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Is bitcoin bull Michael Saylor going to dump 30 million in Bitcoin today? Strategy sent 411 Bitcoin over to Coinbase Prime. It does not mean they're going to sell, but considering he said that it was going to become part of their strategy and that he was going to inoculate the market by selling some bitcoin, this could be the day that the never sell mantra finally dies. We've got that and a lot more today as I rant solo here on a Friday. Let's go. Let's do, Let's do. Good morning, everybody. Welcome to the Wolf of all streets here every day at 9:00am Eastern Standard Time for your viewing and listening pleasure. Basically an orgasm for your eyes and your ears. Now, before we get started, I would like for you to like and subscribe to the channel. You might not know this, but I just did a deep competitor dive on YouTube. And while other channels die, we are marginally growing and it's something to be really proud of. We have new subscribers, Other people are losing them. Our views are up like 6. Other people are down like 6000. Feels good to be the best. That's all I'm saying. But you know what is not the best? And I'm going to be honest, I'm having a really bad day. And the reason is because we only had two Lacroix left in the fridge. And you may remember from Lacroix comments of the past that Limoncello is the absolute worst flavor that's ever existed. I'm sorry, Lacroix. I don't want to lose my sponsorship, but I have to be. I've grown a reputation of being honest with my audience and this tastes like Lemon Pledge. In fact, I would argue that it would be more pleasurable to go into the bathroom of this office building and lick the floor right after they've cleaned it than to drink this absolutely disgusting concoction made by some Frankenstein monster. But you know what? It's become my gimmick and I'm going to just drink it. The other problem here at my lakeside villa in Japan is that I forgot to wear my contact lenses today, so I can't see anything, to be honest, and reading the stories is very difficult. But we're going to dive into it right now because, I mean, it's like, well, how many minutes? We're three minutes in and I've told you, nothing of any value. How we do it. All right, first story, strategy moves 411.5 Bitcoin to Coinbase prime on chain data From Arkham show strategy transferred 411.5 Bitcoin, worth approximately $30.3 million to a Coinbase prime wallet. Following the transfer, prediction markets increase the odds that Strategy sells a portion of its Bitcoin by today to 22%. While transfers Coinbase prime often spark speculation, they do not necessarily indicate an imminent sale. Yeah, we have no idea they can move Bitcoin around for any reason. But listen, the guy literally told you he was going to do it. He has, I don't know, you know, like almost a million Bitcoin at this point. Eight hundred and something thousand more than I have. Right. And he told you he's going to try selling some to inoculate the market. We've had Fong Li, the head of strategy, CEO of strategy, tell us the exact same thing, saying it's definitely one of the tools in their toolbook. And 411 Bitcoin is absolutely nothing. Right? So if what they're going to do here is sell a little bit of bitcoin to make sure that the market sees that they'd be willing to do it to protect STRC and the dividends, I think that this is generally a good move. I actually wrote a long newsletter today on why we vilify everyone who changes their opinion in crypto. Because I've seen people just absolutely trying to annihilate Sailor of late. Vitalik Uterine is getting annihilated of late, Jack Dorsey, everybody. Right? And why we say that we want people who are intellectually honest and then all of a sudden when they have, you know, strong opinion, opinions loosely held, and they change their view based on new information, why we continue to vilify them. What that says about us versus them. Well, Michael Saylor is doing exactly what Michael Saylor has to do if he wants to continue to have the bit back running. Right? And I don't fault him for this at all. As I've said before and in deep conversations with him and with others, STRC is a security. And we can hate or love the SEC as much as we want, but the SEC takes investor protections very seriously. That is their actual job. And STRC cannot be promised to retirees with 11.5% yield and say it's backed by Bitcoin and at the same time have the person running that company say, we would never sell that bitcoin, because that is a absolute no, no. So they need to show the market they'd be willing to sell it to protect this dividend. And today that's especially poignant and important. Because sdr. See, I did the wrong screen suck. Muscle memory. Can't see S Strategies. STRC slips below $99 as Strive captures investor attention. STRC struggled to maintain $100 target price, while strategies reduce cash reserves and dividend obligations are drawing increased investor attention. So actually, you know, after ex dividend day, when the dividends are accounted for and paid, we always see STRC dump from above $100 to down around 99. We've seen it go lower, obviously, and it went to a 9711 today before bouncing up into the mid 98 where it is right now. This isn't