← CRYPTO 101
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- [00:00]
TiVo
Foreign.
- [00:10]
Brendan
Welcome back to the crypto 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. We do all the research and then we package it and bring it to you completely for free. And this week we got another killer episode in store. How can we not, you know, with the way that the crypto markets are moving here, with the way that we're seeing bitcoin push back to all time highs, altcoins start to accelerate. There's a lot of hype behind this. Tradfi starting to recover. And so we got a lot of things to talk about. But just to give everyone a little bit of a glimpse of as to what we're going to be speaking on today, like we said, Bitcoin is pushing back to the all time highs. ETF flows for both Bitcoin and Ethereum are skyrocketing. We're seeing some really big CPI data come out and this could affect the interest rate market here in the States. We want to talk about why that specifically affects the crypto markets and even kind of zoning that in how this really impacts altcoins more than anything. Well, we have the $1 trillion UBS bank saying that their rich clients are now buying Bitcoin and cryptocurrency crypto continues to follow the M2 money supply. Ethereum interest is on the rise. Coinbase is joining the S&P 500. Robinhood is back in the news, acquiring significant crypto players in Canada for a near 200. I think it was a $200 million deal. We'll check back in on that. And Trump came into the market here saying buy once again. We've seen this happen three times now and we want to talk about the historical and also technical impact that this has had on the markets and how it's been a really positive thing. So welcome back everyone. I know that's a mouthful and it's a mouthful because there is so much going on. And the good news here is that the bulk of the catalysts are all positive. So hope everyone's buckled up. I hope you're all strapped in and you know TiVo, I know we are. We've been going back and forth what feels like for a month now and I don't think any kind of harness could have, could have fastened us up tight enough for this, this rocket ship Movement that we've had back to the upside. And, you know, we're not only seeing it in crypto, which I think crypto has been one of the biggest beneficiaries of this, but again, now we're starting to see TRADFI recover as well.
- [02:45]
TiVo
Yeah, it feels like we almost went skydiving, dove out of the plane, parachuted down, and then immediately hopped in, like, Blue Origins space rocket, and then just like popped right back up into. Into space. It's been a. It's been a fun month. Yeah. Just the exciting part, I know I hammer it home all the time, is we do this week in and week out. So I know whether we're live on the air or talking amongst the team or just even me and you while we make these rundowns and sheets, it's like we're definitely in the trenches and making moves. And I thought we. For this last kind of volatility run here, I thought we gave kind of a great picture of breaking it down, what was going on, what was happening, and then again, giving our opinions. While it's not financial advice, you know, we were very, you know, consistent on, like, hey, there's a lot going on here. A little bit above our pay grade when it comes to kind of the politics of it, but, you know, zoom out. The future's bright, especially when it came to the regulations and moving forward of the crypto industry in the US while TradFi basically wanted to burn. Burn it all down and thought, you know, the. The shelves are going to be empty and there's a recession and the world's ending. So if you. If you've been here for the last, you know, month plus or years, you know, I think, I guess you understand kind of what we bring to the table every week. And if you're new, which, again, I know we put out an episode Friday, I had Brian and Joe on, but we recapped kind of bitcoin hitting 100k before we went into the. The kind of momentum money maker side of the meme coin stuff. And that that was our most downloaded episode of the month in, like three days, which just showcases you that everybody piles back in when the price action goes high. And Brian and Joe are extremely interesting and fun, but again, just a psa. The people are listening again, when the prices go up, stick with us, man. Stick with us through the volatility because that's, you know, that's where the opportunities are. Have you ever wanted to trade bitcoin but haven't dared tried with plus 500 futures, you can trade crypto without the hassle of opening a wallet. With just a few clicks, you can register and start practicing with their free and unlimited demo. See a trading opportunity. You'll be able to trade in just two clicks. Feel ready? You can move to real money with as little as $100 once your account is approved. And the great thing is that in addition to crypto, Plus500 gives you access to a wide range of instruments like the S P500, NASDAQ, gas and much more. Explore equity indices like energy, Metals, Forex and beyond. With a simple and intuitive platform, you can trade anytime, anywhere. Experience the fast accessible futures trading you've been waiting for with +500. With over 20 years of experience, +500 is your gateway to the markets. Visit us. +500.com to learn more. Trading in futures involves risk of loss and is not suitable for everyone. Not all applicants will qualify and this is not personal financial advice.
