Michael Mcclone, CVS, Johnson Johnson discussed on Bloomberg Surveillance

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Bigger store Kohl's putting on some really really strong numbers here so the consumer is flushed with cash but look at a CVS and that kind of goes back to the old retail story of There's just too many stores in American And you've got to kind of pare down the footprint for a lot of these chains and here we see it again from CBS I'm gonna go gee Johnson Johnson toshiba something else I can't remember My brain's fried here after working with fair over three hours But I'm sorry we're going to see a lot more of this of restructuring deals of raptor on CVS full of much more on that in the coming hours It's just breaking Right now also breaking as I'm looking for an entry point on bit dog Michael mcclone joins us with Bloomberg intelligence truly expert and not only Bitcoin but also the crypto thing as well Why is finally the rose off Bitcoin Reason for 60,000 down to 59,000 Disappointed that she believes down 20% over the last 7 days And to me I'm saying that because that's to me clearly what's happened We're seeing a little bit of purging of the speculative access and things that are really kind of speculation machines like the dog coins And Bitcoin is there Part of that but can you remember is there enduring bull markets that recently made new heights or just point back To me this is part of that wall wearing coming back to support levels And just a question do we hold 60 or do we hold 50 I think it's more likely 60 but we'll give it a couple of days We don't do buy hold selling this And Micah seriously I don't want to put you in a speculative position here But the short answer is a lot of people go on at 30,000 He's an idiot It'll never go to 60,000 Right Do you envision Mike McDonnell like 70 80 a 100,000 Is that in the framework of the extrapolation you have for this event Oh absolutely That's not so much event To me it's a revolution that's in the works and it's we're in a stage right now People are just getting off of zero It's clearly becoming global collateral Bitcoin is theorem together And Tom you know that key thing as a strategist is a trader When someone calls you out and says you're an idiot you usually write And that's what they told me at 30,000 And they just told me the other day when I pointed up on crude oil's peaking that it's got to go higher and it's just what you want to hear as a strategy is because That's what I'm seeing in Bitcoin and I fully fully expect it's on a trajectory towards a 100,000 The key thing is if it's just simply catches up to performance if Ethereum this year it's going there And that's the key thing Those are the three musketeers That's Bitcoin assemblyman crypto dollars That's part of the legitimization space The most widely traded crypto assets are not so much are not Bitcoin a theorem They're dollars And that to me is where it's going the Congress is going to U.S. is going to regulate that But this is part of investment portfolios and it's the greater risk now is getting off zero People have to get up there And I think that's what's happening Tom you're just mentioning cone resident how they opened an office in Miami Bloomberg intelligence awesome just open an office in Miami if you can believe that And guess who the number one founding analyst is in Miami I would have no idea Mike mcclone Somehow he worked out a scam to relocate from Chile Connecticut down to Miami Beach Miami like Michael McDonald's rip up the script here We talked to a Mitch Rochelle about it yesterday but the new vibrancy of Miami the stereotype is the founding point for so much of Latin and South America but it's more than that isn't it Well it's clearly that encrypt those Tom They get the currency melting risks For instance even my colleague in the office the other day from Brazil said we need to protect our wealth We need to protect it And Bitcoin is a go to liquid easy We can all start from And I think that's one thing a lot of Americans are not understanding particularly people like Jamie and diamond who says he does not care It's the best part of ESG in cryptos that it's really helping the masses of the world and get digital property rights and Bitcoin is the most significant one Got to leave it there Michael McGowan Thank you so much Bitcoin this morning With our news in Washington here's an 8th in Hager Tom Paul good morning Vice president Kamala Harris says inflation is one of the highest priorities for The White House In an exclusive interview with George Stephanopoulos on ABC's Good Morning America the vice president says the Biden administration's already working on it.

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