40 Burst results for "Warren Buffett"
A highlight from 1456: THIS Is Why BlackRock Is Buying So Much Bitcoin - Michael Saylor
"In today's show, I'm going to be breaking down the latest Bitcoin technical analysis as Bitcoin price reached $38 ,000 and is pumping like a mofo. Did you know two years ago today Bitcoin hit that $69 ,000 all time high? Only a matter of time before we return to all time high levels. Also breaking news, the BlackRock iShares Ethereum Trust is officially registered in Delaware. That's right. Max Kaiser responded to this news and Ethereum ETF will create an interesting arbitrage between proof of work and proof of stake. Properly managed ETH ETF short positions will perpetually generate profits to roll into the Bitcoin ETF. He also points out that used derivatives to make his short sell ETH ETF to zero and use the proceeds to buy Bitcoin. He also shares that it's an open secret that Warren Buffett and Charlie Munger are both crooks. They hate Bitcoin because it makes them look stupid on top of being crooked. Also in today's show, ARK Invest and 21Shares partnered to launch their digital asset ETF suite. Also breaking news, the SEC's first window to approve all 12 spot Bitcoin ETFs is officially beginning today. The clock is ticking. We'll also be discussing Bitcoin ETF launch could be delayed by more than a month after the official SEC approval. Now MicroStrategy is now up $1 .27 billion in profit in their Bitcoin stash. Let's freaking go. And speaking of Michael Saylor, he shares why BlackRock is buying so much Bitcoin right now, and he also expects Bitcoin demand to double after the halving and spot Bitcoin ETF approvals. We're also going to be discussing why Saylor believes you need to own at least 0 .1 Bitcoin as well as his latest 2024 Bitcoin price prediction. All this plus so much more in today's show.
Fresh update on "warren buffett" discussed on Bloomberg Radio New York Show
"For a halt include higher expected than volume or when employee absences are quote negatively impacting the starbucks experience sources tell bloomberg occidental petroleum is in talks to buy shell driller crown rock and more on with that story here's bloomberg steve rapoport charlie it comes as the consolidation wave in north america's most prolific oil field gathers momentum crown rock is one of the larger closely held oil and gas producers in the permian basin north america's biggest source of crude output from that region of west texas and new mexico has doubled just in six years to the point where it yields more oil on a daily basis than opec heavyweight iraq if the purchase is successful it would augment the portfolio occidental had already expanded with the thirty eight billion dollar takeover of anadarko petroleum corp in twenty nineteen that deal was aided by an investment by occidental's biggest shareholder warren buffett's berkshire hathaway charlie and that steve rapoport reporting oxy today down by just about two percent and core technology plans to build a two billion dollar semiconductor advanced packaging facility in arizona an investment that could generate as many as two thousand jobs and
Monitor Show 06:00 11-06-2023 06:00
"Interactive brokers' clients earn up to 4 .83 % on their uninvested, instantly available USD cash balances. Rates subject to change. Visit ibkr .com slash interest rates to learn more. Future of law. Visit Bloomberg law dot com. Up next, we'll get the latest on military and diplomatic efforts in the Israel -Hamas war. Plus, is it slow and steady with the rates for the Fed? It's coming up in our 6 a .m. news. Hour 2 of Bloomberg Daybreak starts now. Secretary of State Antony Blinken visits Turkey and Baghdad. Donald Trump takes the stand today at his civil trial in New York. And Warren Buffett hoards cash in Berkshire Hathaway's latest quarterly report. President Biden announces money for the long -awaited Gateway project. Plus, check your children's fruit pouches. Here's a recall. I'm Michael Barr. More ahead. I'm John Stash, Aaron Swartz. Another rough day for the Giants. Blown out by the Raiders. Daniel Jones injured again. The Jets tonight host the Chargers. That's all straight ahead on Bloomberg Daybreak. On Bloomberg 1130 New York. Bloomberg 99 .1 Washington, D .C. Bloomberg 106 .1 Boston. Bloomberg 960 San Francisco. Sirius XM 119. And around the world on Bloomberg Radio dot com and via the Bloomberg Business App. Good morning. I'm Nathan Hager. And I'm Karen Moscow. And futures this morning are higher. S &P futures up two tenths of a percent or so.
Fresh update on "warren buffett" discussed on Bloomberg Businessweek
"$5. Cilce's fiscal year operating margins between 14 .6 % to 14 8%. The estimate there had been for 14 .7%. So you take a look at some of these numbers and the clearly market sees good news here. We're going to continue to keep an eye on that. All right, let's move over to Marvell Technology. It's a chip device company and there are third quarter numbers. On the bottom line, it is by a beat one penny, adjusted EPS of $0 .41. Revenue coming in slightly better than expected, $1 .42 billion. But the outlook for revenue for this quarter, the fourth quarter, $1 .42 billion. Analysts looking were for $1 .46 billion and you can see those losses in after hours trading deepen. Now down 1 .3 % in after hours trade. Just want to get to Dell because last time that they reported their quarterly update, the stock the rally 21 % to our new record high. It's a different tone. The stock is selling in the aftermarket. Third quarter total net revenue of $22 .25 billion, a little bit light. Street was looking for $22 .98 billion. Third quarter adjusted operating income $1 .96 billion. That is a B. $1 .78 billion was the street estimate. Third quarter adjusted EPS $1 .88 and that is about $0 .42 better than the what street was expecting, but the stock is down about 3 .5%. Keep in mind the stock is up almost 90 % year to date. Looking last time around it was kind of hopeful in terms of a recovery in the market for corporate technology. We will look for some insight on the call and in the press release to see maybe why there is so much negativity in the aftermarket. And also Bloomberg intelligence heading into this report was signaling kind of this cautious recovery that we have seen in the PC market, so they were expecting sales to slip about 7 % compared to the 13 % drop in the prior quarter. So Katie do you have a cyber truck in your car? Apparently you only have to put $250 down to so I'm thinking about it. Get on the mailing list essentially. It's a little pricey. That's a good point Carol. Alright guys that's a wrap. Our cross -platform coverage wrapping up the month of November and getting ready for the last month of trading of 2023. Radio, TV, YouTube Bloomberg Originals. We do it all across the Bloomberg world. We'll see you again tomorrow. You're listening to Bloomberg Business Week with Carol Messer and Tim Stenebeck on Bloomberg Radio. Alright yes indeed everybody wrapping up as we said the trade here watching some of those stocks just out with earnings in the aftermarket. Gals still down about 2 % We'll watch for any additional headlines. In the meantime as you know just about Was it 24 hours ago or so we were talking a lot about the passing of Charlie Munger Warren Buffett's partner in building Berkshire Hathaway into the behemoth it is today and then last night word came that former US Secretary of State Henry Kissinger who advised multiple presidents and who really helped define or did American foreign policy during the 1970s had passed away at the age of 100 and just I think as we look at everything that's going on geopolitically we think about the impact he had on our world how he continued to be really a go -to voice on geopolitical stress points. Bloomberg opinion columnist Andreas Kluth writes about the part of his legacy that will not make
Monitor Show 05:00 11-06-2023 05:00
"Investment Advisors. Switch to Interactive Brokers for lowest cost global trading and turnkey custody solutions. No ticket charges and no conflicts of your interests at ibkr .com slash ria. Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. From the Bloomberg Interactive Brokers Studios, this is Bloomberg Daybreak for Monday, November 6th. Coming up today. Israeli troops encircle Gaza City and say they've seized the Hamas base. We bring you the latest from Israel. Diplomatic efforts continue as Secretary of State Antony Blinken visits Turkey and Baghdad. Donald Trump takes the stand today at his civil trial in New York. And Warren Buffett hoards cash in Berkshire Hathaway's latest quarterly report. President Biden announces money for the long -awaited Gateway Project. Plus, check your children's fruit pouches. Here's a recall. I'm Mikey Barr. More ahead. I'm John Stash, Aaron Swartz. Another rough day for the Giants. Blown out by the Raiders. Daniel Jones injured again. The Jets tonight host the Chargers. That's all straight ahead on Bloomberg Daybreak. On Bloomberg 1130 New York. Bloomberg 99 .1 Washington, D .C. Bloomberg 106 .1 Boston. Bloomberg 960 San Francisco. Sirius XM 119. And around the world on BloombergRadio .com and via the Bloomberg Business App. Good morning. I'm Nathan Hager. And I'm Karen Moskow. And U .S. stock index futures are higher. S &P futures up to tenths of a percent, about 8 points. Dow futures, little change. Nasdaq futures have a quarter percent, or 37 points. And the 10 -year Treasury yield, 4 .58 percent. Nathan? Karen, we begin with the latest on the war. Israel's military says its ground forces have now encircled Gaza City and taken control of a Hamas base. We get more from Bloomberg's Paul Wallace. They stepped up.
Fresh update on "warren buffett" discussed on Sound ON
"Opec heavyweight iraq if if the purchase is successful it would augment the portfolio occidental had already expanded with the thirty eight billion dollar takeover of anadarko petroleum corp in twenty nineteen that deal was aided by an investment by those biggest shareholder warren buffett's berkshire hathaway charlie and that steve rapoport reporting occidental petroleum trading lower by one point seven percent crude oil moving lower today along with other oil stocks happy is buying acquired is acquiring immunogen for ten point one billion dollars in move a move aimed at gaining access to some of the hottest new drugs in the cancer market at the up two point three percent immunogen surging eighty two point five percent those are our top company stories this is work you're listening to bloomberg's sound on with joe rely bloomberg radio
A highlight from 1450: I Expect Bitcoin ETF Approval By End of Month
"In today's show, I'll be breaking down the latest Bitcoin technical analysis. Also, Sam Bankman freed. He is found guilty on all seven charges in the FTX fraud trial. Quoting Max Kaiser, tough talk when it comes to the minor league drug Adderall ish corner like SPF, but where's all the bravado when Jamie Diamond gets caught manipulating markets and defrauding the public again or the next crooked Warren Buffett bailout? He makes great point. Also in today's show, Bitcoin to the moon. Send it. I'm going to be sharing with you the top five Bitcoin price predictions for twenty twenty four and beyond. That's what's up. Also, the latest from Cathie Wood of ARK Invest, also a twenty seven hundred percent Bitcoin price explosion is incoming courtesy of one catalyst, according to the BitMEX founder Arthur Hayes. We'll also be talking about breaking news. The Valkyrie CIO expects the spot Bitcoin ETF approval before the end of the month. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good, crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at CryptoNewsAlerts .net. Again, that's Crypto News Alerts dot net. Welcome, everyone. Today is podcast episode number fourteen hundred and fifty. Can you believe it? I'm your host, JV, and today is November 3rd. Welcome to Moonvember of twenty twenty three. Let's kick off today's show with our market watch as we do each and every day. We got Bitcoin up about a quarter percent, hovering just under thirty five thousand. We have Ether up point three percent trading at eighteen hundred dollars. Cardano, one of the top gainers, up five and a half percent and also XRP barely in the green. And if we are in doubt, they say you need to zoom out. Let's look at the one month. Wow, that's much more sexier, isn't it? Now we have Bitcoin up twenty seven percent for the month. We got ETH up about 10 percent. Solana is up almost 70 percent. Cardano up twenty three percent. XRP up fourteen percent. BNB up seven percent. Personally, I love it when everything in crypto is a winner. It don't get no sexier than that. And look at Chainlink up fifty two percent for the month. Good lord. And check it out. Coin market cap percent in just under one point three trillion with about forty five billion in volume in the past 24 hours. Bitcoin dominance pulled back a little bit, currently at fifty two point seven percent, and the ether dominance in the 16 percentage range for the first time I have ever seen that I could recall. It's currently at sixteen point nine percent as Bitcoin dominance continues to outpace the rest of the market, especially Ethereum. And checking out the top one hundred crypto gainers of the past twenty four hours for chain up fourteen and a half percent trading at three dollars and twenty cent and Oasis Network up twelve percent trading at six point two cents, followed by the trust wallet token up almost twelve percent trading at a dollar twenty three and checking out crypto bubbles so we can see the top gainers for the past week. Massive shout out to Emilio. I appreciate the super chat. Fam, you're way too kind. Much love, much respect. He just said you are amazing. Nah, I think you're amazing. And I appreciate the orange so we can orange pill more mofos and help change the world. Let's freaking go. Much love, fam. But as we can see on the crypto bubbles on your screen, we got a lot of gainers overall. That means the market cap is pumping and a rising tide rises all ships and checking out the crypto greed and fear index. We're currently rated a sixty five in greed. Yesterday was a seventy two last week, a seventy and last month a forty nine, which is neutral. So there you have it, my fam. What's your thoughts on the current Bitcoin price action? Let me know. Are you pumped up for Moomvember? I sure as hell am. Let's dive into our Bitcoin technical analysis for the day. Check out the charts with a Bitcoin price action is likely to go next. Bitcoin broke below thirty five G's baby after the November 2nd Wall Street open, as analysis warned of overheated derivatives. As you know, derivatives are financial tools of financial destruction. Yeah, for real. Now Bitcoin under does the post fed gains. We're currently tinkering just under that thirty five thousand, which is now back at a resistance. The highs had come on the back of the encouraging language from Jay Powell, the chairman of the Federal Reserve, who in a speech suggested the interest rate hikes might soon end. Now, the Fed opted not to change the rates at the latest meeting on the Federal Open Market Committee, which was November 1st quoting their press release. Recent indicators suggest the economic activity expanded at a strong pace. In the third quarter, job gains have moderated since earlier in the year, but remain strong and the unemployment rate has remained low. Inflation remains elevated and accompanying press release stated. They also shared here that the U .S. banking system is sound and resilient. Sure it is. Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring and inflation. The extent of these effects remain uncertain. The committee remains highly attentive to inflation risk. We all know they're full of ish, right, to say the least. And quoting crypto analyst, Bitcoin breaks out, reaches a new yearly high, which is currently just shy of 36 G's. Now, not a massive breakout, but as long as we say above 34 .8, which we currently are, the next target is 36 .5 to 37 ,000. And the altcoins will follow after, which is typically what seems to go down. Now, down over a thousand from its highs. Bitcoin was worrying some with derivative markets, particularly in the focus, quoting Charles Edwards at Capriole Investments. All Bitcoin derivatives markets are overheated at present. This captures the perps, futures and options. Stay safe out there. And also, we have reacting popular trader school agreed that arguing it was now the spot market to charge of saving the Bitcoin price strength, as he shares here, something to be aware of when sizing up positions currently, when derivatives get hot. This puts increasing focus on spot market to support the current prices and the trend. That's right. In his own analysis, we also had material indicators concluding caution should be applied to the current Bitcoin trading environment, meaning expect more volatility ahead and uploading the snapshot of liquidity on the Bitcoin order book for the largest global exchange, Binance. It warned support levels were apt to disappear quickly. A form of a rug pull. So you have been warned. Newcomer support gaining liquidity at this time lay at both 34 and 33 .5. So there you have it, fam. Again, how many of you are currently bullish on that? King crypto. And with that being shared, now let's discuss our next story of the day. The latest from Michael Saylor. He was recently interviewed on the news and shared some very positive sentiment in the Bitcoin market. Also, he has been a dollar cost averaging and stacking stats. This week, the Bitcoin price came within a hair of thirty six. I think we hit like thirty five nine ninety during our watch party before abruptly reversing and correcting to thirty four to fifty. But after nearly a 30 percent run over the past month, it is natural for the price to cool off as some traders take profit and market participants evaluate whether or not the catalyst for the rally remain valid. Now, despite the intraday price action, which saw almost five percent drawdown, a number of analysts remain bullish on Bitcoin naturally, and some expect another gamma squeeze. If the Bitcoin price manages to push through the thirty six three hundred level, we're only like four hundred dollars off of that right now. Just FYI, permables like MicroStrategy CEO Michael Saylor appear unbothered by the whipsaw price action. And on November 1st, MicroStrategy announced the October purchase of one hundred and fifty five more Bitcoin for five point three million. As the outlines here in October, MicroStrategy acquired additional one hundred and fifty five BTC for five point three million bucks, now holding one hundred and fifty eight thousand four hundred BTC like, whoa, and what's the most mind boggling? Saylor didn't even get into Bitcoin until twenty twenty. So it goes to show you someone can come here in twenty twenty three and become an even bigger whale than Michael Saylor. In fact, the likes of the Black Rocks of the world put Michael Saylor to shame because we're talking about mega mega mega whales on a massive scale. And when asked about the upcoming Bitcoin having during an interview on Squawk Box, here's what he had to share. Most of the natural sellers of Bitcoin in the market right now are Bitcoin miners and they have to sell to cover their electricity bills and capital costs and retire their debt. That's about a billion dollars per month worth of selling into the market. The protocol forces that to be cut in half as of next April or late April. And he also says, so you're going to see twelve billion bucks of natural selling per year converted to six billion of natural selling a year and at the same time as things like the spot ETFs increase the demand for Bitcoin. So that's why all of us are fairly bullish over the next 12 months. How many of you are bullish? Let me know. Demand is going to increase and supply is going to contract. And this is fairly unprecedented in the history of Wall Street. That's what's up now is a pretty ideal entry point for Bitcoin, according to Saylor. Also, he was recently interviewed and I actually transcribed this video clip when he was speaking on Squawk on the street. And I feel this is very relevant. Here's what Saylor says for the industry to move to the next level. We need to migrate to adult supervision. We're going to need the big banks to become the crypto custodians. We're going to need Wall Street to take a role and we need to rationalize away from the one hundred thousand crypto tokens. You know, the yo yo coins that people are manipulating to Bitcoin. Bitcoin is an asset without an issuer. It is the one universally recognized protocol that is a commodity in the space. And so when banks on Wall Street and responsible custodians are managing Bitcoin and the industry takes its eyes away from all the shiny little tokens that have distracted and demolish shareholder value, I think the industry moves to the next level and we 10x from here. Now, what's another 10x from the current price action we're talking about roughly? What is that? Three hundred and fifty thousand dollars per BTC. Send it and let's frickin go. Also quoting him here, I think the liabilities or the early crypto cowboys, the crypto tokens, which are unregistered securities, the unreliable crypto custodians for the industry to move to the next level. We're going to need to migrate to adult super vision. And I shared with you the rest of that quote. So there you have it. Let me know if you agree or disagree with the one and only giga Chad Michael Saylor. Next story of the day. This is breaking news. SBF has been found guilty in all seven fraudulent charges. Yeah, this is wild. Yeah, here we go. I'm going to read all this to you. Former FTX CEO Sam Bankman Freed was found guilty of all seven charges by a jury in his criminal trial in New York after about four hours of deliberations, meaning it didn't take long. Bankman Freed was found guilty of two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy and one count of money laundering conspiracy. Good Lord. That's a lot of charges and it's just getting started. He'll be back in court in March to continue with some more charges to probably get guilty of. We'll return to the court for sentences by New York District Judge Lewis Kaplan March 28th. So that's the date is right before the having. Government prosecutors will recommend a sentence, but Judge Kaplan will have the final say. Now, Bankman Freed's crimes each carry a maximum sentence of between five and 20 years in prison with the wire fraud, wire fraud conspiracy and money laundering conspiracy carrying a maximum of 20 years sentence in a press conference outside the court, the New York Southern District U .S. Attorney Damian Williams called Bankman Freed's crimes a multibillion dollar scheme designed to make him the king of crypto, right? The Michael Jordan of crypto, the Warren Buffett of crypto and of one the biggest financial frauds in American history, Bankman Freed's attorney Mark Cohen said in a statement, we respect the jury's decision, but we are very disappointed with the result. Naturally, Mr. Bankman Freed maintains his innocence and will continue to vigorously fight the charges against him. Anyone here in the chat. We have over 200 people in the live. Anyone believe he is innocent? I am just curious if there's any outliers out there. Anyways, other key FTF execs, including former Alameda CEO Caroline Ellison, FTX co -founder Gary Wang and former engineering head Nishad Singh have all pleaded guilty to various charges and work with the government to testify against Bankman Freed in the five week trial. Now, Bankman Freed had pleaded not guilty to all the charges. And during his trial, he took the stand to maintain his innocence against the best wishes of his lawyers who told him to shut the what up, just saying, and marking the FTX November 2022 collapse as a number of big mistakes I made. He denied any wrongdoing in the FTX relationship with Alameda, attempting to distance himself from key decisions, which we all know is not true, according to the testimonies of their execs, Bankman Freed pinned the blame on Gary Wang for creating a function that allowed Alameda to trade funds on FTX that it didn't have and claimed he wasn't entirely sure what happened. Oh, I don't know what happened with Alameda's line of credit, which ballooned to billions in the collapsing crypto market of 2022. In his testimony, he also blamed Caroline Ellison for not focusing on risk management. How are you going to blame your ex? That's just why. Anyways, he didn't believe he defrauded FTX customers by taking over eight billion worth of their funds. Instead, he framed it as Alameda just borrowing from the exchange. Yeah, borrowing from investors without their permission is called stealing. I just wanted to point that one out. Now, Max Kaiser responded to this attorney who spoke out and he said, this is tough talk when it comes to the minor league, the drug Adderall ish coiner like SPF, but where's all the bravado when Jamie, the tapeworm diamond, the best the CEO, JP Morgan Chase, gets caught manipulating markets and defrauding the public again or the next crooked Warren Buffett bailout? You talk a good game, but you're no different than SPF. And I think Max makes some excellent points. The big dogs get away with this all the time, of course, but clearly there's levels to this ish, if you know what I mean. Now, what are your thoughts surrounding this case? How do you think this will likely continue to play out in March as they continue with the court trial facing more charges he's up against? Let me know, fam. I appreciate that. I got some very bullish predictions to share with you. In fact, I'm going to be sharing with you the top five Bitcoin price predictions for twenty, twenty four and beyond. Bitcoin continues to circle its highest levels in 18 months. Again, the annual high for the year is currently almost thirty six thousand dollars, but let's dive right into the predictions. First and foremost, Matrix Port predicts forty five thousand within two months. So two months from November would mean January. I could definitely see Bitcoin hitting forty, fifty thousand easy peasy before the halving. But let me know your thoughts. Now, that prediction came from Matrix Port, the crypto trading firm founded by Jihan Wu, himself a founder, a Bitcoin mining giant Bitmain in a blog post in late October. Matrix Port doubled down on a forty five thousand year end price targets. That's the Christmas target. Let's go, Santa, which is initially revealed in January. It was based on a handful of in -house models with Matrix Port also successfully predicting Bitcoin's October gains. Quitting them here, Bitcoin is breaking above the July thirty one five resistance showing that forty five is achievable by the year's end. And again, I think that's a very doable target. But let me know your thoughts. The next prediction comes from Bitcoin. They say new all time high pre halving. I also agree with that, especially if we get the ETF approval. I would anticipate above and beyond sixty nine thousand before the April twenty twenty four halving, but that's only if you know what I mean. We'll see how this plays out. The halving is a watershed moment. We all know the blocks of subsidies get cut in half for the miners in September. Bitcoin stated Bitcoin would surpass its current sixty nine thousand peak before April of twenty twenty four. Now they shared here, no, Bitcoin is not going to top before the halving. Yes, it's going to reach a new all time high before the halving. No, Bitcoin is not going to one hundred and sixty G's because the magnitude of every pullback is large. This means it'll peak after the halving in twenty twenty four. And yes, the target price is around two hundred and fifty thousand dollars. I love that. That's right in alignment with Max Keiser's short term target of two hundred and twenty thousand. Now, they also shared this chart. Both the all time high and the post halving two hundred and fifty thousand target came courtesy of the Elliott Wave theory charting, which we cover commonly here in the show with Bitcoin mimicking the behavior from the previous cycles. And you can see their estimation of how the Bitcoin price is likely to rise is coming directly from Bitcoin. Now, Bitcoin did, however, make room for a total of four pullbacks. As outlined in this chart, you can see one, two, three, four. Before we hit the peak at five, quoting them here, there will be one pullback before breaking to a new all time high, followed by another pullback at around one hundred and twenty five thousand. Additionally, there will be two more pullbacks after the halving, which are not demonstrated here. Now for the next one, three Bitcoin price models, one hundred and thirty thousand dollar target zone. That's right. Let's freaking go. Quoting CryptoCon here, I'm prepared for the lower prices, but the stars are aligning at one hundred and thirty for the Bitcoin this cycle. And the concept also hinges on the halving events and the next peak should come around four years after the sixty nine thousand dollar move in November of twenty twenty one. We all know everything is cyclical and Bitcoin every four years driven by the halving. Now the one million dollar question. How about a one million dollar Bitcoin price target leads us to Kathy Wood of ARK Invest, the CEO and chief investment officer, has joined former BitMEX CEO Arthur Hayes in doubling down on her seven figure price prediction when this could happen, understandably up for debate. But changing macroeconomic tides have emboldened what remains a daring Bitcoin price prediction. In October, Hayes maintained that the path to a one million dollar coin was in full effect thanks to the macro reality. Now quoting BlockWorks on the Margin podcast right here, this was shared actually on an interview. If people lose faith in the bond market and this fiat artificial construction we have created over the past 80 to 100 years, this global economy and how it has been structured, if we lose confidence in that, then the amount of money that's going to be looking for an alternative is going to be something that we have never seen before. He shared over in an interview and speaking of Kathy Wood, she was just on Bloomberg and here's what she shared when she was asked, what's a better hedge against inflation? Is it Bitcoin or is it gold? And very boldly she said, Bitcoin hands down, hands down is a hedge against both inflation and deflation. Yes, so is gold, but Bitcoin is digital. And if you look at the incremental demand we are going to see, but gold already has its demand. You know, it happened already, right? Bitcoin is new and institutions are barely involved in the young people would much rather prefer to hold Bitcoin than hold gold preach. So it's interesting that both gold and Bitcoin are hedges against deflation, but Bitcoin has been doing better recently preach and Bitcoin naturally will consider outpacing gold. I think it was Max Kaiser who said for every dollar, the Bitcoin price action increases. I'm sorry for every dollar, the gold price increases expect Bitcoin to go up by over $20 meaning it will continue to outpace gold by a factor of 20. Let me know if you agree or disagree fam. And we spoke about Kathy Wood and her a $1 million price prediction. In fact, she even has a bullish case scenario by the year 2030 of Bitcoin hitting $1 .48 million. Keep that in mind. But now let's discuss Arthur Hayes, the BitMEX founder predicting Bitcoin price to rally 2700 % taken us to $1 million per coin. And then we'll dive into the latest updates with the likelihood of the spot Bitcoin ETF being approved this month in November. According to the major asset manager, here we go. BitMEX co -founder Arthur Hayes is doubling down on a prediction. The Bitcoin is destined to reach the seven figure price. Hayes says that a monetary policy tool known as the yield curve control will act as the catalyst for Bitcoin to reach that 1 million Mark, a gain of around 2 ,700 % from the current level. Send it, let's go. Central banks use the yield curve control to influence the longterm interest rate level by buying longterm bonds as much as possible to prevent the rate from rising above the intended target. And according to Hayes, the entire U S government is enabling a loose monetary policy environment. Even as the fed continues tightening. Now the BitMEX founder first predicted seven figure Bitcoin earlier this year in March in that essay, which I covered here on the show. And at the time, he argued that China's loosening of his monetary policy would trigger Bitcoin to explode to $1 million per coin. Hayes also says the decision by the fed mid this week, uh, pause the rate hike interest rate suggests it's time to pump it up, pump, pump it up. And according to the BitMEX founder, the feds decision would trigger other central banks to also ease their monetary policy. Quoting him here over to you, BTC, let's go. I shall increase the pace of my rotation out of treasury bills and into Bitcoin and ish coins. Now that the fed had paused over two meetings, every other central bank has cover to print expect massive stimulus coming from China, Europe and Japan. So there you have it coming directly from crypto Hayes. Just blaze. Let's get it now for the moment you have all been waiting for. Let's dive into our featured story of the day and discuss a Bitcoin ETF being approved this month in November. And what would that mean for the crypto market? Let's break this baby down. We have Steven McClurg, the chief investment officer at Valkyrie investments has put forth a strong indication that a landmark approval from the U S SCC for a spot Bitcoin ETF can transpire by the month's end. Send it and let's go. The approval of the spot ETF is currently one of the biggest factors influencing the Bitcoin price as well as the entire crypto markets trajectory. You can say that again now alongside the financial giants such as black rock, the world's largest asset manager fidelity, which is about half the size of black rock. We got Vanek, we got Invesco, we got Valkyrie, one of the companies at the forefront of the battle with the SCC over the spot ETF. We also have grayscale. Don't forget the GBTC product. We have the firm managing to Bitcoin related ETFs at the moment. Now Valkyrie Bitcoin and ether strategy ETF and the Valkyrie Bitcoin miners ETF with a combined asset value of 51 .1 million at this time. And they also have active filings for spot Bitcoin ETF. Now McClurg, citing the latest amendments to Valkyrie spot, Bitcoin ETF app anticipates the SCC will issue another series of comments within the next weeks, potentially setting the stage for the approval of the 19 before rule changes by the end of the month. Send it quitting him here before anything else happens, we get a second round of comments and I believe we'll probably get those comments in the next one to three weeks. A late November approval likely means a February launch. So note that if we get the green light in November, it means the Bitcoin ETF would likely launch a few months later in February, which would be right in time again for the Bitcoin having. Now he also shared with ETF .com this interview suggesting a timeline for the SCCs response to these crucial amendments. He also argues the SCC can wait until January to ask the applicants to put the final touches on their S one filings. That's the other alternative scenario. Now Nate Geraci, host of the ETF prime pod explain that Valkyrie CIO suggests SCC can approve the 19 B fours exchange rule changes for the spot Bitcoin ETFs by the end of November and then the S one registration statements early next year. These don't have to be approved at the same time, so keep that in mind. Though they need both for the ETFs to begin trading. Now in recent weeks, the SCC has been actively communicating with ETF apps and disclose that the agency is carefully scrutinizing all spot Bitcoin ETF apps. The focal points of the SCCs inquiry have pertained to the comprehensive explanation of various risk disclosures, methodologies concerning index usage and net asset value computations, environmental risk inclusions, as well as detailed insights into custodial practices. Recent amendments to filings by entities such as BlackRock and VanEck have been augmented to eludicate how initial fun seating could be conducted and also note that BlackRock already began seeding their ETF back in October, which was last month. This is something that Larry Fink their CEO has already disclosed. Now because of that, industry experts remain cautiously optimistic. We have Matt Hogan, the CIO of bitwise asset management, highlighting lingering concerns, quitting him here. Market manipulation is still a potential stumbling block. Custody isn't a wrap, so there is still a lot of work to do, he stated. Now the anticipation isn't purely speculative. The man forecast suggests substantial interest. McClurg envisions about 10 billion bucks flowing into these products within the first one to two months post launch. While bitwise projects 50 billion in inflows within the first five years. I think that's extremely conservative. I could see trillions of inflows within five years, but hey, to each their own. Valkyrie revised its spot Bitcoin ETF filing October 30th a few days ago with an S1 registration statement submitted to the SCC outlining the Valkyrie ETF. The proposed fund shares are intended to be listed under the ticker BRRR on the NASDAQ stock exchange. Valkyrie updated their app and a part of a wider trend as several firms have similarly refiled their spot ETF apps signaling a concerted effort toward regulatory compliance and optimism for approval. Bloomberg ETF analyst, James Saferard identified these amendments as positive signals for progress and possible imminent approvals. Let me know which you think will get the green light first from the SCC. We all know it's imminent. We all know it's going to happen, but when is it going to be November? Is it going to be December? Could it be January? Could it be March? Let me know in the live poll we have on the screen. I have some bonus content to share with you before we dive into the live Q and A. This is from jury and Timur. Why is this so relevant? He is the head of macro at fidelity fidelity being a four and a half trillion dollar asset manager. He's the one who predicted a billion dollar Bitcoin price by the year 2038 and here's something he just recently shared. He shares some incredible threads I want to share with you. Bitcoin is volatile, but it's scarcity and adoption curve create the potential for it to be a high powered hedge against monetary shenanigans. I think of it as exponential gold and in this chart it shows you Bitcoin going past $1 .2 million per coin. That's pretty sexy. Gets me excited as he shares here. One of the attributes of Bitcoin is that it's a network asset and as such it's adoption curve has followed the typical S curve shape. We have seen many of the S curves throughout history and he continues here in the thread. The question, where is Bitcoin's journey along that S curve? A network assets value is driven by its adoption curve, so the slope of that curve matters a lot. Makes a good point. And when I first went down this rabbit hole in late 2020 it's adoption curve, which I defined as the number of non -zero addresses was very steep. It resembled the S curve for mobile phones during the 1980s and the 1990s, which was pretty promising. I'm going to read you a few more now. However, as the real rate narrative changed from dovish in 2020 to hawkish in 2022, the adoption curve flattened and it is now closer to the slope of the internet adoption curve from the two thousands and it has not made much progress since 2021. Now we also had some other threads which are very valuable. I'm just going to read the lead part of it with Bitcoin moving up. Once again, will its adoption curve accelerate as it did a few years ago and how does the macro trend on rates affect it? There's some very insightful data. If you want this, check the show notes below the video in the description. I'll include all of this. And he had one more good thread continuing the discussion from the recent thread on Bitcoin. I highly recommend you check this out because again, this is the head of macro over at Fidelity, one of the world's largest asset managers. So there you have it, my crypto fam and don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in our live Q and a, and I look forward to seeing you on tomorrow's episode.
