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- [00:00]
Unknown Host
Foreign.
- [00:10]
Bren
Welcome back to the Crypto rundown where we talk about everything that's going on in the world of cryptocurrency and blockchain technology, from the fundamentals in the news to the technicals on the charts. We spend the time doing hours of research so that you all don't have to. And as per usual, there's a lot going on. We got mostly good. I know as of the the morning that we're making this here on April 30th, we're seeing a little bit of a retracement after some GDP numbers, but we're going to get into that and a whole lot more. We have the billionaire CEO of Pantera Capital saying that he is aiming for a $745,000 Bitcoin. Of course, Michael Sailor chiming in saying he think that this is possible, but he has a larger bitcoin price prediction. We also saw the largest ETF inflows of the year last week with over $3 billion coming in. And then we have all sorts of people wanting to get their hands on bitcoin. Cardone Capital, $5 billion company saying that they want to get $100 million worth of bitcoin. We're seeing what could be the first stages of a bitcoin strategic reserve on a state level, not a federal level, but we're seeing more adoption there happening in Arizona. Traditional financial companies are wanting to offer bitcoin services and even people like Jack Mahler and you know, more, you know, traditional financial people, they're saying, hey, we want to kind of copy the microstrategy like approach. We've seen this happen with Meta Planet, we've seen it happen with some other players. GameStop has been talking about it and there's a lot of institutions that are focused on kind of adopting this very bitcoin centered approach as well. And, and then to kick things off, we wanted or to end things off, we want to talk about the Google trends and how that relates to bitcoin, the Trump meme, Coin dinner and even Coinbase looking at this new regulatory landscape and saying it might be a good time to offer some new products. So welcome back everyone. It's good to have all of you here. If you can't tell from the big list that we just ran through, there's going to be a lot to talk about. So it's good to have all of you here. And of course, I couldn't do this without my good buddy tivo.
- [02:17]
TiVo
Yeah. Good morning, Bren. Yeah, excited as always to be here. I think it's, it's always a fun time when we have a lot of news to talk about and which, which we do, which is a lot of positive news under the surface. Obviously. We've had, you know, kind of a wild start to the year with the news flow and just kind of the macro level. And this kind of reminds me of, this kind of reminds me of like exactly a year ago, right. We had our, you know, our all time highs in March of 2024 and then kind of retracted into the spring and the summer was a low point and there was, you know, obviously gearing up for the political fall. But during that time while price action was kind of down, there was just so much positive news. And I know me and you did the show week in and week out and tried to bring that, but I think this is one of those times where, you know, maybe it's not, you don't need to focus on price every day. You just need to keep kind of doing the work and the research. And I know that's what we try to bring to you here.
- [03:15]
Bren
Absolutely. Yeah. It is funny. Bitcoin has been kind of working in these cycles and I think we've shown this on the chart. We can always go back through it today. But bitcoin has been in a pattern ever since its reversal in 2022. We saw it come off the lows in 2022, move up in 2023, consolidate for around six months, break below the 200 day moving average, break up to a new high, repeat the cycle in 2024 and now we're repeating the same sort of thing in 2025. So there is at least a little bit of consistency and what we're seeing over here on bitcoin. And guess what? I think that after this is all said and done, I think we continue to the upside. I think new all time highs are something that is very, very possible for bitcoin. Now we'll get into this price prediction, right? $745,000. Can we actually get there? What are the catalysts that are going to make us make that possible? We'll get into that, but I think the best way to approach a day like today or a week like this week is just by opening up with the charts. Because as we said at the very beginning here we are getting a little bit of a retracement back to the downside and bitcoin seeing it. The tradfi markets are seeing this and a lot of this is a news driven event. People are looking at the GDP numbers that Came out this morning and I think there was a reduction of 0.3%, which is the first negative quarter. @ TiVo. You brought this number up to me. I think it's the first negative quarter since sometime in 2022. Is that right?
