 Welcome to the last set of news to get top stories in crypto and bring on a bite-sized piece It's today. Everybody's been talking about how a traditional legend Bill Miller has put 50% of his personal wealth into Bitcoin But I want to show you the flip side of that same coin by taking a look at another billionaire Who's calling for the exact opposite a little bit of balance So we'll take a look at those two stories also and take a look at other traditional or trad-fi legends Who have already gone on just actually get it as far as Bitcoin and why they did and later We're gonna talk about a little meet-up. So we'll do all those things but first take a look what's going on into the market So today it is I think it's the 11th. It's a Tuesday beautiful day here in Puerto Rico and the mark caps up a little bit today Looking pretty good. I mean, we had a pretty big slide, but now we're at 1.94 trillion Bitcoin price is almost at back to 42k. So I mean everybody's congratulating themselves But remember we're pretty far off from the all-time high of around 69k So not a big celebration right now But hey take the wins for what they are because we didn't slide back down to I don't know 20k or 11k like some people were calling for sure And if we take a look at the prices overall just to see what's going on as far as like the market itself Bitcoin's up 4% Ethereum is up 5% almost 3100. It's pretty good Binance coin everything's up across the board in the last 24 hours only anything's anything should be down And I say what's the which one's the big winners 10% for Cosmos 18% for near protocol man's on our tear fall almost 14% for polygons So things are pretty good and like I've talked about before This is not financial advice just financial opinion I know people like Rob. You talk about buying hold then you but then you talk about buying the dip and selling look 95% of my portfolio is just buying and holding but on the days when we see like these massive dips I like to actually buy a little bit over here and then as it goes up 10% Just sell off a little bit because then I just accumulate that little dry powder on the side Now do I do this all the time? No because guess what I run out of money just like you do I mean, I have bought so many damp dips. I'm all dipped out and right now I'm just kind of just kicking back besides had a lot of personal finances to actually pay off Including this house which I'm going to go over a video this week That explained how I actually purchased this place 100% on cash using crypto. So we'll get to that later on but what I really want to talk about today Is a couple of different billionaires fighting over not really fighting It's just two different separate articles and two different sets of opinion about Bitcoin and the crypto market in general and what I'm going to talk to you about real quick is billionaire bond king Jeff Gundlach, I think I said his name right probably probably nailed it rings the recession alarm says bitcoin is hugely overvalued and war is against investing into china So here's what we got for this article just to break it down Jeff here says that the federal reserve could cause a recession if it tightened its monetary policy, which they are going to do They've already talked about raising the rates at least once JP Morgan thinks it's going to be up to four times We'll see double line capitals billionaire boss at only speculators would buy bitcoin at its current price. That's right That's us But we have a thinking and a logic behind it and then gunlach trumpeted emerging market stocks And explains why he didn't invest in china rnft's emerging markets emerging countries Which is weird because like I think that's where a lot of the gains are going to come from a little bit risky china india those types of places So moving down He states and remember his his nickname is the bond king So take it with a grain of salt, but we have to take I like to to Get difference of opinions just to see what people are saying because to To really articulate your case you need to know both sides of the same story So that when people come to you and ask you like well, what about gold? What about the intrinsic value? What about other markets? You can say well, I understand, you know, your concerns But here's why bitcoin and crypto is better. Pa pa pa pa And that's why I bring this information to you So he states the bond market is already suggesting an economic slowdown The economy keeps blackling at lower and lower interest rates So I think the fed only has to raise rates four times and you're going to start seeing a plethora of recessionary signals That could be true But uh, like my friend james over vest answers says he goes, you know I think that they're going to raise rates and then they're going to you know hint at raising them But they know that they can't do it over time because it's just going to you know cause everything to go into recession So they're going to do like a little head fake They'll make me a little uh, you know raise the rates initially and then just go We were going to but now we're going to kind of lay off Also, we're going to do a stimulus package and blah blah I think it's going to be the same thing over and over again, but But you have to prepare for the worst and hope for the best Uh, he states for the faint of heart at some point 22.2 I think you're supposed to buy emerging market stocks. Sure And if you want to put crypto in that category, you know, they're not stocks I would definitely do so And even though some people say that's not emerging. It's already here. Sure, whatever Bitcoin is for speculators at the present moment I would advise against buying it and this is interesting because like the way the article was stated It sounds like he's like don't ever buy it, but he does say like hey It will be volatile as people get out. Maybe you should buy it at 25,000 So you have to understand that there is in there's a story behind the story And you have to really dig into it to get it this guy Jeff isn't uh hypothesizing that you should never buy bitcoin He's just the guy that likes to buy cheap stuff, which makes a lot of sense to me And I could totally appreciate that. So