The Wolf Of All Streets - Why You MUST Buy Bitcoin Right Now (No Matter the Price) | Mark Yusko Explains

Episode Date: March 18, 2025

►► Unleash algorithmic trading with Arch Public: https://archpublic.com/ Is now the perfect time to buy Bitcoin? Mark Yusko believes it is—and he's joining us today to reveal why! He'll dive into what's driving Bitcoin's price action this year and share his market outlook. Plus, our friends from Arch Public, Andrew Parish and Tillman Holloway, will be hosting the show and delivering a fresh update on our $10K algorithmic portfolio. Don't miss out! Mark Yusko: https://x.com/MarkYusko Andrew Parish: https://twitter.com/AP_Abacus Tillman Holloway: https://twitter.com/texasol61 ►► 🔥 LBANK Exchange - No KYC Required! Claim up to 50% trading bonus! Join today & get rewarded! Start trading to claim up to 50% in trading bonuses!! 👉https://www.lbank.com/activity/ScottMelker-Cashback?icode=4M3HD ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEKDAY! 👉https://thewolfden.substack.com/ ►► Arch Public Unleash algorithmic trading. Discover how algorithms used by hedge-funds are now accessible to traders looking for unparalleled insights and opportunities! 👉https://archpublic.com/ ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. Use code '10OFF' for a 10% discount. 👉https://tradingalpha.io/?via=scottmelker Follow Scott Melker: Twitter: https://x.com/scottmelker Web: https://www.thewolfofallstreets.com/ Spotify: https://spoti.fi/30N5FDe Apple podcast: https://apple.co/3FASB2c #Bitcoin #Crypto #Investments The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.

Let's go. Let's go. Let's go. Let's go. Let's go. Let's go. Good morning everybody to a March Madness Tuesday. We're here with Mark, Yusko, and Tillman Holloway.

Mark is in Chapel Hill, North Carolina, the nexus of controversy where North Carolina was added to March Madness and people are wondering why. Mark, what do you say about that? Tell us. Tell us what do you think. I mean the team won 22 games. They played Duke to the wire which might be the best team in the country in the ACC tournament. And people are complaining. I mean, there are teams in the tournament that were six and 12 in their conference. Yeah, the SEC bias is a problem, right? And it is a real problem. Also, Texas should not have been in the tournament

and they were at it as well. And we've got a Texas fan base here. Oh come on, Texas should be in there. We've got the biggest fan base. We'll pay the most money for the tickets. Come on, you know what I'm saying? And again, what is it really about, right? It's about the fan experience

and it's about having the stadiums full. And look, I'm all for all the underdogs getting it. Okay. Yeah. And it's great, right? If you win some mid-major conference, you get a berth, but there's, there's teams. I don't want to pick on anyone in particular, but, but this one is easy. Cornell.

Yeah. I mean, you came in this one is easy. Cornell. You came in second in the Ivy. You got like an 18 and 12 record or something like that. Not a big fan base, I'm sorry to all you Cornell fans. Big red. But it's all kind of silly. I mean, 68 teams, that's a lot of teams. And there's always gonna be somebody who feels like they were left out. You know, Wake Forest is the one that should be really unhappy.

But then again, head to head, North Carolina beat them the second time. You know? They were just the first time. I've got my own beef because I'm a long time Michigan fan and they finished third in the Big Ten and win the Big Ten title and they're a five seed. Thanks. Appreciate that. So let's get to the business of the day and March Madness here with Bitcoin. Mark, I know there was there was a coin telegraph

article a little bit ago associated with you know, your thoughts on a crypto bear market, you know, maybe coin telegraph is being a bit having some editorial fun. No, no, it's accurate. Look, there are a whole bunch of people that, you know, starting middle of last year, post ETF adoption, you know, as Trump was getting closer to, you know, win in the White House, we're like, you know, it was really kind of post Nashville, post Bitcoin 2025, where the four year's over, we're going to the moon, it's up only. And I'm like, guys, let's think about this for a second. The four year cycle is embedded in the code. It's literally embedded in the code.

And what are you talking about? Like, well, let's think about how this works. Every four years, you cut the number of block rewards. Right. OK, why does that matter? Well, in theory, if you do that, half of the miners would go out of business. Right. Their costs are fixed. So they will hold their coins until someone bids them higher because they need to pay the bills.

So there's a built-in price escalator every four years. Okay, great. Why does that matter? Well, that attracts attention. I mean, guys in particular, I think, if somebody were to walk down the hall, I would look at them because guys were hunters, right? Our eyes follow movement. You know, I joke all the time, you know, my wife says, get the ketchup.

