Latest / The Paul Barron Crypto Show / Saylor Buys $1.1 Billion More Bitcoin💰Crypto Market Update

Transcript

Saylor Buys $1.1 Billion More Bitcoin💰Crypto Market Update · The Paul Barron Crypto Show

0:07
Speaker 1: Michael Saylor of course goes all in on bitcoin once again.
0:11
Speaker 1: Is this going to be the period in which Michael
0:13
Speaker 1: Sailor could be leading out the bull run. We'll break
0:15
Speaker 1: it down for you guys today. Don't miss it. My
0:17
Speaker 1: name is small Baron. Welcome back in the tech path.
0:19
Speaker 1: I want to thank our sponsor today and that is Tangent.
0:21
Speaker 1: If you're looking at self custdy, this should be the
0:23
Speaker 1: place you're going. Check out tantum dot com and of
0:25
Speaker 1: course all you have to do is jump into their
0:28
Speaker 1: offerings there. They've got a ring. You can also use
0:31
Speaker 1: the cards. The cards are pretty slick and easy. The
0:33
Speaker 1: best thing about this wallet is it is one of
0:35
Speaker 1: the easiest to set up. It's also one of the
0:37
Speaker 1: most secure. So make sure and check out tangum dot com.
0:41
Speaker 1: Use our link down in the description below. If do
0:44
Speaker 1: is hit that little get Tangent button, get the three
0:46
Speaker 1: cards set, or if you want and take a look
0:48
Speaker 1: at the ring, you can go over there and pre
0:50
Speaker 1: order that right now. I think they've begun shipping on
0:53
Speaker 1: this ring, so pretty cool for the use of self custing.
0:57
Speaker 1: If you've not started self custody, do it now. Get
1:00
Speaker 1: some of your tokens off exchanges and start holding through
1:03
Speaker 1: this bull run. All right, let's get into a couple
1:05
Speaker 1: of topics today. Of course, the big one is Michael Sailor.
1:08
Speaker 1: What does he know that everybody else is looking at.
1:11
Speaker 1: If you look at the top holders right now, entities
1:14
Speaker 1: of bitcoin, this is in September of twenty twenty four,
1:17
Speaker 1: coin Base still pretty much holding it all about one
1:19
Speaker 1: hundred and thirty four billion. It's the Toshi Knakamoto right
1:22
Speaker 1: there at the top with Binance. And then guess who
1:24
Speaker 1: leads the pack on the regular companies, and that is
1:28
Speaker 1: black Rocket twenty one billion now surpassing Michael Sailor by
1:33
Speaker 1: a significant amount at fourteen billion, holding gray Scale right
1:36
Speaker 1: behind him, the US government, biffinex okx Krack, and round
1:41
Speaker 1: out the top ten in terms of bitcoin overall. And
1:45
Speaker 1: if you look at just what's happening right here, here's
1:47
Speaker 1: the headline, Michael micro Strategy buys an additional eighteen thousand,
1:52
Speaker 1: three hundred bitcoin. This is another billion bucks that's coming
1:55
Speaker 1: into it. And when you look at this average at
1:57
Speaker 1: around sixty thousand, his entry point at one point one billion.
2:01
Speaker 1: Software Giant now is more recognized as a bitcoin bull
2:04
Speaker 1: than it's primary business venture. And the firm now has
2:07
Speaker 1: increased his total bitcoin back to two hundred and forty
2:09
Speaker 1: four eight hundred and nine point four five billions. So
2:12
Speaker 1: with that being the case, you look at the average
2:16
Speaker 1: overall and they're claiming that he's somewhere around thirty eight
2:20
Speaker 1: thousand per token on bitcoins, so not a bad position.
