 Right welcome digital asset news take this top stories in crypto right now to bite-size pieces So my name is Rob and today we got a lot of things to go over as usual So you're probably here because of the title talking about is this the right time to get back in a Bitcoin and crypto What I try to do on this channel is to give you two sides of the same story So we're gonna take a look at a lot of different things But first we'll go over the market recap see what's going on liquidations correlations all the good stuff Then we'll take a look at the meat and potatoes Mike Novogratz calling bottoms And the Fed meeting tomorrow is it gonna be 50 or 75 points and to me personally and they're gonna shoot for 75 basis points And we'll take a look at a side of times recessions upon us Layoffs and then we're gonna take a look at when is there a possible recovery? Also, we'll take a look at the good parts which is micro strategy Michael Taylor comes out and says some good news voyager a little quick vid And then we're gonna take a look at Gary Gensler was he right in the background and then Lastly, I think this is probably the more important of everything we're gonna talk about today is just some sage advice from a Bitcoin investor from 2010 and This is really all you got to do and then last I would assume a Q&A. So first up Let's take a look at the market see exactly where we're going. I don't need to tell you I think you look at the portfolio probably as much as I do not a great day and Actually, that's not right because it says third. Nah, let me refresh this This was from yesterday. I leave all my tabs open and sometimes I get caught like just having a remember yesterday We were almost below a trillion. I think we did touch below a trillion and it was down 13 and a half percent the entire market Let's refresh see what we're at. Hey, we're only down to two percent. That's not so bad But still we're 224 for Bitcoin. I believe Bitcoin went below 20 up for a very short amount of time Ethereum there's a flash crash below a K and now here we are and let's see any any winners for today Let's see Not man. Well, Salon is up 4% that's amazing Cardano's up 1.7 24 hours 3.6. That's a that's pretty good chain link Wow 8% you know, what's funny is chain link does this all the time like when we're in like these massive bear markets They just it just tends to like have like this big run and it's like the first one. I remember in 2018 Uh, everything was going down and chain link was my one saving grace. Now here we are again Monero down 15. So yeah now looking so great, but a lot better than yesterday. Let's be honest Now let's take a look at the correlations and see where we're at Yeah down again. So nasdaq takes a little bit of a dip. Although let's see. Let me refresh this make sure I'm on the right one Okay, still down a little bit. So still a little correlated But of course we take more heat and that's the truth now We take a look at on-chain analysis from crypto quant. Let's take a look at the leverage and see how we're doing so Leverage as we always talk about It's the open interest divided by the coin reserve and anything above 0.2 is pretty darn high And since 7th of march, we've been doing nothing But going up as people try to play the market and get leveraged and unfortunately Some well some people do make a lot of money. I can't say that there's nobody out there that's losing Some people are winning but I think the vast majority are losing And we almost hit almost hit 0.3. But we're going down after These little liquidations and you can see here. This is all liquidations. This is at coin glass.com And for all liquidations yesterday, we were looking at about a billion A little billion actually 1.1 billion and that's for all of them today Just 500 million. That's not too bad And if we can break it down even further, let's see how bitcoin did Look bitcoin led the charge yesterday because everybody went a little too long And then maybe ethereum. Yeah, same thing. So I mean look It is what it is and these are both Things that you have to consider if you are one of those traders. I personally am not But that's what we have. So let me know what you think about that in the comments section. Let's get into the big stuff Novo Mike Novogratz I know some people are not a fan of mike because of the terra situation. But look, this is how I see it Mike's just like any one of us. I mean We always talk about do your own research and uh, I'm pretty sure it wasn't just mike looking at Terra Luna and going yeah, this looks pretty good. I'm pretty sure he had his massive amount of Manpower to take a look at what it was and go. Yeah, this looks great and then go forward now The difference between between us and mike is I'm pretty sure mike lost some money Some of you lost a lot of money. I personally lost as well Just how it was but the big difference is I don't have a Tattoo to remind me. Thank god But uh, this is what mike is talking about here as far as calling bottoms before I play it There's a couple of things no one knows the bottom. Obviously Talk to anybody who who really knows ta and then you have to take a look at the macro event and where we're going And mike actually has some pretty good insights as to uh, you know, where we're going. So let me just Let me stop the screen Let me show it to you and With the best crispest audio I can And just take a listen to new highs. You think we're seeing the same thing here, but Well, listen, you said you thought you thought 40 might you thought 40 might be a low. You thought 30 might be a low Now you're saying you think 20 might be it might be a low. I mean, I Yeah, this is certainly more painful because the numbers were bigger right more money loss uh More infrastructure in place and so, you know, it's a big industry all of a sudden I think we'll see job cuts. I