The Wolf Of All Streets - $135K Bitcoin Next? Ethereum Rally Heats Up!

Episode Date: August 12, 2025

►► Discover Bitcoin Yield: https://archpublic.com/ Bitcoin is holding strong above $119K as traders eye a $135K breakout – but today’s CPI report could change everything. Ethereum is surging toward its all-time high with record ETF inflows and booming on-chain activity. Join me, Joshua Frank from The Tie, and Andrew Parish & Tillman Holloway from Arch Public as we break down the inflation data, ETF flows, and the next big moves in crypto. ►► JOIN THE WOLF PACK - FREE Telegram group where I share daily updates on everything I'm watching and chat directly with all of you. 👉https://t.me/WolfOfAllStreet_bot ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEKDAY! 👉https://thewolfden.substack.com/ ►► Arch Public Unleash algorithmic trading. Discover how algorithms used by hedge-funds are now accessible to traders looking for unparalleled insights and opportunities! 👉https://archpublic.com/ ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. Use code '10OFF' for a 10% discount. 👉https://tradingalpha.io/?via=scottmelker Follow Scott Melker: Twitter: https://x.com/scottmelker Web: https://www.thewolfofallstreets.io/ Spotify: https://spoti.fi/30N5FDe Apple podcast: https://apple.co/3FASB2c #Bitcoin #Crypto #ArchPublic The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.

Options traders are betting on Bitcoin heading to $135,000 in Ethereum heating up, heading to $4,800 American dollars, aka finally getting to its previous all-time high. It may be the depths of summer in August, but we still got some exciting price action and a shit ton of news seemingly every single day. We're going to unpack it all, of course, with Andrew and Tillman, but way more exciting than those two old men is Josh Frank here. from the tie. Let's get into it now. Good morning, everybody, and happy Tuesday. We are back, of course, with the team from Arch Public. But as I mentioned, more excitingly, Josh Frank here from the tie. Josh, it feels like every single time we've had you booked is randomly a day I'm not here.

It's been a while. I actually, and then you joined late on this. And so I thought that this would be another one of those. I thought maybe, you know, you felt bad that I wasn't joining, but you didn't like me enough to be part of the episodes that I was on. And so you just asked you should invite me when I'm not actually. Pure coincidence is because your hair is so much better than all of ours. And so it's like, do we really want to be on screen with all that amazing hair while we got two bald guys

and one guy who clearly just woke up and didn't comb over right? I mean, you know, whatever, man. Let's talk about things people actually care about. Otherwise, they're going to leave and go somewhere else. I don't know, crypto banter or something. Who else is on right now? There's a lot of people they can go choose. Here we go.

Bitcoin traders, I-135K, ether 4.8K in crosshairs as CPI data looms. I think the CPI data came in and it was kind of a nothing burger in line. I mean, do we really care about this stuff anymore? Like, is this, is this, Josh, is this really like what were a fear grip's market ahead of US CPI? That was this morning. Fear. I mean, does any of this really matter for crypto right now? Well, I think, I mean, I think, I think the answer is yes. Obviously that, you know, you have the treasury trade, which is what's, you know, creating so much buying demand.

And I think also the market just kind of thinks Powell is not going to do anything with rates. It doesn't matter what happens. I think that's probably more of why. CPI is a nothing burger right now, if I would have to guess. So we should just be paying attention to Powell and then he's going to do something. It's not going to matter anyways because last time he cut rates, interest rates went up. So maybe it just matters what the Treasury is doing. I mean, what do you think of these targets though?

I mean, there's a pretty short-term targets, 135K for Bitcoin and 4.8 for Eath. It seems like Eath's really got a more likely shot at that number than Bitcoin does right now. I mean, Eath could hit that today. Yeah. I mean, it's like, I'm not suggesting it's going to, but it could. Yeah. I mean, that's totally 10%. You heard it here first. You heard it here first, Ethereum to 4,800 today, according to Josh Frank from the tie. Clip it. By the end of this episode, yeah. By the end of this episode. All right. Tellman, Andrew, where are we at? 135K Bitcoin, 4,800, eat. Is that on the radar right now? I think it is. Yeah, I continue to be impressed with the buying floor of Bitcoin. The volatility is shrinking rapidly, in my opinion. And I think the up is the only direction that we can go.

