Latest / The Paul Barron Crypto Show / 60 Minutes Interview Crashes Crypto️‍🔥Buy The Dip?

Transcript

60 Minutes Interview Crashes Crypto️‍🔥Buy The Dip? · The Paul Barron Crypto Show

• 0:06
  Speaker 1: My name is Paul Barren. Welcome back in the tech path.
• 0:08
  Speaker 1: Let me get into a couple of details here today.
• 0:10
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• 0:13
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• 0:15
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  Speaker 1: so get started there with I Trust Capital. Let's go
• 0:46
  Speaker 1: over to a couple of the notes today and I'm
• 0:49
  Speaker 1: going to go and start in with the KOBEEC letter.
• 0:52
  Speaker 1: There's a couple of things that are going to be
• 0:53
  Speaker 1: happening this week that you need to be aware of.
• 0:55
  Speaker 1: We're going to have the New York Fed the consumer
• 0:58
  Speaker 1: inflation expectations on Monday, today most likely I haven't seen
• 1:01
  Speaker 1: them yet.
• 1:02
  Speaker 2: OPEK is going to get their report out.
• 1:04
  Speaker 1: The CPI data on Wednesday is a big one, and
• 1:06
  Speaker 1: then of course we get the follow up on the PPI.
• 1:08
  Speaker 1: Remember that the FOMC meeting, that's the meeting for Chair
• 1:14
  Speaker 1: Powell when he gives you the interest rate. That's next week,
• 1:17
  Speaker 1: So we'll be covering that live and that could be
• 1:20
  Speaker 1: a big factor going into right before the Santa rally.
• 1:24
  Speaker 1: If we do get one other things jobless claims that'll
• 1:28
  Speaker 1: come out on Thursday, that's the one I'm kind of
• 1:29
  Speaker 1: looking for, we could get a surprise there. So a
• 1:32
  Speaker 1: lot of things happening this week.
• 1:34
  Speaker 2: They could affect the markets.
• 1:35
  Speaker 1: Generally not necessarily great for what's happening, but hey, it's
• 1:39
  Speaker 1: going to We're going to see some moves. And when
• 1:42
  Speaker 1: you think about what the market is doing right now,
• 1:44
  Speaker 1: many people are pointing to the sixty minutes video that
• 1:48
  Speaker 1: had Brad Garlinghouse and of course Ripple.
• 1:52
  Speaker 2: It wasn't a.
• 1:52
  Speaker 1: Shining representation of crypto in general. And I think this
• 1:57
  Speaker 1: is always in many cases by the mainstream media look
• 2:00
  Speaker 1: at as a way to strategy create strategy against crypto.
• 2:04
  Speaker 1: A lot of things were not said. A lot of
• 2:06
  Speaker 1: things were not revealed, including the biggest I thought was
• 2:08
  Speaker 1: the fact that Ripple won their case and was deemed
• 2:11
  Speaker 1: by courts not a security. That really didn't come out
• 2:15
  Speaker 1: as much as it should have in the interview.
• 2:17
  Speaker 2: But here's garling House.
• 2:19
  Speaker 1: Crypto made its debut on sixty minutes. No doubt that
• 2:21
  Speaker 1: these technologies will continue to become a more mainstream. A
• 2:24
  Speaker 1: few things I did and I want to comment after watching,
• 2:28
  Speaker 1: and a couple of things he says, is this to
• 2:31
  Speaker 1: say that crypto has no utility? Exactly what the naysayer
• 2:34
  Speaker 1: said about the Internet. There were a lot of things
• 2:37
  Speaker 1: within it where sixty minutes was jumping to a lot
• 2:39
  Speaker 1: of conclusion than they added Johnrey Stark, which has been
• 2:42
  Speaker 1: not a crypto proponent for quite a while and is
• 2:45
  Speaker 1: now more of a consultant. So interesting that they brought
• 2:47
  Speaker 1: him in. Other things I want to hit on real quick.
• 2:50
  Speaker 1: And that was this right here by Perry Ann coming
• 2:53
  Speaker 1: from the Digital Chamber, and she said tonight's sixty minutes
• 2:56
  Speaker 1: Crypto segment a missed opportunity. Her statement was this evening
• 3:00
  Speaker 1: we got a thirteen minute feature on sixty minutes. Unfortunately
• 3:03
  Speaker 1: it fell short of being informed and balanced. That's the
• 3:06
  Speaker 1: problem right now. The real question, and I'd love to
• 3:10
  Speaker 1: know what you guys think is does sixty minutes and
• 3:14
  Speaker 1: is it still relevant to people that would most likely
• 3:18
  Speaker 1: invest in crypto now?
