← CRYPTO 101
CRYPTO 101
Crypto Rundown: Why This Bitcoin Move Feels VERY Different, TAO Update, & Our Masters Predictions
01:08:03
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- [00:00]
Thibaut
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- [03:03]
Brian
Hey, man. Masters Friday. I don't know if there's a lot of golf fans out there watching the podcast or the rundown right now in, in the chat, but I get kind of fired up for Masters golf. I don't know if there's a lot of golfers out there, but as, as a kind of speculator in the gambling world, I do like to have a couple live bets out there. And I'll be honest, I got some good ones. So I might have, I might have a little, I might have a little sweat this weekend.
- [03:31]
Thibaut
Okay. Maybe we'll do a little prediction market pull up of the odds at the end of the show if we have time. If there's enough time. It's like Frank the Tank and old school. I don't know. I don't know if we're gonna have enough time. Cause this sheet is absolutely packed. What a pull there for the old school fans of the world. Listen, some good news, I guess this week again, we've hammered it on this show multiple times. There's a lot of macro events going on with this war. That's not why you're here, to deep dive into that. But it does affect markets. And there was a deadline the last time Brian and I were on earlier in the week, there was a deadline at the end of that night and they said that there was a peace agreement in the works. And then after that, markets rip, the S P rips, NASDAQ rips, Russell rips, bitcoin rips, ethereum rips, Pudgy Penguin. Everybody was up. Everybody was up. And then, you know, then there's a little bit of volatility. But for the most part it has stayed to the upward trend at the end of the week. And whenever you see that, Brian, whenever you see a little Rip like that. It kind of reminds me, you just, you gotta, you gotta respect the pump. One of my favorite videos of crypto Twitter. You just gotta, you gotta respect the pump.
- [04:37]
Brian
I respect the pump in all assets. Why? Because it's kind of like karma, you know, the power of the pump always comes back to you if you respect the pump of other people. It's crazy but I have this belief that whatever pumps you have to pay respect because otherwise if you like, oh my God. This, this scam coin, this scam coin is pumping again. Actually you are kind of rejecting, you're rejecting the pump from your life. Maybe it's a bit out there, you know, but we all gotta believe in
- [05:03]
Thibaut
something and I do we all gotta believe in or something. Respect the pump. And that is exactly what we did this week. Into the market. Seven day the coin market cap 20 up 8. Bitcoin up. Just kissing under 9 there. Ethereum 3. Let's see what some other winners. Hyper Liquid 16 this week. Chain Link 4z cash 60% on a seven day. Did you catch that one? Hands up for Zcash from Brian and then I'm sure we'll see it somewhere. Bit tensor in the 24 hours. This little teaser here. Bit tensor down 20% on the 24 hour window. We are going to cover that on the back end of the show. It is in our sheet, it is something that we covered. It is something that Brian and Joe called out in their private community a while ago. They got a great pump out of that and there was a huge update inside the community. If you were one of their first alert peoples getting their newsletters that would have helped you avoid this 20% drawdown. So that's a little teaser for later but let's focus on the green for now. Respect the pump. Brian, what are you thinking?
- [06:06]
Brian
I'm loving it. I, I to a little bit of alpha here. We actually, we usually do like micro caps and smaller coins within our community but actually this week, which we recorded on Wednesday, we actually called out zcash and made it one of our calls. I don't like to do multibillion dollar market caps but that coin just looked juicy at the time and it was already pumping a little bit. But I think even since the call it's up about 15, 20%. Just a super attractive coin. But when we look at kind of the majors that we always love to talk about, I mean Bitcoin might hit 73,000 here. Thibaut get us out of that upper range and hold it and we might be eating Steak and lobster for a little bit longer than we thought. Get away, get rid of those pouches and cans of tuna and we might actually start breaking it out. I don't, I don't want to get too excited here, but I'm a little fired up. It's a FOMO Fun Friday here. Bitcoin sitting at 73,000. We got a. We got Fear and greed meter at like 49, which feels like, feels like it's a hundred. I mean, you know, we were, we were talking nines and teens a few weeks ago. So it does feel like the market is embracing kind of this geopolitical issue. We got the ceasefire, hopefully that all just, just not even because of the markets. Like, nobody wants to be in war, nobody wants to be in these conflicts, but hopefully that all just shakes itself out and we continue. But the market likes it. I mean, we got, we got Ethereum closing in on 2300. We got the good old Sol in the 80s. So it hasn't just absolutely fired off, but we're in that upper portion of the range and we're holding strong. And again, there's a lot of catalysts we're going to talk about today that we might have bottom ticked a few months ago. There's a story we can build that. That could have been the bottom tick with all that volatility. And now we're just going to slowly kind of grind up again. That's not telling anybody to go max leverage or throw all your dry powder into these coins. But this is certainly a positive direction and I absolutely love it. Man, I'm loving it for a Friday.
- [08:14]
Thibaut
Yeah, the Friday vibes are high. And again, you're, you're seeing, and we, we've said this multiple times of, like, you're seeing the markets telling you where it wants to go barring this macro overhang. And you got a little bit of relief of that. But I don't think the last touch on the macro is like, this isn't over. Like, you just. If you follow this stuff like we do, there's all these headlines of Iran isn't listening. They better listen. And then, you know, Israel better stop doing this. Lebanon needs to stop doing that. It just feels like there's so much noise coming out from this. I believe the US is sending a team over weekend for some in or not necessarily going to Iran. I'm sure they're going to a neutral place, but there's going to be some talks this weekend, so there's going to be a headline driven week into next week. So something we're going to watch. We'll cover it next week early in the rundown, but that's it for the macro. These pumps are good. I think they're telling you where the market wants to go. But they are, you know, they are a little dependent on, on the outcome of everything like we've been covering. But I think, I think the pain trade, I've been thinking about this before we came on. I think the pain trade is higher. Like it feels like everybody, you know, we kind of covered it, I guess. Do I flip to that? I just wanted to note like we haven't had Brendan on the show in the while. In a while because he's been doing his trading course, kicking off that new cohort. We're going to have him on next week. We'll do a little deep dive, some more technical analysis, but maybe a little, little double bottom there on the fear and greed. Dare I say, dare I say. Looks good. Looks good. Any, any, any of those times. You can go buy down here. It looks, you know, over, over at least the course of the last, what, five plus, you know, history of this thing. It's, it's, it's a good time to buy. But I guess we could roll into skipping around the sheet here a little bit. But let's go into what we were saying with the data. What are we seeing? What are people betting? Because if you remember, we were kind of, we brought this up. People were looking at bitcoin to fall to 60,000, 50,000. Will Bitcoin trade below 50,000? All the cow she bets, it started to get to the majority. People thought like 50% under 50, it's 75 under 60. That's where the majority was leading. We talked about on the show and I, what did I say? Do you remember what I said, Brian? What's my favorite. What did you say? I said same side of the boat. And it's on the tweet. You could have saw it there.
- [10:28]
Brian
That was easy. That was easy.
