0:09

Ladies and gentlemen, welcome back to the

0:12

crypto market rundown, where we talk about

0:14

everything that's happening in the great world

0:16

of cryptocurrency, from the fundamentals in the

0:18

news to the technicals on the chart.

0:21

We spend the time doing hours of research

0:23

so that you all don't have to. And

0:25

man, what a week for the crypto markets.

0:28

Everything is skyrocketing, but Bitcoin in particular

0:30

is just tearing through 50,000, tearing

0:33

through 60,000. We're now at $61,000 as of

0:35

February 28th. And

0:39

I'm joined by the one and only

0:41

super producer, TiVo. And TiVo,

0:43

I mean, even you have been capitalizing on this.

0:45

I know we've been talking about some killer trades

0:47

that you've been making. So just walk us through

0:49

it. Yeah, I

0:52

got my happy hat on today for those watching

0:54

on YouTube. After all smiles today with Bitcoin 61K.

0:58

And I would like to start

1:00

off by saying we have so

1:02

many awesome teammates, analysts

1:05

and I wouldn't say predictions,

1:07

but just guidance and education on this channel.

1:09

Like if you were listening to this show

1:11

three weeks ago on February 7th, you

1:14

know, we talked about how Robin Hood

1:16

was was doing some stuff with MetaMask

1:18

and they're kind of out, you know,

1:20

outputting their their crypto. I

1:23

don't want to say I guess team like we had the crypto

1:25

GM on months ago and I kind of

1:27

made a pick here. I was like, I think this is like

1:29

a crypto proxy stock and you know,

1:31

you have your coin basis, microstages. That's what everybody's

1:33

talking about on TV. But nobody was saying that

1:35

Robin Hood was a crypto proxy. And if you

1:38

listen to our show on February, I think it

1:40

was eighth, you know, three weeks ago, you

1:42

know, we kind of laid that out for you. And since

1:44

that episode, I would like to give myself a pat on

1:46

the back. Robin Hood is up 47%. Yeah.

1:50

Wow. And you

1:53

know, if you have options on that, then you're up even more than

1:55

40%. Right. That's

1:57

what some are saying. Some are saying that,

1:59

you know, I. can't confirm or deny

2:01

what the trade exactly is but if

2:03

you did have options they would be

2:05

in the 100 to 200 percent area

2:07

which would be great. But

2:10

that's the kind of stuff we do here so like between the

2:12

newsletters and all the work that you do and Bryce does and

2:14

our team does you know you know over

2:16

the last six months as this run-up I

2:18

think Bitcoin last six months is up 134

2:22

percent and during that time you know we've

2:24

educated you on Bitcoin I know our newsletter

2:26

has given out a ton of winners Celestia

2:29

comes to mind and a bunch of others

2:32

that just that's why you listen to the show

2:34

and so you know the numbers are picking up

2:36

and we appreciate you guys listening and we hope

2:39

you're finding value and we hope you're having some fun so

2:41

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Yeah I mean exactly and one of the

5:09

cool things about this price range TiVo is

5:12

if you look at where we're at the

5:14

Bitcoin being above $61,000 this means that

5:18

almost at any point in history

5:21

anyone could have put money into Bitcoin and they would

5:23

be profitable with the exception of maybe a few days

5:25

here and there where Bitcoin was at like 62 to

5:27

69,000 but for 99% of Bitcoin's history anyone

5:33

who would have invested is now profitable

5:35

which is a major milestone I mean

5:37

it means that everyone's probably sitting happy 99% of

5:39

the audience that's listening

5:42

and owning Bitcoin they're probably sitting happy

5:44

if they bought the dip at any

5:46

time in the last like two to

5:48

three years going all the way back

5:50

to 2022 and any time prior

5:52

from those little peaks in 2021 and 2022 then they're

5:56

sitting on some really nice profits

5:58

depending on when they bought and a

6:00

cool little like milestone to note here

6:03

is that the crypto market has officially

6:05

recaptured a two trillion

6:08

with a T two trillion dollar

6:10

market cap, which is wild

6:13

and it's funny because in our show notes,

6:15

we are literally putting this together last night

6:17

TiVo and we were like typing in, you

6:20

know, crypto recaptures a two trillion dollar market

6:22

cap as Bitcoin climbs above 57 K

6:25

and we we wake

6:27

up this morning and we had to redo the show notes

6:29

because Bitcoin is just skyrocketed another $4,000.

