Rollup: bitcoin ETF inflows, ETH ETF chances, EIP-4844 live and EigenLayer mainnet

Transcript

everyone is talking about blobs and dog with hat just imagine hey Mom yeah I'm super busy because blobs just got introduced to ethereum so I can finally make cheap transactions and AWI hat is going parabolic so I got to decide if I should reallocate some Capital like what the f well your mom might not know but we do cuz we're your crypto homies and every Friday we're here to help you separate the signal from the noise will dog with hat be the best performing cryptocurrency in this cycle go I don't know you're going to have to listen to find out gmgm welcome to web3 Academy your one trusted source to capitalize on the next big phase of the internet I'm jbird joined by my co-host Kyle rehead and we

believe that blobs are going to change the world you're going to hear the word blobs a lot in this episode which is quite odd but for whatever reason is extremely important in today's episode and and actually in just the blockchain world in general so we're going to explain what blobs are and what's happening because it is now live on but there's a bunch of things happening on ethereum so the start of the show anyway after the market watch of course it's going to be a lot about all the things happening on ethereum igen layer is going mainnet ethery has some big announcements they're launching something really cool of course we're going to touch on mecoin media once again as Jay has mentioned some unlocks we'll talk about a big unlock happening in the L2 world and then we'll sort of just dive into what unlocks mean token

unlocks that is for crypto and just something you can be aware of as you're investing throughout the cycle and then a bunch more telegram is going to IPO but they also have a blockchain and a token so like how's that going to work and Gary ve maybe is going to bring the next big nft project following the footsteps of pudgy Penguins we'll talk all about that and so much more here in today's episode before we jump in as always we have a poll question every week this week's poll question is we want to know if you've noticed the impact of blobs if you don't know what blobs are you're gonna have to keep listening to find out but have you seen a drop in fees on your L2 transactions we want to know how you are feeling

about that so answer the poll question on Spotify or in YouTube comments wherever you are listening at the same time you want to give us a like or a follow or a review we would greatly appreciate that helps us get more people into the space let's go into the market watch Kai first up what's going on with Bitcoin this week yeah Bitcoin is finally it was battling its alltime highs for a while every time it would hit it it would just get tanked I mean tanked and then would come back with an hour so it's not that big of a deal but finally we are now sitting above those previous all-time highs we are currently at 71,000 down 3.4% of the day but up 6.8% on the week I was just looking at the six months here we're up a 165% on the week J so or sorry on the six months

so it's kind of it's a good time to be in crypto that's for sure wow all right let's shift over to eth what's going on with eth yeah eth uh has been above 4K for a little bit here but we're currently down 4.3% on the day up just. 3% on the week Ethan has been lagging a little bit which is weird because it just had a mega upgrade which we'll talk about and a bunch of good things happening fundamentally to ethereum uh but for whatever reason salana which we'll move on to next has had an absolute Beast of a couple days since e has launched its blobs or EIP 4844 Sona took the show and it is now up 1.49% of the day but up 27% on the week currently sitting at 166 dollars big things happening salana

although nothing new nothing's launched on salana it's all on ethereum but this is what happens I mean Bitcoin has its big moments ETF launches and eth goes up eth has its big moment and salana goes up who knows what's going on in these markets it's a little bit wild but overall everything is up and to the right if we look at the total crypto market cap we're currently sitting $2.6 trillion do we are down2 2.78% on the day but up 7.26 on the week I wonder what percent of that is dog with hat Jay must be really moving the total crypto market cap for us because that is the Juggernaut of cycle so far we're up like a billion on Dog With Hat on leek so absolute crazy this all right so when we step back Kai looking at the markets

through the past week what's standing out to you well no surprise the same things that happened every single week we're going to talk about ETF inflows once again and then we're going to talk about Michael sailor once again ETF inflows have have surpassed a new all-time high reaching over a massive mass amount here reaching over a billion dollars in one day between all the ETFs that is massive and uh coming off the back of just the day before that was also a new record so we're continuing to just see crazy adoption through these ETFs and more and more Banks and more and more funds are incorporating these ETFs into it so we've just blown away expectations early on for ETFs the amounts we're getting right now were the

expectations for the entire year so by the end of 2024 and we've surpassed it in like I don't know what are we about we're basically two months now it got approved on January 14th I think 14th or 15th so um we are literally two months uh past and we are already passing all the expectations we had so it's absolutely crazy and at this rate the ETFs are buying 13,700 Bitcoin every single day at the current price is there going to be any Bitcoin left there is not going to be any Bitcoin left tell you that fre I mean this is something we've been saying for a long time I'll tell you why there's not going to be a Bitcoin left it's not just the ETFs remember last week Jay when I told you that microor raised $800 million so he can buy

Bitcoin with it so it's been a week and guess who is raising money at the tone of $500 million to buy more Bitcoin you know who that is oh my Michael sailor Michael sailor literally less than a week after raising 800 million he's raising another 500 million Jes nuts so the amount of Bitcoin that this guy's buying is like it's not as much as ETFs dtfs are bigger than Michael sailor but Michael saor is one person one company fighting 10 massive ETFs some of the biggest financial institutions in the world so yeah you're right there's going to literally be no Bitcoin left now another news and quite interesting so the way that uh sailor does this by the way is he does a private offering of convertible senior notes on the shares

of micr strategy I'm not going to get into what that means but look who else is doing a private offer of convertible senior notes of their shares coinbase for $1 billion what do you think they're going to do with it are they going to take a little piece of Michael sailor this is pure speculation I have no idea maybe they want to I don't know hire a budget do some more things I'm not sure but coinbase raising a billion dollars right now is quite interesting I would assume coinbase would not have done this at alltime highs maybe they would have done it in the bare Market if they were to do this but I guess they needed their stock to come back which like it took you know just the last two months it's gone from I don't know basically like in the 40s 50s to I think it's like 260

bucks today so now there when they can do this so again I don't know if coinbase is going to buy Bitcoin with their um the notes that they're converting here but we'll see bit of speculation it'd be pretty cool if they did because then we'd have two companies doing this I'm still surprised it's only Michael saor doing this we'll talk more about that later in the show but pretty wild to see this and then the biggest news of them all screw the ETFs screw Michael saor screw coinbase you know who tweeted about Bitcoin Jay just like two days actually not a tweet this is on Instagram so this is going to the retail people poy our boy Drake J Canadian Drake actually he re-shared or whatever you call it on Instagram the story of Michael sailor talking about Bitcoin on Bloomberg or whatever whatever show it

