Latest / The Paul Barron Crypto Show / Banks Tell You To Sell Now📉Crypto Market Update🔥

Transcript

Banks Tell You To Sell Now📉Crypto Market Update🔥 · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Is it time to take profits the banks think? So
• 0:02
  Speaker 1: Today we're going to break it down. There is a
• 0:04
  Speaker 1: lot to talk about as we go into the market
• 0:06
  Speaker 1: this week. I do want to thank our sponsor, though,
• 0:09
  Speaker 1: and that is Tangent, where you guys can get into
• 0:11
  Speaker 1: self custody.
• 0:11
  Speaker 2: If you are brand new to crypto, this is the.
• 0:13
  Speaker 1: Thing you want to put on your checklist, and that
• 0:16
  Speaker 1: is being able to put your own digital assets in
• 0:19
  Speaker 1: your own self custody wallet. It is one of the
• 0:21
  Speaker 1: most liberating things to do that you will ever think
• 0:25
  Speaker 1: about in crypto.
• 0:26
  Speaker 2: Trust me.
• 0:27
  Speaker 1: Check out tangent dot com. You guys can, of course
• 0:29
  Speaker 1: get your card over there, get a three card set.
• 0:31
  Speaker 2: They also have a.
• 0:32
  Speaker 1: Ring and a variety of different devices you guys can use.
• 0:34
  Speaker 1: But the point is self custody very easy to set up,
• 0:38
  Speaker 1: super secure using the Tangum ecosystem, So check it out.
• 0:42
  Speaker 1: I want to lead off here with Patrick Witz tweet
• 0:45
  Speaker 1: a big week ahead for Clarity, and we are going
• 0:47
  Speaker 1: to see most likely some news coming out of DC.
• 0:50
  Speaker 1: The work has continued in earnest behind the scenes, so
• 0:54
  Speaker 1: I'm actually glad to hear that because I think if
• 0:57
  Speaker 1: we are seeing real progress being made, maybe we might
• 1:01
  Speaker 1: get a surprise here. And of course the issue right
• 1:04
  Speaker 1: now has narrowed and good faith offers are being vote forward.
• 1:08
  Speaker 1: I wonder what issues have narrowed. Is it still an
• 1:11
  Speaker 1: ethics issue? Is there something else? Are there any privacy concerns,
• 1:15
  Speaker 1: any CBDC band concerns. I mean, there's a lot of
• 1:17
  Speaker 1: things that were in that bill that potentially the Democrats
• 1:21
  Speaker 1: could somehow negotiate, So be thinking about that.
• 1:24
  Speaker 2: One thing though, that is continuing.
• 1:26
  Speaker 1: To be a big part of that is going to
• 1:28
  Speaker 1: be the stable coin bands. And when you look at
• 1:31
  Speaker 1: the biggest anti stable coin group out there, you got
• 1:35
  Speaker 1: to look at JP Morgan's CEO, Jamie Diamond. He says
• 1:38
  Speaker 1: he's not happy with the Crypto Clarity Act and coinbased
• 1:40
  Speaker 1: cr CEO Brian Armstrong is you know what fos point
• 1:44
  Speaker 1: being here is that maybe Jamie is feeling the heat
• 1:49
  Speaker 1: and starting to maybe lose the stable coin band position,
• 1:53
  Speaker 1: or he thinks he is. I'm not sure because he
• 1:55
  Speaker 1: seemed very very upset about this. Brian Armstrong actually responded
• 1:59
  Speaker 1: to where this is and I'll explain why.
• 2:01
  Speaker 3: Take a look Diamond recently called you quote full of shit.
• 2:06
  Speaker 3: I am quoting there.
• 2:08
  Speaker 2: How do you respond to him.
• 2:10
  Speaker 4: Well, you know, I've got a lot of respects for
• 2:11
  Speaker 4: Jamie Diamond, so it was kind of sad to hear
• 2:14
  Speaker 4: that Japie Morgan is a great company, that he's put
• 2:16
  Speaker 4: up incredible numbers there. I feel like I've learned a
• 2:18
  Speaker 4: lot from him, Honestly, I'm like a little perplexed by that.
• 2:21
  Speaker 4: I think in general, when people communicate through the media,
• 2:25
  Speaker 4: nuance gets lost. Same thing with social media, there's not
• 2:27
  Speaker 4: a ton.
• 2:28
  Speaker 3: Of nuance and full of shit, I have to.
