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CRYPTO 101
Crypto Rundown: Macro Volatility Hits Crypto...The Bullish News Under the News Flow
00:59:51
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- [00:00]
Host (possibly Joe or Brendan)
Foreign, Everybody. Welcome back to the Crypto 101 podcast presented by Gemini, your bridge to the future of money. And we had a good one today. A lot, honestly, a lot to talk about. It is one of those episodes where it's not necessarily a fun day as I introduce our, our guest for the rundown day, Brian. A lot of red out there, a lot of volatility, a lot in the news flow on the macro level, which is what we're going to talk about specifically. The macro level seems to be driving the markets right now, but we do have a ton of specific crypto content. The New York Stock Exchange is moving toward that 24. 7 trading. You heard it here first on the podcast a couple months ago when we saw the kind of smoke before fire there. But they're making some big announcements around chain links. You're going to listen to that, Brian. Brian Armstrong back in the news, kind of debating with the White House a little back and forth. I know Brian might have a take on that. And then he Talked about the 24. 7 trading for the stock exchange as well. JP Morgan talking crypto. Vanguard is talking crypto. And then we talked on the episode last week with Brendan about the Mr. Beast bit, mine deal. I personally, as somebody, as you know, been in the content space in a variety of departments, I think this is really fascinating. So I want to hear Brian's take on that. And then of course, the Momentum Moneymaker update, Momentum projects, meme coins, NFTs, maybe even some trading card alpha now that we're in the NFL playoffs with Brian, he was giving me a little tease, maybe for the show. But Brian, welcome. Excited to have you, even though it's a red day. But how are you, my friend?
- [01:39]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Hey, man, it's great. Love doing the show with you. I do remember the last time I was on the Rundown show, I was drinking the Kool Aid. I was loving life. I was like, hey man, we're. We're gonna get to 100k. We are like 97, 98,000 bitcoin things were just all falling into place. But we had a little bit of a pullback here and I'm not too happy about it, but there's some reasons why. I think we can really point to some clear reasons why.
- [02:03]
Host (possibly Joe or Brendan)
Truly not hard to find, but welcome to the chat. We're live on YouTube. We got Deb, we've got crypto low chiming in from Florida Grants out there, a couple others. We appreciate everybody tuning in. The first thing we'll pull up, just like Brian said. It's, it's not too hard to figure out what's going on here, but we do want to pull it up. It is quite the, quite the red day here and it has been across the board for crypto and the markets in general. I think I haven't looked up the, in the last hour, but I know the S P and The NASDAQ was down percent and a half, 2%. Bitcoin down almost 5. Ethereum down six and a half. I saw Monero is down like 25.
- [02:43]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Woof.
- [02:44]
Host (possibly Joe or Brendan)
Red day, red day, red day. And then the Fear and greed index is always a lagging indicator, indicator like we teach you at neutral 45 or 42 here. I guarantee you we'll be doing a live on Friday with Brendan. Unless this turns around quick, that's going to dip back into the fear. But any, anything on the coin market cap that you want to take a peek at, Brian, or just an overall.
- [03:04]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Take, I mean, Wolf, I mean solana down almost 12% on the week and you know, that's nothing fundamentally, but obviously when we get some news that's going to affect the macro markets and we're going to talk about those reasons, the stock market's down, crypto's down, crypto can get hit hard and typically the smaller the market cap, the harder it's going to get hit. We talk about that all the time. That Monero, you just pointed that out to me. That's, that's interesting. I'm not sure if you saw what was going on with Monero because I do like the privacy coin. Meta. Monero is an interesting coin, but there was like, I think it was like 252 million. I might be a little bit off. That was like hacked and then they were buying Monero to essentially wash it from the privacy side of things. So when we saw that big spike in Monero, I thought it had a lot to do with like, you know, a change from zcash meta over to Monero. But it seemed like it was the hackers that were washing the coins, kind of bumped the price up but, but nothing, nothing against the project. Just. I just had to point that out. Overall we lost 90. We were holding 90 Bitcoin. I wasn't feeling too bearish, but 89 looks like we're bleeding out right now. This is going to be a pivotal couple days, in my opinion. A lot of news out here. We're going to talk about macro wise that I think we're starting to bleed and why we did a pretty quick turnaround here. This all kind of started Sunday night, I think Sunday night yesterday, where we really started to dump. And we'll go over through some reasons why.
- [04:39]
Host (possibly Joe or Brendan)
Yeah, first off, it was Martin Luther King Day. Monday, markets were closed. We started to bleed into Sunday night because they still do the futures, but obviously the market's being closed. Bitcoin's a good liquidity for people that want to trade and be active 24 7, which again we're going to talk about in a second here with the New York Stock Exchange. But before we do that, we. There's just some macro headlines that we have to cover. There's a Supreme Court decision around Trump's tariffs. That thing keeps getting punted and delayed, which I more, the more that gets delayed, the more I'm like, ah, I don't know, man, that's, it's like people, the markets are a forward looking mechanism, right. And it's like they can take bad news and digest it and the price action happens, whether it's down, usually it's down with bad news. Right. Or it's good news and the market goes up. But I think what the market truly hates is not knowing. And we're just in this absolute. We'll do chili because it's the winner for those in the north, the winner out there in Denver. Me and my dad, we always used to do a big chili cook off for championship Sunday for football. So we just got this big chili brewing right now, Brian. We've got Supreme Court decisions, we've got Trump talking about Greenland. He wants to go. Obviously. We, you know, just talking about going in and be like, we need Greenland. Well, we'll buy it. Well, we'll take it over. It's just again, the, the president of being the, the reality TV show star that he is is really inflaming the world order here of how he's talking about other countries and it's rubbing a lot of people the wrong way. And then there's this thing that he came out, we didn't mention on the show yet, but this credit card cap rate where he said all credit card companies have to cap the rates at 10%. And you know, again, politics aside, just the business world does not like this at all. Obviously these credit card companies make a whole entire business out of charging. You know, I think right now it's like 20 to 30% some cards. And so again, the affordability crisis that we're having in this country is some might say, well, capping credit card interest rates will help. But what the, the business side of things in these companies are actually saying is actually this is going to suck up, quote unquote liquidity from the economy because you're not gonna, you're not gonna cap a 10% rate on somebody who has really awful credit. What you're going to do is no longer provide them credit. So if you do force this in the. Again, this isn't my thought or analysis or take this is just what I've been reading and trying to research into this topic was the credit card companies, like if you make this a law, like obviously we'll abide by the law, but it's not going to do what you think. You think it's going to help the little person pay less interest. But what it's really going to do is we're going to pull the credit from them and then these businesses again, we've showed you the charts how you know. While assets have been hovering around all time prices, the debt of this world has been hovering around all time prices. So it is a volatile time to just be involved in planet Earth, which sometimes is hard to navigate. But I think it was important to kind of build that chili pot first. Brian, anything stick out to you on what might be affecting this price action?