Fresh update on "warren buffett" discussed on The Cryptoshow - blockchain, cryptocurrencies, Bitcoin and decentralization simply explained
"It's somewhat an experiment on the marshmallow experiment. I don't know if you know about the marshmallow experiment in this. I want to be very clear. There's a lot of additional data coming out of the marshmallow experiment that kind of puts it a bit into doubt how much selection bias was in that experiment. But the base story of the marshmallow experiment is you put a kid in a room, you give them a marshmallow. If they can handle waiting while the experiment goes out and they can wait, they get a second marshmallow. So they get twice the amount when the experiment comes back. And so it's all about being able to delay one's gratification. Now, the issue with that is a bit that it seems that later on and that's where a dramatic kind of results came in, that later on these kids that were good at delaying one's gratification, they became very successful in life. And it just shows maybe a little bit there that there was some selection bias in a sense where kids coming out of a good household, good background, they were the ones who obviously seemed to already be doing better as a kid. So it seemed that these families, their education managed to kind of educate the kids in a way that had these prolonged fruits later on. And so that's just important to kind of note there. And looking at all that. And so I want to give you maybe some insights of the tree story. And again, I don't want to rehearse the entire story because I always think you should actually read yourself. And I know that many, many people tell me that the tree story is actually one of their most favorite stories. I don't know if it is for you. You can let me know in the comments below. But I always find it very interesting to kind of get that feedback. Now, obviously, looking back today, I want to probably address three things. First one, raising kids. I find the instant gratification trap so easy today for kids. And I know this is in a couple of ways. So when I was a kid and we were driving, I was lucky if I actually had my own headphones. Most of the time, we were just listening to the radio. And so we had to listen to whatever was on the radio. And sometimes if my parents were nice, we would put on children's songs, but they were on a cassette. It was not even CDs. It was a cassette that you put into the car and then you would listen to that. And there was no, like, I want this song, I want that song, or let's play that song, or I want to listen to that song again. That just didn't exist. You just listened to whatever came on. And if you got lucky, then you had your one favorite song at the radio station. Or, you know, it took like an hour until the tape was through and then you could listen to that song again. So obviously, I think this is so powerful. Now with food, right? I mean, I don't know, delivery services. I don't know how often I catch ourselves at the family and I'm like, hey, what do you want to eat? And they're like, I want this or that. And like, we order this. Like, the instant gratification is not like, no, you get what's ever being served on the table. And I don't know, as a kid, this was the case. You either eat what was served or you just go to bed hungry. And I don't know, I feel these things so many times, this instant gratification. So, I mean, the same with movies, right? I mean, our kids are actually not allowed to watch much. So it's just like, for example, on the plane, right? Good example. Let's say we travel, then that's when our kids always get to watch something because, yeah, I mean, you want to go with the least amount of resistance there. And obviously, one of the key things there is, what's going on? Yeah, so you just watch, you just make them, like, you help them watch something so that, you know, it's quiet and they don't kind of annoy everyone else on the plane. But so there's the same thing. Like, instead of, like, I remember when I was flying for the first time, I was 16 years old when I flew, 15 years old to the US when I was the first time flying. And I mean, there was no on-demand movies. You basically had to watch whatever was on. And so, I mean, this is a night and day difference to everything. And why am I mentioning this? I'm mentioning this because, actually, on purpose, I'm trying to give my kids less instant gratification on these things, less on demand, and way more, you just have to wait. You have to take whatever comes at you right now. I think that's a really key kind of part. And, I don't know, I hope that that way I kind of train my kids to have more ability to lay their gratification. I can't wait to do the marshmallow experiment on them. Let's see how that goes. I mean, my oldest one is three, so I don't know. It's still a bit too early. The kids in the experiment were about four or five years old, which makes a bit more sense because he doesn't fully, he wouldn't fully get it yet. Yeah, the second one that I really want to share is actually daily life as a grown-up, right? I think what happens to kids as a, in a small kind of sense, as a grown-up, it gets even worse, right? And it's the dopamine trap. It was actually a book I had intended on writing before I started my current company, Cake, and it just got so busy that then I didn't have time for that and I kind of scratched it because then there became, there were so many books that came out at that time, Dopamine Nation and so on, so it was very interesting to see that it was actually the exact right hunch. And dopamine is just that hormone that really makes it sometimes difficult for us to delay gratification because it's that motivation hormone. And so, I mean, social media, all on demand, all these things, right, are so tricky for us as grown-ups. And if you ask me, like especially on weekends or something, I really try to go on a dopamine diet, if you want to call it, right, where I really try to kind of decrease the stimulus, put the tablets away, put the screens away, anything that kind of gives me this instant gratification, try to put that away because I feel this is so crucial. When I sometimes, you know, when I sit there and I'm like, I need to check my phone, but then I kind of hesitate quick, briefly, and I'm like, okay, what do I need to check my phone for? Is it for something meaningful or is it just because my mind kind of is kind of racing and I don't know, it just kind of feels nervous or something, right? So, I mean, this gives me so much kind of like, it reminds me so much of that tree story when you wanted to dig down to the tree and kind of sees the tree growing and thereby destroying everything. It's kind of a similar situation. And I mean, last but not least, it's investing. I think it's so hard in investing to have this delayed gratification.I mean, crypto is so full of these people and that's honestly, sometimes that's exactly what actually makes me want to get out of crypto, is people who want to get rich overnight, who are super toxic, they hate on everyone that, I don't know, does it different than them because they're scared that their past doesn't really work. And I mean, that's the entire story of the tree story, how kids and other classmates kind of start trying to just detract you and stuff. And I don't know, I think this is like so difficult investing and I mean, that was one of the most powerful things that Warren Buffett said when he said, you know, like in investing, like do a lot of research, then like close yourself in, shut yourself out, just make sure you don't get distracted, close the curtains, close the doors and just make a decision and don't kind of get distracted with the noise. That's just noise, right? Understand the underlying kind of fundamentals. And I think this is so powerful, this is so interesting how difficult this is, right? Obviously, especially in a market that's so irrational as crypto and so emotional as crypto. So yeah, I find this so interesting as a whole and these are kind of the takeaways I have in all that. Looking back, obviously from that. So yeah, let me know what you think. Let me know if it was your favorite story, what other story was your most favorite story. Obviously, we're gonna continue this series with the next story, story number three. And if you like this stuff, then leave me a like, leave me a comment, subscribe to the channel obviously so you don't miss any of the further videos. And yeah, with that, thanks so much. All the best. Julian, bye-bye. Hear you next time, Julian.
A highlight from 2 Reasons Bitcoin OVERPOWERS The Stock Market (Next Global SUPERPOWER)
"When do you see Bitcoin breaking that correlation and becoming something other than a risk asset, a true store of value? It's this cycle. So there's two main reasons. What's up, everybody? Welcome to another Saturday edition of the Alpha series here on Discover Crypto. We've got a great guest lined up. We're gonna be talking with Joshua Jake. How are you doing? How are you feeling? I'm doing great. Got off the plane coming to Atlanta just a few days back, you know, got on the plane at like $28 ,000 Bitcoin, maybe it was a 30K, but by the time it was off, 35K, market's going wild. People going, where's this money coming from? Is this retailers? Is this institutions? Is this BlackRock's fault? Is this not BlackRock's fault? And you know, it's just an exciting time to be in the markets for the first time in like three years. So I'm excited to be here. I mean, I can echo that. A lot of people have come in in this live. I mean, we have a huge amount of adoption over the last two years and it kind of dwindled off. Engagement dwindled off. We see that as creators on YouTube and TikTok and Instagram where we get all those metrics. So is there any sort of thought you have right now that you'd like to share with anybody, whether they're new in the market or they've been around for a long time, what's something that we need to consider with this new hype coming in? We got that God candle. Is there anything that we should be worried about? Is there any different sort of risk management we need to be doing? How do we not fall victim to these green candles and get ourselves in the wrong side of the position? Yeah, great question. I would say, honestly, the first thing is realizing that we've been lied to nonstop from our financial institutions, our asset managers, just year after year after year. How many times has crypto had an obituary? It's been like a thousand times at this point. There was actually just a recent article that showed CNBC and Bloomberg. So shout out to those analysts that have predicted the death of Bitcoin over like I think 25 times and 35 for the other. So moving into this new cycle, as we see hype come back and this life come back into these markets, it's the same vibes of early 2020 before we saw that rally into 2021. Don't chase the green candlesticks, right? venture capitalists, asset managers, banks, they don't chase green candlesticks, right? They're buying and accumulating year after year when we're in a bear market. So if you're brand new to this industry, you just see a big green candlestick and you're like, man, I should buy before it goes up further. Just take a breath, sit back and just let it find support. Just give it a moment and truly just understand what the asset you are buying actually is, how it functions, what the utility is before you make that investment decision. I mean, I couldn't agree with that anymore. You know, we talk about other people like Michael Saylor. He's become like, I don't wanna call him the mascot or the spokesman of the Bitcoin space, but he is case in point, you know, just taking it to the shoulder, taking it to the face, taking it to the back when he's just been DCA -ing nonstop. Some people call him dumb in some areas where he's buying near a top, but then you see he's also buying near a bottom. It's that, you know, time -tested strategy of buying because he sees value long -term. So how does one gain confidence when they're seeing the market swing about and, you know, to have that confidence to be a consistent buyer. But we were talking earlier, you mentioned that one of your main strategies, barring any other trading, your main strategy is DCA. So how does somebody, whether they're trading right now, they just got in or they've been around for a long time, why should somebody DCA? Why do you use that as a strategy and how can we implement that in all of our own portfolios to have more consistency and longevity in this market? Yeah, so there's two main reasons. The first one is just time in the market always beats time in the market. I think that's a historical model. A lot of people that have tracked the S &P and just traditionally traded, they follow that metric, right? You don't wanna be trying to time the bottom, time the top, just consistently average in. The second point of that is going to be just watch your local news media right now. Watch CNBC, watch Fox News, watch CNN. And not in the sense that you're gonna take and absorb information from there, but realize that every economist in the world right now that has the PhDs, has the master's degrees, has 14 books, has a $100 million hedge fund or $100 billion hedge fund, they're all fighting. They cannot compromise. They cannot come to agreement, right? Whether it's the war in the Middle East or it's the war in Ukraine or it's developments in the Pacific, people don't understand and can't figure out where we're heading in the future because we just printed $9 trillion in the last three years. So this is like the first time I think you've seen a lot of economists not say, hey, take a pause back. Let's focus on risk off assets or let's focus on risk on assets. It's more or less, man, when is the feds gonna pivot? Are they gonna pivot too quickly? Is this gonna break the wage versus wealth gap in America? Are we screwed? As a 26 year old, am I ever gonna be able to buy a home again in my life, right? These are those questions that are starting to ramp up. So off that second topic, how do I position myself? I don't care necessarily what someone that's 70 or 80 plus years old is wondering about what's going on in the market. So you just brought up Michael Saylor. He's either gonna be the next generation Warren Buffett because he makes the best trade in his life off Bitcoin, or he's gonna fail miserably. Now I like to lean towards the positive side of that because I am very bullish on Bitcoin, but that's my outlook. When I see all these economists and these people that have been managing these hedge funds and asset management firms for what, two, three, four decades at now, when they tell me that I'm wrong, that crypto is a bad investment and I see the adoption on the backend, all I go is show them the chart of the wage versus prosperity gap in America. Go to 1971, WTF, I won't say the word, but happened WTF in 1971 .com and you're gonna look at the wage versus prosperity gap. Our politicians, our lobbyists, our economists, they've been wrong for 50 years. This inflation's not stopping and it's not going to stop. So how I hedge myself is I follow something pretty similar to the 50 -25 -25 rule. What that rule is is 50 % of, this is my personal opinion, not FA, we know the rules here, is ultimately gonna be into those large caps, Bitcoin, ETH, some people like MATIC, some people like XRP, whatever your blue chips are. Personally, that's Bitcoin and ETH. The next 25 % is gonna be your large caps, mid caps, you know, you wanna diversify and that last 25 % is gonna be the VC strategy, right? You need to think like a venture capitalist coming into this space. This is the jungle, this is Wall Street 2 .0. This is no different than Silicon Valley, this is no different than the dot -com bubble. There's VCs coming in here like sharks, wrapping softwares and services in a product or a utility token and then just pumping and dumping a same product that's a copy and paste of the previous. And so for that reason, I treat it like just VCs. I want to diversify and invest into quite a few, understanding that yes, six to seven of them are going to go to zero, three to four of them are gonna break even and one is gonna hit that moon back. So I'm gonna pause you there just for a moment, just to clarify, 50 % Bitcoin and Ethereum or Bitcoin or Ethereum, another 25%, those other blue chips, we're talking, you know, something probably in the top 20, I would guess, right? Yeah, top 20, 30. And then the last 25%, you said VC, so it's a higher risk, the lower market cap most likely, are you putting all of that 25 % into one? Are you breaking up it into five, 10, 15? I suppose that might be determined on how large the capital pool is that you're pulling from. Definitely breaking up, yeah. You know, the moment you're taking more than even 5 % of your overall 100%, right? So if we have 100 % of that portfolio, you know, you shouldn't be allocating 25 % of that to Meme coins, right? Things that have no utility or products that have no fundamental value at all, like hex, right? Yes, I'm gonna take a shot right there. You know, you want to spray and pray on that because at the end of the day, it doesn't matter if necessarily these products have good utility or not. Look at Solana, it's broken down more than an ice cream machine from McDonald's. You've heard the memes, right? It's closed on Sundays like Chick -fil -A. So, you know, from that aspect, it's gonna come to that marketing. And so you, like, again, no utility, but they're gonna pump. So that's where you just want to diversify into, honestly, like 20, 30 cryptos. You know, we're talking about, you're putting 100, 200 bucks into a bunch of them. Understanding, yes, it might go to zero, but also this might be the next polygonmatic or this might be the next Decentraland Manna or whatever it is that we saw pump in 2021. You brought up a great point earlier, and I want to get your perspective on this. This is, I think, a very important consideration with Bitcoin because Bitcoin, in a lot of ways, drives the crypto ecosystem. So what happens with this narrative, I have to ask you, with risk on, risk off, currently it's still considered a risk off sort of asset in terms of you're going to typically want to look to Bitcoin when risk comes back in the market, right? Because it's high risk. So is it risk on, is it risk off? This debate about Bitcoin still being, whether or not it's digital gold, it's going to be an inflation hedge. I think in the long term it will. But I have to ask, what's your perspective on when Bitcoin may flip out of that risk narrative, where it's truly a commodity, where it truly not only trades in its own sort of sector, but also against, counter to, for instance, right now, we see the markets maybe on the cusp of breaking down, especially after the Fed pivots. Is Bitcoin ready to have a true and sustained and continual breaking of correlation with traditional assets? When do you see Bitcoin breaking that correlation and becoming something other than a risk asset, a true store of value? It's this cycle. You get a lot of talks of de -dollarization. There's lots of talks of BRICS, China, Russia, Brazil, India, South America, all coming together and building a system that's an alternative to our current currency in the United States. Now, for that reason, that's because of all the money printing we've been printing the last few years. And inevitably we've been in debting third world countries, second world countries with world bank loans. And what happens when the United States raises their interest rates and force us to not only print more money ourselves to pay back our own interest rates, because next year we're going to be paying back $1 .25 trillion annually just in debts that we owe based off our own interests. It's ridiculous. But people don't realize the impact that has on third world countries and second world countries. These countries are indebted to the United States. They have US debts, US treasuries, right? So when they're holding onto these assets, it's going to force them to print more of their own money just to pay back off the US loans that they owe, right? So, you know, it causes hyperinflation and destabilizes a lot of countries. And for this reason, you've seen a lot of second world countries, third world countries now come into play and starting to do things like in the Middle East, you had, I believe it's pronounced Oman. I could be pronouncing that Middle Eastern country wrong, but this is right on the border of Saudi Arabia. This is in that oil basin area. They're investing $1 .1 billion into converting wasted natural gas and methane emissions and that value with Bitcoin miners. What do I mean by that? Well, this is where the world's greatest commodity comes into play. You see, you know, most of the energy that's created in our world through our fossil fuels. So let's get this out. You know, Greta Thunberg was wrong, okay? You know, we need nuclear. We do need to go towards renewables, but we rely on fossil fuels. That's not going to go away. And the infrastructure that's been built out in the United States and globally, it would take us years, if not decades, to replace the equipment and infrastructure to support new energy. So with that understanding, we have all of this energy being created and you have, and I'm sure you guys have seen it, but oil fields where there's flaring gas emissions and burning off all these oil emissions into our atmosphere. Pure waste, why not harness it? Exactly, and so we're now seeing companies like Crusoe Energy, Clean Spark, and a lot of companies come together through Exxon, ConocoPhillips, even Gazprom, which is going to be one of the largest oil providers in the world out of Russia. They're all converting a lot of that wasted energy into that value with Bitcoin and that can be done anywhere. So for that reason, I think this next cycle, this is the time where we have the Spot ETFs. We've watched BlackRock, JP Morgan, Bank of America, Wells Fargo, everybody manipulate our markets for the last five years. They're calling it a money laundering index. They're saying it's a scam. They're saying it's going to go to zero. Meanwhile, the whole time they're investing on the back end and getting ready to develop what I believe is going to be the next biggest financial product ever, which is a Bitcoin Spot ETF. Joshua, it's been great talking with you. Where can everybody find you? Give us your socials. When are you going to come back? Yeah, so it's Joshua Jake on all socials. I do a lot right now. I just actually sold my personal marketing company, but right now you can find me on TikTok, Twitter, and then of course, YouTube. But YouTube, I'm actually transitioning, guys. It actually looks like I'll be here about every other week on Discover Crypto, hosting your guys' morning show and doing a lot more interviews and content like this with you guys here in Georgia. So stay tuned for some crazy announcements coming out of that. You can also find me on CRU Plus, which is going to be CryptosRS is George's new program. I'm hosting a show called Beyond the Headlines where I go in depth on your macroeconomics. I'd hag on certain presidential candidates and I just talk about the real things that need to be talked about in these markets that do affect crypto. Well, right on. We appreciate you being here and talking and going surface level and going super deep. I hope you all enjoyed that. Make sure you hit the like button, hit the subscribe button, ding the bell, join us here in our community. Positive encouragement, data -driven, trying to bring you the best, the peak and information here in the crypto markets and looking at those broader markets too. Hope you all have a wonderful Saturday. Thank you for being here with us. That's all I got. Adios muchachos. Thanks guys.
Fresh update on "warren buffett" discussed on BTV Simulcast
"That made the bet with Warren Buffett. I get that that might go on my tombstone. There's actually more than one of them. Writing on Star Wars was crazy fun. The voices of experience tell their stories on masters in business. When I got hired in 2013, M &A was dead. I think life and markets are intertwined. Barry Ritholtz hosts Masters in Business. Subscribe today on Apple, I or wherever you get your podcasts. Bloomberg radio context changes everything. Take a not so random walk through hot topics in markets and finance. The case of the counterfeit commodities collateral. The end of zero interest rates. Listen to the Odd Lots podcast with Joe Weisenthal and Tracy Eloway. How does machine learning actually work? Subscribe to Odd Lots today on Apple, Spotify, Bloomberg .com or wherever you get your podcasts. Feels like inflation is fading. Every time we start a podcast saying that, think I we're just jinxing it. Bloomberg radio context changes everything. Come on music playing General Motors has announced its largest ever stock buyback plan worth $10 billion. GM is also reinstating earnings guidance after accounting for costs for its new labor contract. Speaking
A highlight from Sam Bankman-Fried asked FTX's lawyer to explain away stolen funds (feat. Danny Nelson)
"Welcome back everyone, I am Cas PNC. I'm joined as usual by my partner in crime, Mr. Bennett Tomlin. How are you today? I'm doing pretty well. How are you, Cas? I'm doing good. We're joined by a very special guest, Mr. Danny Nelson, reporter for Coindesk. First time guest. It's a pleasure to have you on today, man. How are you? I'm doing well. Great to be here. Danny has been at the courtroom for the SPF trial along with his compatriots, Nick Day, who we had on last week, and Sam Kessler, who we're hoping to have on at some point as well. But yeah, Danny, I would love to hear some of your insights. I know you weren't there for the first day with Nishad, but we can still go over it. We all read the summaries and you have other friends in the courtroom. So yeah, what was the takeaway from Nishad Singh? For Nishad, I mean, he was of course one of the three insiders, one of four insiders along with Sam who really knew what was going on inside FTX, which is to say knew that everything wasn't what it seemed to be. He was on the FTX side of things and the testimony that he brought to the courtroom really had this, from what I heard from my colleagues, this cinematic flair. He was really talented in coloring the scene, like talking about the discussion when everything went to shit. It wasn't just a discussion. It was at night on a balcony. People were talking it through and that kind of stuff makes for really compelling testimony. All those elements started to fall away on day two of his testimony during cross -examination when the defense attorneys, they didn't really discredit him, but they started to poke holes in this picture that he was painting of a guy who maybe sort of knew what was going on, but really felt morally torn by it. I mean, on one hand, he's saying, well, I learned in, let's say early fall, late summer 2022, that there was this hole in that we were using customer funds, but oh, by the way, in October 2022, I used a loan that I took from Alameda FTX to buy a house in Washington state. It was $3 .7 million. So it was like, well, which is it, buddy? Do you feel bad that you're stealing customer money or are you looking forward to your house? Which by the way, we looked into it, has a hot tub. Not that hot tub is any more or less nefarious, but it is actually, I looked at it as it is more nefarious usually. So your point here is that they were discrediting him by him pretending he has empathy and sympathy and cares while his actions were perceived differently? It's little pieces, right? And I mean, I have to say, I'm starting to really think Sam did it. I'm just kidding there. Of course he did it allegedly, but I'm there for the entertainment and for the information and I find myself rooting for the defense. Like the case is pretty cut and dry. I think he's going to get convicted. I still want the defense to put up a good fight. I want them to throw some good punches because it's much more interesting that way. And otherwise you're just sitting in a courtroom all day and you see you want there to, you don't want just the prosecution to be doing well because they are doing well. So the defense, the strategy that they're taking during their cross examinations is just, how do we chip away at people's credibility? Which is a cornerstone of being a good defense lawyer. And for Nishad, one of the ways they were doing that and something they've tried with all of the witnesses is taking statements that the witnesses made to prosecutors in their extensive interviews pre -trial and bringing them up and seeing if their memories match. And for most of the witnesses, the major ones anyway, their memories match up pretty good. For Nishad, there were a whole bunch of moments where he wasn't quite remembering the very specific jarring things he had been telling prosecutors months before. Now that doesn't mean that everything he says is bull. It does, I think, serve the purpose of making the jury think, well, maybe this guy who really had a wonderful, very clear of mind story to tell about how everything went down, well, he remembers it was night on the balcony and like, I don't know, there was a big dipper up or something. He didn't say that part, but it would have been a nice little flare. He remembers all those things really well, but he can't remember this other thing he told prosecutors. So little bits like that made me think, and I think made other people in the courtroom too also think, this guy might be a little too polished in some areas. I have open on my computer right now, an article that you co -wrote with Nick and Sam about this period of the trial where we see kind of the cross examination. And I thought some of the things you highlighted that came up in that cross were particularly funny. Like at one point they were discussing the penthouse apartment at the orchid that they were living in. And apparently what the defense attorney tried to ask was, was this penthouse really that extraordinary for you all? I mean, you were all rich, right? So shouldn't you live in a penthouse? Which I thought was an interesting little detail when you consider the nature and source of their wealth. Did you have thoughts on that particular moment? Before I get to Deshad's response, I will go back to Yedidiah out of Yedidiah. He worked at FTX. I don't think he knew of things going the way they went until they went to shit, which is I don't think he knowingly committed crimes, unlike some of the people that are appearing in the courtroom. Yedidiah was asked to compare the co -living $30 million apartment to a dorm room. He was like, it was just like a dorm room, but more luxurious, which was quite a telling line for Neshad. I mean, I think it's kind of a fair point, like the, oh, we actually use our customer funds to buy this thing. Notwithstanding if you think you have a billion dollars, you probably shouldn't be living in a like ranch home. Now Warren Buffett still lives at a ranch home. So maybe that's not true, but most of the billionaires don't. They live in big, big, big places. His response, which was basically, I don't know billionaires. I don't really know what's right and what's wrong. I don't know. I don't know about that. Cause he also lives in, by his words, the nicest room in the house. So he just got a lot of mixed messaging from that guy. Well, and at a fundamental level, in a very real sense, none of them were billionaires. I mean, they were on a certain sense in paper that that all depended on a certain fiction being maintained. Exactly that they, even if the money wasn't stolen, they were at best paper billionaires. They did not have the liquid capital. And of course there weren't even actual billionaires in that respect because it wasn't their money. I guess this was the first time anyone has seen the defense kind of wake up. I've been mentioning Liz a lot. She wrote an article entitled, Sam Bankman -Fried's defense finally woke up in The Verge and seemed like even Joe Bankman and Barbara Fried seemed to kind of agree or like at least their outward emotions were that they were pleased with this cross -examination. But the week didn't end with Nishad Singh, right? I mean, we had more witnesses after this. Can you clue me into some of the other witnesses? Probably the best witness of the week was the expert witness, Peter Easton. He is an accounting professor at Notre Dame. He's served as an editor of many of the top accounting journals. I'm going to have to take his word for it because I don't read the accounting journals. And he came out guns blazing with really, really telling charts that illustrated where the money was coming from. Let's say we have the customer funds and the way that we now understand FTX to have been set up was if you wanted to get your money into FTX, your cash, like your dollars, you wired those dollars to a bank account called North Dimension or some smaller accounts, but mostly North Dimension. And they were controlled, the beneficiary of Alameda. And then once your money's in there, you have access on the FTX side to use that money. But the money never actually always completed the transfer from North Dimension to FTX. Instead, they just did some really bad bookkeeping. And the results of this setup was they could then take the money out of those bank accounts and move them, move that money into all the other different things that they were really spending the money on, like real estate, political donations, the charities, like Gardner Capital, specifically half a billion dollars to Anthropic. I don't even remember what point of the trial this was, but there was this whole argument in court about, well, look, they made this bet on Anthropic and it did well. And so he was using the money responsibly. But then Judge Kaplan said, look, if I robbed the Federal Reserve and I take a million dollars and I buy a lot of Powerball tickets and one of them hits, well, I still robbed the bank. You can't say, well, everyone got their money back because the stolen money was used in a way that made more money. No, that's not valid. So, yes, they did. They did. They got lucky with their ill -gotten gains on Anthropic.
