The Wolf Of All Streets - Was $124K the Bitcoin Top? Or Is the Rally Just Beginning?

Episode Date: August 26, 2025

Bitcoin hit $124K last week and has been tumbling since, sparking debate over whether the rally is done.. but on-chain data and ETF inflows suggest it may just be getting started. A flash crash from ETH whale trades shook markets. In D.C., Trump’s removal of Fed Governor Lisa Cook raises questions about Fed independence, even as Morgan Stanley forecasts rate cuts in September. At the same time, crypto treasury funds from B Strategy, Sharps, and Pantera are booming but are they fueling innovation or the next big risk?

Bitcoin is showing some weakness trading at $110,000 after going down into the 108s. Of course, that means that the top is likely in, and it's probably over because people can't take when it's not up only. But we are going to discuss whether it's possible that $124K was the top or whether Bitcoin is currently refueling for another rally. Of course, we're also going to talk arch public and everything else happening in the news. Got myself, Andrew, and Tillman. Let's go. What is up, fine people of the internet verse? How are you doing on this lovely Tuesday morning at the end of August when Bitcoin is somewhat predictably retracing a bit and causing mass hysteria amongst the community.

Before we get started, subscribe, and like. That's my one time a week. I said it. We're done. Now I'm going to bring on Andrew and Tillman, who were trying to get me to buy a Porsche. No, we're trying to keep you from buying an Aston Martin or Lambo or some other car that's going to end up on the side of the road on a tow truck. Yeah, I actually heard an incredible story about Vlad Tenev, the CEO of Robin Hood,

that he had a white kuntosh, like the white kuntosh, like a one of 100 or something. And that, it, as you would expect, broke down literally on the side of the road, like the third time you ever drove it. And then the guy who came to tow it, he was like, are you sure you know how to tow one of these things? It's like pretty complicated. He goes, yeah, I do it this all the time and literally totaled it, towing it. And it's been in the shop for two and a half years. Two and a half years because those you can't get parts for, you know, that's not a hurricane or something, but still, yeah, I'm not, I'm not going that, that route. Anyways, nobody wants to talk about that except for the three of us and probably everyone in the comments. But either way, we're going to go ahead and get to the topic at hand. It was 124K the top. Bitcoin's price peak signals tell a different story. If you're waiting in suspense for an answer on, you know, the title here, 24K the top.

or is a rally just beginning. Every single indicator that they could find for this article says just the beginning. 30 of 30 indicators hint Bitcoin has more room to rise. Anyone who looks at technicals, fundamentals, pool multiple, pie cycle top indicator, MR, VRV, Z score, all the things we've made up here to convince ourselves that we understand markets. None of them say that the top is in. I'm a big fan of the Larry Fink indicator, so I don't know if they covered that one in that article, but they keep, you know, on behalf of customers gobbling up Bitcoin as quickly as they can. And I'm going to assume that they're, you know, not having conversations with customers that says, well, we think the local top is in and we're going to go down significantly from here.

You know, I've got some reply guys on, you know, my page. You're going to 22K. We're going to, you know, 37K. I'm like, are you out of your mind? That's not like how BlackRock gets down. So, you know, anytime I see that stuff, I simply just want to post a picture of Larry Think's face. The other thing that I think is important to know is,

and the Bloomberg guys put this out. I can't remember which one. But it, you know, it shows who owns, you know, Bitcoin ETFs right now. And, you know, it started out in the first few quarters, fairly institutional. But at this point, the most owned Bitcoin ETF subsection is investment advisors, meaning that across all the investment advisors were Morgan Stanley, UBS, RIAs, large RIAs, small RIAs, those that are buying the ETFs the most are connected to,

investment advisors that are buying on behalf of clients and their portfolios. So absolutely not the top. You can, you know, use the local top. Is it a, you know, it's never the top? It's just, that's the whole point of Bitcoin. It's literally never the top. So those are my thoughts. I think it's funny that we were all throwing Y2K-esque parties not but a few months ago

when we cracked the 100,000 mark. Yeah. Like it was the greatest. thing that's ever happened of Bitcoin and it's stuff. We've made it to the end of the rainbow. That was New Year's, dude. That's like 400 years. And now

everybody's, you know, mad because it's ranging between it's now new high of 123 and, you know, 109 or wherever we are this morning. It's, it's signal and noise like we always talk about. Those, you know, people who are saying

that it's the top, maybe they're crypto-O-Gs. Maybe they've seen the tops and they're terrified of them because the tops in previous cycles have been very, very difficult to catch. And so if you have that mindset based upon your previous experience, maybe that's how you live. But to Andrew's point, Larry Fink isn't a short-term investor. All the things that are coming online, all the news that you hear about every single day, they're not turning a speedboat. They're turning the Titanic. I mean, they're turning a massive boat, and it doesn't take, you know, a month to turn.