If treasury companies keep buying, I saw David announced, I guess this morning, they're buying a billion dollars today of Bitcoin. You know, that sounds bullish to me. I think the rising tide floats all ships narrative is the strongest one that I've been focused on, which is the money supply, the interest rates, the macro scene. Bitcoin's going to do incredible. well regardless, but if you take, you know, if you believe that interest rates are going to drop and a lot of new cash is going to be printed in the next two, three years, I think Bitcoin could

really melt some faces. I actually look, I've been in the market, crypto market for a very long time, and this is one of the few times where I'm as bullish on Bitcoin in terms of multipliers in this bull run as i am on uh some of the all coins like i the all coins don't look that did you just freeze listen the illuminati alcoin illuminati got you the bitcoin maxis just froze you way they sniked me yeah you're saying something bullish i think about all coins and literally like uh i think max no i was actually saying the opposite i think it i think i think i think Bitcoin over $100,000 sounded crazy two years ago or sounded outlandish. And I think Bitcoin over $100,000 now sounds like a floor.

Like I don't talk to anybody that doesn't believe Bitcoin isn't going to $250 to $350,000. Most people believe that I talk to, you know, 500 and above. Well, I mean, think about that. That's a 4-5X if you kind of take the middle ground there. That's something that you can't ignore, especially with the critical. mass that Bitcoin has. And I've heard this a year ago from Dave Kruger. He told me this point in time is the point in time where Bitcoin's been de-risk the most with the most upside still to be had. And I kind of am believing that right now. I think the alt season is going to pale in

comparison to the Bitcoin pump. I think long term, you're right, 100%. And, And I say that with somebody who has, you know, most of my assets in Bitcoin and not an alts. But I do think with this treasury strategy, you know, as some of these more exotic alts get treasury companies behind them, if some of them are actually able to raise real amounts of capital and create buying, you know, pressure on the token and effectively lever up, some of these alts are going to absolutely like, you know, face melting rip. I mean, they might, you know, they might, and then they might get completely liquidated, right? And it could come crashing all back down. But I think, I think you will see a couple of face

melting rips on some of these alts. Again, I don't think they're sustainable. I don't think there's any fundamental reason. Whereas I think there's a fundamental reason behind Bitcoin. I'm not saying any fundamental. I think you're spot on in there. I still have some plays like that. But in my mind on those plays, I'm already going, how many Bitcoin can I buy with my exit? That's literally one thing. Yeah. Well, again, it's also, you know, the trade is, you know, you talk to the funds that are participating in a lot of these treasury strategies, right? The biggest thing you're looking for is how fast they can get out, right? How long. long the lockup is, right? And so, you know, I think there's, you know, there's the short-term

trade and then there's the long-term hold, right? And, and, and, you know, look, at some point, at some point, you have to think the treasury thing stops, right? Like, this, we'll see, we'll see, but I mean, at some point, somebody starts to over lever, multiple people start to over lever, and some of these things crash, right? And there's so many of them coming to market and they start trading below MNAV, right? Like, there's a, there's a world. in which that's going to, you know, start to happen and the puck stops. I don't know how soon that is, though. Maybe that's not for another six months, right?

But I think it's just thinking through, you know, what are you trading in versus what you're investing in. I mean, did you see this news? Bailey says, ever since getting into Bitcoin, I've had this dream of smash buying a billion of Bitcoin and a single bid tomorrow that dreams come, comes true. That's today, by the way. Yeah. Got to start dreaming bigger.

Then everyone was like, you have a billion bucks. He was like, no, 762.5 million, but whatever. that's right there but by the way it's fine you know it's generous rounding we're all clear bitcoin is down 37 bips today yeah yeah a billion dollars nothing out but listen i think that's awesome i'm assuming this is on behalf of nakamoto right obviously which is uh the the bitcoin treasury company which is why i brought it up but uh i think it's pretty notable i don't know if they've bought yet but i don't think i think 762 millions a rounding error for bitcoin now with the amount of sort of institutional interest and ETF buying that we have.

I mean, it didn't even move the market when there was an announcement that someone was going to buy a billion. I mean, we've got seller by $2 billion in a week. It's not in concert. I mean, Coinbase has only traded $520 million today worth of Bitcoin USD. So it's more than the daily volume on Coinbase. So, I mean, it's not, it's a real amount of money. Well, I'm not saying it's not a lot of money.

I'm just saying that announcements of a billion or if it's done or not moving the market. It doesn't have to move the market anymore, you know, because you have a billion in inflows and an ETF on any given day when you weren't even thinking about it. No, but it's going to move ETH and it's going to move other assets, right? And I think that's why I think you'll see some short-term alt performance. And on select alt, I think it's going to be very different than past markets, right, where a rising tide lifted all boats in altcoin markets, I think this is very different. If somebody raises $500 million to buy a random token, that token is going to do well.