- [05:40]
Brendan
Plus 500 it's trading with a plus 100%. And you know we were able to push beyond 100k. We went all the way up to a new swing high of $105,000 on Bitcoin. So we like to kick things off with the charts and just kind of look at what bitcoin is, is doing here because what we have is just a fantastic run. From April 9th up until this most recent high, Bitcoin was able to move almost $32,000 or almost 43% to the upside in just over one month's time. It took it 33 days to do this maneuver. It's a really significant move. We bounced off the low of 74K. We rose back to around 105, almost 106K. And now we have bitcoin consolidating up at the highs again. Now why is this a big deal? Well, as we've talked about in previous episodes, Bitcoin has broken almost all of its primary resistance levels. In fact, the only resistance level that bitcoin has left is the all time highs. You know, right around 100-809. That's about it. You know we look at this and just to do the short recap, we've talked about this and saying bitcoin has shown us all of the evidence that it has put in a reversal. And I can't remember if we said that a week ago or two weeks ago, but we said look at this, it bounced off its previous all time high. Tested it as support formed, the double bottom broke above the 20, the 50 in the 200 day moving average formed, higher highs, higher lows, consolidated above the AV bot from the high, which is right around the 200, broke into its previous consolidation range and now it continues to the upside. We saw the short term golden cross happen here on the technicals and what all of this means, even if you're not a technical guru, this basically is saying all of the bullish signs that we would need for proof of a reversal have happened. It's a really good thing to see from a structural point. And bitcoin is now pushing back to the highs. And it really does look like this is just a matter of when, not a matter of if anymore. And this is something that can, you know, realist. We'll see. But I think realistically it is now a possibility that we see new all time highs by our next episode. So that's something to keep your mind on. Over here. Again, we don't have a crystal ball. We can't predict the future. Maybe it takes a month, who knows, maybe it takes three months. But I would say that the way that we're looking now, it looks like we can hit new all time highs within the next week or two. Because if you just look at the structure of bitcoin and kind of how it's made these moves, we bottomed out, then we rallied. Consolidated rally, consolidated. Now we're rallying and we're already about a week into this consolidation and I would imagine that the next move up is going to repeat what we've already seen a couple of times in the past here in just in the last month and a half on bitcoin. The big thing here, TiVo, is that altcoins are rallying. Rallying might be an understatement. You know, they fueled the rocket ship, they are ready to go past the moon, straight to Mars and things are doing some really, really nice maneuvers over here. So Ethereum kind of leading the charge as it's coming back in here. Just after we met last week, you know, this thing was pushing back to the upside. And so Ethereum's back in the conversation. It had, I think, what was this move? It had about a 55% move to the upside and around a one week period. And everyone's now starting to turn, turn their head and look over at this again. Now, Ethereum rallying is a really good thing for altcoins as a whole. And there's some other good data points that we want to talk about here with Ethereum that's kind of again, fueling this altcoin season argument. It's a big conversation point that we want to dive a little bit deeper into. But you know, just kind of looking broadly across the board here again, solana pushing new highs 184 bucks. XRP pushing new swing highs of 2.65 cents. Rallying from that area below 2 bucks, which it was just that not too long ago, a lot of these other coins I saw someone in our live chat box said ondo again, another thing that's rallied pretty hard off the lows. You look at it doing a near 