The Wolf Of All Streets - Massive Bitcoin Volatility Ahead! Will $31B In Options Spark The Next Rally?

Episode Date: October 28, 2025

Bitcoin braces for volatility as $10 billion in options approach expiration, potentially triggering major market moves. Meanwhile, IBM launches a new digital assets platform to help financial institutions enter the blockchain era, and U.S. lawmakers debate banning politicians from holding crypto after Trump’s pardon of Binance founder CZ. Elsewhere, Hedera’s HBAR token surges following the NYSE listing of the first-ever Hedera ETF, even as government uncertainty looms. With institutional activity shifting and regulatory tensions rising, the crypto market could be in for a defining week.

A record, $31 billion in Bitcoin options are set to expire on Halloween this Friday, meaning there could be a hell of a lot of volatility coming. Well, it'll be the upside, the downside, or a complete snooze fest as most of these situations tend to be. I'm going to unpack that and everything else happening in the market. And, of course, update you on how amazingly well my arch public portfolio is going. We got Andrew and Tillman. do it.

Good morning, everybody from Not So Sunny, Las Vegas at 6 a.m. I'm here for Monday, 2020, leaving today. And as you can tell, we have incredible lighting in this room. Tellman told me I looked like I have jaundice. to which I told him the entire room looks like it has jaundice, so it's not just to be, at least. But yesterday I met a bunch of people at the conference who were like, we watched Macro Monday. Those curtains were horrendous.

So I went to the other side where you can't see the horrendous curtains behind me. They were all yellow. Yeah, I mean, I do not look good. This is nuts. It almost looks like I'm in black and white. I don't know what's happening. I'm not a producer. I can't adjust the camera.

Well, he knows for being up at 6 a.m. Vegas after money 2020. That's what's a.m. you say. Funny story. I got up at 3.30 a.m. this morning because I popped up. I saw a text and I was like, okay, I'm awake now. So I wrote two newsletters. And then I did what any self-respecting, lonely guy in Vegas would do at 4.30 in the morning. I went down and got a cup of coffee and played craps by myself. And I had one of the best roles of my entire life was there for about nine minutes, hit about six points, a couple numbers, and went back and wrote some more newsletters. It was amazing. So I'm having a better morning probably than everybody else who's listening. But let's talk about what's going on here,

obviously with Bitcoin. We're trading at, I don't know, 14,000. Can't even see it, $616. It's a pretty good price right here at the 50MA. Like a lot of depression for 115 $13,000-dollar Bitcoin? The Bitcoin pump over the weekend is often met with, you know, some downside on Monday because the futures aren't open. And, you know, that's where the big boys play is they play when futures are trading together with, you know, spot Bitcoin. So the fact that it held up significantly and maybe even a little bit went to the upside

is, again, it's emblematic of we're in, you know, Q3. Q4 when inflows will just continue unabated in an automatic way. So you may get a pump that in earlier years was one that would be hammered pretty hard at the quote unquote open of markets. But we live in a different time now where, you know, a Bitcoin ETF is a well-known commodity and is used by, you know, millions and millions of investors at this point. So different, you know, just a shift. it's another it's another marker in the shift of a bitcoin price action we had the largest drop in

crypto history last week or week before last it triggered so much liquidation i think 18 billion plus dollars yeah it was 19 billion on that day and it's over 25 in the entire event if you count kind of the action after it's crazy the fact that we moved basically nothing i mean we not even 2%. In the grand scheme of things, I think is like Andrew's saying, incredibly bullish, incredibly strong. If you look at the chart that you just pulled up, the thing that I always look at, everybody wants to look at the price action, but just look at that red line under the price action. That's the average. The moving average moving up at a 45 degree angle is a good sign.

And as it approaches the blue line, if we've got a crossover, we're going to be looking, you know, really, really strong going into Q4, which I think, you know, that, that engineered drop or the liquidity event that we had from 126 all the way down to 102, that that allowed a lot of positions to be taken that now are on the books, that now people want to see the price appreciate because they actually own the Bitcoin. And that was a lot of Bitcoin. going. So I would anticipate a new pricing level to be discovered here pretty soon. That's my anticipation. The audience is saying I look like I'm in an RV. You live in a van down by the river. That's right. That's me. I live in a van down by the river. Some context to you know historical charts right so there's a reminder that during the great financial crisis the the s&P bottom that like 667 and where is the s&P today it hit another new high yesterday at

you know 6700 in change um that's a you know that the the amount of capital that had flowed over that those period of years if you if you map that over or what Bitcoin should do over the next three, five, eight, ten, fifteen years. Nothing should shake you out of your position, like absolutely nothing. It doesn't matter what the headlines are. It doesn't matter what the price action is. We've said it a bunch of times on this podcast. Every dip in the history of Bitcoin has been for buying, literally.

And so when you see downside, it's an opportunity. when you go to, you know, how badly would everybody want to get in at 107 right now when we're at 114 and change? Everybody would love to do that. You know, I post about every two or three days how long Bitcoin has been above 100K. I think today would be the 173rd day over 100K. That's nearly that's nearly half a year, right? That's nearly six months. Just a massive shift in what Bitcoin is and where it sits in the greater financial lexicon of how people see it and talk about it. There's more to go, though, right? There's a lot more space for Bitcoin to take up as per your conversation with Michael Saylor yesterday at Money 2020.