think the industry will resize itself quickly But listen bitcoin will lead the markets back out of this this fed titan the moment the fed flinches the moment You know pal pauses because the economy is really starting to roll over. You're going to see bitcoin explode north Um, it was interesting. I watched the interview with stan drachner talk about bitcoin potentially being one of his assets Lots of guys I talked to uh are seeing You know, the next time they're going to get engaged Is you know when they start sensing feds going to pause Um Equities often go down further if you look at 1970s gold led the market back, you know, not stocks and so I think we've established bitcoin as a macro asset You know, it was supposed to sell off this year given that it went up because the fed was full of easy money and pal decided he was going to look a little more like bulker this year and As long as the fed is hawkish. It's hard for any risk asset to do really well so Let's take that into context Mike doesn't know where the bottoms are just like anybody else They did say something pretty interesting and he talks about how the people that he is talking to Some big players in the space potentially Uh, he's saying look he goes they are telling me that they're waiting for the fed to blink The fed to pivot a little bit or the fed just to step back and go. Okay. We we're going to do this but we're going to be a little bit more more dovish and That's not coming anytime soon and the next Clip i'm going to show you What we're going to talk about here is what we talked about in yesterday's video Which was I don't 100 believe that j powell and fed are just going to say okay Well, we raised it's you know half a basis point and uh inflation went up So we'll just keep going on that road with half a basis point, you know, hopefully it'll work out I personally believe that they'll say you know what this is not working guys We need to get ahead of this if inflation is eight and a half nine percent Like some people believe are even higher then they need to raise those rates even higher than that to get to bring things down Now I could be wrong man. I hope i'm wrong So the question I have for you after you listen to this is is this priced in And where do you think it's going to go because I personally don't think that 0.75 is not priced in that's a given And I don't even think that 0.5 is priced in and that means nothing will change So or as far as like price action goes. So let me uh share my screen yet again And just take a listen to this about two minutes. I'll show He'd be about to get more aggressive with interest rates Steve leesman joins us right now with more and and steve the conventional wisdom at this point is that they're going to hike by 75 basis points not by 50 tomorrow Yeah, becky the fed very likely at this point to announce a 75 basis point increase at the conclusion of the two-day meeting That comes on wednesday My reporting finds the fed is likely to accelerate the pace of rate hikes from the previously expected 50 basis points in response to higher than expected inflation and Rising inflation expectations What happened? Well The cpi accelerated in may to a new 40 year high the new york feds one year Inflation expectations reported yesterday searched to 6.6 percent That was a new high for the series and the university of michigan last week reported the five year inflation expectations That's the one the fed really watches where the highest since 2008 the move if it happens by the fed Which seemed to be another about face for fed chair j pal who said at this last press conference The fed was not quote actively considering a 75 basis point hike But he did say his statement was conditional on the economic outlook evolving in line with his expectations Including for inflation to gradually flatten and decline Well, the 75 base point hike is a clear signal that is not happening Markets think this will amount to not just Faster but more rate hikes overall and it sharply repriced the rate Although take a look at the fed funds futures market and how it's priced currently around 90 basis points You can see there in each uh, uh month a key month that we pointed out here The the terminal right now is almost 75 base points higher So the market is not just going 75 now But it's adding another 75 base points over the cycle here of hiking here including at the very end there 361 you see see that that decline is now Priced in to the market here faster rate hikes have consequences creating economic pain that echoes on main street and wall street There's not universal support for this move among fed watchers christian guja from evercore isi writing This is not what we anticipated not what we think is optimal policy and separately not in our view good for Markets the fed may also believe there is more inflation to come from wage hikes on the russian invasion And now believes inflation is much less likely to take care of itself to supply chain easing becky Yikes, so There we go And again, you can take a look at all these different places and say Okay, that makes sense. I think I do that but someone else could say no They're not going to do that because of the economic turmoil. They don't want to disrupt the markets, but you have to understand j powell he's always talked about Volcker and Volcker was the fed share in the late 1970s to early 80s He's the one that raised basis points, I mean through the roof because he had a deal with this escalating Recession and inflation and they talked about how it wasn't for Volcker. We would have gone into a major depression I think what powell is is it saying here is like look, I don't want to be the guy that led us into depression That's not my legacy. It's not what I want to do So if I got to be a little bit harsh And I'll do that now I could be totally wrong and of course