Yo-yo, yo what up? What up?
Good morning. Good morning GMG.
Oh yeah. Why 16/20/20 Look at that.
Another beautiful day to have a beautiful day.
I got my Co host in the house, Tyler Mando.
How you guys doing today? I'm doing great man.
How are you? I am fantastic.
You know you don't want that. What's one thing Mount Gox can't
sell? It's solanos and meme coins.
What's up Tyler, how you doing? I'm good.
So tornadoes ripped through downtown Chicago last night.
This is very rare for us. We don't really get tornadoes
downtown. Yeah, it's like 10:00 last
night. We we heard, like, loud rumbling
on our roof. Like one of our children's like
tables blew off our roof last night's hanging in a hanging
from a tree on the sidewalk by our condo right now.
But everything's good, just some trees down, everyone's safe.
So some recovery here this morning and some green on the
board helped recover a little bit as well.
OK, OK. Well, listen, I had never heard
of, of, of tornadoes in Chicago, but you guys have a very Windy
City, so I'm also not surprised. Like Chicago's windy AF.
Y'all have been to Chicago in the winter?
Oh my God, it's cold. Oh my God, I, I did a school
trip once in Chicago when I was a kid, but it was in the summer.
It was way too hot. I went to Bubba Gump.
Bubba Bubba Buba Gump. Is that what it's called?
And then you have to come back. It's nice.
It's nice this time of year, usually when when there's not
tornadoes. Yeah, yeah, yeah, yeah.
Please, please keep me away. Keep me from from tornadoes.
Chicago's a city I, I personally love.
I find a lot of fun. Anyways, Mondo, mondo.
How's your house, France? How's the South of France?
It's good, man. It's good.
Good. Nice view ahead of me.
Pretty chills. Pretty chills.
I can see it in your reflections.
Got the nice sea. Yeah, I like that.
I like that you don't want to share the view with us.
You don't want to like, sit the other way around so we can like,
enjoy the sea while we talk. Tomorrow, tomorrow I will.
I actually spent I spent the morning putting up a paddling
pool for my daughter so. There's a.
Paddling pool on the other side. I love that.
That is so cute.
Well, anyways, today was the show today, today.
Listen, the week started off strong.
The Bulls were definitely back in town with a special, a
classic special with OV yesterday.
OV was coming back on Friday. So Tyler, don't worry, he didn't
miss anything because he'll be back on Friday.
Definitely. You know, you know, the bull
markets back when over. He's like flew like, OK, I want
to host it. I'm getting back and break.
He's got he's got a kid. He's over it.
He's been a week old. He's been a father for a week.
And I was like, OK, I got to get back.
I got to get back on on Twitter spaces, man.
Anyway, so now the show today, today market report as usual.
So let's see, let's see what the market brings us this morning
with a tiny, tiny bit of a cool off, but it's looking great.
None the least across the board. You absolutely love to see it.
Definitely curious to talk about Mount Gox and all the things
going up and and what not. And then of course, as usual,
Tyler's top 100. Tyler was here yesterday, so I'm
assuming that he has like top 600 this morning.
He must, he must have a lot, a lot of tops, that's for sure.
Oh, we got a little bit of yeah, we're good.
And so I'm sure Tyler has a lot to talk about this morning.
So without further ado, Oh, wait one second.
And of course we're Tuesday. It is Robit Tuesday, so two
people will be selected at the end of the show to come on the
show live. If you're live, you got to
follow all of us, all three of us plus from one plus rug,
because that way we not sorry, all three of us plus from one
plus robit, and then we'll pick two people.
I got a nice selections of NFTS for y'all and there today I
mixed it up four different levels of win, so it'll be fun.
So without further ado, why don't we get right into it?
Who is the man that called Daddy of the land?
Can you dig it? Yeah, GM everyone.
So we have kind of held yesterday's levels.
We were kind of around this level yesterday when we went
live. We we we did go all the way up
to around 160 on Solano about 65 K on on Bitcoin and just above
3000 well nearly 3500 actually on the and then Mount Cox came
and and slightly spoiled the party.
So they transferred around 6 billion of Bitcoin this morning
and this does look like we are now approaching repayments time.
So cracking notably emailed a number of of of their users that
they were going to start making repayments in Bitcoin.
So we are now probably sitting here in the next 17 to 14 days
to see repayments from cracking and I imagine many of the other
affected users will also be getting their money back over
the next few weeks. The total amount here is is over
10 billion. So it's a decent amount,
although people are expecting it to be perhaps even less cell
pressure than than than when the German government sold theirs.
