Latest / CRYPTO 101 / Crypto Rundown pt 2: Ethereum Takes Center Stage with ETH Treasuries & Why Bitcoin is in a Range

Transcript

Crypto Rundown pt 2: Ethereum Takes Center Stage with ETH Treasuries & Why Bitcoin is in a Range · CRYPTO 101

0:08
[SPEAKER_00]: Alright everybody, welcome back to the crypto rundown.
0:11
[SPEAKER_00]: And this is part two.
0:12
[SPEAKER_00]: That's right, you saw it in the title.
0:14
[SPEAKER_00]: And if you've listened to the first one, you understood that we chopped this into two parts.
0:17
[SPEAKER_00]: So if you haven't listened to part one, make sure you do.
0:20
[SPEAKER_00]: It was a lot of awesome stuff around the Bitcoin price action this week.
0:23
[SPEAKER_00]: Technical analysis with Brendan.
0:25
[SPEAKER_00]: We also did a full rundown on the Robinhood news and the tokenization of stocks.
0:31
[SPEAKER_00]: which we think is extremely bullish for Ethereum and is going to roll us right into this part two that is going to start after the swipes down.
0:38
[SPEAKER_00]: We're going to pick it up here where we talk about Tom Lee starting his Ethereum strategy company that's going to basically be the micro strategy of Ethereum.
0:48
[SPEAKER_00]: And we have a ton more bullish news around Bitcoin.
0:51
[SPEAKER_00]: We check out the fear greed index.
0:53
[SPEAKER_00]: We go over some of the recent ETF filings that are going to go live.
0:57
[SPEAKER_00]: Again, it's basically under the table bullish news that we're just pulling out and bringing to you each week.
1:04
[SPEAKER_00]: I hope you're all enjoying your fourth July weekend and without further ado, here's part two of the rundown.
1:10
[SPEAKER_01]: Well, I mean, let's talk about that.
1:11
[SPEAKER_01]: If Altcoin Summers, the new Hot Boy Summer, Tom Lee is coming in as a... I think the lead will come on the leader of Hot Boy Summer.
1:19
[SPEAKER_01]: And he is coming out with the micro strategy of Ethereum, and had to catch myself there, too.
1:24
[SPEAKER_01]: I don't know if he caught it.
1:25
[SPEAKER_01]: But Tom Lee is coming out as the newest addition to the Treasury game.
1:32
[SPEAKER_01]: And we talked about this in the recent weeks, and we said,
1:35
[SPEAKER_01]: Everyone gets a treasury.
1:36
[SPEAKER_01]: It's like the Oprah show where like you get a treasury and you get a treasury and like this just continues to happen.
1:42
[SPEAKER_01]: Oprah is still pointing the fingers still giving more people to treasury.
1:45
[SPEAKER_01]: Tom Lee is a household name.
1:48
[SPEAKER_01]: He is genuinely one of the the names that I think I respect the most out there.
1:53
[SPEAKER_01]: If we could create like a perfect panel of guests, I think it would be like Tom Lee, Michael Sailer, Matt Hogan, James Seifar,
2:05
[SPEAKER_01]: And I'm probably missing someone.
2:08
[SPEAKER_01]: But if we could have like that, like that would be like a master panel.
2:14
[SPEAKER_01]: And he's coming out here and he's saying, I'm betting big on Ethereum here.
2:18
[SPEAKER_01]: We're creating the Ethereum treasury.
2:22
[SPEAKER_01]: And this is going to essentially be an echo of what Michael Sailor has been doing.
2:26
[SPEAKER_01]: It's strategy with the Bitcoin treasury approach.
2:30
[SPEAKER_01]: And so he's talking about this.
2:31
[SPEAKER_01]: He explains it.
2:32
[SPEAKER_01]: We'll go ahead and roll the clip.
2:37
[SPEAKER_03]: And this is some big news, and it's kind of complicated, but probably suffice to say that you all are doing basically what microstrategy did with ether.
2:48
[SPEAKER_03]: You're going to make ether the purchases that you buy through this.
2:51
[SPEAKER_03]: You're going to set this whole thing up like this.
2:52
[SPEAKER_03]: You want to explain a little bit.
2:54
[SPEAKER_04]: Yeah, glad to.
2:55
[SPEAKER_04]: You know, I'm still a big fan of Bitcoin because I think it is, you know, digital gold.
3:00
[SPEAKER_04]: But what we've seen in the last, uh, really in twenty twenty five is the financial services industry and crypto are converging.
3:09
[SPEAKER_04]: And it really started with stable coins, which is the chat kbt of crypto, right?
3:14
[SPEAKER_04]: Because it's viral adoption by consumers, businesses banks, and now even visa.
3:19
[SPEAKER_04]: Underneath the stablecoin industry is ethereum.
3:23
[SPEAKER_04]: That is really like the backbone and architecture of stablecoin.