I open the door. Honey, there's no ketchup. She walks up, she grabs the ketchup. If it ain't moving, I can't see it. And that's just the personality. And so the price starts to move, and that attracts attention attention and attracts capital and we start to move again. And so normally that halving event occurs toward crypto summer. So we're starting to get back toward fair value after the last crypto winter.

We go through winter, we go through the fall, then you have this year of spring. And spring is kind of yucky, it's windy, it's cold, it's wet, it's mushy. And so you're kind of bouncing along the bottom, starting to drift up. And then in summer, you start to head back toward fair value.

People, I say, the normal participants, investors, say, huh, that asset is trading below fair value. I should buy some. Okay, that makes sense. I start to move towards fair value. The halving occurs. Well now suddenly the fair value doubles. Right?

Now, like, well, no, it doesn't make sense. It actually does, but let's just think about the math. So now the traders get involved because now things starting to move, right? People watch the show. They go, I don't really care about fair value. I just need movement. I need to scalp some profits. Well, then as we get to fair value, right? And then the miners say once it's above fair value, the miners are like, okay, I can sell, I can pay my bills. Okay, good. So now we start to get above fair value. Now the speculators come in. Well, what's a speculator? A speculator is the opposite side of a hedger. Well, what's a hedger? A hedger is like a miner or an oil producer. You are selling your product forward in the market and the speculator takes the other side. That's all that means. Now, there are other types of speculators, but that's generally what happens.

Well, so then we're where we are today. We're in crypto fall and you start to see the price move away from fair value. Well then the gamblers come in and the gamblers, they don't give a shit about fair value. They don't care about anything except, hey, I can buy it on leverage. So they lever up and we start to go parabolic. Now, some would argue,

well, that's what happened in December. All this enthusiasm about the strategic Bitcoin Reserve, we went well above fair value. Fair value was 85, we got to 106. And now they're like, oh, it's over. We missed it. I'm like, no. So yes, there was by the rumor, sell the news, right? It was clear to anyone who did a little work that the president could not create an SBR

through executive order. They just couldn't, right? That's why we have three branches of government and all this stuff. There is a treasury and that is controlled by Congress and Congress has to pass a bill into a law. So slip between cup and lip, we get a little but the thing that people are missing and this is a long answer to your question. Every

Lunar New Year, we have a dip. Why is that? Well, because a bunch of people try to sell to fill up the red envelopes with money. No, China doesn't own any. Are you joking? Yeah, they banned it. But the Chinese own a lot of Bitcoin. So especially people like Bitmain, etc. So they own, in advance of tax day in April, we have another sell-off. Yeah. And it's worse when we've had a really big year the year before. Right. Because if we had a bad year, no one needs to sell. Right. We have a really great year up 140%. Yeah.

Yeah. We've got a lot of taxes. So we're seeing that couple. So you've got all of these things and we, and we do this. So if you go back to the 21, uh, cycle, this happened. We peaked in, in January and then Elon did his tweet. So it was a little early and we went from 60s and we went all the way down through July

back to 30,000, 32,000. Yeah, right. Right back to fair value. And then we shot up all the way to 69 by November. So what I said is I do this thing, the 10 surprises modeled after Byron Wein, the famous Morgan Stanley strategist, God rest his soul, I guess he passed away a couple years ago.

And so I do this 10 surprises and one of my surprises was, look, everyone thinks number go up, four year cycle is over. I'm here to say it's not. So what's likely to happen in my mind is we're going to have our typical crypto fall. It'll probably start summertime and go right through the fall and we'll peak, pick a number. If fair value is 85 to 90 today, by fall it'll be a hundred-ish. Let's just call it around number 100. And that's because of Metcalfe's law, you can calculate what fair value is. And Tim Peterson does a great chart on

it. So all of that says, okay, in previous cycles, we've gone to two to 2.1 times fair value during the parabolic stupid phase. And what I mean by stupid, meaning when you pay two times fair value for something, you shouldn't expect to make a lot of return. You should expect, it's like buying Nvidia at 140 bucks. You shouldn't expect to make a lot before, I mean, you'll lose, and maybe you'll make money a long term, but it was trading at 36 times revenues. So you shouldn't expect to make a lot of money. So this time I think there's less leverage. There's still leverage. And everyone's been reading about this levered trader 40 times.