2:26
Speaker 1: Metalma comes in says, hey, dear sailor, that's a lot
2:29
Speaker 1: of bitcoin, please consider donating some of that to senator
2:32
Speaker 1: to defeat Senator Warrenant and elect Deeton for Senate. And
2:36
Speaker 1: if we've had John on before, and of course metal
2:38
Speaker 1: Lawma in front of the show, Tyler and Cameron are
2:41
Speaker 1: donating some bitcoin over there, so good for them. By
2:45
Speaker 1: the way, if you guys are not subscribed to our
2:47
Speaker 1: Diamond Circle, make sure and get in on that. You
2:49
Speaker 1: guys can just go over to Paul Barron Network. We'll
2:51
Speaker 1: leave a link down below, but these are some of
2:53
Speaker 1: the things that are available to you. We have additional
2:56
Speaker 1: content over there. It's very easy to sign up. It'll
2:59
Speaker 1: take you over to our membership page and when you're there,
3:01
Speaker 1: all you have to do is jump into that Diamond Circle.
3:03
Speaker 1: That's our free package where you guys get additional content.
3:07
Speaker 1: Very easy to do. We'll leave a link down in
3:08
Speaker 1: the description. All right, Looking at the current market, S
3:12
Speaker 1: and P five hundred right now has added about one
3:14
Speaker 1: point eight trillion of market caps, so are heavy in
3:17
Speaker 1: the green right now. In videos up or for fifteen
3:19
Speaker 1: percent this week, and the S and P is now
3:22
Speaker 1: just one percent away from a new to all time
3:24
Speaker 1: high again. And I think a lot of people are
3:28
Speaker 1: looking at what's going to happen next Wednesday, and that
3:30
Speaker 1: of course is going to be a chair pal and
3:32
Speaker 1: his rate cut bonanza. The question is going to be
3:35
Speaker 1: how much there is a surge of positive bitcoin commentary
3:39
Speaker 1: across social media? So I think that's coming over the
3:42
Speaker 1: last couple of weeks. So much of that ratio of
3:44
Speaker 1: positive comment is now more than double that amount of
3:47
Speaker 1: negative comment. So maybe for the first time, are we
3:50
Speaker 1: nearing a time in which we could be entering a
3:54
Speaker 1: bull run? And I think when you look at some
3:56
Speaker 1: of the bitcoin dominance, just to give you a quick
3:59
Speaker 1: look at the chart, look at this trend upwards. If
4:02
Speaker 1: we dip below this little trend line right here, could
4:05
Speaker 1: we be entering all coin season right now? But we
4:08
Speaker 1: are hovering on its local high at about fifty seven
4:11
Speaker 1: point four percent on bitcoin dominance, So significant in the
4:15
Speaker 1: way of our and is this the next step for
4:19
Speaker 1: bull run going forward? And as of right now, bitcoin
4:22
Speaker 1: is still hovering around that fifty nine K mark and
4:25
Speaker 1: coming in up almost three percent on the day right now. Yeah,
4:29
Speaker 1: n ice cream candle right there, painting up on the
4:31
Speaker 1: day or on the weekly. Let's take a look at
4:33
Speaker 1: the daily starting to add up here for the week.
4:36
Speaker 1: So not bad holding on for bitcoin right now. Let
4:41
Speaker 1: me know what are you guys investing in right now?
4:43
Speaker 1: Are you primarily going into bitcoin or are you looking
4:45
Speaker 1: at things like ethereum, Salana avalanche. Where are you guys
4:48
Speaker 1: jumping into? I want to take a look of course
4:51
Speaker 1: right now, and that is the FED rate cut. The
4:53
Speaker 1: odds of that going to a fifty basis point have
4:56
Speaker 1: surge as bitcoin remains stable at around fifty eight K.
5:00
Speaker 1: The fact that we've seen such a move up on
5:02
Speaker 1: the fifty basis to me is surprising because we could
5:06
Speaker 1: be in a very interesting position because I think a
5:09
Speaker 1: lot of people have said, hey, listen, the fifty may
5:11
Speaker 1: be admitting that something is broken, meaning possibly the labor
5:16
Speaker 1: numbers which continually come in not in a position that
5:20
Speaker 1: the FED wants, even though inflation is now starting to decline,
5:24
Speaker 1: which is not surprising. I talk about this all the time.
5:26
Speaker 1: When people don't have jobs, inflation will decline because there's
5:29
Speaker 1: not people spending money. So when people aren't spending money,
5:32
Speaker 1: businesses are not raising prices. Hence you don't get inflation.