70% move to the upside just over the last month and a half. And then there's all sorts of like other meme coins. You have things like BART coin out there, which is up nearly 600% from its low in March. Another one that we followed over here and I lost. It was hype. You know, this is another one that's just going parabolic in terms of price, up 170%. People have been riding pangu and virtuals and a lot of these coins that are just up hundreds of percent at this point. And so again, the altcoin market really is starting to heat up once again. And it's coming back into the conversation. And I think that one of the big reasons that this is happening is from the CPI report that we saw come out. So, you know, let's get away from the charts. We know things are heading up, we know that they're heading up and to the right. But let's take a quick look at what's happening here with cpi. So yesterday we had the CPI report come out and it came in lower than expected. Now, as TiVo said, people have been trying to say doom and gloom. The world is ending. We're gonna crash. We're gonna go into a brutal depression. So far, all those doomsday preppers for the markets have been so wrong. They've gotten so wrecked. And the, the one of the biggest, I guess, points that they were trying to make is these, this is, this whole situation, this trade war is going to hike terror or it's going to hike inflation. It's going to get so much worse. Even the Fed was coming out and saying, well, we, we, we can't cut rates because of inflation. We don't know what's going to happen. Well, now what we get is we get month after month of inflation reports TiVo. And everyone says, oh, it'll be next month. Oh, it'll be next month. Oh, it'll be the month after that. And now we're getting to the point where it's like okay, well, we're in May, we're almost halfway through the year and inflation is coming in lower than expected. And so this is such a good sign to see. It's such a great economic data point because this has a two sided approach. Number one, if inflation is getting lower, that was one of the biggest fears that people had. This is bringing risk on investors back into the market. Right. People who are nervous about this, people who are just uncertain about the market entirely, they're coming back into the market now. They're saying, hey, we just had a killer earnings season. We had good jobs reports, we're having good inflation data, CPI is coming in lower than expected and the markets are rallying. The trade war looks like it's coming to an end. We're striking deals with all the big names that we need to, including China. And so these risk on investors are coming back into the market. Now I would say that the, the average risk on investor. This impacts altcoins more than it does Bitcoin. Right. Bitcoin is going to go up, I think, regardless. Risk on, risk off, doesn't matter. We already saw bitcoin was performing no matter what. I think risk on investors coming back to the market specifically impacts altcoins more. So bitcoin. Right. We've seen them sell off in fear. And I think that as these risk on investors come back to the market, altcoins are really going to be one of the big beneficiaries. Now the other side of this coin is that if rates or if CPI is falling, if inflation is falling. That has been the big argument from Jerome Powell, the chairman of the Federal Reserve, as to why he's not going to cut rates. He's saying, hey, you know, everything looks good, but we're not sure about inflation. Inflation target of 2%. He keeps saying that we want to make sure that inflation's heading in the right direction. Well, now we have it heading in the right direction. So what if we have a risk on investors coming back? We have all this good economic data and we're getting rate cuts. Well, we've seen that, you know, rate cuts can be a really, really good thing for the crypto markets in the past. So we're looking at this. There's a lot of things that are going our way. And you know, even Trump was tweeting out about this TiVo. Did you see that? It was, it was kind of funny. But he, I mean he made some, some decent points.