3:26
[SPEAKER_04]: So it's important to create a project that essentially accumulates ethereum to essentially protect and have some influence on the network.
3:36
[SPEAKER_04]: So that's why we're creating this treasury vehicle to buy ethereum.
3:41
[SPEAKER_04]: The more ethereum that's accumulated, the more secure the network is.
3:45
[SPEAKER_04]: And I think it's also
3:47
[SPEAKER_04]: sort of the architecture that future banks will have.
3:49
[SPEAKER_04]: You know, when Goldman issues a stable coin and JP Morgan doing an Ethereum as a layer one blockchain, they're going to want to secure it by staking Ethereum.
3:58
[SPEAKER_04]: So we're trying to get in front of that by creating a treasury.
4:04
[SPEAKER_00]: Two two things on that number one great explanation for kind of that base level of why he's doing it and and also that is the point of Robinhood.
4:13
[SPEAKER_00]: So I don't know if we mentioned it.
4:14
[SPEAKER_00]: We got kind of caught up in in our own personal call, which is which is fair for an eight hundred percent call, but Robinhood is is tokenizing through arbitrum, which is obviously via Ethereum.
4:25
[SPEAKER_00]: So I think that Tom Lee to build on your point is somebody that we all enjoy in the crypto space and enjoy listening to because you can go back and pull clips of him on CNBC telling people they should do one percent exposure to Bitcoin when it was in that, you know, two thousand to five thousand dollar range and everybody called him crazy.
4:42
[SPEAKER_00]: You know, a unique call here.
4:43
[SPEAKER_00]: I think the Bitcoin Maxi community was really upset at this because they know Tom is a longtime Bitcoin bull.
4:50
[SPEAKER_00]: And then obviously with this Ethereum, it's a different take.
4:52
[SPEAKER_00]: So he's definitely getting mixed reviews from crypto Twitter.
4:56
[SPEAKER_00]: But I think Tom somebody that doesn't make his decisions from the comments on Twitter, right?
5:01
[SPEAKER_00]: That's a data-driven guy.
5:02
[SPEAKER_00]: That's how he's made his name.
5:04
[SPEAKER_00]: So a fascinating take.
5:06
[SPEAKER_00]: Again, I wouldn't bet against Tom.
5:09
[SPEAKER_00]: You got to make, you know, never financial advice Tom would tell you the same things.
5:12
[SPEAKER_00]: You got to make your own decisions.
5:13
[SPEAKER_00]: But I think it's an interesting point to announce this right after we've basically gone what six months plus of Ethereum lagging and really really underperforming, especially into liberation day in that final dip below two K was terrifying.
5:27
[SPEAKER_00]: You know, Ethereum kind of, that's going to be the title of this episode is Ethereum takes center stage.
5:32
[SPEAKER_01]: I mean, Ethereum has been underperforming Bitcoin to you, though since summer of twenty twenty two.
5:37
[SPEAKER_01]: So we're now pushing three years later.
5:39
[SPEAKER_01]: And Ethereum has been underperforming Bitcoin for three years and now we're seeing people come in.
5:44
[SPEAKER_01]: You know, we've kind of been saying this as well.
5:46
[SPEAKER_01]: I think Ethereum is at its turnaround point.
5:49
[SPEAKER_01]: I really, really do.
5:50
[SPEAKER_01]: He made the point of when you look at all the infrastructure that is happening, all of the changes that are happening and all the adoption that's happening.
5:58
[SPEAKER_01]: It is primarily behind a theory, and now Salana is seeing a lot of success, just in different sectors.
6:03
[SPEAKER_01]: But when you look at the stable coin legislation, that is primarily impacting a theorem.
6:08
[SPEAKER_01]: It is under, like, completely underlined by a theorem.
6:11
[SPEAKER_01]: When you look at tokenization, almost entirely backed by a theorem here, you know, Robin Hoods are a great example of that.
6:18
[SPEAKER_01]: And when you look at define what's happening on that side, again, mostly on a theorem.
6:23
[SPEAKER_01]: So stable coins define tokenization,
6:25
[SPEAKER_01]: All looking to scale, all looking to be more integrated and grow.
6:29
[SPEAKER_01]: And as that happens, he's saying, I think that there's a bet on Ethereum here.
6:33
[SPEAKER_01]: And it's under value relative to Bitcoin and probably the rest of the market.
6:37
[SPEAKER_01]: And I think it's a pretty sound argument.
6:39
[SPEAKER_01]: Now, again, like anything, it's going to have ups and downs.
6:41
[SPEAKER_01]: But I would agree with him here.
6:43
[SPEAKER_01]: I think that the overall picture is up into the right.
6:47
[SPEAKER_01]: Like I can't see this not doing well, right?
6:50
[SPEAKER_01]: There's a lot of these these different things to pay attention to.
6:53
[SPEAKER_01]: And you know, they're coming out and they're starting off with two hundred and fifty million dollars to fund this first treasury.
