 I was six second delay. So again, we'll see how this all works out as far as the streaming service. All right, buddy welcome to Visual asset news take a top stories and crypto and bring them out of bite-sized pieces. So We'll see how this all works out. First of all, let me just say our friend friend of the show Mike the investors here Mike, thanks for coming by appreciate it Rob man, thanks for having me on how you've been it's been a while. Oh man. It's been a long time. Yeah, it's been it's been it's been a long time So so everybody today What we were supposed to talk about was a pretty uplifting Rah-Rah session about how great the market is and of course that didn't work out too hot because right now looks like the market is doing a little bit of a dumpy action and Before we go on first of all, I said I ask everybody how's the audio? How's the video? We're I'm streaming from a new location. I need to make sure that the It's not too glitchy or blocky or something like that. So let me know about that in the comment section I know you guys are like five or six seconds behind and we'll we'll go from there so Here is the train of thought as far as what we are going to go over. We pull some things up and This is what we got so first of all again We were going to do it mostly was going to be talking about Raul Powell and his predictions But we have to talk about this ETF that has just tanked in the last so many minutes Is this a bad thing or is this something that we should all be used to as far as crypto investors? We're gonna take a look at Raul Powell and his price predictions, which are pretty crazy But then when he gets into it, it does make a lot of a lot of sense Also, we're gonna talk about the Houston firefighters pension, which is the first US pension to get involved into Cryptocurrency they put 25 million into bitcoin and ethereum And we're gonna take a look at if you're outside the United States Just how scary that is as far as pension problems And then finally I'm gonna finish this off with a personal story about how I try to get my idiot brothers Into crypto and digital assets by essentially bribing them and they just said pretty much you're out of your mind And we'll go over all those things but first let's take a look at what the heck is going on with this market Mike, what do you think what happened? Man, you know, it's kind of hard to tell right now I think there's two ways to look at it The first way could be a healthy pullback from all-time highs and we could be bouncing back or the other way could be As history has shown when we have you know big milestones in the crypto market the market has tanked You know after that so you know, I know you did a video on Bitcoin ETF And I did a video as well and just to briefly talk about it if we go back to 2017 when CME futures first got launched Everyone expected, you know the crypto market to explode because I was extremely bullish news for the crypto market definitely at that time Yeah, and it tanked 83% after that day And then if we fast forward to this year 2021 when we had Coinbase that went public that was extremely bullish as well for the crypto market And everyone expected it to just shoot up and the market tanked 53% after that day of listing And so when we just kind of look at history and major milestone events history has shown the market to you know tank a little so it's I Think time would tell but it's kind of hard to say at this point It's kind of hard but it is it is interesting isn't it because like when we had the The Coinbase when it went public that was April 14 15 17 somewhere around there And we were at we were hit we were hitting those all-time highs and then boom it just tanked off and then December 16th 17th 18th 2017 the CBOE comes in and go hey, we're gonna do futures and even The former head of the CFTC Giancarlo comes out came out in 2018 said hey We did that to essentially pop the bubble of the market We felt like there was just too much going into it and we wanted to make sure that we could not manipulate But we could he said something like the words interact with it Essentially what happened was everybody got a short it a short of the living tar out of it And then of course it went down pretty far But the question then is coming back to is like well is this really really a thing so That is for That is for us really to talk about today. So I will say this let's go Let me jump over here real quick and talk about some prices And here we are so first of all We've got a market cap and depending on where you're at it could be two point one five trillion two point two two trillion Somewhere around there, but we're using trade the chain sensor analysis. That's what we have here Bitcoin price Let's bring out some prices, huh? Actually, let me blow this up even more so Yeah, so we've got are actually more on this. Oh, no So we've got Bitcoin price is looking at yeah 60,000 507 which I mean in all honesty and the last what in four weeks ago We're me in the 50s and my couple months ago only like in the 40s So I'll still take it Alma If they miss has dropped below 4,000 by now finance coin is 479. Let's take a look at 24 hours Actually, let's take a look at the one hour. So a percentage point. So what is down a percent? But man salon is up 10 percent For the 24 hours, and I always think Mike and James from the best answers are getting on Solana But it's pretty much doing pretty well and then so on and so forth a little bit of red a little bit of green But quite a dip and on top of that this is the pro-shares ETF ticker name bito and we started off on October 20th I think that was on ours. It was a Tuesday, I believe right and then saw pretty good around $40 came all the way up to 43 one little bit sideways and then down we go and around here October 21st So we're looking at was that yesterday around in the morning looking pretty good and it dropped again then it went sideways and then This morning 1022 we're looking at Primage sideways action and then right around 9 a.m. Everything starts to open up and get going dropped again And now here we are trying to recover and we'll probably move sideways so again it is this could this be one of those instances where There are whales moving things not just whales, but just people just getting into it and go. You know what I'm gonna short I'm gonna short. I'm gonna short. Well, I don't know what's going on with ETF But I can tell you right now if we take a look at let me pull this up BYBT the short verse longs chart if we take a look over the last 24 hours looks Looks kind of heavy short 51% Verse 48% you can take a look from Bitnext Binance by a bit But I think the bigger thing would probably to narrow this down into the last 12 hours, you know Little bit more the last four hours Besides Bitfinex. Let's take a look at the last hour You can see and Then of course the more we go into it. Oh, it looks pretty good Now that's a bad actually I think the more that that everything drops down Maybe it's a inversion of what people are expecting and they say, you know what I'm going to Short a little bit more except for dairy bit crack and a bit of the next they want to go heavy on longs Mike, what do you think? Man, I