 Well, visual asset news. My name is Rob and there's some things that are going on in the background that I think we sometimes forget about and there's a clear trend forming. What I'm talking about is it really comes down to institutions. I know people will say, ah, look for this before big institutions, big money is coming in, but we forget just how many institutions are here. And the real thing is the trend of when they're buying. So this is a great article from Decrypt, from Andre Beginski. Financial institutions are still betting on crypto. And this just kind of gives you a little bit of a walk through down memory lane. Bitcoin hovered around $38,000 last April, down almost half from its peak. Fidelity Investments announced customers could soon add the digital asset to their retirement accounts. By the time the firm's 401k product launched the following fall, the value of Bitcoin had sunk even more. So, you know, on this channel we talk about some people say it's smart money. I say it's big money. I don't think anybody's that smart. I think just they got a lot of money and they have some pretty good opportunities. But in this one, I think Fidelity kind of nailed it because they announced this sometime in the summer of 2022. And then, of course, in the fall, they allowed this to happen as far as retirement accounts. And you know what happened last fall in 2022? Yeah, that's right. The all-time low for Bitcoin for this four-year cycle hit on 9th November 15,742, even though in June we thought that was it. So, it's amazing how they announced this, let it all just kind of play out, and it hits the very bottom. And now if they had, when they opened this up, looks like their customers are probably pretty happy going, wow, was that 15,742 or whatever they got it at? And now we're teetering around 22, 23, maybe 25,000 at some point. And before we move on, I will just remind everybody of this is once Fidelity came out with this plan for their retirement accounts, you had three U.S. senators say you need to stop that because that is irresponsible. And Fidelity said, we appreciate your response, but we were still going forward because we know where things are going. And to prove that, or to not to prove it, to move forward in this, this is a reminder of who's in the game as far as large institutions, BlackRock. What was the largest asset manager with almost $9 trillion in assets under management? Inc. the partnership with Coinbase. Last August, they had been climates of BlackRock's management platform Aladdin to possess and trade digital assets starting with Bitcoin. See, when this article came out in the beginning, when we talked about Aladdin, it was all about a data feed, not about possessing and trading digital assets. And now it's gone even to that point. Nasdaq's crypto venture and Nasdaq digital assets was unveiled in September. It will facilitate a broader degree of institutional participation in digital assets, starting off by giving firms a way to safely hold crypto. BNY Mellon, America's oldest bank, launched a service in October that holds crypto for clients. And I didn't realize this, but BNY Mellon, they have $42 trillion in assets under custody and $1.8 trillion in assets under management. And for some reason, they're also offering it to their customers of crypto digital assets. Not to be outdone, Fidelity, Charles Schwab, Citadel Securities Launched a crypto exchange called EDXM. And there's a quote from Dan Aureli, nailed it, Duke University Psychology and Behavioral Economics Professor, known for his book, Predictably Irrational. He states, yeah, it's a natural response. I think like everything, people will follow the herd and it looks like it's a thing that people don't want to miss retail and institutions. And this is what it all comes down to. This is Bitcoin's price in 2022. And now the big money has gotten into it at opportune times. Look at this, Fidelity announces Bitcoin for a link product at $38,000, held off a little bit, came all the way over here down to November, BlackRock established partners with Coinbase. When Bitcoin was at, oh, just a little bit of a 22K EDXM NASDAQ all the way down. And isn't it amazing how it just coincides with these lower points, even BNY Mellon? So to me, I think this is a bullish scenario. And there's one more thing I'd like to say. And that is that we talk about these institutions coming in and we take a look at the NASDAQ and the SB500 and the Dow Jones and just say, well, you know, they're up 1%, we're up 3%, they're up 2%, we're up 4% or whatever else it is. But there is a vast difference with the market cap of what they're doing and what we're dealing with right now. What I'm talking about is this graphic, I've shown this many times, this is one of my favorite ones. This is from 2020, comparing the world's money and markets. And we're going to see that every little square is $100 billion. This is crypto back in 2020. There's worth $244 billion. Fast forward, let's go to gold, $12 trillion. Fortune 500 companies looking at $5 trillion stock markets. And that's for all the stock markets globally. We're looking at $90 trillion. That's the New York Stock Exchange, NASDAQ, Japan, Shanghai, Hong Kong, all of them, around $100 trillion. Money supply, it's more than $100 trillion. Global debt, $253 trillion. Global real estate, $280 trillion. Global wealth, $360 trillion. Derivatives, $1 quadrillion. So when we talk about, is there any upside to crypto and digital assets? I mean, is there really, I mean, as we're sitting here with $1 trillion, which is nothing, I think it is. Let me just think about that in the comments section. And also more good news. This always concerns me about the macro. And the macro is something that I think we have to really take a look at. And I was concerned that this would lead us into, of course, a little bit more of a slide, especially with the recession. But here we've got some pretty good numbers. Trump's ex-economy boss as a recession is off the table for the first half of 2023. So what do we have? This is Gary Cohn, former director of the National Economic Council. And he talks about how the steady return of people to the office may have helped spark January's surprise job boom, which came out of nowhere. Those strong numbers combined with cooling inflation mean that a recession is off the table for Q1 and Q2 of this year. I find it interesting that if we're talking about no recession for that time, because if we take a look at one of the most stable indicators, the 10 and 2 year treasury yield spread, we can see that around July 6, 2022, is when it flipped from the 10 to 2. And usually when that happens, it'll say right here, a negative 10 to 2 yield spread has historically been viewed as a precursor to a recessionary period, usually within 12 to 18 months. So in July, we had this happen in 2022. So now we're coming up today. It