So people are expecting something like 25 to 40% of this
to be sold, probably on the lower end of that just because
of the big tax implications and also because people might just
choose to hold it. So they're not expected to be as
violent and and to be far less than the the headline figure.
So personally, I, I kind of feel like now after this is done, you
can get pretty bullish on, on supply coming to market.
You still have the, the US government that has a decent
amount from various, but I feel as though the US government,
particularly with Trump's comments, might be veering
towards keeping that, you know, you, you don't just randomly
sell over 10 billion worth of Bitcoin if you want to keep it
as a reserve asset. So I think you can get pretty
bullish, particularly because the FDX is coming in the
second-half hopefully of this year that we we haven't really
got anything to be scared about about somebody dumping like
nothing crazy after this amount, Cox amount has gone this, this,
this amount. Cox amount has been spoken about
since I first got into crypto and probably well before then
like it's definitely been something that people have been
together out for a long time. So now that this is in the back
or could, could be in the rear view mirror very, very soon, I
think people are starting to get very bullish.
So we saw a general rally with a bit of a dip on the back of
that. But my honest view is that if
you're waiting for another 60K retest on Bitcoin, it doesn't
look like we're going to get it. I think I think we're going to,
it looks like we're going to power even higher.
Looks like stocks are opening up slightly higher.
Again. There was some bullish comments
or dovish comments at least from Jerome Powell yesterday, again
indicating that we're going to see rate cuts.
It's now approaching 90% probability that we're going to
get a rate cut in September. So very, very high probability.
You've seen actually the rates, market rates have come down a
lot over the last few, over the last few sessions, 10 years now
down to 4.2%. Dow is up.
Yeah, Dow is up 500 points again today.
So stocks are fully stonking right now I.
Love that. In particular, this is moving
away from just tech into a bit of a broad based rally.
The Russell's also up about 2%, which is kind of small stocks.
So people are getting very, very bullish.
I think part of that is 100% expectation now or a very, very
high expectation that Trump will will win.
And, and generally that's, that was meant to be a bullish sign
for the stock market at least, but also just a, a reduction in
rates being priced in kind of globally.
Inflation's coming down quite a lot.
Employment, unemployment's had to pick up.
It's it's time to look pretty rosy in terms of macro picture
at least. So yeah, bullish across the
board. Interestingly, in terms of
sectors, yesterday we spoke about the fact there had been a
bit of a pain trade for the last month in meme coins versus alt
coins. Yesterday you definitely saw
meme coins pack pick back up so and some of the ones that have
been beaten up so with Pepe all had big moves, big catch up
moves. So so all of the top movies
really in the top 300 were meme coins again, which has been has
been lacking for for for a while now.
So it'll be interesting interesting to see that if we do
continue to see a rally in in Bitcoin here.
If if that continues. I think the one that probably
surprised people the most yesterday was with just because
it looked and had been under volume for so long.
You had strong moves in Popcat and Mug.
Aggressive bro that popcat coin is fucking crazy dude.
I don't have just. It's both insane to watch.
Look at that. Yeah, yeah, it actually flipped
mug yesterday. Yeah, it did.
I think it's still higher in the mug right now.
Yeah, So in the cat coins, so cat coins doing kind of coming
off and interestingly Pepe and we've definitely looked the
strongest of the two this morning in terms of major, major
meme points. Yeah, I mean, Solana's looking
good. And if anything, we've showed us
that it's just somewhat of a beta, right?
That's how we tweet that. But it's it's true, man.
It's it came back pretty, pretty strongly.
And you'll have to see it because there's a lot of bag
holders and memes, right? There were a lot of community
members. I'm a professional community
member, by the way, y'all. So I mean, I definitely talk
about myself when I say things like that.
So so it was good. It felt like a good rally
yesterday. The energy was electric.
Let me tell you that. And a lot of people flip
flopping. You know, I saw one of my
favorite tweets from yesterday. I I have to bring it up guys, is
Mike. Oh, man, I love Mike Dudas.
He cracks me up, dude. So Mike Dudas yesterday he
posted this. Did you guys see this?
Hello. Oh, fuck, Mike, You tweet a lot,
dude. You're a proper boomer a lot.
And they bought a new pair of Andrew Kanks.
That's a brutal mugging right there, posting a pair of flip
flops. One thing I noticed, Mando and I
know we talked about it yesterday with OV and OV
literally came on the show specifically only to shit on
people yesterday, which was hilarious.
I feel like he wanted to let off his chest and I think it was
deserved. You know, they've all come back
now to say all the like people that flipped bearish were
completely just like, hey, I think we're going to go down
before we go up. Like they were not like bull
like they were not calling for a pullback in the bull market.