- [10:30]
Thibaut
Same side of the boat. It's like when you start to see the prediction markets have this conviction that this is going to happen espe. I guess sometimes I think prediction markets are great because if you're doing an event and we were talking about this with like the super bowl, like somebody always knows. So you can find some alpha there, in my opinion, for the bitcoin price. We say this a lot. It's like if somebody guarantees you what the next 10, 20,000, you know, dollar move in Bitcoin is, they don't know they're lying to you. If they guarant, they can't guarantee it with their life. So I, I, I personally like, this is why I like polymarket like Kalsi to kind of take it into my data digestion of like understanding where do people think it's going to go. And, and it was lopsided to the downside. Now it's flipping. Now it's flipping. Now we got a, let's pull it up here to get the exact number seven. So the 75% was for 60,000. Now it's flipped. The 74% is for 80,000. Now we're going, now we're heading back to the moon. Once we hit 80,000, what's stopping us from going to a back to a hundred? You know, who, who knows? I think obviously maybe 100 could be like you like to say, a magnet maybe, maybe for this year eyeing that back up. I, I agree with you. I think it's grinding higher. But is there's a pain trade I think in crypto right now, especially for bitcoin, if this thing starts to go a little bit, everybody's been waiting to go buy at 4050k. Is, is that something that you agree with and then you know, with these odds flipping, what, what is that telling you?
- [11:54]
Brian
Yeah, I think there's a real world here that there could be a pain trade because we saw, I mean the majority we're going to talk about in a little bit, the majority of buyers. It feels like our institutions and smart money and a lot of the retail has dumped their bags. And I get it, I get why they did, especially if this was their first cycle, their first go around. They're, they're not built like everybody else where like a 40, 50% dip, it's like, all right, we're gonna bounce back and as we start to grind up, there's going to increase a sense of fomo. People are going to FOMO that they're not going to get that bottom tick, that 50, $60,000 that they were hoping they were going to get that starts moving to 80, 85. And then we're starting to get into a really, really juicy, exciting range. The timeline ourselves are all going to start to feel a little bit more wealthy again. Might start speculating again in the coins. The overall just crypto market cap should rise. I hate to get ahead of myself, but man, would $80,000 bitcoin feel good. It'll personally cause some FOMO. With myself, I've been dollar cost averaging in as much as I can with the dry powder I can basically find in my couch cushions. But when we get to 80, 85,000, those kids college funds might just have to get rolled over into something. It would just be good. I think the FOMO's real. I think the pain trade that you're breaking out is a real thing. And it's great to see where we're hanging out with bitcoin right now. We still have a little ways to go, but this is how it works. Every cycle, thibaut that we're just in the bottom of the barrel pane, we're staring at each other. All the news on the timeline, you do the rundowns all the time. It's kind of negative news. Everyone wants to talk about quantum computing ruining crypto or anything that they could pick out. I just saw there's an energy crisis, so crypto's got to go. Those all start to kind of bubble up again because the price is down. I think we're going to start seeing less of those headlines and more of the big headlines that we're going to talk about in a little bit. And we're going to slowly grind up because like we've preached on this show at all times is that you gotta zoom out. You kind of have to embrace the volatility. That's what brought us to crypto in the first place. And we can move very fast in an upward motion. And again, we just need a few catalysts to start that fomo. So I love your point of view about this. In the pain trade.
- [14:20]
Thibaut
Yeah. And it's okay. Well, it's slowly rising and who's buying? So I don't, I mean, I, you know, I think there's, you know, people in the industry that have conviction that are taking these levels to, you know, buy the dip. But, you know, we're seeing these ETF inflows pick back up. We covered it. Institutions like Morgan Stanley are stepping in. Their ETF just went live. And we compound that with what the betting markets are showing you. So it's like it's not just, hey, bitcoin's going up, it's who is buying and why are they doing it right now. And so the Morgan Stanley ETF launch was a huge success for them, which is awesome to see. I can pull up the official stats here. We'll share this tab. So the official day one stats for the Morgan Stanley Bitcoin etf. These are via Grok, summarizing all the Bloomberg tweets and all that stuff that we, you know, see online. I summarized this for our tweet it was net inflows of 30.6 million for a first day that was second only to BlackRock's 40 million. Bitcoin purchased 444.4 and the trading volume was 34 million which was, which is great. They were, they were super, super excited for it. The assets under management at the end of day one was around 31 to 34,4 million. And then I have some clips of Morgan Stanley talking about it. So here's clip one. This is Amy Oldenberg, she's Morgan Stanley's head of digital asset strategy. Got to try to find a way to find her and get her on the show. But let's see what Amy had to say. It's a two part clip here. So this is part one terms of
- [15:51]
Mackenzie
where the market is. But I have to tell you in terms of the pickup we saw yesterday, the first day of trading, our best first day of trading for any of our ETFs. Wow. Since we've seen, started the ETF product line a couple years ago. So I think that speaks to the demand that's still out there for the Bitcoin ETF. Almost 1.7 million shares traded yesterday and at 12:00 today we are already having another good day today. As you said, there's a, it's a nice, it's a nice week in the market. A nice day in the market for some pickup in bitcoin and the markets to help us out there.
- [16:21]
Thibaut
So then you ask the question, okay, it was great day one. It's something that their advisors are going to start, you know, offering to their client. But does it stop there? Is this it for Morgan Stanley for crypto assets? So let's take a look.
- [16:37]
Mackenzie
We have to start with, we have to start with Bitcoin. That is the largest market cap. Oh gee, OG it wouldn't be right if we didn't start there. But this is just the first of a long roadmap of new products both on the asset management side. As you know, we have plans for our wealth business and a number of rollouts there with spot crypto trading coming soon. And then even on our institutional securities business, tokenized equities and other tokenized assets. That's all in the works and we
- [17:03]
Thibaut
have to start more in the works. Brian, what's your takeaway from Morgan Stanley's launch this week?
- [17:10]
Brian
It's enormous. I mean this is second to BlackRock's ETF. It's their most successful ETF, did she say, of all time? I heard they have 16,000 financial advisors. 16,000 financial advisors, a lot of advisors that are mostly all pro Bitcoin. I believe that they said anywhere between a 2 to 4% allocation into Bitcoin or cryptos is what they were suggesting to people. So that's a massive amount of financial advisors that are going to get educated and onboarded into Bitcoin to start things off. And now they can finally start offering this to their clients. And I think there's, that's cautiously, very positive and constructive for the entire crypto market. I think it's amazing. We didn't want this to flop, I'll tell you that much, Thibaut. We didn't want this to be the second worst ETF of all time and their worst etf. So this is great news to see that there's still a demand for these ETFs and the price is holding strong. It's kind of shaken off all the, all the Trump tweets and the daily news. You know, we've just been in this upper range of the channel. It feels like we bottom ticked a few weeks, few months back when we were kind of talking about it. Now it just feels like there's an opportunity to break through. And this is like the first catalyst out there is Morgan stanley. And there's 16,000 advisors are going to be out there talking about crypto, talking about Bitcoin, reassuring people that this asset and asset class is here to stay. And it's going to change a lot of different markets in the positive way. So I think it's huge and I'm optimistic that this continues to show the growth. I think we saw like 3 to $400 million in ETF positive inflows yesterday. So it's not just Morgan Stanley. There's just strong ETF inflows overall.
- [18:54]
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- [20:46]
Brian
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- [20:52]
Thibaut
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Brian
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- [21:15]
Mackenzie
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- [22:02]
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- [22:15]
Thibaut
Yeah, let me pull up those for you. You can break them down. Let me know where you want to click around.