mean we can see a little bit more in shorts, but I think it's for the most part is still kind of even I mean, there's a little bit more percentage on the shorts But I mean when we look at longs and shorts is still pretty even on the charts and for me It's kind of hard to say because I mean there's so many scenarios where people say hey I'm gonna take profits if it double tops again, which is what we saw with Bitcoin And so we also have more people coming into the market and if we look at the traditional stock market as well It has tanked a little bit and so I also think that has affected the Bitcoin ETF as well. And so I Don't know Rob. It's kind of it's kind of hard to really, you know Put your finger on what could really be the cause of everything, you know, thank you You know what? Let's let's take a look at that. So let's see here So here's the chart over the four hour, right and we've got man. Look at this beautiful cannele I've been talking about lately this one from this was on 20th of October and one from 63,000 all the way up to 67 3 it's pretty nice and then of course we were Overbought and things just started to come around. Here's the MACD RSI In the middle and then of course there was a conversion and then now we're taking a little bit dump sideways But we're within the Bollinger band. I can I can see that's okay. If we take a look here. Let me Let's take a look at the S&P 500 Nasdaq Dow and Russell. What do we got? Wow So, yeah, S&P 500 is down Nasdaq's down. That was up a tiny amount Russell US dollar But who cares about that and of course the Bitcoin index negative 3% So it looks like everything is just down for the day and that's what we got so the big thing Don't want to talk about it before we get into the good stuff is this is that This market if you're from there's from the traditional side. This is a pretty scary Situation because you're like wow, this is really really took a big dump But it for us, it's not that big of a deal because we've we've already been here before So when we take a look at these things we're like, well, is this going to be the end all be all usually not usually There's a lot of positive things on the on the outskirts and I can just see this could be a made a minor blip Maybe a little bit sideways for the ETF action But again, we will see so my big thing is let's get into some positive news and talk about Maybe what's gonna happen in the near to midterm future and we put this up here so Everybody this was a good interview. This was about about a week ago or so This is between Raul Powell and Anthony Pompliano from the pom podcast And there was two snippets out of this whole interview and there's it's a pretty good one I linked in the description but the first thing was is Raul Powell was talking about how fast Cryptocurrency is being adopted as compared to the internet and the second thing he talks about is is was just a Bitcoin Ethereum price predictions And I think this was important right now to take a look at this especially today But he's hard to see the prices go down because these prices that we have right here Is this going to be forever? No, it's just like it's just like the weather and wherever you're at If you don't like the weather just wait a little bit. It'll change So I'm gonna play two snippets the first one's about fast adoption the next one's about Bitcoin predictions So we will start right here. Let me know if you guys can hear this or not I think it goes Very interesting. I've just got a chart of of adoption of the internet and crypto maps it beautifully Except the internet was growing at 63% a year when it had 150 million users which crypto has now So it's growing 63% a year crypto is growing at 113% so this is double the adoption rate of the fastest Adoption of technology in all recorded history. So we've never seen anything like this Extrap like the maths you get out to a billion people by 2024 So this is going to happen really really fast by the end of the decade You're probably at three and a half four billion people. So most of the world so What does that mean for asset prices? Well almost all the major asset classes whether it's equities bonds real estate They're all kind of in the 150 to 300 trillion dollar range now We kind of know that most of those assets are going on the blockchain anyway, but let's ignore that To put this where I think it's going it's currently two trillion I think a roughly fair value to fit in with the other asset classes is two hundred trillion. So it's a hundred X We've never had an asset do a hundred X of that kind of magnitude in all recorded history. We would never Not too bad. All right. So there we go So I'm thinking about this and like that's pretty quick. I mean as far as like whoops as far as like adoption everything else Mike, what do you think we think we are we are in within that range or you think that's just too much pie in the sky talk? I Think if the numbers are there we can discredit that, you know We're truly growing by 63% but I also think because of blockchain and crypto was so Technical it's still taking a while to develop at the same time Which is even though crypto may have 150 million users at the same time as the internet We may not have seen the full peak yet because we have so much still to unfold and so even with that being said Can we reach a 400k at the end of the cycle? And for I mean for me, honestly, I don't I don't think that's happening. I don't think that's gonna happen I'm just being honest. I mean do I think it can happen realistically like over time? Absolutely, but at the end of this cycle talking, you know, March April if we have an extended bull cycle even with an extended bull cycle, I Don't know if we're gonna see a 400k Bitcoin by April of next year. I think that's kind of pie in the sky a little bit Yeah, you know, I will tell you this like it's amazing how the emotion gets gets into you Right because even as long as we've been around like I've been around since 2017 I went through the crypto winner even now like with this ETF. I was thinking myself, you know Maybe this could be pretty good And then when I when I heard Ralph Paul talk about I'm like, yeah, maybe so But then today just as things start to tumble down you a little bit you're like, all right Let's get back to reality. Maybe it's because I have always said that I thought Bitcoin would hit between 130 150k I think right now everybody watching is like, I can definitely see that 200k by the end of the year Meh, that seems pretty high 400k by January February March and Ralph will talk about that a bit That's that's a little bit of a stretch, but I bet you I bet you Mike If we hadn't seen this tumble with the ETF and I would and we wouldn't talk about this today people like Rob you're crazy you and Mike and we're they're talking about it's gonna go to 400k or maybe even a million Who knows so it's it's a good lesson to get your emotions and check Especially with these types of markets and then just to show you what Raul was talking about He was talking about this this chart as far as like adoption between Cryptocurrency and the internet so on the on the top there when you can see it It goes from 1992 all the way to 2006. That's