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- [00:02]
Scott Melker
Bitcoin ETF inflows are absolutely exploding on a historic streak doing as the President would say, great big numbers. The best, the best numbers. And speaking of the President, American bitcoin raising over $200 million to buy mining equipment and to compete and make America great for bitcoin mining. We've got this and a whole lot of other stories talked about today with Tillman and, and Andrew, the team from Arch public. Let's go.
- [00:33]
Tillman
Let's do. Let's do.
- [00:48]
Scott Melker
I used to do that intro where I say what's up everybody? I'm Scott Melker, also known as the Wolf of Wall Streets. Before we get started, please subscribe and hit the like button. But I don't do that anymore because it's weird to ask you to it do those things even though I just asked you to do those things. I have a question for Andrew as we get started. What does it mean to move your noodle?
- [01:07]
Andrew
I'll leave it to the audience to figure that out. Yeah, just the question itself should move the noodle just a bit.
- [01:15]
Scott Melker
We were talking right before the show and if Andrew said if that doesn't move your noodle then I don't know what does. Until the was just very thrown off.
- [01:26]
Tillman
My words were don't ever say move your noodle again.
- [01:30]
Scott Melker
Okay. But speaking of things that should potentially, I'm not going to say your specific noodles, but the news that could move noodles of bitcoin believers, we've got Bitcoin's ETF inflow streak hits 15 days, nearly 5 billion as Bitcoin hovers below all time high. So listen, we got stonks making all time highs left and right. Right. I mean we had Coinbase make an all time high S and P itself, the nasdaq, all these things. Bitcoin obviously sucks because it hasn't. So it's dead.
- [02:01]
Andrew
Yeah. There's a long standing saying in traditional finance that came to prominence about 20 years ago and it's buy low, sell when you die, not buy low, sell, sell high. And the reason why this came to prominence is because securities based lending came to prominence. So instead of selling off portions of their gains, boomers and the like simply take out securities based loans against those gains and they never sell. So this is the reason why inflows continue unabated. And the reason why inflows continue unabated is because the inflows consistently outstrip whatever small outflows that exist out there. You know, boomers that get into these products, blackrock, bitwise and the like, they Just don't sell positions. They don't sell positions. And this is why these streaks will continue. There may be a day or two where there's outflows for some reason and then another streak will happen. And if you look at BlackRock's product and look at a graph of it over the last 16 months, that's what it looks like. 16, 17, 18 days in a row. Then there's two days that are down, another 11 days in a row, two days that are down, four days in a row, one day down. That, that's what it looks like. And the reason why it's on its way to be, you know, $100 billion in AUM probably by the end of the year.
- [03:40]
Scott Melker
I mean we haven't even talked about it because it happened between shows and actually I wasn't here last Tuesday. But I mean Bill Pulte is saying that Fannie Mae and Freddie Mac have to look at Bitcoin on a registered United States exchange, have to count it as part of your assets. That's just another parallel step to exactly what you're talking about which is bitcoin or certainly ETFs and all those just being counted as part of your portfolio for all of that lending. I mean Fannie Mae, Freddie Mac saying, hey, your Bitcoin counts towards your net worth and towards your reserves for your mortgage payments and stuff. It's just absolutely massive. Especially alongside exactly what you're saying. Just shows that Bitcoin and maybe crypto as a whole will just be another asset class that counts for everything.
- [04:25]
Andrew
Well, you can't not count Bitcoin ETFs in your brokerage account.
- [04:31]
Scott Melker
They could discount them, right?
- [04:32]
Andrew
Part of your asset, right. Asset base, it's an ETF and ETFs are security. Right? So it is, of course they're going to do that. But actual, you know, spot held Bitcoin is also going to be considered. And you know, we're, we're, you know, whether, whether we'd love to talk about politics or not. Let's set that aside. The truth of the matter is for bitcoin and crypto we're in a renaissance period right now, man. There's no question about it, whether, whether we like the fact that price is or isn't exploding higher. I mean a reminder, it was at 55k last July 4th. We're now at 106 and change, right? So that's pretty good movement. We're in a renaissance period where things like the Pulte home inclusion for Bitcoin happens And it's like, oh, it's interesting for a half a day and then we've moved on to the next six, seven stories, four of them which just happened yesterday. It's really an extraordinary period. It is.