- [14:32]
TiVo
Yeah, you know, just, he's, he's clearly not a big fan of Powell. And he kind of takes his comedic jabbing approach, which, you know, I'm sure some people find funny and others really don't like, especially that level of government. But I think kind of just building off your point, like, if you're just looking at the data and then we're, again, we're talking about the pure data instead of like we showed before, like the Michigan survey data of what inflation could be, where people literally, I believe that Michigan survey data is expected like 8% inflation when it's, you know, at the 2.3 and dropping. Right. And so, and there's certain points, if you break down the CPI data, like the two highest points is shelter and housing and car insurance. And so rates won't affect car insurance, but they will affect shelter. And those two, like those two items are basically out balancing the rest of the cpi. So it's like those items are really bad. And CPI is still falling, which is showing you that inflation's, you know, could, could be, you could make the argument inflation's falling like a rock. So there, there, there is a warrant, there is an argument for, for rate cuts. Again, I, I do, I do feel for pal in a way, like I think it should rate cut and the data kind of points to that. But I do feel for him because, you know, obviously it's Trump and he'll advertise it as art of the deal, right? Art of the deal. I'm negotiating, I'm saying, you know, 150 tariffs, now we're at 30, now we're at 50. And so, you know, but if your pal, especially everybody in the Fed, the team that, that works in the Fed there, you know, obviously there's probably some politics involved, just like the survey data, but you don't really know what he's going to do either. So the safest thing is if the economy and jobs are stable is to hold. So I, I do understand from his perspective of if there's no clear plan or Runway, then maybe he feels like his, you know, his hands are tied right now. I think it'd be great to see Powell and Trump meet. Now, the Federal Reserve or the chair never is supposed to be independent, so he's never going to call for a meeting with the president. But the president historically can call the chair in to meet, you know, obviously with tweets like we have up here on the screen that doesn't look like that would happen, or if it did, it might be more of a contentious meeting. But at the same time, you know, Donald Trump's a performer, right? We always talk about how, you know, the history and the TV shows and, you know, he's, he has that aspect of performative arts to him. But if we could get him and Pal in a closed room and like, hey, you know, you know, I'm just, you know, performing and this is my style, like, let's really talk about what the real plan is and maybe give the Fed some insight into the next three to six months, then I think Powell would have a lot more confidence to do that, you know, quarter bip or, you know, half bip rate cut that the people want or the data suggest that we could, we could handle right now. But I do, I feel for both sides because I think the data says the cut. But I feel for Pal like he's juggling the data plus the rhetoric, and I think that's a tough combo.
- [17:55]
Brendan
Yeah. Well, I understand not cutting up until this point, right. There was a lot of uncertainty. I don't want to blow that off. Right. There was all sorts of fears of what if, you know, what if things escalate? What if we don't get a resolution? What if we don't get trade deals? What if this does impact inflation? There was, there's so many variables to figure out. So I totally understand that part of not cutting up into this point. I think now that we're seeing this blow over now I would start to have a hard time understanding rate cuts not coming right, saying, hey, we're going to do two this year. Now we're seeing a resolution to the trade war. We're seeing good economic data, falling inflation. We're seeing a resolution everywhere and things are looking good. So I think now it would concern me if we don't get it. But again, I think we are regardless. It's a matter of like, is this going to happen sooner or later? I know a lot of people are saying, you know, is this going to happen in July or maybe like September? I think that's where people are kind of looking at now, because there is another side to the argument of like, hey, since everything's looking good, they can say, hey, well, the economy is doing so good without rate cuts, we don't need to do it. So there's always two sides to every coin. The main reason why we brought this up in the first place is because I think altcoins are going to benefit here. They're going to benefit from risk on investors coming back to the market, and they would certainly benefit from rate cuts. So people are looking at this, they're getting excited. We're starting to heat up and I think altcoins are going to be worth paying attention to. Again here is, you know, some are already up hundreds of percent off their lows from just a month, two months ago. So lots of big things here that are happening but you know, adoption is increasing as well. We can throw this up on the screen. The one trillion dollar UBS bank just said that their rich clients are now not only buying bitcoin but cryptocurrency. This is a big deal. You know, we can go through the clip if we want to, but this is a big deal. Again we're seeing these high net worth individuals and these banks come in and say hey as a bank we want to offer this to our clients. They clearly want to get their, their hands on it. And so the banks are providing it, the rich want it. And again adoption is increasing. So maybe we can just watch this. I think it's like 35 seconds and we can come back alternative. It's not just private market and also hedge fund, commodity and crypto. Interestingly recently when I talked to some of the traditional family offices, they were telling me they are now allocating, looking at allocation of 5% in crypto.
- [20:38]
TiVo
That's the reason why even traditional banks like us, I have to make sure we get our platform ready to take on this opportunity.
- [20:48]
Brendan
So I think definitely opportunity. Yeah.