is February 8, 2023. So we've got until July 2023, which would be a year timeframe. So that would be January, March, May, June, right online. If we talk about the timeline of Q1 and Q2 of recession being off the table, but I will also mention this, how interesting isn't it that usually like a recession will last for a year or so. So if a recession lasts a year, when we take a look at our four year cycles, everything tells the halving, all-time high, dip reset, 2012, 2013, 14, 15, 16, 17, 18, 19, happened again, 2021 and 2023. If we hit a recession in half in July of 2023, moving forward, it lasts for a year, where does that put us? That puts us right at the halving in 2024. When is the Bitcoin halving going to happen around March or April? And then what happens usually after a halving in all-time high? It's happened last cycle, the cycle before that, and the cycle before that. I just find it fascinating that we're right online with it happening again in conjunction with a recession. So US employers added 517,000 jobs last month, far higher than what economics economists expected. Unemployment fell to 3.4%. The country's lowest rate in 54 years. And I will say, things are looking up, but you have to take everything with a grain of salt and not say, well, everything's to go to the moon, Rob, because I'm a little bit more bullish, other people are a little more bullish, not so fast. Just remember this, that in January was a great month. This is the monthly returns. This is from Ben's website in the Cryptiverse. I steal as much information as I possibly can from it. And you can see here in February, we're still down. We're down a point. Not that that's anything fantastic or like, oh, the sky is falling, but I'm just saying it's not a straight shot up. So just be aware that these are the things that are happening. I expect a little more volatility moving forward. And maybe we get that recession in Q3, Q4, or maybe not at all. And maybe it is a soft landing, which leaves me at a last point, which is this. It all comes down to diversification. Crypto's great. You don't have to diversify. You can put all your money and all your crypto into whatever you want to. I'm not your dad. I'm definitely not a financial advisor. I can't give you any advice. But for me, this is what I do. It's just about the diversification. I had a lot in cash. I was stacking cash for quite some time. I was micro-DCing. We switched over to regular DCA, but most of it's cash, little DGEN plays, some stable coins. I got some of masterworks for fractionalized shares of art, land and real estate, Amazon business, and crypto and IRA and stocks and all that good stuff. But the one thing that I will make mention of is with masterworks here, there's been a lot of questions about the things that are going on behind the scenes with masterworks and just a lot of different videos questioning what it is. So what I did was I sat down with the CEO, Scott Lynn, and I asked him three basic questions. I said, look, show us about the art research, talk to us about the SEC filing for the complex of interest, and talk to us about these fees. I broke up into three pieces. This first part is just about the research itself and the website. It's two minutes. Just take a listen. And he showed us with the SEC, we can find all the different filings, which you guys have a ton of pieces. You have over 220 pieces right now as far as artwork. And he talked about a couple things. First, he said that they're stored in Delaware, gave us an actual address. Fair looks like it's a very safe, secure place. Second thing he talked about was you're going to actually start to put those up in the office, not a lot of them, but so people will be showed. But the question I had was this, which was you guys have so many pieces. When I took a look at the website itself, there was this, well, there was an artist called Kaws. I guess he's a graphic artist out of New York. Pretty good appreciation, 40%. And I'm looking at these different things, which will help me make assumptions of what to get into. But are all these art pieces, do you guys actually own all these art pieces? Or is this just something that you show so people will be like, okay, this is the appreciation for this particular artist and go from there. Yeah. So this is a section of our website called the Price Database. So anyone can kind of go to masterworks.com, click on Price Database and see a lot of this data. This is the only database that exists of what we call repeat sales. So when you search by an artist's name, you can see paintings that were purchased for a specific amount at public auction and then subsequently sold for a different amount. And you can see the return that a collector made or lost on that individual painting. So this is a really cool way to kind of understand very qualitatively how much money people are making or losing in different artist markets. For what it's worth as an aside, we spent, I mean, I think we had over 30 interns working for us when we started and we spent two or three years compiling this database while over a couple million dollars in expense. So it's a great tool that we give to investors at no charge. Okay. So for tomorrow, we're going to go over the conflicts of interest and why it states that it's conflicts of interest with masterworks as it pertains to the SEC filing. Also, we'll talk about the fees, which we'll go over in day three. And that's it for today. There's a couple of things I like to note, which is there's been a couple of questions about taxes as we're coming up here in the United States. People have asked me, hey, I'm getting these 1099s from Celsius and Voyager, do I have to pay? Hey, what's, you know, as far as like, if I'm going to have my stake rewards, do I have those tax benefits or not? What I did is I reached out to David Kemmer, he's the co-founder of Coin Ledger. That's one I've used two years straight now. I said, look, man, I'm getting a lot of questions and I don't have any answers for him. So can you come on and talk to us? He goes, sure, great. He goes, it'll be me, you and our tax lawyer. We're going to do a live stream. It'll be a series of four videos. We're going to start next week. I'll let you know exactly when those days are so you can come in and ask all your questions that you want to. On top of that, don't forget that tomorrow we're doing not financial advice. Me, guy from Coin Bureau and Coin Bureau Clips. And of course, Ben from In the Cryptiverse. We're going to talk pretty good questions coming out in this one. So, but that's it for today. So look, that concludes the news a little bit long. That's a lot of things going on. If you like today's video, give it a thumbs up, consider subscribing. A lot of things we talk about are time sensitive, but that's it for today. Thanks so much for stopping by. Appreciate it. And I'll see you on the next one.