Well, I think to your point, it's whether you get adopted by Wall Street and whether you see institutions coming behind that adoption. And if you see that follow through with ETH and XRP and some of these other large crypto projects, I think you're right. I think you will see some pretty good gains to be had. I saw another treasury company now. I'm trying to remember which one, but it was announced yesterday that was a completely random token. There are so many more than you think there are coming. I would encourage you guys and anybody listen to this podcast to find a way to get on CCM's email list. So CCM is doing, the small investment bank is doing all of these deals.

Yesterday I saw an email from them that announced the Ton, T-O-N. So it was somewhere in the range of almost $600 million of a T-N treasury company. Yeah. Bunk! We need a bong. Treasury Company. Yeah, Bonk, Ton. So, you know, if you want to stay on the cutting edge of this stuff and where it's coming from, where it's going, how much money is actually being raised, it's extraordinary how much money is actually being raised. Right. Also keep in mind,

a lot of the time, the assets are being deposited in kind. It's not US dollars. That's right. That's just the founders of Bonk. It says from the founders, $25 million, just sending it to another entity so that they can sell without saying that they're selling in a tax-efficient manner. Well, and they want to sell at some multiple to M-NAB, right? They want to, I mean, they want to trade at some multiple of their holding, right? So if you have one bank, you want to sell 1.2 bunk, right? So it's important to note that it's obviously it's not all cash, but look, even if they're depositing assets in kind, the idea is they can borrow against those assets to buy more

bonk, and they're probably trying to maximize the amount of bonk each shareholder has per share of. And not to besmirch CCM's name. I don't believe they were involved in the Bonk transaction. It might do well. You heard it here first. CCM launches Bonk Treasury. I heard it wasn't, I heard it was Goldman that actually did it. But, you know, in all seriousness, they are heavily, heavily, heavily involved in the Treasury space.

And, you know, there's an email or two every day with a new announcement associated with a treasury company, whether it's Bitcoin, Ethereum, alt coins of some sort. It is at a fever pitch right now. Where it goes, we'll find out. Back to your thoughts on price predictions. Just a reminder that if we go to 135, that's what, about an 11 or 12% move, right?

So the paradigm associated with what looks like a big number has completely shifted. You know, these aren't percentage moves. You know, a 10 to 12% move in Bitcoin three to four years ago was sort of par for the course in any given month. Now something like that, you know, would ring a lot of bells. But at the same time, as a percentage, it's just not what it used to be. That paradigm shift happened in traditional markets about, you know, five, seven years ago when we had NASDAQ, you know, two levels that people hoped that the Dow would get to back in 2000, right? So, you know, there are just big adjustments for the way that people think about markets once you get to these price levels on a percentage basis.

People aren't used to it. So there's shifts and changes, especially on the retail end. Institutions are very comfortable with it. The inflows associated with, I'm not at all surprised that the inflows in Ethereum have picked up the way that they have with the ETFs. It's simply rotation and allocation associated with institutions and some retail putting money into something other than a spot Bitcoin ETF. Oh, there's other access to crypto and it's doing well and Larry Fink won't shut up about it and neither will the administration. Yeah, I should probably be allocated to some extent to something else other than Bitcoin. Okay, let's shift and move some money over there.

I wouldn't discount how much that is retail. by the way right um it's it's i think it's majority retail and not institutional um and if it's institutional it's not always long term so i think it's just important to have that that caveat right yeah and and that that that retail demand is coming from again the narratives right the narrative yeah no 100 percent i'm not saying it's not real demand but i think a lot of the demand just like when the when the when the when the bitcoin ets launched the majority that volume wasn't institutional everyone's like black rocks buying no retail investors are buying through their Fidelity account are there, or whatever.

Black Rock buys a billion. No. Yeah. Come on, man. Yeah, Black Rocks clients are buying. Yeah, Black Rocks clients are buying. Now, to be fair, Black Rock's clients are largely institutional, but that institutional demand is coming from the retail clients of those institutions, pushing it through BlackRock.

Yeah, it's a bunch of people buying IBIT in their e-trade account. But still, I mean, it's a relevant number. It's just a nonsensical to pretend that Larry Fink is as, as. David Bailey put it, smash buying a billion dollars in Bitcoin on a daily basis, like for himself or for Black Rock's balance sheet, which is what that implies. Well, that's actually a really interesting thing to think about because you look at American Express's deal with Coinbase. You look at J.P. Morgan's deal with Coinbase. You look at these larger legacy financial institutions and how they're entering into this crypto market.