- [22:20]
Brian
Yeah, I think I just linked because the Ethereum one, but what's that say? $343 million in Bitcoin ETFs, positive inflows. When we had our rundown on Tuesday, we were also hundreds of millions of dollars in positive inflows. So you're starting to see that the overall market is starting to embrace crypto. They're starting to shake off all this fud, the fear, uncertainty and doubt, and people are starting to allocate more to their portfolios. And this is what we. This is, this is how I expected things to happen as well, once we started to kind of grind out of this bear market. And I don't want to say we're out of the woods yet, but we're starting to grind out the bear market. We were, of course, we're going to see institutions and banks continuously adopt, talk about it in a positive way and see positive inflows. That was a huge step because when we were in that bear market of bear markets at fear and greed, at 9, we were seeing outflows. So now we're starting to see some positive inflows. I think a lot of these positive inflows are going to be very impactful. And then everything we could. We, we don't have to get in depth about this because we talk about so much, but we got what Michael Saylor's been doing, we got what Tom Lee's doing. These guys aren't looking at. This is like, oh, no, I was wrong. They're looking, hey, this is a huge opportunity to continue doubling down because this is what, this is kind of what happens in crypto. You know, nobody likes it, but volatility is what it is. But once we get to 100, 120, 150, $200,000 Bitcoin, I'm going to be really happy. Even if they were small, I'm going to be really happy. With the buys I was making this past couple months today, in the next few weeks.
- [23:57]
Thibaut
Yeah, it's hard to. I always compare the era, like pre ETF and post etf, like pre etf, you know, when FTX was happening and you don't know about the regulation, it's like, this is. My personal view was like, it was hard to like, when all that was going on and you're in the industry and you're doing this every day, you're just like, man, where's the floor for this? This is bad. And now it just like, it definitely feels like maybe the volatility to the upside. We've heard that over the years, you know, might scale down A little bit like you're not going to get Those, you know, five 10x20x on Bitcoin anymore. But also, but also it's, it kind of gives you a little bit better maybe view of the downside. It's like, okay, yes, we're in this huge drawdown, almost 50%, right? Classic, you know, bitcoin dripping to the downside, you know, taking, you know, hearts and souls with you. But like, you know, it's like at the same time, Morgan Stanley launches an etf. And it's the best, you know, ETF that they've ever did. Even though they don't have, they're very, it's two side to the Morgan Stanley coin. They don't have a ton of ETF products because that's not their bread and butter, but they're very selective about the ones that they do. So I think it's a huge nod of, of strategy of where they see this thing going. I don't think Morgan Stanley, BlackRock and all these people, they're not, they're not going through the hoops to offer this product if they think this is going to be out of style in two or three years. I think me and Brian are going to be with you two, three years from now celebrating that we were, you know, in the trenches back in 2026 here, early 26, because there's so much to learn and grow in the space and it's been super fun. But Morgan Stanley is not the only one that is saying, you know, hey, dip the toes in the water, come on in, it's warm. Charles Schwab says 1 to 3% Bitcoin or Ethereum can reshape portfolio risk. I think that's a funny headline from Cointelegraph because it sure can shape portfolio risk to the up and the downside. For others, they suggest up to 8.8% bitcoin allocation. An aggressive portfolio is at 15% return assumptions. So we could pull up this chart, look it over, you know, conservative, monitor it aggressive kind of looking at what you want to do with some options for Bitcoin and Ethereum from Charles Schwab. So again, it's like these are the tea leaves. Like I, I, this is the stuff that, you know, my friend. It's the same. It's always the same. It's like when, when bitcoin and crypto are ripping and I wear my little Mona Lisa sweatshirt, all the boys think, you know, I'm worth a hundred million dollars. And now, now they, now they look at me like I'M poor. They're like, you need me. Like TiVo, you want to go to die? I don't know if TiVo and go like Bitcoin's, you know, under 100K. I think he lost all his money. So what do you think here about Charles Schwab giving out some. Some numbers here?
- [26:43]
Brian
It's great. And I am absolutely, probably a little bit. If I met with Charles Schwab right now, they would. And talked about my portfolio, they would probably be like, hey, we're gonna put you in a new category. Extreme aggressive. Because I'm allocated a little harder and a little farther down. Not saying that's financial advice for anyone, but this is. This is great to see. This is what we would expect when we're starting to come out of the bear market. We're starting to get just trickles and trickles of a little bit more positive news, especially coming out from major news media, from major institutions, major banks. So this is really great to see. So along with Morgan Stanley news, we got the Charles Schwab News and then BlackRock and the Fidelities, I mean, they're just chugging along as well. So excellent news. And this really going a little off the beaten path here. But this time, what I've been spending a lot over the past couple months here and a reason why I did recommend zcash to our community recently, and it was, it's because I think there might be a few really undercover undervalued alts. So everybody really wants to just kind of see what's performing right now and why they're performing and. And is that going to be some of the next big runners? I just remember like last cycle, I think Solana hit like, like eight bucks or something, you know, in the bear market. Then it got all the way up to hundreds of dollars. So kind of what. What's going to be the real big winners or what are the next really juicy alts? And I. A few come to mind. And this isn't for any reason to go out and ape these because, you know, there's still a ton of volatility in this market. But I think zcash tells a really interesting story. I think the hyper liquids tell a really interesting story. I think there's some really undervalued alt here that I'm not exactly just like aping in and buying, but I'm like, all right. As bitcoin holds steady, as bitcoin goes up, as we see more and more bullish headlines, what alts are going up? 20, 30 40, 50, 60% on the week because that's where we might see some really big opportunity and big gains and then vice versa. You know, if we're seeing some that are major red without a fundamental reason why I might be a little bit more gun shy away from those coins. So I think there could be some really interesting alts upcoming in the next few weeks to months.
- [29:01]
Thibaut
Yeah. And I just want to highlight for everybody out there that's listening, the community aspect of what we do. So the podcast, free, YouTube, free. Brian said he mentioned Zcash to the community, was a great rip this week and they also will cover it later in the show. Grabbed towel. You know, when it was on the uprise, that was a great call. And they actually gave a call this week to maybe, maybe trim some of it. Again, you got to make your own decisions. We're not financial advisors. This isn't personal financial advice. This is just educational nature. But some amazing calls from Brian. So if you're ever interested in getting into that community, getting those first alerts, there is a link in the description. And then just to call out the Solana one, because I remember this very well. This is from Crypt Nation community. I remember it went down to about eight bucks. You're right. I have it up on the screen here. I'll pull it up. But so I remember it was 2023. We had like a, you know, coin of the free. It was like a fourth of July promo. It was like the Freedom coin. This is the coin we think is going to perform the best the rest of the year. It was July 4, 2023. I was an Uber in Brooklyn. I was going over the Brooklyn Bridge, going to a July 4th party on the harbor with Tiesto. I'm in, I'm in, I'm in a. I'm in the car and I get the email for the coin promo and we're trying to figure out what it was. And Bryce said, we're doing Solana, let's do Solana. So July 4, 2023, Solana was about 1918 for, for, you know, community wide promo for crypto 101. So that was an absolute killer. Obviously went, you know, all the way from 20 bucks to 257. So you take that any day of the week. But you know, all the more reason. We love doing this with you. We love being, you know, a part of your, you know, crypto consumption on the audio airwaves, on the YouTube. But if you're interested, check the links in the description, get more involved. We'd Love to have you in there. And then if not, at least give the video a thumbs up and subscribe. That's the least you can do for us. We love you guys. Who's here in the chat?
- [30:57]
Brian
I see.
