 Welcome to Jalassette News. Take a top story in crypto and bring it on a bite-sized piece. As today's the thumbnail suggests, I think it's a new year and a new outlook. And I think this is potentially the year for crypto moving into 2022. And what's going to push it is what is already here, institutional funds. So we're going to take a look at how hedge funds can actually compete. We're going to take a look at some stories about what could potentially make this and be a catalyst. We're also going to take a look at the flip side and the downside by taking a look at what's going on in El Salvador right now. And finally, we'll take a look at tax help and the segment figure house story. And as you can tell, we're in a little bit of a different place as before for today's video. We've been slacking lately because we've had family in town on the holidays. But that's all over unfortunately. And now it is back to the grind. So as you can tell, this is the new house here in Puerto Rico. And we're going to be doing a story. So wait till the end. I'll tell you exactly what's going on. But to get going, let's talk about what's going on into the market right now. So today, it is the second, it is almost 4 p.m. Guainabo Puerto Rico time. It looks like everything's holding kind of strong. It's kind of going sideways. Nothing's really happening because it's Sunday. It's Sunday and we don't really have much going on. I mean, the only, I think the big gainers right now, I think we've got polka dot at 7.3% in the last 24 hours. That's pretty good. Avalanche up a percentage point. And I think, I'm not mistaken, chain length there is up almost 9% in one day. I never understood why chain link was so under performing because it actually has real world utility. I mean, we need to pull in that outside data into the blockchain. And without chain link, it's one of those oracles that you really can't live without. So it's always surprising me just how underwhelming it does. But there is times when it breaks out and there's just one of those times. So good day for that. But to really dig into it and really talk about what's going on, it really just comes down to there was an interview and it was with Anthony Scaramucci the mooch. And he's on the Real Vision Crypto, Raul Powell's channel. And he's here to talk about his hedge fund, Skybridge, and how much he allocated to the fund as far as crypto. And he was kind of trying to weight different things. And it's amazing to me because he is just one of many I think are going to come about. He talks about going from 4% to 20% and how that all happened. Just take a listen to make a lot more sense in a second. So here's the irony. I put 4% of not me, but my team. Our team put 4% of our fund into Bitcoin in November, December of 2020. The coins were anywhere from 13 to 18,000 a coin. The coins now are 63,000. This is Bitcoin. The 4% has grown and we've added to the position a little bit, but roughly to 20% of the fund. So yeah, 20% of the fund. I think if you're talking about how funds can compete and actually do things, I mean that's just a great story from Anthony Scaramucci. And when people ask, well, who cares about Anthony Scaramucci? Well, remember he's been in traditional finance for quite some time and he's one of the founders of Skybridge Capital. And I have to tell it's people like him and then also people like Ray Dalio who are thought leaders in that space. And I think when we start to hear these stories, it's not just us hearing these stories because we don't care. We already know where things are going. We have to get everybody else underneath our tent. And these are the stories that kind of push those people or bring people underneath. So this was a good one. And just very quickly, it states this is Bridgewater Associates founder Ray Dalio has clarified he's neither a raging bull nor a bear when it comes to Bitcoin. He told people that, hey, I hold something all the way back in May. The investor, Dalio agrees with fellow billionaire Bill Miller that one should allocate from 1% to 2% of his or her net worth into Bitcoin. Before we go on, Bridgewater Associates, first of all, what is that? What do they do? So Bridgewater Associates, it's the firm service institutional clients, including pension funds, endowments, foundations, foreign governments, and central banks. So if he's talking about, look, if we can just do one to 2% and then allocate that into crypto or Bitcoin in particular, if we take a look at the retirement assets total, this is just in the US. I couldn't find anything globally. Maybe someone can help me out. But retirement assets is $37.4 trillion in the third quarter of 2021. And that's Washington DC, December 16, 2021, $37.4 trillion. This is just for retirement assets. So we're talking about like 1% to 2%. We're like, yeah, okay, that's nice. That's cute. That's adorable. But in all honesty, we have a retirement crisis. We have a pension crisis. And that's going on throughout the US and globally. So the question is, well, how can you compete? Because well, we'll get in a second. But first, I will just say this, like, if we're talking about like the money that's out there, I mean, I talk about this all the time, but just look at the stock market. If Ray Dalio and Bill Miller are talking about 1% to 2%, the stock market has about $100 trillion right now. Money supply is about $100 trillion, global debt, real estate, you're looking at 280 trillion, and then wealth