Latest / CRYPTO 101 / Crypto Rundown: Bitcoin at a Breaking Point — Crypto News & TA You Need to Know

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Crypto Rundown: Bitcoin at a Breaking Point — Crypto News & TA You Need to Know · CRYPTO 101

0:07
[SPEAKER_03]: All right, everybody.
0:08
[SPEAKER_03]: Welcome back to a Friday edition of the crypto run down.
0:12
[SPEAKER_03]: There's a lot of volatility in the markets around the world.
0:15
[SPEAKER_03]: The chip trade seems to be falling apart.
0:18
[SPEAKER_03]: There is some crazy volatility in Korea that we're going to talk about.
0:22
[SPEAKER_03]: But how is this affecting crypto?
0:24
[SPEAKER_03]: How is this affecting Bitcoin?
0:25
[SPEAKER_03]: It's not as volatile as you might think, but we have our two chartes here to break it all down.
0:30
[SPEAKER_03]: We've got Brendan, we've got Hunter, we've got an awesome Friday program scheduled for you.
0:35
[SPEAKER_03]: We're gonna jump right into the charts in just one second.
0:37
[SPEAKER_03]: But it's ton of other news to cover.
0:38
[SPEAKER_03]: So you're gonna wanna stick away.
0:40
[SPEAKER_03]: Check the timestamps below to see what the topics if you're interested in all of them.
0:44
[SPEAKER_03]: Some of them, we appreciate you being here.
0:46
[SPEAKER_03]: Give it a like.
0:47
[SPEAKER_03]: If you're new here, bottom right, hit subscribe and Brendan, let's dive right into the charts.
0:52
[SPEAKER_03]: Happy Friday, my friend.
0:54
[SPEAKER_01]: That'd be Friday, man.
0:55
[SPEAKER_01]: Good to have both of you on here with us.
0:56
[SPEAKER_01]: Good to have everyone in the audience.
0:59
[SPEAKER_01]: Definitely a lot going on here, right?
1:00
[SPEAKER_01]: Tons of volatility across the market will get into it.
1:04
[SPEAKER_01]: But really a couple lead catalysts here.
1:06
[SPEAKER_01]: That's really propelling us, right?
1:09
[SPEAKER_01]: Back and forth, a little bit to the downside here in the last couple of days.
1:14
[SPEAKER_01]: But we'll get into that.
1:15
[SPEAKER_01]: In fact, let's just open up the charts here as I may be walk through even some of these catalysts.
1:20
[SPEAKER_01]: because I think it's important to understand these.
1:23
[SPEAKER_01]: So let's look at Bitcoin first here and really what's going on.
1:26
[SPEAKER_01]: Because what we see here with Mr. Bitcoin is we chop sideways really for the last week or so and this is that daily chart that we like to really look at.
1:38
[SPEAKER_01]: But,
1:39
[SPEAKER_01]: We chopped sideways after this most recent move to the upside and we just went back and forth and back and forth and back and forth.
1:46
[SPEAKER_01]: We peaked our head over that 50 day moving average just a little bit and then we fell back down in here.
1:52
[SPEAKER_01]: Now, you're looking at this and probably going, well, you know, this looks pretty choppy like what's the cause for this.
1:57
[SPEAKER_01]: Well, at the start of the week, we basically were coming down here.
2:01
[SPEAKER_01]: Good inflation data came out and we'll get into that.
2:04
[SPEAKER_01]: pretty drastically lower than expected CPI and PPI.
2:08
[SPEAKER_01]: And then to the markets, you started pumping on that news.
2:12
[SPEAKER_01]: And we'll explain kind of the catalyst and what that means and why inflation data and all these things even mean anything to the crypto market.
2:21
[SPEAKER_01]: But, you know, following kind of this move up, we saw the market's continuing to bleed back to the downside here.
2:27
[SPEAKER_01]: Now, again, I think there's three catalysts, or really two big ones.
2:31
[SPEAKER_01]: You have the inflation data, and then you have what's happening over in TradFi as well.
2:36
[SPEAKER_01]: Now, the TradFi market's here have been getting peppered.
2:40
[SPEAKER_01]: And crypto was actually outperforming, kind of leading up into this, but just a little bit, you know, I'm talking about recent data,
2:48
[SPEAKER_01]: But here you have NASDAQ just getting hammered here on the last three or so days, which coincidentally is when Bitcoin really started falling, right?
2:56
[SPEAKER_01]: The last three days, so you sold NASDAQ kind of peek up to a tie of day, fall another one, one and a half percent.
3:03
[SPEAKER_01]: The following day after that, it fell another two, two and a half percent.
3:07
[SPEAKER_01]: Today it fell another two almost three percent to the downside.
3:11
[SPEAKER_01]: And so you're seeing risk assets across the board really start to come back in a little bit here.
3:16
[SPEAKER_01]: And that's one of the causes that, excuse me, is causing a bit of the, sorry, I guess, throwing my throat a little bit of a sell off here in the crypto market is because you're just seeing a D risking.
3:28
[SPEAKER_01]: Now up until I would say the last two, one, the two days, what you really saw heavily was three major spaces selling off.
3:36
[SPEAKER_01]: You saw the memory space in DRAM.
3:38
[SPEAKER_01]: You saw the
3:45
[SPEAKER_01]: Those areas which were extremely hot, they were sucking liquidity away from other areas of the market.
3:52
[SPEAKER_01]: And it felt like money was flowing out of everything and into those.
3:56
[SPEAKER_01]: And everything in those spaces were just going parabolic for the last, you know, little while here.
4:01
[SPEAKER_01]: Now what we've started to see is a little bit of the opposite happen.
4:04
[SPEAKER_01]: You started to see those areas specifically get hit.
4:08
[SPEAKER_01]: Wow.
4:09
[SPEAKER_01]: other areas of somewhat kind of recovered and we'll get into those but just briefly to show this you know that's NASDAQ kind of falling here and reaching a big old and important point but then you look at things like DRAM which is the memory space that I've talked about an absolute freefall you know falling 40% off of its highs um you could go and you could see
4:29
[SPEAKER_01]: I would say, you know, even different areas beyond just like DRAM and tech, you could probably go and see some of these other like AI plays, again, just getting hammered, you could probably see AMD, you know, off the highs as well, falling here.
4:42
[SPEAKER_01]: And so again, those areas of tech that were really, really hot and sucking liquidity away from the market, those are the ones that we're getting hammered.
4:50
[SPEAKER_01]: And now what you see is the crypto space actually getting a little bit of a bumper it was.
4:57
[SPEAKER_01]: So now the question is, well, if that was the case, why is crypto coming back in here and it goes back to the original statement that I made, which is just that risk assets across the board now are kind of getting a little bit scared.
5:11
[SPEAKER_01]: They're seeing how everything's falling, and you have these investors who want to be more risk gone, really kind of step away a little bit, and those are the people who are saying, you know, let's just put our money on the sidelines.
5:22
[SPEAKER_01]: Let's see how this plays out and then after something like that,
5:26
[SPEAKER_01]: will come back in.
5:28
[SPEAKER_01]: And so if we get into these PPI and CPI numbers, the reason why these matter to crypto is because as you have the markets trying to price in what's going to happen with rate cuts, you have the crypto space which has historically performed really good when the market wants to cut rates and then you have the crypto market.