- [05:44]
Tillman
Well, it's going to open up so many different opportunities that didn't exist before. I think recognizing Bitcoin specifically, but really all crypto as an asset, right, and allowing the banks to custody it without a liability attached to that was the first move in a positive direction. But it's really starting to become recognized as the best collateral to hold against a loan. And specifically look at what Grant Cardone is doing and some of these other large real estate developers where they're injecting Bitcoin treasury models into the real estate that they are acquiring. That alone changes the trajectory in the upside of that piece of real estate and provides a backstop to the loan that's being taken out to develop the real estate unlike any other asset. And if you attach a net cash flow contribution to that Bitcoin treasury in the form of a percentage of your net positive cash flow going into the treasury every quarter, you really have a growing savings account that can quickly catch up with the debt number and accelerate the payback, accelerate profit taking, accelerate the whole model. So if you then say, okay, well what's the downside to that acceleration? Well, it's like a, you know, 5% allocation. So if it goes down by 50%, you're down 2 1/2%. It's really nothing. And it, and it can very much be overcomeable. But the time that Bitcoin has been able to produce, like Michael Saylor had done in his presentation, that I think is the best, the best verbal explanation for why every company on earth should be reinvesting some of their profit dollars into Bitcoin. Private public institution, pension fund. Every entity that's a financial entity, he makes a case for it. And it's a very compelling case. And the case is, is that it's average return for the last 16 years is 79%. And if you take that, and you take that consistency and you compare it against every other potential vehicle, you have to be insane not to consider it at some level for, you know, for your, as a, some percentage of your, your investment portfolio. So I think we're at a day where not only the, the, the institutions are seeing it, but now retail is getting force fed it through exposure that they're going to get whether they like it or not. For example, Coinbase being in the S&P 500 well, I mean, every retirement account strategy soon. Yeah. So we're seeing this rising tide floats all ship. And the rising tide is inclusion in Wall Street. Wall street is that rising tide. And so we're going to see this constant buy floor that's a part of that rising tide. And that's just money being placed. And the allocation percentages are going to have to continue to, you know, meet minimum threshold. So let's just say that's 5%. Well, 5%. Acquiring it right now would require a ton of money. If you're a big public company that wants to do this type of a strategy, well, imagine how much capital it's going to require five years from now. So the later you get on the train, the more capital intensive that that that percentage allocation is going to cost you. And I think people are starting to see that and it's going to form some sort of a race here. But I think we're in the beginning stages of that race.
- [09:29]
Scott Melker
I want to kind of zoom in on something you were just talking about because as we see those allocations increase and as we see people start to realize and as they start to talk about it, that's going to put in a huge amount of buying pressure. And we have Rick Edelman here. I don't know if people saw this yesterday. I think we talked about it briefly. We did here. So most people here saw it. I mean, this is one of the largest financial advisors on the planet, manages 300 billion, I think has 1.4 million clients. So this is a big, big deal. 60, 40 bond allocation model is dead. Conservative investors should have 10% crypto allocation, moderate 25. And aggressive clients should allocate 40% of their investments to crypto. He's talking about your entire portfolio. Owning crypto is no longer a speculative position. Here's where Tillman just said there's no logic to admitting an asset class that's outperformed all others for 15 consecutive years. And then at the bottom, like just puts the screws into financial advisors. Are you a fiduciary serving your clients best interest or are you simply taking an order? Or you're simply an order taker, avoiding difficult conversations. I mean, Andrew, listen, you were in the advisor space for 473 years.
- [10:35]
Andrew
Yeah. So here's the context to that. So if you take all the advisors in a country, let's say it's 5,000, the reality is about 65% of them don't work at Morgan Stanley, UBS and Merrill lynch and Wells Fargo. They all work at independent Slash RIA shops, which is rare, where Rick Edelman is at. For those folks, 65% of all advisors, Rick Edelman is Larry Fink for them. He is what they all want to be because he set up his own shop, he built it to 300 billion. That's an insane number when you don't have a Merrill lynch or a Morgan Stanley on your business card. It's just, hi, my name is Rick, let me take care of your money. And Now I've got 300 billion under management. That is insane. So he is Larry Fink for financial advisors. And he has basically said if you're not putting your clients into some allocation of Bitcoin, they are now short bitcoin. That's the reality there. If you don't own Bitcoin, you are short Bitcoin. If you're an advisor not making some, having a conversation about Bitcoin, then your clients are now short Bitcoin. That will quickly turn into the bible for financial advisors over the next 24 months. So there are some big conferences that happen latter part of this year and then into next year where Rick will be a big speaker, blah, blah, blah. I'm telling you, Rick is the Larry Fink for financial advisors. And him saying this and giving a full throated endorsement of bitcoin and crypto overall is extraordinary. It in and of itself would have moved Bitcoin 15 higher three years ago, but you know, Rick said that and then Robinhood's doing crazy things and Coinbase and Microstrategy and Strike and Strife and we can't keep up. Right, but this is where we're at again. Renaissance for bitcoin and crypto.