- [07:45]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
We're throwing everything into this chili. We got kidney beans, we got cayenne pepper. Everything is getting thrown into this chili right now. And it's becoming, it's becoming a little bit of a hot mess. It might be a little too spicy for everyone out there. You make some great points with the Supreme Court court decisions. I think it's the third time they've pushed this back. So it's, it's, it's starting to frustrate me because I'm like either just don't make an announcement right now or stop making an announcement out of an announcement because the market will react. Pull the band aid off if you're going to do something. If not, I'm not. I'm not exactly sure. But I would love to know some clarity behind the Supreme Court. The Greenland stuff.
- [08:27]
Host (possibly Joe or Brendan)
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- [12:21]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
This started what, months ago and I almost thought I did. I thought it was a joke.
- [12:25]
Host (possibly Joe or Brendan)
Kind of a joke, right?
- [12:26]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Yeah, yeah. I was like, yeah, let's buy, let's buy some countries. Let's take control of some countries nicely. Not out of any like, but now it's becoming an actual talking issue. We have like Scott Bessette coming out and talking about it. And it makes sense from a military strategic point of view. They're rich in minerals, but Europe, especially Denmark, they're refusing to sell Greenland or give control to the United States. And now Trump pretty much doubled down. He's like, well if you're not going to support it, I'm going to slap 10% tariffs on the EU on February 1st. And if by June 1st you're still not supporting it, it goes up to 25% to leverage this Greenland deal. And I'm not sure I don't want to get into politics behind this. Why we want it, why we don't want it, what the thought process is behind it because that's not what my expertise is. But these comments. We saw this happen in the trade war before with China when we're another 100%, the markets hate that. They don't like uncertainty. That's exactly what we're getting with this Greenland stuff, and we'll see how it all kind of shakes out. I think Trump's actually speaking tomorrow, so that's going to be extremely interesting to see what the wild card's gonna say in front of the world. But the, but we've, we've seen this playbook a little bit before where he threatens tariffs until he gets his way. I have no idea how this is all gonna shake out. But I know as you're threatening our allies for tariffs, the overall stock market, the crypto market, especially because it can be more volatile, it's going to dip, it's going to go down, and it's probably not going to see some recovery until we get some sort of either pro or con resolution, just so the market understands what's going on.
- [14:13]
Host (possibly Joe or Brendan)
Seen the playbook, back to the tariffs. I guess we're kind of approaching 10 months, I guess, from when that happened. But I thought it was really interesting, if we remember, we called it right on this podcast of kind of picking who was the best mouthpiece to listen to, and it was Scott Bessant. And I saw a clip. This is just, we didn't have it on the sheet, but it just popped in my mind when we were talking about it. He had a little snippet of from Davos here saying, you know, again, same thing, don't escalate. President Trump has a strategy, so let's just hear what he's saying from that. What is the World Leadership Conference out.
- [14:47]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
In Davos four years in, the Europeans are still financing the war against themselves. All right, let's talk about. What I do want to say is, yes, same thing that I said after Liberation Day on April 2nd.
- [15:00]
Host (possibly Joe or Brendan)
There you go.
- [15:01]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Take a deep breath. Do not escalate. Do not escalate. And President Trump has a strategy here. Hear him out and then everything will be fine.
- [15:15]
Host (possibly Joe or Brendan)
I mean, it does seem like, and this is just pure speculation, it just does seem like it's just such a new way of leading. We're so used to the White House and the presidential office just being so, so regal in a way. Movie like in a way. And this is not, this is not movies. This is not going to the theater and the Oscars and the popcorn and you watch the two hour film. This is reality tv, social media style that they're running. This administration where it's just staying in the news, new things, curveballs coming every day. There's not one event. It's every single day. I think that's actually a pretty good thought process of how to think of this is. It's not a movie. It's like new age social media in your face reality TV almost. And I don't know, I don't have, I mean, you can trust them. You cannot trust them. It's hard. It's hard Playbook. It's, it's, it's why you listen to this show and perfect transition of. We, we try. Like we told this on. Brian and I were a little not upset, but we're just like, man, like, we don't want to talk politics. Like, we really don't. But this, it's just where this industry is right now. It's just so, just ingrained in the weekly flow of how this industry is going and growing. But let, let's, let's be honest. When, when Trump took office and we were kind of, we were all on board for that Trump trade, like, hey, this is good for crypto. The other, the other party doesn't seem to be, you know, about, want to do this. And on the campaign trail, Trump's going to the bitcoin conferences. So we kind of are like, hey, this is good for our industry. This is good for our bags, for lack of a better term. And it was after the election day, there was a huge sh. Up in bitcoin. We've covered the Coinbase stock, the Robin Hood stock, all the other, you know, bitcoin stocks did really well. However, since he's taken office, I believe it was one year, one year ago to the day almost. And, and I'm going to bring this up just to keep, we got to keep everybody honest. Like, we had some commenters, like, and again, because it's such a polarizing issue that we, we try not to be political of, like, these are our political beliefs. We're just trying to tell the story of crypto and be a crypto community for everybody. And that's where it was. And it's, maybe it came across as positive Trump, but let's, let's pull up the scoreboard now because it certainly is not. And for all those people that criticized us, like, hey, I'll say it like, this is, it's not working right now. A year, a year to the date. Bitcoin down 13%. ETH, down 5. Seoul down 50%. We remember the meme coin craze on the bottom there. You see Melania down 98.8%. The Trump coin down 82%. You know, I just take your pick there. And so I, I think, and we, we've told this credit to me, great take was if you want to win the midterms, if you want the crypto vote, which they leaned heavily on for the election, if you want that in the midterms, you got to turn this story around because this is gonna, this is gonna start grinding. It already is grinding people. We, we're in the industry, we see it, and it's gonna keep grinding people down. And if you can't turn this story around as a whole, like, don't. Don't come tapping on the crypto industry for your votes. But any, any quick, hot takes there, Brian.