was on which is the one where Michael sailor like explains everything he's doing and how he's buying all this Bitcoin by selling his shares like pretty complicated stuff but like he's so confident in it he gives a great explanation of like why Bitcoin is so important at least on the corporate level and yeah champagne poppy shared it I have no idea why but he's got like 146 million Instagram followers so I think we're starting to get back into the euphoric stage of this bull market because retail is definitely hearing about crypto at the moment so thanks Drake we appreciate it we move off Bitcoin for a second but that's what's going on in the Bitcoin World lots of good then we have the ethereum world lots of good on the fundamental side in terms of the tech and the improvements which we'll get to but on the demand

side on the side of ETFs which we've talked about a are supposed to go live in May maybe not the greatest news coming out so Eric boludas who's the guy that is the ETF genius who walked us through everything going on with the Bitcoin ETFs over the last year he's now moving on to helping us and guiding us through the eth ETF situation and this deadline is coming in May he's currently giving it a 35% chance that it gets approved in may now he's saying to make players yeah 35% he's like look it's not zero it's 35 so like there's still potential and if it doesn't happen in May it doesn't mean it won't happen this year there's still other opportunities it's just this is the time where like they could do the same thing you did with Bitcoin ETFs of approving everyone

all at once they have to make a decision on May 23rd and their reasoning is pretty easy or pretty clear I guess it's that last time with the Bitcoin ETFs there was a lot of talk in back and forth with the SEC in terms of the SEC and like black rock and a bunch of the others of fixing up their applications changing things to make this all work and there has been nothing so far and we are what 2 months away from the potential approval so it's just been dead silence in SEC which is this is what they used to do every time they declined Bitcoin ETFs in the past and now they're doing with this with the eth one so this is his main reasoning of doesn't feel like they're willing to put this one through all the reasons are there that it should the court case that

you know happened before that really enabled grayscale to pull this thing through should apply to the eth one we have eth Futures already approved so like all the things are in place but again that Bitcoin etf1 had to get a vote from the five people at the SEC for whatever reason and we only won three to two I think the same situation is going to happen here with eth but with the Dead Silence it just doesn't bring as much confidence so we'll see there's a chance that like maybe they don't need to do as much back and forth because they already have it figured out on the Bitcoin side of things so that could be that's one Theory the other is just like maybe the conversations go parabolic over the next two months or like in the last month to figure it all out they do

it sort of last minute because I don't know maybe they're working on something else right now that could be the case right now it's all speculation but we're looking at 35% if you look at the public markets for the predictions markets it's giving us 31% on the E ETF being improved by May 31st so not looking great per se but um is what it is we'll see what happens I'm still hopeful that it will happen it's coming it just doesn't we just don't know when really is what it comes down to it's definitely coming and then we had some inflation news come out in the US which obviously this is something we continue to follow because we want interest rates to go low part because Jay and I both hold a mortgage and it would be great if those interest rates gone down but second

because it also means our bags will fly up because when interest rates go down it means good things for risk assets well we didn't get that quite on this um previous uh CPI number release we were actually up on CPI we went from 3.1% to 3.2% in February so not up a lot it's 0.1% but we're hoping for it to go down but if you can see I have a a chart here up on the screen it's really just sort of like going up and down a small amount over the last couple months so we're kind of just staying relatively the same when you look at it over a few months time so not a massive deal the one thing we can look at is core CPI continues to go down though each and every month so we went down to uh 3.8% it was expected

we would go down to 3.7 so it wasn't as good as what the experts and the analysts said um but they never really get it right so who really cares key is it continues to go down and for me I'm completely okay with that if we look at the Expectations by the market for when the FED is going to lower interest rates the expectation right now is in June we have still a pretty high percentage I don't know if I have that tweet up no I don't have it but I think the market is somewhere around like think is around 60 to 80% I don't have the exact number up right now that people think that the cut will happen in June and there will still be four interest rate cuts by the end of the year they're just going to be small so people are expecting like 0.25% cut

kind of thing but here's the market expectations on this chart here over the next basically two years until March 2026 and basically it's just down down down down down starting in June all the way until March 26 at 3.4% I don't see it playing out this way but if it does this is also great we were expecting and I still kind of do expect this for it to be bigger drops down so instead of 0.25 maybe they have to do some more like immediate drops because I don't know Banks continue to fail but we'll see if they do that if they continue to hold this out I still think that happens but the market has a a little less what you want to call bullish doish whatever you want to call it outlook on this will be sort of slow and gradual which honestly not a bad thing we've kind of gone

parabolic in most risk assets right now and a lot of people are worried about like a a cycle that's going to be too fast an accelerated cycle and so a slower decline in the interest rates would actually be kind of good it might slow us down a little bit but allow us to just keep grinding upwards long term so either way I wouldn't be against that but either way I think rates are still contining to go down all that matters the rate of change even this chart is super bullish to me because we're at the peak we're not going up that's for sure we're going down whether it's fast or slow honestly doesn't really matter to me it's all good news overall so that's kind of where we're at that's about all the news we have in terms of market watch Jay any questions any final

thoughts concerns it's it's just so wild to me that the macro situation is what it is while the markets are ripping the way they are you know we would have all expected that we would hit all-time highs by that point we would have had at least one interest rate cut probably a few would have happened before we would think we would get to all-time Highs but we've hit all-time highs before we even have the macro really catch up here so I don't know like it's kind of it makes me bullish in many ways because it's like oh the macro is coming and is going to be very favorable for the rest of the year it looks like based upon everything you're saying but it also makes me it gets into that conversation and that

question around like when and where does this cycle end and is it going to be accelerated it feels unpredictable right now yeah I mean historically we're ahead like you said but I think it's it's either the market is starting to figure it out right that oh we're going to have these cycles and so I think especially in crypto I think people have figured that out so it's like okay well let's get in ah of time and so I think that's probably a big part of it but I mean ultimately who really knows but yeah let's see where where things go but I think it's just the market kind of understands what's happening and they kind of just know like they have to lower right and so it doesn't matter if it's a steep one if it's a you know kind of a calm lowering over time like

regardless they have to lower and so people are going to put their money in Ahad a time so it makes sense and it's all favorable for us in the long run here because I think it'll all lead to more liquidity coming into the space so all good let's jump to really what should be the biggest story of the week that everybody should be talking about it's not necessarily the biggest story of the week because dog with hat and many other crazy things you crypto seem to steal the uh Spotlight but let's talk about EIP 484 AKA blobs which were just introduced this week with the denin upgrade on ethereum Kai tell us what this is and why this matters yeah so

blobs are basically a there there's different parts of fees for that layer tw's pay to ethereum uh part of that is settlement fees execution and the biggest part is data availability it's something like 70 or 75% % of all the fees that that we pay is what l2s have to pay over to the E theorem L1 it is the reason why fees on l2s are as high as they are currently or previous to this upgrade you know sitting anywhere from like 10 cents 20 30 40 cents I mean some are even at like $2 I think Stark net was up at like $2 just the other day and so a lot of this is because of this data availability this is where like Celestia Ian da is coming in to sort of like help with this and compete in that space what ethereum's doing to try to

