I don't know about you five, you know, whatever that is, four or five, 600% is, is not a bad return over the next three years. You know, when you look about getting a 500% return, a 600% return, anything like that, an asset as large as bitcoin, that's a pretty good return rate. Especially when we're talking about like, hey, these indices over here, NASDAQ and S&P are having record 20% back to back years. What if we had like 200% back to back years on Bitcoin? What if we had 100% back to back years? Like that's the kind of thing that's possible over here. So it gets me excited. There are so many catalysts that are still happening out there. And I do agree with him. I think a lot of this stuff happens and as it does, you know, we're just going to continue to see things appreciate. So we're ending things off on a good near. On a good note here, TiVo got.
- [41:49]
B
Got one more thing. So this is actually something I saw this morning. I didn't realize this was happening today, but I couldn't find an article that wasn't like paywalled. So I just, I'll share the Google search here, but President Trump is attending a conference today and we were talking about how the, you know, the, the Saudi wealth fund is buying bitcoin. This is a Saudi backed conference in Miami. There's going to be, you know, all different talks, obviously energy and a couple other things around investing maybe in America and you know, that kind of deal flow that Trump's trying to get for investing in America. But bitcoin is on the docket. The Saudis will be there, Trump will be there, and a friend of the program, Michael Saylor will be there. So I think that's an interesting combination of people to be in, in some rooms discussing business down in Miami today. So, yeah, saw that on the news this morning, did some research to it and, and also found that Michael Saylor is going to be there and bitcoin is on the docket. So I thought, I thought, you know, again, ending on a positive note, you know, look through the weeds, find the research and, you know, strategize accordingly.
- [43:04]
A
Yeah, maybe that's the catalyst that we need. I guess time will ultimately tell, but we'll report back next week with, with what's happening over there. And yeah, I mean, there's just a lot going on. So, you know, overall, everyone stay optimistic, stay in touch with what's happening. There are a lot of good things happening, a couple bad things. Finally, you know, we've been talking about how it feels like it's just been good news after good news after good news. Well, occasionally something bad happens, but we're going to report on that as well. So if you like the content that we make, again completely for free, all we ask is that you consider hitting that like button. You hit that subscribe button, you follow us along. And if you're listening in on Spotify or Apple podcasts or Audible, leave us a review as well. We'd love to hear from you. We love reading through those and we love being able to interact with everyone. So thank you all for watching. And until next week, we're going to see all of you at the same time, same place.
- [44:11]
B
Ladies and gentlemen, we are now boarding Group A, please have your boarding passes ready to scan. If your phone is cracked old or was chewed up by your Chihuahua travel companion, please refrain from holding up the line. We ask that you kindly not be that guy and instead simply go to Verizon and trade in any phone from their top brands in any condition on any unlimited plan for the new Samsung Galaxy S25 with Galaxy AI with new line on my plan. Additional terms apply. See verizon.com for details.