← CRYPTO 101
CRYPTO 101
Crypto Rundown: XRP All Time Highs, M2 Money Supply for BTC is Working, & ETH to $15,000?!
00:45:52
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- [00:00]
TiVo
Foreign.
- [00:10]
Brendan
Welcome back to the Crypto rundown where we talk about everything that's going on in the great world of blockchain technology and cryptocurrency, 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 of course we bring it to you completely for free every single week. In fact, you all have been enjoying this so much, we've decided why do this one a week or once a week when we could do it twice a week. So a little bit of an update for everyone before we begin and get started here is we're going to have a little bit of a shift in the schedule. Now normally we do this every Single Wednesday around 10am and we're going to be changing that because we're going to be doing this now every Monday and Thursday. So you get two of these crypto rundowns every week completely for free. And those are gonna be again roughly around 10am every Monday and Thursday. So we, we've seen what all of you have asked for. We know the episodes had been running long and we decided, hey, let's break them up. Let's touch on this news in a much more time sensitive way. And that's gonna be the update moving forward. Now on top of this, you might have seen some of our other analysts, Brian and Joe, also partnering with TiVo and getting different kind of market updates out. You're going to be seeing more of them as well. So overall the content here is just going to be increasing, which means that there's no drawbacks to there being more content. So man, we have an awesome episode in store for all of you. Just a little bit of a high level rundown before we get TiVo on. Bitcoin is hitting new all time highs. XRP is at new all time highs. Ethereum and Solana are just soaring to new major highs. Tom Lee saying he could see Ethereum hit $15,000 in the foreseeable future. He backs this up with some solid data. There's Ethereum treasuries coming out of the woodworks, just new ones that we're going to talk about. A lot of other positive Ethereum news and legislation. Pro crypto regulation is continuing to be passed with the Genius act. And on top of this, the M2 money supply is just soaring and with this crypto's following it and we finally feel a bit vindicated. And finally here what we've seen is a huge revelation come out in regards to the Strategic bitcoin reserve. It was once said that the US had around 400,000 bitcoin, then 200,000. And now there's a surprise, I guess, piece of information that's saying maybe we only have 30,000. So we have a lot of stuff to talk about here, a lot of stuff to break down. Obviously, the crypto market is just exploding to the Upside and TiVo. I mean, we were talking about this all last week over the weekend. We were texting back and forth and we just couldn't believe our eyes. I mean, yeah, we've been talking about this, this, but what a freaking move.
- [02:55]
TiVo
Yeah, an unbelievable, really run since the bottom of Liberation Day for all markets, to be frank. And I know we've kind of touched on that over the last couple months, but nothing's been more exciting and more higher volatility to the upside than the crypto markets. And there's just so much that we've covered and I've preached this. I've preached this literally all the time when we're in the down and the boring phases and the choppy markets. And again, we've talked about it, we don't hide anything. Our numbers go up when the price action goes up. People excited, they're searching for it. They want to know what's going on. So now that we have everybody here, because our numbers are ripping once again as excitement goes up, guys, stick with us, stick with us because it's never a straight line up. There's always going to be volatility in the markets. And I think, Brendan, I don't want to speak for you, but I think we have a very bullish view of the rest of the year going into 2026. But I don't think it's going to be a straight line up. There's always these events and, you know, whether it's the Fed or some, you know, some inflation data, there's going to be something that we can't see over the next months that's going to give us a little bit of volatility. Hopefully that volatility will be opportunity. But I think if you're here now and you kind of looked back maybe to the like, if you're a listener that came in in November, December and January and then you kind of got bored and faded out in April, March and May and now you're back, maybe, maybe stick with us this time because, I mean, the absolute rippers that we've had on these episodes, both interviews, but we've talked about this. Both interviews. Again, the Maples of the world and the people that we bring on. And then Pengu, I mean, me and you talked about Pengu for months. For months, Brendan, for months. For literally for like probably eight weeks, nine weeks, possibly in a row. And, you know, I mean, penguins up 300%. So you're in the right place. We love you all. We're doing more, which is what everybody's been asking for. You teed that up great. We're going to be, we do have some summer vacation coming up, so we're kind of going to be jumping around a little bit, I think over the next three weeks. But we're going to be putting out as much content as we can after a week off for our big company get together last week and then, yeah, into the fall. The momentum is going to be high on this channel and on this podcast. So you're in the right place. All right, Crypt Nation fam. Let's pause for one second and talk about an important issue going on right now, and that's sim swap attacks. SIM swap attacks are becoming a serious threat, especially in crypto. If someone gets control of your phone number, they can access your bank accounts, your exchanges, emails and even your private messages. That's why the Crypto 101 podcast has partnered with Afani. 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- [08:07]
Commercial
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- [09:05]
Brendan
