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- [00:00]
A
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- [04:08]
B
Well, you know, you get the call for the rundown, you bring the permobile on when it's needed most and happy to be here in the markets. You know, Friday was a little bit of a downer of a day. Certainly one of those days where I kind of wanted to not look at my phone or not look at charts for a little while and touch some grass as we like to say and see how the weekend was gonna shake out. And you're right, we got some wash out there in the stock market. What? The stock market on Friday was getting battered down as well. You know, I didn't want to look at any portfolios or think about the future of retiring on Friday, but a little bounce back in the crypto market right now. And again, it's an interesting time because there were some interesting trades out there. Even though I tried to peel away from the screens over the weekend, TiVo, there were certainly some interesting trades that were being shared in some groups that I'm in and just some friends batting some things back and forth. We're starting to find a little bit of stabilization here, but not out of the woods quite yet.
- [05:10]
A
Yeah, my Internet's going in and out on me. But I agree with what you're saying. Nasdaq was what, 3%? It was like the biggest one day move all year for the Nasdaq that was down. I'm going to pull up coin market cap here, Brian, and let you take a look at it.
- [05:26]
B
Yeah, I can hear you, TiVo, I got you. You know, a little bit of the Monday, the Monday tech glitches out there. Everybody's out there trying to check CoinMarketCap and see where we are with prices. I don't blame them. And well, TiVo bounced on us. But why don't I share my screen a little bit and I could show CoinMarketCap and exactly what's happening in the cryptocurrency market and we can, we can talk a little bit about that from that point on. So let me get set up so I could talk with everybody here and we can share the screen.
- [05:59]
A
All right.
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B
Coin market cap right now. So hopefully everyone can hear me. Okay. And you can see my screen. I don't have super producer to tell me, but we're gonna rock with it anyway. So bitcoin right now, right around that $63, $64,000 mark. Listen everyone, we flash below 60, things were looking pretty bleak there on Friday in particular, but we bounced back and right now sitting at like the 63, $64,000 range, Ethereum with a little bit of a bounce back as well, you know, still down 14, 15% on the week. But you know, we're, we're starting to stabilize. Things are starting to figure it out. And I feel like the last time I was on the rundown, I was talking about Solana trading that low $80 range. It just felt like it was in that channel. We lost it. Now we're kind of in the high 60s, but showing a little bit of a bounce back. But some of the clear winners out there, coins that we've talked about in the past are hyper liquid or the hype token that, that got all the way down, I think into the low 50s at one point. So now to see it kind of respond back into $64 range and still obviously is. I think Friday was the first day we've seen those ETFs. The hype ETFs have an outflow, so we hopefully will see some more inflows. But it looks like it's a little bit of a strength, and we're going to talk about it later in the rundown, unless you were kind of sleeping under a rock, and I don't blame you because the markets were pretty rough there. Zcash, one of the most popular privacy coins out there, had some interesting news out there and got all the way down to about 300 bucks. So we've seen a nice little bit of a rebound. We're going to talk a little bit more about that. Absolutely. But we're back and we got actually TiVo back with us. TiVo. I just kind of rocked through the coin market Cap. How you doing over there with the Internet?
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A
Good. Am I coming through?
- [07:52]
B
You're a little frozen on me, but I could hear you talking, so that's a win. That's all we need. That's all.
- [07:59]
A
Yeah. As long as you can hear me, we'll roll with it. Did you pull up the Fear and Greed?
- [08:03]
B
No, I was just. I just kind of went through some of the top macros out there in the. In coin market Cap, what we're looking at. But Fear and Greed. Did we get all the way down? I think we were in single digits for a while, huh?
- [08:13]
A
Yeah, I think we hit extreme fear over the weekend. We gotten. We kissed 15. So we were looking at it last week, and we were kind of hanging. Obviously, we broke neutral, went down to fear, hit into that extreme fear. Obviously, a lot of the price action makes a lot of sense. Everything was down Bitcoin, Ethereum, Solana, and then even the high flyers broke. Right, the ones we've been talking about on this program for a long time. Your VVV is the hype. And then we're going to cover it later in the show with zcash taking quite the tumble on some breaking news that we're going to want to cover. But let's focus on Bitcoin because I think it's important to kind of. When you see these huge, volatile moves, obviously there's a lot of statistics we can start to pull back from in the history of bear markets. And as my Internet just continues to beat me down, I'm trying. Brian, you might have to lead the show.