- [12:58]
Scott Melker
Okay, let's pretend that this is actually a news show since you just mentioned a whole lot of things and that we don't just go off on tangents and talk about whatever we want on any given day. With zero Prep, I wrote a newsletter today that was literally. Crypto news is booming because yesterday was one of those days where there was just too much to even remotely keep up with. So obviously we had the microstrategy buy another 531 million. Now Meta Planet up in the top 5 of public holders they have. I mean, insane. We can talk about any of these given things in a moment. Solana ETF with staking set to begin trading Wednesday. We've been seeing and wondering if Ethereum would get staking for like two years and all of a sudden we don't even have Solana ETFs. And here comes a Solana ETF with staking. Okay, Wild. Then we have fun. Strats. Thomas Lee, the bull of all bulls, saying Ethereum is the new Bitcoin. Coincidentally, he's now working with Bit Mine Immersion Technologies, who used to be a bitcoin miner and was putting Bitcoin on the balance sheet. Fully switching to now being Ethereum stakers who are going to put Ethereum on the balance sheet. He's working with them. Okay. I Wonder if that 250 million has anything to do with these comments. I can't say officially this is what he said. The financial services industry and crypto are converging and it really started with stablecoins, which is the Chinese chatgpt of crypto because it's viral adoption by consumers, business, banks and now Visa. I agree. Underneath the stablecoin industry is Ethereum. That's really the backbone architecture of Stablecoin. So it's important to create a project that accumulates Ethereum to essentially protect and have some influence on the network. Hey, I'm not done because Robinhood, which I was supposed to go to and now feel really dumb for not going to in con. But I was like, I interviewed Vlad with you guys like three weeks ago. I'm not going to fly there. Then all of a sudden it was like Vitalik and Vlad, oops. And they had like drone light shows over a castle like my friend was sending me. I was like, okay, fuck you. But so here you go. Eth and Sol staking now available to US customers on Robinhood. This was all announced in one day. Robinhood announcing the launch of Perpetual Futures this summer in the United States. Coinbase also launching Perpetual Futures at the end of this month. So that's full Bitmex coming to the US Right? The original futures, we've never had those products. Robinhood has launched tokenized US stocks and ETFs in the EU by my count. I think Coinbase doing that. I know Kraken is doing that. I know Gemini is now doing that. Tokenized stocks. They'll be able to trade all the stocks, right? I mean, should I keep going?
- [15:29]
Andrew
I don't even know the fact that here's something interesting. Everything that happened at Robin Hood, Vitalik was there and they did an interview with him and it didn't really crack the top five things that got talked about. Given what Robin Hood announced. That is. That is mind blowing stuff. That really is mind blowing. Vitalik is there with Robin Hood doing an interview about their work with ETH and they're like, nobody really talks. Whatever is happening Funny looking guy knows something about crypto. But we got other more important stuff we're about talking.
- [16:09]
Scott Melker
I want to talk about the Tom Lee thing because it's interesting what he said about Ethereum being underlying for stablecoins. So first of all, we know that stablecoins are proliferating on multiple chains. Actually, there's more stable coins on Tron than Ethereum. Excuse me, more tether on Tron than Ethereum. Because I don't think USDC is there so entirely. I mean, there was also a Robinhood announcement, by the way, they were doing all this on Arbitrum, which is like, okay, which came out of nowhere. But he's saying that you need to basically go all in on ETH because of stablecoins. I think I like eth, but I think he's wrong. I think now that Circle is trading publicly, like people aren't buying Ethereum to get exposure to stable coins when stable coins are everywhere. I just don't think that you gain the value of stable coins by buying ETH necessarily.
- [16:56]
Tillman
Everybody's got to pick a pie. And there's, you know, some people that like to go after bigger pieces of smaller pies and some people like to go after smaller pieces of bigger pies. ETH is a smaller pie than Bitcoin. And there's a lot of people that have material stakes in the pie. And there's, there's a reason why they're building on it because they own a lot and they have a lot of liquidity that can be pumped into projects to build on those chains. And so will ETH emerge as the victor in smart contract layer one protocols? I. I don't think so, but it depends upon what use case. I mean, if you think about the ICO days, it did a wonderful job of allowing the markets to kind of speak and those, the, the amount of projects that came out, the success of those projects, the amount of capital that those projects pulled into the crypto space was all a material change in the markets. It was, it was the Wall street back then, literally. It's a lot of liquidity for the price movement that we all recognize during those time periods. And so do I think ETH is a good play? Yeah, I think ETH is a good play, but I think he's a good play because it's in the top five. And the again, the rising tide floats all ships. It's like there's going to be a lot of liquidity. That's traditional liquidity. That's in the tradfi space. That's going to bet on every horse. You know, that's the name of the game when you have that much money is just diversification and ETH is going to catch a lot of that. I think if you had, if you have enough position of eth, could you make up for, you know, or could you time it correctly to make a lot of money? Yeah, I think there's an opportunity there.
- [18:49]
Scott Melker
I, I don't think there's anything wrong with doing this on eth. I'm just saying specifically that quote, I think the premise is slightly off because I don't think that's the best way to make money on stable coins.
- [18:59]
Tillman
I agree with you 100%.
- [19:01]
Andrew
Well again, going back to Robin Hood's announcements, right, they have Vitalik there because they're building stuff on eth, but when it comes to Robin Hood's own layer, base layer that they're going to build on, it's arbitrum. Right. And so like what, I mean, I, I, I, I just again it's, it's, it's mind blowing what was announced yesterday. That's like a quarter's worth of announcements for crypto for Robinhood yesterday.
- [19:34]
Scott Melker
By the way, if you deposit crypto into Robinhood right now, they give you flat out 2% bonus. Yeah, if you deposit, if you just take your crypto from wherever. I'm not saying you should by the way, but up to you. If you deposit, if you deposit a million dollars into Robinhood right now, in crypto you just get 20,000 bucks for free.
