The Wolf Of All Streets - Bitcoin To $100,000? Crypto Hits $3 Trillion Market Cap - Should You Buy More?

Episode Date: November 12, 2024

Bitcoin and crypto are going parabolic! My friends from The Arch Public, Andrew Parish and Tillman Holloway, are joining me to discuss the craziest crypto rally! Unleash algorithmic trading with The Arch Public: https://thearchpublic.com/  Andrew Parish: https://twitter.com/AP_Abacus  Tillman Holloway: https://twitter.com/texasol61  ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEKDAY! 👉https://thewolfden.substack.com/   ►► The Arch Public Unleash algorithmic trading. Discover how algorithms used by hedge-funds are now accessible to traders looking for unparalleled insights and opportunities!  👉https://thearchpublic.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.com/ Spotify: https://spoti.fi/30N5FDe   Apple podcast: https://apple.co/3FASB2c   #Bitcoin #Crypto #CryptoBulls 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.

We saw countless institutions and publications calling for $100,000 or even $150,000 Bitcoin by the end of 2025. And while we were retracing and prices were down for six months, it seemed almost impossible. Well, yesterday, Bitcoin came just shy of $90,000. And I don't think that anyone believes $100,000, even by the end of the year, is impossible at all. And with that, we also saw altcoins exploding and the total crypto market cap hitting $3 trillion. A lot of people are trying to short this because they are redacted. I think maybe it's time to buy more. Should you buy more? I think we're just getting started. We're going to talk about that and everything else now with the boys from Archpublic, Tillman Holloway and Andrew Parrish. Let's go.

What's up, everybody? I'm Scott Melker, also known as the Wolf of Wall Street. Before we get started, please subscribe to the channel. Hit that like button. I know it's a bull market because Tillman decided to grace us with his presence. And we know that he wouldn't show up when it wasn't exciting. We just wait. You know, we hope one day.

When I see the parades in the streets, that's when I start coming out of the bunker. That's my call to action. He knows that he's in a safe space now. So let's talk about yesterday's price action because holy crap. Right. Look at this. Started the day about $80,427, which was already astounding. Right. We were already cheering $80,000. Can't believe it. Well, it closed the day at 88,770, actually went above 89 at one point in the day, but from open to close, so not even counting the Wix, $8,343 daily move, the single largest move by dollar amount, not percentage in the history of our beloved Bitcoin. Tell me when you've been here a long time. $8,343 spread is pretty significant. Well, it's significant in a couple of lights. Number one, I think obviously the higher the price goes when we're sitting at $300,000 whenever we get there,

10 years, one year, whatever. If we're at $350,000, a 10% move is going to be a $30,000 day. So we're just, it's the natural evolution of a market. It's when you get bigger and deeper liquidity, price action can move a lot without the percentage moving as much. So that's a very positive notion to look at. Number two, the thing that I'm most excited about is that there's only a couple of entities on the face of the earth that can tell you what they're going to do and not care that you're going to front run them. And one of them is the election and people did not price in a Donald Trump win. election. And now that we have the clarity, markets love clarity. The question is, is what are you going to speculate as it pertains to how the US government is going to embrace Bitcoin going forward? And if there is going to be a strategic national reserve fund set up, they don't care what the price is because they can print free money. And whatever incremental

price increase they pay to get their Bitcoin stack, it's about gaining the control that comes along with that Bitcoin stack. And some would argue that they already have it because their partners, BlackRock, already have it. And so do all the regulated financial firms that are holding the physical BTC at this point. So it's a huge positive that the market is evolving into such a place where the foundational asset is going to go up in a parabolic way and there's nothing to do it. There's nothing to stop it. There's something that somebody taught me very early in my trading career. And it was like, when you get a chance to be a part of price movement, where it's price discovery, where it

doesn't know what its price should be. Just buckle up and watch the fireworks because human nature is to drive it to both extremes before it finds its middle, right? The irony that we cheer for the global strategic reserve that requires more printed money to buy the Bitcoin is it should not be lost on on anyone like if the government's going to buy a million Bitcoin or two million or five million I think even as a RFK once sort of posited it's going to require the very thing that Bitcoin is we're printing that much I mean we're printing that much and sending it to Ukraine think about at least this way we're getting something for what we're spending and the fact we're getting a big chunk of Bitcoin. Yesterday was bringing together both macro and

micro. So as Tillman talked about, the reality of what are the boots on the ground associated with regulatory clarity. Talk about a cloud being lifted on the industry in such a significant way is is, you know, was defined yesterday by the significant price movement. But there was also some micro stuff. So Alliance Bernstein or Bernstein, their research arm, which is a massive, massive, massive global institution, basically has moved from Bitcoin is a good idea. We wrote 160 pages on it four weeks ago to throwing off all the paper on their desks and pounding the table saying, whatever you think of this, stop thinking about it. You just need to own some.