- [04:43]
TiVo
Yeah, yeah, I believe it was in 2022. So first. Yeah, first time seeing that in a while. Like we said, I don't, you know, it's not a panic sell the, sell the farm type of day. I think it's just more of an interesting note. You're going to see a jerk reaction in all markets, probably specifically TradFi, just because they're going to try and parse through. Through the noise of what. And then for those who don't know, just a little bit of education. If you get two negative GDP prints in a row, that's technically a recession. And so we were kind of debating like, okay, so you're gonna get that second number in the summer. So are we technically in an intercession, what might, might that bring? But I don't know. I know me and you, we're not, we're not totally really panicking on that yet. I think there's so much else that needs to be kind of brought forth, especially with these tariff and trade deals. And there's just, there's so much noise to parse through that, you know, the, the data itself can be skewed one way or the other depending on how the outcomes of. Of all the macro news kind of lays out. Have you ever wanted to trade bitcoin but haven't Dared tried? With Plus500 futures, you can trade crypto without the hassle of opening a wallet. With just a few clicks, you can register and start practicing with their free and unlimited demo. See a trading opportunity. You'll be able to trade in just two clicks. Feel ready? You can move to real money with as little as $100 once your account is approved. And the great thing is that in addition to crypto, Plus500 gives you access to a wide range of instruments like the S&P 500, NASDAQ, gas and much more. Explore equity indices like Energy, Metals, Forex and beyond. With a simple and intuitive platform, you can trade anytime, anywhere. Experience the fast accessible futures trading you've been waiting for with +500. With over 20 years of experience, +500 is your gateway to the markets. Visit us. +500.com to learn more. Trading in futures involves risk of loss and is not suitable for everyone. Not all applicants will qualify and this is not personal financial advice. Plus 500.
- [06:39]
Unknown Host
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- [07:12]
Austin James
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- [07:32]
Bren
Visit MyFreestyle US to see all terms and conditions. Certain exclusions apply. Data on file Abbott Diabetes Care or prescription only. Safety info found at Freestyle Libre US yeah, I'm not too worried about it. Again, I'm of the belief that the worst of it has already happened. I think that if we continue to get more stuff like that, obviously we could print lower, but I don't know, I'm just not too, too worried about it. Especially when all of the escalating seems to be behind us and now it seems like we're on the back half with a lot of deals that are in the pipeline. They're not necessarily released yet. But I have a hard time believing that things are going to get so much drastically worse when it looks like the bulk of the resolution is imminent and probably the next month or two. So again, we'll see. We'll see. I think that there is a lot of other things happening, but I mean, if we look at the charts once again, you know, Tiva, I'm gonna sound like a broken record here. You probably already know what I'm gonna say. Bitcoin is outperforming the Tradfi markets. It's the repeat theme, we've been saying this every week for almost a month now, of Bitcoin is outperforming the Tradfi markets on the days where they go red. Bitcoin's holding value better on the days where they go green. Bitcoin is just seeing exponentially more upside on most of those days. Today is no exception to that rule. We see NASDAQ down just over 2% on the day S&P pushing down almost 2%. The even small equities like the Russell is down well over 2.2%. It's around 2.3%. And what do we have? Bitcoin? Well, Bitcoin is down 0.97% percent. It is seeing about half as much downside. It is just again continues to be a hold of value. It's holding its current consolidation range after making a massive double digit move to the upside, breaking through almost all of its primary resistance levels. And that's just not something that we're seeing in a lot of its tradfi counterparts. So bitcoin over here just on fire once again doing really, really good. And this is actually pushing bitcoin dominance up to the highest level that we have seen. This market cycle is the highest level of bitcoin dominance that we have seen. And I think this is actually pushing us and tipping us over the point to January of 2021. So Bitcoin dominance continues to climb. We're working our way up to that 70% level, which is where it historically tops out at. But bitcoin remaining strong here. Now, we know that it's not always going to go up. It's not always going to be this thing that is just continually printing green candles. But I like to have an asset that is seeing minimal downside on the red days, on the fear, on any kind of fearful day, even on like bad news and bad catalysts. It's the asset that is down, you know, one of the least. And I like that. And then on the upside, on those green days, it's just seeing so much positive momentum. So I like this for bitcoin, I think it remains strong again, we're bound to have red days. We've always talked about this. Just because things look really, really good and positive and it is outperforming, it doesn't always mean that it's going to go up and to the right. So again, bitcoin holding value here on another pretty fearful day for the markets. Altcoins across the board not holding up nearly as well. We're seeing them down anywhere from around 4 to 8%. 