So Money 2020 is a huge, huge event in Las Vegas. But Sailor wasn't, you know, standing on a pedestal evangelizing Bitcoin for Bitcoin's sake. He was talking about debt and yield products associated with his Bitcoin stack and micro strategy. So, you know, point being is there's there's more to go. There's more adoption to still happen. There's more understanding to still happen. A conference like Money 2020, you would think they would have figured it out. But if Saylor is sort of soft peddling it a little bit, then you know there's more to go in terms of people that end up allocating to Bitcoin as an asset.

Yeah, it was a really interesting conversation with Saylor because, as you said, he didn't focus on Bitcoin. He did not focus at all on micro strategy stock. We just basically, after giving the very quick intro as to why Bitcoin talked about STRC, STRK, STRD, and how he did. has created this like tiered volatility debt, you know, credit instruments that you can just go get 10% highly liquid and not have to deal with United States Treasuries. And it was really, really compelling. People loved it. I think he orange-pilled and a digital credit pilled a hell of a lot of people in that room.

It's pretty compelling. And it sounds to me like what we've been talking about since day one with him is coming true. He's setting himself up as a Bitcoin bank. And, you know, there's so many ways, Bitcoin has been so powerful as a wealth creator. And he's proven through multiple other speeches and presentations that Sailor's done that even the Magnificent Seven can't keep up with the performance record of Bitcoin. So one would assume that there's a lot, there's a huge audience of people out there that don't care to understand. Bitcoin, but they understand yield and they understand debt and they understand putting large amounts of money into flywheels that play arbitrage essentially.

And I think he's appealing to those people without having to orange build them. And no different than I think some of these big exchanges that we're going to see pop up that will be built on crypto and have crypto. I don't think a lot of people that use them, you know, even years from now, if they don't use the crypto functionality of it and don't really, you know, investigate and learn for themselves what crypto is all about, they could be using the set of rails without ever knowing it. And they could be buying tokenized S&P 500, tokenized NASDAQ. And, you know, there's a large portion of, I think, the world's population that will continue to be slow to adopt it. but it's integrating into the fabric of the financial system. And I think Saylor is now able to speak on Tradfai principles and Tradfai without going into the whole crypto thing.

So just think about how flexible that type of a message can be and the fact that he can go be the keynote speaker at the Bitcoin conference and get all of us excited about what Bitcoin can do. But at the same time, go speak to a bunch of Tradify guys and get excited about debt. Yeah, I went up to him in the press room or something, you know, a couple hours before the talk. He was staying there talking to McKenzie from CNBC, like the anchor. And I just kind of went up. I said, hey, man, what's going on? You know, looking forward to it today. And she's like, are you going to, are you going to roast him?

I was like, no, no, I'm not going to do that. But then she was like, come on. And I was like, no, yeah, I actually decided I'm just going to ask him entirely about XRP. He died laughing. I was like, yeah, I'm just going to ask him, you know, about. the future the financial system being built on obviously ex-rp rails and we were laughing you didn't know what you were talking about but then no he knows and then he said to me actually if we had a conversation about certain parts of the alt coin market i think you'd find me more constructive than

i was in the past well well i don't know if you've seen he's he's praised tom lee to some degree and you know i think uh the mentality is broadened on his side like i don't think he's going to be buying Solana anytime soon, but I do think that, you know, it's not all or nothing Bitcoin, even with some of the more ardent people. Andrew, at the very beginning, you mentioned, obviously, this sort of structural bid. Right now it ain't on Bitcoin. It ain't coming from treasury companies. This is from our friend David Young at Coinbase, the whole article on it right here, but basically saying, you know, Coinbase says Bitcoin treasuries are ghosting, but two firms just bought 205 million. Of course, that's American Bitcoin, which is Trump. And strategy bought

390 Bitcoin yesterday, bringing them up to 640,000. But when you look at this chart, that dark blue right there is Bitcoin buying. It doesn't really exist from digital asset treasury companies right now. Right. I kind of asked him about that privately. I've had 10 conversations I had dinner with James Lavish last night, I think it's fair to say that a lot of these were fly by night, not maybe prepared for the future. They all smash bought Bitcoin with every penny they had and can't even buy dips, which is pretty freaking lame, if you ask me. Like, they should have, every Bitcoin treasury company, if it was well managed,

should be doing what Tom Lee has been doing with Bitmine, which is just smashing the dip for the last two weeks. yeah Tom Lee's a pretty sharp guy I mean you know he's pretty good at this yeah whatever he and sailors pretty good at this maybe those guys are different than everyone else yeah he's been he's been doing it a long time and not only you know is his firm as well known as as any analysis firm on the on the actual street not the crypto street but the actual street but he was a he was an operator at jp morgan for uh you know almost 20 years before he started his firm So he's the real deal, and his hair is extraordinary on top of that. So, you know, following, you know, Tom Lee's moves and then, you know, making some decisions of your own is never really a bad idea.