7:00
[SPEAKER_01]: And this is right after sharp link also came out.
7:03
[SPEAKER_01]: They started the treasury and they even added to this this week.
7:08
[SPEAKER_01]: So they acquired
7:10
[SPEAKER_01]: Another, nine thousand six hundred and ninety ethereum, which is around twenty four million dollars worth, to increase their total ethereum holdings to one hundred and ninety eight thousand one hundred and sixty seven ethereum.
7:25
[SPEAKER_01]: It's a big amount.
7:27
[SPEAKER_01]: And
7:28
[SPEAKER_01]: I only see this growing.
7:30
[SPEAKER_01]: Again, I see this being like microstrategy, where they're going to continue to acquire more as it dips, as it has its ups and downs, which it will have.
7:38
[SPEAKER_01]: They will accumulate more because they believe in the long term.
7:41
[SPEAKER_01]: And we've seen what that's been able to do to Bitcoin, right?
7:44
[SPEAKER_01]: I also think it can have a similar effect going forward for Ethereum, and Ethereum has a little bit of a ketchup game to play.
7:50
[SPEAKER_01]: Bitcoin is right below all-time highs.
7:52
[SPEAKER_01]: Ethereum is still quite far from it.
7:54
[SPEAKER_01]: I think it's all-time highs just below five thousand dollars.
7:58
[SPEAKER_01]: And at the moment here, Ethereum sitting in around twenty four hundred.
8:01
[SPEAKER_01]: So it would need to about double in price, roughly speaking, to get back to that all-time high, whereas Bitcoin is basically sitting there.
8:10
[SPEAKER_01]: But I see both assets doing well.
8:11
[SPEAKER_01]: I see both doing well.
8:14
[SPEAKER_00]: Yeah, I couldn't agree more.
8:16
[SPEAKER_00]: I think it's important to, you know, give our honest opinions.
8:20
[SPEAKER_00]: And I was kind of playing that Ethereum trade.
8:24
[SPEAKER_00]: I did that in like, two thousand, seventeen, eighteen, two.
8:27
[SPEAKER_00]: I I rode kind of Ethereum pretty heavy, which which worked out.
8:31
[SPEAKER_00]: But then.
8:33
[SPEAKER_00]: I was really disappointed in the price action of Ethereum and I know we all were and we were kind of scratching scratching our heads wondering why like there's so much momentum in the ETFs went live and you're kind of playing the playbook of the Bitcoin ETFs and it didn't it didn't work out like everybody thought but that's why I kind of love the announcement from Tom is like it's kind of a counter trade right and so I think at one point
8:56
[SPEAKER_00]: I think at one point our team group chat, I think I threw in there, I was like, hey, we still riding Ethereum, like when we went under two guys, like, man, this is a huge pain point for me, because I was, you know, I really, really believe in the technology and the platform and again, Tom kind of broke it down in a very, you know, layered way of what he's looking for in the future of it.
9:17
[SPEAKER_00]: But I think you got to love the use and you, especially with Robin Hood and now Tom doing the treasury.
9:22
[SPEAKER_00]: and kind of pitching that stable coin narrative.
9:27
[SPEAKER_00]: Something to watch, again, that's what we do here.
9:29
[SPEAKER_00]: There's these narratives that build, I think, again, be the dead horse here, not to be dead horse.
9:35
[SPEAKER_00]: It's like the Robinhood narrative we gave in twenty twenty four, February twenty twenty four years later.
9:42
[SPEAKER_00]: Obviously, that's, it's probably quicker timeline than most to get, you know, an eight, eight hundred percent sometimes for stocks.
9:48
[SPEAKER_00]: But, you know, you got to build your narrative and you got to be there before the masses come in.
9:52
[SPEAKER_00]: And not all your investments or bets are going to work out.
9:55
[SPEAKER_00]: So that's why you got to do your own research and deep dive in and learn from us here and do your own research as well.
10:01
[SPEAKER_00]: But these narratives are building and kind of to the point of why there's so much news is it's not under the table anymore.
10:08
[SPEAKER_00]: It's out in the open.
10:10
[SPEAKER_00]: And so I'm super excited about Ethereum.
10:12
[SPEAKER_00]: Hopefully to keep the momentum going into the end of the year.
10:15
[SPEAKER_01]: Yeah, I mean, certainly, man.
10:17
[SPEAKER_01]: And you know, there, I think that the momentum will continue.
10:21
[SPEAKER_01]: If you look at what Doisha Bank is doing, a huge player, they are saying, we're going to plan for cryptocurrency starting in twenty twenty six.
10:30
[SPEAKER_01]: And this just goes to show.
10:31
[SPEAKER_01]: We talked about this like a year ago.
10:33
[SPEAKER_01]: And we said the names that aren't in are going to regret it and they're going to eventually cave and they're going to have to offer crypto custody.
10:40
[SPEAKER_01]: There's going to be too many people asking for it.