• 3:19
  Speaker 2: And I remember that maybe sixty.
• 3:21
  Speaker 1: Minutes is most likely getting into the boomer and possibly
• 3:25
  Speaker 1: even gen X as a demographic, my demographic gen X.
• 3:29
  Speaker 1: If you look at that, and then you look at
• 3:31
  Speaker 1: really where the growth of investment is coming from, did
• 3:35
  Speaker 1: it really matter what sixty minutes was saying. I don't know,
• 3:37
  Speaker 1: you guys, let me know down in the comments blow
• 3:39
  Speaker 1: did it matter or was it just a polished look
• 3:42
  Speaker 1: that we should have had in one of the bigger
• 3:45
  Speaker 1: news outlets out there. Taking a look at XRP. Let
• 3:50
  Speaker 1: me just jump up here to the XRP chart over
• 3:53
  Speaker 1: the weekend. You can kind of see a little bit
• 3:55
  Speaker 1: of a dip right here, but that was, of course
• 3:57
  Speaker 1: after the falloff we had earlier in the week. So
• 3:59
  Speaker 1: there is ripple or excuse me, XRP coming down almost
• 4:03
  Speaker 1: twenty percent and then that nice seven percent right now.
• 4:06
  Speaker 2: Many people will look at this and say, hey, well.
• 4:08
  Speaker 1: Paul, this is a great DCA opportunity When you're looking
• 4:11
  Speaker 1: at trying to average out some of your investments, Maybe
• 4:14
  Speaker 1: now is the time to take a look at some
• 4:17
  Speaker 1: of these, including if you're looking at Bitcoin or even ethereum,
• 4:20
  Speaker 1: most of which the market is down. If you look
• 4:22
  Speaker 1: at the most of the losers, you get near at
• 4:24
  Speaker 1: almost ten percent down on the market. Double digit stacks
• 4:28
  Speaker 1: had been moving down. TIA was down over ten. There's
• 4:31
  Speaker 1: quite a bit there that has been moving downward. Now
• 4:34
  Speaker 1: the question right now, I think, is still what's it
• 4:37
  Speaker 1: going to look like coming into the next phase. And
• 4:40
  Speaker 1: one of the things that people are looking at is
• 4:42
  Speaker 1: bitcoin as a long term Holders now are starting to sell.
• 4:46
  Speaker 1: So about eight hundred and twenty eight thousand bitcoin we're
• 4:48
  Speaker 1: sold in US thirty days. Many people saying, well, hey,
• 4:51
  Speaker 1: this was a time for us to rotate in get
• 4:53
  Speaker 1: a little profit.
• 4:54
  Speaker 2: And new people are coming in.
• 4:55
  Speaker 1: Whether it's through the ETFs or through direct access. So
• 4:58
  Speaker 1: it's a game of musical chairs. Enjoy the ride, where
• 5:01
  Speaker 1: be prepared when the music stops. And that's one of
• 5:03
  Speaker 1: the things you have to look for. Many people may
• 5:05
  Speaker 1: look at bitcoin and say, hey, it doesn't really matter.
• 5:07
  Speaker 1: It's hit over one hundred k. The likelihood even if
• 5:10
  Speaker 1: a mass retlacement occurs, I'm going to still be up
• 5:15
  Speaker 1: because I was in bitcoin much earlier. For many people
• 5:17
  Speaker 1: holding more than a year, they're going to be safe,
• 5:19
  Speaker 1: possibly even through this next crash. So there's a lot
• 5:24
  Speaker 1: still positive there for bitcoin. One thing to consider though,
• 5:27
  Speaker 1: is bitcoin's climb in terms of its value, and now
• 5:31
  Speaker 1: bitcoin has overtaken the Australian dollar. That's the world's tenth
• 5:35
  Speaker 1: largest currency right now, Bitcoin holding number ten. So if
• 5:39
  Speaker 1: it continues to grow, which I think it will, we've
• 5:41
  Speaker 1: got a lot happening here. Micro's strategy bought another twenty
• 5:44
  Speaker 1: one thousand, and bitcoin guy never stops. He truly believes
• 5:47
  Speaker 1: in this, and I think when you look at that
• 5:49
  Speaker 1: and when you look at the potential for other major companies,
• 5:53
  Speaker 1: because that's his big I think his big soapbox right
• 5:56
  Speaker 1: now is to get major companies Fortune five hundred to
• 5:59
  Speaker 1: come in and put bitcoin on their balance sheet. Many
• 6:02
  Speaker 1: people think, including consultants, saying that Amazon should come in
• 6:06
  Speaker 1: and invest about five percent of its assets into bitcoin.