keep these l2s to remain on ethereum and use its data availability is launching what's called blobs this is the big upgrade basically it's about 10x cheaper to post your data on ethereum than it was just yesterday before this one live so pretty big deal now we have a tweet up here of Jesse poock who's part of Bas he's one of the guys that that launched base at coinbase and previous to launching EIP 4844 to transact on base it was 31 cents okay so not great salana is like I don't know 0.1 cents kind of thing after they upgraded uh along with the EIP 4844 it was 0 cents if you looked at the wallet so you looked at coinbase wallet L said 0.0 now wasn't actually free it's 0.005 so fractions of a penny it's just

the wallets the ethereum based wallets are evm wallets have not updated their ux yet to show how cheap these fees are so we've never had fees this cheap and so they never even showed that those that many decimal points and so the wallets need to actually upgrade to fix this so it's made a massive reduction in the fees of l2s not all layer tws have switched yet so the l2s themselves have actually upgrade their Tech to now use blobs instead of the previous version and so you can see we have a a tweet up here of the crypto fees website you can see optimism is below a penny ZK sync is 4 cents Stark net is seven cents and that's called and then we just someone put a word just says blobs and then the line underneath that is everything that's not upgraded yet to blobs which

like arbitrum is like 34 cents polygon ckvm is 40 cents and so on and so forth now most of them have upgraded by the time you guys listen to this on Friday probably every L2 will have upgraded you can see on this list here that we have of Dune arbitrum now done it Zora mode Bas zky Stark net optimism so basically all the big ones have now done it it would be crazy not to do it at this point so what's interesting is you can go to fees. grow theie well you can see it on on screen right now and uh the moment that this went live yesterday you can see first it was Stark net who upgraded right off the B and just it went from literally a buck 50 down to like 001 Cent like cheaper than salana so that was huge and then optimism

follow you can see the same thing arbitrum took a little while here you can see them all now their fees are just so so so cheap so this is a massive upgrade to ethereum I think it's going to unlock a lot of new applications and a lot of new use cases on top of l2s and it's going to create some serious competition with Al l1s their whole thing is that they're cheaper and now we have the same if not better on top of layer 2os so and actually borovic doeth he tweeted said eth L2 base transaction cost is 0.0018 cents salana transaction cost is 036 cents so it's actually cheaper to transact on an L2 now you're going to see a lot of these bullish tweets right now this is not super true it is true in this moment but this

happened when there was only like two l2s using this blob space so there was basically no demand so it's of course it's very cheap it's like you launch a new block space and no one's using it it's not going to cost anything to transact so what happened here is as all these l2s upgrade and move over and new l2s come online this cost will go up so we haven't actually solved scalability we are not getting 0.00001 fees like it's showing this isn't a reality by the end of this week next week we will be back up to probably in the pennies again which is great you know way better than we were but not actually competing with salana by any means so keep that in mind but then also the flip side of that because you're seeing a lot of people kind of tweeting that out being like hey I know this and

you don't know this but then there's the other flip side of it is like look this is just one upgrade there are more upgrades coming to EIP 444 there's supposed to be I think another two or three or sorry three or four more which will basically do a 3X on each upgrade on these fees so we're going to get to below a penny by the time all this is done in the next one to two years and especially with something like ethereum or Igan da if if people start to use that then that's going to take things even cheaper so it's a first step it's not over yet but ultimately transactions are essentially going to Zero by the time this is all done so big moves right now and in fact third web announced that along with optimism they are doing a $3 million fund for specific applications

and developers on optimism that are going to pay and cover for users fees that use that app and for the devs fees to launch the app I think this is something we're going to see more frequently so basically on optimism on certain apps not all of them but you're going to be able to use that app without even needing eth in your wallet like you don't need to pay any gas fee and that's where I think you have that zero to like 100 moment right like salana is great it's cheaper but if you want to use a new app and you're new to crypto you still need to get salana even though it's 0.1 salana like it's a penny or half a penny or whatever you still need to like sign up to centralized exchange or Bridge from your PayPal over and like get that Soul onto your wallet and so

like there's still that friction regardless of the cost you know and the moment we can make it free where that friction completely goes away and you actually don't even need to do that kind of like what a mutable is already doing as the layer two on ethereum that's where you have that massive change in the ux and so I think free and this was one of my predictions anyway was that free l2s free transactions on l2s is going to be the new meta we're starting to see the first sort of like hint at this I got a feeling you'll see arbitrum and other base whatever others come out and compete with this bigger funds maybe they'll make it L2 wide I'm not sure we'll see but I think this is going to be the new competition is making fees free for all users especially since this

is the expectation that every single user in the world will have that's not the one million people that are currently hanging out in crypto and listening to this podcast you don't go online to the internet and use an app and expect to pay a fee which is called gas that you don't even understand what the [ __ ] gas is and that to be part of your user experience so that absolutely must be removed and I think you na that Kai we're going to see a competition amongst the l2s for who can be the first to make this part of their ecosystem immutable has already done that which is why they're winning so much in gaming and the rest of the chains I think are

going to follow up here I mean optimism is saying they're committing to do it for $3 million they're not committing to do for everybody but obviously if this works they're going to commit to do it for probably the bigger piece of the pie yeah I think what happens here is like if you think for for those of you listening to the podcast right now you're probably listening on Spotify or apple podcast or YouTube whatever if you are by the way like share do all that things thanks but anyway for you to share or to like or to listen click play you didn't have to pay a fee right but in the background there are hosting costs to do that like for you to stream this podcast there is a cost it's just the user doesn't pay it Spotify pays probably millions of in hosting and streaming fees and

electricity bills and all the things they need for their servers to allow you to listen to this podcast right now we just because we're so early we're like hey you guys are going to pay for it all the users but what's going to happen is apps will just cover this just like they cover the hosting fees of their site and of their streaming it's just it's been too expensive that no app could do it right now it wouldn't work right and now it's cheaper and so maybe we'll start to see apps doing this as we continue to get those upgrades I talked about this will be the norm and eventually I would say in two years from now every L2 will be completely free for all users and all apps or the l2s themselves will just cover this in some some manner just like every business covers hosting fees for

every website um so fees they're about to be abstracted away in the very near term and so this also like for all l1s and stuff doesn't bode well for them and so I think this is when we start to see consolidation of mainly ethereum and l2s because l2s are the ones that can really make this work and then I'm not sure how Sal will do this there is an L2 that just launched on Sal we'll talk about later so maybe they'll do it that way but it's going to be all free eventually all right let's keep rolling along with the ethereum news a couple other big announcements uh this week first up Igan Lair main net is just a few weeks away yeah so they just announced this morning actually before we started recording that they have a plan to now go right now aen layer is which is the reaking