A highlight from Through the Lens of An Optimist
"Welcome to Wealthy Behavior, talking money and wealth with Heritage Financial, the podcast that digs into the topics, strategies and behaviors that help busy and successful people build and protect their personal wealth. I'm your host, Sammy Azuz, the president and CEO of Heritage Financial, a Boston based wealth management firm working with high net worth families across the country for longer than 25 years. Now let's talk about the wealthy behaviors that are key to a rich life. On this episode of the Wealthy Behavior podcast, we have a very special guest, Sam Rowe, founder and editor at Ticker, one of my absolute favorite finance newsletters. Sam has been writing about the markets and economy for 17 years through widely circulated newsletters for Forbes, Business Insider, Yahoo Finance and Axios, and two years ago started Ticker where he writes about the markets his way, which we'll get into today. I think you're going to learn a lot and it'll be a great conversation. So welcome to Wealthy Behavior, Sam. Thanks for having me. Yeah. One of the main reasons I love reading your stuff is that you have a clear view of what you want to say backed by data. How did your career get you to this point? That's a great question. I mean, I can almost go as far back as before I even got into financial media. For me, it was just a matter of trying to understand how people actually made money in the stock market. My initial exposure was seeing traders making gajillions of dollars with these extremely short -term trades. And when you dabble in the market, it's very easy to lose a lot of money very quickly. And so I didn't really quite understand what this was all about. And then as I read more about the market, I learned about diversification and and volatility how things trend in the long term versus the short term. And you start reading up on Warren Buffett and Jack Bogle and all those good things. And then you start to understand that you can talk about the markets and you can talk about news and developments and data in two kinds of ways. You can talk about it in the very present kind of way in terms of how information might move markets in a given day. Or you can try to put it into a bigger picture context and try to make sense of it for someone who might be saving for retirement, which could be many years off. So that's how my approach to writing and reporting on markets developed. And during my time, especially at Business Insider and Yahoo Finance, I got quite a bit of feedback. And my team would get lots of feedback from readers who sort of appreciated the way we provided context and framed stories, news stories for the readers. And often sometimes they would get a little confused because when you work at a big media company, you're publishing tons and tons of stuff. I mean, even today, you'll see 50 different headlines that are very concerning. And they should maybe they should be concerning. But a lot of times news is not tailored for the long term investor necessarily. And so I took that feedback and recognized that there might be a little bit of a vacuum for that kind of audience that's looking for a news experience, but with sort of a long term mindset. And so we have ticker. You have ticker. That's awesome. How about right now or just I guess in general? Just in general, I saw something on your site. You're the chief evangelist of how the stock market usually goes up. You're an optimist long term and cautious optimism short term. Sure. Yeah. I think generally speaking, I think investing in the stock market is an optimist game and it's something that requires patience and it requires time. I mean, just like with anything else, like whether you're exercising to get into shape or dieting to lose weight or getting educated to be smarter at something, you're going to have your ups and downs. But if you stick to a plan and you stick to it, things seem to move your way. And I think especially with the stock market, I'm sort of classically trained as a fundamental analyst. I went through the CFA program and in my early jobs at Forbes, I was doing analysis on individual companies. And in all of those learnings, the one thing that continues to stand out is earnings tend to trend higher. And when earnings trend higher, I believe earnings are the most important long term driver of stock prices. If earnings are trending higher, stocks are going to trend higher. And I think there's really good fundamental argument to be made to back all that. Us, the consuming class, individuals, families, whatever. I think generally speaking, people like their goods and services to be better. I think generally speaking, whether you like it or not, whether you like the concept or not, I think generally speaking, people would rather have more stuff than less stuff. A couple extra square footage in your house or being able to take a slightly nicer vacation or being able to have better food or being able to have better Internet connection, whatever it is. And in that process, those are the things driving how capitalism works in a well functioning free market economy. And so because there's just always going to be a constant demand for better goods and services, whether it's an established business or a large corporation or if it's an entrepreneur, they'll go out and pursue a way to meet those demands and try to offer something that's either differentiated or better than what's already out there. And as a result, the economy gets bigger, earnings grow and stock prices go up. The world wants growth, right? The world wants growth. Whether they recognize it or not, everyone wants something that's a little bit better. And it just so happens to be the case that that desire or that need fuels growth. I think that's one of the things the pessimists miss coming out of the great financial crisis. And there was a lot of things wrong, but policymakers, business leaders, individuals, they want things to get better. They want growth and they're going to throw things against the wall to get that. Yeah, absolutely. And I think another thing that the pessimists often get wrong sort of fundamentally is a lot of times they operate based off of snapshots in data. Like if you look at, I mean, in any given point, there may be a time when consumer debt delinquencies are very high, or it looks like maybe there are businesses that are over levered or there is an earnings downturn or something that's happening. And when you think of things in terms of snapshots in time, then yeah, things may look dire. But the thing is the economy is going to look very different, even at the end of this discussion, than it was at the beginning of this discussion. And so sure, you can be kind of pessimistic or bearish about the state of things at any given time. But I think it was Keynes, whether he was like misattributed or not, but it's the old saying of the markets will be irrational longer than you can stay solvent, right? Maybe today things aren't looking great, but if you are investing or trading in the market and if you do have the ability to put in some time, then history tells us that no matter how bad things are, we all seem to figure out how to move past it because we all have the same we all have the same goals or intentions in mind and that we like things to be fixed. And on the other end of even the most difficult times, things tend to be a lot better than they were before any sort of challenging moment of adversity. Yeah, absolutely. One of the cornerstone pieces on ticker that you have is 10 truths about the stock market, which I think is a message in that piece. The core message is that the market is complicated. Because if it were if it really were that simple, it would be one truth. And it might have been just that first bullet that I have there. So you know, the first bullet is the long game is undefeated. And I quote an op -ed that Warren Buffett wrote in October of 2008, when things were really spiraling during the financial crisis. And, you know, it wasn't until six months later that the market actually bought him. But in Buffett's op -ed in October of 2008, you know, he goes back into 100 years of US history, and he lists all the things, everything from, you know, World War One and World War Two to, you know, the assassination of a president, or the president gets impeached and resigns. All kinds, I mean, even the financial, like in retrospect, you know, you look at the financial crisis. And even today, you know, we look at where we were three years ago with the onset of the pandemic, and where the economy is today. You know, his message is that, you know, there is empirical evidence to show that, you know, there is a long track record of the markets, at least, for the long -term investor, that there's a lot of evidence saying that, you know, we figure out ways to get out of things. And so that's sort of the overarching concept. But the second truth, and I won't go through all ten of them, but I do think that the first two matter. The first one being that, you know, this long game is undefeated. And two is, you can get smoked in the short term. I think it's incredibly important for even, you know, people who are bullish and optimistic to really be cognizant of the fact that markets will be incredibly volatile in short -term periods. You know, on average, the market will see, the S &P 500 at least, sees an average max drawdown in a given year of about 14 percent. And in a given year, you'll see on average three drawdowns of five percent or more. I mean, like we're currently in a drawdown of about, or we had been in a drawdown of about seven or eight percent, which is not only is it pretty typical, but it's probably even milder than average. But in the moment, you know, it's incredibly stressful and incredibly, you know, worrisome and unsettling. And it might tempt us to sell. But I think if you do recognize the history that, you know, market volatility is normal, you know, part of that understanding is knowing that even in years when the market is up, you do have that kind of volatility. That's not to downplay the concerns and the risks that are out there. But, you know, I do think it's important to be able to acknowledge that and recognize and accept that, you know, volatility is part of investing. Why did you feel like you had to write that piece? What is it that individual investors aren't seeing in these truths? You know, it's funny, like, I think, you know, before I actually launched Ticker, so that was actually the first piece that went out. Before I launched Ticker, you know, I was talking to an old editor, a colleague of mine that I was working with. And, you know, he was telling me that, you know, you can't just announce the launch of a newsletter but not have any content to have published. You know, you have to have something out there. And so we kicked around a couple of things. And, you know, there was a piece I wrote, it was actually the last piece I wrote at Business Insider where I actually had, you know, a slide show of all these charts showing, you know, how markets function over long -term periods of time. So I felt this important because, you know, as someone who entered this industry with very little understanding of how investing in markets worked, you know, the one thing I did know coming into this was that the stock market will, on average, return somewhere between 8 -10 % a year. And if that's the only thing you know, then everything you see in the news will conflict with that and it becomes incredibly confusing. So it was important for me to be able to outline things like, you know, markets are volatile in short term. Another one of the truths is average rarely happens. While the long -term average annual return is 8 -10%, there are actually very few instances in history where you'll get an annual return of 8 -10%. It's usually, you know, a much larger number and then every once in a while you have very poor years and then it evens out to that. And then, you know, for folks who are a little bit more advanced, who are following things like valuation metrics, like PE ratios, I have a truth about that where valuation metrics tell you very little about where the market is going to go in the short run. And so, you know, this idea that if you do have a little bit of sophistication when it comes to investing, you don't, you know how to calculate a PE ratio or something. While you can make a case that the stock market is expensive or cheap, just because the stock market is expensive doesn't mean it's going to move to some sort of average, you know, over a very short period of time. So, I wanted to sort of have like at least a sort of a quick outline of how to think about, you know, investing so that, you know, people understand that there's going to be a lot of things that they confront that seems very counterintuitive. I particularly like number eight, the most destabilizing risks are the ones people aren't talking about, which is important to investors who see negative results all the time and worry that their portfolios will be impacted. Can you touch on that one just a little bit? Yeah, sure. You know, I think I first really started thinking about that one probably in, you know, around 2008, I think. So 2008, you know, I was still at Forbes. I was writing up stock picks for an investment newsletter and I was contributing to a column on Forbes .com and that actually overlapped with me studying for the CFA program. And, you know, one thing that you, you know, when you really spend a lot of time training in the financial services business or any kind of finance, you know, you get exposed to a lot of Excel spreadsheets and financial modeling and statistics, you know, a lot of things that happen in the world happens very gradually, except when you have these sort of, you know, major destabilizing events that seemingly come out of nowhere, you know, these so -called black swan type of events, right? What happens is no matter how much you're willing to tweak a financial model with these new developments, most financial models are not really capable of dealing with stuff like, you know, every but like 50 percent of the economy cannot shop tomorrow because the economy has been shut down. That stuff just does not work and no one's prepared for that. So I think the main distinction, you know, especially with that rule is like, for instance, you know, we've been talking about an inverted yield curve for, you know, many months now. We've been talking about instability, you know, a couple of, you know, many, many months now. We're talking about stuff like, you know, debt to GDP ratios and, you know, any number of risks that we talk about over and over and over again. The market has a tendency to price these in the form of some kind of uncertainty premium, right? These risks that we talk about every day on a prolonged basis, you know, essentially are the reason why returns in the stock market tend to be, you know, kind of high because you're taking on risk. But what doesn't get priced in is, you know, it's February of 2020, everything's going right. And then, you know, in a week we learn about a pandemic and we don't really quite learn about the scale for a couple of weeks, at which point, you know, you're dealing with something in March of 2020 that no one was talking about in February 2020. And so all that information has to be priced in very quickly at a very short period of time and then you see a big sell -off.
A highlight from MONEY REIMAGINED: Breaking Down Barriers to Crypto Adoption | Insights from Jan Van Eck and Matt Hougan
"You're listening to Coindesk's Money Reimagined with Michael Casey and Sheila Warren. Hello and welcome to another edition of Money Reimagined. I'm Michael Casey. Listen to us weekly on the Coindesk podcast network or wherever you get your podcasts. We would love to hear from coindesk .com. Subject line Money Reimagined. Sheila is out this week so it's me on my own but what I'm bringing to you are recordings from an interview I did earlier this month with two leaders in fund management, both of whom have significant interests in crypto. One is Jan Van Eck, the CEO of Van Eck funds and the other is Matt Hogan, chief investment officer at Bitwise Asset Management. Van Eck and Bitwise have both filed applications with for Bitcoin. The question I wanted to put to you guys, and I'll go to you first, Jan, is I've been covering this space for 10 years now. And I think we all thought there may be some tipping point moment when the world would suddenly embrace this. And certainly there's been some incredible growth, both in terms of prices and activity and development, phenomenal growth. But at the same time, it always feels like, no, it's not yet there. So what is the single most important barrier that you see toward wider adoption of crypto? Sure. Thank you. I really break it down into, are you talking about crypto as an investment, as an asset class that should be in people's portfolios, or as a technology to be adopted? And I use this example of the relational database, which was a big breakthrough in the architecture of databases 50 years ago or more. And it created a lot more productivity, almost like AI is doing with technology today. But who cares? It wasn't investable, right? It was a nice technology, but it wasn't investable. So I'll start with the investable aspect of it. And I think that since 2017, I firmly believe that Bitcoin is a store of value alternative to gold. But I also say it's sort of like an eight -year -old child. It's going through evolution and adoption, even this year, with the ordinals kind of break through for a while and sort of transaction fees being a thing in Bitcoin, right? It's evolving, it's code, it's kind of living. And I think there's a lot of investor types that haven't adopted it yet. And that's what I see kind of going forward in the future, whether it's probably frontier countries adopting it more, maybe even formally through their central banks or something like that. I think that's foreseeable. I don't see the German central bank or the central bank buying it anytime soon, but it's possible. One of my colleagues pointed out, I think you all did a survey of, sorry, this is a long answer, but yeah, Coindesk did a survey, I think, of perceptions globally of crypto and there was a big break between EM and I guess specifically it was energy usage. It being friendlier for energy usage was the majority view in the emerging markets and in the developed markets, it wasn't that, it was the opposite. So anyway, I see Bitcoin as kind of going through cycles and gradually getting more investor adoption, the ETF aside. So let me stop there and give it to my colleague, Matt. Thanks John. I agree. And I like that separation of investment case versus sort of maybe real world utility. I would add on the investment case, I think it's already there. I agree. It's a digital alternative to gold. And so the people who are holding it are using it for its use case. And I think the barrier to mainstream adoption really is the ETF. I know we'll talk about that more later, but I think if you look back at gold, it was the ETF that brought it into the mainstream. There were a few gold funds before the ETF. Van Eck ran one of the longest running, maybe the longest running, a phenomenal fund, but it really wasn't mainstream until we had an ETF. And I think that will be the tipping point. On real world use cases, if you look at like the Ethereum ecosystem, I actually think we surmounted one of the major hurdles over the last two years. I think what stopped the NFT boom and the DeFi boom was actually the rise in transaction costs as much as anything else. I think there was not enough throughput in that ecosystem to allow it to go mainstream. And I think the development of layer twos have allowed it. I think that's necessary, but not sufficient. So there's still additional barriers, there are regulatory barriers, there are design use case barriers, but I actually think that throughput question was the biggest one and we surmounted it. We just haven't seen the fruits of it because of these other steps that we need to take as well. Okay. So there's actually both of those answers, some things I want to dive into a little bit here. The first one is like this idea of it being gold. And I think in a way, I think maybe you can read from it slightly differently because Jan, you're talking, this is what its use case is, but there is still some evolution in a way that Bitcoin needs to go into. What I think is fascinating about that is like, okay, gold isn't going to evolve. It is just gold. It's in the ground, right? But there is this Bitcoin is code, but it's also a community. It's a living, breathing ecosystem of human beings, which makes it sort of unique. And so therefore, like, you know, how it evolves into being recognized for being the status. Is there an educational component to this, for example? Like, is it important that people kind of get in their heads? We can all use the digital gold analogy, but even getting there requires an understanding about why this actually does do that. Well, let me, this is Jan. I am going to pick a fight with you on the gold side because the use of gold as an investment has changed dramatically over the last 100 years. So even if you look at the history of our company, VanEck, the reason we started our first gold fund as a gold mining fund is it was illegal to own gold in 1968. So you see both Bitcoin and gold being affected not just sort of by securities regulation, but much bigger political, debates. even geopolitical But if you go back to before FDR, right, gold was the underpinning of central banks globally with the idea of trying to reduce currency volatility so that there would be more global trade and global wealth. But then they moved to basically away from the gold system. FDR did when he wanted to spend more money during World War II. Anyway, so, you know, gold has been in and out. And now more recently, central banks around the central banks because they don't trust the U .S. to hold their dollars anymore. Okay, so maybe that's a little historical quibble, but I do think that the role changes and I think it will change with Bitcoin going forward as well, just sticking to Bitcoin. It still sounds to me as if that is a discussion about the external factors, right, i .e., regulatory models, whatever, where governments stand. And all of that is maybe what the composition of what gold is and what a secure, uncorrelated investment needs to be is all contingent upon what is actually happening in that geopolitical circle. So in some respects, Matt, it gets back to your point about like, we're still sitting here waiting for the regulators to make a decision about an ETF or whatever. Yeah, I do think we are. I wanna hit one more thing on the gold thing and then I'll get to that because I think it's really important. There is this perception that gold has been the same for 5 ,000 years, completely wrong. Most people's perceptions about gold are untrue. We went off the gold standard in the early 1970s and people didn't know what gold was, right? They were figuring out what its role in the world was. Coincidentally, or maybe not coincidentally, that was the single best decade to be invested in gold. That was a phenomenal time. When stores of value move from uncertainty to established is when they accrue a lot of value. And that's what's happening in Bitcoin. I think there's some direct analogies to gold. I'd also add gold is a lot more volatile than people give it credit for. People think of it as this steady eddy. It has big swings up and down 20, 30 % a year. A store of value doesn't have to be day to day, unvolatile to be useful. It has to hold value or accrue value over long periods of time. And I think people discredit Bitcoin because they misunderstand gold a little bit. Just to add a comment on Bitcoin before we get off of that, gold shares, to your point, like Bitcoin miners fell 90 % from 2011 to their lows in 2016. I mean, you don't get worse than that, right, in terms of volatility. And that's a part of the ecosystem. It's not bullion, but still, I completely agree with you. So I just wanted to add that. I do think also, and I really want to push you, Matt, on this, that we have a global view of regulation of Bitcoin, right, because China has really taken its foot off the brake over the last year. And I think that's, you know, I call it the country the size of the United States. I think that's super important. Yeah, I think that's really important, too. I actually agree. And I think that's been going on for the last decade. It's sort of like a blanket that won't cover the whole world. And when somebody pulls it, then another government's like, oh, maybe we have an opportunity. I think that's what we saw in China with the U .S. being more restrictive, and then Hong Kong saying, well, what if we aggressively banked gold? Maybe there's an economic opportunity there. And I think it's sort of anti -fragile in that sense. Can I just punch down, maybe we're going to move to the technology side, but I just want to punch down on Bitcoin, because I think it, as an investment, is potentially relevant to everyone's portfolios here at this conference. I mean, you may not like, there are investors like Warren Buffett that will never invest in gold and would never invest in Bitcoin. But for a lot of people, the biggest risk out there, I would say, macro risk, is U .S. federal budget deficit. And I don't know of a better hedge than gold or Bitcoin. So maybe that risk doesn't come to fruition in our lifetimes, but it has got to be an alternative that people think of regardless of everything else in crypto. Yeah. Jan and I are going to keep going back and forth. I would add, it doesn't have to come to fruition for gold to be a good, for Bitcoin to be a good investment. It's an insurance against that potentiality. And if you're a wealthy individual, that's one of the biggest risks to your long term wealth and holding that insurance policy regardless of the outlook. Last thing I would add is we've come a long way. The other mistake people make when looking at Bitcoin regulation is like evaluating us today versus a year ago. If you evaluate us today versus 10 years ago, massive progress, even today versus five years ago. Look at the conversation in Congress today around crypto versus where it was two or three years ago. People need to relax a little, take the long view, and they'll probably have a better outlook for their long term investment.
A highlight from 1406: Bitcoin Will Hit $4 Million, Rising 100x - Peter Thiel
"In today's show, we'll be discussing Bitcoin Bollinger Bands hitting a key zone as Bitcoin price fights for $27 ,000. In breaking news just in, Bitcoin hash rate hits a new all -time high. Let's go. And quoting Stacey Herbert, Bitcoin is pumping on the news of President Bukele's speech to the UN tonight. Can't wait. We'll also be discussing Bitcoin Adoption Fund launched by Japan's $500 billion Nomura Bank. That's right. The Bitcoin Adoption Fund will have long -only exposure to Bitcoin and be available to institutional investors. We'll also be sharing Sam Bankman, Fried's father, dragged his mother into an FTX US salary dispute. You can't make this stuff up, folks. Also in today's show, Bitcoin gearing up for a post -having parabola, according to crypto analysts. I'll be sharing his very bullish all -time high target. We'll also be discussing crypto asset market cap should explode 5 to 10x during the next bull cycle, according to investor Raoul Pal. I'll also be sharing Peter Thiel's $4 million Bitcoin price prediction, and we'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again, that's cryptonewsalerts .net. Welcome everyone just joining us. This is pod episode number 1406. I'm your host JV. And today is September 19th, 2023. We have lots to cover as usual. Massive shout out to everyone today in the live chat. Please let me know where you're tuning in from. And at the end of the show, I'm going to be reading everyone's comments out loud. Let's kick off today's show with our market watch as we do each and every day, the entire crypto market back in the green with Bitcoin back above $27 ,100 and checking out coinmarketcap .com, the current crypto market cap on the climb at $1 .08 trillion with roughly $27 billion in volume for the past 24 hours, Bitcoin dominance at 49 .2 % and the Ether dominance at 18 .4%. And checking out the top 100 crypto gainers of the past 24 hours, we have TonCoin leading the pack up 5%, trading at $2 .57, followed by GMX up about 5%, trading just under 36 bucks, followed by Conflux up 4%, trading at $0 .12. And checking out the top 100 crypto gainers of the past week, virtually 95 out of the top 100 cryptos are in the green. Some of the top gainers include GMX, GRT, as well as CRV and NEO. And checking out the crypto greed and fear index, we're currently rated at 46 in fear, same as 37 in fear. So there you have it. How many of you are pretty stoked for this most recent pump? And how many of you agree with Stacey Herbert that this pump is due to Bukele's speech scheduled for this evening? Let me know, fam. And now let's dive into today's Bitcoin technical analysis. Check out the charts and what's popping with the king crypto. Bitcoin could see fresh upside volatility as the price action and the strength revisits a key level according to a classic metric. In a new post, John Bollinger, creator of the Bollinger Bands volatility indicator, says Bitcoin was positioned for a breakout decision. That's right. After hitting new September highs the day prior, Bitcoin has been challenging resistance levels out of reach since mid -August, according to data from Cointelegraph and TradingView. Now for Bollinger, the signs for Bitcoin are encouraging. Bollinger Bands use a standard deviation around the simple moving average to determine both the likely price ranges and volatility. And as Michael Saylor once said, volatility equals life force. Now, currently Bitcoin is putting in daily candles that touch the upper band. And when this happens, it can signal an imminent reversal back to the center band, or conversely, an inbound fit of upside volatility. Now narrow Bollinger Bands seen on Bitcoin recently lend weight to hopes that the latter scenario will now play out, quitting him here. And then there is the first tag of the upper Bollinger Band. After the new set of controlling bars were established at the lower band, he commented alongside this chart, the question is now, can we walk up to the upper band or is it too early to answer? What are your thoughts, chat? Let me know in the comments below. Now Bollinger characterizes the current mood among seasoned Bitcoin traders and analysts on the short -term timeframes. Despite the strength seen this week, caution abounds as various trend lines previously acting as support remain above the spot price. Now discussing the situation, we had on -chain monitoring resource, material indicators share the following. We have heavy technical resistance overhead at the key moving averages and support at the lower low. It is quite possible that we round trip the range. And with any luck, we'll see a legit test of the RS levels that will give us some clarity on where Bitcoin goes from here before the end of the week. And they also shared here in update number two, as noted earlier, it appears the Bitcoin bulls are gaining some momentum, but things are not always as they seem and goes on to share that sometime after last night's candle and close open, we've seen a new trend precognition signal develop on the daily chart and it seems to be bullish. I mean, we are breaking out. We are above 27 ,000. So let's freaking go. And also more strong foundation on the technicals. You can see Bitcoin hits yet another all -time high, which virtually means the network has never been this strong and this secure. Now I'm pretty stoked to tune into President Bukele's speech to the UN this evening. What do you think he has to share besides? I told you so. Let me know, fam. And again, welcome to everyone just joining us for the live show. Lots to continue to cover. So let's continue breaking it down. Next, let's discuss this adoption fund, which is a pretty big deal coming out of Japan. Let's go check this out. Japan's largest investment bank, Numura's digital asset subsidiary, Laser Digital Asset Management, launched the Bitcoin adoption fund specifically for the institutional investors. Bring it. The official announcement noted the Bitcoin -based fund will be the first in a range of digital adoption investment solutions that the firm plans to introduce. Now Numura is a Japanese financial giant with over $500 billion worth of assets, which basically that's half a trillion, baby, offers brokerage services to leading institutional investors. The Bitcoin fund launched by its digital asset arm will now offer investors direct exposure to BTC. The Laser Digital Bitcoin Adoption Fund offers long key exposure to Bitcoin. The financial giant has chosen Kamanu as its regulated custody partner. The Bitcoin fund is a portion of Laser Digital Fund's segregated portfolio company that has been registered as a mutual fund in accordance with the Cayman Islands regulatory authority. Now, Laser Digital Asset Management head Sebastian said the Bitcoin is one of the enablers of this long -lasting transformational change and long -term exposure to Bitcoin offers a solution for the investors to capture this macro trend. Now, the Bitcoin adoption fund might be the first of its kind launched by Numura and the digital asset arm, but the Japanese investment banking giant has been investing in the digital asset ecosystem for quite some time already. In fact, September of last year, the firm launched its digital asset venture capital arm to stay at the forefront of digital innovation. And also won Dubai's virtual asset regulatory authority license to operate in the country. The long -only Bitcoin adoption fund for investors in Japan comes amid a growing discussion around Bitcoin -based investment products from regulated and mainstream financial giants. The United States SEC approved two Bitcoin ETFs, even though there is a delayed decision specifically on the spot. Bitcoin ETFs. What's up with that, Mr. Gensler? Just saying. And apart from the US, Canada and focused investment products over the past couple of years. So there you have it, mass adoption, let's freaking go, especially on the institutional level. How many of you are in Japan? I know we have some in our audience out there. Let me know. And have you ever heard of this company before? Any plans in investing through them? Let me know how you guys feel. And now let's break down the latest. It gets more surprising and shocking every day with what all is going on with Bankman -Fried and FTX. Now his parents are involved. His parents are being sued by FTX. And it's just a nightmare of a mess, to say the least. So let's break down this latest story regarding SBF. Now, Joseph Bankman, the father of the former FTX CEO, Sam Bankman -Fried, complained to his son about the salary he was receiving during his employment at FTX US, turning the issue into a family matter. In a September 18 filing with the US Bankruptcy Court for the District of Delaware, FTX debtors filed a complaint against Bankman and Barbara Fried, alleging that SBF's parents misappropriated millions of dollars through their involvement in the exchange's business. And according to the court documents, Bankman's contract with FTX US should have provided a $200 ,000 annual salary following a leave of absence from the Stanford Law School in December 2021. However, Bankman seemed to express ignorance about the terms of the contract, claiming to both FTX US and his son that he was expecting a $1 million annual salary. What about all that property in the Bahamas, fam? What about all that? Hundreds of millions worth of properties? Just wanted to throw that out there. The complaint states that Bankman was putting Barbara on this, suggesting that SBF's mother may have been able to persuade her son to follow through with the salary change. Things get even more interesting. So according to the complaint, Bankman's influence paid off, with SBF later providing his parents $10 million from Alameda Research. Can you talk about commingling? A 16 .4 million property in the Bahamas, funded by FTX Trading, the ability to expense roughly $90 ,000 to FTX Trading on the island nation in the Bahamas, and options to purchase company stock. Now, when reached out to the legal team representing Bankman and Fried, but did not receive a response at the time, unfortunately, the legal action brought by the debtors was the latest in the bankruptcy case involving FTX and many of its subsidiaries filed in November of last year. Bankman Fried also faces 12 criminal charges to be spread across two trials, starting in October of 2023, which is right around the corner, fam, and March of 2024, right before the halving, scheduled for April of next year. And since the federal judge revoked his bail in August, Bankman Fried has been largely confined to the Metropolitan Detention Center in Brooklyn. Where's Brooklyn at? Before the start of his October trial, then on September 19th, a three -judge panel heard an appeal from SPF's legal team requesting the former FTX CEO to be released from jail in order to prepare for the trial, citing the lack of internet access and first amendment issues. All I got to say is this, I mean, how many people realistically have access to the internet in jail? Why should he? Million dollar question right there. But what are your thoughts, fam? How do you think this is likely to play out? And do you think that Bankman Fried's parents are just as guilty as SPF himself with the commingling and the fraud of going up north of $30 billion, making it the biggest scam in history that we're aware of? Hence why we call him Mini Madoff, because he made off with billions of dollars worth of investors' money, and Gary Gensler and the SEC was protecting him behind closed doors. So it's going to be very interesting to see how all this is likely to play out. Now let's discuss post halving. We all know there is a halving scheduled roughly six months out. We all know post halving, the price action is most likely going to reach a new all -time high and enter price discovery mode. Well, this analyst shares a very intriguing target. So let's break this down, shall we? And welcome to y 'all just joining us. Say hello in that live chat. Let me know where you're tuning in from. I stream live here seven days a week from Puerto Rico. Synonymous analyst Rhett Capital tells his followers on X that Bitcoin can rally above $80 per ,000 coin in the months following next month's event. For the halving, send it. Let's go. The Bitcoin halving cuts the Bitcoin miners' rewards in half, as we all know, expected to take place in April of next year. And while Rhett Capital is a long -term bull on Bitcoin, he notes that it is possible for Bitcoin to continue its downtrend before the halving, putting him here. Hang in there and make the most of any deeper downside in this pre halving period. You won't see the post halving parabola in the outlines here in this chart. It shows you in the yellow, the pre halving period, then in the pink, the post halving resistance, and then in the green, you can see the post halving parabola when we hit those new all -time highs. Now, Rhett notes that Bitcoin may repeat its 2019 bear market cycle when it traded within a triangle pattern before breaking out and starting off the bull market, as he shares here, if Bitcoin continues to form lower highs, could Bitcoin fill the CME, which is the Chicago Mercantile Exchange gap, at $20 ,000 later this year or in early 2024? So it makes a good point. There is currently a gap sitting at that $20 ,000 psychological level. And he continues, if so, the possible path could be consolidation to the apex of the black triangle before finally breaking out to close the halving. And you can see that triangle right here in this chart. Now, looking at the chart, he seemed to suggest that Bitcoin will confirm the triangle breakout in April of 2024, followed by a rally towards his long -term target. Now, let me know your thoughts, chat. How many of you agree that Bitcoin is likely to break out to a new all -time high, entering price discovery mode in 2024, the year of the halving? Let me know. And what are some of your targets? I'd also like to point out that the Stock the Flow model and Plan B, creator of that model, he suggests a $100 to $1 million range price for the King Crypto post halving. We also have some very other bullish predictions, which I cover on a daily basis here on the channel. But I'd love to know your personal prediction. I think we reached the cycle peak personally sometime in 2025, but I think 2024, we enter that price discovery mode. But I'd love to know your thoughts and your