They fully flipped bearish, right, which is different or not
coming back, flip flopping all the big traders saying I was
right, my move happened. We went from 71570 three 74 to
55. I was right, I was right.
No, you were not right. You were wrong.
You called for a bearish bear market and we just had a
pullback and you were bearish at the lows of the range, right?
She said. Story of Zoran, didn't you?
Like didn't you a a host name like 3 weeks ago?
Did you hear that? That's crazy.
What's the story? Sorry I.
Mean so did you do you remember when he flipped long and then we
we, we dumped? Yeah.
OK, well it's here. Here, I'll show you.
So it turns out he flipped Bear at 55.
So he flipped long and then we dumped, and then he flipped
short and then we pumped. Yeah, so is.
That true? Yeah, yeah, yeah.
And and is. That actually true?
I mean he, he, he, he, he trades publicly.
Wow, look, that's a classic case.
That's a very good tweet there is that you can feel so euphoric
as a even as a bull right in, in many, in many different ways.
If you're a short term trader, you actually have to time 4
trades really right. You need to, you need to time
the flip to a contrarian trade, Then you need to trade the the
trade out of that. Then you need to trade, get the
trade going back into the trade the opposite direction.
So let's say you've gone short, you don't have to trade going
back long at the bottom and then you have to trade the exit of
that at the top. So you've instead of just having
no trades and just holding and seeing Bitcoin go from 71K now
to 74 K, literally a move of 10%, probably going to be closer
to like 5% by the end of this week.
You ended up having to do a balancing act across potentially
4 trades, get in and out of that.
And I think that does that's a perfect example that you can be
the best trader and get one of those four trades wrong.
If, if you, if you get any of those trades wrong, you get
screwed and you could be left, You can be left either
underexposed or liquidated or completely the wrong direction
and just holding on to a bad trade.
So I think it's, I think that just that just proves that for
the vast majority of traders on here, you're not well, traders
like you're not, you're not traders.
And I, I trade markets, right? I can tell you confidently that
crypto is the hardest fucking market to trade.
And it's not the violent swings. It's well, I guess part of it is
the violent swings. It's that you have to be at your
desk at all moments. Like there is.
If you miss the moment where it breaks through, like if you miss
the Trump headline, there's kind of no coming back to it.
Like it can. Then the momentum can be so high
that all the games can happen within hours.
And if you're asleep or if you're just like not there, you
know, you're just hanging out, you're having lunch, you're like
whatever, like you just miss the whole setup of the trade.
So my my view on it is that you have to have incredible focus to
be a short term trader in crypto.
And, and people who are claiming that they can do it
consistently, I think they basically need to be strapped to
their desperate times. You can do it.
And I'm not saying like there are definitely times you can
pick your spots if the markets tanking or absolutely roofing
and it looks like, you know, RSI has gone through the roof or get
absolutely smashed lower. There's been a big liquidation
on either side like you can, you can pick your spots, but to say
that you're going to to do that all the time and be a good
trader and be a trend follower in particular, which I think is
one of the key things to be in crypto, I think is very, very
difficult to do because. Yup, Yup, Yup, Yup.
It definitely is. Anyways, that's a good round up.
I mean, Tyler, I don't know if you have any thoughts on the
market right now. You can't.
Yesterday was was was was quite a great day.
How you feeling right now? Feeling good.
I think I always talked about TA, right?
Like TA works until it doesn't. It's just you you miss just you
can't miss the updates and Mcmander just just mentioned
that. But like these things move so
fast off the bottom that if you're long term bullish, you
just don't understand trying to to catch down swings to
potentially accumulate a a bit more.
That's never really made any sense to me.
And and we've seen it now like what the memes are up.
What's up 4050% off the local bottom 50%?
That's too high, but it's up a solid 30 to 40% of Bitcoin's up
1015%. Saw is up more.
If you took a long weekend, if you're on holiday this past
weekend, you just missed that entire that entire move now and
you're scrambling. We saw some capitulation back
in, which I think explains it. I do think of course like the
the Trump thing could not have been predicted, but this is an
unpredictable market. And I do believe that the bottom
is in now and we there are more bullish catalysts ahead than
than than ever. And the set up looks fantastic.
And now even starting to wonder like is the summer of chop like
do we still think that's the most likely outcome or or do we
start kind of grinding higher here?
And one thing we haven't talked about, ETTFS are coming back.
Yeah, I mean, the big news came out yesterday, right, that they
were coming out Tuesday. Then everybody got excited like,
oh, it's today. Then they had to DB news had to
to repo saying update, update next Tuesday, Tuesday on July
23rd. So we got an official date for
the ETTFSI mean this is exciting.