5:50
[SPEAKER_01]: not performing great when there are rate hikes on the horizon.
5:55
[SPEAKER_01]: And so what we saw here was this was the CPI number coming in at 3.5% below the 3.8% expected, core felt it, you know, to 2.6, below the 2.8 expected, and month over month CPI fell to 0.4%, which is the biggest monthly drop that we've seen since May of 2020.
6:19
[SPEAKER_01]: Basically a different form of measuring inflation, but you have this following the 5.5 versus the 6.2 expected, core following the 4.7 versus the 5.2 expected, and then month of remunfalling to negative 0.3.
6:34
[SPEAKER_01]: So why does this, and I don't, do I have that on the screen?
6:37
[SPEAKER_01]: Can you guys see that?
6:39
[SPEAKER_03]: No, let's see, basically.
6:40
[SPEAKER_03]: Okay.
6:46
[SPEAKER_01]: Um, let's just, I guess, you know, we went over the numbers, so it's not a big deal, but let's try this one more time.
6:55
[SPEAKER_01]: and see if you guys can't see this.
6:59
[SPEAKER_01]: But yeah, I mean, these are just those numbers that I was referencing just to give everyone a little bit of a graphic to kind of match the stuff too.
7:05
[SPEAKER_01]: That was the CPI and then that was the CPI numbers.
7:09
[SPEAKER_01]: But I think that's gonna be a big thing that kind of keep an eye out on here.
7:13
[SPEAKER_01]: Because if you continue to see inflation lowering that increases the chance of break cuts, it's,
7:19
[SPEAKER_01]: And that's really the kind of market conditions that the crypto space likes.
7:24
[SPEAKER_01]: And if you start seeing it go back in the other direction, then there's probably some turbulence here.
7:29
[SPEAKER_01]: So in the charts here, I think the big thing we're watching out for is can Bitcoin really peek its head through this mid $60,000 level.
7:36
[SPEAKER_01]: Like that's the thing that everyone wants to care about here.
7:39
[SPEAKER_01]: can Bitcoin get over this hump, start pushing in the higher highs, because really since last October on Bitcoin, you've had just lower highs, lower highs, lower highs, lower highs, over and over and over again, Bitcoin has been unable to break above that 200-day moving average, and it's just been getting clobbered at every attempt to the upside that it's had.
7:59
[SPEAKER_01]: So the big thing that we need to watch for a reversal here is, can we actually break out in the higher highs?
8:04
[SPEAKER_01]: Obviously, we found a little bit of a bottom here right around the high 50,000s, low 60,000s.
8:10
[SPEAKER_01]: Now, the next real question is, can we hold those lows and can we actually attack the upside?
8:15
[SPEAKER_01]: And I think that's the big thing that we need to kind of wait and watch out for here.
8:19
[SPEAKER_01]: The other thing is that the 50-day moving average, this kind of pink or reddish line.
8:24
[SPEAKER_01]: is right around where we're at, but you also have the blue line, which is the 20-day moving average.
8:29
[SPEAKER_01]: So the 20 and 50-day moving average is here right almost side by side, and if you get the 20-day crossing up over the 50-day, that's called a golden cross.
8:39
[SPEAKER_01]: And if you can get us an area where you have a golden cross and then price action trading above that golden cross and bouncing off of it as support and going further to the upside, it's a really good look for the bulls.
8:51
[SPEAKER_01]: And so I think that's another thing that we would want to keep an eye out on.
8:55
[SPEAKER_01]: Should that be the case.
8:57
[SPEAKER_01]: So, big story here, you know, is there an absolute bottom in yet that we have that data yet?
9:01
[SPEAKER_01]: We still don't.
9:02
[SPEAKER_01]: There's still some downside risk.
9:05
[SPEAKER_01]: Again, I think right now the big fear is what's going to happen over on the traditional side, how our risk assets as a whole going to respond.
9:13
[SPEAKER_01]: But I would say outside of that triadfair risk, crypto doesn't look.
9:17
[SPEAKER_01]: quite as bad.
9:19
[SPEAKER_01]: Again, really, before you had the traditional financial side and the equities and the indices really start to fall off a cliff, you had Bitcoin doing well.
9:28
[SPEAKER_01]: I mean, it was pushing higher.
9:30
[SPEAKER_01]: It was trying to break out of the 50-day moving average.
9:32
[SPEAKER_01]: It was trying to break through highs and it was doing a lot of that stuff and it wasn't until you started to see a little bit of a roller over that the selling pressure started to come back in.
9:41
[SPEAKER_01]: So, still,
9:42
[SPEAKER_03]: in a funny way uh... kind of brings back on to the table that old uh... law of cryptos and hey bitcoin and crypto lead the market it's like oh bitcoin in all time high the nazz dack the s and p's gonna be right behind it and we were kind of riding that for two you know year two years people a lot of people were saying it uh... it was a fun talking point and then bitcoin fell for cliff and obviously the memory trade and everything else keep kept going and so it was like oh well that that you know that lord doesn't hold anymore that's not true again there's no factual
10:12
[SPEAKER_03]: uh... actual factual like study behind it but it was an interesting talking point and then bitcoin fell in the memory trade kept going and now we're kind of seeing like you you showed here with your charts and hunter let's get to you next with your charts if you want to let uh... brand if you want a hunter pull up his um... is is like hey is is bitcoin kind of led the way down and if it holds your at least with less volatility than the s and p the nazz back and specifically this memory trade
10:37
[SPEAKER_03]: is it kind of a fun talking point maybe to bring back as you kind of noticed with those moving averages kind of curling up is an interesting point.
10:47
[SPEAKER_03]: So Hunter, take us through your wisdom, your charts.
10:50
[SPEAKER_03]: Do you agree with Brendan?
10:51
[SPEAKER_03]: Do you disagree?
10:52
[SPEAKER_03]: That's what's all about, you know, discourse and understanding, you know, different opinions.
10:57
[SPEAKER_03]: Let's hand it off to you, Hunter.
10:58
[SPEAKER_02]: Yeah, well, I actually have a great segue chart for that relationship of Bitcoin related to the NASDAQ which means rotation style trading here.
11:07
[SPEAKER_02]: We've got the Bitcoin relative to the NASDAQs with Bitcoin on the numerator NASDAQ on the denominator and you can see this relationship over the last.
11:15
[SPEAKER_02]: nine years and we're hitting multi multi year lows this trend line right here and each time we've hit this relationship with Bitcoin was very undervalued relative to Nasdaq like performance wise those were the marks of the turns in the crypto cycle.
11:31
[SPEAKER_02]: And we're seeing that signature right now.
11:34
[SPEAKER_02]: Now, it can play out for several weeks, several months.
11:37
[SPEAKER_02]: As it did over here in 2022, but we're seeing that signature, you know, that kind of wick down under the trend line.
11:43
[SPEAKER_02]: And we're getting some good movement this week.
11:46
[SPEAKER_02]: So I'm saying,
11:47
[SPEAKER_02]: right now Bitcoin is looking pretty buoyant and it does look like there is a bit of a rotation back into the leading risk on asset which is Bitcoin just by looking at this chart alone.
11:58
[SPEAKER_02]: Now this is just one chart, this is one data point, but it's just something to be interested that we're interested in because it is like some of a, you know,
12:07
[SPEAKER_02]: higher, higher, higher, higher low, higher low, and the market structure is shifting like that.