if he's like buy at 25,000, sure if it goes down there But uh, as we're gonna see uh, bill miller, he bought at 30 and keeps buying all the way down and up Uh, lastly to finish up. I like this quote. He says bonds fit my culture of cowardice. At least he's honest I'm sort of an anti-momentum investor and bitcoin is for momentum investors only Just like fang stocks. Look, we're in big we're in good company fang stocks We got facebook, apple, amazon Google and uh microsoft are now it's called Are not microsoft's uh facebook or now it's called meta. So sure, uh, and then he's lastly The valuation is not good. I like buying stuff that's cheap like we talked about and if you're a momentum investor It's like playing roulette with a strategy that works as long as the wheel doesn't come up the zero or double zero You're making money making money and then eventually you get a double zero in your busted momentum investors tend to go out in a blaze of glory Potentially however, you have to understand that some of the biggest investors of our time Have taken a look and some of the smartest people have taken a look at different opportunities And they've really gone all in and uh, you can see it with amazon You can see it with meta or what was called facebook You can see it with uh tesla what's going on right now And I think you're seeing right now with bitcoin. So that is one side and when he talks about going to zero You have to remember that he's not the first one that said it's going to zero and as a matter of fact This is great website. I would like to bring up. It's called 99 bitcoins And we can see how many times bitcoin has died Uh, let's see the most recent death was 2021 december 28th bitcoin is a scam Which will only end in tears. I'm just pretty funny actually And this has been written out 440 times, but I want you to notice one thing The price of bitcoin when everybody said it was dead. This is at 23 Jesus 23 cents Wow, and then uh that three bucks by bitcoin will fail and on down the ride down on the line on down the line And up and of course, yeah, it's definitely going to fail here And then of course, what does it do does this and does this so of course It uh, it eventually could fail and go to zero, but history doesn't show that to be true Which leads me to my next point bill Miller and When somebody talks about going to zero and there's a recession going on is also a way to kind of get out of it Remember, you're not a victim of circumstance. You have the power to change anything that you have Uh, within your environment. So in this situation, I think bill Miller took a look at different things and say, you know what? Uh, I think that I should look at this asymmetrical bet and go from here So if you don't know who bill Miller is bill Miller, I personally didn't I'm not big into hedge funds and stocks and things like that. I just not but bill Miller Uh holds the mutual fund record for being the s and p 500 for 15 consecutive years So remember a couple like a week ago or so We showed you that all the out of all the hedge funds in existence right now four Out of the hundreds that are out there only four beat a basic buy and hold strategy of being the s and p 500 of bill Miller here was smart enough to be in 15 consecutive years in a row. So kudos to him And what we're going to talk about there's three different Snip bits we're going to talk about first. We're going to talk about why He's buying a 30k and what'll happen in the future. Then we're going to talk about which I think is the most interesting The environmental impact because you're going to hear a lot of different people like the kevin oliri's and The elan must talk about well bitcoin is really environmentally dangerous Well, here's bill miller's way around that and it's beautiful the way he said it and then lastly We're going to talk about gold and it's intrinsic value. So let's just take a listen the first one of why he's buying it 30k Check this out. Let's come back and this shoot this time. I started buying it again at $30,000 down from 66 And my reasoning was there's a lot more people using it now There's a lot more money going into it in the venture capital world There are a lot of people who are skeptics who are now at least trying it out And uh, and I thought maybe maybe 50% is a good stopping point for it But if it goes back down 80 85, I'll buy it all the way down Well, it did stop right around 50% and slowly started its way Back up again, but I bought a fair amount at you know at the $30,000 range and have been adding to various bitcoin related Uh investments since then and yeah, great makes a lot of sense He bought at 30k and actually beforehand he had bought it like at 300 400 dollars before we just I just uh Skimmed over that but one thing he says is really ringing true right now He's like well before not too many people were really using it was really speculative He goes but now there's a lot more people into it a lot of hedge funds a lot of different people that probably he knows Pushing over to a bit So I think it's a it's a lot safer than what it was like in 2017 like when I got into it or 2013 when a lot of You guys got into it So I think that there is one thing to say about that and the next part The way to talk about as far is the environmental impact again You're going to hear people like Elon Musk and you can hear people like uh, mr Wonderful kevin oliri talk about how you know, we got to make sure it's really environmentally friendly sure, uh, and what he says here Is I think the great workaround of what they're trying to do so just take a listen So, uh, there's a company that you know that we own in our in our income fund called stronghold digital Which is a bitcoin mining company Where the ceo owns 35% Looks like they could make you know, six to eight dollars in a couple of years and they're very low-cost minor of bitcoin and all their energy that they're using the electricity usage is all renewables Or or it gets credits for cleaning up abandoned coal mines So it's one of those things that, um It as much as I like bitcoin, you know, I've added to bought a strong stronghold in here and own it also via the fund Yeah, so on top of that. I