- [18:23]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
I mean, you nailed it. We're down, and we're kind of down bad. Since this all went down about a year ago there now, we've seen our fair share of high points and, you know, had our own celebrations and we had some opportunities to get out with some major profits. I'm still more bullish on the crypto industry than ever. Just want everybody to know that I, I think there's a lot of reasons why to be extremely bullish. We're going to talk about it, but the fact is, is that prices are down right now. And I do think this. The one thing is the, the past administration, they, the big knock on them is that they weren't doing anything. They just, Nothing was happening. We were just the feet stuck in the water. It's just another four years now. It does feel like Trump's just doing all the things. We're cutting credit card rates, we're buying countries, we're, we're, we're taking over. I mean, it's just. There's a lot going on right now, but the market's down. And I agree with you is the midterms are going to be a big point upcoming. And if you want support from the crypto industry or just overall the financial markets, unless you're in gold and silver right now, heavy, you're probably feeling some pain. And I want to be like, Manny, they have a plan. They have a path here for us to succeed. We know this can turn around pretty quickly as well. This Greenland stuff and just all the other items that we're going to talk about. It is only a couple pieces of news that could come out to really turn the market very bullish and we run very hard. But right now it doesn't look great.
- [19:58]
Host (possibly Joe or Brendan)
Right? And I don't want. I think you teed up perfectly. We still are bullish, and that's Kind of the part of this show where it's like, hey, we're getting all this out of the way just to say like, if you don't think, if you don't think I'm excited about where bitcoin is at and starting to do my weekly buys like me and Brendan talk about all the time is there's, there's just too much data to be like, all right, if you want to throw in the towel now, you can. But then there's, there's tons of positive news data. I'm going to bring up some bitcoin stats. We've got some chain link stuff with 247 trading in this tokenization of the quote unquote the world coming on chain seems to be the playbook of like, okay, well what projects are actually going to bring utility to that happening and how can we take advantage? So let's pull up the bitcoin stat here. So I thought this one was really fun. This is the first time in history that bitcoin valuation against gold hits an RSI of 30. Happened in the 2015 bear market. 2018, 2022. I can enlarge this a little bit. It's just, it kind of, it's high lengths. You see the green, if you zoom in there, you can see the green, the green, the green on those is this is when the RSI hits 30 for Bitcoin valuation of gold over bitcoin's timeline. It's like, okay, gold runs up and then bitcoin catches up. So you know, geez, gold and silver's been on an absolute tear. But at what point will bitcoin catch up? How violent will it be? And I saw somebody kind of discussing it. It's like it's not even a catch up trade as much as if it would be like a repricing. And so when this does happen again, we don't have a crystal ball. But like if this does happen, it's not, it's not a slow catch up. It's more just saying, okay, this is a repricing. So I thought that was a fun, a fun stat. And then this came out the other day. New York Stock Exchange is, is building its 24 7, you know, trading, which we've talked about on the program before. But it looks like they're going to partner and use Chainlink for it. Which I think is a huge vote of confidence for Chainlink. And some really, some interesting news just around how fast, you know, the NYSE seems to be going forward to this. I know we've Talked about it before, but when they start choosing projects to build on top of, it's, you can tell it's. It's kind of in the motions.
- [22:12]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
This news is huge, in my opinion. We have the New York Stock Exchange, one of the biggest financial players of the entire world, and they're going on chain. I mean, there couldn't be a bigger vote of confidence for crypto. Now, there is this other side of discussion where I've heard people argue that if stocks are 24 7, is that going to hurt or replace crypto? I think I'm a strong no there and I don't want to spend the entire rundown talking why. But I think the key point here is very important, is the New York Stock Exchange is starting to echo the same vibe of what we've always said in crypto. 24 7. Trading on chain metrics, transparency, they're moving forward. What blows my mind and when I saw this chain link news. I'm a big fan of chainlink. I think it's a very interesting coin. It's something I personally hold. But it's down 5% on this news in. In better market conditions. This sucker's up 40% a year ago. So you can see how big this overall macro news can really just depress even the most bullish headlines out there.
- [23:25]
Host (possibly Joe or Brendan)
No, I agree. And I think that what was going on. I'm sorry, I didn't tee up. What is happening in Davos this week. It is the World Economic Forum, so it's, you know, all the richest of the rich people and the businesses and the banks and the, you know, politicians are all getting together to have this conference and it's, it's a big mouth. I call it mouthpiecing. It's just everybody has their speech, speeches, like you said, Trump is tomorrow. But I think we have another clip here talking about token. Yeah, so the tokenization of stocks is good for crypto. It's Brian Armstrong who has been jockeying, if you will, with the White House recently over the crypto bill, which we covered last week. But let's see what he is talking about in regards to tokenization.
- [24:09]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
If everybody can do the same thing, what happens in the end? Customers win. New York Stock Exchange just announced yesterday a new platform that I imagine will compete with you to some degree. A new tokenized platform. Everybody seems to be introducing all sorts of programs that frankly look a lot like things that Coinbase does. And I wonder just what you think the whole industry looks like, you know, a year or two or three from now in terms of what you're doing relative to what everyone's doing. And by the way, at the same time that you're trying to get into everybody else's business. Yeah, well, I mean, I was thrilled to see that. I think New York Stock Exchange announcing their interest in tokenized equities is just one more data point of the crypto is updating the financial system. And we want everyone to be able to do that and make. Make our capital markets more efficient. Does it take the moat away from everybody's business? If everybody can do the same thing? What happens in the end? Customers win with competition. I mean, we shouldn't have policies being created in the United States that favor one set of companies over another. There should be clear rules of what's allowed, what's not, and then everyone competes. That's how the customer benefits.
- [25:13]
Host (possibly Joe or Brendan)
I actually really like that sound bite, to be honest, because it kind of goes back to how, you know, some of these old guards, especially the brokerages, just haven't. They haven't innovated. And I. We've kind of, especially as a crypto industry, we've, you know, bashed a little bit more vanguard maybe than the others because they were really outspoken about the Bitcoin ETFs. But we've talked on this program about Even just their UI, like, you know, like these, some of these UIs haven't changed in 10 years, 15 years, and they're slow. And then, so you have, you know, the coinbases of the world, the Robin Hoods of the world, the Weebles, like, they're, they're bringing in fresh ideas, they're bringing in fresh UIs, and they're growing with the times. Like, we, you know, we're all on our phones 24 7. So. And, you know, the whole reason because of that is the UI is intriguing to, to play with and be around, whether it's games or content or anything. Like, that's why the phone is so addicting. And so these experiences with the money managers just feels like a picture of an old man in a tuxedo with a pipe, you know, just smoking and being like, hi, yeah, give us your money. It's part of the system, 8% a year. And so, you know, again, obviously, Brian Armstrong wants Coinbase to win the battle and have it, you know, be really successful and make all the money. But. But I agree with saying, like, hey, like, we want rules of the road here for everybody to be competitive, because that's, at the end of the day, that's what a free market is well said.