And, you know, I've, it's all about users to me. And I think that we have become as crypto, the crypto market, some of the most attractive users to try to solicit to or try to get on your platform. And there's cross sections of traditional finance and crypto that are going on every day that are meaningful that have never happened before. I mean, like, there's a company called Vivo Power that got on my radar. Have you guys seen their headlines recently in what they've been doing? doing publicly traded. They're on the NASDAQ, VVPR is their symbol. They announced like three weeks ago that they were doing a $100 million XRP treasury strategy. They've been, you know, releasing. I miss that. Yeah, exactly. How could you admit? I mean, I don't know why that

wasn't on your alerts. But yeah, but yeah, they've been announcing some pretty forward facing some bleeding edge type, you know, initiatives. Well, they announced today that they've got a strategic partnership now with crypto.com. And if you read the article, it's talking literally about how they're going after crypto.com's 125 million users. Like, that's what the whole deal is really predicated on, is that those users are so valuable that this partnership is valuable to Vivo Power. Why? Well, because now they're starting to offer VVPR on crypto.com. I don't know. They don't go into whether it's tokenized or how they're doing it, but this cross-section

of traditional NASDAQ traded shares are now coming to crypto.com. So this notion of, you know, user demand being the most attractive or one of the most attractive things in this market, I don't disagree with. In fact, I think it's probably bigger than we know. and I think that if you look at Coinbase in the position they're in, they're going to be launching IPOs. If you had a market to launch an IPO on, what better market than this one? What better example do we have than the ICO craze that we saw where specific exchanges got exclusive offerings that they got to announce? And they said, we got this coin and we're launching it and we've got this.

And bam, the liquidity showed up the day later. I mean, it was just like an inflow that you couldn't imagine. Same thing happened with Trump coin. Think about how much money was sloshing around in a 24-hour period based upon a tweet. That's, I think the traditional finance folks are looking at this user base as the best user base to go after. And I think crypto.com and I think Coinbase and I think Cracken and I think all these exchanges are in a really unique position where regulation is going to allow them to really create brackish water immediately by mixing the two pretty quickly. Yeah, I mean, I think it's worth noting, right? You know, look, the younger generations holds crypto.

Like I was just trying to find some research on it. Gemini pushed out a report in January that said 51% of Gen Z. holds crypto. Whereas, you know, older generations, you know, those numbers are much, are much lower, you know, the older generation is going to be around for a lot less time the younger generation is. And you're going to have a massive wealth transfer from the older generation to the younger generation as well, right? And so I think that's obviously a huge part of it, right? And these large, you know, financial institutions like American Express, you know, I would guess the majority of their revenue is coming from folks that are a bit older.

Obviously, want to get in front of a younger demographic as well, right? And that younger demographic demands crypto, right? I mean, 51% of Gen Z holding crypto is gigantic. I would guess that nowhere near 51% of Gen Z owns the S&P, which is crazy. Like, I would guess that number is nowhere near if I, I mean, just total guess, but we would guess it would be nowhere near that number. Well, it's the same. It's the stat that I gave about a month ago on this show. Coinbase has 120 plus million customers.

J.P. Morgan has 86 million customers. That's really all you need to know. There's a reason why J.P. Morgan has done two deals with Coinbase now, one associated with wallets and the other one associated with building their quote unquote, whatever it is internal coin on base. Like J.P. Morgan is doing two things. One, they want access to Coinbase customers at large. And then, two, they're doing everything they can to find a way to keep their JP Morgan customers. And so if they offer these types of products and services as an adjunct, then the JP Morgan customer says, okay, well, I'll keep my account here at JP Morgan and most of my assets at JP Morgan. it's going to be extremely interesting over the next 12 to let's call it 36 months

what happens with you know again that cross section of tradfine crypto as crypto grows and to josh's point about gen z you know that particular group of individuals they're set to inherit an enormous amount of wealth enormous amount of wealth and so that's on that's everyday meetings at the jp morgans and bank of americas are about that dynamic and how do we stay relevant how do we make that happen and uh you know the numbers the numbers are extraordinary they really are gosh i know you don't have like the most time today so i want to ask you about something that you're probably uniquely uh uh educated on to answer each transaction volume climbs on price rally cheaper defy costs so i've been using ethereum of late it's like

pennies. It costs almost nothing right now. And last time we were at these levels, it was like when people were minting NFTs and it was costing like $95 to send in Ethereum transaction. I mean, I think we're a hair's breadth away from the highest transaction volume on ETH ever. And it's still really cheap. So, I mean, people are actually using this network and it's not broken. Is that all because of the merge? Is that all because of whatever upgrades they've made? because it seems... Oh, you're assuming that I have a good technical answer to that question. I mean, I'm also looking at it.