It takes years to turn those types of operations and get crypto integrated. So maybe it's the local top, but who cares is the point, you know? Try to time the market. If you think you can time the market down to this level of certainty, you know, I got a bridge to sell you. It's because it doesn't work. You know, if you sit here and say, hey, 123 is going to be our local. before we retraced to 60, you're just, you know, you're in the dark arts. Because nobody has that information.

I would just say that I don't want to run the Titanic. It was an illustration of how slow it turned, Scott. Can you imagine trying to turn the Titanic now? I don't know another big ship's name. All right, the USS Nimitz. How about that? The Nimitz is a classic, truly, truly a fan. famous in the annals of history.

Has anybody ever defined the term local top? What does that even mean, by the way? Local like this week. Is that like in, it's the top of Bitcoin in Tampa? I mean, or in, or in, you know, Colorado. I mean, what are we talking about? Like these terms are such, they're nebulous. Nobody even knows what they mean, but you sound smart when you say them.

Well, that's a, you know, I think it's a local top at 1.24. and then we're going to arrange for a while. We could go lower, and then that's how I talk in real life. Well, it's a disguised way of stating the obvious. What you're really stating is, is that it's gone down. Okay, well, great. Yeah, it's gone down a little bit. All right.

So I agree totally. It's not something to even pay attention to in my mind. I had literally no idea that Andrew was a 1930s gangster. What are you going to say? Hey, we're going to go down and get some of the point to see. Tellman did tell me that I needed to start in public earlier late last week. Well, Andrew's looking for a vice.

You know, he doesn't drink. He doesn't do drugs. He's as clean as a whistle. So I said, hey, you know, as you get old, you could get one of those big pipes, a corn cup pipe, and sit on your porch in Kentucky and, you know. They may not be drinking. He's not joking.

He's not. Dead serious. He was dead serious. Andrew doesn't need a pipe to have a vice. I don't know. I think if he came on one of the shelves with a pipe, that might add a little bit of horror. How many kids you have?

Five. With how many people? I don't want to. Let's not get into that here on the show. Wow. Okay. So anyways. Good question.

Listen, let's just say that Elon Musk is Andrew's hero. Okay. He's going Elon Musk style. Listen, I'm committed to the repopulation of the, it's important to me. It really is. So, you know, I think you made the most important point trying to restear the Titanic back to something sensible here, which is you could go lower. You know, like, who cares if 124 is the August top or the September top? I would like, I keep saying I would love to buy Bitcoin in the 90s right now.

I would love that. Well, I almost think it's almost an, I think it's an inevitable. almost. And here's my logic behind it. 100,000 was such a psychological barrier that you're going to have to retest it and not just retest it with a couple of bounces. A retest it with a dip below it that puts the fear of God and everybody. And you want to see what that buying floor looks like, right? Sweeping liquidity doesn't mean the price goes right to the price. It means it has to sweep below the price and grab all the liquidity and really take that portion of the market out. And so, yeah, I wouldn't be surprised if we see touch 94, 96, because that's a number that'll

get people's attention. They'll start bailing on the $100,000, you know, about $100,000. You haven't read the comments. It says that if we go back to $100K, it's over clowns. It is, oh, my goodness. It's remarkable. Like, if it, factually, no opinion here, if Bitcoin goes to 99,900, it's going to zero. It's, I mean, it's 99, 99, 99, 999, zero. It is something to behold, you know, we've, everybody on this show has been in the markets for a long time. And, you know, human emotions are completely undefeated. Like, they are undefeated.

nobody is nobody goes to that link that comment right like what kind of comments are you getting when bitcoin is shooting from 117 to 121 to 122 my guess is the comments are you get less comments in that type of an environment than you do when it's moving to the downside and it's and it's i mean that has happened with pricing in the markets both traditional and crypto for forever literally for half a century that's how it works and it's it's i don't know it boggles my mind that people haven't figured out figured out then when you get a comment like that i don't know i don't think he was being facetious i don't think the comment was being right he's been in here a lot he's very well if facetious or not irrespective of the comment just take a look at the

the the vibe on crypto twitter right well here here would be my point so what if we do go down? We were at 80,000 Friday, April the 11th. This thing, don't we talk about volatility literally every time we talk about Bitcoin as its key feature? Volatility doesn't just know one way. Volatility is both ways. You could add to the commentary on traditional markets over the past nine months. Like every three weeks, there's an existential crisis created by somebody somewhere and we're going lower. If you just spend about 15 minutes listen to a guy like Tom Lee, he was on the compound of friends, apologize for talking about another podcast on this podcast, but he says like V-shaped recoveries are the norm. They're not abnormal. They're actually the norm.