- [19:52]
Andrew
It should be noted that there is an epic battle brewing between Coinbase and Robinhood that's going to play itself out over the next three to five years. Yeah, there's no, there's no doubt about it. And, and given the scale of customers. So let's assume at this point that you know, round up just a bit. Robin Hood has 30 million customers and Coinbase has a hundred million. Like juxtapose that versus like JP Morgan and Bank of America. So JP Morgan has 8, 80 million customers, bank of America has 60. Think about how close those, you know, tech organizations are to those 200 year old brands. Like it is kind of stunning and it's if you're sitting, you know, at, at, at executive level meetings for bank of America or doing the same with J.P. morgan. Like what, what are you talking about? Like you're thinking if you're not talking about the competition, eating your lunch with these types of companies, it's only a matter of time until a, an enormous amount of capital and Customer base migrates somewhere else. It's, it's an extraordinary story the next three to five years associated with the, you know, kind of plate of spaghetti that turns into banks, also exchanges and crypto exchanges and banks and they're all doing the same thing. And who wins? Man, that, that, that is, that is quite a story.
- [21:29]
Scott Melker
I'm ChatGPT and these numbers, pretty astounding. So Robinhood's 25.2 million funded accounts. So I think you're right actually about them having 30, I think 25.2 million. And they have 193 billion assets under management end of 2024. So Coinbase has four times as many users, which is astounding. 105, but 334 billion as of Q. Well, that was Q1 2024, so it's probably a lot higher. But like Robinhood has a quarter of the customers but more than half of the assets under management, which is big. But then you go to JP Morgan, 71 million digitally active customers, and bank of America only 69 million. I don't think I realized that Coinbase actually had much more active and many more active customers than JP Morgan and Bank of America America.
- [22:12]
Andrew
Yeah, it, that is, that is a story that hasn't been told enough yet. We just stumbled on it on a talk we were having a couple weeks ago because I just, I just thought to myself, you know what, 100 million, that's a lot like what does JP Morgan have? And I looked it up and I said, holy smokes, it's more than JP Morgan. Now the assets are much, much different, right? JP Morgan assets versus Coinbase assets. But again, what does JP Morgan actually offer that's significantly different than Coinbase now, okay, maybe a little more lending, some commercial lending, some mortgage based lending, all that stuff, but we're, that's all gonna happen on Coinbase at some point. Like, like that, that will all happen on, on Coinbase at some point. I mean, heck, if Circle, by the way, is applying for a, a bank license, I don't know. Coinbase kind of is in bed with Circle. How long is it going to be before Coinbase has bank license and they can do all of those things?
- [23:13]
Tillman
Well, the whole point of the integration of the, the TRADFI and the crypto space is that you have seamless liquidity pools that now are all connected and so you can flow, you can take money from any market to, to any market. Basically the snap of your fingers. Instant settlement, instant liquidity and instant activity. And so that, what does that do? That well, that just drives the MTU value, the monthly transactional using user value, through the roof. If people have more flexibility and they have more ability to trade across different markets any time of the day, the brokers are going to make more money. And so there's just this natural evolution of markets that we're, we're at the bleeding edge of and we're getting to see happen right before our eyes. But I don't agree necessarily that these legacy companies that don't adopt the curve right now are dead in the water. I think we're going to see a huge period of time of acquisitions. I think the people that are the most, the, the most prudent legacy financial institutions can just enter the game by buying some of these crypto.
- [24:30]
Scott Melker
That's what Robin Hood's doing. They bought one in Canada. They bought Bit Stamp, Coinbase has bought. Yeah, I mean this is the way, don't reinvent the wheel.
- [24:38]
Andrew
They're, Listen, I, you know, I, I, I spoke with somebody at Morgan Stanley the other day that said that there's significant rumors coming out of that company that they're going to make some sort of crypto acquisition. So that, that's another version of this over the next, you know, 18 to 36 months, like, like that absolutely will happen. Like, there's, there's no reason for that not to happen.
- [25:00]
Tillman
So, which is exciting because I've even seen, and it's important to kind of note these things because we've been in the space long enough to where it, it's just second nature to us. But do you remember how dry the capital markets were after this last pop in terms of like when FTX crashed, there wasn't a dollar to be placed in the crypto space. Not one hand was out. In fact, everybody was cutting, everybody had capital calls that were coming in that were the big funds. And that spigot stayed off for years. And now you see that spigot being turned on in spades, like full blast, as much money that can pump into the space as possible. And then you see the front runners of that spending contest and acquisition contest being the, like the ripples of the space who weathered the storm with huge bags that now can turn that into, you know, gunpowder essentially. And Huge bags.
- [26:04]
Scott Melker
Yeah, huge, huge, huge bags. You mentioned the banking side of it, Andrew. Obviously, I think we know that that's the direction everybody's going to go because to be a bank gives them exponentially more power. We saw, I think there was an April Robinhood announced and by the way, Vlad corrected Me, right in front of you guys. So I said, hey, you guys are becoming a bank. I think he said, no, we're providing private bank services, checking in, savings accounts. It's obviously in a partnership with another bank. Coinbase we know will do the same. But this has been announced. Circle applies for US National Trust bank charter after mega ipo. Right. So like, why depend on a bank if you're a stable coin, if you can be the bank when you're a stable coin? This is the trend.