• 6:09
  Speaker 1: If you look at some of the other ones that
• 6:10
  Speaker 1: they're picking on right here, which would be huge, eighty
• 6:13
  Speaker 1: eight billion of Amazon's five hundred and eighty five billion
• 6:16
  Speaker 1: in assets comprised of cash and cash equivalents which are
• 6:20
  Speaker 1: not earning the kind of returns that investors like. And
• 6:23
  Speaker 1: you look at this also, Amazon isn't adequately protecting the
• 6:27
  Speaker 1: billions of dollars of shareholder value in these assets. And
• 6:31
  Speaker 1: again that's even with five percent of just going into bitcoin.
• 6:34
  Speaker 1: So there's a lot of people pushing to this. Microsoft
• 6:37
  Speaker 1: is also being looked at another five trillion in there.
• 6:40
  Speaker 1: You've got government bitcoin reserves that could play into this.
• 6:43
  Speaker 1: The potential for this coming on strong into the first
• 6:48
  Speaker 1: of the year is real, and a lot of people
• 6:50
  Speaker 1: are looking at that. One other thing that is playing
• 6:52
  Speaker 1: out right here, Apple, Google, Amazon, Microsoft, All these ten
• 6:56
  Speaker 1: companies held eight hundred and eleven billion in cash zero bitcoin.
• 7:01
  Speaker 1: So there is the trough of potential inbound investments into
• 7:05
  Speaker 1: bitcoin holdings if in fact they come in and look
• 7:08
  Speaker 1: at who's in the top list now micro Strategy holding
• 7:11
  Speaker 1: twenty six billion right now, All right, a couple other
• 7:15
  Speaker 1: things I want to hit on.
• 7:16
  Speaker 2: Crypto is a movement.
• 7:18
  Speaker 1: This is I think the source and the kind of
• 7:20
  Speaker 1: the heartbeat of what's been happening. I BIT officially pass
• 7:24
  Speaker 1: fifty billion in assets under management.
• 7:26
  Speaker 2: First time.
• 7:26
  Speaker 1: This is a huge ETF, biggest etf ever in the
• 7:29
  Speaker 1: history of ETFs. A bitcoin ETF two hundred and twenty
• 7:32
  Speaker 1: eight days to reach that. You put it in the
• 7:35
  Speaker 1: perspective of gold that took five and a half years
• 7:37
  Speaker 1: to achieve a fifty billion dollar AUM, so pretty significant
• 7:42
  Speaker 1: speed there. And of course prices have risen thirty two
• 7:44
  Speaker 1: percent over the past month and a historic one hundred
• 7:48
  Speaker 1: thousand dollars has now been hit. So people are looking
• 7:50
  Speaker 1: at it and we are witnessing history. If you really
• 7:53
  Speaker 1: think about assets in general, is this the time in
• 7:56
  Speaker 1: which digital assets have finally taken over? Are we living
• 8:00
  Speaker 1: through that social media moment, that mobile moment of digital
• 8:05
  Speaker 1: assets starting to take place in the world stage. I
• 8:08
  Speaker 1: think we might be. Here's Kyle Lubs coming in right.
• 8:11
  Speaker 1: Here's stablecoin market cap just crossed two inund bill fuel
• 8:14
  Speaker 1: by DeFi yields crushing traditional finance rates. This is the
• 8:18
  Speaker 1: thing that I think will cause people a little bit
• 8:21
  Speaker 1: of pause, is that we're getting DeFi yields that are
• 8:24
  Speaker 1: out pacing traditional finance. This is where it gets very
• 8:28
  Speaker 1: interesting on the more aggressive and a little higher risk
• 8:31
  Speaker 1: investor that are willing to go after a consistent yield
• 8:35
  Speaker 1: that also plays into the benefit of digital assets. Bitcoin
• 8:38
  Speaker 1: also highly likely that could be in a super cycle.
• 8:41
  Speaker 1: This is coming in from Alex Krueger. A couple of
• 8:43
  Speaker 1: points he hits on here in the article. He compared
• 8:46
  Speaker 1: this to a dramatic change to golds transformation in the seventies,
• 8:49
  Speaker 1: and that was when Nixon basically flipped over to the
• 8:51
  Speaker 1: gold standard in seventy one and we saw that massive surge.
• 8:55
  Speaker 1: So that was Breton Woods, all of the shift during
• 8:57
  Speaker 1: that time. All of this could be playing right now.