And, you know, everybody wants to talk about a, you know, a potential bear market. But, you know, we're in, we're in year three of 20 plus, you know, percent, returns this year we're up you know 10 plus percent it could be 20 bear markets don't happen in periods like that there there there there there's a bigger chance that we're at the beginning of another extended bull market period than a coming bear market and you know the host i would argue that we're on the verge like even even the term bear and bull in my mind talk about short durations of time, five years, four years, three years. I think the disruptive nature of the technology of blockchain, AI, quantum computing, the things that humanity is on the cusp of

integrating into the fabric of society is so groundbreaking and so game-changing and so inclusive to the world's population of people. There is no doubt in my mind that the printing presses have to keep going to include all those people have to have money to be included in our system. So if you're onboarding a rapid number of new users and you don't have the liquidity in the network to support the users, what do you do? You go get liquidity in the network. And they have a very simple method to get liquidity. They just hit the printing button and the liquidity comes out.

And so it's just like the path of least resistance and the things that they've used to control, financial markets since the dawn of time, probably going to still use them today. And there's no doubt in my mind that they're going to print a lot of cash between now and, you know, the next decade. And so if you look at the macro environment of the technology that's coming around and the power of the capital that's being applied to that technology, there's so much growth potential and so much upside for investors, it doesn't feel like the start of a, the start of bare market. I feel like it's at the start, we're at the start of a new industrial revolution, something that's literally going to capture the attention of every human being that hears the

news in any form or fashion on the earth. I think we're closer to that than we are to some, you know, grave report that could be issued by a human being because Bitcoin doesn't care about those reports and the adoption curve that we're on with Bitcoin and the safety that it's representing in a new world where you want collateral that's digitized. I just, again, I think we're at the very beginning of the horizon, if you will. I mean, you know, the people who are going to be really, really upset when they find out that this is not a bear market, it's all these people who got liquidated. 167,791 traders got wrecked in the past 24 hours with total liquidations hitting 759 million.

We've been seeing these 500 to a billion days in liquidations over and over and over again, and Bitcoin's 110 grand. So I have a question for all your money when Bitcoin's $110,000. Well, when those liquidation events happen, a lot of people think of them as an effect. I think it's the cause. I think that when you get a market that's highly leveraged that can be moved, the big one, the big players are there for the action and they're going to move it. And they're going to find those

liquidation points. And that's what I'm talking about as it pertains to the liquidity sweeps. If you find a zone that's heavily leveraged and we're close to the zone and you're a market maker, you're one of the big Wall Street firms that are now engaged in Bitcoin's

price, well, it doesn't take much. Like the trigger event that quote was the cause of it, you know, was that guy that sold, you know, open market, market order, some large quantity of Bitcoin. You know, that's just the headline. There's a lot of people that once they saw that said,

oh, there's the skate go, trigger the cells. And then you get this cascading event. That's exactly what they want. Why? Well, cascading events take you through liquidity zones and wipe out everyone that has any margin in that zone. So if you're somebody who has liquidity behind your margin and can recapitalize the trade,

like they can, you know, it doesn't matter how much volatility. In fact, volatility is good for you because it shakes out everyone but you and all your friends that have the cash and the staying power. And it reminds me of an old adage that somebody told me, it's like the markets can stay irrational longer than you can stay solvent, you know? It's like you've got to have money at depths of market makers to try to play that game. Yeah. Yeah, I agree with all of that.

I just don't understand how you get liquidated for millions of dollars. Just buy the Bitcoin with all that millions of dollars and go get a hobby. Go buy a TurboS with those liquidations, you know. It's, again, the human mind and the emotions associated with it and trading, I'm sure it's been studied ad nauseum and will continue to be studied ad nauseum, but, you know, stupidity finds a new place to play in that particular arena. And that graphic is a pretty good example of just that. You know, you're making binary bets based on, you know, a highly volatile asset

that, again, is bound to go in one direction pretty quickly. So it's, you know, it's... Yeah, but listen, and anything in life, it's like half, the story the risk is there you're right but the reward is too look at that james win guy that caught fire this year you know he just had a few caught on fire well i mean for them for a while there uh he was the bell of the ball he everybody was track and i think there's a lot of people that still believe that story exists where you can be right five or six times in a row on highly leveraged trades and that you can you know turn 10 k into a hundred million you're you're right you can