10:41
[SPEAKER_01]: Everyone else is going to be doing it.
10:43
[SPEAKER_01]: And
10:44
[SPEAKER_01]: They're going to be leaving a lot of money on the table or seeing people just overall leave to a place where they can't get this stuff.
10:50
[SPEAKER_01]: And it's going to be a frustration and a pain point.
10:53
[SPEAKER_01]: And that's exactly what we've seen so far.
10:55
[SPEAKER_01]: So Deutsche Bank, it's the next one on the list.
10:59
[SPEAKER_01]: They're going to be offering crypto custody coming next year.
11:02
[SPEAKER_01]: And in the meantime, the Bitcoin ETFs feel unstoppable.
11:09
[SPEAKER_01]: The level of inflows that they have seen is crazy.
11:11
[SPEAKER_01]: And just when you think it can't stop it or it has to stop it just continues and continues and continues.
11:17
[SPEAKER_01]: And where we're right now is that they have seen a fifteen day inflows streak.
11:22
[SPEAKER_01]: And this accounts for almost five billion dollars of inflows.
11:27
[SPEAKER_01]: And this is all happening.
11:28
[SPEAKER_01]: Not while we're low, not while we're going like completely parabolic and stuff.
11:32
[SPEAKER_01]: It's happening.
11:34
[SPEAKER_01]: Like rape a low all time hides.
11:35
[SPEAKER_01]: Like pressure is building.
11:36
[SPEAKER_01]: People are so comfortable buying up here.
11:39
[SPEAKER_01]: And that's what this tells me, Tvo.
11:41
[SPEAKER_01]: If we're seeing fifteen days of inflows, five billion dollars nearly coming into the market.
11:47
[SPEAKER_01]: People are comfortable buying right below all time highs.
11:50
[SPEAKER_01]: They're not worried.
11:51
[SPEAKER_01]: That means that if all these investors are doing this, they are betting that Bitcoin will go to a new all time high.
11:58
[SPEAKER_01]: Otherwise, they wouldn't be investing in so comfortable buying right below all time highs.
12:02
[SPEAKER_01]: That's what this means.
12:04
[SPEAKER_01]: So if you scroll down a little bit on the chart, just a tad, there's gonna be a chart in here where you can actually see, yeah, this.
12:12
[SPEAKER_01]: And if you click on the one month little tab there,
12:15
[SPEAKER_01]: it can zoom in and this shows you what that inflow date looks like, what the inflow streak looks like.
12:22
[SPEAKER_01]: Now, it's not completely up to date.
12:23
[SPEAKER_01]: This lags behind as they collect the data, but you can see that the overall amount of inflows here have been overshadowing the outflows for almost the entirety of the last month.
12:35
[SPEAKER_01]: You can see at the very beginning of June, there were a few like little days here, but when you put it all together, especially the last fifteen, twenty trading days of information,
12:45
[SPEAKER_01]: I mean, it is a night and day difference.
12:48
[SPEAKER_01]: I mean, on some of these days, it looks like there's no outflows.
12:51
[SPEAKER_01]: There's no one selling.
12:52
[SPEAKER_01]: There's no one selling at all time highs and everyone's buying.
12:55
[SPEAKER_00]: So how about that?
12:57
[SPEAKER_00]: Interesting day here.
13:00
[SPEAKER_00]: Yeah.
13:00
[SPEAKER_00]: Seventeen.
13:01
[SPEAKER_00]: I bet is teaching their clients.
13:05
[SPEAKER_00]: That's black rock.
13:06
[SPEAKER_00]: Obviously, it's teaching their clients.
13:09
[SPEAKER_00]: You know, six, seventeen were buying while everybody else is selling.
13:12
[SPEAKER_00]: So I wonder if that was a dip day, but I think that's interesting to see.
13:16
[SPEAKER_00]: Uh, some heavy outflows.
13:18
[SPEAKER_00]: And well, uh, well, I bit is is rocking higher.
13:21
[SPEAKER_00]: That's a huge buy day.
13:22
[SPEAKER_01]: Yeah, I mean, there are just gobbling up market share.
13:27
[SPEAKER_01]: I was reading a, I was reading a report right before this.
13:33
[SPEAKER_01]: And what it was saying was that the Bitcoin ETFs now hold seven percent of all of Bitcoin supply.
13:40
[SPEAKER_01]: So one point four million Bitcoin worth a hundred and fifty billion dollars.
13:45
[SPEAKER_00]: Wow.
13:46
[SPEAKER_01]: How's that number?
13:47
[SPEAKER_00]: Yeah, that's wild.
13:48
[SPEAKER_00]: Sorry that this thing is, I don't know how to click out of this.
13:50
[SPEAKER_00]: There we go.
13:50
[SPEAKER_00]: Yeah, but that's the Tom Lee's point about Ethereum, right?
13:54
[SPEAKER_00]: With a proof of stake is that you want to gobble up a percentage of the network for obviously stake in rewards, but to kind of secure the network as well.