It's very exciting. We talked a bit about DTTFS
yesterday, but obviously we didn't have the news.
ETH trading at $3400 right now, so not so bad.
It's going to be next week is going to be a very, very, very
excited week. Nick Jurassi, he was right,
right. He called yesterday.
He went on the record said no, it's going to be happy ETF
approval week. So there we're we're getting
we're getting ready to go for for next week.
And and honestly, it's, it's some exciting times to add to
being a witch. Tyler, let's see what you got
for us today. Four daily NFT and crypto
analysis Tyler did on FOMO our 'cause the.
Kid can't, right? Crypto majors rallied into
yesterday into the evening, then dipped overnight after the Mount
Cox movement. They've since recovered a bit.
We have Eric Balkunis saying the ETFs are set to launch next
Tuesday, July 23rd. ETH is at 3420 here this
morning. Larry Fink, he went on CNBC
yesterday. He laid out the bull case for
crypto. He went on to call Bitcoin
digital gold in a series of bullish comments.
We also stripe. They've expanded their crypto
offerings into the EU, allowing users to buy Bitcoin each stolen
more using credit or debit cards.
In politics, Trump he has announced JD Vance as his vice
presidential candidate. Vance seen as crypto friendly.
He is a Bitcoin owner himself. CT has been celebrating this
appointment as have others, but JD Vance memes though they were
not celebrating most were nuking almost immediately after the
results. So you you got to be careful in
that the Poly 5. Streets.
Eight out for. Being right over there, you get
dumped on. Yeah, we'll have to get into
that. In other mean coin news, we did
see the leaders rally a solid 20 to 30% led by Pepe whip Popcat
Forbes listed with as the top mean performer of 2024.
So big call out there. Ordinals NFTS over on Bitcoin,
they're up 10 to 15%. Along with this Bitcoin move,
you'd love to see that Snow fro announced the Squiggles farewell
contract, allowing users to sign the farewell relic as squiggle
number 9999 is minted to LACMA. You can take part by ascending
ETH to this contract. That ETH will be refunded and
then some Ape Yuga news last night Ape Coin announced its
test net Curtis comes today in a bit of a surprise move.
So that ape net, ape chain, it seems like it is, is coming.
Wasn't that nice? I mean, we knew about the ape
stuff, right? And the Arbitron vote, I mean,
we had Steven come on the show, but it's true.
It's not like we knew exactly when or what.
Yeah, the the date we knew it was.
We knew it has been coming. We didn't know the date.
Apparently I missed the details, but apparently there's been some
drama with Garga made by AIDS. I did.
Not miss a piece of that, bro I I'll bring it up for you.
There's there was some there. It was AI thought we didn't
fight when the price was up, but I found one fight on the
timeline and and it was something we'll bring it up.
But first I want to go back to the to the JD van stuff you're
talking about because there's a 2 minute video.
Let me see if it OK works because it hasn't been working
lately. But I do want to play this video
guys. It's really good.
And and it's it's JD Vance who's, you know, the, the, you
know, running VP with, with Donald Trump talking.
I don't know when this was exactly, but talking about
blockchain technology and its importance and how he disagrees
with Gary Gensler on on his approach to running the SEC with
regards to crypto. Have you guys seen that clip?
I have. Yeah, it's it's really good.
Hold on, let me just play it for everyone.
If there's a candidate for worst person, in my view, at least in
terms of my substance, you know, disagreements, I'm sure he's
like a nice guy. Is Gary Ginsler.
OK, so Gary Ginsler is sort of the complete opposite of my
view. And there are two problems that
I have with Gary, one of which is that I think he wants to
inject politics way too much into the actual business of
securities in the United States of America.
But in some ways, the more fundamental issue, or at least
the most relevant issue for this particular conference is the
approach that Gary has taken to regulating blockchain and crypto
seems to be almost the exact opposite of what it should be.
You know, and I'm oversimplifying a little bit,
but the question the SEC seems to ask in regulating crypto is,
is this a token with utility? And if it's a question, if it's
a token with utility, then they seem to want to ban it.
And if it's token without utility, they don't seem to
care. I almost think we should be the
opposite here, right? I worry about financialization.
I worry about, frankly, whether a lot of the crypto stuff is
fundamentally fake. But if a token actually has
utility, that's the sort of thing that, you know, by all
means regulate it. By all means be careful about,
you know, how consumers interact with it, but you don't want to
just get rid of this stuff. And here's where I really,
really worry about this is a lot of the newest challengers to
social media, the social media incumbents of 2024 are going to
require some blockchain technology to make their, to
make their business work. Maybe they'll require a, a, a, a
token that supports verification.