12:11
[SPEAKER_02]: So I like this chart.
12:14
[SPEAKER_02]: It really paints a really pretty picture of when caple starts to rotate.
12:18
[SPEAKER_02]: So we'll be monitoring this going forward, but it does look like Bitcoin is starting to outperform at least the traditional markets when it comes to NASDAQ.
12:25
[SPEAKER_02]: But looking high time frame, just on Bitcoin, it's alone Bitcoin's spot.
12:29
[SPEAKER_02]: Well,
12:30
[SPEAKER_02]: This is why we're bouncing right here.
12:32
[SPEAKER_02]: We've got multiple levels that are starting to come and coalesce.
12:36
[SPEAKER_02]: Not only do we just have a wonderful linear trend line that we're bouncing off of.
12:40
[SPEAKER_02]: We have the 200 week moving average, which we actually closed below a few weeks ago, but reclaimed it.
12:46
[SPEAKER_02]: So that's usually a bullish sign where you kind of have that fake out and then you come back above.
12:50
[SPEAKER_02]: We're really going to want to try to hold above it this week so we can kind of get continuation up towards that 50 week moving average towards around the 70,000 level that I'm really iron right now.
13:00
[SPEAKER_02]: But until then, we don't have full confirmation.
13:02
[SPEAKER_02]: We still need a little bit more data.
13:04
[SPEAKER_02]: But nonetheless, if we also take our anchored volume with average price from the 15,000, 2022 cycle low,
13:10
[SPEAKER_02]: well low and behold where do we bounce most recently right off that level and that's a huge level because that pretty much shows you where all the volume averages out where all participants where they've traded from a volume weighted perspective that is the price.
13:27
[SPEAKER_02]: So that's like a fair value price.
13:28
[SPEAKER_02]: It's one way to look at fair value.
13:30
[SPEAKER_02]: Now you can look at different on-chain metrics as well.
13:33
[SPEAKER_02]: for fair value measures, but this is a traditional technical analyst view of looking at some fair value.
13:39
[SPEAKER_02]: We bounced right off that.
13:41
[SPEAKER_02]: On top of that, if we take a third retracement tool from the cycle low in 2022 to our current all-time high at 126k, and we come and we put out the 0.618th Thibonacci retracement, which is the golden ratio.
13:56
[SPEAKER_02]: So it's a mathematical thing.
14:01
[SPEAKER_02]: and make this a little bit bigger for you guys, fontless.
14:05
[SPEAKER_02]: It was at $57, 800.
14:07
[SPEAKER_02]: Where do we bounce right here?
14:09
[SPEAKER_02]: Look at all these variables, coalescing right here.
14:12
[SPEAKER_02]: That low on the Coinbase pair was $57, 700.
14:16
[SPEAKER_02]: So just south of $100 missed.
14:20
[SPEAKER_02]: And so you can see that we're at a very pivotal point right here.
14:26
[SPEAKER_02]: And here's what I wanna kind of,
14:29
[SPEAKER_02]: press upon you.
14:30
[SPEAKER_02]: When we get to these big, high time frame levels, what happens is a lot of people, they start feeling the bearish sentiment and all that.
14:39
[SPEAKER_02]: But these are big levels.
14:40
[SPEAKER_02]: This happened over the last four years.
14:42
[SPEAKER_02]: And we haven't touched them yet.
14:44
[SPEAKER_02]: So when we get to those points, we can at least expect a bit of reprieve or a bit of a bounce.
14:50
[SPEAKER_02]: And so it's warranted.
14:52
[SPEAKER_02]: I mean, we were going down for two months.
14:53
[SPEAKER_02]: We've been going down for about nine months since the all-time high.
14:57
[SPEAKER_02]: And we had, you know, a rally earlier this year for about three months.
15:01
[SPEAKER_02]: So it's not really that random that we're bouncing here a bit.
15:05
[SPEAKER_02]: Now, of course, we're not out of the woodworks, of course.
15:08
[SPEAKER_02]: We're still in a bit of a range on the low time frame that we can just kind of use a parallel channel to to show.
15:16
[SPEAKER_02]: If I make this.
15:17
[SPEAKER_02]: And you can see we're just kind of ranging.
15:19
[SPEAKER_02]: We're at the midpoint of that range right now.
15:20
[SPEAKER_02]: The moving averages are kind of tightening up.
15:24
[SPEAKER_02]: So there isn't a trend at the moment.
15:26
[SPEAKER_02]: It's just a range environment.
15:28
[SPEAKER_02]: And the old adage for a range is trade the range until it breaks.
15:32
[SPEAKER_02]: So we'll be looking at the top side of the range.
15:33
[SPEAKER_02]: We'll be looking towards the bottom side of the range.
15:35
[SPEAKER_02]: And until we get a trending environment to where we move back up above,
15:40
[SPEAKER_02]: are prior high right here, 6768K and retest.
15:43
[SPEAKER_02]: Well, we're still in a bearish trend long term, but that would be our first sign of strength on the short to medium term, to where we can at least connect up here towards 70K.
15:54
[SPEAKER_02]: Now,
15:55
[SPEAKER_02]: Just a wrap up Bitcoin here real quick.
15:57
[SPEAKER_02]: I'll show you exactly why we're resisting where we are if we take our volume profile from the beginning of the February price action to where we are now this whole range.
16:07
[SPEAKER_02]: You can see we're coming up right we rejected at the point of control.
16:11
[SPEAKER_02]: back in the middle of June.
16:13
[SPEAKER_02]: So very, very important level.
16:14
[SPEAKER_02]: And then now we're at the value of the low, which is this orange line on the volume profile histogram.
16:20
[SPEAKER_02]: And you can see that this range right here is resistance.
16:23
[SPEAKER_02]: And right now we're trying to make maybe another lower high.
16:27
[SPEAKER_02]: But
16:28
[SPEAKER_02]: If we don't, then that would be our first sign of strength because there's a lot of volume that transpired here.
16:33
[SPEAKER_02]: So if you get above that, then that means bulls are starting to take control.
16:36
[SPEAKER_02]: At the moment, the bears have been in control.
16:38
[SPEAKER_02]: Nonetheless, though, we hit a massive level.
16:41
[SPEAKER_02]: We can easily just come back below this and hit the, you know, retest 60,000, make a higher low and continue up.
16:48
[SPEAKER_02]: you know, that is a very big possibility.
16:51
[SPEAKER_02]: We have to play it that way.
16:52
[SPEAKER_02]: But the longer it sits down here, the longer it kind of rolls everybody to sleep, the more dangerously gets to the upside.
16:59
[SPEAKER_02]: The asymmetric rest will be to the upside.
17:01
[SPEAKER_02]: So that's what I'm looking at.
17:02
[SPEAKER_02]: I'm Bitcoin.
17:04
[SPEAKER_02]: I'm still, you know, full disclosure.
17:05
[SPEAKER_02]: I am long, still right now from pretty much close to the lows.
17:09
[SPEAKER_02]: I don't have my full position anymore, but, you know, I'm still looking to possibly continue this move up for a little bit.
17:15
[SPEAKER_02]: At least still maybe, you know, the end of the month.
17:19
[SPEAKER_03]: Okay, great stuff, honored.
17:24
[SPEAKER_03]: Thank you.