protocol is in beta crazy that they're in beta they have what1 billion in TV something like that in beta which is a bit aggressive but anyway and so that's why they have capped deposits so you can't put more deposits in currently as they're in beta they have a roll out plan now that in the next couple weeks a ler will go mayet and launch and they will remove their caps which is massive we'll see how much demand and flows that Igan ler can get here I think it's going to be a lot they've got a bit of a plan it's going to take a bit they're going to launch on a test net first they've got a few other things they're going to launch Igan da which is really cool so basically some some early apps for the the aigen layer protocol and then within

the next few weeks so let's say by the end of April at least main net should be live I would assume the token then is soon to follow afterwards I'm not sure how long after they haven't mentioned that but I know it is an integral part of what they want to do so it should I would assume it's coming this year but huge to see main net launch because we really want to re re drisk The reaking Narrative and by going main net taking off the like training wheels I think this is really going to help so this is a really big deal for for ethereum L let's go to another announcement out of the ethereum ecosystem ethery what's their big announcement this week Kai yeah so ether fi their points program is ending today actually as we record it should be in a couple hours so

fortunately we can't tell you the news on that but yesterday they did say they have a big announcement on their plans so ether 5 if you guys aren't aware is the reaking liquidity token right so basically you can put your eth into igen layer and they'll give you e e back and you can right now we've been talking about it so you can Farm points for ethery you can Farm points for aan ler Etc so it's basically the Lio but for reaking and what's really cool is they said hey we're not actually just going to do staking we have a bigger plan here and this is what they've just announced so they're actually launching three protocols over the next 12 months the first one is reaking they already have this and this was done really really well they've brought in billions of dollars and they're really the at the

Forefront of the restating tokens so that's really cool the next thing and by the way that token The Ether 5 token whatever that's called is coming very soon as well the next thing they're launching is called liquid and this is basically vaults where you can put your eth your e e or your wrapped e e I know it's a bit ridiculous but you can put into these vaults and they will generate yield for you using D5 protocols with different risk management so instead of you going using def5 protocols you can just throw your tokens into that and they'll do it for you so you'll get your restake yield and then they'll get additional yield on top of that by using compound and you know curve and all these different ones so that's really really cool just to get extra passive income and that's coming on the 18th of

March the third thing they're launching is called Cash and this is the real cool part of this so you now can restake your eth you can put it in these like vaults and they'll generate more yield from it and now they have cash which is connecting these vaults and this any of these Assets in your e etherified balance to a credit card and basically what happens is you can fund this credit card with any balance that's in your ethery account and you can pay with things in the real world and so it's all going to be done self- custodial so it's not like you got to move it to an exchange or something and so now you have this like sort of way that you can buy this asset you can earn passive income on it at a risk-managed way and a lot of is coming from real yield from

staking and reaking and then you can use it to just buy things and so if you have enough in there that you're generating you know $1,000 in yield a month or something you could buy your groceries or your rent or whatever just using the yield from ethereum all from that credit card and so you never actually have to touch Fiat at that point so this is really cool and this is going to be launched within 12 months now they're not exactly sure how they're going to make it work it's still very early stage they said but they've talked about having an L2 for this so their own L2 to make all this work but it looks to be very promising super cool idea and um I think we'll get a bunch of more of these sort of like defi based ecosystems that connect our blockchain assets to the

real world so that we can actually use them and pay with things instead of just I mean I still probably won't you know they still spend my Fiat as Michael sailor was going to tell us in a second but it's really cool that it is possible because there are a lot of people that especially after the cycle will have like 99% of their net worth in crypto and they need a way to to use it well and we don't even have this story in here but another thing that happened this week is Mastercard and metamask announced a partnership that they're working on a payments card where you could use a Master Card that is directly connected to your metamask wallet and spend directly from there so we're seeing and last week we talked about fintech you know it all that comes up for me is at the beginning of the

episode you said more Banks might fail and you were just throwing that comment out but like look at this like Banks good luck if you're the head of a bank right now you're working in a bank tune up your resume and start trying to get a job in crypto okay because you guys are absolutely screwed when all of this goes and is built out in this way that is much more usable for just day-to-day transactions we haven't even gotten to that moment yet it's so easy Once you figure this out it's so easy to understand how this is a 100x better Financial system than the one we currently use right instead of an inflationary asset that's controlled by this one old man who sits on the FED board uh and tells us how you know how much he's going to inflate that or how

much he's going to charge us to take out loans against that instead of that you can use this other currency oh and also there's going to be costs if you want to change to another currency if you want to move it across a border some people aren't even able to get it right it's like it's so ridiculous and then you have this other currency that's just deflationary it also has just a passive yield that comes from it just because people use it right it's borderless it's permissionless and then not only that but you know people are now finding ways to like pay their employees and like we pay our employees on the blockchain because it's just way easier because you have employees all around the world and so more and more people are taking this better asset this better currency they're actually finding ways to move it

around the world faster frictionless which is great the problem is it's stuck there not it's not fully stuck like you can get it out through an exchange but there's fees there's time delays all the stuff it's more like the trafi stuff right where it's like you want to send money from Canada to Europe and it's going to take like four days and you're like what I could take a plane with a freaking luggage of cash and I could get there faster why does my digital money take that long to get you know across the seas and so it's so obvious that this is a better Financial system we just need to connect it to the real world I just need to be able to use it and I think that's what we're seeing a lot of innovation on with ethery as you just said with MasterCard and metamask

and so that's the next big unlock for a lot of people I think I think that it just makes me think that Jack my son who's eight months old I think he's gonna 20 years from now he's going to be like you used Banks what's up I wonder if he'll ever use paper money he'll probably never use paper money because by the time he's worried about money was like 10 years from now at least yeah oh yeah I mean like I don't know when you get a bank I don't know when you start teaching your kid about money I don't know man let's I'm trying to get him toep you're the dad you tell me now I don't know I I'm trying to survive day by day bro I'm not thinking but anything when he's 10 years old you know what yesterday not only will never a handful of Ash out of the

uh out of our fireplace yesterday like come on these are the problems I'm dealing with hardcore you know what he won't even it's not that he just won't touch paper money he probably won't ever touch money because he'll get his AI to do all the things with his money for him right that's what he's going to be doing 10 years from now which is wild anyway we're going maybe he'll be paying maybe he'll be buying his groceries with dog whff hat because uh like everybody else right now mcoin Mania is going absolutely insane we talked about this last week we can't avoid it we're talking about it every week now look dog with hat launched three months ago it is up 200,000 per since it's launched three

months ago in the last two weeks it's up 300% in the last month it's up 750. it now has a market cap of $3.2 billion it is top 50 of all cryptocurrencies ahead of it passed arbitrum this week it ped Celestia this week these are real products real blockchains that have a real value that they are contributing to this ecosystem and at the same time we have this mcoin dog with hat that is just going nuts so everyone's wondering what the heck is going on I want to play a clip here to give you an idea of we're not the only ones that are wondering what's going on slow so is Bloomberg TV what's been so