I mean, spot on, man. I mean, where do we even begin with this? I mean, I think we have to talk about prices first. I'll put up a little bit of a screen just so everyone can see what we're talking about here. If we look at the charts again, just very briefly and what's been going on here. I mean, let's look at this. Bitcoin hitting a new all time high of 123,000 last week while we were gone. Even now sitting right around 118, 119,000. Ethereum just continuing to outperform Bitcoin. This thing's exploding to the upside. I mean, look at how many green candles has this been in a row. TiVo. I mean we've had one green candle since July or we've had one red day since July 8th and that red day was half a percent red. I mean, if you look at this, it's already up 52% in the last two weeks with one red day closing. Solana, similar story here. I mean this thing's pushing back up to 200 bucks. XRP is at all time highs right now around $3.65. Been back on the rise. Aerodrome has been back on the rise here in recent months. And no matter where you look, you know, you could say the same thing about AAVE and Fart Coin pushing towards the highs. Or like you said a little bit earlier, we could look at Pengu, which I just had up here, a Pengu. I mean just non stop at all time highs as we're talking over here. This thing's crushing it. It's ripping and it's just performing and altcoins everywhere. I mean, hype. Another one. Just all at the highs and everything. Whether you know you like it, you don't like it, like everything in crypto is doing really, really well at the moment and so tons of attention towards the crypto market. We're seeing a lot of things happen here and you know, we don't want to spend too much time on the charts today because we have some other stuff in store this week. But like, look at the bitcoin dominance chart. TiVo. I mean, just briefly, we'll just take a look. It's in free fall and we have talked about this so much. We're going to go into much more depth on bitcoin dominance a little bit later on in the week with some of our other things. So stay tuned for that. Make sure you are. Stay Tuned and you're, you're signed up and all that good stuff. But I mean the crypto market here is just in full on bull season, altcoin season, whatever you want to call it, it's here and we've been trying to talk about this. We talked about a lot of the catalysts that were going to cause this and for a moment people were probably looking at this and being like, you know, hey, all this good stuff's happening but it's not moving price and this and that. We were saying, well yeah, it takes a little bit of time for people to actually respond and react to all these things that are happening. And now we're starting to see things shift in the high gear.
- [11:53]
TiVo
So if I could, if I could actually divert us a little bit, a little, little something here. I mean this just really sums up where we are right now in the markets. Just absolutely pure bullishness from, from Brendan. And I think, I think we need, we didn't really have this on the sheet, but I'm going to pull something up here. We need to have a minute. We need to have a minute and we need to celebrate with our, with our friends, friends of the program obviously of the XRP army. XRP surpasses a 215 billion dollar market cap today. And as you kind of touched on at all time highs. I know both, you know, hand up me and you, not the biggest XRP fans per se, but we, we root for everybody in the markets and we root for everybody in crypto because, because I think you know as tides lifting all boats and, and XRP is, is something that for some reason gets, gets retail. You know, the, I don't know if retail investor is the right word. The newer, like your friends come up to you who aren't in crypto. This is for me specifically people who've never talked crypto with me, darn interested in crypto. And then all of a sudden the price action starts happening and they want to talk about it. The first thing they talk about is xrp. And so I always am interested how that happens. But I think we just, we just got to give a moment for XRP and say congratulations and we're rooting for you. But I didn't know if you had any thoughts on xrp.
- [13:16]
Brendan
Yeah, I mean listen, here's the deal. You know, we, we cover everything. The good, the bad, the ugly. People get mad because I, I've had a history of saying the quiet part out loud when it comes to XRP and people get upset with me. Here's the deal. I'm a trader, right? Whatever I think about it fundamentally I trade the chart, I trade what's hot. I'm here to make money. I'm not here to like marry the XRP relationship. So when it comes to xrp, guess what, I own it. Right? But I'm still going to talk about both sides of the story, the good and the bad. And so it's funny because I've owned and I've traded this thing since 2017 on and off. You know, whenever I do say something bad about it occasionally or I call it out for some shenanigans, you know, people come for my throat. But again, like even at this moment in time, I have exposure to it because I think that there is an opportunity there. Now, regardless of the fundamentals, which I think are again on the rougher side, the technicals and some of the fundamental catalysts outside of like the core, you know, token or the core project itself, the catalysts that are backing this, some of the news that is coming and will continue to come is fantastic. You can't overlook it, you can't overlook what, what they've been accomplishing and what they will probably continue to accomplish. And on top of that like the price action speaks for itself. So regardless of whether you like their tokenomic structure or you like, you know, their, their history and how the execs have interacted with the coin, like regardless of all that stuff, you can look at the chart, you can look at some of the ETF catalysts, you can look at its like volume and how it's been trading here and it's been one of the better coins which is why I've had exposure to it. So you're right. I mean TiVo, we got to give it its credit, we got to give it some kudos here.
- [15:04]
TiVo
There's one guy, I can't remember, I can't remember his name. I will find it. Hopefully he comes in the live sometime. There's one guy that like just absolutely barks at you for, for xrp. It's so funny.
- [15:15]
Brendan
I know, but we love it and.