- [30:57]
Thibaut
Holy whales. That's our guy. Number one commenter. Holy whales. Absolute king. And then the CC's in here as well. Where's everybody watching in from? Let us know in the comments. And as we transition to. Oh wow, sorry. So all that, let's tie a bow on it. Sorry, I forgot to pull this up one last time. So all that stuff we just talked about, ETF inflows, Morgan Stanley, Charles Schwab, all this stuff, it just hammers home that graphic that we loved from last week, Q1 2026. Who is buying? Who is selling? Individuals are selling, Businesses, governments and funds and ETFs are buying. We hammered that graphic last time, but it was just a nice little bow tie on everything that we just talked about. We got a little rumblings. I'm seeing this on the timeline. I know you are too, Brian. We're getting some rumblings. People want crypto legislation at a high level. Clearly there's been a ton going on on the macro level, but it looks like Treasury Secretary Scott Besants coming back to it. We've played some clips recently from Paul Atkins. They're kind of pushing forward to the Clarity act as we covered on the show. The Genius act seems to be going into implement, but the Clarity act, they're saying it needs to pass. The time is precious and now is the time to act. From our Treasury Secretary, Any just open forum here. Anything else you're seeing on the timeline about this? I just see more high profile tweets than anything. I don't really see any stakeholders quite talking about it yet.
- [32:26]
Brian
Well, we had Brian Armstrong kind of double down and kind of mention or retweet besense tweets. So Secretary Scott Bessant called on the Senate Republicans to hold a markup on this Clarity act, something that's just huge for us in this upcoming year, and immediately send it to President Trump's desk. We even have Coinbase's CEO Brian Armstrong backed him up, praising the bipartisan bill in the work behind it. So really some of the big news here, I think this happened like two days ago. The White House released a report showing that even so in the Clarity act there's this. We got the crypto side, the crypto people and then the banks, and it's all about these stablecoin yields. I'm sure, there's a little bit more devil in the details, but that's really what everyone's talking about. And the banks don't want to offer this massive amount of yield through the crypto companies because they're scared people are going to pull money and put in the, put in the crypto companies hands. Well, the White House released a report showing that even a full ban on stablecoin yields would only increase bank lending to about 2.1 billion. That's 0.02% total of the US bank loans. While it would cost you and me and all the consumers TiVo $800 million in lost returns, this basically destroys, in my opinion, the main argument and gives a huge crypto side advantage. They calling it, the White House is calling it a rounding error. So that report was really interesting. And then we have Scott Besant coming on and putting more and more pressure on. I think time is extremely important. We've talked about this in our community. I'm pretty sure I talked about it on the rundown is that we have midterms coming up. We got a lot of these senators that are just going to kind of like concentrate on their midterms. So we need to get this kind of hammered out in the month of April into May before midterms and everybody pretty much stops working on these bills. So very important timing. Love to see Scott Besant pushing for this. Love to see Brian Armstrong. And I do. I like the White House releasing a report pretty much showing that even a full ban of stablecoins would only increase bank lending by a couple billion dollars. And that's a report. I'm not coming up with it. I'm just reading what's exactly being presented. So it's starting to make me feel like, do the banks even really want to get this done? Like what's happening here? Because they literally called it a rounding error. So it doesn't seem like it's a, it's a huge, a huge point of a huge argument for the banks right now. It seems a lot of people are starting to side with the crypto side of things. And then when you talk about it would cost. In this report, it said it would cost consumers $800 million in lost returns. Like we want that, man. I mean, I get taxed on everything. I get taxed on my wages. I go and buy something, I get taxed on it. I get more money, I get taxed on it. I get taxed left and right. Give me a little bit of an opportunity. And that's why I'm in crypto. And that's why I love it. That's why I love the decentralized nature of it. And they're able to offer something to consumers that banks aren't able to offer right now. So I really hope this. Either way, I hope this gets pushed through because I think it's just either direction, there's a lot of. There's a ton of lock liquidity on the sidelines until we actually get this market structure bill or the Clarity act across the desk and finalized. But it's starting to pick up a little bit. You know, we got less Jamie Dimon yelling at reporters, saying, if Coinbase wants to be a bank, be a bank. Now we're getting, you know, literally the treasury Secretary of the United States calling on state Senate Republicans to get the markup done, get it to Trump so we can get this moved. Because I think they know that time's really crucial here.
- [36:04]
Thibaut
Yeah, I mean, what we started a revolution over taxing our tea. So, you know, there's a lot of taxes to go around these days. I think I was talking to you and I. Ooh. But hey, if you're getting taxed, it means you're making money, which is always a good thing. And we'll leave the tax debate to others because we're just focused on the ladder of making some money. Shout out to cc all the way from Port Elizabeth, South, South Africa today.
- [36:30]
Brian
Get out of here.
- [36:31]
Thibaut
Get out of town, South Africa.
- [36:33]
Brian
I need. I need proof. I need proof.
- [36:39]
Thibaut
That was earlier in the week. Somebody said the Isle of Man. That was awesome.
- [36:44]
Brian
These people are absolute legends. I love everything about it. Love this community.
- [36:48]
Thibaut
The community is unbelievable. Really appreciate everybody joining. Give it a thumbs up. Subscribe if you're new. Bottom right, hit the logo. Tao. So this program has been talking about Tao a lot and we've covered it many times. The community was even covering Tao earlier on both sides. Newsletters from Rohit, calls from Brian and Joe, and obviously. Let's start there. Let's start. We got to go back to coin market cap. Let's bring up Tao. Let's bring up the price action just so we can kind of do that zoom out view. It's something that we've been talking about for a while. So again, if you're looking Even in a one month, it's still up 35%. But I know our newsletters, I mean, we've been talking about it all in this range, but specifically down here, I know, is when your guys's call went out. Right off to the community. To say, hey, might be worth looking at something down here for tau. And then if you kind of go closer here, there was a drop off. So there's some news around what's going on here. Down 13 for the week. I think it was a 20 drop we saw in 24 hours. And there's news behind this. So let's, let's. Before we break down the news, I'm just gonna plug the community one more time for Brian and Joe. So in the link below $1 trial, you can get their newsletters, you get their first alerts, all that and it's always educational in nature. It's not financial advice. But this week on Wednesday, Brian and Joe were having a conversation and kind of, let's have you explain it, tell how it came about, the timing of it and then we can go into the news that ended up, you know, being, being a great call.