interesting of course is the Bitcoin exuberance yes it's solidified it in terms of the dominant player but still all boats seem to have lifted to a certain degree I mean we're starting to talk about meme coins and some of them affiliated with politics others I mean dunk with hat for whatever reason just catching the meme sight Geist how are you seeing real desire to be going outside Bitcoin and all right so as the Bloomberg analyst said the question on every mind everyone's mind is everyone all the Norm's mind is what is the reason that dog with hat is gone up 200,000 per in three months well I'll tell you it's simple he's wearing a hat and the hat is always on it stays on

doesn't matter what this dog does this dog goes for a run that hat is on it is reliable token go up to the moon no seriously look meme coins they don't make any sense but they are a big part of Internet culture memes are a massive part of Internet culture and right now early in Cycles as happens every cycle meme coins are usually the ones that catch an early pump and Cycles when this happens it's not about fundamentals it's about pumpamentals and look dog withad has captured the entire world by storm that imagine telling that Bloomberg analyst that the reason is because

literally just because it's wearing a hat what do you here's some P Metals behind this so this week a crypto Twitter influencer anom started a fund raise to raise $650,000 to buy the space advertising space on the Vegas Sphere for one week they raised this in five days in five days they raised $650,000 this is the power of meme coins and of Internet strangers and internet culture couldn't do this in the regular world like to raise 650 th000 from a from millions of random people would not happen this easily so there you go so now we're going to see the dog with hat I don't know when they're going to be on the sphere but

you're going to see the dog with hat on the sphere in Vegas you can bet that's going to bring a ton of marketing to dog with hat people are going to be posting photos of it people are going to be seeing it and look that's what makes this stuff go more people see dog with hat more people talk about it Bloomberg talks about it and the token continues to go up look I think the main question here is everybody gets a lot of fomo during moments like this Kai are you going to redistribute Capital to dog with hat am i g to Red absolutely not who knows to all the people that did but like n now that's for sure if you got an early great that's cool but these are your I mean I'm not even gonna say top signal so I don't care but it probably

continues to do well I just I don't care I'm just different than some others but I I hold when which is a cat and I hate cats but I continue to hold have a hat whatever no Hat the cat does not have a hat unfortunately oh what about these ones though what are these These are hilarious okay so then there's this whole other sort of New Meme coin Trend that's happening right now over on salana there's been a whole bunch of new meme coins that have dropped that the art looks like it's drawn on like Microsoft Paint from like 1995 and they all are based upon a lot of famous politicians or famous artists but like with misspelling their name so

we got Barack obum we got droke instead of Drake we got donold Trump instead of Donald Trump we got Gio Bowden we got Olen MOS and if you can see if you guys are watching us on YouTube you can see a bunch of these images we also had uh toor SW for Taylor Swift and look these mcoins are are taking the internet the crypto Twitter by storm like everybody is now jumping in on these meme coins and look it's easy to sit on the outside and say this stuff looks stupid but again meme memes like this represent culture and culture is a big part of the internet and the way that we are using

crypto is all about connecting a lot of people in a digital way that we could not connect them before to create Capital formation and so people are jumping behind me it's expressing culture in financial terms which is something we've never been able to do I saw a good take day and was like look it's pretty clear that anything that gets some sort of cultural relevance is going to be tokenized and whether it's tokenized in like a fundamental way or it's just like obviously tokenizing Donald Trump or whatever like there's no it's not connected to Donald Trump but it is sort of right it's connected to the culture side of it and so like I guarantee you during this presidential election as Donald Trump outperforms Joe Biden or vice versa the tokens will outperform right it's going to be like

almost like this predictions Market that's liquid like it's very weird weird and it's something completely new but I'm here for it I think it's only going to continue to get weirder and so you need to just sit here and pay attention try to figure what the heck's going on because something brand new to the world is coming from this I don't know what it is but it's something's happening here and it's it's around tokenizing culture it's funny we we always talked about that a couple years ago on like social tokens I guess this is the social token just in a very weird form yeah we always thought the social tokens would take the form of existing communities built using a token to connect their Community for governance or for a form of capital formation so you could imagine like a our favorite football team doing that or

our favorite basketball team doing that but that hasn't really taken off but these have not to be outdone uh Elon Musk had to get in on the party this week and he live on stage at a Tesla event said that Tesla will enable Doge payments at some point Dogecoin to the moon so obviously Elon B Elon couldn't help himself and I mean look Elon gets that blockchain is better for payment rails so all respect to him for that but at the same time like man stop pumping Dogecoin your impact your influence is too large for you to say things like that have a little bit more responsibility last that before before we jump off meme coins there was a great

take from Kobe that I just want to read and then Kai would love to hear your thoughts so Kobe crypto Twitter influencer if you don't know go ahead and follow him he's great he says one thing that I will add is that mem coin seem to be one of the last remaining opportunities in crypto for a normal person to go from zero to respectable money in a short period of time and this is the sole reason I don't feel Ivory Tower or judgy about it it seems like exactly what I would be doing right now if I were starting out for me we had Fair access to bitcoin and ethereum Etc now those type of opportunities are privatized and competitive but I also recognize that it's quite sad that that is the case and hope it doesn't stay that way we'll see what I can do so I

wouldn't say it's sad like it's not like 200,000 x is like supposed to happen all the time for everyone like you were early to bitcoin ethereum a whole new industry in asset class that's great doesn't mean we need to have that happening every day like all the time so like I don't know about that but I do agree it's almost impossible to get those kind of returns in like a normal project now if you launch a decks you're not going to get 200,000 per gains in it because there are already existing decks with tokens that you can value and compare on right so like it's harder for these things to get way overvalued and just like out of control valuations because every other project that exists that's not completely net new has some sort of fundamental weight to Value you launch a new blockchain well you can

compare it to all the other ones right and so it doesn't get so crazy out of control whereas memec coin has no fundamentals and nothing really to compare to other than other mem coins but like how do you value that right and so these things can just like if they catch it and the meme lives on as we just saw with with h it can do it right it can still do these things and so and I think those opportunities will continue doesn't mean like hey if you're if you're late to the party and you've got just a little bit of money doesn't mean you should go all in on that because then you're just going to miss like the chance of you getting that is very slim and so like then you're just going to miss the bull market in general which is ridiculous because you could

still easily 5x right now um doing the most basic thing and so like to not take that opportunity is pretty crazy in my mind but definitely if you like if you're so late to this and you you want to swing for the venes then it it definitely doesn't hurt to put a certain percentage of your portfolio in these things and just like hope something goes but don't go I think you you make a great Point around expectations right the danger here is it all and I feel like I I broke a record saying this but like if you're sitting there and you're expecting 10x in a few months reframe your expectations because that is the type of expectation that will lead you to lose most of your money look maybe you got lucky and you pick dog with hat