Yeah, but 40 times is different than a hundred times. Used to be a hundred times leverage you could get. So let's say this cycle, we go to one and a half, 1.6. So I said somewhere between 150 and 170 would be the peak. And then we would have another crypto winter. And so that's not like saying, oh my God, tomorrow we're going to zero. It's saying that humans are gonna human

and we're gonna push the price above fair value. And then we're gonna push it below. Now look, if 106 was this cycle top, if they pulled that forward with all the nonsense, we're not going down much from here. I mean, we're below fair value. So there's not a lot of big leverage to unwind. There's not a lot of things that have to get undone. So unless we go to 150 to 170, then we're not going to have a correction. We already had it. And so is it possible that we're in a new era and we're going to kind of hover right around fair value and maybe just have a little bit of volatility

around fair value and becoming a stable coin? I don't think so. I think humans are gonna human. I think we're just at two. It is really interesting, Tillman, that we're in this spot where six to nine months ago, it felt like there was, you had to really work hard

to find a downside narrative to Bitcoin. Like really work hard. And we're now in this phase that Mark has a little bit described here, where it's kind of like, well, you know, what's the what's the significant upside catalyst? Like for all intents and purposes, the new administration has done everything that they said that they would do at the Bitcoin conference. So all that stuff is now, you know, we turn the page there. So what's

the significant upside catalyst? So let's say you, Tillman. Well, I love listening to Mark. I think he's really brilliant on these things and I'd like to kind of dig in a little bit more as it pertains to the miners. I used to be a miner. I was a miner back in 2013. That's how I fell in love with Bitcoin. It was the the magic of mining that got me hooked. And I've had this begging question, you know, it was obvious to me that the miners controlled the price back then in a very direct manner. And then it looked like the ICOs were driving the price in this last one. And now to me it seems like we've switched to institutional buyers really driving the

price. I think there's some pretty large numbers attached to even MicroStrategy's contributions to the overall demand. And so I guess the question that I can't answer myself is, as the miners become less and less involved in the price in driving the price because they control less of the supply, does the price become a lot more stable because selling Bitcoin to pay bills like miners have to do, especially if you're not sitting on a huge treasury of Bitcoin that you can leverage but if you're kind of starting this cycle as

a miner these are death sentences in a lot of cases when the price collapses and I don't know I'm still waiting to see whether this cycle is different you know the famous last words, this time's different. There's a part of me that thinks that maybe this time is different because the buyer is so different and the seller is so different. Like when you change the dynamic of the people that are controlling the asset themselves, the vast majority of them, you've got diamond hand holders like MicroStrategy's

accumulating at a rate that's so disproportionate to what the individual miner could do or the individual retail investor. It seems like we're, from a retail perspective, we've entered into a new arena, essentially. What would be your take on that? Well, I think it's a fantastic point. And I really, I think you have to really think critically about market participants the way you just outlined.

participants the way you just outlined, the subtle thing is while the numbers are down, the number of block rewards are down, the price is higher. So the value that's getting bought and sold continues to increase. And so while I totally agree with the point that the miners have less incremental control, and then there's a second sinister part to this, which is what we've been talking about is spot. But most of the nastiness of the last year has nothing to do with spot. It has to do with futures. And see, this goes all the way back to that 2017 period. So in 2017, there was all this ICO stuff and craziness and Genzers cracking down. And everybody's as pre crackdown and

everybody's getting upset. And there's this guy, Leo Melamed, Leo runs the Chicago Mercantile Exchange. It had this quote in 2017, which I thought was really strange. And but now prophetic. And he says, we will tame bitcoin which is a very interesting word to choose right like that's an active choice we will tame and he's like we we the cme we institutions We, you know, Wall Street, the dark side. Well, what did he mean by that? Well, what he meant was when Bitcoin was deemed a commodity, everybody's like, yay, we're not a security.

Be careful what you ask for. You might get it. We would have much preferred to be a security. Why? Well, because by being classified a commodity now Leo and crew can create futures on our product Why does that matter? Well, Bitcoin is something that can only be created not out of thin air

Not true a futures contract can create Bitcoin out of thin air, just like it creates oil out of thin air or wheat or corn. And what does that mean? Like in the old days, if I had oil and I want to sell to you, I had to physically have it or have title to get it. Well then the futures came along and said, hell to the no. I can just write a contract with you and as long as we settle the contract before the delivery date, I don't ever have to have any oil. That can just be a financial transaction. So you get these very weird, if you look at oil market, it'll go way, way way up high then it'll crash and it'll go way way up. I know crash

well in those big peaks and big crashes what happens is the imbalance between paper and Spot becomes very very large Well, remember 2017 I remember to day, December 18th was the peak. Yeah. And why was that the peak? Because that was the day they launched the futures, which allowed institutions to go naked short and push down the price. We went from 20 to 10, and then from 10 to 6, and then from 6 to 3.