they come out and the points can be point five And off in our merry way. I still think that there's That the markets will still react to that Because I don't think it's going to move the needle as far as inflation and remember just because they're doing these things with For the basis points. It's not they can deal with the rising gas prices. It's not like they can deal with the rising Supply chains. They don't have control of that. They just have control of these rates Which probably do some good things for the real estate market. That's about it So that's where we're at. So expect some pretty big volatility and we'll talk about what I'm going to do Me personally not what you're going to do because I can't give you financial advice But this is how I will play it later down the road. We'll get to that in a second So let me know what you think about that. Where we're going. I made my position clear. Let's move on to Also some little bad stuff side of times Recessions and what happens during the recessions Layoffs so this was a tweet from coinbase And they are laying off 18% Of their entire team Of all their employees and they said this was a difficult choice but these are things that have to happen especially as we get lean and this is Happening on coinbase. This is happening Are going to be happening in tesla. This is happening in block fi. It's happening all different places and it's not just centralized In our markets, this is everywhere and Let me This is the bad news. Let me show you. Let me show the right screen with you. Sorry about that Coinbase So with these things that are coming you're going to hear more about this coming up I need you to be prepared to know this is A natural cycle. This isn't like oh the sky is falling. It's going to be awful and we're going to be here for decades It's not usually how it works. I can't predict the future But I can just tell you you're going to see more layoffs You're going to see more things about inflation You're going to see more about potentially the fed raising more rates But I need you to understand something and that is for recessions I personally believe we're already in a recession That just means that we've had we have are going to have are having Two periods of economic downturn By way of the gdp and we've already seen that happen q1 2022 And I think in july when the numbers come out We'll also see a reduction, which will be two quarters Continuously And that means that we are in a recession per se. So what does that mean as far as like I said, how long those last? Well, we've talked about this before This is from the fred uh st. Louis fred department This is economic data and what it shows us is the dates of us recessions as inferred by GDP based recession indicator. Obviously, this is a lagging indicator, but just so you know In 1970 You've got about A year and a half That was the recession and then you had all economic expansion then in 1973 About a year or so And then 1975 76 77 78 79 and then a recession About a year year and a half or so Actually here is about a year and a half and then we had a massive economic expansion From 82 83 5 6 7 8 9 90 while 1989 another year and a half Massive economic expansion About a year of a recession Massive economic expansion and then we had the one of the largest ones from 2007 to 2009, which was roughly about two years But do you see how how it works out like sometimes like the bigger recessions leads way to this massive economic expansion from 2010 11 12 13 40 15 16 7 18 19 20 21 or 20 and of course we had coronavirus and that didn't last too long And here we are so if we're worried about oh, no the recession is coming You got to welcome it and you got to say great. This is the time When I hate to say this, but it's just the truth. This is when everything is is made This is when every all the rails are built when the noise is out of there And you can actually do the things you want to do and people say well, I don't have any Rob, I don't have any any dry powder. I get it I get it right If you're in a bubble and you're not making any more income. Yes, and yes, you have no more dry powder I understand that totally that makes total sense, right in 2017 2018 when I ran out of dry powder I just focused on my businesses and then when I would get those funds in that I would dollar cost average And then it would actually work out because I had a long-term Look, and that's the same thing I'm talking about here. If we have a long-term outlook these things don't matter I mean, would it be okay to go through a recession of one and a half to two years? Doing whatever you want to do. I personally would dollar cost average and then having you know five six seven ten years of of economic expansion I think that would be okay And I will just say this if as you notice these things there's no coincidences if you take a look at these At these rectangles or these these time frames. It's like around a year and a half Year and a half to two. I mean the big one was in 2007 2009 But it's always around a year and a half or so these recessions to me I found it very interesting just me that if we take a look at it That's the same thing with the four year cycles for crypto. It's amazing Now I know that we'll say that you know the bitcoin having really drives things. Gotcha makes sense But she always see like in 2012 13. It's always like a two-year slippage Recession if you will in crypto and that happened in 2014 15 then it happened in 2018 19 And now I guess what's happening. It's happening again 2022 and 23, but you know what happens after those times economic expansion now Doesn't seem to look out like it's gonna, you know be like seven eight nine ten years Like we do over here, but I find it very interesting and give people a bit uplift to go You know what if I have a long-term outlook. I think things will