And then the comments, can't remember the last time Tom Lee got something, right? Yeah, I mean, that's just the most correct person on Wall Street. He's the only, he's been the mega bull through every call for a recession or depression. maybe he's not right about like bitcoin's not a billion dollars today or whatever hyperbolic targets but directionally i don't think there's anybody who's been more right but his his hyperbolic targets have all come true except probably the last one right so over the last like eight years he'll have a new price target it may not meet the date and time exactly the way that he wants but like six months later it actually meets the the price target right so yeah he's

Yeah, he's been right again and again and again and again. And what is his foundational philosophy? Hey, flows are not going to stop. Demographically, people will not stop putting money into the market because that's the way the market works right now. So it will go higher. And any asset that is attached to that machine is also going to go higher. So, you know, it's not really all that difficult.

It's just he's really good at talking about it, right? their thought leaders. And like you said earlier, there were a lot of, I think, imitators that maybe came into the space. Some not imitators. I think there are a lot of the treasury companies. It's just a matter of time. Like, will they survive, how they survive? I think it's tricky right now, you know, specifically some of them trading below MNAV, like MNAV of ones. And some of them trading way below an MNAV of one. And, you know, a lot of people look at that machine that, that Taylor's built and have misunderstandings about it. You know, I talk to people all day long that say, well, he's smash buying at the top. Why shouldn't I? They literally tell me that. And I'm like, well, he's borrowing money to buy Bitcoin. And he gets to borrow the most money when Bitcoin's at its highest.

Do you get to borrow more money when Bitcoin's at its highest? No. Oh, well, then you shouldn't be following what he does. He's doing it for very specific reasons. A lot of people don't know that. And I think getting into the game is a lot harder than talking about getting into the game. And, you know, look, I remember like it was yesterday, we were at the Bitcoin Conference one of the years. And everybody thought Sailor was going bust.

Remember? It was like 17,000. If it hits 17,000. Oh, it was every price. Yeah, every price. Like 29. It was like 27. He's out.

24. He's out. 21 is definitely out. And he was like 3,500, I'll start to maybe have a problem. He literally was saying it. And so you look at that story and you go, did he dodge that many bullets or is this that bulletproof strategy? And time will tell.

We don't know. Either all of these other treasury companies 10 years from now are going to make us all regret talking bad about them and they'll be huge and Bitcoin will be 13 million a coin and it will be a can't miss situation or it's going to take some real navigation skills to get the Bitcoin company that you're running, or treasury company where you're running to look like sailors. And if you look at sailors history, one would tell you that you're going to have to dodge some of those bullets. Maybe not all of them, because you've got some great thought leaders in front of you that you can, you know, learn from. But some of them are going to

hit. And trading, I don't know how many times we need to go back and probably look at, how did sailor navigate buys during negative m nev periods like what what did he do i can't really remember me honest with you because he's been a positive mnav for well ever remember that sailor and this is the right way to do it for years and years and years was simply buying buying bitcoin with the profits associated with selling micro strategy stuff so micro strategy was a meaningful company that created software and other things that they sold to the public as micro strategy strategy. And so during that period of time, for a period of, let's just call it four to six years, he was using that revenue to allocate to Bitcoin, which is the right way to do a, you know, a Bitcoin

strategy. It's to use other revenue that is ongoing revenue to accumulate Bitcoin, not, you know, frankly, the digital asset treasury companies, which, you know, somehow raise money and then hope that additional money will be created out of thin air that you could buy, you know, more tokens with. That's not a great strategy. So he did it that way for a very, very long time until he found himself in a place where he could, you know, use the machine that is Wall Street and the preferreds that he's created, all that stuff to buy significantly more Bitcoin. So back then, to be fair, MNAV, the term, didn't even exist. Nobody had ever, nobody had created it, you know.

Well, and treasury companies didn't exist. He, you know, he created both of those coined terms. Yeah, he's, listen, again, another foundational thing, Sailor probably doesn't think of it this way, but I know that Tom Lee does, is, and he's mentioned it a time or two. When, you know, it used to be don't fight the Fed. Now it's don't fight the think, right? So if Larry's out there going crazy,

about tokenization of everything. One thing that we haven't talked about, that would be great to talk about, is what happens to futures markets when everything's tokenized and trading 24-7? Yeah, that'll be interesting. Like, are they gonna continue to exist? Like, why would they exist?

Do they exist now? Would be money. Yeah, that's a different conversation. But, you know, Larry's gonna be using Ethereum. He's- And once the perpetual swap, And once the perpetual swap comes to like tradify markets as well, which is exactly right. So, you know, if Larry's all in and BlackRock's biggest asset manager on the planet will continue to be,

then Tom Lee's like, what real risk am I taking here that Ethereum goes down a little bit? I mean, it's not, you know, there's going to be the adoption of Ethereum as a technology and as a being used across the larger financial markets. He knows that's happening and will continue to happen. So he's in good spot. You know, it's don't fight to think. So if that's his, you know, ongoing foundational pieces, yeah, he's, he's, he's, he's, let's not up a little bit. Don't fight the thing.

Yeah, you missed it the first time because you were up at 3.30 this morning, playing crap. Whatever, man. All right. I'd fight to think. That is, my question is, and, you know, not to bang on the, you know, know, the Monday guys, is McClone still in the spot where he thinks Bitcoin's going to 10,000? I want to know. Is he still there? Is that still happening?