You just need to own some, right? That is very, very rare for these types of organizations to make claims like that. What was buy everything you can? Yeah, buy everything. Or seen said, okay, but can we buy everything you can? Sounds like financial advice, first of all. Yeah, I mean, well, they're in the business of that. But buy everything you can. That type of headline is, I mean, it just doesn't happen in their business. It just simply doesn't happen. You know, a buy everything you can is usually positioned as you should have a 3% allocation in your portfolio with crypto. That's usually as bullish as you ever get.

A headline like buy everything you can that's on paper inside of an organization like that is really something. From the head of their research team. That's what I said. Don't fight this. Welcome to the crypto bull market. Buy everything you can. Yeah, that is, that sounds like-

That sounds wildly irresponsible is what it sounds like BitBoy from like three years ago, okay? Does BitBoy now work at Bernstein? I mean, what's going on here, right? So you've got macro and then you've got micro and then you have these massive forces which are the bitcoin etfs which by the way yesterday scooped up almost a billion and a half in bitcoin inflows um uh you know big black rock itself 730 million. This is followed by late last week, $1.1 billion. And then previous to that, another day where they had 300. So you had Fidelity at plus 100. You had ARK at plus 100. The inflows are going to be aggressive. I bet yesterday was up like seven and a half percent of the day or something like that.

The point is, is that you have, again, these macro forces and, you know, theoretical conversations about where we headed. And then you have the reality of actual performance on any given day, any given week. And what this month is going to look like, by the way, for November with all these assets, the catch up that's being played. And I've talked about this with Bitwise guys, the catch up that's being played from a performance standpoint for anybody, absolutely anybody that has to answer to a client that they're managing money for. If you're not in a spot Bitcoin ETF inside of your portfolio that you manage on behalf, they're going to ask you why. Tell me why you aren't in this asset that's up 100% year to date. I want to know because if you can't tell me, I'm going to think you're stupid and I'm moving my money somewhere else. Or at the very least, it's a trick question,

right? It's like the advisor doesn't know how to address it, which if you don't know how to address it, you always, you know, the best answer is to address it head on, which they're having to do right now. I agree that the systematic involvement of Bitcoin being bought in retirement funds is yet to be turned on. I think we're seeing dribbles of that now. But I think there will be a day where you have no different than what we have in the stock market. You have 1% to 3% of daily volume being accounted for by mindless buys in your 401k just just yeah passive investment exactly and i we're not even there yet but what what i think this pump is about is psychologically trading is all psychological right if you how long has everyone been sitting there going

uh bitcoin's gonna go to at least 250. And I think most people in their minds think above 300. That's kind of the consensus for this cycle. Well, it's just been hovering, hovering, hovering. Well, when it gets that break, and it gets the break on such a catalyst as Donald Trump saying, we're going to basically include Bitcoin in our national conversations, that tells you that, you know, we've got to get into the mid ones. We got to get to the 150 mark before we even get halfway to reaching the full potential of the bull cycle in everyone's mind. And so I'm thinking, I really believe we're going to crack through the 100 mark pretty easily. And I think we're going to take a pause and regroup at, you know, maybe go up to 110, 106, come back down to 100 and retest, maybe even violate it just to shake everybody out. But, you know, I think that in everyone's mind,

Bitcoin is still cheap. And you can see it when the dips happen, they're bought up immediately. I mean, it's unlike anything I've ever seen in regards to the dips. It's like there's an insatiable desire to own Bitcoin as a backstop. And you look at it again, there's another piece to this puzzle that I like to put out there. The major price movements are having to happen on the weekend these days. Have you noticed that? They're always on Saturdays and Sundays when the big pumps or the big dumps happen. And what's great about that is we get to see what Wall Street does Monday morning when they respond to it. And this week's going to be very telling. If inflows are what Andrew is alluding to them being, I mean, good God, we're going to be, we've got big brother behind every cell saying,

give me some more. Yeah. I'm also wondering what sovereign nation is likely buying Bitcoin here that could be driving this price because there's been a lot of smoke and usually when there's that much smoke, there's fire. I think David Bailey came out with a comment saying that he's the CEO of Bitcoin magazine, obviously the Bitcoin conference. And so listen, we know that there's a country buying.

I can't tell you who it is, but it's happening. A lot of believing that Saudi Arabia or Qatar. But I mean, this is the kind of price action to your point where someone with a massive stack who needs a position is willing to just buy at any price and keep doing it until they have their position established because it's a long-term play. I can't say that that is what's happening, but it's what's going to be happening. Well, the tea leaves are there. And I think it was a month ago, maybe, Scott, you and I talked about, wow, we've got a total AUM number in the spot Bitcoin ETFs of 61 billion. It's 84 billion as of right now.

So it went up another 40, whatever the percentage is. Tillman's better at math than I am. I know that's just a lot. Okay. That's a lot. More than 30%. Yeah. So here's the thought process. And I know a couple of weeks ago, Scott, you and I spoke with Jeff Park at Bitwise, who again, you know, comes from a background of being in the exotic derivatives department at Morgan Stanley.