8% being kind of the high stretch. Maybe 7% is a better. But you know, we have Pengu down about 7%, Phantom down about 6%. You know, we have HBAR down about four and a half. Taos down about five and a half. Chain Links down four. Sui's down five. Avax down four and a half. So, you know, some of the large caps are down a little bit less. XRP Salon and ethereum down about 3%, roughly speaking. So large caps holding on a little bit better. Traditional altcoins down anywhere around 4, 5, 6%. So they're seeing a little bit of a retracement. That's normal. It's not anything out of the ordinary. Those altcoins almost always move at around 2, 3, 4 times the volatility of bitcoin. The smaller the market cap is, the more volatile it tends to be. And that's all sticking the theme as well. So we're not seeing anything too far out of left field on, on that end. But I think the big thing to watch out for moving forward and we've probably talked, talked about this last week, but just to kind of recap, you know, bitcoin has shown us some really, really strong movement. And I want to just briefly recap this. If we look at bitcoin on the charts here and again, if you're not watching on YouTube and you want to see all of the charts and articles and every, you know, all the graphics that we're going to be talking about, you got to go over to our YouTube channel. It's the Crypto 101 podcast on YouTube and you can check us out there with all of the video for the crypto market rundowns that we have. So if we look at this, you can see our previous all time high here, right around 74k, right? We topped out here, you know, we retested this and then we broke out. Well, in this recent move to the downside, we bounced off of this, formed the double bottom right here. And then after bouncing off our previous high and forming this double bottom, we broke through the 20, the 50, the 200 day moving average and our AV up from the high, which stands for anchored volume weighted average price. It's an, it's a, it's a tool like a moving average. So we broke through all of these significant levels. We also broke through the floor of this previous consolidation range and this primary down downwards trend line that we've had since the all time high. Now we're consolidating inside of this previous consolidation zone above $90,000. And that's a really positive thing for bitcoin. We're seeing a short term golden cross on the 20 and 50 day moving averages. These are all pointing back to the upside now. And I think the only thing that's left is will bitcoin make a higher low? I'm still looking at the macros here. I like it, I'm bullishly biased, but you know, maybe that's no, maybe that's no surprise. But I do think that, that the technicals are lining up with this. And as we'll see from some of the fundamentals in the news here in just a bit, those are looking really, really good as well. And to kind of just recap what I was saying earlier about this cycle that we have been in, where we've been moving up, going sideways, then continuing kind of this pattern in 2023, 2024 and 2025 for people who have missed this, you know, this is just, I'm going to just briefly just kind of draw this up. But this is what I was talking about. We have this rally off of 2022, moving up into 2023, we chop sideways below the 200 day moving average and then this leads us to a really big breakout. Then in 2024, we see the same thing. We're rallying, shopping sideways, breaking below the 200 day moving average into a really big breakout. This year, it's no exception. We rallied really hard. We were chopping sideways, breaking below the 200 day moving average. And now we're starting to see what could be the early stages of a rally. So again, not too much out of left field. I know that it's easy on red days where there's bad headlines and fears of a recession and all this other stuff to be like, oh my goodness, the world is ending. But I don't think it's as, again, this is my personal opinion, it's not as bad as people are making it out to be. And you have to think that a lot of the people that are writing these headlines, they are biased and it almost seems like they want their to be a recession. And up until the GDP print, which again, negative isn't good, but a 0.3% reduction isn't some devastating number. And up until that point, you know, a lot of the economic data, even some of the earnings reports, they haven't been that. They haven't been that bad. They haven't like, I haven't seen anything where like, oh man, we're really in trouble now. You know, you look at a lot of the, you know, the jobs reports, the jolts reports, the inflation data, whatever it may be like, and it just hasn't seemed that bad. And I think that's why, you know, Jay Powell has been so hesitant to cut rates as he's looking at this stuff and saying, hey, could get worse. But again, we're just not in some sort of a brutally bad situation. And I don't know if we're even going to get to that point. So I don't know. I do feel like there's a lot of bias in this recession talk. I know that I follow a group of analysts over from, from Canada, and they are almost always unbiased. They have been until the tariff stuff started happening. And now, you know, I have a hard time watching it because it's, it's, it's so biased that you just can't feel like you're getting the whole picture in a lot of this stuff. But I don't know, I guess we see that in everything, right? You know, we see that in the inflation data. I think Michigan does a study on this, but we saw that, you know, you know, on, on the right they were saying inflation's at like 0% or were deflationary, and on the left they're saying it's like 10% or 7% or something ridiculous. And so there's always bias in everything. I think the point that I'm trying to make here is you got to sift through the noise. You got to come to a middle ground. You can't be extreme on both sides, otherwise that is going to probably lead to faulty data. And that faulty data can lead you to potentially poor decisions. But I'm just looking at the saying, I don't think it's as bad as people are making it out to be. And again, tivo chime in here at any point, but I think that people want clicks. They want clicks, they want headline that gets the people coming back if they're, oh, my goodness, if there's fear of a recession. I got to tune back in tomorrow to the next news event to make sure I know what's going on and they know what they're doing. They know what they're doing.