the Technology adoption career for the internet and everything that is in is in white is a total global internet users So over in 1992 on the left-hand side It kind of slow, you know a little bit slow and then it kind of just goes up exponentially the same thing here is in the orange is The total crypto users in millions so that little thing that says pull this up so you can see it You are here. We are right at this little part right here and it looks pretty good But think of it this way. He talks about in the next three years 2024 we could be at a billion users imagine that a billion users But the global population is between like 6.8 billion or something like that It's not you know, well, it's that's a lot of people actually think about it But I mean you become from here from a billion all the way up to like three billion people all the way out to The end of this decade, which is I might remind you is I mean we're looking at like eight years away Eight and a half years away. It's not that long what could actually happen So when we talks about that I'm like that is going pretty fast I didn't realize it was that much and if we also take a look at it and just say well He talks about the different asset classes and he talks about and me and Mike have talked about this at length about stocks and and real estates and Equities and dividends and all these things like this is the one I was I was reference over I reference this actually yesterday Every little score is a hundred billion. So look at this This is the all the companies that's how the fortune 500. Here's the stock market about a hundred trillion dollars Here's the money supply. Here's debt. I guarantee it's way more than that Here's real estate and you're looking at over 300 300 trillion dollars global wealth and then DeRoto's is like a quadrillion So if you don't think we're gonna tokenize some of this stuff or eat into this one, especially With this guy right here gold with its 12 trillion Market cap, I think it's a little bit far-fetched and then lastly I'll just say remember this that's as the as cryptocurrency comes in just remember the things Actually, I'll say this for a bit I'm going I'm drawing on too much Mike. What do you think what those those first two parts we talked about? Yeah, I mean with the numbers saying just the adoption rate of crypto growing I mean that's something to be seen within itself and I also think you know as time go on We're gonna see more adoption, but also I think as more adoption come in we're gonna start to see Maybe that incline a percentage of the adoption that's coming in start to taper because we're gonna have so many people in the crypto space And so I think I still think the next three to five years Probably the most wealth to be made of course in the next within the next ten years from this point But I think the next three to five years Will create so much wealth because we have so much that's developing you have the crypto payment infrastructure That'd be pretty much fully developed by 2025 That's only four years away And so when we look at everything that's happening when we look at the companies who they're choosing even international Countries as well how they're moving. I mean this year was the year of foundation and and creating everything next year I think it's gonna be the year of you know regulation which we've already seen the narrative being painted for that And so when regulation hits then what and then if we just think about in the perfect world Let's say the bull cycle hits, you know bulls we're in it now. Let's say it hits the end of next year It's gone. I mean not the end of next year, but going in the next year is over and then we have regulation That starts to set in as prices have tanked as well And so we're gonna start to see cryptos that Not gonna be here when the smoke clears never come back up after regulation And so I think these this is something to kind of keep in mind as well That's that's pretty good Because like when I think about it and just like what you said right there when you said in the next three to five years What's gonna happen? I mean It's hard to do that Especially when you see like like prices today or prices in the end of April in May and prices in September It's so hard to think about it because you're like man It's just it's so much time but like like, you know, a lot of us have talked about when in doubt Really need to zoom out. So this is so this is the all pop of the seven day up This is for for Bitcoin. Actually, it's with the 14 day So we went up we went down here all the way up and it looks pretty good And then of course we had some erratic and then boom we just dropped off So today looks pretty scary, but if we take a look at this Let's just zoom way out You first of all, do you remember this bull run in 2013? I don't I wasn't involved but I can tell you it looks ridiculous right now to think of that Was a bull run in 2013 one is essentially flat and this right here is 2017 And this right here is 2021 this right here is us So when we take a look at them like, you know, we really should zoom out like this is the day to do exactly that and then the last thing I will say is this is When we think about all the things that the crypto Can do or could do and how much it's going to eat into the world. Here's a little little piece I picked up about like the top Companies that got distributed destroyed by the internet so think about like what the internet did to companies and what cryptocurrency is going to do to finance to Transitioning money to dissension to make things defied to make things as far as like the tokenization of properties and things like that So trip down memory lane photo labs Mike you're a young guy You remember this but there was this thing called photo labs and people would buy these little cameras and they would take in these places It was a huge industry that doesn't happen anymore Now you just upload everything to the cloud and you just you pray if you want to print off You can't mostly just on your computers because I'm not saw also in the cloud devices and take a look at these These are called floppy disks Yeah, we used to store things on there and this was a huge thriving industry But now of course that was like 1.2 megabytes or 3.5 megabytes now That's just laughable of course again You can just store things on the cloud and the internet and then these things personal digital assistants You just actually put these things in this they didn't have any connection because there was no internet at that point now we have our smartphones it connects to everything and voice over in our protocol Does those types of things and this stuff? I don't remember these things overhead projectors. Yes. Yes use them in school Yeah, right so like like we had it we had these in school and now teachers especially during the the COVID pandemic What did they do? Everything was based online anyhow, so all the different Teaching material is just right there and that's why you've got places like University of Phoenix And then of course those these things called VCRs and and and DVDs Yeah I used to at least to buy these things and now of course everything's just stored again on