Right. with coming Bitcoin ETF options in Q1 of next year, which, by the way, are a done deal that they're going to get approved and start trading and being a part of this whole process because of the change in Washington. We're going to have not just price action that looks like this and is exciting, but we're then going to be building a pretty significant banking layer underneath all of this stuff. And so you're going to have derivatives products, options products, lending products, leverage products. You're going to have all of those things associated with Bitcoin, which is why, by the way, the ultimate front runner and guy who knows what's going to happen before it happens. And I'm sorry if people are sick of me saying this is Larry Fink.

So three weeks ago, he's on his conference call, which, by the way, that's a heavy, heavily regulated forum. You can't say anything that's not true on those things. And he's talking about Bitcoin and connecting it to the mortgage market when it began to really grow. The reason why he did that is because there's going to be this ecosystem that is built around Bitcoin as an asset from a banking standpoint. And BlackRock wants to be the base layer of that. And so to me, you know, going to 150, 175, 300 and 350, all the action's going to be there. It's going to be in how that's built and how quickly it's built. And it's turbocharged now because there's no, all the shackles are going to be removed. They're in the process of being

removed right now. Well, it's actually, if you understand what they want, which is volume, right? They want to be able to take the fake money that they print and they borrow from the Fed and they want to push it into a market that attracts a lot of people and a lot of activity, trading activity. The fact that they've propped up this new exchange in Texas, there are so many behind the scenes pieces of the puzzle that if you just look at them all, it's pretty easy to see that we're going to take the leadership position in digital assets and the tradability of them. And Bitcoin is going to be the base layer or one of the base layers to that system. And the ETFs and

everything that they're going to do from this day forward is going to be about collecting and controlling the physical Bitcoin. And what I mean by that is like banking is great for the nation because it's a manipulated game that allows us to inflate our currency and create wealth out of thin air and then create innovation because of the incentive that that wealth gives us. And so it's this cycle of creating valuable things. Our GDP is what it is because of that. And so if you're looking at what do they want from this? Well, the good news is, is they want something that they can put an infinite number of dollars in. Does Larry think, does it help him or hurt him if we're talking about Bitcoin

as Bitcoin whole coins? Or if we're talking about the value being so high, we're now talking about sats. Like people are, it literally has gotten to the point where the value of one Bitcoin is so high that no one buys it. And anyone who does own it, they can earn such a yield from it by letting a bank hold it for them that they're idiots. And it sucks that Bitcoin out into the financial system that we want to hold the majority of it so that we can control the markets and inflate it. That's the whole game, right? And so if they can get the majority control, which I would argue they already have because they can create it through paper derivative products that will equate to more than the actual market, and they've done that on every other front, look at the real estate market.

What is the real estate market really? Well, it's the largest banking function for human beings in the United States that exists. What if more people have more wealth than anything else? Their property. What if more people look to as a lump sum when they have to go buy a next house? They have to sell their first house. That's where we hold a lot of our assets, and that's what a HELOC is. It's going, hey, do you want to pull some, do you want to treat your house like a bank

and pull some money off of it and do other stuff with it? That's going to happen. It's going to happen to where if you're a holder of Bitcoin, you can walk across the street to any bank. And because it's hooked into the federal system of lending, you're going to be able to draw loans against it. And you're going to be able to draw loans against it. And you're going to essentially have a sweet interest rate because they're going to attract you to make your deposits there,

your Bitcoin deposits. That's all really negative stuff if you believe that Bitcoin is going to be the one world currency that's used to buy your groceries. But if you want the liquidity that the fiat producers can give a market that makes it go parabolic, we're literally knocking on that door. It's happening right in front of us. I want to point out something that I always find amazing on moves like this. We all know that if you're just sitting in spot Bitcoin at any point in history, you are well into pay for paper profit. You literally couldn't lose if your life depended on it. Maybe if you bought yesterday at like eighty nine thousand five hundred, you're slightly down. Right. But every time we see moves like this, we get these stories. Bitcoin spikes above eighty nine K in wild trading session, battering both bulls and bears and if you dig into the numbers there were almost as many people long liquidated yesterday as there were people short so the moral of the

story there guys leverage is a drug you'd be careful with drugs because people there are people who bet on bitcoin going up yesterday and lost hundreds of millions of dollars collectively because they were using leverage instead of just sitting comfortably in spot Bitcoin and enjoying the ride. I mean, think about that. Bitcoin got that high, but because of the volatility and the amount of leverage they were using, those big swings in both directions, the volatility liquidated everyone. Well, but honestly, that's a great thing for our market right that's just extra liquidity the market gets to keep and when you're playing high risk reward games like that you know you're going to lose a lot more than you win but the ones you win they're hoping like these people who do

play that game i've played it it's not they're not sitting there going like i'm going to win every single one of these they're just betting that one out of 20 hits and the one out of 20 is so it's a hundred to one leverage. So you're betting that you catch the huge leverage move. That's exactly right. It goes your direction so fast that you can just chase it up with a stop and those, you know, those articles about how many hundreds of millions on the buy side or on the sell side lost money, those articles are going to be 10x the number three years from now because of the options that are coming. So the truth of the matter is, again, that's liquidity. That's size and scale of the market growing in such an immeasurable way that we really can't fathom it right now.