mean he just says like look, we're just going to bypass that whole issue Just going we've got a company that uses a hundred percent renewable resources Everybody can get on board on top of that and also just if you'd have it known I'll sell it or just put a little piece out. They're going to add more geothermal energy source to power the bitcoin city And uh, presidente bukele explained that the power coming from the volcanoes. That's what's Powering the whole thing managed to maintain by a state company called uh, lageo lageo produces more than a thousand gigawatts For the nation nation yearly he states it'll be clean cheap and renewable energy From a source that will last at least a couple of million years and I gotta be thinking i'm like What's a thousand gigawatts because I have no idea if there was a great article from energy.gov What's a gigawatt and it look it says this at the end of 2018 there were over 163 gigawatts Of solar pv and wind power in the united states combined So when they're talking about this they're talking about a thousand gigawatts and we take a like like well, how much is one gigawatt? 3.125 million pv panels are photovoltaic 364 Utilities scale wind turbines, which are actually not environmentally friendly to actually produce I might remind you and 110 million leds roughly 1.3 million horses 2 000 corvettes 9 000 Nissan Leafs That's just one remember you got a thousand being produced over here So that's just one of the things that I I think they can we can combat that environmental Discussion and then lastly What he says here about gold I think is important for all the gold bugs first of all I own gold I own gold and a little bit silver and I own a lot of it going that a lot I mean comparatively and what he says here is like a good reminder like when people talk about well, you know you know Gold's a great hedge. Yeah, well it can also be confiscated just like it was in 1933 Well, you know, there's no intrinsic value because gold you can use it on your cuff links You wear and gold diamonds and all our gold watches and that yeah, okay Well, there's a here's a great suggestion that bill miller talks about as far as the intrinsic value We how we can combat that argument as well. Take a listen Right and gold is what people typically fled to when the governments tried to uh You know inflate them out and in the united states frankly the erosive all confiscated everybody's gold in 1933 You had to turn it in or you went to jail So they can't confiscate your bitcoin because there's nothing that you hold it securely It was long as you have an internet connection. You can you can send it somewhere instantaneously at very low Very low cost and the reason I the reason I I like the insurance company analogy Is because if you think about people talk about the intrinsic value bitcoin This is a Warren Buffett argument that bitcoin has no intrinsic value. It doesn't have any earnings It'll never pay any dividends And so it's how do you even think about something like that? It is a new technology is something that couldn't be done before But in any case the the answer that I have to that as well I mean, what's the what's the intrinsic value of that? Mickey mantel baseball card that sold for five and a half million dollars It's just cardboard and it doesn't even have a legend. It could be counterfeited very easily Or what's the intrinsic value of a Picasso painting which just canvas and paint? And you know, maybe a frame The people will pay millions or tens of millions of dollars for it And so it comes down at the very basic level for supply and demand So, yeah, great. I can totally get on board with what bill is saying I'm just it's just another person to kind of add to the repertoire of repertoire of who is coming in as far as like with the Traditional finance space because some of the smartest people on the entire planet Are finally figuring out that bitcoin Crypto and digital assets are a pretty good bet. So let me know what you think about that in the comment section and then we'll also just finish up with Traditional finance legends who are actually here as well as with bill miller before I talk about that Crypto taxes are coming up Use I use crypto trader tax from the time that actually signed up the time that I imported all my trades and everything else Which wasn't on many but there was a lot of things all over different Different places took me 30 minutes. There is a link in the description looks just like this And you get 20 off and also I did a deep dive into how to actually use this software Oh, and also they integrated this year with voyager So if you use voyager like myself all your trades go that way and you don't have to wait for a csv file So anyhow, lastly the legends and this is just a small little snippet of people Billionaire hedge fund investor Drunken miller I used to say I'm drunk in a lot of people. That's not right Says he owns bitcoin a cnbc interview again another legend who just kind of gets it Then also you got paul titter jones who had first talked about how like he's just had a little bit Now you got a lot of bit and now all of a sudden he's trying to get a little bit more heavy Then he also had uh, ray dalio who's who at first said that bitcoin will be banned Then he said bitcoin's okay. Then he was like, well, maybe 1% I was like up to 2% so before you know it We're all gonna be a bunch of bill miller is going. You know what 50% ain't bad And lastly, we're going to do a meet up here in Puerto Rico And we've been talking about this so over the course of a couple of weeks or so, but tonight is the night So it'll be from 4 to 6 p.m. The address will be in the description below and just so you know The requirements here for covid are pretty strict So just so you know, you got to wear the mask and also have to have your ID and you also have to have your vaccination card Hey, how to make the rules I just live here and that's it for today So look if you found a little value in today's video, give it a thumbs up I'll consider subscribing while things be talking about our time sensitive and that's it for today So thanks so much for watching. I appreciate it and I'll see you on the next one