On Google or for me it's everything stored in the Amazon storehouse And then this stuff these are classified ads I don't know if you guys remember these are called newspapers and I mean They're still kind of around but there's this thing called classifieds where you could find people Well, then Craigslist came around just destroyed that and that's just us all and in the last one last one my favorite Maps you we used to actually use these things well in the army still do But we would pull these things out like where we want to go We do just route this thing of course now everything's in GPS and onto your smart enabled device These things are laughable now, so I think as we move forward. It's the same type of thing With with with crypto maybe even banks like well, I remember remember those things called banks. Well, that's kind of a stretch Mike what do you got? I agree with that man because if we look at when cryptos like at full scale That's when you know our grandparents will be able to send crypto to their friends Like they can send a text message or email now just like how there's certain Companies out there where you can just send crypto to someone just by their username You don't have to worry about the hash address, you know, which is so long You can just send hey at digital asset news. Here's your crypto I mean think about how easy that is and when everyone's able to do that That's when you know things are at full scale and we're gonna look back maybe five years from now say hey Remember we had to go through all of these loopholes just to buy crypto Remember when all of this wasn't on exchanges. I mean even just people going back to 2017 I wasn't back in that time either but There wasn't as many cryptos that was accessible as it is now today There wasn't you know all these different d5 exchanges that were available to just bridge and get other access And so things have already changed a lot just in a short amount of time Yeah, and then we're gonna talk about how actually banks are getting into it in the next piece But then there was also a snippet that I saw today Walmart is going to allow Bitcoin kiosks in their stores and they're already putting them in right now And it's actually been confirmed by people boots on the ground. That's Pretty amazing. All right, so then we have so that whole thing there And then I want to leave you guys with a little bit of hope because I know today's probably not not a great day But again, remember zoom out to the big picture This next piece let me pull this up. Let me share my screen so Pomp likes to ask everybody their their price predictions and I have I mean I've got mine Mike's got his but this one is like when I heard this I was like, I don't know if that's even remotely possible But let me just say have you guys take a listen to this? I don't have to figure anything out. It's just normal All right I want to wrap up with the question we ask everyone you need a Bitcoin price prediction by end of year And I need an ethereum price prediction by end of year. What do you got for us? I'm doing some work on this on the weekend for global macro investor. I'm kind of thinking I'm kind of a little bit overly bullish right now Um, and I think the cycle. Well, no because that's not fair because I was looking at the cycle itself I think bitcoin somewhere north of 200 and east closer to 15k But I think we finished the cycle With bitcoin close to 400 and east closer to 40,000 All right, so you think by end of year we've got bitcoin 200k or so we've got east at 15k You think end of cycle which in your opinion, it sounds like kind of february march of next year something like that Yeah, bitcoin's 400,000 and east is 40,000. Yeah I Yeah, yeah Mike, what do you got? What do you got for that? Well, I mean the first thing he said that got me is he said he's overly bullish, right? So that means that he's pretty optimistic, you know on the price So I mean in his eyes, you know, definitely that can happen and my eyes. I don't think we're gonna see, you know 400k bitcoin at the end of the cycle. I don't think we're gonna see a 40k ethereum I think at the most At the most if any maybe 10k probably 10k is probably what most people are talking about eight to 10,000 ethereum and bitcoin I definitely think it could hit 100k this year Um, will it hit 200k? Not sure. I think it may peak out maybe 150 potentially, but Not sure. I mean look anything that right now if you're if you're like me You watching this this video or watching us all the hard work's done Essentially, I've already done the hard work and we talked about this before the hard work isn't now This is just more volatility the hard work is done when nobody cares about a project when everybody laughs at you When your friends family loved ones are like, why do you even put money into that? Put that into something safe like a savings account in the bank and that's even laughable too So like that that is that the hard work's done in all that time and all that all that talk All that gibberish about buying the dip That's tough to do too because it's like do I really want to do this again And there's been dips upon dips upon dips and dips You're like man, I'd like to buy the dip but I'm all dipped out because I put so much money into it So all that is the hard work. This is just the time just to sit back and just go. Okay. I got it All right. Thank you mike for that one. Raul Zarate says Good question. Do you all see bitcoin at $5,900 on monday morning? What are some predictions? My prediction is our 5,900, 5,900, excuse me. I can I mean right now Right now it's it's teetering around 60,000. We all know that the weekends especially like Sunday's mondays tuesdays Those are the time when everybody takes a bunch of profits because it seems like and my friend alex has been doing this for like The last 10 weeks all he does is he buys on a tuesday or wednesday and then he sells on a friday or saturday And it works out pretty well Because it's been working out like that for like again like last 10 weeks So I don't see how we we could I mean 59,000 for for bitcoin on the monday. Sure. Why not? The real question is Is what's it going to be at the end of the year and then maybe at the end of the cycle Mike, what do you think? I definitely think 59,000 is possible, you know on monday like you said and then also I mean depending on what the market does like like you said if you don't like what the market's doing Just wait a second and it changed and so one thing one thing I think man is that If we see 59,000 or if we don't see 59,000 we can also very well see a pump going into the weekend because as we know The crypto market typically raises going into the weekend because we also have Traditional players coming to the crypto market because we're the only game in town Stock market's closed, you know, and so this is why we we see those pumps that happen all the time And then also real quicker. This is something I never really talked about and I'm going to give it to everyone This is not always 100 accurate But if you look at stablecoins and the main two stablecoins if you look at tether And I don't know if you can pull it up real quick, uh, rod, but if you look at