- [15:17]
TiVo
And like you said, you're a trader. I know. I was in XRP the last kind of run up it had, I kind of got a, got a nice little rip on it and yeah, I sold out. I'm not necessarily a holder but I think that, I think there's, if there's one person who is also a world renowned trader of XRP is my old boss Dave Portnoy who you know, credit to him is just Somebody who dives into things. He's obviously one of the, the godfathers of the Internet content game. And, and he's, he, he, he kind of saw the XRP army and wanted to be a part of it and bought in. And then I guess, I guess he sold it without necessarily saying on, on his program. And then he, he kind of put out a PSA over the weekend that he was devastated he sold out. So let's see what Dave, Dave was saying about XRP this week. Unreal. Unreal honesty. And that's what Dave's known for, right? He tells it like it is. And man, I feel like Dave is, he's had, he's obviously had some winners. I mean, I think the guy had one of the hottest like gambling years last year in public history. He was riding like Scottie Scheffler on golf Wins and he won like millions and millions of dollars. But he always seems to be on the wrong side of the crypto trade, which is great for content numbers obviously and obviously was proud to work for Dave. A huge fan of Dave, but maybe we could help him with some crypto tips. But you don't, yeah, you don't want to be the, the guy that gives them, gives them the wrong tips. But shout out to the XRP army. I think they, they deserve their moment on the program today, to be quite honest. And it's a killer program. The viewers are here, the commenters are here. Let's give everybody a shout out real quick because this is want to do. We want to build our community and we appreciate everybody coming back. We got Trinity, we've got Namrata who's excited about an Ethereum update. Namrata that's coming next. Ryan Boylan, Classic dnt NFT here as well. Everybody seems to be excited for today's show and for the three times a week I'm seeing, seeing some clamoring for that. But the Ethereum update is what somebody asked for and lucky enough, that is on the rundown as our, as our next topic. So Brendan, I'll hand it off to you to tee us up.
- [17:27]
Brendan
Yeah, it's, it's one of the big talking points of, if not the major talking point of today's episode. And you know, like we said with xrp, we tell you how it is, we tell you how, how we feel good and bad. If you remember the first part of this year, I didn't have a ton of good things to say about Ethereum necessarily, but you know, that shifted a couple of months ago and so, you know, matter which way you look at this? You know, again, we like to just be honest and we've shifted towards being bearish on it, to being bullish on it around the right time. And also TiVo a little bit of credit to you. You know, you got on one of the lead developers from Ethereum, like right towards the bottom. And that was one of the tipping points for me. I talked to him, he helped me understand why they were making the decisions that they were making. And that podcast was the thing that really turned me over the edge. And because I was dabbling on it, like, do I want to flip Bullish yet? And that was the point where I was like, all right, it's time. And it was like right towards the bottom. So kudos to you for, for getting them on here. Fantastic interview if you haven't seen it. And yeah, I mean, if we just look at.
- [18:35]
TiVo
Let me, let me just try. Well, number one, I appreciate the, the kudos there. That's how I try and structure the shows is obviously we want big guests. The bigger the name, the better, obviously. But like, you know, we meet and we talk, like, hey, are you guys interested in this? Here's the, you know, the inflows we have. Let's choose them. And I just, I, the group chat hand up Ethereum was falling like a rock. And, and I'm a long term Ethereum holder and bull and, and the pro. I love the project and, and the, and the mission. And I just, I, I put in the group chat, the team group chat. I don't even remember this, but I, I just, I put it out there. I wasn't selling yet, but it was like Ethereum was dropping, you know, breaks 2K, 19, 18, 17, 16. And I'm just putting the chat to go, hey, is Ethereum dead? Like, what, you know, you guys are my shepherds. Bryce, you know, Brendan, you know, Brian, Joe Rohi, our whole team. You guys shepherd me and help me guide and learn and educate to make my decisions. And I just, I needed a second opinion. I was like, guys, is Ethereum dead? Like, am I the only one holding these bags is this thing's falling like a rock. And every single one of our analyst team said, no, no going down with the ship. I don't believe in this move. Buying the dip, the whole nine yards. And I was like, okay, okay, I'm still a believer then. And then I know me and you kind of talked offline about how we play that, whether it's futures or options. And we started buying that dip and it has been Absolutely fruitful. Thanksgiving's not for a while, but if I might say, a cornucopia of profits were had if you were buying that dip. And, you know, it's thank that. I think that's the important part of, you know, watching this show, subscribing if you haven't putting on the notification bells because there's a community sense. So if you want to be the community here on YouTube or, you know, scroll down, check the links below. Brendan has trading courses. We have Crypt Nation, which I know a lot of people in the chat are a part of. Crypt Nation, like all about having that community. So you're not out on an island trying to trade. You're not trying to make these decisions by yourself. And again, it's not personal financial advice of anything that we do, but it's all about community and sharing our own thoughts and ideas and educating each other and that, that's the awesome part of what we do here and why we're passionate about it and love it so much. Without my team, without my Cryp Nation team, I might have let go of the Ethereum bags and that would have been an awful decision.