The truth of the matter is, is the world of finance wanted the leverage game and the scale game to move away from Binance and FDX and the like and move into their laps. Now, however, they got that accomplished. that's a conversation for another day, but they did get it accomplished and it's here and it's going to be more and more here once options get approved. I think Jeff Park from Bitwise talked about March of next year, having the options approved. My best guess is it's now mid to late January because that will happen very, very fast. And then on top of that, we're probably going to have Ethereum ETF options that are also approved quickly after that.

So, again, the amount of liquidity that's going to be coming into just the crypto markets overall is going to be the likes of which we haven't seen. And so it's it's we're in a spot here that if you're not involved in the game, this is why the Bernstein note is so smart, if you're not involved in the game, you're going to miss something. You just absolutely are. You're going to miss. And by the way, that note was put out by them yesterday morning. And what happened all day yesterday? From the time they put out that note, Bitcoin on its own was up 10%. So they can point their clients to that and say,

hey, guys, we told you what to do. Why didn't you do it? We were so right. So what are these organizations going to do as they lean into Bitcoin working on their behalf from a performance standpoint? They're going to keep pointing to it and pointing to it and pointing to it and pointing to it. Right. And again, growth, growth, growth, growth, growth of the scale and ecosystem. I still can't get over the fact that even the most bullish crypto bros on the planet thought that we'd have five to 10 billion in inflows for the spot Bitcoin ETFs in the first year. Yeah, we are five X that already. That still blows my mind. It doesn't blow my mind.

And I'm going to tell you why. Because if you feel like it, it would have been hard to predict. But in hindsight, it doesn't blow my mind. Because what was the biggest before the ETFs happened? What was the biggest complaint, even in amongst like individual Bitcoin holders, how clunky the technology was like it's, you know, if you're a layman and you're dealing your with your seed phrases and even if you're dealing with transactions and you're sending bitcoin it's a nerve-wracking endeavor right if i send you bitcoin right now i don't care how seasoned you are you're sweating bullets until the other person goes oh but the chain is recognized and i remember in the last bull market it could take 24 hours. Yeah, exactly. You don't know. It's an indefinite time period based upon demand and the 10-minute curve, basically.

So bottom line is, I don't think we're even, we haven't scratched the surface. The ETFs are providing an ease of use that allows corporations, allows pension funds, everybody that wants the exposure for long term that isn't even thinking about what's the price of it today. They're just thinking about, I need exposure to this asset class. You're talking about the easiest way to get involved in Bitcoin that's ever been created. That on-ramp is the smoothest on-ramp. You can take it at 110 miles an hour and there's no bumps and no bruise. I mean, it's easy. So I think the ETFs are providing that to the world in a lot of ways.

And if you take both experiences, if you go buy an ETF and then you go buy physical Bitcoin and you want to take self-custody of it. Totally different experiences. I mean, radically different experiences. Well, so many people still, even to this day, when they're moving Bitcoin wallet to wallet, they're going to send, you know, $50 first to make sure. Nobody does that. Nobody does that when they send $10,000 to buy a spot Bitcoin ETF. Nobody does that when they send a wire transfer.

If you stay up on what's happening in the hacking world, it's scary, man. You can send the test transaction. They'll generate an address that has almost exactly the same, just like one difference in the middle. There's like three digits that have changed right in the guts of the address. So if you check the last four digits and the first four digits, you're thinking this is gravy, boom, you send it again, your money is gone forever. And so think about you can't build

a financial system on stuff like that. That's that's too much risk. There's too much finality. We love Bitcoin because it's instant settlement. Well, part of the benefit of our system is, is that when there's errors and omissions, that there is a lag to that settlement. So we can go in and make changes. Right.

And so if there's a if you look at Bitcoin as being layer one, who should be holding Bitcoin in their mind? The experts, physical Bitcoin. And then the next layer is you hold all of our products that make you feel like you're holding Bitcoin and give you the returns of holding Bitcoin. Well, this was mentioned on a conversation you and I had maybe a couple of weeks ago, Tillman, that nobody holds physical stock certificates anymore. No. It doesn't exist anymore. It existed 50 years ago. You'd get a stock certificate from your grandparents for four shares of Disney and you'd hold on to it. But none of that exists anymore.

It's all custodied by banks and entities that do that. And now it's, you know, completely and utterly digital, right? When I was a kid, they used to give us, like, as a gift, like as a birthday present or something, like for a big event, those bonds, that was like a $20 bond. You bought for $10, and then, like, you have to wait 15 years to go cash it. It had to be worth $30, yeah. And yet they're physically like, if it's gone, it's gone.