be okay. So That's what we have in that piece and uh, let's lead into some some good news good or news some good news and there's a lot of Talk about michael sailor and michael strategy coming up and saying Hey, he's not gonna be able to Meet the or he's gonna get liquidated because of loans that he's taken out and he's over leveraged, but uh, michael Put this out here that Hey, just remember micro strategy has a two and a half million term loan And needs to maintain 410 million as collateral Micro strategy has 115 000 bitcoin at a compledge if the price of bitcoin falls below 3500 the company could post some other collateral, which I'm sure they have who knows C slides 11 through 12 and q1 2022 presentation. So there you go So if people are worried about like man, if michael gets liquidated then it all goes down down the tubes Well, it would take a lot for me to get liquidated. So that's the first part and also this was a little snippet Because I know Celsius and the issue we talked about this yesterday. We talked about it in great length actually not in great length I on sunday I talked about You know, hey, this is looking very funny And I don't like the optics of this and if you think that this is bad You should probably take off here your crypto. I've had many of people Contact me and say thanks for letting me know because now it's not stuck in Celsius I'm happy about that because then some people say I missed your video. So now it's stuck there Don't worry. I've got three percent of my portfolio stuck in Celsius too. We'll see how it goes and we'll talk about Celsius in a second, but I keep hearing the same things about well, Celsius isn't cahoots with Voyager So what's up with that? And here's a little press release Voyager digital provides update on asset and risk management. So Voyager They have a What they call a low risk approach to lending and asset management by working with a select group of reputable counter parties Which are all vetted due due diligence by its risk committee. The company does not participate in defi lending activities Let me say that one more time The company doesn't participate in defi lending activities algorithmic stablecoins taking and lending or the derivative assets such as state teeth Although Voyager announced a prior partnership with Celsius in 2019 due to the company's ongoing due diligence and risk management processes Voyager currently has no customer assets at Celsius now saying all those things I will just say this it's up to you to decide Where you keep your crypto and digital assets me personally. I don't keep a lot on any one exchange See Celsius and the things that happen over there And not to say that I won't get those back I don't know when it's going to be back and I don't like that part because that seems like more of like a bank type of thing Just me So it's up to you to decide where you want to put your digital assets. It's always a ledger It's always an option But there's one more thing I would like to point out and that was I had Steve on the show and he said something very interesting Steve is Steve Verlick is a CEO of Voyager and He said something interesting that about him And the block flies and the Celsius is of the world. So I want you to take a listen. This is 57 seconds And here's exactly what he said But we differ from those guys in in quite a few different ways one probably the most Most most important way we think Is what we do with the assets we strictly lend the assets To major parties where others were actually prop trading And they were actually, you know, I think block five might have had five percent of gbtc at one point in time And people are doing things with derivatives on that we haven't done any of that and We believe they're customer assets So the way to generate the rewards was to lend an hour to me I think the differences are as I said how we do the assets how we Talk to customers our information that we put out there I think one of those parties didn't you know, it didn't properly disclose Or said that they were fully collateralized when they weren't You know, we lend it that's what we do and So we think there are significant differences Okay, so there you go. So let me know what you think about steve's comments there again It's up to you where you want to do it I personally don't keep a big large point on any one exchange I think that's a recipe for disaster and then lastly I just thought this was interesting In the gray area zone, which was there was a a piece which Gary ginsler, I know everybody hates him But was he wrong on some things, you know, I'm just saying there's always like nothing is black and white in this world There's always a gray area US SEC chair against that investor should be aware of crypto returns. It seemed too good to be true I gotta tell you I gotta be I gotta tell you some of those d5 projects see was correct He says if there's too good to be true We've seen again that lending platforms are operating a little like banks. They're saying two investors. Give us your crypto We'll give you a big return seven percent or four point five, which my person only gets a big return Come on four point five percent sweet. Mary and joseph How does somebody offer such large percentage of returns in the market today and not give a lot of disclosures? Gensler said so I will say this I mean banks could probably be giving us a little bit more yield But they got to keep it and uh, you know expand their businesses. That's what banks do He says I caution the public if it seems too good to be true. It just may well be too good to be true So I'm just gonna say this There's some parts that disagree with gary some parts this one part here if it seems too good to be true Probably is and move on your merry way This has served me very well in the whole time. I've been investing especially in crypto