particularly abnormal for being honest. Oh, look, my screen's all messed up. Wait. Oh, I felt good. Looks good, too. Looks great. Felt really good. You guys are laughing. It's making me laugh. Not you guys, these guys. Now they're dropping things. Okay, so I was talking about sdrc. Right. Okay, so sdrc, yeah. Obviously we've seen this behavior before. It drops down and then, you know, slowly floats back up to par until it is on par and trading at 100. Well, listen, so like I said, this isn't abnormal that we're seeing this, but they're saying that it's because Strive is offering 12.5%. They're doing daily dividends. And maybe they've created a superior product by watching Sailor. I think also because they paid down that massive convertible note of late that's making people scratch their heads because that wasn't due till 2029 and had a 0% coupon. So, like, why pay off something with 0% debt and reduce your reserves from 2.2 billion down to, you know, 8 or 900 million? Whatever it is, I don't have the exact number. Meaning that they only have six months of Runway. Instead of know, 18 months of Runway for paying STRC dividends, I'm going to assume that they're not just making these decisions willy nilly and it's going to be all fine. But this is what the market is watching right now. And I think. I think there's a very good chance they might sell some bitcoin. It's possible. And I. And I think it's fine. Sometimes you gotta do what you gotta do, like drink this garbage. Terrible. It's really bad. Lemon Pledge. Honestly, I've never drank Pledge, so I don't know it. I should say, if we're going to be accurate. Tastes how Pledge smells. That's what we got. In the meantime, Michael Saylor is not the only person who hates US. Bitcoin ETF outflows reach record 9 day streak as investors full 2.8 billion. The longest run of withdrawals since US spot Bitcoin ETFs listed in January 2024 comes as Bitcoin underperforms high flying AI and semiconductor stock. So I'm going to be the first to go out in limb and say fuck AI stocks and your semiconductors because you're making our lives hard and miserable. And that's bad. But yeah, I mean this is, it's ugly out there, right? And I'm going to be honest, like bitcoin just sitting here at. I would read the price, but my eyes don't. $73,099, if we're seeing the most historic run of outflows, is kind of a Nothing Burger. I mean, 73, 74, 75, 76. It's just the middle of this range that we've been trading at since bitcoin bottomed in 60. If that's what our historic streaks look at. Test me, bro. Bring me more. I think that that's not even a big deal. We saw the second largest daily outflow from Ibit ever, yesterday or two days ago, over 500 million. But listen, like, I'm getting the text. You guys are getting them too. I could pull up an exact text. My friend who used to work somewhere that rhymes with Citadel is now at a different firm. But let's just say that he's a got more money than me. Holy shit. SPX outperforming Bitcoin in the last year by 60%. Three exclamation points. Wow. Yeah, I mean, listen, there's a lot of people out there who are not like deep. So first of all, if you're a deep, deep, deep believer in bitcoin, like global reserve currency, opt out of the system, interest rate, you know, interest inflation hedge, you're probably not like owning IBIT in size instead of spot Bitcoin. So you gotta imagine the people who are owning ibit, who are reading the Bloomberg headlines and who are working at these Wall street funds have that right? Exactly this. It's like everything else is going up and your thing's going down. I showed that tweet yesterday. It was really funny. It was like Trump tweets about like semiconductors and yay, Micron's up 20%. It's like Trump says that, you know, the United States is the crypto capital of the world. We need to protect it at all costs. Like Bitcoin down 4%. Right. I don't know why we can't Even get the Trump bump. I bet Trump does bumps, but I don't know why we don't get the Trump bump when every other market does. But right now it's very clear that people are pretty aggressively running for the exits. Oh, there's an article on Bloomberg that I did. I can't read. I told you right here. Bitcoin dips below 73,000 despite Trump's crypto capital push. I mean, this dude, I don't know if he's trying to talk the market up and it's failing, but Trump has been on like a heater, sending out truths about the crypto market, right? Saying we'll be the crypto capital world. He did his like fire Gary Gensler thing. I'm not sure he knows that we fired him. Already seems confused. Have you seen like the memes, the things going around where like there's some doctor who went on cnn, it's like Trump's dying and dementia because his knuckles are purple. Like, that's what's in the news now. Apparently he has not slept in like 47 days or something, according to this doctor based on his knuckle photos. Like, I know I'm, I'm the news, but like, I don't actually report it. I just tell you things I think about what's in the news. But yeah, I mean, this is the headline, right? Bitcoin dips below 70,000 despite Trump's crypto capital push. And Trump has been pushing as hard as he can and it is not working. But it's working for every other market that we have. Pretty gross