I mean, bearer bonds. Absolutely wild. The point being that when we were still holding individual paper stock certificates, the stock market wasn't at the place it's at now in terms of

price, wasn't at the place it was now in terms of liquidity. That's where we're headed in terms of Bitcoin. We're moving away from stock certificate space associated with the way that people hold Bitcoin into an entirely new world. Listen, when Jeff Park talks about products around Bitcoin being created where you can get an annual 14% yield based on collars and stuff that are put together on the high side and on the low side. So you're going to get potential price appreciation. You're significantly protected to the downside.

And overall, it's a 14% type of product. That, just the amount of that that they're going to sell to high net worth and ultra high net worth clients at Morgan Stanley and Goldman Sachs will blow everybody's mind. It will just blow everybody's mind because that type of client wants that product. They don't even care how it's made. They don't want to cold storage Bitcoin. They don't want to hold spot Bitcoin. They don't want to deal with Gemini or Binance or Coinbase. They don't want to do any of that, but they do want to have some exposure to the asset. And that type of product will sell like absolute crazy at those organizations. And it's coming and it's coming fast.

Yeah, the options are going to be huge. Obviously, new wirehouses coming on is going to be huge. I think you and I have talked about so much, Andrew, but people take for granted that probably at least 50% of investors don't even have access to any of this. No. It doesn't exist. But then you talk about all the like ways that institutions

are going to be able to trade this that are going to sort of buoy the market and they're coming and there's a few articles about it already bloomberg bitcoin hedge funds just about risk-free trade is roaring back i left that just about risk-free trade they're obviously talking about cash and carry or the uh the basis trade which is basically you buy spot bitcoin and you short outdated futures at a high price and you collect the yield in between. Right now, that yield from CME, if you're buying spot because of this huge pump, is 18% with the fund contact basis

for CME listed Bitcoin futures, which outstrips the basis on other derivative platforms. The Falcon X is one of the larger institutional desks. They're saying they're seeing a ton of interest in it. Now, many of you may remember that this was actually the widowmaker of the last bull market, but that because they were doing it with GBTC, which was also trading at a premium itself, and it was basically the double death carry trade, and you

couldn't get out of GBTC for six months. So when it went to a discount, anyone who was locked in, it was completely fucked. Not the case here. This is a much safer thing. But you can see institutions are actively finding ways to get much more involved in the creative trading strategies. Bitcoin options show traders betting on $100,000 by year end. Now that's the largest wager for the December 27th expiry. This is a lot of institutional traders. So there's a lot of action in the options market and people finding creative ways to

attempt to make money there. Right. And this just lends to all the things you're saying. You can't even do most of this yet and 45 minutes in total, you know, Bitcoin has been down to 84.5 and back up to 86.5 and now sitting at 85.5, right? It can't be overstated what Wall Street likes to do with that type of price movement. They see that type of price movement and they just start rubbing their hands saying, oh, boy, there's a lot of stuff that we can do. And you just described it in that Bloomberg article. You're now looking at an 18 percent spread between spot and futures. That is a massive number. Massive, massive, massive number.

Tell me about the spread between in the oil market. It's it's nothing like that, but it's still traded billions upon billions upon billions of dollars every day. Well, here's the reality. The richer you get, the more money you're trying to place, the harder it is to place it. So the most attractive places to place that type of money is an arbitrage place because you're supporting both sides when you're entering. You're going in short and you're going in long, but you're doing it in a way that has a multiplier effect or more profit potential on one side than the other. So you're hedged at entry, but as the price

expands from that point, you're betting on a direction, right? So the more money you have, the more you have to spread it out. Now, if I'm spreading it out across an asset class like Bitcoin, how many vehicles I can load with cash is the only thing I'm worried about, because I'm not even worried about... Do you remember the days where we were beaten on the drum of how great Bitcoin was? And the common sentiment in Wall Street was kind of like, it's the tick on the elephant. You know what I mean?

Like, come on, guys. That market's tiny. We can't even get excited about that market because it doesn't have enough juice. There's not enough size. There's not enough size. Like not even worth, not even worth paying their staff to move the amount of money that they

could. They can't make it up to make it worthwhile. That's exactly right. So I look at that as like, okay, they want, they, those people walk into a casino.

They have so much money. Even if they stand at the blackjack table and place all bets on the entire table, they still can't place enough because the table maximum is and place all bets on the entire table. They still can't place enough because the table maximum is pinching their bets. And they can't buy every table on the casino floor because the casino won't let them do that. So what do they do? Well, they start making side bets. They find another rich guy in the casino and they start betting on table action, but they're not having to stand at the table and take up a seat. You can do that an infinite number of times and place as much

money on that table bet as you want. But the casino never knows how much money is being placed and there's no way somebody can stop you from placing the money because it's a side bet in a derivatives market. The more products we have like that, the more money is going to be sloshed around in this market because that's the biggest arbitrage play that will exist. And that's how the biggest money gets excited. That's their whole game. Yeah. I mean, speaking of the biggest money and getting excited, MicroStrategy buys $2 billion in Bitcoin, which is $23 billion. So first I saw, I think that Tesla's stack is now worth over a billion dollars, which I think is notable, right?