Treat everything like a scam until proven otherwise I'm gonna be a lot happier person and yeah, I want you to think about that and let's get to the main thing This is this to me. I think was was the main story I should have started with this but I had to take you down the path of like You know, this is the bad news. This is potentially what could happen. I don't want to just be like hoping I'm like It's gonna be awesome by every dip. It's diamond hands. That's that's bad advice. So This one here is from uh front of the show simon dixon simon unfortunately lost his father recently. So he's uh He's a little he's taken time for himself, which he should but he did put out this great tweet And he says and first of all you can find simon's channel There's a link in my in the description of all my videos It's it's him and and guy and james and uh and ben and all those and all those people Crypto stash all the people that I watch almost every day You can find the link in the description and check them out hashoshi all the stuff But simon says this I announced my time out to grieve the loss of my father and right now on camera It's not feasible. So I wanted the voice you need but I can point you to content And lessons to help you in these tough markets So even at a time simon's still trying to help people Manage your emotions will be critical for your wealth. That has helped me a ton a ton Emotions managing emotions. So yeah He states one year ago I say I say I stated to repair everybody for a bitcoin crash During the bull market when it was 65k and that I would continue accumulating each month Choosing to have more bitcoin each month than the previous month and ignoring the price Let me set up one more time I would continue accumulating each month Choosing to have more bitcoin each month than the previous month and ignoring the price That's the magic of dollar cost averaging and just getting into it on the same month. I said that 20k bitcoin is a real possibility. Remember, this is if this is a year ago He's talking about around may when things were just popping off Bitcoin's around 65k and that same month. He said hey bitcoin go back 20 20k. I'll be damned if he wasn't right It's a real possibility. I expected I still buy every month and I ignore price. Let me say that one more time I still buy every month and ignore price. I really should have prefaced it with this simon dixon if you don't know He's the original bitcoin og from like 2010 even before diddy from the bitcoin family got into it I mean, he's like one of the older ones And he started bank of the future. He's been investing into pretty good projects The crackens the world the coin bases and the different infrastructure that we need as far as crypto goes And he's been the most vocal person Out there. I mean he really has I don't know why he doesn't get as much attention as he does. He's got a great channel So he says look Over two years ago, I published exactly how I invest and manage risk while compounding yields and growth Everybody to prepare for the great depression of the 2020s ready for inflation recession I invested 1 million lives in my approach and then I will just say this I put in this this website called dcabtc.com So when everybody's talking like I like when I say these things, I know people are like, what are you this guy talking about? I've been investing since 2021 and I'm down like crazy. This guy's full of it You're not wrong. I'll be honest with you. So on this website dcabtc if you put in $10 and and this is what's great about this website You can put in like whatever you want to and just see how where I would go if you put in $10 per week I think most of us could afford that And you accumulate it for a year starting a year ago. You would be down six percent. Let me say that again If you purchase $10 a week of bitcoin for a year ago, you'd be down six percent And that's the bummer. So so rob. What's the what's the magic of dci? Here's the magic of dca it's not that It's a year to year to get rich It's year over years to accumulate wealth And as you go forward Like I have a a one year a three year a five year and a 10 year Outlook and plan and when I take a look at this if I could just You know Put in 10 bucks a week Five years ago. I'd have 12 grand Let's let's bump that up. Let's say a hundred bucks a week. Well now I've got I've invested 26,000 And I got 123,000. Let's say I do a thousand bucks a week. Well now I got 1.2 million Over five years and I invested 261,000 Let's say 10,000 a month. I mean you see where I'm going here, right? And of course people will say about diminishing returns diminishing returns true You do have a diminishing returns. Like I tell you it's still a pretty good asymmetrical bet and that's just right now What happens as we get pensions? What happens sovereign nations? What happens when the more institutions come in because we actually have regulation they can actually buy into it And offer it to their customers in a legal way I think that's when things really pop off. So just remember Time in the market is more important than timing the market now to finish up with simon here He says as a depositor i'm concerned that withdrawals and Celsius were suspended But i'm long term i protect by considering yield as a risk investment not savings account Our products forces you to diversify and separate holding lending and investing And that's his retirement plan v a link in the description As a shareholder in Celsius, I told you simon has been a big investor into the rails of crypto and digital assets But he says again as a shareholder in Celsius if they need our support we have made disasters Into high performing investments like we did with bitfinex and they're debacle I'm long term it will not change my strategy manage risks and plan for disasters and spectacular recoveries And here's