- [26:42]
Andrew
Yeah, so. So there's a long line outside the door of the OCC right now. That's the officer of the comptroller currency, which is for the Fed, that that's where you go to get your banking license. And Circle, there's others. You know, talk to Caitlin Long. She knows there's a ton of exchanges and crypto companies that are going that are attempting to get bank licenses. And again, there's a reason for that. Leverage lending and the like just completely explodes when you have access to everything and anything associated with, you know, United States banking structures. So that's going to happen. Those will be. So for example, if you're an exchange that goes public, say it's a Gemini or Kraken or something else. And then, you know, you talk about your exchange, you talk about MTUs, you talk about stuff. Well, that's going to wear off at some point over a three, six, nine month period. After you're public, what's the next thing that you have to do that says, oh wow, here's another reason to own the stock. You announced that you've now got a banking license and you're gonna do all kinds of banking stuff, which means you're gonna make more money. So of course, all of these organizations that are in line to go public are also in line at the OCC door saying, hey, can we have a banking license again? Renaissance of, of Bitcoin and crypto. That's where we're at. All of these things are happening.
- [28:12]
Tillman
Things that look like science fiction when science fiction writers write it end up being reality. Right. It's like you watch old science fiction and it doesn't take, you know, you look at Kraken, Kraken did this years and years ago. They saw the future. This is an inevitable evolution of the financial services industry. And I think Vlad's just being real careful because, you know, you can't be a bank until you're a bank. But I think it's inevitable. I don't think that you're going to. I think the the, the headwinds of regulation made this seemingly impossible up until this last administration change. And now those headwinds are tailwinds. And I think they're going to let the markets discover what the functionality and the capabilities of this technology really mean to America. And that's going to be a really good thing because we're going to see an entirely shit entire shift to crypto based infrastructure. And that's a huge improvement that again allows a lot of liquidity to come into the network that otherwise couldn't greatest Freudian slip.
- [29:20]
Scott Melker
He said we're gonna see entire an entirely.
- [29:24]
Andrew
Well between that and move your noodle, I mean we're, we're on a, we're on a hot one.
- [29:30]
Tillman
Crypto conversation.
- [29:32]
Scott Melker
I know I could have left move your noodle on the sidelines to be honest.
- [29:37]
Andrew
You couldn't because you're like me and you're actually 14 years old on the inside.
- [29:43]
Scott Melker
Couldn't just let it be. Speaking of infrastructure and bitcoin and all the things Trump backed American Bitcoin raises 220 million to buy bitcoin and mining equipment so we'd seen announcements that the sons of Trump or starting a mining company with God knows whoever, 220 million is a pretty big number for buying bitcoin and mining equipment just to get started at this point in the cycle.
- [30:08]
Andrew
Yeah, yeah, I'll let them see you.
- [30:10]
Scott Melker
Shaking your head because listen, I'm not saying the tops in by any chance, but I remember all the miners last cycle who like 50,000 bitcoin, 55,000 bitcoin were piling in, buying miners at effectively a 5 to 6x premium to what they could have by the time these miners are bought and online. It's going to be interesting to see where the market's at. I mean that's why core scientific, which survived through some very creative like financing, they basically were going to be bankrupt because they bought a shit ton of $20,000 miners that were $2,000 miners a year later. Right. And couldn't get them online until Bitcoin was $20,000 instead of $65,000. That's how this works.
- [30:52]
Tillman
Well, the hash rate, you know, the functionality of these pieces of equipment, the asics, it's, it's exponential. It grows so quickly that if you get your order of miners at the wrong time in the epoch you're, they can't produce you money. Especially compared to another mine that has the new state of the art version of the asics. And so the best way to describe it is, is that Depending upon when you get your order and get them online will completely change your outcome from a net positive to a large net negative. And they, because the, the technology progresses so quickly and it's an arms race, the more hash rate you have in the system at any given point in time, the larger the return in terms of Bitcoin that you get paid. And so as that percentage dwindles with your outdated machines, they, they become more costly in terms of the power that you have to produce, to consume, to run them. And so what, what I would say that I like about this headline is that he's going to learn all this stuff now. And I will tell you, like, we do need to understand the mining industry for national security interest alone. Like if we're going to have a bitcoin treasury, we need to understand the network that supports the Treasury. And mining is the best way to understand the bitcoin network, in my opinion. And it's accessible to everyone. And he's going to find out all of the things that I know about on and people that are way smarter than me know about the, the mining space that need to be addressed. Like the concentration of where ASICs come from. Like we need domestic manufacturers that are producing mining equipment here in the United States. He's going to find that out. Why?
- [32:44]
Scott Melker
Because they should build.