No, you see the data on what's happening. I have the data. I can tear my screen. Yeah, go ahead. So... I still use the TIE dashboard every day. Yeah, thank you. Okay, so I don't have a long-term data up here.

But yeah, you can see there's a, there's a quite considerable spike in active addresses, transactions, dex volume, and most, you know, metrics around. ETH and to your point, average transaction V has stayed pretty consistently around 80, 80 or so cents, which is quite interesting. So, yeah, I mean, it's 80 bucks. It was literally 80 bucks last time. The amount of times I spent $200 to do something on chain in 2021 for something that is now worth less than $200 is unbelievable. So, no, I agree with you. I mean, I think the challenge with this all is obviously there's a lot of buying because of treasury companies, but,

the same problems we spoke about with ETH's fundamentals a month ago and two months ago before all this treasury buying are still real. There is not a lot of ETH that is needed to transact on chain because it is incredibly inexpensive. And despite the fact that transactions are going up, to your point, it is still inexpensive to interact and transact on chain. So I think in crypto, we sometimes forget that fundamentals matter when price starts going on.

They matter so much when it starts going down, though. Oh, yeah. So much. So much. But I just don't even understand, like, technically how that works. But I guess we could figure that out another time. And why would you go to a layer two right now if it's 80 cents to do things on each, I guess to make it eight cents, but is there a reason you would, like, jump to

a layer two right now? No, I mean, that's a real question. I mean, you could see it in the performance of L2s. I mean, L2s are down 95 plus percent, pretty much every single one of them across the board. Right. I mean, the question is either you need to have some fundamental reason that these assets are moving. There needs to be a narrative behind why these assets are moving, or you need to have a DAT company that's just smashing the buy button and levering up to buy more of the asset, right? One of those three things need to be true.

And if multiple of those things are true, assets probably going to perform very well. Yeah, I guess I just wonder, like treasury buying on Coinbase or OTC or something is not really reflected heavily in on-chain data, right? So that's not what's accounting for all-time highs in transactions. No, no. I mean, it's not. I mean, I'm just looking right now that number one, right now, right now a lot of the big, yeah, I mean, the number one transactor on ETH right now is an MEVBot. I'm just trying to see if there's anything specific. That's interesting.

A scam. It's from running people's transactions. It's crushing. It's a thrilling television. It's always Jared from Subway. God, it's unbelievable. Meanwhile, though, speaking of buying, I mean, U.S. spot ether ETFs hit a billion daily inflow for the first time yesterday.

A billion dollars in ETH bought in Ethereum ETFs. I mean, this thing might be catching on. Well, we're at the end, I mean, that's like a big day for Bitcoin ETFs and even in the peak. We're at the edge of selling May and go away. So people are coming back. People are re-engaging and conversations are increasing across wealth management. Just be careful. When your, when your grandma calls you and asks you about crypto, don't forget to hit the sell button.

The deadest top, the deadest top of Ethereum ever. I went to get a haircut. and my barber asked me about urethrium no lie it was the day that it topped and he was like urethrium i was like go to the doctor i don't know if that's a cd or what you're talking about but there's nothing called urethrium i'm not aware but it was the dead top he's like have you bought the urethrium so i got i got a i got a i got a message from my my uh co-founder a few days ago trying to find it. He goes, my, my, I don't know if I can find it exactly, but he effectively said, my science teacher just sent me a message about, you know, from high school, about,

about chain link. The last time he messaged me was like November 17th, 2021 or something. So, you know, there will be signs, right? Yeah, yeah. I, I don't personally think we're there yet, but I think it's just, it doesn't, look, I mean, for my, for the sake of my bags, don't sell. But for the sake of, you know, if you're thinking about saving up to buy a home, if you've got to pay for your kids' education, whatever it is, don't forget it. It doesn't hurt to sell some. You're not going to regret selling a little bit of your your holdings on the way out. Yeah. That's not just a crypto. No, no, it's not just a crypto thing. It's not just a in all markets for all intents and

purposes are at all time highs. Yeah, no, look, when things get very euphoric, it doesn't hurt to sell a little bit. Well, it's always really, really quick, tell me. I think Josh has to go in like one minute or maybe one minute ago, but is there anything like super on your radar right now that's exciting you before I do let you go? Uh, super on my radar right now. No, I mean, I think there's an interesting conversation and dialogue about, um, all these new L-1s that are launching and what that mean to the market. I mean, we saw the Stripe L1. I don't know if they announced it or maybe Fortune or somebody wrote about it. And then Circle just announced an L1 this morning. And so what does that mean? Right? And you ask about, you know, Eith, well, you know, what does that mean?