6:31

It's on a tear and You

6:35

know, this is the point in time. I'm not

6:38

man I don't know about you but I get

6:40

family members calling me and texting me and being

6:42

like, what should I do here? And the calls

6:44

are finally starting to come back where it's like

6:46

should I follow in now? Should I be exiting

6:49

now and I only expect those

6:51

to escalate even more than like what

6:53

I'm currently seeing Yeah,

6:55

you know, I honestly we talk about this all the

6:58

time in the group chat but yeah, I haven't gotten

7:00

any anybody yet and Besides

7:02

like my close family that knows I'm in the

7:05

space like if they hear something Maybe they'll text

7:07

me about it But you know that outskirt a

7:09

friend group of just people that know

7:11

I'm into this stuff that they have not

7:13

reached out yet Which I find absolutely

7:16

fascinating. Maybe maybe that's where we can jump to their

7:18

first point here in the show notes If

7:21

you're on YouTube, you can see this but we'll walk you through

7:23

it here the Still

7:26

we brought this up the last couple weeks But

7:28

still the Google Bitcoin search

7:31

interest is still low I

7:33

mean, so if you go back to January 2021

7:36

when the price was 41k the interest on

7:39

this scale for the Google search was 85

7:41

and this

7:43

was probably a couple days ago price

7:46

was fifty seven thousand total in 2024 and It's

7:50

at 22 So

7:52

it's for you know for X

7:54

below what people were

7:57

searching when price was 25 30%

8:00

less years ago and I

8:03

could see I've seen some other arguments on

8:05

the timeline that hey maybe this stat doesn't

8:07

mean as much anymore because everybody kind of

8:09

knows what Bitcoin is so you're

8:11

not searching like what is Bitcoin but I

8:14

still stand by it's an important stat because

8:16

I do it sometimes like I'll just Google

8:18

Bitcoin price just to get that quick chart

8:20

and that counts and that just means that

8:22

people just are not the average person just

8:24

is not interested yet and

8:26

and you kind of have to like

8:28

wonder why because the institutional

8:31

interest is just

8:34

absolutely skyrocketing yeah

8:36

I mean like speaking of institutional interest

8:38

I almost forgot I have this shirt

8:40

and I wore it specifically for today

8:42

let me move over there you go

8:44

on the camera and it's Bitcoin eating

8:46

the US dollar eating the euro Pac-Man

8:48

style and I thought it was only

8:50

appropriate today when I when

8:52

I saw the prices I was like hey this is the

8:54

shirt to wear but no you I mean

8:56

you're right I mean Bitcoin is just acquiring so

8:58

much market share it's gaining so much interest

9:01

and I think we can pull up those

9:03

on-chain metrics charts as well to you though

9:05

to kind of look at a couple metrics

9:07

before we go into the actual candle chart

9:10

itself and kind of examine prices but

9:12

two of the things that I noted is that

9:14

Bitcoin's volume and so we can scroll down

9:17

just a little bit but when we go

9:19

and find Bitcoin's volume

9:21

it is just shooting

9:24

yeah that's it right there the Bitcoin on-chain

9:26

volume by month and you we can see

9:28

that volume has been on the climb every

9:30

single month since September so

9:33

you can see that it

9:35

bottomed out in September and

9:37

then after September October November

9:40

December January it is just

9:42

this climbing it

9:45

is just this climbing level of Bitcoin volume

9:47

which is great to see and then if

9:49

we also go over to hash rate I

9:51

think hash rates another really important thing which

9:53

is going to be at the bottom of

9:55

the metrics area but if we go

9:57

all the way down to hash rate

10:00

that's another thing that's just tearing it's

10:02

a it's an important metric that measures

10:04

the like activity and Network

10:07

volume of Bitcoin and so yeah look at

10:10

that hash rate chart since like April again

10:12

It's just a steady rise so many people

10:14

are interested in Bitcoin miners are happy people

10:16

are happy Institutions investors

10:19

are happy retail investors are happy And

10:21

so no matter what kind of metric

10:23

that you look at on Bitcoin whether

10:26

it's volume whether it's price whether it's

10:28

hash rate Whether it's like the ETF

10:30

flows, which we're gonna look at later Everything

10:33

is just pointing up

10:35

over here And we spent a lot

10:37

of time in last week's market update

10:39

talking about just how rare Bitcoin had

10:41

become due to like Over

10:44

the desk trading and over the desk counters

10:46

being really low in supply same thing

10:48

with exchanges We also had the halving

10:50

factoring into all of this and so

10:52

on all these different fronts the supply

10:55

of Bitcoin is really dwindling while

10:57

the demand for it is Exponentially

11:01

increasing which is just something

11:03

really cool. So yeah, I mean T. I don't know if you

11:05

had any thoughts on this But it's it

11:07

just backs the idea of this

11:10

is an awesome spot to be for

11:12

just about every crypto investor No,

11:15

a hundred percent and everybody before

11:17

the ETF was approved was you

11:19

know pitching this? Supply

11:22

demand supply demand and then obviously looking out

11:24

to the halving supply demand is what you're

11:26

looking at and it's it's Obviously

11:29

playing out for the Bulls right now to a

11:32

T. So it's like you have these

11:34

charts I see this every single day whether it's

11:36

pomp or Matt Hogan or Our

11:38

guy James Safar. They're posting these charts and it's

11:40

like Bitcoins purchased only

11:43

by the ETF and it's you know, ten

11:45

thousand a day twelve thousand a day And

11:47

then obviously the new Bitcoin produced by miners

11:49

a day is 900 So

11:51

the supply-demand ratio is totally skewed right

11:54

now and that's that making sense when

11:56

you see the price rocket So

11:58

then so then you're kind of like Are you buying

12:01

into that hype totally like no whales are gonna

12:03

come in and drop the market it's gonna be

12:05

propped up and in this

12:07

kind of continuation of supply to man keeps playing out

12:09

because if that's the case and that's what a lot

12:11

of the People on TV or

12:13

see I saw Scaramucci given the same

12:15

the same speech last night on CNBC

12:17

And it's like if that is the

12:20

playbook and that keeps playing

12:22

out where price in

12:24

theory doesn't stop Going up. We

12:27

know is this is a risky thing

12:29

to think like that But

12:31

what like I feel like we're not even there

12:33

with the retail FOMO that we just talked about

12:35

So we're like it is an interesting

12:38

point where like we keep I

12:40

wouldn't even call it inching higher We've inched

12:42

higher like maybe recently, you know towards the

12:44

ETF It's a slow and steady incline and

12:46

then some wild pops this week But

12:49

I feel torn like part of me wants to be like

12:52

it's so supply and demand driven that this thing's

12:54

never gonna stop going But

12:56

then like I don't want to get caught off-sides,

12:58

you know, yeah I mean man,

13:00

I agree with you. It's it's at a

13:02

unique spot and I think that

13:04

everyone has their own Investment

13:06

thesis right everyone's trying to get to

13:08

a certain point and for some people

13:11

with Bitcoin approaching all-time highs Guess

13:13

what? They've hit their goal Maybe their goal was

13:15

to do a 2 or 3x and now they're

13:17

there and they don't need that additional risk But

13:19

then there's gonna be other investors out there who

13:21

are saying hey, I'm actually investing in Bitcoin, you

13:23

know from 15 2030 thousand

13:25

with the expectation of it hitting a hundred

13:28

K and so they're not quite there yet

13:30

And I think it can just be a

13:32

friendly reminder that while I personally believe and

13:34

a lot of us personally believe that Bitcoin

13:36

is Going higher. Everyone has their own investment

13:38

thesis and They have their

13:40

own cash out point so I

13:43

want to kind of continue along those the

13:45

lines of the ETF side before we get into

13:47

the charts tevo and Just show

13:49

everyone some of those metrics that you were

13:53

talking about So if we

13:55

go ahead and we actually look at this one on

13:57

the screen for all the YouTube watchers explain

14:00

it for everyone that's watching on like

14:02

Apple Music and Spotify too, we can

14:04

see the ETF flows as

14:06

you mentioned just looking phenomenal. So this

14:09

top chart over here where if we

14:11

look at the cumulative Bitcoin

14:13

ETF volumes, just parabolic, just non-stop

14:15

up. There's no drop in volume.