- [20:49]
Brendan
No paper hands over here. I see people talking about it in the chat box. Let, you know, let's, let's talk about Ethereum, right? That's the talk of the town right now that we showed the chart. It is just sky high. Ethereum at 3, 800. What is happening with Ethereum? Well, there's a couple of things to understand here. Number one, the Genius act was just passed. It's official. It's in law. We're going to show a video of that in just a little bit here. But I mean, if you look at what's been happening, not only is the Genius act being passed, Ethereum's getting mass adoption. We're talking about tokenizing the whole stock market and the treasury market and all these different things on Ethereum. And that's been popularized by not only Robinhood, but other players. Then you look at these eth treasuries that are coming out of the woodworks. You have bit mine, you have Sharplink, you have a new one that's called the Ether Machine and it's partnered with, I think it's called Dynamics. And they just continue to come out and accumulate and accumulate Ethereum. A couple of other things, you know, Sbet just raised another $5 billion to buy Ethereum. Tom Lee's Bit Mine is now the number one corporate holder of Ethereum. They said that they want to accumulate around 5% of Ethereum supply. Acroc just filed for staking and it's Ethereum ETF. And the Ethereum ETFs are hitting new all time highs right now in terms of inflows. So like you look at Ethereum across the board and it's win after win after win and they're firing on a lot of the primary metrics that you would measure success from now on top of this, you know, going back to what Tom Lee, big, big friend of the POD over here, we always like to reference him. I think he's a fantastic investor. He's a guy that I look up to, obviously extremely wealthy and successful in the TRADFI markets, been very, you know, pro crypto. But he's been talking about how he thinks Ethereum is still way undervalued relative to where it could be. And he is Saying, Hey, a $10,000 Ethereum is something that is a very real possibility given a lot of these adoption metrics that we just talked about. Given a lot of what's going on, especially in regards to stablecoins and tokenization. And if that continues to head in the direction that it is heading, he's like 10 to $15,000 seems reasonable. If you're going to have a multi trillion dollar stablecoin industry, it's hard to have the underlying thing that empowers all that and makes all that successful to not be worth a couple trillion dollars. Right. There's a reason why Nvidia is worth, you know, is the most valuable company in the world at 4 trillion, over $4 trillion. Why? It's because it empowers the AI industry, it empowers the gaming industry, it empowers computing and all these other areas that we view as successful. But it is like one of the primary pieces of technology that empowers and makes it all possible in the first place. In the same way that Ethereum is empowering and making tokenization and stablecoins and all these other things possible in the way that we know them right now. So anyway, I'll stop yapping. Ethereum is one of the primary pieces of infrastructure here. But Tom Lee goes on and explains it for himself.
- [24:01]
TiVo
Yeah, and before we play this, I know we reference Tom and a lot of similar people a lot, and obviously those are our opinions. But you got to recognize and show some love for Tom Lee's office where he has a little legit bed in the back. I mean, if that doesn't show you that this guy's putting in the hours, I don't know what Will. So let's. Let's hear what Tom has to say. Straight from the horse's mouth.
- [24:21]
Brendan
Yeah. And I like how he explained how you have to give these more software styled plays, as he labeled it, a higher multiple because they are not directly interacting and dealing with customers and all this stuff. They're just providing like the software or the base value. And that's a fantastic point. And so when you begin to understand that and that if we are going to see, which we. By the way, this isn't even ru. This is like, it's already happening that these banks and these companies, they've already applied for stablecoins. I think we've talked about Amazon and I think Uber was another, and we've talked about like bank of America and Deutsche bank and all these other players like J.P. morgan, and the list goes on. Like, there's a bunch of different groups that have already applied for stablecoins and they're saying like, please, like the genius act is going to be getting a pack passed. We want to get ahead of the ball here. And they've already begun filing for their own Stable Coins. And again, they're like almost all of them, if not all of them that I've seen so far. Like, all the infrastructure is all on Ethereum. So I'm sure some will use usdc, some will use Tether, some will use some of the existing Stable coins. And it might even be a scenario where they do a little bit of their own and a little bit of these other ones that are already around. But we're seeing like massive adoption. And if Ethereum is the infrastructure for that, you have a hard time believing that, you know, it can't get to some of these, some of these higher multiples. And I think previous to this, right, it would have been hard to say, you know, hey, are we going to be able to hit a $15,000 Ethereum in the foreseeable future? Right. We're not talking this week, this month, but, you know, maybe in the next year or two or something like that. And I think previously you would have had a little bit of a harder time making that argument. Now when you're looking at corporate adoption of it again between both, like, financial institutions, asset managers, banks, and Even traditional Fortune 500 companies, I think now it's a lot easier to look at that and say, oh, well, if they're providing the infrastructure to Amazon, to Uber, to, you know, Deutsche bank, to Citi, to like, whatever it may be, then it's like, okay, well, that makes a whole lot more Sense and that's really what we're looking at with some of these upside ideas and prediction. So I mean, I don't have a lot else to say besides that on the Ethereum side. I mean it's kind of speaking for itself. The last thing I will say is with a lot of this, you know, clearly I'm always pretty optimistic and bullish, right. Maybe I'm biased because I've been working in the crypto space for almost a decade. Right. But the one thing I'll say here is we're going to have ups and downs right now. We're clearly just parabolically, asymmetrically moving to the upside. That will not always be the case. Right. I always like to come level headed. We're not going to continue this momentum forever. We talked about one red day on a theory on Ethereum in the last two weeks that is, that is like the unlikely scenario. We're going to have pullbacks, we're going to have down days and crypto is notoriously volatile and it'll probably hurt when it happens. However, I do think that the dips that we have here will be shallower and shorter lived than what we have seen in the last couple of years. And I think that the macro picture, the big picture here has reversed from lower highs and lower lows trending downwards to a higher highs and higher lows trending upwards. And so when we do have these dips, even if they are a little bit scarier, I'm going to be a buyer. I view this as a buy the dip opportunity and that's, that's the direction that I see the general crypto space, especially something like Ethereum, heading into the foreseeable future. So a little bit of a note there.