- [38:27]
Brian
Yeah, this had nothing to do with me. I, I think even in our newsletter I still mentioned that I still hold Tal and really like Tao and I'm still their subnets and I, and I am. But Joe, who probably made the most recent Tao call recently and it did very well for people, actually was breaking it down. He was kind of breaking down, just kind of like, hey, here's a few past calls, here's a few winners. And Tao of course popped up there and he actually took a look at it and he mentioned that like this might be the time to take profits, specifically with that coin. And I actually asked, I wrote it down here because I wanted to make sure I got it right, he said due to technicals, but he felt like it was still a good long term hold because it was hitting the top of a descending trend line. You know, Joe doesn't do a ton of ta. I don't do a ton of ta, but sometimes it can just jump off at you. And he said it took about six months to get back to its previous low support and it might take some effort to get through it. This was really from that point of view. I wish I listened to him. Full disclosure, I, I didn't. I still hold my towel. And we'll go through the news of why there was this sharp drop off because we were seeing Tao getting talked about everywhere, man. It was the talk of the town. It was in. On the all the all in podcast, we had major people talking about some of these subnets, talking about Tao the AI, the decentralized AI model. I am such a big believer. But then as we all just looked at, we saw Tao sell off sharply in the past 24 hours. And what happened? It was a major dispute between Confident AI, the team that runs these big subnets. And subnets are something that's built on the Bittensor network. It was Templar, Grail and I think basilica. So these three sublets out of the 128, three of these are run by this team and the Bittensor co founder Jacob Steves and then pretty much had a pretty a battle and, and emissions to the subnets were cut to zero they say. So they announced that these, these subnets, these three subnets they announced, this team said that they're fully exiting the Bit Tensor network and called Bittensors. They're very decentralized but they called it decentralized theater which caused a lot of problems because we haven't seen a subnet fully exit like this especially. Templar was the number one sub subnet on the Bittensor network. I've actually given it out as a recommendation because they were doing some really great things. But there was something going on in between these two, two sides between the Covenant AI team and the Bit Tensor side. And then Bittensor basically said this was about accountability and performance and more importantly it's now about accelerating more real governance and changes like lock based subnet ownership. So investors can see long term skin in the game up front. Up front I, I kind of verbally vomiting a lot of just this battle between major subnets and what's going on in Bittensor. But essentially these subnets are like we're getting off of the Bit Tensor network. They sold eight figures worth of the Tau token. So we saw a huge dump of the Tau token and they, they just left the network. They're like we're out of here. This is not the death of Tao. In my opinion. The network is way bigger than three subnets. Near term it could cool off and rally as speculative money continues to rotate. But longer term I really do believe that more transparent governance could actually be really healthy for the project. And they need to figure out how to keep these subnets happy, make sure the emissions are fair. So this is almost a little bit of a learning situation for Tao and the Bit Tensor network. And we saw a huge correction here, man. I mean this, this almost, this lost like $80 in 24 hours. A huge drop down. It has looked like it's, it's stabilized a little bit here right around 270. So there's two ways you could play this. You could be like, hey, this may be the time to dollar cost average in thinking that taosgate Bounce back and they're going to improve the relationships. These subnets are gone. You could just be like why would an AI developer choose Tao if they want to build in a decentralized nature? So that's something I'm personally going on through. But hats off to Joe man, if you're listening. Joe telling everyone that the technicals look like it was a good time to sell and he nailed it there. I didn't listen to him and I should have and I'm not sure how many people in the community did because Tao was just looked like it was on a rampage to all time highs. And I, I do still really like it. I don't think it's the death of Tao, but this was a big blow and it caught a. It's getting a lot of fun out there on the timeline. Tebow.
- [43:15]
Thibaut
Yeah, a little lot of fud, but also not. There's some bottom ticks down here. So you're in this, you're in this range as learning from Brendan, a little bit of a descending triangle. So there's your, there's your playground for speculation, if you will. And again, you just got to learn what type of investor you are. Are you, you know, a year, two, three years out of, you know, is this something that you've educated yourself on and want to get involved with? And that's what this show and our community is all about, is giving you the options. And that's my favorite part of, you know, it's, it's a, it's a little bit of like a lucky call like you said. You know, Joe saw the technicals and the subnet basically kind of rugs, if you will, the, the Tao token a little bit for that latest move. But like that's what's so cool about our show. That's what's so cool about our community is, you know, we all, I think from a macro level, a zoom out level, believe in this industry where it's going and it's higher. Right. But like we have so many different personalities, so many different views, so many different expertises that we all bring something different to the table. And that's the cool part of being involved. You know, whether you're just listening to the show and I bring, you know, everybody, I try to rotate you. Joe, Brendan, we're going to get, you know, Bryce involved. I think he's back. He's going to come on the show this month, get some other people involved maybe. So, you know, that's, that's kind of what I love about doing this is is we're not. We're not all in lockstep and have the same exact opinion and the same trading. Like, we all kind of come from different areas with different, you know, views and expertise, and I. I really love that.
- [44:43]
Brian
Yeah, it's. No, you're exactly right. There's always different points of views and different trading styles in. Risk appetites, in. And I think that's something unique about our team because we all bring something a little bit different. But this sucks for Tao in the short term. Certainly you don't want to lose the biggest subnet.
- [45:00]
Thibaut
I mean, we covered it. And I think, you know, I just try to say credit to us in a way of, like, the community. We've been talking about this project for a while with newsletters in the community, but, you know, when it gets to the point where we're on the show and we're showing clips of the all in podcast and Jensen Wong talking about Tao and the subnets, and then, you know, that weekend I go and I Uber and my Uber drivers being like, you got Tao. You like Tao. You're in crypto. You like Tao. I'm like, God, the Uber driver's telling me, tao, like, we've. We've seen this before. Ring the bell. Ring the bell.
- [45:32]
Brian
He's telling. He's telling you about subnet 114 and why they're building the greatest decentralized model ever. You're like, okay.
- [45:39]
Thibaut
You're like, okay, look, my brother. My brother's a marketing expert. Expert. He really is. And they're building some really cool AI tools and he makes some content. He's newer in the content game. I'm giving him some. Some pro tips. Kevin's killing it, though, but.
- [45:55]
Brian
And Doug, there's nowhere I wouldn't go to help someone customize and save on car insurance with Liberty Mutual, even if it means sitting front row at a comedy show.
- [46:05]
Mackenzie
Hey, everyone, Check out this guy and his bird.
- [46:07]
Thibaut
What is this, your first date?
- [46:09]
Brian
Oh, no. We help people customize and save on car insurance with Liberty Mutual together. We're married. Me to a human, him to a bird. Yeah, the bird looks out of your league. Anyways, only pay for what you need@libertymutual.com Liberty. Liberty. Liberty. Liberty.
- [46:23]
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- [47:24]
Thibaut
He did. I was like, I'm watching his stuff and, and I am scrolling and he makes a. He makes a, you know, a piece of content about the Tao, you know, Jensen Wong and all in talking about Tao and breaking down town, like, oh, my God, if my brother's talking about town, we gotta sell, sell it, sell it.
- [47:44]
Brian
I mean, Joe, Joe, Joe nailed it, man. Joe Joe basically was like the technicals. This is a tough range. And nailed it. And I, man, I kicked myself for not listening because we all get kind of caught up in the hype train, right? You know, we all. I love the bullposts. I love it. Everybody loves it. And AI and crypto go together like peanut butter and jelly and talisman, the biggest decentralized networks. So again, I'm just going to reiterate my point of view. I don't think this is the death of Tao or Bittensor by any means. I think we're going to maybe go through a little bit of a rough patch here. We wanted to unpack everything and make educated and strong decisions. But I think there's a real path for this to go the right way and sucks in the short term. I mean, this hit the news wire late last night and I was like, dude, I was like, what is going on? And jumped in and started reading more about it and fully trying to understand. Exactly. And it just sounds like a little bit of a marriage gone sour. One person's saying, you're not as decentralized as you say. The other person's saying, like, well, you're not putting enough effort in and they had a bad breakup. And we probably won't even remember this in a few months now if there's some more bullish headlines around Tao. But right now, you know, if you didn't get out like myself, you're probably feeling a little bit of pain. But, you know, I'm not sweating it because I don't think TAO's going to zero. And I actually, man, I'm optimistic. Like, I. I'm the ha. I'm the. I'm the half the glass half full type of guy, but I think this could really give the bittensor and Tao ecosystem a better way to approach the subnets and how to utilize governance and these admissions. So it could be beneficial in the long run. But we're gonna have to see. This is. This is why we. This is still crypto at the end of the day, you know, this is still volatility in just one founder getting pissed off of another founder could cause major impacts in the market. But then we also have, like, grayscale putting. Dipping their toes into TAO and what they're building. So there's a lot of positives here too. I'm not exactly sure. I don't want to say it out loud right now. I'm not exactly sure what. What I'm gonna do with my towel bag or if I'm gonna buy more, if I'm gonna sell a little portion and move it into some other alts that I really like. I really need to chew on it for a little bit, but probably within our community. And next week I'll. I'll have a pretty good formulated opinion, but really need to see how this all unpacks over the next few weeks.