tether you look at usdc Typically when the market is down, you're going to see the stablecoins green When the market is up, you're going to see the stablecoins red I'll show you So we've got right now I believe we've got tether is 0.1 percent But that's like, uh, you know within the last in the last hour. It's it just it says green But it's really it's just stable. The usd coin is 0.2 percent. Yeah last 20. That's the last hour And seven days 0.2 percent, but not not much but enough to where I can see a point for sure And then actually let's go back real quick. Let's see what if people are gobbling this up and look at this Let me go to the hour James is always talking about this. He's always he's always concerned with he's right to be so About when people When you start to see like like these dips, how far does it go before people just go? Nope the bulls like no I'm gonna I'm gonna gobble this up. I think this is it. So once it went to yeah 60 Before it dropped below 60,000 It was bought up again Maybe that is the level of support as we can see here As far as the Bollinger bands go and we can see it was teetering on oversold anyhow So hey, maybe we were wrong about one that 59,000 I'm happy to be wrong, but Only time will tell Good stuff. All right, and then so there's two more things to go over and I think this is this is more bullish news than I think Um, I think anybody's really talked about too much. I only saw this in a quick snippet. This was uh Houston firefighters pension fund makes bitcoin ether purchase now keep in mind. It was only 25 million There's only 25 million in crypto, but it is the first and as far as I know only Investment fund as far as pensions that have gotten into crypto to date in the united states If you're from around the world, let me know if anybody else have your Countries or individuals or or entities in your countries have gotten into pensions as far as like For outside the u.s. But here's what we got a pension fund For firefighters in houston made a purchase in bitcoin and ether Facilitated by bitcoin investment firm ny dig and the reason why I'm talking about ny dig and why I think this is so big It's what we in mic We're talking about as far as like banks and them kind of like as I call it getting blockbusted ny dig They are a pretty big entity and they've been in the new crypto and digital assets for quite a time They're based out of new york And what they're doing is they're trying to get these smaller banks and these um, What is it Small banks and credit unions and even medium-sized banks to start to offer crypto to their customers And they talk to them because because they say look this is actually going to be a big thing And you should be on top of this now the bigger banks some of them are getting into it But some aren't and then the smaller ones they don't want to be left behind So this is a great a great thing. This was actually a couple months ago june 24th. Excuse me um Institutional bitcoin shop ny dig is partnered with texas fintech firm q2 to provide bitcoin q2 is a behind-the-scenes player providing online banking software to 450 small and medium-sized banks and credit unions According to gene condo q2's vice president of communications q2's decision to partner with ny dig was based on client demand So every time you hear about these big entities going, you know, we don't see much demand We don't really see much demand. They're lying because well, maybe they're not lying They're just not talking to the right people But if you can see here, there's definitely demand and even black rocks came out and said, yeah, there is demand but back to this story the fund invested 25 million bitcoin ether and this is from Ajit Singh He's the chief investment officer. He says I see this as another tool to manage my risk It is a positive expected return and it manages my risk as a low correlation to every other asset Kind of debatable But yeah, the investment was made via Bitcoin investment from ny dig and then this is the big thing since 2004 active firefighters have contributed 9% of their salary to the fund With the city of houston required to contribute at least double that amount by each state Why is that important especially with pensions? It's because of this I don't know where you're at in the world But in the u.s. We got a pension problem And there is this great graphic from the wall street journal and it just talks about does your state have a pension problem especially because The government in each of those states are supposed to subsidize or help out with these state run pensions So in illinois, for example, this is the worst one Uh, the pension obligations funded only 47 percent. Were they going to make up the other other? Let me use a quick math 53 percent Uh, I don't know kentucky. Connecticut, alaska, kansas and look at these numbers This is how much they have funded or needed need to be funded and the one for texas It's actually pretty good. It's 81 percent, but still they're missing out on 20 20 percent of what needs to be funded for these pensions. So this gentleman here Ajit Singh the chief investment officer did a pretty smart thing. He's like, hey Uh, I see this is an asymmetrical return. I'm gonna get into this mic and I was long winded What do you think about these pensions getting involved? I think it's a big thing I do think it's a big thing and Looking at it from the perspective of the traditional market and the reason why I say that because if I mean if you're looking at it From the crypto market, you're kind of like this is big for crypto But I don't care about a pension, right? We're people who like to own our own wealth but when you look at it from the The people who don't know about crypto, which is most of the world still today And people that's in the stock market and bonds mutual funds This is very very important for them and this is going to give them that segue to Invest in bitcoin and other cryptos without them really having to do the work Because I mean if you think about it, we live in a time of day where people pay to cut the learning curve No one really wants to you know, do the full work. So someone say hey This asset has shown to do this time and time again Where have you go ahead and invest in this instead of this mutual fund? Okay, cool. I'll do it That's most people today. And so for them to get exposure through a company a public company. They already trust That's just like the bitcoin ets. That's just like the trust that's been being launched for different cryptos and bitcoin I think with all of that It's just helping expand the overall traditional market I think some of that as well Will help some people trust crypto a little bit more which will allow them to get into the crypto space Actually into it directly as in using d5 as in using actual crypto exchanges instead of actually using these Uh financial institutions where they don't truly own the crypto. They're just actually getting direct exposure or indirect exposure to it And so I think Overall, this is bullish. Absolutely. You know what I mean? I think it's more so bullish for the traditional market because it's just giving us more exposure Yeah, and it makes a lot of sense. So doesn't