• 2:30
  Speaker 5: Say, I agree.
• 2:32
  Speaker 4: I mean, yeah, I don't know exactly what that's all about.
• 2:35
  Speaker 3: I saw you posted an image of you and Diamond
• 2:38
  Speaker 3: as the characters and heated rivalry. You do know that
• 2:42
  Speaker 3: they were lovers in that show, right, Really?
• 2:47
  Speaker 6: What can I say?
• 2:47
  Speaker 4: It's a beautiful love story. They fall in love at
• 2:49
  Speaker 4: the end.
• 2:49
  Speaker 3: So is that what you're hoping for with you and Jamie?
• 2:54
  Speaker 4: Like I said, got a lot of respect for him,
• 2:57
  Speaker 4: all right, guys, I'm not sure about that answer from
• 3:00
  Speaker 4: Brian Listen.
• 3:02
  Speaker 2: I would agree with the reporter there. Full of shit is.
• 3:05
  Speaker 1: Just that I think you could take him at his word.
• 3:08
  Speaker 1: This is something though, that we've kind of thrown out
• 3:11
  Speaker 1: there and that is potentially JP Morgan looking for a target.
• 3:16
  Speaker 1: And when I say a target for acquisition, when you
• 3:19
  Speaker 1: look at a market position as what we've seen with coinbase,
• 3:22
  Speaker 1: maybe they still are one. And maybe that's what Brian
• 3:24
  Speaker 1: is in the middle of doing. I don't understand why
• 3:27
  Speaker 1: he would be so easy on this would be the
• 3:30
  Speaker 1: perfect time to do it, to kind of stand up
• 3:32
  Speaker 1: to the banks and show that, and they did not.
• 3:36
  Speaker 1: Speaking of the banks, right here, you've got Bank of
• 3:38
  Speaker 1: America saying, hey, it's time to take profits. It is
• 3:41
  Speaker 1: going in strong and of course, if you look at
• 3:43
  Speaker 1: how the markets have been performing, many people looking at
• 3:46
  Speaker 1: this as a lot of red flags starting show. We've
• 3:49
  Speaker 1: seen one pullback including the S and P also a readjustment.
• 3:53
  Speaker 1: We have one of the biggest IPOs hitting this week.
• 3:55
  Speaker 1: What do you guys think, is it time to take profits?
• 3:58
  Speaker 1: And if you're holding treasuries, ins in stocks, will.
• 4:02
  Speaker 2: This be the week you do it?
• 4:04
  Speaker 1: Will you do it pre spacexipo or do you think
• 4:06
  Speaker 1: that would start to suck some liquidity out of the market.
• 4:08
  Speaker 1: Let me know what you think down in the comments.
• 4:10
  Speaker 1: I'd love to get your input. One thing I do
• 4:12
  Speaker 1: want to hit on is it time to buy the dip?
• 4:15
  Speaker 1: Is the question mark? Here is Bloomberg talking a little
• 4:18
  Speaker 1: bit more about it.
• 4:19
  Speaker 2: Is today a day to buy the dip?
• 4:20
  Speaker 7: I don't think so. I think that the pain we've
• 4:22
  Speaker 7: seen from last week is a little bit more to
• 4:24
  Speaker 7: play out. Is this the bursting of the eyebubble? I mean,
• 4:28
  Speaker 7: it's certainly a possibility, but perhaps not yet.
• 4:31
  Speaker 2: I think that the way.
• 4:32
  Speaker 7: The space XIPO has been generated that I think it's
• 4:35
  Speaker 7: causing some short term disruption, but ultimately it'll probably you know,
• 4:39
  Speaker 7: prompt and maybe one more leg higher. This situation in
• 4:42
  Speaker 7: the Middle East is looking pretty bleak still, and that is,
• 4:46
  Speaker 7: you know, causing real economic damage every day that it persists.
• 4:52
  Speaker 7: So I know. And yet we've got financial markets that,
• 4:55
  Speaker 7: even after the correction at the end of last week,
• 4:57
  Speaker 7: are priced for an extraordinarily positive world. So I think
• 5:01
  Speaker 7: that disconnect until we get some material positive news, that
• 5:06
  Speaker 7: disconnect only kind of converges or recloses again via financial
• 5:10
  Speaker 7: markets pricing slightly weaker in the short term. So that's
• 5:13
  Speaker 7: the genomic I'm.