5:35
Speaker 1: And I think that's the question mark going forward. Fun fact,
5:38
Speaker 1: next week will be the Fed's first rate cut since
5:41
Speaker 1: this cycle, on September eighteenth, all the way back into
5:44
Speaker 1: its first rate cut in two thousand and seven. If
5:46
Speaker 1: you guys remember two thousand and seven, one of the
5:50
Speaker 1: biggest recessions we've ever had, and eight that took a
5:55
Speaker 1: long cycle to get out of that, So be thinking
5:58
Speaker 1: about this. If in fact something is broken, then we
6:02
Speaker 1: could be in a little bit of a tissy. In
6:04
Speaker 1: terms of the markets overall. Kobec letter comes in. Gold
6:08
Speaker 1: just hit another all time high despite markets pricing out
6:11
Speaker 1: a fifty basis point, markets pricing out geopolitical risk meaning
6:15
Speaker 1: they think everything is okay. Volatility is dropping to a
6:18
Speaker 1: new monthly low, and then you've got inflation data coming
6:22
Speaker 1: in above expectations meaning lower inflation markets pricing out possibility
6:27
Speaker 1: over session soft landing. So what do you have gold moving?
6:32
Speaker 1: So what is happening? Does gold know something that we
6:35
Speaker 1: don't know? And is there a possibility that the Fed
6:40
Speaker 1: maybe has mistimed this again, We'll see if this starts
6:44
Speaker 1: to play out. Now. I've got a clip here that
6:47
Speaker 1: gets into it because it's talking about this whole scenario
6:50
Speaker 1: around a fifty basis points and how Powell would respond
6:54
Speaker 1: to this.
6:54
Speaker 2: Take a look this whole narrative that the kite is
6:57
Speaker 2: flying again on fifty basis points. Our guests have said,
7:01
Speaker 2: tuck it away. What do you think of the general article?
7:04
Speaker 2: What do you think of the risk of fifty basis
7:06
Speaker 2: points the risk of necessity?
7:07
Speaker 3: Yes, well, good morning, Thank you for having me. I
7:09
Speaker 3: don't think we can rule out a fifty basis point cut.
7:12
Speaker 3: I think the important thing that we've emphasized, though, is
7:15
Speaker 3: that the depth and the drivers of this rate cutting
7:18
Speaker 3: cycle really matter for corporate credit sentiment and I think
7:20
Speaker 3: risk assets more broadly. If there is a start to
7:23
Speaker 3: the cycle that begins with a fifty basis point rate cut,
7:26
Speaker 3: I think the messaging needs to be very crisp around
7:29
Speaker 3: where the neutral rate is why we are starting with
7:33
Speaker 3: a non traditional magnitude of cuts because absent that sort
7:37
Speaker 3: of clear messaging that we are doing this to get
7:40
Speaker 3: back to a neutral territory, I think the market could
7:42
Speaker 3: interpret that to mean that they are responding to some
7:45
Speaker 3: sort of growth downside. So I think the messaging around
7:47
Speaker 3: the drivers is really important. And then, more broadly, leaving
7:51
Speaker 3: kind of this year's rate cuts aside, we believe that
7:55
Speaker 3: their scope for the FED to cut to the say
7:57
Speaker 3: call it three and a quarter three and a half
7:59
Speaker 3: percent next year, and then we need to start having
8:02
Speaker 3: more clear conversations around where is neutral, where is the destination.
8:06
Speaker 3: It's not to say that they couldn't cut beyond that level,
8:08
Speaker 3: but I think once we start to get in that
8:10
Speaker 3: zip code, I think it becomes a more finely balanced
8:12
Speaker 3: decision as to are we normalizing or are we actually easing.
8:17
Speaker 1: So Amanda landam there from Blackrock talking about that two
8:20
Speaker 1: points she hits on which I think are important, and
8:23
Speaker 1: that is and it's always been kind of the scenario
8:25
Speaker 1: is that there is a traditional framework of a quarter
8:28
Speaker 1: point coming out of these kinds of pressured financial conditions
8:33
Speaker 1: in markets like what we've faced. If we go to
8:36
Speaker 1: the fifty and he does take us there. I think
8:38
Speaker 1: she's right. The narrative has to be super solid for
8:41
Speaker 1: them to give a reason why. Now there could be
8:44
Speaker 1: some macro data coming in. I think the macro data
8:46
Speaker 1: is most likely jobs related and possibly the growths numbers
8:50
Speaker 1: that will come in on GDP that would slow. If
8:53
Speaker 1: we see all of that, it would mean that we
8:55
Speaker 1: have a retracing economy and that could change the scenario
9:00
Speaker 1: in the S and P five hundred in a big way.