- [50:13]
Thibaut
Sounds like a good plan. We'll be. We'll be following along and. And talking. We got a couple more topics to talk. Anybody we can do for people? In the chat? I saw Eyeball jumping in. What's up, Eyeball? If you guys have any questions, we could do a little light Q A at the end of the day. Brian, what do I have to do to get you boys to read me a bedtime story? God damn.
- [50:34]
Brian
Not much, man. Just ask. Yeah, again, I'm. I'm from Pittsburgh. I told my wife about you. Holy Whale. I was like, man, I, like, started reading the comments with TiVo, and there's some really good ones. There's some that make me feel kind of bad, but there's some really good ones. And I was like, there's this guy, Holy Whale that said my voice sounds like butter. And she looked at me like I had three heads. She's like, you, voice butter. I go nasally butter. But we're something. We're more like margarine.
- [51:02]
Thibaut
Yeah. Yeah. I want to get Holy Whale needs a shout out. Another one from Spotify. Ethan. Ethan said, I never thought I'd enjoy an educational podcast, but I was wrong. So really appreciate you tuning in from Spotify there, Ethan? But yeah, if you guys have any questions, throw them in the chat. We'll have a little fun at the end of the show. You know who else is having fun right now? The Pepe people. Pepe's back pays back. It's files for this one for a Pepe etf. They've also, they tried filing for the Pengu that didn't go through quite yet. But may. I don't know, I actually, it didn't necessarily get denied either. Maybe they learned some things from the Pengo etf and then now they're starting to file the Pepe ETF because I feel like they wouldn't go through. This is just, you know, this is me trying to pull a rabbit out of the hat of the ETF industry, which I know nothing about applying for, but I don't think you would go file for a Pepe ETF if you had the Penguin ETF going and you kind of like, all right, this isn't going to get approved.
- [52:05]
Brian
Yeah, I agree with that man. And Pepe Pepe is an interesting token man in the bear markets. It gets whacked down. I think it was launched in the bear and I round tripped one of my biggest round trips ever. This is when I was working with DraftKings and Pepe was launch TiVo and I bought an absurd amount of Pepe and I was out and about and was refreshing my phone and I was like, oh my gosh, like I have so much Ethereum right now. If I convert this right now, by the time I got home, I lost like half the stack and wrote it out and it went to the deepest of bears for the longest time with the rest of the market. I ended up capitulating and selling and then it, then it absolutely in the next bull run when we had, you know, the past year, it absolutely went 2.3x what I had and I, I fumbled the bag worse than ever on Pepe. So Pepe, Pepe and me have this weird relationship because it is the most recognizable meme of all time, especially in crypto circles. It is a $1 billion market cap. I think it got close to 10 billion at 1 point. Has a viral community, it tells a good story and it moves in bull markets like we've never seen. I really do believe like, if, when, when Ethereum gets to its all time highs back there, Pepe could be one of those odd meme coins that people are like, hey, I'm back to speculating with it. I'm not even sure how it's done recently, but I'd imagine it's hanging out pretty decent. You know, it's starting to climb a little bit, but I, I don't think it's bad etf. And it's great to see that some of these. It's like a blue chip meme coin. That's exactly what it is. It's a blue chip meme coin. And I'm not surprised to see Canary file for this Pepe etf, because there's a few out there that are going to stay around forever. The Doges, the sheeps, the Pepe's, the penguins, the Rex. There's a few out there that just tell such a great. You could even argue farcoin. It seems like whenever some of these majors start to rally, these can really rally hard. Now, it's been down in the dumps for a while, but it's kind of one of those meme coins that's on my short list that, like, hey, when's a good time to enter and just, you know, hold on to your hats and hope it really starts to multiply? But. But there's. There might be some other attractive altcoins that I might pick over at first. I'm still kind of building out my own personal thesis.
- [54:33]
Thibaut
Yeah. Yeah. A little sprinkle on Pepe is always fun. Little sprinkle on any meme coin is always fun. Understanding the risk that you're doing. But hey, that's what we have you, Brian and Joe for, right? It's the. Their Navy Seals in the trenches, finding the alpha super think. At the end of the show, we want to. We wanted to circle back. So the, the pudgy penguin plushie from the last show was. Was something that got the people excited. And by the people, I mean me and you, because we saw this thing pop out of the box, right? And we were like, holy hell, look at that. And something that, you know, we think would be fun to get but, you know, your wife would yell at you. I would get yelled at as well by my girlfriend and my mother. So large of a thing. But that doesn't mean we can't have it. We just need to speak it into existence. So we said that we were going to pick a price point on the chart, and if Pengu reaches that by, are we gonna say by the end of the year, are we trying to say we'll give it a year? Which is, in general, if it ever reaches back to a point on the chart that we're gonna bring up, Brian and I are gonna go ahead and buy one of these giant plushies and it can be a friend of the show that we can put in the background. So what do you think, Brian? What's our, what's our look on the Pengu chart here? You kind of said it's like I want to pick some, you know, altcoins or meme coins. That in theory might be like a good place to buy. I mean, it's hard to historically see Pengu much lower than where it's at right now.
- [56:03]
Brian
Yeah, I, I've been thinking about this a little bit. I want the plushie. Like, I didn't want it on Tuesday, but the more I thought about it, I want the plushie and you know, I'm will, I'm willing to take the heat. I'm willing to let that plushie sit in the background for two years. You know, just this giant plushie. We. We need at least a double up from here. Yeah, we need. We need at least a double up. And that's kind of its looks like in January, we're like 2 cents.
- [56:35]
Thibaut
What about 2 cents? We want to break through this. So this is a double. But then it could fall back down. So it's like, what about breaking that, that resistance here at about the first cent and getting it to two cents?
- [56:49]
Brian
I think two. I mean, that's, that's just curling perfect. Two cents. I'm loving it. I might buy two plushies, man. If we're allowed to do a giveaway, we have to talk to legal or something. If we get to two cents, man, I'll buy two. And if anybody, we need to get approval. So I can't guarantee this. If we get to 2 cents, I would buy another one and send it to somebody. But I don't know if we're allowed to do that or not.
- [57:10]
Thibaut
But if we are, I would like to do. But man, all these people from around the world, man, are shipping is going to be crazy. Shipping to the Isle of Man, shipping to South Africa. It's going to be a ton.
- [57:23]
Brian
I think you're underestimating about how much Pengu I might actually have. So 2 cents. I might book as a PJ and go meet these guys in their destinations. So we verify that this is an actual international show. Love that pudgy penguin in the cockpit. We'll make content the entire way at 2 cents. I'm loving it. So we might have to get clarification on it. But I can guarantee you at 2 cents, I'm buying one. Guarantee I'll do it live on the show whatever I gotta do. Even if they're not available anymore, I'll buy it secondhand. I'll find that.
- [57:59]
Thibaut
Yeah, yeah, I'm sure the collectible industry, they'll be reselling those for sure. Especially the pudgy community, but that's it. Any, any, any. I didn't really see any questions? Holy whale. Thought it was funny that I was from Delaware. BTC harpist said, damn, I'm late. Well, that's okay, brother. Go back and watch it from the jump. Uh, any questions before we go? Any questions? Last call. Somebody said troll. You ever, you ever, uh, hear of troll? Troll?
- [58:28]
Brian
The meme coin.
- [58:29]
Thibaut
Yeah, he said, what do you think of. Oh yeah, yeah, troll.
- [58:32]
Brian
I know troll.