- [26:38]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
I mean, you absolutely nailed it. And, you know, Brian Armstrong's been popping up on the feed and the news quite a bit recently around the Clarity act and obviously the market structure bill, which kind of go hand in hand and how that's been delayed. And there's certain crypto industry leaders that want to still support the Clarity act where it stands. But Armstrong has come out and, you know, basically pulled support, and I think that really ticked off the White House as well. It seemed like to the point where Brian Whitehouse, Brian Armstrong had to go on Twitter and say, no, we were having great conversations. I think there'll be a resolution. But it sounds like the White House is kind of upset that Coinbase is pulling support. I don't know enough details. I know a lot about it, but I don't know enough details of the inner workings. I know it's around the stable coins and the yield, and I'm for yield and stablecoins. And I think Brian Armstrong probably has the crypto, crypto users. You know, he's representing us in an interesting way. But I see a lot of pro crypto people still supporting this Clarity Act. I think that's another reason why we're seeing this price go down, is that we're seeing a lot of uncertainty around the Clarity act. And now we're having Armstrong and the White House kind of go back and forth and this is happening in real time. We talk about it all the time. We literally see this news happening in front of us as it's going on and the price reacts. So I don't know, but that clip from Brian Armstrong was great. And I'm pretty hopeful that we get everything worked out and this is part of negotiating tactics, but we'll see.
- [28:17]
Host (possibly Joe or Brendan)
Well, if you peel back the onion layer by layer by layer, it starts to get more bullish the more you peel back. In my opinion, the surface layer is a little hectic and volatility, especially at the macro layer. That's the first layer of this provisional onion. And you keep peeling it back and peeling it back. And I, I just continue to see bullish things and more adoption, which we're going to get to in a second. But I did want to give a shout out to everybody in the chat. Again, we have, we have a friend from London. Crypto this crypto low all the way from London. That's unbelievable. Or no U T U all the way from London. Thank you, guys. Crypto Lowe's in here asking questions. We'll get to the questions at the end. So Pile them in there and also give it a like and subscribe if you're new. It really helps us grow the channel. And we'll get to your questions at the end. I mean, for this year, our friends at Bitwise are saying that 99% of financial advisors who allocated to crypto in 2025 plan to increase or maintain their exposure. So let me pull up this tweet from Matt Hogan. And again, this is research from our Bloomberg friends. Only 1%'s looking to decrease. So again, there's more money coming in. And I had a second. Let's see, let's run down these, these links here. The other one was JP Morgan. You love it. Jamie, Jamie, Crypto diamond, your favorite, your guy for, you know, they're saying that, hey, crypto inflows are likely to rise to more than $130 billion a year. That's JP Morgan. Again, this is all stuff that's, that's happening this week. This is all news that's coming out this week in the face of all this volatility. So it's hard not to continue to be bullish. I know at the top of the show a lot of people and Brian kind of tried to, you know, reeled it in. It's like, hey, like all this negativity, but we're still bullish. This is why these are the breadcrumbs that are leading us to this type of conviction. And none other than Vanguard, the one that we just shit on, I mean, Vanguard is, is for its value index fund, is now buying MicroStrategy, which we always thought didn't make any sense. You couldn't go on and buy the Bitcoin ETFs. They wouldn't even in, do, you know, have them, but that their, their holders had huge, huge holdings of Vanguard as a clearinghouse. They had tons of shares of Vanguard and now they're buying them for their value index fund. So again, the, the breadcrumbs are there. Maybe not at a macro level, which again, is, is kind of keeping us down here, but that's what I found for us. This, for this episode. Brian of, of bullish takeaways. Any thoughts?
- [30:51]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
No, I, I, I think it's just us, we say it all the time. It's us zooming out a little bit, realizing our financial advisors, wealth managers, institutions, I mean, they're, they're still very interested and they're still buying the crypto, crypto, Bitcoin, Ethereum, Solana. We're seeing a lot of interest there. We have the 401k allocations that are going to come about so that when you zoom out and you. We're just so reactionary in the crypto world. And it's just what I was saying earlier is that we get this news just shoved down our throat that we're raising the. We have a, we have a tariff war incoming because Europe isn't on board with us buying Greenland. So of course the price is going to react. But when you zoom out and take a step back, New York Stock Exchange is going on chain 24 7. They're embracing crypto, money managers, financial advisors. I got some really close friends now. If I asked them three years ago, their thoughts on Bitcoin, their financial planners and money managers, they would laugh in my face. Now each and every one of them pretty much has some sort of exposure or I know they're looking to get exposure or at least when we talk, they have a sincere interest in learning more because they're getting educated by their firms about why crypto and blockchain is going to be a disruptive technology. So it's tough. Nobody loves volatility in the moment because it's gross. You know, we're down 5% on chainlink, but they signed a huge partnership with the New York Stock Exchange. It doesn't make any sense. But this will all, this will all come out in the wash and things are going to be a lot more bullish down the line than they are today. But we can just see this, this is what we do, this is why we break it down and this is why we have to keep a level head when we get opportunities to buy. Sometimes you take those opportunities and this, this feels like it.
- [32:36]
Host (possibly Joe or Brendan)
Yeah. And speaking of zooming out, credit to friend of the show, Ziggy at Ziggy, always just randomly. I think this was Sunday night. What's the time stamp here? 18th. So yeah, it was Sunday night when the futures open, like we said the top of the show and everything started tanking. He just, he just tweets at us. When in doubt, zoom out by the dip boys. That's great. So shout out Ziggy as we do say, do say on the show a lot. When in doubt, you zoom out. That's how it works, wix. It's where website creation meets AI and where your boldest ideas become real. It just takes one platform to build a site that looks great and does everything you need it to. And it just takes one person, you to start taking care of business. Like a 10 person team with AI tools for creating an entire website. From scratch or testing new ways to make money. WIX is there with you from day one. Try it out now@wix.com Working across teams.
- [33:34]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
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- [33:44]
Host (possibly Joe or Brendan)
Visit us@asana.com I wanted to get Brian's take on the Mr. Beast thing. So if you listened to our episode last week with Brendan, it mine invested into Beast Industries, which was quite fascinating to hear break down just to keep covering the bitcoin. I mean it's like automatic at this point. We don't even really talk about it that much. But Bit Mine, I believe is about 75% to their way to collect and buy and hold 5% of the Ethereum supply. They're about 75% of the way there. They're staking it. They bought more this week, as they seem to every week. But I wanted to get your take on the Mr. Beast thing. I just find it fascinating from a content creator perspective. Obviously he has these kind of goals, it sounds like to get into the finance industry, that's not a secret anymore. But bit mine coming in and, and getting a stake in it. What, what are your thoughts off the jump there, Brian?