- [09:02]
B
All right, well, TiVo figures this stuff out. Let's kind of talk about what was Some of the biggest news out there right now, it was zcash and exactly what happened. So I'm gonna give a little bit of a walkthrough for everybody of exactly what happened. It opened up some links and there was a pretty big rebound, pretty big rebound in comparison to what happened. But I'm gonna share my screen here and give everybody a little bit of a breakdown of what what happened. So this is one of the biggest security scares that we've seen in years. And the zcash team, which is one of the better teams out there, did respond in a pretty timely manner. But that did not cause just an absolute ripple effect through the crypto market, causing a lot of concerns. But to kind of give a breakdown was exactly what's on the screen. There was a bug found in the orchard shielded pool and it was alive since 2022. And that bug could let anyone create unlimited, undetectable, pretty much fake zcash with really not a lot of trace of it on chain. And this bug sat hidden for four years. So in step of an individual. In step, the individual named Taylor Hornsby. He was a white hat dev, so he's hired by Shielded Labs. Really, I mean, hats off to him for finding exactly what happened. He actually used the new Claude Opus 4.8 AI to find this exploit in Testnet and then pretty much disclosed it fully transparently on the same day when he pretty much got the information. We saw a ripple effect in the market. We saw on June 2 they had an emergency soft fork. They paused this orchard, June 3rd, they had a hard fork that patched the circuit, the network was back online, it was a hundred percent stable, there's no funds lost. It does seem like the 21 million cap is still in the 21 million. Zcash is still legit, but we're getting more information as it comes out. But it does seem like that the team reacted pretty quickly in a very strong way. But you saw, we saw a massive fall in zcash. I mean it was absolutely was the darling of the town for a long time there. And then we saw zcash crash. And then over the past few days, and my personal take on it was we really need to see what this market reactions can go because I think we saw it go down 60% now they've had some recent upgrades and then we talked about how they're been very transparent about it. And we've seen a pretty big rebound in Zcash recently where about 42% of it rebounded and the founders coming out, they're talking about it and they even talked about a new upgrade called the Iron Wood upgrade, and that was proposed just a couple of days ago over the weekend. And they're targeting that to be released in July. And that's going to be a new shielded pool with extra audits and forms of verification and utilization of AIs. And essentially the coins are all going to have to go through a public checkpoint so you can identify what's real and what's not. So they do have a pretty strong fix for this. It does seem there's an emergency response. The team acted very fast, but that didn't stop with some people absolutely getting wrecked with the coin. But if you held on or you were just watching it, there was certainty, some volatility there that gave everyone the opportunity to buy in at zcash and make a pretty quick profit. So it's been an interesting few days with zcash and obviously that caused a lot of concerns here with the overall just crypto market, just with the utilization of AI. So people started to kind of just like speculate and cause an unnecessary amount of fear if you ask me. But they did respond very quickly. And moving forward, we're gonna see exactly what happens. But it'll be. It'll be exciting to see some other information out there that I wanted to share with everybody. I know we have some people we've talked about on the past. We've talked about this stretch and the stretch dividend. We got Michael Saylor that came out and he's saying that it looks like there is going to be moving from monthly to semi monthly dividends. So that was approved, it looks like, so everyone voted in. So that gives them a little bit more wiggle room. We're gonna see how that overall is gonna react and change things along the lines. And we got another very interesting video. I don't know if I'm gonna be able to get this video, the sound going because I was having some issues before. But let me at least bring up the tweet for everyone because we got Secretary Treasury Scott Bessant here Talking about the US government has seized 1 billion of Iran's crypto. So it says just outright grabbed wallets. Some of them may be typing it in right now and may not realize their wallet had been grabbed. So that's one interesting way to build a United States Bitcoin reserve is by seizing some wallets within conflicts. I don't know if everyone's gonna be on board with it or not, but that's one way to continue to stockpile bitcoin and US crypto holders. We're never too upset about that. Checking out some of the other things.
- [14:12]
A
Jump in, Brian. We're going to see. We're going to try and go. No video, just audio. Plenty of people in the chat saying things were coming through great for you. So if you guys could just throw a comment in there. If I'm coming through at least clearly on audio, we'll keep the show rolling here with my camera off. But I just wanted to get. It's like one of those things, the Scott Besant quote of like, seizing crypto and putting it in the reserve. And they keep in mind, it's. It's a funny narrative that we've been following for so long of just talking about the reserve, building the reserve, building the reserve. And there's been no, like, no real verification of anything. It's really just a huge talking point. So didn't know if you had any other. Like, how. How could we. Is there any way to track this? C.J. is telling us that we sound good. Happy Monday, C.J. friend of the show. Of course. It just. I can't believe how much of a talking point the bitcoin reserve has been for the administration without any action since the Oval Office signing.
- [15:12]
B
We need that reserve. And I'm kind of. I'm in. I'm in the pool of any way we could build the reserve. I'm pretty. As long as it's, like, somewhat ethical, I'm on board. So I don't know exactly what's going on there, but I want to hear more talk about the reserve. I think that's an exciting proposition for the United States and moving forward, obviously, the speculation of it moves the price, but I do think there should be. You know, I look at bitcoin as a. As a global asset, and I think the United States should definitely have a reserve there. So anytime that we hear any additions or possibility to, you know, accumulate more, I'm on board with that. And TiVo, just a heads up. You sounded great without video.
- [15:52]
A
Yeah, we're going to come in. We're going to run audio only. Mom always said, face for radio. What are you doing on YouTube? So we'll keep the camera off. Camera off for the rest of the show, but. But we need to make sure. If you're just joining us, the light is on. The. The bitcoin light. The Mona Lisa is on. A lot of people were asking if it turned, if it worked anymore after that last Friday dip, but it is on. So let's I, that, that video, yeah, we're gonna pause the video. We won't share it. But it was, I just, it was a quote of Charles Schwab saying, okay, who's selling? And so obviously we kind of covered the. How a lot of the old school whales were selling their bitcoin around the 100k level. Right. And so now I think an interesting kind of signs to look for. That's kind of what I put here when I was building the show today. It's like, okay, signs to look for when you're around the bottom. Again, we just definitely want to say in these high volatile times, nothing that Brian and I say on the show is financial advice for anybody, specifically. Just some friends talking about the markets, talking about crypto. But when you start to get these volatile moves to the downside, you can start to pull some research and see like, okay, now that we're really down here, what are we looking for? If you could say, quote unquote, signs of a bottom. So let's try this audio only. Sharing my screen. Brian, can you see this? People in the chat? Let us know as well if you can see it. This pulling up this tweet. We'll keep going, Brian. Looking good. All right, so what we got here, good, dude, is the bitcoin percentage of supply and profit and loss. And this is basically what the, the Charles Schwab was saying is like, okay, well, the people who are selling are the ones that have bought within the last year. So they bought bitcoin at, you know, 121, 10, 1, 190. And now they're getting shaken out. It's like, okay, listen, this was not the trade I thought I was getting into. I thought we were going to the moon. What is this thing? And it's definitely something, We've talked about this before. The same thesis of when the ETFs went live. Remember when the ETS went live and there's a kind of the week or two weeks after there's like a pretty big dip. It was kind of interesting to see. And you know there's always going to be some type of test and you don't get to. I've said on the show probably a hundred times, not exaggerating, like you don't get to buy Bitcoin at 100k and ride it to 300. That's not really how it works. You probably have to get tested at some point. So the test is here. Some people are, you know, again, we're going to talk about space X and raising liquidity. But you know, or maybe you want to take the tax loss because the high fly trades are more sexy. But you're looking at right now is the percentage of bitcoin that's in profit and in loss. And it's just about to kiss. I think actually that last move down officially put there's more people in loss than in profit holding bitcoin right now. And that, that consistently, you look around 22, you can go back to 18, you go back to 15. That consistently doesn't mark the bottom. As soon as it happens here you can see it kind of plays around in a little bit and might pop out, pop in. So again, we might be in a grind it phase which I know you've talked about a lot on the show of like hey, we don't. The, the clarity act is really the only macro catalyst outside of, you know, rate cuts that could maybe move this market positively to the upside at a fast rate. Other than that, we feel like we're chopping. So that, that thesis, at least in my head continues here. But we'll move to the next data point next. But any thoughts on the profit versus loss for holders?