- [32:45]
Tillman
Well, that's really what they should build. And, but, but that, that's where if he, he's so interested in solving problems and this money is going to, you know, not be as efficiently spent as the next trunch will be. And the next trunch and the next trunch. The good news is, is he's going to find out a lot. It'll be a high, highly valuable ed. Educational exercise.
- [33:08]
Scott Melker
Yeah, I absolutely agree there. Go ahead, Andrew.
- [33:12]
Andrew
All of this, there's enormous amounts of money pouring into Bitcoin in the crypto space just writ large. There's billions and billions and billions just in the past six months. ETF inflows, treasury companies, BlackRock's Biddle portfolio and on and on and on. I would suggest that the institutional money, the retail money, certainly the institutional money, they're probably just going back on a daily basis when they make these decisions and they're just replaying what Larry Fink has had to say in the last nine months. What if Bitcoin even begins to approach the mortgage market over the past 40 years? You know, what if everybody just gets to 1 to 2% in their portfolio? With Bitcoin, we're at 500 to 700K. So all the quote unquote smart money is thinking, if Larry Fink says it, it's probably going to happen. So do I want a 5 to 7x on my money over the next 3 to 5 years? Yes. Thanks, I'll take it. How do I get involved? How can I get involved on the lowest floor possible? Do I put my money in American bitcoin and get in at $2 a share before it goes to an IPO, blah blah blah, just like Circle did? And now I'm adjacent to bitcoin, but I'm making more than 3 to 5x. That's the reason why all of this is happening. There's a base layer of trust with a guy like Larry who is effectively, you know, projecting where things are going to be over the next five years.
- [34:51]
Tillman
Well, I think, I think the, the thing that you just said that's exceptionally important is people are saying, how do I get involved? Up until this point, there hadn't been very many ways to get involved. And, and a lot of people are precluded from those. Like there's a lot of big money endowments and big money companies that have charters they have to abide by. They can't just go willy nilly and go, you know what? We're, we got a great hankering. We're going to go put 3% of this into bitcoin. We're going to hold it cold storage and hey Bob, you want to hold it for us? You write down the keys and like, it doesn't work like that. There's, there's too much risk in, in fraud and in loss and just, you know, all sorts of risks that then become injected in their model that don't exist now. So now you have all these instruments and all these products that are being created and rolled out by the Larry Finks of the world, by the arch publics of the world that are helping people acquire bitcoin, helping them get exposure to bitcoin, helping that they otherwise couldn't because the vehicles did not exist, the opportunities didn't exist prior to kind of this last surge of growth in the market. And I think that's indicative of, of, you know, anytime you suppress natural demand, you're going to see this explosion at some point of growth. And I think that the, the builders of our industry were busy at work during the Biden administration, but it wasn't, there were very few launches because the headwinds were too strong. And then now you're seeing this like, unlocking of all this built up, pinned up, not Only demand, but also productivity during that, that time period. You're seeing the people who have set up the infrastructure, ready to see the people use the infrastructure. And that collide of activity is making a new market, the most exciting market to be a part of that exists like this. I can't look at another financial market that doesn't in, you know, envy ours right now is the point.
- [36:57]
Andrew
Yeah, If Robin Hood would have done that, that whole thing yesterday, two years ago, they'd have gotten like six wells notices in two weeks. Like that. That would have happened. Right. They'd have been like, hey, you know what? We're gonna put you out of business. We hate you. And now they can do all of that because there's this huge highway that they can drive on. So extraordinary stuff.
- [37:19]
Scott Melker
Yeah. So pivoting, since we're talking about exchanges, we were like, hey, what should we talk about with Arch Public today? And somehow these three mega brains weren't like, hey, we should probably tell people that you can use it on Kraken now.
- [37:33]
Andrew
Yeah, that's correct.
- [37:34]
Scott Melker
Literally not one of us was like, we should talk about, we should talk about that. We have incredible trades. Talk about all the things it does. But like just passively, hey, you know.
- [37:43]
Tillman
Well, like we just got finished saying it's all about inclusion and it's all about access. And Kraken is live now. We have some customers trading it. It is brand spanking new, still in beta. So if you're a Canadian customer specifically that have been waiting for something that you can utilize our software on Kraken is that. And so you can come over right now and we'll get you set up and get you working through all of the different things that need to be done before you're up in live trading. And by the time you're up and live trading, it'll hopefully be out of beta and you'll be ready to rock and roll.
- [38:22]
Andrew
And we can talk all day long about performance, but it's unsolicited customer commentary that tells the story.
- [38:31]
Scott Melker
I did. I did. I didn't even know to do that, but I did it because I had it. That's what you're gonna refer to is that, or did I miss, Did I just celebrate for no reason?
- [38:40]
Andrew
This is a customer of ours. You know, they've got an anonymous, you know, account. I don't know who this is, but it's somebody that's been using our tools with xrp. And when XRP dipped back when there was a dip a couple weeks ago, bought at 196. And then when s when XRP popped and it's sold at 229 or whatever the number is there. You know, we're now where we at with XRP218, right. So we went from 229, 230 and then quickly back down into the teens. But again the algorithm sniped that trade right there. Just, just extraordinary stuff. And so when customers and clients are seeing it and they, they, they have to go to social media to say this is extraordinary stuff, like you know that proverbially that, that moves my noodle.