• 9:01
  Speaker 1: Kruger anticipates a major local top around March of twenty
• 9:05
  Speaker 1: twenty five.
• 9:05
  Speaker 2: Where do you think it's gonna land? Where do you
• 9:06
  Speaker 2: think bitcoin would be by March?
• 9:09
  Speaker 1: It's still almost four months away, not quite about three
• 9:12
  Speaker 1: and a half months away. Let me know down in
• 9:13
  Speaker 1: the comments. Make sure it's subscribed to the channel if
• 9:15
  Speaker 1: you haven't done that already. It does help us out.
• 9:19
  Speaker 1: And also it's on our trace to get to one
• 9:21
  Speaker 1: hundred or excuse me, one million subs, So just check
• 9:25
  Speaker 1: us out over there and hit that subscribe button.
• 9:28
  Speaker 3: All right.
• 9:28
  Speaker 1: I want to go to a clip real quick because
• 9:29
  Speaker 1: this is Mark Youso and Mark has been on our
• 9:32
  Speaker 1: show many times. In fact, I feel still feel that
• 9:34
  Speaker 1: he probably got the hundred K number right.
• 9:37
  Speaker 2: It was within days of it.
• 9:39
  Speaker 1: And if you listen to this clip, the key he's
• 9:41
  Speaker 1: talking about is the cycle for twenty twenty five and
• 9:44
  Speaker 1: want to expect tick a.
• 9:45
  Speaker 2: Look, I am.
• 9:47
  Speaker 3: Still a believer that the four year cycle exists. I
• 9:50
  Speaker 3: know there are some now saying that you know, because
• 9:53
  Speaker 3: of Trump and because of the bigcoin strategic reserve, and
• 9:57
  Speaker 3: you know, there's going to be this massive movement toward
• 10:01
  Speaker 3: accumulating bitcoin and the four year cycle is going to
• 10:04
  Speaker 3: go out the window. I'm gonna bet that humans are
• 10:09
  Speaker 3: going to human. So to me, fair value is right
• 10:12
  Speaker 3: around that that six digit level. I figured we would
• 10:16
  Speaker 3: blow through that that six digit number and then humans
• 10:20
  Speaker 3: would human. The humans would come in and they'd start
• 10:22
  Speaker 3: to lever up, and we'd see a parabolic move probably
• 10:26
  Speaker 3: to one twenty maybe even one p fifty this time
• 10:30
  Speaker 3: in twenty five. It'll be April ish and that would
• 10:33
  Speaker 3: kind of make sense. A year after the having then
• 10:37
  Speaker 3: the question is do we get the passage of the
• 10:41
  Speaker 3: strategic bitcoin reserve? Could that push us well past that
• 10:46
  Speaker 3: that one hundred and fifty K range it's certainly possible,
• 10:51
  Speaker 3: and then unfortunately we have another bear market starting mid
• 10:55
  Speaker 3: year twenty twenty five, and we enter crypto winter again.
• 11:01
  Speaker 1: All right, so many people are looking at this as
• 11:03
  Speaker 1: being the heat of the bull run, and you look
• 11:07
  Speaker 1: at some of the other assets that could be moving.
• 11:09
  Speaker 1: First of all, address what Yusko said, because many people
• 11:12
  Speaker 1: will say, what do you think, Paul? You look at
• 11:14
  Speaker 1: two things here, and I think that what we're in
• 11:17
  Speaker 1: right now.
• 11:18
  Speaker 2: I don't know that I.
• 11:18
  Speaker 1: Would call it a supercycle, but I'd also not necessarily
• 11:22
  Speaker 1: call it the traditional cycle. So I feel like there's
• 11:25
  Speaker 1: still going to be a nice run up. The question
• 11:28
  Speaker 1: is is do we get the retracement down. I don't
• 11:30
  Speaker 1: think the retracement goes as deep as it has, and
• 11:33
  Speaker 1: that's pretty much been the cycle overall. We haven't seen
• 11:36
  Speaker 1: as deep a cuts into the market, but even this
• 11:39
  Speaker 1: time around, I think as we start to see governments
• 11:41
  Speaker 1: and larger companies starting to hold it, I don't know
• 11:44
  Speaker 1: that we get the kind of retracement at least on Bitcoin.
• 11:46
  Speaker 1: Now all coins not necessarily going to be the case,
• 11:50
  Speaker 1: but there's going to be some major wins in all coins,
• 11:54
  Speaker 1: and of course the leader of the pack on that
• 11:56
  Speaker 1: is going to be Ethereum, Ethereum spot ETFs now shattering
• 12:00
  Speaker 1: records at eight hundred and thirty seven million on inflows.