- [19:25]
B
No, this, this makes a lot of sense and you can obviously tell if you don't believe in patterns. Take a look at this. The pattern that's forming right here in this, this does identify to just the guy that does a lot of like fundamentals and like we're both like kind of vibe guys. Of course it does feel like we could consolidate and grind sideways for a little bit here. And then when I look at something like this chart, man, it looks like it's, it's, it could do that for just a little while. But again I'm, I'm, I'm the permeable out here. TiVo. Like I am a huge believer in the future of a lot of this crypto and a lot of these apps that are utilizing crypto Rails. And then we could even, we talk all the time about the AI opportunities utilizing crypto. And I think this could just be a time where, you know, if you've missed some huge upswings in some of your favorite cryptos, it might be time to, you know, just start dollar cost averaging in not financial advice for anybody. But when there's panic and you know, your friends and family are calling and asking you if bitcoin's dead and crypto's dead, in which I got a few of those phone calls over the weekends and just reassuring everyone that fundamentally we're going to be okay and we're going to be stronger than ever and I truly believe that. And I'll see everybody on the other side because I think there's going to be some greener pastures, but we might see some pain. But volatility is the name of the game right now. And there's a lot of liquidity flowing into like AI and attention into AI and then we got the SpaceX IPO I'm sure we could talk about. So there's a tension elsewhere, but it doesn't discount how impactful crypto is going to be.
- [21:01]
A
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It's the kind of show where you learn something, probably laugh and walk away seeing the world a little differently. And I think if you like crypto101, you'll enjoy Planet Money. So maybe check that out. Follow NPR's Planet Money podcast and understand how money shapes the world. Yeah, the rails, you know, all roads, as Tom Lee says, back to crypto, the payment rails of, you know, these agentic AI bots talking to each other, doing transactions. How's that going to happen? We certainly know where his bet is. We'll cover that in a second. But one more thing while we're down here, clearly in the bear market, how I just, I love kind of circling back to the end of the year of 25 and beginning of the year, how quickly the, the four year cycle was dead was such the big talking point going into the end of the last year because everybody wanted to believe that there was going to be another blow off top. I think all of us, you know, want to believe that.
- [27:21]
B
Yeah, I wanted to believe it.
- [27:22]
A
Yeah, you wanted to believe it and it made sense again because the volatility, maybe you were expecting a little bit more gain. And I think something that, you know, kind of Monday morning quarterbacking, the whole thing is the prediction market super cycle that's pulling liquidity and then also the AI trade. I think if you had a, you know, if we could go and prove that multi timelines exist in the world, there's a timeline where prediction markets don't exist and the AI trade doesn't happen for another cycle. And yeah, I mean those crazy predictions of Bitcoin, 250, 300, 500, you know there's a, maybe there's a chance that they come true because there's just a lot more liquidity looking for somewhere to go. But we live in the world we live in and the talk of the four year cycle being dead and now the four year cycle is right on track. If you're, if you're looking at the timeline of history. And another thing to look at when you're depths of a bear is the 200 week moving average. Not the 200 day. Brendan Hunter, they love the 50, the 20. You know for a quick momentum the 200 day is a good one for a little bit me more medium term. How about the top 200 week? Brian, are you keeping tabs on the 200 week? Because when it dips below that is, is the traditionally at least for bitcoin and it's you know, again I wouldn't say short history at this point, but definitely not as long as you know the S&P 500 per se. But there's a famous quote from Charlie Munger of buying good assets around the 200 week moving average is the best way to, to invest. So are you watching the 200 Week? Do you find it interesting that we, we got down there and what are your thoughts and as like a data point of you know, trying to figure out where the bottom might be for this thing?
- [29:11]
B
Yeah, I, I do, I do, I do keep tabs on it because I know a lot of our technical analysis guys do and it's a, it's a pretty, you know, strong indicator and am I surprised? You know like Brendan and Hunter, a lot of the TA things I've seen them and talking to them in person, I know they were talking about, you know, before the ZCASH exploit, just a couple of days before they were talking about how we were, it looked like we were going to go a little bit lower in, you know, from my TA perspective. And then when you talk about like fundamentally I still think crypto has a huge path to grow but you know we're really looking for rate cuts in the clarity act. You know there wasn't a lot that I felt like that could pull, pull us out if we started to take a little bit dip down, so. So it's a. It's a great indicator and it looks like it's right on point right now. I do like where some of these prices are right now. You know, I don't know if we're gonna go much lower. Like, it's tough to catch a falling knife. But there have been. Over the weekend, you know, I kept saying, like, I was gonna touch some grass, but I'll. I'd be lying if I didn't nibble on some certain coins that I really liked because I felt like there was just, you know, a little bit too much of a rush out the. Out the back door. I think there's some opportunity to rebound and we're seeing it.