14:17

It is just up and up

14:19

and up ever since release. And

14:22

now it's hit the new high

14:24

of 58 billion. We

14:27

also have the spot Bitcoin ETF flows

14:29

right here in the middle. And what

14:31

this shows us is the amount of money

14:33

flowing in versus out of these Bitcoin ETFs.

14:36

And at the beginning, we talked about this

14:38

on one of the first market rundowns about

14:40

how there was a ton of outflows coming

14:42

in from grayscale, pretty much leading the way.

14:45

Now if you look at the most

14:47

recent data that we have, it is

14:49

astronomically in favor of the

14:51

bulls. So if we go off like

14:54

last Friday, for example, we had a

14:56

six to one ratios of inflows versus

14:58

outflows. This means that we had 50 million

15:01

in outflows, but we had 300 million in

15:03

inflows. So

15:07

there was $300 million or six times more

15:09

buying than there was selling at this price.

15:11

If we go off of another data point

15:13

from two days ago being February 26th, we

15:16

had 42 million in

15:18

outflows and 275 million in inflows. And

15:24

so BlackRock is really leading the charge here.

15:26

They are the biggest inflow leader followed by

15:29

Fidelity. And then you have a couple of

15:31

other ones as well. But

15:33

this just, again, goes to back up

15:35

the point that you were making and

15:37

that if this continues to happen, then

15:39

prices will just continue to rise. You

15:41

can't have this obscure

15:44

one-sided ratio

15:46

where it's six, seven,

15:48

eight times the amount of buyers to

15:50

sellers coming in every day in terms

15:53

of hundreds of millions of dollars, which

15:55

equates to billions over the course of

15:57

every week. You can't have a

15:59

ratio. like that continue and prices stay

16:01

the same or go down. It will

16:04

force prices to appreciate and rise, not

16:06

even including all the supply issues that we talked

16:09

about in last week's episode. Yeah,

16:12

and I think the GBTC had

16:14

its lowest outflow day. The

16:16

two days ago, the way that one you just pointed

16:18

out, that was the stat. So that was the lowest

16:20

outflow day since the ETFs were approved. That

16:22

is actually a huge, huge factor.

16:26

Things are swinging here. So let's

16:28

look at this one. So this

16:30

is from JP Morgan. So JP

16:32

Morgan, a research analyst, came out

16:34

and said, we see cryptocurrency prices

16:37

higher, sustained increases from current levels.

16:39

That's from a JP Morgan analyst, and we all

16:41

know who the boss of that guy is. He's

16:44

still on his anti-Bitcoin parade every day. It's

16:47

fascinating. Dude, it's so funny because I was

16:49

talking to someone when I was taking a

16:51

little vacation about a week or two ago,

16:53

and he was like, yeah, I bet you

16:56

Jamie Dimon really buried Bitcoin with how anti-Bitcoin

16:58

like him and all of JP Morgan is.

17:00

And I was like, this guy

17:02

doesn't know what he's talking about. JP Morgan

17:05

is not anti-crypto at all. Jamie

17:07

Dimon doesn't particularly like it, but you

17:09

look at the rest of JP Morgan

17:11

and maybe his words say

17:14

one thing, but their actions say the complete

17:16

opposite. And then again, you have an analyst,

17:18

like you mentioned, making these kind of claims.

17:21

And yeah, so it's a wild world. And then you

17:24

have Larry Fink, who's a huge advocate of it

17:26

now. And so I feel

17:28

like Jamie Dimon is starting to really

17:30

lose allies on the anti-Bitcoin front. And

17:33

again, he's just fighting a losing war. And

17:35

I feel like the more that he talks

17:37

negatively about it, the higher prices continue to

17:39

rise. So at what point is he going

17:41

to either die on his hill or

17:43

admit that he was wrong? I think that's what we

17:45

have to come to. Have

17:47

that stance when it drops from the 69k

17:50

to 15k and there's fraud with SPF. But

17:55

the Bitcoin haters that are on TV all

17:58

the time, I always have to. it

18:00

on the background when I'm working. It's

18:02

been so funny just as

18:05

a human interest piece just to slowly you could

18:07

see it in their face that they've just been

18:09

parading an anti crypto and anti

18:11

Bitcoin and it's just ripping in their face and

18:13

it's they're getting to the point now like this

18:15

week literally where you could just kind of see

18:17

it they're like but yeah

18:21

and it's you could just tell like they're like

18:23

damn like I've been given this take for two

18:25

years now and it's just just ripping

18:27

in my face right now price appreciation so it's

18:29

a fun time it's a fun time to be

18:31

on our side of the boat we're having fun

18:33

today yeah I mean we really are

18:35

and let's just look at the Bitcoin chart again if

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free KPI checklist. Jake

20:56

Knapp is the inventor

21:00

of the design sprint and the New York

21:02

Times bestselling author of the book Sprint.

21:04

He's also the co-founder of Character, a

21:06

venture fund for early stage startups. How

21:09

and why did you start using Miro? I

21:12

came from this position of thinking, I don't

21:14

want to be doing stuff online to thinking

21:16

now when I do a sprint in person

21:18

with a company, it's like we're going to

21:20

use Miro even though we're all in the

21:22

same room because that's a better way for

21:24

us to get this work done. As an

21:26

investor, we're basically investing in their ability to

21:28

solve problems. We're saying, we think this group

21:30

of people is going to be able to

21:32

solve a problem in a really great way

21:34

and create value by doing it. And actually

21:37

you need to give people the tools that

21:39

can help them make decisions, help them collaborate,

21:41

help them visualize and see things in a

21:43

different way. And Miro does all those things.