There are all of these ways in which the companies, when I talk
to sort of friends who are still in the VC industry, the
companies that are most exciting to them, they're doing actual
things in communications in the 21st century, in 2024, I should
say, those companies very often rely on high utility tokens to
do things like verification. Well, if we're not making it
possible to do verification, then we're going to make it
really hard to challenge the existing incumbents in the
space. So anyways, that was a clip I
wanted to play the whole thing because the whole 2 minutes is
really good, right? He starts with talking about
Gary Gensler, but also talks about he's not just like saying
Oh yeah he's bad. He's explaining why his approach
is wrong. And I really like how he
explains how for me, like coming from a social media background,
mostly, he's like, he's like the future of social media and
platforms may require tokenization and
decentralization and blockchain technology, right?
And he's right. And he said, and, and I just
love how he, how he, how he, how he explains this.
I, I wasn't familiar with him. I'm not, I don't really follow
that stuff. But what do you guys think?
Ty? What do you, what do you make of
this clip? I thought it was this is one of
the best clips to come out in a while.
And then there's also the other clip I'm going to play the whole
thing, which was, you know, Larry Fink calling Bitcoin
digital gold. But for me, it was mostly the
the band for band, you know, Michael Dell posting it for me.
Everybody and their mothers posted it, but Michael Dell
posting it saying fascinating hashtag Bitcoin to me was the
was the bigger news out of even him saying that.
But what do you make of that JD Vance clip, Tyler?
Yeah, I mean, JD Vance, he he's young, he's smart, he's well
spoken. I think from the the single
issue of crypto, I think this is arguably the best outcome if
that is what you are most focused on.
You know, he is a Bitcoin owner. He seems to, you know, he
understands that the nuances of the space perhaps it's bad for
meme coins. You know, based on, on what he
said, he's going to, he's a utility coin maxi.
So we, we will see what he ends up going after CT celebrated the
move. It's a little bit more
complicated with respect to, to other issues.
We can save that, you know, for, for a different show.
He is somewhat far right. He's backed by Peter Thiel.
Elon Musk praised the nomination as well.
I mean, Elon announced essentially he's, he's going to
start donating $45,000,000 a month to that's crazy.
Just. This super PAC thing.
So yeah, it looks like, I mean, I saw some impact to the popular
vote market. It has not impacted the election
market. So, so I mean, the VP choice was
never really after the events this past weekend, the VP choice
wasn't really going to impact the the election for the most
part. It seems like it's still pretty
much unaffected. But I think from a crypto lens,
there's reasons to be happy about.
That I just really appreciate when a politician can speak
about blockchain tech and cryptocurrency outside of just
the pomp and dump Poncinomics type of thing.
Like I guess what I like, man, what do you think about that?
I know you also sent me a link of the Chevron Supreme Court
ruling, etcetera. So it's all like, it's all
looking really good. I have to say I really like this
case. I'm a big fan.
I think he comes across incredibly smart.
I've I've, I spent yesterday looking through a bunch of
different speeches that he's made.
He's very well spoken. His background was seemingly in
the Marine Corps and then he went to Yale and then worked in
VC in an incredibly successful Peter Thiel backed fund and then
also had a best selling book like this.
This guy is actually I like them.
That being said, the reason why I think it's more more relevant
now is, is there was a ruling about two or three weeks ago
from the Supreme Court where they overturned the Chevron
ruling for about 40 years ago. And people are saying that this
is this is really going to change the game for the SEC.
So it basically stops the SE CS ability to go off to crypto the
whole, the whole the whole way that the the SEC has been
regulating so far as regulation by enforcement.
And it is basically saying that now the SEC cannot do that
unless Congress has given it strict rules on crypto.
It basically puts the power on politicians rather than the SEC.
So when you see someone like this coming to power, coming to,
well, potentially into power, who has a pretty strong view on
crypto. And, you know, we've seen crypto
is is becoming more of an issue in this election is becoming an
issue in many Senate races and in many house races.
I think this is important that we're, we're now going to see a
movement away from crypto, even having to care about Gary
Gensler to now looking to politicians to set mindful
regulation around this. And when you see someone like
that who clearly understands the space, I think it's, it's, it
makes you feel quite bullish. You know, like we've, we have,
we have some people in the US houses who are clearly, you
know, still boomers, They don't really understand what's going
on. But when you see, you know, a 39
year old going in there and and clearly understanding what's
going on and probably could set a policy agenda even for
something like this, I think that that's very important.
Yeah, no, I, I, I agree with you.