- [17:19]
TiVo
Yeah, I couldn't agree more. I know we talk about it on air, we talk about it off air. There's a lot of, like you said, there's a lot of noise. And, and it's just such a polarizing time politically that, you know, you're going to be able to, you know, see kind of people's leanings, especially when they're on TV every day. So you can't, you almost can't even blame them because I think opinions and, you know, disagreements on one side of the aisle or another are the great thing that makes America great. Right. But it is just such a polarizing time that it kind of is the top topic that people are leaning on. And I couldn't agree with you more because I Have my shows that I like to follow and watch. And you always kind of enjoy the panel as a whole. And you're like, oh, I like, you know, I follow what this guy says. Oh, this guy always has a good opinion on tech. This guy has a good opinion on health care. And then it just seems like kind of recently you're kind of getting blur from instead of people kind of giving you takes about different industries and data numbers, it's just kind of like a political, like everything's political, which, which stinks. But I think it's twofold. I, I think it's always a good saying. I've lived this kind of in my life as a whole. It's never as good as you hope it'll be, and it's never as bad as you think it could be. It's always kind of going to fall somewhere in the middle. And so I think that could apply here where, you know, everybody's freaking out. Recession this, recession that. Yeah, I don't think we're going into some deep, devastating recession. But at the same time, when you keep talking about it and it's on the front line of the news every night at six, seven o'clock and you know, everybody's tuning in, especially the older generation of 45 and above is watching the nightly news, getting fed that there's a recession coming, you could kind of speak it into resistance existence in the sense that, you know, percent be like, oh, maybe we shouldn't do two weeks at the beach or a week at the beach this year. Maybe we should just go for a weekend and then if people start making decisions like that, you know, in the next two to three months because they're ingrained in their head that a recession is coming that will fall into the numbers. So you could speak it into existence. But then the flip side of it is like, it's not a deep one. And I think, you know, the data is showing that the consumer is still pretty strong. I mean, prices are high, inflation, obviously, since COVID is bad. But the consumer is strong. But the consumer also has a lot of debt, just like the country does. So again, you got to find that middle ground of, you know, how are we moving forward and how are we getting growth going. Yeah, but last point, last point, last point. And then we'll move on because this is a good transition is like at the end of the day for, for this specific podcast, as much as we try to, you know, specifically cover crypto, the macro has taken over and you need to mention it, but it's Just another opportunity over the next six months to a year of bitcoin showcasing, you know, what it's all about. And that's what we've really been talking about over the last couple months, right, is, is, hey, look at this. Like, yeah, bitcoin kind of led the way down before all the tariff news, but then when the world was falling and, and there was that week where everybody was calling for Black Monday in the stock market, bitcoin held up really well. And then not only that, started to rally and completely, you know, has outperformed the S and P. So it's more just an opportunity to see how bitcoin performs in this, in this type of environment. And, and again, I think we're biased a little bit because we're the Crypto 101 podcast, but the stats show for itself. It's like, hey, this is, you know, I don't want to call it necessarily a flight to safety, but the performance during this tumultual time in the macro is fascinating and it's going to be great to continue to watch it. But the next half of the show or the rest of the show is all about the good news in the space because like we said, you got to sift through the noise, cut through it like butter, and then find, you know, what are the whales doing? That's the title of the episode on YouTube. And, and, and going to be the podcast is like, hey, the whales are buying. So let's, let's go, let's hit the news here. We're going to start off with CEO of Pantera Capital, Dan Moorhead. And it's just a clip of him, you know, on CNBC talking about how bullish he is. So we'll start with that and then we'll jump into the rest of the news. You bet your life.