out there. Now I have some really good news and it's if I can get the thing, it's this one right here. Bitcoin's famous CME gaps about to disappear. The three remain unresolved. I know you thought the good news was going to be that my tongue is finally numb. Still tastes bad. Bitcoin's famous CME gap bout to disappear. The launch of round the clock bitcoin futures trading eliminates the long standing CME weekend gaps and marks another step toward fully integrated institutional crypto markets. I hate CME gaps. I hate waking up every Monday and my entire Twitter feed is traders who have probably never actually traded but talk about it a lot on Twitter telling you that we need to fill the CME gap. Because if you don't remember, if you don't know what that is, Bitcoin trades 24 7, 365. So when you look at a bitcoin chart, there's no Gaps in it. Right. There's no time when the market was off. So the next candle starts with the last candle ended. Well, if you go, if that's happening on the weekend, but the CME is not open on the weekend, then you know, if price started ended Friday at 74,000, but opens Monday at 70, you have a gap of $4,000 in that chart. And nature abhors a vacuum. When you see gaps in stock charts, they tend to be filled, but you can't compare that to something that's actually trading 24 7, 365 somewhere else. But I'm so glad that I never have to hear about a CME gap again. I don't really care about the fact that the CME is doing the right thing and going to go 24 7, 365. I just care that I'm not going to have to look at these gap stories anymore. This one's cool. Paxos wins SEC approval to clear US stocks on the blockchain. This is our first crypto native clearinghouse that we get. They're going to be plugged right into the Wall street system, dtc, all the things. And they've been fighting for this for a very long time. And Chuck Cascarilla right there, guy's awesome. Paxos new license positions it alongside legacy giants such as dtcc. It makes it a compelling, more efficient alternative for traditional finance giants than legacy competitors. That's coming from crypto media. So obviously we have a pretty favorable slant. But listen, we have no mysteries about the integration of crypto into the financial system. This seems to be the topic of conversation on a lot of my daily wolves, but I went on CoinDesk yesterday and they're asking about this. We have this thing, there's Bitcoin, and Bitcoin's fine. It's like ETFs and institutional adoption and companies and countries and institutions are all buying it, whatever, but crypto itself. I think the most frustrating thing about being in crypto right now is that you have these sort of like, two paths. Like, one, we cheered for mainstream adoption. Blockchain is the best technology. It's amazing. Everyone should use it. Problem is, they started using it, none of our shit went up in value, right? So we thought if they used it all our beloved took, which hand is which? If we used it, all of our. All of our beloved tokens would go up and they just have it. Like, you can literally be like, you know, Elon Musk has decided that chainlink will be the currency of Planet Mars. Chain link, like down 3% on the day are we doing here? Stellar. Did go up yesterday on their DTCC news though, so I think that that's nice. But. Yeah, so you have one path where they're basically using the technology, but they're going to do it in their own way. And it becomes plumbing and it's boring and it's not investable. And then there's the other side where maybe we can build those systems or parallel systems. The problem is the parallel systems we've been building are getting hacked every day by North Korea. Right. I mean, I don't. I don't. It's May 29th now, but I remember on May 19th, we had had 15 days with hacks in May. 15 out of 19 days, something in defi had been hacked. So I guess you can't blame Wall street for wanting to create their own systems, because it turns out that even though we hate them, maybe they're actually adults and we're a bunch of children. Possible, but I feel I'm 49 years old. Do I seem 49 to you? Child, man, child, man, child. Might go to a water park today. Man, 49. Crushing it. Went to a pump track the other day on my BMX bike. Not kidding. It actually happened. Hey, you want a story? That's hilarious. That has nothing to do with crypto. Me too. Client loses 500 million on claw due to uncapped AI usage. How do you pay that back? So this is like an AI. It's an AI company, right? AI enterprise client racked up a half a billion dollar bill in a single month on anthropics cloud AI after nobody thought to set a spending limit. Okay, I have so many questions. This is on crypto briefing, so it counts. I don't even know if that's a real site. So if a, like, Claude doesn't alert you, like, hey, your usage limits for the day are up. I guess they didn't send one, but like usually have some sort of usage of it. Nobody was like, hey, maybe I'll check mid month on how much we're spending on Claude, who has $500 million to spend in a month. This is like, you'd have to be like Apple or Nvidia. Who is this person? And they're supposed to be apparently like an AI consultant that did this. I don't understand. I. Someone said here, wait, I heard the story. I so can't read. I