And people said, oh my God, it's dead, it's over. Wasn't over. So fast forward to last year, January 10th, everybody's like, yay, Bitcoin ETFs. Mike, yeah, is anyone else watching this? The freaking CME approved a slew of new futures contracts. And so what drives me crazy every, you know, 45 days when or every 90 days when that 13 F's come out, everybody reports, oh, Millennium bought $2 billion of Bitcoin.

No they didn't. Yes, they own 2 billion of iBit, but they're short, at least 2 billion, maybe more. Usually they're market neutral, but maybe sometimes they're even net short because the futures price is always higher than the spot price. And so over the 30 days, you roll down the curve and that's called roll yield. And that's why if you buy any of these commodity ETNs or ETFs, you lose money every single day, because you're just getting destroyed. So again, a long answer to saying, what's happening is there's very, very big money. It's your point on

the institutions that is shorting the crud out of futures with reckless aband. This is what happened with gold. When the gold ETF was approved, it took over a year for GLD to get back to its issue price because they were spoofing the futures. And JP Morgan, I love this part. So in the gold market, JP Morgan does something called spoofing, right? They pretend to have interest, and then they pull back the bids right at the end, and they push the price artificially down.

It's against the law. You get fined. Couple of years ago, they paid a $960 million fine. Yep. Almost a billion dollars. Yeah. And when they asked the guys like, Yeah, but we made 20 billion. So it's just like a cost of doing business. It's like a 5% tax. And the SEC loves it, right? Because they're funded by their feet fines. That's a crazy thing. They don't get government funding. They fund themselves by finding people.

Police for profit. They like to find crypto people. Well, speaking of funding, Sailor made another announcement today, so if we can pull that up. Strife, which is an interesting way to categorize a new perpetual preferred. And then there was a follow-up tweet by our guy at Bitwise, Jeff Park, that I thought was hilarious. A few moments later, he said, is it really called perpetual strife?

And it is. No. No. Is it really called perpetual strife? It is so. No. You know, the law of unintended consequences. Yeah. So, you know, strife really works?

Strife? I don't. Is it really called perpetual strife? Yeah. So, yeah. Perpetual strife. There it is. So a perp preferred, which looks like it has a little bit of a dividend. So, you know, sailor pulling as many levers and pulleys and switches

that he possibly can to buy more Bitcoin, which is, you know, his MO. But again, hilarious that it's called perpetual strife, which, you know, his MO. But again, hilarious that it's called perpetual strife, which is hilarious. And look, the one thing I don't like right now, if I'm just, you know, I'm brutally honest with what's happening market wise, is when the ETFs came out, we all did the math that there was, you know was 30 trillion of money in FAs controlled by UBS and Morgan Stanley and the like, Ameriprise. And let's say we get 1%, 30 billion. So 30 billion is a lot of money.

That would have been pretty close to a significant portion of all the money that had actually gone into Bitcoin on an annual basis. So that's good. The problem is not much of that's come in. I still at UBS, I'm not allowed to buy it, which is crazy. Can't buy the Vanguard. It's crazy. And so there's been a little bit of money. You know, Hunter

Horsley at Bitwise has been talking about all these people they've talked to, they've talked to hundreds and hundreds of financial advisors. They're all like, Yay, we agree 1% you know, Black Rock said 1 to 2% in their models. but most of that 50 billion that came in the ETF was from these big dog institutions that are probably short the future on the other

side and that's net net not so great for price. Yeah. I'd like to see some more adoption like that. Everyone saw the thing yesterday, right? 86% of people polled said, no, I wouldn't buy it. Yeah, that's right. That's right. Financial illiteracy is real.

Right. I mean, it's real. They don't teach it in school. It's, you know, and for 86% of people to still not understand that's the bad news. The good news is we're right on track right? This is right where the internet was in 1999-2000 we were like 14-15% we're right at 14%. Remember first decade first 10% the next decade 80%. Correct. yep.

So we're a couple years into the knee of the S-curve. So the adoption's gonna go parabolic, but- Don't you think the adoption going parabolic though is gonna be on the paper side? Like, if you watch the silver and the gold market over the last two decades, it's very clear that having a uncontrollable indicator of inflation is not a popular thing. Oh my gosh.