- [21:15]
Dan Moorhead
It's not going to zero. I used to tell people it could definitely go to zero to try and be, you know, conservative. I don't think it's possible now. 50 million people in the US own it, 300 million people globally. BlackRock and Fidelity are selling it. It really has reached escape velocity.
- [21:31]
Michael Saylor
But you're 745,000. I mean, I heard 13 million from.
- [21:36]
Dan Moorhead
Michael Saylor the other day. I think it can go. It's going up three orders of magnitude since we launched our fund. I think it could go up a fourth. And that puts it at 15 trillion market cap, which it still seems relatively small, versus 500 trillion of financial assets.
- [21:54]
TiVo
That.
- [21:55]
Dan Moorhead
That's doable.
- [21:59]
Bren
I mean, there you have it. He Makes a good point. You know, $500 trillion in financial assets is 15 million too much. I think what's gold is, it isn't like 50 million or 50 trillion, something like that. You know, maybe we can fact check it. But is 15 trillion too much for bitcoin, too much for the crypto market? I don't think so. Now the big answer there is give it time. Right. It's not something that's going to happen overnight, probably not even something that's going to happen this year. But I think given enough time there is a real likelihood that we scale into that into the future.
- [22:36]
TiVo
Yeah, just throw up. I actually saw this on X the other day. So here's our 22 trillion gold and then 22 and then Bitcoin actually I think flipped Google for a hot second last week, just recently jumped silver and obviously as you can see they're pretty interesting above Meta, above Warren Buffett, above Tesla, Broadcom, etc, but I believe this flipped bitcoin hit six real quick. But yeah, just a fascinating chart. And then yeah, you can see, you know, there's your 22 trillion dollar market cap for gold.
- [23:11]
Bren
Yeah. So it's up there. It would definitely again have to move up pretty drastically to get us to that point. But I think something that it's possible in the future and you know, I think in order to understand, you know, whether that's possible, we have to look at the catalysts. That's, that's the big conversation point. What kind of catalyst can get us up to a price point of $700,000? Maybe even less than that. Right. I've said hey, I think 200,000 is possible this cycle, maybe even 300,000. I think that's something that is realistically achievable and the catalyst that can get us there. Well the good news is that there's a whole bunch of them. I mean, let's kick things off with this Bitcoin ETF demand has skyrocketed and the price has been continuing, continuing to break off or break out off of this news. But last week we saw over $3 billion in inflows. This is the largest week of inflows that we have seen I think since the election. So it's the biggest day or the biggest week of inflows that we've seen this year. And there was two days there right in the middle of the week. I think it was either Tuesday, Wednesday or Wednesday, Thursday where we almost had back to back billion dollar days of inflows. I think it was like 930 billion and then 900, like 50 or 60 million. And we almost had back to back billion dollar days of inflows. So the real question here is, you know, if demand is skyrocketing, who is buying it? Well, if we open up the ETF chart that we have as well and we can look at that and we can see like what this, this data actually looks like. But everybody wants in. I think that the easier way to describe this is who isn't buying it. And we talked about this a lot last week. But if you scroll down just to I think one tab or, sorry, one more tab after that, you can see it there, the spot Bitcoin ETF flows. And it skyrocketed in the last month. And for people who are looking, it's the chart right on the left there. And in the last month, this thing has gone crazy. I mean, you can look at it from the start of April, chopping around sideways. We have some red days, we have some green days for the flows, and then the end of April comes in, last week kicks in and we just went parabolic on a lot of this. So the flows have been crazy. I didn't even notice that candle. What was that from? From Monday. Almost another billion. Geez. So yeah, Monday, I mean, that's another billion, almost a billion dollar day there. So that's a new print. But yeah, I mean, so let's talk about who's, who's wanting to get their hands on this. Because last week we said, hey, it's retail, it's institutional, it's sovereign wealth funds, it's governments. And we're just seeing more of that data kind of prove our point this week. This one's a little bit funny. It's not one I ever, ever expected to see. But it just goes to show that everyone wants in the $5 billion Cardone Capital from Grant Cardone saying, hey, we want to buy over $100 million of Bitcoin. Like the article here says, it's spreading like wildfire. The next one. Well, the Arizona House has passed a bill to establish a bitcoin reserve. I think now this