Not a tick on an elephant's ass quite yet. Maybe a tick on like a rhino's ass, right? I mean, still relatively small relative to what Tesla's doing. This is the biggest buy that MicroStrategy has made since December of 2020. Buying Bitcoin here basically from October 31st to November 10th, an average price of $74,463. People at that point would have screamed, holy crap, he's buying the top, right? And once again, it goes rocketing past.

And now MicroStrategy has doubled up on their Bitcoin investment, even buying every single top, as people love to point out, all the way up. It's a good segue into dollar cost averaging Bitcoin, guys. I don't know why I would want to make that segue. I'm just saying. Before we do that, though, it has to be so people know, yeah, Saylor is buying more Bitcoin and more and more of it as he moves forward. But go read his tweets. What is he talking about? Just as much besides just purchasing Bitcoin.

He keeps using the word yield, yield, yield, yield, yield, yield. All right. Michael Saylor is a smart guy, but he's not a genius. OK, so that yield conversation is coming from his friends that keep lending him money to buy Bitcoin. Right. So there's a there's an end game with with MicroStrategy and with Saylor that has lots to do with that word yield. So keep an eye on that. It's banks. I mean, Bitcoin banks are here to stay and people are going to define themselves as Bitcoin banks to take the market share that comes along with that definition. And, you know, I think you talk about derivative plays on Bitcoin. Every equity that puts Bitcoin on their balance sheet becomes a derivative play of Bitcoin.

Because if you have a CEO that knows how to make a lot of cash and has a huge commitment to converting that cash to Bitcoin like Saylor does, then you're going to see exponential returns that are disproportionate to their real world gains or their profits because of their stance on Bitcoin. And conversely, if you see people that hedge against it and have a very modest stance on it and the price crashes, they're going to be the heroes. And everybody's going to have to figure out who's the best people at that game and playing that field and really allowing the layman. Like if I'm looking at, okay, well, I've missed the Bitcoin boat. If I don't have any Bitcoin right now and I go, okay, how do I play the game? Well, the next unknown micro strategies would be the game I'd be looking to play because there's going to be a company that

redefines themselves. They're probably, you know, needing market share up against a huge competitor, whatever the reason is, they're going to put a big chunk of Bitcoin on their balance sheet, and they're going to open up for the public to come fund that effort because of their conviction around Bitcoin. And that's going to be the greatest debt mechanism that they're going to be able to lean on for their operational expenses. And at the same time, the end user or the investor is getting what they want, which is exposure to Bitcoin in a way that's not already priced in. And so, yeah, this is going to open up a whole new functionality for everybody. Now, listen, we could have all made 1,000 Xs on cat face dog boy asset crack.

Right. But we didn't. But we didn't. I missed. I personally did not correctly choose the one out of 6 million meme points launched on Samana in April that pulled a 10,000 X. But I think it's fair to say that collectively here, we're less on the speculating for 1, thousand X's and very happy to be Saylor, right? And to buy an asset that will continually go up over time and slowly accumulate massive wealth by doing so. And you guys have built a tool that's going to allow people to do that in

the most efficient manner possible, which is the Bitcoin algorithm. Now I've got it pulled up here. Obviously, spoiler alert, we're going to New York, I think a week from today. Yeah, a week from today. Tellman, are you coming? I don't know. I might come. It depends. I don't know what my schedule is looking at. Tellman's coming. So the three of us are going to New York, just like we did to the Texas game this weekend. Tellman didn't show up. We're going to New York. We're going to the... We're allowed to talk about it, right?

Yeah, we are. We're going to the Gemini offices. We're going to be sitting down and doing a bunch of interviews with potentially very tall people that are twins. Not to say that's going to happen. Potentially tall people that are twins that have been featured in movies about social networks.

They're tall. And others in their offices to talk about exactly this. So listen, I think we all have seen in real time the power of dollar cost averaging Bitcoin or dollar cost averaging anything, right? I mean, the smartest investors in the world are the ones who are just like dollar cost averaging spy for their lifetime and their retirement account, right? Because you're probably not going to beat the market. But there's nuance here, which is that depending on your timeframe and how long you want a dollar cost average for, if it's by the minute, the hour, the day, the month, this algorithm will get you effectively a slightly better price over time, finding the best time in that time period to dollar cost average. And over time, that's going to be a meaningful amount of extra

gain because you've bought it at a smaller discount each and every time. We couldn't be more excited about this and a feature that we haven't talked about yet, but we can talk about here in the show is you're going to have the ability as a user to create what we call multiple instances. So you're not going to be able to just click a button and buy Bitcoin every 30 minutes. And that's all you can do with this tool. Using this tool, you'll be able to set it to buy every 30 minutes. And then if you want to buy twice a week, you can also set that instance. Or let's say like we have clients that are very high net worth and they want to push fiat into Bitcoin. And so they'll sell one of their vacation houses.