That's such a great insight. I mean, that is, that is the key insight, right? Is public enemy number one is a scoreboard for God. Yeah. Right? That's why people hate Doge. I mean, and to your point, inflation, that thing that's supposed to be good for us. And what people just don't remember

because they don't study history, from 1776, when this Republic, we're not a democracy, we're a republic by the way, when this republic was formed till 1913 a dollar which came from the original Reichsdollar, like why did we take a name Reichsdollar? That's another story. So a dollar was worth a dollar, okay? A little fluctuation around wars and the free banking era, but a dollar's worth a dollar. There was no such thing as inflation. Since 1913, that dollar has turned into three cents. You know, Jay Leno joke, I heard we're going to do a dollar coin, but we already

have. It's called a nickel. And so that theft, because here's the thing thing why would a plan? That takes half my purchasing power every 30 years Be good for me That that makes no sense and it was all global my house went up No, it didn't your house did not grow. It did not get more efficient and actually wore out You had had to put money into it, your money got worse. And so Bitcoin as a scoreboard or gold as a scoreboard, you're right, they don't like it. And so I also agree with the point on paper versus spot. What we'd really like is for everyone to have a wallet and everybody to use this to exchange value and the peer to peer electronic cash, not that we have to buy coffee with it, but if I want to send you value,

we don't need to go through a bank and pay wire fees. Well, I would make the argument just as an emergency fund. You know, you keep emergency funds in highly liquid forms that you have direct control over, that you have proximity control over. Bitcoin, I would argue, is a better form. If you look at, I did a tweet about this last week, but if you look at the 4,000 banks that exist in the United States over the last 20 years, we've seen more than 10% of them fail,

like over 500 failures. So if you're talking about getting cash today I would argue Bitcoin is as good of an instrument as exists for that for that ultimate savings tool couldn't agree more Yeah, yeah It's interesting to me. I so if the paper continues to grow right which we know it will because that's the control control mechanism that allows them to escalate at the rate in which they deem appropriate. I guess the question becomes is, is there a hard, is there a fork in our future? Because that's not, there's this, you know, I think if you, if you pull the Bitcoin community, that's not in the thesis that they're reading right there

They are still stuck with oh the world's adopting Bitcoin because they see the beauty in it Like we do and I don't think where the big money is coming from. They don't see it in that way They see it as another very volatile Risk-on-asset that now has a complete loop of financial products that allows them to play the game that they play with every other commodity on the earth. So, yep, I totally agree with that. And I think you can have both, right? As gold is the only asset that's both a money and a commodity, right? Has commodity uses, industrial uses, but it's also money.

And everyone talks about, you know, we just hit $3,000 in gold and now there's 20 trillion. Half, 10. So 10 is the monetary part, the bars and the bricks and stuff in the vaults. The other half is jewelry and chalices and gold leaf on the dome. And so that doesn't really count

because you're not gonna barter the jewelry very often, but that monetary value, 10 trillion, to me, that's what Bitcoin, that basically replaces. It's a better form of gold for money as the base layer in the future because it's more divisible and more portable. Beyond that, then it gets to, well, how do we replace these currencies that are out there backed by debt? That gets a little dicier and the nation states are going to fight that. But ultimately, I think we can exist

if there's a financialization above the base layer, I think, because you can always choose to self-gustody and hold directly, or you can choose the boomer rapper of the ETF, or you can choose the financial instrument like a future or an option. Well, it just seems like logically to me, the volatility has to continue to go down in order for that model to work, because if the volatility stays what we've experienced

in the previous cycles, you can't survive. There's not, it's too much of an, there's a price difference to the point where they would be a break, right? There would be such a premium put on physical Bitcoin versus the paper that the paper would lose its luster, wouldn't it? No, that's again a great point.

And the key there is, like I said, adoption, right? It's getting more participants involved because the thing that bothers me about this recent downturn, it's on no volume. Oh my God, there have been outflows for five weeks. Yeah, how much? You know, five billion, six billion. I mean, that's not a lot relative to 1.8 trillion. Well, then why is the price moving so much?

Because of this financialization. And you know, the thing that the people have a hard time with, and it's true of any asset, right? Think about Nvidia stock. How much money did Nvidia actually raise when they went public? Okay, not that much. How much is the value of that stock? What do you mean value? Like

because here's the thing you're taking the price of if you and I trade a hundred shares we'll get that price and we're multiplying that by the billions of outstanding shares and getting a market cap. But here's the problem if I had a thousand shares I'm not gonna get that price. If I had a thousand shares, I'm not going to get that price. If I had a million shares, I'm not getting close to that price. If I had a billion shares, I couldn't sell them. Well, as bad as of an example it is, you can see the on-chain data in a very clear way. It's like the Trump coin, right? He controlled 80% of the supply that

he launched and they were able to extract, I think, a couple of hundred million. Well, the market cap at the point of extraction was like 75 billion, but that was all the liquidity in that 75 billion dollar value. Your point, the extraction has to be liquidated. Like, you know, Mark and Elon own a bunch of Doge, right? At least that's what we think. And on paper, it's worth a bunch of money. No, it's not. Because the minute one of those two wallets sells one Doge,