Look, I, I rather politicians actually like, speak of
something like with knowledge and if not, just don't speak
about it at all. So I just want to point that
out. I thought it was a I thought it
was a good clip to to explain what's going on.
I love that he used social media as an example.
Talk about how there's there's going to be a need for
tokenization in certain areas and if there's a certain utility
to token, then why would you, you know, label as security
right away? But anyways, the other the other
clip of the day, obviously not going to play at all.
But Tyler, I think you mentioned it in your round up today as
well. Was this one right?
So BlackRock, Larry Fick, Larry Fick.
Gotta gotta love it out there. I watched the whole thing
personally, of course, but I just, I just love the the way he
explained Bitcoin again. Like, we, we have some really
good chillers out there now. Oh, yeah.
We don't even need to do any work anymore.
We, we might as well, you know, we might as well just hang out
for the rest of the cycle. You know, the way he describes
Bitcoin on national television made me want to Make Love to
Bitcoin. Hey, what do you what was your
take away from this? Yeah.
No, this was the most important news of yesterday, and yesterday
was a pretty big Newsday. Yeah, I think arguably the the
most important part of the the interview was the beginning
where he said he was a skeptic and he calls a proud skeptic
five years ago. And then he he studied crypto
and he changed his mind. And he goes on to lay out his
bull case. And I can just replay it here
briefly. So Bitcoin is a legitimate
financial instrument, although it does have its misuses as its
everything it can provide uncorrelated returns to
traditional markets. It's a hedge against currency
debasement and inflation, and it's an alternative to optimism.
I think the last point up for for more debate there.
He goes on to call Bitcoin digital gold, which I also think
it is a huge signal just that the selling point and
understanding what digital gold is for for Bitcoin.
I think that's the that's the only tagline you need.
And, and here we have Larry Fink.
He is 72 years old. He's a billionaire, He runs $9
trillion BlackRock and he's saying, hey, I've changed my
mind on this. I don't know the signal gets any
stronger. And like I've had my, my fair
share of conversations with investment managers over the
past few years. They are all notoriously anti
crypto. They don't even want to talk
about it. I'm not even allowed to to talk
about. It I have a lot of friends in
this, in this industry that are not like top of the funnel, like
investment managers that can lose their jobs if the, the,
their bosses find out about their CT accounts and they're
not people with a lot of followers.
I think that's all going to change.
I think there's a good chance it all changes very soon by the end
of this year. And and now you've got the
talking points like you don't know the sales pitch for crypto.
Just watch this two-minute video the the sales pitch.
Just go tell your clients like you don't have to do any
homework it it's incredibly easy.
On the video. You know what's crazy?
And, and Ovi pointed out yesterday on a tweet, BlackRock
manages assets. It's three times the market cap
of crypto as a whole, maybe more. 3 1/2 like they have what,
1010 trill? 10 trillion, yeah.
Yeah, it's like 4X, right? Like crypto's around like 2 1/2.
It's been hovering around there for a minute now.
It's around two point. What's 2.34?
Sorry, F $2.34 trillion total market cap of all
cryptocurrencies, including Bitcoin.
So that was a good point. That is a great video for those
of you who have not seen it, we've all shared it, but you can
just search on X like you know, Larry Fink Bitcoin, It's a very,
very good clip explaining his vision.
And you're right. I love it when someone starts
with I was a skeptic, but I've turned around and even Kramer,
which I don't know if that's bullish or bearish.
She was like, you know what, you got me.
He was like agree. They were fully agreeing with
him. Like they were full, like he got
it, he got it. And on the back of that one
thing I find interesting that I kind of wanted to bring up.
I don't think I see this Japanese company, a publicly
traded company yesterday that I announced acquisition of
Bitcoin. They bought 2 million.
It's yen, right? Yeah.
Two ¥200,000,000 of Bitcoin. Now, look, that's not a lot of
Bitcoin in terms of like how much money it is 'cause I think
¥200,000,000 is like $1 million. Yeah.
What like the fact that Japanese public traded companies are not
buying Bitcoin for their balance sheets.
What happens when the S&P 500 companies, what happens when the
biggest companies in the UK Stock Exchange, I don't know,
Canada, France, all around the world, like start buying Bitcoin
for the balance sheets. Is that a possibility?
I think it is. What do we think of that?
Like, you know, they don't need, they don't need, yes.
I think they will like this. It's this company, Mataplanet.
We just kept on doing it. But I agree with you that we
will see. We will because of the changes
in the US accounting regulation. We will.
We will definitely hear about more and more companies buying
Bitcoin over the next year, big companies.
Yeah, I mean, we had even in Japan, like we had Sony, right,
acquire a whole ass exchange, like what was it last week?