opinions in the comments right down below. And now let's break down our next story of the day and discuss the latest from the macro guru, Raoul Pal, who is suggesting that the Bitcoin market cap and crypto market cap as a whole does something between 5 and 10x for this upcoming bull cycle. Now, you do the math. We have a crypto market cap right now. I'm going to ballpark it at a trillion. We have a Bitcoin market cap. I'm going to ballpark it at a half a trillion, which is 500 billion. So hypothetically, if we were to 10x Bitcoin in and of itself, we're talking about a 5 trillion dollar Bitcoin market cap, which would be half the current market cap of gold. Now, with the entire crypto market cap, we can potentially hit 10 trillion. Now, also note, back in November of 2021, when we hit that all time high of 69 ,000 in November of last year, the total crypto market cap was just north of that 3 trillion dollar market cap. So he's so let's break this down and shout out to Raoul Pal. Here we go. Former Goldman Sachs executive Raoul Pal says the next bull cycle can bring an explosion in the market cap of all of the digital assets. That's right. In a new interview with Altcoin Daily, the macro expert says he expects a huge increase in the adoption of digital assets, and that can cause the total market cap of crypto to skyrocket as much as 900 % from its current value during the next bull market. Quoting the analysts here, obviously, I think we'll go well through new all time highs. I think the whole ecosystem of crypto will go from 425 million users where we're at today. And I think at the end of this cycle, there'll be a billion users by that kind of use cases in which we have talked about. And let's not forget, we have got central bank digital currencies that are known as CBDCs and stable coins. There is a lot going on still. So if this entire space is going to grow 2 .5 X in the number of users, well, the market cap of the entire space is five or 10 X. Send it. Let's go. Pal also says he is closely watching development of layer two Altcoin projects for new use cases, which could boost the value of their individual market cap, quitting him again. And then let's see how people value layer twos in this. We don't really know how layer twos accrue much value. Do we have to have a massive amount of transactions in which case then you need stuff like Ticketmaster with millions and millions and millions of transactions to drive value to those chains because they batched them and batched them down to Ethereum. So there you have it. And to watch this interview, he did Raul Pal, the macro guru with Altcoin Daily entitled best cryptocurrency investing strategy into 2024. Check the show notes, blow the video in the description and let me know your thoughts on his personal prediction. Do you feel post having that the market cap for the entire crypto market can likely 10 X from the current valuation along with Bitcoin surging 10 X to roughly a five trillion market cap? And hypothetically, if the macro guru is correct, where do you think that would likely take the Bitcoin price? Well, let's run some hypothetical math. Bitcoin was the 10 X from the current price action of 27 ,000. Well, that's $270 ,000 per coin. Take that. And as we all know, Bitcoin rises like that, the entire crypto market cap would go along for the ride, including the altcoin. So please let me know in the chat, fam, which altcoins, if any, are you most bullish on in the crypto market? And what are your thoughts surrounding Raul Pal being so bullish on Solana? A few months back, I read in an interview he shared that 80 % or more of his portfolio was specifically in an altcoin called Solana. So I'd love to know your thoughts. Obviously, he has a high risk tolerance as I look at that particular cryptocurrency to be very risky, especially with all that went in with the venture capitalists and SPF and FTX exchange pumping that particular all. So I'd love to know how you feel regarding all of that. And with that being shared, fam, now let's discuss Peter Thiel and his $4 million price prediction, as well as rumor has it, and I'll be covering this as well, that he dumps most of his Bitcoin position at the top of the market practically 30 days before the crash. So let's break this down because Peter Thiel was actually one of the keynote speakers at the Miami Conference for Bitcoin. And here's what he had to share as I transcribed his speech, and then we'll discuss him reportedly making $1 .8 billion cashing out on his eight -year bet around the time he was touting these all -time high predictions. So here we go. He says, the enemy's list is a list of people who I think are stopping Bitcoin. He says there is a lot of them. They tend to have nameless, faceless bureaucratic perspectives, which of course is one of the ways they hide. He goes on to share, we are going to try to expose them and realize that this is sort of what we have to fight for Bitcoin to go up, 10x or 100x from here. Now, just FYI, to give you some perspective, at the time he made this prediction on stage at the Bitcoin Miami Conference, Bitcoin was trading at roughly $43 ,000 per coin. So you run the math. 43 ,000 times 100x is over $4 million per Bitcoin. So you know that? Let's continue with what he had to share. The central banks are going bankrupt. We are at the end of the fiat money regime. How many of you agree with that statement? I agree there 100%. The first person on the list is Berkshire Hathaway CEO, Warren Buffett. Thiel put up a picture of Buffett with two of his most famous quotes about Bitcoin. One was rat poison and the other, I don't own any and I never will. I also like to point out now since then, Warren Buffett has much indirect exposure to Bitcoin through Bitcoin mining stock companies and etc. So go figure. If you can't beat them, join them, right? And he goes on. He opined, I think the direct in it. Yeah, and I say also Charlie Munger goes along with him. Now, feel further noted that Buffett has a bias and makes him long on fiat money system and money managers who follow the Berkshire Hathaway executives advice will pretend it's complicated to invest into Bitcoin. I think we call that FUD. Fear, uncertainty and doubt. Now expect nothing less from one of the wealthiest people in the fiat money matrix Ponzi scheme. You know what I mean? So just saying. The next person on the list of Bitcoin's enemies is the one and only JP Morgan Chase CEO, Jamie Dimon, or as Max Kaiser calls him, Jamie the tapeworm. They'll put diamonds picture up with the following quote. I don't call them crypto currencies. I call them crypto tokens because currencies have rules of law behind them, central banks and tax with authorities. Now you guys already know how I feel personally about JP Morgan Chase CEO, Jamie Dimon. So I won't go any deeper there. But anyways, we know he's an enemy of Bitcoin and always has been. The next picture he put up was of the BlackRock CEO, Larry Fink, with the following quote. I see huge opportunities in a digitized crypto blockchain related currency, and that's where I think it is going to go. Now just FYI, Larry Fink is the CEO of the largest asset management firm in the entire world, which owns a large share in virtually all the companies in the S &P 500, and that is BlackRock. They currently have over $10 trillion in assets under management. And for a long time, he was spreading FUD regarding Bitcoin. But guess what? Like I mentioned earlier, if you can't beat them, join them because they just most recently, a few months ago, they submitted their application for a spot Bitcoin ETF, which ultimately means they're going to be introducing this to the institutions which have trillions upon trillions of dollars as there's currently north of $700 trillion in total addressable market, and they want their piece of the Bitcoin pie. So he goes on to share, the PayPal co -founder added that Fink's quote is somewhat representative of the whole genre of Bitcoin attacks that need further context, stating that pro -blockchain is an anti -Bitcoin term, very typically. Feel then brought up the environmental, social, and governance, ESG standards, elaborating the following, the label they have come up with, and perhaps the real enemy is ESG. I think that ESG is just a hate factory. Also like to throw out there, Elon Musk, he stopped taking Bitcoin payments for Tesla, and he says it's because of the FUD regarding this ESG, and we all know it's not more than FUD, and it's already been proven that Bitcoin is more than 50 % clean energy. So the million dollar question, when will the world's supposedly wealthiest man, Elon Musk, when will he start accepting Bitcoin payments again for Tesla? Isn't that a great question, and wouldn't you love to know the answer to that? Maybe you should ask Elon and tag him on X and see what he says. Anyways, feel stressed. You can always ask the question, what's the difference between ESG and the CCP, the Chinese Communist Party? Well, when you think ESG, you should be thinking of CCP per H. Now, he also goes on to share, it is the finance gentocracy that runs the country through whatever silly virtue signaling or hate factory to them, just like ESG, the billionaire concluded. This is what I would call and what you have to think of as a revolutionary youth movement, and we have to just go out from this conference and take over the world. So there you have it, fam. What are your thoughts surrounding Peter Thiel's prediction that we are likely to 100X, and along with his enemies list, as it seems, a lot of the enemies have come around and now have direct exposure to BTC, but it doesn't stop there because around that time he was making this $4 million Bitcoin price prediction. He allegedly dumped most of his position cashing out and with over a billion dollars in profits for his fund. So let's also break this down as this is also very relevant. How many of you were able to watch the speech he gave at that Bitcoin conference? It was epic, to say the least. I recall it now. So here we go. Check it out. Peter Thiel's venture capital firm reportedly made $1 .8 billion closing out its crypto positions around the time when he was an early Bitcoin bull, still predicting the token's price to surge by 100X. And again, from 43 ,000 price action, 100X means over 4 million. Founders Fund had cashed out almost all of its bets on digital assets by March of 2022, according to the Financial Times report that cited people familiar with the matter. But Thiel was still backing Bitcoin, obviously, when he spoke at the crypto conference in Miami the following month. He went on to share where at the end of the fiat money regime, he said, adding that the token's price could increase 100 fold from its level at the time, which was reported at $44 ,000 per coin. That prediction was proven false and as rising interest rates and failures, the high profile firms like Celsius Network, Three Arrows Capital, FTX, Terra Luna dragged the crypto sector into the prolonged bearish winter. Now Bitcoin plummeted by over 60 % in 2022 and was trading at under 17 ,000 by the end of the year. And I believe the bottom currently for the cycle is 15 ,700. How many of you feel that that bottom is in? Let me know, chat. Founders Fund first started pouring money into crypto all the way back in 2014, when Bitcoin was only trading at roughly $750 per coin. So by the time Bitcoin reached its all time high in November of 2021, it had surged 8 ,500 % from that particular level. Not too shabby for a seven year run, wouldn't you say? Now Thiel has a long track record as one of Silicon Valley's most prominent tech investors. He took early stakes in startups, which include Facebook, Elon Musk's SpaceX, and ride hailing app Lyft, and even co -founded PayPal back in 1998. Thiel is also a high profile supporter of the Republican Party and continued to voice his support for Donald Trump since the former president left office in January of 2021. The fund held around two thirds of his portfolio in Bitcoin at one time, but now not has significant exposure to crypto according to FT's sources. So there you have it. Fam, what are your thoughts surrounding his prediction and him cashing out at around that time he was making those all time high predictions of 100X? Let me know, fam. And don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
A highlight from 1403: This Will Send Bitcoin to $1,000,000 - Max Keiser
"In today's show, I'll be breaking down the latest technical analysis, as well as breaking news just in. The former SEC and Federal Reserve Bank of New York, Norman Reed, announced as the new CEO of Binance US? Like, what? Serious? We'll also be discussing the latest from Max Kaiser, who recently shared, we helped boost El Salvador's bonds 90 % this year. We can help Javier Malay escape the IMF, central banking terrorist, and get Argentina's economy rocking. Hope to be landing in Buenos Aires soon. Let's go. He also says that President Bukele plus Bitcoin have reinvented the nation state. Governance is being redefined in the Bitcoin age. A true meritocracy and universal economic freedom is rising in El Salvador. Socialist ideas are on their deathbed. Can the Bukele model of Bukelenomics be exported to another country? We will go to Argentina and discuss this with Javier Malay. Can't freaking wait. Also breaking news, Mark Cuban loses $870 ,000 worth of Ethereum in his MetaMask hot wallet with a hack. Rough. Also in today's show, Gemini legal team accuses DCG, the digital currency group of gaslighting Genesis creditors. We'll also be discussing BitGo and Swan unveil plans for a Bitcoin -only trust company. That's right, the trust company will target institutional investors in the United States as asset managers line up for the Bitcoin spot ETF. Send it. We'll also be discussing Bitcoin price all -time high will precede the 2024 halving according to this latest prediction by Bitcoin. Quitting him here, no, Bitcoin is not going to top before the halving. Yes, it is going to reach a new all -time high before the halving. No, Bitcoin is not going to 160 ,000 because the magnitude of every pullback is large. This means it will peak after the halving in 2024. And yes, the target price is around $250 ,000 per Bitcoin. I'll also be sharing the latest predictions from Max Keiser with the Bitcoin price action I recently transcribed his most recent interviews. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again, that's cryptonewsalerts .net. Welcome everyone just joining us. This is pod episode number 1403. I'm your host JV, and it is stat stacking Saturday. So let's get it. It's September 16th. So you already know we're halfway through the September before October. So let's bring it. Let's start with our market watch. As you can see here on the screen, we're back in the green. Bitcoin up a half a percent for the day trading back above 26 ,500. We also have Ether trading above 1600. And checking out coinmarketcap .com, we're sitting just above that trillion dollar milestone with roughly 22 billion in volume in the past 24 hours. Bitcoin dominance is 48 .9%, and the Ether dominance is 18 .6%. And checking out the top 100 crypto gainers of the past 24 hours, TonCoin leading the pack up 17 .5 % trading at $2 .42, followed by ThorChain up 9 .5%, trading at $1 .91, followed by Flow up 8 .5%, trading just above 46 cents. And checking out the top 100 crypto gainers for the past week, we have a sea of green, which is a beautiful omen for the altcoin market. We have coins such as TonFlow, Rune, and Ave all pretty up between anywhere from 8 to 13%. And yeah, so there you have it. How many of you are currently bullish on the king crypto, and how many of you are anticipating a further dip? Let me know your insights. And at the end of the show, I'll be reading everyone's comments out loud as we do each and every day in the Q &A session. Now, let's dive into some technical analysis from Glassnode, one of my favorite analytics platform. The past few days have been relatively positive for the price action for the king crypto, which has been increasing since Tuesday, September 12th. At the time, Bitcoin is sitting just above 25 ,600. Now in this prediction, the co -founder of the popular crypto analytics resource, Glassnode, outlined that the US CPI jumped by 0 .6%, which led to some fluctuations of the Bitcoin price. And indeed, the core CPI, which excludes more volatile sectors such as food and energy by design, has noted a yearly increase of 4 .3%. But interestingly, the CPI itself clocked in at 3 .7%, while the estimations were for it to be 3 .6%. So initially, the news didn't really have any impact on the price, which beyond the expected initial turbulence, settled at where it was trading just before that. So here's some price predictions coming from the Glassnode co -founder. He pointed out that crypto reclaimed the support above 26 ,000 and is now eyeing a potential break beyond 27 ,000. This would help it escape a multi -week range. He went on to share, risk signals nose dive into the 60s around ,400 27 and 28 ,200. But this climb seems poised as a step before tackling the psychological barrier at $30 ,000. So there you have it. Let me know if you agree or disagree with the analysts. And are you currently more bullish or bearish on the King crypto for the short term? Please do let me know. And breaking news just came in before I went live. And I'm like, it's hard for me to even accept this, but this is what it says. Former SEC and Federal Reserve Bank of New York, Norman Reed, is announced as the new CEO of Binance US. You can't make this stuff up. Folks, what is the SEC doing? Now, Max Kaiser recently tweeted, I'm sure you know, there was a Tucker Carlson interview with the pro Bitcoin presidential candidate of Argentina, who's currently winning the polls for the presidency. And fantastic, almost 400 million views within the first day. Max went on to share, we help boost El Salvador's bonds 90 % this year. Facts. We can help Javier Malay in Argentina escape the IMF central banking terrorists and get Argentina's economy rocking. Hope to be landing in Buenos Aires soon. So the million dollar question, do you think Max Kaiser will orange pill Javier Malay? I sure hope so. He even recently tweeted here, President Bukele plus Bitcoin have reinvented the nation state. Governance is being redefined in the Bitcoin age. A true meritocracy in universal economic freedom is rising in El Salvador. Socialist ideas are on their deathbed. Can the Bukele model of Bukele -nomics be exported to another country? We will go to Argentina and discuss this with Javier Malay. And quoting El Salvador's fearless leader, Bukele, old ideas and institutions crumbled and a new generation is called on to remake the world based on the human right of financial freedom. Preach. Now, Max also shared in regards to this headline, Janet Yellen says Ukraine aid is the best boost for the global economy. Now this is hilarious and also sincere at the same time. Bitcoin monetizes war and violence by being finite and uncomfortable as this ugly, what? Illustrates money monetizes war by violence by turning humans into disposable garbage central bank Ponzi scheme. Preach Max Kaiser. Greatly appreciate all the work you're doing. You're truly doing God's work. You and Stacy's a massive shout out. Now let's discuss the latest with the hack from Mark Cuban. Now this is alarming, but at the same time, it's Meta Mass. I've been telling you guys to stay away from the Meta Mass wallet for quite some time. And also they didn't hack Bitcoin. They hacked Ethereum. I personally don't trust Ethereum or Meta Mass. So interestingly enough, so to read this story, let's break this down. Check this out. Nearly $900 ,000 worth of Ethereum was reportedly drained from one of the hot wallets belonging to investor in Dallas. Mavs owner, Mark Cuban, the man that once said Bitcoin has no intrinsic value and that bananas are more valuable. Yeah, right now, independent blockchain sleuth was the first to spot the hack September 15th at around 8 PM. So that was last night after they highlighted suspicious behavior. What one of Cuban's wallets that the 65 year old had an interacted with for roughly five months as he shared here on X LMAO did Mark Cuban's wallet just get drain wallet inactive for 160 days and all of the assets just moved. And according to the transaction history on Etherscan, several batches of assets such as USD coin, USDC tether, and Lido staked Ether were suddenly withdrawn from the wallet within a 10 minute window. Now adding complexity to the matter, another 2 million worth of USDC was also withdrawn and sent to a different wallet, leading Woz to suspect that Cuban may just be moving some assets around. However, a few hours later, Cuban confirm to DL news that he had gone on metamask for the first time in months and vaguely suggested that the hacker or hackers may have been watching and waiting for the moment to pounce. Cuban added that he had transferred any remaining assets to Coinbase custody, essentially confirming that the $2 million worth of USDC transaction was indeed him. But in terms of the hack, members of the community were quick to point out that the opposed to the hackers watching Cubans activity, he must have done something that led to the security breach. Some suggested that Cuban may have mistakenly signed a malicious transaction while others asserted his private keys were compromised given that the funds were directly transferred out of his wallets. What do you guys personally think chat? Please let me know in the comments below. This is not the first time Cuban has been taken a hit on the crypto market. Back in June of 2021, Cuban Lawson unspecified amount of capital on what he called a rug pull after the algo stable project called iron finance imploded amid a supposed bank run. So there you have it. Mark Cuban has a bad track record in crypto. Just pointing out the obvious fam, how many of you guys think that it was a legitimate hack? Let me know your thoughts or how many of you think he maybe have just moved it around and don't want to claim it. Who knows? I mean, there's infinite possibilities. No one really knows, but I'll be keeping you posted with the latest developments. We all know Mark Cuban is a multi -billionaire. So obviously a $900 ,000 loss is not going to affect him. He's not going to lose any sleep over it. But what if you were to get hacked worth of $900 ,000 of crypto? So again, red alert, be very careful with wallets such as MetaMask. Just saying. Now for the latest between the digital currency group in Gemini with the ongoing saga as it continues, lawyers representing Gemini Trust have pushed back against the plan proposed by DCG for the creditors of Genesis Global in the filing yesterday, September 15th in the US Bankruptcy Court for the Southern District in New York. New York, where you at? The legal team accused DCG of gaslighting Genesis creditors through contrived, misleading and inaccurate assertions and a recovery plan. Now the plan filed in Bankruptcy Court September 13th, three days ago, claimed unsecured creditors could have a 70 to 90 % recovery with a meaningful portion of the recovery in digital currencies, while Gemini earned users would expect an approximately 95 to 110 % recovery for their claims. This seemed like a red flag when I initially read the story. I'm like, how are they going to get back 110 %? Does that make any sense? So now I'm starting to understand maybe they were gaslighting. What are your thoughts, chat? According to the legal team, DCG was attempting to bait the Gemini lenders into accepting the deal that would allow the company to pay less than it allegedly owed. Lawyers called on the firm to significantly improve the terms of the loans provided to Genesis and not use Genesis' bankruptcy proceedings to cover for justifications of the recovery plan, quoting them here, to distract the Genesis creditors from the inconvenient facts of its facially inadequate and inequitable proposal, DCG touts proposed recovery rates that are total mirage, misleading at best and deceptive at worst, said the filing yesterday, September 15th. Make no mistake, Gemini lenders will not actually receive anything close to the real value in terms of proposed recovery rates under the current agreement. In principle, so a bunch of more shenanigans, to say the least. The legal battle involved entanglements with crypto exchange Gemini and DCG over the Gemini Earn program. How many of you have lost crypto from Gemini Earn? I'm curious. Please let me know in the chat, fam. Financed in part by Genesis, Genesis halted withdrawals as we know November of 2022 in the wake of the FTX collapse, citing unprecedented market turmoil at the time and filed for bankruptcy later on in January of this year. According to the court filings by Gemini, Genesis owed more than $3 .5 billion to its top 50 creditors at the time of their Chapter 11 bankruptcy filing. The crypto exchange filed the claim in May, aimed at recovering more than $1 .1 billion worth of assets for roughly $232 ,000 Earn users and filed a lawsuit against DCG and their CEO, Barry Silber, in June alleging fraud. Barry was not the only architect and mastermind of the DCG and Genesis fraud against the creditors. He was directly and personally involved in perpetuating it, said Gemini co -founders Cameron and Tyler Winklevoss back in June. The US SEC filed a civil suit against Gemini and Genesis in January for allegedly selling unregistered securities through the Earn program. The two firms filed a motion to dismiss the case in May, but it is still ongoing at this current time. How do you think this is likely to play out? I just hope that the investors get their money back as they deserve because we all know with lawsuits, the biggest losers are always the investors. The biggest winners are the lawyers and the courts. That's just facts. So we'll see how this plays out as well. And again, they're attacking and going after all of the yield programs for crypto with Gemini Earn being a pretty large one. Why? It undermines the banks, right? If you can earn a five or 10 % yield putting your cryptocurrency on their platform, it basically tells you that why would you even waste your time with fiat currency in your bank when you're losing more than the actual appreciation of interest because the interest is virtually nothing while you're losing 20 % in inflation on an annual basis. It just makes no sense. So it seems if I had to guess, that's why they're attacking all of these yield programs. But what are your thoughts, chat? Please do let me know. I'm going to read those comments out in a little bit. Now let's discuss the latest with Bitcoin Trust. That's right, BitGo and Swan unveiled plans for their Bitcoin -only trust company. This is breaking news as well. The US may soon have a Bitcoin -only trust company according to plans disclosed by BitGo and Swan yesterday, September 15th. The joint venture is pending regulatory approval, the company said in the statement. Now I love the word joint venture because hey, JV, just saying. The forthcoming entity will handle similar activities of a trust company, including Bitcoin custody, administration and management on behalf of its beneficiaries. And according to Corey Clipston, CEO of Swan, the solutions intends to offer Bitcoin custody without the risk of having other altcoins under the same roof. As you know, Swan is Bitcoin -only and they're pretty much anti everything, not Bitcoin. Quoting him here, for years, we have heard from major clients, partners and other Bitcoin companies that they would prefer a Bitcoin -only software and services stack that is focused strictly on the best custody and leverages of Bitcoin's unique features. The companies are in contact with state regulators about the plans, but have yet to file regulatory approval. Clipston told Cointelegraph we're evaluating acquisition options first, he disclosed as he announced here through the Swan Bitcoin team on X. As part of our long -term vision to advance Bitcoin adoption, we're announcing a major step forward for Swan and the entire Bitcoin ecosystem. BitGo and Swan announced plans for USA's first Bitcoin -only trust company. Let's go USA. BitGo offers digital asset security and custody, supporting over 700 cryptos as per its website. And in contrast, Swan's business is fully dedicated to the king crypto, allowing users to only invest in Bitcoin via a one -time and reoccurring purchases, with custody of records held at Fortress Bank and Bakkt, while BitGo acts as a cold storage for Custodian. Now, didn't Fortress Trust just go bankrupt or get acquired by another company? Was it Ripple? You guys let me know in the chat. I know there was something major with Fortress Trust. Now, the new venture will target institutional investors such as asset managers, pension plans, and family offices, along with governments and company treasuries. It will offer cold storage, fraud prevention, anti -money laundering, and know -your -customer protocols, amongst other Bitcoin -related services. Institutional investors in the crypto space are at a fast -growing market in the US, especially as the world's largest asset managers seek regulatory approval, which includes BlackRock, the largest. For a spot Bitcoin ETF, we also have several large Wall Street players offering crypto custody solutions to institutional investors, which include the Bank of New York, Mellon, as well as Deutsche Bank, quoting them here. We believe there is a high likelihood that several ETFs are approved in 2024, and thus a new round of entrants to the Bitcoin market seeking mature, reputable, technology -proficient partners for a range of needs, explained the Swan CEO. The SEC delayed decisions on the spot Bitcoin ETF product. Analysts predict the regulatory regulator may postpone a decision until early 2024 as the deadline fast approaches, quoting them again. Our teams have worked closely together for nearly a year on stronger, qualified custody models. Early in 2023, we recognized the opportunity to establish a Bitcoin -only custodian, combining the unique capabilities of each company and supporting the innovators that will be at the forefront of pushing Bitcoin adoption, noted the CEO of BitGo. So there you have it. I am curious, by a show of hands chat, how many of you have purchased or acquired Bitcoin using Swan Bitcoin, and how many of you are familiar or ever used BitGo? Let me know in the chat. Now let's break down our next breaking story of the day, and that's the Bitcoin halving, which should be on everybody's mind, because it's only six months out, estimated to take place sometime in April of 2024. Now guess what? What if we hit a new all -time high pre -halving, because that's what this prediction suggests. Let's break this baby down, shall we? Bitcoin has a $250 ,000 target for after its next block subsidy halving, but a new all -time high will come sooner. Let me know if you guys agree. That is the latest Bitcoin prediction from BitQuant, the popular social media commentator who sees a rosy future for Bitcoin. In his latest post on X on September 15th, synonymous central banker and Bitcoiner revealed a pre -halving target of 69 ,000. That's what makes this individual interesting. He is a central banker and a Bitcoiner. I didn't even know that was a possible combination, fam, just saying, but he wrote, no, Bitcoin is not going to the top before the halving. Yes, it is going to reach a new all -time high before the halving. Now Bitcoin has just over six months before the halving, the event that cuts the miner rewards, as we know, per block by 50 % every four years. Analysts argue that the resulting emission restrictions have a cathartic impact on the Bitcoin price performance, acting as something of a springboard in advance of Bitcoin seeing new all -time highs. But for BitQuant, the analysts, that alone is not bullish enough. Not only will Bitcoin beat its current record set in 2021, which we all know the current all -time high is 69 ,000, before next April, it'll go on to hit $250 ,000 per Bitcoin after the next halving cycle begins. That's what he says here. No, Bitcoin is not going to 160 ,000 because the magnitude of every pullback is large. This means it will peak after the halving in 2024, and yes, the target price is around 250 ,000, which is outlined right here in the chart. Let me know if you agree or disagree with this crypto analyst, BitQuant. Now, market participants are highly divided when it comes to how the Bitcoin price action will play out into the halving and beyond. Some agree that the higher levels are possible by April, but plenty of conservative voices obviously remain, especially bears, right? Last month, Bitcoin investor and author Jesse Myers dispelled any idea that Bitcoin will be trading at six figures between now and then, and in a subsequent interview, meanwhile, Philby Philby, the co -founder of Trading Suite, decent trader, gave a pre -halving Bitcoin price ceiling of 46 ,000, quoting him here, assuming no Black Swan event, around 35 ,000 by the end of the year, and possibly as high as 46 ,000, sometime pre -halving in quarter one of 2024. So there, you freaking have it. And as he shares here, I'm going to read you his particular post on X coming from Bitcoin. Again, this is the central banker slash Bitcoiner. He says, no, Bitcoin is not going to the top before the halving. Yes, it is going to reach a new all -time high before the halving. No, Bitcoin is not going to 160 ,000 because the magnitude of every pullback is large. This means it will peak after the halving in 2024. And yes, the target price is around $250 ,000 per coin. So there you have it, fam. Again, let me know if you agree or disagree with the analysts and where do you feel the Bitcoin halving, which is around the corner, is likely to take us. As you know, the two most bullish catalysts in the market, Bitcoin halving as well as spot Bitcoin ETF. I hope they both get approved and take place. We already know for certain the halving will take place, but there's a 95 % chance of the spot ETF approval in the United States, according to top ETF analyst, Eric Balchunes of Bloomberg. Now for the moment you have all been waiting for, the latest from Max Kaiser. I recently transcribed, actually today, his most recent interview in Bitcoin price predictions, very powerful words to share. So let's break this down. So first and foremost, he says, the world is a very different place and everyone will say nobody saw it coming, but it is clearly been brewing now for many years. And it's like every single day you can just see the catastrophe inching toward the abyss. You know, it's we're at the zero line preach. He also says it is a global fiat money game and you see different countries where fiat money regimes are collapsing in real time, right? Facts. Argentina, you know, the countries like this or like Lebanon recently had a complete collapse or a central bank collapse. That's right. And inflation is definitely an indication that your fiat money regime is in dire straits and inflation is breaking out in a big way. It is not going to return to where it was before this latest inflation break inflation and the collapse of fiat money is here. Now people are feeling it right now. And the quality of life all over the world is being impacted by it and it's being impacted in the United States. You know, people can't buy a home. People can't afford food. The economy is starting to ramp back up again. So it's playing out right now. And there is nothing that can be done to stop this inflation because the economy is completely out of control. So even the interest on the debt in the United States is now over one trillion dollars. So I think it is the biggest line item on the budget, bigger than the military. What we were told for decades was, oh, you know, it's trickle down economics or what you have, what not. I mean, and he goes on to share with Bitcoin. It's kind of the end of price discovery because everything will be priced in Bitcoin preach. eventually Everything goes to zero against Bitcoin. And so for someone like myself, who has been following this for 40 years, finance markets, technology, Bitcoin is the holy grail. It is the end all. I would say my compatriot in all of this is the one and only Michael Saylor. When you hear Michael Saylor talk, he talks about the aesthetics of Bitcoin, the beauty of Bitcoin. And he speaks about it in a way that I think carries the torch from the Max and Stacey from 2011. He started buying it, I guess, when it was 10 or 12000 a coin or so in 2020 era. So we were from 2011 to 2020. I think he's kind of carried the torch from 2020 in a lot of ways and introduced Bitcoin to massive pools of capital. I am surprised that more companies haven't followed his lead, giving up the break in inflation we have had exactly as Michael Saylor predicted, the melting ice cube, as he called it at that time, is exactly what happened. Well, I guess we can say now we're in a new era where BlackRock and those other major institutions are now looking at Bitcoin. So his work on the institutional level, I guess, is now bearing fruit. Three years later, I see in the Middle East, they are starting to recognize Bitcoin. So that's a huge pool of capital. I think all of that oil money will find its way into Bitcoin and be a huge catalyst for the prices. It is a natural way for the oil industry to diversify their portfolio because Bitcoin is essentially energy and the energy eventually gets priced in Bitcoin. And there is a marriage between these two in a big way. So I think that's kind of the answer. I have always been fascinated by price discovery in markets and the architecture of how markets work under the hood. And Bitcoin is such a pristine, perfect money. And I think it is something that humans have been searching for since forever. And now we're seeing it change society on a really fundamental level with the introduction of Bitcoin. And a lot of people are freaking out because of it, because it destroys the status quo. And a lot of people who have been waiting for it to come along have had the faith that humanity can be saved. They see Bitcoin in those terms. So you have this split going on, which is very exciting. So it just continues on and on. And you cannot, how could you not be interested in it? I think the people who were into it earlier and just walked away just never got it from the beginning. Once it's characterized as an asset class, we have nothing to do except position ourselves in this asset class. Either we are going to be a small position or a big position, but we cannot ignore it. We cannot not have a position. Now check this out. So even 1 % of that multi -hundred trillion dollar funds available moves the needle on Bitcoin and it moves it up considerably. He's referencing the 700 trillion dollar plus total addressable market. And he continues, so if we get into the 5 to 10 % range, then you start to really see it raise ahead to the seven figure type predictions that people have been making, including myself, because Bitcoin is an asset class preach. And on the flip side, we have what we saw in the gold market, which is the ability to control the price discovery and manipulate the prices. It's real through the derivatives markets. So the price of gold has been lagging inflation for 20 years because the governments around the world don't like gold making their fiat money look bad. That's right. So they make it easy for the huge funds to manipulate the price of gold and to scalp it, to continuously skim profits off of gold, which is what they do almost every single day. You can watch it and see it. That's pretty clear. And they are very good at keeping the price of gold and silver down. There's something like for every ounce of silver, there's probably 50 ounces worth of derivatives floating in various exchanges around world that are used to keep the price of silver down because governments don't want gold to race ahead and draw capital out of their fiat money scam into gold. He's preaching. Now with Bitcoin, we have the ability to pull our private keys, which is not really available with gold. Technically people can take delivery of gold on these exchanges, but there has never been an organized attempt to do so. We tried to do it a few years ago with crash JP Morgan, buy gold and silver because after the 2008 financial crisis, when JP Morgan ended up buying Bear Stearns effectively for nothing, they inherited this huge multimillion short silver position that Bear Stearns was managing at the behest of presumably the government. The government likes to stay involved. And so I did some calculations and it became clear that if this short position was not covered, the price of silver could go to 60 to $70 an ounce, and it would bankrupt JP Morgan Chase. Take that Jamie Dimon. So we started this crash JP Morgan buy silver campaign, and we got the price of silver from $15 up to $50. So we got it up to $50 level. And then the Fed of course came in, they changed the laws overnight to make it possible for these banks to have and carry a much greater short position and silver. So they printed up a lot of paper, silver derivatives, and they stopped the run on their bank. And the price of silver went back down to $15 or so. So we've seen that it is possible to force capitulation in that silver market. But at the end of the day, because the ability to pull private keys is not like it is Bitcoin, I don't think it'll ever succeed. Whereas with Bitcoin, you can pull your private keys. Now, I mean, he is speaking facts right here. Warren Buffett and his own words has said, derivatives are financial weapons of mass destruction. The central bankers are using it to manipulate the markets. That's what they're doing with silver. That's what they're doing with gold and precious metals. And Max makes a great point. They don't want the gold and silver prices to rise up. It undermines the US dollar. They're trying to keep a strong dollar, right? So that's why gold has been pretty stable at like $2 ,000 and unable to really climb much above it. I think it's been pretty stagnant virtually for the past decade. So with the dollar inflating from them continuing to print trillions of dollars, the fact that gold isn't just continuously going up, it proves that the market is manipulated. You also got to consider as well, there is no scarce asset like Bitcoin. Bitcoin has a finite limited supply of 21 million coins. Yeah, gold may be rare or scarce, but they dump a new supply every year into the market. They can control it. They could invest more into discovering more gold. As Jack Mallers pointed out, Elon could maybe discover more gold on Mars. Who knows? Bitcoin, you can't say the same thing. Bitcoin is perfect money. It's incorruptible. It's unconfiscatable and the list goes on and on. So if you had the choice to put your wealth somewhere, what asset class would you choose to put it in? Let me know, fam. And don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