14:03
[SPEAKER_00]: So I think that's kind of the point is, you know, you see, I bet doing it micro strategy doing it for Bitcoin.
14:11
[SPEAKER_00]: And so it'll be interesting to see if
14:13
[SPEAKER_00]: that takes on obviously Tom Lee leading the way there.
14:16
[SPEAKER_00]: Some other companies also doing it as discussed.
14:18
[SPEAKER_00]: But if that picks up momentum, especially around the stable coin market, I heard Tom compared the stable coin market to finance is like AI to technology.
14:31
[SPEAKER_00]: It's the future.
14:32
[SPEAKER_00]: Everybody's diving in and you can see that with obviously the IPO of Circle.
14:36
[SPEAKER_00]: So
14:38
[SPEAKER_00]: You know, the AI trade in stocks has gone crazy, quantum computing had its moment at the end of the year as well for just, you know, I think there's a stock out there called quantum computing and it was, you know, up, you know, a thousand percent in a couple weeks without people knowing exactly what they even do.
14:55
[SPEAKER_00]: So it will be interesting to see if there is that run.
15:00
[SPEAKER_00]: from the finance investing side with Ethereum or obviously we saw it a little bit with circle.
15:05
[SPEAKER_00]: But again, seeing the narrative, what has this show been bringing to you every week for the past month?
15:10
[SPEAKER_00]: All these credit card services, you know, the master cards of the world and all these banks starting their own stable coin initiative and partnering with these credit cards.
15:19
[SPEAKER_00]: So it's like the narratives there and will it will keep growing.
15:23
[SPEAKER_00]: So again, just, I mean, dude unbelievably bullish news, it's wild.
15:30
[SPEAKER_01]: But wait, there's more.
15:31
[SPEAKER_01]: Just in, you know, Germany's largest bank, Germany's largest banking group.
15:35
[SPEAKER_01]: I'm going to butcher this, but I think it's sparkison is set to launch crypto trading services starting next year as well.
15:43
[SPEAKER_01]: So, you know, we like bringing up stuff like this.
15:46
[SPEAKER_01]: It shows globally.
15:48
[SPEAKER_01]: There is adoption.
15:49
[SPEAKER_01]: It's not just in the US.
15:50
[SPEAKER_01]: It's not just here and there globally.
15:53
[SPEAKER_01]: Everyone is getting in on this.
15:55
[SPEAKER_01]: They know that they have two roles.
15:57
[SPEAKER_01]: They're going to be left behind.
15:58
[SPEAKER_01]: Deutsche Bank realizes this.
16:01
[SPEAKER_01]: Schwab realizes this.
16:02
[SPEAKER_01]: Sparkison realizes this.
16:06
[SPEAKER_01]: Everyone realizes this.
16:07
[SPEAKER_01]: And the more that adoption happens,
16:10
[SPEAKER_01]: We see these different players out there are recommending more and more crypto exposure and it's funny because we talked to Matt Hogan from Bitwise and we just talked to Franklin Temple tennis well here in recent weeks.
16:25
[SPEAKER_01]: And what we've been seeing is that people have gone from no crypto exposure to maybe like half a percent.
16:32
[SPEAKER_01]: to one percent to two percent to three percent to five percent and recently we saw that there was the largest independent registered investor advisor saying if people want more of a risk on approach then they can do up to forty percent exposure to crypto and so we have a clip for this and we'll go ahead and roll that
16:56
[SPEAKER_02]: Today, I'm saying, forty percent.
16:59
[SPEAKER_02]: That's astonishing.
17:00
[SPEAKER_02]: Nobody anywhere has said such a thing as what I'm saying now.
17:03
[SPEAKER_02]: Why the shift?
17:04
[SPEAKER_02]: It's because of the massive change in the evolution of crypto that we've enjoyed in the past four years.
17:10
[SPEAKER_02]: Four years ago, we didn't know if governments were going to ban Bitcoin.
17:14
[SPEAKER_02]: We didn't know if the technology would become obsolete.
17:16
[SPEAKER_02]: We didn't know if consumers might not want to adopt it.
17:19
[SPEAKER_02]: We didn't know if there'd be any institutional engagement.
17:21
[SPEAKER_02]: today, all those questions have resolved.
17:24
[SPEAKER_02]: In the Trump administration, in the new Congress, there is massive support for crypto.
17:29
[SPEAKER_02]: Every member of the president's cabinet personally owns Bitcoin.
17:32
[SPEAKER_02]: Every major economic appointee of the president, the Secretary of Treasury, Commerce, Department of Labor, the heads of the SEC, CFTC, OCC, FDIC,
17:42
[SPEAKER_02]: all of them huge supporters of crypto.
17:44
[SPEAKER_02]: There's no longer a question as to whether the government likes this or not and is going to support the development.
17:48
[SPEAKER_02]: We also now see institutional investors engaging in ways never seen before.