21:45

My inner resistance level beyond just the major

21:47

ones was $60,000. This is the bottom of

21:51

a previous support zone. It is support that

21:53

turned into resistance right here on the weekly

21:55

timeframes. So we had three weeks of support,

21:57

two weeks of resistance after this. Bitcoin

22:00

is a very minor resistance level and guess what? Bitcoin

22:03

just blew right through that one as well

22:05

and so it's making its way back towards

22:07

these all-time highs of 68 to 69 thousand

22:10

dollars and guess what? After

22:13

Bitcoin gets through that it enters something

22:15

called price discovery mode and this means

22:18

that once price has never been at

22:20

that level before there is no prior

22:22

resistance to look at and it enables

22:25

price to move in a very volatile

22:27

way towards the upside because again there's

22:29

no like chart history and so when

22:32

we're looking at times like this Bitcoin

22:34

was consolidating down here for a while

22:36

because there's a lot of chart information

22:38

and we have the you know previous

22:41

support levels that turned into resistance there's

22:43

a lot of stuff for Bitcoin to kind of work its way

22:45

through as it was going from 15 all

22:47

the way back up to 50. Now

22:50

that it's above 50 there's not much

22:52

resistance left as it approaches the highs

22:54

and so I guess the real question is

22:56

are we going to blow through the all-time

22:59

highs on our first attempt or

23:01

are we going to test these all-time highs,

23:03

see a little bit of resistance and maybe

23:05

wind back down. Now

23:07

I'm a big advocate of the trend as your friend

23:09

and I don't want to fight the trend however

23:12

you know I think there

23:14

are those two scenarios and I kind

23:16

of want to backtrack a little bit

23:18

because if we blow right through the

23:21

resistance of this all-time high if we

23:23

just tear this thing through on our

23:25

first attempt it will prove just how

23:27

bullish and strong the

23:30

buyers are at these levels. If

23:32

that happens wildly bullish it's a

23:34

huge testimony and show of

23:36

confidence however that's a really hard

23:38

thing to do so again if

23:40

we do that man we are

23:42

looking phenomenal for the upside and we

23:44

are you know probably going to go higher than

23:47

I anticipated us going this year. However

23:49

if we do kind of come up into the

23:51

zone which should be a fairly large resistance level

23:54

as we approach the highs again the final

23:56

major resistance level then I don't think it's

23:58

impossible if. Word is if if

24:01

we see the rejection up here as we approach

24:03

the highs I don't think it's impossible for Bitcoin

24:05

to kind of fall back down to maybe 50,000

24:09

even maybe the mid to high 40,000

24:11

so do something kind of like this

24:14

where it retraces back down and Then

24:16

see some support down here before

24:18

ultimately Continuing to rally

24:21

to new all-time highs. So that's

24:23

really the two situations that I see playing out if

24:26

we blow through it huge testimony

24:28

of how Like

24:30

strong the bulls are and who's really in control

24:32

of this market if we do see a rejection

24:34

I don't think we're headed back down to you

24:37

know, 10k 15k 20k 25k. I don't think it's

24:39

anything like that I

24:41

think we have a little bit of a retracement

24:43

a little bit of a pullback and we've seen

24:45

this right here on the charts When Bitcoin went

24:47

all the way up to 49 retrace back down

24:49

to 38 We saw it

24:51

happen over here on Bitcoin's chart when it went all

24:53

the way from 15k all the way

24:55

up to like 31k 32k

24:58

then spent about a month or two

25:00

retracing from 32 back down to 24 then

25:02

rallied to new highs and so I don't

25:04

think It's like completely out of the picture

25:06

to say that we just have another one

25:08

of these where it goes up Flags down

25:10

breakout up flags down breakout and I don't

25:12

think it's impossible to say that we see

25:14

another one of these But

25:16

I want to make it clear that my

25:18

ultimate view of this in the

25:20

mid to long term is still Very

25:23

much to the upside. So I'm looking at this

25:26

and I for one I'm excited

25:28

and then I want to talk about aetherium as well

25:30

I know we have some metrics to look at on

25:32

aetherium But you know people are always asking about the

25:34

altcoin space and it's funny because I drew

25:36

this a couple of days ago Basically saying

25:39

I think that aetherium has room to

25:41

catch up to its final Previous

25:44

swing high which is what Bitcoin just

25:46

broke through at fifty two

25:48

thousand dollars now aetherium hasn't retested that yet

25:50

But you can see that this is an

25:52

area that used to be resistance or

25:55

excuse me used to be support Turned

25:58

into resistance and now it's working its way

26:00

back up to retest this level around $3,500

26:02

to $3,600 on the Ethereum chart. And

26:08

this should again be a resistance, but if

26:10

it is anything like the Bitcoin

26:12

chart, then it

26:14

will inevitably break this. Maybe we

26:16

see a little bit of a test of

26:18

this, a consolidation back down, and then the

26:20

breakthrough. But ultimately, I'm expecting

26:23

Ethereum to go higher, which

26:25

leads me into some of the metrics. Because

26:27

in just a few weeks, as we can

26:29

kind of transition over here, in

26:32

just a few weeks, we have the

26:34

Ethereum then CUN upgrade going live on

26:37

mainnet. We also have the fact that

26:39

Ethereum has the ETS coming up. The

26:41

deadline is in March, or

26:43

excuse me, I think May 26 or 23, somewhere around there. And it has about

26:48

a 60 to 70% chance of

26:50

approval from our conversations with different

26:53

analysts from Bloomberg and other sources,

26:56

which is pretty positive. Because

26:58

originally, people were like, I don't know, Ethereum

27:00

is a little bit more complex, it has

27:02

more moving parts than Bitcoin. But

27:05

it looks like that Ethereum has

27:07

a really good chance of getting

27:09

its ETFs approved. And the reason

27:11

that this is important is because

27:13

if you think that Bitcoin is

27:16

moving a lot, Ethereum is a

27:18

fraction the size of Bitcoin. So

27:20

if we see even a portion

27:22

of the same inflows come into

27:25

Ethereum, it should have a drastically

27:27

bigger impact on price because of its

27:29

smaller market cap, which is something

27:31

to kind of note. And then the

27:33

final thing, Tevo, if you can pull it up,

27:35

I have the inflation chart for Ethereum.

27:38

And a lot of people don't know this. But

27:41

Ethereum is actually deflationary

27:44

now. And so

27:46

on that inflation chart, we can see not

27:48

only like the numbers, but there's also the

27:50

option to go to that line chart right

27:53

below all that code. So

27:55

if you click on the line chart

27:57

option, what we can actually

27:59

see what the inflation

28:01

and deflation rates of Ethereum have

28:03

been. And for the last year

28:05

plus, Ethereum has been deflationary.