9:02
Speaker 1: So this maybe is the last little hurrah, and maybe
9:05
Speaker 1: that's the reason we're seeing gold on a spike. I
9:08
Speaker 1: think though, that we're going to continue to see crypto
9:11
Speaker 1: moving on, and there's a couple of reasons why. One
9:13
Speaker 1: of them is this right here. This is a fresh
9:16
Speaker 1: analysis from James Delmore. He's talking about where the crypto
9:19
Speaker 1: indsy has given. Industry has given almost one hundred and
9:23
Speaker 1: ninety musument on that one hundred and ninety million in
9:26
Speaker 1: political donations in twenty twenty four. Most likely that's going
9:29
Speaker 1: to go I think, to well over two hundred million
9:31
Speaker 1: before the election is over, and that in itself is
9:36
Speaker 1: going to start to change the dynamics inside of business
9:41
Speaker 1: and politics and power in the corporate infrastructure out there.
9:45
Speaker 1: So you think about that two hundred million right now
9:48
Speaker 1: moving in possibly could see continuation of that into the
9:53
Speaker 1: lobby firms. They could take us into easily a billion
9:56
Speaker 1: dollars over the next few years, maybe even faster going forward.
10:00
Speaker 1: And of course what that means is that we're going
10:02
Speaker 1: to see advances on policy around crypto. The minute we
10:07
Speaker 1: see advances on policy in the United States around crypto,
10:10
Speaker 1: that's when this market is absolutely going to explode beyond
10:14
Speaker 1: anything you can imagine. Hunter k Bitcoin is not even
10:16
Speaker 1: in the cards. It'll be well past that in terms
10:19
Speaker 1: of the future. Here's a clip talking about taxes though,
10:22
Speaker 1: and why it's important. Both candidates are now saying we've
10:25
Speaker 1: got some new tax breaks in store. Take a look.
10:28
Speaker 4: You could call it the great tax Giveaway. In fact,
10:30
Speaker 4: both Harris and Trump adding new tax breaks and credits
10:33
Speaker 4: during the campaigns to target key voters. Trump started with
10:37
Speaker 4: a four trillion dollar tax cut that's now added two
10:40
Speaker 4: hundred billion dollars in corporate tax huts. That's to bring
10:44
Speaker 4: the corpor rate to fifteen percent for those domestic manufacturers.
10:48
Speaker 4: He would eliminate the tax on social Security. That's a
10:51
Speaker 4: one point six trillion dollar gift to older voters. And
10:54
Speaker 4: he wants to exempt tip wages that could cost around
10:57
Speaker 4: two hundred billion dollars over ten years. Harris matching that
11:00
Speaker 4: tip way's hand down and raising Trump with a new
11:03
Speaker 4: six thousand dollars child tax credit that's triple the current credit.
11:08
Speaker 4: She also may use tax credits for that new twenty
11:10
Speaker 4: five thousand dollars home buying assistance. She announced a fifty
11:14
Speaker 4: thousand dollars deduction for business startups, and she wants to
11:17
Speaker 4: extend the twenty seventeen tax cuts for those making less
11:20
Speaker 4: than four hundred thousand dollars a year. In total, Trump
11:23
Speaker 4: proposing tax cuts of about six point five trillion dollars,
11:26
Speaker 4: it doesn't count last night's announcement, his team saying the
11:30
Speaker 4: tariffs will help pay for it. Harris planning about four
11:33
Speaker 4: point two trillion in cuts. She would raise taxes, of course,
11:36
Speaker 4: on high owners and companies. That would be about five
11:39
Speaker 4: trillion dollars of offsets. But nobody can score these things
11:43
Speaker 4: now because every day we get a new tax giveaway.