and that's why I was I had such such high hopes for the ets And it started off with a bang and now just like the rest of the market It's a little bit volatile because if we can show that hey, there's not as much manipulation Or hopefully minimize manipulation, but let's not kid ourselves, right in the metals market There's tons of manipulation in equities. There's tons of manipulation. There's manipulation everywhere Let's just let's just call a spade a spade, right? But for this one I'm kind of hoping that I would actually do pretty well and it's still there It's still there and even like the spot price shows that hey There's a certain point where it's ridiculous to let it fall this this low We're going to buy it up and it makes sense and then So we've got pro shares etf and then we also have van ekk. They got Greenlit by the sec for the end of october Check me in the comments and I think another one just got Approved as well for a features etf someone said in the comments, but not for sure and this was a good one I didn't see this but this is cool. Andrew rice's. Hey rob new york pension fund bought a ton of mara shares a month ago, so You get it you get exposure through um diocese you get exposure through marathon, which is or like riot, which is uh A bitcoin mining operation. So instead of them going we're going to get into this etf Well, what is getting this company that does solely bitcoin mining and that's pretty much like not pretty much But it's kind of it's the next best thing to get into bitcoin. So Do you see that type of thing happening mike more companies doing that? Uh, yes, I could definitely see that and I think uh, it's those companies that's kind of uh, taking that first mover advantage Kind of paves the way for the other companies because you know, some companies like well I don't want to take that first step yet if it fails because they're not truly fully believing in the You know in bitcoin and blockchain and crypto and everything it can do and so when certain Uh companies take that step and they're like, oh if this company took that step and they're in my sector I think it's time for me to take that step as well Nobody wants to be first but nobody wants to be last That's what's up. All right. So then and then we're going to finish up with this because I think this is the big thing especially right now There's a little ball telling the market people like how it's going on, you know, should I should I sell? Should I do a bunch of things? Of course, this is where we talk about zoom out It's not a big thing. This is just a friday afternoon. Nobody cares In the next two years, no one's gonna remember this day. No one's gonna remember this day Me me and mike but like one of the time we were talking. I don't remember and this is what it comes down to I personally try to get my brothers. I personally try to bribe my brothers Into getting into crypto and I think Well, let me just show you exactly what happened. So this was a text. I sent my brothers I go look you guys want 500 bucks or not They said for what? And then it says I eric and brandon. That's my brother's and I said he says hell. Yeah, who wouldn't I said I'll I'll let you know and then later in the day. I said look here's what I want you to do I want to I want you to open up a voyager account I'll send you 500 bucks to start buying crypto two conditions. You got to download it and set up today And you have to use the 500 bucks to buy crypto this weekend. Here's the link And then they said I sent him some dumb video whatever else and that's just wrong. I can't stop laughing And this was on wednesday. So, you know what's wrong? Both you jurors and put the free money into crypto like I told you to and of course it was up majorly now Of course, it's taken a little bit of a of a drop, but it doesn't matter and then This was the big thing my brother eric says And he's he's like mike. He's a traditional Player guy, but mike was a smarter one. He got into crypto as well He goes he's like, I don't know why I want to do this because I just had a nice jump in TD Ameritrade Schwab and visa I'm good And then I actually I actually sent him this this chart this five-year chart and I said, hey man, that's great Uh, I I know you got a lot of these and I know you forex your investments. So congratulations And I was I was and I was this close mike. I was this close To sending him this chart The five year for bitcoin And then I could then I could like, you know, really dug it into him like burn. I got you But then I remembered I'm like, you know what? This is the same thing that I go through when People are like talking to me about a certain project like oh robbie or moron you didn't get into this you didn't get into that And I think at the end of the day It just comes down to what are the what's his goal? What's What's your goal? What's my goal because my goal is different from your goals at some point Maybe people just so like, you know what? I don't want to be involved in that riskiness My brother's older than me He's done a lot of different things. So maybe it's not him. But the other brother is moron and And I'm going to keep working on him because I'm like look man in the next five years I mean, would you not want to be 10 x 20 x 50 x at some point not investment? I can't give you at home investment advice just investment of pain But those jokers I can give investment advice all day long for my brother And I just think to it at some point was like, you know what? Um, maybe just some people don't want to get in and they just feel like I don't want to take the take the risk Mike. How do you deal with it? And then how do you deal with the people who are out there who you try to get in? They're just like I don't want to do it man First I got to kind of talk about the thing you said because I'm kind of the same way When you was like when people say hey Rob, you should talk about this coin or hey, you should look into this project I mean I get that a lot too and people like mike man. You're crazy for not getting into it You're still early, right? And I think sometimes we're comfortable Where we are as far as like investing because I mean you it's kind of like you found your sweet spot And all you have to do is just keep doing what you're doing riding away But you know What's going to happen at the end of that that rainbow, right? And so I think that's where certain people are and I think also when you look at it When you have people that's in the traditional market If they already have a lot of money that's took them a long time to make because they're not going to make it As quick as in crypto so if they've already you know been in the traditional market for five ten plus years And they've made a decent amount of money They're not going to want to really risk that going into crypto And then if you think about people with big money who don't understand and see what's coming in the future take celebrities for example Yeah, we got a lot of that's coming into the crypto space But let's just take celebrities that we do know of or movie stars are just people of power There's still some of them that haven't publicly announced They're getting into crypto some are in crypto and