maybe you picked one of the other hundreds of meme coins that have launched in the last six months that are now [ __ ] worth the zero so you know know that there's a massive risk in this and maybe it's because I'm I'm a dad now but play the safe threat would be my view anyways let's go on to the next story we got some unlocks coming up in the next week token unlocks are an important thing to look at that I think not enough people in space spend time looking at this I've got arbitrum up on the screen here and they have a coconut unlock coming up in the next it's actually in two days so be one day from when you guys are listening to this there will be 1.1 billion ARB tokens unlocked in two days Kai yeah almost

it's almost dou doubling its current circulating Supply and for those that don't understand token unlocks this is basically before they launch a token there are a bunch of investors and the team that get an allocation to the tokens but they're not allowed to get their tokens as soon as it launches to the public right that wouldn't be fair because they hold such a massive percentage of the total tokens so they could just crash the the price and so what they do to make it more fair is they launched the community and then at some point there's sort of a cliff where all of a sudden okay now we're going to distribute a bunch of tokens to the team to those previous investors and then it like slowly unlocks over time after that the way the arbitrum was set up though is starting on the 16th there's just a

massive Cliff so it's not just a little one it's literally almost doubling the entire supply to the team and to the investors and so the scary part here is these people have invested in this you know years ago and they're finally getting access to their liquidity what do you think they're going to do right like arbitrum is up under deck or whatever it is since whenever they invested in so many of them are likely going to take profits doesn't mean they all will some will continue to hold they want governance they want to use I don't know maybe AR's going to have some staking in the future like I don't think it's just all going to sell not going to dump half the supply obviously I think these people invest in this they still believe in it we're early in the bull market so there's still ways to go but

in a bare Market this would completely tank the price by 20 30 40% I don't think that happens here we've had a lot of people in our Discord asking about this if you have doubled the supply come on the market in one day like what do you think's going to happen you need a lot of demand to sort of keep that price at Bay right because you can expect a certain percent of these people are going to sell how many obviously we don't know my my assumption here is that I think there's probably enough demand especially because e 4844 just went live so there's sort of a narrative in L2 tokens right now and so I think that the market will likely absorb a lot of this and if arbitrum dips I think it's shortlived I don't think it has this big like 40% dip and drains out whatever

unless the market has a pullback right now or in the next coming days then maybe it goes back further than others but we'll see if that happens but also if we continue on the path we're on I don't think it actually has a massive dip but we'll see what happens what's interesting is the market cap of arbitrum is like three billion right now literally in one day it's going to go up to almost 6 billion as long as like the price stays the same it just immediately changes six billion what's kind of an interesting Dynamic to that is arbitrum and optimism the two biggest l2s have kind of stayed similar market caps all the time as one gets sort of like overvalued versus the other that one sort of catches up and so I do wonder if the opposite happens here and like arbitrum all of a sudden has a $6

billion market cap and then a bunch of the retail who's coming into the space for now looks and goes and they don't know about token unlocks they don't know about fully diluted valuations where that's not changing here it's just the market cap and so they look and they go oh optimism looks very undervalued in terms of mar cap bur arbitrum right and so all a sudden they start bidding up op I could see that happening I actually thought about putting on a long on op two days ago before bip 48844 um because of these two combination so anyway don't know exactly what's going to happen that's just something I've been sort of spectating on and thinking about but we'll see the reason I want to bring this up now is like keep an eyee on this this is going to be a good lesson of what's going to

happen because there's a lot of projects that have massive token unlocks like this most of them if they've raised in this previous bare Market don't happen until like two years from now which the problem with that is at some point when the demand stops when new people stop coming into the space And so there's no new demand and there's a bunch of new Supply coming in the market that's when you have tokens that go down 90 95% that's why most tokens in crypto get wrecked in a bare Market they go down 95 98% the salonas of the world last cycle uh the L2 tokens weren't really launched but a lot of the apps like un swap Etc they just got completely beat up and it's because all their unlocks happen when there's no demand this one is not that big of a deal because we still have

tons of new people coming in we just spress alltime Highs but this is one of the reasons why we have Cycles in crypto part of it is liquidity which I always talk about the other part is everyone raises within like one year and then it's like two years three years after that is when all their tokens unlock to their investors and so like the supply of tokens just massively increases all at once and there's just not enough demand for that and so prices have no choice but to go down and so it's interesting because you have the liquidity Cycle Plus this like Supply cycle this unlock cycle that all happens at the same time and I think that's a big reason why crypto it performs to the downside right like it goes down so much versus like a stock which doesn't have this Dynamic so anyway it's why I think

we'll have a similar cycle as we've had because again all these raises everyone's launching their tokens right now and so two years from now all those unlocks happen so something to be aware of of why the bare Market is going to happen why you want to get out of a lot of these tokens so make sure you look at token unlocks it's a key key thing all right time to airdrop them like it's hot our weekly airdrop segment to make sure you're on top of all the upcoming air drops that you could take advantage of and make some free money first up we've got tenser Kai tenser one of the biggest marketplaces for salon nfts what's going on with that tensor is um is a beast it's kind of like for if you haven't used it it's like the the blur but on the salon ecosystem they've done an

incredible job they've built an amazing platform it is actually really really good this is one that we mentioned in our salana airdrop guide months ago that you can Farm finally they've announced their token it's tnsr we don't know ton of details about it but it is going to be live soon and it will be just a governance token for now so everyone who's been collecting points you're about to get rewarded so you can already check and see if you're eligible to claim but you can't actually mint the tokens yet so don't click on any fake links but that's gonna be a big one I think tensor is gonna continue to be to be massive the other one that's launching or just launched actually Is AO which is one that we use a little bit to actually predict the prices of pre-launch Tokens The Tokens that are

coming out I would actually bet if you go to AO you could now see the predictions for tensor I haven't looked yet but I bet you could anyway they just launched their token and it's done quite well it's currently sitting at a $340 million market cap sitting at $3 so anyone who got that airdrop congrats to you it's always nice to get some free money next up we've got grass grass is the first L2 data rollup on Solana and they've been capturing a lot of attention on their end from a being an L2 on salana that doesn't exist yet so everyone's excited about that what does that mean and also they seem to be really leaning into AI as well you can Farm their token right now