28:07

And so if you hover over the

28:09

current zone of where we're currently at

28:12

in February on that inflation chart, you

28:14

can see that we're sitting at around

28:16

a 0.4 to 0.5% deflation rate for

28:18

Ethereum. So

28:21

most cryptocurrencies have a max supply, which

28:24

means that they are inflating until they

28:26

reach that max supply. Ethereum's

28:29

a little bit different. Ethereum is

28:31

actively deflating, which means that more

28:33

Ethereum is being burned every single

28:35

day than is being created. So

28:37

every single day, every single year,

28:39

this is the average rate of

28:41

deflation. And you can see that

28:43

it's waxed and waned a little

28:45

bit. The only month of inflation

28:48

that Ethereum has had was back in October and it

28:50

was like 0.2 to 0.3% of inflation for

28:54

one out of the last 12 months. And

28:56

now we're back to it being deflationary

28:58

again. So we have this deflationary asset

29:00

that is having a ton of fundamental

29:02

stuff coming its way. Its

29:04

chart is rising as well. And

29:06

I think it's something to kind of keep

29:08

your eye on because a lot of people

29:10

were fading Ethereum heading into this bull market.

29:13

And I still think that it's strong. So I don't think it's

29:16

getting nearly the amount of hate

29:18

that it's deserved. They were

29:20

taking it on Twitter for a while. Oh

29:22

man, they were doing it dirty. It

29:24

was, I remember seeing post,

29:27

Steve, I'm sure you saw some of these where people

29:29

were like, I'm exhausted defending

29:31

Ethereum. I'm exhausted being an

29:33

Ethereum bull. Yeah, no, 100%. And

29:36

this week while we're recording, we have

29:38

our colleague and analyst, Matt, he's at

29:40

ETH Denver. And

29:43

I don't know, something I always look

29:45

for at these conferences, I think we

29:47

had one, it was, what was it,

29:49

Art Basel. So it was Art Basel

29:51

in the fall and that week alone,

29:53

like Avalanche ripped heavy. So it's

29:55

like, you never know at these conferences who

29:57

kind of talks to who and who maybe

29:59

gets. bullish around some of these projects.

30:01

And obviously for East Denver,

30:03

it starts with Ethereum. And so, I

30:06

mean, we've kind of already had such a big

30:08

rip this week, but who knows what people are

30:10

learning and connecting over at that conference. Just one

30:13

final point at the, you know, I always like

30:15

to give the retail's perspective. So the last time

30:17

we were at these prices, the

30:20

Coinbase app, another kind of like similar

30:22

to the Google searches for Bitcoin. The

30:24

Coinbase app was number one, you know,

30:27

on obviously the finance apps, the top

30:29

app store downloads, it was in the top 10 of

30:32

all apps. And right now, as

30:35

of yesterday, the Coinbase app is

30:37

number 25 in finance and

30:40

doesn't even crack the top, you know,

30:42

100 in all apps on Apple. So

30:45

the retail interest is just

30:47

not there. With

30:49

all the great stats we've thrown out, with all the

30:51

TA and, you know, eyeing

30:53

all time highs, it's just people aren't there

30:55

yet. But they're coming,

30:58

they're coming. And I know someone in

31:00

particular, a few of the listeners might

31:02

know who he is. He goes by the name of

31:04

Michael Saylor. He's doing some buying right now, isn't that?

31:07

What a goat. To say the least, isn't that right,

31:09

TiVo? Absolute goat. I mean, give

31:11

this guy his flowers. I

31:14

don't think any, you know, when you're up billions of

31:16

dollars on a trade, you know, I think, you know,

31:18

you get the credit you deserve, but man,

31:20

people were throwing this guy in the

31:22

gutter, you know, during the bear market

31:24

and, you know, calling for his, getting

31:27

margin called and the whole thing

31:29

failing. And this guy just, diamond

31:31

hands, just kept gathering Bitcoin at

31:33

all prices and still is gathering

31:35

Bitcoin to this day. This

31:38

tweet is from two days ago and he's

31:41

like, hey everyone, by the way, we bought

31:43

another 3000 Bitcoin that

31:45

equated to $155 million at

31:49

an average price of $51,813 per Bitcoin. And

31:55

that was just a few days ago. So like

31:57

even now, like recently he's been buying. Guess

32:00

what if he bought at an average price of

32:02

51,000 each Bitcoin that he bought all 3,000 of

32:05

them is now at $10,000

32:08

in profit, so You

32:12

know hats off to mr.

32:14

Michael sailor over there. He's doing some great things One

32:17

of my favorite things like when I first Really

32:19

started diving into crypto Twitter like the deep realms

32:21

of it and learning the players and the game

32:24

It's like alright Michael sailor is one of the

32:26

biggest guys and

32:28

just like obviously a very very smart human

32:30

being and Can you kind

32:32

of listen to his talks and you take

32:34

him very seriously of when he's explaining stuff?

32:36

But he also he also has like a

32:38

comedic side He enjoys the memes like he

32:40

was sparring with Dave Fortnoy My

32:43

old boss on Twitter like Dave Dave was talking

32:45

about how he like sold his Bitcoin and he

32:47

was upset and he got screwed By SBS and

32:49

then sailor like came in, you know

32:51

from the rafters and was like you never

32:53

sell your Bitcoin Dave Is

32:56

it so easy? He's chopping it up with everybody and

32:58

I think that's you know, a little little fun never

33:00

hurt anybody So I love to see you know, one

33:02

of the top guys in the space You

33:05

know mixing it up on all levels Yeah,

33:07

it doesn't take it too seriously, right? Like it's

33:09

like you said you got to have fun with

33:11

this stuff Like if you're getting in you're taking

33:13

it too seriously and you're not enjoying yourself and

33:15

you're doing it wrong Like there's especially on days

33:17

like today. You gotta enjoy yourself a little bit

33:19

meme around a little bit Relax

33:22

have some fun. And so it's good to see that even

33:24

the industry leaders are Are

33:27

doing the same thing? No 100% and

33:29

then same thing with like some

33:32

of the commercials from the Bitcoin ETFs have

33:34

been have been a fun I guess bitwise

33:36

specifically did the most interesting man in the

33:38

world the old those sachies guys Our

33:41

guy Matt Hogan wasn't that one? Yeah,

33:43

I think the more fun it kind of

33:45

speaks to you know The younger the

33:47

new up-and-coming generation of finance years

33:49

in the Bitcoin space Yeah,

33:52

man. Well, we saw this

33:55

interesting study the other day to TiVo that

33:57

was talking about just like the current state

33:59

of of Ethereum versus

34:01

Bitcoin and where institutional

34:04

versus retail interest is at.