- [30:29]
A
Yeah, yeah, definitely. It definitely feels. A little bit more talking about knife
- [30:42]
B
because recently from both Michael Saylor and Tom Lee and I was reading about this earlier and we'll. We'll kick it off and we will talk about with Michael Saylor exactly what was going on here with Sailor. And I believe everyone can see my screen. So as you can see, you know, it kind of went famous because last week, because Sailor sold, What was it, 32 Bitcoin. And now they went back out or two weeks ago, you know, he finally sold, causing a little bit of a spook in the market. Again, something that we've been seeing that. That spooked the market. But then he went down and I think it said what he bought 48 times the amount he sold, buying another 1500 Bitcoin. So their totals up to 845. And that wasn't the big buys out there. The big buy was big daddy friend of the show, Tom Lee, absolutely hammering Ethereum last week, doubling down on everything he's been saying at 213. 204. Yeah. 213 million. Buying 126,000 Ethereum. And what was really interesting about this, and I'm going a little bit off the beaten path for everybody, but I was doing some research around this bit. Mine usually gives an update, hey, we bought this many eth at this much value. And they talk about we feel like it's undervalued at this price because of X, Y and Z. But they also talked, and I don't want to get the exact line wrong. So I. We could probably talk to you on another rundown, but I urge everyone to kind of take a look at it. They did talk about how Ethereum was such a secure network. And I believe they mentioned actually what happened with zcash. And just kind of endorsing why the security of Ethereum so important in almost like giving it. Reading between the lines I wish I had the exact quote up there almost saying that like we know how secure this is, how important this is and you can see if there's issues kind of what happened and alluded some things going on with zcash. So I found it very interesting that they're still very bullish on it and Tom Lee putting his money where his mouth is. TiVo, you back with us or.
- [32:49]
A
Yeah, we're trying. I refuse to be denied. Listen, the market, the market's trying to keep me down. Listen, I refuse. I will keep coming back all day because the chat's still here. Dude, the chat's still here. People are asking what we're nibbling on. We've got Hector from El Salvador here, El Salvador in the house. Holy whales here I believe up in Canada. M. Scott's here. Like I'm not gonna, I'm not gonna be denied. I'm not gonna be denied on a Monday.
- [33:16]
B
Can we, can we talk about what we're nibbling on? I'm down to talk about. Is that what the people want to hear? I'll, I'll be very, I'll be very open to what I nibbled on and
- [33:25]
A
I think you can, I think you give him a little bit of a sample because obviously when you're on we want to obviously push people towards the community. And so in the description below, if you're interested in getting Brian Joe's, you know follow full portfolio and checking out momentum money makers so you can get those first alerts on what they're looking at, what they're trading and you can kind of join them in the timeline so you can kind of be alerted when and what they're doing. Check out the link below. And then Brian's going to give you a little sample because you tuned into the live.
- [33:53]
B
Yeah, I mean this is off the cuff right now but I'll tell everyone and this is not financial advice. This is kind of what I've researched and certain tokens I love. So we're going to talk about TiVo said it earlier. It's kind of the Ps out there, prediction markets, perps, privacy of the three Ps and then we talk about the AI sector. Those are the four sectors that I'm like really zoomed in on right now. And there's a few tokens that I've really liked. Obviously when Hype or Hyper Liquid took that dip and we've We've just talked about that token. An exhaustive amount, but for good reason. When it took that dip, I was nibbling on Hype because I still think it has legs to run. Perps aren't going anywhere. It tells a great story, make a ton of money. So not financial advice, but a token that I've certainly been tracking. I think it was one of the best rebounders recently with this whole Zcash issue happening. I was a holder of Zcash TiVo and I started to explore and I was telling Joe this last week and I started exploring. This is like near in the. And near in their privacy sector in their platform. And I was actually really impressed with it. And then I saw during this kind of, this washout of tokens, it's called Near Intense. And I thought it was super smooth system how you could deposit near and you could utilize all these different dexes. And it was just something that when I used to look into near in the past, it was completely different than what it was. So now I'm like super interested in what they're doing near and we got this privacy trade because even though there was an exploit or a potential exploit with zcash does not mean that privacy is not going to still be a major meta. And near had a very slick interface and it took a little bit of a beat down and I feel like it's one of the better fundamental products out there. So I'm, I'm liking Hype, I'm liking near. Those are some. Two bigger caps caps out there. And then there's a token. We've talked about the momentum money makers. I think we've talked about the rundown. It's called open serve, the ticker serve trades on base and mainnet. Absolutely. During this kind of washout period of tokens, you want to look where strength is and they're. And it's an AI play and they're building something very special. And we caught that VVV pretty early and talked about it in OpenService, checking a lot of boxes for me. And even during this downturn TiVo it was like flat of a market cap. It was not getting hit hard. And then just with this recent increase, it's been doing well. And that was actually a call I just recently gave to our community and it had a very, I mean if you were in serve, it performed very well against all these other cryptos. So I'm, I'm kind of nibbling at that, those, those three tokens right now and kind of building a better position I love it.
- [36:32]
A
And again, check the description for below because that's how you get, you know those choices and stuff that Brian and Joe are doing on a weekly basis. You get the first alerts so you can move with them again in the momentum money makers. The stuff that they're giving out is a little bit more for the exp. Experienced trader per se and you got to move fast. So check out that link. $1 trial, holy whale says they've joined and it's worth continuing. Love to hear that. Thank you so much.
- [36:58]
B
Amazing.
- [36:59]
A
Thank you so much for joining. And then I'm gonna ask for a thumbs up. We got 85 people in here, man. Can everybody throw some thumbs up on the stream? We are battling through the technical difficulties but we do it for you. And somebody said, I think it was C.J. actually said he missed my mug so much he wants me to try to come back on video. So we'll see, we'll pop up and we'll see if we can finish off the show strong with some visual, with some visuals. We had a question in the comment and because you joined us live for anybody that's never joined us live, join us because you can get your questions answered live on air. They wanted us to talk about, I think I talked about it with Brendan but they wanted us to talk about the Bit Mines preferred stock with the 9.5% annual dividend that they're trying to push through here. So basically the similar to stretch kind of. We're circling back on our Tom Lee conversation but I think the interesting thing is see how it plays out. But also I believe the idea was funding the dividend via staking so you wouldn't have the situation, which we'll cover next of Sailor, you know, forecasting that he's going to sell some bitcoin, which he did and then buying some back, which he did. We'll cover that next. But Brian, just want to get your take on the preferred stock here for Bit Mine.