A highlight from 1395: BlackRock Bitcoin ETF Will Send BTC to $1,500,000
"In today's show, we're going to be discussing Bitcoin liquidating $23 million in shorts as Bitcoin price tags a new September high. And check this out, Michael Saylor shares three catalysts which will take the Bitcoin price to $5 million per coin. Also quoting Ricardo Stellinas, the third richest man in Mexico, Christine Lagarde is a thief, Jerome Powell is a scammer, and they're pulling off the perfect fraud preach. And quoting Max of Central in South America, also breaking news just in, Turkish crypto exchange CEO sentenced over 11 ,000 years in prison for allegedly stealing $2 billion in customer funds. We'll also be discussing the institutions may be forced to fight over just 5 % of the Bitcoin supply. Can you say incoming? Bitcoin supply shock. We'll also be discussing when will we see a new Bitcoin all -time high? Will it be this year? Will it be 2024, 2025? I'll be breaking this down for you. We'll also be discussing now 10 years later, since the first Bitcoin spot ETF application and still no Bitcoin ETF, when is it likely to finally be approved? We'll also be discussing the largest asset manager in the world, BlackRock and their Bitcoin spot ETF can literally unlock $30 trillion into the crypto market, send in the Bitcoin price parabolic to $1 .5 million per coin. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again, that's crypto news alerts .net. So welcome everyone just joining us in the live chat. We're finally back in the green for the Bitcoin market, which is a good sign. Let's kick off today's show with our market watch. But first and foremost, welcome everyone. It's September 8th, 2023. I'm your host JV, and this is pod episode number 1395. As you can see here, we got Bitcoin in the green, trading at roughly 25 ,900 while Ether and BNB are still in the red. And checking out coinmarketcap .com, we're currently sitting just above that trillion dollar milestone, with about 28 billion in volume in the past 24 hours. Bitcoin dominance has been pretty stagnant, currently at 48 .3%, with the Ether dominance at 18 .8%. And checking out the top 100 crypto gainers of the past 24 hours, we have Kronos leading the pack up 3%, trading at 5 .2 cents, followed by XDC up 3%, trading at 5 .6 cents, followed by Stellar Lumens up roughly 2 .5%, trading just above 12 .5 cents. And checking out the top 100 crypto gainers for the past week, I'd say the majority are back in the red, but we do have some pumpers, including XRD now up 8 .1%, following by CRO up 3 .3%. And checking out the crypto greed and fear index, we're currently rated at 46 in fear, yesterday at 41, last week a 40, and last month a 50, which is dead in the middle, neutral. So there you have it. How many of you have been taking advantage of this recent dip? Please do let me know in the comments right down below. And now let's dive into today's Bitcoin technical analysis. If you're just joining us, make sure to say hello in that live chat, and let us know where you're tuning in from. But yeah, let's check out these charts, Bitcoin extended volatility into the September 8th Wall Street Open as a classic short squeeze sparked new September highs, which you can see here in the Bitcoin, one hour candle chart, data from Cointelegraph and TradingView showed Bitcoin price movements liquidated in shorts and longs alike. Bitcoin has seen upside momentum the day prior, culminating in a trip above 26 .4 after the daily close, then a subsequent comedown nonetheless took Bitcoin full circle, and Bitcoin slash USD pair was back under the 26 ,000 mark at this time. Now, some analysts breaking down some of the charts here, such as Jelle says, whoops, let's take out the lows again, then. Hmm. Now the result was punishment for the late traders chasing the market up and down. According to data from CoinGlass, short liquidations total $23 .5 million for yesterday, September 11th. And thus far today, we don't know how long the tally is precisely, but probably even higher. Shorts have got hunted as expected. It's a popular trader scoop, quitting him here. Bitcoin Binance and Bybit open interest shorts got hunted and as expected. Note the over leverage added here, or I'm sorry, open interest added here with a small price reaction and decrease in the per bid delta. This implies that more shorts scaling into the price on the second dive higher. Now, fellow trader Dan Crypto Trades highlighted the significance of reclaiming lost ground from August, quitting him here. Bitcoin was finally able to break above the September monthly open after testing it numerous times. It is now retesting it. The question is, will it provide as much support as it did resistance? It's up to the bulls to try to maintain a green September. Meanwhile, CoinGlass data confirms September tends to produce a Bitcoin price downside of close to 10%, with market expectations skewed approximately for 2023. And quoting another trader, Crypto Tony, he says, nice rally off of 25 .6 range low, but no following through up to the range highs. So again, we're stuck mid range. No entry for me on Bitcoin unless we clear 26 ,600 as outlined here in this chart. Now quoting another analyst, Michal Vendet Pop, he says, technically speaking, we can solely focus on the price action in 2019, but that doesn't grant a clear case. The case in 2015, we can correlate the current market with that cycle, he said in his commentary. And he continued, in that regard, this is the final correction. Let me know if you agree or disagree with the analyst as he outlines here in this chart. He says there is a level in which Bitcoin must hold in order to avoid the significant crash. Bitcoin currently holding onto a significant level of support. It's around the 25 ,500 barrier, which has held up thus far. Do you think we're likely to drop sub 20 ,000? Let me know your honest thoughts in the comments right down below. And now let's break down the latest from Michael Saylor. He recently shared three catalysts, which will take the Bitcoin price to $5 million per coin. Catalyst number one, a spot ETF approval, which he says is inevitable. Number two, banks custody and against Bitcoin as collateral, which is coming soon. And number three, fair value accounting rules from the FASB, which will be approved this week. So there you have it. Very bullish sentiment coming from Mr. Saylor and massive shout out to Ricardo Salinas, the third richest man in Mexico. In this interview, here's what he had to share. Christine Lagarde is a thief and Jerome Powell is a scammer. They're pulling off the perfect fraud. So much respect and shout out to Ricardo Salinas for preaching the facts. And quoting Max Keiser, the high priest of Bitcoin, he says that President Bokele is the Warren Buffett and Elon Musk of Central and South America. And he's turning a $26 billion out of favor of phishing and Pupusa hub with some untapped volcano Bitcoin mining potential into a $300 billion mega success story that's transforming the region. So let's freaking go. Massive shout out to Najib Bokele. And now let's break down our next story of the day and discuss this $2 billion crypto scam. Could you imagine being sentenced to over 11 ,000 years in prison? Do they not understand the average life expectancy of a human being? I mean, who does that? But anyways, this is quite fascinating to say the least. Here's the guy right here, just in Turkish crypto exchange CEO sentenced to 11 ,196 years in prison for allegedly stealing $2 billion in customer funds. This story should have SPF ishing his pants considering SPF with FTX was a $30 billion fraud for Christ's sake. Facts. So yeah, let's break this one down. The former CEO of Turkish crypto exchange Thodex. And let me know if anyone has ever heard of the exchange. I never heard of it until today. The guy's name is Farouk Faith Ozer. He was sentenced to 11 ,196 years in prison by a Turkish court on charges of establishing, managing and being a member of an organization where qualified fraud and laundering of property values. Are you listening to SPF? Now, the ninth high criminal court sentenced him along with his two siblings to the same jail sentence of 11 ,196 years. Good Lord. 10 months and 15 days in prison along with a $5 million fine reported Turkish state run news agency. The Turkish crypto exchange was one of the largest digital asset trading platforms in the country before abruptly imploding in 2021. The exchange halted services on the platform without prior notice. And the founder fled the country along with the user's assets, totaling over $2 billion in crypto. And at the time, he refuted all claims of the possible exit scam. The fugitive founder was finally detained in Albania in August of last year, where he has been serving a jail sentence before he was extradited to Turkey in April of this year on charges of fraud and money laundering. The same charges SPF is against. Now, he was already in jail for failure to submit tax documents since July, while the most recent conviction comes for defrauding customers. The founder of the crypto exchange claimed in court that he and his family are facing injustice. He said that Thodex was a crypto company that went bankrupt and had no criminal intentions. A Google translated version of his court statement read, the following, I am smart enough to manage all institutions in the world. This is evident from the company I founded at the age of 22. If I were to establish a criminal organization, I would not act so amateurishly. The question is that, is it clear that the suspects in the file have been victims for more than two years? So he's allegedly claiming to be a victim. The long drawn out case against the Thodex crypto exchange had 21 defendants, five of whom attended the court hearing in person. The court acquitted 16 defendants of qualified fraud due to the lack of evidence and ordered the release of four defendants. The other defendants in the case received varying degrees of sentences based on their involvement in the crypto fraud. So there you have it. I mean, quite interesting to hear anyone being sentenced for over 11 ,000 years, and especially considering his siblings are also involved. Do you think they're just trying to make an example out of him? I don't know what to really think, honestly, because I don't know the guy. I don't know the exchange. I don't know if he's really innocent. I don't know if it's an attack. But what are your thoughts, fam? Let me know. And at the end of the show, I'll be reading everyone's comments out loud. But it does sadden me. I must say, hearing anyone get sentenced to 11 ,000 years in prison doesn't seem right. If you could only live approximately, what, 80 years, it just is a bunch of nonsense and sounds like they're trying to make an example out of someone. I say, if you want to make an example out of someone, use SPF, the $30 billion fraudster himself. Why don't we start there? You know what I mean? Just saying. Anyways, fam, now let's discuss the potential supply shock incoming as per Invest Answers as institutions fight for the final 5 % of the Bitcoin supply. That's right, citing an infographic from blockchain analytics firm Glassnodes stating that 95 % of the existing supply of Bitcoin has not moved over the past 30 days. Anonymous host of Invest Answers tells his half a million YouTube subs the Bitcoin needs to rally is a buy -side catalyst, quitting him here. Breaking news, 95 % of all the Bitcoin has not moved in the last 30 days. So again, despite the weak market, only 5 % is moving around with 95 % sitting tight. And we know why. But the real magic of this, imagine there is a catalyst and imagine big money wants to jump in and buy a truckload of Bitcoin. The price will just go parabolic. And that's just economics, ladies and gents. This is why I am so obsessed with Bitcoin. It is so scarce. So literally when the big institutions come and they are fighting over that 5 % and all the legacy holders are just sitting there watching anyway, it's a reason to be excited. And the charts don't lie as the HODL waves chart from Glassnodes shares here, literally 95 % of all the Bitcoin has not moved in the past 30 days. So shout out to all my long -term HODLers. The anonymous host also further says that the remaining supply of Bitcoin after accounting for the long -term HODLers and the lost Bitcoin is also yet another bullish indicator, quitting him here. The amount of Bitcoin that is either HODLed or lost or basically has not moved in the last five years is nearly 8 million BTC. That means technically only 11 million or thereabouts have not. And in fact, taking this five -year plus, it doesn't include all the Bitcoin lost over the last five years or less. So we just know it is super scarce. It is question, well, if it is so scarce, is that not bad? No, it is not. It means the price of what's left will go up and it won't take a lot to move it as well. So there you have it. And in this chart by Glassnode, you can see the 8 million Bitcoin HODLed or lost in the past five years, but only 11 million left as the smart money and the whales continue accumulating as they should. So there you have it. Let me know if you feel that Bitcoin supply shock is going to be incoming, this halving coming up in roughly six months, scheduled to be sometime in April 2024. Let me know your honest thoughts in the comments right down below. Now let's discuss our next story of the day and discuss when do you think the Bitcoin price is likely to hit that new all -time high? Well, let's break this down according to Crypto Con, a fellow analyst predicting all -time highs in 2025, which I feel is conservative. I think personally we're likely to smash the 69 ,000 all -time highs sometime next year in 2024. But let me know your thoughts, chat. Now amid debate over the nature of the current Bitcoin four -year price cycle, Crypto Con believes that all may be simpler than many imagine when it comes to how Bitcoin behaves at a given time. Unveiling the November 28th chart on X, he delineated the date of the key pivot point for the year along with a three -week period on either side, quoting him here, using four -year time cycles against my inception. The cycles are centered around the dates of the first halving, November 28th. And he continues, the Bitcoin price action began at the first bottom, October 8th, 2010. This is where cycle curves peak every four years. Tops and bottoms come plus or negative 21 days from November 28th at their appropriate times on the curve. Tops on the upswing, bottoms on the pinnacle. So the chart virtually describes November 28th as Bitcoin date. Bitcoin sees a Bitcoin bull launch every four years. The last was in 2020 when Bitcoin broke beyond his previous all -time high, hitting the current high of 69 ,000, which we did in November of 2021. The next point of interest is thus November 2024. Until then, Bitcoin price action will spend its time in a mid -cycle lull, according to the analysts. After Bitcoin bottoms, the price makes an early first cycle move, which you can see in this chart in the orange and enters into a mid -cycle. This is the longest part of the cycle where Bitcoin spends time around the median price, half of the previous all -time high until the curve bottoms. So ultimately, the median price of the previous high is probably in that $33 ,000 to $34 ,000 range, just FYI. But he did add that Bitcoin had almost certainly seen its early top, referencing the 31 ,800 local highs back from July of this year. Now, as reported by Cointelegraph, opinions on where the Bitcoin price action will go into the 2024 block subsidy having differ from analyst to analyst. Some argue that the modest gains will be all that the hodlers will see before the event scheduled for April of next year, again, roughly six months out. We also have Phil B. Philby, co -founder of trading suite Decent Trader. He delivered a $46 ,000 target for the halving with $36 ,000 slated for year's end. What are your thoughts surrounding these two targets? Do let me know. Meanwhile, CryptoCon summarized that 2023 Bitcoin's price behavior as a full market fake out, putting him here. This makes it appear as if the bull market has begun with the trigger of many signals. But then at some point, the price fails to continue. This is the most convincing example we have seen of this yet. And personally, I think there is still some time to go for that. And I am patiently awaiting its completion in which he shares alongside the Bitcoin one -day candle chart. Now, as we know, we'll see where the Bitcoin price is likely to go next. But now the million dollar question, when are we likely to finally get a Bitcoin ETF spot in the United States as they have been getting denied now consistently for over a decade with the first app being submitted by the Winklevoss twins, owners of the Gemini exchange? Because we all know fact there is a lot of money on the sidelines. In fact, analysts are predicting over 30 trillion will be ushered into the Bitcoin price and the market cap as soon as this does get the approval. But when is the million dollar question? So let's discuss when the spot Bitcoin ETF followed by a prediction of the Bitcoin price soaring 60x from the current price action to one and a half million dollars per coin. Then we'll dive into our live Q &A. So the first spot Bitcoin ETF app was filed in July of 2013, literally over a decade ago. Fam, I'm not exaggerating. It was denied in both 2017 and 2018. A decade has since passed since the initial app. Now the SEC had rejected more than a dozen additional apps and repeatedly punched the date for deciding on others. I'm sorry, punted, meaning they continue to push it back. The ETF saga's latest interaction saw Bitcoin jump more than 6 % as industry advocates celebrated a court ruling that affirmed what we already knew, that the SEC's rejection of the Grayscale ETF app was arbitrary, 100%. This was of course followed by the SEC delaying its decision on all seven pending Bitcoin ETFs and a subsequent price drop. Now we wait as the SEC deliberates on its next move surrounding the Grayscale pleads for approval. Now to a degree, the case for Bitcoin ETF makes sense in the spirit of adoption. The $7 trillion ETF industry is ripe with investors still on the crypto sidelines awaiting for a product that would grant them Bitcoin exposure without having to buy Bitcoin directly and set up a wallet. Plus as a community that's fought long and hard to have digital assets taken seriously, the crypto world is inclined to welcome the validation that the United States ETF would signal. 100%, when are we going to get that? But crypto, Bitcoin especially, is predicated on the need for an alternative financial system, one that enables the financial sovereignty, transparency, and consensus that traditional finance is glaringly lacking. The crypto industry's eagerness for an SEC ETF approval feels like a step backward akin to the American revolutionaries begging parliament to intermediate colonial tax collection and rejection of its imperial rule. And as Michael Saylor points out here in this tweet, BITO had underperformed Bitcoin by 28 % year to date. This is why we need a spot. Bitcoin ETF preach. And again, Michael Saylor says the Bitcoin price can soar to $5 million per coin just on the back of the three catalysts I mentioned earlier. And mainstream adoption is a ubiquitous goal amongst crypto champs. And the SEC sign off on a Bitcoin vehicle that resonates with trade fi is ostensibly a fast track right to it. But fighting for approval from an opaque centralized agency for an intermediated investment product belies our industry's purpose. And frankly, it's unnecessary preach. The irony of cautious investors waiting to buy Bitcoin ETF shares rather than taking the safer route of buying Bitcoin directly is palpable. ETF bears many layers of counterparty risks, including the sponsor custodian and other partners. We saw how catastrophic this type of risk can be to crypto during the latest contagion when customers lost more than $10 billion within months because they trusted third parties. Now, though the contagion appears to have dwindled, the major takeaway remains. If you don't have the private keys to your Bitcoin, your assets aren't in your control, and they may not even exist. Facts, not your keys, not your cheese fam. As we preach here on the channel, those of us who witnessed the fallout up close know this, but investors who have been waiting on the sidelines for the ETF likely do not. It is our job as industry builders and veterans to help the newcomers understand the new degree of security and risk aversion that Bitcoin technology enables. The downside of a spot Bitcoin ETF runs deeper than the conceptual contradiction of the unknowingly purchases of a riskier investment. The potential cost of the crypto movement is immense. Take, for example, BlackRock iShares Bitcoin Trust, the announcement of which drove the Bitcoin price to one -year high in June. However, perhaps blinded by the prospect of monumental institutional inflows, much of the Bitcoin community, myself included, has thrown its support behind BlackRock's iteration of TradeFi 2 .0 haphazardly disguised as Bitcoin conviction, and buried within BlackRock's submission is a clause on hard forks, which you may not know about. Quoting them here, the sponsor use is discretion to determine which network should be considered the appropriate network for the trust purposes, and in doing so may adversely affect the value of the shares. There is no guarantee that the sponsor will choose the digital asset that is ultimately the most valuable fork. The sponsor may also disagree with shareholders, the Bitcoin custodian, and other service providers, the index administrator, crypto exchanges, or other market participants on what is generally accepted as Bitcoin and should therefore be considered Bitcoin for the trust purposes, which may also adversely affect the value of the shares as a token. However, the sponsor uses the consensus mechanism for a protocol that has already been well -defined and battle -tested mechanism. So it's going to be interesting to see how this all plays out for the major institutions around the world. We know the BlackRock track record is literally 575 to one, meaning the SEC have approved 575 ETF requests, and I've only ever denied them of one. The possibility and likelihood of an ETF being approved by BlackRock I'd say is extremely high, but it takes us back to the million -dollar question, when? If I was to put a date on it, I'd say likely. Sometime in 2024, as ETF experts and analysts are currently predicting, including Eric Valchunas, says there is a 95 % chance of a spot ETF being approved in 2024, and I believe he gave it a 75 % chance of still being approved by the next deadline, which is October. Putting on my Nostradamus hat, I think Gary of the SEC are going to likely push back and punt the deadline once again until next year. But that's my two Satoshi's. Let me know your thoughts, fam, in the comments right down below. And now let's break down our final featured story of the day, and that's the BlackRock Bitcoin spot ETF unlocking literally $30 trillion of value into the crypto market cap. That's right. According to Bloomberg, ETF analyst Eric Valchunas' approval of a Bitcoin ETF could potentially be the game changer in unlocking vast reserves of capital for the crypto market. His analysis estimates that $30 trillion worth of assets controlled by the US financial advisors could be funneled into Bitcoin investments if a spot ETF green is signaled by the US SEC. So let's discuss this domino effect of BlackRock's controlling over $9 trillion in assets under management. We all know they submitted their app for the Bitcoin spot ETF last month, significantly shifting the probability landscape. According to Valchunas, the chance of a spot Bitcoin ETF approval soared from only 1 % to over 50 % following BlackRock's involvement. And as I broke it down for you, he's now saying 75 % chance this year and 95 % chance next year. And quoting him here, their application triggered a wave of similar filings by other prominent firms, such as ARK Investment, Valkyrie, and Fidelity, setting the stage for a highly competitive environment. That's right. Now, Fidelity, I believe, is the second largest asset manager in the world that currently controls over $4 trillion in assets under management. And although Bitcoin futures ETFs do exist in the US, they pale in comparison to what a spot ETF can bring to the table. So currently, these futures -based ETF accounts for only about $1 billion in total assets under management. Valchunas describes the approval of a spot Bitcoin ETF as the holy grail that would dwarf the current offerings and galvanize the crypto market like we have never seen before. So send it and let's freaking go. Also, a spot ETF would not only benefit Bitcoin, but also serve as a boost for the rest of the crypto industry, solidifying the assets class position and mainstream finance. And as they say, a rising tide raises all ships, so not only Bitcoin, but the entire crypto market would obviously benefit the approval of a Bitcoin spot. ETF stands on potentially transformative moment for the American market, with at least 10 firms currently in competition, and astronomical sums are at stake. The race is currently heating up. BlackRock haven't already partnered with Coinbase in 2022 to offer institutional clients crypto access to launching its own spot Bitcoin private trust, appearing to be at the vanguard of the financial revolution. So with trillions of dollars in play, the implications for Bitcoin and the broader crypto market are currently colossal. The clock is ticking and the world watches with bated breath as regulatory decisions loom on the horizon. So there you have it. I also want to mention, if you'd like to watch this, Eric Valchunas, the analyst from BlackRock, talking about $30 trillion entering the market upon the approval of an ETF, check the show notes below the video in the description. And I also want to talk about, off of the news, which was shared last year, that BlackRock could team up and partner with Coinbase as a custodial, we had some predictions of a $773 ,000 Bitcoin price. So I'd like to break down the math and where these numbers have come from. So quoting Invest's answers from his forecast, which he made on his channel, that Bitcoin price is going to go parabolic off of this news, quoting him here, if BlackRock were to place just a half a percent of its assets under management, Bitcoin's market cap would be affected by an increase of over a trillion dollars. This would add about $75 ,000 to the Bitcoin price. Bitcoin, which is in the $23 ,000 band at the time he made the prediction, will make its way to about $98 ,000 per coin. This is 326 % more than today's price. And it is very, very achievable. So let's talk about it more long term. So he also stated that if BlackRock stands out with an asset value of $10 trillion, put 1 % of their funds into Bitcoin, the leading crypto would be worth more than $150 ,000 per coin, quoting him again, now if they allocate a 1 % stake, which will of course take time to reach this level, that would add about $2 .1 trillion to the market cap and $150 ,000 to the Bitcoin price. And that would push Bitcoin's future price to $173 ,000 per coin. The profit for Bitcoin here is 652%. And the analysts also stated the Bitcoin can rise to as high as $773 ,000 if BlackRock allocates just a 5 % share. But on the other hand, this estimate can be considered to seem quite maximalist in the current situation. However, according to the crypto analysts, between the next three to five years, the price will be achievable at these levels, quoting him again, if as analyst Dan Tapiero said, they add 5%, which I think is very aggressive, maybe with time, maybe in the next three to five years, it will be possible. This will quite easily push the price of Bitcoin to $773 ,000 per coin in the next three to five years. So there you have it, fam. Let me know if you agree or disagree with the analysts. Do you think the approval of a spot Bitcoin ETF in the US will help usher in literally, literally $30 trillion into the market considering the current Bitcoin market cap is only $500 billion? That's roughly 60x. So if you take today's price of $26 ,000 and times that by 60x, we get above a $1 .5 million Bitcoin price. And don't forget to check out CryptoNewsAlerts .net for the full premium experience with video and to participate in the live Q &A. Thank you.
A highlight from Ep. 562 Our New Co-Host A Crypto Analyst Joins the Team!
"All right, everybody, welcome back to another episode of the Crypto 101 Podcast. It is a big, big day in Crip Nation. Man, sound the alarms, bang the pots in the pans because it is a momentous occasion. We are joined by a new co -host, or I should say I am joined by a new co -host, Brendan Veman, who has been working with us behind the scenes at extreme length for the past two years. He's getting called up to the big leagues. So, Brendan, dude, welcome to the Crypto 101 Podcast. This is your new home, brother. Welcome. Hey, excited to be here. Like Bryce said, it's crazy because I've been working with you guys for almost two years now, and it's been awesome. Excited to come to the forefront. Excited to connect with more people in the cryptocurrency space and preach the great gospel that is crypto and blockchain. Yeah, dude, this is awesome. I'm so, so pumped. I learned so much from you, so I view this as just great for opportunity this podcast to just get kicked up to another level. I've been following you for a long time. I'm very pleased that you've been choosing to work with us. Man, we're going to have an awesome time. I want to make this episode all about you. I know that we've had you on previous episodes, so I think anybody who has been watching religiously for the past couple months or so, they've for sure run into you. But I want to have them all hear it from the horse's mouth. So, Brendan, this is your episode. We're going to introduce you to Crypt Nation if they don't already know you. So I'm going to ask you some questions. You feel good about that? You feel okay revealing a little bit about who you are? Yeah, I'm ready for the barrage of questions to begin. Awesome. Let's just start off high level. So what do you do? Who are you? What do you currently do? How did you make it on the Crypto 101 podcast? Yeah, man. So I started off in the early days of Bitcoin. My realization point or what got me interested is that I found this thing early. A lot of people around me had unpopular opinions, or maybe at the time it was popular opinions, but they were more anti -crypto. That motivated me and inspired me to really dig into this thing more. And so I did. And so as the years went on, like a little hot button issue, and you were like, oh, this is kind of getting people's gears going. There must be something here. Is that kind of what it is? Yeah. I mean, exactly. Like at the time, Bitcoin was worth a couple of times more than what the US dollar was. And it was this asset that just stood out. And me being the curious individual that I was, was like, hey, this is making people angry. It has a crazy pairing against fiat currencies. Like, let's really explore this thing. That's where I found my base. And so as the technology expanded and grew over the years as blockchain tech really begin to kind of, I guess, show its fruits. And then you had Litecoin and Ethereum and Monero and all those early stage cryptos really began to show just how versatile and helpful blockchain could be. That is when my interest in crypto went from just kind of this side interest, the side hobby to like, hey, this is going to really change the world as we know it. And that leads me to starting the crypto analyst YouTube channel in 2017. That's how I found you. Yeah. And I, and I'll tell you why I started that originally because I had so many people around me not understanding crypto. Crypto wasn't super mainstream yet. It was a kind of on that brink of that big bull run that it had, but I was still getting the same questions asked to me all the time. And I'm - I'm pre -recording answers for family and friends, go to my YouTube channel, and then it just kind of caught fire. I mean, exactly. That's kind of what it came down to is, here are all the answers that you're going to ask me anyway. And so that's really why the YouTube channel originated, but also because I love talking about it. I loved it. I believed in it. And also I didn't want to answer the same stuff all the time. So I was like, boom, YouTube channel is born. And that was like my real step, like full time. I'm into this thing. I'm committed. Like, here we go. And you know, man, I've ran that every single year. I mean, I have over 750 public videos now since 2017. We're at 10 ,000 subscribers. Like it's grown into a really cool thing. And, you know, occasionally I still see people that are from the very early days of that come around and they're like, Hey, Brendan. And it's great to see the community go strong as we are over here. So, you know, we're going from one strong community to another and the mission is still the same. Yeah. No. And it's been awesome working with you for the past couple of years here. And for folks who are listening, you don't know, behind the scenes, we've got, you know, premium subscriber only content that we roll out every single day, every single week. Brendan has been hosting live streams with me. He's been doing all sorts of amazing, you know, written and video content for the Crypto 101 University video course that we have. So if you want to check all that stuff out, we will link to it in the show notes. All the stuff we've been working on and the Crip Nation private group, guys, it's an incredible community that Brendan and I have been building up for, you know, along with our whole team here for the past several years. And we're so excited to be bringing Brendan to the Crypto 101 podcast. And with that being said, Brendan, I want to ask a little bit of a lightning round sort of rapid fire question and answer. How do you feel about that? I kind of prepared some things. I know I didn't show you ahead of time. I want it to be surprising. Does that sound okay? Let the surprises begin. I will do my best. Okay. I've got a long list. And so this is going to go quick. And when I say one word answer, I mean, one word answer. I don't want you to go off off the rails or anything. Maybe if you need two words or I'll give you three is the most. Okay. No tangents. Okay. No tangents. So I'm going to start easy and then I'm going to ramp up. So first is like Bitcoin or Ethereum. Ethereum. Okay. And by the way, I almost started the tangent I'm breaking my rules, but these will definitely inform all of us of really who you are and how you think. And this is on the record. So I want you to know that. So you say Ethereum, the next question I had after that was proof of stake or proof of work. What do you think is better? See the one world answers are already killing me here. We'll go with proof of stake. I'm sorry everyone out there. Then you choose proof of stake, which is the consensus model that it uses. Whereas Bitcoin uses proof of work. Let me ask you when you're analyzing the crypto markets, if you had to choose one technical analysis or fundamental analysis. Man, technical is all the way. I'm a trader at heart. Yeah. What I always say is price is the final arbiter. Price knows everything. Good fundamentals kind of put you in the same place as good technicals. So price should have all the information. So I would probably side with you on that one. Let me ask you this, trading or holding, what is your style? Trading. I'm a trader at heart. Okay. You're quick hot potato. Timeframe trading daily or monthly? Daily. Okay. Making trades daily, closing positions out. Leverage or no leverage? Oh, one word answer to this one. Leverage yes or no. We'll go with no leverage. No leverage anymore. Honestly, a man after my own heart. I've always advocated to stay away from the leverage. There's a great quote that it's like a Warren Buffett quote about the way people go broke is like ladies, liquor and leverage. And that's like the three ways that men go broke, ladies, liquor and leverage. So stay away from the leverage. But let me ask you this, what's your favorite exchange? Kraken recently. Okay. Kraken. I'm a big Kraken fan, but favorite wallet. I'm going to roll with MetaMask. I'm going to roll with MetaMask. I don't think I expected that. I don't think I expected anybody to like MetaMask, but here we are. God bless them. Everybody uses them. I think they've been getting better. Yeah. They've been getting better. I agree. And I have to say recently I've been liking treasure wallets. Obviously they're safer, but I've been really digging them, especially more than the nano ledgers. I have both and treasure has been standing out to me. Okay. I like it. It's a hot take. Trezor. T -R -E -Z -O -R. Kind of a play on words of like a treasure chest, right? Where all your crypto gets stored. Let me ask you this, Brendan, your favorite dap, and I'll restrict it to your favorite dap. DeFi Okay. Hot take here as well. I'm going to roll with, I think most people would expect maybe like Uniswap, but I'll roll with Osmosis here. I'll throw a wrench in everything. Hold the door. Hold the door. I did not expect it. I did not see that coming. That's a great pick though. The cosmos decks, the cosmos DeFi one -stop shop. Osmosis. Hot pick.
A highlight from 1391: Bitcoin Will Skyrocket 100x or More - Max Keiser
"In today's show, we're going to be discussing the Bitcoin chart. And check it out, Andrew Tate says the first thing on his brain right now is estimating the SEC approval of a Bitcoin ETF. Also breaking news just in, JPMorgan Chase says the SEC will likely approve the grayscale spot Bitcoin ETF. Send it and let's go. We'll also be discussing Bitcoin's largest accounts. I'm going to be peering into the top 10 wallets on the Bitcoin rich list. We'll also be discussing Binance CEO CZ forecast DeFi outgrowing CeFi over the next bull run. I'll also be sharing Bitcoin continuing to outperform Warren Buffett's portfolio. And the gap is set to widen as well as Cathie Wood of ARK Invest is bullish on Bitcoin as well as AI convergence. And quoting Max Keiser, one Bitcoin equals one Bitcoin. Nothing is more stable. The volatility is caused by the unstable fiat money world collapsing in real time. Understand the difference. He also says that Bitcoin is the currency of the resistance. It's a peaceful revolution and no one will benefit more from Bitcoin than the poor. I'm also going to be sharing with you his multi seven figure price prediction for the king crypto. As he says, the Bitcoin price will continue to outperform everything else by a factor of 100X. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show.