• 12:03
  Speaker 1: Two points I want to hit at right here. This
• 12:05
  Speaker 1: is led by Blackrocks eth a fund which was five
• 12:08
  Speaker 1: hundred and seventy three mil. And the other point I'm
• 12:10
  Speaker 1: going to hit on is you get into cycles again
• 12:13
  Speaker 1: with ethereum. Many people look at the all coin cycle
• 12:17
  Speaker 1: and also when Eth moves and how it triggers other
• 12:21
  Speaker 1: tokens to also look at liquidity. The other factor you
• 12:24
  Speaker 1: have to kind of compare to is Bitcoin's dominance in
• 12:27
  Speaker 1: comparison to Eth. That's also flipping around a little bit.
• 12:30
  Speaker 1: So very interesting things happening right now. The ethereum chart
• 12:33
  Speaker 1: signals right now some traders are saying, hey, we might
• 12:36
  Speaker 1: see a new high that could be as early as
• 12:38
  Speaker 1: next week. That would be impressive if we saw a
• 12:42
  Speaker 1: forty eight hundred dollars eight by next week. Some cryptocombinators
• 12:45
  Speaker 1: are saying a mayor's re test, it's all time high
• 12:49
  Speaker 1: within the next seven days. I'm not necessarily in that camp.
• 12:53
  Speaker 1: There is one factor that we'll play into this, and
• 12:56
  Speaker 1: this is going to be next week's FOMC meeting. If
• 12:59
  Speaker 1: we get into the rake cut and we don't get
• 13:01
  Speaker 1: necessarily get a bad CPI number and a bad jobs number,
• 13:05
  Speaker 1: we could be in a nice little win at a
• 13:09
  Speaker 1: perfect timing scenario of where ethereum is on the chart,
• 13:12
  Speaker 1: and especially where Ethereum is in this cycle. So very
• 13:16
  Speaker 1: interesting things happening. All coin season. Index has retraced back down.
• 13:20
  Speaker 1: If you look at how this is kind of looked at,
• 13:23
  Speaker 1: we were in it right there at about eighty eight,
• 13:26
  Speaker 1: retracing back down here to seventy one right now, and
• 13:29
  Speaker 1: that of course is based on the current charts of
• 13:31
  Speaker 1: where all coins are going. And I'd love to see
• 13:34
  Speaker 1: what are you guys playing. Are you buying this dip
• 13:35
  Speaker 1: right now? Is this a potential opportunity for you to
• 13:38
  Speaker 1: go in on maybe some tokens you have an ad
• 13:41
  Speaker 1: exposure to. We just did a big video on Polka dot.
• 13:44
  Speaker 1: Check it out, because there's some things over there that
• 13:47
  Speaker 1: are happening and brewing with.
• 13:48
  Speaker 2: The TikTok situation.
• 13:49
  Speaker 1: So are there some potentials there other potentials that could
• 13:52
  Speaker 1: play into this. Remember Salana still retracing back down to
• 13:56
  Speaker 1: around two twenty. I don't know if that's a position
• 13:59
  Speaker 1: for an entry that would necessarily not be one that
• 14:01
  Speaker 1: I would look at. But interestingly enough, you look at
• 14:05
  Speaker 1: where sol NFTs are rallying today, So that's a factor
• 14:08
  Speaker 1: that could be playing into this with more sol NFTs
• 14:12
  Speaker 1: starting to play into it, and you think about there's
• 14:15
  Speaker 1: clinosaurs flying up, tnsaurians, et cetera. You think about the
• 14:18
  Speaker 1: NFT cycle because remember we still have a potential for
• 14:21
  Speaker 1: NFTs coming through this bull run and it is yet
• 14:25
  Speaker 1: to actually occur.
• 14:26
  Speaker 2: So there's a lot happening out there.
• 14:28
  Speaker 1: Definitely some things that could be perfect for even short
• 14:32
  Speaker 1: term trades. You know, if you're looking at a small
• 14:35
  Speaker 1: swing trades, or maybe you're just looking at doing some
• 14:37
  Speaker 1: quick in and outs. These are the kind of days
• 14:39
  Speaker 1: that actually you like, and that is where there's a
• 14:41
  Speaker 1: lot of volatility in the markets. You guys are not
• 14:44
  Speaker 1: in the diamond circle, might sure and jump in on
• 14:46
  Speaker 1: that right now. It's a great place to get additional
• 14:47
  Speaker 1: content from us, and also catch me out there on
• 14:51
  Speaker 1: X at Paul Baron. We'll catch you next time right
• 14:53
  Speaker 1: here on Techpath