- [38:18]
B
Yeah, it's structured a little bit different than what Saylor's doing. But this, these financial, this is almost a full time job getting into like the, the financial social economics like these different ways that people are utilizing stock or they're utilizing staking and how they could buy back more, double down more. It's a complete, almost feels like a complete system where you, you need to really read in, in the details here and fully understand, understand of exactly what's going on. So by no means am I an expert of what they're doing here, but this does Feel like it's a little bit different than what Tom with Michael Saylor's done and a little bit safer. Am I getting that? Am I understanding that correctly?
- [38:57]
A
I, I, you know, I, we're not financial advisors so I'm not going to call any investment safe, especially in these volatile times. But yeah, I think it, I think the way the, the headlines that I read it was trying to structure a similar, you know, offering like this, you know, stretch was yours, a nice consistent dividend, but funding it from the staking. So it makes sense if you think big picture. They, they publish their, their thoughts. Bit Mine was the alchemy of 5%. They want to get to 5% of the supply. And so once they're at, you know, now they're in the fours. Right. So 5% is clearly reachable. So instead of using the, and they stake a lot of it. So instead of using the staking rewards to continue to buy ethics, they're going to offer this product maybe to fund some dividends for this type of product to maybe make money another way along with all their other holdings. Again, I think people forget the most with Bit Mine which I think is a cool part of it that you know, is a long term play is all the other holdings that bit mine has. MicroStrategy doesn't have a ton of holdings whereas Bitmine has eight CO orbs. They have the partnership with Mr. Beast and a lot of other things on their balance sheet. And so I think that's kind of the interesting thing for me and why I watch Bit Mine is like, okay, let's see, you know, the nav versus all their other assets because it's not just Bitcoin like MicroStrategy. They seem to be diversifying small in a small way amongst their obviously stockpile of eth, but a lot of, a lot of news out of Sailors Camp. So obviously sold last week he forecasted that and there's been plenty of debate on it. And then you know, he goes and buys, I think he sold what, 32 bitcoin last week and then he goes and buys 1,550 bitcoin this week. I don't know man. I'm running. I kind of gave my take a couple episodes ago on the whole thing. Like it just seems like it's muddy water over there. Like there's like what is the strategy? It's like things called strategy. Obviously there's going to be a ton of people that believe in what they're doing and maybe long term. Yes, like you could, you could Convince me in a debate, long term, the short term of telegraphing, selling smidges, you know, and then now buying a bunch more a week later. I. It's not, I'm not following. I'm not following. I'm also not, you know, full, full stop. I'm not invested. I did buy some stretch and then I got a couple dividends out of it. And then I was just like, you know, when they, when he announced he was selling, I was just like, I don't want to be involved in this anymore. I kind of was in it for the experiment and I just kind of saw the writing on the wall that this thing was going to depeg to and go down a little bit. So I got out of that full, full disclosure. I don't know. It was fun to be involved, but. What are your thoughts on buying more than he sells? But like the 32 was just like, hey, I'm willing to sell bitcoin was I think the tell. And then now he's buying more, raising their holdings. I don't know. It's kind of, it's fun to cover as like a journalist, but investing wise, I, I'm not really following.
- [42:13]
B
I think I would have liked it more. I'm, I'm. I mean, I've been, we've been seeing this for a while. Like Michael Sailor, like kind of like flip flopping back. I mean, he's like the, the ultimate gigachad of buying bitcoin. It's going to like these numbers and obviously demands a ton of headlines and can move markets. But I think I would have liked it more because you pinned it right where he sold 32 bitcoin. I pretty much. He was just saying like, hey, I'm willing to sell this bitcoin. I feel like that's the message he was saying to us. I would have preferred to him to have just like sold a billion dollars worth of bitcoin to been like, that's our dividend. Everyone chill out. I'll sell bitcoin if I need to pay the dividend. There's the billion dollars in the bitcoin. And then he goes and buys more. Like he kind of like bought like just showed that he's willing to sell bitcoin. But it was this like small amount which caused the market to react in a negative way. I would have rather just him like just been like, all right, I'm gonna sell a billion dollars to like, you know, have some cash on hand. Because, you know, people have been pointing that out and we would have still Tanked from it, you know, but at least he would have had cash on hand to cover the dividend. That's my gut feel, feeling from it. But I'm, I'm on the sidelines here. I, I'm not trying to buy micro strategy. I don't fully. I, I need somebody to explain to me like it's up like 4% on the day. I need somebody to fully explain to me like, why we would even be buying MicroStrategy here. I personally, I would rather just probably own bitcoin, you know, there, that's my personal take. But I would love any take from anybody in the chat or anybody, you know, engages with our community. I would love for them to like kind of drop what, what the thesis is here. So I've, I've kind of taken a step back. But that's, that's my, that's my take. Would you have been more, would you have been more satisfied if he, if he sold a billion dollars worth and was like, this is my cash to cover the dividend. Now lay off what I do.
- [44:05]
A
Yeah, because I, my whole thing with all the different offerings that they started to do was I got lost in the sauce of the financial alchemy of like, wow, okay, so this one stock now has a bunch of other stocks that's trying to do different things. And I get it because that's, I get it in a way from an offerings perspective because it's what BlackRock was doing. And there's a lot of other, a lot of other offerings of off. Like, I, again, I don't understand, I'm not a mathematician behind the offering of the product. But they start offering these bitcoin products where you get like capped upside. Like, oh, you'll get 30% of the upside, but then it's safe. It's like you're capping the downside too. So people were making the products around bitcoin, so I get why he would want to get in there. But it just doesn't feel like the communication, it, like it crosses over the communication of what you started doing to begin with. And there wasn't a ton, at least in my opinion as somebody that like journalistically covers the space. It kind of was like a hard left turn to never sell your bitcoin to. Now we're creating all these products, but still never sell your bitcoin to. Now that I have all these products. Well, you can sell, you know, never buy more than you sell. Is the, the, the thesis. And so I, I agree with you is like, it's a hard left turn, but you're kind of like dipping. You're like, oh, well, you're dipping your toes in, right? Go full port. Be like, sell the billion. And say, hey, we created this product. It's newer than the strategy. And now I have to change my strategy to. To accommodate this product. Here's a billion dollars that we sold for bitcoin. And we're putting it into these bonds that are going to accrue at this. And we're going to. It's all for whatever comes out of the bond. It's all for paying the dividend. And this dividend is now covered for X amount of years. And just say, hey, like, I'm betting now I have the dividend covered for X amount of years, which will get us through the next cycle. And then now we're doing this money raise to start buying again because it's low, it's underpriced, but it just feels like we're playing games. I don't know.