is just going to the governor's desk, but it looks as if it is going to happen. This is a big deal. It's saying that not only do we want and are we going to have a bitcoin strategic reserve at a federal level, but it looks like it's going to be happening on a state level. And we already see other countries looking at doing this as well. So it's on a state level. A federal level and an on an international level. Sofi more of a traditional financial company. They work a lot with banks, but they're more in the fintech space. They're saying, hey, we want to bring back crypto investing to our clients, to our customers. We even want to bring this over and give more exposure to the, to the traditional financial side and say, hey, we want people to be able to open up crypto investing. And even Jack Mahlers, they recently came out and said that 21 capital is going to be launching a microstrategy or a Michael Saylor like approach to just accumulate more bitcoin. And they're looking to get their hands on, you know, ideally billions of dollars of Bitcoin to adopt and continue this strategy. So again, we're seeing this on, you know, different levels of the government, national and international, federal and state level. We're seeing this happen in companies, we're seeing it happen in retail, we're seeing it happen in the spot flows, we're seeing it happen in the ETF flow flows. It does not matter. Everyone, the traditional financial space and in the decentralized space, there's so much attention for people saying that we're going to have a race for bitcoin. In fact, I saw an article yesterday saying that we've entered into a new space race. But you know, the space race is for bitcoin here and who can get their hands on the most and who can accumulate the most. And I think that there really is a big rush for this. You know, it's a gold rush. It's a space race. Call it whatever you want to call it. I mean it's clear that there's the, the demand for this. And I think the cool thing TiVo is that we talked about this last week is the, the supply was going down, right? We looked at the supply chart last week and that thing was going down and down and down since 2022, 2023, 2024. And it really accelerated in 2025. And the Bitcoin supply on exchanges continues to diminish. The having is also chipping away at that. People are also storing their crypto in long term wallets. They're losing it. That's chipping away at the supply and the demand is very clearly on the increase. So what happens when we have a massive increase in demand and a reduction of the supply? Well, the asset appreciates. So again, we're probably biased over here. The show called crypto 101.
- [29:05]
TiVo
But the. Actually I, I'm going to pull up A random clip that we didn't have in the, in the rundown here. So Bo Hinds. Bo Hines is the executive director of the President's Council of Advisors on Digital Assets. And kind of building off what you said, that there's like a bitcoin crypto comparative space race. He did, he did some interviews. I think it might have been with pomp. But yeah, just this is basically kind of that space race crypto tagline that you said. So let's listen to Bo Hines.
- [29:36]
Michael Saylor
I think one thing I'd like to point out too, about that executive order is that we recognize the other ecosystems that exist, and that's why we have the Digital Assets national stockpile as well. I think that there is definitely a sort of space race as it pertains to accumulation of this asset. No different than there is with gold. Right. So we're very excited about it. I think one thing I'd like to point out too, about that executive order is that we recognize the other ecosystems that exist, and that's why we have the Digital assets National stockpile as well. We want to encourage innovation in other spaces in the industry. But I think it's really important that we do recognize bitcoin for its uniqueness. And like you've described, it's a finite asset. It's a commodity, not a security. It has the immaculate conception, as David has said. And that intrinsic store value piece is. Is there. It's been well adopted by the marketplace at this point. So, you know, I feel like we're.
- [30:20]
Bren
Well on our way.
- [30:21]
Michael Saylor
I think we've positioned ourselves to be, you know, the bitcoin superpower of the world. And, you know, we're going to deliver on the President's desires as it, as it relates to that.
- [30:31]
TiVo
So, I mean, that like, again, sifting through the noise, right? It's like, oh, man, GDP is down. Oh, man, Bitcoin's down 3%. Well, if we're going to be in recession, should I sell? It's like, oh, wow, there's somebody who's, who has an office in the White House, you know, talking about how it's the bitcoin crypto space race and you know, how the President, United States wants to win that. Win that quote, unquote race. So again, just part. Part of the, part of the research we all should be doing, and that's why we bring it to you here every week on the crypto rundown.