Diverr take 10%. So it may go to 11,000 then. He's adjusted. And then, by the way, we would tell him how wrong he was. Yeah, yeah, yeah. If it went to 11, no, no. didn't get them out and you said 10 yeah oh man it's very verish i don't know he's very very well listen a lot of people are and that's what big drops like last week or a couple weeks ago do to you i mean it's it's it broke all the technical charts that that liquidity event broke every pattern almost that everybody certainly on all coin charts yeah all the coin charts specifically

And so, you know, what does that do? It sucks the life out of the market. I don't know if you guys feel it, but this week is just sapsed. I mean, most of the news articles are just total duds. I mean, it's just like nobody wants to talk about it. Everybody's gone away and licking their wounds. And, you know, that's indicative to me of a bottom. That's, that's, that is what blood in the streets looks like, you know, where everybody's back at home healing.

You know, there is no doubt that. the infrastructure that the largest companies in the world are setting up will be used that's the way i look at it it would be no different than the you know the movie uh build it and they will come if if there's a giant amusement park called field of dreams build a field of dreams yeah if you build a giant amusement park in downtown metropolitan in any city pick one people are going to show up and want to come they're going to buy tickets so you know this is just a matter of when the park opens, how many rides open, how high you have, tall you have to be to get on the ride. It's just a bunch of, you know, growing pains, essentially, essentially.

But Tom Lee, I love them. And you guys forgot to mention, in my opinion, the most convincing argument that he is a genius is that he is a pudgy penguin. He owns one. He's proud of owning one. He has an out there for everyone. I did not say that. but pudgy penguins forever

if you build it pudgy penguins he'll come that movie that movie was great man James Earl Jones that was a great movie they don't make them like that anymore like you just in Iowa cornfield shoeless Joe Jackson just out there just playing and you thought

it was about him but it was really about his dad yeah it was a story about a kid and his dad God you missed the old story was all about us okay that's right I can watch it I mean, you're talking about these institutions and this potential adoption. I mean, I don't know if you guys even saw this. IBM launches digital assets platform as cryptoactivity jobs. Like there's no company left.

Yeah, that was going to be my response. Yeah. Once IBM gets in, which is the most stodgy old tech firm that exists. I didn't even know they still existed. Yeah. So, I mean, once you get to IBM, I mean, the only place that, the only place that left is like proctor and gamble i mean you who else is going to with johnson and johnson covering heavy with a meme yeah right so so um we're there i mean everybody's doing something and

and oh by the way the shift is so big that they're kind of proud to announce it as well that wouldn't happen in three or four years ago well they're proud to announce it and even the ones that like this week has been a dead week with the exception of one headline that we've not talking about J.P. Morgan Chase allows ETH and BTC to be collateral. I talked to that. I talked to Sala about that. Yeah. I mean, it's just massive. Think about the private wealth division of J.P. Morgan. And all of those people now going, hmm, if I buy some Bitcoin or Eith, I can borrow against it. Actually, what they're saying, all the people who work there are like, God damn it, I need to cancel my golf round and figure out what the fuck Ethereum is.

use it and you'll find out real quick and you'll have a different opinion depending upon when you use it yeah that's true again the the jp morgan interest in crypto i knew at some point there would be the dam would break in terms of of customers demanding that they want this functionality yeah because I may have said it a time or two before on this show, the ocean of ultra high net worth clients at J.P. Morgan and Goldman Sachs, you can't find the size and scale at any other firm, but those two in terms of ultra high net worth. So 25 million liquid or more. You can't even be a Goldman Sachs customer if you don't have that. But J.P. Morgan's private bank division and Goldman Sachs wealth division, And I mean, when you get big money, those are the two names that you go to, right? And so those customers and those clients are like, J.P. Morgan figured out, well, they may have, you know, 47 million long with us. But about 12% of the people that we work with have another 30 million in Bitcoin and Ethereum that we have nothing to do with. So we probably should make a shift there.

We should probably change that, right? There's another interesting note asterisk to put into that. If you think about J.P. Morgan specifically, but also Goldman, their primary function through IPO launches has been to lend against share value for anyone that has substantial amount of shares. Because most of the people who have substantial amount of shares have lockup agreements, they can't sell for a certain specific period of time, and they meet money. And those banks lend against that. And they take a big cut of the IPO for launching it, supporting it, going out and promoting it. And if there's a lot of crypto companies that are going to be going public, wouldn't you think that they would need to be able to lend against crypto assets and do all of the functions that they've been doing for the Tradfai IPO space? But now for this new IPO craze that includes crypto being on the balance sheet, that seems like there's.

setting themselves up to be you know perfectly suited for that all three of us spent three days at the bitcoin conference in the bitcoin whale space which by the way was bigger than it ever has been had 2,500 quote unquote VIPs in Wales in there were there a bunch of 30 year olds in that crowd no the average age was like 52 or 54 in that crowd and I guarantee you that crowd have meaningful accounts at J.P. Morgan Private Bank or Goldman Sachs or Morgan Stanley. And so, again, it was only a matter of time until those organizations said, okay, we can make more money by offering services and products associated with that type of group. So, you know, so here's the headline jumper here that we can, breaking news, you've heard it here first.