- [46:11]
B
It feels like we're kicking the can down the road a little bit. And it's just like we really need, like, a big, big price swing up to, like, he's just delaying it a little bit. So we're gonna see exactly what happens. I don't know if you saw. I brought. I think I brought up the link on the live chat because, you know, I was just solo hosting this show when you were down and out. But I said, sailor, that moved it from is it up on the screen monthly? To bi monthly dividends. So there was a vote so that, you know, it's the stretch. Dividends are gonna be pushed out to semi monthly now. So they're not even gonna be issuing a monthly. And he announced that today right before the show. I threw on the sheet. So that feels like another way to kind of like delay and give yourself some wiggle room. So I guess where I'm going with this whole this is cloudy or murky. Whatever adjective you used to describe this when you brought it up initially is exact or muddy. That's exactly what it is. Wish them all the best. I want bitcoin's price to go up. I want microstrategy to be one of the greatest stocks to ever perform, because that's going to be good. But I'm on the sidelines.
- [47:20]
A
I agree. I agree. I want to get a hot take from you on the zcash thing because you're doing it solo. What's your take on crypto haze? Quick question. Is your computer actually old or is it just being dragged down by the stuff that's supposed to protect it, because that's the part nobody really thinks about. A lot of traditional antivirus programs are heavy. They take up space, slow things down, throw pop ups at you, and then you're sitting there blaming your laptop like, well, maybe it's time for a new one. But sometimes your device isn't the problem. Your antivirus is. And us being in crypto, we know that we need a top tier antivirus program to keep our assets safe. That's why Webroot makes sense. Webroot is a cloud based antivirus, so it's built to stay out of your way. It takes up to 33 times less space than bulky competitors and scans six times faster. So you're getting protection without your computer feeling like it's fighting for its life every time you open up a few tabs. And this matters more now because AI has changed the cybersecurity game. Phishing emails look more real. Scams are getting smarter and malware moves fast, so you need protection that can actually keep up. Webroot helps defend you in real time against malware, phishing, ransomware and other threats, whether you're working, browsing, streaming, or just trying to use your computer without it sounding like it's about to take off. For a limited time, you can save 60% on Webroot when you go to webroot.comcrypto101. That's 60% off today, but only when you go to webroot dot comcrypto101.
- [48:52]
C
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- [49:22]
D
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- [50:22]
B
Oh my God. So just to Arthur Hayes. You're talking about Arthur Hayes, the big. You know, I always really liked Arthur Hayes and I feel like he's a very smart individual and I have really followed a lot of his takes. I've like, you know, followed him on X and really liked his insight. And I've been in a lot of the same tokens around the same time as him. So I feel like he has a great pulse on the market, but it certainly feels like he is like, I don't want to say like shilling or dumping on it. Yeah. What is it that it feels like he's just like Hype's going to $150 and then dumping it whenever we, whenever we have a little bit of a run in. And he's, he's done it with quite a few tokens here recently and it's frustrating me and it feels like I can't take his. Like I, everything he says now I kind of have to ignore. I, I felt like it's very kind of like dumping on his followers almost. And what's this Zach XBT thing? I love Zach xbt. I saw this trending, but I can't see it. I need to bring it up. What's it saying there, TiVo?
- [51:36]
A
I mean, I think the summary is, yeah, some of these people that start off and they have great content and they're great personalities and they have a great pulse on the market, you tend to get a big following and then, you know, as years go on and maybe again, I'm not accusing him of this, but the Zach XBT is of like, hey, you're, you're bull posting to your followers and you know, you've already gotten in the position, it's gone up. So you keep posting about it, posting about it to get more people to come in. And then while you're posting, there's a quick turnaround between posting your thesis and showing everybody how Good, you're doing. And then selling. So that, that's, I think what, you know, Zach XBT is saying. And, and when you're dealing with that amount of money, you got to be nimble. So like for, for, you know, an Arthur Hayes defense, like, hey, you got to be nimble. The market, especially crypto changes on a dime at any time. Markets are always open, so you got to be nimble. But then you can go back and get receipts and be like, well, you know, yesterday you're telling people to buy the day you're selling, you didn't really forecast that. And then, you know, you're telling people to buy while you're still in, whereas you're, you're going to tell people to sell after you're all out is a traditional thing. And so I mean, again, you got to be careful. This. I know there's a short seller, I can't remember the name and I don't want to get it wrong, but there's a short seller in the traditional markets who I think just got sentenced to doing this. Like he was going on TV talking about his positions and then, you know, you go, you get on these airwaves of national TV with a lot of prominence behind a name and you know, people will dive into the trade with you. And then he was like, he was going on TV and then like immediately closing out his trades because it would get, you know, a pop for his short calls or a downward pop, if you will. So, you know, I think it's just, I bring it up not to criticize because I don't know the exact specifics of the receipts that Zach XBT is saying. I did want to bring it up for our community to say, hey, that's not something really that we do. We're more on the educational side. Right. We're not making calls and then dumping on you and we're trying to more educate you on stuff that we see coming. So. And just to be careful out there because there are, you know, a lot of accounts that show a lot of stuff that don't have, you know, the education aspect or your, you know, the education aspect involved in it or you're the best for you, you know that it's a dog eat dog world out there. So you got to be careful. That's why. That's the only reason I bring it up.