17:53
[SPEAKER_02]: Banks are now permitted for the very first time, along with brokerage firms, to trade and custody crypto, which they could never do before.
18:00
[SPEAKER_02]: Stable coins are now a golden calls that the killer app of crypto.
18:05
[SPEAKER_02]: We now have
18:07
[SPEAKER_02]: a huge array going in and in fact the first legislation at a congress is crypto legislation the genius act so it is radically changed it is now a mainstream asset and we look at the adoption rate it's still incredibly low it's only about five percent of the global population that own crypto at the stage as more and more get involved learn about it
18:27
[SPEAKER_02]: discover it and invest in it.
18:29
[SPEAKER_02]: We're going to see massive asset inflows and because then certainly in the case of Bitcoin, it's a fixed supply asset.
18:35
[SPEAKER_02]: The more people who buy it, the higher the price is going to rise.
18:40
[SPEAKER_00]: Sounds like us spread it on the podcast each week.
18:43
[SPEAKER_01]: It does.
18:43
[SPEAKER_01]: I mean, he's got it right.
18:44
[SPEAKER_01]: He knows what he's talking about.
18:47
[SPEAKER_01]: And he makes a good point.
18:48
[SPEAKER_01]: So yeah, you know, I think that
18:51
[SPEAKER_01]: more crypto exposure will become normal.
18:54
[SPEAKER_01]: I think forty percent for someone who wants high growth a lot of risk.
18:58
[SPEAKER_01]: Like it makes sense.
18:59
[SPEAKER_01]: Like I really want like spoiler alert.
19:01
[SPEAKER_01]: I have more than forty percent.
19:03
[SPEAKER_00]: That's spoiler.
19:04
[SPEAKER_00]: Me too.
19:05
[SPEAKER_00]: And I think it goes to the fact that there's ways to get crypto exposure over the show.
19:08
[SPEAKER_00]: The last month we've talked about the circle IPO, right?
19:11
[SPEAKER_00]: So yeah, that's a stock, but maybe this is an argument that we could have or debate healthy debate.
19:17
[SPEAKER_00]: but it's like, is that crypto exposure?
19:18
[SPEAKER_00]: If you're buying circle, it's a stock.
19:20
[SPEAKER_00]: It's traded on the stock exchange, but is it crypto exposure?
19:24
[SPEAKER_00]: Same thing with Robin Hood or Coin Bay.
19:25
[SPEAKER_00]: I mean, I think everybody would agree Coin Bay stock is crypto exposure, no?
19:29
[SPEAKER_00]: So it's like, there's these darlings of the crypto world that have entered the stock market that, you know, we have exposure to at times, not speaking broadly for the team here.
19:39
[SPEAKER_00]: And when it comes to these individual stocks, but obviously we talked about Robin Hood.
19:43
[SPEAKER_00]: We talked about circle.
19:44
[SPEAKER_00]: So it's like,
19:44
[SPEAKER_00]: getting exposure to that plus our all-point exposure plus our Bitcoin exposure it's like dude yeah and and the funny thing is as these prices rocket it takes up a bigger percentage of your portfolio yeah talked about the micro strategy story me and you before right as like oh yeah put a little shackle into micro strategy like I'll do that and then boom all the sudden it's fifteen percent of my stockboard folio my god I got trim this you know that that's kind of how it goes especially for the early adopters in the crypto space yeah
20:12
[SPEAKER_01]: No, I mean, it is man.
20:14
[SPEAKER_01]: And, you know, great sign that this is here to stay and that there's a lot more to come is, you know, we mentioned that the very beginning, the SEC.
20:22
[SPEAKER_01]: I think it's yesterday, approved gray skills, index or basket ETF.
20:26
[SPEAKER_01]: And this includes Bitcoin, Ethereum, Solana, XRP, and Cardano.
20:31
[SPEAKER_01]: And at the very beginning, I was like, oh, well, this probably means that if we don't have ETFs for Solana, XRP and Cardano, we'll probably have to get them.
20:40
[SPEAKER_01]: And we're already seeing the Solana ETF get approved here today, but we'll probably see a lot more of those.
20:47
[SPEAKER_01]: I did see that out of the ETF applicants, and let me pull this up on my intro fast.
20:54
[SPEAKER_01]: There was a lot more.
20:55
[SPEAKER_01]: I think there was seven or eight of them in total.
20:57
[SPEAKER_01]: So yeah, gray scale, Vanneck, twenty one shares, canary bitwise, Franklin fidelity, coin shares, and in Vesco, all have pending Solana spot ETFs.
21:08
[SPEAKER_01]: And I would imagine that we start seeing those.
21:13
[SPEAKER_01]: very, very soon.
21:14
[SPEAKER_01]: In fact, I don't even see Rex on the list from what the Bloomberg Intelligence guys were talking about, which is interesting.