- [39:34]
Tillman
As they say, you're going to be able to, after a one hour session with our team members, set your own parameters and you're not going to be lost and in the dark when the algo triggers, you're going to know exactly when it's going to trigger because you're the one that's set the parameters. It's a very empowering feeling and it's something that, you know, seeing is believing. That's why we've made it free for you to use and we will spend as much time as needed to help you get up and running and getting that experience that we have personally had and that we're excited about sharing. It really does kind of change your notion. And here's the simple thing that you should ask yourself. And if it's not this ca the case then you should at least come talk to us and use the free product which is am I selling on giant green candles consistently and am I buying on giant red candles consistently? Because that's really if you're DCA into any position long term, buying the dips is the name of the game. So this software helps you define in your own terms what is a dip to me. And I want to set a set parameter to where I'm buying those. And so you don't have to be awake, you don't have to be sitting at your computer to execute those trades. You've set those parameters in advance and when the market presents the conditions that execute the trades, the automation executes also.
- [41:01]
Scott Melker
Real quick, Andrew, real quick. You guys said we get to talk to someone there. Is it going to be Todd?
- [41:07]
Andrew
That's absolutely right. That's absolutely right. By the way, if look at that.
- [41:13]
Scott Melker
Style, his butt's not even in the chair.
- [41:14]
Andrew
Oh man. Outstanding upper leg. There's another video from later in the day that's even better. But you know, we'll hear that one thing that, that's important if you want to use our tools in A tax advantaged or tax free way. We work with directed ira. So if you want to take your IRA funds, overlay our strategies and your ability to turn the knobs and dial in exactly what you want to do and not have to deal with taxes while everything is happening. We work with directed ira. Our, our, our team will set you up, get a directed IRA person on there. You can even, you can even pay via your, your ira, you know, consult a tax professional and all that stuff. But we are just going to continue to announce and announce and announce.
- [42:07]
Scott Melker
So I can go flip my ira which I existing IRA and e trade wherever, you know, wherever flip it into directed IRA which is a self directed IRA and utilize arch public completely. That's free because I'm trading inside my ira.
- [42:21]
Andrew
Absolutely.
- [42:21]
Scott Melker
And I didn't even know this like you guys. We gotta get better at announcing.
- [42:24]
Andrew
Yeah. So, so people of scale that use our strategies, you know, they ask questions like well what about taxes? Because I'm, you know, I'm, I'm accumulating but I'm also generating cash yield. So like well we're not accountants so you got to talk to your accountant about that. But that even takes this conversation out of it. So okay, no taxes. Yeah. Just take your IRA funds, make the switcheroo to direct IRA and you can use our tools like crazy. So it's a, it's an extraordinary partnership and something that people have been clamoring for in a big way.
- [42:59]
Tillman
Well, I mean there's, there's day trading is taxed at the highest tax rate and when you can day trade inside your IRA and make, take advantage of the volatility of the market through these tools, it makes for a compelling story because all of that is now tax free.
- [43:19]
Scott Melker
Yeah, it's, it's, it's wild. So how do people get set up, start to participate, do all the things.
- [43:27]
Tillman
Go to our website archpublic.com click on any one of the bitcoin or crypto specific algos. Get started for free is the great place to start and enter your information and one of our team members will reach out and help you get set up. And the first order of business is to, you know, you could open up an exchange at Gemini and or Kraken at this point if you have one of those then you're ready to go. And the only thing that's needed next is to schedule a time with our team member to help you get set up and understand the features and the functionality of the.
- [44:04]
Andrew
Just to be very, very clear, even if you Sign up for a free account and you need assistance from a service standpoint, we will service you like crazy. You don't have to be a paid concierge member to get extraordinary service. With Arch Public, you're going to get a hold of a human. When you schedule a demo and you schedule some service time with us, there will be humans that show up and talk with you, walk with you, set up with you, do all the things to set you up. We want to be an outlier associated with crypto in this industry to where we service you and you can get a hold of us.
- [44:41]
Scott Melker
You mean not, not, not scamming and somewhat helpful.
- [44:45]
Andrew
All right, exactly.
- [44:47]
Tillman
I, I think for the high bar.
- [44:48]
Scott Melker
In crypto, we got.
- [44:50]
Tillman
Well, it's really, really hard to get a human being on the phone in, in any of the crypto space. Yeah. And, and it's frustrating because if, if you could just spend five minutes with somebody and ask the questions that you have, then you can get a lot further in your journey quicker. And so we, we are there to help. This. You know, trading is, is somewhat complicated in most traditional senses, and I think there's a lot of people that assume this is difficult because it involves trading. That's the point of automation. It makes it very, very simple. So we can show you how to make it simple and we can get you set up and then you will feel exceptionally empowered to do it on your own. So we're here to help.