I'm a little bit wary of this Kai I know you are as well what's your take yeah I just I honestly I know nothing about grass I'm looking nothing into them I just when you showed me this tweet or whoever put it in our Discord I read the tweet and I was just like ah this seems pretty scammy it says ladies and gentlemen we're proud to ANS grass is the first ever layer two data rollup there's a couple buzzwords layer two data we're preparing to change AI forever with an L2 that can process 1 million per second settle them on salana and then of course they're doing an airdrop a lot of the key buzzwords and narratives AI data availability layer 2os one million transactions per second it just seems a bit maybe their marketer

just you know trying to get all those bu buzzwords in but if I had to guess of one project that's going to one layer two project that's going to rug everyone right now it's grass and honestly I know nothing about the team I know nothing about the project so like I could be completely wrong so don't actually like take this as real advice I don't really like would be able to tweet things with just every buzzword all in one it's a bit much all right last uh airdrop of the week to mention is Magic Eden if you have ever traded a nft on ethereum Magic Eden is going to reward you for doing so so you can expect a diamond drop from Magic Eden and eventually these diamonds will turn into tokens when magic Eden

launches their token which is called nft and connected to their government's plans to decentralize their protocol but look lots of our listeners I'm sure you guys traded bought or sold nfts on ethereum since 2017 and if you have make sure you check out if you are eligible for some diamonds all right agree disagree favorite segment every week where we bring up some tweets and some comments from our community and tell you whether we agree or disagree with them first up from Fred Federico AKA Fred in our community he says so stressed thinking about an accelerated cycle what do you think about the potential for an

accelerated cycle will it top this year this is starting to pick up as a narrative and the reason it's picking up is we have technically accelerated the cycle so far we have never been above all-time highs in Bitcoin anyway pre having it always comes after the fact and usually a bit few months after the fact and we're there a few months before so that's quite interesting obviously it's happening because of the ETFs we've talked about that and so people are expecting that well because we're so far ahead you know we're going to end much sooner and you know there there's a percent chance that this happens I definitely don't want to say it can't happen there's no doubt I think this is people who get too stuck on past Cycles like well if we're this far ahead then you know we're definitely going to be a

3.5x because that's what we got last cycle and well we're already this far so like you got to kind of just like play it as it goes you can't you know you might have had a theory six months ago nine months ago and it it has to change because of what we're seeing with the Bitcoin ETFs I don't think we continue down this path of up only we're going to get a b a pullback in terms of like when you get to the euphoric stage of a bull market we're not there because we haven't had any pullbacks really in a typical cycle we do have sort of like long stretched up periods in the middle of it where we don't have any pullbacks for an extended period of time and then as you get near the top those pullbacks happen very frequently and we're not at

this stage yet so I got a feeling like we're going to cool off at some point and then we'll start to go back up so like I don't really see the accelerated cycle happening I just think it's just not playing out the exact same as before and that's that's fine maybe we have a double top people have said or maybe we just go much higher than people are thinking the stage is set for that I actually think more about well what if we don't get a proper cycle the proper pullback like we've had and instead we not super cycle per se but this is the one cycle where people are not going to like they don't have to leave because we have stable coins which is just making a lot of people's lives better and they're just going to use them if we get real

apps we still are not at the point where we have a bunch of apps that like everyone's using in the world so like we're not there and so maybe it's we're I'm one cycle too early on saying this it's going to have to depend on what happens over the next year if gaming does launch and we get some real games that pick up adoption which is a prediction of ours as well then again there's no reason for people to leave they're going to play the games not because they're speculating but because they want to play a game and web 3 just you know owers it to make it better and so if that happens like well you've got a ton of fees still happening which means you've got passive income if you hold eth and you stake it so it's like or salana whichever one this is on so

like I don't know there there's a chance that either happens but I I think it's just going to be on schedule as normal to be completely honest but let's see we got to continue just watch and see how things play out I don't get the feeling that we're like getting very Toppy and this is almost done as much as it's like whoa A lot has happened it's really not that much in the grand scheme of things yet when dog with hat goes on the sphere in Vegas then I'll start to be linking it okay let's go to the next one The Wolf of all streets says bull markets are far more stressful than bare markets it's not even close in a bare Market there are almost no decisions to be made and if you have any level of conviction you just buy and wait for things to come

back in a bull market you are forced into active decision making sorry you are forced into an active decision making situation where you are always living in fear that your portfolio is topped and you are missing out on the game reality is that you should dollar cost average out in the same way that you dollar cost average in get used to taking profit even if it does not end up being the top yeah I um when I originally read this I was like yes I agree uh and then I sat back and thought you know what actually my stress levels in terms of this bull market is way less than the bare market and there's a couple reasons for that one the main reason is like I was prepared for this bull market I knew it was coming we had been calling it for a while I'd been

allocating throughout the markets like I got a meaningful position I have a a strategy that I feel really good about and then also like bull markets can be very stressful because there's a million narratives and a million tokens and like you're seeing people making all this money and I rode a lot over the bare Market if you saw in our Pro reports of like how to manage those emotions and so I've been doing those things and not letting fomo get the best of me not letting greed get the best of me I'm not making a lot of Trades I'm kind of just sitting back and letting this whole thing play out and so this is the F like last cycle I was definitely stressed I was jumping around I had no idea what I was doing I was buying all these different tokens and like you know

trying to catch the next thing this time I'm not doing any of that and I I just have no stress really on this I just smile every day because I mean it keeps going up so why wouldn't I smile so I actually feel a lot less stressed this bull market the bare Market I did but that's because I had a lot of capital in the market I wasn't prepared I didn't take profits and also like we started two businesses in the industry so I was like okay this kind of sucks and so actually the bare Market felt a little bit more stressful I think if you have a strategy and you know how to if you keep and stick to that strategy you know how to manage your emotions bull market is a bit of bit of a breeze at least for me this time and I I wrote a lot last year

to help everyone do the same and so if you've been following hopefully you feel the same but I know there are many who are not that's for sure I think this comes down to I buy now yeah that's what I think this comes down to are you allocated or are you not if you were allocating during the bare market then bull markets are not stressful because you're already in and you're seeing tremendous gains and all you're doing is sitting back and going like refreshing the app every every minute to see what your crypto worth is valued at now right that's very different than if you haven't allocated and that's where the stress comes in is a lot of people get very fomo feeling and when you have fomo feeling during a bull market you feel like you need to allocate either either

you've allocated and you want to allocate more and maybe that gets you to leverage which is very stressful or you haven't allocated and you're new to the space and now you're trying to figure out what you should allocate and it's a very stressful time to allocate the important thing is no matter what you do just have a plan I mean there's a pro report that just came out this morning where Kyle breaks down his crypto portfolio updated for you guys go read that check out his portfolio and you'll get an idea of what your plan should be and what you should be allocating if you bought in the bear you can sell way before the top and you're still taking a 510 X like you feel good about it you know but if you're just buying now it's like [ __ ] I got to kind of wait for the