can. The odds are against it. But if you keep playing that game, you're inevitably going to go broke, just like James did. And so it's why pursue a path that leads inevitably to loss and catastrophic loss? James win, more like James loss, right? Hey, you know what? Probably is going to go up a lot at some point this cycle. Not that we ever talk about this, but Salana. And I'm a guy I'm going to tell you why dude like if you guys are paying attention to the treasury company market because obviously like we saw tom lee and he came out and he made a big stink about eif and kind of him and lubin started this war for ethereum treasury companies and they went flying i mean i don't know if you saw these announcements today pantera capital this is pantera

this isn't like a joke of a you know reverse murder pantera capital i's 1.25 billion raised to create Solana Treasury firm report. Oh, and by the way, galaxy jump and multi-coin with Cantor Fitzgerald as the bank are doing a billion for buying Solana. If you look at the Salana ETH chart,

actually, Solana looks quite good and bottomed out if you're looking at that kind of thing. But, and I actually, I will be very soon sharing offices for my new studio with my 12 by 7 LED screen. You guys got to move down. Nice.

I'm going to look like I'm in Times Square on the moon doing show. It's going to be amazing. You guys are going to look horrible on Zoom next to me. I'm moving into a new office on the 6th. So now I know what I need to go by is a giant digital. But it's a shared office with Upexie, which was the first Salonah Treasury Company, my friend Allen over there. So, yeah. So, like, I've been kind of hearing the bubbles of all of this, but nothing to do with this.

But this is like, this is, if you know that there's. two, three, five, nine, twelve billion dollars worth of buying coming into a smaller asset, it's probably going to do pretty good. Yeah, there's, there's, you know, I put out a, let's call it a medium take, not a hot take a couple days ago, you know, the, at the time, the overall crypto market was sitting at a little more than four trillion. And the take was, we're going to go from four trillion to 50 trillion in the next 15 years. and those headlines are just again the small little seeds that get you there that between you know the AI movement and then just the extraordinary 10 lane highway that we're on from a regulatory standpoint with crypto we're simply going much much higher what are the pivots and changes and adjustments that get us there I can't make that prediction but I do know

that there are a lot of smart people that are thinking the same thing and some of those smart people are asset managers are asset allocators our regulators are executives that have lots and lots of capital to deploy um so i think they're looking i think they're looking also at the case studies that have already been presented to us ethereum's case study was very clear during the icio craze we saw what its adoption potential was, its true transactional throughput potential, the fee structures, the proof of work versus the proof of proof of stake. Like, they learned a lot during that, and they've adopted a lot of the knowledge that they've learned into new protocol. That's why are the proof of work now, I mean, proof of stake now instead of proof of work. I think Solana

proved in spades its utility during the whole meme coin phase. Like if you ever used in, any of those platforms to do any of that, you were blown away. At least I was. I was left going, this is as close to an Apple feel as I can get from an interface perspective. Seameless integration, very easy to use, so easy to use that you had pre-teens minting their own meme coins and controlling markets at 1 a.m. in the middle of nowhere. So, like, I think that the investment bankers and the truly legit folks that are wanting to place capital in these markets are looking at all these past evidences of true utility, because that's what I think this next phase of blockchain is going to be all about. It's about integration and utility. If you can integrate and make that integration perspective, you're in the club. so I just think Solana has already proved that to anybody that's been paying attention and you can apply that to any number of legacy business models and it becomes something that is a true

marketplace that you could pop up instantly for merch launches all sorts of fun things that it's proven to be the best use case for that specific chain so I think Solana absolutely has a huge future. And I also am impressed with the fact that, you know, we had this massive price crash this bull run in the last, you know, few months. Well, there's a lot of, you know, if you look at Ethereum and how much it's gone up over the last, like there's a lot of catch up to be had with Salana, I think. So I'm right there with you, Scott. I think that's a really good choice. Yeah, I mean, we've got treasury companies for everything, obviously. BNB has been making you all-time high

as we just have one announced I like that I like all these they're fine and whatever I have no particular but Berkshire Hathaway of BNB it's quick listen the whole the whole treasury

the pure treasury strategy play is that there will be winners and losers it will you know there'll be people that make it through to the other side Berkshire Hathaway of B&B probably will not make it through the other side you know just making a really bold claim there but happen yeah what we will find you remember like Buffett I don't know why you're so down yeah it you know I just I just

continue to think what I do is I follow really, really closely in Black Rock. I follow those two collection of, of, you know, financial minds very, very closely. What is BitWise saying macro? What is BlackRock

doing macro? Oftentimes, they match up much more than you think. And BitWise in the last 18 months has gone from two billion in assets to almost 16 billion in assets as it stands today. That's something, right? And Black

Rock is, you know, got their fingers and hands and everything all through the crypto space way more than just a couple of ETS, Bitcoin and Ethereum. And so they're making a bet that the rails and everything that's going to run finance on a go-forward basis over the next three to five years is going to be associated with crypto and blockchain and the like. It's why their Biddle portfolio has absolutely exploded. And inside of that portfolio are things like Avalanche and Aptos and Polygon, right? And so their bet is these things are going to be used, as Tillman said, in a very utilitarian way.