34:06

And it was coming out from Bybit. Now,

34:09

this study I found particularly quite

34:12

fascinating because what it said is that

34:14

institutions are heavily allocating

34:17

their portfolios to Ethereum and

34:19

Bitcoin, while retail users

34:21

are more bullish on Bitcoin according

34:23

to this Bybit report. And so essentially what they're trying

34:25

to say over here is that

34:28

there is a shift in market

34:30

sentiment since around December with

34:32

institutions now actually favoring Ethereum

34:35

due to the anticipated Dancun

34:37

upgrade, as we were talking about

34:39

just a little bit ago. Yeah,

34:42

basically the stance that they're having is

34:44

that there is this shift

34:46

for Ethereum actually gaining

34:48

more attraction and institutional interest. And I

34:51

think the quote that they had was

34:53

that Ethereum is now the largest

34:55

crypto asset for institutions. And so I'm looking

34:57

at this going, you know, can that really

34:59

be true? And again, this is all just

35:01

according to the Bybit report. But

35:04

if it is, then that kind of would

35:07

mean that the big

35:09

money, the smart money, the institutional side is

35:11

saying, hey, Ethereum is at a deficit. And

35:13

we talked about this a little bit earlier,

35:15

but maybe they see Ethereum

35:17

playing a little bit of a catch

35:19

up game back to Bitcoin. And

35:22

they talk about how even from like an institutional

35:24

side, the Ethereum

35:27

competitors or the layer one

35:29

competitors to Ethereum, things like

35:31

Solana, Cardano, Celestia, Injective,

35:34

you know, you name it. They're saying

35:36

that from an institutional perspective, they're not

35:38

catching on it nearly as much as

35:40

Ethereum is. And a lot of people,

35:42

again, are seeing, hey, if we want

35:44

to make an alternative investment in crypto from

35:46

an institutional side, they still see Ethereum as

35:48

like the golden goose of alternative

35:50

crypto investing. So I found it interesting. You know,

35:53

just a little bit of food for thought, you

35:55

know, whether you disagree with it or agree with it.

35:58

Our job is to kind of just bring. of the news and this

36:01

is a report that came across our

36:03

desk that I think we all found

36:05

interesting over here and who knows, maybe

36:07

there is a play leading up into

36:09

the upgrades and into the ETFs

36:11

and all that stuff. So it's something

36:14

to consider and some food for thought. Yeah,

36:17

no, 100%. I mean, you saw

36:19

the run up

36:21

obviously once the ETF did

36:24

get approved and was a sell the news but

36:26

then if you sold the news, I

36:29

mean we bounced off that support level and just rocketed

36:31

to where we are now. So it's

36:33

something that maybe they have the playbook

36:36

for now because it was obviously the

36:38

first crypto ETF ever and we'll

36:40

see if it follows suit. Absolutely.

36:44

And hey, before we let everyone go, we always like

36:46

to leave things on a little bit more of a

36:48

lighthearted note. And so Tevo, I've actually got a game

36:50

for you. Yeah,

36:53

play the game but also just a note so we

36:55

don't sign off. While we were on the

36:57

air, I came up with like two more like little

36:59

fun tidbits. Let's do it. I

37:01

love this. A couple of Tevo tidbits and the show. Let's

37:03

do yours first and then I got a couple more. Perfect.

37:06

Well, I want everyone that's listening in

37:09

to kind of participate too here because

37:12

what I want to go through is the

37:14

percent breaking news. Just got a text. Hey,

37:16

Tevo, what's going on with Bitcoin? Do you

37:18

think Doge will go to the moon as

37:20

well? My buddy Jake. Shout

37:23

out Jake. We talked about

37:25

this at the beginning of it. Yeah. Shout

37:28

out. Friends and family are going to start hitting

37:30

you up and talking about crypto. This is

37:32

just proof of it. Breaking news. Shout out

37:34

to Jake. Well,

37:37

okay, so let's talk about this game. This

37:39

game is what is the percentage of Bitcoin

37:41

supply that has been active over

37:44

a specific time period. And to clarify

37:46

this, it is just has

37:48

Bitcoin moved around inside of these wallets? It doesn't

37:50

matter if it's on an exchange. It doesn't matter

37:52

if it's a private wallet. What

37:55

percentage of Bitcoin has moved?

37:57

Not Just sat still and not done anything. The

38:00

Time frame. Surrender. Look at the five year,

38:02

the three year, the one year, the three

38:04

month, and the one week. So it's not

38:06

things off with the bigs time frame. The

38:09

five year, How much. You.

38:11

Know what kind of activity d thing

38:13

that we've seen across Bitcoin over the

38:15

last five years? What portion of Bitcoin

38:17

supply has moved around have been. Yeah,

38:20

my theory was. High on the

38:22

five. Yeah, for high on the five year and

38:25

then obviously more recently with the theory of you

38:27

know, houghtaling and diamond hands, lot less on going

38:29

to start big and then worked my way down.

38:31

So to start going to go eighty percent. Eighty

38:34

percent. See, people would think that because

38:36

they'd say, hey, you know, Bitcoin has

38:39

nineteen pushing twenty million of supply. You

38:41

know, that's a large portion of the

38:43

supply and seed Think a large portion

38:45

would be active. It's actually sixty eight

38:47

percent. Will cost the a

38:50

present so it's almost were Get into the

38:52

point where almost one third of bitcoin hasn't moved

38:54

and the last five years in that makes

38:56

you wonder you know is a third of Bitcoin

38:58

last is a third of the supply just locked

39:00

away in last wallets or something like that.