• 5:13
  Speaker 2: Expected to play out.
• 5:14
  Speaker 7: Sure, we could suddenly get a headline saying deal a
• 5:17
  Speaker 7: great straights opening this week, but I think that's extremely
• 5:21
  Speaker 7: unlikely given the news flow we've had.
• 5:23
  Speaker 1: All right, So I'm kind of in agreement with cud
• 5:26
  Speaker 1: More here in the sense that it is likely that
• 5:28
  Speaker 1: we could see another major pullback, especially because of what
• 5:33
  Speaker 1: will and most likely will happen with the SPACEXIPO. But
• 5:36
  Speaker 1: more importantly, I think around the AI ecosystem in general,
• 5:40
  Speaker 1: including a lot of the stocks that are playing into that. Now,
• 5:42
  Speaker 1: will that be, you know, a devastating scenario that plays
• 5:46
  Speaker 1: into the market.
• 5:47
  Speaker 2: I don't know if it's going to.
• 5:48
  Speaker 1: Be that big of a cut, but it could be
• 5:50
  Speaker 1: a big enough one where you could reposition a lot
• 5:54
  Speaker 1: of how you're playing the market, whether it's in stocks
• 5:57
  Speaker 1: or even in risk assets like crypto. The other thing
• 5:59
  Speaker 1: that he mentioned was the issue in Iran, and this
• 6:03
  Speaker 1: is one that I am concerned with. Originally, my thesis
• 6:07
  Speaker 1: was that we would be out of there much quicker
• 6:10
  Speaker 1: than where we are now, and I think, what the
• 6:12
  Speaker 1: fact that this has taken so long to get an
• 6:14
  Speaker 1: exit ramp out of the Israel and Iranian conflict and
• 6:19
  Speaker 1: all of us being right there in the middle of this,
• 6:20
  Speaker 1: I think is a big issue, and it's going to
• 6:22
  Speaker 1: play into the markets for some time. And I don't
• 6:24
  Speaker 1: know that we have seen the full market hit on
• 6:27
  Speaker 1: this just yet, even though President Trump and says that
• 6:30
  Speaker 1: Israel and Iran are looking to agree on an immediate ceasefire. Again,
• 6:34
  Speaker 1: I've heard this, Maybe this is the tenth time that
• 6:38
  Speaker 1: I've heard we've got a deal or that we're going
• 6:40
  Speaker 1: to get on negotiations are proceeding. And then there's a
• 6:44
  Speaker 1: counter to that from the IRCG. Point is is, I
• 6:47
  Speaker 1: don't know what. I can't believe anymore because the media
• 6:49
  Speaker 1: cycle coming out of the White House right now is
• 6:51
  Speaker 1: just continuous of false, unfortunately false promises on this. When
• 6:56
  Speaker 1: it happens, yes, it will have an impact on the market.
• 6:59
  Speaker 1: When it happens, it will start to set a precedence
• 7:02
  Speaker 1: of at least maybe a bottom. And I think that
• 7:05
  Speaker 1: will be the question everybody will want answered. Another one
• 7:09
  Speaker 1: that everybody wants answered, well, what's going to happen when
• 7:12
  Speaker 1: SpaceX hits the IPO scene. Well we'll know because it's
• 7:16
  Speaker 1: happening this week. You know, I must has now set
• 7:18
  Speaker 1: to become the first world's first trillionaire, which would be crazy.
• 7:23
  Speaker 1: This is on June twelfth, and this will either be
• 7:26
  Speaker 1: an unbelievable story or it will turn the way most
• 7:33
  Speaker 1: performance IPOs like this, In other words, high end IPO
• 7:36
  Speaker 1: entries in the market, and that has been not good
• 7:39
  Speaker 1: for the most part. SpaceX needs to grow six hundred
• 7:43
  Speaker 1: x over the next decade to justify its one point
• 7:46
  Speaker 1: seventy five trillion valuation. Can you imagine having to grow
• 7:50
  Speaker 1: six hundred x in ten years? This is I mean
• 7:55
  Speaker 1: it granted me up. Maybe there have been companies that
• 7:58
  Speaker 1: are in private mode that have made done that, but
• 8:00
  Speaker 1: I don't know company has ever come close in the
• 8:02
  Speaker 1: history of capitalism right now, so I understand everybody will say, Paul,
• 8:06
  Speaker 1: you don't understand this is this is a play on space,
• 8:08
  Speaker 1: this is infinite. This could be something that we It's
• 8:11
  Speaker 1: like the birth of the Internet and it's all in
• 8:13
  Speaker 1: one company. Okay, that could be an argument because you know,
• 8:17
  Speaker 1: when you look at the dot bomb era, Yeah, if
• 8:19
  Speaker 1: you combined fifty of those top one thousand companies and
• 8:24
  Speaker 1: group that into one ipo, maybe it came up to
• 8:27
  Speaker 1: something even close even with inflation, to where SpaceX is going.