But I thought it was cool. I mean, what do you think of
this, Tyler? I think I thought that was some
fun. Like, look, not market moving
news, but it's good. This is more signal right there.
There's this more and more growing signal of this, this
kind of adoption of this kind of buying.
I, I agree we're, we'll see more companies doing it and it's just
getting easier than ever to, to explain it because you've got
some of the most successful, you know, investors and, and fund
managers in the world talking about it now on a near daily
basis. I think what, what's interesting
is that I feel like that conversation, he, he's using the
terms crypto. It felt more Bitcoin specific
kind of coming back to, to Larry Fink.
What's gonna be interesting is if and when they turn on the
Ethereum talking points, right? So, so like we, we know the ETFs
are coming, they'll have their own ETFs that that is a more
complicated story to tell. So we, we will see like how they
craft that narrative. And I think, you know, we all
understand like this tokenization narrative, like we
talk about it every day. We thought this very closely.
I think it's a little bit harder perhaps for someone who is
adding arm's length to all this to understand that.
So I am, I'm curious how you know Larry and others will like
what the sales pitch will be? Let's see how the greatest
marketing campaign in the history of a theorem goes.
But it's funny, it's like when the ETFs got approved back in
January, I think we we started talking about this like you,
you're going to start to see the marketing, you're going to start
to see the sales pitches. And that was kind of speculation
at that point in time, like we didn't have evidence that that
was coming. And, and now like it is right.
Like you, you, you see later coming on these on CNBC, it
feels like somewhat regularly at this point talking about it like
we're just going to see more of that, right?
And then it's going to be ETH next.
And maybe Solana right in 2025 like if those ETFs are are a
real thing, so it has to be good.
I don't know the political climate, but hey, like I, I
always refer back to actually a beanie tweet.
He was like, there's a breakfast ETF on the market, which is a,
a, a, a, a basket of all, like the, the, the stuff you used to
make breakfast, like flour, like you know, all the ingredients
and you can, the commodities, right, that are breakfast
ingredients. So why wouldn't it be a basket
of cryptocurrencies? Yeah, it's a great example I
find. And and it's great.
PLA Mando living his best life. He's living, bro.
He's definitely living. I love that.
I absolutely love that.
You know what though? It goes back to March, right?
Larry Fink's vision, ETFs and the tokenization of financial
assets. Those who believe in
tokenization feel it has the potential to revolutionize
traditional financial markets by making assets more accessible,
efficient, transparent. So it looks like this is the
angle they're going to approach now, but see how they use it
because Bitcoin is easy digital gold, right?
ETH is a little more complicated to explain, OK, tokenization,
but explain to me what that means and why it's good for me,
the person on the other side that's not in crypto.
So it'll be interesting. In other news, nothing to do
with any of this, Tyler is something that you brought up 8
chain ape chain. So, so so run me through this.
What's what's the latest? We got a gargle post last night.
I looked into it and we got a little bit of beef.
It got heated in there. It got heated in there.
But what? What's your What's your read
here? Yeah, I, I don't know that we
have a whole lot of additional information on on what Curtis,
you know Curtis is coming later today.
So I'm expecting more details on the announcement here, here
forthcoming. But it seems like the the the
timeline quickly moved off of this and into this made by apes
fiasco. Yeah, or, or whatever you want
to call it that that Gargo was also involved.
And I think it it of course it it, it re upped the debate of
like, why do we need an L2 for, for all these individuals?
I don't think it's an L2, right 'cause it's on.
If it's on Arbitrum, it's probably L3I mean, not that it's
the I mean I get it, but I mean if it's powered by Arbitrum,
which it is because even yesterday Stephen, the founder
of Arbitrum, posted like a a graphic of all the people
building on ARB and anime and a coin were on there.
So I don't think that's what it is, but it got it got rowdy in
there. It definitely got rowdy.
Where was it? Fuck, dude, I I can't find it,
but maybe it's not there anymore.
It definitely got rowdy. And and just in the replies I
was a. Little bit confused like some So
some guy got fired? No.
Do we want to get into explaining that?
The only thing I saw was that several of of the that gargon in
an argument with one of them made by apes.
I can't find the maybe on the team.
That all but one of the companies that were in made by
apes were taken off of the website.
It's a guy who founded Sassy Labs that did Made by Apes
Mando. Yeah, yeah, yeah, yeah, yeah.
I think he listens to his show as well.
And. And so.
Oh, there it is. It's on the this post about
Brian Pellegrino talking about attending events and then Garga
talking about it was a different post and yeah, it was somewhere
there. I mean, it's it's a lot.