that price is collapsed. It's going to collapse. And the only way is if you feed the ducks, right? If you are feeding into that frenzy of the money coming in, XRP comes to mind, which you know, it's both ways though. The last previous cycles, man, it was, they weren't feeding the ducks, they were pulling back as they were selling ducks. I don't know exactly, but it's amazing how people still don't understand that if a foundation or an individual

owns the bulk of something, and they're selling it to you, they're not on your side. Like literally, you are their exit liquidity and it's I meant the most egregious example of that was there was this consulting company that went public in the dot-com boom as a husband-wife team out in California they floated 1% of the company that thing would trade 40 times a day. Like the whole market cap would turn over 40 times and they would just feed another half percent every day until they eventually sold this worthless company which helped companies change their name to dot com. I mean there was

literally no there there and they got super rich and everybody lost money and that, again, that's a story as old as time. Absolutely. And, and the, and the solution's not hard. I mean, people in the meme coin space have grasped like, how do you keep a project from getting rug pulled? I can tell you, keep all your liquidity post launch and put it in after launch. That's how you do it. You know, the

fact that you've got these sniper bots, you know, attacking the market before anybody even sees the market is the issue. It's crazy. I mean, free and fair is the only if the I'm not a big believer in in meme coins generally, you know, it's always monetizing attention. I'm like, no, it's a Ponzi scheme, just like old Ponzi scheme. And that's fine. You want to do a Ponzi scheme, knock yourself out. But don't tell me it's some newfangled thing. It's just this month's edition of what's popular. Okay. But you're not creating any value. And it's part of my struggle. So whenever I talk Bitcoin to Bitcoiners, like, oh, yeah, you're a shit-coiner.

Like, what are you talking about? I own more Bitcoin than you do probably. And not you personally, but most people I talk to. And they're like, no, you own Ethereum. You own Solana. I'm like, yeah, so what? Well, then you're a shit-coiner. No. I Solana. I'm like, yeah, so what? Well, then you're a shitcoiner. I'm like, no. I'm objective.

I'm objective and one, I like to make money and two, I believe that there's a role in the world or smart contract technology. I believe that. Now, whether we know how it's gonna work, but what I don't like, I mean, I love the construct of Uniswap. A decentralized exchange where we control. I love that. Not centralized, not New York Stock Exchange.

What I don't like is that the token doesn't share in the revenues of the DEX. And they even know it, right? They've been trying to do Uni2 and they get close and they... the share in the revenues of claim on equity, no share of debt, no share of cash flows, doesn't mean you should. And just because you can launch a pre-mined meme coin where you own 80% and you feed the ducks doesn't mean you should. Like I have one meme coin, dog, go to the moon, right? How'd I get it? I got it because it was airdropped to me because I did some ordinals and I love it, right?

It was free and fair everybody that had a certain thing on a certain day got some Yeah, they didn't keep it for themselves now. Maybe it'll go to zero too. I don't think I mean, I don't know but That at least to me has a chance Of being okay Yeah, the fair and the fair and equitable distribution is a big deal to me. It's where Bitcoin to me separates itself men from the boys. There is no other coin that has been as fairly and equitably distributed. In fact,

I would argue there's never been any form of value that's ever been as fairly and you know, other than gold, which you had to work to mine, but but I agree with you and I used to be on the other side of this I at the very beginning this is funny the very beginning I was like no It would have been better if everyone in the world Got some and you could decide if we're gonna keep it or not keep it

but but then everyone would have started the same place and and I don't remember I wish I could give credit to the person that you know showed me the light but they said no no no no no this is about effort this is about contributing work proof of work is in the name of work yeah and I was like the name of work. Yeah.'t sit that well with me, but it does in the sense that every single person that wanted to get it for free, not for free, but by putting in energy, you had to convert energy to value.

And now I'm a huge believer in that. And that's why to me- Well, you had to invest in the network. Like why is Bitcoin valuable? It's because networks are valuable. And this is one hell of a network. This is the most powerful computing network the world's ever seen.

It was an epiphany moment for me where it was like, no, no, no, no, it's all about proof of work. It's all about converting energy to value. Well, and to me, what made me love Bitcoin was this notion that there were billions of people that couldn't access financial services. And not only could they access it, they could be an equal participant without a USB. They just needed to take a portion of, in the days their graphics card and dedicated to mining through a partition Or it wasn't that difficult and the other point that I thought was you know

Look at the heart of Satoshi He published the white paper a month before he started mining You could it wasn't a race to the the the golden pot of coins for him race to the golden pot of coins for him. It was this experiment of if you put in the work, you get rewarded for it and other people will recognize the value of that work. And if the risk reward ratio is appropriate, then more people will join you in that effort, right? And it really is one of the most elegant creations ever. I agree. And it's a lofty statement, but it really is. I mean, the genius of just what you described

of the root level network effect. And networks are so incredibly valuable. In fact, the five most valuable assets in the world today are networks. Right? What does Amazon make? They don't make anything. They're a network of buyers and sellers, and they take a cut of transactions. I mean, AWS is a little different, but but their core business is is a network. Apple, right? They yes, they make these but that's not the power is a network. Apple, right? Yes, they make these, but the power is the network.