I want to hear what the rate is. I want to hear what that loan package looks like because I want to compare it to other collateral and I want to see the evolution. If it's below market, if it's below incentives, what is it? I don't know, but it's going to be, I can guarantee it's going to be below like the crypto native lending now. I think, you know, we kind of have 8 to 12% floating rates. I don't think it'll be four or five like securities lending, but I think it'll be six or seven

if I had it. Yeah, it'll be below. Or it'll be blended with your security. Or it'll just be blended with your securities. And I mean, that's how they do securities anyways, right? It's a different rate depending on how they determine. If you're riding like a 3x Nvidia short ETF in your portfolio, you don't get the same rate as Proctor and Gamble. That's a great point. Yeah. So they'll just rate you based upon the weighted percentage that you have in your portfolio. It's the JP. It's the JP, it's the J.P. Morgan bid, though, right? So their assumption is, is that more people will bring these assets to us because they know if the world comes to an end, the one bank that won't go down is J.P. Morgan, right? So I can trust that, you know what, J.P. Morgan versus Coinbase, well, I take six and a half percent versus

nine percent, but I know if things go to absolute shit that, you know, J.P. Morgan's still going to be standing, you know, on the hill of banking. Yes. Well, but to Scott's point is most of those guys have much lower rates because they're all in, you know, bonds and pretty, pretty, you know, blue chip type. Yeah, and so theirs is going to be even less of a hit. It's not even going to be a conversation. They're going to move it this much because their exposure to crypto is going to be between, you know, 3% and 5%, let's call it. It's going to be insignificant to start, which is great. That's what we want.

You know, we want people going, yeah, sure. Let's put three. Yeah, Drew's asked if you think they'd bail out banks like J.P. Morgan. Yes. I don't even need to read the rest of your house. Yes. Yes. Too big to fail is a real thing. And I don't know if, you know, Coinbase gets that benefit of the doubt, right?

But J.J.J.P. Morgan certainly will. So we'll see. I don't know if you guys saw this, but actually yesterday, I kind of missed it because I was doing money 2020 things. But there was a salon of UTF was approved. Mistaking, H-bar E-Barr-E-F, apparently H-bar went up. That's a thing that goes up in this world. Lightcoin approved, like it's happening.

Dude, like coin's awesome. Light coin is, yes. And a light coin ETF is beyond me. I mean, I don't, I have no idea. I want to meet. I used to mine like, okay, boomer. Light coin's hot with the kid. It's like six, seven.

I didn't just say 6-7 back then I didn't know if you all knew the reference I was going to point it out I'm cool I'm here I'm Steve Bouchermy with the skateboard here how are you doing fellow kids I were all you fellow

um yeah I mean heck light coin's founder was like yeah I wouldn't I really wouldn't do light coin again I'd just buy Bitcoin I mean so one of the thing Yeah he said that yeah

But Lyquoid does have a pretty cool privacy layer, and that's a very, like, compelling thing. You know, mimble, nimble, whimble, whatever, you know, all these things. But I interviewed Charlie. Kevin, you're not. You're not getting privacy when you're investing in a Lycoyn ETF. Like, it's not. No, but it doesn't have mimble, wimble layer built in. Let's look at Zcash as an example of what that's totally, privacy is a thing right now.

Dead coin that was completely off. everyone's radar and i don't know what do scott do you know if it was tied to the whole knots uh you know bitcoin core debate or i'm gonna be honest i've had some conversations about it here i don't really know but i think just like basically a bunch of influencers are like what's some dead shit we can buy a lot of and pump yeah it seems like it yeah 360 if it went from 50 bucks to 360 bucks in like the last eight days or some short yeah i mean here's a compelling chart yeah there you go Cool. The cash.

The future of money. Yeah. I don't know. It's inferior to Monaro, just FYI. It's whatever. Before we start talking about what I actually want to talk about, which is the Algos. We've got a few stories here. French considers build to accumulate 2% of Bitcoin total supply to establish a Bitcoin strategic reserve.

It actually has a lot more stuff. That would be wild. That would be wild. That would be wild. It's not going to pass. One of the chances, none. But the fact that like this is now being proposed in countries like France shows you sort of the tailwind or the inevitability of seeing this everywhere as the United States talks

about it more. And of course as the United States just actively steals it from other countries, you know, like Cambodian, Chinese criminals. state for its history, aren't we thinking about it the right way? You know, the United States has been in the business of conquering for a very, very long time. It's called confiscating, guys. It's not stealing, okay? When you government, you confiscate things. No, you, yeah, you take claim.

You plant your flag in their 127,000 Bitcoin and say this land belongs to the United States. Should we talk about, should we talk about how amazing things are going? Yeah, for sure, yeah, with pivoting. So like, I know I told you guys and this is whatever, like my priority is not a cash balance in my account that is up. I want to accumulate a lot more coins and my baseline was smash buying at $125,000 and I will remind you that I smash bought over 30% of my portfolio over $121,000 because I wanted to get it going. That said, my Robin Hood account here, although minimally, it's up, which is just crazy with how far down we're trading on the three assets that I'm using, obviously, Bitcoin, Ethereum, and Solana. Let me dig into this. And what's also crazy, so I added 50 grand. So this is a $150,000 portfolio up slightly. But what's crazy about this is, like, I think a week ago or something, I was back down to like eight grand cash. Yeah. And I was like, damn, I'm going to definitely add some more.