• 8:31
  Speaker 1: But point of growing six hundred x is a big one.
• 8:34
  Speaker 1: Tom Lee goes in and he talks about where the
• 8:37
  Speaker 1: market is right now, take a look.
• 8:40
  Speaker 5: I think the market did have a parabolic lift in
• 8:44
  Speaker 5: the last month, and now I think there's some sobering
• 8:48
  Speaker 5: taking place because expectations are higher. But I also think
• 8:53
  Speaker 5: that SpaceX seventy five billion dollars is a lot to
• 8:58
  Speaker 5: ask the public to fund. So I think it is
• 9:00
  Speaker 5: a big lift in terms of how you're going to
• 9:03
  Speaker 5: fund that purchase. And so I think now when the
• 9:06
  Speaker 5: stock swabbed a little bit, I think people are raising cash.
• 9:09
  Speaker 5: I don't think that this is the start of a
• 9:11
  Speaker 5: broader correction yet, but as you know, we do think
• 9:14
  Speaker 5: that later this year there's going to be something that
• 9:16
  Speaker 5: feels like a bear market.
• 9:18
  Speaker 1: All right, later this year, something that feels like a
• 9:20
  Speaker 1: bear market. Back to my point about AI and a
• 9:23
  Speaker 1: potential rolling snowball that could hit the markets in general.
• 9:28
  Speaker 1: And I'm in agreement with Tom Lee on this, even
• 9:31
  Speaker 1: though he and I sometimes are on opposite sides, but
• 9:34
  Speaker 1: I am in agreement with this.
• 9:35
  Speaker 2: I think the SpaceX may have a negative effect on.
• 9:37
  Speaker 1: The market in general, which could have a very negative
• 9:40
  Speaker 1: effect in general on what we will see in the
• 9:42
  Speaker 1: risk market, but it also could have a long term
• 9:46
  Speaker 1: effect that could repurpose how the markets play out, and
• 9:50
  Speaker 1: that will be the question going forward. Steve Eisman, though
• 9:55
  Speaker 1: says he's not a fan of this at all. And
• 9:57
  Speaker 1: here's why it.
• 9:58
  Speaker 8: Is probably most important and in the perspectives is how
• 10:02
  Speaker 8: capital intensive SpaceX has become. So if you go back
• 10:06
  Speaker 8: to fiscal year twenty twenty three and you look, you
• 10:09
  Speaker 8: compare revenue to CAPEX, CAPEX was only forty two percent
• 10:14
  Speaker 8: of revenue, and in the most recent first quarter it
• 10:17
  Speaker 8: was two hundred and fifteen percent of revenue. Back in
• 10:20
  Speaker 8: fiscal year twenty twenty three, SpaceX was not in AI
• 10:24
  Speaker 8: and Grock, with all due respect to Elon Musk, is
• 10:28
  Speaker 8: not a world class AI company. If you again look
• 10:31
  Speaker 8: at the S one the TAM, the total addressable market
• 10:34
  Speaker 8: is defined a twenty eight point five trillion. Eighty five
• 10:38
  Speaker 8: percent of that TAM is an AI.
• 10:41
  Speaker 2: The entire company.
• 10:44
  Speaker 8: Is being bet on AI in terms of its future,
• 10:48
  Speaker 8: not on space and not on starlink.
• 10:51
  Speaker 1: Okay, So that okay, So I agree and disagree with Iisman.