A highlight from 1387: One Bitcoin Will Be Worth $1 Billion By This Date - Fidelity
"Let's get it. In today's show, I'll be breaking down the latest technical analysis, as well as breaking news. Google Cloud to digitize El Salvador's governance, healthcare, and education, as well as Elon Musk's ex moves closer to crypto payments with their newest state license they just received, as well as breaking news. The SEC's first deadlines to approve seven Bitcoin ETFs are coming over the next week. We'll also be discussing Grayscale's roadmap to a Bitcoin spot ETF following the most recent SEC triumph, as well as Fidelity, one of the world's largest asset managers that currently control over four and a half trillion in assets under management are predicting a $1 billion price action for each Bitcoin. In fact, did you know they started accumulating Bitcoin all the way back in 2014, literally almost a decade ago? We'll also be taking a look at overall crypto market, all this plus so much more in today's show. 87. That's right. I'm your host JV. And we have a jam -packed session for you today. Looking at the market watch here, we can see Bitcoin after almost staying above 28 ,000. Unfortunately, it broke that support and we're back down to 27 ,200 at this time, but Ether also back in the red down 2 % for the day trading at just above $1 ,700. And checking out coinmarketcap .com, we're barely sitting above a trillion dollars, which is that milestone we've been sitting at for quite some time regarding the overall crypto market and about 34 billion in volume in the past 24 hours with the Bitcoin dominance at 48 .9 % with the Ether dominance at 18 .9%. And checking out the top 100 crypto gainers of the past 24 hours, we have XDC up 8 % trading at 6 .4 cents, followed by TonCoin up 6 % trading at $1 .75, followed by BlockStax up almost 3 % trading just under 53 cents and checking out the top 100 crypto gainers for the past week. Yesterday was a sea of green as the price action pumped literally $2 ,000 in a span of 30 minutes off of the news of the SEC losing their trial versus grayscale with the conversion of the GBTC product into a spot ETF. But today we have corrected some with HEXB crypto greed and fear index. We're currently rated a 49, which is neutral. Yesterday was a 39 in fear last week at 37 and last month a 50, which is neutral. So there you have it. How many of you are currently bullish on the king crypto? Let me know. And how many of you are anticipating a lower price action so you can keep stacking them sats on the low? Holla at your boy. Now let's break down today's Bitcoin technical analysis. Check out the charts and what is popping right now in the markets. As you can see here, Bitcoin drifted towards $27 ,000, which again, we're just sitting above $27 ,200 at the time of this recording. At the Wall Street open, the dust settled on the digital asset manager, grayscale's legal victory. Here you're looking at the Bitcoin one hour candle chart. Now data from Cointelegraph showed a positive verdict for grayscale against US regulators, sparking almost 8 % gains. Bitcoin managed to tap $28 ,100 on Bitstamp, its highest in almost two weeks, before returning to the current level. So despite closing the daily candle above two key moving averages, these had yet to return as definitive intraday support. And on the day, analysts were quite cautious. In a quick take post from on -chain analyst Crypto Quant, he goes on to share, noting that the grayscale move had originated on derivative exchanges. So despite funding rates remaining fairly neutral, there was a clear absence of value. However, it is difficult to see that the spot exchange led the price increase when the Bitcoin price rose yesterday. The reason is that the trading volume ratio shows that it had decrease rather than increase. Now additional data showed trading volumes were still below those seen during the upticks of earlier this year, quoting them here. Of course, there is a tendency for prices to change significantly, even with small trading volumes, because of the overall liquidity in the crypto market, which has decreased. However, it seems that there is a need to be a little cautious about the fact that this rally leads to a dramatic rally. Now let's discuss many similarities to Bitcoin's all -time high. According to crypto analyst Brett Capital, quoting him here, we're seeing many similarities between the double top of 2021 and what we're seeing right now, he warned. Should the similarities play out and Bitcoin produce a full fractal, 26 ,000 would flip from support to resistance to initiate further downside. So for the time being, we're seeing a lot of signs really playing into all of this in which he reiterated alongside this chart. Now, another target analysts are talking about right now is 23 ,000 becoming increasingly important. Rec capital likewise flagged that level of 23K as a prominent level versus the 2022 bear market bottom structure and inverse head and shoulders pattern, as he mentioned here, that's the level that we can see the price rebound from. So there you have it. Let me know if you feel we're likely to drop sub 25 ,000, potentially touch 23 before rising back up. Or do you think we'll take off from here, off of one of the biggest news stories of the year, which is a big fat L for the SEC and a big fat victory for the entire crypto industry. Let me know your thoughts. And with that being shared, fam, now let's discuss breaking news coming out of El Salvador with Google, which is actually quite interesting. Yesterday, I saw Nigel Bokele made a tweet and this is what it was in regards to Google Cloud announced a new partnership with the government of El Salvador. Interesting, right? On August 29th to establish an office and provide Google distributed cloud services in their country, the partnership aims to digitize the country, update government services and improve the healthcare and educational systems. The GDC will also help bring infrastructure closer to where data is generated for El Salvador. Bokele, the country's president said he believes El Salvador is quickly becoming a hub for innovation. As he shares here, El Salvador is moving forward. We believe technology and foreign investment are key for development. And here's where he announced the partnership in this, I shouldn't say tweet anymore, but on this post on X quoting Bokele, Google plans to establish operations in El Salvador and he shared the official press release from Google. Now, Thomas Curain, the CEO of Google Cloud said he believes cloud computing can truly transform Latin America. As shared here, access to cloud computing has dramatically expanded across industries and regions throughout the world, he said, enabling both small companies and the public sector to utilize the very same apps and services as more mature markets. Now, Cointelegraph also reached out to Google Cloud for additional comments on its recent expansion. The additional GDC infrastructure will help support El Salvador's active stance on Bitcoin adoption and integration into society. It allows for Bitcoin full nodes with ordinal protocol support. And additionally, back on August 8th, a few weeks ago, El Salvador granted the crypto exchange Binance a license to offer crypto services to users in the country. Bitcoin had began as legal tender in El Salvador back in 2021. And recently the Bitcoin Beach Initiative took to the classroom and taught over 25 ,000 students about Bitcoin, helping them earn a Bitcoin diploma via the country's educational system. The country has already seen immediate returns on the program with the example of one teenager who earned the diploma and then returned to his former school to teach the educators about the digital asset. That's what's up. I think mass adoption is likely to continue, especially in places like El Salvador that are ahead of the rest of the world. And I think more and more major companies are going to be opening up shop because it just makes so much sense. Why wouldn't they? That's why Binance just got their license. Jack Mallers Strike Company just got their license. Bitfinex got their license and they're opening up shop. And I believe that the Bitcoin game theory is in full effect and will continue to play out as the days go by. And with that being shared, fam, now let's break down our next story of the day. As you probably know, major news was actually released yesterday regarding X, which is the platform owned by Elon Musk to integrate crypto payments. We made a pretty big development, so let's break this down before we dissect the ETF deadlines. Rhode Island's regulators have granted X, formerly known as Twitter, a currency transmitter license, marking a step forward for the company's foray into the financial services sector. The license is legally required for companies conducting financial activities on behalf of users related to sending and receiving money, a definition that includes both fiat as well as crypto assets. Now, this approval will allow for X to custody, transfer and exchange digital currencies. Now, X's Rhode Island currency transmitter license was approved on August 28th, two days ago, according to the nationwide multi -state licensing system, NMLS. The move marks an important step forward for Elon's push for X to become an everything app, which would include crypto as well as fiat payments. Now, naturally, social networks like X are massive, so this could help usher in that mass adoption. Now, while sources have suggested that X's upcoming payments feature will initially only offer support for fiat currencies, Elon had reportedly instructed developers at X to build the platform's payment system in such a way that crypto functionality can be added into the future. Yeah, if you're not integrating Bitcoin into your payment system, then do you even have a payment system for the future as Bitcoin is the future of money? Just saying. The approval comes nearly two months after X secured money transmitter licenses, also in Michigan, Missouri, and New Hampshire, which were well -approved on July 5th. X's latest license marks a total of seven American states it secured transmitter licenses in, so my guess is they're going to have to continue getting more and more licenses for all the states. It remains unclear exactly what financial offerings will be made available if and when X rolls out their payments feature. People familiar with the company's plans have indicated that X will initially offer fiat currency transaction services similar to PayPal, which Musk co -founded with room for future crypto integration. Do you think Bitcoin will likely be an announcement that they will be accepting crypto payments? I mean, who cares about Doge if you don't have Bitcoin integrated? So, I feel Bitcoin is a given if they're going to be integrating crypto and it seems to be going that way. But how do you feel this is likely to play out? Let me know your honest thoughts in the comments right down below. And now let's break down everything you need to know regarding the recent spot ETF deadlines for the United States and regulators. And after we discuss all these deadlines, we're going to specifically be talking about the GBTC Grayscale product, getting that victory over the SEC and what that means moving forward with the Grayscale Bitcoin ETF. And then we'll be dissecting Fidelity, one of the largest asset managers in the world, and their $1 billion Bitcoin price prediction. And then we'll wrap up with our live Q &A. So yeah, let's discuss this. The US SEC is facing its first deadlines to decide on seven spot Bitcoin ETF apps, with the latest being September 4th, which is what, virtually five days away amid its defeat to Grayscale Investments in the US Federal Appeals Court. Investment firm Bitwise will learn if its ETF will win the SEC's approval September 1st, which is what, two days away. While BlackRock, VanEck, Fidelity, Invesco, and WisdomTree will all be awaiting the SEC's decision for their funds by September 2nd, three days away, according to several SEC filings. So, that's right around the corner. It's going to be a big week. Meanwhile, Valkyrie is set to hear back from the SEC on September 4th. The US Court of Appeals ruled on August 29th that the SEC's rejection of Grayscale's app to convert their GBTC into a spot Bitcoin ETF was arbitrary and capricious. But this doesn't mean that the SEC must approve Grayscale's app or others in the future, says Bloomberg ETF analyst, James Safart. And in August 29th Bloomberg Review, he explained that Grayscale's win will definitely increase the odds of a successful outcome for the SEC. But he is unsure when that day may come though, as the SEC can delay his decisions and has two more proposed deadlines for each fund before being forced to make a final decision on the 240th day post filing. Now, what a shame it would be if they make us wait the 240th final day before giving an answer. But hey, don't run it by them. I mean, don't put it past them, especially with Mr. No Clarity Gary as the chairman. But anyways, for the awaiting applicants, the final deadlines for the SEC are all in mid -March of next year. And as someone shared here, odd and free, 99 .9999 % chance that the world doesn't know that the SEC has to decide on seven Bitcoin ETFs within the next three days. And this does include the largest asset manager in the world, BlackRock, Bitwise, VanEck, WisdomTree, Investico, Fidelity, and Valkyrie. The suits are at our doorstep per each. And how many of you weren't aware of that, that the decision within the next seven days is going to be on those seven major asset managers. Now, after the August 29th ruling in favor of Grayscale, the regulators have 90 days to file an appeal with the US Supreme Court or apply for an en banc review where the full circuit court can overturn a ruling made by a three judge panel. However, the SEC hasn't made clear what the next move will be. If the SEC doesn't appeal, the court will need to specify how its ruling is executed, which could include instructing the SEC to approve Grayscale's app or at the very least revisit it. But either way, Safer only saw two viable options for the regulator. The first option is to concede defeat and approve Grayscale's conversion of its GBTC as a Bitcoin spot ETF. But alternatively, the SEC would need to revoke the listing of Bitcoin futures ETFs entirely or deny Grayscale's app based on a new argument, says Safer, quoting him here, the second potential avenue is to deny on reasons not used before yet, which I have been saying for months could have to do with custody or settlements of Bitcoin, which is not something that futures ETFs have to worry about. The SEC has made a lot of noise around custodians. However, fellow Bloomberg ETF analyst, Eric Balchunes, considered the odds of the SEC revoked in the Bitcoin futures ETFs as highly unlikely because of the SEC reported openness to Ethereum futures ETFs, in which he makes a great point, quoting Eric here. This guy turned the last paragraph of Judge Rao's legal smackdown today into a MGMTS stylish banger, really captures the modern. Well done. Well, so there you have it. I guess this is some song I haven't even listened to yet. So I'll jam to it a little later on. We'll see if it's any good. But anyways, fam, how do you think this is likely to play out by the SEC? Do you think they're likely to approve any of these seven ETFs or do you think they'll just continue to push it back until next year? Let me know your honest thoughts in the comments right down below. Now let's dive deeper with the latest breaking news regarding the grayscale ETF and their conversion of their product into a spot ETF. And did you know that their product literally has over 600 ,000 BTC? Hence, they'd be the perfect candidate for a spot Bitcoin ETF because they already hold the underlying asset. They don't need to purchase it. So I mean, they'd be a prime candidate along with BlackRock. Which one will get approval first is the million dollar question, but let's break it down. In a seismic shift for the Bitcoin industry, the DC Circuit Court ruled in favor of grayscale investments yesterday, which is breaking news, which we've been hearing all across social media. Now, Jake Stravinsky, the chief policy officer at Blockchain Association, described the ruling as massive, emphasizing it's extremely rare for a federal circuit court to find an agency like the SEC in violation of the Administrative Procedure Act. Stravinsky stated that the DC Circuit soundly rejected the SEC's view that grayscale's ETF proposal was not designed to prevent fraudulent and manipulative acts and practices. So good for them. He also pointed out that the court did not order the SEC to approve the proposal, but rather mandated a review of grayscale's proposal with the court's ruling in mind. Stravinsky speculated on two possible scenarios for the SEC's next steps. One theory suggests the SEC could find another reason to include no clarity Gary towards crypto. And alternatively, the SEC might take this as a semi graceful exit from their anti ETF stance, especially under political pressure from traditional finance sectors ready for a Bitcoin ETF as we are long overdue. They first rejected the first Bitcoin ETF for a spot in the United States over a decade ago. And the app was from the Winklevoss twins with Gemini, just FYI. Now, many other issuers have proposed ETFs this year, include BlackRock and Larry Fink throws heavy punches in DC. Therefore, here's what the lawyer thinks. The only question is if the SEC wants to make this more painful for itself. Trust me, if there is another denial, there'll be another lawsuit. I strongly recommend that the SEC picks sooner. Let's see. Now, James Safart, the ETF analyst over at Bloomberg, corroborated the significance of the ruling stating it's a complete and utter rebuke of the SEC spot Bitcoin ETF denial orders. And quoting him here, I was initially thinking something like a deadline of 45 days or 60 days, but nothing in here saying that. However, he noted that the SEC has 45 days to file for that en banc hearing, which would involve all 17 judges on the court, good Lord, as opposed to the initial subset panel of only three judges. The Bloomberg analysts also outlined two main motions for the SEC. If they still wish to prevent the spot Bitcoin ETFs from listing, they either need to revoke the listing of Bitcoin futures ETFs or denied based on new reasons, possibly related to custodial or settlement issues, which have been a focal point for the SEC staff accounting bulletin 121. Now, Adam Cochran, partner of CEHV added another layer to the timeline speculation. He alludes to the SEC's pending decision on six other Bitcoins spot ETF filings due by September 1st for Bitwise and September 2nd for BlackRock, Fidelity and others. Here's what he had to share. Some folks are getting ahead of themselves thinking that grayscale decisions means bulk approval of ETFs by this Friday. Likely not the case. My hunches were looking at a late October, November timeline for an approval still, unless the SEC appeals in which case next spring. Now I'm not a gambling man, but if I was a gambling man, I just want to throw out there. I don't think the SEC has any intention to approve a spot Bitcoin ETF in the United States anytime soon because their actions demonstrate the complete opposite. The only thing they have interest in approving are more futures ETFs so they can continue to manipulate the markets through derivatives, which are financial weapons of mass destruction. Quoting Warren Buffett, it is what it is, but nonetheless, this is still a victory overall because they could only push it back for so long. And especially with BlackRock demanding, I shouldn't say demanding, but in so many words, they're the one that started this domino effect with new ETF apps arising with the SEC. They are the largest asset manager in the world, controlling over $10 trillion in assets under management. So I think if Larry Fink wants something, it's going to get done. But the million dollar question becomes when? I think they're going to push it back this year and probably spring next year, we're going to finally start to see the approval of spot Bitcoin ETFs in the United States. And as soon as we get that approval, that can help usher in literally trillions upon trillions of dollars that are currently sitting on the sidelines directly in to the best crypto asset in the world, which is none other than BTC. If you'd love to see that happen, let me know. And by what date or deadline do you think we're likely to get that first approval? And you already know once that approval comes, money is going to start ushering in and the Bitcoin price is going to go parabolic and in perfect time because we also have another major bullish catalyst around the corner. Six months out, the scheduled halving is estimated to be sometime in April of 2024. So between the ETF apps being approved by the United States regulators and the Bitcoin halving, I couldn't be more bullish on Bitcoin right now, which leads us to our next story of the day, which is going to be a $1 billion prediction from one of the largest asset managers in the world, which is Fidelity. Let's break this down. Then we'll dive into our live Q &A. Make sure to say hello in the live chat. Let me know where you're tuning in from. A massive shout out to everyone interacting. I greatly appreciate all the continued support. So here we go. $1 billion. That's a lot of zeros. That is nine to be exact. In 2021, a billion dollars seems like a lot of money. FYI, Fidelity initially made this prediction in 2021. I also want to point out here from some tweets, Fidelity head of sales, quoting them here, we started mining and accumulating Bitcoin all the way back in 2014. I bet you a lot of you did not know that. This was kind of under the radar, but they have been accumulating BTC almost for the past decade. So is this a surprise that they're predicting a $1 billion Bitcoin price by 2038? They're putting their money where their mouth is. But anyways, we have Julian Timmer, Director of Global Macro Fidelity, believing that one Bitcoin could be worth $1 billion per coin by the year 2038. Send it and let's go. Timmer also believes that the orange coin could hit $1 million before this decade is over, which means by the year 2030, roughly seven years away. So that would represent a 20X multiple, the current Bitcoin market price of 48 ,000. But now obviously we're half that price of what we was. So that would now be 40X. And I know anyone can make predictions like that, but Timmer lays out his cause using his own valuation model and another well -known model, which we all know here on the channel, known as the stock, the flow. Timmer's demand model is based upon Metcalfe's law. Metcalfe holds that as the number of users of a network grows linearly, the value of the network grows exponentially. Thus, if the number of users doubled, its value would grow at four times or the square of two. Now Timmer's demand model grows steadily to about $1 million by the chart. Now, by contrast, now let's discuss the stock to flow model created by synonymous analysts. Plan B is based on the supply of new coins growing at a decreasing rate each year. This occurs because of the built -in happenings every four years. So given increases and adoption and demand, the result will be prices expanding exponentially. Indeed, the price of Bitcoin has grown approximately 10X every four years. Take that, Peter Schiff. These are facts, not just by 50 % slowdown in supply, pretty powerful stuff. That's right. Now, stock to flow predicts even faster growth in the price than does Timmer's demand model, especially after the year 2030. As I commonly cover here in the show, the stock to flow model is projecting roughly a half a million dollar Bitcoin price past the halving in 2024. In fact, the model shows a very wide array in their expectation, anywhere from a hundred thousand to a million dollars, with a half a million being dead in the middle, hence in a couple of episodes previously, if you missed it, we discussed Plan B's most recent prediction, which he shared on his YouTube channel, that he believes the Bitcoin price will be north of $530 ,000 per coin proceeding the Bitcoin halving in 2024. But let's get back to this math. This is the stock to flow model you're looking at right here. Now let's go back over here. This is some more insights. Timmer stated the value of the dollar changes in relation to other assets. And he further pointed out that just a dollar invested in stocks in the 18th century would be worth $4 billion in today's money. Isn't that insanity? Talk about super hyperinflation. So going by this assumption, $1 million in today's money can be worth a billion dollars in 20 years time. Good Lord. You better start stacking them now, fam. So changes in the dollar's value, especially depreciation over several decades, render the same amount with less purchasing power, which is why huge sums back then appear less by today's standards. For instance, $1 million can purchase a lot of significant things a few decades ago, but in today's perspective, reasonably higher end houses in the US cost between, I would say $200 ,000 and $500 ,000. The same $1 million may not suffice for the same class of houses today. This is a fact. Just here in Puerto Rico alone, I've seen the real estate market literally shoot up 100 to 300 % since moving to this island roughly four years ago. And that's not just an exception to the rule. It's all across the United States, hyperinflation. I mean, check out the rent prices. That will give us some insights to the true nature of inflation. You can check out Zillow, check out real estate five years ago in comparison today, and you'll probably see something quite similar. But anyways, there's an increasing number of billionaires across the globe. Facts. Some observers even believe we may see the first trillionaire in this lifetime. I think it could potentially be CZ, the finance CEO, or even Michael Saylor of MicroStrategy. Now, the same applies to organizations with several companies now passing the $1 trillion mark valuation cap. Fidelity previously pegged Bitcoin to hit $1 million in initial prediction made by Jerry and Timmer by the year 2035. However, he ultimately said, we're way too conservative. Let's move this target on up from $1 million by the year 2035 to $1 billion by the year 2038. So there you have it. Do you feel the Bitcoin price can likely exceed their conservative target of $1 million by the year 2030 within the next seven years and hit as high as $100 million to $1 billion per coin by the year 2038? Let me know your honest thoughts in the comments right down below. And don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
A highlight from How to Be in Sync with Market | Next Crypto Cycle | Is Ethereum Good Long-Term Investment?
"Hey guys, you are listening to the Tasha Labs podcast and as I mentioned last time, today I want to do a Q &A about some questions I received about the topic that we covered last time which is how to be in sync with market cycles or the market rhythm. So I got some interesting questions and I will be covering several of them including one question about how do you balance like being a contrarian versus going with the market flow. Secondly, there is a question about how can you also use some of the market cycle indicators to apply to individual stock or ticker or token. And certainly there is a question about is it a good idea to build models to automate some of these market cycle judgments. And lastly, I want to cover a question someone asked about longer term crypto cycles and how I think about like long term investing for crypto for like a bitcoin, ethereum, that kind of thing. Okay, so those are basically the things I'm going to go through today and first question it says you would advise to go with the market trend but the best investors are contrarians? Really? Like Warren Buffett said that when everyone else is losing their head you should keep yours. How do you balance between being a contrarian and going with the market trends? So first of all, I don't even know what a contrarian means unless you give me a very specific definition of what this person do. What does this person do in situation A and what does he do in situation B and that kind of thing like very quantifiable action. Otherwise, I just don't know what this means. People can post on Twitter all day long, oh market's too high, market's going to correct or we're at the bottom. People can spit out opinions all day long but unless they have an action plan attached to that opinion then I don't know what it means when you say someone is a contrarian and is he always a contrarian or just at some step of the market cycle that he becomes a quote -unquote contrarian because I can tell you for any type of investors no matter what your strategy or framework is at some point if you're doing your job about your market cycle analysis you will realize okay maybe this is the point and market will start to turn because you start to see some sign of market cycle turning but maybe the majority of trend the if you look at the price action is still going in the way of the previous trend. Do you call that a contrarian but you don't make that decision. You don't do that kind of judgment call every day. That's actually a relatively rare event and also that's one. There is no saying like you are contrarian and once and for all you are always a contrarian. Maybe there is a point based on your market cycle judgment and your framework, your assessment is that at current level maybe this price is going to correct or the opposite and the price is going to bounce and you have a strategy attached to it and that is different depends on what kind of investor you are, depends on your framework. For example, if you see the COVID -19 in March 2020 market was in freefall. Some people were shorting the hell out of the market but at some point maybe your market indicator says well the market is oversold we can be ready for a bounce guys so then our execution plan is to not initiate any short positions anymore and get ready to cover our existing positions if we see signs A, B, and C. That is a very specific action plan according to a very specific market judgment in terms of where we are in the cycle. Do you call that contrarian? Maybe because the market may be still falling but you see some sign of a market turning. But as opposed to maybe another type of investor who's more like a hardcore valuable investor would say we'll have the same judgment about the market say okay we think market is oversold here it's overreacting and it's overreacted too much and now it's a good opportunity to start looking for drastically undervalued asset to get them at a cheap price. And then that will be your action plan and you start looking for that type of things but that will be a very different action plan compared to the first type of investor even though you have broadly the same assessment about the market. Which one do you call contrarian? So I just don't find these very broad adages and general advice is helpful unless you put them in a specific context and because they're just not specific enough.
Monitor Show 18:00 08-25-2023 18:00
"Star team. Did I leave anybody out? I hope not. If I did, I'm just going to say it takes a village every day, every week, and we so appreciate them. Catch our weekend show, Bloomberg Business Week, as I said, 8 a .m. on Bloomberg Radio and our podcast feed. Jess, thank you so much for always jumping in here. Always a pleasure. We appreciate it, really. And check out Jess's story. It's going to be on the Bloomberg over the weekend. That does it for Bloomberg Business Week. I'm Carol Master with Jess Mattingen for 10 Stenebeck, Wall Street Week with David Weston. It starts right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This is a Bloomberg Money Minute. The company a lot of us turn to for grocery shopping and delivery during pandemic lockdowns had to move beyond that when its growth started to fade. So now Instacart focuses more on the consumer data it collects that helps grocery stores sell more. Instacart saw revenue grow by nearly a third during the first half of this year. Now it's getting ready to go public and that process could start next month. The April explosion that destroyed a SpaceX rocket in Texas shortly after takeoff destroyed a lot of other things, too. It left concrete chunks strewn across tidal flats. Federal wildlife officials have questioned whether they were blocked from the site. Elon Musk is notoriously private about company doings. SpaceX isn't commenting. On Wall Street, investors focused on Federal Reserve Chair Jay Powell, saying today what he said for a while about raising interest rates that the central bank will move carefully. That led to gains of about three quarters to one percent. The Dow up two hundred forty seven. The Nasdaq one hundred twenty seven. The S &P twenty nine. Joan Doneger Bloomberg Radio. You heard the phrase the voice of experience. You're the guy that made the bet with Warren Buffett. I get that that might go on my tombstone. There's actually more than one of them. Writing on Star Wars was crazy fun. The voices of experience tell their stories on Masters in Business. When I got hired in twenty thirteen.
A highlight from Did Fake Charities Net Dems 1.2 Million Votes in 2020? With Parker Thayer and Bernie Moreno
"The U .S. dollar has lost 85 % of its value since the 70s, when the dollar decoupled from gold, and the government seems bent on continuing the tradition. Charlie Kirk here. From now until after the elections, the government can print as much money as they want. The last time they did that, inflation went up 9%. Gold is the only asset that has proven to withstand inflation. Invest in gold with Noble Gold Investments. You will get a 24 -carat, one -fourth of an ounce gold standard coin for free. Just use promo code kirk. Go to noblegoldinvestments .com. That's noblegoldinvestments .com, the only gold company I trust. Hey, everybody. Today on The Charlie Kirk Show, Capital Research Center, Parker Thayer, comes out with an amazing report, How Charities Are Giving Democrats Political Victories. Email us as always, freedom at charliekirk .com and subscribe to our podcast. Open up your podcast app and type in charliekirkshow. Get involved with Turning Point USA Today at tpusa .com. That is tpusa .com. Start a high school or college chapter today at tpusa .com. Buckle up, everybody. Here we go. Charlie, what you've done is incredible here. Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's running the White House, folks. I want to thank Charlie. He's an incredible guy. His spirit, his love of this country. He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA. We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country. That's why we are here. Brought to you by the loan experts I trust, Andrew and Todd at Sierra Pacific Mortgage at andrewandtodd .com. One of the most important things we can do before we come up with a plan is we have to realize what we're up against. There's so much research to be done, so much research to be done about the tech companies, the oligarchs, the changing of laws, and something that has been staring us in the face, and there's been a fair amount of surface level reporting, is how 501c3s, something I'm very familiar with, are being used to assist the Democrat takeover of the country. Now, we run a 501c3, which is strictly educational. Anything that is for social welfare or political goes through Turning Point Action or Turning Point PAC. A new report by Parker Fair shows how charities secretly help win elections. This is extremely comprehensive. It's nearly 35 pages. He's an investigative reporter, researcher, capital research center, and I believe a graduate of America's greatest college, Hillsdale College, which explains why this report is so well put together. Parker, welcome to the program. Thank you so much for having me, Charlie. You did go to Hillsdale, is that right? I did go to Hillsdale. Makes sense. Okay, Parker, so walk us through this. I've read the entire report. I saw it on Twitter last night. I immediately texted our team and I said we need to go through this. Let's first start with the 501c3 component of this, because by law, 501c3s are not allowed to engage in political activity. What did your research find? Yeah, so just kind of a quick rundown for anyone who might not understand what a 501c3 is that's listening. 501c3s are charities, nonprofit organizations that have tax exempt status from the IRS. Think of your local church, that's a 501c3. Like Charlie said, Turning Point USA, that's a 501c3. Hillsdale College. Hillsdale College, there you go. Another excellent 501c3. What these 501c3s were doing that I found early years ago, this is the result of years of research, I found an organization called the Voter Registration Project taking in tens of millions of dollars every single year and distributing them to various state -level 501c3s that were doing exclusively voter registration. I dug around. I couldn't find any information about this. Nobody had talked about it. The media didn't talk about it. Nobody even seemed to know it existed. As I kept digging, I kept finding more interesting things. Eventually, I found emails on WikiLeaks from John Podesta's leaked emails back in 2015 that showed that this organization, going by the name of the Everybody Votes Campaign, which they didn't really share publicly until almost 2021, had been designed as a scheme essentially to guarantee a Democratic presidential victory in 2020. They were aiming to register millions of people in swing states and Democrats. So, Everybody Votes Campaign is scheme sent to John Podesta, head of the 2016 presidential campaign. And you detail the, first of all, the amount of money is $120 million. I think it's even more than that, but you're careful of just what you're able to prove. Is that right, Parker? Yeah. I mean, this is all we, I can't even tell you at CRC, we pride ourselves on doing excellent fact -based research. This has gone through many rounds of editing from very skeptical editors, $120 million in the 2020 cycle. They've raised more than that to date. But that's, you know, this is very provable and it's from all of the worst lefty billionaires and dark money organizations you can imagine. So, based on your research, these 501c3s that are prohibited from political activity, do you believe that they are, let's just say, pushing the boundaries and or outwardly violating the nonpolitical rule from the Internal Revenue Service for a 501c3? If there was a line over what they could do, which the IRS doesn't seem to enforce at all, but if there was a line, they crossed it very long ago. The IRS website says that these voter registration campaigns are prohibited from being partisan in either intent or effect. And I was able to prove both according to the estimates, which we ran based on, you know, leaked documents in these Podesta emails and from other sources. This campaign generated somewhere in the range of one to two million votes for Democrats in the 2020 cycle. One to two million votes in Nevada, Arizona, Colorado, Florida, Georgia. But let's just be more specific. Florida, I don't think they spent as much money. It's mostly Arizona, Georgia, Pennsylvania, Wisconsin, Michigan. Is that correct? Michigan, a little less so. But yeah, these are, it's exclusively swing states. They weren't, the campaign is called Everybody Votes. They didn't care about everybody's vote. They only cared about the swing state votes and only the votes that would benefit the Democrats. Yeah, if it was Everybody Votes, why weren't they doing voter registration in Louisiana? They weren't registering people in Alaska. They weren't in Oklahoma. Yeah, I mean, so this is, I want to read part of your report. By the way, this is what people say, Charlie, you know, where do you spend your money? I love Capital Research Center. All these DC think tanks, most of them are a waste of time. This is a report that will result in good things because now we have the data, right? Now, no more guessing. So I want to read this. This is, yeah, I saw that and I have some feedback. They've got to be careful to make sure those rules aren't wrongly enforced against the right, but that's a separate issue. But no, I saw, I saw Schweikert's letter. It's mostly good. But by the way, before I read this, in Schweikert's letter, foreign people might be funding this stuff. Is that correct? Exactly. People like Hansorg Wyss, if you've heard of him. Swiss guy. He's this four billion dollar crazy person from Switzerland who is funding 501c4s as well, right? Parker, not just C3s. We'll get to the C4 in a second. Yeah, he's the left's dirty little secret. They don't want anyone talking about him. Exactly right. Tell us about him. No, no riff on that. Oh, yeah. So Hansorg Wyss, he made his money as the, I believe, president and CEO of a company named Synths USA. They got in a lot of trouble for running illegal medical experiments. But he made, you know, millions of dollars and was then I think billions of dollars even. And it was eventually around 2009 was caught making illegal campaign contributions to Democrats, even though he was not a US citizen, doesn't even have a green card, according to his SEC filings. But he uses these 501c3s and 501c4s that we're talking about to put tens of millions of dollars into US politics in unbelievable ways every single year. He does not have a US passport. Everyone is clear. This guy is not a green card holder. He doesn't have a US passport. He's a foreigner who pumps money into domestic 501c3s, 501c4 organizations, hundreds of millions of dollars, correct? Over the last decade. Yeah. Well, and wouldn't you know it, this guy's foundation, that email I talked about where I found this initially from Podesta, this guy's foundation, Hansorg Wyss' foundation, was the one who initially sent him this idea for the VRP in the first place. And you're the only one that I've seen that has connected the Podesta stuff. By the way, Podesta just so happens to be running a press conference today. So I want to read this. This is the tough research. Again, this is public, but this takes hundreds of hours of consolidation. The billionaire club comes from Susan Thompson Buffett Foundation, the private foundation of Warren Buffett, $5 million. Foundation to promote an open society endowed by George Soros, over $10 million. Then Register America because of 501c4. Now, 501c4, they're more in safe harbor for political involvement in social welfare. But you have the Civic Participation Action Fund, the Wallace H. Coulter Foundation for deceased billionaire founder, the JBB Foundation, PB Foundation for billionaire Barbara Picower, and her late husband go on and on and on. You have pages of this. It's striking how the party allegedly of the little guy has so many billionaire oligarchs pumping millions of dollars of dark money into it. Yeah, these 501c3s are the left's, you know, they're their artillery battery that's just sitting back there delivering unbelievable amounts of money to the left's causes. According to the CRC studies, the studies that we've done of the spending in these 501c3 areas where private billionaires, private foundations, and things like that are putting money into politics. You know, the left's 501c3 power money -wise outnumbers the right almost three to one. Yes. This is where the money is really moving in American politics. This is what's so important, everybody. And by the way, they always project, right? So ProPublica, a bunch of interesting people, they wrote a piece on Turning Point USA. Yeah, they wrote a piece on us three years ago trying to insinuate that we weren't in a, you know, following 501c3. Not true, right? But they go hostilely aggressive against anything on the right. By the way, we do stuff on high school and college campuses, strictly education, all that stuff. And we have a C4. And yet they won't even lift a finger to look into this. And so let's talk about the consultant part of this. Tell us about it. So around 2020, I believe the number was about $20 million, if I'm remembering correctly. The VRP, or also known as the Everybody Votes Campaign, which is this 501c3 we've been talking about, dumped millions of dollars into what are basically just Democratic consultants to do supposedly nonpartisan voter registration work. How that works with a Democratic consultant, you know, that works for the DNC and the DSCC is doing nonpartisan voter registration consulting, I don't really know. But, you know, one of those consultants that's been in the news lately is GBI Strategies, which got in some trouble in Michigan recently. I don't know if you've heard about that. Oh, we did. We covered it.