17:25
[SPEAKER_03]: And I think that, again, I'm, everybody kind of has a different approach, different style.
17:30
[SPEAKER_03]: That's why I love having Brendan Hunter on when we can at the same time to get that different type of breakdown.
17:34
[SPEAKER_03]: And if anybody's interested, refresh your page on YouTube.
17:38
[SPEAKER_03]: And you know, we talk about all the time.
17:39
[SPEAKER_03]: Brendan has a trading course, where you can get kind of this type of TA with Brendan Hunter twice a week.
17:44
[SPEAKER_03]: So scroll down.
17:45
[SPEAKER_03]: check the link there to learn more about that.
17:48
[SPEAKER_03]: We've got who do you have in the chat?
17:50
[SPEAKER_03]: Let's see who's there.
17:51
[SPEAKER_03]: We got BTC Harpis good morning Kevin from Lakeland, Florida not too far from me love that good morning everybody Let us know who's watching.
17:59
[SPEAKER_03]: Let us know who's watching.
18:00
[SPEAKER_03]: Let us know who's far from me.
18:02
[SPEAKER_03]: Yeah, me and Hunter.
18:02
[SPEAKER_03]: That's right.
18:03
[SPEAKER_03]: The, um, as we move on, I thought this was kind of cool that what we were talking about not really cool, but it's just really interesting.
18:10
[SPEAKER_03]: I mentioned at the top of the show, the volatility in South Korea has been crazy.
18:14
[SPEAKER_03]: Yeah, it's been wild and I think that's, you know, causing some ripples in the market that you're seeing, of course, the memory trade.
18:21
[SPEAKER_03]: uh... that would bring him was talking about a kind of you know quote quote may be falling off a cliff down twenty thirty percent of these high flyers this is the volatility chart i saw and it i mean work work this chart goes back all the way to nineteen eighty here folks on the left so you're looking at similar to the two thousand eight which was a global financial crisis similar
18:39
[SPEAKER_03]: to 99 times.com bubble and like I think it's cool or not cool, but I think it's so unique to a career right now because a lot of those chip trades, a lot of those companies are based in South Korea.
18:53
[SPEAKER_03]: And so there's a lot of excitement in that country for the, you know, not maybe not the first time, but they're a leader, a global leader in this trade.
19:00
[SPEAKER_03]: And so I think it's gotten a lot of people, a lot of average people, every day people kind of get involved in
19:10
[SPEAKER_03]: But with all the leveraged ETFs and all the ability to go in and get exposure at unique rates that a lot of people probably don't understand It seems to be causing some historic volatility over there and I think that's creeping into the markets kind of you know in a way Brennan I always bring this up from time to time It reminds me of that it was like the kind of the chitrade it was like August of 20 was that 24 August of 20.
19:33
[SPEAKER_03]: I think so
19:36
[SPEAKER_03]: And it was like a crazy unwind and I remember me and you were on the run down and we're just like, what is going on?
19:41
[SPEAKER_03]: There's like, oh, the Nikai trade.
19:43
[SPEAKER_03]: It's a, it's a carry trade and you got to unwind this trade, to unwind that trade, to unwind this trade to get your money out.
19:49
[SPEAKER_03]: And it's like, is that why Bitcoin's down?
19:52
[SPEAKER_03]: Like, I don't, I didn't buy Bitcoin because of the, the Japan.
19:55
[SPEAKER_03]: Kai, like this doesn't make sense to me.
19:57
[SPEAKER_03]: And so that was kind of a buying opportunity.
20:01
[SPEAKER_03]: I thought, again, each situation's different.
20:03
[SPEAKER_03]: I don't think this is exactly the same.
20:04
[SPEAKER_03]: But it is interesting when you see kind of the plumbing of the global financial investment system kind of hit these walls.
20:13
[SPEAKER_03]: It is kind of good to zoom out and just kind of, it's a good time to zoom out and check your own trade, check your own portfolio and go, OK, am I connected to this?
20:21
[SPEAKER_03]: Am I not?
20:23
[SPEAKER_03]: And again, we've been kind of watching and talking about this memory trade, part of the AI trade, just high-flying, and I don't know, I think I've said on the show openly, like, I had a couple things here and there that were doing well in it, but nothing crazy.
20:37
[SPEAKER_03]: I felt like an outsider looking at it almost a little bit, and I think it's a lot easier to call a top when you're not emotionally invested.
20:44
[SPEAKER_03]: I was actually watching this thing recently, like, this isn't going to last, there's no way.
20:48
[SPEAKER_03]: And then, sure enough, some of these things, the individual stocks.
20:52
[SPEAKER_03]: Um, and the Bitcoin miners were kind of tied up into that too, right?
20:55
[SPEAKER_03]: Like a lot of Bitcoin miners riot, iron, they kind of, we've had on the show before have pivoted from mining Bitcoin to now.
21:02
[SPEAKER_03]: Oh, well, we'll sell you AI energy and these stocks were flying up hundreds of percent.
21:07
[SPEAKER_03]: But now they're correcting 30.
21:09
[SPEAKER_03]: I saw some at 50, 60 percent correction.
21:12
[SPEAKER_03]: So, um, yeah, Brendan just hop in there, Hunter.
21:14
[SPEAKER_03]: Let's get to your take second, but Brendan, any thoughts on the, the broader picture here with this volatility?
21:20
[SPEAKER_01]: Yeah, I think with this kind of volatility like it's always it's it's you don't always have to be in a trade, right?
21:27
[SPEAKER_01]: You it's a volatile.
21:29
[SPEAKER_01]: It's choppy 100.
21:31
[SPEAKER_01]: I have actually gone back and forth talking about this like pretty recently like Sometimes the best trade you can make is no trade at all and it's okay to sit on your hands and Especially if the markets are a little bit more uncertain and they are really volatile the average person You know can't sit at their computer all day.
21:47
[SPEAKER_01]: They can't monitor this stuff.
21:49
[SPEAKER_01]: It freaks them out
21:50
[SPEAKER_01]: If that does concern you, then I would say, hey, like, do a little bit of the dollar cost to have her jeans on the side and kind of do your own thing.
21:59
[SPEAKER_01]: But you don't feel like you have to necessarily in a vault.
22:02
[SPEAKER_01]: Now, my whole idea is I think that where we're at down here as a whole is I think we will get by the dip opportunities.
22:08
[SPEAKER_01]: I don't think the world's blowing up.
22:10
[SPEAKER_01]: I don't think this is the next nuclear event for the markets, for Bitcoin or for tradfights.
22:16
[SPEAKER_01]: You know, pullbacks happen, but I think that out of the ashes of these pullbacks, I think we get buying opportunities, and that's what I view this as.
22:23
[SPEAKER_01]: You know, you said the Japanese carry trade, that was a great example.
22:26
[SPEAKER_01]: You look at the tariff crash, that was a great example.
22:28
[SPEAKER_01]: You look at some of the by the dip in like swing trading opportunities that came out of the tariff crash, or not the tariff crash, the geopolitical stuff that we had earlier this year.
22:38
[SPEAKER_01]: Tons of great trades that came out of that.
22:40
[SPEAKER_01]: I think that we're kind of in the same scenario with where we're at right now.
22:45
[SPEAKER_01]: like I want to be positioning for the upside as opposed to positioning for the downside.