- [20:54]
TiVo
And the opportunities there. Brendan, I think you might be on mute by the way for when you come back. But yeah, I couldn't agree more. The, the, the problem is like the old guard of what this used to be five. I mean even like, you could say even like two, three and, and then obviously five to 10 years ago, you know, people had their mind made up about crypto. But as it's matured, you even see like I think I saw something this morning. It was like JP Morgan just processed its first transaction on the blockchain. So everybody's coming around and at the end of the day you can believe in the tech, you could believe in the story of bitcoin, but you can also just believe in the business of it. So her key that he word there is opportunity. So she's not on stage saying oh this is the future just clicked like this is going to bring us to the promised land of, you know, financial stability and whatnot. She's basically saying the keyword opportunity is oh man, there's money to be made here. I got to scale up this solution so my business can profit from this. And so now I think it's such a no brainer. For every asset manager to, to dive into this because maybe you believe in it and you want to trade it and you think it's going higher or you just want to offer it because it's something, it's a product that you can make money off of.
- [22:12]
Brendan
Yeah, I mean she threw out that number, 5% allocation. Let's not forget that last week we talked about how Larry Fink, the CEO of BlackRock, the largest asset manager on the planet, $10 trillion in assets under management. Larry Fink said If we see 2 to 5% of institutional portfolio allocation, this would bring Bitcoin to $700,000 at least. That is massive. Again, 2 to 5%. If we see the upper end of that, we could push even higher. In fact, Schwab was even saying, hey, it's possible for, for $1 million. So I mean, if they're prepping this, they said, hey, that's what we got to do. That's what she said in the video. We have to prepare for the onboarding process because they're high net worth individuals want, they want this, they want exposure to the crypto market.
- [23:05]
TiVo
And yeah, I don't think that BlackRock is planning to launch Bitcoin ETFs at, you know, 50 to 75,000 if they don't think that it's going much, much, much higher for a product that they can sell. Right.
- [23:18]
Brendan
That's a great point. It's a, I mean, you're right, they're not going to launch it. And we, I think we said that like a year ago. We're like, they're not going to be going through all the regulatory, especially through Gary Gensler. They're saying we're taking these things through Gary Gensler who is routinely like had it out for the crypto market. They're taking it through him, getting them approved. And they're not doing all that stuff if they don't expect that it can do big things. And yeah, I mean overall, keep an eye price as BlackRock said. If.
- [23:49]
TiVo
And just, just want to clarify something I said in my rant earlier. So this just happened today. So $4 trillion asset manager JP Morgan Morgan settles first public transaction of tokenized Treasuries. So fun, you know, blockchain at work here. Tokenized Treasuries. And then obviously our social media manager gave a little nod to the pet rock. Comment by, by Jamie Dimon. So just wanted to clear that up.
- [24:17]
Brendan
What do you think he's thinking right now? JAMIE Dimon I don't think he cares.
- [24:21]
TiVo
I mean the guy's a billionaire and I, I, I, I really don't, I don't think he care. I guess he might get a little upset, especially when he's an online guy and he just sees all the old. Yeah, yeah, but I mean the guy's a billionaire, so. And he's. Yeah, you're right.
- [24:39]
Brendan
You're right.
- [24:39]
TiVo
The biggest bank in the world. So I don't think it's something that his brain like thinks about too much, if that makes sense.
- [24:46]
Brendan
Yeah, yeah, yeah, right. I mean, he probably has so much money he doesn't get paid to care enough, but I would imagine those memes are going to come back to haunt him at some point and he's going to be like, I dropped the ball on this one. Which it happens, right? No one plays it perfectly. We tried to put it out there and hope they would join our team, but JP Morgan certainly is on the side of crypto.