A highlight from 1373: BlackRock Bitcoin ETF Will Send Bitcoin to $180K by THIS Date
"In today's show, I'll be breaking down the latest technical analysis, as well as Bitcoin speculators are now saying that at least 69 ,000 all time high in play. But right now is the least amount owned by hodlers. We have to keep this in mind. We're also going to be discussing Max Kaiser's Congress speech about disarming the banksters along with their financial weapons of mass destruction, as well as Bitcoin friendly El Salvador sees bonds return soar to 70 percent thus far this year. In twenty twenty three, we're also going to be discussing a crypto analyst who forecast the big Bitcoin price move to forty thousand. I'll be breaking down his timeline, as well as rich dad Robert Kiyosaki doubles down on his hundred thousand dollar Bitcoin price call and says he shares a common enemy with BTC, quoting him right here, Bitcoin to one hundred thousand dollars, saying for years gold and silver is God's money. Bitcoin is the people's money. Bad news. If the stock and bond markets crash, gold and silver will skyrocket. The worst news is if the economy crashes Bitcoin to a million dollars, gold to seventy five thousand and silver to sixty thousand savers of fake US are F debt is too high. Mom, pop and kids are in trouble. I hope I'm wrong. Please take care. We're also going to be discussing breaking news. Fundstrats Thomas Lee on live TV, quoting him here. If the spot Bitcoin ETF gets approved, the clearing price of Bitcoin is one hundred and fifty to one hundred eighty thousand dollars. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good, crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my rumble channel at Cryptonewsalerts .net. Again, that's Cryptonewsalerts .net and welcome y 'all just tuning in. This is Pod episode number thirteen hundred and seventy three. This is August 16th, twenty twenty three. I'm your host, JV. We do have lots to cover. So let's dive in with our market watch for the day. As you can see here in your screen, got Bitcoin price maintaining that critical twenty nine thousand dollars support while ether also correcting but maintaining and holding on to eighteen hundred dollars and checking out coin market cap dot com. The current crypto market cap sits at just one point one five trillion with thirty one billion in volume at the past twenty four hours. Bitcoin dominance back on the rise at forty nine point two percent, with the ether dominance at 19 percent even and checking out the top one hundred crypto gainers for the past twenty four hours. Bone Shiba swap up 13 percent trading at a dollar fifty four, followed by say up eleven percent trading at 19 cents, followed by rocket pool up three percent trading just under twenty seven dollars and checking out next. As you can see here on your screen, we have crypto bubbles. We can see the top gainers for the past week. Bone leading the pack, pun intended, up fifteen percent, but massive losses for the overall altcoin market and checking out the crypto greed and fear index, which you can see here. We're currently rated at fifty two, which is neutral. Yesterday, a fifty three last week, a fifty neutral and last month, a fifty four, which is neutral. And welcome to those just joining us in today's live stream. So much to cover. Next up, we're going to dive into our Bitcoin technical analysis. Check out some of the charts, as well as some interesting facts with some hodlers as well. Bitcoin speculators are leading a period of exhaustion and apathy across the market. In the latest edition of the weekly newsletter, the week on chain analytics firm Glassnode wrote about waning conviction about Bitcoin's short term hodlers. Now, where are my long term hodlers at? Make some noise. And after several months of stagnant Bitcoin price action, frustration amongst market participants has led to predictions of deeper downside to come. The bulls remain unable to break the resistance, while the sellers likewise face multiple support zones in the form of trend lines between the current twenty nine thousand and twenty five thousand dollar levels. And amongst these is the short term hodler cost basis, or better known as the realized price. Short term hodlers are defined by Glassnode as entities hodling coins for one hundred and fifty five days or less and correspond to the more speculative end of the Bitcoin spectrum. investor Now, the short term hodler cost basis has function as support throughout twenty twenty three, but is rapidly rising and currently sits at twenty eight thousand six hundred dollars. Now, by contrast, the long term hodler cost basis reflects the aggregate purchase price of the most stubborn hodlers and thus far lower at twenty thousand three hundred. Quitting Glassnode, the separation between these two cost basis is an indicator that many recent buyers have a relatively equated acquisition price and continuing, researchers describe the market as being potentially top heavy with even a modest Bitcoin price come down now apt to send the short term hodler cohort back into the red. Quoting Glassnode again, on the macro scale, the supply distribution does resemble similar periods during the bear market recoveries of the past. However, a shorter time frame, it could be argued to be slightly top heavy market with many price sensitive investors at risk of falling into unrealized losses. Now, despite this, it appears that speculators have already started to reconsider their market exposure. Let me know if you have or if you're continuing to stack stats as you should. Quoting them here, we note that the supply held by the long term hodlers continues to increase, hitting an all time high of fourteen point six million BTC. So in direct contrast, short term hodler supply declined to multiyear lows at two point five six million BTC the week on chain added. So overall, this suggests that conviction of Bitcoin investors does remain impressively high and few are willing to liquidate their holdings. Are you one of them? Let me know in the comments right down below. Now, the last time the short term hodlers had such little market presence was in October of twenty twenty one, just before the all time high of sixty nine thousand dollars. And it is very interesting as we see the short term hodlers continue to sell and the long term hodlers continue to stack stats as they should. I say the smart money are the whales and the long term hodlers. Would you agree? Let me know your honest opinion. Let me know your honest thoughts in the comments right down below. And now let's discuss our next story of the day. And that's Max Keiser's rant when he spoke in Congress back in January of two thousand and nine, talking about disarming the bankers and their financial weapons, a mass destruction, a very powerful speech given by Max. If you've got to hear this, let me know. I posted and transcribed it on what was formerly known as Twitter, now known as X this morning, quoting Max Keiser. This is an important day as we review the situation with respect to disarming bankers. After the first Great Depression, Congress passed the Glass -Steagall Act. The purpose of the resolution was to disarm bankers as well as brokers. Now, never again would they be allowed to destroy the global financial system. I'm here to warn you that they have, in fact, rearm themselves with a deadly toxic debt instrument known as a derivative. I asked for this session today to support the core assessment made by FAME investor Warren Buffett. He said derivatives are financial weapons of mass destruction and that have apparently been devised by madmen. These instruments pose a mega catastrophic risk. Ladies and gentlemen, don't wait for the mushroom cloud of bad debts to explode over our financial system. Let's disarm the bankers before it's too late. Very powerful words coming from Max Keiser. And again, this is circa January of two thousand and nine, right around the time of the Bitcoin Genesis block, which was released after the 2008 financial crisis. And lo and behold, you can consider him a prophet because everything he was talking about is exactly what's been going on. Financial terrorism as it continues as the central bankers of the world continue to print money until the wheels fall off. Massive shout out to Max Keiser and Stacey Herbert. As you know, I'm huge fans of them both via the Kaiser report as they were the first one to cover Bitcoin with international coverage back when it was trading between a dollar to ten dollars. This is going all the way back in 2011, so literally was at 14 or 13 years ago. So much respect to the high priest of Bitcoin. And with that being shared, fam, now let's discuss our next story of the day. Now that we covered Max versus the banksters and that is El Salvador and their success with their bonds, which have been released as returns soar to 70 percent thus far this year. Check it out. El Salvador, which adopted Bitcoin as the legal tender back in 2021, has seen its dollar bound outperform the majority of the emerging markets with a 70 percent return thus far this year. The massive rally of the bond has now drawn interest from several institutional giants, which include JPMorgan Chase. Take that tapeworm Jamie Dimon, as well as Eaton Vance and PGIM Fix, promoting President Najib Okele to say, I told you so. Now, apart from the institutional giants, the likes of Lord and EBIT and also Neuberger German or I'm sorry, Berman Group LLC and UBS Group AG have also added debt security since April, according to Bloomberg. And also, Paolo, the chief technology officer of Bitfinex, told Cointelegraph that the performance of El Salvador bonds is a clear signal that the investors are supportive of the financial policies of the El Salvadoran government and demonstrates the renewed interest in investing in the El Salvador story while adding the following as the first company to receive a digital asset license, we are seeing significant interest in digital asset issuance and renewable energy investments, which the country has in abundance and is being used for Bitcoin mining and to provide more energy for the country's electrical grid. Now, the growing demand of El Salvador's debt security in 2023 is a quite contrast to its performance a couple of years ago when it first adopted Bitcoin as the legal tender. That's right. They've come a long way. The Bitcoin adoption created uncertainty amongst investors who bet against the country's bonds with several financial agencies, casting a shadow of doubt on the country's financial future. In February of 2022, the American Credit Agency agency Fitch lowered the country's long term issuer default rating from a B minus to CCC, inciting policy uncertainty in the Bitcoin adoption, along with an eight hundred million dollar debt payment due for January of twenty twenty three. Now, keep in mind, El Salvador did pay that eight hundred million dollar debt in full within the due maturing time to start off the year, raising confidence in the country's bonds yet again. And the president, Bukele, at the time noted that they had proven every finance pundit wrong, who doubted whether they would be able to pay their debts in a time after Bitcoin adoption, quoting Bukele here. He actually shared this in January of twenty twenty three in the past year. Almost every legacy international news outlet said that because of our Bitcoin bet, El Salvador was going to default on its debt by January of twenty twenty three, since we had an eight hundred million dollar bond maturing today, literally hundreds of articles. Never forget that. Now, the rise in confidence of investors is visible from the bonds performance throughout the year. And during the same time, El Salvador also passed a landmark crypto bill paving the way for the infamous Bitcoin backed volcano bonds. Let's freaking go. Now, El Salvador and its president have been at the receiving end of criticism every single day since they first adopted Bitcoin in September of twenty twenty one as legal tender, along with the United States dollar financial pundits predicted that the Bitcoin adoption will further strain El Salvador's financial conditions. However, to the contrary, within two years, the debt security of the state has become a hot cake amongst institutional giants, the same that once advised against buying it. So I'll say it for Bukele. I told you so. So there you have it. Let's go El Salvador mass adoption. Bring it. In which country do you think will likely be next to adopt Bitcoin as a legal tender and follow in the footsteps of Bukele and El Salvador? Let me know your honest thoughts in the comments right down below. Now, let's discuss a forty thousand dollar Bitcoin price prediction, as well as a timeline, which I'm going to be sharing with you right here. If you think Bitcoin is likely to hit this forty thousand target, let me know. Now, while he followed analyst Pizzino is bullish on Bitcoin as the flagship crypto asset trades in a narrow range for the past few days or we could say for the past few weeks in a new video, he tells his three hundred thousand YouTube subs the Bitcoin can climb by over 40 percent from the current level between now and September of twenty twenty four. Considering September is only two weeks away, that would be pretty enticing winning it. The crypto analyst says that his upside target of forty two thousand is the range midpoint or the 50 percent level between the Bitcoin all time high of sixty nine thousand and Bitcoin's twenty twenty two low of around fifteen five. Quitting him here, it is possible that we see a test of forty two thousand happen within the period between now and September of twenty twenty four. So in basically twelve, thirteen months, a test of the 50 percent level of forty two thousand two hundred and then a retreat. Do you think we're likely to rise on up to that forty thousand mark? Let me know. And after appreciating to over forty thousand Bitcoin could thereafter correct either mildly or substantially, according to the analyst quoting him again, it could be a small retreat like back here, June to August of twenty sixteen, where it tested seven hundred and then came back to five hundred. Or it could be a deep retreat where it tested all the way up to fourteen thousand in June of twenty nineteen, when the 50 percent level was only eleven thousand five hundred. And then it came all the way back down to four thousand in March of twenty twenty, thanks to no vid. And to watch this video with the analyst predicting Bitcoin can rise to one hundred and sixty one thousand, check the show notes below the video in the description. And please do let me know if you agree or disagree with the crypto analyst. And now let's discuss our next story of the day, and that's the one hundred thousand dollar Bitcoin price prediction from Rich Dad author Robert Kiyosaki. In fact, he even claims that Bitcoin can now go to a million dollars. So let's break this down and then we'll dive into our feature story of the day with the BlackRock ETF, which can send the Bitcoin price parabolic over six hundred percent, surpassing a whopping price target of one hundred and eighty thousand dollars. But first, Robert Kiyosaki, he stands behind his call that the Bitcoin price will put a new all time high and run all the way up to one hundred thousand. Let me know if you agree or disagree with the author. Now, Kiyosaki refers to Bitcoin as the people's money very commonly and says that those who save in U .S. dollars are likely screwed. And that was the nice way of putting it. Reading his tweet here, Bitcoin to one hundred thousand dollars, saying for years gold and silver is God's money. Bitcoin is the people's money preach bad news if the stocks and bond market crash gold and silver to skyrocket the worst news if the economy crashes Bitcoin to a million dollars. Now, that doesn't sound like so such bad news to me. That would be extremely brilliant news for the Bitcoin price to go to a million. But I understand an economy crash is not good. But he continues gold to seventy five thousand and silver to sixty thousand. I do not see those precious metals rising like that, especially considering they're controlled by the central bankers and the cartels have been controlling precious metal markets for a very long time. But nonetheless, I digress. He continues, savers of fake U .S. dollars are effed. Debt is too high. Mom, pops and kids are in trouble. And I hope I am wrong, but please take care. I mean, very bold words coming from Kiyosaki. Also, in an interview he did with Stansberry Research's Daniela Cambone, he warned up the idea of Bitcoin as he has lost all trust in institutions running the country, quitting him here. I like Bitcoin because we have an enemy in common breach. It's called the federal government breach, the Treasury and the Fed and Wall Street breach. I don't trust them. If you trust them, save dollars and get yourself a nice bond. I do not trust those guys. How many can relate with Rich Dad earlier in the year? Kiyosaki also predicted Bitcoin would eventually skyrocket to one hundred thousand per coin, highlighting that the king crypto does not need the intervention of the government to sustain its value. So there you have it. Come in directly from Rich Dad. Let me know if you agree or disagree with the Rich Dad, Poor Dad author. And with that being shared, now let's dive into our featured story of the day. That's everything surrounding the BlackRock ETF, a spot Bitcoin ETF being approved in the United States. Tom Lee was just recently interviewed and says he believes it will automatically send the Bitcoin price somewhere between one hundred and fifty and one hundred and eighty thousand dollars. So let's break this down, shall we? And here this is on this interview. I also already transcribed it for your benefit here. And I'm going to start reading so we don't have to play that sound clip because it's copyrighted. Anyways, he's asked, I always like hearing your price targets. Because you are always so fearless. When are you or where are you on Bitcoin by the end of next year? Let's say. And he responded, well, it's a spot Bitcoin gets approved, referring to the spot Bitcoin ETF. I think the demand will be greater than the daily supply of Bitcoin. So the clearing price, which is done by Sean Farrell, who is our crypto digital strategist, is over one hundred and fifty thousand dollars. In fact, it could even be one hundred and eighty thousand per Bitcoin. And then when asked, that's only if the spot ETF gets approved. Tom Lee responded, yes, a spot US because a spot Bitcoin ETF is approved already outside the US, which is a fact. And then asked, but if it's not approved, then are we just lingering at around twenty nine thousand in which he responded? There is still upside cast because of the halving next year. So you'll have a drop in supply again. And so the clearing price has to increase, but it won't be six figures. So he's ultimately saying the approval of the spot Bitcoin ETF, regardless if it's BlackRock or any of the others, such as Fidelity or ARK Invest, 21 shares, etc., will absolutely send the Bitcoin price to a minimal of one hundred and fifty thousand. And that target could even be as high as one hundred and eighty thousand. But he's also saying in the same token, if Gary Gensler and the SEC does not approve it by the time of the halving, do not expect a six figure Bitcoin price, but expect the price to go up because of the drop in supply as well as the gain and demand. I think the analyst makes a very great point. Now, he was also interviewed a few weeks ago and he discussed this price action occurring within nine months. So I wanted to give you that time frame because the Bitcoin ETF is scheduled to be released sometime. Not the ETF, but the halving is scheduled to be in April of twenty twenty four. So anyways, here's what he had to share in this interview. Current Bitcoin market is in balance with twenty five million in daily block rewards and twenty five million in daily demand, incremental ETF demand. Sean Farrell, their analyst, believes that twenty five billion dollars of demand is possible within the first year. So this is how they come to these numbers. This is one hundred million dollars in daily demand. This would bring the daily demand to one hundred and twenty five million while the daily supply is only twenty five million. So the implied equilibrium price would need to rise so that the daily supply matches the daily demand. Equilibrium analysis suggests that a clearing price is one hundred and forty to one hundred and eighty thousand per Bitcoin before the April twenty twenty four halving. Now, if you'd like to see that come to fruition, make some noise in the live chat. Now he continues. Generally, this idea of higher equilibrium price is consistent. Sean Farrell estimates that the flow multiplier for Bitcoin is four to five X and on the odds of a spot Bitcoin ETF finally getting approved in the United States after numerous rejections of the past year. Here's what we had to share. Bitcoin ETF could finally get approved. Sean Farrell sees the BlackRock effect, making it this far more likely today. Now, BlackRock, we all know, is the world's largest asset manager, and they say they have roughly 10 trillion or more in assets under management. So there you have it. Very bullish predictions coming from Tom Lee and on regards to this BlackRock ETF being approved. But I'd love to know your thoughts. Do you think that the BlackRock Bitcoin ETF will be approved within the next nine months before the Bitcoin halving scheduled to be in April of twenty twenty four? Let me know why or why not. And I'm going to start reading all of your comments out loud. And don't forget to check out CryptoNewsAlerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
"warren buffett" Discussed on Squawk Pod
"Hiding their stuff. And so the crew still there. That's kind of interesting. You got any numbers about what something like that. That's a big one. That looked like the love boat. So typically, a yacht costs about 10% of its total cost to maintain every year. That's about a $500 million yacht. So it could be typically $50 million a year to maintain. That's if it's sailing, if it's just sitting there with a minimal crew, it is still minimum. Hundreds of thousands of dollars a month just to keep that maintained, cleaned, not getting damaged by the water. Asking for a friend, what's a depreciation on a $500 million yacht. So it comes out of the dealership, if you will, at $500 million, it doesn't go up typically. I don't think. It usually goes down, but how much down does it go? And how fast? Well, Andrew, it's a great question in the past prior to the pandemic, you would see, you know, depending on the build quality and the maintenance, typically about a 20 to 30% appreciation over a period of, let's say, 5 plus years. But over the past few years, yachts have actually traded for more than people paid for them because there's such huge and overwhelming demand for yachts. And if you order a mega yacht today, you're not going to get it for at least three to 5 years. So the premium on boats that are sitting in the water has been higher, they have appreciated since people bought them. That may change in the next few years, especially if some of these oligarch boats come on the market and there's more supply. Seems like it would also be a function of a lot of liquidity. Good opportunity, Andrew. People looking for things to Robert. Is it like art? Does it follow the markets? Kind of up and down valuation? It's not just the stock market it typically follows global wealth creation and during the pandemic we saw massive wealth creation. So unprecedented demand for boats, cars, everything expensive. And again, no sign yet that that slowing, but we expect it probably would just because it was unsustainable. Robert, thank you. That does it for the podcast today. Thank you for listening today and every day. Squawk box is hosted by Joe kernan, Becky quick and Andrew Ross Sorkin weekday mornings on CNBC at 6 a.m. eastern. To get the smartest takes an analysis from our TV show right into your ears, follow squawk pod wherever you're listening now. We'll meet you back here tomorrow. We are clear thanks, guys. CNBC wants you to get the Warren Buffett guide to investing for free. Decades of learning from the oracle of Omaha distilled into an easily applicable guide. Get it now at CNBC dot com slash Buffett guide that CNBC dot com slash Buffett guide.
"warren buffett" Discussed on Squawk Pod
"I think the market continues to underestimate the strength of the fed's conviction to fight inflation. Yachts, jets, and villas oh my. The Russian oligarchies wealth spread around the world in limbo or missing. We are in the wake of a 500 $1 million yacht. That's a big one. That looked like the love boat. Those stories box office booms and busts. Plus, Warren Buffett's latest letter, and the oracle of Omaha's not holding back on buybacks or on fiscal debt. Question is if you actually go back and look at buybacks on the whole, are they good or bad? You could actually argue from the studies that they're actually bad. It's Monday, February 27th, 2023, and squawk pod begins right now. Stand Becky bye in three, two, one, kill, please. Good morning. Welcome to squawk box here on CNBC. We are live from the NASDAQ market site in Times Square. I'm Becky quick, along with Joe kernan and Andrew Ross Sorkin. Everybody get your ties ready? Jackets suited up here. I want the jacket. You know, so she's got the jacket today. You guys are jealous. I know. Even he played a lot. I'm jealous. That was pretty good. It was good, wasn't it? It changes the whole dynamic. You're not doing it. It's only been 27 years, but will change it? Come on, Andrew. Come on. It actually, the jacket should be reserved for special occasions. And when you go out and do it every excuse. And you guys both do it. In Washington or in other places. It changes me. I think it's for you to change this to you. I think it changes me for the worse. For the worst. To go without a Jack. Yeah. Okay. Definitely looks wise. I'll tell you what, just to make you guys feel better, I won't wear one tomorrow. Okay, thanks. That's fair. I almost never do. Berkshire Hathaway released its annual report over the weekend as well as chairman and CEO, Warren Buffett's letter to shareholders. Berkshire reported a loss of $22.8 billion for the year. The company though was impacted by $67.9 billion in investment and contract derivative losses that accounting roles required. These are numbers that Warren Buffett and Charlie Munger have said for a long time. You shouldn't pay too much attention to just in terms of the swings, the profits and losses. They've said that when it benefited them and they saw a bigger than expected profit too, it's because they own so many different stocks and those stocks when they drop in value as the market, which was down 18% last year. When those things dropped in value, that affects it. Revenue was actually up 9.4% to $302.1 billion. And operating earnings for the year rose to a record $30.8 billion. Berkshire Hathaway is the biggest shareholder now in 8 S&P 500 companies. That includes American Express. Bank of America, Chevron, Coca-Cola, Hewlett Packard, moody's Occidental Petroleum, and paramount global. In his annual letter to shareholders, Warren Buffett pushed back on criticism of share buybacks. He said, when you're told that all repurchases are harmful to shareholders or to the country or particularly beneficial to CEOs, you are either listening to an economic illiterate or a silver tongue demagogue. Those are characters that are not mutually exclusive. So that was probably his most political step that he made on any of these things. Just in terms of keeping the large conglomerate together even after he's no longer running it, the 92 year old Buffett said, at Berkshire, there will be no finish line. Buffett also said that Berkshire will always have what he said a boatload of cash in US Treasury bills, along with a wide array of businesses. It's cash pile, by the way, stood at nearly a $130 billion at the end of 2022. And on the brewing fight over fiscal overspending by the federal government, Buffett wrote the Berkshire offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences. We may be living through some of it right now. You would think. I don't understand the silver tongue part. I think the demagogues that demagogue, I think they sound like economic illiterates. I don't think they're silver tongued at all. I was weird. I thought it was odd that he put that in there. It's a popular argument. Right, but silver tongue implies that they're like a siren song, like we're all sort of, oh my God, it's beautiful what they're saying about it. That's not what I'm saying. There's a lot of but I think you're in the minority. I think you're in the minority. I think populism is the reason. Why silver tongue? Because it's something that sounds good to people who are maybe not as right, so that's what they mean. So it's not a comment on whether they're right, no. No, not right, but whether they're just really smooth speaking. Yeah. I see your point. But I think for a lot of people, when they say those things at plays, you know, that's definitely does. It definitely does. They say the only reason they do it is that at this point they got people convinced that, I don't even want to go into it. But they got people convinced that all CEOs get paid by the stocks won't up and that the minute you announce their buyback, the stock goes up, and then your compensation goes up. And that's what everyone has it tied to at this point. And basically, there's a lot of reasons you might do buybacks. And you can't always just hire more people or spend it here or do this. That's why you have boards and CEOs that decide how to best deploy shareholder capital. And by the way, he's not saying all share buybacks are good. If you pay too much for it, it's a bad situation. If you're paying for an overpriced stock, it's not a good and that's to me the one piece of this, which is if you look at enough studies. It's a little bit like mergers. Which is that 50% of mergers are failures. Right. And so we've got a D merge. But the question is if you actually go back and look at buybacks on the whole. Are they good or bad? You could actually argue from the studies that they're actually bad insofar as they're actually valued destructive, not very critical. Because we value creative when a company is actually doing something. So then the question becomes, if you had this cash lying around, would you be better off buying back your stock if 50% of the time? And I think we should get better stats than that. But if the odds are, it's not going to work. Would you be better off investing in something else or whatever? Dividends. Instead of buyback. Right. But just because CEOs are no better than anyone else at predicting the future, especially over their stock market. We know about insider selling and buying. They're usually not very smart about that either. You can use it to see what they're doing. But long term, they don't know any better. Oh, that's not true. You think they're good at that? Oh no, if you look at the studies, that's because they do know insider trading the legal version of the legal version. I think every academic study I've ever seen on insider trading is they sell it. They sell it the right time. They are very good at selling at the right time. Well, then they ought to be able to buy back at the right. We should actually have somebody on. I don't know. We should go, look, I haven't looked at the numbers a long time, but I do know when you look at selling the accuracy on the selling on the whole is way better than that might make the average investor comes in and says. Maybe that's why. We actually should do a study. We should go look at these things. And by the way, Buffett is not defending all share buybacks. He's just saying, hey, anybody who says that all of them are bad. Right. Is wrong. By the way, the Berkshire Hathaway, annual meeting is coming up once again, just a couple of months away. You can watch a live stream of the meeting exclusively on CNBC dot com and on air right here on CNBC. That's on Saturday, may 6th. Shareholders, by the way, can send in their questions for Warren Buffett and the leadership of Berkshire Hathaway to Berkshire questions at
"warren buffett" Discussed on Bloomberg Radio New York
"Still have people making those decisions. So another quote of yours is history tells us mostly about what people did when faced with a specific set of constraints and inputs. How does that affect traders and investors in markets? Well, so you do this on your podcast, right? You talk to a lot of very professional, very successful people. That's why it's called masters in business, right? The challenge with that is I think it's very easy to get hung up on the thing that they did, not why they did it and what they needed to be able to do it. So we look back at Simon's, right? People who are wizards of Wall Street and my wife well, who I still haven't gotten on the podcast. We revere Warren Buffett, right? And people write books about them and all these things. And often what they end up looking like is hero worship. The more interesting question is, okay, Buffett's been really successful. Instead of trying to figure out what is it about Buffett that was better, I think it's much more interesting to look at, well, okay, what was the pond that he was fishing in? Who were his who were his colleagues? What were his information sources? What kind of capital constraints did he have? Or what lack of capital constraints did he have versus competitors? That's what makes him an interesting story. Now, of course, he wouldn't be successful. He wasn't also sharp and brilliant and good at his job and good with people. But I think it's much more interesting to look at those decisions as sort of contextual reactions to their environment, as opposed to revering them as like what we should all invest like Warren Buffett. No, we should all have the perspicacity to invest like Warren Buffett when presented with that exact set of situations. It's about process and one of the things I really go out of my way to avoid is the classic survivorship bias, because that's why one of my favorite questions is always what do you know today that you wish you knew 25 years or so ago when you started because I want to give people an opportunity to say, oh, I messed this up, or I didn't know this. Otherwise, that's the criticism of, you know, good to great. Here are 12 companies that did fantastic in the 80s and 90s. And then you look forward a decade and half of them are either out of business or gone or wildly underperforming the market. Yeah, I think that's exactly the point. So I get very skeptical of hero worship where the real thing is, okay, what is it about that environment that made a difference? This was somebody who focused on data when other people thought data was irrelevant. They got nerdy when people were thinking it was hunch. The same thing happens in markets all the time, right? When people get nerdy, but other people are focused on the emotions, there's often a real opportunity there, because now you're dealing with the system, not with the people. You've mentioned another book that I think is fascinating as history, the right stuff. Tell us about what the right stuff has to do with. Yeah, so investors. But again, so the bridge, because I think Moneyball is an interesting example there. To me, Moneyball is interesting, not for act like this dude. But as a character study to understand how human beings reacted there. So like in the right stuff, which was the example I was using in the email I sent you, I'm like a lot of people in my age and gen X, fascinated by the Apollo program and read everything and seen every documentary and built all the models when I was a kid. I mean, it was the wild west of ours. You're too young to have been called down to the assembly when one of the I think the first Apollo landed on the moon or circle. Yeah, but I remember watching on TV as a kid sitting on the couch, right? So very, very real to me. And so I felt like by the time I was 16, I felt like I had a pretty nerdy understanding of the Apollo program, but then you start reading stuff like Tom Wolfe and the great stuff. Did you read it or did you full disclosure I watched the movie? I never did. No, I read the book. I read the book when it came out. And the reason I love that, again, was not because it told me anything about how they made the landers. It was because it was like holy crap. This was an ego farm. This was a whole, it felt like Wall Street. Okay, here are a bunch of extremely high performance almost exclusively dudes. With enormous egos who are going to work collectively to do something nearly impossible, that's why that's an interesting story. It could be about, you know, Dream Team hockey, right? The fact that it was about these super high performance people interacting with each other for a common goal, that's what I think was interesting about it. And I think if you learned something from the Apollo program, it should be about that, not about like, well, government spending did this and we invested in, no, no, no, no. This was about creating a community of people around a common goal. Dave, thank you for being so generous with your time. We have been speaking with Dave noddy, financial futurist, for vy. If you enjoy this conversation, well, be sure and check out any of the previous 440. We've done over the past 8 years. You can find those
"warren buffett" Discussed on Bloomberg Radio New York
"To their environment, as opposed to revering them as like what we should all invest like Warren Buffett. No, we should all have the perspicacity to invest like Warren Buffett when presented with that exact set of situations. It's about process and one of the things I really go out of my way to avoid is the classic survivorship bias, because that's why one of my favorite questions is always what you know today that you wish you knew 25 years or so ago when you started because I want to give people an opportunity to say, oh, I messed this up, or I didn't know this. Otherwise, that's the criticism of, you know, good to great. Here are 12 companies that did fantastic in the 80s and 90s. And then you look forward to decade and half of them are either out of business or gone or wildly underperforming the market. Yeah, I think that's exactly the point. So I get very skeptical of hero worship where the real thing is, okay, what is it about that environment that made a difference? This was somebody who focused on data when other people thought data was irrelevant. They got nerdy when people were thinking it was hunch. The same thing happens in markets all the time, right? When people get nerdy, but other people are focused on the emotions, there's often a real opportunity there, because now you're dealing with the system, not with the people. You've mentioned another book that I think is fascinating as history, the right stuff. Tell us about what the right stuff has to do with investing. But again, so that bridge because I think Moneyball is an interesting example there. To me, Moneyball is interesting, not for act like this dude. But as a character study to understand how human beings reacted there. So like in the right stuff, which was the example I was using in the email I sent you, I'm like a lot of people my age and gen X, fascinated by the Apollo program and read everything and seeing every documentary and built all the models when I was a kid. I mean, it was the wild west of ours. You're too young to have been called down to the assembly when one of the I think the first Apollo landed on the moon or circle. Yeah, but I remember watching on TV as a kid sitting on the couch, right? So like very, very real to me. And so I felt like by the time I was 16, I felt like I had a pretty nerdy understanding of the Apollo program, but then you start reading stuff like Tom Wolfe and they'll write stuff. Did you read it or did you full disclosure I watched the movie I never did? No, I read the book. I read the book when it came out. And the reason I love that, again, was not because it told me anything about how they made the landers. It was because it was like holy crap. This was an ego farm. Like this was a whole, it felt like Wall Street. Okay, here are a bunch of extremely high performance almost exclusively dudes. With enormous egos who are going to work collectively to do something nearly impossible, that's why that's an interesting story. It could be about, you know, Dream Team hockey, right? The fact that it was about these super high performance people interacting with each other for a common goal, that's what I think was interesting about it. And I think if you learned something from the Apollo program, it should be about that, not about like, well, government spending did this and we invested in, no, no, no. This was about creating a community of people around a common goal. Dave, thank you for being so generous with your time. We have been speaking with Dave notg, financial futurist, for vy. If you enjoy this conversation, well, be sure and check out any of the previous 440. We've done over the past 8 years. You can find
"warren buffett" Discussed on Bloomberg Radio New York
"Is Martin Norton. Her role is chief investment officer at Morningstar investment management which either manages directly or advises on about $250 billion in client assets. So let's talk a little bit about Morningstar's history. They're in Chicago. I know of them from their mutual fund rating business. Tell us a bit about your association with the firm. So Morningstar actually has a really rich history and to hear Joe man swedo our founder tell it. There was a bit of an entrepreneurial spirit. He wanted to be a entrepreneur. He was in the investing world and he was intrigued by Warren Buffett. And he was looking for kind of that market opportunity. And he found it in the mutual fund space. Now, as he tells it, the mutual funds space was a pretty nascent space in the early 1980s. It's not like it is today where mutual funds are ubiquitous. And he saw it as a really positive, good thing for the individual investor to have access to these top money managers. But he found that Morningstar was making a lot of individual investors. We're making a decision based solely on trailing returns, which is we all know is not a good investing strategy. So he founds the company in the early 1980s. His focus is on mutual funds providing data providing analysis and generally helping individual investors have better outcomes. And so that general sense of empowering investor success is the same mentality that Morningstar has now taken and its research to ETFs to individual stocks to credits. It's software. It's data. And of course, it's investment management group. When did the investment management side of the business begin? There's different kind of histories to different parts of it. The managed portfolio business began in 2001. But we've had consulting arms. We acquired ibbotson, which has its own rich history. And then we also have global groups outside the U.S. and Sydney and London and other places that we've added to the mix over the years. So about halfway through the history, really full bore asset management. That's right. Is introduced, which kind of answers the question. Hey, why would a research firm need a CIO? But really, it's much more than a research fund. That's right. That's right. So it's for the asset management business. And in fact, there are four CIOs in the business. There is one. There's one for each region, so I set in Chicago. I have a colleague in London and one in Asia PAC. And then we have a global CIO who we report into. Who sits in London. So when did Morningstar acquire ibbotson? Because I interviewed roger of its I want to say 2019, something like that. So 2005, 2006. Oh, really? Yeah. I didn't realize that in associates was part of Morningstar at the time. Right. So now it's all kind of folded together. What we did is we had these separate strands, these separate capabilities, and there was an effort to think about what do we want to look like globally as one cohesive unit. And so we've pulled together as an asset manager. So you do mutual funds, traditional neutral funds, you do ETFs, what about bonds and fixed income? So what we do is we have the individual security portfolios. We have our own mutual funds that we use within our model portfolios. And then we have model portfolios that rely on ETFs from third parties and we mix the two together as well as kind of an active passive approach are fixed income exposure right now is through third parties. So we'll buy ETFs or we will use some advisers. So if someone else is doing it, it's inexpensive. Why do you want to recreate that wheel? What we're actually focused on is these model portfolios that we're managing these multi asset financial solutions. And this is an area of expertise, something that we've been doing for more than 20 years. And what we're doing now is thinking about how do we want to power those model portfolios. And so that's where the mutual funds come in. In fact, for a long time, we use third party mutual funds. That's an area of expertise for more selecting those mutual funds. And when we found that we just wanted to try to reduce the layers of costs. When you're owning a bunch of mutual funds, you have all the ancillary expenses built into those expense ratios. So if we could take what we thought were best of breed thinkers and put them within our mutual funds, we could cut down on the layers of costs and that's in fact what we did. So if you guys are driving the creation and exactly what these funds look like, how involved have you gotten in thematic investing? Is that something that's significant? So a big part of who we are is our global research platform, where we're covering equities in which way you can slice them globally in the same thing on the fixed income side. So what are capital markets IP really is looking at what are the fundamental drivers of these asset classes and how do we think about them from a valuation perspective? And so you can think of that maybe I guess that's thematic where sometimes focused on very narrow areas like a country or a sector. We also have the ability within our mutual funds to create equity slaves. So individual stocks that represent the opportunity and we would do that when we think the ETF is too expensive or we think the ETF is an actually capturing what we think is the opportunity. So we have that embedded in our mutual funds as well. What are your thoughts on things like personalization and direct indexing? Yeah. So personalization is portfolio managers and I was a portfolio manager for a long time. You really have your head down. You're focused on your strategies. So I pop my head up as a CIO. I get a vision of the broader picture and I start hearing a lot about personalization. And I don't know what people are talking about, frankly. And I ended up presenting on this at the Morningstar conference this spring. And so I spent a lot of time trying to understand it. And if you don't mind, let me give you my understanding how I came about to how I see it. If you were like me and you spent your high school wandering blockbuster, looking for something that you wanted to see that was in stock, you found yourself in a much different situation in the pandemic, where you're sprawled on your couch and you're just streaming content through Netflix. That is. Analysts scrolling. Yes. And it's algorithmically chosen just for you. Or if you have the privilege of driving a Tesla, you don't have the indignity of your husband messing with your mirror and your seat, you can just create a job of profile and it recognizes you. So personalization is
"warren buffett" Discussed on Bloomberg Radio New York
"Potentially the Occidental bets will soon get to, you know, I think it really signals that Buffett is a little more all in and because Berkshire is so big, the stock bets are so large. It's hard for him to get in and out of the stock easily. So I think it also signals he's in it for a longer time frame. You know, it's hard for him to dump the stock quickly. And that's what I kind of find interesting here is that as you said, he's thought of the energy world as kind of volatile. And yeah, it really is, right? But you do wonder if that here we are going potentially through this global transformation where the world is talking about alt energy, but we know it's not an easy or quick transition. And I don't know, as someone who's followed this company, followed Warren Buffett specifically, what are we as kind of average investors maybe taking way more broadly? Is this potentially Warren Buffett saying, you know, guys, it's going to take a while for this energy transition. I think that's yeah, I think that's been broadly in line with his strategy around sort of this transition, he owns a lot of energy companies, the utilities, they have a lot of ESG investments. I mean, they do a lot of wind power and solar power. But they still, you know, they're still using fossil fuels and stuff like that. And I think it is a sign that, yeah, he thinks it's not a quick transition. And I think our energy reporter Kevin Crowley has done great work on Occidental and really talking about how their CEO is kind of a different from a different class than some ways in this business and she's quite a bit strategic. I think people questioned a lot. The Anadarko acquisition, but she has, you know, she's been able to navigate this company and a quite interesting and thoughtful manner. And I think that's called the eye of Buffett and I think it's sort of speaks to the fact that yeah, it's going to be a volatile world and who knows exactly how fast we're going to transition or anything like that. He just wants a good manager at the helm. Cat very briefly. In situations like this does Warren Buffett Berkshire Hathaway do they typically continue to increase their stake until they own the whole company or are they satisfied at 50%? It's really hard to tell. I wish I knew. But I think obviously it's a good sign and I would not be surprised if it ends up being bigger, but I would caution. Like cross Heinz, it's a big state for them. It's he owns 26% of the company. It's so big that he has to account for it in a different manner. And yet he doesn't own the full business. You know, I think he does have a sense of he wants those bets to be big, but Berkshire's also so big that they need places to put their billions of dollars of money and accidental stock is one way and sometimes it means that it's a really big debt without becoming a full outright acquisition. I was just looking at the FA on the Bloomberg about kind of cash and equivalents. The end of June was something like $471 billion. It's a lot. Thank you so much. Cat tolinski, here at Bloomberg news. As we said, she's covered Berkshire and Warren Buffett for a long time. She is though Bloomberg real estate team leader here on the phone. Let's get over to the markets. We got Charlie pellets standing back because we got just over an hour ago. And a lot of red on the screen, Tim, as we wrap up what will be a losing week for the U.S. stock market right to the numbers
"warren buffett" Discussed on Bloomberg Radio New York
"Fundamentally good business today at 15% less than I could buy at three months ago That feels like a good outcome Will there be bumps along the way where there'll be deviations of course there will be But I think the notion of purchase price matters some call it value in the extreme you can be like Warren Buffett and Charlie Munger But I think it's a strategy that's built for multiple market cycles in the equity business It's the price you pay It's the companies you buy And in the credit business it's being senior secured It's not being a long duration being floating rate There are lots of ways still to protect yourself Maybe it doesn't feel as good Given what we've been through and just how positive the last decade has been No it certainly doesn't feel as good But on the subject of purchase price mattering and value is a concept and time as something of an unknown is 15% enough if you can buy something for 15% less right now might you be able to buy it for 30% less 6 months from now Perhaps I mean this is always the question of what's cheap enough and what's worth doing I think we have more to go I more in what sense I think there's more of a correction to come I think being a macroeconomics prognosticator is not what we do but understanding fundamentally good businesses That maybe had more options three months ago and have fewer options today We'll find that category of things that make sense for us to do We always do Yes History would suggest so But if you think If you don't have the luxury of being the kind of investor that Apollo is and you put yourself in somebody else's shoes for a moment do you look at the market and say to yourself I think the future that I envision is relatively priced in even if there's a little bit more of a correction to come or that is not a noble answer right now I don't think it's a noble answer right now but certainly we saw in today's announcement from the fed the signs that they are taking the need to get inflation expectations under control very seriously And that will manifest itself through their liquifying their balance sheet and selling down Which they outline this morning but also through rate increases But something we I was in D.C. last week and I spent a lot of there's a lot of free time by the way in D.C. It's a great time to go and visit And the key point I was making is that everything that you believe prior to 2008 no longer exists And in the context of your question I'll take public markets 60 plus percent of the equity market today is indexed Indexed Meaning a trades on liquidity just people going in and out The fixed income market a 100% liquidity driven at this point in time And so investors the public fixed income public fixed income markets investors who are relying on public stocks and public bonds Our finding out that everything is correlated to liquidity because you've had one of the worst first quarters ever You've had equities down about 14% You've had investment grade credit down 17% It wasn't that supposed to be riskless And I think institutions kind of already know this Public markets have become beta and if you want excess return you need to step back from the public markets So what you've just said I would summarize with something along the lines of we lived through a dozen years of rock bottom rates and most recently endless liquidity And it felt like a riskless era Does risk matter again now for the first time maybe since before the crisis Absolutely I think we're seeing things correct We're a long way from means or medians in the equity market where 30% From the median which is pretty scary And the credit market we also have a long way to go But I do think that the mentality with which investors have focused has been lulled into this sense that everything goes up that everything is supposed to go well because we've had one could say 30 plus years of declining rates But extreme liquidity in the past 14 So if you think about what you see and what you anticipate you have an idea of what businesses of yours still work What businesses don't work anymore Yours or others Look I think the on the run long only markets business Are very difficult To the extent you have been the beneficiary of trends So there'll be a number of speakers who will come here and we'll talk about the massive increase in technology and the technology growth curve And I would say tech and growth in particular have benefited from low rates Because they are their business plans are further out They're discounted back at much lower rates Therefore they've been the beneficiaries of this speculative broom and to quote one of the speakers we'll hear from later Technology technological change is real It's fundamental But that doesn't mean the purchase price doesn't matter And the entry point doesn't matter So I think people who have benefited from this extreme low rate high liquidity environment where growth all manner of growth have been rewarded I think that's where the greatest correction will come And that of course is not just the ETF manager whom you're thinking of that presumably extends to.