22:50
[SPEAKER_01]: And I had someone ask me like a week or two ago and say, hey, should I sell my Bitcoin and expect prices to go lower?
22:56
[SPEAKER_01]: And it's like, well, no, I definitely don't want to do that.
22:59
[SPEAKER_01]: If anything, I want to accumulate more Bitcoin.
23:01
[SPEAKER_01]: However,
23:02
[SPEAKER_01]: Is there downside risk and the answer is still, yeah, like there is still downside risk Bitcoin could still go to new lows, but I definitely do not want to be selling off all of my crypto at these levels and betting that we're going to go to new lows.
23:16
[SPEAKER_01]: I think that's just a different level of risky.
23:21
[SPEAKER_02]: Well, yeah, and regarding, especially the volatility here in Korea, I mean, right now the EWY, which is the South Korea ETF is down 30% from all-time highs, but as we've been speaking, it's up about four to five percent just this morning.
23:35
[SPEAKER_02]: Even the Nasdaq is already balanced about 1.5% since we've started this show.
23:39
[SPEAKER_02]: So definitely people catch you in a bid.
23:42
[SPEAKER_02]: I'm still, you know, from the traditional standpoint, looking for higher lows, still pretty bullish of 10% correction, not too much.
23:48
[SPEAKER_02]: Regarding maybe some of the unwind, especially in AI and memory, well, of course we had the war begin and we had oil go up and then we had worries about energy driven inflation and it came back down and then now it's starting to go back up.
24:01
[SPEAKER_02]: And then we have on top of that issues with CapEx because
24:05
[SPEAKER_02]: Because of the energy driven inflation, you have a two-pronged effect, they're kind of comorbid here.
24:10
[SPEAKER_02]: You have the energy driven inflation, which will drive costs for AI, you know, electricity power.
24:15
[SPEAKER_02]: But then also that also makes the Fed have to maybe pivot to raising rates.
24:21
[SPEAKER_02]: And then you need to issue more debt, it capex, it higher interest expense.
24:24
[SPEAKER_02]: So you have two things and then you have that winding out down.
24:27
[SPEAKER_02]: And so then you see that liquidity may be flowing back into other assets.
24:31
[SPEAKER_02]: Other asset classes that I can't necessarily prove that.
24:33
[SPEAKER_02]: I mean, spot Bitcoin ETF flows have been a bit weak this, you know, over the last.
24:39
[SPEAKER_02]: month or so, but it does seem like that is something that might be happening right now as people are unwinding from the kind of AI memory play.
24:47
[SPEAKER_02]: And Shalkaria is definitely kind of the proxy for that.
24:52
[SPEAKER_03]: Great points.
24:53
[SPEAKER_03]: And I think just one final point on that is a kind of, I've talked about in the show.
25:00
[SPEAKER_03]: I've been like, yeah, I'm kind of on the outside looking in on this, this memory trade.
25:03
[SPEAKER_03]: And it's been, you know, fascinating to watch, but I've never felt more
25:08
[SPEAKER_03]: it as that starts to unwind right it's we've just talked about hey it's the bell of the ball who's the girl that you want to take to the dance and you know it was perfect we had our run we truly did we had our run and then it shifted and the money you know the money finds the hot not new thing in the market
25:24
[SPEAKER_03]: And so you're watching this thing just continuously go up and like, is this ever going to stop?
25:29
[SPEAKER_03]: And not only is it ever going to stop, is it ever going to go down?
25:31
[SPEAKER_03]: Like I remember over the last three months, I mean, you could turn on any business channel, any podcast.
25:37
[SPEAKER_03]: And it's just any talking head saying, no, this is this makes sense.
25:41
[SPEAKER_03]: This micron move makes sense.
25:43
[SPEAKER_03]: This DRAM ETF going up 150% they don't have enough.
25:46
[SPEAKER_03]: They're not, they can name their price.
25:48
[SPEAKER_03]: They don't have enough.
25:49
[SPEAKER_03]: People will never stop buying.
25:51
[SPEAKER_03]: And like as soon as you start hearing that stuff, my ears perk up of like, well, that's, that's not how this thing works.
25:56
[SPEAKER_03]: That's not how the, the market's work.
25:58
[SPEAKER_03]: Like somebody you'll eventually get humbled.
26:01
[SPEAKER_02]: I have another thing to kind of add onto that.
26:03
[SPEAKER_02]: Right now with like anthropic and some of these models that are actually pretty expensive, we have like some of these Chinese models, like Kimi K3 that are massive and they are public and open sourced and free.
26:15
[SPEAKER_02]: And so when you start to hit this kind of bubble where people are like, okay, I'm having issues paying for $100 or $200 subscription per month, I'm just gonna go to this public model.
26:26
[SPEAKER_02]: That starts breaking down some of that AI narrative.
26:30
[SPEAKER_02]: I think we're starting to see something like that because it is pretty expensive for the average user to use these models that we have here in the US relative to the open source, kind of free models in China.
26:43
[SPEAKER_03]: Yeah, and then I think as it feels like it's the capex race of, hey, spend as much as you can build the biggest and best, but does that turn into ROI and, you know, a lot of these companies that say it's all speculation just on Ford returns essentially.
26:58
[SPEAKER_03]: And then the companies that are using the AI, but yeah, we'll use whatever the best AI is if it brings us ROI and then you start learning I think Uber was one of the first ones to come out and say hey time out we're our token we're spending too much on tokens we're hiring these people to do their jobs and they want to hire AI with the tokens and our token expenditures crazy so it's just
27:18
[SPEAKER_03]: It's a new air.
27:19
[SPEAKER_03]: There's a lot of learning.
27:20
[SPEAKER_03]: It's a lot of fun just to, you know, be in the market, be involved and see because it is a historical change in tech.
27:26
[SPEAKER_03]: But I don't think, I specifically remember a couple, it was a couple different people just coming on and talking about the memory trading saying, no, this thing won't go down.
27:34
[SPEAKER_03]: It's a name, it's a name your price.
27:36
[SPEAKER_03]: It's a name your price market.
27:38
[SPEAKER_03]: Like, that it's not going down.
27:39
[SPEAKER_03]: It's not cyclical.
27:40
[SPEAKER_03]: Traditionally, memory and chips has been cyclical.
27:42
[SPEAKER_03]: And it's not cyclical anymore.
27:43
[SPEAKER_03]: It's a name your price market.
27:44
[SPEAKER_03]: And I heard that, and I was like, I feel like that's the clip they play after 34% correction.
27:50
[SPEAKER_03]: Well, let's swing back into crypto, specifically Bitcoin, because Hunter mentioned the ETFs.
27:56
[SPEAKER_03]: And we have the first positive week for the first time in nine weeks.
28:01
[SPEAKER_03]: Hunter said, yeah, the ETFs have been a week, but, you know, here you go here.
28:05
[SPEAKER_03]: Just seeing that first green blip.
28:07
[SPEAKER_03]: kind of coming off the bottom there.
28:09
[SPEAKER_03]: So that's interesting to see that the inflow start to come back in speaking of Bitcoin ETFs.
28:16
[SPEAKER_03]: None bigger than BlackRock.
28:18
[SPEAKER_03]: Larry think making the rounds this week, getting some TV time, looking great as always and talking about crypto and Bitcoin.