- [25:10]
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- [27:11]
Brendan
Things are heading higher and one of the big indicators of that is the M2 money supply. This is something that we've talked about several times over here. I think TiVo, you were the first one to kind of you or maybe one of the other analysts were the ones who put me onto its radar and what it was doing, right, it was seeing this parabolic move upwards before the crypto market did. And I think again we reported on this and we said, hey, this means that we should be close to a bottom and we should be heading back up to all time high soon. And so far, I mean we are following this thing to a tee. The next stage, if this plays out in correlation to the M2 money supply, which it has been, the next step would be a parabolic move upwards. This is saying 220k this year, we'll see. Right? You know that maybe that's a little bit optimistic. Maybe it's, it's underestimating what bitcoin can do. But again, if we follow the M2 money supply here, this would mean that bitcoin has room to rocket through all time highs, see a ton of growth and it's something to pay attention to. So for people who aren't aware of this, the M2 money supply or Bitcoin typically follows the M2 money supply with a several month delay. So what's happening here is that as the M2 money supply is fluctuating, you know, going up, down, whatever, Bitcoin tends to follow this several months behind the M2 money supplies schedule or action. So this thing bottomed out a couple of months ago and has been going parabolic since. And now we're starting to see crypto following this, this move back to the upside.
- [28:55]
TiVo
Yeah, it's something again, something to track. I, I love the, the timeline. Some people love to follow this to a te, some people don't, some people think it's stupid, but I don't know, it'll be, it'll be tough to argue if, if the, you know, that black line just hails the yellow line to, to new all time highs here in the coming weeks. So I just think kind of like you said, the top of the show, it's an interesting time for bitcoin because of where we are on the technical level and you're kind of our technical guru on the team, so you kind of see it in that way and then kind of me is like, I don't, I don't want to call myself like a sentiment guru by any means, but I'm online all the time and I'm parsing through all the, all the stuff that's going on in the crypto space online and I just find it like there's definitely a lot of people that are excited for sure. I don't want to take away from that, especially if you're buying the dips, especially if you're an ethereum bull. But I do. The average person isn't, is not around like they were the last time we did this 95 to 105 run. It's, it's not there. The euphoria is not there. And that's something that I think I talked about on Friday with Brian Joe is like, hey, I think the goalpost has moved for the next kind of euphoria FOMO phase. And you know, again, not financial advice. I'm literally just the Internet guy. But I think that's now in that like 115 to 130 window. You know, I think a lot of people came in at 95 to 105. We told you back when that was going on that you're going to be tested. Not only did you get tested with bitcoin price in the beginning of the year, then you got Liberation Day. And so that was like a double, a double gut punch to retail traders. And so I would say a lot of newcomers probably got shaken out or even if they did hold, like they're just, man, this thing I'm just holding too volatile. They're not excited, like they just basically got back to even. So, yeah, I think the goalposts have moved for that kind of FOMO euphoria for bitcoin, which is a good thing. Which is a good thing. So you can kind of hopefully accumulate here and then figure out where, where the next break is. And like you said, you know, we're kind of eyeing it to the upside, not personal financial advice. But I think that that's where the pain trade is. You know, like the trade's been higher for a while now because there's a lot of people that are off sides.
- [31:20]
Brendan
Spot on, man. Well, let's go back to Ethereum. Let's take you back to Ethereum. A, A lot of people have been interested in it once again with this big move. And I mean just overall interest is on the rise. This is kind of a funny metric that we, that we came across. But Ethereum interest is back on the rise. The, the caveat here is that people were spelling it the wrong way. And we saw Google searches for Ethereum spelled incorrectly coming up. Now this is just, I think the normal Ethereum trend. Is that right? TiVo. And we saw this back on the rise as well.
- [32:00]
TiVo
Say that again. You want me to pull up the regularly spelled Ethereum as well?
- [32:05]
Brendan
I guess either or. Which one are we looking at? Right here.
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TiVo
This. This is the incorrect spelled Ethereum.