is over 300, and then derivatives is like 1 quad trillion. So you got a lot of different places to actually park your money into it. But then it comes down to this, well, how can hedge funds compete? And why should they compete? Because this is why this was from Tendies. And it talks about how only three hedge funds outperform the S&P 500. If you don't know the S&P 500 takes the 500 top companies, and it's just a fund that you can invest into. And of course, as these companies fall off or gain into, you start to invest into those. Now, of course, you've got the Facebook, the Amazon, the Microsoft, those different Google, those top five that take up like 20% or more, that's probably grown even more of the total S&P 500. So what these hedge funds are doing is they're saying, look, you don't need a fund like that, which is super easy. You can just do it in a fund. What we're going to do is we're going to take your money, we're going to take your funds, and we're going to be able to magically invest into all these different things. And we're going to have you a higher rate of return. Well, here's the problem. As of December 3, 2021, here's the information that we have. Only three hedge funds, three, have outperformed the S&P 500. And if we put this down a little bit, the S&P 500, just so you know, over the last year, has gone up almost 29% and had a monstrous year, great year, right? But if we take a look at this here, seven SEM Vest Impala and SRS are only over that 28%. All the rest of these guys, you could have just done just fine investing in the S&P 500 and not paying these guys a bunch of different money and funds. And there's a lot of different funds in here that didn't do too well. And actually, even the Mooch was talking about Tiger Global and how they're diversifying into these different funds and things like that. But even they only did 3% the year, 3%. That's not too great. So we're talking about how these places can actually compete. Yet they got to get into crypto. I'm not saying they have to, I'm just saying that it would probably be a pretty good idea to get them into crypto. Because if not, if I'm an investor and I'm like, what have you guys done for me? Because I mean, I can do this myself. I don't need you guys. I don't need a middleman to do this. And I don't need you to get into all these different funds because I know what to do. Because you are not doing the job that you're supposed to, which is beating this, the S&P 500. Now, there's other people out there that don't really like investing into crypto, they don't really like having their cold storage. So I think we still need these types of places to really bring them into crypto. But these types of things are what is going to bring the investors into cryptocurrencies and digital assets. And then to finish this up, I will just say this. For me, what I'm going to do is the same thing throughout this year. I'm just going to DCA in and out by the dip, HODL. But I'm going to do a little bit more of gambling, not so much trading. I call it gambling, but there's some asymmetrical returns. I'm going to talk to you about products that I'm going to get into. And I'll bring you along for the ride. You don't have to invest into that because I'm not an investment advisor. This is just financial opinion, not financial advice. But I'm going to tell you a lot of things that I'm going to be doing and bringing you into the things that I'm going to invest into, which are some pretty cutting edge new projects. So let me make sure you think about that in the comments section. And then let's go on to the flip side, which is El Salvador, because everything sounds pretty good when we put into a nice little package like that. But you got to always remember that for every moon boy out there that's like, it's only going to go up, it's only going to go up. You have to step back and just go, you know what? What is the flip side of this? Because I need to be prepared. This was an article that just came out that was pretty good. El Salvador's leader loved by crypto faithful, but not by bond holders. And before I get into this whole story, I'm just going to scroll down to this very last point. And it states, amid the collapse and bond prices, Bukele remains enormously popular at home. His approval rating is 85% in December, according to a poll by independent media outlet LPGDATO. So when people are starting to talk about like, well, you know, he's not too popular, he's going to be out, I think he's going to be in for quite some time. People seem to love him in El Salvador, but I'm not El Salvadoran, nor do I live there. So if you have any other information, let me know in the comment section, even though it's kind of, it's kind of opinionated if it's just one person, like I can just tell you right now, half of this country hates the president, neither half tolerates them. And some people love them. So I mean, if you got a poll, sure. Anyhow, but this is what's going on. The nation's overseas notes. This is for El Salvador, post the world's worst performance this year with losses approaching 30%, according to data compiled by Bloomberg, it's 800 million of bonds coming due in only 2023 and now priced below 80 cents per dollar, signaling skepticism that holders will get paid back on time. Bukele has said he plans to issue $1 billion in 10-year bonds next year on Blockstream's liquid network for a yield of 6.5%. Seems like a pretty good idea actually. Half of the proceeds