And the guys were like, hold up, watch this. And now I'm at $26,000 cash because it bought the dead ass bottom of Solana and Ethereum again. And then sold it to make me more cash. And in the meantime, you can see right here, my average cost on Salada, 186, 73. It's trading at 201, made a total return of 1600. There's the equity. Ethereum average cost, it's under $4,000 at $39. 37. It's currently trading at 4140. Total returns that. And this is with it selling a bunch.

And of course, my basis on Bitcoin is 115, 634 because half the Bitcoin that I bought was like 121. So that I'll show you how exceptionally well it's actually performed like under 110. But the best part is that now when I get Bitcoin dips, it's using the cash I made from Salada and Eath to buy those gifts. Yeah, point being is not having to add more cash. The algorithms are creating that cash on your behalf that then can be used to buy more bitcoin it's an extraordinary and here's the salada like i mean it's just it's almost comical i don't know what kind of magic wizardry but like it like i just wake up i'm like oh made some money oh bought some stuff oh made some money oh bought some stuff and this is in like a really kind of boring range after a dip yeah so that's the point is that it takes trades when the trades can be taken and most of those trades uh have you've got to sit there and pay attention

in the market at a very intense level to do the calculations needed to take them. And so the yield harvesting that can be accomplished when prices are in kind of boring, trending chandals or rounding bottoms can be exceptionally powerful because especially on the rounding bottom side, you know, when you have a big crash like we saw, obviously whatever you bought up here, you're in a loss on. But typically, big, big crashes are followed by bounces. And so whatever you bought down here averages out and you're in profit on. So there's a lot of cases where you can have a big crash, but because you have a disciplined approach and you're not smash buying with 100% of your capital, yeah, you smashed

bought with 20% of your capital at the top, but that's okay. You believed in your heart, part of that decision that you made was when you ask yourself, well, how quickly do you think these assets could go up. If your answer is they could rocket 40% in the next two months, well, guess what? You've got to put your money where your mouth is if you believe that, and you've got to have some exposure, right? And so that some exposure is, you know, 20 to 30% of your capital staff. And it should be also noted that, like, there's no fees on Robin Hood, but I'm paying a relatively high spread, and we're working through that with them because they, like, I should be at a much better tier, the volume that we've been doing, just being totally

transparent with everyone and they're fixing that because i because of the API it didn't automatically put me to the other tiers and this will be for everyone so actually this performance would be probably a percent give or take better yeah you know what i find compelling about that chart that said robin hood did not go down and did allow us to buy those bottoms when nobody else could do it on any other exchange so maybe i'm actually outperforming because they don't have an order book that's getting smashed through their sourcing that liquidity so i think it actually ended up being a net benefit for being on well that that chart showed the last three the last three cells on salana look at the candles that they sold on right so those are those are those are those are significant up

candles at the top of those candles you know when when salana went you know popped on the dip and then trundled along then popped again then moved along then popped again and each time you're taking advantage of that, no matter if it's two in the morning in Las Vegas or if it's four in the morning in Tampa, right? It's just doing the work for you. Yeah, I hate to say it, but I mean, those candles are ripe for taking some profits. Look how low the volume is on them. Like, you don't, like when you have big price movements on low volume to the upside, that's a good, that's a good time to think about how much you could take off the table to alleviate some of the risk of a collapsing price off of little volume and big price movement.

Like that's a natural thing that if you're not sitting there paying attention and like I said earlier doing the calculations, it's pretty much no one does it because it's a pain. It's really hard. Honestly, though, like I said this before, if this is the if it's obviously probably exceptionally well, like if it literally just was smart enough to buy the clothes on a down candle and sell the top of,

of an up candle you'd still do so much better than a human without even the extra parts because it will prevent you from fomowing and at least you'd be there at the moment when it closed and you had some confirmation well you're in profit at the bottom on some of these charts like wait until there's a decent recovery you know then then that you'll see over a larger you know sample size of time this type of a strategy starts to shine like nothing. Nothing else. Why? Well, because it's compounding on compounding, and it's compounding at a rate that is very fast. It's a look at the frequency of trades that are taking place. Yeah. Quickly, I wanted to show this. I would love to launch Archpublic, but I'll never get the guideline like Scott gets from this company. That's what I'm afraid of. I'm a newbie to trading. I want to be very clear. I did not get special preference or treatment. If you are a concierge customer, you will get the exact same as me. And it was me who set my algorithm. of them to buy really aggressively right before the biggest gift in history. They did not tell me to do that. In fact, they will not give you guidance on the very, very specifics. They're not

financial advisors. But you can say, hey, what Scott got set up? And you guys can do it. Yeah. Well, we're going to go through. I actually have, I got to find it. I have somewhere in our email a PDF of my exact setup. Yeah, you do. Right. I asked you guys to send that to me. I know I've got that. Let me love it. Yeah, you have it. And you can go in and tweak it. And our job is to teach you how to use the software. And I will correct you on one thing you said a minute ago. We will give you the same level of service, whether you're a concierge customer or whether you're using it for free. We want you to take trades with the software. We want you to see what you've been missing out on as it pertains to automated trading. And you setting up your preferences and your exact wishes so that they can then be