there's a lot that's not in the crypto because one They want to keep their money. They don't understand it. So they don't want to invest in it They're still rather invest into a stock because it's easier to understand Yeah, I just think Because like in my mind i'm like, well, wouldn't you want to make a ton of money? Why don't you want to why don't you want to get into it? And it's almost like It's almost like Like nfts like for us, right For some people nfts is like the end all be all but I think about i'm like in in my portfolio It's I have I have a hodl position which is like 97 96 percent I just buy and hold and i'll take i'll dcan i'll dca out And then two percent or so i'll trade just for just for funsies and then like uh one percent I might invest in an nft here and there and it's kind of like gambling because there's there's some massive rewards But the risk is like crazy. So I think that's just me and that's my goals I think maybe for other people just like mike said like they've been involved for so long with with traditional stuff like Well, i'm already here. I don't really need too much more So i'm just gonna kind of sit in the sidelines just you know, just wait it out and just keep what I have I think that's what it is and then it's either that or there's just not enough education And then some people will say well, you know One thing I will say if you're sitting on a pile of cash, you're doing it wrong That's an investment opinion not a investment advice But if you've got I know I have some friends who are sitting on a bunch of money in their in their bank account It's all they want to do and i'm like Why why just keep it there as it as it decreases by two percent? Statistically or maybe even 10 percent if you take a talk about inflation. So that's what I think mike I hear you there's some I wanted to share the screen on when you mentioned Bitcoin ETFs Yeah, so there's like we have three more pending two more this this month And one in november and I have a screenshot. Let me show you here. Yeah, share that. Let me let me take this banner off Yeah, what's your screen? Oh, I got it. There he is. Ta-da add to stream and so you see we got the pro shares october 18th Invesco bitcoin strategy at october 19th vanec october 25th balkan october 25th, and then we have the galaxy bitcoin Strategy at november 1st and this is from blue bloomberg as well. So this is credible Is this now are these going to be they're already Potential okay, so these are all potential approvals correct and we know pro shares got it. I know vanak got it So Yeah, Invesco valkyrie and galaxy Is that mike novogratz this thing? I think so I think so not a hundred percent sure Let us know in the comment section But I believe so but I just wanted to show that when we were just kind of talking about the adoption of like Traditional markets and things like that. I mean I think a lot of traditional market wealthers in my opinion as time go on will be forced to come over to crypto Cool. All right. Well, look look everybody that does it for today for the news section and what we're talking about Let's just do a little q&a because we're kind of getting heavy on that one. This is from king james This is for uh, this is from uh, mike Is might be invest in the u.s. We're taking advantage of tax benefits elsewhere You said am I taking advantage of tax? I am not I am not i'm strictly still in the u.s I'm not like my good friend rob who's uh in portorico and then the u.s So i'm just in the u.s. Right now man Yeah, just in the u.s The best way to take advantage of like tax incentives is still a roth ira looking. There's a link in the description for iTrust capital Mike between us no one's watching um, there's a uh, I was I had a I was on a show with uh, anthony burtolino the head of operations for iTrust He was on the show and after he was done when we were done He's like, hey, I got some big news So I shut it down and then he's like, hey, this is gonna happen. This is gonna happen next month I was like, what so I I can't share with you guys I'm gonna share with mike after this but it's kind of like To get into iTrust is gonna be the the biggest no-brainer in uh, 28 days That's all that's all I can tell you but iTrust they give you uh, a choice of a sep traditional or a roth ira A roth ira if you don't know that's how, um, peter feel made a billion dollars because he put his Taxed dollars or his his shares of paypal Into his roth ira which were worth nothing back in the uh early 90s And of course that blew it up to billions of dollars and he paid this much in taxes because of roth ira It's whatever you put in is taxed first and whatever it accumulates to let's say bitcoin goes to Raul pal is 400,000. Well, guess how much you pay in taxes off from 60,000 to 400,000 that much So links in the description. I trust capital. So, yeah, that's a good question. Let's see. What else? Gary gensler hates us all perhaps that could be true. I'm not for sure What else we got agree Frank asked a good question. I I don't know are there gonna be spot ETFs I don't think they're spot. I think they're all futures, but I could be wrong mike I one of them is spot. I need to go back and look at one of my Things but one of them. I know grayscale is talking about putting in a spot ETF So the bitcoin ETF that they I mean the bitcoin trust they have They already filed to convert almost a 40 billion worth of assets under management to A bitcoin spot ETF. So it hasn't been like, um, announced when it will actually come out But they announced that they filed for it to be accepted by the sec Yeah, crazy So real quick mike talk to people about there's between this this futures and the spot. I saw a question about that I mean futures pretty much are betting on the price going up and down And I mean the spot price is going to kind of give you what the price of that asset is at that time To be able to buy it at in simplest terms without being too technical And then one is one is paper Essentially, you just trade in paper and spot is like you're actually doing, you know, you're supposed to actually have a physical asset But yeah spot is spot is that price and then that's why that ETF those prices like 40 bucks 42 dollars And it'll vary wildly, but it's just like like mike said before it's great when You have an sec regulated ETF come in and people go. Oh, well, I trust For whatever reason I trust the sec because I'm used to the sec So this must be a legit thing and it's just like you're guilty by association. I guess that's a bad way to say it But yeah, it's pretty much it Oh I'm not even trying to say your last name because I want to butcher it Is it possible that bitcoin hitting 100k is just a psychological number to distract us And big money would dump before then around 75 85k levels meaning Are people going to dump before we hit 100k? Mike? What do you think? Well, um, one thing I've shared uh with my patrons is over history have shown Investors are known to take profits at even numbers Histories have shown this so rather you're looking at a asset. That's hitting a dollar for the first time Psychologically, it's a huge milestone people are going to wait and take profits there So when you look