- [31:03]
Bren
Yeah, definitely not something that I see and makes me want to sell, I'll tell you that much. But on the regulatory standpoint, you know, Coinbase has come out here and they said, hey, we're going to introduce a bitcoin yield fund. Now, I believe this is something that they tried to do under their crypto Earn program or their, their coinbase Earn program several years ago. It was never able to go through. It's a little bit different. But what they're saying here is that, hey, since you can't stake and earn passive yield on your Bitcoin, because it's not a proof of stake blockchain, they're saying that we want people to be able to still do this. And so from my understanding, the way that this works is essentially you're going to lock away the bitcoin, you're going to allow them to have their way with it, lend it, make some money with it, and they're going to say, hey, we're going to essentially give you a piece of the pie. You know, you're going to allow us to use your Bitcoin for trading or however they want to generate some form of a yield, and then you're going to get a couple percent back in return. And I think in here it says it's anywhere from 4 to 8%. But it's also important to note that this is not going to be available for retail investors. This is something that is only for international investors outside the US and this is only for people who are institutional clients. So this is people with big money outside of the US and it is a cool thing because this again, as the regulatory landscape is becoming more crypto friendly, we're able to get more of these products. And if people can earn a passive yield on their crypto, then I think that they would be very open to doing that.
- [32:44]
TiVo
Yeah, and it always, you know, it's, it's just kind of how the process works. Right. Like, everything starts out for, you know, the big money and, you know, the big players in the game. I think obviously the, the reoccurring listeners know me as the Robin Hood guy with the famous Robin Hood call. But it's like, you know, look what they've done for, you know, their tagline is democratized finance for. All right, you know, 10 years ago, if me and you wanted to go do options, you know, we had to maybe. I'm trying to think who might have been the first one to, to really let retail investors do options. But there was a whole application process and you probably, there's minimums. I mean, I wasn't trading options 10 years ago, but, you know, I even, I remember when I first looked into it on other platforms. There was just this huge application process. And you know, I think companies like Robinhood, you know, brought that to the retail investor. And again, it comes with a lot of risk. Right. Like you should be educating and they give you a lot of tools to educate yourself before you just go and, you know, play in those deeper waters. But at the same time they're giving you the ability to do it. And so I think something like this with the yield fund, it's a great opportunity. You're starting to see a lot of ETFs that are kind of capping the downside to bitcoin, but you're going to also cap your upside. There's just so many products around bitcoin coming out. I feel like over the next 10 years you're going to see a lot of products. Probably some are going to go away, but at the end of the day I think it's just going to be more accessible for the, you know, the retail investor to get more involved in different ways. And so I think it's just, it's all positive innovation for now.
- [34:23]
Bren
Yeah, I mean, spot on. And I'm curious, you know, we haven't looked at this in a while, but what do the Google trends say for Bitcoin? TiVo. We like to bring that up at least, at least every one or two.
- [34:35]
TiVo
Months, right when, when big moves happen. We like to, you know, check the fear and greed which we did, you know, the last couple weeks, especially around the, the liberation day fear. But yeah, we have at our Google trends for bitcoin. So as you can see here, this is just for bitcoin over the last 12 months and it peaked out, this is a 12 month chart. So it peaked out at a hundred, so 100 interest. November 10th through the 16th, obviously that was the election day rally and then held strong, you know, through the end of December and then just kind of slowly trending downwards. But as you can see now it's 32 as of today. I mean the low for the year is 23. And I remember, I brought this up I guess even a year ago or maybe even before like leading into March and then there's a lot of pushback that like, oh, it's not as it's not relevant anymore because you know, everybody knows who, what bitcoin is and so it's, it's not going to, it's not going to work. But I, I think, I agree with that point. Like I don't think if you look at the five year chart here, the five year chart. The, you know, the 100 is, you know, 2021 during that rally, like, yeah, I don't think we're really ever going to hit that again. But I think if you look at the 2022, you get up to 77 and then you get up to 71. Like it could kind of be like a diminishing return but like, you know, bitcoin starts really rallying again here and breaks through to new all time highs. You're going to see, you're going to see this 22, which is again, this is the five year timeline, but you're going to see the 22 turn into like a 65 or a 70 again.
- [36:09]
Bren
Yeah.
- [36:09]
TiVo
And so I think it is, it is a good sentiment kind of reader to add again into your toolbox of a lot of other things.