- [34:46]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Yeah. What was this, like a $200 million equity investment in the Beast industries, Right? Yeah. This was big news in my opinion. I love this. I know Mr. Beast, he filed, it's like you said, it's pretty public about like Beast financial services. And he's talking about rolling out a crypto wallet and doing a lot of things in the world of crypto and that, that should just make everyone right there very bullish on crypto in the long term because we have one of the biggest content or creators in the world with hundreds of thousands, millions of views that's excited for the world of crypto. Then we got good old Tom Lee. Well, yeah, you said 75%. Yeah, I think I read they bought like $110 million worth of Ethereum. $100 million a week. They're like 3.5% Ethereum. And now they're taking some of their money and they're investing it into one of the biggest content creators of all time, probably the biggest content creator of all time. So just with his massive audience in mainstream for crypto adoption, I love this partnership. I would love to know some details behind it. I know Mr. Beast is some. There's been a lot of rumors about what he's trying to build in the Crypto world. I'm certainly going to be paying attention because I think this just goes to show another reason why we're bullish on this long term. That's, that's a big investment. I know Tom Lee likes to throw hundreds of millions of dollars around, but $200 million to a content creator is a huge investment. What are your thoughts? I missed the show on Monday, so I don't know, man.
- [36:13]
Host (possibly Joe or Brendan)
I just think that him being the biggest creator in the world, that stat was shocking. I didn't know this, but it was like he gets more views in a month than the Super Bowl. So every month he gets the Super Bowl. Yeah. Crazy. And so, I mean, I think there's, it's a two way street. I, I definitely don't think it means like, oh my God, like ethereum's going to 10k tomorrow on this news. I think this is a slow burn, almost like a fuse. I think this is a long fuse. And it, and if this works out and it's just like any business venture, it could work. It could not. But if this is something that, if Beast Industries and Beast Financial is going, you know, to, to try to do that, it's kind of like how X has been saying that X wants to do payments and X wants to do investing and all that. So it's like how many of these will actually come up and be a player? It's hard to say. But if it does work in some way, it's hard not to think that a discussion like two, again, $200 million is just something you throw around. Like that's sitting down and going through investor presentations and decks and you're sitting down with a lot of people that manage this type of capital and you're having these conversations of what's the future. And so we're not privy to those conversations. Obviously we don't have a stake in this company. But when you're talking about what is to come with this investment, how could it not be based around building something on Ethereum? Right? Like, that's just kind of the natural flow of what I think that investment conversation was like. I don't think bitmind goes in and, and it could be, again, we do not know. We don't have the transcripts of these conversations. But if Tom Lee sits down with Jimmy and his team and he's like, oh yeah, we want to build the next financial system on Solana, like I don't think bit mine's giving them $200 million. I think the conversation was around Ethereum and then I do have a little nugget here that I didn't prep before, but I'm sharing this tab now. Is that a fascinating retweet by Tom Lee from Chamath? Chamath from the all the all in podcast. Like, again, a huge billionaire entrepreneur multiple times over, has been on everything from Shark Tank to now the all in podcast, number one business podcast in the entire world, is now saying, oh, wow, it's so interesting that all this talk about Beast Industries is happening. Oh, by the way, I haven't really talked about this before. Five years ago, I invested in a series A that created Beast Industries by bringing together all of Jimmy's various business interests under one umbrella. The, the Beastables or the Feastables or whatever they're called. The chocolate bars, the YouTubes, the this and the that, the Walmart partnerships, all that. Oh, Chamath randomly apparently invested in this five years ago and he hasn't talked about it. So again, throw another huge, big time investor. But I think the most important thing is I find it really fascinating in the last five years. I don't think this is necessarily connected as like Mr. Beast is, you know, producing the all in podcast, but it is really interesting that that podcast has grown so much over the last five years and he's also invested in a YouTuber. Like this content thing is, I've been saying this for years, which is why, you know, I was out in Hollywood and transitioned into the social media YouTube thing, ended up at Barstool. I, I kind of saw where the puck I thought was going and it worked out. But this is where the puck's going. Our president is a reality star tv. Like, it's all we thought. It's like, I'm serious. We talked about it this episode early. It's like, guys, this is where the puck's going. Like, if you're gonna sit there like, oh, the YouTube guy wants to, you know, have financial services. Yeah, right. Oh, the Twitter guy, Elon wants to turn it into a bank. Yeah, right. I'm like, I don't know, man. These banks, these, these traditional guards, the old guard might have been caught on their heels a little bit of where the future's going, how fast it's going. And so again, Tom Lee, huge megaphone in the investors. Chamath, huge megaphone with the number one business podcast in the world that that podcast also has the crypto czar and AI Czar on it. Right? Like, start connecting the pieces of the puzzle. And I know this was a little bit of a long Rant. I didn't necessarily have it planned. I was just connecting the dots in my head. It's like, this is fascinating for this crypto storyline. Again, the fuse is long. You know, when will it be lit and how long will it take to go to blast off. But if all those pieces connect of all these people that are huge investors, control a lot of capital and then have this reach of influence, it's quite a storyline.
- [40:38]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
This is why you're the MVP of the company. This is why you're the mvp, man. You know it. We talk about this a lot offline of how important you are because content's king. People come to view content now through. I mean, how often do we talk about like, hey, we saw bitcoin price or this news on CNN or cnbc. It's like never. We're like, oh, we found this great thread from Chamath or Tom Lee on Twitter. Content is king right now. This is a huge investment and I love this move by bit mine and Mr. Beast. I think it's just like if there's ever a day that you're just like, is this crypto thing really not going to work out? Like, if you really have that go through your mind, you need to just kind of take a step back and be like, wait a minute. Like, yes, yes, it's going to work out. It's going to be volatile. But there's a lot of smart, well, well off, very educated people that are doubling and tripling down on this. So seeing this $200 million investment from BMN or bit mine into into Mr. Beast and then finding out that Chamath was, you know, handing out $45 million five years ago to help grow the business as well. Just as a great point of why you're the MVP of the company.
- [41:56]
Host (possibly Joe or Brendan)
And I appreciate that, that's too kind. But I'll tell you who else is the mvp. It's the absolute viewers on our live. We didn't promote it today to our email chain, so it's not a huge attendance. That's all right. That's right. Ca Came Cayman came in miscommunicated. We'll do it later this week and we'll get a big audience in here. But we do have people and it's just been growing non stop. I'm looking at the chart, Brian. It's up into the right. Unlike the markets today, our viewers, we really appreciate you. They seem to have liked that rant about Mr. Beast and bit Mine. So give us a thumbs up. Subscribe. And now it's time. What you know, when you attend and why you attend for when Brian's here is the momentum money makers. Nft, meme coins, all the fun stuff. We need an update from our guy Brian. It is time for that. And if you're interested in more and you want to learn more about their first alerts, check out the link below. It's for the momentum moneymakers. I put a link there for everybody to get more information about Brian and Joe's private community. But Brian, let's start it off with a little. A little footy. A little footy we got. I mean, Penguin, when is it not in the news? Pairing up with Premier League's Man City.