"warren buffett" Discussed on Bloomberg Radio New York
"A close pretty much across the board In the green I guess we're going to call it flat though here on the day The Dow Jones Industrial Average up about 90 points or so about two tenths of a percent The S&P 500 up about 19 points of four tenths of a percent The NASDAQ basically up about 8 points and you can basically call that flat on the day That's up less than one tenth of a percent The Russell 2000 which had poked into the green just a little bit of a while ago Going to finish the day down by about three cents of a percent Carol Yeah and remain not all in when we look at the S&P 500 we're going to get into those major industry groups but the S&P 500 273 names actually showing some gains today Taylor 227 to the downside 5 flat unchanged on the day You know Carol you really see that on the individual sector level for the radio audiences we do every day We sort of break out this sector winners by the best performers in the worst performers And you do sort of get that classic mix but it does feel interesting when you take a look at the composition On one hand it feels pretty defensive when it's food and Staples and it's some of these household products Those are up anywhere from one and a quarter to 2% That there's some energy in there as well and some technology when you think about some of that hardware equipment Those are also up about 1.3% So that composition and the mix is interesting You come back down to the bottom though and really all about a yield story Carol We can't escape it Real estate and banks and media Of course really reacting to higher yields on the day Those are off about 7 tenths of 1% to 1% on the day Well Taylor and me time you see some big name investors putting some money to work and I'm thinking about Warren Buffett and his Berkshire Hathaway This was certainly a standout in the S&P 500 today HP is the ticker HP we're talking about Warren Buffett and his Berkshire Hathaway Did you see Carol Did you see what the likes of Peter Thiel have been calling Yeah I know I saw that We were talking about that Sociopathic grandpa No nice Jamie Diane would say Very sink I'm taking boo On TV I think he's just a little sour that Bitcoin hasn't hit a 100,000 We said it's their fault It's their fault Not embracing it They're the ones holding it back How old is Peter Thiel Mid 50s Oh Everybody else is older You think if he was like 70 or 65 he might not be saying this I don't know I don't know He was doing this in front of a live crowd Live crowd whipping them up Yeah I said that reminded me of his common pace to be a troll When he spoke at the RNC right He really came out of his shell then and his shell Yeah he wasn't really very vocal person when it came to politics before that I think it's surprised a lot of people that he did that and he's been a lot more vocal since then Bitcoin does that to people too That's what it is I'd love to put him together with Warren Buffett in that team right And just see the sparks go back and forth All right so I mentioned HP It's up about 15% as we heard Berkshire Hathaway buying what another steak now valued about 4.2 billion The biggest individual shareholder in that company Costco top of the NASDAQ 100 They put out better than expected march total comp sales up about 17.2% versus an estimate of 11.2 a bunch of analysts jumping on board and raising their price target That's Doc up about 4% And Lambert high right Yeah a record high thank you And we also saw HP hitting a record high in today's session And lamb Weston Holmes That was because Buffett bought into that right It does deal Honestly now as well Are you listening Listening to anything.
"warren buffett" Discussed on Bloomberg Radio New York
"TV colleagues definitely seeing some moves up towards the best levels of the day when it comes to equities In fact we are there So slight gains but definitely a different tone from what we saw earlier in the day What changed I don't know I don't know Maybe people Different sentiment This is what's tricky about when the fed starts to raise rates right Or when they're getting more aggressive First of all some would argue they're chasing down inflation some would also argue that they're more comfortable and that they can do it because they have confidence about economic growth going forward And increasingly we see people come on and they say well look at the tight labor market That's a sign of strength Look at earnings estimates continuing to come down Balance sheets again whether it's household or corporate balance sheets sheets being in a strong position So that should provide some support for economic growth And maybe that's where you get some of the equity investors saying well wait a minute Maybe things aren't all coming in down at least right now And what you talk about all the time Carol where else are people going to allocate their money right now And like a Warren Buffett and Berkshire Hathaway where some stocks have really been beaten up and if you have enthusiasm and an optimism maybe longer term you're saying this is a buying opportunity maybe for some particular names possibly even the broader market The question is what happens next week when we get that year over year CPI number for the month of March 8.4% is what analysts surveyed by Bloomberg are expecting Excluding food and energy 6.6% so still high All I would say it's the outliers If it comes in much much hotter or it comes in much much weaker That's when you start to change the narrative that's out there Let's get to Washington D.C. for a check of the latest world in national news with Nancy Lion tenants Hey Tim judge Hitachi Brown Jackson will be the first black woman to join the Supreme Court she was just confirmed this afternoon by a Senate vote of 53 to 47 Senate majority leader Chuck Schumer says it's a joyous day for a nominee who is well deserving Every step of the way the judge has proved herself exceptionally qualified and thoughtful and prepared to serve on the court Schumer says today is a milestone that milestone that should have happened generations ago all but three Republicans voted against her admitting she was well qualified but too liberal Defense secretary Lloyd Austin and joint chiefs chair Mark milley today have been pleading their case for a $773 billion budget request before the Senate armed services committee Ukraine is at the center of their pitch as we hear from Bloomberg's Chapman Secretary Austin characterized the effort in Ukraine Putin is now focused on the south and east of the country In our goal is to make sure that we give the Ukrainians everything that they need as fast as we can get it to them and we're pushing it so that they can be successful in that fight as well General milley added there's a significant battle yet ahead Gets an open question right now How'd this ends So far milley said there's no sign of Russian willingness to negotiate a way out In Washington nerve Chapman Bloomberg radio At the masters at Augusta national Cameron Smith sits alone at the top at four.
"warren buffett" Discussed on Bloomberg Radio New York
"Stock some of the names moving in the pre market with Bloomberg radio and TV markets correspondent pretty Gupta creedy It seems like investors have moved from focusing on the fed back to headline moves around the war in Ukraine Yeah it really comes back down to that because that's at the end of it the kind of key driver of inflation right now Alicia I say additional inflation If you look at features they are down but here's the good news Nathan They're not down as much as you would expect after two days of 3% or almost 3% gains in the stock market So that's pretty good news That being said you are of course seeing some pretty downside moves only about 25 stocks in the green right now And most of them are going to be energy stocks Take a look at this Marathon Oil your usual suspects here up 3% MROs your take your Halliburton as well HAL up 3% Devon Energy DV and up two and a half percent And then there's Occidental oxygen up 3% as well A really great story simply about who in fact is buying Occidental stock It turns out it's Warren Buffett He is looking to build up his stake He has been building up his stake and you have seen this state go to 14.6% especially really getting built up in the last couple of days I think looking at this in a bet of a total $7 billion in Occidental and just 11 trading days So that's why you see Occidental really gaining here But of course part of that is going to be this geopolitics zero XY once again is your ticker there Yeah once again we are watching a surge in crude oil prices as well It could be playing into that Also seeing some analyst moves of note this morning greeting Some analyst moves you know I think we're back to the point where stocks are actually trading on with some of these analysts are saying as opposed to the geopolitical tensions that we were just talking about We start with Ralph Lauren here This is a name that I don't bring up often RL is your ticker up 9 tenths of 1% but seeing a lot of heavy volume in just as much volume as Occidental is in the pre market this morning So that is some interesting news there JPMorgan upgrading Ralph Lauren to an overweight announcing a $142 price target is trading around 115 right now So definitely seeing some upside there Another one that is actually interesting to me is McDonald's MCD is your ticker there up just two tenths of 1% not a huge move to the upside but you did get some news Morgan Stanley cutting their price target on McDonald's at $287 from two 94 That of course citing a Russian Ukrainian impact but still saying they are overweight on the stock And remember McDonald's one of the fastest growing markets is Russia actually there was a story that Moscow the Moscow McDonald's location was one of the fastest and busiest in the world Of course before the war McDonald's shares now trading at about $230 Yeah you saw some huge lines out of that first McDonald's in Moscow after they opened the iron curtain back in the 90s but it'll be really interesting to see as well if we get any more geopolitical analyst moves with so many companies pulling back their Russia business Bloomberg radio and TV markets correspondent creating Gupta Keeping an eye as always on the pre market for us And as we look at stocks as a whole ahead of the Saint Patrick's Day open it's red on the screen Green if you're looking at commodities really But S&P futures right now are down 14 points Down futures down 97 NASDAQ futures down 58 the ten year treasury is up 1830 seconds The yield now 2.12% on the benchmark tenure This is Bloomberg One 40 you could save big when you bundle your home and auto with progressive but when we just come out and say it it feels like it falls a bit flat So instead we're going to have someone else say it Because for some reason when a random person talks about how great something is in a commercial it's more.
"warren buffett" Discussed on Secret Sauce
"This all worth. Yeah and like we thought. His biggest mistake was berkshire-hathaway but he'll later say no whatever he did to push. Suzy away was his biggest mistake. The person who helped him grow up and set him on his true path in life. His great love leaves them. Warren buffett has just lost one of the main ingredients of his secret sauce and without it. His future success his happiness. Everything he's worked for hangs in the balance. This is the second episode of the secret sauce of warren buffett. If you like her show please.
"warren buffett" Discussed on RUMBLE with MICHAEL MOORE
"We're not taxed on it. I mean it's it's it's. It's a simple ingenious system to To benefit those who are in the point zero zero zero one percent. I mean it's it. It was just stunning To read i mean it was Not that we didn't suspect it or no it. I mean we are we. Are you know. We know for instance. These corporations Have gone a number of years not paying any taxes. These large corporations and the average american There i would have to believe that. Some average americans are paying more income tax or certainly more on on a percentage basis. Obviously then the rich. No question right me on. A percentage basis. I think about it this way so warren. Buffett's wealth to go back went up. Twenty four billion dollars between twenty fourteen and twenty eighteen k twenty four billion dollars. He paid one out of a thousand of those dollars in taxes. His effective tax rate for the new money in his keeping over those four or five years is one out of every thousand is imagine thousand dollars raining on you in singles nine hundred and ninety nine. Your wallet. one goes to the government. That's his relationship. The united states government in the equivalent period If the average american enjoyed a similar effective tax rate your tax bill over that four or five year period will be about you. Know sixty seventy eighty bucks. Ask yourself would you as a blizzard of this. Would you like a sixty to seventy eighty dollar tax bill over five years. Because that's what warren buffett has and right. Now it's kinda like a western where it's like. It's either you baby like either. He gets that kind of tax rate. And then you gotta pay more like sixty grand over that four or five years which is what is the average american Or is the other way around. But as i once heard someone say there's no up without a down and and and the taxes you pay in a certain sense. And i know we can get into modern monetary theory actually more complicated story but but right now with the way we do things.
"warren buffett" Discussed on 600 WREC
"Partnership that as really started in the 20th century with with FDR. Where he started to try to merge something that Benito Mussolini did. The Council of Corporations. That's what you had in fascistic countries is you had all of these corporations. They were oligarchs. They would become rich because they would get the permission to make all the products and do all the things and if you weren't in favor Well, you didn't get a business license to do things. This may sound crazy to you. But as I'm doing research yesterday, Coca Cola Coca Cola, which we told you about yesterday was part of this big reset thing. On and I am no longer going to use a Coke product to the best of my ability. They own so many things. But I won't have coke anymore. And it is my favorite. I love Coca Cola. Never ever again. The Coca Cola in one of their bottling companies, the European bottling arm of Coca Cola. They've already adopted all of this stuff, all of the great reset and they actually have a page. But they say justifies Their business license. It's all the things we do for the community. It Xcom ng your way. And that's why these big corporations are doing what they're doing because they know that all of these bad ideas the government I mean, we don't trust the government anymore, right? Hey, we never have really thought government was competent ever. It never is. But we did trust mar our jury system. You trusted anymore. Nope. You trust the FBI? Nope. Do you trust the media? Nope. Do you trust giant corporations? Nike. Nope. Do you trust the banks? Nope. So now the idea is to take all of those and roll them in tow. One. So the government will actually control the banks and the corporations in a public private partnership. I mean, you're still free. You're still free, but you'll you'll have to work with the government and they'll have certain things that they are going to require. This is what's coming and I can't ring this bell loudly enough. It's already here. Why? Why did we cancel the pipeline? The key the XL Keystone Pipeline. Why did we do that? Well because of environment, right? Okay, Maybe maybe I could make an argument that rail travel for that amount of oil is really dangerous compared to the oil pipeline, and I'd win that argument. But maybe they say, Well, we just don't want any kind of permanent infrastructure at all. Because we're gonna get off that. Okay? Maybe maybe. Then why aren't you? Why are you holding up China as some great example. Is there not Was it for the environment, Or was it because or at least Partially because Warren Buffett's railroad BNSF Is going to be transporting all of that oil. Now that's quite a charge to make. But I would like to know where you consulted about the Keystone Pipeline if you were working on it. If you live in South Dakota, the Joe Biden talked to you. About it, And I mean, even just coming to your union. Coming to your state and saying, Look, I know this is huge for you. I want to talk to you about it because we have a real We're real opportunity, Did he? Back in October, Joe Biden said to a group of investors I've got. I just got off the phone with Warren Buffett and we were talking about how we're in a position unlike we were 50 70 or 80 years ago. Lead the whole damn world in a way that no one else can. Okay, so he talked to Warren Buffett about it. But I haven't heard that plan, have you? What is that plan? Of Warren Buffett likes it. Okay, Maybe because you know Warren Buffett's good. It's stuff like this. I'd like to know that conversation because Joe hasn't had that conversation with us. And I can damn Well, bet you Warren Buffett knew the XL pipeline was going to be canceled. But you didn't I mean, he said he was going to do it. But did he talk to you about it? Because I know he talked to Warren Buffett. This is the kind of things that You. This is why we don't trust anything. Billions of dollars are going to people and the oligarchy grows. So this is what Eisenhower was warning about. But then, when LBJ came in, he doubled down on the Biff casino. He doubled down on that future. He brought government private collusion to a whole new level. He included education, medical and a whole bunch of other private sectors that were brought together with the government, all in the name of waging the war on poverty. Poverty hasn't changed. The war on poverty is the biggest $21 trillion. Boondoggle in the history of mankind. Now they put all of this together. They've been trying to do public private partnerships, which is fascism. We call it today An oligarchy. But when they originally started to propose it, it was fascism. So now this oligarchy is going And if FDR, Wilson and LBJ were the ones that really put this train on the track One to bring it into the station is Joe Biden. Now. Obama came and I think he actually well, I think Michele is an actual ideologue. I'm not sure if Barack loves his Marxist ideas as much as he likes power and money. Because he got in the office and he was a radical. And he radically transformed America. But he didn't put it. He didn't put the finishing polish on it. He didn't finish it in kick the door closed. It's gonna be Joe Biden that is doing that He's doing that right now. Do you remember Michelle Obama Reason? Why say she was of the night? A log. We've played this a million times, But I want you to listen to this. This is Michelle Obama in Puerto Rico. After she gave this speech. They took her off the campaign trail..
"warren buffett" Discussed on KSFO-AM
"Your life. Are safe Money book is a comprehensive guide to what we call autopilot investing is critical to retirement success because you never know when the market is going to crash. We about to sink lower I don't know. You don't know. And for sure your broker doesn't know. If they knew when the market was going to turn around, they would have known when to take you out of the market. Of course, a bear market could last for years. Can you really afford to wait several years or more after that, just to break even. That's even if you ever get back to. Even when we look at losing money in the market, it's more than just the value of the funds lost. It's also the element of time and no one can replace a value on that. The older we get, the more valuable that time is simply because we just don't have the same amount of time left to live. That's what we address in our no market, Rhys strategies, and here's how we address it. If you never are in a position to lose money. You don't have to spend time trying to make back your losses. This is just one of the strategies we embrace for our clients. Our clients never lose any of their principal due to market losses. Her client's money is contractually guaranteed to never participate in market declines. Only market gains. Some of our contrasts even have lifetime income accounts that guarantee compound it and a roof of up to 6% and also guarantee that you will never outlive your money. These games are locked in and will never experience a loss due to market declines, and they always grow tax deferred because taxes or another enemy of growth, causing losses to your account. Warren Buffett, one of the richest men in America, says there are two rules that every investor should live by. The first rule is to and never lose your money. The second rule is to never forget the first rule. Losses of any kind are not allowed in our retirement preservation strategies with our no market risk plans. You have the opportunity to gain when the market gains but you do not lose when the market goes down. In fact, I can show you the possibility of gaining even during the losing market. You can never lose due to market losses, and this is guaranteed by multibillion dollar highly rated companies. So after her down market, you never have to take even more risk trying to get back to even because you never had taken a loss in the first place. Once the market starts going up again, you get a nice portion of the gains. We have clients who have account balances. There are 50% higher than it would have been if they have left their money in the market. Doesn't matter. And 50% of your account equals a million dollars of $50,000. It's still money. You cannot afford to lose. It's important to remember that making money is not trying to get back to even it's gaining while never losing money in the first place. We have penalty free exits and tax free rollover strategies to maximize your gains and remove the risk of loss. My number.
"warren buffett" Discussed on KTAR 92.3FM
"Productive from home. And make money and John, you're in the group yourself. That's true. And and, well, one of the things I really appreciate about our mentor. In this program is not only like you just said. That he's going to help us with making money, but he's also going to change the way we think. What's great about this is I always say it's like taking Warren Buffett and Tony Robbins and combining them. And and then put them together and you've got our mentor. How would you like to have someone like that? Guiding you every morning, motivating you to make more money and keep it. That's what he teaches us. This isn't just making money. This is also about money management and changing the way you think. Well, that's right, John. And you know what we really specialize in. What we specialize in this setting people up for business for themselves from home or from the comfort of wherever they want to be again. As long as you have the Internet, you're in business. All you need is something you already have, which is a computer and Internet access. So it sounds pretty amazing, right? And again. We don't like to talk about the fact that we only work two hours a day, because that's that's one of the biggest things that people don't believe. But when you show up for your free trial session Trust me. This is actually what you're going to see. You're going to see that everything we say in this show is actual and factual, and it's not exaggerated or overstated. It is the real deal and anybody can do this. We've got a lot of seniors in the group. We've got investors in the group. We've got Housewives engineers. It's really for everyone of all levels. I'm telling you, I've got I've got two kids. I have a 12 year old in a 16 year old and they can do this. That's how easy it is so Don't hesitate to give us a call. If you want to check out and see what we're all about. This is the real deal, and we've got people answering the phone right now. You can sit in on one of our lives, trading sessions, whatever days convenient for you as soon as Monday. Our number again is 8886468787. That's 888. 6468787 will get you into our next session. You can sit in watch real people trading real money and actually see for yourself what we do. See if it's something that you would like to do. See if you're comfortable with it. We? What we do is we log in every day. It's seven o'clock, Pacific time or or 10 o'clock eastern time. Just depending on what time zone you're in. You know, the genius of this program actually hosts the trading session as our mentor. He put this whole program together, so he moderates the two hour trading session. And all we do is we follow his program, his software program. That tells us exactly what to do. And when it's really that easy. And while the software is telling us exactly what to do, and by the way, it lights up. It's like a Christmas tree are our mentor is verbally describing what's appearing on the screen. You know how easy is that to follow along? I mean, it's kind of like the game of follow the leader, so everyone is in the group and the group is quite large. We have people from all across the country. Yeah. And by the way on this show, we always like to welcome our new members. We don't do it by name anymore. We've got we're a little too big for that we have about 50 new members just in the past month. So our group is growing exponentially. Thistles becoming very popular. We refer to this is the new age of earning. Way can't call this a jail B. I don't even like saying that word. But the thing is our mentor verbally describes what's going on. Now, even though what's appearing on the screen is what you can follow, just like paint by numbers and again. There's only two colors, so it's very simple. Anyone can do it. If you can send an email. This is easier than that, actually. Now I know By this time there's a lot of people that are thinking this sounds entirely too good to be true. And we actually hear that every day. What you're going to find out is that this doesn't fit under that phrase too good to be true. When you show up and you sit in on one of our sessions, you're going to see what we do. And you're gonna say Wow, You know what, What Michael and John said on the radio is 100% accurate? And we want you to see that for yourself. Don't take our word for it. Come see it for yourself, and we take a lot of pride and what we say Yeah, And there's that old saying that Knowledge is power. And I believe knowledge is it is power. But real power is taking action. You have that opportunity to do so. You know, they say that you're also you're the five people that you associate with will associate yourself with winners. And you can. What do you have to do? You call the number? I mean, you call the toll free number 888. 6468787 and you can talk to someone right now and you can get. I think they're allowing to free sessions. It's like taking a Ferrari for a test drive for free. This. This to me is the Ferrari of making money and you get to test it before you buy it. And it's absolutely phenomenal. You don't have to put stuff in your garage, Gather your friends or beg your friends to join.
"warren buffett" Discussed on Inside the Spa Business | Spa
"Warren buffett is a name that many of you will be familiar with the oracle of omaha as they call him and a guy considered by many to be one of the smartest long-term investors going around. And i'm always fascinated when an interview with warren buffett. About how simply. He manages to express things he has a really simplistic approach to life and business in general and i saw an interview with him the other day where he was being quizzed on the relationship between consumption an income and this was in the context of more macro economic conversation. More about a country level kind of discussion. But the answer to the question for warren is expressed in such a way that it applies to all of this in just our own family budgets. He said quite simply that you need to adjust your consumption to your income and not your income to your consumption which is obviously a pretty simple message. But i think it's one that bays repeating because we tend to get sucked into this endless loop of consumption and when you do that you'll continually on the search for more income. So you can keep upping your consumption. But according to warren the way to achieve success ultimately and achieve happiness food for that matter is to make sure that you adjust your consumption based on your income levels. It's a pretty simple message so there it is. Adjust your consumption to your income. Don't do it the other way round trying to just your income to your consumption because chances are number one you'll make yourself unhappy even if you do succeed and if you do succeed you'll probably just end up back on this endless consumption lou and out seeking again for more income. It'll probably never end or that. Is it for today. I do thank you for your time and we'll be back again tomorrow..
"warren buffett" Discussed on KSFO-AM
"Then what happened in 2008? Assed. Warren Buffett put it, he said. When the tide went out, it revealed who was swimming naked in 2008. In other words, people were not protected. They did not have what I call a protective overlay. If your money is in the market, or you did not have a strategy like indexing where When the market goes down, you don't lose. Because your money has been repositioned out of the market. See, a lot of our clients in 2008 were like cheering. Go, go go down because they didn't lose a dime. They may not have made very much in 2008, but they didn't lose in 2009, many of them locked in gains of 16% tax free. After not losing a penny. Most Americans had to wait around four years until 2012 to get back What they lost in just 2008. Folks you need to learn about this strategy is called indexing. So what are the three biggest reasons and that cause most Americans to outlive their money? It's not really a function of how much do you have saved because it depends on how frugal you are. You could have a half a million and not outlive your money if it's in a diversified portfolio of laser funds, if you are very frugal and conservative. If you have a million dollar nest egg, you can actually have the same net spendable income as somebody who has two million twice that much in I raise and for one case in the market, okay? Because you can get by on less money if you're immune from taxes, inflation of market volatility, So the three reasons that causes most people outlive their money or not have as much income it our taxes number one to inflation. Three would be your market volatility. Get rid of those three dangers and eliminate them. Make yourself immune. Now. Sometimes people go. Whoa! How do you do that? And this is why I've written 11 books. I teach it in my books I have over 400 educational videos. Most of them are on my YouTube channel three dimensional wealth. But this is why I'm very passionate about teaching educational webinars. Now, If this is beginning to arouse your curiosity, this is about you. I let all my professional license is automatically expire the last business day of 2005. Become a consumer advocate and teach and write books and get on the radio and TV and YouTube. And so I want you to take advantage of getting educated. So you don't outlive your money you can get by on less than most Americans have to have in order to retire. Or you can have twice the income. However, you want to look at it. And so this coming Wednesday we are going to teach a very powerful 90 minute. Educational webinar. It's a free webinar. And we're going to start at 12 o'clock noon. That is Pacific time, which would be 1 p.m.,.