28:24
[SPEAKER_03]: So let's see what he had to say.
28:26
[SPEAKER_00]: There is no question, as I said it in earlier times, and I would hear, I was always worried about the leveraging in Bitcoin and crypto.
28:34
[SPEAKER_00]: There was too much leverage players in it.
28:36
[SPEAKER_00]: That's why we had to wash out, and I think there's more stability at these levels here.
28:40
[SPEAKER_00]: But no, we don't see that much implicit leverage for the scale of the capital markets today.
28:48
[SPEAKER_00]: The leverage is not as large.
28:50
[SPEAKER_00]: I mean, that doesn't mean there's not pockets.
28:55
[SPEAKER_00]: But no, I, as I said in my prepare remarks this morning, I'm very bullish on the market over the next 12 months.
29:02
[SPEAKER_00]: I think there is no question.
29:04
[SPEAKER_03]: Always good to hear Larry think being bullish.
29:07
[SPEAKER_03]: Obviously talking his book with BlackRock having, you know, one of the largest.
29:11
[SPEAKER_03]: Bitcoin ETFs are the largest Bitcoin ETF but I just thought that was interesting but again it's like it's taking these pieces and building your puzzle and this one jumped out to me this week was the Citadel friend of the show Ken Griffith of course investing in crypto.com raising four crypto.com raises 400 million dollars from the largest US retail market maker the Citadel securities at a 20 billion dollar valuation
29:39
[SPEAKER_03]: I, you know, I have a saying, I think Brennan, I've talked about it.
29:42
[SPEAKER_03]: I don't fake can't grip with that guy.
29:44
[SPEAKER_03]: That guy, the Citadel basically, for those who don't know, they make money every day.
29:48
[SPEAKER_03]: They make money when the market goes up.
29:50
[SPEAKER_03]: They make money when the market goes down.
29:52
[SPEAKER_03]: That is the ultimate money printer.
29:55
[SPEAKER_03]: So I personally don't fake can't grip with whatever he's doing.
29:59
[SPEAKER_03]: And so I thought this was really interesting.
30:01
[SPEAKER_03]: Them investing in crypto.com kind of, uh,
30:05
[SPEAKER_03]: pairing off of what Larry thinks said of like, hey, seeing some stability at these levels obviously crypt has been very volatile to the downside recently, but seeing some stability, the ETF flows show that and then you start seeing this type of news and it's okay, the, you know, tradify is here.
30:21
[SPEAKER_03]: We've known that and it doesn't look like they're going anywhere.
30:23
[SPEAKER_03]: So, Hunter, what do you, is this news that gets you excited?
30:27
[SPEAKER_02]: Well, it's interesting because at 20 billion dollar valuation and Kronos the coin itself is at like a 2.6 market billion market cap and fully diluted's about 5.6 billion I remember several years ago when the Kronos chain came out and I actually Was pretty involved with it with a lot of the meme coins on there
30:46
[SPEAKER_02]: did a little bit did well for a little bit and then got absolutely rinsed as it came all the way back down.
30:51
[SPEAKER_02]: So I find this interesting, but it is, you know, I agree.
30:56
[SPEAKER_02]: Citadel, you know, they make money trading with order flow.
31:00
[SPEAKER_02]: They get special data that from retail investors and they use against you.
31:06
[SPEAKER_02]: So it's always a little bit, yeah, it may be skeptical of something like this, but it seems like
31:15
[SPEAKER_02]: For instance, like a Robin Hood and then, you know, crypto that some people that made a foothold in the industry several years ago are starting to come back.
31:22
[SPEAKER_02]: It's like they they put themselves out there and then they kind of all got rinsed or washed and then now people are coming back scooping them up and it seems like as they have that U.S. jurisdiction, U.S. foothold that people are trying to, you know, build out their infrastructure now.
31:36
[SPEAKER_02]: But other than that, I don't have much more to say about the crypto.com purchase.
31:45
[SPEAKER_01]: There I say this.
31:46
[SPEAKER_01]: I don't feel like they've been super relevant for a bit.
31:50
[SPEAKER_01]: Yeah.
31:51
[SPEAKER_01]: And they're there and they're certainly not small.
31:53
[SPEAKER_01]: They're a decent size.
31:55
[SPEAKER_01]: But I think they really peaked during a previous cycle.
31:58
[SPEAKER_01]: When you look back at the 2022 run, they're really, really popular dominant there.
32:03
[SPEAKER_01]: I, yeah, we'll see.
32:08
[SPEAKER_01]: I'm a,
32:09
[SPEAKER_01]: It's interesting.
32:10
[SPEAKER_01]: I don't think I would have expected this.
32:12
[SPEAKER_01]: I think that if you would have said that Citadel was investing in Kraken or Gemini or you know, or other places, I guess, well, maybe not those.
32:22
[SPEAKER_01]: I guess they could have been those, right?
32:24
[SPEAKER_01]: Public work private.
32:25
[SPEAKER_01]: If it's Kraken, Coinbase, Jeb and I Robin Hood, like, I would have been like, oh, that makes sense.
32:29
[SPEAKER_01]: Or even if it's in like circle or different players, I think I would have understood that a little bit more.
32:34
[SPEAKER_01]: But again, crypto dot com.
32:38
[SPEAKER_02]: We'll see a big sponsor and a lot of what was like I've seen it on the US and you have see what else has it been on and I don't know if any of you guys ever use the crypto dot com cards it all as well.
32:52
[SPEAKER_02]: Had an experience there.
32:53
[SPEAKER_03]: Yeah, well, crypto dot com arena is of course the arena.
33:00
[SPEAKER_03]: Yeah, no, they got they got a lot of money to buy.
33:02
[SPEAKER_03]: It's interesting.
33:03
[SPEAKER_03]: I mean, they they obviously have a book of business and again, I'm sorry.
33:09
[SPEAKER_03]: I just don't I don't fade can Griffith.
33:11
[SPEAKER_03]: It's just a rule of mine.
33:13
[SPEAKER_03]: I like that.
33:15
[SPEAKER_01]: Yeah, you're right.
33:15
[SPEAKER_01]: I mean, here's the thing.
33:17
[SPEAKER_01]: I'm just talking, radio head here, meant to stir the pot a little bit.
33:21
[SPEAKER_01]: Ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha
33:39
[SPEAKER_01]: I'm just your internet personality.
33:41
[SPEAKER_01]: I love talking about crypto.
33:42
[SPEAKER_01]: I play I devil's advocate and I like the stir the pot a little bit.
33:45
[SPEAKER_01]: But, you know, no, we like cryptid.com for sure.
33:49
[SPEAKER_01]: And, yeah, we'll have to watch how this plays out.
33:52
[SPEAKER_01]: I do like the idea, though, that they're coming in and they're saying, hey, we view now as the time to put money into this kind of thing.
33:59
[SPEAKER_01]: And I think that's a good sign.
34:01
[SPEAKER_01]: Again, they see long-term value.
34:03
[SPEAKER_01]: They wouldn't be coming in here and doing this and sending out when it be getting involved.
34:08
[SPEAKER_01]: if that wasn't the case.
34:09
[SPEAKER_01]: So I like that.
34:12
[SPEAKER_03]: He's not the only one that continues to build an invest Morgan Stanley rolling out the Bitcoin spot trading to E trade.
34:19
[SPEAKER_03]: That's officially live.