11:48
Speaker 1: Well, I think the key here is where's it going
11:50
Speaker 1: to come from? Because at some point the Americans are
11:53
Speaker 1: going to ask about this in the sense of just
11:55
Speaker 1: physical fiscal responsibility of how we need to get the
12:00
Speaker 1: we're back in line in terms of spending, and a
12:02
Speaker 1: lot of that I think is going to blow into
12:04
Speaker 1: you know, a couple of different areas and everything could
12:07
Speaker 1: be just on growth and innovation, which gets back to crypto.
12:10
Speaker 1: And all you have to do is start to open
12:12
Speaker 1: up these you know, industries that are trying to grow
12:15
Speaker 1: and let them, you know, let them cook, as they say.
12:18
Speaker 1: And I think if the US becomes a center for
12:22
Speaker 1: crypto and blockchain, you're going to see all sorts of
12:25
Speaker 1: companies centering around Wall Street. Why is that important? Well,
12:30
Speaker 1: you have Jeremy Lair and Circle moving their headquarters over
12:34
Speaker 1: to Wall Street right now going into New York City
12:37
Speaker 1: one World Trade Center. This simply means that they are
12:40
Speaker 1: now in the financial district. And what does that mean
12:42
Speaker 1: for Circle? It means that they have now become the
12:44
Speaker 1: de facto possible digital asset out there in terms of
12:49
Speaker 1: a one to one comparison of the US dollar. And
12:52
Speaker 1: I think this is going to be a factor because
12:54
Speaker 1: many people would look at this and say, well, wait
12:56
Speaker 1: a minute, has USDC just become the CBDC. That's the
13:00
Speaker 1: real question mark. They have talked about this many times.
13:02
Speaker 1: And when you look at the amount of stable coins
13:04
Speaker 1: in use, let me kind of zoom in on that
13:06
Speaker 1: ninety nine percent of one hundred and sixty billion stable
13:09
Speaker 1: coins circulating in the market today are backed by US
13:12
Speaker 1: dollars or treasuries. If you're a central banker outside the US,
13:16
Speaker 1: this should terrify you because your citizens can now easily
13:18
Speaker 1: swap in and out of your local currency and you
13:21
Speaker 1: can't really stop it. This is the problem I think
13:22
Speaker 1: that we will continue to see, but I wouldn't necessarily
13:25
Speaker 1: put it all in on dollar because when you compare
13:28
Speaker 1: us DC and USDT heeather, it's not even a race.
13:35
Speaker 1: So the real question is how big do stable coins
13:38
Speaker 1: truly get and do they become the de facto trading
13:41
Speaker 1: mechanism for currencies out there. You look at this, though,
13:45
Speaker 1: there are some other things happening around centralization, especially when
13:49
Speaker 1: it comes to bitcoin coinbase wrap. Bitcoin now hits one
13:53
Speaker 1: hundred million dollars in market cap in one day, all right.
13:57
Speaker 1: If you look at the numbers, they exceeded a hundred
13:59
Speaker 1: million architep after its first day likelihood of this is
14:03
Speaker 1: going to be pretty accelerated, I think in terms of
14:05
Speaker 1: leveraging bitcoin. So fungibility of CBDC, c b BTC on
14:10
Speaker 1: point base will enable retail and institutional holdings of bitcoin
14:14
Speaker 1: to seamlessly integrate with its on chain ecosystem. And we're
14:17
Speaker 1: going to probably start to see it quite a bit
14:19
Speaker 1: of you know, we'll call it the degenerate you know
14:23
Speaker 1: out there that are going to start playing against this.
14:25
Speaker 1: For sure, this could explode total assets on base pretty rapidly.
14:29
Speaker 1: This was of course, justin Sun weighing in on this,
14:32
Speaker 1: expressing some skepticism about the token's lack of proof of
14:36
Speaker 1: reserve audits. That's a big issue that has been out
14:39
Speaker 1: there for some time. He also goes on to state
14:41
Speaker 1: that a single government subpoena could freeze on chain bitcoin instantly,
14:46
Speaker 1: making decentralization a joke. That is true, but that could
14:50
Speaker 1: happen on any centralized exchange today in the United States.