- [32:13]
Brendan
Yeah, so this is, this is funny. It says Google searches for Ethereum spelled incorrectly, where it's eth E r and then I u m is spiking. And cointelegraph said that this is a signal that retail investors are flooding back into the market. Right. Because the, the average retail investor might not know how to spell it correctly, you know, at no fault of their own. But this is a pretty interesting metric that I came across and again, it makes sense. So Google search volume back on the increase. Something that we like to see still, you know, very far away from its highs of the past. But you know, in other news, you know, we have Coinbase joining the S and P 500. This was massive. If you haven't seen their stock price is going parabolic off of this news and they had a really good tweet to like show everyone that, that this was happening. It says, as the saying goes, first they ignore you, then they laugh at you, then they fight you and then they add you to the S&P 500 or something like that. Which I think is such a creative way to announce, hey, we're going to be the first crypto exchange ever, ever. You know, arguably the first crypto company, crypto solely focused company to get added to the S&P 500 as well. And so this is a big deal. You know, they're up there, MicroStrategy, you have a couple of other big players that are, that are fighting for these spots, but there's, you know, pretty strict requirements. You know, I think you have to go through four quarters of positive data to even get considered in this. And Coinbase has just been performing. They're one of the largest, if not at this point, the largest crypto exchange in the world. And so it's good to see that Coinbase is doing well again. Robinhood, who we're going to talk about next here, they're doing really well and they're doubling down on their crypto side of their business. And they've talked about this, they, they talked about this at their, their, their yearly report towards the start of the year and they highlighted that crypto has become a centric part of their business model. So in order to take steps in that same direction they went and they acquired Wonder Finance or WonderFi, which is, I believe, a big crypto exchange up in, in Canada. And so this came in and I don't have the exact number in front of me, but I think it was like a. What was it? It was like a 200 something deal. I think it's 200 million or 200 billion, probably 200 million. But it was a pretty big deal that came in. And it just goes to show that, hey, Robinhood is doubling down on the crypto market. They believe that this has not only become a central part of their services and their revenue, but they believe that this is a place that is going to expand again. Like TiVo said earlier, we're not going to see these companies doubling down on a sector that they don't think has a lot of room to grow. That's why we're seeing these deals come in in the first place. So Robinhood making once again a big bet on the future of crypto.
- [35:29]
TiVo
Yeah, I got, I got the number here is 180, 180 million to get access and start to build the Canadian product. They also acquired bitstamp back in, back in June last year, so they're definitely not slowing down at all. And yeah, again I, I think it's based around why would you be doubling, tripling, quadrupling down on a space if, if you don't see it growing? And so, and definitely Robinhood's not the only one. Right? Like you have Etoro or Tastytrade. I know we interviewed those guys and there's just, everybody's adding crypto products except for Vanguard. They haven't said anything recently about offering more crypto or even offering the Bitcoin ETFs, which they don't yet. But you got to think that change is coming soon. But. Well, I guess we'll, we'll wait and see. Talk about capitulation. That's what the guard needs to capitulate.
- [36:26]
Brendan
I saw something floating around saying that they are starting to open up to the idea of adding it in the next 12 months. I don't think it's been confirmed, but there are rumors circulating around out there that even Vanguard wants to, wants to open up the doors and maybe they won't have their own etf, but they could open up the doors to allowing trading of the other cryptocurrency etf. So we'll see, we'll see. I Think that that would be a really big deal. Obviously, they are one of the largest financial players on the planet. They're, I think in the top five. Right. You know, a trillion dollar asset manager. So we'd love to see it. And so we look back at all this data, we look back at all of these different points and again, things are pushing higher. Right? Things are looking really positive. We're seeing bitcoin push up, we're seeing altcoins push up. We're seeing good economic data, you know, trillion dollar banks like UBS and some of these other players are looking at crypto getting more involved. We're seeing it happen with JP Morgan as well. We're following that. M2 money supply, crypto exchanges and crypto companies are doing really well. Microstrategy, crushing it. Coinbase, crushing it. Robinhood crushing it. And a lot of these are just succeeding. And so it's at times like this that you got to ask yourself the question, should I be buying here? Right. That's what, that's what everyone's thinking, should I buy? We get asked it all the time, should we be buying here? Well, instead of traditionally just answering this question like I might normally would, I'm going to let someone else answer this question for me. So we'll roll the clip here and we'll come back right afterwards.