- [58:33]
Thibaut
What do you think? What do you think of troll? That's a question from the cc. He's been here from the beginning. We'll give it to him.
- [58:38]
Brian
Oh, I, I actually, I gotta be honest with you, I haven't looked at the troll chart in a while. Is that it? I mean the chart doesn't look great, does it? I mean, is that the chart? I, I, I, Whoa, wait a minute. A little bit of a bump there. I can't give an educated. I don't exactly know what's going on in the troll community right now, but this was a pretty major meme coin for quite some time. I mean it was, it was ripping during the meme coin frenzy. So I wouldn't be surprised. I mean it's still a $13 million market cap. I think it was all the way up to over 100, right? Or close at one point.
- [59:24]
Thibaut
274 at the peak.
- [59:26]
Brian
Man, that seems, that seems tough to get back there. But never say never. I mean that was the hype of the hype in the meme coin market where on chain runners were just happening. We're not seeing enough on chain activity right now to justify all these meme coins or most of them. I think there's some really interesting opportunities. But with that being said, once we start getting to that eighty, ninety hundred thousand dollars bitcoin, these are the type of tokens, in my opinion, that can roll because even though it's a 13 million dollar market cap, it's actually pretty decently healthy. And you can see what's it up 13% on the day. Volume's up 40%. So when markets start to bounce, certain tokens like Troll and Pepe and these other major meme coins can really respond closely. I'll do a little bit better due diligence on exactly if there's Anything going on in the troll ecosystem, but right now I'm probably not diving that deep into it, but probably one of the better. Sprinkle a little bit on it and just keep sprinkling on it because it's gonna probably run once on chain activity picks up a little bit. And how that happens is that we need the overall crypto market to pick up a little bit. And we're starting to see just the first inning of that happening, in my opinion.
- [60:45]
Thibaut
More to add there. That's your department for troll. We still got some people hanging around. I think they're, they're, they're digging it. They're digging it. So we'll pull a random topic from the sheet. We didn't know if we were going to cover it, but Brian snickered when he threw it on there because it's some crypto OG's fighting each other. So on, on who's actually divorced, CZ in the, in the news via the timeline, on who's divorced, who's not.
- [61:10]
Brian
This has nothing to do with crypto. This, this is essentially one of the most ridiculous things ever. But CZ who is probably more money than God and then Star who so CZ is the founder of Binance and then we have Star who's the founder of OkX. And just a little bit of background for everybody here is that CZ actually started with okx at the time it was called OK Coin and he worked there for about a year and broke off and started Binance. So CZ and Star, these two guys, they hate each other and you can see he's talking to Star here. And this isn't have anything to do with crypto at all. They basically cz saying like they're talking about CC's divorce, not divorce from Binance. How I first interpreted it, his actual physical divorce from his partner and he's now offering a billion dollars bet. CZ saying that I can prove that I'm divorced and Starz going back and forth. It's just like two insanely rich crypto founders fighting in real time on the timeline. It's just perfect for what's going on in the world right now. It's perfect for the Friday vibes. But really interesting story. CZ actually came out with a book, it was released this month and he bashed OKX and Starr in the book. And I think this is a decade long feud between these two. And Star didn't like some of the things he said in his book, took it to the timeline and then they literally started arguing about if CZ is divorced or not. And then CZ is trying to put a billion dollar bet. The funny thing is, is both of these guys have a billion dollars to win, to lose. That's how rich they are. So I'm not sure. But I'll tell you the side. If there's a polymarket bet that gets created, I am aping in to CZ's side because, like, he would know if he's divorced or not legally. Like, you know, it seems like such a weird battle to fight, but, you know, that's what happens every once in a while whenever the market's a little choppy. We got two billionaires for major exchanges fighting openly about if they're divorced or not.
- [63:26]
Thibaut
Crazy. Yeah, I don't have much, I don't have much to add there. CZ blocked us. He didn't block us, he unfollowed us during the, the famous. Do you remember that? It was like the Sam Bankman Freed. I don't even know if you were on the team yet.
- [63:43]
Brian
I don't think I was on the team, no.
- [63:45]
Thibaut
So there's like the day that CZ dropped the bomb on Sam Bankman Freed, it was like, you know, they were going back and forth and CZ was like, basically like, you know, FTX is, you know, I'm not, There's something like, I'm not doing anything with Sam. I'm not giving him any money. And I made like a meme of sumo. It was two sumo wrestlers. One at CZ's face, one at Sam bank and freeze face. And they were going at each other and it got like, got like, you know, 2,000, 3,000 likes and a bunch of reposts and CZ used to follow us and then he unfollowed us. And I was so, I was so scared. I was like, shit, Bryce is going to fire me. Like the biggest kind crypto just unfollowed us.
- [64:25]
Brian
And.
- [64:26]
Thibaut
And Bryce thought it was hilarious.
- [64:27]
Brian
But we love Steve, arguably, arguably the. Possibly the richest person in the world too. We don't know his like full worth, but he could be richer than anybody. So. Right. Super producer Tebow pissing off the players.
- [64:42]
Thibaut
Hey, man, I used to live in that world. That's where they found me. They found me in the. You want to talk about who's in the trenches? The meme trenches where I used to live. People forget, man. People forget. I. I've trolled so many people. Roger Goodell. I have a famous Roger Goodell one back in my barstool days. Got like, it Got tens of millions of views. It was unbelievable. There's some of my best work, some of my best troll. You want to talk about troll? I was a troll.
- [65:07]
Brian
Portnoy probably loved it, man. Portnoy loved that against Goodell, bro.
- [65:12]
Thibaut
Those were the days, man. Those are the days. Just making memes during COVID and going after people like a true meme war. And then I, I got too hot off the jump. My first 101 meme and it's. Yeah, the richest guy in the world doesn't like us anymore. Let's see.
- [65:30]
Brian
Thanks guys.
- [65:30]
Thibaut
CC wrapping up with some comments here. Thanks guys. Had it in the bag, let go often you hype. I'm hoping pumps. I don't even. That doesn't make sense. But we love you cc. Eyeball, is it a good idea to purchase stocks related to cryptocurrencies? Interesting question. Obviously preface it with we're not financial advisors. We cannot give you eyeball financial, personal financial advice. So an education in nature. What do we think about stocks tied to, you know, cryptocurrencies? You know, you got your micro strategies, of course, you've got your bit mines which we cover tied to eth. There's a Tau X which is tied to Tao. There's plenty out there. I don't know, it depends on what your goals are and the research and education. So I'll go first here. Brian. I think like, I think like a Tau X, you know, and I don't know the total research, but it's just like trying to track tau. It's like, okay, so what is Tau X? Just trying to track Tau. Whereas like a bit mine has this plan to say, hey, when we think, you know, Ethereum is undervalued, we're going to try and buy 5%. And then they just came out this week and said, hey, when our M Nav, which is the value of the shares versus assets held is under. When our M nav is negative, we're going to try and buy back shares. So it's like we're not just going to ape into Ethereum. We have a strategy on what we're going to do and it involves staking and that's a revenue stream. And then what are we going to do with those revenues? We're going to have moonshots. They invested in orbs. They invested in Mr. Beast. So it's like that type of thing I think is more, I guess, well, I'm biased. Full disclosure. Bit mine guy here. So talk in my own bag. But like I appreciate the kind of the vision of it. It's like, hey, I might, you know, it's like a risk, you know, risk on. It's like I'm going to sprinkle on this and see how it does being such a new product. But they laid out what they're doing with their Ethereum plan. Whereas like just a stock that's just tied to kind of the price of the asset. Like you're kind of locking yourself in because stocks don't trade 24,7. Right. So if something's going on on a weekend for Tao, for example, last night, great example, Tao X. So if you're in Tao X and last night it's dropping 20, 25% off a cliff. It's 8 o', clock, you can't do anything. You gotta wait until 12 hours until the market opens. So that's kind of my take on it. What do you think Brian? In a general sense or a specific example sense? What do you think?