And when you get to high levels of utility, there's really no end to potential price discovery because it's being used more and more and more and more. same thing with bitwise they put out a uh a research paper in the last couple days associated with the reality that wall street is now coming to them and saying hey we we need research we need some information associated with the fact that we've put clients into these products tell us more over the past eight years nobody on wall street has asked them about that now they're getting it in spade saying, hey, can you tell us more? We need to know more. We need to be able to hand people something that says,

this is why we believe what we believe, right? And there it is. Yeah, I wrote all about this in my newsletter today. It was pretty powerful stuff. Yeah. Kind of makes you feel silly for talking about whether Bitcoin price is going to be 108 or 112. Yeah. Well, it's the big, it's the big boat versus the small boat, right?

Those things take a lot of time and they're part of that whole movement. and they're building the infrastructure. And, you know, I thought this notion a long time ago, and let's apply it to the banking side of things, if Taylor Swift launched a coin successfully and made it the central coin for all transactions within her ecosystem, merch, tickets, everything, the value of the coin would go up.

She could mint as many as she wanted and give them to her best fans, therefore making her best fans financially independent and wealthy. So think about it from a banking adoption perspective. Your fidelity, you're some of these big financial institutions. Your name means so much. You endorse some of these coins. You are part of the ecosystem. Your adoption curve actually lends itself to the price appreciation for the customers

that you manage and hold the money for. It's a self-fulfilling prophecy. Like if they integrate, right, then, the new technology has more market share, therefore the price goes up, and that integration is done based upon customer demand that they have from within their walls. Therefore, the self-fulfilling prophecy is that all of those customers and the ones that they get into those coins are naturally going to reap the benefits of that appreciation. And if you're in the business of holding trading and charging fees against those balances, that's a no-brainer way to grow your market.

If you do it successfully, you can single-handedly make everyone within your four walls rich. No different than a big hedge fund who happens to know a secret sauce place to put the money that gets these high yields. I think that the crazy thing that people are having a hard time getting their mind around is that the secret sauce here is just buying Bitcoin. Most cases, you're going to outperform everything, and you would have definitely over the last 16 years, if you had done what Scott said is just like, don't try to outsmart yourself, just get in and be one of the early adopters.

So if you think about it, if investment advisors are the largest holders of Bitcoin ETFs, even as of right now, and they're just now asking BitWise for additional research, this is the first year that they've done it, think about how small that number is compared to total portfolio values across wealth managers. It's very, very tiny, but it's going to grow. You can't listen to a guy like Rick Edelman, who's the Larry Fink of wealth management, say, listen, this isn't a three to five percent deal. This is a 10 to 40 percent deal.

You know, you sound crazy until the apocalypse actually hits, and you've been talking about apocalypse for the last 10 years. Like at some point, you sound really, really smart. And he's going to sound really, really smart. And there's going to be a subsection of people that say, all right, I'm going to put 10% of my client's money in Bitcoin. This is what we're going to talk about at quarterly meetings every time I'm going to say this until they get it. Well, you know, 18 months from now, the amount of Bitcoin ETFs owned by registered investment advisors are going to be 5x what it is today. In other words, there's a floor underneath the overall price.

of Bitcoin and that's not going away. It's a high floor. It's going to continue to be a high floor because that dynamic is not going to change. Rick Edelman is not going to wake up in six months and say, well, you know what, about that 10 to 40% thing. I was way off. Way off. My bad. No, that's not what's going to happen. Hey, can I shift the subject for a quick second? There's something that just popped up 20 something minutes ago in the news of Trump media. Did you guys see that? They just cut a deal with crypto. dot com yeah i think it was to do something about their wallet so i didn't like i didn't quite that's why i didn't mention it because as i dug in it kind of like the first headlines didn't

make much sense you're like six billion dollar deal i'm like it looks like they're using their wallet i don't know but well they're funded by a billion dollars of cRO token cash uh tokens cash and warrants that have a five billion credit line from yorkville affiliate so it's a massive deal. The one thing that's striking me about this deal is that I haven't talked or heard about crypto.com in years until the Bitcoin conference. And they had a bunch of people there that, you know, came and talked to all of our team. They, you know, they evidently are making a push back into the market based upon the regulations and the clarity. And these types of deals, I mean, I, being in bed with Trump media over the next two and a half years, I don't know how you ignore

the upside potential there but um you know eric if you had bought when he told you to buy east i think you'd be in a pretty pretty good spot right now i don't know it's an ongoing again it's it's the it's the high floor type of argument every time we talk about any individual uh announcement these announcements happen every day i mean just on this show we've talked about two massive massive billions of dollars worth salana treasury announcements as well as Berkshire Hathaway, you know, B&B. Now we're talking about Trump Media. Well, not just Trump Media.