- [27:56]
TiVo
Yeah. And I think plan your trades and trade your plans. I think, you know, I know we've kind of, again we get more specific of offline sometimes me and you, but you know, you've taught me through your trading course that I've taken is like, you know, set your stop losses. Like don't, don't leave it to your emotions. And so as I've had some kind of plays where I was, you know, maybe quote unquote all in or a little over leveraged. I set some, I set some sell points, not, not the whole bag but like you know, just some take profit, stop losses and some of them have gotten hit over certain projects that I, that I've been on and I'm okay with that because it's taking some off the table and it's and I don't have to think about it. It's not an emotion. It's just a technical, like, okay, I'm gonna let this ride. Like, if this keeps going parabolic to the upside, I'll be in it. But like, here's, here's a little take profit zone that I'm gonna just set, Set it in, truly set it and forget it. And, and I did that for a bunch of stuff. And then, you know, over the last week or so, I think, you know, there's been, you know, some ups, downs, and they were pretty tight because my, my bags were a little inflated. But yeah, some, some got taken off the table for me, but that's fine. And that, that's, that's the way, that's the way it goes. And, and I still have a healthy exposure to the upside. It's just, you know, the emotions of this thing. On both, kind of like my Ethereum story, to the downside and to the upside, your, your emotions can take over and you got to try to control that. And I think that psychological aspect of said it and forget it is. Is a great way to do that.
- [29:21]
Brendan
I mean, spot on, man. We can only talk about Ethereum so much here, but I think a really important topic that I came across this weekend was, well, what's happening with bitcoin here? And there's a little bit of a fudge. And what we've essentially seen, we're going to roll a clip here, but at one point in time, the crypto czar of the United States, David Sachs, came out and said, hey, like, at one point in time, we had 400,000 Bitcoin owned by the US and then earlier this year, it's. He's like, hey, we're still trying to get a headcount on this all, but it looks like we've sold off half of that down to around $200,000 or 200,000 bitcoins, not $200,000. He said, we went from 400,000 bitcoin to 200,000 bitcoin. And he's like, we sold off half of it. Like, what a blunder that happened prior to the new administration. This is a big deal because when the new administration came in with the crypto or bitcoin treasury, they said the US Is done selling. The days of the government selling off bitcoin onto retail is over, which is a crazy concept. But now more evidence is coming out as they continue to dive into this that not only did the US go from a 400,000 bitcoin reserve at one point to 200,000. Now it's looking like there's only 28, 29,000 bitcoin left, which means that they've sold almost double what was anticipated, bringing the reserve from, what was it again written down before hundred thousand down to around 28 to 29,000, which is a ridiculous, ridiculous sell off. And we'll talk about this a little bit after the clip. I want to actually have David, you know, say his old spiel and run us through it and then I'll, I'll give my opinion on, like, what this means for bitcoin.
- [31:11]
TiVo
Just, just for clarity, that clip was from March 7, earlier in the year. And so now that the audit is happening, I don't think we have the results. There's some leaks that are coming out of saying that maybe we actually have less bitcoin than that $200,000 that he referenced there. But any, like, what have you seen from that? Because obviously, just, I just want to set up the listeners. That's not something that was said this week. That was back on March 7 and the executive order was signed to go do the audit. So now that the audit is happening, there's again, like I said, maybe some leaks that we might have less. So what, what are you seeing, Brennan, from your research? What are you hearing? And then obviously we hope that David Sachs will maybe release a full report at some point at our stockpile.