• 10:55
  Speaker 1: I think they are betting on space and starlink. The
• 10:59
  Speaker 1: real quot question is does he actually pull through on
• 11:02
  Speaker 1: these you know, data centers in the sky. The problem
• 11:05
  Speaker 1: that you run into with a lot of elon companies,
• 11:09
  Speaker 1: and yeah, I think even with Starling to a certain extent,
• 11:13
  Speaker 1: is the length of time it takes to get to
• 11:16
  Speaker 1: that critical mass of the big thing. Because with Tesla
• 11:19
  Speaker 1: it was in reality self driving, and it took them
• 11:24
  Speaker 1: almost twelve years to truly get to a self driving Now,
• 11:27
  Speaker 1: yes they got there, but it came at a very
• 11:31
  Speaker 1: big cost because of the volatility of what Tesla was
• 11:34
  Speaker 1: doing as a stock. And if you kind of compare
• 11:37
  Speaker 1: it to what balshunis is saying, he says, listen, everyone's
• 11:40
  Speaker 1: saying performance after ipoing sucks. Historically it has, but last
• 11:45
  Speaker 1: year wasn't the case. IPOs were positive over the one, three,
• 11:48
  Speaker 1: and six, not saying SpaceX will follow. And this is
• 11:51
  Speaker 1: where I would maybe rethink this a bit. And there's
• 11:55
  Speaker 1: a reason why. I remember that the IPOs that we
• 11:57
  Speaker 1: saw last year were in the midst of a heated
• 12:01
  Speaker 1: run up all around the AI theme. Okay, that has
• 12:06
  Speaker 1: started to pause slightly. Now could SpaceX benefit from being
• 12:11
  Speaker 1: on the tail end of this before we go into
• 12:13
  Speaker 1: what Tommy is calling a bear market? I think that's
• 12:16
  Speaker 1: the real question, and whether or not this is super
• 12:19
  Speaker 1: cycle like, meaning AI is just going to continue to
• 12:22
  Speaker 1: just compound on itself because of growth, or does it
• 12:26
  Speaker 1: get a pause because there could be a scenario where
• 12:28
  Speaker 1: it gets a wind under it. And remember, data centers
• 12:30
  Speaker 1: are the biggest hold back. Chips are not necessarily the
• 12:33
  Speaker 1: biggest issue. We can continue to see a certain amount
• 12:36
  Speaker 1: of chip production that could meet and exceed that of
• 12:38
  Speaker 1: the requirements. The problem is electricity and we all know
• 12:41
  Speaker 1: that that's the problem that really these data center is
• 12:44
  Speaker 1: going to face. And these hyperscalers are what is going
• 12:48
  Speaker 1: to really generate. Now that might lay into where SpaceX
• 12:52
  Speaker 1: could have an angle, and I guess you know you
• 12:54
  Speaker 1: have to argue the whole idea of whether or not
• 12:56
  Speaker 1: data centers in space can you know, truly be done.
• 13:00
  Speaker 1: According to Elon, you know there's a lot of opportunity there.
• 13:03
  Speaker 1: Just if you haven't listened to some of his recent podcasts.
• 13:06
  Speaker 1: He goes into talking about, hey, listen, you don't have
• 13:07
  Speaker 1: the batteries you don't have. Yes, the solar panels can
• 13:10
  Speaker 1: be increased or produced at a much lower cost. Yes,
• 13:14
  Speaker 1: you have infinite power which is solar out there, which
• 13:17
  Speaker 1: we don't have. All the weather, I get all the arguments,
• 13:20
  Speaker 1: but I think the key is scaling. Getting to that
• 13:24
  Speaker 1: level of scale in a short period of time. Can
• 13:26
  Speaker 1: he do it in ten years maybe with the assistance
• 13:30
  Speaker 1: of AI if it in itself scales here on earth?
• 13:33
  Speaker 1: So so many things, guys have to happen perfectly for
• 13:38
  Speaker 1: this to come together. Andre Jigue talks about it because
• 13:41
  Speaker 1: he says, hey, why now.
• 13:44
  Speaker 9: This whole debt based AI boom?
• 13:46
  Speaker 4: Right?
• 13:47
  Speaker 9: The trillions of dollars in valuations and the record profits
• 13:50
  Speaker 9: that are in the headlines about tech companies printing money.
• 13:53
  Speaker 9: A big part of this is sort of an illusion.