Who are the winners in this, you know, in the market where, you know, but keep in mind, you know, I think somebody made the point on Twitter earlier stealing what they said, you know, hyperliquid is a 40 plus billion dollar, you know, TVL asset, it's its own L1, and it just does a single thing, right? And so, you know, purpose built L1s, you know, potentially are the future, right? And, you know, Stripe having its own L1. But what does that mean for existing players in this space is an interesting question. And I think the other point of that question is, you know, I think one of the things that has been a struggle for L1s and L2s in the past is, people chase incentives and people are incentivized to build on a certain L1,

but then another L1 might come along and offer all sorts of incentives to go and move and build on that L1, then they might have even better incentives to go and build their own L1. And so the question is, how do these chains, if they want to become the internet of something or they want to, you know, own attention and own users, how do they actually retain those applications and retain those users, and do we have a fully, I mean, or do we just have a fully interoperable future, which everything works together, which I think will be the case. But the question is, does that mean things are worth something? And how do you define whether or not something is worth something?

So that's that to leave you with final thoughts, that could be a multiple hour-long conversation. Yeah, it is. I'll leave you with this. Guys, give Josh a follow. Thank you very much. Josh, always. It was a pleasure to actually be here when you were present once again. Well, thank you for having me on that.

everyone. All right, man. Talk to you soon. I'm with these guys. By the way, per his point, it doesn't hurt to have a massive, massive user base already, right? So thus coin- Well, that's why, yeah, I mean, Stripe, but it's curious because the whole Tomley pitch, which I, like, I love everything Tom Lee is doing.

Great. Once again, for my bag, is terrific. But, like, his premise was such a basic bitch, like, comment that anyone on Wall Street might understand, but anyone in crypto would laugh at, which was that, stable coins are big, go Ethereum. And I'm like, stable coins are going to be everywhere, everything. And now, yeah, Stripe launching their own, that's bad for Ethereum if your pitch is that Ethereum simple.

Circle launching their own L1, really bad for Ethereum if you think the circle's going to move all their transactions out to their own layer one. That is not the narrative. Like these stable coins, I mean, if that was the narrative, then people wouldn't be using Tether on Tron. Again, there's a lot of, you know, you can go back and use analogies of when there were explosions in certain portions of business slash society, whether it was the, you know, the explosion in automobile production from the 1920s through the 1950s, all of that eventually consolidated.

And all explosions since then, the computer explosion, the internet explosion, all those things happened faster, you know, given where society was and evolved to, you know, every time. Same thing with stable coins and crypto. eventually we'll get we're in explosion mode right now Stripes doing it everybody's doing something with crypto

but at some point it will settle out and there'll be winners and losers we'll see who those are but no different than the dot com boom and bust there are you know some of the three to five biggest companies in the world were born and bred through that moment

and still exist. And the technology that was taken down and made illegal like Napster and some of the original cloud streaming type services became adopted by Apple. And Apple Music is a byproduct of that. So as YouTube music, so it's all of these now larger companies that existed that said, you know, this technology is too impactful for us to pass up. And guess what? they bought and or built their own, and they implemented it very nicely within their ecosystem

and their user base, and they got to reap a lot more of the benefit than otherwise. So I think it's a natural evolution of the markets, and I think the Treasury side of things is going to be where we see it the quickest. And I think there's going to be, I mean, I think David Bailey said something, a tweet yesterday, that he was, Nakamoto's like the ninth or eighth most attractive stock to short at this point. So, you know, there's going to be a point where there's a lot of money and there's a lot of leverage and that equals a lot of volatility. And you're going to see a lot of people go bust and you're going to see the narrative shift to the people who in those times can gobble up the weak gazelle and become the victor.

And I, you know, if you look at like, for example, Michael Saylor, what would be stronger for him to do than to buy up a failing treasury company and acquire all that Bitcoin? Like, I think that's going to be, it will happen. I almost can guarantee it. I just want to add to Andrew, the fact that I didn't even see Circle and Stripe announcements. That's how like much we don't get stable coin news anymore. But Visa's Crypto Chief aims to leverage $2 trillion stable in era. Meanwhile, Western Union malls its own stable coin as payment rivalry. The question is, is it with Western Union launch now one?