- [36:17]
Bren
Yeah, I think that's, that's totally possible. You know, are we going to go back up to 100 or 90? You know, probably not, but I do think that the broader idea of it makes sense and we're still relatively low. So I'd say, hey, we're not in peak euphoria yet. It doesn't look like we're at a peak. I think that there can be more gas in the tank and we kind of see things top out again about a year, year and a half after the halving. And that would be this year, you know, 2025, as we're just finally pushing into the early stages of that, around the one year mark. But it looks like there's more gas in the tank here, so I'm looking upwards and onwards. And the one last thing that we want to bring up here is again, we always like to leave things on a bit of a more light hearted note, but the Trump Meme Coin dinner, this came out about a week ago. I don't think we got to talk about it last week. But they came out and they said, hey, to the top. What was it? To the top? Was it 100 holders or 125 holders or something like that of the trump meme coin. 220, 220, I was way off. It was double that. To the top. 220 holders of the Trump Meme Coin, we want to invite them to a dinner and I think the top, like 25 get like VIP access or something like that. But it's a funny idea. Originally it came out and people were all excited about it and what it meant, then it died off and Trump's like, I have no idea. I didn't know that that was a thing. I know nothing about it. And then it seems like that was a little bit of an oopsie. And now they're like, well, it does have something to do with. With Trump, you know, you know, you're going to be able to come to this dinner, which a lot of people are excited about, because at the last dinner, I think he announced. What was it? He announced the meme coin or he announced some sort of big news at the last dinner before it went public. And so now people are like, oh, I want to be able to get my hands on this stuff. I want to go there. And so people have been buying up the Trump meme coin in Mass, trying to become one of the top holders, and now you need to have, like, last time I checked the leaderboard, it was like hundreds of thousands or millions of dollars in the Trump Token. And unless you have that, you know, good luck trying to get a seat.
- [38:30]
TiVo
Yeah, I think the inaugural ball there was like the crypto ball, Inauguration weekend, where he announced the Trump Token to those people. Now, that kind of caps off Trump meme coin craze that Friday night into Saturday. Then Melania dropped on Sunday back in January. So, yeah, I mean, people, you know, if you're in the crypto space, you know, maybe you want to be at that dinner and meet, you know, rub elbows with people that, you know, have. Have the top holdings. But again, never personal financial advice. But I wouldn't be diving in to the Trump token. It's just to try to get a dinner. I don't know. It's probably not unless you have. Unless you have money to blow, you know, probably not the best idea. And then I know that that token has, like, a lot of unlocks coming up from our, our NFT guys, or, I'm sorry, Momentum money maker, Brothers in arms. You know, they love the NFT meme game and anything that's ripping crazy in that. In that space. So I think they. I was reading one of their reports that unlocks were coming on the Trump Token, so not a bad time to stir up some liquidity either, I guess. Yeah, I'm actually, I was thinking about bringing those guys on maybe this week to do a Trump dinner recap. I know Penguin from Pudgy Penguins had like a hell of a week, week and a half. So, yeah, there's. There's opportunity out there, man.
- [39:50]
Bren
Yeah, it's craziness. That was not on my radar for what we were going to see last week, the whole Trump dinner. But at first we know we were all Talking internally and we're like, is this real? Is this, like actually real or is this a fake news catalyst? And no, turns out to be real. So funny stuff all around, but definitely a lot of positive, positive price action still happening in, in the crypto markets. We have all these positive catalysts as well. So we're seeing good things on the charts. We're seeing obviously a lot of good things in the, in the news. Demand is still very much there. And, you know, even at the time of, as we're wrapping up this recording, I mean, bitcoin's pushing back above $94,000, starting to see a bit of recovery. And again, the markets aren't always going to move up into the right. They're not always going to be green every single day. But it does look like the broader trend is pointing that bitcoin wants to go higher. And we're saying, hey, in the months, in the years, in the, the decades to come, we think that there can be a lot more upside. And again, a lot of the evidence that we talked about today is kind of aligning with that, with that idea. So we appreciate everyone coming in here, watching what we have to say, going through all the news with us. All we ask is that if you like the content that we make, if you like these crypto rundowns, then consider hitting the like and subscribe button, because we have content just like this coming out every single week. We do all sorts of other podcasts, market updates, tutorials, you name it. We cover just about everything that's happening here in the crypto markets and we report back to it completely for free. And if you really like the content, then you can go down to the description and the link below, or you can go to the links in the description below and you can get access to some of our communities like Cryp Nation, where we're doing a lot more analysis than just what we get to talk about over here. So thank you all for watching and we're going to see all of you at the same time, same place next week.
- [41:56]
Unknown Host
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