at bitcoin think about how many people have talked about bitcoin hitting 100k That's going to be so many people wanting to hit that sell button at that price And so I mean, I don't know if it's just big money and I get what you're saying about that I also think it's just the whole market itself psychologically wanting to take that profit because some people will think it's the top Some people think that's just the next part to sell. I mean, there's so many things that's going on and then plus it's an even number Yeah, yeah, and it's it's easy to do right. So what do you tell your your patrons to avoid that? So for me what I what I told them to do is look to take on any type of asset and not just crypto On even numbers you want to take so let's just say if you're looking to take profits at 100k on bitcoin not financial advice You may want to potentially now depending on where it's going now if it shoots past 75 85 90 000 It's most likely going to hit that 100k Probably look at taking that taking profits around 90 95 if it's already over 90 000 You know, I mean don't wait for it to hit 100k reason being because once they hit 100k The resistance may pull it back where you're not able to sell it back at that price again Just like any other asset Let's just say for example people are waiting on 80 to hit $5 $10, right? Well, think about how many people are going to sell at $5 think about how many people are going to sell at $10 And if the support isn't strong enough It's going to pull back and it's going to take longer for it to hit that level again So then you've missed your opportunity to even sell at a higher price Then being greedy and so for me always say If you're looking to seriously take profits on something take it before that Even psychological number because you may not get that chance again crypto exchanges have shown the crash I mean we've seen so many things happen. So why wait? Yeah, why wait? Yeah, why or just you know, put your put your limits in and just go I'll sell this or at least or even set alarms If you if you think about it, but that's but you got to be like right or right around there So hopefully you have some place you can sell your crypto quick And uh, you know that they have like limit orders where you can sell it at a certain price. That would be the big thing So I hope to answer your question about 75 85k level I mean if you think about it, it could be any level and I think wales have been doing this for All the way up this up this whole staircase I don't think there's ever been a day or at least a week where some there's what as my friend george from cryptos are Us says whale games they play whale games They start to crash a little bit and doesn't take that much to manipulate this market We're only two points something 2.3 trillion Mark that's nothing. It's so easy to manipulate So that's a big thing and here's some concern concerning question speaking of iTrust Rob I trust is making new yorkers sell their crypto holdings. They give the option to sell into gold silver or usd Until they get clarity. Can you discuss a good strategy for this? First of all This is a travesty and it's it's the wrong thing That the american government actually any government is stepping in in the way Of people making the best decision for themselves and their family by investing into certain assets It is amazing to me that you can go into any casino Around the country and blow your entire life savings and nobody bats an eye Well, except your wife probably but then but then after that, uh, you know the the sec steps in and gary gunner is like You know, we're here to protect the consumer really really are you are you here to protect the consumer? Because I could have made a lot more money if you just get out of the way and allow me to do my thing But now here you are saying and what have you they done in general to actually protect us in any way shape or form? Because of this etf just because they said it's an etf. It just it infuriates me So for some to answer your question. Can you discuss a good strategy? This is definitely going to be an investment opinion. Definitely talk Talk to first of all talk to your accountant About what are the ramifications because if you have to sell crypto that might be a taxable event at that point However, there may be some laws because if you're selling it for crypto into Precious metals there may be a loophole there I'm not for sure. But that is a question that is beyond me But definitely before you do anything I go and okay, I'll say the cash and then you're then you're stuck with a A short-term capital gains tax. Don't do that. Talk to talk to professional first. Mike. What do you got? I agree with you man. I agree with you on that statement. Um, and I think you're more Knowledgeable and I trust as well because you've been in a little bit longer I used the platform as well. Um, but I agree with you I think you should talk with your account because I mean when it comes to taxes I mean, it's one thing for us to talk investments, you know But when it comes to taxes, it's just so technical and it's so different for every person So I would definitely agree with right talk to your account Make sure you don't really have to sell your cryptos and figure out Is there any type of you know loophole or anything you can get through? You know on that asset and then there was one thing I wanted to say that you say arrive It's about manipulation. Well, we look at the stock market over 100 trillion If the stock market can be manipulated, we don't think a baby of 2.3 2.5 trillion can be manipulated You know and so I think if some people realize that they understand kind of what market we are in Yeah, yeah, exactly. So and again, so right now We know that there is some some price action to say the least going on And that could just be as easily as just a couple of whales Five ten whatever two whales just playing around and just going you know what we are gonna take some profits from 64,000 We're gonna drop it down to 60,000 however It was interesting when we took a look at the charts We saw that it would not go below 60 because people were buying it right up the bulls like nope Not gonna not gonna make you do that So for all those things, I will just say I think it's going to be More volatile this entire weekend, but we'll see how it all plays out Mike, what else we got? I think that's it for the questions. Let me make sure I'll go over that Man, I think that's it man. I think that's it. I uh Yeah, I think only time will tell time will tell Sit back and wait Exactly. All right. Well, everybody. So thanks for coming by. We appreciate remember Mike the investor his Channel is in the very top of the description of this one But he's in every single one of my videos under There's eight youtubers. I try to watch uh, at least at least twice a week or at least if I can get it Get it out once a day and Mike is one of those eight So he's in the description, but then this one he's at the very top right underneath when I talk about what the video's gonna be about So check him out check out his patreon all that good stuff and that is it So thanks for stopping by we appreciate it and we'll see you on the next one