21:21
[SPEAKER_01]: But yeah, I mean, Rex wasn't even on that list, but yet here they are, the first spot, Solana, staking ETF is officially alive.
21:29
[SPEAKER_01]: So something to say on.
21:30
[SPEAKER_00]: live on airman.
21:31
[SPEAKER_00]: This is why this is why you got it tuned in the live the live stuff is crazy.
21:35
[SPEAKER_01]: It is and we're just scratching the surface of this stuff.
21:39
[SPEAKER_01]: It's an exciting time to be in the crypto market.
21:41
[SPEAKER_01]: Again, we say like you got to have fun while you're doing this.
21:44
[SPEAKER_00]: Yeah, no, it's totally and I think that's kind of why we love doing this show is you know, hey, we have winners
21:50
[SPEAKER_00]: We have losers, we have calls that take time to go, but at the same, it's all about kind of building that community and we all have different expertise in our whole team, the analysts that we have, obviously, Bryce and you.
22:01
[SPEAKER_00]: So, you know, if you're ever interested in learning more about what we do behind the paywall again, we give you, you know, a couple hours free a week and we're gonna even do more.
22:09
[SPEAKER_00]: So more free stuff, but there's something to be said about the community where it's literally that, you know, twenty four seven access inside a buzzing crypto community,
22:17
[SPEAKER_00]: with the coaching calls so you're getting extra time with a smaller group alive with Bryce and Brendan and our analyst team.
22:23
[SPEAKER_00]: So check out the links below if you're interested.
22:25
[SPEAKER_00]: I know we got like a dollar offer to give it a shot as this broadening continues and as the momentum continues in the industry.
22:32
[SPEAKER_00]: If it's something that you're really interested in and you know enjoy the podcast, check out the link below and see maybe we'll see inside the community because we'd love to have you.
22:40
[SPEAKER_00]: But I got two more, two more topics we didn't have on our sheet Brendan to wrap this up.
22:44
[SPEAKER_00]: I thought that, because this is a question that actually that I've been posing, we talked about it before, is like, you know, I don't want to say this on air, Brendan.
22:51
[SPEAKER_00]: I don't want to, I don't want to say this on air, but I'm going to.
22:55
[SPEAKER_00]: I don't want to, but I'm going to.
22:57
[SPEAKER_00]: I'm getting a little bored with the one hundred to one oh wait price range and Bitcoin said it to you off air we know we know we see it and and we break it down I'm getting a little bored I know we're not supposed to say that but I found a clip from from Tom Lee that was what juggled up my brain when we were talking about Tom I was like oh I saw that clip the other night about Tom talking about why he thinks we're kind of stuck in this price range and prices at moving so let's let's listen to that and I'd love to hear your take on it yeah
23:26
[SPEAKER_04]: We know Bitcoin ETFs are the most successful product launch like in history.
23:32
[SPEAKER_04]: And then someone says, well, if you're going to collect that much money, Bitcoin goes to the moon.
23:37
[SPEAKER_04]: But it turns out, Bitcoin's risen, but it's kind of churned.
23:40
[SPEAKER_04]: I think what happened is a couple things.
23:43
[SPEAKER_04]: One is, a lot of these ETFs may have been receiving in-kind exchange.
23:47
[SPEAKER_04]: So people have their crypto keys, give it to the ETF provider, and then they just stepped up their basis.
23:54
[SPEAKER_04]: So that's not going to push up the price of Bitcoin.
23:56
[SPEAKER_04]: It adds to their flash.
23:58
[SPEAKER_04]: Yes, it's a wash.
23:59
[SPEAKER_04]: And the second is that the ones who aren't involved in ETFs, but maybe they have a ten dollar Bitcoin, we have clients that have bought Bitcoin at a hundred dollars.
24:08
[SPEAKER_04]: And now it's a hundred thousand.
24:10
[SPEAKER_04]: They're not looking to, they don't care if Bitcoin goes to a million.
24:15
[SPEAKER_04]: They are probably sellers at around a hundred thousand.
24:18
[SPEAKER_04]: So we're churning the base now because ninety five percent of the institutional world does known Bitcoin, but a very significant portion of Bitcoin holders are sitting on huge gains.
24:31
[SPEAKER_04]: So I think this is the churn that's happening in Bitcoin now.
24:34
[SPEAKER_04]: The churn, Brad, what do you think of the churn?
24:36
[SPEAKER_01]: I mean, to make sense, right?
24:38
[SPEAKER_01]: It's a lot of these retail investors who have had exposure for a long time.
24:43
[SPEAKER_01]: They got in at a hundred.
24:44
[SPEAKER_01]: It's now a hundred thousand.
24:45
[SPEAKER_01]: They already have their life changing, their generational changing gains.
24:50
[SPEAKER_01]: Do they need to take the risk of Bitcoin going from a hundred thousand to a million?
24:54
[SPEAKER_01]: No, they don't.