Listen, the entity will be a digital asset treasury company focused on the acquisition of Kronos. Yeah. By the way, that token, that CRO token had, I don't want to like FUD, but there was some crazy story. And now I can't remember entirely from like a month or two or three months ago, where like they just decided to print a whole shit ton more of them or something. I think. I don't want to now I don't want to be fud.

But like they had a plan and basically they like printed a bunch more to fund operations or something. I don't know. Well, here's what's interesting though, private entities, right, taking public chains that have been around for a long time and using them for their own purposes and for their own use cases, that's the story to me is like you're seeing real world companies partner with huge amounts of cash. It says, I mean, the credit line from York, the affiliate of Yorkville is basically a blank check. So it's just, again, more money coming in from the unsophisticated crypto investor, partnering with a, quote, sophisticated crypto investor in hopes of, you know, garnering market share. Okay, I just want to make sure I wasn't fudding, so this is from March. Burn tokens are gone forever right for somebody to be.

Crypto.com burned 70% of the CRO token supply in 2020. now it wants to do over to package of tokens and do an ETF. There's no way that can't be the stever. Okay, it's a different Steve Erlich. My God, I was so triggered. The CEO of Voyager was Stephen Erlich. That small picture kind of looks like it. But no, at least I'm not making things up right now.

Yeah. So these deals are going to be a dime a dozen every five seconds. And our Republic's going to be the way. By the way, so we're working on getting that set up with, red light holland which we've talked about before and they're just dying to buy actually made an announcement i think it'll press release that as we're getting set up bought a couple hundred thousand more worth of ibit this morning uh on this dip because i was like buy by the dip bro um so you know that's the company obviously that i'm helping with their bitcoin balance sheet strategy

strategy along with these two guys but that's also a nice segue into all the amazing things that are happening on ARCH? Yeah, there is simply, you know, we, we, we've passed a couple of significant milestones in terms of the total customers that we serve. And, you know, so we can take a look at data and, and take a look at what people are sort of finding comfort in. And what that means is, you know, over the past couple months, people are, even Even sort of Bitcoin Maxi folks are coming to the table and saying, listen, volatility is a feature. Bitcoin volatility has slowed just a bit. But it hasn't slowed on the likes of Suey and Solana. So people are taking alga setups. They're harvesting enormous amounts of utility associated with Suey and Solana. And then they're taking that yield that comes from that volatility. And they're putting it back into Bitcoin setups, both on the arbitrage.

and accumulation setups associated with our Bitcoin outgoes. And the outcomes have been absolutely incredible. We have conversations with people and, you know, folks that are fairly sophisticated people to say this is completely adjusted and changed the way that I look at my holdings and how they act or react. I'm almost, you know, begging for dips to happen so that. that I can watch the Algos go grab those dips for me, devoid of human emotions. And so are the folks that work with us,

our service teams, our concierge folks that set these up for folks at times and give them the opportunity to go out and grab volatility, people are responding in a significant way. And just simply stacking more Bitcoin on the back of we're all crypto volatility, right? Well, and that's just to dig a little deeper on the arbitrage strategy and how flexible it is to that end.

If you want to trade the volatility, you can set the width of the candle that or the length of the candle that you determined to be a sale and or a pump. So you can set these parameters exactly to what you want. Why is that important? Well, as the market shifts, like Bitcoin has become less volatile. than it has in previous cycles, well, if that tightens and you want to still stick with Bitcoin, you can tighten those parameters and you can give it instructions to take more trades. There will just be less price movement in those trades.

You'll make less money. So a lot of people are just gravitating towards the more volatile assets like Sui, like Solana, and they're setting up what we call one-to-one arbitrage. So it's, you know, whatever entry they have, they have the exact. exact exit when the price goes up. And so they're just, when those events take place, they're just creating profits. And then they take those profits, like Andrew said, and roll them into more of an accumulation strategy over a longer period of time into BTC or some of the other assets that they want to hold for a long period of time. But it's a way to supercharge

that accumulation. As long as that volatility remains in that asset that you're trading, then you're going to be able to harvest it. And three development. that have happened over the last month or so. You can now use our tools on Gemini, Cracken, and Coinbase. All three of those are available to you. One, you can also use these in a tax-advantaged way. We have relationships with an IRA company-directed IRA, so you can deal with taxes in that way with a qualified account.