And when that house sells, they need a purchasing schedule, an instance to place that capital. And instead of just like throwing it at the wall and hoping that they're buying it at a good price and that their entry is prudent. This allows them to say, okay, I made this much money on the sale. I want to allocate this many dollars and I want it to purchase this frequently over this time period. And that would be an instance. And then you could have five other instances. They're allocating other capital that came from other sales or a more of a savings type of an account where you're taking a portion out of your paycheck. And so you can layer your purchases in a

way that give you the smoothest entry curve that you could ever produce yourself. A more disciplined approach is always going to give you a better outcome. And so if you talk to anyone about like, how do I pick, if I have a million dollars to place to anyone about like, how do I pick if I have a million dollars to place into Bitcoin right now? Well, how do I buy it? Do I buy it all today and, you know, put myself at risk for price fluctuations? No, you don't. You buy it in small chunks and you do it based upon when there's dips. And so this algorithm is going to provide discipline to everyone so that we can all avoid what we've all experienced, which is the regret of knowing about Bitcoin a lot longer before we acted on Bitcoin. And so this is going to be something that's going to set it and forget it and lets you put in the instances that you want and then put it in the background of your life. And over that period of time, whatever your desire is, you're able to customize it in

such a way that at the end of that period of time, you've accomplished your goal. It's like setting up a daily training session with a personal trainer. If you go and do that every day, at the end of the timeframe, you're going to be in a lot better shape. Well, this is having a trainer that's doing the work for you in the background and you're not even having to come to the gym anymore. You determine what your budget is on the front end and boom, it's working in the background to accomplish those goals for you. Imagine if I could just get jacked by sitting on my couch and letting somebody else do it. I roll out like I'm all of a sudden like 6'12",

like Bill Mann or whatever, and I'm a super fucking dude. I'm like, what did you do? I'm like, someone worked out for me. That's exactly what this is like. It's the ability to set different individual buy schedules very, very different than the ability to buy once a day from all the exchanges that exist out there, whether it's Coinbase or others. You know, they have programs where you can buy, you know, once a day or once a week or once a month. This is this will include the ability to buy down to every minute. And then you're intelligently looking for the best entry inside of that instance.

But your ability to then set up five different sets of ways that you want to buy Bitcoin and then connecting that to a total amount of capital on a daily basis or a weekly basis. It's just going to be a very, very unique tool that's going to act as a scalpel for you to stack sats as opposed to a hammer. Yeah, I'm going to pound on Coinbase once a week. You pay like what? One percent. I mean, something. Yeah, this is this is the lowest fees in the industry. That's why we're with Gemini. They've given us 40 basis points. So you can't beat that on from a entry and exit perspective. So it's a 0.4% entry, essentially, from a price perspective. Hey, guys, is ArchPublic available to users outside the US? Absolutely, we are. Yeah, we've got a lot of clients already taking advantage of our algorithms

from different markets, different regions. My favorite part about this is that we can finally really talk about Bitcoin here, right? Because the arch product has been so insanely popular with obviously like my audience or largely your customers, and they're obviously moving serious lives. It's been trading stocks, right? We've talked about Bitcoin endlessly here, but this is finally really, I think the product, A, it's a hell of a lot cheaper, right? But B, this is the one that I think most people here would likely be interested in.

I can't imagine anyone watching this show is thinking, fuck Bitcoin, right? Well, we believe in it so much. We're doing, because of our launch with Jim and I, we're doing a three-month free trial for anyone that wants to try it. So we're putting it right out there for everyone to evaluate for their own purposes. And if it's something that you find valuable as a tool, then you're going to continue to use it. And if you don't, then no harm, no foul. You've at least seen the other side of the curtain. And give us feedback, good, bad, or indifferent.

We'd love to continue to build our products into something that really makes the market sing. When you guys take a look at the site quickly, thearchpublic.com, which you can see here, you go down here, three paths, you can click on Bitcoin algorithm there for learn more. It'll tell you everything you need to know. And then you can scroll down obviously here to get started, right? Yeah. And some of the things that we've included in this product is you can have it to where it's a predetermined period of time that you buy. Every 30 seconds, starting now, every five minutes, starting now, every 10 hours, starting

now, you can set all that if you want just these arbitrary time periods. But there's also a feature called the buy low. And if you check that, it's essentially going to wait for large dips in the price and then buy. So there's some intelligence behind the buying to the algo as well. It's not just the random time periods that you can program in. So we think there's a tremendous amount of value in terms of having the algo watch the market and take advantage of those dips versus you having to wake up at two in the morning and try to do it yourself yeah i mean you're never going to beat an algo like this listen there's trading algos that are jacked up and people you know wake up and it's all sudden how to get liquidated but it's

literally just buying bitcoin at better prices okay so that. I don't really see how you can argue with like, I want to get $100,000 of Bitcoin. Do I want to try to do that myself or do I want to do 2% better over time by allowing machines to do it for me? This actually seems like the most compelling use case that we have pretty much for using an algorithm. Well, here's the thing.