the truth If you think this is the last disaster you're in fantasy world There's going to be more Disasters there's going to be more rug pulls there's going to be more problems. There's going to be more downside And that which that's Being an investor that's just the truth Yeah, and that's just how it goes so To finish up finish up There's a difference between a stablecoin backed by the underlying asset And one backed by the decisions of an unregulated security managed by a central bank like tariff money. So basically saying look Is this what's going on with Celsius? We understand maybe they got a all above their Over the head, but at least it's not as bad as terra. We'll see And he talks about giving a broadcast on how to build and protect your wealth during the crash I've been here since 2011 and all wealth at bank the future investors made wealth investing long term in bear markets and protecting in bull markets again Link in the description for simons website and all these things Also, if you follow me on twitter, it's also there too. I'm sorry. I cannot broadcast when you leave me the most I promise you the best book i'm building and protecting your wealth if you get wiped out in the suppression You can rebuild with experience and I think that's a lot What people are going through And of course Here's him and his dad who passed away. Sorry simon But the message is still sound There's a lot of things that are going on negatively And if you can whether the storm you'll be okay, and this is what I personally am doing So I did a video on june 5th. That was a sunday. I think And I talked about I'm like, I'm not buying big coin of crypto until friday at 6 45 a.m And the reason why I said that was because the cpi numbers were going to come out And I said i'm just going to wait for those numbers to to come and I know people will say But rob don't shoot dca like every day and I do I mean I do dca, but you know, we have to be a little flexible Sweet marion joseph. I mean if you think that like I don't know an electromagnetic pulse wipes out everything. First of all, I couldn't invest anyhow But I probably wouldn't dca that day. So when things come about I'm like, you know, I'm just going to hold off for a bit And that's exactly what I did. So what happened Is here was june 5th to june 15th and I Made a little chart to help it with to make it easy I dollar cost averaging is this right wherever you do things. Here's your average price Looks pretty decent because no one can time bottoms or or tops if they say they do their charlatans So what I could have done was this If I just dollar cost average between This is this is the chart from june 1st to june 15th one that we just let you take a look at over here And I just put in the the prices So what I could have done is what I you know usually do is 100 bucks in bitcoin every day Or whatever you're doing if you're a ball or $10,000, I don't know what you what what you're making or $10 or two bucks. I don't know So $100 every day at 30,000 then $100 at 31 k and 130 k and that's dollar cost averaging, right? But me personally, I was like, you know, I don't think I just had a feeling that's and as I looked around and I filled up my my dodge ram And it cost me over 100 bucks and gas. I'm like, you know, I think inflation is really under control So I said, you know instead of just doing One two three four five six I'm just gonna do what's called value cost averaging and take all that money and just dump it right here when it On on that date and it worked out Now I didn't actually do $600 actually did a little bit less Because I thought to myself Ah, the Fed meeting is coming up next week So what if I just hold on a little bit and you can do that you can you can Oscillate between between the two value costs have a dollar or you can just do this This is what I'm doing right now I held out I put a little bit of money in on Uh Friday when the cpi numbers came out I waited for the market to go down and then I was like, you know cpi numbers are coming out and then uh Here on june 13th. I bought again I well, I should have waited it, but I didn't and that's okay. That's okay You're not gonna time it perfectly stop trying So just go from there and then and then later on I This could still be wrong. I mean we could still go to I don't know 12k bitcoin. I have no idea But what I'm trying to to get at The basics of the basics here is that you don't have to be locked in First of all, you shouldn't do what I do. You should do your own research and see if this is right for you I mean this would be uh Nonsense if you're taking your whole paycheck and putting it into it Don't invest more than you're willing to lose But if you do these things and you can oscillate be flexible, it's okay It's not like you've got to do this thing and you got a diamond hands And you're gonna hold it forever and you're never gonna sell you take loans out. Let me tell you something I took loans out and guess what happened. I got liquidated And we talked about this before we got like I was in europe for for guys thing. It wasn't guys fault It was mine guy from coin bureau and we're traveling around in italy and I took out some a big loan for the house in forrico Missed the margin call got liquidated. Of course. They got liquidated at 2200 or $2,300 per for ethereum Turn out to be a blessing, but just know if you get located it's a taxable event whatever so Don't just think like I'll just do loans and do like that Michael sailors in a different planet Now for what he does and he is a billionaire running a billion dollar company So just take that into account and do what's best for you. So that's it. So look I just want to show you what i'm doing. Maybe you could Add part of that into your into your repertoire. What are you what are you doing and go from there? So that is it for today