And so the same thing is true here. And it's really interesting. So I've done a decent amount of work on this and I even came up with my own correlates know, the first guy Sarnoff said networks are valid bill because anyone who can hear a signal, literally like a radio signal is part of a network. So I said, growing up, I could listen to WGN radio in Chicago. I was in Seattle. Yeah, that was not possible. They had the giant antenna, it would bounce up and down off the clouds. So anyone who could hear that signal was part of the network, Sarnoff's Law. It was a linear relationship one-to-one. But then Metcalf came along and said, well, no, no, no, no, no, no, because if Mark and Tillman both hear it and then they connect, that includes, that's another connection. That's a bigger part of it. So it's actually an exponential growth. Okay,

cool. Then Reed came along and said, well, yeah, but once you have that big ball of connected people, there's some people who like video games and other people that like to golf and other people. So there are these subgroups that create even more cohesion. And I came up with something, I named it after a friend of mine, Sofia Vichetto. I said, Vichetto's law is those connections between nodes are not the same. Some are fat, Sophia Visheto, I said, Visheto's law is those connections between nodes are

not the same. Some are fat, some are skinny, some are active, some are inactive. So there's a fourth derivative of how valuable networks and like, I'm an on chain monkey guy, my, my PFP is a, an on chain. I see your shit coin. I'm like, no, no, I'm part of a community that is amazing. And I've gotten involved in some unbelievable things because of the network and because how active certain nodes in that network are. And that community element of Bitcoiners on top of the elegant technology is pretty extraordinary. of Bitcoiners on top of the elegant technology is pretty extraordinary.

Well, I think it's kind of inevitable if you fell in love with Bitcoin before the price made you fall in love with it, you had to appreciate those characteristics. You found the beauty in the architecture. And now, I guess that's the biggest thing about this cycle that I just can't put my thumb on, which is, you know, who controls it going forward? Because I've seen this my whole life. My dad's been a gold bug since I was, you know, since since I can remember and he's been talking about this exact same nature

This characteristic in this relationship between Wall Street and gold in the exact same way that now Bitcoin is Being spoken about it's gonna be an interesting way to see how it plays out. So mark. Thanks for being on the show today We're gonna pivot to Arch public and talk about our outgoes and our Bitcoin I'll go in particular awesome. Thanks for taking the time Good luck to UNC in the in March Madness this week and we'll be seeing you my friend. All right. Thanks y'all You bet so You know and all the things that that Mark talked about there

really speak to having institutional hands on Bitcoin, on crypto in general. Citadel doesn't show up at the party with an interest in just making an appearance, walking in the door and then leaving. Citadel is there now to take over the party. And what does that mean by taking over the party? It means grabbing the transactional value associated with Bitcoin as an asset, crypto as assets, and squeezing all of the transactional value that they can possibly get, whether it's buying or selling, volatility or not volatility, paper Bitcoin or spot Bitcoin,

futures or options, Citadel wants to do it all. And so, you know, our point here at ArchPublic is basically, do you have an institutional level tool that can play at the same level that these institutions are going to play at? And if we can pull up the chart that we've shown there, are going to play at. And if we can pull up the chart that we've shown there, you know, that that is what we do. We provide institutional level tools that people can use to benefit from volatility. There's been a lot of volatility with Bitcoin and crypto over the last month or so. And with that being said, you know, do you have a tool that allows you to buy when things are moving in a certain direction? Sell when things are moving in a different direction and do it in an emotionless Remove the fear and greed from from the process. Yeah a systematic way It's you know

You come up with a plan and then you execute on that plan and it's very hard to execute on a plan that you haven't come up with. So the first order of business is to really put thought into, okay, I love Bitcoin. I love Ethereum. I love Solana. I want to own more of these assets. I also want to take advantage of the volatility of these assets in the form of trying to trade them. But most people don't have the time to sit in front of a computer, nor the attention to give it to become an expert in it. But the market and the charts are nothing more than numbers being displayed in a visual format. And so automation is monitoring the numbers behind the picture.