34:20
[SPEAKER_03]: And then they continue to build out.
34:22
[SPEAKER_03]: I have it on the sheet here.
34:23
[SPEAKER_03]: They continue to build out some S1s for their altcoin ETFs with Ethereum and Solana.
34:31
[SPEAKER_03]: And kind of just to remind the listeners,
34:37
[SPEAKER_03]: It's not a ton, so if they're kind of going through the motions and taking the time to apply and set these things up, this is the type of stuff again that they're not doing for six months for a year, one cycle, they're looking out and saying, hey, I think this is a part of the future, in my opinion, and they're going to be, they want to do this because they're going to start, you know, doing, hey, the one, two, three, four, five percent allocation to crypto for some of their clients, and they don't want to have to sell Larry
35:03
[SPEAKER_03]: ETF.
35:04
[SPEAKER_03]: They want to sell their own to their clients.
35:06
[SPEAKER_03]: So they continue to build the stuff out, which I think is a net positive long term.
35:10
[SPEAKER_03]: Hunter, what are your thoughts?
35:12
[SPEAKER_02]: Yeah, you know, and Brendan actually said this earlier this week, it's a competition like breeds innovation and it's something that I like so more competitors in the market also is just more vehicles actually provides more liquidity there's a reason why money has a ton of liquid or water terms currency banks liquidity because it always needs to be flowing and so the more vehicles are the more products.
35:39
[SPEAKER_02]: the more money's flowing, the more the market is liquid and efficient.
35:43
[SPEAKER_02]: I like this.
35:43
[SPEAKER_02]: So, you know, usually a, maybe a typical asset manager jumping into the ring, starting to sell their own product.
35:50
[SPEAKER_02]: I think that the same thing is like a Robin Hood building its own chain.
35:54
[SPEAKER_02]: You know, you're building on rails.
35:55
[SPEAKER_02]: You're trying to bring things in house.
35:57
[SPEAKER_02]: You have more control.
35:58
[SPEAKER_02]: Also, because there's a lot of fees.
35:59
[SPEAKER_02]: I mean, expense ratios are very low on a lot of these ETFs.
36:02
[SPEAKER_02]: But in scale, as you get really into dollars and these assets, I mean, that's going to be
36:08
[SPEAKER_02]: down the road.
36:09
[SPEAKER_02]: That means, you know, if they are able to gather market share, I mean, it's a very competitive business, but nonetheless, it just opens up more vehicles, more liquidity, and so I like it there.
36:18
[SPEAKER_03]: Brendan, anything that?
36:20
[SPEAKER_01]: No, not a ton else to add.
36:22
[SPEAKER_01]: I think Hunter hit Hunter and you hit it right on the head there.
36:27
[SPEAKER_01]: It makes sense that, you know, maybe they would want to get
36:31
[SPEAKER_01]: a little bit more involved, but no, no, no other thoughts for me.
36:34
[SPEAKER_03]: Very cool.
36:35
[SPEAKER_03]: Um, thank you.
36:36
[SPEAKER_03]: Let's talk about the Clarity Act.
36:38
[SPEAKER_03]: I'm seeing, uh, this is getting a sad part of the show that we've do every week with the Clarity Act.
36:43
[SPEAKER_02]: Yeah, yeah, the odds are starting to roll over.
36:45
[SPEAKER_02]: Yeah, they had something yesterday.
36:47
[SPEAKER_03]: Yeah, I saw it was like, okay, President Trump's going to go on the hill and meet and they're going to start talking about it, but there's just, you know, there's the clause that they want, you know, President Trump family not to be able to profit and crypto is going to get those Democrats across the line that they need.
37:02
[SPEAKER_03]: and it just doesn't just doesn't look like it's going to happen.
37:06
[SPEAKER_03]: I think the odds are now around 40%, so we're even under 50%.
37:10
[SPEAKER_03]: But there's people talking about it on the hill.
37:13
[SPEAKER_03]: They're trying to get it moved.
37:14
[SPEAKER_03]: I know that there's what the recess for a higher than the Senate coming up in August.
37:18
[SPEAKER_03]: So that was kind of the,
37:21
[SPEAKER_03]: not the final timeline forever but it was a maybe before the midterm elections this could be the the timeline so not looking good but there is conversations being had all keep a look out over the weekend for news um to see if there's anything uh you know new that comes out or anything worth talking about let's but let's finish
37:40
[SPEAKER_03]: on a positive note and this just came across hot off the wire thought this was really interesting number one that's crypto number two because it's a firm that we've had on the podcast before and number three fellas number three and my argument the most important it involves football football season around the corner if you close your eyes
38:04
[SPEAKER_03]: Take a deep breath.
38:05
[SPEAKER_03]: Mel that fresh cut grass on your full high school field is you get ready for two days and August the right around the corner training camp is right around the corner whether you're in high school D3D2 or D1 or the NFL but we're going to talk about D1 football here fellas.
38:21
[SPEAKER_03]: We're going to talk about crypto here fellas.
38:23
[SPEAKER_03]: How do I tie that together?
38:24
[SPEAKER_03]: Galaxy.
38:25
[SPEAKER_03]: Just announced the partnership where they are the official data center and digital asset partner of the Texas Tech Red Raiders.
38:34
[SPEAKER_03]: Come on.
38:35
[SPEAKER_03]: I love that Texas baby loving Texas Tech Red Raiders.
38:39
[SPEAKER_03]: The Red Raiders football is now the home of Galaxy Stadium.
38:45
[SPEAKER_03]: get those guys back on the podcast.
38:47
[SPEAKER_03]: Maybe we could get some tickets.
38:48
[SPEAKER_03]: I'd love to go down to Lubbock, Lubbock, Texas in the fall of the head coach.
38:54
[SPEAKER_03]: Yeah, and they're quarterback.
38:57
[SPEAKER_03]: He's a degenerate gambler.
38:58
[SPEAKER_03]: So I love it.
38:59
[SPEAKER_02]: It's like probably why.
39:00
[SPEAKER_02]: It's perfect.
39:02
[SPEAKER_03]: It's really, it's perfect.
39:04
[SPEAKER_03]: This is what, what a sponsorship.
39:06
[SPEAKER_03]: What a sponsorship.
39:06
[SPEAKER_01]: This is awesome.
39:07
[SPEAKER_01]: It's hilarious.
39:09
[SPEAKER_01]: I am curious, though, Tiva, maybe you can give me some insight, because this is more your world.
39:14
[SPEAKER_01]: How do they connect the dots to make this kind of thing happen?
39:17
[SPEAKER_01]: Like, what goes on at Galaxy?
39:19
[SPEAKER_01]: Where they're like, you know what we need to do?
39:21
[SPEAKER_01]: We need to go to Texas Tech.
39:23
[SPEAKER_01]: And we need to be their official digital assets and data center provider.
39:28
[SPEAKER_01]: Like,
39:29
[SPEAKER_01]: What goes through?
39:30
[SPEAKER_01]: How does that happen?
39:31
[SPEAKER_01]: That's just my question.
39:33
[SPEAKER_01]: I think it's awesome.
39:33
[SPEAKER_01]: By the way, if we have them back on, I'm going to give them kudos.
39:36
[SPEAKER_01]: I think it's really cool.
39:38
[SPEAKER_01]: I just want to know how does that thought get initiated.