executed when you're not sitting there paying attention and having to monitor the market. That's what our goal is. And so even if you have no interest in moving into our concierge division, call us, let us help you set up the free product, our free version, and you can run that indefinitely, absolutely no cost, and you can see exactly what we're so excited about. So, you know, we're going to give you as much service as we gave Scott, even if you don't buy anything from us yeah i'm trying to fight i'm trying to pull it up here um but it's really hard at one little laptop show i did it yeah we have listen we we have to give you a little you know

peel back the curtain since you've been running your portfolio we have a lot of people that are calling up and say hey just give me the milker right and we're happy you know what i sometimes my wife says that well speaking of the milker this is the milker so let's look at this uh scott wanted to set up a very... Can you see it? Like I can't join in to Zoom. No, no, that's perfect. So let's look at this. This is Solana daily arbitrage strategy. Every entry trade, it purchases $2,900 when the price drops by 2.5%. Exit trade. Sell 1,300 when price rises by 2.1%. Very easy. So if you say, you know what, I'm not getting enough trades here. I want to get more trades. Well, you would move that 2.5% to 2.3% and you get more trades because it's smaller, it's a smaller hurdle for it to reach for you to trigger that event.

That has to be a 2.5% drop on a, like we're looking at the six hour on a two. But I've got it right below on the six hour too. So I can buy more. 2.5% has to be within that six hour period and on the close. Bingo. So it's got to be a pretty bad. So what you do is is you can triage. You can set up one for 24 hours.

But let's say a price swing happens in 24 hours and then it recovers within that 24-hour period. Well, that won't trigger an event in that 24-hour candle because it didn't close below the trigger or above the trigger. But you can set up multiple instances on different time frames. If you set one up on the six-hour candle, well, maybe that one did trigger because it closed below the threshold. So there's a number of ways whereby which you can layer these to create exactly the frequency of buying that you want. But the important thing to note here is look at how much you're buying. So you're buying 2,900 and you're selling 1,300. So you have a greater than 2 to 1 bull bias is what I would call it. You're leaving more than half on the table. But if it keeps going up, I still get

the opportunity to sell more as opposed to just unloading the whole trade up 2.1% or whatever. That's right. But that available cash that you have in your account, now I can't remember what was it like $29,000 yeah let's just say you wanted more cash well then you could bump you could lower that 1300 right so that you left more cash and so you excuse me if you wanted more cash you'd raise the 1300 so that you would harvest more and that number would be higher than it is and so if you're looking at your buying strategies over the last three weeks or however long you've been active with this this batch you could say okay I want to speed this up a little bit, a little bit, or I wish I had a little bit more cash through next cycle of

events, you can tweak it very, very easily across every single strategy, and you get that specific result that you're looking for, right? It's awesome. But these are all of the strategies. So you're running a lot. That was because- Hey, guys, am I being transparent enough? Showing people, showing people exchange accounts on a live stream. I've literally gone. I won't say the word, but as, you know, from the tropic thunder, never go full read. Yeah, that's correct. Yeah. Again, the most compelling thing to me that you've said in the last 10 minutes is I was down to

$6,000 in cash and then almost immediately I had another $20,000 in cash based on what the Alco's did. It should also be notable that like when I asked about it, this is like a historic dip that I started 12 minutes before, right? So like we're going through like not. what would be considered the normal conditions of how this would this would operate. So I'm still generating cash through the worst liquidation event in crypto history. Correct. Correct. But that's yield farming. Yield farming doesn't care where it goes. It just cares

that the thing shakes like a rattlesnake tail, right? That's what you want. And so all of this volatility that's happening, either whether it's up or down, you have events taking place. And those events are in profit if you set the parameters to not sell below your cost basis. So every time you have a selling event, you know you've made money on it. And you know you've made the ratio of money on it that you've set up two to one, three to one, one, one half, you know, whatever you want. It becomes an exercise of you imposing your will on the market. And when that starts to trigger without you having to sit there and do it yourself, it's the most empowering feeling from a market control perspective that I've, I've ever gotten my hands on.

And what's funny is because of my aggressive smash buying at the beginning, which was just Bitcoin, basically, mostly. Actually, it was a bit of everything, but mostly, like my cost basis is 156. We're right at 154 now. So I haven't even actually triggered any of the selling ARB on Bitcoin, which is the largest position. So if I had not done that, I think we'd even be seeing some wilder performance here. We're walking through what so many of our customers ask us, well, you know, how does it perform in a bear market?

How does it perform in down markets? How does it perform when we're at the top? I'm nervous that we're at the top. So should I do this? Should I do that? This is a case study in it doesn't matter how or when you use our tools. You're better off if you use the tools. Forget about timing, forget about circumstance, forget about all that stuff.