• 13:56
  Speaker 9: It's a paper illusion that is built on an account
• 14:00
  Speaker 9: trick where money is passed from one company to the next,
• 14:04
  Speaker 9: to the next and back to that same company, which
• 14:07
  Speaker 9: artificially increases how much money it looks like they're making. Now,
• 14:12
  Speaker 9: that strategy works for only as long as the markets
• 14:15
  Speaker 9: stay strong. But remember there's also a geopolitical context to
• 14:19
  Speaker 9: consider and what's happening in the Middle East. Because the
• 14:23
  Speaker 9: longer they wait, the more likely that the financial markets
• 14:27
  Speaker 9: could break by the reality of the supply chains, So
• 14:31
  Speaker 9: they need to move fast. The second these companies go public,
• 14:35
  Speaker 9: the valuations stop being whatever. Just a couple investors decided
• 14:39
  Speaker 9: they were in a private funding round, they become whatever
• 14:42
  Speaker 9: the open market decides their worth, and if those numbers
• 14:47
  Speaker 9: come in lower than what Google and Amazon have been
• 14:50
  Speaker 9: booking as profit, then those profits have to get revised.
• 14:54
  Speaker 9: The earnings that justified the stock prices get revised downward,
• 14:59
  Speaker 9: and then the whole loop goes in reverse.
• 15:01
  Speaker 4: Right.
• 15:02
  Speaker 9: So this theory says that is why the timing of
• 15:05
  Speaker 9: all of this is so important to them, That's why
• 15:08
  Speaker 9: they change the rules.
• 15:11
  Speaker 2: All right.
• 15:11
  Speaker 1: So, and what he's talking about there is changing rules
• 15:13
  Speaker 1: of how this IPO goes to market, and he is
• 15:15
  Speaker 1: exactly right. The timing of this is very critical because
• 15:19
  Speaker 1: that unfortunate issue that is facing AI right now is
• 15:23
  Speaker 1: this constant flywheel of rotation of assets to capital that
• 15:28
  Speaker 1: go into all of these companies that really are in
• 15:30
  Speaker 1: the top twenty. When you think about tech, the question
• 15:34
  Speaker 1: is the advancement that SpaceX brings.
• 15:37
  Speaker 2: Can they sell the.
• 15:39
  Speaker 1: Kind of the idea of putting data centers in space,
• 15:43
  Speaker 1: reducing cost almost down to zero, becoming the big supplier
• 15:47
  Speaker 1: for every major AI company out there?
• 15:49
  Speaker 2: Could they sell that into a.
• 15:51
  Speaker 1: Market that would be the next bubble coming out of
• 15:55
  Speaker 1: the AI market, which is when you get into hyper
• 15:58
  Speaker 1: scaling in space. I think that will be the question
• 16:01
  Speaker 1: that everybody's going to ask because if they are able
• 16:03
  Speaker 1: to do it, just like full self driving, I want
• 16:05
  Speaker 1: you to think about this for a second. He sold
• 16:07
  Speaker 1: full self driving as a theory twelve fourteen, fifteen years ago.
• 16:13
  Speaker 1: Where we are now is real, and the likelihood of
• 16:16
  Speaker 1: it advancing is real because we've seen the use case
• 16:20
  Speaker 1: and now we're seeing the real scenario and the supply chain.
• 16:24
  Speaker 1: That hasn't necessarily slowed tessel down too much. But I
• 16:28
  Speaker 1: think if they can get there faster, then okay, I
• 16:30
  Speaker 1: would agree that this could you substantiate this kind of valuation. However,
• 16:36
  Speaker 1: if there's any pause, if there's any doubt, this is
• 16:39
  Speaker 1: going to get a big correction going forward. All right,
• 16:41
  Speaker 1: So let's take a look at bitcoin, because you've got
• 16:44
  Speaker 1: Michael Saylor here. After a big pullback last week, Strategy
• 16:48
  Speaker 1: has now acquired another fifteen hundred and fifty bitcoin one
• 16:51
  Speaker 1: hundred and one million, to increase their reserve to eight hundred.
• 16:54
  Speaker 2: And forty five thousand bitcoin. That's crazy.
• 16:58
  Speaker 1: We've also increased our USD reserve by one hundred million
• 17:01
  Speaker 1: to one but billion.
• 17:02
  Speaker 2: So there you have it.