- [31:52]
Brendan
Yeah, I mean, let's show my tweet that was attached to this because I responded to the new update here with a little bit of my own opinion on the matter. And what I said here and right below this is the report. But in the report it talks about it. Then I retweeted the report saying if in all caps, because like TiVo said, David came out, said, we, we had 400,000. Now it looks like we have 200,000, but we don't know and we're going to do an audit. Now these leaks are coming out from the audit saying, like, we only have 28,988 bitcoin. And so I responded by saying if this is true, then it would explain why bitcoin's price was suppressed for so many years. This would mean that the days of heavy selling are over and that the US Has a massive game of catch up to do in order to get back to what they were expecting to hold of 200,000 bitcoin. The biggest buy orders are ahead of us. So if we look at this and we say, and a lot of people wondered why Isn't crypto skyrocketing sooner? Why didn't it go on these crazy runs? Why did it keep seeing so many of these, these, these really harsh sell offs time and time again? And it felt like we couldn't just break out to the upside. That was a real question on people's mind. And the answer here is because the government allegedly here, you know, assuming that this is all true, we know that they sold off 200,000, but if, if it's true that they sold off almost 400,000, almost double that, then it would explain why the crypto market, why bitcoin specifically was suppressed, why it kept seeing these sell off events, why it kept like not being able to break out. And it's because essentially the government had been selling on the retail. And you look at that and you got to think about that. We try to stay out of government's perspective on crypto and it like to be political, but like if the government was mass selling an asset onto retail traders, onto retail investors like crazy, it is crazy that they were selling billions and billions of dollars worth of, onto the average Joe like, like you, I, the listeners. And so when we wonder why bitcoin wasn't able to do all these things is because the government had this, one of the biggest stockpiles out of every holder in Bitcoin's history. And they were just flushing it out onto the order books and OTC desk, into all this stuff. And it's, it's a wild thing. So I know I'm fired up and it gets me riled up about it. But like, if that's true, then again, it's a really crazy thing to think about in the past. The caveat here is that it's a really good thing going forward because the US says that it wants to be the crypto capital of the world. They say we're going to be the crypto capital of the world. Well, it's hard to do that with a supply of 28,000 Bitcoin. Right. If they were expecting to have 200,000 and they were complaining about that, saying, oh, we sold off half of it, there's proposals out there that says the US Needs to have a million bitcoin. Well, the reality here is that if we are going to be the crypto capital of the world and we want to catch back up to 200,000, 400,000, a million Bitcoin, then what does the US have to do now? Well, now they have to go buy. They're going to be buying at a much more Expensive price. But they need to go and acquire bitcoin, which would do the opposite. Right? Because now what we've talked about, TiVo, is that the bitcoin supply on exchanges are low. The bitcoin supply on OTC deaths are low. And if the US Is going to go and acquire new bitcoin here, then they would have to be doing some aggressive buying to get back to where they were at. And that would absolutely just send price. So we'll see once the full report is out, once we have the full picture, we'll probably get a better understanding of what's going to happen there. But if the US wants to truly go and catch up and be the crypto capital of the world, they'd have to go get their hands on a lot more bitcoin. And you can imagine what that would do.
- [35:52]
TiVo
The. To build on that point. And this is why I think we're gonna have fun doing more episodes a week because we kind of have great conversation and we can build on it. And so to build on that point again, I don't, let's say not to get political. We say that a lot, but like, just to have a little fun. If everybody wants to take out their tinfoil, if you want to wrap it around your head, make a little tinfoil hat, if you want to go full blown conspiracy theory, not friend of the program. Not friend of the program. Sandbankman Freedom, who got caught with huge, huge fraud, as we all know and have covered in this space, was a huge donor to the Biden presidential run and the Democratic Party. So, you know, he was a top 10 that election cycle. He, I believe he was like five or six of the top 10 donors of the whole cycle up there with, you know, George Soros is of the world and all that. And so kind of building on that point of like, well, okay, the Democrat, you know, there was a lot of politicians that, you know, he was on Capitol Hill fighting for crypto policy, obviously, meanwhile committing all this fraud in the back doors. But he was on, he was in D.C. and there's all those pictures with him. I think it was at Maxine Waters and all those, giving her hugs and all that. And, you know, 46 million donated, all but 240,000 going to Democrats. So then you kind of got to think not even that they would hate crypto or hate bitcoin, but they were so close to this guy. Then he falls down with the fraud of ftx. It could totally make sense of them just being like, all right, we gotta get rid of all this crypto now and just start fire. Selling it and offloading the government wallets during the back end of that administration. Right. Suppressing the price like you said. So I thought that was just kind of building a point, a little TiVo tidbit of a fun little tinfoil hat thought theory there. But you nailed it. It would make sense because I know we've been on the program a lot over, you know, the years being like, you know, man, there's all this bullish stuff and the price isn't moving and the, you know, Even when the ETFs kind of first came online, I know it eventually worked, but just kind of all that bullishness leading up to it, it seemed like there were times where the price should be moving higher and faster and it wasn't. So, you know, hopefully our cryptos are David Sachs, kind of, which what he wants to do is shine light on it. But yeah, there was again, just to tie a knot on this subject is there's a lot of tweets and FUD and all that stuff. So we're gathering and bringing it to you because, you know, like we said we could, in theory we could come up with a case that it makes sense, but nothing has been proven fact yet. So we're going to keep, keep a close eye on it and then obviously we'll bring it to you, bring it to you again when we have more clarity.
- [38:28]
Brendan
Spot on, man. And you know, one thing that we missed, I totally skipped over it because I was getting into the, getting into it. I mean, in massive news back for Ethereum was the, the genius bill passed. There's a big, a bunch of clips circulating around, of course, of Trump like holding up the bill after he had signed it. But this is a huge deal for the future of crypto and we talked about it and how it relates to Ethereum, but like this is a massive new stage of adoption and fits into this narrative that we just talked about of the US becoming the crypto capital of the world, not just in Bitcoin, but also in Ethereum infrastructure and stable coins and so many other things.