And when the numbers fit the criteria that you set out for it in order to execute both sell and buy, those criteria don't have emotions attached to it, it just gets done. And so that is, in my experience, the biggest enemy of a trader is the trader themselves and the emotion that they carry into. Not only when you know it cuts both ways if you're in a trade

and you're losing a lot of money there's this fear that grips you and you know there's an old saying my dad used to tell me is sell until you can sleep you know if you're in so deep that you can't sleep you're in so deep that you can't sleep, you're in too deep. Sell, you know, get out. And the converse is, is if you're, you know, in profit and something's going parabolic, the age-old question is, is, oh God, am I leaving money on the table? How do I get out? Well, the answer is different than you think. There is no one, there is no thing that can perfectly time those peaks and troughs.

So what you have to apply is a systematic in and a systematic out, a dollar cost average strategy that has intelligence built in. So it's not just a blind DCA, but you're getting the benefit of multiple purchases when indicators are telling you that the market is exhausted. And so when market gets exhausted on the on the uptick, that's the time where you're supposed to be selling a little bit. And when the market gets exhausted on the downtick, that's when you buy a little bit. And if you could put a strategy in place that doesn't involve you sitting in front of the market and you took advantage of those, you would have exactly what we built here, which is an automated tool that allows you to programmatically buy and sell those positions based upon when the market presents

the right numbers to you, not when you feel like you should do it. Right. And take a look at those entries and exits. And this is, you you know our Bitcoin, Ethereum and Solana algos are all free to the public. So if you want to sign up, it's free $10,000 in transactional value on an annualized basis is free for you to use, use the tool how you want to use it. But taking a look at an ARP strategy with Solana over the past several weeks and the

volatility there, right? So you have purchases at downturns in candles, right? Then you have sales when you have significant upticks in those candles. And again, I'll say this and I said this so many times, you can't follow crypto markets 24 hours a day. It's impossible. So our algos are making trades on your behalf while you're sleeping or while you're at dinner with family or while you're on Vacation or while you're on whatever you happen to be doing. It's not sitting in a front of a computer You know looking at price

on top of that You know It's impossible for you to execute at the level that these algos are executing trades in the midst of fear and greed. Like, can you buy Bitcoin at $78.5 or $79 when all of crypto Twitter is telling you that we're going to $62 imminently, right? Can you sell at 104 or 109 when all of crypto Twitter is telling you you're going to 125? It is a stark and institutional level tool that allows you to say, I want to do this with my crypto portfolio, and I want to set it in motion, and then I want it to just happen and You know, it's very very difficult to find those tools out there whether it's crypto exchanges or the like They simply just don't offer them

We offer these tools for people and we offer them for free. You literally can use Bitcoin Ethereum and Solana for free At ArchPublic and there's our website and Solana for free at ArchPublic. And there's our website, archpublic.com. Go there, take a look, use us. Sign up for a demo and talk to us. Well, sign up for the product, use it for free, and then come tell us your opinion about it. Tell us how we can improve it.

Tell us how you would like to use it, how you are using it. All of that is incredibly valuable to us. We pride ourselves in kind of pushing the barriers of what's available to retail traders. So this is a selfish endeavor that we are going to continue to improve upon based upon customer feedback. So please come use it, come tell us how you like it, schedule a demonstration so that we can show you all the feature sets attached to it. There's literally an infinite number of ways to use the software.

You can set up 50 buy instances that are all different in nature. You could set up 50 sell instances that are all different in nature. You can have an automatic, intelligent buy and sell functionality to it. There's a lot of options here. you can literally customize this to exactly your needs and your desires Well, thanks everybody for taking the time with us. We really enjoyed the conversation with Mark Yusko

You know guy that's been in the space for a very very long time and has skin in the game, right? Runs Morgan Creek Capital that owns a ton of Bitcoin and crypto in general. So fantastic. Well, he's one of the adults at the table that actually understands the whole story, right? There's a lot of adults at the table these days, but they can arbitrage be used in the four hours. Yes, it can. You can use the arbitrage one hour, four hour, one minute. You can customize your timeframes completely. But Mark has this depth of knowledge

that gives him, in my opinion, an advantage over the legacy Wall Street folks. Legacy Wall Street folks have never thought about the network. They've never thought about mining. They don't understand what Bitcoin is compared to all the other ones, Ethereum, Slana. They just have an understanding of the markets and how Bitcoin is now participating in those markets rather than the technology and how Bitcoin made it to be able to participate

in those markets. So I think Mark has a cut above. So a great, great conversation today. Enjoy it thoroughly. All right, everybody. Have a great Tuesday and a great week. We'll see you later. See you guys.

Let's go.