- [67:54]
Brian
Yeah, I mean there was just such a hype market or bubble in those crypto stocks, you know, a few months back and we were all absolutely loving it when BMNR was PR. Robin Hood's up 130. Up to $130. It was, it was electric times. I do have some exposure to some of the crypto stocks, but they're the same as you. It's like the bit mines and I have some hood I like, I like hood kind of what they're building but I don't, I don't know if that's, I, I get caught up because I just love on chain trading. I like trading on the weekends. I, I like, I like that idea. I follow the crypto market a lot closer but they're good proxy bets. I believe that the crypto market's going to continue to grow. So I obviously believe that Robinhood, who is very vested into a lot of these cryptos and the infrastructure of it could do very well and then bit mine. So I think people have to do a little bit of their own due diligence on this. Crypto, crypto stocks, not financial advice. But I, I do own some and probably have to look to see if I want to add a little bit to it. I, I don't hate it.
- [68:57]
Thibaut
It. Yeah, no, it's a great, it's a great question. It's always fun to revisit because there's, it's such a new that dat, you know, area of crypto and that cross pollination with Wall street is so new. Obviously micro strategy has been around For a while, but there's been so many more new ones. It's a fun space to keep up with, which we try to do our best here. And wrapping up Masters weekend, we said at the top of the show, I'm having fun. We've had people really locked in. The chat's been pretty active today, considering a friend of the show, Mike Collins, didn't get the email out, but we love Mike. Anyway, I wanted to bring up the Masters odds here, and then you can walk us through. You said you like where you sit. Does that mean you have Rory? You're. You sprinkle on Rory for a back to back. What do you see here?
- [69:44]
Brian
Yeah, I'm a little bit on Rory. I got some, like, top 20 picks. Like Patrick Reed, I hammered. Don't like him as a person, but he's sitting at tied for third right now and looks like he's one under through three. He's like the most hated guy, I think, on the PGA Tour. And I, you know, can't say I like him ton as a person, but I like Patrick Reed. I like myself some Rory. I have some Justin Rose, one of the classiest guys in golf. He's sitting in T3 right now. I'm actually going through to see some of the. I mean, I was on fire making. I got Lil Jordan Spieth. I got a lot of Jason Day. I got a little Jason day exposure. He's T7 right now. And what else opened in the last one?
- [70:30]
Thibaut
75% Brooks at 80. Who else did you say? Jason Day at 70, day 70.
- [70:36]
Brian
I mean, I got some live. Live bets going into the weekend, and a lot of them are outright winners, top fives, top tens, and I love the max.
- [70:47]
Thibaut
I think it's a great top 20. Your top 20s are looking good. That's great. Let's go to the. Let's go to the winner. Who do you. Who'd you sprinkle?
- [70:56]
Brian
I sprinkled all those guys. This room, all those guys I just mentioned.
- [71:00]
Thibaut
He's all over, man. It's hard to keep track with you.
- [71:02]
Brian
All right, give.
- [71:03]
Thibaut
Give us three.
- [71:04]
Brian
Let's.
- [71:04]
Thibaut
We're gonna. We're gonna get. We're each gonna pick three, and then we can revisit it next week.
- [71:10]
Brian
Okay. Okay. I like that, man. It's tough not to pick Rory, but I'm gonna go a little contrarian. I'm gonna. I mean, nobody's ever won the Masters back to back, but that guy's absolutely electric. But I'm fading Rory, even though if he cashes it. I'm happy. I'm going. Justin Rose, Patrick Reed. Justin Rose, Patrick Reed. Few underdogs here. And Jason Day. Let's go those three.
- [71:34]
Thibaut
Okay. Jason Day. All right. This is just me pulling it. Pulling it out of the hat. I'm gonna go. I'm gonna go. The comeback tour in the PGA for Brooks Kapka. So we're gonna take Brooks. He looks good. I might pull up the Masters leaderboard here. Masters leaderboard. I saw Brooks tied seventh, so I feel like you want to pick somebody that's in the top five. Here you have Reed.
- [72:00]
Brian
Who are. You can go the same one. I mean, Patrick Reed is the most hated guy on the PGA Tour. I don't wanna.
- [72:05]
Thibaut
I don't wanna root for. For Patrick Reed. I don't want to root for these guys.
- [72:09]
Brian
He's the worst, man. It's tough.
- [72:11]
Thibaut
I mean, I think. Yeah, you got to throw Scotty Scheffler because he just turns it on when he wants. Right? So I'll go Scotty.
- [72:16]
Brian
Geta do Scotty.
- [72:19]
Thibaut
Yeah. I mean, that's great to get him at those odds right now. Right? What is he. Did you see him on this?
- [72:25]
Brian
Yeah, he's second on the odds up there. He's right under 13.
- [72:29]
Thibaut
Oh, yeah. I guess there's not. I mean. I mean, not too much value there. Xander patch, I guess. Yeah. It just feels like maybe Tommy Fleetwood.
- [72:39]
Brian
Tommy Fleetwood, Maybe. Where's he on the leaderboard? I didn't bet him. I actually meant to bet Tommy Fleetwood and didn't because I just like his accent.
- [72:47]
Thibaut
He's minus one. He's getting a little down there. Let's just go. Xander Shoffley, I guess. Look at Xander. Lock me in. Yeah.
- [73:00]
Brian
I love it. I love it. I think there's a three. Three really good bets, man. Six really good picks. And let's see how it happens. I mean, Patty Reed, people dislike him so much. Holy whale. Goes. Love a good villian. Love a good villain. Go read. I mean, it's true. You need a villain in anything. You know, you need somebody to root against. But when you're on the same. The only reason I picked Patrick Reed is he gets such low love from the betting market because everyone dislikes him.
- [73:30]
Thibaut
Right.
- [73:30]
Brian
He was accused of cheating at Georgia, and he's kind of a. I don't want to say it because we might get flagged on the PGA Tour. And then he went to live, and he doesn't. I mean, he's just very, very punchable face, you know, Patrick Reed. But his Odds were just too good and he's won the Masters. This, this tournament at Augusta is, is, it's, it's the cream rises to the top. You need to be a repeat top finisher to typically win these things. There's outliers here and there like Danny Willets, but Jordan Spieth basically gave it to him that year. But I like all the picks we have. I think one of those six definitely go down. I might, I might sprinkle a little bit more on yours. Just have a little bit of vested interest.
- [74:13]
Thibaut
I love it. That's a good friend when he wants to ride your bets. I hate to end a show with our peak concurrent viewers. The show's as popular as it's ever been. An hour and eight minutes in. But we ran, we ran out of topics, so we're, we're gonna have to leave everybody there. We'll be back next week and let us know if you like the wrap up show with the betting markets. Obviously Brian and I love sports, so we might lean towards that more often than not. But we can try and find some fun ways to, to do it more often, often if people enjoyed it. We really, really appreciate everybody tuning in on the live. Thank you so much. I hope you guys have a great weekend. But that's all for now. Bye bye, everybody.
- [75:02]
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- [76:05]
Brian
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Thibaut
What is this your first date?
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Brian
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Thibaut
Yeah, the bird looks out of your league anyways.
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Brian
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