- [42:59]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Yeah. Manchester United or Manchester City.
- [43:02]
Host (possibly Joe or Brendan)
Oh, no, don't say that. Don't say that in the streets of London. The lads will have you. The lads will take you out of the pub out back if you ever say that again.
- [43:13]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
My God, might owe everyone a beer in London, but Manchester City, I mean, yeah, when aren't they in the news? What we need is the price of Pengu to go up. But again, this, this the, the best, the best comparison I can give everyone right now is the New York Stock Exchange made a huge announcement with Chainlink, a crypto that is well vetted, been out for years and years and years is, is one of the most popular cryptos in the entire book. They make this huge announcement about how they're integrating with chainlink and they're down 5%. Makes no sense. Just as long whoever from the pudgy Penguin teams is listening. If you're listening, just keep doing what you're doing because I know this is going to pop off at the right time. They're much more, they're much bigger than a meme coin. I say it all the time, love to see this partnership, but we, we need to get this Greenland and Clarity act in the back seat and off to the races for it to really take off.
- [44:11]
Host (possibly Joe or Brendan)
Yeah, our friend, our friend from, our friend from London said, be careful, Brian. Yeah, that's great.
- [44:17]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
My bad, my bad there. Maybe he can vouch for me whenever I'm in London. Be like, this guy doesn't know anything.
- [44:22]
Host (possibly Joe or Brendan)
Well, I got, I got some plugs. I got some plugs in the Arsenal camp. I'll. I'll tell them that you're good. They won't, they won't get you. They won't get you.
- [44:29]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
That's so good.
- [44:30]
Host (possibly Joe or Brendan)
All right, next news up, Poly market is at all time high. Something that. Again, it was you. You were one of the first ones to be in this betting market stuff and saying that this was a super cycle and it most certainly is.
- [44:42]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Oh my gosh. I mean, this is a bigger super cycle than I was even imagining. I knew. I knew them integrating with sports was going to be big. I knew that. We all knew that, like election times are going to be big. Going into midterms is going to absolutely pop off, but it's continuing to just dominate news cycles as well. I'm looking forward to this Poly Token. I know we haven't had a lot of. We've heard their CMO mention it several times even recently, but we have no clear indication when that's happening. But as you can see, Google Search is up for Poly Market. I like the Google Search like metrics. I think it's a very interesting metric. I know a lot of people can knock it, but I think it gives a good sentiment of what people are thinking and what people are talking about and then to just double down on that. I've had more questions about polymarket over the past few days than I've had since the election, just from normies. Like, my dad was asking me, hey, what's this Poly Market stuff? I was like, thanks for tuning into the rundown, dad. But it's very interesting. It's continuing to grow. I even threw a link in down below there because we've seen some fluctuation with the Clarity act here and it was a show. It was a rundown show. When you and Brendan were on and you guys were talking about the Clarity act being signed in 2026, dipped all the way to 19%. And I'm over here working on my one monitor, heard you guys say that. And I'm like, wait, what? And I jumped over to polymarket. Not financial advice, but I put my own wager in at 19%. I'm still up on that trade. And we bounced back to like an 80% chance, but now we're back down to 40, so feels low to me, but I get it with like, you know, the back and forth between the White House and Brian Armstrong. I guess we are more of a coin flip with this right now, but hats off to you and Brendan calling this out live.
- [46:35]
Host (possibly Joe or Brendan)
Yeah, you owe a couple people a beer. You owe some people in London a beer. You owe Brendan a beer. I remember that, that episode. Well, I was just like, Yeah, I mean, 19%. I would, I would take that action. That's gonna move back probably.
- [46:47]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Your guy was all over it, firing into it.
- [46:51]
Host (possibly Joe or Brendan)
Again. I don't know if there's People really like the sports stuff. Maybe we could mix it into the show more. But there was, there was a hot buy after that Bonix industry for Patriots to the super bowl that I gave out on the betting markets as well in the private text chat with you and, and the guys at the office. So yeah, I mean just again, another, another resource to use just for whether you're gathering news or you want to place wagers or manage risk. There's a lot of going on there. I, I, I've also seen Pump Fun on the timeline. The Pump Fun kind of the tokens bouncing around. It's back but the people are trying to build. What do you got on Pump Fun?
- [47:28]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Yeah, the pump Fun stuff's really interesting. This is Alan who, who just made an announcement here that they're now, I think it's $3 million. Yeah, $3 million into coin startups back into their own platform. So it sounds like, I don't want to say they're moving away from meme coins, but it's interesting that they're introducing this three million dollar build in public hackathon. So they want to bring this pump fund, this $3 million for people to build in public, post it on Twitter, do whatever they can. They even, they're even incentivizing people to stream more utilizing the pump dot fund streaming. Interesting to see because I think Pumped off fund is still a really interesting platform. I love to see that they're starting to think outside of the box out of, out of just meme Coins and then they were going towards the streaming and now they're taking 3 million DOL. Have people build actual crypto projects in public so we can all follow it. It probably has a lot to do with like metadow and how they have been doing some interesting things. But Pump Fun with some big announcements here and we're gonna see how this is all gonna shake out. I don't know what the dates are of this hackathon. I had it written down but I don't see it in the thread here. But I know it's happening soon. So they're, they're trying to optimize their existing ecosystem and expand it with actual real world building projects. So this is, they're moving a little bit out of the meme coin.
- [48:55]
Host (possibly Joe or Brendan)
Yeah, I mean you gotta, you gotta adapt and build and bring utility. I think that's even something that you guys preach in the momentum. You know, money makers community is, it's not, yeah, there's the memes and there's the culture of it and there's the trades and the action. But the ones that you guys seem to be super consistent on talking about are trying to build real things and be a part of real things, whether it's pudgy Penguin with the NHL or Pudgy Penguin now with soccer in man City. And then our next topic is rec drinks, which I know you guys love is. Is looks like they're at Giant Eagle, which is a, you know, a chain of grocery stores in different places across.