- [45:33]
Scott Melker
This is my favorite person in the comments right now. When can we trade meme coins on Arch? Then he says, defund the irs, which I like. He says, I'm just a troll. I use the product. At this point, I don't think it's a rug pull. See, High bar, very high bar. I use it. I thought it might be a rug pull, but at this point, maybe just not have any of your. They don't have any control of any of your money. Yeah, we're not saying we. I'm saying we instead of they now, by the way, because I'm a very powerful equity holder and my vote counts.
- [46:06]
Andrew
Yeah. One last thing to add. We, we added SUI as a, as a, as an asset associated with cracking. So, so you can now use our tools and our strategies with sui as well as Bitcoin, Ethereum, Solana and XRP with Kraken.
- [46:23]
Tillman
In true crypto news fashion, we've got so many good things to talk about. We forget to announce all of these great announcements we are constantly developing over here. We want more inclusion and more symbols.
- [46:36]
Scott Melker
I mean, Literally, I was like, hey, let's, you know, what should we talk about? You're like, well, there's this great XRP trade. Let's bring up the thing. In the meantime, you can now trade using arch public tax free in your ira. Oh, and by the way, for those of you who have been bitching that you can't use the thing wherever you are because it was only Gemini, you can use it now. Those are things that should have been on the radar. Maybe Andrew, you're wonderful, but maybe we need a marketing guy.
- [47:02]
Andrew
Yeah, yeah, that's true. Yeah, maybe. I agree, I agree, I agree. Yeah, we've got lots, lots and lots more announcements to come from us. We, we simply want to allow everybody to use institutional level tools at a retail level so that you're on the same playing field as, you know, the Bitcoin treasury companies that are using tools to acquire, acquire Bitcoin. You should be able to do the.
- [47:28]
Tillman
Same if you ask yourself. You know, the thing that we started with as a central premise to this tool was that we all, every single person in the company, down to a person, all had this feeling of boy, I wish I had bought when I had found out, or boy, I wish I had bought a little bit more here or boy, I missed that dip and it really cost me. There wasn't one of us that said, man, we have enough, I'm done. I think that we're, we're finished accumulating. And so that premise of like, I want, I want to set goals for myself as it pertains to the exposure that I need in this asset class. Those goals are hard to achieve without a lot of time, effort and discipline. This is a tool that takes all of that off the table for you and allows you to set it and forget it and achieve those goals. So it's, it's something that, again, to Andrew's point is it's been traditionally only available in the institutional space because everyone builds it specific to their platform and they don't want to share it because they like you to put your money with them. We do not hold your money. Your money stays on Kraken or on Gemini or on any of the exchanges that we're about to integrate with. And you just are using our tools through Trading View and, and an API bridge to, to get that done. So we can help you figure that out, we can help you get, get set up. But it's completely user driven software that's going to leave you feeling very enthusiastic and excited and empowered.
- [49:01]
Scott Melker
Those are how all the Things I feel right now talking to you gentlemen.
- [49:06]
Andrew
Told you. Movement.
- [49:09]
Scott Melker
I don't even know how I literally get through the other six days of the week without this being my morning. I literally cry when T doesn't show up. I cry when Tobin doesn't show up. I don't do it on camera, but it's rough, man. We gotta have more meetings or something, you know, you gotta have meetings. What's the next event? What's the next. I know. I'm just now just talking like, what's the next event?
- [49:35]
Andrew
September. September. We're gonna have a concierge program event, invite a bunch of clients out, and we are going to go back to Vegas because I have got Tillman addicted to racing. GT3 RSS and Ferraris.
- [49:51]
Scott Melker
I missed that. You guys went out for the car experience.
- [49:54]
Tillman
You left early, Scott. I can't help you. Okay.
- [49:58]
Andrew
You.
- [49:58]
Tillman
You let. You leave.
- [49:59]
Scott Melker
I had to move. To be fair, I had to literally move.
- [50:04]
Tillman
No, but I will tell you this. If you haven't done it, this is not a paid promotion, but they have a deal out of the Las Vegas Speedway, and it's a business that allows you to drive supercars like you would never drive your own. And there's a pro driver in the seat next to you, and it's. It was one of the most fun, if not the most fun, I've had as an adult. It is an absolute kick in the face. So it's. If you haven't done it, do it.
- [50:30]
Scott Melker
Yeah. Move your noodle. God. You guys are taking your clients out in GT3Rs. Drew, maybe you should have said it could be a scam and you just want meme points. Okay, guys, well, I think we've beaten this to death enough. Go to Kraken, iras. All the other. I can't even wait for the announcements next week. Maybe. Maybe at the. I'm coming. So, by the way, get ready, because. Not missing that this time, but we're gonna go do that, and then we'll have, like, a Robin Hood conference. We'll make, like, seven announcements from the cards.
- [51:16]
Andrew
Awesome. Yeah, Absolutely awesome.
- [51:19]
Scott Melker
Done deal. All right, guys, check out archpublic.com for all the things we just discussed. Thank you to Tillman and to Andrew, as always. Guys, it's a pleasure. See you next week. Bye, guys.
- [51:32]
Tillman
You guys. That's dope.