14:54
Speaker 1: Outside the US, different story on DeFi different story inside
14:58
Speaker 1: your cold storage are and or walle It's different story.
15:03
Speaker 1: So I think the narrative is still very solid for
15:06
Speaker 1: crypto as a whole, but you're going to start seeing
15:09
Speaker 1: more and more people, especially people that are coming to
15:12
Speaker 1: crypto for the first time, because they don't necessarily understand
15:14
Speaker 1: the true narrative of what crypto is. And I think
15:18
Speaker 1: that's the big miss right here, because you're going to
15:20
Speaker 1: continue to see people putting tokens in these exchanges. Last up,
15:26
Speaker 1: I just want to hit on one other thing, just
15:27
Speaker 1: to show you the size and capacity of what some
15:30
Speaker 1: of these markets are doing. This is only Fans, not
15:33
Speaker 1: that only Fans is part of crypto, but I just
15:35
Speaker 1: want to show a comparison. OnlyFans revealed a record breaking
15:38
Speaker 1: revenue six point six billion dollars last year. Now, put
15:42
Speaker 1: this in a little bit of framework, compare that to
15:46
Speaker 1: the NBA combined payroll of four point nine billion, and
15:51
Speaker 1: only Fans a company six point six billion coming in
15:55
Speaker 1: around content creators and of course the company itself. So
15:57
Speaker 1: it's a little bit misleading there, but the point that
15:59
Speaker 1: they are are at that level is pretty significant. Guess what,
16:04
Speaker 1: There is one token out there that has a similar scenario,
16:08
Speaker 1: and that is only one. This is a token we've
16:10
Speaker 1: reported on before, and of course this is just in
16:12
Speaker 1: the one day. There's the spike right there. Of course,
16:15
Speaker 1: on everybody going wait a minute, OnlyFans is doing six
16:18
Speaker 1: point six billion, well the crypto equivalent right there on
16:22
Speaker 1: only one check it out if you guys. It's called
16:24
Speaker 1: like last up. I'll take a look a couple of
16:27
Speaker 1: tokens right here and one I do want to take
16:30
Speaker 1: a look at it, of course Bitcoin. Right here, you
16:32
Speaker 1: can kind of see the daily starting to edge up.
16:34
Speaker 1: We may crack back over that sixty k mark, which
16:37
Speaker 1: is a real critical point right now, and maybe all
16:40
Speaker 1: the way back up to sixty three or sixty four again.
16:43
Speaker 1: That gets into a couple of points even though we
16:46
Speaker 1: are seeing a little bit of down trend on sentiment.
16:49
Speaker 1: We take a look at eth holding in back at
16:51
Speaker 1: around twenty four hundred after a dipping pretty significantly, all
16:56
Speaker 1: the way back to really its price in January of
17:01
Speaker 1: twenty twenty four. That's on the weekly if you go
17:03
Speaker 1: to the daily. Eath also been somewhat sideways for quite
17:07
Speaker 1: a while for sure. Solana getting ready to move quite
17:11
Speaker 1: a bit here on the daily. I'll cracking one thirty seven.
17:14
Speaker 1: We may see this pullback slightly, money flows coming out
17:17
Speaker 1: a little bit avalanche going to twenty four. I think
17:20
Speaker 1: this one is maybe in a position where we could
17:23
Speaker 1: see some movement on this one, mainly just because of
17:25
Speaker 1: the narratives that are going to be painted within the
17:28
Speaker 1: next two months. Within these ecosystems. You've got Breakpoint happening
17:33
Speaker 1: during Token twenty forty nine, that's actually happening now or
17:36
Speaker 1: this weekend, and then you have Avalanche coming up here
17:39
Speaker 1: in the next thirty forty five days. We'll see a
17:41
Speaker 1: lot I think that we'll release at their summit in Argentina,
17:46
Speaker 1: so be on the lookout for that, all right. As
17:48
Speaker 1: I said, get into the Diamond Circle. It's a great
17:49
Speaker 1: place to get additional content. Follow me out there on
17:52
Speaker 1: X at Paul Baron. We'll catch you next time right
17:54
Speaker 1: here on tech Path