And then three, we are in the last four days of our dog days the summer. Extraordinary discounts on our concierge program. I can actually say, because these are the last four days, we're talking about 30 and 40% discounts. So if you've ever been interested in being a concierge's program, now is the time. Literally, now is the time. I believe that Scott sent out a really, really committed tech post yesterday. He said, do it. Well, here's the thing.

We've given the product away for free. I saw it from Nike. If you haven't taken advantage of that, you know, do so because seeing is believing. And the people who are upgrading to the concierge are not people in most cases 90 plus percent of the time. They're not people that haven't tried the software. They're people that have used it and they're saying, I want more of it. So it's a real eye-opener to say the least. If you have not used automation, especially self-directed, self-initiated automation,

it will open your eyes and give you a sense of empowerment and a sense of control over the markets that you have not had before. And we love the conversations with people that say, well, what about this? Does it work in bare markets? Or I'm skeptical. I've used other alcohols or heard about other alcohols that they don't work. We just simply say, hey, no problem. It's free. Use it. Go use it. Go try it. It's free. If you think we're full of, you know what, it's free. Well, in fact, we want all that feedback. If you use it and you don't like it, call me. I want to hear why you didn't like it.

And I want to see if there's an improvement. It's like we're constantly building. I don't know what iteration we're on, but hundreds of iterations. And so we built this at the very beginning as a selfish endeavor because we wanted the tools. It's a pain to live in the crypto markets where you're a slave to 24-7 monitoring and emotional swings. Like I've lived that since I got into crypto where the bed side table has a phone on it that's going off every time there's a dip or every time there's a pump. And like that type of emotional turmoil is not something that's sustainable. And so these tools are things

that you can say, I want, if these conditions are met, I want to buy. If these conditions are met, I want to sell. And it'll allow you to determine how much you buy and how much you sell. And you just set those and forget it. And so now you don't have to sit there and have those alerts going off. It's a completely hands-off approach based upon you making its strategic decisions and layering instances up for when you want to buy and when you want to sell. And that keeps the emotion out of it. It keeps you from breaking your own rules.

There's just a lot. It gets you better fill prices because it's triggering based upon math in the moment that you can't possibly keep up with and calculate with. There's all sorts of advantages that once you, use it, you're going to go, ah, this is a game changer. Yeah, we're available in Europe everywhere that Gemini, Cracken, and Coinbase is, right? So we are... And Trade Station. Yeah, our tools are, you know, exchange agnostic, right? So the ones that we've integrated with, Trade Station, Gemini, Cracken, and Coinbase, you know, wherever they have availability, we have availability.

It's that simple. So Europe, just a question of where you are in Europe, you know, I don't know if Kazakhstan is in Europe or is in some place that I haven't heard of. We have a ton of European customers. So, yeah, just reach out to us and we'll try to get you set up with an exchange that services that area. Yeah, just reach out and say, hey, I'm in such and such. And we'll be like, yeah, we looked it up. You're good to go. And by the way, that's a great, there's a great point of teaching here that for everybody who hasn't used it and thinks, you know, based upon.

the reputation of the industry that you should never trust somebody to custody your money, let me alleviate any of those fears. We do not custody your money. That's why we don't have any control over where you can use our software or not, because that's determined at the exchange level. So if you have a crypto exchange that you're able to utilize in your country, let us know what that exchange is, and we may put it on the integration list going forward, depending upon how much demand is there. But, you know, these Gemini, Cracken, Coinbase, and soon to be Robin Hood, they are the ones that custody your funds. They are the ones that you interact with from, you know, turning the software off, turning it on. So all you're essentially doing is plugging our software

into it and utilizing it in a communication bridge. And what a bridge it is. What a bridge it is, fellas. dude it's awesome and we got a lot less haters about it now i'll say like i see in the comments you know it used to be at the beginning it was like oh whatever and then like slowly people start using and then they just kind of give up just like wait it actually makes people a lot of money at bitcoin and by the way there were people in there they're like oh we pivoted which is funny you pivoted from like you know buying bitcoin it holds ever for let's day trade bitcoin with arched public it's not that this is not about day trading bitcoin it's about utilizing the volatility of of other coins to get more Bitcoin that you don't need to sell ever.