It's a lot. It was this tweet.
There it is. It was this one that was the
tweet that was shared. Garga going.
I got a healthy family of puppy and all my biggest haters
literally live in houses they wouldn't have if it wasn't for
BYC. Even Polly would still be broke
a little bitch. I sleep comfy.
It's not me saying it. We'll come beefing with me.
I got no beefs. I got no option that.
That was just sent out as like, not as a response.
Yeah, it was as a response to the reply, this guy who was
saying hey, how do you this were graceful and humble towards
foundry founders in the space. So it was like a positive
comment he was replying to, right?
Right, right. And then that's what he said.
And then Richie Rich. So it's Richie, right?
You've probably seen him on the timeline, he said.
I don't know bro. He was an ape.
He was an ape yeah, I remember he had the pimp coat, but he
found it to his the like no, there's the vessel he found it.
So he found his sassy labs, which was doing the powering the
tech behind me by apes for a moment, right, the franchise
model, right to create a brand. And then and and if I explain
that poorly, I'm sorry, I don't I don't know it pinpoint.
But point being, he created this tool and then they had a falling
fall off because there was a leak in the customer
information. And it seems like this is a
fight about who whose fault it was.
You know, Gaga pinpointing towards his company, you know,
his company's failure, therefore a leak and then him pointing out
towards Gaga saying, no, it was your employees that mismanaged
the customer information. So that's what the beef is
about. But it's just a lot of big words
being thrown around on both sides.
And so. And so I don't know, I don't
even know, maybe you guys on the Sassy Labs cap table, maybe
they're not. It seems like there's a lot.
There's probably more than me and then Gaga sharing this
tweet, this screenshot from last year.
I don't know. There's a lot of personal stuff,
dirty laundry being aired out here between the two, right?
You know what I mean? So that's my read, Tyler.
Unfortunate. Timing, unfortunately.
As we were like, it felt like sentiment had maybe bottoms and
then maybe we were starting to to kind of rally, you know,
around some of the NFT leaders. And now it's like that.
That's not an ecosystem. Like I want to jump at first
into like if I'm just being totally honest.
Yeah, I mean, what are what are apes at right now?
What are? Like 9.5. 9.5 yeah. 95 Yeah,
here. 95 What are pudgies at 10-5 Melody's 5 Hunga.
There's still a polymarket bet on Will Milady's Flip Board Apes
in 2024. I'm gonna see if I can find
this. Is there?
I was just looking at it this morning.
Yeah, I can find it for you. Yeah, Milady.
Oh, there it is, 4046% chance feels. 46% chance it's.
Just 100% move. It's less than it's a 40% move,
right? Yeah.
So they're at 5.1, so 5. .1 sorry, this is, this is half
it's way more. So it's like a 80% move, right?
Yeah. I don't know do you think that
man? What do you think?
But but milady flip saves this 2024.
Could happen milady feel really strong, right?
What do you think, Tyler? I wouldn't bet it.
Really. I mean dude.
They're they're at 5 Like why aren't they higher than five?
Like, I mean, you get another astronomical run on MIM coins
and you get like the mogs of this world and Pepe and
everything up to like billions and then you'll have like
malaria, like 28th in my opinion.
I think the problem with with milady's is that so so many of
them are so coin centric that like if if the NFT is worth too
much they'll they'll just sell it to to trade tokens with.
Yeah, we'll see. We'll see.
I I've had mine since like 2-3
eats and I love it. So I, I, this shit is I, I just,
I, I like them. I can.
Understand that. In 2024, I mean, it all depend
on what happens with this test net and the ape stuff.
But the ape coin Ape coin did not move one bit on that news,
right? That's a hard that's a hard coin
to to. Move.
They moved 3.9% in 24 hours. So I don't know.
I don't know. We'll see.
I don't know it's it it didn't move.
So we'll see anyways. So was there anything in the big
I don't think I missed anything, right, Tyler from your that's.
Pretty much it. Ordinals and rooms are showing
some signs of life ahead of what is now just in.
In. Nashville conversation granted
it it's not we we need a few more days to to really start
getting excited about this after it is 80% downturn on all of our
bags, but there is some green. I saw you reply to me on the
Juanse's post. That was funny.
I thought this was a funny back and forth here.
I Juanse posted that pops was up 48% on the day and I said I need
10 days of this and then let's go.
You went 100 days straight for me.
So I thought, I thought that was it.
Feels like it's going to take 100 days to get back to where
pops were, but hey, some signs alive.
Yeah, some signs of life. So we'll see.
We'll see what what happens in the back of Bitcoin Nashville
Feb anyways.