- [49:35]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
The U.S. yeah, bring that tweet. Bring that tweet up. So this guy. This guy's a legend. I have no idea who it is, and I'm going to speculate it. True, because he has some proof there. But he blessed. He bought 75 cases of wrecked drink Giant Eagle, and then he got what, 3.3 billion wrecked, which was worth over 1100 bucks. So he got all those wrecked drinks free and made money. So that's. That's the world of Web3 and Web2 Colliding, where you buy a four pack of Rec drinks in Giant Eagle for, I think it was like 7.99 or something. You go there, you check out utilizing the base app, they give you a coupon to re to. They give you a coupon to redeem, and then you can, you know, essentially get rec tokens, which are worth real money. You can insta sell it right there and then if you wish. And a lot of people went after it. They. They exceeded their sales for good reason. I mean, when you're making money buying a product, if you're somewhat crypto savvy, no wonder you're going to exceed your sales. But they absolutely crushed it. And I. I think we're gonna see more and more brands continue to do this. But I love what Rex doing. It's kind of Rect and Pengu are my two brand coins that I love. And it's great to see that this was such a huge success.
- [50:52]
Host (possibly Joe or Brendan)
Yeah. I mean, again, real products, real utility is something that the space probably needs now more than ever. Again, when the market's hot a year ago and all these meme coins are flying and you got to pick and choose where you want to go. We remember the days of, you know, whether it was Trump launching his coins or with Dave Portnoy doing the greed stuff, that was, you know, a fascinating time. And it's not the first time that we've seen it. And my guess is it's not the last time that we've seen it. But the ones that make it through cycles are ones that bring utility and have, have stay. So I, I, I agree. I think it's, it's a fascinating concept.
- [51:26]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Yeah. And that, that last link I have, I threw on there. I think we should bring this chart up. I've never talked about this coin with our community. You and I actually. No, not that one. No. It should be linked on the sheet here. Under deck screener.
- [51:43]
Host (possibly Joe or Brendan)
Yeah, that's it. What? Okay. It's BFS.
- [51:48]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Yeah. I'm clicking and it's bringing up a 28 million dollar market cap. Oh, oh. Do you have a different. I just see green for some reason. It's absolutely crashing. Run from 70 million to 28 million on the day.
- [52:00]
Host (possibly Joe or Brendan)
I'm on the day chart. Let me go to the 15 minute chart.
- [52:03]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Yeah, go to like a 15 or hour minute. So this BFS token, this is not a recomm recommendation to buy this token because it's a beast financial services. And there's been a lot of things going on in TikTok and Twitter right now where people are saying this is the Mr. Beast token for his financial services. I, I've also reached out to quite a few people when this was going up and it sounds like this is an absolute rug. I'm not sure I don't want to be associated with it because I can't really find out what's going on. But I know he's claimed not to have any part of this token. It doesn't really line up. I think if it's truly like a token he wants to launch in the future, he'll probably do it in a much more methodical way. It's not gonna be a stealth launch. But I'm looking at a different chart here. It went from earlier today, just a couple hours ago is at 70 million and it just crashed down to 28.4 million. So it's absolutely fine.
- [52:59]
Host (possibly Joe or Brendan)
I thought they were sharing. I finally got it zoomed out to a five minute chart. That's my fault. There we go.
- [53:04]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
So this is why we have to be so careful in the meme coin world. We can all get caught up and sometimes we get caught up in like a meta's running hot. It's an actual real product or a real meme or something going on, but there's just a tension there. So the price is just going off and you get all this FOMO you want to buy in and then eventually the rug will get pulled from under us or just massive amount of like insiders will, will take profit or just the meta dies off. This screams and this I put this on our sheet when it was at like 70 million. I was like, we just gotta look at this chart because it looks like a rug. And when I clicked on it before you brought it up, I was like, all right. Pretty much confirmed it might be a rug because it lost $40 million of market cap and just about a few out in one hour here. So just, just wanted to bring it up that things could be real shaky out there. If things seem too good to be true, sometimes they probably are because this, this coin was getting a lot of attention on Tick Tock. It was getting picked up on Twitter, but any of like, minor circles or people that are really close to crypto weren't really that familiar with it. And then when we all started digging into it, we're like, man, nobody we know is associated to this. It just felt like a rug. I, I hope it's not for people's sake, but it doesn't look good right now.
- [54:23]
Host (possibly Joe or Brendan)
Yeah, no. Well, thanks for bringing it up. I know I saw it in the, in the mix on social media and sent it to you and be like, hey, what's, what's going on here? I'm seeing a lot of this and, and you, you said it. Glad we could get it out there for the people. Be careful of this one. Again, not a recommendation of any sorts from any part of our team, but let's, we can, let's get some questions and then we'll end on a fun, positive note. So some questions from the chat, do you think? Again, nothing we say is personal financial advice. Our first one from crypto low. Do you think it's too late to invest in gold? Do you think it's going down soon or you think it's going to continue to go up again? We don't have a crystal ball, but I can bring up the price of gold for you again. This, this chart is starting to look like an old.
- [55:11]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
I know, man.
- [55:13]
Host (possibly Joe or Brendan)
Pretty freaking parabolic, man. I mean it', especially on the, on that one year, it's like 72, the five year here. Pretty parabolic. I, I, I just think it's, it's a good trade to get across the globe for when things are getting super volatile and kind of like we talked about, what I had on the chart there was, hey, when I'll bring this back up, it's the, it's kind of the gold versus bitcoin is like, hey, the valuation against gold's hitting RSI of 30 that mean the big, that means that gold has gotten. So you know, the price has pumped so far for gold and bitcoin's lagged behind. And you can kind of see on this chart every time that happens. What happens? You know, I guess this is about a year to two years. Right here is a year and a half. So what happens every time that this RSI signal has triggered against the value of gold and bitcoin, a year, a year and a half later, bitcoin rips. And when you see when bitcoin ripped, it rips traditionally more than gold. So you can see here, if I go back to the gold price and we don't have Brendan, our chart master, maybe I can get him to do a segment with us on Friday when he comes. But if you come back for gold, yeah, the one year is 72 and the five year here is 156. But you don't even need to go back to five years to get that type of return from bitcoin. If you go to the five year on Bitcoin, yeah, it's at 178. But what if you were buying the dip when everybody was panicking and said the industry was over at 16 to 20,000, you have a 5X, that's 500% returns, right? Oh, you know, bitcoin presents again. The volatility is an opportunity is what this asset class has taught us. You know, you gotta do your research and you gotta pick and choose whether you're a buy, whether you're hodling, are you hodling and buying the dip. Are you a trader? You gotta figure out what that is for you. And we can't, you know, personally financially advise you to what your strategy should be. But again, for five years, your five year return is 156%. Back in 2022 you could have got a 500, you know, 500, a five bag or just by buying bitcoin. So that's, that's what this new age asset and the 24, 7 trading and the volatility is, given this space is, is in comparison to gold. We can't tell you whether it's going to go up and down but kind of, I would say the stats and the research show at least for the lifetime of bitcoin that there's, there's some type of catch up and repricing and when it happens it's quite volatile.