- [54:00]
B
Yeah, I mean, you, yeah, I mean we, we all want to give it like help and education and advice. It does feel like what, you know, Arthur Hayes, there's just been a lot of Back and forth and then the whole Z Cash thing and then with hype and then near there's been a lot. So I understand points of views. And he's, I guess you could argue he's being fully transparent. He sells and he's like, I sold my position. But I don't know, the timing's rough, you know, I don't love it. So I am certainly not copy trading or taking any advice from, you know, Hayes and what he's, what he's buying and what he's trading. I did see, I, I looked at the comments of one of his like hype, like hey, I sold my position of hype. And someone goes, hey Grok, tell me how many times like Arthur Hayes has done this and how accurate it was. And it's like he's called out like his position like this 11 times and he's only been right two of the 11. So you know, and I think he sold his hype at not the greatest level as well, if I remember correctly because we've seen a little bit of a bounce back but you know, it's everyone's decision of what they want to invest in and how they manage that investment. And education is absolutely key.
- [55:12]
A
Love it. So let's, we're gonna wrap up with some SpaceX talk around possible liquidity. But before we do that, let's circle back to this video because I think it'll, it'll tie into the conversation of the SpaceX possible liquidity suck. And it's the Charles Schwab talking about, you know, who's selling bitcoin. We tried to play at the top of the show. We obviously had some technical difficulties, but a lot of people sticking around. So let's take a listen. Brian, just give me a thumbs up if this comes through clearing Sweeney asked
- [55:39]
E
this question the other day. I'm stealing it from who is selling? Primarily people who have acquired bitcoin in the past year and a half. So some of the metrics that we track are the cost basis for ETF holders or ETP holders. That's about $83,000 today. We also have a metric for the average cost basis for any holder of bitcoin. That and this is called the active investor cost basis. It does not include what's been rewarded to miners. And so that's about $78,000 today. The average bitcoin bit, excuse me, the average bit dog cost is 8. What is $78,000? I have no idea. So if you think about it from that perspective, people in the past year and A half or so they bought bitcoin, they experienced a quick rally up to $126,000 and then quickly saw their entire investment get cut in half. Wow.
- [56:30]
A
Cut in half. So, yeah, and people don't like to see that taking some tax loss for sure while they're watching this AI trade go absolutely. Buku bucks. And then as we approach this week, an absolute monumental day in the markets. Looking like SpaceX is going to go Thursday this week.
- [56:49]
B
Wow.
- [56:50]
A
Just. It's going to be the biggest IPO in history. Elon Musk is going to be the world's first trillionaire, if I'm not mistaking. As long as everything goes to plan. And so there's been some talk and one more thing on the bitcoin sell off, as long as Brian said at the top of the show, a lot of friends started texting me as well, started getting the punching bag of the bitcoin guy and the crypto guy. So that's always a good sign when you're, you know, probably towards the bottom. And also I said on the show last week is like, hey, bitcoin's all over the A block in, in a negative way obviously with the recent price action and you know, when bitcoin gets boring and it just chops along, you don't really, it's not really talked about much on the airwaves of national television, but it's back in the A block and again, I think that's another check in the box to, you know, trying to find a bottom. Plus all the stats that we talked about in the middle of the show. So with SpaceX coming, I'm super excited just to see it. It's, it's truly in, in, in the markets. It's, it's a legendary day, a historic day. I don't have a take. I mean, I think, I guess long term it's going to be part, you know, eventually it's going to be such a big company that it will be in the S P500 so everybody will eventually have exposure to this. How do you want to play it? Obviously if you can get shares before, you know, the pre IPO shares, you probably roll the dice on that, I'll say that, at least from my perspective. But buying it once it goes live, I don't know, man. There's, I don't know. I, I think, you know, a lot of people are going to want to play for that big pop. They're going to want to trade around it. So I, I think that to me feels like the Obvious player was like, oh, no, I'm going to buy it. It's going to go up, and then I'm going to make all this money. Like, it just feels like one of those things. Same side of the boat. Same side of the boat. And then there's, again, there's some things underneath the hood that people got to understand is lockups. And so when are current shareholders of the pre IPO stock able to sell? And I think that's a huge. I've been trying to do some research. There's a lot of. There's. There's a lot of data points on it, but I don't even think it's been, like, truly finalized. They keep moving, like, this stuff around a lot. It's a unique ipo. And I know, I know for one thing, I believe there's 5% of the float that's for employees, and there's no lockup. So 5% can be sold right away. And then as I hand it off to you, Brian, there's this first 20% of when, you know, when are people going to be able to sell? And that, to me, like, feels like an automatic sell. Like, a lot of these people, a lot of these hedge. Hedge funds and venture funds that have gotten in at such a low price of this thing, 100xing, like, it's kind of like the Bitcoin whales at 100k. And I'm sure there was some other reasons for that. You know, you'd have to ask the individuals. But for these funds, they're going to want to raise some money. There's all these hot. You know, there's going to be new AI companies that are going to be pre IPO. And, you know, you made your 100x50x like you're not going to stick around. And so I worry. I worry if I. Let me just say this before I hand it off to you. I do think there's probably a trading opportunity in the first week, two weeks, three weeks. I would take. I'll say this, maybe at some point in the fall. Like, I think it's going to trade below its IPO price at some point before the end of the year. I would take that bet on Polymarket.