39:02

Who knows. Are. Moving onto the

39:04

three year. In. A what percentage of

39:07

bitcoin supplies moved around have been active in

39:09

the last three years and you're right in

39:11

that the trend should re ice. I would

39:13

say lower size Lakeside customize inertial guess and

39:15

a half. So. Many go

39:17

at thirty their. I would say forty but

39:19

since it was lower than initially. oh you're

39:22

thirty five percent. Clothes were fifty four

39:24

percent a limit over this. Turned out of

39:26

busy adam all over the. Fifty

39:29

four percent of bitcoin is moved in the

39:31

last three years. almost half of bitcoin supply

39:33

are really only half of bitcoin supplies moved

39:36

around in the last three years are I

39:38

were in? have a bigger jump now gone

39:40

all way down to the one year how

39:42

much of that coin supplies moved in the

39:45

last year Tivo. in the

39:47

last year, so we've seen tons of

39:49

a price preciation. Were

39:51

getting ready for the having. And.

39:54

I'm gonna go with subs. Want to

39:56

Yemenis eighteen percent. Love.

39:58

Him more work thirty. 31% which is okay.

40:01

It's still wild because Almost

40:05

you know less than a third of Bitcoin supply

40:07

has moved in the last year again this goes

40:09

back and we're gonna keep kind of hammering this

40:11

home as we get lower and lower, but Man

40:15

Bitcoin is a lot more rare than people

40:17

think you would expect that of all times

40:19

the last year would have just Insane amounts

40:22

of activity across all Bitcoin and it is

40:24

but it's from a concentrated part of Bitcoin

40:26

supply again going back to that idea It's

40:28

a lot more rare than people think so

40:30

moving us down to the small time frames

40:33

We have the 90 day which

40:35

has actually been on the uptick here recently And

40:38

then we have the one week after that. So

40:41

let's do 90 day Give

40:43

me your best guess Going

40:47

for Yeah,

40:49

I mean even less like 15% It

40:54

was coming in at 16% 16%

40:58

and then the one day or I'm not the one day the one

41:00

week. Let's go with this one. This one's really low

41:02

I'll give you a hint Five

41:06

five percent 3%

41:09

in the last week only three

41:11

percent of Bitcoin supply has moved around in the

41:13

last 90 days It's only been 16% and last

41:16

year. It's been 31% and the last three years

41:20

It's been 54% and in the last five

41:22

years, that's been 68% So

41:26

again, if you're if you're holding

41:28

your Bitcoin know that just

41:31

because you see the the full

41:33

circulating supply doesn't actually mean that

41:36

that is what is moving and Held

41:39

still because there's definitely been some Bitcoin to

41:41

disappear or in the very least put

41:43

in the cold wallets over the past

41:45

couple years here I I

41:49

Went 0 for 6 there,

41:51

but I got closer. I feel like each time

41:53

so I'll take I'll take a small W One

41:55

thing I don't miss is the memes. So I

41:57

got all the memes. That's one thing like I'm

41:59

not the wallet guy you don't come for me

42:01

for wallet statistics you come for me for the

42:03

memes so I'll take that All

42:07

right, let's go two final fun ones to end

42:10

the day, so did you see this Sbf

42:13

is in jail Giving

42:15

out crypto tips. He's talking to

42:18

the guards, and he's he's recommending

42:20

Solana still oh Man

42:23

you know this might be the one thing that I

42:25

agree with him on I do like Solana

42:29

But it has me The

42:31

very thing that he's in life in prison

42:33

for he is now giving financial advice on

42:35

so Dude,

42:38

he's got it all he's joined. He joined

42:40

a gang. He's still slinging Solana like well.

42:42

I mean what a legend Man

42:46

man, I saw that picture of him. I think we

42:48

talked about it last week, so It's

42:51

a wild picture. He just doesn't fit in

42:53

yeah Well, they said he

42:55

does fit in because he doesn't snitch so he

42:57

didn't snitch so he's he's a gangster

42:59

now. He's in a gang Sbf

43:04

part of me originally thought that he

43:06

was like maybe gonna finagle his way out of

43:08

it somehow, but No

43:11

Yeah, I mean he hasn't gotten his full sentence

43:13

right. He's just on his own holding right. He

43:15

didn't get like a years Yeah, I don't think

43:18

I'm not even sure anymore. I know for a

43:20

while. He was like on the fence I stopped

43:23

tracking the story. Yeah, no, I don't think I

43:25

don't think anything's he's like he's found guilty But

43:27

waiting on sentencing so we'll see if his parents

43:29

can can come up with enough money to get

43:32

him a lower Lower years, but

43:34

we'll see so the last thing and all in

43:37

All right, let's go two final fun ones to

43:39

end the day. So did you see this? Sbf

43:42

is in jail Giving

43:45

out crypto tips. He's talking to

43:48

the guards and he's he's recommending

43:50

Solana still Oh

43:53

man, you know, this might be the one thing

43:55

that I agree with him on I do like

43:57

Solana But it has me The

44:01

very thing that he's in life in prison

44:03

for he is now giving financial advice on

44:05

so Dude,

44:08

he's got it all he's joined. He joined a gang.