- [57:37]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Yeah, there's some stats out there where, you know, when, when gold and silver, especially when it starts to run, run, run, there's always a catch up trade. With bitcoin a few weeks or months later that's I mean, I'm a, I'm a crypto guy. I'm a digital gold guy. I'm not going to knock anybody buying physical gold. I mean, obviously it's, people are flocking to it because it's a safe haven. And for all the macro reasons we mentioned above, you know, the overall market, stock markets, tech stocks, crypto, everyone's getting a little scared. So they're flocking to gold and silver. But I don't think that's going to last forever. I think it, this is definitely, it's time to shine. It's. It's a great investment for a lot of reasons. It's scarcity and it's utility. But I'm a bitcoin bull.
- [58:21]
Host (possibly Joe or Brendan)
Yeah, I think that's, that's our take for, for the show and the team overall. Bitcoin bulls. From our friend in London. What crypto events are you guys attending this year or would suggest attending? I know that. I mean, I. We've been or I've been to consensus. I've always enjoyed consensus. I loved when it was in Austin. We didn't go last year. It was in Toronto. I believe this year is in Miami. And we all know. Yeah, we all know. Tiva's been been seen and spotted down in Miami from time to time. So that, that could be something that I might be attending. I believe that's in May. Well, we'll keep you posted on that if we're gonna make the trip down south to Miami. But the bitcoin conferences are good. I know that Nashville two years ago was Nashville. Maybe this year was Vegas.
- [59:08]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Yeah, Bitcoin. Yeah, I think it's again in Vegas. Bitcoin 20, 26 in Vegas. So.
- [59:12]
Host (possibly Joe or Brendan)
Yeah, that one's good. Yeah, those, those are the two big ones, I think.
- [59:17]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
Yeah, I'm, I'm personally going to East Denver because I live in Colorado and got some connections. But I went last year. It was actually, it was, it was. It's probably bigger for like builders and devs and hackathons. Just really strong ethereum culture. But I really enjoyed it. But my two, if I could just pick any would be either consensus because it's in Miami or bitcoin in Las Vegas would be a lot of fun too. Those would be my top two. But I am going to go to ETH Denver, so if anybody in the chat's going to be at East Denver, I need to know and buy a cup of coffee.
- [59:53]
Host (possibly Joe or Brendan)
Yeah, they asked about Token. The Token events. I know they're all over the world. The different Token Ones, yeah, I've heard great things about them. It's just again, with everything that we do between the research and having our community and keeping everything up to date and doing the podcast, it is hard for us to, you know, take the team and take, you know, a full week off and travel internationally. But I know Bryce, you know, our fearless leader, Bryce does a lot more kind of hitting these and reporting back to us especially for the, the investor type ones. Like, I know he got invited to New York City for like a specific investor type one. So. Well, obviously anything that we do, we'll report back and all that. But yeah, the token events are good and I think if you attend any of those, you'll have a fun time. We'll end on a positive note here. Shout out to Steak and Shake, of all places. Oh, have you ever been to Steak and Shake?
- [60:45]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
I have. I grew up in Pennsylvania. They had them out there. They're pretty good, man.
- [60:49]
Host (possibly Joe or Brendan)
Have you, you know, I have and I haven't. I feel like I've definitely, I mean I've traveled all over the country so I've definitely seen them, but I, I never ran in there, but I'm, I, it's on my radar now. Next time I see it, I'm gonna, I'm definitely gonna have to go. So they, they implemented eight months ago today, Steak and Shake launched its burger to bitcoin transformation. When we started accepting bitcoin payments, let's see, our same store sales have risen dramatically ever since. So they're again tapping on the bitcoin community. Sounds like they're coming in, they're enjoying some steaks, they're enjoying some Shakespeare. And, and the, the bitcoin sales that they make go into their strategic bitcoin reserve, but they've increased their exposure by 10 million. So that's super exciting. It's a self sustaining system again there. I think it's just genius. Obviously we are bitcoin bulls, so we think it's a good idea overall. But again, just a great marketing thing, a fun thing to do. You're joining the community and they, they do accept bitcoin for if you want to go buy a burger with some bitcoin. And I think that kind of wrapping up on that, I think that is something that the administration could and should try to look into. Is, is maybe some tax free transactions if you want to go like allow, allow businesses to accept crypto payments or maybe the, you know, the bitcoin Ethereum slot, whatever. You want to pick some winners there because we all know the administration likes to pick winners in these businesses and investments. But yeah, make it tax free or something. Make it like actual legal tender. I think that would be super exciting. People would love that. And any final thoughts there for Steak and Shake or the overall take?
- [62:29]
Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
I like steak and shake. I don't have any around me now, but I love what they're doing. I, I know probably more than I should about this whole strategic bitcoin reserve and Steak and Shake. There was something that they in a handful, not a handful, in quite a few of the restaurants or it's like a diner setup. It's not so much fast food, it's like a diner setup and you go in there and they started accepting bitcoin at several of their stores and I think those, those stores in particular were all up on an average of like 10 to 15% and they were taking a substantial amount of the bitcoin that they got from sales and they were putting it in their strategic reserve. So not only did they put another 10 million into their reserve, they're they're taking some of their money and the stores that offer the bitcoin sales are up. I think it's super unique. I think you're, you're really attracting younger, crypto oriented, digital oriented younger individuals. And I'll tell you what man, just because of this news, I get it, I'm probably like one of the few. But just because this news, if I had a steak and shake around me, I'd be going all the time because I would want to support them. I would not use my bitcoin though, because you know they're trying to steal my bitcoin. I give them that dirty green paper.
- [63:40]
Host (possibly Joe or Brendan)
Yeah, no doubt, no doubt. The I think that's gonna wrap us up. Awesome conversation. 59 minutes approaching an hour on the dot. We really appreciate everybody tuning in from YouTube final ask if you're interested more in Brian his community. Check out the link below for momentum money makers. Give us a like subscribe Drop a comment after we're done the live here we'll get back to you and everybody listening. We always appreciate you as well and we're going to see you guys later in the week for another live. I think Brendan's going to join us and we'll do a lot of technical analysis and break down the rest of the week's news. But that's all for today. Hope you enjoy the rest of your week and we'll talk to you soon. Bye bye everybody.
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Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
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Host (possibly Joe or Brendan)
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Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
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Host (possibly Joe or Brendan)
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Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
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Host (possibly Joe or Brendan)
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Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
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Host (possibly Joe or Brendan)
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Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
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Host (possibly Joe or Brendan)
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Brian (guest, likely Brian Armstrong or a crypto expert named Brian)
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Host (possibly Joe or Brendan)
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