- [39:03]
TiVo
Yeah, absolutely. The. Sorry, I was in the chat comments there. Do you need me to pull up the, pull up the video?
- [39:10]
Brendan
Yeah, let's, let's just roll it. We don't have to watch the whole thing, but just so all the listeners can see that it was happening. But it's a, it's a big deal.
- [39:19]
TiVo
Yeah, I think, I think we might have had a joke here. You know me, I'm all in for A for a presidential joke, guys, a stand up comedian. But yeah, that was, that was exciting last week. I think there was some, some earlier in the week. I know we kind of missed last week. We had a lot of stuff going on with, with the team out in San Diego, but there was, there was a couple votes on it. We missed the first vote and then I think Trump rallied the, the votes needed. I think he was up and kind of making calls and doing deals. Just kind of like he did for that one big beautiful bill. Just kind of figuring out how to get it across the finish line. So again, the stable coin, a lot of bullishness just around the whole space of, and I think we've talked about it before of whether it's, you know, what Robinhood's doing on chain or the rwas of the world. It's like the, you can just kind of see where this is going and it's just unlocking liquidity for the most part in my mind.
- [40:13]
Brendan
Spot on, man. I mean, there's so much going on. I think one of the other things that we had talked about was the M2 money supply. And you were the one who brought up, brought this up to me this morning.
- [40:25]
TiVo
Yeah, you just got to be honest with yourselves as we've, we've talked about it. I don't think I consider me or you like an M2 purist by any means, but it's something that, that we track on the show and I also see the other side of it. So crypto Twitter is kind of split. I think there's people that trade by this metric and you know, we have to talk to them if they quote unquote, go all in on it. But there's a lot of pushback on it. It's like, oh, this doesn't matter. This means nothing. But we kind of covered on that last rip. I'd say what about four? And that's what it is. It's about a 30 day lag. Right. So about four weeks ago, if you go back rundown section and go back about four to six weeks, we had a thumbnail and an episode that was kind of not dedicated, but the thumbnail is dedicated to M2 money supply. And you know, lo and behold, that 30 day lag. And you know, we're not only breaking through 100, 110k, we're making new all time highs. So M2 money supply bulls are vindicated so far. But the chart as you can see here says we have more room to go. So a continuing story, if you will.
- [41:32]
Brendan
And it's like, yeah, if we have so much more to go, you know, then we start looking at 170, like 150, 170, maybe 200. Man, I hope we continue to climb because again, I'm going to be a little bit biased here. I had my end of year prediction at I think like 170, 180 ish. Oh, I hope we continue to climb because over here inside the team, me, Bryce, Rohit, TiVo, we kick off the year with like a friendly get together of just like year in review what we're expecting in the year to come. We all give our bitcoin predictions and you know, I'm selfishly or I think ending around 180. So a little bit biased here, but I hope we make our way up there and it's possible, you know, we have another, what, you know, we have another five months here.
- [42:21]
TiVo
Yeah.
- [42:22]
Brendan
So.
- [42:22]
TiVo
Yeah. Excited. That'll be a fun, a fun year end episode if we keep the momentum going as, as we, we have kind of this first half of the year and yeah, I think, I don't know, I kind of like part of me wants to go back and get the exact numbers and part of me likes to wait until like the week of.
- [42:38]
Brendan
I think we have to wait.
- [42:39]
TiVo
Okay. Yeah, yeah, I think, yeah, I think I'm at 169. So that would be exactly this M2 chart. If, if it followed exactly to a T, I would be right up there as well. But I, I think, yeah, if the listeners want to go back, it's the year end episode. It would have been published around like January 1st, that Christmas New Year's break and Bryce had a hell of a target. So that's a little, that's a little sample. If you want to go back and check for yourselves. Go back to that year end episode and you, you want to hear Brendan my's prediction, but you also, you definitely want to hear Bryce. Bryce was the bull.
- [43:13]
Brendan
So I hope he's right.
- [43:14]
TiVo
I hope he's right. I hope Bryce is right as well. I hope I'm wrong.
- [43:17]
Brendan
He's right.