39:42
[SPEAKER_03]: You know, yeah, I quit Google here as I was like, who on the board of directors went to Texas In terms of so quick and gold nothing nothing I'll do some research because I think this is so great.
39:58
[SPEAKER_03]: I just I love it.
40:01
[SPEAKER_03]: The quick Google says none of the board directors went to Texas Tech.
40:04
[SPEAKER_03]: I'll go see if there's anybody else.
40:06
[SPEAKER_03]: I think it's my thought was There's got to be some connection at the top of the sphere because all this money for Texas Tech is going NIL and anybody that follows You know college sports these days is college is turning to prose because of this NIL money.
40:20
[SPEAKER_03]: These deals are crazy So this naming right stadium is going to the school, but it's really probably going to the NIL fun
40:28
[SPEAKER_03]: tough to go and and hired really the athletes to go there.
40:32
[SPEAKER_03]: So I think because it's interesting that it says the digital assets portion, but also the data center portion.
40:37
[SPEAKER_03]: Obviously Texas, you know, the I think the average person that doesn't travel a lot or the average person around the world, but also the even the average American that doesn't necessarily get out and hit the road.
40:47
[SPEAKER_03]: Texas is a huge state, it's unbelievably big and there's so much undeveloped land that I think it's kind of a hotspot to be like, all right, we're going to go put a bunch of data centers there.
40:58
[SPEAKER_03]: So my guess is partnering with Texas Tech Partner with Galaxy, Texas Tech probably has a lot of land grants because, and I'm just doing this off the top of my head shout out to me, Texas Tech has a huge agriculture program to have a big agriculture program.
41:14
[SPEAKER_03]: You have to own a lot of land.
41:17
[SPEAKER_03]: Now, it's like, hey, maybe we cut the corn program or cut the lettuce program down a little bit.
41:23
[SPEAKER_03]: And you give that some a land to us.
41:25
[SPEAKER_03]: And we're going to write you a $700 million check.
41:28
[SPEAKER_03]: If you put our name on the stadium and give us some lands.
41:30
[SPEAKER_03]: So there might be a little bit of land deal going on here, or at least access to rights to buy the land even.
41:37
[SPEAKER_03]: And then, again, moving into the future, maybe they're building a data center, an AI school, a data center school, digital asset school.
41:45
[SPEAKER_03]: well there's there's there's there's a lot of interesting stuff where this type of partnership could go down and I always thought it was really interesting price put us on to this our fearless leader was galaxy is a digital assets firm and you want to do your research on that but they also are are in AI play they have all these data centers a lot of people don't know that and so
42:06
[SPEAKER_03]: it's an interesting it's one of my it's one of my stocks that I'm kind of like trying to do as much research as I can about all the things that maybe the average you know investor doesn't know about everything that they're involved with as well but uh guns up for Texas tech the red raiders
42:24
[SPEAKER_01]: Again, forgive my ignorance here.
42:25
[SPEAKER_01]: But has this ever happened where, not even a crypto company, but like a public traded company has bought the naming rights to a college stadium?
42:36
[SPEAKER_01]: That's a great question.
42:38
[SPEAKER_01]: I don't think so, at least not to my knowledge of like a major stadium, because they're usually named after someone of significance in relation to that school.
42:47
[SPEAKER_01]: Whether they be someone significant or a donor or a founder, like you look across the board,
42:53
[SPEAKER_01]: And that's usually what it is, at least in my experience.
42:58
[SPEAKER_01]: I have yet to see a publicly traded company get the naming rights to a college stadium.
43:03
[SPEAKER_03]: Yeah, just a quick Google.
43:04
[SPEAKER_03]: We've got Papa John Stadium for University of Louisville.
43:08
[SPEAKER_03]: We've got Crogress Stadium for Kentucky.
43:11
[SPEAKER_03]: OK.
43:14
[SPEAKER_03]: But not yeah, so I'm not not not a ton though because you're right.
43:17
[SPEAKER_03]: I was I was, you know, naming a bunch off of my head.
43:20
[SPEAKER_03]: What they're what they're going to start doing is like an Alabama Bryant Danny Stadium.
43:24
[SPEAKER_03]: Yeah at Nick Sabin field brought to you by.
43:28
[SPEAKER_03]: Oh, got you by the Citadel.
43:30
[SPEAKER_02]: That's the next step.
43:32
[SPEAKER_02]: That's the next step.
43:33
[SPEAKER_02]: Well, there actually is a Citadel school too.
43:35
[SPEAKER_02]: I'm sure the Citadel is going to go after Citadel and deep through the one double way.
43:39
[SPEAKER_03]: Yeah, well Ken Griffin might just buy it, like Ken Griffin might think it's cool.
43:43
[SPEAKER_03]: He's just going to buy it.
43:44
[SPEAKER_03]: I thought I had to buy it my bad.
43:46
[SPEAKER_03]: My bad.
43:46
[SPEAKER_03]: Yeah, friend of the show sponsored by Citadel.
43:49
[SPEAKER_02]: Yeah, friend of the show, Ken Griffin.
43:51
[SPEAKER_03]: Yeah, I think the, this is a fun.
43:54
[SPEAKER_03]: fun story obviously friends of the show truly galaxy they've been on um but yeah I'd love to get them back on and talk about this and see if we can get out to to love it for for a game get some ready to get some ready to action uh but that's gonna wrap us up for Friday getting everybody excited for uh football season as Brendan knows Hunter he I'm a huge you know.
44:15
[SPEAKER_03]: I'm a football guy.
44:16
[SPEAKER_03]: I bleed.
44:17
[SPEAKER_03]: I bleed football.
44:18
[SPEAKER_03]: I love it.
44:19
[SPEAKER_03]: It's a huge, huge part of my entire being is just getting to watch the guys put on the pads and hear that thud.
44:28
[SPEAKER_03]: It gets me, it gets me going.
44:29
[SPEAKER_03]: And so it's right around the corner.
44:30
[SPEAKER_03]: Love to see as we, as we end the show, love to see the cross section of digital assets, data centers and college football.
44:39
[SPEAKER_03]: But that's gonna do it for us.
44:40
[SPEAKER_03]: I really appreciate your time, Brendan.
44:42
[SPEAKER_03]: I really appreciate your time, Hunter.
44:43
[SPEAKER_03]: Thank you to everybody else who's listening on the live.
44:45
[SPEAKER_03]: I'll show you today, appreciate it on Friday morning.
44:47
[SPEAKER_03]: Give us a thumbs up.
44:48
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44:51
[SPEAKER_03]: We have a ton of great interviews that went out this week.
44:55
[SPEAKER_03]: Coinbase.
44:56
[SPEAKER_03]: Robin Hood, go back and listen to those if you have it.
44:58
[SPEAKER_03]: There's huge, huge alpha there.
45:00
[SPEAKER_03]: Brendan and Bryce crushed those interviews.
45:01
[SPEAKER_03]: You have to go back and listen to those next week.
45:04
[SPEAKER_03]: Bryce and I are heading to a conference outside of New York City at the out-east conference presented by the tie.
45:10
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45:17
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45:18
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45:19
[SPEAKER_03]: Thank you all for tuning in on a Friday morning.
45:22
[SPEAKER_03]: But that's all for now.
45:22
[SPEAKER_03]: Bye, everybody.