would be used to buy Bitcoin. So it's all hinging on Bitcoin. And this is a statement from Jared Lu, Money Manager at William Blair Investment Management in New York. He says, there's a good shot that he's able to get this done and this is just going to embolden them even further. The path of getting paid back really relies on this model and this model relies on Bitcoin prices. There's one more thing I was thinking about when I read this. I was thinking about the El Salvadoran people because as I start to take in Bitcoin as payment on the Lightning network, they can immediately transfer it over to Fiat. They can do that, but some people I would assume some not 100% have listed into Bitcoins. They've heard about how great it is and the price appreciation and they've been doing that since the inception. They're probably not doing so great right now. I mean, maybe they really are dollar cost averaging, but last couple months have not been kind to Bitcoin. So if they've been holding, hopefully they understand that it's a long-term investment, but it's just me. And I'm in a third world country and I have to provide for my family and this is the only way that I can do it. And I see a dollar worth of Bitcoin is now worth 76 cents. I'm like, whoa, maybe this isn't the greatest thing of all time. I mean, think of it this way, even people in first world countries can't even get that straight and they're like, wow, I just lost 5%. I got to start to cash out. So just to take on the flip side and look at that and I got to tell you right now, the IMF and essential banks are desperately rooting against El Salvador. They do not want this to work whatsoever. So I'm saying that this is the year, this has to, I feel like this has to happen now. You can't stop the inevitable for what crypto is, but you can delay it. So let me just think about that in the comments section and let's move on to our last piece, tax figure help. This one was actually pretty funny. This was from Charles Hoskinson and he states, this is a meme, hello IRS. So my client bought $7,000 worth of Cumrocket and saved it for three months. They're in 6,900% interest. They then sold and took the profits to invest in NFT titties. But the dev rugged the project and they only managed to liquidate 10% of the funds. Can the client deduct gas fees for the minting and balance out the short-term capital gains taxes from said Cummys? Hello. And I thought it was fun. First of all, that's the first time I was able to read that without cracking a laugh, but it really is. It really is what it is because there's so much craziness out there. So if you're in the United States and you have to do taxes, like I'm gonna have to do taxes. I'm just gonna recommend CryptoTrader.tax. There is a link in the description. Looks just like this. And when you use that link, it gives you 20% off for CryptoTrader. I actually did a video too, and you can find there's a link right there that shows you exactly how to use it. From the time that I opened that up, it actually got the information in and was able to send it over to my accountant. It was 30 minutes. It's super simple. Also, if you use Voyager, like I do, guess what? They have a direct integration now with Voyager. So if you're looking for an easy way to do your taxes, that is the one. And then lastly, to end this all up, there was a video that someone shared with me. It was called CryptoMillionaires are flocking to Puerto Rico, and I got to watch this great video from CryptoCrow. Really good, really good video. It's him and his wife, and they talk about the pros and cons. Mostly, I mean, he's right. There's a lot of cons in Puerto Rico. I think even Puerto Ricans would agree with it, but it's a pretty good place. And I want to talk to you about this house that we bought, which I'm going to do this week. And I'm going to talk to you about how I use the crypto for loans, for the sale, for the down payment, how it all took place over months and actually years to get this whole thing done, because it's not just an overnight success. It actually takes a lot of time. And the reason why I'm talking to you about this house, it's not a flex on the house. Like, look at this, I got this great house in Puerto Rico. What it really comes down to is, and I'll go into all this, is how it is up. You are the only person that you can count on. If you're watching this video, it's probably you against the world. So when we're talking about getting into crypto and making these types of investments, who else in your family is going to do it if it's not you? And when I talk about these things, we didn't buy this house because it's just some place we want to lounge around in. This isn't 1950s when you do that. We bought this house for a specific purpose to do specific things and we're doing these things to take care of our family and our friends and the people within our circle. Because again, if we don't do it, ain't nobody going to do it. So really, it's you got to really put everything into it. Because if you don't, there's no one else that can do it for you. All right, so that's it for today. So look, if you liked this video, found a little value, give it a thumbs up, also consider subscribing. A lot of things we talk about are time sensitive and we're going to get even more time sensitive to talk about these new projects. But that's it for today. So thanks so much. We'll improve on the audio individual later. I appreciate it. See you in the next one.