top to get my you know couple X here and that's where it gets a lot more stressful all right next up key young Jew says been in this industry for seven years and I'm proud to still be here many short-term minded people have failed to survive you should be proud of yourself for enduring all the [ __ ] that happened until BTC reached the previous alltime High happy alltime High Bitcoin yeah I mean we celebrate it but I feel like it's always good to continue to celebrate it I know a bunch of our listeners have been with us through the entire bear we launched at the like beginning of the bear Market I would say yeah and so for those that have been around for a while the fact that you stayed through this you know I was thinking about this the other day and

like 99% of people left maybe 95% of the cycle I would say right like most users left a lot of developers left went over to AI a lot of investors left if we look I mean we run a marketing agency so we see the metrics on the social side of how many views our videos and some of our C's videos how much less they got through that bare Market it's a significant amount of people left and so if you were one of the ones that stayed that was not easy you had FTX collapse in front of our eyes billions of dollars you had multiple companies collapse many of us probably lost money in those prices went down I think 80% it was in the best assets and way more than that the others like if you stayed and either kept building kept buying kept like

learning like kudos to you is not an easy thing to do you're a 5center you know is pretty wild so you got to give yourself kudos for that for sure yeah super proud of everybody that's listening and has been listening this whole time you should be very proud of yourself even if uh nobody in your life your friends or your family have a [ __ ] clue what you're doing we're proud of you so well done okay next up Michael sailor and his disconnected self love him and hate him that's for sure sailor went on TV this week he think he was on CNBC and he said that he basically called everyone who uses is Fiat War what a Chad yeah I mean like the the the question came out was like you're GNA

sell at some point like everyone's got to sell and he goes into what Fiat and he basically was like you know who holds Fiat the poor it's just like I actually was like whoa did you really just say that on national TV like he makes a point like the richest people in the world own assets that is how you get rich so like I I get what he's saying he's just like so ridiculous at how he delivers it he's so I I say I'm a very direct person but he is just on a whole another level and so I agree if you want to get rich you need to not hold Fiat for the most part I just don't agree with his um delivery delivery yeah at the same time another tweet from Alexander leishman he says if

you're the CEO of a company with a robust Treasury and you're not paying attention to what sailor is doing you are asleep at the wheel yeah this I agree 100% I saw a tweet the other day I forget who said it but they were like one of the greatest trades of all time was The Big Short you know there's a movie by it we all know it that was Michael BD he put a billion dollars to short the real estate market in 2017 that goes down as one of the best ever Michael sailor has now put4 billion do and actually it's probably close to five now because he just took out 800 Million last week and bought Bitcoin with it now he's taking another 500 million there's actually probably over five billion five billion do B this 5x's big is one of the greatest trades of all time and like I

think everyone listen to this is like he's probably going to be very right on this and he's doing in a way where he's not actually taking his money and doing it right he's taking out loans where he pays basically no interest for like 10 years he basically can't get liquidated the way that he set this up it's just it's an incredible system like the way that he's financially constructed this is actually incredible and I don't know why no one else is doing this it is it's not an easy thing to do and figure out but there are accountants and whoever else you need to like figure this stuff out and so as long as you have Capital there's no reason why you wouldn't do this I mean I guess some people just don't have the balls that Michael sailor has obviously but he is literally currently undergoing one of

the greatest trades of all time and he will be in history books if this works out I I wonder how many are doing this and we just don't know it because either they're buying the ETF because they're an institution and they can't actually put Bitcoin on their balance sheet in an easy way so the ETF is finally allowing to them to do that and we don't know that they're doing it or they're doing it and they're just not celebrating it because they're not Bitcoin Maxis like Michael sailor and if you're the head of a public company do you really want to make it public information that you're behind coin when you would have to right it's public compan disclose it but you don't have to Market it right there's a you don't have to

go anything that comes out of anything to do with Bitcoin someone in the Bitcoin World finds it puts it out on Twitter and it goes viral so people might be doing it now they just haven't announced it because you have to you know it's every quarter they do their earning season so like maybe that's the case mayter there so well at some point there is going to be a quarter where this happens right like last cycle it was Michael sailor and then nothing for a while and then all a sudden Tesla and who was the other ones cash app I believe whatever dorsy compan is blocka and a few others did it and so that'll happen again but that happened when Bitcoin was at like 40K I think is when Tesla announced they bought so double the previous alltime highs so we're probably not there at that part yet of

the cycle speaking of big moments will Clement says with BGC now at all-time highs the headline Gap risk to the upside is tremendous for anyone not allocated only need one high-profile billionaire or One Sovereign wealth fund to announce even a minor allocation and this thing likely melts up similar to Tesla last cycle exactly the point I was just making is yeah it's funny we talk about institutions being the smart money but they often still buy the top Tesla I mean didn't buy the very top but they bought at 40K instead of you know 69 Michael C though bought it I think like he started buying at 8K Bitcoin and so like he was the one right guy that did it but then you had Tesla all the the

companies we just talked about you had El Salvador all them came at the top when the excitement came because that's when people start to look at it and they're like oh this a great idea maybe it'll keep going up so even institutions by the top and the same thing is going to happen here right someone soon that's big whether it's a billionaire or a big company or a sovereign wealth fund is either buying or is going to buy soon and going to announce it soon and that is going to be the Catalyst that continues to take Bitcoin from whatever it's at now 71,000 to 100,000 200,000 right it's going to be these big big big wealthy funds in wealthy countries or wealthy people and so we're still waiting for that to happen it's still pretty quiet out there which is why I say I don't think we're quite at the

accelerated super cycle because we just a lot of things haven't happened yet that always happen in the cycle so we're still waiting Good Times all around good things to come what a week we actually during mid episode Kyle and I had to make some decisions to cut some of this news so there is just way too much going on in the space but it is all all good baby baby thanks so much for listening and everybody I hope you guys are feeling good about where you're allocated look if you're feeling fomo if you're feeling not the negative Vibes but the scary Vibes of maybe being not taking advantage of this cycle or not feeling like you're in it take a deep breath if you have any allocation you're

better than most if you don't have allocation you new this space and you want to figure out what to do join our Discord throw a message in our Discord we are all there we are here to help you guys feel free to comment on our podcast if you're listening on YouTube or subscribe to our newsletter if you're not already subscribed we make sure to give you guys as much information as we can to give you the confidence to feel good about your Investments and also to truly understand this onchain world that is in Neverending transformation we got your back you know we're homies homies for Life thanks for listening in everybody have yourselves a great weekend thank you for listening to web 3 your one trusted source to capitalize on the next big phase of the internet if

you enjoyed this episode please share it and subscribe or follow so that you don't miss the next one while you're at it there's a link in the description for our free newsletter where we provide timely and relevant web3 insights so you can confidently build and invest in web 3 make sure to subscribe today one final note this podcast is for educational purposes only and nothing we say is financial advice crypto and web3 are risky and you should never invest more than your willing to lose thank you friends and see you in the next one