You are better off if you use. use our tools, period. Full stop. Yeah, it would be, and it's so obvious that we're giving the product to you for free so that you can see that. It would be like if you were trying to hand-dig a swimming pool in your backyard with a shovel, and we showed up with an excavator and said, hey, look, these little joysticks you can move around and this whole hole will be dug in the day. And you go, no way. And I say, well, hop up in there and try it. You take your first scoop of soil and you're like, sign me up. I'm going to throw the shovel away. I don't need this anymore. You know, that's, it's very empowering and eye-opening. I mean, Solado was like 2.30 when we started or

something. Eith must have been. I'm lucky. It had to be like pushing five grand. I was like 40, 45, it might have been 47 or something like that. So I'm going to go, I'm going to do the math at some point, but I, there is no way I would have, like, I haven't. I have a, I have a, I have a done the exact map, but there's just no way that I would have, you know, 0.77 Bitcoin, 3.76, Ethan, 104 Salonah right now if I had come anywhere close to smash buying right then, which, of course, especially on Ethan Salon. And by the way, it's not just like a convenient benchmark because we were making a new all-time high and everybody thought we were going straight to 150. So, like, it's good to go back in

hindsight, I'd be like, yeah, you got the great dip to buy. I was one of those dudes. Like, I got to get this thing in now or it's not going to. work because your portfolio we're on fire right now if we pop to 150 right so it's doing exceptionally well under the worst conditions what do you think it would do under the best conditions right it just volatility yields that's the whole point of it i think one thing to point out that shouldn't be lost here is that scott is not the most focused individual i have ever that's an insults crossing my life that's an unfair assessment of All I would say it is, is that you are, you're kind of like ADD or ADHD, whatever it is.

And you're the busiest human, I know. You're literally flying all over the world. How hard do you think it would be for you to manage 12 strategies both buying and selling? If you didn't have this sitting there doing it, you couldn't is the point. I can't manage brushing my teeth on time. Yeah, that's my point. Is this allows you to be a pro? Yeah.

Yeah, it's awesome. Yeah, yeah. It's wildly outperforming. People, there's a million questions in the, Lucas in the comments. So I guess he could just answer questions for everyone. Luke obviously watches the show, but is there a minimum amount you might want to stay over for better trading? No. No. No. It's all relative. It goes, it's all relative to the size of your portfolio. And by the way, that's good because some people think that, oh, I've only got a thousand bucks. I should lever up 10x. so that I've got 10,000 bucks, this will steadily make you more money and get your portfolio up to where you needed to be without being the, falling into the leverage trap and doing it right. So no, there's no amount. But yes, you're not going to bring in $1,000 and be worth $100,000 next month doing this. No. Yeah, our critical alga does never use leverage. You would do manually, right? And that's what it is. It's about being available. It's about doing a lot of calculations and being disciplined. Software does that. And so when you tell it to do

something and the market gives an opportunity for that to be done, it qualifies for that event. There isn't a person sitting behind that button going, do I feel good? Am I tired? Am I at the computer? It does it. And it's your execution based upon what you want to have happen. And again, it's until you see it. But if you're trading $1,000, $10,000, even $20,000, $30,000, unless you're trading exceptionally aggressively, you can use our free product with no costs. And you absolutely can put that money to work. That's the whole point of our free product is to help people who can't afford the product

still get access to it and help them get into crypto in a way that's better than just them emotionally buying in and selling whenever they, you know, are emotionally needing the cash. I'm going to be honest. If you criticized me and told me I had ADD in the time since you've done that, I realized that I brought my charger over but not plugged it in. So I plugged in my charger. I responded to a text from my wife about a hotel reservation. And then I responded to a landscaping guy. Yeah, the best part about my new studio, the best part about my new studio that I'm going to be in where I'm sitting at like a news desk with a huge screen is I won't have the distractions. I won't available, readily available. But I do now know the 10 best hotels in the place that we're likely going skiing this winter.

And by the way, if you do call in for customer support, 90 plus percent of them. of our employees were customers. They have a lot of empathy for how little, a lot of folks know about crypto. They have a lot of empathy about people being tech savvy or not being tech savvy. You have no fear of reaching out and at least getting to know some of the support staff that we have

because they're some of the most exceptional people I've ever met, honestly. So we just spent a time up here together, you know, setting our course for 2026. And I don't think there was a person there that would say that they didn't leave exceptionally refreshed and excited to serve people exceptionally well. So put me to the test, call us. I would say I would agree with all that except I didn't necessarily leave refreshed. I drove back about an hour before I got home.

I had to pull over to the side of the road and I threw up. So I don't know what that says about the five at the meat. but you know that did that was a real thing yeah I'm reading the comments I just want to know which one of us is the word we can't say pretty sick of this re running his mouth and always chill then why watch right then why why chilling chilling is in flame product yeah it's free it's chill it's chill is that shilling product who is it is flame is the new hot rapper with the song six seven is lame. I don't know, man. Anyways, we've done it. Hey, guys, the portfolio is up and the market's down. Okay? Are we done here?

That's the tagline right there. Cool. Cool. Cool. Glad, glad, glad we had that conversation. All right, yeah, now we've got to run because now I have to go host Twitter spaces, which I will not at all be distracted during. I am, however, seeing it. lovely sunrise over the mountains of Las Vegas out the window now, but I'm still yellow. So we'll be back, obviously, next Tuesday to do this once again. I might be in my new studio, which might mean I can't do my taxes while you guys are talking about, never fight the think. And so, you know, quality is going to improve many multiples. Andrew Tillett. Thank you, guys, as always, great show and great insight.

And, guys, it works. The thing works. So check it out. Thanks, guys. See you. See you guys. Let's go.