44:10

He's still slinging Solana like well,

44:12

I mean what a legend Yes

44:16

Man, I mean I saw that picture of

44:18

him. I think we talked about it last week. It's a

44:21

It's a wild picture. He just doesn't fit

44:23

in. Yeah, they said well He they said he

44:25

does fit in because he doesn't snitch so he

44:27

didn't snitch. So he's he's he's a gangster now

44:29

He's in a gang SBF

44:34

part of me originally thought that he

44:36

was like maybe gonna finagle his way out of

44:38

it somehow, but No

44:41

Yeah, I mean he hasn't gotten his full sense,

44:43

right? He's just on his own holding right? He

44:45

didn't get like a years Yeah, I don't think

44:48

I'm not even sure anymore. I know for a

44:50

while. He was like on the fence I stopped

44:53

tracking the story. Yeah, no, I don't think I

44:55

don't think anything's he's like he's found guilty But

44:57

waiting on sentencing so we'll see if his parents

44:59

can can come up with enough money to get

45:01

him a lower Lower years, but

45:04

we'll see so the last thing and I'll insert

45:06

the clip here But

45:08

just want so so we'll play the clip

45:10

now. There's underperformance. Okay I Don't

45:15

want what is Bitcoin ever done now mankind. Do you

45:17

ever are you ever big one of Bitcoin phones? Watching

45:20

come here. I need you. I'm the way Well

45:23

coming up You know that we're

45:26

ball is Apparently and so that

45:28

was that was Jim Kramer crying about

45:30

Bitcoin and if you're in this morning

45:32

on CNBC Like he he

45:35

couldn't stay on track with what the topics were

45:37

for his own show You

45:39

know David favor was trying to keep him

45:41

on track and he just kept veering off

45:43

and crying about Bitcoin and aetherium And

45:46

you know just being like well, why would we even buy

45:48

stocks? Why not

45:50

just buy something that never goes down it only

45:52

goes up and so he was he was beside

45:54

himself. I Mean

45:57

it's funny because he's had all these quotes of

45:59

like bitcoins dead It's not doubt don't invest

46:01

a ball. I mean I've posted memes about

46:03

it You've made memes about it and

46:05

here we are, you know time is

46:08

the ultimate judge and as

46:10

we approach these new highs It's

46:12

looking like it's on our side and also breaking news

46:14

as we've been on here. We were talking about eat

46:17

at 3300 It's now

46:19

broken 3400. So breaking news We

46:22

are continuing the chug to the upside bitcoins

46:24

over 62 K now 60

46:26

years a baby for let's

46:28

go I love a live show. Let's go

46:32

Like what like what or I mean we don't

46:34

we don't really get too animated on

46:36

this show But like You

46:55

never know that BlackRock

47:23

filing ETS for scams, is BlackRock,

47:25

Fidelity, Van Eyck, Invesco, JP Morgan,

47:27

are they all part of the

47:29

scam? At that point, is

47:32

it a scam anymore? Every major

47:34

credible financial institution is working with

47:36

this and allowing their customers to

47:39

buy it, but somehow it's a scam. It

47:42

just doesn't make any sense. It would

47:44

have to be the most elaborate,

47:46

orchestrated, governmental,

47:48

the government would have to be in on it.

47:51

It just doesn't make any sense anymore. It's like a conspiracy

47:53

theory that it's a scam as opposed to it being a

47:56

viable financial product. Why

48:01

would all of the biggest asset

48:03

managers on the planet, people who

48:06

have trillions of dollars in assets

48:08

under management for millions and millions

48:10

of people, like why would they

48:12

be looking at it and

48:14

offering it up and investing in it if

48:16

they didn't see a bright future? And that's

48:18

just where we're at now. So, man,

48:21

I agree with you. I think it's hard to turn a blind

48:23

eye to it now. I'm not saying you need to buy it

48:25

while it's at all time highs or near all time highs. My

48:28

belief is that when this thing does dip

48:30

and pull back, it's worth paying

48:32

attention to. And I think it's worth at least,

48:34

in the very least, I think people should invest

48:37

in what they understand. I think

48:39

that they need to understand what

48:41

is Ethereum, what is Bitcoin,

48:44

what is blockchain technology. Spend a couple hours

48:46

of research over a weekend or over the

48:48

course of a month learning about this stuff

48:50

and the potential impacts that it could have

48:53

and come to your own conclusions. But the hard

48:55

thing is, is that a lot of people will

48:57

be so biased that they can't go in and

49:00

fairly learn about it because the whole

49:02

time they're just angry. And they're typically

49:04

not angry that Bitcoin is doing

49:06

well or anything like that. They're angry that they missed

49:08

the boat. And so,

49:11

yeah, I mean, what a time to be

49:13

alive. Yeah, I mean, they're

49:15

just waiting for their financial advisor

49:17

from BlackRock to sit them down and tell them

49:19

that it's okay. And if you just took

49:22

the time to just do a little bit of

49:24

research, I know it's busy, lives are hectic, and

49:27

you just wanna go with the narrative of the last thing

49:29

that you heard and you get angry because you missed the

49:31

boat and you like watching people fail when this thing went

49:33

from all-time highs down to the 15K mark. But

49:36

like you just said, do the research.

49:39

And we're here to help you. We're here twice

49:41

a week with awesome interviews inside the space with

49:44

some of the best, most smartest people in the

49:46

crypto and Bitcoin space. And then we're

49:48

here every Thursday with Brendan, Bryce, myself,

49:50

trying to give you guys the full

49:53

picture, everything from Brendan and Bryce's expertise

49:55

to my expertise of seeing what's on the

49:57

internet, seeing what's trending. You have

49:59

all. of this free stuff to just dive

50:01

in and educate. And obviously anybody that's listening

50:03

to us now on the podcast network is

50:06

a faithful listener and is educated, but we're

50:08

cutting clips and we're sending this stuff out.

50:10

So come on in, come listen, it's crypto

50:12

101 and it's tons of fun

50:14

when in a bull market. So make sure you

50:16

come back. Yeah, I couldn't agree more, Tevo. Man,

50:18

it's been a great week. We appreciate everyone tuning

50:20

in. As the crypto markets continue

50:23

to soar, expect that we are gonna keep

50:25

all of you updated. So until

50:27

next week, everyone, we will see all of you

50:29

very, very soon. Jake

50:43

Knapp is the inventor of the design sprint and

50:45

the New York Times bestselling author of the

50:47

book, Sprint. He's also the co-founder of

50:50

Character, a venture fund for early stage

50:52

startups. How and why did you

50:54

start using Nero? I came from

50:56

this position of thinking, I don't wanna be

50:58

doing stuff online to thinking now when I

51:00

do a sprint in person with a company,

51:03

it's like, we're gonna use Miro even though

51:05

we're all in the same room because that's

51:07

a better way for us to get this

51:09

work done. As an investor, we're basically investing

51:11

in their ability to solve problems. We're saying,

51:13

we think this group of people is gonna

51:15

be able to solve a problem in a

51:18

really great way and create value by doing

51:20

it. And actually you need to give people

51:22

the tools that can help them make decisions,

51:24

help them collaborate, help them visualize and see

51:26

things in a different way. And

51:28

Miro does all those things. So to me,

51:30

at least as an investor, I'm thinking, give

51:32

the team the tools that are gonna help

51:35

them think, that are gonna make the most,

51:37

brighten their skills as smart folks. And Miro

51:39

is at the top of that list. The

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