• 17:03
  Speaker 1: Guys, do you like Sailor's strategy, and if you do,
• 17:09
  Speaker 1: just put down in the comments bitcoin total whatever you
• 17:12
  Speaker 1: guys are playing out on this, because I think a
• 17:14
  Speaker 1: lot of people are looking at this is still just
• 17:16
  Speaker 1: a delay tactic. Peter Schiff, of course, always goes hard
• 17:20
  Speaker 1: at Michael and as damage control. Sailor just announced Master
• 17:23
  Speaker 1: bought and if Master sold stock at a discount that
• 17:27
  Speaker 1: diluted bitcoin per share, this doesn't prove that Master can
• 17:31
  Speaker 1: sell bitcoin, but that it can't, so his argument continues
• 17:35
  Speaker 1: to go on there. Of course, this is the epic
• 17:38
  Speaker 1: battle between gold and bitcoin, which one is going to
• 17:41
  Speaker 1: win strategy. Shareholders, though, have approved moving forward on the
• 17:44
  Speaker 1: stretched dividends. We've talked about this multiple times. In fact,
• 17:48
  Speaker 1: we had their CEO talking about this on our show.
• 17:50
  Speaker 1: Of the fact that they are going to multiple or
• 17:53
  Speaker 1: semi monthly payments that is now going out and the
• 17:57
  Speaker 1: first payment starts July fifteenth, so just coming up next month.
• 18:00
  Speaker 1: If you look at Stretch right now, that is the
• 18:04
  Speaker 1: pour down that it got. Remember on the last dividend,
• 18:07
  Speaker 1: that was the last dividend paid right there, and we
• 18:09
  Speaker 1: started to see this pull down. It went all the
• 18:11
  Speaker 1: way down to ninety dollars on a wig and then
• 18:15
  Speaker 1: as have now corrected. As of today on the daily
• 18:17
  Speaker 1: we're at ninety six and some change, So Stretch seems
• 18:21
  Speaker 1: to be coming back after a pretty volatile.
• 18:23
  Speaker 2: Week last week.
• 18:25
  Speaker 1: Lynn Alden simply says, hey, imagine if the bears who
• 18:28
  Speaker 1: think the bitcoin is so weak that if you buy
• 18:30
  Speaker 1: four percent of it and talk a lot, you can
• 18:33
  Speaker 1: destroy the whole network. It's not even a person, but
• 18:36
  Speaker 1: a group who bought four percent, like somehow the key
• 18:40
  Speaker 1: weakness of bitcoin is that if someone buys four percent,
• 18:43
  Speaker 1: everything fails. I don't know that if someone buys four percent,
• 18:47
  Speaker 1: I think if things fail, because in this market, things
• 18:51
  Speaker 1: fail because of sentiment, and sentiment can create contagion, and
• 18:57
  Speaker 1: contagion in some cases no matter matter what is either
• 19:02
  Speaker 1: one of two things, it is a great opportunity or
• 19:06
  Speaker 1: it can get so bad that you end up with
• 19:09
  Speaker 1: something that really gets damaged.
• 19:10
  Speaker 2: And I think that's the question.
• 19:11
  Speaker 1: And the last time I think we saw a real
• 19:13
  Speaker 1: contagion was after FDx and what happened to Solona going
• 19:17
  Speaker 1: down to eight dollars. Remember that, think about that and
• 19:21
  Speaker 1: where Solana recovered from. This is a completely different animal.
• 19:25
  Speaker 1: But The point is is that market sentiment demanded how
• 19:28
  Speaker 1: that responded, And that's the thing that I think people
• 19:30
  Speaker 1: have to consider all the time. Speaking of market sentiment,
• 19:34
  Speaker 1: bit Minor says it makes its has made its largest
• 19:36
  Speaker 1: purchase of twenty twenty six, buying another one hundred and
• 19:39
  Speaker 1: twenty six thousand ETH worth twenty four to two hundred
• 19:42
  Speaker 1: and fourteen million. That means holdings are at five point
• 19:46
  Speaker 1: five million ETH, which is worth nine billion. So there
• 19:50
  Speaker 1: you guys, four point five to nine of circulating supply
• 19:53
  Speaker 1: on their way trying to get to that five percent
• 19:55
  Speaker 1: that Tom Lee so valuably wants. One last thing that
• 19:59
  Speaker 1: you have to consider in the market that could cause
• 20:02
  Speaker 1: or throw a ranch into all of this, and that
• 20:05
  Speaker 1: is that SBF now thinks he should get a presidential pardon.
• 20:11
  Speaker 1: Now if this is done, guys, this is a concern
• 20:15
  Speaker 1: to me because I feel like anything right now around
• 20:17
  Speaker 1: Crypto is most likely going to have a problem in
• 20:22
  Speaker 1: getting clarity through. And I want you guys to simply
• 20:25
  Speaker 1: watch this video clip right here, and then I'll tell
• 20:28
  Speaker 1: you more.