24:55
[SPEAKER_01]: I mean, they've already made millions or hundreds of millions of dollars off of this move.
25:00
[SPEAKER_01]: So why take that risk?
25:02
[SPEAKER_01]: And so there is a little bit of a turn now to a new generation of investors who want to take the next step.
25:08
[SPEAKER_01]: And it makes sense.
25:10
[SPEAKER_01]: That's really all I had to say about there.
25:12
[SPEAKER_01]: You know, I think he made a good point about the flows as well.
25:15
[SPEAKER_01]: That's standing out how we're still seeing a lot of buyers over and there.
25:19
[SPEAKER_01]: And the fact that ninety-five percent of institutional money still is really not super exposed to the crypto market.
25:25
[SPEAKER_01]: So maybe we actually see a shift.
25:28
[SPEAKER_01]: Usually we see institutional selling the retail.
25:31
[SPEAKER_01]: This could be an inverse situation where we see retail selling to into the institutional side.
25:38
[SPEAKER_00]: Yeah, I think that in theory maybe I'm wrong is the first time in history that back then happened.
25:43
[SPEAKER_00]: So just one more thing was you wrap up here and approach the hour.
25:47
[SPEAKER_00]: I thought it would be good.
25:47
[SPEAKER_00]: It's July fourth.
25:48
[SPEAKER_00]: Q two just ended.
25:51
[SPEAKER_00]: Q two just ended Monday.
25:52
[SPEAKER_00]: June thirty if that's the closing bell was the fiscal Q two.
25:55
[SPEAKER_00]: for the stock market, so we are halfway through the year.
25:58
[SPEAKER_00]: Where did the time go?
25:59
[SPEAKER_00]: So I thought it'd be cool to pull up the fear greed index here.
26:02
[SPEAKER_00]: And this is the CMC Crypto Fear greed index.
26:05
[SPEAKER_00]: If you want me to pull up another one, Brendan, the Bitcoin one or whatever, let me know.
26:09
[SPEAKER_00]: But I kind of feel that.
26:11
[SPEAKER_00]: I feel like we're in neutral, right?
26:12
[SPEAKER_00]: It's kind of like what Tom Lee said.
26:14
[SPEAKER_00]: There's a lot of churning going on.
26:16
[SPEAKER_00]: The excitement of a hundred K was euphoric and kind of greedy, obviously, in that December, January timeframe.
26:23
[SPEAKER_00]: And then we've come back up and kissed it and I know we got into the greed level recently here.
26:28
[SPEAKER_00]: Yeah, and May and then kind of, you know, peatoring down into into neutral levels, which I, which I feel like is appropriate.
26:36
[SPEAKER_00]: And you're kind of obviously the macro.
26:38
[SPEAKER_00]: We've had a lot of shows based on the macro, but thoughts on the fear greed index where we are today.
26:45
[SPEAKER_01]: I think it's right.
26:45
[SPEAKER_01]: I think it's pretty accurate.
26:47
[SPEAKER_01]: We are sitting neutral at just below all time high levels.
26:53
[SPEAKER_01]: I don't think we're in a fear territory.
26:55
[SPEAKER_01]: I also don't think we're in a greed territory.
26:57
[SPEAKER_01]: We just bounced off the dip.
26:58
[SPEAKER_01]: We rose back up.
27:00
[SPEAKER_01]: Now we're consolidating.
27:02
[SPEAKER_01]: And I think we're at a very neutral solid level, which I'm bias.
27:08
[SPEAKER_01]: But I think we're going to resume to the upside and this shows that if we are neutral even leaning a little bit scared, there's a lot of room to the upside.
27:18
[SPEAKER_01]: We're not overextended.
27:19
[SPEAKER_01]: We're not over bought.
27:20
[SPEAKER_01]: We're not an extreme fear or greed.
27:23
[SPEAKER_01]: We have room to go up to that of extreme greed, but we're not even in neutral to normal greed territory yet.
27:32
[SPEAKER_00]: So yeah, that year in the bottom left here that yearly high low is You know November twenty if that eighty eight and then March tenth that a Fifteen so Just a roll the coaster of a year which which it always in some way seems to be so I think there's there's always gonna be some volatility volatility to the upside volatility to the downside and plenty of opportunities
27:58
[SPEAKER_00]: Thank you all for tuning in, especially our YouTube friends, and I'll hand it off to you to wrap us up, Brendan.
28:03
[SPEAKER_00]: Happy Fourth of July, everyone.
28:06
[SPEAKER_01]: Happy Fourth of July.
28:07
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28:09
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28:14
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28:19
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28:21
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28:23
[SPEAKER_01]: And we love putting out these episodes every single week around Wednesday.
28:28
[SPEAKER_01]: I like you've said we're going to be doing two of these a week pretty soon here.
28:31
[SPEAKER_01]: We're going to be making the change.
28:32
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28:35
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28:42
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28:48
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28:59
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29:06
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29:11
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29:13
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29:23
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