- [38:11]
TiVo
Rising market will do. Oh, it's going to get a lot higher. In fact, I told people five weeks ago it's a great time to buy.
- [38:20]
Brendan
I got criticized for that. Now they don't criticize me anymore.
- [38:23]
TiVo
People should have listened, but it's going.
- [38:25]
Brendan
To go a lot higher.
- [38:27]
TiVo
See, we've never had anything like this happen in. This is an explosion of investment and jobs and great companies are coming in. Never seen anything like it.
- [38:36]
Brendan
So there we have it. TiVo, don't take my word for it. You know, we roll this clip because a couple of weeks ago Trump came out and said, hey, I think it's a good time to buy. And then we had like one of the best days on record. And then he came out again last week. I think it was like, what, last Thursday? And you covered this in your rundown with Joe and Brian. And he said once again, hey, I think it's a good time to buy. And we just had this gigantic move to the upside and we keep having these news catalysts. And so now he came out here once again for the third time and said, hey, I think it's a good time to buy. And so hopefully people's ears are perking up and they're listening to this because, you know, there's a little bit of a trend here. You know, does he know something that we don't? Probably. I hear rumors coming back saying that when he gets. When he gets back into the States from his trip, he's going to announce more trade deals. So maybe that's why he's saying this. But I think, regardless, we're looking at the market and we're going to have our ups and downs, right? We're going to. We've been on fire here recently. Maybe we are due for a little bit of a retracement. So we're going to have our ups and downs. But again, the bigger picture as we're zooming out is saying things look like they want to push higher, not just for bitcoin, but for altcoins, for everything. Everything is looking really, really solid. And so I like what we're seeing in the markets here. Positive sentiment is coming back. And I mean. Yeah. Did I miss Anything there, TiVo? Are you feeling the same way, or am I. Am I out here?
- [40:08]
TiVo
No, man. I mean, I think. I mean, you know, better than anybody else when we talk off the air, how, you know, kind of bowled up me and you were. And back. If you go back to that Liberation Day episode or that week where we recorded two episodes because we needed to do an emergency episode, definitely there was panic in the streets, there was blood in the streets, red arrows down everywhere. And, you know, I know on air and off air, we kind of, you know, had to break down the news, but we were calm and we were. We were buying. So I think that, you know, you get to be excited and reap the rewards when you get price action like this. But again, nothing's a straight line up all the way to where you want to go, but it's kind of felt that way definitely over the last, what, three weeks, maybe two to three weeks. So, yeah, you got to take. Take a step back and evaluate. Evaluate the, you know, where you've been, where you came from, where you are, where you want to go, and kind of break down the scenarios. But that's what we do here. We kind of try to give you that every week. So if there's probably a ton of new people this week listening with all the price action. So stick with us and keep coming back every week and listen to the interviews and just keep educating. Because as you know, from Black Rock to Robin Hood to, you know, all these companies that are triple, quadrupling and doubling down, you know, this space is only going to continue to grow, especially with the regulation coming out of D.C. and this is probably the best team in the space to learn from. So you're in the right spot 100%.
- [41:40]
Brendan
And like you said, we do this every single week completely for free. So all we ask here is that if you like the content that we make, consider hitting that like button, consider hitting that subscribe button and check us out. You know, we make all sorts of other podcasts, market updates, YouTube tutorials, tips and tricks, you name it. We got all sorts of content that you can check out over here on our YouTube channel. We're also on Spotify, we're on Apple podcasts, we're on Audible, we're on a lot of these other sources. And if you're listening in on there, you can always go over to our YouTube channel to see all of the charts and images and videos that we're putting on the screen for you. And that's where they're going to be available. So thank you all for tuning in this week. We got a lot of great content heading your way as we kind of move into the second half of this month and we'll see all of you at the same time, same place next week.
- [42:43]
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- [43:41]
TiVo
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- [44:11]
Brendan
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