• 20:29
  Speaker 2: Take a look.
• 20:30
  Speaker 10: Now, have you had any conversations with the White House
• 20:33
  Speaker 10: or anyone connected to the president at all? If I
• 20:37
  Speaker 10: assume that you would want a pardon from the White House. Now,
• 20:45
  Speaker 10: despite the vagueness in that answer, we did find a
• 20:47
  Speaker 10: pardon application right now. The application is for a pardon
• 20:51
  Speaker 10: after he serves his prison sentence.
• 20:54
  Speaker 2: Begment.
• 20:55
  Speaker 10: Fred is still appealing his conviction, with that decision currently
• 20:58
  Speaker 10: pending in the second circuit. He still maintains that he
• 21:01
  Speaker 10: did not commit fraud.
• 21:05
  Speaker 6: I didn't still use their funds either. And there you know,
• 21:08
  Speaker 6: customers have been repaid now one hundred and seventy percent
• 21:13
  Speaker 6: or so on their deposits. It's one of the very
• 21:17
  Speaker 6: few cases where the platform was obercloralized, where customers.
• 21:23
  Speaker 10: Were more than made whole.
• 21:25
  Speaker 6: And yet there was, you know, not just a criminal investigation,
• 21:28
  Speaker 6: but a prosecution, and you know, dozens of years of
• 21:32
  Speaker 6: the sentence. I can only tell you what I think.
• 21:36
  Speaker 6: And you know, ultimately, customers have been repaid again nearly
• 21:40
  Speaker 6: twice what they had on the platform, and it's a
• 21:44
  Speaker 6: great service to them that it has taken three years.
• 21:47
  Speaker 10: Fts liquators do say that users were repaid in full,
• 21:52
  Speaker 10: but that was based on twenty twenty two prices. Back
• 21:55
  Speaker 10: to President Trump's previous statements that he was not considering
• 21:59
  Speaker 10: a part of and for Bake and Freed.
• 22:01
  Speaker 1: The bigger thing that you have to remember is the
• 22:03
  Speaker 1: opportunity loss that all of those customers had in a
• 22:07
  Speaker 1: market that maybe would have made a huge difference, especially
• 22:10
  Speaker 1: in this most recent run up in what we've seen
• 22:12
  Speaker 1: in crypto all the way back into last year. So
• 22:15
  Speaker 1: opportunity cost, the impact on those people's in you know, finances,
• 22:20
  Speaker 1: et cetera, that it took so long to get that done,
• 22:23
  Speaker 1: those still are damaging to those customers. So you can't
• 22:27
  Speaker 1: just assume that nobody was hurt.
• 22:29
  Speaker 2: People were hurt.
• 22:30
  Speaker 1: And I think the thing that you have to look
• 22:32
  Speaker 1: at is what they said there in that clip, is
• 22:33
  Speaker 1: that Trump.
• 22:34
  Speaker 2: Has said no to this. If he changes his mind, and.
• 22:38
  Speaker 1: He does so for any weird reason, this would be
• 22:42
  Speaker 1: another major hit, I believe on the ethics issue that
• 22:47
  Speaker 1: is going to be surrounding clarity.
• 22:49
  Speaker 2: And I think this is the thing, man, we just
• 22:51
  Speaker 2: got to lay off. You have to lay off these
• 22:53
  Speaker 2: kind of issues.
• 22:54
  Speaker 1: If you're going to do something like that, you know,
• 22:56
  Speaker 1: consider this much after. If you're trying to get legislation
• 23:00
  Speaker 1: across the line, I think you've got to be able
• 23:02
  Speaker 1: to reconsider how a lot of what the optics are
• 23:05
  Speaker 1: in general, So I don't know, what do you guys think,
• 23:08
  Speaker 1: Should he get a part or should he not get
• 23:10
  Speaker 1: a part? And just put yes or no down in
• 23:11
  Speaker 1: the comments down below. We're going to cover this and
• 23:13
  Speaker 1: a lot more because things are going to get hot
• 23:16
  Speaker 1: this week, especially with the SpaceX IPO and probably news
• 23:20
  Speaker 1: coming in on Clarity. If you like this video, h
• 23:29
  Speaker 1: like and subscribe, drop a comment down below, and also
• 23:32
  Speaker 1: join our free private member group.
• 23:34
  Speaker 2: The link is in the description.