Does the Western Union use Circle's new chain because they do a partnership with Circle or is it's on every chain? Who knows? But it's very hard to predict what this future is going to look like, but we're going to have stable coins. All I can see on those webpages that you pulled up is the amount of bills that Grayscale is paying at Bloomberg, given their ad presence on every single page. I wonder if it's just they serve me because they know and I only open the crypto in person. So, no, the movement is going to continue and it's, and again, it has everything to do with

users, everything to do with users. And the ability to not only leverage your user base, but at the same time, gather users. And that's going to be the fight because, you know, I was told by, I've got great relationships at Morgan Stanley and a buddy of mine who's been there now for 10 years after working at UBS for 20. He said, listen, the reason why we did the E-Trade deal is because it, you know, quadrupered our user base. Morgan Stanley, in terms of, you know, high net worth and ultra high net worth folks on the retail side had like three and a half million users in the United States. Three and a half million. That's nothing.

That's literally nothing. So why did they do the e-trade deal? Even though there's not meaningful crossover, it's because they added like 12 million people to their company. So the same thing is going to happen, whether it's stable coins, whether it's treasury companies, whether it's mergers and acquisitions in the exchange world with banks and tradfi. It's going to be a whirlwind over the next 24 months, the likes of which this industry has never seen. We haven't even mentioned on this podcast, you know, the coming IPOs that are going to happen. Bullish IPO, Peter Thielbacked company, Gemini's IPO that's coming. All this is going to happen in the fall.

It's, man, we're also on the cuss. Again, selling May and go away. We're on the cusp of the end of August going into September. So you're at the end of Q3. So what happens at the end of Q3? We're going to see enormous inflows into both Bitcoin. and Ethereum ETFs over the next 40 to 50 days. Why?

Because money managers have to catch up. At some point, their clients are going to ask him, why am I not allocated in some way, shape, or form to these wildly outperforming products? What are you guys doing? And so they're going to stuff a bunch of money into both Bitcoin and Ethereum ETFs. So when they have those meanings, they're like, oh, no, no, no, no, no problem. We have exposure. to those you're good you're exposed right so there are common traditional financial

wavelengths that happen throughout the year that you can just count on right so there's you know is there a five 10 percent dip out there for the crypto market certainly there always is who knows is there a 20 percent dip no no chance no chance right now the the floor is so high on this stuff right now, given the constant allocation that's happening and the pickup and activity heading in the next 45 days, given where we're, you know, for all intents and purposes, Bitcoin is a traditional financial sort of tool at this point. Ethereum's, you know, right around the corner to be in that. Whether you like that or not as a, you know, cyberpunk. So what is what it is? Right. It is what it is. Something that we also haven't talked about,

which I think would be the only thing we'd be talking about maybe two years ago is this 401k crypto legislation. I mean, you talk about a rising tide guys. You mean, 401k money, they're never selling. They're not sellers. They're just buyers and they keep buying until they die. That is an unbelievable piece of legislation that I don't know if it will pass what it looks like. But if you're you're allowed, if it opens up that opportunity to put real estate and crypto assets in your 401k, you talk about, you know, integration, adoption rates, talking about, you know, that rising tide effect from retail. It's, you know, the integration that we're on the cusp of, to your point, Andrew, I don't, even if there was a big dip, I don't think you're going to have to wait four

years is the point. You know, this four-year cycle thing that we've been on for, I don't think that exists anymore. Time will tell. We're going to find out. But, you know, just like we've seen massive difference since the having this cycle versus the previous cycles, I just think the game has changed. And to your point, I think it's at adoption inside of Wall Street level. And that money doesn't dry up. That is the head wall. That is the dam. That, that, that is the dam. That's where all the energy is made. It's crazy. Do I want to talk about a big difference?

You're talking about a big difference. Andrew, I'm going to get a transition. I see you want to say something. Oh, yeah. I'm ready to jump on that unbelievable word. Absolutely show-stopping results with our stupid arbitrage algorithm in orangepublic.com. Listen, this is something over the last two weeks we've used with our clients and the free users that are looking to upgrade to our concierge program. this is an undeniable number right so you look at suey which has been a great asset to hold over the last year

if you would have bought a hundred k worth last year at this time and just held it you would have done really well you'd have done 3x your your money you know a little more than 3x if you would have used our arbitrage product you would have done significantly more than 3x you would have done a 9x right that's the that's the conversation stopper right there like if you don't think that automation is meaningful and works and is a plus plus plus associated with what you're trying to get accomplished in the crypto space i i don't know what else to tell you i mean i literally don't know what else to tell you and here's the thing too so even if you're just a a bitcoin focused person how can you and i'll harken back to Jeff Park, who talks about volatility farming all the time. How can you farm volatility and turn