- [43:18]
TiVo
But this all transitions into our last topic of basically kind of teeing it up. It's like kind of that, I don't know, I don't want to say that, I don't want to say the E word euphoria. But like there's, there's a parabolic move right now going on across the crypto market in all phases and it's changing the language of how people talk about it. And this is something that we've brought up before of kind of that. How does bitcoin get talked about in the business news flow cycle? Obviously when it's going crazy, either up or down, it hits what we call the A block. And so I've covered this before, but like the A block is the top news story of the day. Then you have the B block, which is the secondary story. And then you have kind of your backfill cd, whatever you want to call it, the quick hitters for the last part of the shows. And you know, when bitcoin's flying high and going parabolic, it leads the A block when, you know, it's kind of interesting, which, like, I feel like it's right now is more of like a B block spot. And it's been talked about kind of all year at this point because it's both in the news, price wise and politically. But there's always been, if, you know, I flip around all the channels and there's always been people, Tom Lee, perfect example. You know, Tom Lee's been banging the table for 1% exposure since $5,000 bitcoin. People called him crazy. And then slowly you start to see people talk about bitcoin in a positive way or saying, yeah, I have exposure to bitcoin. And now it's getting to the point where people are excited to talk about bitcoin. They're even giving price targets. And so I pulled a clip here from I'll share this tab cnbc. This is Steve, Steve Grasso, somebody that I, that I enjoy kind of his takes. He's, I think he's on the show Fast Money in the afternoon. Somebody that's talked positively about bitcoin in the past, but I've never heard his price target, as you can see here from, from the, the X post, it is quite a high target. So let's listen to Steve. And the reason I'm sharing this and doing this because like, he's a new voice. He's not somebody that you've seen all over your crypto X timeline being like, oh, there's Steve again, just talking about his wild bitcoin prediction. This is newer. There's more people like this coming. I don't want to call them out of the woodwork per se, but they're starting to make noise about it and that that's kind of momentum. That's that snowball that's just rolling and getting bigger and bigger and bigger. So let's see what Steve has to say and then we'll just flip on one of our favorites to do time to time is this market cap buy assets list. As, as Steve said, they're kind of comparing it to gold. That's one thing. Again, kind of the price targets and talking about it are one thing. But I think that was something that, that comparison to gold. Right. I'm starting to hear that more and more, you know, because the bitcoins, digital gold was always kind of, it's like, oh, it's digital gold. It's digital gold. But now that's kind of taken. That evolution of the next point of the conversation is like comparing the market caps and being like, okay, is bitcoin a stock? Well, no, it doesn't have a CEO, Right. It doesn't have a balance sheet, it doesn't have profits or losses. And it obviously got ruled as a commodity by the sec. So it's not a stock, it's not a business. And so you can kind of see here in the top businesses of the world where it compares market cap wise and you're like, well, if it's not a business, then is it truly digital gold? Is it going to be compared to digital gold? And you can kind of see that market cap differential and is there catch up to be made? And that, that's kind of a take that, that seems to be getting more and more steam.
- [46:42]
Brendan
Yeah, it, if it's going to be classified as a commodity instead of a security, I think that, well, that's like the natural way that it should gravitate, right? Is that it should gravitate. It should probably close that bank or it should probably close that gap and then be adopted more like he said, from institutions, banks, governments, you know, you name it even more in retail trader portfolios. And I think that it'll continue to acquire more market share and maybe it does steal a little bit of gold's market share. I think that's fine. If it closes the gap like he said, he's not saying it'll go and accumulate to 100% of what gold's market cap right now is, but even if it goes 50% of the way there, it's still a substantial, substantial case for the upside on bitcoins. Yeah, I mean, listen, TiVo, no matter what way you look at this, it's bullish, right? We were coming in here today saying, hey, we're going to split these up, we're going to do two a week now so that they're not an hour long.
- [47:42]
TiVo
Unreal.
- [47:43]
Brendan
Whoops, there's too much to talk about. And obviously we love doing It. So we hope that you all enjoy it as well. Did I miss anything? TiVo, is there any other?
- [47:53]
TiVo
No, I mean just shout out, shout out to the chat. I mean we got Rob's a new face here but you know, Ryan Dnt nft, Tyler Fitzpatrick, Kevin Stanley in the chat as well. Just an active Monday for the team. Active Monday for the team. And we're going to be back multiple times this week. We are going to try and get our schedule. I put out a kind of a poll on our YouTube kind of posting page to see if you guys had any opinions. But we have a schedule. Brent and I are going to talk. We're thinking about, you know, doing consistently Monday and Thursday at 10am Eastern. I know it's a little early for the west coast and then we're going to try and do some special ones. I talked with the team this week, Bryce and you know, trying to get maybe, you know, I don't want to put a number on it but try to get that. We did like an all time high celebration not too long ago. The last time bitcoin hit all time high and got, you know, Rohit on and Bryce and the whole team. We should try and do that more. So just this channel is going to be a lot more active. So if you're listening on audio, please join us on YouTube as well. And if you're live right now watching us, please like subscribe. Turn on that notification bell because we're going to be having a lot, a lot of fun stuff going on in this channel for the last, last, you know, five, six months of the year here.
- [49:04]
Brendan
No, you said it well, man. We appreciate everyone for coming in here. Like Diva said, we're going to have a lot more content coming out in the future. We're going to have new videos, new tutorials, new podcasts, new rundowns, more market updates, you name it. Here things are shifting in the high gear. We're going into overtime and it's also that we can provide not only more quality, more quantity, but also better quality for all of you so that you can get this in a very time time sensitive manner as the updates are becoming increasingly more time sensitive as the market heats up. So thank you all for tuning in and we'll see all of you at the same time, same place next week.
- [49:51]
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- [51:48]
Allie Jackson
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