- [60:10]
B
Yeah, I think that's a pretty strong bet. There's been indicators, too. I mean, I just remember, like, the Facebook IPO. Facebook IPO, you know, it was like, 31, 32 bucks, and it dropped all the way down to, like, in the teens. I remember that because I bought it and I was like, oh, man, what was I thinking it took like a full year to get back to where the IPO price is. I'm a huge SpaceX guy. I think it's a great idea. I think Elon, I think a lot of these people are brilliant regardless of like what you take their takes on. They're doing some really big things out there and they even hold what, like 18,000 bitcoins. So there's like even like a world here where that's like a small proxy play. But I do think it's going to be a pretty big liquidity suck. We might already be seeing quite a bit of liquidity. You know, people selling off risk asset exposure because they, because it's the new shiny toy in town, SpaceX, and think it's hard to argue that it won't be a successful company and even a successful stock. But I, I'm, I'm with you. I'm gonna be on the sidelines. I kind of watch and see how it all develops and I will probably enter once it's below the IPO price if, if that happens. And I'm bet that's where I'm betting. You know, I'm not trying to get in on day one now. I hope it works out for everyone. I also think there's a huge trading opportunity. I think Joe is telling me quite a bit his strategy for it and he's a little bit more aggressive, you know, getting some access to it and maybe trading it.
- [61:32]
A
It.
- [61:32]
B
I'm, I'm just going to be watching and there'll be a time. I think I'll get an opportunity. There always is, man. Yeah, it's always an opportunity and there'll be a time where I'm like, all right, I think it's time for me to start acquiring some SpaceX. I, that's, that's my core thesis right now. And it feels like there's a little bit of a liquidity suck from it. And then we have open AI and anthropic, those IPOs coming out this year as well. So risk on assets might get a little bit of a liquidity suck due to this, but I think long term, pretty pretty bullish for a lot of them.
- [62:05]
A
Yeah. A long term. Agree. I agree on everything. I think that you're already seeing it because again, it makes sense. Like if you're going to go buy SpaceX, like you can't really value SpaceX on its revenue. Right. It's just, it's a. I don't even know how. It's a human experiment more than. And then a Business, right? And then obviously, kind of like if you watch some documentaries on, you know, the, the Apollo missions, how much the research from building those rockets and doing the stuff to get us to the moon became products that we used every day in the house. The microwave, you know, there's so many, so many things that siphoned off that you wouldn't think of. Like, oh, well, this part, you know, siphoned off and became this product line. So I think there's a lot of that. But from a revenue, a business perspective, it's going to be similar to Tesla, right? It's like Tesla right now, the. For the last five years is, you know, there's people that say Tesla's crazy. That evaluation doesn't make sense. And then that's what the bears are like, it's a car company. And the bulls are like, it's not a car company, it's a technology company. Right. It's the future. So it's another one of those companies, you know, definitely will be a, a bullish signal of when the market's doing hot. Those, those stocks lead the way in a crazy way. And then like you said, there's always going to be opportunity because when, you know, liquidity gets tight or, you know, the market's rolling over and, you know, or voices of a recession are echoing through the economy, like, those are the first things to lead the downside. So definitely going to be used as a bet on the future, but also probably a trading instrument, if I'm not mistaken. And overall, just a historic, historic. Time to watch this go live. Let's check one more time. We got Sherry, we've got Holy whale Cje. Paul, Glenn, Jeffrey. Pretty good live today for a Monday. David, what's going on? Everybody really appreciate, before you head out, throw this video a. Like, we got 21 likes. We need 33. That's my lucky number for the day. 33. Brian, any final thoughts? We covered a lot. We battled through the technical difficulties, but hey, it's Monday and we're still here. You're not going to keep us down.
- [64:20]
B
The light still on. I mean, you came in not looking great. You know, I talked to you right before pre show. I was like, you're coming in hot and you're like, the Internet. I do.
- [64:32]
A
I knew I just gave the people a visual. Like, I had my camera off. I had my camera off like this and I sat down and I was just like. Brian was like, there he is. Oof. That's a tough one. You having a tough day? What's going on. You sound awful. I was like, dude, the Internet. I was like, I can't figure this thing out. I've been having trouble all morning. But like, this show must go on. We're showmans.
- [64:57]
B
We're showman, man. And I think this is gonna be an interesting, this is an interesting week. I'm probably not gonna be trading a massive amount, but we're seeing a little bit of a bounce in the crypto market. We're seeing a little bit of life. I definitely zeroed in on some projects that have been showing that showed strength when we were getting that washout. So I think we can take some really good metrics and, you know, build a cool watch list. And then obviously what's happening on the 12th of the SpaceX IPO. I'm not even going to try to predict the future, but I'm gonna be kind of all eyes on it and we may get some opportunities. But you know, the permables here, I love where we're going. I think, I think the AI sector's super hot right now still. The robotics and AI acceptor and the cryptos get integrated. I think that's gonna be a next leg up. But it's also summertime, so everyone kind of enjoy it a little bit because I don't think we're gonna get any major moves. It's just going to be really kind of building our watch list which projects are showing strength in these really volatile times. Because those are going to be ones when we get back in that bull market. They're going to be the ones that are really, I feel like almost life changing. So I'm watching and building some of those watch lists and just, just soaking it up, baby. It's summertime and the markets are volatile as ever.
- [66:13]
A
Yeah. And I appreciate everybody tuning in definitely for, you know, a down market. It's pretty good live. So excited to continue to make content for everybody out there. We'll keep you updated this week trying to get a second show in if people are interested. We'll try and find, we'll do some more research of. I kind of like the motor and it's finding a bottom. We definitely, we definitely, I thought nailed kind of like, hey, we're, we're in this chop zone. You know, you could break up, but what's the catalyst there? Could break down if you break support. And then obviously we broke to the downside and now you're kind of in the mode like, hey, let's do the research here. Let's try to see, you know, zooming out as we like to say on this show a lot. What has history taught us that again, it's not. It doesn't. History doesn't repeat, but often it rhymes. So I think that's kind of the mode that this show is going to be in. So, you know, make sure you keep tuning in and then obviously with the momentum money makers, you're going to be finding winners along the way. So last call. Check the link below. Give this video a like we really appreciate everybody tuning in. Thanks so much for everybody in the chat. Really active chat in Monday. We really appreciate it. We got some more great interviews coming this week and we'll try to get another rundown epic episode. Thanks so much everybody. That's all for now. We'll talk to you later.
- [67:36]
C
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- [68:36]
D
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