that into additional Bitcoin, right? How much more Bitcoin can you buy over the course of the year when this- Well, that's what Josh said. It's the trade versus the hold, right? Yeah. Yeah. And there's the volatility in the crypto market is often referred to as a feature by the biggest names, Michael Saylor being the top. But nobody really understands what that means. And what it means is, is that as price goes up and down, if you have a piece of software that allows you to move a dynamic range in your favor and capitalize on that volatility, that those movements mean something to you because you have the lines in the water to capitalize on those movements. And so what's interesting about our software is how flexible it is. We've got customers that say, you know what, to Andrew's point, I don't want to trade, I don't want to have any suede.

exposure. I don't want, I don't care. I'm a Bitcoin maximalist, and by God, I want to use the volatility of Bitcoin to do this same type of thing. Well, Bitcoin's not as volatile as Sui. So those types of movements are harder for Bitcoin to achieve. Sui's movements have been astronomical over the last year and a half, but you can change your own parameters within the software. We had a customer the other day that called us and said, hey, I'd like to, uh, create more activity. I'd like to trade more in the arbitrage strategy on Bitcoin. Well, we took him into his settings and we showed him exactly how to lower the threshold that had to be met in order to trigger those trades. He was able to adjust it himself. He now is an expert

in how to adjust those parameters. And so he can create infinite instances that allow him to capitalize on that volatility. If he thinks that a 5% dip in Bitcoin, in a four-hour windows of buying opportunity, that's what will be triggered. If he thinks a 5% dip in a day candle is the trigger point, he can set that. He can set both of them at the same time. He can set 15 more on top of those that actually are lines in the water that you determine the settings on that now you can forget about and go live your life. And when the market presents the opportunity or answers the opportunity against those

conditions, bam, you're ready to execute and you have the capabilities of doing that without sitting in front of your computer and monitoring it. So it's extremely flexible. A lot of misconception that we get is that we have access to funds. We do not. We do not trade your capital. This is a user-based program. We will teach you how to use the software. Another big misnomer is that it's one trade. It's one algo. It's one strategy. It's not. It's a platform that allows you to create infinite numbers of strategies and conditions and then set those and forget about them. So we can walk you through that. We can teach you about the software. But seeing really is believing. And that's why we've made the product free to use. It is not a watered down version.

Come on our website, click try now, and you will be plugged in with one of our excellent concierge members and one of our employees. And they will walk you through learning the software. They will show you the robust functionality and the capabilities of it, and they will get you to a point where you're taking trades and you're actually doing it. Once you're there, you're going to know whether it's something for you or not. It's seeing is the believing, and you're going to either see tremendous value in it and go, aha moment. This is something I've never had access to before. Or, you know, if you've seen it and done it before, please reach out to me because I have it and I'd like to know who our competitors are. We're really trying to serve a unique niche in the

market here and getting people institutional tools at a retail level. Andrew, final thoughts here? Final thoughts are, we're in the dog days of summer. So in August, we're doing some extraordinary discounts on our concierge program that we've never done before. There are four different tiers inside of our concierge program, which allow you to trade a certain amount of volume on an annualized basis. So if you've ever been interested in the concierge program, now is the time to have that conversation anew.

And then, you know, to Tillman's point, you know, the ideas associated with quote-unquote algos, these aren't singular algos. This is a warehouse of tools that are available to you that aren't available anywhere else. And, you know, once people get comfortable, three, six weeks down the road, they've gone from using two versions of this, you know, Bitcoin and maybe Solana, to now they're running 17 versions working with our team on Bitcoin, XRP, Salana, Suey, and something else. We're available now on Gemini and Cracken. We're available on another exchange. We're keeping under our hat, but it is actually available. We'll announce it later. But, you know, three different exchanges and, you know, your ability to use our tools across those exchanges, completely unlimited.

You got it at archpublic.com. I had it up there. Bring it back up. You can see it down in the scrolly thing. You can see it in the description. You can see it literally everywhere. I mean, if you like money, it seems like a good thing to consider. I like fun.

That's a good way. Yeah. That's good way. I can't think of a better way to end it. Thank you, Tillman. Thank you, Andrew. Thank you, Josh, with the good hair. It's been a pleasure.

Gentlemen, see you next week. Bye.