It's a smart accumulation strategy to do it better. That's why this has become so popular my thousands and thousands of thousands of people are using it, because this isn't about day trading for income. This is about getting more Bitcoin with the money you were going to buy Bitcoin with anyways. It's about a force multiplier. It's stacking compounding on compounding. And when you can do that in a hands-off approach, then it's systematic and it doesn't

require a lot of attention and time and effort you know an example that i've used from time to time with customers there there's a big difference you still get heat if you've got a you know a wood burning stove in your house and that's your heating source right you're shoveling wood into it all the time and it's going to do heat there's a big difference when you've got multiple uh you know things on your wall and you can set it to 70 on the low end and 72.5 on the high end and it's going to stay there at the time, right? That's a significantly better experience in terms of comfort in your home. Well, one's manual and one's automatic, right? Yeah. And it's user-driven. So you get to determine what the thermostat in your house says. And then everything behind the scenes reacts to what you

want. That's a great analogy. I haven't heard you use that one before, but that's very similar. You could go and you could have wood-burning furnaces in every room, and you could tend them all 24-7 on really cold nights. You might have to wake up at 1 a.m. put some more wood in there. Or you can just hook it up to a large heater and have an HVAC duct work system and thermostat's put in. And then it's all done for you, right? But it's still what you want, and it's still the outcome that you're determining. If you want it 78 in there, which God help you, then you can start. 78. If you want it to 65, like me, then you can set it to 65.

I got to get it cold, man. You got to get a cold. 65. All right, I got to go. All right. We did it. We accomplished it. You guys go to arts public, yada, yada, yada.com, yada, yada, do the thing and the place and make money and Bitcoin. It's amazing. I saw people now, because we were talking about cars, saying they want to upgrade just so they can go to the track days. we got addicted i will tell you we will have some more track days that in fact i saw there's a few of the the track kind of performance centers all across the country so maybe there will be one closer than Davis yeah we got those around this is the car this is the one i was talking about by the way guys oh wow yeah yeah it looks cool until there's fluid leaking out of it

and you're on the side of the road. It's called an Aston for a minute, that's what I've heard. Hey, quick, I saw Nicole Kidman one time in Franklin, Tennessee pulling into Whole Foods. And she had a, like, what looked to be, I don't know, I'm not a big Aston Martin guy, but what looked to be the latest, greatest, brand new Aston Martin. She was parallel parking. She was parallel parking. And her rims grinded on that concrete curb.

And I can hear it's from across that girl. Happy international woman's day on that one right there. I think it's like International Dog Day or something. So it looks so nice though. Yeah, you don't buy it. The new ones, these things depreciate like 90% in a year now. You know what? You know what doesn't appreciate?

You know what doesn't depreciate? You know what doesn't depreciate, 9-11s? I know. So I've been in three places of late, randomly looking at McLaren's. I think I told you guys this, but I haven't told everyone else. I'm a McLaren fan. Like, I don't, the GT, the gentleman's McLaren. It's like a tour, you know?

And every single time, they're like, it's a shame what happened with these. And I'm like, what? Every guy, they're like, well, they got the reputation for being, you know, crypto cars that got their money through scams. So, like, we can't get serious people to buy McLaren. anymore. I heard it at every single dealership. I'm like, which is sad because this one's, you know, it's like a gentleman's car.

Well, that's because you're a crypto, bro, and you fit the demographic, Scott. Yeah, I'm like 50 almost. They're like all these 25-year-old kids buying their, you know, 5-70. Listen, I think you said it at the very beginning before we came on. TurboS, man. That's the only way to go. It's well known. This is a piece of wisdom for both of you.

It's well known across high-level executive car guys. So people that work at Ford, Toyota, executive. All of those guys, they have their cars for the pace they work at. But their sports car, all of them have a 9-11. They have a 9-11. Every single time I listen to an interview with like an XF1 driver or something, what inevitably the interviewer's like, so what's your daily driver? And every single one of them is like a 9-11. They're bulletproof. They hold their value up. They, you can drive them. I listen, you can buy one. That's the thing. It's like, they all look the same.

That's what gets me. It's like, well, the GT3RS doesn't look the same. So if you have to have the different look and the show off, you know, pop and wild, then that's, you know, like the rapper says, GT3RS with the wing out. You've got to have that big wing.

Look at you. I've got three sons. I have no choice but to absorb that. What are you going to say? No, actually. That's what? Okay, cool. All right, guys.

I hear the lyric. Because I guess the point. It's been a pleasure. This quickly has become the most fun, certainly, hour of my week. Sometimes I even talk about crypto. But, you know, whatever. Well, I'll see you to track day soon. Everybody, try arch public.

Tillman, Andrew, thank you, as always. See you guys. Next to you guys. Later. Let's go.