heard this story might have been about meta. They require employees to meet an AI. Token limit. Okay, thanks, Drew. Good to see you, man. I remember that time that we shared your. Your T shirt store on here. That's cool. Send it again if it's out there. Yeah, somebody asked me, what's the latest on the peace deals? Well, no, I'm not cnn. Yeah, like, I. I don't understand how this happens. It's just like a funny story. I can't even imagine. Like, we were talking about it before. You're like, a, this guy gets fired, right? I mean, somebody gets fired, but B, it's like, I'll pay you back in monthly installments. $500 million, man. Absolutely brutal. Hey, do you guys have anything you want to talk about? Show me in the comments and I will attempt to read them. I guess. Let me see if I can blow up my thing. Somebody said, oh, it's AWS something. Okay, well, that sounds bad for AWS. I can't read 600 million to create pooh throwing monkey memes. That's a good comment. I couldn't read it till I brought it up. So now we're really winging it because it's too small over there, but it's perfect here. I don't think they were doing that for the memes, to be honest. Can you address the fact that the entire market is. Oh, I can't read that one. That one's bad. Says. Says bad words. I can't say. Let's. What's this? Let's talk about the next narrative. AI tokens all pumping. Fet render, inj. Are they actually all pumping right now? I haven't looked, but I remember last time they all pumped on the AI narrative and then they all went back down. I. So I think if you do these, like, narrative pump things defi Summer nfts Metaverse fall. Remember when Facebook rebranded to meta and all the metaverse things went up? That's disgusting. No, I don't believe in those because I think that tokens rebrand to be like, the thing. I remember when all the layer ones became defi tokens and now they're all going to become AI tokens. And I do believe some of these will do well, by the way. But, like, I feel like you just get these narratives and things pump and then they inevitably drop down. It seems like Hyper Liquid is the strongest thing in the market. I don't own any because I'm ridiculous and dumb. But, you know, it's very actually easy to value that. And it seems to be outperforming every time we see a drop. Oh, before we dive into more things, our friend Chris, our Friends over at btq, they had sent this. You might remember I had Chris Tam, the president of btq, on the show recently. And every once in a while someone we've had on the show will send some news and be like, will you share the news and share some news. BTQ Technologies completes acquisition of Q Perfect. It announced this actually last year, expanding its Quantum ready technology stack into software emulation, digital twin and control systems. This is my segue to talk about Quantum because it seems like that speaking of narratives that come and go, we had Quantum there for a very long time and this should still be a major narrative. I mean, basically what they did there is they added a massive software element to their stack, which was largely hardware. But this was just my segue to say that Quantum is still very important and it's something that needs to be discussed. And there are companies like btq, which is publicly traded out there that are working on this very, very actively on a day to day basis. But nobody's talking about Quantum anymore. Do you find that weird? Yes. We have other things to talk about, like aliens and more. Did you see that the White House teased an alien thing yesterday and then did a like third grade animation afterwards after they tease it of an illegal alien. They did like crop circles and stuff. It was like, oh my God, we're finally getting an alien. And then it was like they lifted a guy who was like ambiguously Mexican over a fence. Like, this has to be a simulation, right? I've never been a theory of a fan of the like, hey, we're in a simulation theory because it just seems so minimizing to our humanity. But man, some days it just feels like we're in a Summit. Donald Trump Jr. Married Jeffrey Epstein's private banker's daughter. And his dad didn't go. And his dad was like, known him a long time. He's a good guy. But I've got other things to do. It's a simulation, right? And people are like, that didn't happen. I'm like, no, it's literally his private banker from West Palm beach, like, married her. That could be a complete coincidence. I'm just saying, like, if there was a simulation, these are the kind of things that you would definitely throw at us. Guys, I actually want to talk to you a lot about a lot of things. Can't read anything you're saying, so I have to end the stream. But I will tell you this today on the Daily Wolf. There's not much news, which seems to be a Friday thing, so I'm going to do a deep dive into the genesis of bitcoins. Toshi Nakamoto. Why it matters. Why it's so important. I think it's going to be really good. Honestly, I think it's gonna be great. Not to toot my own horn, but I'm pretty good at this. All right, guys. That's all I got for you today. I will see you on Monday. It's been amazing. Macro Monday. Will be back this Monday. I know you were dying without it this week. See you guys later. That's dope. That's dope.