The flash of algorithms typically is those scams that are like, we're going to make you X number of dollars. It's guaranteed. We're printing money, blah, blah, blah. There is no such thing as that. Every algorithm is about seasons. And some of them last a very, very long time. But what you're going to get with this algorithm is, is if your intention is to own more Bitcoin, you're going to be able to own more Bitcoin. This is going to buy more Bitcoin for you and do it at better times and better rates than you could yourself. And so when you look at what defines success of using this algorithm, it's you accomplishing your Bitcoin holding goals. That's really what it amounts to. And that question there was, is it for Bitcoin only? I mean, I know it is for now, but in theory this technology could maybe in the future, potentially possibly use for almost any asset.

We are, it actually is ready to go. When we launch, if you go into our highest tier concierge level, you will have flexibility across um pretty much anything that jim and i trades yeah and uh at some point maybe etfs as well maybe yes the answer is absolutely yeah no it's it's a quick we're we're soon um gonna launch that we just want to get the first spot one done first but absolutely the etfs are going to be we're proponents we're trying to take um a page out of the the other folks playbook which is let's make bitcoin as easy to deal with as possible let's make it purchased through automation let's have folks like the winklevoss twins uh custody it for us because they obviously know what they're doing.

So it's one of those things like if we if we focus on that, we're going to have more and more people participate in the market. Yeah. Any final thoughts, Andrew, before we jump here at 951? No, I think that's it. We're we're, you know, not surprisingly, when the when the markets and folks like Larry are, you know, finally get to the office and put his hands on the wheel, you know, we're up two thousand, you own it, smart about how you acquire it. And our firm is going to lead in giving people the opportunity to not only own the asset, but then multiple products that will give the opportunity to play both areas

of how Bitcoin moves in the future. And so exciting, exciting times. It's very exciting times. And this is not financial advice. None of us are financial advisors. But I will tell you this, a way to de-risk getting into Bitcoin if you're currently not in it, and you want to get into it, is go earn Bitcoin with your sweat. Go earn some money and put that into Bitcoin. And then it's just found money. It's based upon you wanting exposure to this.

And then if you lose it, it's not that big of a deal because it's not your primary income. You think I'm going to work? This isn't going to work? Come on. If anyone wants to know why you need to dollar cost average into Bitcoin, I'm just going to keep showing this every day because it's fun.

U.S. national debt about to be 36 trillion. Five nine ninety two five fifty nine and counting up. That's irrespective. Yeah. Irrespective of Republicans or Democrats, that number never stops going up. That number never stops going up. Now, with Elon involved in the doggy branch of government or whatever it is now, that may slow down a bit. But again, that number is not going to stop going up. The velocity of it may slow a bit, but it's still going to keep going up. Listen, even that's just a narrative.

The truth of the matter is, if you're a politician right now, you know the disruptive functionality and capabilities of AI. AI is going to be so disruptive to the efficiencies of this world, and it's going to create so much value. We can print to infinity and still not catch the GDP potential of AI. But I'm not worried about inflation. I think, you know, here's there's two schools of thought about inflation. One school of thought is is cut your costs. The other school of thought is sell more product, grow your top line. And Americans are much, much better at selling product and growing their top line than they are at cutting their costs much better. So you know can

we cut our costs to help yeah but the only thing that's going to get us out of this hole is doing what we're doing with bitcoin and what trump's saying he's going to do with bitcoin i don't know what interview he was but he said something that let me know that he understands the game which is he said something along the lines of we're going to do a national strategic reserve fund and we're going to use bitcoin to pay off our national debt he said those words now how does bitcoin check i think that's well exactly how he did say that right a little bit going check so a little bit going check so if that's in his brain how does that how is that accomplished the price has to go to the moon it has to go to the moon and who doesn't care if he's printing dollars to buy bitcoin he doesn't care what the relative cost is he's dollar cost

averaging the country into a position it doesn't matter if it's at 150 250 85 or anything in between hey scott you notice you notice the the the underneath me, at least on the screen, how much he enjoys long-form interviews versus short-form interviews. Has that made an impression on you at all here? Yeah, we're going to be here until noon. Is that what you're saying? You can't be like, tell me, let's do five minutes. Is that what you're saying? No, yeah. Short-form, he's like, what what are we talking about what are we going to talk about today i'm like well especially at seven in the morning my brain didn't think earlier for you yeah i mean that's fair that's fair all right well i do have to go because we're actually at time here guys once again thearchpublic.com

scroll right down the bitcoin algorithm learn more uh beyond also just the insane performance we tell you about of all the other algorithms and and products that they have uh i wouldn't be stumping for this so hard if i didn't really believe in it not really my thing so um you know in general to uh push push things that i don't like so that's all we got for you today andrew tillman thank you guys so much uh see you at 100 grand next tuesday maybe yeah all right let's go all right guys see you on space let's go